N-Q

TOTAL VALUE OF SECURITIES–99.77% (Cost $709,674,957)

718,033,383

«RECEIVABLES AND OTHER ASSETS NET OF LIABILITIES–0.23%

1,621,494

NET ASSETS APPLICABLE TO 67,018,365 SHARES OUTSTANDING–100.00%

719,654,877

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

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


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANIES–100.10%
Asset Allocation Fund–19.96%
²American Funds^®–
Capital Income Builder		2,800,705	$	167,118,043


				167,118,043

Equity Funds–24.02%
²American Funds^®–
AMCAP Fund		870,502		25,070,459
American Mutual Fund		1,149,828		42,049,219
American Funds Insurance Series^®–
Blue Chip Income & Growth Fund		2,912,888		42,178,611
Growth Fund		532,534		41,697,410
Growth-Income Fund		964,571		50,148,040


				201,143,739

Fixed Income Funds–33.46%
²American Funds^®–
Intermediate Bond Fund of America		2,525,409		34,067,769
American Funds Insurance Series^®–
Bond Fund		13,757,548		152,983,939
High-Income Bond Fund		2,992,782		33,579,015
Mortgage Bond Fund		2,398,123		25,563,992
U.S. Government/AAA-Rated Securities Fund		2,749,545		34,039,371


				280,234,086


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANIES (continued)
International Equity Funds–19.66%
American Funds Insurance Series^®–
Global Growth Fund		1,828,653	$	49,995,377
Global Small Capitalization Fund		1,588,563		40,953,149
International Fund		3,130,185		65,639,980
New World Fund		359,918		8,083,753


				164,672,259

International Fixed Income Fund–3.00%
American Funds Insurance Series^®–
Global Bond Fund		2,080,629		25,154,801


				25,154,801

Total Investment Companies (Cost $741,168,918)				838,322,928

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.

For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to Notes 1 and 3 of the “Notes to Financial Statements” as disclosed in the Fund’s most recent semiannual report.


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANIES–100.07%
Asset Allocation Fund–21.83%
²American Funds^®–
Capital Income Builder		779,949	$	46,539,527


				46,539,527

Equity Funds–17.92%
²American Funds^®–
AMCAP Fund		294,000		8,467,205
American Mutual Fund		232,888		8,516,727
American Funds Insurance Series^®–
Blue Chip Income & Growth Fund		589,849		8,541,015
Growth Fund		53,893		4,219,859
Growth-Income Fund		162,707		8,459,137


				38,203,943

Fixed Income Funds–51.45%
²American Funds^®–
Intermediate Bond Fund of America		959,043		12,937,495
American Funds Insurance Series^®–
Bond Fund		5,804,940		64,550,934
High-Income Bond Fund		757,691		8,501,298
Mortgage Bond Fund		1,011,882		10,786,665
U.S. Government/AAA-Rated Securities Fund		1,044,144		12,926,505


				109,702,897


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANIES (continued)
International Equity Funds–4.89%
American Funds Insurance Series^®–
Global Growth Fund		154,318	$	4,219,058
Global Small Capitalization Fund		241,296		6,220,621


				10,439,679

International Fixed Income Fund–3.98%
American Funds Insurance Series^®–
Global Bond Fund		702,325		8,491,109


				8,491,109

Money Market Fund–0.00%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		263		263


				263

Total Investment Companies (Cost $197,872,982)				213,377,418

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANIES–100.12%
Asset Allocation Fund–17.00%
²American Funds^®–
Capital Income Builder		2,415,195	$	144,114,708


				144,114,708

Equity Funds–29.10%
²American Funds^®–
AMCAP Fund		1,177,844		33,921,898
American Mutual Fund		1,633,139		59,723,888
American Funds Insurance Series^®–
Blue Chip Income & Growth Fund		3,544,218		51,320,273
Growth Fund		648,262		50,758,894
Growth-Income Fund		978,586		50,876,702


				246,601,655

Fixed Income Funds–23.38%
²American Funds^®–
Intermediate Bond Fund of America		1,921,546		25,921,660
American Funds Insurance Series^®–
Bond Fund		10,855,641		120,714,732
High-Income Bond Fund		2,277,211		25,550,312
Mortgage Bond Fund		2,432,925		25,934,984


				198,121,688


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANIES (continued)
International Equity Funds–27.59%
American Funds Insurance Series^®–
Global Growth & Income Fund		1,289,831	$	16,767,799
Global Growth Fund		2,164,434		59,175,636
Global Small Capitalization Fund		1,611,694		41,549,477
International Fund		4,763,644		99,893,608
New World Fund		730,330		16,403,201


				233,789,721

International Fixed Income Fund–3.01%
American Funds Insurance Series^®–
Global Bond Fund		2,110,864		25,520,347


				25,520,347

Money Market Fund–0.04%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		339,642		339,642


				339,642

Total Investment Companies (Cost $738,030,298)				848,487,761

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

The use of futures contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The notional value presented above represents the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

The LVIP American Global Growth Fund (Fund) invests substantially all of its assets in Class 1 shares of the Global Growth Fund, a series of the American Funds Insurance Series^® (Underlying Fund). The Fund has an investment objective that is consistent with its corresponding Underlying Fund. The financial statements of the Underlying Fund, including the Schedule of Investments, are provided separately and should be read in conjunction with the Fund’s financial statements.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

The LVIP American Global Small Capitalization Fund (Fund) invests substantially all of its assets in Class 1 shares of the Global Small Capitalization Fund, a series of the American Funds Insurance Series^® (Underlying Fund). The Fund has an investment objective that is consistent with its corresponding Underlying Fund. The financial statements of the Underlying Fund, including the Schedule of Investments, are provided separately and should be read in conjunction with the Fund’s financial statements.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

The LVIP American Growth Fund (Fund) invests substantially all of its assets in Class 1 shares of the Growth Fund, a series of the American Funds Insurance Series^® (Underlying Fund). The Fund has an investment objective that is consistent with its corresponding Underlying Fund. The financial statements of the Underlying Fund, including the Schedule of Investments, are provided separately and should be read in conjunction with the Fund’s financial statements.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

The LVIP American Growth-Income Fund (Fund) invests substantially all of its assets in Class 1 shares of the Growth-Income Fund, a series of the American Funds Insurance Series^® (Underlying Fund). The Fund has an investment objective that is consistent with its corresponding Underlying Fund. The financial statements of the Underlying Fund, including the Schedule of Investments, are provided separately and should be read in conjunction with the Fund’s financial statements.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

The LVIP American International Fund (Fund) invests substantially all of its assets in Class 1 shares of the International Fund, a series of the American Funds Insurance Series^® (Underlying Fund). The Fund has an investment objective that is consistent with its corresponding Underlying Fund. The financial statements of the Underlying Fund, including the Schedule of Investments, are provided separately and should be read in conjunction with the Fund’s financial statements.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANY–2.01%
Money Market Fund–2.01%
*Lincoln Variable Insurance Products Trust–
LVIP Money Market Fund		518,546	$	5,185,465

Total Affiliated Investment Company (Cost $5,185,465)				5,185,465

UNAFFILIATED INVESTMENT COMPANIES–98.27%
Fixed Income Funds–95.03%
²American Funds^®–
Bond Fund of America		610,316		7,744,908
Intermediate Bond Fund of America		4,793,735		64,667,479
Short-Term Bond Fund of America		10,115,888		101,057,719
American Funds Insurance Series^®–
Bond Fund		1,392,861		15,488,614
High-Income Bond Fund		1,136,260		12,748,836
Mortgage Bond Fund		1,213,938		12,940,575
U.S. Government/AAA-Rated Securities Fund		2,505,353		31,016,270


				245,664,401


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES (continued)
International Fixed Income Fund–2.95%
American Funds Insurance Series^® –
Global Bond Fund		632,014	$	7,641,046


				7,641,046

Money Market Fund–0.29%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		749,994		749,994


				749,994

Total Unaffiliated Investment Companies (Cost $253,397,786)				254,055,441

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–76.63%
U.S. MARKETS–40.80%
Aerospace & Defense–1.51%
Boeing		100	$	12,738
Honeywell International		100		9,312
L-3 Communications Holdings		100		11,892
Lockheed Martin		100		18,278
Northrop Grumman		400		52,704
Raytheon		400		40,648
United Technologies		100		10,560


				156,132

Airlines–0.49%
American Airlines Group		200		7,096
Delta Air Lines		1,200		43,380


				50,476

Automobiles–0.06%
Ford Motor		400		5,916


				5,916

Banks–1.71%
Bank of America		1,700		28,985
JPMorgan Chase		600		36,144
KeyCorp		1,200		15,996
PNC Financial Services Group		400		34,232
Wells Fargo		1,200		62,244


				177,601

Beverages–0.77%
Coca-Cola		1,000		42,660
PepsiCo		400		37,236


				79,896

Biotechnology–1.74%
†Alexion Pharmaceuticals		100		16,582
†Biogen Idec		300		99,243
†Gilead Sciences		600		63,870


				179,695

Capital Markets–0.12%
Ameriprise Financial		100		12,338


				12,338

Chemicals–1.41%
CF Industries Holdings		200		55,844
Dow Chemical		600		31,464
PPG Industries		300		59,022


				146,330

Communications Equipment–0.14%
Harris		100		6,640
QUALCOMM		100		7,477


				14,117

Consumer Finance–0.42%
American Express		400		35,016


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Consumer Finance (continued)
Capital One Financial		100	$	8,162


				43,178

Containers & Packaging–0.15%
Avery Dennison		200		8,930
Ball		100		6,327


				15,257

Diversified Financial Services–0.40%
†Berkshire Hathaway Class B		300		41,442


				41,442

Diversified Telecommunication Services–0.72%
AT&T		700		24,668
Verizon Communications		1,000		49,990


				74,658

Electric Utilities–0.67%
American Electric Power		500		26,105
Duke Energy		200		14,954
Edison International		500		27,960


				69,019

Electrical Equipment–0.12%
Emerson Electric		200		12,516


				12,516

Electronic Equipment, Instruments & Components–0.17%
†Flextronics International		1,700		17,544


				17,544

Energy Equipment & Services–1.49%
Baker Hughes		700		45,542
Halliburton		1,000		64,510
National Oilwell Varco		100		7,610
Schlumberger		300		30,507
Superior Energy Services		200		6,574


				154,743

Food & Staples Retailing–0.46%
CVS Health		600		47,754


				47,754

Food Products–1.44%
Archer-Daniels-Midland		1,500		76,650
Mondelez International Class A		500		17,133
Tyson Foods Class A		1,400		55,118


				148,901

Health Care Equipment & Supplies–1.03%
Abbott Laboratories		200		8,318
†CareFusion		100		4,525
†Edwards Lifesciences		600		61,290
Medtronic		200		12,390


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Health Care Equipment & Supplies (continued)
Zimmer Holdings		200	$	20,110


				106,633

Health Care Providers & Services–2.34%
Aetna		300		24,300
Cardinal Health		500		37,460
Cigna		100		9,069
Humana		500		65,145
McKesson		200		38,934
UnitedHealth Group		100		8,625
Universal Health Services Class B		100		10,450
WellPoint		400		47,848


				241,831

Hotels, Restaurants & Leisure–0.32%
Royal Caribbean Cruises		500		33,645


				33,645

Household Products–0.31%
Kimberly-Clark		300		32,271


				32,271

Independent Power and Renewable Electricity Producers–0.07%
AES		500		7,090


				7,090

Industrial Conglomerates–0.30%
3M		200		28,336
General Electric		100		2,562


				30,898

Insurance–0.37%
Assurant		300		19,290
Travelers		200		18,788


				38,078

Internet & Catalog Retail–0.35%
†TripAdvisor		400		36,568


				36,568

Internet Software & Services–2.40%
†Akamai Technologies		200		11,960
†Facebook Class A		1,100		86,944
†Google		100		57,736
†Google Class A		100		58,841
†Yahoo		800		32,600


				248,081

IT Services–0.85%
†Cognizant Technology Solutions Class A		200		8,954
Computer Sciences		400		24,460
Fidelity National Information Services		100		5,630
†Fiserv		300		19,391


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
IT Services (continued)
MasterCard Class A		400	$	29,568


				88,003

Machinery–0.18%
SPX		200		18,786


				18,786

Media–0.87%
Comcast Class A		100		5,378
†DISH Network Class A		100		6,458
Disney (Walt)		200		17,806
Time Warner		600		45,126
Viacom Class B		200		15,388


				90,156

Multiline Retail–0.35%
†Dollar General		500		30,555
†Dollar Tree		100		5,607


				36,162

Multi-Utilities–0.86%
Alliant Energy		200		11,082
Ameren		100		3,833
DTE Energy		500		38,040
Public Service Enterprise Group		700		26,068
Sempra Energy		100		10,538


				89,561

Oil, Gas & Consumable Fuels–4.57%
Anadarko Petroleum		200		20,288
Apache		300		28,161
Chevron		100		11,932
Cimarex Energy		300		37,959
ConocoPhillips		500		38,260
EOG Resources		600		59,412
Exxon Mobil		600		56,430
Hess		300		28,296
Marathon Oil		300		11,277
Marathon Petroleum		200		16,934
Occidental Petroleum		200		19,230
Phillips 66		600		48,786
†Southwestern Energy		500		17,475
Valero Energy		1,200		55,524
†Whiting Petroleum		300		23,265


				473,229

Pharmaceuticals–3.83%
AbbVie		200		11,552
†Actavis		100		24,128
Allergan		100		17,819
Bristol-Myers Squibb		900		46,062
Johnson & Johnson		1,000		106,590
Merck		1,400		82,992


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Pharmaceuticals (continued)
Pfizer		3,200	$	94,624
†Valeant Pharmaceuticals International		100		13,104


				396,871

Professional Services–0.11%
Dun & Bradstreet		100		11,747

				11,747

Real Estate Investment Trusts–0.93%
American Tower		100		9,363
Boston Properties		100		11,576
Crown Castle International		100		8,053
Equity Residential		100		6,158
HCP		100		3,971
Health Care REIT		100		6,237
Host Hotels & Resorts		200		4,266
Prologis		200		7,540
Simon Property Group		100		16,442
Ventas		100		6,195
Vornado Realty Trust		100		9,996
Weyerhaeuser		200		6,372


				96,169

Semiconductors & Semiconductor Equipment–1.89%
Broadcom Class A		1,400		56,588
Intel		1,800		62,676
Lam Research		500		37,350
†Micron Technology		600		20,556
NVIDIA		1,000		18,450


				195,620

Software–1.56%
†Autodesk		400		22,040
†Electronic Arts		1,200		42,732
Microsoft		1,500		69,540
Oracle		700		26,796


				161,108

Specialty Retail–0.33%
Home Depot		200		18,348
Lowe’s		300		15,876


				34,224

Technology Hardware, Storage & Peripherals–2.45%
Apple		1,600		161,200
EMC		200		5,852
Hewlett-Packard		900		31,923
NetApp		600		25,776
Western Digital		300		29,196


				253,947

Tobacco–0.54%
Altria Group		500		22,970


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Tobacco (continued)
Philip Morris International		400	$	33,360


				56,330

Total U.S. Markets (Cost $4,032,005)				4,224,521

§DEVELOPED MARKETS–35.83%
Aerospace & Defense–0.31%
Thales		600		31,963


				31,963

Air Freight & Logistics–0.21%
Deutsche Post		682		21,872


				21,872

Airlines–0.57%
easyJet		2,037		46,990
Japan Airlines		400		10,942
†Qantas Airways		829		1,009


				58,941

Auto Components–0.63%
Bridgestone		200		6,606
Delphi Automotive		300		18,402
Magna International		200		18,985
Michelin Class B		156		14,715
NHK Spring		500		4,901
Pirelli & C		117		1,620


				65,229

Automobiles–0.61%
†Fiat		2,957		28,535
Fuji Heavy Industries		100		3,306
Mitsubishi Motors		700		8,496
†Peugeot		713		9,145
Suzuki Motor		400		13,260


				62,742

Banks–4.33%
Australia & New Zealand Banking Group		660		17,868
Banco de Sabadell		4,657		13,788
Banco Santander		5,119		49,211
Bank of Montreal		100		7,361
Bank of Nova Scotia		200		12,371
Bank of Queensland		87		887
CaixaBank		3,541		21,563
Canadian Imperial Bank of Commerce		200		17,965
†Commerzbank		1,488		22,253
Commonwealth Bank of Australia		15		989
DBS Group Holdings		1,000		14,440
Fukuoka Financial Group		2,000		9,538
HSBC Holdings		909		9,226


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Banks (continued)
†Lloyds Banking Group		9,172	$	11,430
Mitsubishi UFJ Financial Group		4,000		22,622
National Australia Bank		444		12,650
National Bank of Canada		100		4,557
Natixis		3,213		22,110
Resona Holdings		4,800		27,067
Royal Bank of Canada		200		14,297
Skandinaviska Enskilda Banken Class A		1,276		17,046
Societe Generale		406		20,728
Sumitomo Mitsui Financial Group		300		12,231
Toronto-Dominion Bank		300		14,806
UniCredit		4,179		33,043
Unione di Banche Italiane SCPA		1,118		9,405
United Overseas Bank		1,000		17,560
Westpac Banking		394		11,087


				448,099

Building Products–0.22%
Cie de Saint-Gobain		248		11,351
TOTO		1,000		10,997


				22,348

Capital Markets–0.44%
3i Group		2,298		14,279
Ci Financial		100		3,016
Daiwa Securities Group		1,000		7,923
Macquarie Group		247		12,454
†Mediobanca		294		2,529
Nomura Holdings		900		5,366


				45,567

Chemicals–1.32%
Asahi Kasei		2,000		16,239
Givaudan		7		11,204
Hitachi Chemical		200		3,556
Kaneka		1,000		5,590
LyondellBasell Industries Class A		700		76,062
Sika Bearer Shares		7		24,285


				136,936

Commercial Services & Supplies–0.36%
BIC		171		22,053
Secom		100		5,957
Securitas Class B		869		9,652


				37,662

Communications Equipment–0.21%
Ericsson Class B		1,753		22,252


				22,252


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Construction & Engineering–0.38%
ACS Actividades de Construccion y Servicios		132	$	5,072
Leighton Holdings		374		6,320
Taisei		5,000		28,222


				39,614

Diversified Financial Services–0.34%
ASX		46		1,444
Deutsche Boerse		52		3,503
Hong Kong Exchanges & Clearing		300		6,456
†ING Groep		1,038		14,829
Investor Class B		123		4,350
ORIX		300		4,139


				34,721

Diversified Telecommunication Services–2.15%
Belgacom		1,036		36,064
BT Group		8,914		54,854
Deutsche Telekom		363		5,502
Nippon Telegraph & Telephone		100		6,220
Orange		3,709		55,773
PCCW		1,000		628
TDC		1,281		9,729
Telefonica Deutschland Holding		736		3,849
Telstra		6,364		29,532
Tpg Telecom		2,252		13,487
Vivendi		287		6,931


				222,569

Electric Utilities–1.27%
CLP Holdings		500		4,015
Enel		4,991		26,490
Fortum		661		16,122
Iberdrola		6,040		43,257
Power Assets Holdings		500		4,421
Red Electrica		338		29,270
†Tokyo Electric Power		2,200		7,703


				131,278

Electrical Equipment–0.56%
†ABB		524		11,790
Mabuchi Motor		100		8,717
Mitsubishi Electric		1,000		13,318
†OSRAM Licht		648		24,141


				57,966

Electronic Equipment, Instruments & Components–0.95%
FUJIFILM Holdings		500		15,365
Hitachi High-Technologies		600		17,234
HOYA		200		6,719
†Japan Display		1,200		5,789
Omron		200		9,082


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Electronic Equipment, Instruments & Components (continued)
TDK		100	$	5,581
TE Connectivity		700		38,703


				98,473

Food & Staples Retailing–0.15%
Alimentation Couche Tard Class B		200		6,395
Koninklijke Ahold		302		4,890
Seven & I Holdings		100		3,879


				15,164

Food Products–1.18%
†Aryzta		406		35,022
Associated British Foods		971		42,170
MEIJI Holdings		100		7,906
Nestle		137		10,081
Tate & Lyle		1,447		13,875
Unilever		316		13,242


				122,296

Gas Utilities–0.58%
Gas Natural		611		17,990
Snam		4,503		24,912
Tokyo Gas		3,000		16,865


				59,767

Health Care Equipment & Supplies–0.11%
Coloplast Class B		67		5,616
Sonova Holding		38		6,074


				11,690

Health Care Providers & Services–0.24%
Alfresa Holdings		400		5,767
Medipal Holdings		100		1,216
Sonic Healthcare		611		9,383
Suzuken		300		8,645


				25,011

Hotels, Restaurants & Leisure–0.10%
MGM China Holdings		1,200		3,454
SJM Holdings		1,000		1,906
Whitbread		81		5,455


				10,815

Household Durables–1.04%
Husqvarna Class B		5,442		38,537
Panasonic		1,500		17,843
Persimmon		1,776		38,407
Sekisui Chemical		1,000		11,471
Sekisui House		100		1,178


				107,436

Insurance–2.64%
Aegon		618		5,099


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Insurance (continued)
AIA Group		3,000	$	15,512
Aon		100		8,767
Axis Capital Holdings		200		9,466
CNP Assurances		893		16,818
Delta Lloyd		282		6,802
Direct Line Insurance Group		4,209		20,074
Everest Re Group		100		16,201
Great-West Lifeco Class A		100		2,876
Manulife Financial		800		15,388
Muenchener Rueckversicherungs		81		16,017
PartnerRe		600		65,934
Power Corp of Canada		100		2,775
Resolution		542		2,707
Swiss Life Holding		212		50,677
Swiss Re		231		18,426


				273,539

Internet Software & Services–0.25%
United Internet		613		26,089


				26,089

IT Services–0.28%
Computershare		114		1,214
Fujitsu		2,000		12,310
NTT Data		100		3,602
Otsuka		300		11,927


				29,053

Leisure Products–0.20%
Namco Bandai Holdings		600		15,401
Yamaha		400		5,227


				20,628

Machinery–0.75%
Amada		200		1,906
Ingersoll-Rand		100		5,636
JTEKT		300		5,017
Kawasaki Heavy Industries		2,000		7,988
Kurita Water Industries		100		2,231
Metso		359		12,787
Sumitomo Heavy Industries		2,000		11,252
THK		200		4,979
Wartsila		329		14,723
Weir Group		270		10,951


				77,470

Marine–0.07%
A.P. Moller-Maersk Class B		3		7,127


				7,127

Media–1.01%
British Sky Broadcasting Group		1,090		15,585
Hakuhodo DY Holdings		1,300		13,158


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Media (continued)
ITV		11,718	$	39,474
Lagardere		781		20,904
Reed Elsevier		687		15,593


				104,714

Metals & Mining–0.85%
Agnico Eagle Mines Class A		500		14,462
†Alumina		586		870
Anglo American		212		4,756
BHP Billiton		1,228		35,449
Kobe Steel		8,000		12,985
Maruichi Steel Tube		100		2,456
†Newcrest Mining		183		1,690
Rio Tinto		313		15,382


				88,050

Multiline Retail–0.21%
Next		200		21,415


				21,415

Multi-Utilities–0.56%
E.ON		588		10,765
GDF Suez		1,898		47,612


				58,377

Oil, Gas & Consumable Fuels–2.19%
BP		4,564		33,549
Caltex Australia		427		10,464
Canadian Natural Resources		400		15,541
Cenovus Energy		300		8,072
Crescent Point Energy		100		3,609
Encana		1,000		21,235
Enerplus		1,100		20,883
Imperial Oil		100		4,725
JX Holdings		500		2,305
Royal Dutch Shell Class A		1,084		41,445
Royal Dutch Shell Class B		473		18,686
Suncor Energy		600		21,715
Total		193		12,542
Vermilion Energy		200		12,177


				226,948

Paper & Forest Products–0.01%
UPM-Kymmene		62		886


				886

Pharmaceuticals–3.89%
Astellas Pharma		800		11,913
AstraZeneca		376		27,072
Bayer		78		10,926
GlaxoSmithKline		1,202		27,533
Merck		544		50,181
Mitsubishi Tanabe Pharma		600		8,803


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Pharmaceuticals (continued)
Novartis		654	$	61,759
Novo Nordisk Class B		362		17,322
Orion Class B		1,067		41,780
Otsuka Holdings		700		24,128
Roche Holding		257		76,213
Sanofi		247		27,941
Shionogi		400		9,177
Shire		96		8,310


				403,058

Professional Services–0.11%
Adecco		170		11,548


				11,548

Real Estate Investment Trusts–0.42%
Ascendas Real Estate Investment Trust		1,000		1,764
British Land		312		3,553
CapitaCommercial Trust		1,000		1,250
CapitaMall Trust		1,000		1,497
CFS Retail Property Trust Group		508		887
Dexus Property Group		1,315		1,278
Federation Centres		340		768
Goodman Group		408		1,847
GPT Group		406		1,376
H&R Real Estate Investment Trust		100		1,952
Japan Retail Fund Investment		1		2,015
Land Securities Group		258		4,346
Link REIT		500		2,882
Mirvac Group		879		1,324
RioCan REIT		100		2,292
Stockland		553		1,912
Unibail-Rodamco		32		8,233
United Urban Investment		1		1,535
†Westfield		470		3,066


				43,777

Real Estate Management & Development–0.78%
Brookfield Asset Management		100		4,490
Cheung Kong Holdings		1,000		16,472
Daiwa House Industry		200		3,588
Henderson Land Development		1,000		6,478
Hulic		100		1,058
Hysan Development		1,000		4,623
Lend Lease Group		1,812		22,750
New World Development		1,000		1,164
†Scentre Group		1,243		3,570
Sino Land		10,000		15,454
Tokyu Fudosan Holdings		100		686


				80,333

Road & Rail–0.39%
Canadian National Railway		100		7,100


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Road & Rail (continued)
Central Japan Railway		200	$	27,019
ComfortDelGro		1,000		1,881
West Japan Railway		100		4,477


				40,477

Semiconductors & Semiconductor Equipment–0.72%
ASM Pacific Technology		100		990
Infineon Technologies		653		6,758
Marvell Technology Group		3,100		41,788
Rohm		300		18,876
Tokyo Electron		100		6,527


				74,939

Software–0.05%
Open Text		100		5,532


				5,532

Specialty Retail–0.30%
Kingfisher		4,154		21,812
Shimamura		100		9,192


				31,004

Technology Hardware, Storage & Peripherals–0.23%
Brother Industries		100		1,850
Canon		100		3,256
Konica Minolta Holdings		1,700		18,354


				23,460

Textiles, Apparel & Luxury Goods–0.66%
Pandora		712		55,827
Yue Yuen Industrial Holdings		4,000		12,132


				67,959

Trading Companies & Distributors–0.52%
Finning International		400		11,284
ITOCHU		400		4,888
Marubeni		2,000		13,693
Mitsubishi		200		4,096
Travis Perkins		747		20,150


				54,111

Transportation Infrastructure–0.07%
Aeroports de Paris		61		7,302


				7,302


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Wireless Telecommunication Services–0.41%
NTT DOCOMO		200	$ 3,338
SoftBank		100	7,011
Vodafone Group		9,554	31,657


			42,006

Total Developed Markets (Cost $3,809,179)			3,710,213

Total Common Stock (Cost $7,841,184)			7,934,734


PREFERRED STOCK–0.19%

Henkel 1.52%		200	19,972


Total Preferred Stock (Cost $22,923)			19,972


RIGHTS–0.00%

†Fiat		3,745	0


Total Rights (Cost $0)			0


INVESTMENT COMPANIES–10.33%
AQR Managed Futures Strategy Fund		25,521	270,011
AQR Style Premia Alternative Fund		77,139	799,930


Total Investment Companies (Cost $1,048,216)			1,069,941


MONEY MARKET FUND–12.79%

Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		1,324,810	1,324,810


Total Money Market Fund (Cost $1,324,810)			1,324,810

The use of futures contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments, or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

COMMON STOCK–98.84%
Beverages–1.21%
†Boston Beer Class A		30,600		$ 6,785,856


				6,785,856

Biotechnology–0.14%
†ACADIA Pharmaceuticals		31,000		767,560


				767,560

Building Products–1.21%
†Masonite International		60,000		3,322,800
†Trex		100,000		3,457,000


				6,779,800

Capital Markets–5.24%
Artisan Partners Asset Management		145,636		7,580,354
Carlyle Group		166,000		5,056,360
Cohen & Steers		215,000		8,264,600
Financial Engines		124,500		4,259,767
Oaktree Capital Group		81,000		4,139,100


				29,300,181

Commercial Services & Supplies–1.13%
†Copart		201,500		6,309,973


				6,309,973

Construction & Engineering–0.41%
Badger Daylighting		91,235		2,274,663


				2,274,663

Construction Materials–2.05%
CaesarStone Sdot-Yam		221,648		11,454,769


				11,454,769

Distributors–1.10%
†LKQ		231,000		6,142,290


				6,142,290

Diversified Consumer Services–2.70%
†Bright Horizons Family Solutions		165,000		6,939,900
DeVry Education Group		123,500		5,287,035
Nord Anglia Education		169,083		2,874,411


				15,101,346

Diversified Financial Services–1.05%
†MSCI Class A		125,000		5,877,500


				5,877,500

Diversified Telecommunication Services–0.82%
†Iridium Communications		519,673		4,599,106


				4,599,106

Electric Utilities–1.61%
ITC Holdings		253,260		9,023,654


				9,023,654


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Electrical Equipment–1.63%
†Generac Holdings		224,500		$ 9,101,230


				9,101,230

Energy Equipment & Services–2.61%
Core Laboratories		41,500		6,073,525
Helmerich & Payne		66,000		6,459,420
†SEACOR Holdings		27,625		2,066,350


				14,599,295

Food & Staples Retailing–1.82%
†United Natural Foods		165,792		10,189,576


				10,189,576

Food Products–2.58%
†TreeHouse Foods		179,000		14,409,500


				14,409,500

Health Care Equipment & Supplies–2.87%
†Edwards Lifesciences		34,000		3,473,100
†IDEXX Laboratories		66,300		7,812,129
†Neogen		32,550		1,285,725
West Pharmaceutical Services		76,910		3,442,492


				16,013,446

Health Care Providers & Services–2.49%
†Brookdale Senior Living		32,500		1,047,150
†Community Health Systems		235,000		12,875,650


				13,922,800

Hotels, Restaurants & Leisure–12.55%
Choice Hotels International		310,000		16,120,000
ClubCorp Holdings		22,275		441,713
†Diamond Resorts International		18,116		412,320
Gaming and Leisure Properties		205,112		6,337,961
Interval Leisure Group		225,000		4,286,250
†Marriott Vacations Worldwide		101,000		6,404,410
†Panera Bread Class A		36,000		5,857,920
†Penn National Gaming		156,600		1,755,486
†Pinnacle Entertainment		330,000		8,279,700
Vail Resorts		233,300		20,241,108


				70,136,868

Household Products–1.04%
Church & Dwight		82,800		5,809,248


				5,809,248

Insurance–3.98%
†Arch Capital Group		230,000		12,585,600
Primerica		200,000		9,644,000


				22,229,600

Internet & Catalog Retail–0.57%
†AO World		1,050,000		3,200,051


				3,200,051


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Internet Software & Services–3.47%
†Benefitfocus		148,408		$ 3,998,111
†CoStar Group		87,351		13,586,575
†Shutterstock		25,000		1,784,500


				19,369,186

IT Services–5.02%
Booz Allen Hamilton Holding		277,500		6,493,500
†Gartner		174,900		12,849,903
MAXIMUS		216,500		8,688,145


				28,031,548

Life Sciences Tools & Services–2.56%
†Mettler-Toledo International		38,000		9,732,940
Techne		48,600		4,546,530


				14,279,470

Machinery–4.75%
†Colfax		166,390		9,479,238
†Middleby		160,200		14,118,426
Valmont Industries		21,800		2,941,474


				26,539,138

Media–2.93%
†DreamWorks Animation SKG Class A		150,000		4,090,500
†Manchester United Class A		396,063		6,527,118
Morningstar		85,000		5,771,500


				16,389,118

Oil, Gas & Consumable Fuels–4.92%
Atlas Energy		113,662		5,001,128
MPLX		5,000		294,700
†Oasis Petroleum		11,960		500,048
†RSP Permian		83,500		2,134,260
SM Energy		30,000		2,340,000
Susser Petroleum Partners		53,000		2,915,000
Targa Resources		105,000		14,297,850


				27,482,986

Professional Services–0.45%
†Advisory Board		30,905		1,439,864
†IHS Class A		8,700		1,089,153


				2,529,017

Real Estate Investment Trusts–4.02%
Alexander’s		11,600		4,337,356
Alexandria Real Estate Equities		34,000		2,507,500
American Assets Trust		100,000		3,297,000
American Campus Communities		38,000		1,385,100
Douglas Emmett		270,000		6,930,900
LaSalle Hotel Properties		117,100		4,009,504


				22,467,360

Road & Rail–4.07%
†Genesee & Wyoming Class A		194,400		18,528,264


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Road & Rail (continued)
Landstar System		58,300		$ 4,208,677


				22,736,941

Software–8.20%
Advent Software		139,821		4,412,751
†ANSYS		126,300		9,557,121
†Bottomline Technologies		67,500		1,862,325
†Concur Technologies		60,000		7,609,200
FactSet Research Systems		50,900		6,185,877
†Guidewire Software		95,000		4,212,300
Pegasystems		191,989		3,668,910
†SS&C Technologies Holdings		190,000		8,339,100


				45,847,584

Specialty Retail–2.13%
†Container Store Group		76,500		1,665,405
Dick’s Sporting Goods		233,300		10,237,204


				11,902,609

Textiles, Apparel & Luxury Goods–3.39%
†Under Armour Class A		274,000		18,933,400


				18,933,400

Trading Companies & Distributors–2.12%
Air Lease		225,000		7,312,500
MSC Industrial Direct Class A		53,400		4,563,564


				11,876,064

Total Common Stock (Cost $270,522,617)				552,412,733


CONEVERTIABLE PREFERRED STOCK–0.18%
Diversified Telecommunication Services–0.18%
Iridium Communications 6.75% exercise price $7.47		2,926		997,283


Total Convertible Preferred Stock (Cost $731,500)				997,283


MONEY MARKET FUND–1.27%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		7,137,137		7,137,137


Total Money Market Fund (Cost $7,137,137)				7,137,137

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

DCOMMON STOCK–78.46%
Brazil–5.68%
AES Tiete		6,100	$	40,652
All America Latina Logistica		26,400		68,497
AMBEV		295,500		1,945,127
Arteris		5,857		37,572
Banco Bradesco		52,530		757,879
Banco do Brasil		73,400		763,571
BB Seguridade Participacoes		34,800		459,137
BM&FBovespa		85,900		394,156
BR Malls Participacoes		22,300		175,309
BR Properties		9,300		49,019
Bradespar		1,800		11,260
BRF		26,300		627,572
CCR		49,200		339,740
Centrais Eletricas Brasileiras		10,800		28,992
CETIP		10,715		133,095
Cia de Saneamento Basico do Estadode Sao Paulo		16,900		137,070
Cia de Saneamento de Minas Gerais		4,000		52,349
=Cia de Transmissao de Energia Eletrica Paulista NVDR		115		1,672
Cia Energetica de Minas Gerais		6,582		41,470
Cia Paranaense de Energia		1,000		9,553
Cia Siderurgica Nacional		46,800		167,129
Cielo		34,460		560,816
Cosan Class A		9,592		103,210
Cosan Industria e Comercio		8,300		132,263
CPFL Energia		16,200		126,693
†CPFL Energias Renovaveis		4,300		24,721
Cyrela Brazil Realty		7,800		39,360
Duratex		13,200		48,433
EcoRodovias Infraestrutura e Logistica		8,600		41,956
Embraer		37,000		364,195
Energias do Brasil		12,600		51,123
Estacio Participacoes		18,200		189,407
†Fibria Celulose		9,800		107,594
@Gerdau		7,300		29,440
Grupo BTG Pactual		13,400		174,823
Guararapes Confeccoes		200		8,172
†Hypermarcas		21,600		155,685
Itau Unibanco Holding		16,731		214,589
Itausa - Investimentos Itau		55,177		214,180
JBS		56,100		211,343
Klabin		26,600		128,902
Kroton Educacional		77,772		488,736
Localiza Rent a Car		6,730		96,740
Lojas Americanas		7,350		34,567
Lojas Renner		5,900		170,631
M Dias Branco		1,700		68,190
Metalurgica Gerdau		1,409		6,621
Multiplan Empreendimentos Imobiliarios		5,300		108,365
Multiplus		1,800		21,579


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Brazil (continued)
Natura Cosmeticos		9,000	$	136,798
Odontoprev		9,900		35,840
Oi		35,700		25,381
Petroleo Brasileiro		142,400		1,012,405
Porto Seguro		3,100		36,100
†Qualicorp		10,000		98,962
Raia Drogasil		7,600		66,019
Souza Cruz		19,400		156,078
Sul America		8,357		51,561
Telefonica Brasil		1,700		28,118
Tim Participacoes		36,400		190,820
Totvs		6,300		95,630
Tractebel Energia		11,500		162,534
Transmissora Alianca de Energia Eletrica		5,800		46,852
Ultrapar Participacoes		19,700		417,842
†Usinas Siderurgicas de Minas Gerais		8,800		23,695
Vale		77,600		853,873
†Via Varejo		4,600		45,654
WEG		17,020		199,102


				13,846,419

¨China–14.62%
58.com ADR		1,371		51,070
AAC Technologies Holdings		32,500		188,767
Agile Property Holdings		88,000		54,059
Agricultural Bank of China		1,177,000		521,437
Air China		88,000		55,646
†Aluminum Corp of China		206,000		83,834
Angang Steel		56,000		35,339
Anhui Conch Cement		55,500		177,260
ANTA Sports Products		57,000		116,131
†Autohome ADR		2,168		91,078
AviChina Industry & Technology		100,000		71,476
†Baidu ADR		14,347		3,130,946
Bank of China		4,125,000		1,848,716
Bank of Communications		436,000		303,774
Baoxin Auto Group		42,500		31,855
BBMG		42,000		29,100
Beijing Capital International Airport		50,000		38,249
Biostime International Holdings		8,500		26,436
†BOE Technology Group Class B		86,700		28,584
BYD		30,000		199,167
China BlueChemical		122,000		52,949
†China Cinda Asset Management		189,000		83,244
China CITIC Bank		364,000		220,795
China Coal Energy		188,000		109,921
China Communications Construction		211,000		152,173
China Communications Services		154,000		71,597
China Construction Bank		4,574,000		3,204,513
†China COSCO Holdings		64,000		26,540
†China Eastern Airlines		94,000		30,265


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
¨China (continued)
China Galaxy Securities		73,000	$	50,861
China Hongqiao Group		71,000		53,308
China Huishan Dairy Holdings		239,000		52,941
China International Marine Containers Group		29,300		60,450
China Life Insurance		360,000		999,118
China Longyuan Power Group		134,000		130,983
China Merchants Bank		204,582		349,891
China Merchants Property Development Class B		16,350		26,763
China Minsheng Banking		315,300		288,303
China Molybdenum		96,000		58,479
China National Building Material		120,000		108,798
China Oilfield Services		102,000		269,290
China Pacific Insurance Group		117,000		411,354
China Petroleum & Chemical		1,232,000		1,078,913
China Railway Construction		105,500		95,923
China Railway Group		171,000		90,732
China Shenhua Energy		166,000		462,842
†China Shipping Container Lines		192,000		51,679
†China Shipping Development		68,000		42,649
China Southern Airlines		78,000		25,515
China Telecom		638,000		391,106
†China Vanke Class B		77,900		137,644
Chongqing Changan Automobile Class B		44,900		96,452
Chongqing Rural Commercial Bank		74,000		33,546
CNOOC		828,000		1,420,370
Country Garden Holdings		266,000		100,373
CSG Holding Class B		38,400		28,881
CSR		106,000		93,238
†Ctrip.com International ADR		7,941		450,731
Datang International Power Generation		168,000		87,626
Dongfang Electric		13,400		24,126
Dongfeng Motor Group		126,000		207,056
ENN Energy Holdings		36,000		235,523
Evergrande Real Estate Group		291,000		109,432
†FIH Mobile		112,000		58,273
Fosun International		56,000		67,216
Golden Eagle Retail Group		17,000		19,770
Great Wall Motor		47,000		182,495
Greentown China Holdings		39,500		36,983
Guangdong Electric Power Development Class B		31,700		20,943
Guangshen Railway		98,000		38,746
Guangzhou Automobile Group		104,000		100,587
Guangzhou Baiyunshan Pharmaceutical Holdings		12,000		41,108
Guangzhou R&F Properties		56,800		57,423
Haitong Securities		71,200		109,851
Hengan International Group		40,500		398,227


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
¨China (continued)
Huadian Fuxin Energy		86,000	$	50,394
Huadian Power International		60,000		42,267
Huaneng Power International		180,000		196,578
Huaneng Renewables		150,000		49,260
Industrial & Commercial Bank of China		3,843,000		2,395,426
Inner Mongolia Yitai Coal		13,600		19,687
Inner Mongolia Yitai Coal Class B		57,200		97,297
Intime Retail Group		29,000		24,650
†JD.com ADR		11,878		306,631
Jiangsu Expressway		52,000		54,847
Jiangxi Copper		80,000		131,670
†Jumei International Holding ADR		2,207		51,820
Kingsoft		29,000		68,944
Lenovo Group		366,000		544,886
Longfor Properties		63,500		72,620
†Luye Pharma Group		40,000		51,257
Metallurgical Corp of China		160,000		43,890
Mindray Medical International ADR		6,678		201,408
NetEase ADR		4,483		384,014
New China Life Insurance		29,600		103,116
†New Oriental Education & Technology Group ADR		9,169		212,721
People’s Insurance Group of China		229,000		93,489
PetroChina		1,034,000		1,324,984
PICC Property & Casualty		134,000		237,460
Ping An Insurance Group of China		89,500		671,983
†Qihoo 360 Technology ADR		4,572		308,473
Shandong Weigao Group Medical Polymer		96,000		94,951
Shanghai Electric Group		162,000		86,165
Shanghai Fosun Pharmaceutical Group		17,000		54,843
Shanghai Lujiazui Finance & Trade Zone Development Class B		25,700		42,122
Shanghai Pharmaceuticals Holding		38,800		94,841
†Shanghai Zhenhua Heavy Industries Class B		107,200		49,205
Shenzhou International Group Holdings		18,000		57,953
Shui On Land		95,500		21,400
Sihuan Pharmaceutical Holdings Group		218,000		163,398
†SINA		4,837		198,994
Sino-Ocean Land Holdings		270,000		142,218
Sinopec Shanghai Petrochemical		234,000		77,148
†Sinopec Yizheng Chemical Fibre		162,000		75,525
Sinopharm Group		43,200		158,004
SOHO China		119,000		86,129
†Sohu.com		2,791		140,192
SouFun Holdings ADR		9,124		90,784
Sun Art Retail Group		183,500		207,490
Tencent Holdings		244,500		3,636,870


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
¨China (continued)
Tingyi Cayman Islands Holding		104,000	$	273,231
Tsingtao Brewery		18,000		128,193
@Uni-President China Holdings		90,000		89,944
†Vipshop Holdings ADR		1,702		321,695
Want Want China Holdings		316,000		393,939
†Weibo ADR		2,785		52,052
Weichai Power		25,000		90,311
Weifu High-Technology Group Class B		3,900		13,591
Xinjiang Goldwind Science & Technology		21,200		36,367
Yantai Changyu Pioneer Wine Class B		12,600		40,730
Yanzhou Coal Mining		104,000		85,318
†Youku Tudou ADR		9,717		174,129
YY ADR		1,570		117,577
Zhejiang Expressway		52,000		52,838
Zhongsheng Group Holdings		37,000		39,645
Zhuzhou CSR Times Electric		28,000		108,180
Zijin Mining Group		282,000		68,640
Zoomlion Heavy Industry Science & Technology		59,800		34,887
ZTE		17,600		39,031


				35,669,741

Colombia–0.86%
Almacenes Exito		11,594		171,191
Banco de Bogota		5,154		184,475
Bancolombia		11,538		158,171
Celsia		19,947		59,890
Cementos Argos		25,213		134,470
†Cemex Latam Holdings		9,618		85,684
Corp Financiera Colombiana		3,044		60,369
Ecopetrol		224,695		352,855
Empresa de Energia de Bogota		112,169		89,181
Grupo Argos		16,469		186,242
Grupo de Inversiones Suramericana		12,912		261,429
Grupo Nutresa		12,391		169,619
Interconexion Electrica		23,598		109,425
Isagen		50,532		68,749


				2,091,750

Cyprus–0.05%
Globaltrans Investment GDR		4,648		39,043
QIWI ADR		2,224		70,256


				109,299

Czech Republic–0.22%
CEZ		9,729		295,902
Komercni Banka		646		153,709
O2 Czech Republic		5,448		78,343


				527,954


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Egypt–0.00%
Commercial International Bank Egypt		1	$	4


				4

Greece–0.40%
†Alpha Bank		126,258		97,919
†Eurobank Ergasias		485,416		191,296
†Hellenic Petroleum		5,309		34,736
†Hellenic Telecommunications Organization		12,102		158,975
†National Bank of Greece		73,666		215,870
OPAP		11,724		153,269
†Piraeus Bank		43,790		74,117
†Public Power		4,630		54,973


				981,155

nHong Kong–4.56%
ASM Pacific Technology		13,900		137,571
Beijing Enterprises Holdings		28,000		239,979
Beijing Enterprises Water Group		178,000		120,350
Beijing Jingneng Clean Energy		68,000		29,162
Belle International Holdings		288,000		323,798
BOC Hong Kong Holdings		204,500		651,832
Brilliance China Automotive Holdings		126,000		220,038
China Agri-Industries Holdings		139,100		52,846
China Everbright		44,000		82,505
China Everbright International		110,000		145,631
China Gas Holdings		130,000		215,638
China Mengniu Dairy		77,000		317,327
China Merchants Holdings International		72,000		222,541
China Mobile		274,500		3,172,808
China Overseas Land & Investment		202,000		519,773
China Resources Cement Holdings		112,000		76,736
China Resources Enterprise		56,000		132,556
China Resources Gas Group		36,000		97,362
China Resources Land		106,000		218,420
China Resources Power Holdings		102,000		275,202
China State Construction International Holdings		70,000		104,033
†China Taiping Insurance Holdings		51,400		111,474
China Unicom Hong Kong		250,000		373,478
Chow Tai Fook Jewelry Group		56,000		72,841
CITIC		279,000		465,668
†Citic 21CN		190,000		115,495
COSCO Pacific		68,000		90,201
CSPC Pharmaceutical Group		82,000		67,903
Far East Horizon		108,000		96,666
Franshion Properties China		264,000		64,259
†GCL-Poly Energy Holdings		410,000		150,486
Geely Automobile Holdings		230,000		96,267
Guangdong Investment		108,000		126,153
Haier Electronics Group		66,000		172,972


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
nHong Kong (continued)
Haitian International Holdings		25,000	$	56,794
Hanergy Solar Group		706,000		130,019
†Hopson Development Holdings		30,000		25,886
Kerry Properties		38,000		127,729
Kingboard Chemical Holdings		30,500		60,648
Kunlun Energy		192,000		276,940
Lee & Man Paper Manufacturing		67,000		33,997
New World China Land		128,000		72,532
Nine Dragons Paper Holdings		80,000		57,593
NWS Holdings		62,000		110,349
Shanghai Industrial Holdings		16,000		47,393
Shangri-La Asia		86,000		127,590
Shimao Property Holdings		76,500		154,875
†Shunfeng Photovoltaic International		40,000		36,111
Sino Biopharmaceutical		120,000		119,461
Sinopec Engineering Group		35,000		37,728
#†WH Group 144A		172,500		141,735
Yue Yuen Industrial Holdings		47,000		142,546


				11,119,897

Hungary–0.13%
MOL Hungarian Oil & Gas		2,218		108,633
OTP Bank		8,175		138,892
Richter Gedeon		4,959		77,601


				325,126

India–2.48%
Axis Bank GDR		17,328		529,856
Dr. Reddy’s Laboratories ADR		6,983		366,957
HDFC Bank ADR		14,727		685,984
ICICI Bank ADR		11,355		557,531
Infosys ADR		14,391		870,512
Larsen & Toubro GDR		8,973		211,763
Mahindra & Mahindra GDR		20,259		449,345
†Ranbaxy Laboratories GDR		30,419		311,491
#Reliance Industries GDR 144A		23,715		723,307
State Bank of India GDR		4,963		392,077
Tata Motors ADR		12,107		529,197
Wipro ADR		34,300		417,088


				6,045,108

Indonesia–2.15%
Adaro Energy		725,200		69,931
Astra Agro Lestari		17,000		32,089
Astra International		1,020,100		590,210
Bank Central Asia		593,500		636,850
Bank Danamon Indonesia		160,000		51,276
Bank Mandiri Persero		487,200		402,835
Bank Negara Indonesia Persero		333,100		151,036
Bank Rakyat Indonesia Persero		523,200		447,629
†Bank Tabungan Pensiunan Nasional		136,500		51,531
Bumi Serpong Damai		408,000		51,732
Charoen Pokphand Indonesia		422,000		146,843


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Indonesia (continued)
Global Mediacom		251,500	$	40,145
Gudang Garam		24,500		113,955
Indo Tambangraya Megah		23,000		49,030
Indocement Tunggal Prakarsa		64,700		114,426
Indofood CBP Sukses Makmur		59,500		55,423
Indofood Sukses Makmur		204,000		117,193
Jasa Marga Persero		99,500		52,669
Kalbe Farma		1,394,800		194,597
Lippo Karawaci		883,500		68,157
Matahari Department Store		37,300		49,667
Mayora Indah		52,333		130,994
Media Nusantara Citra		228,500		59,914
Perusahaan Gas Negara Persero		579,600		285,400
Semen Indonesia Persero		137,400		173,935
Surya Citra Media		241,500		75,809
Tambang Batubara Bukit Asam Persero		47,000		50,915
Telekomunikasi Indonesia Persero		2,352,500		562,785
Tower Bersama Infrastructure		95,500		62,700
Unilever Indonesia		54,500		142,232
United Tractors		65,400		106,808
Vale Indonesia		139,500		42,932
XL Axiata		109,000		55,462


				5,237,110

Luxembourg–0.01%
O’Key Group GDR		2,545		18,579


				18,579

Malaysia–3.75%
AirAsia		106,500		82,148
AMMB Holdings		73,900		154,784
Astro Malaysia Holdings		57,000		58,216
Axiata Group		258,000		550,610
Batu Kawan		12,100		70,460
British American Tobacco Malaysia		8,000		171,951
Bumi Armada		145,350		84,197
CIMB Group Holdings		279,600		599,265
DiGi.com		205,200		365,982
Felda Global Ventures Holdings		136,300		146,689
Gamuda		93,200		136,959
Genting		90,800		262,711
Genting Malaysia		126,100		160,701
Hong Leong Bank		18,700		83,352
Hong Leong Financial Group		6,500		34,878
IHH Healthcare		144,600		223,954
IJM		42,800		84,426
IOI		204,200		299,452
IOI Properties Group		91,449		73,048
KLCCP Stapled Group		23,300		47,168
Kuala Lumpur Kepong		28,400		182,522
Lafarge Malaysia		26,900		84,473


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Malaysia (continued)
Malayan Banking		251,700	$	764,309
Malaysia Airports Holdings		18,400		42,017
Maxis		167,700		331,310
MISC		62,300		128,209
MMC		45,300		32,870
Nestle Malaysia		4,700		95,146
Petronas Chemicals Group		156,100		296,971
Petronas Dagangan		17,500		106,707
Petronas Gas		39,600		276,717
PPB Group		35,700		154,555
Public Bank		138,160		796,105
RHB Capital		34,900		93,953
Sapurakencana Petroleum		181,900		228,484
Sime Darby		172,700		481,770
SP Setia		50,500		52,963
Telekom Malaysia		101,200		203,634
Tenaga Nasional		181,800		686,184
@UEM Sunrise		73,400		40,728
UMW Holdings		24,800		92,698
Westports Holdings		38,200		35,521
YTL		288,200		147,615
†YTL Power International		204,120		102,060


				9,148,472

Mexico–4.67%
Alfa Class A		156,200		537,497
Alpek		17,877		32,942
America Movil		1,269,500		1,600,822
Arca Continental		45,500		312,461
†Cemex CPO		626,697		816,863
Coca-Cola Femsa		21,600		217,866
Compartamos		59,600		127,625
Concentradora Fibra Danhos		23,500		63,887
Controladora Comercial Mexicana		20,900		78,317
El Puerto de Liverpool		6,500		75,191
Fibra Uno Administracion		101,200		333,012
Fomento Economico Mexicano		93,200		857,376
Fresnillo		9,504		117,093
†Gruma Class B		9,900		106,035
Grupo Aeroportuario del Pacifico Class B		19,400		130,798
Grupo Aeroportuario del Sureste Class B		11,800		152,303
Grupo Bimbo Class A		124,500		361,093
Grupo Carso Class A1		27,500		160,666
Grupo Comercial Chedraui		20,300		71,714
Grupo Elektra		4,665		131,997
Grupo Financiero Banorte		138,200		885,341
Grupo Financiero Inbursa		108,800		311,181
Grupo Financiero Santander Mexico Class B		66,100		178,961
Grupo Lala		43,300		106,105


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Mexico (continued)
Grupo Mexico Class B		200,400	$	673,622
Grupo Sanborns		19,200		32,148
Grupo Televisa CPO		145,900		990,525
†IDEAL Class B1		50,800		166,483
†Industrias CH Class B		9,300		50,150
Industrias Penoles		6,605		151,517
Infraestructura Energetica Nova		13,500		82,492
Kimberly-Clark de Mexico Class A		77,500		182,927
Megacable Holdings		10,300		48,907
Mexichem		55,300		230,327
†Minera Frisco		31,700		58,272
†OHL Mexico		22,700		61,628
Organizacion Soriana Class B		16,400		54,492
†Promotora y Operadora de Infraestructura		11,800		161,575
Wal-Mart de Mexico Series V		275,000		692,313


				11,404,524

Morocco–0.22%
Attijariwafa Bank		4,951		194,682
Banque Centrale Populaire		4,895		108,235
BMCE Bank		2,385		59,858
Douja Promotion Groupe Addoha		6,614		38,401
Maroc Telecom		10,485		142,150


				543,326

Peru–0.39%
Alicorp Class C		44,793		124,016
BBVA Banco Continental		19,816		33,123
Cia de Minas Buenaventura ADR		14,623		169,334
Credicorp		3,878		594,846
†Sociedad Minera Cerro Verde		1,206		29,547


				950,866

Philippines–1.21%
Aboitiz Equity Ventures		122,060		146,363
Aboitiz Power		132,000		119,666
Alliance Global Group		186,700		107,991
Ayala		7,660		126,105
Ayala Land		312,000		242,590
BDO Unibank		60,580		132,144
†Bloomberry Resorts		141,400		42,404
DMCI Holdings		49,000		86,063
Emperador		168,500		41,310
Energy Development		491,400		88,441
Globe Telecom		2,200		79,435
GT Capital Holdings		2,120		49,993
International Container Terminal Services		31,600		77,612
JG Summit Holdings		123,629		159,246
Jollibee Foods		18,580		81,016
LT Group		204,900		71,293
Manila Electric		9,920		56,011


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Philippines (continued)
Megaworld		559,000	$	62,553
Metro Pacific Investments		556,000		60,610
Metropolitan Bank & Trust		52,432		101,248
Petron		207,800		54,458
Philippine Long Distance Telephone		4,105		282,921
San Miguel		21,640		37,551
Semirara Mining & Power		17,100		46,792
SM Investments		14,212		254,045
SM Prime Holdings		419,500		163,134
†Travellers International Hotel Group		87,700		19,120
Universal Robina		40,190		167,198


				2,957,313

Poland–1.25%
Bank Handlowy w Warszawie		1,490		56,252
Bank Millennium		11,313		30,034
Bank Pekao		6,615		387,989
Bank Zachodni WBK		1,249		149,005
Cyfrowy Polsat		5,738		47,935
Enea		2,486		12,163
ING Bank Slaski		1,650		73,754
KGHM Polska Miedz		7,261		277,414
LPP		41		122,591
mBank		529		78,607
Orange Polska		50,001		175,932
PGE		42,120		266,764
Polski Koncern Naftowy Orlen		14,758		183,862
Polskie Gornictwo Naftowe i Gazownictwo		88,908		135,873
Powszechna Kasa Oszczednosci Bank Polski		41,557		497,780
Powszechny Zaklad Ubezpieczen		3,195		464,631
Tauron Polska Energia		50,376		81,703


				3,042,289

Republic of Korea–11.44%
Amorepacific		170		385,459
AMOREPACIFIC Group		151		167,325
BS Financial Group		8,958		143,505
†Celltrion		2,479		115,026
CJ		812		133,929
CJ CheilJedang		346		127,091
Coway		2,552		203,928
Daelim Industrial		1,371		98,119
†Daewoo Engineering & Construction		6,943		50,545
Daewoo International		2,500		88,985
†Daewoo Securities		13,036		132,838
Daewoo Shipbuilding & Marine Engineering		4,753		91,460
Dongbu Insurance		2,215		124,928
Doosan		454		44,541


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Republic of Korea (continued)
Doosan Heavy Industries & Construction		2,567	$	63,387
†Doosan Infracore		6,520		68,602
E-Mart		910		198,829
GS Holdings		2,358		90,078
Halla Visteon Climate Control		1,630		79,109
Hana Financial Group		14,297		521,764
Hankook Tire		3,534		172,521
Hanwha		3,020		84,306
Hanwha Chemical		4,540		58,958
Hanwha Life Insurance		8,401		56,540
Hotel Shilla		1,595		180,674
Hyosung		1,206		86,425
Hyundai Department Store		560		85,198
Hyundai Development		2,510		101,594
Hyundai Engineering & Construction		3,386		193,541
Hyundai Glovis		851		259,749
Hyundai Heavy Industries		2,034		265,107
Hyundai Mipo Dockyard		565		66,411
Hyundai Mobis		3,641		886,997
Hyundai Motor		8,042		1,452,202
Hyundai Rotem		1,190		24,196
Hyundai Steel		3,198		224,932
Hyundai Wia		713		145,310
Industrial Bank of Korea		10,180		153,913
Kangwon Land		6,702		227,752
KB Financial Group		16,894		617,341
@KCC		192		130,857
KEPCO Engineering & Construction		430		26,413
Kia Motors		13,796		702,256
Korea Aerospace Industries		3,127		120,788
Korea Electric Power		13,109		598,942
†Korea Gas		2,017		105,157
Korea Investment Holdings		2,023		106,237
Korea Zinc		432		159,704
†Korean Air Lines		1,522		51,938
KT		7,153		232,568
KT&G		5,795		519,103
Kumho Petro Chemical		746		49,571
LG		5,680		413,502
LG Chem		2,242		542,994
†LG Display		12,056		388,553
LG Electronics		5,693		354,548
LG Household & Health Care		453		217,708
LG Uplus		16,646		194,870
Lotte Chemical		807		107,478
Lotte Shopping		521		156,060
LS		607		38,436
NAVER		1,446		1,106,140
NCSoft		684		87,206
†OCI		708		87,246
Orion		160		132,708


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Republic of Korea (continued)
Paradise		2,735	$	89,572
POSCO		3,411		1,062,148
Samsung C&T		6,341		454,410
Samsung Card		1,545		76,448
Samsung Electro-Mechanics		2,616		122,747
Samsung Electronics		5,685		6,380,437
†Samsung Engineering		1,333		76,067
Samsung Fire & Marine Insurance		1,819		487,101
Samsung Heavy Industries		7,569		181,162
Samsung Life Insurance		4,278		429,848
Samsung SDI		2,698		313,290
Samsung Securities		3,029		126,621
Samsung Techwin		1,482		49,590
Shinhan Financial Group		19,029		876,638
Shinsegae		325		67,622
SK C&C		667		153,322
SK Holdings		1,471		262,840
†SK Hynix		28,134		1,246,755
SK Innovation		3,448		265,067
S-Oil		2,993		121,428
†Woori Finance Holdings		13,762		170,239


				27,917,450

Russia–4.40%
Alrosa		73,300		65,705
Bashneft		2,065		65,438
E.ON Russia		530,000		33,590
Federal Grid Unified Energy System		12,310,000		17,546
Gazprom		573,688		1,997,585
†Inter RAO		94,700,000		21,186
†Lenta GDR		8,218		89,846
Lukoil		24,836		1,263,636
Magnit		2,731		684,067
†Magnitogorsk Iron & Steel Works		74,200		14,618
†Mail.ru Group GDR		6,561		184,430
MegaFon		5,251		135,241
MMC Norilsk Nickel		2,512		464,297
=Mobile Telesystems		54,150		374,640
Moscow Exchange		63,710		94,108
NovaTek		113,134		1,167,717
Novolipetsk Steel		30,100		43,793
=OTCPharm		2,532		27
PhosAgro		900		30,075
Polymetal International		9,179		76,781
Rosneft		57,980		339,650
†Rosseti		457,000		6,058
Rostelecom		63,400		167,963
RusHydro Management		7,627,000		135,502
Sberbank of Russia		459,260		875,762
Severstal		15,720		156,193
Sistema JSFC		152,500		50,559
Surgutneftegas		1,774,000		1,166,433


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Russia (continued)
Tatneft		73,200	$	428,809
TMK		13,497		30,195
†United RUSAL		67,000		37,276
Uralkali		87,920		310,467
VTB Bank		210,920,000		202,593


				10,731,786

South Africa–6.13%
African Rainbow Minerals		7,982		101,341
†Anglo American Platinum		2,518		81,683
†AngloGold Ashanti		19,416		238,268
Aspen Pharmacare Holdings		15,374		458,415
Assore		2,410		45,914
Barclays Africa Group		19,685		268,850
Barloworld		10,517		86,203
Bidvest Group		16,095		407,606
Capitec Bank Holdings		2,677		58,022
Coronation Fund Managers		14,952		128,052
Discovery		15,193		132,378
Exxaro Resources		8,203		93,273
FirstRand		184,184		702,117
Foschini Group		9,393		97,548
Gold Fields		51,693		202,507
Growthpoint Properties		95,008		207,438
†Impala Platinum Holdings		25,352		195,442
Imperial Holdings		9,629		148,420
Kumba Iron Ore		6,311		149,050
Liberty Holdings		6,683		72,969
Life Healthcare Group Holdings		48,192		190,201
†Lonmin		9,377		28,126
Massmart Holdings		6,144		66,828
Mediclinic International		21,960		179,003
MMI Holdings		68,754		159,681
Mr Price Group		8,996		169,257
MTN Group		85,002		1,795,050
Naspers Class N		20,920		2,307,905
Nedbank Group		14,529		281,792
Netcare		70,033		196,162
Pick n Pay Stores		13,295		62,179
Rand Merchant Insurance Holdings		39,939		125,282
Redefine Properties		136,042		117,173
Remgro		24,364		492,276
RMB Holdings		33,786		169,749
Sanlam		94,192		545,022
Santam		3,100		57,834
Sasol		31,265		1,699,236
Shoprite Holdings		21,260		263,685
Standard Bank Group		62,496		723,517
Steinhoff International Holdings		124,745		597,786
Tiger Brands		8,958		250,381
Truworths International		17,934		107,983
Tsogo Sun Holdings		15,423		35,054


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
South Africa (continued)
Vodacom Group		18,131	$	208,858
Woolworths Holdings		42,005		260,209


				14,965,725

Taiwan–9.36%
Advanced Semiconductor Engineering		306,000		356,095
Advantech		18,690		132,098
Asia Cement		129,805		165,777
Asustek Computer		37,000		352,728
AU Optronics		370,000		156,295
Catcher Technology		35,000		324,458
Cathay Financial Holding		440,743		717,910
Chang Hwa Commercial Bank		134,803		82,646
Cheng Shin Rubber Industry		65,750		145,030
China Development Financial Holding		557,000		171,018
China Steel		638,885		546,055
Chunghwa Telecom		211,000		636,052
Compal Electronics		206,000		154,060
CTBC Financial Holding		801,346		538,709
Delta Electronics		113,000		713,215
E.Sun Financial Holding		279,146		169,304
Epistar		34,000		63,596
†Evergreen Marine Taiwan		44,000		25,819
Far Eastern New Century		180,071		181,432
Far EasTone Telecommunications		82,000		157,153
First Financial Holding		371,007		223,799
Formosa Chemicals & Fibre		240,070		554,797
Formosa Petrochemical		97,000		235,325
Formosa Plastics		277,560		657,859
Foxconn Technology		42,263		104,475
Fubon Financial Holding		449,000		689,293
Hon Hai Precision Industry		644,784		2,034,821
Hotai Motor		24,000		326,627
†HTC		42,000		182,249
Hua Nan Financial Holdings		354,186		206,667
Innolux		387,050		167,314
†Inotera Memories		93,000		138,185
Inventec		103,000		67,041
Largan Precision		5,000		358,317
Lite-On Technology		111,095		160,142
MediaTek		71,910		1,064,939
Mega Financial Holding		544,423		446,527
Nan Ya Plastics		290,800		636,663
Novatek Microelectronics		26,000		128,632
Pegatron		69,000		127,022
Pou Chen		135,000		150,000
President Chain Store		27,000		193,491
Quanta Computer		140,000		355,293
Shin Kong Financial Holding		469,368		142,415
Siliconware Precision Industries		144,000		197,633
SinoPac Financial Holdings		377,274		161,848
Synnex Technology International		75,000		103,550


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Taiwan (continued)
Taishin Financial Holding		540,078	$	252,995
Taiwan Cement		188,000		279,961
Taiwan Cooperative Financial Holding		288,540		155,557
Taiwan Fertilizer		51,000		84,329
Taiwan Glass Industry		73,000		60,473
Taiwan Mobile		104,000		315,556
Taiwan Semiconductor Manufacturing		1,236,000		4,875,740
TPK Holding		14,000		83,991
Uni-President Enterprises		254,518		441,767
United Microelectronics		593,000		245,621
Wistron		115,416		117,806
Yuanta Financial Holding		538,125		265,348
Yulon Motor		26,000		38,889
Yulon Nissan Motor		1,000		10,043


				22,832,450

Thailand–2.33%
Advanced Info Service NVDR		68,700		476,569
Airports of Thailand - Foreign		20,200		148,845
Bangkok Bank NVDR		35,200		221,390
Bangkok Dusit Medical Services - Foreign		216,000		123,200
Bank of Ayudhya NVDR		147,700		221,994
Banpu - Foreign		62,000		56,390
BEC World - Foreign		62,000		89,841
Berli Jucker - Foreign		24,400		34,793
Big C Supercenter NVDR		13,800		98,283
BTS Group Holdings NVDR		123,400		38,045
Central Pattana - Foreign		84,900		121,716
Charoen Pokphand Foods - Foreign		145,700		135,885
CP ALL NVDR		250,300		345,335
Glow Energy - Foreign		31,400		92,211
Home Product Center - Foreign		34		11
Home Product Center NVDR		145,828		46,758
Indorama Ventures - Foreign		80,500		63,288
Intouch Holdings - Foreign		9,500		21,674
Intouch Holdings NVDR		35,400		79,127
IRPC - Foreign		586,900		57,903
Kasikornbank NVDR		62,400		452,104
Krung Thai Bank - Foreign		209,100		152,788
Land & Houses NVDR		140,040		44,903
Minor International - Foreign		35,900		40,953
Minor International NVDR		67,800		77,342
PTT Exploration & Production NVDR		83,100		409,928
PTT Global Chemical NVDR		72,400		136,162
PTT NVDR		49,900		553,846
Robinson Department Store NVDR		10,200		16,589
SCB Life Assurance NVDR		200		7,079
Siam Cement NVDR		19,200		266,379
Siam City Cement NVDR		3,500		46,832
Siam Commercial Bank NVDR		81,000		454,509
Thai Oil - Foreign		51,200		81,295


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Thailand (continued)
Thai Union Frozen Products - Foreign		30,700	$	70,042
TMB Bank - Foreign		917,700		87,144
Total Access Communication NVDR		39,000		126,252
†True NVDR		516,051		189,333


				5,686,738

Turkey–1.30%
Akbank		82,000		267,258
†Anadolu Efes Biracilik Ve Malt Sanayii		13,470		155,610
Arcelik		11,710		62,495
BIM Birlesik Magazalar		11,285		236,199
Coca-Cola Icecek		4,593		99,159
Emlak Konut Gayrimenkul Yatirim Ortakligi REIT		84,514		88,352
Enka Insaat ve Sanayi		35,375		80,800
Eregli Demir ve Celik Fabrikalari		85,078		158,078
†Ford Otomotiv Sanayi		4,019		46,164
Haci Omer Sabanci Holding		40,966		172,386
KOC Holding		45,148		208,229
Tofas Turk Otomobil Fabrikasi		6,590		37,052
Tupras Turkiye Petrol Rafinerileri		7,959		159,942
†Turk Hava Yollari		32,588		92,614
Turk Telekomunikasyon		34,175		90,219
†Turkcell Iletisim Hizmetleri		45,194		236,233
Turkiye Garanti Bankasi		114,537		402,484
Turkiye Halk Bankasi		28,611		172,174
Turkiye Is Bankasi Class C		82,672		183,748
Turkiye Sise ve Cam Fabrikalari		29,478		37,420
Turkiye Vakiflar Bankasi Tao Class D		65,941		122,231
Yapi ve Kredi Bankasi		34,564		67,865


				3,176,712

United Arab Emirates–0.85%
Abu Dhabi Commercial Bank		126,881		292,594
Aldar Properties		79,263		84,594
†Arabtec Holding		46,533		58,278
DP World		9,000		186,750
Dragon Oil		10,572		102,230
Dubai Financial Market		82,016		75,028
Dubai Islamic Bank		50,000		112,988
Emaar Properties		164,932		518,646
First Gulf Bank		54,508		278,255
National Bank of Abu Dhabi		63,783		250,933
Union National Bank		64,469		117,425


				2,077,721


Total Common Stock (Cost $175,299,996)				191,407,514


EXCHANGE-TRADED FUNDS–5.34%
iShares India 50		189,464		5,617,608
iShares MSCI Chile Capped		67,856		2,893,380


	Number of Shares		Value (U.S. $)

EXCHANGE-TRADED FUNDS (continued)
iShares MSCI India		148,441	$	4,506,669


Total Exchange-Traded Funds (Cost $11,387,299)				13,017,657


DPREFERRED STOCK–4.55%
Brazil–3.51%
AES Tiete 15.51%		3,800		32,777
Alpargatas 2.91%		2,553		10,588
Banco Bradesco 2.57%		103,030		1,473,421
Banco do Estado do Rio Grande do Sul 5.43%		8,800		52,676
Bradespar 8.01%		10,400		76,064
Braskem 3.69%		6,900		45,447
Centrais Eletricas Brasileiras 16.17%		16,900		70,503
Cia Brasileira de Distribuicao Grupo Pao de Acucar 0.94%		7,800		342,003
Cia de Gas de Sao Paulo Class A 2.92%		1,100		21,992
Cia de Transmissao de Energia Eletrica Paulista 4.59%		1,900		27,599
Cia Energetica de Minas Gerais 15.56%		37,128		229,528
Cia Energetica de Sao Paulo Class B 11.87%		10,300		111,569
Cia Paranaense de Energia Class B 6.01%		6,200		84,790
Gerdau 2.76%		51,000		245,268
Itau Unibanco Holding 2.98%		132,707		1,851,196
Itausa - Investimentos Itau 3.61%		156,659		596,577
Lojas Americanas 0.72%		26,700		151,424
Metalurgica Gerdau 2.98%		13,400		77,967
Oi 21.93%		187,500		130,240
Petroleo Brasileiro 4.47%		210,300		1,563,888
Suzano Papel e Celulose 1.28%		21,600		86,757
Telefonica Brasil 7.64%		14,800		291,477
†Usinas Siderurgicas de Minas Gerais		20,500		53,022
Vale 7.43%		97,300		945,409


				8,572,182

Colombia–0.20%
Banco Davivienda 3.21%		3,488		50,296
Bancolombia 2.66%		18,100		256,350
Grupo Argos 1.17%		5,525		61,444
Grupo Aval Acciones y Valores 3.98%		65,853		45,040
Grupo de Inversiones Suramericana 2.48%		3,624		72,480


				485,610

Republic of Korea–0.59%
Amorepacific 0.64%		43		46,344
Hyundai Motor
1.77%		1,696		192,919
1.83%		1,038		116,104
LG Chem 2.91%		358		55,654
LG Electronics 0.70%		811		27,291


	Number of Shares		Value (U.S. $)

DPREFERRED STOCK (continued)
Republic of Korea (continued)
LG Household & Health Care 1.58%		184	$	47,790
Samsung Electronics 1.69%		1,048		892,084
Samsung Fire & Marine Insurance 1.45%		250		51,661


				1,429,847

Russia–0.25%
AK Transneft 0.82%		77		169,927
Bashneft		2,295		46,081
Rostelecom		8,225		14,995
Sberbank of Russia 5.72%		45,800		66,786
Surgutneftegas		416,400		287,038
Tatneft		7,000		25,456


				610,283


Total Preferred Stock (Cost $11,381,057)				11,097,922


DRIGHTS–0.00%
¨China–0.00%
Agile Property Holdings exercise price HKD3.80, expiration date 11/20/14		17,600		1,745
Country Garden Holdings exercise price HKD 2.50, expiration date 10/16/14		17,733		1,005


				2,750


	Number of Shares		Value (U.S. $)

DRIGHTS (continued)
Malaysia–0.00%
Bumi Armada exercise price MYR1.35,expiration date 10/3/14		48,450	$	8,124

				8,124


Total Rights (Cost $0)				10,874


DWARRANTS–0.00%
Thailand–0.00%
Indorama Ventures strike price THB 36.00, expiration date 8/24/17		8,050		1,027
Indorama Ventures strike price THB 43.00, expiration date 8/24/18		6,192		599


Total Warrants (Cost $0)				1,626


MONEY MARKET FUND–10.43%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		25,459,588		25,459,588


Total Money Market Fund (Cost $25,459,588)				25,459,588

The following foreign currency exchange contracts and futures contracts were outstanding at September 30, 2014:

The use of foreign currency exchange contracts and futures contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value during the period. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.

LVIP BlackRock Equity Dividend RPM Fund

Schedule of Investments (unaudited)

September 30, 2014


	Number of Shares		Value (U.S. $)
COMMON STOCK–92.71%
Aerospace & Defense–6.91%
Honeywell International		101,130	$	9,417,226
Lockheed Martin		36,950		6,753,721
Northrop Grumman		85,880		11,315,549
Raytheon		155,220		15,773,456
United Technologies		114,940		12,137,664


				55,397,616

Air Freight & Logistics–1.03%
United Parcel Service Class B		83,820		8,238,668


				8,238,668

Auto Components–0.50%
Johnson Controls		91,120		4,009,280


				4,009,280

Banks–14.74%
Bank of America		692,500		11,807,125
Citigroup		232,370		12,041,413
Fifth Third Bancorp		409,810		8,204,396
JPMorgan Chase		416,180		25,070,683
M&T Bank		15,940		1,965,243
SunTrust Banks		313,290		11,914,419
Toronto-Dominion Bank		155,180		7,658,882
U.S. Bancorp		292,500		12,235,275
Wells Fargo		524,530		27,207,371


				118,104,807

Beverages–1.45%
Coca-Cola		92,950		3,965,247
Diageo		263,018		7,610,856


				11,576,103

Capital Markets–1.02%
Morgan Stanley		237,050		8,194,820


				8,194,820

Chemicals–2.92%
Dow Chemical		112,630		5,906,317
duPont (E.I.) deNemours		188,440		13,522,454
Praxair		30,470		3,930,630


				23,359,401

Communications Equipment–1.43%
Motorola Solutions		93,280		5,902,758
QUALCOMM		74,580		5,576,347


				11,479,105

Consumer Finance–1.36%
American Express		124,710		10,917,113


				10,917,113

Containers & Packaging–0.14%
MeadWestvaco		28,319		1,159,380


				1,159,380


	Number of Shares		Value (U.S. $)
COMMON STOCK (continued)
Diversified Financial Services–0.74%
CME Group		74,250	$	5,936,659


				5,936,659

Diversified Telecommunication Services–1.99%
BCE		51,820		2,215,823
Verizon Communications		275,040		13,749,250


				15,965,073

Electric Utilities–2.09%
Duke Energy		44,310		3,313,059
ITC Holdings		59,700		2,127,111
NextEra Energy		87,840		8,246,419
Northeast Utilities		68,820		3,048,726


				16,735,315

Electrical Equipment–0.36%
Rockwell Automation		26,280		2,887,646


				2,887,646

Energy Equipment & Services–0.61%
Schlumberger		47,880		4,868,917


				4,868,917

Food & Staples Retailing–0.54%
Wal-Mart Stores		56,440		4,315,967


				4,315,967

Food Products–2.19%
General Mills		72,120		3,638,454
Kraft Foods Group		68,466		3,861,482
Mondelez International Class A		213,180		7,304,613
Unilever		69,950		2,775,616


				17,580,165

Health Care Equipment & Supplies–0.76%
Abbott Laboratories		67,630		2,812,732
Becton, Dickinson		28,808		3,278,638


				6,091,370

Health Care Providers & Services–0.43%
Quest Diagnostics		56,190		3,409,609


				3,409,609

Hotels, Restaurants & Leisure–1.29%
McDonald’s		109,370		10,369,370


				10,369,370

Household Products–1.70%
Procter & Gamble		163,080		13,656,319


				13,656,319

Industrial Conglomerates–3.47%
3M		59,350		8,408,708
General Electric		757,790		19,414,580


				27,823,288


	Number of Shares		Value (U.S. $)
COMMON STOCK (continued)
Insurance–5.25%
ACE		71,190	$	7,465,695
Chubb		55,600		5,064,048
MetLife		214,320		11,513,270
Prudential Financial		127,100		11,177,174
Travelers		73,120		6,868,893


				42,089,080

IT Services–1.60%
Automatic Data Processing		30,340		2,520,647
International Business Machines		54,100		10,269,803


				12,790,450

Leisure Products–0.41%
Mattel		106,200		3,255,030


				3,255,030

Media–2.67%
Comcast Class A		399,500		21,373,250


				21,373,250

Metals & Mining–1.09%
BHP Billiton		224,811		6,666,742
Southern Copper		68,300		2,025,095


				8,691,837

Multi-Utilities–1.94%
Dominion Resources		117,360		8,108,402
Sempra Energy		41,790		4,403,830
Wisconsin Energy		71,070		3,056,010


				15,568,242

Oil, Gas & Consumable Fuels–10.75%
Chevron		175,840		20,981,229
ConocoPhillips		59,400		4,545,288
Enbridge		115,080		5,509,165
Exxon Mobil		166,280		15,638,634
Marathon Oil		174,990		6,577,874
Marathon Petroleum		82,260		6,964,954
Occidental Petroleum		82,740		7,955,451
Phillips 66		38,500		3,130,435
Spectra Energy		98,890		3,882,421
Total ADR		170,210		10,970,036


				86,155,487

Paper & Forest Products–0.97%
International Paper		163,210		7,791,645


				7,791,645

Pharmaceuticals–8.10%
AbbVie		67,630		3,906,309
Bristol-Myers Squibb		252,980		12,947,516
Johnson & Johnson		130,290		13,887,611
Merck		289,920		17,186,458


	Number of Shares		Value (U.S. $)
COMMON STOCK (continued)
Pharmaceuticals (continued)
Pfizer		572,760	$	16,936,513


				64,864,407

Professional Services–0.37%
Nielsen Holdings		66,810		2,961,687


				2,961,687

Real Estate Investment Trusts–0.86%
American Tower		34,900		3,267,687
Weyerhaeuser		113,100		3,603,366


				6,871,053

Road & Rail–1.46%
CSX		90,550		2,903,033
Union Pacific		81,400		8,825,388


				11,728,421

Semiconductors & Semiconductor Equipment–1.97%
Intel		453,180		15,779,728


				15,779,728

Software–2.07%
Microsoft		357,700		16,582,972


				16,582,972

Specialty Retail–2.59%
Home Depot		226,330		20,763,514


				20,763,514

Textiles, Apparel & Luxury Goods–1.00%
VF		120,880		7,981,706


				7,981,706

Tobacco–1.25%
Altria Group		94,330		4,333,520
Philip Morris International		67,680		5,644,512


				9,978,032

Water Utilities–0.69%
American Water Works		114,370		5,516,065


				5,516,065


Total Common Stock (Cost $614,397,554)				742,818,597


MONEY MARKET FUND–7.03%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		56,356,741		56,356,741


Total Money Market Fund (Cost $56,356,741)				56,356,741

The use of foreign currency exchange contracts and futures contracts involves elements of market risk and risks in excess of the amount recognized in the financial statements. The notional value presented above represents the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

The use futures contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Principal Amount°		Value (U.S. $)
AGENCY MORTGAGE-BACKED SECURITIES–18.03%
Fannie Mae S.F. 30 yr
4.00% 9/1/44		4,887,198	$	5,157,352
4.00% 10/1/44		110,123,760		116,211,170
Freddie Mac S.F. 30 yr
4.00% 9/1/44		92,300,000		97,306,712


Total Agency Mortgage-Backed Securities (Cost $218,350,675)				218,675,234


COMMERCIAL MORTGAGE-BACKED SECURITIES–0.80%
#BAMLL Commercial Mortgage Securities Trust Series
2012-PARK A 144A
2.959% 12/10/30		1,014,000		997,672
Banc of America Merrill Lynch Commercial Mortgage
•Series 2005-5 A4
5.115% 10/10/45		753,611		771,828
•Series 2005-5 AM
5.176% 10/10/45		601,000		626,415
#BB-UBS Trust Series 2012-SHOW A 144A
3.43% 11/5/36		930,000		917,373
Goldman Sachs Mortgage Securities II
Series 2005-GG4 A4
4.761% 7/10/39		425,433		429,833
Series 2005-GG4 A4A
4.751% 7/10/39		2,187,459		2,204,307
#Goldman Sachs Mortgage Securities Trust Series
2012-ALOH A 144A
3.551% 4/10/34		883,000		907,839
•Greenwich Capital Commercial Funding Series 2005-GG3 A4
4.799% 8/10/42		242,471		242,942
#•Irvine Core Office Trust Series
2013-IRV A2 144A
3.279% 5/15/48		798,000		791,179
LB-UBS Commercial Mortgage Trust
•Series 2005-C5 AM
5.017% 9/15/40		751,000		773,853
•Series 2005-C7 AM
5.263% 11/15/40		667,000		696,190
Morgan Stanley Bank of America Merrill Lynch Trust
Series 2013-C7 A4
2.918% 2/15/46		357,000		348,075


Total Commercial Mortgage-Backed Securities (Cost $10,119,302)				9,707,506


	Principal Amount°		Value (U.S. $)
CORPORATE BOND–0.04%
Consumer Finance–0.04%
Caterpillar Financial Services 1.125% 12/15/14		488,000	$	488,929


Total Corporate Bond (Cost $488,739)				488,929


NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.22%
ABN Amro Mortgage
Series 2003-4 A4
5.50% 3/25/33		154,985		162,319
Series 2003-6 1A4
5.50% 5/25/33		274,342		286,804
Banc of America Mortgage Trust Series 2004-7 7A1
5.00% 8/25/19		111,339		113,882
¿Cendant Mortgage Capital Pass Through Series 2003-6 A3
5.25% 7/25/33		412,504		416,582
CHL Mortgage Pass Through Trust
¿Series 2003-35 1A3
5.00% 9/25/18		115,427		118,498
¿Series 2004-5 2A4
5.50% 5/25/34		228,035		243,226
MASTR Asset Securitization Trust Series 2003-10 3A1
5.50% 11/25/33		280,549		293,536
•PHHMC Trust Series 2007-6 A1
5.558% 12/18/37		226,551		228,060
•Sequoia Mortgage Trust Series
2011-1 A1 4.125% 2/25/41		68,457		69,391
¿WaMu Mortgage Pass Through Certificates Series 2003-S11
3A5 5.95% 11/25/33		356,190		379,844
Wells Fargo Mortgage Backed Securities Trust Series 2003-17 1A14
5.25% 1/25/34		244,423		259,630
Series 2007-3 3A1
5.50% 4/25/22		96,818		99,919


Total Non-Agency Collateralized Mortgage Obligations (Cost $2,675,796)				2,671,691


DSOVEREIGN BONDS–17.83%
France–5.88%
France Government Bond O.A.T.
0.25% 11/25/16		EUR 56,150,000		71,327,254


				71,327,254


		Principal Amount°		Value (U.S. $)
DSOVEREIGN BONDS (continued)
Germany–9.79%
Bundesrepublik Deutschland
Bundesobligation Inflation
Linked Bond
0.75% 4/15/18	EUR		4,583,348	$	6,086,822
Bundesschatzanweisungen
0.00% 9/16/16	EUR		57,650,000		72,944,489
Deutsche Bundesrepublik
Inflation Linked Bond
1.50% 4/15/16	EUR		30,548,536		39,673,243


					118,704,554


Italy–0.69%
Italy Buoni Poliennali Del
Tesoro Inflation Linked Bond
2.10% 9/15/16	EUR		5,160,698		6,825,251
2.60% 9/15/23	EUR		1,068,893		1,534,005


					8,359,256


Japan–0.07%
Japanese Government CPI
Linked Bond
1.10% 12/10/16	JPY		87,447,000		879,192


					879,192


New Zealand–0.85%
New Zealand Government Bond
3.00% 9/20/30	NZD		12,385,000		10,349,640


					10,349,640


United Kingdom–0.55%
United Kingdom Gilt Inflation
Linked Bond
0.125% 3/22/24	GBP		3,843,916		6,593,416


					6,593,416


Total Sovereign Bonds (Cost $222,481,427)					216,213,312


U.S. TREASURY OBLIGATIONS–52.03%
U.S. Treasury Inflation Index Bonds
0.125% 7/15/24			23,920,818		22,978,935
0.625% 2/15/43			51,548,215		45,604,087
0.75% 2/15/42			9,055,418		8,308,346
1.375% 2/15/44			7,094,554		7,599,487
1.75% 1/15/28			27,594,234		30,751,401
2.00% 1/15/26			16,192,901		18,449,155
2.125% 2/15/40			6,967,418		8,635,243
2.125% 2/15/41			17,851,355		22,243,074
2.375% 1/15/25			48,963,148		57,401,653
2.375% 1/15/27			23,234,160		27,529,761
2.50% 1/15/29			12,420,871		15,172,864
3.375% 4/15/32			2,607,858		3,627,775
3.625% 4/15/28			7,425,153		10,094,436
3.875% 4/15/29			8,997,635		12,706,353


	Principal Amount°		Value (U.S. $)
U.S. TREASURY OBLIGATIONS (continued)
U.S. Treasury Inflation Index Notes
0.125% 4/15/17		7,914,403	$	8,024,152
0.125% 4/15/18		84,260,365		84,973,761
0.125% 4/15/19		41,072,424		41,184,716
0.125% 1/15/22		8,437,857		8,250,309
0.125% 7/15/22		17,586,779		17,180,085
0.125% 1/15/23		7,976,687		7,723,052
0.375% 7/15/23		8,579,193		8,492,062
¥0.625% 7/15/21		20,277,312		20,701,067
0.625% 1/15/24		57,951,395		58,281,892
1.125% 1/15/21		38,523,073		40,437,207
1.25% 7/15/20		14,908,802		15,840,602
1.375% 1/15/20		23,394,560		24,900,584
2.50% 7/15/16		3,763,371		3,997,110


Total U.S. Treasury Obligations (Cost $638,359,202)				631,089,169


	Number of Shares
MONEY MARKET FUNDS–9.76%
BlackRock Liquidity TempFund		66,703,337		66,703,337
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		51,696,231		51,696,230


Total Money Market Funds (Cost $118,399,569)				118,399,567

The following foreign currency exchange contracts, futures contracts and swap contracts were outstanding at September 30, 2014:

The use of foreign currency exchange contracts, futures contracts and swap contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)
INVESTMENT COMPANIES–100.18%
Equity Funds–33.05%
Alerian MLP ETF		8,571	$	164,306
iShares Core High Dividend ETF		11,451		861,573
iShares U.S. Preferred Stock ETF		19,450		768,664


				1,794,543

Fixed Income Funds–42.15%
iShares 1-3 Year Credit Bond ETF		3,643		383,535
iShares 10+ Year Credit Bond ETF		4,622		277,043
iShares CMBS ETF		5,349		274,574
iShares iBoxx $ High Yield Corporate Bond ETF		14,726		1,354,056


				2,289,208


	Number of Shares		Value (U.S. $)
INVESTMENT COMPANIES (continued)
International Equity Funds–14.91%
iShares Emerging Markets Dividend ETF		3,447	$	155,494
iShares International Select Dividend ETF		18,279		654,206


				809,700

Money Market Fund–10.07%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		546,631		546,631


				546,631


Total Investment Companies (Cost $5,532,383)				5,440,082

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–99.54%
Aerospace & Defense–1.50%
Precision Castparts		8,115	$	1,922,281
Safran ADR		301,591		4,825,456

				6,747,737

Automobiles–1.60%
Harley-Davidson		123,978		7,215,520

				7,215,520

Beverages–2.82%
Anheuser-Busch InBev ADR		50,637		5,613,111
†Monster Beverage		77,281		7,084,349

				12,697,460

Biotechnology–8.38%
†Biogen Idec		23,684		7,834,904
†Celgene		59,015		5,593,442
†Gilead Sciences		120,190		12,794,225
†Regeneron Pharmaceuticals		17,383		6,266,919
†Vertex Pharmaceuticals		46,860		5,262,847

				37,752,337

Capital Markets–2.74%
BlackRock		20,427		6,706,593
TD AmeriTrade Holding		129,310		4,315,075
Waddell & Reed Financial Class A		25,182		1,301,658

				12,323,326

Chemicals–1.25%
Sherwin-Williams		25,724		5,633,299

				5,633,299

Construction Materials–1.22%
Eagle Materials		53,782		5,476,621

				5,476,621

Consumer Finance–1.11%
American Express		56,877		4,979,013

				4,979,013

Electrical Equipment–1.14%
AMETEK		102,546		5,148,835

				5,148,835

Food & Staples Retailing–2.15%
CVS Health		83,308		6,630,484
Whole Foods Market		79,955		3,047,085

				9,677,569

Food Products–3.61%
Keurig Green Mountain		52,221		6,795,519
Mead Johnson Nutrition		30,865		2,969,830
Mondelez International Class A		189,796		6,503,360

				16,268,709


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Health Care Providers & Services–0.27%
McKesson		6,370	$	1,240,048

				1,240,048

Health Care Technology–0.93%
†IMS Health Holdings		159,415		4,175,079

				4,175,079

Hotels, Restaurants & Leisure–6.82%
Dunkin’ Brands Group		121,674		5,453,429
Las Vegas Sands		114,197		7,104,195
Starwood Hotels & Resorts Worldwide		79,589		6,622,601
Wyndham Worldwide		65,589		5,329,762
Wynn Resorts		33,090		6,190,477

				30,700,464

Household Durables–3.94%
D.R.Horton		316,993		6,504,696
Harman International Industries		41,475		4,066,209
Lennar Class A		184,217		7,153,146

				17,724,051

Insurance–0.51%
†Markel		3,580		2,277,417

				2,277,417

Internet & Catalog Retail–4.08%
†NetFlix		12,728		5,742,619
†Priceline Group		6,542		7,579,430
†TripAdvisor		55,441		5,068,416

				18,390,465

Internet Software & Services–9.14%
†Alibaba Group Holding ADR		50,700		4,504,695
†Baidu ADR		15,670		3,419,664
†Facebook Class A		146,158		11,552,328
†Google		23,468		13,549,484
†Google Class A		10,450		6,148,885
†Yelp		29,200		1,992,900

				41,167,956

IT Services–7.63%
†Alliance Data Systems		25,656		6,369,615
†Cognizant Technology Solutions Class A		153,071		6,852,989
†FleetCor Technologies		42,214		5,999,454
MasterCard Class A		124,367		9,193,209
Visa Class A		27,902		5,953,450

				34,368,717

Media–1.34%
Comcast Class A		112,059		6,026,533

				6,026,533

Oil, Gas & Consumable Fuels–2.47%
†Cobalt International Energy		162,870		2,215,032


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Oil, Gas & Consumable Fuels (continued)
†Continental Resources		62,934	$	4,183,852
Pioneer Natural Resources		24,052		4,737,522

				11,136,406

Pharmaceuticals–4.76%
†Actavis		30,925		7,461,584
Bristol-Myers Squibb		181,978		9,313,634
Merck		78,493		4,653,065

				21,428,283

Professional Services–3.68%
Equifax		74,045		5,534,123
†IHS Class A		43,129		5,399,319
Nielsen Holdings		126,800		5,621,044

				16,554,486

Real Estate Investment Trusts–1.07%
American Tower		51,315		4,804,623

				4,804,623

Road & Rail–2.46%
†Hertz Global Holdings		145,675		3,698,688
Hunt (J.B.) Transport Services		31,675		2,345,534
Kansas City Southern		41,628		5,045,314

				11,089,536

Software–7.39%
†Adobe Systems		76,024		5,260,100
Intuit		74,919		6,566,650
Microsoft		249,046		11,545,773
†salesforce.com		110,232		6,341,647


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Software (continued)
†ServiceNow		60,855	$	3,577,057

				33,291,227

Specialty Retail–7.58%
†AutoZone		12,993		6,622,012
Home Depot		145,464		13,344,867
Lowe’s		140,643		7,442,828
Ross Stores		89,251		6,745,591

				34,155,298

Technology Hardware, Storage & Peripherals–5.90%
Apple		263,830		26,580,873

				26,580,873

Textiles, Apparel & Luxury Goods–2.05%
PVH		33,070		4,006,431
Ralph Lauren		31,711		5,223,753

				9,230,184


Total Common Stock (Cost $328,596,373)				448,262,072


MONEY MARKET FUND–0.13%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		597,055		597,055


Total Money Market Fund (Cost $597,055)				597,055

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)
rCOMMON STOCK–98.79%
Australia–6.35%
Federation Centres		1,888,456	$	4,265,869
Goodman Group		1,412,385		6,393,292
†@=GPT Group In-Specie		4,536,115		1
Investa Office Fund		874,413		2,564,734
Mirvac Group		4,568,061		6,879,253
†Scentre Group		1,896,628		5,446,743
Stockland		1,757,917		6,079,619
†Westfield		314,206		2,049,518


				33,679,029

Canada–1.02%
Boardwalk Real Estate Investment Trust		52,600		3,236,273
Canadian Real Estate Investment Trust		50,400		2,183,242


				5,419,515

France–3.91%
ICADE		20,711		1,746,708
Klepierre		142,072		6,221,571
Mercialys		91,500		1,995,379
Unibail-Rodamco		41,753		10,742,774


				20,706,432

Germany–1.30%
†LEG Immobilien		99,648		6,906,234


				6,906,234

nHong Kong–6.24%
Hang Lung Properties		683,500		1,945,350
Hongkong Land Holdings		1,010,000		6,868,000
Link REIT		464,900		2,679,289
New World Development		3,367,400		3,920,397
Sun Hung Kai Properties		938,100		13,301,585
Swire Properties		1,398,600		4,358,889


				33,073,510

Japan–14.55%
GLP J-REIT		2,156		2,490,906
Japan Hotel REIT Investment		1,981		1,206,682
Japan Real Estate Investment		1,094		5,626,371
Japan Retail Fund Investment		3,345		6,740,938
Kenedix Office Investment		580		3,115,123
Mitsubishi Estate		769,800		17,327,783
Mitsui Fudosan		700,400		21,456,190
Nippon Prologis REIT		1,410		3,279,907
Nomura Real Estate Holdings		156,000		2,680,016
NTT Urban Development		198,000		2,083,545
Orix JREIT		1,576		1,981,766
Sumitomo Realty & Development		127,300		4,530,053
Tokyo Tatemono		122,200		988,387
United Urban Investment		2,378		3,649,454


				77,157,121


	Number of Shares		Value (U.S. $)
rCOMMON STOCK (continued)
Luxembourg–0.93%
†GAGFAH		264,037	$	4,919,201


				4,919,201

Netherlands–1.17%
Corio		32,451		1,591,392
Eurocommercial Properties CVA		42,809		1,885,492
Nieuwe Steen Investments		518,110		2,722,407


				6,199,291

Singapore–3.32%
CapitaCommercial Trust		3,251,000		4,064,865
CapitaLand		1,588,500		3,984,792
Global Logistic Properties		3,011,500		6,397,652
Suntec Real Estate Investment Trust		2,281,200		3,147,346


				17,594,655

Sweden–0.99%
Castellum		184,141		2,801,885
Fabege		37,900		482,410
Hufvudstaden Class A		159,392		1,985,746


				5,270,041

Switzerland–0.46%
PSP Swiss Property		29,028		2,438,638


				2,438,638

United Kingdom–7.43%
British Land		748,333		8,522,186
Derwent London		128,735		5,699,387
Great Portland Estates		522,146		5,413,053
Hammerson		651,340		6,066,072
Land Securities Group		656,974		11,065,563
Safestore Holdings		464,240		1,610,520
Unite Group		150,295		1,034,266


				39,411,047

United States–51.12%
American Realty Capital Properties		597,500		7,205,850
AvalonBay Communities		82,965		11,695,576
BioMed Realty Trust		225,400		4,553,080
Boston Properties		69,910		8,092,782
Brandywine Realty Trust		205,800		2,895,606
Brixmor Property Group		119,000		2,648,940
Cousins Properties		216,300		2,584,785
DCT Industrial Trust		429,800		3,227,798
DDR		467,000		7,812,910
Douglas Emmett		224,000		5,750,080
Duke Realty		372,700		6,402,986
Equity Residential		281,050		17,307,059
Essex Property Trust		53,773		9,611,924
General Growth Properties		449,900		10,595,145
Health Care REIT		247,700		15,449,049
Healthcare Realty Trust		158,100		3,743,808
Healthcare Trust of America Class A		228,300		2,648,280


	Number of Shares		Value (U.S. $)
rCOMMON STOCK (continued)
United States (continued)
Highwoods Properties		65,750	$	2,557,675
†Hilton Worldwide Holdings		151,100		3,721,593
Host Hotels & Resorts		718,100		15,317,073
Kilroy Realty		141,600		8,416,704
Kimco Realty		238,430		5,224,001
Lexington Realty Trust		301,700		2,953,643
Liberty Property Trust		119,900		3,987,874
Macerich		101,819		6,499,107
Pebblebrook Hotel Trust		57,600		2,150,784
Post Properties		84,000		4,312,560
Prologis		380,490		14,344,473
Public Storage		38,300		6,351,672
Ramco-Gershenson Properties Trust		132,300		2,149,875
Simon Property Group		125,650		20,659,373
SL Green Realty		108,200		10,962,824
Spirit Realty Capital		486,200		5,333,614
†Strategic Hotels & Resorts		189,500		2,207,675
Sun Communities		63,500		3,206,750
Sunstone Hotel Investors		190,300		2,629,946
Tanger Factory Outlet Centers		48,000		1,570,560
Taubman Centers		49,400		3,606,200
UDR		329,000		8,965,250


	Number of Shares		Value (U.S. $)
rCOMMON STOCK (continued)
United States (continued)
Vornado Realty Trust		116,800	$	11,675,328


				271,030,212

Total Common Stock (Cost $443,990,720)				523,804,926


rWARRANT–0.02%
Hong Kong–0.02%
Sun Hung Kai Properties		46,341		77,465

Total Warrant (Cost $34,358)				77,465

MONEY MARKET FUND–0.91%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		4,827,468		4,827,468

Total Money Market Fund (Cost $4,827,468)				4,827,468

The following foreign currency exchange contracts were outstanding at September 30, 2014:

The use of foreign currency exchange contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing during the period. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014.


	Number of		Value
	Shares		(U.S. $)
COMMON STOCK–87.61%
Airlines–2.91%
Alaska Air Group		82,602	$	3,596,491
American Airlines Group		83,012		2,945,266
†Spirit Airlines		17,889		1,236,845


				7,778,602


Banks–1.64%
†Signature Bank		28,396		3,182,056
Umpqua Holdings		73,235		1,206,180


				4,388,236

Biotechnology–4.22%
†Acadia Pharmaceuticals		38,630		956,479
†Alkermes		36,517		1,565,484
†Alnylam Pharmaceuticals		18,240		1,424,544
†Arrowhead Research		59,508		878,933
†Cubist Pharmaceuticals		19,197		1,273,529
†Incyte		30,471		1,494,603
†Insmed.		60,343		787,476
†Intercept Pharmaceuticals		3,254		770,189
†Pharmacyclics		10,086		1,184,399
†Puma Biotechnology		3,840		916,109


				11,251,745


Building Products–0.82%
Lennox International		28,508		2,191,410


				2,191,410


Capital Markets–1.09%
†Affiliated Managers Group		14,524		2,910,029


				2,910,029


Chemicals–1.70%
†Chemtura		82,008		1,913,247
RPM International		57,030		2,610,833


				4,524,080


Commercial Services & Supplies–0.39%
†Avis Budget Group		18,850		1,034,678


				1,034,678


Communications Equipment–1.95%
†ARRIS Group		119,674		3,393,356
†Palo Alto Networks		18,377		1,802,784


				5,196,140


Consumer Finance–1.46%
†Portfolio Recovery Associates		74,681		3,900,589


				3,900,589


Diversified Telecommunication Services–1.63%
Cogent Communications Group		129,187		4,341,975


				4,341,975


Electrical Equipment–0.86%
Acuity Brands		12,509		1,472,434


	Number of		Value
	Shares		(U.S. $)
COMMON STOCK (continued)
Electrical Equipment (continued)
†Generac Holdings		20,319	$	823,732

				2,296,166


Electronic Equipment, Instruments & Components–3.35%
Belden		32,415		2,075,208
FEI		29,502		2,225,041
FLIR Systems		148,167		4,643,554


				8,943,803


Energy Equipment & Services–0.73%
Oceaneering International		29,928		1,950,408


				1,950,408


Food & Staples Retailing–0.47%
†Fresh Market		35,755		1,248,922


				1,248,922


Food Products–0.88%
†Hain Celestial Group		22,945		2,348,421


				2,348,421


Health Care Equipment & Supplies–3.51%
†Align Technology		47,483		2,453,921
Cooper		10,780		1,678,985
†Cyberonics		27,745		1,419,434
†DexCom		31,975		1,278,680
†IDEXX Laboratories		21,590		2,543,950


				9,374,970


Health Care Providers & Services–4.71%
†Air Methods		49,724		2,762,168
†Catalent		105,531		2,641,441
†ExamWorks Group		45,293		1,483,346
†IPC The Hospitalist		36,711		1,644,286
†LifePoint Hospitals		33,319		2,305,342
†Team Health Holdings		30,067		1,743,585


				12,580,168


Hotels, Restaurants & Leisure–5.45%
Domino’s Pizza		63,794		4,909,586
Dunkin’ Brands Group		88,384		3,961,371
†Fiesta Restaurant Group		34,113		1,694,734
SeaWorld Entertainment		64,210		1,234,758
Six Flags Entertainment		80,146		2,756,221


				14,556,670


Household Durables–1.31%
Harman International Industries		35,560		3,486,302


				3,486,302


Internet & Catalog Retail–3.03%
Expedia		39,374		3,449,950
†TripAdvisor		50,673		4,632,526


				8,082,476


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Internet Software & Services–3.05%
†CoStar Group		43,846	$	6,819,807
†Endurance International Group Holdings		81,020		1,318,195


				8,138,002


IT Services–2.87%
†Acxiom		72,083		1,192,974
†Alliance Data Systems		10,061		2,497,844
†Gartner		20,733		1,523,254
MAXIMUS		61,044		2,449,696


				7,663,768


Life Sciences Tools & Services–0.72%
†Covance		24,408		1,920,910


				1,920,910


Machinery–4.10%
IDEX		39,099		2,829,595
Lincoln Electric Holdings		43,963		3,039,382
†Middleby		57,440		5,062,187


				10,931,164


Media–2.41%
Cinemark Holdings		80,884		2,753,291
MDC Partners Class A		130,287		2,500,208
†Rentrak		19,280		1,174,923


				6,428,422


Metals & Mining–2.84%
Globe Specialty Metals		134,386		2,444,481
US Silica Holdings		82,304		5,144,823


				7,589,304


Multiline Retail–0.47%
†Burlington Stores		31,776		1,266,591


				1,266,591


Oil, Gas & Consumable Fuels–3.77%
†Carrizo Oil & Gas		49,552		2,666,889
†Diamondback Energy		40,113		2,999,650
†Oasis Petroleum		76,368		3,192,946
†Sanchez Energy		46,166		1,212,319


				10,071,804


Personal Products–0.36%
Herbalife		22,171		969,981


				969,981


Pharmaceuticals–4.29%
†Akorn		39,714		1,440,427
†AVANIR Pharmaceuticals		62,820		748,814
†Jazz Pharmaceuticals		25,021		4,017,372
†Pacira Pharmaceuticals		22,490		2,179,731


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Pharmaceuticals (continued)
†Salix Pharmaceuticals		19,700	$	3,077,928


				11,464,272


Professional Services–1.17%
Corporate Executive Board		30,921		1,857,424
†WageWorks		28,008		1,275,204


				3,132,628


Real Estate Investment Trusts–0.69%
Sovran Self Storage		24,899		1,851,490


				1,851,490


Real Estate Management & Development–1.70%
Altisource Residential		118,634		2,847,216
†Howard Hughes		11,343		1,701,450


				4,548,666


Road & Rail–1.16%
†Kirby		10,500		1,237,425
†Swift Transportation		89,030		1,867,849


				3,105,274


Semiconductors & Semiconductor Equipment–2.89%
Skyworks Solutions		27,480		1,595,214
†SunEdison		181,123		3,419,602
†Synaptics		14,253		1,043,320
†TriQuint Semiconductor		87,295		1,664,716


				7,722,852


Software–5.27%
†Aspen Technology		103,111		3,889,347
†Concur Technologies		10,685		1,355,072
†Fortinet		52,013		1,314,108
†Informatica		37,735		1,292,046
†ServiceNow		23,087		1,357,054
†Tableau Software Class A		25,366		1,842,840
†Tyler Technologies		18,547		1,639,555
†Ultimate Software Group		9,733		1,377,317


				14,067,339


Specialty Retail–3.69%
†Cabela’s		34,375		2,024,688
†Five Below		40,977		1,623,099
Foot Locker		23,672		1,317,347
Lithia Motors Class A		24,293		1,838,737
Monro Muffler Brake		24,893		1,208,057
Signet Jewelers		16,085		1,832,242


				9,844,170


Textiles, Apparel & Luxury Goods–0.85%
Hanesbrands		13,294		1,428,307
†Kate Spade		32,010		839,622


				2,267,929


	Number of Shares		Value (U.S. $)
COMMON STOCK (continued)
Trading Companies & Distributors–3.20%
†United Rentals		50,273	$	5,585,330
Watsco		34,158		2,943,736

				8,529,066

Total Common Stock (Cost $221,830,093)				233,899,422


MASTER LIMITED PARTNERSHIP–0.88%
Hi-Crush Partners		23,845		1,229,448
Och-Ziff Capital Management Group		103,340		1,106,771

Total Master Limited Partnership (Cost $2,834,448)				2,336,219

« Includes $3,629,400 cash pledged as collateral for futures contracts as of September 30, 2014.

The use of futures contracts involves elements of market risk and risks in excess of the amount recognized in the financial statements. The notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Principal Amount°		Value (U.S. $)

AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–1.53%
Fannie Mae REMIC Trust
Series 2004-W11 1A2 6.50% 5/25/44		196,335	$	226,963
Fannie Mae REMICs
Series 1996-46 ZA 7.50% 11/25/26		71,706		81,396
Series 2002-83 GH 5.00% 12/25/17		2,327,074		2,443,958
Series 2003-38 MP 5.50% 5/25/23		2,711,905		2,957,267
Series 2003-78 B 5.00% 8/25/23		51,792		56,349
Series 2003-106 WE 4.50% 11/25/22		2,033		2,053
Series 2005-110 MB 5.50% 9/25/35		715,870		774,276
Series 2007-40 PT 5.50% 5/25/37		248,731		271,332
Series 2010-41 PN 4.50% 4/25/40		120,000		128,829
Series 2011-113 CP 5.00% 9/25/39		23,948		25,215
Series 2012-19 HB 4.00% 1/25/42		28,520		29,610
•*Series 2012-122 SD 5.946% 11/25/42		6,108,574		1,356,710
*Series 2013-20 IH 3.00% 3/25/33		1,767,723		288,025
*Series 2013-31 MI 3.00% 4/25/33		19,247,476		3,119,835
Series 2013-34 GP 3.00% 5/25/42		54,617,057		54,911,334
*Series 2013-44 DI 3.00% 5/25/33		26,072,139		4,324,601
Freddie Mac REMICs
Series 1730 Z 7.00% 5/15/24		66,449		75,456
Series 2326 ZQ 6.50% 6/15/31		353,426		400,430
Series 2512 PG 5.50% 10/15/22		75,906		82,992
Series 2557 WE 5.00% 1/15/18		1,927,202		2,025,247
Series 2708 ZD 5.50% 11/15/33		426,664		473,653
Series 2717 MH 4.50% 12/15/18		686,870		722,641
Series 2762 LG 5.00% 9/15/32		156		156
Series 3123 HT 5.00% 3/15/26		252,280		269,830
Series 3290 PE 5.50% 3/15/37		34,342		37,757
Series 3416 GK 4.00% 7/15/22		197,323		200,260
Series 3455 MB 4.50% 6/15/23		6,196,929		6,604,061
Series 3574 D 5.00% 9/15/39		9,927		10,816
Series 3656 PM 5.00% 4/15/40		7,993,000		8,790,757


	Principal Amount°		Value (U.S. $)

AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
•Series 3800 AF 0.654% 2/15/41		626,576	$	631,869
*Series 4185 LI 3.00% 3/15/33		6,161,981		1,036,154
*Series 4191 CI 3.00% 4/15/33		2,667,179		442,908
•Freddie Mac Structured Agency Credit Risk Debt Notes Series 2014-DN2 M2 1.805% 4/25/24		1,755,000		1,704,503
Freddie Mac Structured Pass Through Securities
¿Series T-58 2A 6.50% 9/25/43		671,591		760,701
•¿Series T-60 1A4C 4.722% 3/25/44		277,162		278,763
GNMA
Series 2010-42 PC 5.00% 7/20/39		1,468,000		1,595,397
Series 2010-113 KE 4.50% 9/20/40		7,175,000		7,744,968


Total Agency Collateralized Mortgage Obligations (Cost $103,822,846)				104,887,072


AGENCY MORTGAGE-BACKED SECURITIES–26.73%
Fannie Mae 6.50% 8/1/17		122,163		127,182
Fannie Mae ARM
•2.301% 4/1/36		459,753		490,246
•2.325% 8/1/36		427		432
•2.344% 11/1/35		413,030		442,896
•2.42% 5/1/43		3,745,579		3,724,213
•2.546% 6/1/43		1,298,039		1,299,019
•3.018% 4/1/44		2,601,722		2,667,823
•3.199% 4/1/44		6,474,934		6,673,653
•3.279% 3/1/44		5,762,190		5,976,314
•3.292% 9/1/43		4,550,960		4,693,955
Fannie Mae Pool 5.50% 2/1/35		26,790		30,028
Fannie Mae Pool S.F. 15 yr 4.50% 10/1/20		111,086		118,052
Fannie Mae Pool S.F. 20 yr 5.00% 7/1/23		24,982		27,685
Fannie Mae Relocation 15 yr 4.00% 9/1/20		285,869		301,069
Fannie Mae Relocation 30 yr
5.00% 11/1/33		47,174		51,547
5.00% 1/1/34		127,523		139,387
5.00% 11/1/34		17,859		19,521
5.00% 10/1/35		216,728		236,670
5.00% 1/1/36		29,683		32,433
5.00% 2/1/36		269,611		294,209
Fannie Mae S.F. 15 yr
2.50% 7/1/27		613,495		620,656
2.50% 10/1/27		3,910,321		3,955,973
2.50% 2/1/28		8,163,810		8,259,117
2.50% 5/1/28		1,252,519		1,267,146
3.00% 12/1/25		111,905		115,491


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 15 yr (continued)
3.00% 11/1/26		161,344	$	166,747
3.00% 2/1/27		756,581		781,940
3.00% 3/1/27		421,253		435,372
3.00% 4/1/27		1,039,090		1,073,917
3.00% 6/1/27		1,186,396		1,226,171
3.00% 11/1/27		680,243		703,052
3.00% 5/1/28		655,127		677,591
3.00% 7/1/28		14,556,826		15,041,235
3.00% 9/25/42		28,461,242		29,414,401
3.50% 1/1/26		571,739		602,309
3.50% 7/1/26		2,611,993		2,752,728
3.50% 7/1/27		539,176		568,299
3.50% 12/1/28		1,841,657		1,947,115
4.00% 3/1/24		254,323		271,317
4.00% 5/1/24		1,110,803		1,185,124
4.00% 7/1/24		102,961		109,885
4.00% 11/1/24		19,837		21,194
4.00% 2/1/25		763,114		814,114
4.00% 5/1/25		2,228,113		2,377,841
4.00% 6/1/25		7,974,817		8,509,728
4.00% 7/1/25		159,720		170,453
4.00% 9/1/25		245,557		262,064
4.00% 11/1/25		4,403,264		4,702,154
4.00% 1/1/26		433,426		461,578
4.00% 3/1/26		5,460,760		5,830,899
4.00% 12/1/26		3,829,423		4,086,939
4.00% 1/1/27		252,482		269,518
4.00% 4/1/27		699,266		746,611
4.00% 5/1/27		7,830,005		8,354,541
4.00% 8/1/27		4,628,766		4,941,746
4.50% 4/1/18		323,569		341,785
4.50% 9/1/18		8,584		9,069
4.50% 3/1/19		14,478		15,314
4.50% 4/1/20		6,480		6,863
4.50% 5/1/20		91,454		97,100
4.50% 7/1/20		36,745		38,914
4.50% 8/1/20		123,230		131,013
4.50% 2/1/24		98,243		105,548
4.50% 9/1/24		216,502		234,183
4.50% 10/1/24		950,764		1,014,639
4.50% 12/1/24		303,106		323,713
4.50% 2/1/25		364,246		388,669
4.50% 4/1/25		1,828,328		1,931,341
4.50% 7/1/25		388,735		414,747
5.00% 6/1/19		50,681		53,622
5.00% 12/1/20		477,120		508,758
5.00% 2/1/21		1,666		1,761
5.00% 5/1/21		31,721		33,820
5.00% 12/1/21		23,913		25,489
5.00% 6/1/23		867,717		938,759
5.00% 9/1/25		1,831,925		1,990,671
5.50% 1/1/21		1,636		1,789


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 15 yr (continued)
5.50% 10/1/21		7,648	$	8,394
6.00% 12/1/17		3,085		3,209
6.00% 8/1/21		1,300,114		1,414,308
Fannie Mae S.F.15 yr TBA
2.50% 10/1/29		55,811,000		56,124,937
2.50% 11/1/29		47,010,000		47,162,416
3.00% 10/1/29		39,761,000		40,953,830
Fannie Mae S.F. 20 yr
3.00% 2/1/33		694,442		707,735
3.00% 8/1/33		3,342,267		3,393,829
3.50% 11/1/31		883,685		922,052
3.50% 4/1/33		725,079		756,199
3.50% 9/1/33		4,902,332		5,112,756
4.00% 12/1/30		1,518,603		1,623,430
4.00% 1/1/31		778,392		832,155
4.00% 2/1/31		2,864,683		3,062,238
4.50% 9/1/23		25,851		27,907
4.50% 4/1/24		7,952		8,585
5.00% 11/1/23		200,735		221,400
5.00% 12/1/23		20,843		22,989
5.00% 7/1/27		99,110		109,314
5.00% 3/1/28		21,563		23,783
5.50% 7/1/23		118,177		131,507
5.50% 10/1/23		130,865		145,631
5.50% 2/1/24		287,722		321,212
5.50% 7/1/24		210,063		234,527
5.50% 12/1/24		37,665		42,050
5.50% 2/1/25		42,664		47,635
5.50% 7/1/25		121,819		137,290
5.50% 11/1/25		264,800		295,675
5.50% 10/1/28		326,578		364,853
5.50% 12/1/29		246,013		274,763
6.00% 10/1/21		9,252		10,497
6.00% 12/1/21		273,977		309,328
6.00% 10/1/22		234,767		265,073
6.00% 9/1/29		2,163,253		2,445,358
6.50% 10/1/18		4,948		5,600
6.50% 2/1/19		9,232		10,450
6.50% 10/1/24		11,865		13,430
6.50% 10/1/27		63,751		72,163
Fannie Mae S.F. 30 yr
3.00% 7/1/42		3,261,553		3,223,933
3.00% 10/1/42		51,606,278		51,003,080
3.00% 12/1/42		12,203,765		12,068,458
3.00% 1/1/43		20,771,802		20,521,190
3.00% 2/1/43		2,241,029		2,214,014
3.00% 4/1/43		14,532,970		14,352,959
3.00% 5/1/43		57,860,843		57,143,978
3.50% 7/1/42		4,152		4,252
3.50% 3/1/43		913,440		937,958
4.00% 6/1/43		621,165		656,931
4.00% 7/1/43		1,193,140		1,262,257


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
4.00% 8/1/43		1,688,163	$	1,785,893
4.00% 9/1/43		1,137,000		1,202,912
4.50% 7/1/36		890,119		960,906
4.50% 11/1/40		2,839,893		3,071,831
4.50% 3/1/41		5,715,466		6,181,670
4.50% 4/1/41		9,178,905		9,929,658
4.50% 5/1/41		107,329		116,529
4.50% 10/1/41		3,102,292		3,355,814
4.50% 11/1/41		2,707,396		2,928,853
4.50% 12/1/43		498,042		539,160
4.50% 2/1/44		1,310,236		1,416,510
4.50% 5/1/44		2,102,165		2,275,910
5.00% 4/1/34		38,910		43,315
5.00% 2/1/35		5,296,594		5,858,609
5.00% 4/1/35		120,235		132,955
5.00% 5/1/35		9,553		10,567
5.00% 6/1/35		43,116		47,682
5.00% 7/1/35		2,370,944		2,621,507
5.00% 8/1/35		5,130		5,668
5.00% 10/1/35		3,704,454		4,095,889
5.00% 11/1/35		2,034,466		2,250,063
5.00% 1/1/36		3,572		3,946
5.00% 2/1/36		4,189,730		4,632,444
5.00% 6/1/36		13,193		14,583
5.00% 12/1/36		5,757		6,364
5.00% 4/1/37		1,011,730		1,117,914
5.00% 8/1/37		327,764		362,371
5.00% 2/1/38		1,054,985		1,166,688
5.00% 1/1/39		35,433		39,081
5.00% 6/1/39		3,493		3,862
5.00% 11/1/40		93,733		103,383
5.50% 11/1/29		352,923		393,924
5.50% 12/1/32		224,503		251,968
5.50% 3/1/33		9,267		10,312
5.50% 4/1/33		280,596		313,105
5.50% 7/1/33		197,007		220,285
5.50% 10/1/33		35,360		39,978
5.50% 11/1/33		8,814		9,899
5.50% 1/1/34		1,010,243		1,134,384
5.50% 3/1/34		69,059		77,425
5.50% 4/1/34		1,050,479		1,178,942
5.50% 8/1/34		762,521		854,945
5.50% 11/1/34		780,077		874,725
5.50% 12/1/34		79,032		88,590
5.50% 1/1/35		675,998		757,602
5.50% 2/1/35		902,379		1,013,211
5.50% 3/1/35		696,881		780,419
5.50% 5/1/35		7,700,926		8,628,229
5.50% 6/1/35		968,108		1,081,024
5.50% 7/1/35		36,612		40,988
5.50% 9/1/35		22,286		24,959
5.50% 10/1/35		245,188		273,417


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
5.50% 11/1/35		423,105	$	473,958
5.50% 12/1/35		737,474		826,635
5.50% 1/1/36		1,478,830		1,655,787
5.50% 3/1/36		24,850		27,789
5.50% 4/1/36		101,201		112,917
5.50% 5/1/36		1,220,645		1,366,444
5.50% 7/1/36		1,645,939		1,844,407
5.50% 9/1/36		59,015		66,194
5.50% 10/1/36		8,695		9,675
5.50% 11/1/36		7,299		8,167
5.50% 12/1/36		18,239		20,298
5.50% 1/1/37		141,774		158,896
5.50% 2/1/37		5,033,192		5,608,019
5.50% 4/1/37		1,108,698		1,244,587
5.50% 5/1/37		17,078		19,008
5.50% 7/1/37		14,545		16,184
5.50% 8/1/37		12,064,094		13,520,309
5.50% 11/1/37		1,227,341		1,377,310
5.50% 1/1/38		2,994,312		3,331,814
5.50% 2/1/38		3,171,830		3,543,512
5.50% 3/1/38		2,624,836		2,921,462
5.50% 4/1/38		8,738,331		9,723,077
5.50% 6/1/38		735,418		818,347
5.50% 7/1/38		7,109,321		7,910,490
5.50% 8/1/38		26,255		29,214
5.50% 9/1/38		340,856		381,532
5.50% 10/1/38		14,152		15,765
5.50% 11/1/38		456,649		511,839
5.50% 12/1/38		1,442,879		1,614,137
5.50% 4/1/39		309,835		344,752
5.50% 10/1/39		10,328,847		11,492,833
5.50% 11/1/39		66,989		74,538
5.50% 12/1/39		7,281		8,102
5.50% 3/1/40		10,098		11,314
5.50% 5/1/40		727,860		809,884
5.50% 7/1/40		3,067,771		3,413,507
5.50% 9/1/41		4,024,297		4,497,332
6.00% 4/1/32		15,898		18,184
6.00% 8/1/34		357,979		407,369
6.00% 11/1/34		19,466		22,158
6.00% 7/1/35		74,966		84,985
6.00% 9/1/35		31,087		35,102
6.00% 11/1/35		3,860		4,401
6.00% 12/1/35		605,122		687,707
6.00% 1/1/36		273,927		311,185
6.00% 5/1/36		576,082		653,139
6.00% 6/1/36		596,213		676,392
6.00% 9/7/36		97,333		110,264
6.00% 12/1/36		461,237		524,755
6.00% 2/1/37		1,285,465		1,457,535
6.00% 5/1/37		3,568,781		4,029,252
6.00% 6/1/37		232,316		265,703


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
6.00% 7/1/37		257,712	$	292,273
6.00% 8/1/37		3,093,788		3,506,197
6.00% 9/1/37		1,031,486		1,166,746
6.00% 10/1/37		671,384		759,268
6.00% 11/1/37		615,392		702,405
6.00% 1/1/38		1,701,955		1,921,554
6.00% 3/1/38		9,691		11,089
6.00% 5/1/38		6,367,362		7,202,367
6.00% 6/1/38		216,710		246,721
6.00% 7/1/38		220,089		248,486
6.00% 9/1/38		1,196,963		1,352,958
6.00% 10/1/38		5,035,530		5,687,754
6.00% 11/1/38		1,066,748		1,212,675
6.00% 1/1/39		2,255,471		2,547,730
6.00% 4/1/39		9,031		10,336
6.00% 9/1/39		18,517,606		20,932,736
6.00% 10/1/39		448,648		512,231
6.00% 2/1/40		459,939		519,283
6.00% 3/1/40		2,073,398		2,343,100
6.00% 4/1/40		1,030,681		1,164,773
6.00% 9/1/40		1,609,134		1,822,015
6.00% 11/1/40		664,847		760,904
6.00% 5/1/41		2,542,136		2,878,101
6.00% 7/1/41		536,992		614,188
6.50% 3/1/32		188		214
6.50% 8/1/34		5,293		6,024
6.50% 1/1/36		40,196		45,499
6.50% 2/1/36		26,592		30,100
6.50% 6/1/36		836,778		964,507
6.50% 8/1/36		71,902		81,389
6.50% 9/1/36		5,816		6,584
6.50% 10/1/36		644,386		729,406
6.50% 11/1/36		1,293		1,463
6.50% 3/1/37		8,136		9,323
6.50% 8/1/37		207,598		234,989
6.50% 11/1/37		1,807		2,089
6.50% 1/1/38		1,314		1,487
6.50% 6/1/39		7,164		8,109
7.00% 12/1/37		78,151		83,503
7.50% 4/1/31		76,289		86,702
7.50% 4/1/32		7,622		8,878
7.50% 9/1/32		422		492
Fannie Mae S.F. 30 yr TBA
3.00% 11/1/44		212,981,000		209,361,984
3.50% 11/1/44		80,208,000		81,743,237
4.00% 10/1/44		79,376,000		83,647,421
4.00% 11/1/44		266,210,000		279,703,519
4.50% 11/1/44		309,518,000		333,082,472
5.00% 11/1/44		14,028,000		15,445,102
Freddie Mac ARM
•2.338% 4/1/34		82,524		87,834


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac ARM (continued)
•2.526% 1/1/44		12,408,516	$	12,650,762
Freddie Mac Relocation 30 yr
5.00% 9/1/33		199,512		218,128
Freddie Mac S.F. 15 yr
3.00% 5/1/28		10,173,455		10,505,200
4.00% 12/1/20		30,121		31,881
4.00% 4/1/25		459,909		490,906
4.00% 5/1/25		6,290,867		6,659,990
4.00% 8/1/25		52,204		55,745
4.00% 4/1/26		203,281		216,924
4.00% 9/1/26		1,648,761		1,759,026
4.00% 11/1/26		901,275		958,091
4.50% 7/1/25		699,552		749,125
4.50% 6/1/26		1,630,710		1,741,504
5.00% 6/1/18		261,838		276,441
5.50% 6/1/21		12,722		13,889
6.00% 4/1/17		799		827
6.00% 8/1/17		2,707		2,848
6.50% 8/1/16		372		383
Freddie Mac S.F. 20 yr
3.50% 1/1/34		790,572		822,156
3.50% 3/1/34		44,705		46,422
4.00% 11/1/32		1,363,599		1,455,677
5.00% 10/1/23		1,583		1,742
5.00% 9/1/25		2,027,095		2,230,755
5.50% 1/1/23		3,795		4,212
5.50% 2/1/24		256,653		285,541
5.50% 7/1/26		110,041		122,745
5.50% 3/1/27		244,607		273,033
5.50% 9/1/27		392,745		438,272
5.50% 10/1/27		150,279		167,555
Freddie Mac S.F. 30 yr
3.00% 10/1/42		3,805,035		3,775,014
3.00% 11/1/42		2,912,302		2,898,355
3.50% 11/1/41		385,898		395,711
4.50% 10/1/39		1,504,442		1,623,315
4.50% 3/1/42		12,600,257		13,602,753
5.50% 4/1/33		14,320		16,039
5.50% 3/1/34		450,968		505,342
5.50% 12/1/34		449,901		505,898
5.50% 1/1/35		3,230		3,619
5.50% 11/1/35		180,889		200,765
5.50% 6/1/36		290,380		324,029
5.50% 11/1/36		702,284		783,135
5.50% 12/1/36		357,605		398,309
5.50% 1/1/37		451,599		503,418
5.50% 4/1/38		5,647,792		6,290,443
5.50% 6/1/38		400,360		445,919
5.50% 4/1/39		283,249		315,169
5.50% 2/1/40		2,942,166		3,273,343
5.50% 3/1/40		1,596,926		1,778,648


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac S.F. 30 yr (continued)
5.50% 5/1/40		520,392	$	579,488
5.50% 8/1/40		14,928,439		16,612,707
5.50% 1/1/41		1,821,774		2,027,775
5.50% 6/1/41		13,187,455		14,677,346
6.00% 6/1/34		229,274		261,887
6.00% 2/1/36		1,403,981		1,599,864
6.00% 10/1/36		2,433		2,780
6.00% 1/1/38		692,102		779,514
6.00% 6/1/38		1,826,210		2,059,020
6.00% 7/1/38		17,155		19,329
6.00% 8/1/38		4,550,188		5,198,558
6.00% 5/1/40		773,630		872,415
6.50% 8/1/36		276		312
6.50% 6/1/37		6,769		7,775
6.50% 9/1/38		799		903
6.50% 4/1/39		2,936,037		3,319,793
7.00% 11/1/33		48,990		56,883
GNMA I S.F. 30 yr
5.00% 6/15/40		940,271		1,034,897
7.00% 12/15/34		1,231,092		1,446,447
7.50% 12/15/31		6,419		7,651
7.50% 7/15/32		23,202		26,674
GNMA II S.F. 15 yr 3.50% 5/20/27		502,709		530,983


Total Agency Mortgage-Backed Securities (Cost $1,826,215,935)				1,837,845,641


AGENCY OBLIGATIONS–0.66%
Fannie Mae 2.625% 9/6/24		6,405,000		6,314,113
Federal Home Loan Banks
0.25% 10/2/15		31,000,000		31,011,873
Tennessee Valley Authority
2.875% 9/15/24		7,955,000		7,912,218


Total Agency Obligations (Cost $45,217,199)				45,238,204


COMMERCIAL MORTGAGE-BACKED SECURITIES–4.11%
Banc of America Commercial Mortgage Trust
Series 2006-4 A4 5.634% 7/10/46		3,745,457		3,961,038
•Series 2007-4 AM 6.015% 2/10/51		6,355,000		6,998,094
CD Commercial Mortgage Trust
•Series 2005-CD1 AM 5.40% 7/15/44		3,400,000		3,525,909
•Series 2005-CD1 C 5.40% 7/15/44		3,885,000		3,993,399
Citigroup Commercial Mortgage Trust Series 2014-GC23 AS 3.863% 7/10/47		2,725,000		2,773,102


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
¿Commercial Mortgage Pass-Through Certificates
Series 2014-LC17 A5 3.917% 10/10/47		7,150,000	$	7,432,648
Commercial Mortgage Trust
Series 2014-CR19 A5 3.796% 8/10/47		6,835,000		6,983,449
•Credit Suisse Mortgage Capital Certificates Series 2006-C1 AAB 5.642% 2/15/39		226,351		228,033
DB-UBS Mortgage Trust
#Series 2011-LC1A A3 144A 5.002% 11/10/46		13,406,000		14,968,228
#•Series 2011-LC1A C 144A 5.73% 11/10/46		7,500,000		8,360,520
FREMF Mortgage Trust
#•Series 2011-K10 144A 4.774% 11/25/49		9,155,000		9,749,132
#•Series 2011-K15 B 144A 5.099% 8/25/44		3,890,000		4,208,832
#•Series 2011-K702 B 144A 4.936% 4/25/44		1,640,000		1,744,475
#•Series 2012-K19 B 144A 4.176% 5/25/45		1,245,000		1,277,227
#•Series 2012-K708 B 144A 3.891% 2/25/45		13,690,000		14,080,275
#•Series 2013-K26 144A 3.723% 12/25/45		4,900,000		4,820,282
#•Series 2013-K33 B 144A 3.619% 8/25/46		4,025,000		3,927,297
#•Series 2013-K712 144A 3.484% 5/25/45		19,035,000		19,053,559
#•Series 2013-K713 144A 3.274% 4/25/46		10,080,000		9,960,240
#•Series 2014-K716 B 144A 3.954% 8/25/47		3,320,000		3,370,003
Goldman Sachs Mortgage Securities II
Series 2005-GG4 A4A 4.751% 7/10/39		9,833,420		9,909,157
•Series 2006-GG6 A4 5.553% 4/10/38		3,547,000		3,695,974
#Series 2010-C1 A2 144A 4.592% 8/10/43		8,565,000		9,356,457
#•Series 2010-C1 C 144A 5.635% 8/10/43		3,460,000		3,756,730
#Grace Mortgage Trust Series 2014-GRCE A 144A 3.369% 6/10/28		10,030,000		10,282,947
•Greenwich Capital Commercial Funding Series 2005-GG5 A5 5.224% 4/10/37		4,900,000		5,018,119


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Hilton USA Trust
#Series 2013-HLT AFX 144A 2.662% 11/5/30		11,118,000	$	11,156,513
#Series 2013-HLT BFX 144A 3.367% 11/5/30		12,985,000		13,193,513
JPMBB Commercial Mortgage Securities Trust
Series 2014-C18 A1 1.254% 2/15/47		4,184,142		4,161,326
Series 2014-C21 AS 3.997% 8/15/47		2,580,000		2,630,163
Series 2014-C22 A4 3.801% 9/15/47		8,460,000		8,679,639
•Series 2014-C22 B 4.714% 9/15/47		5,505,000		5,716,315
JPMorgan Chase Commercial Mortgage Securities Trust
•Series 2005-CB11 E 5.647% 8/12/37		1,895,000		2,025,927
•Series 2005-LDP5 D 5.559% 12/15/44		3,600,000		3,713,972
Series 2006-LDP8 AM 5.44% 5/15/45		11,962,000		12,815,441
#•Series 2011-C5 B 144A 5.50% 8/15/46		2,500,000		2,795,378
#Series 2012-LC9 AS 144A 3.353% 12/15/47		2,470,000		2,450,709
Lehman Brothers-UBS Commercial Mortgage Trust
Series 2004-C1 A4 4.568% 1/15/31		249,982		256,656
•Series 2005-C3 B 4.895% 7/15/40		1,835,000		1,863,531
•Series 2006-C6 AJ 5.452% 9/15/39		6,040,000		6,383,779
Series 2006-C6 AM 5.413% 9/15/39		2,640,000		2,839,420
Morgan Stanley Bank of America Merrill Lynch Trust
Series 2014-C18 A4 3.923% 10/15/47		4,905,000		5,076,675
Morgan Stanley Capital I Trust
•Series 2005-HQ7 AJ 5.38% 11/14/42		4,770,000		4,922,564
Series 2005-IQ9 A5 4.70% 7/15/56		2,769,965		2,772,785
•Series 2006-T21 AM 5.204% 10/12/52		4,760,000		4,974,771
#Timberstar Trust Series 2006-1A A 144A 5.668% 10/15/36		3,716,000		3,992,649
#VNO Mortgage Trust Series 2012-6AVE A 144A 2.996% 11/15/30		2,395,000		2,354,833


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
WF-RBS Commercial Mortgage Trust Series 2014-C23 A5 3.917% 10/15/57		4,275,000	$	4,403,036


Total Commercial Mortgage-Backed Securities (Cost $281,388,558)				282,614,721


CORPORATE BONDS–40.47%
Air Freight & Logistics–0.20%
#Aviation Capital Group 144A 6.75% 4/6/21		5,665,000		6,458,100
United Parcel Service 5.125% 4/1/19		6,265,000		7,057,936


				13,516,036


Airlines–0.18%
¿American Airlines 2014-1 Class A Pass Through Trust 3.70% 10/1/26		3,360,000		3,372,600
¿United Airlines 2014-1 Class A Pass Through Trust 4.00% 4/11/26		2,650,000		2,663,250
¿United Airlines 2014-2 Class A Pass Through Trust 3.75% 9/3/26		6,320,000		6,399,000


				12,434,850


Auto Components–0.59%
Delphi 4.15% 3/15/24		8,476,000		8,663,142
Magna International 3.625% 6/15/24		14,785,000		14,721,232
#TRW Automotive 144A 4.45% 12/1/23		16,660,000		16,868,250


				40,252,624


Automobiles–0.12%
General Motors 3.50% 10/2/18		5,480,000		5,596,450
#Hyundai Capital America 144A 2.55% 2/6/19		2,470,000		2,491,981


				8,088,431


Beverages–0.20%
#Pernod-Ricard 144A 5.75% 4/7/21		11,993,000		13,677,201


				13,677,201


Biotechnology–0.55%
Amgen 3.625% 5/22/24		6,085,000		6,041,857
Celgene
3.25% 8/15/22		15,170,000		15,093,725
3.95% 10/15/20		5,845,000		6,200,242
Gilead Sciences 3.70% 4/1/24		10,115,000		10,352,015


				37,687,839


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Capital Markets–0.54%
Jefferies Group
5.125% 1/20/23		7,770,000	$	8,272,703
6.45% 6/8/27		2,021,000		2,274,474
6.50% 1/20/43		1,560,000		1,729,627
Lazard Group
4.25% 11/14/20		8,100,000		8,479,283
6.85% 6/15/17		7,870,000		8,872,780
State Street 3.10% 5/15/23		7,760,000		7,540,330


				37,169,197

Chemicals–2.23%
Braskem Finance 6.45% 2/3/24		4,650,000		4,847,625
Celanese US Holdings 4.625% 11/15/22		6,385,000		6,289,225
CF Industries
5.15% 3/15/34		7,000,000		7,399,280
5.375% 3/15/44		7,740,000		8,130,359
6.875% 5/1/18		15,842,000		18,362,351
Dow Chemical
3.50% 10/1/24		5,025,000		4,911,601
4.25% 10/1/34		10,605,000		10,244,960
8.55% 5/15/19		18,837,000		23,698,378
Eastman Chemical 4.65% 10/15/44		2,575,000		2,462,923
Monsanto 4.40% 7/15/44		29,615,000		29,470,538
Mosaic 5.625% 11/15/43		19,195,000		21,503,871
OCP
#144A 5.625% 4/25/24		4,550,000		4,744,285
#144A 6.875% 4/25/44		3,640,000		3,941,028
#Phosagro 144A 4.204% 2/13/18		4,513,000		4,377,610
Rockwood Specialties Group 4.625% 10/15/20		2,870,000		2,974,038


				153,358,072

Commercial Banks–5.09%
Abbey National Treasury Services 2.35% 9/10/19		1,590,000		1,571,473
#Banco de Costa Rica 144A 5.25% 8/12/18		2,550,000		2,607,375
#•Banco Santander Mexico 144A 5.95% 1/30/24		3,300,000		3,489,750
BanColombia 5.95% 6/3/21		2,270,000		2,502,675
Barclays Bank
2.75% 2/23/15		9,792,000		9,880,784
4.375% 9/11/24		2,475,000		2,402,557
7.625% 11/21/22		5,120,000		5,511,680
BB&T 5.25% 11/1/19		19,960,000		22,424,501
#•BBVA Banco Continental 144A 5.25% 9/22/29		2,890,000		2,911,386
#BBVA Bancomer 144A 7.25% 4/22/20		5,775,000		6,566,175


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
Branch Banking & Trust
•0.554% 9/13/16		9,948,000	$	9,935,018
3.80% 10/30/26		11,915,000		11,888,453
City National 5.25% 9/15/20		5,562,000		6,194,016
Credit Suisse 3.625% 9/9/24		2,455,000		2,425,128
#144A 6.50% 8/8/23		7,495,000		8,169,925
Export-Import Bank of China
#144A 2.50% 7/31/19		4,870,000		4,826,574
#144A 3.625% 7/31/24		5,030,000		4,969,172
#HBOS 144A 6.75% 5/21/18		8,268,000		9,367,644
HSBC Holdings
•5.625% 12/29/49		4,570,000		4,543,723
•6.375% 12/29/49		11,670,000		11,670,000
#ING Bank 144A 5.80% 9/25/23		11,965,000		13,202,947
JPMorgan Chase 3.875% 9/10/24		9,030,000		8,863,333
KeyBank 6.95% 2/1/28		9,418,000		12,070,504
#Magyar Export-Import Bank Zrt 144A 4.00% 1/30/20		1,915,000		1,903,989
Morgan Stanley 4.35% 9/8/26		26,795,000		26,395,219
•National City Bank 0.603% 6/7/17		5,705,000		5,686,773
Northern Trust 3.95% 10/30/25		4,070,000		4,222,540
#•Oversea-Chinese Banking 144A 4.00% 10/15/24		7,505,000		7,590,054
PNC Bank 6.875% 4/1/18		10,370,000		12,021,267
PNC Funding 5.625% 2/1/17		78,000		85,077
#•PNC Preferred Funding Trust II 144A 1.457% 3/31/49		11,400,000		11,072,250
Rabobank 4.625% 12/1/23		19,520,000		20,260,686
Santander Holdings USA 3.45% 8/27/18		14,065,000		14,677,657
#Santander UK 144A 5.00% 11/7/23		14,450,000		15,188,019
•SunTrust Bank 0.525% 8/24/15		3,810,000		3,807,333
SVB Financial Group 5.375% 9/15/20		1,330,000		1,491,624
#Turkiye Garanti Bankasi As 144A 4.75% 10/17/19		4,352,000		4,356,352
U.S. Bank 4.95% 10/30/14		2,110,000		2,117,381
US Bancorp 3.60% 9/11/24		10,185,000		10,085,900
•USB Capital IX 3.50% 10/29/49		21,538,000		18,414,990
•Wells Fargo 5.90% 12/29/49		5,485,000		5,601,556
Woori Bank
#144A 2.875% 10/2/18		3,590,000		3,662,066
#144A 4.75% 4/30/24		4,750,000		4,813,536
Zions Bancorp 4.50% 6/13/23		8,370,000		8,779,209


				350,228,271


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Services & Supplies–0.16%
Brambles USA
#144A 3.95% 4/1/15		2,880,000	$	2,925,207
#144A 5.35% 4/1/20		7,160,000		8,037,028


				10,962,235

Computers & Peripherals–0.26%
NetApp 3.25% 12/15/22		6,120,000		5,980,440
#Seagate HDD Cayman 144A 4.75% 1/1/25		11,935,000		11,935,000


				17,915,440

Construction & Engineering–0.20%
#OAS Finance 144A 8.00% 7/2/21		2,380,000		2,290,750
#OAS Investments GMBH 144A 8.25% 10/19/19		1,700,000		1,672,307
#Odebrecht Offshore Drilling Finance 144A 6.625% 10/1/22		4,817,054		4,985,650
URS
3.85% 4/1/17		1,125,000		1,161,815
5.00% 4/1/22		3,655,000		3,710,015


				13,820,537

Construction Materials–0.30%
Cemex
#144A 5.875% 3/25/19		1,770,000		1,783,275
#144A 9.50% 6/15/18		2,835,000		3,170,806
Cemex SAB de CV
#144A 5.70% 1/11/25		1,730,000		1,671,180
#144A 7.25% 1/15/21		2,910,000		3,084,600
#Tenedora Nemak 144A 5.50% 2/28/23		5,870,000		6,046,100
#Votorantim Cimentos 144A 7.25% 4/5/41		5,050,000		5,239,375


				20,995,336

Consumer Finance–0.84%
Ford Motor Credit 5.875% 8/2/21		16,825,000		19,373,449
#Hyundai Capital America 144A 2.125% 10/2/17		4,480,000		4,537,537
SunTrust Banks 2.35% 11/1/18		3,990,000		4,003,430
Wells Fargo 4.10% 6/3/26		29,860,000		29,796,100


				57,710,516

Containers & Packaging–0.17%
Rock Tenn
3.50% 3/1/20		7,775,000		7,914,445
4.00% 3/1/23		3,670,000		3,732,008


				11,646,453

Diversified Consumer Services–0.06%
#ENA Norte Trust 144A 4.95% 4/25/23		2,063,834		2,135,924


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Consumer Services (continued)
#Red de Carreteras de Occidente SAPIB de CV 144A 9.00% 6/10/28	MXN	30,000,000	$	2,150,461


				4,286,385

Diversified Financial Services–2.75%
Bank of America
4.20% 8/26/24		28,030,000		27,821,064
•6.25% 9/29/49		15,630,000		15,605,570
#Capital Fund Propriety 144A 3.903% 6/24/20		2,114,000		2,106,073
Corp Financiera De Desarrollo
#144A 3.25% 7/15/19		1,350,000		1,350,000
#•144A 5.25% 7/15/29		2,085,000		2,118,881
Credit Suisse Group
#•144A 6.25% 12/29/49		3,375,000		3,275,437
#•144A 7.50% 12/11/49		4,595,000		4,836,237
#ERAC USA Finance 144A 5.25% 10/1/20		12,456,000		14,059,012
Ford Motor Credit 3.664% 9/8/24		4,100,000		4,023,264
General Electric Capital
2.10% 12/11/19		3,860,000		3,841,704
3.45% 5/15/24		9,990,000		10,031,528
#144A 3.80% 6/18/19		4,305,000		4,590,288
6.00% 8/7/19		10,904,000		12,730,682
•7.125% 12/15/49		16,055,000		18,611,807
General Motors Financial
3.00% 9/25/17		4,770,000		4,823,663
4.375% 9/25/21		6,500,000		6,654,375
JPMorgan Chase
3.50% 12/18/26	GBP	241,000		390,723
•6.75% 8/29/49		15,210,000		16,054,155
•Lloyds Banking Group 7.50% 4/30/49		13,465,000		13,902,613
•National Rural Utilities Cooperative Finance 4.75% 4/30/43		9,921,000		9,834,191
Royal Bank of Scotland Group 5.125% 5/28/24		6,625,000		6,521,710
#Suam Finance 144A 4.875% 4/17/24		2,200,000		2,244,000
#Temasek Financial I 144A 2.375% 1/23/23		2,910,000		2,800,954
#•USB Realty 144A 1.381% 12/22/49		715,000		664,056


				188,891,987

Diversified Telecommunication Services–1.41%
AT&T 4.80% 6/15/44		22,575,000		22,329,474


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Telecommunication Services (continued)
#Bharti Airtel International Netherlands 144A 5.35% 5/20/24		5,970,000	$	6,391,422
CenturyLink 5.80% 3/15/22		7,008,000		7,218,240
#Digicel Group 144A 8.25% 9/30/20		5,910,000		6,117,441
#Oi 144A 5.75% 2/10/22		3,482,000		3,290,838
#SBA Tower Trust 144A 2.24% 4/15/18		5,285,000		5,218,166
#SES 144A 3.60% 4/4/23		16,367,000		16,539,475
Telefonica Emisiones 4.57% 4/27/23		17,540,000		18,345,770
Verizon Communications
5.15% 9/15/23		5,160,000		5,718,168
6.55% 9/15/43		4,698,000		5,878,166


				97,047,160

Electric Utilities–3.25%
AES Gener
#144A 5.25% 8/15/21		2,390,000		2,530,441
#•144A 8.375% 12/18/73		3,031,000		3,425,030
#American Transmission Systems 144A 5.25% 1/15/22		11,987,000		13,298,066
Berkshire Hathaway Energy 3.75% 11/15/23		9,680,000		9,948,930
Cleveland Electric Illuminating 5.50% 8/15/24		7,535,000		8,692,557
ComEd Financing III 6.35% 3/15/33		4,578,000		4,726,785
Commonwealth Edison 5.95% 8/15/16		522,000		570,142
Electricite de France
#144A 4.60% 1/27/20		5,470,000		6,045,274
#•144A 5.25% 12/29/49		16,755,000		17,069,156
#•Enel 144A 8.75% 9/24/73		13,685,000		15,926,603
Entergy Arkansas 3.70% 6/1/24		2,815,000		2,899,695
Entergy Louisiana 4.05% 9/1/23		7,435,000		7,955,532
Entergy Mississippi 3.10% 7/1/23		4,960,000		4,898,848
Great Plains Energy
4.85% 6/1/21		6,243,000		6,886,716
5.292% 6/15/22		5,526,000		6,295,910
Ipalco Enterprises 5.00% 5/1/18		2,440,000		2,583,350
ITC Holdings 3.65% 6/15/24		14,750,000		14,734,011
LG&E & KU Energy
3.75% 11/15/20		6,819,000		7,093,826
4.375% 10/1/21		12,420,000		13,382,326
#Metropolitan Edison 144A 4.00% 4/15/25		8,455,000		8,476,011
NextEra Energy Capital Holdings
2.40% 9/15/19		8,525,000		8,480,414
3.625% 6/15/23		4,090,000		4,148,602


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Electric Utilities (continued)
NV Energy 6.25% 11/15/20		8,185,000	$	9,638,304
Pennsylvania Electric 5.20% 4/1/20		6,983,000		7,725,712
Public Service of New Hampshire 3.50% 11/1/23		4,715,000		4,873,499
Public Service of Oklahoma 5.15% 12/1/19		7,063,000		7,889,286
Saudi Electricity Global Sukuk 3
#144A 4.00% 4/8/24		3,125,000		3,218,750
#144A 5.50% 4/8/44		951,000		1,005,683
Southwestern Electric Power 6.45% 1/15/19		3,925,000		4,583,309
State Grid Overseas Investment 2014
#144A 2.75% 5/7/19		3,220,000		3,230,156
#144A 4.125% 5/7/24		5,795,000		5,953,157
#Transelec 144A 4.25% 1/14/25		5,145,000		5,118,894


				223,304,975

Electronic Equipment, Instruments & Components–0.21%
Thermo Fisher Scientific
2.40% 2/1/19		7,840,000		7,860,164
4.15% 2/1/24		6,200,000		6,431,632


				14,291,796

Food Products–0.46%
Brasil Foods
#144A 3.95% 5/22/23		2,750,000		2,594,487
#144A 5.875% 6/6/22		2,170,000		2,349,025
#Cosan Luxembourg 144A 5.00% 3/14/23		2,550,000		2,454,375
#JBS Investments 144A 7.75% 10/28/20		6,410,000		6,842,675
#Minerva Luxembourg 144A 7.75% 1/31/23		2,800,000		2,857,400
Sysco
3.50% 10/2/24		5,995,000		6,023,800
4.35% 10/2/34		8,645,000		8,799,478


				31,921,240

Health Care Equipment & Supplies–0.66%
Boston Scientific
2.65% 10/1/18		4,075,000		4,118,761
6.00% 1/15/20		16,769,000		19,140,640
CareFusion 6.375% 8/1/19		11,104,000		12,821,944
Zimmer Holdings 4.625% 11/30/19		8,274,000		9,037,583


				45,118,928

Health Care Providers & Services–0.32%
Highmark
#144A 4.75% 5/15/21		2,823,000		2,869,690
#144A 6.125% 5/15/41		1,062,000		1,075,322
McKesson 3.796% 3/15/24		13,910,000		14,053,843


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Health Care Providers & Services (continued)
Quest Diagnostics 2.70% 4/1/19		4,045,000	$	4,069,452


				22,068,307

Hotels, Restaurants & Leisure–0.46%
International Game Technology 5.35% 10/15/23		10,450,000		10,765,611
Marriott International 3.375% 10/15/20		4,820,000		4,952,420
Starwood Hotels & Resorts Worldwide
3.75% 3/15/25		5,225,000		5,159,155
4.50% 10/1/34		3,230,000		3,151,123
Wyndham Worldwide
4.25% 3/1/22		2,480,000		2,514,782
5.625% 3/1/21		4,630,000		5,147,569


				31,690,660

Independent Power Producers & Energy Traders–0.24%
#Comision Federal de Electricidad 144A 4.875% 1/15/24		2,370,000		2,496,795
Exelon Generation 4.25% 6/15/22		13,300,000		13,729,071


				16,225,866

Insurance–2.11%
•Allstate 5.75% 8/15/53		7,065,000		7,537,472
American International Group
•8.175% 5/15/58		1,500,000		2,028,750
8.25% 8/15/18		12,897,000		15,766,518
Berkshire Hathaway Finance 2.90% 10/15/20		6,595,000		6,712,958
•Chubb 6.375% 3/29/67		12,793,000		14,088,291
#Five Corners Funding Trust 144A 4.419% 11/15/23		21,995,000		23,064,749
•ING US 5.65% 5/15/53		7,175,000		7,246,750
Liberty Mutual Group
#144A 4.25% 6/15/23		10,140,000		10,382,072
#144A 4.95% 5/1/22		1,974,000		2,128,564
MetLife
3.60% 4/10/24		7,620,000		7,716,492
6.40% 12/15/36		50,000		56,000
6.817% 8/15/18		9,639,000		11,313,738
#MetLife Capital Trust IV 144A 7.875% 12/15/37		589,000		756,865
#MetLife Capital Trust X 144A 9.25% 4/8/38		7,696,000		11,139,960
Prudential Financial
4.50% 11/15/20		1,836,000		1,991,702
•5.625% 6/15/43		3,710,000		3,885,112
•5.875% 9/15/42		3,195,000		3,402,675
Teachers Insurance & Annuity Association of America
#•144A 4.375% 9/15/54		3,705,000		3,741,235
#144A 4.90% 9/15/44		7,190,000		7,356,441


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Insurance (continued)
•XL Group 6.50% 12/31/49		5,100,000	$	4,947,000


				145,263,344

Internet Software & Services–0.32%
Baidu
2.75% 6/9/19		5,245,000		5,219,488
3.25% 8/6/18		6,475,000		6,678,613
Expedia 4.50% 8/15/24		5,070,000		5,034,779
#Tencent Holdings 144A 3.375% 5/2/19		5,225,000		5,287,057


				22,219,937

Machinery–0.58%
Crane
2.75% 12/15/18		1,905,000		1,940,896
4.45% 12/15/23		8,380,000		8,801,070
General Electric 4.50% 3/11/44		7,480,000		7,786,889
Ingersoll-Rand Global Holding 4.25% 6/15/23		13,445,000		14,125,263
Trinity Industries 4.55% 10/1/24		7,045,000		7,071,398


				39,725,516

Media–2.55%
#British Sky Broadcasting Group 144A 3.75% 9/16/24		11,135,000		11,132,283
CC Holdings GS V 3.849% 4/15/23		995,000		980,483
#Columbus International 144A 7.375% 3/30/21		7,045,000		7,353,219
Comcast
3.375% 2/15/25		24,150,000		23,872,541
4.20% 8/15/34		4,780,000		4,754,805
4.75% 3/1/44		2,155,000		2,282,675
DIRECTV Holdings
4.45% 4/1/24		20,095,000		20,968,550
5.15% 3/15/42		1,755,000		1,781,083
Grupo Televisa SAB 5.00% 5/13/45		5,135,000		5,098,490
Historic TW 6.875% 6/15/18		17,977,000		21,014,718
Interpublic Group 2.25% 11/15/17		1,485,000		1,491,948
#SES Global Americas Holdings 144A 5.30% 3/25/44		4,785,000		5,074,693
Time Warner 3.55% 6/1/24		10,450,000		10,320,922
Time Warner Cable
4.00% 9/1/21		8,215,000		8,657,008
8.25% 4/1/19		13,209,000		16,467,409
Viacom
4.875% 6/15/43		13,200,000		13,221,080
5.25% 4/1/44		8,085,000		8,387,403
#VTR Finance 144A 6.875% 1/15/24		5,490,000		5,695,875


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Media (continued)
WPP Finance 2010 5.625% 11/15/43		5,960,000	$	6,499,487


				175,054,672

Metals & Mining–0.66%
ArcelorMittal 10.35% 6/1/19		13,421,000		16,423,949
#FMG Resources August 2006 144A 6.875% 4/1/22		9,935,000		10,146,119
#Gerdau Holdings 144A 7.00% 1/20/20		3,080,000		3,480,400
#MMC Norilsk Nickel 144A 5.55% 10/28/20		2,000,000		1,995,000
#Tupy Overseas 144A 6.625% 7/17/24		3,450,000		3,527,625
#Vedanta Resources 144A 6.00% 1/31/19		4,145,000		4,207,175
#Yamana Gold 144A 4.95% 7/15/24		5,690,000		5,675,092


				45,455,360

Multi-Utilities–0.94%
Ameren Illinois 9.75% 11/15/18		14,616,000		18,913,879
American Water Capital 3.40% 3/1/25		6,250,000		6,237,344
CenterPoint Energy 5.95% 2/1/17		299,000		329,962
CMS Energy 6.25% 2/1/20		3,749,000		4,397,978
•Integrys Energy Group 6.11% 12/1/66		9,088,000		9,272,595
NiSource Finance 6.125% 3/1/22		6,578,000		7,713,830
Puget Energy 6.00% 9/1/21		2,034,000		2,368,595
SCANA 4.125% 2/1/22		5,188,000		5,360,911
•Wisconsin Energy 6.25% 5/15/67		9,790,000		10,138,739


				64,733,833

Office Electronics–0.06%
Xerox 6.35% 5/15/18		3,891,000		4,449,619


				4,449,619

Oil, Gas & Consumable Fuels–4.99%
Anadarko Petroleum 3.45% 7/15/24		5,990,000		5,895,400
Cimarex Energy 4.375% 6/1/24		4,740,000		4,787,400
#CNOOC Finance 2012 144A 3.875% 5/2/22		3,322,000		3,333,242
CNOOC Nexen Finance 2014 4.25% 4/30/24		9,280,000		9,423,794
Continental Resources 4.50% 4/15/23		19,320,000		20,047,321
El Paso Pipeline Partners Operating 4.30% 5/1/24		23,715,000		23,678,242


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
•Enbridge Energy Partners 8.05% 10/1/37		7,852,000	$	8,872,760
Energy Transfer Partners
5.15% 2/1/43		5,060,000		4,906,277
5.95% 10/1/43		20,480,000		22,033,265
9.70% 3/15/19		4,776,000		6,117,306
EnLink Midstream Partners 4.40% 4/1/24		14,275,000		14,844,401
Ensco 4.50% 10/1/24		9,510,000		9,561,088
•Enterprise Products Operating 7.034% 1/15/68		11,034,000		12,477,678
#KazMunayGas National JSC 144A 9.125% 7/2/18		5,980,000		7,019,025
Kinder Morgan Energy Partners 9.00% 2/1/19		8,231,000		10,264,979
Lukoil International Finance
6.125% 11/9/20		3,306,000		3,339,060
#144A 6.125% 11/9/20		2,685,000		2,711,850
Marathon Petroleum 4.75% 9/15/44		22,275,000		21,466,818
Newfield Exploration 5.625% 7/1/24		5,105,000		5,487,875
#Oleoducto Central 144A 4.00% 5/7/21		5,695,000		5,704,682
ONGC Videsh 2.50% 5/7/18		5,950,000		5,897,878
Pacific Rubiales Energy
#144A 5.375% 1/26/19		2,000,000		2,035,000
#144A 5.625% 1/19/25		2,495,000		2,403,808
#144A 7.25% 12/12/21		4,740,000		5,178,450
#Pertamina Persero 144A 4.875% 5/3/22		3,145,000		3,156,008
Petrobras Global Finance 4.875% 3/17/20		11,705,000		11,888,827
Petrobras International Finance 5.375% 1/27/21		3,136,000		3,185,612
Petroleos de Venezuela 9.00% 11/17/21		2,535,000		1,704,787
Plains All American Pipeline 8.75% 5/1/19		7,183,000		9,104,804
Plains Exploration & Production 6.50% 11/15/20		2,909,000		3,192,977
Pride International 6.875% 8/15/20		18,001,000		21,248,776
#•PTT Exploration & Production 144A 4.875% 12/29/49		6,680,000		6,763,500
Statoil 2.90% 11/8/20		4,485,000		4,579,970
Sunoco Logistics Partners Operations 3.45% 1/15/23		10,245,000		9,954,319
Talisman Energy 5.50% 5/15/42		13,435,000		13,724,806
TransCanada PipeLines
3.80% 10/1/20		132,000		139,264
•6.35% 5/15/67		12,098,000		12,521,430


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Williams 4.55% 6/24/24		5,800,000	$	5,748,943
Williams Partners 7.25% 2/1/17		6,510,000		7,335,149
#Woodside Finance 144A 8.75% 3/1/19		7,009,000		8,767,362
#YPF 144A 8.75% 4/4/24		2,400,000		2,454,000


				342,958,133

Paper & Forest Products–0.54%
Fibria Overseas Finance 5.25% 5/12/24		4,555,000		4,503,756
Georgia-Pacific 8.00% 1/15/24		13,854,000		18,584,448
International Paper
3.65% 6/15/24		6,530,000		6,348,564
4.80% 6/15/44		490,000		476,423
6.00% 11/15/41		6,205,000		7,083,088


				36,996,279

Pharmaceuticals–1.01%
Express Scripts Holding
2.25% 6/15/19		5,730,000		5,655,980
3.50% 6/15/24		12,680,000		12,441,045
#Forest Laboratories 144A 4.375% 2/1/19		11,075,000		11,668,598
Perrigo
#144A 4.00% 11/15/23		15,000,000		15,288,855
#144A 5.30% 11/15/43		2,800,000		3,035,220
Zoetis
1.875% 2/1/18		7,750,000		7,701,167
3.25% 2/1/23		13,950,000		13,667,094


				69,457,959

Real Estate Investment Trusts–2.02%
Alexandria Real Estate Equities
3.90% 6/15/23		5,320,000		5,310,897
4.50% 7/30/29		3,600,000		3,610,256
4.60% 4/1/22		6,817,000		7,167,401
American Tower Trust I
#144A 1.551% 3/15/43		9,885,000		9,732,549
#144A 3.07% 3/15/23		6,675,000		6,573,006
Brandywine Operating Partnership 4.10% 10/1/24		1,265,000		1,252,396
CBL & Associates 5.25% 12/1/23		4,960,000		5,335,060
#Comcel Trust 144A 6.875% 2/6/24		1,850,000		1,956,375
Corporate Office Properties
3.60% 5/15/23		4,970,000		4,762,080
5.25% 2/15/24		5,560,000		5,936,373
DDR
4.75% 4/15/18		3,752,000		4,050,922
7.50% 4/1/17		1,730,000		1,968,835
7.875% 9/1/20		6,092,000		7,579,216
9.625% 3/15/16		478,000		536,767


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Real Estate Investment Trusts (continued)
Digital Realty Trust 5.875% 2/1/20		3,674,000	$	4,086,877
Excel Trust 4.625% 5/15/24		3,845,000		3,915,902
Healthcare Trust of America Holdings 3.375% 7/15/21		3,405,000		3,392,967
Hospitality Properties Trust 4.50% 3/15/25		6,735,000		6,666,869
Host Hotels & Resorts
3.75% 10/15/23		11,990,000		11,878,553
4.75% 3/1/23		1,775,000		1,886,910
5.875% 6/15/19		2,475,000		2,622,861
Regency Centers
4.80% 4/15/21		2,365,000		2,578,787
5.875% 6/15/17		2,897,000		3,212,443
#Trust F 144A 5.25% 12/15/24		4,560,000		4,753,800
#WEA Finance 144A 3.75% 9/17/24		13,885,000		13,875,891
Weyerhaeuser 4.625% 9/15/23		13,438,000		14,258,820


				138,902,813

Real Estate Management & Development–0.08%
WP Carey 4.60% 4/1/24		5,270,000		5,457,796


				5,457,796

Road & Rail–0.30%
Burlington Northern Santa Fe
3.40% 9/1/24		5,810,000		5,740,942
4.90% 4/1/44		8,680,000		9,175,741
Norfolk Southern 3.85% 1/15/24		5,590,000		5,791,777


				20,708,460

Semiconductors & Semiconductor Equipment–0.27%
Broadcom 4.50% 8/1/34		1,715,000		1,755,268
National Semiconductor 6.60% 6/15/17		10,220,000		11,663,340
#Samsung Electronics America 144A 1.75% 4/10/17		5,285,000		5,303,915


				18,722,523

Software–0.23%
Oracle
3.40% 7/8/24		11,005,000		10,983,947
4.50% 7/8/44		5,070,000		5,144,995


				16,128,942

Specialty Retail–0.85%
Bed Bath & Beyond
4.915% 8/1/34		14,740,000		14,693,864
5.165% 8/1/44		5,775,000		5,667,371
QVC
4.375% 3/15/23		16,300,000		16,290,774
#144A 5.45% 8/15/34		7,900,000		7,782,630


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Specialty Retail (continued)
Signet UK Finance 4.70% 6/15/24		9,645,000	$	9,716,788
Target 2.30% 6/26/19		3,980,000		3,990,280


				58,141,707

Transportation Infrastructure–0.19%
AP Moeller - Maersk
#144A 2.55% 9/22/19		3,915,000		3,929,020
#144A 3.75% 9/22/24		5,550,000		5,576,229
#DP World 144A 6.85% 7/2/37		3,000,000		3,378,900


				12,884,149

Wireless Telecommunication Services–1.32%
America Movil SAB de CV 5.00% 3/30/20		12,637,000		13,891,980
#Crown Castle Towers 144A 4.883% 8/15/20		30,655,000		33,855,267
#Millicom International Cellular 144A 6.625% 10/15/21		2,750,000		2,866,875
Motorola Solutions 4.00% 9/1/24		9,215,000		9,013,118
#Turk Telekomunikasyon AS 144A 3.75% 6/19/19		2,030,000		1,985,614
#Verizon Communications 144A 4.862% 8/21/46		23,341,000		23,463,867
#VimpelCom 144A 7.748% 2/2/21		5,705,000		5,904,675


				90,981,396


Total Corporate Bonds (Cost $2,702,221,059)				2,782,552,780

MUNICIPAL BONDS–2.18%
Los Angeles, California Department of Water & Power Revenue Taxable Build America Bonds 6.574% 7/1/45		16,555,000		23,117,899
Massachusetts State Transportation Fund Revenue Recovery Zone Economic Development Taxable Build America Bonds 5.731% 6/1/40		6,425,000		7,995,848
New Jersey State Turnpike Authority Revenue Taxable Build America Bonds Series A 7.102% 1/1/41		13,481,000		18,710,415
New Jersey Transportation Trust Fund Authority Transportation Program Series AA 5.00% 6/15/44		4,970,000		5,286,788
New York City, New York


	Principal Amount°		Value (U.S. $)

MUNICIPAL BONDS (continued)
Series I 5.00% 8/1/22		2,260,000	$	2,707,299
New York Metropolitan Transportation Authority Revenue Taxable Build America Bonds Series E 6.814% 11/15/40		3,690,000		5,053,234
New York Sales Tax Asset Receivables Taxable Series B 4.66% 10/15/14 (NATL-RE)		400,000		400,652
New York State Thruway Authority Series A 5.00% 5/1/19		3,280,000		3,806,538
New York Triborough Bridge & Tunnel Authority Revenue Taxable Build America Bond Series A2 5.45% 11/15/32		18,055,000		20,268,904
New York, New York Taxable Build America Bonds Series F-1 6.271% 12/1/37		18,710,000		23,767,313
Oregon State Taxable Pension 5.892% 6/1/27		3,475,000		4,245,651
San Francisco Bay Area California Toll Authority Bridge Revenue Taxable Build America Bonds Series S3 6.907% 10/1/50		11,030,000		15,766,503
State of Maryland Local Facilities Series A 5.00% 8/1/21		3,085,000		3,743,031
Texas Private Activity Bond Surface Transportation Senior Lien Revenue Bond (NTE Mobility) 6.75% 6/30/43 (AMT)		2,365,000		2,842,494
University of Missouri (Curators University) Taxable Build America Bonds 5.792% 11/1/41		9,235,000		12,082,058


Total Municipal Bonds (Cost $120,865,897)				149,794,627

NON-AGENCY ASSET-BACKED SECURITIES–5.00%
AEP Texas Central Transition Funding II 5.17% 1/1/18		2,000,000		2,160,860
Ally Master Owner Trust
Series 2013-1 A2 1.00% 2/15/18		4,415,000		4,422,033
•Series 2013-2 A 0.604% 4/15/18		5,000,000		5,007,785
•Series 2014-2 A 0.524% 1/16/18		11,750,000		11,756,145


	Principal Amount°		Value (U.S. $)

NON-AGENCY ASSET-BACKED SECURITIES (continued)
#•ALM VII Series 2012-7A A1
144A 1.654% 10/19/24		14,750,000	$	14,714,600
American Express Credit Account Master Trust
•Series 2013-2 A 0.574% 5/17/21		4,230,000		4,246,827
•Series 2014-1 A 0.524% 12/15/21		5,000,000		5,004,400
Series 2014-3 A 1.49% 4/15/20		6,195,000		6,186,990
#ARL Second Series 2014-1A A1 144A 2.92% 6/15/44		6,069,702		6,041,775
Avis Budget Rental Car Funding AESOP
#Series 2011-3A A 144A 3.41% 11/20/17		4,665,000		4,857,567
#Series 2013-1A A 144A 1.92% 9/20/19		6,000,000		5,947,614
#Series 2014-1A A 144A 2.46% 7/20/20		5,670,000		5,667,636
•BA Credit Card Trust Series
2014-A3 A 0.444% 1/15/20		5,230,000		5,230,722
#California Republic Auto Receivables Trust Series 2013-1 A2 144A 1.41% 9/17/18		1,976,696		1,991,495
Capital One Multi-Asset Execution Trust
•Series 2006-A11 A11 0.244% 6/17/19		20,000,000		19,920,440
•Series 2007-A2 A2 0.234% 12/16/19		6,840,000		6,809,124
Series 2007-A7 A7 5.75% 7/15/20		13,484,000		15,086,708
•Series 2013-A2 A2 0.334% 2/15/19		3,500,000		3,499,454
•Series 2014-A3 A3 0.534% 1/18/22		8,000,000		8,008,360
#•Cent CLO Series 2013-20A A 144A 1.714% 1/25/26		9,000,000		9,004,500
CenterPoint Energy Transition Bond IV Series 2012-1 A3 3.028% 10/15/25		4,340,000		4,348,159
Chase Issuance Trust
•Series 2007-B1 B1 0.404% 4/15/19		20,592,000		20,499,233
•Series 2013-A3 A3 0.434% 4/15/20		10,000,000		9,991,450
•Series 2013-A9 A 0.574% 11/16/20		7,500,000		7,515,525
Citibank Credit Card Issuance Trust
•Series 2013-A4 A4 0.575% 7/24/20		4,500,000		4,515,003
•Series 2013-A7 A7 0.584% 9/10/20		750,000		752,898
Series 2014-A5 A5 2.68% 6/7/23		3,980,000		3,986,945


	Principal Amount°		Value (U.S. $)

NON-AGENCY ASSET-BACKED SECURITIES (continued)
Citicorp Residential Mortgage Securities
fSeries 2006-3 A4 5.703% 11/25/36		47,025	$	47,568
fSeries 2006-3 A5 5.948% 11/25/36		5,708,000		5,707,886
#Dell Equipment Finance Trust
Series 2014-1 A3 144A 0.94% 6/22/20		4,420,000		4,417,180
Discover Card Execution Note Trust
Series 2012-A6 A6 1.67% 1/18/22		8,140,000		7,926,455
Series 2014-A3 A3 1.22% 10/15/19		6,875,000		6,861,546
#•Dryden XVI-Leveraged Loan CDO Series 2006-16A A1 144A 0.474% 10/20/20		7,547,414		7,487,035
#•Flagship CLO Series 2013-7A A1 144A 1.704% 1/20/26		14,000,000		13,981,800
GE Equipment Transportation Series 2014-1 Series 2014-1 A3 0.97% 4/23/18		3,125,000		3,123,041
Golden Credit Card Trust
#Series 2012-5A A 144A 0.79% 9/15/17		2,420,000		2,424,642
#•Series 2014-2A A 144A 0.606% 3/15/21		5,500,000		5,497,553
#GreatAmerica Leasing Receivables Series 2014-1 A3 144A 0.89% 7/15/17		5,600,000		5,592,171
#Hyundai Auto Lease Securitization Trust Series 2014-A A4 144A 1.01% 9/15/17		7,145,000		7,147,272
#•JFIN CLO Series 2014-1A A 144A 1.734% 4/21/25		9,500,000		9,500,000
#•KKR CLO Trust Series 2013-1A A1 144A 1.384% 7/15/25		10,000,000		9,819,000
#•MAPS CLO Fund II Series 2007-2A A1 144A 0.474% 7/20/22		13,437,465		13,245,309
#•Mayport CLO Series 2006-1A A1L 144A 0.485% 2/22/20		1,059,389		1,057,270
Mid-State Trust Series 11 A1 4.864% 7/15/38		678,844		723,027
#MMAF Equipment Finance Series 2014-AA A4 144A 1.59% 2/8/22		6,750,000		6,680,185
#•Telos CLO Series 2013-4A A 144A 1.533% 7/17/24		11,500,000		11,408,000
#•Trade MAPS 1 Series 2013-1A A 144A 0.854% 12/10/18		3,970,000		3,980,743
#•Trafigura Securitisation Finance Series 2012-1A A 144A 2.554% 10/15/15		522,000		524,161


	Principal Amount°		Value (U.S. $)

NON-AGENCY ASSET-BACKED SECURITIES (continued)
#•Venture XVI CLO Series 2014-16A A1L 144A 1.868% 4/15/26		12,000,000	$	12,006,000
Volvo Financial Equipment
#Series 2014-1A A3 144A 0.82% 4/16/18		2,530,000		2,523,070
#Series 2014-1A B 144A 1.66% 11/16/20		4,300,000		4,268,060
World Omni Automobile Lease Securitization Trust Series 2012-A A3 0.93% 11/16/15		467,711		467,849


Total Non-Agency Asset-Backed Securities (Cost $341,788,175)				343,591,071

NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.07%
Bank of America Alternative Loan Trust Series 2005-3 2A1 5.50% 4/25/20		125,037		129,068
•Bank of America Mortgage Securities Series 2004-L 4A1 5.219% 1/25/35		381,365		378,272
#•GSMPS Mortgage Loan Trust 144A Series 1998-3 A 144A 7.75% 9/19/27		238,356		249,976
MASTR Alternative Loans Trust Series 2003-2 6A1 6.00% 3/25/33		115,847		125,041
•MASTR ARM Trust Series 2003-6 1A2 2.45% 12/25/33		225,658		225,593
#•MASTR Specialized Loan Trust Series 2005-2 A2 144A 5.006% 7/25/35		171,937		171,934
•Merrill Lynch Mortgage Investors Series 2005-A2 A3 2.469% 2/25/35		212,702		198,045
#•Sequoia Mortgage Trust Series 2013-11 B1 144A 3.716% 9/25/43		3,258,266		3,172,307
•Structured ARM Loan Trust Series 2004-3AC A2 2.39% 3/25/34		141,052		143,254
¿Washington Mutual Mortgage Pass Through Certificates Series 2003-S10 A2 5.00% 10/25/18		248,595		255,851


Total Non-Agency Collateralized Mortgage Obligations (Cost $5,014,065)				5,049,341

«SENIOR SECURED LOANS–0.93%
Avago Technologies Tranche B 1st Lien 3.75% 4/16/21		9,276,750		9,206,061


	Principal Amount°		Value (U.S. $)

«SENIOR SECURED LOANS (continued)
Chrysler Group Tranche B 1st Lien 3.50% 5/24/17		5,888,702	$	5,850,072
First Data Tranche B 1st Lien 4.00% 3/24/21		15,000,000		14,817,225
Level 3 Financing Tranche B 4.00% 1/15/20		11,950,000		11,754,319
PQ 1st Lien 4.00% 8/7/17		5,954,545		5,896,072
Univision Communications Tranche C4 4.00% 3/1/20		11,820,675		11,617,537
USI Insurance Services Tranche B 1st Lien 4.25% 12/3/18		4,745,837		4,668,717


Total Senior Secured Loans (Cost $64,243,862)				63,810,003

DSOVEREIGN BONDS–0.63%
Brazil–0.05%
Brazil Notas do Tesouro Nacional Series F
10.00% 1/1/17	BRL	2,859,000		1,116,972
10.00% 1/1/21	BRL	6,613,000		2,432,551


				3,549,523

Chile–0.04%
Chile Government International Bond 5.50% 8/5/20	CLP	1,494,000,000		2,641,819


				2,641,819

Colombia–0.04%
Colombia Government International Bond
4.375% 3/21/23	COP	2,910,000,000		1,245,196
9.85% 6/28/27	COP	2,580,000,000		1,613,746


				2,858,942

Guatemala–0.03%
#Republic of Guatemala 144A 5.75% 6/6/22		2,000,000		2,215,000


				2,215,000

Indonesia–0.07%
#Indonesia Government International Bond 144A 5.875% 1/15/24		4,379,000		4,838,795


				4,838,795

Kenya–0.05%
#Kenya Government International Bond 144A 5.875% 6/24/19		3,500,000		3,609,375


				3,609,375

Pakistan–0.05%
#Pakistan Government International Bond 144A 7.25% 4/15/19		3,142,000		3,185,203


				3,185,203

Principal
Amount°

Value
(U.S. $)

DSOVEREIGN BONDS (continued)

Panama–0.08%

Panama Government International Bond
4.00% 9/22/24

5,254,000

5,267,135

5,267,135

Philippines–0.00%

Philippine Government International Bond
6.25% 1/14/36

PHP

10,000,000

239,433

239,433

Portugal–0.02%

#Portugal Government International Bond 144A
5.125% 10/15/24

1,256,000

1,302,497

1,302,497

Romania–0.07%

#Romanian Government International Bond 144A
4.875% 1/22/24

4,296,000

4,575,240

4,575,240

Senegal–0.02%

#Senegal Government International Bond 144A
6.25% 7/30/24

1,300,000

1,303,250

1,303,250

South Africa–0.07%

South Africa Government Bond
8.00% 1/31/30

ZAR

59,831,000

4,981,720

4,981,720

Sri Lanka–0.04%

#Sri Lanka Government International Bond 144A
6.00% 1/14/19

2,531,000

2,676,533

2,676,533

Sweden–0.00%

Sweden Government Bond

1.50% 11/13/23

SEK

645,000

90,523

2.50% 5/12/25

SEK

30,000

4,575

3.00% 7/12/16

SEK

1,270,000

184,841

279,939

Total Sovereign Bonds
(Cost $43,395,270)

43,524,404


		Principal Amount°		Value (U.S. $)

SUPRANATIONAL BANK–0.04%
European Bank for Reconstruction & Development 6.00% 3/3/16	INR		158,700,000	$	2,557,033


Total Supranational Bank (Cost $2,603,269)					2,557,033

U.S. TREASURY OBLIGATIONS–10.19%
U.S. Treasury Bond 3.125% 8/15/44			127,520,000		125,497,660
U.S. Treasury Notes
1.75% 9/30/19			347,495,000		347,047,079
¥2.375% 8/15/24			230,565,000		227,917,192


Total U.S. Treasury Obligations (Cost $700,913,303)					700,461,931


		Number of Shares

PREFERRED STOCK–0.32%
Alabama Power 5.625%			137,242		3,373,408
•Integrys Energy Group 6.00%			285,850		7,329,194
National Retail Properties 5.70%			147,630		3,520,976
Public Storage 5.20%			125,605		2,836,161
•Regions Financial 6.375%			190,400		4,832,352


Total Preferred Stock (Cost $21,960,358)					21,892,091


MONEY MARKET FUND–1.04%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares			71,355,200		71,355,200


Total Money Market Fund (Cost $71,355,200)					71,355,200


		Principal Amount°

SHORT-TERM INVESTMENTS–22.40%
Certificates of Deposit–3.87%
Banco Estado Chile 0.20% 10/7/14			20,000,000		20,000,156
Bank of Montreal Chicago 0.16% 11/12/14			36,500,000		36,498,693
Chase Bank USA 0.76% 12/4/14			55,000,000		55,019,800
Deutsche Bank New York 0.44% 12/10/14			4,750,000		4,751,489
Dnb Nor Bank New York 0.29% 12/10/14			4,750,000		4,751,026


	Principal Amount°		Value (U.S. $)

SHORT-TERM INVESTMENTS (continued)
Certificates of Deposit (continued)
HSBC Bank USA 0.23% 3/19/15		50,000,000	$	49,995,280
Nordea Bank Finland New York 0.15% 10/28/14		25,000,000		25,000,875
Rabobank Nederland New York 0.26% 12/11/14		4,750,000		4,751,042
Toronto Dominion Bank New York 0.16% 11/17/14		50,000,000		50,004,000
UBS Stamford CT 0.21% 10/21/14		15,000,000		15,000,786


				265,773,147

≠Discounted Commercial Paper–14.94%
Abbey National North America 0.12% 10/1/14		73,700,000		73,700,000
Abbott Laboratories 0.08% 12/23/14		18,500,000		18,496,633
American Honda Finance 0.13% 10/6/14		40,000,000		39,999,532
ANZ New Zealand International 0.19% 11/17/14		30,150,000		30,144,935
BASF
0.06% 10/29/14		29,650,000		29,648,091
0.07% 11/24/14		10,080,000		10,078,568
BNP Paribas Finance 0.01% 10/1/14		3,500,000		3,500,000
Brown University
0.09% 11/18/14		16,780,000		16,778,154
0.11% 11/5/14		16,000,000		15,998,560
Commonwealth Bank of Australia •×0.22% 10/17/14		50,000,000		50,001,400
Cornell University
0.10% 10/7/14		4,175,000		4,174,917
0.10% 11/5/14		12,500,000		12,498,875
0.10% 11/20/14		6,600,000		6,599,142
CPPIB Capital 0.13% 11/4/14		10,000,000		9,998,798
Danaher 0.09% 10/9/14		30,000,000		29,999,229
Dartmouth College 0.12% 12/10/14		5,500,000		5,498,680
Duke University 0.12% 12/10/14		6,000,000		5,998,261
Exxon Mobil 0.01% 10/1/14		38,915,000		38,915,000
General Electric Capital
0.17% 10/7/14		5,000,000		4,999,951
0.38% 1/27/15		55,000,000		54,971,273
Glaxosmithkline Finance
0.08% 10/21/14		17,725,000		17,723,759
0.13% 10/14/14		15,000,000		14,999,364


	Principal Amount°		Value (U.S. $)

SHORT-TERM INVESTMENTS (continued)
≠Discounted Commercial Paper (continued)
HSBC USA 0.20% 1/12/15		15,000,000	$	14,992,215
John Deere Financial 0.09% 11/19/14		6,000,000		5,999,059
JP Morgan Securities 0.45% 12/19/14		9,750,000		9,746,107
Koch Resources
0.07% 10/8/14		35,000,000		34,999,447
0.12% 10/1/14		26,000,000		25,999,951
Leland Stanford Junior University 0.12% 11/5/14		6,990,000		6,989,231
Lloyds Bank 0.33% 1/5/15		65,000,000		64,965,557
Nordea Bank 0.16% 12/23/14		25,000,000		24,990,433
Procter & Gamble ×0.14% 12/8/14		50,000,000		49,993,005
Rabobank USA Finance 0.21% 11/12/14		25,000,000		24,996,508
Standard Chartered Bank 0.20% 12/4/14		24,955,000		24,947,656
Toronto Dominion Holdings USA 0.18% 11/25/14		13,900,000		13,897,830
Total Capital Canada
0.11% 10/17/14		25,000,000		24,999,020
0.11% 11/26/14		7,680,000		7,678,347
Toyota Motor Credit
0.15% 3/17/15		50,000,000		49,959,400
0.16% 11/12/14		30,000,000		29,997,540
UBS Finance Delaware 0.08% 10/31/14		17,535,000		17,533,313
Unilever Capital 0.06% 10/1/14		27,000,000		26,999,949
Wal-Mart Stores 0.08% 10/1/14		55,500,000		55,499,983
Yale University 0.08% 10/22/14		17,500,000		17,499,027


				1,027,406,700

Floating Rate Notes–3.59%
Bank of Nova Scotia •0.27% 12/5/14		25,000,000		25,003,275
National Australia Bank •0.224% 10/23/14		50,000,000		50,002,050
U.S. Treasury •0.085% 7/31/16		172,000,000		172,100,620


				247,105,945


Total Short Term Investments (Cost $1,540,245,210)				1,540,285,792

The following foreign currency exchange contracts and futures contracts were outstanding at September 30, 2014:

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Principal Amount°		Value (U.S. $)

AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–1.06%
Fannie Mae Connecticut Avenue Securities
•Series 2014-C02 1M1 1.105% 5/25/24		2,010,358	$	1,978,703
•Series 2014-C03 1M1 1.355% 7/25/24		1,533,595		1,522,805
Fannie Mae REMICs
•Series 1996-46 ZA 7.50% 11/25/26		4,945		5,613
•Series 2005-106 QF 0.665% 12/25/35		2,003,043		2,023,899
•Series 2006-40 F 0.455% 5/25/36		193,222		193,707
Freddie Mac REMICs
•Series 3152 JF 0.604% 8/15/35		189,908		191,362
•Series 3311 VF 0.394% 5/15/37		398,856		398,911
•Series 3780 LF 0.554% 3/15/29		38,692		38,760
•Series 3800 AF 0.654% 2/15/41		602,706		607,797
Freddie Mac Structured Agency Credit Risk Debt Notes
•Series 2014-DN1 M1 1.155% 2/25/24		1,676,255		1,662,786
•Series 2014-DN2 M1 1.005% 4/25/24		3,605,593		3,563,739
•GNMA Series 2010-46 MF 0.554% 5/16/34		475,780		479,030

Total Agency Collateralized Mortgage Obligations (Cost $12,729,938)				12,667,112

CONVERTIBLE BONDS–0.24%
#Campus Crest Communities Operating Partnership 144A 4.75% exercise price $12.56, expiration date 10/11/18		207,000		197,167
Chesapeake Energy 2.50%exercise price $47.77, expiration date 5/15/37		21,000		21,276
#Ciena 144A 3.75% exercise price $20.17, expiration date 10/15/18		23,000		26,910
#Energy XXI Bermuda 144A 3.00% exercise price $40.40, expiration date 12/13/18		206,000		169,177
fGeneral Cable 4.50% exercise price $35.33, expiration date 11/15/29		83,000		57,996
Jefferies Group 3.875% exercise price $45.19, expiration date 10/31/29		175,000		185,719


	Principal Amount°		Value (U.S. $)

CONVERTIBLE BONDS (continued)
#Liberty Interactive 144A 1.00% exercise price $74.31, expiration date 9/28/43		38,000	$	39,093
fMeritor 4.00% exercise price $26.73, expiration date 2/12/27		550,000		567,187
MGM Resorts International 4.25% exercise price $18.58, expiration date 4/10/15		150,000		189,281
Mylan 3.75% exercise price $13.32, expiration date 9/15/15		42,000		143,693
Nuance Communications 2.75% exercise price $32.30, expiration date 11/1/31		323,000		320,174
NuVasive 2.75% exercise price $42.13, expiration date 6/30/17		200,000		223,000
SanDisk 1.50% exercise price $51.53, expiration date 8/11/17		199,000		383,697
Spirit Realty Capital 3.75% exercise price $13.10, expiration date 5/13/21		184,000		178,941
#TPG Specialty Lending 144A 4.50% exercise price $25.83, expiration date 12/15/19		76,000		73,863
#Vantage Drilling 144A 5.50% exercise price $2.39, expiration date 7/15/43		126,000		123,401

Total Convertible Bonds (Cost $2,642,845)				2,900,575


	Number of Shares

CONVERTIBLE PREFERRED STOCK–0.02%
ArcelorMittal 6.00% exercise price $20.36, expiration date 12/21/15		1,875		40,225
#Chesapeake Energy 144A 5.75% exercise price $26.14, expiration date 12/31/49		87		96,733
Intelsat 5.75% exercise price $22.05, expiration date 5/1/16		1,623		77,060
Maiden Holdings 7.25% exercise price $15.47, expiration date 9/15/16		850		37,961
MetLife 5.00% exercise price $44.27, expiration date 10/8/14		100		3,079
SandRidge Energy 8.50% exercise price $8.01, expiration date 12/31/49		520		49,465

Total Convertible Preferred Stock (Cost $329,959)				304,523


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS–75.47%
Aerospace & Defense–1.07%
•Boeing 0.249% 11/3/14		1,900,000	$	1,900,110
•Rockwell Collins 0.584% 12/15/16		7,610,000		7,609,247
•United Technologies 0.734% 6/1/15		3,250,000		3,260,777


				12,770,134

Air Freight & Logistics–0.10%
#Aviation Capital Group 144A 6.75% 4/6/21		1,095,000		1,248,300


				1,248,300

Airlines–0.17%
¿American Airlines 2014-1 Class A Pass Through Trust 3.70% 10/1/26		645,000		647,419
¿United Airlines 2014-1 Class A Pass Through Trust 4.00% 4/11/26		495,000		497,475
¿United Airlines 2014-2 Class A Pass Through Trust 3.75% 9/3/26		885,000		896,063


				2,040,957

Auto Components–0.51%
Delphi
4.15% 3/15/24		1,645,000		1,681,320
6.125% 5/15/21		1,200,000		1,320,000
#TRW Automotive 144A 4.45% 12/1/23		3,060,000		3,098,250


				6,099,570

Automobiles–2.79%
Daimler Finance North America
#•144A 0.58% 8/1/17		6,340,000		6,342,637
#•144A 0.584% 3/10/17		5,400,000		5,404,520
General Motors 3.50% 10/2/18		865,000		883,381
#Hyundai Capital America 144A 2.55% 2/6/19		350,000		353,115
•PACCAR Financial 0.833% 12/6/18		5,850,000		5,913,964
Toyota Motor Credit 2.00% 10/24/18		5,700,000		5,713,726
#•Volkswagen International Finance 144A 0.671% 11/18/16		8,755,000		8,800,403


				33,411,746

Beverages–3.09%
•Anheuser-Busch InBev Finance 0.64% 2/1/19		9,060,000		9,061,957
•Coca-Cola 0.34% 11/1/16		5,000,000		5,008,825


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Beverages (continued)
Constellation Brands 4.25% 5/1/23		230,000	$	225,113
PepsiCo
•0.445% 2/26/16		4,925,000		4,936,510
4.50% 1/15/20		2,000,000		2,214,206
Pernod-Ricard
#144A 2.95% 1/15/17		5,450,000		5,621,441
#144A 4.25% 7/15/22		1,300,000		1,356,606
#144A 5.75% 4/7/21		1,725,000		1,967,245
#•SABMiller Holdings 144A 0.93% 8/1/18		6,520,000		6,575,537


				36,967,440

Biotechnology–0.78%
Amgen 4.10% 6/15/21		505,000		537,880
Celgene
3.25% 8/15/22		1,670,000		1,661,603
3.625% 5/15/24		4,500,000		4,460,976
Genzyme 3.625% 6/15/15		700,000		716,015
Gilead Sciences 3.70% 4/1/24		1,945,000		1,990,575


				9,367,049

Capital Markets–1.65%
Bank of New York Mellon
•0.715% 9/11/19		6,470,000		6,487,217
•1.085% 11/24/14		500,000		500,765
•Goldman Sachs Group 1.436% 4/30/18		2,290,000		2,342,084
Jefferies Group 5.125% 1/20/23		1,695,000		1,804,663
Lazard Group
4.25% 11/14/20		1,805,000		1,889,519
6.85% 6/15/17		915,000		1,031,587
Morgan Stanley
•1.485% 2/25/16		2,370,000		2,402,938
•1.514% 4/25/18		3,265,000		3,359,760


				19,818,533

Chemicals–0.92%
Braskem Finance 6.45% 2/3/24		1,180,000		1,230,150
Celanese US Holdings 4.625% 11/15/22		1,235,000		1,216,475
CF Industries
6.875% 5/1/18		1,240,000		1,437,275
7.125% 5/1/20		500,000		603,901
Dow Chemical
3.50% 10/1/24		3,020,000		2,951,848
8.55% 5/15/19		475,000		597,586
#OCP 144A 5.625% 4/25/24		2,355,000		2,455,559
Rockwood Specialties Group 4.625% 10/15/20		560,000		580,300


				11,073,094


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Banks–10.37%
•Abbey National Treasury Services 0.744% 3/13/17		2,500,000	$	2,506,943
#•Australia & New Zealand Banking Group 144A 0.614% 1/10/17		7,750,000		7,778,861
#Banco de Costa Rica 144A 5.25% 8/12/18		810,000		828,225
#•Banco Santander Mexico Institucion de Banca Multiple Grupo Financiero Santand 144A 5.95% 1/30/24		810,000		856,575
BanColombia 5.95% 6/3/21		555,000		611,887
Bank of America
4.20% 8/26/24		2,430,000		2,411,887
•6.25% 9/29/49		2,735,000		2,730,725
#Bank of Georgia 144A 7.75% 7/5/17		200,000		214,352
•Bank of Montreal 0.754% 7/15/16		4,320,000		4,346,520
Bank of Nova Scotia
•0.634% 3/15/16		2,100,000		2,107,927
•0.754% 7/15/16		4,860,000		4,891,575
Barclays Bank
4.375% 9/11/24		2,820,000		2,737,459
7.625% 11/21/22		600,000		645,900
•BB&T 1.094% 6/15/18		3,635,000		3,702,389
BBVA Bancomer
#144A 6.50% 3/10/21		785,000		859,575
#144A 7.25% 4/22/20		235,000		267,195
Branch Banking & Trust
•0.535% 5/23/17		2,575,000		2,559,102
•0.554% 9/13/16		1,755,000		1,752,710
3.80% 10/30/26		2,080,000		2,075,366
#•CoBank 144A 0.834% 6/15/22		425,000		382,925
Credit Suisse 3.625% 9/9/24		255,000		251,897
#144A 6.50% 8/8/23		945,000		1,030,097
#Export-Import Bank of China 144A 2.50% 7/31/19		2,545,000		2,522,306
•Export-Import Bank of Korea 0.984% 1/14/17		5,000,000		5,033,355
•Fifth Third Bank 0.645% 2/26/16		6,390,000		6,408,563
#HBOS 144A 6.75% 5/21/18		3,295,000		3,733,235
#•HSBC Bank 144A 0.874% 5/15/18		2,800,000		2,826,634
HSBC Holdings
•5.625% 12/29/49		830,000		825,227
•6.375% 12/29/49		1,085,000		1,085,000
ING Bank
#•144A 1.874% 9/25/15		1,500,000		1,522,779
#144A 5.80% 9/25/23		2,090,000		2,306,240


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
JPMorgan Chase 3.875% 9/10/24		1,740,000	$	1,707,885
#Magyar Export-Import Bank Zrt 144A 4.00% 1/30/20		335,000		333,074
Morgan Stanley 4.35% 9/8/26		2,195,000		2,162,251
•National City Bank 0.603% 6/7/17		3,360,000		3,349,265
#•Oversea-Chinese Banking 144A 4.00% 10/15/24		1,910,000		1,931,646
#•PNC Preferred Funding Trust II 144A 1.457% 3/31/49		6,200,000		6,021,750
Rabobank 4.625% 12/1/23		1,000,000		1,037,945
Royal Bank of Canada
•0.603% 3/8/16		1,755,000		1,760,897
•0.692% 9/9/16		2,490,000		2,507,144
•0.936% 10/30/14		2,100,000		2,101,140
Santander Holdings USA 3.45% 8/27/18		940,000		980,945
#Santander UK 144A 5.00% 11/7/23		2,790,000		2,932,496
#Siam Commercial Bank 144A 3.50% 4/7/19		995,000		1,016,891
•SunTrust Bank 0.525% 8/24/15		1,415,000		1,414,010
SVB Financial Group 5.375% 9/15/20		310,000		347,672
•Svenska Handelsbanken 0.683% 3/21/16		1,385,000		1,391,310
•Toronto-Dominion Bank 0.786% 4/30/18		2,800,000		2,824,366
•Union Bank 0.985% 9/26/16		5,000,000		5,045,955
•USB Capital IX 3.50% 10/29/49		465,000		397,575
Wells Fargo
•0.764% 7/20/16		5,500,000		5,534,095
4.10% 6/3/26		5,020,000		5,009,257
•5.90% 12/29/49		1,090,000		1,113,163
Woori Bank
#144A 2.875% 10/2/18		285,000		290,721
#144A 4.75% 4/30/24		1,130,000		1,145,115


				124,169,999

Commercial Services & Supplies–0.39%
•Avis Budget Car Rental 2.984% 12/1/17		2,010,000		2,002,463
•International Lease Finance 2.184% 6/15/16		2,725,000		2,707,969


				4,710,432

Communications Equipment–1.05%
Communications Equipment–1.05%
•Cisco Systems 0.734% 3/1/19		12,480,000		12,585,968


				12,585,968

Computers & Peripherals–1.44%
Apple 0.537% 5/6/19		14,990,000		15,020,534


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Computers & Peripherals (continued)
#Seagate HDD Cayman 144A 4.75% 1/1/25		2,205,000	$	2,205,000


				17,225,534

Construction & Engineering–0.15%
#OAS Finance 144A 8.00% 7/2/21		450,000		433,125
#Odebrecht Offshore Drilling Finance 144A 6.625% 10/1/22		941,937		974,904
URS
3.85% 4/1/17		160,000		165,236
5.00% 4/1/22		200,000		203,010


				1,776,275

Construction Materials–0.26%
#•Cemex 144A 4.984% 10/15/18		2,965,000		3,150,313


				3,150,313

Consumer Finance–2.53%
•Bank of America 0.703% 11/14/16		6,025,000		6,033,248
•Caterpillar Financial Services 0.475% 2/26/16		4,420,000		4,433,618
•John Deere Capital 0.524% 10/11/16		8,050,000		8,083,279
•Toyota Motor Credit 0.521% 5/17/16		3,300,000		3,313,193
•US Bancorp 0.724% 11/15/18		8,340,000		8,413,050


				30,276,388

Containers & Packaging–0.34%
Beverage Packaging Holdings Luxembourg II
#144A 5.625% 12/15/16		1,000,000		995,000
#144A 6.00% 6/15/17		1,000,000		987,500
Rock Tenn
3.50% 3/1/20		1,410,000		1,435,288
4.00% 3/1/23		680,000		691,489


				4,109,277

Diversified Financial Services–6.17%
#•American Honda Finance 144A 0.61% 5/26/16		8,070,000		8,111,544
Bank of America
•0.494% 10/14/16		1,350,000		1,348,515
•1.274% 1/15/19		4,750,000		4,822,765
Credit Suisse Group
#•144A 6.25% 12/29/49		1,190,000		1,154,895
#•144A 7.50% 12/11/49		795,000		836,737
ERAC USA Finance
#144A 4.50% 8/16/21		2,650,000		2,873,989
#144A 5.25% 10/1/20		730,000		823,947
General Electric Capital
•0.618% 5/5/26		2,000,000		1,911,626


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Financial Services (continued)
General Electric Capital (continued)
•0.744% 1/14/19		5,450,000	$	5,492,624
•1.234% 3/15/23		2,450,000		2,464,808
3.45% 5/15/24		140,000		140,582
#144A 3.80% 6/18/19		250,000		266,567
6.00% 8/7/19		1,470,000		1,716,260
•7.125% 12/15/49		2,400,000		2,782,207
General Motors Financial
3.00% 9/25/17		935,000		945,519
4.375% 9/25/21		955,000		977,681
#Hyundai Capital America 144A 4.00% 6/8/17		890,000		940,419
#•Hyundai Capital Services 144A 1.034% 3/18/17		2,895,000		2,907,281
•JPMorgan Chase 6.75% 8/29/49		2,935,000		3,097,893
•JPMorgan Chase Bank 0.564% 6/13/16		7,955,000		7,955,024
•Lloyds Banking Group 7.50% 4/30/49		2,600,000		2,684,500
•Morgan Stanley 1.083% 1/24/19		4,235,000		4,287,878
National Rural Utilities Cooperative Finance
•0.485% 5/27/16		9,925,000		9,942,686
•4.75% 4/30/43		2,790,000		2,765,587
Royal Bank of Scotland Group 5.125% 5/28/24		1,155,000		1,136,992
#•USB Realty 144A 1.381% 12/22/49		1,600,000		1,486,000


				73,874,526

Diversified Telecommunication Services–2.92%
AT&T
•0.905% 3/11/19		6,200,000		6,252,836
•1.148% 11/27/18		4,655,000		4,741,541
#Brasil Telecom 144A 5.75% 2/10/22		380,000		359,138
CenturyLink 5.80% 3/15/22		1,395,000		1,436,850
#Digicel Group 144A 8.25% 9/30/20		2,020,000		2,090,902
#SBA Tower Trust 144A 2.24% 4/15/18		465,000		459,120
#SES 144A 3.60% 4/4/23		3,790,000		3,829,939
Telefonica Emisiones SAU 4.57% 4/27/23		3,390,000		3,545,733
#Telemar Norte Leste 144A 5.50% 10/23/20		215,000		210,980
Verizon Communications
•1.984% 9/14/18		9,005,000		9,495,079
2.00% 11/1/16		1,255,000		1,275,336
5.15% 9/15/23		935,000		1,036,141
#Virgin Media Finance 144A 6.375% 4/15/23		205,000		212,687


				34,946,282


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Electric Utilities–5.75%
#American Transmission Systems 144A 5.25% 1/15/22		2,170,000	$	2,407,342
Berkshire Hathaway Energy 3.75% 11/15/23		1,525,000		1,567,368
Cleveland Electric Illuminating 5.50% 8/15/24		1,825,000		2,105,364
Commonwealth Edison 2.15% 1/15/19		4,500,000		4,524,426
•Duke Energy Indiana 0.584% 7/11/16		5,695,000		5,720,696
•Duke Energy Ohio 0.373% 3/6/15		3,235,000		3,237,248
Electricite de France
#•144A 0.694% 1/20/17		5,465,000		5,479,160
#•144A 5.25% 12/29/49		4,410,000		4,492,687
#•Enel 144A 8.75% 9/24/73		2,808,000		3,267,950
Entergy Louisiana 4.05% 9/1/23		3,955,000		4,231,894
Entergy Mississippi 3.10% 7/1/23		250,000		246,918
•Georgia Power 0.554% 3/15/16		5,400,000		5,402,435
Great Plains Energy
4.85% 6/1/21		3,255,000		3,590,623
5.292% 6/15/22		1,065,000		1,213,381
ITC Holdings 3.65% 6/15/24		1,800,000		1,798,049
LG&E & KU Energy
3.75% 11/15/20		1,125,000		1,170,341
4.375% 10/1/21		700,000		754,237
#Metropolitan Edison 144A 4.00% 4/15/25		1,995,000		1,999,958
NextEra Energy Capital Holdings
2.70% 9/15/19		3,255,000		3,293,197
3.625% 6/15/23		375,000		380,373
•NSTAR Electric 0.471% 5/17/16		1,750,000		1,749,368
NV Energy 6.25% 11/15/20		800,000		942,046
Pennsylvania Electric 5.20% 4/1/20		500,000		553,180
Public Service of New Hampshire 3.50% 11/1/23		790,000		816,557
Southern California Edison 0.285% 10/1/14		5,000,000		5,000,000
State Grid Overseas Investment 2014
#144A 2.75% 5/7/19		2,535,000		2,542,995
#144A 4.125% 5/7/24		355,000		364,689


				68,852,482

Energy Equipment & Services–0.11%
Noble Holding International 3.05% 3/1/16		1,300,000		1,336,565


				1,336,565


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Food Products–1.56%
General Mills
•0.435% 1/28/16		4,245,000	$	4,246,409
•0.534% 1/29/16		1,730,000		1,732,709
Ingredion 1.80% 9/25/17		1,500,000		1,507,215
#JBS Investments 144A 7.75% 10/28/20		1,110,000		1,184,925
Kraft Foods Group
3.50% 6/6/22		710,000		719,883
5.375% 2/10/20		445,000		501,981
#Minerva Luxembourg 144A 7.75% 1/31/23		515,000		525,557
•Mondelez International 0.76% 2/1/19		5,725,000		5,728,675
Sysco
3.50% 10/2/24		1,040,000		1,044,996
4.35% 10/2/34		1,515,000		1,542,072


				18,734,422

Health Care Equipment & Supplies–0.68%
Boston Scientific 6.00% 1/15/20		465,000		530,765
CareFusion 6.375% 8/1/19		1,615,000		1,864,863
•Medtronic 0.328% 2/27/17		5,700,000		5,697,914

				8,093,542

Health Care Providers & Services–0.71%
McKesson
•0.634% 9/10/15		6,000,000		6,009,294
3.796% 3/15/24		1,755,000		1,773,148
Quest Diagnostics 2.70% 4/1/19		750,000		754,534

				8,536,976

Hotels, Restaurants & Leisure–0.65%
Carnival 1.20% 2/5/16		1,445,000		1,450,081
International Game Technology 5.35% 10/15/23		2,020,000		2,081,008
Marriott International 3.375% 10/15/20		760,000		780,879
Starwood Hotels & Resorts Worldwide 3.75% 3/15/25		1,635,000		1,614,396
Wyndham Worldwide 4.25% 3/1/22		1,845,000		1,870,876

				7,797,240

Independent Power Producers & Energy Traders–0.10%
Exelon Generation 4.00% 10/1/20		1,150,000		1,212,896

				1,212,896

Insurance–3.85%
American International Group 8.25% 8/15/18		3,500,000		4,278,733
Berkshire Hathaway Finance
0.384% 1/10/17		6,460,000		6,463,656


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Insurance (continued)
Berkshire Hathaway Finance (continued)
2.90% 10/15/20		7,100,000	$	7,226,991
•Chubb 6.375% 3/29/67		1,045,000		1,150,806
•ING US 5.65% 5/15/53		735,000		742,350
#Liberty Mutual Group 144A 4.25% 6/15/23		2,070,000		2,119,417
#•Metropolitan Life Global Funding I 144A 0.764% 7/15/16		6,500,000		6,554,977
#•Pricoa Global Funding I 144A 0.502% 8/19/15		2,000,000		2,004,012
#•Principal Life Global Funding II 144A 0.608% 5/27/16		3,170,000		3,183,999
Prudential Financial
•1.014% 8/15/18		8,742,000		8,830,460
•5.625% 6/15/43		630,000		659,736
•5.875% 9/15/42		565,000		601,725
Teachers Insurance & Annuity Association of America
#•144A 4.375% 9/15/54		590,000		595,770
#144A 4.90% 9/15/44		1,150,000		1,176,621
•XL Group 6.50% 12/31/49		530,000		514,100


				46,103,353

Internet Software & Services–0.36%
Baidu
2.75% 6/9/19		1,000,000		995,136
3.25% 8/6/18		1,445,000		1,490,439
Expedia 4.50% 8/15/24		975,000		968,227
#Tencent Holdings 144A 3.375% 5/2/19		860,000		870,214


				4,324,016

IT Services–1.10%
International Business Machines
•0.605% 2/12/19		9,585,000		9,665,639
1.25% 2/6/17		2,885,000		2,896,381
1.625% 5/15/20		690,000		661,773


				13,223,793

Machinery–0.52%
Crane
2.75% 12/15/18		355,000		361,689
4.45% 12/15/23		1,460,000		1,533,361
#Honghua Group 144A 7.45% 9/25/19		450,000		442,125
Ingersoll-Rand Global Holding 4.25% 6/15/23		2,495,000		2,621,237
Trinity Industries 4.55% 10/1/24		1,235,000		1,239,628


				6,198,040

Marine–0.35%
AP Moeller - Maersk
#144A 2.55% 9/22/19		690,000		692,471


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Marine (continued)
AP Moeller - Maersk (continued)
#144A 3.75% 9/22/24		3,500,000	$	3,516,541

				4,209,012

Media–2.79%
#British Sky Broadcasting Group 144A 3.75% 9/16/24		4,180,000		4,178,980
CC Holdings GS V 3.849% 4/15/23		120,000		118,249
#Columbus International 144A 7.375% 3/30/21		2,245,000		2,343,219
DIRECTV Holdings 4.45% 4/1/24		3,835,000		4,001,711
Historic TW 6.875% 6/15/18		430,000		502,661
#•NBCUniversal Enterprise 144A 0.919% 4/15/18		10,385,000		10,498,539
NBCUniversal Media 5.15% 4/30/20		450,000		511,546
#Sirius XM Radio 144A 4.625% 5/15/23		865,000		808,775
Time Warner 3.55% 6/1/24		5,650,000		5,580,211
Time Warner Cable
4.00% 9/1/21		1,030,000		1,085,419
8.25% 4/1/19		3,015,000		3,758,743


				33,388,053

Metals & Mining–0.69%
ArcelorMittal 10.35% 6/1/19		415,000		507,856
BHP Billiton Finance USA 3.25% 11/21/21		155,000		158,442
#FMG Resources August 2006 144A 6.875% 4/1/22		1,065,000		1,087,631
#Gerdau Holdings 144A 7.00% 1/20/20		935,000		1,056,550
#Metalloinvest Finance 144A 5.625% 4/17/20		1,040,000		952,900
#MMC Norilsk Nickel OJSC via MMC Finance 144A 5.55% 10/28/20		418,000		416,955
•Rio Tinto Finance USA 1.075% 6/17/16		1,975,000		1,994,420
#Tupy Overseas 144A 6.625% 7/17/24		1,005,000		1,027,613
#Yamana Gold 144A 4.95% 7/15/24		1,105,000		1,102,105


				8,304,472

Multi-Utilities–1.13%
Ameren Illinois 9.75% 11/15/18		385,000		498,210
American Water Capital 3.40% 3/1/25		1,095,000		1,092,783
CenterPoint Energy 6.50% 5/1/18		850,000		980,871


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Multi-Utilities (continued)
•Integrys Energy Group 6.11% 12/1/66		870,000	$	887,671
•Laclede Group 0.982% 8/15/17		5,900,000		5,902,454
NiSource Finance 5.45% 9/15/20		570,000		642,729
SCANA 4.125% 2/1/22		1,080,000		1,115,995
Sempra Energy 2.875% 10/1/22		495,000		483,635
#Transelec 144A 4.25% 1/14/25		990,000		984,977
•Wisconsin Energy 6.25% 5/15/67		856,000		886,492


				13,475,817

Oil, Gas & Consumable Fuels–8.10%
Anadarko Petroleum 3.45% 7/15/24		1,155,000		1,136,759
BP Capital Markets
•0.657% 11/7/16		2,985,000		2,990,907
•0.773% 5/10/19		8,925,000		8,959,290
•Chesapeake Energy 3.484% 4/15/19		3,250,000		3,266,250
Cimarex Energy 4.375% 6/1/24		920,000		929,200
#CNOOC Finance 2012 144A 3.875% 5/2/22		360,000		361,218
CNOOC Nexen Finance 2014 4.25% 4/30/24		1,800,000		1,827,891
Continental Resources 4.50% 4/15/23		3,590,000		3,725,149
El Paso Pipeline Partners Operating 4.30% 5/1/24		3,195,000		3,190,048
•Enbridge Energy Partners 8.05% 10/1/37		855,000		966,150
Ensco 4.50% 10/1/24		4,380,000		4,403,529
•Enterprise Products Operating 7.034% 1/15/68		995,000		1,125,185
#KazMunayGas National JSC 144A 9.125% 7/2/18		750,000		880,313
Kinder Morgan Energy Partners 6.00% 2/1/17		775,000		852,053
Newfield Exploration 5.625% 7/1/24		430,000		462,250
#Oleoducto Central 144A 4.00% 5/7/21		1,515,000		1,517,576
ONGC Videsh 2.50% 5/7/18		760,000		753,342
Pacific Rubiales Energy
#144A 5.375% 1/26/19		1,045,000		1,063,288
#144A 7.25% 12/12/21		610,000		666,425
#Pertamina Persero 144A 4.875% 5/3/22		555,000		556,943
Petrobras Global Finance
•2.374% 1/15/19		2,540,000		2,545,588
4.875% 3/17/20		1,230,000		1,249,317


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Plains All American Pipeline 5.00% 2/1/21		640,000	$	710,607
Plains Exploration & Production 6.50% 11/15/20		428,000		469,781
#•PTT Exploration & Production 144A 4.875% 12/29/49		1,860,000		1,883,250
•Shell International Finance BV 0.444% 11/15/16		10,425,000		10,461,352
Statoil
•0.524% 5/15/18		4,870,000		4,874,617
•0.694% 11/8/18		7,240,000		7,297,254
Sunoco Logistics Partners Operations 3.45% 1/15/23		4,155,000		4,037,110
Total Capital International
•0.584% 6/19/19		1,220,000		1,221,974
•0.803% 8/10/18		8,620,000		8,710,665
TransCanada PipeLines
•0.913% 6/30/16		7,732,000		7,798,379
•6.35% 5/15/67		1,285,000		1,329,975
Williams 4.55% 6/24/24		1,075,000		1,065,537
Williams Partners 7.25% 2/1/17		575,000		647,882
#Woodside Finance 144A 8.75% 3/1/19		1,290,000		1,613,625
•YPF 7.734% 8/15/18		1,411,765		1,418,824


				96,969,503

Paper & Forest Products–0.21%
Fibria Overseas Finance 5.25% 5/12/24		975,000		964,031
Georgia-Pacific 8.00% 1/15/24		1,125,000		1,509,131


				2,473,162

Pharmaceuticals–3.40%
Allergan 1.35% 3/15/18		4,500,000		4,370,981
Express Scripts Holding
2.25% 6/15/19		1,055,000		1,041,372
3.50% 6/15/24		2,445,000		2,398,924
#Forest Laboratories 144A 4.375% 2/1/19		1,350,000		1,422,357
•Merck 0.591% 5/18/18		9,495,000		9,555,179
#Perrigo 144A 4.00% 11/15/23		2,700,000		2,751,994
•Pfizer 0.534% 6/15/18		11,140,000		11,163,294
Zoetis 1.875% 2/1/18		8,133,000		8,081,754


				40,785,855

Real Estate Investment Trusts–1.35%
Alexandria Real Estate Equities
3.90% 6/15/23		810,000		808,614
4.60% 4/1/22		725,000		762,266
#American Tower Trust I 144A 1.551% 3/15/43		2,505,000		2,466,367
Brandywine Operating Partnership 4.10% 10/1/24		220,000		217,808


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Real Estate Investment Trusts (continued)
CBL & Associates 5.25% 12/1/23		850,000	$	914,274
Corporate Office Properties
3.60% 5/15/23		465,000		445,547
5.25% 2/15/24		1,040,000		1,110,401
Excel Trust 4.625% 5/15/24		710,000		723,092
Healthcare Trust of America Holdings 3.375% 7/15/21		660,000		657,668
Hospitality Properties Trust 4.50% 3/15/25		1,300,000		1,286,849
Host Hotels & Resorts
3.75% 10/15/23		2,660,000		2,635,275
4.75% 3/1/23		140,000		148,827
#WEA Finance 144A 3.75% 9/17/24		2,435,000		2,433,403
Weyerhaeuser 4.625% 9/15/23		1,470,000		1,559,791


				16,170,182

Real Estate Management & Development–0.08%
WP Carey 4.60% 4/1/24		980,000		1,014,922


				1,014,922

Road & Rail–1.63%
Burlington Northern Santa Fe 3.40% 9/1/24		6,105,000		6,032,436
•Canadian National Railway 0.437% 11/6/15		7,580,000		7,590,354
•Kansas City Southern de Mexico 0.935% 10/28/16		4,950,000		4,978,982
Norfolk Southern 3.85% 1/15/24		915,000		948,028


				19,549,800

Semiconductors & Semiconductor Equipment–0.15%
National Semiconductor 6.60% 6/15/17		500,000		570,613
#Samsung Electronics America 144A 1.75% 4/10/17		1,200,000		1,204,295


				1,774,908

Software–1.32%
#MTS International Funding 144A 8.625% 6/22/20		1,665,000		1,773,225
Oracle
•0.742% 10/8/19		13,945,000		14,017,179
3.40% 7/8/24		40,000		39,923


				15,830,327

Specialty Retail–1.06%
•Lowe’s 0.654% 9/10/19		6,755,000		6,772,995
QVC 4.375% 3/15/23		3,325,000		3,323,118
Signet UK Finance 4.70% 6/15/24		1,785,000		1,798,286


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Specialty Retail (continued)
Target 2.30% 6/26/19		770,000	$	771,989


				12,666,388

Wireless Telecommunication Services–1.12%
•America Movil 1.235% 9/12/16		5,030,000		5,088,670
#Bharti Airtel International Netherlands 144A 5.35% 5/20/24		1,550,000		1,659,415
#Crown Castle Towers 144A 4.883% 8/15/20		1,615,000		1,784,084
#ENTEL Chile 144A 4.875% 10/30/24		565,000		580,486
Motorola Solutions 4.00% 9/1/24		1,780,000		1,741,004
#Turk Telekomunikasyon AS 144A 3.75% 6/19/19		1,240,000		1,212,887
•Verizon Communications 0.632% 6/9/17		1,315,000		1,319,015


				13,385,561

Total Corporate Bonds (Cost $895,838,543)				904,033,104


MUNICIPAL BONDS–2.13%
•Missouri Higher Education Loan Authority Student Revenue Class A-1 1.084% 8/27/29		455,478		459,619
•New Mexico Educational Assistance Foundation (Libor Floating) Series A-3 1.434% 12/1/38		580,000		579,988
New York City, New York Series I 5.00% 8/1/22		350,000		419,272
New York State Thruway Authority Series A 5.00% 5/1/19		575,000		667,305
North Texas Higher Education Authority Student Loan Revenue (Libor Floating)
•Series 1 1.335% 4/1/40		506,622		514,982
•Series 1 Class A-2 1.135% 7/1/30		925,000		933,658
Oklahoma Student Loan Authority Revenue (Libor-Indexed)
•Series 1 1.498% 6/1/40		1,447,904		1,457,779
•Series 2010-A Class A2A 1.434% 9/1/37		655,000		668,500
•Pennsylvania Turnpike Commission Series B1 1.01% 12/1/21		5,000,000		5,051,400
•State of California Series D 0.81% 12/1/28		5,000,000		5,062,950
•State of Connecticut Series A 1.58% 3/1/21		1,750,000		1,761,113
State of Maryland Local Facilities Series A 5.00% 8/1/21		415,000		503,519


	Principal Amount°		Value (U.S. $)

MUNICIPAL BONDS (continued)
•University of California Series Y-1 0.652% 7/1/41		7,425,000	$	7,454,403

Total Municipal Bonds (Cost $25,270,656)				25,534,488


NON-AGENCY ASSET-BACKED SECURITIES–8.10%
•Ally Master Owner Trust Series 2013-2 A 0.604% 4/15/18		600,000		600,934
#ARI Fleet Lease Trust Series 2014-A A2 144A 0.81% 11/15/22		3,000,000		3,001,770
#•Avenue Fund Series 2007-6A A1 144A 0.458% 7/17/19		509,159		503,100
•BA Credit Card Trust Series 2014-A1 A 0.534% 6/15/21		4,741,000		4,736,923
#•Babson Series 2005-3A A 144A 0.483% 11/10/19		257,538		256,508
#•Ballyrock CLO 2013-1 144A 1.412% 5/20/25		2,000,000		1,974,800
#•BMW Floorplan Master Owner Trust Series 2012-1A A 144A 0.554% 9/15/17		2,500,000		2,505,703
#•Cabela’s Master Credit Card Trust Series 2012-1A A2 144A 0.684% 2/18/20		3,000,000		3,022,344
Capital One Multi-Asset Execution Trust
•Series 2007-A1 A 1 0.204% 11/15/19		4,979,000		4,954,956
•Series 2007-A2 A2 0.234% 12/16/19		965,000		960,644
•Series 2013-A2 A2 0.334% 2/15/19		1,654,000		1,653,742
•Series 2014-A3 A3 0.534% 1/18/22		500,000		500,523
Chase Issuance Trust
•Series 2007-A5 A5 0.194% 3/15/19		3,000,000		2,990,562
•Series 2012-A9 A9 0.304% 10/16/17		2,000,000		2,001,898
•Series 2013-A3 A3 0.434% 4/15/20		2,150,000		2,148,162
•Series 2013-A9 A 0.574% 11/16/20		1,000,000		1,002,070
Chesapeake Funding
#•Series 2012-2A A 144A 0.603% 5/7/24		2,883,540		2,888,018
#•Series 2014-1A A 144A 0.576% 3/7/26		600,000		599,399
•Citibank Credit Card Issuance Trust Series 2013-A7 A7 0.584% 9/10/20		2,000,000		2,007,728


	Principal Amount°		Value (U.S. $)

NON-AGENCY ASSET-BACKED SECURITIES (continued)
•Discover Card Execution Note Trust Series 2014-A1 A1 0.584% 7/15/21		665,000	$	666,144
•Discover Card Master Trust Series 2013-A1 A1 0.454% 8/17/20		2,000,000		2,000,816
•Ford Credit Floorplan Master Owner Trust Series 2014-1 A2 0.554% 2/15/19		3,250,000		3,254,274
General Electric Dealer Floorplan Master Note Trust
•Series 2012-2 A 0.904% 4/22/19		3,000,000		3,026,670
•Series 2013-1 A 0.554% 4/20/18		1,165,000		1,168,339
Golden Credit Card Trust
#Series 2012-5A A 144A 0.79% 9/15/17		180,000		180,345
#•Series 2013-2A A 144A 0.586% 9/15/18		3,850,000		3,859,906
#•Hertz Fleet Lease Funding Series 2014-1 A 144A 0.554% 4/10/28		500,000		500,199
#•JFIN CLO Series 2014-1A A 144A 1.734% 4/21/25		2,500,000		2,500,000
#•KKR CLO Trust Series 2013-1A A1 144A 1.384% 7/15/25		3,605,000		3,539,749
#•LCM VI Series 6A A 144A 0.468% 5/28/19		671,474		665,947
#•LightPoint CLO V Series 2006-5A A1 144A 0.483% 8/5/19		694,774		690,189
#•MAPS CLO Fund II Series 2007-2A A1 144A 0.474% 7/20/22		3,000,000		2,957,100
#Master Credit Card Trust Series 2012-2A A 144A 0.78% 4/21/17		1,600,000		1,600,723
#•Mountain View CLO III Series 2007-3A A1 144A 0.448% 4/16/21		3,408,610		3,396,339
#•Navistar Financial Dealer Note Master Trust Series 2013-2 A 144A 0.835% 9/25/18		7,000,000		7,016,044
Nissan Master Owner Trust Receivables
•Series 2012-A A 0.624% 5/15/17		1,100,000		1,101,524
•Series 2013-A A 0.454% 2/15/18		1,290,000		1,290,000
#•NYLIM Flatiron Series 2006-1A A2A 144A 0.454% 8/8/20		276,599		275,437
#•OCP CLO Series 2013-4A A1A 144A 1.633% 10/24/25		3,000,000		2,987,400
#•PFS Financing Series 2013-AA A 144A 0.704% 2/15/18		1,900,000		1,899,046


	Principal Amount°		Value (U.S. $)

NON-AGENCY ASSET-BACKED SECURITIES (continued)
#•Sudbury Mill CLO Series 2013-1A X 144A 1.233% 1/17/26		1,064,615	$	1,064,615
#•Telos CLO Series 2013-4A A 144A 1.533% 7/17/24		3,000,000		2,976,000
#•Telos CLO 2013-4 Series 2013-4A X 144A 1.183% 7/17/24		1,350,000		1,349,595
#•Trade MAPS 1 Series 2013-1A A 144A 0.854% 12/10/18		2,000,000		2,005,412
#•Trafigura Securitisation Finance Series 2012-1A A 144A 2.554% 10/15/15		3,705,000		3,720,341
#•Venture XVI CLO Series 2014-16A A1L 144A 1.868% 4/15/26		3,000,000		3,001,500

Total Non-Agency Asset-Backed Securities (Cost $96,827,160)				97,003,438


«SENIOR SECURED LOANS–10.75%
Activision Blizzard Tranche B 1st Lien 3.25% 9/12/20		2,440,800		2,437,603
Allegion US Holding Tranche B 3.00% 12/26/20		2,977,500		2,966,334
Ashland Water 1st Lien 4.25% 7/2/21		735,000		723,240
Ashland Water 2nd Lien 7.75% 7/2/22		590,000		575,250
Calpine Construction Finance Tranche B 3.00% 5/1/20		3,122,812		3,027,567
Charter Communications Operating 3.00% 4/10/20		3,895,688		3,787,154
Charter Communications Tranche B 1st Lien 4.25% 8/12/21		2,000,000		1,997,610
Chrysler Group Tranche B 1st Lien
3.25% 12/29/18		4,378,000		4,308,237
3.50% 5/24/17		123,092		122,284
Clear Channel Communications Tranche B 3.65% 1/29/16		1,695,531		1,682,611
Community Health Systems Tranche D 4.25% 1/27/21		1,339,280		1,337,010
Community Health Systems Tranche E 3.25% 1/25/17		203,085		202,324


	Principal Amount°		Value (U.S. $)

«SENIOR SECURED LOANS (continued)
Crown Castle Operating Tranche B2 3.00% 1/31/21		1,984,698	$	1,962,926
CSC Holdings Tranche B 2.50% 4/9/20		1,708,397		1,663,022
DaVita Healthcare Partners Tranche B 3.50% 6/19/21		8,578,500		8,496,490
Delta Air Lines Tranche B 1st Lien 3.25% 4/20/17		869,856		860,940
Dynegy Tranche B2 4.00% 4/23/20		740,625		736,115
Emdeon 1st Lien 3.75% 11/2/18		1,366,572		1,353,330
Energy Transfer Equity 1st Lien 3.25% 12/2/19		1,000,000		977,080
Exgen Texas Power Tranche B 1st Lien 5.75% 9/16/21		2,000,000		1,985,000
First Data Tranche B 1st Lien 4.00% 3/24/21		2,590,209		2,558,647
Flying Fortress 1st Lien 3.50% 6/30/17		1,000,000		991,880
Gardner Denver 1st Lien 4.25% 7/23/20		990,000		972,135
HD Supply Tranche B 4.00% 6/28/18		2,068,027		2,048,639
Hilton Worldwide Finance Tranche B2 3.50% 9/23/20		2,789,474		2,749,947
Houghton International 1st Lien 4.00% 12/10/19		1,242,887		1,232,012
Huntsman International Tranche B 3.75% 10/11/20		3,000,000		2,973,750
IASIS Healthcare Tranche B 1st Lien 4.50% 5/3/18		1,031,660		1,029,834
Immucor Tranche B2 5.00% 8/19/18		446,318		444,086
Ineos Tranche B 1st Lien 2.00% 5/4/15		485,575		486,990
Ineos US Finance Tranche B 3.75% 5/4/18		2,237,344		2,195,551
Intelsat Jackson Holdings Tranche B2 3.75% 6/30/19		2,937,881		2,896,384
Kinetic Concepts Tranche E1 4.00% 5/8/18		1,977,536		1,954,675
Landry’s Tranche B 4.00% 4/24/18		1,170,198		1,162,574


	Principal Amount°		Value (U.S. $)

«SENIOR SECURED LOANS (continued)
Las Vegas Sands Tranche B 3.25% 12/16/20		3,970,000	$	3,949,773
Level 3 Financing Tranche B 4.00% 1/15/20		2,665,000		2,621,361
Lightower Fiber Networks 4.00% 4/1/20		277,889		273,721
MGM Resorts International 3.50% 12/20/19		1,728,015		1,700,479
Mission Broadcasting Tranche B2 1st Lien 3.75% 10/1/20		1,789,270		1,755,721
Nexstar Broadcasting Tranche B2 3.75% 9/24/20		2,029,061		1,991,016
Novelis Tranche B 3.75% 3/10/17		198,021		196,041
NRG Energy Tranche B 2.75% 7/1/18		626,125		615,203
Nuveen Investments 1st Lien 4.00% 5/13/17		3,325,000		3,321,126
Nuveen Investments 2nd Lien 6.50% 2/28/19		1,155,000		1,160,342
OSI Restaurants Tranche B 1st Lien 3.50% 10/26/19		137,250		137,064
Penn National Gaming Tranche B 3.25% 10/25/20		1,488,750		1,478,202
PQ 1st Lien 4.00% 8/7/17		992,424		982,679
PVH Tranche B 1st Lien 3.25% 2/13/20		1,169,735		1,172,782
Reynolds & Reynolds Tranche B 2.00% 4/21/16		783,014		782,035
Rite Aid 2nd Lien 4.875% 6/13/21		750,000		747,656
Royalty Pharma Tranche B2 1st Lien 3.25% 5/9/18		2,444,197		2,446,103
Samson Investment 2nd Lien 5.00% 9/25/18		815,000		789,531
Scientific Games International 4.25% 5/22/20		1,573,113		1,545,591
Seminole Tribe of Florida Tranche B 3.00% 4/11/20		4,450,422		4,427,480
Sinclair Broadcasting Tranche B1 1st Lien 3.50% 7/22/21		7,500,000		7,410,937
Smart & Final Tranche B 1st Lien 4.75% 11/15/19		1,676,832		1,675,792


	Principal Amount°		Value (U.S. $)

«SENIOR SECURED LOANS (continued)
Sprouts Farmers 4.00% 4/12/20		720,511	$	717,658
Stena 1st Lien 4.00% 2/21/21		1,990,000		1,945,225
TransDigm Tranche C 3.75% 2/7/20		3,106,723		3,059,346
United Continental Tranche B 3.50% 4/1/19		354,600		348,949
Univision Communications Tranche C4 4.00% 3/1/20		1,423,001		1,398,547
Univision Communications 1st Lien 4.00% 3/1/20		1,075,502		1,056,390
US Airways Tranche B1 3.50% 5/23/19		990,000		968,037
USI Insurance Services Tranche B 1st Lien 4.25% 12/3/18		1,626,162		1,599,737
Valeant Pharmaceuticals Tranche BE 3.75% 8/5/20		1,035,056		1,024,446
Valeant Pharmaceuticals Tranche B Series C 3.75% 12/11/19		3,197,975		3,165,996
W.R. Grace Tranche B 1st Lien 3.00% 1/23/21		2,365,536		2,351,343
Wide Open West Finance 4.75% 3/27/19		1,497,200		1,494,700
Windstream Tranche B4 3.50% 1/8/20		491,250		486,337
Windstream Tranche B5 1st Lien 3.50% 8/8/19		1,078,103		1,077,144
Zayo Group Tranche B 1st Lien 4.00% 7/2/19		230,291		227,398
Ziggo Tranche B 2nd Lien 3.50% 1/15/22		714,894		695,906
Ziggo Tranche B1 1st Lien 3.50% 1/15/22		1,109,362		1,079,897

Total Senior Secured Loans (Cost $129,945,112)				128,776,922


	Principal Amount°		Value (U.S. $)

DSOVEREIGN BONDS–0.80%
Colombia–0.06%
•Colombia Government International Bond 2.031% 11/16/15		760,000	$	767,007


				767,007

Guatemala–0.03%
#Republic of Guatemala 144A 5.75% 6/6/22		300,000		332,250


				332,250

Iceland–0.08%
#Republic of Iceland 144A 5.875% 5/11/22		790,000		891,259

				891,259

Kenya–0.09%
#Kenya Government International Bond 144A 5.875% 6/24/19		1,005,000		1,036,406

				1,036,406

Norway–0.54%
#•Kommunalbanken
144A 0.255% 1/26/15		2,000,000		2,000,404
144A 0.367% 10/31/16		3,000,000		3,003,165
144A 0.412% 2/20/18		1,500,000		1,503,273

				6,506,842

Total Sovereign Bonds (Cost $9,411,430)				9,533,764


U.S. TREASURY OBLIGATION–0.01%
U.S. Treasury Notes 1.75% 9/30/19		85,000		84,890

Total U.S. Treasury Obligation (Cost $84,788)				84,890


	Number of Shares

PREFERRED STOCK–0.27%
•Integrys Energy Group 6.00%		49,900		1,279,436
National Retail Properties 5.70%		15,325		365,501
Public Storage 5.20%		10,200		230,316
Qwest 6.125%		18,550		430,731
•Regions Financial 6.375%		35,200		893,376

Total Preferred Stock (Cost $3,229,375)				3,199,360

The use of swap contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–69.49%
U.S. MARKETS–42.87%
Aerospace & Defense–1.35%
Boeing		1,350	$	171,963
†Esterline Technologies		1,725		191,941
Honeywell International		2,365		220,229
†KEYW Holding		9,340		103,394
Lockheed Martin		1,450		265,031
Northrop Grumman		7,600		1,001,376
Raytheon		10,000		1,016,200
Rockwell Collins		1,025		80,463
United Technologies		2,345		247,632


				3,298,229

Air Freight & Logistics–0.18%
FedEx		1,665		268,814
†XPO Logistics		4,210		158,591


				427,405

Auto Components–0.50%
Borg Warner		2,080		109,429
Johnson Controls		22,100		972,400
†Tenneco		2,710		141,760


				1,223,589

Automobiles–0.09%
Ford Motor		14,595		215,860


				215,860

Banks–1.45%
BB&T		26,600		989,786
BBCN Bancorp		6,210		90,604
Bryn Mawr Bank		1,160		32,863
Cardinal Financial		6,100		104,127
Citigroup		6,295		326,207
City Holding		2,380		100,269
†First NBC Bank Holding		2,840		93,010
Flushing Financial		4,240		77,465
@Independent Bank (Massachusetts)		2,780		99,302
JPMorgan Chase		7,860		473,486
Prosperity Bancshares		2,260		129,204
Sterling Bancorp		9,530		121,889
Susquehanna Bancshares		10,370		103,700
†Texas Capital Bancshares		2,740		158,043
Webster Financial		3,830		111,606
Wells Fargo		7,890		409,254
†Western Alliance Bancorp		5,040		120,456


				3,541,271

Beverages–0.21%
Coca-Cola		2,550		108,783
PepsiCo		4,305		400,752


				509,535

Biotechnology–1.46%
†Acorda Therapeutics		3,380		114,514


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Biotechnology (continued)
†Alkermes		2,680	$	114,892
†Celgene		25,160		2,384,665
†Cepheid		3,360		147,941
†Gilead Sciences		3,955		421,010
†Isis Pharmaceuticals		1,690		65,623
†NPS Pharmaceuticals		4,200		109,200
†Spectrum Pharmaceuticals		7,650		62,271
†Vertex Pharmaceuticals		1,200		134,772


				3,554,888

Building Products–0.05%
AAON		6,403		108,915
†Continental Building Products		638		9,315


				118,230

Capital Markets–0.95%
Ameriprise Financial		1,450		178,901
Bank of New York Mellon		25,220		976,771
BlackRock		585		192,067
Evercore Partners Class A		4,460		209,620
Greenhill		1,510		70,200
Invesco		4,525		178,647
Raymond James Financial		3,605		193,156
State Street		2,645		194,698
†Stifel Financial		2,480		116,287


				2,310,347

Chemicals–0.81%
Axiall		2,660		95,255
†Chemtura		5,600		130,648
duPont (E.I.) deNemours		17,105		1,227,455
Eastman Chemical		2,555		206,674
Huntsman		4,705		122,283
Innophos Holdings		1,520		83,737
Quaker Chemical		740		53,051
†Taminco		2,430		63,423


				1,982,526

Commercial Services & Supplies–0.66%
McGrath RentCorp		3,650		124,830
Republic Services		3,375		131,693
Tetra Tech		3,540		88,429
United Stationers		3,430		128,865
US Ecology		2,490		116,432
Waste Management		21,500		1,021,895


				1,612,144

Communications Equipment–1.37%
Cisco Systems		48,090		1,210,425
†NETGEAR		2,930		91,563
Plantronics		2,020		96,516


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Communications Equipment (continued)
QUALCOMM		25,960	$	1,941,029


				3,339,533

Construction & Engineering–0.09%
Granite Construction		3,310		105,291
†MasTec		1,870		57,259
†MYR Group		2,760		66,461


				229,011

Consumer Finance–0.12%
Capital One Financial		3,540		288,935


				288,935

Containers & Packaging–0.08%
MeadWestvaco		4,920		201,425


				201,425

Diversified Financial Services–0.64%
CME Group		5,800		463,739
IntercontinentalExchange Group		5,660		1,103,983


				1,567,722

Diversified Telecommunication Services–1.06%
AT&T		38,822		1,368,087
Atlantic Tele-Network		1,330		71,687
†inContact		11,610		100,949
Verizon Communications		20,743		1,036,943


				2,577,666

Electric Utilities–0.56%
Cleco		2,490		119,893
Edison International		19,320		1,080,374
OGE Energy		4,705		174,603


				1,374,870

Electrical Equipment–0.08%
Acuity Brands		390		45,907
Eaton		2,350		148,919


				194,826

Electronic Equipment, Instruments & Components–0.15%
Anixter International		1,440		122,170
†FARO Technologies		2,700		137,025
†Rofin-Sinar Technologies		4,420		101,925


				361,120

Energy Equipment & Services–0.70%
Bristow Group		890		59,808
†C&J Energy Services		2,940		89,817
Core Laboratories		750		109,763
Halliburton		14,700		948,297
†Pioneer Energy Services		2,780		38,976
†RigNet		2,690		108,811


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Energy Equipment & Services (continued)
Schlumberger		3,420	$	347,780


				1,703,252

Food & Staples Retailing–1.24%
Casey’s General Stores		3,445		247,007
CVS Health		16,443		1,308,698
Walgreen		24,800		1,469,896


				3,025,601

Food Products–1.33%
Archer-Daniels-Midland		20,100		1,027,110
General Mills		4,045		204,070
J&J Snack Foods		1,160		108,530
Kraft Foods Group		17,333		977,581
Mondelez International Class A		27,400		938,861


				3,256,152

Health Care Equipment & Supplies–0.67%
Baxter International		13,900		997,603
Conmed		3,100		114,204
CryoLife		7,650		75,505
†DexCom		3,080		123,169
†Merit Medical Systems		4,280		50,846
†Quidel		4,180		112,317
West Pharmaceutical Services		3,680		164,717


				1,638,361

Health Care Providers & Services–1.20%
†Air Methods		2,920		162,206
Cardinal Health		13,500		1,011,420
†Cross Country Healthcare		7,510		69,768
†Express Scripts Holding		3,890		274,751
Quest Diagnostics		16,200		983,016
UnitedHealth Group		3,975		342,844
†WellCare Health Plans		1,570		94,734


				2,938,739

Hotels, Restaurants & Leisure–0.42%
†Buffalo Wild Wings		930		124,871
Cheesecake Factory		2,840		129,220
†Del Frisco’s Restaurant Group		4,430		84,790
Jack in the Box		2,790		190,250
McDonald’s		1,180		111,876
†Popeyes Louisiana Kitchen		3,650		147,825
Starbucks		3,195		241,095


				1,029,927

Household Products–0.26%
Kimberly-Clark		1,525		164,044
Procter & Gamble		5,650		473,131


				637,175


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Industrial Conglomerates–0.17%
General Electric		16,485	$	422,346


				422,346

Insurance–1.34%
AFLAC		3,645		212,321
Allstate		16,400		1,006,468
American Equity Investment Life
Holding		6,080		139,110
AMERISAFE		2,080		81,349
Fidelity & Guaranty Life		4,280		91,378
@Infinity Property & Casualty		1,260		80,653
Marsh & McLennan		19,500		1,020,630
Primerica		2,090		100,780
Prudential Financial		1,645		144,661
@Selective Insurance Group		3,940		87,232
Travelers		2,515		236,259
United Fire Group		2,680		74,424


				3,275,265

Internet & Catalog Retail–1.19%
†Liberty Interactive Class A		49,300		1,406,036
†Priceline Group		1,195		1,384,503
†Shutterfly		2,270		110,640


				2,901,179

Internet Software & Services–2.30%
†Brightcove		6,595		36,800
†eBay		23,850		1,350,625
†Equinix		5,175		1,099,584
†Facebook Class A		3,520		278,221
†Google		1,405		811,191
†Google Class A		2,020		1,188,588
†GrubHub		1,380		47,251
j2 Global		2,650		130,804
†SciQuest		5,960		89,638
†Yahoo		5,082		207,091
†Yelp		5,325		363,431


				5,603,224

IT Services–2.14%
Accenture Class A		3,225		262,257
†ExlService Holdings		1,770		43,206
International Business Machines		405		76,881
†InterXion Holding		3,680		101,899
MasterCard Class A		23,675		1,750,056
†TeleTech Holdings		3,900		95,862
Visa Class A		8,900		1,898,993
Xerox		74,200		981,666


				5,210,820


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Life Sciences Tools & Services–0.12%
Thermo Fisher Scientific		2,490	$	303,033


				303,033

Machinery–0.37%
Barnes Group		3,870		117,455
Caterpillar		865		85,661
†Chart Industries		640		39,123
Columbus McKinnon		4,430		97,416
Cummins		905		119,442
Deere		1,105		90,599
ESCO Technologies		2,120		73,734
Kadant		3,330		130,037
Parker Hannifin		1,380		157,527


				910,994

Media–0.23%
Cinemark Holdings		1,710		58,208
Comcast Class A		4,765		254,927
National CineMedia		6,010		87,205
Regal Entertainment Group Class A		2,700		53,676
Viacom Class B		1,230		94,636


				548,652

Metals & Mining–0.11%
Kaiser Aluminum		1,440		109,757
Materion		2,110		64,714
Worthington Industries		2,380		88,584


				263,055

Multiline Retail–0.18%
Macy’s		4,005		233,011
Nordstrom		2,825		193,145


				426,156

Multi-Utilities–0.17%
MDU Resources Group		5,230		145,446
NorthWestern		2,280		103,421
Sempra Energy		1,665		175,458


				424,325

Oil, Gas & Consumable Fuels–3.52%
†Bonanza Creek Energy		660		37,554
†Carrizo Oil & Gas		1,890		101,720
Chevron		11,951		1,425,993
ConocoPhillips		13,925		1,065,541
†Diamondback Energy		910		68,050
EOG Resources		17,115		1,694,727
Exxon Mobil		4,375		411,469
†@Jones Energy Class A		4,630		86,951
Kinder Morgan		15,100		578,934
†Kodiak Oil & Gas		8,460		114,802
Marathon Oil		29,255		1,099,695
Occidental Petroleum		12,620		1,213,413


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Oil, Gas & Consumable Fuels (continued)
†Parsley Energy Class A		1,060	$	22,610
†Rosetta Resources		2,640		117,638
†RSP Permian		1,680		42,941
Williams		9,100		503,685


				8,585,723

Paper & Forest Products–0.14%
†Boise Cascade		3,890		117,245
International Paper		2,290		109,325
Neenah Paper		2,170		116,052


				342,622

Pharmaceuticals–2.93%
AbbVie		5,945		343,383
†Actavis		700		168,896
†Akorn		3,260		118,240
Allergan		9,450		1,683,895
†Auxilium Pharmaceuticals		3,690		110,147
Johnson & Johnson		10,337		1,101,821
†Medicines		1,970		43,970
Merck		23,740		1,407,307
Perrigo		4,415		663,089
Pfizer		48,320		1,428,822
†Prestige Brands Holdings		2,550		82,543


				7,152,113

Professional Services–0.17%
Kforce		6,780		132,685
Nielsen Holdings		3,115		138,088
†WageWorks		3,100		141,143


				411,916

Real Estate Investment Trusts–3.91%
American Campus Communities		1,550		56,497
American Realty Capital Properties		5,200		62,712
American Tower		2,615		244,842
Apartment Investment & Management		2,550		81,141
AvalonBay Communities		1,800		253,746
Boston Properties		2,375		274,930
Brandywine Realty Trust		7,800		109,746
Camden Property Trust		1,100		75,383
Corporate Office Properties Trust		2,025		52,083
Cousins Properties		4,950		59,153
Crown Castle International		20,025		1,612,613
DCT Industrial Trust		18,445		138,522
DDR		8,850		148,061
Douglas Emmett		4,875		125,141
Duke Realty		9,575		164,499
DuPont Fabros Technology		4,070		110,053
EastGroup Properties		1,430		86,644
EPR Properties		4,005		202,973
Equity Lifestyle Properties		1,350		57,186


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Real Estate Investment Trusts (continued)
Equity One		2,550	$	55,157
Equity Residential		4,750		292,505
Essex Property Trust		975		174,281
Extra Space Storage		1,300		67,041
Federal Realty Investment Trust		525		62,191
First Industrial Realty Trust		5,550		93,851
First Potomac Realty Trust		2,975		34,956
General Growth Properties		10,250		241,387
Health Care REIT		1,425		88,877
Healthcare Realty Trust		2,775		65,712
Healthcare Trust of America		5,100		59,160
Highwoods Properties		2,750		106,975
Host Hotels & Resorts		16,060		342,560
Kilroy Realty		1,650		98,076
Kimco Realty		5,075		111,193
Kite Realty Group Trust		5,232		126,824
LaSalle Hotel Properties		5,320		182,157
Lexington Realty Trust		5,850		57,271
Liberty Property Trust		1,375		45,733
LTC Properties		500		18,445
Macerich		1,450		92,553
National Retail Properties		5,910		204,309
Pebblebrook Hotel Trust		1,975		73,747
Post Properties		1,725		88,561
Prologis		6,775		255,417
PS Business Parks		800		60,912
Public Storage		1,300		215,592
Ramco-Gershenson Properties Trust		9,730		158,113
Regency Centers		2,125		114,389
RLJ Lodging Trust		2,950		83,987
Sabra Health Care REIT		1,475		35,872
Simon Property Group		4,050		665,901
SL Green Realty		1,850		187,442
Sovran Self Storage		1,300		96,668
Spirit Realty Capital		7,425		81,452
†Strategic Hotels & Resorts		7,950		92,617
Tanger Factory Outlet Centers		2,900		94,888
Taubman Centers		750		54,750
UDR		4,400		119,900
Ventas		4,075		252,446
Vornado Realty Trust		2,750		274,890


				9,544,683

Road & Rail–0.23%
Hunt (J.B.) Transport Services		1,550		114,777
†Roadrunner Transportation Systems		4,290		97,769
Union Pacific		3,185		345,318


				557,864

Semiconductors & Semiconductor Equipment–1.22%
†Applied Micro Circuits		10,720		75,040


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Semiconductors & Semiconductor Equipment (continued)
Avago Technologies		2,065	$	179,655
Broadcom Class A		25,100		1,014,542
Intel		36,021		1,254,251
Maxim Integrated Products		6,175		186,732
†Semtech		5,120		139,008
†Synaptics		1,610		117,852


				2,967,080

Software–2.37%
†Adobe Systems		20,850		1,442,611
†Callidus Software		3,720		44,714
†Guidewire Software		2,340		103,756
Intuit		13,425		1,176,701
Microsoft		53,270		2,469,597
†Proofpoint		3,990		148,189
†Rally Software Development		4,760		57,168
†salesforce.com		2,735		157,345
†SS&C Technologies Holdings		2,540		111,481
†Tyler Technologies		930		82,212


				5,793,774

Specialty Retail–1.38%
DSW Class A		4,045		121,795
†Express		4,230		66,030
L Brands		20,350		1,363,043
Lowe’s		18,900		1,000,188
†Sally Beauty Holdings		18,100		495,397
Tractor Supply		2,715		167,000
†Urban Outfitters		4,195		153,957


				3,367,410

Technology Hardware, Storage & Peripherals–0.43%
Apple		7,090		714,317
EMC		11,520		337,075


				1,051,392

Textiles, Apparel & Luxury Goods–0.52%
†G-III Apparel Group		1,600		132,576
†Iconix Brand Group		3,100		114,514
†Madden (Steven)		4,660		150,192
NIKE Class B		9,850		878,620


				1,275,902

Trading Companies & Distributors–0.05%
Applied Industrial Technologies		2,880		131,472


				131,472


Total U.S. Markets (Cost $60,862,454)				104,629,339


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS–16.32%
Aerospace & Defense–0.17%
Meggitt		55,204	$	403,784


				403,784

Air Freight & Logistics–0.42%
Deutsche Post		32,204		1,032,786


				1,032,786

Airlines–0.43%
@Westjet Airlines Class VV		37,487		1,048,438


				1,048,438

Auto Components–0.28%
Sumitomo Rubber Industries		47,700		678,104


				678,104

Automobiles–0.62%
Bayerische Motoren Werke		3,215		345,255
Toyota Motor		19,800		1,166,894


				1,512,149

Banks–2.24%
BNP Paribas		678		44,951
†ING Groep		56,311		804,440
Mitsubishi UFJ Financial Group		214,700		1,214,215
Nordea Bank		103,928		1,352,370
Standard Chartered		63,212		1,168,704
UniCredit		110,727		875,519


				5,460,199

Beverages–0.57%
Carlsberg Class B		9,290		825,995
Coca-Cola Amatil		74,731		574,482


				1,400,477

Chemicals–0.20%
Syngenta ADR		7,825		495,870


				495,870

Construction & Engineering–0.38%
Vinci		15,731		914,111


				914,111

Construction Materials–0.27%
Lafarge		9,174		660,729


				660,729

Containers & Packaging–0.33%
Rexam		102,201		814,805


				814,805

Diversified Telecommunication Services–0.63%
Nippon Telegraph & Telephone		24,714		1,537,174


				1,537,174


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Energy Equipment & Services–0.59%
†Saipem		35,387	$	752,703
Subsea 7		48,817		697,136


				1,449,839

Food & Staples Retailing–0.18%
Tesco		144,702		436,781


				436,781

Food Products–0.49%
†Aryzta		13,873		1,196,712


				1,196,712

Household Durables–0.23%
Techtronic Industries		193,000		558,008


				558,008

Industrial Conglomerates–0.40%
Koninklijke Philips		30,860		984,811


				984,811

Insurance–0.53%
AXA		52,349		1,290,041


				1,290,041

IT Services–1.12%
†CGI Group Class A		46,032		1,555,432
Teleperformance		19,216		1,188,829


				2,744,261

Life Sciences Tools & Services–0.07%
†ICON		3,020		172,835


				172,835

Media–0.25%
Publicis Groupe		8,727		599,325


				599,325

Metals & Mining–0.54%
Anglo American ADR		9,585		107,527
AuRico Gold		64,647		225,717
Rio Tinto		14,838		729,193
Yamana Gold		42,639		255,868


				1,318,305

Multiline Retail–0.14%
Don Quijote		5,800		332,668


				332,668

Multi-Utilities–0.18%
National Grid		30,974		445,882


				445,882


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Oil, Gas & Consumable Fuels–0.30%
Total		11,117	$	722,455


				722,455

Pharmaceuticals–3.00%
Novartis		16,180		1,527,918
Novo Nordisk ADR		21,800		1,038,116
Sanofi		12,573		1,422,298
Stada Arzneimittel		17,207		684,735
Teva Pharmaceutical Industries ADR		49,300		2,649,875


				7,322,942

Road & Rail–0.34%
East Japan Railway		10,972		822,412


				822,412

Specialty Retail–0.49%
Nitori Holdings		19,118		1,183,707


				1,183,707

Textiles, Apparel & Luxury Goods–0.53%
Kering		2,733		551,120
Yue Yuen Industrial Holdings		246,500		747,609


				1,298,729

Trading Companies & Distributors–0.40%
ITOCHU		80,760		986,809


				986,809


Total Developed Markets (Cost $29,722,862)				39,825,148

×EMERGING MARKETS–10.30%
Airlines–0.05%
Gol Linhas Aereas Inteligentes ADR		23,700		113,997


				113,997

Automobiles–0.16%
Hyundai Motor		764		137,961
Mahindra & Mahindra		11,247		247,093


				385,054

Banks–1.13%
Banco Santander Brasil ADR		30,504		199,496
Bangkok Bank		34,193		215,057
China Construction Bank		306,239		214,549
ICICI Bank ADR		6,200		304,420
Industrial & Commercial Bank of China		390,238		243,244
Itau Unibanco Holding ADR		19,572		271,659
KB Financial Group ADR		9,203		333,332
Powszechna Kasa Oszczednosci Bank Polski		10,432		124,957
@=Sberbank		136,705		260,682
Shinhan Financial Group		6,513		300,044


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Banks (continued)
Standard Bank Group		24,147	$	279,550


				2,746,990

Beverages–0.55%
†Anadolu Efes Biracilik Ve Malt Sanayii		24,571		283,852
Cia Cervecerias Unidas ADR		5,800		127,774
Fomento Economico Mexicano ADR		2,965		272,928
@Lotte Chilsung Beverage		226		465,518
Tsingtao Brewery		26,072		185,681


				1,335,753

Building Products–0.25%
@KCC		901		614,076


				614,076

Chemicals–0.13%
Braskem ADR		13,968		183,959
Sociedad Quimica y Minera de Chile
ADR		4,800		125,472


				309,431

Construction & Engineering–0.05%
†Empresas ICA ADR		19,000		131,480


				131,480

Construction Materials–0.44%
†Cemex ADR		38,255		498,845
†Cemex Latam Holdings		13,816		123,082
Siam Cement		9,204		127,695
Siam Cement NVDR		7,259		100,711
Ultratech Cement		5,409		229,813


				1,080,146

Diversified Financial Services–0.08%
Remgro		9,489		191,726


				191,726

Diversified Telecommunication Services–0.16%
KT ADR		11,166		181,001
Telefonica Brasil ADR		11,095		218,350


				399,351

Electronic Equipment, Instruments & Components–0.27%
Hon Hai Precision Industry		128,004		403,959
†LG Display ADR		16,391		258,158


				662,117

Food & Staples Retailing–0.17%
Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR		5,400		235,494
Wal-Mart de Mexico Series V		72,977		183,720


				419,214


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Food Products–0.59%
Brasil Foods ADR		12,599	$	299,730
China Mengniu Dairy		53,000		218,420
@Lotte Confectionery		152		313,956
Tingyi Cayman Islands Holding		91,541		240,499
@Uni-President China Holdings		355,600		355,378


				1,427,983

Hotels, Restaurants & Leisure–0.04%
@Arcos Dorados Holdings		18,100		108,238


				108,238

Household Durables–0.07%
LG Electronics		2,777		172,946


				172,946

Insurance–0.11%
Samsung Life Insurance		2,569		258,130


				258,130

Internet Software & Services–0.98%
†Alibaba Group Holding ADR		300		26,655
†Baidu ADR		8,800		1,920,424
†SINA		4,596		189,079
†Sohu.com		5,300		266,219


				2,402,377

IT Services–0.06%
†WNS Holdings ADR		6,830		153,743


				153,743

Media–0.26%
Grupo Televisa ADR		18,514		627,254


				627,254

Metals & Mining–0.21%
†Anglo American Platinum		3,202		103,871
@Gerdau		17,000		68,558
Gerdau ADR		13,300		63,840
†Impala Platinum Holdings		6,693		51,597
Vale ADR		20,852		229,580


				517,446

Multiline Retail–0.06%
Woolworths Holdings		24,651		152,705


				152,705

Oil, Gas & Consumable Fuels–1.64%
Cairn India		34,400		173,194
China Petroleum & Chemical		172,850		151,372
CNOOC ADR		1,177		203,080
@Gazprom ADR		50,996		359,012
LUKOIL ADR		5,608		285,447
PetroChina ADR		1,736		223,093
Petroleo Brasileiro ADR		39,169		555,808


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Oil, Gas & Consumable Fuels (continued)
Polski Koncern Naftowy Orlen		10,070	$	125,457
PTT - Foreign		21,778		241,717
#Reliance Industries GDR 144A		28,196		859,978
@Rosneft GDR		33,951		197,832
Sasol ADR		4,653		253,542
Tambang Batubara Bukit Asam Persero		125,600		136,062
YPF ADR		6,600		244,134


				4,009,728

Paper & Forest Products–0.16%
†Fibria Celulose ADR		26,010		286,110
Nine Dragons Paper Holdings		156,500		112,666


				398,776

Personal Products–0.10%
†Hypermarcas		32,400		233,528


				233,528

Real Estate Management & Development–0.10%
#@=Etalon Group GDR 144A		10,500		38,325
@UEM Sunrise		386,868		214,665


				252,990

Road & Rail–0.02%
America Latina Logistica		21,742		56,412


				56,412

Semiconductors & Semiconductor Equipment–0.42%
MediaTek		20,000		296,187
Taiwan Semiconductor Manufacturing		85,944		339,030
Taiwan Semiconductor Manufacturing ADR		11,400		230,052
United Microelectronics		377,000		156,154


				1,021,423

Technology Hardware, Storage & Peripherals–0.47%
Samsung Electronics		1,019		1,143,652


				1,143,652

Transportation Infrastructure–0.03%
Santos Brasil Participacoes		9,575		65,727


				65,727

Wireless Telecommunication Services–1.54%
America Movil ADR		9,558		240,862
China Mobile		39,848		460,583
China Mobile ADR		5,193		305,089
MegaFon GDR		10,105		256,465
Mobile Telesystems ADR		8,400		125,496
MTN Group		11,076		233,900
SK Telecom ADR		37,100		1,125,614
Tim Participacoes ADR		24,600		644,520


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Wireless Telecommunication Services (continued)
†Turkcell Iletisim Hizmetleri ADR		12,010	$	157,811
Vodacom Group		18,033		207,729


				3,758,069

Total Emerging Markets (Cost $21,989,365)				25,150,462

Total Common Stock (Cost $112,574,681)				169,604,949

CONVERTIBLE PREFERRED STOCK–0.08%
Alcoa 5.375% exercise price $19.39, expiration date 10/1/17		250		12,475
ArcelorMittal 6.00% exercise price $20.36, expiration date 12/21/15		500		10,727
Bank of America 7.25% exercise price $50.00, expiration date 12/31/49		9		10,319
#Chesapeake Energy 144A 5.75% exercise price $26.14, expiration date 12/31/49		13		14,454
Dominion Resources 6.125% exercise price $65.21, expiration date 4/1/16		158		8,857
Exelon 6.50% exercise price $43.75, expiration date 6/1/17		200		10,160
Halcon Resources 5.75%exercise price $6.16, expiration date 12/31/49		14		11,900
HealthSouth 6.50% exercise price $30.01, expiration date 12/31/49		14		18,632
Huntington Bancshares 8.50% exercise price $11.95, expiration date 12/31/49		14		18,480
Intelsat 5.75% exercise price $22.05, expiration date 5/1/16		434		20,606
Maiden Holdings 7.25% exercise price $15.47, expiration date 9/15/16		350		15,631
MetLife 5.00% exercise price $44.27, expiration date 10/8/14		450		13,855
SandRidge Energy 8.50%exercise price $8.01, expiration date 12/31/49		138		13,127


	Number of Shares		Value (U.S. $)

CONVERTIBLE PREFERRED STOCK (continued)
Wells Fargo 7.50% exercise price $156.71, expiration date 12/31/49		13	$	15,633


Total Convertible Preferred Stock (Cost $196,721)				194,856

EXCHANGE-TRADED FUNDS–9.30%
iShares MSCI EAFE Growth Index ETF		163,780		11,153,418
iShares MSCI EAFE Index ETF		88,140		5,651,537
Vanguard FTSE Developed Markets ETF		148,370		5,897,707


Total Exchange-Traded Funds (Cost $16,846,457)				22,702,662

PREFERRED STOCK–0.08%
Alabama Power 5.625%		2,475		60,835
•Integrys Energy Group 6.00%		1,700		43,588
National Retail Properties 5.70%		1,125		26,831
Public Storage 5.20%		1,200		27,096
•Regions Financial 6.375%		1,300		32,994


Total Preferred Stock (Cost $193,391)				191,344


	Principal Amount°

AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.18%
Fannie Mae Grantor Trust Series 2001-T7 A1 7.50% 2/25/41		53		61
Fannie Mae REMICs
Series 1996-46 ZA 7.50% 11/25/26		989		1,123
Series 2003-26 AT 5.00% 11/25/32		24,214		25,131
Series 2010-41 PN 4.50% 4/25/40		65,000		69,782
•*Series 2012-122 SD 5.946% 11/25/42		89,503		19,878
*Series 2013-26 ID 3.00% 4/25/33		89,717		14,552
*Series 2013-38 AI 3.00% 4/25/33		86,986		13,985
*Series 2013-44 DI 3.00% 5/25/33		217,306		36,045
Series 2014-36 ZE 3.00% 6/25/44		35,351		29,536
Freddie Mac REMICs Series 2326 ZQ 6.50% 6/15/31		8,347		9,457


	Principal Amount°		Value (U.S. $)

AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
Freddie Mac REMICs (continued)
Series 4065 DE 3.00% 6/15/32		10,000	$	9,620
*Series 4185 LI 3.00% 3/15/33		90,153		15,160
*Series 4191 CI 3.00% 4/15/33		91,030		15,116
GNMA Series 2010-113 KE 4.50% 9/20/40		155,000		167,313


Total Agency Collateralized Mortgage Obligations (Cost $413,643)				426,759

AGENCY MORTGAGE-BACKED SECURITIES–3.44%
Fannie Mae ARM
•2.42% 5/1/43		28,889		28,724
•2.546% 6/1/43		9,977		9,985
•3.199% 4/1/44		46,228		47,647
•3.279% 3/1/44		39,767		41,245
•3.292% 9/1/43		35,121		36,225
•5.141% 8/1/35		2,076		2,224
Fannie Mae S.F. 15 yr
2.50% 10/1/27		31,541		31,909
2.50% 2/1/28		93,276		94,365
3.00% 11/1/27		3,405		3,520
3.00% 5/1/28		6,956		7,186
3.50% 7/1/26		24,074		25,371
4.00% 5/1/25		15,840		16,904
4.00% 6/1/25		59,028		62,987
4.00% 11/1/25		111,839		119,431
4.00% 12/1/26		26,927		28,738
4.00% 5/1/27		56,714		60,513
4.00% 8/1/27		32,205		34,383
4.50% 4/1/18		2,950		3,116
4.50% 5/1/20		632		671
4.50% 8/1/20		886		941
4.50% 10/1/20		900		957
4.50% 9/1/24		1,463		1,583
4.50% 12/1/24		2,059		2,199
4.50% 4/1/25		12,848		13,572
5.00% 12/1/20		3,051		3,253
5.00% 6/1/23		6,073		6,571
Fannie MaeS.F.15yr TBA
2.50% 10/1/29		133,000		133,748
2.50% 11/1/29		105,000		105,340
3.00% 10/1/29		380,000		391,400
Fannie Mae S.F. 20 yr
3.00% 2/1/33		3,548		3,615
3.00% 8/1/33		13,917		14,131
3.50% 4/1/33		4,301		4,485
3.50% 9/1/33		19,788		20,638
4.00% 1/1/31		5,186		5,545
4.00% 2/1/31		20,523		21,938
5.00% 11/1/23		1,802		1,987
6.00% 9/1/29		16,466		18,613


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr
3.00% 7/1/42		26,982	$	26,671
3.00% 10/1/42		414,567		409,721
3.00% 12/1/42		68,424		67,616
3.00% 1/1/43		154,929		153,060
3.00% 2/1/43		13,754		13,588
3.00% 4/1/43		104,112		102,824
3.00% 5/1/43		89,697		88,578
4.00% 8/1/43		12,072		12,770
4.50% 7/1/36		8,412		9,081
4.50% 11/1/40		24,552		26,558
4.50% 3/1/41		53,397		57,753
4.50% 4/1/41		62,880		68,023
4.50% 10/1/41		31,400		33,966
4.50% 11/1/41		23,857		25,808
4.50% 12/1/43		1,824		1,975
4.50% 5/1/44		6,961		7,536
5.00% 2/1/35		38,528		42,616
5.00% 4/1/35		9,394		10,388
5.00% 7/1/35		11,759		12,999
5.00% 10/1/35		26,763		29,592
5.00% 11/1/35		8,491		9,392
5.00% 4/1/37		7,253		8,014
5.00% 8/1/37		21,175		23,411
5.00% 2/1/38		7,606		8,411
5.50% 12/1/32		1,509		1,694
5.50% 2/1/33		22,288		24,957
5.50% 11/1/34		8,420		9,445
5.50% 12/1/34		37,149		41,623
5.50% 3/1/35		5,001		5,600
5.50% 5/1/35		13,388		15,000
5.50% 6/1/35		6,689		7,470
5.50% 1/1/36		4,272		4,787
5.50% 5/1/36		3,884		4,348
5.50% 7/1/36		2,262		2,535
5.50% 1/1/37		639		717
5.50% 4/1/37		34,978		39,555
5.50% 8/1/37		8,731		9,770
5.50% 1/1/38		820		913
5.50% 2/1/38		13,966		15,639
5.50% 3/1/38		16,883		18,938
5.50% 6/1/38		2,029		2,258
5.50% 9/1/38		58,470		65,448
5.50% 12/1/38		31,938		35,797
5.50% 10/1/39		74,762		83,187
5.50% 7/1/40		21,757		24,209
5.50% 9/1/41		8,845		9,854
6.00% 5/1/36		29,956		33,963
6.00% 6/1/36		2,894		3,283
6.00% 7/1/36		7,089		8,053
6.00% 12/1/36		3,322		3,779
6.00% 2/1/37		9,530		10,805


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
6.00% 5/1/37		24,217	$	27,342
6.00% 6/1/37		1,665		1,904
6.00% 7/1/37		1,767		2,004
6.00% 8/1/37		22,457		25,452
6.00% 9/1/37		3,125		3,543
6.00% 11/1/37		4,662		5,322
6.00% 5/1/38		41,087		46,474
6.00% 7/1/38		1,141		1,289
6.00% 9/1/38		8,208		9,278
6.00% 10/1/38		35,929		40,582
6.00% 11/1/38		7,700		8,753
6.00% 1/1/39		15,141		17,103
6.00% 9/1/39		128,935		145,758
6.00% 3/1/40		13,391		15,133
6.00% 7/1/40		53,040		59,971
6.00% 9/1/40		11,888		13,460
6.00% 11/1/40		4,528		5,182
6.00% 5/1/41		18,128		20,524
Fannie Mae S.F. 30 yr TBA
3.00% 11/1/44		885,000		869,962
3.50% 11/1/44		298,000		303,704
4.00% 10/1/44		157,000		165,449
4.00% 11/1/44		1,538,000		1,615,957
4.50% 11/1/44		1,090,000		1,172,985
5.00% 11/1/44		92,000		101,294
Freddie Mac ARM
•2.342% 12/1/33		13,824		14,756
•2.482% 6/1/37		5,211		5,594
•2.526% 1/1/44		84,412		86,060
Freddie Mac S.F. 15 yr
4.00% 5/1/25		4,561		4,869
4.50% 5/1/20		5,887		6,302
4.50% 7/1/25		5,023		5,379
4.50% 6/1/26		11,617		12,407
5.50% 5/1/20		162,392		176,342
Freddie Mac S.F. 20 yr
3.00% 6/1/34		14,873		15,073
3.50% 1/1/34		33,222		34,549
Freddie Mac S.F. 30 yr
3.00% 10/1/42		30,494		30,254
3.00% 11/1/42		26,451		26,325
4.50% 6/1/39		5,160		5,568
4.50% 10/1/39		12,832		13,846
5.50% 3/1/34		3,120		3,496
5.50% 12/1/34		2,896		3,256
5.50% 6/1/36		2,069		2,308
5.50% 11/1/36		2,850		3,178
5.50% 12/1/36		1,014		1,129
5.50% 6/1/38		1,608		1,791
5.50% 3/1/40		12,367		13,775
5.50% 8/1/40		7,535		8,384
5.50% 1/1/41		7,208		8,023


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac S.F. 30 yr (continued)
5.50% 6/1/41		13,021	$	14,491
6.00% 2/1/36		6,792		7,734
6.00% 1/1/38		4,700		5,293
6.00% 6/1/38		12,351		13,926
6.00% 8/1/38		15,719		17,959
6.00% 5/1/40		4,815		5,430
6.50% 4/1/39		18,510		20,930
GNMA I S.F. 30 yr 5.00% 6/15/40		6,929		7,626


Total Agency Mortgage-Backed Securities (Cost $8,313,816)				8,394,116

AGENCY OBLIGATIONS–0.04%
Fannie Mae 2.625% 9/6/24		45,000		44,361
Tennessee Valley Authority 2.875% 9/15/24		55,000		54,704


Total Agency Obligations (Cost $99,006)				99,065

COMMERCIAL MORTGAGE-BACKED SECURITIES–0.93%
•Banc of America Commercial Mortgage Trust Series 2007-4 AM 6.015% 2/10/51		40,000		44,048
CD Commercial Mortgage Trust
•Series 2005-CD1 AM 5.40% 7/15/44		25,000		25,926
•Series 2005-CD1 C 5.40% 7/15/44		30,000		30,837
Citigroup Commercial Mortgage Trust Series 2014-GC23 AS 3.863% 7/10/47		20,000		20,353
¿Commercial Mortgage Pass Through Certificates Series 2014-LC17 A5 3.917% 10/10/47		50,000		51,977
Commercial Mortgage Trust Series 2014-CR19 A5 3.796% 8/10/47		25,000		25,543
#•DB-UBS Mortgage Trust Series 2011-LC1A C 144A 5.73% 11/10/46		100,000		111,474
FREMF Mortgage Trust
#•Series 2011-K702 B 144A 4.936% 4/25/44		10,000		10,637
#•Series 2012-K19 B 144A 4.176% 5/25/45		10,000		10,259
#•Series 2012-K708 B 144A 3.891% 2/25/45		100,000		102,851
#•Series 2013-K33 B 144A 3.619% 8/25/46		30,000		29,272
#•Series 2013-K712 144A 3.484% 5/25/45		125,000		125,122


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
FREMF Mortgage Trust (continued)
#•Series 2013-K713 144A 3.274% 4/25/46		75,000	$	74,109
#•Series 2014-K716 B 144A 3.954% 8/25/47		25,000		25,376
Goldman Sachs Mortgage Securities II
Series 2005-GG4 A4A 4.751% 7/10/39		46,761		47,121
#Series 2010-C1 A2 144A 4.592% 8/10/43		100,000		109,241
#Grace Mortgage Trust Series 2014-GRCE A 144A 3.369% 6/10/28		700,000		717,653
#Hilton USA Trust Series 2013-HLT BFX 144A 3.367% 11/5/30		200,000		203,212
JPMBB Commercial Mortgage Securities Trust
Series 2014-C18 A1 1.254% 2/15/47		27,371		27,222
Series 2014-C21 AS 3.997% 8/15/47		20,000		20,389
Series 2014-C22 A4 3.801% 9/15/47		60,000		61,558
•Series 2014-C22 B 4.714% 9/15/47		40,000		41,535
JPMorgan Chase Commercial Mortgage Securities
•Series 2005-CB11 E 5.647% 8/12/37		15,000		16,036
•Series 2005-LDP5 D 5.559% 12/15/44		25,000		25,791
Series 2006-LDP8 AM 5.44% 5/15/45		89,000		95,350
Lehman Brothers-UBS Commercial Mortgage Trust
Series 2004-C1 A4 4.568% 1/15/31		4,004		4,111
•Series 2005-C3 B 4.895% 7/15/40		15,000		15,233
•Series 2006-C6 AJ 5.452% 9/15/39		35,000		36,992
Series 2006-C6 AM 5.413% 9/15/39		15,000		16,133
Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C18 A4 3.923% 10/15/47		35,000		36,225
Morgan Stanley Capital I Trust •Series 2005-HQ7 AJ 5.38% 11/14/42		50,000		51,599


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Morgan Stanley Capital I Trust (continued)
•Series 2006-T21 AM 5.204% 10/12/52		35,000	$	36,579
WF-RBS Commercial Mortgage Trust Series 2014-C23 A5 3.917% 10/15/57		30,000		30,899


Total Commercial Mortgage-Backed Securities (Cost $2,282,138)				2,280,663


CONVERTIBLE BONDS–0.24%
Alaska Communications Systems Group 6.25% exercise price $10.28, expiration date 4/27/18		27,000		21,870
BGC Partners 4.50% exercise price $9.84, expiration date 7/13/16		21,000		22,207
BioMarin Pharmaceutical 1.50% exercise price $94.15, expiration date 10/13/20		14,000		15,400
Blackstone Mortgage Trust 5.25% exercise price $28.66, expiration date 12/1/18		21,000		22,050
#Campus Crest Communities Operating Partnership 144A 4.75% exercise price $12.56, expiration date 10/11/18		10,000		9,525
#Cardtronics 144A 1.00% exercise price $52.35, expiration date 11/27/20		23,000		22,109
Chesapeake Energy 2.25% exercise price $80.36, expiration date 12/14/38		11,000		10,553
Chesapeake Energy 2.50% exercise price $47.77, expiration date 5/15/37		12,000		12,157
#Ciena 144A 3.75% exercise price $20.17, expiration date 10/15/18		13,000		15,210
#Energy XXI Bermuda 144A 3.00% exercise price $40.40, expiration date 12/13/18		23,000		18,889
Equinix 4.75% exercise price $84.32, expiration date 6/13/16		3,000		7,733
fGeneral Cable 4.50% exercise price $35.33, expiration date 11/15/29		28,000		19,565
Gilead Sciences 1.625% exercise price $22.71, expiration date 5/1/16		6,000		28,028


	Principal Amount°		Value (U.S. $)

CONVERTIBLE BONDS (continued)
Illumina 0.25% exercise price $83.55, expiration date 3/11/16		5,000	$	9,944
Intel 3.25% exercise price $21.71, expiration date 8/1/39		6,000		10,073
Jefferies Group 3.875% exercise price $45.19, expiration date 10/31/29		17,000		18,041
#Lexington Realty Trust 144A 6.00% exercise price $6.68, expiration date 1/11/30		7,000		10,115
Liberty Interactive 0.75% exercise price $1,000.00, expiration date 3/30/43		19,000		25,258
#Liberty Interactive 144A 1.00% exercise price $74.31, expiration date 9/28/43		18,000		18,517
fMeritor 4.00% exercise price $26.73, expiration date 2/12/27		20,000		20,625
MGM Resorts International 4.25% exercise price $18.58, expiration date 4/10/15		9,000		11,357
Mylan 3.75% exercise price $13.32, expiration date 9/15/15		5,000		17,106
Novellus Systems 2.625% exercise price $35.02, expiration date 5/14/41		13,000		28,397
NuVasive 2.75% exercise price $42.13, expiration date 6/30/17		25,000		27,875
Peabody Energy 4.75% exercise price $57.62, expiration date 12/15/41		19,000		13,110
RTI International Metals 1.625% exercise price $40.72, expiration date 10/10/19		14,000		13,457
SanDisk 1.50% exercise price $51.53, expiration date 8/11/17		8,000		15,425
SBA Communications 4.00% exercise price $30.38, expiration date 9/29/14		5,000		18,159
Spirit Realty Capital 3.75% exercise price $13.10, expiration date 5/13/21		15,000		14,588
Titan Machinery 3.75% exercise price $43.17, expiration date 4/30/19		17,000		13,079
#TPG Specialty Lending 144A 4.50% exercise price $25.83, expiration date 12/15/19		17,000		16,522


	Principal Amount°		Value (U.S. $)

CONVERTIBLE BONDS (continued)
#Vantage Drilling 144A 5.50% exercise price $2.39, expiration date 7/15/43		21,000	$	20,567
Vector Group 1.75% exercise price $25.87, expiration date 4/15/20		8,000		8,990
•Vector Group 2.50% exercise price $16.78, expiration date 1/14/19		7,000		10,171
VeriSign 4.086% exercise price $34.37, expiration date 8/15/37		7,000		11,799


Total Convertible Bonds (Cost $510,663)				578,471


CORPORATE BONDS–10.33%
Aerospace & Defense–0.02%
TransDigm
#144A 6.00% 7/15/22		30,000		29,663
#144A 6.50% 7/15/24		25,000		24,937


				54,600

Air Freight & Logistics–0.04%
#Aviation Capital Group 144A 6.75% 4/6/21		40,000		45,600
United Parcel Service 5.125% 4/1/19		45,000		50,695


				96,295

Airlines–0.04%
¿American Airlines 2014-1 Class A Pass Through Trust 3.70% 10/1/26		25,000		25,094
¿United Airlines 2014-1 Class A Pass Through Trust 4.00% 4/11/26		20,000		20,100
¿United Airlines 2014-2 Class A Pass Through Trust 3.75% 9/3/26		45,000		45,563


				90,757

Auto Components–0.14%
American Axle & Manufacturing 6.25% 3/15/21		35,000		36,575
Delphi
4.15% 3/15/24		60,000		61,325
6.125% 5/15/21		65,000		71,500
Magna International 3.625% 6/15/24		70,000		69,698
TRW Automotive
#144A 4.45% 12/1/23		70,000		70,875
#144A 4.50% 3/1/21		40,000		40,600


				350,573


		Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Automobiles–0.14%
Daimler 2.75% 12/10/18	NOK		320,000	$	51,713
Ford Motor 7.45% 7/16/31			51,000		67,514
General Motors 3.50% 10/2/18			45,000		45,956
#Hyundai Capital America 144A 2.55% 2/6/19			50,000		50,445
Toyota Finance Australia 3.04% 12/20/16	NZD		50,000		37,661
Volkswagen Financial Services 2.25% 5/15/17	NOK		500,000		78,415


					331,704

Beverages–0.07%
#Pernod-Ricard 144A 5.75% 4/7/21			150,000		171,065


					171,065

Biotechnology–0.12%
Amgen 3.625% 5/22/24			45,000		44,681
Celgene
3.95% 10/15/20			105,000		111,382
4.625% 5/15/44			10,000		9,850
Gilead Sciences 3.70% 4/1/24			70,000		71,640
Immucor 11.125% 8/15/19			45,000		48,825


					286,378

Building Products–0.03%
Nortek 8.50% 4/15/21			60,000		64,800


					64,800

Capital Markets–0.15%
Jefferies Group
5.125% 1/20/23			20,000		21,294
6.45% 6/8/27			25,000		28,135
6.50% 1/20/43			15,000		16,631
Lazard Group 6.85% 6/15/17			158,000		178,132
#Nuveen Investments 144A 9.50% 10/15/20			55,000		64,075
State Street 3.10% 5/15/23			65,000		63,160


					371,427

Chemicals–0.46%
Celanese US Holdings 4.625% 11/15/22			45,000		44,325
CF Industries
5.15% 3/15/34			15,000		15,856
5.375% 3/15/44			50,000		52,522
6.875% 5/1/18			95,000		110,114
7.125% 5/1/20			50,000		60,390
Dow Chemical
3.50% 10/1/24			35,000		34,210
4.25% 10/1/34			75,000		72,454
8.55% 5/15/19			223,000		280,551


		Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Chemicals (continued)
Eastman Chemical 4.65% 10/15/44			20,000	$	19,129
Monsanto 4.40% 7/15/44			210,000		208,976
Mosaic 5.625% 11/15/43			140,000		156,840
PolyOne 5.25% 3/15/23			25,000		24,375
Rockwood Specialties Group 4.625% 10/15/20			20,000		20,725
#TPC Group 144A 8.75% 12/15/20			25,000		26,687


					1,127,154

Commercial Banks–0.93%
Abbey National Treasury Services 2.35% 9/10/19			180,000		177,903
Australia & New Zealand Banking Group
2.625% 12/10/18	CAD		50,000		45,377
•3.517% 11/6/18	AUD		12,000		10,620
#•Banco Santander Mexico Institucion de Banca Multiple Grupo Financiero Santand 144A 5.95% 1/30/24			200,000		211,500
BB&T 5.25% 11/1/19			165,000		185,373
#•BBVA Banco Continental 144A 5.25% 9/22/29			20,000		20,148
#BBVA Bancomer 144A 7.25% 4/22/20			100,000		113,700
City National 5.25% 9/15/20			45,000		50,113
Cooperatieve Centrale Raiffeisen-Boerenleenbank 4.875% 1/20/20	AUD		62,000		56,155
KeyBank 5.45% 3/3/16			250,000		265,895
•National City Bank 0.603% 6/7/17			335,000		333,930
Northern Trust 3.95% 10/30/25			30,000		31,124
#•PNC Preferred Funding Trust II 144A 1.457% 3/31/49			100,000		97,125
SVB Financial Group 5.375% 9/15/20			160,000		179,444
•USB Capital IX 3.50% 10/29/49			275,000		235,125
Wells Fargo
4.10% 6/3/26			195,000		194,583
•5.90% 12/29/49			40,000		40,850
Zions Bancorp 4.50% 6/13/23			20,000		20,978


					2,269,943

Commercial Services & Supplies–0.21%
#Algeco Scotsman Global Finance 144A 8.50% 10/15/18			200,000		206,000
Avis Budget Car Rental 5.50% 4/1/23			50,000		49,875
#Brambles USA 144A 3.95% 4/1/15			20,000		20,314


		Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Services & Supplies (continued)
HD Supply
7.50% 7/15/20			15,000	$	15,637
11.50% 7/15/20			30,000		34,687
#Prestige Brands 144A 5.375% 12/15/21			55,000		51,975
#Service Corp International 144A 5.375% 5/15/24			50,000		50,375
Spectrum Brands 6.375% 11/15/20			35,000		36,663
United Rentals North America 5.75% 11/15/24			55,000		55,825


					521,351

Computers & Peripherals–0.05%
NetApp 3.25% 12/15/22			40,000		39,088
#Seagate HDD Cayman 144A 4.75% 1/1/25			80,000		80,000


					119,088

Construction & Engineering–0.00%
URS 3.85% 4/1/17			10,000		10,327


					10,327

Consumer Finance–0.05%
General Motors Financial
3.00% 9/25/17			30,000		30,337
4.375% 9/25/21			35,000		35,831
SunTrust Banks 2.35% 11/1/18			60,000		60,202


					126,370

Containers & Packaging–0.17%
Ball 4.00% 11/15/23			85,000		79,475
Berry Plastics 5.50% 5/15/22			25,000		24,094
#BWAY Holding 144A 9.125% 8/15/21			50,000		50,500
#Consolidated Container 144A 10.125% 7/15/20			20,000		18,900
International Paper
3.65% 6/15/24			45,000		43,750
4.80% 6/15/44			5,000		4,861
#Plastipak Holdings 144A 6.50% 10/1/21			50,000		51,000
Rock Tenn
3.50% 3/1/20			55,000		55,986
4.00% 3/1/23			80,000		81,352


					409,918

Diversified Consumer Services–0.06%
#Red de Carreteras de Occidente 144A 9.00% 6/10/28	MXN		2,000,000		143,364


					143,364


		Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Financial Services–0.71%
Bank of America
4.20% 8/26/24			180,000	$	178,658
•6.25% 9/29/49			110,000		109,828
#Comcel Trust 144A 6.875% 2/6/24			200,000		211,500
#ERAC USA Finance 144A 5.25% 10/1/20			95,000		107,226
General Electric Capital
2.10% 12/11/19			70,000		69,668
3.45% 5/15/24			235,000		235,977
4.25% 1/17/18	NZD		50,000		38,653
6.00% 8/7/19			86,000		100,407
•7.125% 12/15/49			100,000		115,925
JPMorgan Chase
•0.865% 1/28/19			26,000		26,216
3.875% 9/10/24			65,000		63,800
•6.75% 8/29/49			105,000		110,827
Morgan Stanley
4.35% 9/8/26			190,000		187,165
5.00% 9/30/21	AUD		14,000		12,325
•National Rural Utilities Cooperative Finance 4.75% 4/30/43			60,000		59,475
#SUAM Finance 144A 4.875% 4/17/24			100,000		102,000


					1,729,650

Diversified Telecommunication Services–0.47%
AT&T 4.80% 6/15/44			160,000		158,260
Bell Canada 3.35% 3/22/23	CAD		19,000		16,767
CC Holdings GS V 3.849% 4/15/23			15,000		14,781
CenturyLink
5.80% 3/15/22			120,000		123,600
6.75% 12/1/23			45,000		48,431
Hughes Satellite Systems 7.625% 6/15/21			15,000		16,425
Intelsat Luxembourg 8.125% 6/1/23			115,000		120,463
#Level 3 Escrow II 144A 5.375% 8/15/22			55,000		54,313
Motorola Solutions 4.00% 9/1/24			65,000		63,576
#SBA Tower Trust 144A 2.24% 4/15/18			40,000		39,494
#SES 144A 3.60% 4/4/23			105,000		106,106
Telefonica Emisiones 6.421% 6/20/16			75,000		81,544
Verizon Communications
#144A 4.862% 8/21/46			169,000		169,890
5.15% 9/15/23			60,000		66,490
6.55% 9/15/43			23,000		28,778


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Telecommunication Services (continued)
Windstream
7.50% 4/1/23		15,000	$	15,450
7.75% 10/1/21		30,000		32,100


				1,156,468

Electric Utilities–0.58%
#American Transmission Systems 144A 5.25% 1/15/22		155,000		171,953
Berkshire Hathaway Energy 3.75% 11/15/23		110,000		113,056
Cleveland Electric Illuminating 5.50% 8/15/24		5,000		5,768
ComEd Financing III 6.35% 3/15/33		60,000		61,950
#•Electricite de France 144A 5.25% 12/29/49		200,000		203,750
Entergy Arkansas 3.70% 6/1/24		20,000		20,602
Great Plains Energy
4.85% 6/1/21		30,000		33,093
5.292% 6/15/22		40,000		45,573
Indiana Michigan Power 3.20% 3/15/23		15,000		14,964
IPALCO Enterprises 5.00% 5/1/18		45,000		47,644
ITC Holdings 3.65% 6/15/24		160,000		159,827
LG&E & KU Energy
3.75% 11/15/20		60,000		62,418
4.375% 10/1/21		115,000		123,910
#Metropolitan Edison 144A 4.00% 4/15/25		30,000		30,075
NextEra Energy Capital Holdings
2.40% 9/15/19		65,000		64,660
3.625% 6/15/23		25,000		25,358
NV Energy 6.25% 11/15/20		65,000		76,541
Pennsylvania Electric 5.20% 4/1/20		55,000		60,850
Public Service of Oklahoma 5.15% 12/1/19		75,000		83,774


				1,405,766

Electronic Equipment, Instruments & Components–0.06%
Thermo Fisher Scientific
2.40% 2/1/19		60,000		60,154
4.15% 2/1/24		85,000		88,176


				148,330

Energy Equipment & Services–0.12%
Bristow Group 6.25% 10/15/22		35,000		36,444
#Drill Rigs Holdings 144A 6.50% 10/1/17		90,000		90,000
Ensco 4.50% 10/1/24		65,000		65,349
Exterran Partners 6.00% 4/1/21		15,000		14,663


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Energy Equipment & Services (continued)
Hercules Offshore
#144A 6.75% 4/1/22		15,000	$	11,756
#144A 8.75% 7/15/21		15,000		13,125
Key Energy Services 6.75% 3/1/21		65,000		62,887


				294,224

Food Products–0.05%
Smithfield Foods 6.625% 8/15/22		25,000		26,500
Sysco
3.50% 10/2/24		45,000		45,216
4.35% 10/2/34		60,000		61,072


				132,788

Gas Utilities–0.02%
AmeriGas Finance 7.00% 5/20/22		40,000		42,100


				42,100

Health Care Equipment & Supplies–0.21%
Boston Scientific
2.65% 10/1/18		30,000		30,322
6.00% 1/15/20		80,000		91,314
CareFusion 6.375% 8/1/19		75,000		86,604
#Crimson Merger 144A 6.625% 5/15/22		50,000		45,625
Kinetic Concepts 10.50% 11/1/18		35,000		38,150
Zimmer Holdings
3.375% 11/30/21		90,000		91,682
4.625% 11/30/19		125,000		136,536


				520,233

Health Care Providers & Services–0.26%
Air Medical Group Holdings 9.25% 11/1/18		7,000		7,333
#Community Health Systems 144A 6.875% 2/1/22		25,000		26,125
DaVita Healthcare Partners 5.125% 7/15/24		90,000		88,594
#Fresenius Medical Care US Finance II 144A 5.875% 1/31/22		40,000		42,600
HCA 5.00% 3/15/24		160,000		157,800
Highmark
#144A 4.75% 5/15/21		40,000		40,662
#144A 6.125% 5/15/41		20,000		20,251
McKesson 3.796% 3/15/24		135,000		136,396
#Milacron 144A 7.75% 2/15/21		30,000		31,725
Quest Diagnostics 2.70% 4/1/19		30,000		30,181
Tenet Healthcare 6.00% 10/1/20		58,000		61,480


				643,147


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Hotels, Restaurants & Leisure–0.17%
#Caesars Growth Properties Holdings 144A 9.375% 5/1/22		35,000	$	30,756
International Game Technology 5.35% 10/15/23		75,000		77,265
#Landry’s 144A 9.375% 5/1/20		20,000		21,250
Marriott International 3.375% 10/15/20		40,000		41,099
MGM Resorts International 11.375% 3/1/18		40,000		48,000
#PF Chang’s China Bistro 144A 10.25% 6/30/20		15,000		14,963
Pinnacle Entertainment 7.50% 4/15/21		40,000		41,800
Starwood Hotels & Resorts Worldwide
3.75% 3/15/25		35,000		34,559
4.50% 10/1/34		25,000		24,389
Wyndham Worldwide 5.625% 3/1/21		55,000		61,148
Wynn Las Vegas 5.375% 3/15/22		15,000		15,337


				410,566

Independent Power Producers & Energy Traders–0.08%
AES 5.50% 3/15/24		45,000		43,987
Calpine 5.375% 1/15/23		30,000		29,063
Exelon Generation 4.25% 6/15/22		95,000		98,065
#NRG Energy 144A 6.25% 5/1/24		20,000		20,150


				191,265

Industrial Conglomerates–0.04%
#Gates Global 144A 6.00% 7/15/22		90,000		85,050


				85,050

Insurance–0.35%
•Allstate 5.75% 8/15/53		55,000		58,678
American International Group 8.25% 8/15/18		100,000		122,249
Berkshire Hathaway Finance 2.90% 10/15/20		55,000		55,984
•Chubb 6.375% 3/29/67		85,000		93,606
#Five Corners Funding Trust 144A 4.419% 11/15/23		100,000		104,864
#Hockey Merger 144A 7.875% 10/1/21		45,000		46,294
•ING US 5.65% 5/15/53		35,000		35,350
#Liberty Mutual Group 144A 4.95% 5/1/22		20,000		21,566
MetLife
3.60% 4/10/24		55,000		55,696
6.817% 8/15/18		40,000		46,950
#Onex USI Acquisition 144A 7.75% 1/15/21		10,000		10,000


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Insurance (continued)
Prudential Financial
•5.625% 6/15/43		20,000	$	20,944
•5.875% 9/15/42		55,000		58,575
Teachers Insurance & Annuity Association of America
#•144A 4.375% 9/15/54		25,000		25,245
#144A 4.90% 9/15/44		45,000		46,042
•XL Group 6.50% 12/31/49		65,000		63,050


				865,093

Internet & Catalog Retail–0.04%
Expedia 4.50% 8/15/24		35,000		34,757
#Netflix 144A 5.75% 3/1/24		65,000		67,275


				102,032

Internet Software & Services–0.12%
Baidu 3.25% 8/6/18		200,000		206,289
Equinix
4.875% 4/1/20		23,000		22,885
5.375% 4/1/23		52,000		51,740
Zayo Group 10.125% 7/1/20		20,000		22,625


				303,539

IT Services–0.06%
First Data
11.25% 1/15/21		49,000		55,921
11.75% 8/15/21		20,000		23,250
NCR 6.375% 12/15/23		55,000		57,887
Xerox 6.35% 5/15/18		5,000		5,718


				142,776

Machinery–0.12%
Crane
2.75% 12/15/18		15,000		15,283
4.45% 12/15/23		60,000		63,015
Ingersoll-Rand Global Holding
4.25% 6/15/23		120,000		126,072
LSB Industries 7.75% 8/1/19		10,000		10,650
Meritor 6.75% 6/15/21		25,000		26,125
Trinity Industries 4.55% 10/1/24		50,000		50,187


				291,332

Media–0.71%
CCO Holdings 5.25% 9/30/22		25,000		24,563
#Columbus International 144A
7.375% 3/30/21		200,000		208,750
Comcast
3.375% 2/15/25		195,000		192,760
4.20% 8/15/34		35,000		34,815
4.75% 3/1/44		15,000		15,889
#CSC Holdings 144A
5.25% 6/1/24		65,000		62,563
DIRECTV Holdings
4.45% 4/1/24		135,000		140,869


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Media (continued)
DIRECTV Holdings (continued)
5.15% 3/15/42		10,000	$	10,149
DISH DBS 5.00% 3/15/23		75,000		72,141
Gray Television 7.50% 10/1/20		45,000		46,237
Historic TW 6.875% 6/15/18		175,000		204,571
‡iHeartMedia PIK 14.00% 2/1/21		5,050		4,633
Lamar Media 5.00% 5/1/23		35,000		33,863
#MDC Partners 144A
6.75% 4/1/20		35,000		36,225
#Nielsen Luxembourg 144A
5.50% 10/1/21		30,000		30,300
#SES Global Americas Holdings
144A 5.30% 3/25/44		90,000		95,449
Sinclair Television Group
5.375% 4/1/21		45,000		44,550
6.125% 10/1/22		15,000		15,337
Time Warner 3.55% 6/1/24		15,000		14,815
Time Warner Cable
4.00% 9/1/21		40,000		42,152
8.25% 4/1/19		108,000		134,642
#Univision Communications
144A 5.125% 5/15/23		75,000		76,313
Viacom 5.25% 4/1/44		145,000		150,423
WPP Finance 2010
5.625% 11/15/43		45,000		49,073


				1,741,082

Metals & Mining–0.32%
AK Steel 7.625% 5/15/20		25,000		24,813
ArcelorMittal 10.35% 6/1/19		145,000		177,444
#FMG Resources August 2006
144A 6.875% 4/1/22		136,000		138,890
#Gerdau Holdings 144A
7.00% 1/20/20		100,000		113,000
Novelis 8.75% 12/15/20		50,000		53,687
Ryerson
9.00% 10/15/17		25,000		26,437
11.25% 10/15/18		6,000		6,630
#Tupy Overseas 144A
6.625% 7/17/24		200,000		204,500
#Yamana Gold 144A
4.95% 7/15/24		40,000		39,895


				785,296

Multiline Retail–0.01%
Target 2.30% 6/26/19		30,000		30,077


				30,077

Multi-Utilities–0.32%
Ameren Illinois 9.75% 11/15/18		263,000		340,336
American Water Capital
3.40% 3/1/25		45,000		44,909
CMS Energy 6.25% 2/1/20		60,000		70,386


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Multi-Utilities (continued)
•Integrys Energy Group 6.11% 12/1/66		85,000	$	86,726
NiSource Finance 6.125% 3/1/22		45,000		52,770
Puget Energy 6.00% 9/1/21		35,000		40,758
SCANA 4.125% 2/1/22		60,000		62,000
•Wisconsin Energy 6.25% 5/15/67		80,000		82,850


				780,735

Oil, Gas & Consumable Fuels–1.47%
Anadarko Petroleum 3.45% 7/15/24		40,000		39,368
California Resources
#144A 5.50% 9/15/21		35,000		35,569
#144A 6.00% 11/15/24		30,000		30,900
Chaparral Energy 7.625% 11/15/22		10,000		10,300
Chesapeake Energy 5.75% 3/15/23		10,000		10,700
Cimarex Energy 4.375% 6/1/24		35,000		35,350
CNOOC Nexen Finance 2014 4.25% 4/30/24		200,000		203,099
Continental Resources 4.50% 4/15/23		130,000		134,894
El Paso Pipeline Partners Operating 4.30% 5/1/24		115,000		114,822
•Enbridge Energy Partners 8.05% 10/1/37		125,000		141,250
Energy Transfer Partners
5.95% 10/1/43		115,000		123,722
9.70% 3/15/19		65,000		83,255
#Energy XXI Gulf Coast 144A 6.875% 3/15/24		45,000		42,413
EnLink Midstream Partners 4.40% 4/1/24		100,000		103,989
•Enterprise Products Operating 7.034% 1/15/68		130,000		147,009
Halcon Resources 8.875% 5/15/21		40,000		39,600
#KazMunayGas National JSC 144A 9.125% 7/2/18		100,000		117,375
Kinder Morgan Energy Partners 9.00% 2/1/19		115,000		143,418
Laredo Petroleum 7.375% 5/1/22		50,000		52,750
Marathon Petroleum 4.75% 9/15/44		160,000		154,195
Midstates Petroleum 9.25% 6/1/21		70,000		69,650
Murphy Oil USA 6.00% 8/15/23		60,000		62,850


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Newfield Exploration 5.625% 7/1/24		45,000	$	48,375
Oasis Petroleum 6.875% 3/15/22		45,000		47,700
#Pacific Rubiales Energy 144A 7.25% 12/12/21		100,000		109,250
PDC Energy 7.75% 10/15/22		15,000		16,125
Petrobras Global Finance 4.875% 3/17/20		95,000		96,492
Petrobras International Finance 5.375% 1/27/21		28,000		28,443
Petroleos de Venezuela 9.00% 11/17/21		35,000		23,537
Petroleos Mexicanos
6.00% 3/5/20		100,000		114,250
6.50% 6/2/41		25,000		29,043
Plains All American Pipeline 8.75% 5/1/19		120,000		152,106
Plains Exploration & Production 6.50% 11/15/20		23,000		25,245
Pride International 6.875% 8/15/20		210,000		247,889
Samson Investment 39.75% 2/15/20		55,000		50,187
SandRidge Energy 8.125% 10/15/22		85,000		85,319
Statoil 2.90% 11/8/20		35,000		35,741
Sunoco Logistics Partners Operations 3.45% 1/15/23		30,000		29,149
Talisman Energy 5.50% 5/15/42		90,000		91,941
•TransCanada PipeLines 6.35% 5/15/67		130,000		134,550
Williams 4.55% 6/24/24		40,000		39,648
Williams Partners 7.25% 2/1/17		95,000		107,041
#Woodside Finance 144A 8.75% 3/1/19		105,000		131,342
#YPF 144A 8.75% 4/4/24		34,000		34,765


				3,574,616

Paper & Forest Products–0.10%
Fibria Overseas Finance 5.25% 5/12/24		35,000		34,606
Georgia-Pacific 8.00% 1/15/24		125,000		167,681
International Paper 6.00% 11/15/41		40,000		45,660


				247,947

Pharmaceuticals–0.15%
Express Scripts Holding
2.25% 6/15/19		40,000		39,483
3.50% 6/15/24		90,000		88,304
#Forest Laboratories 144A 4.375% 2/1/19		50,000		52,680


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Pharmaceuticals (continued)
#Salix Pharmaceuticals 144A
6.00% 1/15/21		45,000	$	48,825
#Valeant Pharmaceuticals
International 144A
5.625% 12/1/21		15,000		14,981
#Valeant Pharmaceuticals
International Escrow 144A
6.375% 10/15/20		25,000		25,781
Zoetis 3.25% 2/1/23		90,000		88,175


				358,229

Real Estate Investment Trusts–0.41%
Alexandria Real Estate Equities
3.90% 6/15/23		95,000		94,837
4.50% 7/30/29		25,000		25,071
American Tower Trust I
#144A 1.551% 3/15/43		20,000		19,692
#144A 3.07% 3/15/23		55,000		54,160
Brandywine Operating
Partnership 4.10% 10/1/24		10,000		9,900
CBL & Associates
5.25% 12/1/23		40,000		43,025
Corporate Office Properties
3.60% 5/15/23		40,000		38,327
5.25% 2/15/24		40,000		42,708
DDR
4.75% 4/15/18		65,000		70,179
7.50% 4/1/17		10,000		11,381
7.875% 9/1/20		85,000		105,751
Excel Trust 4.625% 5/15/24		25,000		25,461
Geo Group 5.875% 10/15/24		35,000		35,263
Healthcare Trust of America
Holdings 3.375% 7/15/21		25,000		24,912
Hospitality Properties Trust
4.50% 3/15/25		45,000		44,545
Host Hotels & Resorts
3.75% 10/15/23		45,000		44,582
4.75% 3/1/23		65,000		69,098
5.875% 6/15/19		30,000		31,792
Regency Centers 4.80% 4/15/21		95,000		103,588
Weyerhaeuser 4.625% 9/15/23		95,000		100,803


				995,075

Real Estate Management & Development–0.02%
WP Carey 4.60% 4/1/24		35,000		36,247


				36,247

Road & Rail–0.06%
Burlington Northern Santa Fe
3.40% 9/1/24		95,000		93,871
Norfolk Southern 3.85% 1/15/24		40,000		41,444


				135,315


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Semiconductors & Semiconductor Equipment–0.08%
Broadcom 4.50% 8/1/34		10,000	$	10,235
National Semiconductor
6.60% 6/15/17		165,000		188,302


				198,537

Software–0.12%
#Activision Blizzard 144A
6.125% 9/15/23		50,000		53,250
#BMC Software Finance 144A
8.125% 7/15/21		30,000		28,950
#MTS International Funding
144A 8.625% 6/22/20		100,000		106,500
Oracle
3.40% 7/8/24		75,000		74,857
4.50% 7/8/44		30,000		30,444


				294,001

Specialty Retail–0.17%
Bed Bath & Beyond
4.915% 8/1/34		50,000		49,843
5.165% 8/1/44		45,000		44,161
#~Chinos Intermediate Holdings
144A PIK 7.75% 5/1/19		45,000		42,750
QVC
4.375% 3/15/23		85,000		84,952
#144A 5.45% 8/15/34		55,000		54,183
Sally Holdings 5.75% 6/1/22		30,000		30,750
Signet UK Finance
4.70% 6/15/24		115,000		115,856


				422,495

Textiles, Apparel & Luxury Goods–0.02%
Levi Strauss 6.875% 5/1/22		40,000		42,000


				42,000

Transportation Infrastructure–0.07%
AP Moeller-Maersk
#144A 2.55% 9/22/19		25,000		25,090
#144A 3.75% 9/22/24		40,000		40,189
#DP World 144A 6.85% 7/2/37		100,000		112,630


				177,909

Wireless Telecommunication Services–0.16%
#Crown Castle Towers 144A
4.883% 8/15/20		210,000		231,986
Sprint
#144A 7.125% 6/15/24		75,000		75,844
#144A 7.875% 9/15/23		20,000		21,250
T-Mobile USA 6.125% 1/15/22		60,000		60,525


				389,605

Total Corporate Bonds (Cost $24,450,465)				25,218,639


	Principal Amount°		Value (U.S. $)

MUNICIPAL BONDS–0.07%
Golden State, California Tobacco Securitization Asset-Back Senior Notes Series A-1
5.125% 6/1/47		20,000	$	14,709
5.75% 6/1/47		25,000		19,942
New Jersey State Transportation Trust Fund Series AA 5.00% 6/15/44		25,000		26,593
New York City, New York Series I 5.00% 8/1/22		20,000		23,958
New York State Thruway Authority Series A 5.00% 5/1/19		25,000		29,013
State of Maryland Local Facilities Series A 5.00% 8/1/21		25,000		30,333
Texas Private Activity Bond Surface Transportation Senior Lien Revenue Bond (NTE Mobility) 6.75% 6/30/43		20,000		24,038

Total Municipal Bonds (Cost $158,749)				168,586

NON-AGENCY ASSET-BACKED SECURITIES–0.47%
AEP Texas Central Transition Funding II Series 2006-A A4 5.17% 1/1/18		100,000		108,043
•Ally Master Owner Trust Series 2013-2 A 0.604% 4/15/18		100,000		100,156
•American Express Credit Account Master Trust Series 2013-2 A 0.574% 5/17/21		100,000		100,398
#Applebee’s Series 2014-1 A2 144A 4.277% 9/5/44		70,000		69,334
#ARL Second Series 2014-1A A1 144A 2.92% 6/15/44		97,427		96,979
Avis Budget Rental Car Funding AESOP
#Series 2011-3A A 144A 3.41% 11/20/17		100,000		104,128
#Series 2013-1A A 144A 1.92% 9/20/19		100,000		99,127
#Series 2014-1A A 144A 2.46% 7/20/20		100,000		99,958
•BA Credit Card Trust Series 2014-A3 A 0.444% 1/15/20		35,000		35,005
#HOA Funding Series 2014-1A A2 144A 4.846% 8/20/44		75,000		74,648
#MMAF Equipment Finance Series 2014-AA A4 144A 1.59% 2/8/22		100,000		98,966
#•Trafigura Securitisation Finance Series 2012-1A A 144A 2.554% 10/15/15		150,000		150,621


Total Non-Agency Asset-Backed Securities (Cost $1,141,008)				1,137,363


	Principal Amount°		Value (U.S. $)

NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.13%
Bank of America Alternative Loan Trust
Series 2005-3 2A1 5.50% 4/25/20		3,967	$	4,095
Series 2005-6 7A1 5.50% 7/25/20		3,675		3,745
•ChaseFlex Trust Series 2006-1 A4 5.099% 6/25/36		100,000		89,469
Credit Suisse First Boston Mortgage Securities Series 2005-5 6A3 5.00% 7/25/35		32,951		33,020
•GSR Mortgage Loan Trust Series 2006-AR1 3A1 2.873% 1/25/36		20,079		18,444
JPMorgan Mortgage Trust
Series 2006-S1 1A1 6.00% 4/25/36		33,204		33,536
•Series 2007-A1 7A4 2.55% 7/25/35		20,368		18,374
#•Sequoia Mortgage Trust Series 2013-11 B1 144A 3.716% 9/25/43		97,758		95,179
¿Structured Asset Securities Corporation Mortgage Pass Through Certificates Series 2004-20 2A1 5.50% 11/25/34		18,497		18,886


Total Non-Agency Collateralized Mortgage Obligations (Cost $274,305)				314,748

DREGIONAL BONDS–0.01%
Australia–0.01%
Queensland Treasury #144A 4.75% 7/21/25	AUD	14,000		12,992
Canada–0.00%
Province of Ontario Canada 3.45% 6/2/45	CAD	12,000		10,440


Total Regional Bonds (Cost $23,954)				23,432

«SENIOR SECURED LOANS–1.85%
Activision Blizzard Tranche B 1st Lien 3.25% 9/12/20		118,650		118,573
Allegion US Holding Tranche B 3.00% 12/26/20		143,913		143,373
Aramark Tranche E 3.25% 9/7/19		67,900		66,839
Azure Midstream Tranche B 6.50% 10/21/18		48,734		48,369
BJ’s Wholesale Club Tranche B 1st Lien 4.50% 9/26/19		133,813		131,994
Caesars Growth Partners Tranche B 1st Lien 6.25% 5/8/21		44,888		42,713
Calpine Construction Finance Tranche B 3.00% 5/1/20		108,276		104,973


	Principal Amount°		Value (U.S. $)

«SENIOR SECURED LOANS (continued)
Charter Communications Tranche B 1st Lien 4.25% 8/12/21		60,000	$	59,928
Chrysler Group Tranche B 1st Lien 3.50% 5/24/17		9,847		9,783
Clear Channel Communications Tranche B 3.65% 1/29/16		138,065		137,013
Community Health Systems Tranche D 4.25% 1/27/21		89,767		89,615
Community Health Systems Tranche E 3.25% 1/25/17		24,370		24,279
Delta Air Lines Tranche B 1st Lien 3.25% 4/20/17		58,322		57,724
Drillships Financing Holdings Tranche B1 6.00% 2/17/21		44,550		42,824
Emdeon 1st Lien 3.75% 11/2/18		72,681		71,977
First Data Tranche B 1st Lien 4.00% 3/24/21		225,450		222,703
HCA Tranche B5 1st Lien 2.75% 3/31/17		116,820		116,236
Hilton Worldwide Finance Tranche B2 3.50% 9/23/20		254,400		250,795
Huntsman International Tranche B 3.75% 10/11/20		190,000		188,337
IASIS Healthcare Tranche B 1st Lien 4.50% 5/3/18		63,379		63,266
Immucor Tranche B2 5.00% 8/19/18		78,294		77,902
Infor US Tranche B5 1st Lien 3.75% 6/3/20		177,205		173,495
Intelsat Jackson Holdings Tranche B2 3.75% 6/30/19		134,296		132,399
KIK Custom Products 1st Lien 5.50% 5/17/19		396,490		397,069
Landry’s Tranche B 4.00% 4/24/18		40,695		40,430
Level 3 Financing Tranche B 4.00% 1/15/20		75,000		73,772
Moxie Liberty Tranche B 7.50% 8/21/20		5,000		5,113
NEP/NCP Tranche B 1st Lien 4.25% 1/22/20		44,775		43,805
Novelis Tranche B 3.75% 3/10/17		47,144		46,673
Nuveen Investments 1st Lien 4.00% 5/13/17		65,000		64,924
Nuveen Investments 2nd Lien 6.50% 2/28/19		230,000		231,064
OSI Restaurants Tranche B 1st Lien 3.50% 10/26/19		31,500		31,457
Patheon 4.25% 1/23/21		24,938		24,421


		Principal Amount°		Value (U.S. $)

«SENIOR SECURED LOANS (continued)
Republic of Angola 6.25% 12/16/23			92,000	$	92,000
Samson Investment 2nd Lien 5.00% 9/25/18			95,000		92,031
Scientific Games International 4.25% 5/22/20			69,475		68,260
Sensus USA 2nd Lien 8.50% 4/13/18			80,000		79,800
Smart & Final Tranche B 1st Lien 4.75% 11/15/19			23,097		23,083
Sprouts Farmers 4.00% 4/12/20			51,047		50,845
Univision Communications Tranche C4 4.00% 3/1/20			186,192		182,992
USI Insurance Services Tranche B 1st Lien 4.25% 12/3/18			54,042		53,163
Valeant Pharmaceuticals Tranche BE 3.75% 8/5/20			55,734		55,162
Wide Open West Finance 4.75% 3/27/19			275,800		275,339
Zayo Group Tranche B 1st Lien 4.00% 7/2/19			214,338		211,646


Total Senior Secured Loans (Cost $4,539,943)					4,518,159

DSOVEREIGN BONDS–0.36%
Brazil–0.02%
Brazil Notas do Tesouro Nacional Series F
10.00% 1/1/17	BRL		39,000		15,237
10.00% 1/1/21	BRL		97,000		35,681


					50,918

Colombia–0.02%
Colombia Government International Bond
4.375% 3/21/23	COP		90,000,000		38,511
9.85% 6/28/27	COP		37,000,000		23,143


					61,654

Iceland–0.05%
#Republic of Iceland 144A 5.875% 5/11/22			100,000		112,818


					112,818

Japan–0.01%
Japanese Government CPI Linked Bond 0.10% 3/10/24	JPY		2,160,900		21,252


					21,252

Mexico–0.03%
Mexican Bonos 6.50% 6/10/21	MXN		176,000		13,734

Principal
Amount°

Value
(U.S. $)

DSOVEREIGN BONDS (continued)

Mexico (continued)

Mexican Bonos (continued)
6.50% 6/9/22

MXN

673,000

52,020

65,754

Norway–0.01%

Kommunalbanken
5.00% 3/28/19

NZD

24,000

19,018

19,018

Poland–0.01%

Poland Government Bond

^2.242% 7/25/16

PLN

49,000

14,283

5.25% 10/25/17

PLN

54,000

17,823

32,106

Portugal–0.01%

#Portugal Government International Bond 144A
5.125% 10/15/24

36,000

37,333

37,333

Republic of Korea–0.03%

Korea Treasury Inflation-Linked Bond
1.125% 6/10/23

KRW

76,845,199

70,735

70,735

Romania–0.01%

#Romanian Government International Bond 144A
4.875% 1/22/24

32,000

34,080

34,080

South Africa–0.03%

South Africa Government Bond
8.00% 1/31/30

ZAR

922,000

76,769

76,769

Sri Lanka–0.09%

#Sri Lanka Government International Bond 144A
6.00% 1/14/19

200,000

211,500

211,500

Sweden–0.01%

Sweden Government Bond

1.50% 11/13/23

SEK

150,000

21,052

2.50% 5/12/25

SEK

5,000

762

21,814

Principal
Amount°

Value
(U.S. $)

DSOVEREIGN BONDS (continued)

United Kingdom–0.03%

United Kingdom Gilt Inflation-Linked Bond
0.125% 3/22/24

GBP

41,185

70,644

70,644

Total Sovereign Bonds
(Cost $890,413)

886,395

SUPRANATIONAL BANKS–0.03%

European Bank for Reconstruction & Development
6.00% 3/3/16

INR

2,300,000

37,058

Inter-American Development Bank
7.25% 7/17/17

IDR

170,000,000

13,870

International Bank for Reconstruction & Development
4.625% 10/6/21

NZD

13,000

10,102

Total Supranational Banks
(Cost $62,151)

61,030

U.S. TREASURY OBLIGATIONS–1.31%

U.S. Treasury Bond
3.125% 8/15/44

1,455,000

1,431,925

U.S. Treasury Notes

1.75% 9/30/19

5,000

4,994

¥2.375% 8/15/24

1,775,000

1,754,616

Total U.S. Treasury Obligations
(Cost $3,198,339)

3,191,535

Number of
Shares

MONEY MARKET FUND–0.06%

Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares

153,133

Total Money Market Fund
(Cost $153,133)

153,133

Principal
Amount°

SHORT-TERM INVESTMENT–3.38%

≠Discounted Commercial Paper–3.38%

Abbey National North America
0.002% 10/1/14

8,260,000

Total Short-Term Investment
(Cost $8,260,000)

8,260,000

The following foreign currency exchange contracts and futures contracts were outstanding at September 30, 2014:

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

COMMON STOCK–33.88%
U.S. MARKETS–21.38%
Aerospace & Defense–0.67%
Boeing		950	$	121,011
†Esterline Technologies		1,210		134,637
Honeywell International		1,600		148,992
†KEYW Holding		6,370		70,516
Lockheed Martin		950		173,641
Northrop Grumman		5,200		685,152
Raytheon		6,800		691,016
Rockwell Collins		700		54,950
United Technologies		1,600		168,960


				2,248,875

Air Freight & Logistics–0.09%
FedEx		1,250		201,813
†XPO Logistics		2,880		108,490


				310,303

Auto Components–0.25%
Borg Warner		1,450		76,285
Johnson Controls		15,000		660,000
†Tenneco		1,840		96,250


				832,535

Automobiles–0.04%
Ford Motor		9,750		144,203


				144,203

Banks–0.72%
BB&T		18,100		673,501
BBCN Bancorp		4,300		62,737
Bryn Mawr Bank		810		22,947
Cardinal Financial		4,160		71,011
Citigroup		4,400		228,008
City Holding		1,560		65,723
†First NBC Bank Holding		1,930		63,207
Flushing Financial		2,770		50,608
@Independent Bank (Massachusetts)		1,850		66,082
JPMorgan Chase		5,400		325,296
Prosperity Bancshares		1,510		86,327
Sterling Bancorp		6,470		82,751
Susquehanna Bancshares		6,980		69,800
†Texas Capital Bancshares		1,710		98,633
Webster Financial		2,540		74,016
Wells Fargo		5,400		280,098
†Western Alliance Bancorp		3,450		82,455


				2,403,200

Beverages–0.10%
Coca-Cola		1,650		70,389
PepsiCo		3,000		279,270


				349,659

Biotechnology–0.72%
†Acorda Therapeutics		2,330		78,940


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Biotechnology (continued)
†Alkermes		1,800	$	77,166
†Celgene		17,100		1,620,738
†Cepheid		2,290		100,829
†Gilead Sciences		2,710		288,479
†Isis Pharmaceuticals		1,130		43,878
†NPS Pharmaceuticals		2,850		74,100
†Spectrum Pharmaceuticals		5,240		42,654
†Vertex Pharmaceuticals		850		95,463


				2,422,247

Building Products–0.02%
AAON		4,435		75,439
†Continental Building Products		432		6,307


				81,746

Capital Markets–0.47%
Ameriprise Financial		1,000		123,380
Bank of New York Mellon		17,200		666,156
BlackRock		400		131,328
Evercore Partners Class A		3,050		143,350
Greenhill		1,010		46,955
Invesco		3,100		122,388
Raymond James Financial		2,450		131,271
State Street		1,800		132,498
†Stifel Financial		1,680		78,775


				1,576,101

Chemicals–0.40%
Axiall		1,780		63,742
†Chemtura		3,750		87,487
duPont (E.I.) deNemours		11,628		834,425
Eastman Chemical		1,700		137,513
Huntsman		3,300		85,767
Innophos Holdings		1,050		57,845
Quaker Chemical		510		36,562
†Taminco		1,630		42,543


				1,345,884

Commercial Services & Supplies–0.33%
McGrath RentCorp		2,450		83,790
Republic Services		2,250		87,795
Tetra Tech		2,430		60,701
United Stationers		2,340		87,914
US Ecology		1,690		79,024
Waste Management		14,600		693,938


				1,093,162

Communications Equipment–0.68%
Cisco Systems		32,100		807,957
†NETGEAR		1,970		61,563
Plantronics		1,380		65,936


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Communications Equipment (continued)
QUALCOMM		17,965	$	1,343,243


				2,278,699

Construction & Engineering–0.05%
Granite Construction		2,250		71,573
†MasTec		1,280		39,194
†MYR Group		1,880		45,270


				156,037

Consumer Finance–0.06%
Capital One Financial		2,450		199,969


				199,969

Containers & Packaging–0.04%
MeadWestvaco		3,450		141,243


				141,243

Diversified Financial Services–0.32%
CME Group		4,000		319,820
IntercontinentalExchange Group		3,930		766,547


				1,086,367

Diversified Telecommunication Services–0.53%
AT&T		26,457		932,345
Atlantic Tele-Network		900		48,510
†inContact		8,010		69,647
Verizon Communications		14,460		722,855


				1,773,357

Electric Utilities–0.28%
Cleco		1,690		81,373
Edison International		13,350		746,532
OGE Energy		3,350		124,319


				952,224

Electrical Equipment–0.04%
Acuity Brands		280		32,959
Eaton		1,600		101,392


				134,351

Electronic Equipment, Instruments & Components–0.07%
Anixter International		980		83,143
†FARO Technologies		1,820		92,365
†Rofin-Sinar Technologies		3,010		69,411


				244,919

Energy Equipment & Services–0.35%
Bristow Group		600		40,320
†C&J Energy Services		2,020		61,711
Core Laboratories		600		87,810
Halliburton		10,000		645,100
†Pioneer Energy Services		1,860		26,077
†RigNet		1,790		72,405


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Energy Equipment & Services (continued)
Schlumberger		2,350	$	238,971


				1,172,394

Food & Staples Retailing–0.62%
Casey’s General Stores		2,390		171,363
CVS Health		11,240		894,592
Walgreen		17,175		1,017,962


				2,083,917

Food Products–0.66%
Archer-Daniels-Midland		13,400		684,740
General Mills		2,750		138,737
J&J Snack Foods		790		73,912
Kraft Foods Group		11,833		667,381
Mondelez International Class A		18,900		647,609


				2,212,379

Health Care Equipment & Supplies–0.33%
Baxter International		9,400		674,638
Conmed		2,090		76,996
CryoLife		5,020		49,547
†DexCom		2,080		83,179
†Merit Medical Systems		2,927		34,773
†Quidel		2,860		76,848
West Pharmaceutical Services		2,460		110,110


				1,106,091

Health Care Providers & Services–0.60%
†Air Methods		2,010		111,655
Cardinal Health		9,100		681,772
†Cross Country Healthcare		5,090		47,286
†Express Scripts Holding		2,750		194,233
Quest Diagnostics		10,900		661,412
UnitedHealth Group		2,750		237,187
†WellCare Health Plans		1,080		65,167


				1,998,712

Hotels, Restaurants & Leisure–0.21%
†Buffalo Wild Wings		640		85,933
Cheesecake Factory		1,950		88,725
†Del Frisco’s Restaurant Group		2,990		57,229
Jack in the Box		1,950		132,971
McDonald’s		850		80,589
†Popeyes Louisiana Kitchen		2,480		100,440
Starbucks		2,200		166,012


				711,899

Household Products–0.13%
Kimberly-Clark		1,100		118,327
Procter & Gamble		3,920		328,261


				446,588


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Industrial Conglomerates–0.09%
General Electric		11,350	$	290,787


				290,787

Insurance–0.67%
AFLAC		2,450		142,713
Allstate		11,500		705,755
American Equity Investment Life Holding		4,100		93,808
AMERISAFE		1,410		55,145
Fidelity & Guaranty Life		2,990		63,837
@Infinity Property & Casualty		880		56,329
Marsh & McLennan		13,000		680,420
Primerica		1,450		69,919
Prudential Financial		1,200		105,528
@Selective Insurance Group		2,660		58,892
Travelers		1,680		157,819
United Fire Group		1,840		51,097


				2,241,262

Internet & Catalog Retail–0.59%
†Liberty Interactive Class A		34,125		973,245
†Priceline Group		805		932,657
†Shutterfly		1,550		75,547


				1,981,449

Internet Software & Services–1.14%
†Brightcove		4,558		25,434
†eBay		16,525		935,811
†Equinix		3,500		743,680
†Facebook Class A		2,400		189,696
†Google		955		551,379
†Google Class A		1,400		823,774
†GrubHub		940		32,186
j2 Global		1,780		87,861
†SciQuest		4,090		61,514
†Yahoo		3,400		138,550
†Yelp		3,675		250,819


				3,840,704

IT Services–1.07%
Accenture Class A		2,200		178,904
†ExlService Holdings		1,180		28,804
International Business Machines		290		55,051
†InterXion Holding		2,520		69,779
MasterCard Class A		16,400		1,212,288
†TeleTech Holdings		2,640		64,891
Visa Class A		6,125		1,306,891
Xerox		51,000		674,730


				3,591,338


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Life Sciences Tools & Services–0.06%
Thermo Fisher Scientific		1,700	$	206,890


				206,890

Machinery–0.19%
Barnes Group		2,610		79,213
Caterpillar		650		64,369
†Chart Industries		440		26,897
Columbus McKinnon		3,000		65,970
Cummins		650		85,787
Deere		750		61,493
ESCO Technologies		1,430		49,735
Kadant		2,280		89,034
Parker Hannifin		950		108,443


				630,941

Media–0.11%
Cinemark Holdings		1,250		42,550
Comcast Class A		3,300		176,550
National CineMedia		4,010		58,185
Regal Entertainment Group Class A		1,850		36,778
Viacom Class B		900		69,246


				383,309

Metals & Mining–0.05%
Kaiser Aluminum		980		74,696
Materion		1,430		43,858
Worthington Industries		1,630		60,669


				179,223

Multiline Retail–0.09%
Macy’s		2,750		159,995
Nordstrom		1,900		129,903


				289,898

Multi-Utilities–0.09%
MDU Resources Group		3,700		102,897
NorthWestern		1,580		71,669
Sempra Energy		1,200		126,456


				301,022

Oil, Gas & Consumable Fuels–1.77%
†Bonanza Creek Energy		450		25,605
†Carrizo Oil & Gas		1,240		66,737
Chevron		8,221		980,930
ConocoPhillips		9,500		726,940
†Diamondback Energy		630		47,111
EOG Resources		12,325		1,220,421
Exxon Mobil		3,000		282,150
†@Jones Energy Class A		3,150		59,157
Kinder Morgan		10,550		404,487
†Kodiak Oil & Gas		5,620		76,263
Marathon Oil		20,115		756,123
Occidental Petroleum		8,600		826,890


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Oil, Gas & Consumable Fuels (continued)
†Parsley Energy Class A		720	$	15,358
†Rosetta Resources		1,770		78,871
†RSP Permian		1,140		29,138
Williams		6,275		347,321


				5,943,502

Paper & Forest Products–0.07%
†Boise Cascade		2,620		78,967
International Paper		1,600		76,384
Neenah Paper		1,460		78,081


				233,432

Pharmaceuticals–1.48%
AbbVie		4,150		239,704
†Actavis		450		108,576
†Akorn		2,210		80,157
Allergan		7,025		1,251,785
†Auxilium Pharmaceuticals		2,510		74,923
Johnson & Johnson		6,989		744,958
†Medicines		1,370		30,578
Merck		15,997		948,302
Perrigo		3,090		464,087
Pfizer		33,014		976,224
†Prestige Brands Holdings		1,770		57,295


				4,976,589

Professional Services–0.08%
Kforce		4,630		90,609
Nielsen Holdings		2,100		93,093
†WageWorks		2,040		92,881


				276,583

Real Estate Investment Trusts–1.94%
American Campus Communities		1,000		36,450
American Realty Capital Properties		3,525		42,511
American Tower		1,850		173,215
Apartment Investment & Management		1,750		55,685
AvalonBay Communities		1,250		176,213
Boston Properties		1,650		191,004
Brandywine Realty Trust		5,275		74,219
Camden Property Trust		750		51,397
Corporate Office Properties Trust		1,375		35,365
Cousins Properties		3,350		40,033
Crown Castle International		13,850		1,115,341
DCT Industrial Trust		12,510		93,950
DDR		6,025		100,798
Douglas Emmett		3,275		84,069
Duke Realty		6,500		111,670
DuPont Fabros Technology		2,780		75,171
EastGroup Properties		1,070		64,831
EPR Properties		2,705		137,089
Equity Lifestyle Properties		900		38,124


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Real Estate Investment Trusts (continued)
Equity One		1,700	$	36,771
Equity Residential		3,225		198,595
Essex Property Trust		650		116,187
Extra Space Storage		900		46,413
Federal Realty Investment Trust		325		38,499
First Industrial Realty Trust		3,775		63,835
First Potomac Realty Trust		2,000		23,500
General Growth Properties		6,925		163,084
Health Care REIT		950		59,251
Healthcare Realty Trust		1,875		44,400
Healthcare Trust of America		3,475		40,310
Highwoods Properties		1,875		72,937
Host Hotels & Resorts		10,905		232,604
Kilroy Realty		1,125		66,870
Kimco Realty		3,450		75,589
Kite Realty Group Trust		3,632		88,040
LaSalle Hotel Properties		3,645		124,805
Lexington Realty Trust		4,000		39,160
Liberty Property Trust		925		30,765
LTC Properties		325		11,989
Macerich		1,000		63,830
National Retail Properties		4,125		142,601
Pebblebrook Hotel Trust		1,350		50,409
Post Properties		1,150		59,041
Prologis		4,575		172,477
PS Business Parks		525		39,973
Public Storage		900		149,256
Ramco-Gershenson Properties Trust		6,635		107,819
Regency Centers		1,475		79,399
RLJ Lodging Trust		2,000		56,940
Sabra Health Care REIT		1,000		24,320
Simon Property Group		2,725		448,045
SL Green Realty		1,250		126,650
Sovran Self Storage		890		66,180
Spirit Realty Capital		5,000		54,850
†Strategic Hotels & Resorts		5,375		62,619
Tanger Factory Outlet Centers		2,000		65,440
Taubman Centers		450		32,850
UDR		3,000		81,750
Ventas		2,775		171,911
Vornado Realty Trust		1,825		182,427


				6,509,526

Road & Rail–0.11%
Hunt (J.B.) Transport Services		1,100		81,455
†Roadrunner Transportation Systems		2,890		65,863
Union Pacific		2,200		238,524


				385,842

Semiconductors & Semiconductor Equipment–0.61%
†Applied Micro Circuits		7,240		50,680


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Semiconductors & Semiconductor Equipment (continued)
Avago Technologies		1,500	$	130,500
Broadcom Class A		17,100		691,182
Intel		24,961		869,142
Maxim Integrated Products		4,300		130,032
†Semtech		3,420		92,853
†Synaptics		1,090		79,788


				2,044,177

Software–1.19%
†Adobe Systems		14,150		979,039
†Callidus Software		2,530		30,411
†Guidewire Software		1,580		70,057
Intuit		9,325		817,336
Microsoft		36,925		1,711,843
†Proofpoint		2,700		100,278
†Rally Software Development		3,310		39,753
†salesforce.com		1,850		106,431
†SS&C Technologies Holdings		1,740		76,369
†Tyler Technologies		650		57,460


				3,988,977

Specialty Retail–0.69%
DSW Class A		2,800		84,308
†Express		2,890		45,113
L Brands		14,050		941,069
Lowe’s		12,900		682,668
†Sally Beauty Holdings		12,525		342,809
Tractor Supply		1,850		113,793
†Urban Outfitters		2,900		106,430


				2,316,190

Technology Hardware, Storage & Peripherals–0.22%
Apple		4,880		491,660
EMC		7,950		232,617


				724,277

Textiles, Apparel & Luxury Goods–0.26%
†G-III Apparel Group		1,090		90,317
†Iconix Brand Group		2,130		78,682
†Madden (Steven)		3,392		109,324
NIKE Class B		6,800		606,560


				884,883

Trading Companies & Distributors–0.03%
Applied Industrial Technologies		1,970		89,931


				89,931

Total U.S. Markets (Cost $41,644,579)				71,817,793


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS–7.39%
Aerospace & Defense–0.07%
Meggitt		34,421	$	251,769


				251,769

Air Freight & Logistics–0.19%
Deutsche Post		19,798		634,924


				634,924

Airlines–0.19%
@Westjet Airlines Class VV		23,016		643,712


				643,712

Auto Components–0.13%
Sumitomo Rubber Industries		29,900		425,059


				425,059

Automobiles–0.28%
Bayerische Motoren Werke		1,983		212,952
Toyota Motor		12,300		724,889


				937,841

Banks–1.00%
†ING Groep		35,143		502,041
Mitsubishi UFJ Financial Group		133,400		754,431
Nordea Bank		64,497		839,272
Standard Chartered		38,916		719,504
UniCredit		68,715		543,330


				3,358,578

Beverages–0.26%
Carlsberg Class B		5,707		507,422
Coca-Cola Amatil		46,386		356,584


				864,006

Chemicals–0.10%
Syngenta ADR		5,440		344,733


				344,733

Construction & Engineering–0.17%
Vinci		9,882		574,232


				574,232

Construction Materials–0.12%
Lafarge		5,748		413,982


				413,982

Containers & Packaging–0.15%
Rexam		62,427		497,704


				497,704

Diversified Telecommunication Services–0.28%
Nippon Telegraph & Telephone		15,241		947,968


				947,968

Energy Equipment & Services–0.27%
†Saipem		21,798		463,657


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Energy Equipment & Services (continued)
Subsea 7		30,164	$	430,760


				894,417

Food & Staples Retailing–0.08%
Tesco		89,413		269,892


				269,892

Food Products–0.22%
†Aryzta		8,613		742,974


				742,974

Household Durables–0.10%
Techtronic Industries		119,000		344,057


				344,057

Industrial Conglomerates–0.18%
Koninklijke Philips		19,168		611,693


				611,693

Insurance–0.24%
AXA		32,487		800,580


				800,580

IT Services–0.51%
†CGI Group Class A		28,699		969,746
Teleperformance		11,937		738,502


				1,708,248

Life Sciences Tools & Services–0.03%
†ICON		1,970		112,743


				112,743

Media–0.11%
Publicis Groupe		5,412		371,668


				371,668

Metals & Mining–0.25%
Anglo American ADR		6,600		74,041
AuRico Gold		40,669		141,997
Rio Tinto		9,107		447,551
Yamana Gold		26,937		161,644


				825,233

Multiline Retail–0.06%
Don Quijote		3,600		206,483


				206,483

Multi-Utilities–0.08%
National Grid		19,356		278,637


				278,637

Oil, Gas & Consumable Fuels–0.13%
Total		6,972		453,086


				453,086


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Pharmaceuticals–1.39%
Novartis		10,170	$	960,379
Novo Nordisk ADR		15,075		717,871
Sanofi		7,802		882,587
Stada Arzneimittel		10,678		424,920
Teva Pharmaceutical Industries ADR		31,200		1,677,000


				4,662,757

Road & Rail–0.15%
East Japan Railway		6,667		499,729


				499,729

Specialty Retail–0.22%
Nitori Holdings		11,806		730,978


				730,978

Textiles, Apparel & Luxury Goods–0.24%
Kering		1,690		340,795
Yue Yuen Industrial Holdings		154,500		468,583


				809,378

Trading Companies & Distributors–0.19%
ITOCHU		51,142		624,906


				624,906

Total Developed Markets (Cost $18,634,851)				24,841,967

×EMERGING MARKETS–5.11%
Airlines–0.04%
Gol Linhas Aereas Inteligentes ADR		25,613		123,199


				123,199

Automobiles–0.09%
Hyundai Motor		616		111,236
Mahindra & Mahindra		7,921		174,022


				285,258

Banks–0.57%
Banco Santander Brasil ADR		21,200		138,648
Bangkok Bank		23,805		149,722
China Construction Bank		202,619		141,953
ICICI Bank ADR		4,400		216,040
Industrial & Commercial Bank of China		263,080		163,983
Itau Unibanco Holding ADR		15,165		210,490
KB Financial Group ADR		6,322		228,983
Powszechna Kasa Oszczednosci Bank Polski		7,116		85,237
@=Sberbank		93,948		179,149
Shinhan Financial Group		4,451		205,051
Standard Bank Group		16,161		187,096


				1,906,352


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Beverages–0.28%
†Anadolu Efes Biracilik Ve Malt Sanayii		16,789	$	193,952
Cia Cervecerias Unidas ADR		4,000		88,120
Fomento Economico Mexicano ADR		2,134		196,435
@Lotte Chilsung Beverage		155		319,271
Tsingtao Brewery		17,542		124,931


				922,709

Building Products–0.12%
@KCC		610		415,745


				415,745

Chemicals–0.06%
Braskem ADR		9,503		125,154
Sociedad Quimica y Minera de Chile ADR		3,200		83,648


				208,802

Construction & Engineering–0.03%
†Empresas ICA ADR		13,100		90,652


				90,652

Construction Materials–0.22%
†Cemex ADR		25,591		333,707
†Cemex Latam Holdings		9,350		83,296
Siam Cement		6,793		94,245
Siam Cement NVDR		5,900		81,856
Ultratech Cement		3,714		157,797


				750,901

Diversified Financial Services–0.04%
Remgro		6,518		131,696


				131,696

Diversified Telecommunication Services–0.08%
KT ADR		7,500		121,575
Telefonica Brasil ADR		7,895		155,374


				276,949

Electronic Equipment, Instruments & Components–0.13%
Hon Hai Precision Industry		86,166		271,925
†LG Display ADR		11,200		176,400


				448,325

Food & Staples Retailing–0.08%
Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR		3,400		148,274
Wal-Mart de Mexico Series V		48,757		122,746


				271,020

Food Products–0.26%
Brasil Foods ADR		8,601		204,618
China Mengniu Dairy		36,000		148,361
@Lotte Confectionery		105		216,878
Tingyi Cayman Islands Holding		20,606		54,137


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Food Products (continued)
@Uni-President China Holdings		234,000	$	233,854


				857,848

Hotels, Restaurants & Leisure–0.02%
@Arcos Dorados Holdings		12,000		71,760


				71,760

Household Durables–0.04%
LG Electronics		1,914		119,200


				119,200

Insurance–0.05%
Samsung Life Insurance		1,767		177,546


				177,546

Internet Software & Services–0.47%
†Alibaba Group Holding ADR		200		17,770
†Baidu ADR		5,975		1,303,924
†SINA		2,325		95,651
†Sohu.com		3,500		175,805


				1,593,150

IT Services–0.03%
†WNS Holdings ADR		4,660		104,897


				104,897

Media–0.13%
Grupo Televisa ADR		12,698		430,208


				430,208

Metals & Mining–0.12%
†Anglo American Platinum		2,197		71,270
@Gerdau		11,600		46,781
Gerdau ADR		8,700		41,760
†Impala Platinum Holdings		4,759		36,688
Steel Authority of India		27,341		30,722
Vale ADR		14,800		162,948


				390,169

Multiline Retail–0.03%
Woolworths Holdings		16,884		104,590


				104,590

Oil, Gas & Consumable Fuels–0.81%
Cairn India		25,668		129,231
China Petroleum & Chemical		122,050		106,884
CNOOC ADR		890		153,561
@Gazprom ADR		35,057		246,801
LUKOIL ADR		3,298		167,868
PetroChina ADR		908		116,687
Petroleo Brasileiro ADR		25,855		366,882
Polski Koncern Naftowy Orlen		7,265		90,511
PTT - Foreign		16,178		179,562
#Reliance Industries GDR 144A		19,381		591,121


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Oil, Gas & Consumable Fuels (continued)
@Rosneft GDR		24,108	$	140,477
Sasol ADR		3,024		164,778
Tambang Batubara Bukit Asam Persero		87,000		94,247
YPF ADR		4,800		177,552


				2,726,162

Paper & Forest Products–0.08%
†Fibria Celulose ADR		18,405		202,455
Nine Dragons Paper Holdings		106,000		76,311


				278,766

Personal Products–0.05%
†Hypermarcas		22,400		161,451


				161,451

Real Estate Management & Development–0.05%
#@=Etalon Group GDR 144A		6,900		25,185
@UEM Sunrise		225,402		125,071


				150,256

Road & Rail–0.01%
America Latina Logistica		15,422		40,014


				40,014

Semiconductors & Semiconductor Equipment–0.21%
MediaTek		13,000		192,521
Taiwan Semiconductor Manufacturing		65,594		258,753
Taiwan Semiconductor Manufacturing ADR		7,900		159,422
United Microelectronics		259,000		107,278


				717,974

Technology Hardware, Storage & Peripherals–0.23%
Samsung Electronics		699		784,507


				784,507

Transportation Infrastructure–0.02%
Santos Brasil Participacoes		7,138		48,998


				48,998

Wireless Telecommunication Services–0.76%
America Movil ADR		6,500		163,800
China Mobile		27,120		313,466
China Mobile ADR		3,600		211,500
MegaFon GDR		7,315		185,655
Mobile Telesystems ADR		6,000		89,640
MTN Group		7,402		156,313
SK Telecom ADR		25,100		761,534
Tim Participacoes ADR		16,200		424,440
†Turkcell Iletisim Hizmetleri ADR		8,351		109,732


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Wireless Telecommunication Services (continued)
Vodacom Group		12,819	$	147,667


				2,563,747


Total Emerging Markets (Cost $14,858,369)				17,152,851


Total Common Stock (Cost $75,137,799)				113,812,611

CONVERTIBLE PREFERRED STOCK–0.33%
Alcoa 5.375% exercise price $19.39, expiration date 10/1/17		1,250		62,375
ArcelorMittal 6.00% exercise price $20.36, expiration date 12/21/15		2,325		49,878
Bank of America 7.25% exercise price $50.00, expiration date 12/31/49		42		48,153
#Chesapeake Energy 144A 5.75% exercise price $26.14, expiration date 12/31/49		70		77,831
Dominion Resources 6.125% exercise price $65.21, expiration date 4/1/16		788		44,175
Exelon 6.50% exercise price $43.75, expiration date 6/1/17		1,400		71,120
Halcon Resources 5.75% exercise price $6.16, expiration date 12/31/49		55		46,750
HealthSouth 6.50% exercise price $30.01, expiration date 12/31/49		94		125,102
Huntington Bancshares 8.50% exercise price $11.95, expiration date 12/31/49		70		92,400
Intelsat 5.75% exercise price $22.05, expiration date 5/1/16		2,876		136,552
Maiden Holdings 7.25% exercise price $15.47, expiration date 9/15/16		2,150		96,019
MetLife 5.00% exercise price $44.27, expiration date 10/8/14		2,250		69,277
SandRidge Energy 8.50% exercise price $8.01, expiration date 12/31/49		908		86,373


	Number of Shares		Value (U.S. $)

CONVERTIBLE PREFERRED STOCK (continued)
Wells Fargo 7.50% exercise price $156.71, expiration date 12/31/49		84	$	101,011


Total Convertible Preferred Stock (Cost $1,148,653)				1,107,016


EXCHANGE-TRADED FUNDS–5.24%
iShares MSCI EAFE Growth Index ETF		131,340		8,944,254
iShares MSCI EAFE Index ETF		54,900		3,520,188
Vanguard FTSE Developed Markets ETF		129,530		5,148,817


Total Exchange-Traded Funds (Cost $13,001,587)				17,613,259


PREFERRED STOCK–0.25%
Alabama Power 5.625%		9,280		228,102
•Integrys Energy Group 6.00%		8,750		224,350
National Retail Properties 5.70%		5,050		120,443
Public Storage 5.20%		5,000		112,900
•Regions Financial 6.375%		5,700		144,666


Total Preferred Stock (Cost $838,468)				830,461


	Principal Amount°

AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.70%
Fannie Mae REMICs
Series 1996-46 ZA 7.50% 11/25/26		3,462		3,929
Series 2003-26 AT 5.00% 11/25/32		88,265		91,608
Series 2010-41 PN 4.50% 4/25/40		235,000		252,291
Series 2010-96 DC 4.00% 9/25/25		450,000		479,522
•*Series 2012-122 SD 5.946% 11/25/42		241,658		53,672
*Series 2013-26 ID 3.00% 4/25/33		327,466		53,116
*Series 2013-38 AI 3.00% 4/25/33		317,499		51,046
*Series 2013-44 DI 3.00% 5/25/33		977,875		162,201
Series 2014-36 ZE 3.00% 6/25/44		148,476		124,050
Freddie Mac REMICs
Series 2326 ZQ 6.50% 6/15/31		7,154		8,106
Series 2557 WE 5.00% 1/15/18		9,343		9,818
Series 2762 LG 5.00% 9/15/32		130		130


	Principal Amount°		Value (U.S. $)

AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
Freddie Mac REMICs (continued)
Series 3416 GK 4.00% 7/15/22		14,955	$	15,177
Series 4065 DE 3.00% 6/15/32		40,000		38,481
*Series 4185 LI 3.00% 3/15/33		243,414		40,931
*Series 4191 CI 3.00% 4/15/33		100,133		16,628
•Freddie Mac Structured Agency Credit Risk Debt Notes Series 2014-DN2 M2 1.805% 4/25/24		250,000		242,807
¿Freddie Mac Structured Pass Through Securities Series T-58 2A 6.50% 9/25/43		92,500		104,773
GNMA Series 2010-113 KE 4.50% 9/20/40		575,000		620,677


Total Agency Collateralized Mortgage Obligations (Cost $2,328,652)				2,368,963

AGENCY MORTGAGE-BACKED SECURITIES–10.19%
Fannie Mae 6.50% 8/1/17		14,152		14,733
Fannie Mae ARM
•2.301% 4/1/36		38,422		40,970
•2.344% 11/1/35		25,155		26,974
•2.42% 5/1/43		123,679		122,974
•2.546% 6/1/43		42,902		42,935
•3.199% 4/1/44		190,815		196,672
•3.279% 3/1/44		169,011		175,292
•3.292% 9/1/43		149,727		154,431
•5.141% 8/1/35		1,661		1,779
Fannie Mae Relocation 15 yr 4.00% 9/1/20		38,709		40,768
Fannie Mae Relocation 30 yr
5.00% 1/1/34		21,298		23,279
5.00% 10/1/35		13,812		15,083
5.00% 2/1/36		39,640		43,257
Fannie Mae S.F. 15 yr
2.50% 10/1/27		131,549		133,085
2.50% 2/1/28		360,269		364,475
3.00% 11/1/27		8,514		8,799
3.00% 5/1/28		31,301		32,336
3.50% 7/1/26		110,739		116,706
3.50% 12/1/28		36,833		38,942
4.00% 5/1/25		67,319		71,842
4.00% 6/1/25		252,324		269,249
4.00% 11/1/25		438,037		467,771
4.00% 12/1/26		117,325		125,215
4.00% 5/1/27		246,923		263,465
4.00% 8/1/27		136,628		145,866
4.50% 4/1/18		12,599		13,308
5.50% 6/1/23		77,994		86,135
Fannie Mae S.F. 15 yr TBA
2.50% 10/1/29		583,000		586,279
2.50% 11/1/29		480,000		481,556
3.00% 10/1/29		1,517,000		1,562,510


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 20 yr
3.00% 2/1/33		15,077	$	15,366
3.00% 8/1/33		60,306		61,237
3.50% 4/1/33		18,062		18,838
3.50% 9/1/33		83,865		87,465
4.00% 1/1/31		22,042		23,565
4.00% 2/1/31		89,361		95,524
5.00% 11/1/23		8,019		8,844
6.00% 9/1/29		72,919		82,428
Fannie Mae S.F. 30 yr
3.00% 7/1/42		110,561		109,286
3.00% 10/1/42		1,755,394		1,734,876
3.00% 12/1/42		293,715		290,246
3.00% 1/1/43		671,939		663,832
3.00% 2/1/43		68,771		67,942
3.00% 4/1/43		424,666		419,414
3.00% 5/1/43		366,009		361,441
4.00% 5/1/43		92,604		97,979
4.00% 8/1/43		51,072		54,029
4.00% 7/1/44		194,322		205,608
4.50% 7/1/36		36,706		39,625
4.50% 11/1/40		109,258		118,181
4.50% 3/1/41		228,675		247,329
4.50% 4/1/41		262,592		284,069
4.50% 10/1/41		132,845		143,701
4.50% 11/1/41		110,901		119,972
4.50% 12/1/43		20,068		21,724
4.50% 5/1/44		83,530		90,434
5.00% 2/1/35		134,423		148,686
5.00% 7/1/35		51,192		56,591
5.00% 10/1/35		116,322		128,613
5.00% 11/1/35		37,004		40,933
5.00% 4/1/37		30,823		34,058
5.00% 8/1/37		89,088		98,494
5.00% 2/1/38		33,055		36,555
5.50% 12/1/32		6,603		7,411
5.50% 2/1/33		94,120		105,391
5.50% 4/1/34		33,740		37,866
5.50% 11/1/34		35,881		40,248
5.50% 12/1/34		161,602		181,065
5.50% 1/1/35		15,021		16,838
5.50% 3/1/35		21,803		24,416
5.50% 5/1/35		57,518		64,444
5.50% 6/1/35		29,359		32,783
5.50% 1/1/36		21,360		23,935
5.50% 7/1/36		9,858		11,047
5.50% 1/1/37		2,236		2,509
5.50% 4/1/37		206,532		233,563
5.50% 8/1/37		92,353		103,447
5.50% 1/1/38		2,825		3,146
5.50% 2/1/38		61,647		69,035
5.50% 3/1/38		70,778		79,392
5.50% 6/1/38		7,024		7,817


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
5.50% 9/1/38		250,991	$	280,943
5.50% 10/1/39		323,323		359,759
5.50% 7/1/40		95,248		105,983
5.50% 9/1/41		36,119		40,238
6.00% 5/1/36		128,466		145,650
6.00% 6/1/36		11,577		13,134
6.00% 12/1/36		13,630		15,507
6.00% 2/1/37		39,170		44,413
6.00% 5/1/37		105,191		118,764
6.00% 6/1/37		6,811		7,789
6.00% 7/1/37		7,256		8,228
6.00% 8/1/37		95,326		108,026
6.00% 9/1/37		14,285		16,197
6.00% 11/1/37		19,390		22,134
6.00% 5/1/38		177,314		200,568
6.00% 7/1/38		4,870		5,499
6.00% 9/1/38		34,410		38,896
6.00% 10/1/38		155,826		176,002
6.00% 11/1/38		31,424		35,723
6.00% 1/1/39		66,014		74,571
6.00% 2/1/39		77,470		88,006
6.00% 9/1/39		558,000		630,806
6.00% 3/1/40		56,198		63,508
6.00% 7/1/40		222,856		251,980
6.00% 9/1/40		49,037		55,524
6.00% 11/1/40		19,619		22,454
6.00% 5/1/41		72,513		82,097
6.50% 2/1/36		60,097		69,776
6.50% 6/1/36		65,559		75,566
6.50% 10/1/36		50,410		57,062
6.50% 8/1/37		4,367		4,943
7.00% 12/1/37		7,498		8,011
7.50% 6/1/31		13,815		16,646
Fannie Mae S.F. 30 yr TBA
3.00% 11/1/44		3,564,000		3,503,440
3.50% 11/1/44		1,293,000		1,317,749
4.00% 10/1/44		1,444,000		1,521,705
4.00% 11/1/44		4,727,000		4,966,600
4.50% 11/1/44		4,190,000		4,508,996
5.00% 11/1/44		392,000		431,600
Freddie Mac ARM
•2.249% 7/1/36		38,708		41,533
•2.338% 4/1/34		9,782		10,411
•2.342% 12/1/33		10,368		11,067
•2.482% 6/1/37		3,722		3,996
•2.526% 1/1/44		366,364		373,516
Freddie Mac S.F. 15 yr
4.00% 5/1/25		19,766		21,099
4.50% 5/1/20		4,121		4,411
4.50% 8/1/24		114,041		122,325
4.50% 7/1/25		21,944		23,499
4.50% 6/1/26		51,361		54,851


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac S.F. 15 yr (continued) 5.00% 6/1/18		30,764	$	32,479
Freddie Mac S.F. 20 yr
3.00% 6/1/34		59,490		60,293
3.50% 1/1/34		151,870		157,937
Freddie Mac S.F. 30 yr
3.00% 10/1/42		130,449		129,419
3.00% 11/1/42		117,268		116,706
4.50% 6/1/39		22,114		23,861
4.50% 10/1/39		58,303		62,910
4.50% 3/1/42		104,216		112,507
5.50% 3/1/34		13,161		14,747
5.50% 12/1/34		13,392		15,059
5.50% 6/1/36		9,179		10,243
5.50% 11/1/36		3,842		4,284
5.50% 12/1/36		4,394		4,892
5.50% 6/1/38		2,226		2,480
5.50% 3/1/40		50,242		55,959
5.50% 8/1/40		37,673		41,919
5.50% 1/1/41		10,411		11,588
5.50% 6/1/41		51,319		57,113
6.00% 2/1/36		29,546		33,642
6.00% 1/1/38		20,229		22,784
6.00% 6/1/38		53,409		60,218
6.00% 8/1/38		49,057		56,048
6.00% 5/1/40		24,076		27,150
6.50% 4/1/39		85,147		96,276
7.00% 11/1/33		1,984		2,304
GNMA I S.F. 30 yr
5.00% 6/15/40		28,409		31,268
7.00% 12/15/34		104,313		122,561
7.50% 1/15/32		7,208		8,854


Total Agency Mortgage-Backed Securities (Cost $33,958,739)				34,254,626

AGENCY OBLIGATIONS–0.12%
Fannie Mae 2.625% 9/6/24		185,000		182,375
Tennessee Valley Authority 2.875% 9/15/24		225,000		223,790


Total Agency Obligations (Cost $405,926)				406,165

COMMERCIAL MORTGAGE-BACKED SECURITIES–2.84%
•Banc of America Commercial Mortgage Trust Series 2007-4 AM 6.015% 2/10/51		130,000		143,155
CD Commercial Mortgage Trust
•Series 2005-CD1 AM 5.40% 7/15/44		100,000		103,703


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
CD Commercial Mortgage Trust (continued)
•Series 2005-CD1 C 5.40% 7/15/44		125,000	$	128,488
Citigroup Commercial Mortgage Trust Series 2014-GC23 AS 3.863% 7/10/47		80,000		81,412
¿Commercial Mortgage Pass Through Certificates Series 2014-LC17 A5 3.917% 10/10/47		210,000		218,302
Commercial Mortgage Trust Series 2014-CR19 A5 3.796% 8/10/47		110,000		112,389
DB-UBS Mortgage Trust
#Series 2011-LC1A A3 144A 5.002% 11/10/46		590,000		658,754
#•Series 2011-LC1A C 144A 5.73% 11/10/46		200,000		222,947
FREMF Mortgage Trust
#•Series 2011-K702 B 144A 4.936% 4/25/44		50,000		53,185
#•Series 2012-K19 B 144A 4.176% 5/25/45		40,000		41,035
#•Series 2012-K708 B 144A 3.891% 2/25/45		430,000		442,258
#•Series 2012-K711 144A 3.684% 8/25/45		500,000		506,623
#•Series 2013-K33 B 144A 3.619% 8/25/46		120,000		117,087
#•Series 2013-K712 144A 3.484% 5/25/45		540,000		540,527
#•Series 2013-K713 144A 3.274% 4/25/46		300,000		296,436
#•Series 2014-K716 B 144A 3.954% 8/25/47		100,000		101,506
Goldman Sachs Mortgage Securities II
Series 2005-GG4 A4A 4.751% 7/10/39		140,282		141,362
•Series 2006-GG6 A4 5.553% 4/10/38		215,000		224,030
#Series 2010-C1 A2 144A 4.592% 8/10/43		345,000		376,880
#Grace Mortgage Trust Series 2014-GRCE A 144A 3.369% 6/10/28		1,440,000		1,476,315
Hilton USA Trust
#Series 2013-HLT AFX 144A 2.662% 11/5/30		415,000		416,438
#Series 2013-HLT BFX 144A 3.367% 11/5/30		385,000		391,182
JPMBB Commercial Mortgage Securities Trust
Series 2014-C18 A1 1.254% 2/15/47		123,170		122,499


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
JPMBB Commercial Mortgage Securities Trust (continued)
Series 2014-C21 AS 3.997% 8/15/47		80,000	$	81,555
Series 2014-C22 A4 3.801% 9/15/47		250,000		256,491
•Series 2014-C22 B 4.714% 9/15/47		160,000		166,142
JPMorgan Chase Commercial Mortgage Securities
•Series 2005-CB11 E 5.647% 8/12/37		60,000		64,145
•Series 2005-LDP5 D 5.559% 12/15/44		105,000		108,324
Series 2006-LDP8 AM 5.44% 5/15/45		384,000		411,397
#•Series 2011-C5 C 144A 5.50% 8/15/46		100,000		109,891
Lehman Brothers-UBS Commercial Mortgage Trust
Series 2004-C1 A4 4.568% 1/15/31		14,873		15,270
•Series 2005-C3 B 4.895% 7/15/40		70,000		71,088
•Series 2006-C6 AJ 5.452% 9/15/39		170,000		179,676
Series 2006-C6 AM 5.413% 9/15/39		70,000		75,288
Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C18 A4 3.923% 10/15/47		145,000		150,075
Morgan Stanley Capital I Trust
•Series 2005-HQ7 AJ 5.38% 11/14/42		155,000		159,958
•Series 2005-HQ7 C 5.38% 11/14/42		350,000		345,989
•Series 2006-T21 AM 5.204% 10/12/52		140,000		146,317
#VNO Mortgage Trust Series 2012-6AVE A 144A 2.996% 11/15/30		145,000		142,568
WF-RBS Commercial Mortgage Trust Series 2014-C23 A5 3.917% 10/15/57		125,000		128,744


Total Commercial Mortgage-Backed Securities (Cost $9,517,043)				9,529,431

CONVERTIBLE BONDS–0.96%
Alaska Communications Systems Group 6.25% exercise price $10.28, expiration date 4/27/18		134,000		108,540


	Principal Amount°		Value (U.S. $)

CONVERTIBLE BONDS (continued)
Ares Capital 5.75% exercise price $19.13, expiration date 2/1/16		39,000	$	40,804
BGC Partners 4.50% exercise price $9.84, expiration date 7/13/16		86,000		90,945
BioMarin Pharmaceutical 1.50% exercise price $94.15, expiration date 10/13/20		69,000		75,900
Blackstone Mortgage Trust 5.25% exercise price $28.66, expiration date 12/1/18		125,000		131,250
#Blucora 144A 4.25% exercise price $21.66, expiration date 3/29/19		64,000		64,480
#Campus Crest Communities Operating Partnership 144A 4.75% exercise price $12.56, expiration date 10/11/18		69,000		65,723
#Cardtronics 144A 1.00% exercise price $52.35, expiration date 11/27/20		115,000		110,544
Chesapeake Energy 2.25% exercise price $80.36, expiration date 12/14/38		49,000		47,009
#Ciena 144A 3.75% exercise price $20.17, expiration date 10/15/18		65,000		76,050
#Energy XXI Bermuda 144A 3.00% exercise price $40.40, expiration date 12/13/18		118,000		96,907
Equinix 4.75% exercise price $84.32, expiration date 6/13/16		13,000		33,507
fGeneral Cable 4.50% exercise price $35.33, expiration date 11/15/29		133,000		92,934
Gilead Sciences 1.625% exercise price $22.71, expiration date 5/1/16		35,000		163,494
Illumina 0.25% exercise price $83.55, expiration date 3/11/16		27,000		53,696
Intel 3.25% exercise price $21.71, expiration date 8/1/39		37,000		62,114
j2 Global 3.25% exercise price $69.37, expiration date 6/14/29		106,000		106,199
Jefferies Group 3.875% exercise price $45.19, expiration date 10/31/29		65,000		68,981


	Principal Amount°		Value (U.S. $)

CONVERTIBLE BONDS (continued)
#Lexington Realty Trust 144A 6.00% exercise price $6.68, expiration date 1/11/30		34,000	$	49,130
Liberty Interactive 0.75% exercise price $1,000.00, expiration date 3/30/43		114,000		151,549
#Liberty Interactive 144A 1.00% exercise price $74.31, expiration date 9/28/43		105,000		108,019
fMeritor 4.00% exercise price $26.73, expiration date 2/12/27		129,000		133,031
MGM Resorts International 4.25% exercise price $18.58, expiration date 4/10/15		60,000		75,713
Mylan 3.75% exercise price $13.32, expiration date 9/15/15		20,000		68,425
Novellus Systems 2.625% exercise price $35.02, expiration date 5/14/41		65,000		141,984
NuVasive 2.75% exercise price $42.13, expiration date 6/30/17		126,000		140,490
Peabody Energy 4.75% exercise price $57.62, expiration date 12/15/41		88,000		60,720
RTI International Metals 1.625% exercise price $40.72, expiration date 10/10/19		73,000		70,171
SanDisk 1.50% exercise price $51.53, expiration date 8/11/17		53,000		102,191
SBA Communications 4.00% exercise price $30.38, expiration date 9/29/14		33,000		119,853
Spirit Realty Capital 3.75% exercise price $13.10, expiration date 5/13/21		73,000		70,993
Titan Machinery 3.75% exercise price $43.17, expiration date 4/30/19		79,000		60,781
#TPG Specialty Lending 144A 4.50% exercise price $25.83, expiration date 12/15/19		84,000		81,637
#Vantage Drilling 144A 5.50% exercise price $2.39, expiration date 7/15/43		119,000		116,546
Vector Group 1.75% exercise price $25.87, expiration date 4/15/20		73,000		82,034


		Principal Amount°		Value (U.S. $)

CONVERTIBLE BONDS (continued)
•Vector Group 2.50% exercise price $16.78, expiration date 1/14/19			35,000	$	50,852
VeriSign 4.086% exercise price $34.37, expiration date 8/15/37			39,000		65,739


Total Convertible Bonds (Cost $2,854,217)					3,238,935

CORPORATE BONDS–32.70%
Aerospace & Defense–0.07%
TransDigm
#144A 6.00% 7/15/22			145,000		143,369
#144A 6.50% 7/15/24			105,000		104,737


					248,106

Air Freight & Logistics–0.06%
#Aviation Capital Group 144A 6.75% 4/6/21			165,000		188,100


					188,100

Airlines–0.11%
¿American Airlines 2014-1 Class A Pass Through Trust 3.70% 10/1/26			100,000		100,375
¿United Airlines 2014-1 Class A Pass Through Trust 4.00% 4/11/26			80,000		80,400
¿United Airlines 2014-2 Class A Pass Through Trust 3.75% 9/3/26			185,000		187,313


					368,088

Auto Components–0.46%
American Axle & Manufacturing 6.25% 3/15/21			210,000		219,450
Delphi
4.15% 3/15/24			250,000		255,520
6.125% 5/15/21			240,000		264,000
Magna International 3.625% 6/15/24			300,000		298,706
TRW Automotive
#144A 4.45% 12/1/23			295,000		298,687
#144A 4.50% 3/1/21			190,000		192,850


					1,529,213

Automobiles–0.20%
Daimler 2.75% 12/10/18	NOK		720,000		116,355
Ford Motor 7.45% 7/16/31			225,000		297,857
General Motors 3.50% 10/2/18			190,000		194,037
Toyota Finance Australia 3.04% 12/20/16	NZD		80,000		60,258


					668,507


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Beverages–0.12%
Pernod-Ricard
#144A 4.25% 7/15/22		150,000	$	156,531
#144A 5.75% 4/7/21		225,000		256,597


				413,128

Biotechnology–0.27%
Amgen 3.625% 5/22/24		175,000		173,759
Celgene
3.95% 10/15/20		390,000		413,703
4.625% 5/15/44		115,000		113,276
Immucor 11.125% 8/15/19		200,000		217,000


				917,738

Building Products–0.09%
Nortek 8.50% 4/15/21		265,000		286,200


				286,200

Capital Markets–0.46%
Jefferies Group
5.125% 1/20/23		135,000		143,734
6.45% 6/8/27		110,000		123,796
6.50% 1/20/43		60,000		66,524
Lazard Group 6.85% 6/15/17		567,000		639,246
#Nuveen Investments 144A 9.50% 10/15/20		260,000		302,900
State Street 3.10% 5/15/23		285,000		276,932


				1,553,132

Chemicals–1.68%
Braskem Finance 6.45% 2/3/24		200,000		208,500
Celanese US Holdings 4.625% 11/15/22		185,000		182,225
CF Industries
5.15% 3/15/34		115,000		121,560
5.375% 3/15/44		230,000		241,600
6.875% 5/1/18		345,000		399,887
7.125% 5/1/20		210,000		253,639
Dow Chemical
4.25% 10/1/34		310,000		299,475
8.55% 5/15/19		1,129,000		1,420,368
Eastman Chemical 4.65% 10/15/44		75,000		71,736
Monsanto 4.40% 7/15/44		865,000		860,781
Mosaic 5.625% 11/15/43		580,000		649,765
OCP
#144A 5.625% 4/25/24		200,000		208,540
#144A 6.875% 4/25/44		200,000		216,540
PolyOne 5.25% 3/15/23		145,000		141,375
Rockwood Specialties Group 4.625% 10/15/20		85,000		88,081
#TPC Group 144A 8.75% 12/15/20		120,000		128,100


		Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Chemicals (continued)
#US Coatings Acquisition 144A 7.375% 5/1/21			150,000	$	161,625


					5,653,797

Commercial Banks–3.54%
Abbey National Treasury Services 2.35% 9/10/19			310,000		306,388
Australia & New Zealand Banking Group
2.625% 12/10/18	CAD		118,000		107,089
•3.517% 11/6/18	AUD		36,000		31,860
#Banco de Costa Rica 144A
5.25% 8/12/18			400,000		409,000
#•Banco Santander Mexico Institucion de Banca Multiple Grupo Financiero Santand 144A 5.95% 1/30/24			200,000		211,500
BanColombia 5.95% 6/3/21			194,000		213,885
Barclays Bank
4.375% 9/11/24			200,000		194,146
7.625% 11/21/22			400,000		430,600
BB&T 5.25% 11/1/19			765,000		859,456
#•BBVA Banco Continental 144A 5.25% 9/22/29			85,000		85,629
#BBVA Bancomer 144A 6.50% 3/10/21			300,000		328,500
Branch Banking & Trust 3.80% 10/30/26			510,000		508,864
City National 5.25% 9/15/20			195,000		217,158
Cooperatieve Centrale Raiffeisen-Boerenleenbank
2.50% 9/4/20	NOK		270,000		42,157
4.875% 1/20/20	AUD		40,000		36,229
#Credit Suisse 144A 6.50% 8/8/23			250,000		272,513
Export-Import Bank of China
#144A 2.50% 7/31/19			200,000		198,217
#144A 3.625% 7/31/24			205,000		202,521
#HBOS 144A 6.75% 5/21/18			140,000		158,620
#ING Bank 144A 5.80% 9/25/23			235,000		259,314
KeyBank 6.95% 2/1/28			615,000		788,210
Northern Trust 3.95% 10/30/25			135,000		140,060
#•Oversea-Chinese Banking 144A 4.00% 10/15/24			305,000		308,457
PNC Bank 6.875% 4/1/18			740,000		857,834
#•PNC Preferred Funding Trust II 144A 1.457% 3/31/49			500,000		485,625
Rabobank 4.625% 12/1/23			330,000		342,522
#Santander UK 144A 5.00% 11/7/23			405,000		425,685
#Siam Commercial Bank 144A 3.50% 4/7/19			200,000		204,400
•SunTrust Bank 0.525% 8/24/15			220,000		219,846
#Turkiye Garanti Bankasi 144A 4.75% 10/17/19			400,000		400,400


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
U.S. Bank 4.95% 10/30/14		250,000	$	250,875
•USB Capital IX 3.50% 10/29/49		780,000		666,900
Wells Fargo
4.10% 6/3/26		785,000		783,320
•5.90% 12/29/49		150,000		153,187
Woori Bank
#144A 2.875% 10/2/18		200,000		204,015
#144A 4.75% 4/30/24		400,000		405,350
Zions Bancorp 4.50% 6/13/23		170,000		178,311


				11,888,643

Commercial Services & Supplies–0.58%
#Algeco Scotsman Global Finance 144A 8.50% 10/15/18		365,000		375,950
Avis Budget Car Rental 5.50% 4/1/23		216,000		215,460
#Brambles USA 144A 3.95% 4/1/15		95,000		96,491
HD Supply
7.50% 7/15/20		87,000		90,697
11.50% 7/15/20		95,000		109,844
#Prestige Brands 144A 5.375% 12/15/21		275,000		259,875
Reynolds Group Issuer 8.25% 2/15/21		100,000		106,250
#Service Corp International 144A 5.375% 5/15/24		235,000		236,763
Spectrum Brands 6.375% 11/15/20		190,000		199,025
United Rentals North America 5.75% 11/15/24		265,000		268,975


				1,959,330

Computers & Peripherals–0.16%
NetApp 3.25% 12/15/22		195,000		190,553
#Seagate HDD Cayman 144A 4.75% 1/1/25		350,000		350,000


				540,553

Construction & Engineering–0.17%
#OAS Finance 144A 8.00% 7/2/21		200,000		192,500
#Odebrecht Offshore Drilling Finance 144A 6.625% 10/1/22		195,220		202,053
URS
3.85% 4/1/17		40,000		41,309
5.00% 4/1/22		140,000		142,107


				577,969

Construction Materials–0.25%
Cemex
#144A 5.875% 3/25/19		200,000		201,500
#144A 7.25% 1/15/21		200,000		212,000
#144A 9.50% 6/15/18		200,000		223,690


		Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Construction Materials (continued)
#Tenedora Nemak 144A 5.50% 2/28/23			200,000	$	206,000


					843,190

Consumer Finance–0.26%
Ford Motor Credit
3.664% 9/8/24			200,000		196,257
5.875% 8/2/21			200,000		230,294
General Motors Financial
3.00% 9/25/17			110,000		111,237
4.375% 9/25/21			160,000		163,800
#Hyundai Capital America 144A 2.125% 10/2/17			155,000		156,991


					858,579

Containers & Packaging–0.43%
Ball 4.00% 11/15/23			370,000		345,950
Berry Plastics 5.50% 5/15/22			115,000		110,831
#BWAY Holding 144A 9.125% 8/15/21			200,000		202,000
#Consolidated Container 144A 10.125% 7/15/20			95,000		89,775
International Paper 4.80% 6/15/44			155,000		150,705
#Plastipak Holdings 144A 6.50% 10/1/21			175,000		178,500
Rock Tenn
3.50% 3/1/20			245,000		249,394
4.00% 3/1/23			100,000		101,690


					1,428,845

Diversified Consumer Services–0.16%
#ENA Norte Trust 144A 4.95% 4/25/23			229,315		237,325
#Red de Carreteras de Occidente 144A 9.00% 6/10/28	MXN		4,000,000		286,728


					524,053

Diversified Financial Services–2.15%
Bank of America
4.20% 8/26/24			755,000		749,372
•6.25% 9/29/49			460,000		459,281
#•Corp Financiera De Desarrollo 144A 5.25% 7/15/29			200,000		203,250
#•Credit Suisse Group 144A 7.50% 12/11/49			200,000		210,500
#ERAC USA Finance 144A 5.25% 10/1/20			675,000		761,868
General Electric Capital
2.10% 12/11/19			235,000		233,886
4.25% 1/17/18	NZD		175,000		135,285
6.00% 8/7/19			384,000		448,329
•7.125% 12/15/49			400,000		463,701


		Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Financial Services (continued)
Goldman Sachs Group
•3.925% 8/21/19	AUD		10,000	$	8,876
•4.325% 8/8/18	AUD		10,000		9,010
HSBC Holdings
•5.625% 12/29/49			200,000		198,850
•6.375% 12/29/49			400,000		400,000
JPMorgan Chase
•0.865% 1/28/19			74,000		74,614
3.875% 9/10/24			265,000		260,109
•6.75% 8/29/49			445,000		469,697
•Lloyds Banking Group 7.50% 4/30/49			395,000		407,837
Morgan Stanley
•1.083% 1/24/19			77,000		77,961
4.35% 9/8/26			780,000		768,362
5.00% 9/30/21	AUD		38,000		33,454
•National Rural Utilities Cooperative Finance 4.75% 4/30/43			275,000		272,594
Royal Bank of Scotland Group 5.125% 5/28/24			185,000		182,116
#SUAM Finance 144A 4.875% 4/17/24			305,000		311,100
#•USB Realty 144A 1.381% 12/22/49			100,000		92,875


					7,232,927

Diversified Telecommunication Services–1.97%
#Altice 144A 7.75% 5/15/22			200,000		207,000
AT&T 4.80% 6/15/44			660,000		652,822
Bell Canada 3.35% 3/22/23	CAD		53,000		46,771
#Bharti Airtel International Netherlands 144A 5.35% 5/20/24			400,000		428,236
CC Holdings GS V 3.849% 4/15/23			175,000		172,447
CenturyLink
5.80% 3/15/22			420,000		432,600
6.75% 12/1/23			195,000		209,869
#Digicel Group 144A 8.25% 9/30/20			400,000		414,040
Hughes Satellite Systems 7.625% 6/15/21			95,000		104,025
Intelsat Luxembourg 8.125% 6/1/23			475,000		497,563
#Level 3 Escrow II 144A 5.375% 8/15/22			40,000		39,500
Motorola Solutions 4.00% 9/1/24			270,000		264,085
#SBA Tower Trust 144A 2.24% 4/15/18			180,000		177,724
#SES 144A 3.60% 4/4/23			440,000		444,637



	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Telecommunication Services (continued)
Telefonica Emisiones SAU 4.57% 4/27/23		450,000	$	470,673
#Telemar Norte Leste 144A 5.50% 10/23/20		265,000		260,045
Verizon Communications
#144A 4.862% 8/21/46		721,000		724,795
5.15% 9/15/23		255,000		282,584
6.55% 9/15/43		119,000		148,894
#Virgin Media Finance 144A 6.375% 4/15/23		200,000		207,500
#Wind Acquisition Finance 144A 7.375% 4/23/21		220,000		221,650
Windstream
7.50% 4/1/23		60,000		61,800
7.75% 10/1/21		125,000		133,750


				6,603,010

Electric Utilities–2.12%
AES Gener
#144A 5.25% 8/15/21		200,000		211,752
#•144A 8.375% 12/18/73		200,000		226,000
#American Transmission Systems 144A 5.25% 1/15/22		390,000		432,656
Berkshire Hathaway Energy 3.75% 11/15/23		310,000		318,612
Cleveland Electric Illuminating 5.50% 8/15/24		285,000		328,783
ComEd Financing III 6.35% 3/15/33		220,000		227,150
Electricite de France
#144A 4.60% 1/27/20		95,000		104,991
#•144A 5.25% 12/29/49		470,000		478,813
#•Enel 144A 8.75% 9/24/73		600,000		698,280
Entergy Arkansas 3.70% 6/1/24		85,000		87,557
Great Plains Energy
4.85% 6/1/21		125,000		137,889
5.292% 6/15/22		160,000		182,292
Indiana Michigan Power 3.20% 3/15/23		125,000		124,698
IPALCO Enterprises 5.00% 5/1/18		175,000		185,281
ITC Holdings 3.65% 6/15/24		275,000		274,702
LG&E & KU Energy
3.75% 11/15/20		265,000		275,680
4.375% 10/1/21		395,000		425,605
#Metropolitan Edison 144A 4.00% 4/15/25		125,000		125,311
NextEra Energy Capital Holdings
2.40% 9/15/19		245,000		243,719
3.625% 6/15/23		125,000		126,791
NV Energy 6.25% 11/15/20		280,000		329,716


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Electric Utilities (continued)
Pennsylvania Electric 5.20% 4/1/20		220,000	$	243,399
Public Service of New Hampshire 3.50% 11/1/23		160,000		165,379
Public Service of Oklahoma 5.15% 12/1/19		415,000		463,550
#State Grid Overseas Investment 2014 144A 4.125% 5/7/24		495,000		508,510
#Transelec 144A 4.25% 1/14/25		200,000		198,985


				7,126,101

Electronic Equipment, Instruments & Components–0.10%
Jabil Circuit 7.75% 7/15/16		85,000		93,925
Thermo Fisher Scientific 2.40% 2/1/19		245,000		245,630


				339,555

Energy Equipment & Services–0.32%
Bristow Group 6.25% 10/15/22		165,000		171,806
#Drill Rigs Holdings 144A 6.50% 10/1/17		200,000		200,000
Ensco 4.50% 10/1/24		270,000		271,450
Exterran Partners 6.00% 4/1/21		75,000		73,313
Hercules Offshore
#144A 6.75% 4/1/22		70,000		54,863
#144A 8.75% 7/15/21		60,000		52,500
Key Energy Services 6.75% 3/1/21		275,000		266,063


				1,089,995

Food Products–0.36%
#Brasil Foods 144A 3.95% 5/22/23		200,000		188,690
#JBS Investments 144A 7.75% 10/28/20		430,000		459,025
Smithfield Foods 6.625% 8/15/22		120,000		127,200
Sysco
3.50% 10/2/24		175,000		175,841
4.35% 10/2/34		255,000		259,557


				1,210,313

Gas Utilities–0.06%
AmeriGas Finance 7.00% 5/20/22		205,000		215,763


				215,763

Health Care Equipment & Supplies–0.55%
Boston Scientific
2.65% 10/1/18		140,000		141,503
6.00% 1/15/20		285,000		325,308
CareFusion 6.375% 8/1/19		330,000		381,056


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Health Care Equipment & Supplies (continued)
Kinetic Concepts 10.50% 11/1/18		165,000	$	179,850
Zimmer Holdings
3.375% 11/30/21		330,000		336,168
4.625% 11/30/19		450,000		491,529


				1,855,414

Health Care Providers & Services–0.61%
Air Medical Group Holdings 9.25% 11/1/18		24,000		25,140
#Community Health Systems 144A 6.875% 2/1/22		120,000		125,400
DaVita Healthcare Partners 5.125% 7/15/24		205,000		201,797
#Fresenius Medical Care US Finance II 144A 5.875% 1/31/22		175,000		186,375
HCA 5.00% 3/15/24		470,000		463,537
Highmark
#144A 4.75% 5/15/21		150,000		152,481
#144A 6.125% 5/15/41		65,000		65,815
McKesson 3.796% 3/15/24		410,000		414,240
#Milacron 144A 7.75% 2/15/21		145,000		153,337
Tenet Healthcare 6.00% 10/1/20		238,000		252,280


				2,040,402

Hotels, Restaurants & Leisure–0.47%
#Caesars Growth Properties Holdings 144A 9.375% 5/1/22		160,000		140,600
International Game Technology 5.35% 10/15/23		310,000		319,363
#Landry’s 144A 9.375% 5/1/20		90,000		95,625
MGM Resorts International 11.375% 3/1/18		210,000		252,000
#PF Chang’s China Bistro 144A 10.25% 6/30/20		80,000		79,800
Pinnacle Entertainment 7.50% 4/15/21		155,000		161,975
Starwood Hotels & Resorts Worldwide
3.75% 3/15/25		150,000		148,110
4.50% 10/1/34		95,000		92,680
Wyndham Worldwide 5.625% 3/1/21		210,000		233,475
Wynn Las Vegas 5.375% 3/15/22		65,000		66,463


				1,590,091

Independent Power Producers & Energy Traders–0.32%
AES 5.50% 3/15/24		205,000		200,387
Calpine 5.375% 1/15/23		125,000		121,094
Exelon Generation 4.25% 6/15/22		405,000		418,066
#NRG Energy 144A 6.25% 5/1/24		100,000		100,750


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Independent Power Producers & Energy Traders (continued)
#Perusahaan Listrik Negara 144A 5.50% 11/22/21		210,000	$	219,975


				1,060,272

Industrial Conglomerates–0.06%
#Gates Global 144A 6.00% 7/15/22		205,000		193,725


				193,725

Insurance–1.06%
•Allstate 5.75% 8/15/53		235,000		250,716
American International Group 8.25% 8/15/18		295,000		360,636
•Chubb 6.375% 3/29/67		380,000		418,475
#Five Corners Funding Trust 144A 4.419% 11/15/23		325,000		340,807
#Hockey Merger 144A 7.875% 10/1/21		205,000		210,894
•ING US 5.65% 5/15/53		165,000		166,650
#Liberty Mutual Group 144A 4.95% 5/1/22		95,000		102,439
MetLife 3.60% 4/10/24		225,000		227,849
#MetLife Capital Trust X 144A 9.25% 4/8/38		400,000		579,000
#Onex USI Acquisition 144A 7.75% 1/15/21		40,000		40,000
Prudential Financial
3.50% 5/15/24		140,000		138,835
•5.625% 6/15/43		165,000		172,788
Teachers Insurance & Annuity Association of America
#•144A 4.375% 9/15/54		100,000		100,978
#144A 4.90% 9/15/44		195,000		199,514
•XL Group 6.50% 12/31/49		255,000		247,350


				3,556,931

Internet & Catalog Retail–0.08%
Expedia 4.50% 8/15/24		150,000		148,958
#Netflix 144A 5.75% 3/1/24		100,000		103,500


				252,458

Internet Software & Services–0.36%
Baidu
2.75% 6/9/19		200,000		199,027
3.25% 8/6/18		350,000		361,006
Equinix
4.875% 4/1/20		108,000		107,460
5.375% 4/1/23		247,000		245,765
#Tencent Holdings 144A 3.375% 5/2/19		200,000		202,375
Zayo Group 10.125% 7/1/20		90,000		101,813

				1,217,446


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
IT Services–0.11%
First Data 11.75% 8/15/21		98,000	$	113,925
NCR 6.375% 12/15/23		245,000		257,863


				371,788

Machinery–0.39%
Crane
2.75% 12/15/18		60,000		61,131
4.45% 12/15/23		245,000		257,311
#Honghua Group 144A 7.45% 9/25/19		200,000		196,500
Ingersoll-Rand Global Holding 4.25% 6/15/23		410,000		430,744
LSB Industries 7.75% 8/1/19		50,000		53,250
Meritor 6.75% 6/15/21		95,000		99,275
Trinity Industries 4.55% 10/1/24		205,000		205,768


				1,303,979

Media–2.34%
#British Sky Broadcasting Group 144A 3.75% 9/16/24		470,000		469,885
CCO Holdings 5.25% 9/30/22		110,000		108,075
#Columbus International 144A 7.375% 3/30/21		200,000		208,750
Comcast
3.375% 2/15/25		825,000		815,522
4.75% 3/1/44		65,000		68,851
#CSC Holdings 144A 5.25% 6/1/24		285,000		274,313
DIRECTV Holdings
4.45% 4/1/24		590,000		615,648
5.15% 3/15/42		50,000		50,743
DISH DBS 5.00% 3/15/23		355,000		341,466
Gray Television 7.50% 10/1/20		200,000		205,500
Historic TW 6.875% 6/15/18		620,000		724,766
‡iHeartMedia PIK 14.00% 2/1/21		25,250		23,167
Interpublic Group 2.25% 11/15/17		130,000		130,608
Lamar Media 5.00% 5/1/23		210,000		203,175
#MDC Partners 144A 6.75% 4/1/20		195,000		201,825
#Nielsen Luxembourg 144A 5.50% 10/1/21		130,000		131,300
#Numericable Group 144A 6.00% 5/15/22		200,000		201,750
#SES Global Americas Holdings 144A 5.30% 3/25/44		420,000		445,428
Sinclair Television Group
5.375% 4/1/21		220,000		217,800
6.125% 10/1/22		90,000		92,025
Time Warner 3.55% 6/1/24		195,000		192,591
Time Warner Cable 4.00% 9/1/21		125,000		131,726


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Media (continued)
Time Warner Cable (continued) 8.25% 4/1/19		482,000	$	600,900
#Univision Communications 144A 5.125% 5/15/23		370,000		376,475
Viacom 5.25% 4/1/44		605,000		627,629
#VTR Finance 144A 6.875% 1/15/24		200,000		207,500
WPP Finance 2010 5.625% 11/15/43		175,000		190,841


				7,858,259

Metals & Mining–0.76%
AK Steel 7.625% 5/15/20		105,000		104,213
ArcelorMittal 10.35% 6/1/19		410,000		501,737
#FMG Resources August 2006 144A 6.875% 4/1/22		567,000		579,049
#Gerdau Holdings 144A 7.00% 1/20/20		145,000		163,850
Novelis 8.75% 12/15/20		215,000		230,856
Ryerson
9.00% 10/15/17		120,000		126,900
11.25% 10/15/18		32,000		35,360
#Tupy Overseas 144A 6.625% 7/17/24		430,000		439,675
#Vedanta Resources 144A 6.00% 1/31/19		200,000		203,000
#Yamana Gold 144A 4.95% 7/15/24		170,000		169,555


				2,554,195

Multi-Utilities–0.83%
Ameren Illinois 9.75% 11/15/18		1,087,000		1,406,636
CenterPoint Energy 5.95% 2/1/17		10,000		11,036
CMS Energy 6.25% 2/1/20		215,000		252,218
ŸIntegrys Energy Group 6.11% 12/1/66		325,000		331,601
NiSource Finance 6.125% 3/1/22		135,000		158,311
Puget Energy 6.00% 9/1/21		130,000		151,385
SCANA 4.125% 2/1/22		150,000		154,999
ŸWisconsin Energy 6.25% 5/15/67		320,000		331,399


				2,797,585

Oil, Gas & Consumable Fuels–4.27%
Anadarko Petroleum 3.45% 7/15/24		175,000		172,236
California Resources
#144A 5.50% 9/15/21		145,000		147,356
#144A 6.00% 11/15/24		145,000		149,350
Chaparral Energy 7.625% 11/15/22		45,000		46,350


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Chesapeake Energy 5.75% 3/15/23		65,000	$	69,550
Cimarex Energy 4.375% 6/1/24		140,000		141,400
CNOOC Nexen Finance 2014 4.25% 4/30/24		290,000		294,494
Continental Resources 4.50% 4/15/23		570,000		591,458
El Paso Pipeline Partners Operating 4.30% 5/1/24		385,000		384,403
ŸEnbridge Energy Partners 8.05% 10/1/37		470,000		531,100
Energy Transfer Partners
5.15% 2/1/43		175,000		169,683
5.95% 10/1/43		445,000		478,750
9.70% 3/15/19		253,000		324,053
#Energy XXI Gulf Coast 144A 6.875% 3/15/24		210,000		197,925
EnLink Midstream Partners 4.40% 4/1/24		420,000		436,753
ŸEnterprise Products Operating 7.034% 1/15/68		505,000		571,074
Halcon Resources 8.875% 5/15/21		180,000		178,200
#KazMunayGas National JSC 144A 9.125% 7/2/18		235,000		275,831
Kinder Morgan Energy Partners 9.00% 2/1/19		440,000		548,729
Laredo Petroleum 7.375% 5/1/22		235,000		247,925
#Lukoil International Finance 144A 6.125% 11/9/20		200,000		202,000
Marathon Petroleum 4.75% 9/15/44		655,000		631,235
Midstates Petroleum 9.25% 6/1/21		305,000		303,475
Murphy Oil USA 6.00% 8/15/23		285,000		298,537
Newfield Exploration 5.625% 7/1/24		195,000		209,625
Oasis Petroleum 6.875% 3/15/22		200,000		212,000
#Oleoducto Central 144A 4.00% 5/7/21		400,000		400,680
ONGC Videsh 2.50% 5/7/18		200,000		198,248
Pacific Rubiales Energy
#144A 5.375% 1/26/19		115,000		117,013
#144A 7.25% 12/12/21		105,000		114,713
PDC Energy 7.75% 10/15/22		75,000		80,625
#Pertamina Persero 144A 4.875% 5/3/22		200,000		200,700
Petrobras Global Finance 4.875% 3/17/20		350,000		355,497
Petrobras International Finance 5.375% 1/27/21		125,000		126,977


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Petroleos de Venezuela 9.00% 11/17/21		155,000	$	104,237
Petroleos Mexicanos 6.50% 6/2/41		170,000		197,489
Plains All American Pipeline 8.75% 5/1/19		435,000		551,384
Plains Exploration & Production 6.50% 11/15/20		113,000		124,031
Pride International 6.875% 8/15/20		875,000		1,032,869
#•PTT Exploration & Production 144A 4.875% 12/29/49		295,000		298,687
Samson Investment 9.75% 2/15/20		245,000		223,563
Statoil 2.90% 11/8/20		150,000		153,176
Talisman Energy 5.50% 5/15/42		520,000		531,217
•TransCanada PipeLines 6.35% 5/15/67		560,000		579,600
Williams 4.55% 6/24/24		165,000		163,548
Williams Partners 7.25% 2/1/17		340,000		383,095
#Woodside Finance 144A 8.75% 3/1/19		380,000		475,331
#YPF 144A 8.75% 4/4/24		124,000		126,790


				14,352,962

Paper & Forest Products–0.25%
Fibria Overseas Finance 5.25% 5/12/24		155,000		153,256
Georgia-Pacific 8.00% 1/15/24		520,000		697,554


				850,810

Pharmaceuticals–0.42%
#Forest Laboratories 144A 4.375% 2/1/19		205,000		215,988
Perrigo #144A 4.00% 11/15/23		200,000		203,851
#144A 5.30% 11/15/43		200,000		216,801
#Salix Pharmaceuticals 144A 6.00% 1/15/21		195,000		211,575
#Valeant Pharmaceuticals International 144A 5.625% 12/1/21		60,000		59,925
#Valeant Pharmaceuticals International Escrow 144A 6.375% 10/15/20		105,000		108,281
Zoetis 3.25% 2/1/23		400,000		391,888


				1,408,309

Real Estate Investment Trusts–1.39%
Alexandria Real Estate Equities
3.90% 6/15/23		420,000		419,281
4.50% 7/30/29		110,000		110,313


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Real Estate Investment Trusts (continued)
American Tower Trust I #144A 1.551% 3/15/43		95,000	$	93,535
#144A 3.07% 3/15/23		245,000		241,256
Brandywine Operating Partnership 4.10% 10/1/24		35,000		34,651
CBL & Associates 5.25% 12/1/23		165,000		177,477
Corporate Office Properties 3.60% 5/15/23		175,000		167,679
5.25% 2/15/24		180,000		192,185
DDR 4.75% 4/15/18		100,000		107,967
7.50% 4/1/17		110,000		125,186
7.875% 9/1/20		365,000		454,106
Excel Trust 4.625% 5/15/24		115,000		117,121
Geo Group 5.875% 10/15/24		150,000		151,125
Healthcare Trust of America Holdings 3.375% 7/15/21		105,000		104,629
Hospitality Properties Trust 4.50% 3/15/25		195,000		193,027
Host Hotels & Resorts 3.75% 10/15/23		190,000		188,234
4.75% 3/1/23		235,000		249,816
5.875% 6/15/19		115,000		121,870
Regency Centers 4.80% 4/15/21		175,000		190,819
5.875% 6/15/17		171,000		189,620
#Trust F 144A 5.25% 12/15/24		200,000		208,500
#WEA Finance 144A 3.75% 9/17/24		420,000		419,724
Weyerhaeuser 4.625% 9/15/23		395,000		419,127


				4,677,248

Real Estate Management & Development–0.05%
WP Carey 4.60% 4/1/24		160,000		165,702


				165,702

Road & Rail–0.18%
Burlington Northern Santa Fe 3.40% 9/1/24		145,000		143,277
4.90% 4/1/44		280,000		295,992
Norfolk Southern 3.85% 1/15/24		165,000		170,956


				610,225

Semiconductors & Semiconductor Equipment–0.35%
Broadcom 4.50% 8/1/34		50,000		51,174
National Semiconductor 6.60% 6/15/17		605,000		690,442
#Samsung Electronics America 144A 1.75% 4/10/17		415,000		416,485


				1,158,101


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Software–0.33%
#Activision Blizzard 144A 6.125% 9/15/23		235,000	$	250,275
#BMC Software Finance 144A 8.125% 7/15/21		130,000		125,450
#MTS International Funding 144A 8.625% 6/22/20		265,000		282,225
Oracle 3.40% 7/8/24		320,000		319,388
4.50% 7/8/44		140,000		142,071


				1,119,409

Specialty Retail–0.53%
Bed Bath & Beyond 4.915% 8/1/34		225,000		224,296
5.165% 8/1/44		170,000		166,832
#~Chinos Intermediate Holdings 144A PIK 7.75% 5/1/19		205,000		194,750
QVC 4.375% 3/15/23		360,000		359,796
#144A 5.45% 8/15/34		230,000		226,583
Sally Holdings 5.75% 6/1/22		175,000		179,375
Signet UK Finance 4.70% 6/15/24		430,000		433,200


				1,784,832

Transportation Infrastructure–0.15%
AP Moeller-Maersk #144A 2.55% 9/22/19		115,000		115,412
#144A 3.75% 9/22/24		165,000		165,780
#DP World 144A 6.85% 7/2/37		200,000		225,260


				506,452

Wireless Telecommunication Services–0.69%
#Crown Castle Towers 144A 4.883% 8/15/20		900,000		994,226
#Millicom International Cellular 144A 6.625% 10/15/21		200,000		208,500
Sprint #144A 7.125% 6/15/24		340,000		343,825
#144A 7.875% 9/15/23		75,000		79,687
T-Mobile USA 6.125% 1/15/22		270,000		272,363
#Turk Telekomunikasyon AS 144A 3.75% 6/19/19		200,000		195,627
#VimpelCom 144A 7.748% 2/2/21		200,000		207,000


				2,301,228

Total Corporate Bonds (Cost $107,073,468)				109,852,658

MUNICIPAL BONDS–0.39%
Golden State, California Tobacco Securitization Asset-Back Senior Notes Series A-1 5.125% 6/1/47		95,000		69,866


	Principal Amount°		Value (U.S. $)

MUNICIPAL BONDS (continued)
Golden State, California Tobacco Securitization Asset-Back Senior Notes Series A-1 (continued) 5.75% 6/1/47		105,000	$	83,757
New Jersey State Transportation Trust Fund Series AA 5.00% 6/15/44		110,000		117,011
New York City, New York Series I 5.00% 8/1/22		75,000		89,844
New York State Thruway Authority Series A 5.00% 5/1/19		105,000		121,856
Oregon State Taxable Pension 5.892% 6/1/27		485,000		592,558
State of Maryland Local Facilities Series A 5.00% 8/1/21		105,000		127,397
Texas Private Activity Bond Surface Transportation Senior Lien Revenue Bond (NTE Mobility) 6.75% 6/30/43		80,000		96,152

Total Municipal Bonds (Cost $1,151,348)				1,298,441

NON-AGENCY ASSET-BACKED SECURITIES–1.09%
AEP Texas Central Transition Funding II Series 2006-A A4 5.17% 1/1/18		125,000		135,054
•Ally Master Owner Trust Series 2013-2 A 0.604% 4/15/18		230,000		230,358
•American Express Credit Account Master Trust Series 2013-2 A 0.574% 5/17/21		125,000		125,497
#Applebee’s Series 2014-1 A2 144A 4.277% 9/5/44		290,000		287,243
#ARL Second Series 2014-1A A1 144A 2.92% 6/15/44		175,369		174,562
Avis Budget Rental Car Funding AESOP #Series 2011-3A A 144A 3.41% 11/20/17		140,000		145,779
#Series 2013-1A A 144A 1.92% 9/20/19		190,000		188,341
#Series 2014-1A A 144A 2.46% 7/20/20		240,000		239,900
•BA Credit Card Trust Series 2014-A3 A 0.444% 1/15/20		155,000		155,021
Capital One Multi-Asset Execution Trust Series 2007-A7 A7 5.75% 7/15/20		100,000		111,886
CenterPoint Energy Transition Bond IV Series 2012-1 A3 3.028% 10/15/25		200,000		200,376
fCiticorp Residential Mortgage Securities Series 2006-3 A5 5.948% 11/25/36		400,000		399,992
Discover Card Execution Note Trust Series 2012-A6 A6 1.67% 1/18/22		400,000		389,506


	Principal Amount°		Value (U.S. $)

NON-AGENCY ASSET-BACKED SECURITIES (continued)
#Great America Leasing Receivables Series 2013-1 B 144A 1.44% 5/15/18		100,000	$	99,728
#HOA Funding Series 2014-1A A2 144A 4.846% 8/20/44		305,000		303,567
Mid-State Trust Series 11 A1 4.864% 7/15/38		90,951		96,871
#MMAF Equipment Finance Series 2014-AA A4 144A 1.59% 2/8/22		195,000		192,983
#•Trafigura Securitisation Finance Series 2012-1A A 144A 2.554% 10/15/15		180,000		180,745


Total Non-Agency Asset-Backed Securities (Cost $3,601,207)				3,657,409

NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.28%
Bank of America Alternative Loan Trust
Series 2005-3 2A1 5.50% 4/25/20		15,074		15,560
Series 2005-6 7A1 5.50% 7/25/20		14,701		14,979
•ChaseFlex Trust Series 2006-1 A4 5.099% 6/25/36		255,000		228,146
Credit Suisse First Boston Mortgage Securities Series 2005-5 6A3 5.00% 7/25/35		136,510		136,796
#•GSMPS Mortgage Loan Trust 144A Series 1998-3 A 144A 7.75% 9/19/27		29,858		31,314
JPMorgan Mortgage Trust Series 2006-S1 1A1 6.00% 4/25/36		140,721		142,127
•MASTR ARM Trust Series 2003-6 1A2 2.45% 12/25/33		25,393		25,385
#•MASTR Specialized Loan Trust Series 2005-2 A2 144A 5.006% 7/25/35		15,283		15,283
#•Sequoia Mortgage Trust Series 2013-11 B1 144A 3.716% 9/25/43		97,758		95,179
¿Structured Asset Securities Corporation Mortgage Pass Through Certificates Series 2004-20 2A1 5.50% 11/25/34		76,909		78,526
¿Washington Mutual Mortgage Pass Through Certificates Series 2003-S10 A2 5.00% 10/25/18		48,812		50,236


		Principal Amount°		Value (U.S. $)

NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
Wells Fargo Mortgage Backed Securities Trust Series 2006-2 3A1 5.75% 3/25/36			97,144	$	98,738


Total Non-Agency Collarterized Mortgage Obligations (Cost $828,675)					932,269

DREGIONAL BONDS–0.02%
Australia–0.01%
Queensland Treasury #144A 4.75% 7/21/25	AUD		36,000		33,408
Canada–0.01%
Province of Ontario Canada 3.45% 6/2/45	CAD		37,000		32,190


Total Regional Bonds (Cost $67,207)					65,598

«SENIOR SECURED LOANS–5.69%
Activision Blizzard Tranche B 1st Lien 3.25% 9/12/20			504,263		503,606
Allegion US Holding Tranche B 3.00% 12/26/20			610,388		608,099
Aramark Tranche E 3.25% 9/7/19			281,300		276,905
Azure Midstream Tranche B 6.50% 10/21/18			195,729		194,261
BJ’s Wholesale Club Tranche B 1st Lien 4.50% 9/26/19			555,077		547,531
Caesars Growth Partners Tranche B 1st Lien 6.25% 5/8/21			204,488		194,583
Calpine Construction Finance Tranche B 3.00% 5/1/20			452,455		438,655
Charter Communications Tranche B 1st Lien 4.25% 8/12/21			255,000		254,695
Chrysler Group Tranche B 1st Lien 3.50% 5/24/17			39,389		39,131
Clear Channel Communications Tranche B 3.65% 1/29/16			251,908		249,988
Community Health Systems Tranche D 4.25% 1/27/21			401,925		401,243
Community Health Systems Tranche E 3.25% 1/25/17			104,250		103,860
Delta Air Lines Tranche B 1st Lien 3.25% 4/20/17			213,839		211,647
Drillships Financing Holdings Tranche B1 6.00% 2/17/21			202,950		195,086
Emdeon 1st Lien 3.75% 11/2/18			305,615		302,653
First Data Tranche B 1st Lien 4.00% 3/24/21			953,637		942,017
HCA Tranche B4 2.75% 5/1/18			792,000		783,751


	Principal Amount°		Value (U.S. $)

«SENIOR SECURED LOANS (continued)
HCA Tranche B5 1st Lien 2.75% 3/31/17		525,690	$	523,062
Hilton Worldwide Finance Tranche B2 3.50% 9/23/20		717,267		707,103
Huntsman International Tranche B 3.75% 10/11/20		810,000		802,913
IASIS Healthcare Tranche B 1st Lien 4.50% 5/3/18		117,007		116,800
Immucor Tranche B2 5.00% 8/19/18		498,135		495,644
Infor US Tranche B5 1st Lien 3.75% 6/3/20		540,260		528,949
Intelsat Jackson Holdings Tranche B2 3.75% 6/30/19		604,575		596,036
KIK Custom Products 1st Lien 5.50% 5/17/19		992,476		993,924
Landry’s Tranche B 4.00% 4/24/18		189,912		188,675
Level 3 Financing Tranche B 4.00% 1/15/20		300,000		295,087
Moxie Liberty Tranche B 7.50% 8/21/20		20,000		20,450
National Vision 4.00% 3/6/21		58,827		57,430
NEP/NCP Tranche B 1st Lien 4.25% 1/22/20		199,001		194,689
Novelis Tranche B 3.75% 3/10/17		206,257		204,194
Nuveen Investments 1st Lien 4.00% 5/13/17		270,000		269,685
Nuveen Investments 2nd Lien 6.50% 2/28/19		1,045,000		1,049,833
OSI Restaurants Tranche B 1st Lien 3.50% 10/26/19		121,500		121,335
Patheon 4.25% 1/23/21		359,100		351,663
Republic of Angola 6.25% 12/16/23		400,000		400,000
Samson Investment 2nd Lien 5.00% 9/25/18		380,000		368,125
Scientific Games International 4.25% 5/22/20		312,638		307,168
Sensus USA 2nd Lien 8.50% 4/13/18		300,000		299,250
Smart & Final Tranche B 1st Lien 4.75% 11/15/19		89,088		89,033
Sprouts Farmers 4.00% 4/12/20		211,479		210,642
Stena 1st Lien 4.00% 2/21/21		398,000		389,045
Univision Communications Tranche C4 4.00% 3/1/20		729,521		716,984

Principal
Amount°

Value

(U.S. $)

«SENIOR SECURED LOANS (continued)

USI Insurance Services Tranche B 1st Lien
4.25% 12/3/18

206,341

202,988

Valeant Pharmaceuticals Tranche BE
3.75% 8/5/20

238,859

236,411

Wide Open West Finance
4.75% 3/27/19

1,250,950

1,248,861

Zayo Group Tranche B 1st Lien
4.00% 7/2/19

899,058

887,766

Total Senior Secured Loans
(Cost $19,234,176)

19,121,456

DSOVEREIGN BONDS–1.20%

Brazil–0.06%

Brazil Notas do Tesouro Nacional Series F

10.00% 1/1/17

BRL

170,000

66,417

10.00% 1/1/21

BRL

387,000

142,356

208,773

Chile–0.05%

Chile Government International Bond
5.50% 8/5/20

CLP

85,000,000

150,304

150,304

Colombia–0.08%

Colombia Government International Bond

4.375% 3/21/23

COP

377,000,000

161,319

9.85% 6/28/27

COP

154,000,000

96,324

257,643

Guatemala–0.13%

#Republic of Guatemala 144A 5.75% 6/6/22

400,000

443,000

443,000

Iceland–0.07%

#Republic of Iceland 144A
5.875% 5/11/22

200,000

225,635

225,635

Indonesia–0.07%

#Indonesia Government International Bond 144A
3.375% 4/15/23

IDR

254,000

237,490

237,490

Japan–0.02%

Japanese Government CPI Linked Bond
0.10% 3/10/24

JPY

6,071,100

59,709

59,709

Principal

Amount°

Value

(U.S. $)

DSOVEREIGN BONDS

(continued)

Kenya–0.06%

#Kenya Government
International Bond 144A
5.875% 6/24/19

200,000

206,250

206,250

Mexico–0.06%

Mexican Bonos

6.50% 6/10/21

MXN

577,800

45,089

6.50% 6/9/22

MXN

2,017,000

155,904

200,993

Norway–0.02%

Kommunalbanken
5.00% 3/28/19

NZD

91,000

72,112

72,112

Pakistan–0.06%

#Pakistan Government
International Bond 144A
7.25% 4/15/19

200,000

202,750

202,750

Philippines–0.07%

Philippine Government
International Bond
6.25% 1/14/36

PHP

10,000,000

239,433

239,433

Poland–0.03%

Poland Government Bond

^2.242% 7/25/16

PLN

137,000

39,935

5.25% 10/25/17

PLN

151,000

49,839

89,774

Portugal–0.03%

#Portugal Government
International Bond 144A
5.125% 10/15/24

88,000

91,258

91,258

Republic of Korea–0.06%

Korea Treasury Inflation-Linked Bond
1.125% 6/10/23

KRW

220,184,026

202,676

202,676

Romania–0.04%

#Romanian Government
International Bond 144A
4.875% 1/22/24

138,000

146,970

146,970

Principal

Amount°

Value

(U.S. $)

DSOVEREIGN BONDS (continued)

Senegal–0.06%

#Senegal Government
International Bond 144A
6.25% 7/30/24

200,000

200,500

200,500

South Africa–0.09%

South Africa Government Bond 8.00% 1/31/30

ZAR

3,820,000

318,065

318,065

Sri Lanka–0.06%

#Sri Lanka Government
International Bond 144A
6.00% 1/14/19

200,000

211,500

211,500

Sweden–0.02%

Sweden Government Bond

1.50% 11/13/23

SEK

425,000

59,647

2.50% 5/12/25

SEK

40,000

6,100

65,747

United Kingdom–0.06%

United Kingdom Gilt
Inflation-Linked Bond
0.125% 3/22/24

GBP

114,050

195,629

195,629

Total Sovereign Bonds
(Cost $4,096,752)

4,026,211

SUPRANATIONAL BANKS–0.12%

European Bank for Reconstruction & Development
6.00% 3/3/16

INR

9,400,000

151,456

Inter-American Development Bank
7.25% 7/17/17

IDR

520,000,000

42,426

International Bank for Reconstruction & Development

•2.898% 9/24/18

AUD

216,000

189,284

4.625% 10/6/21

NZD

35,000

27,199

Total Supranational Banks
(Cost $427,998)

410,365

U.S. TREASURY OBLIGATIONS–1.60%

¥U.S. Treasury Bond
3.125% 8/15/44

5,305,000

5,220,868

U.S. Treasury Notes

1.75% 9/30/19

135,000

134,826

2.375% 8/15/24

15,000

14,828

Total U.S. Treasury Obligations
(Cost $5,352,657)

5,370,522

The following foreign currency exchange contracts and futures contracts were outstanding at September 30, 2014:

The use of foreign currency exchange contracts and futures contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The foreign currency exchange contracts and notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.

For information on the Fund’s policy regarding valuation of investments, fair value heirarchy levels and other significant accounting policies, please refer to Notes 1 and 3 of the “Notes to Financial Statements” as disclosed in the Fund’s most recent semiannual report.


	Number of Shares		Value (U.S. $)

COMMON STOCK–50.85%
U.S. MARKETS–32.04%
Aerospace & Defense–1.02%
Boeing		470	$	59,869
†Esterline Technologies		585		65,093
Honeywell International		810		75,427
†KEYW Holding		3,150		34,871
Lockheed Martin		490		89,562
Northrop Grumman		2,600		342,576
Raytheon		3,400		345,508
Rockwell Collins		340		26,690
United Technologies		790		83,424


				1,123,020

Air Freight & Logistics–0.14%
FedEx		590		95,255
†XPO Logistics		1,450		54,621


				149,876

Auto Components–0.37%
Borg Warner		720		37,879
Johnson Controls		7,400		325,600
†Tenneco		900		47,079


				410,558

Automobiles–0.07%
Ford Motor		4,920		72,767


				72,767

Banks–1.08%
BB&T		9,000		334,890
BBCN Bancorp		2,130		31,077
Bryn Mawr Bank		390		11,049
Cardinal Financial		2,080		35,506
Citigroup		2,190		113,486
City Holding		775		32,651
†First NBC Bank Holding		950		31,113
Flushing Financial		1,380		25,213
@Independent Bank (Massachusetts)		930		33,220
JPMorgan Chase		2,680		161,443
Prosperity Bancshares		760		43,449
Sterling Bancorp		3,165		40,480
Susquehanna Bancshares		3,420		34,200
†Texas Capital Bancshares		765		44,125
Webster Financial		1,250		36,425
Wells Fargo		2,610		135,381
†Western Alliance Bancorp		1,695		40,511


				1,184,219

Beverages–0.16%
Coca-Cola		840		35,834
PepsiCo		1,460		135,911


				171,745

Biotechnology–1.10%
†Acorda Therapeutics		1,155		39,131


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Biotechnology (continued)
†Alkermes		910	$	39,012
†Celgene		8,660		820,795
†Cepheid		1,120		49,314
†Gilead Sciences		1,340		142,643
†Isis Pharmaceuticals		555		21,551
†NPS Pharmaceuticals		1,420		36,920
†Spectrum Pharmaceuticals		2,610		21,245
†Vertex Pharmaceuticals		410		46,047


				1,216,658

Building Products–0.04%
AAON		2,075		35,296
†Continental Building Products		213		3,110


				38,406

Capital Markets–0.71%
Ameriprise Financial		500		61,690
Bank of New York Mellon		8,500		329,205
BlackRock		200		65,664
Evercore Partners Class A		1,505		70,735
Greenhill		490		22,780
Invesco		1,540		60,799
Raymond James Financial		1,230		65,903
State Street		920		67,721
†Stifel Financial		840		39,388


				783,885

Chemicals–0.61%
Axiall		900		32,229
†Chemtura		1,860		43,394
duPont (E.I.) deNemours		5,810		416,926
Eastman Chemical		880		71,183
Huntsman		1,650		42,883
Innophos Holdings		490		26,994
Quaker Chemical		245		17,564
†Taminco		810		21,141


				672,314

Commercial Services & Supplies–0.49%
McGrath RentCorp		1,180		40,356
Republic Services		1,130		44,093
Tetra Tech		1,175		29,351
United Stationers		1,170		43,957
US Ecology		815		38,109
Waste Management		7,200		342,216


				538,082

Communications Equipment–1.02%
Cisco Systems		15,900		400,203
†NETGEAR		980		30,625
Plantronics		660		31,535


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Communications Equipment (continued)
QUALCOMM		8,880	$	663,958


				1,126,321

Construction & Engineering–0.07%
Granite Construction		1,105		35,150
†MasTec		640		19,597
†MYR Group		890		21,431


				76,178

Consumer Finance–0.09%
Capital One Financial		1,160		94,679


				94,679

Containers & Packaging–0.06%
MeadWestvaco		1,680		68,779


				68,779

Diversified Financial Services–0.48%
CME Group		2,000		159,910
IntercontinentalExchange Group		1,905		371,570


				531,480

Diversified Telecommunication Services–0.79%
AT&T		13,170		464,111
Atlantic Tele-Network		455		24,525
†inContact		3,930		34,171
Verizon Communications		7,000		349,930


				872,737

Electric Utilities–0.42%
Cleco		820		39,483
Edison International		6,530		365,158
OGE Energy		1,560		57,892


				462,533

Electrical Equipment–0.06%
Acuity Brands		135		15,891
Eaton		800		50,696


				66,587

Electronic Equipment, Instruments & Components–0.11%
Anixter International		475		40,299
†FARO Technologies		900		45,675
†Rofin-Sinar Technologies		1,485		34,244


				120,218

Energy Equipment & Services–0.52%
Bristow Group		295		19,824
†C&J Energy Services		1,005		30,703
Core Laboratories		250		36,587
Halliburton		5,000		322,550
†Pioneer Energy Services		895		12,548
†RigNet		890		36,001


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Energy Equipment & Services (continued)
Schlumberger		1,160	$	117,960


				576,173

Food & Staples Retailing–0.92%
Casey’s General Stores		1,155		82,813
CVS Health		5,560		442,520
Walgreen		8,250		488,977


				1,014,310

Food Products–1.00%
Archer-Daniels-Midland		6,600		337,260
General Mills		1,330		67,099
J&J Snack Foods		390		36,488
Kraft Foods Group		5,833		328,981
Mondelez International Class A		9,700		332,371


				1,102,199

Health Care Equipment & Supplies–0.50%
Baxter International		4,700		337,319
Conmed		1,020		37,577
CryoLife		2,470		24,379
†DexCom		1,050		41,989
†Merit Medical Systems		1,465		17,404
†Quidel		1,405		37,752
West Pharmaceutical Services		1,235		55,279


				551,699

Health Care Providers & Services–0.90%
†Air Methods		990		54,995
Cardinal Health		4,500		337,140
†Cross Country Healthcare		2,570		23,875
†Express Scripts Holding		1,320		93,232
Quest Diagnostics		5,500		333,740
UnitedHealth Group		1,360		117,300
†WellCare Health Plans		525		31,679


				991,961

Hotels, Restaurants & Leisure–0.32%
†Buffalo Wild Wings		315		42,295
Cheesecake Factory		945		42,997
†Del Frisco’s Restaurant Group		1,485		28,423
Jack in the Box		970		66,144
McDonald’s		390		36,976
†Popeyes Louisiana Kitchen		1,215		49,207
Starbucks		1,090		82,251


				348,293

Household Products–0.19%
Kimberly-Clark		520		55,936
Procter & Gamble		1,880		157,431


				213,367


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Industrial Conglomerates–0.13%
General Electric		5,590	$	143,216


				143,216

Insurance–0.99%
AFLAC		1,190		69,317
Allstate		5,500		337,535
American Equity Investment Life Holding		1,960		44,845
AMERISAFE		710		27,768
Fidelity & Guaranty Life		1,465		31,278
@Infinity Property & Casualty		430		27,524
Marsh & McLennan		6,500		340,210
Primerica		695		33,513
Prudential Financial		550		48,367
@Selective Insurance Group		1,340		29,668
Travelers		820		77,031
United Fire Group		935		25,965


				1,093,021

Internet & Catalog Retail–0.87%
†Liberty Interactive Class A		16,400		467,728
†Priceline Group		390		451,846
†Shutterfly		765		37,286


				956,860

Internet Software & Services–1.71%
†Brightcove		2,255		12,583
†eBay		7,875		445,961
†Equinix		1,800		382,464
†Facebook Class A		1,190		94,058
†Google		460		265,586
†Google Class A		675		397,177
†GrubHub		465		15,922
j2 Global		915		45,164
†SciQuest		1,995		30,005
†Yahoo		1,800		73,350
†Yelp		1,775		121,144


				1,883,414

IT Services–1.58%
Accenture Class A		1,070		87,012
†ExlService Holdings		610		14,890
International Business Machines		140		26,576
†InterXion Holding		1,245		34,474
MasterCard Class A		7,950		587,664
†TeleTech Holdings		1,315		32,323
Visa Class A		2,950		629,441
Xerox		25,000		330,750


				1,743,130


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Life Sciences Tools & Services–0.09%
Thermo Fisher Scientific		850	$	103,445


				103,445

Machinery–0.28%
Barnes Group		1,455		44,159
Caterpillar		280		27,728
†Chart Industries		235		14,366
Columbus McKinnon		1,430		31,446
Cummins		300		39,594
Deere		380		31,156
ESCO Technologies		700		24,346
Kadant		1,100		42,955
Parker Hannifin		470		53,651


				309,401

Media–0.17%
=Century Communications		5,000		0
Cinemark Holdings		570		19,403
Comcast Class A		1,630		87,205
National CineMedia		1,985		28,802
Regal Entertainment Group Class A		930		18,488
Viacom Class B		440		33,854


				187,752

Metals & Mining–0.08%
Kaiser Aluminum		475		36,205
Materion		720		22,082
Worthington Industries		825		30,707


				88,994

Multiline Retail–0.13%
Macy’s		1,370		79,707
Nordstrom		950		64,951


				144,658

Multi-Utilities–0.13%
MDU Resources Group		1,740		48,389
NorthWestern		755		34,247
Sempra Energy		560		59,013


				141,649

Oil, Gas & Consumable Fuels–2.66%
†Bonanza Creek Energy		215		12,233
†Carrizo Oil & Gas		605		32,561
Chevron		4,090		488,019
ConocoPhillips		4,820		368,826
†Diamondback Energy		310		23,182
EOG Resources		6,070		601,051
Exxon Mobil		1,480		139,194
†@Jones Energy Class A		1,540		28,921
Kinder Morgan		5,200		199,368
†Kodiak Oil & Gas		2,770		37,589
Marathon Oil		9,940		373,645


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Oil, Gas & Consumable Fuels (continued)
Occidental Petroleum		4,190	$	402,869
†Parsley Energy Class A		370		7,892
†Rosetta Resources		875		38,990
†RSP Permian		570		14,569
Williams		3,025		167,434


				2,936,343

Paper & Forest Products–0.10%
†Boise Cascade		1,280		38,579
International Paper		760		36,282
Neenah Paper		725		38,773


				113,634

Pharmaceuticals–2.23%
AbbVie		2,020		116,675
†Actavis		240		57,907
†Akorn		1,105		40,078
Allergan		3,475		619,210
†Auxilium Pharmaceuticals		1,230		36,715
Johnson & Johnson		3,460		368,801
†Medicines		675		15,066
Merck		7,900		468,312
Perrigo		1,465		220,028
Pfizer		16,379		484,327
†Prestige Brands Holdings		810		26,220


				2,453,339

Professional Services–0.12%
Kforce		2,240		43,837
Nielsen Holdings		1,050		46,547
†WageWorks		1,015		46,213


				136,597

Real Estate Investment Trusts–2.90%
American Campus Communities		525		19,136
American Realty Capital Properties		1,800		21,708
American Tower		910		85,203
Apartment Investment & Management		850		27,047
AvalonBay Communities		600		84,582
Boston Properties		800		92,608
Brandywine Realty Trust		2,600		36,582
Camden Property Trust		375		25,699
Corporate Office Properties Trust		700		18,004
Cousins Properties		1,650		19,717
Crown Castle International		6,625		533,511
DCT Industrial Trust		6,135		46,074
DDR		3,000		50,190
Douglas Emmett		1,625		41,714
Duke Realty		3,200		54,976
DuPont Fabros Technology		1,355		36,639
EastGroup Properties		490		29,689
EPR Properties		1,320		66,898


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Real Estate Investment Trusts (continued)
Equity Lifestyle Properties		425	$	18,003
Equity One		850		18,385
Equity Residential		1,575		96,989
Essex Property Trust		325		58,094
Extra Space Storage		450		23,207
Federal Realty Investment Trust		175		20,731
First Industrial Realty Trust		1,850		31,283
First Potomac Realty Trust		1,000		11,750
General Growth Properties		3,450		81,247
Health Care REIT		450		28,067
Healthcare Realty Trust		950		22,496
Healthcare Trust of America		1,700		19,720
Highwoods Properties		950		36,955
Host Hotels & Resorts		5,370		114,542
Kilroy Realty		550		32,692
Kimco Realty		1,700		37,247
Kite Realty Group Trust		1,797		43,559
LaSalle Hotel Properties		1,795		61,461
Lexington Realty Trust		1,950		19,091
Liberty Property Trust		450		14,967
LTC Properties		175		6,456
Macerich		500		31,915
National Retail Properties		2,020		69,831
Pebblebrook Hotel Trust		675		25,205
Post Properties		575		29,521
Prologis		2,250		84,825
PS Business Parks		275		20,939
Public Storage		425		70,482
Ramco-Gershenson Properties Trust		3,240		52,650
Regency Centers		725		39,027
RLJ Lodging Trust		1,000		28,470
Sabra Health Care REIT		500		12,160
Simon Property Group		1,350		221,967
SL Green Realty		650		65,858
Sovran Self Storage		435		32,347
Spirit Realty Capital		2,475		27,151
†Strategic Hotels & Resorts		2,650		30,873
Tanger Factory Outlet Centers		975		31,902
Taubman Centers		250		18,250
UDR		1,500		40,875
Ventas		1,350		83,633
Vornado Realty Trust		925		92,463


				3,197,263

Road & Rail–0.17%
Hunt (J.B.) Transport Services		530		39,247
†Roadrunner Transportation Systems		1,420		32,362
Union Pacific		1,090		118,178


				189,787


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Semiconductors & Semiconductor Equipment–0.90%
†Applied Micro Circuits		3,575	$	25,025
Avago Technologies		670		58,290
Broadcom Class A		8,400		339,528
Intel		12,120		422,018
Maxim Integrated Products		2,110		63,806
†Semtech		1,600		43,440
†Synaptics		535		39,162


				991,269

Software–1.79%
†Adobe Systems		7,150		494,709
†Callidus Software		1,245		14,965
†Guidewire Software		775		34,363
Intuit		4,450		390,043
Microsoft		18,180		842,825
†Proofpoint		1,335		49,582
†Rally Software Development		1,625		19,516
†salesforce.com		960		55,229
†SS&C Technologies Holdings		860		37,745
†Tyler Technologies		315		27,846


				1,966,823

Specialty Retail–1.02%
DSW Class A		1,360		40,950
†Express		1,450		22,635
L Brands		6,725		450,441
Lowe’s		6,400		338,688
†Sally Beauty Holdings		6,025		164,904
Tractor Supply		930		57,204
†Urban Outfitters		1,420		52,114


				1,126,936

Technology Hardware, Storage & Peripherals–0.33%
Apple		2,440		245,830
EMC		3,870		113,236


				359,066

Textiles, Apparel & Luxury Goods–0.38%
†G-III Apparel Group		540		44,744
†Iconix Brand Group		1,035		38,233
†Madden (Steven)		1,571		50,617
NIKE Class B		3,250		289,900


				423,494

Trading Companies & Distributors–0.04%
Applied Industrial Technologies		985		44,965


				44,965

Total U.S. Markets (Cost $21,236,732)				35,314,100


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS–11.06%
Aerospace & Defense–0.11%
Meggitt		16,973	$	124,147


				124,147

Air Freight & Logistics–0.29%
Deutsche Post		9,942		318,841


				318,841

Airlines–0.29%
@Westjet Airlines Class VV		11,243		314,445


				314,445

Auto Components–0.19%
Sumitomo Rubber Industries		14,700		208,975


				208,975

Automobiles–0.42%
Bayerische Motoren Werke		978		105,026
Toyota Motor		6,100		359,498


				464,524

Banks–1.50%
†ING Groep		17,410		248,713
Mitsubishi UFJ Financial Group		64,900		367,036
Nordea Bank		31,289		407,150
Standard Chartered		19,596		362,303
UniCredit		33,741		266,790


				1,651,992

Beverages–0.39%
Carlsberg Class B		2,855		253,844
Coca-Cola Amatil		22,773		175,064


				428,908

Chemicals–0.15%
Syngenta ADR		2,600		164,762


				164,762

Construction & Engineering–0.25%
Vinci		4,754		276,250


				276,250

Construction Materials–0.18%
Lafarge		2,760		198,781


				198,781

Containers & Packaging–0.22%
Rexam		30,057		239,632


				239,632

Diversified Telecommunication Services–0.44%
Nippon Telegraph & Telephone		7,774		483,531


				483,531

Energy Equipment & Services–0.41%
†Saipem		11,120		236,529


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Energy Equipment & Services (continued)
Subsea 7		14,895	$	212,710


				449,239

Food & Staples Retailing–0.12%
Tesco		43,540		131,425


				131,425

Food Products–0.33%
†Aryzta		4,225		364,457


				364,457

Household Durables–0.15%
Techtronic Industries		59,000		170,583


				170,583

Industrial Conglomerates–0.27%
Koninklijke Philips		9,286		296,337


				296,337

Insurance–0.35%
AXA		15,761		388,400


				388,400

IT Services–0.76%
†CGI Group Class A		14,165		478,639
Teleperformance		5,844		361,549


				840,188

Life Sciences Tools & Services–0.05%
†ICON		970		55,513


				55,513

Media–0.17%
Publicis Groupe		2,701		185,490


				185,490

Metals & Mining–0.36%
Anglo American ADR		2,400		26,924
AuRico Gold		19,500		68,085
Rio Tinto		4,572		224,685
Yamana Gold		13,226		79,367


				399,061

Multiline Retail–0.10%
Don Quijote		1,900		108,977


				108,977

Multi-Utilities–0.12%
National Grid		9,402		135,345


				135,345

Oil, Gas & Consumable Fuels–0.20%
Total		3,333		216,600


				216,600


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Pharmaceuticals–2.07%
Novartis		4,920	$	464,608
Novo Nordisk ADR		7,225		344,055
Sanofi		3,783		427,945
Stada Arzneimittel		5,243		208,640
Teva Pharmaceutical Industries ADR		15,600		838,500


				2,283,748

Road & Rail–0.22%
East Japan Railway		3,266		244,805


				244,805

Specialty Retail–0.33%
Nitori Holdings		5,840		361,588


				361,588

Textiles, Apparel & Luxury Goods–0.36%
Kering		843		169,994
Yue Yuen Industrial Holdings		75,500		228,984


				398,978

Trading Companies & Distributors–0.26%
ITOCHU		23,114		282,431


				282,431

Total Developed Markets (Cost $9,167,063)				12,187,953

×EMERGING MARKETS–7.75%
Airlines–0.06%
Gol Linhas Aereas Inteligentes ADR		14,100		67,821


				67,821

Automobiles–0.11%
Hyundai Motor		220		39,727
Mahindra & Mahindra		3,640		79,969


				119,696

Banks–0.93%
Banco Santander Brasil ADR		9,700		63,438
Bangkok Bank		16,730		105,223
China Construction Bank		99,028		69,378
Grupo Financiero Banorte		13,300		85,203
ICICI Bank ADR		2,000		98,200
Industrial & Commercial Bank of China		131,406		81,908
Itau Unibanco Holding ADR		6,808		94,495
KB Financial Group ADR		3,078		111,485
Powszechna Kasa Oszczednosci Bank Polski		3,379		40,474
@=Sberbank		43,680		83,293
Shinhan Financial Group		2,138		98,494
Standard Bank Group		7,940		91,921


				1,023,512


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Beverages–0.41%
†Anadolu Efes Biracilik Ve Malt Sanayii		8,063	$	93,146
Cia Cervecerias Unidas ADR		2,000		44,060
Fomento Economico Mexicano ADR		1,100		101,255
@Lotte Chilsung Beverage		85		175,084
Tsingtao Brewery		5,305		37,781


				451,326

Building Products–0.19%
@KCC		307		209,235


				209,235

Chemicals–0.10%
Braskem ADR		5,200		68,484
Sociedad Quimica y Minera de Chile ADR		1,800		47,052


				115,536

Construction & Engineering–0.04%
†Empresas ICA ADR		6,100		42,212


				42,212

Construction Materials–0.28%
†Cemex ADR		10,834		141,275
†Cemex Latam Holdings		4,717		42,022
Siam Cement		2,299		31,896
Siam Cement NVDR		1,800		24,973
Ultratech Cement		1,726		73,333


				313,499

Diversified Financial Services–0.06%
Remgro		3,031		61,241


				61,241

Diversified Telecommunication Services–0.11%
KT ADR		3,800		61,598
Telefonica Brasil ADR		2,780		54,710


				116,308

Electronic Equipment, Instruments & Components–0.19%
Hon Hai Precision Industry		43,664		137,796
†LG Display ADR		4,700		74,025


				211,821

Food & Staples Retailing–0.12%
Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR		1,800		78,498
Wal-Mart de Mexico Series V		23,259		58,555


				137,053

Food Products–0.43%
Brasil Foods ADR		4,240		100,870
China Mengniu Dairy		18,000		74,180
@Lotte Confectionery		60		123,930
Tingyi Cayman Islands Holding		22,000		57,799


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Food Products (continued)
@Uni-President China Holdings		119,600	$	119,525


				476,304

Hotels, Restaurants & Leisure–0.04%
@Arcos Dorados Holdings		7,600		45,448


				45,448

Household Durables–0.04%
LG Electronics		770		47,954


				47,954

Insurance–0.08%
Samsung Life Insurance		829		83,297


				83,297

Internet Software & Services–0.79%
†Alibaba Group Holding ADR		100		8,885
†Baidu ADR		3,225		703,792
†SINA		1,500		61,710
†Sohu.com		1,900		95,437


				869,824

IT Services–0.05%
†WNS Holdings ADR		2,310		51,998


				51,998

Media–0.18%
Grupo Televisa ADR		5,800		196,504


				196,504

Metals & Mining–0.13%
†Anglo American Platinum		868		28,158
@Gerdau		3,700		14,922
Gerdau ADR		2,700		12,960
†Impala Platinum Holdings		2,039		15,719
Vale ADR		6,600		72,666


				144,425

Multiline Retail–0.09%
Woolworths Holdings		16,508		102,262


				102,262

Oil, Gas & Consumable Fuels–1.11%
Cairn India		9,051		45,569
China Petroleum & Chemical		50,750		44,444
CNOOC ADR		300		51,762
@Gazprom ADR		16,397		115,435
LUKOIL ADR		1,700		86,530
PetroChina ADR		800		102,808
Petroleo Brasileiro ADR		12,900		183,051
PTT - Foreign		8,224		91,279
#Reliance Industries GDR 144A		10,702		326,411
@Rosneft GDR		10,702		62,361
Sasol ADR		1,500		81,735


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Oil, Gas & Consumable Fuels (continued)
Tambang Batubara Bukit Asam Persero		33,900	$	36,724


				1,228,109

Paper & Forest Products–0.11%
†Fibria Celulose ADR		7,731		85,041
Nine Dragons Paper Holdings		52,000		37,435


				122,476

Personal Products–0.09%
†Hypermarcas		13,300		95,862


				95,862

Real Estate Management & Development–0.07%
#@=Etalon Group GDR 144A		3,000		10,950
@UEM Sunrise		109,206		60,596


				71,546

Road & Rail–0.02%
America Latina Logistica		9,250		24,000


				24,000

Semiconductors & Semiconductor Equipment–0.27%
MediaTek		7,000		103,665
Taiwan Semiconductor Manufacturing		19,204		75,755
Taiwan Semiconductor Manufacturing ADR		3,400		68,612
United Microelectronics		117,600		48,710


				296,742

Technology Hardware, Storage & Peripherals–0.40%
Samsung Electronics		389		436,586


				436,586

Wireless Telecommunication Services–1.25%
America Movil ADR		6,100		153,720
China Mobile		12,798		147,926
China Mobile ADR		1,600		94,000
MegaFon GDR		3,240		82,231
Mobile Telesystems ADR		2,800		41,832
MTN Group		3,259		68,823
SK Telecom ADR		14,700		445,998
Tim Participacoes ADR		8,400		220,080
†Turkcell Iletisim Hizmetleri ADR		4,100		53,874
Vodacom Group		5,579		64,267


				1,372,751


Total Emerging Markets (Cost $7,299,244)				8,535,348


Total Common Stock (Cost $37,703,039)				56,037,401


CONVERTIBLE PREFERRED STOCK–0.21%
Alcoa 5.375% exercise price $19.39, expiration date 10/1/17	250	$	12,475
ArcelorMittal 6.00% exercise price $20.36, expiration date 12/21/15	475		10,190
Bank of America 7.25% exercise price $50.00, expiration date 12/31/49	10		11,465
#Chesapeake Energy 144A 5.75% exercise price $26.14, expiration date 12/31/49	15		16,678
Dominion Resources 6.125% exercise price $65.21, expiration date 4/1/16	293		16,426
Exelon 6.50% exercise price $43.75, expiration date 6/1/17	300		15,240
Halcon Resources 5.75% exercise price $6.16, expiration date 12/31/49	12		10,200
HealthSouth 6.50% exercise price $30.01, expiration date 12/31/49	17		22,625
Huntington Bancshares 8.50% exercise price $11.95, expiration date 12/31/49	14		18,480
Intelsat 5.75% exercise price $22.05, expiration date 5/1/16	595		28,251
Maiden Holdings 7.25% exercise price $15.47, expiration date 9/15/16	450		20,097
MetLife 5.00% exercise price $44.27, expiration date 10/8/14	475		14,625
SandRidge Energy 8.50% exercise price $8.01, expiration date 12/31/49	215		20,452
Wells Fargo 7.50% exercise price $156.71, expiration date 12/31/49	17		20,443

Total Convertible Preferred Stock (Cost $243,152)			237,647


EXCHANGE-TRADED FUNDS–7.88%
iShares MSCI EAFE Growth Index ETF	65,570		4,465,317
iShares MSCI EAFE Index ETF	15,330		982,960
Vanguard FTSE Developed Markets ETF	81,360		3,234,060

Total Exchange-Traded Funds (Cost $6,542,371)			8,682,337


	Number of Shares		Value (U.S. $)

PREFERRED STOCK–0.33%
Alabama Power 5.625%		1,650	$	40,557
#Ally Financial 144A 7.00%		200		201,187
•Integrys Energy Group 6.00%		1,900		48,716
National Retail Properties 5.70%		950		22,657
Public Storage 5.20%		1,000		22,580
•Regions Financial 6.375%		1,200		30,456

Total Preferred Stock (Cost $360,928)				366,153


	Principal Amount°

AGENCY ASSET-BACKED SECURITY–0.00%
•Fannie Mae REMIC Trust Series 2002-W11 AV1 0.495% 11/25/32		361		330

Total Agency Asset-Backed Security (Cost $361)				330

AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.40%
Fannie Mae REMIC Trust Series 2004-W11 1A2 6.50% 5/25/44		9,817		11,348
Fannie Mae REMICs
Series 1996-46 ZA 7.50% 11/25/26		4,451		5,052
Series 2003-26 AT 5.00% 11/25/32		14,841		15,403
Series 2010-41 PN 4.50% 4/25/40		40,000		42,943
•*Series 2012-122 SD 5.946% 11/25/42		89,503		19,879
*Series 2013-26 ID 3.00% 4/25/33		89,717		14,552
*Series 2013-38 AI 3.00% 4/25/33		86,986		13,985
*Series 2013-44 DI 3.00% 5/25/33		176,561		29,286
Series 2014-36 ZE 3.00% 6/25/44		32,321		27,004
Freddie Mac REMICs
Series 1730 Z 7.00% 5/15/24		3,425		3,889
Series 2326 ZQ 6.50% 6/15/31		15,501		17,563
Series 2557 WE 5.00% 1/15/18		9,343		9,818
Series 3656 PM 5.00% 4/15/40		70,000		76,986
Series 4065 DE 3.00% 6/15/32		5,000		4,810
*Series 4185 LI 3.00% 3/15/33		90,153		15,160
*Series 4191 CI 3.00% 4/15/33		91,030		15,116
¿Freddie Mac Structured Pass Through Securities Series T-58 2A 6.50% 9/25/43		12,190		13,807


	Principal Amount°		Value (U.S. $)

AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
GNMA Series 2010-113 KE 4.50% 9/20/40		95,000	$	102,547

Total Agency Collateralized Mortgage Obligations (Cost $427,587)				439,148


AGENCY MORTGAGE-BACKED SECURITIES–6.76%
Fannie Mae 6.50% 8/1/17		1,665		1,733
Fannie Mae ARM
•2.119% 3/1/38		3,064		3,266
•2.301% 4/1/36		2,620		2,793
•2.344% 11/1/35		1,677		1,798
•2.42% 5/1/43		24,375		24,236
•2.546% 6/1/43		8,980		8,986
•3.199% 4/1/44		41,311		42,578
•3.279% 3/1/44		34,796		36,089
•3.292% 9/1/43		30,500		31,458
•5.807% 8/1/37		5,314		5,676
Fannie Mae Relocation 30 yr 5.00% 11/1/34		1,301		1,422
Fannie Mae S.F. 15 yr
2.50% 10/1/27		26,925		27,240
2.50% 2/1/28		63,325		64,064
3.00% 11/1/27		5,960		6,159
3.00% 5/1/28		6,086		6,288
3.50% 7/1/26		19,259		20,297
4.00% 4/1/24		8,849		9,438
4.00% 5/1/25		14,520		15,495
4.00% 6/1/25		53,708		57,310
4.00% 11/1/25		67,570		72,156
4.00% 12/1/26		25,004		26,685
4.00% 5/1/27		51,479		54,927
4.00% 8/1/27		29,277		31,257
4.50% 4/1/18		2,570		2,715
5.00% 5/1/21		5,340		5,694
5.50% 4/1/23		6,038		6,603
Fannie Mae S.F. 15 yr TBA
2.50% 10/1/29		125,000		125,703
2.50% 11/1/29		110,000		110,357
3.00% 10/1/29		340,000		350,200
Fannie Mae S.F. 20 yr
3.00% 2/1/33		3,548		3,615
3.00% 8/1/33		12,061		12,247
3.50% 4/1/33		3,440		3,588
3.50% 9/1/33		16,961		17,689
4.00% 1/1/31		4,754		5,083
4.00% 2/1/31		18,385		19,653
5.00% 11/1/23		1,442		1,590
6.00% 9/1/29		14,113		15,954
Fannie Mae S.F. 30 yr
3.00% 7/1/42		23,034		22,768
3.00% 10/1/42		361,661		357,433
3.00% 12/1/42		59,786		59,080


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
3.00% 1/1/43		138,391	$	136,722
3.00% 2/1/43		13,754		13,588
3.00% 4/1/43		86,760		85,687
3.00% 5/1/43		59,045		58,305
4.00% 5/1/43		18,521		19,596
4.00% 8/1/43		10,214		10,806
4.00% 7/1/44		39,861		42,176
4.50% 7/1/36		6,882		7,430
4.50% 11/1/40		19,642		21,246
4.50% 3/1/41		30,675		33,176
4.50% 4/1/41		57,124		61,796
4.50% 10/1/41		6,038		6,532
5.00% 2/1/35		6,657		7,364
5.00% 7/1/35		10,542		11,654
5.00% 10/1/35		24,047		26,587
5.00% 11/1/35		7,604		8,411
5.00% 4/1/37		6,527		7,212
5.00% 8/1/37		19,058		21,070
5.00% 2/1/38		6,874		7,602
5.50% 12/1/32		1,321		1,482
5.50% 2/1/33		19,524		21,862
5.50% 11/1/34		7,319		8,210
5.50% 12/1/34		73,160		81,971
5.50% 3/1/35		4,601		5,152
5.50% 6/1/35		5,946		6,640
5.50% 1/1/36		4,272		4,787
5.50% 7/1/36		2,101		2,354
5.50% 1/1/37		319		358
5.50% 2/1/37		16,447		18,333
5.50% 4/1/37		24,984		28,254
5.50% 8/1/37		294		330
5.50% 1/1/38		365		406
5.50% 2/1/38		13,395		15,001
5.50% 3/1/38		15,584		17,481
5.50% 6/1/38		1,015		1,129
5.50% 9/1/38		41,527		46,483
5.50% 10/1/39		66,995		74,545
5.50% 7/1/40		19,823		22,057
5.50% 9/1/41		7,863		8,759
6.00% 6/1/36		2,481		2,814
6.00% 9/7/36		32,850		37,214
6.00% 12/1/36		2,978		3,388
6.00% 2/1/37		8,329		9,444
6.00% 5/1/37		22,220		25,087
6.00% 6/1/37		1,513		1,731
6.00% 7/1/37		1,581		1,793
6.00% 8/1/37		19,744		22,374
6.00% 9/1/37		3,125		3,543
6.00% 11/1/37		3,996		4,562
6.00% 5/1/38		37,552		42,476
6.00% 7/1/38		1,065		1,203
6.00% 9/1/38		7,419		8,386


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
6.00% 10/1/38		32,771	$	37,016
6.00% 11/1/38		6,867		7,807
6.00% 1/1/39		13,627		15,393
6.00% 9/1/39		115,742		130,843
6.00% 3/1/40		11,854		13,396
6.00% 7/1/40		48,137		54,428
6.00% 9/1/40		10,402		11,778
6.00% 11/1/40		4,528		5,182
6.00% 5/1/41		15,862		17,959
6.50% 2/1/36		7,754		9,003
7.50% 6/1/31		6,027		7,261
Fannie Mae S.F. 30 yr TBA
3.00% 11/1/44		853,000		838,506
3.50% 11/1/44		269,000		274,149
4.00% 10/1/44		333,000		350,920
4.00% 11/1/44		1,026,000		1,078,005
4.50% 11/1/44		1,230,000		1,323,643
5.00% 11/1/44		45,000		49,546
Freddie Mac ARM
•2.265% 10/1/36		3,790		4,039
•2.249% 7/1/36		2,688		2,884
•2.338% 4/1/34		1,129		1,201
•2.526% 1/1/44		75,709		77,187
Freddie Mac S.F. 15 yr
3.50% 10/1/26		7,133		7,516
4.00% 5/1/25		4,561		4,869
4.50% 8/1/24		23,733		25,457
4.50% 7/1/25		4,494		4,813
4.50% 6/1/26		10,394		11,101
5.00% 6/1/18		1,850		1,954
Freddie Mac S.F. 20 yr
3.00% 6/1/34		14,873		15,073
3.50% 1/1/34		33,222		34,549
Freddie Mac S.F. 30 yr
3.00% 10/1/42		26,259		26,052
3.00% 11/1/42		21,161		21,060
4.50% 6/1/39		4,423		4,772
4.50% 10/1/39		10,601		11,438
5.50% 3/1/34		2,827		3,168
5.50% 12/1/34		2,896		3,256
5.50% 6/1/36		1,939		2,164
5.50% 11/1/36		4,090		4,560
5.50% 12/1/36		1,014		1,129
5.50% 6/1/38		2,350		2,617
5.50% 3/1/40		10,048		11,192
5.50% 8/1/40		23,257		25,879
5.50% 1/1/41		10,411		11,588
5.50% 6/1/41		10,723		11,934
6.00% 2/1/36		6,283		7,154
6.00% 1/1/38		4,291		4,833
6.00% 6/1/38		11,329		12,773


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac S.F. 30 yr (continued)
6.00% 8/1/38		33,972	$	38,813
6.00% 5/1/40		4,815		5,430
6.50% 4/1/39		18,510		20,930
7.00% 11/1/33		2,646		3,072
GNMA I S.F. 30 yr
5.00% 6/15/40		6,236		6,864
7.50% 1/15/32		1,664		2,010

Total Agency Mortgage-Backed Securities (Cost $7,393,288)				7,446,058


AGENCY OBLIGATIONS–0.08%
Fannie Mae 2.625% 9/6/24		40,000		39,432
Tennessee Valley Authority 2.875% 9/15/24		50,000		49,731

Total Agency Obligations (Cost $89,105)				89,163


COMMERCIAL MORTGAGE-BACKED SECURITIES–1.47%
Banc of America Commercial Mortgage Trust
Series 2006-4 A4 5.634% 7/10/46		9,338		9,875
•Series 2007-4 AM 6.015% 2/10/51		40,000		44,048
CD Commercial Mortgage Trust
•Series 2005-CD1 AM 5.40% 7/15/44		20,000		20,741
•Series 2005-CD1 C 5.40% 7/15/44		25,000		25,698
Citigroup Commercial Mortgage Trust Series 2014-GC23 AS 3.863% 7/10/47		20,000		20,353
¿Commercial Mortgage Pass Through Certificates Series 2014-LC17 A5 3.917% 10/10/47		45,000		46,779
Commercial Mortgage Trust Series 2014-CR19 A5 3.796% 8/10/47		25,000		25,543
•Credit Suisse Mortgage Capital Certificates Series 2006-C1 AAB 5.642% 2/15/39		2,326		2,343
#•DB-UBS Mortgage Trust Series 2011-LC1A C 144A 5.73% 11/10/46		100,000		111,474
FREMF Mortgage Trust
#•Series 2011-K702 B 144A 4.936% 4/25/44		10,000		10,637
#•Series 2012-K19 B 144A 4.176% 5/25/45		10,000		10,259
#•Series 2012-K708 B 144A 3.891% 2/25/45		90,000		92,566


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
FREMF Mortgage Trust (continued)
#•Series 2013-K33 B 144A 3.619% 8/25/46		25,000	$	24,393
#•Series 2013-K712 144A 3.484% 5/25/45		115,000		115,112
#•Series 2013-K713 144A 3.274% 4/25/46		65,000		64,228
#•Series 2014-K716 B 144A 3.954% 8/25/47		20,000		20,301
Goldman Sachs Mortgage Securities II
Series 2005-GG4 A4A 4.751% 7/10/39		18,704		18,848
•Series 2006-GG6 A4 5.553% 4/10/38		20,000		20,840
#Series 2010-C1 A2 144A 4.592% 8/10/43		150,000		163,861
#Grace Mortgage Trust Series 2014-GRCE A 144A 3.369% 6/10/28		100,000		102,522
#Hilton USA Trust Series 2013-HLT BFX 144A 3.367% 11/5/30		200,000		203,212
JPMBB Commercial Mortgage Securities Trust
Series 2014-C18 A1 1.254% 2/15/47		27,371		27,222
Series 2014-C21 AS 3.997% 8/15/47		15,000		15,292
Series 2014-C22 A4 3.801% 9/15/47		55,000		56,428
•Series 2014-C22 B 4.714% 9/15/47		35,000		36,343
JPMorgan Chase Commercial Mortgage Securities
•Series 2005-CB11 E 5.647% 8/12/37		10,000		10,691
•Series 2005-LDP5 D 5.559% 12/15/44		20,000		20,633
Series 2006-LDP8 AM 5.44% 5/15/45		79,000		84,636
Lehman Brothers-UBS Commercial Mortgage Trust
Series 2004-C1 A4 4.568% 1/15/31		3,432		3,524
•Series 2005-C3 B 4.895% 7/15/40		15,000		15,233
•Series 2006-C6 AJ 5.452% 9/15/39		30,000		31,707
Series 2006-C6 AM 5.413% 9/15/39		15,000		16,133
Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C18 A4 3.923% 10/15/47		30,000		31,050


	Principal Amount°		Value (U.S. $)
COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Morgan Stanley Capital I Trust
•Series 2005-HQ7 AJ 5.38% 11/14/42		50,000	$	51,599
•Series 2006-T21 AM 5.204% 10/12/52		30,000		31,354
WF-RBS Commercial Mortgage Trust Series 2014-C23 A5 3.917% 10/15/57		30,000		30,899

Total Commercial Mortgage-Backed Securities (Cost $1,619,701)				1,616,377


CONVERTIBLE BONDS–0.61%
Alaska Communications Systems Group 6.25% exercise price $10.28, expiration date 4/27/18		29,000		23,490
Ares Capital 5.75% exercise price $19.13, expiration date 2/1/16		8,000		8,370
BGC Partners 4.50% exercise price $9.84, expiration date 7/13/16		21,000		22,207
BioMarin Pharmaceutical 1.50% exercise price $94.15, expiration date 10/13/20		15,000		16,500
Blackstone Mortgage Trust 5.25% exercise price $28.66, expiration date 12/1/18		25,000		26,250
#Campus Crest Communities Operating Partnership 144A 4.75% exercise price $12.56, expiration date 10/11/18		14,000		13,335
#Cardtronics 144A 1.00% exercise price $52.35, expiration date 11/27/20		24,000		23,070
Chesapeake Energy 2.25% exercise price $80.36, expiration date 12/14/38		15,000		14,391
#Ciena 144A 3.75% exercise price $20.17, expiration date 10/15/18		14,000		16,380
#Energy XXI Bermuda 144A 3.00% exercise price $40.40, expiration date 12/13/18		25,000		20,531
Equinix 4.75% exercise price $84.32, expiration date 6/13/16		3,000		7,733
fGeneral Cable 4.50% exercise price $35.33, expiration date 11/15/29		28,000		19,565
Gilead Sciences 1.625% exercise price $22.71, expiration date 5/1/16		7,000		32,699


	Principal Amount°		Value (U.S. $)
CONVERTIBLE BONDS (continued)
Illumina 0.25% exercise price $83.55, expiration date 3/11/16		6,000	$	11,933
Intel 3.25% exercise price $21.71, expiration date 8/1/39		9,000		15,109
j2 Global 3.25% exercise price $69.37, expiration date 6/14/29		22,000		22,041
Jefferies Group 3.875% exercise price $45.19, expiration date 10/31/29		14,000		14,857
#Lexington Realty Trust 144A 6.00% exercise price $6.68, expiration date 1/11/30		7,000		10,115
Liberty Interactive 0.75% exercise price $1,000.00, expiration date 3/30/43		25,000		33,234
#Liberty Interactive 144A 1.00% exercise price $74.31, expiration date 9/28/43		21,000		21,604
fMeritor 4.00% exercise price $26.73, expiration date 2/12/27		28,000		28,875
MGM Resorts International 4.25% exercise price $18.58, expiration date 4/10/15		12,000		15,143
Mylan 3.75% exercise price $13.32, expiration date 9/15/15		6,000		20,527
Novellus Systems 2.625% exercise price $35.02, expiration date 5/14/41		13,000		28,397
NuVasive 2.75% exercise price $42.13, expiration date 6/30/17		28,000		31,220
Peabody Energy 4.75% exercise price $57.62, expiration date 12/15/41		18,000		12,420
RTI International Metals 1.625% exercise price $40.72, expiration date 10/10/19		15,000		14,419
SanDisk 1.50% exercise price $51.53, expiration date 8/11/17		12,000		23,137
SBA Communications 4.00% exercise price $30.38, expiration date 9/29/14		6,000		21,791
Spirit Realty Capital 3.75% exercise price $13.10, expiration date 5/13/21		15,000		14,588
Titan Machinery 3.75% exercise price $43.17, expiration date 4/30/19		16,000		12,310


	Principal Amount°		Value (U.S. $)

CONVERTIBLE BONDS (continued)
#TPG Specialty Lending 144A 4.50% exercise price $25.83, expiration date 12/15/19		17,000	$	16,522
#Vantage Drilling 144A 5.50% exercise price $2.39, expiration date 7/15/43		25,000		24,484
Vector Group 1.75% exercise price $25.87, expiration date 4/15/20		15,000		16,856
•Vector Group 2.50% exercise price $16.78, expiration date 1/14/19		7,000		10,171
VeriSign 4.086% exercise price $34.37, expiration date 8/15/37		8,000		13,485

Total Convertible Bonds (Cost $577,492)				677,759


CORPORATE BONDS–19.76%
Aerospace & Defense–0.04%
TransDigm
#144A 6.00% 7/15/22		30,000		29,663
#144A 6.50% 7/15/24		20,000		19,950


				49,613

Air Freight & Logistics–0.04%
#Aviation Capital Group 144A 6.75% 4/6/21		35,000		39,900


				39,900

Airlines–0.07%
¿American Airlines 2014-1 Class A Pass Through Trust 3.70% 10/1/26		20,000		20,075
¿United Airlines 2014-1 Class A Pass Through Trust 4.00% 4/11/26		15,000		15,075
¿United Airlines 2014-2 Class A Pass Through Trust 3.75% 9/3/26		45,000		45,563


				80,713

Auto Components–0.30%
American Axle & Manufacturing 6.25% 3/15/21		25,000		26,125
Delphi
4.15% 3/15/24		55,000		56,214
5.00% 2/15/23		20,000		21,470
6.125% 5/15/21		50,000		55,000
Magna International 3.625% 6/15/24		65,000		64,720
TRW Automotive #144A 4.45% 12/1/23		80,000		81,000


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Auto Components (continued)
TRW Automotive (continued)
#144A 4.50% 3/1/21		25,000	$	25,375


				329,904

Automobiles–0.24%
Daimler 2.75% 12/10/18	NOK	200,000		32,321
Ford Motor 7.45% 7/16/31		45,000		59,571
General Motors
3.50% 10/2/18		40,000		40,850
6.25% 10/2/43		25,000		29,375
#Hyundai Capital America 144A 2.55% 2/6/19		45,000		45,400
Toyota Finance Australia
2.25% 8/31/16	NOK	30,000		4,713
3.04% 12/20/16	NZD	60,000		45,194
Volkswagen Financial Services 2.25% 5/15/17	NOK	30,000		4,705


				262,129

Beverages–0.16%
#Pernod-Ricard 144A 5.75% 4/7/21		150,000		171,065


				171,065

Biotechnology–0.28%
Amgen 3.625% 5/22/24		40,000		39,716
Celgene
3.95% 10/15/20		150,000		159,117
4.625% 5/15/44		15,000		14,775
Gilead Sciences 3.70% 4/1/24		65,000		66,523
Immucor 11.125% 8/15/19		30,000		32,550


				312,681

Building Products–0.03%
Nortek 8.50% 4/15/21		35,000		37,800


				37,800

Capital Markets–0.28%
Jefferies Group
5.125% 1/20/23		20,000		21,294
6.45% 6/8/27		30,000		33,763
6.50% 1/20/43		10,000		11,087
Lazard Group
4.25% 11/14/20		10,000		10,468
6.85% 6/15/17		105,000		118,379
#Nuveen Investments 144A 9.50% 10/15/20		25,000		29,125
State Street 3.10% 5/15/23		90,000		87,452


				311,568

Chemicals–0.69%
Celanese US Holdings 4.625% 11/15/22		40,000		39,400


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Chemicals (continued)
CF Industries
5.15% 3/15/34		20,000	$	21,141
5.375% 3/15/44		50,000		52,522
6.875% 5/1/18		105,000		121,705
7.125% 5/1/20		30,000		36,234
Dow Chemical
3.50% 10/1/24		30,000		29,323
4.25% 10/1/34		70,000		67,623
Eastman Chemical 4.65% 10/15/44		15,000		14,347
Monsanto 4.40% 7/15/44		190,000		189,073
Mosaic 5.625% 11/15/43		125,000		140,036
PolyOne 5.25% 3/15/23		15,000		14,625
Rockwood Specialties Group 4.625% 10/15/20		20,000		20,725
#TPC Group 144A 8.75% 12/15/20		15,000		16,013


				762,767

Commercial Banks–1.48%
Abbey National Treasury Services 2.35% 9/10/19		160,000		158,136
Australia & New Zealand Banking Group
2.625% 12/10/18	CAD	50,000		45,377
•3.517% 11/6/18	AUD	24,000		21,240
#•Banco Santander Mexico Institucion de Banca Multiple Grupo Financiero Santand 144A 5.95% 1/30/24		200,000		211,500
BB&T 5.25% 11/1/19		122,000		137,064
#•BBVA Banco Continental 144A 5.25% 9/22/29		20,000		20,148
#BBVA Bancomer 144A 6.50% 3/10/21		150,000		164,250
City National 5.25% 9/15/20		40,000		44,545
Cooperatieve Centrale Raiffeisen-Boerenleenbank
2.50% 9/4/20	NOK	110,000		17,175
4.875% 1/20/20	AUD	20,000		18,115
Northern Trust 3.95% 10/30/25		35,000		36,312
PNC Funding 5.625% 2/1/17		38,000		41,448
#•PNC Preferred Funding Trust II 144A 1.457% 3/31/49		100,000		97,125
Santander Holdings USA 3.45% 8/27/18		40,000		41,742
SVB Financial Group 5.375% 9/15/20		105,000		117,760
US Bancorp 3.60% 9/11/24		80,000		79,222
•USB Capital IX 3.50% 10/29/49		140,000		119,700
Wells Fargo
4.10% 6/3/26		175,000		174,625
•5.90% 12/29/49		30,000		30,637


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
Zions Bancorp 4.50% 6/13/23		55,000	$	57,689


				1,633,810

Commercial Services & Supplies–0.50%
#Algeco Scotsman Global Finance 144A 10.75% 10/15/19		200,000		193,000
Avis Budget Car Rental 5.50% 4/1/23		38,000		37,905
#Brambles USA 144A 3.95% 4/1/15		20,000		20,314
HD Supply
7.50% 7/15/20		10,000		10,425
11.50% 7/15/20		30,000		34,687
#Prestige Brands 144A 5.375% 12/15/21		50,000		47,250
Reynolds Group Issuer 8.25% 2/15/21		100,000		106,250
#Service Corp International 144A 5.375% 5/15/24		40,000		40,300
Spectrum Brands 6.375% 11/15/20		20,000		20,950
United Rentals North America 5.75% 11/15/24		45,000		45,675


				556,756

Computers & Peripherals–0.13%
NetApp 3.25% 12/15/22		65,000		63,518
#Seagate HDD Cayman 144A 4.75% 1/1/25		75,000		75,000


				138,518

Construction & Engineering–0.01%
URS 3.85% 4/1/17		10,000		10,327


				10,327

Consumer Finance–0.08%
General Motors Financial 4.375% 9/25/21		30,000		30,713
SunTrust Banks 2.35% 11/1/18		60,000		60,202


				90,915

Containers & Packaging–0.31%
Ball 4.00% 11/15/23		60,000		56,100
Berry Plastics 5.50% 5/15/22		20,000		19,275
#BWAY Holding 144A 9.125% 8/15/21		45,000		45,450
#Consolidated Container 144A 10.125% 7/15/20		10,000		9,450
International Paper 3.65% 6/15/24		45,000		43,750
#Plastipak Holdings 144A 6.50% 10/1/21		25,000		25,500


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Containers & Packaging (continued)
Rock Tenn
3.50% 3/1/20		50,000	$	50,897
4.00% 3/1/23		90,000		91,521


				341,943

Diversified Consumer Services–0.13%
#Red de Carreteras de Occidente 144A 9.00% 6/10/28	MXN	2,000,000		143,364


				143,364

Diversified Financial Services–1.43%
Bank of America
4.20% 8/26/24		160,000		158,807
•6.25% 9/29/49		100,000		99,844
#Comcel Trust 144A 6.875% 2/6/24		200,000		211,500
#ERAC USA Finance 144A 3.30% 10/15/22		95,000		94,318
General Electric Capital
2.10% 12/11/19		35,000		34,834
3.45% 5/15/24		200,000		200,831
4.25% 1/17/18	NZD	40,000		30,922
6.00% 8/7/19		75,000		87,564
•7.125% 12/15/49		100,000		115,925
JPMorgan Chase
•0.865% 1/28/19		25,000		25,207
3.875% 9/10/24		55,000		53,985
•6.75% 8/29/49		95,000		100,273
Morgan Stanley
•1.083% 1/24/19		26,000		26,325
4.35% 9/8/26		170,000		167,464
5.00% 9/30/21	AUD	25,000		22,009
•National Rural Utilities Cooperative Finance 4.75% 4/30/43		50,000		49,563
#SUAM Finance 144A 4.875% 4/17/24		100,000		102,000


				1,581,371

Diversified Telecommunication Services–0.98%
AT&T 4.80% 6/15/44		145,000		143,423
Bell Canada 3.35% 3/22/23	CAD	18,000		15,885
CenturyLink
5.80% 3/15/22		105,000		108,150
6.75% 12/1/23		30,000		32,287
Hughes Satellite Systems
7.625% 6/15/21		10,000		10,950
Intelsat Luxembourg
8.125% 6/1/23		100,000		104,750
#Level 3 Escrow II 144A
5.375% 8/15/22		40,000		39,500
Motorola Solutions
4.00% 9/1/24		60,000		58,686


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Telecommunication Services (continued)
#SBA Tower Trust 144A 2.24% 4/15/18		35,000	$	34,557
#SES 144A 3.60% 4/4/23		95,000		96,001
Telefonica Emisiones 6.421% 6/20/16		10,000		10,873
Telefonica Emisiones SAU 4.57% 4/27/23		150,000		156,891
Verizon Communications #144A 4.862% 8/21/46		149,000		149,784
5.15% 9/15/23		55,000		60,949
6.55% 9/15/43		22,000		27,527
Windstream
7.50% 4/1/23		5,000		5,150
7.75% 10/1/21		20,000		21,400


				1,076,763

Electric Utilities–1.47%
#•AES Gener 144A 8.375% 12/18/73		200,000		226,000
#American Transmission Systems 144A 5.25% 1/15/22		75,000		83,203
Berkshire Hathaway Energy 3.75% 11/15/23		145,000		149,028
Cleveland Electric Illuminating 5.50% 8/15/24		35,000		40,377
ComEd Financing III 6.35% 3/15/33		50,000		51,625
#•Electricite de France 144A 5.25% 12/29/49		100,000		101,875
Entergy Arkansas 3.70% 6/1/24		20,000		20,602
Entergy Louisiana 4.05% 9/1/23		90,000		96,301
Great Plains Energy
4.85% 6/1/21		45,000		49,640
5.292% 6/15/22		35,000		39,876
Indiana Michigan Power 3.20% 3/15/23		55,000		54,867
IPALCO Enterprises 5.00% 5/1/18		35,000		37,056
ITC Holdings 3.65% 6/15/24		60,000		59,935
LG&E & KU Energy
3.75% 11/15/20		70,000		72,821
4.375% 10/1/21		130,000		140,073
#Metropolitan Edison 144A 4.00% 4/15/25		35,000		35,087
NextEra Energy Capital Holdings
2.40% 9/15/19		55,000		54,712
3.625% 6/15/23		25,000		25,358
NV Energy 6.25% 11/15/20		85,000		100,092
Pennsylvania Electric 5.20% 4/1/20		75,000		82,977
Public Service of New Hampshire 3.50% 11/1/23		30,000		31,008


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Electric Utilities (continued)
Public Service of Oklahoma 5.15% 12/1/19		60,000	$	67,019


				1,619,532

Electronic Equipment, Instruments & Components–0.15%
Thermo Fisher Scientific
2.40% 2/1/19		50,000		50,129
4.15% 2/1/24		110,000		114,110


				164,239

Energy Equipment & Services–0.22%
Bristow Group 6.25% 10/15/22		40,000		41,650
#Drill Rigs Holdings 144A 6.50% 10/1/17		70,000		70,000
Ensco 4.50% 10/1/24		55,000		55,295
Exterran Partners 6.00% 4/1/21		10,000		9,775
Hercules Offshore
#144A 6.75% 4/1/22		10,000		7,837
#144A 8.75% 7/15/21		10,000		8,750
Key Energy Services 6.75% 3/1/21		50,000		48,375


				241,682

Food Products–0.11%
Smithfield Foods 6.625% 8/15/22		20,000		21,200
Sysco
3.50% 10/2/24		40,000		40,192
4.35% 10/2/34		55,000		55,983


				117,375

Gas Utilities–0.07%
AmeriGas Finance 7.00% 5/20/22		75,000		78,937


				78,937

Health Care Equipment & Supplies–0.37%
Boston Scientific
2.65% 10/1/18		30,000		30,322
6.00% 1/15/20		65,000		74,193
CareFusion 6.375% 8/1/19		70,000		80,830
#Crimson Merger 144A 6.625% 5/15/22		40,000		36,500
Kinetic Concepts 10.50% 11/1/18		30,000		32,700
Zimmer Holdings
3.375% 11/30/21		70,000		71,308
4.625% 11/30/19		80,000		87,383


				413,236

Health Care Providers & Services–0.42%
#Community Health Systems 144A 6.875% 2/1/22		20,000		20,900


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Health Care Providers & Services (continued)
DaVita Healthcare Partners 5.125% 7/15/24		45,000	$	44,297
#Fresenius Medical Care US Finance II 144A 5.875% 1/31/22		20,000		21,300
HCA 5.00% 3/15/24		80,000		78,900
Highmark
#144A 4.75% 5/15/21		40,000		40,662
#144A 6.125% 5/15/41		15,000		15,188
McKesson 3.796% 3/15/24		135,000		136,396
#Milacron 144A 7.75% 2/15/21		20,000		21,150
Quest Diagnostics 2.70% 4/1/19		25,000		25,151
Tenet Healthcare 6.00% 10/1/20		53,000		56,180


				460,124

Hotels, Restaurants & Leisure–0.31%
#Caesars Growth Properties Holdings 144A 9.375% 5/1/22		25,000		21,969
International Game Technology 5.35% 10/15/23		65,000		66,963
#Landry’s 144A 9.375% 5/1/20		45,000		47,813
Marriott International 3.375% 10/15/20		40,000		41,099
MGM Resorts International 11.375% 3/1/18		10,000		12,000
#PF Chang’s China Bistro 144A 10.25% 6/30/20		10,000		9,975
Starwood Hotels & Resorts Worldwide
3.75% 3/15/25		35,000		34,559
4.50% 10/1/34		20,000		19,512
Wyndham Worldwide
4.25% 3/1/22		30,000		30,421
5.625% 3/1/21		45,000		50,030
Wynn Las Vegas 5.375% 3/15/22		10,000		10,225


				344,566

Independent Power Producers & Energy Traders–0.15%
AES 5.50% 3/15/24		45,000		43,987
Calpine 5.375% 1/15/23		20,000		19,375
Exelon Generation 4.25% 6/15/22		85,000		87,742
#NRG Energy 144A 6.25% 5/1/24		15,000		15,113


				166,217

Industrial Conglomerates–0.04%
#Gates Global 144A 6.00% 7/15/22		45,000		42,525


				42,525

Insurance–0.80%
•Allstate 5.75% 8/15/53		45,000		48,009
•American International Group 8.175% 5/15/58		95,000		128,487


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Insurance (continued)
Berkshire Hathaway Finance 2.90% 10/15/20		50,000	$	50,894
•Chubb 6.375% 3/29/67		70,000		77,087
#Hockey Merger 144A 7.875% 10/1/21		30,000		30,863
•ING US 5.65% 5/15/53		30,000		30,300
Liberty Mutual Group
#144A 4.25% 6/15/23		40,000		40,955
#144A 4.95% 5/1/22		15,000		16,175
MetLife
3.60% 4/10/24		50,000		50,633
6.40% 12/15/36		50,000		56,000
6.817% 8/15/18		130,000		152,587
#Onex USI Acquisition 144A 7.75% 1/15/21		5,000		5,000
Prudential Financial
3.50% 5/15/24		30,000		29,750
4.50% 11/15/20		20,000		21,696
•5.875% 9/15/42		40,000		42,600
Teachers Insurance & Annuity Association of America
#•144A 4.375% 9/15/54		20,000		20,196
#144A 4.90% 9/15/44		40,000		40,926
•XL Group 6.50% 12/31/49		40,000		38,800


				880,958

Internet & Catalog Retail–0.05%
Expedia 4.50% 8/15/24		30,000		29,792
#Netflix 144A 5.75% 3/1/24		20,000		20,700


				50,492

Internet Software & Services–0.26%
Baidu 3.25% 8/6/18		200,000		206,289
Equinix
4.875% 4/1/20		12,000		11,940
5.375% 4/1/23		43,000		42,785
Zayo Group 10.125% 7/1/20		20,000		22,625


				283,639

IT Services–0.19%
First Data
11.25% 1/15/21		43,000		49,074
11.75% 8/15/21		17,000		19,763
NCR 6.375% 12/15/23		40,000		42,100
Xerox 6.35% 5/15/18		85,000		97,203


				208,140

Machinery–0.26%
Crane
2.75% 12/15/18		10,000		10,188
4.45% 12/15/23		55,000		57,764
Ingersoll-Rand Global Holding 4.25% 6/15/23		140,000		147,083
LSB Industries 7.75% 8/1/19		10,000		10,650


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Machinery (continued)
Meritor 6.75% 6/15/21		15,000	$	15,675
Trinity Industries 4.55% 10/1/24		45,000		45,169


				286,529

Media–1.37%
CC Holdings GS V 3.849% 4/15/23		15,000		14,781
CCO Holdings 5.25% 9/30/22		15,000		14,737
#Columbus International 144A 7.375% 3/30/21		200,000		208,750
Comcast
3.375% 2/15/25		180,000		177,932
4.20% 8/15/34		30,000		29,842
4.75% 3/1/44		15,000		15,889
#CSC Holdings 144A 5.25% 6/1/24		50,000		48,125
DIRECTV Holdings
4.45% 4/1/24		125,000		130,434
5.15% 3/15/42		10,000		10,149
DISH DBS 5.00% 3/15/23		55,000		52,903
Gray Television 7.50% 10/1/20		30,000		30,825
Historic TW 6.875% 6/15/18		160,000		187,036
‡iHeartMedia PIK 14.00% 2/1/21		5,050		4,633
Interpublic Group 2.25% 11/15/17		25,000		25,117
Lamar Media 5.00% 5/1/23		25,000		24,187
#MDC Partners 144A 6.75% 4/1/20		25,000		25,875
#Nielsen Luxembourg 144A 5.50% 10/1/21		20,000		20,200
#SES Global Americas Holdings 144A 5.30% 3/25/44		65,000		68,935
Sinclair Television Group
5.375% 4/1/21		20,000		19,800
6.125% 10/1/22		10,000		10,225
Time Warner 3.55% 6/1/24		10,000		9,876
Time Warner Cable
4.00% 9/1/21		30,000		31,614
8.25% 4/1/19		100,000		124,668
#Univision Communications 144A 5.125% 5/15/23		40,000		40,700
Viacom 5.25% 4/1/44		130,000		134,862
WPP Finance 2010 5.625% 11/15/43		40,000		43,621


				1,505,716

Metals & Mining–0.37%
ArcelorMittal 10.35% 6/1/19		65,000		79,544
#FMG Resources August 2006 144A 6.875% 4/1/22		122,000		124,593
#Gerdau Holdings 144A 7.00% 1/20/20		100,000		113,000


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Metals & Mining (continued)
Novelis 8.75% 12/15/20		30,000	$	32,213
Ryerson
9.00% 10/15/17		15,000		15,863
11.25% 10/15/18		3,000		3,315
#Yamana Gold 144A 4.95% 7/15/24		35,000		34,908


				403,436

Multiline Retail–0.02%
Target 2.30% 6/26/19		25,000		25,065


				25,065

Multi-Utilities–0.45%
Ameren Illinois 9.75% 11/15/18		170,000		219,989
American Water Capital 3.40% 3/1/25		40,000		39,919
•Integrys Energy Group 6.11% 12/1/66		60,000		61,219
NiSource Finance 6.125% 3/1/22		40,000		46,907
SCANA 4.125% 2/1/22		55,000		56,833
•Wisconsin Energy 6.25% 5/15/67		70,000		72,494


				497,361

Oil, Gas & Consumable Fuels–2.93%
Anadarko Petroleum 3.45% 7/15/24		40,000		39,368
California Resources
#144A 5.50% 9/15/21		25,000		25,406
#144A 6.00% 11/15/24		25,000		25,750
Chaparral Energy 7.625% 11/15/22		5,000		5,150
Chesapeake Energy 5.75% 3/15/23		10,000		10,700
Cimarex Energy 4.375% 6/1/24		30,000		30,300
CNOOC Nexen Finance 2014 4.25% 4/30/24		200,000		203,099
Continental Resources 4.50% 4/15/23		120,000		124,518
El Paso Pipeline Partners Operating 4.30% 5/1/24		120,000		119,814
•Enbridge Energy Partners
8.05% 10/1/37		95,000		107,350
Energy Transfer Partners
5.95% 10/1/43		130,000		139,860
9.70% 3/15/19		48,000		61,480
#Energy XXI Gulf Coast 144A 6.875% 3/15/24		35,000		32,987
EnLink Midstream Partners 4.40% 4/1/24		90,000		93,590
•Enterprise Products Operating 7.034% 1/15/68		110,000		124,392


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Halcon Resources 8.875% 5/15/21		25,000	$	24,750
#Hercules Offshore 144A 7.50% 10/1/21		5,000		4,050
Kinder Morgan Energy Partners 9.00% 2/1/19		95,000		118,476
Laredo Petroleum 7.375% 5/1/22		40,000		42,200
Marathon Petroleum 4.75% 9/15/44		145,000		139,739
Midstates Petroleum 9.25% 6/1/21		55,000		54,725
Murphy Oil USA 6.00% 8/15/23		50,000		52,375
Newfield Exploration 5.625% 7/1/24		40,000		43,000
Northern Oil and Gas 8.00% 6/1/20		15,000		15,300
Oasis Petroleum 6.875% 3/15/22		45,000		47,700
#Pacific Rubiales Energy 144A 7.25% 12/12/21		100,000		109,250
PDC Energy 7.75% 10/15/22		10,000		10,750
Petrobras Global Finance 4.875% 3/17/20		75,000		76,178
Petrobras International Finance 5.375% 1/27/21		41,000		41,649
Petroleos de Venezuela 9.00% 11/17/21		30,000		20,175
Petroleos Mexicanos
6.00% 3/5/20		100,000		114,250
6.50% 6/2/41		20,000		23,234
Plains All American Pipeline 8.75% 5/1/19		95,000		120,417
Plains Exploration & Production 6.50% 11/15/20		23,000		25,245
Pride International 6.875% 8/15/20		125,000		147,553
Regency Energy Partners 5.50% 4/15/23		40,000		40,700
Samson Investment 9.75% 2/15/20		45,000		41,063
SandRidge Energy 8.125% 10/15/22		70,000		70,263
Statoil 2.90% 11/8/20		35,000		35,741
Sunoco Logistics Partners Operations 3.45% 1/15/23		140,000		136,028
Talisman Energy
3.75% 2/1/21		40,000		40,487
5.50% 5/15/42		105,000		107,265
•TransCanada PipeLines 6.35% 5/15/67		115,000		119,025
Williams 4.55% 6/24/24		35,000		34,692
Williams Partners 7.25% 2/1/17		85,000		95,774


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
#Woodside Finance 144A 8.75% 3/1/19		85,000	$	106,324
#YPF 144A 8.75% 4/4/24		25,000		25,563


				3,227,705

Paper & Forest Products–0.23%
Fibria Overseas Finance 5.25% 5/12/24		35,000		34,606
Georgia-Pacific 8.00% 1/15/24		110,000		147,559
International Paper 6.00% 11/15/41		60,000		68,491


				250,656

Pharmaceuticals–0.25%
Express Scripts Holding
2.25% 6/15/19		35,000		34,548
3.50% 6/15/24		80,000		78,492
#Forest Laboratories 144A 4.375% 2/1/19		45,000		47,412
Par Pharmaceutical 7.375% 10/15/20		40,000		41,900
#Salix Pharmaceuticals 144A 6.00% 1/15/21		40,000		43,400
#Valeant Pharmaceuticals International 144A 5.625% 12/1/21		10,000		9,987
#Valeant Pharmaceuticals International Escrow 144A 6.375% 10/15/20		15,000		15,469


				271,208

Real Estate Investment Trusts–0.81%
Alexandria Real Estate Equities
3.90% 6/15/23		10,000		9,983
4.50% 7/30/29		25,000		25,071
4.60% 4/1/22		80,000		84,112
American Tower Trust I
#144A 1.551% 3/15/43		20,000		19,692
#144A 3.07% 3/15/23		50,000		49,236
Brandywine Operating Partnership 4.10% 10/1/24		10,000		9,900
CBL & Associates 5.25% 12/1/23		35,000		37,647
Corporate Office Properties
3.60% 5/15/23		35,000		33,536
5.25% 2/15/24		45,000		48,046
DDR
4.75% 4/15/18		40,000		43,187
7.50% 4/1/17		20,000		22,761
7.875% 9/1/20		70,000		87,089
Excel Trust 4.625% 5/15/24		25,000		25,461
Geo Group 5.875% 10/15/24		25,000		25,187


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Real Estate Investment Trusts (continued)
Healthcare Trust of America Holdings 3.375% 7/15/21		20,000	$	19,929
Hospitality Properties Trust 4.50% 3/15/25		45,000		44,545
Host Hotels & Resorts
3.75% 10/15/23		60,000		59,442
4.75% 3/1/23		80,000		85,044
Regency Centers
4.80% 4/15/21		50,000		54,520
5.875% 6/15/17		15,000		16,633
Weyerhaeuser 4.625% 9/15/23		85,000		90,192


				891,213

Real Estate Management & Development–0.03%
WP Carey 4.60% 4/1/24		35,000		36,247


				36,247

Road & Rail–0.09%
Burlington Northern Santa Fe 3.40% 9/1/24		85,000		83,990
Norfolk Southern 3.85% 1/15/24		15,000		15,541


				99,531

Semiconductors & Semiconductor Equipment–0.01%
Broadcom 4.50% 8/1/34		10,000		10,235


				10,235

Software–0.25%
#Activision Blizzard 144A 6.125% 9/15/23		40,000		42,600
#BMC Software Finance 144A 8.125% 7/15/21		25,000		24,125
#MTS International Funding 144A 8.625% 6/22/20		100,000		106,500
Oracle
3.40% 7/8/24		70,000		69,866
4.50% 7/8/44		30,000		30,444


				273,535

Specialty Retail–0.36%
Bed Bath & Beyond
4.915% 8/1/34		45,000		44,859
5.165% 8/1/44		40,000		39,254
#~Chinos Intermediate Holdings 144A PIK 7.75% 5/1/19		35,000		33,250
QVC
4.375% 3/15/23		85,000		84,952
#144A 5.45% 8/15/34		50,000		49,257
Sally Holdings 5.75% 6/1/22		20,000		20,500
Signet UK Finance 4.70% 6/15/24		125,000		125,930


				398,002


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Textiles, Apparel & Luxury Goods–0.03%
Levi Strauss 6.875% 5/1/22		35,000	$	36,750


				36,750

Transportation Infrastructure–0.16%
AP Moeller-Maersk
#144A 2.55% 9/22/19		25,000		25,090
#144A 3.75% 9/22/24		35,000		35,165
#DP World 144A 6.85% 7/2/37		100,000		112,630


				172,885

Wireless Telecommunication Services–0.35%
#Crown Castle Towers 144A 4.883% 8/15/20		190,000		209,892
Sprint
#144A 7.125% 6/15/24		60,000		60,675
#144A 7.875% 9/15/23		35,000		37,187
T-Mobile USA
6.125% 1/15/22		70,000		70,613
6.836% 4/28/23		10,000		10,313


				388,680

Total Corporate Bonds (Cost $21,356,693)				21,778,323


MUNICIPAL BONDS–0.16%
Golden State, California Tobacco Securitization Asset-Back Senior Notes Series A-1
5.125% 6/1/47		20,000		14,709
5.75% 6/1/47		20,000		15,954
New Jersey State Transportation Trust Fund Series AA 5.00% 6/15/44		20,000		21,275
New York City, New York Series I 5.00% 8/1/22		15,000		17,969
New York State Thruway Authority Series A 5.00% 5/1/19		20,000		23,211
Oregon State Taxable Pension 5.892% 6/1/27		35,000		42,762
State of Maryland Local Facilities Series A 5.00% 8/1/21		20,000		24,266
Texas Private Activity Bond Surface Transportation Senior Lien Revenue Bond (NTE Mobility) 6.75% 6/30/43		15,000		18,029

Total Municipal Bonds (Cost $163,558)				178,175


NON-AGENCY ASSET-BACKED SECURITIES–0.55%
#Applebee’s Series 2014-1 A2 144A 4.277% 9/5/44		65,000		64,382


	Principal Amount°		Value (U.S. $)

NON-AGENCY ASSET-BACKED SECURITIES (continued)
#ARL Second Series 2014-1A A1 144A 2.92% 6/15/44		97,427	$	96,979
#Avis Budget Rental Car Funding AESOP Series 2013-1A A 144A 1.92% 9/20/19		100,000		99,127
•BA Credit Card Trust Series 2014-A3 A 0.444% 1/15/20		35,000		35,005
#HOA Funding Series 2014-1A A2 144A 4.846% 8/20/44		65,000		64,695
Mid-State Trust Series 11 A1 4.864% 7/15/38		11,611		12,366
#MMAF Equipment Finance Series 2014-AA A4 144A 1.59% 2/8/22		100,000		98,966
#•Trafigura Securitisation Finance Series 2012-1A A 144A 2.554% 10/15/15		140,000		140,580

Total Non-Agency Asset-Backed Securities (Cost $614,594)				612,100


NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.19%
fAmerican Home Mortgage Investment Trust Series 2005-2 5A1 5.064% 9/25/35		11,735		11,633
Bank of America Alternative Loan Trust
Series 2005-3 2A1 5.50% 4/25/20		9,521		9,827
Series 2005-6 7A1 5.50% 7/25/20		1,838		1,872
•ChaseFlex Trust Series 2006-1 A4 5.099% 6/25/36		100,000		89,469
Credit Suisse First Boston Mortgage Securities Series 2005-5 6A3 5.00% 7/25/35		30,597		30,661
#•GSMPS Mortgage Loan Trust 144A Series 1998-3 A 7.75% 9/19/27		8,482		8,896
JPMorgan Mortgage Trust Series 2006-S1 1A1 6.00% 4/25/36		31,623		31,939
•MASTR ARM Trust Series 2003-6 1A2 2.45% 12/25/33		3,114		3,113
#•MASTR Specialized Loan Trust Series 2005-2 A2 5.006% 7/25/35		1,737		1,737


		Principal Amount°		Value (U.S. $)

NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
¿Structured Asset Securities Corporation Mortgage Pass Through Certificates Series 2004-20 2A1 5.50% 11/25/34			15,577	$	15,904

Total Non-Agency Collateralized Mortgage Obligations (Cost $166,565)					205,051


DREGIONAL BONDS–0.02%
Australia–0.01%
Queensland Treasury #144A 4.75% 7/21/25	AUD		13,000		12,064
Canada–0.01%
Province of Ontario Canada 3.45% 6/2/45	CAD		11,000		9,570

Total Regional Bonds (Cost $22,115)					21,634


«SENIOR SECURED LOANS–3.29%
Activision Blizzard Tranche B 1st Lien 3.25% 9/12/20			72,038		71,943
Allegion US Holding Tranche B 3.00% 12/26/20			124,063		123,597
Aramark Tranche E 3.25% 9/7/19			58,200		57,291
Azure Midstream Tranche B 6.50% 10/21/18			46,907		46,555
BJ’s Wholesale Club Tranche B 1st Lien 4.50% 9/26/19			113,988		112,438
Caesars Growth Partners Tranche B 1st Lien 6.25% 5/8/21			44,888		42,713
Calpine Construction Finance Tranche B 3.00% 5/1/20			98,551		95,545
Charter Communications Tranche B 1st Lien 4.25% 8/12/21			45,000		44,946
Chrysler Group Tranche B 1st Lien 3.50% 5/24/17			4,924		4,891
Clear Channel Communications Tranche B 3.65% 1/29/16			36,333		36,056
Community Health Systems Tranche D 4.25% 1/27/21			82,550		82,410
Community Health Systems Tranche E 3.25% 1/25/17			21,662		21,581
Delta Air Lines Tranche B 1st Lien 3.25% 4/20/17			48,622		48,123
Drillships Financing Holdings Tranche B1 6.00% 2/17/21			39,600		38,065
Emdeon 1st Lien 3.75% 11/2/18			63,110		62,499
First Data Tranche B 1st Lien 4.00% 3/24/21			217,237		214,590


	Principal Amount°		Value (U.S. $)

«SENIOR SECURED LOANS (continued)
HCA Tranche B4 2.75% 5/1/18		89,100	$	88,172
HCA Tranche B5 1st Lien 2.75% 3/31/17		97,020		96,535
Hilton Worldwide Finance Tranche B2 3.50% 9/23/20		219,067		215,963
Huntsman International Tranche B 3.75% 10/11/20		195,000		193,294
Immucor Tranche B2 5.00% 8/19/18		39,055		38,860
Infor US Tranche B5 1st Lien 3.75% 6/3/20		151,273		148,106
Intelsat Jackson Holdings Tranche B2 3.75% 6/30/19		110,553		108,991
KIK Custom Products 1st Lien 5.50% 5/17/19		124,059		124,241
Landry’s Tranche B 4.00% 4/24/18		31,652		31,446
Level 3 Financing Tranche B 4.00% 1/15/20		60,000		59,017
Moxie Liberty Tranche B 7.50% 8/21/20		5,000		5,113
NEP/NCP Tranche B 1st Lien 4.25% 1/22/20		39,800		38,938
Novelis Tranche B 3.75% 3/10/17		37,323		36,949
Nuveen Investments 1st Lien 4.00% 5/13/17		55,000		54,936
Nuveen Investments 2nd Lien 6.50% 2/28/19		190,000		190,879
OSI Restaurants Tranche B 1st Lien 3.50% 10/26/19		21,375		21,346
Patheon 4.25% 1/23/21		174,563		170,947
Republic of Angola 6.25% 12/16/23		72,000		72,000
Samson Investment 2nd Lien 5.00% 9/25/18		70,000		67,813
Scientific Games International 4.25% 5/22/20		59,550		58,508
Sprouts Farmers 4.00% 4/12/20		43,754		43,581
Univision Communications Tranche C4 4.00% 3/1/20		163,950		161,133
USI Insurance Services Tranche B 1st Lien 4.25% 12/3/18		39,303		38,664
Valeant Pharmaceuticals Tranche BE 3.75% 8/5/20		47,772		47,282
Wide Open West Finance 4.75% 3/27/19		226,550		226,172


	Principal Amount°		Value (U.S. $)

«SENIOR SECURED LOANS (continued)
Zayo Group Tranche B 1st Lien 4.00% 7/2/19		182,682	$	180,388

Total Senior Secured Loans (Cost $3,640,113)				3,622,517


DSOVEREIGN BONDS–0.70%
Brazil–0.04%
Brazil Notas do Tesouro Nacional Series F
10.00% 1/1/17	BRL	36,000		14,065
10.00% 1/1/21	BRL	77,000		28,324


				42,389

Colombia–0.05%
Colombia Government International Bond
4.375% 3/21/23	COP	75,000,000		32,093
9.85% 6/28/27	COP	33,000,000		20,641


				52,734

Iceland–0.10%
#Republic of Iceland 144A 5.875% 5/11/22		100,000		112,818


				112,818

Japan–0.01%
Japanese Government CPI Linked Bond 0.10% 3/10/24	JPY	1,646,400		16,192


				16,192

Mexico–0.04%
Mexican Bonos
6.50% 6/10/21	MXN	37,600		2,934
6.50% 6/9/22	MXN	496,000		38,338


				41,272

Norway–0.01%
Kommunalbanken 5.00% 3/28/19	NZD	22,000		17,434


				17,434

Poland–0.01%
Poland Government Bond
^2.242% 7/25/16	PLN	25,000		7,287
5.25% 10/25/17	PLN	27,000		8,912


				16,199

Portugal–0.02%
#Portugal Government International Bond 144A 5.125% 10/15/24		20,000		20,740


				20,740

Republic of Korea–0.06%
Korea Treasury Inflation-Linked Bond 1.125% 6/10/23	KRW	67,681,013		62,299


				62,299


	Principal Amount°		Value (U.S. $)

DSOVEREIGN BONDS (continued)
Romania–0.03%
#Romanian Government International Bond 144A 4.875% 1/22/24		28,000	$	29,820


				29,820

South Africa–0.06%
South Africa Government Bond 8.00% 1/31/30	ZAR	770,000		64,113


				64,113

Sri Lanka–0.19%
#Sri Lanka Government International Bond 144A 6.00% 1/14/19		200,000		211,500


				211,500

Sweden–0.02%
Sweden Government Bond
1.50% 11/13/23	SEK	140,000		19,648
2.50% 5/12/25	SEK	5,000		762


				20,410

United Kingdom–0.06%
United Kingdom Gilt Inflation-Linked Bond 0.125% 3/22/24	GBP	40,129		68,832


				68,832

Total Sovereign Bonds (Cost $776,883)				776,752


SUPRANATIONAL BANKS–0.08%
European Bank for Reconstruction & Development 6.00% 3/3/16	INR	2,000,000		32,225
Inter-American Development Bank 7.25% 7/17/17	IDR	130,000,000		10,606
International Bank for Reconstruction & Development
•2.898% 9/24/18	AUD	36,000		31,547
4.625% 10/6/21	NZD	13,000		10,102

Total Supranational Banks (Cost $87,702)				84,480


U.S. TREASURY OBLIGATIONS–3.88%
U.S. Treasury Bond 3.125% 8/15/44		1,160,000		1,141,604
•¥U.S. Treasury Floating Rate Note 0.084% 4/30/16		845,000		845,467
U.S. Treasury Notes
1.75% 9/30/19		800,000		798,969
2.375% 8/15/24		1,505,000		1,487,717

Total U.S. Treasury Obligations (Cost $4,278,397)				4,273,757

The following foreign currency exchange contracts and futures contracts were outstanding at September 30, 2014:

The use of foreign currency exchange contracts and futures contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The foreign currency exchange contracts and notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

COMMON STOCK–99.33%
Aerospace & Defense–5.04%
Boeing		82,800	$	10,547,064
†Esterline Technologies		63,200		7,032,264
Honeywell International		143,100		13,325,472
Lockheed Martin		88,900		16,249,142
Rockwell Collins		66,500		5,220,250
United Technologies		145,400		15,354,240


				67,728,432

Air Freight & Logistics–1.26%
FedEx		105,000		16,952,250


				16,952,250

Auto Components–0.51%
Borg Warner		130,700		6,876,127


				6,876,127

Automobiles–1.01%
Ford Motor		915,200		13,535,808


				13,535,808

Banks–5.56%
Citigroup		393,700		20,401,534
JPMorgan Chase		497,300		29,957,352
Wells Fargo		469,565		24,356,336


				74,715,222

Beverages–2.16%
Coca-Cola		99,400		4,240,404
PepsiCo		265,700		24,734,013


				28,974,417

Biotechnology–4.43%
†Alkermes		165,150		7,079,981
†Celgene		205,200		19,448,856
†Gilead Sciences		231,200		24,611,240
†Vertex Pharmaceuticals		73,700		8,277,247


				59,417,324

Capital Markets–4.84%
Ameriprise Financial		96,200		11,869,156
BlackRock		32,500		10,670,400
Evercore Partners Class A		135,100		6,349,700
Invesco		280,500		11,074,140
Raymond James Financial		224,800		12,044,784
State Street		176,600		12,999,526


				65,007,706

Chemicals–2.53%
duPont (E.I.) deNemours		186,300		13,368,888
Eastman Chemical		160,000		12,942,400
Huntsman		293,700		7,633,263


				33,944,551


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Commercial Services & Supplies–0.62%
Republic Services		212,200	$	8,280,044


				8,280,044

Communications Equipment–2.15%
Cisco Systems		424,200		10,677,114
QUALCOMM		243,200		18,184,064


				28,861,178

Consumer Finance–1.34%
Capital One Financial		220,365		17,986,191


				17,986,191

Containers & Packaging–0.94%
MeadWestvaco		307,600		12,593,144


				12,593,144

Diversified Financial Services–0.85%
IntercontinentalExchange Group		58,650		11,439,683


				11,439,683

Diversified Telecommunication Services–1.59%
AT&T		605,100		21,323,724


				21,323,724

Electric Utilities–1.35%
Edison International		123,200		6,889,344
OGE Energy		301,600		11,192,376


				18,081,720

Electrical Equipment–0.70%
Eaton		148,000		9,378,760


				9,378,760

Energy Equipment & Services–2.10%
Core Laboratories		46,500		6,805,275
Schlumberger		210,200		21,375,238


				28,180,513

Food & Staples Retailing–1.92%
Casey’s General Stores		77,700		5,571,090
CVS Health		254,400		20,247,696


				25,818,786

Food Products–0.96%
General Mills		255,300		12,879,885


				12,879,885

Health Care Providers & Services–2.70%
†Express Scripts Holding		238,100		16,817,003
UnitedHealth Group		225,800		19,475,250


				36,292,253

Hotels, Restaurants & Leisure–1.59%
McDonald’s		73,700		6,987,497


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Hotels, Restaurants & Leisure (continued)
Starbucks		190,500	$	14,375,130


				21,362,627

Household Products–2.96%
Kimberly-Clark		95,200		10,240,664
Procter & Gamble		352,300		29,501,602


				39,742,266

Industrial Conglomerates–1.95%
General Electric		1,024,300		26,242,566


				26,242,566

Insurance–2.68%
AFLAC		217,000		12,640,250
Prudential Financial		102,300		8,996,262
Travelers		152,000		14,278,880


				35,915,392

Internet Software & Services–2.96%
†Facebook Class A		217,300		17,175,392
†Google Class A		38,400		22,594,944


				39,770,336

IT Services–1.56%
Accenture Class A		200,300		16,288,396
International Business Machines		24,300		4,612,869


				20,901,265

Life Sciences Tools & Services–1.36%
Thermo Fisher Scientific		149,700		18,218,490


				18,218,490

Machinery–2.13%
Caterpillar		54,600		5,407,038
Cummins		59,700		7,879,206
Deere		68,400		5,608,116
Parker Hannifin		85,300		9,736,995


				28,631,355

Media–2.14%
Cinemark Holdings		106,200		3,615,048
Comcast Class A		296,600		15,868,100
Regal Entertainment Group Class A		169,448		3,368,626
Viacom Class B		77,248		5,943,461


				28,795,235

Multiline Retail–1.95%
Macy’s		250,400		14,568,272
Nordstrom		170,200		11,636,574


				26,204,846

Multi-Utilities–1.52%
MDU Resources Group		336,000		9,344,160


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Multi-Utilities (continued)
Sempra Energy		104,500	$	11,012,210


				20,356,370

Oil, Gas & Consumable Fuels–7.42%
Chevron		245,500		29,293,060
ConocoPhillips		94,200		7,208,184
EOG Resources		130,800		12,951,816
Exxon Mobil		272,800		25,656,840
Marathon Oil		285,100		10,716,909
Occidental Petroleum		143,400		13,787,910


				99,614,719

Paper & Forest Products–0.51%
International Paper		142,000		6,779,080


				6,779,080

Pharmaceuticals–6.25%
AbbVie		343,800		19,857,888
†Actavis		41,800		10,085,504
Johnson & Johnson		44,300		4,721,937
Merck		392,600		23,273,328
Pfizer		878,042		25,963,702


				83,902,359

Professional Services–0.64%
Nielsen Holdings		195,000		8,644,350


				8,644,350

Real Estate Investment Trusts–2.51%
American Tower		163,800		15,336,594
Host Hotels & Resorts		474,364		10,118,184
National Retail Properties		237,300		8,203,461


				33,658,239

Road & Rail–2.06%
Hunt (J.B.) Transport Services		94,200		6,975,510
Union Pacific		191,200		20,729,904


				27,705,414

Semiconductors & Semiconductor Equipment–2.77%
Avago Technologies		112,700		9,804,900
Intel		459,500		15,999,790
Maxim Integrated Products		378,600		11,448,864


				37,253,554

Software–2.87%
Microsoft		617,400		28,622,664
†salesforce.com		173,100		9,958,443


				38,581,107

Specialty Retail–2.06%
DSW Class A		253,924		7,645,651
Tractor Supply		170,400		10,481,304


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Specialty Retail (continued)
†Urban Outfitters		260,500	$	9,560,350


				27,687,305

Technology Hardware, Storage & Peripherals–4.88%
Apple		438,150		44,143,613
EMC		731,600		21,406,616


				65,550,229


Total Common Stock (Cost $726,133,432)				1,333,784,822


	Number of Shares		Value (U.S. $)

MONEY MARKET FUND–0.03%

Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		382,495	$	382,495


Total Money Market Fund (Cost $382,495)				382,495


	Principal Amount°

SHORT-TERM INVESTMENT–0.22%
≠Discounted Commercial Paper–0.22%
Abbey National North America 0.06% 10/1/14		2,965,000		2,965,000


Total Short-Term Investment (Cost $2,965,000)				2,965,000

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of		Value
	Shares		(U.S. $)

COMMON STOCK–98.73%
Aerospace & Defense–1.11%
Rockwell Collins		108,100	$	8,485,850


				8,485,850

Air Freight & Logistics–2.39%
FedEx		113,000		18,243,850


				18,243,850

Auto Components–0.88%
Borg Warner		128,400		6,755,124


				6,755,124

Automobiles–1.28%
Ford Motor		662,600		9,799,854


				9,799,854

Banks–1.74%
U.S. Bancorp		318,500		13,322,855


				13,322,855

Beverages–1.94%
PepsiCo		158,800		14,782,692


				14,782,692

Biotechnology–6.13%
†Alkermes		101,800		4,364,166
†Celgene		157,200		14,899,416
†Gilead Sciences		202,900		21,598,705
†Vertex Pharmaceuticals		53,000		5,952,430


				46,814,717

Capital Markets–7.19%
Ameriprise Financial		70,600		8,710,628
BlackRock		43,500		14,281,920
Invesco		301,400		11,899,272
Raymond James Financial		176,600		9,462,228
State Street		143,900		10,592,479


				54,946,527

Chemicals–1.99%
Eastman Chemical		99,700		8,064,733
Huntsman		275,400		7,157,646


				15,222,379

Communications Equipment–2.65%
Cisco Systems		249,000		6,267,330
QUALCOMM		186,900		13,974,513


				20,241,843

Consumer Finance–1.64%
Capital One Financial		153,450		12,524,589


				12,524,589

Containers & Packaging–1.19%
MeadWestvaco		221,700		9,076,398


				9,076,398


	Number of		Value
	Shares		(U.S. $)

COMMON STOCK (continued)
Diversified Financial Services–1.06%
IntercontinentalExchange Group		41,550	$	8,104,328


				8,104,328

Diversified Telecommunication Services–1.83%
AT&T		397,700		14,014,948


				14,014,948

Electric Utilities–1.10%
OGE Energy		225,600		8,372,016


				8,372,016

Electrical Equipment–0.42%
Acuity Brands		27,200		3,201,712


				3,201,712

Energy Equipment & Services–1.28%
Baker Hughes		93,500		6,083,110
Core Laboratories		25,000		3,658,750


				9,741,860

Food & Staples Retailing–2.36%
CVS Health		226,300		18,011,217


				18,011,217

Food Products–2.04%
General Mills		308,800		15,578,960


				15,578,960

Health Care Equipment & Supplies–2.12%
Abbott Laboratories		195,800		8,143,322
Baxter International		112,700		8,088,479


				16,231,801

Health Care Providers & Services–3.71%
†Express Scripts Holding		175,900		12,423,817
UnitedHealth Group		184,200		15,887,250


				28,311,067

Health Care Technology–0.51%
†Cerner		65,000		3,872,050


				3,872,050

Hotels, Restaurants & Leisure–2.18%
Starbucks		220,200		16,616,292


				16,616,292

Industrial Conglomerates–1.34%
Roper Industries		69,800		10,211,042


				10,211,042

Insurance–4.94%
AFLAC		236,400		13,770,300
Prudential Financial		148,600		13,067,884
Travelers		116,200		10,915,828


				37,754,012


	Number of		Value
	Shares		(U.S. $)

COMMON STOCK (continued)
Internet Software & Services–3.27%
†Facebook Class A		157,100	$	12,417,184
†Google Class A		21,400		12,591,974


				25,009,158

IT Services–2.50%
Accenture Class A		167,300		13,604,836
International Business Machines		29,100		5,524,053


				19,128,889

Life Sciences Tools & Services–1.59%
Thermo Fisher Scientific		100,100		12,182,170


				12,182,170

Machinery–3.24%
Cummins		33,000		4,355,340
Deere		128,200		10,511,118
Lincoln Electric Holdings		64,600		4,466,121
Parker Hannifin		47,600		5,433,540


				24,766,119

Media–4.38%
Comcast Class A		381,400		20,511,692
Regal Entertainment Group Class A		209,800		4,170,824
Viacom Class B		113,760		8,752,694


				33,435,210

Multiline Retail–3.23%
Macy’s		228,200		13,276,676
Nordstrom		167,000		11,417,790


				24,694,466

Oil, Gas & Consumable Fuels–5.12%
†Antero Resources		33,000		1,811,370
EOG Resources		192,400		19,051,448
EQT		47,500		4,348,150
Marathon Oil		369,200		13,878,228


				39,089,196

Paper & Forest Products–0.95%
International Paper		152,200		7,266,028


				7,266,028

Pharmaceuticals–4.50%
AbbVie		256,500		14,815,440
†Actavis		23,600		5,694,208
Allergan		77,700		13,845,363


				34,355,011


	Number of		Value
	Shares		(U.S. $)

COMMON STOCK (continued)
Professional Services–0.92%
Nielsen		159,100	$	7,052,903


				7,052,903

Real Estate Investment Trusts–2.17%
American Tower		114,100		10,683,183
National Retail Properties		170,100		5,880,357


				16,563,540

Road & Rail–0.49%
Hunt (J.B.) Transport Services		50,100		3,709,905


				3,709,905

Semiconductors & Semiconductor Equipment–3.51%
Avago Technologies		69,000		6,003,000
Intel		237,000		8,252,340
Maxim Integrated Products		414,700		12,540,528


				26,795,868

Software–3.07%
Microsoft		330,300		15,312,708
†salesforce.com		141,900		8,163,507


				23,476,215

Specialty Retail–2.49%
DSW Class A		193,490		5,825,984
Tractor Supply		127,300		7,830,223
†Urban Outfitters		145,200		5,328,840


				18,985,047

Technology Hardware, Storage & Peripherals–2.28%
EMC		595,200		17,415,552


				17,415,552

Total Common Stock (Cost $416,487,048)				754,163,260


MONEY MARKET FUND–1.28%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		9,730,749		9,730,746


Total Money Market Fund (Cost $9,730,749)				9,730,746

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–96.41%
Auto Components–2.71%
Borg Warner		104,700	$	5,508,267
Johnson Controls		88,500		3,894,000
†TRW Automotive Holdings		80,300		8,130,375


				17,532,642

Banks–8.63%
Associated Banc-Corp.		175,900		3,064,178
Bank of Hawaii		120,800		6,862,648
Comerica		300,700		14,992,902
East West Bancorp		471,800		16,041,200
First Horizon National		536,110		6,583,431
Hancock Holding		107,700		3,451,785
Zions Bancorp		168,800		4,905,328


				55,901,472

Beverages–1.14%
Dr Pepper Snapple Group		114,600		7,369,926


				7,369,926

Capital Markets–1.81%
Raymond James Financial		219,550		11,763,489


				11,763,489

Chemicals–7.87%
Albemarle		163,000		9,600,700
Celanese Class A		240,000		14,044,800
Cytec Industries		255,400		12,077,866
FMC		89,100		5,095,629
†Grace (W.R.) & Co.		111,700		10,157,998


				50,976,993

Commercial Services & Supplies–0.47%
Brink’s		126,000		3,029,040


				3,029,040

Construction & Engineering–1.56%
Chicago Bridge & Iron		75,600		4,373,460
KBR		304,200		5,728,086


				10,101,546

Containers & Packaging–1.32%
†Owens-Illinois		328,500		8,557,425


				8,557,425

Diversified Consumer Services–1.22%
Service International		374,600		7,919,044


				7,919,044

Electric Utilities–2.03%
Edison International		134,300		7,510,056
PPL		172,700		5,671,468


				13,181,524


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Electrical Equipment–1.23%
Regal-Beloit		124,100	$	7,973,425


				7,973,425

Electronic Equipment, Instruments & Components–1.62%
Avnet		252,900		10,495,350


				10,495,350

Energy Equipment & Services–4.69%
ENSCO		216,600		8,947,746
Helmerich & Payne		63,900		6,253,893
Rowan Class A		165,400		4,186,274
Superior Energy Services		335,100		11,014,737


				30,402,650

Food Products–0.81%
Tyson Foods Class A		132,700		5,224,399


				5,224,399

Health Care Equipment & Supplies–2.15%
Becton, Dickinson		74,000		8,421,940
Zimmer Holdings		54,700		5,500,085


				13,922,025

Health Care Providers & Services–4.30%
Cigna		80,300		7,282,407
McKesson		49,900		9,714,033
Omnicare		73,400		4,569,884
Universal Health Services Class B		60,200		6,290,900


				27,857,224

Hotels, Restaurants & Leisure–1.43%
†Bloomin’ Brands		211,300		3,875,242
Starwood Hotels & Resorts Worldwide		64,900		5,400,329


				9,275,571

Household Durables–2.07%
D.R.Horton		280,933		5,764,745
Newell Rubbermaid		222,700		7,663,107


				13,427,852

Insurance–10.51%
American Financial Group		274,650		15,899,489
Berkley (W.R.)		197,350		9,433,330
HCC Insurance Holdings		225,300		10,879,737
Reinsurance Group of America		141,000		11,298,330
Torchmark		261,150		13,676,426
Validus Holdings		176,500		6,908,210


				68,095,522

IT Services–1.80%
†Fiserv		180,800		11,686,008


				11,686,008


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Leisure Products–1.12%
Hasbro		132,500	$	7,286,837


				7,286,837

Life Sciences Tools & Services–2.60%
Agilent Technologies		166,700		9,498,566
Thermo Fisher Scientific		60,500		7,362,850


				16,861,416

Machinery–2.34%
ITT		235,400		10,578,876
Terex		143,800		4,568,526


				15,147,402

Media–0.55%
Meredith		83,625		3,579,150


				3,579,150

Multiline Retail–2.29%
Macy’s		131,800		7,668,124
Nordstrom		105,100		7,185,687


				14,853,811

Multi-Utilities–2.07%
Public Service Enterprise Group		161,400		6,010,536
Wisconsin Energy		171,500		7,374,500


				13,385,036

Oil, Gas & Consumable Fuels–5.44%
†Newfield Exploration		305,400		11,321,178
Tesoro		124,500		7,592,010
†Whiting Petroleum		210,600		16,332,030


				35,245,218

Pharmaceuticals–0.94%
†Actavis		25,200		6,080,256


				6,080,256

Professional Services–0.97%
ManpowerGroup		89,800		6,294,980


				6,294,980

Real Estate Investment Trusts–4.47%
Boston Properties		44,200		5,116,592
Brandywine Realty Trust		367,500		5,170,725
CBL & Associates Properties		270,800		4,847,320
Highwoods Properties		230,400		8,962,560
Kimco Realty		221,700		4,857,447


				28,954,644

Road & Rail–2.25%
Canadian National Railway		101,200		7,181,152
CSX		230,900		7,402,654


				14,583,806


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Semiconductors & Semiconductor Equipment–0.77%
Teradyne		258,000	$	5,002,620


				5,002,620

Software–4.84%
†Adobe Systems		132,300		9,153,837
†Citrix Systems		82,700		5,899,818
Compuware		69,861		741,225
Symantec		209,300		4,920,643
†Synopsys		268,400		10,654,138


				31,369,661

Specialty Retail–1.38%
Staples		254,300		3,077,030
Tiffany & Co.		60,800		5,855,648


				8,932,678

Textiles, Apparel & Luxury Goods–1.21%
VF		118,400		7,817,952


				7,817,952

Tobacco–1.10%
Reynolds American		121,400		7,162,600


				7,162,600

Trading Companies & Distributors–2.70%
†United Rentals		157,300		17,476,030


				17,476,030


Total Common Stock (Cost $363,987,972)				624,727,224


MONEY MARKET FUND–0.03%
Dreyfus Treasury & Agency Cash Management - Institutional Shares		192,697		192,697


Total Money Market Fund (Cost $192,697)				192,697


	Principal Amount°

SHORT-TERM INVESTMENT–2.87%
≠Discounted Commercial Paper–2.87%
Abbey National North America 0.06% 10/1/14		18,575,000		18,575,000


Total Short-Term Investment (Cost $18,575,000)				18,575,000

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANY–1.96%
Money Market Fund–1.96%
*Lincoln Variable Insurance Products Trust– LVIP Money Market Fund		391,893	$	3,918,929


Total Affiliated Investment Company (Cost $3,918,929)				3,918,929

UNAFFILIATED INVESTMENT COMPANIES–97.78%
International Equity Funds–91.04%
**DFA Emerging Markets Core Equity Portfolio		905,167		18,076,176
**DFA International Core Equity Portfolio		3,775,720		46,554,632
**DFA International Real Estate Securities Portfolio		1,697,539		9,200,661
**DFA International Small Cap Value Portfolio		462,527		9,245,920


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES (continued)
International Equity Funds (continued)
**DFA International Vector Equity Portfolio		1,618,384	$	18,562,864
**DFA Large Cap International Portfolio		2,149,796		46,822,548
**DFA VA International Small Portfolio		1,231,315		14,825,035
**DFA VA International Value Portfolio		1,439,131		18,679,926


				181,967,762


Money Market Fund–6.74%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		13,479,247		13,479,247


				13,479,247


Total Unaffiliated Investment Companies (Cost $184,463,796)				195,447,009

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANY–1.93%
Money Market Fund–1.93%
*Lincoln Variable Insurance Products Trust–LVIP Money Market Fund		646,791	$	6,467,912


Total Affiliated Investment Company (Cost $6,467,912)				6,467,912

UNAFFILIATED INVESTMENT COMPANIES–97.99%
Equity Funds–91.21%
**DFA Real Estate Securities Portfolio		515,777		15,065,848
**DFA U.S. Core Equity 1 Portfolio		3,639,511		62,890,749
**DFA U.S. Large Company Portfolio		6,131,871		95,411,907
**DFA U.S. Large Value Portfolio		2,016,692		47,069,586
**DFA U.S. Micro Cap Portfolio		809,020		15,266,200
**DFA U.S. Small Cap Portfolio		827,361		24,506,422


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES (continued)
Equity Funds (continued)
**DFA U.S. Small Cap Value Portfolio		441,228	$	15,107,643
**DFA VA U.S. Targeted Value Portfolio		1,633,589		30,466,427


				305,784,782


Money Market Fund–6.78%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		22,714,422		22,714,422


				22,714,422


Total Unaffiliated Investment Companies (Cost $274,592,431)				328,499,204

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANY–2.00%
Money Market Fund–2.00%
*Lincoln Variable Insurance Products Trust–LVIP Money Market Fund		710,569	$	7,105,689


Total Affiliated Investment Company (Cost $7,105,689)				7,105,689

UNAFFILIATED INVESTMENT COMPANIES–97.51%
Fixed Income Funds–97.35%
**DFA Inflation-Protected Securities Portfolio		1,493,450		17,398,692
**DFA Intermediate Term Extended Quality Portfolio		4,612,000		49,440,639
**DFA Two-Year Global Fixed Income Portfolio		3,549,293		35,492,931
**DFA VA Global Bond Portfolio		2,612,537		28,346,021
**DFA VA Short Term Fixed Portfolio		4,175,662		42,633,505
Vanguard Long-Term Bond ETF		117,416		10,594,446


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES (continued)
Fixed Income Funds (continued)
Vanguard Mortgage-Backed Securities ETF		810,398	$	42,602,623
Vanguard Short-Term Corporate Bond ETF		177,306		14,161,430
Vanguard Total Bond Market ETF		1,298,469		106,383,565


				347,053,852


Money Market Fund–0.16%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		585,246		585,246


				585,246


Total Unaffiliated Investment Companies (Cost $347,032,120)				347,639,098

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANY–2.06%
Money Market Fund–2.06%
*Lincoln Variable Insurance Products Trust–LVIP Money Market Fund		354,525	$	3,545,254


Total Affiliated Investment Company (Cost $3,545,254)				3,545,254

UNAFFILIATED INVESTMENT COMPANIES–97.96%
Equity Funds–97.96%
Vanguard Dividend Appreciation ETF		225,456		17,348,839
Vanguard Mega Cap 300 Growth ETF		358,560		27,888,797
Vanguard Mega Cap 300 Value ETF		591,807		34,721,317
Vanguard Mid-Cap Growth Index ETF		70,962		6,832,221
Vanguard Mid-Cap Value Index ETF		120,718		10,248,958


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES (continued)
Equity Funds (continued)
Vanguard REIT ETF		90,916	$	6,532,314
Vanguard Small-Cap Growth ETF		42,142		5,071,790
Vanguard Small-Cap Value ETF		83,732		8,351,430
Vanguard Total Stock Market ETF		459,570		46,526,867
**Vanguard Variable Insurance Fund–Small Company Growth Portfolio		231,121		5,068,487


				168,591,020


Total Unaffiliated Investment Companies (Cost $125,194,182)				168,591,020

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANY–2.11%
Money Market Fund–2.11%
*Lincoln Variable Insurance Products Trust–LVIP Money Market Fund		242,240	$	2,422,404


Total Affiliated Investment Company (Cost $2,422,404)				2,422,404

UNAFFILIATED INVESTMENT COMPANIES–99.22%
International Equity Funds–97.29%
Vanguard FTSE All-World ex-U.S. ETF		347,249		17,098,541
Vanguard FTSE All-World ex-U.S. Small-Cap ETF		166,531		17,007,811
Vanguard FTSE Developed Markets ETF		579,985		23,054,404
Vanguard FTSE Emerging Markets ETF		261,015		10,886,936
Vanguard FTSE European ETF		188,045		10,383,845


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES (continued)
International Equity Funds (continued)
Vanguard FTSE Pacific ETF		329,280	$	19,526,304
Vanguard Global ex-U.S. Real Estate ETF		81,953		4,462,341
**Vanguard VA International Portfolio		431,467		9,185,931


				111,606,113


Money Market Fund–1.93%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		2,208,018		2,208,018


				2,208,018


Total Unaffiliated Investment Companies (Cost $103,756,012)				113,814,131

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–32.42%
U.S. MARKETS–14.97%
Aerospace & Defense–0.14%
Rockwell Collins		180	$	14,130


				14,130

Air Freight & Logistics–0.14%
United Parcel Service Class B		140		13,761


				13,761

Banks–1.08%
Citigroup		930		48,193
JPMorgan Chase		770		46,385
SunTrust Banks		380		14,451


				109,029

Biotechnology–1.07%
Amgen		380		53,375
†Gilead Sciences		450		47,903
†Isis Pharmaceuticals		180		6,989


				108,267

Capital Markets–0.34%
Morgan Stanley		980		33,879


				33,879

Communications Equipment–0.31%
Cisco Systems		1,220		30,707


				30,707

Consumer Finance–0.31%
Capital One Financial		380		31,016


				31,016

Diversified Financial Services–0.31%
Voya Financial		810		31,671


				31,671

Diversified Telecommunication Services–0.12%
Verizon Communications		240		11,998


				11,998

Electronic Equipment, Instruments & Components–0.19%
†Knowles		740		19,610


				19,610

Energy Equipment & Services–0.41%
Baker Hughes		320		20,819
Noble		840		18,665
Paragon Offshore		280		1,722


				41,206

Food & Staples Retailing–0.42%
CVS Health		380		30,244
Walgreen		210		12,447


				42,691


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Health Care Equipment & Supplies–0.30%
Medtronic		480	$	29,736


				29,736

Insurance–0.30%
ACE		70		7,341
American International Group		420		22,688


				30,029

Machinery–0.21%
Stanley Black & Decker		240		21,310


				21,310

Media–0.91%
Comcast Class A		840		44,940
†News Class A		1,190		19,457
Twenty-First Century Fox Class A		800		27,432


				91,829

Metals & Mining–0.33%
Allegheny Technologies		890		33,019


				33,019

Multiline Retail–0.51%
Macy’s		590		34,326
Target		280		17,550


				51,876

Oil, Gas & Consumable Fuels–0.23%
Chesapeake Energy		410		9,426
Chevron		110		13,125
†Seventy Seven Energy		29		688


				23,239

Pharmaceuticals–1.28%
†Actavis		288		69,489
Merck		480		28,454
Pfizer		1,060		31,344


				129,287

Real Estate Investment Trusts–4.82%
Boston Properties		200		23,152
Education Realty Trust		1,200		12,336
Equity Lifestyle Properties		400		16,944
Equity Residential		600		36,948
Essex Property Trust		200		35,750
Extra Space Storage		600		30,942
General Growth Properties		1,600		37,680
†Howard Hughes		140		21,000
Kilroy Realty		300		17,832
Kimco Realty		1,500		32,865
Pebblebrook Hotel Trust		1,200		44,808
Prologis		500		18,850
Realty Income		700		28,553


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Real Estate Investment Trusts (continued)
Sabra Health Care REIT		800	$	19,456
Simon Property Group		200		32,884
STAG Industrial		900		18,639
Ventas		600		37,170
Vornado Realty Trust		200		19,992


				485,801

Semiconductors & Semiconductor Equipment–0.27%
Applied Materials		1,260		27,229


				27,229

Software–0.59%
Microsoft		1,290		59,804


				59,804

Specialty Retail–0.34%
Foot Locker		610		33,947


				33,947

Wireless Telecommunication Services–0.04%
†Sprint		680		4,311


				4,311


Total U.S. Markets (Cost $1,461,340)				1,509,382

§DEVELOPED MARKETS–15.04%
Aerospace & Defense–0.22%
BAE Systems		2,880		22,013


				22,013

Airlines–0.15%
Deutsche Lufthansa		970		15,321


				15,321

Auto Components–0.21%
Michelin Class B		230		21,695


				21,695

Automobiles–0.63%
Nissan Motor		3,900		38,017
Toyota Motor ADR		213		25,034


				63,051

Banks–2.03%
Barclays		4,000		14,749
BNP Paribas		670		44,446
Credit Agricole		2,010		30,326
DBS Group Holdings		1,000		14,440
HSBC Holdings		4,000		40,980
†Lloyds Banking Group		21,620		26,942
UniCredit		4,218		33,352


				205,235


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Beverages–0.28%
Suntory Beverage & Food		800	$	28,377


				28,377

Building Products–0.27%
Cie de Saint-Gobain		590		27,003


				27,003

Capital Markets–0.28%
Credit Suisse Group		1,020		28,282


				28,282

Chemicals–0.29%
Akzo Nobel		420		28,780


				28,780

Commercial Services & Supplies–0.20%
G4S		3,050		12,395
Serco Group		1,730		8,024


				20,419

Construction Materials–0.42%
CRH		1,120		25,620
HeidelbergCement		250		16,521


				42,141

Containers & Packaging–0.15%
Rexam		1,840		14,670


				14,670

Diversified Financial Services–0.55%
Deutsche Boerse		300		20,208
†ING Groep		2,450		35,000


				55,208

Diversified Telecommunication Services–1.19%
Singapore Telecommunications		9,000		26,810
Telefonica		2,181		33,760
Telenor		1,500		32,919
Vivendi		1,080		26,082


				119,571

Electrical Equipment–0.22%
†ABB		980		22,050


				22,050

Energy Equipment & Services–0.29%
Fugro		220		6,659
†Saipem		526		11,188
Technip		140		11,779


				29,626

Food & Staples Retailing–0.35%
†Metro		540		17,788


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Food & Staples Retailing (continued)
Tesco		5,850	$	17,658


				35,446

Health Care Equipment & Supplies–0.21%
Getinge Class B		830		20,945


				20,945

Household Durables–0.13%
Nikon		900		13,008


				13,008

Industrial Conglomerates–0.15%
Siemens ADR		129		15,360


				15,360

Insurance–1.18%
AIA Group		4,000		20,683
Aviva		4,240		35,983
AXA		1,160		28,586
Muenchener Rueckversicherungs		50		9,887
†NN Group		400		11,608
Swiss Re		160		12,763


				119,510

Life Sciences Tools & Services–0.15%
†QIAGEN		660		15,031


				15,031

Media–0.23%
British Sky Broadcasting Group		800		11,438
Reed Elsevier		510		11,576


				23,014

Multiline Retail–0.22%
Marks & Spencer Group		3,380		22,169


				22,169

Oil, Gas & Consumable Fuels–1.69%
BP ADR		464		20,393
ENI		1,418		33,798
Galp Energia		1,650		26,823
Kunlun Energy		12,000		17,309
Royal Dutch Shell Class B		510		20,148
Talisman Energy		2,100		18,171
Total		520		33,793


				170,435

Pharmaceuticals–2.31%
Bayer		250		35,019
GlaxoSmithKline		1,470		33,672
Merck		240		22,139
Novartis		130		12,276
Roche Holding		150		44,482
Sanofi		400		45,249


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Pharmaceuticals (continued)
Teva Pharmaceutical Industries ADR		747	$	40,151


				232,988

Semiconductors & Semiconductor Equipment–0.20%
Infineon Technologies ADR		2,000		20,600


				20,600

Software–0.10%
Trend Micro		300		10,149


				10,149

Specialty Retail–0.20%
Kingfisher		3,760		19,743


				19,743

Technology Hardware, Storage & Peripherals–0.18%
Konica Minolta Holdings		1,700		18,354


				18,354

Trading Companies & Distributors–0.21%
Noble Group		21,000		21,401


				21,401

Wireless Telecommunication Services–0.15%
Vodafone Group ADR		458		15,064


				15,064


Total Developed Markets (Cost $1,642,174)				1,516,659

×EMERGING MARKETS–2.41%
Auto Components–0.13%
Hyundai Mobis		52		12,668


				12,668

Banks–0.06%
KB Financial Group ADR		168		6,085


				6,085

Diversified Telecommunication Services–0.34%
China Telecom		56,000		34,329


				34,329

Health Care Providers & Services–0.16%
Sinopharm Group		4,400		16,093


				16,093

Insurance–0.25%
China Life Insurance		9,000		24,978


				24,978

Machinery–0.19%
CSR		10,100		8,884
Weichai Power		3,000		10,837


				19,721


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
×EMERGING MARKETS (continued)
Metals & Mining–0.44%
MMC Norilsk Nickel OJSC ADR		804	$	14,995
POSCO ADR		394		29,905


				44,900

Oil, Gas & Consumable Fuels–0.20%
China Shenhua Energy		5,000		13,941
Petroleo Brasileiro ADR		391		5,822


				19,763

Semiconductors & Semiconductor Equipment–0.64%
Samsung Electronics GDR		100		56,100
Taiwan Semiconductor Manufacturing ADR		432		8,718


				64,818


Total Emerging Markets (Cost $245,220)				243,355


Total Common Stock (Cost $3,348,734)				3,269,396


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANIES–53.71%
^²Franklin Floating Rate Daily Access Fund		33,148	$	300,983
^²Franklin Focused Core Equity Fund		34,602		497,578
^²Franklin High Income Fund		96,339		200,386
^²Franklin Mutual Global Discovery Fund		34,692		1,214,554
^²Franklin Rising Dividends Fund		29,299		1,455,296
^²Franklin Strategic Series - Franklin Strategic Income Fund		79,020		826,552
^²Templeton Global Bond Fund		69,669		921,023


Total Investment Companies (Cost $5,399,972)				5,416,372


MONEY MARKET FUND–14.06%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		1,417,520		1,417,520


Total Money Market Fund (Cost $1,417,520)				1,417,520

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing during the period. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Principal		Value
	Amount°		(U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES–0.43%
Fannie Mae ARM
•1.921% 11/1/34		45,802	$	48,750
•1.963% 10/1/37		48,048		50,988
•2.022% 11/1/37		69,365		73,306
•2.052% 4/1/38		253,060		269,198
•2.09% 9/1/33		318,703		339,982
•2.125% 9/1/34		190,570		201,737
•2.25% 10/1/32		79,435		83,301
•2.273% 7/1/34		71,947		76,954
•2.285% 2/1/35		30,278		32,572
•2.33% 9/1/33		177,490		179,756
•2.331% 6/1/35		847,304		890,505
•2.335% 4/1/34		273,334		292,094
•2.345% 6/1/36		58,718		63,484
•2.359% 8/1/36		59,550		63,711
•2.366% 5/1/36		16,264		17,555
•2.375% 3/1/35		104,535		112,239
•2.447% 1/1/37		17,011		18,181
•2.462% 1/1/37		172,638		185,566
•3.963% 4/1/38		110,363		118,291
•4.574% 5/1/38		154,833		166,910
•5.057% 10/1/35		381,652		406,778
Freddie Mac ARM
•1.984% 1/1/36		52,776		55,631
•2.212% 5/1/38		595,473		628,836
•2.367% 1/1/35		193,424		206,005
•2.375% 3/1/34		25,544		27,360
•2.405% 1/1/35		205,209		219,883
•2.432% 4/1/38		889,633		956,540
•2.488% 5/1/38		106,951		115,174
•2.512% 8/1/31		53,416		56,984
•2.534% 11/1/33		24,843		26,627
•2.564% 4/1/30		66,630		70,824
•2.575% 7/1/36		232,742		234,578
•2.658% 11/1/36		31,273		33,640
•5.125% 10/1/34		49,510		51,902

Total Agency Mortgage-Backed Securities (Cost $6,290,720)				6,375,842


COMMERCIAL MORTGAGE-BACKED SECURITIES–1.29%
•Bank of America Commercial Mortgage Trust Series 2006-4 AJ 5.695% 7/10/46		750,000		782,101
Bear Stearns Commercial Mortgage Securities Trust
•Series 2006-PW11 AJ 5.60% 3/11/39		700,000		727,042
•Series 2006-PW12 AJ 5.929% 9/11/38		700,000		726,089
•Series 2006-PW13 AJ 5.611% 9/11/41		750,000		776,025
•Series 2007-PW16 AM 5.897% 6/11/40		500,000		548,188


	Principal		Value
	Amount°		(U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
CD Commercial Mortgage Trust
•Series 2005-CD1 E 5.40% 7/15/44		370,000	$	371,754
Series 2006-CD3 AJ 5.688% 10/15/48		500,000		479,823
Citigroup Commercial Mortgage Trust
Series 2006-C5 AJ 5.482% 10/15/49		500,000		482,815
•Series 2007-C6 AM 5.899% 12/10/49		850,000		922,393
Commercial Mortgage Trust
•Series 2006-GG7 AJ 6.014% 7/10/38		700,000		727,591
•Series 2006-GG7 AM 6.014% 7/10/38		260,000		277,700
Series 2007-GG9 A4 5.444% 3/10/39		900,000		969,454
Series 2007-GG9 AM 5.475% 3/10/39		525,000		555,262
#•G-Force Series 2005-RR2 A3FL 144A 0.455% 12/25/39		456,487		432,521
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2004-LN2 A2 5.115% 7/15/41		87,633		88,222
•Series 2005-LDP5 E 5.559% 12/15/44		650,000		654,758
Series 2006-CB17 AM 5.464% 12/12/43		500,000		522,379
•Series 2006-LDP7 AJ 6.058% 4/15/45		750,000		757,240
LB-UBS Commercial Mortgage Trust
#•Series 2004-C7 H 144A 5.344% 10/15/36		700,000		726,839
•Series 2006-C4 AJ 6.049% 6/15/38		750,000		788,147
•Series 2006-C4 AM 6.049% 6/15/38		730,000		784,294
Morgan Stanley Capital I Trust
•Series 2007-HQ11 A1A 5.422% 2/12/44		940,644		998,465
•Series 2007-IQ16 AM 6.293% 12/12/49		500,000		554,806
•Series 2007-IQ16 AMA 6.289% 12/12/49		700,000		773,563
#•Resource Capital Series 2014-CRE2 A 144A 1.204% 4/15/32		355,000		355,000
•Talisman-6 Finance Series 6 A 0.382% 10/22/16		EUR 411,477		509,991
Wachovia Bank Commercial Mortgage Trust
•Series 2005-C17 B 5.287% 3/15/42		350,000		355,413


	Principal		Value
	Amount°		(U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Wachovia Bank Commercial Mortgage Trust (continued)
•Series 2006-C23 AJ 5.515% 1/15/45		650,000	$	678,399
•Series 2006-C28 AM 5.603% 10/15/48		800,000		860,814
#•Series 2007-WHL8 A2 144A 0.294% 6/15/20		713,299		699,989


Total Commercial Mortgage-Backed Securities (Cost $19,109,297)				18,887,077


COLLATERALIZED DEBT OBLIGATIONS–0.70%
•Anthracite CDO I Series 2005-HY2X A 0.524% 7/26/45		426,621		422,355
#•Anthracite CDO III Series 2004-1A BFL 144A 0.704% 3/23/39		190,689		188,782
#•Arbor Realty Mortgage Securities Series 2004-1A A 144A 0.684% 2/21/40		302,692		297,395
#•ARES CLO Series 2007-3RA B 144A 0.603% 4/16/21		1,000,000		947,500
#•ARES XI CLO Series 2007-11A A1C 144A 0.504% 10/11/21		457,439		450,532
#•Babson CLO Series 2007-1A A1 144A 0.459% 1/18/21		804,189		798,881
#•Bridgeport CLO Series 2006-1A B 144A 0.884% 7/21/20		1,000,000		946,700
#•Catamaran CLO Series 2014-2A B 144A 3.233% 10/18/26		606,600		591,192
#•Cent CDO 15 Series 2007-15A A2B 144A 0.575% 3/11/21		1,000,000		931,400
#•Centerline REIT Series 2004-RR3 A2 144A 4.76% 9/21/45		705,999		715,487
#•Chatham Light CLO Series 2005-2A A2 144A 0.639% 8/3/19		600,000		596,400
#CREST Series 2003-2A C2 144A 5.709% 12/28/38		93,911		94,821
#•CT CDO IV Series 2006-4A A1 144A 0.464% 10/20/43		610,616		599,930
Eaton Vance CLO
#•Series 2014-1A B 144A 2.285% 7/15/26		200,800		198,270
#•Series 2014-1A C 144A 3.235% 7/15/26		171,300		168,439
#•Fairfield Street Solar Series 2004-1A A1 144A 0.588% 11/28/39		297,908		282,616


	Principal		Value
	Amount°		(U.S. $)

COLLATERALIZED DEBT OBLIGATIONS (continued)
#•Newcastle CDO V Series 2004-5A 1 144A 0.576% 12/24/39		35,484	$	34,597
#•N-Star REL IV CDO Series 2005-4A A 144A 0.502% 7/27/40		238,842		234,065
#•N-Star REL VI CDO Series 2006-6A A1 144A 0.565% 6/16/41		659,967		605,652
West CLO
#•Series 2014-1A A2 144A 2.333% 7/18/26		310,000		310,000
#•Series 2014-1A B 144A 3.083% 7/18/26		830,000		810,744


Total Collateralized Debt Obligations (Cost $10,270,832)				10,225,758


DCORPORATE BONDS–5.94%
Australia–0.12%
Australia & New Zealand Banking Group 1.25% 1/10/17		1,500,000		1,502,427
#FMG Resources August 2006 144A 6.875% 2/1/18		300,000		309,000


				1,811,427

British Virgin Islands–0.07%
#Sinopec Group Overseas Development 2014 144A 1.75% 4/10/17		800,000		798,400
#State Grid Overseas Investment 2014 144A 2.75% 5/7/19		300,000		300,946


				1,099,346

Canada–0.08%
CNOOC Nexen Finance 2014 ULC 1.625% 4/30/17		1,100,000		1,100,997

				1,100,997

Cayman Islands–0.02%
#•Seven & Seven 144A 1.395% 9/11/19		300,000		299,714


				299,714

China–0.14%
#•CNPC General Capital 144A 1.133% 5/14/17		1,000,000		1,002,945
#Export-Import Bank of China 144A 2.50% 7/31/19		1,000,000		991,083


				1,994,028

France–0.14%
#Electricite de France 144A 2.15% 1/22/19		1,000,000		998,234


	Principal		Value
	Amount°		(U.S. $)

DCORPORATE BONDS (continued)
France (continued)
Orange 2.75% 2/6/19		1,000,000	$	1,012,973


				2,011,207

Germany–0.46%
KFW 2.05% 2/16/26	JPY	640,000,000		6,792,596


				6,792,596

Ireland–0.12%
Bank of Ireland Mortgage Bank
2.75% 3/22/18	EUR	500,000		682,876
Depfa ACS Bank
1.65% 12/20/16	JPY	120,000,000		1,109,035


				1,791,911

Italy–0.27%
Banca Monte dei Paschi di Siena 2.875% 4/16/21	EUR	400,000		551,176
Banco Popolare 3.625% 3/31/17	EUR	600,000		813,200
Intesa Sanpaolo
•0.348% 5/18/17	EUR	200,000		250,170
•1.709% 7/29/15	EUR	500,000		637,960
2.375% 1/13/17		200,000		202,334
UniCredit
•1.153% 4/10/17	EUR	300,000		382,590
•1.756% 7/24/15	EUR	500,000		638,238
3.375% 10/31/17	EUR	300,000		414,025


				3,889,693

Luxembourg–0.02%
ArcelorMittal 6.125% 6/1/18		300,000		318,750


				318,750

Mexico–0.07%
#Cemex 144A 9.00% 1/11/18		300,000		318,000
Coca-Cola Femsa 2.375% 11/26/18		700,000		704,729


				1,022,729

Netherlands–0.12%
#•ING Bank 144A 0.925% 10/1/19		1,000,000		1,000,244
•Petrobras Global Finance 3.115% 3/17/20		700,000		714,840


				1,715,084

Portugal–0.02%
Banco Comercial Portugues 4.75% 6/22/17	EUR	200,000		277,988


				277,988

Republic of Korea–0.15%
•Export-Import Bank of Korea 0.984% 1/14/17		1,500,000		1,510,007
#Woori Bank 144A 4.75% 4/30/24		650,000		658,694


				2,168,701


	Principal		Value
	Amount°		(U.S. $)

DCORPORATE BONDS (continued)
South Africa–0.01%
#Edcon Property 144A 9.50% 3/1/18	EUR	150,000	$	159,151


				159,151

Sweden–0.05%
•Svenska Handelsbanken 0.725% 6/17/19		700,000		704,375


				704,375

Switzerland–0.04%
•Credit Suisse 0.725% 5/26/17		600,000		602,437


				602,437

United Kingdom–0.29%
•Barclays Bank 0.811% 2/17/17		1,300,000		1,305,973
•BP Capital Markets 0.773% 5/10/19		1,000,000		1,003,842
#Petrofac 144A 3.40% 10/10/18		600,000		617,248
Royal Bank of Scotland 6.934% 4/9/18	EUR	200,000		290,789
•Yorkshire Building Society 2.315% 3/23/16	GBP	641,000		1,061,404


				4,279,256

United States–3.75%
AbbVie 1.75% 11/6/17		1,000,000		997,337
American Express Credit 1.55% 9/22/17		500,000		500,017
American Tower 3.40% 2/15/19		500,000		511,351
•Amgen 0.835% 5/22/19		1,000,000		1,006,603
•Apple 0.489% 5/3/18		1,000,000		1,002,340
Bank of America •1.274% 1/15/19		1,000,000		1,015,319
2.65% 4/1/19		700,000		698,589
BB&T 1.60% 8/15/17		1,300,000		1,304,451
Capital One Bank USA 2.30% 6/5/19		800,000		794,653
Celgene 1.90% 8/15/17		1,000,000		1,008,119
Chesapeake Energy •3.484% 4/15/19		100,000		100,500
7.25% 12/15/18		300,000		343,500
CIT Group
3.875% 2/19/19		300,000		295,500
5.25% 3/15/18		400,000		413,000
Citigroup
0.502% 6/9/16		1,000,000		994,990
•1.002% 4/8/19		200,000		201,016
CVS Health 1.20% 12/5/16		1,000,000		1,001,971
Dell 3.10% 4/1/16		1,500,000		1,515,000
DIRECTV Holdings
2.40% 3/15/17		1,000,000		1,022,932
DISH DBS 7.125% 2/1/16		2,500,000		2,656,250


	Principal		Value
	Amount°		(U.S. $)

DCORPORATE BONDS (continued)
United States (continued)
Dominion Resources 1.40% 9/15/17		1,000,000	$	993,720
DPL 6.50% 10/15/16		2,000,000		2,125,000
Duke Energy 2.10% 6/15/18		1,000,000		1,008,293
Eastman Chemical 2.40% 6/1/17		1,000,000		1,021,045
EnLink Midstream Partners 2.70% 4/1/19		300,000		302,160
Enterprise Products Operating 3.20% 2/1/16		1,000,000		1,032,602
Ford Motor Credit •0.753% 9/8/17		200,000		200,375
1.50% 1/17/17		1,000,000		998,900
Gilead Sciences 3.05% 12/1/16		1,000,000		1,042,223
#Glencore Funding 144A 3.125% 4/29/19		500,000		501,375
•Goldman Sachs Group 1.334% 11/15/18		1,000,000		1,018,381
#Hyundai Capital America 144A 1.45% 2/6/17		1,000,000		999,853
•JPMorgan Chase 1.134% 1/25/18		1,200,000		1,222,668
KB Home 4.75% 5/15/19		100,000		97,500
#Kinder Morgan Finance 144A 6.00% 1/15/18		300,000		328,125
Kraft Foods Group 2.25% 6/5/17		1,000,000		1,019,332
•Kroger 0.763% 10/17/16		1,000,000		1,003,352
Linn Energy 6.50% 5/15/19		100,000		98,500
Lorillard Tobacco 2.30% 8/21/17		1,000,000		1,012,587
#Metropolitan Life Global Funding I 144A 1.30% 4/10/17		1,000,000		999,041
MGM Resorts International 8.625% 2/1/19		300,000		339,780
•Mondelez International 0.76% 2/1/19		1,000,000		1,000,642
•Morgan Stanley 1.083% 1/24/19		1,000,000		1,012,486
Navient 5.50% 1/15/19		300,000		306,750
#•NBCUniversal Enterprise 144A 0.919% 4/15/18		1,000,000		1,010,933
#New York Life Global Funding 144A 2.10% 1/2/19		1,000,000		1,000,114
#NGL Energy Partners 144A 5.125% 7/15/19		200,000		196,250
Oracle 1.20% 10/15/17		1,000,000		993,231
PACTIV 8.125% 6/15/17		1,000,000		1,095,000
Peabody Energy 6.00% 11/15/18		400,000		394,000
PPL Energy Supply 6.20% 5/15/16		2,000,000		2,125,196
#Prudential Covered Trust 2012-1 144A 2.997% 9/30/15		1,200,000		1,225,250
Regions Financial 2.00% 5/15/18		1,000,000		989,050


	Principal		Value
	Amount°		(U.S. $)

DCORPORATE BONDS (continued)
United States (continued)
Reynolds Group Issuer 9.00% 4/15/19		300,000	$	313,875
Sempra Energy 2.30% 4/1/17		1,000,000		1,021,274
#Simon Property Group 144A 1.50% 2/1/18		1,000,000		989,958
Southern 1.30% 8/15/17		1,000,000		995,833
#Sprint Nextel 144A 9.00% 11/15/18		400,000		463,000
Sysco 1.45% 10/2/17		900,000		901,876
#Tenet Healthcare 144A 5.00% 3/1/19		100,000		99,000
Time Warner 2.10% 6/1/19		500,000		491,959
Tyson Foods 2.65% 8/15/19		500,000		501,496
Verizon Communications 1.10% 11/1/17		1,000,000		987,114
Viacom 2.50% 9/1/18		600,000		608,105
•Wells Fargo 0.863% 4/23/18		1,400,000		1,415,056


				54,885,698


Total Corporate Bonds (Cost $87,799,024)				86,925,088


MUNICIPAL BONDS–0.06%
University of California
•Series Y-1 0.652% 7/1/41		785,000		788,109
•Series Y-2 0.752% 7/1/41		40,000		40,158


Total Municipal Bonds (Cost $825,000)				828,267

NON-AGENCY ASSET-BACKED SECURITIES–1.82%
American Express Credit Account Master Trust
•Series 2005-2 A 0.254% 10/16/17		100,000		99,963
•Series 2008-6 A 1.354% 2/15/18		930,000		937,652
•Series 2012-1 A 0.424% 1/15/20		1,310,000		1,311,102
•Series 2012-3 A 0.304% 3/15/18		260,000		260,093
#•American Homes 4 Rent Series 2014-SFR1 A 144A 1.25% 6/17/31		328,527		326,552
#•American Residential Properties Trust Series 2014-SFR1 B 144A 1.904% 9/17/31		1,000,000		992,981
•BA Credit Card Trust Series 2014-A2 A 0.424% 9/16/19		1,000,000		1,000,977
Capital One Multi-Asset Execution Trust
•Series 2007-A1 A1 0.204% 11/15/19		1,240,000		1,234,012


	Principal		Value
	Amount°		(U.S. $)

NON-AGENCY ASSET-BACKED SECURITIES (continued)
Capital One Multi-Asset Execution Trust (continued)
•Series 2007-A2 A2 0.234% 12/16/19		1,230,000	$	1,224,448
Chase Issuance Trust
•Series 2007-A2 A2 0.204% 4/15/19		1,290,000		1,282,692
•Series 2007-A8 A 0.174% 3/15/17		650,000		649,669
•Series 2007-B1 B1 0.404% 4/15/19		1,000,000		995,495
•Series 2007-C1 C1 0.614% 4/15/19		400,000		397,422
•Series 2012-A6 A 0.284% 8/15/17		1,100,000		1,099,804
•Series 2012-A9 A9 0.304% 10/16/17		600,000		600,569
•Series 2013-A3 A3 0.434% 4/15/20		653,000		652,442
•Series 2014-A3 A3 0.354% 5/15/18		1,280,000		1,279,579
•Series 2014-A5 A5 0.524% 4/15/21		750,000		751,414
Citibank Credit Card Issuance Trust
Series 2003-A7 A7 4.15% 7/7/17		500,000		514,227
•Series 2008-A6 A6 1.354% 5/22/17		600,000		603,939
•Series 2013-A1 A1 0.255% 4/24/17		1,200,000		1,199,520
•Series 2013-A11 A11 0.392% 2/7/18		1,000,000		1,000,825
•Series 2013-A12 A12 0.467% 11/7/18		660,000		660,902
•Series 2014-A3 A3 0.353% 5/9/18		230,000		230,000
#•Colony American Homes Series 2014-1A A 144A 144A 1.40% 5/17/31		287,654		288,051
#•CountryPlace Manufactured Housing Contract Trust Series 2005-1 A3 144A 144A 4.80% 12/15/35		106,969		109,526
Discover Card Execution Note Trust Series 2012-A3 A3 0.86% 11/15/17		630,000		631,680
•Series 2012-A5 A5 0.354% 1/16/18		1,300,000		1,300,000
•Series 2013-A6 A6 0.604% 4/15/21		580,000		581,639


	Principal		Value
	Amount°		(U.S. $)

NON-AGENCY ASSET-BACKED SECURITIES (continued)
Discover Card Execution Note Trust (continued)
•Series 2014-A1 A1 0.584% 7/15/21		800,000	$	801,377
Ford Credit Auto Owner Trust Series 2012-D A3 0.51% 4/15/17		651,342		651,670
#•Invitation Homes Trust Series 2014-SFR2 B 144A 1.754% 9/17/31		740,000		731,385
Mercedes-Benz Auto Lease Trust Series 2013-A A4 0.72% 12/17/18		1,000,000		1,001,211
•¿Park Place Securities Asset-Backed Pass Through Certifcates Series 2004-WHQ2 M2 1.10% 2/25/35		69,542		69,858
•RAAC Trust Series 2004-SP1 AII 0.855% 3/25/34		438,826		417,820
Silver Bay Realty Trust
#•Series 2014-1 A 144A 1.154% 9/17/31		129,459		128,533
#•Series 2014-1 B 144A 1.604% 9/17/31		100,000		97,987
#•Trade MAPS 1 Series 2013-1A A 144A 144A 0.854% 12/10/18		500,000		501,353


Total Non-Agency Asset-Backed Securities (Cost $26,622,706)				26,618,369


NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.81%
•Bear Stearns Alternative A Trust Series 2004-10 1A3 1.155% 9/25/34		528,469		529,258
CHL Mortgage Pass Through Trust
•¿Series 2004-6 1A1 2.458% 5/25/34		483,902		485,201
•¿Series 2004-11 2A1 2.059% 7/25/34		183,175		182,492
•Credit Suisse First Boston Mortgage Securities Series 2003-AR9 3M1 1.655% 3/25/33		410,711		408,016
•First Horizon Alternative Mortgage Securities Trust Series 2004-AA5 2A1 2.088% 12/25/34		515,402		504,817
•HarborView Mortgage Loan Trust Series 2004-1 3A 2.187% 4/19/34		491,285		493,288
•Impac Secured Assets CMN Owner Trust Series 2004-4 M1 0.665% 2/25/35		100,000		93,274
•IndyMac INDX Mortgage Loan Trust Series 2005-AR1 1A1 2.477% 3/25/35		618,093		616,858


	Principal		Value
	Amount°		(U.S. $)

NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
•JPMorgan Mortgage Trust Series 2004-A1 5A1 2.622% 2/25/34		594,514	$	593,415
#•Kildare Securities Series 2007-1A A2 144A 144A 0.354% 12/10/43		411,986		409,889
Morgan Stanley Mortgage Loan Trust
•Series 2004-8AR 4A2 2.429% 10/25/34		570,678		571,940
•Series 2004-10AR 2A2 2.461% 11/25/34		522,402		536,799
•New York Mortgage Trust Series 2005-3 M1 0.605% 2/25/36		53,599		49,052
Sequoia Mortgage Trust
•Series 2003-4 1A1 0.774% 7/20/33		781,523		737,302
•Series 2004-10 A2 0.474% 11/20/34		628,220		601,306
Structured Asset Mortgage Investments II Trust
•Series 2003-AR4 A1 0.853% 1/19/34		504,907		491,414
•Series 2004-AR6 A1A 0.853% 2/19/35		522,728		492,671
•Structured Asset Mortgage Investments Trust Series 2003-AR1 A1 0.893% 10/19/33		600,762		568,993
•Thornburg Mortgage Securities Trust Series 2007-4 1A1 2.178% 9/25/37		510,975		505,210
Washington Mutual Mortgage Pass Through Certificates Trust
•¿Series 2005-AR2 1A1A 0.485% 1/25/45		478,208		451,785
•¿Series 2005-AR8 2AB2 0.575% 7/25/45		205,326		190,898
•¿Series 2005-AR19 A1A1 0.425% 12/25/45		540,356		517,415
Wells Fargo Mortgage-Backed Securities Trust
•Series 2003-L 1A2 2.49% 11/25/33		432,723		434,288
•Series 2003-O 1A2 2.49% 1/25/34		190,649		192,503
•Series 2004-I 2A1 2.597% 7/25/34		222,634		223,360
•Series 2004-X 1A1 2.615% 11/25/34		259,189		260,023
•Series 2005-AR9 2A2 2.595% 10/25/33		670,482		666,519


Total Non-Agency Collateralized Mortgage Obligations (Cost $11,714,871)				11,807,986


	Principal		Value
	Amount°		(U.S. $)

«SENIOR SECURED LOANS–1.12%
24 Hour Fitness Tranche B 1st Lien 4.75% 5/21/21		162,442	$	161,833
Appvion Tranche B 1st Lien 5.75% 6/28/19		139,426		139,077
Autoparts Holdings 1st Lien 6.50% 7/5/17		296,684		297,286
Axalta Coating Systems US Holdings 1st Lien 4.00% 2/1/20		265,811		261,021
AZ Chem US Tranche B 1st Lien 4.50% 6/10/21		242,868		242,973
BJ’s Wholesale Club Tranche B 1st Lien 4.50% 9/26/19		289,332		285,398
BMC Software 1st Lien 5.00% 8/9/20		774,146		762,534
Cannery Casino Resorts Tranche B 1st Lien 6.00% 10/2/18		251,847		250,746
CITGO Pretroleum Tranche B 4.50% 7/23/21		25,400		25,411
Clubborp Tranche B 1st Lien 4.50% 7/24/20		36,200		35,944
Community Health Systems Tranche D 4.25% 1/27/21		305,066		304,554
Connolly Tranche 1st Lien 5.00% 5/9/21		227,882		227,503
Crowne Group Tranche B 1st Lien 6.00% 9/29/20		224,700		223,577
Cyanco Intermediate 5.50% 4/29/20		324,511		324,105
DaVita Healthcare Partners Tranche B 3.50% 6/19/21		156,656		155,158
Del Monte Tranche B 3.50% 2/24/20		276,729		266,583
Dell Tranche B 4.50% 3/24/20		350,000		348,070
Diamond Reports 1st Lien 5.50% 4/25/21		81,419		81,419
Doncasters Group Tranche B 1st Lien 4.50% 4/9/20		39,599		39,402
Exopack Tranche B 1st Lien 5.25% 4/24/19		314,409		316,374
FGI Operating Tranche B 5.50% 4/2/19		810,784		810,784
Fitness International Tranche B 1st Lien 5.50% 6/10/20		427,056		423,853
Grede Holdings Tranche B 1st Lien 4.75% 5/21/21		111,981		111,830
Guggenheim Partners Tranche B 4.25% 7/22/20		55,959		55,656
Harbor Freight Tools 4.75% 7/25/19		394,019		393,977
Henniges Automotive Tranche B 1st Lien 6.00% 6/11/21		147,413		149,256


	Principal		Value
	Amount°		(U.S. $)

«SENIOR SECURED LOANS (continued)
HHI Holdings 1st Lien 5.00% 10/5/18		18,585	$	18,578
IMG Worldwide Tranche B 5.25% 3/21/21		856,700		845,991
Interactive Data 1st Lien 4.75% 4/24/21		341,996		340,980
M/A-COM Tech Solutions Tranche B 4.50% 4/14/21		76,808		77,048
MacDermid 4.00% 6/7/20		226,892		223,603
Men’s Wearhouse Tranche B 1st Lien 4.50% 4/16/21		172,822		172,101
Milennium Labs Tranche B 1st Lien 5.25% 4/15/21		461,617		461,040
Moneygram International Tranche B 1st Lien 4.25% 3/28/20		586,203		576,862
Ocean Rig (Drillship) Tranche B 1st Lien 5.50% 7/18/21		234,200		227,759
OCI Beaumont Tranche B3 1st Lien 5.00% 8/20/19		608,298		610,579
Onsite Rental Group Tranche B 1st Lien 5.50% 7/30/21		64,800		63,990
Overseas Shipholding Tranche B - Exit
5.25% 7/8/19		135,693		135,241
5.75% 7/8/19		340,881		340,028
Oxbow Carbon & Minerals Tranche B 1st Lien 4.25% 7/19/19		138,193		138,150
Party City Tranche B 1st Lien 4.00% 7/27/19		87,645		86,315
Penney (J.C.) 1st Lien 5.00% 6/14/19		82,746		82,255
Presidio Tranche B 5.00% 3/31/17		92,568		92,684
Radio One 7.50% 3/7/16		17,419		17,713
Savers Tranche C 5.00% 10/3/19		200,048		197,548
Sears Tranche B 5.50% 6/30/18		499,474		487,456
Signode Industrial Group Tranche B 1st Lien 4.00% 3/21/21		152,144		149,767
SunGard Availability Services Capital Tranche B 1st Lien 6.00% 3/27/19		405,826		376,606
Surgery Center Holdings 1st Lien 5.25% 7/24/20		4,700		4,694
TGI Friday’s 1st Lien 5.25% 6/20/20		112,119		111,979
TIP Trailer Services Tranche C 6.50% 10/23/20		1,333,983		1,337,059
Trans Union Tranche B 1.00% 3/21/21		346,652		341,778


	Principal		Value
	Amount°		(U.S. $)

«SENIOR SECURED LOANS (continued)
TransDigm Tranche C 3.75% 2/7/20		91,161	$	89,770
TransDigm Tranche D 1st Lien 3.75% 5/21/21		94,364		92,850
Travelport Finance Luxembourg Sarl Tranche B 1st Lien 6.00% 8/15/21		163,467		163,584
Tronox Pigments 4.50% 2/26/20		129,450		128,681
Truven Health Analytics Tranche B 4.50% 5/23/19		346,575		340,510
UCI International Tranche B 5.50% 7/4/17		79,259		79,408
Univar Tranche B 5.00% 6/30/17		60,399		59,858
US Renal Care 4.25% 7/3/19		890,483		881,858
Utex Industries Tranche B 5.00% 5/16/21		164,602		164,293
Wayne Fueling Systems 1st Lien 4.75% 6/19/21		230,123		228,829
WireCo WorldGroup 6.00% 2/28/17		6,003		6,045
Worldpay Tranche B 1st Lien 4.24% 11/30/19		32,052		32,310


Total Senior Secured Loans (Cost $16,654,728)				16,480,124

DSOVEREIGN BONDS–52.27%
Austria–0.77%
Republic of Austria 6.25% 7/15/27	EUR	5,700,000		11,321,610


				11,321,610

Brazil–1.49%
Brazil Letras do Tesouro Nacional
≠0.501% 1/1/16	BRL	7,860,000		2,783,231
≠2.267% 1/1/17	BRL	14,140,000		4,437,946
≠9.907% 1/1/15	BRL	318,000		126,446
≠11.133% 10/1/15	BRL	530,000		193,447
≠11.269% 7/1/16	BRL	160,000		53,348
≠11.307% 10/1/16	BRL	500,000		161,587
≠12.256% 1/1/18	BRL	8,530,000		2,377,954
Brazil Notas do Tesouro Nacional Series B
6.00% 5/15/15	BRL	146,500		1,537,726
6.00% 8/15/18	BRL	100,000		102,487
6.00% 8/15/22	BRL	427,000		4,329,522
6.00% 5/15/45	BRL	50,000		504,183
Brazil Notas do Tesouro Nacional Series F
10.00% 1/1/17	BRL	3,000,000		1,172,058
10.00% 1/1/21	BRL	2,800,000		1,029,963
10.00% 1/1/23	BRL	8,250,000		2,983,901


				21,793,799


	Principal		Value
	Amount°		(U.S. $)

DSOVEREIGN BONDS (continued)
Canada–2.98%
Canada Government International Bond
3.50% 1/13/20	EUR	16,300,000	$	24,095,168
Canadian Government
1.00% 11/1/14	CAD	3,240,000		2,893,071
1.00% 2/1/15	CAD	7,654,000		6,834,912
1.50% 8/1/15	CAD	1,085,000		972,862
2.00% 12/1/14	CAD	2,782,000		2,488,485
Canadian Treasury Bills
≠0.909% 12/4/14	CAD	390,000		347,702
≠0.919% 10/23/14	CAD	1,050,000		937,096
≠0.944% 11/6/14	CAD	5,610,000		5,004,991


				43,574,287

Finland–1.34%
Finnish Government
#144A 3.50% 4/15/21	EUR	4,550,000		6,838,790
#144A 4.25% 7/4/15	EUR	9,800,000		12,780,467


				19,619,257

France–0.52%
France O.A.T. 2.25% 10/25/22	EUR	5,500,000		7,679,651


				7,679,651

Germany–2.81%
Bundesobligation 0.50% 2/23/18	EUR	1,500,000		1,928,841
Bundesrepublik Deutschland
1.75% 7/4/22	EUR	4,500,000		6,192,607
4.25% 7/4/39	EUR	5,900,000		11,087,159
Deutschland Republic
3.25% 7/4/21	EUR	8,000,000		12,032,937
3.50% 7/4/19	EUR	6,700,000		9,829,473


				41,071,017

Hungary–2.39%
Hungary Government
4.00% 4/25/18	HUF	35,650,000		148,944
5.50% 2/12/16	HUF	230,900,000		988,058
5.50% 12/22/16	HUF	134,120,000		585,168
5.50% 12/20/18	HUF	44,780,000		197,306
5.50% 6/24/25	HUF	933,240,000		4,067,952
6.00% 11/24/23	HUF	289,820,000		1,308,181
6.50% 6/24/19	HUF	461,600,000		2,107,902
6.75% 2/24/17	HUF	1,145,000,000		5,106,850
6.75% 11/24/17	HUF	183,690,000		836,660
7.00% 6/24/22	HUF	370,680,000		1,766,635
7.50% 11/12/20	HUF	31,620,000		153,169
7.75% 8/24/15	HUF	56,580,000		242,175
8.00% 2/12/15	HUF	26,700,000		110,910
Hungary Government International Bonds
3.875% 2/24/20	EUR	490,000		671,713
4.125% 2/19/18		2,510,000		2,599,431
4.375% 7/4/17	EUR	470,000		639,369


	Principal		Value
	Amount°		(U.S. $)

DSOVEREIGN BONDS (continued)
Hungary (continued)
Hungary Government International Bonds (continued)
5.375% 2/21/23		4,640,000	$	4,918,400
5.75% 6/11/18	EUR	500,000		720,415
6.00% 1/11/19	EUR	200,000		295,212
6.25% 1/29/20		4,182,000		4,668,158
6.375% 3/29/21		2,580,000		2,908,950


				35,041,558

Iceland–0.07%
#Republic of Iceland 144A
5.875% 5/11/22		950,000		1,071,767


				1,071,767

Indonesia–0.41%
Indonesia Government
8.25% 7/15/21	IDR	590,000,000		48,095
10.00% 9/15/24	IDR	25,030,000,000		2,263,942
10.00% 2/15/28	IDR	7,040,000,000		647,058
11.00% 11/15/20	IDR	233,000,000		21,579
12.80% 6/15/21	IDR	29,990,000,000		3,013,312


				5,993,986

Ireland–2.31%
Irish Government
4.50% 10/18/18	EUR	176,000		259,631
4.50% 4/18/20	EUR	2,446,000		3,725,321
5.00% 10/18/20	EUR	9,009,000		14,224,653
5.40% 3/13/25	EUR	7,191,700		12,109,662
5.90% 10/18/19	EUR	2,137,000		3,423,770


				33,743,037

Japan–3.57%
Japan Government 10 Yr Bonds
1.70% 12/20/16	JPY	700,000,000		6,612,164
1.70% 3/20/17	JPY	700,000,000		6,636,911
1.90% 6/20/16	JPY	1,350,000,000		12,696,475
Japan Government 20 Yr Bonds
1.50% 3/20/34	JPY	1,900,000,000		17,886,525
1.90% 3/22/21	JPY	370,000,000		3,733,527
Japan Government 30 Yr Bond
1.70% 9/20/44	JPY	500,000,000		4,641,905


				52,207,507

Malaysia–3.26%
Bank Negara Malaysia Monetary Notes
≠2.876% 11/6/14	MYR	1,060,000		322,140
≠2.895% 10/2/14	MYR	1,365,000		416,121
≠2.895% 10/16/14	MYR	3,010,000		916,462
≠2.90% 12/16/14	MYR	530,000		160,497
≠2.927% 11/18/14	MYR	690,000		209,472
≠2.943% 10/28/14	MYR	8,895,000		2,705,406
≠2.951% 10/9/14	MYR	420,000		127,958


	Principal		Value
	Amount°		(U.S. $)

DSOVEREIGN BONDS (continued)
Malaysia (continued)
Bank Negara Malaysia Monetary Notes (continued)
≠3.002% 5/19/15	MYR	9,595,000	$	2,864,973
≠3.03% 12/4/14	MYR	14,650,000		4,441,143
≠3.04% 1/22/15	MYR	1,540,000		464,811
≠3.04% 3/3/15	MYR	15,740,000		4,733,479
≠3.042% 7/16/15	MYR	2,420,000		718,639
≠3.05% 8/4/15	MYR	990,000		293,246
≠3.073% 4/16/15	MYR	800,000		239,609
≠3.076% 4/28/15	MYR	1,480,000		442,782
≠3.103% 6/16/15	MYR	18,560,000		5,527,253
≠3.117% 6/3/15	MYR	1,280,000		381,657
≠3.13% 1/8/15	MYR	310,000		93,683
≠3.139% 6/30/15	MYR	3,410,000		1,014,168
≠3.167% 8/11/15	MYR	13,220,000		3,916,276
≠3.20% 8/18/15	MYR	160,000		47,368
Malaysian Government
3.172% 7/15/16	MYR	6,300,000		1,915,938
3.197% 10/15/15	MYR	4,675,000		1,422,791
3.741% 2/27/15	MYR	7,805,000		2,383,214
3.835% 8/12/15	MYR	12,305,000		3,767,176
4.72% 9/30/15	MYR	26,319,000		8,138,982


				47,665,244

Mexico–3.66%
Mexican Bonos
6.00% 6/18/15	MXN	11,371,000		866,014
6.25% 6/16/16	MXN	12,770,000		994,435
6.50% 6/10/21	MXN	91,000,000		7,101,213
7.25% 12/15/16	MXN	122,322,000		9,726,694
7.50% 6/3/27	MXN	79,700,000		6,505,659
7.75% 12/14/17	MXN	24,000,000		1,951,712
8.00% 12/17/15	MXN	48,029,000		3,775,900
8.50% 12/13/18	MXN	77,500,000		6,520,973
9.50% 12/18/14	MXN	36,690,000		2,772,852
Mexican Cetes
≠3.035% 12/24/14	MXN	211,077,000		1,561,382
≠3.093% 5/28/15	MXN	225,562,000		1,646,925
≠3.604% 4/1/15	MXN	256,070,000		1,878,813
≠3.689% 10/16/14	MXN	366,704,000		2,727,774
≠3.70% 12/11/14	MXN	466,730,000		3,456,117
Mexican Udibonos
2.50% 12/10/20	MXN	3,879,633		294,520
3.50% 12/14/17	MXN	7,101,437		572,537
4.00% 6/13/19	MXN	4,925,942		406,731
4.50% 12/18/14	MXN	2,773,238		209,994
5.00% 6/16/16	MXN	7,003,022		566,939


				53,537,184

New Zealand–2.08%
New Zealand Government Bonds
5.50% 4/15/23	NZD	10,000,000		8,566,588


	Principal		Value
	Amount°		(U.S. $)

DSOVEREIGN BONDS (continued)
New Zealand (continued)
New Zealand Government Bonds (continued)
6.00% 12/15/17	NZD	15,000,000	$	12,449,104
6.00% 5/15/21	NZD	10,930,000		9,477,334


				30,493,026

Peru–0.01%
Peru Government Soberano
7.84% 8/12/20	PEN	427,000		168,592


				168,592

Philippines–0.25%
Philippine Government Bonds
1.625% 4/25/16	PHP	43,750,000		965,747
7.00% 1/27/16	PHP	10,500,000		248,359
9.125% 9/4/16	PHP	6,310,000		158,402
Philippine Treasury Bills
≠0.136% 11/5/14	PHP	140,000		3,110
≠0.152% 10/8/14	PHP	86,340,000		1,920,405
≠1.196% 4/8/15	PHP	5,680,000		125,217
≠1.276% 8/5/15	PHP	1,360,000		29,804
≠1.427% 7/8/15	PHP	1,800,000		39,519
≠1.492% 9/2/15	PHP	6,110,000		133,632


				3,624,195

Poland–4.78%
Poland Government
•2.69% 1/25/17	PLN	14,308,000		4,331,612
•2.69% 1/25/21	PLN	11,269,000		3,390,648
4.75% 10/25/16	PLN	41,750,000		13,308,377
5.00% 4/25/16	PLN	1,400,000		442,358
5.25% 10/25/17	PLN	19,080,000		6,297,518
5.25% 10/25/20	PLN	25,500,000		8,861,577
5.50% 10/25/19	PLN	28,450,000		9,861,452
5.75% 10/25/21	PLN	63,050,000		22,675,149
Republic of Poland
6.375% 7/15/19		680,000		800,700


				69,969,391

Portugal–0.99%
#Portugal Government International Bond 144A 5.125% 10/15/24		4,530,000		4,697,701
Portugal Obrigacoes do Tesouro OT
#144A 3.875% 2/15/30	EUR	7,500,000		9,626,716
#144A 4.95% 10/25/23	EUR	38,200		55,555
#144A 5.65% 2/15/24	EUR	94,800		144,061


				14,524,033

Republic of Korea–4.55%
Korea Monetary Stabilization Bonds
2.47% 4/2/15	KRW	4,924,870,000		4,675,389
2.74% 2/2/15	KRW	2,121,250,000		2,014,634
2.76% 6/2/15	KRW	16,570,000,000		15,767,330


	Principal Amount°		Value (U.S. $)

DSOVEREIGN BONDS (continued)
Republic of Korea (continued)
Korea Monetary Stabilization Bonds (continued)
2.79% 6/2/16	KRW	1,445,500,000	$	1,382,949
2.80% 8/2/15	KRW	9,507,160,000		9,058,869
2.80% 4/2/16	KRW	1,042,000,000		996,412
2.81% 10/2/15	KRW	142,000,000		135,455
2.84% 12/2/14	KRW	2,725,460,000		2,586,385
2.90% 12/2/15	KRW	13,179,200,000		12,595,090
Korea Treasury Bonds
2.75% 12/10/15	KRW	6,928,300,000		6,608,867
2.75% 6/10/16	KRW	4,452,000,000		4,256,120
3.00% 12/10/16	KRW	4,809,700,000		4,630,333
3.25% 6/10/15	KRW	849,700,000		811,231
4.00% 9/10/15	KRW	661,400,000		637,365
4.00% 3/10/16	KRW	253,600,000		246,410
4.50% 3/10/15	KRW	126,800,000		121,401

				66,524,240

Republic of Lithuania–0.26%
Lithuania Government International Bonds
#144A 6.125% 3/9/21		1,640,000		1,900,350
#144A 6.75% 1/15/15		660,000		672,454
#144A 7.375% 2/11/20		1,060,000		1,282,600

				3,855,404

Republic of Vietnam–0.06%
#Republic of Vietnam 144A 6.75% 1/29/20		760,000		863,550

				863,550

Russia–0.14%
Russian-Eurobond
#144A 7.50% 3/31/30		1,526,150		1,713,454
7.50% 3/31/30		252,175		283,124

				1,996,578

Serbia–0.26%
Republic of Serbia
#144A 4.875% 2/25/20		1,370,000		1,368,288
#144A 5.25% 11/21/17		880,000		908,600
#144A 7.25% 9/28/21		1,390,000		1,555,938

				3,832,826

Singapore–1.47%
Monetary Authority of Singapore
≠0.291% 10/31/14	SGD	18,239,000		14,294,349
≠0.30% 11/14/14	SGD	3,456,000		2,708,245
≠0.32% 11/25/14	SGD	2,020,000		1,582,803
≠0.361% 12/19/14	SGD	1,450,000		1,135,934
Singapore Government Bond 1.125% 4/1/16	SGD	2,310,000		1,827,594

				21,548,925


	Principal Amount°		Value (U.S. $)

DSOVEREIGN BONDS (continued)
Slovenia–0.57%
Slovenia Government International Bonds
#144A 5.50% 10/26/22		4,340,000	$	4,730,600
#144A 5.85% 5/10/23		3,285,000		3,670,988

				8,401,588

Sweden–5.15%
Sweden Government
3.50% 6/1/22	SEK	169,700,000		27,557,078
3.50% 3/30/39	SEK	10,000,000		1,756,687
4.50% 8/12/15	SEK	134,040,000		19,267,036
5.00% 12/1/20	SEK	138,070,000		23,814,009
Sweden Treasury Bills
≠0.12% 10/15/14	SEK	1,520,000		210,627
≠0.12% 3/18/15	SEK	1,340,000		185,586
≠0.133% 12/17/14	SEK	8,480,000		1,174,827
≠0.134% 11/19/14	SEK	10,450,000		1,447,852

				75,413,702

Ukraine–1.28%
Financing of Infrastrucural Projects State Enterprise
#144A 7.40% 4/20/18		200,000		160,040
#144A 8.375% 11/3/17		100,000		82,020
Ukraine Government
#144A 4.95% 10/13/15	EUR	100,000		113,388
#144A 6.25% 6/17/16		1,090,000		944,431
#144A 6.58% 11/21/16		1,028,000		880,431
#144A 6.75% 11/14/17		1,790,000		1,533,045
#144A 7.50% 4/17/23		3,000,000		2,531,850
#144A 7.75% 9/23/20		3,443,000		2,965,972
#144A 7.80% 11/28/22		2,960,000		2,553,592
#144A 7.95% 2/23/21		3,670,000		3,142,438
#144A 9.25% 7/24/17		4,290,000		3,791,288

				18,698,495

United Kingdom–4.84%
United Kingdom Gilt
4.00% 9/7/16	GBP	5,500,000		9,458,226
4.25% 12/7/27	GBP	13,830,000		26,465,961
4.50% 9/7/34	GBP	10,000,000		20,080,630
4.75% 3/7/20	GBP	4,000,000		7,459,770
5.00% 3/7/25	GBP	3,700,000		7,420,032


				70,884,619

Total Sovereign Bonds (Cost $763,119,807)				765,119,068


SUPRANATIONAL BANKS–1.75%
Asian Development Bank 2.35% 6/21/27	JPY	370,000,000		4,041,845


	Principal Amount°		Value (U.S. $)

SUPRANATIONAL BANKS (continued)
European Investment Bank 1.40% 6/20/17	JPY	650,000,000	$	6,156,279
International Bank for Reconstruction & Development 3.50% 11/12/14	SEK	111,000,000		15,433,955


Total Supranational Banks (Cost $27,664,393)				25,632,079


U.S. TREASURY OBLIGATIONS–22.19%
U.S. Treasury Bonds
3.125% 8/15/44		4,000,000		3,936,564
3.625% 8/15/43		9,300,000		10,054,174
U.S. Treasury Notes
0.375% 3/15/15		13,000,000		13,020,059
0.625% 8/15/16		38,000,000		38,058,634
0.625% 5/31/17		31,000,000		30,734,795
0.625% 4/30/18		30,000,000		29,212,500
0.875% 12/31/16		27,500,000		27,576,258
1.00% 8/31/19		30,000,000		28,873,830
1.125% 4/30/20		33,500,000		32,050,087
1.25% 9/30/15		5,000,000		5,055,275
1.625% 6/30/19		15,000,000		14,922,075
1.625% 8/15/22		37,000,000		35,139,899
1.75% 5/15/22		30,000,000		28,848,060
2.50% 5/15/24		10,680,000		10,687,925
4.25% 8/15/15		10,000,000		10,360,940
4.50% 11/15/15		6,000,000		6,290,274


Total U.S. Treasury Obligations (Cost $320,796,219)				324,821,349


	Number of Shares		Value (U.S. $)

MONEY MARKET FUND–8.36%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		122,377,509	$	122,377,509


Total Money Market Fund (Cost $122,377,509)				122,377,509


	Principal Amount°

SHORT-TERM INVESTMENTS–0.34%
≠Discount Note–0.02%
Federal Farm Credit 0.011% 10/1/14		200,000		200,000


				200,000

≠U.S. Treasury Obligations–0.32%
U.S. Treasury Bill 0.38% 10/2/14		4,725,000		4,725,000


				4,725,000


Total Short-Term Investments (Cost $4,924,995)				4,925,000

The following foreign currency exchange contracts, foreign cross currency exchange contracts, futures contracts and swap contracts were outstanding at September 30, 2014:

Foreign Currency Exchange Contracts and Foreign Cross Currency Exchange Contracts

Foreign Currency Exchange Contracts and Foreign Cross Currency Exchange Contracts (continued)

The use of foreign currency exchange contracts, foreign cross currency exchange contracts, futures contracts and swap contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The notional values presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

¹ Notional value shown is stated in U.S. Dollars unless noted that the swap is denominated in another currency.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–41.55%
U.S. MARKETS–34.76%
Aerospace & Defense–0.48%
Boeing		311	$	39,615


				39,615

Banks–2.45%
BB&T		871		32,410
JPMorgan Chase		1,921		115,721
Wells Fargo		1,060		54,982


				203,113

Beverages–0.53%
PepsiCo		475		44,218


				44,218

Capital Markets–1.55%
Ameriprise Financial		406		50,092
Ares Capital		4,873		78,748


				128,840

Chemicals–0.40%
Celanese Class A		570		33,356


				33,356

Commercial Services & Supplies–0.71%
Waste Management		1,248		59,317


				59,317

Communications Equipment–1.14%
Cisco Systems		2,256		56,783
QUALCOMM		507		37,908


				94,691

Consumer Finance–1.42%
Capital One Financial		748		61,052
Navient		3,218		56,991


				118,043

Containers & Packaging–0.58%
Packaging Corp of America		755		48,184


				48,184

Diversified Telecommunication Services–1.71%
AT&T		1,791		63,115
Verizon Communications		1,576		78,784


				141,899

Electric Utilities–2.08%
Edison International		712		39,815
FirstEnergy		2,577		86,510
NextEra Energy		499		46,846


				173,171

Food & Staples Retailing–0.41%
Wal-Mart Stores		450		34,411


				34,411


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Food Products–0.75%
ConAgra Foods		1,897	$	62,677


				62,677

Health Care Providers & Services–0.63%
Cardinal Health		697		52,219


				52,219

Hotels, Restaurants & Leisure–0.39%
Starwood Hotels & Resorts Worldwide		388		32,285


				32,285

Household Products–0.71%
Procter & Gamble		702		58,785


				58,785

Industrial Conglomerates–2.37%
General Electric		7,676		196,659


				196,659

Insurance–2.30%
Everest Re Group		228		36,938
Gallagher (Arthur J.)		1,033		46,857
MetLife		963		51,732
Prudential Financial		631		55,490


				191,017

Media–0.47%
Viacom Class B		507		39,009


				39,009

Multi-Utilities–0.44%
PG&E		803		36,167


				36,167

Oil, Gas & Consumable Fuels–1.29%
Chesapeake Energy		800		18,392
Devon Energy		837		57,067
Exxon Mobil		339		31,883


				107,342

Pharmaceuticals–3.33%
Lilly (Eli)		1,099		71,270
Merck		971		57,561
Pfizer		5,012		148,205


				277,036

Real Estate Investment Trusts–2.35%
AvalonBay Communities		215		30,308
Brixmor Property Group		1,327		29,539
Starwood Property Trust		3,147		69,108
Two Harbors Investment		6,825		65,998


				194,953


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
U.S. MARKETS (continued)
Semiconductors & Semiconductor Equipment–0.74%
Altera		878	$	31,415
Maxim Integrated Products		1,002		30,300


				61,715

Software–1.03%
Microsoft		1,854		85,951


				85,951

Specialty Retail–1.62%
Gap		1,511		62,994
L Brands		1,071		71,736


				134,730

Technology Hardware, Storage & Peripherals–1.74%
Apple		462		46,547
EMC		1,358		39,735
Hewlett-Packard		1,643		58,277


				144,559

Thrifts & Mortgage Finance–0.68%
New York Community Bancorp		3,546		56,275


				56,275

Tobacco–0.46%
Altria Group		823		37,809


				37,809


Total U.S. Markets (Cost $2,828,596)				2,888,046

§DEVELOPED MARKETS–6.79%
Auto Components–0.41%
Nokian Renkaat ADR		2,239		33,771


				33,771

Automobiles–0.39%
Bayerische Motoren Werke ADR		898		32,149


				32,149

Banks–0.56%
Australia & New Zealand Banking Group ADR		1,723		46,633


				46,633

Beverages–0.31%
Anheuser-Busch InBev ADR		235		26,050


				26,050

Communications Equipment–0.44%
Telefonaktiebolaget LM Ericsson ADR		2,895		36,448


				36,448

Diversified Telecommunication Services–0.38%
Telefonica ADR		2,050		31,509


				31,509


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
§DEVELOPED MARKETS (continued)
Insurance–1.44%
Direct Line Insurance Group ADR		2,848	$	54,055
Validus Holdings		986		38,592
†Zurich Insurance Group ADR		899		26,796


				119,443

Oil, Gas & Consumable Fuels–1.24%
Royal Dutch Shell ADR		399		30,376
Total ADR		1,133		73,022


				103,398

Pharmaceuticals–1.05%
Novartis ADR		494		46,500
Sanofi ADR		720		40,630


				87,130

Wireless Telecommunication Services–0.57%
Vodafone Group ADR		1,433		47,131


				47,131


Total Developed Markets (Cost $591,063)				563,662


Total Common Stock (Cost $3,419,659)				3,451,708


CONVERTIBLE PREFERRED STOCK–4.42%

Capital One Financial 6.00% exercise price $25.00, expiration date 12/31/49		1,000		23,390
•Morgan Stanley 6.375% exercise price $25.00, expiration date 12/31/49		837		20,984
Public Storage 5.75% exercise price $25.00, expiration date 12/31/49		1,530		37,516
•SCE Trust III 5.75% exercise price $25.00, expiration date 12/31/49		4,000		105,680
Taubman Centers 6.50% exercise price $25.00, expiration date 12/31/49		1,508		38,017
Verizon Communications 5.90% exercise price $25.00, expiration date 2/15/54		4,000		104,320
Vornado Realty Trust 6.625% exercise price $25.00, expiration date 12/31/49		1,472		37,610


Total Convertible Preferred Stock (Cost $361,340)				367,517


	Number of		Value
	Shares		(U.S. $)

MASTER LIMITED PARTNERSHIP–6.59%
AllianceBernstein Holding		2,605	$	67,756
DCP Midstream Partners		939		51,129
Energy Transfer Partners		1,053		67,381
Enterprise Products Partners		988		39,816
NGL Energy Partners		920		36,220
ONEOK Partners		447		25,014
Plains All American Pipeline		700		41,202
Regency Energy Partners		1,385		45,179
Rose Rock Midstream		215		12,717
Seadrill Partners		1,111		34,652
Spectra Energy Partners		555		29,409
Targa Resources Partners		870		62,945
TC Pipelines		239		16,183
Teekay LNG Partners		413		17,990


Total Master Limited Partnership (Cost $506,790)				547,593


	Principal Amount°

CORPORATE BONDS–45.20%
Beverages–0.58%
#Cott Beverages 144A 5.375% 7/1/22		50,000		48,500


				48,500

Capital Markets–1.63%
Bank of America 7.75% 5/14/38		100,000		135,550


				135,550

Chemicals–1.51%
Ashland 6.875% 5/15/43		50,000		52,375
Hexion US Finance 8.875% 2/1/18		25,000		25,531
#Rayonier AM Products 144A 5.50% 6/1/24		50,000		47,750


				125,656

Commercial Banks–1.87%
•M&T Bank 6.45% 12/29/49		50,000		53,125
•Wells Fargo 5.90% 12/29/49		100,000		102,125


				155,250

Commercial Services & Supplies–2.15%
#Ahern Rentals 144A 9.50% 6/15/18		25,000		26,813
#Ceridian 144A 8.125% 11/15/17		50,000		50,187
#Envision Healthcare 144A 5.125% 7/1/22		50,000		49,375
HD Supply 7.50% 7/15/20		50,000		52,125


				178,500


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Containers & Packaging–0.59%
#Sealed Air 144A 5.25% 4/1/23		50,000	$	49,250


				49,250

Diversified Financial Services–5.80%
•Citigroup 5.90% 12/29/49		150,000		146,625
#•Credit Suisse Group 144A 7.50% 12/11/49		200,000		210,500
•General Electric Capital 5.25% 6/29/49		100,000		100,375
Nationstar Mortgage 6.50% 7/1/21		25,000		23,937


				481,437

Diversified Telecommunication Services–2.21%
Frontier Communications 8.50% 4/15/20		50,000		55,750
Intelsat Luxembourg 7.75% 6/1/21		125,000		127,813


				183,563

Electric Utilities–0.60%
#RJS Power Holdings 144A 5.125% 7/15/19		50,000		49,750


				49,750

Food & Staples Retailing–1.16%
~BI-LO PIK 8.625% 9/15/18		50,000		45,750
Ingles Markets 5.75% 6/15/23		50,000		50,375


				96,125

Food Products–1.14%
#Post Holdings 144A 6.75% 12/1/21		100,000		95,000


				95,000

Health Care Equipment & Supplies–0.55%
#Crimson Merger Sub 144A 6.625% 5/15/22		50,000		45,625


				45,625

Health Care Providers & Services–4.57%
#Amsurg 144A 5.625% 7/15/22		50,000		49,750
#Community Health Systems 144A 6.875% 2/1/22		150,000		156,750
HCA 4.75% 5/1/23		125,000		122,500
#MPH Acquisition Holdings 144A 6.625% 4/1/22		50,000		50,625


				379,625

Hotels, Restaurants & Leisure–3.23%
#BC ULC 144A 6.00% 4/1/22		100,000		99,875
Caesars Entertainment Operating 9.00% 2/15/20		50,000		38,500


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Hotels, Restaurants & Leisure (continued)
MGM Resorts International 6.625% 12/15/21		100,000	$	106,000
#Seminole Hard Rock Entertainment 144A 5.875% 5/15/21		25,000		24,250


				268,625

Household Durables–0.64%
Spectrum Brands 6.625% 11/15/22		50,000		52,750


				52,750

Independent Power Producers & Energy Traders–0.64%
#Calpine 144A 6.00% 1/15/22		50,000		53,125


				53,125

Industrial Conglomerates–2.48%
ADS Waste Holdings 8.25% 10/1/20		100,000		104,750
AECOM Technology
#144A 5.75% 10/15/22		50,000		50,313
#144A 5.875% 10/15/24		50,000		50,563


				205,626

Internet Software & Services–0.60%
Equinix 5.375% 4/1/23		50,000		49,750


				49,750

IT Services–0.96%
#First Data 144A 8.25% 1/15/21		75,000		79,875


				79,875

Media–4.49%
#CBS Outdoor Americas Capital 144A 5.875% 3/15/25		50,000		50,375
#Cequel Communications Holdings I 144A 5.125% 12/15/21		50,000		48,063
GLP Capital 5.375% 11/1/23		25,000		25,625
iHeartMedia
9.00% 12/15/19		50,000		50,563
9.00% 3/1/21		25,000		24,969
#Nielsen Finance 144A 5.00% 4/15/22		50,000		49,125
#Videotron 144A 5.375% 6/15/24		75,000		74,437
#WMG Acquisition 144A 5.625% 4/15/22		50,000		50,125


				373,282

Multiline Retail–0.63%
#Neiman Marcus Group 144A 8.00% 10/15/21		50,000		52,250


				52,250


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels–2.81%
Chaparral Energy 8.25% 9/1/21		50,000	$	53,750
Halcon Resources 8.875% 5/15/21		50,000		49,500
#Kinder Morgan 144A 5.625% 11/15/23		50,000		53,375
MEG Energy
#144A 6.375% 1/30/23		25,000		25,344
#144A 7.00% 3/31/24		50,000		51,875


				233,844

Pharmaceuticals–0.31%
#Valeant Pharmaceuticals International 144A 6.75% 8/15/21		25,000		26,031


				26,031

Software–0.29%
#BMC Software Finance 144A 8.125% 7/15/21		25,000		24,125


				24,125

Specialty Retail–0.62%
Best Buy 5.50% 3/15/21		50,000		51,875


				51,875

Wireless Telecommunication Services–3.14%
Crown Castle International 5.25% 1/15/23		50,000		49,813
#Sprint 144A 7.875% 9/15/23		150,000		159,375
T-Mobile USA 6.625% 4/1/23		50,000		51,375


				260,563


Total Corporate Bonds (Cost $3,839,865)				3,755,552


	Number of Shares

MONEY MARKET FUND–4.45%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		369,474		369,474


Total Money Market Fund (Cost $369,474)				369,474

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

As a result of international fair value pricing at September 30, 2014, a portion of the Fund’s common stock investments were categorized as Level 2.

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–90.37%
Banks–5.61%
†Citizens Financial Group		67,100	$	1,571,482
City National		28,978		2,192,765
Fifth Third Bancorp		217,398		4,352,308
First Republic Bank		37,185		1,836,195
Huntington Bancshares		76,378		743,158
M&T Bank		25,601		3,156,347
SunTrust Banks		92,366		3,512,679
Zions Bancorp		31,651		919,778


				18,284,712

Beverages–1.39%
†Constellation Brands Class A		23,788		2,073,362
Dr Pepper Snapple Group		38,076		2,448,668


				4,522,030

Building Products–0.75%
Fortune Brands Home & Security		59,173		2,432,602


				2,432,602

Capital Markets–4.43%
Ameriprise Financial		31,972		3,944,705
Invesco		79,531		3,139,884
Legg Mason		34,770		1,778,833
Northern Trust		28,696		1,952,189
T. Rowe Price Group		46,494		3,645,130


				14,460,741

Chemicals–4.00%
Airgas		36,716		4,062,625
Albemarle		42,137		2,481,869
Sherwin-Williams		9,765		2,138,437
Sigma-Aldrich		32,021		4,355,176


				13,038,107

Communications Equipment–0.64%
†CommScope Holding		86,899		2,077,755


				2,077,755

Consumer Finance–0.79%
†Ally Financial		111,801		2,587,075


				2,587,075

Containers & Packaging–2.86%
Ball		64,621		4,088,571
Rock-Tenn Class A		53,723		2,556,140
Silgan Holdings		56,782		2,668,754


				9,313,465

Electric Utilities–2.48%
Edison International		45,803		2,561,304
Westar Energy		85,070		2,902,588
Xcel Energy		86,520		2,630,208


				8,094,100


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Electrical Equipment–2.57%
AMETEK		55,623	$	2,792,831
Hubbell Class B		22,792		2,747,120
Regal-Beloit		44,484		2,858,097


				8,398,048

Electronic Equipment, Instruments & Components–2.53%
Amphenol Class A		43,171		4,311,056
†Arrow Electronics		71,266		3,944,573


				8,255,629

Food & Staples Retailing–1.77%
Kroger		75,599		3,931,148
†Rite Aid		379,966		1,839,036


				5,770,184

Food Products–0.82%
Hershey		28,116		2,683,110


				2,683,110

Gas Utilities–1.77%
National Fuel Gas		27,414		1,918,706
Questar		172,825		3,852,269


				5,770,975

Health Care Equipment & Supplies–0.86%
†CareFusion		61,917		2,801,744


				2,801,744

Health Care Providers & Services–4.75%
AmerisourceBergen		42,526		3,287,260
†Brookdale Senior Living		73,288		2,361,339
Cigna		47,873		4,341,602
†Henry Schein		16,177		1,884,135
Humana		27,630		3,599,913


				15,474,249

Hotels, Restaurants & Leisure–1.31%
Marriott International Class A		20,946		1,464,125
Starwood Hotels & Resorts Worldwide		33,786		2,811,333


				4,275,458

Household Durables–2.25%
†Jarden		55,909		3,360,690
†Mohawk Industries		29,434		3,968,292


				7,328,982

Household Products–0.83%
Energizer Holdings		21,963		2,706,061


				2,706,061

Industrial Conglomerates–1.13%
Carlisle		46,002		3,697,641


				3,697,641


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Insurance–8.49%
†Alleghany		4,558	$	1,905,928
Berkley (W.R.)		56,389		2,695,394
Chubb		28,574		2,602,520
Hartford Financial Services Group		83,868		3,124,083
Loews		121,469		5,060,399
Marsh & McLennan		77,645		4,063,939
Old Republic International		95,062		1,357,485
Progressive		52,645		1,330,866
Unum Group		75,890		2,609,098
XL Group		88,130		2,923,272


				27,672,984

Internet & Catalog Retail–1.55%
Expedia		57,670		5,053,045


				5,053,045

IT Services–1.48%
Jack Henry & Associates		75,578		4,206,672
Sabre		34,722		622,045


				4,828,717

Machinery–2.54%
IDEX		46,199		3,343,422
†Rexnord		58,540		1,665,463
Snap-on		26,929		3,260,563


				8,269,448

Media–2.45%
CBS Class B		24,803		1,326,962
Clear Channel Outdoor Holdings
Class A		68,768		463,496
†DISH Network Class A		42,570		2,749,171
Gannett		73,169		2,170,924
†Time		54,889		1,286,049


				7,996,602

Multiline Retail–2.42%
Kohl’s		93,660		5,716,070
Nordstrom		31,783		2,173,004


				7,889,074

Multi-Utilities–4.08%
CenterPoint Energy		122,056		2,986,710
CMS Energy		95,314		2,827,013
NiSource		31,556		1,293,165
Sempra Energy		37,028		3,902,011
Wisconsin Energy		53,207		2,287,901


				13,296,800

Oil, Gas & Consumable Fuels–4.00%
Energen		45,846		3,311,915
EQT		25,933		2,373,907
PBF Energy		54,099		1,298,376
QEP Resources		73,956		2,276,366


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Oil, Gas & Consumable Fuels (continued)
†Southwestern Energy		108,003	$	3,774,705


				13,035,269

Professional Services–1.14%
Equifax		49,558		3,703,965


				3,703,965

Real Estate Investment Trusts–7.08%
American Campus Communities		55,897		2,037,446
AvalonBay Communities		20,760		2,926,537
Brixmor Property Group		67,804		1,509,317
CBS Outdoor Americas		46,827		1,402,000
General Growth Properties		98,584		2,321,653
Kimco Realty		135,144		2,961,005
Rayonier		63,772		1,985,860
Regency Centers		36,093		1,942,886
Vornado Realty Trust		32,192		3,217,912
Weyerhaeuser		87,014		2,772,266


				23,076,882

Real Estate Management & Development–0.23%
Brookfield Property Partners		35,872		755,823


				755,823

Semiconductors & Semiconductor Equipment–3.09%
Analog Devices		74,968		3,710,166
KLA-Tencor		36,132		2,846,479
Xilinx		83,108		3,519,624


				10,076,269

Software–1.02%
†Synopsys		84,247		3,344,185


				3,344,185

Specialty Retail–4.79%
†AutoZone		5,506		2,806,188
†Bed Bath & Beyond		41,442		2,728,127
Best Buy		78,217		2,627,309
Gap		120,690		5,031,566
Tiffany & Co		25,065		2,414,010


				15,607,200

Textiles, Apparel & Luxury Goods–1.24%
PVH		22,038		2,669,904
VF		20,974		1,384,913


				4,054,817

Thrifts & Mortgage Finance–0.38%
Hudson City Bancorp		127,997		1,244,131


				1,244,131

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS–89.21%
Aerospace & Defense–0.85%
#Alliant Techsystems 144A 5.25% 10/1/21		310,000	$	312,325
BE Aerospace
5.25% 4/1/22		456,000		493,620
6.875% 10/1/20		319,000		342,127
Bombardier
#144A 4.75% 4/15/19		453,000		452,434
#144A 6.125% 1/15/23		285,000		286,781
#144A 7.50% 3/15/18		575,000		631,063
#144A 7.75% 3/15/20		112,000		122,662
GenCorp 7.125% 3/15/21		153,000		165,623
#Kratos Defense & Security Solutions 144A 7.00% 5/15/19		455,000		453,863
#Spirit AeroSystems 144A 5.25% 3/15/22		214,000		214,535
TransDigm
#144A 6.00% 7/15/22		1,536,000		1,518,720
#144A 6.50% 7/15/24		461,000		459,847


				5,453,600

Airlines–0.93%
Continental Airlines Pass Through Trust
Series 2012-3 Class C 6.125% 4/29/18		577,000		611,620
¿Series 2003-ERJ1 7.875% 7/2/18		918,942		975,227
¿Series 2004-ERJ1 9.558% 9/1/19		423,963		474,839
¿Series 2005-ERJ1 9.798% 4/1/21		575,118		652,759
Delta Air Lines Pass Through Trust
¿Series 2012-1 Class A 4.75% 5/7/20		143,487		155,324
#¿Series 2012-1 Class B 144A 6.875% 5/7/19		560,642		625,116
¿Northwest Airlines Pass Through Trust 7.027% 11/1/19		784,727		899,454
¿United Airlines Pass Through Trust Series 2007-1 Class A 6.636% 7/2/22		328,079		354,326
¿US Airways Series 2013-1 Class B Pass Through Trust 5.375% 11/15/21		1,225,000		1,267,875


				6,016,540

Auto Components–0.67%
Dana Holding 6.75% 2/15/21		18,000		19,146
Goodyear Tire & Rubber
7.00% 5/15/22		2,338,000		2,516,273
8.25% 8/15/20		400,000		430,000
#Pittsburgh Glass Works 144A 8.00% 11/15/18		641,000		682,665


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Auto Components (continued)
#Poindexter (J.B.) 144A 9.00% 4/1/22		609,000	$	656,959


				4,305,043

Automobiles–1.60%
Chrysler Group
8.00% 6/15/19		2,972,000		3,168,895
8.25% 6/15/21		4,466,000		4,890,270
General Motors 3.50% 10/2/18		593,000		605,601
Jaguar Land Rover Automotive
#144A 4.125% 12/15/18		1,461,000		1,469,328
#144A 5.625% 2/1/23		150,000		155,813

				10,289,907

Beverages–0.24%
Constellation Brands
3.75% 5/1/21		159,000		156,416
4.25% 5/1/23		320,000		313,200
6.00% 5/1/22		5,000		5,475
7.25% 5/15/17		150,000		167,156
Crestview DS Merger Sub II 10.00% 9/1/21		804,000		892,440


				1,534,687

Building Products–0.86%
#Building Materials Corp of
America 144A 6.75% 5/1/21		1,145,000		1,202,250
#Calcipar 144A 6.875% 5/1/18		525,000		543,375
Griffon 5.25% 3/1/22		930,000		889,313
#Hardwoods Acquisition 144A 7.50% 8/1/21		790,000		782,100
Headwaters 7.25% 1/15/19		336,000		349,440
Masco
5.95% 3/15/22		156,000		171,210
7.125% 3/15/20		20,000		23,100
#Masonite International 144A 8.25% 4/15/21		1,040,000		1,118,000
#Norbord 144A 5.375% 12/1/20		457,000		443,290


				5,522,078

Capital Markets–0.20%
E Trade Financial 6.375% 11/15/19		470,000		495,850
#Neuberger Berman Group 144A 5.625% 3/15/20		560,000		585,200
Oppenheimer Holdings 8.75% 4/15/18		170,000		180,625


				1,261,675

Chemicals–2.02%
Ashland 3.00% 3/15/16		344,000		345,720


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Chemicals (continued)
Ashland (continued)
3.875% 4/15/18		423,000	$	426,173
4.75% 8/15/22		1,262,000		1,236,760
Axiall 4.875% 5/15/23		970,000		934,837
#Basell Finance 144A 8.10% 3/15/27		435,000		579,905
Celanese US Holdings
4.625% 11/15/22		225,000		221,625
6.625% 10/15/18		435,000		449,899
Chemtura 5.75% 7/15/21		525,000		522,375
Eagle Spinco 4.625% 2/15/21		120,000		115,650
Huntsman International 4.875% 11/15/20		750,000		742,500
INEOS Group Holdings
#144A 5.875% 2/15/19		200,000		197,500
#144A 6.125% 8/15/18		236,000		236,295
LyondellBasell Industries
5.00% 4/15/19		430,000		475,160
6.00% 11/15/21		580,000		677,269
‡Momentive Performance
Materials 8.875% 10/15/20		600,000		539,250
#NOVA Chemicals 144A 5.25% 8/1/23		450,000		469,687
Olin 5.50% 8/15/22		560,000		579,600
PolyOne
5.25% 3/15/23		1,660,000		1,618,500
7.375% 9/15/20		648,000		684,450
Rain CII Carbon
#144A 8.00% 12/1/18		630,000		648,900
#144A 8.25% 1/15/21		400,000		418,000
#Rayonier AM Products 144A 5.50% 6/1/24		356,000		339,980
WR Grace
#144A 5.125% 10/1/21		415,000		422,781
#144A 5.625% 10/1/24		138,000		141,967


				13,024,783

Commercial Banks–2.58%
Barclays Bank 7.625% 11/21/22		810,000		871,965
CIT Group
4.25% 8/15/17		338,000		342,225
5.00% 5/15/17		749,000		769,597
5.00% 8/15/22		1,960,000		1,972,250
5.375% 5/15/20		1,683,000		1,744,009
#144A 6.625% 4/1/18		1,306,000		1,405,583
#•Credit Agricole 144A 6.625% 9/29/49		722,000		689,709
•Goldman Sachs Group 5.70% 12/29/49		594,000		605,533
•Morgan Stanley 5.45% 12/29/49		300,000		298,125
Royal Bank of Scotland Group 5.125% 5/28/24		680,000		669,398


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
Royal Bank of Scotland Group (continued)
6.00% 12/19/23		293,000	$	307,707
6.10% 6/10/23		1,339,000		1,416,231
6.125% 12/15/22		2,370,000		2,512,548
•9.50% 3/16/22		697,000		796,068
•Wachovia Capital Trust III 5.57% 3/29/49		300,000		292,125
Wells Fargo
•5.90% 12/29/49		1,073,000		1,095,801
•7.98% 3/29/49		790,000		868,447


				16,657,321

Commercial Services & Supplies–3.30%
ADT
3.50% 7/15/22		171,000		148,343
4.125% 4/15/19		230,000		225,400
4.125% 6/15/23		1,800,000		1,606,500
6.25% 10/15/21		795,000		824,813
#Alliance Data Systems 144A 5.375% 8/1/22		650,000		632,125
#Avis Budget Car Rental 144A 5.125% 6/1/22		665,000		655,025
#Cardtronics 144A 5.125% 8/1/22		430,000		425,700
Casella Waste Systems 7.75% 2/15/19		755,000		760,663
Cenveo
#144A 6.00% 8/1/19		715,000		673,887
#144A 8.50% 9/15/22		570,000		537,225
Ceridian
#144A 8.125% 11/15/17		183,000		183,686
#144A 8.875% 7/15/19		417,000		463,391
Clean Harbors
5.125% 6/1/21		150,000		149,437
5.25% 8/1/20		88,000		88,440
Covanta Holding
5.875% 3/1/24		200,000		201,000
6.375% 10/1/22		144,000		152,640
Darling Ingredients 5.375% 1/15/22		2,155,000		2,181,937
Deluxe 7.00% 3/15/19		351,000		368,989
Donnelley (R.R.)
6.00% 4/1/24		580,000		574,200
6.50% 11/15/23		340,000		340,850
Garda World Security
#144A 7.25% 11/15/21		775,000		775,000
#144A 7.25% 11/15/21		155,000		155,000
#~Igloo Holdings PIK 144A 8.25% 12/15/17		208,000		211,640
International Lease Finance
5.875% 4/1/19		260,000		277,875
6.25% 5/15/19		1,345,000		1,444,530
8.25% 12/15/20		2,371,000		2,806,671


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Services & Supplies (continued)
International Lease Finance (continued)
8.625% 1/15/22		845,000	$	1,033,013
Iron Mountain
5.75% 8/15/24		100,000		98,625
7.75% 10/1/19		346,000		371,085
8.375% 8/15/21		137,000		142,823
#Mustang Merger 144A 8.50% 8/15/21		308,000		320,320
#Prestige Brands 144A 5.375% 12/15/21		775,000		732,375
#Quad 144A 7.00% 5/1/22		490,000		475,913
Service Corp International 5.375% 1/15/22		83,000		84,245
#144A 5.375% 5/15/24		515,000		518,863
#Speedy Cash Intermediate Holdings 144A 10.75% 5/15/18		295,000		299,425
TransUnion Holding 9.625% 6/15/18		306,000		315,945


				21,257,599

Communications Equipment–0.86%
Alcatel-Lucent USA
#144A 4.625% 7/1/17		266,000		270,323
6.45% 3/15/29		489,000		463,327
#144A 6.75% 11/15/20		673,000		686,460
Avaya
#144A 7.00% 4/1/19		1,030,000		1,004,250
#144A 10.50% 3/1/21		669,000		588,720
#Brightstar 144A 9.50% 12/1/16		710,000		755,263
Goodman Networks 12.125% 7/1/18		1,081,000		1,140,455
Nokia
5.375% 5/15/19		418,000		444,125
6.625% 5/15/39		158,000		167,480


				5,520,403

Computers & Peripherals–0.14%
NCR
5.00% 7/15/22		115,000		112,987
5.875% 12/15/21		55,000		56,513
6.375% 12/15/23		130,000		136,825
Seagate HDD Cayman
#144A 3.75% 11/15/18		525,000		536,813
6.875% 5/1/20		46,000		48,875


				892,013

Construction & Engineering–0.57%
AECOM Technology
#144A 5.75% 10/15/22		820,000		825,125
#144A 5.875% 10/15/24		545,000		551,131
Dycom Investments 7.125% 1/15/21		525,000		556,500
MasTec 4.875% 3/15/23		725,000		681,500


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Construction & Engineering (continued)
Tutor Perini 7.625% 11/1/18		855,000	$	887,063
USG
#144A 5.875% 11/1/21		178,000		182,450
#144A 7.875% 3/30/20		18,000		19,507


				3,703,276

Construction Materials–1.73%
Cemex
#144A 6.50% 12/10/19		625,000		646,875
#144A 7.25% 1/15/21		1,935,000		2,051,100
#Cemex Espana Luxembourg 144A 9.875% 4/30/19		1,550,000		1,728,250
#Cemex Finance 144A 9.375% 10/12/22		3,670,000		4,156,275
Lafarge 7.125% 7/15/36		225,000		254,250
US Concrete 8.50% 12/1/18		375,000		403,125
Vulcan Materials 7.50% 6/15/21		1,605,000		1,885,875


				11,125,750

Consumer Finance–1.29%
#ACE Cash Express 144A 11.00% 2/1/19		1,020,000		772,650
Ally Financial
4.75% 9/10/18		15,000		15,413
6.25% 12/1/17		1,505,000		1,617,875
7.50% 9/15/20		1,185,000		1,368,675
8.00% 12/31/18		450,000		511,875
8.00% 3/15/20		2,125,000		2,480,937
8.00% 11/1/31		1,240,000		1,550,000


				8,317,425

Containers & Packaging–1.99%
Ardagh Packaging Finance
#144A 6.25% 1/31/19		365,000		362,263
#144A 7.00% 11/15/20		88,235		89,559
#144A 9.125% 10/15/20		291,000		315,007
Ball
4.00% 11/15/23		354,000		330,990
5.00% 3/15/22		135,000		136,350
5.75% 5/15/21		200,000		208,250
Berry Plastics 5.50% 5/15/22		425,000		409,594
Beverage Packaging Holdings Luxembourg II
#144A 5.625% 12/15/16		440,000		437,800
#144A 6.00% 6/15/17		150,000		148,125
Crown Americas
4.50% 1/15/23		445,000		422,750
6.25% 2/1/21		250,000		263,750
Graphic Packaging International 4.75% 4/15/21		357,000		357,893
Owens Illinois 7.80% 5/15/18		400,000		452,000
Reynolds Group Issuer 5.75% 10/15/20		885,000		904,913


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Containers & Packaging (continued)
Reynolds Group Issuer (continued)
6.875% 2/15/21		435,000	$	461,100
7.125% 4/15/19		750,000		779,063
7.875% 8/15/19		1,400,000		1,491,000
8.50% 5/15/18		1,000,000		1,036,250
9.00% 4/15/19		1,175,000		1,229,344
9.875% 8/15/19		1,500,000		1,621,875
Sealed Air
#144A 5.25% 4/1/23		200,000		197,000
#144A 6.50% 12/1/20		355,000		380,294
#144A 8.125% 9/15/19		250,000		271,250
#144A 8.375% 9/15/21		500,000		557,500


				12,863,920

Distributor–0.29%
#Global Partners 144A 6.25% 7/15/22		227,000		227,000
HD Supply
7.50% 7/15/20		415,000		432,637
8.125% 4/15/19		560,000		607,600
VWR Funding 7.25% 9/15/17		610,000		637,450


				1,904,687

Diversified Consumer Services–0.09%
Service International 8.00% 11/15/21		500,000		587,500


				587,500

Diversified Financial Services–2.28%
#AerCap Ireland Capital 144A 4.50% 5/15/21		455,000		441,919
Bank of America
•5.125% 12/29/49		1,565,000		1,521,963
•8.00% 12/30/49		1,169,000		1,266,392
#Chukchansi Economic Development Authority 144A 10.25% 5/30/20		236,584		166,791
•Citigroup 5.95% 12/29/49		635,000		635,596
#CNG Holdings 144A 9.375% 5/15/20		1,118,000		888,810
#Denali Borrower 144A 5.625% 10/15/20		1,879,000		1,937,719
Fly Leasing 6.75% 12/15/20		200,000		208,500
General Motors Financial
3.25% 5/15/18		56,000		56,420
4.25% 5/15/23		94,000		94,587
4.75% 8/15/17		275,000		288,750
Icahn Enterprises
3.50% 3/15/17		894,000		887,295
4.875% 3/15/19		455,000		449,313
5.875% 2/1/22		1,244,000		1,250,220
#•ILFC E-Capital Trust I 144A 4.84% 12/21/65		2,595,000		2,458,763


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Financial Services (continued)
#•ILFC E-Capital Trust II 144A 6.25% 12/21/65		566,000	$	557,510
#Jefferies Finance 144A 6.875% 4/15/22		295,000		292,050
#National Financial Partners 144A 9.00% 7/15/21		591,000		633,847
Nationstar Mortgage
6.50% 7/1/21		172,000		164,690
7.875% 10/1/20		338,000		343,070
9.625% 5/1/19		143,000		156,943


				14,701,148

Diversified Telecommunication Services–6.00%
#Altice 144A 7.75% 5/15/22		1,066,000		1,103,310
#Altice Financing 144A 6.50% 1/15/22		330,000		339,075
#Altice Finco 144A 8.125% 1/15/24		200,000		215,000
Cincinnati Bell
8.375% 10/15/20		205,000		217,300
8.75% 3/15/18		95,000		98,705
#Clearwire Communications 144A 14.75% 12/1/16		670,000		834,150
Embarq 7.995% 6/1/36		5,966,000		6,463,564
Frontier Communications
6.25% 9/15/21		140,000		138,950
6.875% 1/15/25		1,070,000		1,059,300
8.50% 4/15/20		275,000		306,625
9.25% 7/1/21		1,173,000		1,344,551
#Inmarsat Finance 144A 4.875% 5/15/22		165,000		161,700
Intelsat Jackson Holdings
5.50% 8/1/23		1,265,000		1,212,819
6.625% 12/15/22		2,704,000		2,744,560
7.25% 10/15/20		315,000		333,900
7.50% 4/1/21		1,200,000		1,285,500
Intelsat Luxembourg
7.75% 6/1/21		1,560,000		1,595,100
8.125% 6/1/23		1,326,000		1,388,985
Level 3 Communications
8.875% 6/1/19		50,000		53,625
11.875% 2/1/19		4,793,000		5,200,405
#Level 3 Escrow II 144A 5.375% 8/15/22		2,187,000		2,159,663
Level 3 Financing
#144A 6.125% 1/15/21		1,585,000		1,638,494
7.00% 6/1/20		1,335,000		1,413,431
8.125% 7/1/19		1,318,000		1,410,260
8.625% 7/15/20		617,000		670,987
Qwest 7.25% 9/15/25		340,000		397,324
Qwest Capital Funding 6.875% 7/15/28		124,000		124,006


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Telecommunication Services (continued)
Qwest Capital Funding (continued)
7.75% 2/15/31		679,000	$	701,067
#Telesat Canada 144A 6.00% 5/15/17		335,000		343,124
#UPCB Finance III 144A 6.625% 7/1/20		150,000		157,515
#UPCB Finance V 144A 7.25% 11/15/21		596,000		640,700
#Virgin Media Finance 144A 6.00% 10/15/24		590,000		592,950
Virgin Media Secured Finance
#144A 5.375% 4/15/21		200,000		202,500
#144A 6.375% 4/15/23		680,000		705,500
8.375% 10/15/19		134,000		140,298
Windstream
7.50% 6/1/22		314,000		331,663
7.75% 10/15/20		560,000		592,200
7.75% 10/1/21		88,000		94,160
7.875% 11/1/17		125,000		139,219
8.125% 9/1/18		135,000		140,873


				38,693,058

Electric Utilities–0.52%
#InterGen 144A 7.00% 6/30/23		353,000		341,527
#RJS Power Holdings 144A 5.125% 7/15/19		390,000		388,050
#‡Texas Competitive Electric
Holdings 144A 11.50% 10/1/20		3,115,000		2,624,387


				3,353,964

Electrical Equipment–0.19%
#Artesyn Escrow 144A 9.75% 10/15/20		164,000		164,410
#Belden 144A 5.25% 7/15/24		213,000		205,013
#International Wire Group Holdings 144A 8.50% 10/15/17		775,000		835,063


				1,204,486

Electronic Equipment, Instruments & Components–0.28%
CDW 8.50% 4/1/19		465,000		495,225
Jabil Circuit 4.70% 9/15/22		337,000		340,791
#Sanmina 144A 4.375% 6/1/19		423,000		415,597
#Viasystems 144A 7.875% 5/1/19		529,000		556,773


				1,808,386

Energy Equipment & Services–1.60%
Basic Energy Services
7.75% 2/15/19		325,000		338,000
7.75% 10/15/22		846,000		884,070
#CGG 144A 6.875% 1/15/22		317,000		282,923
#Exterran Partners 144A 6.00% 10/1/22		575,000		562,063


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Energy Equipment & Services (continued)
Key Energy Services 6.75% 3/1/21		1,048,000	$	1,013,940
#Ocean Rig UDW 144A 7.25% 4/1/19		414,000		380,880
Parker Drilling
#144A 6.75% 7/15/22		477,000		481,770
7.50% 8/1/20		600,000		630,000
#Petroleum Geo-Services 144A 7.375% 12/15/18		600,000		603,000
Pioneer Energy Services
#144A 6.125% 3/15/22		617,000		612,373
9.875% 3/15/18		192,000		202,147
Precision Drilling
6.50% 12/15/21		360,000		372,600
6.625% 11/15/20		385,000		401,363
#Seadrill 144A 6.625% 9/15/20		377,000		353,626
SESI 7.125% 12/15/21		500,000		555,000
#Trinidad Drilling 144A 7.875% 1/15/19		590,000		613,231
Unit 6.625% 5/15/21		2,015,000		2,030,113


				10,317,099

Food & Staples Retailing–0.74%
CST Brands 5.00% 5/1/23		942,000		923,160
Ingles Markets 5.75% 6/15/23		560,000		564,200
New Albertsons
6.625% 6/1/28		206,000		168,920
7.75% 6/15/26		320,000		304,000
8.00% 5/1/31		55,000		52,525
8.70% 5/1/30		71,000		70,290
Rite Aid
6.75% 6/15/21		440,000		452,100
8.00% 8/15/20		600,000		645,000
9.25% 3/15/20		225,000		245,813
10.25% 10/15/19		500,000		526,250
Tops Holding 8.875% 12/15/17		755,000		790,863


				4,743,121

Food Products–2.91%
Aramark Services 5.75% 3/15/20		850,000		875,500
#Bumble Bee Holdings 144A 9.00% 12/15/17		2,110,000		2,215,500
Heinz (H.J.) 4.25% 10/15/20		1,562,000		1,556,143
JBS USA Finance
#144A 5.875% 7/15/24		1,273,000		1,225,263
#144A 7.25% 6/1/21		2,364,000		2,494,020
#144A 7.25% 6/1/21		872,000		919,960
#144A 8.25% 2/1/20		721,000		771,470
#Nufarm Australia 144A 6.375% 10/15/19		574,000		588,350
Pilgrim’s Pride 7.875% 12/15/18		261,000		274,050


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Food Products (continued)
#Post Holdings 144A 6.75% 12/1/21		3,065,000	$	2,911,750
Smithfield Foods
6.625% 8/15/22		1,112,000		1,178,720
7.75% 7/1/17		755,000		839,937
Sun Merger Sub
#144A 5.25% 8/1/18		1,177,000		1,182,885
#144A 5.875% 8/1/21		1,141,000		1,158,115
#Wells Enterprises 144A 6.75% 2/1/20		385,000		396,550
WhiteWave Foods 5.375% 10/1/22		189,000		191,363


				18,779,576

Gas Utilities–0.42%
AmeriGas Finance
6.75% 5/20/20		122,000		127,490
7.00% 5/20/22		1,157,000		1,217,743
AmeriGas Partners
6.25% 8/20/19		415,000		428,487
6.50% 5/20/21		27,000		27,810
NGL Energy Partners
#144A 5.125% 7/15/19		199,000		195,269
#144A 6.875% 10/15/21		352,000		367,840
Suburban Propane Partners
5.50% 6/1/24		300,000		287,250
7.375% 8/1/21		68,000		72,420


				2,724,309

Health Care Equipment & Supplies–1.34%
Alere 6.50% 6/15/20		442,000		443,105
Biomet
6.50% 8/1/20		1,102,000		1,170,875
6.50% 10/1/20		925,000		973,563
#~ConvaTec Finance International PIK 144A 8.25% 1/15/19		346,000		352,271
#ConvaTec Healthcare 144A 10.50% 12/15/18		1,700,000		1,802,000
Hologic 6.25% 8/1/20		820,000		848,700
Hospira 5.20% 8/12/20		71,000		76,549
Mallinckrodt International Finance
3.50% 4/15/18		72,000		70,020
4.75% 4/15/23		732,000		686,250
#144A 5.75% 8/1/22		1,069,000		1,078,354
Teleflex
#144A 5.25% 6/15/24		405,000		397,913
6.875% 6/1/19		720,000		757,800


				8,657,400

Health Care Providers & Services–5.14%
Acadia Healthcare 5.125% 7/1/22		410,000		401,800


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Health Care Providers & Services (continued)
Acadia Healthcare (continued) 6.125% 3/15/21		340,000	$	351,900
Amsurg 5.625% 11/30/20		500,000		507,500
#144A 5.625% 7/15/22		490,000		487,550
Centene 4.75% 5/15/22		170,000		170,637
Community Health Systems 5.125% 8/15/18		305,000		314,150
#144A 5.125% 8/1/21		525,000		526,313
#144A 6.875% 2/1/22		805,000		841,225
7.125% 7/15/20		810,000		859,613
8.00% 11/15/19		635,000		679,577
DaVita
5.75% 8/15/22		400,000		416,000
6.625% 11/1/20		450,000		473,344
DaVita HealthCare Partners 5.125% 7/15/24		660,000		649,687
#Envision Healthcare 144A 5.125% 7/1/22		550,000		543,125
Fresenius Medical Care US Finance
#144A 5.75% 2/15/21		630,000		667,800
#144A 6.50% 9/15/18		225,000		248,063
Fresenius Medical Care US Finance II
#144A 5.625% 7/31/19		176,000		186,155
#144A 5.875% 1/31/22		763,000		812,595
HCA
3.75% 3/15/19		444,000		435,120
4.75% 5/1/23		255,000		249,900
5.00% 3/15/24		506,000		499,043
5.875% 3/15/22		1,019,000		1,073,771
5.875% 5/1/23		445,000		456,125
6.50% 2/15/20		1,550,000		1,697,250
7.25% 9/15/20		300,000		315,750
7.50% 2/15/22		1,415,000		1,595,413
8.00% 10/1/18		1,000,000		1,140,000
HCA Holdings 6.25% 2/15/21		470,000		492,325
HealthSouth 5.75% 11/1/24		164,000		168,100
IASIS Healthcare 8.375% 5/15/19		1,496,000		1,570,800
inVentiv Health
#144A 9.00% 1/15/18		325,000		338,813
#144A 11.00% 8/15/18		237,000		191,970
LifePoint Hospitals
5.50% 12/1/21		495,000		503,663
6.625% 10/1/20		250,000		265,625
#Milacron 144A 7.75% 2/15/21		740,000		782,550
#MPH Acquisition Holdings 144A 6.625% 4/1/22		1,540,000		1,559,250
#National Mentor Holdings 144A 12.50% 2/15/18		975,000		1,032,281
Omnicare 7.75% 6/1/20		402,000		427,125


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Health Care Providers & Services (continued)
Tenet Healthcare
4.375% 10/1/21		495,000	$	476,437
4.50% 4/1/21		996,000		974,835
4.75% 6/1/20		485,000		483,787
#144A 5.00% 3/1/19		551,000		545,490
#144A 5.50% 3/1/19		1,200,000		1,209,000
6.00% 10/1/20		658,000		697,480
6.25% 11/1/18		150,000		159,937
6.75% 2/1/20		115,000		120,319
8.00% 8/1/20		760,000		803,700
8.125% 4/1/22		1,700,000		1,870,000
United Surgical Partners International 9.00% 4/1/20		1,430,000		1,547,975
Universal Health Services
#144A 3.75% 8/1/19		128,000		127,840
#144A 4.75% 8/1/22		187,000		187,000


				33,135,708

Health Care Technology–0.03%
#IMS Health 144A 6.00% 11/1/20		220,000		226,050


				226,050

Hotels, Restaurants & Leisure–3.43%
AMC Entertainment 5.875% 2/15/22		966,000		978,075
#BC ULC 144A 6.00% 4/1/22		485,000		484,394
#CCM Merger 144A 9.125% 5/1/19		260,000		275,600
#CEC Entertainment 144A 8.00% 2/15/22		521,000		489,740
Cedar Fair 5.25% 3/15/21		1,093,000		1,082,070
#144A 5.375% 6/1/24		265,000		257,381
Cinemark USA 5.125% 12/15/22		460,000		454,250
DineEquity 9.50% 10/30/18		285,000		300,319
#Downstream Development Authority of the Quapaw Tribe of Oklahoma 144A 10.50% 7/1/19		201,000		213,060
#Graton Economic Development Authority 144A 9.625% 9/1/19		545,000		625,387
#Hilton Worldwide Finance 144A 5.625% 10/15/21		475,000		490,141
Isle of Capri Casinos
5.875% 3/15/21		300,000		305,250
8.875% 6/15/20		500,000		533,750
MGM Resorts International
6.75% 10/1/20		675,000		720,563
7.75% 3/15/22		3,362,000		3,748,630
8.625% 2/1/19		210,000		237,846
11.375% 3/1/18		250,000		300,000


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Hotels, Restaurants & Leisure (continued)
MTR Gaming Group 11.50% 8/1/19		530,000	$	581,013
Pinnacle Entertainment
6.375% 8/1/21		200,000		210,000
7.50% 4/15/21		345,000		360,525
8.75% 5/15/20		685,000		727,813
#Rivers Pittsburgh Borrower 144A 9.50% 6/15/19		372,000		399,900
Royal Caribbean Cruises 7.50% 10/15/27		50,000		57,250
#Seminole Hard Rock Entertainment 144A 5.875% 5/15/21		1,080,000		1,047,600
#Seneca Gaming 144A 8.25% 12/1/18		549,000		576,450
#Shearer’s Foods 144A 9.00% 11/1/19		142,000		155,135
#Shingle Springs Tribal Gaming Authority 144A 9.75% 9/1/21		480,000		519,000
#Six Flags Entertainment 144A 5.25% 1/15/21		775,000		755,625
Station Casinos 7.50% 3/1/21		1,000,000		1,047,500
#Studio City Finance 144A 8.50% 12/1/20		1,000,000		1,067,500
Vail Resorts 6.50% 5/1/19		106,000		111,101
#Viking Cruises 144A 8.50% 10/15/22		1,142,000		1,247,635
Wynn Las Vegas 5.375% 3/15/22		525,000		536,813
#Wynn Macau 144A 5.25% 10/15/21		1,278,000		1,239,660


				22,136,976

Household Durables–1.31%
#Brookfield Residential Properties 144A 6.125% 7/1/22		425,000		429,250
Horton (D.R.) 6.50% 4/15/16		57,000		61,275
Jarden 7.50% 5/1/17		650,000		713,375
K Hovnanian Enterprises
#144A 7.00% 1/15/19		183,000		179,912
#144A 7.25% 10/15/20		124,000		130,510
#144A 9.125% 11/15/20		356,000		387,150
11.875% 10/15/15		445,000		482,825
Lennar
4.50% 6/15/19		344,000		341,850
6.95% 6/1/18		322,000		352,590
12.25% 6/1/17		245,000		301,963
M/I Homes 8.625% 11/15/18		830,000		870,981
Meritage Homes
7.00% 4/1/22		464,000		503,440
7.15% 4/15/20		230,000		251,850


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Household Durables (continued)
#Serta Simmons Holdings 144A 8.125% 10/1/20		519,000	$	550,140
Spectrum Brands
6.625% 11/15/22		333,000		351,315
6.75% 3/15/20		1,000,000		1,045,000
Standard Pacific
8.375% 1/15/21		300,000		345,000
10.75% 9/15/16		193,000		221,950
#Taylor Morrison Communities 144A 7.75% 4/15/20		134,000		144,050
Toll Brothers Finance 6.75% 11/1/19		64,000		71,840
WCI Communities 6.875% 8/15/21		510,000		513,825
#144A 6.875% 8/15/21		215,000		216,613


				8,466,704

Independent Power Producers & Energy Traders–1.83%
AES
Ÿ3.234% 6/1/19		800,000		790,000
4.875% 5/15/23		190,000		181,450
5.50% 3/15/24		1,289,000		1,259,997
Calpine
5.375% 1/15/23		521,000		504,719
5.75% 1/15/25		520,000		505,700
#144A 5.875% 1/15/24		1,110,000		1,154,400
#144A 6.00% 1/15/22		500,000		531,250
#144A 7.875% 1/15/23		1,226,000		1,342,470
Dynegy 5.875% 6/1/23		400,000		375,000
GenOn Energy 9.875% 10/15/20		1,414,000		1,477,630
NRG Energy
#144A 6.25% 7/15/22		250,000		257,656
#144A 6.25% 5/1/24		625,000		629,687
6.625% 3/15/23		939,000		971,865
7.875% 5/15/21		267,000		288,360
8.25% 9/1/20		1,000,000		1,076,250
RRI Energy 7.875% 6/15/17		450,000		460,125


				11,806,559

Insurance–0.46%
#A-S Co-Issuer Subsidiary 144A 7.875% 12/15/20		598,000		621,920
#•Catlin Insurance 144A 7.249% 12/31/49		189,000		195,615
#Fidelity & Guaranty Life Holdings 144A 6.375% 4/1/21		527,000		554,667
#Liberty Mutual Group 144A 7.80% 3/15/37		905,000		1,069,031
#Onex USI Acquisition 144A 7.75% 1/15/21		551,000		551,000


				2,992,233


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Internet & Catalog Retail–0.23%
IAC/InterActive 4.875% 11/30/18		105,000	$	106,575
NetFlix 5.375% 2/1/21		536,000		549,400
#144A 5.75% 3/1/24		785,000		812,475


				1,468,450

Internet Software & Services–0.29%
#eAccess 144A 8.25% 4/1/18		650,000		689,000
Equinix 4.875% 4/1/20		187,000		186,065
Zayo Group 10.125% 7/1/20		885,000		1,001,156


				1,876,221

IT Services–1.76%
CyrusOne 6.375% 11/15/22		294,000		308,700
First Data
#144A 6.75% 11/1/20		991,000		1,052,937
#144A 8.25% 1/15/21		1,195,000		1,272,675
#144A 8.875% 8/15/20		500,000		537,500
10.625% 6/15/21		340,000		388,450
11.25% 1/15/21		162,000		184,883
11.75% 8/15/21		850,000		988,125
12.625% 1/15/21		1,278,000		1,533,600
#~First Data PIK 144A 8.75% 1/15/22		673,589		717,372
Harland Clarke Holdings
#144A 9.25% 3/1/21		315,000		320,119
#144A 9.75% 8/1/18		1,405,000		1,506,863
#iGATE 144A 4.75% 4/15/19		335,000		326,625
#Sabre 144A 8.50% 5/15/19		72,000		77,310
SITEL
#144A 11.00% 8/1/17		443,000		460,720
11.50% 4/1/18		889,000		848,995
SunGard Data Systems
6.625% 11/1/19		290,000		291,450
7.625% 11/15/20		496,000		520,800


				11,337,124

Leisure Equipment & Products–0.03%
Party City Holdings 8.875% 8/1/20		208,000		225,680


				225,680

Machinery–0.47%
Amsted Industries
#144A 5.00% 3/15/22		235,000		229,125
#144A 5.375% 9/15/24		200,000		195,000
#BlueLine Rental Finance 144A 7.00% 2/1/19		1,140,000		1,174,200
Briggs & Stratton 6.875% 12/15/20		500,000		555,625
Columbus McKinnon 7.875% 2/1/19		110,000		116,050


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Machinery (continued)
#Huber (J.M.) 144A 9.875% 11/1/19		170,000	$	191,250
#Zebra Technologies 144A 7.25% 10/15/22		542,000		542,000


				3,003,250

Marine–0.84%
#Bluewater Holding 144A 10.00% 12/10/19		1,800,000		1,917,000
Martin Midstream Partners 7.25% 2/15/21		681,000		682,703
#Navios Maritime Acquisition 144A 8.125% 11/15/21		91,000		88,270
#Navios South American Logistics 144A 7.25% 5/1/22		909,000		902,183
#Ridgebury Crude Tankers 144A 7.625% 3/20/17		474,000		485,850
Ultrapetrol Bahamas 8.875% 6/15/21		1,278,000		1,354,680


				5,430,686

Media–7.99%
Cablevision Systems
5.875% 9/15/22		540,000		524,475
8.00% 4/15/20		3,423,000		3,778,136
CBS Outdoor Americas Capital
#144A 5.25% 2/15/22		336,000		336,420
#144A 5.625% 2/15/24		330,000		331,650
#144A 5.875% 3/15/25		285,000		287,137
CCO Holdings
6.50% 4/30/21		3,612,000		3,779,055
7.00% 1/15/19		462,000		481,057
7.25% 10/30/17		340,000		353,175
8.125% 4/30/20		16,000		16,940
#Cequel Communications Holdings I 144A 5.125% 12/15/21		1,000,000		962,500
Clear Channel Worldwide Holdings
6.50% 11/15/22		1,982,000		2,036,505
6.50% 11/15/22		793,000		806,877
7.625% 3/15/20		2,443,000		2,546,827
7.625% 3/15/20		45,000		46,575
CSC Holdings 6.75% 11/15/21		750,000		801,713
DISH DBS
5.00% 3/15/23		1,147,000		1,103,271
5.875% 7/15/22		98,000		100,205
6.75% 6/1/21		3,878,000		4,178,545
7.875% 9/1/19		450,000		509,625
#DreamWorks Animation SKG 144A 6.875% 8/15/20		380,000		399,000
Gannett #144A 4.875% 9/15/21		265,000		257,050


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Media (continued)
Gannett (continued) 5.125% 7/15/20		430,000	$	433,225
#144A 5.50% 9/15/24		265,000		261,687
#144A 6.375% 10/15/23		1,005,000		1,047,713
Gray Television 7.50% 10/1/20		1,230,000		1,263,825
iHeartMedia
9.00% 12/15/19		1,699,000		1,718,114
9.00% 3/1/21		691,000		690,136
Lamar Media
5.00% 5/1/23		168,000		162,540
5.875% 2/1/22		50,000		51,750
Liberty Interactive 8.25% 2/1/30		380,000		418,475
Live Nation Entertainment
#144A 5.375% 6/15/22		220,000		220,000
#144A 7.00% 9/1/20		445,000		475,037
#NAI Entertainment Holdings 144A 5.00% 8/1/18		176,000		178,640
Nexstar Broadcasting 6.875% 11/15/20		492,000		506,760
Nielsen Finance 4.50% 10/1/20		300,000		291,750
#144A 5.00% 4/15/22		609,000		598,343
#Nielsen Luxembourg 144A 5.50% 10/1/21		155,000		156,550
Numericable Group
#144A 6.00% 5/15/22		3,325,000		3,354,094
#144A 6.25% 5/15/24		1,106,000		1,104,617
Quebecor Media 5.75% 1/15/23		240,000		239,400
#Radio One 144A 9.25% 2/15/20		205,000		205,513
#RCN Telecom Services 144A 8.50% 8/15/20		563,000		577,075
Regal Entertainment Group
5.75% 3/15/22		325,000		327,437
5.75% 6/15/23		550,000		544,500
Sinclair Television Group 5.375% 4/1/21		915,000		905,850
#144A 5.625% 8/1/24		415,000		401,513
6.125% 10/1/22		615,000		628,837
Sirius XM Radio
#144A 4.25% 5/15/20		717,000		688,320
#144A 4.625% 5/15/23		903,000		844,305
#144A 5.75% 8/1/21		550,000		555,500
#144A 5.875% 10/1/20		160,000		162,400
#144A 6.00% 7/15/24		688,000		700,040
#Time 144A 5.75% 4/15/22		135,000		129,600
Univision Communications
#144A 5.125% 5/15/23		1,350,000		1,373,625
#144A 6.75% 9/15/22		2,776,000		2,984,200
#144A 8.50% 5/15/21		350,000		371,875
Videotron 5.00% 7/15/22		124,000		123,380


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Media (continued)
Videotron (continued)
#144A 5.375% 6/15/24		1,022,000	$	1,014,335
#VTR Finance 144A 6.875% 1/15/24		1,320,000		1,369,500
#WMG Acquisition 144A 6.75% 4/15/22		866,000		833,525


				51,550,724

Metals & Mining–4.68%
AK Steel 8.75% 12/1/18		520,000		566,150
Alcoa
5.125% 10/1/24		535,000		536,734
5.40% 4/15/21		508,000		538,702
5.72% 2/23/19		550,000		597,089
5.87% 2/23/22		519,000		554,747
5.90% 2/1/27		1,186,000		1,245,015
6.15% 8/15/20		449,000		495,484
6.75% 1/15/28		364,000		413,951
Aleris International
7.625% 2/15/18		80,000		80,900
7.875% 11/1/20		552,000		552,000
APERAM
#144A 7.375% 4/1/16		500,000		509,220
#144A 7.75% 4/1/18		525,000		547,969
ArcelorMittal
6.75% 2/25/22		3,795,000		4,093,856
7.50% 10/15/39		1,080,000		1,117,800
10.35% 6/1/19		2,000,000		2,447,500
#BlueScope Steel Finance 144A 7.125% 5/1/18		402,000		420,090
Coeur Mining 7.875% 2/1/21		993,000		935,903
Commercial Metals
4.875% 5/15/23		155,000		149,575
6.50% 7/15/17		500,000		537,500
7.35% 8/15/18		460,000		512,900
#Constellium 144A 5.75% 5/15/24		600,000		603,000
First Quantum Minerals
#144A 6.75% 2/15/20		491,000		498,365
#144A 7.00% 2/15/21		491,000		500,206
#144A 7.25% 10/15/19		500,000		517,500
#144A 7.25% 5/15/22		670,000		686,750
FMG Resources August 2006 Pty
#144A 6.875% 2/1/18		935,000		963,050
#144A 6.875% 4/1/22		743,000		758,789
#144A 8.25% 11/1/19		975,000		1,011,563
Hecla Mining 6.875% 5/1/21		1,216,000		1,149,120
HudBay Minerals 9.50% 10/1/20		105,000		112,350
Kaiser Aluminum 8.25% 6/1/20		656,000		726,520
#KGHM International 144A 7.75% 6/15/19		262,000		277,720


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Metals & Mining (continued)
New Gold
#144A 6.25% 11/15/22		844,000	$	858,770
#144A 7.00% 4/15/20		78,000		83,363
Novelis 8.75% 12/15/20		1,368,000		1,468,890
#Prince Mineral Holding 144A 12.00% 12/15/19		270,000		303,750
Ryerson 9.00% 10/15/17		265,000		280,237
#Signode Industrial Group 144A 6.375% 5/1/22		435,000		418,687
Steel Dynamics
#144A 5.125% 10/1/21		215,000		218,225
5.25% 4/15/23		275,000		278,437
#144A 5.50% 10/1/24		175,000		176,313
6.125% 8/15/19		120,000		127,350
6.375% 8/15/22		370,000		392,663
7.625% 3/15/20		332,000		350,260
Taseko Mines 7.75% 4/15/19		535,000		535,000


				30,149,963

Multiline Retail–0.14%
#Neiman Marcus Group 144A 8.00% 10/15/21		702,000		733,590
Penney (J.C.) 8.125% 10/1/19		148,000		145,040


				878,630

Oil, Gas & Consumable Fuels–13.44%
Access Midstream Partners
4.875% 5/15/23		1,010,000		1,041,563
5.875% 4/15/21		621,000		658,260
6.125% 7/15/22		2,006,000		2,146,420
#Antero Resources 144A 5.125% 12/1/22		343,000		333,996
Antero Resources Finance
5.375% 11/1/21		225,000		224,719
6.00% 12/1/20		1,087,000		1,114,175
Atlas Pipeline Partners
4.75% 11/15/21		1,000,000		936,250
5.875% 8/1/23		364,000		357,630
6.625% 10/1/20		334,000		343,185
Baytex Energy
#144A 5.125% 6/1/21		267,000		261,660
#144A 5.625% 6/1/24		267,000		257,321
California Resources
#144A 5.00% 1/15/20		697,000		709,197
#144A 5.50% 9/15/21		824,000		837,390
#144A 6.00% 11/15/24		972,000		1,001,160
Chesapeake Energy
3.25% 3/15/16		131,000		131,491
4.875% 4/15/22		2,567,000		2,592,670
5.375% 6/15/21		340,000		349,775
5.75% 3/15/23		340,000		363,800
6.125% 2/15/21		542,000		592,135


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Chesapeake Energy (continued) 7.25% 12/15/18		33,000	$	37,785
Chesapeake Oil Operating 6.625% 11/15/19		125,000		129,063
Cimarex Energy
4.375% 6/1/24		462,000		466,620
5.875% 5/1/22		594,000		641,520
#CITGO Petroleum 144A 6.25% 8/15/22		603,000		628,627
Cloud Peak Energy Resources 6.375% 3/15/24		300,000		291,000
#Compressco Partners 144A 7.25% 8/15/22		720,000		723,600
Comstock Resources
7.75% 4/1/19		1,253,000		1,296,855
9.50% 6/15/20		443,000		487,300
Concho Resources
5.50% 10/1/22		300,000		310,500
5.50% 4/1/23		120,000		125,400
6.50% 1/15/22		850,000		907,375
7.00% 1/15/21		400,000		429,000
CONSOL Energy
#144A 5.875% 4/15/22		1,060,000		1,048,075
6.375% 3/1/21		825,000		841,500
8.25% 4/1/20		275,000		288,406
Crestwood Midstream Partners
6.00% 12/15/20		143,000		144,430
6.125% 3/1/22		454,000		457,405
7.75% 4/1/19		500,000		526,250
Crosstex Energy 7.125% 6/1/22		165,000		191,194
#Diamondback Energy 144A 7.625% 10/1/21		742,000		803,215
Energy Transfer Equity
5.875% 1/15/24		2,112,000		2,148,960
7.50% 10/15/20		147,000		164,273
Energy XXI Gulf Coast
#144A 6.875% 3/15/24		429,000		404,333
7.50% 12/15/21		188,000		185,180
7.75% 6/15/19		445,000		445,000
9.25% 12/15/17		175,000		182,437
EP Energy
6.875% 5/1/19		129,000		135,127
7.75% 9/1/22		1,145,000		1,216,563
9.375% 5/1/20		858,000		939,510
EXCO Resources 8.50% 4/15/22		507,000		482,917
Genesis Energy
5.625% 6/15/24		429,000		414,521
5.75% 2/15/21		375,000		367,969
7.875% 12/15/18		315,000		329,175
Halcon Resources
9.25% 2/15/22		860,000		861,075
9.75% 7/15/20		251,000		256,647


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Hiland Partners
#144A 5.50% 5/15/22		280,000	$	273,000
#144A 7.25% 10/1/20		1,000,000		1,065,000
Hilcorp Energy I
#144A 5.00% 12/1/24		995,000		958,931
#144A 7.625% 4/15/21		1,365,000		1,443,487
#144A 8.00% 2/15/20		323,000		338,746
Holly Energy Partners 6.50% 3/1/20		137,000		141,795
#Jones Energy Holdings 144A 6.75% 4/1/22		465,000		466,163
#Jupiter Resources 144A 8.50% 10/1/22		950,000		845,500
Kinder Morgan
#144A 5.00% 2/15/21		323,000		338,343
#144A 5.625% 11/15/23		323,000		344,803
Kodiak Oil & Gas
5.50% 1/15/21		210,000		213,150
5.50% 2/1/22		248,000		250,480
Laredo Petroleum 7.375% 5/1/22		76,000		80,180
Linn Energy 6.50% 9/15/21		567,000		555,660
MarkWest Energy Partners
4.50% 7/15/23		256,000		249,600
5.50% 2/15/23		1,250,000		1,284,375
6.25% 6/15/22		78,000		82,485
6.75% 11/1/20		565,000		598,900
MEG Energy
#144A 6.375% 1/30/23		580,000		587,975
#144A 6.50% 3/15/21		300,000		309,000
#144A 7.00% 3/31/24		265,000		274,937
#Memorial Resource Development 144A 5.875% 7/1/22		1,111,000		1,088,780
Murphy Oil USA 6.00% 8/15/23		95,000		99,513
Newfield Exploration
5.625% 7/1/24		694,000		746,050
5.75% 1/30/22		400,000		431,000
6.875% 2/1/20		100,000		104,750
7.125% 5/15/18		425,000		437,378
Oasis Petroleum 6.875% 3/15/22		650,000		689,000
Peabody Energy
6.25% 11/15/21		2,140,000		1,998,225
6.50% 9/15/20		325,000		305,500
Penn Virginia Resource Partners 6.50% 5/15/21		87,000		91,567
#Precision Drilling 144A 5.25% 11/15/24		631,000		610,493
QEP Resources
5.25% 5/1/23		733,000		714,675
5.375% 10/1/22		1,062,000		1,046,070
6.875% 3/1/21		1,335,000		1,455,150


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Range Resources
5.00% 8/15/22		210,000	$	215,775
5.00% 3/15/23		210,000		217,350
5.75% 6/1/21		215,000		226,825
6.75% 8/1/20		10,000		10,575
Regency Energy Partners
4.50% 11/1/23		133,000		129,343
5.00% 10/1/22		360,000		355,050
5.50% 4/15/23		1,245,000		1,266,787
5.875% 3/1/22		500,000		522,500
6.50% 7/15/21		370,000		390,350
#Rockies Express Pipeline 144A 6.00% 1/15/19		250,000		261,250
#Rose Rock Midstream 144A 5.625% 7/15/22		297,000		294,773
Rosetta Resources
5.625% 5/1/21		1,025,000		1,004,500
5.875% 6/1/22		933,000		934,166
5.875% 6/1/24		421,000		414,159
#RSP Permian 144A 6.625% 10/1/22		246,000		247,845
Sabine Oil & Gas 9.75% 2/15/17		313,000		317,695
Sabine Pass Liquefaction
5.625% 2/1/21		400,000		413,000
5.625% 4/15/23		1,773,000		1,799,595
#144A 5.75% 5/15/24		490,000		499,187
#144A 6.25% 3/15/22		490,000		516,337
Samson Investment 9.75% 2/15/20		1,090,000		994,625
#Sanchez Energy 144A 6.125% 1/15/23		44,000		43,683
SandRidge Energy 7.50% 3/15/21		220,000		215,600
#Sea Trucks Group 144A 9.00% 3/26/18		800,000		757,000
SemGroup 7.50% 6/15/21		266,000		280,630
#Seventy Seven Energy 144A 6.50% 7/15/22		756,000		746,550
#Shelf Drilling Holdings 144A 8.625% 11/1/18		225,000		237,375
SM Energy
5.00% 1/15/24		400,000		384,000
6.50% 11/15/21		910,000		966,875
6.50% 1/1/23		700,000		731,500
6.625% 2/15/19		665,000		693,263
#Southern Star Central 144A 5.125% 7/15/22		250,000		249,375
Stone Energy 7.50% 11/15/22		1,214,000		1,256,854
Summit Midstream Holdings
5.50% 8/15/22		225,000		221,063
7.50% 7/1/21		185,000		198,875


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Swift Energy
7.875% 3/1/22		843,000	$	847,215
8.875% 1/15/20		308,000		315,700
#Talos Production 144A 9.75% 2/15/18		547,000		566,145
Targa Resources Partners
5.25% 5/1/23		850,000		871,250
6.375% 8/1/22		54,000		57,780
6.875% 2/1/21		485,000		520,163
#Teine Energy 144A 6.875% 9/30/22		465,000		458,606
Tesoro 5.125% 4/1/24		230,000		223,387
Tesoro Logistics
5.875% 10/1/20		1,656,000		1,722,240
6.125% 10/15/21		450,000		466,875
Ultra Petroleum
#144A 5.75% 12/15/18		805,000		813,050
#144A 6.125% 10/1/24		679,000		651,840
Vanguard Natural Resources 7.875% 4/1/20		260,000		270,400
W&T Offshore 8.50% 6/15/19		1,140,000		1,185,600
Western Refining 6.25% 4/1/21		414,000		416,070
Westmoreland Coal 10.75% 2/1/18		560,000		589,400
Whiting Petroleum 5.00% 3/15/19		875,000		903,437
WPX Energy
5.25% 1/15/17		290,000		303,050
5.25% 9/15/24		526,000		511,535
6.00% 1/15/22		2,766,000		2,865,576


				86,655,914

Paper & Forest Products–0.34%
#Cascades 144A 5.50% 7/15/22		530,000		516,087
Clearwater Paper 4.50% 2/1/23		180,000		172,800
#144A 5.375% 2/1/25		450,000		445,500
Louisiana-Pacific 7.50% 6/1/20		117,000		125,190
Resolute Forest Products 5.875% 5/15/23		75,000		69,703
#Sappi Papier Holding Gmbh 144A 8.375% 6/15/19		200,000		216,500
Unifrax I
#144A 7.50% 2/15/19		350,000		355,250
#144A 7.50% 2/15/19		280,000		284,200


				2,185,230

Personal Products–0.03%
Revlon Consumer Products 5.75% 2/15/21		194,000		191,090


				191,090


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Pharmaceuticals–1.40%
#~Capsugel PIK 144A 7.00% 5/15/19		240,000	$	239,850
Catamaran 4.75% 3/15/21		185,000		178,409
Endo Finance
#144A 5.75% 1/15/22		675,000		668,250
#144A 7.00% 7/15/19		120,000		126,150
#144A 7.00% 12/15/20		365,000		382,794
#Grifols Worldwide Operations 144A 5.25% 4/1/22		480,000		475,200
Par Pharmaceutical 7.375% 10/15/20		600,000		628,500
#Salix Pharmaceuticals 144A 6.00% 1/15/21		350,000		379,750
Valeant Pharmaceuticals International
#144A 5.625% 12/1/21		750,000		749,063
#144A 6.375% 10/15/20		1,200,000		1,237,500
#144A 6.75% 10/1/17		35,000		36,232
#144A 6.75% 8/15/18		709,000		749,767
#144A 6.75% 8/15/21		300,000		312,375
#144A 6.875% 12/1/18		450,000		466,313
#144A 7.00% 10/1/20		875,000		918,750
#144A 7.25% 7/15/22		675,000		714,656
#144A 7.50% 7/15/21		717,000		769,879


				9,033,438

Professional Services–0.11%
FTI Consulting
6.00% 11/15/22		125,000		127,187
6.75% 10/1/20		480,000		501,000
#~Jaguar Holding I PIK 144A 9.375% 10/15/17		90,000		91,125


				719,312

Real Estate Investment Trusts–0.22%
CNL Lifestyle Properties 7.25% 4/15/19		305,000		314,913
Crown Castle International 4.875% 4/15/22		400,000		389,750
DuPont Fabros Technology 5.875% 9/15/21		445,000		455,013
RHP Hotel Properties 5.00% 4/15/21		244,000		239,120


				1,398,796

Real Estate Management & Development–0.27%
CBRE Services
5.00% 3/15/23		945,000		940,181
6.625% 10/15/20		35,000		36,887
Kennedy-Wilson 5.875% 4/1/24		304,000		306,280
#Mattamy Group 144A 6.50% 11/15/20		458,000		459,145


				1,742,493


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Road & Rail–1.23%
#Ashtead Capital 144A 6.50% 7/15/22		625,000	$	665,625
Avis Budget Car Rental 9.75% 3/15/20		545,000		602,225
#CEVA Group 144A 4.00% 5/1/18		215,000		201,831
Hertz
6.75% 4/15/19		382,000		395,847
7.375% 1/15/21		595,000		630,700
#Jurassic Holdings III 144A
6.875% 2/15/21		755,000		756,887
PHI 5.25% 3/15/19		292,000		294,555
United Rentals North America
5.75% 7/15/18		103,000		107,893
5.75% 11/15/24		120,000		121,800
6.125% 6/15/23		1,943,000		2,006,147
7.375% 5/15/20		200,000		213,500
7.625% 4/15/22		267,000		291,697
8.375% 9/15/20		1,300,000		1,404,000
#XPO Logistics 144A 7.875% 9/1/19		247,000		256,263


				7,948,970

Semiconductors & Semiconductor Equipment–1.02%
Advanced Micro Devices
6.75% 3/1/19		488,000		495,320
7.00% 7/1/24		460,000		441,600
7.75% 8/1/20		708,000		722,160
Amkor Technology
6.625% 6/1/21		165,000		172,837
7.375% 5/1/18		450,000		469,125
CommScope
#144A 5.00% 6/15/21		428,000		421,580
#144A 5.50% 6/15/24		402,000		396,975
#Entegris 144A 6.00% 4/1/22		202,000		206,040
Freescale Semiconductor
#144A 5.00% 5/15/21		490,000		483,875
#144A 6.00% 1/15/22		263,000		267,603
8.05% 2/1/20		99,000		105,435
Micron Technology
#144A 5.50% 2/1/25		800,000		786,000
#144A 5.875% 2/15/22		181,000		187,787
NXP
#144A 3.50% 9/15/16		200,000		201,000
#144A 3.75% 6/1/18		420,000		414,750
#144A 5.75% 2/15/21		200,000		204,000
#144A 5.75% 3/15/23		200,000		203,000
#Sensata Technologies 144A 4.875% 10/15/23		435,000		421,950


				6,601,037


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Software–0.56%
Activision Blizzard
#144A 5.625% 9/15/21		270,000	$	281,475
#144A 6.125% 9/15/23		1,100,000		1,171,500
Audatex North America
#144A 6.00% 6/15/21		640,000		659,200
#144A 6.125% 11/1/23		105,000		108,150
#~Infor Software Parent PIK 144A 7.125% 5/1/21		402,000		399,990
Infor US 9.375% 4/1/19		535,000		579,806
#Nuance Communications 144A 5.375% 8/15/20		403,000		395,947


				3,596,068

Specialty Retail–1.15%
AutoNation 5.50% 2/1/20		100,000		109,250
#~Chinos Intermediate Holdings A PIK 144A 7.75% 5/1/19		228,000		216,600
Claire’s Stores
#144A 6.125% 3/15/20		1,074,000		993,450
8.875% 3/15/19		1,075,000		897,625
#144A 9.00% 3/15/19		2,417,000		2,477,425
First Cash Financial Services 6.75% 4/1/21		175,000		182,875
#Guitar Center 144A 6.50% 4/15/19		433,000		391,865
L Brands 5.625% 10/15/23		500,000		523,750
PC Nextco Holdings 8.75% 8/15/19		300,000		303,000
Penske Automotive Group 5.75% 10/1/22		130,000		132,600
QVC 5.125% 7/2/22		75,000		78,920
#Radio Systems 144A 8.375% 11/1/19		475,000		509,437
Sally Holdings 5.50% 11/1/23		615,000		621,150


				7,437,947

Textiles, Apparel & Luxury Goods–0.02%
PVH 4.50% 12/15/22		124,000		121,830


				121,830

Trading Companies & Distributors–0.27%
Aircastle
6.25% 12/1/19		318,000		336,285
7.625% 4/15/20		460,000		516,350
H&E Equipment Services 7.00% 9/1/22		811,000		869,797


				1,722,432

Wireless Telecommunication Services–4.03%
Crown Castle International 5.25% 1/15/23		250,000		249,063
MetroPCS Wireless 6.625% 11/15/20		1,014,000		1,045,687


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Wireless Telecommunication Services (continued)
MetroPCS Wireless (continued) 7.875% 9/1/18		45,000	$	46,794
‡NII Capital 7.625% 4/1/21		2,354,000		459,030
NII International Telecom
#‡144A 7.875% 8/15/19		1,102,000		746,605
#‡144A 11.375% 8/15/19		402,000		272,355
#SBA Communications 144A 4.875% 7/15/22		683,000		657,387
SBA Telecommunications 5.75% 7/15/20		232,000		237,220
#SoftBank 144A 4.50% 4/15/20		1,165,000		1,166,456
Sprint
#144A 7.125% 6/15/24		437,000		441,916
#144A 7.25% 9/15/21		243,000		253,631
#144A 7.875% 9/15/23		2,217,000		2,355,563
Sprint Capital
6.90% 5/1/19		1,111,000		1,173,494
8.75% 3/15/32		1,633,000		1,790,176
Sprint Nextel
6.00% 11/15/22		1,190,000		1,158,763
#144A 7.00% 3/1/20		930,000		1,021,837
7.00% 8/15/20		1,250,000		1,309,375
#144A 9.00% 11/15/18		860,000		995,450
9.125% 3/1/17		334,000		377,420
11.50% 11/15/21		90,000		115,650
T-Mobile USA
5.25% 9/1/18		476,000		492,065
6.00% 3/1/23		414,000		414,517
6.125% 1/15/22		451,000		454,946
6.25% 4/1/21		793,000		803,904
6.375% 3/1/25		414,000		414,000
6.464% 4/28/19		325,000		338,406
6.50% 1/15/24		129,000		130,935
6.625% 4/1/23		833,000		855,907
6.633% 4/28/21		591,000		607,991
6.731% 4/28/22		2,153,000		2,209,516
6.836% 4/28/23		1,089,000		1,123,031
#West 144A 5.375% 7/15/22		1,017,000		940,725
Wind Acquisition Finance
#144A 4.75% 7/15/20		745,000		717,063
#144A 7.375% 4/23/21		595,000		599,463


				25,976,341


Total Corporate Bonds (Cost $570,629,378)				575,236,610


«SENIOR SECURED LOANS–5.96%
Albertson’s Holdings Tranche B4 1st Lien 5.50% 8/8/21		1,600,000		1,594,832


	Principal		Value
	Amount°		(U.S. $)

«SENIOR SECURED LOANS (continued)
Alliance HealthCare Services Tranche B 4.25% 5/31/19		221,337	$	220,852
Alon USA Partners Tranche B 1st Lien 9.25% 11/13/18		70,958		72,377
Altice Financing 5.50% 7/15/19		397,000		401,301
American Casino & Entertainment Properties Tranche B 1st Lien 4.50% 7/3/19		320,938		318,932
Avago Technologies Tranche B 1st Lien 3.75% 4/16/21		472,815		469,212
Avaya Tranche B-3 4.50% 10/27/17		158,894		151,819
Avaya Tranche B6 6.50% 3/31/18		97,981		97,389
Axalta Coating Systems US Holdings 1st Lien 4.00% 2/1/20		362,590		356,056
AZ Chem US 2nd Lien 7.50% 6/9/22		174,000		175,377
Carestream Health Tranche B 5.00% 6/5/19		181,868		181,884
Catalent Pharma Solutions 6.50% 12/31/17		128,864		129,186
CDW 3.25% 4/25/20		197,001		192,622
CEVA Group Canadian 6.50% 3/19/21		8,333		8,089
CEVA Group Dutch 6.50% 3/19/21		48,329		46,919
CEVA Group Pre-Funded L 6.50% 3/19/21		46,059		44,677
CEVA Group Tranche B 6.50% 3/14/21		66,660		64,716
Chrysler Group Tranche B 1st Lien 3.50% 5/24/17		685,010		680,516
Cincinnati Bell Tranche B 1st Lien 4.00% 8/20/20		316,800		314,424
Clear Channel Communications Tranche B 3.65% 1/29/16		287,158		284,970
Clear Channel Communications Tranche D 6.75% 1/30/19		2,682,692		2,570,596
Clear Channel Communications Tranche E 1st Lien 7.50% 7/30/19		850,642		836,211


	Principal		Value
	Amount°		(U.S. $)

«SENIOR SECURED LOANS (continued)
Dell Tranche B 4.50% 3/24/20		1,068,923	$	1,063,027
Delta Air Lines Tranche B1 3.25% 10/18/18		982,500		961,253
Dole Food Tranche B 4.50% 11/1/18		783,333		777,262
Donnelley (R.H.) 9.00% 12/31/16		410,074		302,019
Ducommun Tranche B 5.50% 6/30/17		72,451		72,451
EMI Music Publishing Tranche B 1st Lien 3.75% 6/29/18		89,581		88,293
Energy Future Intermediate Holding 1st Lien 4.25% 6/6/16		305,118		304,229
Entercom Radio Tranche B2 4.00% 11/23/18		69,867		69,779
Fieldwood Energy 2nd Lien 8.375% 9/30/20		1,095,000		1,100,749
First Data Corp Tranche B1 3.50% 9/24/18		213,043		208,938
Floatel International Tranche B 1st Lien 6.00% 5/22/20		390,346		383,515
Formula One Tranche B 2nd Lien 7.75% 7/29/22		825,000		823,453
Freedom Group Operating Tranche B 5.50% 4/2/19		339,733		339,733
Freescale Semiconductor Tranche B4 4.25% 3/1/20		295,517		291,592
Freescale Semiconductor Tranche B5 5.00% 1/15/21		564,300		563,200
Go Daddy Tranche B 1st Lien 4.75% 5/13/21		404,985		399,925
Graton Resort & Casino Tranche B 9.00% 8/3/18		137,684		141,671
Harland Clarke Holdings Tranche B 5.25% 6/30/17		68,306		68,427
Heinz (H.J.) Tranche B2 1st Lien 3.50% 6/5/20		1,784,695		1,765,287
Intrawest Tranche 1st Lien 5.50% 11/27/20		275,556		276,475
Inventiv Health Tranche B4 1st Lien 7.75% 5/15/18		288,875		287,071


	Principal		Value
	Amount°		(U.S. $)

«SENIOR SECURED LOANS (continued)
J Crew Group Tranche B 1st Lien 4.00% 2/28/21		961,202	$	915,718
McGraw- Hill Global Education 1st Lien 5.75% 3/22/19		191,343		192,060
MEG Energy Tranche B 3.75% 3/31/20		111,556		111,117
Ocean Rig (Drillship) Tranche B 1st Lien 5.50% 7/18/21		368,852		358,708
OCI Beaumont Tranche B3 1st Lien 5.00% 8/20/19		118,913		119,359
Penney (J.C.) 1st Lien 6.00% 5/21/18		1,086,250		1,085,978
Pinnacle Foods Tranche H 1st Lien 3.25% 4/29/20		496,250		486,856
Quickrete 2nd Lien 7.00% 3/19/21		87,960		88,656
Radio One Tranche B 7.50% 3/7/16		530,965		539,925
Realogy 4.25% 10/10/16		10,637		10,537
Rite Aid 2nd Lien 4.875% 6/13/21		1,038,889		1,035,642
Rite Aid Tranche 1 2nd Lien 5.75% 8/3/20		155,000		157,471
ROC Finance 1st Lien 5.00% 3/27/19		912,667		876,922
Sabine Oil & Gas 2nd Lien 8.75% 12/31/18		466,667		467,542
Scientific Games International 4.25% 5/22/20		316,168		310,637
Sears Tranche B 5.50% 6/30/18		808,888		789,426
Serta Simmons Holdings Tranche B 1st Lien 5.00% 8/29/19		393,564		390,614
Shelf Drilling MidCo 1st Lien 10.00% 10/7/18		300,000		302,250
Shingle Springs Tribal Gaming Authority Tranche B 6.25% 8/19/19		363,750		372,844
Stallion Oilfield Holdings 8.00% 6/19/18		257,683		260,742
Summit Materials Tranche B 5.00% 1/30/19		171,082		170,547
Supervalu 1st Lien 4.50% 3/21/19		1,544,760		1,519,125
Syniverse Holdings 1st Lien 4.00% 4/23/19		512,877		504,971


	Principal		Value
	Amount°		(U.S. $)

«SENIOR SECURED LOANS (continued)
Texas Competitive Electric Holdings
3.75% 5/5/16		436,921	$	439,654
4.65% 10/10/17		4,705,000		3,494,780
Tribune Tranche B 1st Lien 4.00% 11/20/20		553,268		546,787
Univision Communications 1st Lien 4.00% 3/1/20		206,850		203,174
Univision Communications Tranche C4 4.00% 3/1/20		864,395		849,541
UPC Broadband Holding Tranche AH 3.25% 6/30/21		170,000		165,963
Vantage Energy Tranche 2nd Lien 8.50% 12/2/18		167,097		166,679
@Vertis 11.50% 12/20/15		243,194		10,944
Visant Tranche 1st Lien 7.00% 9/23/21		650,000		644,043
Wabash National Tranche B 6.00% 4/17/19		131,850		131,438
Weather Channel 1st Lien 3.50% 2/13/17		510,000		502,138
WMG Acquisition 1st Lien 3.75% 7/7/20		323,367		312,757
XO Communications 4.25% 3/5/21		191,538		189,861
Zayo Group Tranche B 1st Lien 4.00% 7/2/19		198,479		195,986


Total Senior Secured Loans (Cost $39,003,393)				38,422,698


	Number of Shares

COMMON STOCK–0.11%
†Dynegy		2,750		79,365
†@=Escrow Dynegy Holdings		1,000,000		0
†@=General Maritime		85		929
†@Motors Liquidation		425,000		43
†@Motors Liquidation		400,000		40
†@Motors Liquidation		325,000		33
@Newpage		6,426		597,618


Total Common Stock (Cost $818,180)				678,028

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of		Value
	Shares		(U.S. $)

INVESTMENT COMPANIES–99.65%
Asset Allocation Fund–19.23%
^²American Funds^®–Capital Income Builder		5,666,875	$	338,142,424


				338,142,424

Equity Funds–21.20%
^²American Funds^®–AMCAP Fund		4,697,177		135,278,695
American Mutual Fund		4,185,472		153,062,700
American Funds Insurance Series^®–Growth-Income Fund		1,626,273		84,549,932


				372,891,327

Fixed Income Funds–42.02%
^²American Funds^®–Intermediate Bond Fund of America		6,385,934		86,146,252
American Funds Insurance Series^®–Bond Fund		38,655,836		429,852,901
High-Income Bond Fund		6,054,867		67,935,607
Mortgage Bond Fund		6,468,499		68,954,202
U.S. Government/AAA-Rated Securities Fund		6,953,000		86,078,139


				738,967,101


	Number of		Value
	Shares		(U.S. $)

INVESTMENT COMPANIES (continued)
International Equity Funds–11.39%
^²American Funds^®–EuroPacific Growth Fund		1,712,146	$	83,381,519
New Perspective Fund		881,463		33,680,697
American Funds Insurance Series^®–Global Growth Fund		616,654		16,859,319
Global Small Capitalization Fund		2,571,830		66,301,789


				200,223,324

International Fixed Income Fund–2.89%
American Funds Insurance Series^®–Global Bond Fund		4,209,744		50,895,805


				50,895,805

Money Market Fund–2.92%
Dreyfus Treasury & Agency Cash
Management Fund - Institutional Shares		51,257,014		51,257,014


				51,257,014


Total Investment Companies (Cost $1,669,079,764)				1,752,376,995

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of		Value
	Shares		(U.S. $)

INVESTMENT COMPANIES–99.69%
Asset Allocation Fund–16.35%
^²American Funds^®–Capital Income Builder		9,663,557	$	576,624,465


				576,624,465

Equity Funds–28.91%
^²American Funds^®–AMCAP Fund		11,780,213		339,270,125
American Mutual Fund		9,326,951		341,086,585
American Funds Insurance Series^®–Growth-Income Fund		6,525,246		339,247,538


				1,019,604,248

Fixed Income Funds–22.47%
^²American Funds^®–Intermediate Bond Fund of America		7,686,733		103,694,032
American Funds Insurance Series^®–Bond Fund		43,427,987		482,919,218
High-Income Bond Fund		9,110,370		102,218,347
Mortgage Bond Fund		9,732,632		103,749,854


				792,581,451


	Number of		Value
	Shares		(U.S. $)

INVESTMENT COMPANIES (continued)
International Equity Funds–25.59%
^²American Funds^®–EuroPacific Growth Fund		8,243,880	$	401,476,932
New Perspective Fund		5,305,190		202,711,301
American Funds Insurance Series^®–Global Growth Fund		1,237,136		33,823,289
Global Small Capitalization Fund		6,449,639		166,271,692
New World Fund		4,384,586		98,477,800


				902,761,014

International Fixed Income Fund–2.89%
American Funds Insurance Series^®–Global Bond Fund		8,445,532		102,106,486


				102,106,486

Money Market Fund–3.48%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		122,706,079		122,706,079


				122,706,079


Total Investment Companies (Cost $3,317,598,296)				3,516,383,743

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES–88.93%
Equity Funds–20.52%
*Lincoln Variable Insurance Products Trust–LVIP SSgA Large Cap 100 Fund		1,697,823	$	26,570,932
†LVIP SSgA Mid-Cap Index Fund		2,719,062		25,931,695
LVIP SSgA S&P 500 Index Fund		14,275,680		204,242,155
LVIP SSgA Small-Cap Index Fund		1,027,683		25,635,546


				282,380,328

Fixed Income Funds–54.09%
*Lincoln Variable Insurance Products Trust–LVIP BlackRock Inflation Protected Bond Fund		2,552,383		26,731,111
LVIP Delaware Bond Fund		35,635,937		501,148,181
LVIP Delaware Diversified Floating Rate Fund		5,296,611		54,258,486
LVIP JPMorgan High Yield Fund		4,600,790		53,516,391
†LVIP PIMCO Low Duration Bond Fund		5,416,947		54,407,816
LVIP SSgA Bond Index Fund		4,741,903		54,261,599


				744,323,584

International Equity Funds–10.40%
*Lincoln Variable Insurance Products Trust–LVIP Clarion Global Real Estate Fund		1,377,831		12,692,577
LVIP MFS International Growth Fund		1,840,383		26,067,178
LVIP Mondrian International Value Fund		1,417,755		26,348,981
LVIP SSgA Developed International 150 Fund		2,633,899		25,946,536
LVIP SSgA International Index Fund		5,618,708		52,141,608


				143,196,880

International Fixed Income Fund–3.92%
*Lincoln Variable Insurance Products Trust–LVIP Global Income Fund		4,642,286		53,924,789


				53,924,789


Total Affiliated Investment Companies (Cost $1,085,153,763)				1,223,825,581


	Number of		Value
	Shares		(U.S. $)

UNAFFILIATED INVESTMENT COMPANIES–10.67%
Equity Funds–3.59%
*Delaware VIP^® Trust– Delaware VIP U.S. Growth Series		1,616,699	$	20,855,423
Delaware VIP Value Series		551,478		15,612,351
XFidelity^® Variable Life Insurance Products–Fidelity VIP Mid Cap Portfolio		355,811		12,976,419


				49,444,193

Fixed Income Funds–3.92%
^²American Funds^®–American Funds Mortgage Fund		1,961,454		19,947,985
*Delaware VIP^® Trust–Delaware VIP Diversified Income Series		3,164,799		34,053,242


				54,001,227

International Equity Fund–0.90%
Ishares MSCI Emerging Markets ETF		296,525		12,323,579


				12,323,579

Money Market Fund–2.26%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		31,072,123		31,072,123


				31,072,123


Total Unaffiliated Investment Companies (Cost $119,823,254)				146,841,122

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES–89.92%
Equity Funds–31.10%
*Lincoln Variable Insurance Products Trust–LVIP SSgA Large Cap 100 Fund		17,046,601	$	266,779,301
†LVIP SSgA Mid-Cap Index Fund		13,651,523		130,194,577
LVIP SSgA S&P 500 Index Fund		99,261,118		1,420,128,812
LVIP SSgA Small-Cap Index Fund		7,739,715		193,067,180
†LVIP T. Rowe Price Growth Stock Fund		2,235,511		66,848,496
LVIP T. Rowe Price Structured Mid-Cap Growth Fund		3,137,534		66,158,048


				2,143,176,414

Fixed Income Funds–35.05%
*Lincoln Variable Insurance Products Trust–LVIP BlackRock Inflation Protected Bond Fund		12,814,097		134,202,043
LVIP Delaware Bond Fund		99,396,202		1,397,808,793
LVIP Delaware Diversified Floating Rate Fund		19,940,906		204,274,643
LVIP JPMorgan High Yield Fund		17,322,291		201,492,890
†LVIP PIMCO Low Duration Bond Fund		27,191,832		273,114,759
LVIP SSgA Bond Index Fund		17,853,218		204,294,375


				2,415,187,503

International Equity Funds–18.86%
*Lincoln Variable Insurance Products Trust–LVIP Clarion Global Real Estate Fund		13,839,125		127,486,022
LVIP MFS International Growth Fund		18,480,024		261,751,055
LVIP Mondrian International Value Fund		10,676,966		198,431,417
LVIP SSgA Developed International 150 Fund		19,836,445		195,408,817
LVIP SSgA Emerging Markets 100 Fund		12,599,319		123,523,724
LVIP SSgA International Index Fund		42,315,215		392,685,198


				1,299,286,233


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES (continued)
International Fixed Income Fund–4.91%
*Lincoln Variable Insurance Products Trust– LVIP Global Income Fund		29,136,280	$	338,447,032


				338,447,032


Total Affiliated Investment Companies (Cost $5,457,084,177)				6,196,097,182

UNAFFILIATED INVESTMENT COMPANIES–9.75%
Commodity Fund–0.93%
**PIMCO CommodityRealReturn Strategy Portfolio		12,255,276		63,972,542


				63,972,542

Equity Funds–2.74%
*Delaware VIP^® Trust– Delaware VIP U.S. Growth Series		4,476,338		57,744,761
Delaware VIP Value Series		2,327,972		65,904,899
XFidelity^® Variable Life Insurance Products– Fidelity VIP Mid Cap Portfolio		1,786,412		65,150,435


				188,800,095

Fixed Income Funds–1.42%
^²American Funds^®– American Funds Mortgage Fund		1,725,667		17,550,033
*Delaware VIP^® Trust– Delaware VIP Diversified Income Series		7,434,604		79,996,344


				97,546,377

International Equity Fund–1.80%
Ishares MSCI Emerging Markets ETF		2,987,273		124,151,066


				124,151,066

Money Market Fund–2.86%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		197,451,095		197,451,095


				197,451,095


Total Unaffiliated Investment Companies (Cost $606,636,646)				671,921,175

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES–91.72%
Equity Funds–37.61%
*Lincoln Variable Insurance Products Trust–LVIP SSgA Large Cap 100 Fund		20,749,025	$	324,722,237
†LVIP SSgA Mid-Cap Index Fund		16,616,452		158,471,103
LVIP SSgA S&P 500 Index Fund		159,953,909		2,288,460,574
LVIP SSgA Small-Cap Index Fund		12,560,893		313,331,477
LVIP T. Rowe Price Structured Mid-Cap Growth Fund		3,818,953		80,526,433


				3,165,511,824

Fixed Income Funds–24.81%
*Lincoln Variable Insurance Products Trust–
LVIP BlackRock Inflation Protected Bond Fund		7,798,467		81,673,350
LVIP Delaware Bond Fund		95,647,138		1,345,085,698
LVIP Delaware Diversified Floating Rate Fund		8,090,031		82,874,273
LVIP JPMorgan High Yield Fund		14,056,290		163,502,762
†LVIP PIMCO Low Duration Bond Fund		33,097,274		332,429,020
LVIP SSgA Bond Index Fund		7,243,463		82,886,946


				2,088,452,049

International Equity Funds–24.41%
*Lincoln Variable Insurance Products Trust–
LVIP BlackRock Emerging Markets RPM Fund		7,367,758		74,104,909
LVIP Clarion Global Real Estate Fund		16,844,193		155,168,701
LVIP MFS International Growth Fund		22,493,597		318,599,308
LVIP Mondrian International Value Fund		12,995,752		241,526,052
LVIP SSgA Developed International 150 Fund		24,144,723		237,849,664
LVIP SSgA Emerging Markets 100 Fund		15,402,487		151,005,978
LVIP SSgA International Index Fund		94,426,548		876,278,367


				2,054,532,979


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES (continued)
International Fixed Income Fund–4.89%
*Lincoln Variable Insurance Products Trust–LVIP Global Income Fund		35,463,971	$	411,949,485


				411,949,485


Total Affiliated Investment Companies (Cost $6,874,423,259)				7,720,446,337

UNAFFILIATED INVESTMENT COMPANIES–7.92%
Commodity Fund–0.93%
**PIMCO CommodityRealReturn Strategy Portfolio		14,916,404		77,863,627


				77,863,627

Equity Funds–1.90%
*Delaware VIP^® Trust–
Delaware VIP U.S. Growth Series		2,948,272		38,032,709
Delaware VIP Value Series		1,504,240		42,585,025
XFidelity^® Variable Life Insurance Products–Fidelity VIP Mid Cap Portfolio		2,174,391		79,300,041


				159,917,775

Fixed Income Funds–0.73%
^²American Funds^®–
American Funds Mortgage Fund		1,602,479		16,297,207
*Delaware VIP^® Trust–
Delaware VIP Diversified Income Series		4,199,355		45,185,059


				61,482,266

International Equity Fund–0.91%
Ishares MSCI Emerging Markets ETF		1,842,413		76,570,684


				76,570,684

Money Market Fund–3.45%
Dreyfus Treasury & Agency Cash
Management Fund - Institutional Shares		290,272,753		290,272,754


				290,272,754


Total Unaffiliated Investment Companies (Cost $621,949,125)				666,107,106

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES–95.94%
Equity Funds–31.16%
*Lincoln Variable Insurance Products Trust–
LVIP Delaware Special Opportunities Fund		20,108	$	832,901
†LVIP SSgA Mid-Cap Index Fund		43,712		416,882
LVIP SSgA S&P 500 Index Fund		751,047		10,745,230
LVIP SSgA Small-Cap Index Fund		49,564		1,236,367
LVIP T. Rowe Price Structured Mid-Cap Growth Fund		20,093		423,673


				13,655,053

Fixed Income Funds–42.64%
*Lincoln Variable Insurance Products Trust–
LVIP BlackRock Inflation Protected Bond Fund		369,257		3,867,231
LVIP Delaware Bond Fund		61,920		870,784
LVIP Delaware Diversified Floating Rate Fund		212,857		2,180,506
LVIP JPMorgan High Yield Fund		73,956		860,260
†LVIP PIMCO Low Duration Bond Fund		174,149		1,749,156
LVIP SSgA Bond Index Fund		800,332		9,158,196


				18,686,133

International Equity Funds–15.22%
*Lincoln Variable Insurance Products Trust–
LVIP Clarion Global Real Estate Fund		132,915		1,224,416
LVIP SSgA International Index Fund		587,099		5,448,278


				6,672,694


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES (continued)
International Fixed Income Fund–6.92%
*Lincoln Variable Insurance Products Trust–
LVIP Global Income Fund		261,227	$	3,034,412


				3,034,412


Total Affiliated Investment Companies (Cost $31,140,457)				42,048,292

UNAFFILIATED INVESTMENT COMPANIES–3.82%
Fixed Income Fund–1.00%
çAmerican Funds^®–
Mortgage Bond Fund		40,935		436,366


				436,366

International Equity Fund–0.91%
*Delaware VIP Trust–
Delaware VIP Emerging Markets Series		18,598		398,739


				398,739


Money Market Fund–1.91%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		837,355		837,355


				837,355


Total Unaffiliated Investment Companies (Cost $1,468,243)				1,672,460

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES–94.94%
Equity Funds–36.72%
*Lincoln Variable Insurance Products Trust–
LVIP Baron Growth Opportunities Fund		34,261	$	1,543,380
LVIP Delaware Special Opportunities Fund		73,285		3,035,543
†LVIP SSgA Mid-Cap Index Fund		159,313		1,519,364
LVIP SSgA S&P 500 Index Fund		3,175,631		45,433,750
LVIP SSgA Small-Cap Index Fund		180,635		4,505,939
LVIP SSgA Small-Mid Cap 200 Fund		102,684		1,490,554
LVIP T. Rowe Price Structured Mid-Cap Growth Fund		73,233		1,544,196


				59,072,726

Fixed Income Funds–32.52%
*Lincoln Variable Insurance Products Trust–
LVIP BlackRock Inflation Protected Bond Fund		897,184		9,396,207
LVIP Delaware Diversified Floating Rate Fund		465,518		4,768,765
LVIP JPMorgan High Yield Fund		134,780		1,567,756
†LVIP PIMCO Low Duration Bond Fund		634,781		6,375,739
LVIP SSgA Bond Index Fund		2,639,241		30,200,831


				52,309,298

International Equity Funds–19.81%
*Lincoln Variable Insurance Products Trust–
LVIP Clarion Global Real Estate Fund		484,247		4,460,882


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES (continued)
International Equity Funds (continued)
LVIP SSgA Emerging Markets 100 Fund		147,584	$	1,446,909
LVIP SSgA International Index Fund		2,798,025		25,965,668


				31,873,459

International Fixed Income Fund–5.89%
*Lincoln Variable Insurance Products Trust–
LVIP Global Income Fund		816,110		9,479,933


				9,479,933

Total Affiliated Investment Companies (Cost $110,569,275)				152,735,416

UNAFFILIATED INVESTMENT COMPANIES–4.79%
International Equity Fund–1.81%
*Delaware VIP Trust–
Delaware VIP Emerging Markets Series		135,536		2,905,886


				2,905,886


Money Market Fund–2.98%
Dreyfus Treasury & Agency Cash
Management Fund - Institutional Shares		4,795,618		4,795,618


				4,795,618

Total Unaffiliated Investment Companies (Cost $6,656,764)				7,701,504

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES–92.45%
Equity Funds–39.52%
*Lincoln Variable Insurance Products Trust–
LVIP Baron Growth Opportunities Fund		35,881	$	1,616,380
LVIP Delaware Special Opportunities Fund		76,747		3,178,946
LVIP MFS Value Fund		45,447		1,638,923
†LVIP SSgA Mid-Cap Index Fund		166,839		1,591,139
LVIP SSgA S&P 500 Index Fund		3,669,956		52,506,061
LVIP SSgA Small-Mid Cap 200 Fund		107,532		1,560,928
†LVIP T. Rowe Price Growth Stock Fund		54,647		1,634,119
LVIP T. Rowe Price Structured Mid-Cap Growth Fund		153,394		3,234,469


				66,960,965

Fixed Income Funds–25.50%
*Lincoln Variable Insurance Products Trust–
LVIP BlackRock Inflation Protected Bond Fund		469,821		4,920,434
LVIP Delaware Diversified Floating Rate Fund		325,042		3,329,731
LVIP JPMorgan High Yield Fund		141,158		1,641,946
†LVIP PIMCO Low Duration Bond Fund		332,423		3,338,852
LVIP SSgA Bond Index Fund		2,618,762		29,966,494


				43,197,457

International Equity Funds–22.55%
*Lincoln Variable Insurance Products Trust–
LVIP Clarion Global Real Estate Fund		507,076		4,671,183
LVIP Mondrian International Value Fund		173,982		3,233,453
LVIP SSgA Emerging Markets 100 Fund		154,540		1,515,110
LVIP SSgA International Index Fund		3,102,676		28,792,831


				38,212,577


	Number of		Value
	Shares		(U.S. $)

AFFILIATED INVESTMENT COMPANIES (continued)
International Fixed Income Fund–4.88%
*Lincoln Variable Insurance Products Trust–
LVIP Global Income Fund		712,290	$	8,273,955


				8,273,955

Total Affiliated Investment Companies (Cost $111,757,905)				156,644,954

UNAFFILIATED INVESTMENT COMPANIES–7.49%
Commodity Fund–0.92%
**PIMCO CommodityRealReturn Strategy Portfolio		299,395		1,562,840


				1,562,840

International Equity Fund–2.69%
*Delaware VIP Trust–
Delaware VIP Emerging Markets Series		212,892		4,564,395


				4,564,395

Money Market Fund–3.88%
Dreyfus Treasury & Agency Cash Management Fund-Institutional Shares		6,565,775		6,565,775


				6,565,775

Total Unaffiliated Investment Companies (Cost $11,440,912)				12,693,010

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES–91.33%
Equity Funds–44.88%
*Lincoln Variable Insurance Products Trust–
LVIP Baron Growth Opportunities Fund		49,441	$	2,227,213
LVIP Delaware Special Opportunities Fund		52,879		2,190,288
LVIP MFS Value Fund		62,618		2,258,132
†LVIP SSgA Mid-Cap Index Fund		114,950		1,096,274
LVIP SSgA S&P 500 Index Fund		2,844,369		40,694,391
LVIP SSgA Small-Mid Cap 200 Fund		74,093		1,075,538
†LVIP T. Rowe Price Growth Stock Fund		37,649		1,125,817
LVIP T. Rowe Price Structured Mid-Cap Growth Fund		105,681		2,228,383


				52,896,036

Fixed Income Funds–15.55%
*Lincoln Variable Insurance Products Trust–
LVIP BlackRock Inflation Protected Bond Fund		107,895		1,129,984
LVIP JPMorgan High Yield Fund		97,248		1,131,184
†LVIP PIMCO Low Duration Bond Fund		228,999		2,300,068
LVIP SSgA Bond Index Fund		1,202,709		13,762,604


				18,323,840

International Equity Funds–27.03%
*Lincoln Variable Insurance Products Trust–
LVIP Clarion Global Real Estate Fund		349,446		3,219,098
LVIP MFS International Growth Fund		311,205		4,407,909
LVIP Mondrian International Value Fund		239,735		4,455,481


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES (continued)
International Equity Funds (continued)
LVIP SSgA Emerging Markets 100 Fund		106,501	$	1,044,139
LVIP SSgA International Index Fund		2,018,944		18,735,801


				31,862,428

International Fixed Income Fund–3.87%
*Lincoln Variable Insurance Products Trust–
LVIP Global Income Fund		392,566		4,560,041


				4,560,041

Total Affiliated Investment Companies (Cost $71,877,376)				107,642,345

UNAFFILIATED INVESTMENT COMPANIES–8.67%
Commodity Fund–0.91%
**PIMCO CommodityRealReturn Strategy Portfolio		206,307		1,076,925


				1,076,925

International Equity Fund–2.67%
*Delaware VIP Trust–
Delaware VIP Emerging Markets Series		146,709		3,145,438


				3,145,438

Money Market Fund–5.09%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		5,994,744		5,994,744


				5,994,744

Total Unaffiliated Investment Companies (Cost $9,343,451)				10,217,107

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES–89.11%
Equity Funds–48.66%
*Lincoln Variable Insurance Products Trust–
LVIP Baron Growth Opportunities Fund		4,659	$	209,869
LVIP Delaware Special Opportunities Fund		9,967		412,850
LVIP MFS Value Fund		11,799		425,507
†LVIP SSgA Mid-Cap Index Fund		21,666		206,630
LVIP SSgA S&P 500 Index Fund		595,537		8,520,355
LVIP SSgA Small-Cap Index Fund		8,190		204,292
LVIP SSgA Small-Mid Cap 200 Fund		27,935		405,511
†LVIP T. Rowe Price Growth Stock Fund		7,095		212,165
LVIP T. Rowe Price Structured Mid-Cap Growth Fund		19,917		419,963


				11,017,142

Fixed Income Funds–5.71%
*Lincoln Variable Insurance Products Trust–
LVIP BlackRock Inflation Protected Bond Fund		20,332		212,939
†LVIP PIMCO Low Duration Bond Fund		21,576		216,710
LVIP SSgA Bond Index Fund		75,538		864,377


				1,294,026

International Equity Funds–33.79%
*Lincoln Variable Insurance Products Trust–
LVIP Clarion Global Real Estate Fund		87,858		809,346
LVIP MFS International Growth Fund		43,994		623,127
LVIP Mondrian International Value Fund		45,184		839,742
LVIP SSgA Emerging Markets 100 Fund		40,169		393,821
LVIP SSgA International Index Fund		537,245		4,985,638


				7,651,674

International Fixed Income Fund–0.95%
*Lincoln Variable Insurance Products Trust–
LVIP Global Income Fund		18,492		214,805


				214,805

Total Affiliated Investment Companies (Cost $15,082,904)				20,177,647


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES–10.76%
Commodity Fund–0.90%
**PIMCO CommodityRealReturn Strategy Portfolio		38,900	$	203,059


				203,059

International Equity Fund–2.62%
*Delaware VIP Trust–
Delaware VIP Emerging Markets Series		27,666		593,169


				593,169

Money Market Fund–7.24%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		1,639,474		1,639,474


				1,639,474

Total Unaffiliated Investment Companies (Cost $2,327,270)				2,435,702

The use of futures contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The notional value presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

DCOMMON STOCK–98.68%
Australia–1.07%
Rio Tinto		185,780	$	9,691,263

				9,691,263

Belgium–0.92%
†KBC Groep		157,375		8,381,574

				8,381,574

Brazil–1.57%
AMBEV ADR		546,165		3,577,381
BM&FBovespa		532,379		2,442,844
Itau Unibanco Holding ADR		249,841		3,467,793
Lojas Renner		50,252		1,453,312
M Dias Branco		83,802		3,361,462

				14,302,792

Canada–4.48%
Canadian National Railway		389,200		27,617,632
Dollarama		75,339		6,391,218
Suncor Energy		187,118		6,772,240

				40,781,090

Chile–0.16%
Banco Santander Chile ADR		65,830		1,454,185

				1,454,185

nChina–0.90%
Guangzhou Automobile Group		3,485,600		3,371,199
Want Want China Holdings		3,828,000		4,772,151

				8,143,350

Denmark–3.44%
Carlsberg Class B		139,757		12,426,112
Chr Hansen Holding		151,538		5,857,411
Novo Nordisk Class B		270,954		12,965,076

				31,248,599

Finland–0.23%
Kone Class B		52,396		2,105,892

				2,105,892

France–14.17%
Air Liquide		69,324		8,455,973
Cie Generale d’Optique Essilor International		57,779		6,344,938
Danone		370,542		24,805,674
Dassault Systemes		123,829		7,954,932
Legrand		80,739		4,201,125
L’Oreal		55,490		8,810,240
LVMH Moet Hennessy Louis Vuitton		132,024		21,461,949
Pernod-Ricard		168,604		19,090,067
Publicis Groupe		102,619		7,047,334
Schneider Electric		196,312		15,076,070
Technip		66,527		5,597,255

				128,845,557


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Germany–8.78%
Adidas		61,267	$	4,585,141
Bayer		169,467		23,738,562
Brenntag		204,162		10,033,995
Fresenius Medical Care		84,762		5,920,577
Linde		82,346		15,825,309
SAP		125,084		9,021,434
Symrise		201,330		10,723,827

				79,848,845

nHong Kong–3.27%
AIA Group		3,646,200		18,853,543
Dairy Farm International Holdings		297,000		2,830,410
Li & Fung		7,086,000		8,048,902

				29,732,855

India–0.77%
HDFC Bank ADR		151,011		7,034,092

				7,034,092

Ireland–3.78%
Accenture Class A		232,067		18,871,688
Experian		654,829		10,440,278
Paddy Power		70,758		5,110,430

				34,422,396

Israel–1.24%
NICE Systems ADR		276,609		11,282,881

				11,282,881

Italy–1.60%
Prysmian		389,465		7,236,338
†Saipem		343,422		7,304,793

				14,541,131

Japan–12.33%
Aeon Financial Service		309,300		6,619,497
Honda Motor		560,500		19,421,876
Inpex		699,700		9,886,337
Japan Tobacco		515,200		16,757,565
Lawson		105,900		7,406,675
Nippon Paint		129,000		2,899,603
Nitto Denko		91,100		4,996,731
OBIC		317,800		11,359,832
SoftBank		149,600		10,488,984
Sundrug		136,500		6,067,911
Toyota Motor		120,200		7,083,870
Unicharm		402,600		9,179,787

				112,168,668

Netherlands–0.55%
Akzo Nobel		72,825		4,990,200

				4,990,200


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Panama–1.02%
Copa Holdings Class A		86,524	$	9,283,160

				9,283,160

Peru–0.87%
Credicorp		51,636		7,920,446

				7,920,446

Portugal–0.21%
Jeronimo Martins		174,704		1,923,789

				1,923,789

Republic of Korea–0.87%
NAVER		3,098		2,369,862
Samsung Electronics		4,973		5,581,337

				7,951,199

Russia–0.33%
Sberbank of Russia ADR		379,507		3,005,695

				3,005,695

Spain–0.74%
Amadeus IT Holding		74,550		2,789,141
Inditex		142,562		3,939,032

				6,728,173

Sweden–1.38%
Ericsson Class B		988,444		12,547,147

				12,547,147

Switzerland–11.18%
Cie Financiere Richemont		81,295		6,672,040
Julius Baer Group		191,332		8,588,044
Kuehne & Nagel International		42,531		5,372,900
Nestle		412,687		30,368,472
Roche Holding		56,436		16,736,010
Schindler Holding		38,965		5,289,754
Sonova Holding		76,212		12,182,424
UBS		946,024		16,509,464

				101,719,108

Taiwan–1.63%
MediaTek		259,000		3,835,618
Taiwan Semiconductor Manufacturing ADR		543,096		10,959,677

				14,795,295

Thailand–0.65%
Kasikornbank NVDR		817,500		5,923,000

				5,923,000

United Kingdom–19.31%
Aberdeen Asset Management		240,185		1,559,402
Bellway		157,318		3,996,292
BG Group		699,164		12,920,928
Burberry Group		459,360		11,251,941


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
United Kingdom (continued)
Capita		557,586	$	10,521,427
Compass Group		1,463,248		23,637,690
Croda International		167,415		5,571,769
Diageo		488,404		14,132,768
HSBC Holdings		1,056,109		10,719,197
Intertek Group		183,876		7,812,713
Reckitt Benckiser Group		179,796		15,593,500
Rolls-Royce Holdings		734,530		11,484,751
Serco Group		354,058		1,642,109
Standard Chartered		609,059		11,260,676
Weir Group		340,442		13,808,301
Whitbread		171,417		11,543,305
WPP		407,759		8,196,625

				175,653,394

United States–1.23%
†Mettler-Toledo International		43,569		11,159,328

				11,159,328


Total Common Stock (Cost $830,196,955)				897,585,104


MONEY MARKET FUND–0.58%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		5,273,136		5,273,136


Total Money Market Fund (Cost $5,273,136)				5,273,136

The following foreign currency exchange contracts were outstanding at September 30, 2014:

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing during the period. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–99.23%
Aerospace & Defense–7.25%
Honeywell International		203,586	$	18,957,928
Lockheed Martin		130,571		23,865,767
Northrop Grumman		68,369		9,008,299
United Technologies		210,136		22,190,362

				74,022,356

Air Freight & Logistics–1.52%
United Parcel Service Class B		157,496		15,480,282

				15,480,282

Auto Components–1.65%
Delphi Automotive		122,190		7,495,135
Johnson Controls		213,313		9,385,772

				16,880,907

Banks–10.32%
Citigroup		51,501		2,668,782
JPMorgan Chase		735,302		44,294,403
PNC Financial Services Group		88,331		7,559,367
U.S. Bancorp		406,093		16,986,870
Wells Fargo		651,149		33,775,099

				105,284,521

Beverages–2.00%
Diageo		499,564		14,455,701
Dr Pepper Snapple Group		92,270		5,933,884

				20,389,585

Capital Markets–6.39%
Bank of New York Mellon		329,545		12,763,278
BlackRock		29,581		9,712,034
Franklin Resources		242,913		13,265,479
Goldman Sachs Group		107,887		19,804,817
State Street		130,940		9,638,493

				65,184,101

Chemicals–1.43%
PPG Industries		69,102		13,595,127
Valspar		12,811		1,011,941

				14,607,068

Commercial Services & Supplies–1.03%
Tyco International		235,045		10,475,956

				10,475,956

Containers & Packaging–0.46%
†Crown Holdings		105,567		4,699,843

				4,699,843

Diversified Financial Services–1.17%
McGraw-Hill Financial		52,873		4,465,125
Moody’s		10,925		1,032,413
NASDAQ OMX Group		151,410		6,422,812

				11,920,350


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Diversified Telecommunication Services–2.17%
AT&T		87,793	$	3,093,825
Verizon Communications		380,642		19,028,294

				22,122,119

Electric Utilities–0.34%
Duke Energy		46,727		3,493,778

				3,493,778

Electrical Equipment–0.83%
Eaton		133,926		8,486,891

				8,486,891

Food & Staples Retailing–1.91%
CVS Health		244,521		19,461,426

				19,461,426

Food Products–4.20%
Danone		113,128		7,573,275
General Mills		294,930		14,879,219
Kellogg		47,085		2,900,436
Nestle		237,369		17,467,315

				42,820,245

Health Care Equipment & Supplies–3.87%
Abbott Laboratories		291,907		12,140,412
Covidien		98,784		8,545,804
Medtronic		194,704		12,061,913
St. Jude Medical		112,371		6,756,868

				39,504,997

Health Care Providers & Services–1.03%
†Express Scripts Holding		134,202		9,478,687
Quest Diagnostics		16,778		1,018,089

				10,496,776

Hotels, Restaurants & Leisure–1.01%
McDonald’s		108,721		10,307,838

				10,307,838

Household Products–0.53%
Procter & Gamble		64,664		5,414,963

				5,414,963

Industrial Conglomerates–3.29%
3M		146,474		20,752,436
Danaher		168,287		12,786,446

				33,538,882

Insurance–7.60%
ACE		104,255		10,933,222
Aon		120,353		10,551,347
Chubb		80,424		7,325,018
MetLife		376,120		20,205,166
Prudential Financial		121,501		10,684,798


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Insurance (continued)
Travelers		189,900	$	17,839,206

				77,538,757

IT Services–5.42%
Accenture Class A		269,976		21,954,448
Fidelity National Information Services		86,201		4,853,116
†Fiserv		105,101		6,793,203
International Business Machines		100,198		19,020,586
Western Union		167,044		2,679,386

				55,300,739

Leisure Products–0.62%
Hasbro		88,231		4,852,264
Mattel		48,132		1,475,246

				6,327,510

Life Sciences Tools & Services–0.96%
Thermo Fisher Scientific		80,474		9,793,686

				9,793,686

Machinery–1.49%
Illinois Tool Works		52,058		4,394,736
Pentair		63,168		4,136,872
Stanley Black & Decker		75,483		6,702,136

				15,233,744

Media–4.83%
Comcast Class A		219,885		11,763,847
Disney (Walt)		114,851		10,225,185
Omnicom Group		165,860		11,421,120
†Time		11,607		271,952
Time Warner		108,544		8,163,594
Viacom Class B		97,302		7,486,416

				49,332,114

Multiline Retail–1.71%
Kohl’s		47,393		2,892,395
Target		233,056		14,607,950

				17,500,345

Oil, Gas & Consumable Fuels–6.03%
Apache		51,739		4,856,740
Chevron		141,337		16,864,331
EOG Resources		41,103		4,070,019
Exxon Mobil		234,349		22,040,523
Occidental Petroleum		142,706		13,721,182

				61,552,795

Pharmaceuticals–8.37%
Johnson & Johnson		361,519		38,534,310
Merck		183,395		10,871,656
Novartis		36,611		3,457,269
Pfizer		982,576		29,054,772
Roche Holding		10,504		3,114,945


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Pharmaceuticals (continued)
Zoetis		8,792	$	324,864

				85,357,816

Road & Rail–0.76%
Canadian National Railway		109,516		7,771,255

				7,771,255

Semiconductors & Semiconductor Equipment–0.76%
Texas Instruments		161,745		7,713,619

				7,713,619

Software–1.13%
Oracle		300,523		11,504,020

				11,504,020

Specialty Retail–1.22%
Advance Auto Parts		46,180		6,017,254
†Bed Bath & Beyond		37,865		2,492,653
Staples		328,240		3,971,704

				12,481,611

Tobacco–5.36%
Altria Group		116,090		5,333,175
Imperial Tobacco Group		49,491		2,137,323
Lorillard		176,379		10,566,866
Philip Morris International		438,890		36,603,426

				54,640,790

Wireless Telecommunication Services–0.57%
Vodafone Group		1,749,988		5,798,635

				5,798,635


Total Common Stock (Cost $644,583,560)				1,012,440,320


CONVERTIBLE PREFERRED STOCK–0.08%
United Technologies 7.50% exercise price $98.52, expiration date 8/1/15		14,230		838,005


Total Convertible Preferred Stock (Cost $715,786)				838,005


MONEY MARKET FUND–0.56%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		5,667,519		5,667,519


Total Money Market Fund (Cost $5,667,519)				5,667,519

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing during the period. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

COMMON STOCK–98.04%
Aerospace & Defense–6.47%
Curtiss-Wright		27,985	$	1,844,771
†Esterline Technologies		29,380		3,269,112
†Moog Class A		44,555		3,047,562
†Orbital Sciences		78,735		2,188,833
†Teledyne Technologies		7,840		737,038

				11,087,316

Auto Components–0.76%
Goodyear Tire & Rubber		57,220		1,292,314

				1,292,314

Banks–6.28%
BankUnited		66,874		2,038,988
Comerica		67,115		3,346,354
Iberiabank		32,530		2,033,450
Zions Bancorp		115,105		3,344,951

				10,763,743

Beverages–1.09%
Treasury Wine Estates		502,623		1,865,903

				1,865,903

Capital Markets–1.13%
LPL Financial Holdings		41,930		1,930,877
†*@=Solar Cayman Escrow		26,800		1,876

				1,932,753

Chemicals–5.98%
Cabot		50,060		2,541,546
Celanese Class A		41,500		2,428,580
Methanex		78,875		5,268,850

				10,238,976

Communications Equipment–1.35%
†ARRIS Group		81,600		2,313,768

				2,313,768

Containers & Packaging–0.96%
†Owens-Illinois		45,055		1,173,683
Packaging Corp of America		7,445		475,140

				1,648,823

Electric Utilities–3.08%
Great Plains Energy		61,480		1,485,972
Portland General Electric		66,550		2,137,586
Westar Energy		48,515		1,655,332

				5,278,890

Electrical Equipment–4.17%
†Generac Holdings		43,600		1,767,544
Hubbell Class B		26,940		3,247,078
†Sensata Technologies Holding		47,640		2,121,409

				7,136,031


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Electronic Equipment, Instruments & Components–2.26%
†Arrow Electronics		69,905	$	3,869,242

				3,869,242

Energy Equipment & Services–1.13%
Trican Well Service		164,900		1,928,999

				1,928,999

Food Products–2.15%
Ebro Foods		50,185		951,464
Ingredion		35,910		2,721,619

				3,673,083

Gas Utilities–1.95%
UGI		97,978		3,340,053

				3,340,053

Health Care Providers & Services–2.97%
†Brookdale Senior Living		92,265		2,972,778
†WellCare Health Plans		35,050		2,114,917

				5,087,695

Hotels, Restaurants & Leisure–1.56%
†Norwegian Cruise Line Holdings		74,145		2,670,703

				2,670,703

Household Durables–4.67%
Lennar Class A		58,795		2,283,010
Newell Rubbermaid		106,420		3,661,912
†Toll Brothers		65,870		2,052,509

				7,997,431

Insurance–9.46%
Argo Group International Holdings		37,035		1,863,231
Hanover Insurance Group		48,230		2,962,287
†NN Group		14,653		425,226
Reinsurance Group of America		51,216		4,103,938
StanCorp Financial Group		27,400		1,731,132
Unum Group		71,215		2,448,372
XL Group		80,565		2,672,341

				16,206,527

IT Services–2.08%
Booz Allen Hamilton Holding		54,525		1,275,885
†Teradata		54,580		2,287,994

				3,563,879

Leisure Products–1.00%
†Performance Sports Group		106,800		1,716,276

				1,716,276

Machinery–1.55%
Barnes Group		87,230		2,647,431

				2,647,431


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Media–2.35%
AMC Entertainment Holdings		20,430	$	469,686
Interpublic Group		92,525		1,695,058
Quebecor Class B		74,300		1,867,037

				4,031,781

Metals & Mining–0.72%
Reliance Steel & Aluminum		18,100		1,238,040

				1,238,040

Multi-Utilities–0.54%
Alliant Energy		16,685		924,516

				924,516

Oil, Gas & Consumable Fuels–4.74%
†Cobalt International Energy		117,715		1,600,924
†Diamondback Energy		35,985		2,690,958
HollyFrontier		27,645		1,207,534
†Newfield Exploration		24,940		924,526
QEP Resources		54,950		1,691,361

				8,115,303

Paper & Forest Products–1.00%
†Louisiana-Pacific		126,005		1,712,408

				1,712,408

Pharmaceuticals–4.32%
†Almirall		231,689		3,400,551
Ono Pharmaceutical		30,000		2,664,478
UCB		14,766		1,340,629

				7,405,658

Real Estate Investment Trusts–7.13%
American Assets Trust		56,880		1,875,334
Blackstone Mortgage Trust		80,560		2,183,176
Equity Lifestyle Properties		62,610		2,652,160
Extra Space Storage		49,120		2,533,118
Plum Creek Timber		35,394		1,380,720
SL Green Realty		15,625		1,583,125

				12,207,633

Real Estate Management & Development–1.04%
†Forest City Enterprises Class A		91,420		1,788,175

				1,788,175


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Semiconductors & Semiconductor Equipment–5.84%
Avago Technologies		8,460	$	736,020
Maxim Integrated Products		75,155		2,272,687
†Microsemi		106,460		2,705,149
†NXP Semiconductor		47,040		3,218,947
†RF Micro Devices		50,400		581,616
Skyworks Solutions		8,415		488,491

				10,002,910

Software–2.97%
†Check Point Software Technologies		25,735		1,781,891
†Verint Systems		59,435		3,305,180

				5,087,071

Specialty Retail–0.99%
DSW Class A		56,140		1,690,375

				1,690,375

Textiles, Apparel & Luxury Goods–1.17%
Samsonite International		620,700		1,998,429

				1,998,429

Thrifts & Mortgage Finance–0.62%
EverBank Financial		60,195		1,063,044

				1,063,044

Trading Companies & Distributors–2.56%
Rexel		58,318		1,088,348
†WESCO International		42,200		3,302,572

				4,390,920

Total Common Stock (Cost $141,989,904)				167,916,099


MONEY MARKET FUND–1.78%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		3,052,828		3,052,828


Total Money Market Fund (Cost $3,052,828)				3,052,828

The following foreign currency exchange contracts were outstanding at September 30, 2014:

The use of foreign currency exchange contracts involves elements of market risk and risks in excess of the amount recognized in the financial statements. The notional value presented above represents the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of each Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing during the period. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

DCOMMON STOCK–98.54%
Australia–2.44%
AMP		2,882,043	$	13,777,614
QBE Insurance Group		1,565,121		15,978,183

				29,755,797

Belgium–0.00%
†*=Ageas VVPR Strip		17,029		0

				0

France–12.90%
Cie de Saint-Gobain		522,249		23,902,515
†*=GDF Suez VVPR Strip		60,186		0
Orange		1,689,641		25,407,478
Sanofi		369,597		41,810,008
Societe Generale		284,603		14,530,264
Total		489,350		31,801,141
Vallourec		343,350		15,790,484
Vinci		74,754		4,343,874

				157,585,764

Germany–7.16%
Daimler		191,231		14,668,959
Deutsche Telekom		2,090,180		31,681,276
GEA Group		123,475		5,387,682
RWE		366,713		14,291,887
SAP		297,920		21,486,887

				87,516,691

nHong Kong–1.46%
China Mobile		1,542,000		17,823,203

				17,823,203

Israel–2.54%
Teva Pharmaceutical Industries ADR		577,100		31,019,125

				31,019,125

Italy–2.38%
ENI		1,222,159		29,129,789

				29,129,789

Japan–17.01%
Canon		1,031,100		33,570,807
Honda Motor		546,000		18,919,437
HOYA		501,000		16,830,201
Kao		675,900		26,357,419
Kirin Holdings		1,725,400		22,915,653
NTT DOCOMO		804,900		13,435,184
Seven & I Holdings		466,700		18,103,696
Takeda Pharmaceutical		673,400		29,277,994
Tokio Marine Holdings		705,400		21,885,957
Tokyo Electron		99,900		6,520,624

				207,816,972

Netherlands–5.81%
Koninklijke Ahold		1,686,303		27,306,206


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Netherlands (continued)
Reed Elsevier		650,677	$	14,769,006
Royal Dutch Shell Class A		754,509		28,900,340

				70,975,552

Singapore–5.47%
Jardine Matheson Holdings		198,100		11,806,760
Sembcorp Industries		3,186,000		12,937,310
Singapore Telecommunications		7,597,000		22,630,502
United Overseas Bank		1,106,486		19,429,535

				66,804,107

Spain–6.97%
Banco Santander		1,352,293		13,000,206
Iberdrola		5,537,971		39,661,712
Telefonica		2,097,557		32,468,693

				85,130,611

Sweden–2.21%
Ericsson Class B		1,224,846		15,547,996
TeliaSonera		1,648,182		11,401,899

				26,949,895

Switzerland–12.18%
†ABB		1,402,250		31,551,176
Nestle		430,723		31,695,690
Novartis		392,036		37,020,945
Syngenta		54,549		17,387,797
†Zurich Insurance Group		104,215		31,090,381

				148,745,989

Taiwan–0.90%
Taiwan Semiconductor Manufacturing ADR		545,616		11,010,531

				11,010,531

United Kingdom–19.11%
AMEC		851,733		15,243,418
BG Group		1,332,590		24,626,982
BP		3,207,475		23,577,757
Compass Group		179,580		2,900,982
G4S		4,536,085		18,435,092
GlaxoSmithKline		1,379,054		31,588,808
National Grid		2,301,593		33,132,278
Pearson		618,309		12,429,025
Tesco		8,017,308		24,200,149
Unilever		826,535		34,636,308
Vodafone Group		3,844,158		12,737,727

				233,508,526


Total Common Stock (Cost $1,012,633,192)				1,203,772,552

The following foreign currency exchange contracts were outstanding at September 30, 2014:

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Principal Amount°		Value (U.S. $)

AGENCY OBLIGATION–1.92%
Federal Home Loan Bank 0.25% 10/2/15		15,000,000	$	15,000,000


Total Agency Obligation (Cost $15,000,000)				15,000,000


CERTIFICATES OF DEPOSIT–15.07%
Banco Estado Chile 0.20% 10/7/14		20,000,000		20,000,000
Bank of Montreal Chicago 0.16% 11/12/14		20,000,000		20,000,000
Chase Bank USA 0.38% 12/4/14		15,000,000		15,000,000
HSBC Bank USA 0.23% 3/19/15		10,000,000		10,000,000
Nordea Bank Finland New York 0.15% 10/28/14		25,000,000		25,000,000
Toronto Dominion Bank New York 0.20% 2/17/15		15,000,000		15,000,000
UBS Stamford Connecticut 0.21% 10/21/14		12,500,000		12,500,000


Total Certificates of deposit (Cost $117,500,000)				117,500,000


COMMERCIAL PAPER–79.92%
Chemicals–6.40%
≠BASF 0.07% 11/24/14		25,000,000		24,997,375
≠duPont (E.I.) deNemours 0.09% 10/16/14		24,910,000		24,909,066

				49,906,441

Colleges & Universities–12.60%
≠Brown University 0.11% 11/5/14		4,000,000		3,999,572
Cornell University
≠0.09% 10/2/14		9,000,000		8,999,978
≠0.10% 10/7/14		7,500,000		7,499,875
≠0.10% 11/13/14		15,300,000		15,298,174
≠Dartmouth College 0.12% 11/18/14		12,600,000		12,597,984
≠Duke University 0.12% 12/10/14		4,000,000		3,999,067
Leland Stanford Junior University
≠0.09% 10/22/14		12,772,000		12,771,330
≠0.10% 11/5/14		1,070,000		1,069,877
≠0.11% 11/5/14		10,000,000		9,998,852
≠University of Chicago 0.10% 11/18/14		5,000,000		4,999,333
Yale University
≠0.08% 10/22/14		7,500,000		7,499,650
≠0.09% 10/6/14		9,500,000		9,499,881

				98,233,573

Commercial Banks–25.74%
Abbey National North America 0.06% 10/1/14		37,000,000		37,000,000


	Principal Amount°		Value (U.S. $)

COMMERCIAL PAPER (continued)
Commercial Banks (continued)
BNP Paribas Finance 0.01% 10/1/14		37,000,000	$	37,000,000
≠HSBC USA 0.20% 1/12/15		25,000,000		24,985,694
Lloyds Bank
≠0.17% 1/5/15		10,000,000		9,995,600
≠0.21% 11/24/14		25,000,000		24,992,125
≠Nordea Bank 0.16% 12/23/14		10,000,000		9,996,426
Rabobank USA Finance
≠0.21% 10/2/14		1,500,000		1,499,991
≠0.21% 11/12/14		15,000,000		14,996,325
≠Standard Chartered Bank 0.20% 12/4/14		20,320,000		20,312,775
≠Toronto Dominion Holding USA 0.18% 11/25/14		20,000,000		19,994,500

				200,773,436

Consumer Finance–5.13%
≠American Honda Finance 0.13% 10/6/14		10,000,000		9,999,819
≠John Deere Financial 0.09% 11/19/14		10,000,000		9,998,775
≠Toyota Motor Credit 0.16% 10/30/14		20,000,000		19,997,422

				39,996,016

Diversified Financial Services–6.41%
≠CPPIB Capital 0.13% 11/4/14		20,000,000		19,997,544
General Electric Capital
≠0.17% 10/7/14		10,000,000		9,999,717
≠0.19% 1/27/15		20,000,000		19,987,544

				49,984,805

Food & Staples Retailing–4.49%
Wal-Mart Stores 0.04% 10/1/14		35,000,000		35,000,000

				35,000,000

Industrial Conglomerates–1.92%
≠Danaher 0.09% 10/9/14		15,000,000		14,999,700

				14,999,700

Municipal Obligation–1.93%
≠St Joseph County, Indiana 0.14% 12/3/14		15,022,000		15,018,320

				15,018,320

Oil, Gas & Consumable Fuels–10.81%
≠Baker Hughes 0.04% 10/7/14		12,400,000		12,399,917
Exxon Mobil 0.01% 10/1/14		21,950,000		21,950,000
Koch Resources
≠0.07% 10/8/14		15,000,000		14,999,796
0.12% 10/1/14		20,000,000		20,000,000


	Principal Amount°		Value (U.S. $)

COMMERCIAL PAPER (continued)
Oil, Gas & Consumable Fuels (continued)
≠Total Capital Canada 0.11% 11/26/14		15,000,000	$	14,997,433

				84,347,146

Pharmaceuticals–4.49%
≠Abbott Laboratories 0.08% 12/23/14		25,000,000		24,995,389
≠GlaxoSmithKline Finance 0.13% 10/14/14		10,000,000		9,999,531

				34,994,920


Total Commercial Paper (Cost $623,254,357)				623,254,357


CORPORATE BONDS–2.35%
Capital Markets–1.04%
Bank of New York Mellon 4.95% 3/15/15		1,000,000		1,020,922
BlackRock 3.50% 12/10/14		7,000,000		7,042,971

				8,063,893

Commercial Banks–0.96%
ŸBank of Nova Scotia 0.26% 12/5/14		7,500,000		7,500,000

				7,500,000


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Consumer Finance–0.09%
#American Honda Finance 144A 1.45% 2/27/15		710,000	$	713,160

				713,160

Diversified Financial Services–0.26%
General Electric Capital 3.50% 6/29/15		2,000,000		2,047,882

				2,047,882


Total Corporate Bonds (Cost $18,324,935)				18,324,935


MUNICIPAL BOND–0.44%
*New York State Housing Finance Agency Revenue (Broadway) Series B 0.07% 10/1/14 (LOC-Wells Fargo Bank N.A.)		3,450,000		3,450,000


Total Municipal Bond (Cost $3,450,000)				3,450,000

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES–38.25%
Equity Funds–20.67%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA S&P 500 Index Fund		201,703	$	2,885,768
LVIP SSgA Small-Cap Index Fund		32,639		814,175

				3,699,943

International Equity Funds–17.58%
*Lincoln Variable Insurance Products Trust–
LVIP MFS International Growth Fund		70,124		993,235
LVIP SSgA International Index Fund		231,935		2,152,360

				3,145,595


Total Affiliated Investment Companies (Cost $6,881,061)				6,845,538


UNAFFILIATED INVESTMENT COMPANIES–62.15%
Equity Funds–41.44%
XAmerican Century VIP Mid Cap Value		18,000		334,973
**BlackRock Equity Dividend Fund		33,660		850,600
#Clearbridge Variable Appreciation Portfolio		28,899		1,018,974
XFidelity Variable Insurance Products - VIP Contrafund Portfolio		32,196		1,192,236
XFidelity^® Variable Life Insurance Products–Fidelity^® VIP Mid Cap Portfolio		9,039		329,642
Franklin Templeton Variable Insurance Products Trust–
Mutual Shares VIP Fund		44,596		1,008,320


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES (continued)
Equity Funds (continued)
Franklin Templeton Variable Insurance Products Trust–
Templeton Growth Securities		64,933	$	994,125
#Invesco V.I. Comstock Fund		44,972		844,127
#Invesco V.I. Core Equity Fund		20,800		843,421

				7,416,418

International Equity Funds–13.53%
**DFA International Core Equity Portfolio		119,742		1,476,421
iShares Core MSCI Emerging Markets ETF		18,893		945,406

				2,421,827

Money Market Fund–7.18%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		1,284,830		1,284,830

				1,284,830

Total Unaffiliated Investment Companies (Cost $11,128,877)				11,123,075

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES–3.06%
#•BAMLL Commercial Mortgage Securities Trust Series 2014-ICTS XCP 144A 0.83% 6/15/16		151,650,000	$	2,320,245
#•¿Commercial Mortgage Pass Through Certificates Series 2014-KYO A 144A 1.054% 6/11/27		3,200,000		3,203,126
JPMorgan Chase Commercial Mortgage Securities Trust
#Series 2002-CIB5 H 144A 5.50% 10/12/37		700,000		739,665
ŸSeries 2006-CIB15 A1A 5.811% 6/12/43		4,353,306		4,642,874
Series 2012-C8 A1 0.705% 10/15/45		634,999		634,939
Morgan Stanley Bank of America Merrill Lynch Trust Series 2012-C5 A1 0.916% 8/15/45		1,552,956		1,552,622
#@Selkirk Series SLKN 3 A 144A 1.86% 12/20/41		6,000,000		5,970,000
Wells Fargo Commercial Mortgage Trust Series 2012-LC5 A1 0.687% 10/15/45		1,165,754		1,163,602
WF-RBS Commercial Mortgage Trust Series 2012-C9 A1 0.673% 11/15/45		1,355,840		1,351,632


Total Commercial Mortgage-Backed Securities (Cost $21,683,226)				21,578,705


CORPORATE BONDS–66.26%
Aerospace & Defense–0.84%
Embraer Overseas 6.375% 1/24/17		1,500,000		1,653,000
Penerbangan Malaysia 5.625% 3/15/16		4,000,000		4,251,200

				5,904,200

Air Freight & Logistics–0.19%
#AWAS Aviation Capital 144A 7.00% 10/17/16		1,328,000		1,356,154

				1,356,154

Auto Components–0.30%
Schaeffler Finance 7.75% 2/15/17		EUR 1,500,000		2,135,072

				2,135,072

Automobiles–1.41%
Hyundai Capital America
#144A 1.45% 2/6/17		3,000,000		2,999,559
@1.625% 10/2/15		350,000		352,520
Kia Motors 3.625% 6/14/16		1,590,000		1,651,077


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Automobiles (continued)
#•Nissan Motor Acceptance 144A 0.935% 9/26/16		4,800,000	$	4,841,069
ŸPACCAR Financial 0.833% 12/6/18		100,000		101,093

				9,945,318

Building Products–0.54%
Lafarge
@6.20% 7/9/15		1,020,000		1,057,026
#144A 6.20% 7/9/15		470,000		488,189
Masco 6.125% 10/3/16		2,100,000		2,251,200

				3,796,415

Capital Markets–2.77%
Export-Import Bank of Korea 1.25% 11/20/15		1,300,000		1,306,981
Industrial Bank of Korea
2.375% 7/17/17		2,250,000		2,291,819
4.375% 8/4/15		1,150,000		1,183,828
Korea Development Bank
Ÿ0.857% 1/22/17		7,000,000		7,020,797
3.875% 5/4/17		2,000,000		2,117,622
4.00% 9/9/16		1,285,000		1,354,396
Korea Finance 2.25% 8/7/17		2,200,000		2,225,920
Malaysia Sukuk Global B 3.93% 6/4/15		2,000,000		2,043,160

				19,544,523

Commercial Banks–20.98%
Abbey National Treasury Services 2.35% 9/10/19		2,100,000		2,075,531
ŸBanco Bilbao Vizcaya Argentaria 0.983% 10/23/15		4,700,000		4,700,230
#Banco Bradesco 144A 4.50% 1/12/17		2,000,000		2,102,500
#Banco Continental via Continental Senior Trustees II 144A 5.75% 1/18/17		2,000,000		2,155,000
#Banco del Estado de Chile 144A 2.00% 11/9/17		2,000,000		2,017,738
#Banco Nacional de Desenvol-vimento Economico e Social 144A 3.375% 9/26/16		700,000		718,200
#Banco Santander Brasil 144A 4.25% 1/14/16		1,200,000		1,245,036
#•Banco Santander Chile 144A 1.834% 1/19/16		1,000,000		1,012,500
#Bank Nederlandse Gemeenten 144A 0.625% 9/15/16		8,800,000		8,779,654
Bank of America
Ÿ0.845% 8/25/17		1,000,000		1,003,283
5.30% 3/15/17		4,300,000		4,661,376


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
#•@Banque Federative du Credit Mutuel 144A 1.084% 1/20/17		3,000,000	$	3,024,933
BBVA Bancomer
4.50% 3/10/16		2,950,000		3,090,125
#144A 4.50% 3/10/16		200,000		209,500
ŸBPCE 0.865% 6/17/17		250,000		251,102
CIT Group
4.25% 8/15/17		5,200,000		5,265,000
#144A 4.75% 2/15/15		3,350,000		3,389,781
#•@Credit Agricole 144A 1.034% 4/15/19		1,100,000		1,110,194
ŸDBS Bank 0.844% 7/15/21		6,700,000		6,606,200
@Depfa ACS Bank 5.75% 3/28/17		1,100,000		1,212,244
Eksportfinans
2.00% 9/15/15		3,000,000		3,003,750
2.375% 5/25/16		5,000,000		5,018,500
3.00% 11/17/14		1,600,000		1,605,840
5.50% 6/26/17		100,000		108,125
ŸGoldman Sachs Group 0.683% 3/22/16		5,000,000		5,012,605
Hana Bank
Ÿ1.358% 11/9/16		750,000		758,617
1.375% 2/5/16		4,200,000		4,206,464
3.50% 10/25/17		3,300,000		3,456,192
4.50% 10/30/15		2,117,000		2,193,392
ŸHBOS 0.933% 9/6/17		3,000,000		2,999,736
Intesa Sanpaolo SpA 3.125% 1/15/16		1,500,000		1,534,969
#144A 3.625% 8/12/15		6,000,000		6,131,340
Itau Unibanco 1.19% 6/26/15		3,000,000		3,000,297
JPMorgan Chase 4.10% 5/17/18		AUD 1,480,000		1,305,452
ŸKookmin Bank 1.11% 1/27/17		3,500,000		3,528,126
Korea Exchange Bank 1.75% 9/27/15		200,000		201,369
Macquarie Bank
#•144A 1.026% 3/24/17		5,000,000		5,047,175
#144A 1.65% 3/24/17		3,795,000		3,796,939
#@144A 5.00% 2/22/17		50,000		53,913
Mizuho Bank Ÿ0.663% 4/16/17		1,100,000		1,101,519
#•@144A 0.663% 4/16/17		2,700,000		2,703,729
QNB Finance 3.125% 11/16/15		3,000,000		3,071,250
Regions Bank 7.50% 5/15/18		1,000,000		1,167,759
ŸRoyal Bank of Scotland 0.934% 4/11/16		1,500,000		1,506,000
Royal Bank of Scotland Group
2.55% 9/18/15		5,000,000		5,075,350
5.05% 1/8/15		274,000		276,621
#Sberbank of Russia Via SB Capital 144A 4.95% 2/7/17		2,900,000		2,925,085
Shinhan Bank
Ÿ0.882% 4/8/17		2,000,000		2,006,716


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
#•144A 0.882% 4/8/17		1,000,000	$	1,003,358
#@Standard Chartered 144A 2.40% 9/8/19		6,000,000		6,065,844
Standard Chartered Bank Hong Kong 5.875% 6/24/20		100,000		111,141
#Swedbank Hypotek 144A 2.95% 3/28/16		2,600,000		2,687,383
ŸUBS 0.873% 8/14/19		2,500,000		2,516,093
ŸUS Bank 3.778% 4/29/20		1,250,000		1,272,111
ŸWells Fargo 0.633% 9/14/18		7,000,000		7,001,281
Woori Bank 7.00% 2/2/15		50,000		51,014

				148,135,182

Commercial Services & Supplies–0.07%
#Penske Truck Leasing 144A 3.125% 5/11/15		500,000		507,141

				507,141

Construction & Engineering–0.93%
ŸCheung Kong Infrastructure Finance BVI 0.933% 6/20/17		3,500,000		3,486,921
#Korea Land & Housing 144A 1.875% 8/2/17		1,000,000		1,002,993
Toll Brothers Finance 8.91% 10/15/17		1,800,000		2,097,000

				6,586,914

Consumer Finance–8.30%
#AerCap Ireland Capital 144A 2.75% 5/15/17		4,400,000		4,301,000
Ally Financial
2.75% 1/30/17		200,000		196,500
3.50% 7/18/16		2,000,000		2,027,500
4.625% 6/26/15		1,050,000		1,067,220
5.50% 2/15/17		4,000,000		4,170,000
6.75% 12/1/14		500,000		503,750
8.30% 2/12/15		800,000		818,000
American Express Credit 1.55% 9/22/17		3,000,000		3,000,102
Ÿ@BMW US Capital 0.574% 6/2/17		200,000		200,331
ŸFord Motor Credit 1.065% 3/12/19		10,200,000		10,251,051
General Motors Financial
2.625% 7/10/17		400,000		402,082
2.75% 5/15/16		2,600,000		2,624,375
3.00% 9/25/17		3,700,000		3,741,625
International Lease Finance
4.875% 4/1/15		300,000		305,063
5.75% 5/15/16		2,400,000		2,512,500
8.625% 9/15/15		1,300,000		1,376,505
#LeasePlan 144A 2.50% 5/16/18		700,000		702,724
Navient 3.875% 9/10/15		300,000		304,500


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Consumer Finance (continued)
6.00% 1/25/17		300,000	$	314,625
6.25% 1/25/16		7,800,000		8,115,900
#•Nissan Motor Acceptance 144A 0.784% 3/3/17		3,180,000		3,192,570
RCI Banque
4.60% 4/12/16		760,000		798,440
#144A 4.60% 4/12/16		2,443,000		2,566,565
Synchrony Financial 1.875% 8/15/17		2,000,000		2,004,112
#•Volkswagen Group of America Finance 144A 0.605% 5/23/17		3,100,000		3,105,211

				58,602,251

Diversified Consumer Services–0.43%
Hutchison Whampoa International
4.625% 9/11/15		100,000		103,550
#144A 4.625% 9/11/15		2,800,000		2,899,411

				3,002,961

Diversified Financial Services–2.33%
Amsouth Bank 5.20% 4/1/15		3,500,000		3,572,041
#Denali Borrower 144A
5.625% 10/15/20		700,000		721,875
Hyundai Capital Services
•1.034% 3/18/17		3,000,000		3,009,075
#•144A 1.034% 3/18/17		1,135,000		1,139,815
•JPMorgan Chase Bank
0.564% 6/13/16		4,800,000		4,800,014
#•@Piper Jaffray 144A
4.733% 11/30/15		3,200,000		3,224,458

				16,467,278

Diversified Telecommunication Services–7.03%
AT&T
•0.653% 3/30/17		8,500,000		8,522,075
•0.905% 3/11/19		750,000		756,391
KT 3.875% 1/20/17		6,000,000		6,284,352
#Ooredoo International Finance
144A 3.375% 10/14/16		3,000,000		3,112,500
Orange 5.00% 5/12/16		GBP 1,700,000		2,910,915
Telecom Italia Capital
5.25% 10/1/15		6,000,000		6,187,500
Telefonica Emisiones
3.729% 4/27/15		2,975,000		3,025,646
3.992% 2/16/16		1,560,000		1,623,865
4.949% 1/15/15		3,500,000		3,541,577
Verizon Communications
•1.005% 6/17/19		4,390,000		4,455,973
•1.984% 9/14/18		5,000,000		5,272,115
2.50% 9/15/16		3,000,000		3,080,346


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Telecommunication Services (continued)
4.90% 9/15/15		343,000	$	357,176
5.55% 2/15/16		484,000		514,511

				49,644,942

Electric Utilities–1.42%
#Enel Finance International 144A 3.875% 10/7/14		259,000		259,073
Enel SpA 4.875% 2/20/18		EUR 100,000		143,377
FirstEnergy 2.75% 3/15/18		1,900,000		1,909,126
#Korea East-West Power 144A 2.50% 7/16/17		1,000,000		1,021,386
Korea Hydro & Nuclear Power
#144A 2.875% 10/2/18		1,750,000		1,778,073
#144A 3.125% 9/16/15		1,800,000		1,837,476
Korea Western Power 3.125% 5/10/17		2,800,000		2,893,472
#144A 3.125% 5/10/17		200,000		206,677

				10,048,660

Food Products–0.14%
Tyson Foods 2.65% 8/15/19		1,000,000		1,002,991

				1,002,991

Gas Utilities–1.11%
#Korea Gas 144A 2.25% 7/25/17		1,200,000		1,218,030
Sabine Pass LNG 7.50% 11/30/16		6,200,000		6,603,620

				7,821,650

Health Care Equipment & Supplies–0.43%
Covidien International Finance 1.35% 5/29/15		3,000,000		3,014,223

				3,014,223

Health Care Providers & Services–0.75%
Humana 2.625% 10/1/19		1,000,000		1,000,552
McKesson 0.95% 12/4/15		3,000,000		3,004,518
#Universal Health Services 144A 3.75% 8/1/19		1,300,000		1,298,375

				5,303,445

Household Durables–0.13%
Newell Rubbermaid 2.00% 6/15/15		900,000		908,723

				908,723

Insurance–0.15%
#Stone Street Trust 144A 5.902% 12/15/15		1,000,000		1,059,953

				1,059,953


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
IT Services–0.37%
Affiliated Computer Services 5.20% 6/1/15		2,500,000	$	2,574,337

				2,574,337

Media–2.58%
#@British Sky Broadcasting Group 144A 2.625% 9/16/19		1,000,000		1,000,552
#@BSKYB Finance 144A 5.625% 10/15/15		5,000,000		5,252,490
Cox Communications
5.50% 10/1/15		800,000		836,782
#144A 5.875% 12/1/16		1,100,000		1,205,020
7.25% 11/15/15		1,000,000		1,068,665
DISH DBS
6.625% 10/1/14		700,000		700,000
7.125% 2/1/16		7,650,000		8,128,125
Gannett 8.75% 11/15/14		50,000		50,413

				18,242,047

Metals & Mining–0.45%
Glencore Canada 5.375% 6/1/15		3,100,000		3,195,961

				3,195,961

Oil, Gas & Consumable Fuels–8.67%
ŸBP Capital Markets 0.657% 11/7/16		8,000,000		8,015,832
ŸCanadian Natural Resources 0.608% 3/30/16		3,150,000		3,158,426
#•ENI Finance USA 0.513% 10/26/15		7,000,000		6,994,606
Enterprise Products Operating 1.25% 8/13/15		5,178,000		5,203,585
#IPIC GMTN 144A 3.75% 3/1/17		2,000,000		2,095,000
KazMunayGas National 11.75% 1/23/15		2,500,000		2,579,250
#Kazmunaygas National 144A 11.75% 1/23/15		1,900,000		1,960,230
Kinder Morgan Energy Partners 6.00% 2/1/17		2,500,000		2,748,557
Korea National Oil #144A 2.875% 11/9/15		1,000,000		1,020,530
3.125% 4/3/17		2,250,000		2,327,272
#144A 3.125% 4/3/17		1,500,000		1,551,515
4.00% 10/27/16		3,650,000		3,842,793
Petrobras Global Finance
Ÿ1.852% 5/20/16		2,900,000		2,904,350
Ÿ2.595% 3/17/17		3,900,000		3,953,274
Petroleos Mexicanos 5.75% 3/1/18		1,000,000		1,110,000
#Rockies Express Pipeline 144A 3.90% 4/15/15		2,050,000		2,050,000


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Sinopec Group Overseas Development 2014
#•144A 1.014% 4/10/17		6,500,000	$	6,510,497
Ÿ1.154% 4/10/19		200,000		200,396
Southwestern Energy 7.50% 2/1/18		1,000,000		1,169,069
#Woodside Finance 144A 4.50% 11/10/14		1,835,000		1,842,641

				61,237,823

Pharmaceuticals–0.83%
AbbVie 1.75% 11/6/17		3,000,000		2,992,011
Express Scripts Holding 2.25% 6/15/19		60,000		59,225
#Forest Laboratories 144A 4.375% 2/1/19		1,400,000		1,475,037
Mylan
1.80% 6/24/16		300,000		303,632
2.60% 6/24/18		1,000,000		1,010,217

				5,840,122

Road & Rail–0.43%
•Kansas City Southern de Mexico de CV 0.935% 10/28/16		3,000,000		3,017,565

				3,017,565

Software–0.59%
Symantec
2.75% 9/15/15		1,000,000		1,018,314
2.75% 6/15/17		3,100,000		3,171,821

				4,190,135

Specialty Retail–0.14%
ŸLowe’s 0.654% 9/10/19		1,000,000		1,002,664

				1,002,664

Tobacco–0.42%
Altria Group 4.125% 9/11/15		2,900,000		2,993,902

				2,993,902

Wireless Telecommunication Services–1.53%
ŸAmerica Movil 1.235% 9/12/16		1,660,000		1,679,362
Sprint Communications
6.00% 12/1/16		1,000,000		1,053,750
8.375% 8/15/17		4,800,000		5,382,000
9.125% 3/1/17		2,400,000		2,712,000

				10,827,112


Total Corporate Bonds (Cost $469,282,044)				467,909,664


MUNICIPAL BONDS–1.36%
Educational Enhancement Funding
Series A 1.906% 6/1/17		3,300,000		3,285,183


	Principal Amount°		Value (U.S. $)

MUNICIPAL BONDS (continued)
Energy Northwest 1.793% 7/1/18		300,000	$	302,781
Louisville Regional Airport Authority Series C 0.769% 7/1/16		3,000,000		2,999,310
ŸState of Texas Series C-2 0.553% 6/1/19		3,000,000		3,014,580


Total Municipal Bonds (Cost $9,617,921)				9,601,854


NON-AGENCY ASSET-BACKED SECURITIES–6.68%
Accredited Mortgage Loan Trust
ŸSeries 2004-3 2A2 1.355% 10/25/34		34,253		34,208
ŸSeries 2005-3 A1 0.40% 9/25/35		707,414		703,984
#•ALM IV Series 2011-4A A 144A 1.473% 7/18/22		2,500,000		2,491,925
American Express Credit Account Master Trust Series 2014-2 A 1.26% 1/15/20		3,000,000		2,988,426
ŸAmeriquest Mortgage Securities Trust Series 2006-R2 A2B 0.335% 4/25/36		630,823		626,049
ŸAmortizing Residential Collateral Trust Series 2004-1 A5 1.155% 10/25/34		128,205		126,174
ŸAvoca Series V-X A1B 0.526% 8/3/22		EUR 418,457		519,990
ŸBA Credit Card Trust Series 2014-A3 A 0.444% 1/15/20		3,500,000		3,500,483
ŸBear Stearns Asset-Backed Securities I Trust Series 2004-BO1 M4 1.355% 10/25/34		1,046,000		1,039,432
ŸBear Stearns Asset-Backed Securities Trust Series 2003-2 A3 1.655% 3/25/43		121,550		119,295
#Dell Equipment Finance Trust Series 2014-1 A2 144A 0.64% 7/22/16		1,500,000		1,499,955
#•@Drug Royalty II Series 2014-1 A1 144A 3.082% 7/15/23		294,261		296,153
#•Dryden Senior Loan Fund Series 2011-22A A1R 144A 1.404% 1/15/22		2,000,000		1,999,600
#Exeter Automobile Receivables Trust Series 2014-2A A 144A 1.06% 8/15/18		42,926		42,936
#•Galaxy XI Series 2011-11A A 144A 1.522% 8/20/22		2,500,000		2,487,000
•Gresham Capital Series 2006-1 B 0.587% 3/23/26		EUR 1,246,953		1,569,829
•GSAA Home Equity Trust Series 2004-11 2A2 0.475% 12/25/34		174,880		172,396


	Principal Amount°		Value (U.S. $)

NON-AGENCY ASSET-BACKED SECURITIES (continued)
#•Hewett’s Island Series 2006-5A C 144A 0.934% 12/5/18		500,000	$	489,850
#•Highbridge Loan Management Series 2012-1AR A1R 144A 1.485% 9/20/22		5,000,000		4,990,150
•JP Morgan Mortgage Acquisition Series 2005-OPT2 A3 0.395% 12/25/35		231,778		231,522
#•Madison Park Funding Series 2011-7A A 144A 1.484% 6/15/22		988,292		983,894
#•Marathon II Series 2005-2A A1B 144A 0.503% 12/20/19		31,108		31,074
#•Navient Student Loan Trust Series 2014-CTA A 144A 0.854% 9/16/24		1,363,472		1,363,534
#•Ocean Trails Series 2006-1A A1 144A 0.484% 10/12/20		2,012,121		2,000,853
•Option One Mortgage Loan Trust Series 2005-5 A3 0.365% 12/25/35		1,552,941		1,540,842
Santander Drive Auto Receivables Trust Series 2014-1 A2A 0.66% 6/15/17		83,119		83,190
Securitized Asset-Backed Receivables Trust 2006-OP1 Series 2006-OP1		5,000,000		4,755,205
•Skellig Rock Series 2006-1X A1 0.619% 11/30/22		EUR 1,414,834		1,773,674
•Soundview Home Loan Trust Series 2005-OPT1 1A1 0.345% 6/25/35		934,032		929,766
•Specialty Underwriting & Residential Finance Trust Series 2005-AB1 M1 0.585% 3/25/36		521,456		510,046
•Strawinsky I Series 2007-1X A2 0.644% 8/10/24		EUR 551,454		692,383
#•Symphony Series 2012-8AR AR 144A 1.335% 1/9/23		6,500,000		6,500,000
#•Trimaran Series 2006-2A A1L 144A 0.49% 11/1/18		53,571		53,485


Total Non-Agency Asset-Backed Securities (Cost $47,405,838)				47,147,303


NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.64%
#•BCAP Trust Series 2009-RR4 9A1 144A 2.392% 10/26/35		198,215		200,277
•Granite Mortgages Series 2004-3 2A1 0.513% 9/20/44		331,062		329,969
•GSR Mortgage Loan Trust Series 2005-5F 8A1 0.655% 6/25/35		1,260,452		1,217,556


	Principal Amount°		Value (U.S. $)

NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
ŸMerrill Lynch Mortgage Investors Trust Series 2005-2 1A 1.572% 10/25/35		74,684	$	73,657
ŸNew York Mortgage Trust Series 2005-3 A1 0.395% 2/25/36		1,875,974		1,740,332
ŸStructured Adjustable Rate Mortgage Loan Trust Series 2004-6 3A2 2.386% 6/25/34		282,960		289,463
ŸStructured Asset Mortgage Investments II Trust Series 2005-AR5 A3 0.403% 7/19/35		719,247		668,576


Total Non-Agency Collateralized Mortgage Obligations (Cost $4,512,627)				4,519,830


DSOVEREIGN BONDS–1.63%
Brazil–0.86%
≠Brazil Letras do Tesouro Nacional 0.501% 1/1/16		BRL 17,100,000		6,055,122

				6,055,122

Japan–0.07%
Japan Bank for International Cooperation 2.50% 1/21/16		500,000		513,307

				513,307

Slovenia–0.70%
Slovenia Government International Bond
#144A 4.70% 11/1/16		EUR 3,400,000		4,637,759
4.75% 5/10/18		300,000		321,375

				4,959,134


Total Sovereign Bonds (Cost $12,129,896)				11,527,563


U.S. TREASURY OBLIGATIONS–39.18%
U.S. Treasury Notes
0.50% 7/31/16		59,500,000		59,511,603
0.50% 8/31/16		207,300,000		207,101,614
¥1.50% 5/31/19		5,200,000		5,146,378
2.00% 8/31/21		5,000,000		4,932,615


Total U.S. Treasury Obligations (Cost $276,457,075)				276,692,210


	Number of Shares		Value (U.S. $)

PREFERRED STOCK–0.03%
ŸCitigroup Capital XIII 7.875%		8,500	$	228,820

Total Preferred Stock (Cost $229,075)				228,820


MONEY MARKET FUND–6.57%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		46,407,084		46,407,084


Total Money Market Fund (Cost $46,407,084)				46,407,084


		Principal Amount°

SHORT-TERM INVESTMENTS–2.29%
Certificates of Deposit–0.89%
Banco de Brasil New York 1.21% 6/29/15		3,100,000		3,100,753
Kookmin Bank New York 0.74% 7/15/15		3,200,000		3,200,320

				6,301,073

Discounted Commercial Paper–1.40%
Tesco Treasury Services
≠0.96% 8/18/15		5,100,000		5,062,256
≠1.01% 8/17/15		1,800,000		1,786,725
≠Vodafone Group 0.60% 6/29/15		3,000,000		2,989,120

				9,838,101


Total Short-Term Investments (Cost $16,127,249)				16,139,174

The following foreign currency exchange contracts, futures contracts, reverse repurchase agreements and swap contracts were outstanding at September 30, 2014:

The use of foreign currency exchange contracts, futures contracts, reverse repurchase agreements and swap contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The foreign currency exchange contracts, notional

values and reverse repurchase agreements presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

¹Notional value shown is stated in U.S. Dollars unless noted that the swap is denominated in another currency.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

Valuation: US GAAP defines fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Fund fair values its financial instruments at fair value using independent pricing sources under the policies approved by the Board. The Pricing Committee is the committee formed by the advisor to develop pricing policies and procedures and to provide oversight of the pricing function for the Fund.

When market quotations are not readily available for one or more portfolio securities, the Fund’s NAV shall be calculated by using the “fair value” of the securities as determined by the Pricing Committee. Such “fair value” is the amount that a Fund might reasonably expect to receive for the security (or asset) upon its current sale. Each such determination should be based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of

security, (ii) the size of the holding, (iii) the initial cost of the security, (iv) the existence of any contractual restrictions of the security’s disposition, (v) the price and extent of public trading in similar securities of the issuer or of comparable companies, (vi) quotations or evaluated prices from broker-dealers and/or pricing services, (vii) information obtained from the issuer, analysts, and/or appropriate stock exchange (for exchange-traded securities), (viii) an analysis of the company’s financial statements, and (ix) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.

The Pricing Committee, or its delegate, employs various methods for calibrating these valuation approaches, including due diligence of the Fund’s pricing vendors and periodic back-testing of the prices that are fair valued under these procedures and reviews of any market related activity. The pricing of all securities fair valued by the Pricing Committee is subsequently reported to and approved by the Board on a quarterly basis.


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES–86.35%
Equity Funds–21.87%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA S&P 500 Index Fund		968,034	$	13,849,659
LVIP SSgA Small-Cap Index Fund		118,262		2,950,047

				16,799,706

Fixed Income Fund–50.81%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Bond Index Fund		3,410,503		39,026,389

				39,026,389

International Equity Fund–13.67%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA International Index Fund		1,131,530		10,500,600

				10,500,600


Total Affiliated Investment Companies (Cost $58,037,404)				66,326,695


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES–13.85%
Fixed Income Fund–10.02%
SPDR^® Barclays Capital TIPS ETF		137,958	$	7,693,918

				7,693,918

International Equity Fund–3.71%
iShares Core MSCI Emerging Markets ETF		57,029		2,853,731

				2,853,731


Money Market Fund–0.12%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		94,629		94,629

				94,629


Total Unaffiliated Investment Companies (Cost $10,722,604)				10,642,278

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES–90.02%
Equity Funds–21.82%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Large Cap 100 Fund		1,205,604	$	18,867,700
LVIP SSgA S&P 500 Index Fund		1,327,238		18,988,799
LVIP SSgA Small-Cap Index Fund		162,172		4,045,387
LVIP SSgA Small-Mid Cap 200 Fund		276,571		4,014,705

				45,916,591

Fixed Income Fund–50.85%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Bond Index Fund		9,352,872		107,024,911

				107,024,911

International Equity Funds–17.35%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Developed International 150 Fund		1,454,657		14,329,829
LVIP SSgA Emerging Markets 100 Fund		795,163		7,795,781
LVIP SSgA International Index Fund		1,551,556		14,398,439

				36,524,049


Total Affiliated Investment Companies (Cost $166,133,420)				189,465,551


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES–10.26%
Fixed Income Fund–10.02%
SPDR^® Barclays Capital TIPS ETF		377,999	$	21,081,004

				21,081,004

Money Market Fund–0.24%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		500,694		500,694

				500,694


Total Unaffiliated Investment Companies (Cost $21,544,783)				21,581,698

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES–85.58%
Equity Funds–38.11%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA S&P 500 Index Fund		4,109,171	$	58,789,905
LVIP SSgA Small-Cap Index Fund		806,875		20,127,494

				78,917,399

Fixed Income Fund–25.72%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Bond Index Fund		4,653,776		53,253,160

				53,253,160

International Equity Fund–21.75%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA International Index Fund		4,852,546		45,031,626

				45,031,626


Total Affiliated Investment Companies (Cost $144,564,601)				177,202,185


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES–14.47%
Fixed Income Fund–5.07%
SPDR^® Barclays Capital TIPS ETF		188,010	$	10,485,318

				10,485,318

International Equity Fund–9.40%
iShares Core MSCI Emerging Markets ETF		389,038		19,467,461

				19,467,461


Total Unaffiliated Investment Companies (Cost $30,269,941)				29,952,779

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES–94.96%
Equity Funds–38.07%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Large Cap 100 Fund		4,221,411	$	66,065,080
LVIP SSgA S&P 500 Index Fund		4,647,343		66,489,531
LVIP SSgA Small-Cap Index Fund		912,453		22,761,143
LVIP SSgA Small-Mid Cap 200 Fund		1,556,084		22,588,115

				177,903,869

Fixed Income Fund–25.77%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Bond Index Fund		10,526,628		120,456,208

				120,456,208

International Equity Funds–31.12%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Developed International 150 Fund		5,144,975		50,683,151
LVIP SSgA Emerging Markets 100 Fund		4,473,321		43,856,443
LVIP SSgA International Index Fund		5,487,797		50,926,758

				145,466,352


Total Affiliated Investment Companies (Cost $370,458,823)				443,826,429

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES–84.33%
Equity Funds–33.96%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA S&P 500 Index Fund		4,201,085	$	60,104,918
LVIP SSgA Small-Cap Index Fund		710,689		17,728,134

				77,833,052

Fixed Income Fund–30.70%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Bond Index Fund		6,148,747		70,360,116

				70,360,116

International Equity Fund–19.67%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA International Index Fund		4,856,927		45,072,278

				45,072,278


Total Affiliated Investment Companies (Cost $161,050,901)				193,265,446


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES–15.72%
Fixed Income Fund–10.08%
SPDR^® Barclays Capital TIPS ETF		414,172	$	23,098,372

				23,098,372

International Equity Fund–5.61%
iShares Core MSCI Emerging Markets ETF		257,014		12,860,981

				12,860,981

Money Market Fund–0.03%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		82,937		82,937

				82,937


Total Unaffiliated Investment Companies (Cost $36,592,390)				36,042,290

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES–89.95%
Equity Funds–33.92%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Large Cap 100 Fund		7,687,035	$	120,302,105
LVIP SSgA S&P 500 Index Fund		8,462,676		121,075,509
LVIP SSgA Small-Cap Index Fund		1,431,437		35,707,199
LVIP SSgA Small-Mid Cap 200 Fund		2,441,112		35,435,185

				312,519,998

Fixed Income Fund–30.77%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Bond Index Fund		24,772,353		283,470,030

				283,470,030

International Equity Funds–25.26%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Developed International 150 Fund		9,171,919		90,352,571
LVIP SSgA Emerging Markets 100 Fund		5,262,730		51,595,805
LVIP SSgA International Index Fund		9,783,035		90,786,564

				232,734,940


Total Affiliated Investment Companies (Cost $708,963,063)				828,724,968

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES–28.82%
Fannie Mae ARM
Ÿ2.294% 7/1/38		200,383	$	214,333
Ÿ2.341% 9/1/37		252,535		271,147
Ÿ2.449% 3/1/37		385,260		415,054
Ÿ2.855% 11/1/35		323,228		328,834
Ÿ2.905% 11/1/41		243,291		256,623
Ÿ3.285% 1/1/41		2,105,329		2,213,638
Ÿ3.309% 6/1/41		2,929,379		3,087,226
Fannie Mae S.F. 10 yr
4.00% 8/1/19		91,581		96,979
4.00% 6/1/20		423,177		448,237
4.00% 5/1/23		247,420		262,051
5.50% 12/1/14		2,450		2,591
5.50% 11/1/15		1,575		1,666
6.00% 3/1/16		85,655		88,233
6.00% 10/1/16		81,130		84,356
6.00% 12/1/17		36,653		37,998
6.00% 9/1/18		14,937		15,979
Fannie Mae S.F. 15 yr
2.50% 10/1/27		1,729,275		1,749,465
2.50% 3/1/28		3,973,628		4,020,015
2.50% 4/1/28		4,332,333		4,382,925
2.50% 7/1/28		888,574		898,949
2.50% 9/1/28		1,800,969		1,821,991
2.50% 10/1/28		5,563,079		5,606,235
3.00% 11/1/26		3,700,080		3,823,998
3.00% 6/1/27		930,545		961,732
3.00% 8/1/27		1,722,801		1,780,554
3.00% 9/1/27		7,054,086		7,290,568
3.00% 10/1/27		1,021,383		1,055,626
3.00% 12/1/27		318,737		329,423
3.50% 11/1/25		1,016,966		1,071,348
3.50% 12/1/25		2,396,203		2,528,357
3.50% 12/1/26		1,463,615		1,541,918
4.00% 7/1/18		153,224		162,316
4.00% 8/1/18		95,196		100,870
4.00% 5/1/20		3,166,076		3,355,343
4.00% 4/1/24		198,076		211,358
4.00% 5/1/24		382,153		407,027
4.00% 6/1/24		475,224		506,626
4.00% 7/1/24		193,769		206,802
4.00% 10/1/24		14,557		15,466
4.00% 12/1/24		567,166		605,138
4.00% 1/1/25		741,759		795,151
4.00% 3/1/25		836,892		897,263
4.00% 5/1/25		339,990		362,856
4.00% 7/1/25		7,283		7,772
4.00% 8/1/25		26,463		28,124
4.00% 9/1/25		272,144		290,429
4.00% 10/1/25		361,757		386,142
4.00% 1/1/26		11,199		11,957
4.00% 3/1/26		873,026		931,719


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 15 yr (continued)
4.00% 5/1/26		9,600	$	10,201
4.00% 7/1/26		828,647		883,831
4.50% 2/1/23		152,923		161,337
4.50% 4/1/23		15,945		17,127
4.50% 5/1/23		18,966		20,389
4.50% 6/1/23		504,429		542,124
4.50% 11/1/23		24,244		26,002
4.50% 1/1/24		5,029		5,306
4.50% 2/1/24		5,258		5,640
4.50% 3/1/24		7,671		8,183
4.50% 4/1/24		218,690		235,059
4.50% 5/1/24		409,484		439,900
4.50% 7/1/24		344,563		367,737
4.50% 8/1/24		479,725		512,140
4.50% 11/1/24		217,580		232,123
4.50% 4/1/25		369,873		394,892
4.50% 5/1/25		35,182		37,556
4.50% 6/1/25		8,667		9,245
5.00% 6/1/19		2,091		2,208
5.00% 4/1/23		40,395		43,694
5.00% 6/1/23		733,227		791,098
5.00% 9/1/23		349,348		378,162
5.00% 11/1/23		212,415		229,786
5.00% 12/1/23		209,562		227,656
5.00% 3/1/25		85,911		93,201
5.00% 6/1/25		3,996		4,343
5.50% 12/1/18		186,062		196,941
5.50% 3/1/20		328,338		347,657
5.50% 4/1/22		81,574		88,957
5.50% 7/1/22		98,364		107,601
6.00% 12/1/18		15		16
6.00% 6/1/20		11,348		12,025
6.00% 8/1/22		21,987		23,651
6.00% 9/1/22		72,750		79,365
Fannie Mae S.F. 15 yr TBA
2.50% 10/1/29		1,000,000		1,005,625
3.50% 10/1/29		5,500,000		5,781,445
Fannie Mae S.F. 20 yr
3.50% 7/1/34		9,823,964		10,219,704
6.50% 12/1/17		536		607
Fannie Mae S.F. 30 yr
3.00% 9/1/42		2,700,590		2,669,646
3.00% 10/1/42		3,939,581		3,899,317
3.00% 11/1/42		2,680,706		2,649,090
3.00% 12/1/42		2,471,230		2,448,109
3.00% 1/1/43		5,356,938		5,292,914
3.00% 3/1/43		11,396,971		11,256,635
3.00% 4/1/43		2,857,487		2,822,153
3.00% 5/1/43		1,864,974		1,841,719
3.00% 6/1/43		8,139,255		8,038,713
3.00% 8/1/43		6,225,349		6,145,793
3.50% 10/1/40		1,324,786		1,355,954


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
3.50% 12/1/40		681,171	$	697,253
3.50% 2/1/41		1,186,665		1,214,658
3.50% 8/1/42		940,527		963,111
3.50% 9/1/42		10,045,819		10,287,417
3.50% 10/1/42		5,835,587		5,975,805
3.50% 11/1/42		2,115,387		2,165,110
3.50% 1/1/43		4,197,865		4,297,969
3.50% 7/1/43		8,266,230		8,460,531
4.00% 1/1/39		64,309		67,864
4.00% 2/1/39		121,039		127,730
4.00% 3/1/39		5,027		5,304
4.00% 4/1/39		444,457		469,026
4.00% 6/1/39		200,173		211,239
4.00% 8/1/39		731,812		774,036
4.00% 9/1/39		915,088		970,174
4.00% 11/1/39		63,239		66,735
4.00% 12/1/39		1,557,111		1,643,185
4.00% 1/1/40		652,358		688,419
4.00% 5/1/40		322,203		340,013
4.00% 8/1/40		130,304		137,507
4.00% 9/1/40		263,231		277,782
4.00% 10/1/40		1,170,005		1,234,680
4.00% 11/1/40		1,661,869		1,753,733
4.00% 12/1/40		2,484,722		2,627,663
4.00% 1/1/41		6,675,381		7,044,382
4.00% 2/1/41		1,533,091		1,617,838
4.00% 3/1/41		39,297		41,469
4.00% 4/1/41		534,676		564,232
4.00% 5/1/41		2,828,364		2,984,710
4.00% 6/1/41		40,204		42,426
4.00% 9/1/41		610,511		644,258
4.00% 10/1/41		337,057		355,689
4.00% 11/1/41		654,311		690,480
4.00% 12/1/41		28,363		29,931
4.00% 1/1/42		23,269		24,555
4.00% 3/1/42		436,120		460,228
4.00% 10/1/43		6,939,438		7,341,655
4.00% 12/1/43		2,450,133		2,590,085
4.00% 7/1/44		5,445,495		5,746,510
4.00% 9/1/44		5,485,117		5,788,323
4.50% 8/1/33		39,883		43,168
4.50% 1/1/34		24,425		26,368
4.50% 9/1/35		147,690		159,597
4.50% 2/1/38		58,524		63,178
4.50% 4/1/38		71,313		76,993
4.50% 7/1/38		72,467		78,230
4.50% 11/1/38		288,333		311,307
4.50% 2/1/39		663,828		716,619
4.50% 3/1/39		526,266		568,118
4.50% 4/1/39		1,680,114		1,819,782
4.50% 5/1/39		658,474		717,628
4.50% 6/1/39		214,903		232,366


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
4.50% 7/1/39		925,298	$	999,978
4.50% 9/1/39		434,326		472,914
4.50% 1/1/40		1,366,408		1,499,567
4.50% 2/1/40		2,547,651		2,775,176
4.50% 5/1/40		1,553,486		1,687,588
4.50% 6/1/40		711,219		768,919
4.50% 8/1/40		308,718		333,529
4.50% 9/1/40		855,360		924,987
4.50% 10/1/40		4,834,343		5,232,078
4.50% 11/1/40		818,077		884,322
4.50% 2/1/41		3,369,739		3,644,473
4.50% 4/1/41		39,559		42,790
4.50% 5/1/41		4,133,116		4,471,353
4.50% 6/1/41		428,963		463,076
5.00% 12/1/32		83,371		91,954
5.00% 9/1/33		267,261		295,627
5.00% 4/1/34		977,439		1,081,033
5.00% 7/1/34		628,667		695,436
5.00% 11/1/34		313,126		346,312
5.00% 4/1/35		196,587		217,413
5.00% 6/1/35		327,320		361,930
5.00% 7/1/35		3,756,631		4,154,064
5.00% 9/1/35		63,883		70,460
5.00% 10/1/35		254,638		281,574
5.00% 12/1/35		1,188,220		1,313,952
5.00% 2/1/36		2,706,568		2,992,562
5.00% 3/1/36		152,978		169,163
5.00% 11/1/36		56,828		62,841
5.00% 8/1/37		54,789		60,430
5.00% 4/1/38		359,238		396,220
5.00% 7/1/38		45,287		49,949
5.00% 11/1/38		35,873		39,566
5.00% 8/1/39		1,805,676		1,993,785
5.00% 12/1/39		375,146		414,533
5.00% 1/1/40		844,183		943,943
5.00% 7/1/40		3,026,820		3,352,991
5.00% 9/1/40		892,628		985,814
5.50% 11/1/33		88,453		99,239
5.50% 1/1/34		127,774		143,387
5.50% 5/1/34		170,206		191,058
5.50% 7/1/34		250,498		279,459
5.50% 10/1/34		289,176		324,229
5.50% 9/1/35		171,770		192,119
5.50% 10/1/35		172,680		192,708
5.50% 12/1/35		634,747		709,621
5.50% 1/1/36		841,515		941,229
5.50% 4/1/36		2,220,629		2,479,355
5.50% 8/1/36		499,351		557,551
5.50% 1/1/37		689,324		767,366
5.50% 2/1/37		37,498		41,734
5.50% 3/1/37		196,503		218,802
5.50% 5/1/37		272,890		305,744


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
5.50% 6/1/37		201,775	$	225,385
5.50% 8/1/37		83,418		92,819
5.50% 11/1/37		2,250		2,503
5.50% 12/1/37		759		844
5.50% 1/1/38		4,746,331		5,281,799
5.50% 2/1/38		137,189		152,650
5.50% 5/1/38		354,753		394,731
5.50% 6/1/38		23,911		26,611
5.50% 7/1/38		198,779		221,179
5.50% 10/1/38		83,940		93,400
5.50% 1/1/39		363,009		404,163
5.50% 5/1/39		805,271		896,019
5.50% 6/1/39		799,670		889,787
5.50% 10/1/39		351,310		390,900
5.50% 7/1/41		668,156		743,453
6.00% 12/1/35		235,031		270,765
6.00% 2/1/36		102,497		116,447
6.00% 6/1/36		62,762		71,068
6.00% 7/1/36		207,272		234,891
6.00% 8/1/36		126,015		142,754
6.00% 9/1/36		187,037		211,808
6.00% 10/1/36		199,746		226,296
6.00% 11/1/36		12,436		14,108
6.00% 1/1/37		138,421		156,811
6.00% 2/1/37		779,924		888,823
6.00% 3/1/37		70,279		79,516
6.00% 4/1/37		7,356		8,305
6.00% 5/1/37		226,086		256,315
6.00% 6/1/37		130,031		147,001
6.00% 8/1/37		278,122		314,062
6.00% 9/1/37		426,307		482,029
6.00% 10/1/37		654,572		739,030
6.00% 11/1/37		142,230		160,616
6.00% 1/1/38		78,367		88,772
6.00% 2/1/38		90,374		102,034
6.00% 4/1/38		7,810		8,818
6.00% 5/1/38		279,274		315,308
6.00% 6/1/38		109,817		123,987
6.00% 8/1/38		122,600		138,419
6.00% 9/1/38		64,103		72,492
6.00% 10/1/38		68,988		77,889
6.00% 11/1/38		64,521		72,846
6.00% 12/1/38		1,037,736		1,181,544
6.00% 4/1/40		833,769		942,242
6.00% 6/1/40		1,522,043		1,723,305
6.50% 3/1/32		1,286		1,459
6.50% 7/1/36		145,194		164,457
6.50% 9/1/36		139,377		157,767
6.50% 11/1/36		175,950		208,354
6.50% 9/1/37		25,203		29,821
6.50% 10/1/37		283,612		321,031
6.50% 2/1/38		242,279		279,299


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Fannie Mae S.F. 30 yr (continued)
6.50% 3/1/38		532,921	$	633,231
6.50% 5/1/38		94,557		107,033
6.50% 7/1/38		233,173		263,938
6.50% 10/1/38		249,943		282,920
7.00% 8/1/39		624,311		730,863
Fannie Mae S.F. 30 yr TBA
3.50% 10/1/44		13,400,000		13,696,266
4.00% 10/1/44		9,400,000		9,905,837
4.50% 10/1/44		6,500,000		7,012,890
Freddie Mac ARM
Ÿ2.298% 9/1/37		426,625		458,428
Ÿ2.311% 11/1/37		213,405		228,144
Ÿ3.513% 9/1/40		999,137		1,068,441
Ÿ3.664% 8/1/40		616,544		651,595
Ÿ5.983% 6/1/36		75,997		76,471
Freddie Mac S.F. 15 yr
2.50% 4/1/28		194,893		197,237
2.50% 7/1/28		571,662		578,538
2.50% 8/1/28		4,540,406		4,595,024
2.50% 9/1/28		3,294,501		3,333,967
2.50% 10/1/28		4,605,036		4,660,433
3.00% 11/1/26		4,675,182		4,814,156
3.00% 2/1/27		420,353		432,887
3.00% 3/1/27		2,370,523		2,442,450
3.00% 4/1/27		1,821,577		1,875,725
3.00% 11/1/27		802,328		826,178
3.00% 2/1/29		1,886,220		1,943,686
3.00% 7/1/29		3,946,330		4,063,639
3.50% 12/1/25		2,446,188		2,581,359
3.50% 3/1/26		1,828,659		1,920,515
4.00% 2/1/24		123,969		131,578
4.00% 8/1/24		192,870		205,084
4.00% 2/1/25		262,832		280,662
4.00% 7/1/25		794,363		848,085
4.00% 4/1/26		1,659,639		1,771,122
4.50% 1/1/15		1,329		1,401
4.50% 2/1/15		2,315		2,441
4.50% 8/1/15		2,341		2,468
4.50% 3/1/18		147,550		155,592
4.50% 4/1/18		126,995		133,953
4.50% 10/1/18		48,289		50,918
4.50% 11/1/18		192,417		202,998
4.50% 12/1/18		91,928		96,964
4.50% 1/1/19		89,333		94,229
4.50% 2/1/19		108,616		114,575
4.50% 7/1/19		159,256		168,014
4.50% 12/1/19		58,237		61,428
4.50% 4/1/21		46,276		48,835
4.50% 6/1/24		9,192		9,947
4.50% 7/1/24		328,144		354,981
4.50% 8/1/24		151,497		162,501


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac S.F. 15 yr (continued)
4.50% 11/1/24		287,600	$	311,167
4.50% 5/1/25		117,647		127,305
5.00% 10/1/17		11,032		11,642
5.00% 4/1/18		235,565		248,585
5.00% 4/1/23		199,993		217,648
5.00% 1/1/25		27,343		28,894
5.00% 3/1/25		109,634		119,309
5.50% 12/1/15		19,276		20,432
5.50% 11/1/16		150,643		159,681
5.50% 11/1/17		17,085		18,110
5.50% 4/1/18		71,916		76,230
6.00% 11/1/23		137,072		150,892
Freddie Mac S.F. 15 yr TBA 2.50% 10/1/29		3,000,000		3,017,931
Freddie Mac S.F. 30 yr
3.00% 10/1/42		2,656,765		2,626,750
3.00% 1/1/43		5,790,746		5,730,675
3.00% 3/1/43		6,873,256		6,795,607
3.00% 4/1/43		4,589,324		4,537,476
3.00% 7/1/43		1,844,643		1,823,804
3.00% 8/1/43		741,279		732,905
3.00% 10/1/43		2,219,316		2,194,244
3.50% 2/1/42		3,720,394		3,801,941
3.50% 5/1/42		3,515,193		3,592,242
3.50% 10/1/42		3,487,554		3,563,997
3.50% 2/1/43		1,978,305		2,022,479
3.50% 5/1/43		2,711,674		2,771,111
3.50% 8/1/43		5,190,195		5,303,958
3.50% 2/1/44		1,942,165		1,984,735
3.50% 3/1/44		146,321		149,528
3.50% 6/1/44		2,470,699		2,524,854
3.50% 8/1/44		2,494,581		2,549,259
4.00% 5/1/39		288,123		303,752
4.00% 5/1/39		263,318		277,601
4.00% 2/1/40		171,273		180,564
4.00% 5/1/40		305,823		322,411
4.00% 8/1/40		77,243		81,433
4.00% 9/1/40		680,718		717,643
4.00% 10/1/40		2,473,066		2,607,215
4.00% 11/1/40		5,258,701		5,545,162
4.00% 12/1/40		2,507,892		2,643,929
4.00% 2/1/41		2,114,449		2,231,672
4.00% 12/1/41		3,378,544		3,561,809
4.00% 1/1/42		861,051		907,758
4.00% 3/1/42		195,089		205,671
4.00% 6/1/42		19,423		20,477
4.00% 5/1/44		3,912,896		4,125,147
4.50% 2/1/39		112,544		121,436
4.50% 4/1/39		55,816		60,226
4.50% 5/1/39		196,335		213,642
4.50% 6/1/39		1,484,839		1,612,377
4.50% 7/1/39		356,303		384,457


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac S.F. 30 yr (continued)
4.50% 9/1/39		1,117,528	$	1,220,581
4.50% 10/1/39		1,115,793		1,206,978
4.50% 1/1/40		2,636,322		2,870,467
4.50% 2/1/40		1,619,422		1,763,174
4.50% 7/1/40		291,553		314,831
4.50% 9/1/40		1,515,657		1,649,979
4.50% 2/1/41		5,698,404		6,205,110
4.50% 3/1/41		680,823		738,398
4.50% 9/1/41		1,893,760		2,043,395
5.00% 10/1/34		412,315		457,694
5.00% 2/1/35		80,622		89,169
5.00% 8/1/35		167,695		185,494
5.00% 10/1/35		79,556		87,970
5.00% 11/1/35		33,738		37,269
5.00% 12/1/35		276,867		306,113
5.00% 2/1/37		201,489		221,790
5.00% 4/1/37		221,310		243,545
5.00% 5/1/37		212,558		233,914
5.00% 12/1/37		694,813		764,629
5.00% 1/1/38		9,352		10,292
5.00% 4/1/38		8,039		8,847
5.00% 6/1/38		393,272		432,784
5.00% 7/1/38		47,046		51,773
5.00% 9/1/38		19,505		21,465
5.00% 10/1/38		387,308		426,221
5.00% 12/1/38		1,130,150		1,243,695
5.00% 1/1/39		96,507		106,203
5.00% 2/1/39		1,764,338		1,941,599
5.00% 3/1/39		624,132		692,684
5.00% 8/1/39		177,817		197,582
5.00% 9/1/39		1,062,557		1,173,497
5.00% 1/1/40		1,030,229		1,139,370
5.00% 5/1/40		415,345		459,491
5.00% 6/1/40		2,374,093		2,634,349
5.00% 9/1/40		241,383		265,634
5.00% 3/1/41		685,362		754,846
5.50% 8/1/33		87,691		98,162
5.50% 6/1/34		204,552		229,305
5.50% 6/1/35		136,821		153,716
5.50% 11/1/35		268,518		299,644
5.50% 1/1/37		129,289		144,122
5.50% 5/1/37		156,651		174,272
5.50% 7/1/37		76,166		85,489
5.50% 1/1/38		714,805		795,650
5.50% 2/1/38		162,231		180,718
5.50% 5/1/38		1,024,176		1,143,897
5.50% 6/1/38		42,190		46,930
5.50% 8/1/38		151,998		170,476
5.50% 12/1/38		160,205		179,112
5.50% 8/1/39		241,894		270,941
5.50% 12/1/39		760,513		846,700
5.50% 3/1/40		684,197		761,313


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac S.F. 30 yr (continued)
5.50% 4/1/40		1,596,726	$	1,778,913
5.50% 5/1/40		584,689		651,228
5.50% 6/1/41		135,291		150,563
6.00% 11/1/28		25,874		29,525
6.00% 7/1/33		22,857		26,285
6.00% 8/1/36		42,421		47,809
6.00% 11/1/36		116,732		131,642
6.00% 4/1/37		1,759		1,990
6.00% 5/1/37		244,953		275,832
6.00% 8/1/37		478,246		539,512
6.00% 9/1/37		298,166		337,318
6.00% 10/1/37		78,705		88,638
6.00% 11/1/37		439,758		495,958
6.00% 12/1/37		28,737		32,607
6.00% 1/1/38		354,094		398,816
6.00% 4/1/38		22,515		25,360
6.00% 6/1/38		62,412		70,336
6.00% 7/1/38		87,448		98,572
6.00% 8/1/38		117,803		132,769
6.00% 9/1/38		63,525		71,605
6.00% 10/1/38		188,750		212,552
6.00% 11/1/38		21,764		24,529
6.00% 3/1/39		74,814		84,247
6.00% 5/1/40		2,099,699		2,366,866
6.50% 11/1/36		351,654		397,617
6.50% 8/1/37		188,127		221,014
6.50% 10/1/37		41,023		46,390
6.50% 6/1/38		79,462		89,849
6.50% 4/1/39		203,751		230,382
Freddie Mac S.F. 30 yr TBA
4.00% 10/1/44		8,000,000		8,422,496
GNMA I S.F. 30 yr
3.00% 9/15/42		2,509,309		2,531,483
3.00% 11/15/42		2,175,266		2,194,488
3.00% 12/15/42		663,459		669,322
3.50% 10/15/40		427,186		442,271
3.50% 1/15/41		156,956		162,579
3.50% 7/15/41		98,515		102,436
3.50% 10/15/41		1,218,735		1,261,837
3.50% 3/15/42		99,503		103,026
3.50% 6/15/42		4,746,024		4,913,616
3.50% 7/15/42		1,902,663		1,969,850
3.50% 10/15/42		611,377		632,966
3.50% 4/15/43		1,735,483		1,796,767
4.00% 6/15/39		168,193		178,749
4.00% 7/15/39		244,383		259,720
4.00% 8/15/39		209,194		222,323
4.00% 8/15/40		1,167,840		1,241,504
4.00% 10/15/40		1,005,142		1,074,852
4.00% 12/15/40		1,376,925		1,475,396
4.00% 1/15/41		1,378,735		1,477,223


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
GNMA I S.F. 30 yr (continued)
4.00% 9/15/41		2,228,745	$	2,368,617
4.50% 2/15/39		363,285		394,503
4.50% 3/15/39		2,033,234		2,207,956
4.50% 4/15/39		181,545		197,147
4.50% 5/15/39		171,671		188,379
4.50% 6/15/39		699,679		759,800
4.50% 7/15/39		791,662		859,695
4.50% 8/15/39		130,782		142,021
4.50% 9/15/39		685,169		744,053
4.50% 10/15/39		1,649,488		1,809,303
4.50% 11/15/39		1,034,934		1,128,674
4.50% 12/15/39		453,869		493,994
4.50% 1/15/40		2,153,397		2,353,368
4.50% 4/15/40		602,174		655,440
4.50% 5/15/40		619,109		679,403
4.50% 6/15/40		1,490,141		1,630,743
4.50% 8/15/40		622,405		677,319
4.50% 9/15/40		415,296		454,483
4.50% 1/15/41		493,992		539,762
4.50% 2/15/41		3,518,604		3,844,260
4.50% 3/15/41		483,467		526,065
4.50% 6/15/41		431,458		469,433
4.50% 7/15/41		56,781		61,790
5.00% 3/15/35		129,836		143,259
5.00% 3/15/38		41,290		45,447
5.00% 4/15/38		39,293		43,250
5.00% 5/15/38		6,587		7,250
5.00% 8/15/38		37,555		41,337
5.00% 11/15/38		58,981		64,922
5.00% 1/15/39		411,420		454,617
5.00% 4/15/39		441,145		485,321
5.00% 5/15/39		1,805,863		1,997,644
5.00% 6/15/39		1,466,372		1,626,391
5.00% 9/15/39		3,247,732		3,606,064
5.00% 10/15/39		257,315		283,371
5.00% 11/15/39		705,561		783,297
5.00% 1/15/40		2,136,441		2,368,967
5.00% 2/15/40		883,750		981,331
5.00% 4/15/40		700,400		774,035
5.00% 7/15/40		749,059		832,072
5.50% 10/15/33		391,747		440,227
5.50% 4/15/37		94,385		105,361
5.50% 7/15/37		48,545		53,965
5.50% 1/15/38		584,014		649,091
5.50% 2/15/38		435,091		485,693
5.50% 7/15/38		176,661		196,774
5.50% 8/15/38		78,065		86,764
5.50% 9/15/38		888,494		987,493
5.50% 12/15/38		655,673		728,735
5.50% 1/15/39		313,115		348,189
5.50% 5/15/39		472,655		525,544
5.50% 7/15/39		11,975		13,307


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
GNMA I S.F. 30 yr (continued)
5.50% 10/15/39		510,958	$	568,136
5.50% 12/15/39		158,299		176,050
5.50% 4/15/40		955,510		1,073,151
5.50% 2/15/41		132,378		147,223
6.00% 5/15/37		242,087		279,926
6.00% 1/15/38		182,006		205,262
6.00% 3/15/38		10,317		11,636
6.00% 5/15/38		467,307		534,151
6.00% 7/15/38		240,518		271,238
6.00% 8/15/38		280,775		316,651
6.00% 10/15/38		264,472		298,271
6.00% 11/15/38		171,182		193,057
6.00% 12/15/38		289,010		325,944
6.00% 1/15/39		51,316		57,884
6.00% 5/15/39		7,843		8,849
6.00% 6/15/39		6,365		7,180
6.00% 8/15/39		11,944		13,473
6.00% 10/15/39		17,568		19,817
6.00% 6/15/40		7,684		8,669
6.00% 12/15/40		1,315,053		1,483,682
6.50% 3/15/38		15,563		17,643
6.50% 5/15/38		36,323		41,179
6.50% 7/15/38		103,211		117,651
6.50% 8/15/38		3,953		4,501
6.50% 9/15/38		15,340		17,428
6.50% 10/15/38		39,012		44,228
6.50% 2/15/39		323,009		366,189
6.50% 8/15/39		26,642		30,384
GNMA I S.F. 30 yr TBA 4.00% 10/1/44		2,000,000		2,121,406
GNMA II S.F. 30 yr
3.00% 9/20/42		3,417,825		3,448,205
3.00% 11/20/42		1,732,935		1,748,338
3.00% 12/20/42		2,718,431		2,742,382
3.00% 1/20/43		2,653,398		2,676,588
3.00% 2/20/43		3,227,395		3,263,108
3.00% 3/20/43		5,436,784		5,491,375
3.00% 6/20/43		2,315,593		2,335,454
3.00% 9/20/43		3,794,169		3,826,711
3.50% 4/20/42		1,432,251		1,483,219
3.50% 6/20/42		1,906,788		1,974,643
3.50% 10/20/42		1,601,812		1,658,816
3.50% 12/20/42		3,249,379		3,365,016
3.50% 2/20/43		5,694,796		5,897,298
3.50% 3/20/43		3,220,275		3,347,440
3.50% 5/20/43		4,013,669		4,155,810
3.50% 1/20/44		6,252,139		6,473,553
4.00% 5/20/39		1,888,408		2,007,847
4.00% 8/20/40		1,121,378		1,193,171
4.00% 10/20/41		194,504		206,578
4.00% 11/20/41		3,250,184		3,451,834
4.00% 12/20/41		1,342,969		1,426,208


	Principal Amount°		Value (U.S. $)

AGENCY MORTGAGE-BACKED SECURITIES (continued)
GNMA II S.F. 30 yr (continued)
4.00% 5/20/42		3,112,451	$	3,305,365
4.00% 8/20/42		1,415,280		1,503,000
4.00% 8/20/43		3,076,910		3,267,620
4.00% 3/20/44		4,711,379		5,003,396
4.50% 7/20/41		4,906,712		5,342,519
4.50% 12/20/43		3,578,016		3,888,176
5.00% 4/20/43		2,614,125		2,905,194
GNMA II S.F. 30 yr TBA
3.00% 10/1/44		1,500,000		1,509,492
3.50% 10/1/44		5,000,000		5,166,406
4.00% 10/1/44		6,000,000		6,358,593
4.50% 10/1/44		3,000,000		3,253,594


Total Agency Mortgage-Backed Securities (Cost $667,122,943)				676,906,730


AGENCY OBLIGATIONS–3.54%
Fannie Mae
0.375% 12/21/15		1,100,000		1,101,929
0.50% 10/22/15		250,000		250,819
0.50% 3/30/16		2,000,000		2,001,828
0.50% 5/20/16		1,500,000		1,500,511
0.52% 5/20/16		1,000,000		999,382
0.625% 8/26/16		2,000,000		2,001,658
0.875% 10/26/17		750,000		743,108
0.875% 12/20/17		500,000		493,901
0.875% 2/8/18		1,000,000		984,369
0.875% 5/21/18		1,750,000		1,714,496
0.90% 11/7/17		750,000		741,160
1.00% 8/21/17		100,000		99,436
1.00% 10/11/17		2,000,000		1,974,888
1.00% 5/21/18		100,000		98,199
1.25% 1/30/17		3,500,000		3,533,177
1.625% 10/26/15		1,000,000		1,015,158
1.70% 10/4/19		125,000		122,659
1.75% 1/30/19		1,100,000		1,102,076
1.75% 9/12/19		1,000,000		992,342
1.875% 10/15/15		100,000		101,626
1.875% 9/18/18		1,000,000		1,010,608
2.375% 4/11/16		2,000,000		2,059,122
2.625% 9/6/24		2,085,000		2,055,414
3.40% 9/27/32		250,000		237,195
4.375% 10/15/15		1,000,000		1,043,489
4.875% 12/15/16		500,000		545,551
5.00% 3/15/16		1,000,000		1,066,642
5.00% 2/13/17		1,000,000		1,097,224
5.00% 5/11/17		500,000		552,146
5.375% 6/12/17		600,000		669,796
5.625% 7/15/37		100,000		133,681
6.00% 4/18/36		100,000		107,817
6.25% 5/15/29		500,000		677,193
6.625% 11/15/30		300,000		426,989
7.125% 1/15/30		500,000		731,964


	Principal Amount°		Value (U.S. $)

AGENCY OBLIGATIONS (continued)
Fannie Mae (continued)
7.25% 5/15/30		500,000	$	744,873
8.95% 2/12/18		1,000,000		1,246,473
Federal Farm Credit Banks
1.50% 11/16/15		250,000		253,505
2.50% 6/20/22		125,000		121,738
4.875% 12/16/15		1,000,000		1,055,107
4.875% 1/17/17		300,000		327,817
5.125% 8/25/16		100,000		108,494
Federal Home Loan Banks
0.375% 6/24/16		2,500,000		2,495,955
0.50% 11/20/15		2,500,000		2,507,360
0.875% 5/24/17		500,000		499,004
1.125% 9/28/16		500,000		503,015
1.20% 11/21/18		750,000		732,791
2.125% 12/21/15		250,000		255,552
2.25% 9/8/17		500,000		516,171
4.125% 3/13/20		400,000		438,734
4.625% 9/11/20		1,000,000		1,130,211
4.875% 5/17/17		200,000		220,293
5.00% 11/17/17		1,700,000		1,895,585
5.375% 5/18/16		2,000,000		2,158,710
5.375% 5/15/19		1,000,000		1,163,555
5.50% 7/15/36		300,000		389,664
Federal Home Loan Mortgage
0.50% 5/27/16		1,000,000		996,557
0.75% 1/12/18		1,000,000		980,806
0.875% 10/14/16		1,100,000		1,104,627
0.875% 3/7/18		1,250,000		1,229,127
1.00% 6/29/17		1,000,000		998,890
1.25% 8/21/17		500,000		499,395
1.25% 8/1/19		500,000		485,591
1.25% 10/2/19		1,000,000		971,831
1.375% 5/1/20		2,600,000		2,507,755
1.75% 5/30/19		500,000		498,818
2.00% 8/25/16		500,000		513,379
2.00% 7/30/19		100,000		100,653
2.375% 1/13/22		6,500,000		6,466,713
2.50% 5/27/16		500,000		516,804
3.75% 3/27/19		700,000		758,301
4.75% 11/17/15		1,000,000		1,050,460
4.75% 1/19/16		750,000		793,860
4.875% 6/13/18		1,150,000		1,292,607
5.00% 2/16/17		500,000		548,133
5.00% 4/18/17		1,000,000		1,102,626
5.125% 11/17/17		250,000		279,475
5.25% 4/18/16		1,000,000		1,073,829
5.50% 8/23/17		500,000		562,595
5.625% 11/23/35		100,000		105,181
6.25% 7/15/32		750,000		1,046,382
6.75% 9/15/29		100,000		142,493
6.75% 3/15/31		300,000		432,226


	Principal Amount°		Value (U.S. $)

AGENCY OBLIGATIONS (continued)
Financing
9.40% 2/8/18		480,000	$	604,501
10.70% 10/6/17		150,000		191,624
Tennessee Valley Authority
3.875% 2/15/21		400,000		436,615
4.625% 9/15/60		150,000		162,652
4.65% 6/15/35		500,000		564,526
4.70% 7/15/33		200,000		227,305
4.875% 12/15/16		100,000		108,790
5.25% 9/15/39		225,000		274,257
5.375% 4/1/56		200,000		246,623
5.50% 7/18/17		100,000		112,154
5.88% 4/1/36		75,000		98,124
6.15% 1/15/38		100,000		135,056
7.125% 5/1/30		100,000		142,344


Total Agency Obligations (Cost $81,510,459)				83,115,845


COMMERCIAL MORTGAGE-BACKED SECURITIES–2.06%
Banc of America Commercial Mortgage Trust
Series 2006-6 A3 5.369% 10/10/45		250,000		254,335
Series 2006-6 A4 5.356% 10/10/45		450,000		473,742
ŸSeries 2007-2 A2 5.634% 4/10/49		31,165		31,149
ŸSeries 2007-2 A4 5.781% 4/10/49		400,000		434,070
ŸSeries 2007-3 A4 5.79% 6/10/49		200,000		216,802
Series 2007-5 A4 5.492% 2/10/51		25,000		26,914
Bear Stearns Commercial Mortgage Securities Trust
ŸSeries 2006-PWR12 A4 5.89% 9/11/38		99,197		105,507
Series 2006-PWR13 A4 5.54% 9/11/41		143,376		152,279
Series 2006-TOP24 A4 5.537% 10/12/41		958,604		1,026,732
ŸSeries 2007-PWR16 A4 5.897% 6/11/40		250,000		274,636
ŸSeries 2007-PWR17 A4 5.694% 6/11/50		500,000		546,516
Series 2007-PWR18 A4 5.70% 6/11/50		360,000		395,524
ŸSeries 2007-TOP28 AM 5.835% 9/11/42		1,075,000		1,185,462
Citigroup Commercial Mortgage Trust
ŸSeries 2007-C6 A4 5.899% 12/10/49		400,000		438,796
Series 2013-GC11 AS 3.422% 4/10/46		770,000		765,663
Series 2013-GC15 A1 1.378% 9/10/46		624,293		625,578
Citigroup/Deutsche Bank Commercial Mortgage Trust
ŸSeries 2006-CD2 A4 5.48% 1/15/46		650,000		676,993
Series 2006-CD3 A5 5.617% 10/15/48		447,199		472,011
ŸCOBALT Commercial Mortgage Trust Series 2007-C2 A3 5.484% 4/15/47		428,459		462,389
Commerical Mortgage Pass Through Certificates
ŸSeries 2006-C7 A4 5.948% 6/10/46		560,239		593,861
ŸSeries 2007-C9 A4 5.989% 12/10/49		500,000		550,576
Series 2013-LC6 AM 3.282% 1/10/46		1,000,000		986,133
¿Series 2014 CCRE 14 A3 3.955% 2/10/47		545,000		570,149


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Credit Suisse Commercial Mortgage Trust
ŸSeries 2006-C3 A3 5.999% 6/15/38		974,126	$	1,031,726
ŸSeries 2007-C3 A4 5.892% 6/15/39		177,789		191,762
ŸSeries 2008-C1 A3 6.173% 2/15/41		200,000		221,229
ŸFannie Mae-Aces Series 2014-M1 ASQ2 2.323% 11/25/18		3,000,000		3,005,418
Freddie Mac Multifamily Structured Pass Through Certificates
¿Series K006 A1 3.398% 7/25/19		1,358,131		1,423,378
¿Series K025 A1 1.875% 4/25/22		1,514,586		1,495,038
Ÿ¿Series K030 A2 3.25% 4/25/23		6,000,000		6,172,116
General Electric Capital Commercial Mortgage Series 2007-C1 A4 5.543% 12/10/49		725,000		777,206
Goldman Sachs Mortgage Securities II
ŸSeries 2006-GG6 A4 5.553% 4/10/38		100,000		104,200
ŸSeries 2007-GG10 A4 5.991% 8/10/45		453,485		495,251
Greenwich Capital Commercial Funding
Ÿ Series 2006-GG7 A4 6.014% 7/10/38		483,591		513,246
Series 2007-GG11 A4 5.736% 12/10/49		100,000		109,527
ŸJPMBB Commercial Mortgage Securities Trust Series 2013-C14 A4 4.133% 8/15/46		1,500,000		1,590,024
JPMorgan Chase Commercial Mortgage Securities Trust
ŸSeries 2005-CB13 AM 5.461% 1/12/43		500,000		520,474
ŸSeries 2006-CB15 A4 5.814% 6/12/43		214,914		228,403
Series 2006-CB17 A4 5.429% 12/12/43		365,000		389,009
Series 2006-LDP8 A4 5.399% 5/15/45		930,054		989,528
Series 2013-C10 ASB 2.702% 12/15/47		1,000,000		997,322
Lehman Brothers-UBS Commercial Mortgage Trust
ŸSeries 2005-C7 A4 5.197% 11/15/30		200,000		203,840
ŸSeries 2006-C4 A4 6.029% 6/15/38		886,425		943,296
Series 2006-C6 A4 5.372% 9/15/39		250,000		267,257
ŸSeries 2007-C6 A4 5.858% 7/15/40		564,531		598,156
ŸSeries 2007-C7 A3 5.866% 9/15/45		696,361		770,520
ŸSeries 2008-C1 A2 6.32% 4/15/41		350,000		391,607
Merrill Lynch Mortgage Trust
ŸSeries 2007-C1 A4 6.028% 6/12/50		255,000		279,777
Series 2008-C1 A4 5.69% 2/12/51		876,048		964,420
Merrill Lynch/Countrywide Commercial Mortgage Trust
Series 2006-4 A3 5.172% 12/12/49		750,000		797,950
Series 2007-5 A4 5.378% 8/12/48		310,444		331,882
ŸSeries 2007-9 AM 5.856% 9/12/49		1,050,000		1,157,848
Morgan Stanley Bank of America Merrill Lynch Trust
Series 2013-C11 A2 3.085% 8/15/46		750,000		775,683
Series 2013-C9 A4 3.102% 5/15/46		725,000		713,620
Morgan Stanley Capital I
ŸSeries 2006-HQ9 AJ 5.793% 7/12/44		500,000		528,965
ŸSeries 2007-HQ12 A4 5.773% 4/12/49		200,000		208,167
ŸSeries 2007-HQ12 A5 5.773% 4/12/49		250,000		268,073


	Principal Amount°		Value (U.S. $)

COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Morgan Stanley Capital I (continued)
ŸSeries 2007-IQ15 A4 6.105% 6/11/49		243,247	$	267,175
Series 2007-IQ16 A4 5.809% 12/12/49		1,496,003		1,634,717
UBS-Barclays Commercial Mortgage Trust Series 2012-C2 A4 3.525% 5/10/63		1,000,000		1,021,526
Wachovia Bank Commercial Mortgage Trust
ŸSeries 2006-C27 AM 5.795% 7/15/45		250,000		267,467
Series 2006-C29 AM 5.339% 11/15/48		750,000		806,019
ŸSeries 2007-C32 A3 5.933% 6/15/49		200,000		216,338
ŸSeries 2007-C33 A5 6.14% 2/15/51		500,000		548,607
Series 2007-C34 A3 5.678% 5/15/46		500,000		543,907
ŸWells Fargo Commercial Mortgage Trust Series 2013-LC12 B 4.438% 7/15/46		400,000		413,544
WFRBS Commercial Mortgage Trust
Series 2012-C9 A3 2.87% 11/15/45		940,000		921,016
ŸSeries 2013-C15 C 4.633% 8/15/46		1,000,000		1,018,322


Total Commercial Mortgage-Backed Securities (Cost $46,176,720)				48,380,373


CORPORATE BONDS–24.66%
Aerospace & Defense–0.37%
Boeing
4.875% 2/15/20		200,000		225,687
6.00% 3/15/19		100,000		116,278
6.125% 2/15/33		50,000		64,113
6.875% 3/15/39		100,000		141,039
Boeing Capital
2.125% 8/15/16		100,000		102,560
4.70% 10/27/19		300,000		334,691
Embraer Overseas 5.15% 6/15/22		50,000		53,187
General Dynamics
1.00% 11/15/17		100,000		98,923
2.25% 7/15/16		150,000		154,064
2.25% 11/15/22		250,000		237,398
Honeywell International
3.35% 12/1/23		200,000		204,232
4.25% 3/1/21		50,000		55,145
5.00% 2/15/19		100,000		112,192
5.30% 3/1/18		100,000		112,077
5.375% 3/1/41		65,000		77,475
5.70% 3/15/36		150,000		182,465
5.70% 3/15/37		100,000		122,675
L-3 Communications
3.95% 11/15/16		100,000		105,175
3.95% 5/28/24		450,000		447,382
4.75% 7/15/20		100,000		108,113
4.95% 2/15/21		100,000		108,845
Lockheed Martin
3.35% 9/15/21		100,000		103,062
4.07% 12/15/42		279,000		265,746
4.25% 11/15/19		200,000		218,458


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Aerospace & Defense (continued)
Lockheed Martin (continued)
4.85% 9/15/41		100,000	$	109,076
Northrop Grumman
1.75% 6/1/18		150,000		148,802
3.25% 8/1/23		350,000		346,732
3.50% 3/15/21		100,000		103,727
5.05% 11/15/40		100,000		108,894
Northrop Grumman Systems 7.75% 2/15/31		150,000		207,545
Precision Castparts
1.25% 1/15/18		200,000		197,568
2.50% 1/15/23		200,000		191,532
3.90% 1/15/43		50,000		48,380
Raytheon
2.50% 12/15/22		125,000		119,842
3.125% 10/15/20		200,000		205,414
4.40% 2/15/20		100,000		109,664
4.70% 12/15/41		200,000		215,460
6.40% 12/15/18		50,000		58,666
7.20% 8/15/27		100,000		132,737
Rockwell Collins
3.70% 12/15/23		150,000		155,703
4.80% 12/15/43		100,000		109,873
5.25% 7/15/19		50,000		55,694
United Technologies
1.80% 6/1/17		150,000		152,315
3.10% 6/1/22		409,000		409,467
4.50% 4/15/20		210,000		232,001
4.50% 6/1/42		400,000		420,232
5.375% 12/15/17		150,000		168,297
5.40% 5/1/35		200,000		236,542
6.05% 6/1/36		150,000		189,477
6.125% 2/1/19		250,000		291,360
6.125% 7/15/38		200,000		255,091
Worthington Industries 4.55% 4/15/26		40,000		41,518

				8,772,591

Air Freight & Logistics–0.09%
FedEx
2.625% 8/1/22		55,000		53,204
3.875% 8/1/42		100,000		90,439
4.00% 1/15/24		120,000		123,871
4.10% 4/15/43		100,000		93,925
4.90% 1/15/34		60,000		64,771
8.00% 1/15/19		100,000		123,355
Hunt (J.B.) Transport Services 3.85% 3/15/24		150,000		154,366
Ryder System 2.45% 9/3/19		250,000		248,885
United Parcel Service
2.45% 10/1/22		125,000		120,988
3.125% 1/15/21		350,000		362,994
3.625% 10/1/42		75,000		68,526


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Air Freight & Logistics (continued)
United Parcel Service (continued)
4.875% 11/15/40		55,000	$	61,280
5.125% 4/1/19		200,000		225,313
6.20% 1/15/38		255,000		332,122

				2,124,039

Airlines–0.07%
¿American Airlines Pass Through Trust Series 2013-2 Class A 4.95% 1/15/23		377,587		404,962
Continental Airlines Pass Through Trust
¿Series 2009-1 9.00% 7/8/16		149,272		164,199
¿Series 2010-1 Class A 4.75% 1/12/21		82,978		88,994
¿Series 2012-1 Class A 4.15% 4/11/24		237,695		245,420
Delta Air Lines Pass Through Trust
¿Series 2009-1 Class A 7.75% 12/17/19		61,324		71,749
¿Series 2010-1 Class A 6.20% 7/2/18		66,439		73,648
¿Series 2010-2 Class A 4.95% 5/23/19		72,510		77,948
¿Hawaiian Airlines Pass Through Certificates Series 2013-1 Class A 3.90% 1/15/26		40,000		39,820
Southwest Airlines 5.125% 3/1/17		100,000		107,994
¿United Airlines Pass Through Trust Series 2014-2 Class A 3.75% 9/3/26		200,000		202,500
US Airways Pass Through Trust
¿Series 2012-1 Class A 5.90% 10/1/24		46,355		51,918
¿Series 2012-2 Class A 4.625% 6/3/25		95,591		99,653
¿Series 2013-1 Class A 3.95% 11/15/25		100,000		100,750

				1,729,555

Auto Components–0.05%
Delphi 5.00% 2/15/23		300,000		322,050
Johnson Controls
3.625% 7/2/24		107,000		106,318
4.25% 3/1/21		60,000		64,261
4.95% 7/2/64		94,000		92,130
5.00% 3/30/20		100,000		110,612
5.50% 1/15/16		100,000		106,027
5.70% 3/1/41		70,000		80,185
Magna International 3.625% 6/15/24		200,000		199,137

				1,080,720

Automobiles–0.04%
Daimler Finance North America 8.50% 1/18/31		200,000		302,904
Ford Motor
4.75% 1/15/43		400,000		401,888
7.45% 7/16/31		250,000		330,953

				1,035,745

Beverages–0.53%
Anheuser-Busch 6.45% 9/1/37		100,000		129,756
Anheuser-Busch InBev Finance 1.125% 1/27/17		250,000		250,022


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Beverages (continued)
Anheuser-Busch InBev Finance (continued)
1.25% 1/17/18		250,000	$	245,675
2.625% 1/17/23		150,000		141,060
4.00% 1/17/43		100,000		92,352
4.625% 2/1/44		550,000		559,376
Anheuser-Busch InBev Worldwide
1.375% 7/15/17		250,000		249,837
2.50% 7/15/22		450,000		425,967
2.875% 2/15/16		45,000		46,262
3.75% 7/15/42		136,000		122,521
4.375% 2/15/21		30,000		32,586
5.375% 1/15/20		400,000		451,800
6.375% 1/15/40		200,000		257,014
7.75% 1/15/19		500,000		604,209
8.20% 1/15/39		200,000		304,264
Beam
1.75% 6/15/18		250,000		245,958
5.375% 1/15/16		9,000		9,498
Bottling Group
5.125% 1/15/19		200,000		224,017
5.50% 4/1/16		250,000		267,957
Brown-Forman
1.00% 1/15/18		250,000		244,022
2.50% 1/15/16		100,000		102,196
3.75% 1/15/43		125,000		117,327
Coca-Cola
1.50% 11/15/15		300,000		303,428
1.65% 3/14/18		250,000		251,156
1.80% 9/1/16		245,000		249,953
2.45% 11/1/20		500,000		503,185
3.15% 11/15/20		170,000		177,343
3.30% 9/1/21		250,000		259,510
5.35% 11/15/17		150,000		168,168
Coca-Cola Enterprises
3.50% 9/15/20		100,000		103,524
4.50% 9/1/21		200,000		218,583
Coca-Cola Femsa
2.375% 11/26/18		200,000		201,351
3.875% 11/26/23		200,000		206,916
Diageo Capital
0.625% 4/29/16		300,000		299,599
1.50% 5/11/17		125,000		125,706
2.625% 4/29/23		350,000		333,967
3.875% 4/29/43		30,000		28,058
4.828% 7/15/20		100,000		111,303
5.50% 9/30/16		100,000		108,988
5.75% 10/23/17		100,000		112,426
5.875% 9/30/36		100,000		123,085
Diageo Finance 5.30% 10/28/15		100,000		105,088
Diageo Investment 8.00% 9/15/22		100,000		130,402
Dr. Pepper Snapple Group
2.00% 1/15/20		66,000		64,401


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Beverages (continued)
Dr. Pepper Snapple Group (continued)
2.90% 1/15/16		200,000	$	205,504
6.82% 5/1/18		100,000		116,415
Fomento Economico Mexicano
2.875% 5/10/23		150,000		140,307
4.375% 5/10/43		200,000		182,360
Molson Coors Brewing 5.00% 5/1/42		250,000		252,268
PepsiCo
0.70% 2/26/16		187,000		187,468
1.25% 8/13/17		100,000		99,779
2.75% 3/1/23		250,000		241,707
3.00% 8/25/21		100,000		101,969
3.125% 11/1/20		250,000		258,734
3.60% 3/1/24		179,000		183,819
3.60% 8/13/42		250,000		222,883
4.00% 3/5/42		100,000		95,361
4.50% 1/15/20		100,000		110,710
4.875% 11/1/40		100,000		108,314
5.00% 6/1/18		150,000		167,073
5.50% 1/15/40		150,000		177,336
7.90% 11/1/18		200,000		245,864

				12,407,687

Biotechnology–0.24%
Amgen
2.125% 5/15/17		250,000		254,615
2.20% 5/22/19		650,000		643,533
2.30% 6/15/16		150,000		153,514
2.50% 11/15/16		100,000		102,883
3.625% 5/15/22		100,000		101,731
3.625% 5/22/24		150,000		148,937
3.875% 11/15/21		200,000		210,625
4.10% 6/15/21		100,000		106,511
4.50% 3/15/20		150,000		163,473
5.15% 11/15/41		250,000		264,842
5.65% 6/15/42		200,000		228,006
5.75% 3/15/40		200,000		229,702
6.15% 6/1/18		250,000		284,990
6.375% 6/1/37		100,000		121,775
6.40% 2/1/39		50,000		61,330
6.90% 6/1/38		150,000		194,779
Biogen Idec 6.875% 3/1/18		100,000		116,144
Celgene
2.30% 8/15/18		143,000		143,828
3.25% 8/15/22		250,000		248,743
3.625% 5/15/24		200,000		198,266
3.95% 10/15/20		100,000		106,078
4.00% 8/15/23		100,000		104,223
4.625% 5/15/44		300,000		295,504
Genentech 5.25% 7/15/35		50,000		58,148
Genzyme 5.00% 6/15/20		100,000		112,828


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Biotechnology (continued)
Gilead Sciences
4.40% 12/1/21		200,000	$	218,629
4.50% 4/1/21		100,000		109,764
4.80% 4/1/44		400,000		422,062
5.65% 12/1/41		250,000		293,969

				5,699,432

Building Products–0.03%
CRH America
6.00% 9/30/16		150,000		164,146
8.125% 7/15/18		125,000		151,039
#Martin Marietta Materials 144A 4.25% 7/2/24		55,000		55,890
Owens Corning
4.20% 12/15/22		212,000		216,123
7.00% 12/1/36		100,000		121,568

				708,766

Capital Markets–2.13%
Affiliated Managers Group 4.25% 2/15/24		100,000		102,857
Ameriprise Financial
5.30% 3/15/20		200,000		226,806
7.30% 6/28/19		200,000		243,087
Ares Capital 4.875% 11/30/18		100,000		105,798
Bank of America 7.75% 5/14/38		200,000		271,101
Bank of New York Mellon
0.70% 3/4/16		150,000		150,109
f1.969% 6/20/17		250,000		254,083
2.10% 8/1/18		500,000		504,745
2.10% 1/15/19		200,000		199,160
2.30% 7/28/16		200,000		205,415
3.55% 9/23/21		200,000		208,069
3.95% 11/18/25		100,000		104,719
4.15% 2/1/21		100,000		108,181
5.45% 5/15/19		100,000		113,931
Bear Stearns
4.65% 7/2/18		100,000		109,159
5.30% 10/30/15		200,000		209,869
5.55% 1/22/17		300,000		327,044
7.25% 2/1/18		300,000		349,278
BlackRock
3.375% 6/1/22		150,000		154,102
5.00% 12/10/19		100,000		113,136
6.25% 9/15/17		100,000		113,427
China Development Bank
5.00% 10/15/15		100,000		103,979
Comerica Bank 5.75% 11/21/16		100,000		109,632
Credit Suisse USA
5.375% 3/2/16		250,000		266,021
5.85% 8/16/16		100,000		108,813


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Capital Markets (continued)
Deutsche Bank
1.40% 2/13/17		300,000	$	300,058
3.25% 1/11/16		200,000		206,201
3.70% 5/30/24		490,000		486,725
Ÿ4.296% 5/24/28		200,000		191,268
6.00% 9/1/17		500,000		559,913
Export-Import Bank of Korea
1.25% 11/20/15		605,000		608,249
2.375% 8/12/19		200,000		198,713
3.75% 10/20/16		200,000		210,692
4.00% 1/11/17		100,000		105,535
4.00% 1/29/21		100,000		105,397
5.00% 4/11/22		250,000		279,907
5.125% 6/29/20		100,000		112,424
Franklin Resources 4.625% 5/20/20		100,000		111,005
FS Investment 4.00% 7/15/19		100,000		100,009
Goldman Sachs Group
1.60% 11/23/15		400,000		403,352
2.375% 1/22/18		500,000		505,431
2.90% 7/19/18		500,000		512,428
3.625% 2/7/16		300,000		310,129
3.625% 1/22/23		450,000		447,500
5.25% 7/27/21		400,000		443,825
5.35% 1/15/16		150,000		158,543
5.375% 3/15/20		200,000		222,833
5.625% 1/15/17		500,000		543,181
5.75% 10/1/16		700,000		760,440
5.75% 1/24/22		750,000		853,656
5.95% 1/18/18		200,000		224,068
5.95% 1/15/27		200,000		227,979
6.00% 6/15/20		500,000		575,119
6.125% 2/15/33		250,000		300,073
6.15% 4/1/18		500,000		564,049
6.25% 9/1/17		300,000		337,202
6.25% 2/1/41		255,000		309,950
6.45% 5/1/36		100,000		116,823
6.75% 10/1/37		800,000		956,834
7.50% 2/15/19		825,000		984,684
Invesco Finance 4.00% 1/30/24		500,000		522,449
Jefferies Group
5.125% 1/20/23		150,000		159,705
6.25% 1/15/36		100,000		105,760
8.50% 7/15/19		200,000		248,122
KFW
^0.419% 4/18/36		200,000		98,193
^0.43% 6/29/37		500,000		233,859
0.50% 4/19/16		650,000		650,244
0.75% 3/17/17		1,000,000		996,104
0.875% 9/5/17		350,000		346,925
1.00% 6/11/18		1,000,000		982,780
1.25% 10/26/15		500,000		505,217


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Capital Markets (continued)
KFW (continued)
1.25% 2/15/17		750,000	$	756,821
2.00% 6/1/16		700,000		717,290
2.00% 10/4/22		700,000		676,397
2.125% 1/17/23		1,000,000		971,914
2.625% 2/16/16		700,000		721,016
2.625% 1/25/22		400,000		407,306
2.75% 9/8/20		500,000		517,495
4.00% 1/27/20		750,000		825,887
4.375% 3/15/18		350,000		384,896
4.50% 7/16/18		800,000		887,274
4.875% 1/17/17		500,000		545,385
4.875% 6/17/19		500,000		569,323
5.125% 3/14/16		600,000		640,639
Korea Development Bank
3.00% 3/17/19		500,000		511,558
3.25% 3/9/16		200,000		206,201
3.50% 8/22/17		250,000		262,800
3.875% 5/4/17		200,000		211,762
4.00% 9/9/16		100,000		105,401
Korea Finance
2.25% 8/7/17		250,000		252,945
3.25% 9/20/16		100,000		103,934
Lazard Group 4.25% 11/14/20		106,000		110,963
Legg Mason 5.625% 1/15/44		100,000		109,235
Lloyds TSB Bank
2.30% 11/27/18		250,000		250,817
6.375% 1/21/21		300,000		357,470
Merrill Lynch
6.11% 1/29/37		200,000		229,663
6.40% 8/28/17		200,000		225,130
6.875% 4/25/18		800,000		923,464
6.875% 11/15/18		300,000		350,801
Morgan Stanley
1.75% 2/25/16		650,000		657,159
2.125% 4/25/18		300,000		300,225
2.50% 1/24/19		250,000		250,271
3.45% 11/2/15		200,000		205,717
3.75% 2/25/23		500,000		500,243
4.10% 5/22/23		350,000		349,411
4.35% 9/8/26		300,000		295,524
4.75% 3/22/17		500,000		537,621
4.875% 11/1/22		250,000		264,562
5.00% 11/24/25		175,000		183,252
5.375% 10/15/15		200,000		209,512
5.45% 1/9/17		300,000		326,032
5.50% 1/26/20		200,000		224,512
5.50% 7/28/21		300,000		338,378
5.55% 4/27/17		350,000		383,431
5.625% 9/23/19		350,000		394,418
5.75% 10/18/16		200,000		217,628


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Capital Markets (continued)
Morgan Stanley (continued)
5.75% 1/25/21		650,000	$	739,519
5.95% 12/28/17		300,000		336,254
6.25% 8/9/26		100,000		120,508
6.375% 7/24/42		850,000		1,065,106
6.625% 4/1/18		500,000		573,065
7.25% 4/1/32		100,000		133,068
7.30% 5/13/19		300,000		358,186
fMurray Street Investment Trust I 4.647% 3/9/17		300,000		321,294
NCUA Guaranteed Notes 2.35% 6/12/17		100,000		103,537
Nomura Holdings
2.00% 9/13/16		150,000		151,553
2.75% 3/19/19		100,000		100,280
4.125% 1/19/16		300,000		311,493
6.70% 3/4/20		83,000		98,899
Northern Trust
3.45% 11/4/20		100,000		105,352
3.95% 10/30/25		250,000		259,370
Oesterreichische Kontrollbank
1.125% 5/29/18		350,000		345,428
2.00% 6/3/16		300,000		307,251
4.875% 2/16/16		200,000		211,921
PennantPark Investment 4.50% 10/1/19		150,000		150,977
Prospect Capital 5.00% 7/15/19		200,000		208,473
Raymond James Financial 8.60% 8/15/19		200,000		249,774
Rentenbank
1.00% 4/4/18		500,000		492,965
1.375% 10/23/19		300,000		292,099
1.75% 4/15/19		125,000		124,833
2.375% 9/13/17		300,000		310,512
2.50% 2/15/16		200,000		205,637
5.125% 2/1/17		400,000		438,887
Schwab (Charles)
0.85% 12/4/15		200,000		200,722
3.225% 9/1/22		100,000		100,431
4.45% 7/22/20		100,000		110,055

				49,945,206

Chemicals–0.48%
Agrium
3.15% 10/1/22		100,000		97,422
6.125% 1/15/41		245,000		291,964
6.75% 1/15/19		100,000		117,055
Air Products & Chemicals
2.00% 8/2/16		55,000		56,168
3.35% 7/31/24		250,000		248,898
4.375% 8/21/19		50,000		54,921
Airgas 2.90% 11/15/22		150,000		145,207
Cabot 5.00% 10/1/16		50,000		53,502


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Chemicals (continued)
CF Industries
3.45% 6/1/23		38,000	$	37,320
4.95% 6/1/43		38,000		38,002
5.15% 3/15/34		450,000		475,668
7.125% 5/1/20		200,000		241,561
Dow Chemical
2.50% 2/15/16		260,000		265,734
3.00% 11/15/22		150,000		144,915
4.25% 11/15/20		200,000		213,664
4.375% 11/15/42		400,000		375,120
5.25% 11/15/41		100,000		104,116
5.70% 5/15/18		197,000		222,433
7.375% 11/1/29		125,000		165,535
8.55% 5/15/19		355,000		446,617
9.40% 5/15/39		100,000		159,321
duPont (E.I.) deNemours
2.80% 2/15/23		300,000		291,186
3.625% 1/15/21		100,000		105,412
4.15% 2/15/43		100,000		93,595
4.25% 4/1/21		150,000		163,086
5.25% 12/15/16		25,000		27,372
5.75% 3/15/19		100,000		115,245
6.00% 7/15/18		200,000		229,374
6.50% 1/15/28		150,000		188,646
Eastman Chemical
3.60% 8/15/22		225,000		227,126
4.80% 9/1/42		250,000		248,879
5.50% 11/15/19		100,000		113,266
Ecolab
3.00% 12/8/16		250,000		259,611
4.35% 12/8/21		200,000		217,011
FMC
3.95% 2/1/22		100,000		103,735
4.10% 2/1/24		100,000		103,585
International Flavors & Fragrances 3.20% 5/1/23		50,000		48,524
Lubrizol 8.875% 2/1/19		150,000		189,524
LYB International Finance 4.00% 7/15/23		200,000		207,301
LyondellBasell Industries
5.00% 4/15/19		500,000		552,512
6.00% 11/15/21		350,000		408,697
Monsanto
2.125% 7/15/19		400,000		398,333
2.20% 7/15/22		100,000		94,263
2.75% 4/15/16		100,000		103,033
3.60% 7/15/42		125,000		109,429
4.70% 7/15/64		250,000		250,018
5.125% 4/15/18		25,000		27,784
5.875% 4/15/38		50,000		61,084
Mosaic 4.25% 11/15/23		125,000		130,346


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Chemicals (continued)
Mosaic (continued)
5.45% 11/15/33		104,000	$	115,308
5.625% 11/15/43		200,000		224,057
NewMarket 4.10% 12/15/22		50,000		50,127
Potash
3.625% 3/15/24		200,000		204,050
4.875% 3/30/20		10,000		11,138
6.50% 5/15/19		145,000		172,275
PPG Industries
1.90% 1/15/16		100,000		101,404
3.60% 11/15/20		100,000		103,822
7.70% 3/15/38		96,000		138,024
Praxair
1.05% 11/7/17		175,000		173,236
1.25% 11/7/18		100,000		97,655
2.20% 8/15/22		100,000		94,546
2.70% 2/21/23		100,000		97,587
4.05% 3/15/21		100,000		108,032
4.50% 8/15/19		100,000		110,117
Rohm & Haas 7.85% 7/15/29		150,000		206,736
RPM International 6.125% 10/15/19		100,000		114,295
Syngenta Finance 3.125% 3/28/22		100,000		100,613
Valspar 7.25% 6/15/19		50,000		59,623
Westlake Chemical 3.60% 7/15/22		50,000		49,938

				11,355,703

Commercial Banks–2.44%
Abbey National Treasury Services
2.35% 9/10/19		335,000		331,097
3.05% 8/23/18		250,000		259,332
4.00% 4/27/16		150,000		156,952
American Express Bank 6.00% 9/13/17		250,000		281,675
American Express Centurion Bank
5.95% 6/12/17		100,000		112,130
6.00% 9/13/17		100,000		112,701
Australia & New Zealand Banking Group
0.90% 2/12/16		250,000		251,177
1.25% 6/13/17		350,000		349,087
1.45% 5/15/18		250,000		246,059
Banco do Brasil 3.875% 10/10/22		300,000		279,000
BanColombia 5.95% 6/3/21		200,000		220,500
Bank of America North America
1.125% 11/14/16		300,000		299,358
1.25% 2/14/17		650,000		648,357
5.30% 3/15/17		650,000		704,627
6.00% 10/15/36		400,000		483,362
Bank of Montreal
1.30% 7/15/16		194,000		195,648
1.45% 4/9/18		500,000		494,877
2.50% 1/11/17		300,000		309,063
2.55% 11/6/22		300,000		290,092


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
Bank of Nova Scotia
0.95% 3/15/16		100,000	$	100,418
1.10% 12/13/16		400,000		400,884
1.25% 4/11/17		200,000		199,808
1.375% 7/15/16		200,000		201,933
1.375% 12/18/17		150,000		148,350
1.45% 4/25/18		250,000		246,714
2.05% 10/7/15		200,000		203,257
2.55% 1/12/17		300,000		309,410
2.80% 7/21/21		550,000		544,370
Bank One 8.00% 4/29/27		100,000		134,095
Barclays Bank
3.75% 5/15/24		500,000		497,875
4.375% 9/11/24		250,000		242,683
5.00% 9/22/16		400,000		429,595
5.125% 1/8/20		250,000		280,849
5.14% 10/14/20		200,000		216,022
BB&T
2.05% 6/19/18		350,000		351,621
3.20% 3/15/16		200,000		206,843
3.95% 4/29/16		100,000		105,081
4.90% 6/30/17		100,000		108,796
5.20% 12/23/15		100,000		105,225
BBVA US Senior 4.664% 10/9/15		300,000		311,414
BNP Paribas
2.375% 9/14/17		250,000		254,477
2.70% 8/20/18		300,000		305,851
3.25% 3/3/23		500,000		493,419
3.60% 2/23/16		400,000		414,657
5.00% 1/15/21		300,000		333,700
BPCE
1.70% 4/25/16		250,000		252,917
2.50% 12/10/18		250,000		250,858
2.50% 7/15/19		250,000		248,523
Branch Banking & Trust
1.35% 10/1/17		250,000		248,475
1.45% 10/3/16		250,000		252,295
2.30% 10/15/18		250,000		253,344
Canadian Imperial Bank of Commerce
1.35% 7/18/16		200,000		202,097
1.55% 1/23/18		200,000		199,742
2.35% 12/11/15		150,000		153,057
Comerica
2.125% 5/23/19		50,000		49,610
3.80% 7/22/26		60,000		59,699
Commonwealth Bank of Australia
1.90% 9/18/17		250,000		252,456
2.25% 3/13/19		250,000		250,077
2.30% 9/6/19		250,000		248,580
2.50% 9/20/18		200,000		204,086
Compass Bank 6.40% 10/1/17		100,000		110,198
#Corpbanca 144A 3.875% 9/22/19		300,000		302,118


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
Credit Suisse New York
2.30% 5/28/19		250,000	$	247,781
3.625% 9/9/24		700,000		691,482
4.375% 8/5/20		200,000		216,896
5.30% 8/13/19		100,000		112,481
6.00% 2/15/18		500,000		561,072
Discover Bank
2.00% 2/21/18		250,000		249,000
4.20% 8/8/23		250,000		259,295
Fifth Third Bancorp
3.50% 3/15/22		200,000		204,138
3.625% 1/25/16		200,000		207,105
4.30% 1/16/24		250,000		257,804
5.45% 1/15/17		100,000		108,811
8.25% 3/1/38		100,000		147,929
Fifth Third Bank 1.15% 11/18/16		300,000		300,265
First Horizon National 5.375% 12/15/15		150,000		157,258
HSBC Bank USA
5.625% 8/15/35		500,000		590,693
5.875% 11/1/34		100,000		121,351
7.00% 1/15/39		100,000		136,707
HSBC Holdings
4.00% 3/30/22		500,000		527,044
4.25% 3/14/24		300,000		304,129
5.10% 4/5/21		300,000		338,063
5.25% 3/14/44		250,000		266,434
6.10% 1/14/42		200,000		253,342
6.50% 5/2/36		200,000		246,016
6.50% 9/15/37		200,000		246,844
6.80% 6/1/38		200,000		257,395
HSBC USA
1.625% 1/16/18		500,000		498,597
2.25% 6/23/19		300,000		299,103
5.00% 9/27/20		300,000		328,288
Huntington Bancshares 2.60% 8/2/18		250,000		252,887
Intesa Sanpaolo
3.875% 1/16/18		300,000		313,065
3.875% 1/15/19		600,000		623,068
KeyBank
1.65% 2/1/18		250,000		249,218
5.45% 3/3/16		100,000		106,358
KeyCorp 5.10% 3/24/21		300,000		334,621
Manufacturers & Traders Trust
2.25% 7/25/19		350,000		348,303
2.30% 1/30/19		250,000		251,038
National Australia Bank 3.00% 1/20/23		500,000		490,035
National City 6.875% 5/15/19		100,000		118,611
PNC Bank
1.15% 11/1/16		269,000		269,900
1.30% 10/3/16		250,000		251,669
2.70% 11/1/22		250,000		238,874


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
PNC Bank (continued)
4.20% 11/1/25		1,000,000	$	1,049,178
6.875% 4/1/18		150,000		173,885
PNC Funding
2.70% 9/19/16		200,000		206,469
3.30% 3/8/22		300,000		302,090
5.125% 2/8/20		100,000		112,883
5.25% 11/15/15		200,000		210,034
6.70% 6/10/19		150,000		178,631
Rabobank
1.70% 3/19/18		250,000		249,975
2.125% 10/13/15		200,000		203,432
2.25% 1/14/19		300,000		301,548
3.375% 1/19/17		400,000		419,731
3.875% 2/8/22		250,000		263,767
3.95% 11/9/22		250,000		251,497
4.50% 1/11/21		150,000		163,822
4.625% 12/1/23		350,000		363,281
5.25% 5/24/41		150,000		168,884
Regions Financial 2.00% 5/15/18		250,000		247,263
Royal Bank of Canada
0.625% 12/4/15		250,000		250,266
0.80% 10/30/15		150,000		150,451
1.20% 1/23/17		250,000		250,119
1.20% 9/19/17		350,000		348,392
1.25% 6/16/17		450,000		449,178
1.45% 9/9/16		750,000		757,920
2.15% 3/15/19		200,000		200,700
2.20% 7/27/18		150,000		151,908
2.20% 9/23/19		550,000		549,564
2.30% 7/20/16		100,000		102,729
2.625% 12/15/15		100,000		102,398
2.875% 4/19/16		200,000		206,583
Royal Bank of Scotland
4.375% 3/16/16		300,000		314,463
5.625% 8/24/20		150,000		170,977
Royal Bank of Scotland Group
1.875% 3/31/17		200,000		200,224
6.40% 10/21/19		300,000		349,405
Societe Generale 2.75% 10/12/17		150,000		154,277
Sumitomo Mitsui Banking
1.30% 1/10/17		250,000		250,173
1.80% 7/18/17		250,000		251,776
2.45% 1/10/19		300,000		303,490
2.50% 7/19/18		250,000		254,515
3.20% 7/18/22		250,000		251,319
SunTrust Bank
1.35% 2/15/17		200,000		200,003
7.25% 3/15/18		200,000		231,262
SunTrust Banks 2.50% 5/1/19		450,000		452,159
SVB Financial Group 5.375% 9/15/20		150,000		168,228


	Principal		Value
	Amount°		(U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
Svenska Handelsbanken
1.625% 3/21/18		250,000	$	249,019
2.50% 1/25/19		250,000		254,651
3.125% 7/12/16		200,000		207,968
Toronto-Dominion Bank
1.125% 5/2/17		250,000		248,774
1.40% 4/30/18		350,000		344,659
1.50% 9/9/16		200,000		202,644
2.125% 7/2/19		200,000		198,406
2.50% 7/14/16		200,000		206,403
2.625% 9/10/18		100,000		102,344
U.S. Bancorp
1.65% 5/15/17		150,000		151,458
1.95% 11/15/18		200,000		199,787
2.20% 11/15/16		200,000		205,839
2.95% 7/15/22		200,000		194,382
3.00% 3/15/22		150,000		149,673
UBS
4.875% 8/4/20		595,000		663,201
5.75% 4/25/18		350,000		394,984
5.875% 7/15/16		500,000		541,502
5.875% 12/20/17		475,000		535,185
Union Bank
2.625% 9/26/18		250,000		254,391
3.00% 6/6/16		250,000		258,379
US Bancorp
3.442% 2/1/16		1,000,000		1,033,406
3.60% 9/11/24		250,000		247,567
3.70% 1/30/24		250,000		258,250
US Bank 1.375% 9/11/17		250,000		249,865
Wachovia
5.50% 8/1/35		150,000		170,709
5.625% 10/15/16		100,000		108,915
5.75% 2/1/18		600,000		676,850
Wachovia Bank
5.85% 2/1/37		450,000		554,688
6.00% 11/15/17		300,000		338,709
6.60% 1/15/38		450,000		602,956
Wells Fargo
1.15% 6/2/17		250,000		248,573
1.25% 7/20/16		800,000		805,010
1.50% 1/16/18		250,000		248,748
2.15% 1/15/19		187,000		187,403
3.30% 9/9/24		250,000		245,567
3.45% 2/13/23		250,000		245,925
3.50% 3/8/22		600,000		613,895
f3.676% 6/15/16		750,000		784,431
4.10% 6/3/26		740,000		738,416
4.125% 8/15/23		300,000		310,522
4.60% 4/1/21		350,000		383,844
5.375% 11/2/43		175,000		191,871
5.625% 12/11/17		150,000		168,003


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Commercial Banks (continued)
Wells Fargo Capital X 5.95% 12/15/36		100,000	$	103,250
Westpac Banking
1.05% 11/25/16		350,000		350,588
1.20% 5/19/17		158,000		157,597
1.60% 1/12/18		250,000		249,459
2.00% 8/14/17		250,000		253,921
2.25% 7/30/18		100,000		101,091
2.25% 1/17/19		150,000		151,021
4.875% 11/19/19		250,000		279,195

				57,256,286

Commercial Services & Supplies–0.10%
Avery Dennison 5.375% 4/15/20		50,000		55,298
Cintas No. 2
2.85% 6/1/16		100,000		103,004
4.30% 6/1/21		60,000		65,156
Dun & Bradstreet 2.875% 11/15/15		55,000		56,250
Pitney Bowes
4.75% 1/15/16		100,000		104,876
4.75% 5/15/18		200,000		213,815
Republic Services
3.80% 5/15/18		100,000		106,328
4.75% 5/15/23		100,000		109,946
5.25% 11/15/21		100,000		113,477
5.50% 9/15/19		299,000		340,661
5.70% 5/15/41		50,000		58,999
Verisk Analytics 4.125% 9/12/22		100,000		103,158
Waste Management
3.50% 5/15/24		250,000		249,733
6.125% 11/30/39		200,000		248,313
7.00% 7/15/28		125,000		163,915
7.375% 3/11/19		100,000		120,808
7.75% 5/15/32		100,000		142,944

				2,356,681

Communications Equipment–0.16%
Cisco Systems
1.10% 3/3/17		570,000		569,958
2.90% 3/4/21		115,000		116,265
3.625% 3/4/24		100,000		102,425
4.45% 1/15/20		300,000		329,744
4.95% 2/15/19		450,000		503,929
5.50% 2/22/16		430,000		457,999
5.50% 1/15/40		200,000		232,702
5.90% 2/15/39		300,000		362,807
Ericsson 4.125% 5/15/22		250,000		261,334
Harris
5.95% 12/1/17		150,000		169,256
6.375% 6/15/19		35,000		40,033
Juniper Networks
4.60% 3/15/21		100,000		106,700
5.95% 3/15/41		100,000		109,653


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Communications Equipment (continued)
Motorola Solutions
3.50% 3/1/23		100,000	$	96,854
4.00% 9/1/24		250,000		244,523

				3,704,182

Computers & Peripherals–0.29%
Apple
0.45% 5/3/16		200,000		199,661
1.00% 5/3/18		750,000		731,875
2.40% 5/3/23		822,000		778,154
3.45% 5/6/24		350,000		353,911
3.85% 5/4/43		350,000		325,352
4.45% 5/6/44		600,000		614,036
EMC
1.875% 6/1/18		250,000		248,743
2.65% 6/1/20		300,000		298,231
3.375% 6/1/23		250,000		245,787
Hewlett-Packard
2.60% 9/15/17		425,000		436,840
3.00% 9/15/16		150,000		155,312
3.30% 12/9/16		300,000		313,183
4.30% 6/1/21		200,000		212,569
4.375% 9/15/21		150,000		160,283
4.65% 12/9/21		350,000		379,453
5.50% 3/1/18		200,000		223,639
6.00% 9/15/41		305,000		348,923
Lexmark International 5.125% 3/15/20		100,000		105,393
NetApp 3.375% 6/15/21		150,000		151,138
#Seagate HDD Cayman 144A 3.75% 11/15/18		600,000		613,500

				6,895,983

Construction & Engineering–0.03%
ABB Finance USA
2.875% 5/8/22		250,000		247,505
4.375% 5/8/42		187,000		192,027
Leucadia National 5.50% 10/18/23		200,000		209,752
URS 5.00% 4/1/22		100,000		101,505

				750,789

Consumer Finance–0.69%
American Express
1.55% 5/22/18		250,000		246,529
2.65% 12/2/22		115,000		111,066
4.05% 12/3/42		135,000		128,261
6.15% 8/28/17		300,000		337,991
Ÿ6.80% 9/1/66		100,000		107,000
7.00% 3/19/18		100,000		116,519
8.125% 5/20/19		100,000		125,024
American Express Credit
1.30% 7/29/16		500,000		503,561
2.125% 7/27/18		500,000		503,166
2.25% 8/15/19		200,000		198,828


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Consumer Finance (continued)
American Express Credit (continued)
2.375% 3/24/17		150,000	$	153,587
2.80% 9/19/16		200,000		206,705
American Honda Finance
1.20% 7/14/17		200,000		199,325
2.125% 10/10/18		200,000		201,170
Capital One 2.40% 9/5/19		300,000		297,202
Capital One Bank
2.25% 2/13/19		500,000		496,027
8.80% 7/15/19		200,000		254,657
Capital One Financial
2.45% 4/24/19		350,000		348,905
3.15% 7/15/16		60,000		62,147
3.50% 6/15/23		600,000		595,406
4.75% 7/15/21		100,000		108,853
6.15% 9/1/16		100,000		109,316
Caterpillar Financial Services
1.00% 3/3/17		100,000		99,705
1.35% 9/6/16		500,000		504,669
2.05% 8/1/16		125,000		127,832
2.45% 9/6/18		250,000		255,399
2.65% 4/1/16		100,000		102,959
3.30% 6/9/24		150,000		149,899
5.50% 3/15/16		200,000		213,910
7.15% 2/15/19		200,000		240,738
Discover Financial Services 5.20% 4/27/22		100,000		109,661
Ford Motor Credit
1.70% 5/9/16		200,000		201,761
1.724% 12/6/17		550,000		546,542
2.375% 1/16/18		250,000		252,503
2.375% 3/12/19		200,000		198,181
3.00% 6/12/17		250,000		258,186
3.664% 9/8/24		250,000		245,321
3.984% 6/15/16		250,000		261,951
4.207% 4/15/16		250,000		261,552
5.00% 5/15/18		500,000		546,527
5.75% 2/1/21		200,000		227,488
5.875% 8/2/21		750,000		863,601
HSBC Finance 6.676% 1/15/21		323,000		379,142
ŸHSBC Finance Capital Trust IX 5.911% 11/30/35		200,000		206,250
John Deere Capital
1.05% 10/11/16		100,000		100,279
1.05% 12/15/16		150,000		150,292
1.70% 1/15/20		350,000		339,130
2.25% 6/7/16		100,000		102,482
2.25% 4/17/19		200,000		201,840
2.30% 9/16/19		500,000		500,395
2.80% 3/4/21		200,000		201,313
5.50% 4/13/17		150,000		165,699


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Consumer Finance (continued)
Paccar Financial
0.70% 11/16/15		150,000	$	150,393
1.15% 8/16/16		150,000		151,266
1.60% 3/15/17		100,000		101,038
Toyota Motor Credit
0.80% 5/17/16		100,000		100,274
1.25% 10/5/17		250,000		248,617
1.75% 5/22/17		150,000		152,001
2.00% 9/15/16		250,000		255,358
2.10% 1/17/19		350,000		351,099
2.125% 7/18/19		200,000		199,573
2.75% 5/17/21		250,000		252,639
2.80% 1/11/16		200,000		205,798
3.30% 1/12/22		400,000		412,996
3.40% 9/15/21		200,000		207,511

				16,215,015

Containers & Packaging–0.04%
Bemis
4.50% 10/15/21		300,000		323,187
6.80% 8/1/19		10,000		11,799
Packaging Corporation of America
3.90% 6/15/22		50,000		51,061
4.50% 11/1/23		150,000		158,937
Rock-Tenn 4.90% 3/1/22		200,000		214,718
Sonoco Products
4.375% 11/1/21		100,000		105,507
5.75% 11/1/40		100,000		115,532

				980,741

Diversified Consumer Services–0.06%
Cornell University 5.45% 2/1/19		200,000		228,002
George Washington University 4.30% 9/15/44		100,000		101,186
Massachusetts Institute of Technology 5.60% 7/1/11		200,000		257,898
President and Fellows of Harvard College 3.619% 10/1/37		72,000		69,613
Princeton University 4.95% 3/1/19		100,000		112,913
5.70% 3/1/39		50,000		64,388
Stanford University
4.25% 5/1/16		100,000		105,272
4.75% 5/1/19		250,000		280,826
Trustees of Dartmouth College 4.75% 6/1/19		50,000		55,746
Vanderbilt University 5.25% 4/1/19		50,000		56,629
Yale University 2.086% 4/15/19		100,000		100,315

				1,432,788

Diversified Financial Services–2.06%
Air Lease
3.375% 1/15/19		250,000		254,375


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Financial Services (continued)
Air Lease (continued)
3.875% 4/1/21		125,000		$126,875
4.25% 9/15/24		300,000		295,875
Bank of America
1.35% 11/21/16		200,000		200,376
1.50% 10/9/15		400,000		403,122
2.00% 1/11/18		500,000		498,218
2.60% 1/15/19		543,000		542,270
3.30% 1/11/23		1,000,000		976,369
3.75% 7/12/16		500,000		522,169
3.875% 3/22/17		250,000		263,350
4.00% 4/1/24		475,000		480,516
4.10% 7/24/23		350,000		357,709
5.00% 5/13/21		350,000		384,900
5.00% 1/21/44		650,000		688,405
5.25% 12/1/15		200,000		209,497
5.625% 10/14/16		400,000		434,196
5.625% 7/1/20		250,000		282,649
5.65% 5/1/18		500,000		556,604
5.75% 12/1/17		550,000		612,433
5.875% 1/5/21		250,000		287,126
5.875% 2/7/42		218,000		262,174
6.00% 9/1/17		500,000		557,799
6.50% 8/1/16		200,000		218,385
7.625% 6/1/19		300,000		362,782
BP Capital Markets
0.70% 11/6/15		150,000		150,154
1.375% 11/6/17		150,000		149,081
1.375% 5/10/18		150,000		147,438
1.846% 5/5/17		150,000		151,699
2.237% 5/10/19		400,000		397,985
2.241% 9/26/18		100,000		100,410
2.75% 5/10/23		250,000		236,567
3.125% 10/1/15		250,000		256,821
3.20% 3/11/16		200,000		207,210
3.245% 5/6/22		200,000		198,827
3.994% 9/26/23		250,000		259,195
4.742% 3/11/21		500,000		552,409
4.75% 3/10/19		300,000		330,752
Citigroup
1.25% 1/15/16		500,000		502,741
1.55% 8/14/17		250,000		248,270
1.75% 5/1/18		500,000		493,436
2.50% 7/29/19		500,000		495,880
3.375% 3/1/23		200,000		197,287
3.75% 6/16/24		400,000		399,248
3.875% 10/25/23		350,000		356,083
3.953% 6/15/16		250,000		262,681
4.05% 7/30/22		107,000		108,554
4.45% 1/10/17		500,000		533,025
4.50% 1/14/22		730,000		783,915


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Financial Services (continued)
Citigroup (continued)
4.587% 12/15/15		25,000	$	26,123
5.30% 5/6/44		167,000		174,181
5.375% 8/9/20		200,000		226,614
5.50% 2/15/17		450,000		488,083
5.50% 9/13/25		200,000		218,255
5.85% 8/2/16		100,000		108,245
5.875% 2/22/33		200,000		225,026
5.875% 1/30/42		150,000		181,452
6.00% 8/15/17		100,000		112,072
6.00% 10/31/33		100,000		112,276
6.125% 11/21/17		300,000		338,676
6.125% 5/15/18		350,000		396,612
6.125% 8/25/36		200,000		230,041
6.625% 6/15/32		100,000		121,197
6.675% 9/13/43		150,000		184,501
6.875% 3/5/38		350,000		463,472
8.125% 7/15/39		350,000		520,331
8.50% 5/22/19		300,000		375,362
CME Group
3.00% 9/15/22		300,000		299,517
5.30% 9/15/43		100,000		114,894
Countrywide Financial 6.25% 5/15/16		450,000		485,230
ŸGE Capital Trust I 6.375% 11/15/67		200,000		216,500
General Electric Capital
1.00% 1/8/16		250,000		251,027
1.60% 11/20/17		250,000		250,655
1.625% 4/2/18		250,000		249,764
2.25% 11/9/15		200,000		203,576
2.30% 4/27/17		250,000		257,034
2.90% 1/9/17		200,000		207,835
2.95% 5/9/16		200,000		207,076
3.10% 1/9/23		600,000		594,457
3.15% 9/7/22		500,000		498,852
4.375% 9/16/20		750,000		820,974
4.65% 10/17/21		500,000		551,567
5.00% 1/8/16		250,000		263,594
5.30% 2/11/21		800,000		902,374
5.375% 10/20/16		400,000		435,844
5.50% 1/8/20		100,000		114,731
5.625% 5/1/18		1,050,000		1,187,651
5.875% 1/14/38		950,000		1,148,200
6.00% 8/7/19		100,000		116,752
Ÿ6.375% 11/15/67		100,000		108,500
6.75% 3/15/32		780,000		1,031,271
6.875% 1/10/39		700,000		945,299
Goldman Sachs Group 3.85% 7/8/24		400,000		398,120
IntercontinentalExchange Group 4.00% 10/15/23		200,000		208,982
#International Lease Finance 144A 6.75% 9/1/16		400,000		433,000


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Financial Services (continued)
JPMorgan Chase
1.10% 10/15/15		150,000	$	150,662
1.125% 2/26/16		450,000		452,010
1.35% 2/15/17		400,000		399,360
1.625% 5/15/18		250,000		246,718
1.80% 1/25/18		600,000		599,191
2.00% 8/15/17		450,000		454,151
3.15% 7/5/16		500,000		517,611
3.20% 1/25/23		1,000,000		977,238
3.25% 9/23/22		350,000		345,088
3.375% 5/1/23		200,000		191,799
3.45% 3/1/16		500,000		517,995
3.625% 5/13/24		250,000		248,632
3.875% 2/1/24		250,000		256,339
4.25% 10/15/20		750,000		800,831
4.35% 8/15/21		600,000		642,299
4.40% 7/22/20		700,000		754,794
4.50% 1/24/22		350,000		375,585
5.40% 1/6/42		200,000		228,122
5.50% 10/15/40		100,000		115,005
5.60% 7/15/41		500,000		574,462
6.00% 10/1/17		950,000		1,062,891
6.00% 1/15/18		400,000		450,411
6.30% 4/23/19		200,000		232,127
6.40% 5/15/38		450,000		568,246
Moody’s 4.50% 9/1/22		250,000		264,045
NASDAQ OMX Group
5.25% 1/16/18		60,000		65,700
5.55% 1/15/20		100,000		110,435
National Rural Utilities Cooperative Finance
1.10% 1/27/17		150,000		149,844
2.35% 6/15/20		300,000		298,457
3.05% 3/1/16		100,000		103,357
4.023% 11/1/32		100,000		100,816
•4.75% 4/30/43		100,000		99,125
5.45% 2/1/18		25,000		28,022
8.00% 3/1/32		150,000		217,076
10.375% 11/1/18		100,000		131,795
NYSE Euronext 2.00% 10/5/17		150,000		151,517
Private Export Funding
1.375% 2/15/17		275,000		277,846
1.875% 7/15/18		250,000		249,426
2.45% 7/15/24		250,000		237,837
4.30% 12/15/21		100,000		111,524
4.95% 11/15/15		100,000		105,082
Synchrony Financial
1.875% 8/15/17		45,000		45,092
4.25% 8/15/24		150,000		150,199

				48,362,399


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Telecommunication Services–1.11%
AT&T
0.90% 2/12/16		350,000	$	350,529
1.40% 12/1/17		550,000		547,313
2.375% 11/27/18		300,000		303,105
2.40% 8/15/16		175,000		179,165
2.625% 12/1/22		500,000		473,851
2.95% 5/15/16		200,000		206,637
3.00% 2/15/22		400,000		396,781
3.875% 8/15/21		30,000		31,493
4.35% 6/15/45		532,000		490,980
4.45% 5/15/21		100,000		108,436
4.80% 6/15/44		687,000		679,528
5.35% 9/1/40		638,000		678,956
5.50% 2/1/18		500,000		559,605
5.55% 8/15/41		40,000		43,611
5.80% 2/15/19		150,000		172,059
6.15% 9/15/34		150,000		179,608
6.30% 1/15/38		200,000		237,392
6.40% 5/15/38		5,000		6,172
6.50% 9/1/37		150,000		182,835
6.55% 2/15/39		550,000		692,059
Bellsouth 8.00% 11/15/31		360,000		532,649
British Telecommunications
2.35% 2/14/19		300,000		300,904
9.625% 12/15/30		350,000		550,950
Deutsche Telekom International Finance
5.75% 3/23/16		300,000		320,649
6.00% 7/8/19		250,000		289,360
8.75% 6/15/30		460,000		670,470
Embarq 7.995% 6/1/36		150,000		162,510
France Telecom
2.75% 9/14/16		100,000		103,056
4.125% 9/14/21		100,000		105,700
5.375% 7/8/19		300,000		338,025
5.375% 1/13/42		100,000		109,345
9.00% 3/1/31		800,000		1,181,591
GTE
6.94% 4/15/28		100,000		122,438
8.75% 11/1/21		100,000		134,088
Koninklijke KPN 8.375% 10/1/30		100,000		138,302
Nippon Telegraph & Telephone
1.40% 7/18/17		100,000		99,921
Qwest
6.75% 12/1/21		150,000		172,207
6.875% 9/15/33		250,000		250,735
Telefonica Emisiones
3.192% 4/27/18		250,000		258,059
3.992% 2/16/16		170,000		176,960
5.134% 4/27/20		90,000		99,045
5.462% 2/16/21		140,000		156,124
5.877% 7/15/19		100,000		114,451


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Diversified Telecommunication Services (continued)
Telefonica Emisiones (continued)
6.421% 6/20/16		175,000	$	190,269
7.045% 6/20/36		175,000		222,359
Telefonica Europe 8.25% 9/15/30		200,000		271,682
Telefonos de Mexico 5.50% 11/15/19		100,000		113,708
Verizon Communications
0.70% 11/2/15		150,000		150,173
2.45% 11/1/22		200,000		185,964
2.50% 9/15/16		391,000		401,472
3.45% 3/15/21		500,000		507,900
3.65% 9/14/18		1,150,000		1,212,351
3.85% 11/1/42		150,000		131,520
4.50% 9/15/20		686,000		742,736
4.60% 4/1/21		250,000		272,554
#144A 4.862% 8/21/46		692,000		695,643
5.05% 3/15/34		800,000		849,203
5.15% 9/15/23		1,300,000		1,440,624
6.00% 4/1/41		100,000		116,898
6.35% 4/1/19		250,000		291,048
6.40% 9/15/33		1,320,000		1,610,880
6.40% 2/15/38		350,000		425,371
6.55% 9/15/43		2,000,000		2,502,412
6.90% 4/15/38		650,000		840,223

				26,082,644

Electric Utilities–1.40%
Alabama Power
5.50% 3/15/41		185,000		224,222
6.125% 5/15/38		100,000		129,145
Ameren Illinois 4.80% 12/15/43		150,000		163,740
American Electric Power
1.65% 12/15/17		200,000		200,068
2.95% 12/15/22		125,000		122,203
Appalachian Power
4.60% 3/30/21		150,000		165,899
5.00% 6/1/17		100,000		108,942
6.70% 8/15/37		235,000		307,170
Arizona Public Service
4.50% 4/1/42		100,000		104,377
5.05% 9/1/41		100,000		113,636
Atlantic City Electric 7.75% 11/15/18		15,000		18,121
Baltimore Gas & Electric
3.35% 7/1/23		100,000		101,188
6.35% 10/1/36		100,000		130,002
Berkshire Hathaway Energy
3.75% 11/15/23		200,000		205,556
5.15% 11/15/43		200,000		222,220
Black Hills 4.25% 11/30/23		100,000		105,446
Carolina Power & Light
4.10% 3/15/43		100,000		99,679
5.30% 1/15/19		100,000		113,169
6.30% 4/1/38		250,000		329,535


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Electric Utilities (continued)
CenterPoint Energy Houston Electric 2.25% 8/1/22		250,000	$	237,965
Cleco Power 6.50% 12/1/35		50,000		63,003
Cleveland Electric Illuminating
5.50% 8/15/24		200,000		230,725
5.95% 12/15/36		100,000		114,412
CMS Energy 4.875% 3/1/44		100,000		104,585
Commonwealth Edison
3.40% 9/1/21		100,000		104,327
4.00% 8/1/20		300,000		323,222
5.95% 8/15/16		150,000		163,834
6.45% 1/15/38		100,000		136,001
Connecticut Light & Power 5.65% 5/1/18		100,000		113,244
Consumers Energy
2.85% 5/15/22		100,000		99,843
3.125% 8/31/24		100,000		99,593
3.375% 8/15/23		200,000		205,910
3.95% 5/15/43		150,000		146,245
5.65% 9/15/18		100,000		114,391
5.65% 4/15/20		100,000		115,887
Dayton Power & Light 1.875% 9/15/16		75,000		76,034
Delmarva Power & Light
3.50% 11/15/23		150,000		153,975
4.00% 6/1/42		100,000		97,394
Detroit Edison
2.65% 6/15/22		50,000		49,235
6.625% 6/1/36		100,000		134,800
Dominion Gas Holdings
1.05% 11/1/16		250,000		249,847
4.80% 11/1/43		94,000		100,871
Duke Energy
1.625% 8/15/17		250,000		251,161
2.10% 6/15/18		250,000		252,073
5.05% 9/15/19		100,000		112,072
Duke Energy Carolinas
3.90% 6/15/21		100,000		107,479
4.00% 9/30/42		150,000		147,536
4.30% 6/15/20		100,000		109,825
5.25% 1/15/18		250,000		277,608
5.30% 2/15/40		100,000		118,120
6.10% 6/1/37		170,000		211,761
7.00% 11/15/18		100,000		119,212
Duke Energy Florida 5.65% 6/15/18		150,000		170,495
Duke Energy Indiana
6.12% 10/15/35		100,000		122,981
6.45% 4/1/39		130,000		174,260
Duke Energy Ohio
3.80% 9/1/23		500,000		524,167
5.45% 4/1/19		50,000		56,987
Empresa Nacional de Electricidad
4.25% 4/15/24		100,000		100,481


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Electric Utilities (continued)
Entergy
4.70% 1/15/17		100,000	$	107,011
5.125% 9/15/20		100,000		110,005
Entergy Arkansas
3.05% 6/1/23		100,000		98,626
3.70% 6/1/24		200,000		206,017
Entergy Louisiana 4.05% 9/1/23		150,000		160,502
Entergy Mississippi 3.10% 7/1/23		100,000		98,767
Entergy Texas 7.125% 2/1/19		200,000		239,033
FirstEnergy Solutions 6.80% 8/15/39		150,000		164,718
Florida Power
3.85% 11/15/42		100,000		95,218
6.40% 6/15/38		300,000		401,230
Florida Power & Light
3.80% 12/15/42		100,000		95,667
4.05% 6/1/42		150,000		150,138
5.69% 3/1/40		50,000		62,453
5.85% 5/1/37		100,000		126,770
5.95% 2/1/38		200,000		253,138
5.96% 4/1/39		100,000		128,410
6.20% 6/1/36		200,000		259,586
Georgia Power
0.625% 11/15/15		250,000		250,193
4.25% 12/1/19		80,000		87,996
4.30% 3/15/42		200,000		200,665
4.30% 3/15/43		100,000		100,175
4.75% 9/1/40		100,000		107,239
5.25% 12/15/15		25,000		26,450
5.95% 2/1/39		100,000		124,225
Great Plains Energy 4.85% 6/1/21		50,000		55,155
Hydro-Quebec
1.375% 6/19/17		100,000		100,612
2.00% 6/30/16		300,000		306,798
8.05% 7/7/24		250,000		345,485
8.50% 12/1/29		115,000		173,517
Iberdrola International 6.75% 7/15/36		100,000		123,067
Indiana Michigan Power 7.00% 3/15/19		100,000		119,634
Interstate Power & Light 6.25% 7/15/39		130,000		170,571
ITC Holdings 3.65% 6/15/24		75,000		74,919
Jersey Central Power & Light 7.35% 2/1/19		100,000		119,232
Kansas City Power & Light 6.375% 3/1/18		200,000		226,559
Kentucky Utilities
1.625% 11/1/15		100,000		101,047
3.25% 11/1/20		100,000		103,651
4.65% 11/14/43		150,000		162,623
5.125% 11/1/40		100,000		116,248
LG&E & KU Energy 2.125% 11/15/15		200,000		202,541
MidAmerican Energy
2.40% 3/15/19		250,000		253,631


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Electric Utilities (continued)
MidAmerican Energy (continued)
4.40% 10/15/44		100,000	$	103,408
4.80% 9/15/43		250,000		274,579
5.30% 3/15/18		100,000		111,468
5.75% 11/1/35		25,000		30,586
5.95% 7/15/17		200,000		225,696
MidAmerican Energy Holdings
5.75% 4/1/18		100,000		113,019
5.95% 5/15/37		125,000		153,409
6.125% 4/1/36		250,000		310,387
6.50% 9/15/37		100,000		129,730
Nevada Power
5.45% 5/15/41		60,000		72,944
6.50% 8/1/18		50,000		58,405
6.75% 7/1/37		100,000		136,228
7.125% 3/15/19		100,000		120,695
NextEra Energy Capital Holdings
3.625% 6/15/23		100,000		101,433
4.50% 6/1/21		100,000		108,534
6.00% 3/1/19		200,000		229,484
Northeast Utilities
1.45% 5/1/18		250,000		246,235
4.50% 11/15/19		110,000		119,862
Northern States Power
2.60% 5/15/23		100,000		96,222
5.25% 3/1/18		100,000		111,771
5.35% 11/1/39		40,000		47,372
6.20% 7/1/37		100,000		130,524
Ohio Edison
6.875% 7/15/36		100,000		131,208
8.25% 10/15/38		100,000		155,186
Oklahoma Gas & Electric
4.55% 3/15/44		150,000		158,581
5.25% 5/15/41		100,000		118,115
Oncor Electric Delivery
4.10% 6/1/22		100,000		107,456
4.55% 12/1/41		150,000		161,783
5.30% 6/1/42		200,000		236,543
6.80% 9/1/18		100,000		117,335
7.00% 9/1/22		100,000		126,427
7.00% 5/1/32		50,000		68,579
Pacific Gas & Electric
3.25% 9/15/21		200,000		203,731
3.25% 6/15/23		250,000		247,973
3.40% 8/15/24		150,000		149,215
5.125% 11/15/43		200,000		223,694
6.05% 3/1/34		500,000		618,195
6.25% 3/1/39		300,000		386,821
8.25% 10/15/18		200,000		246,077
PacifiCorp
2.95% 6/1/23		100,000		99,070


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Electric Utilities (continued)
PacifiCorp (continued)
4.10% 2/1/42		100,000	$	99,196
5.75% 4/1/37		100,000		124,615
6.00% 1/15/39		100,000		127,245
6.35% 7/15/38		25,000		33,620
7.70% 11/15/31		100,000		146,767
PECO Energy
5.35% 3/1/18		200,000		223,567
5.95%10/1/36		100,000		128,825
Portland General Electric
6.10% 4/15/19		100,000		116,153
Potomac Electric Power
7.90% 12/15/38		100,000		154,989
PPL Capital Funding
3.40% 6/1/23		200,000		197,439
3.50% 12/1/22		100,000		100,827
3.95% 3/15/24		200,000		206,002
4.20% 6/15/22		150,000		159,921
PPL Electric Utilities
3.00% 9/15/21		100,000		101,373
4.125% 6/15/44		100,000		101,241
6.25% 5/15/39		30,000		39,587
Progress Energy
6.00% 12/1/39		50,000		61,840
7.05% 3/15/19		100,000		120,008
7.75% 3/1/31		150,000		211,369
Public Service Electric & Gas
2.375% 5/15/23		200,000		190,087
3.50% 8/15/20		150,000		157,821
3.75% 3/15/24		150,000		157,147
5.30% 5/1/18		50,000		56,093
5.50% 3/1/40		100,000		123,928
Public Service of Colorado
3.20% 11/15/20		100,000		103,995
3.95% 3/15/43		250,000		248,339
5.125% 6/1/19		135,000		153,033
6.25% 9/1/37		100,000		132,204
Public Service of Oklahoma
5.15% 12/1/19		75,000		83,774
Sierra Pacific Power 6.00% 5/15/16		100,000		108,085
South Carolina Electric & Gas
5.25% 11/1/18		80,000		90,518
6.05% 1/15/38		225,000		286,077
Southern
1.95% 9/1/16		300,000		306,047
2.15% 9/1/19		300,000		297,339
2.45% 9/1/18		90,000		91,630
Southern California Edison
3.50% 10/1/23		150,000		154,645
3.875% 6/1/21		70,000		75,546
3.90% 3/15/43		100,000		95,699


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Electric Utilities (continued)
Southern California Edison (continued)
4.05% 3/15/42		300,000	$	295,147
4.50% 9/1/40		100,000		105,863
4.65% 10/1/43		100,000		107,870
5.55% 1/15/36		59,000		71,073
5.95% 2/1/38		25,000		31,339
6.00% 1/15/34		200,000		253,732
6.05% 3/15/39		170,000		218,415
6.65% 4/1/29		100,000		128,645
Southwestern Electric Power
6.20% 3/15/40		200,000		255,540
Tampa Electric
2.60% 9/15/22		100,000		96,755
4.10% 6/15/42		100,000		99,190
4.35% 5/15/44		50,000		51,652
6.10% 5/15/18		50,000		57,230
TECO Finance 6.572% 11/1/17		100,000		114,131
Union Electric
3.50% 4/15/24		100,000		102,714
3.90% 9/15/42		250,000		241,757
8.45% 3/15/39		80,000		131,142
Virginia Electric & Power
2.75% 3/15/23		100,000		97,905
4.45% 2/15/44		625,000		651,289
4.65% 8/15/43		150,000		161,772
5.00% 6/30/19		200,000		225,122
5.95% 9/15/17		100,000		113,107
6.00% 5/15/37		25,000		31,745
6.35% 11/30/37		100,000		133,266
8.875% 11/15/38		100,000		164,411
Westar Energy 4.10% 4/1/43		300,000		301,387
Western Massachusetts Electric
3.50% 9/15/21		150,000		156,992
Wisconsin Electric Power
1.70% 6/15/18		250,000		248,956
2.95% 9/15/21		100,000		101,441
4.25% 12/15/19		25,000		27,270
Wisconsin Public Service
4.752% 11/1/44		200,000		224,161
Xcel Energy
0.75% 5/9/16		200,000		199,785
4.70% 5/15/20		100,000		111,000
6.50% 7/1/36		100,000		131,052

				32,862,828


Electrical Equipment–0.04%
Cooper
2.375% 1/15/16		100,000		102,143
3.875% 12/15/20		100,000		106,039
Emerson Electric
4.25% 11/15/20		50,000		53,913


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Electrical Equipment (continued)
Emerson Electric (continued)
5.25% 10/15/18		225,000	$	253,247
5.25% 11/15/39		50,000		58,621
Rockwell Automation 6.25% 12/1/37		100,000		128,427
Roper Industries 6.25% 9/1/19		100,000		116,097

				818,487

Electronic Equipment, Instruments & Components–0.04%
Amphenol 2.55% 1/30/19		150,000		151,125
Arrow Electronics
3.00% 3/1/18		100,000		102,577
6.00% 4/1/20		50,000		56,745
Avnet 4.875% 12/1/22		100,000		105,803
Corning
4.25% 8/15/20		65,000		70,813
4.75% 3/15/42		250,000		265,547
5.75% 8/15/40		25,000		29,966
6.625% 5/15/19		20,000		23,768
Owens & Minor 3.875% 9/15/21		50,000		50,137
Tech Data 3.75% 9/21/17		100,000		103,643

				960,124

Energy Equipment & Services–0.31%
Baker Hughes
5.125% 9/15/40		200,000		223,657
6.875% 1/15/29		100,000		133,612
Cameron International
1.15% 12/15/16		63,000		62,986
4.00% 12/15/23		100,000		104,025
5.125% 12/15/43		56,000		60,102
5.95% 6/1/41		100,000		118,043
6.375% 7/15/18		100,000		115,174
Diamond Offshore Drilling
3.45% 11/1/23		125,000		119,689
5.70% 10/15/39		100,000		104,807
5.875% 5/1/19		40,000		45,442
ENSCO
3.25% 3/15/16		100,000		103,043
4.50% 10/1/24		400,000		402,149
4.70% 3/15/21		350,000		368,010
FMC Technologies 3.45% 10/1/22		100,000		98,400
Global Marine 7.00% 6/1/28		150,000		164,826
Halliburton
2.00% 8/1/18		250,000		251,685
3.25% 11/15/21		200,000		205,300
4.75% 8/1/43		200,000		211,289
5.90% 9/15/18		50,000		57,443
6.15% 9/15/19		250,000		294,465
7.45% 9/15/39		200,000		284,097
Nabors Industries
4.625% 9/15/21		150,000		161,452


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Energy Equipment & Services (continued)
Nabors Industries (continued)
5.10% 9/15/23		100,000	$	108,532
6.15% 2/15/18		100,000		112,942
9.25% 1/15/19		150,000		189,909
National Oilwell Varco
2.60% 12/1/22		200,000		191,398
3.95% 12/1/42		150,000		141,957
Rowan
4.75% 1/15/24		75,000		75,531
4.875% 6/1/22		100,000		104,048
5.40% 12/1/42		175,000		164,656
7.875% 8/1/19		65,000		78,669
Schlumberger Investment
3.65% 12/1/23		104,000		107,832
Transocean
4.95% 11/15/15		200,000		207,751
6.00% 3/15/18		325,000		350,712
6.375% 12/15/21		150,000		159,784
6.50% 11/15/20		100,000		106,391
6.80% 3/15/38		400,000		390,640
7.35% 12/15/41		100,000		108,347
Weatherford International
4.50% 4/15/22		100,000		104,273
5.95% 4/15/42		100,000		107,784
6.00% 3/15/18		150,000		168,867
6.75% 9/15/40		100,000		117,486
7.00% 3/15/38		150,000		177,903
9.625% 3/1/19		100,000		128,502
9.875% 3/1/39		50,000		77,338

				7,170,948

Food & Staples Retailing–0.46%
Costco Wholesale
0.65% 12/7/15		150,000		150,299
5.50% 3/15/17		450,000		496,821
CVS Health
2.25% 8/12/19		250,000		247,743
2.75% 12/1/22		200,000		191,173
4.00% 12/5/23		600,000		625,961
4.125% 5/15/21		100,000		107,245
4.75% 5/18/20		100,000		111,843
5.75% 6/1/17		150,000		166,779
5.75% 5/15/41		150,000		177,628
6.25% 6/1/27		130,000		163,824
Delhaize America 9.00% 4/15/31		125,000		168,312
Delhaize Group
4.125% 4/10/19		100,000		105,365
5.70% 10/1/40		500,000		532,513
Kroger
1.20% 10/17/16		93,000		93,032
2.20% 1/15/17		100,000		101,975
2.30% 1/15/19		250,000		250,429


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Food & Staples Retailing (continued)
Kroger (continued)
3.30% 1/15/21		250,000	$	253,829
3.40% 4/15/22		50,000		50,217
3.90% 10/1/15		130,000		134,261
5.00% 4/15/42		100,000		103,951
6.90% 4/15/38		100,000		128,595
7.50% 4/1/31		250,000		327,019
Safeway 3.95% 8/15/20		120,000		120,578
Sysco
3.00% 10/2/21		155,000		155,530
4.35% 10/2/34		65,000		66,161
5.375% 3/17/19		100,000		113,086
6.625% 3/17/39		50,000		67,119
Walgreen
1.80% 9/15/17		100,000		100,433
3.10% 9/15/22		150,000		145,279
5.25% 1/15/19		150,000		166,794
Wal-Mart Stores
0.60% 4/11/16		600,000		599,975
1.125% 4/11/18		200,000		197,456
1.50% 10/25/15		200,000		202,376
2.55% 4/11/23		300,000		288,427
2.80% 4/15/16		400,000		413,893
3.25% 10/25/20		300,000		312,873
3.625% 7/8/20		100,000		106,575
4.00% 4/11/43		325,000		317,467
4.125% 2/1/19		100,000		109,231
4.875% 7/8/40		300,000		328,713
5.00% 10/25/40		200,000		226,943
5.25% 9/1/35		300,000		347,699
5.625% 4/15/41		250,000		303,962
5.80% 2/15/18		200,000		227,330
5.875% 4/5/27		100,000		124,489
6.20% 4/15/38		300,000		384,414
6.50% 8/15/37		350,000		465,734
7.55% 2/15/30		200,000		284,375

				10,865,726


Food Products–0.37%
Archer-Daniels-Midland
4.016% 4/16/43		100,000		95,686
4.479% 3/1/21		235,000		259,269
5.375% 9/15/35		100,000		117,509
5.45% 3/15/18		100,000		112,141
Bunge Limited Finance
4.10% 3/15/16		100,000		104,377
8.50% 6/15/19		135,000		167,990
Campbell Soup
2.50% 8/2/22		61,000		57,563
3.05% 7/15/17		100,000		104,323
4.25% 4/15/21		250,000		268,678
4.50% 2/15/19		35,000		38,043


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Food Products (continued)
ConAgra Foods
1.90% 1/25/18		250,000	$	248,700
3.20% 1/25/23		250,000		240,202
4.65% 1/25/43		125,000		121,180
5.819% 6/15/17		50,000		55,231
6.625% 8/15/39		50,000		61,412
7.00% 4/15/19		100,000		118,750
8.25% 9/15/30		100,000		141,934
General Mills
3.15% 12/15/21		200,000		203,343
3.65% 2/15/24		111,000		113,310
5.40% 6/15/40		45,000		51,285
5.65% 2/15/19		100,000		113,782
5.70% 2/15/17		100,000		110,533
Hershey 4.125% 12/1/20		200,000		218,014
Ingredion
1.80% 9/25/17		100,000		100,481
3.20% 11/1/15		100,000		102,344
Kellogg
1.75% 5/17/17		150,000		151,273
3.125% 5/17/22		150,000		150,221
3.25% 5/21/18		135,000		140,710
4.00% 12/15/20		64,000		68,594
7.45% 4/1/31		100,000		131,535
Kraft Foods
4.125% 2/9/16		250,000		260,938
6.125% 2/1/18		150,000		169,753
6.50% 8/11/17		500,000		566,325
6.50% 11/1/31		350,000		444,965
6.875% 2/1/38		250,000		325,289
Kraft Foods Group
2.25% 6/5/17		150,000		152,900
3.50% 6/6/22		150,000		152,088
5.00% 6/4/42		250,000		262,359
5.375% 2/10/20		250,000		282,012
6.125% 8/23/18		150,000		172,221
6.50% 2/9/40		150,000		186,405
McCormick
3.50% 9/1/23		107,000		110,166
3.90% 7/15/21		50,000		53,625
Mead Johnson Nutrition
4.90% 11/1/19		100,000		110,443
5.90% 11/1/39		50,000		59,535
Tyson Foods
3.95% 8/15/24		240,000		240,898
4.50% 6/15/22		200,000		212,303
Unilever Capital
2.20% 3/6/19		250,000		252,565
2.75% 2/10/16		100,000		102,952
4.25% 2/10/21		200,000		220,172


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Food Products (continued)
Unilever Capital (continued)
4.80% 2/15/19		100,000	$	111,948
5.90% 11/15/32		133,000		175,571

				8,593,846

Gas Utilities–0.13%
AGL Capital
4.40% 6/1/43		100,000		101,223
5.25% 8/15/19		100,000		112,205
5.875% 3/15/41		70,000		86,433
Atmos Energy 8.50% 3/15/19		100,000		125,536
CenterPoint Energy 5.95% 2/1/17		100,000		110,355
CenterPoint Energy Resources
4.50% 1/15/21		65,000		71,175
5.85% 1/15/41		115,000		141,868
6.00% 5/15/18		100,000		113,314
Laclede Group 4.70% 8/15/44		100,000		101,136
National Fuel Gas
3.75% 3/1/23		156,000		154,743
8.75% 5/1/19		115,000		143,033
One Gas
#144A 3.61% 2/1/24		100,000		103,258
#144A 4.658% 2/1/44		50,000		54,826
Panhandle Eastern Pipe Line
6.20% 11/1/17		50,000		56,785
7.00% 6/15/18		300,000		346,040
Piedmont Natural Gas 4.65% 8/1/43		50,000		54,147
Questar 2.75% 2/1/16		85,000		86,961
Southern California Gas
3.15% 9/15/24		100,000		99,805
4.45% 3/15/44		150,000		160,017
5.75% 11/15/35		100,000		125,960
Southern Natural Gas
4.40% 6/15/21		300,000		315,417
#144A 5.90% 4/1/17		25,000		27,692
8.00% 3/1/32		100,000		127,563
Southwest Gas 4.875% 10/1/43		100,000		112,245

				2,931,737

Health Care Equipment & Supplies–0.26%
Bard (C.R.)
2.875% 1/15/16		100,000		102,701
4.40% 1/15/21		65,000		70,824
Baxter International
0.95% 6/1/16		250,000		250,906
3.20% 6/15/23		225,000		222,417
3.65% 8/15/42		100,000		90,873
4.50% 8/15/19		250,000		274,144
6.25% 12/1/37		50,000		64,301
Becton, Dickinson
1.75% 11/8/16		200,000		203,442


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Health Care Equipment & Supplies (continued)
Becton, Dickinson (continued)
3.125% 11/8/21		200,000	$	205,026
3.25% 11/12/20		100,000		103,574
5.00% 11/12/40		35,000		39,060
6.00% 5/15/39		100,000		125,672
Boston Scientific
2.65% 10/1/18		125,000		126,342
6.00% 1/15/20		100,000		114,143
6.40% 6/15/16		100,000		108,771
7.375% 1/15/40		201,000		278,939
CareFusion
3.30% 3/1/23		100,000		97,605
4.875% 5/15/44		100,000		98,849
6.375% 8/1/19		150,000		173,207
Covidien International Finance
2.95% 6/15/23		100,000		96,759
3.20% 6/15/22		150,000		152,016
4.20% 6/15/20		100,000		108,333
6.00% 10/15/17		25,000		28,261
6.55% 10/15/37		100,000		130,945
DENTSPLY International 2.75% 8/15/16		55,000		56,591
Edwards Lifesciences 2.875% 10/15/18		150,000		152,598
Medtronic
1.375% 4/1/18		125,000		123,197
2.625% 3/15/16		100,000		102,836
2.75% 4/1/23		125,000		120,188
3.125% 3/15/22		150,000		149,674
3.625% 3/15/24		500,000		511,303
4.00% 4/1/43		350,000		331,790
4.50% 3/15/42		100,000		102,700
5.55% 3/15/40		100,000		118,717
5.60% 3/15/19		200,000		227,641
St. Jude Medical 3.25% 4/15/23		200,000		198,191
Stryker
1.30% 4/1/18		100,000		98,290
2.00% 9/30/16		45,000		45,941
3.375% 5/15/24		150,000		149,291
4.375% 1/15/20		100,000		109,244
4.375% 5/15/44		100,000		100,584
Zimmer Holdings 5.75% 11/30/39		100,000		117,460

				6,083,346

Health Care Providers & Services–0.48%
Aetna
1.75% 5/15/17		100,000		100,672
2.20% 3/15/19		300,000		297,444
2.75% 11/15/22		150,000		143,722
4.50% 5/15/42		100,000		98,762
6.50% 9/15/18		200,000		233,319
6.625% 6/15/36		100,000		129,909
6.75% 12/15/37		100,000		132,199


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Health Care Providers & Services (continued)
AmerisourceBergen
3.40% 5/15/24		250,000	$	248,719
4.875% 11/15/19		200,000		221,756
Cardinal Health
3.20% 3/15/23		100,000		98,088
4.625% 12/15/20		100,000		109,743
5.80% 10/15/16		100,000		109,417
CIGNA
2.75% 11/15/16		100,000		103,415
5.375% 2/15/42		400,000		442,292
5.875% 3/15/41		200,000		244,253
7.875% 5/15/27		25,000		32,818
Coventry Health Care 5.45% 6/15/21		80,000		91,955
Express Scripts Holding
2.65% 2/15/17		200,000		205,780
3.125% 5/15/16		200,000		207,234
3.90% 2/15/22		450,000		466,835
4.75% 11/15/21		200,000		218,748
6.125% 11/15/41		300,000		372,128
Howard Hughes Medical Institute
3.50% 9/1/23		150,000		154,841
Humana
3.15% 12/1/22		100,000		97,790
4.625% 12/1/42		175,000		172,035
7.20% 6/15/18		100,000		118,009
Kaiser Foundation Hospitals
3.50% 4/1/22		50,000		50,484
Laboratory Corporation of America Holdings
2.20% 8/23/17		250,000		253,303
4.625% 11/15/20		150,000		160,140
McKesson
0.95% 12/4/15		200,000		200,301
2.284% 3/15/19		250,000		248,437
3.25% 3/1/16		250,000		258,197
4.75% 3/1/21		300,000		334,431
4.883% 3/15/44		125,000		129,217
Medco Health Solutions 7.125% 3/15/18		225,000		262,165
Quest Diagnostics
2.70% 4/1/19		150,000		150,907
3.20% 4/1/16		200,000		206,461
4.75% 1/30/20		60,000		64,865
5.75% 1/30/40		100,000		109,643
UnitedHealth Group
1.875% 11/15/16		500,000		509,057
2.75% 2/15/23		107,000		103,620
2.875% 3/15/23		250,000		244,517
4.25% 3/15/43		100,000		98,068
4.375% 3/15/42		100,000		99,457
4.625% 11/15/41		200,000		207,354
4.70% 2/15/21		100,000		111,731
6.00% 2/15/18		200,000		227,501
6.50% 6/15/37		150,000		197,538


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Health Care Providers & Services (continued)
UnitedHealth Group (continued)
6.625% 11/15/37		100,000	$	131,562
6.875% 2/15/38		100,000		137,366
WellPoint
2.30% 7/15/18		250,000		250,873
3.125% 5/15/22		250,000		247,355
3.50% 8/15/24		250,000		244,315
4.35% 8/15/20		100,000		108,069
4.625% 5/15/42		100,000		97,795
4.65% 1/15/43		125,000		123,457
4.65% 8/15/44		100,000		97,562
5.85% 1/15/36		125,000		147,391
5.875% 6/15/17		50,000		55,613
6.375% 6/15/37		100,000		123,550
7.00% 2/15/19		400,000		477,036

				11,321,221

Hotels, Restaurants & Leisure–0.16%
Brinker International 3.875% 5/15/23		100,000		98,357
Carnival
1.20% 2/5/16		100,000		100,352
3.95% 10/15/20		133,000		139,426
Darden Restaurants 6.80% 10/15/37		84,000		93,691
Hyatt Hotels 3.875% 8/15/16		100,000		104,839
International Game Technology
5.35% 10/15/23		100,000		103,020
5.50% 6/15/20		100,000		105,866
Marriott International
3.375% 10/15/20		208,000		213,714
6.375% 6/15/17		100,000		112,466
McDonald’s
1.875% 5/29/19		250,000		248,318
2.625% 1/15/22		100,000		98,704
3.25% 6/10/24		300,000		298,072
3.625% 5/20/21		100,000		106,248
3.625% 5/1/43		100,000		89,573
5.80% 10/15/17		300,000		338,720
6.30% 3/1/38		50,000		64,496
Starbucks
3.85% 10/1/23		100,000		104,633
6.25% 8/15/17		100,000		113,415
Starwood Hotels & Resorts Worldwide
3.125% 2/15/23		211,000		202,586
Wyndham Worldwide 4.25% 3/1/22		300,000		304,207
Yum Brands
3.75% 11/1/21		65,000		66,645
3.875% 11/1/23		250,000		251,906
5.30% 9/15/19		150,000		166,592
5.35% 11/1/43		100,000		109,173

				3,635,019


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Household Durables–0.17%
Clorox 5.95% 10/15/17		100,000	$	112,587
Energizer Holdings 4.70% 5/19/21		100,000		103,255
Kimberly-Clark
1.90% 5/22/19		250,000		247,669
3.875% 3/1/21		45,000		47,976
6.125% 8/1/17		200,000		226,113
6.625% 8/1/37		100,000		135,751
7.50% 11/1/18		100,000		121,373
Leggett & Platt 3.40% 8/15/22		50,000		49,853
MDC Holdings
5.50% 1/15/24		83,000		82,178
5.625% 2/1/20		100,000		104,750
Mohawk Industries 6.125% 1/15/16		117,000		124,748
Newell Rubbermaid 4.70% 8/15/20		200,000		214,693
Procter & Gamble
1.60% 11/15/18		200,000		199,152
1.80% 11/15/15		250,000		253,833
2.30% 2/6/22		250,000		245,131
3.10% 8/15/23		200,000		202,825
4.70% 2/15/19		200,000		223,710
4.85% 12/15/15		50,000		52,617
5.50% 2/1/34		100,000		122,511
5.55% 3/5/37		200,000		246,311
Tupperware Brands 4.75% 6/1/21		100,000		106,338
Whirlpool
3.70% 3/1/23		650,000		654,065
4.70% 6/1/22		100,000		108,119

				3,985,558

Independent Power Producers & Energy Traders–0.08%
Constellation Energy Group 5.15% 12/1/20		200,000		221,727
Exelon Generation
4.25% 6/15/22		250,000		258,065
5.60% 6/15/42		292,000		313,093
6.20% 10/1/17		25,000		28,131
6.25% 10/1/39		100,000		116,786
Oglethorpe Power
4.55% 6/1/44		100,000		100,415
5.95% 11/1/39		100,000		121,677
PSEG Power
4.15% 9/15/21		250,000		264,210
5.125% 4/15/20		60,000		66,545
5.50% 12/1/15		100,000		105,303
Southern Power 5.25% 7/15/43		120,000		133,828
TransAlta 6.50% 3/15/40		250,000		256,959

				1,986,739

Industrial Conglomerates–0.19%
3M
1.00% 6/26/17		100,000		99,638


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Industrial Conglomerates (continued)
3M (continued)
1.375% 9/29/16		250,000	$	253,728
2.00% 6/26/22		500,000		477,314
3.875% 6/15/44		150,000		147,799
5.70% 3/15/37		100,000		126,369
6.375% 2/15/28		25,000		32,895
Danaher
2.30% 6/23/16		100,000		102,713
3.90% 6/23/21		100,000		107,588
5.625% 1/15/18		100,000		112,620
General Electric
0.85% 10/9/15		250,000		251,146
2.70% 10/9/22		750,000		731,308
4.125% 10/9/42		311,000		310,272
5.25% 12/6/17		550,000		610,469
Koninklijke Philips Electronics
3.75% 3/15/22		100,000		103,735
5.00% 3/15/42		100,000		107,517
5.75% 3/11/18		300,000		338,333
6.875% 3/11/38		50,000		67,184
Tyco Electronics Group
2.35% 8/1/19		75,000		74,921
2.375% 12/17/18		60,000		60,198
3.50% 2/3/22		150,000		153,580
6.55% 10/1/17		100,000		113,947
Tyco International Finance
8.50% 1/15/19		100,000		121,708

				4,504,982

Insurance–0.97%
ACE INA Holdings
2.60% 11/23/15		150,000		153,196
2.70% 3/13/23		100,000		96,233
4.15% 3/13/43		100,000		98,533
5.70% 2/15/17		50,000		55,198
5.90% 6/15/19		125,000		144,481
Aegon 4.625% 12/1/15		100,000		104,521
AFLAC
6.45% 8/15/40		100,000		125,257
6.90% 12/17/39		130,000		173,637
8.50% 5/15/19		200,000		253,378
Alleghany
4.90% 9/15/44		95,000		93,978
4.95% 6/27/22		100,000		108,455
Allied World Assurance 7.50% 8/1/16		200,000		221,799
Allstate
4.50% 6/15/43		100,000		102,786
5.55% 5/9/35		150,000		177,059
Ÿ5.75% 8/15/53		225,000		240,047
7.45% 5/16/19		100,000		122,793
American Financial Group
9.875% 6/15/19		100,000		129,164


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Insurance (continued)
American International Group
2.30% 7/16/19		350,000	$	347,826
4.875% 6/1/22		500,000		550,849
5.05% 10/1/15		200,000		208,773
5.85% 1/16/18		300,000		337,732
6.25% 5/1/36		100,000		125,454
6.40% 12/15/20		200,000		238,255
Ÿ8.175% 5/15/58		500,000		676,250
8.25% 8/15/18		734,000		897,311
AON
3.125% 5/27/16		100,000		103,423
3.50% 6/14/24		100,000		98,116
4.00% 11/27/23		150,000		156,126
4.45% 5/24/43		100,000		97,168
5.00% 9/30/20		100,000		111,166
Arch Capital Group US 5.144% 11/1/43		105,000		113,499
Aspen Insurance Holdings
4.65% 11/15/23		100,000		103,699
Assurant 2.50% 3/15/18		150,000		150,763
Assured Guaranty US Holdings
5.00% 7/1/24		100,000		101,162
AXA 8.60% 12/15/30		200,000		269,500
Axis Specialty Finance 5.875% 6/1/20		100,000		114,298
Berkley (W.R.) 7.375% 9/15/19		100,000		120,393
Berkshire Hathaway
1.90% 1/31/17		300,000		305,918
2.10% 8/14/19		200,000		199,145
3.00% 2/11/23		100,000		99,538
3.40% 1/31/22		300,000		309,170
4.50% 2/11/43		250,000		254,867
Berkshire Hathaway Finance
1.30% 5/15/18		150,000		147,970
1.60% 5/15/17		150,000		151,739
2.45% 12/15/15		200,000		204,714
3.00% 5/15/22		100,000		99,945
4.25% 1/15/21		100,000		109,457
4.30% 5/15/43		100,000		99,358
4.40% 5/15/42		100,000		101,455
5.40% 5/15/18		50,000		56,157
5.75% 1/15/40		100,000		121,349
Chubb
5.75% 5/15/18		100,000		113,145
6.00% 5/11/37		100,000		126,630
Ÿ6.375% 3/29/67		100,000		110,125
Cincinnati Financial 6.92% 5/15/28		100,000		123,762
CNA Financial
3.95% 5/15/24		125,000		126,734
5.75% 8/15/21		30,000		34,267
7.35% 11/15/19		120,000		144,534
Delphi Financial Group 7.875% 1/31/20		25,000		29,960
Everest Reinsurance Holdings
4.868% 6/1/44		100,000		100,210


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Insurance (continued)
Fidelity National Financial 6.60% 5/15/17		100,000	$	111,318
Genworth Holdings
4.90% 8/15/23		214,000		220,937
6.515% 5/22/18		50,000		56,372
7.625% 9/24/21		100,000		121,492
7.70% 6/15/20		100,000		120,163
Hartford Financial Services Group
4.30% 4/15/43		43,000		41,297
5.125% 4/15/22		100,000		111,711
5.50% 3/30/20		100,000		113,042
5.95% 10/15/36		250,000		304,141
6.10% 10/1/41		50,000		62,620
6.625% 3/30/40		100,000		131,134
HCC Insurance Holdings
6.30% 11/15/19		50,000		57,973
ING US
2.90% 2/15/18		100,000		102,961
5.50% 7/15/22		100,000		112,916
5.70% 7/15/43		100,000		113,458
*Lincoln National 4.00% 9/1/23		500,000		514,434
Loews
4.125% 5/15/43		500,000		475,445
6.00% 2/1/35		100,000		119,774
Markel 7.125% 9/30/19		100,000		119,232
Marsh & McLennan
2.55% 10/15/18		100,000		101,787
3.50% 3/10/25		150,000		147,831
4.80% 7/15/21		100,000		110,277
9.25% 4/15/19		100,000		129,522
MetLife
4.368% 9/15/23		167,000		178,857
4.75% 2/8/21		200,000		221,268
4.875% 11/13/43		200,000		213,646
5.70% 6/15/35		50,000		60,073
5.875% 2/6/41		100,000		117,992
6.375% 6/15/34		100,000		128,483
6.40% 12/15/36		100,000		112,000
6.50% 12/15/32		100,000		129,366
6.75% 6/1/16		200,000		219,520
6.817% 8/15/18		400,000		469,498
7.717% 2/15/19		200,000		245,048
10.75% 8/1/39		150,000		243,000
Montpelier Re Holdings 4.70% 10/15/22		100,000		103,844
Old Republic International
4.875% 10/1/24		100,000		100,526
OneBeacon US Holdings 4.60% 11/9/22		100,000		102,492
PartnerRe Finance B 5.50% 6/1/20		100,000		112,530
Primerica 4.75% 7/15/22		100,000		108,569
Principal Financial Group
1.85% 11/15/17		250,000		250,271
8.875% 5/15/19		100,000		127,080


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Insurance (continued)
ProAssurance 5.30% 11/15/23		100,000	$	108,077
Progressive
3.75% 8/23/21		100,000		105,734
4.35% 4/25/44		250,000		252,949
Protective Life
7.375% 10/15/19		50,000		61,209
8.45% 10/15/39		25,000		37,579
Prudential Financial
2.30% 8/15/18		250,000		252,340
5.10% 8/15/43		250,000		264,912
Ÿ5.20% 3/15/44		100,000		101,063
5.50% 3/15/16		200,000		213,144
5.70% 12/14/36		50,000		57,678
Ÿ5.875% 9/15/42		250,000		266,250
5.90% 3/17/36		250,000		293,670
6.625% 12/1/37		400,000		505,015
6.625% 6/21/40		200,000		256,945
Reinsurance Group of America
4.70% 9/15/23		150,000		160,128
6.45% 11/15/19		90,000		105,437
Swiss Re Solutions Holding
7.00% 2/15/26		100,000		126,051
Symetra Financial 4.25% 7/15/24		50,000		50,346
Torchmark
6.375% 6/15/16		100,000		108,691
9.25% 6/15/19		25,000		32,125
TransAtlantic Holdings 8.00% 11/30/39		100,000		139,200
Travelers
3.90% 11/1/20		100,000		107,168
4.60% 8/1/43		250,000		263,200
5.80% 5/15/18		250,000		283,983
5.90% 6/2/19		100,000		116,057
6.25% 6/15/37		100,000		128,778
6.75% 6/20/36		100,000		136,123
Trinity Acquisition 6.125% 8/15/43		100,000		111,020
Unum Group 7.125% 9/30/16		200,000		223,494
Willis Group Holdings 4.125% 3/15/16		150,000		155,856
XL Group 5.75% 10/1/21		100,000		116,018
XLIT
2.30% 12/15/18		100,000		100,011
5.25% 12/15/43		200,000		221,647

				22,698,225

Internet & Catalog Retail–0.05%
Amazon.com 1.20% 11/29/17		800,000		792,167
Expedia
4.50% 8/15/24		200,000		198,611
5.95% 8/15/20		100,000		112,741

				1,103,519


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Internet Software & Services–0.07%
Baidu
3.25% 8/6/18		200,000	$	206,289
3.50% 11/28/22		200,000		195,187
eBay
1.625% 10/15/15		100,000		101,188
2.60% 7/15/22		250,000		236,207
2.875% 8/1/21		350,000		343,127
3.25% 10/15/20		100,000		102,508
Google
2.125% 5/19/16		200,000		204,907
3.375% 2/25/24		200,000		204,567
3.625% 5/19/21		100,000		106,445

				1,700,425

IT Services–0.21%
Broadridge Financial Solutions
3.95% 9/1/20		100,000		104,191
Computer Sciences 6.50% 3/15/18		150,000		161,250
Fidelity National Information Services
2.00% 4/15/18		43,000		42,771
3.50% 4/15/23		311,000		307,091
3.875% 6/5/24		100,000		100,093
Fiserv
3.125% 6/15/16		100,000		103,387
3.50% 10/1/22		150,000		150,786
4.625% 10/1/20		100,000		108,126
HP Enterprise Services 7.45% 10/15/29.		25,000		31,017
International Business Machines
0.45% 5/6/16		150,000		149,631
1.25% 2/6/17		350,000		351,381
1.25% 2/8/18		250,000		247,903
1.625% 5/15/20		150,000		143,864
1.875% 8/1/22		100,000		91,985
1.95% 7/22/16		300,000		306,337
1.95% 2/12/19		200,000		199,725
2.00% 1/5/16		100,000		101,777
2.90% 11/1/21		150,000		151,699
4.00% 6/20/42		200,000		192,235
5.60% 11/30/39		210,000		252,466
5.70% 9/14/17		300,000		336,386
5.875% 11/29/32		120,000		149,207
7.625% 10/15/18		300,000		364,387
SAIC
4.45% 12/1/20		100,000		102,022
5.95% 12/1/40		100,000		100,465
Total System Services 3.75% 6/1/23		125,000		122,658
Western Union
2.875% 12/10/17		150,000		154,551
3.65% 8/22/18		100,000		104,250
5.253% 4/1/20		107,000		117,069

				4,848,710


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Leisure Equipment & Products–0.02%
Hasbro
3.15% 5/15/21		75,000	$	75,117
5.10% 5/15/44		65,000		67,733
6.35% 3/15/40		65,000		77,987
Mattel
2.35% 5/6/19		200,000		199,152
6.20% 10/1/40		100,000		118,841

				538,830

Life Sciences Tools & Services–0.07%
Agilent Technologies
3.875% 7/15/23		150,000		150,462
5.00% 7/15/20		100,000		108,900
Life Technologies 6.00% 3/1/20		150,000		173,348
Thermo Fisher Scientific
3.20% 3/1/16		140,000		144,572
3.60% 8/15/21		100,000		103,140
4.15% 2/1/24		500,000		518,680
4.50% 3/1/21		240,000		261,832
4.70% 5/1/20		100,000		107,940

				1,568,874

Machinery–0.28%
Caterpillar
1.50% 6/26/17		100,000		100,685
2.60% 6/26/22		50,000		48,923
3.803% 8/15/42		168,000		156,469
3.90% 5/27/21		150,000		160,765
4.75% 5/15/64		50,000		52,165
5.70% 8/15/16		125,000		136,512
6.05% 8/15/36		200,000		252,278
7.90% 12/15/18		100,000		122,907
Caterpillar Financial Services
1.00% 11/25/16		500,000		501,161
Cooper US 6.10% 7/1/17		100,000		111,221
Crane 4.45% 12/15/23		100,000		105,025
Cummins
3.65% 10/1/23		139,000		144,573
4.875% 10/1/43		64,000		71,491
Deere
2.60% 6/8/22		100,000		97,253
3.90% 6/9/42		150,000		143,162
4.375% 10/16/19		350,000		385,522
5.375% 10/16/29		100,000		118,510
Dover
4.30% 3/1/21		100,000		109,465
4.875% 10/15/15		50,000		52,309
5.375% 3/1/41		100,000		119,283
6.60% 3/15/38		25,000		33,761
Eaton
0.95% 11/2/15		150,000		150,516


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Machinery (continued)
Eaton (continued)
1.50% 11/2/17		200,000	$	199,288
2.75% 11/2/22		250,000		241,473
4.15% 11/2/42		150,000		143,537
6.95% 3/20/19		50,000		58,438
Flowserve 4.00% 11/15/23		64,000		65,039
Illinois Tool Works
1.95% 3/1/19		300,000		298,464
3.375% 9/15/21		60,000		62,410
3.90% 9/1/42		150,000		143,414
4.875% 9/15/41		100,000		110,051
6.25% 4/1/19		100,000		116,893
Ingersoll-Rand Global Holding
4.25% 6/15/23		250,000		262,649
5.75% 6/15/43		100,000		118,589
6.875% 8/15/18		250,000		293,047
Joy Global 5.125% 10/15/21		80,000		87,299
Kennametal 2.65% 11/1/19		150,000		150,371
Parker Hannifin 6.25% 5/15/38		50,000		65,265
Pentair Finance 5.00% 5/15/21		200,000		220,337
Snap-on 6.125% 9/1/21		50,000		58,306
Stanley Black & Decker
2.90% 11/1/22		150,000		146,788
5.20% 9/1/40		100,000		113,143
Ÿ5.75% 12/15/53		100,000		108,750
#Timken 144A 3.875% 9/1/24		70,000		69,045
Valmont Industries 5.25% 10/1/54		150,000		147,065
Wabtec 4.375% 8/15/23		100,000		104,320
Xylem 3.55% 9/20/16		100,000		104,733

				6,662,670

Media–1.08%
#21st Century Fox America 144A 4.75% 9/15/44		60,000		60,482
CBS
2.30% 8/15/19		200,000		197,516
3.375% 3/1/22		100,000		100,299
4.85% 7/1/42		150,000		148,092
4.90% 8/15/44		125,000		124,041
7.875% 7/30/30		200,000		271,695
CC Holdings GS V
2.381% 12/15/17		100,000		101,240
3.849% 4/15/23		150,000		147,811
Comcast
3.125% 7/15/22		100,000		100,771
3.375% 2/15/25		125,000		123,564
4.20% 8/15/34		83,000		82,562
4.25% 1/15/33		200,000		203,070
4.65% 7/15/42		24,000		24,880
4.75% 3/1/44		350,000		370,736
5.15% 3/1/20		300,000		340,436


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Media (continued)
Comcast (continued)
5.70% 5/15/18		200,000	$	227,308
5.70% 7/1/19		200,000		231,316
5.90% 3/15/16		150,000		161,226
6.40% 5/15/38		250,000		319,963
6.45% 3/15/37		200,000		256,445
6.50% 1/15/17		200,000		224,095
6.50% 11/15/35		200,000		261,003
6.95% 8/15/37		250,000		336,055
7.05% 3/15/33		500,000		672,411
DIRECTV Holdings
1.75% 1/15/18		75,000		74,697
3.125% 2/15/16		100,000		102,935
3.50% 3/1/16		200,000		207,051
3.80% 3/15/22		200,000		203,602
4.45% 4/1/24		300,000		313,041
4.60% 2/15/21		300,000		326,482
5.00% 3/1/21		200,000		221,778
5.15% 3/15/42		150,000		152,229
5.20% 3/15/20		65,000		72,883
5.875% 10/1/19		40,000		45,891
6.00% 8/15/40		200,000		225,401
6.35% 3/15/40		50,000		58,461
Discovery Communications
3.30% 5/15/22		150,000		149,169
4.375% 6/15/21		100,000		107,514
4.875% 4/1/43		100,000		99,327
5.05% 6/1/20		200,000		222,062
5.625% 8/15/19		200,000		229,501
6.35% 6/1/40		150,000		180,832
Disney (Walt)
0.875% 5/30/17		150,000		148,811
1.125% 2/15/17		250,000		250,327
1.35% 8/16/16		200,000		202,412
2.35% 12/1/22		300,000		288,445
3.70% 12/1/42		150,000		140,762
3.75% 6/1/21		200,000		213,817
4.125% 12/1/41		100,000		100,908
4.125% 6/1/44		83,000		83,220
6.00% 7/17/17		150,000		170,017
Grupo Televisa
6.625% 1/15/40		100,000		121,359
8.50% 3/11/32		200,000		274,942
Historic TW
6.625% 5/15/29		300,000		373,500
6.875% 6/15/18		400,000		467,591
Interpublic Group
2.25% 11/15/17		150,000		150,702
4.00% 3/15/22		70,000		71,206
McGraw-Hill Financial 6.55% 11/15/37		100,000		104,271
NBCUniversal Media
2.875% 1/15/23		575,000		565,069


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Media (continued)
NBCUniversal Media (continued)
4.375% 4/1/21		200,000	$	218,180
4.45% 1/15/43		675,000		679,391
5.15% 4/30/20		270,000		306,928
5.95% 4/1/41		200,000		245,008
News America
3.00% 9/15/22		350,000		340,606
4.50% 2/15/21		150,000		163,194
5.65% 8/15/20		300,000		343,674
6.15% 3/1/37		30,000		35,803
6.15% 2/15/41		450,000		535,801
6.40% 12/15/35		300,000		373,112
6.65% 11/15/37		175,000		220,072
6.90% 8/15/39		100,000		128,919
News America Holdings 8.15% 10/17/36		100,000		141,285
Omnicom Group
3.625% 5/1/22		200,000		203,277
4.45% 8/15/20		35,000		37,646
6.25% 7/15/19		250,000		291,849
Reed Elsevier Capital 8.625% 1/15/19		100,000		124,760
Thomson Reuters
0.875% 5/23/16		100,000		99,877
1.30% 2/23/17		107,000		106,877
4.30% 11/23/23		200,000		209,182
4.70% 10/15/19		100,000		109,447
6.50% 7/15/18		150,000		173,091
Time Warner
3.55% 6/1/24		200,000		197,530
4.70% 1/15/21		100,000		109,589
4.75% 3/29/21		150,000		163,684
4.875% 3/15/20		200,000		220,936
4.90% 6/15/42		200,000		200,615
5.875% 11/15/16		150,000		164,668
6.10% 7/15/40		100,000		116,329
6.25% 3/29/41		300,000		355,013
6.50% 11/15/36		100,000		120,700
7.625% 4/15/31		325,000		439,821
7.70% 5/1/32		330,000		455,377
Time Warner Cable
4.00% 9/1/21		500,000		526,903
5.00% 2/1/20		145,000		161,321
5.50% 9/1/41		100,000		112,983
5.85% 5/1/17		500,000		554,535
5.875% 11/15/40		100,000		118,083
6.55% 5/1/37		200,000		253,119
6.75% 7/1/18		300,000		349,111
6.75% 6/15/39		200,000		257,810
7.30% 7/1/38		150,000		204,649
8.25% 4/1/19		250,000		311,670
8.75% 2/14/19		200,000		251,999
Time Warner Entertainment
8.375% 3/15/23		250,000		333,223


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Media (continued)
Time Warner Entertainment (continued)
8.375% 7/15/33		200,000	$	296,248
Viacom
2.50% 9/1/18		120,000		121,621
3.125% 6/15/22		50,000		49,131
3.25% 3/15/23		250,000		244,871
3.50% 4/1/17		100,000		104,982
3.875% 4/1/24		200,000		199,562
4.375% 3/15/43		477,000		440,897
5.625% 9/15/19		200,000		227,825
5.85% 9/1/43		150,000		167,282
6.875% 4/30/36		125,000		157,081
WPP Finance 2010
4.75% 11/21/21		100,000		109,260
5.625% 11/15/43		250,000		272,629

				25,266,268

Metals & Mining–0.59%
Allegheny Technologies
5.875% 8/15/23		100,000		105,471
5.95% 1/15/21		50,000		53,975
9.375% 6/1/19		100,000		122,192
Barrick Gold
3.85% 4/1/22		250,000		240,879
4.10% 5/1/23		200,000		192,522
5.25% 4/1/42		300,000		276,333
6.95% 4/1/19		100,000		116,251
Barrick North America Finance
4.40% 5/30/21		200,000		202,841
5.70% 5/30/41		100,000		96,940
5.75% 5/1/43		150,000		148,969
7.50% 9/15/38		25,000		29,735
Barrick PD Australia Finance 5.95% 10/15/39		100,000		100,920
BHP Billiton Finance USA
1.625% 2/24/17		350,000		353,754
1.875% 11/21/16		250,000		255,223
3.25% 11/21/21		250,000		255,551
3.85% 9/30/23		200,000		208,296
4.125% 2/24/42		125,000		120,148
5.00% 9/30/43		500,000		550,694
5.25% 12/15/15		100,000		105,613
5.40% 3/29/17		100,000		110,064
6.50% 4/1/19		150,000		177,426
Freeport-McMoRan Copper & Gold
2.15% 3/1/17		100,000		101,763
2.375% 3/15/18		400,000		401,346
3.10% 3/15/20		775,000		769,883
3.55% 3/1/22		300,000		293,427
3.875% 3/15/23		225,000		222,316
5.45% 3/15/43		225,000		230,244


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Metals & Mining (continued)
Goldcorp
2.125% 3/15/18		100,000	$	99,817
3.70% 3/15/23		200,000		196,395
#Kinross Gold 144A 5.95% 3/15/24		139,000		141,636
Newmont Mining
3.50% 3/15/22		150,000		139,215
4.875% 3/15/42		150,000		126,904
5.125% 10/1/19		180,000		195,678
6.25% 10/1/39		100,000		98,889
Nucor
4.00% 8/1/23		139,000		142,629
4.125% 9/15/22		100,000		105,491
5.20% 8/1/43		100,000		105,366
5.75% 12/1/17		50,000		56,076
5.85% 6/1/18		100,000		113,431
Reliance Steel & Aluminum 4.50% 4/15/23		150,000		154,471
Rio Tinto Alcan 6.125% 12/15/33		150,000		180,473
Rio Tinto Finance USA
1.375% 6/17/16		300,000		301,908
1.625% 8/21/17		250,000		251,521
1.875% 11/2/15		200,000		202,726
2.25% 12/14/18		150,000		150,760
2.50% 5/20/16		100,000		102,637
2.875% 8/21/22		250,000		241,443
3.50% 11/2/20		250,000		259,341
3.75% 9/20/21		150,000		155,846
4.125% 5/20/21		200,000		214,267
4.125% 8/21/42		150,000		139,774
5.20% 11/2/40		100,000		107,323
6.50% 7/15/18		250,000		289,668
7.125% 7/15/28		75,000		96,284
9.00% 5/1/19		100,000		128,183
Southern Copper
3.50% 11/8/22		89,000		86,199
5.25% 11/8/42		150,000		142,479
5.375% 4/16/20		125,000		137,509
6.75% 4/16/40		110,000		123,385
7.50% 7/27/35		200,000		240,454
Teck Resources
2.50% 2/1/18		250,000		250,529
4.50% 1/15/21		100,000		104,086
4.75% 1/15/22		104,000		107,072
5.20% 3/1/42		250,000		229,227
6.00% 8/15/40		100,000		100,923
6.25% 7/15/41		201,000		204,953
Vale 5.625% 9/11/42		150,000		147,513
Vale Overseas
4.375% 1/11/22		250,000		253,083
4.625% 9/15/20		100,000		105,441
5.625% 9/15/19		300,000		336,502


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Metals & Mining (continued)
Vale Overseas (continued)
6.25% 1/11/16		100,000	$	106,423
6.25% 1/23/17		250,000		275,719
6.875% 11/21/36		350,000		396,375
6.875% 11/10/39		170,000		193,856
#Yamana Gold 144A 4.95% 7/15/24		50,000		49,869

				13,932,525

Multiline Retail–0.17%
Dollar General 3.25% 4/15/23		200,000		178,984
Family Dollar Stores 5.00% 2/1/21		100,000		103,933
Kohl’s
4.00% 11/1/21		200,000		208,215
4.75% 12/15/23		150,000		159,404
6.00% 1/15/33		100,000		109,804
6.25% 12/15/17		50,000		56,743
Macy’s Retail Holdings
2.875% 2/15/23		100,000		95,619
3.625% 6/1/24		150,000		148,692
4.375% 9/1/23		90,000		95,132
5.125% 1/15/42		100,000		104,721
5.90% 12/1/16		107,000		117,707
6.70% 7/15/34		150,000		190,788
6.90% 4/1/29		150,000		190,008
Nordstrom
4.75% 5/1/20		100,000		110,324
5.00% 1/15/44		281,000		305,486
Target
2.30% 6/26/19		200,000		200,517
2.90% 1/15/22		300,000		297,406
3.875% 7/15/20		100,000		107,184
4.00% 7/1/42		150,000		139,768
5.875% 7/15/16		100,000		109,113
6.00% 1/15/18		250,000		284,709
6.35% 11/1/32		100,000		127,447
6.50% 10/15/37		200,000		258,385
7.00% 1/15/38		200,000		268,166

				3,968,255

Multi-Utilities–0.26%
American Water Capital
3.85% 3/1/24		250,000		260,338
4.30% 12/1/42		100,000		99,685
6.085% 10/15/17		100,000		112,293
Avista
5.125% 4/1/22		30,000		34,245
5.95% 6/1/18		100,000		113,708
Consolidated Edison New York
3.95% 3/1/43		150,000		142,514
4.45% 3/15/44		200,000		204,165
5.375% 12/15/15		100,000		105,831


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Multi-Utilities (continued)
Consolidated Edison New York (continued)
5.50% 12/1/39		250,000	$	296,147
5.85% 3/15/36		100,000		122,223
6.30% 8/15/37		20,000		25,684
6.65% 4/1/19		200,000		238,069
6.75% 4/1/38		25,000		33,643
7.125% 12/1/18		200,000		238,973
Dominion Resources
2.75% 9/15/22		250,000		242,622
4.45% 3/15/21		100,000		108,519
4.90% 8/1/41		60,000		63,916
5.20% 8/15/19		80,000		90,522
5.95% 6/15/35		25,000		30,346
6.40% 6/15/18		76,000		87,505
8.875% 1/15/19		100,000		125,953
DTE Electric
3.50% 6/1/24		100,000		100,545
3.65% 3/15/24		250,000		259,051
6.35% 6/1/16		50,000		54,301
KeySpan 8.00% 11/15/30		25,000		34,695
National Grid 6.30% 8/1/16		50,000		54,813
NiSource Finance
3.85% 2/15/23		50,000		51,360
4.80% 2/15/44		100,000		102,137
5.25% 2/15/43		59,000		63,824
5.45% 9/15/20		125,000		140,949
5.80% 2/1/42		100,000		116,174
6.125% 3/1/22		100,000		117,267
6.40% 3/15/18		300,000		342,679
Puget Energy 6.00% 9/1/21		200,000		232,900
Puget Sound Energy
4.434% 11/15/41		100,000		106,534
5.638% 4/15/41		80,000		98,605
5.764% 7/15/40		50,000		62,614
5.795% 3/15/40		100,000		124,985
San Diego Gas & Electric
3.00% 8/15/21		175,000		179,166
3.60% 9/1/23		200,000		209,115
6.00% 6/1/39		110,000		141,642
SCANA 6.25% 4/1/20		100,000		115,280
Sempra Energy
2.875% 10/1/22		150,000		146,556
6.00% 10/15/39		125,000		155,842
6.15% 6/15/18		25,000		28,583
6.50% 6/1/16		230,000		251,058
United Utilities 5.375% 2/1/19		100,000		109,807

				6,177,383

Office Electronics–0.05%
Pitney Bowes 4.625% 3/15/24		200,000		203,109
Xerox
2.80% 5/15/20		250,000		246,830


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Office Electronics (continued)
Xerox (continued)
4.50% 5/15/21		345,000	$	369,464
6.35% 5/15/18		250,000		285,892
6.40% 3/15/16		100,000		107,791

				1,213,086

Oil, Gas & Consumable Fuels–2.56%
Anadarko Finance 7.50% 5/1/31		250,000		339,473
Anadarko Petroleum
5.95% 9/15/16		200,000		218,263
6.375% 9/15/17		300,000		340,288
6.45% 9/15/36		250,000		305,622
7.95% 6/15/39		200,000		284,260
8.70% 3/15/19		200,000		251,786
Apache
1.75% 4/15/17		50,000		50,398
3.25% 4/15/22		73,000		73,271
4.25% 1/15/44		100,000		93,039
4.75% 4/15/43		200,000		200,646
5.10% 9/1/40		350,000		371,968
5.25% 2/1/42		100,000		107,294
5.625% 1/15/17		200,000		219,020
6.00% 1/15/37		50,000		59,152
Boardwalk Pipelines
3.375% 2/1/23		100,000		93,227
5.75% 9/15/19		100,000		109,236
Buckeye Partners
4.875% 2/1/21		260,000		278,100
5.50% 8/15/19		50,000		55,558
Burlington Resources Finance 7.20% 8/15/31		100,000		138,007
Canadian Natural Resources
3.80% 4/15/24		43,000		43,626
5.70% 5/15/17		250,000		276,575
5.85% 2/1/35		200,000		234,843
5.90% 2/1/18		100,000		112,792
6.25% 3/15/38		150,000		183,820
Cenovus Energy
3.80% 9/15/23		250,000		255,856
4.45% 9/15/42		100,000		97,973
5.70% 10/15/19		100,000		114,776
6.75% 11/15/39		200,000		255,196
Chevron
1.104% 12/5/17		300,000		297,356
1.718% 6/24/18		500,000		500,615
2.355% 12/5/22		500,000		477,023
3.191% 6/24/23		250,000		252,189
4.95% 3/3/19		100,000		111,857
CNOOC Finance 2013
3.00% 5/9/23		250,000		232,738
4.25% 5/9/43		1,000,000		941,691


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
ConocoPhillips
1.05% 12/15/17		250,000	$	246,738
2.40% 12/15/22		450,000		431,356
5.75% 2/1/19		425,000		485,379
5.90% 5/15/38		150,000		186,938
6.00% 1/15/20		200,000		235,571
6.50% 2/1/39		380,000		499,166
ConocoPhillips Canada Funding I
5.625% 10/15/16		100,000		109,863
ConocoPhillips Holding 6.95% 4/15/29		200,000		267,641
Continental Resources
3.80% 6/1/24		135,000		132,499
4.50% 4/15/23		400,000		415,058
4.90% 6/1/44		100,000		97,862
DCP Midstream Operating
2.70% 4/1/19		135,000		135,473
4.95% 4/1/22		100,000		108,985
5.60% 4/1/44		150,000		165,559
Devon Energy
1.875% 5/15/17		100,000		100,981
3.25% 5/15/22		250,000		248,612
4.00% 7/15/21		100,000		105,754
4.75% 5/15/42		100,000		99,855
5.60% 7/15/41		300,000		335,644
6.30% 1/15/19		100,000		115,768
7.95% 4/15/32		100,000		141,770
Devon Financing 7.875% 9/30/31		200,000		280,195
Ecopetrol
4.125% 1/16/25		500,000		485,000
5.875% 9/18/23		200,000		221,250
5.875% 5/28/45		155,000		157,713
7.625% 7/23/19		200,000		238,440
El Paso Natural Gas
5.95% 4/15/17		100,000		110,657
8.375% 6/15/32		100,000		132,695
El Paso Pipeline Partners Operating 5.00% 10/1/21		250,000		270,228
Enable Midstream Partners
#144A 3.90% 5/15/24		200,000		199,315
#144A 5.00% 5/15/44		70,000		70,547
Enbridge
3.50% 6/10/24		100,000		98,598
4.00% 10/1/23		150,000		155,594
4.50% 6/10/44		100,000		97,762
5.60% 4/1/17		100,000		109,979
Enbridge Energy Partners
5.20% 3/15/20		100,000		111,341
6.50% 4/15/18		50,000		57,265
7.50% 4/15/38		300,000		399,057
9.875% 3/1/19		50,000		64,840
EnCana
5.90% 12/1/17		50,000		56,158


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
EnCana (continued)
6.50% 5/15/19		300,000	$	351,678
6.50% 2/1/38		100,000		123,385
6.625% 8/15/37		250,000		313,747
7.20% 11/1/31		50,000		64,708
Energy Transfer Partners
3.60% 2/1/23		100,000		97,513
4.15% 10/1/20		150,000		155,964
5.20% 2/1/22		250,000		268,447
5.95% 10/1/43		125,000		134,480
6.50% 2/1/42		150,000		171,378
7.50% 7/1/38		200,000		255,514
7.60% 2/1/24		150,000		184,114
EnLink Midstream Partners
4.40% 4/1/24		150,000		155,983
5.60% 4/1/44		100,000		109,800
Enterprise Products Operating
3.20% 2/1/16		100,000		103,260
3.35% 3/15/23		350,000		345,105
3.90% 2/15/24		200,000		203,338
4.05% 2/15/22		100,000		105,753
4.45% 2/15/43		125,000		121,093
4.85% 8/15/42		200,000		206,173
4.85% 3/15/44		125,000		127,465
5.20% 9/1/20		100,000		112,433
5.25% 1/31/20		100,000		112,959
5.70% 2/15/42		150,000		170,956
5.75% 3/1/35		250,000		290,363
5.95% 2/1/41		100,000		119,457
6.125% 10/15/39		50,000		60,511
6.30% 9/15/17		100,000		113,493
6.50% 1/31/19		100,000		117,263
7.55% 4/15/38		100,000		137,133
EOG Resources
2.50% 2/1/16		250,000		256,014
2.625% 3/15/23		150,000		143,412
4.40% 6/1/20		150,000		163,702
6.875% 10/1/18		25,000		29,593
EQT
4.875% 11/15/21		100,000		109,431
8.125% 6/1/19		75,000		91,955
EQT Midstream Partners 4.00% 8/1/24		55,000		54,325
Exxon Mobil 1.819% 3/15/19		500,000		500,364
Hess
5.60% 2/15/41		200,000		226,077
7.125% 3/15/33		100,000		133,891
7.30% 8/15/31		250,000		334,441
8.125% 2/15/19		285,000		351,662
Husky Energy
3.95% 4/15/22		150,000		155,716
4.00% 4/15/24		50,000		51,386
7.25% 12/15/19		125,000		152,394


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Kerr-McGee 6.95% 7/1/24		100,000	$	126,072
Kinder Morgan Energy Partners
2.65% 2/1/19		300,000		299,411
3.50% 3/1/21		120,000		120,575
3.50% 9/1/23		100,000		95,141
3.95% 9/1/22		100,000		99,441
5.00% 3/1/43		250,000		231,985
5.30% 9/15/20		250,000		275,444
5.80% 3/15/35		150,000		158,150
5.95% 2/15/18		50,000		55,966
6.50% 9/1/39		100,000		111,872
6.55% 9/15/40		200,000		230,998
7.75% 3/15/32		200,000		251,652
Magellan Midstream Partners
4.25% 2/1/21		150,000		162,502
6.55% 7/15/19		50,000		58,810
Marathon Oil
0.90% 11/1/15		150,000		150,100
2.80% 11/1/22		125,000		119,844
5.90% 3/15/18		200,000		226,312
6.60% 10/1/37		100,000		126,383
Marathon Petroleum
3.50% 3/1/16		255,000		263,888
3.625% 9/15/24		250,000		245,221
5.125% 3/1/21		135,000		150,591
6.50% 3/1/41		145,000		172,979
Murphy Oil 2.50% 12/1/17		500,000		508,249
Nexen
6.20% 7/30/19		130,000		151,005
6.40% 5/15/37		150,000		183,381
7.50% 7/30/39		200,000		276,760
Noble Energy
4.15% 12/15/21		100,000		106,176
5.25% 11/15/43		250,000		264,721
6.00% 3/1/41		135,000		156,216
8.25% 3/1/19		100,000		123,763
Noble Holding International
2.50% 3/15/17		100,000		101,866
3.95% 3/15/22		100,000		97,552
6.20% 8/1/40		125,000		129,435
Northwest Pipeline 6.05% 6/15/18		300,000		339,870
Occidental Petroleum
1.50% 2/15/18		100,000		99,264
1.75% 2/15/17		250,000		253,322
2.50% 2/1/16		200,000		204,487
2.70% 2/15/23		200,000		192,310
3.125% 2/15/22		150,000		151,263
4.10% 2/1/21		100,000		108,043
4.125% 6/1/16		150,000		158,225
ONEOK Partners
3.20% 9/15/18		100,000		103,739


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
ONEOK Partners (continued)
3.375% 10/1/22		150,000	$	146,523
6.125% 2/1/41		100,000		114,131
6.15% 10/1/16		50,000		54,869
6.20% 9/15/43		178,000		206,280
6.65% 10/1/36		100,000		119,471
8.625% 3/1/19		100,000		124,608
Pemex Project Funding Master Trust 6.625% 6/15/35		250,000		291,375
Petrobras Global Finance
2.00% 5/20/16		200,000		200,490
3.00% 1/15/19		500,000		488,255
3.25% 3/17/17		700,000		710,129
4.375% 5/20/23		350,000		328,835
5.625% 5/20/43		225,000		200,422
Petrobras International Finance
3.50% 2/6/17		600,000		611,928
3.875% 1/27/16		500,000		513,000
5.375% 1/27/21		700,000		711,074
5.75% 1/20/20		200,000		210,942
5.875% 3/1/18		200,000		216,400
6.875% 1/20/40		450,000		469,278
7.875% 3/15/19		400,000		460,632
Petro-Canada
5.95% 5/15/35		200,000		239,012
6.80% 5/15/38		100,000		131,844
9.25% 10/15/21		50,000		68,037
Petroleos Mexicanos
#144A 3.125% 1/23/19		80,000		82,200
3.50% 7/18/18		200,000		207,900
3.50% 1/30/23		800,000		768,400
4.875% 1/24/22		250,000		266,250
4.875% 1/18/24		500,000		525,750
5.50% 1/21/21		400,000		442,200
6.00% 3/5/20		260,000		297,050
#144A 6.375% 1/23/45		109,000		123,530
6.50% 6/2/41		800,000		929,360
8.00% 5/3/19		550,000		670,725
Phillips 66
2.95% 5/1/17		450,000		467,843
5.875% 5/1/42		250,000		297,347
Pioneer Natural Resources
3.95% 7/15/22		100,000		101,545
Plains All American Pipeline
4.30% 1/31/43		100,000		94,980
4.70% 6/15/44		200,000		198,891
5.15% 6/1/42		200,000		214,061
5.75% 1/15/20		100,000		114,997
6.65% 1/15/37		125,000		156,639
8.75% 5/1/19		150,000		190,132
Plains Exploration & Production 6.875% 2/15/23		196,000		222,950


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Shell International Finance
0.625% 12/4/15		250,000	$	250,213
0.90% 11/15/16		200,000		200,333
1.125% 8/21/17		500,000		497,829
2.00% 11/15/18		300,000		302,646
2.375% 8/21/22		250,000		241,273
3.40% 8/12/23		650,000		661,814
4.30% 9/22/19		200,000		219,837
4.375% 3/25/20		75,000		82,820
4.55% 8/12/43		100,000		106,179
5.50% 3/25/40		100,000		120,942
6.375% 12/15/38		300,000		394,716
Southwestern Energy 4.10% 3/15/22		200,000		205,522
Spectra Energy Capital
2.95% 6/15/16		100,000		103,231
2.95% 9/25/18		350,000		361,121
5.65% 3/1/20		100,000		111,849
7.50% 9/15/38		350,000		449,276
Statoil
1.15% 5/15/18		250,000		244,998
2.45% 1/17/23		200,000		191,225
2.65% 1/15/24		100,000		95,900
3.15% 1/23/22		200,000		203,757
3.70% 3/1/24		600,000		623,072
3.95% 5/15/43		250,000		239,271
4.80% 11/8/43		150,000		163,189
5.10% 8/17/40		200,000		224,850
5.25% 4/15/19		250,000		281,905
7.15% 1/15/29		25,000		34,055
Suncor Energy
6.10% 6/1/18		150,000		171,586
6.50% 6/15/38		250,000		319,412
6.85% 6/1/39		100,000		132,805
7.15% 2/1/32		25,000		34,279
Sunoco Logistics Partners Operations
3.45% 1/15/23		200,000		194,325
5.30% 4/1/44		200,000		204,821
6.85% 2/15/40		100,000		121,812
Talisman Energy
3.75% 2/1/21		250,000		253,046
7.75% 6/1/19		125,000		151,776
Tennessee Gas Pipeline
7.50% 4/1/17		400,000		457,619
7.625% 4/1/37		150,000		193,816
Tosco 8.125% 2/15/30		100,000		146,505
Total Capital
2.30% 3/15/16		100,000		102,513
3.125% 10/2/15		100,000		102,667
4.125% 1/28/21		100,000		108,632
4.45% 6/24/20		100,000		110,305
Total Capital Canada
1.45% 1/15/18		200,000		198,897


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Oil, Gas & Consumable Fuels (continued)
Total Capital Canada (continued)
2.75% 7/15/23		300,000	$	291,009
Total Capital International
1.00% 8/12/16		200,000		200,994
1.00% 1/10/17		500,000		498,343
1.55% 6/28/17		150,000		151,170
2.10% 6/19/19		300,000		299,464
2.70% 1/25/23		200,000		194,133
2.875% 2/17/22		200,000		199,366
3.70% 1/15/24		100,000		102,747
TransCanada PipeLines
0.75% 1/15/16		200,000		199,954
2.50% 8/1/22		150,000		142,448
3.75% 10/16/23		150,000		152,616
3.80% 10/1/20		100,000		105,503
4.625% 3/1/34		200,000		205,848
6.10% 6/1/40		100,000		120,243
Ÿ6.35% 5/15/67		150,000		155,250
6.50% 8/15/18		200,000		231,994
7.25% 8/15/38		100,000		135,826
7.625% 1/15/39		250,000		352,932
Transcontinental Gas Pipe Line 4.45% 8/1/42		100,000		97,207
Valero Energy
6.125% 2/1/20		65,000		75,467
6.625% 6/15/37		300,000		359,293
7.50% 4/15/32		100,000		128,562
9.375% 3/15/19		200,000		257,432
Western Gas Partners
4.00% 7/1/22		150,000		153,693
5.45% 4/1/44		100,000		110,528
Williams
3.70% 1/15/23		139,000		131,533
4.55% 6/24/24		250,000		247,799
5.75% 6/24/44		100,000		98,600
8.75% 3/15/32		109,000		138,662
Williams Partners
3.90% 1/15/25		125,000		124,334
4.00% 11/15/21		100,000		103,615
4.30% 3/4/24		195,000		199,275
5.25% 3/15/20		200,000		222,352
6.30% 4/15/40		170,000		200,185
XTO Energy 6.50% 12/15/18		100,000		118,485

				60,105,239

Paper & Forest Products–0.10%
Celulosa Arauco y Constitucion
#144A 4.50% 8/1/24		200,000		195,695
5.00% 1/21/21		100,000		103,343
Domtar
4.40% 4/1/22		100,000		101,976
6.75% 2/15/44		100,000		109,357


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Paper & Forest Products (continued)
Georgia-Pacific 8.00% 1/15/24		250,000	$	335,363
International Paper
4.75% 2/15/22		200,000		215,854
4.80% 6/15/44		200,000		194,458
6.00% 11/15/41		135,000		154,104
7.30% 11/15/39		100,000		129,099
7.50% 8/15/21		80,000		99,473
7.95% 6/15/18		300,000		358,445
9.375% 5/15/19		100,000		130,338
Plum Creek Timberlands 4.70% 3/15/21		100,000		108,782
Westvaco 8.20% 1/15/30		150,000		197,235

				2,433,522

Personal Products–0.05%
Avon Products
5.00% 3/15/23		100,000		98,023
6.50% 3/1/19		100,000		107,718
Colgate-Palmolive
0.90% 5/1/18		100,000		97,789
1.30% 1/15/17		200,000		201,356
1.50% 11/1/18		250,000		247,579
1.75% 3/15/19		344,000		341,269
2.30% 5/3/22		100,000		96,685

				1,190,419

Pharmaceuticals–0.86%
Abbott Laboratories
5.125% 4/1/19		478,000		536,645
5.30% 5/27/40		250,000		296,027
6.00% 4/1/39		50,000		63,965
6.15% 11/30/37		50,000		64,881
AbbVie
1.20% 11/6/15		400,000		401,614
1.75% 11/6/17		750,000		748,003
2.90% 11/6/22		500,000		478,913
4.40% 11/6/42		300,000		282,945
Actavis Funding SCS
#144A 2.45% 6/15/19		210,000		204,408
#144A 4.85% 6/15/44		650,000		612,998
Allergan
1.35% 3/15/18		50,000		48,566
5.75% 4/1/16		100,000		106,715
AstraZeneca
4.00% 9/18/42		150,000		141,340
5.90% 9/15/17		350,000		394,287
6.45% 9/15/37		450,000		585,599
Bristol-Myers Squibb
1.75% 3/1/19		200,000		197,589
2.00% 8/1/22		100,000		92,983
3.25% 8/1/42		100,000		84,068
5.875% 11/15/36		195,000		242,418
6.125% 5/1/38		103,000		131,232


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Pharmaceuticals (continued)
GlaxoSmithKline Capital
0.70% 3/18/16		200,000	$	200,202
2.85% 5/8/22		750,000		736,494
5.375% 4/15/34		100,000		117,331
5.65% 5/15/18		450,000		509,834
6.375% 5/15/38		450,000		581,334
Johnson & Johnson
1.65% 12/5/18		300,000		300,116
2.15% 5/15/16		400,000		410,268
2.95% 9/1/20		100,000		103,985
3.55% 5/15/21		100,000		107,612
4.375% 12/5/33		83,000		90,865
4.85% 5/15/41		100,000		115,475
5.15% 7/15/18		250,000		281,635
5.85% 7/15/38		100,000		130,333
Lilly (Eli)
1.95% 3/15/19		250,000		249,227
5.20% 3/15/17		140,000		153,698
5.50% 3/15/27		100,000		119,789
5.95% 11/15/37		100,000		127,494
Merck
0.70% 5/18/16		125,000		125,242
1.10% 1/31/18		150,000		148,549
1.30% 5/18/18		100,000		98,783
2.25% 1/15/16		100,000		102,240
2.40% 9/15/22		150,000		143,389
2.80% 5/18/23		250,000		243,565
3.60% 9/15/42		100,000		91,272
3.875% 1/15/21		100,000		107,327
4.15% 5/18/43		242,000		240,418
5.00% 6/30/19		100,000		112,753
5.85% 6/30/39		100,000		125,245
6.00% 9/15/17		50,000		56,717
6.40% 3/1/28		50,000		64,461
6.50% 12/1/33		200,000		269,401
6.55% 9/15/37		200,000		265,963
Mylan
2.55% 3/28/19		75,000		74,663
2.60% 6/24/18		200,000		202,043
5.40% 11/29/43		133,000		141,486
Novartis Capital
2.40% 9/21/22		250,000		241,983
3.40% 5/6/24		250,000		254,453
3.70% 9/21/42		150,000		140,801
4.40% 4/24/20		100,000		110,865
4.40% 5/6/44		250,000		261,059
Novartis Securities Investment 5.125% 2/10/19		400,000		449,665
Perrigo
#144A 1.30% 11/8/16		206,000		206,296
#144A 4.00% 11/15/23		250,000		254,814


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Pharmaceuticals (continued)
Pfizer
0.90% 1/15/17		500,000	$	498,774
3.00% 6/15/23		200,000		198,739
3.40% 5/15/24		200,000		200,112
4.40% 5/15/44		400,000		405,023
6.20% 3/15/19		400,000		467,936
7.20% 3/15/39		300,000		425,078
Sanofi 1.25% 4/10/18		91,000		89,769
Sanofi-Aventis
2.625% 3/29/16		350,000		360,560
4.00% 3/29/21		325,000		349,536
Teva Pharmaceutical Finance
2.95% 12/18/22		175,000		167,059
6.15% 2/1/36		100,000		120,620
Teva Pharmaceutical Finance IV
2.25% 3/18/20		250,000		244,361
3.65% 11/10/21		250,000		254,497
Watson Pharmaceuticals
3.25% 10/1/22		250,000		241,555
4.625% 10/1/42		125,000		114,649
6.125% 8/15/19		45,000		51,486
Wyeth
5.50% 2/15/16		400,000		426,999
5.95% 4/1/37		350,000		430,460
6.00% 2/15/36		100,000		125,559
6.50% 2/1/34		100,000		131,033
Zoetis
1.15% 2/1/16		20,000		20,050
3.25% 2/1/23		163,000		159,694
4.70% 2/1/43		150,000		151,409

				20,219,299

Real Estate Investment Trusts–0.67%
Alexandria Real Estate Equities 4.50% 7/30/29		110,000		110,313
American Tower
3.45% 9/15/21		250,000		245,476
3.50% 1/31/23		250,000		238,093
4.50% 1/15/18		200,000		213,667
4.70% 3/15/22		225,000		235,902
5.00% 2/15/24		100,000		105,009
5.05% 9/1/20		100,000		108,582
5.90% 11/1/21		65,000		72,831
#ARC Properties Operating Partnership 144A 4.60% 2/6/24		200,000		203,979
AvalonBay Communities
3.625% 10/1/20		200,000		208,134
6.10% 3/15/20		100,000		116,761
BioMed Realty
2.625% 5/1/19		100,000		99,452
3.85% 4/15/16		100,000		104,271


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Real Estate Investment Trusts (continued)
Boston Properties
3.70% 11/15/18		100,000	$	105,929
3.85% 2/1/23		125,000		127,941
4.125% 5/15/21		250,000		265,404
5.625% 11/15/20		150,000		171,534
5.875% 10/15/19		100,000		115,330
Brandywine Operating Partnership
4.55% 10/1/29		200,000		197,153
4.95% 4/15/18		100,000		107,873
Camden Property Trust
4.25% 1/15/24		67,000		70,107
4.625% 6/15/21		100,000		108,673
CBL & Associates 5.25% 12/1/23		67,000		72,066
Corporate Office Properties 3.70% 6/15/21		150,000		148,349
CubeSmart 4.375% 12/15/23		100,000		103,535
DDR
3.50% 1/15/21		150,000		151,306
7.50% 4/1/17		200,000		227,611
Digital Realty Trust 5.25% 3/15/21		100,000		108,684
Duke Realty
4.375% 6/15/22		100,000		104,540
6.75% 3/15/20		50,000		59,078
Entertainment Properties Trust 5.75% 8/15/22		100,000		109,825
EPR Properties 5.25% 7/15/23		75,000		78,987
ERP Operating
2.375% 7/1/19		150,000		149,210
4.50% 7/1/44		150,000		148,310
4.625% 12/15/21		150,000		163,881
4.75% 7/15/20		100,000		110,608
5.125% 3/15/16		100,000		106,211
Essex Portfolio
3.25% 5/1/23		100,000		96,983
3.375% 1/15/23		250,000		246,649
Excel Trust 4.625% 5/15/24		50,000		50,922
Federal Realty Investment Trust 2.75% 6/1/23		100,000		95,281
Government Properties Income Trust 3.75% 8/15/19		100,000		100,799
HCP
2.625% 2/1/20		200,000		197,319
3.75% 2/1/16		55,000		57,127
3.75% 2/1/19		100,000		105,430
3.875% 8/15/24		200,000		196,326
4.25% 11/15/23		186,000		192,070
5.375% 2/1/21		200,000		223,469
6.30% 9/15/16		125,000		137,573
Health Care REIT
3.625% 3/15/16		100,000		103,805
4.50% 1/15/24		250,000		257,687
5.25% 1/15/22		100,000		110,802


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Real Estate Investment Trusts (continued)
Health Care REIT (continued)
6.125% 4/15/20		135,000	$	156,319
6.20% 6/1/16		50,000		54,305
6.50% 3/15/41		250,000		313,979
Healthcare Realty Trust
5.75% 1/15/21		200,000		222,991
6.50% 1/17/17		100,000		110,648
Healthcare Trust of America Holdings 3.375% 7/15/21		100,000		99,647
Hospitality Properties Trust
5.00% 8/15/22		300,000		316,266
5.625% 3/15/17		100,000		108,461
Host Hotels & Resorts
4.75% 3/1/23		150,000		159,457
5.25% 3/15/22		400,000		440,404
Kilroy Realty
4.25% 8/15/29		150,000		148,640
4.80% 7/15/18		100,000		108,075
Kimco Realty
3.20% 5/1/21		150,000		149,869
6.875% 10/1/19		150,000		178,383
Lexington Realty Trust 4.40% 6/15/24		60,000		60,307
Liberty Property
4.125% 6/15/22		50,000		51,891
4.40% 2/15/24		100,000		104,718
5.50% 12/15/16		100,000		108,507
6.625% 10/1/17		50,000		56,601
Mack-Cali Realty 7.75% 8/15/19		100,000		118,886
Mid-America Apartments
3.75% 6/15/24		100,000		98,771
4.30% 10/15/23		50,000		51,881
National Retail Properties
3.30% 4/15/23		100,000		96,861
5.50% 7/15/21		100,000		112,924
Omega Healthcare Investors
#144A 4.95% 4/1/24		57,000		58,283
6.75% 10/15/22		100,000		106,750
ProLogis
4.25% 8/15/23		150,000		155,112
4.50% 8/15/17		100,000		107,186
6.875% 3/15/20		104,000		123,035
Realty Income
3.875% 7/15/24		65,000		64,745
4.65% 8/1/23		100,000		106,830
5.75% 1/15/21		100,000		113,991
5.875% 3/15/35		50,000		57,959
5.95% 9/15/16		110,000		120,143
Senior Housing Properties Trust
4.30% 1/15/16		100,000		102,913
4.75% 5/1/24		200,000		202,009
Simon Property Group
3.375% 3/15/22		150,000		153,398


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Real Estate Investment Trusts (continued)
Simon Property Group (continued)
3.375% 10/1/24		250,000	$	247,733
4.125% 12/1/21		300,000		322,227
5.65% 2/1/20		200,000		230,431
6.75% 2/1/40		300,000		403,099
10.35% 4/1/19		200,000		265,984
Tanger Properties 3.875% 12/1/23		100,000		101,221
UDR
4.25% 6/1/18		100,000		107,187
4.625% 1/10/22		100,000		107,058
Ventas Realty
2.70% 4/1/20		100,000		98,506
3.75% 5/1/24		150,000		147,825
4.00% 4/30/19		200,000		212,939
4.25% 3/1/22		200,000		208,750
4.75% 6/1/21		100,000		109,024
Vornado Realty 2.50% 6/30/19		100,000		99,834
Washington Real Estate Investment Trust 3.95% 10/15/22		100,000		100,116
Weingarten Realty Investors 3.375% 10/15/22		150,000		148,876
Weyerhaeuser
4.625% 9/15/23		250,000		265,271
7.375% 3/15/32		250,000		332,275

				15,756,358

Real Estate Management & Development–0.02%
American Campus Communities
Operating Partnership 4.125% 7/1/24		100,000		100,484
Jones Lang LaSalle 4.40% 11/15/22		100,000		102,319
Regency Centers 4.80% 4/15/21		100,000		109,040
WP Carey 4.60% 4/1/24		100,000		103,563

				415,406

Road & Rail–0.32%
Burlington Northern Santa Fe
3.00% 3/15/23		100,000		97,710
3.05% 3/15/22		150,000		149,673
3.45% 9/15/21		200,000		206,569
3.85% 9/1/23		100,000		103,483
4.10% 6/1/21		100,000		107,577
4.40% 3/15/42		100,000		98,988
4.45% 3/15/43		100,000		99,771
4.95% 9/15/41		100,000		107,903
5.05% 3/1/41		100,000		107,811
5.15% 9/1/43		150,000		165,306
5.65% 5/1/17		350,000		388,292
5.75% 5/1/40		200,000		238,119
6.15% 5/1/37		100,000		124,895
7.95% 8/15/30		100,000		139,815
Canadian National Railway
4.50% 11/7/43		75,000		79,682


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Road & Rail (continued)
Canadian National Railway (continued)
5.55% 3/1/19		200,000	$	228,985
5.85% 11/15/17		150,000		170,143
6.20% 6/1/36		100,000		130,305
6.25% 8/1/34		100,000		128,515
Canadian Pacific Railway
4.45% 3/15/23		100,000		108,936
7.125% 10/15/31		150,000		205,249
7.25% 5/15/19		65,000		78,751
Con-way 7.25% 1/15/18		100,000		115,158
CSX
3.70% 10/30/20		275,000		289,813
3.70% 11/1/23		94,000		97,058
4.10% 3/15/44		100,000		94,376
4.40% 3/1/43		200,000		199,056
5.50% 4/15/41		200,000		232,193
6.15% 5/1/37		120,000		149,278
6.22% 4/30/40		100,000		125,630
7.375% 2/1/19		100,000		120,866
Kansas City Southern de Mexico de CV
2.35% 5/15/20		150,000		143,919
Kansas City Southern Railway 4.30% 5/15/43		100,000		97,211
Norfolk Southern
2.903% 2/15/23		121,000		117,227
3.00% 4/1/22		118,000		117,664
3.25% 12/1/21		100,000		102,097
3.85% 1/15/24		150,000		155,414
4.80% 8/15/43		125,000		134,555
4.837% 10/1/41		111,000		119,553
5.75% 4/1/18		100,000		113,160
5.90% 6/15/19		100,000		115,874
6.00% 5/23/11		100,000		120,796
7.70% 5/15/17		240,000		278,652
Ryder System
2.50% 3/1/17		200,000		205,443
5.85% 11/1/16		100,000		109,351
Union Pacific
3.25% 1/15/25		95,000		94,606
3.646% 2/15/24		185,000		191,587
4.00% 2/1/21		65,000		70,463
4.163% 7/15/22		190,000		206,767
4.75% 9/15/41		200,000		216,819
4.75% 12/15/43		105,000		113,302
4.821% 2/1/44		25,000		27,230

				7,541,596

Semiconductors & Semiconductor Equipment–0.16%
Altera 2.50% 11/15/18		250,000		252,511
Analog Devices 3.00% 4/15/16		100,000		103,137
Applied Materials 5.85% 6/15/41		100,000		119,926
Broadcom 2.50% 8/15/22		250,000		238,031


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Semiconductors & Semiconductor Equipment (continued)
Intel
1.35% 12/15/17		400,000	$	399,015
1.95% 10/1/16		200,000		204,506
2.70% 12/15/22		150,000		146,130
3.30% 10/1/21		254,000		261,645
4.00% 12/15/32		250,000		248,098
4.25% 12/15/42		250,000		244,786
4.80% 10/1/41		172,000		180,040
KLA-Tencor 6.90% 5/1/18		100,000		115,998
Maxim Integrated Products
2.50% 11/15/18		200,000		201,350
3.375% 3/15/23		100,000		96,510
Texas Instruments
1.65% 8/3/19		100,000		97,368
2.25% 5/1/23		250,000		235,317
2.375% 5/16/16		100,000		102,860
2.75% 3/12/21		200,000		201,598
Xilinx 3.00% 3/15/21		200,000		200,432

				3,649,258

Software–0.29%
Adobe Systems 4.75% 2/1/20		85,000		93,533
Autodesk 1.95% 12/15/17		100,000		100,467
CA
2.875% 8/15/18		150,000		152,188
5.375% 12/1/19		100,000		111,158
Intuit 5.75% 3/15/17		100,000		110,401
Microsoft
2.375% 5/1/23		150,000		143,859
3.00% 10/1/20		300,000		311,670
3.50% 11/15/42		150,000		135,076
3.625% 12/15/23		300,000		314,072
4.20% 6/1/19		200,000		219,760
4.50% 10/1/40		100,000		104,408
4.875% 12/15/43		100,000		111,027
5.20% 6/1/39		200,000		229,543
5.30% 2/8/41		400,000		467,634
Oracle
1.20% 10/15/17		350,000		347,631
2.25% 10/8/19		300,000		298,971
2.375% 1/15/19		200,000		202,842
2.50% 10/15/22		550,000		526,583
3.875% 7/15/20		100,000		107,045
4.30% 7/8/34		700,000		706,451
5.00% 7/8/19		250,000		280,850
5.25% 1/15/16		200,000		212,001
5.375% 7/15/40		400,000		455,106
5.75% 4/15/18		375,000		425,583
6.125% 7/8/39		150,000		186,182
6.50% 4/15/38		200,000		258,068
Symantec
3.95% 6/15/22		150,000		152,052


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Software (continued)
Symantec (continued)
4.20% 9/15/20		100,000	$	103,550

				6,867,711

Specialty Retail–0.25%
Advance Auto Parts
4.50% 1/15/22		100,000		105,244
4.50% 12/1/23		100,000		104,611
AutoZone
2.875% 1/15/23		100,000		95,726
4.00% 11/15/20		75,000		79,607
Bed Bath & Beyond
3.749% 8/1/24		50,000		49,637
4.915% 8/1/34		30,000		29,906
Gap 5.95% 4/12/21		150,000		170,823
Home Depot
2.00% 6/15/19		400,000		397,736
2.25% 9/10/18		143,000		145,404
2.70% 4/1/23		150,000		145,409
3.75% 2/15/24		200,000		208,755
4.20% 4/1/43		150,000		148,543
4.40% 4/1/21		100,000		111,402
4.875% 2/15/44		96,000		104,584
5.40% 3/1/16		450,000		480,054
5.40% 9/15/40		100,000		116,939
5.875% 12/16/36		350,000		432,398
5.95% 4/1/41		100,000		125,035
Lowe’s
1.625% 4/15/17		150,000		151,394
3.12% 4/15/22		100,000		101,418
3.875% 9/15/23		200,000		209,986
4.25% 9/15/44		250,000		244,633
4.625% 4/15/20		150,000		166,518
4.65% 4/15/42		100,000		104,428
5.40% 10/15/16		200,000		217,945
5.80% 10/15/36		200,000		239,585
5.80% 4/15/40		20,000		24,219
6.65% 9/15/37		100,000		131,445
O’Reilly Automotive
3.80% 9/1/22		100,000		102,388
4.875% 1/14/21		45,000		49,148
QVC 4.375% 3/15/23		600,000		599,660
Ross Stores 3.375% 9/15/24		100,000		99,432
Signet UK Finance 4.70% 6/15/24		50,000		50,372
#Tiffany 144A 3.80% 10/1/24		180,000		180,253
TJX
2.50% 5/15/23		100,000		95,691
6.95% 4/15/19		55,000		65,964

				5,886,292


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Textiles, Apparel & Luxury Goods–0.02%
NIKE
2.25% 5/1/23		100,000	$	94,708
3.625% 5/1/43		100,000		94,474
Ralph Lauren 2.125% 9/26/18		50,000		50,437
VF 6.00% 10/15/33		150,000		182,417

				422,036

Thrift & Mortgage Finance–0.01%
People’s United Financial 3.65% 12/6/22		150,000		150,689
Santander Holdings USA 4.625% 4/19/16		100,000		105,376

				256,065

Tobacco–0.21%
Altria Group
2.85% 8/9/22		200,000		191,900
4.00% 1/31/24		89,000		90,996
4.50% 5/2/43		100,000		94,775
4.75% 5/5/21		200,000		218,183
5.375% 1/31/44		63,000		67,378
9.70% 11/10/18		119,000		153,431
9.95% 11/10/38		113,000		187,407
10.20% 2/6/39		97,000		163,935
Lorillard Tobacco
2.30% 8/21/17		100,000		101,259
3.50% 8/4/16		45,000		46,767
3.75% 5/20/23		200,000		197,052
8.125% 6/23/19		100,000		122,454
8.125% 5/1/40		100,000		136,338
Philip Morris International
1.875% 1/15/19		500,000		495,673
2.50% 5/16/16		250,000		257,181
2.90% 11/15/21		250,000		250,351
3.60% 11/15/23		600,000		608,721
4.125% 3/4/43		150,000		142,196
4.375% 11/15/41		200,000		196,431
4.50% 3/26/20		100,000		109,936
4.50% 3/20/42		100,000		100,800
5.65% 5/16/18		300,000		339,566
6.375% 5/16/38		150,000		188,879
Reynolds American
4.75% 11/1/42		125,000		119,325
4.85% 9/15/23		225,000		240,089
6.15% 9/15/43		125,000		143,508

				4,964,531

Trading Companies & Distributors–0.01%
GATX
2.50% 3/15/19		167,000		167,301


	Principal Amount°		Value (U.S. $)

CORPORATE BONDS (continued)
Trading Companies & Distributors (continued)
GATX (continued)
3.90% 3/30/23		101,000	$	102,957
5.20% 3/15/44		50,000		53,361

				323,619

Wireless Telecommunication Services–0.21%
America Movil
2.375% 9/8/16		400,000		409,048
3.125% 7/16/22		200,000		194,716
4.375% 7/16/42		200,000		186,949
5.00% 3/30/20		200,000		219,862
6.125% 11/15/37		150,000		176,731
6.125% 3/30/40		250,000		293,605
6.375% 3/1/35		25,000		30,408
Rogers Communications
3.00% 3/15/23		125,000		119,375
4.10% 10/1/23		300,000		311,606
4.50% 3/15/43		100,000		97,812
5.00% 3/15/44		100,000		102,349
6.80% 8/15/18		150,000		175,779
7.50% 8/15/38		25,000		33,828
Vodafone Group
1.50% 2/19/18		350,000		345,196
2.50% 9/26/22		300,000		278,020
2.95% 2/19/23		225,000		212,423
4.375% 2/19/43		150,000		136,194
5.45% 6/10/19		200,000		225,360
5.625% 2/27/17		300,000		329,032
6.15% 2/27/37		700,000		806,233
7.875% 2/15/30		100,000		134,472

				4,818,998


Total Corporate Bonds (Cost $551,736,036)				579,146,632


MUNICIPAL BONDS–0.91%
American Municipal Power, Ohio Taxable Build America Bonds Series B
6.449% 2/15/44		50,000		62,771
7.834% 2/15/41		55,000		78,843
8.084% 2/15/50		800,000		1,245,328
Bay Area Toll Authority, California Toll Bridge Revenue Taxable Build America Bonds
Series F-2 6.263% 4/1/49		200,000		268,118
Series S1 6.793% 4/1/30		100,000		125,053
Series S1 6.918% 4/1/40		100,000		135,279
Series S1 7.043% 4/1/50		100,000		143,723
California State 3.95% 11/1/15		100,000		103,725
California State Taxable Build America Bonds
6.65% 3/1/22		200,000		247,160
7.30% 10/1/39		1,100,000		1,538,515
7.50% 4/1/34		325,000		463,996


	Principal Amount°		Value (U.S. $)

MUNICIPAL BONDS (continued)
California State Taxable Build America Bonds (continued)
7.55% 4/1/39		600,000	$	875,520
7.60% 11/1/40		80,000		118,375
7.625% 3/1/40		85,000		124,027
7.95% 3/1/36		100,000		122,079
California State Various Purposes
5.75% 3/1/17		100,000		110,758
5.95% 4/1/16		35,000		37,749
6.20% 10/1/19		100,000		118,447
Central Puget Sound, Washington Regional Transportation Authority Sales & Use Tax Revenue Taxable Build America Bonds 5.491% 11/1/39		50,000		60,217
Chicago, Illinois Board of Education 6.319% 11/1/29		100,000		101,169
Chicago, Illinois Transit Authority Transfer Tax Receipts Revenue
Series A 6.899% 12/1/40		100,000		123,560
Series B 6.899% 12/1/40		40,000		49,424
City & County of Denver, Colorado Taxable Build America Bonds 5.65% 8/1/30		100,000		112,373
Clark County, Nevada Airport Revenue Taxable Build America Bonds
6.881% 7/1/42		50,000		56,349
Series C 6.82% 7/1/45		75,000		103,220
Commonwealth of Massachusetts Consolidated Loan Taxable Build America Bonds 5.456% 12/1/39		100,000		120,812
Commonwealth of Massachusetts Taxable Build America Bonds
4.91% 5/1/29		100,000		112,413
Series E 4.20% 12/1/21		100,000		109,340
Connecticut State Taxable Build America Bonds
Series A 5.85% 3/15/32		100,000		121,958
Series D 5.09% 10/1/30		200,000		225,738
Dallas Area, Texas Rapid Transit 5.999% 12/1/44		200,000		260,742
Dallas, Texas Independent School District Taxable Build America Bonds Series C 6.45% 2/15/35 (PSF)		100,000		118,357
East Baton Rouge, Louisiana Sewerage Commission 6.087% 2/1/45		100,000		110,535
East Bay Municipal Utility District Taxable Build America Bonds 5.874% 6/1/40		100,000		127,087
Georgia State Taxable Build America Bonds Series H 4.503% 11/1/25		100,000		110,742
Greater Chicago Metropolitan Water Reclamation District Taxable Build America Bonds 5.72% 12/1/38		150,000		179,943


	Principal Amount°		Value (U.S. $)

MUNICIPAL BONDS (continued)
Illinois State
4.961% 3/1/16		100,000	$	105,220
5.665% 3/1/18		250,000		275,790
Illinois State Taxable Pension
4.35% 6/1/18		500,000		522,780
4.95% 6/1/23		100,000		103,744
5.10% 6/1/33		800,000		777,640
Illinois State Toll Highway Authority Taxable Build America Bonds Series B 5.851% 12/1/34		100,000		122,950
Los Angeles, California Community College District
6.60% 8/1/42		100,000		137,859
6.75% 8/1/49		100,000		143,117
Los Angeles, California County Public Works Financing Authority
7.488% 8/1/33		100,000		128,612
7.618% 8/1/40		100,000		138,121
Los Angeles, California Department of Airports Taxable Build America Bonds 6.582% 5/15/39		25,000		31,619
Los Angeles, California Department of Water & Power Taxable Build America Bonds Series C 6.008% 7/1/39		25,000		30,997
Los Angeles, California Unified School District Taxable Build America Bonds 6.758% 7/1/34		315,000		422,050
Massachusetts State Water Pollution Abatement 5.192% 8/1/40		70,000		80,043
Metropolitan Government of Nashville & Davidson County Convention Center Authority Taxable Build America Bonds Series B 6.731% 7/1/43		50,000		64,210
Metropolitan Transportation Authority, New York Revenue Taxable Build America Bonds
5.871% 11/15/39		100,000		122,119
6.668% 11/15/39		130,000		174,061
Series E 6.814% 11/15/40		500,000		684,720
Mississippi State Taxable Build America Bonds Series F 5.245% 11/1/34		100,000		116,225
Municipal Electric Authority, Georgia Build America Bonds (PLT Vogtle Units 3 & 4 Project)
6.655% 4/1/57		125,000		153,854
Taxable 6.637% 4/1/57		150,000		188,271
Taxable 7.055% 4/1/57		100,000		112,144
New Jersey Economic Development Authority
1.096% 6/15/16		250,000		249,713
Series A 7.425% 2/15/29 (NATL-RE)		225,000		288,113
^Series B 6.23% 2/15/22 (AGM)		200,000		151,236
New Jersey State Transportation Trust Fund Authority Taxable Build America Bonds 6.561% 12/15/40		100,000		127,989


	Principal Amount°		Value (U.S. $)

MUNICIPAL BONDS (continued)
New Jersey State Transportation Trust Fund Authority Taxable Build America Bonds (continued)
Series C 5.754% 12/15/28		100,000	$	115,185
Series C 6.104% 12/15/28		200,000		222,774
New Jersey State Turnpike Authority Revenue Taxable Build America Bonds
Series A 7.102% 1/1/41		350,000		485,769
Series F 7.414% 1/1/40		90,000		128,987
New York City, New York 5.517% 10/1/37		85,000		99,343
New York City, New York Municipal Water Finance Authority Taxable Build America Bonds
5.724% 6/15/42		65,000		80,506
5.75% 6/15/41		100,000		124,310
5.79% 6/15/41		200,000		220,212
5.952% 6/15/42		100,000		127,562
6.011% 6/15/42		35,000		44,812
New York City, New York Taxable Build America Bonds
Series A2 5.206% 10/1/31		100,000		114,000
Series F-1 6.271% 12/1/37		100,000		127,030
New York City, New York Transitional Finance Authority 5.508% 8/1/37		200,000		240,740
New York City, New York Transitional Finance Authority Taxable Build America Bonds 5.572% 11/1/38		65,000		78,275
New York State Dormitory Authority Taxable Build America Bonds
5.50% 3/15/30		100,000		116,596
5.60% 3/15/40		100,000		123,357
New York State Urban Development Taxable Build America Bonds 5.77% 3/15/39		50,000		60,363
Ohio State University Taxable Build America Bonds Series C 4.91% 6/1/40		100,000		112,778
Oregon School Boards Association Taxable Pension Series B 5.55% 6/30/28 (NATL-RE)		250,000		288,605
Oregon State Department of Transportation Taxable Series A Sub-Lien 5.834% 11/15/34		75,000		93,571
Pennsylvania State Public School Building Authority Revenue Qualified School Construction Bond Taxable (Direct Subsidiary) Series A 5.00% 9/15/27		100,000		110,314
Pennsylvania State Taxable Series B 2nd 5.35% 5/1/30		100,000		108,914
Pennsylvania State Turnpike Commission Revenue Taxable Build America Bonds
5.561% 12/1/49		200,000		235,058
Series B 5.511% 12/1/45		150,000		174,051
Series B 6.105% 12/1/39		100,000		123,125


	Principal Amount°		Value (U.S. $)

MUNICIPAL BONDS (continued)
Philadelphia Authority for Industrial Development 3.964% 4/15/26		105,000	$	104,656
Port Authority of New York & New Jersey Consolidated
Series 165th 5.647% 11/1/40		250,000		301,873
Series 168th 4.926% 10/1/51		350,000		384,720
Series 174th 4.458% 10/1/62		250,000		249,485
Series 181st 4.96% 8/1/46		156,250		172,613
Port of Seattle, Washington Taxable Series-B1 7.00% 5/1/36		100,000		116,290
Rutgers State University of New Jersey/New Brunswick Taxable Build America Bonds 5.665% 5/1/40		155,000		188,494
Salt River, Arizona Project Agricultural Improvement & Power District 4.839% 1/1/41		60,000		68,591
San Antonio, Texas Electric & Gas Taxable Build America Bonds
4.427% 2/1/42		250,000		268,353
5.985% 2/1/39		50,000		64,643
San Diego County, California Regional Transportation Commission 5.911% 4/1/48		100,000		129,918
San Diego County, California Water Authority Financing Agency Revenue Taxable Build America Bonds Series B 6.138% 5/1/49		100,000		131,859
San Francisco City & County Public Utilities Commission Taxable Build America Bonds 6.00% 11/1/40		100,000		126,177
Series B 6.00% 11/1/40		100,000		125,574
Texas State Taxable Build America Bonds 5.517% 4/1/39		100,000		124,794
Texas State Transportation Commission 1st Tier 5.178% 4/1/30		200,000		234,810
University of California Build America Bonds Series H 6.548% 5/15/48		100,000		130,613
University of California Taxable Series AD 4.858% 5/15/11		250,000		240,223
University of Massachusetts Building Authority Taxable Build America Bonds 5.45% 11/1/40		100,000		118,149
University of Missouri (Curators University) Taxable Build America Bonds 5.792% 11/1/41		100,000		130,829
University of Texas System Revenue Taxable Build America Bonds Series C 4.794% 8/15/46		90,000		102,557
University of Virginia Revenue Taxable Build America Bonds 6.20% 9/1/39		50,000		68,265
Utah State Taxable Build America Bonds Series B 3.539% 7/1/25		100,000		104,360


	Principal Amount°		Value (U.S. $)

MUNICIPAL BONDS (continued)
Utah State Taxable Build America Bonds (continued) Series D 4.554% 7/1/24		60,000	$	66,672
Virginia Commonwealth Transportation Board Taxable Build America Bonds 5.35% 5/15/35		100,000		116,434
Washington State Convention Center Public Facilities District 6.79% 7/1/40		50,000		60,840
Washington State Taxable Build America Bonds
Series D 5.481% 8/1/39		50,000		60,807
Series F 5.09% 8/1/33		100,000		115,266


Total Municipal Bonds (Cost $18,589,434)				21,440,744


NON-AGENCY ASSET-BACKED SECURITIES–0.49%
AEP Texas Central Transition Funding II Series 2006-A A4 5.17% 1/1/18		250,000		270,107
Capital Auto Receivables Asset Trust Series 2013-3 A4 1.68% 4/20/18		1,770,000		1,788,102
CarMax Auto Owner Trust
Series 2013-2 A3 0.64% 1/16/18		400,000		399,954
Series 2013-2 A4 0.84% 11/15/18		750,000		743,003
Series 2013-3 A4 1.49% 1/15/19		400,000		401,286
CenterPoint Energy Restoration Bond Series 2009-1 A2 3.46% 8/15/19		400,000		418,840
Chase Issuance Trust
Series 2012-A8 A8 0.54% 10/16/17		750,000		749,919
Series 2014-A2 A2 2.77% 3/15/23		1,100,000		1,108,287
Citibank Credit Card Issuance Trust
Series 2005-A9 A9 5.10% 11/20/17		200,000		210,147
Series 2006-A3 A3 5.30% 3/15/18		250,000		266,535
Series 2007-A3 A3 6.15% 6/15/39		750,000		949,836
Series 2008-A1 A1 5.35% 2/7/20		500,000		559,935
Discover Card Execution Note Trust Series 2007-A1 A1 5.65% 3/16/20		750,000		837,596
Santander Drive Auto Receivables Trust Series 2012-4 C 2.94% 12/15/17		2,000,000		2,040,574
World Financial Network Credit Card Master Trust Series 2013-B A 0.91% 3/16/20		750,000		749,419


Total Non-Agency Asset-Backed Securities (Cost $11,425,917)				11,493,540


DREGIONAL BONDS–0.33%
Canada–0.31%
British Columbia Province
1.20% 4/25/17		200,000		200,928
2.00% 10/23/22		150,000		143,714
2.10% 5/18/16		200,000		204,963
6.50% 1/15/26		100,000		131,437
7.25% 9/1/36		100,000		149,446
Manitoba Province 1.30% 4/3/17		250,000		251,903


	Principal Amount°		Value (U.S. $)

DREGIONAL BONDS (continued)
Canada (continued)
Manitoba Province (continued)
2.10% 9/6/22		63,000	$	60,538
4.90% 12/6/16		300,000		326,615
New Brunswick Province 2.75% 6/15/18		200,000		208,113
Nova Scotia Province 5.125% 1/26/17		50,000		54,797
Ontario Province
1.00% 7/22/16		300,000		301,583
1.10% 10/25/17		500,000		496,847
1.20% 2/14/18		100,000		98,977
1.60% 9/21/16		400,000		406,520
1.65% 9/27/19		100,000		97,956
2.00% 9/27/18		300,000		302,951
2.30% 5/10/16		300,000		308,152
2.45% 6/29/22		150,000		146,963
3.00% 7/16/18		200,000		209,693
3.15% 12/15/17		250,000		263,669
4.00% 10/7/19		200,000		217,994
4.40% 4/14/20		400,000		443,844
5.45% 4/27/16		300,000		322,733
Quebec Province
2.625% 2/13/23		350,000		343,766
3.50% 7/29/20		300,000		319,862
4.625% 5/14/18		200,000		221,506
5.00% 3/1/16		300,000		318,877
7.50% 7/15/23		200,000		266,765
7.50% 9/15/29		175,000		248,524
Saskatchewan Province 8.50% 7/15/22		100,000		138,231

				7,207,867

Italy–0.01%
Region of Lombardy 5.804% 10/25/32		100,000		107,472

				107,472

Japan–0.01%
Japan Finance Organization for Municipalities
4.00% 1/13/21		100,000		109,330
5.00% 5/16/17		200,000		219,845

				329,175


Total Regional Bonds (Cost $7,427,367)				7,644,514


DSOVEREIGN BONDS–1.67%
Brazil–0.22%
Brazil Global Bond
8.875% 4/15/24		100,000		136,750
10.125% 5/15/27		226,000		351,430
Republic of Brazil 4.25% 1/7/25		1,140,000		1,130,025


	Principal Amount°		Value (U.S. $)

DSOVEREIGN BONDS (continued)
Brazil (continued)
Republic of Brazil (continued)
4.875% 1/22/21		600,000	$	640,800
5.625% 1/7/41		325,000		337,187
6.00% 1/17/17		500,000		547,500
7.125% 1/20/37		600,000		739,500
8.00% 1/15/18		77,778		85,867
8.25% 1/20/34		150,000		202,125
8.75% 2/4/25		271,000		372,625
8.875% 10/14/19		200,000		255,000
11.00% 8/17/40		300,000		326,250

				5,125,059

Canada–0.08%
Canada Government International Bond
0.875% 2/14/17		500,000		499,495
1.625% 2/27/19		800,000		797,956
Export Development Canada
0.625% 12/15/16		500,000		498,218
0.75% 12/15/17		200,000		196,802

				1,992,471

Chile–0.02%
Chile Government International Bond
2.25% 10/30/22		100,000		95,000
3.875% 8/5/20		250,000		268,000

				363,000

Colombia–0.11%
Republic of Colombia
2.625% 3/15/23		200,000		184,500
4.00% 2/26/24		250,000		253,500
6.125% 1/18/41		200,000		235,300
7.375% 3/18/19		700,000		838,250
7.375% 9/18/37		500,000		671,250
8.125% 5/21/24		250,000		332,500

				2,515,300

Israel–0.05%
Israel Government AID Bond 5.50% 4/26/24		200,000		243,477
Israel Government International Bond
3.15% 6/30/23		200,000		201,300
4.00% 6/30/22		150,000		161,175
4.50% 1/30/43		200,000		199,000
5.125% 3/26/19		175,000		198,013
5.50% 11/9/16		100,000		109,621

				1,112,586

Italy–0.10%
Republic of Italy
4.75% 1/25/16		200,000		209,813
5.25% 9/20/16		400,000		431,875
5.375% 6/12/17		200,000		219,938


	Principal Amount°		Value (U.S. $)

DSOVEREIGN BONDS (continued)
Italy (continued)
Republic of Italy (continued)
5.375% 6/15/33		800,000	$	964,933
6.875% 9/27/23		350,000		450,139

				2,276,698

Japan–0.11%
Development Bank of Japan 5.125% 2/1/17		200,000		218,757
Japan Bank for International Cooperation
1.125% 7/19/17		250,000		249,631
1.75% 7/31/18		500,000		501,844
1.75% 11/13/18		500,000		500,392
1.75% 5/29/19		200,000		198,718
2.25% 7/13/16		200,000		205,631
2.50% 1/21/16		200,000		205,323
2.50% 5/18/16		400,000		412,443
3.375% 7/31/23		200,000		211,142

				2,703,881

Mexico–0.19%
Mexico Government International Bond
3.50% 1/21/21		120,000		121,909
3.625% 3/15/22		868,000		884,492
4.00% 10/2/23		550,000		569,113
4.75% 3/8/44		1,000,000		997,500
5.625% 1/15/17		250,000		273,500
5.75% 10/12/10		500,000		518,750
6.05% 1/11/40		475,000		562,875
6.75% 9/27/34		500,000		637,500

				4,565,639

Panama–0.04%
Panama Government International Bond
5.20% 1/30/20		300,000		331,500
6.70% 1/26/36		200,000		246,500
7.125% 1/29/26		100,000		126,750
8.875% 9/30/27		100,000		143,250
9.375% 4/1/29		100,000		148,750

				996,750

Peru–0.07%
Republic of Peru
5.625% 11/18/50		100,000		113,500
6.55% 3/14/37		500,000		632,500
7.125% 3/30/19		225,000		268,875
7.35% 7/21/25		100,000		130,750
8.375% 5/3/16		100,000		111,350
8.75% 11/21/33		200,000		305,000

				1,561,975

Philippines–0.16%
Republic of Philippines 5.00% 1/13/37		500,000		555,000


	Principal Amount°		Value (U.S. $)

DSOVEREIGN BONDS (continued)
Philippines (continued)
Republic of Philippines (continued)
7.75% 1/14/31		1,000,000	$	1,393,750
8.375% 6/17/19		1,000,000		1,257,500
9.50% 2/2/30		300,000		469,125

				3,675,375

Poland–0.09%
Republic of Poland
3.00% 3/17/23		250,000		242,345
5.00% 3/23/22		500,000		550,625
5.125% 4/21/21		700,000		781,165
6.375% 7/15/19		380,000		447,450

				2,021,585

Republic of Korea–0.02%
Republic of Korea
3.875% 9/11/23		200,000		214,430
5.125% 12/7/16		100,000		109,080
7.125% 4/16/19		200,000		242,300

				565,810

South Africa–0.05%
South Africa Government International Bond
4.665% 1/17/24		250,000		253,125
5.875% 5/30/22		100,000		111,000
5.875% 9/16/25		200,000		220,600
6.25% 3/8/41		100,000		113,875
6.875% 5/27/19		500,000		570,060

				1,268,660

Sweden–0.03%
Svensk Exportkredit
0.625% 5/31/16		200,000		200,053
1.125% 4/5/18		300,000		296,399
1.75% 10/20/15		55,000		55,819
5.125% 3/1/17		250,000		274,153

				826,424

Turkey–0.30%
Turkey Government International Bond
4.875% 4/16/43		500,000		453,500
5.75% 3/22/24		200,000		213,340
6.00% 1/14/41		1,100,000		1,142,625
6.25% 9/26/22		400,000		441,000
6.625% 2/17/45		800,000		899,000
6.75% 4/3/18		1,800,000		1,998,000
7.375% 2/5/25		1,500,000		1,785,000

				6,932,465

Uruguay–0.03%
Uruguay Government International Bond 7.625% 3/21/36		250,000		333,125


	Principal Amount°		Value (U.S. $)

DSOVEREIGN BONDS (continued)
Uruguay (continued)
Uruguay Government International Bond (continued) 8.00% 11/18/22		200,000	$	260,000

				593,125


Total Sovereign Bonds (Cost $38,054,366)				39,096,803


SUPRANATIONAL BANKS–1.59%
African Development Bank
0.75% 10/18/16		250,000		250,223
0.875% 5/15/17		115,000		114,508
0.875% 3/15/18		250,000		245,503
1.125% 3/15/17		200,000		200,793
1.25% 9/2/16		350,000		353,763
2.50% 3/15/16		100,000		102,910
Andina de Fomento
3.75% 1/15/16		200,000		207,130
4.375% 6/15/22		250,000		268,061
8.125% 6/4/19		140,000		172,801
Asian Development Bank
1.125% 3/15/17		500,000		502,223
1.375% 3/23/20		200,000		193,753
1.50% 9/28/18		400,000		398,632
1.75% 9/11/18		500,000		503,495
1.75% 3/21/19		350,000		350,609
1.875% 4/12/19		300,000		301,861
2.50% 3/15/16		250,000		257,349
5.50% 6/27/16		200,000		216,896
5.593% 7/16/18		200,000		226,933
Council of Europe Development Bank
1.125% 5/31/18		300,000		296,178
1.25% 9/22/16		200,000		202,134
1.50% 2/22/17		100,000		101,265
1.50% 6/19/17		100,000		101,089
European Bank for Reconstruction & Development
1.00% 2/16/17		250,000		250,674
1.00% 6/15/18		250,000		245,621
1.00% 9/17/18		150,000		146,743
1.50% 3/16/20		250,000		242,521
1.625% 4/10/18		250,000		250,501
1.625% 11/15/18		500,000		500,177
2.50% 3/15/16		500,000		515,072
European Investment Bank
0.50% 8/15/16		500,000		499,021
0.625% 4/15/16		2,000,000		2,004,462
0.875% 4/18/17		500,000		498,963
1.00% 3/15/18		1,000,000		986,903
1.00% 6/15/18		1,000,000		981,853
1.125% 9/15/17		200,000		199,850
1.375% 10/20/15		500,000		505,859
1.625% 6/15/17		1,000,000		1,015,771
1.875% 3/15/19		500,000		502,333


	Principal Amount°		Value (U.S. $)

SUPRANATIONAL BANKS (continued)
European Investment Bank (continued)
2.125% 7/15/16		200,000	$	205,371
2.25% 3/15/16		1,500,000		1,538,795
2.50% 4/15/21		1,500,000		1,523,850
2.875% 9/15/20		350,000		364,664
3.25% 1/29/24		600,000		630,457
4.00% 2/16/21		400,000		442,637
4.875% 2/16/16		300,000		318,275
4.875% 1/17/17		400,000		436,356
4.875% 2/15/36		700,000		857,814
5.125% 5/30/17		500,000		553,538
FMS Wertmanagement
0.625% 4/18/16		200,000		200,299
1.00% 11/21/17		250,000		247,848
1.625% 11/20/18		500,000		499,553
Inter-American Development Bank
0.875% 11/15/16		200,000		200,552
0.875% 3/15/18		500,000		491,388
1.00% 7/14/17		200,000		199,575
1.125% 3/15/17		250,000		252,358
1.375% 7/15/20		250,000		240,551
1.75% 8/24/18		500,000		503,749
2.125% 11/9/20		400,000		400,065
3.00% 10/4/23		500,000		521,121
3.00% 2/21/24		400,000		414,769
3.20% 8/7/42		100,000		91,762
3.875% 2/14/20		200,000		219,650
3.875% 10/28/41		100,000		102,513
4.375% 1/24/44		56,000		63,466
5.125% 9/13/16		500,000		543,221
International Bank for Reconstruction & Development
0.50% 4/15/16		500,000		499,189
0.50% 5/16/16		600,000		598,809
0.625% 10/14/16		600,000		598,947
0.875% 4/17/17		624,000		624,785
1.00% 9/15/16		750,000		755,002
1.125% 7/18/17		150,000		150,488
1.875% 3/15/19		1,000,000		1,010,681
2.125% 3/15/16		500,000		511,638
2.125% 11/1/20		1,000,000		1,002,147
2.125% 2/13/23		100,000		99,223
4.75% 2/15/35		50,000		60,505
5.00% 4/1/16		300,000		319,778
7.625% 1/19/23		100,000		138,588
International Finance
0.50% 5/16/16		150,000		149,839
0.625% 11/15/16		200,000		199,456
0.625% 12/21/17		200,000		195,914
0.875% 6/15/18		1,000,000		978,122
1.00% 4/24/17		250,000		250,156
1.125% 11/23/16		300,000		301,887
1.75% 9/16/19		400,000		398,082


	Principal Amount°		Value (U.S. $)

SUPRANATIONAL BANKS (continued)
International Finance (continued)
2.125% 11/17/17		200,000	$	205,278
2.25% 4/11/16		300,000		307,919
Nordic Investment Bank
0.50% 4/14/16		375,000		375,038
1.00% 3/7/17		350,000		350,410
2.25% 9/30/21		200,000		199,189
North American Development Bank 4.375% 2/11/20		100,000		107,284


Total Supranational Banks (Cost $36,883,532)				37,366,984


U.S. TREASURY OBLIGATIONS–35.06%
U.S. Treasury Bonds
2.75% 8/15/42		2,600,000		2,383,061
2.75% 11/15/42		3,500,000		3,203,046
2.875% 5/15/43		11,500,000		10,775,857
3.00% 5/15/42		2,850,000		2,752,923
3.125% 11/15/41		4,000,000		3,968,752
3.125% 2/15/42		3,050,000		3,020,930
3.125% 2/15/43		9,000,000		8,870,625
3.125% 8/15/44		2,000,000		1,968,282
3.50% 2/15/39		2,650,000		2,820,387
3.625% 8/15/43		5,000,000		5,405,470
3.625% 2/15/44		3,000,000		3,242,814
3.75% 8/15/41		3,850,000		4,275,306
3.875% 8/15/40		3,750,000		4,246,583
4.25% 11/15/40		4,000,000		4,805,936
4.375% 5/15/40		2,500,000		3,057,813
4.375% 5/15/41		2,750,000		3,373,906
4.50% 2/15/36		1,500,000		1,852,032
4.50% 5/15/38		950,000		1,174,957
4.50% 8/15/39		3,350,000		4,158,971
4.625% 2/15/40		4,100,000		5,194,187
4.75% 2/15/41		3,750,000		4,858,594
5.00% 5/15/37		3,000,000		3,960,000
5.25% 11/15/28		500,000		643,515
5.25% 2/15/29		1,200,000		1,545,563
5.375% 2/15/31		500,000		661,992
5.50% 8/15/28		500,000		656,485
6.00% 2/15/26		750,000		1,001,367
6.125% 11/15/27		800,000		1,099,625
6.125% 8/15/29		300,000		420,492
6.375% 8/15/27		1,250,000		1,749,219
6.625% 2/15/27		750,000		1,062,949
6.75% 8/15/26		500,000		710,469
6.875% 8/15/25		1,000,000		1,412,344
7.50% 11/15/24		500,000		725,547
7.625% 2/15/25		500,000		734,765
U.S. Treasury Notes
0.25% 10/15/15		3,500,000		3,504,102
0.25% 12/15/15		3,000,000		3,001,347
0.25% 2/29/16		3,000,000		2,997,831


	Principal Amount°		Value (U.S. $)

U.S. TREASURY OBLIGATIONS (continued)
U.S. Treasury Notes (continued)
0.375% 1/15/16		5,000,000	$	5,007,615
0.375% 2/15/16		12,000,000		12,016,404
0.375% 3/15/16		2,500,000		2,501,415
0.50% 8/31/16		35,000,000		34,966,505
0.50% 7/31/17		9,000,000		8,864,649
0.625% 7/15/16		4,000,000		4,009,608
0.625% 8/15/16		4,000,000		4,006,172
0.625% 10/15/16		9,000,000		8,997,192
0.625% 5/31/17		4,350,000		4,312,786
0.625% 8/31/17		19,600,000		19,342,750
0.625% 9/30/17		2,500,000		2,463,673
0.625% 11/30/17		2,250,000		2,209,745
0.625% 4/30/18		4,000,000		3,895,000
0.75% 10/31/17		15,000,000		14,811,915
0.75% 12/31/17		4,000,000		3,936,876
0.75% 2/28/18		2,500,000		2,452,735
0.75% 3/31/18		20,000,000		19,590,620
0.875% 9/15/16		4,000,000		4,022,108
0.875% 11/30/16		5,000,000		5,019,140
0.875% 12/31/16		12,200,000		12,233,831
0.875% 1/31/17		5,000,000		5,010,155
0.875% 2/28/17		6,200,000		6,207,025
0.875% 4/30/17		6,000,000		5,994,372
0.875% 1/31/18		12,500,000		12,336,425
0.875% 7/31/19		1,000,000		958,242
1.00% 8/31/16		4,000,000		4,032,968
1.00% 9/30/16		9,000,000		9,068,553
1.00% 10/31/16		5,250,000		5,288,147
1.00% 5/31/18		2,300,000		2,265,949
1.00% 11/30/19		3,500,000		3,353,983
1.125% 5/31/19		2,000,000		1,945,546
1.125% 4/30/20		17,000,000		16,264,223
1.25% 10/31/15		4,500,000		4,552,821
1.25% 11/30/18		3,000,000		2,958,984
1.25% 1/31/19		3,750,000		3,687,596
1.375% 11/30/15		7,500,000		7,602,390
1.375% 6/30/18		3,000,000		2,991,564
1.375% 7/31/18		35,000,000		34,861,925
1.375% 9/30/18		2,000,000		1,987,734
1.375% 11/30/18		3,000,000		2,975,157
1.375% 12/31/18		3,500,000		3,464,863
1.375% 1/31/20		20,000,000		19,488,280
1.50% 6/30/16		3,000,000		3,053,439
1.50% 7/31/16		5,000,000		5,089,455
1.50% 8/31/18		6,000,000		5,997,888
1.50% 12/31/18		12,300,000		12,239,459
1.625% 8/31/19		5,000,000		4,966,210
1.625% 11/15/22		6,750,000		6,380,856
1.75% 5/31/16		5,000,000		5,108,985
1.75% 10/31/18		2,000,000		2,014,688
1.75% 5/15/22		7,000,000		6,731,214
1.75% 5/15/23		25,000,000		23,699,225


	Principal Amount°		Value (U.S. $)

U.S. TREASURY OBLIGATIONS (continued)
U.S. Treasury Notes (continued)
1.875% 8/31/17		3,000,000	$	3,070,314
1.875% 9/30/17		2,000,000		2,045,000
1.875% 10/31/17		2,000,000		2,044,062
2.00% 1/31/16		4,500,000		4,603,536
2.00% 4/30/16		6,000,000		6,151,170
2.00% 8/31/21		5,000,000		4,932,615
2.00% 11/15/21		4,700,000		4,628,034
2.00% 2/15/22		8,000,000		7,858,752
2.00% 2/15/23		14,150,000		13,733,240
2.125% 12/31/15		5,000,000		5,117,580
2.125% 2/29/16		4,000,000		4,102,736
2.125% 8/31/20		19,000,000		19,103,911
2.125% 8/15/21		7,500,000		7,463,963
2.25% 3/31/16		3,000,000		3,084,960
2.25% 11/30/17		3,750,000		3,872,314
2.25% 7/31/18		3,000,000		3,086,601
2.375% 3/31/16		2,000,000		2,060,508
2.375% 7/31/17		2,000,000		2,074,766
2.375% 5/31/18		4,000,000		4,137,968
2.375% 6/30/18		3,000,000		3,101,718
2.375% 8/15/24		3,000,000		2,965,548
2.50% 6/30/17		1,900,000		1,978,153
2.50% 8/15/23		3,250,000		3,269,805
2.625% 2/29/16		2,000,000		2,065,704
2.625% 4/30/16		1,000,000		1,035,117
2.625% 1/31/18		2,000,000		2,088,438
2.625% 4/30/18		3,000,000		3,131,952
2.625% 8/15/20		6,000,000		6,204,138
2.625% 11/15/20		6,500,000		6,704,393
2.75% 11/30/16		2,500,000		2,610,547
2.75% 5/31/17		3,000,000		3,141,915
2.75% 12/31/17		2,000,000		2,096,094
2.75% 2/28/18		2,500,000		2,620,703
2.75% 2/15/19		5,000,000		5,233,790
2.75% 2/15/24		16,000,000		16,378,752
2.875% 3/31/18		3,000,000		3,157,734
3.00% 8/31/16		2,000,000		2,092,890
3.00% 9/30/16		2,000,000		2,095,000
3.00% 2/28/17		2,000,000		2,104,376
3.125% 10/31/16		2,500,000		2,627,833
3.125% 1/31/17		3,500,000		3,689,767
3.125% 4/30/17		2,500,000		2,641,700
3.125% 5/15/19		4,000,000		4,251,408
3.125% 5/15/21		3,500,000		3,709,591
3.25% 5/31/16		1,700,000		1,779,290
3.25% 6/30/16		1,500,000		1,572,305
3.25% 7/31/16		1,850,000		1,942,102
3.25% 12/31/16		2,500,000		2,639,647
3.25% 3/31/17		2,500,000		2,647,363
3.375% 11/15/19		6,500,000		6,999,941
3.50% 2/15/18		4,100,000		4,398,529
3.50% 5/15/20		4,000,000		4,336,248


	Principal Amount°		Value (U.S. $)

U.S. TREASURY OBLIGATIONS (continued)
U.S. Treasury Notes (continued)
3.625% 8/15/19		5,500,000	$	5,979,749
3.625% 2/15/20		6,000,000		6,542,112
3.625% 2/15/21		9,000,000		9,819,846
3.75% 11/15/18		3,630,000		3,948,050
3.875% 5/15/18		4,850,000		5,279,492
4.00% 8/15/18		5,550,000		6,082,456
4.25% 11/15/17		2,500,000		2,737,403
4.50% 11/15/15		7,000,000		7,338,653
4.50% 2/15/16		3,000,000		3,173,145
4.50% 5/15/17		1,350,000		1,474,822
4.625% 11/15/16		3,600,000		3,899,250
4.625% 2/15/17		1,700,000		1,852,735
4.75% 8/15/17		2,500,000		2,761,915
4.875% 8/15/16		2,000,000		2,160,546
5.125% 5/15/16		1,500,000		1,614,199
6.25% 8/15/23		1,600,000		2,094,750
7.125% 2/15/23		1,000,000		1,365,312
7.25% 5/15/16		1,000,000		1,110,117
7.25% 8/15/22		500,000		680,429
7.50% 11/15/16		800,000		915,250
7.625% 11/15/22		500,000		698,281
7.875% 2/15/21		750,000		1,011,827
8.00% 11/15/21		1,700,000		2,353,437
8.125% 8/15/19		750,000		975,000
8.125% 5/15/21		500,000		686,875
8.125% 8/15/21		700,000		969,063


	Principal Amount°		Value (U.S. $)

U.S. TREASURY OBLIGATIONS (continued)
U.S. Treasury Notes (continued)
8.50% 2/15/20		150,000	$	201,234
8.75% 5/15/17		1,000,000		1,204,062
8.75% 5/15/20		900,000		1,230,082
8.75% 8/15/20		800,000		1,101,938
8.875% 8/15/17		750,000		916,992
8.875% 2/15/19		750,000		981,650
9.125% 5/15/18		250,000		319,189
9.25% 2/15/16		200,000		224,559
9.875% 11/15/15		500,000		554,375


Total U.S. Treasury Obligations (Cost $806,683,565)				823,280,420


	Number of Shares

MONEY MARKET FUND–4.50%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		105,742,846		105,742,846


Total Money Market Fund (Cost $105,742,846)				105,742,846

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

DCOMMON STOCK–97.08%
Australia–3.26%
Asciano		1,191,441	$	6,311,155
Bendigo & Adelaide Bank		558,326		5,827,000
Incitec Pivot		2,093,978		4,968,466
Sonic Healthcare		358,884		5,511,434
Woodside Petroleum		158,815		5,645,449

				28,263,504

Austria–1.09%
OMV		126,617		4,261,333
Voestalpine		130,651		5,165,291

				9,426,624

Belgium–1.23%
Ageas		128,961		4,281,580
Belgacom		183,339		6,382,220

				10,663,800

Canada–2.45%
Agrium		58,825		5,229,823
Canadian Oil Sands		273,479		5,045,387
Suncor Energy		164,146		5,940,829
Teck Resources Class B		265,732		5,032,974

				21,249,013

Denmark–1.20%
A.P. Moller-Maersk Class B		2,394		5,686,991
TDC		621,357		4,719,127

				10,406,118

Finland–3.00%
Fortum		252,570		6,160,299
Metso		175,581		6,254,093
Nokian Renkaat		142,093		4,285,927
Stora Enso Class R		537,043		4,480,429
UPM-Kymmene		335,970		4,799,553

				25,980,301

France–7.94%
†Alstom		210,198		7,189,769
AXA		220,969		5,445,357
Bouygues		137,733		4,464,954
Cap Gemini		75,866		5,445,811
Casino Guichard Perrachon		48,255		5,197,282
GDF Suez		209,932		5,266,179
Orange		388,852		5,847,247
Renault		59,123		4,282,798
Rexel		222,021		4,143,423
Sanofi		55,071		6,229,810
SCOR SE		164,162		5,128,877
Total		87,566		5,690,607
Vinci		77,351		4,494,783

				68,826,897


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Germany–5.93%
Allianz		33,970	$	5,507,178
Bayerische Motoren Werke		45,503		4,886,511
Daimler		60,791		4,663,160
Deutsche Telekom		355,412		5,387,051
E.ON		293,787		5,378,839
Hannover Rueckversicherung		64,210		5,192,256
K+S		174,829		4,958,659
Muenchener Rueckversicherungs		26,288		5,198,144
RWE		141,492		5,514,361
Volkswagen		22,659		4,702,362

				51,388,521

nHong Kong–7.99%
BOC Hong Kong Holdings		2,015,500		6,424,287
Cheung Kong Holdings		346,000		5,699,196
Henderson Land Development		1,082,400		7,011,690
Hutchison Whampoa		433,771		5,251,160
Link REIT		1,167,500		6,728,478
MTR		1,552,500		6,078,160
New World Development		5,710,033		6,647,739
Sino Land		3,908,000		6,039,524
Sun Hung Kai Properties		469,153		6,652,253
Swire Pacific Class A		492,500		6,342,685
Wharf Holdings		898,000		6,383,845

				69,259,017

Israel–0.69%
Teva Pharmaceutical Industries		111,328		6,006,374

				6,006,374

Japan–31.52%
Aeon		508,800		5,066,426
Aisin Seiki		158,800		5,727,023
Bridgestone		161,700		5,340,605
Canon		185,400		6,036,299
Dai Nippon Printing		598,000		5,995,541
Daiichi Sankyo		340,400		5,341,981
Eisai		147,200		5,952,966
FUJIFILM Holdings		213,495		6,560,691
Hitachi		776,631		5,931,049
Honda Motor		162,800		5,641,180
Isuzu Motors		498,500		7,045,776
ITOCHU		490,500		5,993,434
Japan Tobacco		182,600		5,939,308
JFE Holdings		304,500		6,076,672
JX Holdings		1,190,300		5,486,679
Kirin Holdings		413,800		5,495,825
Kobe Steel		4,317,000		7,007,031
Komatsu		276,700		6,399,941
Konica Minolta Holdings		614,095		6,630,087
Kuraray		501,300		5,878,556
Kyocera		127,100		5,923,568
LIXIL Group		208,000		4,443,934


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Japan (continued)
Marubeni		853,600	$	5,844,006
Mitsubishi		308,700		6,322,347
Mitsubishi Chemical Holdings		1,378,500		6,782,826
Mitsubishi UFJ Financial Group		1,043,300		5,900,284
Mitsui		405,400		6,393,465
Mizuho Financial Group		2,900,400		5,181,128
MS&AD Insurance Group Holdings		250,300		5,460,655
Nippon Yusen		1,972,000		5,196,808
Nissan Motor		643,000		6,267,879
Otsuka Holdings		191,548		6,602,393
Resona Holdings		1,185,300		6,683,897
Ricoh		497,200		5,340,825
Sega Sammy Holdings		256,200		4,123,403
Seiko Epson		184,100		8,847,007
Sekisui Chemical		551,000		6,320,686
Sekisui House		461,900		5,441,798
Shionogi		309,100		7,091,557
Sumitomo		450,600		4,973,796
Sumitomo Metal Mining		456,000		6,420,134
Sumitomo Mitsui Financial Group		134,200		5,471,282
†Tokyo Electric Power		1,422,600		4,981,338
Toyota Motor		101,500		5,981,804
Toyota Tsusho		225,800		5,501,642
West Japan Railway		140,400		6,285,449

				273,330,981

Netherlands–2.52%
Aegon		640,707		5,286,197
Koninklijke Ahold		286,034		4,631,732
Koninklijke Boskalis Westminster		107,346		6,044,546
Royal Dutch Shell Class A		1,697		64,883
Royal Dutch Shell Class B		147,210		5,815,709

				21,843,067

Norway–2.09%
Orkla		673,682		6,092,162
Statoil		203,514		5,549,691
Yara International		129,958		6,525,409

				18,167,262

Portugal–0.62%
Energias de Portugal		1,236,501		5,396,103

				5,396,103

Singapore–2.48%
Keppel		663,000		5,457,218
Sembcorp Industries		1,316,000		5,343,848
Singapore Press Holdings		1,720,000		5,662,995
Wilmar International		2,088,000		5,057,751

				21,521,812

Spain–2.63%
Enagas		188,783		6,087,674


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Spain (continued)
Ferrovial		268,526	$	5,208,035
Iberdrola		836,049		5,987,596
Repsol		230,777		5,480,095

				22,763,400

Sweden–2.53%
Boliden		378,472		6,141,693
Ericsson Class B		432,174		5,485,946
Skanska Class B		244,327		5,055,088
TeliaSonera		763,376		5,280,931

				21,963,658

Switzerland–2.47%
Baloise Holding		45,632		5,855,465
Swiss Prime Site		67,542		5,016,213
Swiss Re		61,945		4,941,195
†Zurich Insurance Group		18,700		5,578,757

				21,391,630

United Kingdom–15.44%
Amlin		711,717		5,007,338
Anglo American		225,732		5,064,528
Antofagasta		412,517		4,821,553
AstraZeneca		88,867		6,398,527
BAE Systems		831,823		6,358,028
Barclays		1,476,536		5,444,272
Berkeley Group Holdings		131,563		4,798,727
BP		718,039		5,278,217
G4S		1,426,665		5,798,106
HSBC Holdings		567,160		5,756,508
Imperial Tobacco Group		142,192		6,140,718
Informa		652,080		5,169,155
J Sainsbury		1,090,387		4,445,580
Meggitt		718,103		5,252,495
Old Mutual		1,713,546		5,047,316
Pearson		324,159		6,516,127
Resolution		1,153,220		5,759,883
†Rsa Insurance Group		769,584		6,044,489
Standard Chartered		274,929		5,083,065
Tate & Lyle		516,231		4,950,039
Tesco		1,167,388		3,523,747
Vodafone Group		1,564,486		5,183,969
William Hill		1,010,498		6,057,761
WM Morrison Supermarkets		1,618,763		4,416,489
WPP		278,558		5,599,473

				133,916,110


Total Common Stock (Cost $803,823,411)				841,764,192

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

DCOMMON STOCK–96.38%
Brazil–7.03%
Banco do Brasil		614,926	$	6,396,999
BR Malls Participacoes		716,100		5,629,551
Cia De Saneamento Basico Do Estado De Sao Paulo ADR		664,500		5,389,095
Cia Energetica de Minas Gerais ADR		919,358		5,727,600
Cia Siderurgica Nacional		525,700		1,877,347
Cia Siderurgica Nacional ADR		899,153		3,191,993
Cyrela Brazil Realty		1,026,400		5,179,390
Petroleo Brasileiro ADR		444,250		6,614,884
Vale ADR		469,654		4,560,340

				44,567,199

Czech Republic–1.04%
CEZ		216,581		6,587,183

				6,587,183

¡Hong Kong–30.40%
Agricultural Bank of China		14,260,000		6,317,495
Bank of China		14,011,100		6,279,404
Bank of Communications		9,506,000		6,623,111
Belle International Holdings		6,235,000		7,009,994
China CITIC Bank		10,782,000		6,540,142
China Coal Energy		11,029,000		6,448,503
China Communications Construction		8,909,000		6,425,160
China Construction Bank		8,876,000		6,218,464
China Merchants Bank		3,428,000		5,862,810
China Merchants Holdings
International		1,808,934		5,591,147
China Minsheng Banking		7,434,000		6,797,478
China Mobile		679,000		7,848,220
China National Building Material		6,196,000		5,617,602
China Railway Construction		7,377,000		6,707,357
China Railway Group		13,405,000		7,112,642
China Resources Enterprise		2,200,000		5,207,570
China Shenhua Energy		2,151,500		5,998,825
China Telecom		13,426,000		8,230,392
CITIC Pacific		3,503,000		5,846,717
CNOOC		4,134,000		7,091,557
COSCO Pacific		4,887,710		6,483,501
Country Garden Holdings		14,876,000		5,613,332
Dongfeng Motor Group		4,390,000		7,214,099
Evergrande Real Estate Group		13,169,000		4,952,250
Geely Automobile Holdings		15,800,000		6,613,135
Industrial & Commercial Bank of China		10,104,000		6,298,043
Jiangxi Copper		3,696,000		6,083,167
Shanghai Industrial Holdings		1,872,000		5,544,988
Shimao Property Holdings		2,835,000		5,739,480
Sinopharm Group		2,268,000		8,295,228

				192,611,813


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Hungary–0.88%
Richter Gedeon		356,276	$	5,575,184

				5,575,184

India–3.35%
Hindalco Industries		2,617,823		6,624,859
NTPC		3,094,882		6,950,244
State Bank of India		193,501		7,640,384

				21,215,487

Indonesia–0.88%
Indofood Sukses Makmur		9,669,000		5,554,616

				5,554,616

Malaysia–2.07%
IOI		4,227,000		6,198,741
UMW Holdings		1,847,900		6,907,090

				13,105,831

Mexico–1.91%
Coca-Cola Femsa		590,200		5,952,993
Fomento Economico Mexicano ADR		66,735		6,142,957

				12,095,950

Poland–2.95%
KGHM Polska Miedz		172,387		6,586,214
PGE		993,280		6,290,873
Tauron Polska Energia		3,575,809		5,799,485

				18,676,572

Republic of Korea–15.54%
CJ CheilJedang		23,138		8,498,957
DGB Financial Group		431,203		6,866,876
Hyundai Motor		26,456		4,777,352
Hyundai Steel		96,520		6,788,743
Industrial Bank of Korea		491,890		7,436,983
Kia Motors		111,982		5,700,207
KT&G		83,007		7,435,577
LG		114,690		8,349,393
Lotte Shopping		19,823		5,937,787
POSCO		22,434		6,985,705
Samsung Electro-Mechanics		95,823		4,496,174
Samsung Electronics		4,945		5,549,912
Samsung Heavy Industries		208,490		4,990,163
SK Holdings		34,407		6,147,893
SK Telecom		30,815		8,470,875

				98,432,597

Russia–5.37%
@Gazprom ADR		805,635		5,671,670
LUKOIL ADR		111,391		5,680,941
@Rosneft GDR		930,912		5,424,424
Rostelecom ADR		435,887		6,974,192
Sberbank of Russia ADR		630,832		4,996,189


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Russia (continued)
VTB Bank GDR		2,756,650	$	5,302,141

				34,049,557

South Africa–6.18%
AVI		1,160,724		7,189,406
Foschini Group		609,905		6,333,980
Imperial Holdings		346,691		5,343,845
Investec		770,289		6,476,808
Netcare		2,799,971		7,842,688
Spar Group		537,782		5,984,304

				39,171,031

Taiwan–10.81%
Asustek Computer		630,000		6,005,917
Lite-On Technology		4,205,957		6,062,827
Mega Financial Holding		8,050,000		6,602,482
Pegatron		4,189,000		7,711,506
Pou Chen		4,423,000		4,914,444
Radiant Opto-Electronics		1,545,000		6,120,069
Synnex Technology International		3,877,000		5,352,860
Taiwan Fertilizer		2,978,000		4,924,175
Uni-President Enterprises		3,800,040		6,595,730
Wistron		7,735,723		7,895,930
WPG Holdings		5,169,000		6,321,065

				68,507,005

Thailand–3.19%
Bangkok Bank NVDR		1,129,200		7,102,106
Krung Thai Bank NVDR		10,778,700		7,875,912
PTT Global Chemical NVDR		2,789,770		5,246,677

				20,224,695

Turkey–4.78%
Emlak Konut Gayrimenkul Yatirim Ortakligi REIT		5,274,438		5,513,996


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Turkey (continued)
KOC Holding		1,473,568	$	6,796,303
†Turk Hava Yollari		2,016,932		5,732,035
Turkiye Halk Bankasi		1,003,138		6,036,629
Turkiye Is Bankasi Class C		2,798,228		6,219,377

				30,298,340


Total Common Stock (Cost $603,205,129)				610,673,060


PREFERRED STOCK–2.51%
Brazil–2.51%
Bradespar 8.33%		712,400		5,210,411
Metalurgica Gerdau 3.07%		805,300		4,685,573
Telefonica Brasil 7.71%		291,864		5,748,077
Vale 7.64%		24,900		241,939


Total Preferred Stock (Cost $20,813,902)				15,886,000


RIGHT–0.01%
Country Garden Holdings exercise price HKD 2.50, expiration date 10/16/14		991,733		56,197


Total Right (Cost $0)				56,197


MONEY MARKET FUND–0.67%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		4,234,139		4,234,139


Total Money Market Fund (Cost $4,234,139)				4,234,139

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

COMMON STOCK–97.22%
Aerospace & Defense–3.93%
General Dynamics		109,974	$	13,976,596
L-3 Communications Holdings		101,294		12,045,882
Northrop Grumman		97,037		12,785,595
Raytheon		121,225		12,318,885

				51,126,958

Auto Components–2.00%
Johnson Controls		253,026		11,133,144
†TRW Automotive Holdings		146,679		14,851,249

				25,984,393

Automobiles–0.87%
Ford Motor		767,493		11,351,221

				11,351,221

Banks–3.58%
Fifth Third Bancorp		521,689		10,444,214
JPMorgan Chase		197,209		11,879,870
PNC Financial Services Group		137,591		11,775,038
Wells Fargo		240,716		12,485,939

				46,585,061

Beverages–2.25%
Dr Pepper Snapple Group		219,851		14,138,618
Molson Coors Brewing Class B		203,408		15,141,691

				29,280,309

Capital Markets–1.03%
Goldman Sachs Group		73,052		13,410,156

				13,410,156

Chemicals–1.81%
Dow Chemical		246,422		12,922,370
Mosaic		239,489		10,635,706

				23,558,076

Commercial Services & Supplies–2.09%
Republic Services		350,560		13,678,851
Waste Management		284,626		13,528,274

				27,207,125

Communications Equipment–1.04%
Cisco Systems		534,278		13,447,777

				13,447,777

Consumer Finance–0.97%
Capital One Financial		155,181		12,665,873

				12,665,873

Containers & Packaging–0.83%
Rock-Tenn Class A		226,916		10,796,663

				10,796,663


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Distributors–0.93%
Genuine Parts		137,883	$	12,093,718

				12,093,718

Diversified Financial Services–0.78%
Leucadia National		427,608		10,194,175

				10,194,175

Diversified Telecommunication Services–1.15%
CenturyLink		364,562		14,906,940

				14,906,940

Electric Utilities–3.90%
American Electric Power		236,384		12,341,609
Duke Energy		168,171		12,574,146
Entergy		179,107		13,850,344
PPL		361,343		11,866,504

				50,632,603

Electrical Equipment–0.78%
Eaton		159,389		10,100,481

				10,100,481

Electronic Equipment, Instruments & Components–0.86%
Corning		575,098		11,122,395

				11,122,395

Food & Staples Retailing–0.92%
Wal-Mart Stores		156,641		11,978,337

				11,978,337

Food Products–3.93%
Archer-Daniels-Midland		275,928		14,099,921
ConAgra Foods		385,907		12,750,367
Kraft Foods Group		213,416		12,036,662
Smucker (J.M.)		123,161		12,191,707

				51,078,657

Health Care Equipment & Supplies–1.92%
Abbott Laboratories		310,959		12,932,785
Medtronic		194,529		12,051,072

				24,983,857

Health Care Providers & Services–8.26%
Aetna		159,662		12,932,622
Cardinal Health		171,062		12,815,965
Cigna		143,027		12,971,119
Humana		106,266		13,845,397
Quest Diagnostics		206,773		12,546,986
UnitedHealth Group		146,084		12,599,745
Universal Health Services Class B		145,897		15,246,237
WellPoint		120,252		14,384,544

				107,342,615


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Hotels, Restaurants & Leisure–0.98%
Carnival		316,232	$	12,703,039

				12,703,039

Household Durables–1.96%
Newell Rubbermaid		400,406		13,777,970
Whirlpool		80,102		11,666,856

				25,444,826

Industrial Conglomerates–0.91%
General Electric		462,440		11,847,713

				11,847,713

Insurance–6.73%
ACE		120,835		12,671,966
American International Group		239,441		12,934,603
Cincinnati Financial		246,073		11,577,735
Everest Re Group		78,265		12,679,713
Travelers		140,686		13,216,043
Unum Group		339,079		11,657,536
XL Group		383,169		12,709,716

				87,447,312

IT Services–2.01%
Computer Sciences		196,910		12,041,047
Xerox		1,059,590		14,018,376

				26,059,423

Leisure Products–0.70%
Mattel		298,567		9,151,078

				9,151,078

Machinery–1.74%
Deere		131,901		10,814,563
Dover		146,486		11,767,220

				22,581,783

Media–4.02%
Comcast Class A		239,338		12,871,598
Interpublic Group		698,551		12,797,454
†Liberty Global Class A		287,873		12,246,117
†Time		22,959		537,929
Time Warner		183,274		13,784,038

				52,237,136

Metals & Mining–1.82%
Freeport-McMoRan Copper & Gold		362,024		11,820,084
Newmont Mining		510,854		11,775,185

				23,595,269

Multiline Retail–1.94%
Kohl’s		210,781		12,863,964
Target		197,901		12,404,435

				25,268,399


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Multi-Utilities–0.97%
Consolidated Edison		223,195	$	12,646,229

				12,646,229

Oil, Gas & Consumable Fuels–7.56%
Apache		144,394		13,554,265
Chesapeake Energy		467,396		10,745,434
Chevron		100,688		12,014,092
ConocoPhillips		170,181		13,022,250
Hess		144,460		13,625,467
HollyFrontier		251,614		10,990,499
Marathon Oil		337,142		12,673,168
Murphy Oil		190,490		10,840,786
†Seventy Seven Energy		33,335		791,373

				98,257,334

Pharmaceuticals–1.86%
Lilly (Eli)		203,433		13,192,630
Pfizer		372,742		11,021,981

				24,214,611

Real Estate Investment Trusts–1.81%
American Capital Agency		557,199		11,840,479
Annaly Capital Management		1,091,526		11,657,498

				23,497,977

Road & Rail–2.08%
CSX		413,326		13,251,232
Norfolk Southern		123,223		13,751,687

				27,002,919

Semiconductors & Semiconductor Equipment–4.32%
Broadcom Class A		380,379		15,374,919
Intel		463,875		16,152,127
KLA-Tencor		173,207		13,645,247
Maxim Integrated Products		361,536		10,932,849

				56,105,142

Software–3.89%
Activision Blizzard		585,788		12,178,532
CA		386,575		10,800,905
Microsoft		292,153		13,544,213
Symantec		599,547		14,095,350

				50,619,000

Specialty Retail–2.15%
Best Buy		453,383		15,229,135
Staples		1,055,882		12,776,172

				28,005,307

Technology Hardware, Storage & Peripherals–2.22%
Apple		156,180		15,735,135
Hewlett-Packard		370,031		13,125,000

				28,860,135


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Textiles, Apparel & Luxury Goods–0.66%
Coach		241,121	$	8,586,319

				8,586,319

Thrifts & Mortgage Finance–0.91%
New York Community Bancorp		745,109		11,824,880

				11,824,880

Tobacco–2.15%
Altria Group		319,936		14,697,860
Reynolds American		224,111		13,222,549

				27,920,409


Total Common Stock (Cost $1,051,409,907)				1,263,723,630


MONEY MARKET FUND–2.34%
Dreyfus Treasury & Agency Cash
Management Fund - Institutional Shares		30,497,442		30,497,442


Total Money Market Fund (Cost $30,497,442)				30,497,442

The use of futures contracts involves elements of market risk and risks in excess of the amount recognized in the financial statements. The notional value presented above represents the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–97.56%
Aerospace & Defense–1.33%
AAR		42,110	$	1,016,957
Exelis		56,809		939,621
National Presto Industries		13,953		847,087

				2,803,665


Air Freight & Logistics–0.49%
†Atlas Air Worldwide Holdings		30,972		1,022,695

				1,022,695


Airlines–0.31%
SkyWest		84,751		659,363

				659,363


Auto Components–1.06%
Cooper Tire & Rubber		44,939		1,289,749
Superior Industries International		53,250		933,473

				2,223,222


Banks–0.91%
First Niagara Financial Group		115,771		964,372
Susquehanna Bancshares		94,100		941,000

				1,905,372


Capital Markets–7.09%
Apollo Investment		131,599		1,075,164
Arlington Asset Investment Class A		41,283		1,049,001
Fidus Investment		56,476		932,419
Gladstone Capital		108,303		949,817
Gladstone Investment		132,112		939,316
Golub Capital		61,166		975,598
MCG Capital		288,462		1,015,386
Medallion Financial		82,705		964,340
Medley Capital		78,713		929,601
New Mountain Finance		75,174		1,104,306
Prospect Capital		101,234		1,002,217
Solar Capital		49,214		919,318
Solar Senior Capital		63,909		983,560
TCP Capital		66,095		1,062,147
TICC Capital		111,816		987,335

				14,889,525


Chemicals–0.88%
Axiall		24,246		868,249
Olin		38,834		980,559

				1,848,808


Commercial Services & Supplies–3.36%
ABM Industries		38,085		978,404
ADT		36,466		1,293,084
Brady Class A		40,278		903,838
Ennis		66,083		870,313
McGrath RentCorp		30,764		1,052,129
Quad Graphics		46,576		896,588
United Stationers		26,664		1,001,766


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Commercial Services & Supplies (continued)
†Vectrus		3,156	$	61,638

				7,057,760


Communications Equipment–3.16%
Black Box		44,913		1,047,371
Comtech Telecommunications		34,310		1,274,617
InterDigital		32,503		1,294,269
†NETGEAR		32,460		1,014,375
Plantronics		24,536		1,172,330
Tessco Technologies		28,951		839,289

				6,642,251


Construction & Engineering–1.00%
KBR		40,211		757,173
URS		23,164		1,334,478

				2,091,651


Containers & Packaging–1.43%
Bemis		27,845		1,058,667
Greif Class A		20,762		909,583
Sonoco Products		26,606		1,045,350

				3,013,600


Diversified Telecommunication Services–1.20%
Frontier Communications		191,686		1,247,876
†Iridium Communications		143,750		1,272,188

				2,520,064


Electric Utilities–1.53%
Empire District Electric		44,185		1,067,068
Pinnacle West Capital		19,962		1,090,724
Westar Energy		31,007		1,057,959

				3,215,751


Electrical Equipment–1.57%
Global Power Equipment Group		55,054		820,305
Powell Industries		16,615		678,889
Preformed Line Products		15,978		842,999
Regal-Beloit		14,997		963,557

				3,305,750


Electronic Equipment, Instruments & Components–3.80%
Avnet		23,523		976,205
AVX		82,929		1,101,297
†Fabrinet		52,567		767,478
Jabil Circuit		60,501		1,220,305
Park Electrochemical		36,213		852,816
†Synnex		17,730		1,145,890
†TTM Technologies		127,699		869,630
Vishay Intertechnology		73,425		1,049,243

				7,982,864


Energy Equipment & Services–2.04%
Bristow Group		14,450		971,040


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Energy Equipment & Services (continued)
Diamond Offshore Drilling		22,018	$	754,557
†Hercules Offshore		233,484		513,665
Superior Energy Services		35,528		1,167,805
Tidewater		22,503		878,292

				4,285,359


Food & Staples Retailing–1.57%
Ingles Markets Class A		45,195		1,070,670
Roundy’s		154,414		461,698
SpartanNash		46,566		905,709
Weis Markets		22,243		868,144

				3,306,221


Food Products–1.18%
Fresh Del Monte Produce		39,676		1,265,664
Ingredion		16,053		1,216,657

				2,482,321


Health Care Equipment & Supplies–5.18%
Analogic		13,112		838,644
CONMED		25,194		928,147
Cooper		7,867		1,225,285
CryoLife		108,074		1,066,690
DENTSPLY International		23,679		1,079,762
Hill-Rom Holdings		28,310		1,172,883
ResMed		24,113		1,188,048
STERIS		22,561		1,217,392
†Symmetry Medical		108,074		1,090,467
Teleflex		10,150		1,066,156

				10,873,474


Health Care Providers & Services–7.59%
Chemed		12,019		1,236,755
Ensign Group		24,525		853,470
†IPC The Hospitalist		21,870		979,557
Kindred Healthcare		46,748		906,911
†LHC Group		49,536		1,149,235
†Magellan Health Services		18,121		991,762
†Molina Healthcare		29,068		1,229,576
Omnicare		18,012		1,121,427
Owens & Minor		31,132		1,019,262
Patterson		26,166		1,084,057
†Providence Service		38,630		1,868,919
Select Medical Holdings		87,238		1,049,473
†Triple-S Management Class B		67,647		1,346,175
U.S. Physical Therapy		31,600		1,118,324

				15,954,903


Hotels, Restaurants & Leisure–1.11%
International Game Technology		77,656		1,310,057
Marcus		64,428		1,017,962

				2,328,019


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Household Durables–2.80%
CSS Industries		39,998	$	969,951
D.R.Horton		50,527		1,036,814
MDC Holdings		38,570		976,592
NACCO Industries Class A		19,843		986,792
PulteGroup		56,847		1,003,918
Ryland Group		27,355		909,280

				5,883,347


Insurance–3.07%
Endurance Specialty Holdings		20,240		1,116,843
Horace Mann Educators		37,601		1,072,004
Meadowbrook Insurance Group		184,565		1,079,705
Old Republic International		66,710		952,619
Safety Insurance Group		20,261		1,092,271
Validus Holdings		29,037		1,136,508

				6,449,950


Internet & Catalog Retail–0.53%
PetMed Express		81,546		1,109,026

				1,109,026


Internet Software & Services–1.32%
EarthLink Holdings		299,927		1,025,750
j2 Global		21,766		1,074,370
†QuinStreet		163,776		679,670

				2,779,790


IT Services–3.22%
Computer Task Group		63,037		699,711
Convergys		49,062		874,285
CSG Systems International		42,012		1,104,075
DST Systems		11,476		963,066
†Global Cash Access Holdings		158,704		1,071,252
Leidos Holdings		30,945		1,062,342
ManTech International Class A		37,077		999,225

				6,773,956


Life Sciences Tools & Services–0.50%
PerkinElmer		24,172		1,053,899

				1,053,899


Machinery–2.82%
AGCO		19,848		902,290
Briggs & Stratton		49,207		886,710
Joy Global		18,856		1,028,406
Kadant		29,878		1,166,736
Kennametal		24,609		1,016,598
Miller Industries		54,892		927,675

				5,928,415


Media–2.87%
Cinemark Holdings		37,687		1,282,865
Gannett		38,990		1,156,833
Harte-Hanks		123,020		783,637


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Media (continued)
Meredith		23,564	$	1,008,539
Scholastic		31,669		1,023,542
Spok Holdings		60,269		784,100

				6,039,516


Metals & Mining–2.41%
Cliffs Natural Resources		52,037		540,144
Kaiser Aluminum		15,307		1,166,700
Reliance Steel & Aluminum		15,421		1,054,796
Schnitzer Steel Industries		37,854		910,389
Steel Dynamics		61,376		1,387,711

				5,059,740


Multiline Retail–0.61%
Dillard’s Class A		11,833		1,289,560

				1,289,560


Multi-Utilities–1.07%
Integrys Energy Group		18,243		1,182,511
SCANA		21,260		1,054,709

				2,237,220


Oil, Gas & Consumable Fuels–3.39%
CVR Energy		25,442		1,138,021
Delek U.S. Holdings		37,607		1,245,544
Denbury Resources		66,732		1,002,982
Energy XXI Bermuda		45,413		515,438
†Halcon Resources		248,588		984,408
†Renewable Energy Group		90,343		916,981
Tesoro		21,609		1,317,717

				7,121,091


Paper & Forest Products–0.50%
Schweitzer-Mauduit International		25,652		1,059,684

				1,059,684


Pharmaceuticals–0.62%
†Prestige Brands Holdings		40,100		1,298,037


				1,298,037


Professional Services–0.79%
CDI		63,756		925,737
Kelly Services Class A		46,202		723,985

				1,649,722


Real Estate Investment Trusts–9.76%
Anworth Mortgage Asset		220,428		1,055,850
Apollo Commercial Real Estate Finance		64,661		1,015,824
Ares Commercial Real Estate		81,466		952,338
ARMOUR Residential REIT		265,397		1,021,778
Capstead Mortgage		86,399		1,057,524
†CareTrust REIT		24,025		343,557
Chimera Investment		357,181		1,085,830


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Real Estate Investment Trusts (continued)
Colony Financial		49,819	$	1,114,949
Dynex Capital		122,199		987,368
Invesco Mortgage Capital		66,350		1,043,022
JAVELIN Mortgage Investment		81,586		979,848
MFA Financial		141,068		1,097,509
New Residential Investment		168,983		985,171
New York Mortgage Trust		140,490		1,015,743
PennyMac Mortgage Investment Trust		44,813		960,343
Redwood Trust		53,968		894,789
Resource Capital		196,361		956,278
Select Income REIT		36,050		867,003
Starwood Property Trust		45,610		1,001,596
Two Harbors Investment		106,634		1,031,151
Western Asset Mortgage Capital		69,893		1,033,019

				20,500,490


Semiconductors & Semiconductor Equipment–2.79%
Brooks Automation		100,040		1,051,420
†First Solar		15,662		1,030,716
Marvell Technology Group		69,450		936,186
MKS Instruments		36,575		1,220,874
†OmniVision Technologies		61,662		1,631,577

				5,870,773


Software–2.11%
Compuware		104,048		1,103,949
Ebix		64,132		909,392
Epiq Systems		80,085		1,406,293
Mentor Graphics		49,627		1,017,105

				4,436,739


Specialty Retail–5.87%
American Eagle Outfitters		89,276		1,296,288
Big 5 Sporting Goods		67,102		628,746
Cato Class A		40,350		1,390,461
Chico’s FAS		68,222		1,007,639
†Citi Trends		67,044		1,481,672
Destination Maternity		40,033		618,110
GameStop Class A		26,522		1,092,706
Group 1 Automotive		16,433		1,194,843
Guess		38,810		852,656
Rent-A-Center		41,096		1,247,264
†Sears Hometown and Outlet Stores		45,299		702,135
Shoe Carnival		46,550		829,056

				12,341,576


Technology Hardware, Storage & Peripherals–0.48%
Lexmark International Class A		23,656		1,005,380

				1,005,380


Thrifts & Mortgage Finance–0.50%
Home Loan Servicing Solutions		49,815		1,055,580

				1,055,580


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Tobacco–0.41%
Universal		19,512	$	866,138


				866,138


Trading Companies & Distributors–1.33%
Aircastle		55,289		904,528
†CAI International		43,473		841,203
TAL International Group		25,497		1,051,751

				2,797,482


Total Common Stock (Cost $204,639,680)				205,019,749


MONEY MARKET FUND–1.69%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		3,549,615		3,549,615

Total Money Market Fund (Cost $3,549,615)				3,549,615

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

AFFILIATED INVESTMENT COMPANIES–56.21%
Equity Funds–24.69%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Large Cap 100 Fund		8,910,723	$	139,452,807
LVIP SSgA S&P 500 Index Fund		5,213,791		74,593,713
LVIP SSgA Small-Cap Index Fund		357,976		8,929,707
LVIP SSgA Small-Mid Cap 200 Fund		1,268,017		18,406,542

				241,382,769

Fixed Income Fund–14.53%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Bond Index Fund		12,415,433		142,069,801

				142,069,801

International Equity Funds–16.99%
*Lincoln Variable Insurance Products Trust–
LVIP SSgA Developed International 150 Fund		9,425,410		92,849,710
LVIP SSgA Emerging Markets 100 Fund		1,809,456		17,739,905
LVIP SSgA International Index Fund		5,990,524		55,592,064

				166,181,679


Total Affiliated Investment Companies (Cost $465,893,623)				549,634,249


UNAFFILIATED INVESTMENT COMPANIES–43.93%
Commodity Fund–0.83%
†SPDR^® Gold Shares ETF		69,593		8,087,402

				8,087,402

Equity Funds–13.84%
Financial Select Sector SPDR^® Fund		808,610		18,735,494
Health Care Select Sector SPDR^® Fund		300,268		19,190,128


	Number of Shares		Value (U.S. $)

UNAFFILIATED INVESTMENT COMPANIES (continued)
Equity Funds (continued)
SPDR^® Dow Jones REIT ETF		287,446	$	22,938,191
SPDR^® S&P 500 ETF		235,600		46,417,912
SPDR^® S&P 600 Small Cap ETF		95,835		9,416,747
Technology Select Sector SPDR^® Fund		467,745		18,667,703

				135,366,175

Fixed Income Funds–14.82%
iShares iBoxx Investment Grade Corporate Bond Fund		221,737		26,213,748
SPDR^® Barclays Capital Aggregate Bond ETF		575,484		33,205,427
SPDR^® Barclays Capital TIPS ETF		1,104,561		61,601,367
SPDR^® DB International Government Inflation-Protected Bond ETF		77,453		4,548,815
Vanguard Long-Term Bond ETF		214,351		19,340,891

				144,910,248

International Equity Funds–9.59%
SPDR^® S&P Emerging Markets ETF		565,229		37,655,556
SPDR^® S&P World ex-US ETF		1,976,593		56,075,943

				93,731,499

Money Market Fund–4.85%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		47,417,039		47,417,039

				47,417,039


Total Unaffiliated Investment Companies (Cost $414,842,523)				429,512,363

The use of futures contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The notional value presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

DCOMMON STOCK–95.00%
Australia–7.13%
AGL Energy		100,176	$	1,187,581
ALS		56,343		259,975
†Alumina		445,290		660,836
Amcor		176,143		1,747,335
AMP		423,319		2,023,678
APA Group		128,424		836,566
Asciano		155,556		823,992
ASX		26,028		817,207
Aurizon Holdings		307,648		1,220,206
AusNet Services		237,135		283,406
Australia & New Zealand Banking Group		429,122		11,617,192
Bank of Queensland		52,539		535,446
Bendigo & Adelaide Bank		71,335		744,491
BHP Billiton		501,439		14,870,111
Boral		130,004		565,710
Brambles		240,298		2,002,940
Caltex Australia		18,644		456,902
CFS Retail Property Trust Group		305,695		533,964
Coca-Cola Amatil		75,157		577,757
Cochlear		8,574		521,809
Commonwealth Bank of Australia		252,940		16,673,844
Computershare		66,078		703,512
Crown		59,112		714,226
CSL		73,300		4,760,068
Dexus Property Group		871,371		846,851
Federation Centres		245,337		554,196
Flight Centre		8,399		314,373
Fortescue Metals Group		210,154		640,321
Goodman Group		262,620		1,188,774
GPT Group		277,959		941,830
†@=GPT Group In-Specie		160,069		0
Harvey Norman Holdings		107,647		342,129
Iluka Resources		71,132		489,518
Incitec Pivot		278,070		659,788
Insurance Australia Group		343,810		1,842,260
Leighton Holdings		17,957		303,439
Lend Lease Group		78,442		984,870
Macquarie Group		43,606		2,198,742
Metcash		102,816		236,754
Mirvac Group		599,563		902,909
National Australia Bank		368,429		10,496,688
†Newcrest Mining		120,681		1,114,737
Orica		57,826		956,899
Origin Energy		180,801		2,369,756
†Qantas Airways		92,082		112,065
QBE Insurance Group		194,626		1,986,920
Ramsay Health Care		21,099		925,324
REA Group		6,506		246,537
Rio Tinto		65,602		3,422,146
Santos		138,887		1,662,306
†Scentre Group		772,010		2,217,061


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Australia (continued)
Seek		55,169	$	782,995
Sonic Healthcare		60,784		933,469
Stockland		354,050		1,224,454
Suncorp Group		207,166		2,546,634
Sydney Airport		151,621		566,850
TABCORP Holdings		145,774		460,753
Tatts Group		238,660		658,220
Telstra		651,257		3,022,102
Toll Holdings		118,261		583,985
TPG Telecom		40,572		242,976
Transurban Group		261,082		1,764,717
Treasury Wine Estates		75,416		279,969
Wesfarmers		179,935		6,641,974
†Westfield		283,484		1,849,123
Westpac Banking		485,610		13,665,150
Woodside Petroleum		109,873		3,905,691
Woolworths		198,185		5,941,354
WorleyParsons		29,413		395,044

				148,561,407

Austria–0.20%
Andritz		9,058		483,046
Erste Group Bank		38,857		890,071
=IMMOEAST		13,053		0
†IMMOFINANZ		155,075		440,132
OMV		22,930		771,716
Raiffeisen Bank International		19,247		418,633
Telekom Austria		27,172		244,880
Vienna Insurance Group		5,870		265,102
Voestalpine		18,078		714,714

				4,228,294

Belgium–1.18%
Ageas		31,642		1,050,533
Anheuser-Busch InBev		122,688		13,655,710
*=Anheuser-Busch InBev VVPR Strip		1,896		0
Belgacom		23,376		813,743
Colruyt		11,778		518,977
Delhaize Group		16,207		1,127,546
Groupe Bruxelles Lambert		12,382		1,134,817
†KBC Groep		38,933		2,073,517
Solvay Class A		8,853		1,363,113
†Telenet Group Holding		7,983		458,791
UCB		19,290		1,751,370
Umicore		15,771		689,941

				24,638,058

^¨China–0.01%
Yangzijiang Shipbuilding Holdings		294,000		271,955

				271,955

Denmark–1.50%
A.P. Moller-Maersk Class A		643		1,485,999


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Denmark (continued)
A.P. Moller-Maersk Class B		1,155	$	2,743,724
Carlsberg Class B		15,037		1,336,974
Coloplast Class B		16,702		1,399,993
Danske Bank		105,992		2,881,151
DSV		28,607		805,769
Novo Nordisk Class B		315,394		15,091,518
Novozymes Class B		33,878		1,469,870
Pandora		16,838		1,320,252
TDC		125,600		953,916
Tryg		2,515		261,168
†Vestas Wind Systems		32,721		1,279,203
†William Demant Holding		3,899		299,101

				31,328,638

Finland–0.83%
Elisa		21,162		561,859
Fortum		63,643		1,552,282
Kone Class B		48,092		1,932,906
Metso		16,203		577,141
Neste Oil		23,689		487,722
Nokia		567,960		4,845,971
Nokian Renkaat		19,229		580,001
Orion Class B		16,843		659,506
Sampo Class A		68,952		3,344,382
Stora Enso Class R		87,244		727,857
UPM-Kymmene		77,293		1,104,182
Wartsila		21,602		966,725

				17,340,534

France–9.31%
Accor		28,706		1,273,219
Aeroports de Paris		4,250		508,742
Air Liquide		53,185		6,487,377
†Alcatel-Lucent		458,117		1,421,737
†Alstom		34,453		1,178,456
Arkema		8,251		553,608
AtoS		13,576		983,772
AXA		280,099		6,902,502
BIC		3,961		510,820
BNP Paribas		165,503		10,979,140
Bollore		796		452,241
Bouygues		30,962		1,003,709
Bureau Veritas		34,457		761,429
Cap Gemini		23,724		1,702,955
Carrefour		98,050		3,029,296
Casino Guichard Perrachon		8,803		948,123
Christian Dior		8,860		1,485,054
Cie de Saint-Gobain		70,953		3,247,407
Cie Generale d’Optique Essilor International		32,537		3,573,015
CNP Assurances		27,678		521,255
Credit Agricole		159,048		2,399,673


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
France (continued)
Danone		89,513	$	5,992,385
Dassault Systemes		20,356		1,307,695
EADS		91,087		5,731,890
Edenred		30,126		743,349
EDF		37,423		1,227,576
Eurazeo		5,472		393,828
Eutelsat Communications		25,475		822,617
Fonciere Des Regions		4,115		370,853
GDF Suez		224,469		5,630,842
Gecina		5,042		660,737
Groupe Eurotunnel		75,374		920,822
ICADE		5,292		446,312
Iliad		4,074		862,448
Imerys		4,249		313,320
JCDecaux		10,481		330,898
Kering		12,007		2,421,259
Klepierre		15,148		663,356
Lafarge		30,354		2,186,155
Lagardere		18,306		489,962
Legrand		42,211		2,196,382
L’Oreal		38,871		6,171,613
LVMH Moet Hennessy Louis Vuitton		43,118		7,009,304
Michelin Class B		29,874		2,817,964
Natixis		139,655		961,018
Orange		289,301		4,350,278
Pernod-Ricard		33,190		3,757,914
†Peugeot		57,534		737,976
Publicis Groupe		29,480		2,024,531
Remy Cointreau		2,948		212,246
Renault		31,128		2,254,874
Rexel		39,344		734,250
Safran		43,560		2,826,960
Sanofi		181,480		20,529,604
Schneider Electric		80,557		6,186,494
SCOR		22,969		717,615
Societe Generale		111,528		5,694,006
Sodexo		15,633		1,529,923
Suez Environnement		42,800		724,143
Technip		15,436		1,298,709
Thales		13,652		727,259
Total		327,256		21,267,220
Unibail-Rodamco		15,239		3,920,895
Valeo		11,507		1,280,634
Vallourec		18,537		852,507
Veolia Environnement		69,734		1,231,373
Vinci		72,411		4,207,725
Vivendi		191,662		4,628,728
Wendel		4,409		499,874
Zodiac Aerospace		31,381		1,001,041

				193,792,894


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Germany–7.78%
Adidas		33,182	$	2,483,297
Allianz		70,079		11,361,129
Axel Springer		6,481		356,834
BASF		140,810		12,917,762
Bayer		126,623		17,737,070
Bayerische Motoren Werke		51,263		5,505,070
Beiersdorf		14,282		1,193,139
Brenntag		23,307		1,145,474
Celesio		9,059		301,393
†Commerzbank		149,543		2,236,431
Continental		17,220		3,276,725
Daimler		147,795		11,337,068
Deutsche Bank		212,891		7,468,770
Deutsche Boerse		29,634		1,996,179
Deutsche Lufthansa		29,595		467,455
Deutsche Post		150,387		4,822,927
Deutsche Telekom		480,590		7,284,399
Deutsche Wohnen		46,841		1,001,070
E.ON		310,102		5,677,544
Fraport		6,547		430,511
Fresenius		56,538		2,799,038
Fresenius Medical Care		33,160		2,316,207
GEA Group		26,704		1,165,197
Hannover Rueckversicherung		9,135		738,690
HeidelbergCement		22,809		1,507,342
Henkel		18,184		1,699,418
Hochtief		3,715		255,784
Hugo Boss		5,213		651,606
Infineon Technologies		173,262		1,793,015
K+S		25,155		713,469
Kabel Deutschland Holding		2,676		363,694
Lanxess		13,318		735,204
Linde		28,779		5,530,767
MAN		6,236		701,813
Merck		20,855		1,923,753
†Metro		23,665		779,564
Muenchener Rueckversicherungs
Class R		26,424		5,225,037
†OSRAM Licht		12,830		477,983
ProSiebenSat.1 Media		32,717		1,303,799
RWE		73,315		2,857,302
SAP		141,567		10,210,238
Siemens		121,494		14,481,932
†Sky Deutschland		78,552		667,645
Telefonica Deutschland Holding		63,952		334,420
†ThyssenKrupp		72,531		1,903,279
United Internet		20,046		853,161
Volkswagen		4,562		946,740

				161,936,344

¢Hong Kong–2.84%
AIA Group		1,892,000		9,783,035


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
¢Hong Kong (continued)
ASM Pacific Technology		34,000	$	336,504
Bank of East Asia		177,741		719,905
BOC Hong Kong Holdings		606,500		1,933,183
Cathay Pacific Airways		188,000		346,227
Cheung Kong Holdings		222,000		3,656,709
Cheung Kong Infrastructure Holdings		84,000		589,580
CLP Holdings		289,500		2,324,620
First Pacific		285,750		297,716
Galaxy Entertainment Group		376,000		2,183,893
Hang Lung Properties		349,000		993,310
Hang Seng Bank		125,100		2,009,050
Henderson Land Development		151,684		982,595
HKT Trust		420,592		508,078
Hong Kong & China Gas		1,025,885		2,224,886
Hong Kong Exchanges & Clearing		176,835		3,805,499
Hutchison Whampoa		339,000		4,103,878
Hysan Development		76,850		355,308
Kerry Logistics Network		15		23
Kerry Properties		81,031		272,370
Li & Fung		844,000		958,689
Link REIT		376,715		2,171,065
MGM China Holdings		135,995		391,442
MTR		238,339		933,116
New World Development		840,443		978,461
Noble Group		676,155		689,062
NWS Holdings		269,593		479,826
PCCW		544,596		342,264
Power Assets Holdings		206,000		1,821,272
Sands China		362,268		1,889,522
Shangri-La Asia		254,166		377,083
Sino Land		438,186		677,184
SJM Holdings		287,591		548,156
Sun Hung Kai Properties		261,005		3,700,864
Swire Pacific Class A		99,000		1,274,976
Swire Properties		170,761		532,195
Techtronic Industries		200,500		579,692
Wharf Holdings		226,000		1,606,625
Wheelock		155,000		740,581
Wynn Macau		211,153		671,678
Yue Yuen Industrial Holdings		118,500		359,398

				59,149,520

Ireland–1.01%
=Anglo Irish Bank		3,965		0
†Bank of Ireland		4,197,135		1,643,434
CRH		109,553		2,505,996
Experian		157,087		2,504,519
James Hardie Industries CDI		61,778		647,454
Kerry Group Class A		22,398		1,579,199
Shire		92,470		8,004,826
WPP		203,266		4,085,980

				20,971,408


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Israel–0.51%
Bank Hapoalim		140,296	$	791,210
†Bank Leumi Le-Israel		178,346		722,507
Bezeq Israeli Telecommunication		234,136		404,393
Delek Group		567		214,767
†Israel		558		314,082
Israel Chemicals		58,403		420,234
†Mizrahi Tefahot Bank		17,430		208,380
NICE Systems		11,008		445,951
Teva Pharmaceutical Industries		130,446		7,037,829

				10,559,353

Italy–2.26%
Assicurazioni Generali		178,350		3,753,063
Atlantia		64,242		1,586,367
†Banca Monte Dei Paschi Di Siena		637,089		840,114
†Banco Popolare		55,320		812,643
Enel		1,005,399		5,336,202
Enel Green Power		280,471		717,737
ENI		388,564		9,261,305
Exor		15,044		584,124
†Fiat		134,708		1,299,943
†Finmeccanica		67,349		655,453
Intesa Sanpaolo		1,711,126		5,200,144
Intesa Sanpaolo RSP		202,428		543,079
Luxottica Group		25,555		1,330,521
†Mediobanca		88,025		757,166
Pirelli & C		39,571		547,804
Prysmian		33,255		617,885
†Saipem		39,228		834,403
Snam		309,910		1,714,539
†Telecom Italia		1,494,137		1,712,674
Telecom Italia RSP		970,500		862,377
Terna		230,889		1,161,294
UniCredit		674,244		5,331,251
Unione di Banche Italiane SCpA		134,094		1,128,032
Unipolsai		165,713		468,859

				47,056,979

Japan–20.08%
ABC-Mart		4,800		245,110
†Acom		83,400		279,103
Advantest		23,400		301,715
Aeon		97,500		970,866
Aeon Financial Service		19,500		417,330
Aeon Mall		16,390		312,810
Air Water		24,000		357,160
Aisin Seiki		30,700		1,107,176
Ajinomoto		87,000		1,447,818
Alfresa Holdings		29,600		426,732
Amada		49,000		466,922
ANA Holdings		199,000		462,909
Aozora Bank		189,000		639,393


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Japan (continued)
Asahi Glass		163,000	$	883,781
Asahi Group Holdings		62,100		1,796,775
Asahi Kasei		205,000		1,664,451
Asics		21,000		473,177
Astellas Pharma		333,900		4,972,039
Bank of Kyoto		61,000		506,734
Bank of Yokohama		191,000		1,050,574
Benesse Holdings		10,300		338,121
Bridgestone		102,000		3,368,841
Brother Industries		35,000		647,563
Calbee		12,400		405,927
Canon		175,700		5,720,484
Casio Computer		39,300		655,090
Central Japan Railway		21,700		2,931,523
Chiba Bank		128,000		890,567
Chiyoda		27,000		298,153
†Chubu Electric Power		101,800		1,168,707
Chugai Pharmaceutical		36,500		1,056,741
Chugoku Bank		21,000		308,494
Chugoku Electric Power		45,600		584,631
Citizen Holdings		51,700		338,962
Credit Saison		24,400		470,134
Dai Nippon Printing		93,000		932,417
Daicel		43,000		466,995
Daido Steel		43,000		171,349
Daihatsu Motor		31,800		504,845
Dai-ichi Life Insurance		163,700		2,430,161
Daiichi Sankyo		94,500		1,483,012
Daikin Industries		36,300		2,250,193
Dainippon Sumitomo Pharma		22,500		286,623
Daito Trust Construction		11,000		1,299,457
Daiwa House Industry		96,000		1,722,336
Daiwa Securities Group		270,000		2,139,270
Dena		11,000		139,926
Denso		76,300		3,517,043
Dentsu		33,900		1,290,590
Don Quijote		7,600		435,909
East Japan Railway		52,400		3,927,671
Eisai		38,700		1,565,080
Electric Power Development		17,100		559,007
FamilyMart		8,500		324,374
FANUC		29,800		5,383,103
Fast Retailing		8,000		2,677,609
Fuji Electric		83,000		401,888
Fuji Heavy Industries		89,000		2,942,726
FUJIFILM Holdings		75,200		2,310,892
Fujitsu		299,000		1,840,378
Fukuoka Financial Group		136,000		648,593
Gree		23,400		159,606
GungHo Online Entertainment		59,000		281,375
Gunma Bank		57,000		328,491
Hachijuni Bank		58,000		348,534


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Japan (continued)
Hakuhodo DY Holdings		34,100	$	345,151
Hamamatsu Photonics		12,900		612,857
Hankyu Hanshin Holdings		168,000		978,908
Hikari Tsushin		2,400		170,483
Hino Motors		34,000		475,594
Hirose Electric		4,800		592,641
Hiroshima Bank		75,000		368,623
Hisamitsu Pharmaceutical		7,100		255,086
Hitachi		749,000		5,720,034
Hitachi Chemical		21,400		380,523
Hitachi Construction Machinery		14,900		299,997
Hitachi High-Technologies		9,200		264,259
Hitachi Metals		29,000		522,537
Hokuhoku Financial Group		180,000		352,893
Hokuriku Electric Power		23,600		310,104
Honda Motor		251,200		8,704,327
HOYA		69,400		2,331,369
Hulic		37,500		396,663
Ibiden		20,100		391,498
Idemitsu Kosan		14,400		305,687
IHI		214,000		1,108,394
IIda Group Holdings		20,000		244,745
Inpex		140,600		1,986,593
Isetan Mitsukoshi Holdings		53,500		696,649
Isuzu Motors		87,500		1,236,721
ITOCHU		227,400		2,778,608
ITOCHU Techno-Solutions		3,600		151,334
Iyo Bank		32,000		323,896
J Front Retailing		43,000		562,668
Japan Airlines		20,000		547,121
†Japan Display		53,000		255,660
Japan Exchange Group		38,200		906,712
Japan Prime Realty Investment		116		417,818
Japan Real Estate Investment		193		992,586
Japan Retail Fund Investment		384		773,848
Japan Tobacco		170,400		5,542,487
JFE Holdings		79,900		1,594,503
JGC		31,000		846,341
Joyo Bank		119,000		585,966
JSR		31,300		545,998
JTEKT		31,200		521,778
JX Holdings		362,210		1,669,604
Kajima		125,000		598,413
Kakaku.com		18,200		258,566
Kamigumi		41,000		388,073
Kaneka		43,000		240,359
†Kansai Electric Power		101,400		958,383
Kansai Paint		36,000		537,710
Kao		81,000		3,158,679
Kawasaki Heavy Industries		244,000		974,532
KDDI		90,500		5,440,811
Keikyu		74,000		618,101


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Japan (continued)
Keio		83,000	$	613,806
Keisei Electric Railway		39,000		391,903
Keyence		7,344		3,192,010
Kikkoman		21,000		446,368
Kintetsu		263,000		884,941
Kirin Holdings		121,000		1,607,044
Kobe Steel		459,000		745,014
Koito Manufacturing		14,100		383,020
Komatsu		149,200		3,450,926
Konami		13,300		277,243
Konica Minolta Holdings		72,500		782,747
Kubota		178,000		2,812,064
Kuraray		52,900		620,338
Kurita Water Industries		16,000		357,015
Kyocera		49,500		2,306,976
Kyowa Hakko Kirin		31,000		380,203
†Kyushu Electric Power		65,500		705,977
Lawson		11,400		797,319
LIXIL Group		40,000		854,603
M3		35,600		571,340
Mabuchi Motor		4,900		427,155
Makita		17,300		978,070
Marubeni		244,800		1,675,975
Marui Group		39,100		321,956
Maruichi Steel Tube		7,000		171,896
Mazda Motor		80,000		2,005,380
McDonald’s Holdings Japan		13,100		324,081
Medipal Holdings		20,600		250,397
MEIJI Holdings		9,834		777,466
Miraca Holdings		8,200		339,096
Mitsubishi		218,900		4,483,193
Mitsubishi Chemical Holdings		209,600		1,031,324
Mitsubishi Electric		297,000		3,955,396
Mitsubishi Estate		192,000		4,321,816
Mitsubishi Gas Chemical		49,000		312,324
Mitsubishi Heavy Industries		458,000		2,946,836
Mitsubishi Logistics		25,000		358,820
Mitsubishi Materials		180,000		582,684
Mitsubishi Motors		97,100		1,178,499
Mitsubishi Tanabe Pharma		39,700		582,477
Mitsubishi UFJ Financial Group		1,993,700		11,275,181
Mitsubishi UFJ Lease & Finance		69,900		365,228
Mitsui		266,100		4,196,598
†Mitsui Chemicals		129,000		358,774
Mitsui Fudosan		145,000		4,441,960
Mitsui OSK Lines		166,000		529,795
Mizuho Financial Group		3,562,520		6,363,905
MS&AD Insurance Group Holdings		75,154		1,639,593
Murata Manufacturing		32,400		3,684,202
Nabtesco		14,600		350,006
Nagoya Railroad		122,000		489,491
Namco Bandai Holdings		24,700		634,026


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Japan (continued)
NEC		389,000	$	1,344,376
Nexon		30,200		249,223
NGK Insulators		41,000		976,538
NGK Spark Plug		30,000		882,232
NHK Spring		23,500		230,361
Nidec		31,200		2,111,011
Nikon		49,900		721,210
Nintendo		17,400		1,892,874
Nippon Building Fund		202		1,062,819
Nippon Electric Glass		61,000		297,032
Nippon Express		124,000		518,999
Nippon Meat Packers		25,000		530,251
Nippon Paint		30,000		674,326
Nippon Prologis REIT		225		523,389
Nippon Steel & Sumitomo Metal		1,216,220		3,156,305
Nippon Telegraph & Telephone		57,600		3,582,634
Nippon Yusen		248,000		653,554
Nissan Motor		381,700		3,720,761
Nisshin Seifun Group		32,065		316,951
Nissin Foods Holdings		8,500		441,800
Nitori Holdings		9,700		600,584
Nitto Denko		24,600		1,349,282
NKSJ Holdings		48,375		1,173,810
NOK		14,100		323,491
Nomura Holdings		568,500		3,389,279
Nomura Real Estate Holdings		14,700		252,540
Nomura Research Institute		16,500		533,374
NSK		70,000		996,398
NTT Data		19,400		698,764
NTT DoCoMo		238,400		3,979,312
NTT Urban Development		13,800		145,217
Obayashi		110,000		753,294
Odakyu Electric Railway		102,000		932,896
Oji Holdings		123,000		465,463
†Olympus		35,100		1,259,458
Omron		29,600		1,344,166
Ono Pharmaceutical		13,200		1,172,370
Oracle Japan		5,900		230,265
Oriental Land		7,500		1,418,069
ORIX		203,100		2,802,082
Osaka Gas		275,000		1,105,116
Otsuka		7,300		290,229
Otsuka Holdings		59,900		2,064,670
Panasonic		344,300		4,095,558
Park24		17,800		284,047
Rakuten		116,400		1,340,566
Resona Holdings		327,300		1,845,642
Ricoh		103,400		1,110,703
Rinnai		5,600		465,199
Rohm		14,900		937,491
Sankyo		5,900		211,435
Sanrio		5,700		165,285


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Japan (continued)
Santen Pharmaceutical		10,900	$	610,277
SBI Holdings		27,270		305,362
Secom		33,700		2,007,588
Sega Sammy Holdings		31,700		510,195
Seibu Holdings		18,000		359,458
Seiko Epson		21,400		1,028,386
Sekisui Chemical		64,000		734,163
Sekisui House		83,300		981,385
Seven & I Holdings		115,700		4,488,103
Seven Bank		91,400		372,551
†Sharp		244,000		694,187
†Shikoku Electric Power		22,500		288,469
Shimadzu		41,000		354,799
Shimamura		2,800		257,366
Shimano		11,500		1,398,897
Shimizu		85,000		670,451
Shin-Etsu Chemical		63,000		4,117,850
Shinsei Bank		224,000		480,007
Shionogi		43,700		1,002,592
Shiseido		57,900		955,365
Shizuoka Bank		82,000		844,189
Showa Shell Sekiyu		36,300		346,234
SMC		8,800		2,427,393
SoftBank		150,200		10,531,052
Sony		164,300		2,982,914
Sony Financial Holdings		24,400		394,708
Stanley Electric		19,600		423,938
Sumitomo		172,700		1,906,291
Sumitomo Chemical		230,000		820,043
Sumitomo Electric Industries		121,800		1,799,817
Sumitomo Heavy Industries		79,000		444,472
Sumitomo Metal Mining		83,000		1,168,577
Sumitomo Mitsui Financial Group		196,200		7,998,999
Sumitomo Mitsui Trust Holdings		509,460		2,120,718
Sumitomo Realty & Development		54,000		1,921,625
Sumitomo Rubber Industries		23,600		335,498
Suntory Beverage & Food		21,800		773,282
Suruga Bank		25,000		498,336
Suzuken		10,500		302,558
Suzuki Motor		58,600		1,942,646
Sysmex		22,400		900,780
T&D Holdings		84,700		1,087,858
Taiheiyo Cement		198,000		747,476
Taisei		150,000		846,669
Taisho Pharmaceutical Holdings		4,800		328,710
Taiyo Nippon Sanso		47,000		414,435
Takashimaya		33,000		275,940
Takeda Pharmaceutical		122,500		5,326,038
TDK		20,700		1,155,191
Teijin		135,000		326,221
Terumo		48,900		1,172,280
THK		16,500		410,751


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Japan (continued)
Tobu Railway		169,000	$	850,663
Toho		17,100		386,705
Toho Gas		58,000		326,850
Tohoku Electric Power		67,100		762,382
Tokio Marine Holdings		110,700		3,434,612
†Tokyo Electric Power		235,400		824,270
Tokyo Electron		27,600		1,801,494
Tokyo Gas		372,000		2,091,260
Tokyo Tatemono		64,000		517,649
Tokyu		168,000		1,101,464
Tokyu Fudosan Holdings		72,000		493,722
TonenGeneral Sekiyu		39,000		341,048
Toppan Printing		86,000		617,955
Toray Industries		225,000		1,487,485
Toshiba		609,000		2,822,175
TOTO		38,000		417,891
Toyo Seikan Kaisha		22,000		272,630
Toyo Suisan Kaisha		14,000		464,688
Toyoda Gosei		6,100		119,035
Toyota Industries		25,800		1,246,888
Toyota Motor		429,200		25,294,484
Toyota Tsusho		35,000		852,779
Trend Micro		18,500		625,861
Unicharm		54,600		1,244,949
United Urban Investment		394		604,661
USS		31,700		485,624
West Japan Railway		25,000		1,119,204
Yahoo Japan		219,300		833,886
Yakult Honsha		13,000		682,807
Yamada Denki		149,900		437,405
Yamaguchi Financial Group		32,000		302,302
Yamaha		25,900		338,437
Yamaha Motor		43,500		850,841
Yamato Holdings		56,800		1,057,377
Yamato Kogyo		5,900		196,909
Yamazaki Baking		17,000		219,195
Yaskawa Electric		31,000		419,778
Yokogawa Electric		31,000		407,623
Yokohama Rubber		24,000		207,687

				418,291,780

Luxembourg–0.36%
†Altice		13,100		693,799
ArcelorMittal		161,711		2,226,403
Millicom International Cellular SDR		10,274		825,069
RTL Group		4,778		409,722
SES FDR		45,783		1,583,055
Tenaris		72,127		1,653,531

				7,391,579


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Mexico–0.02%
Fresnillo		32,375	$	398,872

				398,872

Netherlands–4.46%
AEGON		282,788		2,333,162
Akzo Nobel		36,719		2,516,102
ASML Holding		54,131		5,389,149
CNH Industrial		142,086		1,130,654
Corio		10,307		505,454
Delta Lloyd		27,980		674,847
Fugro CVA		12,163		368,176
Gemalto		12,019		1,103,370
Heineken		33,645		2,517,522
Heineken Holding		15,794		1,044,750
†ING Groep CVA		588,266		8,403,768
Koninklijke Ahold		135,866		2,200,070
Koninklijke Boskalis Westminster		14,511		817,100
Koninklijke DSM		25,933		1,600,293
†Koninklijke KPN		476,439		1,526,741
Koninklijke Philips Electronics		146,441		4,673,258
Koninklijke Vopak		11,600		626,005
†OCI		15,255		471,213
†QIAGEN		35,235		802,431
Randstad Holding		16,913		787,433
Reed Elsevier		106,651		2,420,754
Royal Dutch Shell Class A		606,488		23,188,246
Royal Dutch Shell Class B		380,749		15,041,949
TNT Express		74,375		471,031
Unilever CVA		250,333		9,969,647
Wolters Kluwer		46,117		1,230,248
Ziggo		24,124		1,130,170

				92,943,543

New Zealand–0.12%
Auckland International Airport		168,953		507,789
Contact Energy		39,663		185,158
Fletcher Building		102,878		705,137
Ryman Healthcare		46,082		280,956
Telecom New Zealand		274,960		637,503
†Xero		9,317		157,104

				2,473,647

Norway–0.76%
Akastor		17,577		70,721
†Aker Solutions		17,577		175,092
DNB		142,711		2,672,166
Gjensidige Forsikring		31,313		662,345
Norsk Hydro		209,752		1,173,342
Orkla		122,722		1,109,785
Seadrill		57,655		1,546,189
Statoil		169,177		4,613,344
Telenor		110,736		2,430,235


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Norway (continued)
Yara International		27,909	$	1,401,358

				15,854,577

Portugal–0.17%
†Banco Comercial Portugues Class R		5,144,244		673,161
†=Banco Espirito Santo Class R		465,409		0
EDP		360,986		1,575,347
Galp Energia		62,209		1,011,276
Jeronimo Martins		32,739		360,512

				3,620,296

Singapore–1.37%
Ascendas Real Estate Investment Trust		325,000		573,237
CapitaCommercial Trust		294,000		367,601
CapitaLand		393,000		985,850
CapitaMall Trust		405,000		606,397
City Developments		63,000		475,099
ComfortDelGro		282,000		530,553
DBS Group Holdings		264,552		3,820,051
Genting Singapore		955,800		854,162
Global Logistic Properties		450,000		955,983
Golden Agri-Resources		1,199,480		484,249
Hutchison Port Holdings Trust		909,400		636,580
Jardine Cycle & Carriage		14,000		470,929
Keppel		222,815		1,834,012
Keppel Land		106,523		292,267
OCBC Bank		443,669		3,387,552
Olam International		123,000		226,590
Sembcorp Industries		151,000		613,162
SembCorp Marine		105,000		307,843
Singapore Airlines		83,000		640,238
Singapore Exchange		113,000		640,450
Singapore Press Holdings		241,000		793,478
Singapore Technologies Engineering		239,000		683,847
Singapore Telecommunications		1,221,000		3,637,205
StarHub		118,000		381,108
United Overseas Bank		194,397		3,413,548
UOL Group		58,832		304,848
Wilmar International		294,000		712,155

				28,628,994

Spain–3.39%
Abertis Infraestructuras		63,119		1,246,908
ACS		28,098		1,079,624
Amadeus IT Holding		58,110		2,174,071
Banco Bilbao Vizcaya Argentaria		899,216		10,848,023
Banco de Sabadell		518,980		1,536,547
Banco Popular Espanol		271,828		1,664,198
Banco Santander		1,853,747		17,820,911
†Bankia		703,671		1,313,656
CaixaBank		277,009		1,686,820
Distribuidora Internacional de Alimentacion		94,473		678,265


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Spain (continued)
Enagas		30,995	$	999,494
Ferrovial		62,861		1,219,183
Gas Natural SDG		54,209		1,596,068
Grifols		22,781		933,451
Iberdrola		791,455		5,668,224
Inditex		166,615		4,603,624
Mapfre		133,095		471,387
Red Electrica		16,555		1,433,632
Repsol YPF		155,622		3,695,443
Telefonica		625,618		9,684,123
Zardoya Otis		24,729		306,730

				70,660,382

Sweden–2.89%
Alfa Laval		49,082		1,050,188
Assa Abloy Class B		54,033		2,789,969
Atlas Copco Class A		108,059		3,099,765
Atlas Copco Class B		55,475		1,440,669
Boliden		42,382		687,758
Electrolux Class B		39,106		1,034,539
Elekta Class B		46,353		457,036
Ericsson LM Class B		481,694		6,114,545
Getinge Class B		25,713		648,874
Hennes & Mauritz Class B		150,130		6,231,058
Hexagon Class B		36,315		1,152,442
Husqvarna Class B		76,246		539,927
Industrivarden Class C		17,930		313,323
Investment Kinnevik Class B		36,782		1,328,843
Investor Class B		73,700		2,606,427
†Lundin Petroleum		36,176		612,116
Nordea Bank		480,534		6,252,982
Sandvik		163,972		1,849,659
Securitas Class B		44,925		498,987
Skandinaviska Enskilda Banken Class A		227,240		3,035,703
Skanska Class B		58,638		1,213,211
SKF Class B		56,464		1,179,186
Svenska Cellulosa Class B		85,691		2,043,683
Svenska Handelsbanken Class A		79,839		3,756,231
Swedbank Class A		145,050		3,652,331
Swedish Match		26,820		869,705
Tele2 Class B		43,560		526,081
TeliaSonera		359,170		2,484,689
Volvo Class B		247,442		2,690,071

				60,159,998

Switzerland–9.46%
†ABB		339,179		7,631,661
Actelion		16,722		1,967,088
Adecco		27,813		1,889,355
†Aryzta		13,724		1,183,859
Baloise Holding		8,008		1,027,581


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Switzerland (continued)
Barry Callebaut		285	$	317,048
Cie Financiere Richemont Class A		80,532		6,609,419
Coca-Cola HBC		29,554		638,640
Credit Suisse Group		234,434		6,500,255
EMS-Chemie Holding		1,211		503,923
Geberit		6,055		1,958,607
Givaudan		1,494		2,391,276
Glencore International		1,663,933		9,257,483
Holcim		36,853		2,688,746
Julius Baer Group		36,933		1,657,758
Kuehne & Nagel International Class R		8,242		1,041,204
Lindt & Spruengli Class R		16		950,045
Lindt & Spruengli PC		140		699,670
Lonza Group		8,938		1,080,443
Nestle		497,399		36,602,189
Novartis		354,797		33,504,373
Pargesa Holding Bearer Shares		3,740		297,939
Partners Group Holding		2,857		752,669
Roche Holding		108,365		32,135,475
Schindler Holding		4,023		536,878
Schindler Holding PC		7,686		1,043,425
SGS		880		1,826,093
Sika Bearer Shares		336		1,165,696
Sonova Holding		7,807		1,247,942
STMicroelectronics		93,078		719,509
Sulzer		4,424		544,514
Swatch Group		4,622		2,198,555
Swatch Group Bearer Shares		6,965		609,935
Swiss Life Holding		4,915		1,174,884
Swiss Prime Site		8,926		662,917
Swiss Re		55,846		4,454,693
Swisscom		3,727		2,117,946
Syngenta		14,468		4,611,756
Transocean		59,076		1,911,546
UBS		561,542		9,799,706
Wolseley		40,731		2,140,661
†Zurich Insurance Group		23,070		6,882,455

				196,935,817

United Kingdom–17.36%
3i Group		143,350		890,730
Aberdeen Asset Management		139,123		903,257
Admiral Group		28,308		588,770
Aggreko		39,208		983,910
AMEC		43,975		787,018
Anglo American		216,512		4,857,668
Antofagasta		57,751		675,001
ARM Holdings		220,772		3,242,515
†ASOS		8,399		306,351
Associated British Foods		56,365		2,447,891
AstraZeneca		197,047		14,187,612
Aviva		451,332		3,830,210


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
United Kingdom (continued)
Babcock International Group		76,163	$	1,348,269
BAE Systems		480,690		3,674,147
Barclays		2,523,252		9,303,714
BG Group		533,914		9,867,019
BHP Billiton		330,800		9,196,857
BP		2,843,746		20,904,029
British American Tobacco		292,056		16,485,598
British Land		147,203		1,676,381
British Sky Broadcasting Group		159,997		2,287,653
BT Group		1,243,026		7,649,204
Bunzl		51,131		1,334,504
Burberry Group		67,934		1,664,031
Capita		101,212		1,909,830
Capital Shopping Centres Group		149,571		782,449
Carnival		28,182		1,125,699
Centrica		786,609		3,924,979
Cobham		175,520		828,283
Compass Group		262,008		4,232,546
Croda International		20,030		666,622
Diageo		392,750		11,364,863
Direct Line Insurance Group		229,679		1,095,403
Dixons Carphone		144,412		857,531
easyJet		25,867		596,706
G4S		228,888		930,223
GKN		251,179		1,299,739
GlaxoSmithKline		743,527		17,031,336
Hammerson		113,416		1,056,268
Hargreaves Lansdown		34,732		532,073
HSBC Holdings		2,941,422		29,854,571
ICAP		84,379		529,775
IMI		39,928		796,146
Imperial Tobacco Group		148,002		6,391,630
Inmarsat		67,267		764,416
Intercontinental Hotels Group Loan		36,966		1,425,630
†International Consolidated Airlines Group		102,223		608,335
†International Consolidated Airlines Group (London Stock Exchange)		60,078		357,796
Intertek Group		24,322		1,033,418
Investec		80,006		674,428
ITV		586,495		1,975,694
Johnson Matthey		31,377		1,484,757
Kingfisher		362,861		1,905,290
Land Securities Group		121,012		2,038,233
Legal & General Group		906,147		3,362,438
†Lloyds Banking Group		8,932,359		11,130,966
London Stock Exchange Group		36,522		1,105,965
Marks & Spencer Group		249,969		1,639,539
Meggitt		127,613		933,413
Melrose Industries		158,104		634,861
National Grid		585,894		8,434,160
Next		24,466		2,619,664


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
United Kingdom (continued)
Old Mutual		775,966	$	2,285,638
Pearson		130,315		2,619,545
Persimmon		45,380		981,364
Petrofac		37,994		638,710
Prudential		394,613		8,802,370
Randgold Resources		13,471		919,155
Reckitt Benckiser Group		100,170		8,687,629
Reed Elsevier		175,719		2,814,398
Resolution		217,140		1,084,529
Rexam		109,921		876,353
Rio Tinto		199,153		9,787,104
Rolls-Royce Holdings		292,346		4,570,979
†Royal Bank of Scotland Group		384,383		2,294,340
Royal Mail		100,422		638,478
†RSA Insurance Group		156,973		1,232,902
SABMiller		148,591		8,257,396
Sage Group		161,899		959,009
Sainsbury (J.)		189,939		774,394
Schroders		18,153		703,619
Segro		113,659		669,021
Severn Trent		36,960		1,124,621
Smith & Nephew		136,705		2,304,770
Smiths Group		61,765		1,265,608
†Sports Direct International		39,327		394,312
SSE		149,832		3,757,549
Standard Chartered		387,603		7,166,254
Standard Life		378,889		2,545,315
Subsea 7		42,965		613,566
Tate & Lyle		68,705		658,799
TESCO		1,262,886		3,812,006
Travis Perkins		37,813		1,020,010
TUI Travel		77,035		485,914
Tullow Oil		139,390		1,456,345
Unilever		197,656		8,282,861
United Utilities Group		105,109		1,376,769
Vodafone Group		4,129,011		13,681,595
Weir Group		32,941		1,336,084
Whitbread		27,786		1,871,123
William Hill		130,580		782,805


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
United Kingdom (continued)
WM Morrison Supermarkets		337,113	$	919,749

				361,481,002


Total Common Stock (Cost $1,704,833,063)				1,978,675,871


DPREFERRED STOCK–0.52%
Germany–0.52%
Bayerische Motoren Werke 2.62%		8,838		719,250
Fuchs Petrolub 0.70%		12,670		481,705
Henkel 1.22%		26,730		2,669,276
Porsche Automobil Holding 2.01%		22,289		1,786,041
Volkswagen 4.06%		25,189		5,230,587


Total Preferred Stock (Cost $9,391,700)				10,886,859


DRIGHTS–0.01%
Italy–0.00%
†Fiat		134,708		0

				0

Spain–0.01%
Banco Bilbao Vizcaya Argentaria		899,216		89,728
†Banco Popular Espanol		271,828		3,777

				93,505


Total Rights (Cost $93,901)				93,505


MONEY MARKET FUND–3.66%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		76,222,676		76,222,676


Total Money Market Fund (Cost $76,222,676)				76,222,676

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing during the period. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.

« Includes $24,650 cash and $91,777 foreign currencies pledged as collateral for futures contracts as of September 30, 2014.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

« Includes $174,800 cash pledged as collateral for futures contracts as of September 30, 2014.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–97.16%
Aerospace & Defense–1.78%
Alliant Techsystems		6,359	$	811,663
†B/E Aerospace		21,382		1,794,805
†Esterline Technologies		6,359		707,566
Exelis		37,949		627,676
Huntington Ingalls Industries		9,790		1,020,216
Triumph Group		10,396		676,260
†Vectrus		2,108		41,175

				5,679,361

Airlines–0.54%
Alaska Air Group		27,553		1,199,658
†JetBlue Airways		50,021		531,223

				1,730,881

Auto Components–0.24%
Gentex		29,169		780,854

				780,854

Automobiles–0.15%
Thor Industries		9,482		488,323

				488,323

Banks–4.65%
Associated Banc-Corp		31,894		555,593
BancorpSouth		16,956		341,494
Bank of Hawaii		8,882		504,586
Cathay General Bancorp		14,836		368,378
City National		9,588		725,524
Commerce Bancshares		16,149		720,972
Cullen/Frost Bankers		11,198		856,759
East West Bancorp		28,664		974,576
First Horizon National		47,336		581,286
First Niagara Financial Group		70,852		590,197
FirstMerit		33,104		582,630
Fulton Financial		37,848		419,356
Hancock Holding		16,452		527,287
International Bancshares		11,405		281,304
PacWest Bancorp		19,730		813,468
Prosperity Bancshares		12,010		686,612
†Signature Bank		10,192		1,142,116
†SVB Financial Group		10,292		1,153,630
Synovus Financial		27,856		658,516
TCF Financial		33,407		518,811
Trustmark		13,524		311,525
Umpqua Holdings		37,344		615,056
Valley National Bancorp		40,169		389,238
Webster Financial		18,066		526,443

				14,845,357

Biotechnology–0.71%
†Cubist Pharmaceuticals		15,420		1,022,963
†United Therapeutics		9,581		1,232,596

				2,255,559


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Building Products–0.86%
Fortune Brands Home & Security		32,206	$	1,323,989
Lennox International		9,083		698,210
Smith (A.O.)		15,240		720,547

				2,742,746

Capital Markets–1.60%
Eaton Vance		24,122		910,123
Federated Investors Class B		18,974		557,077
Janus Capital Group		30,076		437,305
Raymond James Financial		25,529		1,367,844
SEI Investments		26,662		964,098
Waddell & Reed Financial Class A		17,057		881,676

				5,118,123

Chemicals–3.10%
Albemarle		15,946		939,219
Ashland		14,533		1,512,885
Cabot		13,210		670,672
Cytec Industries		14,332		677,760
Minerals Technologies		6,863		423,516
NewMarket		2,220		845,864
Olin		15,845		400,086
PolyOne		18,873		671,501
Rayonier Advanced Materials		8,478		279,011
RPM International		27,159		1,243,339
Scotts Miracle-Gro Class A		9,142		502,810
Sensient Technologies		9,891		517,794
Valspar		15,543		1,227,742

				9,912,199

Commercial Services & Supplies–1.98%
†CDK Global		32,200		984,998
Civeo		21,195		246,074
†Clean Harbors		11,102		598,620
†Copart		22,507		704,807
Deluxe		9,992		551,159
Donnelley (R.R.) & Sons		39,968		657,873
Herman Miller		11,909		355,484
HNI		8,983		323,298
MSA Safety		6,358		314,085
Rollins		12,818		375,311
Waste Connections		24,828		1,204,655

				6,316,364

Communications Equipment–1.13%
ADTRAN		11,304		232,071
†ARRIS Group		26,820		760,481
†Ciena		20,993		351,003
InterDigital		8,074		321,507
†JDS Uniphase		47,032		602,010
Plantronics		8,478		405,079
†Polycom		27,654		339,729


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Communications Equipment (continued)
†Riverbed Technology		32,096	$	595,220

				3,607,100

Construction & Engineering–0.71%
†AECOM Technology		19,883		671,051
Granite Construction		7,267		231,163
KBR		29,471		554,939
URS		13,827		796,573

				2,253,726

Construction Materials–0.32%
Eagle Materials		9,992		1,017,485

				1,017,485

Consumer Finance–0.23%
SLM		84,678		724,844

				724,844

Containers & Packaging–1.55%
AptarGroup		13,121		796,445
Greif Class A		6,956		304,742
Packaging of America		19,681		1,256,041
Rock-Tenn Class A		28,764		1,368,591
Silgan Holdings		8,781		412,707
Sonoco Products		20,388		801,044

				4,939,570

Distributors–0.51%
†LKQ		61,352		1,631,350

				1,631,350

Diversified Consumer Services–0.93%
†Apollo Education Group Class A		19,883		500,057
DeVry Education Group		11,405		488,248
Graham Holdings		900		629,631
Service International		42,793		904,644
Sotheby’s		12,527		447,464

				2,970,044

Diversified Financial Services–0.63%
CBOE Holdings		17,258		923,734
†MSCI		23,315		1,096,271

				2,020,005

Diversified Telecommunication Services–0.36%
†tw Telecom Class A		27,654		1,150,683

				1,150,683

Electric Utilities–1.62%
Cleco		12,111		583,145
Great Plains Energy		30,783		744,025
Hawaiian Electric Industries		20,287		538,620
IDACORP		10,093		541,086
OGE Energy		39,867		1,479,464
PNM Resources		15,947		397,240


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Electric Utilities (continued)
Westar Energy		25,837	$	881,558

				5,165,138

Electrical Equipment–0.92%
Acuity Brands		8,680		1,021,723
Hubbell Class B		11,099		1,337,762
Regal-Beloit		9,083		583,583

				2,943,068

Electronic Equipment, Instruments & Components–2.98%
†Arrow Electronics		19,983		1,106,059
Avnet		27,755		1,151,833
Belden		8,680		555,694
†Cognex		17,700		712,779
FEI		8,478		639,411
†Ingram Micro		31,086		802,330
†Itron		7,872		309,448
†Knowles		17,057		452,011
National Instruments		20,481		633,477
†Tech Data		7,670		451,456
†Trimble Navigation		52,180		1,591,490
Vishay Intertechnology		27,150		387,973
†Zebra Technologies		10,093		716,300

				9,510,261

Energy Equipment & Services–2.77%
†Atwood Oceanics		12,207		533,324
CARBO Ceramics		3,937		233,188
†Dresser-Rand Group		15,341		1,261,951
†Dril-Quip		8,175		730,845
†Helix Energy Solutions Group		19,681		434,163
Oceaneering International		21,599		1,407,607
†Oil States International		10,998		680,776
Patterson-UTI Energy		29,764		968,223
Rowan Class A		24,929		630,953
Superior Energy Services		31,388		1,031,724
Tidewater		9,891		386,046
†Unit		9,381		550,196

				8,848,996

Food & Staples Retailing–0.31%
†SUPERVALU		42,253		377,742
†United Natural Foods		9,891		607,901

				985,643

Food Products–1.60%
Dean Foods		18,672		247,404
Flowers Foods		37,624		690,777
†Hain Celestial Group		10,292		1,053,386
Ingredion		14,937		1,132,075
Lancaster Colony		3,836		327,134
†Post Holdings		8,781		291,354
Tootsie Roll Industries		4,138		115,823


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Food Products (continued)
†Whitewave Foods		34,820	$	1,265,011

				5,122,964

Gas Utilities–1.53%
Atmos Energy		20,084		958,007
National Fuel Gas		16,855		1,179,681
ONE Gas		10,396		356,063
Questar		35,023		780,663
UGI		34,518		1,176,719
WGL Holdings		10,396		437,880

				4,889,013

Health Care Equipment & Supplies–2.88%
†Align Technology		14,432		745,846
Cooper		9,788		1,524,481
Hill-Rom Holdings		11,505		476,652
†Hologic		49,109		1,194,822
†IDEXX Laboratories		10,294		1,212,942
ResMed		28,058		1,382,418
†Sirona Dental Systems		11,102		851,301
STERIS		11,809		637,214
Teleflex		8,276		869,311
†Thoratec		11,405		304,856

				9,199,843

Health Care Providers & Services–3.01%
†Centene		11,905		984,663
†Community Health Systems		23,112		1,266,306
†Health Net		16,048		739,973
†Henry Schein		17,057		1,986,629
†LifePoint Hospitals		9,214		637,517
†MEDNAX		20,383		1,117,396
Omnicare		19,782		1,231,627
Owens & Minor		12,616		413,048
†VCA Antech		17,663		694,686
†WellCare Health Plans		8,781		529,846

				9,601,691

Health Care Technology–0.10%
†HMS Holdings		17,561		331,025

				331,025

Hotels, Restaurants & Leisure–1.65%
†Bally Technologies		7,872		635,270
Brinker International		13,020		661,286
Cheesecake Factory		9,185		417,917
Domino’s Pizza		11,102		854,410
International Game Technology		49,455		834,306
International Speedway Class A		5,551		175,634
†Life Time Fitness		7,569		381,780
†Panera Bread Class A		5,248		853,955
Wendy’s		56,286		464,922

				5,279,480


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Household Durables–1.64%
†Jarden		24,021	$	1,443,902
KB Home		17,966		268,412
MDC Holdings		7,772		196,787
†NVR		807		911,926
†Tempur Sealy International		12,212		685,948
†Toll Brothers		32,895		1,025,008
Tupperware Brands		10,093		696,821

				5,228,804

Household Products–1.08%
Church & Dwight		27,250		1,911,860
Energizer Holdings		12,514		1,541,850

				3,453,710

Industrial Conglomerates–0.32%
Carlisle		12,818		1,030,311

				1,030,311

Insurance–4.73%
†Alleghany		3,330		1,392,439
American Financial Group		15,232		881,780
Aspen Insurance Holdings		13,120		561,142
Berkley (W.R.)		20,690		988,982
Brown & Brown		23,819		765,781
Everest Re Group		9,185		1,488,062
First American Financial		21,397		580,287
Gallagher (Arthur J.)		32,289		1,464,629
Hanover Insurance Group		8,781		539,329
HCC Insurance Holdings		19,984		965,027
Kemper		10,194		348,125
Mercury General		7,267		354,702
Old Republic International		48,546		693,237
Primerica		10,900		525,598
Protective Life		15,745		1,092,860
Reinsurance Group of America		13,827		1,107,957
RenaissanceRe Holdings		8,075		807,419
StanCorp Financial Group		8,781		554,784

				15,112,140

Internet & Catalog Retail–0.13%
HSN		6,662		408,847

				408,847

Internet Software & Services–1.32%
†AOL		16,047		721,313
†Conversant		12,616		432,098
†Equinix		10,698		2,273,111
†Rackspace Hosting		24,215		788,198

				4,214,720

IT Services–2.68%
†Acxiom		15,442		255,565
Broadridge Financial Solutions		24,122		1,004,199
Convergys		20,287		361,514


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
IT Services (continued)
†CoreLogic		18,369	$	497,249
DST Systems		6,264		525,675
†Gartner		18,066		1,327,309
Global Payments		13,626		952,185
Jack Henry & Associates		16,956		943,771
Leidos Holdings		12,717		436,575
†NeuStar Class A		11,203		278,170
Science Applications International		8,175		361,580
†VeriFone Systems		22,406		770,318
†WEX		7,771		857,297

				8,571,407

Leisure Products–0.82%
Brunswick		18,571		782,582
Polaris Industries		12,321		1,845,563

				2,628,145

Life Sciences Tools & Services–1.30%
†Bio-Rad Laboratories Class A		4,037		457,796
†Charles River Laboratories International		9,689		578,821
†Covance		11,506		905,522
†Mettler-Toledo International		5,854		1,499,385
Techne		7,561		707,332

				4,148,856

Machinery–5.11%
AGCO		17,461		793,777
CLARCOR		10,093		636,666
Crane		9,891		625,210
Donaldson		27,042		1,098,716
Graco		12,112		883,934
Harsco		16,149		345,750
IDEX		16,148		1,168,631
ITT		18,369		825,503
Kennametal		15,745		650,426
Lincoln Electric Holdings		16,148		1,116,392
Nordson		12,010		913,601
Oshkosh		16,956		748,607
SPX		8,781		824,799
Terex		22,103		702,212
Timken		15,341		650,305
Trinity Industries		31,685		1,480,323
Valmont Industries		5,350		721,875
Wabtec		19,576		1,586,439
Woodward		11,809		562,345

				16,335,511

Marine–0.43%
†Kirby		11,603		1,367,414

				1,367,414


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Media–1.55%
†AMC Networks Class A		11,809	$	689,882
Cinemark Holdings		20,892		711,164
†DreamWorks Animation SKG Class A		14,432		393,561
John Wiley & Sons Class A		9,386		526,648
Lamar Advertising Class A		16,321		803,809
†Live Nation Entertainment		29,456		707,533
Meredith		7,368		315,350
New York Times Class A		25,232		283,103
†Time		22,305		522,606

				4,953,656

Metals & Mining–2.09%
Carpenter Technology		10,598		478,500
Cliffs Natural Resources		30,682		318,479
Commercial Metals		23,617		403,142
Compass Minerals International		6,762		569,901
Reliance Steel & Aluminum		15,543		1,063,141
Royal Gold		13,020		845,519
Steel Dynamics		47,941		1,083,946
Timkensteel		7,671		356,625
U.S. Steel		29,516		1,156,142
Worthington Industries		10,396		386,939

				6,662,334

Multiline Retail–0.34%
Big Lots		11,102		477,941
†Penney (J.C.)		61,061		613,052

				1,090,993

Multi-Utilities–1.07%
Alliant Energy		22,204		1,230,324
Black Hills		8,982		430,058
MDU Resources Group		39,453		1,097,188
Vectren		16,552		660,425

				3,417,995

Oil, Gas & Consumable Fuels–2.39%
†Bill Barrett		2,000		44,080
Energen		14,934		1,078,832
†Gulfport Energy		17,057		910,844
HollyFrontier		40,344		1,762,226
Peabody Energy		55,300		684,614
†Rosetta Resources		12,313		548,667
SM Energy		13,710		1,069,380
World Fuel Services		14,433		576,165
†WPX Energy		40,472		973,756

				7,648,564

Paper & Forest Products–0.26%
Domtar		13,020		457,393
†Louisiana-Pacific		28,260		384,053

				841,446


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Pharmaceuticals–1.30%
†Endo International		31,158	$	2,129,338
†Salix Pharmaceuticals		12,917		2,018,152

				4,147,490

Professional Services–1.01%
Corporate Executive Board		6,762		406,193
†FTI Consulting		8,175		285,798
ManpowerGroup		15,947		1,117,885
Towers Watson Class A		14,218		1,414,691

				3,224,567

Real Estate Investment Trusts–8.64%
Alexandria Real Estate Equities		14,332		1,056,985
American Campus Communities		20,993		765,195
BioMed Realty Trust		39,781		803,576
Camden Property Trust		17,158		1,175,838
Corporate Office Properties Trust		17,561		451,669
Corrections of America		23,314		801,069
Duke Realty		69,307		1,190,694
Equity One		15,717		339,959
Extra Space Storage		22,003		1,134,695
Federal Realty Investment Trust		13,724		1,625,745
Highwoods Properties		18,066		702,767
Home Properties		11,405		664,227
Hospitality Properties Trust		29,976		804,856
Kilroy Realty		16,951		1,007,567
LaSalle Hotel Properties		20,792		711,918
Liberty Property Trust		29,572		983,565
Mack-Cali Realty		17,763		339,451
Mid-America Apartment Communities		15,038		987,245
National Retail Properties		25,427		879,011
Omega Healthcare Investors		25,232		862,682
Potlatch		8,175		328,717
Rayonier		25,333		788,870
Realty Income		45,208		1,844,034
Regency Centers		18,470		994,240
Senior Housing Properties Trust		40,775		853,013
SL Green Realty		19,376		1,963,176
Taubman Centers		12,616		920,968
UDR		50,363		1,372,392
Washington Prime Group		31,086		543,383
Weingarten Realty Investors		22,507		708,971

				27,606,478

Real Estate Management & Development–0.46%
Alexander & Baldwin		9,279		333,766
Jones Lang LaSalle		9,082		1,147,420

				1,481,186

Road & Rail–1.49%
Con-way		11,405		541,737
†Genesee & Wyoming		10,194		971,590
Hunt (J.B.) Transport Services		18,668		1,382,365


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Road & Rail (continued)
Landstar System		8,983	$	648,483
†Old Dominion Freight Line		13,929		983,945
Werner Enterprises		9,084		228,917

				4,757,037

Semiconductors & Semiconductor Equipment–2.99%
†Advanced Micro Devices		129,693		442,253
†Atmel		84,275		680,942
†Cree		24,425		1,000,204
Cypress Semiconductor		29,067		287,037
†Fairchild Semiconductor International		25,030		388,716
†Integrated Device Technology		30,450		485,677
†International Rectifier		14,231		558,424
Intersil Class A		25,737		365,723
†RF Micro Devices		57,327		661,554
†Semtech		13,424		364,462
†Silicon Laboratories		7,974		324,063
Skyworks Solutions		38,449		2,231,964
†SunEdison		50,853		960,105
Teradyne		40,977		794,544

				9,545,668

Software–4.45%
†ACI Worldwide		22,809		427,897
Advent Software		8,882		280,316
†Allscripts Healthcare Solutions		34,594		464,078
†ANSYS		18,571		1,405,268
†Cadence Design Systems		57,933		997,027
†CommVault Systems		8,882		447,653
Compuware		44,005		466,893
†Concur Technologies		9,588		1,215,950
FactSet Research Systems		7,873		956,806
Fair Isaac		6,459		355,891
†Fortinet		27,452		693,575
†Informatica		22,002		753,348
Mentor Graphics		19,378		397,152
†PTC		23,718		875,194
†Rovi		18,974		374,642
†SolarWinds		13,121		551,738
Solera Holdings		13,727		773,654
†Synopsys		31,685		1,257,736
†TIBCO Software		30,582		722,653
†Ultimate Software Group		5,652		799,814

				14,217,285

Specialty Retail–3.96%
Aaron’s		13,233		321,827
Abercrombie & Fitch		14,534		528,166
Advance Auto Parts		14,825		1,931,697
American Eagle Outfitters		34,215		496,802
†ANN		9,386		386,046
†Ascena Retail Group		25,938		344,975
†Cabela’s		9,386		552,835


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Specialty Retail (continued)
Chico’s FAS		30,682	$	453,173
CST Brands		15,139		544,247
Dick’s Sporting Goods		19,883		872,466
Foot Locker		29,168		1,623,199
Guess		13,110		288,027
†Murphy USA		8,882		471,279
†Office Depot		97,396		500,615
Rent-A-Center		10,597		321,619
Signet Jewelers		16,248		1,850,810
Williams-Sonoma		17,561		1,169,036

				12,656,819

Technology Hardware, Storage & Peripherals–0.97%
†3D Systems		20,988		973,214
Diebold		12,919		456,299
Lexmark International Class A		12,515		531,887
†NCR		33,609		1,122,877

				3,084,277

Textiles, Apparel & Luxury Goods–1.36%
Carter’s		10,799		837,138
†Deckers Outdoor		6,964		676,761
Hanesbrands		20,236		2,174,156
†Kate Spade		25,333		664,485

				4,352,540

Thrifts & Mortgage Finance–0.64%
Astoria Financial		16,956		210,085
New York Community Bancorp		88,615		1,406,320
Washington Federal		20,287		413,043

				2,029,448


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Tobacco–0.07%
Universal		4,643	$	206,103

				206,103

Trading Companies & Distributors–0.80%
GATX		9,185		536,128
MSC Industrial Direct		10,387		887,673
†NOW		21,498		653,754
Watsco		5,450		469,681

				2,547,236

Water Utilities–0.26%
Aqua America		35,426		833,574

				833,574

Wireless Telecommunication Services–0.15%
Telephone & Data Systems		19,782		473,977

				473,977


Total Common Stock (Cost $325,757,701)				310,340,234


MONEY MARKET FUND–2.63%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		8,412,027		8,412,027


Total Money Market Fund (Cost $8,412,027)				8,412,027

« Includes $428,800 cash pledged as collateral for futures contracts as of September 30, 2014.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period September 2, 2014* through September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.

For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent Prospectus and Statement of Additional Information.


	Number of Shares		Value (U.S. $)

COMMON STOCK–97.46%
Aerospace & Defense–2.57%
Boeing		246,789	$	31,435,983
General Dynamics		119,580		15,197,422
Honeywell International		287,972		26,815,953
L-3 Communications Holdings		32,476		3,862,046
Lockheed Martin		100,003		18,278,548
Northrop Grumman		78,433		10,334,332
Precision Castparts		53,047		12,565,773
Raytheon		114,701		11,655,916
Rockwell Collins		51,705		4,058,843
Textron		106,522		3,833,727
United Technologies		314,759		33,238,550

				171,277,093

Air Freight & Logistics–0.72%
Expeditors International of Washington		73,776		2,993,830
FedEx		98,403		15,887,164
Robinson (C.H.) Worldwide		57,727		3,828,455
United Parcel Service Class B		259,224		25,479,127

				48,188,576

Airlines–0.30%
Delta Air Lines		310,900		11,239,035
Southwest Airlines		253,081		8,546,545

				19,785,580

Auto Components–0.37%
Borg Warner		85,798		4,513,833
Delphi Automotive		111,624		6,847,016
Goodyear Tire & Rubber		106,437		2,403,880
Johnson Controls		243,437		10,711,228

				24,475,957

Automobiles–0.64%
Ford Motor		1,453,902		21,503,211
General Motors		499,706		15,960,610
Harley-Davidson		83,593		4,865,113

				42,328,934

Banks–5.88%
Bank of America		3,872,501		66,026,142
BB&T		263,126		9,790,918
Citigroup		1,118,562		57,963,883
Comerica		68,952		3,437,947
Fifth Third Bancorp		320,912		6,424,658
Huntington Bancshares		301,320		2,931,844
JPMorgan Chase		1,394,160		83,984,198
KeyCorp		341,495		4,552,128
M&T Bank		49,724		6,130,472
PNC Financial Services Group		200,346		17,145,611
Regions Financial		501,914		5,039,217
SunTrust Banks		194,764		7,406,875
U.S. Bancorp		667,556		27,923,867


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Banks (continued)
Wells Fargo		1,755,682	$	91,067,225
Zions Bancorp		69,942		2,032,515

				391,857,500

Beverages–2.15%
Brown-Forman Class B		61,970		5,590,933
Coca-Cola		1,459,297		62,253,610
Coca-Cola Enterprises		84,832		3,763,148
†Constellation Brands Class A		64,035		5,581,291
Dr Pepper Snapple Group		72,358		4,653,343
Molson Coors Brewing Class B		61,017		4,542,105
†Monster Beverage		51,468		4,718,072
PepsiCo		558,175		51,960,511

				143,063,013

Biotechnology–2.81%
†Alexion Pharmaceuticals		72,505		12,022,779
Amgen		280,957		39,463,220
†Biogen Idec		87,249		28,862,842
†Celgene		294,540		27,916,501
†Gilead Sciences		558,849		59,489,476
†Regeneron Pharmaceuticals		27,462		9,900,600
†Vertex Pharmaceuticals		86,400		9,703,584

				187,359,002

Building Products–0.07%
Allegion		32,825		1,563,783
Masco		128,321		3,069,438

				4,633,221

Capital Markets–2.22%
†Affiliated Managers Group		20,900		4,187,524
Ameriprise Financial		69,482		8,572,689
Bank of New York Mellon		418,703		16,216,367
BlackRock		45,891		15,066,933
†E Trade Financial		109,243		2,467,799
Franklin Resources		146,956		8,025,267
Goldman Sachs Group		152,986		28,083,640
Invesco		157,939		6,235,432
Legg Mason		36,847		1,885,093
Morgan Stanley		567,420		19,615,709
Northern Trust		80,984		5,509,342
Schwab (Charles)		429,425		12,620,801
*State Street		157,890		11,622,283
T. Rowe Price Group		99,135		7,772,184

				147,881,063

Chemicals–2.49%
Air Products & Chemicals		71,299		9,281,704
Airgas		24,651		2,727,633
CF Industries Holdings		18,958		5,293,453
Dow Chemical		415,757		21,802,297
duPont (E.I.) deNemours		337,560		24,223,306


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Chemicals (continued)
Eastman Chemical		57,127	$	4,621,003
Ecolab		99,059		11,374,945
FMC		48,901		2,796,648
International Flavors & Fragrances		29,520		2,830,378
LyondellBasell Industries Class A		157,660		17,131,336
Monsanto		192,652		21,675,277
Mosaic		117,847		5,233,585
PPG Industries		50,628		9,960,553
Praxair		107,484		13,865,436
Sherwin-Williams		31,616		6,923,588
Sigma-Aldrich		45,144		6,140,035

				165,881,177

Commercial Services & Supplies–0.49%
ADT		68,357		2,423,939
Cintas		39,308		2,774,752
Iron Mountain		64,159		2,094,791
Pitney Bowes		79,154		1,978,058
Republic Services		102,237		3,989,288
†Stericycle		32,901		3,834,941
Tyco International		168,563		7,512,853
Waste Management		162,371		7,717,494

				32,326,116

Communications Equipment–1.63%
Cisco Systems		1,885,824		47,466,190
†F5 Networks		28,296		3,359,867
Harris		40,458		2,686,411
Juniper Networks		151,204		3,349,169
Motorola Solutions		85,880		5,434,486
QUALCOMM		621,324		46,456,395

				108,752,518

Construction & Engineering–0.14%
Fluor		61,037		4,076,661
†Jacobs Engineering Group		49,534		2,418,250
†Quanta Services		79,787		2,895,470

				9,390,381

Construction Materials–0.09%
Martin Marietta Materials		23,000		2,965,620
Vulcan Materials		46,963		2,828,581

				5,794,201

Consumer Finance–0.90%
American Express		334,850		29,312,769
Capital One Financial		209,930		17,134,487
Discover Financial Services		170,811		10,998,520
Navient		158,964		2,815,252

				60,261,028

Containers & Packaging–0.20%
Avery Dennison		37,443		1,671,830
Ball		53,878		3,408,861


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Containers & Packaging (continued)
Bemis		39,518	$	1,502,474
MeadWestvaco		63,735		2,609,311
†Owens-Illinois		62,482		1,627,656
Sealed Air		71,497		2,493,815

				13,313,947

Distributors–0.08%
Genuine Parts		57,441		5,038,150

				5,038,150

Diversified Consumer Services–0.05%
Block (H&R)		101,214		3,138,646

				3,138,646

Diversified Financial Services–1.96%
†Berkshire Hathaway Class B		673,669		93,060,636
CME Group		115,453		9,231,045
IntercontinentalExchange Group		42,126		8,216,676
Leucadia National		117,225		2,794,644
McGraw-Hill Financial		102,479		8,654,352
Moody’s		70,942		6,704,019
NASDAQ OMX Group		44,277		1,878,230

				130,539,602

Diversified Telecommunication Services–2.36%
AT&T		1,911,440		67,359,146
CenturyLink		209,603		8,570,667
Frontier Communications		386,549		2,516,434
Verizon Communications		1,532,158		76,592,578
Windstream Holdings		224,992		2,425,414

				157,464,239

Electric Utilities–1.65%
American Electric Power		184,078		9,610,712
Duke Energy		259,848		19,428,835
Edison International		119,004		6,654,704
Entergy		65,272		5,047,484
Exelon		314,656		10,726,623
FirstEnergy		160,606		5,391,543
NextEra Energy		160,058		15,026,245
Northeast Utilities		115,074		5,097,778
Pepco Holdings		94,909		2,539,765
Pinnacle West Capital		39,983		2,184,671
PPL		246,398		8,091,710
Southern		326,926		14,270,320
Xcel Energy		182,977		5,562,501

				109,632,891

Electrical Equipment–0.56%
AMETEK		94,000		4,719,740
Eaton		174,817		11,078,153
Emerson Electric		257,730		16,128,743


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Electrical Equipment (continued)
Rockwell Automation		50,490	$	5,547,841

				37,474,477

Electronic Equipment, Instruments & Components–0.40%
Amphenol Class A		58,866		5,878,359
Corning		479,260		9,268,888
FLIR Systems		54,550		1,709,597
Jabil Circuit		71,087		1,433,825
TE Connectivity		149,611		8,271,992

				26,562,661

Energy Equipment & Services–1.77%
Baker Hughes		159,797		10,396,393
†Cameron International		77,200		5,124,536
Diamond Offshore Drilling		26,952		923,645
ENSCO Class A		84,759		3,501,394
†FMC Technologies		87,516		4,752,994
Halliburton		310,337		20,019,840
Helmerich & Payne		41,008		4,013,453
Nabors Industries		109,589		2,494,246
National Oilwell Varco		157,390		11,977,379
Noble		95,163		2,114,522
Schlumberger		479,455		48,755,779
Transocean		129,100		4,127,327

				118,201,508

Food & Staples Retailing–2.17%
Costco Wholesale		161,048		20,182,535
CVS Health		430,221		34,241,289
Kroger		186,623		9,704,396
Safeway		87,180		2,990,274
Sysco		213,818		8,114,393
Walgreen		322,662		19,124,177
Wal-Mart Stores		583,995		44,658,098
Whole Foods Market		138,400		5,274,424

				144,289,586

Food Products–1.55%
Archer-Daniels-Midland		239,923		12,260,065
Campbell Soup		65,950		2,818,043
ConAgra Foods		153,252		5,063,446
General Mills		225,312		11,366,990
Hershey		55,230		5,270,599
Hormel Foods		49,436		2,540,516
Kellogg		92,977		5,727,383
Keurig Green Mountain		47,400		6,168,162
Kraft Foods Group		218,324		12,313,474
McCormick		50,719		3,393,101
Mead Johnson Nutrition		73,859		7,106,713
Mondelez International Class A		621,708		21,302,825
Smucker (J.M.)		39,447		3,904,859
Tyson Foods Class A		108,650		4,277,551

				103,513,727


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Gas Utilities–0.03%
AGL Resources		44,483	$	2,283,757

				2,283,757

Health Care Equipment & Supplies–1.99%
Abbott Laboratories		552,203		22,966,123
Bard (C.R.)		29,037		4,143,870
Baxter International		199,135		14,291,919
Becton, Dickinson		70,644		8,039,994
†Boston Scientific		482,087		5,693,447
†CareFusion		80,327		3,634,797
Covidien		165,421		14,310,571
DENTSPLY International		52,175		2,379,180
†Edwards Lifesciences		38,208		3,902,947
†Intuitive Surgical		13,123		6,060,464
Medtronic		367,226		22,749,651
St. Jude Medical		103,742		6,238,006
Stryker		108,212		8,738,119
†Varian Medical Systems		38,832		3,111,220
Zimmer Holdings		62,590		6,293,425

				132,553,733

Health Care Providers & Services–2.11%
Aetna		130,944		10,606,464
AmerisourceBergen		79,578		6,151,379
Cardinal Health		124,561		9,332,110
Cigna		98,356		8,919,906
†DaVita HealthCare Partners		64,628		4,726,892
†Express Scripts Holding		276,132		19,503,203
Humana		56,532		7,365,554
†Laboratory Corporation of America Holdings		33,047		3,362,532
McKesson		84,687		16,486,018
Patterson		32,124		1,330,897
Quest Diagnostics		56,111		3,404,815
†Tenet Healthcare		38,968		2,314,310
UnitedHealth Group		360,446		31,088,468
Universal Health Services Class B		34,300		3,584,350
WellPoint		102,588		12,271,577

				140,448,475

Health Care Technology–0.10%
†Cerner		112,229		6,685,482

				6,685,482

Hotels, Restaurants & Leisure–1.57%
Carnival		159,991		6,426,838
†Chipotle Mexican Grill		11,322		7,547,132
Darden Restaurants		47,030		2,420,164
Marriott International Class A		79,983		5,590,812
McDonald’s		363,718		34,484,104
Starbucks		276,703		20,880,008
Starwood Hotels & Resorts Worldwide		72,105		5,999,857
Wyndham Worldwide		49,773		4,044,554


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Hotels, Restaurants & Leisure (continued)
Wynn Resorts		30,950	$	5,790,126
Yum Brands		161,824		11,648,092

				104,831,687

Household Durables–0.38%
D.R.Horton		125,474		2,574,726
Garmin		46,124		2,397,987
Harman International Industries		26,206		2,569,236
Leggett & Platt		54,436		1,900,905
Lennar Class A		68,643		2,665,408
†Mohawk Industries		23,700		3,195,234
Newell Rubbermaid		104,404		3,592,542
PulteGroup		130,341		2,301,822
Whirlpool		29,808		4,341,535

				25,539,395

Household Products–1.86%
Clorox		48,985		4,704,519
Colgate-Palmolive		319,552		20,841,181
Kimberly-Clark		138,331		14,880,266
Procter & Gamble		1,000,768		83,804,312

				124,230,278

Independent Power and Renewable Electricity Producers–0.11%
AES		248,215		3,519,689
NRG Energy		124,455		3,793,388

				7,313,077

Industrial Conglomerates–2.27%
3M		239,771		33,970,755
Danaher		226,001		17,171,556
General Electric		3,708,069		95,000,728
Roper Industries		36,364		5,319,690

				151,462,729

Insurance–2.72%
ACE		123,897		12,993,078
AFLAC		166,311		9,687,616
Allstate		158,872		9,749,975
American International Group		532,144		28,746,419
Aon		108,596		9,520,611
Assurant		25,316		1,627,819
Chubb		89,393		8,141,914
Cincinnati Financial		52,875		2,487,769
†Genworth Financial		184,251		2,413,688
Hartford Financial Services Group		169,489		6,313,465
ßLincoln National		100,436		5,381,361
Loews		114,208		4,757,905
Marsh & McLennan		201,369		10,539,653
MetLife		413,715		22,224,770
Principal Financial Group		102,533		5,379,906
Progressive		201,918		5,104,487
Prudential Financial		169,625		14,916,823


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Insurance (continued)
Torchmark		51,379	$	2,690,718
Travelers		127,406		11,968,520
Unum Group		98,811		3,397,122
XL Group		105,842		3,510,779

				181,554,398

Internet & Catalog Retail–1.27%
†Amazon.com		140,158		45,192,546
Expedia		40,249		3,526,617
†NetFlix		22,000		9,925,960
†Priceline Group		19,275		22,331,629
†TripAdvisor		42,134		3,851,890

				84,828,642

Internet Software & Services–3.36%
†Akamai Technologies		68,403		4,090,499
†eBay		419,244		23,741,788
†Facebook Class A		721,000		56,987,840
†Google Class A		105,020		61,794,818
†Google Class C		105,020		60,634,347
†VeriSign		46,087		2,540,315
†Yahoo		343,523		13,998,562

				223,788,169

IT Services–3.19%
Accenture Class A		232,567		18,912,348
†Alliance Data Systems		19,700		4,890,919
Automatic Data Processing		176,968		14,702,501
†Cognizant Technology Solutions Class A		222,916		9,979,949
Computer Sciences		54,985		3,362,333
Fidelity National Information Services		107,989		6,079,781
†Fiserv		90,912		5,876,097
International Business Machines		342,963		65,104,666
MasterCard Class A		364,320		26,930,534
Paychex		117,776		5,205,699
†Teradata		58,728		2,461,878
Total System Services		62,868		1,946,393
Visa Class A		182,082		38,850,836
Western Union		201,787		3,236,663
Xerox		397,885		5,264,019

				212,804,616

Leisure Products–0.10%
Hasbro		43,184		2,374,904
Mattel		129,668		3,974,324

				6,349,228

Life Sciences Tools & Services–0.45%
Agilent Technologies		121,737		6,936,574
PerkinElmer		42,975		1,873,710
Thermo Fisher Scientific		146,553		17,835,500


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Life Sciences Tools & Services (continued)
†Waters		30,816	$	3,054,482

				29,700,266

Machinery–1.55%
Caterpillar		229,481		22,725,503
Cummins		64,529		8,516,537
Deere		133,300		10,929,267
Dover		63,651		5,113,085
Flowserve		52,084		3,672,964
Illinois Tool Works		139,219		11,752,868
Ingersoll-Rand		99,875		5,628,955
Joy Global		39,734		2,167,092
PACCAR		129,655		7,374,128
Pall		42,008		3,516,070
Parker Hannifin		56,882		6,493,080
Pentair		74,894		4,904,808
Snap-on		21,775		2,636,517
Stanley Black & Decker		59,240		5,259,920
Xylem		70,173		2,490,440

				103,181,234

Media–3.43%
Cablevision Systems Class A		83,041		1,454,048
CBS Class B		178,603		9,555,261
Comcast Class A		957,272		51,482,088
†DIRECTV		186,196		16,109,678
†Discovery Communications Class A		56,243		2,125,985
†Discovery Communications Class C		102,543		3,822,803
Disney (Walt)		583,990		51,992,630
Gannett		85,605		2,539,900
Interpublic Group		163,980		3,004,114
†News Class A		192,890		3,153,751
Omnicom Group		94,397		6,500,177
Scripps Networks Interactive Class A		40,253		3,143,357
Time Warner		316,533		23,806,447
Time Warner Cable		102,223		14,667,978
Twenty-First Century Fox Class A		704,057		24,142,115
Viacom Class B		143,423		11,034,966

				228,535,298

Metals & Mining–0.48%
Alcoa		444,481		7,151,699
Allegheny Technologies		41,671		1,545,994
Freeport-McMoRan Copper & Gold		381,061		12,441,642
Newmont Mining		181,232		4,177,398
Nucor		121,543		6,597,354

				31,914,087

Multiline Retail–0.66%
†Dollar General		110,729		6,766,649
†Dollar Tree		78,360		4,393,645
Family Dollar Stores		34,715		2,681,387
Kohl’s		74,603		4,553,021


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Multiline Retail (continued)
Macy’s		131,817	$	7,669,113
Nordstrom		53,611		3,665,384
Target		232,438		14,569,214

				44,298,413

Multi-Utilities–1.12%
Ameren		89,301		3,422,907
CenterPoint Energy		160,835		3,935,632
CMS Energy		102,838		3,050,175
Consolidated Edison		111,112		6,295,606
Dominion Resources		213,510		14,751,406
DTE Energy		64,392		4,898,943
Integrys Energy Group		30,336		1,966,380
NiSource		119,895		4,913,297
PG&E		169,973		7,655,584
Public Service Enterprise Group		191,489		7,131,050
SCANA		56,506		2,803,263
Sempra Energy		83,388		8,787,427
TECO Energy		78,862		1,370,622
Wisconsin Energy		87,134		3,746,762

				74,729,054

Oil, Gas & Consumable Fuels–7.66%
Anadarko Petroleum		185,627		18,830,003
Apache		141,526		13,285,046
Cabot Oil & Gas		151,896		4,965,480
Chesapeake Energy		189,605		4,359,019
Chevron		701,234		83,671,241
Cimarex Energy		33,400		4,226,102
ConocoPhillips		451,810		34,572,501
CONSOL Energy		88,332		3,344,250
Denbury Resources		135,238		2,032,627
Devon Energy		140,414		9,573,427
EOG Resources		200,802		19,883,414
EQT		55,307		5,062,803
Exxon Mobil		1,580,910		148,684,585
Hess		96,620		9,113,198
Kinder Morgan		244,681		9,381,070
Marathon Oil		247,629		9,308,374
Marathon Petroleum		105,710		8,950,466
Murphy Oil		62,565		3,560,574
†Newfield Exploration		53,397		1,979,427
Noble Energy		131,485		8,988,315
Occidental Petroleum		288,998		27,787,158
ONEOK		77,377		5,072,062
Phillips 66		207,871		16,901,991
Pioneer Natural Resources		52,414		10,323,986
QEP Resources		67,867		2,088,946
Range Resources		61,306		4,157,160
†Southwestern Energy		128,450		4,489,328
Spectra Energy		245,690		9,645,789
Tesoro		50,861		3,101,504


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Oil, Gas & Consumable Fuels (continued)
Valero Energy		195,445	$	9,043,240
Williams		249,518		13,810,821

				510,193,907

Paper & Forest Products–0.11%
International Paper		158,401		7,562,064

				7,562,064

Personal Products–0.12%
Avon Products		154,102		1,941,685
Estee Lauder Class A		83,967		6,274,014

				8,215,699

Pharmaceuticals–6.06%
AbbVie		585,010		33,790,178
†Actavis		97,286		23,473,166
Allergan		115,282		20,542,100
Bristol-Myers Squibb		609,626		31,200,659
†Hospira		60,371		3,141,103
Johnson & Johnson		1,042,281		111,096,732
Lilly (Eli)		362,152		23,485,557
†Mallinckrodt		43,500		3,921,525
Merck		1,066,381		63,215,066
†Mylan		136,405		6,205,063
Perrigo		50,651		7,607,274
Pfizer		2,349,248		69,467,263
Zoetis		182,921		6,758,931

				403,904,617

Professional Services–0.19%
Dun & Bradstreet		13,178		1,548,020
Equifax		46,918		3,506,651
Nielsen Holdings		116,200		5,151,146
Robert Half International		52,417		2,568,433

				12,774,250

Real Estate Investment Trusts–2.11%
American Tower		145,203		13,595,357
Apartment Investment & Management		56,213		1,788,698
AvalonBay Communities		48,948		6,900,200
Boston Properties		58,012		6,715,469
CBS Outdoor Americas		3		90
Crown Castle International		122,265		9,846,000
Equity Residential		134,642		8,291,254
Essex Property Trust		22,700		4,057,625
General Growth Properties		234,500		5,522,475
HCP		167,423		6,648,367
Health Care REIT		120,701		7,528,121
Host Hotels & Resorts		276,151		5,890,301
Kimco Realty		157,245		3,445,238
Macerich		53,910		3,441,075
Plum Creek Timber		66,586		2,597,520
Prologis		182,589		6,883,605


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Real Estate Investment Trusts (continued)
Public Storage		54,551	$	9,046,738
Simon Property Group		114,148		18,768,214
Ventas		107,495		6,659,315
Vornado Realty Trust		65,974		6,594,761
Weyerhaeuser		192,110		6,120,625

				140,341,048

Real Estate Management & Development–0.05%
†CBRE Group Class A		106,176		3,157,674

				3,157,674

Road & Rail–1.01%
CSX		368,204		11,804,620
Kansas City Southern		41,238		4,998,046
Norfolk Southern		113,532		12,670,171
Ryder System		20,186		1,816,134
Union Pacific		333,302		36,136,603

				67,425,574

Semiconductors & Semiconductor Equipment–2.38%
Altera		118,527		4,240,896
Analog Devices		118,522		5,865,654
Applied Materials		445,853		9,634,883
Avago Technologies		95,300		8,291,100
Broadcom Class A		200,172		8,090,952
†First Solar		24,332		1,601,289
Intel		1,833,228		63,832,999
KLA-Tencor		63,621		5,012,062
Lam Research		61,450		4,590,315
Linear Technology		90,133		4,001,004
Microchip Technology		74,303		3,509,331
†Micron Technology		392,559		13,449,071
NVIDIA		202,410		3,734,465
Texas Instruments		396,524		18,910,230
Xilinx		97,555		4,131,454

				158,895,705

Software–3.72%
†Adobe Systems		175,500		12,142,845
†Autodesk		86,803		4,782,845
CA		117,419		3,280,687
†Citrix Systems		59,456		4,241,591
†Electronic Arts		115,779		4,122,890
Intuit		103,840		9,101,576
Microsoft		3,054,588		141,610,700
Oracle		1,202,578		46,034,686
†Red Hat		69,303		3,891,363
†salesforce.com		213,736		12,296,232
Symantec		260,525		6,124,943

				247,630,358

Specialty Retail–2.08%
†AutoNation		24,806		1,247,990


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Specialty Retail (continued)
†AutoZone		12,127	$	6,180,647
†Bed Bath & Beyond		74,226		4,886,298
Best Buy		101,077		3,395,176
†CarMax		85,509		3,971,893
GameStop Class A		44,363		1,827,756
Gap		102,650		4,279,479
Home Depot		497,785		45,666,796
L Brands		93,343		6,252,114
Lowe’s		366,397		19,389,729
†O’Reilly Automotive		40,557		6,098,151
PETsMART		38,630		2,707,577
Ross Stores		80,713		6,100,289
Staples		241,935		2,927,414
Tiffany & Co.		41,715		4,017,572
TJX		257,046		15,209,412
Tractor Supply		50,700		3,118,557
†Urban Outfitters		41,817		1,534,684

				138,811,534

Technology Hardware, Storage & Peripherals–4.47%
Apple		2,219,489		223,613,517
EMC		752,467		22,017,184
Hewlett-Packard		688,076		24,406,056
NetApp.		123,943		5,324,591
SanDisk		82,727		8,103,110
Seagate Technology		119,272		6,830,707
Western Digital		78,752		7,664,145

				297,959,310

Textiles, Apparel & Luxury Goods–0.81%
Coach		102,134		3,636,992
†Fossil Group		19,083		1,791,894
†Michael Kors Holdings		76,700		5,475,613
NIKE Class B		260,534		23,239,633
PVH		30,633		3,711,188
Ralph Lauren		22,772		3,751,232
†Under Armour Class A		60,200		4,159,820
VF		125,952		8,316,611

				54,082,983

Thrifts & Mortgage Finance–0.05%
Hudson City Bancorp		183,952		1,788,013
People’s United Financial		108,817		1,574,582

				3,362,595


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Tobacco–1.46%
Altria Group		730,801	$	33,572,998
Lorillard		136,267		8,163,756
Philip Morris International		579,016		48,289,934
Reynolds American		117,960		6,959,640

				96,986,328

Trading Companies & Distributors–0.21%
Fastenal		104,703		4,701,165
Grainger (W.W.)		22,153		5,574,802
†United Rentals		36,000		3,999,600

				14,275,567


Total Common Stock (Cost $4,549,000,719)				6,495,036,025


MONEY MARKET FUND–2.17%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		144,630,318		144,630,318

Total Money Market Fund (Cost $144,630,318)				144,630,318


	Principal Amount°

SHORT-TERM INVESTMENTS–0.20%
≠U.S. Treasury Obligations–0.20%
U.S. Treasury Bill
¥0.005% 10/9/14		660,000		659,999
¥0.013% 11/6/14		11,895,000		11,894,845
U.S. Treasury Bills
¥0.015% 10/23/14		1,065,000		1,064,991


Total Short-Term Investments (Cost $13,619,841)				13,619,835

ß Considered an affiliated company. Investments in companies considered to be affiliates of the Fund were as follows:

° Principal amount shown is stated in U.S. dollars unless noted that the security is denominated in another currency.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:


	Number of Shares		Value (U.S. $)

COMMON STOCK–98.39%
Aerospace & Defense–1.72%
AAR		28,698	$	693,057
AeroVironment		14,181		426,423
American Science & Engineering		6,301		348,949
†Astronics		11,230		535,446
†Astronics Class B		2,246		106,685
Cubic		16,317		763,636
Curtiss-Wright		36,944		2,435,348
†DigitalGlobe		58,566		1,669,131
†Ducommun		6,800		186,388
†Engility Holdings		13,900		433,263
†Erickson		7,600		98,724
†Esterline Technologies		24,522		2,728,563
†GenCorp		43,868		700,572
HEICO		51,318		2,396,551
†KEYW Holding		20,408		225,917
†Kratos Defense & Security Solutions		39,750		260,760
†LMI Aerospace		5,541		70,925
†Moog Class A		34,081		2,331,140
National Presto Industries		4,172		253,282
†Orbital Sciences		45,655		1,269,209
†Sparton		6,600		162,690
†TASER International		44,445		686,231
†Teledyne Technologies		28,864		2,713,505

				21,496,395

Air Freight & Logistics–0.49%
†Air Transport Services Group		43,976		320,145
†Atlas Air Worldwide Holdings		18,320		604,926
†Echo Global Logistics		20,591		484,918
Forward Air		23,239		1,041,804
†Hub Group Class A		28,044		1,136,623
Park-Ohio Holdings		7,516		359,716
†UTi Worldwide		67,000		712,210
†XPO Logistics		39,818		1,499,944

				6,160,286

Airlines–0.36%
Allegiant Travel		10,984		1,358,281
†Hawaiian Holdings		32,625		438,806
†JetBlue Airways		192,383		2,043,107
†Republic Airways Holdings		35,949		399,393
SkyWest		37,292		290,132

				4,529,719

Auto Components–1.10%
†American Axle & Manufacturing
Holdings		53,181		891,845
Cooper Tire & Rubber		49,217		1,412,528
†Cooper-Standard Holding		9,900		617,760
Dana Holdings		117,072		2,244,270
†Dorman Products		19,373		776,082
Drew Industries		18,704		789,122
†Federal-Mogul Class A		25,034		372,256


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Auto Components (continued)
†Fox Factory Holding		6,400	$	99,200
†Fuel Systems Solutions		8,782		78,248
†Gentherm		27,606		1,165,801
†Modine Manufacturing		39,264		466,064
†Motorcar Parts of America		14,700		399,987
Remy International		9,000		184,770
†Shiloh Industries		8,074		137,339
Spartan Motors		20,504		95,754
Standard Motor Products		14,451		497,548
†Stoneridge		17,031		191,939
Strattec Security		2,500		203,375
Superior Industries International		19,207		336,699
†Tenneco		46,977		2,457,367
†Tower International		14,920		375,835

				13,793,789

Automobiles–0.04%
†Winnebago Industries		20,373		443,520

				443,520

Banks–7.42%
1st Source		12,359		351,984
1st United Bancorp		16,067		136,891
American National Bankshares		4,395		99,986
Ameris Bancorp		19,579		429,759
Ames National		4,997		111,683
Arrow Financial		6,316		158,338
Banc of California		27,838		323,756
Bancfirst		5,593		349,898
Banco Latinoamericano de
Exportacions		23,658		725,827
†Bancorp		26,347		226,321
BancorpSouth		74,631		1,503,068
Bank of Kentucky Financial		5,495		254,034
Bank of Marin Bancorp		5,149		236,288
Bank of the Ozarks		61,620		1,942,262
Banner		16,019		616,251
BBCN Bancorp		62,633		913,815
†Blue Hills Bancorp		24,053		315,575
BNC Bancorp		17,200		269,352
Boston Private Financial Holdings		63,438		785,997
Bridge Bancorp		10,192		241,041
†Bridge Capital Holdings		6,125		139,283
Bryn Mawr Bank		9,064		256,783
Camden National		4,258		149,030
†Capital Bank Financial		19,770		472,108
Capital City Bank Group		6,384		86,439
Cardinal Financial		23,521		401,503
†Cascade Bancorp		18,443		93,137
Cathay General Bancorp		58,603		1,455,112
Centerstate Banks of Florida		32,205		333,322
Central Pacific Financial		18,230		326,864


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Banks (continued)
Century Bancorp Class A		2,361	$	81,738
Chemical Financial		24,012		645,683
Citizens & Northern		7,361		139,859
City Holding		11,497		484,369
CNB Financial		12,991		203,959
CoBiz Financial		29,853		333,757
Columbia Banking System		40,283		999,421
Community Bank System		31,446		1,056,271
Community Trust Bancorp		11,746		395,018
†CommunityOne Bancorp		5,605		49,436
Connectone Bancorp		19,969		380,409
†CU Bancorp		6,000		112,800
†Customers Bancorp		22,280		400,149
CVB Financial		82,759		1,187,592
†Eagle Bancorp		16,509		525,316
Enterprise Bancorp		3,260		61,418
Enterprise Financial Services		15,538		259,795
Fidelity Southern		12,915		176,935
Financial Institutions		11,888		267,242
First Bancorp (Maine)		5,538		92,318
First Bancorp (North Carolina)		13,185		211,224
†First Bancorp (Puerto Rico)		87,135		413,891
First Busey		57,291		319,111
First Business Financial Services		2,900		127,310
First Citizens BancShares Class A		5,900		1,278,117
First Commonwealth Financial		71,539		600,212
First Community Bancshares		10,063		143,800
First Connecticut Bancorp		9,428		136,706
First Financial		7,859		243,236
First Financial Bancorp		41,273		653,352
First Financial Bankshares		46,814		1,300,961
First Interstate Bancsystem		13,498		358,642
First Merchants		25,783		521,074
First Midwest Bancorp		59,255		953,413
†First NBC Bank Holding		10,800		353,700
First of Long Island		4,757		163,879
FirstMerit		126,707		2,230,043
Flushing Financial		22,130		404,315
FNB		129,084		1,547,717
German American Bancorp		10,082		260,216
Glacier Bancorp		57,874		1,496,622
Great Southern Bancorp		8,370		253,946
†Green Bancorp		5,400		92,610
Guaranty Bancorp		8,468		114,403
Hancock Holding		63,664		2,040,431
Hanmi Financial		23,620		476,179
Heartland Financial USA		12,338		294,631
Heritage Commerce		11,254		92,395
Heritage Financial		23,755		376,279
Heritage Oaks Bancorp		11,216		78,512
Home Bancshares		42,314		1,244,455
†HomeTrust Bancshares		12,977		189,594


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Banks (continued)
Horizon Bancorp		8,337	$	192,084
Hudson Valley Holding		14,338		260,235
Iberiabank		24,404		1,525,494
Independent Bank		16,600		197,872
@Independent Bank (Massachusetts)		19,284		688,824
Independent Bank Group		6,600		313,170
International Bancshares		42,164		1,039,975
Investors Bancorp		272,886		2,764,335
Lakeland Bancorp		24,478		238,905
Lakeland Financial		12,278		460,425
Macatawa Bank		25,100		120,480
MainSource Financial Group		13,420		231,495
MB Financial		50,426		1,395,792
Mercantile Bank		15,733		299,714
Merchants Bancshares		2,742		77,297
†Meridian Bancorp		14,154		149,466
†Metro Bancorp		9,010		218,493
MidSouth Bancorp		4,611		86,226
MidWestOne Financial Group		3,742		86,103
National Bank Holdings Class A		29,752		568,858
National Bankshares		3,739		103,795
National Penn Bancshares		87,213		846,838
NBT Bancorp		30,839		694,494
†NewBridge Bancorp		24,200		183,678
Northrim BanCorp		3,625		95,809
OFG Bancorp		34,188		512,136
Old Line Bancshares		7,600		117,648
Old National Bancorp		89,825		1,165,030
OmniAmerican Bancorp		10,653		276,871
†Opus Bank		5,800		177,654
Pacific Continental		11,170		143,535
†Pacific Premier Bancorp		9,900		139,095
Park National		10,376		782,558
Park Sterling		28,633		189,837
Peapack Gladstone Financial		6,291		110,093
Penns Woods Bancorp		2,776		117,286
Peoples Bancorp		9,640		228,950
Peoples Financial Services		5,500		252,945
Pinnacle Financial Partners		28,204		1,018,164
Preferred Bank		10,329		232,609
PrivateBancorp		55,505		1,660,155
Prosperity Bancshares		52,951		3,027,209
Renasant		23,696		640,977
Republic Bancorp Class A		6,086		144,177
†Republic First Bancorp		13,200		51,348
S&T Bancorp		22,456		526,818
Sandy Spring Bancorp		17,313		396,295
†Seacoast Banking Corp of Florida		17,844		195,035
Sierra Bancorp		8,220		137,767
Simmons First National Class A		13,141		506,191
South State		18,891		1,056,385
Southside Bancshares		15,308		508,991


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Banks (continued)
Southwest Bancorp		11,998	$	196,767
†Square 1 Financial Class A		7,900		151,917
State Bank Financial		24,628		399,959
Sterling Bancorp		60,633		775,496
Stock Yards Bancorp		13,055		392,956
Stonegate Bank		7,200		185,400
Suffolk Bancorp		11,049		214,461
†Sun Bancorp		5,281		95,639
Susquehanna Bancshares		144,710		1,447,100
Talmer Bancorp Class A		12,700		175,641
†Texas Capital Bancshares		32,215		1,858,161
Tompkins Financial		10,897		480,340
TowneBank		22,265		302,359
Trico Bancshares		13,253		299,783
†Tristate Capital Holdings		22,700		205,889
Trustmark		50,179		1,155,873
UMB Financial		29,282		1,597,333
Umpqua Holdings		125,781		2,071,613
Union Bankshares		36,631		846,176
United Bankshares		52,235		1,615,629
United Community Banks		35,856		590,190
Univest Corp. of Pennsylvania		13,432		251,850
Valley National Bancorp		155,900		1,510,671
ViewPoint Financial Group		30,227		723,634
Washington Trust Bancorp		9,675		319,178
Webster Financial		67,353		1,962,666
Wesbanco		18,526		566,710
West Bancorporation		8,863		125,234
Westamerica Bancorporation		19,981		929,516
†Western Alliance Bancorp		56,190		1,342,941
Wilshire Bancorp		47,547		438,859
Wintrust Financial		36,007		1,608,433
†Yadkin Financial		18,486		335,706

				92,859,864

Beverages–0.16%
†Boston Beer Class A		6,516		1,444,988
Coca-Cola Bottling Consolidated		4,013		299,490
†Craft Brewers Alliance		6,450		92,880
†National Beverage		6,867		133,907

				1,971,265

Biotechnology–4.73%
†ACADIA Pharmaceuticals		58,900		1,458,364
†Acceleron Pharma		11,900		359,856
†Achillion Pharmaceuticals		79,872		797,123
†Acorda Therapeutics		31,971		1,083,177
†Actinium Pharmaceuticals		14,300		95,810
†Aegerion Pharmaceuticals		21,043		702,415
†Agenus		45,000		139,950
†Agios Pharmaceuticals		9,800		601,230
†Akebia Therapeutics		5,700		126,141


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Biotechnology (continued)
†Alder Biopharmaceuticals		9,900	$	125,532
†AMAG Pharmaceuticals		16,729		533,822
†Anacor Pharmaceuticals		23,851		583,634
†Applied Genetic Technologies		6,000		111,660
†Arena Pharmaceuticals		166,743		698,653
†ARIAD Pharmaceuticals		119,300		644,220
†Array BioPharma		84,233		300,712
†Arrowhead Research		37,500		553,875
†Auspex Pharmaceuticals		5,700		146,319
†Avalanche Biotechnologies		5,100		174,369
†BioCryst Pharmaceuticals		50,700		495,846
†BioSpecifics Technologies		3,700		130,610
†Biotime		49,144		154,312
†Bluebird Bio		17,400		624,312
†Celldex Therapeutics		64,640		837,734
†Cellular Dynamics International		6,100		42,883
†Cepheid		53,506		2,355,869
†ChemoCentryx		15,750		70,875
†Chimerix		19,500		538,590
†Clovis Oncology		17,835		808,996
†CTI BioPharma		108,200		261,844
†Cytokinetics		15,866		55,848
†Cytori Therapeutics		30,696		20,751
†CytRx.		40,400		102,616
†Dendreon		112,469		161,955
†Durata Therapeutics		14,227		180,398
†Dyax		106,531		1,078,094
†Dynavax Technologies		221,574		316,851
†Emergent BioSolutions		24,548		523,118
†Enanta Pharmaceuticals		7,500		296,775
†Epizyme		9,300		252,123
†Exact Sciences		64,450		1,249,041
†Exelixis		130,268		199,310
†Five Prime Therapeutics		17,600		206,448
†Foundation Medicine		12,400		235,104
†Galectin Therapeutics		13,000		65,390
†Galena Biopharma		84,600		174,276
†Genomic Health		11,777		333,407
†Geron		101,244		202,488
†Halozyme Therapeutic		82,043		746,591
†Heron Therapeutics		14,100		117,453
†Hyperion Therapeutics		8,334		210,183
†Idera Pharmaceuticals		43,600		99,844
†Immunogen		67,993		720,046
†Immunomedics		64,026		238,177
†Infinity Pharmaceuticals		39,224		526,386
†Inovio Pharmaceuticals		43,500		428,475
†Insmed		40,000		522,000
†Insys Therapeutics		6,450		250,131
†Intrexon		25,800		479,364
†Ironwood Pharmaceuticals		91,072		1,179,838
†Isis Pharmaceuticals		89,741		3,484,643


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Biotechnology (continued)
†Karyopharm Therapeutics		9,000	$	314,460
†Keryx Biopharmaceuticals		67,387		926,571
†Kindred Biosciences		11,000		101,750
†KYTHERA Biopharmaceuticals		14,446		473,251
†Lexicon Pharmaceutical		168,816		238,031
†Ligand Pharmaceuticals Class B		14,965		703,205
†MacroGenics		14,500		303,050
†MannKind		165,036		975,363
†Merrimack Pharmaceuticals		79,570		698,625
†MiMedx Group		71,800		511,934
†Momenta Pharmaceuticals		34,182		387,624
†NanoViricides		29,000		87,000
†Navidea Biopharmaceuticals		114,850		151,602
†Neuralstem		49,800		163,344
†Neurocrine Biosciences		58,953		923,794
†NewLink Genetics		16,447		352,295
†Northwest Biotherapeutics		25,700		129,271
†Novavax		170,136		709,467
†NPS Pharmaceuticals		81,405		2,116,530
†Ohr Pharmaceutical		15,200		110,200
†OncoMed Pharmaceuticals		12,100		229,053
†Oncothyreon		51,200		98,304
†Ophthotech		11,900		463,267
†Opko Health		153,839		1,309,170
†Orexigen Therapeutics		91,320		389,023
†Organovo Holdings		45,200		287,924
†Osiris Therapeutics		15,147		190,701
†OvaScience		12,700		210,820
PDL BioPharma		126,481		944,813
†Peregrine Pharmaceuticals		135,900		184,824
†Portola Pharmaceuticals		26,700		674,976
†Progenics Pharmaceuticals		47,098		244,439
†Prothena		19,700		436,552
†PTC Therapeutics		16,100		708,561
†Puma Biotechnology		17,800		4,246,677
†Raptor Pharmaceutical		50,730		486,501
†Receptos		14,600		906,806
†Regulus Therapeutics		6,327		43,213
†Repligen		26,525		528,113
†Retrophin		13,400		120,868
†Rigel Pharmaceuticals		61,674		119,648
†Sage Therapeutics		5,400		170,100
†Sangamo Biosciences		54,589		588,742
†Sarepta Therapeutics		32,100		677,310
†Spectrum Pharmaceuticals		44,725		364,061
†Stemline Therapeutics		5,900		73,514
†Sunesis Pharmaceuticals		39,097		279,153
†Synageva BioPharma		15,607		1,073,449
†Synergy Pharmaceuticals		86,618		241,231
†Synta Pharmaceuticals		46,890		141,139
†TESARO		13,204		355,452
†TG Therapeutics		20,600		219,802


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Biotechnology (continued)
†Threshold Pharmaceuticals		48,147	$	173,811
†Ultragenyx Pharmaceutical		4,700		266,020
†Vanda Pharmaceuticals		26,781		277,987
†Veracyte		4,300		41,925
†Verastem		14,603		124,418
†Versartis		5,000		94,950
†Xencor		17,700		164,787
†XOMA		58,070		244,475
†ZIOPHARM Oncology		71,434		188,586

				59,178,389

Building Products–0.75%
AAON		30,717		522,496
†American Woodmark		9,775		360,307
Apogee Enterprises		22,947		913,291
†Builders FirstSource		41,066		223,810
†Continental Building Products		9,600		140,160
†Gibraltar Industries		23,856		326,589
Griffon		35,364		402,796
Insteel Industries		15,439		317,426
†Masonite International		23,000		1,273,740
†NCI Building Systems		20,291		393,645
†Norcraft		6,800		108,460
†Nortek		7,276		542,062
†Patrick Industries		6,101		258,438
†PGT		43,195		402,577
†Ply Gem Holdings		19,100		207,044
Quanex Building Products		26,652		482,135
Simpson Manufacturing		31,889		929,564
†Trex		24,694		853,672
Trinseo		10,600		166,706
Universal Forest Products		14,170		605,201

				9,430,119

Capital Markets–1.58%
†Altisource Asset Management		1,000		675,010
Arlington Asset Investment Class A		15,885		403,638
BGC Partners Class A		126,109		936,990
Calamos Asset Management Class A		11,459		129,143
CIFC		325		2,941
Cohen & Steers		15,069		579,252
CorEnergy Infrastructure Trust		22,900		171,292
†Cowen Group Class A		79,635		298,631
Diamond Hill Investment Group		2,432		299,258
Evercore Partners Class A		24,592		1,155,824
†FBR		5,231		143,957
Financial Engines		40,022		1,369,353
FXCM Class A		32,953		522,305
GAMCO Investors		5,496		388,787
GFI Group		64,044		346,478
Greenhill		22,190		1,031,613


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Capital Markets (continued)
Hannon Armstrong Sustainable Infrastructure Capital		18,800	$	259,816
HFF Class A		25,381		734,780
†International FCStone		14,724		255,020
†Investment Technology Group		29,042		457,702
Janus Capital Group		111,400		1,619,756
†KCG Holdings		38,166		386,622
†Ladenburg Thalmann Financial Services		83,408		353,650
Manning & Napier		12,216		205,107
†Marcus & Millichap		7,400		223,924
Moelis & Co.		5,300		180,995
Oppenheimer Holdings Class A		5,102		103,315
†Piper Jaffray		12,968		677,448
Pzena Investment Management
Class A		4,622		44,140
†Safeguard Scientifics		17,820		327,888
Silvercrest Asset Management Group
Class A		7,300		99,426
†Stifel Financial		50,547		2,370,149
†SWS Group		18,358		126,487
=Teton Advisors Class B		19		0
Virtus Investment Partners		5,572		967,856
†Walter Investment Management		28,018		614,995
Westwood Holdings Group		5,314		301,251
†WisdomTree Investments		86,008		978,771

				19,743,570

Chemicals–2.25%
†Advanced Emissions Solutions		15,608		331,982
American Vanguard		19,795		221,704
Axiall		53,221		1,905,844
Balchem		22,507		1,273,221
†Calgon Carbon		37,940		735,277
Chase		4,411		137,270
†Chemtura		71,120		1,659,230
=Chemtura		37,800		0
†Ferro		57,087		827,191
†Flotek Industries		42,186		1,099,789
Fuller (H.B.)		38,909		1,544,687
FutureFuel		17,308		205,792
Hawkins		8,139		292,678
Innophos Holdings		17,464		962,092
Innospec		19,704		707,374
†Intrepid Potash		42,900		662,805
KMG Chemicals		4,772		77,688
Koppers Holdings		14,660		486,126
†Kraton Performance Polymers		23,641		421,046
Kronos Worldwide		15,200		209,456
†Landec		20,233		247,854
†LSB Industries		13,961		498,547
†Marrone Bio Innovations		3,600		9,576


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Chemicals (continued)
Minerals Technologies		26,164	$	1,614,580
Olin		59,417		1,500,279
OM Group		22,841		592,724
†Omnova Solutions		39,840		213,941
PolyOne		71,664		2,549,805
Quaker Chemical		10,513		753,677
†Rentech		182,573		312,200
Schulman (A.)		20,931		756,865
†Senomyx		30,800		252,560
Sensient Technologies		38,295		2,004,743
Stepan		14,370		637,741
†Taminco		20,600		537,660
†Trecora Resources		10,992		136,081
Tredegar		17,730		326,409
Tronox		48,000		1,250,400
Zep		18,945		265,609

				28,222,503

Commercial Services & Supplies–2.06%
ABM Industries		41,723		1,071,864
†ACCO Brands		80,624		556,306
†ARC Document Solutions		31,770		257,337
Brady Class A		34,337		770,522
Brink’s		37,857		910,082
†Casella Waste Systems		36,534		140,656
Ceco Environmental		13,767		184,478
†Cenveo		27,711		68,446
Civeo		68,000		789,480
Deluxe		38,640		2,131,382
Ennis		17,560		231,265
G&K Services Class A		15,761		872,844
Healthcare Services Group		54,681		1,564,423
†Heritage-Crystal Clean		4,288		63,720
Herman Miller		44,287		1,321,967
HNI		34,475		1,240,755
†InnerWorkings		28,357		229,408
Interface Class A		48,121		776,673
Kimball International Class B		26,702		401,865
Knoll		34,282		593,421
†Liberty Tax		5,600		180,880
McGrath RentCorp		20,640		705,888
Mobile Mini		36,466		1,275,216
MSA Safety		22,118		1,092,629
Multi-Color		10,092		458,984
NL Industries		4,936		36,329
†Performant Financial		28,495		230,240
Quad Graphics		23,523		452,818
†SP Plus		12,197		231,255
Steelcase Class A		60,434		978,426
†Team		16,413		622,217
Tetra Tech		47,591		1,188,823
UniFirst		11,167		1,078,621


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Commercial Services & Supplies (continued)
United Stationers		30,819	$	1,157,870
US Ecology		16,819		786,456
Viad		15,713		324,473
West		27,900		821,934

				25,799,953

Communications Equipment–1.60%
Adtran		44,548		914,570
Alliance Fiber Optic Products		10,600		131,758
†Applied Optoelectronics		10,700		172,270
†Aruba Networks		82,988		1,790,881
Bel Fuse Class B		6,538		161,750
Black Box		12,650		294,998
†CalAmp		26,672		469,961
†Calix		32,331		309,408
†Ciena		81,440		1,361,677
†Clearfield		8,300		105,659
Comtech Telecommunications		12,775		474,591
†Digi International		14,522		108,915
†Emulex		65,406		323,106
†Extreme Networks		71,245		341,264
†Finisar		71,967		1,196,811
†Harmonic		75,788		480,496
†Infinera		94,841		1,011,953
InterDigital		31,388		1,249,870
†Ixia		38,491		351,808
†KVH Industries		9,275		104,993
†NETGEAR		26,334		822,937
†Numerex Class A		7,573		79,365
†Oclaro		67,800		96,954
Oplink Communications		14,863		249,996
†Parkervision		57,733		65,816
Plantronics		31,651		1,512,285
†Polycom		107,700		1,323,095
†Procera Networks		18,335		175,649
†Ruckus Wireless		52,211		697,539
†ShoreTel		52,268		347,582
†Sonus Networks		198,512		678,911
Tessco Technologies		2,972		86,158
†Ubiquiti Networks		21,529		807,983
†ViaSat		31,946		1,760,864

				20,061,873

Construction & Engineering–0.80%
†Aegion		27,728		616,948
†Ameresco Class A		10,729		73,494
Argan		12,051		402,262
Comfort Systems USA		27,536		373,113
†Dycom Industries		24,129		741,002
EMCOR		51,277		2,049,029
†Furmanite		33,418		225,906
Granite Construction		30,540		971,477


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Construction & Engineering (continued)
†Great Lakes Dredge & Dock		38,697	$	239,147
†Layne Christensen		10,946		106,286
†MasTec		50,878		1,557,884
†MYR Group		16,394		394,768
†Northwest Pipe		8,096		276,074
†Orion Marine Group		17,195		171,606
†Pike Electric		20,988		249,547
Primoris Services		30,838		827,692
†Sterling Construction		9,910		76,010
†Tutor Perini		26,883		709,711

				10,061,956

Construction Materials–0.08%
†Headwaters		51,923		651,114
United States Lime & Minerals		1,487		86,439
†US Concrete		12,000		313,680

				1,051,233

Consumer Finance–0.69%
Cash America International		21,556		944,153
†Consumer Portfolio Services		14,500		92,945
†Credit Acceptance		5,213		657,203
†Encore Capital Group		20,263		897,854
†Ezcorp Class A		33,919		336,137
†First Cash Financial Services		21,417		1,198,924
†Green Dot Class A		24,241		512,455
Nelnet Class A		16,638		716,931
Nicholas Financial		6,497		75,300
†Portfolio Recovery Associates		37,823		1,975,495
†Regional Management		11,943		214,377
†Springleaf Holdings		20,400		651,372
†World Acceptance		5,701		384,818

				8,657,964

Containers & Packaging–0.43%
AEP Industries		2,547		96,455
†Berry Plastics Group		69,787		1,761,424
†Graphic Packaging Holding		248,796		3,092,534
Myers Industries		18,597		328,051
†UFP Technologies		3,077		67,632

				5,346,096

Distributors–0.24%
Core-Mark Holding		16,630		882,055
Pool		34,771		1,874,852
†VOXX International Class A		11,189		104,058
Weyco Group		4,458		111,940

				2,972,905

Diversified Consumer Services–1.06%
†2U		7,400		115,366
†American Public Education		13,160		355,188
†Ascent Capital Group Class A		9,977		600,615


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Diversified Consumer Services (continued)
†Bridgepoint Education		15,373	$	171,563
†Bright Horizons Family Solutions		22,263		936,382
Capella Education		8,980		562,148
†Career Education		62,568		317,845
Carriage Services		13,935		241,494
†Chegg		53,300		332,592
Collectors Universe		8,200		180,400
†Education Management		14,849		16,185
†Grand Canyon Education		36,208		1,476,200
†Houghton Mifflin Harcourt		84,600		1,644,624
†ITT Educational Services		15,000		64,350
†K12		24,900		397,404
†LifeLock		58,281		832,835
Matthews International Class A		22,310		979,186
Regis		39,846		635,942
Sotheby’s		47,275		1,688,663
†Steiner Leisure		12,380		465,364
†Strayer Education		9,165		548,800
Universal Technical Institute		12,295		114,958
Weight Watchers International		20,000		548,800

				13,226,904

Diversified Financial Services–0.34%
†FCB Financial Holdings Class A		7,700		174,867
Gain Capital Holdings		22,453		143,026
†JG Wentworth		21,600		267,624
MarketAxess Holdings		29,285		1,811,570
Marlin Business Services		5,686		104,168
†NewStar Financial		15,598		175,322
†PHH		45,052		1,007,363
†PICO Holdings		17,571		350,541
RCS Capital		7,300		164,396
Resource America Class A		6,711		62,479

				4,261,356

Diversified Telecommunication Services–0.68%
†8x8		68,440		457,179
Atlantic Tele-Network		7,492		403,819
†Cincinnati Bell		168,526		567,933
Cogent Communications Group		35,704		1,200,011
Consolidated Communications Holdings		28,716		719,336
Enventis		8,538		155,221
†FairPoint Communications		19,237		291,825
†General Communication Class A		32,619		355,873
†Globalstar		198,700		727,242
†Hawaiian Telcom Holdco		9,271		238,172
IDT Class B		16,415		263,625
†InContact		48,894		425,133
Inteliquent		25,889		322,318
†Intelsat		19,800		339,372
†Iridium Communications		65,550		580,117


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Diversified Telecommunication Services (continued)
Lumos Networks		13,157	$	213,801
†magicJack VocalTec		10,994		108,291
†ORBCOMM		39,294		225,941
†Premiere Global Services		39,536		473,246
†Vonage Holdings		125,953		413,126

				8,481,581

Electric Utilities–1.31%
Abengoa Yield		22,629		805,140
ALLETE		31,883		1,415,286
Cleco		44,887		2,161,309
El Paso Electric		30,741		1,123,584
Empire District Electric		34,714		838,343
Idacorp		38,476		2,062,698
MGE Energy		27,426		1,021,893
NRG Yield Class A		18,800		884,540
Otter Tail		28,981		772,923
PNM Resources		61,436		1,530,371
Portland General Electric		60,214		1,934,074
UIL Holdings		41,840		1,481,136
UNITIL		11,541		358,810

				16,390,107

Electrical Equipment–0.99%
AZZ		20,327		849,059
†Capstone Turbine		284,287		304,187
Encore Wire		14,726		546,187
EnerSys		36,306		2,128,984
†Enphase Energy		18,600		278,814
Franklin Electric		35,240		1,224,238
†FuelCell Energy		193,034		403,441
†Generac Holdings		52,782		2,139,782
General Cable		36,900		556,452
Global Power Equipment Group		10,815		161,143
†GrafTech International		87,000		398,460
LSI Industries		13,077		79,377
†Plug Power		120,900		554,931
†Polypore International		35,100		1,365,741
Powell Industries		6,608		270,003
†Power Solutions International		3,200		220,800
†PowerSecure International		18,500		177,230
Preformed Line Products		1,286		67,849
†Revolution Lighting Technologies		30,400		51,072
†Thermon Group Holdings		22,603		551,965
†Vicor		11,771		110,647

				12,440,362

Electronic Equipment, Instruments & Components–2.67%
†Agilysys		10,614		124,502
Anixter International		20,201		1,713,853
Badger Meter		10,561		532,802
Belden		33,642		2,153,761
†Benchmark Electronics		42,966		954,275


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Electronic Equipment, Instruments & Components (continued)
†Checkpoint Systems		29,772	$	364,112
†Cognex		66,930		2,695,271
†Coherent		19,532		1,198,679
†Control4		6,500		84,045
CTS		26,711		424,438
†CUI Global		14,900		107,876
Daktronics		24,461		300,626
†DTS		15,365		387,966
Electro Rent		16,047		220,967
Electro Scientific Industries		13,023		88,426
†Fabrinet		24,141		352,459
†FARO Technologies		12,399		629,249
FEI		32,611		2,459,522
=Gerber Scientific		6,600		0
†GSI Group		26,763		307,507
†II-VI		37,951		446,683
†Imprivata		6,500		100,880
†Insight Enterprises		31,603		715,176
†InvenSense		51,452		1,015,148
†Itron		31,000		1,218,610
†KEMET		26,326		108,463
Littelfuse		17,506		1,491,161
†Maxwell Technologies		24,876		216,919
†Measurement Specialties		12,641		1,082,196
†Mercury Computer Systems		28,051		308,842
Mesa Laboratories		1,430		82,625
Methode Electronics		27,566		1,016,358
MTS Systems		11,357		775,229
†Multi-Fineline Electronix		5,497		51,397
†Newport		28,949		512,976
†OSI Systems		15,868		1,007,301
Park Electrochemical		15,488		364,742
PC Connection		8,824		189,451
†Plexus		24,363		899,726
†RealD		34,440		322,703
†Rofin-Sinar Technologies		21,347		492,262
†Rogers		14,052		769,488
†Sanmina		62,795		1,309,904
†ScanSource		22,637		783,014
†Speed Commerce		43,000		118,250
†Synnex		22,223		1,436,272
†TTM Technologies		40,422		275,274
†Universal Display		32,041		1,045,818
†Viasystems Group		1,851		29,061
†Vishay Precision Group		7,609		113,678

				33,399,943

Energy Equipment & Services–1.70%
†Basic Energy Services		23,879		517,936
Bristow Group		27,591		1,854,115
†C&J Energy Services		35,529		1,085,411
CARBO Ceramics		14,800		876,604


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Energy Equipment & Services (continued)
CHC Group		25,200	$	141,120
Dawson Geophysical		5,404		98,245
†Era Group		17,100		371,925
Exterran Holdings		44,300		1,962,933
†Forum Energy Technologies		46,346		1,418,651
†Geospace Technologies		8,853		311,183
Gulf Island Fabrication		8,179		140,679
Gulfmark Offshore		21,498		673,962
†Helix Energy Solutions Group		78,256		1,726,327
†Hercules Offshore		110,376		242,827
†Hornbeck Offshore Services		26,259		859,457
†ION Geophysical		93,938		262,087
†Key Energy Services		106,617		516,026
†Matrix Service		20,607		497,041
†McDermott International		171,900		983,268
†Mitcham Industries		7,277		80,411
†Natural Gas Services Group		7,585		182,571
†Newpark Resources		62,441		776,766
North Atlantic Drill		50,600		336,996
†Nuverra Environmental Solutions		13,492		199,007
†Parker Drilling		92,445		456,678
†PHI		10,182		418,989
†Pioneer Energy Services		43,983		616,642
†RigNet		9,674		391,313
†SEACOR Holdings		15,700		1,174,360
†Terraform Power Class A		17,000		490,620
Tesco		27,946		554,728
†TETRA Technologies		55,642		602,046
†Vantage Drilling		144,726		183,802
†Willbros Group		28,802		239,921

				21,244,647

Food & Staples Retailing–0.92%
Andersons		22,063		1,387,321
Casey’s General Stores		29,312		2,101,670
†Chefs’ Warehouse Holdings		10,795		175,527
†Fairway Group Holdings		10,100		37,774
†Fresh Market		33,500		1,170,155
Ingles Markets Class A		7,831		185,516
†Natural Grocers by Vitamin Cottage		7,253		118,079
†Pantry		20,267		410,001
PriceSmart		13,732		1,176,008
Roundy’s		24,045		71,895
SpartanNash		27,358		532,113
†SUPERVALU		151,347		1,353,042
†United Natural Foods		38,299		2,353,857
Village Super Market Class A		4,613		105,084
Weis Markets		7,400		288,822

				11,466,864

Food Products–1.58%
Alico		2,463		93,840


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Food Products (continued)
†Annie’s		14,325	$	657,517
B&G Foods Class A		39,514		1,088,611
†Boulder Brands		42,613		580,815
Calavo Growers		10,754		485,436
Cal-Maine Foods		12,365		1,104,565
†Chiquita Brands International		37,857		537,569
†Darling International		125,959		2,307,569
Dean Foods		67,700		897,025
†Diamond Foods		17,771		508,428
†Farmer Bros		5,201		150,569
Fresh Del Monte Produce		26,706		851,921
†Inventure Foods		13,960		180,922
J&J Snack Foods		11,787		1,102,792
John B. Sanfilippo & Son		7,302		236,293
Lancaster Colony		14,054		1,198,525
†Lifeway Foods		279		3,870
Limoneira		9,287		220,009
†Omega Protein		11,568		144,600
†Post Holdings		33,954		1,126,594
Sanderson Farms		17,290		1,520,655
†Seaboard		217		580,473
†Seneca Foods Class A		7,410		211,926
Snyders-Lance		35,415		938,497
Tootsie Roll Industries		14,209		397,710
†TreeHouse Foods		32,413		2,609,247

				19,735,978

Gas Utilities–1.01%
Chesapeake Utilities		10,465		435,972
Laclede Group		32,067		1,487,909
New Jersey Resources		32,191		1,625,967
Northwest Natural Gas		21,419		904,953
ONE Gas		40,500		1,387,125
Piedmont Natural Gas		59,868		2,007,374
South Jersey Industries		25,752		1,374,127
Southwest Gas		36,095		1,753,495
WGL Holdings		40,224		1,694,235

				12,671,157

Health Care Equipment & Supplies–3.11%
Abaxis		17,713		898,226
ABIOMED		31,639		785,596
Accuray		64,818		470,579
Analogic		8,637		552,423
†AngioDynamics		21,092		289,382
†Anika Therapeutics		10,095		370,083
†Antares Pharma		85,224		155,960
†AtriCure		17,503		257,644
Atrion		1,267		386,448
Cantel Medical		27,050		929,979
†Cardiovascular Systems		20,282		479,264
†Cerus		54,683		219,279


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Health Care Equipment & Supplies (continued)
Conmed		19,922	$	733,926
CryoLife		18,010		177,759
†Cyberonics		20,904		1,069,449
†Cynosure Class A		18,442		387,282
†Derma Sciences		18,164		151,306
†DexCom		57,777		2,310,502
†Endologix		47,332		501,719
†Exactech		8,883		203,332
†GenMark Diagnostics		28,400		254,748
†Globus Medical		47,574		935,781
†Greatbatch		19,825		844,743
†Haemonetics		40,534		1,415,447
†HeartWare International		12,480		968,822
†ICU Medical		11,067		710,280
†Inogen		7,300		150,453
†Insulet		42,985		1,583,997
†Integra LifeSciences Holdings		19,675		976,667
†Intersect ENT		6,400		99,200
Invacare		23,439		276,815
†K2M Group Holdings		8,400		121,212
†LDR Holding		12,000		373,560
†Masimo		34,758		739,650
Meridian Bioscience		29,175		516,106
†Merit Medical Systems		31,574		375,099
†NanoString Technologies		12,600		137,844
†Natus Medical		25,563		754,364
†Neogen		27,512		1,086,724
†NuVasive		35,437		1,235,688
†NxStage Medical		47,154		619,132
†Ocular Therapeutix		6,500		97,305
†OraSure Technologies		36,206		261,407
†Orthofix International		14,003		433,533
Oxford Immunotec Global		7,500		114,525
†PhotoMedex		7,198		44,628
†Quidel		20,725		556,881
†Rockwell Medical Technologies		25,635		234,304
†RTI Biologics		33,600		160,608
†Spectranetics		32,869		873,329
†Staar Surgical		30,099		319,952
STERIS		45,067		2,431,815
†SurModics		10,565		191,860
†Symmetry Medical		31,662		319,470
†Tandem Diabetes Care		5,200		69,784
†Thoratec		44,500		1,189,485
†Tornier		29,465		704,214
†TransEnterix		29,600		129,056
†TriVascular Technologies		5,100		73,848
†Unilife		86,887		199,406
Utah Medical Products		1,866		90,986
†Vascular Solutions		14,273		352,543
†Volcano		37,731		401,458
West Pharmaceutical Services		54,200		2,425,992


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Health Care Equipment & Supplies (continued)
†Wright Medical Group		39,060	$	1,183,518
†Zeltiq Aesthetics		25,556		578,332

				38,944,709

Health Care Providers & Services–2.58%
†Acadia Healthcare		31,777		1,541,185
Addus Homecare		4,700		92,120
Adeptus Health		5,500		136,933
†Air Methods		30,396		1,688,498
†Alliance HealthCare Services		4,300		97,223
†Almost Family		4,576		124,330
†Amedisys		19,316		389,604
AMN Healthcare Services		33,474		525,542
†Amsurg		31,442		1,573,672
†Bio-Reference Labs		17,670		495,820
†BioScrip		59,631		412,050
†BioTelemetry		19,100		128,161
†Capital Senior Living		23,931		508,055
†Catalent		36,100		903,583
Chemed		13,398		1,378,654
†CorVel		9,812		334,099
†Cross Country Healthcare		18,317		170,165
Ensign Group		15,445		537,486
†ExamWorks Group		27,204		890,931
†Five Star Quality Care		27,022		101,873
†Gentiva Health Services		26,854		450,610
†Hanger		27,732		569,061
†HealthEquity		9,700		177,607
HealthSouth		66,567		2,456,322
†Healthways		25,136		402,679
†IPC The Hospitalist		13,694		613,354
Kindred Healthcare		47,950		930,230
Landauer		7,171		236,715
†LHC Group		9,106		211,259
†Magellan Health Services		21,195		1,160,002
†Molina Healthcare		23,681		1,001,706
†MWI Veterinary Supply		9,506		1,410,690
National Healthcare		7,875		437,141
†National Research Class A		4,281		55,696
†NeoStem		23,200		128,296
Owens & Minor		46,854		1,534,000
†PharMerica		23,549		575,302
†Providence Service		9,433		456,369
†RadNet		23,700		156,894
Select Medical Holdings		56,967		685,313
†Skilled Healthcare Group		13,045		86,097
†Surgical Care Affiliates		11,600		310,068
†T2 Biosystems		5,900		106,731
†Team Health Holdings		54,059		3,134,881
†Triple-S Management Class B		17,738		352,986
U.S. Physical Therapy		9,349		330,861
†Universal American		36,111		290,332


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Health Care Providers & Services (continued)
†WellCare Health Plans		33,159	$	2,000,814

				32,292,000

Health Care Technology–0.52%
†Castlight Health Class B		9,400		121,636
Computer Programs & Systems		8,149		468,486
†HealthStream		14,645		351,626
†HMS Holdings		68,020		1,282,177
†MedAssets		46,174		956,725
†Medidata Solutions		41,934		1,857,257
†Merge Healthcare		30,188		66,414
†Omnicell		29,625		809,651
Quality Systems		36,028		496,106
†Vocera Communications		13,540		109,268

				6,519,346

Hotels, Restaurants & Leisure–2.96%
Belmond		76,222		888,749
†Biglari Holdings		1,300		441,688
†BJ’s Restaurants		17,274		621,691
†Bloomin’ Brands		55,852		1,024,326
Bob Evans Farms		19,432		919,911
†Boyd Gaming		57,283		581,995
†Bravo Brio Restaurant Group		11,026		143,007
†Buffalo Wild Wings		14,668		1,969,472
†Caesars Acquisition		33,100		313,457
†Caesars Entertainment		41,000		515,780
†Carrols Restaurant Group		34,765		247,179
Cheesecake Factory		37,086		1,687,413
Churchill Downs		10,521		1,025,797
†Chuy’s Holdings		13,532		424,769
ClubCorp Holdings		19,900		394,617
Cracker Barrel Old Country Store		14,294		1,474,998
†Del Frisco’s Restaurant Group		17,087		327,045
†Denny’s		72,156		507,257
†Diamond Resorts International		25,600		582,656
DineEquity		12,232		998,009
Einstein Noah Restaurant Group		8,076		162,812
†El Pollo Loco Holdings		6,100		219,051
†Empire Resorts		16,500		110,715
†Famous Dave’s of America		5,900		158,828
†Fiesta Restaurant Group		21,357		1,061,016
†Ignite Restaurant Group		3,734		22,404
International Speedway Class A		19,518		617,550
Interval Leisure Group		27,536		524,561
†Intrawest Resorts Holdings		12,700		122,809
†Isle of Capri Casinos		14,073		105,547
Jack in the Box		30,915		2,108,094
†Jamba		15,291		217,438
†Krispy Kreme Doughnuts		51,457		883,002
†La Quinta Holdings		32,100		609,579
†Life Time Fitness		31,683		1,598,091


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Hotels, Restaurants & Leisure (continued)
Marcus		11,934	$	188,557
†Marriott Vacations Worldwide		20,772		1,317,153
†Monarch Casino & Resort		6,584		78,415
†Morgans Hotel Group		26,125		210,829
†Multimedia Games Holding		23,431		843,750
†Nathan’s Famous		2,835		191,901
†Noodles		7,800		149,682
Papa John’s International		23,822		952,642
†Penn National Gaming		56,900		637,849
†Pinnacle Entertainment		45,885		1,151,255
†Popeyes Louisiana Kitchen		17,329		701,825
†Potbelly		16,600		193,556
†Red Robin Gourmet Burgers		10,722		610,082
†Ruby Tuesday		53,395		314,497
Ruth’s Hospitality Group		29,208		322,456
†Scientific Games Class A		41,452		446,438
†Sonic		40,775		911,729
Speedway Motorsports		7,375		125,817
Texas Roadhouse		54,540		1,518,394
Vail Resorts		27,746		2,407,243
†Zoe’s Kitchen		4,200		129,192

				37,014,575

Household Durables–1.08%
†Beazer Homes USA		18,266		306,503
†Cavco Industries		7,426		504,968
CSS Industries		5,355		129,859
†Dixie Group		10,800		93,636
Ethan Allen Interiors		17,332		395,170
Flexsteel Industries		2,528		85,269
†Helen of Troy		22,347		1,173,664
†Hovnanian Enterprises Class A		101,192		371,375
†Installed Building Products		4,918		69,098
†iRobot		22,732		692,189
KB Home		62,936		940,264
La-Z-Boy		41,433		819,959
†LGI Homes		9,600		176,256
†Libbey		16,688		438,227
Lifetime Brands		6,178		94,585
†M/I Homes		17,574		348,317
MDC Holdings		30,334		768,057
†Meritage Homes		30,384		1,078,632
NACCO Industries Class A		2,792		138,846
†New Home		10,900		147,150
Ryland Group		36,636		1,217,781
†Skullcandy		9,019		70,258
†Standard Pacific		110,998		831,375
†TRI Pointe Homes		114,052		1,475,833
†UCP		5,100		60,945
†Universal Electronics		12,011		592,983
†WCI Communities		12,200		224,968


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Household Durables (continued)
†William Lyon Homes Class A		13,000	$	287,300

				13,533,467

Household Products–0.17%
†Central Garden & Pet Class A		33,822		271,929
†Harbinger Group		60,156		789,247
Oil-Dri Corp of America		3,441		89,707
Orchids Paper Products		8,292		203,652
WD-40		11,239		763,802

				2,118,337

Independent Power and Renewable Electricity Producers–0.30%
Atlantic Power		87,333		207,853
†Dynegy		77,500		2,236,650
Ormat Technologies		14,756		387,640
Pattern Energy Group		28,600		884,312

				3,716,455

Industrial Conglomerates–0.06%
Raven Industries		28,951		706,404

				706,404

Insurance–2.50%
†Ambac Financial Group		34,000		751,400
American Equity Investment Life Holding		58,055		1,328,298
AMERISAFE		13,499		527,946
Amtrust Financial Services		23,733		945,048
Argo Group International Holdings		20,207		1,016,614
Atlas Financial Holdings		8,300		114,872
Baldwin & Lyons Class B		4,943		122,092
†Citizens		25,691		165,964
CNO Financial Group		164,512		2,790,124
Crawford Class B		17,053		140,687
Donegal Group Class A		5,144		79,012
†eHealth		14,419		347,930
EMC Insurance Group		2,600		75,088
Employers Holdings		22,527		433,645
†Enstar Group		6,811		928,476
FBL Financial Group Class A		8,674		387,728
Federated National Holding		11,700		328,653
Fidelity & Guaranty Life		8,100		172,935
First American Financial		79,376		2,152,677
†Global Indemnity		6,337		159,883
†Greenlight Capital Re Class A		20,357		659,770
†Hallmark Financial Services		8,751		90,223
HCI Group		6,007		216,192
†Heritage Insurance Holdings		9,300		140,058
†Hilltop Holdings		52,567		1,053,968
Horace Mann Educators		32,431		924,608
Independence Holding		6,117		81,295
@Infinity Property & Casualty		8,589		549,782
Kansas City Life Insurance		2,714		120,366


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Insurance (continued)
Kemper		36,300	$	1,239,645
Maiden Holdings		39,495		437,605
Meadowbrook Insurance Group		46,248		270,551
Montpelier Re Holdings		29,176		907,082
National General Holdings		25,700		434,073
National Interstate		3,801		106,048
National Western Life Insurance Class A		1,816		448,570
†Navigators Group		7,316		449,934
OneBeacon Insurance Group		20,187		311,082
†Phoenix Companies		3,506		196,546
Platinum Underwriters Holdings		20,306		1,236,026
Primerica		42,222		2,035,945
RLI		31,634		1,369,436
Safety Insurance Group		10,799		582,174
@Selective Insurance Group		42,707		945,533
State Auto Financial		12,495		256,272
Stewart Information Services		14,639		429,655
Symetra Financial		58,699		1,369,448
Third Point Reinsurance		41,100		598,005
United Fire Group		14,821		411,579
United Insurance Holdings		12,000		180,000
Universal Insurance Holdings		22,803		294,843

				31,315,386

Internet & Catalog Retail–0.47%
†1-800-FLOWERS.com Class A		19,282		138,638
†Blue Nile		9,397		268,284
†Coupons.com		8,700		104,052
†FTD		13,337		454,925
HSN		25,812		1,584,082
†Lands End		11,900		489,328
NutriSystem		22,126		340,077
†Orbitz Worldwide		37,311		293,638
†Overstock.com		7,697		129,771
PetMed Express		12,372		168,259
†RetailMeNot		22,300		360,368
†Shutterfly		28,272		1,377,977
†Valuevision Media Class A		25,200		129,276

				5,838,675

Internet Software & Services–2.49%
†Angie’s List		34,117		217,325
†Bankrate		48,482		550,756
†Bazaarvoice		30,780		227,464
†Benefitfocus		3,000		80,820
†Blucora		29,268		446,044
†Borderfree		8,700		112,230
†Brightcove		17,986		100,362
†Carbonite		15,170		155,341
†ChannelAdvisor		15,000		246,000
†comScore		25,054		912,216


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Internet Software & Services (continued)
†Constant Contact		23,132	$	627,802
†Conversant		50,607		1,733,290
†Cornerstone OnDemand		41,410		1,424,918
†Cvent		13,000		329,810
†Dealertrack Technologies		41,512		1,802,036
†Demandware		23,530		1,198,148
†Dice Holdings		33,216		278,350
†Digital River		21,704		315,142
†E2open		16,799		156,399
EarthLink Holdings		77,353		264,547
†Endurance International Group Holdings		21,800		354,686
†Envestnet		24,693		1,111,185
†Global Eagle Entertainment		31,700		355,674
†Gogo		40,400		681,144
†GrubHub		6,500		222,560
†Internap Network Services		45,421		313,405
†IntraLinks Holdings		30,405		246,281
j2 Global		36,687		1,810,870
†Limelight Networks		33,249		77,636
†Liquidity Services		16,626		228,607
†LivePerson		41,318		520,194
†LogMeIn		17,571		809,496
Marchex Class B		24,554		101,899
†Marin Software		19,100		164,260
†Marketo		18,600		600,780
†Millennial Media		54,576		101,511
†Monster Worldwide		68,573		377,151
†Move		30,104		630,980
NIC		51,447		885,917
†Perficient		28,925		433,586
†Q2 Holdings		11,600		162,400
†QuinStreet		19,511		80,971
†RealNetworks		13,048		90,684
Reis		5,300		125,027
†Rightside Group		9,023		87,974
†Rocket Fuel		13,300		210,140
†Rubicon Project		8,700		102,051
†SciQuest		21,945		330,053
†Shutterstock		11,052		788,892
†SPS Commerce		13,001		691,003
†Stamps.com		10,438		331,511
†TechTarget		10,197		87,592
†Textura		13,500		356,400
†Travelzoo		3,660		56,730
†Tremor Video		25,700		60,138
†TrueCar		10,500		188,475
†Trulia		28,736		1,405,190
†Unwired Planet		56,263		104,649
†VistaPrint		26,434		1,448,319
†Web.com Group		37,451		747,522
†WebMD Health		30,230		1,263,916


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Internet Software & Services (continued)
Wix.Com		13,900	$	225,875
†XO Group		23,301		261,204
†Xoom		22,347		490,517
†YuMe		23,900		119,500
†Zix		39,474		135,001

				31,158,556

IT Services–2.40%
†Acxiom		57,872		957,782
†Blackhawk Network Holdings Class A		7,400		239,760
†Blackhawk Network Holdings Class B		28,800		930,240
†CACI International Class A		17,261		1,230,191
†Cardtronics		33,440		1,177,088
Cass Information Systems		9,894		409,612
†CIBER		65,925		226,123
Computer Task Group		9,430		104,673
Convergys		79,022		1,408,172
CSG Systems International		24,388		640,917
†Datalink		17,567		186,737
†EPAM Systems		27,845		1,219,333
†Euronet Worldwide		39,448		1,885,220
EVERTEC		51,400		1,148,276
†ExlService Holdings		25,448		621,186
Forrester Research		8,233		303,468
†Global Cash Access Holdings		52,394		353,659
Hackett Group		13,891		82,790
Heartland Payment Systems		28,495		1,359,781
†Higher One Holdings		17,208		42,504
†iGate		27,798		1,020,743
†Lionbridge Technologies		47,270		212,715
Luxoft Holding		7,900		293,880
Mantech International Class A		19,817		534,068
MAXIMUS		52,364		2,101,367
†ModusLink Global Solutions		26,611		95,001
†MoneyGram International		24,587		308,321
†NeuStar Class A		43,600		1,082,588
†PRGX Global		28,962		169,717
†Sapient		85,857		1,201,998
Science Applications International		32,700		1,446,321
†ServiceSource International		39,160		126,487
†SYKES Enterprises		28,477		568,970
†Syntel		12,314		1,082,893
†TeleTech Holdings		12,960		318,557
†Unisys		40,254		942,346
†Virtusa		20,636		733,816
†WEX		29,798		3,287,315

				30,054,615

Leisure Products–0.48%
Arctic Cat		9,314		324,313
†Black Diamond		20,345		153,808
Brunswick		70,571		2,973,862


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Leisure Products (continued)
Callaway Golf		52,927	$	383,191
Escalade		7,200		86,832
†JAKKS Pacific		10,637		75,523
Johnson Outdoors Class A		3,886		100,647
†LeapFrog Enterprises		51,308		307,335
†Malibu Boats Class A		5,800		107,416
Marine Products		5,709		45,044
†Nautilus		19,900		238,203
†Smith & Wesson Holding		44,132		416,606
Sturm Ruger		15,414		750,508

				5,963,288

Life Sciences Tools & Services–0.49%
†Accelerate Diagnostics		16,421		352,723
†Affymetrix		54,765		437,025
†Albany Molecular Research		19,400		428,158
†Cambrex		24,046		449,179
†Enzo Biochem		24,700		127,205
†Fluidigm		19,445		476,403
†Luminex		30,307		590,987
†Pacific Biosciences of California		49,998		245,490
†Parexel International		43,859		2,767,064
†Sequenom		103,956		308,749

				6,182,983

Machinery–3.19%
†Accuride		28,827		109,254
Actuant Class A		55,114		1,682,079
Alamo Group		5,435		222,835
Albany International		22,383		761,917
Altra Holdings		19,378		565,062
American Railcar Industries		7,546		557,800
Astec Industries		14,447		526,882
Barnes Group		40,439		1,227,324
†Blount International		41,249		624,097
Briggs & Stratton		33,814		609,328
†Chart Industries		23,474		1,434,966
CIRCOR International		13,927		937,705
CLARCOR		38,660		2,438,673
Columbus McKinnon		15,808		347,618
†Commercial Vehicle Group		25,826		159,605
Douglas Dynamics		17,949		350,005
Dynamic Materials		7,816		148,895
†Energy Recovery		30,070		106,448
†EnPro Industries		17,709		1,071,926
ESCO Technologies		18,938		658,664
†ExOne		9,291		194,089
Federal Signal		49,307		652,825
Foster (L.B.) Class A		6,988		321,029
FreightCar America		10,041		334,365
Global Brass & Copper Holdings		15,400		225,918
Gorman-Rupp		13,482		404,999


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Machinery (continued)
Graham		7,462	$	214,533
Greenbrier Companies		21,047		1,544,429
Harsco		62,900		1,346,689
Hillenbrand		48,836		1,508,544
Hurco Companies		4,207		158,436
Hyster-Yale Materials Handling		7,766		556,201
John Bean Technologies		22,892		643,952
Kadant		9,297		363,048
Lindsay		10,207		762,973
†Lydall		14,802		399,802
†Manitex International		12,400		139,996
†Meritor		70,612		766,140
Miller Industries		6,929		117,100
Mueller Industries		43,940		1,254,048
Mueller Water Products Class A		124,527		1,031,084
NN		14,656		391,608
Omega Flex		648		12,610
†Proto Labs		17,643		1,217,367
RBC Bearings		17,218		976,261
†Rexnord		58,364		1,660,456
Standex International		9,154		678,678
Sun Hydraulics		18,228		685,191
Tennant		13,281		891,022
Titan International		37,010		437,458
†Trimas		33,625		818,096
Twin Disc		5,164		139,221
†Wabash National		54,740		729,137
Watts Water Technologies Class A		21,728		1,265,656
Woodward		50,358		2,398,048
†Xerium Technologies		11,200		163,632

				39,945,724

Marine–0.18%
Baltic Trading		35,600		147,384
International Shipholding		3,168		56,676
Knightsbridge Tankers		21,583		191,010
Matson		32,200		805,966
Navios Maritime Holdings		57,400		344,400
Safe Bulkers		28,200		187,812
Scorpio Bulkers		93,500		544,170

				2,277,418

Media–1.30%
AH Belo Class A		19,000		202,730
AMC Entertainment Holdings		14,900		342,551
†Carmike Cinemas		18,835		583,508
†Central European Media Enterprises Class A		49,011		110,275
†Crown Media Holdings Class A		18,679		59,773
†Cumulus Media Class A		98,124		395,440
†Daily Journal		550		99,275
†Demand Media		9,023		79,854


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Media (continued)
†Dex Media		11,000	$	105,160
†Entercom Communications Class A		15,621		125,437
Entravision Communications Class A		46,030		182,279
Eros International		14,200		207,462
†Global Sources		10,283		68,999
†Gray Television		42,600		335,688
Harte-Hanks		46,142		293,925
†Hemisphere Media Group		9,200		98,072
†Journal Communications Class A		37,603		316,993
†Lee Enterprises		38,800		131,144
†Loral Space & Communications		9,861		708,118
†Martha Stewart Living Omnimedia Class A		17,996		64,786
†McClatchy Class A		37,072		124,562
MDC Partners Class A		34,635		664,646
†Media General Class A		39,400		516,534
Meredith		27,934		1,195,575
National CineMedia		46,029		667,881
New Media Investment Group		29,600		492,248
New York Times Class A		108,111		1,213,005
Nexstar Broadcasting Group Class A		24,056		972,344
†Radio One Class D		11,900		37,842
†ReachLocal		6,392		23,075
†Reading International Class A		9,340		78,456
†Rentrak		8,553		521,220
Saga Communications Class A		2,612		87,711
Salem Communications Class A		5,612		42,707
Scholastic		21,191		684,893
†Scripps (E.W.) Class A		24,803		404,537
†SFX Entertainment		32,000		160,640
Sinclair Broadcast Group Class A		50,532		1,318,380
†Sizmek		15,184		117,524
†Time		85,300		1,998,579
†Townsquare Media		9,400		112,988
World Wrestling Entertainment Class A		22,707		312,675

				16,259,491

Metals & Mining–1.38%
†Advanced Drainage Systems		11,300		236,735
AK Steel Holding		130,756		1,047,356
†Allied Nevada Gold		66,600		220,446
†AM Castle		10,172		86,869
Ampco-Pittsburgh		5,257		105,140
†Century Aluminum		40,487		1,051,447
†Coeur d’Alene Mines		69,886		346,635
Commercial Metals		90,500		1,544,835
Globe Specialty Metals		50,933		926,471
Gold Resource		39,956		204,575
†Handy & Harman		2,948		77,414
Haynes International		8,981		413,036
Hecla Mining		273,200		677,536
†Horsehead Holding		40,030		661,696


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Metals & Mining (continued)
Kaiser Aluminum		13,322	$	1,015,403
Materion		15,684		481,028
†Molycorp		108,200		128,758
Noranda Aluminum Holding		40,745		184,167
Olympic Steel		5,606		115,315
†RTI International Metals		21,540		531,176
Schnitzer Steel Industries Class A		18,301		440,139
†Stillwater Mining		88,915		1,336,392
†SunCoke Energy		55,147		1,238,050
†Universal Stainless & Alloy		4,193		110,527
US Silica Holdings		41,083		2,568,098
Walter Energy		47,600		111,384
Worthington Industries		38,408		1,429,546

				17,290,174

Multiline Retail–0.16%
Bon-Ton Stores		8,513		71,169
†Burlington Stores		20,700		825,102
Fred’s Class A		30,277		423,878
†Tuesday Morning		35,283		684,667

				2,004,816

Multi-Utilities–0.35%
Avista		44,126		1,347,167
Black Hills		34,643		1,658,707
NorthWestern		30,506		1,383,752

				4,389,626

Oil, Gas & Consumable Fuels–3.78%
Abraxas Petroleum		71,212		375,999
Adams Resources & Energy		1,206		53,414
Alon USA Energy		22,092		317,241
†Alpha Natural Resources		156,100		387,128
†American Eagle Energy		22,000		89,540
†Amyris		20,329		77,047
†Apco Oil and Gas International		4,990		64,321
†Approach Resources		31,346		454,517
Arch Coal		148,445		314,703
Ardmore Shipping		13,100		142,790
†Bill Barrett		38,690		852,728
†Bonanza Creek Energy		24,868		1,414,989
†BPZ Resources		105,927		202,321
†Callon Petroleum		45,416		400,115
†Carrizo Oil & Gas		34,889		1,877,726
†Clayton Williams Energy		4,848		467,590
†Clean Energy Fuels		57,195		446,121
†Cloud Peak Energy		42,517		536,565
Comstock Resources		34,394		640,416
†Contango Oil & Gas		14,481		481,348
Delek U.S. Holdings		46,088		1,526,435
DHT Holdings		75,600		465,696
†Diamondback Energy		32,303		2,415,618
Dorian LPG		5,300		94,446


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Oil, Gas & Consumable Fuels (continued)
†Eclipse Resources		22,400	$	372,288
†Emerald Oil		43,186		265,594
Energy XXI Bermuda		68,557		778,122
Evolution Petroleum		10,647		97,739
EXCO Resources		109,950		367,233
†Forest Oil		77,833		91,065
†Frontline		29,683		37,401
†FX Energy		31,200		94,848
GasLog		30,507		671,459
†Gastar Exploration		48,116		282,441
†Glori Energy		8,500		67,150
†Goodrich Petroleum		28,740		425,927
Green Plains Renewable Energy		29,343		1,097,135
†Halcon Resources		203,598		806,248
Hallador Energy		10,532		124,699
†Harvest Natural Resources		30,500		111,935
†Independence Contract Drilling		10,500		123,375
†Isramco		651		79,526
†@Jones Energy Class A		7,200		135,216
†Kodiak Oil & Gas		202,604		2,749,336
†Magnum Hunter Resources		143,851		801,250
†Matador Resources		56,895		1,470,736
†Midstates Petroleum		32,989		166,594
†Miller Energy Resources		20,565		90,486
Navios Maritime Acquisition		59,500		161,245
Nordic American Tankers		71,398		567,614
†Northern Oil & Gas		44,937		639,004
†Pacific Ethanol		14,700		205,212
Panhandle Oil & Gas Class A		6,247		372,946
†Parsley Energy Class A		42,000		895,860
†PDC Energy		27,850		1,400,577
†Penn Virginia		53,079		674,634
†Petroquest Energy		50,819		285,603
†Quicksilver Resources		106,355		64,111
†Renewable Energy Group		24,964		253,385
†Resolute Energy		64,527		404,584
†Rex American Resources		4,950		360,756
†Rex Energy		38,927		493,205
†Ring Energy		13,500		198,990
†Rosetta Resources		46,671		2,079,660
†RSP Permian		16,300		416,628
†Sanchez Energy		37,838		993,626
Scorpio Tankers		128,009		1,063,755
SemGroup Class A		32,205		2,681,710
Ship Finance International		46,842		792,567
†Solazyme		55,040		410,598
†Stone Energy		42,671		1,338,163
†Swift Energy		32,599		312,950
†Synergy Resources		53,613		653,542
Teekay Tankers Class A		34,841		129,957
Transatlantic Petroleum		16,400		147,436
†Triangle Petroleum		56,696		624,223


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Oil, Gas & Consumable Fuels (continued)
†Vaalco Energy		49,400	$	419,900
†Vertex Energy		16,300		113,448
W&T Offshore		25,736		283,096
†Warren Resources		65,016		344,585
Western Refining		40,041		1,681,322
†Westmoreland Coal		10,557		394,937

				47,266,446

Paper & Forest Products–0.73%
†Boise Cascade		28,546		860,376
†Clearwater Paper		15,151		910,727
Deltic Timber		7,855		489,524
Glatfelter		34,217		751,063
†KapStone Paper & Packaging		64,964		1,817,043
†Louisiana-Pacific		109,778		1,491,883
Neenah Paper		12,095		646,841
†Resolute Forest Products		52,671		823,774
Schweitzer-Mauduit International		24,767		1,023,125
Wausau Paper		36,529		289,675

				9,104,031

Personal Products–0.16%
†Elizabeth Arden		17,526		293,385
Female Health		10,133		35,364
†IGI Laboratories		20,800		193,856
Inter Parfums		12,193		335,307
†Medifast		10,787		354,137
Nature’s Sunshine Products		5,554		82,366
†Nutraceutical International		4,606		96,311
†Revlon Class A		6,954		220,372
†Synutra International		8,658		39,221
†USANA Health Sciences		4,239		312,245

				1,962,564

Pharmaceuticals–1.82%
†AcelRx Pharmaceuticals		13,400		73,566
†Aerie Pharmaceuticals		10,800		223,452
†Akorn		48,386		1,754,960
†=Alimera Sciences		21,000		113,820
†Amphastar Pharmaceuticals		9,600		111,811
†Ampio Pharmaceuticals		26,064		92,006
†ANI Pharmaceuticals		5,000		141,400
†Aratana Therapeutics		17,700		177,708
†Auxilium Pharmaceuticals		39,354		1,174,717
†AVANIR Pharmaceuticals		130,368		1,553,987
†BioDelivery Sciences International		33,609		574,378
†Bio-Path Holdings		53,100		106,731
†Cempra		12,896		141,340
†Corcept Therapeutics		32,311		86,593
†Depomed		44,957		682,897
†Endocyte		21,599		131,322
†Esperion Therapeutics		4,900		119,854
†Flexion Therapeutics		5,200		94,952


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Pharmaceuticals (continued)
Horizon Pharma		52,155	$	640,463
†Immune Design		6,500		114,790
†Impax Laboratories		51,302		1,216,370
†Intra-Cellular Therapies		12,400		170,004
†Kite Pharma		7,700		219,450
†Lannett		18,580		848,734
Liberator Medical Holdings		15,800		49,454
†Medicines		51,033		1,139,057
†Mirati Therapeutics		5,500		96,305
†Nektar Therapeutics		93,388		1,127,193
†Omeros		26,166		332,832
†Otonomy		6,800		163,200
†Pacira Pharmaceuticals		27,275		2,643,493
†Pain Therapeutics		27,500		107,525
†Pernix Therapeutics Holdings		24,062		184,796
Phibro Animal Health Class A		10,600		237,546
POZEN		17,689		129,837
†Prestige Brands Holdings		38,155		1,235,077
†Radius Health		6,800		142,800
†Relypsa		12,200		257,298
†Repros Therapeutics		17,431		172,567
†Revance Therapeutics		4,900		94,717
†Sagent Pharmaceuticals		15,675		487,493
†SciClone Pharmaceuticals		31,374		216,167
†Sucampo Pharmaceuticals Class A		6,910		44,915
†Supernus Pharmaceuticals		17,885		155,421
†Tetraphase Pharmaceuticals		14,400		287,280
†TherapeuticsMD		88,500		410,640
Theravance		59,600		1,018,564
Theravance Biopharma		17,000		391,850
†Vital Therapies		6,300		128,583
†Vivus		69,061		266,575
†XenoPort		48,601		261,473
†Zafgen		6,800		133,600
†Zogenix		67,371		77,477
†ZS Pharma		5,000		196,150

				22,755,190

Professional Services–1.34%
Acacia Research		40,076		620,376
†Advisory Board		28,524		1,328,933
Barrett Business Services		5,232		206,612
†CBIZ		38,146		300,209
CDI		7,887		114,519
Corporate Executive Board		26,302		1,579,961
†CRA International		6,351		161,506
Exponent		9,665		685,055
†Franklin Covey		8,762		171,648
†FTI Consulting		32,106		1,122,426
†GP Strategies		12,402		356,185
Heidrick & Struggles International		13,764		282,713
†Hill International		25,600		102,400


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Professional Services (continued)
†Huron Consulting Group		18,178	$	1,108,313
†ICF International		14,951		460,341
†Information Services Group		37,600		142,880
Insperity		18,601		508,551
Kelly Services Class A		20,677		324,009
Kforce		21,938		429,327
†Korn/Ferry International		38,145		949,811
†Mistras Group		14,147		288,599
†Navigant Consulting		37,436		520,735
†On Assignment		42,582		1,143,327
†Paylocity Holding		6,100		119,865
†Pendrell		141,559		189,689
Resources Connection		32,809		457,357
†RPX		38,374		526,875
†TriNet Group		11,400		293,550
†TrueBlue		32,987		833,252
VSE		3,983		195,247
†WageWorks		27,430		1,248,888

				16,773,159

Real Estate Investment Trusts–8.53%
Acadia Realty Trust		41,715		1,150,500
AG Mortgage Investment Trust		22,184		394,875
Agree Realty		12,666		346,795
Alexander’s		1,476		551,891
Altisource Portfolio Solutions		10,600		1,068,480
American Assets Trust		26,773		882,706
American Capital Mortgage Investment		40,611		764,299
American Realty Capital Healthcare Trust		131,900		1,382,312
†American Residential Properties		23,300		427,322
AmREIT Class B		17,074		392,190
Anworth Mortgage Asset		109,731		525,611
Apollo Commercial Real Estate Finance		38,095		598,472
Apollo Residential Mortgage		25,181		388,543
Ares Commercial Real Estate		17,689		206,784
Armada Hoffler Properties		22,500		204,300
Armour Residential REIT		284,429		1,095,052
Ashford Hospitality Prime		16,679		254,021
Ashford Hospitality Trust		55,898		571,278
Associated Estates Realty		42,171		738,414
Aviv REIT		16,200		426,870
Campus Crest Communities		45,676		292,326
Capstead Mortgage		75,408		922,994
†CareTrust REIT		15,445		220,863
CatchMark Timber Trust		13,100		143,576
Cedar Realty Trust		55,961		330,170
Chambers Street Properties		176,600		1,329,798
Chatham Lodging Trust		27,231		628,491
Chesapeake Lodging Trust		42,815		1,248,057


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Real Estate Investment Trusts (continued)
Colony Financial		79,779	$	1,785,454
Coresite Realty		17,368		570,886
Cousins Properties		163,446		1,953,180
CubeSmart		107,786		1,937,992
CyrusOne		24,406		586,720
CYS Investments		118,567		976,992
DCT Industrial Trust		253,061		1,900,488
DiamondRock Hospitality		151,474		1,920,690
DuPont Fabros Technology		46,945		1,269,393
Dynex Capital		45,630		368,690
EastGroup Properties		23,469		1,421,987
Education Realty Trust		103,759		1,066,643
Empire State Realty Trust		72,100		1,082,942
EPR Properties		44,140		2,237,015
Equity One		48,405		1,047,000
Excel Trust		45,425		534,652
FelCor Lodging Trust		89,166		834,594
First Industrial Realty Trust		83,306		1,408,704
First Potomac Realty Trust		41,218		484,311
Franklin Street Properties		71,904		806,763
Geo Group		55,884		2,135,886
Getty Realty		21,100		358,700
Gladstone Commercial		13,005		220,955
Glimcher Realty Trust		107,294		1,452,761
Government Properties Income Trust		50,703		1,110,903
Gramercy Property Trust		83,411		480,447
Hatteras Financial		75,200		1,350,592
Healthcare Realty Trust		74,492		1,763,971
Hersha Hospitality Trust		152,064		968,648
Highwoods Properties		69,406		2,699,893
Hudson Pacific Properties		43,051		1,061,638
Inland Real Estate		65,296		647,083
Invesco Mortgage Capital		93,461		1,469,207
Investors Real Estate Trust		83,462		642,657
†iStar Financial		67,470		910,845
Kite Realty Group Trust		26,854		650,941
LaSalle Hotel Properties		79,311		2,715,609
Lexington Realty Trust		155,186		1,519,271
LTC Properties		27,473		1,013,479
Mack-Cali Realty		69,100		1,320,501
Medical Properties Trust		128,172		1,571,389
Monmouth Real Estate Investment		45,689		462,373
National Health Investors		25,734		1,470,441
New Residential Investment		219,400		1,279,102
New York Mortgage Trust		73,032		528,021
New York REIT		127,500		1,310,700
One Liberty Properties		6,838		138,333
Owens Realty Mortgage		7,800		111,150
Parkway Properties		61,610		1,157,036
Pebblebrook Hotel Trust		52,410		1,956,989
Pennsylvania Real Estate Investment
Trust		54,199		1,080,728


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Real Estate Investment Trusts (continued)
PennyMac Mortgage Investment Trust		58,021	$	1,243,390
Physicians Realty Trust		38,300		525,476
Potlatch		30,292		1,218,041
PS Business Parks		14,662		1,116,365
QTS Realty Trust		8,500		257,975
RAIT Financial Trust		56,032		416,318
Ramco-Gershenson Properties Trust		60,705		986,456
Redwood Trust		60,746		1,007,169
Resource Capital		90,529		440,876
Retail Opportunity Investments		67,067		985,885
Rexford Industrial Realty		34,100		471,944
RLJ Lodging Trust		99,761		2,840,196
Rouse Properties		26,860		434,326
Ryman Hospitality Properties		33,703		1,594,152
Sabra Health Care REIT		37,355		908,474
Saul Centers		6,666		311,569
Select Income REIT		26,663		641,245
Silver Bay Realty Trust		27,852		451,481
Sovran Self Storage		25,388		1,887,852
STAG Industrial		37,534		777,329
Starwood Waypoint Residential Trust		28,300		736,083
†Strategic Hotels & Resorts		189,553		2,208,292
Summit Hotel Properties		65,473		705,799
Sun Communities		37,139		1,875,520
Sunstone Hotel Investors		152,777		2,111,378
Terreno Realty		27,014		508,674
Trade Street Residential		6,200		44,268
UMH Properties		17,967		170,687
Universal Health Realty Income Trust		8,673		361,491
Urstadt Biddle Properties Class A		18,617		377,925
Washington Real Estate Investment Trust		50,475		1,281,056
Western Asset Mortgage Capital		32,984		487,504
Whitestone REIT		14,171		197,544

				106,825,075

Real Estate Management & Development–0.47%
Alexander & Baldwin		37,900		1,363,263
Altisource Residential		42,300		1,015,200
†AV Homes		4,980		72,957
Consolidated-Tomoka Land		4,399		215,859
†Forestar Group		24,677		437,276
Kennedy-Wilson Holdings		56,053		1,343,030
RE/MAX Holdings		7,100		211,083
†St. Joe		45,700		910,801
†Tejon Ranch		10,465		293,439

				5,862,908

Road & Rail–0.70%
ArcBest		20,042		747,567
Celadon Group		17,246		335,435
†General Finance		6,300		55,881


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Road & Rail (continued)
Heartland Express		42,109	$	1,008,932
Knight Transportation		46,282		1,267,664
Marten Transport		19,478		346,903
†P.A.M. Transportation Services		4,200		152,250
†Patriot Transportation Holding		5,972		202,570
†Quality Distribution		19,881		254,079
†Roadrunner Transportation Systems		20,203		460,426
†Saia		19,363		959,630
†Swift Transportation		66,268		1,390,303
Universal Truckload Services		3,287		79,710
†USA Truck		8,100		141,993
Werner Enterprises		35,356		890,971
†YRC Worldwide		25,400		516,128

				8,810,442

Semiconductors & Semiconductor Equipment–3.82%
Advanced Energy Industries		32,979		619,675
†Alpha & Omega Semiconductor		19,771		185,847
†Ambarella		20,892		912,354
†Amkor Technology		69,765		586,724
†Applied Micro Circuits		59,890		419,230
†Audience		16,706		123,624
†Axcelis Technologies		93,334		185,735
Brooks Automation		50,190		527,497
†Cabot Microelectronics		19,571		811,218
†Cascade Microtech		9,200		93,196
†Cavium		40,773		2,027,641
†Ceva		12,723		170,997
†Cirrus Logic		49,888		1,040,165
Cohu		21,843		261,461
Cypress Semiconductor		122,500		1,209,687
†Diodes		29,065		695,235
†DSP Group		11,458		101,632
†Entegris		106,150		1,220,725
†Entropic Communications		58,414		155,381
†Exar		31,384		280,887
†Fairchild Semiconductor International		97,100		1,507,963
†FormFactor		48,314		346,411
†GT Advanced Technologies		101,226		1,096,278
†Inphi		21,794		313,398
†Integrated Device Technology		103,719		1,654,318
Integrated Silicon Solution		25,748		353,778
†International Rectifier		55,108		2,162,438
Intersil Class A		98,795		1,403,877
IXYS		14,122		148,281
†Kopin		38,342		130,363
†Lattice Semiconductor		87,726		657,945
†M/A-COM Technology Solutions Holdings		11,007		240,393
†MaxLinear Class A		27,521		189,344
Micrel		39,283		472,574
†Microsemi		71,514		1,817,171


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Semiconductors & Semiconductor Equipment (continued)
MKS Instruments		40,424	$	1,349,353
Monolithic Power Systems		30,153		1,328,240
†Nanometrics		16,322		246,462
†NVE		3,128		201,881
†OmniVision Technologies		43,866		1,160,694
†PDF Solutions		25,878		326,322
†Peregrine Semiconductor		16,913		209,214
†Pericom Semiconductor		12,762		124,302
†Photronics		47,760		384,468
†PMC - Sierra		125,500		936,230
Power Integrations		23,756		1,280,686
†QuickLogic		39,900		119,301
†Rambus		89,786		1,120,529
†RF Micro Devices		220,653		2,546,336
†Rubicon Technology		19,297		82,012
†Rudolph Technologies		28,138		254,649
†Semtech		49,184		1,335,346
†Silicon Image		50,387		253,950
†Silicon Laboratories		33,900		1,377,696
†Spansion Class A		43,678		995,422
†Synaptics		27,852		2,038,766
Tessera Technologies		42,035		1,117,290
†TriQuint Semiconductor		132,101		2,519,166
†Ultra Clean Holdings		28,866		258,351
†Ultratech		19,555		444,876
†Veeco Instruments		31,007		1,083,695
†Vitesse Semiconductor		34,900		125,640
†Xcerra		43,741		428,224

				47,772,544

Software–4.35%
A10 Networks		13,600		123,896
ACI Worldwide		86,451		1,621,821
Actua		28,859		462,321
†Actuate		27,242		106,244
Advent Software		40,221		1,269,375
†Amber Road		11,100		192,474
American Software Class A		13,961		123,136
†Aspen Technology		69,175		2,609,281
†AVG Technologies		25,196		417,750
†Barracuda Networks		4,500		115,425
Blackbaud		34,733		1,364,660
†Bottomline Technologies		31,571		871,044
†BroadSoft		19,614		412,679
†Callidus Software		30,357		364,891
†Cinedigm Class A		55,400		85,870
†CommVault Systems		36,602		1,844,741
Compuware		170,300		1,806,883
†Comverse		16,341		364,895
†Covisint		9,900		41,085
†Cyan		36,900		115,128
Digimarc		3,858		79,899


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Software (continued)
Ebix		20,878	$	296,050
†Ellie Mae		22,992		749,539
†EnerNOC		20,785		352,514
EPIQ Systems		24,159		424,232
†ePlus		4,979		279,073
†Everyday Health		9,400		131,318
Fair Isaac		26,139		1,440,259
†Five9		12,000		78,480
†FleetMatics Group		27,039		824,690
†Gigamon		17,500		183,225
Globant		7,400		104,118
†Glu Mobile		74,232		383,779
†Guidance Software		9,449		63,592
†Guidewire Software		52,478		2,326,875
†Imperva		19,161		550,496
†Infoblox		39,492		582,507
†Interactive Intelligence Group		11,720		489,896
†Jive Software		25,355		147,820
Kofax		53,700		415,638
†Manhattan Associates		58,180		1,944,376
†Mavenir Systems		7,600		95,456
Mentor Graphics		75,290		1,543,069
†MicroStrategy		6,984		913,787
†MobileIron		12,300		137,022
†Model N		14,400		141,984
Monotype Imaging Holdings		30,831		873,134
†Netscout Systems		28,456		1,303,285
†Opower		9,700		182,942
†Park City Group		12,800		126,208
†Paycom Software		6,800		112,608
Pegasystems		25,302		483,521
†Progress Software		41,500		992,265
†Proofpoint		26,820		996,095
†PROS Holdings		16,237		409,172
QAD Class A		4,773		88,873
†QLIK Technologies		69,480		1,878,739
†Qualys		17,125		455,525
†Rally Software Development		18,000		216,180
†RealPage		41,511		643,421
†Rosetta Stone		22,571		181,697
†Sapiens International		23,890		176,786
†Seachange International		21,379		148,798
†Silver Spring Networks		25,300		244,145
†SS&C Technologies Holdings		52,617		2,309,360
†Synchronoss Technologies		28,144		1,288,432
†Take-Two Interactive Software		71,641		1,652,758
†Tangoe		33,351		451,906
†TeleCommunication Systems Class A		50,000		139,500
†TeleNav		25,300		169,510
†TiVo		90,499		1,157,935
†Tyler Technologies		25,236		2,230,862
†Ultimate Software Group		21,568		3,052,088


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Software (continued)
†Varonis Systems		3,800	$	80,180
†VASCO Data Security International		26,659		500,656
†Verint Systems		46,070		2,561,953
†VirnetX Holding		29,605		177,630
†Vringo		43,000		40,644
†Zendesk		8,200		177,038

				54,497,139

Specialty Retail–3.16%
Aeropostale		56,182		184,839
American Eagle Outfitters		150,200		2,180,904
†America’s Car-Mart		6,185		244,864
†Ann		36,632		1,506,674
†Asbury Automotive Group		23,844		1,536,030
†Barnes & Noble		33,072		652,841
bebe stores		22,415		52,003
Big 5 Sporting Goods		14,893		139,547
Brown Shoe		34,325		931,237
Buckle		21,508		976,248
†Build-A-Bear Workshop		14,600		190,968
Cato Class A		19,882		685,134
Children’s Place Retail Stores		17,301		824,566
†Christopher & Banks		23,300		230,437
†Citi Trends		13,276		293,400
†Conn’s		20,002		605,461
†Container Store Group		15,800		343,966
Destination Maternity		11,333		174,982
†Destination XL Group		25,722		121,408
†Express		66,175		1,032,992
Finish Line Class A		38,708		968,861
†Five Below		42,118		1,668,294
†Francesca’s Holdings		34,662		482,842
†Gaiam Class A		4,300		31,562
†Genesco		18,632		1,392,742
Group 1 Automotive		18,835		1,369,493
Guess		44,500		977,665
Haverty Furniture		15,814		344,587
†hhgregg		10,548		66,558
†Hibbett Sports		20,483		873,190
†Kirkland’s		7,975		128,477
Lithia Motors Class A		16,837		1,274,393
†Lumber Liquidators Holdings		21,416		1,228,850
†MarineMax		20,040		337,674
†Mattress Firm Holding		11,319		679,819
Men’s Wearhouse		37,142		1,753,845
Monro Muffler Brake		23,349		1,133,127
†New York		18,830		57,055
†Office Depot		413,177		2,123,730
†Outerwall		16,044		900,068
†Pacific Sunwear of California		42,000		75,600
†Pep Boys-Manny Moe & Jack		38,964		347,169
Pier 1 Imports		74,525		886,102


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Specialty Retail (continued)
Rent-A-Center		41,810	$	1,268,933
†Restoration Hardware Holdings		24,167		1,922,485
†Sears Hometown and Outlet Stores		5,500		85,250
†Select Comfort		39,311		822,386
Shoe Carnival		12,521		222,999
Sonic Automotive Class A		28,331		694,393
Stage Stores		23,195		396,866
Stein Mart		16,546		191,106
†Systemax		5,558		69,308
†Tile Shop Holdings		20,300		187,775
†Tilly’s Class A		5,063		38,074
†Vitamin Shoppe		22,807		1,012,403
†West Marine		9,450		85,050
Winmark		1,509		110,912
†Zumiez		17,023		478,346

				39,596,490

Technology Hardware, Storage & Peripherals–0.42%
†Cray		32,469		851,987
†Dot Hill Systems		43,400		164,052
†Eastman Kodak		12,800		281,216
†Electronics for Imaging		35,067		1,548,909
†Immersion		17,427		149,524
†Intevac		17,300		115,391
†Nimble Storage		6,700		173,999
†QLogic		64,241		588,448
†Quantum		129,528		150,252
†Silicon Graphics International		24,767		228,599
†Super Micro Computer		25,215		741,825
†Violin Memory		58,000		282,460

				5,276,662

Textiles, Apparel & Luxury Goods–1.00%
Columbia Sportswear		22,020		787,876
†Crocs		69,100		869,278
Culp		4,841		87,864
†G-III Apparel Group		14,098		1,168,160
†Iconix Brand Group		34,351		1,268,926
†Madden (Steven)		43,734		1,409,547
Movado Group		14,680		485,321
Oxford Industries		11,876		724,317
†Perry Ellis International		10,714		218,030
†Quiksilver		91,745		157,801
†Sequential Brands Group		12,200		152,500
†Skechers U.S.A. Class A		30,113		1,605,324
†Tumi Holdings		36,046		733,536
†Unifi		12,374		320,487
†Vera Bradley		16,479		340,786
†Vince Holding		7,100		214,846
Wolverine World Wide		78,508		1,967,410

				12,512,009


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Thrifts & Mortgage Finance–1.71%
Astoria Financial		61,653	$	763,881
Bank Mutual		28,925		185,409
BankFinancial		13,649		141,677
†BBX Capital Class A		3,000		52,290
†Beneficial Mutual Bancorp		27,508		351,552
Berkshire Hills Bancorp		17,865		419,649
†BofI Holding		11,140		809,989
Brookline Bancorp		53,419		456,732
Capitol Federal Financial		111,600		1,319,112
Charter Financial		14,593		156,145
Clifton Bancorp		19,162		241,250
Dime Community Bancshares		24,751		356,414
ESB Financial		7,738		90,380
Essent Group		30,200		646,582
EverBank Financial		71,165		1,256,774
Federal Agricultural Mortgage Class C		8,874		285,210
First Defiance Financial		6,143		165,922
First Financial Northwest		8,909		90,961
†Flagstar Bancorp		12,700		213,741
Fox Chase Bancorp		5,923		96,604
†Franklin Financial		7,947		147,894
Home Loan Servicing Solutions		54,126		1,146,930
HomeStreet		8,329		142,343
†Kearny Financial		9,068		120,876
†Ladder Capital Class A		10,800		204,120
Meta Financial Group		3,500		123,410
†MGIC Investment		261,850		2,045,049
†NMI Holdings Class A		36,600		316,590
Northfield Bancorp		44,556		606,853
Northwest Bancshares		69,566		841,749
OceanFirst Financial		7,880		125,371
Oritani Financial		32,711		460,898
†PennyMac Financial Services Class A		8,200		120,130
Provident Financial Services		47,831		782,993
Radian Group		146,154		2,084,156
†Stonegate Mortgage		9,300		120,807
Territorial Bancorp		6,742		136,795
†Tree.com		3,305		118,616
Trustco Bank		69,703		448,887
United Community Financial		45,200		211,536
United Financial Bancorp		42,554		540,010
†Walker & Dunlop		13,463		178,923
Washington Federal		78,700		1,602,332
Waterstone Financial		24,864		287,179
WSFS Financial		6,297		450,928

				21,465,649

Tobacco–0.18%
†22nd Century Group		55,300		139,356
†Alliance One International		48,310		95,171
Universal		18,442		818,640


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Tobacco (continued)
Vector Group		54,697	$	1,213,171

				2,266,338

Trading Companies & Distributors–0.88%
Aceto		22,057		426,141
Aircastle		47,644		779,456
Applied Industrial Technologies		31,330		1,430,215
†Beacon Roofing Supply		35,690		909,381
†CAI International		13,507		261,360
†DXP Enterprises		9,412		693,476
H&E Equipment Services		23,781		957,899
Houston Wire & Cable		11,627		139,291
Kaman Class A		21,552		846,994
†Rush Enterprises Class A		27,719		927,201
†Stock Building Supply Holdings		14,700		230,937
TAL International Group		26,586		1,096,673
Textainer Group Holdings		16,720		520,326
†Titan Machinery		14,270		185,367
Watsco		19,173		1,652,329

				11,057,046

Transportation Infrastructure–0.06%
†Wesco Aircraft Holdings		41,320		718,968

				718,968

Water Utilities–0.23%
American States Water		30,754		935,537
Artesian Resources Class A		4,044		81,446
California Water Service Group		37,742		846,930
Connecticut Water Service		9,225		299,813
Middlesex Water		13,731		269,128
SJW		10,915		293,286
York Water		7,303		146,060

				2,872,200

Wireless Telecommunication Services–0.12%
Aerohive Networks		11,200		89,790
†Boingo Wireless		21,997		156,839
†GTT Communications		15,700		186,987
=Leap Wireless International		38,182		96,219
NTELOS Holdings		8,357		88,918
†RingCentral Class A		20,300		258,013
Shenandoah Telecommunications		18,425		457,124
Spok Holdings		12,677		164,928

				1,498,818


Total Common Stock (Cost $1,024,810,047)				1,231,520,021


	Number of Shares		Value (U.S. $)

RIGHTS–0.00%
Cubist Pharmaceuticals		27,386	$	3,012
=Forest Laboratories		3,000		0
=Furiex Pharmaceuticals		5,671		55,406
=Trius Therapeutics		28,563		0

Total Rights (Cost $58,880)				58,418


WARRANTS–0.00%
Greenhunter Energy, exercise price $27.50, expiration date 12/31/15		90		0
Magnum Hunter Resources, exercise price $8.50, expiration date 4/15/16		11,015		0
Tejon Ranch, exercise price $40.00, expiration date 8/31/16		1,546		3,169


Total Warrants (Cost $9,275)				3,169


MONEY MARKET FUND–4.27%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		53,382,921		53,382,921


Total Money Market Fund (Cost $53,382,921)				53,382,921

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments of Level 3 investments that had a material impact to the Fund. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.

« Includes $963,900 cash pledged as collateral for futures contracts as of September 30, 2014.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments.

The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

COMMON STOCK–99.47%
Aerospace & Defense–4.21%
Boeing		45,100	$	5,744,838
Precision Castparts		27,800		6,585,264
United Technologies		33,200		3,505,920

				15,836,022

Air Freight & Logistics–0.62%
FedEx		14,500		2,341,025

				2,341,025

Airlines–2.11%
American Airlines Group		144,500		5,126,860
Delta Air Lines		22,300		806,145
†United Continental Holdings		42,700		1,997,933

				7,930,938

Auto Components–0.65%
Delphi Automotive		40,000		2,453,600

				2,453,600

Automobiles–0.86%
Harley-Davidson		14,000		814,800
†Tesla Motors		10,000		2,426,800

				3,241,600

Beverages–0.39%
PepsiCo		15,600		1,452,204

				1,452,204

Biotechnology–9.82%
†Alexion Pharmaceuticals		28,100		4,659,542
†Biogen Idec		24,600		8,137,926
†Celgene		46,100		4,369,358
†Gilead Sciences		108,500		11,549,825
†Incyte		28,200		1,383,210
†Pharmacyclics		16,600		1,949,338
†Regeneron Pharmaceuticals		5,600		2,018,912
†Vertex Pharmaceuticals		25,400		2,852,674

				36,920,785

Capital Markets–2.97%
BlackRock		6,000		1,969,920
Invesco		39,200		1,547,616
Morgan Stanley		96,400		3,332,548
State Street		30,800		2,267,188
TD AmeriTrade Holding		61,600		2,055,592

				11,172,864

Chemicals–2.45%
Ecolab		34,000		3,904,220
Praxair		5,300		683,700
Sherwin-Williams		21,100		4,620,689

				9,208,609


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Commercial Services & Supplies–0.70%
Tyco International		59,300	$	2,643,001

				2,643,001

Construction Materials–0.33%
Martin Marietta Materials		9,600		1,237,824

				1,237,824

Consumer Finance–0.24%
American Express		10,300		901,662

				901,662

Diversified Financial Services–0.59%
IntercontinentalExchange Group		11,300		2,204,065

				2,204,065

Electronic Equipment, Instruments & Components–0.34%
Mobileye		23,600		1,264,724

				1,264,724

Food & Staples Retailing–2.07%
Costco Wholesale		18,400		2,305,888
CVS Health		50,000		3,979,500
Walgreen		25,000		1,481,750

				7,767,138

Health Care Equipment & Supplies–1.31%
†IDEXX Laboratories		4,800		565,584
†Intuitive Surgical		9,400		4,341,108

				4,906,692

Health Care Providers & Services–3.40%
Humana		16,400		2,136,756
McKesson		40,600		7,903,602
UnitedHealth Group		31,600		2,725,500

				12,765,858

Hotels, Restaurants & Leisure–6.97%
†Chipotle Mexican Grill		6,100		4,066,199
Las Vegas Sands		62,000		3,857,020
†MGM Resorts International		137,010		3,121,088
Starbucks		72,100		5,440,666
Starwood Hotels & Resorts Worldwide		22,000		1,830,620
Wynn Macau		582,400		1,852,615
Wynn Resorts		32,200		6,023,976

				26,192,184

Industrial Conglomerates–2.90%
Danaher		94,240		7,160,355
Roper Industries		25,500		3,730,395

				10,890,750

Internet & Catalog Retail–9.32%
†Amazon.com		45,100		14,542,044
†Ctrip.com International ADR		48,800		2,769,888
†NetFlix		7,600		3,428,968


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Internet & Catalog Retail (continued)
†Priceline Group		10,200	$	11,817,516
†Vipshop Holdings ADR		13,100		2,476,031

				35,034,447

Internet Software & Services–12.77%
†Alibaba Group Holding ADR		52,588		4,672,444
†Baidu ADR		30,200		6,590,546
†Facebook Class A		88,400		6,987,136
†Google		20,100		11,604,936
†Google Class A		19,600		11,532,836
†LinkedIn Class A		13,100		2,722,049
NAVER		2,134		1,632,436
†Pandora Media		34,400		831,104
Tencent Holdings		95,000		1,413,099

				47,986,586

IT Services–5.30%
†Fiserv		24,800		1,602,948
MasterCard Class A		106,700		7,887,264
Visa Class A		48,800		10,412,456

				19,902,668

Machinery–0.85%
Flowserve		13,600		959,072
Wabtec		27,700		2,244,808

				3,203,880

Media–1.60%
Disney (Walt)		53,400		4,754,202
Twenty-First Century Fox Class A		36,500		1,251,585

				6,005,787

Oil, Gas & Consumable Fuels–3.71%
†Concho Resources		14,200		1,780,538
†Continental Resources		28,200		1,874,736
EQT		30,200		2,764,508
Pioneer Natural Resources		24,300		4,786,371
Range Resources		40,188		2,725,148

				13,931,301

Personal Products–0.40%
Estee Lauder Class A		20,000		1,494,400

				1,494,400

Pharmaceuticals–2.38%
Allergan		21,100		3,759,809
†Valeant Pharmaceuticals International		39,400		5,169,280

				8,929,089

Real Estate Investment Trusts–3.87%
American Tower		70,600		6,610,278
Crown Castle International		98,500		7,932,205

				14,542,483


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Road & Rail–1.15%
Hunt (J.B.) Transport Services		19,200	$	1,421,760
Kansas City Southern		23,900		2,896,680

				4,318,440

Semiconductors & Semiconductor Equipment–0.68%
ASML Holding		26,000		2,569,320

				2,569,320

Software–3.51%
†NetSuite		19,300		1,728,122
†Red Hat		37,300		2,094,395
†salesforce.com		82,000		4,717,460
†ServiceNow		28,600		1,681,108
†VMware Class A		20,100		1,886,184
†Workday Class A		13,200		1,089,000

				13,196,269

Specialty Retail–5.35%
†AutoZone		7,700		3,924,382
†CarMax		60,700		2,819,515
Home Depot		44,200		4,054,908
Lowe’s		88,600		4,688,712
Ross Stores		17,200		1,299,976
Tractor Supply		54,000		3,321,540

				20,109,033

Technology Hardware, Storage & Peripherals–2.24%
Apple		57,300		5,772,975
†Stratasys		21,800		2,633,004

				8,405,979

Textiles, Apparel & Luxury Goods–2.17%
Hanesbrands		23,000		2,471,120
†Michael Kors Holdings		27,800		1,984,642
NIKE Class B		24,900		2,221,080
†Under Armour Class A		21,400		1,478,740

				8,155,582

Trading Companies & Distributors–0.35%
Grainger (W.W.)		5,300		1,333,745

				1,333,745

Wireless Telecommunication Services–0.89%
SoftBank		47,500		3,330,392

				3,330,392

Total Common Stock (Cost $227,944,179)				373,780,946

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

COMMON STOCK–99.43%
Aerospace & Defense–1.07%
†DigitalGlobe		32,700	$	931,950
Textron		58,600		2,109,014
TransDigm Group		13,200		2,433,156

				5,474,120

Air Freight & Logistics–0.46%
Expeditors International of Washington		35,500		1,440,590
Robinson (C.H.) Worldwide		14,100		935,112

				2,375,702

Airlines–2.12%
Alaska Air Group		40,200		1,750,308
Copa Holdings Class A		22,500		2,414,025
Southwest Airlines		86,100		2,907,597
†Spirit Airlines		26,800		1,852,952
†United Continental Holdings		40,900		1,913,711

				10,838,593

Auto Components–0.91%
Delphi Automotive		60,500		3,711,070
Gentex		34,500		923,565

				4,634,635

Banks–0.56%
BankUnited		42,600		1,298,874
†SVB Financial Group		13,800		1,546,842

				2,845,716

Beverages–0.73%
Brown-Forman Class B		30,262		2,730,238
Dr Pepper Snapple Group		15,900		1,022,529

				3,752,767

Biotechnology–5.11%
†ACADIA Pharmaceuticals		57,100		1,413,796
†Alexion Pharmaceuticals		15,000		2,487,300
†Alkermes		47,400		2,032,038
†Alnylam Pharmaceuticals		19,800		1,546,380
†BioMarin Pharmaceutical		25,700		1,854,512
†Incyte		59,900		2,938,095
†Intercept Pharmaceuticals		3,800		899,422
†Myriad Genetics		28,300		1,091,531
†NPS Pharmaceuticals		30,500		793,000
†Pharmacyclics		15,200		1,784,936
†Puma Biotechnology		9,200		2,194,844
†Regeneron Pharmaceuticals		3,400		1,225,768
†Seattle Genetics		23,600		877,448
†United Therapeutics		9,000		1,157,850
†Vertex Pharmaceuticals		33,700		3,784,847

				26,081,767

Building Products–0.60%
†Armstrong World Industries		18,100		1,013,600


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Building Products (continued)
Fortune Brands Home & Security		49,400	$	2,030,834

				3,044,434

Capital Markets–2.47%
Artisan Partners Asset Management		24,300		1,264,815
†E Trade Financial		112,300		2,536,857
Financial Engines		21,300		728,780
Invesco		28,300		1,117,284
Lazard Class A		42,100		2,134,470
LPL Financial Holdings		38,300		1,763,715
Northern Trust		12,600		857,178
TD AmeriTrade Holding		66,800		2,229,116

				12,632,215

Chemicals–3.55%
Airgas		27,700		3,065,005
Celanese Class A		53,300		3,119,116
CF Industries Holdings		4,900		1,368,178
FMC		23,500		1,343,965
RPM International		30,400		1,391,712
Sherwin-Williams		23,600		5,168,164
Sociedad Quimica y Minera de Chile ADR		26,300		687,482
Valspar		25,100		1,982,649

				18,126,271

Commercial Services & Supplies–1.10%
†Clean Harbors		16,500		889,680
†Copart		24,100		754,691
Kar Auction Services		43,000		1,231,090
Ritchie Bros Auctioneers		36,500		817,235
†Stericycle		7,200		839,232
Waste Connections		22,250		1,079,570

				5,611,498

Communications Equipment–0.52%
†F5 Networks		12,600		1,496,124
Motorola Solutions		18,300		1,158,024

				2,654,148

Construction & Engineering–0.42%
†Jacobs Engineering Group		23,200		1,132,624
†Quanta Services		28,100		1,019,749

				2,152,373

Construction Materials–0.74%
Eagle Materials		14,000		1,425,620
Vulcan Materials		39,200		2,361,016

				3,786,636

Containers & Packaging–0.68%
Ball		54,800		3,467,196

				3,467,196


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Diversified Consumer Services–0.14%
Sotheby’s		19,600	$	700,112

				700,112

Diversified Financial Services–2.22%
CBOE Holdings		49,700		2,660,193
†FNFV Group		18,864		259,569
IntercontinentalExchange Group		12,200		2,379,610
McGraw-Hill Financial		32,200		2,719,290
Moody’s		26,500		2,504,250
†MSCI Class A		17,500		822,850

				11,345,762

Electrical Equipment–1.84%
AMETEK		32,625		1,638,101
Babcock & Wilcox		34,900		966,381
†Generac Holdings		20,700		839,178
Hubbell Class B		15,900		1,916,427
†Sensata Technologies Holding		90,800		4,043,324

				9,403,411

Electronic Equipment, Instruments & Components–1.43%
Amphenol Class A		27,500		2,746,150
FEI		16,100		1,214,262
†IPG Photonics		22,900		1,575,062
†Trimble Navigation		57,800		1,762,900

				7,298,374

Energy Equipment & Services–0.93%
†Cameron International		17,400		1,155,012
Core Laboratories		8,700		1,273,245
Frank’s International		43,000		804,100
Oceaneering International		23,100		1,505,427

				4,737,784

Food & Staples Retailing–1.41%
†Fresh Market		24,700		862,771
PriceSmart		10,400		890,656
†Rite Aid		479,200		2,319,328
†Sprouts Farmers Market		49,900		1,450,593
Whole Foods Market		44,500		1,695,895

				7,219,243

Food Products–2.18%
Flowers Foods		111,150		2,040,714
Hershey		19,500		1,860,885
Keurig Green Mountain		9,400		1,223,222
McCormick		37,900		2,535,510
Mead Johnson Nutrition		23,600		2,270,792
Smucker (J.M.)		11,900		1,177,981

				11,109,104

Health Care Equipment & Supplies–2.27%
†Align Technology		22,400		1,157,632
DENTSPLY International		20,200		921,120


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Health Care Equipment & Supplies (continued)
†IDEXX Laboratories		21,800	$	2,568,694
†Intuitive Surgical		6,600		3,048,012
†Sirona Dental Systems		22,300		1,709,964
Teleflex		12,400		1,302,496
†Thoratec		32,200		860,706

				11,568,624

Health Care Providers & Services–3.35%
AmerisourceBergen		43,400		3,354,820
†Catamaran		20,490		863,653
Cigna		11,200		1,015,728
†DaVita HealthCare Partners		23,400		1,711,476
†Envision Healthcare Holdings		41,100		1,425,348
†Henry Schein		16,300		1,898,461
Humana		15,400		2,006,466
†Mednax		29,300		1,606,226
†Team Health Holdings		21,700		1,258,383
Universal Health Services Class B		11,300		1,180,850
†WellCare Health Plans		12,800		772,352

				17,093,763

Health Care Technology–0.96%
†athenahealth		6,100		803,309
†Cerner		31,100		1,852,627
†Medidata Solutions		18,400		814,936
†Veeva Systems Class A		50,400		1,419,768

				4,890,640

Hotels, Restaurants & Leisure–4.80%
†Bloomin’ Brands		77,000		1,412,180
Brinker International		29,100		1,477,989
†Chipotle Mexican Grill		5,300		3,532,927
Choice Hotels International		33,500		1,742,000
Extended Stay America		43,100		1,023,194
Marriott International Class A		34,757		2,429,514
†MGM Resorts International		104,900		2,389,622
†Norwegian Cruise Line Holdings		8,400		302,568
†Panera Bread Class A		8,300		1,350,576
Papa John’s International		32,600		1,303,674
Royal Caribbean Cruises		14,800		995,892
Starwood Hotels & Resorts Worldwide		32,900		2,737,609
Wynn Resorts		20,500		3,835,140

				24,532,885

Household Durables–0.27%
†Toll Brothers		43,900		1,367,924

				1,367,924

Household Products–0.61%
Church & Dwight		28,700		2,013,592
Clorox		11,600		1,114,064

				3,127,656


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Independent Power and Renewable Electricity Producers–0.19%
†Calpine		44,000	$	954,800

				954,800

Industrial Conglomerates–0.68%
Roper Industries		23,700		3,467,073

				3,467,073

Insurance–0.94%
FNF Group		83,800		2,324,612
HCC Insurance Holdings		18,000		869,220
Progressive		63,000		1,592,640

				4,786,472

Internet & Catalog Retail–1.96%
†Coupons.com		57,566		688,489
†HomeAway		29,600		1,050,800
†Liberty Interactive Class A		48,600		1,386,072
†NetFlix		8,200		3,699,676
†TripAdvisor		14,400		1,316,448
†Vipshop Holdings ADR		4,600		869,446
†zulily Class A		26,700		1,011,663

				10,022,594

Internet Software & Services–3.59%
†Akamai Technologies		29,700		1,776,060
†CoStar Group		12,500		1,944,250
†Dealertrack Technology		21,800		946,338
†@=Dropbox		7,607		145,294
†Equinix		8,100		1,721,088
†LinkedIn Class A		15,200		3,158,408
MercadoLibre		8,900		966,985
†Pandora Media		36,100		872,176
†Rackspace Hosting		29,600		963,480
†TIBCO Software		48,000		1,134,240
†Twitter		38,300		1,975,514
†VeriSign		49,900		2,750,488

				18,354,321

IT Services–3.78%
†Alliance Data Systems		5,400		1,340,658
†CoreLogic		79,100		2,141,237
Fidelity National Information Services		60,000		3,378,000
†Fiserv		37,000		2,391,495
†Gartner		39,800		2,924,106
†Genpact		37,200		607,104
Global Payments		18,000		1,257,840
Paychex		18,800		830,960
†Sapient		57,200		800,800
†Vantiv Class A		78,300		2,419,470
†WEX		10,900		1,202,488

				19,294,158

Leisure Products–0.76%
Mattel		43,500		1,333,275


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Leisure Products (continued)
Polaris Industries		17,000	$	2,546,430

				3,879,705

Life Sciences Tools & Services–1.54%
Agilent Technologies		46,300		2,638,174
†Bruker		47,400		877,611
†Covance		10,400		818,480
†Mettler-Toledo International		9,400		2,407,622
†Quintiles Transnational Holdings		20,300		1,132,334

				7,874,221

Machinery–5.12%
CLARCOR		14,200		895,736
Donaldson		47,400		1,925,862
Flowserve		35,900		2,531,668
Graco		29,200		2,131,016
IDEX		18,625		1,347,891
Nordson		13,800		1,049,766
PACCAR		24,900		1,416,188
Pall		30,800		2,577,960
†Rexnord		62,400		1,775,280
Snap-on		13,900		1,683,012
Terex		36,900		1,172,313
Valmont Industries		13,300		1,794,569
†WABCO Holdings		15,000		1,364,250
Wabtec		28,700		2,325,848
Xylem		59,900		2,125,851

				26,117,210

Media–1.87%
†Charter Communications Class A		12,200		1,846,714
†Discovery Communications Class C		109,000		4,063,520
Interpublic Group		80,600		1,476,592
†Markit		52,700		1,230,545
Omnicom Group		13,600		936,496

				9,553,867

Metals & Mining–0.63%
Carpenter Technology		16,800		758,520
Compass Minerals International		10,200		859,656
Eldorado Gold		97,700		658,498
†Stillwater Mining		63,700		957,411

				3,234,085

Multiline Retail–1.06%
†Dollar General		31,000		1,894,410
†Dollar Tree		62,800		3,521,196

				5,415,606

Multi-Utilities–0.33%
NiSource		40,600		1,663,788

				1,663,788


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Oil, Gas & Consumable Fuels–5.83%
†Antero Resources		15,000	$	823,350
†Athlon Energy		34,600		2,014,758
Cabot Oil & Gas		62,400		2,039,856
Cimarex Energy		15,000		1,897,950
†Concho Resources		22,100		2,771,119
†Continental Resources		16,000		1,063,680
†Diamondback Energy		28,700		2,146,186
EQT		40,400		3,698,216
Pioneer Natural Resources		17,100		3,368,187
Range Resources		62,400		4,231,344
†Rice Energy		35,500		944,300
SM Energy		14,500		1,131,000
Tesoro		21,800		1,329,364
†Whiting Petroleum		15,400		1,194,270
†WPX Energy		46,400		1,116,384

				29,769,964

Pharmaceuticals–2.73%
†Catalent		104,000		2,603,120
†Endo International		37,400		2,555,916
†Hospira		21,700		1,129,051
†Jazz Pharmaceuticals		9,100		1,461,096
†Pacira Pharmaceuticals		9,700		940,124
†Salix Pharmaceuticals		14,100		2,202,984
Zoetis		83,100		3,070,545

				13,962,836

Professional Services–2.39%
Corporate Executive Board		13,700		822,959
Equifax		12,900		964,146
†IHS Class A		19,400		2,428,686
ManpowerGroup		23,900		1,675,390
Nielsen Holdings		33,500		1,485,055
Robert Half International		29,500		1,445,500
†Verisk Analytics Class A		55,300		3,367,217

				12,188,953

Real Estate Investment Trusts–1.17%
Crown Castle International		62,200		5,008,966
Federal Realty Investment Trust		8,000		947,680

				5,956,646

Real Estate Management & Development–0.34%
Jones Lang LaSalle		13,600		1,718,224

				1,718,224

Road & Rail–1.73%
†Genesee & Wyoming		14,800		1,410,588
†Hertz Global Holdings		31,900		809,941
Hunt (J.B.) Transport Services		27,100		2,006,755
Kansas City Southern		28,300		3,429,960
Landstar System		16,100		1,162,259

				8,819,503


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Semiconductors & Semiconductor Equipment–3.05%
Altera		106,100	$	3,796,258
ARM Holdings ADR		66,100		2,887,909
KLA-Tencor		18,400		1,449,552
Linear Technology		42,200		1,873,258
Microchip Technology		28,600		1,350,778
Skyworks Solutions		38,000		2,205,900
Xilinx		47,100		1,994,685

				15,558,340

Software–4.99%
†ANSYS		15,700		1,188,019
†@=Atlassian Class A		20,989		335,824
†@=Atlassian Series 1		6,969		111,504
†@=Atlassian Series 2		18,662		298,592
†@=Atlassian Series A		13,800		220,800
†Autodesk		18,300		1,008,330
†Check Point Software Technologies		15,500		1,073,220
†Citrix Systems		17,200		1,227,048
†Concur Technologies		4,700		596,054
FactSet Research Systems		7,750		941,857
†Guidewire Software		32,700		1,449,918
Intuit		35,100		3,076,515
Mobileye		31,600		1,693,444
†NetSuite		20,500		1,835,570
†Red Hat		61,100		3,430,765
†ServiceNow		53,600		3,150,608
Solera Holdings		14,000		789,040
†Tableau Software Class A		17,400		1,264,110
†Workday Class A		21,605		1,782,413

				25,473,631

Specialty Retail–6.72%
†AutoZone		8,200		4,179,212
†CarMax		88,300		4,101,535
Dick’s Sporting Goods		26,100		1,145,268
†Five Below		37,400		1,481,414
L Brands		43,500		2,913,630
†Lumber Liquidators Holdings		10,800		619,704
†Michaels		61,500		1,075,020
†O’Reilly Automotive		22,500		3,383,100
PETsMART		17,000		1,191,530
†Restoration Hardware Holdings		18,300		1,455,765
Ross Stores		58,500		4,421,430
Tiffany & Co.		29,300		2,821,883
Tractor Supply		49,000		3,013,990
†Ulta Salon Cosmetics & Fragrance		7,300		862,641
Williams-Sonoma		24,600		1,637,622

				34,303,744

Technology Hardware, Storage & Peripherals–0.63%
SanDisk		19,800		1,939,410


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Technology Hardware, Storage & Peripherals (continued)
†Stratasys		10,400	$	1,256,112

				3,195,522

Textiles, Apparel & Luxury Goods–2.11%
Coach		28,600		1,018,446
†Fossil Group		13,300		1,248,870
Hanesbrands		46,000		4,942,240
†Kate Spade		65,800		1,725,934
†lululemon athletica		21,500		903,215
Wolverine World Wide		37,100		929,726

				10,768,431

Trading Companies & Distributors–0.83%
Fastenal		34,100		1,531,090
Grainger (W.W.)		10,700		2,692,655

				4,223,745

Wireless Telecommunication Services–1.01%
†SBA Communications Class A		46,700		5,179,030

				5,179,030


Total Common Stock (Cost $340,315,197)				507,609,822


	Number of Shares		Value (U.S. $)

PREFERRED STOCK–0.36%
@=Airbnb Cvt 0.00%		18,795	$	765,201
†@=Dropbox Series A 0.00%		9,449		180,476
†@=Dropbox Series A-1 0.00%		46,402		886,278


Total Preferred Stock (Cost $1,270,602)				1,831,955


MONEY MARKET FUND–0.00%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		28,148		28,148


Total Money Market Fund (Cost $28,148)				28,148

The following table summarizes the valuation of each Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers betwween Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing during the period. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

DCOMMON STOCK–86.75%
Brazil–0.16%
Petroleo Brasileiro ADR		77,178	$	1,149,180

				1,149,180

Canada–0.65%
Talisman Energy		532,660		4,609,077

				4,609,077

France–8.34%
AXA		235,896		5,813,204
BNP Paribas		147,750		9,801,441
Cie de Saint-Gobain		130,640		5,979,187
Credit Agricole		440,310		6,643,278
Michelin Class B		54,110		5,104,105
Sanofi		92,166		10,426,116
Technip		42,620		3,585,837
Total		106,820		6,941,857
Vivendi		220,187		5,317,620

				59,612,645

Germany–5.15%
Bayer		57,130		8,002,644
Deutsche Boerse		68,110		4,587,966
Deutsche Lufthansa		194,950		3,079,248
HeidelbergCement		50,290		3,323,434
Infineon Technologies ADR		411,748		4,241,004
Merck		49,760		4,590,071
†Metro		111,350		3,668,052
Muenchener Rueckversicherungs		11,130		2,200,827
Siemens ADR		26,350		3,137,495

				36,830,741

nHong Kong–5.35%
AIA Group		839,800		4,342,385
China Life Insurance		2,135,000		5,925,324
China Shenhua Energy		1,105,000		3,080,967
China Telecom		12,606,000		7,727,717
CSR		2,278,400		2,004,092
Kunlun Energy		2,812,000		4,056,022
Noble Group		4,335,000		4,417,748
Sinopharm Group		1,051,600		3,846,235
Weichai Power		782,000		2,824,923

				38,225,413

Ireland–0.86%
CRH		269,239		6,158,772

				6,158,772

Israel–1.36%
Teva Pharmaceutical Industries ADR		180,705		9,712,894

				9,712,894

Italy–2.80%
ENI		310,037		7,389,638
Intesa Sanpaolo		883,607		2,685,298


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Italy (continued)
†Saipem		149,658	$	3,183,316
UniCredit		857,137		6,777,387

				20,035,639

Japan–4.58%
ITOCHU		205,980		2,516,876
Konica Minolta Holdings		352,200		3,802,533
Nikon		216,300		3,126,207
Nissan Motor		887,100		8,647,334
Suntory Beverage & Food		197,000		6,987,918
Toyota Motor ADR		44,607		5,242,661
Trend Micro		71,810		2,429,354

				32,752,883

Netherlands–4.51%
Akzo Nobel		85,650		5,869,010
Fugro		32,790		992,560
†ING Groep		502,212		7,174,430
Koninklijke Philips Electronics		48,370		1,543,594
†NN Group		103,200		2,994,835
†QIAGEN		83,854		1,909,665
Reed Elsevier		104,023		2,361,104
Royal Dutch Shell Class A		940		35,940
Royal Dutch Shell Class B		106,430		4,204,646
†SBM Offshore		42,991		624,201
TNT Express		714,790		4,526,896

				32,236,881

Norway–0.79%
Telenor		256,610		5,631,617

				5,631,617

Portugal–0.75%
Galp Energia		329,170		5,351,019

				5,351,019

Republic of Korea–3.31%
Hyundai Mobis		15,430		3,758,955
KB Financial Group		35,093		1,282,369
POSCO ADR		83,745		6,356,246
Samsung Electronics		10,887		12,218,786

				23,616,356

Russia–0.45%
MMC Norilsk Nickel OJSC ADR		171,593		3,200,209

				3,200,209

Singapore–1.10%
DBS Group Holdings		267,105		3,856,915
Singapore Telecommunications		1,331,860		3,967,442

				7,824,357


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
Spain–0.95%
Telefonica		440,654	$	6,821,011

				6,821,011

Sweden–0.61%
Getinge Class B		173,390		4,375,538

				4,375,538

Switzerland–3.88%
†ABB		283,850		6,386,737
ACE		16,150		1,693,651
Credit Suisse Group		206,094		5,714,459
Novartis		27,010		2,550,622
Roche Holding		30,270		8,976,522
Swiss Re		30,470		2,430,514

				27,752,505

Taiwan–0.28%
Taiwan Semiconductor Manufacturing ADR.		97,374		1,965,007

				1,965,007

United Kingdom–9.82%
Aviva		885,400		7,513,910
BAE Systems		641,730		4,905,055
Barclays		1,071,940		3,952,448
BP ADR		93,448		4,107,040
British Sky Broadcasting Group		292,764		4,185,969
G4S		615,760		2,502,509
GlaxoSmithKline		370,310		8,482,374
HSBC Holdings		891,650		9,134,852
Kingfisher		815,318		4,281,025
†Lloyds Banking Group		4,341,190		5,409,729
Marks & Spencer Group		685,940		4,499,060
Rexam		363,483		2,897,894
Serco Group		328,970		1,525,752
Tesco		1,176,760		3,552,036
Vodafone Group ADR		97,455		3,205,295

				70,154,948

United States–31.05%
†Actavis		65,280		15,750,758
Allegheny Technologies		180,520		6,697,292
American International Group		121,510		6,563,970
Amgen		82,560		11,596,378
Applied Materials		253,710		5,482,673
Baker Hughes		71,600		4,658,296


	Number of Shares		Value (U.S. $)

DCOMMON STOCK (continued)
United States (continued)
Bank of New York Mellon		81,040	$	3,138,679
Capital One Financial		76,110		6,212,098
Chesapeake Energy		83,940		1,929,781
Chevron		23,190		2,767,031
Cisco Systems		248,480		6,254,242
Citigroup		214,220		11,100,880
Comcast Class A		171,645		9,183,007
CVS Health		77,900		6,200,061
Foot Locker		137,540		7,654,101
†Gilead Sciences		97,350		10,362,908
†Isis Pharmaceuticals		37,250		1,446,418
JPMorgan Chase		176,830		10,652,239
†Knowles		163,330		4,328,245
Macy’s		141,700		8,244,106
Medtronic		91,920		5,694,444
Merck		96,800		5,738,304
Microsoft		282,580		13,100,409
Morgan Stanley		199,260		6,888,418
†News Class A		354,450		5,795,258
Noble		171,490		3,810,508
Paragon Offshore		57,163		351,552
Pfizer		212,740		6,290,722
†Seventy Seven Energy		5,995		142,321
Stanley Black & Decker		52,860		4,693,439
Symantec		67,430		1,585,279
Target		58,120		3,642,962
Twenty-First Century Fox Class A		192,420		6,598,082
United Parcel Service Class B		29,510		2,900,538
Verizon Communications		46,989		2,348,980
Voya Financial		173,520		6,784,632
Walgreen		88,610		5,251,915

				221,840,926


Total Common Stock (Cost $515,333,792)				619,857,618


MONEY MARKET FUND–13.76%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		98,333,372		98,333,372


Total Money Market Fund (Cost $98,333,372)				98,333,372

n Securities listed and traded on the Hong Kong Stock Exchange. These securities have significant business operations in China.

« Includes $1,105,200 cash and $1,499,693 foreign currencies pledged as collateral for futures contracts as of September 30, 2014.

The following foreign currency exchange contracts and futures contracts were outstanding at September 30, 2014:

The use of foreign currency exchange contracts and futures contracts involves elements of market risk and risks in excess of the amount disclosed in the financial statements. The foreign currency exchange contracts and futures contracts presented above represents the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund’s net assets.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

During the period ended September 30, 2014, there were no transfers between Level 1 investments, Level 2 investments or Level 3 investments that had a material impact to the Fund. This does not include transfers between Level 1 investments and Level 2 investments due to the Fund utilizing international fair value pricing during the period. The Fund’s policy is to recognize transfers between levels as of the beginning of the reporting period in which the transfer occurred.


	Number of Shares		Value (U.S. $)

COMMON STOCK–93.07%
Aerospace & Defense–3.61%
Precision Castparts		51,300	$	12,151,944
United Technologies		67,700		7,149,120

				19,301,064

Auto Components–1.20%
Borg Warner		121,800		6,407,898

				6,407,898

Banks–0.39%
†Signature Bank		18,600		2,084,316

				2,084,316

Biotechnology–6.98%
†Biogen Idec		30,400		10,056,624
†Gilead Sciences		140,000		14,903,000
†Regeneron Pharmaceuticals		34,400		12,401,888

				37,361,512

Chemicals–2.76%
LyondellBasell Industries Class A		68,900		7,486,674
Sherwin-Williams		33,200		7,270,468

				14,757,142

Communications Equipment–0.67%
Cisco Systems		141,800		3,569,106

				3,569,106

Consumer Finance–1.37%
American Express		83,600		7,318,344

				7,318,344

Diversified Financial Services–1.39%
IntercontinentalExchange		38,200		7,450,910

				7,450,910

Electrical Equipment–1.30%
AMETEK		138,900		6,974,169

				6,974,169

Energy Equipment & Services–3.50%
Halliburton		136,800		8,824,968
Schlumberger		97,500		9,914,775

				18,739,743

Food & Staples Retailing–1.28%
Walgreen		115,200		6,827,904

				6,827,904

Food Products–1.39%
†Hain Celestial Group		72,500		7,420,375

				7,420,375

Health Care Equipment & Supplies–1.96%
Cooper		32,100		4,999,575


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Health Care Equipment & Supplies (continued)
†Intuitive Surgical		11,900	$	5,495,658

				10,495,233

Health Care Providers & Services–2.13%
†Catalent		192,000		4,805,760
†Catamaran		156,100		6,579,615

				11,385,375

Hotels, Restaurants & Leisure–4.79%
Las Vegas Sands		194,100		12,074,961
Starbucks		179,500		13,545,070

				25,620,031

Industrial Conglomerates–1.26%
Danaher		88,700		6,739,426

				6,739,426

Internet & Catalog Retail–4.98%
†Alibaba Group Holding ADR		56,600		5,028,910
†Amazon.com		30,800		9,931,152
†Priceline Group		10,100		11,701,658

				26,661,720

Internet Software & Services–9.83%
†Facebook Class A		220,800		17,452,032
†Google		20,800		12,009,088
†Google Class A		27,500		16,181,275
†LinkedIn Class A		33,500		6,960,965

				52,603,360

IT Services–5.41%
MasterCard Class A		49,200		3,636,864
Sabre		294,200		5,270,593
Visa Class A		93,900		20,035,443

				28,942,900

Life Sciences Tools & Services–1.67%
Thermo Fisher Scientific		73,400		8,932,780

				8,932,780

Machinery–0.83%
Cummins		33,500		4,421,330

				4,421,330

Media–2.83%
Comcast Class A		115,900		6,233,102
Viacom Class B		116,100		8,932,734

				15,165,836

Oil, Gas & Consumable Fuels–0.95%
†Concho Resources		40,400		5,065,756

				5,065,756


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Personal Products–1.51%
Estee Lauder Class A		108,500	$	8,107,120

				8,107,120

Pharmaceuticals–1.81%
AbbVie		73,700		4,256,912
Allergan		30,400		5,416,976

				9,673,888

Real Estate Investment Trusts–1.45%
Crown Castle International		96,200		7,746,986

				7,746,986

Road & Rail–1.71%
Canadian Pacific Railway		44,100		9,149,427

				9,149,427

Semiconductors & Semiconductor Equipment–1.67%
Altera		250,200		8,952,156

				8,952,156

Software–5.94%
†salesforce.com		261,100		15,021,083
†ServiceNow		147,600		8,675,928
†VMware Class A		86,100		8,079,624

				31,776,635

Specialty Retail–5.11%
Home Depot		206,000		18,898,440
TJX		142,600		8,437,642

				27,336,082

Technology Hardware, Storage & Peripherals–6.24%
Apple		331,100		33,358,325

				33,358,325


	Number of Shares		Value (U.S. $)

COMMON STOCK (continued)
Textiles, Apparel & Luxury Goods–5.15%
†Michael Kors Holdings		102,500	$	7,317,475
NIKE Class B		158,300		14,120,360
Ralph Lauren		37,100		6,111,483

				27,549,318


Total Common Stock (Cost $374,613,779)				497,896,167


EXCHANGE-TRADED FUND–0.19%
iShares Russell 1000 Growth Index Fund		11,245		1,030,379


Total Exchange-Traded Fund (Cost $748,372)				1,030,379


MONEY MARKET FUND–5.95%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		31,810,196		31,810,196


Total Money Market Fund (Cost $31,810,196)				31,810,196

« Includes $4,002,000 cash pledged as collateral for futures contracts as of September 30, 2014.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

« Includes $547,400 cash pledged as collateral for futures contracts as of September 30, 2014.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

« Includes $13,800 cash pledged as collateral for futures contracts as of September 30, 2014.

The following table summarizes the valuation of the Fund’s investments by fair value hierarchy levels as of September 30, 2014:

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto as Exhibit 99.CERT.

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.


TOTAL VALUE OF SECURITIES–100.10% (Cost $741,168,918)		838,322,928
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.10%)		(796,280	)

NET ASSETS APPLICABLE TO 65,147,826 SHARES OUTSTANDING–100.00%	$	837,526,648


TOTAL VALUE OF SECURITIES–100.07% (Cost $197,872,982)		213,377,418
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.07%)		(148,135	)

NET ASSETS APPLICABLE TO 17,877,539 SHARES OUTSTANDING–100.00%	$	213,229,283


TOTAL VALUE OF SECURITIES–100.12% (Cost $738,030,298)		848,487,761
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.12%)		(1,029,351	)

NET ASSETS APPLICABLE TO 63,299,065 SHARES OUTSTANDING–100.00%	$	847,458,410


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANIES–100.11%
Equity Fund–92.46%
*American Century VIP Mid Cap Value		2,433,947	$	45,295,746


				45,295,746


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANIES (continued)
Money Market Fund–7.65%
Dreyfus Treasury & Agency Cash Management Fund - Institutional Shares		3,750,764	$	3,750,764


				3,750,764

Total Investment Companies (Cost $48,659,505)				49,046,510


TOTAL VALUE OF SECURITIES–100.11% (Cost $48,659,505)		49,046,510
«LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.11%)		(55,750	)

NET ASSETS APPLICABLE TO 4,495,001 SHARES OUTSTANDING–100.00%	$	48,990,760


Contracts to Buy (Sell)	Notional Cost (Proceeds)	Notional Value	Expiration Date	Unrealized Appreciation (Depreciation)
25 E-mini S&P 500 Index	$2,486,170	$2,456,875	12/22/14	$(29,295)


	Level 1
Investment Companies	$	49,046,510

Futures Contracts	$	(29,295	)


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANY–100.07%
International Equity Fund–100.07%
American Funds Insurance Series^®–
Global Growth Fund Class 1		3,217,305		$ 87,961,126

Total Investment Company (Cost $74,123,797)				87,961,126


TOTAL VALUE OF SECURITIES–100.07% (Cost $74,123,797)				87,961,126
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.07%)				(60,355	)

NET ASSETS APPLICABLE TO 5,014,065 SHARES OUTSTANDING–100.00%				$87,900,771


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANY–100.08%
International Equity Fund–100.08%
American Funds Insurance Series^®–
Global Small Capitalization Fund Class 1		2,678,434		$ 69,050,026

Total Investment Company (Cost $52,986,670)				69,050,026


TOTAL VALUE OF SECURITIES–100.08% (Cost $52,986,670)				69,050,026
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.08%)				(52,973	)

NET ASSETS APPLICABLE TO 4,497,090 SHARES OUTSTANDING–100.00%				$68,997,053


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANY–100.06%
Equity Fund–100.06%
American Funds Insurance Series^®–
Growth Fund Class 1		3,875,327		$ 303,438,094

Total Investment Company (Cost $222,210,193)				303,438,094


TOTAL VALUE OF SECURITIES–100.06% (Cost $222,210,193)				303,438,094
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.06%)				(170,559	)

NET ASSETS APPLICABLE TO 15,986,084 SHARES OUTSTANDING–100.00%				$303,267,535


	Number of Shares		Value (U.S. $)

INVESTMENT COMPANY–100.05%
Equity Fund–100.05%
American Funds Insurance Series^®–
Growth-Income Fund Class 1		4,904,147	$	254,966,623

Total Investment Company (Cost $178,484,793)				254,966,623


TOTAL VALUE OF SECURITIES–100.05% (Cost $178,484,793)				254,966,623
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.05%)				(136,433	)

NET ASSETS APPLICABLE TO 12,983,458 SHARES OUTSTANDING–100.00%				$254,830,190


TOTAL VALUE OF SECURITIES–100.28% (Cost $258,583,251)		259,240,906
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.28%)		(723,601	)

NET ASSETS APPLICABLE TO 26,023,395 SHARES OUTSTANDING–100.00%	$	258,517,305


TOTAL VALUE OF SECURITIES–99.94% (Cost $10,237,133)		$10,349,457
« RECEIVABLES AND OTHER ASSETS NET OF LIABILITIES–0.06%		5,959

NET ASSETS APPLICABLE TO 1,015,791 SHARES OUTSTANDING–100.00%		$10,355,416


	Level 1
Common Stock	$	7,934,734
Preferred Stock		19,972
Investment Companies		1,069,941
Money Market Fund		1,324,810

Total	$	10,349,457

Futures Contracts	$	(7,044	)


TOTAL VALUE OF SECURITIES–100.29% (Cost $278,391,254)	$560,547,153
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.29%)	(1,642,185	)

NET ASSETS APPLICABLE TO 12,631,934 SHARES OUTSTANDING–100.00%	$558,904,968


	Level 1
Common Stock		$552,412,733
Convertible Preferred Stock		997,283
Money Market Fund		7,137,137

Total		$560,547,153


TOTAL VALUE OF SECURITIES–98.78% (Cost $223,527,940)		240,995,181
« RECEIVABLES AND OTHER ASSETS NET OF LIABILITIES–1.22%		2,973,142

NET ASSETS APPLICABLE TO 24,285,092 SHARES OUTSTANDING–100.00%		$243,968,323


	Level 1			Level 2		Level 3		Total
Common Stock	$	190,501,319		$	531,528	$	374,667	$	191,407,514
Exchange-Traded Funds		13,017,657			—		—		13,017,657
Preferred Stock		11,097,922			—		—		11,097,922
Rights		1,005			9,869		—		10,874
Warrants		1,626			—		—		1,626
Money Market Fund		25,459,588			—		—		25,459,588

Total	$	240,079,117		$	541,397	$	374,667	$	240,995,181

Foreign Currency Exchange Contracts	$	—		$	6	$	—	$	6

Futures Contracts	$	(3,069,694	)	$	—	$	—	$	(3,069,694	)


TOTAL VALUE OF SECURITIES–99.74% (Cost $670,754,295)	$	799,175,338
«RECEIVABLES AND OTHER ASSETS NET OF LIABILITIES–0.26%		2,102,364

NET ASSETS APPLICABLE TO 44,970,613 SHARES OUTSTANDING–100.00%	$	801,277,702


	Level 1
Common Stock	$	742,818,597
Money Market Fund		56,356,741

Total	$	799,175,338

Futures Contracts	$	(30,828	)


	Number of Shares		Value (U.S. $)
INVESTMENT COMPANIES–99.77%
International Equity Fund–96.08%
*BlackRock Global Allocation V.I. Fund		38,628,176	$	691,444,359


				691,444,359


Contracts to Buy (Sell)			Notional Cost (Proceeds)		Notional Value		Expiration Date		Unrealized Appreciation (Depreciation)
	80	British Pound Currency	$	8,094,059	$	8,095,500		12/16/14	$	1,441
	136	E-mini MSCI Emerging Markets Index		7,251,807		6,818,360		12/22/14		(433,447	)
	52	E-mini Russell 2000 Index		6,020,747		5,702,320		12/22/14		(318,427	)
	284	E-mini S&P 500 Index		28,187,928		27,910,100		12/22/14		(277,828	)
	85	Euro Currency		13,708,570		13,424,687		12/16/14		(283,883	)
	333	Euro STOXX 50 Index		13,490,833		13,556,334		12/22/14		65,501
	76	FTSE 100 Index		8,329,144		8,138,214		12/22/14		(190,930	)
	85	Japanese Yen Currency		9,937,780		9,690,000		12/16/14		(247,780	)
	63	Nikkei 225 Index (OSE)		8,957,861		9,295,035		12/12/14		337,174


			$	103,978,729					$	(1,348,179	)


	Level 1
Investment Companies	$	718,033,383

Futures Contracts	$	(1,348,179	)


TOTAL VALUE OF SECURITIES–98.71% (Cost $1,210,874,710)	$	1,197,245,408
«RECEIVABLES AND OTHER ASSETS NET OF LIABILITIES–1.29%		15,655,468

NET ASSETS APPLICABLE TO 115,926,402 SHARES OUTSTANDING–100.00%	$	1,212,900,876


Counterparty	Contracts to Receive (Deliver)			In Exchange For				Settlement Date		Unrealized Appreciation (Depreciation)
BAML	EUR	(12,870,000	)		USD	16,617,680			10/6/14	$	360,919
BCLY	EUR	22,316,000			USD	(28,936,657	)		10/6/14		(748,167	)
BCLY	EUR	(17,995,000	)		USD	23,275,300			12/15/14		533,285
BCLY	GBP	(4,041,000	)		USD	6,701,736			10/6/14		151,228
BCLY	GBP	(4,096,000	)		USD	6,625,186			11/6/14		(12,630	)
BCLY	JPY	60,933,000			USD	(555,249	)		10/6/14		404
BCLY	JPY	(108,143,000	)		USD	985,661			11/6/14		(723	)
BCLY	NZD	(15,161,000	)		USD	13,223,712			10/21/14		1,414,697
BNP	EUR	104,788,000			USD	(131,952,508	)		10/6/14		410,618
BNP	EUR	(155,836,000	)		USD	196,273,260			11/6/14		(613,426	)
BNP	GBP	4,036,000			USD	(6,609,378	)		10/6/14		(66,975	)
CITI	EUR	4,750,000			USD	(6,056,003	)		12/15/14		(52,970	)
CITI	JPY	(47,210,000	)		USD	454,233			10/6/14		23,721
GSC	EUR	(114,234,000	)		USD	146,605,631			10/6/14		2,310,776
UBS	CAD	360,000			USD	(334,206	)		10/21/14		(12,909	)
UBS	JPY	(13,723,000	)		USD	129,004			10/6/14		3,862

										$	3,701,710


Notional Value	Expiration Date		Description	Unrealized Appreciation (Depreciation)
$462,839,389		10/24/14	Agreement with Barclays to receive the notional amount based on the index of a custom basket of securities and to pay the notional amount multiplied by the fixed rate of 0.554%.	$	1,350,318	*



TOTAL VALUE OF SECURITIES–100.18% (Cost $5,532,383)		5,440,082
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.18%)		(9,660	)

NET ASSETS APPLICABLE TO 545,006 SHARES OUTSTANDING–100.00%	$	5,430,422


	Level 1
Common Stock	$	448,262,072
Money Market Fund		597,055

Total	$	448,859,127


TOTAL VALUE OF SECURITIES–99.72% (Cost $448,852,546)		528,709,859
RECEIVABLES AND OTHER ASSETS NET OF LIABILITIES–0.28%		1,495,765

NET ASSETS APPLICABLE TO 57,688,955 SHARES OUTSTANDING–100.00%	$	530,205,624


	Number of Shares		Value (U.S. $)
INVESTMENT COMPANIES–100.14%
Equity Fund–92.95%
*ClearBridge Variable Appreciation Portfolio		987,763	$	34,828,532


				34,828,532


TOTAL VALUE OF SECURITIES–100.14% (Cost $36,670,330)		37,524,308
« LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.14%)		(54,043	)


NET ASSETS APPLICABLE TO 3,608,156 SHARES OUTSTANDING–100.00%.	$	37,470,265


	Level 1
Investment Companies	$	37,524,308


Futures Contracts	$	(993	)