SEI Institutional Investment Trust

(a) The Schedules of Investments in securities of unaffiliated issuers as of the close of the reporting period are included as part of the report to shareholders filed under Item 1 of this form.

(b) In accordance with Section 13(c) of the Investment Company Act of 1940 the Screened World Equity Ex-US Fund divested itself of the following security during the period ended August 31, 2010:


Description	Shares		Market Value ( $Thousands)

COMMON STOCK — 96.3%

Consumer Discretionary — 10.4%
99 Cents Only Stores *		10,300	$	180
Aeropostale *		6,450		138
Amazon.com *		96,776		12,081
American Greetings, Cl A (A)		1,500		29
Apollo Group, Cl A *		5,000		212
Autoliv (A)		22,000		1,191
AutoZone *		5,900		1,238
Best Buy (A)		70,100		2,201
Big 5 Sporting Goods		3,230		38
Big Lots *(A)		17,400		544
BorgWarner *(A)		54,080		2,361
Brinker International		54,700		861
Career Education *(A)		2,200		39
Carnival		5,200		162
CBS, Cl B (A)		66,700		922
CEC Entertainment *		1,930		61
Chico’s FAS (A)		83,900		692
Coach		130,573		4,680
Comcast, Cl A		317,100		5,429
Cooper Tire & Rubber (A)		41,970		680
Darden Restaurants		19,000		784
Deckers Outdoor *(A)		5,200		226
DeVry		4,600		175
Dillard’s, Cl A (A)		4,400		96
DIRECTV, Cl A *		166,109		6,299
DISH Network, Cl A		54,100		971
Dollar Tree *(A)		20,350		923
Eastman Kodak *(A)		475,300		1,659
Education Management *(A)		12,500		101
Finish Line, Cl A		7,900		104
Ford Motor *(A)		140,270		1,583
Fossil *		8,000		380
Gannett (A)		77,200		933
Gap		84,400		1,426
Gentex		11,800		207
Genuine Parts		2,400		100
H&R Block		13,500		173
Hasbro		10,700		432
Helen of Troy *		11,000		245
Home Depot		23,600		656
ITT Educational Services *(A)		9,300		495
J.C. Penney (A)		72,100		1,442
Johnson Controls		56,000		1,486
Jones Apparel Group		9,920		153
Kirkland’s *		2,600		30
Kohl’s *		2,500		117
Leggett & Platt		14,500		278
Liberty Global, Cl A *(A)		23,200		638
Liberty Media-Interactive, Cl A *		16,400		173
Liberty Media-Starz, Ser A *		9,500		568
Lincoln Educational Services *		5,370		59
LKQ *		25,200		469
Lowe’s		147,800		3,000
Macy’s		122,900		2,389
Magna International, Cl A		1,800		140
Mattel (A)		22,000		461
McDonald’s		88,157		6,441
NetFlix *(A)		34,151		4,287
News, Cl A		136,100		1,711
NIKE, Cl B (A)		104,850		7,339


Description	Shares		Market Value ($ Thousands)

Nordstrom		10,050	$	291
Oxford Industries		4,800		95
PetSmart		20,600		657
priceline.com *(A)		34,625		10,092
RadioShack (A)		27,400		506
Ross Stores (A)		22,000		1,092
Skechers U.S.A., Cl A *		6,100		155
Staples		194,500		3,456
Starbucks		142,841		3,284
Target		104,300		5,336
Tempur-Pedic International *(A)		18,400		493
Thor Industries (A)		14,900		348
Timberland, Cl A *		3,600		58
Time Warner		336,440		10,086
Time Warner Cable, Cl A (A)		77,057		3,977
TJX		28,800		1,143
TRW Automotive Holdings *(A)		36,200		1,258
Universal Technical Institute		3,400		53
VF (A)		48,001		3,390
Viacom, Cl B		17,300		544
Walt Disney (A)		84,200		2,744
Warnaco Group *		3,900		163
Washington Post, Cl B		200		72
Whirlpool (A)		23,700		1,757
Winnebago Industries *(A)		7,100		61
Wolverine World Wide		2,700		68
Yum! Brands		47,200		1,968
				136,035


Consumer Staples — 9.5%
Altria Group		44,500		993
Andersons		800		29
Archer-Daniels-Midland		107,800		3,318
BJ’s Wholesale Club *(A)		26,400		1,108
Brown-Forman, Cl B (A)		25,600		1,569
Bunge (A)		6,000		318
Campbell Soup (A)		18,500		689
Coca-Cola		208,219		11,644
Colgate-Palmolive (A)		68,089		5,028
ConAgra Foods		50,200		1,084
Corn Products International		32,400		1,106
Costco Wholesale (A)		22,550		1,275
CVS Caremark		159,500		4,306
Dean Foods *		19,100		195
Del Monte Foods		60,500		789
Diageo ADR		71,700		4,696
Dr. Pepper Snapple Group (A)		4,000		147
Herbalife		3,000		167
Kellogg (A)		135,200		6,717
Kimberly-Clark		109,358		7,043
Kroger		168,400		3,322
Lorillard		11,400		867
Mead Johnson Nutrition, Cl A		70,562		3,682
Nu Skin Enterprises, Cl A		2,700		69
PepsiCo		151,246		9,707
Philip Morris International		43,194		2,222
Prestige Brands Holdings *		19,830		147
Procter & Gamble		450,614		26,888
Ralcorp Holdings *		11,400		680
Reynolds American		56,984		3,108
Safeway		145,700		2,739
Sanderson Farms (A)		5,600		241
Smart Balance *		4,600		17


Description	Shares		Market Value ($ Thousands)

Smithfield Foods *(A)		8,500	$	137
Supervalu (A)		97,100		944
Sysco		5,300		146
Tyson Foods, Cl A (A)		132,900		2,177
USANA Health Sciences *		1,600		68
Walgreen (A)		312,694		8,405
Wal-Mart Stores		148,104		7,426
				125,213


Energy — 8.3%
Apache		43,420		3,901
Atwood Oceanics *		2,530		63
Cameron International *		72,115		2,652
Canadian Natural Resources		103,232		3,313
Chesapeake Energy		107,300		2,219
Chevron		248,896		18,458
Cimarex Energy		3,800		248
Complete Production Services *		4,100		72
ConocoPhillips		190,571		9,992
Continental Resources *(A)		3,200		130
Denbury Resources *		76,916		1,134
Devon Energy		45,100		2,719
Diamond Offshore Drilling (A)		5,700		332
Dresser-Rand Group *		8,600		306
El Paso		37,000		421
EOG Resources (A)		58,600		5,090
Exxon Mobil		178,301		10,548
Halliburton		163,000		4,598
Helmerich & Payne		2,700		100
Hess		71,400		3,588
Marathon Oil		152,500		4,650
Murphy Oil		66,900		3,583
National Oilwell Varco		72,400		2,722
Nexen		79,100		1,464
Noble		16,300		507
Occidental Petroleum		28,200		2,061
Oil States International *		20,700		853
Overseas Shipholding Group (A)		6,300		203
Patterson-UTI Energy		98,400		1,452
Range Resources (A)		52,147		1,763
RPC		2,400		39
Schlumberger (A)		41,899		2,235
Southern Union		31,200		702
Southwestern Energy *		59,834		1,958
Stone Energy *(A)		30,500		345
Sunoco (A)		43,500		1,465
Tidewater (A)		9,100		365
Transocean *		131,300		6,683
Unit *(A)		22,000		750
Valero Energy (A)		223,000		3,517
Williams		55,100		999
				108,200


Financials — 15.8%
ACE		12,900		690
Aflac (A)		90,980		4,299
Agree Realty ‡		2,300		55
Allstate		98,400		2,716
American Equity Investment Life Holding		18,410		175
American Express		228,500		9,110
American Financial Group		16,700		480
Ameriprise Financial		61,160		2,665


Description	Shares		Market Value ($ Thousands)

Annaly Capital Management ‡(A)		44,900	$	780
Apartment Investment & Management, Cl A ‡(A)		40,300		824
Assurant (A)		47,300		1,729
Axis Capital Holdings (A)		22,900		707
Bank of America		1,310,202		16,312
Bank of Hawaii (A)		22,600		1,009
Bank of New York Mellon (A)		155,900		3,784
Berkshire Hathaway, Cl B *(A)		129,100		10,170
BOK Financial (A)		12,300		547
Brandywine Realty Trust ‡		128,200		1,409
Brookfield Asset Management, Cl A (A)		32,100		823
Capital One Financial (A)		192,600		7,292
Cardinal Financial		4,700		43
Chimera Investment ‡(A)		222,400		874
Chubb		85,800		4,729
Cincinnati Financial (A)		10,500		280
Citigroup *(A)		3,141,600		11,687
CME Group, Cl A		17,900		4,441
CNA Financial *		30,300		788
Comerica (A)		9,700		334
CommonWealth REIT ‡		20,450		493
Compass Diversified Holdings		3,400		48
Cowen Group, Cl A *		5,300		18
Credicorp		2,700		284
Duke Realty ‡		11,300		127
ETrade Financial		67,300		835
Endurance Specialty Holdings (A)		23,200		855
Equity Residential ‡(A)		21,900		1,004
Everest Re Group		22,200		1,757
Fifth Third Bancorp		78,200		864
First Citizens BancShares, Cl A		600		101
First Community Bancshares (A)		6,300		81
Flagstone Reinsurance Holdings		8,800		89
Franklin Resources		17,400		1,679
Fulton Financial		27,600		229
GFI Group		1,220		6
Goldman Sachs Group		90,059		12,333
Hartford Financial Services Group		37,080		748
Hersha Hospitality Trust ‡		11,800		56
Hospitality Properties Trust ‡		67,400		1,318
Hudson City Bancorp		80,100		923
Huntington Bancshares (A)		108,000		571
Inland Real Estate ‡		4,200		32
IntercontinentalExchange *(A)		42,600		4,071
Invesco Mortgage Capital ‡		16,900		354
Jones Lang LaSalle (A)		14,900		1,125
JPMorgan Chase		633,825		23,046
Keycorp (A)		13,300		98
Lakeland Bancorp		5,100		40
Lexington Realty Trust ‡ (A)		10,800		72
Lincoln National		59,700		1,395
Loews		29,800		1,047
Maiden Holdings		5,100		37
MetLife		82,000		3,083
MFA Mortgage Investments ‡(A)		78,200		576
Montpelier Re Holdings		43,600		691
Moody’s (A)		27,500		581
Morgan Stanley		123,217		3,042
Nelnet, Cl A		11,400		250
NewStar Financial *		4,800		32
NYSE Euronext		140,700		3,903


Description	Shares		Market Value ($ Thousands)

OceanFirst Financial		2,700	$	31
Parkway Properties ‡		10,400		152
PartnerRe		11,000		819
Phoenix *(A)		14,700		26
Platinum Underwriters Holdings		13,200		531
PNC Financial Services Group		70,300		3,583
Presidential Life		6,700		58
Principal Financial Group		6,600		152
Progressive		8,500		168
Prosperity Bancshares		4,830		138
Prudential Financial		58,200		2,943
Public Storage ‡		16,900		1,656
Redwood Trust ‡		3,600		50
Regions Financial (A)		75,455		485
RenaissanceRe Holdings (A)		28,200		1,601
Resource Capital ‡		66,200		392
SCBT Financial		1,000		29
SLM *(A)		130,300		1,440
State Street		47,000		1,649
Stewart Information Services (A)		9,000		94
Sunstone Hotel Investors ‡*		36,700		314
SunTrust Banks		23,300		524
T. Rowe Price Group (A)		16,100		705
Taubman Centers ‡(A)		29,100		1,207
Torchmark (A)		20,300		1,002
Travelers (A)		105,505		5,168
Trustco Bank (A)		8,700		46
Unitrin		5,200		124
Unum Group		86,100		1,726
US Bancorp		164,200		3,415
Validus Holdings		30,900		787
Vornado Realty Trust ‡		14,000		1,135
Wells Fargo		732,712		17,255
WR Berkley		5,700		150
XL Group, Cl A (A)		45,000		806
				207,007


Health Care — 14.1%
Abbott Laboratories		170,700		8,422
Aetna		207,300		5,539
Allergan		155,797		9,569
Allscripts-Misys Healthcare Solutions *(A)		30,100		503
AmerisourceBergen		28,800		786
Amgen *		267,366		13,646
Baxter International		23,200		987
Becton Dickinson		18,300		1,248
Biogen Idec *(A)		50,700		2,728
Bristol-Myers Squibb		256,900		6,700
Bruker *(A)		25,000		297
C.R. Bard		2,100		161
Cardinal Health		49,000		1,468
CareFusion *		2,200		47
Celgene *		80,006		4,122
CIGNA		27,400		883
Coventry Health Care *		24,300		470
Covidien		62,708		2,216
Eli Lilly (A)		102,500		3,440
Endo Pharmaceuticals Holdings *		14,300		389
Express Scripts *		53,731		2,289
Forest Laboratories *		60,100		1,640
Genzyme *(A)		88,050		6,173
Gilead Sciences *		137,650		4,386


Description	Shares		Market Value ($ Thousands)

Health Net *		41,900	$	1,000
Humana *		42,210		2,017
Idexx Laboratories *(A)		3,900		216
Impax Laboratories *		19,200		301
Intuitive Surgical *(A)		5,900		1,564
Invacare (A)		9,700		222
Johnson & Johnson		326,416		18,612
Kinetic Concepts *		13,100		418
King Pharmaceuticals *		34,000		296
Laboratory Corp of America Holdings *		39,289		2,853
Life Technologies *		14,500		620
McKesson		13,400		778
Medco Health Solutions *		133,800		5,818
Medtronic		264,300		8,320
Merck		289,090		10,164
Mettler Toledo International *		500		55
Novo Nordisk ADR		59,700		5,112
Par Pharmaceutical *		3,600		95
Perrigo		15,700		895
Pfizer		921,657		14,682
Sirona Dental Systems *		6,900		218
St. Jude Medical *		113,991		3,941
Stryker		3,700		160
SXC Health Solutions *		4,600		358
Teleflex (A)		3,400		163
Teva Pharmaceutical Industries ADR		42,851		2,167
Thermo Fisher Scientific *		52,960		2,231
UnitedHealth Group		537,956		17,064
Universal Health Services, Cl B		600		19
Waters *		7,150		433
Watson Pharmaceuticals *		14,300		616
WellPoint *		77,400		3,845
Zimmer Holdings *		22,600		1,066
				184,428


Industrials — 8.9%
3M		161,708		12,702
Alliant Techsystems *(A)		2,500		165
Ametek		2,700		116
Boeing		89,267		5,457
Caterpillar		50,400		3,284
Cooper Industries, Cl A		5,270		222
Crane		15,400		522
CSX		37,900		1,891
Cummins		50,826		3,782
Danaher		67,625		2,457
Deere		12,300		778
Delta Air Lines *(A)		6,400		67
Dover		12,400		555
Dun & Bradstreet (A)		13,600		896
Eaton (A)		20,200		1,403
Emerson Electric		78,427		3,659
EnerSys *		1,000		22
Ennis		6,300		97
Expeditors International Washington (A)		113,300		4,485
FedEx		21,100		1,647
Gardner Denver		18,700		893
General Dynamics		53,000		2,961
General Electric		950,353		13,761
Goodrich		40,300		2,760


Description	Shares		Market Value ($ Thousands)

Graco (A)		38,600	$	1,077
Honeywell International		11,900		465
Hubbell, Cl B		2,600		117
IDEX (A)		13,900		414
Illinois Tool Works		21,300		879
Interline Brands *		1,300		21
ITT		32,900		1,398
Joy Global		7,840		445
Kansas City Southern *		9,600		322
KBR		76,400		1,773
Kennametal		9,000		227
L-3 Communications Holdings, Cl 3		51,200		3,410
Lockheed Martin		30,547		2,123
NACCO Industries, Cl A		1,700		132
Norfolk Southern		25,400		1,363
Northrop Grumman		100,959		5,464
Oshkosh Truck *		26,200		652
Owens Corning *		11,600		316
Parker Hannifin		25,100		1,485
Polypore International *		3,700		100
Precision Castparts		28,244		3,197
Quanta Services *(A)		127,500		2,287
Raytheon		78,700		3,456
Regal-Beloit		1,500		83
Republic Services, Cl A		8,800		259
Rockwell Automation		17,600		900
Rockwell Collins		77,786		4,195
RR Donnelley & Sons		83,300		1,262
Thomas & Betts *		1,200		44
Timken		29,800		975
Toro (A)		10,500		524
Tyco International (A)		46,600		1,738
UAL *(A)		41,000		869
Union Pacific		21,400		1,561
United Parcel Service, Cl B		14,100		900
United Technologies		102,149		6,661
WABCO Holdings *		9,600		338
WW Grainger (A)		11,800		1,248

				117,262


Information Technology — 19.7%
Activision Blizzard		71,400		763
Adobe Systems *		191,966		5,329
Agilent Technologies *		17,400		469
Amdocs *		33,800		887
AOL *		11,200		249
Apple *		123,343		30,018
Applied Materials		24,000		249
Arris Group *		4,750		39
Autodesk *		103,900		2,883
Avnet *		31,300		717
AVX		3,900		48
Brightpoint *		11,900		71
Broadcom, Cl A (A)		29,700		890
CA		16,700		301
Check Point Software Technologies *(A)		73,096		2,550
Cisco Systems *		899,786		18,041
Citrix Systems *		123,486		7,155
Computer Sciences		27,100		1,079
Corning		372,529		5,841
Dolby Laboratories, Cl A *		5,700		316


Description	Shares		Market Value ($ Thousands)

eBay *		149,300	$	3,470
EMC *		695,214		12,681
F5 Networks *		26,400		2,308
Fairchild Semiconductor International, Cl A *		30,900		239
Flextronics International *		110,600		545
Google, Cl A *		20,408		9,184
Harris		40,500		1,704
Hewlett-Packard		219,774		8,457
IAC *(A)		37,400		927
Ingram Micro, Cl A *		46,400		699
Intel		508,148		9,004
International Business Machines		65,132		8,026
Intuit *		172,800		7,396
Itron *		3,100		167
Jabil Circuit		23,900		245
Juniper Networks *(A)		34,700		944
Kla-Tencor		1,600		45
Lam Research *		8,800		318
Lender Processing Services		3,300		97
Linear Technology		1,800		52
LSI *		18,900		76
Marvell Technology Group *		73,100		1,165
Mastercard, Cl A (A)		23,300		4,622
McAfee *		12,600		593
Micron Technology *(A)		93,000		601
Microsoft		941,635		22,110
Motorola *		119,900		903
National Semiconductor		14,200		179
NetApp *		6,310		255
NeuStar, Cl A *		6,600		146
Nortel Networks *		5		—
Novellus Systems *		8,100		189
Nuance Communications *(A)		189,600		2,783
Oracle		290,418		6,354
Paychex		121,231		3,017
Plantronics		4,450		121
PM C— Sierra *		38,000		263
Polycom *		39,200		1,116
Qualcomm		397,700		15,236
Rackspace Hosting *(A)		149,100		2,936
Red Hat *(A)		87,900		3,037
Rovi *		8		—
SAIC *(A)		50,000		744
Salesforce.com *(A)		30,388		3,339
SanDisk *(A)		22,800		758
Seagate Technology *		119,000		1,205
Symantec *		250,400		3,413
Tech Data *		17,900		648
Teradata *		121,600		3,981
Texas Instruments (A)		446,532		10,284
Tyco Electronics		28,700		704
VeriSign *(A)		182,600		5,319
Visa, Cl A		162,714		11,224
Vishay Intertechnology *		64,700		498
Vishay Precision Group *		2,907		42
Western Digital *		56,500		1,365
Western Union		39,710		623
Xerox		224,300		1,893
Yahoo! *		134,300		1,756
Zebra Technologies, Cl A *(A)		17,900		512

				258,413


Description	Shares		Market Value ($ Thousands)

Materials — 2.7%
A. Schulman		2,700	$	49
Air Products & Chemicals		2,600		192
Alcoa (A)		108,700		1,110
Allegheny Technologies (A)		83,232		3,389
Ashland		45,900		2,132
Ball		10,300		578
Boise *(A)		27,200		187
Cabot		6,100		173
Celanese, Cl A		31,300		836
Cytec Industries		32,600		1,546
Dow Chemical		13,600		331
E.I. Du Pont de Nemours		52,400		2,136
Eastman Chemical		24,300		1,496
Freeport-McMoRan Copper & Gold, Cl B		15,380		1,107
H.B. Fuller		2,400		46
International Paper		52,100		1,066
Lubrizol		22,300		2,081
Monsanto		83,225		4,382
Nalco Holding		144,800		3,290
Nucor (A)		16,400		603
Omnova Solutions *		7,800		48
Owens-Illinois *		16,800		421
Reliance Steel & Aluminum		6,900		257
Rock-Tenn, Cl A		18,810		906
Schnitzer Steel Industries, Cl A		11,800		522
Sealed Air		48,000		984
Solutia *		16,000		217
Sonoco Products		24,500		771
Southern Copper		23,000		696
Spartech *		5,940		53
Steel Dynamics		9,080		124
Syngenta ADR		76,200		3,508
Temple-Inland		1,600		26
				35,263

Telecommunication Services — 3.5%
American Tower, Cl A *		122,846		5,756
AT&T		688,546		18,612
CenturyLink		19,800		716
Crown Castle International *		150,200		6,176
Frontier Communications (A)		31,037		240
NII Holdings *(A)		18,600		674
Sprint Nextel *		502,900		2,052
Telephone & Data Systems		27,400		792
Verizon Communications		381,172		11,248
				46,266

Utilities — 3.4%
AES *		699,387		7,162
AGL Resources		12,400		455
Alliant Energy		17,200		602
Ameren		28,100		789
American Electric Power		102,700		3,637
American Water Works		18,400		415
Atmos Energy (A)		11,200		317
CMS Energy (A)		25,200		441
Dominion Resources (A)		53,400		2,284
DPL		45,600		1,155
DTE Energy		14,900		698


Description	Shares		Market Value ($ Thousands)

Duke Energy (A)		72,900	$	1,253
Edison International		124,200		4,192
Energen		24,200		1,033
Entergy		32,400		2,554
Exelon		131,500		5,355
FirstEnergy (A)		23,400		855
Mirant *		72,100		699
NextEra Energy		4,400		236
NiSource		62,000		1,075
NorthWestern		12,990		365
NRG Energy *(A)		40,100		815
NV Energy		22,700		290
OGE Energy		39,000		1,523
Pepco Holdings		13,800		248
PG&E		15,900		744
Pinnacle West Capital		10,000		398
Portland General Electric		6,700		134
Public Service Enterprise Group		102,000		3,260
Sempra Energy		13,300		677
TECO Energy		36,500		616
				44,277
Total Common Stock (Cost $1,245,050) ($ Thousands)				1,262,364


U.S. TREASURY OBLIGATION (B)(C) — 0.9%
U.S. Treasury Bill
0.035%, 12/16/610	$	10,912		10,908

Total U.S. Treasury Obligation (Cost $10,907) ($ Thousands)				10,908


CASH EQUIVALENT — 2.6%
SEI Daily Income Trust, Prime
Obligation Fund, Cl A,
0.200%**†		34,613,189		34,613

Total Cash Equivalent (Cost $34,613) ($ Thousands)				34,613


AFFILIATED PARTNERSHIP — 11.6%
SEI Liquidity Fund, L.P.,
0.250%**†(D)		153,105,829		152,259

Total Affiliated Partnership (Cost $153,106) ($ Thousands)				152,259

Total Investments — 111.4% (Cost $1,443,676)($ Thousands) ††			$	1,460,144

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)		Expiration Date		Unrealized Appreciation ($ Thousands)
S&P 500 Composite Index		115		Sep-2010	$	635
S&P Mid 400 Index E-MINI		69		Sep-2010		71

					$	706

For the period ended August 31, 2010, the total amount of all open futures contracts, as presented in the table above, are representative of the volume of activity for this derivative type during the period.

Percentages are based on a Net Assets of $1,310,996($ Thousands).

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $1,443,676 ($ Thousands), and the unrealized appreciation and depreciation were $110,822 ($ Thousands) and $(94,354)($ Thousands), respectively.

(A)

This security or a partial position of this security is on loan at August 31, 2010. The total value of securities on loan at August 31, 2010 was $149,624 ($ Thousands).

(B)

Zero coupon security. The rate reported is the effective yield at time of purchase.

(C)

Security, or a portion thereof, has been pledged as collateral on open futures contracts.

(D)

This security was purchased with cash collateral held from securities on loan. The total value of such securities as of August 31, 2010 was $152,259 ($ Thousands).

ADR — American Depositary Receipt

Cl — Class

L.P. — Limited Partnership

REIT — Real Estate Investment Trust

S&P — Standard & Poor’s

Ser — Series

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	1,262,364	$	—	$	—	$	1,262,364
U.S. Treasury Obligation		—		10,908		—		10,908
Cash Equivalent		34,613		—		—		34,613
Affiliated Partnership		—		152,259		—		152,259

Total Investments in Securities	$	1,296,977	$	163,167	$	—	$	1,460,144


Other Financial Instruments	Level 1		Level 2		Level 3		Total
Futures Contracts *	$	706	$	—	$	—	$	706

Total Other Financial Instruments	$	706	$	—	$	—	$	706

Futures contracts are valued at the unrealized appreciation on the instrument.

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

Amounts designated as “—” are $0 or have been rounded to $0.

For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.


Description	Shares		Market Value ($ Thousands)

COMMON STOCK — 96.7%

Consumer Discretionary — 11.5%
99 Cents Only Stores *		2,300	$	40
Aaron’s		1,800		29
Aeropostale *		19,000		405
Amazon.com *		17,375		2,169
Apollo Group, Cl A *		13,600		578
Autoliv		3,000		163
AutoZone *		3,300		692
Best Buy		30,708		964
Big 5 Sporting Goods		800		9
Big Lots *		300		9
Brinker International		1,900		30
Cablevision Systems, Cl A		4,000		100
Career Education *		11,700		205
Carmax *		3,800		76
Carnival		800		25
CEC Entertainment *		600		19
Chico’s FAS		17,300		143
Chipotle Mexican Grill, Cl A *		200		30
Coach		26,500		950
Comcast, Cl A		62,849		1,076
Cooper Tire & Rubber		1,300		21
Darden Restaurants		1,800		74
Deckers Outdoor *		9,800		426
DeVry		2,200		84
Dick’s Sporting Goods *		400		10
Dillard’s, Cl A		800		18
DIRECTV, Cl A *		46,000		1,744
Discovery Communications, Cl A *		700		27
DISH Network, Cl A		6,400		115
Dollar Tree *		11,300		512
DreamWorks Animation SKG, Cl A *		800		24
Eastman Kodak *		145,800		509
Education Management *		1,900		15
Family Dollar Stores		1,600		68
Finish Line, Cl A		1,900		25
Foot Locker		4,700		55
Ford Motor *		193,441		2,184
Fortune Brands		300		13
Fossil *		11,500		546
Gannett		6,300		76
Gap		25,400		429
Garmin		3,300		88
Genesco *		300		8
Gentex		3,400		60
Genuine Parts		400		17
H&R Block		2,000		26
Harman International Industries *		700		22
Hasbro		1,800		73
Helen of Troy *		2,700		60
Hillenbrand		600		11
Home Depot		9,500		264
ITT Educational Services *		8,200		437
J.C. Penney		20,775		416
John Wiley & Sons, Cl A		1,100		39
Johnson Controls		12,000		318
Jones Apparel Group		1,400		22
Kirkland’s *		700		8
Kohl’s *		400		19
Lamar Advertising, Cl A *		100		3


Description	Shares		Market Value ($ Thousands)

Las Vegas Sands *		400	$	11
Lear *		200		15
Leggett & Platt		4,500		86
Liberty Global, Cl A *		600		17
Liberty Media - Capital, Ser A *		2,400		108
Liberty Media - Interactive, Cl A *		12,100		128
Liberty Media - Starz, Ser A *		3,910		234
Limited Brands		8,700		205
Lincoln Educational Services *		1,400		15
LKQ *		4,400		82
Lowe’s		41,200		836
Macy’s		7,700		150
Madison Square Garden, Cl A *		425		8
Mattel		6,600		138
McDonald’s		3,900		285
McGraw-Hill		2,000		55
MGM Mirage *		700		6
Mohawk Industries *		200		9
NetFlix *		11,682		1,466
Newell Rubbermaid		2,000		30
News, Cl A		19,200		241
NIKE, Cl B		28,550		1,998
Nordstrom		2,400		69
O’Reilly Automotive *		800		38
Oxford Industries		1,700		34
Panera Bread, Cl A *		600		48
PetSmart		31,995		1,020
Phillips-Van Heusen		200		9
Polo Ralph Lauren, Cl A		1,200		91
priceline.com *		6,600		1,924
Regal Entertainment Group, Cl A		1,800		22
Ross Stores		1,900		94
Royal Caribbean Cruises *		900		22
Scripps Networks Interactive, Cl A		2,100		84
Sears Holdings *		1,300		80
Service International		7,800		60
Skechers U.S.A., Cl A *		1,200		31
Stanley Black & Decker		1,682		90
Staples		52,400		931
Starbucks		6,300		145
Starwood Hotels & Resorts Worldwide		2,000		94
Strayer Education		100		15
Target		12,000		614
Tempur-Pedic International *		6,100		164
Thomson Reuters		1,600		56
Thor Industries		3,100		72
Tiffany		1,300		52
Tim Hortons		18,300		648
Timberland, Cl A *		900		14
Time Warner		116,819		3,502
Time Warner Cable, Cl A		18,877		974
TJX		2,700		107
Tractor Supply		200		14
TRW Automotive Holdings *		8,700		302
Tupperware Brands		300		12
Urban Outfitters *		3,300		100
VF		3,900		275
Viacom, Cl B		37,638		1,183
Virgin Media		2,600		54
Walt Disney		9,962		325
Warnaco Group *		700		29


Description	Shares		Market Value ($ Thousands)

Whirlpool		1,700	$	126
Williams-Sonoma		2,600		68
Winnebago Industries *		1,500		13
Wolverine World Wide		600		15
Wyndham Worldwide		600		14
Wynn Resorts		600		48
Yum! Brands		15,350		640

				37,023


Consumer Staples — 9.2%
Altria Group		14,500		324
Andersons		300		11
Archer-Daniels-Midland		4,000		123
Avon Products		200		6
Brown-Forman, Cl B		1,300		80
Campbell Soup		1,700		63
Church & Dwight		900		55
Clorox		200		13
Coca-Cola		35,000		1,957
Coca-Cola Enterprises		1,100		31
Colgate-Palmolive		3,600		266
ConAgra Foods		7,500		162
Constellation Brands, Cl A *		2,800		47
Corn Products International		11,400		389
Costco Wholesale		6,400		362
CVS Caremark		16,504		446
Dean Foods *		3,900		40
Del Monte Foods		7,100		93
Diageo ADR		18,900		1,238
Dr. Pepper Snapple Group		3,500		129
Estee Lauder, Cl A		3,500		196
Flowers Foods		900		23
General Mills		6,100		221
Green Mountain Coffee Roasters *		900		28
Hansen Natural *		1,900		85
Herbalife		12,700		706
Hershey		35,319		1,641
HJ Heinz		3,000		139
Hormel Foods		600		26
JM Smucker		2,500		146
Kellogg		37,500		1,863
Kimberly-Clark		1,000		65
Kraft Foods, Cl A		3,660		110
Kroger		41,300		815
Lorillard		2,200		167
McCormick		1,000		40
Mead Johnson Nutrition, Cl A		5,200		271
NBTY *		758		41
Nu Skin Enterprises, Cl A		600		16
PepsiCo		44,015		2,825
Philip Morris International		39,568		2,035
Prestige Brands Holdings *		2,300		17
Procter & Gamble		80,900		4,827
Ralcorp Holdings *		900		54
Reynolds American		6,500		355
Safeway		18,800		353
Sanderson Farms		700		30
Sara Lee		34,420		497
Smart Balance *		1,800		6
Smithfield Foods *		4,600		74
Supervalu		57,057		555
Sysco		13,000		357
Tyson Foods, Cl A		122,917		2,013


Description	Shares		Market Value ($ Thousands)

USANA Health Sciences *		500	$	21
Walgreen		36,800		989
Wal-Mart Stores		41,900		2,101
Whole Foods Market *		1,300		45

				29,588


Energy — 8.0%
Alpha Natural Resources *		533		20
Anadarko Petroleum		1,600		74
Apache		2,700		243
Baker Hughes		1,361		51
Cameron International *		200		7
Chesapeake Energy		7,200		149
Chevron		71,708		5,318
Cimarex Energy		2,300		150
Complete Production Services *		700		12
Concho Resources *		400		23
ConocoPhillips		77,476		4,062
Continental Resources *		500		20
Core Laboratories		800		63
Denbury Resources *		2,000		29
Devon Energy		5,700		344
Dresser-Rand Group *		2,000		71
EOG Resources		15,900		1,381
Exterran Holdings *		600		13
Exxon Mobil		93,800		5,549
FMC Technologies *		200		12
Forest Oil *		800		21
Frontline		400		11
Halliburton		40,500		1,143
Helmerich & Payne		700		26
Hess		12,200		613
Marathon Oil		45,614		1,391
Mariner Energy *		1,082		25
Massey Energy		1,400		40
Murphy Oil		10,300		552
National Oilwell Varco		1,900		72
Occidental Petroleum		2,100		153
Oil States International *		7,300		301
Peabody Energy		100		4
Pioneer Natural Resources		2,200		127
QEP Resources		200		6
RPC		400		7
Schlumberger		8,612		459
SM Energy		1,466		56
Southern Union		4,300		97
Southwestern Energy *		1,400		46
Spectra Energy		2,600		53
Stone Energy *		5,500		62
Sunoco		2,500		84
Transocean *		35,825		1,824
Ultra Petroleum *		600		23
Valero Energy		50,700		800
Weatherford International *		1,500		22
Whiting Petroleum *		800		68
Williams		7,000		127

				25,804


Financials — 14.1%
ACE		7,500		401
Aflac		35,150		1,661
Agree Realty ‡		700		17
Alexandria Real Estate Equities ‡		1,400		97


Description	Shares		Market Value ($ Thousands)

Alleghany *		100	$	30
Allstate		6,200		171
American Equity Investment Life Holding		3,500		33
American Express		66,925		2,668
American Financial Group		12,600		363
AmeriCredit *		2,392		58
Ameriprise Financial		20,700		902
Annaly Capital Management ‡		2,000		35
Apartment Investment & Management, Cl A ‡		4,100		84
Arch Capital Group *		9,000		718
Ares Capital		2,000		30
Associated Banc		5,400		65
Assurant		8,300		304
Assured Guaranty		800		12
AvalonBay Communities ‡		303		32
Axis Capital Holdings		7,900		244
Bancorp Rhode Island		200		6
Bank of America		131,475		1,637
Bank of Hawaii		500		22
Bank of New York Mellon		39,650		962
BB&T		4,700		104
Berkshire Hathaway, Cl B *		14,000		1,103
Boston Properties ‡		100		8
Brandywine Realty Trust ‡		12,500		137
BRE Properties ‡		1,200		49
Capital One Financial		53,595		2,029
CapitalSource		4,900		25
CB Richard Ellis Group, Cl A *		900		15
Chimera Investment ‡		292,180		1,148
Chubb		16,600		915
Cincinnati Financial		2,000		53
CIT Group *		1,000		37
Citigroup *		353,800		1,316
City National		1,200		58
CME Group, Cl A		4,000		992
CNA Surety *		400		7
Comerica		4,600		158
Commerce Bancshares		1,800		64
CommonWealth REIT ‡		4,425		107
Community Trust Bancorp		300		8
Compass Diversified Holdings		1,400		20
Credicorp		6,700		705
Cullen/Frost Bankers		1,000		51
Digital Realty Trust ‡		400		24
Discover Financial Services		200		3
Douglas Emmett ‡		3,400		55
ETrade Financial		14,400		179
East West Bancorp		18,476		270
Endurance Specialty Holdings		500		18
Equity Residential ‡		2,700		124
Erie Indemnity, Cl A		500		26
Essex Property Trust ‡		300		32
Everest Re Group		8,400		665
Federal Realty Investment Trust ‡		100		8
Fifth Third Bancorp		13,000		144
First Citizens BancShares, Cl A		1,342		225
First Commonwealth Financial		4,700		23
First Community Bancshares		700		9
Flagstone Reinsurance Holdings		1,600		16
Forest City Enterprises, Cl A *		900		10
Franklin Resources		8,700		840


Description	Shares		Market Value ($ Thousands)

Fulton Financial		13,500	$	112
General Growth Properties ‡		2,424		34
Genworth Financial, Cl A *		11,400		124
Global Indemnity, Cl A *		450		8
Goldman Sachs Group		18,765		2,570
Hanover Insurance Group		100		4
Hartford Financial Services Group		4,200		85
Hersha Hospitality Trust ‡		1,400		7
Hospitality Properties Trust ‡		8,700		170
Host Hotels & Resorts ‡		3,226		42
Huntington Bancshares		18,900		100
IntercontinentalExchange *		11,400		1,089
Invesco Mortgage Capital ‡		5,600		117
Jones Lang LaSalle		8,200		619
JPMorgan Chase		92,088		3,348
Keycorp		6,200		46
Kimco Realty ‡		800		12
Lexington Realty Trust ‡		1,400		9
Lincoln National		2,200		51
Loews		5,300		186
M&T Bank		4,223		362
Macerich ‡		1,113		46
Maiden Holdings		3,300		24
Markel *		100		33
Marshall & Ilsley		11,300		74
MBIA *		1,300		12
MetLife		6,400		241
MFA Mortgage Investments ‡		15,600		115
Montpelier Re Holdings		2,600		41
Morgan Stanley		9,300		229
Nationwide Health Properties ‡		100		4
Nelnet, Cl A		1,300		29
New York Community Bancorp		78,111		1,241
NewStar Financial *		800		5
NYSE Euronext		33,000		916
Old Republic International		1,100		14
Oppenheimer Holdings, Cl A		400		9
Parkway Properties ‡		1,700		25
Phoenix *		3,100		6
Plum Creek Timber ‡		1,900		65
PNC Financial Services Group		33,306		1,697
Presidential Life		1,700		15
Progressive		100		2
Prosperity Bancshares		1,000		29
Protective Life		1,200		22
Prudential Financial		13,248		670
Public Storage ‡		600		59
Raymond James Financial		15,500		358
Rayonier ‡		12,390		586
Realty Income ‡		2,200		72
Regions Financial		24,950		161
Reinsurance Group of America, Cl A		300		13
RenaissanceRe Holdings		10,884		618
Resource Capital ‡		15,800		93
SCBT Financial		600		17
Senior Housing Properties Trust ‡		200		5
Simon Property Group ‡		317		29
SL Green Realty ‡		1,000		60
SLM *		9,600		106
StanCorp Financial Group		2,000		71
State Street		2,800		98
Sunstone Hotel Investors ‡*		7,000		60


Description	Shares		Market Value ($ Thousands)

SunTrust Banks		2,800	$	63
T. Rowe Price Group		13,000		569
Taubman Centers ‡		100		4
TCF Financial		2,900		41
Torchmark		1,100		54
Travelers		17,100		838
UDR ‡		5,200		107
Unitrin		2,600		62
Unum Group		5,000		100
US Bancorp		18,500		385
Valley National Bancorp		5,500		72
Ventas ‡		700		35
Vornado Realty Trust ‡		100		8
Waddell & Reed Financial, Cl A		1,700		39
Washington Federal		4,300		62
Wells Fargo		143,037		3,369
WesBanco		1,000		15
White Mountains Insurance Group		100		30
WR Berkley		2,100		55
XL Group, Cl A		900		16
Zions Bancorporation		4,200		77

				45,398


Health Care — 13.9%
Abbott Laboratories		44,550		2,198
Aetna		56,700		1,515
Alcon		200		32
Alere *		100		3
Alexion Pharmaceuticals *		1,600		90
Allergan		30,000		1,843
Allscripts-Misys Healthcare Solutions *		6,600		110
AmerisourceBergen		41,223		1,124
Amgen *		72,401		3,695
Amylin Pharmaceuticals *		3,900		80
Baxter International		300		13
Becton Dickinson		4,300		293
Biogen Idec *		19,416		1,045
BioMarin Pharmaceutical *		3,000		61
Bio-Rad Laboratories, Cl A *		400		33
Bristol-Myers Squibb		14,900		389
Bruker *		4,500		53
C.R. Bard		5,500		423
Cardinal Health		79,060		2,369
CareFusion *		4,600		99
Celgene *		4,200		216
Cephalon *		2,500		142
Cerner *		800		58
CIGNA		3,900		126
Community Health Systems *		100		3
Cooper		100		4
Covance *		2,300		87
Coventry Health Care *		2,500		48
Covidien		11,000		389
DaVita *		1,500		97
Dendreon *		1,500		54
Edwards Lifesciences *		3,000		173
Eli Lilly		19,783		664
Emergency Medical Services, Cl A *		300		14
Express Scripts *		3,819		163
Gen-Probe *		1,100		49


Description	Shares		Market Value ($ Thousands)

Genzyme *		25,250	$	1,770
Gilead Sciences *		46,867		1,493
Health Net *		29,800		712
Henry Schein *		200		10
Hill-Rom Holdings		2,000		64
Hospira *		3,400		175
Human Genome Sciences *		400		12
Humana *		11,100		530
Idexx Laboratories *		400		22
Impax Laboratories *		2,700		42
Intuitive Surgical *		1,700		450
Invacare		1,600		37
Johnson & Johnson		90,238		5,145
Kinetic Concepts *		2,500		80
King Pharmaceuticals *		3,000		26
Life Technologies *		3,600		154
Lincare Holdings		4,850		112
McKesson		20,829		1,209
Medco Health Solutions *		47,600		2,070
Mednax *		600		28
Medtronic		72,500		2,282
Merck		38,563		1,356
Mettler Toledo International *		900		100
Mylan Laboratories *		10,300		177
Novo Nordisk ADR		16,100		1,378
Omnicare		500		10
Orthofix International *		200		5
Par Pharmaceutical *		700		18
Patterson		3,600		91
PerkinElmer		3,800		80
Perrigo		7,200		410
Pfizer		89,195		1,421
Pharmaceutical Product Development		500		11
Quest Diagnostics		400		17
Regeneron Pharmaceuticals *		1,100		24
ResMed *		4,000		121
Sirona Dental Systems *		1,600		50
St. Jude Medical *		3,300		114
Stryker		5,100		220
SXC Health Solutions *		1,100		86
Teleflex		2,200		106
Thermo Fisher Scientific *		7,400		312
Thoratec *		800		26
United Therapeutics *		1,700		79
UnitedHealth Group		94,600		3,001
Universal Health Services, Cl B		300		9
Valeant Pharmaceuticals International *		2,059		119
Varian Medical Systems *		2,700		144
Vertex Pharmaceuticals *		600		20
Warner Chilcott, Cl A *		600		17
Waters *		2,900		176
Watson Pharmaceuticals *		500		22
WellPoint *		12,500		621
Zimmer Holdings *		1,400		66

				44,585


Industrials — 8.0%
3M		28,400		2,231
Alliant Techsystems *		400		26
Ametek		700		30
Avery Dennison		1,100		36


Description	Shares		Market Value ($ Thousands)

BE Aerospace *		900	$	24
Boeing		3,100		190
Bucyrus International, Cl A		1,900		109
Carlisle		1,500		42
Caterpillar		1,800		117
Continental Airlines, Cl B *		9,047		202
Cooper Industries, Cl A		2,200		93
Copa Holdings, Cl A		600		29
Crane		3,500		119
CSX		9,900		494
Cummins		300		22
Deere		3,100		196
Delta Air Lines *		7,600		79
Dover		3,800		170
Eaton		5,200		361
Emerson Electric		5,100		238
Ennis		1,400		21
Equifax		1,600		47
Expeditors International Washington		30,400		1,204
Fastenal		1,000		45
FedEx		6,700		523
Flowserve		100		9
Gardner Denver		7,900		377
General Dynamics		12,396		693
General Electric		203,301		2,944
Goodrich		13,100		897
Honeywell International		2,000		78
Hubbell, Cl B		700		31
IDEX		2,800		84
Illinois Tool Works		5,000		206
Ingersoll-Rand		500		16
ITT		2,800		119
JB Hunt Transport Services		500		16
Joy Global		4,526		257
Kansas City Southern *		5,200		175
KBR		23,700		550
Kennametal		1,900		48
L-3 Communications Holdings, Cl 3		8,700		579
Lennox International		200		9
Lockheed Martin		25,303		1,759
Manitowoc		2,100		19
Masco		700		7
NACCO Industries, Cl A		400		31
Navistar International *		5,500		230
Norfolk Southern		5,500		295
Northrop Grumman		19,300		1,045
Oshkosh Truck *		20,200		503
Owens Corning *		13,200		359
Paccar		300		12
Parker Hannifin		4,600		272
Polypore International *		1,000		27
Precision Castparts		1,100		125
Quanta Services *		32,900		590
Raytheon		19,100		839
Regal-Beloit		500		28
Republic Services, Cl A		25,913		763
Rockwell Automation		6,100		312
Rockwell Collins		2,000		108
RR Donnelley & Sons		500		8
Ryder System		8,000		307
Snap-On		300		12


Description	Shares		Market Value ($ Thousands)

Southwest Airlines		17,800	$	197
Spirit Aerosystems Holdings, Cl A *		2,700		52
Thomas & Betts *		900		33
Timken		18,600		609
Toro		2,700		135
TransDigm Group		1,700		98
Tyco International		3,800		141
UAL *		3,666		78
Union Pacific		6,100		445
United Parcel Service, Cl B		7,809		498
United Technologies		17,100		1,115
Verisk Analytics, Cl A *		500		14
WABCO Holdings *		3,000		106
Waste Connections *		2,200		83
Waste Management		6,467		214
WESCO International *		4,697		152
WW Grainger		3,800		402

				25,759


Information Technology — 22.3%
Accenture, Cl A		2,200		81
Activision Blizzard		77,200		825
Adobe Systems *		31,800		883
Advanced Micro Devices *		127,771		718
Agilent Technologies *		12,500		337
Akamai Technologies *		2,100		97
Alliance Data Systems *		900		51
Altera		1,100		27
Amdocs *		10,400		273
Ansys *		1,100		43
AOL *		2,993		66
Apple *		29,213		7,110
Applied Materials		5,800		60
Arris Group *		900		7
Arrow Electronics *		20,300		464
Atheros Communications *		500		12
Atmel *		6,600		38
Autodesk *		26,600		738
Automatic Data Processing		400		15
Avago Technologies *		2,000		40
Avnet *		5,300		121
AVX		1,300		16
Brightpoint *		3,300		20
Broadcom, Cl A		6,400		192
CA		3,000		54
CGI Group, Cl A *		15,900		220
Cisco Systems *		167,000		3,348
Citrix Systems *		2,200		127
Cognizant Technology Solutions, Cl A *		15,706		905
Computer Sciences		9,824		391
CoreLogic		400		7
Corning		15,400		241
Cree *		3,900		209
Dell *		1,800		21
Dolby Laboratories, Cl A *		3,100		172
eBay *		46,600		1,083
EMC *		137,200		2,502
F5 Networks *		2,400		210
Factset Research Systems		500		37
Fairchild Semiconductor International, Cl A *		3,900		30


Description	Shares		Market Value ($ Thousands)

Fidelity National Information Services		659	$	17
Flextronics International *		67,700		334
FLIR Systems *		500		13
Gartner *		500		14
Google, Cl A *		4,895		2,203
Harris		17,700		745
Hewitt Associates, Cl A *		426		21
Hewlett-Packard		53,625		2,063
IAC *		25,200		625
Ingram Micro, Cl A *		27,500		414
Intel		174,096		3,085
International Business Machines		50,086		6,172
Intuit *		45,500		1,947
Itron *		700		38
Jabil Circuit		80,023		820
JDS Uniphase *		8,000		74
Juniper Networks *		7,200		196
Kla-Tencor		600		17
Lam Research *		14,300		516
Lender Processing Services		700		21
Lexmark International, Cl A *		2,600		91
Linear Technology		500		14
Marvell Technology Group *		21,400		341
Mastercard, Cl A		6,650		1,319
McAfee *		2,500		118
Microchip Technology		200		6
Micron Technology *		127,891		827
Microsoft		355,638		8,350
National Instruments		2,300		66
National Semiconductor		3,300		42
NCR *		1,200		15
NetApp *		5,600		226
Novellus Systems *		1,600		37
Nuance Communications *		49,200		722
Nvidia *		600		6
Oracle		25,600		560
Paychex		300		7
Plantronics		900		25
PMC—Sierra *		9,300		64
Polycom *		11,100		316
QLogic *		18,500		276
Qualcomm		107,225		4,108
Rackspace Hosting *		40,100		790
Red Hat *		23,200		802
Research In Motion *		13,000		557
Rovi *		300		13
Salesforce.com *		1,500		165
SanDisk *		4,900		163
Seagate Technology *		21,700		220
Skyworks Solutions *		700		13
Solera Holdings		300		12
Symantec *		80,800		1,101
Tellabs		2,300		16
Teradata *		33,500		1,097
Texas Instruments		118,000		2,718
Trimble Navigation *		200		6
Tyco Electronics		9,600		235
VeriSign *		49,700		1,448
Visa, Cl A		34,900		2,407
Vishay Intertechnology *		5,600		43
VMware, Cl A *		600		47
WebMD Health, Cl A *		1,888		96


Description	Shares		Market Value ($ Thousands)

Western Digital *		6,900	$	167
Western Union		8,300		130
Xerox		23,535		199
Yahoo! *		40,400		528
Zebra Technologies, Cl A *		800		23

				71,658


Materials — 3.4%
A. Schulman		800		15
Air Products & Chemicals		500		37
Airgas		440		29
Albemarle		300		12
Alcoa		21,800		222
Allegheny Technologies		2,700		110
Ashland		7,300		339
Boise *		3,800		26
Cabot		14,400		409
Carpenter Technology		1,800		56
Celanese, Cl A		6,500		174
Cliffs Natural Resources		3,300		202
Compass Minerals International		900		64
Cytec Industries		8,000		379
Domtar		300		18
Dow Chemical		3,400		83
E.I. Du Pont de Nemours		4,800		196
Eastman Chemical		10,500		646
Freeport-McMoRan Copper & Gold, Cl B		3,100		223
H.B. Fuller		600		11
Huntsman		85,352		778
International Flavors & Fragrances		1,100		50
International Paper		1,800		37
Lubrizol		12,218		1,140
MeadWestvaco		2,700		59
Monsanto		22,475		1,183
Nalco Holding		35,900		816
Newmont Mining		21,887		1,342
PPG Industries		2,300		151
Reliance Steel & Aluminum		1,600		60
Rock-Tenn, Cl A		1,400		68
RPM International		2,000		34
Schnitzer Steel Industries, Cl A		2,500		111
Scotts Miracle-Gro, Cl A		500		24
Sherwin-Williams		200		14
Solutia *		2,700		37
Southern Copper		19,600		593
Spartech *		1,300		12
Steel Dynamics		1,200		16
Syngenta ADR		20,600		948
Temple-Inland		400		6
Titanium Metals *		2,600		47
United States Steel		300		13
Walter Industries		1,000		72
Weyerhaeuser		400		6

				10,868


Telecommunication Services — 3.1%
American Tower, Cl A *		2,100		98
AT&T		156,712		4,236
BCE		9,700		303
CenturyLink		4,673		169


Description	Shares		Market Value ($ Thousands)

Crown Castle International *		42,900	$	1,764
Frontier Communications		5,608		43
MetroPCS Communications *		49,100		439
NII Holdings *		24,168		876
Qwest Communications International		29,199		165
SBA Communications, Cl A *		500		18
Sprint Nextel *		108,500		443
Verizon Communications		43,700		1,290
Windstream		1,900		22

				9,866


Utilities — 3.2%
AES *		215,226		2,204
AGL Resources		1,200		44
Allegheny Energy		915		21
Alliant Energy		3,800		133
Ameren		1,800		51
American Electric Power		1,200		42
American Water Works		6,700		151
Aqua America		2,800		56
Centerpoint Energy		6,500		96
CMS Energy		1,000		17
Consolidated Edison		2,000		95
Constellation Energy Group		39,555		1,160
Dominion Resources		3,100		133
DPL		4,000		101
DTE Energy		5,200		244
Duke Energy		1,600		27
Edison International		24,800		837
Energen		7,100		303
Entergy		6,400		505
Exelon		32,853		1,338
Great Plains Energy		1,500		28
Hawaiian Electric Industries		3,200		77
Integrys Energy Group		2,500		121
ITC Holdings		500		29
Mirant *		35,984		349
National Fuel Gas		600		26
NiSource		3,000		52
Northeast Utilities		2,500		72
NorthWestern		2,900		82
NSTAR		2,500		95
NV Energy		24,700		316
OGE Energy		1,800		70
Oneok		3,400		146
Pepco Holdings		7,200		129
PG&E		300		14
Pinnacle West Capital		3,200		128
Portland General Electric		1,500		30
Public Service Enterprise Group		15,400		492
Questar		500		8
SCANA		600		23
Southern		800		29
TECO Energy		10,700		181
Westar Energy		1,700		41
Wisconsin Energy		1,100		61
Xcel Energy		500		11

				10,168

Total Common Stock (Cost $307,001) ($ Thousands)				310,717


Description	Face Amount ($ Thousands)/ Shares		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS (A)(B) — 0.3%
U.S. Treasury Bills
0.035%, 12/16/10	$	663	$	662
0.330%, 02/10/11		300		300

Total U.S. Treasury Obligations (Cost $962) ($ Thousands)				962


CASH EQUIVALENT — 1.9%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200%** †		6,261,849		6,262

Total Cash Equivalent (Cost $6,262) ($ Thousands)				6,262

Total Investments — 98.9% (Cost $314,225)($ Thousands) ††			$	317,941

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)		Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
S&P 500 Index E-MINI		7		Sep-2010	$	2
S&P 500 Composite Index		29		Sep-2010		(359	)

					$	(357	)

Percentages are based on a Net Assets of $321,593($ Thousands).

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $314,225 ($ Thousands), and the unrealized appreciation and depreciation were $20,358 ($ Thousands) and $(16,642)($ Thousands), respectively.

(A)

Zero coupon security. The rate reported is the effective yield at time of purchase.

(B)

Security, or a portion thereof, has been pledged as collateral on open futures contracts.

ADR — American Depositary Receipt

Cl — Class

REIT — Real Estate Investment Trust

S&P — Standard & Poor’s

Ser — Series

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1			Level 2		Level 3		Total
Common Stock	$	310,717		$	—	$	—	$	310,717
U.S. Treasury Obligations		—			962		—		962
Cash Equivalent		6,262			—		—		6,262

Total Investments in Securities	$	316,979		$	962	$	—	$	317,941


Other Financial Instruments	Level 1			Level 2		Level 3		Total
Futures Contracts*	$	(357	)	$	—	$	—	$	(357	)

Total Other Financial Instruments	$	(357	)	$	—	$	—	$	(357	)

Futures contracts are valued at the unrealized depreciation on the instrument.

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

Amounts designated as “—” are $0 or have been rounded to $0.

For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.


Description	Shares		Market Value ($ Thousands)

COMMON STOCK — 83.3%

Consumer Discretionary — 8.5%
Abercrombie & Fitch, Cl A (A)		5,100	$	176
Amazon.com *(A)		153,574		19,171
American Eagle Outfitters		134,400		1,699
AutoZone *(A)		8,700		1,825
Bed Bath & Beyond *(A)		104,625		3,763
Best Buy (A)		580,827		18,232
Big Lots *		9,700		303
Brinker International (A)		60,400		951
Brown Shoe		136,400		1,435
Carmax *		30,000		598
Carnival		67,100		2,092
CBS, Cl B (A)		20,500		283
CEC Entertainment*		21,600		678
Chico’s FAS (A)		362,400		2,990
Coach (A)		352,500		12,633
Comcast, Cl A		2,951,447		49,186
Darden Restaurants		83,600		3,449
DeVry		79,600		3,034
DIRECTV, Cl A*		317,432		12,037
Discovery Communications, Cl A *(A)		19,900		751
Dollar Tree*(A)		16,250		737
Expedia (A)		82,900		1,895
Family Dollar Stores (A)		73,000		3,124
Ford Motor *(A)		3,372,705		38,078
Fortune Brands (A)		8,400		376
Fossil *		10,100		480
Gannett (A)		410,900		4,968
Gap (A)		208,300		3,518
Genuine Parts		13,700		575
Gymboree *(A)		46,200		1,739
H&R Block (A)		119,800		1,539
Harley-Davidson (A)		19,100		465
Harman International Industries *		17,800		555
Hasbro		48,700		1,965
Helen of Troy *		12,500		278
Home Depot (A)		449,595		12,503
Iconix Brand Group *(A)		137,700		2,098
J.C. Penney		27,169		544
Johnson Controls		347,336		9,215
Jones Apparel Group		18,200		280
Leggett & Platt		208,100		3,989
Lennar, Cl A		11,600		153
Liberty Media-Interactive, Cl A *		20,100		212
Liberty Media-Starz, Ser A *		8,400		502
Limited Brands (A)		324,300		7,653
Lincoln Educational Services *		12,500		137
Liz Claiborne *(A)		204,000		857
LKQ *		57,000		1,060
Lowe’s		563,308		11,435
Macy’s		310,976		6,045
Marriott International, Cl A		10,000		320
Mattel		656,100		13,772
Matthews International, Cl A		57,200		1,801
McDonald’s		562,529		41,099
McGraw-Hill (A)		41,300		1,142
MDC Holdings (A)		67,046		1,785
Modine Manufacturing *(A)		164,900		1,639
NetFlix *(A)		77,071		9,674
New York Times, Cl A *(A)		87,900		631


Description	Shares		Market Value ($ Thousands)

Newell Rubbermaid (A)		643,800	$	9,670
News, Cl A (A)		1,026,300		12,901
NIKE, Cl B (A)		63,500		4,445
Nordstrom		59,926		1,733
Office Depot *		37,300		127
Omnicom Group		240,918		8,435
O’Reilly Automotive *(A)		88,469		4,182
Papa John’s International *		7,400		176
PetSmart (A)		304,046		9,696
Polo Ralph Lauren, Cl A (A)		34,100		2,583
priceline.com *		9,501		2,769
RadioShack (A)		12,900		238
Ross Stores (A)		38,800		1,926
Scripps Networks Interactive, Cl A (A)		58,800		2,363
Sears Holdings *(A)		34,800		2,154
Stanley Black & Decker (A)		55,160		2,959
Starbucks (A)		379,600		8,727
Starwood Hotels & Resorts Worldwide (A)		52,500		2,453
Target		520,920		26,650
Tempur-Pedic International *(A)		92,000		2,465
Tenneco *		56,900		1,407
Texas Roadhouse, Cl A *		119,100		1,579
Thor Industries (A)		45,600		1,064
Tiffany (A)		60,000		2,378
Time Warner		1,151,445		34,520
Time Warner Cable, Cl A (A)		172,407		8,898
TJX		304,900		12,102
TRW Automotive Holdings *(A)		116,400		4,046
Urban Outfitters *(A)		56,100		1,701
VF (A)		44,100		3,114
Viacom, Cl B (A)		988,924		31,072
Walt Disney (A)		511,350		16,665
Warnaco Group *		7,700		322
Washington Post, Cl B		1,500		540
Whirlpool (A)		102,494		7,601
Williams-Sonoma (A)		75,100		1,950
Wyndham Worldwide		45,100		1,046
Wynn Resorts (A)		18,300		1,475
Yum! Brands		22,700		947

				563,203


Consumer Staples — 9.3%
Altria Group (A)		1,028,458		22,955
Archer-Daniels-Midland		294,383		9,061
Brown-Forman, Cl B (A)		36,000		2,206
Campbell Soup (A)		32,700		1,218
Central Garden and Pet, Cl A *		296,300		2,768
Clorox		40,238		2,608
Coca-Cola		770,287		43,074
Coca-Cola Enterprises		228,953		6,516
Colgate-Palmolive		169,000		12,479
ConAgra Foods		63,900		1,380
Constellation Brands, Cl A *		168,400		2,806
Corn Products International		8,900		304
Costco Wholesale		49,500		2,799
CVS Caremark		452,108		12,207
Dean Foods *(A)		289,900		2,966
Dr. Pepper Snapple Group		68,300		2,515
Estee Lauder, Cl A (A)		102,700		5,758
General Mills		351,905		12,725
Hershey (A)		475,138		22,080


Description	Shares		Market Value ($ Thousands)

HJ Heinz (A)		37,200	$	1,720
Hormel Foods		25,300		1,092
JM Smucker		54,300		3,175
Kellogg		176,220		8,755
Kimberly-Clark		105,794		6,813
Kraft Foods, Cl A		510,831		15,299
Kroger		427,100		8,427
Lance (A)		85,400		1,837
Lorillard		57,800		4,393
McCormick (A)		24,500		977
Mead Johnson Nutrition, Cl A		134,900		7,040
Molson Coors Brewing, Cl B		158,700		6,913
Nu Skin Enterprises, Cl A		40,200		1,028
PepsiCo		981,093		62,967
Philip Morris International		1,033,482		53,162
Procter & Gamble		1,353,447		80,760
Reynolds American (A)		144,600		7,887
Safeway		43,500		818
Sanderson Farms (A)		42,500		1,828
Sara Lee (A)		1,867,043		26,960
Smart Balance *		36,300		132
Supervalu (A)		1,631,943		15,863
Sysco (A)		294,379		8,092
Tyson Foods, Cl A (A)		1,648,831		27,008
Walgreen (A)		403,403		10,843
Wal-Mart Stores		1,604,770		80,463
Whole Foods Market *(A)		56,100		1,952

				614,629


Energy — 8.5%
Anadarko Petroleum		99,100		4,558
Apache (A)		154,900		13,918
Atwood Oceanics *(A)		61,800		1,550
Baker Hughes (A)		35,919		1,350
Cameron International *(A)		11,900		438
Chesapeake Energy (A)		301,000		6,225
Chevron		1,480,563		109,798
Cimarex Energy (A)		46,500		3,042
Complete Production Services *		9,100		160
ConocoPhillips		1,684,260		88,306
Denbury Resources *(A)		58,000		855
Devon Energy		255,855		15,423
EOG Resources (A)		60,600		5,264
EQT		8,300		270
Exxon Mobil		2,310,720		136,702
FMC Technologies *(A)		8,500		526
Halliburton		1,212,135		34,194
Helmerich & Payne (A)		86,200		3,193
Hess		178,100		8,949
James River Coal *(A)		126,500		2,001
Marathon Oil		1,061,876		32,377
Massey Energy (A)		32,100		923
Murphy Oil		92,144		4,935
National Oilwell Varco		125,000		4,699
Occidental Petroleum		252,942		18,485
Oceaneering International *		32,500		1,625
Oil States International*		4,710		194
Peabody Energy		10,300		441
PetroHawk Energy *		64,300		972
Pioneer Natural Resources (A)		77,800		4,498
QEP Resources		7,300		212
RPC (A)		10,600		173
Schlumberger (A)		528,261		28,172


Description	Shares		Market Value ($ Thousands)

SM Energy (A)		67,086	$	2,549
Southwestern Energy *		269,394		8,814
Spectra Energy		45,900		934
Suncor Energy		273,653		8,281
Sunoco (A)		34,700		1,169
Unit *(A)		46,600		1,588
Valero Energy		239,381		3,775
Williams		187,200		3,394

				564,932


Financials — 12.4%
ACE		49,500		2,647
Aflac (A)		96,400		4,555
Allied World Assurance Holdings		33,300		1,677
Allstate		209,594		5,785
American Equity Investment Life Holding		11,200		106
American Express		310,681		12,387
Ameriprise Financial (A)		116,736		5,088
Apartment Investment & Management, Cl A ‡(A)		142,100		2,905
Arch Capital Group *(A)		35,800		2,857
Assurant (A)		85,100		3,111
AvalonBay Communities ‡(A)		16,600		1,747
Bank of America		4,521,786		56,296
Bank of New York Mellon (A)		229,638		5,573
BB&T (A)		137,600		3,044
Berkshire Hathaway, Cl B *(A)		367,374		28,942
Boston Properties ‡(A)		20,200		1,644
Brandywine Realty Trust‡		235,400		2,587
Capital One Financial (A)		702,001		26,578
CB Richard Ellis Group, Cl A *(A)		85,500		1,404
Chimera Investment ‡(A)		5,953,023		23,395
Chubb		37,600		2,073
Cincinnati Financial		81,200		2,166
CIT Group *		21,900		803
Citigroup *(A)		6,983,826		25,980
City National (A)		332,600		16,111
CME Group, Cl A		32,272		8,006
Comerica (A)		180,900		6,225
CommonWealth REIT ‡		19,400		468
Digital Realty Trust ‡(A)		35,450		2,101
ETrade Financial		458,600		5,691
East West Bancorp		593,873		8,682
Equity Residential ‡(A)		84,800		3,886
Everest Re Group		35,977		2,847
Extra Space Storage ‡		155,400		2,376
Federated Investors, Cl B (A)		1,300		27
Fifth Third Bancorp		549,800		6,075
Franklin Resources		69,109		6,670
Fulton Financial		33,200		275
Genworth Financial, Cl A*		441,200		4,778
Goldman Sachs Group		388,193		53,159
Hartford Financial Services Group		182,064		3,670
HCP ‡(A)		9,100		321
Home Bancshares		104,099		2,242
Hospitality Properties Trust‡		174,500		3,411
Host Hotels & Resorts ‡(A)		188,962		2,481
Huntington Bancshares (A)		1,493,100		7,898
Invesco Mortgage Capital ‡		13,600		285
JPMorgan Chase		2,983,488		108,480
Keycorp (A)		2,090,000		15,403
Kilroy Realty ‡(A)		82,200		2,557


Description	Shares		Market Value ($ Thousands)

Kimco Realty ‡		48,200	$	719
Lexington Realty Trust ‡(A)		37,500		250
Lincoln National		89,300		2,086
Loews (A)		99,900		3,511
M&T Bank (A)		108,604		9,301
Macerich ‡(A)		64,000		2,651
Marshall & Ilsley (A)		396,500		2,597
MetLife		279,993		10,528
MFA Mortgage Investments ‡(A)		445,900		3,286
Morgan Stanley		302,516		7,469
New York Community Bancorp (A)		892,604		14,183
NYSE Euronext		66,600		1,847
PacWest Bancorp (A)		147,400		2,515
PartnerRe		69,836		5,199
Plum Creek Timber ‡(A)		46,900		1,617
PNC Financial Services Group		937,589		47,780
Progressive		1,900		38
Prosperity Bancshares		16,800		478
Prudential Financial		577,114		29,185
Public Storage ‡(A)		13,200		1,294
Rayonier ‡		113,999		5,392
Regions Financial (A)		1,702,271		10,946
RenaissanceRe Holdings (A)		102,030		5,794
Resource Capital ‡		80,700		478
Simon Property Group ‡		32,889		2,975
SLM *(A)		394,200		4,356
State Street		262,461		9,207
Sunstone Hotel Investors ‡*		29,400		252
SunTrust Banks (A)		122,600		2,757
T. Rowe Price Group		110,828		4,852
Torchmark (A)		33,700		1,663
Travelers (A)		138,400		6,779
UDR ‡(A)		149,800		3,083
Unum Group		307,900		6,173
US Bancorp		801,566		16,673
Ventas ‡(A)		32,300		1,631
Vornado Realty Trust ‡		6,441		522
Wells Fargo		3,672,414		86,485
Wintrust Financial (A)		69,800		2,007
XL Group, Cl A (A)		46,100		826
Zions Bancorporation (A)		197,100		3,633

				820,493


Health Care — 10.6%
Abbott Laboratories		285,816		14,102
Aetna		214,500		5,731
Allergan		141,800		8,709
AmerisourceBergen		652,430		17,798
Amgen *		1,286,129		65,644
Baxter International		134,100		5,707
Becton Dickinson (A)		95,800		6,533
Biogen Idec *(A)		188,648		10,149
Bristol-Myers Squibb (A)		937,682		24,455
Bruker *(A)		46,900		558
C.R. Bard		28,300		2,174
Cardinal Health		791,503		23,713
CareFusion *		251,200		5,421
Celgene *		232,500		11,978
Cephalon *(A)		73,800		4,178
Cerner *(A)		4,500		328
CIGNA		81,300		2,620


Description	Shares		Market Value ($ Thousands)

Community Health Systems *(A)		64,100	$	1,671
Coventry Health Care *		172,900		3,346
Covidien		293,100		10,358
DaVita *		41,600		2,688
Eli Lilly (A)		699,195		23,465
Express Scripts *		294,158		12,531
Gilead Sciences *		275,673		8,783
Haemonetics *		32,200		1,677
Hospira *(A)		145,300		7,463
Humana *		93,800		4,483
Impax Laboratories *		159,600		2,499
Intuitive Surgical *(A)		45,800		12,138
Invacare (A)		23,500		538
Johnson & Johnson		1,741,109		99,278
King Pharmaceuticals *		46,000		401
Life Technologies *(A)		301,214		12,883
McKesson		385,283		22,366
Medco Health Solutions *		338,148		14,703
Medicines *		45,700		526
Medtronic		1,055,166		33,217
Merck		1,438,977		50,594
Mylan Laboratories *(A)		265,100		4,549
Par Pharmaceutical *		18,300		483
Patterson (A)		91,700		2,319
PerkinElmer		125,700		2,641
Pfizer		4,746,586		75,613
Sirona Dental Systems *		8,300		262
St. Jude Medical *		54,600		1,887
Stryker (A)		163,400		7,057
SXC Health Solutions *		5,700		443
Thermo Fisher Scientific *		428,094		18,031
UnitedHealth Group		501,200		15,898
Varian Medical Systems *(A)		66,900		3,562
VCA Antech *		54,300		1,074
Viropharma *		38,600		484
Warner Chilcott, Cl A *(A)		172,700		4,908
Waters *		36,400		2,203
Watson Pharmaceuticals *		35,900		1,546
WellPoint *		445,739		22,144
Zimmer Holdings *		57,700		2,722

				703,232


Industrials — 9.6%
3M (A)		264,566		20,782
Administaff		45,500		984
Altra Holdings *		123,600		1,591
Avery Dennison		16,900		550
BE Aerospace *		75,400		2,032
Boeing (A)		205,818		12,582
Bucyrus International, Cl A (A)		32,100		1,845
Caterpillar (A)		256,728		16,728
Chicago Bridge & Iron *		7,387		161
Continental Airlines, Cl B *(A)		129,066		2,883
Cooper Industries, Cl A		36,321		1,529
CSX		95,700		4,775
Cummins		152,463		11,345
Danaher		34,700		1,261
Deere		151,800		9,604
Delta Air Lines *(A)		150,044		1,569
Dover (A)		416,500		18,643
Eaton (A)		131,500		9,137
Emerson Electric (A)		715,530		33,379
Equifax		25,200		743


Description	Shares		Market Value ($ Thousands)

Fastenal (A)		37,300	$	1,689
FedEx (A)		127,800		9,975
Flowserve		2,200		197
FTI Consulting *(A)		42,200		1,383
Generac Holdings *		86,862		1,053
General Dynamics		660,341		36,893
General Electric		5,661,129		81,973
Gibraltar Industries *		132,200		1,005
Goodrich		68,700		4,705
GrafTech International *		86,900		1,222
Great Lakes Dredge & Dock		216,800		1,094
Honeywell International (A)		897,385		35,079
IDEX (A)		13,000		387
Illinois Tool Works		96,900		3,998
Iron Mountain (A)		19,116		388
ITT		48,200		2,048
Joy Global		30,166		1,712
Kansas City Southern *		19,300		648
Kennametal		18,000		454
L-3 Communications Holdings, Cl 3		66,200		4,409
Lockheed Martin		476,070		33,096
Masco (A)		32,800		344
Middleby *(A)		31,100		1,710
Navigant Consulting *		174,800		1,730
Navistar International *(A)		103,262		4,325
Norfolk Southern (A)		173,700		9,324
Northrop Grumman		252,276		13,653
Oshkosh Truck *		111,700		2,779
Owens Corning *(A)		282,789		7,692
Paccar		11,100		455
Parker Hannifin		265,400		15,701
Precision Castparts		18,700		2,117
Raytheon		393,400		17,278
Regal-Beloit		21,800		1,206
Republic Services, Cl A (A)		334,389		9,841
Rockwell Automation (A)		194,100		9,926
Rockwell Collins		167,947		9,057
RR Donnelley & Sons		51,600		781
Snap-On		7,500		309
Southwest Airlines (A)		527,300		5,827
Stericycle *		5,300		347
Team *		119,900		1,754
Textron (A)		15,700		268
Trex *(A)		68,900		1,381
Tyco International (A)		142,766		5,322
Union Pacific		237,279		17,307
United Parcel Service, Cl B		661,417		42,198
United Technologies		823,279		53,686
UTi Worldwide		145,600		2,040
WABCO Holdings *		34,300		1,209
Waste Management (A)		279,088		9,235
WESCO International *		12,518		404
WW Grainger (A)		84,443		8,933

				633,670


Information Technology — 16.3%
Adobe Systems *		3,600		100
Advanced Micro Devices *(A)		2,024,984		11,380
Agilent Technologies *		274,900		7,414
Akamai Technologies *(A)		111,100		5,118
Altera (A)		67,800		1,673
Amdocs *		11,100		291


Description	Shares		Market Value ($ Thousands)

Analog Devices		10,300	$	287
AOL *		68,000		1,511
Apple *		552,280		134,408
Applied Materials		221,700		2,304
Autodesk *		154,800		4,296
Automatic Data Processing		21,853		844
Avnet *		28,800		660
Baidu.com ADR *		58,400		4,580
BMC Software *(A)		56,900		2,052
Broadcom, Cl A (A)		189,100		5,667
CA		30,900		557
Cisco Systems *		3,269,802		65,559
Citrix Systems *(A)		48,000		2,781
Cognizant Technology Solutions, Cl A *		265,472		15,292
Computer Sciences		28,600		1,139
Corning		644,100		10,099
Dell *		273,447		3,218
Dolby Laboratories, Cl A *		12,800		709
eBay *		122,700		2,852
Echo Global Logistics *(A)		154,228		1,937
EMC *(A)		1,603,200		29,242
FLIR Systems *(A)		76,300		1,917
Google, Cl A *		100,100		45,047
Harris		166,500		7,005
Hewlett-Packard		2,058,077		79,195
Intel		4,300,062		76,197
International Business Machines		1,145,219		141,125
Intuit *		155,000		6,634
Jabil Circuit		1,272,139		13,039
JDS Uniphase *(A)		295,600		2,716
Juniper Networks *(A)		118,400		3,220
Kla-Tencor		38,300		1,073
Lender Processing Services		120,596		3,537
Lexmark International, Cl A *(A)		97,900		3,426
Linear Technology (A)		13,900		398
Marvell Technology Group *		55,700		888
Mastercard, Cl A (A)		67,800		13,449
McAfee *		156,800		7,377
Microchip Technology (A)		3,800		105
Micron Technology *(A)		2,105,726		13,614
Microsoft		6,028,793		141,556
NetApp *(A)		134,700		5,447
Novellus Systems *(A)		97,400		2,269
Nuance Communications *(A)		147,800		2,170
Nvidia *		54,650		510
ON Semiconductor *		295,500		1,826
Oracle		1,631,816		35,704
Paychex		24,400		607
Plantronics		12,800		350
Polycom *		39,500		1,125
QLogic *		93,000		1,385
Qualcomm (A)		547,418		20,972
Quest Software *(A)		111,300		2,385
Red Hat *(A)		95,000		3,282
Salesforce.com *(A)		40,000		4,395
SanDisk *(A)		321,767		10,696
Seagate Technology *		73,200		742
Smart Technologies, Cl A *(A)		298,440		3,420
SS&C Technologies Holdings *(A)		151,500		2,135
Supertex *		34,162		752
Symantec *(A)		376,300		5,129
Tellabs (A)		52,900		376


Description	Shares		Market Value ($ Thousands)

Teradata *		34,300	$	1,123
Texas Instruments (A)		1,154,862		26,597
VeriSign *		22,100		644
Visa, Cl A (A)		536,730		37,024
Vishay Intertechnology *		36,400		280
VMware, Cl A *(A)		125,350		9,849
WebMD Health, Cl A *(A)		10,752		548
Western Digital *		54,200		1,309
Western Union		610,382		9,571
Xerox		614,925		5,190
Xilinx (A)		16,000		386

				1,075,686


Materials — 2.9%
Air Products & Chemicals (A)		46,200		3,420
Airgas		13,681		900
Alcoa (A)		243,800		2,489
Allegheny Technologies (A)		275,807		11,231
Ashland		66,800		3,104
Ball		245,200		13,751
Boise *(A)		185,100		1,273
Cabot		35,900		1,021
Celanese, Cl A		134,200		3,583
Cliffs Natural Resources (A)		92,125		5,637
Commercial Metals		59,600		776
Cytec Industries		24,800		1,176
Dow Chemical (A)		72,000		1,755
E.I. Du Pont de Nemours (A)		888,130		36,209
Eastman Chemical		31,200		1,920
Freeport-McMoRan Copper & Gold, Cl B		93,733		6,747
H.B. Fuller		10,800		205
Huntsman (A)		1,043,056		9,502
Innospec *		72,800		903
International Flavors & Fragrances		44,100		2,015
Lubrizol		40,777		3,805
MeadWestvaco		87,600		1,906
Monsanto		255,851		13,471
Mosaic		90,600		5,315
Nalco Holding (A)		139,100		3,160
Newmont Mining (A)		326,438		20,017
Owens-Illinois *		54,600		1,368
Potash Corp of Saskatchewan		33,759		4,971
PPG Industries		43,900		2,890
Praxair (A)		117,667		10,123
Rock-Tenn, Cl A		44,100		2,125
Rockwood Holdings *		56,900		1,471
Schnitzer Steel Industries, Cl A		81,100		3,588
Schweitzer-Mauduit International		42,600		2,294
Sherwin-Williams (A)		1,800		127
Solutia *		105,400		1,427
Temple-Inland		68,400		1,090
Titanium Metals * (A)		96,400		1,747
United States Steel (A)		9,800		417
Weyerhaeuser (A)		9,200		144

				189,073


Telecommunication Services — 2.7%
American Tower, Cl A *		217,327		10,184
AT&T		4,497,587		121,570


Description	Face Amount ($ Thousands)/Shares		Market Value ($) Thousands)

CenturyLink (A)		106,204	$	3,840
Frontier Communications (A)		171,928		1,329
MetroPCS Communications *		63,900		571
NII Holdings *(A)		194,862		7,064
Qwest Communications International (A)		832,998		4,706
Verizon Communications		1,046,398		30,879
Windstream (A)		67,413		778

				180,921


Utilities — 2.5%
AGL Resources		37,100		1,362
Allegheny Energy (A)		28,231		637
Ameren		32,000		898
American Electric Power		23,100		818
American Water Works		132,700		2,997
Centerpoint Energy		151,600		2,242
CMS Energy (A)		34,200		599
Consolidated Edison (A)		64,700		3,075
Constellation Energy Group		775,736		22,752
Dominion Resources (A)		144,700		6,187
DPL		75,200		1,904
DTE Energy		265,515		12,440
Duke Energy (A)		252,800		4,346
Edison International		172,000		5,805
Energen		16,300		696
Entergy		31,900		2,515
Exelon (A)		857,873		34,932
Integrys Energy Group (A)		90,900		4,404
MDU Resources Group		14,300		269
New Jersey Resources (A)		66,000		2,456
NextEra Energy (A)		164,460		8,836
Nicor (A)		34,400		1,455
NiSource		80,000		1,387
Northeast Utilities		415,090		12,025
NorthWestern		25,900		728
Oneok		96,700		4,149
Pepco Holdings (A)		229,800		4,125
PG&E		22,704		1,062
Piedmont Natural Gas (A)		73,700		2,010
Pinnacle West Capital		101,800		4,057
Public Service Enterprise Group		16,500		527
SCANA		21,600		843
Southern (A)		65,900		2,418
TECO Energy (A)		365,200		6,165
Wisconsin Energy		39,700		2,213
Xcel Energy		30,800		687

				164,021

Total Common Stock (Cost $5,312,179) ($ Thousands)				5,509,860


EXCHANGE TRADED FUND — 0.0%
SPDR Trust Series 1 (A)		5,962		629

Total Exchange Traded Fund (Cost $632) ($ Thousands)				629


U.S. TREASURY OBLIGATIONS (B)(C) — 1.6%
U.S. Treasury Bills
0.035%, 12/16/10	$	104,055		104,012


Description	Face Amount ($Thousands) /Shares		Market Value ($ Thousands)
0.330%, 02/10/11	$	3,145	$	3,142

Total U.S. Treasury Obligations (Cost $107,135) ($ Thousands)				107,154


CASH EQUIVALENT — 3.0%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200%**†		199,442,784		199,443

Total Cash Equivalent (Cost $199,443) ($ Thousands)				199,443


AFFILIATED PARTNERSHIPS — 22.0%
SEI LIBOR Plus Portfolio†		111,582,526		758,761
SEI Liquidity Fund, L.P., 0.250% (D)**†		707,586,574		699,295

Total Affiliated Partnerships (Cost $1,639,740) ($ Thousands)				1,458,056

Total Investments — 109.9% (Cost $7,259,129) ($ Thousands)††			$	7,275,142

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)		Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
S&P 500 Index E-MINI		705		Sep-2010	$	122
S&P 500 Composite Index		4,030		Sep-2010		(13,050	)

					$	(12,928	)

Percentages are based on a Net Assets of $6,616,927($ Thousands).

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $7,259,129 ($ Thousands), and the unrealized appreciation and depreciation were $356,924 ($ Thousands) and $(340,911)($ Thousands), respectively.

(A)

This security or a partial position of this security is on loan at August 31, 2010. The total value of securities on loan at August 31, 2010 was $689,531 ($ Thousands).

(B)

Zero coupon security. The rate reported is the effective yield at time of purchase.

(C)

Security, or a portion thereof, has been pledged as collateral on open futures contracts.

(D)

This security was purchased with cash collateral held from securities on loan. The total value of such securities as of August 31, 2010 was $ 699,295 ($ Thousands).

ADR — American Depositary Receipt

Cl — Class

LIBOR — London Interbank Offered Rate

L.P. — Limited Partnership

REIT — Real Estate Investment Trust

S&P — Standard & Poor’s

Ser — Series

SPDR — Standard & Poor’s Depositary Receipt

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1			Level 2		Level 3		Total
Common Stock	$	5,509,860		$	—	$	—	$	5,509,860
Exchange Traded Fund		629			—		—		629
U.S. Treasury Obligations		—			107,154		—		107,154
Cash Equivalent		199,443			—		—		199,443
Affiliated Partnerships		—			1,458,056		—		1,458,056

Total Investments in Securities	$	5,709,932		$	1,565,210	$	—	$	7,275,142


Other Financial Instruments	Level 1			Level 2		Level 3		Total
Futures Contracts*	$	(12,928	)	$	—	$	—	$	(12,928	)

Total Other Financial Instruments	$	(12,928	)	$	—	$	—	$	(12,928	)

Futures contracts are valued at the unrealized depreciation on the instrument.

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

Amounts designated as “—” are $0 or have been rounded to $0.


Description	Shares		Market Value ($ Thousands)

COMMON STOCK — 97.6%

Consumer Discretionary — 10.6%
Aaron’s (A)		2,700	$	44
Abercrombie & Fitch, Cl A (A)		3,202		111
Advance Auto Parts (A)		3,308		180
Aeropostale *		3,600		77
Amazon.com *		14,489		1,808
American Eagle Outfitters		8,871		112
Apollo Group, Cl A *		5,464		232
Autoliv (A)		3,918		212
AutoNation *(A)		2,832		64
AutoZone *(A)		1,107		232
Bally Technologies *		2,000		63
Bed Bath & Beyond *		11,115		400
Best Buy (A)		14,247		447
Big Lots *		3,300		103
BorgWarner *(A)		5,382		235
Brinker International		4,483		71
Burger King Holdings (A)		5,000		82
Cablevision Systems, Cl A		9,642		242
Career Education *(A)		3,259		57
Carmax *		8,460		169
Carnival		18,600		580
CBS, Cl B (A)		29,269		404
Central European Media Enterprises, Cl A *(A)		1,800		38
Chico’s FAS		8,600		71
Chipotle Mexican Grill, Cl A *(A)		1,400		211
Choice Hotels International (A)		1,484		49
Clear Channel Outdoor Holdings, Cl A *		700		7
Coach		13,067		468
Comcast, Cl A		116,525		1,995
Darden Restaurants		6,322		261
DeVry		2,900		111
Dick’s Sporting Goods *(A)		4,258		104
DIRECTV, Cl A *		36,529		1,385
Discovery Communications, Cl A *(A)		12,000		453
DISH Network, Cl A		8,062		145
Dollar General *		3,000		82
Dollar Tree *(A)		5,229		237
DR Horton (A)		12,868		132
DreamWorks Animation SKG, Cl A *		3,434		102
Education Management *(A)		1,500		12
Expedia		8,134		186
Family Dollar Stores (A)		5,562		238
Federal Mogul, Cl A *		1,500		23
Foot Locker		6,869		81
Ford Motor *(A)		137,884		1,557
Fortune Brands (A)		6,720		301
Fossil *		1,900		90
GameStop, Cl A *(A)		5,700		102
Gannett		11,259		136
Gap		19,559		330
Garmin (A)		5,300		141
Gentex		6,132		108
Genuine Parts		6,571		275
Goodyear Tire & Rubber *(A)		11,052		102
Guess? (A)		2,900		94


Description	Shares		Market Value ($ Thousands)

H&R Block		13,425	$	173
Hanesbrands *		4,143		99
Harley-Davidson (A)		9,103		221
Harman International Industries *		3,568		111
Hasbro		5,867		237
Hillenbrand		2,824		54
Home Depot (A)		70,015		1,947
Hyatt Hotels, Cl A *(A)		2,300		87
International Game Technology		13,643		199
International Speedway, Cl A (A)		1,512		35
Interpublic Group *		18,375		157
ITT Educational Services *(A)		1,621		86
J Crew Group *(A)		2,000		61
J.C. Penney (A)		9,151		183
Jarden		4,300		116
John Wiley & Sons, Cl A		1,842		66
Johnson Controls		28,745		763
KB Home (A)		3,380		35
Kohl’s *		12,419		583
Lamar Advertising, Cl A *		2,540		67
Las Vegas Sands *(A)		13,793		391
Lear *		1,800		132
Leggett & Platt		6,119		117
Lennar, Cl A		7,230		95
Liberty Global, Cl A *(A)		10,671		294
Liberty Media-Capital, Ser A *		3,492		157
Liberty Media-Interactive, Cl A *		26,247		277
Liberty Media-Starz, Ser A *		2,436		146
Limited Brands (A)		11,557		273
LKQ *		5,300		99
Lowe’s		59,310		1,204
Macy’s		18,630		362
Madison Square Garden, Cl A *		2,860		56
Marriott International, Cl A (A)		11,587		371
Mattel		15,242		320
McDonald’s		44,680		3,264
McGraw-Hill (A )		13,239		366
MDC Holdings		1,516		40
Meredith (A)		1,358		40
MGM Mirage *(A)		13,039		117
Mohawk Industries *(A)		2,166		96
Morningstar *(A)		900		36
NetFlix *(A)		1,800		226
New York Times, Cl A *(A)		4,824		35
Newell Rubbermaid (A)		10,365		156
News, Cl A		93,985		1,181
NIKE, Cl B (A)		14,748		1,033
Nordstrom		7,312		212
NVR *(A)		224		135
Office Depot *		14,189		48
Omnicom Group		12,944		453
O’Reilly Automotive *(A)		5,340		252
Panera Bread, Cl A *(A)		1,162		93
Penn National Gaming *		2,989		84
PetSmart (A)		4,873		155
Phillips-Van Heusen		2,300		105
Polo Ralph Lauren, Cl A		2,180		165
priceline.com *		2,000		583
Pulte Homes *(A)		15,545		125
RadioShack (A)		5,571		103
Regal Entertainment Group, Cl A		4,188		52
Ross Stores (A)		5,071		252
Royal Caribbean Cruises *(A)		5,900		145


Description	Shares		Market Value ($ Thousands)

Scripps Networks Interactive, Cl A		4,072	$	164
Sears Holdings *(A)		1,828		113
Service International		11,194		86
Signet Jewelers *		3,800		101
Sirius XM Radio *(A)		157,100		150
Stanley Black & Decker		6,693		359
Staples		29,564		525
Starbucks (A)		31,906		733
Starwood Hotels & Resorts Worldwide (A)		8,284		387
Strayer Education (A)		600		87
Target		30,385		1,555
Tempur-Pedic International *		2,700		72
Thomson Reuters		15,700		546
Thor Industries		1,900		44
Tiffany (A)		5,125		203
Time Warner		46,979		1,408
Time Warner Cable, Cl A		14,484		747
TJX		17,454		693
Toll Brothers *		6,051		105
Tractor Supply (A)		1,300		88
TRW Automotive Holdings *(A)		2,793		97
Tupperware Brands		2,400		95
Urban Outfitters *		4,920		149
VF		3,617		256
Viacom, Cl B		24,769		778
Virgin Media (A)		13,620		283
Walt Disney (A)		81,272		2,649
Washington Post, Cl B		257		93
Weight Watchers International (A)		1,662		47
Wendy’s, Cl A		11,100		43
Whirlpool (A)		3,287		244
Williams-Sonoma (A)		4,662		121
WMS Industries *		2,600		92
Wyndham Worldwide		6,968		162
Wynn Resorts		3,096		249
Yum! Brands		19,948		832

				49,034


Consumer Staples — 10.3%
Alberto-Culver, Cl B		3,687		114
Altria Group		86,168		1,923
Archer-Daniels-Midland		27,479		846
Avon Products		18,406		536
BJ’s Wholesale Club *		2,672		112
Brown-Forman, Cl B		4,418		271
Bunge (A)		5,600		297
Campbell Soup		7,778		290
Central European Distribution *		3,100		71
Church & Dwight		3,132		192
Clorox		5,903		383
Coca-Cola		88,320		4,939
Coca-Cola Enterprises		12,615		359
Colgate-Palmolive		20,275		1,497
ConAgra Foods		19,086		412
Constellation Brands, Cl A *		6,931		115
Corn Products International		2,900		99
Costco Wholesale (A)		18,081		1,022
CVS Caremark		56,252		1,519
Dean Foods *		8,087		83
Del Monte Foods		8,458		110
Dr. Pepper Snapple Group (A)		10,300		379


Description	Shares		Market Value ($ Thousands)

Energizer Holdings *		2,641	$	166
Estee Lauder, Cl A		4,254		238
Flowers Foods (A)		2,700		70
General Mills		27,192		983
Green Mountain Coffee Roasters *(A)		5,100		157
Hansen Natural *		2,700		122
Herbalife		2,200		122
Hershey (A)		5,998		279
HJ Heinz (A)		13,637		631
Hormel Foods		3,339		144
JM Smucker		5,011		293
Kellogg		10,703		532
Kimberly-Clark		17,018		1,096
Kraft Foods, Cl A		66,315		1,986
Kroger		27,373		540
Lorillard		6,550		498
McCormick		5,593		223
Mead Johnson Nutrition, Cl A		8,586		448
Molson Coors Brewing, Cl B		5,462		238
NBTY *		2,600		142
PepsiCo		67,652		4,342
Philip Morris International		77,468		3,985
Procter & Gamble		120,674		7,201
Ralcorp Holdings *		2,600		155
Reynolds American		7,010		382
Safeway (A)		17,220		324
Sara Lee		28,251		408
Smithfield Foods *(A)		5,975		96
Supervalu		7,789		76
Sysco (A)		25,248		694
Tyson Foods, Cl A (A)		11,865		194
Walgreen (A)		40,225		1,081
Wal-Mart Stores		85,379		4,281
Whole Foods Market *(A)		5,752		200

				47,896


Energy — 10.3%
Alpha Natural Resources *		4,868		181
Anadarko Petroleum		20,240		931
Apache		15,059		1,353
Arch Coal		5,912		133
Atlas Energy *		3,000		82
Atwood Oceanics *		2,800		70
Baker Hughes		17,540		659
Cabot Oil & Gas (A)		4,000		111
Cameron International *		10,244		377
Chesapeake Energy		28,166		582
Chevron		84,102		6,237
Cimarex Energy (A)		3,500		229
Cobalt International Energy *		4,300		35
Comstock Resources *		2,400		52
Concho Resources *		3,700		216
ConocoPhillips		62,476		3,276
Consol Energy		9,644		311
Continental Resources *(A)		1,600		65
Core Laboratories		1,800		142
Denbury Resources *		15,524		229
Devon Energy		18,413		1,110
Diamond Offshore Drilling (A)		2,709		158
Dresser-Rand Group *		3,934		140
El Paso		29,503		336
EOG Resources (A)		10,345		899


Description	Shares		Market Value ($ Thousands)

EQT		6,066	$	198
EXCO Resources		6,800		91
Exterran Holdings *(A)		2,900		64
Exxon Mobil		213,342		12,621
FMC Technologies *		5,360		332
Forest Oil *		4,914		128
Frontier Oil		4,600		54
Frontline		2,200		58
Halliburton		37,197		1,049
Helmerich & Payne (A)		3,850		143
Hess		12,412		624
Holly		2,000		52
Marathon Oil		29,076		887
Mariner Energy *(A)		3,500		80
Massey Energy		4,861		140
McDermott International *		9,500		122
Murphy Oil		8,054		431
Nabors Industries *		10,900		171
National Oilwell Varco		17,880		672
Newfield Exploration *		5,399		259
Noble Energy		7,462		521
Occidental Petroleum		33,954		2,481
Oceaneering International *		2,600		130
Oil States International *		1,700		70
Patterson-UTI Energy		5,232		77
Peabody Energy		11,374		487
PetroHawk Energy *		13,800		209
Pioneer Natural Resources (A)		4,844		280
Plains Exploration & Production *		6,491		155
Pride International *(A)		8,029		189
QEP Resources		7,346		213
Quicksilver Resources *		5,102		62
Range Resources		6,639		224
Rowan *(A)		5,386		139
SandRidge Energy *		17,900		72
Schlumberger (A)		56,766		3,027
SEACOR Holdings *		900		71
SM Energy		2,700		103
Southern Union		5,368		121
Southwestern Energy *		14,676		480
Spectra Energy (A)		27,909		568
Sunoco (A)		5,556		187
Superior Energy Services *		3,500		75
Teekay		2,100		51
Tesoro (A)		6,846		77
Tidewater		2,170		87
Ultra Petroleum *		6,200		242
Unit *		2,127		72
Valero Energy		23,236		366
Weatherford International *		31,000		462
Whiting Petroleum *(A)		1,900		161
Williams		24,746		449

				47,998


Financials — 15.9%
ACE (A)		14,300		765
Affiliated Managers Group *(A)		2,133		137
Aflac		19,256		910
Alexandria Real Estate Equities ‡(A)		2,000		139
Alleghany *		242		72
Allied World Assurance Holdings		1,800		91
Allstate		22,925		633


Description	Shares		Market Value ($ Thousands)

AMB Property ‡		6,644	$	158
American Express		43,334		1,728
American Financial Group		4,214		121
American International Group *(A)		4,923		167
American National Insurance		222		17
AmeriCredit *(A)		2,072		50
Ameriprise Financial		10,800		471
Annaly Capital Management ‡(A)		26,611		462
AON (A)		11,550		419
Apartment Investment & Management, Cl A ‡(A)		4,399		90
Arch Capital Group *		2,300		183
Ares Capital		7,300		109
Arthur J Gallagher		4,804		119
Aspen Insurance Holdings		3,700		105
Associated Banc (A)		6,184		75
Assurant		5,193		190
Assured Guaranty		7,000		108
AvalonBay Communities ‡(A)		3,541		373
Axis Capital Holdings		5,100		157
Bancorpsouth (A)		3,600		46
Bank of America		419,818		5,227
Bank of Hawaii (A)		1,982		89
Bank of New York Mellon (A)		49,909		1,211
BB&T (A)		29,606		655
Berkshire Hathaway, Cl B *(A)		72,500		5,712
BlackRock, Cl A		1,485		211
BOK Financial (A)		775		35
Boston Properties ‡(A)		5,584		455
Brandywine Realty Trust ‡		6,600		72
BRE Properties ‡		2,920		119
Brown & Brown (A)		4,224		80
Camden Property Trust ‡		2,347		107
Capital One Financial (A)		19,525		739
CapitalSource		11,382		57
Capitol Federal Financial (A)		1,027		26
CB Richard Ellis Group, Cl A *(A)		10,717		176
Charles Schwab		40,085		511
Chimera Investment ‡(A)		32,100		126
Chubb		13,318		734
Cincinnati Financial (A)		6,786		181
CIT Group *		8,300		304
Citigroup *		879,145		3,270
City National (A)		1,638		79
CME Group, Cl A		2,774		688
CNA Financial *		1,700		44
Comerica (A)		7,853		270
Commerce Bancshares		3,218		115
CommonWealth REIT ‡		2,825		68
Corporate Office Properties Trust ‡(A)		2,800		101
Cullen/Frost Bankers		2,368		121
Developers Diversified Realty ‡		7,500		78
Digital Realty Trust ‡(A)		3,600		213
Discover Financial Services		23,789		345
Douglas Emmett ‡(A)		5,400		87
Duke Realty ‡		10,909		122
ETrade Financial		8,600		107
East West Bancorp		5,600		82
Eaton Vance (A)		5,310		138
Endurance Specialty Holdings (A)		2,200		81
Equity Residential ‡(A)		11,387		522


Description	Shares		Market Value ($ Thousands)

Erie Indemnity, Cl A		1,119	$	59
Essex Property Trust ‡		1,069		113
Everest Re Group		2,400		190
Federal Realty Investment Trust ‡(A)		2,796		222
Federated Investors, Cl B (A)		3,658		76
Fidelity National Financial, Cl A		10,604		154
Fifth Third Bancorp		33,982		376
First Citizens BancShares, Cl A		300		50
First Horizon National *(A)		11,321		114
First Niagara Financial Group		9,400		106
Forest City Enterprises, Cl A *(A)		5,142		58
Franklin Resources		6,303		608
Fulton Financial		8,095		67
General Growth Properties ‡		9,900		139
Genworth Financial, Cl A *		20,292		220
GLG Partners *(A)		10,000		45
Goldman Sachs Group		21,375		2,927
Greenhill (A)		1,500		106
Hanover Insurance Group		2,193		95
Hartford Financial Services Group		18,710		377
HCC Insurance Holdings		4,041		102
HCP ‡		12,074		425
Health Care REIT ‡		4,983		229
Hospitality Properties Trust ‡		5,966		117
Host Hotels & Resorts ‡(A)		26,140		343
Hudson City Bancorp		21,328		246
Huntington Bancshares (A)		28,934		153
Interactive Brokers Group, Cl A *(A)		2,200		36
IntercontinentalExchange *		3,100		296
Invesco		19,100		346
Janus Capital Group (A)		9,365		85
Jefferies Group (A)		5,414		122
Jones Lang LaSalle (A)		1,600		121
JPMorgan Chase		166,734		6,063
Keycorp (A)		35,495		262
Kimco Realty ‡		17,844		266
Lazard, Cl A		3,800		119
Legg Mason (A)		6,481		164
Leucadia National		8,420		180
Liberty Property Trust ‡		5,006		152
Lincoln National		13,388		313
Loews (A)		13,436		472
M&T Bank (A)		3,083		264
Macerich ‡(A)		5,711		237
Mack-Cali Realty ‡		3,798		117
Markel *(A)		450		147
Marsh & McLennan (A)		22,965		545
Marshall & Ilsley		21,260		139
MBIA *(A)		4,859		45
Mercury General		1,196		47
MetLife		27,209		1,023
Moody’s (A)		8,627		182
Morgan Stanley		57,678		1,424
MSCI, Cl A *		4,700		141
NASDAQ OMX Group *		6,700		120
Nationwide Health Properties ‡		4,700		181
New York Community Bancorp (A)		17,572		279
Northern Trust		10,405		480
NYSE Euronext		11,600		322
Old Republic International (A)		11,490		147


Description	Shares		Market Value ($ Thousands)

OneBeacon Insurance Group, Cl A		1,100	$	14
PartnerRe		3,400		253
People’s United Financial (A)		16,934		216
Piedmont Office Realty Trust, Cl A ‡		2,700		50
Plum Creek Timber ‡(A)		6,721		232
PNC Financial Services Group		21,622		1,102
Popular *		48,330		124
Principal Financial Group		13,418		309
Progressive		28,880		572
ProLogis ‡(A)		18,888		205
Protective Life		3,509		66
Prudential Financial		19,063		964
Public Storage ‡		5,968		585
Raymond James Financial (A)		4,221		97
Rayonier ‡		3,503		166
Realty Income ‡(A)		4,600		150
Regency Centers ‡(A)		3,308		121
Regions Financial		49,887		321
Reinsurance Group of America, Cl A		3,199		140
RenaissanceRe Holdings (A)		2,300		131
SEI (B)		5,642		100
Senior Housing Properties Trust ‡		5,400		127
Simon Property Group ‡		11,981		1,084
SL Green Realty ‡		3,068		185
SLM *(A)		19,914		220
St. Joe *(A)		3,161		76
StanCorp Financial Group		2,042		73
State Street		21,394		751
SunTrust Banks		21,446		482
Symetra Financial		2,500		27
Synovus Financial (A)		38,472		79
T. Rowe Price Group (A)		10,480		459
Taubman Centers ‡(A)		2,200		91
TCF Financial (A)		6,301		90
TD Ameritrade Holding *(A)		9,545		139
TFS Financial		3,700		34
Torchmark (A)		3,750		185
Transatlantic Holdings		2,455		117
Travelers		20,144		987
UDR ‡		7,393		152
Unitrin		2,460		59
Unum Group		14,805		297
US Bancorp		79,243		1,648
Validus Holdings		2,600		66
Valley National Bancorp (A)		8,011		104
Ventas ‡(A)		6,944		351
Vornado Realty Trust ‡		6,836		554
Waddell & Reed Financial, Cl A		4,100		94
Washington Federal		4,063		58
Weingarten Realty Investors ‡(A)		4,467		90
Wells Fargo		203,966		4,803
Wesco Financial		41		15
White Mountains Insurance Group		347		105
Wilmington Trust		4,892		43
WR Berkley		5,014		132
XL Group, Cl A (A)		14,100		252
Zions Bancorporation (A)		7,602		140

				73,894


Description	Shares		Market Value ($ Thousands)

Health Care — 11.5%
Abbott Laboratories		64,576	$	3,186
Abraxis Bioscience *		340		25
Aetna		18,234		487
Alcon		3,000		487
Alere *(A)		3,600		101
Alexion Pharmaceuticals *		3,600		203
Allergan		12,996		798
Allscripts-Misys Healthcare Solutions *(A)		5,600		93
AmerisourceBergen		11,824		323
Amgen *		39,667		2,025
Amylin Pharmaceuticals *(A)		5,400		111
Baxter International		24,475		1,042
Beckman Coulter		3,212		147
Becton Dickinson		10,044		685
Biogen Idec *		10,400		560
BioMarin Pharmaceutical *(A)		5,200		105
Bio-Rad Laboratories, Cl A *		1,000		83
Boston Scientific *(A)		63,739		331
Bristol-Myers Squibb		71,061		1,853
Brookdale Senior Living *		2,500		34
C.R. Bard		3,985		306
Cardinal Health		15,329		459
CareFusion *		7,264		157
Celgene *		18,892		973
Cephalon *(A)		3,348		190
Cerner *(A)		3,074		224
Charles River Laboratories International *(A)		2,843		80
CIGNA		12,055		388
Community Health Systems *		4,062		106
Cooper (A)		2,304		93
Covance *(A)		3,036		115
Coventry Health Care *		5,462		106
Covidien		20,400		721
DaVita *		4,008		259
Dendreon *(A)		5,900		211
Dentsply International		5,698		158
Edwards Lifesciences *		5,014		289
Eli Lilly (A)		41,961		1,408
Emdeon, Cl A *		1,900		19
Emergency Medical Services, Cl A *		1,000		48
Endo Pharmaceuticals Holdings *		4,497		122
Express Scripts *		22,444		956
Forest Laboratories *		11,273		308
Gen-Probe *		2,227		100
Genzyme *(A)		11,353		796
Gilead Sciences *		35,050		1,117
Health Management Associates, Cl A *(A)		12,422		78
Health Net *		4,702		112
Henry Schein *		4,184		221
Hill-Rom Holdings		2,724		87
Hologic *		12,000		170
Hospira *		6,981		358
Human Genome Sciences *		7,600		221
Humana *		7,075		338
Idexx Laboratories *(A)		2,252		124
Illumina *(A)		4,800		206
Intuitive Surgical *(A)		1,600		424


Description	Shares		Market Value ($ Thousands)

Johnson & Johnson		115,609	$	6,592
Kinetic Concepts *		3,113		99
King Pharmaceuticals *		12,426		108
Laboratory Corp of America Holdings *		4,411		320
Life Technologies *		7,670		328
LifePoint Hospitals *		2,376		72
Lincare Holdings (A)		4,540		105
McKesson		11,566		671
Medco Health Solutions *		18,620		810
Mednax *		2,000		93
Medtronic		45,485		1,432
Merck		130,443		4,587
Mettler Toledo International *		1,536		170
Mylan Laboratories *(A)		11,819		203
Myriad Genetics *		4,500		70
Omnicare		5,431		104
Patterson		4,783		121
PerkinElmer		4,334		91
Perrigo		3,200		182
Pfizer		338,180		5,387
Pharmaceutical Product Development		4,084		94
Quest Diagnostics		6,344		276
Regeneron Pharmaceuticals *		2,300		51
ResMed *		6,710		202
St. Jude Medical *		13,846		479
Stryker		13,604		588
SXC Health Solutions *		1,100		86
Talecris Biotherapeutics Holdings *		2,700		59
Techne		1,541		89
Teleflex (A)		1,340		65
Tenet Healthcare *(A)		23,094		91
Thermo Fisher Scientific *		16,725		705
Thoratec *(A)		2,100		68
United Therapeutics *		2,200		102
UnitedHealth Group		46,829		1,485
Universal Health Services, Cl B		3,476		109
Valeant Pharmaceuticals International *(A)		2,700		156
Varian Medical Systems *(A)		5,230		278
VCA Antech *		3,539		70
Vertex Pharmaceuticals *(A)		7,900		263
Warner Chilcott, Cl A *		3,300		94
Waters *		3,872		234
Watson Pharmaceuticals *		4,918		212
WellPoint *		17,431		866
Zimmer Holdings *		8,525		402

				53,396


Industrials — 10.5%
3M (A)		29,546		2,321
Aecom Technology *		4,800		108
AGCO *(A)		3,400		112
Alexander & Baldwin (A)		1,782		60
Alliant Techsystems *(A)		1,636		108
Ametek		4,147		178
AMR *(A)		12,086		74
Armstrong World Industries *		700		28
Avery Dennison		4,210		137
Babcock & Wilcox *		4,750		106
BE Aerospace *		3,400		92


Description	Shares		Market Value ($ Thousands)

Boeing		31,391	$	1,919
Bucyrus International, Cl A		3,000		173
C.H. Robinson Worldwide (A)		7,086		461
Carlisle		2,666		75
Caterpillar		25,988		1,693
Chicago Bridge & Iron *		3,700		80
Cintas (A)		6,157		157
CNH Global *		1,600		45
Continental Airlines, Cl B *(A)		5,100		114
Con-way (A)		2,223		58
Cooper Industries, Cl A		6,900		290
Copa Holdings, Cl A		1,600		78
Copart *		3,213		106
Corrections of America *(A)		5,600		125
Covanta Holding		6,200		89
Crane		2,400		81
CSX		15,932		795
Cummins (A)		8,512		633
Danaher		21,702		788
Deere		17,418		1,102
Delta Air Lines *(A)		34,500		361
Donaldson		2,972		125
Dover		7,857		352
Dun & Bradstreet		1,956		129
Eaton		7,126		495
Emerson Electric		31,120		1,452
Equifax		4,856		143
Expeditors International Washington (A)		8,848		350
Fastenal (A)		5,862		265
FedEx		12,844		1,002
Flowserve		2,200		197
Fluor		7,508		335
FTI Consulting *		2,400		79
Gardner Denver		2,300		110
GATX (A)		2,100		57
General Cable *		2,500		56
General Dynamics		14,172		792
General Electric		447,323		6,477
Goodrich		4,992		342
Graco		2,624		73
Harsco		3,470		69
Hertz Global Holdings *(A)		9,400		80
Honeywell International		31,590		1,235
Hubbell, Cl B		2,892		130
IDEX		3,593		107
IHS, Cl A *		2,200		136
Illinois Tool Works		17,980		742
Ingersoll-Rand		13,400		436
Iron Mountain		7,363		149
ITT		7,702		327
Jacobs Engineering Group *		5,102		177
JB Hunt Transport Services (A)		3,972		130
Joy Global		4,633		263
Kansas City Southern *		4,500		151
KAR Auction Services *		2,100		25
KBR		7,284		169
Kennametal		2,700		68
Kirby *		2,300		85
L-3 Communications Holdings, Cl 3		4,977		331
Landstar System (A)		2,165		78
Lennox International		2,300		97


Description	Shares		Market Value ($ Thousands)

Lincoln Electric Holdings		1,500	$	74
Lockheed Martin		12,629		878
Manitowoc		5,700		52
Manpower		3,684		157
Masco (A)		14,409		151
MSC Industrial Direct, Cl A		2,120		94
Navistar International *		3,000		126
Norfolk Southern		15,133		812
Northrop Grumman		12,878		697
Oshkosh Truck *		4,259		106
Owens Corning *		5,100		139
Paccar (A)		15,570		638
Pall		4,545		155
Parker Hannifin		6,804		403
Pentair		3,861		116
Pitney Bowes (A)		8,385		161
Precision Castparts		5,746		650
Quanta Services *		9,200		165
Raytheon		15,468		679
Regal-Beloit		1,400		77
Republic Services, Cl A		13,642		402
Robert Half International (A)		6,876		148
Rockwell Automation		5,804		297
Rockwell Collins		6,562		354
Roper Industries		4,200		244
RR Donnelley & Sons		9,677		147
Ryder System		2,106		81
Shaw Group *		3,300		107
Snap-On		2,091		86
Southwest Airlines		31,220		345
Spirit Aerosystems Holdings, Cl A *		4,700		91
SPX		2,211		124
Stericycle *(A)		3,826		251
Terex *		3,548		65
Textron (A)		11,222		192
Thomas & Betts *		1,967		73
Timken		3,060		100
Toro (A)		1,560		78
Towers Watson, Cl A		1,500		68
TransDigm Group		2,000		116
Trinity Industries (A)		3,500		60
Tyco International (A)		21,600		805
UAL *(A)		6,700		142
Union Pacific		20,916		1,526
United Parcel Service, Cl B		29,541		1,885
United Technologies		39,266		2,560
URS *		3,300		118
USG *(A)		2,298		28
UTi Worldwide		5,100		71
Valmont Industries		1,000		67
Verisk Analytics, Cl A *		4,500		125
WABCO Holdings *		2,424		86
Wabtec		2,400		102
Waste Connections *		2,900		110
Waste Management (A)		20,594		681
WESCO International *		2,000		65
WW Grainger		2,681		284

				48,777


Information Technology — 17.5%
Accenture, Cl A		25,100		919
Activision Blizzard		21,756		233


Description	Shares		Market Value ($ Thousands)

Adobe Systems *		22,402	$	622
Advanced Micro Devices *(A)		26,734		150
Agilent Technologies *		14,664		396
Akamai Technologies *		7,218		332
Alliance Data Systems *(A)		2,012		113
Altera (A)		12,573		310
Amdocs *		8,900		233
Amphenol, Cl A		7,592		309
Analog Devices		12,512		349
Ansys *		4,100		159
AOL *		5,034		112
Apple *		38,123		9,278
Applied Materials		57,355		596
Arrow Electronics *		4,589		105
Atheros Communications *		2,600		64
Atmel *		18,900		110
Autodesk *		9,937		276
Automatic Data Processing		21,492		830
Avago Technologies *		4,000		81
Avnet *		6,110		140
AVX		1,424		18
BMC Software *		7,689		277
Broadcom, Cl A		21,168		634
Broadridge Financial Solutions		5,173		110
Brocade Communications Systems *		22,200		111
CA		16,238		292
Cadence Design Systems *		13,063		89
Ciena *(A)		4,114		51
Cisco Systems *		239,427		4,801
Citrix Systems *		7,787		451
Cognizant Technology Solutions, Cl A *		12,788		737
CommScope *		3,700		69
Computer Sciences		6,464		257
Compuware *		11,951		86
Convergys *		5,569		56
CoreLogic		4,584		79
Corning		64,158		1,006
Cree *(A)		4,422		237
Cypress Semiconductor *(A)		7,200		76
Dell *		69,643		820
Diebold		2,729		71
Dolby Laboratories, Cl A *(A)		2,143		119
DST Systems		1,695		69
eBay *		47,111		1,095
EchoStar, Cl A *		2,132		40
Electronic Arts *		13,465		205
EMC *		84,964		1,550
Equinix *(A)		2,000		182
F5 Networks *		3,238		283
Factset Research Systems (A)		1,800		132
Fairchild Semiconductor International, Cl A *		6,600		51
Fidelity National Information Services		10,990		284
First Solar *(A)		2,200		281
Fiserv *		6,369		319
FLIR Systems *		6,800		171
Gartner *		2,600		75
Genpact *		3,100		43
Global Payments		3,734		141
Google, Cl A *		10,144		4,565


Description	Shares		Market Value ($ Thousands)

Harris (A)		5,389	$	227
Hewitt Associates, Cl A *		3,863		187
Hewlett-Packard		97,601		3,756
IAC *		3,532		88
Informatica *(A)		3,500		113
Ingram Micro, Cl A *		7,023		106
Intel		231,558		4,103
International Business Machines		53,698		6,617
International Rectifier *		3,355		62
Intersil, Cl A (A)		5,361		54
Intuit *		11,986		513
Itron *		1,900		103
Jabil Circuit		6,674		68
JDS Uniphase *		10,640		98
Juniper Networks *(A)		22,325		607
Kla-Tencor		6,509		182
Lam Research *		4,991		180
Lender Processing Services		3,614		106
Lexmark International, Cl A *		2,986		104
Linear Technology (A)		9,257		265
LSI *		24,748		100
Marvell Technology Group *		23,700		378
Mastercard, Cl A (A)		4,000		793
Maxim Integrated Products (A)		13,400		213
McAfee *		6,373		300
MEMC Electronic Materials *(A)		10,338		106
Microchip Technology (A)		7,022		194
Micron Technology *(A)		37,816		244
Micros Systems *		3,600		137
Microsoft		320,900		7,535
Molex (A)		6,370		112
Monster Worldwide *(A)		5,218		58
Motorola *		98,934		745
National Instruments		2,536		73
National Semiconductor		9,056		114
NCR *		6,689		86
NetApp *		14,655		593
NeuStar, Cl A *		3,900		86
Novell *		15,326		86
Novellus Systems *(A)		4,377		102
Nuance Communications *		9,100		134
Nvidia *(A)		26,056		243
ON Semiconductor *(A)		19,200		119
Oracle		158,367		3,465
Paychex (A)		13,507		336
PMC - Sierra *		12,100		84
Polycom *		3,300		94
QLogic *		3,880		58
Qualcomm		68,050		2,607
Rambus *		4,500		80
Red Hat *(A)		7,327		253
Rovi *		3,800		165
SAIC *(A)		12,900		192
Salesforce.com *(A)		4,838		532
SanDisk *(A)		9,743		324
Seagate Technology *		21,600		219
Silicon Laboratories *(A)		2,200		84
Skyworks Solutions *		6,800		121
Solera Holdings		2,600		103
SunPower, Cl A *		4,400		48
Symantec *		34,248		467
Synopsys *		6,882		157
Tech Data *		2,250		81


Description	Shares		Market Value ($ Thousands)

Tellabs (A)		17,289	$	123
Teradata *		6,889		225
Teradyne *(A)		8,863		80
Texas Instruments		50,308		1,159
Total System Services (A)		5,591		79
Trimble Navigation *(A)		4,814		135
Varian Semiconductor Equipment Associates *		3,200		79
VeriSign *(A)		7,485		218
Visa, Cl A		19,200		1,324
Vishay Intertechnology *		9,550		73
Vishay Precision Group *		682		10
VistaPrint *(A)		1,600		49
VMware, Cl A *(A)		3,100		244
WebMD Health, Cl A *(A)		2,422		123
Western Digital *		9,530		230
Western Union		28,728		451
Xerox		58,996		498
Xilinx (A)		11,457		277
Yahoo! *		56,481		739
Zebra Technologies, Cl A *		3,025		86

				81,412


Materials — 4.0%
Air Products & Chemicals		8,594		636
Airgas		4,015		264
AK Steel Holding		5,300		68
Albemarle		3,544		142
Alcoa (A)		43,202		441
Allegheny Technologies (A)		3,897		159
Aptargroup		2,600		108
Ashland		3,476		162
Ball		3,775		212
Bemis		4,774		138
Cabot		3,373		96
Carpenter Technology		2,300		71
Celanese, Cl A		6,283		168
CF Industries Holdings		2,866		265
Cliffs Natural Resources		5,800		355
Commercial Metals (A)		4,900		64
Compass Minerals International (A)		1,600		115
Crown Holdings *		7,451		208
Cytec Industries		2,381		113
Domtar		1,500		90
Dow Chemical (A)		47,570		1,159
E.I. Du Pont de Nemours (A)		37,392		1,524
Eagle Materials		2,000		46
Eastman Chemical		2,942		181
Ecolab		9,891		469
FMC		2,860		178
Freeport-McMoRan Copper & Gold, Cl B		19,412		1,397
Greif, Cl A		1,500		85
Huntsman		8,329		76
International Flavors & Fragrances		3,191		146
International Paper		18,755		384
Intrepid Potash *(A)		1,500		34
Lubrizol		2,834		264
Martin Marietta Materials(A)		1,963		144
MeadWestvaco		6,658		145
Monsanto		22,450		1,182


Description	Shares		Market Value ($ Thousands)

Mosaic		6,578	$	386
Nalco Holding		5,017		114
Newmont Mining		19,533		1,198
Nucor (A)		13,590		500
Owens-Illinois *(A)		6,491		163
Packaging of America		4,599		102
Pactiv *		6,183		198
PPG Industries		7,023		462
Praxair (A)		12,525		1,078
Reliance Steel & Aluminum		2,900		108
Royal Gold (A)		2,200		108
RPM International		6,269		106
Schnitzer Steel Industries, Cl A		1,000		44
Scotts Miracle-Gro, Cl A		1,606		76
Sealed Air		6,068		124
Sherwin-Williams (A)		3,737		263
Sigma-Aldrich		5,048		268
Sonoco Products		3,946		124
Southern Copper		6,448		195
Steel Dynamics		10,100		138
Temple-Inland		5,375		86
Titanium Metals *(A)		3,358		61
United States Steel (A)		5,583		237
Valspar		4,764		144
Vulcan Materials (A)		5,757		211
Walter Industries		2,400		173
Weyerhaeuser (A)		22,378		351

				18,307


Telecommunication Services — 3.1%
American Tower, Cl A *		17,222		807
AT&T		247,633		6,693
CenturyLink (A)		12,675		458
Clearwire, Cl A *(A)		8,300		53
Crown Castle International *		12,396		510
Frontier Communications (A)		42,295		327
Leap Wireless International *		2,900		30
Level 3 Communications *(A)		84,300		87
MetroPCS Communications *(A)		11,800		105
NII Holdings *(A)		6,720		244
Qwest Communications International (A)		73,796		417
SBA Communications, Cl A *(A)		5,300		190
Sprint Nextel *		119,044		486
Telephone & Data Systems		4,102		118
tw telecom, Cl A *		7,400		130
US Cellular *		831		35
Verizon Communications		118,315		3,491
Windstream		20,347		235

				14,416


Utilities — 3.9%
AES *		27,724		284
AGL Resources		3,047		112
Allegheny Energy		7,566		171
Alliant Energy		5,176		181
Ameren		9,790		275
American Electric Power		20,450		724
American Water Works		7,000		158
Aqua America (A)		4,977		99
Atmos Energy		3,491		99
Calpine *		14,900		189


Description	Shares/Face Amount ($ Thousands)		Market Value ($ Thousands)

Centerpoint Energy		16,115	$	238
CMS Energy (A)		9,142		160
Consolidated Edison (A)		11,916		566
Constellation Energy Group		8,358		245
Dominion Resources (A)		24,412		1,044
DPL		5,446		138
DTE Energy		7,264		340
Duke Energy		53,719		923
Edison International		13,979		472
Energen		2,737		117
Entergy		7,698		607
Exelon		27,129		1,105
FirstEnergy (A)		12,881		470
Great Plains Energy		6,471		120
Hawaiian Electric Industries (A)		3,746		90
Integrys Energy Group (A)		2,802		136
ITC Holdings		2,400		139
MDU Resources Group		8,621		162
Mirant *		6,461		63
National Fuel Gas		3,289		141
NextEra Energy		16,973		912
NiSource		12,821		222
Northeast Utilities		7,907		229
NRG Energy *(A)		10,500		213
NSTAR (A)		3,928		150
NV Energy		10,800		138
OGE Energy		4,568		178
Oneok		4,029		173
Ormat Technologies (A)		1,000		28
Pepco Holdings		10,044		180
PG&E		15,818		740
Pinnacle West Capital		4,792		191
PPL		20,726		563
Progress Energy		12,161		522
Public Service Enterprise Group		21,552		689
Questar		7,346		119
RRI Energy *(A)		14,659		51
SCANA		4,420		173
Sempra Energy		10,523		536
Southern		33,903		1,244
TECO Energy (A)		8,400		142
UGI		4,850		134
Vectren		3,491		86
Westar Energy		5,300		127
Wisconsin Energy		4,849		270
Xcel Energy		19,281		430
				18,008
Total Common Stock (Cost $372,158) ($ Thousands)				453,138


U.S. TREASURY OBLIGATIONS (C)(D) —0.3%
U.S. Treasury Bills
0.115%, 10/14/10	$	828		828
0.162%, 09/23/10		400		400
Total U.S. Treasury Obligations (Cost $1,228) ($ Thousands)				1,228


Description	Shares		Market Value ($ Thousands)

AFFILIATED PARTNERSHIP —12.9%
SEI Liquidity Fund, L.P.,
0.250%**†(E)		60,418,561	$	59,697

Total Affiliated Partnership (Cost $60,418) ($ Thousands)				59,697


CASH EQUIVALENT — 1.9%
SEI Daily Income Trust, Prime Obligation Fund, Cl A,
0.200%**†		8,923,868		8,924
Total Cash Equivalent (Cost $8,924) ($ Thousands)				8,924

Total Investments — 112.7% (Cost $442,728) ($ Thousands)††			$	522,987

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)		Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
S&P 500 Index E-MINI		210		Sep-2010	$	(46	)
S&P Mid 400 Index E-MINI		16		Sep-2010		12
					$	(34	)

Percentages are based on a Net Assets of $464,106 ($ Thousands).

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $442,728 ($ Thousands), and the unrealized appreciation and depreciation were $112,491 ($ Thousands) and $(32,232) ($ Thousands), respectively.

(A)

This security or a partial position of this security is on loan at August 31, 2010. The total value of securities on loan at August 31, 2010 was $58,933 ($ Thousands).

(B)

The Fund may purchase securities of certain companies with which it is affiliated to the extend these companies are represented in its benchmark index.

(C)

Zero coupon security. The rate reported is the effective yield at time of purchase.

(D)

Security, or a portion thereof, has been pledged as collateral on open futures contracts.

(E)

This security was purchased with cash collateral held from securities on loan. The total value of such securities as of August 31, 2010 was $59,697 ($ Thousands).

Cl — Class

L.P. — Limited Partnership

REIT — Real Estate Investment Trust

S&P — Standard & Poor’s

Ser — Series

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1			Level 2		Level 3		Total
Common Stock	$	453,138		$	—	$	—	$	453,138
U.S. Treasury Obligations		—			1,228		—		1,228
Affiliated Partnership		—			59,697		—		59,697
Cash Equivalent		8,924			—		—		8,924

Total Investments in Securities	$	462,062		$	60,925	$	—	$	522,987


Other Financial Instruments	Level 1			Level 2		Level 3		Total
Futures Contracts *	$	(34	)	$	—	$	—	$	(34	)

Total Other Financial Instruments	$	(34	)	$	—	$	—	$	(34	)

Futures contracts are valued at the unrealized depreciation on the instrument.

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

Amounts designated as “—” are $0 or have been rounded to $0.


Description	Shares		Market Value ($ Thousands)

COMMON STOCK — 96.5%

Consumer Discretionary — 12.8%
Aaron’s		30,400	$	495
Abercrombie & Fitch, Cl A (A)		14,628		506
American Eagle Outfitters		40,100		507
American Greetings, Cl A (A)		105,000		2,026
American Public Education *(A)		141,467		3,516
America’s Car-Mart *		28,900		723
Amerigon *(A)		57,516		595
Ameristar Casinos (A)		53,900		885
AnnTaylor Stores *		75,062		1,151
Arctic Cat *(A)		54,500		381
Asbury Automotive Group *		3,700		44
Ascent Media, Cl A *		2,100		56
Barnes & Noble		7,600		115
Beazer Homes USA *(A)		79,300		274
Belo, Cl A *		205,357		1,074
Big Lots *(A)		31,100		972
Bluegreen *		7,525		19
Blyth (A)		16,731		638
Bob Evans Farms		24,900		636
Boyd Gaming *(A)		36,700		255
Bridgepoint Education *(A)		2,100		27
Brinker International		54,300		855
Brown Shoe		93,700		986
Brunswick (A)		99,600		1,266
Buckle		10,500		251
Buffalo Wild Wings *		41,128		1,720
Cabela’s *(A)		161,250		2,512
California Pizza Kitchen *		48,200		740
Callaway Golf (A)		103,268		645
Capella Education *(A)		27,148		1,699
Career Education *(A)		88,480		1,551
Carter’s *		50,500		1,128
Casual Male Retail Group *		173,800		558
Cato, Cl A (A)		168,937		3,877
Century Casinos *		9,107		18
Cheesecake Factory *(A)		13,100		293
Chico’s FAS		18,300		151
Childrens Place Retail Stores *(A)		5,600		244
Christopher & Banks		79,929		515
Cinemark Holdings		21,000		307
Citi Trends *		1,400		32
Collective Brands *(A)		19,300		250
Cooper Tire & Rubber (A)		136,881		2,216
Core-Mark Holding *		1,700		44
Corinthian Colleges *(A)		97,300		475
Cracker Barrel Old Country Store (A)		45,424		2,026
CROCS *		155,725		1,947
CSS Industries		17,600		272
Dana Holdings *		90,401		927
Deckers Outdoor *(A)		10,200		443
Denny’s * (A)		71,300		170
Dick’s Sporting Goods *(A)		55,867		1,367
Dillard’s, Cl A (A)		37,000		809
DineEquity *		9,900		316
Domino’s Pizza *		34,700		445
Dress Barn *		12,100		252
Drew Industries *		7,300		140
DSW, Cl A * (A)		95,000		2,256
Eastman Kodak *(A)		433,700		1,513


Description	Shares		Market Value ($ Thousands)

Entercom Communications, Cl A *(A)		18,400	$	101
Ethan Allen Interiors (A)		44,693		603
EW Scripps, Cl A *		32,400		220
Exide Technologies *		75,200		315
Finish Line, Cl A (A)		195,574		2,582
Foot Locker		120,400		1,413
Fred’s, Cl A (A)		81,900		903
Furniture Brands International *		34,408		160
Gaylord Entertainment *(A)		9,100		238
Genesco *		3,700		93
Gordmans Stores *		22,035		236
Grand Canyon Education *(A)		69,453		1,187
Gymboree *(A)		4,900		184
Harte-Hanks (A)		45,000		460
Helen of Troy *		20,800		463
hhgregg *(A)		30,510		577
Hibbett Sports *		43,092		999
Hillenbrand		40,035		762
HOT Topic		271,900		1,411
HSN *(A)		16,100		423
Iconix Brand Group *		221,885		3,381
International Speedway, Cl A		24,285		556
J Crew Group *		60,905		1,857
Jack in the Box *(A)		74,400		1,501
Jackson Hewitt Tax Service *(A)		102,900		80
Jakks Pacific *(A)		40,500		603
Jarden		87,865		2,367
Jo-Ann Stores *		31,604		1,285
Jones Apparel Group		82,800		1,274
Jos. A. Bank Clothiers *(A)		10,950		400
Journal Communications, Cl A *		152,400		603
K12 *(A)		71,013		1,643
Kirkland’s *		71,400		815
Lakeland Industries *		73,784		697
La-Z-Boy, Cl Z *(A)		48,000		322
Leggett & Platt		14,700		282
Lennar, Cl A		36,300		478
Libbey *		80,400		902
Liberty Media - Starz, Ser A *		2,800		167
Life Time Fitness *(A)		106,148		3,606
Lifetime Brands *		25,600		349
Lincoln Educational Services *		79,700		870
Live Nation *		167,447		1,447
Liz Claiborne *(A)		90,300		379
Matthews International, Cl A		62,100		1,956
MDC Partners, Cl A		295,900		3,456
Men’s Wearhouse (A)		30,966		597
Meredith (A)		72,100		2,110
Meritage Homes *		76,895		1,373
Monro Muffler		7,300		306
Morningstar *		6,800		275
Movado Group *		2,700		27
National CineMedia		114,122		1,813
New Frontier Media *		229,662		427
NutriSystem		22,600		397
NVR *		2,000		1,208
O’Charleys *		27,900		154
OfficeMax *		34,060		332
Oxford Industries		28,000		552
Papa John’s International *		12,600		300
Peet’s Coffee & Tea *(A)		18,189		624
Penske Auto Group *		23,500		282


Description	Shares		Market Value ($ Thousands)
PEP Boys-Manny Moe & Jack		5,900	$	53
PetSmart		50,455		1,609
PF Chang’s China Bistro (A)		33,950		1,453
Pinnacle Entertainment *		139,457		1,367
Polaris Industries		14,900		795
Pool		20,100		371
Pre-Paid Legal Services *(A)		18,700		1,022
Princeton Review *		21,119		40
Quiksilver *		20,400		73
RadioShack (A)		66,100		1,222
RC2 *		3,800		70
Red Robin Gourmet Burgers *(A)		44,100		817
Regal Entertainment Group, Cl A		64,400		793
Regis (A)		121,151		2,032
Rent-A-Center, Cl A (A)		142,800		2,867
Retail Ventures *		20,400		172
Ruby Tuesday *		73,100		673
Ryland Group (A)		29,300		472
Saks *		328,150		2,589
Scholastic (A)		106,041		2,485
Scientific Games, Cl A *		31,700		324
Sealy *		45,100		107
Service International		44,099		339
Shoe Carnival *		23,691		392
Shutterfly *(A)		37,600		836
Sinclair Broadcast Group, Cl A *		39,677		237
Skechers U.S.A., Cl A *		19,700		502
Sotheby’s		36,493		971
Spartan Motors		23,200		90
Spectrum Group International *		9,759		20
Stage Stores		140,400		1,567
Steiner Leisure *(A)		57,300		2,040
Stewart Enterprises, Cl A		93,104		443
Stoneridge *		24,200		209
Sturm Ruger (A)		117,000		1,506
Superior Industries International		10,600		155
SuperMedia *		4,400		40
Systemax		12,200		144
Talbots *		384,095		3,833
Tempur-Pedic International *		69,314		1,858
Tenneco *		98,968		2,446
Tesla Motors *(A)		41,400		813
Texas Roadhouse, Cl A *		22,300		296
Timberland, Cl A *		72,300		1,162
Tractor Supply (A)		29,595		2,012
True Religion Apparel *		69,410		1,220
Tupperware Brands		8,300		327
Ulta Salon Cosmetics & Fragrance *		9,100		206
Under Armour, Cl A *		29,850		1,071
Universal Technical Institute		20,400		315
Valassis Communications *		9,400		276
Volcom *		14,700		229
Warnaco Group *		1,800		75
Wendy’s, Cl A		192,817		750
Winnebago Industries *		15,300		131
Wolverine World Wide		26,400		667
World Wrestling Entertainment,
Cl A (A)		26,600		373
Zumiez *		123,550		1,837

				156,288


Description	Shares		Market Value ($ Thousands)

Consumer Staples — 2.8%
American Oriental
Bioengineering *(A)		50,200	$	114
Andersons (A)		55,800		1,999
BJ’s Wholesale Club *		7,406		311
Cal-Maine Foods (A)		39,400		1,169
Casey’s General Stores		32,800		1,234
Central Garden and Pet *		35,415		327
Central Garden and Pet, Cl A *		34,766		325
China-Biotics *(A)		78,100		1,008
Chiquita Brands International *(A)		301,796		3,791
Corn Products International		19,797		676
Cosan Industria e Comercio (Brazil)		83,300		1,076
Darling International *		32,400		244
Dean Foods *(A)		100,197		1,025
Del Monte Foods		259,567		3,385
Dole Food *(A)		42,264		365
Elizabeth Arden *		12,500		205
Flowers Foods		15,500		401
Fresh Del Monte Produce *(A)		70,200		1,542
Herbalife		11,729		652
Ingles Markets, Cl A		25,700		380
Kulim Malaysia		446,900		1,203
Lancaster Colony (A)		18,900		861
Mead Johnson Nutrition, Cl A		4,500		235
Nash Finch (A)		19,200		754
Pantry *		55,123		1,037
Prestige Brands Holdings *		122,505		906
Pricesmart		9,200		237
Ruddick (A)		68,796		2,227
Sanderson Farms (A)		19,700		847
Saskatchewan Wheat Pool, Cl Common Subscription *		139,100		1,096
Seneca Foods, Cl A *		4,200		105
United Natural Foods *		15,400		535
Universal		66,000		2,354
Vector Group		32,781		624
Village Super Market, Cl A		6,600		171
Weis Markets (A)		13,300		468
Winn-Dixie Stores *		108,762		714

				34,603


Energy — 5.9%
Allis-Chalmers Energy *(A)		115,188		446
Alon USA Energy (A)		26,200		142
Approach Resources *		145,000		1,261
Atwood Oceanics *		50,500		1,267
Berry Petroleum, Cl A (A)		94,648		2,570
BPZ Resources *(A)		237,600		939
Brigham Exploration *		44,800		686
Cal Dive International *(A)		370,037		1,691
CARBO Ceramics		9,800		742
Clayton Williams Energy *(A)		800		37
Cloud Peak Energy *(A)		15,800		250
Complete Production Services *		38,200		674
Comstock Resources *(A)		266,153		5,794
CVR Energy *		172,673		1,229
Delek US Holdings		20,134		135
DHT Maritime (A)		41,900		162


Description	Shares		Market Value ($ Thousands)
Dresser-Rand Group *		35,260	$	1,252
Energy Partners *		11,600		127
Energy XXI Bermuda *(A)		46,445		928
Exterran Holdings *		28,357		628
Forest Oil *(A)		61,600		1,609
Frontier Oil (A)		43,602		511
Frontline		31,000		821
GeoMet *		214,366		197
Global Geophysical Services *		27,400		162
Global Industries *(A)		27,500		126
GMX Resources *		74,000		315
Goodrich Petroleum *(A)		427,814		5,681
Gulfmark Offshore, Cl A *(A)		16,300		439
Helix Energy Solutions Group *		22,800		207
Holly (A)		60,800		1,581
Hornbeck Offshore Services *(A)		32,100		507
Houston American Energy		6,800		61
Key Energy Services *		87,350		700
Kinder Morgan Escrow *(I)		58,213		—
Knightsbridge Tankers (A)		48,100		842
L&L Energy *		15,000		126
Matrix Service *		75,200		640
Newpark Resources *		30,300		265
Nordic American Tanker Shipping		39,100		1,035
Northern Oil And Gas *(A)		74,800		1,050
Oasis Petroleum *		27,949		460
Oilsands Quest *(A)		1,828,200		896
Oilsands Quest Private Placement *		144,700		71
Overseas Shipholding Group (A)		47,300		1,523
Parker Drilling *(A)		213,300		774
Patterson-UTI Energy (A)		118,600		1,751
Penn Virginia		5,800		81
PetroHawk Energy *		270,882		4,096
Petroquest Energy *(A)		51,300		307
Quicksilver Resources *		222,809		2,718
Scorpio Tankers *		317,002		3,430
SEACOR Holdings *(A)		9,400		739
Seahawk Drilling *(A)		26,200		189
Ship Finance International (A)		55,300		968
StealthGas *		112,100		527
Stone Energy *		38,300		433
Superior Energy Services *		65,100		1,400
Swift Energy *(A)		75,197		2,027
Teekay		32,400		788
Tesoro (A)		76,500		859
Tetra Technologies *		47,100		395
Tidewater		23,016		922
USEC *(A)		338,200		1,590
Vaalco Energy *(A)		167,800		955
Vantage Drilling *(A)		830,568		1,121
W&T Offshore (A)		151,000		1,365
Willbros Group *(A)		105,159		823
World Fuel Services		125,731		3,211

				72,254


Financials — 20.3%
Acadia Realty Trust ‡		8,600		154
Advance America Cash Advance Centers		114,900		385
Affiliated Managers Group *		44,766		2,874
Alexander’s ‡		500		152


Description	Shares		Market Value ($ Thousands)
Allied World Assurance Holdings		27,100	$	1,365
Alterra Capital Holdings (A)		131,200		2,432
AMB Property ‡(A)		70,450		1,676
American Campus Communities ‡(A)		52,400		1,561
American Capital *(A)		126,217		640
American Capital Agency ‡(A)		10,600		289
American Equity Investment Life Holding		61,400		583
American Physicians Capital (A)		34,299		1,418
Amtrust Financial Services (A)		56,600		773
Anworth Mortgage Asset ‡(A)		250,009		1,703
Apartment Investment &
Management, Cl A ‡(A)		80,764		1,651
Apollo Investments *		78,338		750
Ares Capital		4,550		68
Argo Group International Holdings		24,900		759
Ashford Hospitality Trust ‡*		92,500		743
Aspen Insurance Holdings		102,900		2,922
Associated Banc (A)		93,300		1,125
Associated Estates Realty ‡		3,200		43
Assured Guaranty		47,100		728
Astoria Financial (A)		93,200		1,124
AvalonBay Communities ‡		13,583		1,429
Banco Latinoamericano de Comercio Exterior, Cl E		74,200		942
Bancorp Rhode Island		39,177		1,113
Bancorpsouth (A)		93,730		1,195
Bank Mutual		38,800		197
Bank of Hawaii (A)		24,700		1,103
Bank of the Ozarks (A)		14,800		544
BGC Partners, Cl A		25,200		130
BioMed Realty Trust ‡(A)		43,500		743
BlackRock Kelso Capital (A)		31,300		338
Boston Private Financial Holdings (A)		210,958		1,323
Boston Properties ‡(A)		37,050		3,016
Brandywine Realty Trust ‡		93,200		1,024
Brasil Brokers Participacoes		248,300		934
Brookline Bancorp		9,400		88
Calamos Asset Management, Cl A		21,022		199
Camden National		10,600		323
CapitalSource		588,596		2,972
Capstead Mortgage ‡(A)		250,100		2,906
Cardinal Financial		40,629		373
Cardtronics *		119,018		1,648
Cash Store Financial Services		91,950		1,459
Cathay General Bancorp (A)		121,700		1,167
CBL & Associates Properties ‡(A)		178,997		2,184
Central Pacific Financial *(A)		29,400		46
Chatham Lodging Trust ‡ *		37,500		610
Chemical Financial		25,048		484
Chimera Investment ‡		210,300		827
Citizens Republic Bancorp *(A)		598,000		466
City Holding (A)		12,900		368
CNA Surety *		26,160		438
CNO Financial Group *(A)		269,700		1,276
Cohen & Steers		15,200		324
Colonial Properties Trust ‡		15,600		247
CommonWealth REIT ‡		64,500		1,556
Community Bank System (A)		55,388		1,251


Description	Shares		Market Value ($ Thousands)

Corporate Office Properties
Trust ‡(A)		27,750	$	1,002
Cousins Properties ‡(A)		16,297		107
Cowen Group, Cl A *(A)		358,111		1,228
Crawford, Cl B *		12,824		34
Credit Acceptance *		23,021		1,299
CreXus Investment ‡		70,900		846
CVB Financial (A)		129,412		884
DCT Industrial Trust ‡		44,100		204
Delphi Financial Group, Cl A (A)		84,400		1,882
DiamondRock Hospitality ‡		25,692		225
Dime Community Bancshares (A)		33,400		417
Dollar Financial *(A)		65,700		1,271
Douglas Emmett ‡(A)		45,950		741
Duff & Phelps, Cl A		52,534		525
DuPont Fabros Technology ‡		66,400		1,641
Dynex Capital ‡(A)		34,600		348
East West Bancorp		10,600		155
EastGroup Properties ‡		5,600		197
Eaton Vance		51,380		1,335
Education Realty Trust ‡		78,576		537
EMC Insurance Group		3,371		69
Employers Holdings		66,410		974
Encore Bancshares *		39,100		235
Encore Capital Group *		30,600		606
Endurance Specialty Holdings (A)		60,728		2,237
Entertainment Properties Trust ‡		16,300		702
Equity Lifestyle Properties ‡		5,600		290
Equity One ‡(A)		97,586		1,560
Equity Residential ‡		83,350		3,820
ESSA Bancorp		36,900		413
Essex Property Trust ‡(A)		20,800		2,200
Extra Space Storage ‡(A)		19,200		294
FBL Financial Group, Cl A (A)		36,057		829
FBR Capital Markets *		372,400		1,274
Federal Realty Investment Trust ‡(A)		11,400		904
Federated Investors, Cl B(A)		50,255		1,048
FelCor Lodging Trust ‡*		13,600		54
Financial Engines *		113,902		1,522
First Bancorp *		268,347		98
First Commonwealth Financial		74,404		368
First Financial Bancorp (A)		102,177		1,630
First Financial Bankshares (A)		700		31
First Financial Holdings		18,800		170
First Horizon National *(A)		37,980		383
First Industrial Realty Trust ‡*		62,700		267
First Merchants (A)		9,500		73
First Potomac Realty Trust ‡		9,000		134
FirstMerit (A)		83,610		1,446
Flushing Financial		120,800		1,308
FNB (Pennsylvania)		73,642		572
FPIC Insurance Group *		17,400		528
Franklin Street Properties ‡		14,800		174
GAMCO Investors, Cl A		400		14
General Shopping Brasil (Brazil) *		147,700		795
Getty Realty ‡		23,318		579
GFI Group (A)		103,700		465
Glimcher Realty Trust ‡		14,000		83
Gluskin Sheff + Associates		33,000		520
Government Properties Income Trust ‡		2,700		69
Great American Group *		234,582		164


Description	Shares		Market Value ($ Thousands)

Greenhill		32,204	$	2,268
Grubb & Ellis *(A)		524,460		572
Hancock Holding (A)		48,969		1,333
Harleysville Group		9,000		287
Hatteras Financial ‡(A)		36,100		1,046
HCP ‡(A)		90,050		3,172
Healthcare Realty Trust ‡		45,750		1,071
Hercules Technology Growth Capital		106,465		975
Hersha Hospitality Trust ‡		15,800		75
Highwoods Properties ‡		51,700		1,617
Home Bancshares		48,600		1,047
Home Federal Bancorp		37,800		470
Home Properties ‡		7,300		369
Horace Mann Educators		161,578		2,650
Horizon Financial *(A)		400		—
Hospitality Properties Trust ‡		19,100		373
Host Hotels & Resorts ‡(A)		147,512		1,937
Hudson Valley Holding (A)		41,610		677
Iberiabank (A)		11,541		563
Infinity Property & Casualty (A)		53,559		2,483
Inland Real Estate ‡		80,900		624
International Bancshares (A)		116,100		1,811
Invesco Mortgage Capital ‡		4,300		90
Investment Technology Group *		11,700		155
Investors Real Estate Trust ‡(A)		123,100		1,009
iStar Financial ‡*(A)		19,600		68
Jones Lang LaSalle		25,020		1,889
Kennedy-Wilson Holdings *		42,710		423
Kilroy Realty ‡		9,300		289
Knight Capital Group, Cl A *(A)		142,900		1,698
LaSalle Hotel Properties ‡		13,900		293
Lexington Realty Trust ‡(A)		22,672		151
Life Partners Holdings (A)		3,400		50
LTC Properties ‡		66,793		1,648
Macerich ‡(A)		45,996		1,905
Mack-Cali Realty ‡		41,750		1,288
Maiden Holdings		116,800		856
MainSource Financial Group		22,500		137
MarketAxess Holdings		217,006		3,318
MB Financial		31,200		467
Meadowbrook Insurance Group		328,368		2,821
Medical Properties Trust ‡		251,100		2,471
MF Global Holdings *		240,550		1,588
MFA Mortgage Investments ‡(A)		512,612		3,778
MGIC Investment *		379,205		2,738
Mid-America Apartment Communities ‡(A)		18,671		1,054
Montpelier Re Holdings		131,013		2,075
MSCI, Cl A *		41,727		1,248
National Health Investors ‡		5,900		247
National Penn Bancshares		159,440		926
National Retail Properties ‡(A)		18,100		441
Nationwide Health Properties ‡		8,413		324
Navios Maritime Acquisition *		152,400		869
NBT Bancorp		7,900		161
Nelnet, Cl A		151,300		3,315
Northwest Bancshares		24,800		267
OceanFirst Financial		13,950		158
Old National Bancorp		64,300		593
Omega Healthcare Investors ‡		18,100		388
Oriental Financial Group (A)		33,900		449
PacWest Bancorp (A)		36,820		628


Description	Shares		Market Value ($ Thousands)

Park National (A)		12,200	$	733
Parkway Properties ‡		32,800		480
Pebblebrook Hotel Trust ‡*(A)		37,800		671
Pennsylvania Real Estate Investment Trust ‡(A)		35,200		368
PHH *		88,833		1,644
Phoenix *(A)		353,300		629
Pico Holdings *		46,058		1,286
Piedmont Office Realty Trust, Cl A ‡		21,845		401
Piper Jaffray *		4,500		124
Platinum Underwriters Holdings (A)		133,784		5,380
PMA Capital, Cl A *		9,653		67
Post Properties ‡		9,900		252
Potlatch ‡		30,400		1,018
Presidential Life		13,709		118
PrivateBancorp, Cl A (A)		34,300		359
ProAssurance *		25,199		1,334
ProLogis ‡(A)		78,950		857
Prospect Capital		51,800		476
Prosperity Bancshares		59,900		1,704
Protective Life		41,900		783
Provident Financial Services (A)		88,800		1,019
PS Business Parks ‡		3,900		219
Public Storage ‡(A)		38,024		3,727
Radian Group		194,900		1,234
RAIT Financial Trust ‡*(A)		45,800		62
Ramco-Gershenson Properties ‡		6,800		71
Redwood Trust ‡		62,400		862
Regency Centers ‡(A)		40,500		1,477
Reinsurance Group of America, Cl A		16,412		718
Renasant		47,800		641
Republic Bancorp, Cl A (A)		51,500		1,000
S&T Bancorp (A)		24,200		411
Safeguard Scientifics *		8,700		100
Safety Insurance Group		46,100		1,879
SCBT Financial		20,100		578
SeaBright Insurance Holdings		31,300		221
Selective Insurance Group		49,700		739
Senior Housing Properties Trust ‡		73,350		1,724
Signature Bank NY *(A)		16,940		619
Simmons First National, Cl A		21,780		553
Simon Property Group ‡		41,547		3,758
SL Green Realty ‡(A)		18,850		1,136
South Financial Group *(A)		240,500		68
Sovran Self Storage ‡		22,703		858
Starwood Property Trust ‡		52,700		1,002
Sterling Bancshares (A)		88,900		441
Sterling Financial *(A)		58,500		34
Stewart Information Services (A)		42,500		443
Stifel Financial *		10,093		437
Strategic Hotels & Resorts ‡*		27,400		98
Student Loan		19,100		356
Sun Communities ‡		3,600		103
Sunstone Hotel Investors ‡*(A)		92,325		791
Susquehanna Bancshares (A)		154,155		1,219
SVB Financial Group *		35,925		1,335
SWS Group		65,369		471
Synovus Financial (A)		300,943		620
Tanger Factory Outlet Centers ‡		8,900		411
Taubman Centers ‡(A)		48,050		1,994


Description	Shares		Market Value ($ Thousands)

Texas Capital Bancshares *		34,100	$	522
THL Credit		60,200		698
Titanium Asset Management *(I)(K)		132,700		301
Tompkins Financial		9,800		360
Tower Group		13,900		298
TradeStation Group *		51,200		301
Trustco Bank		195,967		1,043
Trustmark (A)		19,600		374
UMB Financial		6,400		204
Umpqua Holdings		97,188		1,011
United Bankshares (A)		61,742		1,421
United Financial Bancorp		30,700		413
United Fire & Casualty		5,800		117
Unitrin		15,300		364
Universal Health Realty Income Trust ‡		3,000		95
Uranium Participation *		207,400		1,146
Urstadt Biddle Properties, Cl A ‡		4,600		84
U-Store-It Trust ‡		17,500		140
Validus Holdings		59,684		1,520
Value Creation * (I)(K)		119,600		112
Ventas ‡(A)		26,000		1,313
ViewPoint Financial Group		59,220		533
Vornado Realty Trust ‡		12,437		1,008
Waddell & Reed Financial, Cl A		8,179		188
Walter Investment Management ‡		12,000		195
Washington Federal		34,000		485
Washington Real Estate Investment Trust ‡		43,200		1,324
Webster Financial (A)		24,500		394
WesBanco		30,100		459
Westamerica Bancorporation (A)		32,300		1,637
Whitney Holding (A)		128,712		956
Willis Group Holdings		11,362		330
Wilmington Trust		53,400		470
Wilshire Bancorp		14,400		89
World Acceptance *(A)		63,450		2,586
WSFS Financial		23,200		834
Zions Bancorporation (A)		48,653		897

				248,969


Health Care — 10.8%
Abaxis *(A)		156,708		2,830
Acadia Pharmaceuticals *(A)		249,100		252
Accuray *		75,100		494
Achillion Pharmaceuticals *		166,400		436
Acorda Therapeutics *		69,437		2,091
Affymetrix *(A)		32,700		134
Air Methods *		22,700		828
Albany Molecular Research *		53,919		327
Alere *		54,700		1,530
Align Technology *(A)		193,529		3,101
Allscripts-Misys Healthcare Solutions *		9,400		157
Alnylam Pharmaceuticals *(A)		24,316		333
AMAG Pharmaceuticals *		107,886		2,719
Amedisys *(A)		38,876		899
AMERIGROUP *		15,301		565
AMN Healthcare Services *		181,700		809
Amsurg, Cl A *		135,224		2,254
Analogic		9,556		396
Angiodynamics *		18,214		278
Arena Pharmaceuticals *(A)		236,502		1,540


Description	Shares		Market Value ($ Thousands)

Assisted Living Concepts, Cl A *		41,500	$	1,128
athenahealth *		60,685		1,635
Auxilium Pharmaceuticals *(A)		30,029		778
BioMarin Pharmaceutical *		130,820		2,654
Biovail		54,570		1,248
Cadence Pharmaceuticals *(A)		82,967		655
Cambrex *		110,300		460
Cantel Medical		7,800		112
Cardiome Pharma *		176,608		1,063
Catalyst Health Solutions *		38,535		1,545
Cepheid *(A)		51,570		759
Chemed (A)		53,395		2,664
Conceptus *(A)		179,141		2,475
Conmed *		80,714		1,494
Continucare *		8,100		26
Cooper (A)		14,334		578
Cross Country Healthcare *		82,600		612
CryoLife *		23,500		122
Cubist Pharmaceuticals *(A)		125,141		2,757
Durect *		539,103		1,121
Emergent Biosolutions *		6,800		123
Ensign Group (A)		54,600		909
Enzo Biochem *		6,556		23
Enzon Pharmaceuticals *(A)		49,300		506
eResearch Technology *		66,603		493
Exactech *		52,314		759
Exelixis *		12,100		36
Genoptix *		9,935		171
Gen-Probe *		28,977		1,305
Genta *		1		—
Gentiva Health Services *		38,400		789
Haemonetics *		5,200		271
Hanger Orthopedic Group *(A)		9,500		124
Healthsouth *(A)		147,408		2,397
Healthspring *		17,800		370
HeartWare International *		33,595		2,176
Hill-Rom Holdings		27,200		873
Human Genome Sciences *(A)		22,369		651
ICU Medical *		109,000		3,884
Idexx Laboratories *		6,000		332
Immucor *		25,100		442
Impax Laboratories *		15,000		235
Incyte *(A)		228,775		2,864
Inspire Pharmaceuticals *		100,900		489
Integra LifeSciences Holdings *(A)		13,127		457
Invacare (A)		17,300		396
IPC The Hospitalist *		98,910		2,311
Kendle International *		60,917		477
Kensey Nash *(A)		17,100		454
Kindred Healthcare *		117,550		1,381
Kinetic Concepts *(A)		21,300		680
King Pharmaceuticals *		129,100		1,125
LCA-Vision *		19,400		77
LHC Group *(A)		51,100		1,022
LifePoint Hospitals *		8,900		271
Luminex *		58,131		834
Magellan Health Services *		17,900		784
Martek Biosciences *(A)		20,300		443
Masimo		68,735		1,564
Matrixx Initiatives *		8,400		42
MedAssets *		71,770		1,423
Medicines *		176,000		2,024


Description	Shares		Market Value ($ Thousands)

Medicis Pharmaceutical, Cl A		101,000	$	2,778
Mednax *		16,500		765
Meridian Bioscience		52,300		956
Merit Medical Systems *		5,350		84
Metropolitan Health Networks *(A)		99,800		348
Molina Healthcare *(A)		22,200		563
MWI Veterinary Supply *		29,603		1,572
Myriad Genetics *		59,655		934
Neogen *(A)		26,475		774
Nighthawk Radiology Holdings *		17,981		50
NuVasive *(A)		137,495		4,036
Obagi Medical Products *		54,921		577
Omnicell *		150,619		1,680
Onyx Pharmaceuticals *		27,618		665
Owens & Minor		28,900		770
Par Pharmaceutical *		99,670		2,628
Parexel International *		34,000		676
Patterson (A)		15,459		391
PDL BioPharma (A)		577,599		3,269
Perrigo		6,300		359
Pharmaceutical Product Development		25,593		588
PharMerica *(A)		49,100		381
Pozen *		231,233		1,565
Providence Service *		65,700		888
PSS World Medical *(A)		123,073		2,260
Quality Systems		34,763		1,949
Questcor Pharmaceuticals *		93,700		908
Quidel *(A)		116,723		1,411
RehabCare Group *		70,000		1,159
Res-Care *(A)		10,900		135
Rigel Pharmaceuticals *(A)		184,400		1,444
Salix Pharmaceuticals *		16,100		610
Savient Pharmaceuticals *		5,400		78
Sirona Dental Systems *		2,700		85
Skilled Healthcare Group, Cl A *		50,800		171
STERIS		75,600		2,175
Sun Healthcare Group *		67,700		548
Sunrise Senior Living *		21,000		46
Symmetry Medical *		27,400		246
Targacept *		5,200		108
Techne		50,165		2,896
Teleflex		24,807		1,192
Theravance *(A)		100,518		1,215
United Therapeutics *		19,252		890
Universal American Financial		91,100		1,258
Universal Health Services, Cl B		500		16
Viropharma *(A)		89,835		1,127
Volcano *		28,591		632
WellCare Health Plans *		17,600		437
Zoll Medical *		13,900		367

				132,506


Industrials — 16.8%
AAR *		24,600		378
ACCO Brands *		71,200		414
Acuity Brands (A)		78,116		3,026
Administaff		2,000		43
Advisory Board *(A)		16,487		668
Aegean Marine Petroleum Network (A)		363,533		5,413
AerCap Holdings *		281,251		3,021


Description	Shares		Market Value ($ Thousands)

Aerovironment*		89,756	$	2,030
Air Transport Services Group*		66,900		308
Aircastle		94,500		738
Airtran Holdings*		1,023,661		4,617
Alamo Group		21,600		421
Alaska Air Group* (A)		54,500		2,411
Allegiant Travel, Cl A (A)		6,300		237
Alliant Techsystems*		18,555		1,223
Ampco-Pittsburgh		23,100		496
AO Smith		25,700		1,320
APAC Customer Services*		84,000		426
Apogee Enterprises (A)		127,400		1,152
Applied Industrial Technologies (A)		57,500		1,541
Arkansas Best		28,500		588
Armstrong World Industries* (A)		21,900		861
ArvinMeritor*		68,700		898
Astec Industries* (A)		44,600		1,146
ATC Technology*		35,800		864
Atlas Air Worldwide Holdings*		17,300		750
Avis Budget Group* (A)		88,500		807
AZZ		11,300		451
Barnes Group		76,080		1,157
BE Aerospace* (A)		39,543		1,066
Beacon Roofing Supply*		54,100		754
Belden		46,679		1,022
Brady, Cl A		23,005		593
Briggs & Stratton (A)		84,015		1,525
Brink’s		900		17
Carlisle		108,370		3,040
Cascade		12,200		381
Celadon Group*		167,548		1,962
Cenveo*		68,011		373
Ceradyne*		36,400		795
Chart Industries*		21,300		339
Chicago Bridge & Iron*		44,425		967
Clean Harbors*		11,048		668
Columbus McKinnon*		87,416		1,119
Comfort Systems USA (A)		167,100		1,743
Consolidated Graphics*		2,300		91
Continental Airlines, Cl B*		14,321		320
Con-way		14,100		369
Copa Holdings, Cl A		31,720		1,547
Copart*		76,345		2,523
Corporate Executive Board		67,052		1,880
CoStar Group* (A)		103,213		4,260
Courier		15,336		201
CRA International*		103,900		1,652
Crane		4,500		153
Cubic		42,700		1,631
Deluxe		88,600		1,482
Douglas Dynamics* (A)		114,500		1,301
Dycom Industries*		99,592		801
EMCOR Group*		214,718		4,883
Encore Wire		17,100		313
EnerNOC* (A)		93,069		3,032
EnerSys*		24,500		541
Ennis		31,521		485
EnPro Industries* (A)		41,400		1,131
Esterline Technologies*		31,900		1,467
Fastenal		14,600		661
Force Protection*		280,500		1,087
Franklin Electric		8,200		260


Description	Shares		Market Value ($ Thousands)

FreightCar America		4,900	$	114
FTI Consulting* (A)		105,100		3,445
G&K Services, Cl A		47,515		955
Gardner Denver		55,915		2,669
Genco Shipping & Trading* (A)		59,800		899
GenCorp* (A)		21,700		95
Generac Holdings*		67,300		816
Geo Group*		173,650		3,838
GeoEye* (A)		75,337		2,745
Gibraltar Industries*		58,900		447
Graco		5,000		140
GrafTech International*		40,500		569
Graham		50,499		716
Granite Construction (A)		99,900		2,199
Great Lakes Dredge & Dock		209,100		1,055
Griffon*		42,500		454
H&E Equipment Services* (A)		132,700		904
Hawaiian Holdings* (A)		114,900		563
Healthcare Services Group (A)		55,640		1,156
Heico, Cl A		38,943		1,194
Hexcel*		9,000		153
Higher One Holdings*		133,050		1,542
Hill International*		13,800		53
HNI (A)		29,000		678
Horizon Lines, Cl A		256,408		1,023
Hudson Highland Group* (A)		42,700		128
ICF International*		55,739		1,176
IDEX (A)		50,707		1,511
IHS, Cl A*		20,410		1,261
II-VI* (A)		35,591		1,224
Innerworkings* (A)		544,645		2,957
Insteel Industries		10,500		83
Interface, Cl A		188,716		2,419
Interline Brands*		10,200		165
JetBlue Airways* (A)		21,600		123
John Bean Technologies		7,600		113
Kadant*		28,874		492
Kaman		16,967		362
Kaydon (A)		79,973		2,592
Kelly Services, Cl A*		29,600		309
Kirby*		55,700		2,052
Knight Transportation (A)		85,789		1,616
Knoll		2,400		32
Kratos Defense & Security Solutions* (A)		115,900		1,147
Ladish*		17,500		435
Landstar System		55,855		2,010
LB Foster, Cl A*		11,100		284
LECG*		212,101		276
Lincoln Electric Holdings		3,000		149
LS Starrett, Cl A		1,700		15
Lydall*		15,460		106
M&F Worldwide*		3,700		86
Manitowoc		85,500		783
Marten Transport		16,800		331
Mcgrath Rentcorp		5,776		116
Michael Baker*		47,200		1,556
Middleby*		1,137		63
Mine Safety Appliances		35,128		801
Mobile Mini*		66,983		953
Mueller Industries		85,000		2,004
Mueller Water Products, Cl A		20,500		49
MYR Group* (A)		53,091		739


Description	Shares		Market Value ($ Thousands)

NACCO Industries, Cl A		12,100	$	938
Navistar International *		17,000		712
Nordson		21,300		1,367
Northwest Pipe *		2,600		39
Old Dominion Freight Line *		52,050		1,213
Orbital Sciences *		37,000		481
Orion Marine Group *		33,700		378
Pacer International *(A)		76,900		394
Powell Industries *		15,200		432
Quanex Building Products		98,475		1,556
Raven Industries		20,100		678
RBC Bearings *		39,634		1,161
Republic Airways Holdings *(A)		70,500		496
Resources Connection		202,712		2,248
Ritchie Bros Auctioneers		94,835		1,729
RSC Holdings *(A)		154,800		926
Rush Enterprises, Cl A *		97,478		1,237
Ryder System (A)		59,400		2,279
Sauer-Danfoss *		10,300		167
School Specialty *(A)		121,803		1,587
Skywest		89,264		1,137
Spirit Aerosystems Holdings, Cl A *(A)		50,600		979
Standard Parking *		134,454		2,104
Standard Register		34,494		99
Standex International		18,500		435
SYKES Enterprises *		106,800		1,277
TAL International Group (A)		64,881		1,383
Teledyne Technologies *		55,780		2,018
Tennant		68,994		2,155
Terex *(A)		33,380		608
Tetra Tech *		115,467		2,096
Textainer Group Holdings (A)		41,900		1,144
Titan Machinery *		70,426		1,052
Towers Watson, Cl A		58,564		2,629
TransDigm Group		32,750		1,896
Tredegar		52,205		857
Triumph Group		8,024		533
TrueBlue *		85,700		925
Tutor Perini *		97,806		1,933
UAL *		39,311		833
Unifirst		5,800		228
Universal Forest Products		12,300		319
US Airways Group *		179,900		1,626
US Ecology		10,577		143
Vitran, Cl A *		107,252		976
Wabash National *(A)		353,200		2,165
Wabtec		53,925		2,293
Watts Water Technologies, Cl A (A)		32,427		974
Werner Enterprises (A)		4,600		92
WESCO International *(A)		121,334		3,917
Woodward Governor (A)		66,600		1,740
YRC Worldwide *		31,300		8

				205,372


Information Technology — 18.4%
ACI Worldwide *		5,000		95
Acme Packet *		72,102		2,423
Actel *		101,600		1,453
Acxiom *		31,200		387
ADC Telecommunications *		20,000		253
Advanced Energy Industries *		136,817		1,931


Description	Shares		Market Value ($ Thousands)

Advent Software *(A)		49,305	$	2,449
Amkor Technology *(A)		189,700		962
Ancestry.com *(A)		63,640		1,225
Anixter International *(A)		45,117		2,070
AOL *		85,539		1,901
Applied Micro Circuits *(A)		16,100		174
Archipelago Learning *		96,069		1,004
Arris Group *(A)		246,900		2,017
Arrow Electronics *		62,800		1,437
Art Technology Group *		471,353		1,645
AsiaInfo Holdings *		66,695		1,191
Atheros Communications *		175,602		4,330
Atmel *		322,405		1,870
ATMI *(A)		159,590		2,039
AVX		16,100		200
Benchmark Electronics *		171,100		2,400
Black Box		17,200		485
Blackbaud		15,500		323
Blackboard *		54,556		1,805
Blue Coat Systems *		14,300		269
Brightpoint *		139,400		831
Brocade Communications Systems *		302,041		1,516
Cabot Microelectronics *		39,000		1,167
CACI International, Cl A *(A)		50,613		2,066
CDC Software ADR *		198,600		1,080
Ceva *		181,550		2,197
Checkpoint Systems *		28,786		528
Ciber *		439,548		1,204
Cirrus Logic *		12,100		183
Cognex		48,392		944
Coherent *		32,002		1,189
CommScope *		66,560		1,248
CommVault Systems *		92,343		2,267
Compuware *		109,000		783
Comverse Technology *(A)		164,300		854
Concur Technologies *(A)		20,345		952
Convergys *(A)		83,600		847
CSG Systems International *		149,093		2,728
CTS		112,257		902
Cymer *		34,500		1,015
Cypress Semiconductor *		44,200		468
Daktronics		28,300		261
DealerTrack Holdings *(A)		56,704		836
Diebold		76,275		1,979
Digi International *		173,400		1,314
Digital River *		87,735		2,313
DTS *		119,140		4,176
Earthlink (A)		372,900		3,192
Echo Global Logistics *		93,093		1,169
Electro Rent		13,471		159
Electronics for Imaging *		34,557		368
Emulex *		169,761		1,620
Entegris *		46,000		177
Entropic Communications *		158,750		1,208
Epicor Software *		3,600		24
EPIQ Systems		7,200		90
Euronet Worldwide *		115,115		1,621
Fair Isaac (A)		67,500		1,511
Fairchild Semiconductor International, Cl A *		32,700		253
Forrester Research *		14,300		439
Gartner *		65,865		1,889


Description	Shares		Market Value ($ Thousands)

Global Cash Access Holdings *		220,400	$	798
GSI Commerce *(A)		96,998		2,209
Hackett Group *		281,400		1,114
Heartland Payment Systems		111,652		1,580
Hittite Microwave *		13,500		574
Imation *(A)		314,166		2,689
Insight Enterprises *		79,500		1,045
Integrated Device Technology *		130,549		668
InterDigital *(A)		22,300		551
Intermec *(A)		196,628		2,067
Internet Capital Group *		167,300		1,408
Intersil, Cl A		52,800		528
Isilon Systems *		12,200		243
IXYS *		25,200		238
Jack Henry & Associates		47,800		1,125
JDA Software Group *		59,500		1,367
KIT Digital *(A)		118,705		1,020
Knot *(A)		305,380		2,156
Lattice Semiconductor *		85,400		354
Lawson Software *		337,169		2,562
LeCroy *		71,700		386
Lexmark International, Cl A *		34,400		1,204
Littelfuse *(A)		16,334		608
LivePerson *		20,300		145
LTX-Credence *(A)		194,200		420
Manhattan Associates *(A)		105,500		2,748
Mantech International, Cl A *(A)		72,067		2,550
MAXIMUS		27,900		1,499
Meru Networks *(A)		66,218		848
Methode Electronics		162,392		1,450
Micrel		42,200		373
Microsemi *		102,033		1,429
MicroStrategy, Cl A *		36,600		2,852
Mitel Networks *(A)		177,300		1,153
MKS Instruments *		52,151		900
ModusLink Global Solutions *		34,217		199
MoneGram International *		95,300		192
Monotype Imaging Holdings *		73,505		544
Monster Worldwide *(A)		90,200		995
Move *		118,503		223
MTS Systems		19,599		522
Multi-Fineline Electronix *		20,550		428
National Instruments		24,100		695
NCR *		71,400		918
Net 1 UEPS Technologies *		95,658		1,101
Netgear *		68,600		1,449
Netlogic Microsystems *		97,373		2,352
NetSuite *		69,606		1,322
Novatel Wireless *(A)		223,200		1,297
Novell *		136,100		765
Nuance Communications *(A)		53,622		787
Oclaro *		9,900		101
Omnivision Technologies *		30,200		619
OpenTable *		5,500		293
Openwave Systems *		46,200		75
Orbotech *		105,400		1,070
OSI Systems *		36,000		1,065
Parametric Technology *		42,984		733
Park Electrochemical		69,900		1,671
Parkervision *(A)		380,971		297
Pegasystems		27,300		598
Plantronics		68,500		1,871
PMC - Sierra *		136,900		947


Description	Shares		Market Value ($ Thousands)

Power Integrations (A)		60,500	$	1,657
Power-One *(A)		5,000		51
Progress Software *		77,300		2,065
PROS Holdings *		129,474		1,019
QLogic *		21,500		320
Quantum *		869,624		1,252
Quest Software *		179,988		3,857
Rackspace Hosting *		14,800		291
Radisys *(A)		77,500		702
RealNetworks *		60,300		163
RF Micro Devices *		103,000		503
Richardson Electronics		25,765		227
RightNow Technologies *		26,241		439
Rogers *		12,236		328
Rosetta Stone *		73,596		1,256
Rubicon Technology *(A)		30,210		741
Rudolph Technologies *(A)		117,100		926
Sanmina-SCI *		75,178		679
Sapient		126,529		1,320
SAVVIS *		85,837		1,503
Scansource *		25,100		626
Seachange International *		144,900		1,122
Sigma Designs *(A)		11,200		106
Silicon Image *		94,000		340
SMART Modular Technologies WWH *		49,000		230
Smith Micro Software *		85,128		651
Sonic Solutions *(A)		94,384		760
Sourcefire *(A)		25,003		634
SRA International, Cl A *(A)		88,327		1,700
SS&C Technologies Holdings *(A)		206,385		2,908
Stamps.com *		13,525		155
Standard Microsystems *		27,371		496
STEC *(A)		49,806		556
SuccessFactors *		58,050		1,225
Synaptics *		12,200		322
Synchronoss Technologies *		53,739		831
SYNNEX *(A)		36,800		849
Synopsys *		29,656		679
Syntel		51,350		1,977
Taleo, Cl A *		45,276		1,160
Tech Data *		38,800		1,404
Technitrol (A)		53,500		198
Tekelec *		39,614		434
TeleNav *(A)		130,900		733
TeleTech Holdings *		43,300		549
Teradyne *		468,501		4,207
Tessera Technologies *		11,300		172
THQ *		39,811		141
TIBCO Software *		52,900		767
TiVo *(A)		17,200		135
TNS *(A)		36,531		549
Trimble Navigation *		44,435		1,250
TriQuint Semiconductor *		44,800		311
TTM Technologies *(A)		145,300		1,200
Ultra Clean Holdings *		62,500		529
Ultratech *(A)		81,300		1,350
Unisys *		58,380		1,305
United Online		270,600		1,334
Valueclick *		78,700		858
Varian Semiconductor Equipment Associates *		43,700		1,085


Description	Shares		Market Value ($ Thousands)

Vasco Data Security International *		10,800	$	64
Veeco Instruments *(A)		50,019		1,662
VeriFone Holdings*		75,650		1,829
Vishay Intertechnology*		56,300		433
VistaPrint *(A)		240,932		7,392
Vocus *		105,974		1,570
Web.com Group *		51,800		226
Websense *(A)		74,600		1,451
Xyratex *(A)		67,293		810
Zebra Technologies, Cl A *		28,624		819
Zoran *		225,747		1,824

				225,113


Materials — 4.3%
A. Schulman		56,382		1,025
AK Steel Holding		36,275		462
Allied Nevada Gold *(A)		66,100		1,550
AM Castle *		14,969		209
Aptargroup		39,272		1,636
Arch Chemicals		31,618		971
Boise *(A)		65,900		453
Buckeye Technologies		162,510		1,931
Cabot		14,429		410
Carpenter Technology (A)		29,000		899
Clearwater Paper *		5,900		401
Coeur d’Alene Mines *(A)		17,600		302
Cytec Industries		18,149		861
Domtar		10,000		600
Eagle Materials		15,000		344
Ferro *(A)		57,606		616
Glatfelter		35,000		358
Globe Specialty Metals *		120,100		1,313
Graham Packaging *		22,000		246
H.B. Fuller		140,158		2,662
Haynes International		68,893		2,017
Headwaters *		61,175		188
Hecla Mining *(A)		43,500		249
Horsehead Holding *		167,732		1,328
Huntsman		56,285		513
Innophos Holdings		37,700		1,100
Jaguar Mining *(A)		133,700		786
Kaiser Aluminum (A)		24,400		901
KapStone Paper and Packaging *		15,300		174
Koppers Holdings		64,122		1,282
Minerals Technologies (A)		22,400		1,201
Molycorp *(A)		91,800		1,538
Myers Industries		72,793		464
Nalco Holding		55,260		1,256
New Gold *(A)		186,300		1,192
NewMarket		36,875		3,707
Olin		59,154		1,059
Olympic Steel (A)		23,000		507
OM Group *		65,896		1,687
Omnova Solutions *		12,600		77
PolyOne *		144,248		1,406
Quaker Chemical		28,200		835
Rock-Tenn, Cl A		21,100		1,016
Rockwood Holdings *!		17,400		450
RTI International Metals*		36,450		1,006
Schweitzer-Mauduit International		10,261		552
Sensient Technologies (A)		76,600		2,124
Silgan Holdings		19,373		579


Description	Shares		Market Value ($ Thousands)

Spartech *		36,390	$	325
Stepan		14,000		776
Universal Stainless & Alloy *		53,700		1,105
US Gold *(A)		70,900		367
Wausau Paper *		25,400		161
Worthington Industries		51,900		738
WR Grace *		131,871		3,336

				53,251


Telecommunication Services — 0.9%
Alaska Communications Systems
Group		82,664		799
Atlantic Telegraph-Network (A)		12,100		516
Cbeyond *(A)		37,455		448
Cincinnati Bell *		331,000		778
Consolidated Communications Holdings		29,286		508
Frontier Communications		112,300		868
Global Crossing *		38,000		467
Leap Wireless International *(A)		85,300		885
Neutral Tandem*(A)		139,278		1,574
Premiere Global Services *		59,300		294
SBA Communications, Cl A *(A)		65,233		2,335
USA Mobility		92,300		1,325

				10,797


Utilities — 3.5%
AGL Resources		28,212		1,035
Allete		73,040		2,598
Avista (A)		51,300		1,071
California Water Service Group		14,000		487
Central Vermont Public Service		17,800		353
CH Energy Group		2,100		88
Cia de Saneamento de Minas Gerais-COPASA (Brazil)		74,600		1,065
Cleco		69,000		1,955
El Paso Electric *		106,100		2,435
Empire District Electric (A)		88,292		1,732
Great Plains Energy		79,067		1,462
IDACORP		55,756		1,955
ITC Holdings (A)		27,762		1,609
Laclede Group		6,900		230
Mirant *		32,000		311
Nicor		42,600		1,802
Northwest Natural Gas (A)		15,400		700
NorthWestern		210,583		5,922
Portland General Electric		298,775		5,970
South Jersey Industries		10,247		481
UGI		45,100		1,245
UIL Holdings		39,800		1,054
Unisource Energy		102,558		3,336
Vectren		67,400		1,654
Westar Energy (A)		72,226		1,731

				42,281

Total Common Stock (Cost $1,143,587) ($ Thousands)				1,181,434


Description	Face Amount ($ Thousands)/Shares		Market Value ($ Thousands)

CONVERTIBLE BONDS — 0.2%

Consumer Discretionary — 0.0%
Eddie Bauer Holdings CV to 73.8007 shares
5.250%, 04/01/14 (B) (I) (K)	$	3,147	$	252

Energy — 0.2%
GeoMet CV to 7.6923 shares
8.000%, 07/29/13 (C)		1,665		1,199
Rentech CV to 249.2522 shares
4.000%, 04/15/13		1,665		1,199
Scorpio Mining CV to 1.55 shares
7.000%, 05/05/11 (I) (J) (K)		887		769

				2,185

Total Convertible Bonds (Cost $2,248) ($ Thousands)				2,437


EXCHANGE TRADED FUND — 0.1%
Powershares QQQ		31,233		1,359

Total Exchange Traded Fund (Cost $1,397) ($ Thousands)				1,359


PREFERRED STOCK — 0.1%

Consumer Discretionary — 0.1%
Callaway Golf (A) (D)		9,600		1,019


Financials — 0.0%
Grubb & Ellis*		6,600		528

Total Preferred Stock (Cost $1,605) ($ Thousands)				1,547


RIGHT — 0.0%

United States — 0.0%
Ligand Pharma, Expires 01/05/12 (I)		64,529		—

Total Right (Cost $0) ($ Thousands)				—


WARRANTS — 0.0%
Oilsands Quest, Expires 05/12/11*		247,050		17

Rentech, Expires 04/25/12* (I) (J) (K)		16,100		—

Titanium Asset Management, Expires 06/21/11 * (I) (K)		122,200		—

Washington Mutual, (E)		17,435		9

Total Warrants (Cost $52) ($ Thousands)				26


Description	Face Amount ($ Thousands)/Shares		Market Value ($ Thousands)

U.S. TREASURY OBLIGATION — 0.4%
U.S. Treasury Bill
0.035%, 12/16/10 (F) (G)		4,411	$	4,409

Total U.S. Treasury Obligation (Cost $4,409) ($ Thousands)				4,409


CASH EQUIVALENT — 2.4%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200%** †		29,717,384	$	29,717

Total Cash Equivalent (Cost $29,717) ($ Thousands)				29,717


AFFILIATED PARTNERSHIP — 25.8%
SEI Liquidity Fund, L.P., 0.250%** † (H)		322,359,934		315,998

Total Affiliated Partnership (Cost $322,360) ($ Thousands)				315,998

Total Investments — 125.5% (Cost $1,505,375) ($ Thousands) ††			$	1,536,927

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)		Expiration Date		Unrealized Appreciation Depreciation ($ Thousands)
Russell 2000 Index E-MINI		491		Sep-2010	$	(115	)

Percentages are based on a Net Assets of $1,225,115($ Thousands).

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $1,505,375 ($ Thousands), and the unrealized appreciation and depreciation were $147,924 ($ Thousands) and $(116,372)($ Thousands), respectively.

(A)

This security or a partial position of this security is on loan at August 31, 2010. The total value of securities on loan atAugust 31, 2010 was $217,286 ($ Thousands).

(B)

Security in default on interest payments.

(C)

Step Bonds—The rate reflected is the effective yield on August 31, 2010. The coupon on a step bond changes on a specified date.

(D)

Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” These securities have been determined to be liquid under guidelines established by the Board of Trustees.

(E)

This warrant represents a potential distribution settlement in a legal claim and does not have a strike price or expiration date.

(F)

Zero coupon security. The rate reported is the effective yield at time of purchase.

(G)

Security, or a portion thereof, has been pledged as collateral on open futures contracts.

(H)

This security was purchased with cash collateral held from securities on loan. The total value of such securities as of August 31, 2010 was $315,998 ($ Thousands).

(I)

Securities considered illiquid. The total value of such securities as of August 31, 2010 was $1,434 ($ Thousands) and represented 0.12% of Net Assets.

(J)

Securities considered restricted. The total value of such securities as of August 31, 2010 was $769 ($ Thousands) and represented 0.06% of net assets.

(K)

Security fair valued using methods determined in good faith by the Valuation Committee of the Board of Trustees. The total value of such security as of August 31, 2010 was $1,434 ($ Thousands) and represented 0.12% of net assets.

ADR — American Depository Receipt

Cl — Class

CV — Convertible Security

L.P. — Limited Partnership

NY — New York

REIT — Real Estate Investment Trust

Ser — Series

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	1,181,062	$	80	$	292	$	1,181,434
Convertible Bonds		—		1,416		1,021		2,437
Exchange Traded Fund		1,359		—		—		1,359
Preferred Stock		—		1,547		—		1,547
Right		—		—		—		—
Warrants		—		26		—		26
U.S. Treasury Obligation		—		4,409		—		4,409
Cash Equivalent		29,717		—		—		29,717
Affiliated Partnership		—		315,998		—		315,998

Total Investments in Securities	$	1,212,138	$	323,746	$	1,313	$	1,536,927


Other Financial Instruments	Level 1			Level 2		Level 3		Total
Futures
Contracts*	$	(115	)	$	—	$	—	$	(115	)

Total Other Financial Instruments	$	(115	)	$	—	$	—	$	(115	)

Futures contracts are valued at the unrealized depreciation on the instrument.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value ($ Thousands):


	Investments in Common Stock			Investments in Convertible Bonds
Beginning balance as of June 1, 2010	$	358		$	1,031
Accrued discounts/premiums		—			10
Realized gain/(loss)		—			—
Change in unrealized appreciation/(depreciation)		(66	)		(20	)
Net purchases/sales		—			—
Net transfer in and/or out of Level 3		—			—

Ending balance as of August 31, 2010	$	292		$	1,021

Changes in unrealized gains/(losses) included in earnings related to securities still held at reporting date		(66	)		(20	)

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

Amounts designated as “—” are $0 or have been rounded to $0.

Restricted Securities — At August 31, 2010, the Fund owned private placement investments that were purchased through private offerings or acquired through initial public offerings and cannot be sold without prior registration under the Securities Act of 1933 or pursuant to an exemption there form. In addition, the Fund has generally agreed to further restrictions on the disposition of certain holdings as set forth in various agreements entered into in connection with the purchase of these investments. These investments are valued at fair value as determined in accordance with the procedures approved by the Board of Trustees. The acquisition dates of these investments, along with their cost and values at August 31, 2010, were as follows:


Description	Shares		Market Value ($ Thousands)

COMMON STOCK — 95.1%

Consumer Discretionary — 14.9%
Aaron’s		64,902	$	1,057
Abercrombie & Fitch, Cl A		30,783		1,065
Advance Auto Parts		784		43
Aeropostale *		74,215		1,581
AFC Enterprises *		63,194		679
American Eagle Outfitters		424,575		5,367
American Greetings, Cl A (A)		33,400		645
AnnTaylor Stores *		104,313		1,599
Apollo Group, Cl A *		28,800		1,223
Arctic Cat *(A)		68,000		475
Autoliv (A)		41,710		2,258
Belo, Cl A *		174,740		914
Big 5 Sporting Goods (A)		19,431		230
Big Lots *(A)		42,172		1,318
Blyth		2,481		95
Bob Evans Farms		41,100		1,050
BorgWarner *		33,928		1,481
Bridgepoint Education *		269,700		3,485
Brinker International (A)		56,300		887
Brown Shoe		9,103		96
Brunswick (A)		150,000		1,907
Buckle		38,391		919
Cabela’s *(A)		74,000		1,153
Cablevision Systems, Cl A		153,500		3,851
Callaway Golf (A)		292,315		1,827
Capella Education *(A)		36,012		2,254
Career Education *		89,719		1,573
Carmike Cinemas *		6,401		39
Carter’s *(A)		158,670		3,545
Cato, Cl A		149,366		3,428
CBS, Cl B		62,000		857
CEC Entertainment *(A)		55,435		1,739
Century Casinos *		11,829		23
Charming Shoppes *		19,226		65
Cheesecake Factory *(A)		96,292		2,156
Childrens Place Retail Stores *(A)		49,477		2,160
Chipotle Mexican Grill, Cl A *		2,900		437
Christopher & Banks		78,897		508
Coinstar *		69,700		3,032
Collective Brands *		16,533		214
Cooper Tire & Rubber (A)		241,913		3,917
Corinthian Colleges *		18,600		91
CPI		1,719		37
Cracker Barrel Old Country Store (A)		73,147		3,263
CROCS *(A)		142,030		1,775
Dana Holdings *		50,117		514
Darden Restaurants		48,954		2,020
DeVry		861		33
Dick’s Sporting Goods *(A)		240,521		5,886
Dillard’s, Cl A (A)		122,721		2,684
Domino’s Pizza *		44,698		573
DR Horton (A)		142,390		1,461
DSW, Cl A *(A)		49,600		1,178
Eastman Kodak *(A)		326,700		1,140
Ethan Allen Interiors		65,005		877
Expedia		98,800		2,259
Express *		78,077		1,063
Family Dollar Stores		38,300		1,639
Focus Media Holding ADR *(A)		98,610		1,882
Foot Locker		118,100		1,386
Fortune Brands		16,702		748


Description	Shares		Market Value ($ Thousands)

Fossil *		17,130	$	814
GameStop, Cl A *		78,900		1,415
Gannett (A)		199,157		2,408
Gaylord Entertainment *(A)		164,702		4,309
Genesco *		39,372		994
Gentex (A)		184,312		3,238
Goodyear Tire & Rubber *		33,869		313
Gordmans Stores *		28,625		306
Grand Canyon Education *(A)		188,074		3,214
Guess?		42,500		1,373
H&R Block		143,815		1,848
Hanesbrands *		180,240		4,315
Harley-Davidson		105,911		2,576
Harman International Industries *		37,900		1,181
hhgregg *		64,199		1,213
Hibbett Sports *		55,522		1,287
Hillenbrand		39,800		757
Home Inns & Hotels Management ADR *		30,470		1,279
HOT Topic		289,900		1,505
HSN *		3,048		80
Hyatt Hotels, Cl A *		62,550		2,356
Iconix Brand Group *		32,000		488
International Game Technology		130,335		1,903
International Speedway, Cl A		33,006		756
Interpublic Group *		572,616		4,884
J Crew Group *		84,005		2,561
Jakks Pacific *		16,020		239
Jarden		250,200		6,740
Jo-Ann Stores *		16,638		676
John Wiley & Sons, Cl A		6,900		246
Jones Apparel Group		185,439		2,852
Journal Communications, Cl A *		12,945		51
Kid Brands *		2,358		19
Las Vegas Sands *		49,400		1,399
La-Z-Boy, Cl Z *		3,387		23
Leggett & Platt		133,200		2,553
Lennar, Cl A		46,900		618
Liberty Global *		3,413		94
Life Time Fitness *(A)		44,277		1,504
Limited Brands		5,800		137
Lin TV, Cl A *		11,300		45
Lincoln Educational Services *		78,900		862
Live Nation *		510,751		4,413
LKQ *		190,500		3,543
MarineMax *		14,406		94
Marriott International, Cl A		36,200		1,159
Men’s Wearhouse		37,804		729
Meredith		23,100		676
Meritage Homes *		106,050		1,894
National American University Holdings (A)		128,532		628
National CineMedia		384,670		6,112
Navitas		314,512		1,243
NetFlix *		13,100		1,644
New York Times, Cl A *		35,500		255
Nordstrom		48,650		1,407
NutriSystem		19,400		341
NVR *		2,760		1,667
OfficeMax *(A)		96,320		938
Oxford Industries		7,960		157
Penn National Gaming *		246,942		6,959
Penske Auto Group *		13,805		166
Perry Ellis International *		3,396		62
PetSmart		210,050		6,698


Description	Shares		Market Value ($ Thousands)

PF Chang’s China Bistro		2,780	$	119
Phillips-Van Heusen		91,845		4,195
Polaris Industries		63,025		3,361
Pre-Paid Legal Services *(A)		9,200		503
Pulte Homes *		205,811		1,653
RadioShack (A)		84,000		1,552
RC2 *		132,780		2,444
Red Robin Gourmet Burgers *(A)		46,809		867
Regal Entertainment Group, Cl A		93,515		1,151
Regis (A)		133,205		2,234
Rent-A-Center, Cl A		64,794		1,301
RG Barry		3,332		36
Ross Stores		4,240		210
Royal Caribbean Cruises *		11,100		273
Ruby Tuesday *		79,800		735
Ryland Group (A)		71,702		1,155
Saks *		452,535		3,571
Scholastic (A)		71,084		1,665
Scientific Games, Cl A *		568,880		5,808
Scripps Networks Interactive, Cl A		20,580		827
Service International		66,200		509
Shutterfly *		42,417		943
Signet Jewelers *		2,076		55
Sinclair Broadcast Group, Cl A *(A)		93,100		557
Sirius XM Radio *		279,000		267
Sonic *(A)		65,890		505
Sotheby’s		20,500		545
Spectrum Group International *		3,929		8
Stage Stores		95,604		1,067
Standard Motor Products		3,241		28
Starwood Hotels & Resorts Worldwide		22,700		1,061
Steiner Leisure *		63,600		2,265
Strayer Education (A)		17,343		2,511
Stroer Out-of-Home Media *		40,179		1,002
Systemax		1,183		14
Talbots *		261,100		2,606
Tempur-Pedic International *(A)		108,999		2,921
Tenneco *		129,137		3,192
Tesla Motors * (A)		45,200		887
Texas Roadhouse, Cl A *		15,700		208
Tractor Supply		29,385		1,998
True Religion Apparel *		95,735		1,683
TRW Automotive Holdings *(A)		51,824		1,802
Tupperware Brands		33,122		1,303
Ulta Salon Cosmetics & Fragrance *		4,485		102
Urban Outfitters *		26,763		811
Warnaco Group *		11,380		477
Wendy’s, Cl A		154,400		601
Whirlpool (A)		17,200		1,276
Williams-Sonoma		31,840		827
WMS Industries *		90,586		3,201
Wolverine World Wide		1,668		42
Wyndham Worldwide (A)		199,210		4,620
Zumiez *(A)		214,970		3,197

				274,628


Consumer Staples — 2.8%
Andersons		8,200		294
Avon Products		38,469		1,120
BJ’s Wholesale Club *		15,584		654
Cal-Maine Foods (A)		31,900		947


Description	Shares		Market Value ($ Thousands)

Casey’s General Stores		22,000	$	828
Central European Distribution *(A)		70,330		1,609
Central Garden and Pet *		73,524		680
Central Garden and Pet, Cl A *		66,227		618
China-Biotics *(A)		86,300		1,114
Chiquita Brands International *(A)		64,810		814
Constellation Brands, Cl A *		114,094		1,901
Corn Products International		43,983		1,501
Cosan Industria e Comercio (Brazil)		92,400		1,194
Cullen Agricultural Holding *		38,000		257
Dean Foods *		249,495		2,552
Del Monte Foods		454,215		5,923
Dole Food *		67,698		585
Elizabeth Arden *		3,490		57
Estee Lauder, Cl A		2,999		168
Flowers Foods		18,800		486
Fresh Del Monte Produce *		48,300		1,061
Green Mountain Coffee Roasters *(A)		132,901		4,096
Hansen Natural *		15,600		702
Herbalife (A)		60,930		3,386
Imperial Sugar		3,023		38
Inter Parfums		1,233		20
Kroger		78,369		1,546
Kulim Malaysia		483,200		1,301
Lancaster Colony		2,216		101
Lorillard		3,389		258
McCormick		44,626		1,779
Mead Johnson Nutrition, Cl A		27,600		1,441
Molson Coors Brewing, Cl B		44,689		1,947
Nash Finch		10,552		414
Nu Skin Enterprises, Cl A		2,861		73
Nutraceutical International *		3,732		51
Pantry *		71,987		1,355
Prestige Brands Holdings *		171,231		1,267
Ruddick		35,200		1,139
Sanderson Farms		22,094		950
Saskatchewan Wheat Pool, Cl Common Subscription *		153,900		1,212
Supervalu (A)		137,000		1,332
TreeHouse Foods *(A)		60,001		2,490
Village Super Market, Cl A		1,362		35
Weis Markets		17,700		622
Whole Foods Market *		4,846		169
Winn-Dixie Stores *		26,735		175

				52,262


Energy — 4.8%
Atlas Energy *		8,652		235
Atwood Oceanics *		32,900		825
Berry Petroleum, Cl A (A)		191,432		5,197
BPZ Resources *(A)		262,300		1,036
Brigham Exploration *		125,800		1,927
Cal Dive International *		6,331		29
CARBO Ceramics		4,000		303
Cimarex Energy		771		51
Complete Production Services *		60,738		1,071
Concho Resources *(A)		21,278		1,243
Contango Oil & Gas *		1,080		47
CVR Energy *		174,400		1,242


Description	Shares		Market Value ($ Thousands)

DHT Maritime		5,900	$	23
Dresser-Rand Group *(A)		132,085		4,692
Dril-Quip *		50,350		2,662
Energy XXI Bermuda *		33,389		667
Ensco International ADR		4,182		172
Exterran Holdings *		84,069		1,861
Frontier Oil		91,748		1,074
Frontline		48,388		1,282
GMX Resources *		91,319		388
Golar LNG		3,900		41
Goodrich Petroleum *		134,227		1,783
Gulfmark Offshore, Cl A *		2,742		74
Gulfport Energy *		88,746		1,009
Helix Energy Solutions Group *(A)		172,368		1,569
Hornbeck Offshore Services *		65,500		1,035
Houston American Energy		6,700		60
Key Energy Services *(A)		498,665		3,994
Kinder Morgan Escrow (G)*		58,118		—
L&L Energy *		11,516		97
Lufkin Industries		58,727		2,270
Mariner Energy *		1,570		36
Murphy Oil		35,482		1,901
Nabors Industries *		124,814		1,957
Newfield Exploration *		37,410		1,796
Newpark Resources *		20,985		183
Nordic American Tanker Shipping		102,941		2,725
Northern Oil And Gas *(A)		53,300		748
Oceaneering International *		31,740		1,587
Oil States International *		1,711		71
Oilsands Quest *(A)		1,992,900		977
Oilsands Quest Private Placement *		4,800		3
Overseas Shipholding Group (A)		117,930		3,797
Patterson-UTI Energy		31,400		464
PetroHawk Energy *		78,364		1,185
Petroleum Development *		4,211		113
Pioneer Natural Resources		31,277		1,809
Quicksilver Resources *		19,230		235
RAM Energy Resources *		18,868		31
Range Resources (A)		84,270		2,849
SEACOR Holdings *		13,238		1,041
Ship Finance International		50,644		887
Southern Union		2,124		48
Southwestern Energy *		23,112		756
Spectra Energy		103,920		2,114
Stone Energy *		8,312		94
Sunoco (A)		36,200		1,219
Swift Energy *(A)		119,246		3,214
T-3 Energy Services, Cl 3 *		3,655		81
Teekay		48,412		1,177
Teekay Tankers, Cl A		9,000		104
Tesoro (A)		77,145		866
Tetra Technologies *		12,805		107
Tidewater (A)		57,124		2,290
Unit *		5,822		198
USEC *(A)		61,099		287
Vantage Drilling *		792,100		1,069
Venoco * (A)		56,219		995
W&T Offshore (A)		185,400		1,676
Warren Resources *		6,138		19
Western Refining *(A)		88,000		384
Whiting Petroleum *(A)		49,300		4,183
Willbros Group *(A)		107,585		842


Description	Shares		Market Value ($ Thousands)

World Fuel Services		179,655	$	4,588

				88,665


Financials — 18.1%
1st Source		800		13
Advance America Cash Advance Centers		104,300		349
Affiliated Managers Group *		59,924		3,848
Alexander’s ‡		460		140
Allied World Assurance Holdings		40,600		2,045
AMB Property ‡(A)		93,250		2,218
American Campus Communities ‡		16,100		480
American Capital Agency ‡		18,267		498
American Financial Group		164,635		4,737
AmeriCredit *		7,306		177
Ameriprise Financial (A)		85,057		3,707
Annaly Capital Management ‡(A)		65,700		1,142
Anworth Mortgage Asset ‡(A)		206,200		1,404
Apartment Investment & Management, Cl A ‡(A)		84,758		1,732
Apollo Investments *		8,048		77
Arch Capital Group *(A)		40,816		3,257
Ares Capital		8,677		130
Arrow Financial		739		17
Arthur J Gallagher		30,300		753
Aspen Insurance Holdings		56,600		1,608
Associated Banc (A)		126,200		1,522
Assured Guaranty (A)		295,070		4,559
Astoria Financial		20,287		245
AvalonBay Communities ‡(A)		17,963		1,890
Axis Capital Holdings		8,700		269
Banco Latinoamericano de Comercio Exterior, Cl E		80,200		1,018
Bancorpsouth		67,865		865
Bank Mutual		25,400		129
BGC Partners, Cl A		128,219		661
BioMed Realty Trust ‡(A)		13,900		238
BlackRock, Cl A		1,859		264
Boston Private Financial Holdings		54,938		344
Boston Properties ‡(A)		74,688		6,080
Brandywine Realty Trust ‡		99,539		1,094
Brasil Brokers Participacoes		273,500		1,029
Brookline Bancorp		15,742		147
Calamos Asset Management, Cl A		4,277		40
CapitalSource		520,395		2,628
Capstead Mortgage ‡		256,676		2,983
Cardinal Financial		231,762		2,127
Cardtronics *		164,119		2,273
Cash Store Financial Services		126,790		2,012
CB Richard Ellis Group, Cl A *		136,658		2,244
CBL & Associates Properties ‡		156,905		1,914
Cedar Shopping Centers ‡(A)		145,000		800
Century Bancorp, Cl A		966		20
Chemical Financial		20,942		405
Chimera Investment ‡		245,200		964
Cincinnati Financial		11,700		312
City Holding (A)		17,500		500
City National		3,800		184
CNA Financial *		90,700		2,360
CNA Surety *		3,665		61
Colonial Properties Trust ‡		102,050		1,619
Comerica		71,515		2,461
Commerce Bancshares		1,747		62
CommonWealth REIT ‡		113,976		2,749
Community Bank System		5,057		114


Description	Shares		Market Value ($ Thousands)

Corporate Office Properties Trust ‡(A)		36,700	$	1,325
Cowen Group, Cl A *		327,600		1,124
Credit Acceptance *		31,738		1,791
CreXus Investment ‡		62,200		742
CVB Financial		200,744		1,371
Danvers Bancorp		4,477		67
Delphi Financial Group, Cl A		15,500		346
Developers Diversified Realty ‡(A)		163,703		1,696
DiamondRock Hospitality ‡(A)		301,394		2,640
Digital Realty Trust ‡(A)		27,650		1,639
Dime Community Bancshares		7,245		91
Dollar Financial *(A)		71,500		1,383
Douglas Emmett ‡(A)		60,850		981
Duff & Phelps, Cl A		63,755		637
DuPont Fabros Technology ‡		16,947		419
Eaton Vance		112,597		2,926
Education Realty Trust ‡		390,857		2,673
EMC Insurance Group		13,767		283
Employers Holdings		139,741		2,049
Endurance Specialty Holdings		120,096		4,424
Equity Lifestyle Properties ‡		2,318		120
Equity One ‡		108,824		1,740
Equity Residential ‡		110,400		5,060
Essex Property Trust ‡(A)		27,550		2,914
Everest Re Group		22,700		1,797
Ezcorp, Cl A *		17,564		316
FBL Financial Group, Cl A		1,962		45
Federal Realty Investment Trust ‡(A)		30,390		2,410
Federated Investors, Cl B		187,388		3,907
Fifth Third Bancorp		174,222		1,925
Financial Engines *		147,956		1,977
First Community Bancshares		1,979		25
First Financial Bancorp (A)		233,460		3,724
First Horizon National *		79,950		806
First Mercury Financial		4,724		43
First Niagara Financial Group		41,717		471
First Potomac Realty Trust ‡		73,700		1,093
FirstMerit		101,627		1,758
Flushing Financial		171,400		1,856
Forestar Group *		3,951		59
General Shopping Brasil (Brazil) *		163,100		878
Genworth Financial, Cl A *		189,119		2,048
Getty Realty ‡		3,959		98
GFI Group (A)		157,800		707
Glimcher Realty Trust ‡		9,321		55
Gluskin Sheff + Associates		33,900		535
Greenlight Capital Re, Cl A *		3,411		79
Grubb & Ellis *(A)		249,960		272
Hancock Holding (A)		111,006		3,022
Hanover Insurance Group (A)		99,808		4,330
Hatteras Financial ‡		24,100		698
HCP ‡(A)		119,200		4,198
Health Care REIT ‡(A)		60,191		2,765
Healthcare Realty Trust ‡		42,950		1,005
Hercules Technology Growth Capital		94,618		866
Highwoods Properties ‡(A)		62,000		1,939
Horace Mann Educators		135,085		2,215
Hospitality Properties Trust ‡		108,791		2,127
Host Hotels & Resorts ‡(A)		321,166		4,217
Hudson City Bancorp		65,900		760
Hudson Valley Holding		36,460		593
Huntington Bancshares (A)		371,600		1,966


Description	Shares		Market Value ($ Thousands)

Iberiabank		24,289	$	1,184
Independent Bank		3,919		82
Infinity Property & Casualty		53,014		2,457
Inland Real Estate ‡(A)		123,251		950
International Bancshares (A)		58,062		906
Investors Bancorp *		4,577		49
Investors Real Estate Trust ‡(A)		92,400		758
Jefferies Group		13,200		297
Jones Lang LaSalle		38,537		2,910
Keycorp (A)		253,750		1,870
Kilroy Realty ‡		17,400		541
Kimco Realty ‡		523		8
Kite Realty Group Trust ‡		10,182		42
Knight Capital Group, Cl A *(A)		75,000		891
Lexington Realty Trust ‡(A)		231,662		1,545
Liberty Property Trust ‡		74,012		2,248
Life Partners Holdings		1,042		15
LTC Properties ‡		22,000		543
M&T Bank		2,300		197
Macerich ‡ (A)		81,070		3,358
Mack-Cali Realty ‡		57,114		1,762
MarketAxess Holdings		306,266		4,683
MB Financial		34,000		509
Meadowbrook Insurance Group		184,100		1,581
Medical Properties Trust ‡		284,200		2,797
MFA Mortgage Investments ‡		746,007		5,498
MGIC Investment *(A)		254,256		1,836
Mid-America Apartment Communities ‡		25,821		1,458
Montpelier Re Holdings		75,900		1,202
MSCI, Cl A *		74,057		2,214
National Health Investors ‡		3,021		127
National Penn Bancshares		499,246		2,901
National Retail Properties ‡(A)		68,493		1,669
Nationwide Health Properties ‡		69,104		2,658
Nelnet, Cl A		78,800		1,726
New York Community Bancorp		156,923		2,494
NewAlliance Bancshares		44,864		549
NorthStar Realty Finance ‡		37,624		120
NYSE Euronext		9,425		262
Old National Bancorp		20,000		184
Omega Healthcare Investors ‡		6,253		134
Oriental Financial Group (A)		50,000		662
PacWest Bancorp		77,477		1,322
PartnerRe		41,771		3,110
Pennsylvania Real Estate Investment Trust ‡(A)		80,672		844
People’s United Financial		178,782		2,274
PHH *		65,610		1,214
Platinum Underwriters Holdings		75,934		3,053
Plum Creek Timber ‡		7,900		272
Popular *		35,816		92
Post Properties ‡		54,958		1,396
PrivateBancorp, Cl A (A)		64,640		676
ProAssurance *		78,233		4,143
ProLogis ‡(A)		104,600		1,135
Prosperity Bancshares		6,647		189
Protective Life		40,279		752
PS Business Parks ‡		4,988		281
Public Storage ‡(A)		50,304		4,931
Radian Group (A)		34,500		218
RAIT Financial Trust ‡*(A)		69,000		93
Raymond James Financial		66,500		1,535
Rayonier ‡		3,598		170
Redwood Trust ‡		103,030		1,423


Description	Shares		Market Value ($ Thousands)

Regency Centers ‡(A)		76,800	$	2,800
Regions Financial (A)		118,700		763
Reinsurance Group of America, Cl A		97,289		4,255
Republic Bancorp, Cl A (A)		37,026		719
S&T Bancorp		23,500		399
Selective Insurance Group		52,900		786
Senior Housing Properties Trust ‡(A)		89,850		2,112
Signature Bank NY *		35,646		1,302
Simon Property Group ‡		55,029		4,977
SL Green Realty ‡(A)		40,450		2,438
Sovran Self Storage ‡		19,100		721
StanCorp Financial Group (A)		39,853		1,420
Stifel Financial *(A)		38,491		1,666
Sun Communities ‡		2,429		70
Sunstone Hotel Investors ‡ *(A)		347,849		2,981
Susquehanna Bancshares (A)		239,204		1,892
SVB Financial Group *		49,550		1,842
SWS Group		41,300		298
Synovus Financial		1,593,015		3,282
Tanger Factory Outlet Centers ‡		1,511		70
Taubman Centers ‡(A)		65,350		2,711
TD Ameritrade Holding *		98,724		1,442
TFS Financial		53,300		490
Titanium Asset Management (G)(I)*		147,000		288
Tower Group		33,058		709
Transatlantic Holdings		1,249		60
Trustco Bank		112,300		597
Trustmark (A)		63,178		1,205
Umpqua Holdings		41,308		430
Unitrin		78,100		1,859
Unum Group		166,637		3,341
Uranium Participation *		214,000		1,182
U-Store-It Trust ‡(A)		185,041		1,480
Validus Holdings		38,900		991
Value Creation (G)(I)*		85,600		80
Ventas ‡(A)		39,383		1,989
Vornado Realty Trust ‡(A)		16,391		1,329
Waddell & Reed Financial, Cl A		73,825		1,699
Washington Federal		58,500		835
Weingarten Realty Investors ‡		15,498		313
Westamerica Bancorporation		8,200		416
Western Alliance Bancorp *(A)		260,794		1,596
Whitney Holding (A)		505,162		3,753
Willis Group Holdings		69,814		2,030
Winthrop Realty Trust ‡		4,967		68
World Acceptance *(A)		84,777		3,455
WR Berkley (A)		39,600		1,044
XL Group, Cl A		18,500		331
Zions Bancorporation (A)		391,101		7,208

				338,268


Health Care — 11.2%
Abaxis *(A)		58,999		1,065
Acadia Pharmaceuticals *		306,000		309
Accelrys *		16,394		99
Accretive Health *		68,570		645
Achillion Pharmaceuticals *		256,807		673
Acorda Therapeutics *		130,607		3,934
Affymax *(A)		22,200		125
Albany Molecular Research *		19,700		120
Alere *		12,100		338
Alexion Pharmaceuticals *		46,374		2,619
Align Technology *(A)		203,044		3,254


Description	Shares		Market Value ($ Thousands)

Alkermes *(A)		117,841	$	1,562
Allergan		8,500		522
Allscripts-Misys Healthcare Solutions *(A)		194,211		3,245
Almost Family *		3,000		76
AMAG Pharmaceuticals *(A)		29,020		731
American Medical Systems Holdings *(A)		77,777		1,417
AMERIGROUP *(A)		86,670		3,198
AmerisourceBergen		125,597		3,426
AMN Healthcare Services *		9,068		40
Amsurg, Cl A *(A)		165,891		2,765
Analogic		5,005		208
Angiodynamics *		5,969		91
Arena Pharmaceuticals *(A)		223,545		1,455
Arqule *		14,031		73
Array Biopharma *		5,716		15
Assisted Living Concepts, Cl A *		2,325		63
athenahealth *		83,685		2,254
Auxilium Pharmaceuticals *(A)		145,562		3,772
BioMarin Pharmaceutical *(A)		54,193		1,100
Biovail		232,070		5,307
Brookdale Senior Living *		102,400		1,372
Bruker *		23,807		283
Catalyst Health Solutions *		53,150		2,131
Cephalon *(A)		16,800		951
Cepheid *(A)		60,563		891
Charles River Laboratories International *		28,762		812
Chemed		21,077		1,052
Community Health Systems *		1,500		39
Conceptus *(A)		244,493		3,378
Cooper (A)		125,322		5,055
Corvel *		1,462		54
Covance *		30,325		1,150
Coventry Health Care *		56,107		1,086
Cubist Pharmaceuticals *(A)		36,040		794
Cyberonics *		50,790		1,088
Dendreon *(A)		23,559		844
Dentsply International		63,300		1,761
Emergency Medical Services, Cl A *		16,145		776
Emergent Biosolutions *		4,676		85
Endo Pharmaceuticals Holdings *		70,098		1,905
Ensign Group (A)		61,900		1,030
eResearch Technology *		16,188		120
Exelixis *		11,157		33
Forest Laboratories *		56,400		1,539
Genomic Health *		2,466		36
Gen-Probe *		72,771		3,277
Health Management Associates, Cl A *(A)		317,657		1,985
Health Net *		108,190		2,584
Healthsouth *(A)		147,635		2,401
HeartWare International *		38,078		2,466
Henry Schein *		30,801		1,626
Hill-Rom Holdings		35,038		1,125
Hi-Tech Pharmacal *		1,017		18
Hologic *		127,351		1,807
Hospira *		688		35
Human Genome Sciences *(A)		45,991		1,338
Humana *		31,939		1,526
ICON ADR *		80,760		1,777
ICU Medical *		27,543		981


Description	Shares		Market Value ($ Thousands)

Idexx Laboratories *		25,300	$	1,398
Impax Laboratories *		8,611		135
Incyte *(A)		393,855		4,931
Inspire Pharmaceuticals *		101,900		494
Integra LifeSciences Holdings *		2,733		95
Intuitive Surgical *		2,585		685
Isis Pharmaceuticals *		7,699		60
Kendle International *		7,633		60
Kensey Nash *		1,715		45
Kindred Healthcare *		32,439		381
Kinetic Concepts *(A)		45,791		1,462
King Pharmaceuticals *		483,638		4,212
LHC Group *		51,200		1,025
LifePoint Hospitals *		53,200		1,618
Lincare Holdings (A)		91,333		2,103
Magellan Health Services *		61,049		2,675
MedAssets *(A)		159,081		3,153
Medical Action Industries *		4,171		34
Medicines *		179,700		2,067
Medicis Pharmaceutical, Cl A		7,038		194
Mednax *		32,245		1,494
MELA Sciences *(A)		78,325		539
Meridian Bioscience		39,500		722
MWI Veterinary Supply *		54,526		2,895
Mylan Laboratories *		136,529		2,343
Myriad Genetics *		82,270		1,288
Nabi Biopharmaceuticals *		14,503		70
Nektar Therapeutics *		4,518		58
Neogen *(A)		30,625		895
NPS Pharmaceuticals *		14,633		95
NuVasive *(A)		109,802		3,223
Omnicare		86,000		1,651
Omnicell *		163,649		1,826
Onyx Pharmaceuticals *		164,740		3,969
Owens & Minor (A)		113,085		3,015
Par Pharmaceutical *		56,098		1,479
Parexel International *(A)		149,750		2,979
Patterson		33,012		835
PDL BioPharma (A)		285,277		1,615
PerkinElmer		195,291		4,103
Perrigo		36,400		2,074
Pharmaceutical Product Development		188,070		4,320
Pharmasset *		36,600		889
PharMerica *		53,500		415
PSS World Medical *		110,090		2,021
Quality Systems		39,820		2,232
Quest Diagnostics		35,576		1,548
Questcor Pharmaceuticals *		8,456		82
Quidel *(A)		99,100		1,198
Regeneron Pharmaceuticals *(A)		129,298		2,842
RehabCare Group *(A)		23,540		390
Res-Care *		6,078		75
ResMed *		21,650		653
Rigel Pharmaceuticals *(A)		312,000		2,443
Salix Pharmaceuticals *		53,446		2,023
Sciclone Pharmaceuticals *		16,240		39
Seattle Genetics *(A)		111,940		1,282
Sirona Dental Systems *		37,105		1,170
Skilled Healthcare Group, Cl A *		98,400		331
STERIS		1,588		46
SXC Health Solutions *		41,290		3,212
Symmetry Medical *		11,562		104
Synta Pharmaceuticals *		14,897		41
Team Health Holdings *(A)		85,530		1,079


Description	Shares		Market Value ($ Thousands)

Techne		70,425	$	4,066
Teleflex		62,837		3,020
Theravance *(A)		125,305		1,515
United Therapeutics *(A)		30,801		1,424
Universal Health Services, Cl B		74,004		2,324
Valeant Pharmaceuticals International *		13,492		778
Vertex Pharmaceuticals *		31,900		1,063
Vical *		17,598		54
Viropharma *		28,500		357
Vital Images *		44,396		560
Volcano *(A)		123,980		2,740
Waters *		8,025		486
Wright Medical Group *		3,611		48
Zymogenetics *		11,586		58

				206,635


Industrials — 14.8%
AAON		1,469		33
AAR *		10,922		168
ABM Industries (A)		54,489		1,068
ACCO Brands *		96,500		561
Actuant, Cl A (A)		76,212		1,510
Acuity Brands (A)		67,159		2,602
Advisory Board *(A)		68,700		2,785
Aecom Technology *		55,874		1,257
Aegean Marine Petroleum Network (A)		100,259		1,493
AerCap Holdings *		88,100		946
Aircastle		52,159		407
Alaska Air Group *		41,552		1,838
Alexander & Baldwin		14,037		475
Allegiant Travel, Cl A (A)		47,624		1,792
Alliant Techsystems *		28,318		1,866
Ametek		39,779		1,710
AO Smith (A)		30,900		1,587
Apogee Enterprises		49,100		444
Applied Industrial Technologies		47,385		1,270
ArvinMeritor *(A)		422,407		5,521
Atlas Air Worldwide Holdings *		66,069		2,863
Avery Dennison		60,360		1,963
Baldor Electric		50,931		1,787
Barnes Group		104,920		1,596
BE Aerospace *		144,659		3,899
Beacon Roofing Supply *(A)		187,700		2,615
Belden		70,238		1,538
Blount International *		6,979		81
Brady, Cl A		48,409		1,247
Briggs & Stratton		97,215		1,764
Bucyrus International, Cl A		55,000		3,162
C.H. Robinson Worldwide		22,616		1,470
Carlisle		142,831		4,006
Ceradyne *		44,903		981
Cintas		103,727		2,644
Clean Harbors *		49,347		2,983
Columbus McKinnon *		16,015		205
Consolidated Graphics *		63,023		2,503
Continental Airlines, Cl B *(A)		115,580		2,582
Copa Holdings, Cl A		62,440		3,046
Copart *		108,100		3,573
Corporate Executive Board		112,700		3,160
Corrections of America *(A)		237,000		5,287
CoStar Group *(A)		132,965		5,487
Courier		32,275		423
CRA International *		63,800		1,014


Description	Shares		Market Value ($ Thousands)

Crane		92,760	$	3,145
Cubic		2,480		95
Deluxe (A)		90,198		1,509
Donaldson		6,635		278
Douglas Dynamics *(A)		116,700		1,326
Dover		45,349		2,030
Dycom Industries *		244,830		1,968
EMCOR Group *		166,523		3,787
EnerSys *		2,856		63
Ennis		17,942		276
EnPro Industries *(A)		43,700		1,193
Esterline Technologies *		32,517		1,496
Fastenal		31,527		1,427
Fluor		45,000		2,010
Force Protection *		283,600		1,099
Franklin Electric		1,985		63
G&K Services, Cl A		52,644		1,058
Gardner Denver		190,966		9,117
GATX		10,600		289
GenCorp *		44,300		194
GeoEye *(A)		81,487		2,969
Graham		43,668		619
Great Lakes Dredge & Dock		446,775		2,254
H&E Equipment Services *		131,700		897
Hertz Global Holdings *		133,600		1,137
Hexcel *(A)		73,454		1,253
HNI		6,796		159
Horizon Lines, Cl A		317,734		1,268
Hubbell, Cl B		6,654		299
ICF International *		76,188		1,607
IDEX		33,912		1,010
IHS, Cl A *		109,917		6,792
Interface, Cl A		288,311		3,696
Interline Brands *		5,316		86
ITT		5,028		214
JB Hunt Transport Services (A)		111,130		3,638
Joy Global		42,900		2,434
Kadant *		60,757		1,035
Kaman		13,404		287
Kaydon		52,617		1,705
KBR		17,500		406
Kirby *		29,500		1,086
Knoll		102,580		1,377
Kratos Defense & Security Solutions *(A)		119,326		1,181
Landstar System		77,020		2,771
Lincoln Electric Holdings		12,959		642
Lindsay Manufacturing		2,486		92
Localiza Rent a Car		209,590		2,918
Manitowoc		57,344		525
Manpower		62,400		2,652
Mcgrath Rentcorp		2,141		43
Michael Baker *		35,200		1,161
Mine Safety Appliances		28,000		638
Mueller Industries		39,900		941
Mueller Water Products, Cl A (A)		486,883		1,154
MYR Group *(A)		68,609		956
Navistar International *		87,512		3,665
NN *		85,100		630
Nordson		8,770		563
Old Dominion Freight Line *(A)		151,554		3,533
Oshkosh Truck *		43,884		1,092
Owens Corning *		25,200		685
Paccar		45,202		1,853
Pitney Bowes		97,797		1,882


Description	Shares		Market Value ($ Thousands)

PowerSecure International *(A)		110,361	$	914
Quanta Services *		55,654		998
Raven Industries		2,265		76
Regal-Beloit		74,446		4,118
Republic Airways Holdings *		12,546		88
Resources Connection		297,083		3,295
Ritchie Bros Auctioneers		173,290		3,159
RR Donnelley & Sons		98,662		1,494
RSC Holdings *(A)		163,700		979
Rush Enterprises, Cl A *(A)		279,842		3,553
Ryder System		17,100		656
School Specialty *		88,385		1,152
Shaw Group *		1,467		48
Skywest		49,700		633
Spirit Aerosystems Holdings, Cl A *(A)		199,976		3,867
Standard Parking *		185,420		2,902
Standard Register		25,638		74
Standex International		6,788		160
Stericycle *(A)		10,723		702
Sterling Construction *		7,617		83
SYKES Enterprises *(A)		349,363		4,178
TAL International Group (A)		49,500		1,055
Teledyne Technologies *		48,565		1,757
Terex *		70,236		1,279
Tetra Tech *		230,641		4,186
Textainer Group Holdings (A)		51,800		1,414
Thomas & Betts *		38,497		1,423
Timken		101,905		3,333
Towers Watson, Cl A		86,238		3,872
TransDigm Group		45,175		2,615
Trex *(A)		107,973		2,165
Trimas *		1,570		20
Triumph Group		16,884		1,121
Tutor Perini *		15,100		298
Twin Disc		3,044		36
UAL *		67,225		1,425
United Rentals *		7,926		89
United Stationers *		26,376		1,184
Universal Forest Products		2,755		71
URS *		35,413		1,263
US Airways Group *		106,887		966
US Ecology		2,927		40
UTi Worldwide		81,900		1,148
Vitran, Cl A *		139,310		1,268
Wabash National *(A)		362,280		2,221
Wabtec		74,375		3,163
Watsco		29,200		1,499
Watts Water Technologies, Cl A		34,776		1,045
WESCO International *		218,072		7,039
WW Grainger		894		95

				269,659


Information Technology — 17.4%
Acme Packet *		12,929		434
Advanced Analogic Technologies *		380,105		1,232
Advent Software *		36,977		1,837
Akamai Technologies *		41,722		1,922
Alliance Data Systems *		83,600		4,697
Amkor Technology *		75,300		382
Analog Devices		72,401		2,019
Ancestry.com *(A)		82,259		1,583
Anixter International *		1,617		74
Ansys *		40,400		1,567


Description	Shares		Market Value ($ Thousands)

AOL *		117,989	$	2,622
Applied Micro Circuits *(A)		246,260		2,655
Ariba *(A)		41,032		635
Arris Group *		144,346		1,179
Art Technology Group *		516,899		1,804
Aruba Networks *(A)		25,400		467
AsiaInfo Holdings *		91,975		1,643
Atheros Communications *		48,472		1,195
Atmel *		444,705		2,579
ATMI *(A)		178,423		2,279
Avnet *		34,300		785
AVX		21,200		263
Baidu ADR *(A)		11,810		926
Benchmark Electronics *		141,000		1,978
Black Box		24,000		677
Blackboard *		127,335		4,213
Blue Coat Systems *		67,500		1,271
Bottomline Technologies *		7,100		99
Brightpoint *		222,460		1,326
Brocade Communications Systems *		962,293		4,831
Cabot Microelectronics *(A)		43,400		1,299
CACI International, Cl A *		32,011		1,306
Celestica *(A)		149,720		1,124
Ceragon Networks *		122,677		1,038
Ceva *		250,355		3,029
Checkpoint Systems *		38,743		711
Ciber *		128,864		353
Cognex		21,800		425
Cogo Group *		17,200		105
Coherent *		47,770		1,775
CommScope *		91,810		1,722
Computer Sciences		38,611		1,537
Compuware *		5,281		38
comScore *		62,373		1,135
Comtech Telecommunications *		62,950		1,282
Comverse Technology *(A)		181,400		943
Concur Technologies *(A)		70,860		3,314
Convergys *(A)		118,100		1,196
Cree *		9,664		517
CSG Systems International *		20,614		377
CTS		127,190		1,023
Cymer *		46,015		1,354
Cypress Semiconductor *		37,400		396
Daktronics		22,500		207
DealerTrack Holdings *(A)		72,531		1,069
DG FastChannel *(A)		52,083		825
Diebold		136,033		3,529
Digital River *		65,724		1,733
Diodes *(A)		60,554		893
Dolby Laboratories, Cl A *(A)		52,043		2,884
DST Systems		14,600		595
DTS *		118,000		4,136
Earthlink		61,800		529
Electronics for Imaging *		27,753		295
Emulex *		235,741		2,249
Entegris *		8,736		34
Entropic Communications *		208,163		1,584
Equinix *(A)		67,468		6,154
Euronet Worldwide *		216,070		3,042
F5 Networks *		5,500		481
Fairchild Semiconductor International, Cl A *(A)		564,834		4,366
Finisar *(A)		268,310		3,432
FLIR Systems *		24,080		605


Description	Shares		Market Value ($ Thousands)

Gartner *		215,828	$	6,190
Gerber Scientific *(A)		112,900		624
Global Payments		7,536		284
GSI Commerce *(A)		612,567		13,948
Harris		47,636		2,004
Heartland Payment Systems		82,375		1,166
Hewitt Associates, Cl A *		14,204		686
Hollysys Automation Technologies *(A)		111,900		1,122
Hutchinson Technology *		7,139		21
IAC *		13,587		337
Imation *(A)		199,800		1,710
Informatica *(A)		104,960		3,375
Infospace *(A)		265,872		1,864
Ingram Micro, Cl A *		121,160		1,825
Insight Enterprises *		87,181		1,146
Integrated Device Technology *		373,866		1,914
InterDigital *		8,657		214
Intermec *		128,220		1,348
Internap Network Services *		7,647		31
Internet Brands, Cl A *(A)		192,163		1,989
Intersil, Cl A		37,900		379
Itron *		1,365		74
Ixia *		106,280		1,200
Jabil Circuit		23,142		237
Jack Henry & Associates		5,493		129
JDA Software Group *		147,402		3,386
KIT Digital *(A)		131,431		1,129
Kla-Tencor		27,500		770
Knot *(A)		336,760		2,378
Lawson Software *		281,294		2,138
Lexmark International, Cl A *(A)		95,480		3,341
Linear Technology		18,000		516
Littelfuse *		34,371		1,280
LSI *		374,300		1,505
MAXIMUS		2,787		150
Methode Electronics		71,351		637
Micrel		31,534		279
Micros Systems *		49,000		1,867
Microsemi *(A)		423,476		5,929
Mitel Networks *(A)		179,500		1,167
MKS Instruments *		62,484		1,078
Molex		151,269		2,670
Monolithic Power Systems *		25,686		422
Monotype Imaging Holdings *		87,910		650
Move *		114,824		216
MTS Systems		10,255		273
Multi-Fineline Electronix *		67,860		1,414
National Instruments		6,300		182
National Semiconductor		35,075		442
NCR *		66,725		857
Ness Technologies *		8,509		36
Net 1 UEPS Technologies *		128,383		1,478
Netezza *(A)		101,820		1,981
Netgear *		70,500		1,489
Netlogic Microsystems *(A)		72,770		1,757
Netscout Systems *		10,594		168
Novatel Wireless *(A)		227,100		1,319
Nuance Communications *(A)		59,184		869
OSI Systems *		44,100		1,304
Parametric Technology *		291,182		4,965
Park Electrochemical		47,200		1,128
Parkervision *(A)		385,585		301
Pegasystems		15,900		348
Pericom Semiconductor *		155,858		1,317


Description	Shares		Market Value ($ Thousands)

Plantronics		5,213	$	142
Plexus *(A)		100,652		2,317
PMC-Sierra *		719,300		4,978
Polycom *		119,980		3,417
Power Integrations (A)		130,121		3,564
Progress Software *		43,200		1,154
PROS Holdings *		178,535		1,405
QLIK Technologies *		32,600		607
QLogic *		149,140		2,221
Quantum *		602,700		868
Quest Software *		131,088		2,809
QuinStreet *(A)		119,982		1,287
Rackspace Hosting *		7,760		153
Richardson Electronics		57,494		506
Riverbed Technology *(A)		63,740		2,445
Rovi *(A)		44,330		1,929
Rubicon Technology *(A)		38,929		954
SAIC *		56,737		844
Sanmina-SCI *		288,570		2,606
Sapient (A)		367,800		3,836
SAVVIS *		118,363		2,073
Scansource *		17,700		442
Seachange International *(A)		147,300		1,140
Silicon Laboratories *		16,597		633
Skyworks Solutions *(A)		189,279		3,381
Sohu.com *		2,243		109
SolarWinds *		13,200		190
Solera Holdings		12,700		504
Sonic Solutions *(A)		120,269		968
SPS Commerce *		72,714		741
SRA International, Cl A *		2,483		48
SS&C Technologies Holdings *		275,995		3,889
Stamps.com *		4,504		52
Stratasys *(A)		18,816		427
SuccessFactors *(A)		104,590		2,207
Synaptics *		13,800		365
Synchronoss Technologies *		64,643		999
SYNNEX *		10,478		242
Synopsys *		177,187		4,056
Syntel		1,600		62
Taleo, Cl A *(A)		80,312		2,058
Tech Data *		43,821		1,586
Technitrol (A)		43,000		159
TeleNav *(A)		143,900		806
Tellabs		7,463		53
Teradata *		23,300		763
Teradyne *		158,111		1,420
TIBCO Software *		12,803		186
TiVo *(A)		281,030		2,209
TNS *		76,871		1,155
Totvs		15,200		1,126
Trimble Navigation *(A)		122,478		3,445
TriQuint Semiconductor *		258,003		1,793
TTM Technologies *(A)		237,599		1,963
Unisys *		57,350		1,282
United Online		332,726		1,640
Varian Semiconductor Equipment Associates *		23,625		586
Veeco Instruments *(A)		61,568		2,046
VeriFone Holdings *		12,621		305
VeriSign *		3,500		102
Vishay Intertechnology *		124,704		959
Vishay Precision Group *		8,457		123
VistaPrint *(A)		305,715		9,379
Vocus *(A)		234,311		3,472


Description	Shares		Market Value ($ Thousands)

Volterra Semiconductor *		3,659	$	73
WebMD Health, Cl A *(A)		18,106		922
Websense *(A)		124,170		2,415
Western Digital *		56,100		1,355
Wright Express *		106,092		3,407
Xyratex *		104,144		1,254
Zebra Technologies, Cl A *		60,232		1,724
Zoran *		197,049		1,592

				322,696


Materials — 5.0%
A. Schulman		40,799		741
AK Steel Holding		115,409		1,470
Albemarle		49,876		2,000
Allegheny Technologies		61,947		2,522
Allied Nevada Gold *(A)		56,000		1,313
AM Castle *		8,251		115
Aptargroup		55,481		2,311
Ashland		72,858		3,385
Buckeye Technologies		71,300		847
Cabot		54,137		1,539
Carpenter Technology (A)		97,542		3,025
Celanese, Cl A		121,946		3,256
Crown Holdings *		2,447		68
Cytec Industries		60,501		2,870
Domtar		23,000		1,381
Eastman Chemical		36,319		2,235
Greif, Cl A		6,500		370
H.B. Fuller		50,700		963
Hawkins		1,567		48
Headwaters *		61,421		189
Huntsman		388,284		3,537
Innophos Holdings		103,501		3,019
International Paper		5,501		113
Jaguar Mining *(A)		148,800		875
Kaiser Aluminum		15,700		580
KapStone Paper and Packaging *		9,488		108
Koppers Holdings		27,308		546
LSB Industries *(A)		97,045		1,609
Lubrizol		30,241		2,822
Minerals Technologies		6,055		325
Molycorp *		101,200		1,695
Nalco Holding		149,751		3,402
Neenah Paper		28,991		427
New Gold *(A)		206,300		1,320
NewMarket (A)		26,936		2,708
Nucor		47,115		1,733
Olin		17,100		306
OM Group *		38,289		980
Owens-Illinois *		129,540		3,246
Packaging of America		86,747		1,934
PolyOne *		316,990		3,091
Reliance Steel & Aluminum (A)		25,142		937
Rockwood Holdings *(A)		136,676		3,533
RPM International		5,202		88
RTI International Metals *(A)		84,619		2,335
Schnitzer Steel Industries, Cl A		50,040		2,214
Schweitzer-Mauduit International		21,592		1,162
Sensient Technologies		24,400		677
Sherwin-Williams		3,000		211
Silgan Holdings		184,688		5,520
Solutia *		110,555		1,497
Sonoco Products		32,600		1,025
Spartech *		16,233		145
Steel Dynamics		240,660		3,297


Description	Shares		Market Value ($ Thousands)

Stepan		2,343	$	130
Temple-Inland		88,139		1,404
Titanium Metals *		40,205		728
Universal Stainless & Alloy *		53,800		1,107
Walter Industries		2,137		154
Westlake Chemical		11,130		288
Worthington Industries		44,300		630
WR Grace *		48,386		1,224

				93,330


Telecommunication Services — 1.9%
AboveNet *(A)		15,401		795
Alaska Communications Systems Group		104,525		1,010
Cbeyond *(A)		60,626		724
CenturyLink (A)		63,900		2,311
Cincinnati Bell *(A)		794,146		1,866
Consolidated Communications Holdings		7,917		137
Frontier Communications		495,540		3,830
Leap Wireless International *		90,600		940
MetroPCS Communications *(A)		615,550		5,503
Neutral Tandem *(A)		119,724		1,353
NII Holdings *		175,395		6,358
NTELOS Holdings		55,807		903
Qwest Communications International		76,400		432
SBA Communications, Cl A *(A)		205,390		7,353
Telephone & Data Systems, Cl L		3,164		80
tw telecom, Cl A *		33,457		587
USA Mobility		70,776		1,016

				35,198


Utilities — 4.2%
AGL Resources		130,367		4,784
Alliant Energy		62,784		2,199
Ameren		42,000		1,179
American Water Works		120,043		2,711
Atmos Energy		1,256		36
Avista		16,800		351
Black Hills		13,417		408
Cia de Saneamento de Minas Gerais-COPASA (Brazil)		85,600		1,222
Cleco (A)		56,172		1,591
CMS Energy (A)		230,640		4,036
Consolidated Edison		31,009		1,474
Edison International		50,675		1,710
El Paso Electric *		98,855		2,269
Empire District Electric		40,548		796
Energen		971		41
Great Plains Energy		285,578		5,280
Hawaiian Electric Industries		45,000		1,081
IDACORP		17,450		612
ITC Holdings (A)		56,479		3,273
Laclede Group		9,825		327
MDU Resources Group		184,678		3,474
Mirant *		50,600		491
New Jersey Resources (A)		48,670		1,811
NiSource		93,500		1,621
Northeast Utilities		122,474		3,548
NorthWestern		126,925		3,569
NV Energy		11,461		147
OGE Energy		28,759		1,123
Pinnacle West Capital		34,066		1,358


Description	Shares/Face Amount ($Thousands)		Market Value ($ Thousands)

PNM Resources (A)		122,380	$	1,400
Portland General Electric		321,843		6,430
SCANA (A)		73,497		2,868
South Jersey Industries		21,562		1,013
UGI		166,800		4,604
Unisource Energy		40,073		1,304
Vectren		56,834		1,395
Westar Energy (A)		78,609		1,884
Wisconsin Energy		55,062		3,069
Xcel Energy		95,329		2,127

				78,616

Total Common Stock (Cost $1,639,385) ($ Thousands)				1,759,957


EXCHANGE TRADED FUNDS — 0.3%
iShares Russell 2000 Growth Index Fund (A)		78,800		5,172
iShares Russell 2000 Index Fund		874		53
SPDR S&P MidCap 400 ETF Trust		401		53

Total Exchange Traded Funds (Cost $5,940) ($ Thousands)				5,278


CONVERTIBLE BONDS — 0.1%

Consumer Discretionary — 0.0%
Eddie Bauer Holdings CV to 73.8007 shares
5.250%, 04/01/14 (E)(G)(I)	$	3,146		252


Energy — 0.1%
Rentech CV to 249.2522 shares
4.000%, 04/15/13		1,813		1,305
Scorpio Mining CV to 1.55 shares
7.000%, 05/05/11 (G)(H)(I)		509		441

				1,746

Total Convertible Bonds (Cost $1,914) ($ Thousands)				1,998


PREFERRED STOCK — 0.1%

Consumer Discretionary — 0.1%
Callaway Golf (A)(F)		11,500		1,220


Financials — 0.0%
Grubb & Ellis *		11,750		940

Total Preferred Stock (Cost $2,315) ($ Thousands)				2,160


WARRANTS — 0.0%
Cullen Agricultural Holding, Expires 10/21/13 (I)*		222,701		2

Oilsands Quest, Expires 05/12/11 *		330,350		23

Rentech, Expires 04/25/12 (G)(H)(I)*		13,800		—


Description	Shares/Face Amount ($ Thousands)		Market Value ($ Thousands)
Titanium Asset Management, Expires 06/21/11 (G) (I) *		105,000	$	—

Total Warrants (Cost $196) ($ Thousands)				25


U.S. TREASURY OBLIGATION (B) (C) — 0.3%

U.S. Treasury Bill
0.035%, 12/16/10	$	5,606		5,603

Total U.S. Treasury Obligation (Cost $5,603) ($ Thousands)				5,603


CASH EQUIVALENT — 3.4%
SEI Daily Income Trust, Prime Obligation Fund, Cl A,
0.200% **†		62,643,701		62,644

Total Cash Equivalent (Cost $62,644) ($ Thousands)				62,644


AFFILIATED PARTNERSHIP — 26.5%
SEI Liquidity Fund, L.P.,
0.250% **†(D)		498,755,628		490,931

Total Affiliated Partnership (Cost $498,756) ($ Thousands)				490,931

Total Investments — 125.8% (Cost $2,216,753)($ Thousands) ††			$	2,328,596

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)		Expiration Date		Unrealized Depreciation ($ Thousands)
Russell 2000 Index E-MINI		644		Sep-2010	$	(1,280	)
S&P Mid 400 Index E-MINI		357		Sep-2010		(433	)

					$	(1,713	)

A summary of the outstanding forward foreign currency contracts held by the Fund at August 31, 2010, is as follows:


Maturity Date	Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) ($ Thousands)
10/05/10		AUD	1,613		USD	1,354	$	(76	)
10/05/10		USD	232		AUD	280		16

							$	(60	)

A summary of the counterparties for the outstanding forward foreign currency contracts held by the Fund at August 31, 2010, is as follows:


Counterparty	Currency to Deliver ($ Thousands)			Currency to Receive ($ Thousands)		Unrealized Appreciation (Depreciation) ($ Thousands)
Barclay’s Capital	$	(272	)	$	271	$	(1	)
Deutsche Bank Securities		(1,221	)		1,149		(72	)
UBS		(49	)		53		4
Westpac Banking		(119	)		128		9

						$	(60	)

Percentages are based on a Net Assets of $1,851,362 ($ Thousands).

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $2,216,753 ($ Thousands), and the unrealized appreciation and depreciation were $258,639 ($ Thousands) and $(146,796)($ Thousands), respectively.

(A)

This security or a partial position of this security is on loan at August 31, 2010. The total value of securities on loan at August 31, 2010 was $314,362 ($ Thousands).

(B)

Zero coupon security. The rate reported is the 7-day effective yield as of August 31, 2010.

(C)

Security, or a portion thereof, has been pledged as collateral on open futures contracts.

(D)

This security was purchased with cash collateral held from securities on loan. The total value of such securities as of August 31, 2010 was $490,931 ($ Thousands).

(E)

Security in default on interest payments.

(F)

(G)

Securities considered illiquid. The total value of such securities as of August 31, 2010 was $1,061 ($ Thousands) and represented 0.06% of Net Assets.

(H)

Securities considered restricted. The total value of such securities as of August 31, 2010 was $441 ($ Thousands) and represented 0.02% of net assets.

(I)

Security fair valued using methods determined in good faith by the Valuation Committee of the Board of Trustees. The total value of such security as of August 31, 2010 was $1,063 ($ Thousands) and represented 0.06% of net assets.

ADR — American Depositary Receipt

AUD — Australian Dollar

Cl — Class

CV — Convertible Security

L.P. — Limited Partnership

NY — New York

REIT — Real Estate Investment Trust

S&P — Standard & Poor’s

USD — U.S. Dollar

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1			Level 2			Level 3		Level 3
Common Stock	$	1,759,328		$	378		$	251	$	1,759,957
Exchange Traded Funds		5,278			—			—		5,278
Convertible Bonds		—			1,305			693		1,998
Preferred Stock		—			2,160			—		2,160
Warrants		2			23			—		25
U.S. Treasury Obligation		—			5,603			—		5,603
Cash Equivalent		62,644			—			—		62,644
Affiliated Partnership		—			490,931			—		490,931

Total Investments in Securities	$	1,827,252		$	500,400		$	944	$	2,328,596

Other Financial Instruments		Level 1			Level 2			Level 3		Total
Futures Contracts*	$	(1,713	)	$	—		$	—	$	(1,713	)
Forwards Contracts*		—			(60	)		—		(60	)
Total Other Financial

Instruments	$	(1,713	)	$	(60	)	$	—	$	(1,773	)

Futures contracts and forwards contracts are valued at the unrealized depreciation on the instrument.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value ($ Thousands):


	Investments in Common Stock			Investments in Convertible Bonds
Beginning balance as of June 1, 2010	$	308		$	699
Accrued discounts/premiums		—			—
Realized gain/(loss)		—			—
Change in unrealized appreciation/(depreciation)		(57	)		(6	)
Net purchases/sales		—			—
Net transfer in and/or out of Level 3		—			—

Ending balance as of August 31, 2010	$	251		$	693

Changes in unrealized gains/(losses) included in earnings related to securities still held at reporting date		(57	)		(6	)

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.


Description	Shares		Market Value ($ Thousands)

COMMON STOCK — 96.8%

Consumer Discretionary — 9.8%
Aaron’s		21,150	$	345
Advance Auto Parts		9,100		496
Amazon.com *		11,043		1,379
Autoliv		5,580		302
Buckle		7,220		173
Burger King Holdings		24,550		404
Career Education *		15,550		273
Carter’s *		14,390		322
Choice Hotels International		14,440		475
Cinemark Holdings		27,100		396
DeVry		4,700		179
DIRECTV, Cl A *		14,150		537
Discovery Communications, Cl A *		15,980		603
DreamWorks Animation SKG, Cl A *		15,500		459
GameStop, Cl A *		23,100		414
Genuine Parts		5,970		250
Gildan Activewear, Cl A *		7,410		203
H&R Block		31,240		401
ITT Educational Services *		12,655		674
Panera Bread, Cl A *		6,200		495
PetSmart		6,156		196
priceline.com *		4,831		1,408
Regal Entertainment Group, Cl A		14,780		182
Shaw Communications, Cl B		14,200		292
Strayer Education		5,934		859
Tractor Supply		3,610		245

				11,962


Consumer Staples — 17.6%
Altria Group		68,633		1,532
Brown-Forman, Cl B		24,736		1,516
Campbell Soup		26,293		980
Church & Dwight		8,130		498
Dean Foods *		43,400		444
Flowers Foods		25,840		668
General Mills		15,980		578
Hansen Natural *		5,580		252
Hershey		44,189		2,054
Hormel Foods		50,434		2,176
Kellogg		29,191		1,450
Kimberly-Clark		14,869		957
Lorillard		20,270		1,540
McCormick		22,330		890
Philip Morris International		29,641		1,525
Ralcorp Holdings *		7,510		448
Reynolds American		26,843		1,464
Ruddick		11,310		366
Sara Lee		24,478		353
Sysco		47,748		1,313
Tyson Foods, Cl A		26,093		427

				21,431


Energy — 4.0%
Chevron		13,287		985
Dresser-Rand Group *		10,970		390
Enbridge		12,710		632
Exxon Mobil		10,400		615


Description	Shares		Market Value ($ Thousands)

FMC Technologies *		4,700	$	291
Imperial Oil		6,310		233
Murphy Oil		4,910		263
PetroHawk Energy *		25,700		389
Range Resources		10,730		363
SEACOR Holdings *		2,200		173
TransCanada		16,080		573

				4,907


Financials — 13.0%
Alleghany *		770		229
Allied World Assurance Holdings		10,930		550
Arch Capital Group *		3,600		287
Bank of Hawaii		28,201		1,259
BOK Financial		7,067		314
Capitol Federal Financial		22,926		588
Commerce Bancshares		46,726		1,670
Corporate Office Properties Trust ‡		13,770		497
Cullen/Frost Bankers		26,418		1,354
East West Bancorp		4,173		61
Erie Indemnity, Cl A		9,500		499
Essex Property Trust ‡		5,630		596
Federated Investors, Cl B		18,100		377
First Citizens BancShares, Cl A		3,228		542
First Niagara Financial Group		18,238		206
Fulton Financial		23,540		195
Health Care REIT ‡		11,500		528
Home Properties ‡		7,500		379
Hudson City Bancorp		36,440		420
MFA Mortgage Investments ‡		32,830		242
NASDAQ OMX Group *		9,200		165
PartnerRe		4,739		353
Platinum Underwriters Holdings		10,490		422
ProAssurance *		4,040		214
Prosperity Bancshares		14,100		401
Public Storage ‡		2,020		198
Realty Income ‡		15,930		519
RenaissanceRe Holdings		9,140		519
Senior Housing Properties Trust ‡		10,440		245
Tanger Factory Outlet Centers ‡		9,630		445
TFS Financial		59,946		551
UMB Financial		12,510		399
Washington Real Estate Investment Trust ‡		18,390		564

				15,788


Health Care — 20.5%
Abbott Laboratories		40,555		2,001
Alexion Pharmaceuticals *		11,516		650
AmerisourceBergen		64,795		1,768
Amgen *		35,254		1,799
Baxter International		7,976		339
Becton Dickinson		21,772		1,485
Biogen Idec *		26,834		1,444
C.R. Bard		25,860		1,987
Cardinal Health		43,120		1,292
Celgene *		6,740		347
Cephalon *		1,721		98
Edwards Lifesciences *		7,700		443
Eli Lilly		28,021		940


Description	Shares		Market Value ($ Thousands)

Emergency Medical Services, Cl A *		6,880	$	330
Endo Pharmaceuticals Holdings *		19,400		527
Forest Laboratories *		42,613		1,163
Genzyme *		10,908		765
Henry Schein *		9,102		481
Johnson & Johnson		23,581		1,345
Laboratory Corp of America Holdings *		3,900		283
LifePoint Hospitals *		6,980		212
McKesson		33,000		1,916
Medco Health Solutions *		2,737		119
Myriad Genetics *		16,030		251
Owens & Minor		17,400		464
Patterson		16,610		420
SXC Health Solutions *		3,399		264
Techne		23,180		1,338
United Therapeutics *		10,400		481

				24,952


Industrials — 3.7%
Alliant Techsystems *		6,500		428
C.H. Robinson Worldwide		9,140		594
CLARCOR		4,910		165
FTI Consulting *		10,490		344
Gardner Denver		5,390		257
KBR		23,440		544
Landstar System		11,940		430
Lennox International		10,880		461
Lincoln Electric Holdings		7,890		391
Nordson		3,080		198
Raytheon		4,430		195
Rollins		22,720		465

				4,472


Information Technology — 9.6%
Activision Blizzard		50,540		540
ADTRAN		17,280		543
Advanced Micro Devices *		22,065		124
Amdocs *		10,617		279
Analog Devices		45,810		1,277
CGI Group, Cl A *		17,300		240
Cognizant Technology Solutions, Cl A *		3,479		200
Computer Sciences		7,287		290
Diebold		8,370		217
FLIR Systems *		9,190		231
Harris		11,020		464
Ingram Micro, Cl A *		37,022		557
Intel		7,678		136
International Business Machines		13,377		1,649
Lender Processing Services		4,438		130
Mantech International, Cl A *		10,730		380
Microchip Technology		11,288		313
NeuStar, Cl A *		7,850		174
SAIC *		4,396		65
Tech Data *		32,513		1,177
Texas Instruments		60,396		1,391
WebMD Health, Cl A *		7,615		388
Xilinx		22,586		545
Zebra Technologies, Cl A *		15,113		432

				11,742


Description	Shares		Market Value ($ Thousands)

Materials — 3.5%
Aptargroup		13,280	$	553
Compass Minerals International		6,350		456
Greif, Cl A		9,000		512
Intrepid Potash *		15,590		350
Newmont Mining		27,121		1,663
Reliance Steel & Aluminum		4,800		179
Silgan Holdings		16,170		483

				4,196


Telecommunication Services — 2.6%
AT&T		28,690		776
BCE		14,250		445
MetroPCS Communications *		56,840		508
SBA Communications, Cl A *		14,920		534
Telephone & Data Systems		5,440		157
Verizon Communications		24,494		723

				3,143


Utilities — 12.5%
AGL Resources		27,868		1,023
Alliant Energy		15,310		536
American Water Works		11,200		253
Aqua America		6,497		129
Atmos Energy		39,928		1,130
Consolidated Edison		13,810		656
DPL		13,176		334
DTE Energy		11,840		555
Edison International		16,510		557
Energen		5,680		242
Great Plains Energy		24,400		451
Hawaiian Electric Industries		18,920		454
IDACORP		12,270		430
Nicor		18,826		796
NSTAR		43,325		1,648
OGE Energy		13,330		521
Pepco Holdings		12,510		225
PG&E		9,770		457
Piedmont Natural Gas		18,100		494
PPL		3,286		89
TECO Energy		11,940		202
UGI		30,226		834
Vectren		39,829		977
WGL Holdings		12,800		452
Wisconsin Energy		32,156		1,792

				15,237

Total Common Stock (Cost $99,610) ($ Thousands)				117,830


Description	Shares/Face Amount ($ Thousands)		Market Value ($ Thousands)

CASH EQUIVALENT — 2.5%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200%**†		3,032,143	$	3,032

Total Cash Equivalent (Cost $3,032) ($ Thousands)				3,032


U.S. TREASURY OBLIGATION — 0.4%
U.S. Treasury Bill 0.035%, 12/16/10 (A)(B)	$	563		562

Total U.S. Treasury Obligation (Cost $562) ($ Thousands)				562

Total Investments — 99.7% †† (Cost $103,204)($ Thousands)			$	121,424

A summary of the open futures contracts held by the Fund at August 31, 2010, is

as follows:

Type of

Contract

Number of
Contracts
Long

Expiration

Date

Unrealized

Appreciation

($ Thousands)

S&P 500 Index E-MINI

Sep-2010

Percentages are based on a Net Assets of $121,759 ($ Thousands).

Non-income producing security.

Rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $103,204 ($Thousands), and the unrealized appreciation and depreciation were $21,569 ($Thousands) and $(3,349) ($Thousands), respectively.

(A)

Zero coupon security. The rate reported is the effective yield at time of purchase.

(B)

Security, or a portion thereof, has been pledged as collateral on open futures contracts.

— Class

REIT

— Real Estate Investment Trust

S&P

— Standard & Poor’s

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	117,830	$	—		—	$	117,830
Cash Equivalent		3,032		—		—		3,032
U.S. Treasury Obligation		—		562		—		562

Total Investments in Securities	$	120,862	$	562	$	—	$	121,424


Other Financial Instruments	Level 1		Level 2		Level 3		Total
Futures Contracts*	$	21	$	—	$	—	$	21

Total Other Financial Instruments	$	21	$	—	$	—	$	21

Futures contracts are valued at the unrealized appreciation on the instrument.

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

Amounts designated as “—” are either $0 or have been rounded to $0.


Description	Shares		Market Value ($ Thousands)

COMMON STOCK — 96.2%

Argentina — 0.1%
Banco Macro ADR		5,769	$	218
Telecom Argentina ADR		5,039		95
Tenaris		15,499		263

				576


Australia — 5.2%
Abacus Property Group ‡		90,603		33
Amcor		469,793		2,818
Asciano Group		104,047		155
Australia & New Zealand Banking Group		173,199		3,482
AXA Asia Pacific Holdings		69,236		339
Bendigo Bank		10,406		78
BGP Holdings *		39,545		—
BHP Billiton		103,023		3,397
BHP Billiton ADR		22,000		1,464
Caltex Australia		77,436		775
CFS Retail Property Trust ‡		9,956		17
Coca-Cola Amatil		121,996		1,296
Cochlear		5,640		347
Commonwealth Bank of Australia		37,123		1,662
Computershare		19,276		163
CSL		1,647		48
Dexus Property Group ‡		76,974		57
Fairfax Media (A)		136,518		175
Fortescue Metals Group *		10,796		45
Goodman Group ‡		293,709		166
Grange Resources *		41,615		21
Harvey Norman Holdings		21,595		66
Intoll Group		151,314		199
Leighton Holdings		418		12
MacArthur Coal		18,945		190
National Australia Bank		12,613		261
Newcrest Mining		65,838		2,183
OneSteel		254,266		652
Orica		15,103		337
Origin Energy		924		12
Rio Tinto		47,282		2,949
Santos		113,374		1,433
Sonic Healthcare		5,429		54
SP AusNet, Cl Miscellaneous		282,417		201
Stockland ‡		191,449		671
Straits Resources		29,693		40
STW Communications Group		17,339		13
Suncorp-Metway		12,969		96
TABCORP Holdings		21,181		121
Transurban Group		39,552		171
Wesfarmers		32,977		940
Westfield Group ‡		34,821		388
Westpac Banking		56,526		1,092
WHK Group		22,891		20
Woolworths		6,805		168

				28,807


Austria — 0.3%
Immofinanz		89,593		294
OMV		4,977		161
RHI *		900		24


Description	Shares		Market Value ($ Thousands)

Vienna Insurance Group		28,100	$	1,326

				1,805


Belgium — 1.4%
Ageas		232,475		591
Colruyt		7,066		1,755
Delhaize Group		6,095		410
Dexia *		5,309		22
D’ieteren		170		80
InBev		76,655		3,999
KBC Groep		12,810		533
Umicore		1,515		53

				7,443


Brazil — 1.9%
Amil Participacoes		172,808		1,601
Anhanguera Educacional Participacoes		73,303		1,237
Banco Bradesco ADR		22,220		392
Banco Santander Brasil ADR (A)		116,300		1,463
Centrais Eletricas Brasileiras ADR		32,079		396
Itau Unibanco Holding ADR		81,600		1,760
NET Servicos de Comunicacao ADR *		78,800		1,003
Petroleo Brasileiro ADR (A)		30,000		1,001
Porto Seguro		114,800		1,385

				10,238


Canada — 3.5%
Agrium		500		35
Bankers Petroleum *		158,600		1,015
Canadian Natural Resources		34,200		1,100
Celestica *		27,600		208
Cenovus Energy		45,200		1,216
CI Financial		6,100		113
Domtar		10,252		615
Dundee, Cl A *		6,000		64
Eldorado Gold		142,600		2,800
Fairfax Financial Holdings		700		278
Gildan Activewear *		5,700		156
Magna International, Cl A		4,200		327
Niko Resources		22,382		2,209
Pacific Rubiales Energy *		72,300		1,705
Research In Motion *		18,300		784
Silver Wheaton *		83,300		1,879
Suncor Energy		73,100		2,215
Teck Cominco, Cl B		55,620		1,860
Toronto-Dominion Bank		6,900		467

				19,046


Chile — 0.7%
Banco Santander Chile ADR		12,737		1,099
Enersis ADR		47,290		1,040
Sociedad Quimica y Minera de Chile ADR (A)		44,000		1,877

				4,016


China — 1.3%
Agricultural Bank of China, Cl H *		4,040,000		1,828
Bank of China, Cl H		2,653,000		1,333
Baoye Group, Cl H		44,000		26
China Minsheng Banking, Cl H		272,400		248


Description	Shares		Market Value ($ Thousands)

Ctrip.com International ADR *		37,041	$	1,500
Ping An Insurance Group of China, Cl H		256,500		2,122
Qingling Motors, Cl H		298,000		79

				7,136


Denmark — 1.2%
A P Moeller - Maersk, Cl A		17		126
A P Moeller - Maersk, Cl B		17		128
Carlsberg, Cl B		11,915		1,126
Coloplast, Cl B		4,736		505
Novo-Nordisk, Cl B		35,910		3,090
Novozymes, Cl B		2,949		347
PER Aarsleff, Cl B		416		28
TrygVesta		27,741		1,492

				6,842


Finland — 1.0%
Elisa, Cl A		900		18
Fortum		31,237		721
Kesko, Cl B		5,499		214
Kone, Cl B		25,447		1,174
Metso		10,666		391
Nokia		3,062		26
Orion, Cl B		17,068		313
Pohjola Bank, Cl A		6,438		71
Sampo, Cl A		11,841		286
Stora Enso, Cl R		160,074		1,238
UPM-Kymmene		14,762		203
Wartsila, Cl B (A)		17,057		912

				5,567


France — 7.0%
Air Liquide		269		28
Alcatel-Lucent		354,159		916
Alstom		26,770		1,281
Arkema		4,829		202
BNP Paribas		88,912		5,579
Bureau Veritas		4,546		277
Casino Guichard Perrachon		670		54
Cegid Group		1,081		28
Christian Dior		2,876		292
Cie Generale de Geophysique- Veritas *		386		7
Cie Generale d’Optique Essilor International		1,081		66
CNP Assurances		63,264		1,077
Compagnie de St.-Gobain		8,738		323
Compagnie Generale des Etablissements Michelin, Cl B		6,611		492
Dassault Systemes		2,943		178
Eurazeo		1,578		92
Eutelsat Communications		42,493		1,532
France Telecom		16,217		331
Gaz de France		70,000		2,174
Gecina ‡		1,216		122
Groupe Eurotunnel		9,295		69
Hermes International		247		45
Ipsen		54,596		1,870
JC Decaux		5,573		133
Lagardere S.C.A.		1,180		43
Legrand		7,388		225


Description	Shares		Market Value ($ Thousands)

L’Oreal		3,630	$	362
LVMH Moet Hennessy Louis Vuitton		3,317		387
Natixis		194,188		1,061
NetGem		7,913		32
Pernod-Ricard		757		59
Peugeot		53,734		1,416
PPR		1,151		150
Publicis Groupe		4,551		191
Renault		21,902		892
Safran		35,775		882
Sanofi-Aventis		55,948		3,219
Schneider Electric		45,286		4,817
SES Global		3,635		84
Societe BIC		1,358		100
Societe Generale		16,795		858
Sodexo		36,475		2,102
Technip		2,287		150
Total		31,246		1,464
Vallourec		3,497		301
Video Futur Entertainment Group *(A)		7,913		2
Vivendi		110,289		2,581

				38,546


Germany — 7.7%
Adidas		23,823		1,216
Allianz		25,385		2,612
BASF		54,298		2,873
Bayer		4,178		256
Bayerische Motoren Werke		2,210		117
Beiersdorf		780		42
Commerzbank (A)		8,789		69
Continental		5,016		304
DaimlerChrysler		20,139		982
Deutsche Bank		40,718		2,566
Deutsche Boerse		31,866		1,953
Deutsche Post		58,795		964
Deutsche Telekom		130,785		1,727
E.ON		46,412		1,310
Fresenius		2,182		155
Fresenius Medical Care		71,861		4,081
GEA Group		85,564		1,783
Hannover Rueckversicherung		12,234		544
Henkel		11,188		451
Infineon Technologies *		254,403		1,423
Linde		32,854		3,712
MAN		3,203		276
Norddeutsche Affinerie		2,100		83
RWE		8,044		528
SAP (A)		5,693		249
SAP ADR		33,000		1,437
Siemens		54,378		4,961
Suedzucker		11,278		206
ThyssenKrupp		76,906		2,111
Tognum		88,108		1,613
TUI (A)		57,873		585
Volkswagen		341		31
Wincor Nixdorf		20,325		1,185

				42,405


Description	Shares		Market Value ($ Thousands)

Greece — 0.1%
Coca Cola Hellenic Bottling		2,087	$	50
Public Power		16,649		237

				287


Hong Kong — 3.1%
ASM Pacific Technology		30,200		244
Bank of East Asia		16,000		60
BOC Hong Kong Holdings		44,500		117
Cathay Pacific Airways		447,000		1,102
Cheung Kong Holdings		21,009		264
China Mobile		115,500		1,175
China Mobile ADR (A)		33,900		1,740
CLP Holdings		12,000		92
First Pacific		36,000		27
Genting Singapore *		462,000		576
Hang Lung Group		13,000		78
Hang Lung Properties		13,000		58
Hong Kong & China Gas		39,000		94
HongKong Electric Holdings		21,000		127
Hongkong Land Holdings		69,000		370
Hutchison Telecommunications Hong Kong Holdings		228,000		66
Hutchison Whampoa		138,000		1,020
Hysan Development (A)		30,635		97
Jardine Strategic Holdings		90,453		2,251
Kerry Properties		211,000		1,063
Li & Fung		84,000		426
Orient Overseas International		92,000		737
Pico Far East Holdings		202,000		36
Sun Hung Kai Properties		81,000		1,135
Swire Pacific, Cl A		228,000		2,748
Television Broadcasts		9,000		45
Vedan International Holdings		220,000		17
Wharf Holdings		78,000		420
Wheelock		215,383		622
Yue Yuen Industrial Holdings		29,000		95

				16,902


India — 0.6%
State Bank of India GDR		8,620		1,015
Tata Motors ADR (A)		96,945		2,076

				3,091


Ireland — 0.5%
Bank of Ireland		9,935		10
Experian		302,878		2,893
James Hardie Industries		3,321		16
Kerry Group, Cl A		1,440		47

				2,966


Israel — 0.9%
Bezeq Israeli Telecommunication		12,377		27
Israel Chemicals		4,203		53
Makhteshim-Agan Industries		313,462		1,079
Teva Pharmaceutical Industries		14,608		740
Teva Pharmaceutical Industries ADR		61,246		3,098

				4,997


Italy — 1.0%
Enel		435,169		2,080


Description	Shares		Market Value ($ Thousands)

ENI		27,249	$	543
Mediaset		165,617		1,029
Saipem		6,815		239
Servizi Italia		2,512		17
Snam Rete Gas		30,246		141
Telecom Italia		1,238,062		1,555
Terna Rete Elettrica Nazionale		18,930		76

				5,680


Japan — 17.3%
77 Bank		45,000		224
Able		1,500		13
Access		71		96
Aeon		94,400		1,008
Airport Facilities		14,700		53
Aisin Seiki		17,200		445
Alfresa Holdings		1,900		85
All Nippon Airways		41,000		148
Amada		16,000		95
Aozora Bank		63,000		85
Arnest One		4,000		40
Asahi Breweries		12,500		236
Asahi Glass		155,000		1,513
Asahi Kasei		65,000		321
Asics		3,000		28
Astellas Pharma		29,900		1,034
Autobacs Seven		1,400		53
Bando Chemical Industries		25,000		84
BML		3,500		89
Bridgestone		157,700		2,738
Brother Industries		86,300		927
Canon		20,400		832
Central Glass		20,000		73
Central Japan Railway		128		1,033
Chiba Bank		22,000		124
Chubu Electric Power		6,300		166
Chubu Shiryo		3,000		19
Chugoku Marine Paints		7,000		48
Citizen Holdings		18,000		92
Coca-Cola Central Japan		4,200		54
Cosmo Oil		213,000		510
Dai Nippon Printing		29,000		337
Daicel Chemical Industries		127,000		779
Daido Steel		47,000		223
Daihatsu Motor		33,000		417
Dai-ichi Life Insurance		66		78
Daiichikosho		5,100		78
Daikyo (A)		225,000		316
Daito Trust Construction		3,900		224
Daiwa House Industry		44,000		413
Dena (A)		55,300		1,658
Denki Kagaku Kogyo		32,000		129
Denso		7,900		214
Dentsu (A)		13,400		306
East Japan Railway		1,600		104
EDION		17,000		117
Elpida Memory *(A)		36,900		443
FamilyMart		2,400		87
Fanuc		11,000		1,182
Fast Retailing		1,300		179
Fuji Electric Holdings		205,000		508
Fuji Heavy Industries		180,000		1,012


Description	Shares		Market Value ($ Thousands)

Fuji Media Holdings		116	$	157
FUJI SOFT INC		2,400		37
FUJIFILM Holdings		41,800		1,269
Fujitsu		410,000		2,842
FuKoKu		2,800		22
Fukuoka Financial Group		27,000		108
Funai Electric		5,200		158
Geo		87		102
Gunma Bank		10,000		52
HAJIME CONSTRUCTION		4,400		121
Hanwa		65,000		235
Hino Motors		49,000		216
Hisamitsu Pharmaceutical		1,000		41
Hitachi		566,000		2,292
Hitachi Metals		3,000		32
Hokkaido Electric Power		2,000		45
Honda Motor		103,500		3,425
Hoya		4,700		104
Idemitsu Kosan		4,400		347
IHI		23,000		41
Iida Home Max		10,500		79
Imasen Electric Industrial		6,800		86
Inabata		36,200		172
Inpex		14		63
Isuzu Motors		126,000		419
IT Holdings		7,500		85
Itochu		28,900		236
Iyo Bank		2,000		17
J Front Retailing		7,000		33
Japan Real Estate Investment, Cl A ‡		4		36
Japan Retail Fund Investment, Cl A ‡		71		95
Japan Tobacco		45		140
JFE Shoji Holdings		25,000		86
Joshin Denki		7,000		66
JS Group		21,800		417
JSP		10,400		107
Jupiter Telecommunications		2,665		2,841
JX Holdings		173,670		877
Kamei		6,000		25
Kansai Electric Power		900		23
Kawasaki Heavy Industries		21,000		56
Kawasaki Kisen Kaisha		135,000		503
Kawasumi Laboratories		3,000		17
KDDI		380		1,833
Keihin Electric Express Railway		7,000		71
Kenedix		471		77
Keyence		500		104
Kinden		12,000		106
Kirin Holdings		2,000		28
Kobe Steel		133,000		276
Koito Manufacturing		3,000		42
Komatsu		10,800		219
Konica Minolta Holdings		4,500		39
Konishi		2,300		25
Kuraray		45,500		515
Kyocera		8,100		689
Makita		44,000		1,252
Marubeni		407,000		2,099
Marui Group		10,400		70


Description	Shares		Market Value ($ Thousands)

Maruichi Steel Tube		5,700	$	109
McDonald’s Holdings Japan		2,800		67
Medipal Holdings		28,600		356
Millea Holdings		700		19
Minebea		23,000		106
Mitsubishi		137,200		2,941
Mitsubishi Chemical Holdings		123,000		583
Mitsubishi Electric		91,000		726
Mitsubishi Gas Chemical		7,000		38
Mitsubishi UFJ Financial Group		148,000		707
Mitsubishi UFJ Lease & Finance		2,670		95
Mitsui		72,400		942
Mitsui Chemicals		272,000		697
Mitsui Mining & Smelting		68,000		183
Mitsui OSK Lines		62,000		390
Mizuho Financial Group		643,300		988
Murata Manufacturing		2,900		138
NEC Networks & System Integration		13,300		166
NGK Spark Plug		5,000		59
NHK Spring		50,000		415
Nichii Gakkan		32,400		278
Nichireki		10,000		39
Nidec		8,000		703
Nihon Shokuhin Kako		3,000		16
Nintendo		1,400		390
Nippon Electric Glass		272,100		3,049
Nippon Express		6,000		21
Nippon Meat Packers		41,000		492
Nippon Paper Group		1,000		26
Nippon Steel Trading		24,000		65
Nippon Synthetic Chemical Industry		8,000		42
Nippon Telegraph & Telephone		72,500		3,130
Nishi-Nippon City Bank		137,000		385
Nishio Rent All		2,900		18
Nissan Motor		141,700		1,084
Nisshin Fudosan		16,700		78
Nisshin Steel		83,000		133
Nisshinbo Holdings		2,000		19
Nissin Sugar Manufacturing		11,000		23
Nitori		1,850		161
Nitto Denko		8,200		263
NOK		6,600		100
NSK		70,000		418
NTT Data		33		103
NTT DoCoMo		20		34
Obayashi		22,000		84
Obic		740		139
Odakyu Electric Railway, Cl B		3,000		28
OJI Paper		24,000		114
Olympus		800		19
Omron		16,500		351
Oracle Japan		3,300		169
Oriental Land		3,900		346
ORIX		5,740		432
Panasonic Electric Works		6,000		79
Penta-Ocean Construction		114,000		150
Rakuten		130		98
Resona Holdings (A)		79,800		791
Rinnai		1,500		89


Description	Shares		Market Value ($ Thousands)

Roland		6,800	$	67
Ryoden Trading		7,000		38
S Foods		5,500		45
San-Ai Oil		16,000		65
Sankyo		30,600		1,549
Sanshin Electronics		8,000		68
Sapporo Hokuyo Holdings		230,100		1,085
Scroll		26,700		97
Sega Sammy Holdings		2,600		39
Seino Holdings		19,000		118
Sekisui Chemical		426,000		2,501
Sekisui Jushi		9,000		83
Seven & I Holdings		800		18
Shimadzu		7,000		47
Shimano		1,100		54
Shinko Shoji		800		7
Shinsei Bank (A)		303,000		231
Shiseido		23,600		531
Shizuoka Gas		10,500		66
SMC		1,800		222
Softbank		49,200		1,412
Sojitz		176,400		284
Sony		100,100		2,823
Sony Financial Holdings		67		219
Sumitomo		152,400		1,748
Sumitomo Electric Industries		44,200		475
Sumitomo Heavy Industries		74,000		343
Sumitomo Metal Mining		29,000		371
Sumitomo Mitsui Financial Group		38,900		1,158
Sumitomo Trust & Banking		5,000		27
Suzuken		1,600		55
Sysmex		2,600		165
T&K Toka		2,100		29
Tachi-S, Cl S		3,600		44
Taisei		12,000		24
Taisho Pharmaceutical		1,000		20
Takagi Securities		10,000		14
Takara Leben		21,000		105
Takashimaya		19,000		144
Takeda Pharmaceutical		18,700		860
Tanabe Seiyaku		9,000		141
TDK		7,700		403
Terumo		400		20
THK		3,100		51
Toho Gas		26,000		135
Tokyo Electric Power		4,600		134
Tokyo Electron		6,800		319
Tokyo Gas		41,000		192
Tokyu Community		1,500		42
Tomoku		20,000		47
Tomy		6,000		46
Tosei		112		36
Toshiba		4,000		19
Toshiba TEC		47,000		169
Tosoh		80,000		200
Totetsu Kogyo		13,000		76
TOTO		7,000		44
Toyo Tire & Rubber		29,000		58
Toyota Auto Body		9,000		135
Toyota Industries		4,900		123
Toyota Motor		7,700		262
Toyota Tsusho		30,600		438


Description	Shares		Market Value ($ Thousands)

Tsukishima Kikai		6,000	$	38
Unicharm (A)		29,000		3,540
Unipres (A)		7,400		115
Universe		3,600		54
UNY		5,000		37
USS		1,720		127
Yahoo! Japan		1,362		491
Yakult Honsha		2,400		72
Yamada Denki		830		52
Yamaha Motor		3,800		51
Yaskawa Electric		3,000		21

				95,263


Jersey — 0.1%
Randgold Resources		3,042		284


Macau — 0.1%
Sands China *		247,200		384
Wynn Macau *		157,900		272

				656


Mexico — 0.0%
Telefonos de Mexico ADR		17,708		247


Netherlands — 6.3%
Aegon		92,370		474
Akzo Nobel		38,765		2,053
ASML Holding		38,177		955
Boskalis Westminster		6,812		255
European Aeronautic Defense and Space		53,969		1,191
Fugro		34,981		1,975
Heineken		11,598		521
Heineken Holding		5,393		208
ING Groep		403,211		3,596
Koninklijke Ahold		220,773		2,726
Koninklijke DSM		36,182		1,508
Koninklijke Philips Electronics		72,043		2,024
Koninklijke Vopak		5,180		209
Randstad Holding		4,570		170
Reed Elsevier		1,543		19
Royal Dutch Shell, Cl A		98,671		2,630
Royal Dutch Shell, Cl A (GBP)		97,099		2,586
Royal Dutch Shell, Cl B		49,586		1,272
Royal KPN		169,111		2,459
TNT		84,930		2,162
Unilever		213,018		5,722

				34,715


New Zealand — 0.1%
Fletcher Building		17,200		90
Telecom of New Zealand		348,411		503

				593


Norway — 1.1%
Aker Kvaerner		5,304		58
Atea		11,500		74
DnB		392,226		4,341
Seadrill		12,194		285
Statoil		33,552		632


Description	Shares		Market Value ($ Thousands)

Telenor		62,600	$	919

				6,309


Portugal — 0.3%
Banco Espirito Santo		30,440		132
Energias de Portugal		272,697		832
Jeronimo Martins		43,279		479

				1,443


Singapore — 1.5%
CapitaMalls Asia		11,400		18
City Developments		3,000		24
CSE Global		78,000		55
DBS Group Holdings		155,000		1,588
Fraser and Neave		123,000		504
GP Batteries International		16,000		20
Ho Bee Investment		98,000		105
Jardine Cycle & Carriage		7,000		168
Keppel		21,000		139
Keppel Land		62,000		177
Oversea-Chinese Banking		300,000		1,920
SembCorp Marine		22,000		62
Singapore Airlines		114,000		1,271
Singapore Press Holdings		50,000		150
Singapore Technologies Engineering		115,000		272
Transpac Industrial Holdings		15,000		20
United Overseas Bank		14,000		193
UOL Group		131,000		386
Wheelock Properties Singapore		23,370		31
Wilmar International		37,000		171
Yangzijiang Shipbuilding Holdings		840,000		986

				8,260


South Africa — 0.3%
MTN Group		111,925		1,829


South Korea — 1.3%
Hyundai Mobis		15,365		2,781
LG Display ADR (A)		1,404		20
Samsung Electronics		2,642		1,666
Samsung SDI		6,978		978
Shinhan Financial Group		43,340		1,659

				7,104


Spain — 0.7%
Banco Bilbao Vizcaya Argentaria		12,918		156
Banco Santander Central Hispano		58,154		684
Enagas		4,167		74
Gas Natural		28,532		433
Inditex		20,334		1,361
Repsol		20,792		476
Telefonica		37,342		830

				4,014


Sweden — 2.1%
AarhusKarlshamn		2,841		56
Alfa Laval		22,125		325
Assa Abloy, Cl B		22,481		450


Description	Shares		Market Value ($ Thousands)

Atlas Copco, Cl A		50,393	$	768
Atlas Copco, Cl B		22,606		311
Bilia, Cl A		6,483		90
Boliden		4,204		48
Electrolux, Cl B		45,903		887
Elekta, Cl B		22,900		663
Getinge, Cl B		16,896		340
Hennes & Mauritz, Cl B		2,386		78
Industrivarden, Cl C		36,045		416
Kinnevik Investment, Cl B		18,215		332
Millicom International Cellular		2,635		243
Modern Times Group, Cl B		3,480		201
Nordea Bank		66,266		596
Ratos, Cl B		9,307		250
Sandvik		15,948		189
Scania, Cl B		48,618		900
Skandinaviska Enskilda Banken, Cl A		104,971		656
Skanska, Cl B		21,720		335
SKF, Cl B		23,151		417
Svenska Cellulosa, Cl B		1,087		14
Svenska Handelsbanken, Cl A		64,684		1,694
Swedbank		25,010		281
Swedish Match		9,904		229
Tele2, Cl B		22,718		410
Telefonaktiebolaget LM Ericsson, Cl B		8,043		78
TeliaSonera		5,979		43
Volvo, Cl B		20,959		244

				11,544


Switzerland — 7.5%
ABB		1,454		28
Adecco		1,190		56
Aryzta		1,309		56
Clariant		8,066		104
Coltene Holding		472		25
Compagnie Financiere Richemont		20,524		799
Credit Suisse Group		90,722		3,990
Emmi		200		32
Geberit		2,183		352
Givaudan		2,836		2,713
Holcim		1,434		86
Informa		281,037		1,657
Kaba Holding		74		21
Kuehne & Nagel International		1,405		147
Nestle		123,785		6,421
Novartis		147,337		7,752
Roche Holding		31,113		4,234
Schindler Holding		10,853		1,080
SGS		1,755		2,544
Sika		130		229
Sonova Holding		3,633		466
STMicroelectronics		74,105		495
Sulzer		20,811		2,067
Swatch Group		10,635		630
Swatch Group, Cl B		2,608		841
Swiss Life Holding		741		77
Swisscom		707		275
UBS		147,866		2,505
Xstrata		28,143		444


Description	Shares		Market Value ($ Thousands)

Zurich Financial Services		4,660	$	1,041

				41,167


Taiwan — 0.1%
United Microelectronics ADR (A)		241,944		622


Thailand — 0.4%
Kasikornbank		591,200		2,145


Turkey — 0.4%
Turkiye Garanti Bankasi		477,431		2,320


United Kingdom — 18.5%
3i Group		188,762		756
Admiral Group		15,158		355
Aggreko		18,913		413
Amec		161,091		2,271
Amlin		355,061		2,218
Anglo American		13,706		493
Antofagasta		115,439		1,831
ARM Holdings		94,951		535
Associated British Foods		48,492		789
AstraZeneca		82,385		4,087
Autonomy *		5,140		123
Aviva		122,255		712
Babcock International Group		33,487		260
BAE Systems		273,777		1,240
Barclays		309,290		1,437
BG Group		249,960		4,032
BHP Billiton		10,768		303
BP		522,401		3,055
British American Tobacco		47,142		1,606
British Sky Broadcasting Group		14,827		161
BT Group, Cl A		94,425		193
Bunzl		21,028		230
Burberry Group		35,768		467
Cairn Energy *		711,776		5,113
Cape *		40,705		169
Carnival		9,910		322
Centrica		43,265		216
Cobham		31,099		100
Compass Group		105,259		863
Davis Service Group PLC		60,400		353
Diageo		83,877		1,365
Education Development International		15,291		22
Eurasian Natural Resources		160,690		2,094
Fresnillo		7,753		130
GlaxoSmithKline		121,085		2,272
Healthcare Locums		18,106		39
Hogg Robinson Group		38,599		18
Home Retail Group		95,283		320
HSBC Holdings		539,582		5,308
ICAP		141,535		892
Imperial Tobacco Group		69,451		1,921
Inmarsat		27,888		287
Intercontinental Hotels Group		21,329		322
International Power		270,711		1,545
Investec		47,588		344


Description	Shares		Market Value ($ Thousands)

Johnson Matthey		1,001	$	25
Kazakhmys		7,602		135
Kingfisher		1,278,884		4,020
Legal & General Group		215,993		307
Lloyds Banking Group		3,113,880		3,326
Morgan Sindall		3,027		28
Next		35,002		1,065
Old Mutual		46,576		91
Pearson		55,808		834
Petrofac		16,539		356
Prudential		70,734		615
Reckitt Benckiser Group		16,654		835
Reed Elsevier		218,275		1,758
Rexam		36,843		171
Rio Tinto		114,326		5,798
Rolls-Royce Group		77,291		658
Royal Bank of Scotland Group *		1,540,642		1,056
SABMiller		34,095		973
Sage Group		941,969		3,546
Savills		8,095		38
Schroders		6,654		140
Serco Group		30,719		275
Severn Trent		11,592		231
Shire		39,741		859
Smith & Nephew		146,866		1,224
Smiths Group		23,932		421
Standard Chartered		10,588		284
Tesco		665,373		4,162
Tomkins		51,628		257
Travis Perkins		55,327		648
Tullett Prebon		45,738		260
Tullow Oil		93,206		1,745
Unilever		46,475		1,230
United Utilities Group		16,246		143
Vedanta Resources		7,972		232
Vodafone Group		3,943,553		9,525
Whitbread		13,045		280
Willis Group Holdings		55,300		1,608
WM Morrison Supermarkets		80,864		360
WPP		77,755		772

				101,873


United States — 0.6%
AmeriCredit *		5,135		124
BGC Partners, Cl A		8,210		42
Buckeye Technologies		3,802		45
Capital One Financial		7,071		268
Central Garden and Pet *		4,700		44
Clearwater Paper *		1,900		129
Eli Lilly		46,518		1,561
Gladstone Capital		3,886		41
Horace Mann Educators		15,621		256
JPMorgan Chase		7,812		284
Kemet *		11,358		31
M&F Worldwide *		1,500		35
Omnova Solutions *		5,400		33
Pre-Paid Legal Services *(A)		1,600		87
RAIT Financial Trust‡ *(A)		64,752		87

				3,067

Total Common Stock (Cost $520,231) ($ Thousands)				529,805


Description	Shares/Face Amount ($ Thousands)		Market Value ($ Thousands)

PREFERRED STOCK — 0.5%

Germany — 0.5%
Draegerwerk		1,189	$	94
Fresenius		4,583		327
Henkel		38,957		1,837
KSB		173		105
STO		300		28
Volkswagen		3,075		307

Total Preferred Stock (Cost $2,657) ($ Thousands)				2,698


WARRANTS — 0.3%

India — 0.3%
Shriram Transport Finance, Expires 2014 *(E)		100,799		1,530

Total Warrants (Cost $1,287) ($ Thousands)				1,530


U.S. TREASURY OBLIGATION (B)(C) — 0.6%
U.S. Treasury Bill
0.035%, 12/16/10	$	3,267		3,266

Total U.S. Treasury Obligation (Cost $3,265) ($ Thousands)				3,266


CASH EQUIVALENT — 1.4%

United States — 1.4%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200%**†		7,452,182		7,452

Total Cash Equivalent (Cost $7,452) ($ Thousands)				7,452


AFFILIATED PARTNERSHIP — 3.0%

United States — 3.0%
SEI Liquidity Fund, L.P.,
0.250%**†(D)		17,357,181		16,595

Total Affiliated Partnership (Cost $17,357) ($ Thousands)				16,595

Total Investments — 102.0% (Cost $552,249)($ Thousands) ††			$	561,346

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)		Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
DJ Euro Stoxx 50 Index		183		Sep-2010	$	81
FTSE Index		58		Sep-2010		196
Hang Seng Index		3		Sep-2010		(4	)
Nikkei 225 Index		8		Sep-2010		(25	)
SPI 200 Index		12		Sep-2010		26
Topix Index		30		Sep-2010		(36	)

					$	238

A summary of the outstanding forward foreign currency contracts held by the Fund at August 31, 2010, is as follows:


Maturity Date	Currency to Deliver ($ Thousands)			Currency to Receive ($ Thousands)			Unrealized\ Appreciation (Depreciation) ($ Thousands)
9/1/10		USD	1,379		JPY	117,067	$	15
9/7/10-11/13/10		JPY	249,712		USD	2,969		(5	)

							$	10

A summary of the counterparties for the outstanding forward foreign currency contracts held by the Fund at August 31, 2010, is as follows:


Counterparty	Currency to Deliver ($ Thousands)			Currency to Receive ($ Thousands)		Unrealized Appreciation (Depreciation) ($ Thousands)
Chase Manhattan	$	(1,379	)	$	1,394	$	15
Brown Brothers Harriman		(2,974	)		2,969		(5	)

						$	10

Percentages are based on a Net Assets of $550,501 ($ Thousands)

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $552,249 ($ Thousands), and the unrealized appreciation and depreciation were $35,542 ($ Thousands) and $(26,445)($ Thousands), respectively.

(A)

This security or a partial position of this security is on loan at August 31, 2010. The total value of securities on loan at August 31, 2010 was $15,462 ($ Thousands).

(B)

Zero coupon security. The rate reported is the effective yield at time of purchase.

(C)

Security, or a portion thereof, has been pledged as collateral on open futures contracts.

(D)

This security was purchased with cash collateral held from securities on loan. The total value of such securities as of August 31, 2010 was $ 16,595 ($ Thousands)

(E)

ADR — American Depositary Receipt

Cl — Class

DJ — Dow Jones

FTSE — Financial Times and London Stock Exchange

GBP — Great British Pounds

GDR — Global Depositary Receipt

JPY — Japanese Yen

L.P. — Limited Partnership

PLC — Public Limited Company

SPI — Stock Price Index

USD — U.S. Dollars

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	529,805	$	—	$	—	$	529,805
Preferred Stock		2,698		—		—		2,698
Warrants		—		1,530		—		1,530
U.S. Treasury Obligation		—		3,266		—		3,266
Cash Equivalent		7,452		—		—		7,452
Affiliated Partnership		—		16,595		—		16,595

Total Investments in Securities	$	539,955	$	21,391	$	—	$	561,346


Other Financial Instruments	Level 1		Level 2		Level 3		Total
Futures Contracts*	$	238	$	—	$	—	$	238
Forwards Contracts*		—		10		—		10

Total Other Financial Instruments	$	238	$	10	$	—	$	248

Futures contracts and forwards contracts are valued at the unrealized appreciation on the instrument.

For the period ended August 31, 2010, the transfers out of Level 1 and into Level 2 were $ — ($ Thousands) and the transfers out of Level 2 into Level 1 were $109,092 ($ Thousands). The transfers were related to the fair value of certain international securities.

Amounts designated as “—” are $0 or have been rounded to $0.


Description	Shares		Market Value ($ Thousands)

COMMON STOCK — 91.2%

Argentina — 0.0%
Tenaris ADR		30,999	$	1,043


Australia — 3.0%
Aditya Birla Minerals *		166,691		130
Amcor		122,000		732
Australia & New Zealand Banking Group ADR		741,400		14,991
Australia & New Zealand Banking Group		78,925		1,587
Beach Energy		1,020,311		595
Bendigo Bank		79,124		594
BGP Holdings *		239,898		—
BHP Billiton		695,641		22,940
Caltex Australia		736,843		7,372
Coal & Allied Industries		3,073		267
Coca-Cola Amatil		286,676		3,044
Commonwealth Bank of Australia		13,290		595
Fairfax Media (A)		377,445		484
Fortescue Metals Group *		328,176		1,367
ING Industrial Fund ‡		668,652		271
Intoll Group		212,813		279
Lend Lease Group		142,059		878
National Australia Bank		89,441		1,847
New Hope (A)		252,430		1,040
OneSteel		1,108,006		2,840
Orica		62,078		1,384
Origin Energy		219,141		2,974
OZ Minerals *		1,955,167		2,123
Rio Tinto		299,850		18,706
Santos		733,847		9,275
SP AusNet, Cl Miscellaneous		1,290,947		919
Stockland ‡		905,928		3,177
Straits Resources		49,151		66
Suncorp-Metway		149,842		1,114
TABCORP Holdings		80,003		455
Telstra ADR (A)		1,087,700		13,346
Westfield Group ‡		367,123		4,087

				119,479


Austria — 0.1%
IMMOFINANZ		288,780		947
OMV		25,031		809
Voestalpine		36,969		1,100

				2,856


Belgium — 0.8%
Delhaize Group (A)		11,030		742
Delhaize Group ADR		321,500		21,527
D’ieteren		1,877		885
InBev		147,733		7,707
KBC Groep		37,005		1,541
Telenet Group Holding		36,613		1,096

				33,498


Description	Shares		Market Value ($ Thousands)

Bermuda — 1.1%
Axis Capital Holdings		472,600	$	14,594
Catlin Group		110,899		560
Frontline		246,400		6,530
RenaissanceRe Holdings		389,700		22,131

				43,815


Brazil — 4.0%
Banco Bradesco ADR (A)		784,400		13,829
Banco do Brasil		120,182		1,945
BM&F Bovespa SA		2,071,700		15,060
Cia de Saneamento Basico do Estado de Sao Paulo ADR (A)		745,795		28,340
Cia Paranaense de Energia ADR (A)		1,025,600		22,809
Cia Vale do Rio Doce		272,900		7,255
Empresa Brasileira de Aeronautica ADR		263,500		6,532
Empresa Brasileira de Aeronautica		259,600		1,582
Fleury		212,700		2,613
Hypermarcas *		216,000		2,850
Iguatemi Empresa de Shopping Centers		125,000		2,441
Julio Simoes Logistica *		270,600		1,311
Lojas Renner		98,400		3,226
Natura Cosmeticos		455,000		11,108
Petroleo Brasileiro		439,900		7,371
Petroleo Brasileiro ADR (A)		769,400		25,660
SLC Agricola		201,367		1,847
Totvs		23,700		1,757
Wilson Sons, Cl BDR		110,980		1,462

				158,998


Canada — 6.7%
Agrium		264,700		18,418
Alimentation Couche Tard, Cl B		31,930		685
Bank of Montreal (A)		142,425		7,867
Bank of Nova Scotia		118,300		5,686
Barrick Gold		100,000		4,684
BCE (A)		66,600		2,084
Brookfield Asset Management, Cl A		131,194		3,376
Brookfield Properties (A)		118,700		1,701
Canadian Imperial Bank of Commerce (A)		56,100		3,814
Canadian National Railway		444,428		27,119
Canadian Natural Resources		725,800		23,346
Canadian Pacific Railway		67,400		3,970
Canadian Tire, Cl A		9,700		503
Cascades		32,900		195
Celestica *		85,800		647
Cenovus Energy		93,219		2,508
Centerra Gold		109,500		1,537
CGI Group, Cl A *		338,909		4,685
Domtar (A)		59,590		3,577
Dorel Industries, Cl B		33,200		1,090
Eldorado Gold		21,600		424
Empire, Cl A		10,300		526
Enbridge		94,580		4,705


Description	Shares		Market Value ($ Thousands)

EnCana (A)		386,513	$	10,602
Ensign Energy Services		6,000		65
Fairfax Financial Holdings		3,800		1,507
Franco-Nevada		10,800		322
George Weston		9,982		764
Gildan Activewear *		140,298		3,848
IAMGOLD		96,832		1,816
IESI-BFC		28,500		675
Intact Financial		6,800		283
Loblaw		10,900		445
Lundin Mining *		471,200		1,874
Magna International, Cl A (A)		158,480		12,334
Manulife Financial (A)		48,400		539
MDS *		47		—
Metro, Cl A (A)		56,300		2,383
National Bank of Canada		12,600		728
Nexen		756,543		14,005
Norbord *		48,403		506
Northgate Minerals *		241,700		730
Onex		58,200		1,532
Pacific Rubiales Energy *		50,458		1,190
Petrobank Energy & Resources *		43,300		1,501
Potash Corp of Saskatchewan		80,750		11,890
Potash Saskatchewan		30,500		4,491
Quebecor, Cl B		24,700		754
Research In Motion *		187,633		8,042
Rogers Communications, Cl B (A)		135,700		4,710
Royal Bank of Canada (A)		21,900		1,047
Saputo		72,000		2,291
SEMAFO *		97,100		796
Sherritt International		154,100		990
Sino-Forest, Cl A *		55,463		955
SXC Health Solutions *		2,500		196
Teck Cominco, Cl B		128,703		4,305
Tesco ADR		23,996		238
Toronto-Dominion Bank (A)		381,598		25,787
Transat AT, Cl B *		300		3
TransCanada		208,800		7,442
West Fraser Timber		12,000		417
Yamana Gold		1,454,600		14,709
Yellow Pages Income Fund (A)		80,540		390

				270,249


Chile — 0.1%
Banco Santander Chile ADR		7,648		660
Enersis ADR		109,089		2,400
ENTEL Chile		140,414		2,257

				5,317


China — 2.3%
Air China, Cl H		2,582,000		2,755
AirMedia Group ADR *		202,106		738
Ajisen China Holdings		1,795,909		2,692
China Construction Bank, Cl H		8,649,000		7,138
China Life Insurance, Cl H		1,734,000		6,621
China Merchants Bank, Cl H (A)		6,087,150		15,690
China Petroleum & Chemical, Cl H		8,260,000		6,541
China Railway Construction, Cl H		1,086,500		1,386
China Telecom, Cl H		1,710,000		827
Dongfeng Motor Group, Cl H		1,846,000		2,867


Description	Shares		Market Value ($ Thousands)

Industrial & Commercial Bank of China		21,044,000	$	15,286
Luthai Textile		142,800		122
Mindray Medical International ADR		80,060		2,162
Shanghai Friendship Group, Cl B		241,620		348
Sinopharm Group, Cl H		2,506,786		9,555
Tingyi Cayman Islands Holding		1,234,000		3,119
Yangzijiang Shipbuilding Holdings		5,386,000		6,321
Yanzhou Coal Mining ADR		328,200		6,764
Zhuzhou CSR Times Electric, Cl H		1,109,000		2,880

				93,812


Cyprus — 0.0%
Eurasia Drilling GDR		57,349		1,136


Czech Republic — 0.1%
CEZ		49,926		2,099
Komercni Banka		8,077		1,563

				3,662


Denmark — 1.3%
A P Moeller - Maersk, Cl A		12		89
A P Moeller - Maersk, Cl B		72		544
Carlsberg, Cl B		81,958		7,745
Coloplast, Cl B		24,295		2,592
Danisco		41,892		3,032
Novo-Nordisk, Cl B		373,307		32,123
Vestas Wind Systems *		198,701		7,436

				53,561


Egypt — 0.1%
Egyptian Financial Group-Hermes Holding		485,580		2,460
Orascom Construction Industries		35,098		1,549

				4,009


Finland — 1.0%
Fortum		169,444		3,913
Kone, Cl B		92,891		4,284
Metso		39,901		1,462
Nokia ADR (A)		811,800		6,949
Orion, Cl B		72,496		1,329
Sampo, Cl A		360,914		8,720
Stora Enso, Cl R		1,156,012		8,941
UPM-Kymmene		435,557		5,995

				41,593


France — 5.6%
Air Liquide		153,076		15,965
Arkema		62,788		2,622
BNP Paribas		358,589		22,500
Bureau Veritas		14,534		887
Casino Guichard Perrachon		6,131		498
Christian Dior		6,157		625
Compagnie de St.-Gobain		31,142		1,149
Compagnie Generale des Etablissements Michelin, Cl B		16,992		1,266
Dassault Systemes		36,759		2,223
Eutelsat Communications		29,895		1,078
Fonciere Des Regions‡		2,578		241


Description	Shares		Market Value ($ Thousands)

France Telecom (A)		23,178	$	473
France Telecom ADR (A)		1,020,400		20,714
Havas		378,721		1,742
Lafarge		175,873		8,126
Lagardere S.C.A.		29,160		1,054
Legrand		1,256		38
L’Oreal		3,050		304
LVMH Moet Hennessy Louis Vuitton		179,678		20,957
Natixis		810,869		4,432
Neopost		3,722		264
Pernod-Ricard		4,662		366
Peugeot		321,328		8,466
PPR		17,605		2,299
Publicis Groupe		137,200		5,763
Renault		135,321		5,514
Rhodia		375,418		7,076
Safran		316,785		7,807
Sanofi-Aventis		276,326		15,899
Schneider Electric		82,076		8,730
SEB		8,776		647
SES Global		19,637		452
Societe Generale		131,658		6,723
Sodexo		4,274		246
Technip ADR		222,600		14,580
Technip		29,041		1,908
Total		197,753		9,267
Valeo		163,159		5,711
Vallourec		16,018		1,380
Vinci		46,000		2,024
Vivendi		612,578		14,333

				226,349


Germany — 4.9%
Adidas		81,832		4,177
ADVA Optical Networking *		49,708		267
Allianz		174,260		17,926
BASF		455,925		24,126
Bayer		29,952		1,834
Bayerische Motoren Werke		51,086		2,705
Bilfinger Berger		24,216		1,448
Continental		51,402		3,116
DaimlerChrysler		177,984		8,678
Deutsche Bank		395,603		24,928
Deutsche Lufthansa		79,908		1,265
Deutsche Post		276,203		4,530
Deutsche Telekom		803,198		10,606
E.ON		51,538		1,454
Fresenius Medical Care		237,246		13,472
Hannover Rueckversicherung		79,639		3,543
Henkel		4,825		194
Infineon Technologies *		1,291,069		7,222
Lanxess		31,474		1,378
Linde		13,141		1,485
MAN		12,536		1,082
Merck KGaA		1,981		173
Metro		26,966		1,377
MTU Aero Engines Holding		30,040		1,676
Norddeutsche Affinerie		38,588		1,537
RWE		25,450		1,672
SAP		566,005		24,786
Siemens ADR (A)		151,800		13,742


Description	Shares		Market Value ($ Thousands)

Siemens		133,999	$	12,225
Suedzucker (A)		122,611		2,242
TUI (A)		146,226		1,479
Volkswagen		1,351		123

				196,468


Greece — 0.0%
OPAP		31,790		483
Public Power		57,700		823

				1,306


Guernsey — 0.2%
Amdocs *		355,200		9,317


Hong Kong — 2.8%
ASM Pacific Technology		115,600		935
Chaoda Modern Agriculture		3,378,000		2,519
Cheung Kong Holdings		42,000		529
China Dongxiang Group		4,322,000		2,278
China Mobile		2,375,500		24,172
CLP Holdings		1,171,000		8,965
CNOOC		14,128,000		24,411
First Pacific		1,406,000		1,047
Genting Singapore *		1,933,000		2,411
GOME Electrical Appliances Holdings		10,229,300		3,104
Hong Kong & China Gas		42,000		101
Hong Kong Exchanges and Clearing		968,200		15,173
Hongkong Land Holdings		372,007		1,998
Huabao International Holdings		3,481,000		5,084
Hutchison Telecommunications Hong Kong Holdings		1,170,000		338
Hutchison Whampoa		253,450		1,874
Hysan Development (A)		43,000		136
Jardine Matheson Holdings		4,400		191
Jardine Strategic Holdings		29,000		721
Midland Holdings		720,000		574
New World Development		1,329,000		2,132
Orient Overseas International		130,500		1,045
Polytec Asset Holdings		1,560,000		253
RCG Holdings *		137,229		88
Sun Hung Kai Properties		132,000		1,850
Swire Pacific, Cl A		39,500		476
TPV Technology		1,266,000		755
Wharf Holdings		862,342		4,639
Wheelock		393,270		1,135
Yue Yuen Industrial Holdings		715,000		2,344

				111,278


Hungary — 0.2%
MOL Hungarian Oil and Gas		18,064		1,678
OTP Bank		206,777		4,382

				6,060


India — 1.4%
Allahabad Bank		609,253		2,707
Andhra Bank		400,782		1,294
Axis Bank		24,339		689
Bank of India		204,388		1,922


Description	Shares		Market Value ($ Thousands)

Cairn India *		433,067	$	3,062
Dena Bank (A)		255,022		557
HDFC Bank		158,670		7,199
ICICI Bank		75,002		1,559
IDBI Bank		593,756		1,534
India Cements		862,364		1,962
Indian Bank		87,100		460
Indian Overseas Bank		346,850		919
Infosys Technologies		81,582		4,707
LIC Housing Finance		76,071		1,945
Nagarjuna Construction		559,244		1,837
Oil & Natural Gas		34,441		979
Oriental Bank of Commerce		270,872		2,444
Power Finance		388,746		2,885
Reliance Infrastructure		86,820		1,849
Sesa Goa *		88,410		597
Sonata Software		73,006		66
State Bank of India GDR		4,006		472
State Bank of India		182,515		10,734
UCO Bank		323,974		767
Union Bank of India		208,955		1,461
Vijaya Bank		396,817		666
Welspun		439,556		2,178
Zuari Industries		8,087		120

				57,571


Indonesia — 0.5%
Astra International		1,104,500		5,819
Bank Mandiri		5,352,000		3,495
Bank Negara Indonesia Persero		3,295,000		1,267
Bank Rakyat Indonesia		2,186,500		2,251
Gudang Garam		42,000		183
HM Sampoerna		17,500		38
Indocement Tunggal Prakarsa		1,657,920		3,239
Telekomunikasi Indonesia		3,355,000		3,212

				19,504


Ireland — 1.0%
Accenture, Cl A		184,200		6,742
Covidien		567,800		20,066
CRH ADR (A)		748,900		11,735

				38,543


Israel — 1.1%
Bank Hapoalim *		1,380,018		5,643
Bank Leumi Le-Israel		405,369		1,678
Check Point Software Technologies *(A)		87,880		3,066
Israel Discount Bank, Cl A *		1,137,803		2,011
Teva Pharmaceutical Industries		14,485		733
Teva Pharmaceutical Industries ADR		620,591		31,390

				44,521


Italy — 1.2%
Banca Intesa		2,766,592		7,788
Enel		3,673,300		17,554
ENI		164,634		3,279
Indesit		34,599		334
Mediaset		143,200		890
Parmalat		3,511,796		8,476


Description	Shares		Market Value ($ Thousands)

Saipem		53,916	$	1,893
Snam Rete Gas		116,189		540
Telecom Italia		4,015,256		4,921
Terna Rete Elettrica Nazionale		265,875		1,072

				46,747


Japan — 10.9%
77 Bank		155,000		772
Aeon		251,600		2,688
Aeon Fantasy		5,000		48
Aisin Seiki		20,900		541
Alfresa Holdings		22,000		981
Aozora Bank		155,000		209
Arnest One		58,500		591
Asahi Breweries		77,200		1,457
Asahi Glass (A)		999,000		9,756
Asahi Kasei		512,000		2,531
Astellas Pharma		220,500		7,623
Bank of Yokohama		467,744		2,033
Bridgestone		35,100		609
Brother Industries		88,900		955
Canon		375,616		15,321
Central Japan Railway		541		4,368
Chiba Bank		284,574		1,603
Cosmo Oil		268,000		641
Daicel Chemical Industries		779,219		4,779
Daido Steel		39,000		185
Dai-ichi Life Insurance		5,940		7,024
Daiichi Sankyo		24,200		484
Daiichikosho		23,200		357
Daikyo (A)		963,000		1,353
Daito Trust Construction		58,100		3,335
Daiwa House Industry		339,000		3,182
Dena (A)		212,100		6,360
Denki Kagaku Kogyo		170,000		684
Denso		71,200		1,932
Disco		20,906		1,045
EDION (A)		125,700		867
Eisai		45,900		1,656
Elpida Memory *(A)		24,500		294
Fanuc (A)		182,600		19,615
Fuji Electric Holdings		527,000		1,305
Fuji Heavy Industries		1,117,000		6,279
Fuji Heavy Industries ADR		134,600		7,481
FUJIFILM Holdings		133,400		4,051
Fujitsu ADR (A)		221,700		7,731
Fujitsu		1,426,000		9,883
Fukuoka Financial Group		104,000		416
Gunma Bank		18,000		93
Hanwa		90,000		326
Hino Motors		235,000		1,035
Hitachi (A)		5,367,000		21,731
Honda Motor		87,170		2,885
Idemitsu Kosan		32,300		2,546
IHI		763,000		1,354
Inpex		207		937
Isuzu Motors		106,000		352
IT Holdings		29,900		338
Itochu Techno-Solutions		20,400		665
JFE Holdings		62,406		1,844
JS Group		4,400		84
JSR		80,200		1,182


Description	Shares		Market Value ($ Thousands)

JX Holdings		908,760	$	4,589
Kaken Pharmaceutical		85,000		921
Kewpie		40,600		514
Keyence		16,300		3,380
Kinden		13,000		115
Kobe Steel		611,000		1,266
Komatsu		807,500		16,396
K’s Holdings		110,300		2,384
Kuraray		121,500		1,376
Kyocera		43,200		3,673
Lintec		5,600		114
Maeda Road Construction		71,000		512
Marubeni		2,377,819		12,261
Maruichi Steel Tube		10,100		192
Medipal Holdings		159,500		1,987
Millea Holdings		81,800		2,196
Minebea		134,000		618
Miraca Holdings		50,400		1,689
Mitsubishi		173,166		3,712
Mitsubishi Chemical Holdings		365,000		1,730
Mitsubishi Electric		344,000		2,745
Mitsubishi UFJ Financial Group (A)		4,006,786		19,134
Mitsui		492,800		6,415
Mitsui ADR		52,300		13,441
Mitsui Chemicals		1,465,000		3,751
Mitsui Mining & Smelting		422,000		1,136
Mitsui OSK Lines (A)		1,004,000		6,313
Mitsui Trust Holdings		220,000		781
Mizuho Financial Group		2,703,000		4,152
Murata Manufacturing		3,500		166
Nagase		53,000		574
NEC Networks & System Integration		39,800		496
NHK Spring		131,000		1,087
Nichii Gakkan		33,900		291
Nidec		26,700		2,347
Nippo		62,000		407
Nippon Electric Glass		155,000		1,737
Nippon Flour Mills		78,000		403
Nippon Light Metal		524,000		836
Nippon Meat Packers		210,000		2,523
Nippon Paper Group		76,500		1,988
Nippon Steel		217,000		716
Nippon Telegraph & Telephone		407,000		17,570
Nishi-Nippon City Bank		265,000		745
Nissan Motor		808,680		6,183
Nitori		1,650		144
Nitto Denko		113,400		3,638
Nojima		3,545		23
Noritsu Koki		8,200		46
NSK		213,000		1,271
NTT Data		447		1,399
NTT DoCoMo		2,401		4,066
Obic		2,890		544
Omron		67,100		1,428
Oriental Land		13,800		1,224
ORIX		55,770		4,198
Osaka Gas		260,000		981
Resona Holdings (A)		362,300		3,590
Saizeriya		56,700		1,105
Sapporo Hokuyo Holdings		290,300		1,369


Description	Shares		Market Value ($ Thousands)

Sega Sammy Holdings		119,300	$	1,772
Seika		23,000		50
Seino Holdings		165,000		1,028
Shinsei Bank (A)		711,000		542
Shiseido		80,800		1,817
Showa Shell Sekiyu		68,300		495
SMC		22,800		2,813
Softbank		169,300		4,861
Sojitz		1,141,600		1,835
Sony		234,700		6,619
Sumitomo		379,711		4,355
Sumitomo Electric Industries		206,300		2,219
Sumitomo Heavy Industries		441,760		2,046
Sumitomo Metal Mining		62,000		794
Sumitomo Mitsui Financial Group (A)		238,909		7,116
Sumitomo Trust & Banking		178,000		947
Suzuken		3,100		107
Takeda Pharmaceutical		74,000		3,402
Takefuji (A)		337,950		813
TDK		39,516		2,071
Toagosei		190,000		720
Tokyo Electron		22,500		1,056
Tokyo Energy & Systems		14,000		96
Tokyo Gas		486,000		2,269
Tokyo Tekko		30,000		64
Toshiba TEC		168,000		602
Toyo Seikan Kaisha		90,300		1,438
Toyota Industries		11,400		287
Toyota Motor (A)		405,206		13,801
Toyota Tsusho		49,300		706
Unicharm (A)		25,100		3,064
Warabeya Nichiyo		6,500		77
Watabe Wedding		7,955		83
West Japan Railway		373		1,386
Yahoo! Japan		6,371		2,295
Yamada Denki		16,410		1,022
Yokohama Rubber		153,000		703
Zeon		504,000		3,397

				437,753


Kazakhstan — 0.1%
KazMunaiGas Exploration Production GDR		109,447		1,931


Macau — 0.1%
Sands China *		580,400		901
Wynn Macau*		598,800		1,033

				1,934


Malaysia — 0.5%
Affin Holdings (F)		236,400		230
Axiata Group *(F)		2,627,700		3,714
CIMB Group Holdings (F)		4,392,000		10,860
EON Capital *(F)		119,600		264
Hong Leong Bank (F)		293,133		822
Hong Leong Financial Group (F)		94,700		261
Malayan Banking (F)		341,000		907
Proton Holdings *(F)		131,700		192
Public Bank (F)		152,464		584
RHB Capital (F)		764,700		1,609


Description	Shares		Market Value ($ Thousands)

Telekom Malaysia (F)		2,081,500	$	2,337

				21,780


Mexico — 1.7%
Alfa, Cl A		150,804		1,030
America Movil, Ser L		7,245,074		16,993
America Movil ADR, Ser L (A)		251,150		11,711
Bolsa Mexicana de Valores *		903,185		1,420
Coca-Cola Femsa ADR (A)		204,900		15,382
Grupo Financiero Banorte, Ser O		576,359		2,068
Grupo Lamosa *		17,900		17
Grupo Televisa		519,013		1,926
Telefonos de Mexico		436,600		305
Urbi Desarrollos Urbanos *		967,216		1,824
Wal-Mart de Mexico		5,848,500		13,295

				65,971


Netherlands — 3.3%
Aegon		414,196		2,126
Akzo Nobel		27,726		1,468
ArcelorMittal		101,433		2,968
ASML Holding		41,086		1,027
CSM		25,253		658
European Aeronautic Defense and Space (A)		254,525		5,617
Heineken		58,155		2,612
Heineken Holding		2,652		103
ING Groep		1,795,294		16,013
Koninklijke Ahold		433,395		5,351
Koninklijke DSM		211,337		8,809
Koninklijke Philips Electronics		388,653		10,922
Nutreco Holding		25,359		1,476
Royal Dutch Shell ADR, Cl A (A)		389,100		20,642
Royal Dutch Shell, Cl B		293,212		7,519
Royal Dutch Shell, Cl A		633,149		16,878
Royal Dutch Shell, Cl A (GBP)		425,456		11,332
Royal KPN		600,059		8,725
Unilever		252,691		6,788

				131,034


Netherlands Antilles — 0.3%
Schlumberger (A)		215,250		11,479


New Zealand — 0.0%
Telecom of New Zealand		1,145,450		1,653


Norway — 1.0%
DnB		590,454		6,534
Marine Harvest (A)		5,142,521		3,932
Statoil ADR		1,077,300		20,189
Statoil (A)		316,924		5,967
Telenor		206,656		3,034

				39,656


Pakistan — 0.0%
Pakistan Telecommunication		1,439,600		315


Description	Shares		Market Value ($ Thousands)

Panama — 0.2%

Copa Holdings, Cl A		140,700	$	6,863


Peru — 0.1%
Credicorp		49,947		5,257


Poland — 0.2%
Bank Zachodni WBK		13,272		792
Getin Holding*		185,131		565
KGHM Polska Miedz		89,408		3,037
Netia*		107,362		164
Polski Koncern Naftowy Orlen		291,574		3,603

				8,161


Portugal — 0.2%
Energias de Portugal		1,196,053		3,648
Inapa-Invest Particip Gesta*		122,900		74
Jeronimo Martins		179,473		1,988
Portugal Telecom		120,865		1,420

				7,130


Russia — 0.4%
Alliance Oil *		129,628		1,516
Globaltrans Investment GDR		129,384		1,773
LSR Group GDR *		209,551		1,672
Lukoil ADR		66,874		3,534
Magnit GDR		88,264		1,720
Magnitogorsk Iron & Steel Works GDR		267,691		2,969
Mobile Telesystems ADR		147,804		3,083

				16,267


Singapore — 0.9%
CapitaCommercial Trust ‡		1,227,527		1,269
CapitaMall Trust ‡		556,217		796
DBS Group Holdings		398,261		4,080
Fraser and Neave		93,000		381
Jardine Cycle & Carriage		51,144		1,228
Keppel Land		291,000		833
Oversea-Chinese Banking		487,000		3,117
SembCorp Marine		220,000		619
Singapore Airlines		392,027		4,370
United Overseas Bank		155,000		2,142
United Overseas Bank ADR		550,300		15,188
UOB-Kay Hian Holdings		82,000		89
UOL Group		436,000		1,284

				35,396


South Africa — 1.0%
ABSA Group		142,490		2,381
African Bank Investments		405,079		1,779
Barloworld		200,937		1,166
Group		232,092		3,792
Harmony Gold Mining		201,635		2,090
Impala Platinum Holdings		173,585		4,095
Life Healthcare Group Holdings		640,141		1,144
Mondi		247,989		1,816
Mr Price Group		264,975		1,775
Sasol ADR (A)		542,100		20,437


Description	Shares		Market Value ($ Thousands)

Telkom		114,662	$	522

				40,997


South Korea — 3.4%
Daewoo Shipbuilding & Marine Engineering		86,860		1,688
Hana Financial Group		282,130		7,260
Hyundai Motor		167,655		19,788
Hyundai Steel		43,625		3,930
Kia Motors		369,730		9,498
KISCO Holdings		4,036		168
KT		116,690		4,268
LG		109,573		7,860
LG Chemical		12,630		3,634
LG Electronics		13,177		1,060
LG Hausys		1,304		101
LG.Philips LCD		204,460		5,679
MegaStudy		8,276		1,194
POSCO ADR (A)		140,000		14,134
Samsung Electronics		45,844		28,908
Shinhan Financial Group		80,610		3,086
Shinsegae		5,794		2,788
SK Holdings		51,809		3,976
SK Telecom ADR (A)		897,800		14,383
Woori Finance Holdings		347,520		3,899

				137,302


Spain — 1.1%
Banco Bilbao Vizcaya Argentaria ADR (A)		1,143,800		13,794
Banco Bilbao Vizcaya Argentaria (A)		149,553		1,809
Banco Pastor		160		1
Banco Santander Central Hispano		479,859		5,639
Criteria Caixacorp (A)		152,895		720
Gas Natural		88,514		1,343
Inditex		49,261		3,296
Repsol		44,355		1,016
Telefonica		782,922		17,413

				45,031


Sweden — 1.8%
Alfa Laval		127,790		1,876
Assa Abloy, Cl B		17,102		343
Atlas Copco, Cl A		262,769		4,007
Billerud		58,221		335
Electrolux, Cl B		284,561		5,502
Elekta, Cl B		40,624		1,176
Hennes & Mauritz, Cl B		535,734		17,576
Millicom International Cellular		837		77
Nordea Bank		395,324		3,553
Scania, Cl B		117,592		2,176
Skandinaviska Enskilda Banken, Cl A		495,733		3,100
SKF, Cl B		38,692		697
Svenska Cellulosa, Cl B		208,941		2,787
Svenska Cellulosa ADR		1,031,600		13,648
Svenska Handelsbanken, Cl A		28,912		757
Tele2, Cl B		214,064		3,863
Telefonaktiebolaget LM Ericsson, Cl B		249,573		2,428


Description	Shares		Market Value ($ Thousands)

TeliaSonera		341,187	$	2,460
Volvo, Cl B		388,473		4,517

				70,878


Switzerland — 5.0%
Adecco		38,630		1,804
Aryzta		27,175		1,166
Clariant		186,400		2,401
Compagnie Financiere Richemont		48,769		1,898
Credit Suisse Group		16,041		705
EGL		83		59
Julius Baer Group		225,754		7,973
Logitech International *(A)		387,449		5,766
Nestle		774,633		40,183
Novartis		720,832		37,925
Roche Holding		193,760		26,370
Schindler Holding		37,442		3,737
Sika		447		786
STMicroelectronics		696,043		4,653
STMicroelectronics (EUR) (A)		190,403		1,268
Swatch Group		25,128		1,489
Swatch Group, Cl B		25,435		8,198
Swiss Life Holding		1,772		185
Temenos Group *(A)		28,143		724
UBS		1,006,624		17,055
Xstrata		126,199		1,990
Zurich Financial Services ADR		1,014,600		22,595
Zurich Financial Services		52,885		11,808

				200,738


Taiwan — 1.6%
Acer		668,627		1,568
Asia Polymer		531,600		454
Cathay Financial Holding		1,252,900		1,803
Chang Hwa Commercial Bank		2,193,000		1,246
Chinatrust Financial Holding		2,888,063		1,618
Chunghwa Telecom		724,000		1,480
CMC Magnetics *		1,730,000		423
Coretronic		183,000		245
Elitegroup Computer Systems		704,000		234
Far Eastern Textile		1,503,194		1,755
Fubon Financial Holding		4,407,675		5,139
High Tech Computer		605,432		11,056
HON HAI Precision Industry		1,072,400		3,783
Hwa Fong Rubber *		616,000		223
Long Bon International		488,000		189
MediaTek		255,620		3,483
Mega Financial Holding		1,349,000		815
Prime View International		1,838,000		2,723
Siliconware Precision Industries ADR		1,490,700		6,664
Taishin Financial Holding		1,584,730		648
Taiwan Fertilizer		753,000		2,304
Taiwan Semiconductor Manufacturing		5,116,925		9,408
United Microelectronics		4,159,000		1,688
United Microelectronics ADR (A)		1,211,600		3,114
Yageo *		1,423,000		557

				62,620


Description	Shares		Market Value ($ Thousands)

Thailand — 0.7%
Bangkok Bank		1,324,700	$	6,244
Bangkok Bank NVDR		431,100		2,032
Bank of Ayudhya		4,743,100		3,304
Bumrungrad Hospital		1,198,400		1,225
Glow Energy		1,341,755		1,887
Kasikornbank		1,703,900		5,907
Krung Thai Bank		6,025,900		2,773
Siam Commercial Bank		781,500		2,378
Thai Airways International		719,300		862
Thanachart Capital		695,600		767
Total Access Communication		502,200		746

				28,125


Turkey — 1.1%
Arcelik		553,608		2,636
Cimsa Cimento Sanayi VE Tica		245,301		1,522
Ford Otomotiv Sanayi		190,226		1,462
Haci Omer Sabanci Holding		990,068		4,486
KOC Holding		592,881		2,316
Tekfen Holding		536,646		1,973
Tupras Turkiye Petrol Rafine		65,666		1,477
Turkcell Iletisim Hizmet		340,851		2,160
Turkcell Iletisim Hizmet ADR		481,300		7,628
Turkiye Garanti Bankasi		2,761,506		13,419
Turkiye Sinai Kalkinma Bankasi		1,782,379		2,551
Turkiye Vakiflar Bankasi Tao, Cl D		1,202,317		3,269

				44,899


United Kingdom — 15.1%
3i Group		804,951		3,224
Acergy		116,978		1,800
Aggreko		254,138		5,543
Amlin		201,360		1,258
Anglo American		127,272		4,577
Antofagasta		80,653		1,279
ARM Holdings		1,635,807		9,222
Associated British Foods		265,354		4,315
AstraZeneca (A)		629,573		31,234
AstraZeneca ADR		415,800		20,553
Autonomy *		50,262		1,205
Aviva		261,160		1,521
Babcock International Group		100,000		777
BAE Systems		148,324		672
BAE Systems ADR		755,100		13,645
Barclays		308,975		1,436
BG Group		783,006		12,630
BHP Billiton		350,740		9,873
BP		2,115,956		12,377
British American Tobacco ADR		222,600		15,124
British American Tobacco		1,013,818		34,528
British Sky Broadcasting Group		964,823		10,491
BT Group, Cl A		1,524,758		3,121
Cable & Wireless Worldwide		374,803		385
Cairn Energy *		785,286		5,641
Cape *		126,128		523
Carnival		443,879		14,442
Centrica		2,057,310		10,286
Compass Group		1,187,829		9,740
Compass Group ADR		1,811,400		14,781
Cookson Group		147,334		949
Diageo		344,064		5,600


Description	Shares		Market Value ($ Thousands)

Diageo ADR		215,600	$	14,122
DS Smith		173,654		362
GlaxoSmithKline		489,518		9,186
GlaxoSmithKline ADR (A)		565,300		21,142
Hamworthy		22,253		118
HSBC Holdings		1,271,697		12,581
Imperial Tobacco Group		420,432		11,631
Intercontinental Hotels Group		157,500		2,377
Intermediate Capital Group		185,650		779
International Power		217,241		1,240
Investec		539,808		3,916
Johnson Matthey		50,586		1,235
Kingfisher		4,123,032		12,958
Legal & General Group		2,433,247		3,465
Lloyds Banking Group		13,021,446		13,907
Marks & Spencer Group ADR		696,400		7,277
Next		135,774		4,132
Pearson		755,456		11,291
Pearson ADR		940,600		13,940
Pennon Group		84,411		743
Petrofac		142,301		3,064
Prudential		426,468		3,710
Reckitt Benckiser Group (D)		442,170		22,174
Rio Tinto		367,687		18,649
Rio Tinto ADR		137,600		6,939
Rolls-Royce Group		538,057		4,581
Royal Bank of Scotland Group *		5,338,907		3,658
SABMiller		651,114		18,583
Sage Group ADR		488,800		7,366
Schroders		40,193		848
Severn Trent		51,828		1,032
Shire		361,083		7,803
Smith & Nephew		872,645		7,269
Standard Chartered		1,182,232		31,769
Tesco		2,961,651		18,523
Unilever ADR (A)		537,300		14,270
Unilever		155,595		4,118
United Utilities Group		168,601		1,478
Vodafone Group		5,037,606		12,167
Weir Group		58,230		1,080
WM Morrison Supermarkets		358,893		1,600
WPP		730,432		7,252

				607,087


United States — 0.9%
Advance America Cash Advance Centers		171,640		575
AmeriCredit *(A)		28,312		685
ATC Technology *		22,541		544
Boise *		478,443		3,292
Calamos Asset Management, Cl A		36,343		344
Central Garden and Pet *		45,888		424
Clearwater Paper *		5,300		360
Eli Lilly		193,380		6,490
Gladstone Capital		20,956		218
Golden Star Resources *(A)		322,029		1,520
Healthspring *		42,987		892
JPMorgan Chase		13,736		499
Lubrizol		21,698		2,025
Medifast *(A)		38,849		1,038
Par Pharmaceutical *		20,157		531
PHH *		72,497		1,342
Southern Copper		228,100		6,898


Description	Shares/Face Amount ($ Thousands)		Market Value ($ Thousands)

Thomson Reuters (CAD)		146,300	$	5,080
UnitedHealth Group		73,283		2,325
USA Mobility		17,647		254
World Acceptance *(A)		19,648		801

				36,137

Total Common Stock (Cost $3,624,980) ($ Thousands)				3,657,086


AFFILIATED PARTNERSHIP — 8.2%
SEI Liquidity Fund, L.P., 0.250%**†(B)		334,020,252		331,433

Total Affiliated Partnership (Cost $334,020) ($ Thousands)				331,433


CASH EQUIVALENT — 1.7%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200%**†		68,173,367		68,173

Total Cash Equivalent (Cost $68,173) ($ Thousands)				68,173


PREFERRED STOCK — 1.2%

Brazil — 0.4%
Banco Bradesco		265,410		4,573
Cia de Bebidas das Americas		24,300		2,662
Cia Energetica de Minas Gerais		120,910		1,954
Randon Participacoes		347,300		2,206
Tekno Industria e Comercio		1		—
Tim Participacoes		836,500		2,370

				13,765


Germany — 0.8%
Draegerwerk		3,838		302
Henkel		219,466		10,348
KSB		304		185
ProSiebenSat.1 Media		182,608		3,298
Volkswagen		195,967		19,559

				33,692

Total Preferred Stock (Cost $42,799) ($ Thousands)				47,457


U.S. TREASURY OBLIGATION — 0.9%
U.S. Treasury Bill
0.035%, 12/16/10 (C)(D)	$	34,809		34,794

Total U.S. Treasury Obligation (Cost $34,788) ($ Thousands)				34,794


MORTGAGE-BACKED SECURITY — 0.0%

Non-Agency Mortgage-Backed Obligation — 0.0%
Master Adjustable Rate Mortgages Trust, Ser 2004-6, Cl 2A1
2.881%, 07/25/34 (E)		1		1

Total Mortgage-Backed Security (Cost $1) ($ Thousands)				1


Description	Shares		Market Value ($ Thousands)

EXCHANGE TRADED FUNDS — 0.0%

Canada — 0.0%
Barclays iShares CDN S&P/TSX 60 Index		16,500	$	270


United States — 0.0%
iShares MSCI EAFE Index Fund		5,000		250

Total Exchange Traded Funds (Cost $520) ($ Thousands)				520


WARRANTS — 0.0%

Singapore — 0.0%
Golden Agri-Resources, Expires 05/29/12 *		176,797		13


Hong Kong — 0.0%
Henderson Land Development, Expires 12/31/49 *		43,200		6

Total Warrants (Cost $0) ($ Thousands)				19

Total Investments — 103.2% †† (Cost $4,105,281)($ Thousands)			$	4,139,483

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)		Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
DJ Euro Stoxx 50 Index		2,433		Sep-2010	$	625
FTSE Index		763		Sep-2010		1,492
Hang Seng Index		62		Sep-2010		(63	)
Nikkei 225 Index		11		Sep-2010		(28	)
S&P TSE 60 Index		231		Sep-2010		799
SPI 200 Index		198		Sep-2010		288
Topix Index		544		Sep-2010		(1,287	)

					$	1,826

A summary of the outstanding forward foreign currency contracts held by the Fund at August 31, 2010, is as follows:


Maturity Date	Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Depreciation ($ Thousands)
9/1/10-9/6/10		CLP	214,973		USD	425	$	(2	)

A summary of the counterparties for the outstanding forward foreign currency contracts held by the Fund at August 31, 2010, is as follows:


Counterparty	Currency to Deliver ($ Thousands)		Currency to Receive ($ Thousands)		Unrealized Depreciation ($ Thousands)
Brown Brothers Harriman		427		425	$	(2	)

Percentages are based on a Net Assets of $4,009,834($ Thousands).

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $4,105,281 ($Thousands), and the unrealized appreciation and depreciation were $244,633 ($Thousands) and $(210,431) ($Thousands), respectively.

(A)

This security or a partial position of this security is on loan at August 31, 2010. The total value of securities on loan at August 31, 2010 was $326,898 ($ Thousands).

(B)

This security was purchased with cash collateral held from securities on loan. The total value of such securities as of August 31, 2010 was $331,433 ($ Thousands).

(C)

The rate reported is the effective yield at time of purchase.

(D)

Security, or a portion thereof, has been pledged as collateral on open futures contracts.

(E)

Variable Rate Security — the rate reported is the rate in effect as of August 31, 2010. The date reported is the final maturity date.

(F)

Security fair valued using methods determined in good faith by the Valuation Committee of the Board of Trustees. The total value of such securities as of August 31, 2010 was $21,780 ($ Thousands) and represents 0.54% of net assets.

ADR — American Depositary Receipt

BDR — Brazilian Depositary Receipt

CAD — Canadian Dollar

Cl — Class

CLP — Chilean Peso

DJ — Dow Jones

EUR — Euro

FTSE — Financial Times and London Stock Exchange

GBP — British Pound Sterling

GDR — Global Depositary Receipt

L.P. — Limited Partnership

MSCI EAFE — Morgan Stanley International Europe, Australasia and Far East

NVDR — Non-Voting Depositary Receipt

S&P — Standard & Poor’s

Ser — Series

TSE — Toronto Stock Exchange

USD — United States Dollar

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	3,654,626	$	2,460	$	—	$	3,657,086
Affiliated Partnership		331,433		—		—		331,433
Preferred Stock		47,457		—		—		47,457
Mortgage-Backed Securities		—		1		—		1
Exchange-Traded Funds		520		—		—		520
Warrants		—		19		—		19
Cash Equivalent		68,173		—		—		68,173
U.S. Treasury Obligations		—		34,794		—		34,794

Total Investments in Securities	$	4,102,209	$	37,274	$	—	$	4,139,483


Other Financial Instruments	Level 1		Level 2			Level 3		Total
Futures Contracts*	$	1,826	$	—		$	—	$	1,826
Forwards Contracts		—		(2	)		—		(2	)

Total Other Financial Instruments	$	1,826	$	(2	)	$	—	$	1,824

Futures contracts and Forwards contracts are valued at the unrealized appreciation on the instrument.

For the period ended August 31, 2010, the transfers out of Level 1 and into Level 2 were $21,780 ($ Thousands) and the transfers out of Level 2 and into Level 1 were $411,166 ($ Thousands). The transfers were related to the fair value of certain international securities.

Amounts designated as “—” are $0 or have been rounded to $0.


Description	Shares		Market Value ($ Thousands)

COMMON STOCK — 92.9%

Australia — 3.2%
Amcor		2,800	$	17
Australia & New Zealand Banking Group		5,525		111
Bendigo Bank		1,851		14
BGP Holdings *		4,500		—
BHP Billiton		23,348		770
Caltex Australia		14,432		144
Coca-Cola Amatil		2,904		31
Commonwealth Bank of Australia		457		21
Fortescue Metals Group *		3,134		13
Harvey Norman Holdings		4,000		12
Lend Lease Group		6,704		41
National Australia Bank		5,452		113
OneSteel		3,261		8
Orica		3,588		80
Rio Tinto		7,432		464
Santos		10,001		126
SP AusNet, Cl Miscellaneous		37,992		27
Stockland ‡		13,954		49
Suncorp-Metway		896		7
Thorn Group		18,819		22
Westfield Group ‡		7,104		79
Westpac Banking		2,994		58
Woodside Petroleum		1,891		71

				2,278


Austria — 0.1%
IMMOFINANZ		5,265		17
Voestalpine		1,070		32

				49


Belgium — 0.7%
AGFA-Gevaert		1,000		7
D’ieteren		75		35
InBev		3,865		201
KBC Groep		2,233		93
Recticel		5,843		53
Telenet Group Holding		1,528		46
Umicore		1,051		37

				472


Bermuda — 0.0%
Catlin Group		2,693		14


Brazil — 1.4%
Banco Bradesco ADR		8,307		146
Banco do Brasil		4,700		76
BM&F Bovespa SA		35,800		260
Empresa Brasileira de Aeronautica ADR		6,200		154
Lojas Renner		2,600		85
Natura Cosmeticos		10,100		247

				968


Canada — 7.9%
ARC Energy Trust		1,300		24
Bank of Montreal		3,500		193
Bank of Nova Scotia		1,800		87


Description	Shares		Market Value ($ Thousands)

Barrick Gold		1,300	$	61
Baytex Energy Trust		3,200		105
BCE		1,200		38
Brookfield Asset Management, Cl A		4,700		121
Canadian Imperial Bank of Commerce		1,600		109
Canadian National Railway		11,310		690
Canadian Natural Resources		17,700		569
Canadian Oil Sands Trust		2,800		66
Canadian Pacific Railway		1,600		94
Canadian Tire, Cl A		100		5
Cardiome Pharma *		8,300		50
Celestica *		1,800		14
Cenovus Energy		6,469		174
CGI Group, Cl A *		8,500		118
Cott *		22,400		155
Domtar		519		31
Dorel Industries, Cl B		1,100		36
Enbridge		4,560		227
EnCana		15,369		422
Flint Energy Services *		8,100		100
Franco-Nevada		400		12
George Weston		390		30
Gildan Activewear *		1,800		49
IAMGOLD		5,238		98
Imperial Oil		1,600		59
Magna International, Cl A		2,510		196
Manulife Financial		1,000		11
MDS *		3		—
Metro, Cl A		400		17
National Bank of Canada		800		46
Nexen		2,107		39
Northgate Minerals *		8,100		25
Onex		1,000		26
Pacific Rubiales Energy *		6,000		142
Petrobank Energy & Resources *		2,100		73
Potash Corp of Saskatchewan		2,200		324
Potash Saskatchewan		300		44
Research In Motion *		4,500		192
Rogers Communications, Cl B		3,200		111
Royal Bank of Canada		500		24
Sherritt International		3,000		19
Sino-Forest, Cl A *		2,200		38
Talisman Energy		300		5
Teck Cominco, Cl B		3,200		107
Toronto-Dominion Bank		5,150		348

				5,524


Chile — 0.0%
CorpBanca ADR		300		18


China — 2.4%
Air China, Cl H		68,000		73
Bank of China, Cl H		36,000		18
China Construction Bank, Cl H		508,000		419
China Life Insurance, Cl H		36,000		138
China Merchants Bank, Cl H		125,000		322
China Telecom, Cl H		6,000		3
Dongfeng Motor Group, Cl H		44,000		68


Description	Shares		Market Value ($ Thousands)

Industrial & Commercial Bank of China		573,000	$	416
Pacific Textile Holdings		75,000		38
Sinopharm Group, Cl H		51,035		195

				1,690


Denmark — 1.9%
AP Moller - Maersk, Cl A		1		7
AP Moller - Maersk, Cl B		2		15
Carlsberg, Cl B		2,466		233
Coloplast, Cl B		554		59
Danisco		871		63
Novo-Nordisk, Cl B		8,949		770
Vestas Wind Systems *		4,501		169

				1,316


Finland — 1.3%
Fortum		2,567		59
Kone, Cl B		3,841		177
Metso		1,988		73
Neste Oil		1,000		14
Norvestia, Cl B		562		5
Sampo, Cl A		9,179		222
Stora Enso, Cl R		25,094		194
UPM-Kymmene		10,080		139

				883


France — 5.4%
Air Liquide		3,465		361
Arkema		611		26
BNP Paribas		7,015		440
Bureau Veritas		632		39
Carrefour		310		14
Casino Guichard Perrachon		300		24
Christian Dior		219		22
Compagnie de St.-Gobain		2,043		76
Compagnie Generale des Etablissements Michelin, Cl B		193		14
Dassault Systemes		1,010		61
Eutelsat Communications		1,306		47
France Telecom		1,576		32
LVMH Moet Hennessy Louis Vuitton		4,120		481
Natixis		18,682		102
Peugeot		5,450		144
PPR		1,167		153
Publicis Groupe		3,078		129
Rhodia		6,174		116
Safran		10,817		267
Sanofi-Aventis		7,212		415
Societe Generale		2,506		128
Valeo		6,575		230
Vallourec		626		54
Vinci		2,236		98
Vivendi		12,397		290

				3,763


Germany — 5.9%
ADVA Optical Networking *		1,667		9
Allianz		4,433		456
BASF		13,009		688
Bayer		210		13


Description	Shares		Market Value ($ Thousands)

Bayerische Motoren Werke		2,329	$	123
Bilfinger Berger		944		57
Continental		1,153		70
DaimlerChrysler		5,347		261
Deutsche Bank		8,054		508
Deutsche Post		9,130		150
Deutsche Telekom		15,174		200
E.ON		8,188		231
Fresenius Medical Care		6,393		363
Hannover Rueckversicherung		2,694		120
Henkel		1,043		42
Infineon Technologies *		2,042		11
Lanxess		1,175		52
Leifheit		675		13
Linde		674		76
Metro		1,059		54
MTU Aero Engines Holding		777		43
RWE		457		30
SAP		11,355		497
Siemens		455		42
TUI		3,373		34
Volkswagen		67		6

				4,149

Greece — 0.1%
OPAP		2,017		31
Public Power		2,900		41

				72


Guernsey — 0.3%
Amdocs *		7,800		205


Hong Kong — 2.9%
Alco Holdings		54,000		20
Allan International Holdings		62,000		23
ASM Pacific Technology		1,900		15
China Mobile		41,000		417
CLP Holdings		25,000		191
First Pacific		56,000		42
Genting Singapore *		50,000		62
Hong Kong Exchanges and Clearing		19,900		312
Hong Kong Ferry Holdings		10,000		10
Hongkong Land Holdings		16,000		86
Hutchison Whampoa		15,000		111
Jardine Matheson Holdings		800		35
Jardine Strategic Holdings		2,342		58
New World Development		3,000		5
Orient Overseas International		500		4
Paliburg Holdings		64,000		24
Polytec Asset Holdings		70,000		11
Sun Hung Kai Properties		7,000		98
Swire Pacific, Cl A		18,500		223
Wharf Holdings		19,000		102
Wheelock		19,000		55
Wing On International		30,111		53
Yue Yuen Industrial Holdings		24,000		79

				2,036


Description	Shares		Market Value ($ Thousands)

Hungary — 0.1%
OTP Bank		4,436	$	94


India — 0.6%
HDFC Bank ADR		1,170		187
ICICI Bank ADR		3,476		143
Infosys Technologies ADR		2,180		125

				455


Indonesia — 0.3%
Asahimas Flat Glass		20,000		10
Astra International		16,500		87
Bank Mandiri		159,500		104
Charoen Pokphand Indonesia		54,000		38
Titan Kimia Nusantara *		396,000		6

				245


Ireland — 0.2%
Covidien		3,900		138


Israel — 1.0%
Bank Leumi Le-Israel		16,030		67
Check Point Software Technologies *		2,300		80
Teva Pharmaceutical Industries ADR		11,155		564

				711


Italy — 1.3%
Amplifon		2,223		10
Banca Intesa		56,482		159
Danieli & C Officine Meccaniche		620		11
Enel		93,738		448
Mediaset		5,554		35
Saipem		2,497		88
Snam Rete Gas		11,653		54
Telecom Italia		76,888		97
Terna Rete Elettrica Nazionale		10,230		41

				943


Japan — 14.9%
Adores		9,000		7
Aeon		7,800		83
Aozora Bank		11,000		15
Arc Land Sakamoto		4,500		51
Arnest One		1,300		13
Asahi Breweries		2,900		55
Asahi Glass		25,000		244
Asahi Kasei		5,000		25
Astellas Pharma		4,100		142
AT-Group		1,000		11
Bank of Yokohama		27,995		122
Belluna		5,450		27
Best Denki		14,000		33
Canon		9,695		395
Central Japan Railway		14		113
Chiba Bank		12,000		68
Chuo Spring		3,000		11
Combi		2,000		17
Cosmo Oil		31,000		74
Daicel Chemical Industries		10,000		61


Description	Shares		Market Value ($ Thousands)

Dai-ichi Life Insurance		125	$	148
Daiichi Sankyo		4,600		92
Dainichi		1,700		10
Dainippon Screen Manufacturing		6,000		26
Daito Trust Construction		600		34
Daiwa House Industry		5,000		47
Dena		4,600		138
Denso		2,600		71
Disco		600		30
Elpida Memory *		500		6
Fanuc		3,900		419
First Juken		2,600		20
Fuji Electric Holdings		31,000		77
Fuji Heavy Industries		30,000		169
FUJIFILM Holdings		3,500		106
Fujitsu		35,000		243
Gunma Bank		8,000		41
Hanwa		4,000		14
Happinet		600		7
Hino Motors		13,000		57
Hitachi		138,000		559
Hokuriku Gas		1,000		3
Honda Motor		3,935		130
Idemitsu Kosan		900		71
Inabata		3,500		17
Inpex		18		81
IT Holdings		200		2
Itochu Techno-Solutions		800		26
Itochu-Shokuhin		1,000		33
Japan Wool Textile		5,000		38
JFE Holdings		2,800		83
JFE Shoji Holdings		4,000		14
JSR		1,700		25
Kamei		4,000		17
Kanaden		2,000		11
Keiyo Gas		1,000		4
Keyence		500		104
Kikuchi		600		9
Kobe Steel		20,000		41
Komatsu		19,100		388
K’s Holdings		9,000		195
Kuraray		5,000		57
Kyocera		1,500		128
Maruichi Steel Tube		500		10
Maruzen -General Commercial Kitchen Appliances & Equipment		1,000		5
Millea Holdings		2,600		70
Minebea		11,000		51
Mitani		3,100		23
Mitsubishi Chemical Holdings		6,000		28
Mitsubishi Electric		10,000		80
Mitsubishi UFJ Financial Group		87,800		419
Mitsui Chemicals		47,000		120
Mitsui OSK Lines		27,000		170
Mizuho Financial Group		45,700		70
Murakami		1,000		11
NHK Spring		7,000		58
Nichireki		8,000		31
Nidec		600		53
NIFTY		10		9
Nippon Electric Glass		3,000		34


Description	Shares		Market Value ($ Thousands)

Nippon Game Card *		10	$	12
Nippon Light Metal		18,000		29
Nippon Telegraph & Telephone		9,100		393
Nishi-Nippon City Bank		12,000		34
Nisshin Fudosan		4,800		22
Nissin Food Products		300		11
Nissin Sugar Manufacturing		10,000		21
Nitto Denko		2,900		93
Nitto Fuji Flour Milling		2,000		7
NSK		6,000		36
NTT Data		8		25
NTT DoCoMo		100		169
Obayashi Road		14,000		23
Omron		2,000		43
Onoken		3,300		25
ORIX		1,270		96
Osaka Gas		10,000		38
Raysum		59		15
Resona Holdings		8,700		86
Saison Information Systems		2,600		24
San-Ai Oil		3,000		12
Sanei Architecture Planning		200		5
Sanoh Industrial		1,100		8
Sanyo Housing Nagoya		20		18
Sega Sammy Holdings		2,900		43
Seino Holdings		21,000		131
Senshu Electric		1,600		13
Shidax		6,700		23
Shinsei Bank		15,000		11
Shiseido		5,100		115
Shoei Foods		1,000		6
Showa Shell Sekiyu		11,800		85
SMC		1,200		148
Softbank		5,700		164
Soken Chemical & Engineering		700		9
Sony		6,000		169
Starts		1,500		5
Sugimoto		700		6
Sumikin Bussan		6,000		11
Sumitomo Electric Industries		5,800		62
Sumitomo Heavy Industries		9,000		42
Sumitomo Mitsui Financial Group		3,300		98
Sumitomo Trust & Banking		29,000		154
Takagi Securities		12,000		17
Takeda Pharmaceutical		8,000		368
Takefuji		10,680		26
TDK		1,300		68
Tokai		1,200		17
Tokyo Electron		400		19
Tokyo Gas		14,000		65
Tokyu Construction		8,320		22
Tomoe Engineering		1,000		13
Toyo Seikan Kaisha		2,100		33
Toyota Industries		400		10
Toyota Motor		9,433		321
Toyota Tsusho		1,200		17
Unicharm		800		98
West Japan Railway		15		56
Yagi		300		4
Yahoo! Japan		211		76
Yamada Denki		660		41
Yokohama Rubber		6,000		28


Description	Shares		Market Value ($ Thousands)

Zeon		6,000	$	40

				10,479


Macau — 0.1%
Sands China *		34,000		53
Wynn Macau *		10,400		18

				71


Malaysia — 0.8%
Axiata Group *(C)		54,000		76
CIMB Group Holdings (C)		146,300		362
EON Capital *(C)		9,500		21
HAP Seng Consolidated (C)		11,800		11
Hong Leong Financial Group (C)		7,200		20
Public Bank (C)		10,800		41

				531


Mexico — 1.3%
Alfa, Cl A		4,500		31
America Movil, Ser L		116,500		273
America Movil ADR, Ser L		5,500		257
Grupo Financiero Banorte, Ser O		4,700		17
Grupo KUO De *		9,900		11
Telefonos de Mexico		99,400		69
Wal-Mart de Mexico		128,600		292

				950


Netherlands — 2.6%
Akzo Nobel		261		14
ArcelorMittal		1,800		53
ASML Holding		7,140		178
European Aeronautic Defense and Space		7,162		158
Heineken		1,792		80
ING Groep		38,944		347
Koninklijke Ahold		15,361		190
Koninklijke Philips Electronics		14,470		407
Royal KPN		17,211		250
Unilever		6,360		171

				1,848


New Zealand — 0.1%
Telecom of New Zealand		37,529		54


Norway — 0.6%
DnB		18,954		210
Marine Harvest		65,290		50
Telenor		8,938		131

				391


Peru — 0.2%
Credicorp		1,045		110


Philippines — 0.1%
Alaska Milk		33,900		10
Benpres Holdings *		587,700		67

				77


Description	Shares		Market Value ($ Thousands)

Poland — 0.3%
Bank Zachodni WBK		313	$	19
Getin Holding *		3,605		11
KGHM Polska Miedz		1,567		53
Polski Koncern Naftowy Orlen		9,007		111

				194


Portugal — 0.3%
Energias de Portugal		25,911		79
Jeronimo Martins		4,764		53
Portugal Telecom		4,718		55

				187


Russia — 0.0%
Surgutneftegaz ADR		3,407		31


Singapore — 1.3%
CapitaCommercial Trust ‡		47,000		48
CapitaMall Trust ‡		21,000		30
DBS Group Holdings		9,000		92
GP Batteries International		40,000		50
Hiap Seng Engineering		81,000		36
Ho Bee Investment		55,000		59
Jardine Cycle & Carriage		3,000		72
Keppel Land		11,000		31
MCL Land		12,000		22
Oversea-Chinese Banking		12,000		77
SembCorp Marine		2,000		6
Singapore Airlines		6,633		74
United Overseas Bank		7,000		97
UOL Group		23,000		68
Yangzijiang Shipbuilding Holdings		101,000		118

				880


South Africa — 0.3%
Group		11,277		184
Stefanutti Stocks Holdings		7,228		10

				194


South Korea — 1.8%
Hana Financial Group		5,850		151
Hyundai Steel		1,148		103
Kia Motors		7,260		187
Kolon Industries		4,900		132
KT		1,010		37
LG		2,390		171
LG Chemical		330		95
LG Electronics		777		62
LG.Philips LCD		4,110		114
Nexen		430		18
Shinhan Financial Group		200		8
Taekwang Industrial		129		99
Woori Finance Holdings		9,050		102

				1,279


Spain — 1.2%
Banco Bilbao Vizcaya Argentaria		4,000		48
Banco Pastor		23		—
Banco Santander Central Hispano		11,746		138
Criteria Caixacorp		3,320		16
Inditex		1,914		128


Description	Shares		Market Value ($ Thousands)

Repsol		2,962	$	68
Telefonica		20,697		460

				858


Sweden — 2.3%
Alfa Laval		3,350		49
Assa Abloy, Cl B		5,759		115
Atlas Copco, Cl A		6,772		103
Billerud		1,324		8
Elekta, Cl B		1,775		51
Hennes & Mauritz, Cl B		11,562		379
Husqvarna, Cl B		24,300		153
Kabe Husvagnar, Cl B		400		5
Nordea Bank		13,403		120
Scania, Cl B		5,357		99
Skandinaviska Enskilda Banken, Cl A		10,955		69
SKF, Cl B		1,309		24
Svenska Cellulosa, Cl B		8,359		112
Svenska Handelsbanken, Cl A		2,876		75
Telefonaktiebolaget LM Ericsson, Cl B		9,819		96
TeliaSonera		9,422		68
Volvo, Cl B		10,180		118

				1,644


Switzerland — 6.6%
Adecco		1,494		70
Aryzta		1,080		46
Clariant		2,237		29
Compagnie Financiere Richemont		1,915		74
Credit Suisse Group		468		21
Julius Baer Group		4,701		166
Julius Baer Holding		1,000		12
Kuehne + Nagel International		53		6
Logitech International *		8,789		131
Nestle		21,916		1,137
Novartis		17,351		913
Roche Holding		4,688		638
Schindler Holding		1,373		137
Sika		4		7
STMicroelectronics		21,584		144
Swatch Group		920		55
Swatch Group, Cl B		734		237
Swiss Life Holding		204		21
Temenos Group *		1,087		28
UBS		22,394		379
Xstrata		4,689		74
Zurich Financial Services		1,285		287

				4,612


Taiwan — 1.0%
Asia Polymer		30,000		26
Asustek Computer		1,350		9
CMC Magnetics *		78,000		19
Elitegroup Computer Systems		52,000		17
Formosa Chemicals & Fibre		5,000		11
Formosa Petrochemical		7,000		16
High Tech Computer		10,500		192
HON HAI Precision Industry		6,720		24
Nan Ya Plastics		6,000		12
Pegatron *		3,633		5


Description	Shares		Market Value ($ Thousands)

Quanta Computer		8,000	$	12
Taiwan Semiconductor Manufacturing		63,258		116
Taiwan Semiconductor Manufacturing ADR		12,004		113
United Microelectronics ADR		41,062		105
Yageo *		72,000		28
Zenitron		23,000		13

				718


Thailand — 0.5%
Bangchak Petroleum		7,700		3
Bangkok Bank		34,600		163
Bank of Ayudhya		129,000		90
Thai Airways International		108,300		130

				386


Turkey — 0.8%
KOC Holding		15,520		61
Turkiye Garanti Bankasi		67,381		327
Turkiye Is Bankasi, Cl C		5,107		19
Turkiye Vakiflar Bankasi Tao, Cl D		47,351		129
Yapi ve Kredi Bankasi *		3,676		11

				547


United Kingdom — 17.7%
3i Group		29,419		118
Acergy		4,500		69
Aggreko		6,004		131
Amlin		5,703		36
Anglo American		6,832		246
ARM Holdings		36,742		207
Associated British Foods		8,858		144
AstraZeneca		17,043		845
Autonomy *		1,938		46
Aviva		9,758		57
Babcock International Group		1,500		12
BAE Systems		5,883		27
Barclays		28,639		133
BG Group		27,562		445
BHP Billiton		13,113		369
BP		49,208		288
British American Tobacco		27,187		926
British Sky Broadcasting Group		19,833		216
BT Group, Cl A		38,242		78
Cairn Energy *		16,006		115
Carnival		9,924		323
Centrica		38,466		192
Compass Group		37,267		306
Cookson Group		5,674		36
Dart Group		7,297		8
Diageo		6,160		100
Firstgroup		2,249		12
GlaxoSmithKline		13,910		261
HSBC Holdings		41,709		413
Imperial Tobacco Group		10,653		295
Intercontinental Hotels Group		4,100		62
Intermediate Capital Group		6,930		29
International Power		8,492		48
Investec		20,656		149
Johnson Matthey		1,980		48


Description	Shares		Market Value ($ Thousands)

Kingfisher		93,182	$	293
Legal & General Group		107,708		153
Lloyds Banking Group		361,466		386
Meggitt		23,260		95
National Grid		1,736		15
Next		1,979		60
Pearson		19,215		287
Pennon Group		3,298		29
Prudential		5,284		46
Reckitt Benckiser Group		8,908		447
Rio Tinto		12,135		615
Rolls-Royce Group		14,090		120
Royal Bank of Scotland Group *		189,740		130
SABMiller		15,729		449
Schroders		1,571		33
Severn Trent		2,765		55
Shire		10,500		227
Smith & Nephew		19,355		161
Standard Chartered		32,632		877
Tesco		61,510		385
Unilever		3,271		87
United Utilities Group		6,379		56
Vodafone Group		150,793		364
WM Morrison Supermarkets		10,667		47
WPP		22,447		223

				12,430


United States — 1.1%
Boise *		9,225		64
Capital One Financial		2,644		100
ConocoPhillips		2,900		152
Eli Lilly		952		32
Johnson & Johnson		163		9
JPMorgan Chase		3,517		128
South Financial Group *		72,147		20
Southern Copper		5,100		154
Thomson Reuters (CAD)		3,200		111

				770

Total Common Stock (Cost $65,554) ($ Thousands)				65,264


PREFERRED STOCK — 0.8%

Germany — 0.8%
Henkel		2,084		98
ProSiebenSat.1 Media		6,263		113
RWE		88		5
Volkswagen		3,716		371

				587


South Korea — 0.0%
LG		280		8

Total Preferred Stock (Cost $551) ($ Thousands)				595


WARRANTS — 0.0%

Singapore — 0.0%
Golden Agri-Resources,
Expires 05/29/12 *		5,951		1


Description	Face Amount ($ Thousands) /Shares		Market Value ($ Thousands)

Hong Kong — 0.0%
Henderson Land Development, Expires 12/31/49 *	$	2,600	$	—

Total Warrants (Cost $0) ($ Thousands)				1


U.S. TREASURY OBLIGATION — 0.5%
U.S. Treasury Bill
0.198%, 12/16/10 (A)(B)		318		318

Total U.S. Treasury Obligation (Cost $318) ($ Thousands)				318


CASH EQUIVALENT — 4.2%

United States — 4.2%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200% †**		2,936,701		2,937

Total Cash Equivalent (Cost $2,937) ($ Thousands)				2,937

Total Investments — 98.4% (Cost $69,360)($ Thousands) ††			$	69,115

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)		Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
DJ Euro Stoxx 50 Index		30		Sep-2010	$	(20	)
FTSE Index		9		Sep-2010		10
Hang Seng Index		1		Sep-2010		(2	)
S&P TSE 60 Index		3		Sep-2010		7
SPI 200 Index		3		Sep-2010		–
Topix Index		7		Sep-2010		(43	)

					$	(48	)

Percentages are based on a Net Assets of $70,225($ Thousands).

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $69,360 ($ Thousands), and the unrealized appreciation and depreciation were $3,891 ($ Thousands) and $(4,136)($ Thousands), respectively.

(A)

Zero coupon security. The rate reported is the effective yield at time of purchase.

(B)

Security, or a portion thereof, has been pledged as collateral on open futures contracts.

(C)

Securities fair valued using methods determined in good faith by the Valuation Committee of the Board of Trustees. The total market value of such securities as of August 31, 2010 was $531 ($ Thousands) and represented 0.1% of Net Assets.

ADR — American Depositary Receipt

CAD — Canadian Dollar

Cl — Class

DJ — Dow Jones

FTSE — Financial Times and London Stock Exchange

S&P — Standard and Poor’s

Ser — Series

SPI — Stock Price Index

TSE — Toronto Stock Exchange

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	64,733	$	531	$	—	$	65,264
Preferred Stock		595		—		—		595
Warrants		—		1		—		1
U.S. Treasury Obligation		—		318		—		318
Cash Equivalent		2,937		—		—		2,937

Total Investments in Securities	$	68,265	$	850	$	—	$	69,115


Investments in Securities	Level 1			Level 2		Level 3		Total
Future Contracts*	$	(48	)	$	—	$	—	$	(48	)

Total Other Financial Instruments	$	(48	)	$	—	$	—	$	(48	)

Future contracts are valued at the unrealized depreciation on the instrument.

For the period ended August 31, 2010, the transfers out of Level 1 and into Level 2 were $531 ($ Thousands) and the transfers out of Level 2 and into Level 1 were $10,928 ($ Thousands). The transfers were related to the fair value of certain international securities.

Amounts designated as “—” are $O or have been rounded to $O.


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

LOAN PARTICIPATIONS — 30.4%
Affinion Group Holdings
5.000%, 10/08/16	$	499	$	479
Alliant Insurance Service Term Loan
3.533%, 08/21/14		685		651
Allison Transmission
3.040%, 08/07/14		678		623
Aramark Facility
0.192%, 01/26/14		27		26
Aramark US Term Loan
2.408%, 01/26/14		379		359
Asurion 1st Lien Term Loan
3.398%, 07/03/14		75		71
3.305%, 07/03/14		205		196
3.290%, 07/03/14		241		231
BBN Acquisitions
5.000%, 09/14/15		394		393
Biomet Dollar Term Loan
3.262%, 03/25/15		45		43
3.260%, 03/25/15		369		357
3.260%, 03/25/15		20		19
Blount International
6.250%, 07/29/16		450		447
Booz Allen Hamilton Tranche B Term Loan
7.500%, 07/31/15		111		111
Burlington Coat Factory
2.660%, 05/28/13		291		276
2.540%, 05/28/13		294		279
Calpine
3.415%, 03/29/14		520		497
CDW
4.276%, 10/12/14		305		273
2.276%, 10/12/14		145		129
Cedar Fair
5.500%, 12/15/16		560		562
Celanese US Holdings LLC Term Loan
2.284%, 04/02/14		455		435
Cengage Learning Holdco
3.030%, 06/28/14		592		524
CF Industries Term Loan B1
4.500%, 04/05/15		196		197
Charter Communications Term Loan C
3.790%, 09/06/16		528		506
Charter Term Loan B
2.320%, 03/15/14		65		61
Cinemark USA
2.268%, 10/05/13		53		51
2.150%, 10/05/13		77		75
2.030%, 10/05/13		325		315
CIT Group (E)
0.000%, 08/11/15		300		299
Clear Channel
3.910%, 01/29/16		927		737
Community Health Systems Delayed Draw Term Loan
2.549%, 07/25/14		44		41


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Community Health Systems Funded Term Loan
2.549%, 07/25/14	$	850	$	800
2.510%, 07/25/14		2		2
Dana Holding
6.500%, 01/31/15		23		23
4.790%, 01/31/15		39		38
4.780%, 01/31/15		96		93
4.740%, 01/31/15		57		55
4.700%, 01/31/15		119		117
4.520%, 01/31/15		34		34
Dynegy Holdings
4.020%, 04/02/13		684		671
Enterprise GP Holdings
2.780%, 11/10/14		346		340
Federal Mogul
2.238%, 12/28/15		30		26
2.238%, 12/29/14		386		337
2.217%, 12/29/14		24		21
2.207%, 12/29/14		48		42
2.207%, 12/28/15		204		178
Fidelity National Infomation Services
5.303%, 07/18/16		420		422
Flextronics International Term A-2
2.510%, 10/01/14		262		245
Flextronics International Term A-3
2.562%, 10/01/14		306		286
Ford Motor Company
3.260%, 11/08/14		500		445
Freescale Semiconductor
4.562%, 12/01/16		565		505
Graphic Packaging International Incremental Term Loan
3.283%, 05/16/14		221		218
3.278%, 05/16/14		123		121
3.276%, 05/16/14		48		48
Hanesbrands Term Loan B
5.250%, 12/10/15		182		183
Harrah’s Operating, Ser B-2
3.498%, 01/28/15		668		573
HCA Tranche B Term Loan
2.783%, 11/18/13		858		826
Hertz
2.020%, 12/21/12		477		465
Hertz, Ser B
2.020%, 12/21/12		268		262
Hexion Specialty Chemical, Ser C-1
2.813%, 05/05/13		357		341
Hexion Specialty Chemical, Ser C-2
2.813%, 05/05/13		159		152
Hub International
6.750%, 06/13/14		347		340
Hub International Delayed Draw Term Loan
3.033%, 06/13/14		91		84
Hub International Initial Term Loan
3.033%, 06/13/14		406		376


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Iasis Healthcare LLC Delayed Draw Term Loan
2.260%, 03/15/14	$	61	$	57
Iasis Healthcare LLC Synthetic Letter of Credit
2.347%, 03/15/14		17		16
Iasis Healthcare LLC Term Loan B
2.260%, 03/15/14		175		165
IMS Health Term Loan B
5.250%, 02/26/16		198		198
Infor Enterprise Solutions Holdings
6.100%, 07/28/12		345		307
Infor Enterprise Solutions Holdings Tranche 1
6.100%, 07/28/12		77		68
Infor Global Enterprise Solutions
6.510%, 03/02/14		27		17
Infor Global Enterprise Solutions Tranche 1
6.510%, 03/02/14		138		87
Infor Global Solutions
6.020%, 07/28/15		220		196
Infor Global Solutions Intermediate Holdings
6.566%, 03/02/14		305		193
Integra Telecom
9.250%, 04/07/15		570		568
Intelsat
3.533%, 02/01/14		450		419
Intersil Term Loan B
4.750%, 04/26/16		250		250
Inventiv Health
6.599%, 05/07/16		300		299
Inverness Medical Innovations
4.510%, 06/26/15		440		426
Lamar Media
4.250%, 10/01/16		449		451
Las Vegas Sands LLC
2.100%, 05/17/14		327		293
Live Nation Entertainment
4.500%, 10/20/16		249		245
Meg Energy
6.000%, 04/03/16		434		434
Metroflag, 2nd Lien (C)(D)
11.250%, 01/06/09		1,500		—
Nalco Term Loan B
6.500%, 05/06/16		436		437
Nielsen Finance New Facility
2.295%, 12/31/17		608		579
NRG Holdings Letter of Credit
0.433%, 02/01/13		153		149
NRG Holdings Term Loan B
2.283%, 02/01/13		231		225
Oshkosh Term Loan B
6.540%, 12/06/13		170		172
6.440%, 12/06/13		10		10
Quebecor Media
2.607%, 01/17/13		398		381
re/max International
5.500%, 03/11/16		499		496


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Reable Therapeutics (DJO Finance) Term Loan B
3.260%, 05/20/14	$	391	$	372
Regal Cinemas
4.033%, 11/19/16		347		344
Reynold
6.250%, 11/05/15		835		831
Reynolds Group
5.750%, 05/13/16		498		498
Sensata Technology
2.231%, 04/27/13		435		411
2.143%, 04/27/13		1		1
Sirva Revolving Credit Loan
13.000%, 05/12/12		28		19
10.530%, 05/12/12		52		35
Sirva Worldwide (Unfunded)
0.500%, 05/12/12		202		67
Solutia 1st Lien Term Loan
4.750%, 03/02/17		170		170
Styron
7.500%, 05/21/16		500		504
Sungard Data Systems
4.043%, 02/28/16		424		413
3.970%, 02/28/16		31		30
Supervalu
1.510%, 06/02/12		450		433
Telesat Canada
3.270%, 10/31/14		450		435
Texas Competitive Electric
4.066%, 10/10/14		453		343
4.033%, 10/10/14		4		3
3.795%, 10/10/14		71		54
3.793%, 10/10/14		316		240
Travelport LLC Letter of Credit
3.033%, 08/23/13		45		43
Travelport LLC Term Loan B
2.760%, 08/23/13		393		374
Universal Health Services
0.000%, 05/16/16 (E)		450		449
Univision Communications
2.510%, 09/29/14		616		528
UPC Broadband Holding
4.251%, 12/31/17		250		237
Vanguard Health Term Loan
5.000%, 01/15/16		399		394
Warner Chilcott PLC, Ser A
6.000%, 10/30/14		161		160
Warner Chilcott PLC, Ser B
6.250%, 04/30/15		76		76
Warner Chilcott PLC, Ser B2
6.250%, 04/30/15		126		126
Wide Open West Finance 1st Lien
2.793%, 06/30/14		538		483

Total Loan Participations (Cost $34,156) ($ Thousands)				33,143


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

CORPORATE OBLIGATIONS — 5.7%
Consumer Discretionary — 0.5%
Farrellgas
9.125%, 10/01/17	$	450	$	482
Macy’s Retail Holdings
5.350%, 03/15/12		100		103

				585


Consumer Staples — 0.4%
Seminole Indian Tribe of Florida
6.535%, 10/01/20 (A)		450		397


Energy — 0.2%
Canadian Natural Resources
5.700%, 05/15/17		150		173


Financials — 2.3%
Capital One Financial MTN
5.700%, 09/15/11		150		156
Citigroup
0.807%, 06/09/16 (B)		150		127
Genworth Global Funding Trusts MTN
5.200%, 10/08/10		400		401
JPMorgan Chase Capital XXI, Ser U
1.416%, 02/02/37 (B)		250		183
Liberty Property L.P.
7.250%, 03/15/11 ‡		300		308
Monumental Global Funding
0.726%, 01/15/14 (A)(B)		230		220
Morgan Stanley MTN
0.830%, 01/09/14 (B)		200		187
Prudential Financial MTN
5.100%, 12/14/11		150		157
Reinsurance Group of America
5.625%, 03/15/17		200		215
State Street
0.575%, 04/30/12 (B)		135		135
Unitrin
6.000%, 05/15/17		110		110
4.875%, 11/01/10		300		301

				2,500


Health Care — 0.2%
UnitedHealth Group
1.718%, 02/07/11 (B)		250		251


Industrials — 0.5%
Berry Plastics
5.276%, 02/15/15 (B)		460		430
Continental Airlines, Ser 061G
0.886%, 06/02/13 (B)		142		127

				557


Materials — 0.9%
NewPage
11.375%, 12/31/14		380		309


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Verso Paper Holdings LLC
11.500%, 07/01/14	$	675	$	712

				1,021


Telecommunication Services — 0.4%
Corning
6.050%, 06/15/15		150		151
Telecom Italia Capital
1.135%, 07/18/11 (B)		150		149
Vodafone Group PLC
0.816%, 02/27/12 (B)		150		150

				450


Utilities — 0.3%
KeySpan
7.625%, 11/15/10		300		304

Total Corporate Obligations (Cost $6,216) ($ Thousands)				6,238


MORTGAGE-BACKED SECURITIES — 3.9%

Non-Agency Mortgage-Backed Obligations — 3.9%
American Tower Trust, Ser 2007- 1A, Cl D
5.957%, 04/15/37 (A)		125		133
Banc of America Funding, Ser 2005-F, Cl 4A1
4.558%, 09/20/35 (B)		403		305
Banc of America Funding, Ser 2006-D, Cl 3A1
5.448%, 05/20/36 (B)		323		241
Banc of America Large Loan, Ser 2007-BMB1, Cl A1
0.786%, 08/15/29 (A)(B)		141		130
Banc of America Mortgage Securities, Ser 2005-A, Cl 2A1
3.179%, 02/25/35 (B)		180		156
Bear Stearns Adjustable Rate Mortgage Trust, Ser 2006-1, Cl A1
4.625%, 02/25/36 (B)		329		294
Bear Stearns Commercial Mortgage Securities, Ser 2001- TOP2, Cl A2
6.480%, 02/15/35		435		442
GMAC Mortgage Loan Trust, Ser 2006-AR1, Cl 1A1
5.075%, 04/19/36 (B)		365		279
JPMorgan Mortgage Trust, Ser 2007-A4, Cl 1A1
5.351%, 06/25/37 (B)		321		257
Master Adjustable Rate Mortgages Trust, Ser 2005-6, Cl 5A1
2.813%, 07/25/35 (B)		353		273
Merrill Lynch Mortgage Backed Securities Trust, Ser 2007-2, Cl 1A1
5.800%, 08/25/36 (B)		354		287
Merrill Lynch Mortgage Investors, Ser 2005-A1, Cl 2A1
3.058%, 12/25/34 (B)		307		296


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

MortgageIT Trust, Ser 2005-4, Cl A1
0.544%, 10/25/35 (B)	$	340	$	229
Residential Funding Mortgage Securities, Ser 2005-SA5, Cl 2A
5.242%, 11/25/35 (B)		134		102
Washington Mutual Mortgage Pass-Through Certificate, Ser 2005-AR14, Cl 1A4
5.019%, 12/25/35 (B)		344		285
Wells Fargo Mortgage-Backed Securities Trust, Ser 2004-Z, Cl 2A1
2.968%, 12/25/34 (B)		299		279
Wells Fargo Mortgage-Backed Securities Trust, Ser 2005- AR16, Cl 3A2
2.939%, 10/25/35 (B)		79		70
Wells Fargo Mortgage-Backed Securities Trust, Ser 2005- AR16, Cl 6A3
3.310%, 10/25/35 (B)		118		106
Wells Fargo Mortgage-Backed Securities Trust, Ser 2006-AR2, Cl 2A3
4.721%, 03/25/36 (B)		127		109

Total Mortgage-Backed Securities (Cost $5,066) ($ Thousands)				4,273


ASSET-BACKED SECURITIES — 2.6%

Automotive — 0.9%
AmeriCredit Automobile Receivables Trust, Ser 2007- CM, Cl A4A
5.550%, 04/07/14		250		259
Americredit Prime Automobile Receivable, Ser 2007-2M, Cl A3
5.220%, 06/08/12		62		62
Capital Auto Receivables Asset Trust, Ser 2007-3, Cl A3A
5.020%, 09/15/11		6		6
Capital One Auto Finance Trust, Ser 2007-C, Cl A3A
5.130%, 04/16/12		86		86
CarMax Auto Owner Trust, Ser 2007-1, Cl C
5.530%, 07/15/13		50		51
Daimler Chrysler Auto Trust, Ser 2007-A, Cl A3A
5.000%, 02/08/12		62		62
Ford Credit Auto Owner Trust, Ser 2007-B, Cl A3A
5.150%, 11/15/11		53		53
Harley-Davidson Motorcycle Trust, Ser 2007-1, Cl C
5.540%, 04/15/15		105		109
Hyundai Auto Receivables Trust, Ser 2007-A, Cl A3B
0.676%, 01/17/12 (B)		12		12


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Merrill Auto Trust Securitization, Ser 2007-1, Cl C
5.960%, 12/15/13	$	55	$	56
Swift Master Auto Receivables Trust, Ser 2007-2, Cl A
0.926%, 10/15/12 (B)		200		200

				956


Credit Cards — 0.5%
American Express Credit Account Master Trust, Ser 2007-2, Cl B
0.456%, 09/15/16 (B)		145		142
Chase Issuance Trust, Ser 2005- C2, Cl C2
0.716%, 01/15/15 (B)		200		197
Citibank Credit Card Issuance Trust, Ser 2007-B5, Cl B5
0.915%, 11/07/14 (B)		250		249

				588


Mortgage Related Securities — 0.8%
Morgan Stanley Home Equity Loan Trust, Ser 2005-3, Cl M1
0.779%, 08/25/35 (B)		350		292
Morgan Stanley Home Equity Loan Trust, Ser 2005-4, Cl M1
0.739%, 09/25/35 (B)		370		188
Option One Mortgage Loan Trust, Ser 2005-5, Cl M1
0.719%, 12/25/35 (B)		470		296
Residential Asset Securities, Ser 2005-KS12, Cl M1
0.769%, 01/25/36 (B)		375		151

				927


Other Asset-Backed Securities — 0.4%
Dominos Pizza Master Issuer LLC, Ser 2007-1, Cl A2
5.261%, 04/25/37 (A)		400		389

Total Asset-Backed Securities (Cost $3,507) ($ Thousands)				2,860


U.S. GOVERNMENT AGENCY OBLIGATION — 0.2%
FHLB
5.375%, 08/19/11		225		236

Total U.S. Government Agency Obligation (Cost $236) ($ Thousands)				236


CASH EQUIVALENT — 10.0%
SEI Daily Income Trust, Prime Obligation Fund, Cl A,
0.200% *†		10,923,563		10,924

Total Cash Equivalent (Cost $10,924) ($ Thousands)				10,924


Description	Shares		Market Value ($ Thousands)

AFFILIATED PARTNERSHIP — 58.9%
SEI LIBOR Plus Portfolio †		9,457,376	$	64,310

Total Affiliated Partnership (Cost $85,274) ($ Thousands)				64,310


Total Investments — 111.7% (Cost $145,379)($ Thousands) ††			$	121,984

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)			Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
U.S. 10-Year Treasury Note		(11	)		Dec-2010	$	(3	)
U.S. 2-Year Treasury Note		(3	)		Dec-2010		–
U.S. 5-Year Treasury Note		8			Dec-2010		2
U.S. Long Treasury Bond		(1	)		Dec-2010		(1	)

						$	(2	)

Percentages are based on a Net Assets of $109,202 ($ Thousands).

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $145,379

($ Thousands), and the unrealized appreciation and depreciation were $1,064

($ Thousands) and $(24,459)($ Thousands), respectively.

(A)

Securities sold within terms of a private placement memorandum, exempt from

registration under Section 144A of the Securities Act of 1933, as amended, and may

be sold only to dealers in that program or other “accredited investors.” These

securities have been determined to be liquid under guidelines established by the

Board of Trustees.

(B)

Variable Rate Security—The rate reported is the rate in effect as of August 31, 2010. The date reported is the final maturity date.

(C)

Security in default on interest payments.

(D)

Security considered illiquid and restricted. The total value of such security as of August 31, 2010 was $0 ($ Thousands) and represented 0.0% of net assets.

(E)

Unsettled Loan Participation. Rate not available.

Cl — Class

FHLB — Federal Home Loan Bank

LIBOR — London Interbank Offered Rate

LLC — Limited Liability Company

L.P. — Limited Partnership

MTN — Medium Term Note

PLC — Public Limited Company

Ser — Series

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1			Level 2		Level 3		Total
Loan Participations	$	—		$	33,143	$	—	$	33,143
Corporate Obligations		—			6,238		—		6,238
Mortgage-Backed Securities		—			4,273		—		4,273
Asset-Backed Securities		—			2,860		—		2,860
U.S. Government Agency Obligation		—			236		—		236
Cash Equivalent		10,924			—		—		10,924
Affiliated Partnership		—			64,310		—		64,310

Total Investments in Securities	$	10,924		$	111,060	$	—	$	121,984


Other Financial Instruments	Level 1			Level 2		Level 3		Total
Futures Contracts*	$	(2	)	$	—	$	—	$	(2	)

Total Other Financial Instruments	$	(2	)	$	—	$	—	$	(2	)

Futures contracts are valued at the unrealized depreciation on the instrument.

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

Amounts designated as “—” are $O or have been rounded to $O.

Restricted Securities — At August 31, 2010, the Fund owned private placement investments that were purchased through private offerings or acquired through initial public offerings and cannot be sold without prior registration under the Securities Act of 1933 or pursuant to an exemption there form. In addition, the Fund has generally agreed to further restrictions on the disposition of certain holdings as set forth in various agreements entered into in connection with the purchase of these investments. These investments are valued at fair value as determined in accordance with the procedures approved by the Board of Trustees. The acquisition dates of these investments, along with their cost and values at August 31, 2010, were as follows:


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES — 48.7%

Agency Mortgage-Backed Obligations — 36.1%
FHLB CMO, Ser 1067, Cl 1
5.300%, 06/15/12	$	666	$	717
FHLMC TBA
5.500%, 09/01/37		13,600		14,514
FHLMC
11.000%, 02/17/21		1,979		2,196
10.000%, 03/17/26 to 10/01/30		3,715		4,389
7.500%, 08/01/30 to 09/20/38		3,484		3,946
7.000%, 11/01/15 to 09/01/25		152		170
6.500%, 06/01/17 to 09/01/38		35,870		39,176
6.000%, 03/01/20 to 08/01/38		52,716		57,419
5.774%, 05/15/38		2,115		250
5.724%, 11/15/37		2,227		185
5.500%, 12/01/13 to 04/01/38		79,595		86,040
5.125%, 11/17/17		5,000		5,940
5.000%, 04/18/17 to 12/01/34		41,615		45,069
4.800%, 10/27/10 (A)		35,000		34,993
4.000%, 10/01/33		1,637		1,697
2.875%, 02/09/15		3,390		3,597
0.579%, 02/03/12 (A)		14,170		14,181
0.000%, 12/15/28 to 10/15/39		1,882		1,780
FHLMC ARM (A)
6.714%, 08/01/36		1,775		1,854
6.646%, 07/01/36		1,027		1,081
6.573%, 08/01/36		701		735
6.485%, 09/01/36		6,319		6,591
6.463%, 10/01/36		457		485
6.441%, 02/01/37		662		711
6.409%, 11/01/37		381		411
6.407%, 12/01/36		956		1,026
6.342%, 12/01/36		1,508		1,600
6.315%, 03/01/37		611		644
6.308%, 09/01/37		173		185
6.305%, 10/01/36		1,871		1,982
6.277%, 09/01/37		5,636		6,087
6.253%, 09/01/36		599		624
6.227%, 11/01/37		1,271		1,345
6.224%, 02/01/37		1,745		1,845
6.211%, 05/01/37		956		1,021
6.199%, 06/01/36		1,568		1,652
6.179%, 09/01/36		457		490
6.178%, 01/01/37		2,726		2,892
6.173%, 12/01/36		994		1,051
6.165%, 12/01/36		486		511
6.154%, 10/01/36		1,141		1,199
6.142%, 06/01/37		439		474
6.032%, 10/01/37		2,202		2,345
6.019%, 12/01/36		1,829		1,941
6.007%, 02/01/37		389		414
5.992%, 04/01/37		1,608		1,713
5.960%, 05/01/37		5,067		5,414


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
5.953%, 01/01/37	$	528	$	567
5.950%, 11/01/36		356		378
5.935%, 03/01/37		1,369		1,457
5.916%, 07/01/37		723		777
5.879%, 05/01/36		1,052		1,107
5.867%, 11/01/36		844		898
5.824%, 05/01/37		323		344
5.822%, 11/01/38		685		736
5.769%, 04/01/38		364		386
5.764%, 05/01/37		2,189		2,328
5.743%, 05/01/37		916		971
5.717%, 03/01/36		945		1,015
5.707%, 06/01/37		1,102		1,186
5.694%, 03/01/36		1,648		1,768
5.674%, 04/01/37		882		941
5.631%, 04/01/37		314		333
5.620%, 10/01/38		815		872
5.601%, 05/01/36 to 05/01/37		1,514		1,602
5.542%, 05/01/36		1,833		1,945
5.484%, 08/01/37		2,745		2,910
5.321%, 05/01/38		1,130		1,194
5.126%, 01/01/36		3,477		3,699
FHLMC CMO, Ser 1, Cl Z
9.300%, 04/15/19		23		29
FHLMC CMO, Ser 1142, Cl IA
7.000%, 10/15/21		364		410
FHLMC CMO, Ser 1611, Cl Z
6.500%, 11/15/23		11,870		13,318
FHLMC CMO, Ser 2043, Cl CJ
6.500%, 04/15/28		1,464		1,644
FHLMC CMO, Ser 2075, Cl D
6.500%, 08/15/28		1,654		1,768
FHLMC CMO, Ser 2138, Cl KS, IO
7.424%, 02/15/29 (A)		1,799		95
FHLMC CMO, Ser 2293, Cl ZA
6.000%, 03/15/31		1,839		2,008
FHLMC CMO, Ser 2312, Cl Z
6.500%, 05/15/31		1,139		1,284
FHLMC CMO, Ser 2357, Cl ZJ
6.500%, 09/15/31		289		318
FHLMC CMO, Ser 2434, Cl ZA
6.500%, 04/15/32		3,026		3,410
FHLMC CMO, Ser 2456, Cl CJ
6.500%, 06/15/32		871		964
FHLMC CMO, Ser 2458, Cl ZM
6.500%, 06/15/32		1,617		1,795
FHLMC CMO, Ser 2542, Cl ES
5.000%, 12/15/17		1,228		1,336
FHLMC CMO, Ser 2558, Cl BD
5.000%, 01/15/18		4,137		4,591
FHLMC CMO, Ser 2587, Cl CO, PO
0.000%, 03/15/32		1,030		1,005
FHLMC CMO, Ser 2590, Cl BY
5.000%, 03/15/18		1,346		1,495
FHLMC CMO, Ser 2591, Cl QO
4.500%, 03/15/18		1,000		1,091
FHLMC CMO, Ser 2631, Cl SA
14.344%, 06/15/33 (A)		815		930
FHLMC CMO, Ser 2671, Cl S
14.252%, 09/15/33 (A)		772		880


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
FHLMC CMO, Ser 2676, Cl CY
4.000%, 09/15/18	$	2,291	$	2,466
FHLMC CMO, Ser 2684, Cl SN
26.870%, 10/15/33 (A)		185		213
FHLMC CMO, Ser 2690, Cl SJ
8.736%, 10/15/33 (A)		679		718
FHLMC CMO, Ser 2691, Cl SE
9.160%, 12/15/28 (A)		539		598
FHLMC CMO, Ser 2694, Cl QG
4.500%, 01/15/29		270		283
FHLMC CMO, Ser 2695, Cl SX
15.687%, 10/15/33 (A)		256		300
FHLMC CMO, Ser 2695, Cl OB, PO
0.000%, 10/15/33		298		246
FHLMC CMO, Ser 2698, Cl SV
8.586%, 11/15/33 (A)		333		342
FHLMC CMO, Ser 2725, Cl SC
8.557%, 11/15/33 (A)		322		343
FHLMC CMO, Ser 2727, Cl PW
3.570%, 06/15/29		297		304
FHLMC CMO, Ser 2754, Cl JG
4.500%, 03/15/33		662		664
FHLMC CMO, Ser 2765, Cl CT
4.000%, 03/15/19		1,557		1,687
FHLMC CMO, Ser 2778, Cl JD
5.000%, 12/15/32		1,974		2,141
FHLMC CMO, Ser 2812, Cl NO, PO
0.000%, 10/15/33		443		364
FHLMC CMO, Ser 2827, Cl CS
15.741%, 04/15/32 (A)		128		135
FHLMC CMO, Ser 2833, Cl KO, PO
0.000%, 08/15/34		214		206
FHLMC CMO, Ser 2843, Cl BC
5.000%, 08/15/19		1,740		1,936
FHLMC CMO, Ser 2864, Cl NB
5.500%, 07/15/33		2,000		2,235
FHLMC CMO, Ser 2865, Cl GO, PO
0.000%, 10/15/33		412		373
FHLMC CMO, Ser 2875, Cl HB
4.000%, 10/15/19		954		1,034
FHLMC CMO, Ser 2897, Cl EO, PO
0.000%, 10/15/31		513		483
FHLMC CMO, Ser 2903, Cl UZ
5.500%, 07/15/31		445		460
FHLMC CMO, Ser 2934, Cl CI
5.000%, 01/15/34		9,978		10,866
FHLMC CMO, Ser 2945, Cl SA
11.797%, 03/15/20 (A)		2,936		3,429
FHLMC CMO, Ser 2950, Cl JO, PO
0.000%, 03/15/20		533		499
FHLMC CMO, Ser 2957, Cl PT
5.500%, 11/15/33		6,333		6,840
FHLMC CMO, Ser 2981, Cl FA
0.676%, 05/15/35 (A)		902		897
FHLMC CMO, Ser 2990, Cl LK
0.646%, 10/15/34 (A)		853		852


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
FHLMC CMO, Ser 3001, Cl HP
20.896%, 05/15/35 (A)	$	145	$	200
FHLMC CMO, Ser 3006, Cl QS
19.392%, 07/15/35 (A)		868		1,226
FHLMC CMO, Ser 3012, Cl GK
23.508%, 06/15/35 (A)		134		173
FHLMC CMO, Ser 3028, Cl PG
5.500%, 09/15/35		389		421
FHLMC CMO, Ser 3035, Cl PA
5.500%, 09/15/35		947		1,063
FHLMC CMO, Ser 3049, Cl XF
0.626%, 05/15/33 (A)		1,103		1,100
FHLMC CMO, Ser 3052, Cl MH
5.250%, 10/15/34		2,836		3,045
FHLMC CMO, Ser 3076, Cl MP
0.000%, 10/15/30		11		11
FHLMC CMO, Ser 3137, Cl XP
6.000%, 04/15/36		1,162		1,286
FHLMC CMO, Ser 3195, Cl PD
6.500%, 07/15/36		2,500		2,871
FHLMC CMO, Ser 3202, Cl HI, IO
6.374%, 08/15/36 (A)		1,296		200
FHLMC CMO, Ser 3217, Cl CX, IO
6.314%, 09/15/36 (A)		1,067		146
FHLMC CMO, Ser 3262, Cl SG, IO
6.124%, 01/15/37 (A)		1,529		194
FHLMC CMO, Ser 3263, Cl WE
0.347%, 08/15/35 (A)		133		132
FHLMC CMO, Ser 3312, Cl BP
5.500%, 01/15/31		300		314
FHLMC CMO, Ser 3342, Cl VG
6.000%, 11/15/23		1,000		1,109
FHLMC CMO, Ser 3373, Cl TO, PO
0.000%, 04/15/37		365		339
FHLMC CMO, Ser 3383, Cl SA, IO
6.174%, 11/15/37 (A)		1,397		176
FHLMC CMO, Ser 3387, Cl SA, IO
6.144%, 11/15/37 (A)		1,021		106
FHLMC CMO, Ser 3422, Cl SE
16.760%, 02/15/38 (A)		270		323
FHLMC CMO, Ser 3437, Cl AI, IO
1.335%, 09/15/11		1,886		17
FHLMC CMO, Ser 3455, Cl SE, IO
5.924%, 06/15/38 (A)		4,133		392
FHLMC CMO, Ser 3461, Cl LZ
6.000%, 06/15/38		569		627
FHLMC CMO, Ser 3515, Cl PIM15, IO
5.500%, 07/15/37		1,258		132
FHLMC CMO, Ser 3546, Cl A
6.123%, 02/15/39 (A)		623		662
FHLMC CMO, Ser 3607, Cl BOPO, PO
0.000%, 04/15/36		500		442
FHLMC CMO, Ser 3611, Cl PO, PO
0.000%, 07/15/34		829		776
FHLMC CMO, Ser 3626, Cl MA
5.000%, 02/15/30		13,348		14,242
FHLMC CMO, Ser 3631, Cl PA
4.000%, 02/15/40		5,045		5,368


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
FHLMC CMO, Ser 3632, Cl BS
16.580%, 02/15/40 (A)	$	400	$	577
FHLMC CMO, Ser 3652, Cl AP
4.500%, 03/15/40		10,167		10,865
FHLMC CMO, Ser T-41, Cl 2A
6.976%, 07/25/32 (A)		861		997
FHLMC CMO, Ser T-42, Cl A5
7.500%, 02/25/42		1,185		1,389
FHLMC CMO, Ser T-54, Cl 3A
7.000%, 02/25/43		785		909
FHLMC CMO, Ser T-54, Cl 2A
6.500%, 02/25/43		634		715
FHLMC CMO, Ser T-57, Cl 1A1
6.500%, 07/25/43		743		837
FHLMC CMO, Ser T-58, Cl 4A
7.500%, 09/25/43		969		1,135
FHLMC CMO, Ser T-60, Cl 1A2
7.000%, 03/25/44		732		848
FHLMC CMO, Ser T-76, Cl 2A
4.794%, 10/25/37 (A)		1,527		1,575
FHLMC Multifamily Structured Pass Through Certificates, Ser K003, Cl AAB
4.768%, 05/25/18		2,824		3,102
FHLMC Multifamily Structured Pass Through Certificates, Ser K005, Cl A2
4.317%, 11/25/19		1,773		1,935
FHLMC Multifamily Structured Pass Through Certificates, Ser K007, Cl A1
3.342%, 12/25/19		2,826		2,977
FHLMC Reference REMIC CMO, Ser R007, Cl ZA
6.000%, 05/15/36		1,161		1,268
FHLMC REMIC, Ser 3346, Cl FA
0.506%, 02/15/19 (A)		16,133		16,094
FHLMC STRIPS CMO, Ser 239, Cl S30, IO
7.424%, 08/15/36 (A)		5,127		656
FHLMC, Ser 2479, Cl PG
6.000%, 08/15/32		2,529		2,767
FHLMC, Ser 2991, Cl EG
5.500%, 11/15/34		1,660		1,721
FHLMC, Ser 3102, Cl FB
0.576%, 01/15/36		653		650
FHLMC, Ser 3200, Cl AY
5.500%, 08/15/36		1,000		1,115
FHLMC, Ser 3523, Cl SD
18.904%, 06/15/36		902		1,181
FHLMC, Ser 3598, Cl MA
4.500%, 11/15/38		2,485		2,622
FHLMC, Ser 3680, Cl MA
4.500%, 07/15/39		1,992		2,143
FHLMC, Ser 3688, Cl NI, IO
5.000%, 04/15/32		2,977		369
FHLMC, Ser 3704, Cl DT
7.500%, 11/15/36		1,000		1,114
FHLMC, Ser 3704, Cl CT
7.000%, 12/15/36		3,000		3,330
FHLMC-GNMA CMO, Ser 21, Cl L
6.250%, 10/25/23		897		949


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
FNMA TBA
6.000%, 09/01/37	$	15,900	$	17,117
5.500%, 09/01/22 to 10/01/38		9,020		9,669
5.000%, 09/15/22 to 09/01/38		13,600		14,449
4.500%, 09/01/18 to 09//01/37		112,370		117,920
4.000%, 09/15/19 to 10/14/39		9,200		9,594
3.500%, 09/20/25 to 09/01/40		77,375		80,042
FNMA
8.000%, 04/01/15 to 11/01/37		1,476		1,634
7.500%, 06/01/30 to 04/01/39		4,289		4,814
7.000%, 12/01/15 to 01/01/39		11,791		13,277
6.500%, 05/01/17 to 07/01/39		49,575		54,316
6.000%, 03/01/19 to 11/01/48		238,262		260,550
5.500%, 04/01/14 to 08/01/37		209,242		226,138
5.000%, 02/01/20 to 03/01/34		57,682		61,808
4.500%, 07/01/20 to 04/01/38		37,081		39,387
4.000%, 04/01/19 to 11/01/20		3,198		3,382
3.500%, 07/01/25		1,175		1,221
FNMA ARM (A)
6.663%, 09/01/36		471		498
6.551%, 01/01/37		1,085		1,167
6.429%, 11/01/37		11		12
6.315%, 09/01/36		388		411
6.300%, 02/01/37		776		820
6.298%, 10/01/36		569		614
6.220%, 10/01/36		649		686
6.200%, 08/01/36		406		438
6.171%, 09/01/36		1,529		1,633
6.127%, 07/01/37		508		542
6.124%, 12/01/36		675		727
6.089%, 08/01/36		561		593
6.078%, 09/01/36		1,352		1,424
6.042%, 09/01/37		324		349
6.036%, 10/01/37		471		506
6.034%, 09/01/37		1,114		1,189
6.028%, 01/01/37		1,093		1,174
6.012%, 04/01/37		402		432
6.005%, 11/01/37		635		683
5.998%, 10/01/37		1,044		1,123
5.995%, 05/01/36		566		596
5.984%, 07/01/37		858		922
5.977%, 04/01/37		1,077		1,157
5.968%, 07/01/36		1,192		1,262
5.957%, 01/01/37		1,511		1,624
5.940%, 07/01/37		1,424		1,530
5.927%, 07/01/37		1,847		1,983
5.924%, 03/01/37		897		964


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
5.922%, 10/01/36 to 04/01/37	$	1,421	$	1,510
5.918%, 06/01/36		720		757
5.901%, 07/01/37		1,267		1,348
5.900%, 10/01/36		2,278		2,417
5.880%, 03/01/37		376		404
5.879%, 09/01/37		729		785
5.878%, 02/01/37		845		908
5.857%, 12/01/37		2,184		2,346
5.841%, 03/01/37		9,104		9,736
5.836%, 11/01/36		1,296		1,380
5.826%, 08/01/37		1,231		1,311
5.802%, 12/01/36		1,631		1,732
5.782%, 05/01/37		325		347
5.745%, 02/01/37		1,005		1,066
5.705%, 05/01/37		3,123		3,316
5.686%, 01/01/23		1,132		1,218
5.673%, 10/01/37		750		804
5.670%, 11/01/36		1,054		1,116
5.563%, 06/01/36		1,861		1,951
5.557%, 11/01/37		746		793
5.541%, 02/01/39		2,030		2,175
5.519%, 10/01/36		2,526		2,650
5.500%, 07/01/37		541		574
FNMA CMO, Cl IO, IO
6.166%, 03/25/37 (A)		21,281		2,723
FNMA CMO, Ser 1991-113, Cl ZE
7.500%, 09/25/21		335		394
FNMA CMO, Ser 1992-143, Cl M
8.000%, 09/25/22		871		1,035
FNMA CMO, Ser 1992-69, Cl Z
8.000%, 05/25/22		745		886
FNMA CMO, Ser 1992-96, Cl B, PO
0.000%, 05/25/22		1		1
FNMA CMO, Ser 1993-149, Cl SH
11.500%, 08/25/23 (A)		328		400
FNMA CMO, Ser 1993-75, Cl ZQ
6.500%, 05/25/23		1,386		1,561
FNMA CMO, Ser 1993-99, Cl Z
7.000%, 07/25/23		1,775		2,057
FNMA CMO, Ser 1994-31, Cl ZC
6.500%, 02/25/24		1,189		1,339
FNMA CMO, Ser 1994-63, Cl PK
7.000%, 04/25/24		1,074		1,212
FNMA CMO, Ser 1997-32, Cl PG
6.500%, 04/25/27		814		917
FNMA CMO, Ser 1999-11, Cl Z
5.500%, 03/25/29		1,889		2,038
FNMA CMO, Ser 2001-50, Cl BA
7.000%, 10/25/41		949		1,100
FNMA CMO, Ser 2001-71, Cl QE
6.000%, 12/25/16		1,501		1,632
FNMA CMO, Ser 2001-79, Cl BA
7.000%, 03/25/45		643		746
FNMA CMO, Ser 2001-81, Cl HE
6.500%, 01/25/32		13,764		15,499
FNMA CMO, Ser 2002-10, Cl SB
18.567%, 03/25/17 (A)		172		208
FNMA CMO, Ser 2002-81, Cl JO, PO
0.000%, 04/25/32		425		412


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
FNMA CMO, Ser 2002-90, Cl A1
6.500%, 06/25/42	$	857	$	965
FNMA CMO, Ser 2002-94, Cl HQ
4.500%, 01/25/18		2,400		2,582
FNMA CMO, Ser 2003-108, Cl BE
4.000%, 11/25/18		241		260
FNMA CMO, Ser 2003-125, Cl AY
4.000%, 12/25/18		667		721
FNMA CMO, Ser 2003-131, Cl SK
15.672%, 01/25/34 (A)		889		1,083
FNMA CMO, Ser 2003-24, Cl MV
5.500%, 02/25/14		1,142		1,234
FNMA CMO, Ser 2003-3, Cl HJ
5.000%, 02/25/18		1,018		1,113
FNMA CMO, Ser 2003-30, Cl HS, IO
7.386%, 07/25/17 (A)		1,416		88
FNMA CMO, Ser 2003-35, Cl EA, PO
0.000%, 05/25/33		761		686
FNMA CMO, Ser 2003-49, Cl YD
5.500%, 06/25/23		1,187		1,280
FNMA CMO, Ser 2003-50, Cl QJ
5.000%, 08/25/28		68		68
FNMA CMO, Ser 2003-91, Cl XT
4.500%, 12/25/17		1,099		1,117
FNMA CMO, Ser 2004-101, Cl HD
5.000%, 01/25/20		2,500		2,808
FNMA CMO, Ser 2004-3, Cl HT
4.000%, 02/25/19		10		11
FNMA CMO, Ser 2004-52, Cl PX, PO
0.000%, 09/25/32		353		338
FNMA CMO, Ser 2004-60, Cl PA
5.500%, 04/25/34		1,303		1,407
FNMA CMO, Ser 2004-61, Cl CO, PO
0.000%, 10/25/31		360		349
FNMA CMO, Ser 2005-106, Cl US
23.361%, 11/25/35 (A)		1,284		1,943
FNMA CMO, Ser 2005-123, Cl FG
0.714%, 07/25/34 (A)		811		810
FNMA CMO, Ser 2005-14, Cl BA
4.500%, 04/25/19		1,586		1,661
FNMA CMO, Ser 2005-45, Cl BG
4.500%, 06/25/25		564		578
FNMA CMO, Ser 2005-58, Cl MA
5.500%, 07/25/35		3,403		3,842
FNMA CMO, Ser 2005-72, Cl SB
16.216%, 08/25/35 (A)		770		961
FNMA CMO, Ser 2005-74, Cl CS
19.295%, 05/25/35 (A)		667		908
FNMA CMO, Ser 2005-88, Cl QO, PO
0.000%, 11/25/33		402		376
FNMA CMO, Ser 2005-90, Cl ES
16.216%, 10/25/35 (A)		502		628
FNMA CMO, Ser 2005-90, Cl PO, PO
0.000%, 09/25/35		449		428


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
FNMA CMO, Ser 2005-96, Cl BP
5.900%, 02/25/15	$	808	$	816
FNMA CMO, Ser 2006-118, Cl A2
0.324%, 12/25/36 (A)		1,284		1,261
FNMA CMO, Ser 2006-15, Cl OP, PO
0.000%, 03/25/36		514		438
FNMA CMO, Ser 2006-23, Cl FK
0.514%, 04/25/36 (A)		627		625
FNMA CMO, Ser 2006-27, Cl OH, PO
0.000%, 04/25/36		670		608
FNMA CMO, Ser 2006-3, Cl D0, PO
0.000%, 03/25/36		691		654
FNMA CMO, Ser 2006-33, Cl LS
28.963%, 05/25/36 (A)		502		739
FNMA CMO, Ser 2006-43, Cl VB
6.500%, 10/25/17		707		761
FNMA CMO, Ser 2006-44, Cl FP
0.664%, 06/25/36 (A)		855		855
FNMA CMO, Ser 2006-44, Cl P, PO
0.000%, 12/25/33		448		413
FNMA CMO, Ser 2006-46, Cl SW
23.232%, 06/25/36 (A)		610		909
FNMA CMO, Ser 2006-60, Cl UO, PO
0.000%, 07/25/36		1,154		1,053
FNMA CMO, Ser 2006-63, Cl ZH
6.500%, 07/25/36		852		995
FNMA CMO, Ser 2006-75, Cl VD
6.500%, 05/25/17		1,395		1,465
FNMA CMO, Ser 2006-78, Cl BZ
6.500%, 08/25/36		652		724
FNMA CMO, Ser 2007-100, Cl SM, IO
6.186%, 10/25/37 (A)		3,333		444
FNMA CMO, Ser 2007-112, Cl SA, IO
6.186%, 12/25/37 (A)		1,915		271
FNMA CMO, Ser 2007-113, Cl DB
4.500%, 12/25/22		3,696		4,100
FNMA CMO, Ser 2007-114, Cl A6
0.464%, 10/27/37 (A)		2,000		1,996
FNMA CMO, Ser 2007-116, Cl HI, IO
6.329%, 01/25/38 (A)		2,747		188
FNMA CMO, Ser 2007-30, Cl MA
4.250%, 02/25/37		1,134		1,216
FNMA CMO, Ser 2007-39, Cl NA
4.250%, 01/25/37		188		201
FNMA CMO, Ser 2007-43, Cl FL
0.564%, 05/25/37 (A)		502		500
FNMA CMO, Ser 2007-53, Cl SH, IO
5.836%, 06/25/37 (A)		2,533		306
FNMA CMO, Ser 2007-54, Cl FA
0.664%, 06/25/37 (A)		2,233		2,233
FNMA CMO, Ser 2007-60, Cl AX, IO
6.886%, 07/25/37 (A)		2,948		430


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
FNMA CMO, Ser 2007-74, Cl A
5.000%, 04/25/34	$	1,393	$	1,451
FNMA CMO, Ser 2007-75, Cl EO, PO
0.000%, 01/25/36		1,117		1,088
FNMA CMO, Ser 2007-79, Cl SB
23.050%, 08/25/37 (A)		247		362
FNMA CMO, Ser 2007-92, Cl YS, IO
5.516%, 06/25/37 (A)		2,455		230
FNMA CMO, Ser 2008-1, Cl BI, IO
5.646%, 02/25/38 (A)		2,856		295
FNMA CMO, Ser 2008-20, Cl SA, IO
6.726%, 03/25/38 (A)		1,542		206
FNMA CMO, Ser 2008-24, Cl DY
5.000%, 04/25/23		1,500		1,690
FNMA CMO, Ser 2008-32, Cl SA, IO
6.586%, 04/25/38 (A)		1,334		190
FNMA CMO, Ser 2008-35, Cl IM, IO
0.642%, 10/25/16 (A)		2,943		34
FNMA CMO, Ser 2008-4, Cl SD, IO
5.736%, 02/25/38 (A)		4,334		448
FNMA CMO, Ser 2008-53, Cl CA
5.000%, 07/25/23		3,500		3,906
FNMA CMO, Ser 2008-95, Cl BA
5.000%, 01/25/24		643		733
FNMA CMO, Ser 2009-103, Cl MB
4.000%, 12/25/39		1,452		1,537
FNMA CMO, Ser 2009-31, Cl A2
4.287%, 07/25/19		3,868		4,168
FNMA CMO, Ser 2009-52, Cl PI, IO
5.000%, 07/25/39		1,657		241
FNMA CMO, Ser 2009-71, Cl JT
6.000%, 06/25/36		2,876		3,140
FNMA CMO, Ser 2009-78, Cl J
5.000%, 09/25/19		5,147		5,525
FNMA CMO, Ser 2009-84, Cl WS, IO
5.636%, 10/25/39 (A)		2,045		160
FNMA CMO, Ser 2009-86, Cl BO, PO
0.000%, 03/25/37 (C)		12,149		11,038
FNMA CMO, Ser 2009-99, Cl SC, IO
5.916%, 12/25/39 (A)		2,381		200
FNMA CMO, Ser 2010-1, Cl WA
6.131%, 02/25/40 (A)		910		1,010
FNMA CMO, Ser 2010-16, Cl WA
6.428%, 03/25/40		939		1,027
FNMA CMO, Ser 2010-23, Cl KS, IO
6.836%, 02/25/40 (A)		2,298		305
FNMA CMO, Ser 2010-54, Cl EA
4.500%, 06/25/40		7,297		7,655
FNMA CMO, Ser 2010-64, Cl DM
5.000%, 06/25/40		1,934		2,100


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
FNMA CMO, Ser 2010-M1, Cl A2
4.450%, 09/25/19	$	1,374	$	1,504
FNMA CMO, Ser 2010-M3, Cl A3
4.332%, 03/25/20 (A)		8,896		9,594
FNMA CMO, Ser ACES, Cl A3
4.001%, 01/25/19		4,134		4,379
FNMA CMO, Ser G92-41, Cl MA
8.000%, 08/25/22		1,050		1,248
FNMA Grantor Trust CMO, Ser 2000-86, Cl A1
7.500%, 06/25/30		1,170		1,375
FNMA Grantor Trust CMO, Ser 2001-T10, Cl A2
7.500%, 12/25/41		2,613		3,072
FNMA Grantor Trust CMO, Ser 2002-T19, Cl A2
7.000%, 07/25/42		762		884
FNMA Grantor Trust CMO, Ser 2002-T3, Cl B
5.763%, 12/25/11		727		772
FNMA Grantor Trust CMO, Ser 2004-T3, Cl 1A3
7.000%, 02/25/44		971		1,125
FNMA Interest STRIP CMO, Ser 323, Cl 16, IO
7.000%, 01/01/32		961		284
FNMA Interest STRIP CMO, Ser 334, Cl 16, IO
6.500%, 02/01/33		1,570		289
FNMA Whole Loan CMO, Ser 2003-W1, Cl 2A
7.500%, 12/25/42		1,050		1,234
FNMA Whole Loan CMO, Ser 2003-W2, Cl 2A9
5.900%, 07/25/42		1,771		1,933
FNMA Whole Loan CMO, Ser 2003-W6, Cl 3A
6.500%, 09/25/42		870		972
FNMA Whole Loan CMO, Ser 2003-W8, Cl 2A
7.000%, 10/25/42		708		821
FNMA Whole Loan CMO, Ser 2004-W1, Cl 2A2
7.000%, 12/25/33		1,097		1,272
FNMA Whole Loan CMO, Ser 2004-W2, Cl 2A2
7.000%, 02/25/44		1,218		1,412
FNMA Whole Loan CMO, Ser 2004-W9, Cl 2A1
6.500%, 02/25/44		988		1,112
FNMA Whole Loan CMO, Ser 2005-W3, Cl 2AF
0.484%, 03/25/45 (A)		1,807		1,799
FNMA Whole Loan CMO, Ser 2006-W1, Cl 1A3
7.500%, 12/25/45		422		496
FNMA Whole Loan CMO, Ser 2006-W2, Cl 1AF1
0.484%, 02/25/36 (A)		870		862
FNMA Whole Loan CMO, Ser 2007-W1, Cl 1AF1
0.524%, 11/25/46 (A)		2,074		2,063


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
FNMA Whole Loan CMO, Ser 2007-W7, Cl 1A4
37.598%, 07/25/37 (A)	$	123	$	179
FNMA, Ser 2000-18, Cl EC, PO
0.000%, 10/25/23		330		297
FNMA, Ser 2003-23, Cl Q0, PO
0.000%, 01/25/32		772		753
FNMA, Ser 2004-17, Cl H
5.500%, 04/25/34		997		1,030
FNMA, Ser 2004-46, Cl EP, PO
0.000%, 03/25/34		818		776
FNMA, Ser 2004-W10, Cl A6
5.750%, 08/25/34		2,000		2,158
FNMA, Ser 2005-14, Cl BD
4.500%, 03/25/20		1,250		1,335
FNMA, Ser 2005-47, Cl PC
5.500%, 02/25/31		5,799		6,114
FNMA, Ser 2005-65, Cl WK
5.500%, 11/25/31		2,769		2,925
FNMA, Ser 2005-74, Cl SK
19.405%, 05/25/35		511		697
FNMA, Ser 2006-117, Cl GS, IO
6.386%, 12/25/36		1,314		115
FNMA, Ser 2006-59, Cl CO, PO
0.000%, 08/25/35		251		245
FNMA, Ser 2007-116, Cl PB
5.500%, 08/25/35		4,567		5,134
FNMA, Ser 2007-29, Cl SG
21.787%, 04/25/37 (A)		428		605
FNMA, Ser 2007-65, Cl KI, IO
6.356%, 07/25/37 (A)		3,480		298
FNMA, Ser 2007-72, Cl EK, IO
6.136%, 07/25/37		2,965		297
FNMA, Ser 2007-80, Cl PB
5.500%, 05/25/34		2,838		3,080
FNMA, Ser 2009-110, Cl DA
4.500%, 01/25/40		2,952		3,207
FNMA, Ser 2009-80, Cl KC
5.000%, 09/25/37		7,930		8,606
FNMA, Ser 2009-88, Cl B
6.000%, 11/25/39		8,255		8,952
FNMA, Ser 2009-93, Cl PD
4.500%, 09/25/39		2,280		2,446
FNMA, Ser 2010-15, Cl K4
4.000%, 03/25/39		3,616		3,823
FNMA, Ser 2010-35, Cl SB, IO
6.156%, 04/25/40		3,391		305
FNMA, Ser 2010-39, Cl OT, PO
0.000%, 10/25/35		897		795
FNMA, Ser 2010-58, Cl MA
5.500%, 12/25/38		8,423		9,299
FNMA, Ser 2010-68, Cl SA, IO
4.736%, 07/25/40 (A)		3,974		338
GNMA TBA
6.500%, 09/01/31		400		434
6.000%, 09/01/34		2,300		2,503
5.500%, 09/01/33		1,000		1,080
5.000%, 09/01/33		43,800		47,058
4.500%, 09/15/39 to 09/15/40		131,345		139,349
4.000%, 10/01/39		11,400		11,835


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
GNMA
9.500%, 12/15/20	$	10	$	11
7.500%, 10/15/37		1,675		1,864
7.000%, 04/15/26 to 06/15/35		4,834		5,478
6.500%, 01/15/24 to 02/15/39		15,425		17,360
6.000%, 11/15/23 to 09/15/34		19,993		22,002
5.852%, 05/20/37 (A)		3,940		394
5.834%, 08/20/39		3,044		271
5.500%, 11/01/18		1,958		2,111
4.500%, 07/16/40		14,773		16,047
4.000%, 07/20/40		3,499		3,696
3.500%, 08/20/40		2,271		2,372
3.000%, 08/20/40		3,282		3,393
1.347%, 05/20/60		5,437		5,573
GNMA CMO, Ser 2001-18, Cl WH
31.424%, 04/20/31 (A)		134		217
GNMA CMO, Ser 2001-22, Cl PS
20.301%, 03/17/31 (A)		1,007		1,457
GNMA CMO, Ser 2001-61, Cl Z
6.500%, 12/20/31		1,900		2,078
GNMA CMO, Ser 2002-23, Cl SD
20.213%, 04/16/32 (A)		1,489		2,142
GNMA CMO, Ser 2002-51, Cl SG
31.346%, 04/20/31 (A)		124		201
GNMA CMO, Ser 2002-57, Cl SB
108.361%, 08/16/32		99		330
GNMA CMO, Ser 2002-69, Cl SC
15.914%, 02/20/32 (A)		376		443
GNMA CMO, Ser 2003-60, Cl GS
11.957%, 05/16/33 (A)		220		254
GNMA CMO, Ser 2003-97, Cl SA, IO
6.274%, 11/16/33 (A)		739		123
GNMA CMO, Ser 2004-28, Cl SV
8.734%, 04/20/34 (A)		1,666		1,794
GNMA CMO, Ser 2004-34, Cl JO, PO
0.000%, 02/20/34		286		277
GNMA CMO, Ser 2004-34, Cl CS
19.148%, 02/20/34 (A)		91		123
GNMA CMO, Ser 2004-71, Cl ST
7.000%, 09/20/34 (A)		479		520
GNMA CMO, Ser 2004-85, Cl PO, PO
0.000%, 01/17/33		206		198
GNMA CMO, Ser 2004-87, Cl SB
7.359%, 03/17/33 (A)		384		406
GNMA CMO, Ser 2005-3, Cl SB, IO
5.834%, 01/20/35 (A)		2,034		251
GNMA CMO, Ser 2005-7, Cl JM
16.127%, 05/18/34 (A)		410		493
GNMA CMO, Ser 2005-92, Cl PB
6.000%, 12/20/35		1,000		1,140
GNMA CMO, Ser 2006-34, Cl PO, PO
0.000%, 07/20/36		253		234
GNMA CMO, Ser 2006-37, Cl JG
5.000%, 07/20/36		1,723		1,900


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
GNMA CMO, Ser 2006-38, Cl SW, IO
6.234%, 06/20/36 (A)	$	2,056	$	187
GNMA CMO, Ser 2007-17, Cl AF
0.476%, 04/16/37 (A)		983		978
GNMA CMO, Ser 2007-27, Cl SD, IO
5.934%, 05/20/37 (A)		1,290		131
GNMA CMO, Ser 2007-42, Cl SB, IO
6.484%, 07/20/37 (A)		1,826		175
GNMA CMO, Ser 2007-45, Cl QA, IO
6.374%, 07/20/37 (A)		1,226		153
GNMA CMO, Ser 2007-72, Cl USIO, IO
6.284%, 11/20/37 (A)		1,483		159
GNMA CMO, Ser 2007-78, Cl SA, IO
6.254%, 12/16/37 (A)		16,524		2,001
GNMA CMO, Ser 2007-81, Cl SP, IO
6.384%, 12/20/37 (A)		1,824		160
GNMA CMO, Ser 2007-82, Cl SA, IO
6.264%, 12/20/37 (A)		1,191		119
GNMA CMO, Ser 2007-9, Cl CI, IO
5.934%, 03/20/37 (A)		1,513		172
GNMA CMO, Ser 2008-10, Cl S, IO
5.564%, 02/20/38 (A)		2,142		152
GNMA CMO, Ser 2008-2, Cl MS, IO
6.884%, 01/16/38 (A)		1,339		147
GNMA CMO, Ser 2008-29, Cl PO, PO
0.000%, 02/17/33		571		534
GNMA CMO, Ser 2008-33, Cl XS, IO
7.424%, 04/16/38 (A)		888		104
GNMA CMO, Ser 2008-55, Cl SA, IO
5.934%, 06/20/38 (A)		2,108		196
GNMA CMO, Ser 2009-106, Cl AS, IO
6.124%, 11/16/39 (A)		2,810		225
GNMA CMO, Ser 2009-14, Cl NI, IO
6.500%, 03/20/39		57		6
GNMA CMO, Ser 2009-14, Cl KI, IO
6.500%, 03/20/39		1,197		143
GNMA CMO, Ser 2009-18, Cl PI, IO
5.500%, 11/16/37		1,636		231
GNMA CMO, Ser 2009-22, Cl SA, IO
6.004%, 04/20/39 (A)		3,277		278
GNMA CMO, Ser 2009-24, Cl DS, IO
6.034%, 03/20/39 (A)		2,078		172


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
GNMA CMO, Ser 2009-25, Cl SE, IO
7.334%, 09/20/38 (A)	$	1,256	$	148
GNMA CMO, Ser 2009-31, Cl TS, IO
6.034%, 03/20/39 (A)		3,353		334
GNMA CMO, Ser 2009-33, Cl TI, IO
6.000%, 05/20/39		545		63
GNMA CMO, Ser 2009-42, Cl IY, IO
1.000%, 06/16/37 (A)		2,886		68
GNMA CMO, Ser 2009-42, Cl SC, IO
5.814%, 06/20/39 (A)		1,173		107
GNMA CMO, Ser 2009-43, Cl SA, IO
5.684%, 06/20/39 (A)		2,981		251
GNMA CMO, Ser 2009-44, Cl MV
6.000%, 04/20/20		1,381		1,569
GNMA CMO, Ser 2009-6, Cl SH, IO
5.774%, 02/20/39 (A)		2,477		234
GNMA CMO, Ser 2009-65, Cl TS, IO
6.134%, 12/20/38 (A)		4,426		376
GNMA CMO, Ser 2009-65, Cl IQ, IO
6.000%, 12/20/38		1,475		136
GNMA CMO, Ser 2009-66, Cl LC
6.000%, 08/16/39		2,245		2,580
GNMA CMO, Ser 2009-67, Cl SA, IO
5.774%, 08/16/39 (A)		3,123		285
GNMA CMO, Ser 2009-79, Cl OK, PO
0.000%, 11/16/37		1,793		1,670
GNMA CMO, Ser 2010-14, Cl CO, PO
0.000%, 08/20/35		425		337
GNMA CMO, Ser 2010-59, Cl LB
4.500%, 10/20/39		2,900		3,135
GNMA, Ser 2009-75, Cl VM
5.000%, 12/20/19		1,116		1,238
GNMA, Ser 2010-4, Cl NS, IO
6.114%, 01/16/40 (A)		36,214		5,050
GNMA, Ser 2010-7, Cl EA
5.000%, 06/16/38		895		986

				2,113,293


Non-Agency Mortgage-Backed Obligations — 12.6%
American General Mortgage Loan Trust, Ser 2010-1A, Cl A1
5.650%, 03/25/58 (A) (B)		823		845
American General Mortgage Loan, Ser 2009-1, Cl A5
5.750%, 09/25/48 (A) (B)		900		928
American General Mortgage Loan, Ser 2009-1, Cl A7
5.750%, 09/25/48		1,500		1,445


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
American General Mortgage Loan, Ser 2009-1, Cl A4
5.750%, 09/25/48 (A) (B)	$	1,325	$	1,359
American Home Mortgage Assets, Ser 2006-5, Cl A1
1.322%, 11/25/46 (A)		1,548		782
American Home Mortgage Assets, Ser 2007-2, Cl A1
0.389%, 03/25/47 (A)		13,066		7,516
ASG Resecuritization Trust, Ser 2009-2, Cl A55
5.640%, 05/24/36 (A) (B)		965		972
ASG Resecuritization Trust, Ser 2009-3, Cl A65
5.594%, 03/26/37 (A) (B)		2,132		2,127
ASG Resecuritization Trust, Ser 2009-4, Cl A60
6.000%, 06/28/37 (B)		1,652		1,668
ASG Resecuritization Trust, Ser 2010-3, Cl 2A22
0.523%, 10/28/36		1,000		975
Asset Securitization, Ser 1996-D3, Cl A2
7.558%, 10/13/26 (A)		2,026		2,095
Banc of America Alternative Loan Trust, Ser 2003-11, Cl 1A1
6.000%, 01/25/34		404		424
Banc of America Alternative Loan Trust, Ser 2003-11, Cl 2A1
6.000%, 01/25/34		798		838
Banc of America Alternative Loan Trust, Ser 2003-7, Cl 2A4
5.000%, 09/25/18		1,045		1,075
Banc of America Alternative Loan Trust, Ser 2003-7, Cl 1CB1
5.500%, 09/25/33		602		606
Banc of America Alternative Loan Trust, Ser 2003-9, Cl 1CB2
5.500%, 11/25/33		913		933
Banc of America Alternative Loan Trust, Ser 2004-1, Cl 5A1
5.500%, 02/25/19		642		642
Banc of America Alternative Loan Trust, Ser 2004-8, Cl 3A1
5.500%, 09/25/19		566		587
Banc of America Alternative Loan Trust, Ser 2006-8, Cl 3A1
6.147%, 11/25/21 (A)		274		252
Banc of America Alternative Loan Trust, Ser 2007-1, Cl 2A1
5.986%, 04/25/37 (A)		476		332
Banc of America Commercial Mortgage Securities, Ser 2002- PB2, Cl A4
6.186%, 06/11/35		4,902		5,146
Banc of America Commercial Mortgage, Ser 2002-2, Cl B
5.271%, 07/11/43		681		705
Banc of America Commercial Mortgage Securities, Ser 2002- PB2, Cl B
6.309%, 06/11/35		916		963


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Banc of America Commercial Mortgage Securities, Ser 2003- 1, Cl A1
3.878%, 09/11/36	$	2,169	$	2,193
Banc of America Commercial Mortgage Securities, Ser 2004- 6, Cl A3
4.512%, 12/10/42		895		918
Banc of America Commercial Mortgage Securities, Ser 2005- 3, Cl A4
4.668%, 07/10/43		4,794		5,031
Banc of America Commercial Mortgage Securities, Ser 2005- 4, Cl A5A
4.933%, 07/10/45		2,366		2,494
Banc of America Commercial Mortgage Securities, Ser 2005- 5, Cl A4
5.115%, 10/10/45 (A)		300		327
Banc of America Commercial Mortgage Securities, Ser 2005- 6, Cl A4
5.350%, 09/10/47 (A)		2,658		2,933
Banc of America Commercial Mortgage Securities, Ser 2006- 4, Cl A4
5.634%, 07/10/46		800		856
Banc of America Commercial Mortgage, Ser 2002-2, Cl E
7.634%, 09/15/32 (A)		767		765
Banc of America Commercial Mortgage, Ser 2005-3, Cl AM
4.727%, 07/10/43		1,050		954
Banc of America Commercial Mortgage, Ser 2006-1, Cl A4
5.372%, 09/10/45 (A)		500		549
Banc of America Commercial Mortgage, Ser 2006-3, Cl A4
5.889%, 07/10/44 (A)		2,192		2,332
Banc of America Commercial Mortgage, Ser 2006-5, Cl A4
5.414%, 09/10/47		4,108		4,348
Banc of America Funding, Ser 2004-2, Cl 1CB1
5.750%, 09/20/34		645		646
Banc of America Funding, Ser 2004-3, Cl 1A7
5.500%, 10/25/34		938		935
Banc of America Funding, Ser 2004-C, Cl 1A1
5.032%, 12/20/34 (A)		494		506
Banc of America Funding, Ser 2005-B, Cl 2A1
3.028%, 04/20/35 (A)		4,403		3,180
Banc of America Funding, Ser 2010-R5, Cl 5A6
0.629%, 05/26/37 (A) (G)		1,767		1,753
Banc of America Mortgage Securities, Ser 2003-3, Cl 2A1
0.814%, 05/25/18 (A)		425		404


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Banc of America Mortgage Securities, Ser 2003-6, Cl 2A1
0.714%, 08/25/18 (A)	$	452	$	435
Banc of America Mortgage Securities, Ser 2003-E, Cl 2A2
2.870%, 06/25/33 (A)		412		386
Banc of America Mortgage Securities, Ser 2004-3, Cl 3A1
5.000%, 04/25/19		445		451
Banc of America Mortgage Securities, Ser 2004-3, Cl 1A23
4.500%, 04/25/34		575		575
Banc of America Mortgage Securities, Ser 2004-5, Cl 4A1
4.750%, 06/25/19		404		405
Banc of America Mortgage Securities, Ser 2004-9, Cl 3A1
6.500%, 09/25/32		270		278
BCAP LLC Trust, Ser 2009-RR10, Cl 17A1
5.750%, 06/26/37 (B)		2,004		2,024
BCAP LLC Trust, Ser 2009-RR13, Cl 11A1
5.250%, 05/26/37 (B)		603		600
BCAP LLC Trust, Ser 2009-RR5, Cl 8A1
5.500%, 11/26/34		1,331		1,318
BCAP LLC Trust, Ser 2010-RR7, Cl 16A1
1.102%, 02/26/47		677		626
BCAP LLC Trust, Ser 2010-RR7, Cl 1A5
5.033%, 04/26/35		1,000		1,005
BCAP LLC Trust, Ser 2010-RR5, Cl 2A5
5.183%, 04/26/37 (A) (B)		1,100		1,090
BCAP LLC Trust, Ser 2010-RR6, Cl 5A1
5.500%, 11/26/37 (B)		780		784
BCAP LLC Trust, Ser 2010-RR7, Cl 15A1
1.142%, 06/25/40		1,380		1,256
BCAP LLC Trust, Ser 2010-RR7, Cl 2A1
5.104%, 06/25/40		2,137		2,158
Bear Stearns Adjustable Rate Mortgage Trust, Ser 2004-2, Cl 14A
5.130%, 05/25/34 (A)		493		515
Bear Stearns Adjustable Rate Mortgage Trust, Ser 2004-2, Cl 24A
5.268%, 05/25/34 (A)		2,598		2,615
Bear Stearns Adjustable Rate Mortgage Trust, Ser 2005-5, Cl A1
2.320%, 08/25/35 (A)		621		589
Bear Stearns Alt-A Trust, Ser 2005-2, Cl 2A4
3.002%, 04/25/35 (A)		254		190


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Bear Stearns Asset Backed Securities Trust, Ser 2006-AC1, Cl 1A1
5.750%, 02/25/36	$	2,225	$	1,654
Bear Stearns Commercial Mortgage Securities, Ser 2007- PW16, Cl A1
5.593%, 06/11/40		667		686
Bear Stearns Commercial Mortgage Securities, Ser 2001- TOP2, Cl A2
6.480%, 02/15/35		241		245
Bear Stearns Commercial Mortgage Securities, Ser 2002- TOP8, Cl A2
4.830%, 08/15/38		454		479
Bear Stearns Commercial Mortgage Securities, Ser 2003- T-12, Cl A3
4.240%, 08/13/39 (A)		571		585
Bear Stearns Commercial Mortgage Securities, Ser 2004- PWR4, Cl A3
5.468%, 06/11/41 (A)		824		893
Bear Stearns Commercial Mortgage Securities, Ser 2005- PWR7, Cl A2
4.945%, 02/11/41		1,110		1,137
Bear Stearns Commercial Mortgage Securities, Ser 2005- T20, Cl A4A
5.297%, 10/12/42 (A)		6,500		7,187
Bear Stearns Commercial Mortgage Securities, Ser 2006- PW11, Cl A4
5.456%, 03/11/39 (A)		300		330
Bear Stearns Commercial Mortgage Securities, Ser 2006- T24, Cl A4
5.537%, 10/12/41		300		328
Bear Stearns Commercial Mortgage Securities, Ser 2007- PW10, Cl A4
5.405%, 12/11/40 (A)		867		944
Bear Stearns Commercial Mortgage Securities, Ser 2007- PW17, Cl A3
5.736%, 06/11/50		2,640		2,833
Chase Mortgage Finance, Ser 2003-S15, Cl 2A10
0.714%, 01/25/34 (A)		403		395
Chase Mortgage Finance, Ser 2003-S9, Cl AP, PO
0.000%, 10/25/18		297		247
Chase Mortgage Finance, Ser 2005-A1, Cl 2A3
5.204%, 12/25/35 (A)		13,166		11,498
Chase Mortgage Finance, Ser 2007-A1, Cl 9A1
4.439%, 02/25/37 (A)		374		376


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Chase Mortgage Finance, Ser 2007-A1, Cl 2A1
2.894%, 02/25/37 (A)	$	447	$	441
Chase Mortgage Finance, Ser 2007-A2, Cl 1A1
2.903%, 07/25/37 (A)		682		665
Citicorp Mortgage Securities, Ser 2003-6, Cl 1A2
4.500%, 05/25/33		195		196
Citicorp Mortgage Securities, Ser 2004-3, Cl A8
5.250%, 05/25/34		270		270
Citigroup Deutsche Bank Commercial Mortgage, Ser 2006-CD3, Cl A5
5.617%, 10/15/48		1,404		1,507
Citigroup Deutsche Bank Commercial Mortgage, Ser 2007-CD4, Cl A4
5.322%, 12/11/49		6,855		6,984
Citigroup Mortgage Loan Trust, Ser 2004-UST1, Cl A6
5.079%, 08/25/34 (A)		771		760
Citigroup Mortgage Loan Trust, Ser 2009-5, Cl 8A1
6.000%, 06/25/36 (B) (G)		1,504		1,391
Commercial Mortgage Asset Trust, Ser 1999-C1, Cl A4
6.975%, 01/17/32 (A)		3,887		4,252
Commercial Mortgage Pass Through Certificates, Ser 2004- LB2A, Cl A4
4.715%, 03/10/39		1,421		1,490
Commercial Mortgage Pass Through Certificates, Ser 2005- LP5, Cl A4
4.982%, 05/10/43 (A)		600		652
Commercial Mortgage Pass- Through Certificates, Ser 2001- J2A, Cl A2
6.096%, 07/16/34 (A)		239		250
Commercial Mortgage Pass- Through Certificates, Ser 2001- J2A, Cl B
6.304%, 07/16/34 (A)		2,500		2,756
Countrywide Alternative Loan Trust, Ser 2003-20CB, Cl 1A1
5.500%, 10/25/33		2,592		2,701
Countrywide Alternative Loan Trust, Ser 2004-27CB, Cl A1
6.000%, 12/25/34		2,285		2,011
Countrywide Alternative Loan Trust, Ser 2004-32CB, Cl 2A3, IO
4.836%, 02/25/35 (A)		41,472		4,452
Countrywide Alternative Loan Trust, Ser 2004-J1, Cl 1A1
6.000%, 02/25/34		386		402
Countrywide Alternative Loan Trust, Ser 2004-J6, Cl PO, PO
0.000%, 11/25/31		367		277


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Countrywide Alternative Loan Trust, Ser 2004-J6, Cl 2A1
6.500%, 11/25/31	$	1,335	$	1,381
Countrywide Alternative Loan Trust, Ser 2005-27, Cl 2A1
1.752%, 08/25/35 (A)		4,046		2,278
Countrywide Alternative Loan Trust, Ser 2005-27, Cl 3A2
1.502%, 08/25/35 (A)		1,011		535
Countrywide Alternative Loan Trust, Ser 2005-56, Cl 4A1
0.574%, 11/25/35 (A)		7,622		4,199
Countrywide Alternative Loan Trust, Ser 2005-59, Cl 1A1
0.668%, 11/20/35 (I)		5,426		3,105
Countrywide Alternative Loan Trust, Ser 2005-72, Cl A1
0.534%, 01/25/36 (A)		2,879		1,852
Countrywide Alternative Loan Trust, Ser 2006-0A9, Cl 2A1A
0.476%, 07/20/46 (A)		612		249
Countrywide Home Loan Mortgage Pass Through Trust, Ser 2003-39, Cl A6
5.000%, 10/25/33		847		848
Countrywide Home Loan Mortgage Pass Through Trust, Ser 2003-56, Cl 6A1
3.476%, 12/25/33 (A)		590		512
Countrywide Home Loan Mortgage Pass Through Trust, Ser 2003-J1, Cl A6
5.250%, 09/25/33		1,000		1,034
Countrywide Home Loan Mortgage Pass Through Trust, Ser 2003-J13, Cl 1A7
5.250%, 01/25/34		1,418		1,449
Countrywide Home Loan Mortgage Pass Through Trust, Ser 2003-J7, Cl 4A3
9.432%, 08/25/18 (A)		212		222
Countrywide Home Loan Mortgage Pass Through Trust, Ser 2004-20, Cl 2A1
2.948%, 09/25/34 (A)		91		39
Countrywide Home Loan Mortgage Pass Through Trust, Ser 2004-8, Cl 2A1
4.500%, 06/25/19		1,623		1,655
Countrywide Home Loan Mortgage Pass-Through Trust, Ser 2005-20, Cl A7
5.250%, 12/25/27		797		712
Countrywide Home Loan Mortgage Pass-Through Trust, Ser 2005-R3, Cl AF
0.664%, 09/25/35 (A) (B)		6,461		5,467
Credit Suisse First Boston Mortgage Securities, Ser 2001- CKN5, Cl A4
5.435%, 09/15/34		401		413


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Credit Suisse First Boston Mortgage Securities, Ser 2002- CKS4, Cl A1
4.485%, 11/15/36	$	29	$	29
Credit Suisse First Boston Mortgage Securities, Ser 2002- CKS4, Cl A2
5.183%, 11/15/36		3,030		3,206
Credit Suisse First Boston Mortgage Securities, Ser 2003- 27, Cl 5A3
5.250%, 11/25/33		1,134		1,162
Credit Suisse First Boston Mortgage Securities, Ser 2003- 29, Cl 5A1
7.000%, 12/25/33		313		324
Credit Suisse First Boston Mortgage Securities, Ser 2003- 29, Cl 8A1
6.000%, 11/25/18		645		663
Credit Suisse First Boston Mortgage Securities, Ser 2003- CPN1, Cl A2
4.597%, 03/15/35		1,452		1,531
Credit Suisse First Boston Mortgage Securities, Ser 2004- AR5, Cl 7A2
2.708%, 06/25/34 (A)		852		818
Credit Suisse First Boston Mortgage Securities, Ser 2005- 4, Cl 3A24
17.933%, 06/25/35 (A)		349		332
Credit Suisse First Boston Mortgage Securities, Ser 2005- C1, Cl A4
5.014%, 02/15/38 (A)		1,780		1,893
Credit Suisse First Boston Mortgage Securities, Ser 2005- C1, Cl A3
4.813%, 02/15/38		327		337
Credit Suisse First Boston Mortgage Securities, Ser 2005- C2, Cl A4
4.832%, 04/15/37		1,987		2,070
Credit Suisse First Boston Mortgage Securities, Ser 2005- C6, Cl A4
5.230%, 12/15/40 (A)		13,000		14,230
Credit Suisse First Boston Mortgage Securities, Ser 2003- C4, Cl B
5.253%, 08/15/36		2,005		2,075
Credit Suisse Mortgage Capital Certificate, Ser 2007-C1, Cl AAB
5.336%, 02/15/40		923		956
Credit Suisse Mortgage Capital Certificate, Ser 2007-C2, Cl A2
5.448%, 01/15/49		1,359		1,393


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Credit Suisse Mortgage Capital Certificates, Ser 2006-C2, Cl A3
5.658%, 03/15/39 (A)	$	825	$	871
Credit Suisse Mortgage Capital Certificates, Ser 2006-C4, Cl A3
5.467%, 09/15/39		1,853		1,923
Credit Suisse Mortgage Capital Certificates, Ser 2006-C5, Cl A3
5.311%, 12/15/39		3,212		3,310
Credit Suisse Mortgage Capital Certificates, Ser 2007-C5, Cl A3
5.694%, 09/15/40 (A)		1,960		2,036
Credit Suisse Mortgage Capital Certificates, Ser 2009-12R, Cl 7A1
5.500%, 10/27/35 (A)		803		808
Credit Suisse Mortgage Capital Certificates, Ser 2010-11R, Cl A1
1.260%, 06/28/47 (A) (B)		1,485		1,491
CW Capital Cobalt, Ser 2006-C1, Cl A4
5.223%, 08/15/48		825		841
Deutsche ALT-A Securities Alternate Loan Trust, Ser 2005- 1, Cl 2A1
5.586%, 02/25/20 (A)		400		390
Developers Diversified Realty, Ser 2009-DDR1, Cl A
3.807%, 10/14/22 (B)		2,516		2,652
DSLA Mortgage Loan Trust, Ser 2004-AR2, Cl A2B
0.667%, 11/19/44 (A)		2,135		793
DSLA Mortgage Loan Trust, Ser 2006-AR1, Cl 1A1A
1.322%, 03/19/46 (A)		402		200
FDIC Structured Sale Guaranteed Notes, Ser 2010-S1, Cl 1A
0.866%, 02/25/48 (A) (B)		6,979		6,999
First Horizon Asset Securities, Ser 2003-8, Cl 2A1
4.500%, 09/25/18		1,409		1,458
First Union National Bank Commercial Mortgage, Ser 2000-C2, Cl B
7.281%, 10/15/32 (A)		430		430
First Union National Bank Commercial Mortgage, Ser 2001-C4, Cl B
6.417%, 12/12/33		789		822
GE Capital Commercial Mortgage, Ser 2001-3, Cl A1
5.560%, 06/10/38		155		156
GE Capital Commercial Mortgage, Ser 2002-1A, Cl A3
6.269%, 12/10/35		1,562		1,651
GE Capital Commercial Mortgage, Ser 2007-C1, Cl A4
5.543%, 12/10/49		1,000		1,001
GMAC Commercial Mortgage Securities, Ser 2001-C2, Cl B
6.790%, 04/15/34		404		418


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
GMAC Commercial Mortgage Securities, Ser 2002-C3, Cl A2
4.930%, 07/10/39	$	445	$	471
GMAC Commercial Mortgage Securities, Ser 2003-C2, Cl D
5.492%, 05/10/40 (A)		654		663
GMAC Commercial Mortgage Securities, Ser 2003-C2, Cl A2
5.476%, 05/10/40 (A)		1,073		1,173
GMAC Commercial Mortgage Securities, Ser 2003-C3, Cl A4
5.023%, 04/10/40		760		824
GMAC Commercial Mortgage Securities, Ser 2004-C2, Cl A4
5.301%, 08/10/38 (A)		1,299		1,395
GMAC Commercial Mortgage Securities, Ser 2006-C1, Cl A4
5.238%, 11/10/45 (A)		700		750
GMAC Mortgage Loan Trust, Ser 2003-AR1, Cl A4
3.905%, 10/19/33 (A)		2,163		2,135
GMAC Mortgage Loan Trust, Ser 2003-GH2, Cl A4
5.000%, 10/25/33		701		698
GMAC Mortgage Loan Trust, Ser 2003-J7, Cl A7
5.000%, 11/25/33		1,120		1,067
GMAC Mortgage Loan Trust, Ser 2004-J4, Cl A1
5.500%, 09/25/34		187		188
GMAC Mortgage Loan Trust, Ser 2004-J5, Cl A7
6.500%, 01/25/35		1,009		1,033
GMAC Mortgage Loan Trust, Ser 2004-J6, Cl 1A1
5.000%, 01/25/20		622		640
GMAC Mortgage Loan Trust, Ser 2005-AR5, Cl 3A1
4.310%, 09/19/35 (A)		209		197
GMAC Mortgage Loan Trust, Ser 2005-AR6, Cl 2A1
4.984%, 11/19/35 (A)		949		703
GMAC Mortgage Loan Trust, Ser 2010-1, Cl A
4.250%, 07/25/40 (A)		736		750
GMAC Mortgage Loan Trust, Ser 2007-HE2, Cl A6
6.249%, 12/25/37		809		420
Greenpoint Mortgage Funding Trust, Ser 2007-AR1, Cl 1A1A
0.344%, 02/25/47 (A)		11,260		8,307
Greenwich Capital Commercial Funding, Ser 2004-GG1, Cl A6
5.135%, 06/10/36 (A)		1,622		1,725
Greenwich Capital Commercial Funding, Ser 2005-GG5, Cl A5
5.224%, 04/10/37 (A)		2,904		3,097
Greenwich Capital Commercial Funding, Ser 2006-GG7, Cl A4
6.085%, 07/10/38 (A)		10,875		11,839


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Greenwich Capital Commercial Funding, Ser 2007-GG9, Cl A4
5.444%, 03/10/39	$	7,000	$	7,332
GS Mortgage Securities II, Ser 2001-GL3A, Cl A2
6.449%, 08/05/18 (A) (B)		626		653
GS Mortgage Securities II, Ser 2004-C1, Cl A2
4.319%, 10/10/28		1,205		1,204
GS Mortgage Securities II, Ser 2005-GG4, Cl AABA
4.680%, 07/10/39		5,469		5,706
GS Mortgage Securities II, Ser 2006-GG6, Cl A4
5.553%, 04/10/38 (A)		1,000		1,072
GSMPS Mortgage Loan Trust, Ser 1998-1, Cl A
8.000%, 09/19/27 (B)		5		5
GSMPS Mortgage Loan Trust, Ser 2006-RP2, Cl 1AF1
0.664%, 04/25/36 (A) (B)		2,115		1,700
GSR Mortgage Loan Trust, Ser 2004-8F, Cl 2A3
6.000%, 09/25/34		704		721
GSR Mortgage Loan Trust, Ser 2005-5F, Cl 8A3
0.764%, 06/25/35 (A)		757		682
GSR Mortgage Loan Trust, Ser 2005-5F, Cl 2A3
5.500%, 06/25/35		509		515
GSR Mortgage Loan Trust, Ser 2007-1F, Cl 2A4
5.500%, 01/25/37		125		115
Impac Funding, Ser 2010-1, Cl A1
5.314%, 01/25/51 (A)		4,750		4,871
Impac Secured Assets CMN Owner Trust, Ser 2003-2, Cl A1
5.500%, 08/25/33		910		943
Impac Secured Assets CMN Owner Trust, Ser 2006-2, Cl 2A1
0.614%, 08/25/36 (A)		1,567		1,354
Indymac INDA Mortgage Loan Trust, Ser 2007-AR7, Cl 1A1
5.973%, 11/25/37 (A)		1,903		1,616
JP Morgan Chase Commercial Mortgage Securities, Ser 2002- C2, Cl B
5.211%, 12/12/34 (A)		403		421
JP Morgan Chase Commercial Mortgage Securities, Ser 2005- LDP2, Cl A3A
4.678%, 07/15/42		675		703
JP Morgan Chase Commercial Mortgage Securities, Ser 2007- LD12, Cl A3
5.990%, 02/15/51 (A)		4,861		5,101
JP Morgan Mortgage Trust
4.485%, 02/25/35 (A)		611		613


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
JP Morgan Mortgage Trust, Ser 2005-A1, Cl 3A4
5.013%, 02/25/35 (A)	$	1,000	$	1,000
JPMorgan Alternative Loan Trust, Ser 2006-A7, Cl 2A6
5.750%, 12/25/36 (A)		11,300		4,463
JPMorgan Chase Commercial Mortgage Securities, Ser 2001- CIB2, Cl D
6.847%, 04/15/35 (A)		851		859
JPMorgan Chase Commercial Mortgage Securities, Ser 2001- CIB3, Cl A3
6.465%, 11/15/35		289		302
JPMorgan Chase Commercial Mortgage Securities, Ser 2002- CIB5, Cl A2
5.161%, 10/12/37		969		1,031
JPMorgan Chase Commercial Mortgage Securities, Ser 2003- CB7, Cl A4
4.879%, 01/12/38 (A)		876		936
JPMorgan Chase Commercial Mortgage Securities, Ser 2004- C2, Cl A3
5.401%, 05/15/41 (A)		1,983		2,114
JPMorgan Chase Commercial Mortgage Securities, Ser 2004- CB9, Cl A4
5.360%, 06/12/41 (A)		651		698
JPMorgan Chase Commercial Mortgage Securities, Ser 2005- LDP4, Cl A4
4.918%, 10/15/42 (A)		1,167		1,255
JPMorgan Chase Commercial Mortgage Securities, Ser 2005- LDP5, Cl A4
5.179%, 12/15/44 (A)		5,930		6,502
JPMorgan Chase Commercial Mortgage Securities, Ser 2006- LDP8, Cl A4
5.399%, 05/15/45		500		536
JPMorgan Chase Commercial Mortgage Securities, Ser 2006- LDP9, Cl A2
5.134%, 05/15/47		2,564		2,735
JPMorgan Chase Commercial Mortgage Securities, Ser 2006- LDP9, Cl A3
5.336%, 05/15/47		1,812		1,887
JPMorgan Chase Commercial Mortgage Securities, Ser 2007- LD11, Cl ASB
6.006%, 06/15/49		1,361		1,450
JPMorgan Chase Commercial Mortgage Securities, Ser 2007- LD12, Cl A4
5.882%, 02/15/51 (A)		3,057		3,205
JPMorgan Chase Commercial Mortgage Securities, Ser 2007- LDPX, Cl A2S
5.305%, 01/15/49		6,589		6,610


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
JPMorgan Chase Commercial Mortgage Securities, Ser 2008- C2, Cl A1
5.017%, 02/12/51	$	12	$	12
JPMorgan Chase Commercial Mortgage Securities, Ser 2009- IWST, Cl A2
5.633%, 12/05/27 (B)		4,295		4,915
JPMorgan Chase Commercial Mortgage Securities, Ser 2010- C1, Cl A1
3.853%, 06/15/43 (B)		3,582		3,743
JPMorgan Commercial Mortgage Finance, Ser 2000-C10, Cl C
7.656%, 08/15/32 (A)		794		794
JPMorgan Mortgage Trust, Ser 2004-A3, Cl 4A1
4.286%, 07/25/34 (A)		278		282
JPMorgan Mortgage Trust, Ser 2004-A3, Cl SF3
4.554%, 06/25/34 (A)		3,439		3,316
JPMorgan Mortgage Trust, Ser 2004-A4, Cl 1A1
4.614%, 09/25/34 (A)		314		321
JPMorgan Mortgage Trust, Ser 2004-A5, Cl 4A4
4.819%, 12/25/34 (A)		11,500		11,521
JPMorgan Mortgage Trust, Ser 2004-A5, Cl 4A2
4.819%, 12/25/34 (A)		2,094		2,090
JPMorgan Mortgage Trust, Ser 2005-A2, Cl 5A2
4.314%, 04/25/35 (A)		360		362
JPMorgan Mortgage Trust, Ser 2006-A2, Cl 4A1
2.965%, 08/25/34 (A)		2,180		2,119
JPMorgan Mortgage Trust, Ser 2006-A2, Cl 2A2
5.750%, 04/25/36 (A)		13,400		10,939
JPMorgan Mortgage Trust, Ser 2006-A3, Cl 6A1
3.059%, 08/25/34 (A)		955		874
JPMorgan Mortgage Trust, Ser 2006-A3, Cl 3A4
5.724%, 05/25/36 (A)		14,500		12,259
LB Commercial Conduit Mortgage Trust, Ser 2007-C3, Cl A3
5.940%, 07/15/44 (A)		844		906
LB-UBS Commercial Mortgage Trust, Ser 2000-C5, Cl A2
5.594%, 06/15/31		12,470		13,238
LB-UBS Commercial Mortgage Trust, Ser 2001-C2, Cl A2
6.653%, 11/15/27		866		882
LB-UBS Commercial Mortgage Trust, Ser 2002-C4, Cl A4
4.563%, 09/15/26		640		657
LB-UBS Commercial Mortgage Trust, Ser 2002-C4, Cl A5
4.853%, 09/15/31		1,848		1,955


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
LB-UBS Commercial Mortgage Trust, Ser 2003-C8, Cl A4
5.124%, 11/15/32 (A)	$	18,003	$	19,552
LB-UBS Commercial Mortgage Trust, Ser 2004-C1, Cl A4
4.568%, 01/15/31		941		986
LB-UBS Commercial Mortgage Trust, Ser 2004-C2, Cl A4
4.367%, 03/15/36		1,699		1,745
LB-UBS Commercial Mortgage Trust, Ser 2004-C7, Cl A5
4.628%, 10/15/29		853		891
LB-UBS Commercial Mortgage Trust, Ser 2006-C1, Cl A4
5.156%, 02/15/31		350		377
LB-UBS Commercial Mortgage Trust, Ser 2006-C4, Cl A4
5.882%, 06/15/38 (A)		450		493
LB-UBS Commercial Mortgage Trust, Ser 2007-C1, Cl A3
5.398%, 02/15/40		272		288
LB-UBS Commercial Mortgage Trust, Ser 2007-C1, Cl AAB
5.403%, 02/15/40		420		450
LB-UBS Commercial Mortgage Trust, Ser 2008-C1, Cl A2
6.154%, 04/15/41 (A)		6,038		6,698
LB-UBS Commercial Mortgage Trust, Ser 2008-C1, Cl AAB
6.154%, 04/15/41		1,091		1,206
LVII Resecuritization Trust, Ser 2009-1, Cl A1
5.949%, 11/27/37		412		420
LVII Resecuritization Trust, Ser 2009-2, Cl A3
3.000%, 09/27/37 (A) (B)		1,000		998
Master Adjustable Rate Mortgages Trust, Ser 2004-13, Cl 3A7
2.924%, 11/21/34 (A)		1,585		1,416
Master Adjustable Rate Mortgages Trust, Ser 2004-13, Cl 3A7A
2.924%, 11/21/34 (A)		11,650		10,872
Master Adjustable Rate Mortgages Trust, Ser 2004-13, Cl 3A6
2.924%, 11/21/34 (A)		965		960
Master Adjustable Rate Mortgages Trust, Ser 2007-3, Cl 12A1
0.464%, 05/25/47 (A)		16,481		7,759
Master Alternative Loans Trust, Ser 2004-4, Cl 1A1
5.500%, 05/25/34		2,236		2,365
Master Reperforming Loan Trust, Ser 2005-1, Cl 1A1
6.000%, 08/25/34 (B)		3,614		3,528
Master Reperforming Loan Trust, Ser 2005-2, Cl 1A1F
0.614%, 05/25/35 (A) (B)		686		561
Master Reperforming Loan Trust, Ser 2006-1, Cl 1A1F
0.624%, 07/25/35 (A) (B)		1,556		1,275


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Master Resecuritization Trust, Ser 2005-PO, Cl 3PO, PO
0.000%, 05/28/35	$	577	$	369
MASTR Alternative Loans Trust, Ser 2003-9, Cl 2A1
6.000%, 12/25/33		596		612
MASTR Alternative Loans Trust, Ser 2006-3, Cl AA3
6.250%, 07/25/36		802		619
MASTR Asset Securitization Trust, Ser 2003-2, Cl 1A1
5.000%, 03/25/18		181		186
MASTR Asset Securitization Trust, Ser 2003-3, Cl 3A18
5.500%, 04/25/33		672		660
MASTR Asset Securitization Trust, Ser 2004-10, Cl SA1
0.664%, 11/25/34 (A)		100		96
Merrill Lynch Mortgage Investors, Ser 2003-A4, Cl 2A
2.875%, 07/25/33 (A)		240		240
Merrill Lynch Mortgage Investors, Ser 2004-A1, Cl 2A1
2.799%, 02/25/34 (A)		241		222
Merrill Lynch Mortgage Investors, Ser 2004-A1, Cl 4A
5.280%, 02/25/34 (A)		4,325		4,140
Merrill Lynch Mortgage Investors, Ser 2004-A4, Cl A2
2.803%, 08/25/34 (A)		465		470
Merrill Lynch Mortgage Investors, Ser 2005-A2, Cl A2
2.802%, 02/25/35 (A)		221		211
Merrill Lynch Mortgage Trust, Ser 2003-KEY1, Cl A4
5.236%, 11/12/35 (A)		2,767		2,988
Merrill Lynch Mortgage Trust, Ser 2004-KEY2, Cl A4
4.864%, 08/12/39 (A)		2,768		2,896
Merrill Lynch Mortgage Trust, Ser 2005-CIP1, Cl A3A
4.949%, 07/12/38 (A)		1,069		1,134
Merrill Lynch Mortgage Trust, Ser 2005-MCP1, Cl A4
4.747%, 06/12/43 (A)		343		370
Merrill Lynch Mortgage Trust, Ser 2006-1, Cl 1A
2.237%, 02/25/36 (A)		461		379
Merrill Lynch Mortgage Trust, Ser 2006-C1
5.655%, 05/12/39 (A)		505		542
Merrill Lynch, Ser 2006-4, Cl A3
5.172%, 12/12/49 (A)		18,579		19,209
Merrill Lynch/Countrywide Commercial Mortgage Trust, Ser 2007-6, Cl A4
5.485%, 03/12/51 (A)		3,700		3,687
Merrill Lynch/Countrywide Commercial Mortgage Trust, Ser 2007-7, Cl A4
5.748%, 06/12/50 (A)		3,595		3,613


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
MLCC Mortgage Investors, Ser 2004-A, Cl A2
0.684%, 04/25/29 (A)	$	416	$	380
MLCC Mortgage Investors, Ser 2004-B, Cl A3
2.001%, 05/25/29 (A)		585		573
MLCC Mortgage Investors, Ser 2004-D, Cl A2
0.894%, 08/25/29 (A)		513		473
MLCC Mortgage Investors, Ser 2005-1, Cl 2A2
2.223%, 04/25/35 (A)		254		236
MLCC Mortgage Investors, Ser 2005-1, Cl 2A1
2.223%, 04/25/35 (A)		82		78
Morgan Stanley Capital I, Ser 2003-IQ4, Cl A2
4.070%, 05/15/40		1,051		1,096
Morgan Stanley Capital I, Ser 2003-IQ6, Cl A
4.970%, 12/15/41		1,720		1,861
Morgan Stanley Capital I, Ser 2003-T11, Cl A4
5.150%, 06/13/41		1,231		1,326
Morgan Stanley Capital I, Ser 2004-HQ3, Cl A4
4.800%, 01/13/41		1,923		2,039
Morgan Stanley Capital I, Ser 2004-HQ4, Cl A7
4.970%, 04/14/40		6,639		6,874
Morgan Stanley Capital I, Ser 2004-IQ8, Cl A4
4.900%, 06/15/40		2,536		2,629
Morgan Stanley Capital I, Ser 2004-T15, Cl A4
5.270%, 06/13/41 (A)		1,073		1,152
Morgan Stanley Capital I, Ser 2005-HQ5, Cl A4
5.168%, 01/14/42		1,480		1,599
Morgan Stanley Capital I, Ser 2005-HQ5, Cl AAB
5.037%, 01/14/42		526		553
Morgan Stanley Capital I, Ser 2005-HQ6, Cl A4A
4.989%, 08/13/42		3,780		4,076
Morgan Stanley Capital I, Ser 2005-HQ7, Cl AAB
5.183%, 11/14/42 (A)		418		446
Morgan Stanley Capital I, Ser 2005-IQ9, Cl A5
4.700%, 07/15/56		1,745		1,849
Morgan Stanley Capital I, Ser 2005-T17, Cl A4
4.520%, 12/13/41		178		182
Morgan Stanley Capital I, Ser 2006-T21, Cl A4
5.162%, 10/12/52 (A)		7,300		7,900
Morgan Stanley Capital I, Ser 2007-HE2, Cl A2A
0.304%, 01/25/37 (A)		236		232


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Morgan Stanley Capital I, Ser 2007-HQ13, Cl A1
5.357%, 12/15/44	$	2,238	$	2,271
Morgan Stanley Capital I, Ser 2007-T27, Cl A4
5.649%, 06/11/42 (A)		300		330
Morgan Stanley Capital I, Ser 2008-T29, Cl A3
6.458%, 01/11/43		442		482
Morgan Stanley Dean Witter Capital I, Ser 2001-TOP3, Cl B
6.550%, 07/15/33		815		849
Morgan Stanley Dean Witter Capital I, Ser 2003-HQ2, Cl A2
4.920%, 03/12/35		1,060		1,129
Morgan Stanley Dean Witter Capital, Ser 2002-HQ, Cl B
6.640%, 04/15/34		680		724
Morgan Stanley Mortgage Loan Trust, Ser 2007-6XS, Cl 2A1S
0.374%, 02/25/47 (A)		458		364
New York Mortgage Trust, Ser 2006-1, Cl 2A2
5.539%, 05/25/36 (A)		788		734
Nomura Asset Securities, Ser 1998-D6, Cl A2
7.319%, 03/15/30 (A)		2,319		2,609
PNC Mortgage Acceptance, Ser 2001-C1, Cl A2
6.360%, 03/12/34		937		954
Prime Mortgage Trust, Ser 2004- CL1, Cl 1PO, PO
0.000%, 02/25/34		144		106
Prime Mortgage Trust, Ser 2004- CL1, Cl 1A1
6.000%, 02/25/34		411		426
Prime Mortgage Trust, Ser 2006- DR1, Cl 2A1
5.500%, 05/25/35 (A)		2,895		2,563
Prudential Mortgage Capital Funding LLC, Ser 2001-ROCK, Cl B
6.760%, 05/10/34		867		895
RBSGC Mortgage Pass Through Certificates, Ser 2007-B, Cl 1A4
0.714%, 01/25/37 (A)		6,084		3,466
RBSSP Resecuritization Trust, Ser 2010-4, Cl 12A1
4.500%, 03/26/21 (B)		1,053		1,071
Residential Accredit Loans, Ser 2003-QS15, Cl A7
5.500%, 08/25/33		587		598
Residential Accredit Loans, Ser 2003-QS18, Cl A1
5.000%, 09/25/18		558		567
Residential Accredit Loans, Ser 2003-QS19, Cl A1
5.750%, 10/25/33		563		569
Residential Accredit Loans, Ser 2004-QS7, Cl A4
5.500%, 05/25/34		1,396		1,198


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Residential Accredit Loans, Ser 2005-Q02, Cl A1
1.762%, 09/25/45 (A)	$	1,132	$	669
Residential Accredit Loans, Ser 2006-QO8, Cl 1A1A
0.354%, 10/25/46 (A)		3,022		2,946
Residential Asset Mortgage Products, Ser 2004-SL1, Cl A8
6.500%, 11/25/31		1,006		990
Residential Asset Mortgage Products, Ser 2004-SL3, Cl A2
6.500%, 12/25/31		1,850		1,800
Residential Asset Securitization Trust, Ser 2003-A5, Cl A1
5.500%, 06/25/33		639		637
Residential Asset Securitization Trust, Ser 2004-IP2, Cl 2A1
2.845%, 12/25/34 (A)		1,892		1,780
Salomon Brothers Mortgage Securities VII, Ser 2000-C2 C, Cl C
7.727%, 07/18/33 (A)		369		367
Salomon Brothers Mortgage Securities VII, Ser 2002-KEY2, Cl A2
4.467%, 03/18/36		229		236
Salomon Brothers Mortgage Securities VII, Ser 2003-HYB1, Cl A
3.690%, 09/25/33 (A)		956		934
Sequoia Mortgage Trust, Ser 2010-H1, Cl A1
3.750%, 02/25/40 (A)		1,349		1,350
Station Place Securitization Trust, Ser 2009-1, Cl A
1.764%, 01/25/40 (A) (G)		1,000		1,002
Structured Adjustable Rate Mortgage Loan Trust, Ser 2005-18, Cl 1A1
5.538%, 09/25/35 (A)		4,498		3,517
Structured Adjustable Rate Mortgage Loan Trust, Ser 2005-19XS, Cl 1A1
0.584%, 10/25/35 (A)		5,444		3,624
Structured Asset Mortgage Investments, Ser 2004-AR8, Cl A1
0.607%, 05/19/35 (A)		230		167
Structured Asset Mortgage Investments, Ser 2006-AR6, Cl 1A3
0.454%, 07/25/46 (A)		208		107
Structured Asset Mortgage Investments, Ser 2006-AR8, Cl A1A
0.464%, 10/25/36 (A)		6,408		3,734
Structured Asset Mortgage Investments, Ser 2007-AR4, Cl GA4B
0.444%, 09/25/47 (A)		18,134		10,320


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Structured Asset Securities, Ser 2003-16, Cl A3
0.764%, 06/25/33 (A)	$	1,217	$	1,112
Structured Asset Securities, Ser 2003-31A, Cl 2A7
2.469%, 10/25/33 (A)		11,012		10,374
Structured Asset Securities, Ser 2003-32, Cl 1A1
5.149%, 11/25/33 (A)		323		326
Structured Asset Securities, Ser 2003-33H, Cl 1A1
5.500%, 10/25/33		1,099		1,099
Structured Asset Securities, Ser 2003-37A, Cl 2A
4.996%, 12/25/33 (A)		442		452
Structured Asset Securities, Ser 2004-5H, Cl A4
5.540%, 12/25/33		1,000		1,023
Structured Asset Securities, Ser 2005-6, Cl 5A8
13.372%, 05/25/35 (A)		147		148
Thornburg Mortgage Securities Trust, Ser 2003-4, Cl A1
0.584%, 09/25/43 (A)		225		206
Thornburg Mortgage Securities Trust, Ser 2007-4, Cl 3A1
6.139%, 09/25/37 (A)		6,005		5,757
TIAA Seasoned Commercial Mortgage Trust, Ser 2007-C4, Cl A3
6.071%, 08/15/39 (A)		2,500		2,788
US Bank National Mortgage Association, Ser 2007-1, Cl A
5.920%, 05/25/12		4,395		4,602
Vendee Mortgage Trust CMO, Ser 1993-1, Cl ZB
7.250%, 02/15/23		2,875		3,368
Virginia Housing Development Authority, Ser 2006-2, Cl CTFS
6.000%, 06/25/34		593		596
Wachovia Bank Commercial Mortgage Trust, Ser 2002-C1, Cl A4
6.287%, 04/15/34		2,587		2,744
Wachovia Bank Commercial Mortgage Trust, Ser 2003-C7, Cl A1
4.241%, 10/15/35 (B)		331		334
Wachovia Bank Commercial Mortgage Trust, Ser 2003-C8, Cl A3
4.445%, 11/15/35		870		890
Wachovia Bank Commercial Mortgage Trust, Ser 2005-C18, Cl A4
4.935%, 04/15/42		1,658		1,793
WaMu Mortgage Pass Through Certificates, Ser 2004-S1, Cl 1A3
0.664%, 03/25/34 (A)		493		481


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
WaMu Mortgage Pass Through Certificates, Ser 2004-S2, Cl 2A4
5.500%, 06/25/34	$	701	$	727
WaMu Mortgage Pass Through Certificates, Ser 2006-AR7, Cl 2A
1.382%, 07/25/46 (A)		1,226		743
WaMu Mortgage Pass-Through Certificates, Ser 2002-AR18, Cl A
2.794%, 01/25/33 (A)		364		363
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR10, Cl A7
2.823%, 10/25/33 (A)		649		618
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR6, Cl A1
2.701%, 06/25/33 (A)		638		625
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR7, Cl A7
2.678%, 08/25/33 (A)		577		555
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR8, Cl A
2.822%, 08/25/33 (A)		338		339
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR9, Cl 1A6
2.829%, 09/25/33 (A)		1,208		1,203
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR9, Cl 2A
2.883%, 09/25/33 (A)		394		394
WaMu Mortgage Pass-Through Certificates, Ser 2003-MS1, Cl 1A
5.000%, 02/25/18		517		526
WaMu Mortgage Pass-Through Certificates, Ser 2003-S11, Cl 2A5
16.325%, 11/25/33 (A)		931		947
WaMu Mortgage Pass-Through Certificates, Ser 2003-S13, Cl 21A1
4.500%, 12/25/18		630		653
WaMu Mortgage Pass-Through Certificates, Ser 2003-S4, Cl 2A10
16.737%, 06/25/33 (A)		192		201
WaMu Mortgage Pass-Through Certificates, Ser 2003-S9, Cl A8
5.250%, 10/25/33		2,146		2,088
WaMu Mortgage Pass-Through Certificates, Ser 2004-AR11, Cl A
2.800%, 10/25/34 (A)		46		42


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
WaMu Mortgage Pass-Through Certificates, Ser 2004-AR3, Cl A1
2.709%, 06/25/34 (A)	$	335	$	317
WaMu Mortgage Pass-Through Certificates, Ser 2004-CB2, Cl 7A
5.500%, 08/25/19		749		775
WaMu Mortgage Pass-Through Certificates, Ser 2005-AR11, Cl A1A
0.584%, 08/25/45 (A)		160		130
WaMu Mortgage Pass-Through Certificates, Ser 2005-AR13, Cl A1A1
0.554%, 10/25/45 (A)		4,026		3,222
WaMu Mortgage Pass-Through Certificates, Ser 2005-AR15, Cl A1A2
0.544%, 11/25/45 (A)		6,283		4,516
WaMu Mortgage Pass-Through Certificates, Ser 2005-AR16, Cl 1A4A
5.047%, 12/25/35 (A)		13,585		10,642
WaMu Mortgage Pass-Through Certificates, Ser 2005-AR19, Cl A1A2
0.554%, 12/25/45 (A)		5,981		4,546
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR1, Cl 1A1B
1.483%, 01/25/46 (A)		3,294		878
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR13, Cl 2A
3.291%, 10/25/46 (A)		1,560		1,073
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR14, Cl 1A4
5.521%, 11/25/36 (A)		490		372
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR15, Cl 1A1B
1.242%, 11/25/46 (A)		1,783		387
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR15, Cl 2A1B
3.291%, 11/25/46 (A)		2,055		669
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR15, Cl 1A
1.242%, 11/25/46 (A)		3,090		2,051
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR17, Cl 2A
3.291%, 12/25/46 (A)		697		409
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR17, Cl 1A1B
1.212%, 12/25/46 (A)		621		201


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR4, Cl DA
1.372%, 06/25/46 (A)	$	1,324	$	587
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR7, Cl A1B
1.322%, 09/25/46 (A)		1,044		97
WaMu Mortgage Pass-Through Certificates, Ser 2007-HY1, Cl 1A1
5.531%, 02/25/37 (A)		6,404		4,657
WaMu Mortgage Pass-Through Certificates, Ser 2007-HY1, Cl 4A1
5.307%, 02/25/37 (A)		8,912		6,584
WaMu Mortgage Pass-Through Certificates, Ser 2007-HY3, Cl 4A1
5.348%, 03/25/37 (A)		422		352
WaMu Mortgage Pass-Through Certificates, Ser 2007-HY3, Cl 1A1
5.464%, 03/25/37 (A)		7,492		5,358
WaMu Mortgage Pass-Through Certificates, Ser 2007-OA5, Cl A1B
1.242%, 05/25/47 (A)		15,998		3,587
WaMu Mortgage Pass-Through Certificates, Ser 2007-OA5, Cl 1A
1.152%, 06/25/47 (A)		12,714		7,894
WaMu Mortgage Pass-Through Certificates, Ser 2007-OA6, Cl 1A
1.212%, 07/25/47 (A)		12,848		8,064
Washington Mutual Alternative Mortgage Pass-Through Certificates, Ser 2005-3, Cl CX, IO
5.500%, 05/25/35		828		152
Washington Mutual Mortgage Pass Through Certificates, Ser 2004-AR3, Cl A2
4.243%, 06/25/34 (A)		438		429
Washington Mutual MSC Mortgage Pass-Through CTFS, Ser 2003-MS8, Cl 1P, PO
0.000%, 05/25/33		377		262
Washington Mutual MSC Mortgage Pass-Through CTFS, Ser 2003-MS9, Cl 2P, PO
0.000%, 04/25/33		678		509
Wells Fargo Mortgage Backed Securities Trust, Ser 2003-15, Cl 1A1
4.750%, 12/25/18		2,305		2,389
Wells Fargo Mortgage Backed Securities Trust, Ser 2003-C, Cl A6
3.307%, 02/25/33 (A)		705		708


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Wells Fargo Mortgage Backed Securities Trust, Ser 2003-J, Cl 2A5
4.438%, 10/25/33 (A)	$	302	$	305
Wells Fargo Mortgage Backed Securities Trust, Ser 2003-K, Cl 1A1
4.474%, 11/25/33 (A)		1,399		1,374
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-0, Cl A1
4.857%, 08/25/34 (A)		629		638
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-B, Cl A1
4.895%, 02/25/34 (A)		1,013		1,031
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-E, Cl A2
4.500%, 05/25/34 (A)		237		233
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-E, Cl A8
4.855%, 05/25/34 (A)		1,000		1,003
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-EE, Cl 3A2
3.128%, 12/25/34 (A)		467		449
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-EE, Cl 2A1
2.902%, 12/25/34 (A)		999		962
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-EE, Cl 3A1
3.128%, 12/25/34 (A)		312		303
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-I, Cl 1A1
3.248%, 07/25/34 (A)		955		937
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-L, Cl A6
4.795%, 07/25/34 (A)		895		907
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-L, Cl A5
4.795%, 07/25/34 (A)		223		223
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-P, Cl 2A1
2.976%, 09/25/34 (A)		651		638
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-V, Cl 1A2
2.932%, 10/25/34 (A)		693		687
Wells Fargo Mortgage Backed Securities Trust, Ser 2004-V, Cl 1A1
2.932%, 10/25/34 (A)		867		849


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Wells Fargo Mortgage Backed Securities Trust, Ser 2005-13, Cl A1
5.000%, 11/25/20	$	621	$	645
Wells Fargo Mortgage Backed Securities Trust, Ser 2005- AR14, Cl A1
5.371%, 08/25/35 (A)		875		853
Wells Fargo Mortgage Backed Securities Trust, Ser 2005-AR8, Cl 2A1
2.981%, 06/25/35 (A)		1,214		1,215
Wells Fargo Mortgage Backed Securities Trust, Ser 2006- AR18, Cl 1A1
5.766%, 11/25/36 (A)		1,046		958
Wells Fargo Mortgage-Backed Securities Trust, Ser 2004-EE, Cl 2A2
2.902%, 12/25/34 (A)		666		647
				740,215
Total Mortgage-Backed Securities (Cost $2,825,309) ($ Thousands)				2,853,508

CORPORATE OBLIGATIONS — 27.6%

Consumer Discretionary — 1.7%
British Sky Broadcasting Group
9.500%, 11/15/18 (B)		1,960		2,711
CBS
7.875%, 07/30/30 (C)		160		196
5.750%, 04/15/20 (C)		92		102
Comcast
6.500%, 01/15/15		3,635		4,262
6.500%, 01/15/17 (C)		7,925		9,391
6.400%, 03/01/40 (C)		1,950		2,225
5.150%, 03/01/20		420		458
4.950%, 06/15/16		4,125		4,558
Comcast Cable Communications
8.375%, 03/15/13		3,307		3,843
6.750%, 01/30/11 (C)		1,840		1,885
COX Communications
5.450%, 12/15/14		1,695		1,910
CVS
5.789%, 01/10/26 (B)		1,922		1,982
CVS Caremark
6.600%, 03/15/19		280		336
CVS Lease Pass-Through
6.036%, 12/10/28 (B)		6,020		6,350
5.880%, 01/10/28 (B)		174		182
DaimlerChrysler
7.300%, 01/15/12		2,515		2,707
6.500%, 11/15/13 (C)		460		525
DirecTV
6.000%, 08/15/40		4,744		4,993
4.600%, 02/15/21		1,708		1,744
Eastman Kodak
7.250%, 11/15/13		2,245		2,105
Grupo Televisa
6.625%, 01/15/40		1,309		1,484
Historic TW
9.150%, 02/01/23		500		689


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Kohl’s
6.250%, 12/15/17	$	255	$	303
Lowe’s MTN
7.110%, 05/15/37		400		526
McDonald’s MTN
5.350%, 03/01/18		2,350		2,774
Newell Rubbermaid
4.700%, 08/15/20(C)		176		184
News America
6.650%, 11/15/37		260		301
Omnicom Group
4.450%, 08/15/20		1,088		1,115
Staples
9.750%, 01/15/14		305		378
Target
7.000%, 01/15/38		135		177
4.000%, 06/15/13		355		383
Thomson Reuters
5.950%, 07/15/13		1,350		1,518
4.700%, 10/15/19		250		277
Time Warner
7.625%, 04/15/31(C)		4,830		6,020
6.100%, 07/15/40		2,475		2,693
4.700%, 01/15/21		3,460		3,631
Time Warner Cable
8.750%, 02/14/19		3,320		4,362
8.250%, 04/01/19(C)		3,235		4,149
7.300%, 07/01/38(C)		400		494
6.750%, 07/01/18(C)		120		143
6.550%, 05/01/37		3,426		3,907
5.850%, 05/01/17		1,230		1,403
Time Warner Entertainment
8.375%, 07/15/33		100		131
Viacom
6.250%, 04/30/16		300		350
Wal-Mart Stores
5.800%, 02/15/18		1,990		2,392
5.250%, 09/01/35		1,035		1,134
4.875%, 07/08/40		3,780		3,960
Wm. Wrigley Jr.
3.700%, 06/30/14(B)		1,625		1,684
				99,027

Consumer Staples — 1.3%
Altria Group
10.200%, 02/06/39		880		1,272
9.700%, 11/10/18		2,090		2,769
9.250%, 08/06/19		2,300		3,014
Anheuser-Busch InBev Worldwide
7.750%, 01/15/19 (B) (C)		7,700		9,862
7.200%, 01/15/14(B)		100		117
5.375%, 11/15/14(B)		4,885		5,475
5.375%, 01/15/20(C)		3,150		3,548
5.000%, 04/15/20(B)		910		998
4.125%, 01/15/15		4,620		4,950
Bunge Finance
8.500%, 06/15/19(C)		350		423
5.900%, 04/01/17		107		114
Cargill
7.350%, 03/06/19(B)		400		507
CVS Caremark
6.125%, 09/15/39		140		158


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Diageo Capital
4.828%, 07/15/20(C)	$	300	$	340
Diageo Finance BV
5.500%, 04/01/13		300		332
Dr Pepper Snapple Group
6.820%, 05/01/18		2,870		3,535
2.350%, 12/21/12		2,735		2,786
Kraft Foods
6.750%, 02/19/14(C)		200		232
6.500%, 08/11/17		100		119
6.500%, 02/09/40		6,590		7,817
6.125%, 08/23/18(C)		700		822
5.375%, 02/10/20		13,115		14,575
Kroger
7.500%, 04/01/31		110		143
5.400%, 07/15/40		45		48
PepsiCo
7.900%, 11/01/18		1,580		2,117
5.500%, 01/15/40(C)		1,535		1,785
Reynolds American
7.250%, 06/01/12		2,090		2,255
SABMiller
5.500%, 08/15/13(B)		320		352
Safeway
6.350%, 08/15/17		2,726		3,237
				73,702

Energy — 2.5%
Anadarko Finance
7.500%, 05/01/31		73		70
Anadarko Petroleum
8.700%, 03/15/19(C)		150		165
7.625%, 03/15/14(C)		450		484
6.950%, 06/15/19		90		91
6.375%, 09/15/17		3,412		3,376
5.950%, 09/15/16(C)		5,010		4,962
ANR Pipeline
9.625%, 11/01/21		100		145
Apache
6.000%, 09/15/13		3,300		3,708
5.625%, 01/15/17		390		451
5.100%, 09/01/40		1,615		1,665
Baker Hughes
7.500%, 11/15/18		2,290		2,931
BP Capital Markets PLC
3.125%, 03/10/12		630		631
Cenovus Energy
5.700%, 10/15/19		150		174
CenterPoint Energy Resources
7.875%, 04/01/13		170		196
Commonwealth Edison
4.000%, 08/01/20		1,345		1,419
Conoco Funding
7.250%, 10/15/31		885		1,159
6.950%, 04/15/29		2,515		3,245
ConocoPhillips
6.000%, 01/15/20(C)		460		559
5.900%, 10/15/32		10		12
5.900%, 05/15/38		3,845		4,589
Consolidated Edison of New York
5.700%, 06/15/40(C)		154		176
Duke Capital LLC
8.000%, 10/01/19(C)		702		892


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
El Paso
6.950%, 06/01/28	$	2,250	$	2,081
EnCana
6.500%, 05/15/19 (C)		565		688
Energy Transfer Partners
9.000%, 04/15/19		2,240		2,802
6.700%, 07/01/18		2,830		3,205
Enterprise Products Operating LLC
9.750%, 01/31/14 (C)		3,610		4,425
Gaz Capital for Gazprom
6.212%, 11/22/16 (B)		427		451
Georgia Power
4.750%, 09/01/40		69		69
Halliburton
6.150%, 09/15/19 (C)		300		355
Hess
8.125%, 02/15/19		4,200		5,474
7.300%, 08/15/31		1,445		1,758
5.600%, 02/15/41		1,114		1,155
Husky Energy
5.900%, 06/15/14		1,630		1,820
Kerr-McGee
6.950%, 07/01/24		925		936
Kinder Morgan Energy Partners
7.125%, 03/15/12		1,760		1,896
6.550%, 09/15/40		854		952
6.000%, 02/01/17		610		689
5.000%, 12/15/13		1,190		1,285
Marathon Oil
7.500%, 02/15/19 (C)		300		381
Motiva Enterprises LLC
6.850%, 01/15/40 (B)		3,050		3,782
Occidental Petroleum
7.000%, 11/01/13		4,440		5,226
Panhandle Eastern Pipeline
8.125%, 06/01/19		1,086		1,313
Pemex Project Funding Master Trust
6.625%, 06/15/35		5,602		6,092
1.136%, 12/03/12 (A) (B)		201		200
Petrobras International Finance
6.875%, 01/20/40		2,553		2,817
6.125%, 10/06/16		1,300		1,455
5.750%, 01/20/20		1,127		1,208
Petro-Canada
6.800%, 05/15/38		4,630		5,567
6.050%, 05/15/18		260		303
Petroleos Mexicanos
5.500%, 01/21/21		525		548
Plains All American Pipeline
3.950%, 09/15/15		2,159		2,251
Ras Laffan Liquefied Natural Gas III
5.500%, 09/30/14 (B)		2,900		3,204
Rockies Express Pipeline LLC
3.900%, 04/15/15 (B)		4,520		4,493
Shell International Finance BV
6.375%, 12/15/38		2,790		3,558
4.375%, 03/25/20		90		99
4.300%, 09/22/19		1,000		1,084
3.100%, 06/28/15		3,881		4,063


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Sonat
7.625%, 07/15/11	$	2,880	$	2,990
Statoil ASA
3.125%, 08/17/17 (C)		4,725		4,876
Suncor Energy
6.500%, 06/15/38		2,180		2,539
Talisman Energy
7.750%, 06/01/19		390		492
Tosco
7.800%, 01/01/27		210		274
TransCanada Pipelines
7.125%, 01/15/19 (C)		200		257
TransCanada PipeLines
6.500%, 08/15/18 (C)		425		520
Union Pacific Resources Group
7.150%, 05/15/28		150		143
Valero Energy
9.375%, 03/15/19 (C)		8,370		10,665
Williams
8.750%, 03/15/32 (C)		1,606		2,025
7.875%, 09/01/21		2,862		3,476
7.750%, 06/15/31		548		637
5.250%, 03/15/20		1,140		1,231
Williams, Ser A
7.500%, 01/15/31		2,265		2,578
XTO Energy
7.500%, 04/15/12		1,320		1,461
6.250%, 08/01/17		380		469
5.650%, 04/01/16		390		463
5.500%, 06/15/18		2,692		3,219
4.625%, 06/15/13		100		110
				147,210

Financials — 15.1%
ACE INA Holdings
5.600%, 05/15/15		380		430
Achmea Hypotheekbank
3.200%, 11/03/14 (B)		7,010		7,405
Aegon, Ser CMS
3.227%, 07/29/49 (A)		2,180		1,314
AEP Texas Central Transition Funding LLC
5.090%, 07/01/15		8,975		10,166
4.980%, 07/01/13		5,025		5,331
AFLAC
6.450%, 08/15/40		92		97
Allstate
5.000%, 08/15/14		300		334
7.450%, 05/16/19		4,580		5,654
American Express
7.250%, 05/20/14		2,515		2,925
7.000%, 03/19/18 (C)		500		598
5.875%, 05/02/13		2,100		2,309
American Express Credit MTN
7.300%, 08/20/13		500		573
5.125%, 08/25/14		4,270		4,693
American General Finance MTN
6.900%, 12/15/17		1,200		930
American Honda Finance
2.375%, 03/18/13 (B)		150		153


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
American International Group
8.250%, 08/15/18	$	980	$	1,058
6.250%, 03/15/37		5,000		3,625
5.850%, 01/16/18 (C)		2,670		2,577
ANZ National Int’l
2.375%, 12/21/12 (B)		190		193
ASIF Global Financing XIX
4.900%, 01/17/13 (B)		450		459
Associates Corp of North America
6.950%, 11/01/18		450		499
Australia & New Zealand Banking Group
3.700%, 01/13/15 (B)		4,000		4,182
0.681%, 10/29/49 (A)		1,400		854
BA Covered Bond Issuer
5.500%, 06/14/12 (B)		1,500		1,586
BAC Capital Trust XIV
5.630%, 03/15/12 (A)		180		122
BAC Capital Trust XV
1.338%, 06/01/56 (A)		9,235		5,707
Bank of America
7.625%, 06/01/19		1,015		1,188
7.400%, 01/15/11		2,500		2,560
7.375%, 05/15/14		3,995		4,560
6.500%, 08/01/16		8,755		9,781
6.100%, 06/15/17		2,000		2,150
6.000%, 09/01/17		2,170		2,339
5.750%, 12/01/17		2,405		2,546
5.650%, 05/01/18		240		249
5.625%, 07/01/20		6,240		6,429
5.420%, 03/15/17		4,730		4,842
4.500%, 04/01/15		7,022		7,277
3.700%, 09/01/15		2,625		2,620
Bank of Montreal
2.850%, 06/09/15(B)		5,080		5,329
Bank of New York Mellon MTN
4.600%, 01/15/20(C)		160		177
2.950%, 06/18/15		500		523
Bank of Nova Scotia
3.400%, 01/22/15		328		349
Bank of Tokyo-Mitsubishi UFJ
3.850%, 01/22/15 (B) (C)		2,227		2,371
Barclays Bank
6.050%, 12/04/17 (B)		2,490		2,680
5.200%, 07/10/14		1,430		1,573
5.125%, 01/08/20 (C)		4,330		4,603
5.000%, 09/22/16 (C)		4,800		5,209
2.500%, 01/23/13 (C)		500		509
0.625%, 08/07/49 (A)		380		217
Barnett Capital III
1.091%, 02/01/27 (A)		600		414
BB&T
6.850%, 04/30/19 (C)		115		140
4.900%, 06/30/17		400		424
3.950%, 04/29/16 (C)		555		583
3.850%, 07/27/12		150		157
3.375%, 09/25/13 (C)		620		649
Bear Stearns
7.250%, 02/01/18 (C)		2,930		3,552
6.950%, 08/10/12		245		271
6.400%, 10/02/17		3,910		4,546
4.650%, 07/02/18		3,000		3,142


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Berkshire Hathaway
3.200%, 02/11/15	$	3,010	$	3,178
Berkshire Hathaway Finance
5.400%, 05/15/18 (C)		400		459
BlackRock
6.250%, 09/15/17		280		329
Boeing Capital
4.700%, 10/27/19		920		1,034
BP Capital Markets
5.250%, 11/07/13 (C)		3,230		3,352
3.875%, 03/10/15 (C)		630		624
3.625%, 05/08/14 (C)		100		99
Branch Banking & Trust
5.625%, 09/15/16		325		368
Canadian Imperial Bank
2.600%, 07/02/15 (B)		2,575		2,641
Capital One Bank USA
8.800%, 07/15/19		2,115		2,679
Capital One Financial
7.375%, 05/23/14		450		524
6.750%, 09/15/17 (C)		590		701
Caterpillar Financial Services MTN
7.150%, 02/15/19 (C)		250		322
6.200%, 09/30/13 (C)		5,640		6,462
5.850%, 09/01/17 (C)		580		676
CDP Financial
3.000%, 11/25/14 (B)		6,800		7,021
Cedar Brakes I LLC
8.500%, 02/15/14 (B)		941		972
Charles Schwab
4.950%, 06/01/14 (C)		100		110
Chase Capital VI
1.091%, 08/01/28 (A)		2,000		1,517
Cie de Financement Foncier
2.125%, 04/22/13 (B)		2,100		2,127
Citigroup
8.500%, 05/22/19		600		734
8.125%, 07/15/39 (C)		400		498
6.875%, 03/05/38		6,660		7,213
6.500%, 08/19/13		2,920		3,196
6.375%, 08/12/14		4,946		5,412
6.125%, 05/15/18		390		421
6.125%, 08/25/36		1,500		1,443
6.010%, 01/15/15		1,330		1,433
6.000%, 12/13/13		3,920		4,229
6.000%, 08/15/17 (C)		6,175		6,618
5.875%, 02/22/33		6,150		5,814
5.500%, 04/11/13		1,758		1,866
5.500%, 10/15/14 (C)		1,000		1,065
5.500%, 02/15/17		6,880		7,069
5.375%, 08/09/20 (C)		875		883
5.000%, 09/15/14		2,890		2,969
4.750%, 05/19/15		3,020		3,111
0.867%, 08/25/36 (A)		2,839		1,873
Citigroup Capital III
7.625%, 12/01/36		2,000		1,884
Citigroup Funding MTN
1.875%, 10/22/12		6,280		6,434
0.805%, 04/30/12 (A)		4,900		4,934
City National Capital Trust I
9.625%, 02/01/40		5,010		5,276


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
CME Group
5.750%, 02/15/14	$	177	$	201
CNA Financial
5.875%, 08/15/20 (C)		274		276
Commonwealth Bank of Australia
5.000%, 10/15/19 (B)		900		972
3.750%, 10/15/14 (B)		2,110		2,235
Corestates Capital I
8.000%, 12/15/26 (B)		629		657
Countrywide Financial MTN
5.800%, 06/07/12 (C)		4,283		4,555
4.000%, 03/22/11		2,250		2,291
Countrywide Financial, Ser 2006
6.250%, 05/15/16		1,130		1,211
Credit Agricole
8.375%, 12/31/49 (A)(B)		4,740		4,947
Credit Suisse NY MTN
6.000%, 02/15/18		9,130		9,954
5.500%, 05/01/14		125		138
5.300%, 08/13/19 (C)		600		659
5.000%, 05/15/13		4,189		4,532
3.500%, 03/23/15		2,880		2,987
3.450%, 07/02/12 (C)		300		311
Credit Suisse USA
5.125%, 01/15/14 (C)		335		364
5.125%, 08/15/15 (C)		310		345
Depfa ACS Bank
5.125%, 03/16/37 (B)		2,190		1,727
Deutsche Bank
3.875%, 08/18/14 (C)		295		314
2.375%, 01/11/13 (C)		2,500		2,545
Deutsche Bank Capital Funding Trust
5.628%, 01/19/49 (A)(B)		4,789		3,975
Dexia Credit Local
2.750%, 04/29/14 (B)		13,575		13,856
Dresdner Funding Trust I
8.151%, 06/30/31 (B)		365		318
Erhvervsbank A/S
2.000%, 06/12/13 (B)		4,070		4,131
ERP Operating
5.750%, 06/15/17 ‡(C)		500		564
5.125%, 03/15/16 ‡		1,000		1,088
Export-Import Bank of Korea
5.875%, 01/14/15		2,545		2,849
5.500%, 10/17/12		1,510		1,609
Farmers Exchange Capital
7.200%, 07/15/48 (B)		2,519		2,443
7.050%, 07/15/28 (B)		1,063		1,059
Farmers Insurance Exchange
8.625%, 05/01/24(B)		4,118		4,828
First Chicago NBD Institutional Capital I
1.016%, 02/01/27 (A)		3,750		2,846
First Industrial MTN
7.500%, 12/01/17		1,765		1,478
Fleet Capital Trust II
7.920%, 12/11/26		1,600		1,604
FMR LLC
6.450%, 11/15/39(B)		250		266


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
General Electric Capital MTN
6.875%, 01/10/39	$	5,361	$	6,275
6.375%, 11/15/67 (A)		8,925		8,568
6.000%, 08/07/19		920		1,034
5.900%, 05/13/14 (C)		5,010		5,664
5.875%, 01/14/38		6,875		7,069
5.625%, 09/15/17		800		885
5.625%, 05/01/18		6,775		7,482
5.500%, 01/08/20 (C)		910		996
5.450%, 01/15/13 (C)		180		195
5.400%, 02/15/17		1,800		1,966
2.625%, 12/28/12		6,140		6,396
2.000%, 09/28/12		12,410		12,747
0.815%, 05/05/26 (A)		4,345		3,545
0.797%, 09/15/14 (A)		6,550		6,264
0.647%, 04/10/12 (A)		500		497
0.475%, 03/20/14 (A)		2,000		1,890
Glitnir Banki
7.451%, 09/14/16 (D)		500		—
6.693%, 06/15/16 (B)(D)		4,480		—
6.375%, 09/25/12 (D)		3,100		883
6.330%, 07/28/11 (D)		2,440		695
GMAC
7.250%, 03/02/11		1,744		1,772
2.738%, 12/01/14 (A)		4,579		3,937
1.750%, 10/30/12		3,960		4,046
Goldman Sachs Capital II
5.793%, 12/29/49 (A)(C)		17,630		14,170
Goldman Sachs Group
7.500%, 02/15/19		8,855		10,326
6.750%, 10/01/37		7,116		7,268
6.600%, 01/15/12		2,960		3,162
6.250%, 09/01/17		1,400		1,556
6.150%, 04/01/18 (C)		7,800		8,519
6.000%, 06/15/20		1,613		1,738
5.950%, 01/18/18		500		541
5.450%, 11/01/12		750		804
5.375%, 03/15/20		540		557
5.300%, 02/14/12		150		157
5.250%, 10/15/13 (C)		980		1,061
5.150%, 01/15/14		470		504
4.750%, 07/15/13		230		244
3.700%, 08/01/15		4,300		4,353
3.625%, 08/01/12 (C)		470		486
1.028%, 01/12/15 (A)		3,000		2,844
0.912%, 07/22/15 (A)		1,000		937
Hartford Financial Services Group
5.500%, 03/30/20		2,095		2,109
HBOS
6.750%, 05/21/18 (B)		5,100		4,986
HBOS Capital Funding
6.071%, 06/30/49 (A)(B)		1,920		1,498
HCP MTN
6.700%, 01/30/18 ‡		5,408		5,942
6.300%, 09/15/16 ‡		349		375
6.000%, 01/30/17 ‡		6,575		6,992
5.650%, 12/15/13 ‡		2,765		2,960
Highwoods Properties
7.500%, 04/15/18 ‡		1,339		1,497
Hongkong & Shanghai Banking
0.687%, 07/22/49 (A)		195		113


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
HRPT Properties Trust
6.650%, 01/15/18 ‡	$	255	$	273
6.250%, 08/15/16 ‡		300		319
HSBC Bank
4.125%, 08/12/20		261		265
0.850%, 06/29/49 (A)		1,160		673
HSBC Bank USA NA
4.875%, 08/24/20		3,240		3,347
HSBC Bank USA NY
4.625%, 04/01/14		300		320
HSBC Finance
7.000%, 05/15/12		1,975		2,133
6.375%, 11/27/12 (C)		365		397
5.500%, 01/19/16		600		656
4.750%, 07/15/13		166		176
0.776%, 01/15/14 (A)		500		474
HSBC Holdings
6.800%, 06/01/38		3,099		3,669
Hutchison Whampoa International
4.625%, 09/11/15 (B)		5,390		5,695
ILFC E-Capital Trust II
6.250%, 12/21/65 (A) (B) (C)		1,200		763
International Lease Finance
6.750%, 09/01/16		4,150		4,243
6.500%, 09/01/14		4,190		4,295
5.250%, 01/10/13 (C)		400		380
Intesa San Paulo
3.625%, 08/12/15		1,660		1,670
Itau Unibanco Holding MTN
6.200%, 04/15/20 (B) (C)		2,670		2,829
Jackson National Life Global Funding MTN
5.375%, 05/08/13 (B)		610		657
Jefferies Group
6.450%, 06/08/27		590		594
6.250%, 01/15/36		400		374
John Deere Capital MTN
5.750%, 09/10/18		300		358
JPMorgan Chase
6.000%, 10/01/17		4,435		5,003
5.750%, 01/02/13		810		878
5.150%, 10/01/15		240		260
5.125%, 09/15/14		136		149
4.950%, 03/25/20		440		465
3.700%, 01/20/15		370		387
JPMorgan Chase Bank
6.000%, 07/05/17		2,300		2,571
0.866%, 06/13/16 (A)		4,250		4,023
JPMorgan Chase Capital XIII
1.483%, 09/30/34 (A)		1,440		1,093
JPMorgan Chase Capital XXII
6.450%, 02/02/37		500		492
JPMorgan Chase Capital XXIII
1.376%, 05/15/47 (A)		4,000		2,868
JPMorgan Chase Capital XXV
6.800%, 10/01/37		2,745		2,810
Kaupthing Bank
7.625%, 02/28/15 (D)		8,130		2,032
7.125%, 05/19/16 (B) (D)		12,000		1
5.750%, 10/04/11 (D)		1,120		280


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
KeyBank
5.800%, 07/01/14 (C)	$	600	$	655
KFW
1.375%, 07/15/13		3,675		3,724
Kilroy Realty
6.625%, 06/01/20 ‡ (B)		1,260		1,296
Korea Development Bank
4.375%, 08/10/15 (C)		2,040		2,164
Kreditanstalt fuer Wiederaufbau
3.500%, 03/10/14		3,080		3,331
Landsbanki Islands
6.100%, 08/25/11 (D)		6,520		636
Lazard Group
7.125%, 05/15/15		2,845		3,066
6.850%, 06/15/17		3,920		4,173
LBG Capital No. 1 MTN
8.000%, 12/15/49 (A)		4,400		3,850
Lehman Brothers Holdings MTN
6.750%, 12/28/17 (D)		10,370		3
6.500%, 07/19/17 (D)		4,040		6
6.200%, 09/26/14 (D)		1,560		328
5.250%, 02/06/12 (D)		965		203
Lehman Brothers Holdings Capital
Trust VII MTN
5.857%, 11/29/49 (D)		20,630		2
Liberty Mutual Group
7.500%, 08/15/36 (B)		1,668		1,681
Lloyds TSB Bank MTN
5.800%, 01/13/20 (B)		480		495
4.375%, 01/12/15 (B)		3,050		3,133
M&T Bank
5.375%, 05/24/12		325		345
Massachusetts Mutual Life Insurance
8.875%, 06/01/39 (B)		3,010		4,275
MassMutual Global Funding II
3.625%, 07/16/12 (B)		300		313
2.875%, 04/21/14 (B)		122		128
MBNA Capital, Ser A
8.278%, 12/01/26		3,185		3,265
Merrill Lynch
7.430%, 09/01/22 (G)		4		4
6.875%, 04/25/18		980		1,080
6.400%, 08/28/17 (C)		900		972
6.150%, 04/25/13 (C)		210		229
5.700%, 05/02/17		600		625
MetLife
7.717%, 02/15/19		3,500		4,388
6.750%, 06/01/16		2,950		3,502
6.400%, 12/15/36		10,020		9,118
MetLife Capital Trust X
9.250%, 04/08/38 (A) (B)		2,700		3,105
MetLife Global Funding I
2.875%, 09/17/12 (B)		600		616
Metropolitan Life Global Funding I
5.125%, 04/10/13 (B)		200		218
5.125%, 06/10/14 (B)		1,575		1,745
2.500%, 01/11/13 (B)		325		332
Monumental Global Funding
5.500%, 04/22/13 (B)		235		254


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Morgan Stanley
7.300%, 05/13/19	$	215	$	244
6.625%, 04/01/18		5,190		5,703
6.250%, 08/28/17 (C)		550		599
6.000%, 05/13/14		5,135		5,596
5.950%, 12/28/17		1,688		1,795
5.625%, 09/23/19 (C)		1,190		1,211
5.550%, 04/27/17		7,214		7,559
5.500%, 01/26/20		2,172		2,199
5.500%, 07/24/20		1,760		1,773
5.300%, 03/01/13 (C)		400		428
4.750%, 04/01/14		2,270		2,338
4.200%, 11/20/14 (C)		1,836		1,891
0.975%, 10/18/16 (A)		7,725		6,738
0.889%, 06/20/12 (A)		7,510		7,566
0.830%, 01/09/14 (A)		1,475		1,376
0.775%, 01/18/11 (A)		215		215
National Australia Bank
5.350%, 06/12/13 (B)		5,495		6,004
3.750%, 03/02/15 (B)		455		479
2.500%, 01/08/13 (B) (C)		550		559
National Capital Trust II
5.486%, 12/29/49 (A) (B)		3,207		2,963
National City
4.900%, 01/15/15 (C)		400		440
National City Bank
5.800%, 06/07/17		250		275
0.908%, 06/07/17 (A)		3,000		2,689
National Rural Utilities Cooperative Finance
10.375%, 11/01/18		230		331
2.625%, 09/16/12		95		98
Nationwide Mutual Insurance
6.600%, 04/15/34 (B)		2,483		2,296
5.810%, 12/15/24 (A) (B)		3,900		3,370
NB Capital Trust IV
8.250%, 04/15/27		2,305		2,362
New York Life Global Funding
4.650%, 05/09/13 (B)		300		325
3.000%, 05/04/15 (B)		5,380		5,594
NIBC Bank MTN
2.800%, 12/02/14 (B)		4,335		4,511
Noble Holding
6.200%, 08/01/40		1,677		1,879
Nomura Holdings
6.700%, 03/04/20 (C)		429		490
5.000%, 03/04/15		130		140
Nordea Bank
4.875%, 01/27/20 (B) (C)		140		152
3.700%, 11/13/14 (B)		6,665		6,997
Northern Trust
5.500%, 08/15/13		85		95
Northwestern Mutual Life Insurance
6.063%, 03/30/40 (B)		2,655		3,132
Pacific Life Global Funding MTN
5.150%, 04/15/13 (B)		370		398
5.000%, 05/15/17 (B)		170		180
PNC Funding
5.125%, 02/08/20 (C)		340		367


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Power Receivables Finance
6.290%, 01/01/12	$	1,234	$	1,255
6.290%, 01/01/12 (B)		390		390
PPF Funding
5.500%, 01/15/14 ‡ (B)		5,000		5,054
Pricoa Global Funding I
5.450%, 06/11/14 (B)		300		334
Prime Property Funding II
5.600%, 06/15/11 (B)		3,380		3,434
Principal Life Global Funding I
6.250%, 02/15/12 (B)		600		636
5.050%, 03/15/15 (B)		750		783
Principal Life Income Funding Trusts MTN
5.100%, 04/15/14		600		652
Prudential Holdings LLC
8.695%, 12/18/23 (B)		2,500		3,187
1.414%, 12/18/17 (A) (B)		3,725		3,214
Qtel International Finance
5.000%, 07/21/20		3,770		3,965
Rabobank Nederland
11.000%, 12/31/49 (A) (B)		2,823		3,694
3.200%, 03/11/15 (B)		700		724
Reckson Operating Partnership
7.750%, 03/15/20 ‡ (B)		1,539		1,557
Resona Preferred Global Securities Cayman
7.191%, 07/30/49 (A) (B)		3,240		3,107
Royal Bank of Canada
0.535%, 06/29/85 (A)		860		507
Royal Bank of Scotland
4.875%, 03/16/15		800		835
Royal Bank of Scotland Group MTN
7.640%, 09/29/17		1,300		858
6.400%, 10/21/19		4,330		4,629
RSHB Capital
6.299%, 05/15/17 (B)		1,190		1,235
Santander US Debt Unipersonal
3.724%, 01/20/15 (B)		3,100		3,092
Security Benefit Life Insurance
8.750%, 05/15/16 (B)		5,200		4,628
Shinsei Finance Cayman
6.418%, 01/29/49 (A) (B) (C)		5,605		3,796
Simon Property Group
10.350%, 04/01/19 ‡		520		730
6.750%, 05/15/14 ‡ (C)		165		191
5.650%, 02/01/20 ‡		133		149
SLM MTN
8.450%, 06/15/18		550		505
Societe Generale
0.844%, 11/29/49 (A)		680		390
0.844%, 11/29/49 (A)		180		103
State Street
4.300%, 05/30/14		60		66
Sumitomo Mitsui Banking
3.150%, 07/22/15		2,510		2,609
SunTrust Capital VIII
6.100%, 12/15/36 (A)		5,570		4,734
SunTrust Preferred Capital I
5.853%, 12/15/11 (A)		2,643		1,797


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Tanger Factory Outlet
6.125%, 06/01/20 ‡	$	1,370	$	1,506
Teachers Insurance & Annuity Association of America
6.850%, 12/16/39 (B)		4,870		6,097
TNK-BP Finance
6.625%, 03/20/17 (B)		510		535
Toll Road Investors Partnership II
0.000%, 02/15/45 (A)(B)		7,178		1,015
Toronto Dominion Bank
2.200%, 07/29/15		295		300
Total Capital
3.000%, 06/24/15		3,360		3,521
Toyota Motor Credit MTN
3.200%, 06/17/15		308		325
Travelers
6.250%, 03/15/37 (A)		6,250		5,995
5.900%, 06/02/19		145		168
Travelers Property Casualty
7.750%, 04/15/26		300		411
Triton Container Finance LLC, Ser 2007-1A, Cl NOTE
0.402%, 02/26/19 (A)(B)		2,813		2,598
U.S. Bancorp
2.000%, 06/14/13		300		307
UBS MTN
5.875%, 12/20/17 (C)		520		587
4.875%, 08/04/20		600		624
3.875%, 01/15/15		2,690		2,780
2.250%, 08/12/13		250		251
UDR MTN
5.000%, 01/15/12 ‡		2,000		2,040
US Bancorp MTN
2.875%, 11/20/14		415		433
Volkswagen International Finance
1.625%, 08/12/13		100		100
Wachovia
5.750%, 06/15/17 (C)		690		775
5.500%, 05/01/13 (C)		600		659
5.250%, 08/01/14		650		701
0.815%, 10/28/15 (A)		3,760		3,441
Wachovia Bank
6.600%, 01/15/38		2,070		2,346
6.000%, 11/15/17		3,650		4,119
0.867%, 03/15/16 (A)		1,200		1,096
Wachovia Capital Trust III
5.800%, 03/15/11 (A)		3,252		2,756
WEA Finance LLC
7.500%, 06/02/14 (B)		1,480		1,720
7.125%, 04/15/18 (B)(C)		4,578		5,437
6.750%, 09/02/19 (B)		136		159
Wells Fargo
5.625%, 12/11/17		350		396
5.000%, 11/15/14		1,145		1,233
3.750%, 10/01/14 (C)		1,830		1,929
Wells Fargo Capital X
5.950%, 12/15/36		1,630		1,571
Wells Fargo Capital XV
9.750%, 12/31/49 (A)		7,770		8,481
Westfield Capital
4.375%, 11/15/10 (B)		4,600		4,633


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Westfield Group
5.400%, 10/01/12 (B)	$	2,093	$	2,247
Westpac Banking
4.875%, 11/19/19 (C)		2,804		2,985
3.000%, 08/04/15		4,931		4,987
2.250%, 11/19/12		4,895		4,979
Woodbourne Capital Trust I
1.328%, 04/08/49 (A)(B)		625		269
Woodbourne Capital Trust II
1.328%, 04/08/49 (A)(B)		625		269
Woodbourne Capital Trust III
1.328%, 04/08/49 (A)(B)		625		269
ZFS Finance USA Trust I
6.150%, 12/15/65 (A)(B)		4,049		3,907
ZFS Finance USA Trust II
6.450%, 12/15/65 (A)(B)		2,700		2,484
ZFS Finance USA Trust III
1.687%, 12/15/65 (A)(B)		620		583

				881,296


Health Care — 0.6%
Abbott Laboratories
5.600%, 11/30/17		470		561
Amgen
5.750%, 03/15/40 (C)		677		795
5.700%, 02/01/19		100		120
4.500%, 03/15/20		84		94
CareFusion
4.125%, 08/01/12		1,595		1,670
Coventry Health Care
5.950%, 03/15/17		2,680		2,682
GlaxoSmithKline Capital
5.650%, 05/15/18		2,250		2,672
4.375%, 04/15/14		200		221
HCA
5.750%, 03/15/14		5,548		5,333
Hospira
6.400%, 05/15/15		20		23
5.550%, 03/30/12		200		212
Humana
7.200%, 06/15/18		2,210		2,532
Life Technologies
6.000%, 03/01/20		1,136		1,297
4.400%, 03/01/15		1,487		1,574
Medtronic
4.450%, 03/15/20 (C)		1,370		1,506
Pfizer
5.350%, 03/15/15		1,113		1,283
Pharmacia
6.500%, 12/01/18		430		540
Roche Holdings
6.000%, 03/01/19 (B)		2,310		2,801
UnitedHealth Group
6.875%, 02/15/38		505		616
WellPoint
6.375%, 06/15/37		1,668		1,879
5.875%, 06/15/17		350		403
Wyeth
5.950%, 04/01/37		3,610		4,347

				33,161


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Industrials — 1.0%
Air 2 US
8.027%, 10/01/19 (B)	$	2,242	$	2,152
Allied Waste North America
6.875%, 06/01/17		605		668
Boeing
4.875%, 02/15/20		2,760		3,146
Browning-Ferris Industries
9.250%, 05/01/21		65		83
Burlington Northern Santa Fe
7.290%, 06/01/36		200		259
4.700%, 10/01/`19 (C)		375		413
Burlington Northern Santa Fe LLC
5.750%, 05/01/40		3,016		3,389
Canadian National Railway
5.850%, 11/15/17		150		177
Continental Airlines
7.256%, 03/15/20		1,242		1,285
6.545%, 02/02/19 (C)		144		148
6.236%, 03/15/20		2,014		1,865
5.983%, 04/19/22 (C)		3,270		3,349
Continental Airlines 2000-1 Class A-1 Pass Through Trust
8.048%, 11/01/20		2,400		2,484
CSX
9.780%, 02/14/11		100		103
7.375%, 02/01/19		460		581
6.300%, 03/15/12		110		118
Delta Air Lines
6.821%, 08/10/22 (C)		2,113		2,160
6.619%, 03/18/11 (C)		197		200
Delta Air Lines, Ser 2001-1, Cl A- 2
7.111%, 09/18/11 (C)		14,850		15,518
General Electric
5.250%, 12/06/17		250		281
JetBlue Airways Private Trust, Ser 2004-2, Cl G1
0.751%, 08/15/16 (A)		5,428		4,695
Lockheed Martin
5.720%, 06/01/40 (B)		405		473
Northrop Grumman Systems
7.750%, 03/01/16		200		254
Northwest Airlines, Ser 1A-2
6.841%, 04/01/11		4,500		4,590
Ryder System
3.600%, 03/01/16		132		133
Systems 2001 Asset Trust LLC
6.664%, 09/15/13 (B)		177		191
Tyco International Finance
8.500%, 01/15/19 (C)		170		227
Tyco International Group
6.750%, 02/15/11		1,170		1,203
6.000%, 11/15/13		1,945		2,204
Union Pacific
7.000%, 02/01/16		500		609
Union Pacific Railroad 2003 Pass Through Trust
4.698%, 01/02/24		171		188
United Parcel Service
4.500%, 01/15/13 (C)		1,740		1,886


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
United Parcel Service of America
8.375%, 04/01/20	$	140	$	199
United Technologies
8.875%, 11/15/19		400		580
5.400%, 05/01/35		670		744
Waste Management
7.125%, 12/15/17		1,720		2,102
4.750%, 06/30/20		299		320

				58,977


Information Technology — 0.3%
Adobe Systems
4.750%, 02/01/20		2,085		2,244
Arrow Electronics
6.875%, 07/01/13		100		111
6.875%, 06/01/18		270		309
BAE Systems Holdings
5.200%, 08/15/15 (B)		360		396
Cisco Systems
5.900%, 02/15/39 (C)		865		1,015
5.500%, 01/15/40		2,244		2,509
4.450%, 01/15/20		3,755		4,132
Dell
5.650%, 04/15/18		415		476
Electronic Data Systems
7.450%, 10/15/29		500		677
Hewlett-Packard
2.950%, 08/15/12		80		83
International Business Machines
8.000%, 10/15/38		100		150
7.625%, 10/15/18 (C)		365		488
Intuit
5.750%, 03/15/17		255		288
National Semiconductor
6.600%, 06/15/17		300		351
Oracle
6.500%, 04/15/38		100		126
5.375%, 07/15/40 (B) (C)		1,699		1,842
5.000%, 07/08/19		450		518
Xerox
8.250%, 05/15/14		320		383

				16,098


Materials — 0.7%
Alcoa
6.000%, 07/15/13 (C)		270		292
Barrick Gold
6.950%, 04/01/19 (C)		1,760		2,210
BHP Billiton Finance USA
6.500%, 04/01/19 (C)		445		540
Codelco
4.750%, 10/15/14 (B)		900		984
Dow Chemical
8.550%, 05/15/19 (C)		5,436		6,814
5.900%, 02/15/15		1,840		2,037
4.850%, 08/15/12 (C)		3,765		3,973
Freeport-McMoRan Copper & Gold
8.375%, 04/01/17		3,005		3,336
PPG Industries
9.000%, 05/01/21		515		683
6.650%, 03/15/18		615		743
5.750%, 03/15/13		615		675


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Praxair
5.200%, 03/15/17	$	215	$	243
4.375%, 03/31/14		250		275
Rio Tinto Finance USA
9.000%, 05/01/19		2,125		2,904
8.950%, 05/01/14		265		325
6.500%, 07/15/18		5,080		6,013
5.875%, 07/15/13		2,315		2,577
Southern Copper
6.750%, 04/16/40 (C)		1,738		1,876
Stauffer Chemical
0.000%, 04/15/17 (A)(G)(H)		350		86
0.000%, 04/15/18 (A)(G)(H)		860		189
Vale Overseas
8.250%, 01/17/34		365		472
6.875%, 11/21/36		2,958		3,368
6.875%, 11/10/39		543		622
				41,237

Sovereign — 0.6%
Kommunalbanken
2.750%, 05/05/15 (B)		3,692		3,865
Province of Manitoba Canada
2.125%, 04/22/13		162		167
Province of Ontario Canada
4.400%, 04/14/20		340		380
4.100%, 06/16/14		5,355		5,891
2.950%, 02/05/15		850		899
Qatar Government International Bond
4.000%, 01/20/15 (B)		5,865		6,158
Quebec Province
6.350%, 01/30/26		270		354
3.500%, 07/29/20		4,035		4,179
Republic of Chile
3.875%, 08/05/20		3,640		3,758
Republic of Poland
3.875%, 07/16/15		1,745		1,798
Russian Federation
7.500%, 03/31/30 (I)		991		1,177
Russian Foreign Bond - Eurobond
3.625%, 04/29/15 (B)		1,800		1,789
Svensk Exportkredit
3.250%, 09/16/14		5,729		6,084
United Mexican States MTN
7.500%, 04/08/33		218		291
6.375%, 01/16/13		350		389
6.050%, 01/11/40		394		447
5.625%, 01/15/17		84		94
United Mexican States, Ser A MTN
6.750%, 09/27/34		448		559
				38,279

Telecommunication Services — 1.8%
American Tower
5.050%, 09/01/20		917		925
America Movil
6.125%, 03/30/40 (B)		478		541
5.625%, 11/15/17		1,450		1,641
5.000%, 10/16/19 (B)		2,415		2,602
5.000%, 03/30/20 (B)		740		807


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
AT&T
8.000%, 11/15/31	$	1,250	$	1,713
6.700%, 11/15/13 (C)		500		579
6.550%, 02/15/39 (C)		3,870		4,586
6.300%, 01/15/38		8,590		9,843
5.875%, 02/01/12		500		534
5.600%, 05/15/18		400		464
5.500%, 02/01/18		150		173
5.100%, 09/15/14		2,410		2,709
2.500%, 08/15/15		1,683		1,701
BellSouth
4.750%, 11/15/12 (C)		190		205
BellSouth Telecommunications
6.300%, 12/15/15		244		266
British Telecommunications (I)
9.625%, 12/15/30		1,085		1,489
9.125%, 12/15/10		1,460		1,492
5.950%, 01/15/18		1,711		1,874
Cellco Partnership
8.500%, 11/15/18 (C)		2,360		3,183
7.375%, 11/15/13		810		960
Comcast Cable Holdings LLC
10.125%, 04/15/22		190		277
COX Enterprises
7.375%, 07/15/27 (B)		170		203
Deutsche Telekom International Finance
6.000%, 07/08/19 (C)		600		706
5.750%, 03/23/16		2,175		2,496
France Telecom
8.500%, 03/01/31		170		247
7.750%, 03/01/11		1,610		1,666
Frontier Communications
8.500%, 04/15/20		1,475		1,565
8.250%, 04/15/17		1,700		1,798
Frontier Communications
8.125%, 10/01/18 (C)		1,095		1,161
GTE
8.750%, 11/01/21		600		814
6.840%, 04/15/18		800		956
New Cingular Wireless Services
8.125%, 05/01/12		1,255		1,400
News America
7.300%, 04/30/28		350		405
6.200%, 12/15/34		315		345
6.150%, 03/01/37		3,365		3,688
News America Holdings
8.875%, 04/26/23		200		276
Qwest
7.875%, 09/01/11		1,560		1,648
7.500%, 10/01/14		2,230		2,484
Reed Elsevier Capital
8.625%, 01/15/19		2,310		3,038
Rogers Communications
6.375%, 03/01/14		4,340		4,963
5.500%, 03/15/14		590		658
Royal
8.000%, 10/01/10 (C)		5,100		5,130
Sprint Capital
8.750%, 03/15/32		390		376
8.375%, 03/15/12		5,300		5,631
6.900%, 05/01/19		120		113


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
TCI Communications
8.750%, 08/01/15	$	701	$	882
7.125%, 02/15/28		400		468
Telecom Italia Capital
6.999%, 06/04/18		2,740		3,100
5.250%, 11/15/13		580		617
5.250%, 10/01/15		370		394
4.950%, 09/30/14 (C)		1,320		1,387
Telefonica Emisiones
5.984%, 06/20/11		2,320		2,407
5.877%, 07/15/19		115		130
Telefonica Emisiones SAU
6.221%, 07/03/17 (C)		190		216
5.134%, 04/27/20		6,010		6,476
2.582%, 04/26/13		680		689
Verizon Communications
8.750%, 11/01/18		194		261
6.400%, 02/15/38		1,755		2,061
6.100%, 04/15/18		630		742
5.850%, 09/15/35		150		164
5.500%, 02/15/18		2,810		3,212
Verizon Global Funding
7.750%, 12/01/30 (C)		3,690		4,812
7.375%, 09/01/12		1,730		1,942
6.875%, 06/15/12		465		512
Verizon Maryland
7.150%, 05/01/23		600		638
Vodafone Group
5.450%, 06/10/19 (C)		226		257
				111,698

Utilities — 2.0%
AGL Capital
5.250%, 08/15/19		170		182
4.450%, 04/15/13		400		423
Alabama Power Company
5.875%, 12/01/22		275		333
Appalachian Power
5.950%, 05/15/33		200		216
Arizona Public Services
8.000%, 12/30/15		521		561
Atmos Energy
4.950%, 10/15/14		260		286
Carolina Power & Light
5.300%, 01/15/19		400		467
Cedar Brakes II LLC
9.875%, 09/01/13 (B)		3,188		3,336
CenterPoint Energy Houston Electric LLC
7.000%, 03/01/14 (C)		150		178
Cleveland Electric Illuminating
7.880%, 11/01/17		310		390
Consumers Energy
6.700%, 09/15/19		400		495
Dominion Resources
8.875%, 01/15/19		4,730		6,445
6.400%, 06/15/18		300		370
5.700%, 09/17/12		3,560		3,879
4.750%, 12/15/10		740		749
DPL
6.875%, 09/01/11		3,220		3,391


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Duke Energy
6.300%, 02/01/14	$	2,890	$	3,308
5.625%, 11/30/12		425		466
4.300%, 06/15/20		195		216
3.750%, 07/15/20		180		189
Enel Finance International
6.000%, 10/07/39 (B)		4,855		4,898
5.125%, 10/07/19 (B)		500		516
3.875%, 10/07/14 (B)		2,700		2,795
Exelon
5.625%, 06/15/35		2,605		2,690
Exelon Generation LLC
6.250%, 10/01/39		1,535		1,717
5.200%, 10/01/19		125		139
FirstEnergy Solutions
6.800%, 08/15/39		1,300		1,336
6.050%, 08/15/21		2,315		2,452
FirstEnergy, Ser B
6.450%, 11/15/11		14		15
FirstEnergy, Ser C
7.375%, 11/15/31		5,315		5,888
Hydro Quebec, Ser JL
6.300%, 05/11/11		1,050		1,093
Indiana Michigan Power
7.000%, 03/15/19 (C)		170		209
Jersey Central Power & Light
7.350%, 02/01/19		500		624
KCP&L Greater Missouri Operations
11.875%, 07/01/12		3,360		3,864
8.270%, 11/15/21		2,894		3,403
Massachusetts Electric
5.900%, 11/15/39 (B)		210		245
MidAmerican Energy
5.300%, 03/15/18		750		867
Midamerican Energy Holdings
6.500%, 09/15/37		4,465		5,425
Nevada Power
8.250%, 06/01/11		4,765		5,015
7.125%, 03/15/19 (C)		400		494
Niagara Mohawk Power
4.881%, 08/15/19 (B)		180		199
Nisource Finance
10.750%, 03/15/16		720		943
6.800%, 01/15/19		3,547		4,179
6.125%, 03/01/22		2,400		2,678
Northern States Power
6.250%, 06/01/36		350		437
5.350%, 11/01/39		56		63
Oncor Electric Delivery
6.800%, 09/01/18 (C)		4,535		5,508
Pacific Gas & Electric
8.250%, 10/15/18 (C)		1,320		1,742
6.050%, 03/01/34		1,615		1,901
5.800%, 03/01/37		840		967
5.400%, 01/15/40		156		172
PacifiCorp
6.250%, 10/15/37		1,655		2,050
5.650%, 07/15/18		100		119
5.500%, 01/15/19		400		471


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Progress Energy
6.850%, 04/15/12	$	1,460	$	1,583
6.000%, 12/01/39 (C)		200		229
PSEG Power LLC
5.500%, 12/01/15 (C)		445		501
5.320%, 09/15/16 (B)		126		140
5.125%, 04/15/20		120		130
PSEG Transition Funding
6.610%, 06/15/15		710		784
Public Service Electric & Gas MTN
5.375%, 11/01/39		97		110
2.700%, 05/01/15		135		140
Public Service of New Mexico
7.950%, 05/15/18		3,000		3,292
Public Service of Oklahoma
5.150%, 12/01/19		170		188
Sempra Energy
8.900%, 11/15/13		400		480
6.500%, 06/01/16		135		160
6.000%, 10/15/39 (C)		170		195
Southern
4.150%, 05/15/14		85		92
Southern California Edison
5.500%, 03/15/40 (C)		170		195
4.650%, 04/01/15		200		225
4.500%, 09/01/40		2,650		2,652
Southern Union
8.250%, 11/15/29		7,370		8,695
Southwestern Public Service
8.750%, 12/01/18		300		395
Tennessee Valley Authority
5.250%, 09/15/39		1,828		2,168
Texas-New Mexico Power
9.500%, 04/01/19 (B)		875		1,159
TXU
6.500%, 11/15/24		410		160
TXU, Ser P
5.550%, 11/15/14		370		186
TXU, Ser R
6.550%, 11/15/34		4,385		1,688
Virginia Electric and Power
5.400%, 04/30/18 (C)		300		349
				116,890
Total Corporate Obligations (Cost $1,575,315) ($ Thousands)				1,617,575

U.S. TREASURY OBLIGATIONS — 20.4%
U.S. Treasury Bills
0.170%, 02/10/11 (E)		205		205
U.S. Treasury Bonds
9.250%, 02/15/16		750		933
9.000%, 11/15/18		900		1,373
8.875%, 08/15/17		26,200		38,195
8.875%, 02/15/19		7,600		11,541
8.750%, 05/15/17		21,675		31,175
8.750%, 08/15/20		6,550		10,170
8.500%, 02/15/20 (C)		5,159		5,678
8.500%, 02/15/20		1,000		1,517
8.000%, 11/15/21		11,355		17,219
7.625%, 02/15/25		8,650		13,421
7.500%, 11/15/16 (C)		20,700		27,738


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
7.125%, 02/15/23 (C)	$	11,185	$	16,243
6.750%, 08/15/26		329		368
6.500%, 11/15/26		100		144
6.375%, 08/15/27		650		538
6.250%, 08/15/23		5,645		7,710
6.125%, 11/15/27		750		625
6.000%, 02/15/26		100		137
5.500%, 08/15/28		200		264
5.375%, 02/15/31		11,263		14,774
4.845%, 05/15/26 (E)		500		295
4.805%, 05/15/28 (E)		100		54
4.779%, 11/15/31 (E)		200		92
4.726%, 08/15/25 (E)		400		244
4.698%, 02/15/27 (E)		200		114
4.625%, 02/15/17 (C)		30,500		35,768
4.625%, 02/15/40 (C)		21,678		26,007
4.375%, 11/15/39		12,927		14,894
4.375%, 05/15/40 (C)		28,919		33,365
4.250%, 05/15/39		13,855		15,650
3.966%, 08/15/19 (E)		2,325		1,849
3.875%, 08/15/40 (C)		12,780		13,585
3.500%, 02/15/39		4,000		3,977
3.250%, 12/31/16		3,720		4,046
3.125%, 01/31/17 (C)		16,780		18,121
2.625%, 12/31/14		6,500		6,903
1.970%, 01/15/16 (E)		7,570		6,814
				381,541
U.S. Treasury Inflation-Protected Securities
6.450%, 02/15/17 (E)		19,420		17,146
5.294%, 02/15/21 (E)		200		149
4.641%, 05/15/36 (E)		300		113
4.619%, 02/15/24 (E)		75		49
4.584%, 05/15/29 (E)		100		51
4.562%, 08/15/24 (E)		200		127
4.520%, 05/15/24 (E)		800		513
4.363%, 11/15/20 (E)		1,000		750
4.277%, 05/15/20 (E)		2,900		2,228
4.256%, 11/15/24 (E)		450		282
4.173%, 02/15/22 (E)		300		213
3.970%, 05/15/19 (E)		2,450		1,976
3.957%, 02/15/32 (E)		450		204
3.875%, 04/15/29		430		790
3.819%, 08/15/17 (E)		4,000		3,475
3.664%, 08/15/18 (E)		800		673
3.540%, 05/15/30 (E)		9,150		4,584
3.658%, 11/15/17 (E)		6,150		5,287
3.625%, 04/15/28		8,180		14,736
3.546%, 02/15/18 (E)		1,350		1,156
3.400%, 11/15/27 (E)		31,090		17,403
3.369%, 08/15/20 (E)		9,550		7,238
3.250%, 02/15/25 (E)		21,110		13,237
3.207%, 08/15/16 (E)		5,100		4,582
2.928%, 08/15/21		500		362
2.896%, 02/15/14 (E)		8,550		8,286
2.752%, 05/15/14 (E)		2,150		2,074
2.714%, 02/15/15 (E)		200		189
2.375%, 01/15/25		17,230		22,839
2.375%, 01/15/27		300		372
2.192%, 02/15/13 (E)		1,000		986
2.125%, 02/15/40		11,805		13,374


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
2.114%, 11/15/16 (E)	$	410	$	365
2.000%, 01/15/16		11,126		13,263
1.750%, 01/15/28		25		27
				159,099
U.S. Treasury Notes
4.750%, 08/15/17		1,700		2,018
4.500%, 11/30/11		1,000		1,052
4.500%, 05/15/17		6,648		7,760
3.750%, 11/15/18		5,400		6,047
3.500%, 05/15/20 (C)		5,150		5,611
3.125%, 10/31/16		4,400		4,759
3.125%, 04/30/17		2,670		2,883
2.750%, 11/30/16		1,030		1,090
2.750%, 05/31/17 (C)		17,440		18,410
2.750%, 02/15/19		1,883		1,957
2.625%, 07/31/14		2,800		2,974
2.625%, 08/15/20 (C)		36,192		36,656
2.500%, 06/30/17 (C)		18,100		18,813
2.375%, 10/31/14		1,000		1,052
2.375%, 03/31/16		2,000		2,088
2.375%, 07/31/17 (C)		20,050		20,664
2.125%, 11/30/14		22,480		23,413
2.125%, 05/31/15		86,219		89,648
1.875%, 02/28/14		1,000		1,034
1.875%, 06/30/15 (C)		11,598		11,917
1.750%, 07/31/15 (C)		129,320		132,028
1.375%, 11/15/12		1,080		1,100
1.375%, 02/15/13		40,865		41,631
1.375%, 05/15/13		850		866
1.250%, 08/31/15		42,770		42,583
1.000%, 08/31/11		10,495		10,568
1.000%, 04/30/12		113,605		114,648
0.875%, 04/30/11		21,135		21,224
0.750%, 08/15/13		20,142		20,167
0.625%, 06/30/12		8,330		8,354
				653,015
Total U.S. Treasury Obligations (Cost $1,134,683) ($ Thousands)				1,193,860

ASSET-BACKED SECURITIES — 5.0%

Automotive — 0.4%
Ally Auto Receivables Trust, Ser 2009-1, Cl A3
2.330%, 06/17/13 (B)		500		511
Ally Auto Receivables Trust,
Ser 2010-1, Cl A3
1.450%, 05/15/14		285		288
Ally Auto Receivables Trust,
Ser 2010-3, Cl A4
1.550%, 08/17/15		357		358
Ally Auto Receivables Trust,
Ser 2010-3, Cl A3
1.550%, 10/15/14		920		922
Ally Master Owner Trust, Ser 2010-4, Cl A
0.277%, 08/15/17		6,990		6,990
AmeriCredit Automobile Receivables Trust, Ser 2010-1, Cl A3
1.770%, 03/17/14		115		116


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
AmeriCredit Automobile Receivables Trust, Ser 2010-1, Cl A2
0.980%, 01/15/13	$	165	$	165
Avis Budget Rental Car Funding AESOP LLC, Ser 2010-3A, Cl A
4.640%, 05/20/16 (B)		1,490		1,582
Bank of America Auto Trust, Ser 2009-14, Cl A3
2.670%, 07/15/13 (B)		600		609
Bank of America Auto Trust, Ser 2009-1A, Cl A4
3.520%, 06/15/16 (B)		200		210
Bank of America Auto Trust, Ser 2009-2A, Cl A3
2.130%, 09/15/13 (B)		650		658
Bank of America Auto Trust, Ser 2009-3A, Cl A3
1.670%, 12/15/13 (B)		350		354
Bank of America Auto Trust, Ser 2010-1A, Cl A3
1.390%, 03/15/14 (B)		430		434
Bank of America Auto Trust, Ser 2010-1A, Cl A4
2.180%, 02/15/17 (B)		310		318
Bank of America Auto Trust, Ser 2010-2, Cl A3
1.310%, 07/15/14		150		151
CarMax Auto Owner Trust, Ser 2010-1, Cl A3
1.560%, 07/15/14		300		303
Chrysler Financial Auto Securitization Trust, Ser 2009- A, Cl A3
2.820%, 01/15/16		250		255
CitiFinancial Auto Issuance Trust, Ser 2009-1, Cl A3
2.590%, 10/15/13 (B)		695		707
Ford Credit Auto Owner Trust, Ser 2009-B, Cl A4
4.942%, 07/15/14		300		324
Ford Credit Auto Owner Trust, Ser 2009-B, Cl A3
3.089%, 08/15/13		350		357
Harley-Davidson Motorcycle Trust, Ser 2006-3, Cl A4
5.220%, 06/15/13		701		718
Harley-Davidson Motorcycle Trust, Ser 2009-1, Cl A4
4.550%, 01/15/17		1,211		1,284
Harley-Davidson Motorcycle Trust, Ser 2009-2, Cl A4
3.320%, 02/15/17		278		289
Harley-Davidson Motorcycle Trust, Ser 2009-3, Cl A4
2.540%, 04/15/17		209		213
Harley-Davidson Motorcycle Trust, Ser 2009-4, Cl A4
2.400%, 07/15/14		592		601
Hertz Vehicle Financing LLC, Ser 2009-2A, Cl A2
5.290%, 03/25/16 (B)		2,910		3,205


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Honda Auto Receivables Owner Trust, Ser 2009-3, Cl A4
3.300%, 09/15/15	$	250	$	261
Honda Auto Receivables Owner Trust, Ser 2009-S1, Cl A3
2.310%, 05/15/13		2,480		2,520
Hyundai Auto Receivables Trust, Ser 2010-B, Cl A4
1.630%, 03/15/17		375		375
Hyundai Auto Receivables Trust, Ser 2010-B, Cl A3
0.970%, 04/15/15		340		340
USAA Auto Owner Trust, Ser 2009-2, Cl A4
2.530%, 07/15/15		365		378
USAA Auto Owner Trust, Ser 2009-2, Cl A3
1.540%, 02/18/14		470		474
2.210%, 05/15/15		550		564
				26,834

Credit Card — 0.1%
American Express Credit, Ser 2007-8, Cl A
0.576%, 05/15/15		1,282		1,284
MBNA Master Credit Card Trust, Ser 2001-B, Cl A
0.536%, 08/15/13		1,004		1,004
MBNA Master Credit Card Trust, Ser 2002-A3, Cl A3
0.516%, 09/15/14		1,079		1,079
				3,367

Credit Cards — 0.9%
American Express Credit Account Master Trust, Ser 2009-2, Cl A
1.529%, 03/15/17 (A)		2,201		2,287
Capital One Multi-Asset Execution Trust, Ser 2005-A1, Cl A1
0.346%, 01/15/15		2,517		2,506
Capital One Multi-Asset Execution Trust, Ser 2005-A10, Cl A
0.356%, 09/15/15 (A)		1,567		1,556
Capital One Multi-Asset Execution Trust, Ser 2006-A12, Cl A
0.336%, 07/15/16		4,392		4,340
Capital One Multi-Asset Execution Trust, Ser 2006-A5, Cl A5
0.401%, 01/15/16 (A)		1,751		1,736
Capital One Multi-Asset Execution Trust, Ser 2007-A4, Cl A4
0.306%, 03/16/15 (A)		2,628		2,613
Chase Issuance Trust, Ser 2007- A17, Cl A
5.120%, 10/15/14		6,980		7,605
Citibank Credit Card Issuance Trust, Ser 2006-A3, Cl A3
5.300%, 03/15/18		654		762
Citibank Credit Card Issuance Trust, Ser 2009-A5, Cl A5
2.250%, 12/23/14		5,310		5,458


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Discover Card Master Trust, Ser 2007-A2, Cl A2
0.877%, 06/15/15 (A)	$	6,165	$	6,160
Discover Card Master Trust, Ser 2009-A1, Cl A1
1.576%, 12/15/14 (A)		2,249		2,289
Discover Card Master Trust, Ser 2009-A2, Cl A2
1.576%, 02/17/15 (A)		16,626		16,930
				54,242

Mortgage Related Securities — 0.7%
ABFS Mortgage Loan Trust, Ser 2002-3, Cl A
4.763%, 09/15/33		8		8
ABS Home Equity, Ser 2001-HE3, Cl A1
0.816%, 11/15/31 (A)		225		198
ACE Securities, Ser 2006-SL3, Cl A1
0.364%, 06/25/36 (A)		6,483		1,045
AFC Home Equity Loan Trust, Ser 2000-1, Cl 2A
0.504%, 03/25/30 (A)		2,405		757
Citigroup Mortgage Loan Trust, Ser 2007-AHL1, Cl A2A
0.304%, 12/25/36 (A)		492		461
Citigroup Mortgage Loan Trust, Ser 2010-7, Cl 10A1
2.866%, 02/25/35		500		497
Conseco Finance Home Loan Trust, Ser 2001-D, Cl A5
6.190%, 11/15/32 (A)		4,252		4,336
Contimortgage Home Equity Trust, Ser 1997-2, Cl A9
7.090%, 04/15/28		5		5
Delta Funding Home Equity Loan Trust, Ser 1999-3, Cl A1A
1.096%, 09/15/29 (A)		310		160
EMC Mortgage Loan Trust, Ser 2002-AA, Cl A1
0.734%, 05/25/39 (A) (B) 913		708
GSAA Trust, Ser 2005-6, Cl A3
0.634%, 06/25/35 (A)		4,100		2,507
HFC Home Equity Loan Asset Backed Certificates, Ser 2006- 2, Cl A1
0.416%, 03/20/36 (A)		405		378
Home Equity Asset Trust, Ser 2007-2, Cl 2A1
0.374%, 07/25/37 (A)		2,504		2,426
HSBC Home Equity Loan Trust, Ser 2005-2, Cl M2
0.756%, 01/20/35 (A)		562		499
HSBC Home Equity Loan Trust, Ser 2005-2, Cl A1
0.536%, 01/20/35 (A)		5,012		4,433
HSBC Home Equity Loan Trust, Ser 2006-1, Cl A1
0.426%, 01/20/36 (A)		598		542


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
HSBC Home Equity Loan Trust, Ser 2007-1, Cl A2F
5.600%, 03/20/36	$	750	$	776
HSBC Home Equity Loan Trust, Ser 2007-1, Cl AS
0.466%, 03/20/36 (A)		319		296
HSBC Home Equity Loan Trust, Ser 2007-3, Cl APT
1.466%, 11/20/36 (A)		931		832
Indymac Home Equity Loan Asset-Backed Trust, Ser 2001- A, Cl AV
0.524%, 03/25/31 (A)		37		24
JPMorgan, Ser 2010-4, Cl 7A1
4.337%, 08/26/35		728		730
Morgan Stanley ABS Capital I, Ser 2004-WMC3, Cl M1
1.014%, 01/25/35 (A)		267		262
Morgan Stanley Home Equity Loans, Ser 2007-1, Cl A1
0.314%, 12/25/36 (A)		208		202
Morgan Stanley Mortgage Loan Trust, Ser 2007-3XS, Cl 2A3S
5.858%, 01/25/47		31		20
MSDWCC Heloc Trust, Ser 2003- 1, Cl A
0.804%, 11/25/15 (A)		71		57
Option One Mortgage Loan Trust, Ser 2001-4, Cl A
0.864%, 01/25/32 (A)		221		188
Option One Mortgage Loan Trust, Ser 2007-14, Cl 2A3
0.404%, 01/25/37 (A)		17,000		6,362
Option One Mortgage Loan Trust, Ser 2007-5, Cl 2A4
0.564%, 05/25/37 (A)		10,000		3,689
Renaissance Home Equity Loan Trust, Ser 2005-2, Cl AF3R
4.499%, 08/25/35		1,142		1,105
Residential Funding Mortgage Securities II, Ser 2000-HI1, Cl AI7
8.790%, 02/25/25		837		783
Salomon Brothers Mortgage Securities VII, Ser 2003-UP1, Cl A
3.450%, 04/25/32 (B)		340		292
Security National Mortgage Loan Trust, Ser 2007-1A, Cl 2A
0.614%, 04/25/37 (A)(G)(H)		943		494
Structured Asset Securities, Ser 2002-AL1, Cl A2
3.450%, 02/25/32		361		344
Structured Asset Investment Loans, Ser 2005-5, Cl A9
0.534%, 06/25/35 (A)		300		272
4.690%, 02/25/35		934		946
Terwin Mortgage Trust, Ser 2005- 9HGS, Cl A1
4.000%, 08/25/35 (A)(B)		408		388


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Triton Container Finance LLC, Ser 2006-1A, Cl NOTE
0.432%, 11/26/21 (A)(B)	$	4,281	$	3,846
UCFC Home Equity Loan, Ser 1998-D, Cl MF1
6.905%, 04/15/30		36		34

				40,902


Other Asset-Backed Securities — 2.9%
AH Mortgage, Ser 2010-ADV1, Cl A1
3.968%, 08/15/22		765		765
Aircastle Aircraft Lease Backed Trust, Ser 2007-1A, Cl G1
0.555%, 06/14/37 (A)(B)		4,466		3,685
Amortizing Residential Collateral Trust CMO, Ser 2002-BC1, Cl A
0.944%, 01/25/32 (A)		422		324
Babcock & Brown Air Funding I, Ser 2007-1A, Cl G1
0.576%, 10/14/33 (A)(B)		5,724		4,608
CenterPoint Energy Transition Bond LLC, Ser 2008-A, Cl A1
4.192%, 02/01/20		1,573		1,722
Chase Funding Mortgage Loan Asset-Backed Certificates, Ser 2002-1, Cl 2A2
0.764%, 03/25/32 (A)		929		610
Chase Funding Mortgage Loan Asset-Backed Certificates, Ser 2003-6, Cl 1A5
5.350%, 11/25/34		500		470
Chase Funding Mortgage Loan Asset-Backed Certificates, Ser 2003-6, Cl 1A7
4.277%, 11/25/34		1,060		1,002
Chase Funding Mortgage Loan Asset-Backed Certificates, Ser 2003-6, Cl 1A4
4.499%, 11/25/34		597		584
Citicorp Residential Mortgage Securities, Ser 2006-2, Cl A5
6.036%, 09/25/36		6,340		5,437
Citigroup Mortgage Loan Trust, Ser 2007-SHL1, Cl A
0.664%, 11/25/46 (A) (B)		1,148		539
CNH Equipment Trust, Ser 2009- B, Cl A3
2.970%, 03/15/13		91		92
CNH Equipment Trust, Ser 2009- C, Cl A3
1.850%, 12/16/13		130		132
CNH Equipment Trust, Ser 2010- A, Cl A3
1.540%, 07/15/14		725		733
Conseco Finance Home Loan Trust, Ser 2000-E, Cl M1
8.130%, 08/15/31 (A)		1,724		1,700
Consumer Funding LLC, Ser 2001-1, Cl A5
5.430%, 04/20/15		1,130		1,204


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Countrywide Asset-Backed Certificates, Cl A
0.924%, 04/25/32 (A)	$	62	$	35
Countrywide Asset-Backed Certificates, Cl A1
0.594%, 07/25/36 (A)(B)		450		250
Countrywide Asset-Backed Certificates, Ser 2001-BC3, Cl A
0.744%, 12/25/31 (A)		48		25
Countrywide Asset-Backed Certificates, Ser 2003-BC2, Cl 2A1
0.864%, 06/25/33 (A)		115		107
Countrywide Asset-Backed Certificates, Ser 2005-17, Cl 1AF3
5.711%, 05/25/36 (A)		10,000		4,121
Countrywide Asset-Backed Certificates, Ser 2005-6, Cl M1
0.754%, 12/25/35 (A)		320		298
Countrywide Asset-Backed Certificates, Ser 2006-15, Cl A3
5.689%, 10/25/46 (A)		208		151
Countrywide Asset-Backed Certificates, Ser 2007-7, Cl 2A2
0.424%, 10/25/47 (A)		7,500		6,093
Countrywide Asset-Backed Certificates, Ser 2007-QH1, Cl A1
0.464%, 02/25/37 (A)(B)		1,202		895
Countrywide Asset-Backed Certificates, Ser 2007-SD1, Cl A1
0.714%, 03/25/47 (A)(B)		918		428
Countrywide Home Equity Loan Trust, Ser 2004-K, Cl 2A
0.576%, 02/15/34 (A)		849		400
Countrywide Home Equity Loan Trust, Ser 2005-F, Cl 2A
0.516%, 12/15/35 (A)		2,000		610
Credit-Based Asset Servicing and Securitization LLC, Ser 2006- CB2, Cl AF4
5.704%, 12/25/36		1,561		1,247
Credit-Based Asset Servicing and Securitization LLC, Ser 2006- CB2, Cl AF2
5.501%, 12/25/36		715		502
Credit-Based Asset Servicing and Securitization LLC, Ser 2007- CB4, Cl A1A
0.354%, 04/25/37 (A)		3,825		3,143
Credit-Based Asset Servicing and Securitization LLC, Ser 2007- RP1, Cl A
0.574%, 05/25/46 (A)(B)		12,499		7,249
Diamond Investment Grade CDO, Ser 1X, Cl A1
0.853%, 10/11/14 (G)		2,040		1,938
EFS Volunteer, Ser 2010-1, Cl A2
1.389%, 10/25/35 (A)(B)		1,500		1,475


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Embarcadero Aircraft Securitization Trust, Ser 2000- A, Cl A1
0.756%, 08/15/25 (A)(B)	$	2,690	$	1,332
Equity One, Ser 2003-2, Cl M1
5.050%, 09/25/33 (A)		516		420
Fieldstone Mortgage Investment, Ser 2007-A, Cl 2A2
0.534%, 04/25/47 (A)		2,000		811
First Horizon Asset Back Trust, Ser 2004-HE2, Cl A
0.484%, 02/25/34 (A)		959		574
First Horizon Asset Back Trust, Ser 2006-HE2, Cl A
0.394%, 10/25/26 (A)		608		434
GE Seaco Finance Srl, Ser 2005- 1A, Cl A
0.522%, 11/17/20 (A)(B)		6,484		6,111
Genesis Funding, Ser 2006-1A, Cl G1
0.507%, 12/19/32		4,807		4,050
Green Tree Financial, Ser 1996-5, Cl A6
7.750%, 07/15/27		421		433
GSAMP Trust, Ser 2003-SEA, Cl A1
0.664%, 02/25/33 (A)		1,828		1,363
GSAMP Trust, Ser 2006-SD2, Cl A1
0.374%, 05/25/46 (A)(B)		1,885		1,836
John Deere Owner Trust, Ser 2009-A, Cl A3
2.590%, 10/15/13		225		228
John Deere Owner Trust, Ser 2009-B, Cl A3
1.570%, 10/15/13		535		540
JPMorgan Mortgage Acquisition, Ser 2007-CH1, Cl AF6
5.501%, 11/25/36		9,367		7,775
Keycorp Student Loan Trust, Ser 2003-A, Cl 1A2
0.758%, 10/25/32		2,624		2,346
Lehman XS Trust, Ser 2005-5N, Cl 1A1
0.564%, 11/25/35 (A)		4,107		2,856
Lehman XS Trust, Ser 2005-7N, Cl 1A1B
0.564%, 12/25/35 (A)		3,210		1,009
Lehman XS Trust, Ser 2006-GP1, Cl A4A
0.594%, 05/25/46 (A)		7,996		2,716
Lone Star CDO Funding, Ser IX, Cl A (G)
1.226%, 12/15/12		2,403		2,343
Merit Securities, Ser 2003-13, Cl A4
7.946%, 12/28/33 (A)		3,138		3,198
Merrill Lynch Mortgage Investors, Ser 2006-WMC2, Cl A2D
5.895%, 03/25/37		5,491		2,490


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
Mid-State Trust, Ser 2003-11, Cl A1
4.864%, 07/15/38	$	2,691	$	2,564
Mid-State Trust, Ser 2006-1, Cl A
5.787%, 10/15/40 (B)		6,491		6,304
MSCC Heloc Trust, Ser 2005-1, Cl A
0.454%, 07/25/17 (A)		472		286
Nelnet Student Loan Trust, Ser 2008-3, Cl A4
1.967%, 11/25/24 (A)		8,407		8,722
Nelnet Student Loan Trust, Ser 2008-4, Cl A4
1.978%, 04/25/24 (A)		4,540		4,681
Origen Manufactured Housing, Ser 2002-A, Cl A1
0.516%, 05/15/32 (A)		32		29
Park Place Securities, Ser 2004- MHQ1, Cl M1
0.964%, 12/25/34 (A)		6,744		6,607
Popular ABS Mortgage Pass- Through Trust, Ser 2007-A, Cl A3
0.574%, 06/25/47 (A)		10,380		4,737
RAAC Series, Ser 2007-RP4, Cl A
0.614%, 11/25/46 (A) (B)		14,088		7,522
RAAC Series, Ser 2007-SP3, Cl A1
1.464%, 09/25/47 (A)		374		286
SLC Student Loan Trust, Ser 2008-1, Cl A4A
2.137%, 12/15/32(A)		14,322		14,883
SLM Student Loan Trust, Ser 2003-11, Cl A6
0.827%, 12/15/25		1,900		1,886
SLM Student Loan Trust, Ser 2006-5, Cl A5
0.608%, 01/25/27 (A)		2,830		2,671
SLM Student Loan Trust, Ser 2008-5, Cl A4
2.198%, 07/25/23 (A)		4,574		4,774
SLM Student Loan Trust, Ser 2008-8, Cl A4
2.148%, 07/25/22 (A)		1,784		1,866
Textainer Marine Containers, Ser 2005-1A, Cl A
0.526%, 05/15/20 (A) (B)		3,278		3,036
Wells Fargo Home Equity Trust, Ser 2007-2, Cl A1
0.354%, 04/25/37 (A)		3,168		3,073
				169,366
Total Asset-Backed Securities (Cost $330,610) ($ Thousands)				294,711

U.S. GOVERNMENT AGENCY OBLIGATIONS — 2.6%
FHLB
1.500%, 01/16/13		2,010		2,044
FHLMC
6.000%, 09/15/40		10,516		11,548
5.625%, 11/23/35		1,620		1,846
5.500%, 07/18/16		32,131		35,145


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
5.000%, 07/15/14	$	5,000	$	5,699
3.500%, 11/20/40		3,048		3,178
3.000%, 10/20/40		1,741		1,800
0.210%, 10/13/10 (A)		460		460
0.120%, 10/19/10 (A)		2,340		2,340

FICO STRIPS, PO (E)
9.800%, 04/06/18		960		1,437
9.700%, 04/05/19		5,100		7,749
8.600%, 09/26/19		5,655		8,175
4.638%, 09/26/19		180		135
3.630%, 09/26/19		1,655		1,245
3.540%, 06/06/19		470		360
3.470%, 03/07/19		1,450		1,127
3.280%, 11/02/18		3,410		2,715
3.170%, 08/03/18		9,280		7,500
3.090%, 02/08/18		7,500		6,148

FNMA
7.250%, 05/15/30		7,303		10,747
7.125%, 01/15/30		4,090		5,942
6.500%, 09/01/37		1,775		1,934
6.250%, 05/15/29		6,315		8,347
5.600%, 10/09/19 (A)		670		442
5.375%, 06/12/17		250		300
5.250%, 08/01/12		2,800		3,030
5.000%, 02/13/17		5,000		5,861
1.250%, 06/22/12		5,500		5,563
0.625%, 09/24/12		4,600		4,594
Total U.S. Government Agency Obligations (Cost $140,357) ($ Thousands)				147,411

MUNICIPAL BONDS — 0.3%
Build America Bonds, GO
7.350%, 07/01/35		3,300		3,558
County of Clark Nevada, RB
6.820%, 07/01/45		2,120		2,387
Los Angeles Unified School District, GO
6.758%, 07/01/34		1,075		1,220
Los Angeles, California Community College District, GO
6.750%, 08/01/49		2,700		3,052
Louisiana Public Facilities Authority, RB
4.500%, 02/01/14		500		509
North Texas Tollway Authority, RB
6.718%, 01/01/49		1,970		2,154
State of California, Build America Project, GO
7.300%, 10/01/39		3,620		3,984
State of California, GO
6.650%, 03/01/22		1,700		1,889
State of Illinois, GO
5.100%, 06/01/33		270		229
Total Municipal Bonds (Cost $17,442) ($ Thousands)				18,982


Description	Shares/ Contracts			Market Value ($ Thousands)

CASH EQUIVALENT — 6.6%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200% **†		388,109,372		$	388,109
Total Cash Equivalent (Cost $388,109) ($ Thousands)					388,109

AFFILIATED PARTNERSHIP — 6.4%
SEI Liquidity Fund, L.P., 0.250% **†(F)		384,918,157			375,864
Total Affiliated Partnership (Cost $384,918) ($ Thousands)					375,864
Total Investments — 117.6% †† (Cost $6,796,743)($ Thousands)				$	6,890,020

WRITTEN OPTIONS — 0.0%
September 2010 90 Day EURO$ Future Call, Expires 09/27/10, Strike Price $127.00*		(302	)	$	(127	)
September 2010 90Day EURO$ Future Put, Expires 09/27/10, Strike Price $99.00*		(302)			(61)
Total Written Options (Premiums Received $210) ($ Thousands)					(188)

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)			Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
90-Day Euro$		(26	)		Dec-2010	$	(277	)
90-Day Euro$		260			Dec-2011		35
90-Day Euro$		(260	)		Dec-2012		(96	)
90-Day Euro$		(26	)		Jun-2011		(275	)
90-Day Euro$		(26	)		Mar-2011		(276	)
90-Day Euro$		(66	)		Sep-2010		(293	)
U.S. 10-Year Treasury Note		(534	)		Dec-2010		(156	)
U.S. 10-Year Treasury Note		(58	)		Sep-2010		(319	)
U.S. 2-Year Treasury Note		46			Dec-2010		(1	)
U.S. 2-Year Treasury Note		(94	)		Dec-2010		7
U.S. 5-Year Treasury Note		269			Dec-2010		120
U.S. 5-Year Treasury Note		(102	)		Dec-2010		(20	)
U.S. Long Treasury Bond		187			Dec-2010		247
U.S. Long Treasury Bond		(449	)		Dec-2010		(1,086	)
U.S. Ultra Long Treasury Bond		254			Jan-2011		621
U.S. Ultra Long Treasury Bond		10			Oct-2010		151
						$	(1,618	)

A summary of the outstanding forward foreign currency contracts held by the Fund at August 31, 2010, is as follows:


Maturity Date	Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) ($ Thousands)
11/24/10		EUR	3,755		USD	4,972	$	201
11/24/10		USD	4,555		EUR	3,466		(151	)
							$	50


Counterparty	Currency to Deliver ($ Thousands)		Currency to Receive ($ Thousands)		Unrealized Appreciation (Depreciation) ($ Thousands)
UBS PaineWebber	$	4,771	$	4,972	$	201
Citigroup Global
Markets		4,555		4,404		(151	)
					$	50

A summary of outstanding swap agreements held by the Fund at August 31, 2010, is as follows:

Percentages are based on a Net Assets of $5,857,359 ($ Thousands)

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

‡

Real Estate Investment Trust.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $6,796,743 ($Thousands), and the unrealized appreciation and depreciation were $324,354 ($Thousands) and $(231,077) ($Thousands), respectively.

(A)

Variable Rate Security—The rate reported is the rate in effect as of August 31, 2010. The date reported is the final maturity date.

(B)

(C)

This security or a partial position of this security is on loan at August 31, 2010. The total value of securities on loan at August 31, 2010 was $369,606 ($ Thousands).

(D)

Security in default on interest payments.

(E)

Zero coupon security. The rate reported is the effective yield at time of purchase.

(F)

This security was purchased with cash collateral held from securities on loan. The total value of this security as of August 31, 2010 was $375,864 ($ Thousands).

(G)

Security fair valued using methods determined in good faith by the Valuation Committee of the Board of Trustees. The total value of such securities as of August 31, 2010 was $9,200 ($ Thousands) and represented 0.16% of net assets.

(H)

Securities considered illiquid. The total value of such securities as of August 31, 2010 was $769 ($ Thousands) and represented 0.01%of net assets.

(I)

Step Bonds — The rate reflected is the effective yield on August 31, 2010. The coupon on a step bond changes on a specified date.

ABS — Asset-Backed Security

ARM — Adjustable Rate Mortgage

CDO — Collateralized Debt Obligation

Cl — Class

CMO — Collateralized Mortgage Obligation

EUR — Euro

FHLB — Federal Home Loan Bank

FHLMC — Federal Home Loan Mortgage Corporation

FICO — Fair Isaac Corporation

FNMA — Federal National Mortgage Association

GO — Government Obligation

GNMA — Government National Mortgage Association

IO — Interest Only—face amount represents notional amount

LIBOR — London Interbank Offered Rate

LLC — Limited Liability Company

L.P. — Limited Partnership

MTN — Medium Term Note

NA — National Association

NY — New York

PLC — Public Limited Company

PO — Principal Only

REMIC — Real Estate Mortgage Investment Conduit

RB — Revenue Bond

Ser — Series

STRIPS — Separately Traded Registered Interest and Principal Securities

TBA — To Be Announced

USD — United States Dollar

Amounts designated as “—” are $0 or have been rounded to $0.

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
Mortgage-Backed Securities	$	—	$	2,845,444	$	8,064	$	2,853,508
Corporate Obligations		—		1,617,296		279		1,617,575
U.S. Treasury Obligations		—		1,193,860		—		1,193,860
Affiliated Partnership		—		375,864		—		375,864
Asset-Backed Securities		—		291,874		2,837		294,711
U.S. Government Agency Obligations		—		147,411		—		147,411
Municipal Bonds		—		18,982		—		18,982
Cash Equivalent		388,109		—		—		388,109
Total Investments in Securities	$	388,109	$	6,490,731	$	11,180	$	6,890,020

Liabilities	Level 1		Level 2		Level 3		Total
Written Options	$	(188)	$	—	$	—	$	(188)

Other Financial Instruments	Level 1		Level 2		Level 3		Total
Futures Contracts*	$	(1,618)	$	—	$	—	$	(1,618)
Forward Currency Contracts*		—		50		—		50
Credit Default Swaps		—		(8,481)		—		(8,841)
Interest Rate Swaps		—		(6,754)		—		(6,754)
Total Other Financial Instruments	$	(1,618)	$	(15,185)	$	—	$	(16,803)

Futures contracts and forwards contracts are valued at the unrealized depreciation on the instrument.


	Investments in Corporate Obligations		Investments in Mortgage- Backed Securities
Beginning balance as of June 1, 2010	$	265	$	13,273
Accrued discounts/premiums		11		29
Realized gain/(loss)		—		112
Change in unrealized appreciation/(depreciation)		3		656
Net purchases/sales		—		(6,006	)
Net transfer in and/or out of Level 3		—		—
Ending balance as of August 31, 2010	$	279	$	8,064

Changes in unrealized gains/(losses) included in earnings related to securities still held at report end	$	3	$	552


	Investments in Asset- Backed Securities
Beginning balance as of June 1, 2010	$	3,334
Accrued discounts/premiums		3
Realized gain/(loss)		—
Change in unrealized appreciation/(depreciation)		103
Net purchases/sales		(603)
Net transfer in and/or out of Level 3		—
Ending balance as of August 31, 2010	$	2,837

Changes in unrealized gains/(losses) included in earnings related to securities still held at report end	$	65

For the period ended August 31, 2010, there were no significant transfers between Level 1 and Level 2 assets and liabilities.

The Fund enters into credit default swaps to simulate long and short bond positions that are either unavailable or considered to be less attractively priced in the bond market. The Fund uses these swaps to reduce risk where the Fund has exposure to the issuer, or to take an active long or short position with respect to the likelihood of an event of default. The reference obligation of the swap can be a single issuer, a “basket” of issuers, or an index. The underlying referenced assets are corporate debt, sovereign debt and asset backed securities.

The buyer of a credit default swap is generally obligated to pay the seller a periodic stream of payments over the term of the contract in return for a contingent payment upon the occurrence of a credit event with respect to an underlying reference obligation. Generally, a credit event for corporate or sovereign reference obligations means bankruptcy, failure to pay, obligation acceleration, repudiation/moratorium or restructuring. For credit default swaps on asset-backed securities, a credit event may be triggered by events such as failure to pay principal, maturity extension, rating downgrade or write-down. If a credit event occurs, the seller typically must pay the contingent payment to the buyer, which is typically the par value (full notional value) of the reference obligation, though the actual payment may be mitigated by terms of the International Swaps and Derivative Agreement (“ISDA”), allowing for netting arrangements and collateral. After a credit event occurs, this amount may be reduced by anticipated recovery rates, segregated collateral and netting arrangements that may incorporate multiple transactions with a given counterparty.

The contingent payment may be a cash settlement or a physical delivery of the reference obligation in return for payment of the face amount of the obligation. If the Fund is a buyer and no credit event occurs, the Fund may lose its investment and recover nothing. However, if a credit event occurs, the buyer typically receives full notional value for a reference obligation that may have little or no value. As a seller, the Buyer receives a fixed rate of income throughout the term of the contract, which typically is between one month and five years, provided that no credit event occurs. If a credit event occurs, the seller may pay the buyer the full notional value of the reference obligation. As of August 31, 2010, the Fund is the buyer (“receiving protection”) on a total notional amount of $66.6 million1 and is the seller (“providing protection”) on a total notional amount of $70.2 million. The notional amounts of the swaps are not recorded in the financial statements; however the notional amount does approximate the maximum potential amount of future payments that the Fund could be required to make if the Fund were the seller of protection and a credit event were to occur. Those credit default swaps for which the Fund is providing protection at balance sheet date are summarized as follows:


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

CORPORATE OBLIGATIONS — 85.0%

Consumer Discretionary — 16.3%
Adelphia Communications (escrow security)
10.250%, 06/15/11 (B)	$	125	$	2
7.875%, 01/15/09 (B)		250		4
7.750%, 05/01/09 (B)		75		1
Adelphia Communications, Ser B (escrow security)
9.500%, 02/15/04 (B)		25		—
America West Airlines LLC
8.057%, 07/02/20		1,963		1,968
American Airlines
13.000%, 08/01/16		2,367		2,711
American Tire Distributors
9.750%, 06/01/17 (A)		775		810
Ameristar Casinos
9.250%, 06/01/14		2,095		2,221
Amscan Holdings
8.750%, 05/01/14		4,276		4,265
ArvinMeritor
8.125%, 09/15/15		1,295		1,298
Ashtead Capital
9.000%, 08/15/16 (A)		2,324		2,356
Avis Budget Car Rental LLC
9.625%, 03/15/18		525		549
7.750%, 05/15/16		1,310		1,267
Beazer Homes USA
12.000%, 10/15/17		1,290		1,453
9.125%, 06/15/18		460		407
8.125%, 06/15/16		810		709
Belo
8.000%, 11/15/16		2,575		2,729
7.750%, 06/01/27		2,025		1,782
Bon-Ton Department Stores
10.250%, 03/15/14		900		837
Boyd Gaming
7.125%, 02/01/16		960		806
Brunswick
11.250%, 11/01/16 (A)		1,440		1,645
Burlington Coat Factory Investment Holdings
14.500%, 10/15/14		4,480		4,760
Burlington Coat Factory Warehouse
11.125%, 04/15/14		1,435		1,485
Cablevision Systems
8.625%, 09/15/17 (A)		1,170		1,275
8.000%, 04/15/20		535		571
7.750%, 04/15/18		900		947
Cedar Fair
9.125%, 08/01/18 (A)		2,975		3,027
Charter Communications Operating LLC
10.875%, 09/15/14 (A)		530		594
CKE Restaurants
11.375%, 07/15/18		4,835		4,714
Clear Channel Communications
9.250%, 12/15/17		2,265		2,375
9.250%, 12/15/17		615		638


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Continental Airlines 2000-1 Class B Pass Through Trust
8.388%, 11/01/20	$	1,168	$	1,163
Couche-Tard US
7.500%, 12/15/13		330		335
Dana (escrow security) (B)
6.500%, 03/15/08		100		3
7.000%, 03/01/09		175		4
7.000%, 03/15/28		200		5
6.500%, 03/01/29		1,100		28
Delta Air Lines
7.711%, 09/18/11		1,900		1,948
Dex One
12.000%, 01/29/17		724		530
DISH DBS
7.125%, 02/01/16		3,450		3,528
Dollar General
11.875%, 07/15/17		1,520		1,752
Eastman Kodak
9.750%, 03/01/18 (A)		1,700		1,628
7.250%, 11/15/13		2,930		2,747
Easton-Bell Sports
9.750%, 12/01/16 (A)		2,925		3,093
El Dorado Casino Shreveport PIK
10.000%, 08/01/12		1,102		937
El Pollo Loco
11.750%, 12/01/12		2,250		2,253
Entravision Communications
8.750%, 08/01/17		1,160		1,160
Equinox Holdings
9.500%, 02/01/16 (A)		1,255		1,255
Ferrellgas
9.125%, 10/01/17 (A)		2,500		2,675
Fontainebleau Las Vegas
11.000%, 06/15/15 (A)(B)		3,500		9
Ford Motor
7.450%, 07/16/31		1,975		1,926
6.375%, 02/01/29		1,080		945
Games Merger
11.000%, 06/01/18 (A)		9,045		9,497
Goodyear Tire & Rubber
10.500%, 05/15/16		325		361
9.000%, 07/01/15		51		54
8.750%, 08/15/20		110		116
8.625%, 12/01/11		831		868
8.250%, 08/15/20		2,155		2,206
Gray Television
10.500%, 06/29/15 (A)		1,298		1,249
GWR Operating Partnership LLP
10.875%, 04/01/17 (A)		835		829
Hanesbrands
8.000%, 12/15/16		3,410		3,551
Hanesbrands, Ser B
3.831%, 12/15/14 (C)		985		936
Harrah’s Operating
11.250%, 06/01/17 (A)		10,230		10,946
10.000%, 12/15/18		5,363		4,183
5.750%, 10/01/17		400		251
Hertz
8.875%, 01/01/14		1,410		1,449
Hillman Group
10.875%, 06/01/18 (A)		735		773


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

HSN
11.250%, 08/01/16	$	1,700	$	1,929
Inergy
8.750%, 03/01/15		850		905
8.250%, 03/01/16		515		540
6.875%, 12/15/14		245		246
Intcomex
13.250%, 12/15/14 (A)		4,315		4,563
Isle of Capri Casinos
7.000%, 03/01/14		590		509
Jarden
8.000%, 05/01/16		640		676
7.500%, 05/01/17		1,740		1,773
K. Hovnanian Enterprises
7.500%, 05/15/16		685		454
6.250%, 01/15/15		835		559
Landry’s Restaurants
11.625%, 12/01/15 (A)		2,514		2,608
11.625%, 12/01/15 (A)		936		971
Lear
8.125%, 03/15/20		1,130		1,172
7.875%, 03/15/18		965		999
Levi Strauss
7.625%, 05/15/20 (A)		1,605		1,633
Libbey Glass
10.000%, 02/15/15 (A)		1,125		1,195
Lions Gate Entertainment
10.250%, 11/01/16 (A)		3,465		3,409
Live Nation Entertainment
8.125%, 05/15/18 (A)		1,500		1,448
M/I Homes
6.875%, 04/01/12		640		636
MCE Finance
10.250%, 05/15/18 (A)		1,235		1,321
McJunkin Red Man
9.500%, 12/15/16 (A)		505		446
MDC Partners
11.000%, 11/01/16 (A)		3,400		3,655
MGM Mirage
11.375%, 03/01/18 (A)		6,455		5,842
11.125%, 11/15/17 (A)		1,830		2,045
10.375%, 05/15/14 (A)		300		327
9.000%, 03/15/20 (A)		5,240		5,436
7.500%, 06/01/16		2,375		1,864
6.875%, 04/01/16		250		196
6.750%, 04/01/13		1,235		1,078
5.875%, 02/27/14		3,085		2,437
Michaels Stores
13.000%, 11/01/16		500		470
11.375%, 11/01/16 (A)		21		23
Mohegan Tribal Gaming Authority
7.125%, 08/15/14		905		520
6.875%, 02/15/15		250		141
MTR Gaming Group
12.625%, 07/15/14		2,760		2,898
NCL
11.750%, 11/15/16 (A)		1,210		1,337
Neiman-Marcus Group PIK
9.000%, 10/15/15		1,868		1,892
Niska Gas Storage US LLC
8.875%, 03/15/18 (A)		1,845		1,942


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Norcraft Holdings
9.750%, 09/01/12	$	1,231	$	1,151
OSI Restaurant Partners
10.000%, 06/15/15		3,533		3,515
Penn National Gaming
6.750%, 03/01/15		3,490		3,507
Penninsula Gaming
10.750%, 08/15/17 (A)		1,740		1,827
8.375%, 08/15/15 (A)		3,150		3,268
Penske Auto Group
7.750%, 12/15/16		1,700		1,623
Phillips-Van Heusen
7.375%, 05/15/20		5,540		5,706
Pinnacle Entertainment
8.750%, 05/15/20 (A)		4,170		4,024
Pinnacle Foods Finance LLC
8.250%, 09/01/17		1,250		1,239
Quebecor Media
7.750%, 03/15/16		290		296
Quiksilver
6.875%, 04/15/15		2,025		1,873
QVC
7.500%, 10/01/19 (A)		4,215		4,299
7.375%, 10/15/20 (A)		470		477
Regal Entertainment
9.125%, 08/15/18		2,195		2,250
River Rock Entertainment Authority
9.750%, 11/01/11		4,717		4,222
RJ Tower
12.000%, 06/01/13 (B)		210		1
Royal Caribbean Cruises
11.875%, 07/15/15		900		1,060
7.250%, 06/15/16		640		645
7.000%, 06/15/13		925		945
RSC Equipment Rental
9.500%, 12/01/14		3,230		3,295
Sabre Holdings
8.350%, 03/15/16		2,250		2,273
Salem Communications
9.625%, 12/15/16		1,085		1,130
Sally Holdings LLC
9.250%, 11/15/14		1,565		1,643
San Pasqual Casino
8.000%, 09/15/13 (A)		1,530		1,492
Sbarro
10.375%, 02/01/15		1,866		1,213
Sealy Mattress
8.250%, 06/15/14		3,705		3,705
Service International
7.000%, 06/15/17		30		31
6.750%, 04/01/15		1,895		1,976
Shingle Springs Tribal Group
9.375%, 06/15/15 (A)		1,685		1,285
Simmons Bedding
11.250%, 07/15/15 (A)		4,710		5,051
Simmons Holdco Escrow
0.000%, 12/15/14 (D)(H)		6,595		—
Sinclair Broadcast Group
8.000%, 03/15/12		2,025		2,025
Sirius XM Radio
9.750%, 09/01/15 (A)		1,380		1,501
8.750%, 04/01/15 (A)		3,000		3,090


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Speedway Motorsports
8.750%, 06/01/16	$	1,750	$	1,851
Stanadyne Holdings
12.000%, 02/15/15		1,500		1,238
Stanadyne Holdings, Ser 1
10.000%, 08/15/14		1,275		1,205
Standard Pacific
10.750%, 09/15/16		2,275		2,394
8.375%, 05/15/18		429		413
Steinway Musical Instruments
7.000%, 03/01/14 (A)		5,070		4,930
Suburban Propane Partners
7.375%, 03/15/20		2,500		2,606
Sun Media
7.625%, 02/15/13		505		505
Travelport LLC
11.875%, 09/01/16		6,305		6,668
9.000%, 03/01/16		2,505		2,480
5.163%, 09/01/14 (C)		1,329		1,233
TRW Automotive
7.250%, 03/15/17 (A)		575		588
7.000%, 03/15/14 (A)		540		556
Turning Stone Resort Casino Enterprise
9.125%, 09/15/14 (A)		6,104		6,165
United Components
9.375%, 06/15/13		1,030		1,043
Univision Communications
9.750%, 03/15/15 (A)		4,879		4,391
Vail Resorts
6.750%, 02/15/14		1,970		1,982
Videotron
6.875%, 01/15/14		800		804
VWR Funding
10.250%, 07/15/15		3,777		3,909
Wynn Las Vegas LLC
7.875%, 11/01/17 (A)		155		159
7.875%, 05/01/20 (A)		395		399
7.750%, 08/15/20 (A)		4,470		4,515

				295,166


Consumer Staples — 8.3%
Accellent
10.500%, 12/01/13		915		913
Alion Science and Technology
12.000%, 11/01/14 (A)		2,981		2,940
Alliance One International
10.000%, 07/15/16 (A)		935		979
American Renal Holdings
8.375%, 05/15/18 (A)		3,830		3,830
Apria Healthcare Group
12.375%, 11/01/14 (A)		5,120		5,581
B&G Foods
7.625%, 01/15/18		2,920		3,004
Bausch & Lomb
9.875%, 11/01/15		2,090		2,168
Biomet
11.625%, 10/15/17		7,725		8,497
Bumble Bee Foods LLC
7.750%, 12/15/15 (A)		860		909
C&S Group Enterprises LLC
8.375%, 05/01/17 (A)		2,970		2,844


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Catalent Pharma Solutions
9.500%, 04/15/15	$	5,314	$	5,307
Central Garden and Pet
8.250%, 03/01/18		1,105		1,113
Chiquita Brands International
8.875%, 12/01/15		1,600		1,620
Constellation Brands
8.375%, 12/15/14		2,000		2,175
7.250%, 09/01/16		2,190		2,294
7.250%, 05/15/17		1,250		1,309
Cott Beverages
8.375%, 11/15/17 (A)		3,720		3,892
8.125%, 09/01/18		1,280		1,317
Dean Foods
7.000%, 06/01/16		690		647
6.900%, 10/15/17		300		273
DJO Finance LLC
10.875%, 11/15/14		2,730		2,925
Dole Food
13.875%, 03/15/14		517		622
8.000%, 10/01/16 (A)		405		418
Fleming
10.125%, 04/01/08 (B)(F)		983		—
HCA
9.625%, 11/15/16		9,441		10,137
9.250%, 11/15/16		5,660		6,084
Lantheus Medical Imaging
9.750%, 05/15/17 (A)		3,710		3,747
Laureate Education
11.750%, 08/15/17 (A)		1,100		1,150
10.000%, 08/15/15 (A)		525		534
Michael Foods
9.750%, 07/15/18 (A)		375		394
Novasep Holding SAS
9.750%, 12/15/16 (A)		870		780
Pantry
7.750%, 02/15/14		3,785		3,752
PharmaNet Development Group
10.875%, 04/15/17 (A)		2,775		2,754
Radiation Therapy Services
9.875%, 04/15/17 (A)		1,965		1,921
Rite Aid
10.375%, 07/15/16		3,455		3,572
10.250%, 10/15/19		1,170		1,202
9.750%, 06/12/16		2,340		2,486
9.500%, 06/15/17		4,955		3,927
9.375%, 12/15/15		705		572
8.000%, 08/15/20		3,895		3,871
7.500%, 03/01/17		1,080		976
RSC Equipment Rental
10.000%, 07/15/17 (A)		2,000		2,180
Seminole Indian Tribe of Florida
6.535%, 10/01/20 (A)		1,000		881
ServiceMaster
10.750%, 07/15/15 (A)		6,880		7,207
7.450%, 08/15/27		1,500		1,110
7.250%, 03/01/38		3,170		2,219
7.100%, 03/01/18		1,155		959
Smithfield Foods
7.750%, 07/01/17		1,000		972


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Spectrum Brands
12.000%, 08/28/19	$	2,135	$	2,290
9.500%, 06/15/18		4,145		4,363
SuperValu
8.000%, 05/01/16		3,560		3,569
Ticketmaster Entertainment LLC
10.750%, 08/01/16		5,495		5,852
Tops Markets LLC
10.125%, 10/15/15 (A)		1,330		1,397
United Rentals North America
10.875%, 06/15/16		3,000		3,330
9.250%, 12/15/19		1,085		1,153
Universal Hospital Services
8.500%, 06/01/15		380		382
US Oncology
9.125%, 08/15/17		1,775		1,837
US Oncology Holdings
6.427%, 03/15/12 (C)		1,270		1,184
Vanguard Health Holding II LLC
8.000%, 02/01/18		2,965		2,909
Yankee Acquisition, Ser B
9.750%, 02/15/17		2,805		2,861

				150,091


Energy — 8.2%
American Petroleum Tankers LLC
10.250%, 05/01/15 (A)		1,295		1,311
Anadarko Petroleum
6.450%, 09/15/36		1,125		976
6.375%, 09/15/17		1,020		1,009
Aquilex Holdings LLC
11.125%, 12/15/16 (A)		2,800		2,769
Arch Coal
8.750%, 08/01/16 (A)		2,850		3,085
7.250%, 10/01/20		235		239
Atlas Energy Operating LLC
12.125%, 08/01/17		190		218
10.750%, 02/01/18		1,845		2,034
Aventine Renewable Energy Holdings
13.000%, 03/15/15 (A)(F)(I)		932		979
Basic Energy Services
11.625%, 08/01/14		1,300		1,417
Bill Barrett
9.875%, 07/15/16		1,000		1,085
Bristow Group
7.500%, 09/15/17		2,260		2,260
Calfrac Holdings
7.750%, 02/15/15 (A)		3,000		2,970
Chesapeake Energy
9.500%, 02/15/15		1,545		1,738
6.875%, 08/15/18		4,090		4,172
6.625%, 08/15/20		310		311
6.500%, 08/15/17		1,200		1,218
Cloud Peak Energy Resources LLC
8.250%, 12/15/17 (A)		1,225		1,266
Complete Production Services
8.000%, 12/15/16		760		770
Compton Petroleum Finance
7.625%, 12/01/13		350		303


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Consol Energy
8.250%, 04/01/20 (A)	$	1,680	$	1,783
8.000%, 04/01/17 (A)		2,200		2,321
Continental Resources
7.375%, 10/01/20 (A)		2,500		2,525
Copano Energy LLC
7.750%, 06/01/18		2,930		2,930
Crosstex Energy
8.875%, 02/15/18		2,235		2,308
Denbury Resources
9.750%, 03/01/16		675		744
Digital Content Protection
10.750%, 08/15/15		3,000		2,970
Drummond
9.000%, 10/15/14 (A)		1,220		1,276
Dynegy Holdings
7.750%, 06/01/19		3,670		2,367
7.625%, 10/15/26		1,230		677
7.500%, 06/01/15		650		497
El Paso
8.250%, 02/15/16		780		850
7.420%, 02/15/37		1,000		913
7.250%, 06/01/18		2,425		2,598
7.000%, 06/15/17		270		285
Forbes Energy Services LLC
11.000%, 02/15/15		806		735
Forest Oil
8.500%, 02/15/14		385		409
8.000%, 12/15/11		800		837
7.250%, 06/15/19		2,155		2,158
General Maritime
12.000%, 11/15/17 (A)		1,215		1,285
Global Geophysical Services
10.500%, 05/01/17 (A)		540		535
Helix Energy Solutions Group
9.500%, 01/15/16 (A)		3,210		3,162
Hercules Offshore
10.500%, 10/15/17 (A)		1,210		1,101
Hilcorp Energy I
8.000%, 02/15/20 (A)		1,280		1,306
Holly
9.875%, 06/15/17 (A)		3,135		3,292
International Coal Group
9.125%, 04/01/18		1,165		1,232
Kerr-McGee
6.950%, 07/01/24		525		531
Key Energy Services
8.375%, 12/01/14		960		991
Linn Energy LLC
11.750%, 05/15/17 (A)		260		296
9.875%, 07/01/18 (A)		420		460
8.625%, 04/15/20 (A)		3,455		3,645
MarkWest Energy Partners
8.750%, 04/15/18		1,325		1,418
MarkWest Energy Partners, Ser B
8.500%, 07/15/16		250		261
Murray Energy
10.250%, 10/15/15 (A)		1,150		1,176
Newfield Exploration
7.125%, 05/15/18		5,635		5,896
6.875%, 02/01/20		2,075		2,163


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

NFR Energy LLC
9.750%, 02/15/17 (A)	$	1,220	$	1,232
9.750%, 02/15/17 (A)		680		687
OPTI Canada
9.750%, 08/15/13		445		439
9.000%, 12/15/12 (A)		455		456
8.250%, 12/15/14		3,420		2,668
7.875%, 12/15/14		2,840		2,187
Parker Drilling
9.125%, 04/01/18 (A)		3,010		3,010
Penn Virginia
10.375%, 06/15/16		400		435
Petrohawk Energy
10.500%, 08/01/14		2,305		2,576
7.250%, 08/15/18		2,850		2,829
PetroHawk Energy
7.875%, 06/01/15		1,895		1,966
Petroleum Development
12.000%, 02/15/18		2,730		2,935
Pioneer Drilling
9.875%, 03/15/18 (A)		580		580
Plains Exploration & Production
10.000%, 03/01/16		1,140		1,248
7.750%, 06/15/15		75		76
7.625%, 06/01/18		350		355
7.625%, 04/01/20		725		732
7.000%, 03/15/17		1,440		1,415
Pride International
8.500%, 06/15/19		1,505		1,704
6.875%, 08/15/20		1,440		1,510
Quicksilver Resources
11.750%, 01/01/16		2,200		2,530
7.125%, 04/01/16		1,750		1,680
Range Resources
8.000%, 05/15/19		4,575		4,895
7.500%, 05/15/16		350		364
SandRidge Energy
9.875%, 05/15/16 (A)		1,595		1,587
8.750%, 01/15/20 (A)		1,720		1,634
8.625%, 04/01/15		2,965		2,835
8.500%, 12/31/49		8		645
Southwestern Energy
7.500%, 02/01/18		1,125		1,268
Targa Resources
11.250%, 07/15/17 (A)		3,475		3,996
7.875%, 10/15/18		2,445		2,512
Tesoro
9.750%, 06/01/19		2,600		2,801
Thermon Industries
9.500%, 05/01/17 (A)		1,790		1,835
Vantage Drilling
11.500%, 08/01/15 (A)		2,830		2,823

				148,508


Financials — 13.9%
Aircastle
9.750%, 08/01/18 (A)		500		506
Algoma Acquisition
9.875%, 06/15/15 (A)		1,400		1,225
ALH Finance LLC
8.500%, 01/15/13		2,365		2,377
Alliant Holdings
11.000%, 05/01/15 (A)		3,350		3,438


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Ally Financial
8.000%, 12/31/18	$	1,250	$	1,205
8.000%, 11/01/31		5,428		5,347
7.500%, 09/15/20		5,785		5,727
6.750%, 12/01/14		6,426		6,378
American Capital
8.960%, 12/31/13		1,821		1,830
American General Finance
5.400%, 12/01/15		3,280		2,501
American International Group
8.175%, 05/15/58 (C)		2,225		1,908
Antero Resources
9.375%, 12/01/17		990		1,022
Bank of America
8.000%, 12/29/49 (C)		635		648
Bankrate
11.750%, 07/15/15 (A)		2,230		2,308
Boise Paper Holding
9.000%, 11/01/17		2,670		2,810
Cardtronics
8.250%, 09/01/18		5,950		6,076
Cemex Finance LLC
9.500%, 12/14/16 (A)		7,635		7,330
CEVA Group
11.625%, 10/01/16 (A)		3,155		3,309
11.500%, 04/01/18 (A)		2,500		2,606
Chukchansi Economic Development Authority
4.123%, 11/15/12 (A)(C)		2,185		1,245
CIT Group
7.000%, 05/01/13		212		211
7.000%, 05/01/14		4,709		4,585
7.000%, 05/01/15		919		883
7.000%, 05/01/16		7,687		7,303
7.000%, 05/01/17		4,040		3,798
Citigroup Capital XXI
8.300%, 12/21/57 (C)		635		659
City National Bank
9.000%, 08/12/19		4,062		4,062
City National Capital Trust I
9.625%, 02/01/40		1,375		1,448
Credit Acceptance
9.125%, 02/01/17 (A)		2,600		2,694
Delphi Financial Group
7.875%, 01/31/20		4,050		4,519
E*Trade Financial
7.375%, 09/15/13		300		285
E*Trade Financial PIK
12.500%, 11/30/17		2,355		2,626
Encore Acquisition
9.500%, 05/01/16		25		27
Energy Future Holdings
10.000%, 12/01/20		1,861		1,788
Express LLC
8.750%, 03/01/18 (A)		790		818
Felcor Lodging
10.000%, 10/01/14 ‡		1,320		1,409
Fidelity National
7.875%, 07/15/20		970		1,019
7.625%, 07/15/17		1,630		1,699


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

FireKeepers Development Authority
13.875%, 05/01/15 (A)	$	3,697	$	4,289
Ford Motor Credit LLC
12.000%, 05/15/15		1,695		2,003
8.700%, 10/01/14		3,235		3,532
8.000%, 06/01/14		2,000		2,123
8.000%, 12/15/16		2,100		2,280
7.000%, 10/01/13		8,195		8,556
7.000%, 04/15/15		2,565		2,649
6.625%, 08/15/17		2,090		2,124
Fresenius US Finance II
9.000%, 07/15/15 (A)		800		896
Genworth Financial
6.500%, 06/15/34		1,045		953
6.150%, 11/15/66 (C)		5,942		4,159
Greektown Superholdings
13.000%, 07/01/15 (A)		2,900		3,103
HBOS Capital Funding
6.071%, 06/30/49 (A)(C)		1,900		1,482
Hellas II
6.881%, 01/15/15 (A)(B)(C)		2,100		26
Host Hotels & Resorts
9.000%, 05/15/17 ‡		470		517
Host Marriott LP, Ser Q
6.750%, 06/01/16 ‡		1,600		1,624
HUB International Holdings
10.250%, 06/15/15 (A)		410		387
9.000%, 12/15/14 (A)		2,270		2,171
Icahn Enterprises
8.000%, 01/15/18		3,400		3,383
7.750%, 01/15/16		4,500		4,466
ILFC E-Capital Trust II
6.250%, 12/21/65 (A)(C)		2,695		1,715
International Lease Finance
8.750%, 03/15/17 (A)		3,655		3,687
8.625%, 09/15/15 (A)		4,430		4,458
7.125%, 09/01/18		1,720		1,759
6.750%, 09/01/16		425		435
6.375%, 03/25/13		2,630		2,541
5.650%, 06/01/14		790		733
Ironshore Holdings US
8.500%, 05/15/20 (A)		5,000		5,029
Level 3 Financing
10.000%, 02/01/18		3,305		2,851
Liberty Mutual Group
7.000%, 03/15/37 (A)(C)		1,530		1,292
Lloyds Banking Group
6.267%, 11/14/16 (A)		310		202
5.920%, 09/29/49 (A)(C)		470		306
Marina District Finance
9.875%, 08/15/18		1,135		1,132
9.500%, 10/15/15		900		893
Marlin Water Trust II
6.310%, 07/15/03 (A)(B)		4,000		—
MetLife Capital Trust X
9.250%, 04/08/38 (A)(C)		3,135		3,605
Millennium
7.625%, 11/15/26 (B)		200		—
National Life Insurance
10.500%, 09/15/39 (A)		1,100		1,381


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Norcraft Holdings
10.500%, 12/15/15	$	625	$	645
Nuveen Investments
10.500%, 11/15/15		12,470		11,847
5.500%, 09/15/15		1,420		1,101
Ohio Casualty
7.300%, 06/15/14		1,050		1,157
Omega Healthcare Investors
7.500%, 02/15/20 ‡(A)		3,505		3,667
Penson Worldwide
12.500%, 05/15/17 (A)		1,270		1,254
PHH
9.250%, 03/01/16 (A)		1,295		1,310
Pinnacle Foods Finance LLC
10.625%, 04/01/17		2,835		2,959
9.250%, 04/01/15		170		174
9.250%, 04/01/15 (A)		495		508
PNC Preferred Funding Trust II
6.113%, 03/29/49 (A)(C)		2,640		1,916
Protective Life
8.450%, 10/15/39		3,140		3,477
Rabobank Nederland
11.000%, 12/31/49 (A)(C)		1,050		1,374
Realogy
10.500%, 04/15/14		1,265		1,031
Regions Financing Trust II
6.625%, 05/15/47 (C)		470		374
Reynolds Group Issuer
8.500%, 05/15/18 (A)		2,545		2,443
7.750%, 10/15/16 (A)		6,540		6,589
Snoqualmie Entertainment Authority
9.125%, 02/01/15 (A)		3,210		2,825
4.428%, 02/01/14 (A)(C)		445		367
SSI Investments II
11.125%, 06/01/18 (A)		1,020		1,066
Susquehanna Capital II
11.000%, 03/23/40		1,300		1,346
Susser Holdings LLC
8.500%, 05/15/16 (A)		4,015		4,115
Symetra Financial
6.125%, 04/01/16 (A)		565		583
UCI Holdco
8.727%, 12/15/13 (C)		1,284		1,259
Unitrin
6.000%, 05/15/17		1,140		1,143
USI Holdings
9.750%, 05/15/15 (A)		3,687		3,512
Ventas Realty L.P.
6.750%, 04/01/17 ‡		775		808
WMG
9.500%, 06/15/16		2,855		2,983
XL Capital
6.500%, 12/31/49 (C)		4,425		3,336
Yankee Acquisition, Ser B
8.500%, 02/15/15		1,705		1,726
Zions Bancorporation
5.650%, 05/15/14		160		152

				249,418


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Health Care — 3.8%
Biomet
10.375%, 10/15/17	$	7,015	$	7,629
10.000%, 10/15/17		4,530		4,915
Bioscrip
10.250%, 10/01/15		5,330		5,390
Community Health Systems
8.875%, 07/15/15		2,210		2,293
Cooper
7.125%, 02/15/15		1,185		1,194
HCA
9.875%, 02/15/17		170		186
8.500%, 04/15/19		2,640		2,894
Health Management Associates
6.125%, 04/15/16		2,140		2,073
Healthsouth
8.125%, 02/15/20		3,210		3,246
Inventiv Health
10.000%, 08/15/18		1,425		1,393
Inverness Medical Innovations
9.000%, 05/15/16		5,650		5,706
MultiPlan
9.875%, 09/01/18		1,390		1,397
Mylan
7.875%, 07/15/20 (A)		2,395		2,497
7.625%, 07/15/17 (A)		5,815		6,004
Omnicare
7.750%, 06/01/20		2,500		2,500
6.125%, 06/01/13		400		395
Psychiatric Solutions
7.750%, 07/15/15		1,000		1,032
ReAble Therapeutics Finance LLC
11.750%, 11/15/14		3,502		3,650
Select Medical
7.625%, 02/01/15		4,970		4,684
Surgical Care Affiliates
8.875%, 07/15/15 (A)		1,636		1,640
Talecris Biotherapeutics
7.750%, 11/15/16		1,440		1,566
Tenet Healthcare
10.000%, 05/01/18		45		51
9.250%, 02/01/15		2,090		2,184
8.875%, 07/01/19		495		535
United Surgical Partners International
8.875%, 05/01/17		105		108
United Surgical Partners International PIK
9.250%, 05/01/17		3,190		3,274

				68,436


Industrials — 8.9%
Accellent
8.375%, 02/01/17		1,705		1,696
ACCO Brands
10.625%, 03/15/15		3,325		3,658
7.625%, 08/15/15		905		864
Accuride
9.500%, 08/01/18		4,430		4,541
Actuant
6.875%, 06/15/17		2,575		2,594


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Aleris International PIK
9.000%, 12/15/14 (B)	$	950	$	2
Aleris International
10.000%, 12/15/16 (B)		1,675		1
Alliant Techsystems
6.750%, 04/01/16		4,090		4,110
Allison Transmission
11.000%, 11/01/15 (A)		1,558		1,675
American Axle & Manufacturing
7.875%, 03/01/17		1,705		1,577
Ames True Temper
10.000%, 07/15/12		1,115		1,118
4.303%, 01/15/12 (C)		1,730		1,726
Amsted Industries
8.125%, 03/15/18 (A)		3,730		3,846
ArvinMeritor
10.625%, 03/15/18		610		662
Associated Materials
11.250%, 03/01/14 (D)		1,255		1,272
Associated Materials LLC
9.875%, 11/15/16		480		509
Atrium
15.000%, 12/15/12 (A)(B)(E)		1,593		24
Baker & Taylor
11.500%, 07/01/13 (A)		925		638
Baldor Electric
8.625%, 02/15/17		990		1,047
BE Aerospace
8.500%, 07/01/18		650		696
Belden
9.250%, 06/15/19 (A)		655		707
Berry Plastics
10.250%, 03/01/16		2,400		2,154
9.500%, 05/15/18 (A)		2,076		1,910
Buffalo Thunder Development Authority
9.375%, 12/15/14 (A)(B)		2,050		512
Case New Holland
7.875%, 12/01/17 (A)		1,250		1,316
7.750%, 09/01/13		1,010		1,060
Casella Waste Systems
11.000%, 07/15/14		30		33
9.750%, 02/01/13		1,765		1,780
Cemex Espana Luxembourg
9.250%, 05/12/20 (A)		808		738
Chart Industries
9.125%, 10/15/15		2,000		2,000
Clean Harbors
7.625%, 08/15/16		575		589
Coleman Cable
9.000%, 02/15/18		3,845		3,927
Continental Airlines
7.339%, 04/19/14		2,390		2,492
Corrections Corp of America
7.750%, 06/01/17		1,050		1,116
CPM Holdings
10.625%, 09/01/14 (A)		735		794
DAE Aviation Holdings
11.250%, 08/01/15 (A)		1,185		1,194
Delta Air Lines
12.250%, 03/15/15 (A)		4,355		4,785


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Diversey Holdings
10.500%, 05/15/20	$	2,124	$	2,374
8.250%, 11/15/19		1,410		1,459
DryShips
5.000%, 12/01/14		830		664
ESCO
8.625%, 12/15/13 (A)		400		408
4.132%, 12/15/13 (A)(C)		560		510
Esterline Technologies
7.000%, 08/01/20		1,835		1,867
General Cable
7.125%, 04/01/17		1,120		1,128
Geo Group
7.750%, 10/15/17(A)		1,310		1,349
Global Aviation Holdings
14.000%, 08/15/13 (A)		2,850		3,021
Global Marine
7.000%, 06/01/28		420		404
Goodman Global Group
12.795%, 12/15/14 (A)		4,800		3,048
Graham Packaging
8.250%, 01/01/17 (A)		330		326
7.625%, 10/07/11		2,660		2,660
Graphic Packaging International
9.500%, 06/15/17		1,245		1,326
Harland Clarke Holdings
9.500%, 05/15/15		3,950		3,762
6.000%, 05/15/15 (C)		545		458
Interface
11.375%, 11/01/13		475		537
9.500%, 02/01/14		146		151
Interline Brands
8.125%, 06/15/14		810		824
International Wire Group
9.750%, 04/15/15 (A)		1,105		1,105
Iron Mountain
8.750%, 07/15/18		1,400		1,477
8.375%, 08/15/21		1,115		1,185
Kansas City Southern de Mexico
12.500%, 04/01/16		225		270
8.000%, 02/01/18 (A)		1,530		1,626
Koppers
7.875%, 12/01/19		1,245		1,274
Kratos
10.000%, 06/01/17		2,250		2,323
Manitowoc
9.500%, 02/15/18		1,960		2,014
Masco
7.125%, 03/15/20		115		117
7.750%, 11/15/13		1,375		1,186
Mueller Water Products
8.750%, 09/01/20		345		347
NESL
11.000%, 09/01/18		265		264
Nova Chemicals
8.625%, 11/01/19		275		283
NXP Funding LLC
10.000%, 07/15/13 (A)		598		649
9.750%, 08/01/18		2,995		3,085
9.500%, 10/15/15		2,880		2,801
7.875%, 10/15/14		1,500		1,507


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Oshkosh
8.500%, 03/01/20	$	1,200	$	1,275
8.250%, 03/01/17		1,405		1,479
Plastipak Holdings
10.625%, 08/15/19 (A)		665		738
Ply Gem
13.125%, 07/15/14		1,290		1,293
Pregis
12.375%, 10/15/13		2,436		2,436
Quality Distribution LLC
11.750%, 11/01/13		818		773
Quebecore
0.000%, 11/15/13 (B)(F)		1,800		—
0.000%, 03/15/16 (F)(I)		2,175		130
Radnet Management
10.375%, 04/01/18(A)		1,400		1,228
RailAmerica
9.250%, 07/01/17		1,004		1,089
RBS Global & Rexnord
11.750%, 08/01/16		1,395		1,493
8.500%, 05/01/18		4,090		4,121
Saint Acquisition
12.500%, 05/15/17 (A)		665		667
Sequa
13.500%, 12/01/15 (A)		500		530
11.750%, 12/01/15 (A)		4,220		4,347
Solo Cup
10.500%, 11/01/13		990		1,001
Spirit Aerosystems
7.500%, 10/01/17		910		935
SPX
7.625%, 12/15/14		1,330		1,433
syncreon Global Ireland
9.500%, 05/01/18 (A)		2,187		2,138
Terex
10.875%, 06/01/16		1,000		1,105
8.000%, 11/15/17		5,630		5,377
Thermadyne Holdings
9.500%, 02/01/14		1,040		1,052
Trimas
9.750%, 12/15/17 (A)		1,020		1,053
Triumph Group
8.625%, 07/15/18 (A)		410		435
8.000%, 11/15/17		275		277
UAL Pass Through Trust Series 2000-1
8.030%, 07/01/11		540		662
UAL Pass-Through Trust
12.000%, 01/15/16		301		327
6.636%, 07/02/22		469		450
United Air Lines
12.000%, 11/01/13 (A)		1,920		2,054
10.400%, 11/01/16		1,662		1,844
9.875%, 08/01/13 (A)		1,370		1,456
9.750%, 01/15/17		1,347		1,495
United Air Lines, Ser 95A1
9.020%, 04/19/12 (B)		522		209
United Air Lines
9.125%, 01/15/12 (B)(F)		625		—
United Air Lines, Ser A
9.900%, 05/01/04 (B)(F)		325		—
11.750%, 06/15/15		4,100		4,028


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

USG
9.750%, 08/01/14 (A)	$	265	$	275
6.300%, 11/15/16		1,975		1,718
Wyle Services
10.500%, 04/01/18 (A)		1,800		1,768

				159,843


Information Technology — 5.1%
Activant Solutions
9.500%, 05/01/16		1,975		1,876
Amkor Technology
9.250%, 06/01/16		3,015		3,188
7.375%, 05/01/18 (A)		2,025		2,020
Aspect Software
10.625%, 05/15/17 (A)		2,715		2,786
Brocade Communications Systems
6.875%, 01/15/20 (A)		480		491
6.625%, 01/15/18 (A)		480		487
Compucom Systems
12.500%, 10/01/15 (A)		4,380		4,604
CSC Holdings
8.625%, 02/15/19		2,650		2,955
DynCorp International
10.375%, 07/01/17 (A)		4,680		4,657
Equinix
8.125%, 03/01/18		3,150		3,292
Exide Technologies
10.500%, 03/15/13		1,000		1,019
First Data
11.250%, 03/31/16		1,565		1,029
10.550%, 09/24/15		6,016		4,527
9.875%, 09/24/15		2,780		2,113
8.875%, 08/15/20		1,090		1,093
Freescale Semiconductor
10.125%, 12/15/16		1,625		1,333
10.125%, 03/15/18 (A)		315		324
9.250%, 04/15/18 (A)		8,020		8,040
Interactive Data Corp
10.250%, 08/01/18		1,200		1,238
JDA Software Group
8.000%, 12/15/14 (A)		1,010		1,053
MagnaChip Semiconductor
10.500%, 04/15/18 (A)		4,415		4,559
Open Solutions
9.750%, 02/01/15 (A)		5,090		3,868
Sanmina-SCI
8.125%, 03/01/16		540		544
Smart Modular
5.791%, 04/01/12 (C)		760		760
STATS ChipPAC
7.500%, 08/12/15		3,200		3,328
Stratus Technologies
12.000%, 03/29/15 (A)		2,575		2,240
Sungard Data Systems
10.250%, 08/15/15		6,387		6,706
9.125%, 08/15/13		7,995		8,165
Terremark Worldwide
12.000%, 06/15/17		2,655		3,000
14.250%, 09/15/15 (A)		1,660		1,942
12.750%, 10/15/14 (A)		6,695		7,800


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Viasat
8.875%, 09/15/16	$	665	$	704

				91,741


Materials — 6.8%
AK Steel
7.625%, 05/15/20		1,992		2,007
Appleton Papers
10.500%, 06/15/15 (A)		1,040		965
Arch Western Finance LLC
6.750%, 07/01/13		225		226
Ashland
9.125%, 06/01/17		3,330		3,804
Building Materials
6.875%, 08/15/18		4,295		4,177
Bway Holding
10.000%, 06/15/18 (A)		995		1,055
Cascades
7.875%, 01/15/20		1,440		1,480
Century Aluminum
8.000%, 05/15/14		1,071		1,057
CF Industries
7.125%, 05/01/20		1,884		2,021
6.875%, 05/01/18		5,605		5,899
Chemtura
7.875%, 09/01/18		2,450		2,502
Clearwater Paper
10.625%, 06/15/16		855		962
CPG International I
10.500%, 07/01/13		2,100		2,097
Crown Americas
7.750%, 11/15/15		695		721
Domtar
10.750%, 06/01/17		3,500		4,314
9.500%, 08/01/16		250		286
Essar Steel Algoma
9.375%, 03/15/15 (A)		125		123
Ferro
7.875%, 08/15/18		1,000		1,020
FMG Finance
10.625%, 09/01/16 (A)		3,785		4,386
Georgia-Pacific
8.000%, 01/15/24		3,070		3,377
7.125%, 01/15/17 (A)		5,380		5,676
7.000%, 01/15/15 (A)		2,010		2,080
Georgia-Pacific LLC
8.250%, 05/01/16 (A)		2,220		2,431
Glatfelter
7.125%, 05/01/16 (A)		175		176
Graham Packaging
9.875%, 10/15/14		2,370		2,411
Headwaters
11.375%, 11/01/14		1,335		1,409
Hexion US Fin/Nova Scotia
9.750%, 11/15/14		3,384		3,325
8.875%, 02/01/18		1,425		1,318
4.936%, 11/15/14 (C)		750		617
Huntsman International LLC
8.625%, 03/15/20 (A)		2,400		2,379
7.875%, 11/15/14		1,550		1,562
7.375%, 01/01/15		635		619
5.500%, 06/30/16		755		711


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Ineos Finance
9.000%, 05/15/15 (A)	$	3,555	$	3,595
Innophos
8.875%, 08/15/14		2,745		2,814
Intertape Polymer
8.500%, 08/01/14		835		705
LBI Escrow
8.000%, 11/01/17 (A)		6,005		6,448
Lyondell Chemical
11.000%, 05/01/18		4,427		4,809
MacDermid
9.500%, 04/15/17 (A)		2,045		2,073
Neenah Foundry
15.000%, 07/29/15		111		124
NewPage
11.375%, 12/31/14		4,740		3,851
Noranda Aluminium Acquisition
5.373%, 05/15/15 (C)		3,051		2,395
Novelis
7.250%, 02/15/15 (D)		2,715		2,722
P.H. Glatfelter
7.125%, 05/01/16		1,115		1,122
Packaging Dynamics Finance
10.000%, 05/01/16 (A)		1,165		1,069
PE Paper Escrow GmbH
12.000%, 08/01/14 (A)		590		666
PolyOne
8.875%, 05/01/12		670		712
Reichhold Industries
9.000%, 08/15/14 (A)		2,716		2,309
Ryerson
12.000%, 11/01/15		1,725		1,783
Scotts Miracle-Gro
7.250%, 01/15/18		385		396
Sealed Air
7.875%, 06/15/17		1,320		1,426
Solo Cup
8.500%, 02/15/14		1,230		1,039
Solutia
8.750%, 11/01/17		1,685		1,803
7.875%, 03/15/20		1,000		1,045
Standard Steel LLC
12.000%, 05/01/15 (A)		3,270		3,364
Steel Dynamics
7.750%, 04/15/16		1,100		1,133
7.625%, 03/15/20 (A)		905		928
Teck Resources
10.750%, 05/15/19		760		944
10.250%, 05/15/16		70		85
Verso Paper Holdings LLC
11.500%, 07/01/14		1,460		1,540
9.125%, 08/01/14		2,710		2,608
Verso Paper Holdings LLC, Ser B
11.375%, 08/01/16		1,080		864
Viskase
9.875%, 01/15/18 (A)		1,300		1,316

				122,881


Telecommunication Services — 11.2%
Aeroflex
11.750%, 02/15/15		1,650		1,763


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Affinion Group
11.500%, 10/15/15	$	1,640	$	1,724
10.125%, 10/15/13		1,500		1,537
10.125%, 10/15/13		2,525		2,582
Avaya
10.125%, 11/01/15		786		742
9.750%, 11/01/15		1,000		947
CCH II LLC
13.500%, 11/30/16		5,085		6,026
CCO Holdings LLC
8.125%, 04/30/20 (A)		1,941		2,043
7.875%, 04/30/18 (A)		1,535		1,589
Cengage Learning Acquisitions
10.500%, 01/15/15 (A)		1,420		1,356
Cequel Communications Holdings I LLC and Cequel Capital
8.625%, 11/15/17 (A)		4,870		4,967
Clear Channel Communications
10.750%, 08/01/16		765		564
Clearwire Communications LLC
12.000%, 12/01/15 (A)		5,875		5,890
12.000%, 12/01/15 (A)		4,540		4,540
Cleveland Unlimited
13.500%, 12/15/10 (A)(C)		4,260		4,047
Columbus International
11.500%, 11/20/14 (A)		1,465		1,611
Cricket Communications
10.000%, 07/15/15		1,175		1,231
Cricket Communications I
9.375%, 11/01/14		1,395		1,412
Crown Castle International
9.000%, 01/15/15		2,815		3,054
Deltacom
10.500%, 04/01/16		805		793
Digicel Group
12.000%, 04/01/14 (A)		600		686
10.500%, 04/15/18 (A)		1,495		1,603
9.125%, 01/15/15 (A)		300		303
8.875%, 01/15/15 (A)		900		907
8.250%, 09/01/17 (A)		1,620		1,683
DISH DBS
7.875%, 09/01/19		1,200		1,251
7.750%, 05/31/15		5,110		5,340
Frontier Communications
6.625%, 03/15/15		1,100		1,111
GCI
8.625%, 11/15/19		1,735		1,822
Global Crossings
12.000%, 09/15/15		1,615		1,793
GXS Worldwide
9.750%, 06/15/15 (A)		11,655		11,189
Inmarsat Finance
7.375%, 12/01/17 (A)		2,450		2,511
Integra Telecom Holdings
10.750%, 04/15/16 (A)		1,000		995
Intelsat
9.250%, 06/15/16		275		291
Intelsat Bermuda
11.250%, 06/15/16		3,980		4,283
Intelsat Jackson Holdings
9.500%, 06/15/16		1,300		1,386
8.500%, 11/01/19 (A)		1,830		1,935


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Intelsat Luxembourg
11.500%, 02/04/17	$	5,103	$	5,256
11.250%, 02/04/17		4,325		4,476
Intelsat Subsidiary Holding
8.875%, 01/15/15		2,025		2,091
8.875%, 01/15/15 (A)		2,035		2,091
iPCS PIK
3.594%, 05/01/14 (C)		2,236		2,080
Lamar Media
7.875%, 04/15/18 (A)		2,470		2,547
Level 3 Financing
4.140%, 02/15/15 (C)		100		75
Liberty Media LLC
8.250%, 02/01/30		2,240		2,128
Lucent Technologies
6.450%, 03/15/29		450		304
MetroPCS Wireless
9.250%, 11/01/14		2,420		2,517
Nexstar Broadcasting
8.875%, 04/15/17 (A)		1,840		1,870
Nextel Communications
6.875%, 10/31/13		1,991		1,986
Nielsen Finance LLC
12.500%, 08/01/11 (D)		4,425		4,386
11.500%, 05/01/16		345		387
NII Capital
10.000%, 08/15/16		3,150		3,532
Nordic Telephone Holdings
8.875%, 05/01/16 (A)		1,795		1,885
Orascom Telecom Finance
7.875%, 02/08/14 (A)		1,000		950
PAETEC Holding
9.500%, 07/15/15		3,316		3,308
8.875%, 06/30/17		1,300		1,345
Primus Telecommunications Holding
13.000%, 12/15/16 (A)		1,087		1,098
Quebecor Media
7.750%, 03/15/16		4,445		4,534
Qwest
7.500%, 06/15/23		710		724
7.250%, 09/15/25		375		388
7.250%, 10/15/35		1,200		1,179
6.875%, 09/15/33		275		270
Qwest Communications International
7.500%, 02/15/14		295		301
7.125%, 04/01/18 (A)		810		842
Qwest Communications
International, Ser B
7.500%, 02/15/14		1,970		2,007
Sable International Finance
7.750%, 02/15/17 (A)		640		659
SBA Telecommunications
8.250%, 08/15/19		435		472
8.000%, 08/15/16		305		325
Sinclair Television Group
9.250%, 11/01/17 (A)		1,005		1,035
Sitel LLC
11.500%, 04/01/18 (A)		1,180		885


Description	Face Amount ($Thousands)		Market Value ($ Thousands)

Sprint Capital
8.750%, 03/15/32	$	6,640	$	6,399
6.900%, 05/01/19		2,615		2,458
Telcordia Technologies
11.000%, 05/01/18 (A)		5,765		5,657
Telesat Canada
12.500%, 11/01/17		935		1,092
11.000%, 11/01/15		1,110		1,257
Trilogy International
10.250%, 08/15/16		785		714
TW Telecom
8.000%, 03/01/18		2,455		2,553
Univision Communications
12.000%, 07/01/14 (A)		43		47
UPC Holding BV
9.875%, 04/15/18 (A)		3,715		3,868
Videotron Ltee
9.125%, 04/15/18		1,045		1,160
Virgin Media Finance
9.500%, 08/15/16		750		840
8.375%, 10/15/19		2,050		2,234
Visant Holding
10.250%, 12/01/13 (D)		4,330		4,417
West
11.000%, 10/15/16		2,300		2,415
9.500%, 10/15/14		1,539		1,570
Wind Acquisition Finance
12.000%, 12/01/15 (A)		3,015		3,181
11.750%, 07/15/17 (A)		3,373		3,710
Wind Acquisition Holdings Finance
12.250%, 07/15/17 (A)		1,336		1,383
Windstream
8.625%, 08/01/16		2,260		2,345
8.125%, 09/01/18		505		514
XM Satellite Radio
11.250%, 06/15/13 (A)		2,130		2,322
XM Satellite Radio Holdings
13.000%, 08/01/13 (A)		5,095		5,770
Zayo Group LLC
10.250%, 03/15/17 (A)		1,220		1,269

				202,615


Utilities — 2.5%
AES
9.750%, 04/15/16		2,165		2,414
8.000%, 06/01/20		1,175		1,234
Calpine
7.875%, 07/31/20 (A)		3,503		3,512
Calpine Generating LLC
14.320%, 04/01/11 (B)(C)		1,500		191
Edison Mission Energy
7.625%, 05/15/27		1,400		885
Elwood Energy LLC
8.159%, 07/05/26		932		858
Energy Future Holdings
10.875%, 11/01/17		714		425
10.000%, 01/15/20 (A)		2,080		2,003
Ferrellgas Partners
6.750%, 05/01/14		1,500		1,508
Mirant Americas Generation LLC
8.500%, 10/01/21		1,750		1,579


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Mirant North America LLC
7.375%, 12/31/13	$	3,555	$	3,635
North American Energy Alliance LLC
10.875%, 06/01/16 (A)		1,300		1,404
NRG Energy
8.500%, 06/15/19		1,895		1,947
8.250%, 09/01/20		1,820		1,831
7.375%, 02/01/16		3,265		3,290
7.375%, 01/15/17		2,710		2,730
7.250%, 02/01/14		1,800		1,836
Public Service of New Mexico
7.950%, 05/15/18		2,800		3,073
Puget Sound Energy, Ser A
6.974%, 06/01/67 (C)		1,035		959
Sabine Pass LNG LP
7.500%, 11/30/16		6,070		5,380
7.500%, 11/30/16 (A)		620		549
Texas Competitive Electric
Holdings LLC
10.250%, 11/01/15		2,340		1,492
TXU
6.500%, 11/15/24		1,010		394
TXU, Ser P
5.550%, 11/15/14		855		430
TXU, Ser R
6.550%, 11/15/34		2,105		810

				44,369

Total Corporate Obligations (Cost $1,475,312) ($ Thousands)				1,533,068


LOAN PARTICIPATIONS — 5.8%
Advantage Sales
1.500%, 04/15/17		1,800		1,786
Affinion Group
7.757%, 03/01/12		445		427
Affinion Group Holdings
7.757%, 03/01/12		4,700		4,512
AL Gulf Coast Terminals
5.750%, 06/02/16		2,000		1,935
Allison Transmission
3.040%, 08/07/14		581		534
American General Finance
7.250%, 04/08/15		3,170		3,124
Asurion 2nd Lien
6.790%, 07/03/15		3,450		3,341
Aventi
0.000%, 10/15/49 (B)(F)(H)(I)		2,600		177
Awas Aviation
0.000%, 03/15/13(H)		600		564
Awas Finance
7.750%, 05/30/16		2,500		2,522
Boston Generating
7.533%, 12/20/16		176		1
4.783%, 06/20/14		650		53
CDW
4.276%, 10/12/14		674		603
2.276%, 10/12/14		319		286
Central Parking
0.438%, 05/22/14 (C)		616		512


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Central Parking 1st Lien Term Loan
2.813%, 05/22/14	$	1,719	$	1,444
CF Industries Term Loan B1
4.500%, 04/05/15		1,357		1,364
Chester Downs
12.375%, 12/31/49		637		639
CIT Group
6.250%, 08/11/15		2,488		2,479
0.000%, 01/20/12 (H)		510		523
Claire’s Stores
3.225%, 05/27/14		252		216
3.066%, 05/27/14		1,521		1,303
DAE Aviation Holdings Tranche B-1 Loan
4.230%, 07/31/14		277		251
DAE Aviation Holdings Tranche B-2 Loan
4.230%, 09/27/14		268		243
4.140%, 09/27/14		1		1
Dana
0.000%, 01/31/15(H)		50		49
Dex Media West LLC
9.250%, 06/30/11		655		563
Federal Mogul
2.238%, 12/28/15		90		79
2.238%, 12/29/14		1,164		1,016
2.217%, 12/29/14		72		63
2.207%, 12/29/14		144		126
2.207%, 12/28/15		614		535
First Data
3.079%, 09/24/14		2,080		1,775
3.066%, 09/24/14		119		101
3.014%, 09/24/14		181		154
Gambro Aktiebolag
5.186%, 11/24/16		1,040		733
5.119%, 12/05/15		922		770
Georgia Pacific
2.533%, 12/23/10		17		17
2.533%, 12/20/12		25		25
2.475%, 12/20/12		199		196
Green Valley Ranch Gaming
3.507%, 08/06/14 (B)		2,000		47
Guitar Center
3.770%, 10/09/13		2,086		1,835
3.720%, 10/09/13		1,000		880
Harrah’s Operating
9.500%, 01/28/15		2,985		3,040
3.533%, 01/28/15		12		11
3.498%, 01/28/15		1,575		1,345
Hexion Specialty Chemical, Ser C-1
2.813%, 05/05/13 (C)		1,394		1,331
Hexion Specialty Chemical, Ser C-2
2.813%, 05/05/13 (C)		513		490
Iasis Healthcare
5.725%, 06/13/14		3,513		3,318
Ineos US Finance LLC
8.000%, 12/16/14		1,665		1,648
7.500%, 12/16/13		1,456		1,442


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Infor Enterprise Solution
0.000%, 03/02/14 (H)	$	1,094	$	693
Infor Global Enterprise Solutions
6.510%, 03/02/14		210		133
Infor Global Enterprise Solutions Tranche 1
6.510%, 03/02/14		1,073		680
Infor Global Solutions
8.270%, 08/29/14		4,424		1,387
0.000%, 08/29/14 (H)		210		66
0.000%, 07/28/12 (H)		1,203		1,069
Infor Global Solutions Intermediate Holdings
6.566%, 03/02/14		2,217		1,404
Integra Telecom
9.250%, 04/07/15		270		270
Intelsat Jackson Holdings
3.026%, 02/01/14 (C)		2,400		2,142
Interactive Data Corp
6.750%, 01/29/17		3,600		3,620
Inventiv Health
6.750%, 05/07/16		1,500		1,495
Metroflag, 2nd Lien
14.000%, 01/06/09 (B)(F)		325		—
NCO Group
7.500%, 05/15/13		2,930		2,771
Nuveen Investments
12.500%, 11/09/14		810		871
12.500%, 07/31/15		725		779
Open Link Financial
10.250%, 11/06/15		2,750		2,874
OSI Restaurant Partners LLC
2.875%, 06/14/13		76		67
2.875%, 06/14/14		3,975		3,515
0.356%, 06/14/13		205		181
PQ
6.770%, 06/14/14		1,450		1,321
Proquest
6.020%, 02/09/15		1,200		1,152
Realogy
3.527%, 10/13/13		594		511
3.295%, 10/13/13		629		540
0.000%, 10/15/17		455		479
Realogy, Ser B
4.180%, 10/10/13		275		236
Rexnord
7.538%, 03/01/13		2,110		1,691
Reynold
6.250%, 11/05/15		1,441		1,434
Sabre
2.475%, 09/30/14		480		431
2.316%, 09/30/14		848		761
Shield Finance
7.750%, 06/15/16		3,000		2,888
Simmons Holdco, Unsecured Escrow
0.000%, 02/15/12 (H)		1,697		—
Styron
7.500%, 05/21/16		1,250		1,260
Targa Resources
5.265%, 02/09/15		1,972		1,676


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Telx
8.250%, 06/17/15	$	1,000	$	975
Texas Competitive Electric
4.066%, 10/10/14		3,392		2,570
4.033%, 10/10/14		54		42
3.795%, 10/10/14		4,256		3,226
3.793%, 10/10/14		2,370		1,796
Tronox
11.250%, 09/20/10		805		808
TXU
8.396%, 10/10/14		1,580		1,197
Vertafore
6.750%, 08/06/16		800		795
Wide Open West Finance
6.543%, 06/27/15		2,298		2,005
0.000%, 06/27/15 (H)		525		458
Zuffa
7.500%, 06/18/15		1,787		1,800

Total Loan Participations (Cost $105,223) ($ Thousands)				104,498


CASH EQUIVALENT — 3.3%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200%**†		58,689,909		58,690

Total Cash Equivalent (Cost $58,690) ($ Thousands)				58,690


COLLATERALIZED DEBT OBLIGATIONS — 1.9%
ACAS, Ser 2007-1A, Cl A1J
0.831%, 04/20/21 (A)(C)		3,800		2,907
Airplanes Pass Through Trust, Ser 2001-1A, Cl A9
5.749%, 03/15/19		1,200		672
CIFC Funding, Ser 2007-3A, Cl B
1.748%, 07/26/21 (A)(C)		2,700		1,399
CIT CLO, Ser 2007-1A, Cl E
5.539%, 06/20/21 (C)		926		370
CIT CLO, Ser 2007-1A, Cl D
2.539%, 06/20/21 (A)(C)		3,000		1,440
Connecticut Valley Structured Credit CDO, Ser 2006-3A, Cl NOTE
0.000%, 03/23/23 (A)		1,200		6
De Meer Middle Market CLO, Ser 2006-1A, Cl INC
0.000%, 10/20/18 (C)		3,167		950
Duane Street CLO, Ser 2007-5A, Cl SN
0.000%, 10/14/21		3,500		1,050
Emporia Preferred Funding, Ser 2007-3A, Cl C
1.406%, 04/23/21 (C)		2,024		1,275
FM Leveraged Capital, Ser 2006-2A, Cl D
2.045%, 11/15/20 (C)		915		458
FM Leveraged Capital, Ser 2006-2A, Cl B
0.846%, 11/15/20 (C)		4,163		2,914


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Gleneagles CLO, Ser AI
0.000%, 11/01/17 (C)	$	6	$	600
Peritus I CDO
0.000%, 12/19/07		3,000		600
Peritus I CDO, Ser 2005-1A, Cl C
9.000%, 05/24/15 (A)		10,013		6,509
Rockwall CDO, Ser 2006-1A, Cl A1LA
0.766%, 08/01/21 (A)(C)		6,837		5,094
Rockwall CDO, Ser 2007-1A
0.716%, 08/01/24		7,754		5,931
Stone Tower CDO, Ser 2004-1A, Cl A1LA
0.981%, 01/29/20 (A)(C)		1,862		1,527
Waterfront CLO, Ser 2007-1A, Cl A2
0.926%, 08/02/20 (A)(C)		413		310

Total Collateralized Debt Obligations (Cost $43,009) ($ Thousands)				34,012


ASSET-BACKED SECURITIES — 0.5%

Other Asset-Backed Securities — 0.5%
ACAS Business Loan Trust, Ser 2007-2A, Cl A
0.776%, 11/18/19 (C)		1,067		947
Applebee’s Enterprises LLC
6.427%, 12/20/37 (A)		3,937		3,793
Dominos Pizza Master Issuer LLC, Ser 2007-1, Cl A2
5.261%, 04/25/37		1,403		1,364
Grayson CLO, Ser 2006-1A, Cl A1B
0.826%, 11/01/21 (C)		3,684		2,394

Total Asset-Backed Securities (Cost $8,054) ($ Thousands)				8,498


CONVERTIBLE BONDS — 0.4%
Hologic
2.000%, 12/15/37		965		872
Leap Wireless International
4.500%, 07/15/14		703		612
Liberty Media LLC
4.000%, 11/15/29		1,610		916
3.750%, 02/15/30		565		313
Lions Gate Entertainment
2.938%, 10/15/24		1,555		1,514
Live Nation Entertainment
2.875%, 07/15/27		768		642
Mirant CV to 14.7167
0.000%, 06/15/21 (B)		1,950		4
Standard Pacific
6.000%, 10/01/12		1,070		1,063
Vector Group
5.750%, 06/15/26 (C)		410		480

Total Convertible Bonds (Cost $5,971) ($ Thousands)				6,416


Description	Shares		Market Value ($ Thousands)

PREFERRED STOCK — 0.4%
Ally Financial (A)		6	$	4,851
Axis Capital Holdings (C)		13		1,120
Dana *		6		363
Rockwall Investors *(A)(C)		3,000		270

Total Preferred Stock (Cost $7,649) ($ Thousands)				6,604


COMMON STOCK — 0.4%
Aventine Renewable Energy
Holdings *(F)(I)		57,685		1,731
Core-Mark Holding *		812		21
Dana Holdings *		67,821		696
Dex One *		42,145		359
LyondellBasell Industries, Cl B *		113,997		2,336
LyondellBasell Industries, Cl A *		105,198		2,156
Neenah Enterprises *		22		107
Quad, Cl A *		1		—
Solutia *		368		5
VSS AHC, Cl A *(F)(I)(J)		43,496		519

Total Common Stock (Cost $8,288) ($ Thousands)				7,930


AUCTION RATE PREFERRED

SECURITIES — 0.3%
BlackRock Insured Municipal Income Trust		14,500		1,204
BlackRock Municipal Income Trust		27,000		2,240
BlackRock MuniVest Fund II		9,250		768
BlackRock MuniYield Fund		11,750		975
BlackRock MuniYield New Jersey Fund		14,500		1,204

Total Auction Rate Preferred Securities (Cost $6,459) ($ Thousands)				6,391


WARRANT — 0.0%
Atrium, Expires 10/14/08 *(E)(F)		691		—

Total Warrant (Cost $0) ($ Thousands)				—


AFFILIATED PARTNERSHIP — 0.0%
SEI Liquidity Fund, L.P.,
0.820%**†(G)		6,416		6

Total Affiliated Partnership (Cost $6) ($ Thousands)				6

Total Investments — 98.0% †† (Cost $1,718,661)($ Thousands)			$	1,766,113

A summary of outstanding swap agreements help by the Fund at August 31, 2010, is as follows:

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
Corporate Obligation	$	—	$	1,521,713	$	11,355	$	1,533,068
Loan Participations		—		93,291		11,207		104,498
Cash Equivalent		58,690		—		—		58,690
Collateralized Debt Obligations		—		28		33,984		34,012
Asset-Backed Securities		—		5,530		2,968		8,498
Convertible Bonds		—		6,412		4		6,416
Preferred Stock		—		6,241		363		6,604
Common Stock		5,681		—		2,249		7,930
Auction Rate Preferred Securities		—		—		6,391		6,391
Affiliated Partnership		—		6		—		6
Warrant		—		—		—		—

Total Investments in Securities	$	64,371	$	1,633,221	$	68,521	$	1,766,113


Other Financial Instruments	Level 1		Level 2			Level 3		Total
Credit Default Swaps	$	—	$	(729	)	$	—	$	(729	)

Total Other Financial Instruments	$	—	$	(729	)	$	—	$	(729	)

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value ($ Thousands):


	Investments in Corporate Obligations			Investments in Collateralized Debt Obligation			Investments in Convertible Bonds
Beginning balance as of June 1, 2010	$	20,182		$	28,537		$	4
Accrued discounts/premiums		34			102			—
Realized gain/(loss)		(2,854	)		(249	)		—
Change in unrealized appreciation/(depreciation)		(423	)		1,222			—
Net purchases/sales		(881	)		4,372			—
Net transfer in and/or out of Level 3		(4,703	)		—			—

Ending balance as of August 31, 2010	$	11,355		$	33,984		$	4

Changes in unrealized gains/losses included in earnings related to securities still held at reporting date.	$	(423	)	$	(208	)	$	—


	Investments in Asset-Backed Securities		Investments in Common Stock			Investments in Loan Participations
Beginning balance as of June 1, 2010	$	2,579	$	3,007		$	15,914
Accrued discounts/premiums		—		—			35
Realized gain/(loss)		—		—			(1,117	)
Change in unrealized appreciation/ (depreciation)		389		(758	)		196
Net purchases/sales		—		—			971
Net transfer in and/or out of Level 3		—		—			(4,792	)

Ending balance as of August 31, 2010	$	2,968	$	2,249		$	11,207

Changes in unrealized gains/losses included in earnings related to securities still held at reporting date.	$	—	$	(758	)	$	43


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS — 66.7%

Consumer Discretionary — 5.2%
Comcast
6.450%, 03/15/37	$	13,705	$	15,605
6.400%, 05/15/38		2,127		2,416
6.400%, 03/01/40		4,389		5,008
Comcast Cable Communications Holdings
9.455%, 11/15/22		3,750		5,271
COX Communications
8.375%, 03/01/39(A)		5,975		8,333
6.950%, 06/01/38(A)		4,883		5,948
DirecTV Holdings
6.000%, 08/15/40		4,425		4,657
Historic TW
6.625%, 05/15/29		3,995		4,533
Lowe’s
7.110%, 05/15/37		1,402		1,843
5.800%, 04/15/40		4,000		4,650
McDonald’s
6.300%, 03/01/38		6,015		7,781
NBC Universal
6.400%, 04/30/40(A)		3,725		4,171
News America
8.150%, 10/17/36		2,355		3,022
7.850%, 03/01/39		6,275		8,296
6.900%, 08/15/39		2,775		3,325
6.750%, 01/09/38		2,260		2,605
6.650%, 11/15/37		4,855		5,624
6.150%, 03/01/37		1,945		2,132
TCI Communications
7.875%, 02/15/26		635		787
Time Warner
7.700%, 05/01/32		425		535
7.625%, 04/15/31		14,455		18,017
7.570%, 02/01/24		295		369
Time Warner Cable
8.750%, 02/14/19		6,730		8,841
8.250%, 04/01/19		3,075		3,944
7.300%, 07/01/38		4,765		5,888
6.750%, 06/15/39		3,650		4,285
Time Warner Entertainment
8.375%, 07/15/33		5,700		7,488
Yum! Brands
6.875%, 11/15/37		5,620		6,944

				152,318


Consumer Staples — 4.9%
Altria Group
10.200%, 02/06/39		10,950		15,828
Anheuser-Busch
6.450%, 09/01/37		945		1,125
Anheuser-Busch InBev Worldwide
8.200%, 01/15/39(A)		4,430		6,372
6.875%, 11/15/19(A)		6,000		7,416
6.375%, 01/15/40		6,295		7,710
CVS Caremark
6.125%, 09/15/39		14,825		16,650
Diageo Capital
5.875%, 09/30/36		2,653		3,135
Dr Pepper Snapple Group
6.820%, 05/01/18		2,000		2,463


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)
General Mills
5.400%, 06/15/40	$	1,090	$	1,234
HJ Heinz Finance
7.125%, 08/01/39(A)		8,060		10,309
Kraft Foods
6.875%, 02/01/38		11,385		14,038
6.500%, 02/09/40		8,550		10,142
Mead Johnson Nutrition
5.900%, 11/01/39		5,350		6,148
PepsiCo
5.500%, 01/15/40		4,215		4,903
Philip Morris International
6.375%, 05/16/38		1,705		2,146
President and Fellows of Harvard College
5.625%, 10/01/38		5,015		5,882
Ralcorp Holdings
6.625%, 08/15/39		6,000		6,521
Sara Lee
4.100%, 09/15/20(F)		1,235		1,242
Wal-Mart Stores
6.200%, 04/15/38		8,250		10,167
5.625%, 04/01/40		7,517		8,715

				142,146


Energy — 7.8%
Alta Wind Holdings
7.000%, 06/30/35		5,000		5,313
Apache
5.100%, 09/01/40		3,030		3,124
Canadian Natural Resources
6.250%, 03/15/38		3,000		3,427
Cenovus Energy
6.750%, 11/15/39		6,515		7,994
ConocoPhillips
6.500%, 02/01/39		18,055		23,020
5.900%, 05/15/38		6,380		7,615
Diamond Offshore Drilling
5.700%, 10/15/39		828		868
EnCana
6.500%, 02/01/38		3,625		4,229
EQT
8.125%, 06/01/19		8,455		10,389
Hess
6.000%, 01/15/40		4,544		4,979
5.600%, 02/15/41		4,865		5,047
Husky Energy
7.250%, 12/15/19		11,200		13,814
Marathon Oil
7.500%, 02/15/19		592		752
6.600%, 10/01/37		5,700		6,838
Motiva Enterprises LLC
6.850%, 01/15/40(A)		10,380		12,870
Noble Holding International
6.200%, 08/01/40		2,810		3,148
Panhandle Eastern Pipeline
8.125%, 06/01/19		2,900		3,506
7.000%, 06/15/18		700		797
Petrobras International Finance
6.875%, 01/20/40		4,950		5,461
Petro-Canada
6.800%, 05/15/38		3,725		4,479


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Shell International Finance BV
5.500%, 03/25/40	$	16,871	$	19,326
Spectra Energy Capital LLC
7.500%, 09/15/38		3,313		4,072
Statoil
5.100%, 08/17/40		6,300		6,793
Suncor Energy
6.850%, 06/01/39		3,675		4,457
Talisman Energy
7.750%, 06/01/19		3,075		3,880
Tennessee Gas Pipeline
8.375%, 06/15/32		2,655		3,290
Total Capital
4.450%, 06/24/20		6,570		7,193
TransCanada Pipelines
7.625%, 01/15/39		2,500		3,355
7.250%, 08/15/38		3,100		3,984
6.100%, 06/01/40		16,155		18,545
Valero Energy
6.625%, 06/15/37		7,655		7,755
6.125%, 02/01/20		3,007		3,281
Williams
7.875%, 09/01/21		1,592		1,933
7.750%, 06/15/31		1,394		1,620
Williams, Ser A
7.500%, 01/15/31		1,000		1,138
XTO Energy
6.100%, 04/01/36		8,315		10,715

				229,007


Financials — 24.4%
ACE INA Holdings
6.700%, 05/15/36		4,677		5,812
American Express
8.150%, 03/19/38		3,910		5,539
8.125%, 05/20/19		7,475		9,618
7.000%, 03/19/18		1,840		2,202
BAC Capital Trust VI
5.625%, 03/08/35		2,700		2,359
BAC Capital Trust XV
1.338%, 06/01/56 (B)		8,000		4,944
Bank of America
6.500%, 09/15/37		2,700		2,798
5.750%, 12/01/17		5,750		6,087
5.650%, 05/01/18		22,040		22,908
Bank of America, Ser A
8.070%, 12/31/26 (A)		5,095		5,197
Barclays Bank
5.125%, 01/08/20		5,150		5,475
Bear Stearns
7.250%, 02/01/18		8,768		10,631
6.400%, 10/02/17		9,175		10,667
Blackstone Holdings Finance LLC
6.625%, 08/15/19 (A)		5,523		5,881
BRE Properties
5.500%, 03/15/17 ‡		750		794
Capital One Capital VI
8.875%, 05/15/40		4,000		4,210
CDP Financial
5.600%, 11/25/39 (A)		15,585		17,760
Chase Capital II
0.966%, 02/01/27 (B)		4,984		3,784


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Chubb
6.500%, 05/15/38	$	8,725	$	10,729
Citigroup
8.125%, 07/15/39		5,410		6,732
6.875%, 03/05/38		25,320		27,421
6.875%, 02/15/98		1,400		1,330
5.875%, 05/29/37		6,551		6,533
5.500%, 02/15/17		9,005		9,252
City National Capital Trust I
9.625%, 02/01/40		4,500		4,738
Commonwealth Bank of Australia
5.000%, 10/15/19 (A)		4,250		4,589
Credit Suisse NY
6.000%, 02/15/18		7,600		8,286
Deutsche Bank Capital Funding Trust
5.628%, 01/19/49 (A)(B)		3,195		2,652
Discover Bank
8.700%, 11/18/19		5,750		6,790
ERP Operating
5.750%, 06/15/17 ‡		6,250		7,056
Farmers Exchange Capital
7.050%, 07/15/28 (A)		17,515		17,445
First Union
7.575%, 08/01/26 (C)		4,920		5,954
First Union Institutional Capital I
8.040%, 12/01/26		1,250		1,280
FleetBoston Financial
6.875%, 01/15/28		3,250		3,505
FMR
6.500%, 12/14/40		1,000		1,042
General Electric Capital MTN
6.875%, 01/10/39		30,590		35,804
6.150%, 08/07/37		8,775		9,327
5.875%, 01/14/38		17,117		17,600
Goldman Sachs Group
7.500%, 02/15/19		4,174		4,868
6.750%, 10/01/37		36,295		37,068
6.150%, 04/01/18		1,400		1,529
5.375%, 03/15/20		2,560		2,642
0.604%, 02/06/12 (B)		5,000		4,966
Guardian Life Insurance of America
7.375%, 09/30/39 (A)		13,635		16,493
HBOS
6.750%, 05/21/18 (A)		3,700		3,617
HCP MTN
6.700%, 01/30/18 ‡		2,295		2,522
6.300%, 09/15/16 ‡		2,255		2,425
Health Care REIT
6.125%, 04/15/20 ‡		3,050		3,326
5.875%, 05/15/15 ‡		7,725		8,527
HSBC Holdings
6.500%, 09/15/37		8,275		9,535
International Lease Finance
7.125%, 09/01/18		1,500		1,534
6.750%, 09/01/16		3,700		3,783
Jefferies Group
6.875%, 04/15/21		4,007		4,256


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

JPMorgan Chase
6.400%, 05/15/38	$	4,807	$	5,818
6.300%, 04/23/19		3,775		4,338
6.000%, 10/01/17		4,170		4,704
6.000%, 01/15/18		2,671		3,033
JPMorgan Chase Capital XXVII
7.000%, 11/01/39		5,250		5,566
LBG Capital No. 1 MTN
8.000%, 12/15/49 (B)		2,800		2,450
Lloyds TSB Bank MTN
5.800%, 01/13/20 (A)		2,610		2,690
Macquarie Group
6.000%, 01/14/20 (A)		6,380		6,702
Massachusetts Mutual Life Insurance
8.875%, 06/01/39 (A)		12,320		17,497
MBNA Capital, Ser B
1.266%, 02/01/27 (B)		2,151		1,483
Merrill Lynch
8.950%, 05/18/17 (B)		1,340		1,394
8.680%, 05/02/17 (B)		1,305		1,351
7.750%, 05/14/38		3,340		3,812
6.110%, 01/29/37		5,925		5,726
MetLife
7.717%, 02/15/19		8,100		10,155
5.875%, 02/06/41		2,930		3,196
Metropolitan Life Insurance
7.800%, 11/01/25 (A)		4,700		5,516
Moody’s
5.500%, 09/01/20		4,185		4,263
Morgan Stanley
7.300%, 05/13/19		6,445		7,325
6.625%, 04/01/18		10,760		11,824
5.625%, 09/23/19		15,625		15,901
5.500%, 01/26/20		4,218		4,271
NASDAQ OMX Group
5.550%, 01/15/20		1,442		1,525
Nationwide Mutual Insurance
6.600%, 04/15/34 (A)		12,040		11,135
New York Life Insurance
6.750%, 11/15/39 (A)		18,475		23,545
Northwestern Mutual Life Insurance
6.063%, 03/30/40 (A)		8,790		10,370
Pacific Life Insurance
9.250%, 06/15/39 (A)		4,245		5,460
PNC Funding
6.700%, 06/10/19		3,235		3,852
5.125%, 02/08/20		8,475		9,145
Power Receivables Finance
6.290%, 01/01/12 (A)		553		554
Prudential Financial MTN
6.625%, 06/21/40		1,000		1,156
5.700%, 12/14/36		4,845		4,951
Prudential Holdings LLC
8.695%, 12/18/23 (A)		7,700		9,816
Prudential Insurance of America
8.300%, 07/01/25 (A)		5,500		6,931
Raymond James Financial
8.600%, 08/15/19		1,655		1,990
Security Benefit Life
7.450%, 10/01/33 (A)		4,000		3,300


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Simon Property Group
10.350%, 04/01/19 ‡	$	1,995	$	2,802
6.750%, 02/01/40 ‡		5,791		6,897
6.125%, 05/30/18 ‡		1,965		2,284
Teachers Insurance & Annuity Association of America
6.850%, 12/16/39 (A)		9,430		11,806
Wachovia
6.605%, 10/01/25		3,100		3,408
0.815%, 10/28/15 (B)		1,590		1,455
Wachovia Bank
6.600%, 01/15/38		10,865		12,314
5.850%, 02/01/37		6,545		6,798
WEA Finance LLC
7.125%, 04/15/18 (A)		4,513		5,359
6.750%, 09/02/19 (A)		2,780		3,252
Westpac Banking
4.875%, 11/19/19		5,035		5,360
ZFS Finance USA Trust I
5.875%, 05/09/32 (A)(B)		5,000		4,477
ZFS Finance USA Trust II
6.450%, 12/15/65 (A)(B)		3,650		3,358

				714,137


Health Care — 5.3%
Abbott Laboratories
6.000%, 04/01/39		2,820		3,429
5.300%, 05/27/40		8,302		9,195
Aetna
6.750%, 12/15/37		3,400		4,091
Amgen
6.400%, 02/01/39		3,685		4,641
5.750%, 03/15/40		5,055		5,934
AstraZeneca
6.450%, 09/15/37		6,625		8,492
Baxter International
6.250%, 12/01/37		4,525		5,645
Boston Scientific
7.375%, 01/15/40		1,425		1,620
6.000%, 01/15/20		3,760		3,972
Bristol-Myers Squibb
6.125%, 05/01/38		6,775		8,333
CIGNA
8.500%, 05/01/19		5,825		7,573
Merck
5.850%, 06/30/39		7,370		9,050
Pfizer
7.200%, 03/15/39		17,205		24,028
Roche Holdings
7.000%, 03/01/39 (A)		13,150		18,028
UnitedHealth Group
6.625%, 11/15/37		8,855		10,363
6.500%, 06/15/37		4,100		4,754
5.800%, 03/15/36		5,000		5,340
Wellpoint
6.375%, 06/15/37		2,550		2,872
5.800%, 08/15/40		1,600		1,710
Wyeth
5.950%, 04/01/37		8,270		9,957
Zimmer Holdings
5.750%, 11/30/39		5,297		5,992

				155,019


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Industrials — 3.9%
American Airlines Pass-Through Trust, Ser 2009-1A
10.375%, 07/02/19	$	572	$	652
Boeing
5.875%, 02/15/40		4,975		5,965
Burlington Northern Santa Fe LLC
6.200%, 08/15/36		5,100		5,992
5.750%, 05/01/40		2,460		2,764
5.650%, 05/01/17		2,830		3,259
Canadian National Railway
6.900%, 07/15/28		1,000		1,283
Caterpillar
6.050%, 08/15/36		3,430		4,245
Continental Airlines
9.000%, 07/08/16		6,261		6,950
5.983%, 04/19/22		7,048		7,217
Delta Air Lines
7.750%, 12/17/19		1,442		1,557
6.200%, 07/02/18		2,500		2,569
Delta Air Lines, Ser 2001-1, Cl A-2
7.111%, 09/18/11		6,700		7,002
Lockheed Martin
5.720%, 06/01/40 (A)		3,182		3,716
5.500%, 11/15/39		3,560		3,998
Meccanica Holdings USA
7.375%, 07/15/39 (A)		5,570		6,374
6.250%, 01/15/40 (A)		4,315		4,352
Norfolk Southern
6.000%, 03/15/05		5,503		5,791
5.900%, 06/15/19		4,395		5,219
Union Pacific
6.625%, 02/01/29		1,941		2,347
6.125%, 02/15/20		2,000		2,414
5.780%, 07/15/40		5,134		5,865
United Parcel Service
6.200%, 01/15/38		6,470		8,083
United Technologies
5.700%, 04/15/40		8,800		10,362
Waste Management
6.125%, 11/30/39		4,240		4,833

				112,809


Information Technology — 1.9%
Cisco Systems
5.900%, 02/15/39		2,450		2,874
5.500%, 01/15/40		18,275		20,433
International Business Machines
5.600%, 11/30/39		7,216		8,526
Oracle
6.500%, 04/15/38		6,200		7,814
6.125%, 07/08/39		6,290		7,595
5.375%, 07/15/40 (A)		8,735		9,469

				56,711


Materials — 0.8%
ArcelorMittal
7.000%, 10/15/39		8,055		8,262
Dow Chemical
9.400%, 05/15/39		3,070		4,358
8.550%, 05/15/19		2,605		3,265


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

Southern Copper
7.500%, 07/27/35	$	4,999	$	5,793
6.750%, 04/16/40		650		702

				22,380


Sovereign — 0.2%
Province of Quebec
6.350%, 01/30/26		4,880		6,399


Telecommunication Services — 3.6%
AT&T
6.550%, 02/15/39		6,075		7,199
6.300%, 01/15/38		20,835		23,875
Bellsouth Capital Funding
7.120%, 07/15/97		3,485		4,128
BellSouth Telecommunications
7.000%, 12/01/95		4,317		4,922
British Telecommunications
9.625%, 12/15/30 (C)		3,170		4,350
Telecom Italia Capital
7.721%, 06/04/38		7,275		8,169
7.175%, 06/18/19		5,375		6,194
Telefonica Emisiones
7.045%, 06/20/36		1,815		2,183
Verizon Communications
8.950%, 03/01/39		2,650		3,948
7.350%, 04/01/39		15,585		20,302
6.400%, 02/15/38		11,502		13,507
Vodafone Group
6.150%, 02/27/37		6,840		7,861

				106,638


Utilities — 8.7%
Appalachian Power
7.950%, 01/15/20		4,160		5,433
Arizona Public Service
8.750%, 03/01/19		5,025		6,569
Cedar Brakes II LLC
9.875%, 09/01/13 (A)		1,068		1,118
Consolidated Edison of New York
6.750%, 04/01/38		3,845		4,960
6.200%, 06/15/36		2,225		2,670
5.500%, 12/01/39		2,165		2,389
Coso Geothermal Power Holdings
7.000%, 07/15/26 (A)		3,946		3,831
Dominion Resources
5.250%, 08/01/33		2,500		2,799
Duke Energy Carolinas LLC
6.100%, 06/01/37		5,000		5,986
5.300%, 02/15/40		5,585		6,256
EDF
5.600%, 01/27/40 (A)		4,225		4,623
Enel Finance International
6.000%, 10/07/39 (A)		8,035		8,106
Entergy Texas
7.125%, 02/01/19		11,750		14,366
Exelon Generation LLC
6.250%, 10/01/39		4,480		5,010
FirstEnergy, Ser C
7.375%, 11/15/31		2,500		2,770
Florida Power & Light
5.960%, 04/01/39		3,225		3,915
5.400%, 09/01/35		710		796


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

FPL Group Capital
6.000%, 03/01/19	$	4,000	$	4,694
Georgia Power
5.950%, 02/01/39		3,850		4,549
5.400%, 06/01/40		15,585		16,965
Iberdrola Finance Ireland
5.000%, 09/11/19 (A)		3,700		3,706
Kansas City Power & Light
7.150%, 04/01/19		10,930		13,562
KCP&L Greater Missouri Operations
8.270%, 11/15/21		5,100		5,997
Metropolitan Edison
7.700%, 01/15/19		2,500		3,126
Midamerican Energy Holdings
6.500%, 09/15/37		19,440		23,621
Nisource Finance
10.750%, 03/15/16		5,575		7,305
6.125%, 03/01/22		1,767		1,972
Oncor Electric Delivery
7.500%, 09/01/38		3,200		4,230
Pacific Gas & Electric
6.250%, 03/01/39		4,500		5,479
6.050%, 03/01/34		4,100		4,827
5.800%, 03/01/37		648		746
PacifiCorp
5.750%, 04/01/37		615		719
Pennsylvania Electric
6.150%, 10/01/38		5,095		5,736
Progress Energy
7.050%, 03/15/19		4,500		5,565
San Diego Gas & Electric
5.350%, 05/15/40		1,350		1,548
Southern California Edison
6.050%, 03/15/39		7,050		8,685
Southern Union
8.250%, 11/15/29		8,375		9,881
Southwestern Electric Power
6.450%, 01/15/19		6,000		6,817
6.200%, 03/15/40		6,680		7,322
Texas-New Mexico Power
9.500%, 04/01/19 (A)		8,560		11,341
Union Electric
8.450%, 03/15/39		3,000		4,511
Virginia Electric and Power
8.875%, 11/15/38		5,500		8,433

				252,934

Total Corporate Obligations (Cost $1,688,078) ($ Thousands)				1,950,498


U.S. TREASURY OBLIGATIONS — 22.6%
U.S. Treasury Bills
0.181%, 02/10/11 (D)(E)		3,915		3,912

U.S. Treasury Bonds
7.625%, 02/15/25		42,215		65,499
6.250%, 08/15/23		9,700		13,248
4.375%, 11/15/39		71,750		82,669
4.375%, 05/15/40		66,625		76,869
4.250%, 05/15/39		250,151		282,553
3.875%, 08/15/40		15,465		16,439
3.625%, 02/15/20		18,590		20,459

				557,736


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

U.S. Treasury Note
2.625%, 08/15/20	$	5,120	$	5,186

U.S. Treasury STRIPS
4.552%, 11/15/21 (D)		69,265		49,784
4.172%, 02/15/23 (D)		62,905		42,777

				92,561

Total U.S. Treasury Obligations (Cost $582,204) ($ Thousands)				659,395


U.S. GOVERNMENT AGENCY OBLIGATIONS — 5.3%
FHLMC
0.320%, 11/07/11		6,025		6,027
0.270%, 05/11/12		5,710		5,705
0.178%, 10/13/10 (D)		91,685		91,672
FICO STRIPS
4.928%, 09/26/19 (D)		12,145		9,136
4.471%, 03/26/19 (D)		12,000		9,271
FICO STRIPS, PO
3.470%, 03/07/19 (D)		5,395		4,192
3.170%, 08/03/18 (D)		23,300		18,832
2.721%, 12/27/18 (D)		4,130		3,253
2.700%, 12/06/18 (D)		1,800		1,424
Resolution Funding STRIPS
3.794%, 10/15/17 (D)		6,445		5,410

Total U.S. Government Agency Obligations (Cost $148,010) ($ Thousands)				154,922


MUNICIPAL BONDS — 2.8%
Bay Area, Toll Authority, Build America Project, RB
6.263%, 04/01/49		5,000		5,677
Dallas County Hospital District, Build America Project, Ser C, GO
5.621%, 08/15/44		4,993		5,714
Indianapolis Local Public Improvement Bond Bank, Build America Project, RB
6.116%, 01/15/40		4,255		4,862
Los Angeles, Department of Water & Power, Build America Project, RB
6.008%, 07/01/39		5,000		5,503
New York City Municipal Water Finance Authority, Build America Project, RB
5.724%, 06/15/42		1,250		1,402
New York City Municipal Water Finance Authority, Build America Project, RB
6.491%, 06/15/42		6,630		7,104
North Texas Tollway Authority, RB
6.718%, 01/01/49		5,432		5,939
State of California, Build America Project, GO
7.550%, 04/01/39		8,000		9,087
7.300%, 10/01/39		1,500		1,651


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

State of Illinois, Build America Project, GO
7.350%, 07/01/35	$	3,710	$	4,000
6.630%, 02/01/35		3,275		3,251
State of Illinois, GO
5.100%, 06/01/33		6,810		5,770
State of New York, Urban Development Authority, Build America Project, RB
5.770%, 03/15/39		2,740		2,976
State of Texas, Transportation Communication Authority, Ser B, RB
5.178%, 04/01/30		6,835		7,518
State of Virginia, University of Virginia, Build America Project, RB
5.000%, 09/01/40		7,255		7,842
State of Washington, Build America Project, Ser D, GO
5.481%, 08/01/39		2,455		2,681

Total Municipal Bonds (Cost $75,074) ($ Thousands)				80,977


ASSET-BACKED SECURITIES — 0.6%

Mortgage Related Securities — 0.2%
Bayview Financial Acquisition Trust, Ser 2005-A, Cl A1
1.260%, 02/28/40 (A)(B)		3,720		1,711
Citigroup Mortgage Loan Trust, Ser 2006-AMC1, Cl A2B
0.424%, 09/25/36 (B)		9,432		4,171
Indymac Home Equity Loan Asset-Backed Trust, Ser 2002- A, Cl M1
1.389%, 05/25/33 (B)		494		315

				6,197


Other Asset-Backed Securities — 0.4%
GE Seaco Finance Srl, Ser 2005- 1A, Cl A
0.522%, 11/17/20 (A)(B)		5,775		5,443
Triton Container Finance LLC, Ser 2006-1A, Cl NOTE
0.432%, 11/26/21 (A)(B)		3,067		2,755
Triton Container Finance LLC, Ser 2007-1A, Cl NOTE
0.402%, 02/26/19 (A)(B)		1,969		1,819

				10,017

Total Asset-Backed Securities (Cost $17,858) ($ Thousands)				16,214


MORTGAGE-BACKED SECURITIES — 0.3%

Agency Mortgage-Backed Obligations — 0.1%
FHLMC CMO, Ser 2748, Cl ZT
5.500%, 02/15/24		539		626
FNMA CMO, Ser 2004-12, Cl ZX
6.000%, 03/25/34		708		802
FNMA CMO, Ser 2004-80, Cl XZ
5.000%, 11/25/34		414		461


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

GNMA ARM
3.375%, 06/20/32 (B)	$	176	$	181

				2,070


Non-Agency Mortgage-Backed Obligations — 0.2%
American Home Mortgage Investment Trust, Ser 2007-2, Cl 11A1
0.494%, 03/25/47 (B)		1,698		864
Bayview Commercial Asset Trust, Ser 2007-3, Cl A1
0.504%, 07/25/37 (A)(B)		2,096		1,600
Countrywide Alternative Loan Trust, Ser 2005-16, Cl A5
0.544%, 06/25/35 (B)(C)		441		152
Countrywide Home Loans, Ser 2006-2, Cl 1A1
0.584%, 03/25/35 (B)		210		122
Credit Suisse Mortgage Capital Certificates, Ser 2006-C5, Cl A3
5.311%, 12/15/39		2,505		2,581
DSLA Mortgage Loan Trust, Ser 2005-AR2, Cl 2A1A
0.477%, 03/19/45 (B)(C)		311		185
Harborview Mortgage Loan Trust, Ser 2004-8, Cl 2A4A
0.667%, 11/19/34 (B)		385		269
Harborview Mortgage Loan Trust, Ser 2005-11, Cl 2A1A
0.577%, 08/19/45 (B)(C)		550		354
Indymac Index Mortgage Loan Trust, Ser 2004-AR12, Cl A1
0.654%, 12/25/34 (B)		187		112
Indymac Index Mortgage Loan Trust, Ser 2004-AR5, Cl 2A1B
1.064%, 08/25/34 (B)		113		71
Indymac Index Mortgage Loan Trust, Ser 2004-AR7, Cl A2
1.124%, 09/25/34 (B)		45		29
Indymac Index Mortgage Loan Trust, Ser 2005-AR18, Cl 2A1A
0.574%, 10/25/36 (B)		22		14
JPMorgan Chase Commercial Mortgage Securities, Ser 2006- LDP7, Cl A4
5.874%, 04/15/45 (B)		535		588
Washington Mutual Mortgage Pass-Through Certificates, Ser 2000-1, Cl M2
1.564%, 01/25/40 (B)		79		75
Washington Mutual Mortgage Pass-Through Certificates, Ser 2005-AR2, Cl 2A21
0.594%, 01/25/45 (B)		290		228
Washington Mutual Mortgage Pass-Through Certificates, Ser 2007-OA3, Cl 4A1
1.172%, 04/25/47 (B)		235		131

				7,375

Total Mortgage-Backed Securities (Cost $10,633) ($ Thousands)				9,445


Description	Shares		Market Value ($ Thousands)
CASH EQUIVALENT — 0.9%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200% *†		27,610,883	$	27,611

Total Cash Equivalent (Cost $27,611) ($ Thousands)				27,611

Total Investments — 99.2% (Cost $2,549,468)($ Thousands)††			$	2,899,062

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)			Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
U.S. 10-Year Treasury Note		(446	)		Dec-2010	$	(399	)
U.S. Long Treasury Bond		142			Dec-2010		342
U.S. Ultra Long Treasury Bond		1094			Jan-2011		4,647
U.S. Ultra Long Treasury Bond		51			Oct-2010		918

						$	5,508

A summary of outstanding swap agreement held by the Fund at August 31, 2010, is as follows:

registration under Section 144A of the Securities Act of 1933, as amended, and may

be sold only to dealers in that program or other “accredited investors.” These

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2			Level 3		Total
Corporate Obligations	$	—	$	1,950,498		$	—	$	1,950,498
U.S. Treasury Obligations		—		659,395			—		659,395
U.S. Government Agency Obligations		—		154,922			—		154,922
Municipal Bonds		—		80,977			—		80,977
Asset-Backed Securities		—		16,214			—		16,214
Mortgage-Backed Securities		—		9,445			—		9,445
Cash Equivalent		27,611		—			—		27,611

Total Investments in Securities	$	27,611	$	2,871,451		$	—	$	2,899,062


Other Financial Instruments	Level 1		Level 2			Level 3		Total
Futures Contracts *	$	5,508	$	—		$	—	$	5,508
Credit Default Swap		—		(455	)		—		(455	)

Total Other Financial Instruments	$	5,508	$	(455	)	$	—	$	5,053

Futures contracts are valued at the unrealized appreciation on the instrument.

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

Amounts designated as “—” are $O or have been rounded to $O.

A Fund enters into credit default swaps to simulate long and short bond positions that are either unavailable or considered to be less attractively priced in the bond market. A Fund uses these swaps to reduce risk where a Fund has exposure to the issuer, or to take an active long or short position with respect to the likelihood of an event of default. The reference obligation of the swap can be a single issuer, a “basket” of issuers, or an index. The underlying referenced assets are corporate debt, sovereign debt and asset backed securities.

If a Fund is a seller of protection, and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will generally either (i) pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising a referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising a referenced index.

If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are assumed by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

Certain Funds are party to International Swap Dealers Association, Inc. Master Agreements (“ISDA Master Agreements”). These agreements are with select counterparties and they govern transactions, including certain over-the counter derivative and foreign exchange contracts, entered into by the Funds and the counterparty. The ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of termination may give a counterparty the right to terminate all of its contracts and affect settlement of all outstanding transactions under the applicable ISDA Master Agreement.

As of August 31, 2010, the Fund is the buyer (“receiving protection”) on a total notional amount of $0.0 million) and is the seller (“providing protection”) on a total notional amount of $1.2 million. The notional amounts of the swaps are not recorded in the financial statements; however the notional amount does approximate the maximum potential amount of future payments that the Fund could be required to make if the Fund were the seller of protection and a credit event were to occur. Those credit default swaps for which the Fund is providing protection at balance sheet date are summarized as follows:

The credit spread disclosed above for each reference obligation where the Fund is the seller of protection is a representation of the current payment/performance risk of the swap.


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

GLOBAL BONDS — 94.5%

Argentina — 3.8%
IRSA
11.500%, 07/20/20			976	$	1,020
Provincia de Buenos Aires
9.625%, 04/18/28			635		495
9.625%, 04/18/28 (A)			1,460		1,139
9.375%, 09/14/18			1,000		808
Provincia de Mendoza Argentina
5.500%, 09/04/18			307		248
Provincia de Neuquen Argentina
8.656%, 10/18/14 (A)			145		151
Republic of Argentina
8.750%, 06/02/17			2,825		2,550
8.280%, 12/31/33			5,615		4,309
7.820%, 12/31/33	EUR		4,142		3,500
7.820%, 12/31/33			1,908		1,613
7.000%, 10/03/15			100		87
7.000%, 10/03/15			7,147		6,011
6.000%, 03/31/23 (G)			172		117
5.830%, 12/31/33 (B)	ARS		1,810		614
5.450%, 12/31/33			6,467		5,497
3.158%, 12/15/35 (B)			2,905		279
3.117%, 12/15/35 (B)			14,345		1,435
2.500%, 03/31/19 (C)			7,470		2,835
0.943%, 08/03/12 (B)			11,510		2,613
0.000%, 03/31/23 (B)(G)			1,680		924
0.000%, 12/15/35			16,606		1,762
Transportadora Gas Norte
7.500%, 12/31/12 (C)(G)			100		50
7.500%, 12/31/12 (A)(C)(G)			210		105
7.500%, 12/31/12 (G)			350		175
6.500%, 12/31/12 (A)(C)(G)			30		15
6.500%, 12/31/12 (C)(G)			60		30
6.500%, 12/31/12 (C)(G)			60		30

					38,412


Bahrain — 0.2%
Kingdom of Bahrain
5.500%, 03/31/20 (A)			1,444		1,518


Barbados — 0.3%
Columbus International
11.500%, 11/20/14 (A)			2,000		2,200
11.500%, 11/20/14			500		554
Government of Barbados
7.000%, 08/04/22			350		364

					3,118


Belize — 0.0%
Government of Belize
6.000%, 02/20/29			330		277


Bosnia and Herzegovina — 0.1%
Republic of Bosnia & Herzegovina
10.039%, 12/11/21 (B)	DEM		1,917		909


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

Brazil — 9.2%
Banco Bradesco
5.900%, 01/16/21 (D)			1,605	$	1,627
Banco Nacional de Desenvolvimento Economico e Social
6.500%, 06/10/19 (A)			2,405		2,766
5.500%, 07/12/20 (A)			500		539
Banco Votorantim
7.375%, 01/21/20 (A)			840		901
BM&F Bovespa
5.500%, 07/16/20			3,025		3,219
Brazil Notas do Tesouro Nacional, Ser F
10.000%, 01/01/21	BRL		61,190		31,790
10.000%, 01/01/17	BRL		3,300		1,791
CSN Resources
6.500%, 07/21/20			1,510		1,574
Federal Republic of Brazil
12.250%, 03/06/30			195		366
11.000%, 08/17/40			1,670		2,289
10.125%, 05/15/27			2,302		3,654
8.875%, 04/15/24			3,560		5,091
8.750%, 02/04/25			2,458		3,503
8.250%, 01/20/34			5,545		7,943
7.125%, 01/20/37			2,275		2,946
6.000%, 01/17/17			1,436		1,655
5.875%, 01/15/19			2,079		2,401
5.625%, 01/07/41			1,700		1,836
4.875%, 01/22/21			4,240		4,547
Fibria Overseas Finance
7.500%, 05/04/20 (A)			1,597		1,649
JBS Finance
8.250%, 01/29/18			500		512
8.250%, 01/29/18			2,110		2,171
Minerva Overseas
10.875%, 11/15/19			363		386
10.875%, 11/15/19			630		669
Petrobras International Finance
7.875%, 03/15/19			1,408		1,724
Rearden G Holdings
7.875%, 03/30/20 (A)			207		218
Voto-Votorantim
6.750%, 04/05/21 (A)			1,291		1,375
Voto-Votorantim Overseas Trading Operations
6.625%, 09/25/19 (A)			600		640

					89,782


Chile — 0.5%
Empresa Nacional del Petroleo
6.250%, 07/08/19 (A)			1,300		1,416
5.250%, 08/10/20			600		614
Nacional del Cobre de Chile
7.500%, 01/15/19			450		574
6.150%, 10/24/36 (A)			905		1,088
6.150%, 10/24/36			857		1,031

					4,723


China — 0.3%
China Oriental Group
8.000%, 08/18/15 (D)			2,251		2,302


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

Evergrande
13.000%, 01/27/15			176	$	175
13.000%, 01/27/15			922		920

					3,397


Colombia — 4.6%
Ecopetrol
7.625%, 07/23/19 (A)			600		715
Republic of Colombia
11.750%, 02/25/20			2,058		3,190
10.375%, 01/28/33			300		476
9.850%, 06/28/27	COP		1,224,000		927
8.375%, 02/15/27			3,100		3,828
8.125%, 05/21/24			2,930		3,882
7.375%, 09/18/37			8,255		10,690
7.375%, 01/27/17			3,545		4,272
7.375%, 03/18/19			4,240		5,268
6.125%, 01/18/41			2,175		2,431
Santa Fe de Bogota
9.750%, 07/26/28 (A)	COP		12,618,000		9,156

					44,835


Croatia — 0.9%
Republic of Croatia
6.750%, 11/05/19 (A)			200		223
6.750%, 11/05/19			652		718
6.625%, 07/14/20 (D)			5,437		6,016
Zagrebacki Holding D.O.O.
5.500%, 07/10/17	EUR		1,500		1,594

					8,551


Czech Republic — 0.1%
Central European Media Enterprises
11.625%, 09/15/16 (A)	EUR		600		740


Dominican Republic — 0.2%
Cap Cana
10.000%, 04/30/16			330		165
10.000%, 04/30/16			300		222
Republic of Dominican Republic
9.040%, 01/23/18			27		32
7.500%, 05/06/21 (A)			1,130		1,243

					1,662


Ecuador — 0.1%
Republic of Ecuador
9.375%, 12/15/15			750		675


Egypt — 0.2%
Arab Republic of Egypt
5.750%, 04/29/20 (A)			1,933		2,121
Orascom Telecom Finance
7.875%, 02/08/14			292		54

					2,175


Description	Face Amount(1) (Thousands)		Market Value ($ Thousands)

El Salvador — 0.9%
Republic of El Salvador
8.250%, 04/10/32		3,460	$	3,945
7.650%, 06/15/35		3,544		3,863
7.375%, 12/01/19		200		221
7.375%, 12/01/19 (A)		350		389

				8,418


Georgia — 0.5%
BG Finance for JSC Bank of Georgia
9.000%, 02/08/12		2,500		2,475
Republic of Georgia
7.500%, 04/15/13		2,800		2,771

				5,246


Ghana — 0.2%
Republic of Ghana
8.500%, 10/04/17 (A)		600		675
8.500%, 10/04/17		1,250		1,425

				2,100


Hong Kong — 0.3%
Bank of China Hong Kong
5.550%, 02/11/20 (A)		2,450		2,558


Hungary — 0.2%
Republic of Hungary
6.250%, 01/29/20		2,157		2,220


India — 0.2%
Indian Oil
4.750%, 01/22/15		550		580
State Bank of India
4.500%, 07/27/15		800		827
Vedanta Resources
9.500%, 07/18/18 (A)		568		597

				2,004


Indonesia — 7.2%
Adaro Indonesia
7.625%, 10/22/19		380		406
Bumi Capital
12.000%, 11/10/16		144		150
Indo Integrated Energy
9.750%, 11/05/16		395		437
Indosat Palapa
7.375%, 07/29/20		1,270		1,368
Majapahit Holding
8.000%, 08/07/19 (A)		1,050		1,276
7.875%, 06/29/37 (A)		415		510
7.750%, 01/20/20 (A)		1,650		1,972
7.750%, 10/17/16		1,050		1,234
7.250%, 10/17/11 (A)		885		929


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

Republic of Indonesia
12.800%, 06/17/21	IDR		46,100,000	$	6,720
11.625%, 03/04/19 (A)			3,900		5,948
11.625%, 03/04/19			1,566		2,388
11.500%, 09/15/19	IDR		7,300,000		975
11.000%, 11/15/20	IDR		17,100,000		2,277
10.375%, 05/04/14			1,000		1,263
10.375%, 05/04/14 (A)			300		379
8.500%, 10/12/35			500		729
8.500%, 10/12/35			3,560		5,193
7.750%, 01/17/38			14,655		20,077
7.750%, 01/17/38			700		959
7.500%, 01/15/16			1,640		1,984
7.250%, 04/20/15			190		225
6.875%, 01/17/18 (A)			1,050		1,255
6.875%, 01/17/18			3,230		3,860
6.750%, 03/10/14 (A)			500		568
6.750%, 03/10/14			1,400		1,592
6.625%, 02/17/37			2,500		3,064
5.875%, 03/13/20 (A)			1,800		2,032
Star Energy
11.500%, 02/12/15			500		546

					70,316


Iraq — 1.2%
Republic of Iraq
5.800%, 01/15/28			14,165		12,111


Ivory Coast — 0.2%
Government of Ivory Coast
2.500%, 12/31/32			3,837		2,091

Jamaica — 0.2%
Digicel Group
9.125%, 01/15/15 (A)			693		700
8.875%, 01/15/15 (A)			750		756

					1,456


Kazakhstan — 4.1%
CenterCredit International
8.625%, 01/30/14			2,900		2,983
Citigroup Global Markets for JSC Kazkommertsbank
8.700%, 04/07/14 (B)			1,550		1,256
Halyk Savings Bank of Kazakhstan
9.250%, 10/16/13			875		952
7.750%, 05/13/13			100		106
7.250%, 05/03/17			1,150		1,141
Kazatomprom
6.250%, 05/20/15			1,050		1,116
Kazkommertsbank
12.850%, 12/18/12			600		619
8.500%, 04/16/13			1,850		1,813
8.000%, 11/03/15			2,050		1,932
7.875%, 04/07/14			900		866
7.500%, 11/29/16			2,850		2,558
6.875%, 02/13/17	EUR		500		575


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

KazMunaiGaz Finance MTN
11.750%, 01/23/15 (A)			3,713	$	4,641
9.125%, 07/02/18			3,623		4,375
9.125%, 07/02/18 (A)			3,125		3,750
8.375%, 07/02/13			3,850		4,196
7.000%, 05/05/20 (A)			5,855		6,265
Tengizchevroil Finance
6.124%, 11/15/14			412		429

					39,573


Lithuania — 0.6%
Republic of Lithuania
7.375%, 02/11/20 (A)			2,150		2,422
7.375%, 02/11/20			1,700		1,917
6.750%, 01/15/15 (A)			1,405		1,524

					5,863


Malaysia — 3.4%
Government of Malaysia
3.835%, 08/12/15			11,180		3,633
3.741%, 02/27/15	MYR		12,440		4,023
Malaysia Sukuk Global Berhad
3.928%, 06/04/15 (A)			450		474
Petroliam Nasional
7.750%, 08/15/15			1,460		1,818
7.625%, 10/15/26			430		580
Petronas Capital
7.875%, 05/22/22			4,930		6,777
7.875%, 05/22/22 (A)			450		623
7.000%, 05/22/12			3,055		3,327
5.250%, 08/12/19			250		281
5.250%, 08/12/19 (A)			10,615		11,906

					33,442


Mexico — 6.5%
Alestra
11.750%, 08/11/14			536		592
Axtel
9.000%, 09/22/19			1,062		961
7.625%, 02/01/17 (A)			131		118
BBVA Bancomer
6.008%, 05/17/22 (B)			780		771
Cemex Finance
9.500%, 12/14/16			500		486
Cemex Espana Luxembourg
9.250%, 05/12/20 (A) (D)			2,578		2,356
9.250%, 05/12/20 (D)			1,002		916
Corporation Geo
9.250%, 06/30/20 (A)			1,100		1,218
9.250%, 06/30/20			500		558
Desarrolla
7.500%, 09/28/15			252		257
Grupo Senda
10.500%, 10/03/15			4,590		4,343
Hipotecaria Su Casita
8.500%, 10/04/16			222		124
8.500%, 10/04/16			81		45
Mexican Bonos, Ser M10
7.250%, 12/15/16	MXN		13,000		1,054


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

Mexican Bonos
9.500%, 12/18/14	MXN		12,283	$	1,071
8.000%, 12/17/15	MXN		61,350		5,117
8.000%, 06/11/20	MXN		30,860		2,644
NII Capital
10.000%, 08/15/16			5,065		5,679
Oceanografia
11.250%, 07/15/15			1,286		802
Pemex Finance
9.150%, 11/15/18			1,895		2,504
Pemex Project Funding Master Trust
6.625%, 06/15/35			400		435
5.750%, 03/01/18			1,670		1,823
Petroleos Mexicanos
8.000%, 05/03/19 (A)			465		574
8.000%, 05/03/19			950		1,173
6.625%, 06/15/35			2,122		2,308
6.000%, 03/05/20 (A)			500		541
United Mexican States
8.300%, 08/15/31			3,732		5,356
8.125%, 12/30/19			700		931
8.000%, 09/24/22			582		792
6.625%, 03/03/15			2,650		3,094
6.050%, 01/11/40			2,390		2,713
5.950%, 03/19/19			2,856		3,292
5.625%, 01/15/17			4,550		5,107
5.125%, 01/15/20			1,000		1,085
United Mexican States, Ser A MTN
6.750%, 09/27/34			1,863		2,324

					63,164


Nigeria — 0.1%
GTB Finance
8.500%, 01/29/12			500		517
UBS
9.350%, 09/04/17 (A)(B)			800		725

					1,242


Oman — 0.1%
Blue City Investments
13.750%, 11/07/13			2,750		550


Pakistan — 0.5%
Pakistan Mobile Communications
8.625%, 11/13/13 (A)			330		308
Republic of Pakistan
7.125%, 03/31/16			2,750		2,505
6.875%, 06/01/17			2,850		2,522

					5,335


Panama — 2.4%
Republic of Panama
9.375%, 04/01/29			7,540		11,461
9.375%, 01/16/23			595		824
8.875%, 09/30/27			3,300		4,711
8.125%, 04/28/34 (D)			940		1,260
7.250%, 03/15/15			1,800		2,120
6.700%, 01/26/36			2,663		3,235

					23,611


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

Peru — 2.8%
Interoceanica IV Finance
3.966%, 11/30/25 (A)(E)			736	$	368
3.899%, 11/30/18 (A)(E)			347		271
3.230%, 11/30/18			656		512
Peru Enhanced Pass-Through Finance
7.295%, 06/02/25 (A)(E)			500		256
4.417%, 05/31/18 (E)			1,558		1,262
3.998%, 05/31/18 (A)(E)			486		394
Republic of Peru
8.750%, 11/21/33			5,850		8,687
8.375%, 05/03/16			750		937
7.350%, 07/21/25			9,995		12,819
6.550%, 03/14/37			1,138		1,354

					26,860


Philippines — 5.7%
National Power
9.625%, 05/15/28			1,100		1,518
Power Sector
7.390%, 12/02/24			800		972
7.250%, 05/27/19			300		364
Republic of Philippines
10.625%, 03/16/25			4,611		7,435
9.500%, 02/02/30			2,730		4,231
9.500%, 10/21/24			200		305
9.375%, 01/18/17			10,040		13,554
8.875%, 03/17/15			500		632
8.375%, 06/17/19			1,000		1,322
8.250%, 01/15/14			2,425		2,874
8.000%, 01/15/16			3,500		4,393
7.750%, 01/14/31			3,324		4,446
7.500%, 09/25/24			6,169		8,112
6.500%, 01/20/20			500		594
6.375%, 10/23/34			3,040		3,557
6.375%, 01/15/32			890		1,036

					55,345


Poland — 1.5%
Republic of Poland
6.375%, 07/15/19			10,519		12,397
TVN Finance
10.750%, 11/15/17			200		276
TVN Finance II
10.750%, 11/15/17 (A)	EUR		1,500		2,061

					14,734


Qatar — 1.4%
Qtel International Finance
7.875%, 06/10/19			2,600		3,196
6.500%, 06/10/14 (A)			600		672
5.000%, 07/21/20			1,800		1,893
State of Qatar
9.750%, 06/15/30			535		861
6.400%, 01/20/40 (A)			705		850
5.250%, 01/20/20 (A)			5,385		5,923

					13,395


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

Russia — 8.9%
Alfa Dividend Payment Rights Finance MTN
2.437%, 12/15/11 (A) (B)			141	$	130
Alfa Invest MTN
9.250%, 06/24/13 (A)			1,200		1,282
Alfa Issuance MTN
8.000%, 03/18/15			208		213
Edel Capital for Sinek Capital SA
7.700%, 08/03/15			600		625
Gaz Capital
8.625%, 04/28/34			1,850		2,266
6.510%, 03/07/22 (A)			1,250		1,275
6.212%, 11/22/16			400		420
Kuznetski (Bank of Moscow)
7.500%, 11/25/15 (B)			1,300		1,268
MTS International
8.625%, 06/22/20 (A)			2,660		3,012
RSHB Capital for Russian Agricultural Bank
9.000%, 06/11/14			750		853
7.750%, 05/29/18			1,100		1,243
6.299%, 05/15/17			400		417
Russian Federation
12.750%, 06/24/28			4,120		7,429
11.200%, 12/17/14	RUB		49,200		1,864
7.500%, 03/31/30 (C)			36,598		43,464
Russian Foreign Bond - Eurobond
5.000%, 04/29/20 (A)			700		714
Teorema Holding
11.000%, 10/27/09 (G) (H)			2,000		200
TNK-BP Finance
7.875%, 03/13/18 (A)			501		564
7.500%, 07/18/16 (A)			415		460
7.250%, 02/02/20 (A)			1,098		1,202
6.250%, 02/02/15 (A)			238		250
UBS (Vimpelcom)
8.250%, 05/23/16			190		203
VEB Finance
6.902%, 07/09/20			3,435		3,693
VIP Finance Ireland for Vimpel Communications
9.125%, 04/30/18 (A)			505		566
9.125%, 04/30/18			1,200		1,347
8.375%, 04/30/13			800		851
8.375%, 04/30/13 (A)			1,050		1,113
VTB Capital
6.875%, 05/29/18			7,550		7,880
6.609%, 10/31/12 (A)			1,600		1,670
6.250%, 06/30/35			498		507

					86,981


Saudi Arabia — 0.2%
Dar Al-Arkan International Sukuk
10.750%, 02/18/15 (A)			1,050		1,060
10.750%, 02/18/15			500		505

					1,565


Singapore — 0.6%
Sea Production
4.673%, 02/14/12			8,800		4,840


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

STATS ChipPac
7.500%, 08/12/15			1,280	$	1,331

					6,171


South Africa — 2.0%
Consol Glass MTN
7.625%, 04/15/14	EUR		285		353
Edcon Proprietary
3.969%, 06/15/14 (B)	EUR		2,850		2,717
Myriad International Holding
6.375%, 07/28/17			2,370		2,427
Republic of South Africa
8.500%, 06/23/17			815		1,023
8.000%, 12/21/18			7,850		1,074
7.500%, 01/15/14	ZAR		7,420		1,016
6.875%, 05/27/19			3,406		4,134
6.500%, 06/02/14			2,555		2,900
5.875%, 05/30/22			2,045		2,331
5.500%, 03/09/20			1,600		1,778

					19,753


South Korea — 0.4%
Export-Import Bank of Korea
8.125%, 01/21/14			2,105		2,480
5.875%, 01/14/15			1,125		1,259

					3,739


Sri Lanka — 0.1%
Democratic Socialist Republic of Sri Lanka
7.400%, 01/22/15 (A)			500		538


Supra-National — 0.1%
Andina de Fomento
8.125%, 06/04/19			565		713
Eurasian Development Bank MTN
7.375%, 09/29/14 (A)			350		373

					1,086


Thailand — 0.3%
True Move
10.750%, 12/16/13			500		528
10.750%, 12/16/13 (A)			850		886
10.375%, 08/01/14 (A)			1,350		1,408

					2,822


Trinidad & Tobago — 0.4%
Petroleum of Trinidad & Tobago
9.750%, 08/14/19 (A)			653		784
6.000%, 05/08/22			2,425		2,437
6.000%, 05/08/22 (A)			700		703

					3,924


Tunisia — 0.3%
Banque Centrale de Tunisie
7.375%, 04/25/12			2,210		2,404
6.250%, 02/20/13			430		594

					2,998


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

Turkey — 5.0%
Akbank
5.125%, 07/22/15			2,872	$	2,829
Globus Capital Finance
8.500%, 03/05/12			700		616
Republic of Turkey
11.875%, 01/15/30			975		1,661
9.500%, 01/15/14			300		359
8.000%, 02/14/34			2,150		2,682
7.500%, 11/07/19			1,835		2,188
7.500%, 07/14/17			2,825		3,333
7.375%, 02/05/25			6,445		7,671
7.250%, 03/15/15			800		916
7.250%, 03/05/38			640		744
7.000%, 06/05/20			550		635
7.000%, 09/26/16			1,000		1,153
7.000%, 03/11/19			400		461
6.875%, 03/17/36			6,695		7,431
6.750%, 05/30/40			6,091		6,685
6.750%, 04/03/18			6,080		6,901
5.625%, 03/30/21			2,250		2,357

					48,622


Ukraine — 4.3%
Biz Finance for Ukreximbank
8.375%, 04/27/15			1,450		1,497
Credit Suisse First Boston for City of Kiev
8.000%, 11/06/15			750		667
Credit Suisse First Boston International (Export/Import - Ukraine)
7.650%, 09/07/11			1,000		1,011
6.800%, 10/04/12			800		795
DTEK Finance
9.500%, 04/28/15			129		130
9.500%, 04/28/15 (A)			790		798
Government of Ukraine
7.650%, 06/11/13			250		263
7.650%, 06/11/13			4,075		4,289
6.875%, 03/04/11			500		502
6.750%, 11/14/17			1,200		1,192
6.580%, 11/21/16			2,270		2,252
6.385%, 06/26/12			1,445		1,464
3.200%, 12/19/10	JPY		760,000		8,946
Metinvest
10.250%, 05/20/15			101		105
10.250%, 05/20/15			800		832
MHP
10.250%, 04/29/15			293		300
10.250%, 04/29/15			1,965		2,010
NAK Naftogaz Ukraine
9.500%, 09/30/14			8,373		9,190
9.500%, 09/30/14			1,900		2,082
Springvale Holdings
9.181%, 09/07/09 (B) (G) (H)			1,000		75
UK Private Bank
8.000%, 02/06/12			3,200		3,140

					41,540


Description		Face Amount(1) (Thousands)		Market Value ($ Thousands)

United Arab Emirates — 2.5%
Aldar Funding
5.767%, 11/10/11			2,835	$	2,750
Dolphin Energy
5.888%, 06/15/19 (A)			432		457
5.888%, 06/15/19			911		965
DP World
6.850%, 07/02/37			1,320		1,188
Dubai DOF Sukuk MTN
6.396%, 11/03/14			2,050		2,013
Dubai Electricity & Water Authority
8.500%, 04/22/15			252		268
8.500%, 04/22/15 (A)			1,650		1,752
Dubai Holding Commercial Operations MTN
4.750%, 01/30/14	EUR		3,350		3,300
0.841%, 02/01/12 (B)			200		170
Dubai Sukuk Centre
0.911%, 06/13/12 (B)			750		584
Emirate of Abu Dhabi
6.750%, 04/08/19 (A)			670		814
Jafz Sukuk
3.741%, 11/27/12 (B)	AED		26,700		6,161
Nakheel Development 2
2.750%, 01/16/11			3,400		3,710

					24,132


Uruguay — 3.1%
Republic of Uruguay PIK
7.875%, 01/15/33			4,070		5,250
Republic of Uruguay
9.250%, 05/17/17			5,220		6,786
8.000%, 11/18/22			11,333		14,620
7.625%, 03/21/36			2,186		2,821
6.875%, 09/28/25			761		932

					30,409


Venezuela — 5.3%
Bolivarian Republic of Venezuela
8.250%, 10/13/24			4,315		2,567
Government of Venezuela
13.625%, 08/15/18			737		671
13.625%, 08/15/18			2,435		2,216
10.750%, 09/19/13			700		661
9.375%, 01/13/34			2,370		1,526
9.250%, 09/15/27			4,025		2,858
9.250%, 05/07/28			6,165		3,976
9.000%, 05/07/23			11,054		7,019
8.500%, 10/08/14			7,149		5,898
7.750%, 10/13/19			1,200		759
7.650%, 04/21/25			4,415		2,550
7.000%, 12/01/18			255		156
7.000%, 03/31/38			200		108
6.000%, 12/09/20			1,450		826
5.750%, 02/26/16			3,250		2,178


Description	Face Amount(1) (Thousands)		Market Value ($ Thousands)

Petroleos de Venezuela
5.500%, 04/12/37		3,650	$	1,588
5.375%, 04/12/27		14,675		6,531
5.250%, 04/12/17		13,725		7,858
5.000%, 10/28/15		1,700		939
4.900%, 10/28/14		915		570

				51,455


Vietnam — 0.2%
Socialist Republic of Vietnam
6.875%, 01/15/16		350		384
6.750%, 01/29/20		200		216
6.750%, 01/29/20 (A)		1,052		1,143

				1,743

Total Global Bonds (Cost $802,565) ($ Thousands)				919,886


LOAN PARTICIPATIONS — 0.9%

Angola — 0.1%
Republic of Angola
3.006%, 04/30/16 (H) (I)		1,300		1,373


Cambodia — 0.3%
CAMGSM PIK
12.760%, 05/25/11		2,420		2,420


Georgia — 0.0%
Ashmore Cayman
0.000%, 04/16/14 (E) (H) (I)		221		227


Russia — 0.2%
Snegri Overseas
10.500%, 10/26/10 (H) (I)		2,422		1,938


Singapore — 0.3%
Morton Bay Senior
6.250%, 06/30/11 (H) (I)		3,054		3,054

Total Loan Participations (Cost $9,878) ($ Thousands)				9,012


CONVERTIBLE BONDS — 0.9%
Enercoal Resources CV to 295,523.6688 shares
9.250%, 08/05/14		1,000		929
Enercoal Resources CV to 269,856.0083 shares
5.000%, 11/25/16		1,200		1,157
FirstSource Solutions CV to 42,549.14 shares
6.011%, 12/04/12 (E)		2,300		2,325
Reliance Communications CV to 6,670.9011
0.000%, 03/01/12 (E)		1,400		1,624


Description	Face Amount(1) (Thousands)/Shares		Market Value ($ Thousands)

Suzlon Energy CV to 22.683 shares
1.307%, 06/12/12		2,391	$	2,412
Suzlon Energy CV to 533.2762 shares
2.452%, 07/25/14 (E)		500		397

Total Convertible Bonds (Cost $8,253) ($ Thousands)				8,844


WARRANTS — 0.0%

Russia — 0.0%
Teorema Holding A,
Expires 10/27/11* (H)		136		—
Teorema Holding B,
Expires 10/27/11* (H)		272		—

Total Warrants (Cost $47) ($ Thousands)				—


DEPOSIT WITH COUNTERPARTY AS COLLATERAL FOR SWAP CONTRACTS — 0.0%

United States — 0.0%
Deposits with Merrill Lynch as Collateral for Swap Contract Outstanding		200		200

Total Deposit with Counterparty as Collateral for Swap Contracts (Cost $200) ($ Thousands)				200


AFFILIATED PARTNERSHIP — 0.6%

United States — 0.6%
SEI Liquidity Fund, L.P.,
0.250%** † (F)		5,417,130		5,189

Total Affiliated Partnership (Cost $5,417) ($ Thousands)				5,189

Total Investments — 96.8% (Cost $826,360)($ Thousands) ††			$	943,131

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:

Type of Contract

Number of
Contracts
Long (Short)

Expiration
Date

Unrealized
Appreciation
($ Thousands)

U.S. Ultra Long Treasury Bond

Jan-2011

For the period ended August 31, 2010, the total amount of all open future contracts, as presented in the table above, are representative of the volume of activity for this derivative type during the period.

A summary of the outstanding forward foreign currency contracts held by the Fund at August 31, 2010, is as follows:


Settlement Date	Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) ($ Thousands)
9/2/10		BRL	5,734		USD	3,250	$	(19	)
9/2/10		USD	3,254		BRL	5,734		15
9/2/10-10/1/10		EUR	24,533		USD	31,484		308
9/2/10-10/1/10		JPY	1,508,157		USD	17,575		(390	)
9/3/10-10/13/10		MXN	4,293		USD	332		7
9/8/10-9/13/10		INR	211,949		USD	4,515		16
9/10/10-10/12/10		KRW	4,959,560		USD	4,196		58
9/13/10-10/12/10		USD	8,406		KRW	10,196,535		104
9/13/10-10/22/10		USD	10,890		INR	511,891		(59	)
9/20/10		USD	1,081		RUB	33,174		(5	)
9/20/10-9/24/10		RUB	95,501		USD	3,111		12
10/13/10		USD	1,948		MXN	24,937		(62	)
11/23/10-5/20/11		CNY	39,069		USD	5,796		37
11/23/10-8/9/11		USD	9,760		CNY	65,265		(106	)

							$	(84	)

A summary of the counterparties for the outstanding forward foreign currency contracts held by the Fund at August 31, 2010, is as follows:


Counterparty	Currency to Deliver ($ Thousands)			Currency to Receive ($ Thousands)		Unrealized Appreciation (Depreciation) ($ Thousands)
Bank of America	$	(1,166	)	$	1,170	$	4
Barclay’s Capital		(4,841	)		4,894		53
Citigroup Global Markets		(16,136	)		16,070		(66	)
Goldman Sachs		(1,458	)		1,470		12
HSBC		(35,791	)		35,907		116
JPMorgan Securities		(38,517	)		38,277		(240	)
Royal Bank of Canada		(2,415	)		2,417		2
UBS		(5,249	)		5,284		35

						$	(84	)

A summary of outstanding swap agreements help by the Fund at August 31, 2010, is as follows:

Percentages are based on a Net Assets of $973,370($ Thousands)

(1)

In U.S. dollars unless otherwise indicated.

Non-income producing security.

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $826,360

($ Thousands), and the unrealized appreciation and depreciation were $130,904

($ Thousands) and $(14,133)($ Thousands), respectively.

(A)

(B)

Variable Rate Security—The rate reported is the rate in effect as of August 31, 2010. The date reported is the final maturity date.

(C)

Step Bonds—The rate reflected is the effective yield on August 31, 2010. The coupon on a step bond changes on a specified date.

(D)

This security or a partial position of this security is on loan at August 31, 2010. The total value of securities on loan at August 31, 2010 was $5,205 ($ Thousands).

(E)

Zero coupon security. The rate reported is the effective yield at time of purchase.

(F)

This security was purchased with cash collateral held from securities on loan. The total value of such securities as of August 31, 2010 was 5,189 ($ Thousands).

(G)

Security in default on interest payments.

(H)

Security fair valued using methods determined in good faith by the Valuation Committee of the Board of Trustees. The total market value of such securities as of August 31, 2010 was $6,867 ($ Thousands) and represented 0.7% of Net Assets.

(I)

Securities considered illiquid. The total value of such securities as of August 31, 2010 was $6,592 ($ Thousands) and represented 0.7% of Net Assets.

AED — United Arab Emirates Dirham

ARS — Argentine Peso

BRL — Brazilian Real

CNY — Chinese Yuan Renminbi

COP — Colombian Peso

CV — Convertible Security

DEM — German Mark

EUR — Euro

IDR — Indonesia Rupiah

INR — India Rupee

JPY — Japanese Yen

KRW — South Korean Won

L.P. — Limited Partnership

MTN — Medium Term Note

MXN — Mexican Peso

MYR — Malaysian Ringgit

PIK — Payment-in-Kind

RUB — Russian Ruble

Ser — Series

USD — U.S. Dollar

ZAR — South African Rand

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
Global Bonds	$	—	$	919,886	$	—	$	919,886
Loan Participations		—		—		9,012		9,012
Convertible Bonds		—		8,844		—		8,844
Warrants		—		—		—		—
Deposit with Counterparty as Collateral for Swap Contracts		—		200		—		200
Affiliated Partnership		—		5,189		—		5,189

Total Investments in Securities	$	—	$	934,119	$	9,012	$	943,131


Other Financial Instruments	Level 1		Level 2			Level 3		Total
Future Contracts*	$	15	$	—		$	—	$	15
Forwards Contracts		—		(84	)		—		(84	)
Total Return Swaps		—		(101	)		8		(93	)

Total Other Financial Instruments	$	15	$	(185	)	$	8	$	(162	)

Future contracts are valued at the unrealized appreciation on the instrument.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value ($ Thousands):


	Investments in Loan Participations			Investments in Total Return Swaps
Beginning balance as of June 1, 2010	$	9,135		$	5
Accrued discounts/premiums		6			—
Realized gain/(loss)		—			—
Change in unrealized appreciation/(depreciation)		69			3
Net purchases/sales		(198	)		—
Net transfer in and/or out of Level 3		—			—

Ending balance as of August 31, 2010	$	9,012		$	8

Changes in unrealized gains/(losses) included in earnings related to securities still held at reporting date	$	69		$	3

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

Amounts designated as “—” are $O or have been rounded to $O.


Description	Face Amount ($ Thousands)		Market Value ($ Thousands)

U.S. TREASURY OBLIGATIONS — 99.2%
U.S. Treasury Inflation-Protected Securities
3.000%, 07/15/12	$	17,625	$	22,653
2.375%, 04/15/11		5,175		5,754
2.375%, 01/15/17		6,425		7,741
2.000%, 04/15/12		44,371		49,236
2.000%, 01/15/14		39,599		49,796
2.000%, 07/15/14		37,261		46,247
2.000%, 01/15/16		24,950		29,742
1.875%, 07/15/13		26,570		33,355
1.875%, 07/15/15		7,350		8,866
1.625%, 01/15/15		51,200		61,897
1.250%, 04/15/14		25,975		27,977
0.625%, 04/15/13		40,345		42,528

Total U.S. Treasury Obligations (Cost $377,325) ($ Thousands)				385,792

Total Investments — 99.2% (Cost $377,325)($ Thousands) †			$	385,792

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long (Short)			Expiration Date		Unrealized Depreciation ($ Thousands)
U.S. 5-Year Treasury Note		(160	)		Dec-2010	$	(88	)

Percentages are based on a Net Assets of $389,023 ($ Thousands).

†

At August 31, 2010, the tax basis cost of the Fund’s investments was $377,325 ($ Thousands), and the unrealized appreciation and depreciation were $8,798 ($ Thousands) and $(331)($ Thousands), respectively.

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
U.S. Treasury Obligations	$	—	$	385,792	$	—	$	385,792

Total Investments in Securities	$	—	$	385,792	$	—	$	385,792


Other Financial Instruments	Level 1			Level 2		Level 3		Total
Futures Contracts*	$	(88	)	$	—	$	—	$	(88	)

Total Other Financial Instruments	$	(88	)	$	—	$	—	$	(88	)

Futures contracts are valued at the unrealized depreciation on the instrument.

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

Amounts designated as “—” are $O or have been rounded to $O.


Description	Face Amount ($ Thousands)/Shares		Market Value ($ Thousands)

U.S. GOVERNMENT AGENCY OBLIGATIONS — 53.1%
FHLB (A)
0.001%, 11/26/10	$	7,000	$	6,997
0.150%, 09/01/10		7,000		7,000
0.140%, 09/15/10		7,000		7,000
Total U.S. Government Agency Obligations (Cost $20,997) ($ Thousands)				20,997

U.S. TREASURY OBLIGATION — 40.5%
U.S. Treasury Bill
0.140%, 09/02/10 (A)(B)		16,000		16,000
Total U.S. Treasury Obligation (Cost $16,000) ($ Thousands)				16,000

CASH EQUIVALENT — 23.6%
SEI Daily Income Trust, Prime Obligation Fund, Cl A, 0.200%*†		9,316,078		9,316
Total Cash Equivalent (Cost $9,316) ($ Thousands)				9,316
Total Investments — 117.2%†† (Cost $46,313)($ Thousands)			$	46,313

A summary of the open futures contracts held by the Fund at August 31, 2010, is as follows:


Type of Contract	Number of Contracts Long		Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
S&P 500 Index E-MINI		440		Sep-2010	$	(1,154	)
U.S. 10-Year Treasury Note		130		Dec-2010		83

					$	(1,071	)

Percentages are based on a Net Assets of $39,516($ Thousands).

The rate reported is the 7-day effective yield as of August 31, 2010.

†

Investment in Affiliated Security.

††

At August 31, 2010, the tax basis cost of the Fund’s investments was $46,313 ($ Thousands), and the unrealized appreciation and depreciation were $0 and $0, respectively.

(A)

— The rate reported is the effective yield at time of purchase.

(B)

— Security, or a portion thereof, has been pledged as collateral on open futures contracts.

FHLB — Federal Home Loan Bank

Cl — Class

The following is a summary of the inputs used as of August 31, 2010 in valuing the Fund’s investments carried at value ($ Thousands):


Investments in Securities	Level 1		Level 2		Level 3		Total
U.S. Government Agency Obligations	$	—	$	20,997	$	—	$	20,997
U.S. Treasury Obligation		—		16,000		—		16,000
Cash Equivalent		9,316		—		—		9,316

Total Investments in Securities	$	9,316	$	36,997	$	—	$	46,313


Other Financial Instruments	Level 1			Level 2		Level 3		Total
Futures Contracts*	$	(1,071	)	$	—	$	—	$	(1,071	)

Total Other Financial Instruments	$	(1,071	)	$	—	$	—	$	(1,071	)

Futures contracts are valued at the unrealized depreciation on the instrument.

Amounts designated as “—” are either $0, or have been rounded to $0.

For the period ended August 31, 2010, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.

(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) are effective, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 as of a date within 90 days of the filing date of this report.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the Registrant’s first fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

(a) A separate certification for the principal executive officer and the principal financial officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)), are filed herewith.

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.


1		SEI Institutional Investments Trust / Quarterly Reporting / August 31, 2010


	Face Amount ($Thousands)		Acquisition Date		Right to Acquire Date		Cost ($Thousands)		Market Value ($Thousands)		% of Net Assets
Rentech		16,100		4/20/07		4/20/07	$	—	$	—		0.00	%
Scorpio Mining		887		5/5/08		5/5/08		805		769		0.06

							$	805	$	769		0.06	%


	Face Amount ($ Thousands)		Acquisition Date		Right to Acquire Date		Cost ($ Thousands)		Market Value ($ Thousands)		% of Net Assets
Rentech		13,800		4/20/07		4/20/07	$	—	$	—		0.00	%
Scorpio Mining		509		5/5/08		5/5/08		499		441		0.02

							$	499	$	441		0.02	%


	Number of Shares		Acquisition Date		Right to Acquire Date		Cost ($Thousands)		Market Value ($Thousands)		% of Net Assets
Metroflag		1,500		1/10/08		1/10/08	$	1,500	$	—		0.00	%


Credit Default Swaps
Counterparty	Reference Entity/Obligation	Buy/Sell Protection	(Pays)/Receives Rate			Termination Date		Notional Amount (Thousands)			Net Unrealized Appreciation (Depreciation) ($Thousands)
Bank of America	CMBX-NA-AJ 1 Index	BUY		(0.84	)		10/12/52		3,850		$	(1,682	)
Bank of America	CMBX-NA-AJ 1 Index	BUY		(0.84	)		10/12/52		5,500			(2,453	)
Bank of America	CMBX-NA-AJ 1 Index	BUY		(0.84	)		10/12/52		4,445			(438	)
Barclays Bank PLC	ABX.HE.AAA 07-1 Index	SELL		0.09			08/25/37		(4,612	)		(1,773	)
Barclays Bank PLC	ABX.HE.PENAAA 07-2 Index	SELL		0.76			01/25/38		(4,568	)		414
Barclays Bank PLC	ABX.HE.PENAAA 07-2 Index	SELL		0.76			01/25/38		(3,972	)		395
Barclays Bank PLC	CMBX-NA-AJ 1 Index	BUY		(0.84	)		10/12/52		4,880			(2,202	)
Barclays Bank PLC	CMBX-NA-AJ 1 Index	BUY		(0.84	)		10/12/49		2,000			121
Barclays Bank PLC	CMBX-NA-AJ 1 Index	BUY		(0.84	)		10/12/49		2,000			101
Citigroup	ABX.HE.AAA 06-2 Index	SELL		0.11			05/25/46		(2,064	)		(151	)
Citigroup	ABX.HE.AAA 07-1 Index	SELL		0.09			08/25/37		(3,493	)		(1,333	)
Citigroup	ABX.HE.PENAAA 07-2 Index	SELL		0.76			01/25/38		(4,071	)		603
Citigroup	ABX.HE.PENAAA 07-2 Index	SELL		0.76			01/25/38		(5,461	)		705
Citigroup	DARDEN RESTAURANTS Inc., 6.000% 08/15/35	BUY		(2.73	)		03/20/14		1,435			(96	)
Citigroup	DARDEN RESTAURANTS Inc., 7.125% 02/01/16	BUY		(2.40	)		03/20/15		1,200			(72	)
Citigroup	DR HORTON, Inc., 5.375% 6/15/12	BUY		(1.00	)		09/20/16		1,020			77
Citigroup	HOME DEPOT, 5.875% 12/16/36	BUY		(2.67	)		03/20/14		5,100			(382	)
Citigroup	LOWES Cos. Inc., , 8.250% 06/01/10	BUY		(1.20	)		03/20/14		5,320			(107	)
Credit Suisse	ABX.HE.AA 06-2 Index	SELL		0.17			05/25/46		(4,522	)		(190	)
Credit Suisse	ABX.HE.AA 06-2 Index	SELL		0.17			05/25/46		(4,793	)		(235	)
Credit Suisse	ABX.HE.AAA 06-1 Index	SELL		0.09			08/25/37		(3,942	)		(63	)
Credit Suisse	CMBX-NA-AJ 1 Index	BUY		(0.84	)		10/12/52		390			(174	)
Credit Suisse	GENERAL ELECTRIC Corp., 5.625% 09/15/17	SELL		6.55			12/20/10		(2,570	)		73
Credit Suisse	PULTE HOMES, Inc., 5.250% 1/15/14	BUY		(1.00	)		09/20/16		2,250			237
Credit Suisse	TARGET CORPORATION, 4.000% 6/15/13	BUY		(1.00	)		12/20/14		1,280			(3	)
Credit Suisse	TOLL BROTHERS Inc., 5.150% 05/15/15	BUY		(1.00	)		09/20/16		6,700			593
Deutsche Bank	CENTEX CORPORATION, 5.250% 06/15/15	BUY		(4.40	)		12/20/13		600			(55	)
Deutsche Bank	DARDEN RESTAURANTS Inc., 6.000% 08/15/35	BUY		(2.25	)		03/20/14		1,650			(81	)
Deutsche Bank	DARDEN RESTAURANTS Inc., 7.125% 02/01/16	BUY		(2.25	)		03/20/13		600			(25	)
Deutsche Bank	DR HORTON, Inc., 5.375% 6/15/12	BUY		(1.00	)		09/20/16		800			49
Deutsche Bank	PULTE HOMES, Inc., 5.250% 1/15/14	BUY		(1.00	)		09/20/16		3,050			326
Deutsche Bank	PULTE HOMES, Inc., 5.250% 1/15/14	BUY		(1.00	)		09/20/16		2,250			274
Deutsche Bank	TARGET CORPORATION, 4.000% 6/15/13	BUY		(1.00	)		12/20/14		1,280			(3	)
Goldman Sachs	ABX.HE.AA 06-2 Index	SELL		0.17			05/25/46		(3,437	)		(152	)
Goldman Sachs	ABX.HE.AAA 07-1 Index	SELL		0.09			08/25/37		(5,341	)		(342	)
Goldman Sachs	DR HORTON, Inc., 5.375% 6/15/12	BUY		(1.00	)		09/20/16		795			49
Goldman Sachs	PULTE HOMES, Inc., 5.250% 1/15/14	BUY		(1.00	)		09/20/16		1,600			175
Merrill Lynch	CENTEX CORPORATION, 5.250% 06/15/15	BUY		(3.56	)		12/20/12		1,970			(104	)
Merrill Lynch	CENTEX CORPORATION, 5.250% 06/15/15	BUY		(3.56	)		12/20/12		1,375			(75	)
Morgan Stanley	ABX.HE.AAA 07-1 Index	SELL		0.09			08/25/37		(2,069	)		(150	)
Morgan Stanley	ABX.HE.AAA 07-1 Index	SELL		0.09			08/25/37		(5,124	)		(329	)
Morgan Stanley	BERKSHIRE HATHAWAY Inc., 4.625% 10/15/13	SELL		4.00			03/20/11		(5,400	)		127
Morgan Stanley	CDS-CMBX @ 134 BPS 42.2	BUY		0.10			10/12/52		1,400			(11	)
Morgan Stanley	CMBX @162.31BPS38.8YR	BUY		0.07			03/15/49		1,240			(25	)
Morgan Stanley	CMBX 1 2006-1 AAA	SELL		0.10			09/12/49		(1,264	)		25
Morgan Stanley	CMBX@ 234 BPS 40.6 YR	SELL		0.35			02/17/51		(800	)		20
Morgan Stanley	DARDEN RESTAURANTS Inc., 7.125% 02/01/16	BUY		(2.25	)		03/20/13		600			(25	)
Royal Bank of Scotland	ABX.HE.AA 06-2 Index	SELL		0.17			05/25/46		(2,713	)		(114	)

											$	(8,481	)


Interest Rate Swaps
Counterparty	Fund Pays	Fund Receives	Termination Date	Notional Amount (Thousands)		Net Unrealized Depreciation ($Thousands)
Morgan Stanley	0.00%	3MLIBOR (PAYMENT AT MATURITY)	11/15/27		29,630,000	$	(4,091	)
Morgan Stanley	0.00%	3MLIBOR (PAYMENT AT MATURITY)	02/15/25		19,470,000		(2,663	)

						$	(6,754	)


WRITTEN CREDIT DERIVATIVE CONTRACTS	SINGLE NAME CREDIT DEFAULT SWAPS					CREDIT DEFAULT SWAP INDEX
Reference Asset	Corporate Debt			Sovereign Debt		Asset Backed Securities			Corporate Debt		Total
Fair value of written credit derivatives	$	123,513			—	$	(36,826,363	)		—	$	(36,702,850	)
Maximum potential amount of future payments		(7,970,000	)		—		(62,246,719	)		—		(70,216,719	)
Recourse provisions with third parties to recover any amounts paid under the credit derivative (including any purchased credit protection)[1]		—			—		—			—		—
Collateral held by the Partnership or other third parties which the Partnership can obtain uponoccurrence of triggering event		—			—		—			—		—


40		SEI Institutional Investments Trust/ Quarterly Reporting/ August 31, 2010


MAXIMUM POTENTIAL AMOUNT OF FUTURE PAYMENTS BY CONTRACT TERM
	0-6 months			6-12 months		1-5 years		5-10 years		More than 10 years			Total
Current credit spread* on underlying (in basis points) [1]
0 - 2000		(7,970,000	)		—		—		—		(2,064,000	)		(10,034,000	)
2001 - 4000		—			—		—		—		(44,718,199	)		(44,718,199	)
Greater than 4000		—			—		—		—		(15,464,520	)		(15,464,520	)

Total		(7,970,000	)		—		—		—		(62,246,719	)		(70,216,719	)


	Investments in Auction Rate Preferred Securities			Investments in Preferred Stock
Beginning balance as of June 1, 2010	$	6,622		$	363
Accrued discounts/premiums		—			—
Realized gain/(loss)		—			—
Change in unrealized appreciation/(depreciation)		(231	)		—
Net purchases/sales		—			—
Net transfer in and/or out of Level 3		—			—

Ending balance as of August 31, 2010	$	6,391		$	363

Changes in unrealized gains/losses included in earnings related to securities still held at reporting date.	$	(231	)	$	—


	Number of Shares		Acquisition Date		Right to Acquire Date		Cost ($Thousands)		Market Value ($Thousands)		% of Net Assets
VSS AHC		43		9/25/09		9/25/09	$	551	$	519		0.03	%


Credit Default Swap
Counterparty	Reference Entity/Obligation	Buy/Sell Protection	(Pays)/Receives Rate			Termination Date		Notional Amount (Thousands)			Net Unrealized Depreciation ($Thousands)
Credit Suisse	ABX.HE.AAA 07-1 Index	SELL		0.09	%		08/25/37	$	(1,205	)	$	(455	)


WRITTEN CREDIT DERIVATIVE CONTRACTS	SINGLE NAME CDS				CREDIT DEFAULT SWAP INDEX
REFERENCE ASSET	CORP US$		SOVEREIGN US$		ABS US$			CORP US$		Total
Fair value written credit derivatives		—		—		(657,395	)		—		(657,395	)
Maximum potential amount of future payments		—		—		(1,204,500	)		—		(1,204,500	)
Recourse provisions with third parties to recover any amounts paid under the credit derivative (including any purchased credit protection)²		—		—		—			—		—
Collateral held by the Fund can obtain upon occurrence of triggering event		—		—		—			—		—


SEI Institutional Investments Trust

By		\S\ ROBERT A. NESHER
		Robert A. Nesher, President & CEO



By		\S\ STEPHEN F. PANNER
		Stephen F. Panner, Controller & CFO