Sa Funds Investment Trust N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-09195

SA FUNDS – INVESTMENT TRUST

(Exact name of registrant as specified in charter)

10 Almaden Blvd., 15^th Floor, San Jose, CA 95113

(Address of principal executive offices) (zip code)

Deborah Djeu, Esq.
Chief Compliance Officer
SA Funds – Investment Trust
10 Almaden Blvd., 15^th Floor,
San Jose, CA 95113
(Name and Address of Agent for Service)

Copies to:

Brian F. Link, Esq.	Mark D. Perlow, Esq.
Vice President and Managing Counsel	Counsel to the Trust
State Street Bank and Trust Company	Dechert LLP
100 Summer Street, 7th Floor	One Bush Street, Suite 1600
Boston, Massachusetts 02111	San Francisco, California 94104-4446

Registrant’s telephone number, including area code: (844) 366-0905

Date of fiscal year end: June 30
Date of reporting period: December 31, 2017

Item 1. Report to Shareholders.

SEMI-ANNUAL REPORT
December 31, 2017

TABLE OF CONTENTS

	Page
Portfolios of Investments
SA U.S. Fixed Income Fund	1
SA Global Fixed Income Fund	4
SA U.S. Core Market Fund	9
SA U.S. Value Fund	13
SA U.S. Small Company Fund	16
SA International Value Fund	20
SA International Small Company Fund	23
SA Emerging Markets Value Fund	24
SA Real Estate Securities Fund	27
SA Worldwide Moderate Growth Fund	30
Statements of Assets and Liabilities	32
Statements of Operations	36
Statements of Changes in Net Assets	38
Financial Highlights	45
Notes to Financial Statements	64
Proxy Voting Policies and Procedures	80
Quarterly Portfolio Schedule	80
Semi-Annual Portfolio Schedule	80
Understanding Your Fund’s Expenses	81
Selected Financial Statements of DFA Investment Dimensions Group Inc.	83

Any information in this shareholder report regarding market or economic trends or the factors influencing the performance of SA Funds – Investment Trust (the “Trust”) are statements of the opinion of Trust management as of the date of this report. Any such opinion is subject to change at any time based upon market or other conditions and we disclaim responsibility to update such opinions. These statements should not be relied upon as investment advice. Past performance is no guarantee of future results, and there is no guarantee that stated investment objectives will be achieved.

SA U.S. Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		FACE AMOUNT			VALUE†
BONDS AND NOTES — 99.0%
Australia — 3.8%
	Australia & New Zealand
	Banking Group Ltd. MTN,
	1.600%, 7/15/19	USD		2,250,000	$	2,229,261
	Australia & New Zealand
	Banking Group Ltd. MTN,
	2.250%, 6/13/19	USD		2,500,000		2,503,590
	Commonwealth Bank of Australia,
	2.300%, 9/06/19	USD		1,902,000		1,905,060
	Commonwealth Bank of Australia,
	5.000%, 10/15/19	USD		1,400,000		1,464,897
	National Australia Bank Ltd.,
	1.375%, 7/12/19	USD		1,000,000		987,753
	National Australia Bank Ltd.,
	2.250%, 7/01/19	USD		2,500,000		2,502,180
	Westpac Banking Corp.,
	1.650%, 5/13/19	USD		1,000,000		993,667
	Westpac Banking Corp.,
	1.950%, 11/23/18	USD		1,125,000		1,123,787
	Westpac Banking Corp.,
	2.250%, 1/17/19	USD		9,253,000		9,280,552
						22,990,747
Canada — 5.4%
	Province of Ontario Canada,
	1.250%, 6/17/19	USD		2,650,000		2,617,307
	Province of Ontario Canada,
	2.000%, 1/30/19	USD		4,500,000		4,500,525
	Royal Bank of Canada,
	1.500%, 7/29/19	USD		6,000,000		5,932,784
	Royal Bank of Canada GMTN,
	1.625%, 4/15/19	USD		1,000,000		993,178
	Royal Bank of Canada GMTN,
	2.150%, 3/15/19	USD		2,000,000		2,000,440
	Toronto-Dominion Bank (The),
	2.125%, 7/02/19	USD		11,247,000		11,248,175
	Toronto-Dominion Bank (The)
	MTN, 1.900%, 10/24/19	USD		6,000,000		5,967,289
						33,259,698
France — 0.7%
	Total Capital SA, 2.125%, 8/10/18	USD		4,624,000		4,635,974
Netherlands — 3.9%
	Cooperatieve Rabobank UA,
	1.375%, 8/09/19	USD		880,000		868,406
	Cooperatieve Rabobank UA,
	2.250%, 1/14/19	USD		7,000,000		7,008,594
	Nederlandse Waterschapsbank
	NV, 1.750%, 9/05/19 ±	USD		1,000,000		994,301
	Shell International Finance BV,
	1.375%, 9/12/19	USD		1,500,000		1,481,969
	Shell International Finance BV,
	1.625%, 11/10/18	USD		5,470,000		5,456,827
	Shell International Finance BV,
	1.900%, 8/10/18	USD		5,835,000		5,836,418
	Shell International Finance BV,
	2.000%, 11/15/18	USD		1,897,000		1,898,304
						23,544,819
New Zealand — 0.1%
	ANZ New Zealand Int’l Ltd.,
	2.600%, 9/23/19	USD		336,000		337,280
Supranational — 0.2%
	European Investment Bank GMTN,
	1.625%, 12/18/18	USD		1,000,000		997,614
Sweden — 1.6%
	Svensk Exportkredit AB MTN,
	1.125%, 8/28/19	USD		800,000		787,680
	Svenska Handelsbanken AB,
	2.500%, 1/25/19	USD		5,000,000		5,020,034
	Svenska Handelsbanken AB MTN,
	2.250%, 6/17/19	USD		3,912,000		3,914,550
						9,722,264
United Kingdom — 0.3%
	AstraZeneca PLC, 1.750%,
	11/16/18	USD		1,875,000		1,870,721
United States — 83.0%
	3M Co. MTN, 1.375%, 8/07/18		$	2,000,000		1,995,712
	3M Co. MTN, 1.625%, 6/15/19			10,000,000		9,952,707
	Aetna, Inc., 1.700%, 6/07/18			1,300,000		1,298,095
	American Express Co.,
	7.000%, 3/19/18			300,000		303,229
	American Express Credit Corp.,
	2.125%, 7/27/18			3,000,000		3,003,783
	Apple, Inc., 1.500%, 9/12/19			3,300,000		3,273,292
	Apple, Inc., 1.550%, 2/08/19			6,143,000		6,123,962
	Apple, Inc., 2.100%, 5/06/19			8,200,000		8,220,455
	AT&T, Inc., 2.300%, 3/11/19			3,250,000		3,254,423
	AT&T, Inc., 2.375%, 11/27/18			1,000,000		1,003,287
	Bank of America Corp. MTN,
	5.650%, 5/01/18			2,000,000		2,023,967
	Berkshire Hathaway Finance
	Corp., 1.300%, 8/15/19			3,000,000		2,962,816
	Berkshire Hathaway, Inc.,
	2.100%, 8/14/19			603,000		603,430
	Boston Scientific Corp.,
	2.650%, 10/01/18			640,000		642,644
	Bristol-Myers Squibb Co.,
	1.600%, 2/27/19			4,000,000		3,981,547
	Caterpillar Financial Services
	Corp., 2.450%, 9/06/18			1,000,000		1,003,478
	Caterpillar Financial Services Corp.
	MTN, 1.900%, 3/22/19			3,000,000		2,995,965
	Chevron Corp.,
	1.561%, 5/16/19			13,100,000		13,027,778
	Chevron Corp.,
	1.686%, 2/28/19			2,500,000		2,493,912
	Chevron Corp.,
	1.790%, 11/16/18			250,000		249,639
	Cisco Systems, Inc.,
	1.400%, 9/20/19			1,852,000		1,833,143

The accompanying notes are an integral part of these financial statements.
1

SA U.S. Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		FACE
		AMOUNT		VALUE†
BONDS AND NOTES (Continued)
United States (Continued)
	Cisco Systems, Inc.,
	1.600%, 2/28/19	$	625,000	$	622,414
	Cisco Systems, Inc.,
	2.125%, 3/01/19		9,378,000		9,390,141
	Citigroup, Inc., 2.050%, 12/07/18		2,500,000		2,497,956
	Citigroup, Inc., 2.500%, 9/26/18		3,340,000		3,350,179
	Coca-Cola Co. (The),
	1.375%, 5/30/19		2,878,000		2,854,477
	Corning, Inc., 1.500%, 5/08/18		1,000,000		998,517
	Dover Corp., 5.450%, 3/15/18		1,500,000		1,510,102
	Exxon Mobil Corp.,
	1.708%, 3/01/19		4,130,000		4,121,050
	Federal Home Loan Banks,
	1.250%, 1/16/19		4,000,000		3,975,276
	Federal Home Loan Banks,
	1.375%, 3/18/19		59,250,000		58,914,349
	Federal Home Loan Banks,
	1.375%, 9/13/19		4,500,000		4,459,041
	Federal Home Loan Banks,
	1.500%, 3/08/19		18,000,000		17,928,162
	Federal Home Loan Banks,
	1.500%, 10/21/19		34,500,000		34,254,395
	Federal Home Loan Banks,
	1.625%, 6/14/19		19,500,000		19,425,081
	Federal Home Loan Banks,
	2.000%, 9/13/19		25,000,000		25,036,575
	Federal Home Loan Banks,
	5.375%, 5/15/19		3,230,000		3,380,201
	Federal Home Loan Mortgage
	Corp., 1.250%, 10/02/19		13,500,000		13,341,524
	Federal Home Loan Mortgage
	Corp., 3.750%, 3/27/19		10,000,000		10,235,080
	Federal National Mortgage
	Association, 0.875%, 8/02/19		2,500,000		2,460,315
	Federal National Mortgage
	Association, 1.000%, 10/24/19		6,500,000		6,395,149
	Federal National Mortgage
	Association, 1.750%, 9/12/19		8,500,000		8,477,339
	Ford Motor Credit Co. LLC,
	2.240%, 6/15/18		1,000,000		1,001,058
	Ford Motor Credit Co. LLC,
	2.551%, 10/05/18		1,500,000		1,504,638
	Ford Motor Credit Co. LLC,
	5.000%, 5/15/18		2,900,000		2,929,787
	General Electric Co. GMTN,
	5.625%, 5/01/18		6,466,000		6,543,469
	Georgia Power Co.,
	1.950%, 12/01/18		1,698,000		1,696,626
	Gilead Sciences, Inc.,
	1.850%, 9/04/18		2,793,000		2,793,388
	Goldman Sachs Group, Inc. (The),
	2.625%, 1/31/19		2,000,000		2,009,170
	Goldman Sachs Group, Inc. (The),
	6.150%, 4/01/18		2,800,000		2,829,643
	Harley-Davidson Financial
	Services, Inc.,
	2.250%, 1/15/19 ±		680,000		680,212
	Intercontinental Exchange, Inc.,
	2.500%, 10/15/18		2,000,000		2,008,420
	JPMorgan Chase & Co.,
	6.300%, 4/23/19		1,030,000		1,084,586
	KeyBank NA/Cleveland OH,
	2.350%, 3/08/19		4,500,000		4,509,036
	McDonald’s Corp. MTN,
	2.100%, 12/07/18		3,000,000		3,003,751
	Microsoft Corp.,
	1.300%, 11/03/18		9,205,000		9,173,329
	Microsoft Corp.,
	4.200%, 6/01/19		2,000,000		2,061,296
	Morgan Stanley GMTN,
	2.450%, 2/01/19		5,500,000		5,515,392
	Oracle Corp., 2.250%, 10/08/19		3,950,000		3,968,884
	Oracle Corp., 2.375%, 1/15/19		6,195,000		6,221,806
	Pfizer, Inc., 2.100%, 5/15/19		4,777,000		4,785,449
	Philip Morris International, Inc.,
	1.875%, 1/15/19		1,500,000		1,497,426
	Procter & Gamble Co. (The),
	1.750%, 10/25/19		2,900,000		2,891,778
	Southern Power Co.,
	1.500%, 6/01/18		3,500,000		3,494,795
	Stryker Corp.,
	1.300%, 4/01/18		3,000,000		2,995,943
	Toyota Motor Credit Corp. MTN,
	1.400%, 5/20/19		1,600,000		1,585,874
	Toyota Motor Credit Corp. MTN,
	1.700%, 1/09/19		13,000,000		12,975,050
	Toyota Motor Credit Corp. MTN,
	1.700%, 2/19/19		2,220,000		2,210,484
	Toyota Motor Credit Corp. MTN,
	2.125%, 7/18/19		669,000		669,171
	United States Treasury Note,
	0.750%, 2/15/19		10,000,000		9,879,883
	United States Treasury Note,
	0.875%, 4/15/19		2,000,000		1,975,469
	United States Treasury Note,
	0.875%, 9/15/19		20,000,000		19,665,634
	United States Treasury Note,
	1.000%, 10/15/19		23,000,000		22,652,305
	United States Treasury Note,
	1.250%, 12/31/18		3,000,000		2,983,652
	United States Treasury Note,
	1.500%, 12/31/18		5,000,000		4,984,668
	United States Treasury Note,
	1.500%, 2/28/19		19,000,000		18,926,523
	United States Treasury Note,
	2.750%, 2/15/19		9,000,000		9,090,703
	Wal-Mart Stores, Inc., 1.750%,
	10/09/19		15,627,000		15,575,543
	Wal-Mart Stores, Inc., 1.950%,
	12/15/18		2,571,000		2,571,900
	Wells Fargo & Co., 2.150%,
	1/15/19		1,000,000		1,001,758
					505,823,086
	TOTAL BONDS AND NOTES
	(Identified Cost $605,900,605)				603,182,203

The accompanying notes are an integral part of these financial statements.
2

SA U.S. Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
SHORT-TERM INVESTMENTS — 0.4%
Investment Company — 0.4%
	State Street Institutional U.S.
	Government Money Market
	Fund, 1.210%	2,316,067	$	2,316,067
	TOTAL SHORT-TERM
	INVESTMENTS
	(Identified Cost $2,316,067)			2,316,067
Total Investments — 99.4%
	(Identified Cost $608,216,672)#			605,498,270
	Cash and Other Assets, Less
	Liabilities — 0.6%			3,554,855
Net Assets — 100.0%			$	609,053,125

†	See Note 1
±	144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at December 31, 2017 amounted to $1,674,513 or 0.27% of the net assets of the Fund.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $608,216,672. Net unrealized depreciation aggregated $2,718,402 of which $1,092 related to appreciated investment securities and $2,719,494 related to depreciated investment securities.

Key to abbreviations:
GMTN — Global Medium Term Note
MTN — Medium Term Note
USD — U.S. Dollar

Portfolio Sectors
(As a percentage of long-term investments)

The accompanying notes are an integral part of these financial statements.
3

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		FACE AMOUNT		VALUE†
BONDS AND NOTES — 99.2%
Australia — 8.7%
	Australia & New Zealand        Banking Group Ltd,        2.550%, 11/23/21	USD	1,200,000	$	1,194,635
	Australia & New Zealand        Banking Group Ltd. MTN,        2.250%, 6/13/19	USD	2,736,000		2,739,928
	Australia & New Zealand        Banking Group Ltd. MTN,        2.300%, 6/01/21	USD	3,750,000		3,719,715
	Australia & New Zealand        Banking Group Ltd. MTN,        2.700%, 11/16/20	USD	1,661,000		1,671,439
	Commonwealth Bank of Australia,        0.500%, 7/11/22	EUR	500,000		603,768
	Commonwealth Bank of Australia,        2.050%, 9/18/20±	USD	2,000,000		1,979,812
	Commonwealth Bank of Australia,        2.250%, 3/10/20±	USD	4,500,000		4,487,570
	Commonwealth Bank of Australia,        2.300%, 9/06/19	USD	1,350,000		1,352,172
	Commonwealth Bank of Australia,        5.000%, 10/15/19	USD	1,000,000		1,046,355
	Commonwealth Bank of Australia,        7.250%, 2/05/20	AUD	3,000,000		2,567,333
	Commonwealth Bank of Australia        GMTN, 2.300%, 3/12/20	USD	3,000,000		3,002,681
	National Australia Bank Ltd.,        2.400%, 12/09/19±	USD	8,000,000		8,014,259
	National Australia Bank Ltd.        GMTN, 0.350%, 9/07/22	EUR	3,150,000		3,770,413
	National Australia Bank Ltd.        GMTN, 0.875%, 1/20/22	EUR	1,500,000		1,841,066
	National Australia Bank Ltd.        GMTN, 2.625%, 7/23/20@	USD	5,000,000		5,028,244
	Westpac Banking Corp.,        0.250%, 1/17/22	EUR	1,000,000		1,198,117
	Westpac Banking Corp.,        2.600%, 11/23/20	USD	16,825,000		16,900,337
	Westpac Banking Corp.,        4.875%, 11/19/19	USD	1,500,000		1,572,892
					62,690,736
Austria — 2.5%
	Oesterreichische Kontrollbank        AG, 1.625%, 3/12/19	USD	11,000,000		10,955,975
	Oesterreichische Kontrollbank        AG, 1.750%, 1/24/20	USD	6,000,000		5,959,559
	Republic of Austria Government        Bond, 0.000%, 9/20/22±	EUR	1,000,000		1,208,498
					18,124,032
Canada — 20.9%
	Bank of Montreal MTN,        1.900%, 8/27/21@	USD	2,000,000		1,958,896
	Bank of Nova Scotia (The),        2.350%, 10/21/20	USD	2,000,000		1,995,762
	Bank of Nova Scotia (The),        2.800%, 7/21/21	USD	1,561,000		1,575,877
	Bank of Nova Scotia (The),        4.375%, 1/13/21	USD	3,000,000		3,166,928
	Canada Housing Trust No 1,        1.250%, 12/15/20±	CAD	3,000,000		2,341,694
	Canada Housing Trust No. 1,        1.200%, 6/15/20±	CAD	3,000,000		2,350,239
	Canada Housing Trust No. 1,        1.750%, 6/15/22±	CAD	3,000,000		2,351,504
	CPPIB Capital, Inc.,        1.400%, 6/04/20	CAD	19,500,000		15,326,659
	CPPIB Capital, Inc.,        2.250%, 1/25/22±	USD	4,000,000		3,966,039
	Province of Alberta Canada,        1.350%, 9/01/21	CAD	7,000,000		5,425,084
	Province of Alberta Canada,        1.750%, 8/26/20±	USD	2,000,000		1,971,599
	Province of Alberta Canada,        1.900%, 12/06/19	USD	600,000		595,880
	Province of British Columbia        Canada, 3.700%, 12/18/20	CAD	17,500,000		14,624,403
	Province of Manitoba Canada,        1.550%, 9/05/21	CAD	2,000,000		1,561,161
	Province of Ontario Canada,        2.100%, 9/08/19	CAD	2,500,000		1,999,383
	Province of Ontario Canada,        2.500%, 9/10/21	USD	11,082,000		11,098,464
	Province of Ontario Canada,        4.200%, 6/02/20	CAD	7,000,000		5,867,860
	Province of Quebec Canada,        2.750%, 8/25/21@	USD	8,000,000		8,089,569
	Province of Quebec Canada,        3.500%, 7/29/20	USD	1,292,000		1,332,459
	Province of Quebec Canada,        4.500%, 12/01/20	CAD	13,000,000		11,075,131
	Royal Bank of Canada,        1.920%, 7/17/20	CAD	14,000,000		11,045,744
	Royal Bank of Canada,        2.350%, 12/09/19	CAD	2,500,000		1,996,340
	Royal Bank of Canada GMTN,        2.500%, 1/19/21	USD	5,000,000		5,017,004
	Royal Bank of Canada MTN,        2.350%, 10/30/20	USD	1,910,000		1,910,338
	Toronto-Dominion Bank (The),        1.800%, 7/13/21@	USD	9,750,000		9,552,712
	Toronto-Dominion Bank (The)        GMTN, 2.500%, 12/14/20	USD	1,500,000		1,505,435
	Toronto-Dominion Bank (The)        MTN, 2.125%, 4/07/21@	USD	10,000,000		9,909,409
	Total Capital Canada Ltd.,        1.125%, 3/18/22	EUR	2,000,000		2,491,141
	Toyota Credit Canada, Inc. MTN,        1.800%, 2/19/20	CAD	11,000,000		8,679,761
					150,782,475

The accompanying notes are an integral part of these financial statements.
4

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		FACE AMOUNT		VALUE†
BONDS AND NOTES (Continued)
Finland — 0.4%
	OP Corporate Bank PLC,
	0.375%, 10/11/22	EUR	300,000	$	360,419
	OP Corporate Bank PLC,
	0.750%, 3/03/22	EUR	300,000		367,379
	OP Corporate Bank PLC,
	2.500%, 5/20/22	GBP	1,642,000		2,333,976
					3,061,774
France — 8.8%
	Agence Francaise de
	Developpement,
	1.625%, 1/21/20	USD	20,000,000		19,761,080
	Caisse d’Amortissement de la
	Dette Sociale,
	0.125%, 11/25/22	EUR	5,300,000		6,402,946
	Caisse d’Amortissement de la
	Dette Sociale,
	2.000%, 3/22/21	USD	7,000,000		6,924,183
	Dexia Credit Local SA,
	0.250%, 6/02/22	EUR	1,350,000		1,631,121
	Dexia Credit Local SA,
	1.125%, 6/15/22	GBP	500,000		674,155
	Dexia Credit Local SA,
	1.875%, 1/29/20	USD	5,898,000		5,849,246
	French Republic
	Government Bond OAT,
	0.000%, 5/25/22	EUR	5,500,000		6,640,792
	French Republic
	Government Bond OAT,
	3.000%, 4/25/22	EUR	2,800,000		3,824,611
	Sanofi, 4.000%, 3/29/21	USD	4,280,000		4,505,366
	Total Capital International SA,
	2.100%, 6/19/19	USD	2,080,000		2,079,685
	Total Capital International SA,
	2.750%, 6/19/21	USD	1,922,000		1,942,265
	UNEDIC ASSEO,
	0.875%, 10/25/22	EUR	2,500,000		3,126,705
					63,362,155
Germany — 2.5%
	FMS Wertmanagement AoeR,
	1.375%, 6/08/21	USD	5,000,000		4,862,832
	KFW, 0.000%, 12/15/22	EUR	4,000,000		4,808,674
	KFW, 0.875%, 3/15/22	GBP	1,000,000		1,348,342
	KFW, 1.625%, 3/15/21@	USD	2,000,000		1,965,020
	KFW MTN, 6.000%, 8/20/20	AUD	3,000,000		2,557,956
	Landwirtschaftliche
	Rentenbank MTN,
	5.500%, 3/29/22	AUD	3,000,000		2,609,994
					18,152,818
Ireland — 2.8%
	GE Capital International
	Funding Co., Unlimited Co.,
	2.342%, 11/15/20	USD	20,500,000		20,413,918
Luxembourg — 0.8%
	European Financial
	Stability Facility,
	0.000%, 11/17/22	EUR	4,500,000		5,415,136
Netherlands — 7.9%
	Bank Nederlandse Gemeenten
	NV, 1.000%, 3/15/22	GBP	500,000		675,476
	Bank Nederlandse Gemeenten
	NV, 1.625%, 4/19/21	USD	14,500,000		14,195,543
	Bank Nederlandse Gemeenten
	NV, 2.375%, 2/01/22	USD	3,000,000		3,000,621
	Cooperatieve Centrale
	Raiffeisen-Boerenleenbank BA,
	4.750%, 6/06/22	EUR	5,070,000		7,294,469
	Cooperatieve Centrale
	Raiffeisen-Boerenleenbank BA
	GMTN, 2.500%, 1/19/21	USD	9,391,000		9,438,113
	Cooperatieve Centrale Raiffeisen-
	Boerenleenbank BA GMTN,
	4.000%, 1/11/22	EUR	1,000,000		1,383,840
	Shell International Finance BV,
	1.750%, 9/12/21@	USD	2,500,000		2,440,892
	Shell International Finance BV,
	2.125%, 5/11/20	USD	13,495,000		13,471,550
	Shell International Finance BV,
	2.250%, 11/10/20	USD	5,100,000		5,100,728
					57,001,232
New Zealand — 0.2%
	ANZ New Zealand Int’l Ltd.,
	0.400%, 3/01/22	EUR	355,000		426,541
	ASB Finance Ltd.,
	0.500%, 6/10/22	EUR	800,000		962,170
					1,388,711
Norway — 1.8%
	Kommunalbanken AS,
	1.625%, 2/10/21	USD	5,000,000		4,908,855
	Statoil ASA, 2.250%, 11/08/19	USD	4,800,000		4,800,922
	Statoil ASA, 2.900%, 11/08/20	USD	3,000,000		3,050,714
					12,760,491
Singapore — 1.1%
	Singapore Government Bond,
	1.250%, 10/01/21	SGD	6,000,000		4,415,268
	Singapore Government Bond,
	1.625%, 10/01/19	SGD	5,000,000		3,737,710
					8,152,978
Supranational — 2.6%
	Council of Europe Development
	Bank, 1.625%, 3/16/21	USD	2,500,000		2,455,776
	EUROFIMA, 1.750%, 5/29/20	USD	2,000,000		1,981,084
	EUROFIMA MTN,
	5.500%, 6/30/20	AUD	5,700,000		4,773,961
	European Investment Bank,
	1.625%, 6/15/21@	USD	2,250,000		2,205,121

The accompanying notes are an integral part of these financial statements.
5

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		FACE AMOUNT		VALUE†
BONDS AND NOTES (Continued)
Supranational (Continued)
	European Investment Bank,
	1.875%, 3/15/19	USD	3,000,000	$	2,996,999
	European Stability Mechanism,
	0.000%, 10/18/22	EUR	450,000		541,700
	International Bank for
	Reconstruction & Development,
	1.625%, 3/09/21	USD	4,000,000		3,935,020
					18,889,661
Sweden — 9.9%
	Kommuninvest I Sverige AB,
	0.250%, 6/01/22	SEK	113,000,000		13,711,831
	Kommuninvest I Sverige AB,
	2.500%, 12/01/20	SEK	15,000,000		1,960,707
	Nordea Bank AB,
	2.375%, 4/04/19	USD	15,000,000		15,037,822
	Nordea Bank AB,
	2.500%, 9/17/20±	USD	4,000,000		4,006,087
	Skandinaviska Enskilda
	Banken AB GMTN,
	0.300%, 2/17/22	EUR	918,000		1,105,864
	Svensk Exportkredit AB GMTN,
	1.750%, 3/10/21@	USD	3,500,000		3,445,782
	Svensk Exportkredit AB GMTN,
	2.375%, 3/09/22	USD	5,000,000		5,000,071
	Svenska Handelsbanken AB,
	0.250%, 2/28/22	EUR	250,000		300,073
	Svenska Handelsbanken AB,
	1.125%, 12/14/22	EUR	1,500,000		1,867,172
	Svenska Handelsbanken AB,
	5.125%, 3/30/20±	USD	5,000,000		5,305,449
	Sweden Government Bond,
	3.500%, 6/01/22	SEK	100,000,000		14,141,995
	Sweden Government Bond,
	5.000%, 12/01/20	SEK	41,100,000		5,806,067
					71,688,920
United States — 28.3%
	Alphabet, Inc.,
	3.625%, 5/19/21	USD	6,929,000		7,257,045
	Apple, Inc., 1.550%, 2/07/20	USD	4,000,000		3,957,339
	Apple, Inc., 1.550%, 8/04/21	USD	5,000,000		4,860,130
	Apple, Inc., 2.100%, 5/06/19	USD	4,000,000		4,009,978
	Apple, Inc., 2.850%, 5/06/21	USD	3,000,000		3,049,581
	Berkshire Hathaway, Inc.,
	2.100%, 8/14/19	USD	11,500,000		11,508,201
	Berkshire Hathaway, Inc.,
	2.200%, 3/15/21	USD	2,500,000		2,493,307
	Berkshire Hathaway, Inc.,
	3.750%, 8/15/21@	USD	1,200,000		1,260,516
	Chevron Corp.,
	1.961%, 3/03/20	USD	6,600,000		6,578,876
	Chevron Corp.,
	2.100%, 5/16/21	USD	1,173,000		1,163,962
	Chevron Corp.,
	2.193%, 11/15/19	USD	11,000,000		11,026,298
	Chevron Corp.,
	2.419%, 11/17/20	USD	500,000		503,225
	Cisco Systems, Inc.,
	2.200%, 2/28/21	USD	7,950,000		7,928,382
	Cisco Systems, Inc.,
	4.450%, 1/15/20	USD	7,000,000		7,322,462
	Coca-Cola Co. (The),
	1.875%, 10/27/20	USD	2,000,000		1,990,477
	Coca-Cola Co. (The),
	3.150%, 11/15/20	USD	1,970,000		2,024,578
	Coca-Cola Co. (The),
	3.300%, 9/01/21	USD	10,645,000		11,008,333
	Coca-Cola Co. (The) MTN,
	2.600%, 6/09/20	AUD	2,500,000		1,959,269
	Exxon Mobil Corp.,
	1.819%, 3/15/19	USD	6,300,000		6,291,054
	Exxon Mobil Corp.,
	1.912%, 3/06/20	USD	3,400,000		3,383,486
	Exxon Mobil Corp.,
	2.222%, 3/01/21	USD	6,450,000		6,438,497
	Federal National
	Mortgage Association,
	1.500%, 6/22/20	USD	1,500,000		1,482,739
	General Electric Co.,
	0.375%, 5/17/22	EUR	400,000		479,711
	International Business Machines
	Corp., 2.500%, 1/27/22@	USD	5,620,000		5,641,888
	Johnson & Johnson,
	2.250%, 3/03/22	USD	800,000		799,476
	Merck & Co., Inc.,
	1.850%, 2/10/20	USD	15,500,000		15,418,368
	Merck & Co., Inc.,
	3.875%, 1/15/21	USD	3,000,000		3,134,044
	Merck Sharp & Dohme Corp.,
	5.000%, 6/30/19	USD	1,250,000		1,303,903
	Microsoft Corp.,
	1.550%, 8/08/21	USD	11,000,000		10,715,979
	Oracle Corp., 1.900%, 9/15/21	USD	7,500,000		7,385,568
	Oracle Corp., 2.800%, 7/08/21	USD	13,500,000		13,705,358
	Pfizer, Inc., 1.950%, 6/03/21	USD	4,000,000		3,952,441
	Pfizer, Inc., 2.100%, 5/15/19	USD	15,375,000		15,402,194
	Toyota Motor Credit Corp. MTN,
	1.550%, 10/18/19	USD	863,000		855,563
	Toyota Motor Credit Corp. MTN,
	2.125%, 7/18/19	USD	7,000,000		7,001,791
	Toyota Motor Credit Corp. MTN,
	2.150%, 3/12/20	USD	3,000,000		2,991,485
	Toyota Motor Credit Corp. MTN,
	2.600%, 1/11/22	USD	1,000,000		1,005,945
	United States Treasury Note,
	1.125%, 7/31/21	USD	3,000,000		2,901,562
	US Bank NA/Cincinnati OH,
	2.125%, 10/28/19	USD	4,500,000		4,502,785
					204,695,796
	TOTAL BONDS AND NOTES
	(Identified Cost
	$718,319,529)				716,580,833

The accompanying notes are an integral part of these financial statements.
6

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
SHORT-TERM INVESTMENTS — 3.6%
Investment Company — 0.3%
	State Street Institutional U.S.
	Government Money Market
	Fund, 1.210%	2,486,491	$	2,486,491
Collateral For Securities On Loan — 3.3%
	State Street Navigator Securities
	Lending Government Money
	Market Portfolio, 1.300%	23,807,013		23,807,013
	TOTAL SHORT-TERM
	INVESTMENTS
	(Identified Cost $26,293,504)			26,293,504
Total Investments — 102.8%
	(Identified Cost $744,613,033)#			742,874,337
	Liabilities, Less Cash and Other
	Assets — (2.8%)			(19,887,753	)
Net Assets — 100.0%			$	722,986,584

†	See Note 1
±	144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at December 31, 2017 amounted to $37,982,749 or 5.25% of the net assets of the Fund.
@	A portion or all of the security was held on loan. As of December 31, 2017, the market value of the securities on loan was $25,661,611.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $744,613,033. Net unrealized depreciation aggregated $1,738,696 of which $2,934,169 related to appreciated investment securities and $4,672,865 related to depreciated investment securities.

Key to abbreviations:
AUD — Australian Dollar
CAD — Canadian Dollar
EUR — Euro Currency
GBP — British Pound
GMTN — Global Medium Term Note
MTN — Medium Term Note
SEK — Swedish Krona
SGD — Singapore Dollar
USD — U.S. Dollar

Country Weightings
(As a percentage of long-term investments)

The accompanying notes are an integral part of these financial statements.
7

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

Forward Foreign Currency Exchange Contracts Sold outstanding as of December 31, 2017
Settlement Date	Currency Purchased		Currency Sold		Counterparty	Total Value as of December 31, 2017		Unrealized Appreciation/ (Depreciation)
01/09/18	USD	36,713,182	SEK	294,206,270	Citibank N.A. London	$	35,877,888	$	835,294
01/11/18	USD	10,147,819	EUR	8,553,568	Bank of America, N.A.		10,267,854		(120,035	)
01/11/18	USD	33,359,782	EUR	28,018,371	Citibank N.A. London		33,633,747		(273,965	)
01/11/18	USD	4,646,540	EUR	3,904,452	HSBC Bank USA		4,686,973		(40,433	)
01/11/18	USD	9,756,479	EUR	8,282,838	State Street Bank and Trust Co.		9,942,865		(186,386	)
01/12/18	USD	4,996,221	GBP	3,761,546	State Street Bank and Trust Co.		5,080,078		(83,857	)
01/22/18	USD	67,850,859	CAD	86,484,944	Bank of America, N.A.		68,825,931		(975,072	)
01/22/18	USD	16,265,968	CAD	20,798,326	State Street Bank and Trust Co.		16,551,600		(285,632	)
02/05/18	USD	14,545,577	AUD	18,956,615	State Street Bank and Trust Co.		14,791,284		(245,707	)
02/07/18	USD	8,072,929	SGD	10,978,290	State Street Bank and Trust Co.		8,212,773		(139,844	)
Total								$	(1,515,637	)

The accompanying notes are an integral part of these financial statements.
8

SA U.S. Core Market Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 95.4%
Aerospace & Defense — 3.2%
	Boeing Co. (The)	25,620	$	7,555,594
	Lockheed Martin Corp.	12,054		3,869,937
	Other Securities^	102,803		14,076,596
				25,502,127
Air Freight & Logistics — 1.0%
	United Parcel Service, Inc., Class B	32,513		3,873,924
	Other Securities^@	26,824		3,748,133
				7,622,057
Airlines — 0.9%
	Other Securities^	127,596		7,289,112
Auto Components — 0.5%
	Other Securities^	68,789		3,950,194
Automobiles — 0.6%
	Other Securities^	187,214		4,673,056
Beverages — 2.5%
	Coca-Cola Co. (The)	159,849		7,333,872
	PepsiCo, Inc.	67,969		8,150,843
	Other Securities^@	42,893		4,081,669
				19,566,384
Biotechnology — 3.2%
	AbbVie, Inc.	75,823		7,332,842
	Amgen, Inc.	21,789		3,789,107
	Gilead Sciences, Inc.	61,720		4,421,621
	Other Securities^	83,079		9,437,539
				24,981,109
Building Products — 0.4%
	Other Securities^@	51,166		2,863,082
Capital markets— 2.3%
	Other Securities^@	225,764		18,161,854
Chemicals — 2.7%
	DowDuPont, Inc.	72,372		5,154,334
	Other Securities^	163,790		15,920,108
				21,074,442
Commercial Banks — 3.5%
	JPMorgan Chase & Co.	71,602		7,657,118
	Wells Fargo & Co.	96,745		5,869,519
	Other Securities^	350,159		14,075,604
				27,602,241
Commercial Services & Supplies — 0.6%
	Other Securities^	88,033		4,998,296
Communications Equipment — 0.8%
	Cisco Systems, Inc.	101,185		3,875,385
	Other Securities^	48,301		2,489,991
				6,365,376
Computers & Peripherals — 4.6%
	Apple, Inc.	193,269		32,706,913
	Other Securities^	119,788		3,301,985
				36,008,898
Construction & Engineering — 0.1%
	Other Securities^	22,962		1,101,230
Construction Materials — 0.1%
	Other Securities^	6,160		742,179
Consumer Finance — 0.8%
	Other Securities^	113,405		6,481,102
Containers & Packaging — 0.6%
	Other Securities^	84,882		4,355,941
Distributors — 0.2%
	Other Securities^	17,405		1,173,583
Diversified Consumer Services — 0.2%
	Other Securities^	30,045		1,333,288
Diversified Financial Services — 0.9%
	Berkshire Hathaway, Inc., Class B*	35,809		7,098,060
	Other Securities^	8,722		275,189
				7,373,249
Diversified Telecommunication Services — 2.5%
	AT&T, Inc.	219,157		8,520,824
	Verizon Communications, Inc.	193,995		10,268,155
	Other Securities^	43,675		794,091
				19,583,070
Electric Utilities — 1.6%
	Other Securities^	220,058		12,659,261
Electrical Equipment — 0.6%
	Other Securities^	54,733		4,620,957
Electronic Equipment, Instruments & Components — 0.8%
	Other Securities^	116,200		6,391,127
Energy Equipment & Services — 0.4%
	Other Securities^	128,138		3,030,628
Food & Staples Retailing — 2.0%
	Costco Wholesale Corp.	17,244		3,209,453
	Wal-Mart Stores, Inc.	60,220		5,946,725
	Other Securities^	168,002		6,577,671
				15,733,849
Food Products — 1.1%
	Other Securities^	151,548		8,802,118
Gas Utilities — 0.2%
	Other Securities^	19,855		1,179,753
Health Care Equipment & Supplies — 1.6%
	Other Securities^	142,084		12,223,980

The accompanying notes are an integral part of these financial statements.
9

SA U.S. Core Market Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Health Care Providers & Services — 2.6%
	UnitedHealth Group, Inc.	29,475	$	6,498,058
	Other Securities^	147,502		13,821,859
				20,319,917
Health Care Technology — 0.1%
	Other Securities^	20,358		1,048,386
Hotels, Restaurants & Leisure — 2.3%
	McDonald’s Corp.	24,762		4,262,035
	Starbucks Corp.	66,121		3,797,329
	Other Securities^	149,009		10,287,918
				18,347,282
Household Durables — 0.4%
	Other Securities^	49,440		3,469,988
Household Products — 1.6%
	Procter & Gamble Co. (The)	79,992		7,349,665
	Other Securities^	61,032		5,080,861
				12,430,526
Independent Power Producers & Energy Traders — 0.1%
	Other Securities^@	51,240		875,340
Industrial Conglomerates — 1.7%
	3M Co.	28,438		6,693,452
	Honeywell International, Inc.	28,340		4,346,222
	Other Securities^	88,446		2,145,219
				13,184,893
Insurance — 1.7%
	Other Securities^	190,159		13,273,199
Internet & Catalog Retail — 3.6%
	Amazon.com, Inc.*	19,551		22,864,308
	Other Securities^@	44,507		5,451,356
				28,315,664
Internet Software & Services — 3.6%
	Alphabet, Inc., Class A*	5,614		5,913,788
	Alphabet, Inc., Class C*	5,884		6,157,018
	Facebook, Inc., Class A*	72,830		12,851,582
	Other Securities^@	67,773		3,274,588
				28,196,976
IT Services — 5.3%
	Accenture PLC, Class A	28,710		4,395,214
	International Business
	Machines Corp.	42,481		6,517,435
	MasterCard, Inc., Class A	45,592		6,900,805
	Visa, Inc., Class A	70,380		8,024,728
	Other Securities^	229,735		16,047,456
				41,885,638
Leisure Equipment & Products — 0.1%
	Other Securities^	19,867		1,056,701
Life Sciences Tools & Services — 0.7%
	Other Securities^	36,390		5,220,606
Machinery — 2.3%
	Caterpillar, Inc.	22,217		3,500,955
	Other Securities^	170,342		15,025,485
				18,526,440
Marine — 0.0%
	Other Securities^	2,475		106,194
Media — 3.3%
	Comcast Corp., Class A	190,639		7,635,092
	Walt Disney Co. (The)	59,466		6,393,190
	Other Securities^	282,477		12,173,681
				26,201,963
Metals & Mining — 0.4%
	Other Securities^	124,745		3,161,116
Multi-Utilities — 0.8%
	Other Securities^	106,834		6,483,323
Multiline Retail — 0.6%
	Other Securities^	82,514		4,946,384
Oil, Gas & Consumable Fuels — 2.5%
	Exxon Mobil Corp.	42,621		3,564,820
	Other Securities^	332,101		16,386,700
				19,951,520
Paper & Forest Products — 0.0%
	Other Securities^	10,933		319,656
Personal Products — 0.2%
	Other Securities^@	30,157		1,591,073
Pharmaceuticals — 4.1%
	Johnson & Johnson	84,707		11,835,262
	Merck & Co., Inc.	86,668		4,876,808
	Pfizer, Inc.	183,764		6,655,932
	Other Securities^	138,214		9,031,493
				32,399,495
Professional Services — 0.3%
	Other Securities^	39,710		2,718,848
Real Estate Management & Development — 0.1%
	Other Securities^	21,417		969,459
Road & Rail — 1.1%
	Union Pacific Corp.	30,668		4,112,579
	Other Securities^	64,844		4,938,912
				9,051,491
Semiconductors & Semiconductor Equipment — 3.9%
	Intel Corp.	148,234		6,842,481
	NVIDIA Corp.	22,802		4,412,187
	Texas Instruments, Inc.	44,499		4,647,476
	Other Securities^	238,900		14,975,398
				30,877,542

The accompanying notes are an integral part of these financial statements.
10

SA U.S. Core Market Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Software — 5.2%
	Microsoft Corp.	294,435	$	25,185,970
	Other Securities^	230,956		16,160,015
				41,345,985
Specialty Retail — 3.3%
	Home Depot, Inc. (The)	55,479		10,514,935
	Lowe’s Cos., Inc.	39,150		3,638,601
	Other Securities^@	203,116		11,887,971
				26,041,507
Textiles, Apparel & Luxury Goods — 0.8%
	NIKE, Inc., Class B	51,936		3,248,597
	Other Securities^	73,039		3,429,415
				6,678,012
Thrifts & Mortgage Finance — 0.1%
	Other Securities^	23,185		482,290
Tobacco — 1.5%
	Altria Group, Inc.	91,208		6,513,163
	Philip Morris International, Inc.	48,640		5,138,816
	Other Securities^@	1,758		39,344
				11,691,323
Trading Companies & Distributors — 0.4%
	Other Securities^	46,034		3,398,398
Transportation Infrastructure — 0.0%
	Other Securities^	1,285		82,497
Water Utilities — 0.1%
	Other Securities^	9,970		666,043
Wireless Telecommunication Services — 0.1%
	Other Securities^	30,523		954,537
	TOTAL COMMON STOCKS         (Identified Cost $337,815,538)			753,713,755
RIGHTS AND WARRANTS — 0.0%
Biotechnology — 0.0%
	Other Securities^¶	1,858		6,262
Consumer Discretionary — 0.0%
	Other Securities^¶	21,220		3
	TOTAL RIGHTS AND WARRANTS        (Identified Cost $13,348)			6,265
MUTUAL FUNDS — 4.2%
Other — 4.2%
	DFA U.S. Micro Cap Portfolio	1,488,736		32,796,858
	TOTAL MUTUAL FUNDS        (Identified Cost $19,603,544)			32,796,858
SHORT-TERM INVESTMENTS — 0.7%
Investment Company — 0.1%
	State Street Institutional U.S.        Government Money Market Fund,        1.210%	1,075,348		1,075,348
Collateral For Securities On Loan — 0.6%
	State Street Navigator Securities        Lending Government Money Market        Portfolio, 1.300%	4,802,814		4,802,814
	TOTAL SHORT-TERM INVESTMENTS
	(Identified Cost $5,878,162)			5,878,162
Total Investments — 100.3%        (Identified Cost $363,310,592)#				792,395,040
	Liabilities, Less Cash and       Other Assets — (0.3%)			(2,183,684	)
Net Assets — 100.0%			$	790,211,356

†	See Note 1
^	The Summary Portfolio of Investments does not reflect the Fund’s complete portfolio holdings. “Other Securities” are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1% of the net assets of the Fund. Certain individual securities within this category may include non-income producing securities, bankrupt/delisted, and/or fair valued securities.
*	Non-income producing security
@	A portion or all of the security/securities were held on loan. As of December 31, 2017, the market value of the securities on loan was $16,782,196.
¶	Contingent value rights based on future performance
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $363,310,592. Net unrealized appreciation aggregated $429,084,448 of which $436,442,801 related to appreciated investment securities and $7,358,353 related to depreciated investment securities.

The accompanying notes are an integral part of these financial statements.
11

SA U.S. Core Market Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

Portfolio Sectors
(As a percentage of long-term investments)

The accompanying notes are an integral part of these financial statements.
12

SA U.S. Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 99.7%
Aerospace & Defense — 1.0%
	Other Securities^	102,622	$	5,948,840
Air Freight & Logistics — 0.7%
	Other Securities^@	27,310		4,312,851
Airlines — 1.1%
	Delta Air Lines, Inc.	68,152		3,816,512
	Other Securities^	86,371		3,133,771
				6,950,283
Auto Components — 1.0%
	Other Securities^	106,941		6,103,448
Automobiles — 1.8%
	Ford Motor Co.	419,903		5,244,588
	General Motors Co.	153,506		6,292,211
				11,536,799
Beverages — 0.4%
	Other Securities^	31,706		2,602,111
Biotechnology — 0.1%
	Other Securities^	3,786		560,139
Building Products — 0.5%
	Other Securities^	51,265		3,007,737
Capital Markets — 3.0%
	Bank of New York Mellon Corp. (The)	103,219		5,559,375
	Goldman Sachs Group, Inc. (The)	24,637		6,276,522
	Morgan Stanley	111,941		5,873,544
	Other Securities^	20,623		1,193,147
				18,902,588
Chemicals — 1.5%
	Other Securities^	164,325		9,084,185
Commercial Banks — 14.0%
	Bank of America Corp.	415,381		12,262,047
	Citigroup, Inc.	114,587		8,526,419
	JPMorgan Chase & Co.	240,350		25,703,029
	PNC Financial Services Group,        Inc. (The)	29,778		4,296,667
	Wells Fargo & Co.	338,421		20,532,002
	Other Securities^	527,495		15,803,776
				87,123,940
Commercial Services & Supplies — 0.5%
	Other Securities^	45,869		3,102,691
Communications Equipment — 2.9%
	Cisco Systems, Inc.	407,323		15,600,471
	Other Securities^	76,164		2,240,928
				17,841,399
Computers & Peripherals — 1.8%
	HP, Inc.	196,800		4,134,768
	Other Securities^	283,489		6,841,412
				10,976,180
Construction & Engineering — 0.4%
	Other Securities^	51,149		2,423,883
Construction Materials — 0.1%
	Other Securities^	6,066		778,692
Consumer Finance — 1.1%
	Capital One Financial Corp.	47,279		4,708,043
	Other Securities^	80,647		2,205,171
				6,913,214
Containers & Packaging — 0.3%
	Other Securities^	30,622		1,873,495
Distributors — 0.3%
	Other Securities^	47,648		1,937,844
Diversified Financial Services — 0.1%
	Other Securities^	14,013		532,524
Diversified Telecommunication Services — 4.1%
	AT&T, Inc.	606,209		23,569,406
	Other Securities^	112,692		1,879,702
				25,449,108
Electrical Equipment — 0.5%
	Eaton Corp. PLC	40,532		3,202,433
Electronic Equipment, Instruments & Components — 1.2%
	Other Securities^	176,004		7,515,522
Energy Equipment & Services — 0.9%
	Other Securities^	131,514		5,945,473
Food & Staples Retailing — 3.6%
	CVS Health Corp.	104,823		7,599,668
	Wal-Mart Stores, Inc.	104,402		10,309,697
	Walgreens Boots Alliance, Inc.	58,673		4,260,833
	Other Securities^	17,077		545,269
				22,715,467
Food Products — 2.5%
	Tyson Foods, Inc., Class A	41,844		3,392,293
	Other Securities^	194,427		12,065,548
				15,457,841
Health Care Equipment & Supplies — 2.9%
	Abbott Laboratories	92,763		5,293,985
	Danaher Corp.	44,310		4,112,854
	Medtronic PLC	94,115		7,599,786
	Other Securities^	11,601		1,110,934
				18,117,559

The accompanying notes are an integral part of these financial statements.
13

SA U.S. Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Health Care Providers & Services — 5.9%
	Aetna, Inc.	36,478	$	6,580,266
	Anthem, Inc.	30,249		6,806,327
	Express Scripts Holding Co.*	63,449		4,735,833
	Humana, Inc.	14,315		3,551,122
	Other Securities^	135,986		14,770,545
				36,444,093
Hotels, Restaurants & Leisure — 1.5%
	Royal Caribbean Cruises Ltd.	26,539		3,165,572
	Other Securities^	133,913		6,225,612
				9,391,184
Household Durables — 2.2%
	DR Horton, Inc.	65,701		3,355,350
	Mohawk Industries, Inc.*	12,063		3,328,182
	Other Securities^	123,091		7,078,091
				13,761,623
Independent Power Producers & Energy Traders — 0.2%
	Other Securities^	56,123		1,279,505
Industrial Conglomerates — 0.2%
	Other Securities^	26,705		1,131,225
Insurance — 5.6%
	Travelers Companies, Inc. (The)	27,179		3,686,559
	Other Securities^	443,336		31,390,029
				35,076,588
Internet & Catalog Retail — 0.3%
	Other Securities^	71,603		1,748,545
IT Services — 1.0%
	Other Securities^	78,742		6,535,832
Life Sciences Tools & Services — 0.5%
	Other Securities^	18,622		3,251,841
Machinery — 2.0%
	Stanley Black & Decker, Inc.	21,808		3,700,600
	Other Securities^@	102,378		8,696,268
				12,396,868
Media — 5.0%
	Charter Communications, Inc., Class A*	20,763		6,975,538
	Comcast Corp., Class A	324,389		12,991,779
	Time Warner, Inc.	94,794		8,670,807
	Other Securities^	82,349		2,256,826
				30,894,950
Metals & Mining — 1.8%
	Nucor Corp.	56,664		3,602,697
	Other Securities^	211,693		7,408,079
				11,010,776
Multiline Retail — 0.8%
	Other Securities^	101,232		5,183,181
Oil, Gas & Consumable Fuels — 12.4%
	Andeavor	26,742		3,057,680
	Chevron Corp.	118,481		14,832,636
	ConocoPhillips	71,234		3,910,034
	Exxon Mobil Corp.	292,675		24,479,337
	Kinder Morgan, Inc.	174,875		3,159,991
	Marathon Petroleum Corp.	58,629		3,868,342
	Occidental Petroleum Corp.	47,333		3,486,549
	Valero Energy Corp.	64,869		5,962,110
	Other Securities^	314,628		14,640,230
				77,396,909
Personal Products — 0.0%
	Other Securities^@	8,741		173,859
Pharmaceuticals — 2.6%
	Pfizer, Inc.	314,927		11,406,656
	Other Securities^	58,280		4,522,407
				15,929,063
Professional Services — 0.2%
	Other Securities^	14,711		1,315,329
Real Estate Management & Development — 0.1%
	Other Securities^	4,318		643,080
Road & Rail — 1.0%
	Norfolk Southern Corp.	30,847		4,469,730
	Other Securities^	16,015		1,812,024
				6,281,754
Semiconductors & Semiconductor Equipment — 6.5%
	Intel Corp.	522,093		24,099,813
	Lam Research Corp.	18,802		3,460,884
	Micron Technology, Inc.*	96,568		3,970,876
	QUALCOMM, Inc.	99,529		6,371,847
	Other Securities^	49,051		2,587,067
				40,490,487
Software — 0.6%
	Other Securities^	98,067		4,045,330
Specialty Retail — 0.2%
	Other Securities^	19,374		1,206,129
Textiles, Apparel & Luxury Goods — 0.3%
	Other Securities^	14,167		1,752,525
Thrifts & Mortgage Finance — 0.1%
	Other Securities^	37,947		519,412
Transportation Infrastructure — 0.1%
	Other Securities^	9,053		581,203

The accompanying notes are an integral part of these financial statements.
14

SA U.S. Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Wireless Telecommunication Services — 0.3%
	Other Securities^	54,373	$	1,725,955
	TOTAL COMMON STOCKS
	(Identified Cost $405,419,780)			621,083,492
SHORT-TERM INVESTMENTS — 0.4%
Investment Company — 0.1%
	State Street Institutional U.S. Government
	Money Market Fund, 1.210%	439,954		439,954
Collateral For Securities On Loan — 0.3%
	State Street Navigator Securities Lending
	Government Money Market
	Portfolio, 1.300%	1,771,656		1,771,656
	TOTAL SHORT-TERM INVESTMENTS
	(Identified Cost $2,211,610)			2,211,610
Total Investments — 100.1%
	(Identified Cost $407,631,390)#			623,295,102
	Liabilities, Less Cash and
	Other Assets — (0.1%)			(883,247	)
Net Assets — 100.0%			$	622,411,855

†	See Note 1
^	The Summary Portfolio of Investments does not reflect the Fund’s complete portfolio holdings. “Other Securities” are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1% of the net assets of the Fund. Certain individual securities within this category may include non-income producing securities, bankrupt/delisted, and/or fair valued securities.
*	Non-income producing security
@	A portion or all of the security/securities were held on loan. As of December 31, 2017, the market value of the securities on loan was $8,789,264.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $407,631,390. Net unrealized appreciation aggregated $215,663,712 of which $226,187,300 related to appreciated investment securities and $10,523,588 related to depreciated investment securities.

Portfolio Sectors
(As a percentage of long-term investments)

The accompanying notes are an integral part of these financial statements.
15

SA U.S. Small Company Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 99.6%
Aerospace & Defense — 1.9%
	Aerojet Rocketdyne Holdings, Inc.*	44,002	$	1,372,862
	Aerovironment, Inc.*	17,026		956,180
	Other Securities^@	173,216		5,988,780
				8,317,822
Air Freight & Logistics — 0.6%
	Air Transport Services Group, Inc.*	40,870		945,732
	Other Securities^	41,944		1,588,986
				2,534,718
Airlines — 0.7%
	Allegiant Travel Co.@	10,848		1,678,728
	Other Securities^	29,109		1,363,763
				3,042,491
Auto Components — 1.8%
	Dana, Inc.	32,214		1,031,170
	Visteon Corp.*	7,099		888,369
	Other Securities^@	181,337		5,946,480
				7,866,019
Automobiles — 0.1%
	Other Securities^	10,123		562,839
Beverages — 0.4%
	Other Securities^@	27,073		1,746,000
Biotechnology — 1.1%
	Other Securities^@	425,954		4,742,105
Building Products — 2.3%
	American Woodmark Corp.*	9,748		1,269,677
	Armstrong World Industries, Inc.*	33,680		2,039,324
	Other Securities^	213,572		6,812,885
				10,121,886
Capital Markets — 2.3%
	Artisan Partners Asset Management,
	Inc., Class A	29,908		1,181,366
	BGC Partners, Inc., Class A	58,742		887,592
	Interactive Brokers Group,
	Inc., Class A	16,151		956,301
	Other Securities^@	246,472		6,821,677
				9,846,936
Chemicals — 2.8%
	Balchem Corp.	11,654		939,312
	PolyOne Corp.	24,872		1,081,932
	Other Securities^@	318,040		9,904,710
				11,925,954
Commercial Banks — 10.3%
	Associated Banc-Corp.	35,548		902,919
	BancorpSouth Bank	31,791		999,827
	Bank of Hawaii Corp.	11,233		962,668
	Cathay General Bancorp	21,914		924,113
	Sterling Bancorp	62,083		1,527,242
	TCF Financial Corp.	43,473		891,196
	Other Securities^@	1,262,190		38,263,340
				44,471,305
Commercial Services & Supplies — 2.9%
	Other Securities^@	452,157		12,649,192
Communications Equipment — 1.4%
	Other Securities^@	328,565		6,136,896
Computers & Peripherals — 0.3%
	Other Securities^@	87,433		1,184,428
Construction & Engineering — 1.6%
	Dycom Industries, Inc.*@	9,800		1,092,014
	Other Securities^@	193,297		5,978,934
				7,070,948
Construction Materials — 0.1%
	Other Securities^@	10,034		551,634
Consumer Finance — 1.1%
	FirstCash, Inc.	13,459		907,810
	Other Securities^@	173,518		3,644,439
				4,552,249
Containers & Packaging — 0.3%
	Other Securities^	34,781		1,115,760
Distributors — 0.1%
	Other Securities^	12,188		383,614
Diversified Consumer Services — 1.1%
	Other Securities^@	161,017		4,571,752
Diversified Financial Services — 0.1%
	Other Securities^	24,963		284,041
Diversified Telecommunication Services — 0.6%
	Other Securities^@	172,328		2,726,623
Electric Utilities — 0.9%
	Other Securities^@	82,609		3,966,419
Electrical Equipment — 0.9%
	Other Securities^@	116,700		4,016,872

The accompanying notes are an integral part of these financial statements.
16

SA U.S. Small Company Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Electronic Equipment, Instruments & Components — 3.4%
	Anixter International, Inc.*	18,453	$	1,402,428
	Other Securities^@	381,522		13,070,743
				14,473,171
Energy Equipment & Services — 1.9%
	Other Securities^@	773,646		7,990,154
Food & Staples Retailing — 0.6%
	Other Securities^@	79,944		2,636,759
Food Products — 1.9%
	B&G Foods, Inc. @	25,570		898,786
	Snyders-Lance, Inc.	21,037		1,053,533
	Other Securities^@	153,974		6,439,534
				8,391,853
Gas Utilities — 1.1%
	WGL Holdings, Inc.	12,415		1,065,704
	Other Securities^	72,246		3,876,624
				4,942,328
Health Care Equipment & Supplies — 3.1%
	Cantel Medical Corp.	10,310		1,060,590
	Other Securities^@	315,790		12,214,191
				13,274,781
Health Care Providers & Services — 2.5%
	Chemed Corp.	5,293		1,286,305
	Other Securities^@	379,040		9,504,893
				10,791,198
Health Care Technology — 0.7%
	Allscripts Healthcare Solutions, Inc.*	105,209		1,530,791
	Other Securities^@	59,944		1,325,814
				2,856,605
Hotels, Restaurants & Leisure — 3.7%
	Marriott Vacations Worldwide Corp.	8,070		1,091,145
	Texas Roadhouse, Inc.	19,524		1,028,524
	Other Securities^@	493,458		13,703,442
				15,823,111
Household Durables — 2.0%
	Other Securities^@	267,058		8,568,410
Household Products — 0.5%
	Other Securities^@	53,414		1,962,097
Independent Power Producers & Energy Traders — 0.3%
	Other Securities^@	64,172		1,505,581
Industrial Conglomerates — 0.1%
	Other Securities^	9,755		335,084
Insurance — 3.7%
	CNO Financial Group, Inc.	45,733		1,129,148
	Kemper Corp.	15,116		1,041,492
	Primerica, Inc.	10,078		1,023,421
	Other Securities^@	417,598		12,764,554
				15,958,615
Internet & Catalog Retail — 0.6%
	Other Securities^@	96,734		2,536,226
Internet Software & Services — 1.1%
	Other Securities^@	262,282		4,660,366
IT Services — 1.8%
	Other Securities^	255,223		7,768,994
Leisure Equipment & Products — 0.3%
	Other Securities^@	82,272		1,398,008
Life Sciences Tools & Services — 0.2%
	Other Securities^@	51,279		836,142
Machinery — 5.5%
	Albany International Corp., Class A	20,398		1,253,457
	John Bean Technologies Corp.	8,769		971,605
	Other Securities^@	574,378		21,417,238
				23,642,300
Marine — 0.2%
	Other Securities^	19,167		670,926
Media — 1.6%
	Nexstar Media Group, Inc. @	11,553		903,445
	Other Securities^@	314,286		6,201,986
				7,105,431
Metals & Mining — 1.5%
	Other Securities^@	447,745		6,558,058
Multi-Utilities — 0.7%
	Avista Corp.	25,390		1,307,331
	Other Securities^@	27,280		1,568,501
				2,875,832
Multiline Retail — 0.3%
	Other Securities^@	76,822		1,314,031
Oil, Gas & Consumable Fuels — 2.7%
	Other Securities^@	906,312		11,765,182
Paper & Forest Products — 1.0%
	Other Securities^	139,221		4,298,167
Personal Products — 0.7%
	Other Securities^@	216,192		2,878,534
Pharmaceuticals — 1.0%
	Other Securities^@	226,433		4,226,293
Professional Services — 1.6%
	On Assignment, Inc.*	15,403		989,951
	Other Securities^	216,976		6,095,271
				7,085,222
Real Estate Management & Development — 0.6%
	Other Securities^@	86,284		2,464,276

The accompanying notes are an integral part of these financial statements.
17

SA U.S. Small Company Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Road & Rail — 1.4%
	Avis Budget Group, Inc.*@	25,970	$	1,139,564
	Knight-Swift Transportation
	Holdings, Inc.@	34,358		1,502,132
	Other Securities^@	115,310		3,345,872
				5,987,568
Semiconductors & Semiconductor Equipment — 3.6%
	Advanced Energy Industries, Inc.*	19,544		1,318,829
	Amkor Technology, Inc.*	98,755		992,488
	Entegris, Inc.	31,223		950,740
	MKS Instruments, Inc.	12,903		1,219,333
	Silicon Laboratories, Inc.*	10,644		939,865
	Other Securities^	492,504		10,027,871
				15,449,126
Software — 1.8%
	Other Securities^@	471,061		7,923,907
Specialty Retail — 3.7%
	American Eagle Outfitters, Inc.	121,677		2,287,528
	Murphy USA, Inc.*	11,169		897,541
	Other Securities^@	734,085		12,870,406
				16,055,475
Textiles, Apparel & Luxury Goods — 1.0%
	Other Securities^@	159,142		4,394,909
Thrifts & Mortgage Finance — 2.3%
	Other Securities^@	459,346		9,726,803
Tobacco — 0.3%
	Other Securities^@	47,913		1,187,719
Trading Companies & Distributors — 1.9%
	Applied Industrial Technologies, Inc.	17,141		1,167,302
	Beacon Roofing Supply, Inc.*	16,149		1,029,660
	Other Securities^@	186,072		5,859,525
				8,056,487
Transportation Infrastructure — 0.0%
	Other Securities^@	3,964		10,148
Water Utilities — 0.6%
	American States Water Co.	19,710		1,141,406
	Other Securities^	36,763		1,565,942
				2,707,348
Wireless Telecommunication Services — 0.4%
	Other Securities^	58,809		1,594,952
	TOTAL COMMON STOCKS
	(Identified Cost $279,598,432)			429,076,680
RIGHTS AND WARRANTS — 0.0%
Media — 0.0%
	Other Securities^¶	3,965		414
Pharmaceuticals — 0.0%
	Other Securities^¶	656		—
Software — 0.0%
	Other Securities^@¶	5,000		—
	TOTAL RIGHTS AND WARRANTS
	(Identified Cost $0)			414
SHORT-TERM INVESTMENTS — 5.0%
Investment Company — 0.1%
	State Street Institutional U.S.
	Government Money Market Fund,
	1.210%	460,933		460,933
Collateral For Securities On Loan — 4.9%
	State Street Navigator Securities
	Lending Government Money Market
	Portfolio, 1.300%	21,246,569		21,246,569
	TOTAL SHORT-TERM INVESTMENTS
	(Identified Cost $21,707,502)			21,707,502
	Total Investments — 104.6%
	(Identified Cost $301,305,934)#			450,784,596
	Liabilities, Less Cash and
	Other Assets — (4.6%)			(19,740,403	)
Net Assets — 100.0%			$	431,044,193

The accompanying notes are an integral part of these financial statements.
18

SA U.S. Small Company Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

†	See Note 1
*	Non-income producing security
^	The Summary Portfolio of Investments does not reflect the Fund’s complete portfolio holdings. “Other Securities” are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1% of the net asset of the Fund. Certain individual securities within this category may include non-income producing securities, bankrupt/delisted, and/or fair value securities.
@	A portion or all of the security/securities were held on loan. As of December 31, 2017, the market value of the securities on loan was $49,467,273.
¶	Contingent value rights based on future performance.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $301,305,934. Net unrealized appreciation aggregated $149,478,662 of which $173,979,071 related to appreciated investment securities and $24,500,409 related to depreciated investment securities.

Portfolio Sectors
(As a percentage of long-term investments)

The accompanying notes are an integral part of these financial statements.
19

SA International Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

	SHARES	VALUE†
COMMON STOCKS — 98.1%
Australia — 5.7%
Australia & New Zealand Banking
Group Ltd.	418,228	$	9,378,509
BHP Billiton Ltd.	415,931		9,596,361
Woodside Petroleum Ltd.	211,619		5,462,030
Other Securities^	3,527,924		20,306,040
			44,742,940
Austria — 0.1%
Other Securities^	20,427		902,484
Belgium — 1.1%
Other Securities^	101,979		8,520,319
Canada — 8.1%
Bank of Montreal	107,055		8,566,541
Manulife Financial Corp.¥	55,041		1,148,111
Manulife Financial Corp.	184,732		3,853,510
Sun Life Financial, Inc.	67,385		2,780,305
Sun Life Financial, Inc.¥	30,213		1,246,977
Suncor Energy, Inc.¥	266,726		9,792,685
Suncor Energy, Inc.	65,644		2,410,448
Teck Resources Ltd., Class B¥	75,600		1,976,907
Teck Resources Ltd., Class B@	94,542		2,474,164
Other Securities^	2,208,081		29,089,418
			63,339,066
Denmark — 1.6%
Other Securities^	156,507		12,108,083
Finland — 0.7%
Other Securities^	308,767		5,726,385
France — 9.1%
AXA SA	161,385		4,789,628
BNP Paribas SA	147,260		10,998,941
Engie SA	296,273		5,095,848
Orange SA	358,763		6,230,931
Renault SA	51,848		5,220,023
Societe Generale SA	81,356		4,202,323
Total SA	360,608		19,922,532
Other Securities^	707,021		15,184,773
			71,644,999
Germany — 7.2%
Allianz SE	21,152		4,860,119
Bayerische Motoren Werke AG	64,181		6,686,564
Daimler AG	184,001		15,630,762
Other Securities^	887,521		29,440,817
			56,618,262
Hong Kong — 2.6%
CK Hutchison Holdings Ltd.	402,624		5,055,443
Other Securities^	4,814,875		15,490,426
			20,545,869
Ireland — 0.3%
Other Securities^	147,132		2,496,171
Israel — 0.4%
Other Securities^@	408,839		2,885,210
Italy — 1.4%
UniCredit SpA *	290,956		5,439,030
Other Securities^	2,835,868		5,384,650
			10,823,680
Japan — 22.9%
Hitachi Ltd.	660,000		5,142,347
Honda Motor Co., Ltd.	271,700		9,312,673
Mitsubishi UFJ Financial
Group, Inc., ADR	1,031,340		7,497,842
Nissan Motor Co., Ltd.	426,800		4,255,689
Sumitomo Mitsui Financial Group, Inc.	217,400		9,392,529
Toyota Motor Corp.	234,990		15,043,114
Other Securities^	10,278,895		129,051,544
			179,695,738
Netherlands — 4.2%
Fiat Chrysler Automobiles NV *	338,462		6,055,002
ING Groep NV	438,143		8,056,438
Koninklijke Ahold Delhaize NV	206,865		4,550,872
Other Securities^	517,235		14,593,148
			33,255,460
New Zealand — 0.1%
Other Securities^	217,808		882,290
Norway — 0.8%
Other Securities^	390,146		5,826,550
Portugal — 0.0%
Other Securities^	446,935		270,601
Singapore — 0.7%
Other Securities^	3,192,201		5,795,208
Spain — 2.7%
Banco Santander SA	1,880,534		12,362,582
Repsol SA	316,892		5,606,383
Other Securities^	1,332,655		3,018,156
			20,987,121
Sweden — 2.7%
Nordea Bank AB	493,196		5,970,226
Other Securities^	1,440,655		15,442,103
			21,412,329
Switzerland — 7.9%
Adecco Group SA	49,724		3,804,120
Cie Financiere Richemont SA	69,300		6,279,635
LafargeHolcim Ltd.*µ	79,934		4,507,541
Novartis AG	116,713		9,869,312
Swatch Group AG (The)µ	12,412		948,939
Swatch Group AG (The)µ	8,156		3,326,178

The accompanying notes are an integral part of these financial statements.
20

SA International Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

	SHARES	VALUE†
COMMON STOCKS (Continued)
Switzerland (Continued)
Swiss Re AG	47,318	$	4,430,979
UBS Group AG*	263,220		4,845,982
Zurich Insurance Group AG	26,257		7,992,022
Other Securities^@	346,845		16,378,011
			62,382,719
United Kingdom — 17.8%
Anglo American PLC@	308,715		6,458,499
Barclays PLC, ADR	410,687		4,476,488
BP PLC, ADR@	445,354		18,718,229
Glencore PLC*	1,277,911		6,728,953
HSBC Holdings PLC, ADR@	355,216		18,343,354
Lloyds Banking Group PLC	8,529,886		7,838,220
Royal Dutch Shell PLC, ADR,
Class A@	289,519		19,313,813
Royal Dutch Shell PLC, ADR,
Class B@	246,393		16,826,178
Vodafone Group PLC	6,493,805		20,603,898
Other Securities^	3,324,779		20,202,708
			139,510,340
TOTAL COMMON STOCKS
(Identified Cost $641,815,975)			770,371,824
PREFERRED STOCKS — 1.2%
Germany — 1.2%
Volkswagen AG, 4.550%	36,209		7,231,478
Other Securities^	26,972		2,317,967
			9,549,445
TOTAL PREFERRED STOCKS
(Identified Cost $10,485,381)			9,549,445
RIGHTS AND WARRANTS — 0.0%
Spain — 0.0%
Other Securities^	316,892		144,104
TOTAL RIGHTS AND WARRANTS
(Identified Cost $144,527)			144,104
SHORT-TERM INVESTMENTS — 5.7%
Investment Company — 0.4%
State Street Institutional U.S.
Government Money Market
Fund, 1.210%	3,014,148		3,014,148
Collateral For Securities On Loan — 5.3%
State Street Navigator Securities
Lending Government Money
Market Portfolio, 1.300%	41,992,954		41,992,954
TOTAL SHORT-TERM INVESTMENTS
(Identified Cost $45,007,102)			45,007,102
Total Investments — 105.0%
(Identified Cost $697,452,985)#			825,072,475
Liabilities, Less Cash and Other
Assets — (5.0%)			(39,345,895	)
Net Assets — 100.0%		$	785,726,580

†	See Note 1
^	The Summary Portfolio of Investments does not reflect the Fund’s complete portfolio holdings. “Other Securities” are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1% of the net assets of the Fund. Certain individual securities within this category may include non-income producing securities, bankrupt/delisted, and/or fair valued securities.
*	Non-income producing security
¥	Traded on the Canada, Toronto Stock Exchange.
@	A portion or all of the security/securities were held on loan. As of December 31, 2017, the market value of the securities on loan was $67,974,325.
µ	Traded on the Switzerland, SIX Swiss Exchange.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $697,452,985. Net unrealized appreciation aggregated $127,619,490 of which $167,038,977 related to appreciated investment securities and $39,419,487 related to depreciated investment securities.

Key to abbreviations:
ADR — American Depository Receipt

The accompanying notes are an integral part of these financial statements.
21

SA International Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

Ten largest industry holdings as of December 31, 2017
(As a percentage of net assets):

Industry	Percentage
Commercial Banks		20.7	%
Oil, Gas & Consumable Fuels		14.9	%
Automobiles		10.4	%
Insurance		8.2	%
Metals & Mining		8.0	%
Chemicals		4.1	%
Wireless Telecommunication Services		2.8	%
Capital Markets		2.4	%
Real Estate Management & Development		2.2	%
Pharmaceuticals		2.0	%

Country Weightings
(As a percentage of long-term investments)

The accompanying notes are an integral part of these financial statements.
22

SA International Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

	SHARES	VALUE†
MUTUAL FUNDS — 100.0%
Other — 100.0%
DFA International Small
Company Portfolio£	17,679,565	$	376,044,352
TOTAL MUTUAL FUNDS
(Identified Cost $214,568,698)			376,044,352
Total Investments — 100.0%
(Identified Cost $214,568,698)#			376,044,352
Cash and Other Assets,
Less Liabilities — 0.0%			116,852
Net Assets — 100.0%		$	376,161,204

†	See Note 1
£	Please refer to the Portfolio of Investments of the DFA International Small Company Portfolio included elsewhere in this report.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $214,568,698. Net unrealized appreciation aggregated $161,475,654, which related solely to appreciated investment securities.

The accompanying notes are an integral part of these financial statements.
23

SA Emerging Markets Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 98.2%
Brazil — 6.5%
	Banco do Brasil SA	90,948	$	872,438
	Petroleo Brasileiro SA*	386,643		1,971,039
	Vale SA	572,937		6,953,798
	Other Securities^@	961,848		5,107,265
				14,904,540
Chile — 1.5%
	Other Securities^@	14,078,998		3,485,498
China — 17.2%
	Bank of China Ltd., H Shares	5,005,902		2,460,391
	China Construction Bank Corp.,        H Shares	6,184,810		5,699,666
	China Mobile Ltd.	125,500		1,273,015
	China Overseas Land & Investment Ltd.	338,000		1,088,041
	China Petroleum & Chemical Corp.,        H Shares	2,062,400		1,512,579
	CNOOC Ltd.	1,367,000		1,963,143
	Industrial & Commercial
	Bank of China Ltd., H Shares	6,073,000		4,889,275
	PetroChina Co., Ltd., H Shares	1,874,000		1,307,244
	Other Securities^@±	31,207,981		19,391,837
				39,585,191
Colombia — 0.4%
	Other Securities^	110,844		897,421
Czech Republic — 0.3%
	Other Securities^	28,833		613,301
Greece — 0.1%
	Other Securities^	82,900		247,395
Hungary — 0.3%
	Other Securities^	45,927		772,867
India — 13.3%
	Axis Bank Ltd.	134,335		1,184,291
	Bharti Airtel Ltd.	193,898		1,612,184
	Reliance Industries Ltd.	354,872		5,115,628
	Tata Motors Ltd.*	174,932		1,181,790
	Vedanta Ltd.	226,544		1,173,227
	Other Securities^±	5,096,462		20,305,330
				30,572,450
Indonesia — 2.5%
	Bank Mandiri Tbk PT	1,653,000		974,682
	Other Securities^	54,068,859		4,843,065
				5,817,747
Korea — 17.6%
	Hana Financial Group, Inc.	32,935		1,532,075
	Hyundai Motor Co.	23,617		3,441,457
	Hyundai Steel Co.	17,004		930,769
	KB Financial Group, Inc., ADR*	30,036		1,757,406
	Kia Motors Corp.	50,352		1,575,631
	LG Display Co., Ltd., ADR*	62,695		862,683
	LG Electronics, Inc.*	11,707		1,159,163
	POSCO, ADR*	51,360		4,012,757
	Samsung Life Insurance Co., Ltd.	7,871		915,361
	Shinhan Financial Group Co., Ltd.*	26,743		1,234,042
	Shinhan Financial Group Co.,        Ltd., ADR*	29,439		1,365,970
	SK Innovation Co., Ltd.	11,354		2,168,879
	Other Securities^	929,533		19,590,074
				40,546,267
Malaysia — 2.6%
	Other Securities^	10,457,846		6,076,807
Mexico — 3.4%
	Cemex SAB de CV*	1,439,154		1,076,667
	Grupo Financiero Banorte SAB de CV	218,259		1,198,052
	Grupo Mexico SAB de CV, Series B	492,938		1,627,792
	Other Securities^±	2,041,743		3,870,600
				7,773,111
Philippines — 1.1%
	Other Securities^±	8,464,920		2,624,205
Poland — 1.5%
	Other Securities^	586,370		3,531,062
Russia — 1.8%
	Gazprom PAO, ADR	346,393		1,527,593
	Lukoil PJSC, ADR	38,049		2,177,164
	Other Securities^	118,266		454,663
				4,159,420
South Africa — 7.9%
	Barclays Africa Group Ltd.	80,281		1,180,872
	MTN Group Ltd.	245,879		2,714,655
	Sasol Ltd.	25,120		869,338
	Sasol Ltd., ADR@	44,369		1,517,864
	Standard Bank Group Ltd.	207,913		3,287,958
	Other Securities^@	2,924,058		8,511,617
				18,082,304

The accompanying notes are an integral part of these financial statements.
24

SA Emerging Markets Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Taiwan — 16.1%
	Cathay Financial Holding Co., Ltd.	937,000	$	1,684,544
	China Steel Corp.	2,044,800		1,700,650
	CTBC Financial Holding Co., Ltd.	2,578,280		1,776,122
	Fubon Financial Holding Co., Ltd.	1,119,211		1,906,816
	Hon Hai Precision Industry Co., Ltd.	419,335		1,341,489
	Mega Financial Holding Co., Ltd.	1,210,850		978,576
	United Microelectronics Corp.	2,099,513		1,001,834
	Other Securities^@	35,131,642		26,611,799
				37,001,830
Thailand — 2.8%
	PTT Exploration & Production PCL	263,600		808,837
	PTT PCL	167,700		2,253,839
	Other Securities^	8,345,701		3,307,323
				6,369,999
Turkey — 1.3%
	Other Securities^	1,784,508		2,860,632
	TOTAL COMMON STOCKS        (Identified Cost $194,796,051)			225,922,047
PREFERRED STOCKS — 1.8%
Brazil — 1.7%
	Petroleo Brasileiro SA, 0.998%*	377,007		1,829,855
	Petroleo Brasileiro SA, ADR, 0.900%*	142,818		1,403,901
	Other Securities^	222,843		593,489
				3,827,245
Colombia — 0.1%
	Other Securities^	64,889		266,412
	TOTAL PREFERRED STOCKS
	(Identified Cost $4,706,064)			4,093,657
RIGHTS AND WARRANTS — 0.0%
Hong Kong — 0.0%
	Other Securities^	9,667		544
Indonesia — 0.0%
	Other Securities^	393,066		7,938
Malaysia — 0.0%
	Other Securities^	64,821		11,528
	TOTAL RIGHTS AND WARRANTS
	(Identified Cost $0)			20,010
SHORT-TERM INVESTMENTS — 2.1%
Investment Company — 0.3%
	State Street Institutional U.S.        Government Money Market         Fund, 1.210%	559,050		559,050
Collateral For Securities On Loan — 1.8%
	State Street Navigator Securities        Lending Government Money        Market Portfolio, 1.300%	4,223,683		4,223,683
TOTAL SHORT-TERM INVESTMENTS
	(Identified Cost $4,782,733)			4,782,733
Total Investments — 102.1%         (Identified Cost $204,284,848)#				234,818,447
	Liabilities, Less Cash and        Other Assets — (2.1%)			(4,791,308	)
Net Assets — 100.0%			$	230,027,139

†	See Note 1
^	The Summary Portfolio of Investments does not reflect the Fund’s complete portfolio holdings. “Other Securities” are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1% of the net assets of the Fund. Certain individual securities within this category may include non-income producing securities, bankrupt/delisted, and/or fair valued securities.
@	A portion or all of the security/securities were held on loan. As of December 31, 2017, the market value of the securities on loan was $5,096,764.
*	Non-income producing security
±	144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at December 31, 2017 amounted to $1,202,965 or 0.52% of the net assets of the Fund.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $204,284,848. Net unrealized appreciation aggregated $30,533,599 of which $47,166,400 related to appreciated investment securities and $16,632,801 related to depreciated investment securities.

Key to abbreviations:
ADR — American Depository Receipt

The accompanying notes are an integral part of these financial statements.
25

SA Emerging Markets Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

Ten largest industry holdings as of December 31, 2017
(As a percentage of net assets):

Industry	Percentage
Commercial Banks		23.2	%
Oil, Gas & Consumable Fuels		14.0	%
Metals & Mining		11.1	%
Real Estate Management & Development		4.0	%
Chemicals		3.9	%
Electronic Equipment, Instruments
& Components		3.6	%
Automobiles		3.4	%
Wireless Telecommunication Services		2.7	%
Insurance		2.6	%
Industrial Conglomerates		2.6	%

Country Weightings
(As a percentage of long-term investments)

The accompanying notes are an integral part of these financial statements.
26

SA Real Estate Securities Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 99.2%
Real Estate Investment Trusts (REITs) — 99.2%
	Acadia Realty Trust	17,192	$	470,373
	Agree Realty Corp.	5,009		257,663
	Alexander’s, Inc.	518		205,050
	Alexandria Real Estate Equities, Inc.	17,452		2,279,057
	American Assets Trust, Inc.	8,315		317,966
	American Campus Communities, Inc.	27,869		1,143,465
	American Homes 4 Rent., Class A	39,177		855,626
	American Tower Corp.	48,802		6,962,581
	Apartment Investment &        Management Co., Class A	32,098		1,403,004
	Apple Hospitality REIT, Inc.	33,183		650,719
	Ashford Hospitality Prime, Inc.	7,756		75,466
	Ashford Hospitality Trust, Inc.	19,998		134,587
	AvalonBay Communities, Inc.	25,991		4,637,054
	Bluerock Residential Growth        REIT, Inc.	3,300		33,363
	Boston Properties, Inc.	29,150		3,790,374
	Brandywine Realty Trust	39,490		718,323
	Brixmor Property Group, Inc.	55,900		1,043,094
	BRT Apartments Corp.	400		4,716
	Camden Property Trust	18,428		1,696,482
	CareTrust REIT, Inc.	11,450		191,902
	CBL & Associates Properties, Inc.@	34,365		194,506
	Cedar Realty Trust, Inc.	17,672		107,446
	Chatham Lodging Trust	8,674		197,420
	Chesapeake Lodging Trust	14,236		385,653
	City Office REIT, Inc.	2,976		38,718
	Columbia Property Trust, Inc.	20,692		474,881
	Condor Hospitality Trust, Inc.	1,057		10,517
	CoreSite Realty Corp.	7,619		867,804
	Corporate Office Properties Trust	20,988		612,850
	Cousins Properties, Inc.	67,428		623,709
	Crown Castle International Corp.	38,859		4,313,738
	CubeSmart	38,171		1,103,905
	CyrusOne, Inc.	15,754		937,836
	DCT Industrial Trust, Inc.	20,528		1,206,636
	DDR Corp.	70,573		632,334
	DiamondRock Hospitality Co.	45,908		518,301
	Digital Realty Trust, Inc.	38,709		4,408,955
	Douglas Emmett, Inc.	32,605		1,338,761
	Duke Realty Corp.	72,954		1,985,078
	Easterly Government        Properties, Inc.@	1,300		27,742
	EastGroup Properties, Inc.	7,513		663,999
	Education Realty Trust, Inc.	14,022		489,648
	Empire State Realty Trust, Inc.,        Class A	25,972		533,205
	EPR Properties	14,464		946,813
	Equinix, Inc.	14,309		6,485,125
	Equity Commonwealth*	27,081		826,241
	Equity LifeStyle Properties, Inc.	17,322		1,542,004
	Equity Residential	68,923		4,395,220
	Essex Property Trust, Inc.	12,759		3,079,640
	Extra Space Storage, Inc.	24,417		2,135,267
	Federal Realty Investment Trust	14,487		1,924,018
	First Industrial Realty Trust, Inc.	26,455		832,539
	Forest City Realty Trust, Inc., Class A	43,199		1,041,096
	Four Corners Property Trust, Inc.	3,827		98,354
	Franklin Street Properties Corp.	22,915		246,107
	Gaming & Leisure Properties, Inc.	37,864		1,400,968
	Getty Realty Corp.	6,637		180,261
	GGP, Inc.	123,337		2,884,852
	Gladstone Commercial Corp.	5,964		125,602
	Global Medical REIT, Inc.	5,127		42,041
	Global Net Lease, Inc.	5,051		103,950
	Government Properties        Income Trust	17,229		319,426
	Gramercy Property Trust	23,457		625,364
	HCP, Inc.	92,668		2,416,781
	Healthcare Realty Trust, Inc.	24,902		799,852
	Healthcare Trust of America, Inc.,        Class A	31,584		948,783
	Hersha Hospitality Trust	9,632		167,597
	Highwoods Properties, Inc.	22,688		1,155,046
	Hospitality Properties Trust	36,298		1,083,495
	Host Hotels & Resorts, Inc.	144,951		2,877,277
	Hudson Pacific Properties, Inc.	26,464		906,392
	Independence Realty Trust, Inc.	6,510		65,686
	Investors Real Estate Trust	26,116		148,339
	Invitation Homes, Inc.	7,584		178,755
	Iron Mountain, Inc.	49,787		1,878,464
	JBG SMITH Properties	18,267		634,413
	Kilroy Realty Corp.	20,805		1,553,093
	Kimco Realty Corp.	87,047		1,579,903
	Kite Realty Group Trust	19,357		379,397
	Lamar Advertising Co., Class A	9,637		715,451
	LaSalle Hotel Properties	25,244		708,599
	Lexington Realty Trust	48,883		471,721
	Liberty Property Trust	30,565		1,314,601
	Life Storage, Inc.	8,992		800,917
	LTC Properties, Inc.	8,869		386,245
	Macerich Co. (The)	24,162		1,586,960
	Mack-Cali Realty Corp.	19,584		422,231
	MedEquities Realty Trust, Inc.	3,453		38,743
	Medical Properties Trust, Inc.	58,588		807,343
	MGM Growth Properties LLC,        Class A@	2,799		81,591
	Mid-America Apartment        Communities, Inc.	22,000		2,212,320
	Monmouth Real Estate Investment        Corp., Class A	14,037		249,859
	National Health Investors, Inc.	8,820		664,852
	National Retail Properties, Inc.	31,834		1,373,000
	National Storage Affiliates Trust	1,654		45,088
	New Senior Investment Group, Inc.	17,592		132,996
	NexPoint Residential Trust, Inc.	2,800		78,232
	NorthStar Realty Europe Corp.	7,232		97,126
	Omega Healthcare Investors, Inc.@	43,595		1,200,606
	One Liberty Properties, Inc.	2,871		74,416
	Outfront Media, Inc.	14,049		325,937
	Paramount Group, Inc.	26,438		419,042
	Park Hotels & Resorts, Inc.	18,120		520,950
	Pebblebrook Hotel Trust@	16,826		625,422
	Pennsylvania REIT	14,993		178,267

The accompanying notes are an integral part of these financial statements.
27

SA Real Estate Securities Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Real Estate Investment Trusts (REITs) (Continued)
	Physicians Realty Trust	20,043	$	360,574
	Piedmont Office Realty Trust, Inc.,        Class A	32,747		642,169
	Prologis, Inc.	97,711		6,303,337
	PS Business Parks, Inc.	4,655		582,294
	Public Storage	28,949		6,050,341
	QTS Realty Trust, Inc., Class A	8,920		483,107
	Quality Care Properties, Inc.*	20,620		284,762
	Ramco-Gershenson Properties Trust	18,901		278,412
	Realty Income Corp.	53,716		3,062,886
	Regency Centers Corp.	30,405		2,103,418
	Retail Opportunity Investments Corp.	24,585		490,471
	Retail Properties of America, Inc.,        Class A	53,599		720,371
	Rexford Industrial Realty, Inc.	12,916		376,631
	RLJ Lodging Trust	38,055		836,068
	Ryman Hospitality Properties	10,494		724,296
	Sabra Healthcare REIT, Inc.	37,581		705,395
	Saul Centers, Inc.	3,327		205,442
	SBA Communications Corp.*	16,397		2,678,614
	Select Income REIT	15,667		393,712
	Senior Housing Properties Trust	53,916		1,032,491
	Seritage Growth Properties,        Class A@	164		6,635
	Simon Property Group, Inc.	56,436		9,692,319
	SL Green Realty Corp.	19,178		1,935,636
	Sotherly Hotels, Inc.	3,111		20,066
	Spirit Realty Capital, Inc.	104,573		897,236
	STAG Industrial, Inc.	16,666		455,482
	STORE Capital Corp.	26,841		698,940
	Summit Hotel Properties, Inc.	21,227		323,287
	Sun Communities, Inc.	13,063		1,211,985
	Sunstone Hotel Investors, Inc.	48,579		803,011
	Tanger Factory Outlet         Centers, Inc.@	21,805		578,051
	Taubman Centers, Inc.@	13,717		897,503
	Terreno Realty Corp.	10,190		357,261
	Tier REIT, Inc.	2,000		40,780
	UDR, Inc.	52,968		2,040,327
	UMH Properties, Inc.	5,369		79,998
	Uniti Group, Inc.@*	14,767		262,705
	Universal Health Realty        Income Trust	3,394		254,923
	Urban Edge Properties	22,808		581,376
	Urstadt Biddle Properties, Inc.	1,000		16,950
	Urstadt Biddle Properties, Inc.,        Class A	6,307		137,114
	Ventas, Inc.	66,204		3,972,902
	VEREIT, Inc.	197,221		1,536,352
	Vornado Realty Trust	33,691		2,633,962
	Washington Prime Group, Inc.@	43,142		307,171
	Washington REIT	16,908		526,177
	Weingarten Realty Investors	27,738		911,748
	Welltower, Inc.	69,482		4,430,867
	Wheeler Real Estate Investment        Trust, Inc.@	1,401		13,982
	Whitestone REIT@	7,118		102,570
	WP Carey, Inc.	22,588		1,556,313
	Xenia Hotels & Resorts, Inc.	10,828		233,777
				175,917,380
	TOTAL COMMON STOCKS        (Identified Cost $115,038,514)			175,917,380
SHORT-TERM INVESTMENTS — 2.1%
Investment Company — 0.6%
	State Street Institutional U.S. Government        Money Market Fund, 1.210%	1,099,554		1,099,554
Collateral For Securities On Loan — 1.5%
	State Street Navigator Securities        Lending Government Money        Market Portfolio, 1.300%	2,540,031		2,540,031
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $3,639,585)			3,639,585
Total Investments — 101.3%         (Identified Cost $118,678,099)#				179,556,965
	Liabilities, Less Cash and        Other Assets — (1.3%)			(2,228,713	)
Net Assets — 100.0%			$	177,328,252

†	See Note 1
@	Aportion or all of the security was held on loan. As of December 31, 2017, the market value of the securities on loan was $4,228,566.
*	Non-income producing security.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $118,678,099. Net unrealized appreciation aggregated $60,878,866 of which $64,688,843 related to appreciated investment securities and $3,809,977 related to depreciated investment securities.

Key to abbreviations:
REIT — Real Estate Investment Trust

The accompanying notes are an integral part of these financial statements.
28

SA Real Estate Securities Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

Portfolio Sectors
(As a percentage of long-term investments)

The accompanying notes are an integral part of these financial statements.
29

SA Worldwide Moderate Growth Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
MUTUAL FUNDS — 99.9%
Other — 99.9%
	SA Emerging Markets Value Fund€	285,657	$	3,056,533
	SA Global Fixed Income Fund€	411,336		3,948,829
	SA International Value Fund€	462,948		5,772,958
	SA Real Estate Securities Fund€	133,946		1,518,949
	SA U.S. Core Market Fund€	233,595		5,463,796
	SA U.S. Fixed Income Fund€	359,870		3,645,483
	SA U.S. Small Company Fund€	104,559		2,731,084
	SA U.S. Value Fund€	226,152		4,249,385
				30,387,017
	TOTAL MUTUAL FUNDS
	(Identified Cost $27,612,530)			30,387,017
Total Investments — 99.9%
	(Identified Cost $27,612,530)#			30,387,017
	Cash and Other Assets,
	Less Liabilities — 0.1%			22,753
Net Assets — 100.0%			$	30,409,770

†	See Note 1
€	Affiliated company
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $27,612,530. Net unrealized appreciation aggregated $2,774,487 of which $2,808,537 related to appreciated investment securities and $34,050 related to depreciated investment securities.

The accompanying notes are an integral part of these financial statements.
30

STATEMENTS OF ASSETS AND LIABILITIES — DECEMBER 31, 2017 (Unaudited)

	SA U.S. Fixed Income Fund			SA Global Fixed Income Fund			SA U.S. Core Market Fund
ASSETS
Investments in unaffiliated securities, at value	$	605,498,270		$	742,874,337		$	792,395,040
Investments in affiliated securities, at value		—			—			—
Cash		—			—			4,455
Foreign currency, at value		—			416,377			—
Receivable for investments sold		—			—			2,069,445
Dividends and interest receivable		3,015,987			4,673,008			660,294
Receivable for fund shares sold		1,260,401			1,587,303			1,252,660
Unrealized appreciation on forward foreign
currency exchange contracts (Note 1)		—			835,294			—
Receivable from the Adviser (Note 2)		—			491			—
Receivable for tax reclaims		—			—			—
Prepaid expenses		16,408			24,178			24,278
Other assets		—			—			1,284
Total Assets		609,791,066			750,410,988			796,407,456
LIABILITIES
Payable for investments purchased		—			35			360,202
Payable for fund shares redeemed		380,999			792,072			394,128
Collateral for securities on loan (Note 1)		—			23,807,013			4,802,814
Unrealized depreciation on forward foreign
currency exchange contracts (Note 1)		—			2,350,931			—
Advisory fee payable (Note 2)		85,419			153,372			297,112
Sub-Advisory fee payable (Note 2)		25,827			30,674			30,495
Administration fee payable (Note 2)		51,654			61,349			66,007
Sub-Administration fee payable (Note 2)		18,884			22,368			21,900
Custody and accounting fees payable		22,251			25,247			28,234
Trustees’ fees payable (Note 2)		115			115			115
Shareholder servicing fee payable (Note 2)		121,802			145,553			155,151
Transfer agent fee payable		14,616			17,233			20,379
Professional fees payable		5,312			4,992			5,846
Accrued expenses and other liabilities		11,062			13,450			13,717
Total Liabilities		737,941			27,424,404			6,196,100
NET ASSETS	$	609,053,125		$	722,986,584		$	790,211,356
NET ASSETS CONSIST OF:
Paid-in capital	$	612,889,732		$	725,184,460		$	351,527,093
Undistributed (overdistributed) net investment income (loss)		(27,994	)		1,681,200			(111,804	)
Accumulated net realized gain (loss)		(1,090,211	)		(643,596	)		9,711,619
Net unrealized appreciation (depreciation) on:
Investments (1)		(2,718,402	)		(1,738,696	)		429,084,448
Foreign currency and forward currency transactions		—			(1,496,784	)		—
NET ASSETS	$	609,053,125		$	722,986,584		$	790,211,356
INVESTOR CLASS SHARES
Net Assets	$	566,189,688		$	677,290,696		$	719,389,552
Shares of beneficial interest outstanding
($0.01 par value, unlimited shares authorized)		55,907,891			70,543,108			30,756,283
Net asset value per share	$	10.13		$	9.60		$	23.39
SELECT CLASS SHARES(2)
Net Assets	$	42,863,437		$	45,695,888		$	70,821,804
Shares of beneficial interest outstanding
($0.01 par value, unlimited shares authorized)		4,232,682			4,765,630			3,029,867
Net asset value per share	$	10.13		$	9.59		$	23.37
Identified cost of unaffiliated investments	$	608,216,672		$	744,613,033		$	363,310,592
Identified cost of affiliated investments	$	—		$	—		$	—
Cost of foreign currency	$	—		$	409,472		$	—
(1) Net of deferred capital gain country tax of:	$	—		$	—		$	—
(2) For the period from July 3, 2017 (commencement of class operations) to December 31, 2017

The accompanying notes are an integral part of these financial statements.
32

SA U.S. Value Fund		SA U.S. Small Company Fund			SA International Value Fund			SA International Small Company Fund			SA Emerging Markets Value Fund			SA Real Estate Securities Fund
$	623,295,102	$	450,784,596		$	825,072,475		$	376,044,352		$	234,818,447		$	179,556,965
	—		—			—			—			—			—
	7,619		3,144			52,150			45,300			—			—
	—		—			159,738			—			355,023			—
	320,400		1,058,519			—			—			—			—
	492,409		549,191			1,383,230			—			138,246			861,859
	1,048,048		801,055			1,247,932			618,137			409,245			392,906
	—		—			—			—			—			—
	16,202		23,529			—			599			46,983			6,896
	—		—			972,456			—			—			—
	22,071		20,650			22,308			20,353			13,017			13,189
	—		—			—			—			—			—
	625,201,851		453,240,684			828,910,289			376,728,741			235,780,961			180,831,815
	88,326		256,005			—			45,000			227,491			538,679
	387,508		214,208			419,021			209,498			103,086			254,925
	1,771,656		21,246,569			41,992,954			—			4,223,683			2,540,031
	—		—			—			—			—			—
	247,412		161,687			323,524			156,033			93,021			51,565
	51,424		125,756			129,257			—			93,021			22,099
	51,424		35,931			64,628			31,207			18,604			14,733
	17,107		12,041			20,913			10,288			5,998			5,293
	18,682		26,322			37,482			5,605			64,366			10,907
	115		115			115			115			115			115
	121,162		85,077			152,845			74,242			43,390			34,487
	19,959		19,648			20,554			19,584			17,735			18,211
	4,648		6,060			4,113			5,698			6,485			9,984
	10,573		7,072			18,303			10,267			856,827			2,534
	2,789,996		22,196,491			43,183,709			567,537			5,753,822			3,503,563
$	622,411,855	$	431,044,193		$	785,726,580		$	376,161,204		$	230,027,139		$	177,328,252
$	396,074,750	$	274,413,024		$	680,096,954		$	230,880,962		$	206,217,683		$	118,150,062
	80,050		(243,591	)		1,019,075			(1,307,904	)		(1,025,815	)		569,770
	10,593,343		7,396,098			(23,038,091	)		(14,887,508	)		(4,855,139	)		(2,270,446	)
	215,663,712		149,478,662			127,619,490			161,475,654			29,688,093			60,878,866
	—		—			29,152			—			2,317			—
$	622,411,855	$	431,044,193		$	785,726,580		$	376,161,204		$	230,027,139		$	177,328,252
$	568,930,118	$	396,648,155		$	721,545,421		$	353,405,324		$	207,356,068		$	160,521,348
	30,279,513		15,182,603			57,880,866			14,989,445			19,372,719			14,157,174
$	18.79	$	26.13		$	12.47		$	23.58		$	10.70		$	11.34
$	53,481,737	$	34,396,038		$	64,181,159		$	22,755,880		$	22,671,071		$	16,806,904
	2,846,848		1,316,361			5,148,439			965,398			2,117,003			1,482,693
$	18.79	$	26.13		$	12.47		$	23.57		$	10.71		$	11.34
$	407,631,390	$	301,305,934		$	697,452,985		$	214,568,698		$	204,284,848		$	118,678,099
$	—	$	—		$	—		$	—		$	—		$	—
$	—	$	—		$	158,579		$	—		$	352,386		$	—
$	—	$	—		$	—		$	—		$	845,506		$	—

The accompanying notes are an integral part of these financial statements.
33

STATEMENTS OF ASSETS AND LIABILITIES — DECEMBER 31, 2017 (Unaudited) (Continued)

	SA Worldwide
	Moderate
	Growth Fund
ASSETS
Investments in affiliated securities, at value	$	30,387,017
Receivable for fund shares sold		126,690
Receivable from the Adviser (Note 2)		15,286
Prepaid expenses		19,155
Total Assets		30,548,148
LIABILITIES
Payable for investments purchased		114,648
Payable for fund shares redeemed		12,041
Sub-Administration fee payable (Note 2)		726
Custody and accounting fees payable		8,044
Trustees’ fees payable (Note 2)		115
Transfer agent fee payable		2,549
Accrued expenses and other liabilities		255
Total Liabilities		138,378
NET ASSETS	$	30,409,770
NET ASSETS CONSIST OF:
Paid-in capital	$	26,310,218
Overdistributed net investment loss		(26,400	)
Accumulated net realized gain (loss)		1,351,465
Net unrealized appreciation (depreciation) on:
Investments		2,774,487
NET ASSETS	$	30,409,770
Shares of beneficial interest outstanding ($0.01 par value, unlimited shares authorized)		2,676,996
Net asset value per share	$	11.36
Identified cost of affiliated investments	$	27,612,530

The accompanying notes are an integral part of these financial statements.
34

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35

STATEMENTS OF OPERATIONS — SIX MONTHS ENDED DECEMBER 31, 2017 (Unaudited)

	SA U.S.			SA Global			SA U.S.
	Fixed Income			Fixed Income			Core Market
	Fund			Fund			Fund
INVESTMENT INCOME
Income:
Unaffiliated dividends	$	—		$	—		$	6,982,030
Affiliated dividends		—			—			—
Interest (1)		4,444,235			6,476,625			46,829
Other income		—			—			15,025
Taxes withheld		—			—			(471	)
Total Income		4,444,235			6,476,625			7,043,413
Expenses:
Advisory fees (Note 2)		457,909			908,313			1,706,774
Shareholder services fees (Note 2)
Investor Class		726,721			869,339			907,594
Select Class (†)		7,292			7,795			8,117
Administration fees (Note 2)		305,273			363,325			379,272
Sub-Advisory fees (Note 2)		152,636			181,663			167,983
Expense recouped by the Adviser (Note 2)		44,132			—			—
Sub-Administration fees (Note 2)		56,061			66,681			67,782
Trustees’ fees and expenses (Note 2)		14,065			14,065			14,065
Custody and accounting fees		43,670			57,269			61,156
Transfer agent fees		62,961			65,541			75,733
Professional fees *		41,165			48,176			47,767
Registration fees		17,553			17,670			16,898
Other expenses **		25,181			28,920			28,663
Total expenses before waivers and reimbursements:		1,954,619			2,628,757			3,481,804
Less: Fee waiver by the Adviser (Note 2)		(1,722	)		(3,704	)		(2,708	)
Net expenses		1,952,897			2,625,053			3,479,096
Net investment income		2,491,338			3,851,572			3,564,317
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on:
Investments (2)		(566,703	)		267,833			16,850,165
Investments in affiliates		—			—			—
Forward currency transactions		—			(505,664	)		—
Foreign currency transactions		—			(25,964	)		47
Capital gain distributions from underlying funds		—			—			1,439,186
Increase (decrease) in unrealized appreciation (depreciation) on:
Investments (3)		(1,938,950	)		(2,144,978	)		64,375,762
Investments in affiliates		—			—			—
Forward currency transactions		—			(597,161	)		—
Foreign currency transactions		—			9,442			(14	)
Net realized and unrealized gain (loss) on investments and foreign
currency transactions		(2,505,653	)		(2,996,492	)		82,665,146
Net increase (decrease) in net assets resulting from operations	$	(14,315	)	$	855,080		$	86,229,463
(1) Interest income includes security lending income of:	$	—		$	24,374		$	40,596
(2) Net of capital gain country tax of:	$	—		$	—		$	—
(3) Net of increase of deferred capital gain country tax accrual of:	$	—		$	—		$	—
* Professional fees include, but are not limited to, fees associated with
legal, audit and tax services.
** Other expenses include, but are not limited to, fees associated with
insurance and printing services.
(†)For the period from July 3, 2017 (commencement of class
operations) to December 31, 2017.

The accompanying notes are an integral part of these financial statements.
36

SA U.S.			SA U.S.			SA International			SA International			SA			SA			SA Worldwide
Value			Small Company			Value			Small Company			Emerging Markets			Real Estate			Moderate
Fund			Fund			Fund			Fund			Value Fund			Securities Fund			Growth Fund
$	7,063,417		$	2,925,545		$	10,204,171		$	6,517,635		$	3,442,950		$	3,611,070		$	—
	—			—			—			—			—			—			328,457
	16,533			189,779			162,075			—			30,404			4,373			—
	60,397			24,218			22,041			—			—			—			—
	—			(725	)		(541,537	)		—			(468,142	)		—			—
	7,140,347			3,138,817			9,846,750			6,517,635			3,005,212			3,615,443			328,457
	1,329,950			930,260			1,884,888			923,270			543,514			305,287			—
	708,544			497,337			905,626			443,876			258,280			208,092			N/A
	6,058			3,895			7,364			3,552			2,695			1,994			N/A
	295,533			206,724			376,978			184,654			108,703			87,225			—
	295,533			723,535			753,955			—			543,514			130,837			—
	—			—			—			—			—			—			—
	52,849			37,024			66,681			32,995			19,300			16,020			2,691
	14,065			14,065			14,065			14,065			14,065			14,065			14,065
	40,527			52,736			88,106			13,946			143,222			21,635			15,817
	74,158			73,099			76,010			72,787			66,467			68,215			—
	41,715			39,616			45,721			39,022			46,989			32,734			31,257
	16,227			14,043			16,458			13,267			13,035			12,305			12,224
	23,620			18,171			32,574			21,068			16,698			11,226			5,681
	2,898,779			2,610,505			4,268,426			1,762,502			1,776,482			909,635			81,735
	(2,289	)		(145,390	)		(3,108	)		(1,867	)		(265,424	)		(45,363	)		(81,735	)
	2,896,490			2,465,115			4,265,318			1,760,635			1,511,058			864,272			—
	4,243,857			673,702			5,581,432			4,757,000			1,494,154			2,751,171			328,457
	36,337,533			15,705,499			12,623,139			4,011,013			3,493,175			1,648,955			—
	—			—			—			—			—			—			725,758
	—			—			—			—			—			—			—
	—			460			98,377			—			(9,525	)		—			—
	—			—			—			11,429,952			—			—			726,338
	26,341,249			20,992,864			80,192,191			19,267,869			22,248,907			38,394			—
	—			—			—			—			—			—			830,586
	—			—			—			—			—			—			—
	—			(136	)		(15,626	)		—			7,633			—			—
	62,678,782			36,698,687			92,898,081			34,708,834			25,740,190			1,687,349			2,282,682
$	66,922,639		$	37,372,389		$	98,479,513		$	39,465,834		$	27,234,344		$	4,438,520		$	2,611,139
$	12,266		$	185,511		$	155,207		$	—		$	29,046		$	1,971		$	—
$	—		$	—		$	—		$	—		$	35,498		$	—		$	—
$	—		$	—		$	—		$	—		$	601,569		$	—		$	—

The accompanying notes are an integral part of these financial statements.
37

STATEMENTS OF CHANGES IN NET ASSETS

	SA U.S. Fixed Income Fund
	Six Months Ended
	December 31, 2017			Year Ended
	(Unaudited)			June 30, 2017
INCREASE (DECREASE) IN NET ASSETS
Operations:
Net investment income	$	2,491,338		$	3,443,441
Net realized gain (loss) on investments and foreign currency transactions		(566,703	)		(354,642	)
Net increase (decrease) in unrealized appreciation (depreciation)		(1,938,950	)		(2,773,730	)
Net increase (decrease) in net assets from operations		(14,315	)		315,069
Distributions to shareholders from:
Net investment income
Investor Class		(2,824,032	)		(3,028,691	)
Select Class		(230,339	)(1)		N/A
Net realized gains
Investor Class		—			—
Select Class		—	(1)		N/A
Total distributions to shareholders		(3,054,371	)		(3,028,691	)
Capital share transactions
Proceeds from sale of shares
Investor Class		61,224,842			130,171,250
Select Class		49,694,895	(1)		N/A
		110,919,737			130,171,250
Value of distributions reinvested
Investor Class		2,772,646			2,961,766
Select Class		227,059	(1)		N/A
		2,999,705			2,961,766
Cost of shares redeemed
Investor Class		(101,617,246	)		(138,893,261	)
Select Class		(6,820,259	)(1)		N/A
		(108,437,505	)		(138,893,261	)
Total capital share transactions		5,481,937			(5,760,245	)
Total increase (decrease) in net assets		2,413,251			(8,473,867	)
NET ASSETS
Beginning of year		606,639,874			615,113,741
End of period	$	609,053,125		$	606,639,874
Undistributed (overdistributed) net investment income, end of period	$	(27,994	)	$	535,039
CAPITAL SHARE TRANSACTIONS
Shares sold by subscription
Investor Class		6,016,540			12,774,169
Select Class		4,880,590	(1)		N/A
Shares issued for distributions reinvested
Investor Class		273,278			291,166
Select Class		22,390	(1)		N/A
Shares redeemed
Investor Class		(9,981,552	)		(13,629,121	)
Select Class		(670,298	)(1)		N/A
Net increase (decrease) in fund shares		540,948			(563,786	)

⁽¹⁾ For the period from July 3, 2017 (commencement of class operations) to December 31, 2017

The accompanying notes are an integral part of these financial statements.
38

SA Global Fixed Income Fund						SA U.S. Core Market Fund
Six Months Ended						Six Months Ended
December 31, 2017			Year Ended			December 31, 2017			Year Ended
(Unaudited)			June 30, 2017			(Unaudited)			June 30, 2017
$	3,851,572		$	7,655,120		$	3,564,317		$	7,506,785
	(263,795	)		(334,195	)		18,289,398			30,901,617
	(2,732,697	)		(9,495,654	)		64,375,748			77,147,008
	855,080			(2,174,729	)		86,229,463			115,555,410
	(2,737,263	)		(7,763,676	)		(6,376,377	)		(8,633,633	)
	(221,325	)(1)		N/A			(727,316	)(1)		N/A
	(312,389	)		(1,734,126	)		(21,953,159	)		(32,247,166	)
	(21,363	)(1)		N/A			(2,193,389	)(1)		N/A
	(3,292,340	)		(9,497,802	)		(31,250,241	)		(40,880,799	)
	67,080,226			140,492,197			41,328,762			104,634,092
	52,962,287	(1)		N/A			74,415,367	(1)		N/A
	120,042,513			140,492,197			115,744,129			104,634,092
	3,006,938			9,316,096			27,947,398			40,306,226
	238,741	(1)		N/A			1,998,525	(1)		N/A
	3,245,679			9,316,096			29,945,923			40,306,226
	(111,768,430	)		(149,964,558	)		(135,808,220	)		(156,537,202	)
	(7,216,217	)(1)		N/A			(6,328,774	)(1)		N/A
	(118,984,647	)		(149,964,558	)		(142,136,994	)		(156,537,202	)
	4,303,545			(156,265	)		3,553,058			(11,596,884	)
	1,866,285			(11,828,796	)		58,532,280			63,077,727
	721,120,299			732,949,095			731,679,076			668,601,349
$	722,986,584		$	721,120,299		$	790,211,356		$	731,679,076
$	1,681,200		$	788,216		$	(111,804	)	$	3,427,572
	6,944,952			14,549,799			1,818,189			5,048,517
	5,488,579	(1)		N/A			3,218,404	(1)		N/A
	313,058			969,471			1,189,757			2,004,288
	24,877	(1)		N/A			85,116	(1)		N/A
	(11,570,949	)		(15,517,283	)		(5,948,628	)		(7,531,462	)
	(747,826	)(1)		N/A			(273,653	)(1)		N/A
	452,691			1,987			89,185			(478,657	)

The accompanying notes are an integral part of these financial statements.
39

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	SA U.S. Value Fund
	Six Months Ended
	December 31, 2017			Year Ended
	(Unaudited)			June 30, 2017
INCREASE (DECREASE) IN NET ASSETS
Operations:
Net investment income	$	4,243,857		$	7,172,022
Net realized gain (loss) on investments and foreign currency transactions		36,337,533			35,469,478
Net increase (decrease) in unrealized appreciation (depreciation)		26,341,249			61,430,872
Net increase (decrease) in net assets from operations		66,922,639			104,072,372
Distributions to shareholders from:
Net Investment Income
Investor Class		(6,579,513	)		(7,687,159	)
Select Class		(706,396	)(1)		N/A
Net realized gains
Investor Class		(47,202,215	)		(19,834,192	)
Select Class		(4,569,227	)(1)		N/A
Total distributions to shareholders		(59,057,351	)		(27,521,351	)
Capital share transactions
Proceeds from sale of shares
Investor Class		34,041,090			82,768,801
Select Class		56,667,571	(1)		N/A
		90,708,661			82,768,901
Value of distributions reinvested
Investor Class		53,091,509			27,138,589
Select Class		3,567,875	(1)		N/A
		56,659,384			27,138,589
Cost of shares redeemed
Investor Class		(100,951,177	)		(132,832,978	)
Select Class		(4,711,105	)(1)		N/A
		(105,662,282	)		(132,832,978	)
Total capital share transactions		41,705,763			(22,925,588	)
Total increase (decrease) in net assets		49,571,051			53,625,433
NET ASSETS
Beginning of year		572,840,804			519,215,371
End of period	$	622,411,855		$	572,840,804
Undistributed (overdistributed) net investment income, end of period	$	80,050		$	3,122,102
CAPITAL SHARE TRANSACTIONS
Shares sold by subscription
Investor Class		1,779,323			4,700,043
Select Class		2,900,024	(1)		N/A
Shares issued for distributions reinvested
Investor Class		2,812,050			1,534,120
Select Class		188,976	(1)		N/A
Shares redeemed
Investor Class		(5,252,012	)		(7,515,721	)
Select Class		(242,152	)(1)		N/A
Net increase (decrease) in fund shares		2,186,209			(1,281,558	)

⁽¹⁾ For the period from July 3, 2017 (commencement of class operations) to December 31, 2017

The accompanying notes are an integral part of these financial statements.
40

U.S. Small Company Fund						SA International Value Fund
Six Months Ended						Six Months Ended
December 31, 2017			Year Ended			December 31, 2017			Year Ended
(Unaudited)			June 30, 2017			(Unaudited)			June 30, 2017
$	673,702		$	1,037,648		$	5,581,432		$	16,936,186
	15,705,959			31,047,112			12,721,516			5,694,691
	20,992,728			42,324,618			80,176,565			129,249,138
	37,372,389			74,409,378			98,479,513			151,880,015
	(735,460	)		(1,239,797	)		(17,356,689	)		(19,000,352	)
	(105,023	)(1)		N/A			(1,643,321	)(1)		N/A
	(28,648,112	)		(19,100,258	)		—			—
	(2,548,769	)(1)		N/A			—	(1)		N/A
	(32,037,364	)		(20,340,055	)		(19,000,010	)		(19,000,352	)
	23,061,265			55,110,337			40,471,235			103,877,668
	36,761,238	(1)		N/A			66,984,930	(1)		N/A
	59,822,503			55,110,337			107,456,165			103,877,668
	28,994,832			20,070,441			17,130,230			18,741,852
	1,772,015	(1)		N/A			1,111,519	(1)		N/A
	30,766,847			20,070,441			18,241,749			18,741,852
	(64,669,964	)		(92,644,131	)		(128,204,633	)		(143,125,130	)
	(2,980,666	)(1)		N/A			(6,185,066	)(1)		N/A
	(67,650,630	)		(92,644,131	)		(134,389,699	)		(143,125,130	)
	22,938,720			(17,463,353	)		(8,691,785	)		(20,505,610	)
	28,273,745			36,605,970			70,787,718			112,374,053
	402,770,448			366,164,478			714,938,862			602,564,809
$	431,044,193		$	402,770,448		$	785,726,580		$	714,938,862
$	(243,591	)	$	(76,810	)	$	1,019,075		$	14,437,653
	874,237			2,219,009			3,373,081			9,996,607
	1,359,743	(1)		N/A			5,567,310	(1)		N/A
	1,100,373			788,003			1,382,585			1,832,048
	67,249	(1)		N/A			89,711	(1)		N/A
	(2,430,301	)		(3,716,376	)		(10,734,566	)		(13,721,237	)
	(110,631	)(1)		N/A			(508,582	)(1)		N/A
	860,670			(709,364	)		(830,461	)		(1,892,582	)

The accompanying notes are an integral part of these financial statements.
41

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	SA International Small Company Fund
	Six Months Ended
	December 31, 2017			Year Ended
	(Unaudited)			June 30, 2017
INCREASE (DECREASE) IN NET ASSETS
Operations:
Net investment income	$	4,757,000		$	2,105,583
Net realized gain (loss) on investments and foreign currency transactions		15,440,965			9,009,423
Net increase (decrease) in unrealized appreciation (depreciation)		19,267,869			57,529,930
Net increase (decrease) in net assets from operations		39,465,834			68,644,936
Distributions to shareholders from:
Net investment income
Investor Class		(6,137,546	)		(5,697,798	)
Select Class		(425,634	)(1)		N/A
Net realized gains
Investor Class		(8,374,869	)		(6,714,423	)
Select Class		(542,246	)(1)		N/A
Total distributions to shareholders		(15,480,295	)		(12,412,221	)
Capital share transactions
Proceeds from sale of shares
Investor Class		19,253,762			48,160,383
Select Class		23,966,437	(1)		N/A
		43,220,199			48,160,383
Value of distributions reinvested
Investor Class		14,300,429			12,250,170
Select Class		948,594	(1)		N/A
		15,249,023			12,250,170
Cost of shares redeemed
Investor Class		(59,389,701	)		(68,187,244	)
Select Class		(2,862,377	)(1)		N/A
		(62,252,078	)		(68,187,244	)
Total capital share transactions		(3,782,856	)		(7,776,691	)
Total increase (decrease) in net assets		20,202,683			48,456,024
NET ASSETS
Beginning of year		355,958,521			307,502,497
End of period	$	376,161,204		$	355,958,521
Undistributed (overdistributed) net investment income, end of period	$	(1,307,904	)	$	498,276
CAPITAL SHARE TRANSACTIONS
Shares sold by subscription
Investor Class		830,290			2,382,101
Select Class		1,046,619	(1)		N/A
Shares issued for distributions reinvested
Investor Class		615,072			650,567
Select Class		40,817	(1)		N/A
Shares redeemed
Investor Class		(2,571,452	)		(3,347,665	)
Select Class		(122,038	)(1)		N/A
Net increase (decrease) in fund shares		(160,692	)		(314,997	)

⁽¹⁾ For the period from July 3, 2017 (commencement of class operations) to December 31, 2017

The accompanying notes are an integral part of these financial statements.
42

SA Emerging Markets Value Fund						SA Real Estate Securities Fund
Six Months Ended						Six Months Ended
December 31, 2017			Year Ended			December 31, 2017			Year Ended
(Unaudited)			June 30, 2017			(Unaudited)			June 30, 2017
$	1,494,154		$	1,744,529		$	2,751,171		$	2,657,215
	3,483,650			1,497,927			1,648,955			3,711,505
	22,256,540			37,309,754			38,394			(11,814,816	)
	27,234,344			40,552,210			4,438,520			(5,446,096	)
	(2,620,219	)		(2,156,931	)		(1,951,404	)		(5,124,578	)
	(306,319	)(1)		N/A			(229,997	)(1)		N/A
	—			—			(2,568,625	)		(935,057	)
	—	(1)		N/A			(272,556	)(1)		N/A
	(2,926,538	)		(2,156,931	)		(5,022,582	)		(6,059,635	)
	15,063,145			37,445,922			12,460,680			29,133,080
	23,371,369	(1)		N/A			18,400,960	(1)		N/A
	38,434,514			37,445,922			30,861,640			29,133,080
	2,588,562			2,128,135			4,460,664			5,971,264
	218,812	(1)		N/A			349,651	(1)		N/A
	2,807,374			2,128,135			4,810,315			5,971,264
	(38,069,251	)		(40,203,719	)		(28,421,575	)		(37,664,788	)
	(2,006,507	)(1)		N/A			(1,487,724	)(1)		N/A
	(40,075,758	)		(40,203,719	)		(29,909,299	)		(37,664,788	)
	1,166,130			(629,662	)		5,762,656			(2,560,444	)
	25,473,936			37,765,617			5,178,594			(14,066,175	)
	204,553,203			166,787,586			172,149,658			186,215,833
$	230,027,139		$	204,553,203		$	177,328,252		$	172,149,658
$	(1,025,815	)	$	406,569		$	569,770		$	—
	1,474,478			4,252,033			1,085,304			2,545,186
	2,290,565	(1)		N/A			1,579,971	(1)		N/A
	247,473			262,086			401,862			546,319
	20,899	(1)		N/A			31,500	(1)		N/A
	(3,743,668	)		(4,549,544	)		(2,463,906	)		(3,256,155	)
	(194,461	)(1)		N/A			(128,778	)(1)		N/A
	95,286			(35,425	)		505,953			(164,650	)

The accompanying notes are an integral part of these financial statements.
43

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	SA Worldwide Moderate Growth Fund
	Six Months Ended
	December 31, 2017				Year Ended
	(Unaudited)				June 30, 2017
INCREASE (DECREASE) IN NET ASSETS
Operations:
Net investment income		$	328,457			$	250,885
Net realized gain (loss) on investments and foreign currency transactions			1,452,096				371,817
Net increase (decrease) in unrealized appreciation (depreciation)			830,586				1,834,977
Net increase (decrease) in net assets from operations			2,611,139				2,457,679
Distributions to shareholders from:
Net investment income			(374,586	)			(242,453	)
Net realized gains			(429,421	)			(90,385	)
Total distributions to shareholders			(804,007	)			(332,838	)
Capital share transactions
Proceeds from sale of shares			8,059,037				18,266,626
Value of distributions reinvested			796,946				329,206
Cost of shares redeemed			(7,675,808	)			(4,960,697	)
Total capital share transactions			1,180,175				13,635,135
Total increase (decrease) in net assets			2,987,307				15,759,976
NET ASSETS
Beginning of year			27,422,463				11,662,487
End of period		$	30,409,770			$	27,422,463
Undistributed (overdistributed) net investment income, end of period		$	(26,400	)		$	19,729
CAPITAL SHARE TRANSACTIONS
Shares sold by subscription			721,075				1,777,616
Shares issued for distributions reinvested			70,216				32,627
Shares redeemed			(671,035	)			(480,028	)
Net increase in fund shares			120,256				1,330,215

The accompanying notes are an integral part of these financial statements.
44

FINANCIAL HIGHLIGHTS

	SA U.S. Fixed Income Fund
	Six Months Ended
	December 31, 2017				Year Ended June 30,
Investor Class	(Unaudited)				2017			2016			2015			2014			2013
Net asset value, beginning
of period		$	10.18		$	10.22		$	10.20		$	10.19		$	10.20		$	10.24
Income from investment
operations:
Net investment income (loss)			(0.06	)		0.06			0.03			0.00	(1)		(0.02	)		(0.01	)
Net realized and unrealized
gain (loss) on investments			0.06			(0.05	)		0.03			0.01			0.01			—
Total from investment operations			—(1	)		0.01			0.06			0.01			(0.01	)		(0.01	)
Less distributions from:
Net investment income			(0.05	)		(0.05	)		(0.03	)		—			—			—
Capital gains			—			—			(0.01	)		(0.00	)(1)		(0.00	)(1)		(0.03	)
Total distributions			(0.05	)		(0.05	)		(0.04	)		(0.00	)(1)		(0.00	)(1)		(0.03	)
Net asset value, end
of period		$	10.13		$	10.18		$	10.22		$	10.20		$	10.19		$	10.20
Total return			0.01	%(2)		0.10	%		0.53	%		0.22	%		(0.07	)%		(0.10	)%
Net assets, end of period (000s)		$	566,190		$	606,640		$	615,114		$	612,129		$	564,205		$	430,976
Ratio of net expenses to
average net assets			0.65	%(3)		0.65	%		0.65	%		0.65	%		0.65	%		0.65	%
Ratio of gross expenses to
average net assets			0.65	%(3)		0.65	%		0.65	%		0.74	%(4)		0.75	%(4)		0.81	%(4)
Ratio of net investment income
(loss) to average net assets			0.80	%(3)		0.56	%		0.31	%		(0.01	)%		(0.23	)%		(0.14	)%
Portfolio turnover rate			45	%		115	%		140	%		202	%		94	%		33	%
Without giving effect to the expense
waiver described in Note 2
to the Financial Statements,
net investment income (loss)
per share would have been		$	(0.06	)	$	0.06		$	0.03		$	(0.01	)	$	(0.03	)	$	(0.03	)

(1)	Amount rounds to less than $0.005 per share.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
45

FINANCIAL HIGHLIGHTS (Continued)

	SA U.S. Fixed Income Fund
	Period Ended
	December 31, 2017(1)
Select Class	(Unaudited)
Net asset value, beginning of period		$	10.18		��
Income from investment operations:
Net investment loss			(0.08	)
Net realized and unrealized gain (loss) on investments			0.09
Total from investment operations			0.01
Less distributions from:
Net investment income			(0.06	)
Capital gains			—
Total distributions			(0.06	)
Net asset value, end of period		$	10.13
Total return			0.12	%(2)
Net assets, end of period (000s)		$	42,863
Ratio of net expenses to average net assets			0.43	%(3)
Ratio of gross expenses to average net assets			0.45	%(3)
Ratio of net investment income to average net assets			1.05	%(3)
Portfolio turnover rate			45	%
Without giving effect to the expense waiver described in Note 2 to the Financial
Statements, net investment income (loss) per share would have been		$	(0.08	)

(1)	For the period from July 3, 2017 (commencement of class operations) to December 31, 2017.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.

The accompanying notes are an integral part of these financial statements.
46

FINANCIAL HIGHLIGHTS (Continued)

	SA Global Fixed Income Fund
	Six Months Ended
	December 31, 2017				Year Ended June 30,
Investor Class	(Unaudited)				2017			2016			2015			2014			2013
Net asset value, beginning
of period		$	9.63		$	9.79		$	9.63		$	9.69		$	9.68		$	9.95
Income from investment
operations:
Net investment income (loss)			(0.03	)		0.09			0.06			0.11			0.10			0.11
Net realized and unrealized
gain (loss) on investments			0.04			(0.13	)		0.17			(0.01	)		—			(0.06	)
Total from investment operations			0.01			(0.04	)		0.23			0.10			0.10			0.05
Less distributions from:
Net investment income			(0.04	)		(0.10	)		(0.06	)		(0.15	)		(0.09	)		(0.32	)
Capital gains			—(1	)		(0.02	)		(0.01	)		(0.01	)		—			—
Total distributions			(0.04	)		(0.12	)		(0.07	)		(0.16	)		(0.09	)		(0.32	)
Net asset value, end
of period		$	9.60		$	9.63		$	9.79		$	9.63		$	9.69		$	9.68
Total return			0.14	%(2)		(0.33	)%		2.32	%		1.00	%		0.99	%		0.48	%
Net assets, end of period (000s)		$	677,291		$	721,120		$	732,949		$	753,463		$	724,587		$	603,798
Ratio of net expenses to
average net assets			0.73	%(3)		0.73	%		0.73	%		0.79	%		0.80	%		0.80	%
Ratio of gross expenses to
average net assets			0.73	%(3)		0.73	%		0.73	%		0.79	%		0.80	%(4)		0.80	%(4)
Ratio of net investment income
to average net assets			1.05	%(3)		1.06	%		0.91	%		1.04	%		1.00	%		1.19	%
Portfolio turnover rate			25	%		41	%		42	%		72	%		24	%		36	%
Without giving effect to the expense
waiver described in Note 2
to the Financial Statements,
net investment income (loss)
per share would have been		$	(0.03	)	$	0.09		$	0.06		$	0.11		$	0.10		$	0.11

(1)	Amount rounds to less than $0.005 per share.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
47

FINANCIAL HIGHLIGHTS (Continued)

	SA Global Fixed Income Fund
	Period Ended
	December 31, 2017(1)
Select Class	(Unaudited)
Net asset value, beginning of period		$	9.62
Income from investment operations:
Net investment loss			(0.06	)
Net realized and unrealized gain (loss) on investments			0.08
Total from investment operations			0.02
Less distributions from:
Net investment income			(0.05	)
Capital gains			—(2	)
Total distributions			(0.05	)
Net asset value, end of period		$	9.59
Total return			0.25	%(3)
Net assets, end of period (000s)		$	45,696
Ratio of net expenses to average net assets			0.53	%(4)
Ratio of gross expenses to average net assets			0.55	%(4)
Ratio of net investment income to average net assets			1.25	%(4)
Portfolio turnover rate			25	%
Without giving effect to the expense waiver described in Note 2 to the Financial
Statements, net investment income (loss) per share would have been		$	(0.06	)

(1)	For the period from July 3, 2017 (commencement of class operations) to December 31, 2017.
(2)	Amount rounds to less than $0.005 per share.
(3)	Periods less than one year are not annualized.
(4)	Annualized for periods less than one year.

The accompanying notes are an integral part of these financial statements.
48

FINANCIAL HIGHLIGHTS (Continued)

	SA U.S. Core Market Fund
	Six Months Ended
	December 31, 2017				Year Ended June 30,
Investor Class	(Unaudited)				2017			2016			2015			2014			2013
Net asset value, beginning
of period		$	21.71		$	19.56		$	19.47		$	18.49		$	14.99		$	12.57
Income from investment
operations:
Net investment income (loss)			(0.30	)		0.22			0.21			0.19			0.14			0.17
Net realized and unrealized
gain (loss) on investments			2.94			3.16			0.05			0.95			3.50			2.44
Total from investment operations			2.64			3.38			0.26			1.14			3.64			2.61
Less distributions from:
Net investment income			(0.22	)		(0.26	)		(0.17	)		(0.16	)		(0.14	)		(0.19	)
Capital gains			(0.74	)		(0.97	)		—			—			—			—
Total distributions			(0.96	)		(1.23	)		(0.17	)		(0.16	)		(0.14	)		(0.19	)
Net asset value, end
of period		$	23.39		$	21.71		$	19.56		$	19.47		$	18.49		$	14.99
Total return			12.12	%(1)		17.81	%		1.31	%		6.22	%		24.36	%		20.98	%
Net assets, end of period (000s)		$	719,390		$	731,679		$	668,601		$	699,644		$	662,126		$	482,418
Ratio of net expenses to
average net assets			0.93	%(2)		0.93	%		0.98	%		1.00	%		1.00	%		1.00	%
Ratio of gross expenses to
average net assets			0.93	%(2)		0.93	%		0.98	%		1.00	%		1.00	%(3)		1.07	%(3)
Ratio of net investment income
to average net assets			0.93	%(2)		1.06	%		1.09	%		0.99	%		0.89	%		1.20	%
Portfolio turnover rate			4	%		8	%		11	%		10	%		11	%		5	%
Without giving effect to the
expense waiver described
in Note 2 to the Financial
Statements, net investment
income (loss) per share
would have been		$	(0.30	)	$	0.22		$	0.21		$	0.19		$	0.14		$	0.16

(1)	Periods less than one year are not annualized.
(2)	Annualized for periods less than one year.
(3)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
49

FINANCIAL HIGHLIGHTS (Continued)

	SA U.S. Core Market Fund
	Period Ended
	December 31, 2017(1)
Select Class	(Unaudited)
Net asset value, beginning of period		$	21.74
Income from investment operations:
Net investment loss			(0.43	)
Net realized and unrealized gain (loss) on investments			3.05
Total from investment operations			2.62
Less distributions from:
Net investment income			(0.25	)
Capital gains			(0.74	)
Total distributions			(0.99	)
Net asset value, end of period		$	23.37
Total return			12.01	%(2)
Net assets, end of period (000s)		$	70,822
Ratio of net expenses to average net assets			0.73	%(3)
Ratio of gross expenses to average net assets			0.74	%(3)(4)
Ratio of net investment income to average net assets			1.10	%(3)
Portfolio turnover rate			4	%
Without giving effect to the expense waiver described in Note 2 to the Financial
Statements, net investment income (loss) per share would have been		$	(0.43	)

(1)	For the period from July 3, 2017 (commencement of class operations) to December 31, 2017.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
50

FINANCIAL HIGHLIGHTS (Continued)

	SA U.S. Value Fund
	Six Months Ended
	December 31, 2017				Year Ended June 30,
Investor Class	(Unaudited)				2017			2016			2015			2014			2013
Net asset value, beginning
of period		$	18.51		$	16.11		$	17.45		$	18.08		$	14.63		$	11.22
Income from investment
operations:
Net investment income (loss)			(0.32	)		0.22			0.24			0.20			0.14			0.15
Net realized and unrealized
gain (loss) on investments			2.55			3.07			(0.52	)		0.23			3.77			3.41
Total from investment
operations			2.23			3.29			(0.28	)		0.43			3.91			3.56
Less distributions from:
Net investment income			(0.24	)		(0.25	)		(0.22	)		(0.17	)		(0.13	)		(0.15	)
Capital gains			(1.71	)		(0.64	)		(0.84	)		(0.89	)		(0.33	)		—
Total distributions			(1.95	)		(0.89	)		(1.06	)		(1.06	)		(0.46	)		(0.15	)
Net asset value, end
of period		$	18.79		$	18.51		$	16.11		$	17.45		$	18.08		$	14.63
Total return			11.98	%(1)		20.67	%		(1.35	)%		2.54	%		27.01	%		31.92	%
Net assets, end of period (000s)		$	568,930		$	572,841		$	519,215		$	546,453		$	526,814		$	383,854
Ratio of net expenses to
average net assets			0.99	%(2)		1.00	%		1.05	%		1.05	%		1.05	%		1.05	%
Ratio of gross expenses
to average net assets			0.99	%(2)		1.00	%		1.05	%		1.05	%(3)		1.06	%(3)		1.14	%(3)
Ratio of net investment income
to average net assets			1.44	%(2)		1.29	%		1.55	%		1.17	%		0.90	%		1.14	%
Portfolio turnover rate			10	%		16	%		21	%		23	%		20	%		21	%
Without giving effect to the
expense waiver described
in Note 2 to the Financial
Statements, net investment
income (loss) per share
would have been		$	(0.32	)	$	0.22		$	0.24		$	0.20		$	0.14		$	0.14

(1)	Periods less than one year are not annualized.
(2)	Annualized for periods less than one year.
(3)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
51

FINANCIAL HIGHLIGHTS (Continued)

	SA U.S. Value Fund
	Period Ended
	December 31, 2017(1)
Select Class	(Unaudited)
Net asset value, beginning of period		$	18.62
Income from investment operations:
Net investment loss			(0.46	)
Net realized and unrealized gain (loss) on investments			2.60
Total from investment operations			2.14
Less distributions from:
Net investment income			(0.26	)
Capital gains			(1.71	)
Total distributions			(1.97	)
Net asset value, end of period		$	18.79
Total return			11.46	%(2)
Net assets, end of period (000s)		$	53,482
Ratio of net expenses to average net assets			0.79	%(3)
Ratio of gross expenses to average net assets			0.81	%(3)(4)
Ratio of net investment income to average net assets			1.34	%(3)
Portfolio turnover rate			10	%
Without giving effect to the expense waiver described in Note 2 to the Financial
Statements, net investment income (loss) per share would have been		$	(0.46	)

(1)	For the period from July 3, 2017 (commencement of class operations) to December 31, 2017.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
52

FINANCIAL HIGHLIGHTS (Continued)

	SA U.S. Small Company Fund
	Six Months Ended
	December 31, 2017				Year Ended June 30,
Investor Class	(Unaudited)				2017			2016			2015			2014			2013
Net asset value, beginning
of period		$	25.76		$	22.40		$	25.64		$	25.77		$	21.29		$	16.94
Income from investment
operations:
Net investment income (loss)			(0.06	)		0.05			0.09			0.07			0.01			0.18
Net realized and unrealized
gain (loss) on investments			2.51			4.62			(1.48	)		1.11			5.12			4.40
Total from investment operations			2.45			4.67			(1.39	)		1.18			5.13			4.58
Less distributions from:
Net investment income			(0.05	)		(0.08	)		(0.09	)		(0.03	)		(0.03	)		(0.21	)
Capital gains			(2.03	)		(1.23	)		(1.76	)		(1.28	)		(0.62	)		(0.02	)
Total distributions			(2.08	)		(1.31	)		(1.85	)		(1.31	)		(0.65	)		(0.23	)
Net asset value, end
of period		$	26.13		$	25.76		$	22.40		$	25.64		$	25.77		$	21.29
Total return			9.40	%(1)		20.90	%		(5.23	)%		4.81	%		24.29	%		27.26	%
Net assets, end of period (000s)		$	396,648		$	402,770		$	366,164		$	404,400		$	385,094		$	298,211
Ratio of net expenses to
average net assets			1.20	%(2)		1.20	%		1.20	%		1.20	%		1.20	%		1.20	%
Ratio of gross expenses to
average net assets (3)			1.27	%(2)		1.27	%		1.28	%		1.34	%		1.35	%		1.43	%
Ratio of net investment income
to average net assets			0.31	%(2)		0.26	%		0.42	%		0.27	%		0.05	%		0.96	%
Portfolio turnover rate			8	%		12	%		12	%		11	%		13	%		23	%
Without giving effect to the expense
waiver described in Note 2 to
the Financial Statements, net
investment income (loss) per
share would have been		$	(0.07	)	$	0.03		$	0.07		$	0.03		$	(0.01	)	$	0.14

(1)	Periods less than one year are not annualized.
(2)	Annualized for periods less than one year.
(3)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
53

FINANCIAL HIGHLIGHTS (Continued)

	SA U.S. Small Company Fund
	Period Ended
	December 31, 2017(1)
Select Class	(Unaudited)
Net asset value, beginning of period		$	25.96
Income from investment operations:
Net investment loss			(0.12	)
Net realized and unrealized gain (loss) on investments			2.40
Total from investment operations			2.28
Less distributions from:
Net investment income			(0.08	)
Capital gains			(2.03	)
Total distributions			(2.11	)
Net asset value, end of period		$	26.13
Total return			8.72	%(2)
Net assets, end of period (000s)		$	34,396
Ratio of net expenses to average net assets			1.00	%(3)
Ratio of gross expenses to average net assets			1.10%	(3)(4)
Ratio of net investment income to average net assets			0.73	%(3)
Portfolio turnover rate			8	%
Without giving effect to the expense waiver described in Note 2 to the Financial
Statements, net investment income (loss) per share would have been		$	(0.23	)

(1)	For the period from July 3, 2017 (commencement of class operations) to December 31, 2017.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
54

FINANCIAL HIGHLIGHTS (Continued)

	SA International Value Fund
	Six Months Ended
	December 31, 2017				Year Ended June 30,
Investor Class	(Unaudited)				2017			2016			2015			2014			2013
Net asset value, beginning
of period		$	11.20		$	9.16		$	11.34		$	12.59		$	10.16		$	8.96
Income from investment
operations:
Net investment income (loss)			(0.49	)		0.27			0.25			0.22			0.40			0.23
Net realized and unrealized
gain (loss) on investments			2.07			2.07			(2.24	)		(1.08	)		2.25			1.25
Total from investment operations			1.58			2.34			(1.99	)		(0.86	)		2.65			1.48
Less distributions from:
Net investment income			(0.31	)		(0.30	)		(0.19	)		(0.39	)		(0.22	)		(0.28	)
Capital gains			—			—			—			—			—			—
Total distributions			(0.31	)		(0.30	)		(0.19	)		(0.39	)		(0.22	)		(0.28	)
Net asset value, end
of period		$	12.47		$	11.20		$	9.16		$	11.34		$	12.59		$	10.16
Total return			14.10	%(1)		25.81	%		(17.66	)%		(6.62	)%		26.23	%		16.59	%
Net assets, end of period (000s)		$	721,545		$	714,939		$	602,565		$	710,710		$	725,911		$	522,423
Ratio of net expenses to
average net assets			1.14	%(2)		1.13	%(3)		1.16	%		1.26	%		1.26	%		1.33	%
Ratio of gross expenses to
average net assets			1.14	%(2)		1.13	%(3)		1.16	%		1.26	%		1.26	%		1.33	%
Ratio of net investment income
to average net assets			1.48	%(2)		2.51	%		2.51	%		2.12	%		3.58	%		2.32	%
Portfolio turnover rate			9	%		17	%		21	%		21	%		15	%		17	%
Without giving effect to the expense
waiver described in Note 2
to the Financial Statements,
net investment income (loss)
per share would have been		$	(0.49	)	$	0.27		$	0.25		$	0.22		$	0.40		$	0.23

(1)	Periods less than one year are not annualized.
(2)	Annualized for periods less than one year.
(3)	Reflects the fund’s receipt of a one time reimbursement of custody expenses paid in prior years. Had such reimbursement not been included in this period, the annualized net and gross expense ratios would have been 1.15% and 1.15%, respectively.

The accompanying notes are an integral part of these financial statements.
55

FINANCIAL HIGHLIGHTS (Continued)

	SA International Value Fund
	Period Ended
	December 31, 2017(1)
Select Class	(Unaudited)
Net asset value, beginning of period		$	11.28
Income from investment operations:
Net investment loss			(0.60	)
Net realized and unrealized gain (loss) on investments			2.11
Total from investment operations			1.51
Less distributions from:
Net investment income			(0.32	)
Capital gains			—
Total distributions			(0.32	)
Net asset value, end of period		$	12.47
Total return			13.43	%(2)
Net assets, end of period (000s)		$	64,181
Ratio of net expenses to average net assets			0.94	%(3)
Ratio of gross expenses to average net assets			0.96%	(3)(4)
Ratio of net investment income to average net assets			1.56	%(3)
Portfolio turnover rate			9	%
Without giving effect to the expense waiver described in Note 2 to the Financial
Statements, net investment income (loss) per share would have been		$	(0.60	)

(1)	For the period from July 3, 2017 (commencement of class operations) to December 31, 2017.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
56

FINANCIAL HIGHLIGHTS (Continued)

	SA International Small Company Fund
	Six Months Ended
	December 31, 2017				Year Ended June 30,
Investor Class	(Unaudited)				2017			2016			2015			2014			2013
Net asset value, beginning
of period		$	22.09		$	18.72		$	20.43		$	22.05		$	17.30		$	15.07
Income from investment
operations:
Net investment income (loss)			(0.54	)		0.18			0.42			0.23			0.15			0.24
Net realized and unrealized
gain (loss) on investments			3.04			3.97			(1.40	)		(1.42	)		4.95			2.39
Total from investment operations			2.50			4.15			(0.98	)		(1.19	)		5.10			2.63
Less distributions from:
Net investment income			(0.43	)		(0.36	)		(0.19	)		(0.31	)		(0.35	)		(0.40	)
Capital gains			(0.58	)		(0.42	)		(0.54	)		(0.12	)		—			—
Total distributions			(1.01	)		(0.78	)		(0.73	)		(0.43	)		(0.35	)		(0.40	)
Net asset value, end
of period		$	23.58		$	22.09		$	18.72		$	20.43		$	22.05		$	17.30
Total return			11.37	%(1)		22.87	%		(4.81	)%		(5.21	)%		29.68	%		17.55	%
Net assets, end of period (000s)		$	353,405		$	355,959		$	307,502		$	337,659		$	337,334		$	233,313
Ratio of net expenses to
average net assets †			0.96	%(2)		0.96	%(3)		1.04	%		1.10	%		1.10	%		1.10	%
Ratio of gross expenses to
average net assets †			0.96	%(2)		0.96	%(3)		1.04	%		1.12	%(4)		1.10	%(4)		1.17	%(4)
Ratio of net investment income
to average net assets †			2.51	%(2)		0.64	%		2.15	%		1.15	%		0.75	%		1.46	%
Ratio of expenses to average
net assets for the DFA
Portfolio (unaudited) (5)†			0.53	%		0.53	%		0.53	%		0.53	%		0.53	%		0.56	%
Ratio of expenses to average net
assets for the DFA Portfolio (6)†			0.53	%		0.53	%		0.54	%		0.53	%		0.54	%		0.56	%
Portfolio turnover rate			5	%		0	%		0	%		0	%		0	%		0	%
Without giving effect to the
expense waiver described
in Note 2 to the Financial
Statements, net investment
income (loss) per share
would have been		$	(0.54	)	$	0.18		$	0.42		$	0.23		$	0.15		$	0.23

†	The DFA Portfolio expenses are not included in the stated expense information of the SA International Small Company Fund. The financial statements of the DFA Portfolio are included elsewhere in this report.
(1)	Periods less than one year are not annualized.
(2)	Annualized for periods less than one year.
(3)	Reflects the fund’s receipt of a one time reimbursement of custody expenses paid in prior years. Had such reimbursement not been included in this period, the annualized net and gross expense ratios would have been 0.97% and 0.97%, respectively.
(4)	Gross expenses before waivers of expenses.
(5)	The DFA Portfolio expense ratios are as of April 30, 2017, 2016, 2015, 2014 and 2013, respectively and are unaudited.
(6)	The DFA Portfolio expense ratios are for the fiscal years ended October 31, 2017, 2016, 2015, 2014, 2013 and 2012, respectively.

The accompanying notes are an integral part of these financial statements.
57

FINANCIAL HIGHLIGHTS (Continued)

	SA International Small Company Fund
	Period Ended
	December 31, 2017(1)
Select Class	(Unaudited)
Net asset value, beginning of period		$	22.01
Income from investment operations:
Net investment loss			(0.58	)
Net realized and unrealized gain (loss) on investments			3.18
Total from investment operations			2.60
Less distributions from:
Net investment income			(0.46	)
Capital gains			(0.58	)
Total distributions			(1.04	)
Net asset value, end of period		$	23.57
Total return			11.87	%(2)
Net assets, end of period (000s)		$	22,756
Ratio of net expenses to average net assets			0.76	%(3)
Ratio of gross expenses to average net assets			0.79%	(3)(4)
Ratio of net investment income to average net assets			4.35	%(3)
Portfolio turnover rate			5	%
Without giving effect to the expense waiver described in Note 2 to the
Financial Statements, net investment income (loss) per share would have been		$	(0.58	)

(1)	For the period from July 3, 2017 (commencement of class operations) to December 31, 2017.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
58

FINANCIAL HIGHLIGHTS (Continued)

	SA Emerging Markets Value Fund
	Six Months Ended
	December 31, 2017				Year Ended June 30,
Investor Class	(Unaudited)				2017			2016			2015			2014			2013
Net asset value, beginning
of period		$	9.56		$	7.78		$	9.05		$	10.51		$	9.32		$	9.28
Income from investment
operations:
Net investment income (loss)			(0.19	)		0.09			0.11			0.11			0.10			0.08
Net realized and unrealized
gain (loss) on investments			1.47			1.79			(1.29	)		(1.43	)		1.26			0.03
Total from investment operations			1.28			1.88			(1.18	)		(1.32	)		1.36			0.11
Less distributions from:
Net investment income			(0.14	)		(0.10	)		(0.09	)		(0.13	)		(0.08	)		(0.07	)
Capital gains			—			—			—			(0.01	)		(0.09	)		—
Total distributions			(0.14	)		(0.10	)		(0.09	)		(0.14	)		(0.17	)		(0.07	)
Net asset value, end
of period		$	10.70		$	9.56		$	7.78		$	9.05		$	10.51		$	9.32
Total return			13.39	%(1)		24.42	%		(12.95	)%		(12.53	)%		14.70	%		1.13	%
Net assets, end of period (000s)		$	207,356		$	204,553		$	166,788		$	167,220		$	162,333		$	96,991
Ratio of net expenses to
average net assets			1.40	%(2)		1.40	%		1.40	%		1.45	%		1.45	%		1.45	%
Ratio of gross expenses to
average net assets (3)			1.64	%(2)		1.66	%		1.72	%		1.83	%		1.93	%		2.03	%
Ratio of net investment income
to average net assets			1.42	%(2)		0.93	%		1.52	%		1.17	%		1.12	%		0.90	%
Portfolio turnover rate			10	%		21	%		13	%		14	%		10	%		7	%
Without giving effect to the expense
waiver described in Note 2 to
the Financial Statements, net
investment income (loss) per
share would have been		$	(0.20	)	$	0.07		$	0.09		$	0.07		$	0.06		$	0.03

(1)	Periods less than one year are not annualized.
(2)	Annualized for periods less than one year.
(3)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
59

FINANCIAL HIGHLIGHTS (Continued)

	SA Emerging Markets Value Fund
	Period Ended
	December 31, 2017(1)
Select Class	(Unaudited)
Net asset value, beginning of period		$	9.61
Income from investment operations:
Net investment loss			(0.28	)
Net realized and unrealized gain (loss) on investments			1.53
Total from investment operations			1.25
Less distributions from:
Net investment income			(0.15	)
Capital gains			—
Total distributions			(0.15	)
Net asset value, end of period		$	10.71
Total return			12.99	%(2)
Net assets, end of period (000s)		$	22,671
Ratio of net expenses to average net assets			1.20	%(3)
Ratio of gross expenses to average net assets			1.45	%(3)(4)
Ratio of net investment income to average net assets			0.53	%(3)
Portfolio turnover rate			10	%
Without giving effect to the expense waiver described in Note 2 to the Financial
Statements, net investment income (loss) per share would have been		$	(0.41	)

(1)	For the period from July 3, 2017 (commencement of class operations) to December 31, 2017.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
60

FINANCIAL HIGHLIGHTS (Continued)

	SA Real Estate Securities Fund
	Six Months Ended
	December 31, 2017				Year Ended June 30,
Investor Class	(Unaudited)				2017			2016			2015			2014			2013
Net asset value, beginning
of period		$	11.38		$	12.17		$	10.03		$	9.94		$	9.04		$	8.50
Income from investment
operations:
Net investment income (loss)			(0.10	)		0.21			0.26			0.19			0.20			0.15
Net realized and unrealized
gain (loss) on investments			0.39			(0.59	)		2.07			0.13			0.86			0.51
Total from investment operations			0.29			(0.38	)		2.33			0.32			1.06			0.66
Less distributions from:
Net investment income			(0.14	)		(0.35	)		(0.19	)		(0.23	)		(0.16	)		(0.12	)
Capital gains			(0.19	)		(0.06	)		—			—			—			—
Total distributions			(0.33	)		(0.41	)		(0.19	)		(0.23	)		(0.16	)		(0.12	)
Net asset value, end
of period		$	11.34		$	11.38		$	12.17		$	10.03		$	9.94		$	9.04
Total return			2.60	%(1)		(2.98	)%		23.56	%		3.12	%		12.10	%		7.81	%
Net assets, end of period (000s)		$	160,521		$	172,150		$	186,216		$	160,246		$	150,198		$	105,040
Ratio of net expenses to
average net assets			1.00	%(2)		1.00	%		1.00	%		1.00	%		1.00	%		1.00	%
Ratio of gross expenses to
average net assets (3)			1.05	%(2)		1.05	%		1.06	%		1.23	%		1.31	%		1.38	%
Ratio of net investment income
to average net assets			3.10	%(2)		1.53	%		2.43	%		1.85	%		2.43	%		1.67	%
Portfolio turnover rate			5	%		7	%		7	%		3	%		0	%(4)		2	%
Without giving effect to the expense
waiver described in Note 2
to the Financial Statements,
Net investment income (loss)
per share would have been		$	(0.10	)	$	0.20		$	0.25		$	0.17		$	0.18		$	0.11

(1)	Periods less than one year are not annualized.
(2)	Annualized for periods less than one year.
(3)	Gross expenses before waivers of expenses.
(4)	Amount rounds to less than 0.5%.

The accompanying notes are an integral part of these financial statements.
61

FINANCIAL HIGHLIGHTS (Continued)

	SA Real Estate Securities Fund
	Period Ended
	December 31, 2017(1)
Select Class	(Unaudited)
Net asset value, beginning of period		$	11.53
Income from investment operations:
Net investment loss			(0.20	)
Net realized and unrealized gain (loss) on investments			0.36
Total from investment operations			0.16
Less distributions from:
Net investment income			(0.16	)
Capital gains			(0.19	)
Total distributions			(0.35	)
Net asset value, end of period		$	11.34
Total return			1.41	%(2)
Net assets, end of period (000s)		$	16,807
Ratio of net expenses to average net assets			0.80	%(3)
Ratio of gross expenses to average net assets			0.86	%(3)(4)
Ratio of net investment income to average net assets			4.18	%(3)
Portfolio turnover rate			5	%
Without giving effect to the expense waiver described in Note 2 to the Financial
Statements, net investment income (loss) per share would have been		$	(0.23	)

(1)	For the period from July 3, 2017 (commencement of class operations) to December 31, 2017.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
62

FINANCIAL HIGHLIGHTS (Continued)

	SA Worldwide Moderate Growth Fund
	Six Months Ended
	December 31, 2017				Year Ended June 30,
	(Unaudited)				2017			2016‡
Net asset value, beginning of period		$	10.73		$	9.51		$	10.00
Income from investment operations:
Net investment income			0.12	(1)		0.14			0.10
Net realized and unrealized gain (loss) on investments			0.83			1.27			(0.49	)
Total from investment operations			0.95			1.41			(0.39	)
Less distributions from:
Net investment income			(0.15	)		(0.14	)		(0.10	)
Capital gains			(0.17	)		(0.05	)		—
Total distributions			(0.32	)		(0.19	)		(0.10	)
Net asset value, end of period		$	11.36		$	10.73		$	9.51
Total return			8.78	%(2)		15.04	%		(3.89	)%(2)
Net assets, end of period (000s)		$	30,410		$	27,422		$	11,662
Ratio of net expenses to average net assets			0.00	%(3)		0.00	%		0.00	%(3)
Ratio of gross expenses to average net assets (4)			0.53	%(3)		0.61	%		2.72	%(3)
Ratio of net investment income to average net assets			2.12	%(3)		1.32	%		1.11	%(3)
Portfolio turnover rate			19	%		11	%		5	%
Without giving effect to the expense waiver described
in Note 2 to the Financial Statements, net investment
income (loss) per share would have been		$	0.10		$	0.10		$	(0.02	)

‡	Fund commenced operations on July 1, 2015.
(1)	Calculated based upon average shares outstanding.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.

The accompanying notes are an integral part of these financial statements.
63

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2017 (Unaudited)

1. Organization and Significant Accounting Policies

SA Funds — Investment Trust (the “Trust”) is a Delaware statutory trust that was organized on June 16, 1998. The Agreement and Declaration of Trust permits the Trust to offer separate portfolios (“Funds”) of shares of beneficial interest and different classes of shares of each Fund. The Trust is registered under the Investment Company Act of 1940 (the “1940 Act”), and currently offers the following ten Funds, each of which (with the exception of the SA Worldwide Moderate Growth Fund) is a diversified mutual fund as defined in the 1940 Act:

SA U.S. Fixed Income Fund
SA Global Fixed Income Fund
SA U.S. Core Market Fund
SA U.S. Value Fund
SA U.S. Small Company Fund
SA International Value Fund
SA International Small Company Fund
SA Emerging Markets Value Fund
SA Real Estate Securities Fund
SA Worldwide Moderate Growth Fund

All of the Funds commenced investment operations on August 5, 1999, except the SA Global Fixed Income Fund, which commenced operations on July 29, 1999, the SA U.S. Fixed Income Fund, SA Emerging Markets Value Fund, and SA Real Estate Securities Fund, which commenced operations on April 2, 2007, and the SA Worldwide Moderate Growth Fund, which commenced operations on July 1, 2015.

Effective July 3, 2017, the single class of shares of each SA Fund, with the exception of the SA Worldwide Moderate Growth Fund, was renamed Investor Class shares. Also, effective July 3, 2017, each SA Fund, with the exception of the SA Worldwide Moderate Growth Fund, began offering Select Class shares.

The SA International Small Company Fund invests substantially all of its assets in the International Small Company Portfolio (the “DFA Portfolio”), a series of DFA Investment Dimensions Group Inc., a separate registered investment company. The DFA Portfolio has the same investment objective as SA International Small Company Fund and invests its assets in The Japanese Small Company Series, The Asia Pacific Small Company Series, The United Kingdom Small Company Series, The Continental Small Company Series and The Canadian Small Company Series, each a series of The DFA Investment Trust Company (each a “Series”), an open-end management investment company. As of December 31, 2017, the SA International Small Company Fund held approximately 2.69% of the DFA Portfolio. The performance of the SA International Small Company Fund is directly affected by the performance of the DFA Portfolio. The financial statements of the DFA Portfolio and the Series in which it invests are included elsewhere in this report and should be read in conjunction with the financial statements of the SA International Small Company Fund.

The SA Worldwide Moderate Growth Fund invests substantially all of its assets in the Underlying SA Funds managed by LWI Financial Inc. (the “Adviser”) comprising various asset categories and strategies. The Adviser has established an asset allocation target for the Fund. This target is the approximate percentage of the Fund’s assets that will be invested in equity investments and fixed income investments. Under normal market conditions, the Fund currently expects that it will invest approximately 75% of its assets in equity investments and approximately 25% of its assets in fixed income investments as represented by the holdings of the Underlying SA Funds. The

64

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2017 (Unaudited) (Continued)

performance of the SA Worldwide Moderate Growth Fund is directly affected by the performance of the Underlying SA Funds. The financial statements of the Underlying SA Funds are included elsewhere in the report and should be read in conjunction with the financial statements of the SA Worldwide Moderate Growth Fund.

Use of Estimates — The Funds are investment companies that follow the accounting and reporting guidance of Accounting Standards Codification Topic 946 applicable to investment companies.

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

The following summarizes the significant accounting policies of the Funds:

Security Valuation — Domestic equity securities listed on an exchange or stock market for which market quotations are readily available are valued according to the official closing price, if any, or at their last reported sale price on the exchange or stock market where the security is primarily traded, or in the absence of such reported prices, at the mean between the most recent quoted bid and asked prices. Domestic equity securities traded on the over-the-counter markets are valued at the mean between the most recent quoted bid and asked prices in the absence of an official closing price or last reported sale price.

Foreign equity securities traded on a foreign exchange or over-the-counter markets are generally valued at the most recent quoted bid price in the absence of an official closing price or last reported sale price. Foreign securities quoted in foreign currencies are translated into U.S. dollars using prevailing exchange rates.

Fixed income investments are generally valued based on prices received from independent pricing services. In determining the value of a fixed income investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrixes, market transactions in comparable investments, various relationships observed in the market between investments and calculated yield measures.

Shares of registered open-end investment companies are valued at the investment company’s net asset value. Forward currency contracts are valued based on prices received from independent pricing services. Securities for which market quotations are not readily available, or for which available quotations appear not to accurately reflect the current value of an investment, are valued at fair value as determined in good faith by a pricing committee (the “Pricing Committee”) (or its designee) appointed by the Board of Trustees of the Trust (the “Board” or the “Trustees”) pursuant to procedures approved by the Board.

Certain Funds hold securities traded in foreign markets. Foreign securities are valued at the latest market price in the foreign market. However, if events occurring after the close of the foreign market (but before the close of regular trading on the New York Stock Exchange) are believed to materially affect the value of those securities, such securities may be valued at fair value as determined in good faith by the Pricing Committee (or its designee). Any determinations of fair value made by the Pricing Committee (or its designee) are presented to the Board for ratification.

Valuation of securities by the DFA Portfolio and the Series in which it invests is discussed in the “Selected Financial Statements of DFA Investment Dimensions Group Inc. – Notes to Financial Statements,” and “Selected Financial Statements of the DFA Investment Trust Company – Notes to Financial Statements,” which are included elsewhere in this report.

65

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2017 (Unaudited) (Continued)

Class allocation — Class specific expenses are charged directly to that share class. Investment income, common expenses, and realized and unrealized gains (losses) on investments are allocated daily to each class of shares based on the relative proportion of net assets of each class.

Fair Value Measurement — The Board has adopted provisions respecting fair value measurement which provide enhanced guidance to the Pricing Committee (or its designee) for using fair value to measure assets and liabilities. The Funds value their investments based on a three-level hierarchy of inputs that establishes classification of fair value measurements for disclosure purposes. If inputs used to measure a financial instrument fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. The three-level hierarchy of inputs is summarized in the three broad levels below.

Level 1 – quoted prices in active markets for identical investments.

Level 2 – significant observable inputs other than quoted prices within Level 1 (including quoted prices for similar investments, interest rates, yield curves, foreign exchange rates, put or call provisions, credit risk and default rates for similar securities).

Level 3 – significant unobservable inputs to the extent that observable inputs are not available (including the Pricing Committee’s own assumptions used to determine the fair value of investments).

Fair value pricing involves subjective judgment and it is possible that the fair value determined for a security is materially different than the value that could be realized upon the sale of that security. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The tables below provide a summary of the inputs as of December 31, 2017, in valuing each Fund’s investments:

	Investments in Securities
	Unadjusted Quoted
	Prices in Active					Significant
	Markets for Identical		Significant Other			Unobservable		Total Balance
	Investments		Observable Inputs			Inputs		as of
Description	(Level 1)		(Level 2)			(Level 3)		December 31, 2017
SA U.S. Fixed Income Fund(a)
Bonds and Notes	$	—	$	603,182,203		$	—	$	603,182,203
Short-Term Investments		2,316,067		—			—		2,316,067
Total Investments	$	2,316,067	$	603,182,203		$	—	$	605,498,270
SA Global Fixed Income Fund(a)
Assets
Bonds and Notes	$	—	$	716,580,833		$	—	$	716,580,833
Short-Term Investments		26,293,504		—			—		26,293,504
Other Financial Instruments
Forward Foreign Currency Contracts		—		835,294			—		835,294
Total Investments	$	26,293,504	$	717,416,127		$	—	$	743,709,631
Liabilities
Other Financial Instruments
Forward Foreign Currency Contracts	$	—	$	(2,350,931	)	$	—	$	(2,350,931	)

66

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2017 (Unaudited) (Continued)

	Investments in Securities
	Unadjusted Quoted
	Prices in Active					Significant
	Markets for Identical			Significant Other		Unobservable			Total Balance
	Investments			Observable Inputs		Inputs			as of
Description	(Level 1)			(Level 2)		(Level 3)			December 31, 2017
SA U.S. Core Market Fund(a)
Common Stocks	$	753,713,755		$	—	$	—		$	753,713,755
Rights and Warrants		—			—		6,265	†		6,265	†
Mutual Funds		32,796,858			—		—			32,796,858
Short-Term Investments		5,878,162			—		—			5,878,162
Total Investments	$	792,388,775		$	—	$	6,265		$	792,395,040
SA U.S. Value Fund(a)
Common Stocks	$	621,083,492		$	—	$	—		$	621,083,492
Short-Term Investments		2,211,610			—		—			2,211,610
Total Investments	$	623,295,102		$	—	$	—		$	623,295,102
SA U.S. Small Company Fund(a)
Common Stocks	$	429,043,892		$	32,788	$	—	†	$	429,076,680	†
Rights and Warrants		—			—		414	†		414	†
Short-Term Investments		21,707,502			—		—			21,707,502
Total Investments	$	450,751,394		$	32,788	$	414		$	450,784,596
SA International Value Fund(a)
Common Stocks	$	770,371,824	†	$	—	$	—	†	$	770,371,824	†
Preferred Stocks		9,549,445			—		—			9,549,445
Rights and Warrants		144,104			—		—			144,104
Short-Term Investments		45,007,102			—		—			45,007,102
Total Investments	$	825,072,475		$	—	$	—		$	825,072,475
SA International Small Company Fund(a)
Mutual Funds	$	376,044,352		$	—	$	—		$	376,044,352
Total Investments	$	376,044,352		$	—	$	—		$	376,044,352
SA Emerging Markets Value Fund(b)
��Common Stocks	$	225,488,872		$	298,669	$	134,506	†	$	225,922,047	†
Preferred Stocks		4,093,657			—		—			4,093,657
Rights and Warrants		13,202			6,808		—			20,010
Short-Term Investments		4,782,733			—		—			4,782,733
Total Investments	$	234,378,464		$	305,477	$	134,506		$	234,818,447
SA Real Estate Securities Fund(a)
Common Stocks	$	175,917,380		$	—	$	—		$	175,917,380
Short-Term Investments		3,639,585			—		—			3,639,585
Total Investments	$	179,556,965		$	—	$	—		$	179,556,965

67

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2017 (Unaudited) (Continued)

	Investments in Securities
	Unadjusted Quoted
	Prices in Active				Significant
	Markets for Identical		Significant Other		Unobservable		Total Balance
	Investments		Observable Inputs		Inputs		as of
Description	(Level 1)		(Level 2)		(Level 3)		December 31, 2017
SA Worldwide Moderate Growth Fund(a)
Mutual Funds	$	30,387,017	$	—	$	—	$	30,387,017
Total Investments	$	30,387,017	$	—	$	—	$	30,387,017

^† Contains securities with a market value of zero.

^(a) For the period end December 31, 2017, there was no transfer activity between Level 1 and Level 2.

^(b) For the period ended December 31, 2017, common stocks valued at $260,335 were transferred from Level 1 to Level 2; common stocks valued at $175,200 were transferred from Level 2 to Level 1 and common stocks valued at $198,000 were transferred from Level 3 to Level 1.

Transfers between investment valuation levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. The Funds’ policy is to recognize transfers between the levels as of the end of the fiscal period.

The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. The table presents the fiscal year-to-date activity of Level 3 securities held at the beginning and the end of the fiscal period.

														Net Change
														in Unrealized
														Appreciation
						Total								(Depreciation)
	Beginning					realized and						Ending		on Investments
	Balance				Accrued	unrealized			Transfers	Transfers		Balance		Held at
	July 1,				discounts	gains			in to	out of		December 31,		December 31,
	2017		Purchases	Sales	(premiums)	(losses)*			Level 3	Level 3		2017		2017*
SA U.S. Core Market Fund
Rights and Warrants(1)	$	13,348	—	—	—		(7,083	)	—	—		$	6,265		(7,083	)
SA U.S. Small
Company Fund
Rights and Warrants(1)(2)		7,534	—	—	—		(7,120	)	—	—			414		(7,120	)
SA Emerging Markets
Value Fund
Common Stocks(1)(2)		261,486	—	—	—		71,020		—	(198,000	)		134,506		71,020

* All net realized and change in unrealized gains (losses) are reflected on the accompanying Statements of Operations.

⁽¹⁾ Level 3 at December 31, 2017 included securities with a fair value of $0.

⁽²⁾ Level 3 at July 1, 2017 included securities with fair value of $0.

68

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2017 (Unaudited) (Continued)

Securities Lending — The Funds may lend any of their securities held by State Street Bank and Trust Company (“State Street”) as custodian to certain qualified broker-dealers, banks and other institutions, except those securities which the Adviser specifically identifies as not being available. Any gain or loss in the market price of the securities loaned that might occur and any interest or dividends declared during the term of the loan would accrue to the account of the Funds. Risks of delay in recovery of the securities or even loss of rights in the collateral may occur should the borrower of the securities fail financially. Risks may also arise to the extent that the value of the collateral decreases below the value of the securities loaned.

Upon entering into a securities lending transaction, a fund maintains cash or other securities as collateral in an amount equal to or exceeding 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies or instrumentalities, a loan of sovereign debt issued by non-U.S. governments, or a loan of non-U.S. corporate debt, 102% of the current market value of the loaned securities with respect to other U.S. securities and 105% of the current market value of the loaned securities with respect to foreign equity securities. Any cash received as collateral is generally invested by State Street, acting in its capacity as securities lending agent (the “Agent”), in the State Street Navigator Securities Lending Government Money Market Portfolio, which is a money market fund registered under the 1940 Act. A portion of the income received on the collateral is rebated to the borrower of the securities, and the remainder is split between the Agent and the Fund.

As of December 31, 2017, the following Funds had securities on loan, which were collateralized by short-term investments. The value of securities on loan and the value of the related collateral were as follows:

							Total
							Collateral
					Value of		(Including
	Value of		Value of Cash		Non-Cash		Calculated
	Securities		Collateral		Collateral*		Mark)†
SA Global Fixed Income Fund	$	25,661,611	$	23,807,013	$	2,370,000	$	26,196,365
SA U.S Core Market Fund	$	16,782,196	$	4,802,814	$	12,514,910	$	17,187,561
SA U.S. Value Fund	$	8,789,264	$	1,771,656	$	7,282,562	$	8,993,990
SA U.S. Small Company Fund	$	49,467,273	$	21,246,569	$	29,963,376	$	50,753,765
SA International Value Fund	$	67,974,325	$	41,992,954	$	27,895,928	$	69,937,848
SA Emerging Markets Value Fund	$	5,096,764	$	4,223,683	$	1,191,470	$	5,436,291
SA Real Estate Securities Fund	$	4,228,566	$	2,540,031	$	1,826,934	$	4,346,204

* The Funds cannot repledge or resell this collateral. The non-cash collateral is comprised of U.S. government securities.

^† Balances represent the end-of-day fair market value of securities lending collateral that will be reflected by the Funds as of the next business day.

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The following table provides increased transparency about the types of collateral pledged for securities lending transactions that are accounted for as secured borrowing.

	Remaining Contractual Maturity of the Agreements
	As of December 31, 2016
	Overnight and				Between
Securities Lending Transaction(1)	Continuous		<30 days		30 & 90 days		>90 days		Total
SA Global Fixed Income Fund
Bonds and Notes	$	23,807,013	$	—	$	—	$	—	$	23,807,013
Total Borrowings	$	23,807,013	$	—	$	—	$	—	$	23,807,013
Gross amount of recognized liabilities for securities lending transactions									$	23,807,013
SA U.S. Core Market Fund
Common Stocks	$	4,802,814	$	—	$	—	$	—	$	4,802,814
Total Borrowings	$	4,802,814	$	—	$	—	$	—	$	4,802,814
Gross amount of recognized liabilities for securities lending transactions									$	4,802,814
SA U.S. Value Fund
Common Stocks	$	1,771,656	$	—	$	—	$	—	$	1,771,656
Total Borrowings	$	1,771,656	$	—	$	—	$	—	$	1,771,656
Gross amount of recognized liabilities for securities lending transactions									$	1,771,656
SA U.S. Small Company Fund
Common Stocks	$	21,246,569	$	—	$	—	$	—	$	21,246,569
Total Borrowings	$	21,246,569	$	—	$	—	$	—	$	21,246,569
Gross amount of recognized liabilities for securities lending transactions									$	21,246,569
SA International Value Fund
Common Stocks	$	41,992,954	$	—	$	—	$	—	$	41,992,954
Total Borrowings	$	41,992,954	$	—	$	—	$	—	$	41,992,954
Gross amount of recognized liabilities for securities lending transactions									$	41,992,954
SA Emerging Markets Value Fund
Common Stocks	$	4,223,683	$	—	$	—	$	—	$	4,223,683
Total Borrowings	$	4,223,683	$	—	$	—	$	—	$	4,223,683
Gross amount of recognized liabilities for securities lending transactions									$	4,223,683
SA Real Estate Securities Fund
Common Stocks	$	2,540,031	$	—	$	—	$	—	$	2,540,031
Total Borrowings	$	2,540,031	$	—	$	—	$	—	$	2,540,031
Gross amount of recognized liabilities for securities lending transactions									$	2,540,031

⁽¹⁾ Amounts represent the payable for cash collateral received on securities on loan. This will generally be in the “Overnight and Continuous” column as the securities are typically callable on demand. The payable will be allocated into categories of securities based on the market value of the securities on loan.

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Foreign Currency Translation and Foreign Investments — The books and records of the Funds are maintained in U.S. dollars. The value of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars based upon foreign currency exchange rates prevailing at the end of the period. Purchases and sales of investment securities are translated at contractual currency exchange rates established at the time of the trade. Income and expenses are translated at prevailing exchange rates on the respective dates of such transactions.

The results of operations resulting from changes in foreign exchange rates on investments are not reported separately from fluctuations arising from changes in market prices of securities held. All such fluctuations are included with net realized and unrealized gain or loss on investments.

Investing in foreign securities may involve certain sovereign and other risks, in addition to the credit and market risks normally associated with domestic securities. Investments in foreign securities are subject to fluctuations in currency exchange rates, which may negatively affect the value of a Fund’s portfolio. Additional risks may include exposure to less developed or less efficient trading markets; social, political or economic instability; nationalization of assets, currency controls or redenomination; changes in tax policy; high transaction costs; settlement, custodial or other operation risks; and less stringent accounting, auditing, financial reporting, and legal standards and practices. As a result, foreign securities can fluctuate more widely in price, and may also be less liquid, than comparable U.S. securities.

Forward Foreign Currency Exchange Contracts — Each Fund that may invest in foreign securities may enter into forward foreign currency exchange contracts. A forward foreign currency exchange contract is an agreement between two parties to buy or sell currency at a set price on a future date. By entering into a forward contract for the purchase or sale for a fixed amount of dollars of the amount of foreign currency involved in an underlying security transaction, a fund may be able to protect itself against a possible loss resulting from an adverse change in the relationship between the U.S. dollar and the applicable foreign currency during the period between the date the security is purchased or sold and the date on which payment is made or received.

The market value of a contract will fluctuate with changes in currency exchange rates. The contract is marked-to-market daily using the 4:00 PM Eastern Time pricing for the forward currency exchange rate, and the change in market value is recorded as unrealized appreciation (depreciation) on foreign currency and forward currency transactions in a fund’s statement of assets and liabilities. When the contract is closed, a realized gain or loss is recognized, which is equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, and recorded as realized gain (loss) on foreign currency and forward currency transactions in a fund’s statement of operations.

Forward foreign currency exchange contracts may involve risks from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar.

The Funds have adopted provisions surrounding disclosures regarding derivative instruments and hedging activities which require qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about currency risk-related contingent features in derivative agreements.

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In order to better define its contractual rights and to secure rights that will help the SA Global Fixed Income Fund mitigate its counterparty risk, the SA Global Fixed Income Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between the SA Global Fixed Income Fund and a counterparty that governs OTC derivatives and foreign exchange contracts and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, the SA Global Fixed Income Fund may, under certain circumstances, offset with the counterparty certain derivative financial instrument’s payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default (close-out netting) including the bankruptcy or insolvency of the counterparty. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events.

For financial reporting purposes, the SA Global Fixed Income Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in its Statement of Assets and Liabilities.

The following tables, grouped into appropriate risk categories, discloses the amounts related to the Fund’s use of derivative instruments and hedging activities at December 31, 2017, on a gross basis:

			Gain or (Loss) on Derivatives
			Recognized in Income
	Asset Derivative	Liability Derivative		Change in
Risk Type	Fair Value(1)	Fair Value(2)	Realized Gain(3)	Depreciation(4)
Foreign currency	$835,294	$2,350,931	$(505,664)	$(597,161)

⁽¹⁾ Statement of Assets and Liabilities location: Unrealized appreciation on forward foreign currency exchange contracts.

⁽²⁾ Statement of Assets and Liabilities location: Unrealized depreciation on forward foreign currency exchange contracts.

⁽³⁾ Statement of Operations location: Realized gain (loss) on: Forward currency transactions.

⁽⁴⁾ Statement of Operations location: Increase (decrease) in unrealized appreciation (depreciation) on: Forward currency translations.

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Forward Currency Contracts Assets and Collateral Held by Counterparty as of December 31, 2017:

	Gross Amount of	Financial
	Assets Presented in	Instruments
	Statements of	Available for	Collateral
Counterparty	Assets & Liabilities	Offset	Received	Net Amount
Citibank N.A London	$835,294	$(273,965)	—	561,329

Forward Currency Contracts Liabilities and Collateral Pledged as of December 31, 2017:

	Gross Amount of			Financial
	Liabilities Presented			Instruments
	in Statements of			Available for				Collateral
Counterparty	Assets & Liabilities			Offset				Pledged	Net Amount
Bank of America NA		$	1,095,107			—		—	$	1,095,107
Citibank N.A London			273,965		$	(273,965	)	—		—
HSBC Bank USA			40,433			—		—		40,433
State Street Bank and Trust Co.			941,426			—		—		941,426

For the six months ended December 31, 2017, the average monthly principal amount of forward foreign currency exchange contracts sold was $70,636,258.

Investment Transactions, Income and Expenses — Investments in securities are accounted for as of trade date (the date the buy or sell is executed). Dividend income is recorded on the ex-dividend date. Interest income is recorded on an accrual basis and includes amortization of discounts and premiums based on the effective interest method. Gains and losses are determined on the identified cost basis, which is the same for U.S. federal income tax purposes.

The Funds characterize distributions received from mutual fund investments on the Statements of Operations using the same characterization as the distribution received.

Expenses directly attributable to a specific fund are charged to the respective fund. Expenses that cannot be attributed to a particular fund are apportioned among the Funds evenly or based on relative net assets.

Indemnifications — Under the Trust’s organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. The Trustees are also indemnified against certain liabilities pursuant to an Indemnity Agreement between the Trust and each Trustee. In addition, in the normal course of business the Trust enters into contracts that contain a variety of representations and warranties which provide general indemnifications. The Funds’ maximum exposures under these arrangements are unknown as this would involve potential future claims against the Funds that have not yet occurred. However, the Funds expect the risk of loss to be remote.

Foreign Taxes — Each Fund may be subject to foreign taxes (a portion of which may be reclaimable) on income, corporate events, or capital gains on investments or currency repatriation. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign markets in which the Fund invests. These foreign taxes, if any, are paid by each Fund and are disclosed in its Statement of Operations. Foreign taxes payable as of December 31, 2017, if any, are reflected in each Fund’s Statement of Assets and Liabilities.

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Federal Income Tax — Each Fund is treated as a separate entity for U.S. federal income tax purposes. Each Fund’s policy is to comply with the requirements of Subchapter M of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of the Funds’ taxable income and net capital gain to their shareholders. Therefore, no income tax provision is required.

Each Fund recognizes the tax benefits of uncertain tax positions only when the position is “more likely than not” to be sustained upon examination by the tax authorities based on the technical merits of the tax position. As of June 30, 2017, and for all open tax year, each Fund has determined that no liability for unrecognized tax benefits is required in each Fund’s financial statements related to uncertain tax positions taken on a tax return (or expected to be taken on future tax returns). Open tax years are those that remain subject to examination and are based on each tax jurisdiction’s statute of limitation.

The Trust management has analyzed the Funds’ tax positions, and has concluded that no liability for unrecognized tax benefits should be recorded with respect to uncertain tax positions taken on returns filed for open tax years (2015- 2017), or expected to be taken in the Funds’ 2018 tax returns.

As of June 30, 2017, for U.S. federal income tax purposes, the SA International Value Fund had a realized capital loss carryforward available to offset future net realized capital gains in the amount of $25,307,892 expiring on June 30, 2018.

As of June 30, 2017, for U.S. federal income tax purposes, the SA U.S. Fixed Income Fund had an amount of $523,508 in unlimited short-term losses and the SA Emerging Markets Value Fund and SA International Value Fund had an amount of $8,314,228 and $10,114,767 in unlimited long-term losses, respectively, available to offset future net realized gains.

Distributions to Shareholders — Each Fund, excluding the SA Global Fixed Income Fund and the SA U.S. Fixed Income Fund, declares and pays dividends from its net investment income, if any, annually. The SA Global Fixed Income Fund and the SA U.S. Fixed Income Fund declare and pay dividends from net investment income, if any, quarterly. All of the Funds declare and pay distributions from net realized capital gains, if any, at least annually.

The SA Real Estate Securities Fund characterizes distributions received from REIT investments based on information provided by the REITs into the following categories: ordinary income, long-term capital gains, and return of capital. If information is not available on a timely basis from the REITs in which the Fund invests, the characterization will be estimated based on available information, which may include the previous year’s allocation. If new or additional information becomes available from one or more of those REITs at a later date, a recharacterization will be made in the following year. The Fund records any amount recharacterized as dividend income as ordinary income, any amount recharacterized as long-term capital gain as realized gain in the Statement of Operations, and any amount recharacterized as a return of capital as a reduction to the cost of investments in the Statement of Assets and Liabilities and in the Portfolio of Investments. These recharacterizations are reflected in the accompanying financial statements.

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Dividends to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from generally accepted accounting principles in the U.S. These differences are primarily due to differing treatments of income and gains on various investment securities held by the Funds, timing differences and differing characterizations of distributions made by the Funds. To the extent that distributions exceed the sum of net investment income and net capital gains for federal income tax purposes, they are reported as distributions of paid-in capital. Permanent book and tax basis differences relating to shareholder distributions will result in reclassifications to paid-in capital. Undistributed net investment income and undistributed accumulated net realized gain (loss) on investments and foreign currency transactions may include temporary book and tax differences such as wash sales, passive foreign investment companies, non-REIT return of capital, and foreign currency transactions that will reverse in a subsequent period. During any particular year, a fund’s net realized gains from investment transactions in excess of available capital loss carry forwards will be taxable to a fund if not distributed and, therefore, will be distributed to shareholders annually.

2. Agreements and Transactions with Affiliates

The Trust has an Investment Advisory and Administrative Services Agreement with the Adviser (the “Investment Advisory Agreement”) under which the Adviser manages the investments of, and provides administrative services to, each Fund. The Adviser is an indirect, wholly-owned subsidiary of Loring Ward Holdings, Inc., a U.S. company based in San Jose, California. Loring Ward Holdings, Inc. is controlled by Mr. Eli Reinhard through his sole ownership interest in Arcadia Loring Ward, LLC and Mr. Reinhard’s role as the sole trustee of ten trusts administered for the benefit of Mr. Reinhard’s family, each of which has an ownership interest in Loring Ward Holdings, Inc. For the advisory services provided to the Funds, the Adviser is entitled to a fee from each Fund computed daily and payable monthly at an annual rate based on each Fund’s average daily net assets as follows:

	Advisory Fees
SA U.S. Fixed Income Fund		0.15%
SA Global Fixed Income Fund		0.25%
SA U.S. Core Market Fund		0.45%
SA U.S. Value Fund		0.45%
SA U.S. Small Company Fund		0.45%
SA International Value Fund		0.50%
SA International Small Company Fund		0.50%
SA Emerging Markets Value Fund		0.50%
SA Real Estate Securities Fund		0.35%
SA Worldwide Moderate Growth Fund		0.00%	*

* The management fee for the SA Worldwide Moderate Growth Fund has two components. There is no management fee on assets invested in the Underlying SA Funds, any other investment companies advised or sub-advised by the Adviser, money market funds or held in cash or cash equivalents. The Fund is subject to a management fee of 0.25% on assets invested in any other investments. The Fund does not currently intend to make investments that would be subject to a management fee.

For the administrative services provided to the Funds, the Adviser is entitled to a fee from each Fund, except the SA Worldwide Moderate Growth Fund, computed daily and payable monthly at the annual rate of 0.10% of the average daily net assets of each Fund.

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The Trust and the Adviser have jointly entered into an Investment Sub-Advisory Agreement (the “Sub-Advisory Agreement”) with the Sub-Adviser. For the sub-advisory services provided to the Funds, except the SA Worldwide Moderate Growth Fund, the Sub-Adviser is entitled to a fee from each Fund computed daily and payable monthly at an annual rate based on each Fund’s average daily net assets. The SA International Small Company Fund will not pay a fee to the Sub-Adviser for its sub-advisory services for as long as it invests substantially all of its assets in the DFA Portfolio. However, the Sub-Adviser receives an administration fee from the DFA Portfolio and also receives advisory fees for providing advisory services to the Series in which the DFA Portfolio invests.

	Sub-Advisory
	Fees
SA U.S. Fixed Income Fund		0.05%
SA Global Fixed Income Fund		0.05%
SA U.S. Core Market Fund	0.0462%		*
SA U.S. Value Fund		0.10%
SA U.S. Small Company Fund		0.35%
SA International Value Fund		0.20%
SA Emerging Markets Value Fund		0.50%
SA Real Estate Securities Fund		0.15%

* The Sub-Adviser will not receive any sub-advisory fee for its sub-advisory services to the SA U.S. Core Market Fund with respect to any assets of the SA U.S. Core Market Fund invested in the U.S. Micro Cap Portfolio of the DFA Investment Dimensions Group Inc. For its management services, the Sub-Adviser receives an investment advisory fee from the U.S. Micro Cap Portfolio.

The Trust has a Shareholder Servicing Agreement with the Adviser. For the shareholder services provided to the Funds, the Adviser is entitled to a fee from each Fund computed daily and payable monthly at the annual rate of 0.25% and 0.05% of the average daily net assets of each Fund’s Investor Class and Select Class shares, respectively. There is no shareholder servicing fee on assets of the SA Worldwide Moderate Growth Fund that are invested in the Underlying SA Funds, any other investment companies advised or sub-advised by the Adviser, money market funds or held in cash or cash equivalents. The SA Worldwide Moderate Growth Fund is subject to a shareholder servicing fee of 0.25% on assets invested in any other investment. The SA Worldwide Moderate Growth Fund does not currently intend to make investments that would be subject to a shareholder servicing fee.

The Adviser has contractually agreed to waive its advisory fees and/or to reimburse expenses to the extent that: (1) each Fund’s Investor Class shares’ total annual operating expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses) exceed, in the aggregate, the rate per annum shown in the table below; (2) each Fund’s Select Class shares’ total annual operating expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses) are 0.20% lower than the Investor Class shares’ total annual operating expenses after fee waiver and/or expense reimbursement and will not exceed, in the aggregate, the rate per annum shown in the table below. This agreement will remain in effect until October 28, 2021, at which time the agreement may be continued, modified or eliminated and net expenses will be adjusted as necessary. In addition, the Adviser has contractually agreed to waive fees and/or reimburse expenses so that the SA Worldwide Moderate Growth Fund’s total annual operating expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) do not exceed the total annual acquired fund fees and expenses related to the Fund’s investments

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in the Underlying SA Funds, any other investment companies advised or sub-advised by the Adviser, or any money market fund. This agreement will remain in effect until July 1, 2025, at which time the agreement may be continued, modified or eliminated and net expenses will be adjusted as necessary. These agreements may only be amended or terminated during their terms with the approval of the Board.

	Expense Limitation
	Investor	Select
	Class	Class*
SA U.S. Fixed Income Fund	0.65%	0.45%
SA Global Fixed Income Fund	0.80%	0.60%
SA U.S. Core Market Fund	1.00%	0.80%
SA U.S. Value Fund	1.05%	0.85%
SA U.S. Small Company Fund	1.20%	1.00%
SA International Value Fund	1.20%	1.00%
SA International Small Company Fund	1.10%	0.90%
SA Emerging Markets Value Fund	1.40%	1.20%
SA Real Estate Securities Fund	1.00%	0.80%

*      Select Class commenced operations on July 3, 2017

For the six months ended December 31, 2017, the Adviser may elect to recapture any amounts waived or reimbursed pursuant to the above agreement, subject to the following conditions: (1) the Adviser must request reimbursement within three years from the end of the year in which the waiver/reimbursement is made, (2) the Board must approve the reimbursement, (3) reimbursement will be permitted if, and to the extent that, the relevant Fund does not exceed its operating expense limitation after giving effect to the reimbursement, and (4) the Adviser may not request or receive reimbursements for the reductions and waivers before payment of the relevant Fund’s operating expenses for the current fiscal year. During the six months ended December 31, 2017, the Adviser recaptured $44,132 from SA U.S. Fixed Income Fund pursuant to these conditions.

Trustees’ Fees and Expenses — For their services as Trustees, the Trustees of the Trust received an annual retainer fee of $90,000, as well as reimbursement for expenses incurred in connection with each meeting of the Board and its Committees. The Chairman of the Board received an additional $9,000 per year.

Sub-Administration Fees — State Street serves as sub-administrator for the Trust, pursuant to a Sub-Administration Agreement with the Trust and the Adviser. State Street receives a fee that is calculated daily and paid monthly at an annual rate based on the aggregate average daily net assets of the Trust as follows: 0.02% of the first $1.5 billion of net assets and 0.0175% of net assets over $1.5 billion. The fee is then allocated to each Fund based on the relative net assets of each Fund, subject to a minimum fee of $70,000 annually per Fund, except for the SA International Small Company Fund and the SA Worldwide Moderate Growth Fund, which are subject to a minimum fee of $50,000 annually per Fund. Fees are calculated for the fund complex and then allocated to the Funds based upon each Fund’s total net assets, which may cause a fund to pay less than the minimum annual charge.

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3. Purchases and Sales of Securities

Excluding short-term investments, each Fund’s purchases and sales of securities for the six months ended December 31, 2017 were as follows:

	Purchases				Sales
	U.S. Government		Other		U.S. Government		Other
SA U.S. Fixed Income Fund	$	177,895,385	$	98,253,706	$	129,354,713	$	140,359,926
SA Global Fixed Income Fund		0		186,380,836		2,966,210		178,328,256
SA U.S. Core Market Fund		0		27,627,988		0		50,576,364
SA U.S. Value Fund		0		61,780,549		0		74,574,560
SA U.S. Small Company Fund		0		34,644,306		0		42,673,206
SA International Value Fund		0		65,643,064		0		89,087,399
SA International Small Company Fund		N/A		N/A		N/A		N/A
SA Emerging Markets Value Fund		0		21,655,409		0		21,305,612
SA Real Estate Securities Fund		0		11,677,621		0		8,301,302
SA Worldwide Moderate Growth Fund		0		7,122,115		0		5,705,096

N/A — The SA International Small Company Fund invests substantially all of its assets in the DFA Portfolio. Please refer to the financial statements of the DFA Portfolio which are included elsewhere in this report.

4. Capital Shares and Affiliated Ownership

The SA Worldwide Moderate Growth Fund invests in Underlying Securities and other Investment Companies, certain of which may be deemed to be under common control because of the same or affiliated investment adviser and membership in a common family of investment companies (the “Affiliated Underlying Funds”). A summary of the transactions with each Affiliated Underlying Fund during the six months ended December 31, 2017 follows:

									Net Realized											Dividend
									Gain (Loss)											Income			Capital Gain
									on Sales of				Change in				Ending			from			Distributions
	Beginning								Affiliated				Unrealized				Value as of		Shares as of	Affiliated			from Affiliated
	Value as of		Purchases at			Proceeds			Investment				Appreciation/				December 31,		December 31,	Investment			Investment
Affiliated Investment Companies	June 30, 2017		Cost			from Sales			Companies				Depreciation				2017		2017	Companies			Companies
SA Emerging Markets Value Fund	$	2,739,719		$	604,533	$	(630,280	)		$	127,395			$	215,166		$	3,056,533	285,657		$	38,675		$	—
SA Global Fixed Income Fund		3,553,104			1,060,819		(650,643	)			(8,929	)			(5,522	)		3,948,829	411,336			15,627			1,792
SA International Value Fund		5,237,285			1,020,036		(1,109,842	)			214,093				411,386			5,772,958	462,948			137,909			—
SA Real Estate Securities Fund		1,361,451			454,577		(296,269	)			(7,792	)			6,982			1,518,949	133,946			18,225			23,990
SA U.S. Core Market Fund		4,927,527			1,098,163		(1,003,596	)			165,373				276,329			5,463,796	233,595			47,241			162,647
SA U.S. Fixed Income Fund		3,283,757			985,668		(605,370	)			(3,258	)			(15,314	)		3,645,483	359,870			17,708			—
SA U.S. Small Company Fund		2,470,640			783,274		(589,770	)			93,362				(26,422	)		2,731,084	104,559			4,946			192,652
SA U.S. Value Fund		3,840,171			1,115,045		(819,326	)			145,514				(32,019	)		4,249,385	226,152			48,126			345,257
Totals	$	27,413,654		$	7,122,115	$	(5,705,096)			$	725,758			$	830,586		$	30,387,017			$	328,457		$	726,338

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5. Recent Accounting Pronouncements

In October 2016, the U.S. Securities and Exchange Commission (“SEC”) adopted new rules and forms, and amendments to certain current rules and forms, to modernize reporting and disclosure of information by registered investment companies. The amendments to Regulation S-X require standardized, enhanced disclosure about derivatives in investment company financial statements, and also change the rules governing the form and content of such financial statements. The amendments to Regulation S-X took effect on August 1, 2017 and the financial statements have been modified accordingly, as applicable.

6. Subsequent Events

Effective January 1, 2018, the Board of Trustees of the Trust approved lower advisory fee and subadvisory fee levels and amendments to the fee waiver and/or expense reimbursement for certain Funds of the Trust. As a result of these changes, the Fees and Expenses section for the SA U.S. Fixed Income Fund, SA Global Fixed Income Fund, SA U.S. Core Market Fund, SA U.S. Value Fund, SA U.S. Small Company Fund, SA International Value Fund, SA International Small Company Fund, SA Emerging Markets Value Fund, SA Real Estate Securities Fund and SA Worldwide Moderate Growth Fund found in the Prospectuses dated October 29, 2017, have been amended and are replaced in their entirety.

Effective January 1, 2018, the Adviser will no longer seek to recapture any amounts waived or reimbursed under the fee waiver and/or expense reimbursement arrangements in place.

Effective January 1, 2018, purchases by the SA Worldwide Moderate Growth Fund in underlying SA Funds will receive Select Class shares. Existing Investor Class shares of SA Funds held by the Fund were converted (via an inter-class tax free exchange) into Select Class shares on the first business day of 2018.

Effective January 1, 2018, the annual compensation of each Trustee increased from $90,000 to $96,000. In addition, the Chairman of the Board’s annual supplemental compensation was increased from $9,000 to $9,600. The Trustees approved these increases at the Board meeting on December 4, 2017.

79

SA FUNDS

ADDITIONAL INFORMATION (Unaudited)

Proxy Voting Policies and Procedures

The Sub-Adviser is responsible for exercising the voting rights associated with the securities purchased and/or held by the Funds. A description of the policies and procedures that are used by the Sub-Adviser to vote proxies relating to the Funds’ portfolio securities is available without charge, upon request, by calling (844) 366-0905 and on the Securities and Exchange Commission’s website (“SEC”) at http://www.sec.gov. Information regarding how the Sub-Adviser voted these proxies during the most recent 12-month period ended June 30th is listed in the Trust’s Form N-PX, which is available after August 31st without charge, upon request, by calling the same number or visiting the SEC’s website at http://www.sec.gov.

Quarterly Portfolio Schedule

The Trust files a complete schedule of portfolio holdings for each Fund for the first and third quarters of each fiscal year on Form N-Q. The Trust’s Forms N-Q are available on the SEC’s website at http://www.sec.gov or may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The Trust’s most recent Form N-Q is also available without charge, upon request, by calling (844) 366-0905.

Semi-Annual Portfolio Schedule

The Trust files a complete schedule of portfolio holdings for each Fund for the second quarter of each fiscal year on Form N-CSR. The Trust’s Form N-CSR is available on the SEC’s website at http://www.sec.gov or may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The Trust’s most recent Form N-CSR is also available without charge, upon request, by calling (844) 366-0905.

Additional Information

Member of FINRA/SIPC, this report is prepared for the general information of shareholders and is not an offer of shares of the SA Funds. Shares are sold only through the currently effective prospectus, which must precede or accompany this report.

More information about the SA Funds is available without charge, upon request, please mail, visit the Funds’ website or call:

SA Funds – Investment Trust
c/o LWI Financial Inc.
10 Almaden Blvd.
15^th Floor
San Jose, California 95113

Toll-free: 1-844-366-0905
Website: http://www.sa-funds.com

80

SA FUNDS

ADDITIONAL INFORMATION (Unaudited) (Continued)

Understanding Your Fund’s Expense
Shareholder Expense Example

As a mutual fund shareholder you incur ongoing costs including management fees, shareholder services fees, fees for administrative services and other Fund expenses. These costs are described in more detail in the Funds’ prospectus. The examples below are intended to help you understand your ongoing costs of investing in the Funds and help you compare these with the ongoing costs of investing in other mutual funds. The following examples are based on an investment of $1,000 made at the beginning of the period, July 1, 2017 through December 31, 2017. Expenses paid during the period in the table below are equal to the annualized net expense ratio of the Funds’ each class of shares, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year (to reflect the one-half-year period). Such expenses are limited by an agreement between the Fund and the Adviser and may be recovered by the Adviser under certain circumstances. You can find additional information about the Fund’s expenses, including the expense limitation agreement, in the Notes to Financial Statements section of this report and in the Fund’s current prospectus.

Actual Expenses

The table below shows the actual account values and actual Fund expenses, based on the actual performance of the Funds’ each class of shares during the period. You may use the information in this line, together with the amount you invested, to estimate the expenses you paid over the period. Simply divide your account value by $1,000 (for example $8,600 account value divided by $1,000 = 8.6) then multiply the result by the number in the first line of the table for your Fund under the heading “Expenses Paid During Period” to estimate the expenses you paid over the period.

	Actual Expenses
	Investor Class										Select Class
	Beginning			Ending		Annual			Expenses		Beginning			Ending			Annual			Expenses
	Account			Account		Expense			Paid During		Account			Account			Expense			Paid During
	Value			Value		Ratio			Period		Value			Value			Ratio			Period
SA U.S. Fixed Income Fund		$	1,000	$	1,000.10		0.65	%		$3.28		$	1,000		$	1,001.20		0.43	%		$2.13
SA Global Fixed Income Fund			1,000		1,001.40		0.73			3.68			1,000			1,002.50		0.53			2.63
SA U.S. Core Market Fund			1,000		1,121.20		0.93			4.97			1,000			1,120.10		0.73			3.84
SA U.S. Value Fund			1,000		1,119.80		0.99			5.29			1,000			1,114.60		0.79			4.14
SA U.S. Small Company Fund			1,000		1,094.00		1.20			6.33			1,000			1,087.20		1.00			5.18
SA International Value Fund			1,000		1,141.00		1.14			6.15			1,000			1,134.30		0.94			4.97
SA International Small Company Fund			1,000		1,106.20		0.96			5.10			1,000			1,118.70		0.76			3.99
SA Emerging Markets Value Fund			1,000		1,133.90		1.40			7.53			1,000			1,129.90		1.20			6.34
SA Real Estate Securities Fund			1,000		1,026.00		1.00			5.11			1,000			1,014.10		0.80			4.00

	Actual Expenses
	Beginning	Ending	Annual	Expenses
	Account	Account	Expense	Paid During
	Value	Value	Ratio	Period
SA Worldwide Moderate Growth Fund	$1,000	$1,087.80	0.00%	$0.00

81

SA FUNDS

ADDITIONAL INFORMATION (Unaudited) (Continued)

Hypothetical Example for Comparison Purposes

The table below provides information about hypothetical account values and hypothetical expenses based on actual expense ratio of the Funds’ each class of shares and an assumed rate of return of 5% per year before expenses, which is not actual return of the Funds’ each class of shares. Thus, you should not use the hypothetical account values and expenses to estimate the actual ending account balance or your expenses for the period. Rather, these figures are provided to enable you to compare the ongoing costs of investing in the Fund versus other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

	Hypothetical Expenses
	Investor Class											Select Class
	Beginning Account Value			Ending Account Value			Annual Expense Ratio			Expenses Paid During Period		Beginning Account Value			Ending Account Value			Annual Expense Ratio			Expenses Paid During Period
SA U.S. Fixed Income Fund		$	1,000		$	1,021.93		0.65	%		$3.31		$	1,000		$	1,022.66		0.43	%		$2.16
SA Global Fixed Income Fund			1,000			1,021.53		0.73			3.72			1,000			1,022.17		0.53			2.66
SA U.S. Core Market Fund			1,000			1,020.52		0.93			4.74			1,000			1,021.17		0.73			3.66
SA U.S. Value Fund			1,000			1,020.21		0.99			5.04			1,000			1,020.88		0.79			3.96
SA U.S. Small Company Fund			1,000			1,019.16		1.20			6.11			1,000			1,019.84		1.00			5.01
SA International Value Fund			1,000			1,019.46		1.14			5.80			1,000			1,020.13		0.94			4.71
SA International Small Company Fund			1,000			1,020.37		0.96			4.89			1,000			1,021.03		0.76			3.81
SA Emerging Markets Value Fund			1,000			1,018.15		1.40			7.12			1,000			1,018.84		1.20			6.01
SA Real Estate Securities Fund			1,000			1,020.16		1.00			5.09			1,000			1,020.83		0.80			4.01

	Hypothetical Expenses
	Beginning	Ending	Annual	Expenses
	Account	Account	Expense	Paid During
	Value	Value	Ratio	Period
SA Worldwide Moderate Growth Fund	$1,000	$1,020.21	0.00%	$0.00

Please note that the expenses shown in the tables are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of investing in different funds. In addition, if these transaction costs were included, your costs would have been higher.

82

Selected Financial Statements of DFA Investment Dimensions Group Inc.

International Small Company Portfolio

TABLE OF CONTENTS

	Page
Definitions of Abbreviations and Footnotes	84
Disclosure of Fund Expenses — October 31, 2017 (Unaudited)	85
Disclosure of Portfolio Holdings — October 31, 2017 (Unaudited)	86
Schedule of Investments — December 31, 2017 (Unaudited)	87
Schedule of Investments — October 31, 2017	88
Statement of Assets and Liabilities — December 31, 2017 (Unaudited)	89
Statement of Assets and Liabilities — October 31, 2017	90
Statement of Operations — October 31, 2017	91
Statement of Changes in Net Assets	92
Financial Highlights	93
Notes to Financial Statements — October 31, 2017	94
Report of Independent Registered Public Accounting Firm	101

83

DFA INVESTMENT DIMENSIONS GROUP INC.

THE DFA INVESTMENT TRUST COMPANY

DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES

Schedules of Investments/Summary Schedules of Portfolio Holdings

Investment Abbreviations
	ADR	American Depositary Receipt
	P.L.C.	Public Limited Company
Investment Footnotes
	†	See Note B to Financial Statements.
	††	Securities that have generally been fair value factored. See Note B to Financial Statements.
	*	Non-Income Producing Securities.
	#	Total or Partial Securities on Loan.
	@	Security purchased with cash proceeds from Securities on Loan.
	§	Affiliated Fund.
Financial Highlights
	(A)	Computed using average shares outstanding.
	(B)	Represents the combined ratios for the respective portfolio and its respective pro-rata share of its Master Fund(s).
All Statements, Schedules and Notes to Financial Statements
	—	Amounts designated as — are either zero or rounded to zero.
	SEC	Securities and Exchange Commission

84

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

DISCLOSURE OF FUND EXPENSES
(Unaudited)

The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund’s gross income, directly reduce the investment return of the fund. A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The Expense Tables below illustrate your fund’s costs in two ways.

Actual Fund Return

This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The “Ending Account Value” shown is derived from the fund’s actual return and “Expenses Paid During Period” reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading “Expenses Paid During Period.”

Hypothetical Example for Comparison Purposes

This section is intended to help you compare your fund’s costs with those of other mutual funds. The hypothetical “Ending Account Value” and “Expenses Paid During Period” are derived from the fund’s actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund’s actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The “Annualized Expense Ratio” represents the actual expenses for the six-month period indicated.

Six Months Ended October 31, 2017

EXPENSE TABLES

	Beginning		Ending				Expenses
	Account		Account		Annualized		Paid
	Value		Value		Expense		During
	05/01/17		10/31/17		Ratio*		Period*
International Small Company Portfolio***
Actual Fund Return
Institutional Class Shares	$	1,000.00	$	1,123.90	0.53	%	$	2.84
Hypothetical 5% Annual Return
Institutional Class Shares	$	1,000.00	$	1,022.53	0.53	%	$	2.70

____________________

***        The Portfolio is a Fund of Funds. The expenses shown reflect the direct expenses of the Fund of Funds and the Fund of Funds’ portion of the expenses of its Master and/or Underlying Funds (Affiliated Investment Companies).

85

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

DISCLOSURE OF PORTFOLIO HOLDINGS
(Unaudited)

The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 29, 2017. They are available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC’s website at http://www.sec.gov, or they may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room).

SEC regulations permit a fund to include in its reports to shareholders a “Summary Schedule of Portfolio Holdings” in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund’s 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund’s net assets at the end of the reporting period. The regulations also require that the Summary Schedule of Portfolio Holdings identify each category of investments that are held.

A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC’s website at http://www.sec.gov, or they may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room).

PORTFOLIO HOLDINGS

The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications.

The categories of industry classification for the Affiliated Investment Companies are represented in their Disclosures of Portfolio Holdings, which are included elsewhere within the report. Refer to the Schedule of Investments/Summary Schedule of Portfolio Holdings for each of the underlying Affiliated Investment Company’s holdings, which reflect the investments by category or country.

FUND OF FUNDS	Affiliated Investment Companies
International Small Company Portfolio	100.0%

86

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2017
(Unaudited)

	Value†
AFFILIATED INVESTMENT COMPANIES — (100.0%)
Investment in The Continental Small Company Series
of The DFA Investment Trust Company	$	5,243,705,918
Investment in The Japanese Small Company Series
of The DFA Investment Trust Company		3,479,656,621
Investment in The United Kingdom Small Company Series
of The DFA Investment Trust Company		2,322,518,196
Investment in The Asia Pacific Small Company Series
of The DFA Investment Trust Company		1,573,138,323
Investment in The Canadian Small Company Series
of The DFA Investment Trust Company		1,203,672,086
TOTAL INVESTMENTS IN AFFILIATED
INVESTMENT COMPANIES (Cost $10,561,857,593)		13,822,691,144
TOTAL INVESTMENTS — (100.0%) (Cost $10,561,857,593)^	$	13,822,691,144

____________________

^         The cost for federal income tax purposes is $10,748,469,230.

At December 31, 2017, International Small Company Portfolio had entered into the following outstanding futures contracts:

							Unrealized
	Number of	Expiration	Notional		Market		Appreciation
Description	Contracts	Date	Value		Value		(Depreciation)
Long Position contracts:
S&P 500 Emini Index®	867	03/16/18	$	115,800,852	$	116,004,600	$	203,748
Total futures contracts			$	115,800,852	$	116,004,600	$	203,748

Summary of the Portfolio’s investments as of December 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investment in Securities (Market Value)
	Level 1		Level 2	Level 3	Total
Affiliated Investment Companies	$	13,822,691,144	—	—	$	13,822,691,144
Futures Contracts**		203,748	—	—		203,748
TOTAL	$	13,822,894,892	—	—	$	13,822,894,892

____________________

**        Valued at the unrealized appreciation/(depreciation) on the investment.

87

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

SCHEDULE OF INVESTMENTS

October 31, 2017

	Value†
AFFILIATED INVESTMENT COMPANIES — (100.0%)
Investment in The Continental Small Company Series
of The DFA Investment Trust Company	$	5,118,702,845
Investment in The Japanese Small Company Series
of The DFA Investment Trust Company		3,339,426,830
Investment in The United Kingdom Small Company Series
of The DFA Investment Trust Company		2,246,700,930
Investment in The Asia Pacific Small Company Series
of The DFA Investment Trust Company		1,482,853,393
Investment in The Canadian Small Company Series
of The DFA Investment Trust Company		1,162,055,496
TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES	$	13,349,739,494

At October 31, 2017, International Small Company Portfolio had entered into the following outstanding futures contracts:

							Unrealized
	Number of	Expiration	Notional		Market		Appreciation
Description	Contracts	Date	Value		Value		(Depreciation)
Long Position contracts:
S&P 500 Emini Index®	885	12/15/17	$	110,931,628	$	113,841,975	$	2,910,347
Total futures contracts			$	110,931,628	$	113,841,975	$	2,910,347

Summary of the Portfolio’s investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in Securities (Market Value)
	Level 1		Level 2	Level 3	Total
Affiliated Investment Companies	$	13,349,739,494	—	—	$	13,349,739,494
Futures Contracts**		2,910,347	—	—		2,910,347
TOTAL	$	13,352,649,841	—	—	$	13,352,649,841

____________________

**        Valued at the unrealized appreciation/(depreciation) on the investment.

88

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2017
(Unaudited)
(Amounts in thousands, except share and per share amounts)

ASSETS:
Investments in Affiliated Investment Companies at Value	$	13,822,691
Segregated Cash for Futures Contracts		3,902
Cash		144,605
Receivables:
Fund Shares Sold		9,899
Prepaid Expenses and Other Assets		53
Total Assets		13,981,150
LIABILITIES:
Payables:
Fund Shares Redeemed		8,819
Due to Advisor		4,643
Futures Margin Variation		420
Accrued Expenses and Other Liabilities		663
Total Liabilities		14,545
NET ASSETS	$	13,966,605
NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE:
Institutional Class Shares — based on net assets of $13,966,605 and
shares outstanding of 656,606,868	$	21.27
NUMBER OF SHARES AUTHORIZED		3,000,000,000
NET ASSETS CONSIST OF:
Paid-In Capital	$	10,822,470
Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)		(151,932	)
Accumulated Net Realized Gain (Loss)		34,666
Net Unrealized Foreign Exchange Gain (Loss)		337
Net Unrealized Appreciation (Depreciation)		3,261,064
NET ASSETS	$	13,966,605

See accompanying Notes to Financial Statements.
89

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

STATEMENTS OF ASSETS AND LIABILITIES

OCTOBER 31, 2017
(Amounts in thousands, except share and per share amounts)

ASSETS:
Investments in Affiliated Investment Companies at Value	$	13,349,739
Segregated Cash for Futures Contracts		3,983
Cash		144,705
Receivables:
Fund Shares Sold		5,341
Futures Margin Variation		195
Prepaid Expenses and Other Assets		31
Total Assets		13,503,994
LIABILITIES:
Payables:
Fund Shares Redeemed		8,469
Due to Advisor		4,543
Accrued Expenses and Other Liabilities		692
Total Liabilities		13,704
NET ASSETS	$	13,490,290
NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE:
Institutional Class Shares — based on net assets of $13,490,290 and
shares outstanding of 626,740,788	$	21.52
NUMBER OF SHARES AUTHORIZED		3,000,000,000
NET ASSETS CONSIST OF:
Paid-In Capital	$	10,201,607
Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)		19,361
Accumulated Net Realized Gain (Loss)		385,659
Net Unrealized Foreign Exchange Gain (Loss)		(195	)
Net Unrealized Appreciation (Depreciation)		2,883,858
NET ASSETS	$	13,490,290

See accompanying Notes to Financial Statements.
90

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO*^#

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED OCTOBER 31, 2017
(Amounts in thousands)

Investment Income
Net Investment Income Allocated from Affiliated Investment Companies:
Dividends (Net of Foreign Taxes Withheld of $24,970)	$	285,269
Interest		1
Income from Securities Lending		31,475
Expenses Allocated from Affiliated Investment Companies		(14,457	)
Income Distributions Received from Affiliated Investment Companies		767
Total Investment Income		303,055
Fund Investment Income
Fund Expenses
Investment Management Fees		47,621
Accounting & Transfer Agent Fees		210
Custodian Fees		5
Filing Fees		258
Shareholders’ Reports		473
Directors’/Trustees’ Fees & Expenses		114
Professional Fees		81
Other		82
Total Expenses		48,844
Net Expenses		48,844
Net Investment Income (Loss)		254,211
Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) on:
Investment Securities Sold**		422,014
Futures		11,549
Foreign Currency Transactions		(1,764	)
Change in Unrealized Appreciation (Depreciation) of:
Investment Securities and Foreign Currency		2,134,951
Futures		5,699
Translation of Foreign Currency Denominated Amounts		864
Net Realized and Unrealized Gain (Loss)		2,573,313
Net Increase (Decrease) in Net Assets Resulting from Operations	$	2,827,524

____________________

*	Investment Income and Realized and Unrealized Gain (Loss) were allocated from the Portfolio’s Master Funds (Affiliated Investment Companies).
**	Net of foreign capital gain taxes withheld of $0.
#	Portion of income is from investment in affiliated fund.

See accompanying Notes to Financial Statements.
91

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)

	Year			Year
	Ended			Ended
	Oct. 31, 2017			Oct. 31, 2016
Increase (Decrease) in Net Assets
Operations:
Net Investment Income (Loss)	$	254,211		$	238,233
Net Realized Gain (Loss) on:
Investment Securities Sold*		422,014			261,664
Futures		11,549			17,796
Foreign Currency Transactions		(1,764	)		673
Change in Unrealized Appreciation (Depreciation) of:
Investment Securities and Foreign Currency		2,134,951			13,423
Futures		5,699			(2,771	)
Translation of Foreign Currency Denominated Amounts		864			(814	)
Net Increase (Decrease) in Net Assets Resulting from Operations		2,827,524			528,204
Distributions From:
Net Investment Income:
Institutional Class Shares		(205,687	)		(283,791	)
Net Short-Term Gains:
Institutional Class Shares		(18,854	)		—
Net Long-Term Gains:
Institutional Class Shares		(251,076	)		(207,859	)
Total Distributions		(475,617	)		(491,650	)
Capital Share Transactions (1):
Shares Issued		2,235,300			2,126,348
Shares Issued in Lieu of Cash Distributions		456,455			473,837
Shares Redeemed		(1,940,733	)		(1,572,870	)
Net Increase (Decrease) from Capital Share Transactions		751,022			1,027,315
Total Increase (Decrease) in Net Assets		3,102,929			1,063,869
Net Assets
Beginning of Year		10,387,361			9,323,492
End of Year	$	13,490,290		$	10,387,361
(1) Shares Issued and Redeemed:
Shares Issued		116,685			124,163
Shares Issued in Lieu of Cash Distributions		25,675			27,874
Shares Redeemed		(99,987	)		(92,160	)
Net Increase (Decrease) from Shares Issued and Redeemed		42,373			59,877
Undistributed Net Investment Income (Distributions in Excess of Net
Investment Income)	$	19,361		$	(18,870	)

____________________

* Net of foreign capital gain taxes withheld of $0 and $0, respectively.

See accompanying Notes to Financial Statements.
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DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

FINANCIAL HIGHLIGHTS

(for a share outstanding throughout each period)

	Year			Year			Year			Year			Year
	Ended			Ended			Ended			Ended			Ended
	Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,
	2017			2016			2015			2014			2013
Net Asset Value, Beginning of Year	$	17.78		$	17.78		$	18.24		$	19.40		$	15.28
Income from Investment Operations
Net Investment Income (Loss) (A)		0.41			0.43			0.41			0.42			0.42
Net Gains (Losses) on Securities
(Realized and Unrealized)		4.13			0.48			0.12			(0.62	)		4.16
Total from Investment Operations		4.54			0.91			0.53			(0.20	)		4.58
Less Distributions
Net Investment Income		(0.34	)		(0.51	)		(0.42	)		(0.42	)		(0.37	)
Net Realized Gains		(0.46	)		(0.40	)		(0.57	)		(0.54	)		(0.09	)
Total Distributions		(0.80	)		(0.91	)		(0.99	)		(0.96	)		(0.46	)
Net Asset Value, End of Year	$	21.52		$	17.78		$	17.78		$	18.24		$	19.40
Total Return		26.54	%		5.43	%		3.30	%		(1.09	)%		30.66	%
Net Assets, End of Year (thousands)	$	13,490,290		$	10,387,361		$	9,323,492		$	8,844,517		$	8,520,717
Ratio of Expenses to Average
Net Assets(B)		0.53	%		0.53	%		0.54	%		0.53	%		0.54	%
Ratio of Expenses to Average Net Assets
(Excluding Fees (Waived), (Expenses
Reimbursed), and/or Previously Waived
Fees Recovered by Advisor)(B)		0.53	%		0.53	%		0.54	%		0.53	%		0.54	%
Ratio of Net Investment Income to Average
Net Assets		2.14	%		2.47	%		2.30	%		2.15	%		2.47	%

See page 1 for the Definitions of Abbreviations and Footnotes.

See accompanying Notes to Financial Statements.
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DFA INVESTMENT DIMENSIONS GROUP INC.

NOTES TO FINANCIAL STATEMENTS

A. Organization:

DFA Investment Dimensions Group Inc. (the “Fund”) is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of one hundred operational portfolios, of which one, the International Small Company Portfolio (the “Portfolio”), is included in this report.

International Small Company Portfolio invests in five Portfolios (the “Master Fund” or “Underlying Fund”) within The DFA Investment Trust Company (“DFAITC”).

At October 31, 2017, the Portfolio was the owner of record of the following approximate percentages of the total outstanding shares of the following Master/Underlying Funds as detailed below:

		Percentage
		Ownership
Fund of Funds	Master/Underlying Funds	at 10/31/17
International Small Company Portfolio	The Continental Small Company Series	89%
	The Japanese Small Company Series	84%
	The United Kingdom Small Company Series	96%
	The Asia Pacific Small Company Series	82%
	The Canadian Small Company Series	98%

The financial statements of the Portfolio’s Master Funds are included elsewhere in this report and should be read in conjunction with the financial statements of the Portfolio.

B. Significant Accounting Policies:

The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material.

1. Security Valuation: The Portfolio utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below:

● Level 1 – inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts)

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

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

Listed derivatives, such as futures, that are actively traded are valued based on quoted prices from the exchange and are categorized as Level 1 in the hierarchy.

Shares held by the International Small Company Portfolio in other investment companies (such as the Master/Underlying Funds) are valued at their respective daily net assets values as reported by their administrator. The Portfolio’s investments in the Series of DFAITC reflect its proportionate interest in the net assets of such corresponding Master Fund. These valuations are classified as Level 1 in the hierarchy.

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A summary of the inputs used to value the Portfolio’s investments by each major security type, industry and/or country is disclosed previously in this note. A valuation hierarchy table has been included at the end of the Summary Schedule of Portfolio Holdings/Schedule of Investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

For the year ended October 31, 2017, there were no significant transfers between Level 1 and Level 2 and no significant Level 3 investments held by the Portfolio.

2. Deferred Compensation Plan: Each eligible Director of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the “Plan”). Under the Plan, effective January 1, 2002, such Directors may defer payment of all or a portion of their total fees earned as a Director. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors’/Trustees’ Fees & Expenses.

Each Director has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed-upon years. Each Director shall have the right in a notice of election (the “Notice”) to defer the receipt of the Director’s deferred compensation until a date specified by such Director in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director ceases to be a member of the Board of Directors of the Fund; and (ii) five years following the effective date of the Director’s first deferral election. If a Director who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director’s deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director ceases to be a member of the Board (unless the Director files an amended Notice selecting a different distribution date). As of October 31, 2017, none of the Directors have requested or received a distribution of proceeds of a deferred fee account.

3. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities/affiliated investment companies and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities and from the investment in affiliated investment companies that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Portfolio estimates the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Discount and premium on debt securities purchased are amortized over the lives of the respective securities, utilizing the effective interest method. Expenses directly attributable to the Portfolio are directly charged. Common expenses of the Fund or its other Portfolios are allocated using methods approved by the Board, generally based on average net assets.

International Small Company Portfolio recognizes its pro-rata share of net investment income and realized and unrealized gains/losses on a daily basis from their respective Master Fund within DFAITC, which are treated as partnerships for federal income tax purposes.

The Portfolio may be subject to taxes imposed by countries in which they invest, with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The Portfolio accrues such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country’s balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad.

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C. Investment Advisor and Administrator:

The Advisor, Dimensional Fund Advisors LP, provides investment management services to the Portfolio.

For the year ended October 31, 2017, the International Small Company Portfolio’s investment management fees were accrued daily and paid monthly to the Advisor based on an effective annual rate of 0.40% of average daily net assets.

Pursuant to an Amended and Restated Fee Waiver and/or Expense Assumption Agreement (the “Fee Waiver Agreement”), effective July 21, 2015, the Advisor has contractually agreed to waive all or a portion of its management fee and to assume the other direct expenses of a class of the Portfolio (excluding expenses incurred through its investment in other investment companies) (“Portfolio Expenses”) to the extent necessary to limit the Portfolio Expenses of a class of the Portfolio to 0.45% of the average net assets of a class of the Portfolio on an annualized basis (the “Expense Limitation Amount”). At any time that the Portfolio Expenses of a class of the Portfolio are less than Expense Limitation Amount for such class of shares of the Portfolio, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery is within thirty-six months and will not cause the annualized Portfolio Expenses for such class of shares of the Portfolio to exceed the applicable Expense Limitation Amount, as listed above. Prior to July 21, 2015, the Advisor had contractually agreed to waive its administration fee and to assume Portfolio Expenses to the extent necessary to limit the Portfolio Expenses of the Portfolio, on an annualized basis, to the Expense Limitation Amount listed above.

Fees Paid to Officers and Directors/Trustees:

Certain Officers and Directors of the Advisor are also Officers and Directors of the Fund; however, such Officers and Directors (with the exception of the Chief Compliance Officer (“CCO”)) receive no compensation from the Fund. For the year ended October 31, 2017, the total related amounts paid by the Fund to the CCO were $303 (in thousands). The total related amounts paid by each of the Portfolios are included in Other Expenses on the Statement of Operations.

D. Deferred Compensation:

At October 31, 2017, the total liability for deferred compensation to Directors was $331 and is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities (amounts in thousands).

E. Federal Income Taxes:

The Portfolio has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to its shareholders. Accordingly, no provision has been made for federal income taxes.

Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2017, primarily attributable to realized gains on securities considered to be “passive foreign investment companies”, non-deductible expenses, realized foreign capital gains tax, tax-equalization, non-deductible 90 day stock issuance cost, net foreign currency gains/losses, distributions received from real estate investment trusts and distribution redesignations, were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands):

		Increase	Increase
	Increase	(Decrease)	(Decrease)
	(Decrease)	Undistributed	Accumulated
	Paid-In	Net Investment	Net Realized
	Capital	Income	Gains (Losses)
International Small Company Portfolio	$42,965	$(10,293)	$(32,672)

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The tax character of dividends and distributions declared and paid during the years ended October 31, 2016 and October 31, 2017 were as follows (amounts in thousands):

	Net Investment
	Income and
	Short-Term		Long-Term
	Capital Gains		Capital Gains		Total
International Small Company Portfolio
2016	$	283,791	$	207,859	$	491,650
2017		224,540		251,076		475,616

At October 31, 2017, the following net investment income and short-term capital gains and long-term capital gains distributions designated for federal income tax purposes are due to the utilization of accumulated earnings and profits distributed to shareholders upon redemption of shares (amounts in thousands):

	Net Investment
	Income and
	Short-Term	Long-Term
	Capital Gains	Capital Gains	Total
International Small Company Portfolio	$(21,090)	$(21,876)	$(42,966)

At October 31, 2017, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands):

	Undistributed				Total Net
	Net Investment				Distributable
	Income and	Undistributed		Unrealized	Earnings
	Short-Term	Long-Term	Capital Loss	Appreciation	(Accumulated
	Capital Gains	Capital Gains	Carryforwards	(Depreciation)	Losses)
International Small Company Portfolio	$219,245	$375,722	—	$2,697,226	$3,292,193

For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by the Portfolio after October 31, 2011, will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding enactment. As of October 31, 2017, the Portfolio did not have any capital loss carryforwards available to offset future realized capital gains.

At October 31, 2017, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes, as follows (amounts in thousands):

				Net
				Unrealized
	Federal	Unrealized	Unrealized	Appreciation
	Tax Cost	Appreciation	Depreciation	(Depreciation)
International Small Company Portfolio	$10,655,424	$2,697,226	—	$2,697,226

The difference between GAAP-basis and tax basis unrealized gains (losses) is attributable primarily to wash sales and net mark to market gains (losses) on regulated futures contracts, net mark-to-market gain/loss on foreign currency contracts, and differences in the tax treatment of passive foreign investment company investments.

ASC 740 Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed the Portfolios’ tax positions and has concluded that no additional provision for income tax is required in the Portfolios’ financial statements. The Portfolios are not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Portfolios’ federal tax returns the prior three fiscal years remain subject to examination by the Internal Revenue Service.

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F. Financial Instruments:

In accordance with the Portfolio’s investment objective and policies, the Portfolio may invest, either directly or indirectly through its investment in a corresponding Master/Underlying Fund, in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below:

1. Foreign Market Risks: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Portfolio may be inhibited.

Derivative Financial instruments:

Summarized below are the specific types of derivative instruments used by the Portfolio.

2. Futures Contracts: The Portfolio may purchase or sell futures contracts and options on futures contracts for equity securities and indices to adjust market exposure based on actual or expected cash inflows to or outflows from the Portfolio. The Portfolio, however, does not intend to sell futures contracts to establish short positions in individual securities. Upon entering into a futures contract, the Portfolio deposits cash or pledges U.S. government securities to a broker, equal to the minimum “initial margin” requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as “variation margin” and are recorded daily by the Portfolio as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Portfolio records a realized gain or loss, which is presented in the Statements of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Portfolio could lose more than the initial margin requirements. When entering into stock index futures, the Portfolio is subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default.

The average volume (based on the open positions at each fiscal month-end) of derivative activity for the year ended October 31, 2017 (amounts in thousands):

	Futures
International Small Company Portfolio	$83,497

Securities have been segregated as collateral for open futures contracts.

The following is a summary of the location of derivatives on the Portfolio’s Statements of Assets and Liabilities as of October 31, 2017:

	Location on the Statements of Liabilities
Derivative Type	Assets Derivatives
Equity contracts	Receivable: Futures Margin Variation

The following is a summary of the Portfolio’s derivative instrument holdings categorized by primary risk exposure as of October 31, 2017 (amounts in thousands):

	Asset Derivatives Value
	Total Value at	Equity
	October 31, 2017	Contracts*
International Small Company Portfolio	$2,910	$2,910

* Includes cumulative appreciation (depreciation) of futures contracts. Only current day’s margin variation is reported within the Statement of Assets and Liabilities.

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The following is a summary of the location on the Portfolio’s Statements of Operations of realized and change in unrealized gains and losses from the Portfolio’s derivative instrument holdings through the year ended October 31, 2017:

Derivative Type	Location of Gain (Loss) on Derivatives
Equity contracts	Net Realized Gain (Loss) on: Futures
	Change in Unrealized Appreciation (Depreciation) of: Futures

The following is a summary of the realized and change in unrealized gains and losses from the Portfolio’s derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2017 (amounts in thousands):

	Realized Gain (Loss) on
	Derivatives
		Equity
	Total	Contracts
International Small Company Portfolio	$11,549	$11,549(1)

	Change in Unrealized
	Appreciation on Derivatives
		Equity
	Total	Contracts
International Small Company Portfolio	$5,699	$5,699

(1) The amount listed reflects allocated derivatives activity from the Master Fund.

G. Line of Credit and Interfund Lending Program:

The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million uncommitted, unsecured discretionary line of credit effective March 29, 2017, with its domestic custodian bank. A line of credit with similar terms was in effect through March 29, 2017. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The agreement for the line of credit expires on March 28, 2018.

The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $700 million unsecured line of credit with its international custodian bank effective January 6, 2017. A line of credit with similar terms was in effect through January 6, 2017. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $700 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The line of credit agreement expires on January 5, 2018.

There were no borrowings by the Portfolio under the lines of credit during the year ended October 31, 2017.

Pursuant to an exemptive order issued by the SEC (the “Order”), the Portfolio may participate in an interfund lending program among certain portfolios managed by the Advisor (portfolios that operate as feeder funds do not participate in the program). The program allows the participating portfolios to borrow money from and loan money to each other for temporary or emergency purposes, subject to the conditions in the Order. A loan can only be made through the program if the interfund loan rate on that day is more favorable to both the borrowing and lending portfolios as compared to rates available through short-term bank loans or investments in overnight repurchase agreements and money market funds, respectively, as detailed in the Order. Further, a portfolio may participate in the program only if and to the extent that such participation is consistent with its investment objectives and limitations. Interfund loans have a maximum duration of seven days and may be called on one business day’s notice.

The Portfolio did not utilize the interfund lending program during the year ended October 31, 2017.

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H. Indemnitees; Contractual Obligations:

Under the Fund’s organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund.

In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties that provide general indemnification. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote.

I. Recently Issued Accounting Standards:

In October 2016, the U.S. Securities and Exchange Commission (“SEC”) adopted new rules and forms, and amendments to certain current rules and forms, to modernize reporting and disclosure of information by registered investment companies. The amendments to Regulation S-X require standardized, enhanced disclosure about derivatives in investment company financial statements, and also change the rules governing the form and content of such financial statements. The amendments to Regulation S-X took effect on August 1, 2017, and the financial statements have been modified accordingly, as applicable.

J. Other:

At October 31, 2017, the following number of shareholders held the following approximate percentages of the stated Portfolio’s outstanding shares. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors.

		Approximate
	Number of	Percentage of
	Shareholders	Outstanding Shares
International Small Company Portfolio – Institutional Class Shares	3	59%

K. Subsequent Event Evaluations:

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

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of DFA Investment Dimensions Group Inc. and
Shareholders of the Portfolios, as defined

In our opinion, the accompanying statement of assets and liabilities, including the schedule of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of International Small Company Portfolio (one of the portfolios constituting DFA Investment Dimensions Group Inc., hereafter referred to as the “Portfolio”) as of October 31, 2017, the results of its operations, the changes in its net assets for each of the two years in the period ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Portfolio’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities as of October 31, 2017 by correspondence with the custodians, brokers and the transfer agents of the investee funds, provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania
December 21, 2017

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Selected Financial Statements of The DFA Investment Trust Company

The Japanese Small Company Series

The Asia Pacific Small Company Series

The United Kingdom Small Company Series

The Continental Small Company Series

The Canadian Small Company Series

TABLE OF CONTENTS

	Page
Disclosure of Fund Expenses — October 31, 2017 (Unaudited)	103
Disclosure of Portfolio Holdings — October 31, 2017 (Unaudited)	105
Summary Schedules of Portfolio Holdings--December 31, 2017 (Unaudited)	106
The Japanese Small Company Series	106
The Asia Pacific Small Company Series	109
The United Kingdom Small Company Series	112
The Continental Small Company Series	116
The Canadian Small Company Series	120
Summary Schedules of Portfolio Holdings — October 31, 2017	123
The Japanese Small Company Series	123
The Asia Pacific Small Company Series	126
The United Kingdom Small Company Series	129
The Continental Small Company Series	133
The Canadian Small Company Series	137
Statement of Assets and Liabilities — December 31, 2017 (Unaudited)	140
Statement of Assets and Liabilities — October 31, 2017	141
Statement of Operations — October 31, 2017	142
Statement of Changes in Net Assets	143
Financial Highlights	145
Notes to Financial Statements — October 31, 2017	147
Report of Independent Registered Public Accounting Firm	156
Fund Management — October 31, 2017	157
Voting Proxies on Fund Portfolio Securities	164

102

THE DFA INVESTMENT TRUST COMPANY

DISCLOSURE OF FUND EXPENSES
(Unaudited)

The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund’s gross income, directly reduce the investment return of the fund. A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The Expense Tables below illustrate your fund’s costs in two ways.

Actual Fund Return

This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The “Ending Account Value” shown is derived from the fund’s actual return and “Expenses Paid During Period” reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading “Expenses Paid During Period.”

Hypothetical Example for Comparison Purposes

This section is intended to help you compare your fund’s costs with those of other mutual funds. The hypothetical “Ending Account Value” and “Expenses Paid During Period” are derived from the fund’s actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund’s actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The “Annualized Expense Ratio” represents the actual expenses for the six-month period indicated.

Six Months Ended October 31, 2017

EXPENSE TABLES

	Beginning	Ending		Expenses
	Account	Account	Annualized	Paid
	Value	Value	Expense	During
	05/01/17	10/31/17	Ratio*	Period*
The Japanese Small Company Series
Actual Fund Return	$1,000.00	$1,186.60	0.13%	$0.72
Hypothetical 5% Annual Return	$1,000.00	$1,024.55	0.13%	$0.66
The Asia Pacific Small Company Series
Actual Fund Return	$1,000.00	$1,106.20	0.13%	$0.69
Hypothetical 5% Annual Return	$1,000.00	$1,024.55	0.13%	$0.66
The United Kingdom Small Company Series
Actual Fund Return	$1,000.00	$1,075.80	0.11%	$0.58
Hypothetical 5% Annual Return	$1,000.00	$1,024.65	0.11%	$0.56

103

	Beginning	Ending		Expenses
	Account	Account	Annualized	Paid
	Value	Value	Expense	During
	05/01/17	10/31/17	Ratio*	Period*
The Continental Small Company Series
Actual Fund Return	$1,000.00	$1,134.20	0.13%	$0.70
Hypothetical 5% Annual Return	$1,000.00	$1,024.55	0.13%	$0.66
The Canadian Small Company Series
Actual Fund Return	$1,000.00	$1,067.60	0.12%	$0.63
Hypothetical 5% Annual Return	$1,000.00	$1,024.60	0.12%	$0.61

____________________

*        Expenses are equal to the fund’s annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period.

104

THE DFA INVESTMENT TRUST COMPANY

DISCLOSURE OF PORTFOLIO HOLDINGS
(Unaudited)

The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For The DFA Investment Trust Company, this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. The DFA Investment Trust Company filed its most recent Form N-Q with the SEC on September 29, 2017. They are available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC’s website at http://www.sec.gov, or they may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room).

SEC regulations permit a fund to include in its reports to shareholders a “Summary Schedule of Portfolio Holdings” in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund’s 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund’s net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that are held.

A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC’s website at http://www.sec.gov, or they may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room).

PORTFOLIO HOLDINGS

The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications.

DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS

	Consumer		Consumer						Health				Information				Real		Telecommunication
	Discretionary		Staples		Energy		Financials		Care		Industrials		Technology		Materials		Estate		Services		Utilities		Total
The Japanese Small
Company Series	19.6	%	8.1	%	1.1	%	8.5	%	4.5	%	28.9	%	14.8	%	11.2	%	2.20	%	0.1	%	1.0	%	100	%
The Asia Pacific Small
Company Series	24.0	%	6.7	%	3.4	%	10.5	%	5.2	%	16.0	%	8.5	%	13.8	%	6.50	%	2.6	%	2.8	%	100	%
The United Kingdom Small
Company Series	21.3	%	4.9	%	4.2	%	15.1	%	3.9	%	26.4	%	11.2	%	7.6	%	2.40	%	1.4	%	1.6	%	100	%
The Continental Small
Company Series	13.4	%	5.5	%	2.9	%	12.2	%	7.3	%	26.3	%	11.1	%	9.3	%	5.70	%	3.2	%	3.1	%	100	%
The Canadian Small
Company Series	9.0	%	4.9	%	21.7	%	7.7	%	1.6	%	12.6	%	4.5	%	29.0	%	3.30	%	0.0	%	5.7	%	100	%

105

THE JAPANESE SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2017
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (91.7%)
Consumer Discretionary — (18.2%)
	Aoyama Trading Co., Ltd.	307,500	$	11,490,989	0.3	%
#	Resorttrust, Inc.	513,000		11,657,818	0.3	%
	Wacoal Holdings Corp.	338,000		10,661,461	0.3	%
	Other Securities			790,053,360	18.9	%
Total Consumer Discretionary				823,863,628	19.8	%
Consumer Staples — (7.7%)
	Megmilk Snow Brand Co., Ltd.	321,100		9,497,347	0.2	%
	Morinaga Milk Industry Co., Ltd.	243,400		11,012,369	0.3	%
	Nippon Suisan Kaisha, Ltd.	1,832,600		9,582,268	0.2	%
	Takara Holdings, Inc.	1,048,200		12,226,761	0.3	%
	Other Securities			305,942,602	7.4	%
Total Consumer Staples				348,261,347	8.4	%
Energy — (1.0%)
	Cosmo Energy Holdings Co., Ltd.	344,800		12,982,684	0.3	%
	Other Securities			32,452,833	0.8	%
Total Energy				45,435,517	1.1	%
Financials — (7.4%)
#	77 Bank, Ltd. (The)	413,652		10,409,973	0.3	%
	Daishi Bank, Ltd. (The)	207,100		9,399,249	0.2	%
	Jafco Co., Ltd.	190,600		10,995,133	0.3	%
	Other Securities			303,398,787	7.2	%
Total Financials				334,203,142	8.0	%
Health Care — (4.2%)
	Nihon Kohden Corp.	440,900		10,193,961	0.3	%
	Nipro Corp.	630,500		9,318,260	0.2	%
	Ship Healthcare Holdings, Inc.	283,600		9,373,944	0.2	%
	Other Securities			158,782,841	3.8	%
Total Health Care				187,669,006	4.5	%
Industrials — (26.9%)
	Aica Kogyo Co., Ltd.	264,800		9,816,505	0.2	%
	DMG Mori Co., Ltd.	516,400		10,631,376	0.3	%
	Hanwa Co., Ltd.	244,200		11,270,188	0.3	%
	Japan Steel Works, Ltd. (The)	398,400		12,799,053	0.3	%
	Kyowa Exeo Corp.	368,500		9,526,705	0.2	%
	Nagase & Co., Ltd.	540,600		9,717,548	0.2	%
	Nikkon Holdings Co., Ltd.	361,200		10,152,538	0.3	%
	Nishi-Nippon Railroad Co., Ltd.	409,300		11,031,886	0.3	%
	Nishimatsu Construction Co., Ltd.	358,800		10,038,309	0.3	%
	Nisshinbo Holdings, Inc.	911,080		12,337,925	0.3	%
	OKUMA Corp.	169,800		11,230,235	0.3	%
	Penta-Ocean Construction Co., Ltd.	1,890,000		14,081,205	0.3	%
	Pilot Corp.	221,300		10,658,351	0.3	%
	Sankyu, Inc.	250,200		10,770,006	0.3	%

106

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Tadano, Ltd.	607,400	$	10,040,106	0.3%
	TechnoPro Holdings, Inc.	217,600		11,797,237	0.3%
	Trusco Nakayama Corp.	335,300		9,765,749	0.2%
	Ushio, Inc.	660,700		9,424,462	0.2%
	Other Securities			1,019,239,896	24.3%
Total Industrials				1,214,329,280	29.2%
Information Technology — (13.0%)
	Amano Corp.	391,500		10,209,046	0.3%
	Citizen Watch Co., Ltd.	1,479,400		10,835,844	0.3%
	Nihon Unisys, Ltd.	449,675		9,336,630	0.2%
#	Taiyo Yuden Co., Ltd.	678,700		10,507,902	0.3%
	Tokyo Seimitsu Co., Ltd.	244,800		9,633,317	0.2%
	Topcon Corp.	662,200		14,274,636	0.4%
	Other Securities			521,239,513	12.4%
Total Information Technology				586,036,888	14.1%
Materials — (10.2%)
	ADEKA Corp.	544,000		9,568,326	0.2%
	Nihon Parkerizing Co., Ltd.	581,400		9,780,692	0.2%
	Nippon Light Metal Holdings Co., Ltd.	3,722,800		10,575,028	0.3%
	NOF Corp.	435,000		11,651,172	0.3%
	Sumitomo Bakelite Co., Ltd.	1,112,000		9,331,369	0.2%
	Sumitomo Osaka Cement Co., Ltd.	2,368,000		11,404,526	0.3%
#	Tokai Carbon Co., Ltd.	1,289,000		15,904,978	0.4%
	Tokuyama Corp.	462,998		15,020,258	0.4%
	Tokyo Ohka Kogyo Co., Ltd.	227,700		9,801,343	0.2%
	Toyobo Co., Ltd.	568,800		10,322,924	0.3%
	Other Securities			345,922,748	8.3%
Total Materials				459,283,364	11.1%
Real Estate — (2.0%)
	Leopalace21 Corp.	1,598,200		12,410,983	0.3%
	Open House Co., Ltd.	185,500		9,978,373	0.3%
	Other Securities			69,760,010	1.6%
Total Real Estate				92,149,366	2.2%
Telecommunication Services — (0.1%)
	Other Securities			5,055,721	0.1%
Utilities — (1.0%)
	Other Securities			46,739,203	1.1%
TOTAL COMMON STOCKS				4,143,026,462	99.6%
TOTAL INVESTMENT SECURITIES				4,143,026,462
			Value†
SECURITIES LENDING COLLATERAL — (8.3%)
§@	DFA Short Term Investment Fund	32,292,894		373,628,783	9.0%
TOTAL INVESTMENTS — (100.0%) (Cost $3,318,150,031)^			$	4,516,655,245

__________________

^       The cost for federal income tax purposes is $3,318,150,031.

107

The Japanese Small Company Series
continued

Summary of the Series’ investments as of December 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in
	Securities
	(Market Value)
	Level 1		Level 2		Level 3	Total
Common Stocks
Consumer Discretionary	$	401,582	$	823,462,046	—	$	823,863,628
Consumer Staples		—		348,261,347	—		348,261,347
Energy		—		45,435,517	—		45,435,517
Financials		—		334,203,142	—		334,203,142
Health Care		—		187,669,006	—		187,669,006
Industrials		—		1,214,329,280	—		1,214,329,280
Information Technology		—		586,036,888	—		586,036,888
Materials		—		459,283,364	—		459,283,364
Real Estate		—		92,149,366	—		92,149,366
Telecommunication Services		—		5,055,721	—		5,055,721
Utilities		—		46,739,203	—		46,739,203
Securities Lending Collateral		—		373,628,783	—		373,628,783
TOTAL	$	401,582	$	4,516,253,663	—	$	4,516,655,245

See accompanying Notes to Financial Statements.
108

THE ASIA PACIFIC SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2017
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (89.9%)
AUSTRALIA — (50.4%)
	Adelaide Brighton, Ltd.	3,429,379	$	17,379,872	0.9%
	Ansell, Ltd.	912,691		17,234,976	0.9%
	Beach Energy, Ltd.	16,720,311		16,148,008	0.8%
#	Blackmores, Ltd.	83,730		11,028,087	0.6%
#	carsales.com, Ltd.	1,702,940		19,190,744	1.0%
	Cleanaway Waste Management, Ltd.	13,528,083		15,761,245	0.8%
	CSR, Ltd.	3,680,857		13,608,536	0.7%
	Downer EDI, Ltd.	3,622,856		19,489,854	1.0%
	DuluxGroup, Ltd.	3,101,823		18,484,030	1.0%
	Healthscope, Ltd.	6,145,192		10,045,268	0.5%
	Iluka Resources, Ltd.	1,852,267		14,614,597	0.8%
#	Independence Group NL	2,680,173		9,889,645	0.5%
	InvoCare, Ltd.	920,100		11,515,661	0.6%
	IOOF Holdings, Ltd.	2,368,404		19,738,545	1.0%
	IRESS, Ltd.	1,175,824		10,573,808	0.6%
#	JB Hi-Fi, Ltd.	962,791		18,667,479	1.0%
	Link Administration Holdings, Ltd.	1,491,185		9,776,446	0.5%
#	Metcash, Ltd.	5,370,569		13,020,969	0.7%
	Mineral Resources, Ltd.	1,168,088		19,168,216	1.0%
	Monadelphous Group, Ltd.	813,595		10,980,199	0.6%
	nib holdings, Ltd.	2,859,589		15,067,826	0.8%
	Northern Star Resources, Ltd.	4,806,957		22,886,230	1.2%
	Nufarm, Ltd.	1,720,608		11,692,788	0.6%
	Orora, Ltd.	6,245,391		16,451,993	0.9%
	OZ Minerals, Ltd.	2,198,276		15,613,243	0.8%
	Perpetual, Ltd.	356,426		13,399,203	0.7%
*	Saracen Mineral Holdings, Ltd.	7,203,079		9,501,636	0.5%
	Sims Metal Management, Ltd.	1,382,214		16,905,387	0.9%
	Spark Infrastructure Group	9,144,735		17,875,993	0.9%
	St Barbara, Ltd.	3,947,491		11,755,785	0.6%
	Steadfast Group, Ltd.	4,435,402		9,730,527	0.5%
#	Tabcorp Holdings, Ltd.	5,263,276		22,835,351	1.2%
#	Vocus Group, Ltd.	4,330,071		10,209,925	0.5%
	Whitehaven Coal, Ltd.	4,143,411		14,368,517	0.8%
*	WorleyParsons, Ltd.	1,329,196		14,814,288	0.8%
	Other Securities			554,307,663	28.7%
TOTAL AUSTRALIA				1,073,732,540	55.9%
CHINA — (0.0%)
	Other Securities			514,813	0.0%

109

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (23.8%)
	Dah Sing Financial Holdings, Ltd.	1,490,544	$	9,544,468	0.5%
	Hopewell Holdings, Ltd.	3,465,000		12,741,741	0.7%
	Johnson Electric Holdings, Ltd.	2,372,750		9,922,142	0.5%
	Luk Fook Holdings International, Ltd.	3,259,000		13,980,982	0.7%
	Man Wah Holdings, Ltd.	11,957,600		11,338,020	0.6%
	NagaCorp, Ltd.	12,434,000		9,603,009	0.5%
	Orient Overseas International, Ltd.	1,277,000		12,312,100	0.7%
	Vitasoy International Holdings, Ltd.	5,581,000		14,270,390	0.8%
#	VTech Holdings, Ltd.	862,100		11,275,437	0.6%
	Xinyi Glass Holdings, Ltd.	11,248,000		14,620,835	0.8%
	Other Securities			385,890,652	19.9%
TOTAL HONG KONG				505,499,776	26.3%
NEW ZEALAND — (6.1%)
*	a2 Milk Co., Ltd.	1,841,184		10,530,634	0.6%
#	Mainfreight, Ltd.	536,356		9,648,499	0.5%
	SKYCITY Entertainment Group, Ltd.	5,321,472		15,638,253	0.8%
	Other Securities			93,958,797	4.9%
TOTAL NEW ZEALAND				129,776,183	6.8%
SINGAPORE — (9.6%)
#	Singapore Post, Ltd.	10,457,500		9,695,141	0.5%
	Venture Corp., Ltd.	1,393,300		21,271,613	1.1%
	Other Securities			174,023,778	9.1%
TOTAL SINGAPORE				204,990,532	10.7%
UNITED KINGDOM — (0.0%)
	Other Securities			43,047	0.0%
TOTAL COMMON STOCKS				1,914,556,891	99.7%
RIGHTS/WARRANTS — (0.0%)
HONG KONG — (0.0%)
	Other Securities			3,964	0.0%
TOTAL RIGHTS/WARRANTS				3,964	0.0%
TOTAL INVESTMENT SECURITIES				1,914,560,855
			Value†
SECURITIES LENDING COLLATERAL — (10.1%)
§@	DFA Short Term Investment Fund	18,607,417		215,287,820	11.2%
TOTAL INVESTMENTS — (100.0%) (Cost $1,970,186,964)^			$	2,129,848,675	110.9%

____________________

^       The cost for federal income tax purposes is $1,970,186,964.

110

The Asia Pacific Small Company Series
continued

Summary of the Series’ investments as of December 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in
	Securities
	(Market Value)
	Level 1	Level 2		Level 3	Total
Common Stocks
Australia	$ 12,643,677	$	1,061,088,863	—	$	1,073,732,540
China	—		514,813	—		514,813
Hong Kong	632,783		504,866,993	—		505,499,776
New Zealand	—		129,776,183	—		129,776,183
Singapore	389,386		204,601,146	—		204,990,532
United Kingdom	—		43,047	—		43,047
Rights/Warrants
Hong Kong	—		3,964	—		3,964
Securities Lending Collateral	—		215,287,820	—		215,287,820
TOTAL	$ 13,665,846	$	2,116,182,829	—	$	2,129,848,675

See accompanying Notes to Financial Statements.
111

THE UNITED KINGDOM SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2017
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (96.3%)
Consumer Discretionary — (21.3%)
	B&M European Value Retail SA	3,839,563	$	21,910,451	0.9%
	Bellway P.L.C.	662,602		31,764,951	1.3%
#	GVC Holdings P.L.C.	1,558,667		19,457,070	0.8%
	Inchcape P.L.C.	2,367,340		24,938,623	1.0%
	Ladbrokes Coral Group P.L.C.	6,643,757		16,277,222	0.7%
	SSP Group P.L.C.	2,356,607		21,644,746	0.9%
	UBM P.L.C.	2,150,381		21,649,620	0.9%
	WH Smith P.L.C.	660,318		20,915,310	0.9%
	William Hill P.L.C.	4,544,921		19,714,441	0.8%
	Other Securities			328,400,138	13.7%
Total Consumer Discretionary				526,672,572	21.9%
Consumer Staples — (5.1%)
	Booker Group P.L.C.	8,370,700		25,864,319	1.1%
	Tate & Lyle P.L.C.	2,744,779		26,016,307	1.1%
	Other Securities			73,741,477	3.0%
Total Consumer Staples				125,622,103	5.2%
Energy — (4.3%)
	John Wood Group P.L.C.	3,479,405		30,443,488	1.3%
*	Tullow Oil P.L.C.	7,975,394		22,205,803	0.9%
	Other Securities			53,068,366	2.2%
Total Energy				105,717,657	4.4%
Financials — (14.7%)
	Beazley P.L.C.	2,954,459		21,308,226	0.9%
	Close Brothers Group P.L.C.	858,008		16,763,830	0.7%
	Hiscox, Ltd.	1,547,072		30,549,463	1.3%
	IG Group Holdings P.L.C.	1,951,219		18,891,822	0.8%
	Intermediate Capital Group P.L.C.	1,606,829		24,810,836	1.0%
	Jupiter Fund Management P.L.C.	2,283,894		19,325,139	0.8%
	Man Group P.L.C.	9,163,251		25,498,083	1.1%
	Phoenix Group Holdings	2,049,058		21,601,134	0.9%
	TP ICAP P.L.C.	2,919,500		20,929,024	0.9%
	Other Securities			163,507,451	6.7%
Total Financials				363,185,008	15.1%
Health Care — (3.6%)
*	BTG P.L.C.	1,711,566		17,595,344	0.7%
*	Indivior P.L.C.	3,837,838		21,075,599	0.9%
	Other Securities			50,448,966	2.1%
Total Health Care				89,119,909	3.7%

112

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (24.9%)
	Balfour Beatty P.L.C.	4,173,571	$	16,693,574	0.7%
	BBA Aviation P.L.C.	6,027,210		28,402,805	1.2%
*	Cobham P.L.C.	12,433,474		21,155,127	0.9%
	Hays P.L.C.	8,497,027		20,927,505	0.9%
	HomeServe P.L.C.	1,412,318		15,426,210	0.6%
	Howden Joinery Group P.L.C.	3,833,975		24,134,329	1.0%
	IMI P.L.C.	1,368,653		24,588,919	1.0%
	Meggitt P.L.C.	3,672,188		23,844,824	1.0%
	Melrose Industries P.L.C.	9,436,744		26,997,332	1.1%
	Spirax-Sarco Engineering P.L.C.	341,722		25,835,782	1.1%
	Travis Perkins P.L.C.	893,624		18,894,124	0.8%
	Weir Group P.L.C. (The)	606,836		17,359,603	0.7%
	Other Securities			351,095,593	14.6%
Total Industrials				615,355,727	25.6%
Information Technology — (10.1%)
	Auto Trader Group P.L.C.	4,021,190		19,113,365	0.8%
	AVEVA Group P.L.C.	418,609		15,610,011	0.6%
	Electrocomponents P.L.C.	2,762,938		23,323,686	1.0%
	Halma P.L.C.	1,822,256		30,962,247	1.3%
	Playtech P.L.C.	1,474,852		17,116,685	0.7%
	Rightmove P.L.C.	468,485		28,430,341	1.2%
	Spectris P.L.C.	734,061		24,573,553	1.0%
	Other Securities			89,030,120	3.7%
Total Information Technology				248,160,008	10.3%
Materials — (7.3%)
	DS Smith P.L.C.	2,262,365		15,769,795	0.7%
*	KAZ Minerals P.L.C.	1,460,573		17,557,495	0.7%
	RPC Group P.L.C.	2,277,533		27,053,033	1.1%
	Victrex P.L.C.	521,515		18,569,253	0.8%
	Other Securities			102,098,015	4.2%
Total Materials				181,047,591	7.5%
Real Estate — (2.5%)
#	Capital & Counties Properties P.L.C.	4,125,455		17,786,749	0.7%
	Other Securities			42,752,887	1.8%
Total Real Estate				60,539,636	2.5%
Telecommunication Services — (1.0%)
	Inmarsat P.L.C.	2,371,810		15,689,057	0.6%
	Other Securities			9,434,060	0.4%
Total Telecommunication Services				25,123,117	1.0%

113

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Utilities — (1.5%)
	Pennon Group P.L.C.	2,236,812	$	23,614,606	1.0%
	Other Securities			14,114,131	0.6%
Total Utilities				37,728,737	1.6%
TOTAL COMMON STOCKS				2,378,272,065	98.8%
TOTAL INVESTMENT SECURITIES				2,378,272,065
			Value†
SECURITIES LENDING COLLATERAL — (3.7%)
§@	DFA Short Term Investment Fund	7,889,811		91,285,112	3.8%
TOTAL INVESTMENTS — (100.0%) (Cost $1,988,381,798)^			$	2,469,557,177	102.6%

____________________

^ The cost for federal income tax purposes is $1,988,381,798.

114

The United Kingdom Small Company Series
continued

Summary of the Series’ investments as of December 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3	Total
Common Stocks
Consumer Discretionary	$	—	$	526,672,572	—	$	526,672,572
Consumer Staples		—		125,622,103	—		125,622,103
Energy		—		105,717,657	—		105,717,657
Financials		—		363,185,008	—		363,185,008
Health Care		—		89,119,909	—		89,119,909
Industrials		—		615,355,727	—		615,355,727
Information Technology		—		248,160,008	—		248,160,008
Materials		—		181,047,591	—		181,047,591
Real Estate		—		60,539,636	—		60,539,636
Telecommunication Services		—		25,123,117	—		25,123,117
Utilities		—		37,728,737	—		37,728,737
Securities Lending Collateral		—		91,285,112	—		91,285,112
TOTAL	$	—	$	2,469,557,177	—	$	2,469,557,177

See accompanying Notes to Financial Statements.
115

THE CONTINENTAL SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2017
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (90.6%)
AUSTRIA — (3.3%)
	Other Securities		$	213,320,735	3.6%
BELGIUM — (4.1%)
	Ackermans & van Haaren NV	135,161		23,524,321	0.4%
*	Galapagos NV	220,186		20,747,544	0.4%
#	Umicore SA	703,600		33,314,724	0.6%
	Other Securities			188,536,146	3.1%
TOTAL BELGIUM				266,122,735	4.5%
DENMARK — (4.6%)
#	GN Store Nord A.S.	855,243		27,621,802	0.5%
	Jyske Bank A.S.	434,014		24,676,693	0.4%
	Sydbank A.S.	503,207		20,254,661	0.4%
	TDC A.S.	5,173,971		31,782,146	0.5%
*	Topdanmark A.S.	491,266		21,216,863	0.4%
	Other Securities			173,636,092	2.8%
TOTAL DENMARK				299,188,257	5.0%
FINLAND — (6.1%)
#	Amer Sports Oyj	754,639		20,887,070	0.4%
	Elisa Oyj	812,965		31,887,300	0.5%
#	Huhtamaki Oyj	579,102		24,307,605	0.4%
	Kesko Oyj Class B	407,997		22,149,217	0.4%
#	Metso Oyj	710,373		24,234,516	0.4%
#	Nokian Renkaat Oyj	734,663		33,331,857	0.6%
	Outokumpu Oyj	2,921,503		27,112,383	0.5%
	Other Securities			215,247,405	3.5%
TOTAL FINLAND				399,157,353	6.7%
FRANCE — (12.7%)
	Edenred	1,222,953		35,404,322	0.6%
	Faurecia	306,467		23,884,516	0.4%
	Ingenico Group SA	301,300		32,165,446	0.5%
	Lagardere SCA	673,857		21,579,677	0.4%
	Orpea	178,098		20,968,516	0.4%
	Rexel SA	1,672,607		30,285,799	0.5%
#	Rubis SCA	497,299		35,147,649	0.6%
	Teleperformance	221,607		31,722,981	0.5%
*	Ubisoft Entertainment SA	521,852		40,094,755	0.7%
	Other Securities			555,405,203	9.2%
TOTAL FRANCE				826,658,864	13.8%

116

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (14.5%)
	Freenet AG	811,760	$	29,951,180	0.5%
	Hugo Boss AG	314,787		26,712,235	0.5%
#	K+S AG	1,020,067		25,326,060	0.4%
	Lanxess AG	476,332		37,758,519	0.6%
	LEG Immobilien AG	331,263		37,813,943	0.6%
	OSRAM Licht AG	229,966		20,591,912	0.4%
	QIAGEN NV	701,160		21,869,512	0.4%
	Rheinmetall AG	247,605		31,312,968	0.5%
	Other Securities			711,647,658	11.9%
TOTAL GERMANY				942,983,987	15.8%
IRELAND — (1.2%)
	Kingspan Group P.L.C.	734,997		32,206,081	0.5%
	Other Securities			45,732,123	0.8%
TOTAL IRELAND				77,938,204	1.3%
ISRAEL — (2.4%)
	Other Securities			158,059,470	2.7%
ITALY — (9.9%)
#*	Banco BPM SpA	9,509,050		29,782,153	0.5%
	FinecoBank Banca Fineco SpA	2,209,355		22,567,675	0.4%
	Moncler SpA	701,134		21,915,712	0.4%
	Prysmian SpA	907,443		29,569,132	0.5%
#	Unione di Banche Italiane SpA	6,640,165		28,947,338	0.5%
	Other Securities			514,715,332	8.5%
TOTAL ITALY				647,497,342	10.8%
NETHERLANDS — (5.8%)
	Aalberts Industries NV	638,484		32,438,597	0.6%
#	ASM International NV	339,707		22,941,193	0.4%
#	Boskalis Westminster	598,973		22,571,426	0.4%
	SBM Offshore NV	1,217,053		21,434,670	0.4%
	Other Securities			277,269,672	4.5%
TOTAL NETHERLANDS				376,655,558	6.3%
NORWAY — (2.1%)
	Other Securities			139,061,390	2.3%
PORTUGAL — (1.1%)
	Other Securities			71,328,446	1.2%

117

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SPAIN — (5.2%)
#	Cellnex Telecom SA	909,420	$	23,267,876	0.4%
	Other Securities			317,223,896	5.3%
TOTAL SPAIN				340,491,772	5.7%
SWEDEN — (6.9%)
	Other Securities			448,549,876	7.5%
SWITZERLAND — (10.7%)
	ams AG	316,689		28,689,423	0.5%
#	Aryzta AG	533,092		21,154,559	0.4%
	Georg Fischer AG	24,221		31,975,756	0.5%
	Helvetia Holding AG	39,289		22,098,426	0.4%
#	Logitech International SA	685,575		23,095,201	0.4%
	PSP Swiss Property AG	232,632		22,053,102	0.4%
	Temenos Group AG	307,521		39,353,702	0.7%
	Other Securities			511,992,504	8.4%
TOTAL SWITZERLAND				700,412,673	11.7%
TOTAL COMMON STOCKS				5,907,426,662	98.9%
PREFERRED STOCKS — (0.7%)
GERMANY — (0.7%)
	Other Securities			44,373,902	0.7%
TOTAL PREFERRED STOCKS				44,373,902	0.7%
RIGHTS/WARRANTS — (0.0%)
FRANCE — (0.0%)
	Other Securities			820	0.0%
ISRAEL — (0.0%)
	Other Securities			10	0.0%
SPAIN — (0.0%)
	Other Securities			197,736	0.0%
TOTAL RIGHTS/WARRANTS				198,566	0.0%
TOTAL INVESTMENT SECURITIES				5,951,999,130
			Value†
SECURITIES LENDING COLLATERAL — (8.7%)
§@	DFA Short Term Investment Fund	49,200,303		569,247,510	9.5%
TOTAL INVESTMENTS — (100.0%) (Cost $4,715,276,466)^			$	6,521,246,640	109.1%

____________________

^ The cost for federal income tax purposes is $4,715,276,466.

118

The Continental Small Company Series
continued

Summary of the Series’ investments as of December 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in
	Securities
	(Market Value)
	Level 1		Level 2		Level 3	Total
Common Stocks
Austria		—	$	213,320,735	—	$	213,320,735
Belgium	$	4,495,514		261,627,221	—		266,122,735
Denmark		10,694,363		288,493,894	—		299,188,257
Finland		—		399,157,353	—		399,157,353
France		36,160		826,622,704	—		826,658,864
Germany		—		942,983,987	—		942,983,987
Ireland		—		77,938,204	—		77,938,204
Israel		—		158,059,470	—		158,059,470
Italy		93,381		647,403,961	—		647,497,342
Netherlands		13,755,015		362,900,543	—		376,655,558
Norway		—		139,061,390	—		139,061,390
Portugal		—		71,328,446	—		71,328,446
Spain		—		340,491,772	—		340,491,772
Sweden		752,016		447,797,860	—		448,549,876
Switzerland		—		700,412,673	—		700,412,673
Preferred Stocks
Germany		—		44,373,902	—		44,373,902
Rights/Warrants
France		—		820	—		820
Israel		—		10	—		10
Spain		—		197,736	—		197,736
Securities Lending Collateral		—		569,247,510	—		569,247,510
TOTAL	$	29,826,449	$	6,491,420,191	—	$	6,521,246,640

See accompanying Notes to Financial Statements.
119

THE CANADIAN SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2017
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (84.7%)
Consumer Discretionary — (7.3%)
#	BRP, Inc.	204,351	$	7,561,150	0.6%
#	Cineplex, Inc.	293,783		8,724,677	0.7%
#	Enercare, Inc.	592,559		9,668,564	0.8%
*	Great Canadian Gaming Corp.	333,138		8,955,237	0.7%
	Other Securities			70,614,013	5.8%
Total Consumer Discretionary				105,523,641	8.6%
Consumer Staples — (4.1%)
	Cott Corp.	845,649		14,114,332	1.2%
	Jean Coutu Group PJC, Inc. (The) Class A	416,076		8,083,195	0.7%
	North West Co., Inc. (The)	327,936		7,844,897	0.6%
	Premium Brands Holdings Corp.	150,162		12,323,557	1.0%
	Other Securities			16,768,326	1.3%
Total Consumer Staples				59,134,307	4.8%
Energy — (17.7%)
	Enerplus Corp.	1,406,475		13,773,832	1.1%
#	Gibson Energy, Inc.	757,539		10,956,292	0.9%
*	NuVista Energy, Ltd.	1,310,626		8,362,148	0.7%
*	Paramount Resources, Ltd. Class A	499,113		7,711,041	0.6%
*	Parex Resources, Inc.	873,302		12,616,678	1.0%
	Parkland Fuel Corp.	542,825		11,594,949	0.9%
#	Whitecap Resources, Inc.	2,174,043		15,479,463	1.3%
	Other Securities			176,251,038	14.3%
Total Energy				256,745,441	20.8%
Financials — (7.0%)
#	Canadian Western Bank	537,780		16,792,255	1.4%
#	Genworth MI Canada, Inc.	322,580		11,163,270	0.9%
#	Laurentian Bank of Canada	250,346		11,258,599	0.9%
	TMX Group, Ltd.	218,158		12,225,179	1.0%
	Other Securities			50,280,526	4.0%
Total Financials				101,719,829	8.2%
Health Care — (1.3%)
	Other Securities			18,802,994	1.5%
Industrials — (10.6%)
	New Flyer Industries, Inc.	298,071		12,804,959	1.0%
#	Richelieu Hardware, Ltd.	288,855		7,879,744	0.6%
#	#Russel Metals, Inc.	362,906		8,421,613	0.7%
#	#Stantec, Inc.	522,729		14,621,441	1.2%
	TFI International, Inc.	514,653		13,453,857	1.1%
	Toromont Industries, Ltd.	425,013		18,630,244	1.5%
	Other Securities			78,793,085	6.4%
Total Industrials				154,604,943	12.5%

120

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (3.9%)
*	Celestica, Inc.	712,858	$	7,474,517	0.6%
*	Descartes Systems Group, Inc. (The)	412,009		11,714,560	1.0%
	Other Securities			37,545,923	3.0%
Total Information Technology				56,735,000	4.6%
Materials — (25.0%)
	Alamos Gold, Inc. Class A	2,373,124		15,462,117	1.3%
*	B2Gold Corp.	5,745,034		17,733,279	1.4%
*	Canfor Corp.	502,970		9,915,351	0.8%
*	Centerra Gold, Inc.	1,552,135		7,952,069	0.6%
*	Detour Gold Corp.	965,461		11,352,039	0.9%
	HudBay Minerals, Inc.	1,626,586		14,402,468	1.2%
*	IAMGOLD Corp.	3,203,040		18,678,030	1.5%
*	Interfor Corp.	467,908		7,861,748	0.6%
	Kirkland Lake Gold, Ltd.	913,033		13,996,934	1.1%
#	Labrador Iron Ore Royalty Corp.	417,556		9,035,420	0.7%
*	New Gold, Inc.	3,603,151		11,838,515	1.0%
	OceanaGold Corp.	3,671,560		9,434,478	0.8%
#	Osisko Gold Royalties, Ltd.	739,341		8,540,353	0.7%
	Pan American Silver Corp.	900,673		14,029,576	1.1%
#	Stella-Jones, Inc.	241,771		9,713,155	0.8%
	Yamana Gold, Inc.	5,278,737		16,461,932	1.3%
	Other Securities			167,139,275	13.7%
Total Materials				363,546,739	29.5%
Real Estate — (3.0%)
	Altus Group, Ltd.	263,514		7,741,903	0.6%
	Colliers International Group, Inc.	185,310		11,184,940	0.9%
	FirstService Corp.	183,662		12,847,573	1.0%
	Other Securities			11,604,926	1.0%
Total Real Estate				43,379,342	3.5%
Utilities — (4.8%)
#	Capital Power Corp.	613,509		11,952,932	1.0%
#	Northland Power, Inc.	562,788		10,454,335	0.8%
	Superior Plus Corp.	849,685		8,023,676	0.6%
	TransAlta Corp.	1,743,759		10,334,928	0.8%
	Other Securities			28,748,233	2.4%
Total Utilities				69,514,104	5.6%
TOTAL COMMON STOCKS				1,229,706,340	99.6%
TOTAL INVESTMENT SECURITIES				1,229,706,340
			Value†
SECURITIES LENDING COLLATERAL — (15.3%)
§@	DFA Short Term Investment Fund	19,247,265		222,690,852	18.0%
TOTAL INVESTMENTS — (100.0%) (Cost $1,503,793,526)^			$	1,452,397,192	117.6%

____________________

^       The cost for federal income tax purposes is $1,503,793,526.

121

The Canadian Small Company Series
continued

Summary of the Series’ investments as of December 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in
	Securities
	(Market Value)
	Level 1		Level 2		Level 3	Total
Common Stocks
Consumer Discretionary	$	105,516,435	$	7,206	—	$	105,523,641
Consumer Staples		59,134,307		—	—		59,134,307
Energy		256,745,115		326	—		256,745,441
Financials		101,719,829		—	—		101,719,829
Health Care		18,666,332		136,662	—		18,802,994
Industrials		154,604,943		—	—		154,604,943
Information Technology		56,735,000		—	—		56,735,000
Materials		363,546,534		205	—		363,546,739
Real Estate		43,379,342		—	—		43,379,342
Utilities		69,514,104		—	—		69,514,104
Securities Lending Collateral		—		222,690,852	—		222,690,852
TOTAL	$	1,229,561,941	$	222,835,251	—	$	1,452,397,192

See accompanying Notes to Financial Statements.
122

THE JAPANESE SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2017

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (90.8%)
Consumer Discretionary — (17.8%)
	Aoyama Trading Co., Ltd.	307,500	$	11,394,402	0.3%
#	Resorttrust, Inc.	507,200		9,986,546	0.3%
	Wacoal Holdings Corp.	338,000		9,660,986	0.3%
	Other Securities			742,584,862	18.5%
Total Consumer Discretionary				773,626,796	19.4%
Consumer Staples — (7.4%)
	Megmilk Snow Brand Co., Ltd.	321,100		8,988,272	0.2%
	Morinaga Milk Industry Co., Ltd.	243,400		9,344,287	0.2%
	Nippon Suisan Kaisha, Ltd.	1,832,600		11,212,866	0.3%
	Takara Holdings, Inc.	1,048,200		10,253,490	0.3%
	Other Securities			282,326,095	7.1%
Total Consumer Staples				322,125,010	8.1%
Energy — (1.0%)
	Other Securities			43,983,248	1.1%
Financials — (7.7%)
	77 Bank, Ltd. (The)	392,952		9,986,545	0.3%
	Daishi Bank, Ltd. (The)	207,100		10,141,558	0.3%
	Jafco Co., Ltd.	190,600		9,420,141	0.2%
	Nishi-Nippon Financial Holdings, Inc.	773,100		9,020,926	0.2%
	Other Securities			299,008,703	7.5%
Total Financials				337,577,873	8.5%
Health Care — (4.1%)
	Nihon Kohden Corp.	407,000		9,060,324	0.2%
	Nipro Corp.	630,500		9,192,086	0.2%
	Sawai Pharmaceutical Co., Ltd.	197,500		11,202,256	0.3%
	Other Securities			148,315,169	3.7%
Total Health Care				177,769,835	4.4%
Industrials — (26.3%)
	Aica Kogyo Co., Ltd.	264,800		9,261,490	0.2%
	DMG Mori Co., Ltd.	619,700		12,496,608	0.3%
	Glory, Ltd.	243,900		9,121,396	0.2%
	Hanwa Co., Ltd.	244,200		9,268,572	0.2%
	Hazama Ando Corp.	1,180,700		9,626,535	0.3%
#	Japan Steel Works, Ltd. (The)	398,400		10,097,965	0.3%
	Nagase & Co., Ltd.	535,500		9,095,948	0.2%
	Nikkon Holdings Co., Ltd.	356,800		9,138,051	0.2%
	Nishi-Nippon Railroad Co., Ltd.	406,600		10,869,438	0.3%
	Nishimatsu Construction Co., Ltd.	358,800		10,832,245	0.3%
#	Nisshinbo Holdings, Inc.	911,080		10,939,879	0.3%
	OKUMA Corp.	169,800		10,437,221	0.3%
	Penta-Ocean Construction Co., Ltd.	1,890,000		12,503,434	0.3%
	Pilot Corp.	221,300		11,188,873	0.3%
	Sankyu, Inc.	250,200		10,344,070	0.3%

123

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#	Tadano, Ltd.	658,100	$	10,029,797	0.3%
	TechnoPro Holdings, Inc.	217,600		9,976,612	0.3%
	Ushio, Inc.	657,700		9,129,387	0.2%
	Other Securities			959,790,164	23.9%
Total Industrials				1,144,147,685	28.7%
Information Technology — (13.4%)
	Amano Corp.	391,500		9,633,436	0.3%
	Citizen Watch Co., Ltd.	1,479,400		10,876,479	0.3%
#	Hitachi Kokusai Electric, Inc.	332,500		9,210,643	0.2%
	Taiyo Yuden Co., Ltd.	678,700		11,849,631	0.3%
	Tokyo Seimitsu Co., Ltd.	240,800		9,572,803	0.3%
	Topcon Corp.	662,200		14,001,261	0.4%
	Other Securities			520,379,508	12.9%
Total Information Technology				585,523,761	14.7%
Materials — (10.1%)
	ADEKA Corp.	544,000		9,396,399	0.2%
	Nihon Parkerizing Co., Ltd.	581,400		9,531,034	0.2%
	Nippon Light Metal Holdings Co., Ltd.	3,567,200		10,499,570	0.3%
	NOF Corp.	435,000		12,571,633	0.3%
	Sumitomo Bakelite Co., Ltd.	1,112,000		9,042,991	0.2%
	Sumitomo Osaka Cement Co., Ltd.	2,368,000		10,844,854	0.3%
	Tokai Carbon Co., Ltd.	1,289,000		12,880,783	0.3%
#	Tokuyama Corp.	462,998		13,138,460	0.3%
	Toyobo Co., Ltd.	568,800		10,956,472	0.3%
	Other Securities			342,221,667	8.7%
Total Materials				441,083,863	11.1%
Real Estate — (2.0%)
	Leopalace21 Corp.	1,598,200		11,934,140	0.3%
	Other Securities			73,820,456	1.8%
Total Real Estate				85,754,596	2.1%
Telecommunication Services — (0.1%)
	Other Securities			4,632,664	0.1%
Utilities — (0.9%)
*	Hokkaido Electric Power Co., Inc.	1,189,200		9,371,339	0.2%
#	Hokuriku Electric Power Co.	1,087,400		9,608,330	0.3%
	Other Securities			20,333,472	0.5%
Total Utilities				39,313,141	1.0%
TOTAL COMMON STOCKS				3,955,538,472	99.2%
TOTAL INVESTMENT SECURITIES				3,955,538,472
			Value†
SECURITIES LENDING COLLATERAL — (9.2%)
§@	DFA Short Term Investment Fund	34,516,023		399,384,904	10.0%
TOTAL INVESTMENTS — (100.0%) (Cost $3,314,290,953)			$	4,354,923,376	109.2%

124

THE JAPANESE SMALL COMPANY SERIES
CONTINUED

Summary of the Series’ investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in
	Securities
	(Market Value)
	Level 1	Level 2		Level 3	Total
Common Stocks
Consumer Discretionary	—	$	773,626,796	—	$	773,626,796
Consumer Staples	—		322,125,010	—		322,125,010
Energy	—		43,983,248	—		43,983,248
Financials	—		337,577,873	—		337,577,873
Health Care	—		177,769,835	—		177,769,835
Industrials	—		1,144,147,685	—		1,144,147,685
Information Technology	—		585,523,761	—		585,523,761
Materials	—		441,083,863	—		441,083,863
Real Estate	—		85,754,596	—		85,754,596
Telecommunication Services	—		4,632,664	—		4,632,664
Utilities	—		39,313,141	—		39,313,141
Securities Lending Collateral	—		399,384,904	—		399,384,904
TOTAL	—	$	4,354,923,376	—	$	4,354,923,376

See accompanying Notes to Financial Statements.
125

THE ASIA PACIFIC SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2017

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (87.5%)
AUSTRALIA — (47.2%)
#	Adelaide Brighton, Ltd.	3,668,074	$	17,462,503	1.0	%
	Ansell, Ltd.	830,803		15,292,658	0.8	%
	Beach Energy, Ltd.	16,720,311		12,508,369	0.7	%
#	Blackmores, Ltd.	82,235		10,057,671	0.6	%
	BT Investment Management, Ltd.	1,061,631		8,782,885	0.5	%
#	carsales.com, Ltd.	1,702,940		17,883,224	1.0	%
	Cleanaway Waste Management, Ltd.	10,618,818		12,220,420	0.7	%
	CSR, Ltd.	3,680,857		13,388,457	0.7	%
	Downer EDI, Ltd.	3,622,856		19,439,855	1.1	%
	DuluxGroup, Ltd.	3,101,823		17,518,012	1.0	%
	Fairfax Media, Ltd.	15,303,894		12,891,987	0.7	%
#	G8 Education, Ltd.	2,577,771		9,004,963	0.5	%
	Iluka Resources, Ltd.	1,852,267		13,347,308	0.7	%
	InvoCare, Ltd.	920,100		11,962,615	0.7	%
#	IOOF Holdings, Ltd.	2,368,404		19,535,461	1.1	%
	IRESS, Ltd.	1,175,824		10,600,488	0.6	%
#	JB Hi-Fi, Ltd.	962,791		16,902,328	0.9	%
	Link Administration Holdings, Ltd.	1,477,619		9,330,538	0.5	%
#	Metcash, Ltd.	5,204,963		10,752,406	0.6	%
	Mineral Resources, Ltd.	1,168,088		15,587,838	0.9	%
#	Monadelphous Group, Ltd.	813,595		10,577,940	0.6	%
	nib holdings, Ltd.	2,841,283		13,723,457	0.8	%
	Northern Star Resources, Ltd.	4,806,957		19,116,115	1.1	%
	Nufarm, Ltd.	1,407,770		9,406,021	0.5	%
	Orora, Ltd.	5,866,371		15,297,175	0.8	%
	OZ Minerals, Ltd.	2,198,276		13,574,508	0.7	%
#	Perpetual, Ltd.	356,426		13,246,567	0.7	%
	Sims Metal Management, Ltd.	1,382,214		14,015,094	0.8	%
	Spark Infrastructure Group	9,691,872		18,867,222	1.0	%
	Tabcorp Holdings, Ltd.	4,718,586		16,235,426	0.9	%
#	Vocus Group, Ltd.	4,330,071		9,564,561	0.5	%
#*	Whitehaven Coal, Ltd.	4,143,411		11,842,782	0.7	%
*	WorleyParsons, Ltd.	1,194,746		12,850,207	0.7	%
	Other Securities			519,117,725	28.4	%
TOTAL AUSTRALIA				971,904,786	53.5	%
CHINA — (0.1%)
	Other Securities			1,037,587	0.1	%
HONG KONG — (24.1%)
	Dah Sing Financial Holdings, Ltd.	1,483,344		9,968,172	0.6	%
#*	Esprit Holdings, Ltd.	14,828,050		8,972,221	0.5	%
	Hopewell Holdings, Ltd.	3,366,000		12,946,497	0.7	%
#	IGG, Inc.	7,041,000		9,453,202	0.5	%
	Johnson Electric Holdings, Ltd.	2,358,750		9,516,625	0.5	%
	Luk Fook Holdings International, Ltd.	3,243,000		13,718,512	0.8	%
	Man Wah Holdings, Ltd.	11,957,600		10,803,091	0.6	%
	NagaCorp, Ltd.	11,248,000		9,087,661	0.5	%

126

THE ASIA PACIFIC SMALL COMPANY SERIES
CONTINUED

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	Orient Overseas International, Ltd.	1,483,500	$	14,287,148	0.8	%
	Vitasoy International Holdings, Ltd.	5,557,000		12,849,073	0.7	%
	VTech Holdings, Ltd.	820,400		11,663,361	0.7	%
	Xinyi Glass Holdings, Ltd.	13,352,000		12,938,386	0.7	%
	Other Securities			359,743,544	19.7	%
TOTAL HONG KONG				495,947,493	27.3	%
NEW ZEALAND — (6.0%)
*	a2 Milk Co., Ltd.	1,860,803		11,047,609	0.6	%
#	Mainfreight, Ltd.	536,356		8,978,181	0.5	%
	SKYCITY Entertainment Group, Ltd.	5,461,701		14,539,711	0.8	%
	Other Securities			88,218,204	4.9	%
TOTAL NEW ZEALAND				122,783,705	6.8	%
SINGAPORE — (10.1%)
#	Singapore Post, Ltd.	10,457,500		9,858,175	0.6	%
	Venture Corp., Ltd.	1,597,200		22,831,474	1.3	%
	Other Securities			176,269,027	9.6	%
TOTAL SINGAPORE				208,958,676	11.5	%
UNITED KINGDOM — (0.0%)
	Other Securities			73,767	0.0	%
TOTAL COMMON STOCKS				1,800,706,014	99.2	%
RIGHTS/WARRANTS — (0.0%)
AUSTRALIA — (0.0%)
	Other Securities			431,607	0.0	%
HONG KONG — (0.0%)
	Other Securities			4,043	0.0	%
NEW ZEALAND — (0.0%)
	Other Securities			1,010	0.0	%
TOTAL RIGHTS/WARRANTS				436,660	0.0	%
TOTAL INVESTMENT SECURITIES				1,801,142,674
			Value†
SECURITIES LENDING COLLATERAL — (12.5%)
§@	DFA Short Term Investment Fund	22,292,852		257,950,593	14.2	%
TOTAL INVESTMENTS — (100.0%) (Cost $1,978,371,714)			$	2,059,093,267	113.4	%

127

THE ASIA PACIFIC SMALL COMPANY SERIES
CONTINUED

Summary of the Series’ investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in
	Securities
	(Market Value)
	Level 1		Level 2		Level 3	Total
Common Stocks
Australia	$	—	$	971,904,786	—	$	971,904,786
China		—		1,037,587	—		1,037,587
Hong Kong		573,686		495,373,807	—		495,947,493
New Zealand		—		122,783,705	—		122,783,705
Singapore		—		208,958,676	—		208,958,676
United Kingdom		73,767		—	—		73,767
Rights/Warrants
Australia		—		431,607	—		431,607
Hong Kong		—		4,043	—		4,043
New Zealand		—		1,010	—		1,010
Securities Lending Collateral		—		257,950,593	—		257,950,593
TOTAL	$	647,453	$	2,058,445,814	—	$	2,059,093,267

See accompanying Notes to Financial Statements.
128

THE UNITED KINGDOM SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2017

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (97.7%)
Consumer Discretionary — (20.8%)
	B&M European Value Retail SA	3,556,127	$	18,764,210	0.8	%
	Bellway P.L.C.	662,602		32,126,797	1.4	%
	GVC Holdings P.L.C.	1,474,855		18,364,234	0.8	%
	Inchcape P.L.C.	2,337,053		24,258,271	1.0	%
	SSP Group P.L.C.	2,150,632		16,701,979	0.7	%
	UBM P.L.C.	2,150,381		20,089,069	0.9	%
	WH Smith P.L.C.	660,318		17,952,522	0.8	%
	William Hill P.L.C.	4,390,122		15,064,779	0.6	%
	Other Securities			329,733,378	14.2	%
Total Consumer Discretionary				493,055,239	21.2	%
Consumer Staples — (4.8%)
	Booker Group P.L.C.	8,370,700		22,363,754	1.0	%
	Tate & Lyle P.L.C.	2,718,312		23,351,051	1.0	%
	Other Securities			68,237,724	2.9	%
Total Consumer Staples				113,952,529	4.9	%
Energy — (4.2%)
	John Wood Group P.L.C.	3,479,405		32,900,578	1.4	%
#*	Tullow Oil P.L.C.	7,033,116		17,017,662	0.7	%
	Other Securities			48,239,755	2.1	%
Total Energy				98,157,995	4.2	%
Financials — (14.8%)
	Beazley P.L.C.	2,911,016		19,527,655	0.8	%
	Close Brothers Group P.L.C.	842,028		15,529,712	0.7	%
	Hiscox, Ltd.	1,547,072		29,336,860	1.3	%
	IG Group Holdings P.L.C.	1,926,366		16,715,603	0.7	%
	Intermediate Capital Group P.L.C.	1,606,829		20,747,945	0.9	%
	Jupiter Fund Management P.L.C.	2,283,894		18,021,025	0.8	%
	Man Group P.L.C.	9,157,327		23,548,762	1.0	%
	Phoenix Group Holdings	2,000,670		20,109,594	0.9	%
	TP ICAP P.L.C.	2,829,016		20,454,412	0.9	%
	Other Securities			166,813,983	7.0	%
Total Financials				350,805,551	15.0	%
Health Care — (3.8%)
*	BTG P.L.C.	1,883,903		18,858,989	0.8	%
*	Indivior P.L.C.	3,837,838		18,938,519	0.8	%
	UDG Healthcare P.L.C.	1,295,217		15,903,433	0.7	%
	Other Securities			36,656,028	1.6	%
Total Health Care				90,356,969	3.9	%

129

THE UNITED KINGDOM SMALL COMPANY SERIES
CONTINUED

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (25.8%)
	Aggreko P.L.C.	1,334,788	$	16,611,140	0.7	%
	BBA Aviation P.L.C.	5,990,848		25,309,196	1.1	%
*	Cobham P.L.C.	12,408,518		22,901,572	1.0	%
	Hays P.L.C.	8,341,552		20,648,960	0.9	%
	HomeServe P.L.C.	1,383,521		15,731,024	0.7	%
	Howden Joinery Group P.L.C.	3,763,658		20,496,619	0.9	%
	IMI P.L.C.	1,368,653		22,207,186	1.0	%
	Meggitt P.L.C.	3,799,091		26,153,041	1.1	%
	Melrose Industries P.L.C.	9,415,164		27,500,308	1.2	%
	Rentokil Initial P.L.C.	4,056,594		18,089,762	0.8	%
	Spirax-Sarco Engineering P.L.C.	367,759		27,595,228	1.2	%
	Travis Perkins P.L.C.	853,860		17,236,813	0.7	%
	Weir Group P.L.C. (The)	633,437		16,421,638	0.7	%
	Other Securities			335,262,817	14.3	%
Total Industrials				612,165,304	26.3	%
Information Technology — (10.9%)
	Auto Trader Group P.L.C.	3,741,417		17,013,390	0.7	%
	Electrocomponents P.L.C.	2,762,938		25,482,641	1.1	%
	Halma P.L.C.	1,908,645		29,948,327	1.3	%
*	Paysafe Group P.L.C.	2,424,051		18,868,212	0.8	%
	Playtech P.L.C.	1,462,260		19,106,906	0.8	%
	Rightmove P.L.C.	468,485		25,845,606	1.1	%
	Spectris P.L.C.	701,125		23,837,173	1.0	%
	Other Securities			98,875,117	4.3	%
Total Information Technology				258,977,372	11.1	%
Materials — (7.4%)
	DS Smith P.L.C.	3,354,420		23,198,985	1.0	%
*	KAZ Minerals P.L.C.	1,433,524		15,478,418	0.7	%
	RPC Group P.L.C.	2,253,573		28,202,447	1.2	%
	Victrex P.L.C.	482,843		15,374,148	0.7	%
	Other Securities			93,920,109	4.0	%
Total Materials				176,174,107	7.6	%
Real Estate — (2.3%)
	Other Securities			54,350,850	2.3	%
Telecommunication Services — (1.3%)
	Inmarsat P.L.C.	2,371,810		19,563,902	0.9	%
	Other Securities			12,151,612	0.5	%
Total Telecommunication Services				31,715,514	1.4	%

130

The United Kingdom Small Company Series
continued

				Percentage
	Shares	Value††		of Net Assets**
Utilities — (1.6%)
Pennon Group P.L.C.	2,236,812	$	23,590,729	1.0	%
Other Securities			13,858,087	0.6	%
Total Utilities			37,448,816	1.6	%
TOTAL COMMON STOCKS			2,317,160,246	99.5	%
TOTAL INVESTMENT SECURITIES			2,317,160,246
		Value†
SECURITIES LENDING COLLATERAL — (2.3%)
§@DFA Short Term Investment Fund	4,640,939		53,700,300	2.3	%
TOTAL INVESTMENTS — (100.0%) (Cost $1,951,561,258)		$	2,370,860,546	101.8	%

131

The United Kingdom Small Company Series
continued

Summary of the Series’ investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in
	Securities
	(Market Value)
	Level 1	Level 2		Level 3	Total
Common Stocks
Consumer Discretionary	—	$	493,055,239	—	$	493,055,239
Consumer Staples	—		113,952,529	—		113,952,529
Energy	—		98,157,995	—		98,157,995
Financials	—		350,805,551	—		350,805,551
Health Care	—		90,356,969	—		90,356,969
Industrials	—		612,165,304	—		612,165,304
Information Technology	—		258,977,372	—		258,977,372
Materials	—		176,174,107	—		176,174,107
Real Estate	—		54,350,850	—		54,350,850
Telecommunication Services	—		31,715,514	—		31,715,514
Utilities	—		37,448,816	—		37,448,816
Securities Lending Collateral	—		53,700,300	—		53,700,300
TOTAL	—	$	2,370,860,546	—	$	2,370,860,546

See accompanying Notes to Financial Statements.
132

THE CONTINENTAL SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2017

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (91.6%)
AUSTRIA — (3.2%)
	ANDRITZ AG	351,021	$	19,848,846	0.4	%
	Other Securities			177,396,677	3.0	%
TOTAL AUSTRIA				197,245,523	3.4	%
BELGIUM — (4.2%)
	Ackermans & van Haaren NV	134,719		23,072,545	0.4	%
*	Galapagos NV	220,186		21,413,464	0.4	%
	Umicore SA	703,600		31,444,010	0.6	%
	Other Securities			183,087,877	3.1	%
TOTAL BELGIUM				259,017,896	4.5	%
DENMARK — (4.8%)
	GN Store Nord A.S.	855,243		28,303,028	0.5	%
	Jyske Bank A.S.	434,014		24,525,321	0.4	%
	TDC A.S.	5,173,971		30,589,544	0.5	%
*	Topdanmark A.S.	491,266		20,195,323	0.4	%
	Other Securities			192,193,095	3.3	%
TOTAL DENMARK				295,806,311	5.1	%
FINLAND — (6.0%)
	Elisa Oyj	674,321		27,152,966	0.5	%
	Huhtamaki Oyj	574,099		24,453,639	0.4	%
	Metso Oyj	654,668		23,776,410	0.4	%
	Nokian Renkaat Oyj	659,051		30,215,607	0.5	%
	Outokumpu Oyj	2,921,503		27,616,847	0.5	%
	Other Securities			238,617,463	4.2	%
TOTAL FINLAND				371,832,932	6.5	%
FRANCE — (12.9%)
#	Edenred	1,222,953		35,256,073	0.6	%
	Faurecia	306,467		22,278,725	0.4	%
	Groupe Eurotunnel SE	1,656,217		20,813,393	0.4	%
#	Ingenico Group SA	301,300		29,258,749	0.5	%
	Lagardere SCA	673,857		22,190,928	0.4	%
	Orpea	178,098		21,337,715	0.4	%
	Rexel SA	1,596,995		28,477,648	0.5	%
#	Rubis SCA	466,180		29,254,014	0.5	%
	Teleperformance	253,057		36,957,477	0.7	%
*	Ubisoft Entertainment SA	521,852		39,817,112	0.7	%
	Other Securities			512,562,878	8.8	%
TOTAL FRANCE				798,204,712	13.9	%

133

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (14.8%)
	Duerr AG	143,919	$	19,916,912	0.4	%
*	Evotec AG	1,078,504		22,950,178	0.4	%
	Freenet AG	763,964		25,583,539	0.5	%
#	Hugo Boss AG	314,787		28,154,350	0.5	%
#	K+S AG	1,020,067		24,799,642	0.4	%
	Lanxess AG	471,353		36,958,137	0.6	%
	LEG Immobilien AG	331,263		33,743,929	0.6	%
	MTU Aero Engines AG	144,099		24,384,649	0.4	%
	OSRAM Licht AG	280,364		21,467,400	0.4	%
#	QIAGEN NV	701,160		23,788,035	0.4	%
	Rheinmetall AG	234,011		27,793,104	0.5	%
	Other Securities			629,683,762	10.9	%
TOTAL GERMANY				919,223,637	16.0	%
HONG KONG — (0.1%)
	Other Securities			3,147,046	0.1	%
IRELAND — (1.2%)
	Kingspan Group P.L.C.	734,997		30,725,971	0.5	%
	Other Securities			46,011,856	0.8	%
TOTAL IRELAND				76,737,827	1.3	%
ISRAEL — (2.5%)
	Other Securities			153,649,964	2.7	%
ITALY — (10.2%)
#*	Banco BPM SpA	9,344,575		32,536,729	0.6	%
	FinecoBank Banca Fineco SpA	2,170,080		20,296,722	0.4	%
	Moncler SpA	730,401		20,735,047	0.4	%
	Prysmian SpA	907,443		31,224,581	0.6	%
#	Unione di Banche Italiane SpA	6,512,755		30,567,169	0.5	%
	Other Securities			498,381,755	8.5	%
TOTAL ITALY				633,742,003	11.0	%
NETHERLANDS — (5.7%)
	Aalberts Industries NV	633,462		31,236,489	0.6	%
	ASM International NV	339,707		22,765,126	0.4	%
	Boskalis Westminster	594,181		21,239,893	0.4	%
	SBM Offshore NV	1,217,053		21,719,672	0.4	%
	Other Securities			257,243,164	4.3	%
TOTAL NETHERLANDS				354,204,344	6.1	%
NORWAY — (2.2%)
	Other Securities			138,286,028	2.4	%
PORTUGAL — (1.1%)
	Other Securities			67,632,440	1.2	%
SPAIN — (5.2%)
	Cellnex Telecom SA	909,420		22,573,590	0.4	%
	Other Securities			298,606,877	5.2	%
TOTAL SPAIN				321,180,467	5.6	%

134

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWEDEN — (6.9%)
	Other Securities		$	429,210,166	7.5	%
SWITZERLAND — (10.6%)
#	ams AG	316,689		28,893,663	0.5	%
	Georg Fischer AG	24,221		29,841,965	0.5	%
	Helvetia Holding AG	37,722		20,278,728	0.4	%
	Logitech International SA	744,066		26,607,319	0.5	%
	Temenos Group AG	307,521		35,509,903	0.6	%
	Other Securities			515,114,990	8.9	%
TOTAL SWITZERLAND				656,246,568	11.4	%
TOTAL COMMON STOCKS				5,675,367,864	98.7	%
PREFERRED STOCKS — (0.8%)
GERMANY — (0.8%)
	Other Securities			46,412,310	0.8	%
TOTAL PREFERRED STOCKS				46,412,310	0.8	%
RIGHTS/WARRANTS — (0.0%)
FRANCE — (0.0%)
	Other Securities			2,585	0.0	%
ISRAEL — (0.0%)
	Other Securities			10	0.0	%
SPAIN — (0.0%)
	Other Securities			978,996	0.0	%
SWITZERLAND — (0.0%)
	Other Securities			105,912	0.0	%
TOTAL RIGHTS/WARRANTS				1,087,503	0.0	%
TOTAL INVESTMENT SECURITIES				5,722,867,677
			Value†
SECURITIES LENDING COLLATERAL — (7.6%)
§@	DFA Short Term Investment Fund	40,695,303		470,885,347	8.2	%
TOTAL INVESTMENTS — (100.0%) (Cost $4,482,764,364)			$	6,193,753,024	107.7	%

135

The Continental Small Company Series
continued

Summary of the Series’ investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in
	Securities
	(Market Value)
	Level 1		Level 2		Level 3	Total
Common Stocks
Austria	$	—	$	197,245,523	—	$	197,245,523
Belgium		2,677,761		256,340,135	—		259,017,896
Denmark		8,784,672		287,021,639	—		295,806,311
Finland		—		371,832,932	—		371,832,932
France		32,312		798,172,400	—		798,204,712
Germany		—		919,223,637	—		919,223,637
Hong Kong		—		3,147,046	—		3,147,046
Ireland		—		76,737,827	—		76,737,827
Israel		—		153,649,964	—		153,649,964
Italy		109,325		633,632,678	—		633,742,003
Netherlands		—		354,204,344	—		354,204,344
Norway		—		138,286,028	—		138,286,028
Portugal		—		67,632,440	—		67,632,440
Spain		—		321,180,467	—		321,180,467
Sweden		24,911		429,185,255	—		429,210,166
Switzerland		—		656,246,568	—		656,246,568
Preferred Stocks
Germany		—		46,412,310	—		46,412,310
Rights/Warrants
France		—		2,585	—		2,585
Israel		—		10	—		10
Spain		—		978,996	—		978,996
Switzerland		—		105,912	—		105,912
Securities Lending Collateral		—		470,885,347	—		470,885,347
TOTAL	$	11,628,981	$	6,182,124,043	—	$	6,193,753,024

See accompanying Notes to Financial Statements.
136

THE CANADIAN SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2017

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (84.8%)
Consumer Discretionary — (7.6%)
#	Cineplex, Inc.	293,783	$	8,885,678	0.7	%
	Enercare, Inc.	592,559		9,236,774	0.8	%
*	Great Canadian Gaming Corp.	333,138		7,917,224	0.7	%
#*	Stars Group, Inc. (The)	545,738		10,985,827	0.9	%
	Other Securities			69,811,273	5.9	%
Total Consumer Discretionary				106,836,776	9.0	%
Consumer Staples — (4.2%)
	Cott Corp.	845,649		12,677,197	1.1	%
	Jean Coutu Group PJC, Inc. (The) Class A	416,076		7,895,156	0.7	%
	North West Co., Inc. (The)	316,536		7,723,861	0.6	%
	Premium Brands Holdings Corp.	150,162		12,151,703	1.0	%
	Other Securities			18,290,744	1.5	%
Total Consumer Staples				58,738,661	4.9	%
Energy — (18.4%)
	Enerflex, Ltd.	567,158		7,715,389	0.7	%
	Enerplus Corp.	1,353,175		12,408,387	1.0	%
	Gibson Energy, Inc.	757,539		10,299,383	0.9	%
*	NuVista Energy, Ltd.	1,310,626		8,147,601	0.7	%
#*	Paramount Resources, Ltd. Class A	498,213		8,526,895	0.7	%
*	Parex Resources, Inc.	826,302		10,990,886	0.9	%
	Parkland Fuel Corp.	542,825		11,023,963	0.9	%
	Pembina Pipeline Corp.	448,593		14,830,223	1.2	%
#	Whitecap Resources, Inc.	1,837,501		13,189,101	1.1	%
	Other Securities			160,468,709	13.5	%
Total Energy				257,600,537	21.6	%
Financials — (6.5%)
	#Canadian Western Bank	528,680		14,892,048	1.2	%
	#Genworth MI Canada, Inc.	322,580		10,024,209	0.8	%
	#Laurentian Bank of Canada	221,346		10,294,365	0.9	%
	TMX Group, Ltd.	218,158		11,919,973	1.0	%
	Other Securities			43,967,142	3.8	%
Total Financials				91,097,737	7.7	%
Health Care — (1.4%)
	Other Securities			18,694,077	1.6	%
Industrials — (10.7%)
	Maxar Technologies, Ltd.	184,072		11,644,148	1.0	%
	New Flyer Industries, Inc.	253,571		10,759,225	0.9	%
	Russel Metals, Inc.	356,806		7,976,347	0.7	%
#	Stantec, Inc.	522,729		14,935,114	1.3	%
	TFI International, Inc.	475,353		11,473,911	1.0	%

137

THE CANADIAN SMALL COMPANY SERIES
CONTINUED

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (continued)
	Toromont Industries, Ltd.	425,013	$	18,735,361	1.6	%
	Transcontinental, Inc. Class A	366,376		8,133,485	0.7	%
	Other Securities			66,087,239	5.4	%
Total Industrials				149,744,830	12.6	%
	Information Technology — (3.8%)
*	Descartes Systems Group, Inc. (The)	393,056		11,394,694	1.0	%
	Other Securities			42,132,447	3.5	%
Total Information Technology				53,527,141	4.5	%
Materials — (24.6%)
	Alamos Gold, Inc. Class A	1,820,687		11,530,125	1.0	%
*	B2Gold Corp.	5,370,434		13,653,999	1.1	%
*	Canfor Corp.	502,970		10,004,039	0.8	%
*	Centerra Gold, Inc.	1,552,135		10,539,264	0.9	%
*	Detour Gold Corp.	965,461		10,289,969	0.9	%
	Dominion Diamond Corp.	554,107		7,885,749	0.7	%
	HudBay Minerals, Inc.	1,477,086		10,979,966	0.9	%
*	IAMGOLD Corp.	3,203,040		17,578,113	1.5	%
	Kirkland Lake Gold, Ltd.	913,033		10,707,844	0.9	%
*	New Gold, Inc.	3,504,251		11,598,443	1.0	%
#	OceanaGold Corp.	3,671,560		9,846,987	0.8	%
#	Osisko Gold Royalties, Ltd.	739,341		9,306,945	0.8	%
	Pan American Silver Corp.	847,173		13,842,653	1.2	%
	Stella-Jones, Inc.	241,271		9,425,671	0.8	%
	Yamana Gold, Inc.	4,803,883		12,474,233	1.1	%
	Other Securities			174,581,152	14.5	%
Total Materials				344,245,152	28.9	%
Real Estate — (2.8%)
	Colliers International Group, Inc.	174,095		10,203,335	0.9	%
	FirstService Corp.	177,734		12,372,909	1.0	%
	Other Securities			16,673,204	1.4	%
Total Real Estate				39,249,448	3.3	%
Utilities — (4.8%)
#	Capital Power Corp.	550,609		10,426,616	0.9	%
#	Northland Power, Inc.	562,788		10,761,941	0.9	%
#	Superior Plus Corp.	849,685		8,555,467	0.7	%
	TransAlta Corp.	1,716,509		10,151,898	0.8	%
	Other Securities			27,790,664	2.4	%
Total Utilities				67,686,586	5.7	%
TOTAL COMMON STOCKS				1,187,420,945	99.8	%
TOTAL INVESTMENT SECURITIES				1,187,420,945
			Value†
SECURITIES LENDING COLLATERAL — (15.2%)
§@	DFA Short Term Investment Fund	18,401,076		212,918,854	17.9	%
TOTAL INVESTMENTS — (100.0%) (Cost $1,494,062,372)			$	1,400,339,799	117.7	%

138

THE CANADIAN SMALL COMPANY SERIES
CONTINUED

Summary of the Series’ investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in
	Securities
	(Market Value)
	Level 1		Level 2		Level 3	Total
Common Stocks
Consumer Discretionary	$	106,829,755	$	7,021	—	$	106,836,776
Consumer Staples		58,738,661		—	—		58,738,661
Energy		257,600,528		9	—		257,600,537
Financials		91,097,737		—	—		91,097,737
Health Care		18,487,331		206,746	—		18,694,077
Industrials		149,744,830		—	—		149,744,830
Information Technology		53,527,141		—	—		53,527,141
Materials		344,243,948		1,204	—		344,245,152
Real Estate		39,249,448		—	—		39,249,448
Utilities		67,686,586		—	—		67,686,586
Securities Lending Collateral		—		212,918,854	—		212,918,854
TOTAL	$	1,187,205,965	$	213,133,834	—	$	1,400,339,799

See accompanying Notes to Financial Statements.
139

THE DFA INVESTMENT TRUST COMPANY

STATEMENTS OF ASSETS AND LIABILITIES

DECEMBER 31, 2017
(Unaudited)

(Amounts in thousands)

	The		The		The United		The		The
	Japanese		Asia Pacific		Kingdom		Continental		Canadian
	Small		Small		Small		Small		Small
	Company		Company		Company		Company		Company
	Series*		Series*		Series*		Series*		Series*
ASSETS:
Investments at Value (including $390,734, $282,545,
$50,801, $449,175 and $202,843 of securities on
loan, respectively)	$	4,143,026	$	1,914,561	$	2,378,272	$	5,951,999	$	1,229,706
Collateral from Securities on Loan Invested in Affiliate at
Value (including cost of $373,695, $215,322, $91,289,
$569,313 and $222,695)		373,629		215,288		91,285		569,248		222,691
Foreign Currencies at Value		9,504		270		2,044		3,251		713
Cash		22,292		10,123		4,465		23,582		2,901
Receivables:
Investment Securities Sold		3,649		2,226		19,567		408		543
Dividends, Interest and Tax Reclaims		4,037		1,450		5,571		8,899		2,430
Securities Lending Income		1,062		521		145		1,226		465
Unrealized Gain on Foreign Currency Contracts		2		4		—		4		—
Prepaid Expenses and Other Assets		1		—		—		—		—
Total Assets		4,557,202		2,144,443		2,501,349		6,558,617		1,459,449
LIABILITIES:
Payables:
Upon Return of Securities Loaned		373,633		215,284		91,290		569,330		222,676
Investment Securities Purchased		23,590		8,335		2,266		11,681		1,879
Due to Advisor		347		158		198		496		101
Unrealized Loss on Foreign Currency Contracts		—		—		—		—		2
Accrued Expenses and Other Liabilities		384		189		174		588		109
Total Liabilities		397,954		223,966		93,928		582,095		224,767
NET ASSETS	$	4,159,248	$	1,920,477	$	2,407,421	$	5,976,522	$	1,234,682
Investments at Cost	$	2,944,455	$	1,754,865	$	1,897,092	$	4,145,964	$	1,281,098
Foreign Currencies at Cost	$	9,456	$	270	$	2,027	$	3,218	$	715

____________________

* The Series received non-cash collateral consisting of short and/or long term U.S. Treasury securities with a market value of $23,329, $48,604, $0, $68,257 and $1,714, respectively.

See accompanying Notes to Financial Statements.
140

THE DFA INVESTMENT TRUST COMPANY

STATEMENTS OF ASSETS AND LIABILITIES

OCTOBER 31, 2017

(Amounts in thousands)

	The		The		The United		The		The
	Japanese		Asia Pacific		Kingdom		Continental		Canadian
	Small		Small		Small		Small		Small
	Company		Company		Company		Company		Company
	Series*		Series*		Series		Series*		Series*
ASSETS:
Investments at Value (including $390,734, $282,545,
$50,801, $449,175 and $202,843 of securities on
loan, respectively)	$	3,955,538	$	1,801,143	$	2,317,160	$	5,722,868	$	1,187,421
Collateral from Securities on Loan Invested in Affiliate at
Value (including cost of $399,455, $257,992, $53,698,
$470,951 and $212,911)		399,385		257,951		53,700		470,885		212,919
Foreign Currencies at Value		3,373		12,033		1,567		545		326
Cash		5,475		5,737		5,346		23,509		2,172
Receivables:
Investment Securities Sold		9,285		1,407		3,691		6,287		710
Dividends, Interest and Tax Reclaims		20,385		1,336		6,292		8,794		666
Securities Lending Income		1,101		520		162		1,142		577
Unrealized Gain on Foreign Currency Contracts		—		—		—		3		—
Total Assets		4,394,542		2,080,127		2,387,918		6,234,033		1,404,791
LIABILITIES:
Payables:
Upon Return of Securities Loaned		399,359		257,926		53,695		470,911		212,885
Investment Securities Purchased		5,562		6,220		3,978		11,196		1,498
Due to Advisor		330		152		195		488		103
Accrued Expenses and Other Liabilities		242		124		138		379		83
Total Liabilities		405,493		264,422		58,006		482,974		214,569
NET ASSETS	$	3,989,049	$	1,815,705	$	2,329,912	$	5,751,059	$	1,190,222
Investments at Cost	$	2,914,836	$	1,720,380	$	1,897,863	$	4,011,813	$	1,281,151
Foreign Currencies at Cost	$	3,377	$	12,068	$	1,563	$	546	$	329

____________________

* See Note J in the Notes to Financial Statements for additional securities lending collateral.

See accompanying Notes to Financial Statements.
141

THE DFA INVESTMENT TRUST COMPANY

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED OCTOBER 31, 2017

(Amounts in thousands)

	The			The Asia			The United			The			The
	Japanese			Pacific			Kingdom			Continental			Canadian
	Small			Small			Small			Small			Small
	Company			Company			Company			Company			Company
	Series#			Series#			Series#			Series#			Series#
Investment Income
Dividends (Net of Foreign Taxes Withheld of
$6,690, $1,082, $74, $16,318 and $3,604, respectively)	$	60,907		$	54,721		$	59,839		$	106,902		$	20,545
Non Cash Income		—			5,065			9,789			—			—
Income from Securities Lending		8,951			5,373			1,338			14,125			5,521
Total Investment Income		69,858			65,159			70,966			121,027			26,066
Expenses
Investment Management Fees		3,441			1,650			2,020			4,928			1,157
Accounting & Transfer Agent Fees		157			84			94			229			52
Custodian Fees		583			302			110			840			96
Directors’/Trustees’ Fees & Expenses		33			16			19			46			11
Professional Fees		60			29			35			102			19
Other		116			58			61			151			39
Total Expenses		4,390			2,139			2,339			6,296			1,374
Fees Paid Indirectly (Note C)		(61	)		(25	)		(57	)		(142	)		(46	)
Net Expenses		4,329			2,114			2,282			6,154			1,328
Net Investment Income (Loss)		65,529			63,045			68,684			114,873			24,738
Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) on:
Investment Securities Sold**		174,661			57,205			68,209			217,209			(39,064	)
Affiliated Investment Companies Shares Sold		70			63			2			32			21
Foreign Currency Transactions		(2,843	)		(697	)		330			992			(26	)
Change in Unrealized Appreciation (Depreciation) of:
Investment Securities and Foreign Currency		616,328			131,297			383,963			1,106,864			137,860
Affiliated Investment Companies Shares		(116	)		(85	)		(8	)		(119	)		(28	)
Translation of Foreign Currency Denominated Amounts		489			(7	)		206			303			(7	)
Net Realized and Unrealized Gain (Loss)		788,589			187,776			452,702			1,325,281			98,756
Net Increase (Decrease) in Net Assets
Resulting from Operations	$	854,118		$	250,821		$	521,386		$	1,440,154		$	123,494

____________________

**	Net of foreign capital gain taxes withheld of $0, $0, $0, $0 and $0, respectively.
#	Portion of income is from investment in affiliated fund.

See accompanying Notes to Financial Statements.
142

THE DFA INVESTMENT TRUST COMPANY

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)

	The Japanese Small
	Company Series
	Year			Year
	Ended			Ended
	Oct. 31,			Oct. 31,
	2017			2016
Increase (Decrease) in Net Assets
Operations:
Net Investment Income (Loss)	$	65,529		$	54,226
Net Realized Gain (Loss) on:
Investment Securities Sold*		174,661			122,152
Affiliated Investment Companies Shares Sold		70			—
Foreign Currency Transactions		(2,843	)		2,170
Forward Currency Contracts		—			(36	)
Change in Unrealized Appreciation (Depreciation) of:
Investment Securities and Foreign Currency		616,328			214,787
Affiliated Investment Companies Shares		(116	)		—
Translation of Foreign Currency Denominated Amounts		489			(688	)
Net Increase (Decrease) in Net Assets Resulting from Operations		854,118			392,611
Transactions in Interest:
Contributions		195,960			224,138
Withdrawals		(193,623	)		(115,843	)
Net Increase (Decrease) from Transactions in Interest		2,337			108,295
Total Increase (Decrease) in Net Assets		856,455			500,906
Net Assets
Beginning of Year		3,132,594			2,631,688
End of Year	$	3,989,049		$	3,132,594

____________________

*      Net of foreign capital gain taxes withheld of $0 and $0, respectively.

See accompanying Notes to Financial Statements.
143

THE DFA INVESTMENT TRUST COMPANY

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)

	The Asia Pacific Small						The United Kingdom Small						The Continental Small						The Canadian Small
	Company Series						Company Series						Company Series						Company Series
	Year			Year			Year			Year			Year			Year			Year			Year
	Ended			Ended			Ended			Ended			Ended			Ended			Ended			Ended
	Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,
	2017			2016			2017			2016			2017			2016			2017			2016
Increase (Decrease) in Net Assets
Operations:
Net Investment Income (Loss)	$	63,045		$	55,379		$	68,684		$	79,465		$	114,873		$	98,312		$	24,738		$	18,822
Net Realized Gain (Loss) on:
Investment Securities Sold*		57,205			(8,246	)		68,209			71,244			217,209			122,507			(39,064	)		(24,152	)
Affiliated Investment
Companies Shares Sold		63			—			2			—			32			—			21			—
Futures		—			—			—			—			—			687			—			—
Foreign Currency Transactions		(697	)		309			330			(1,277	)		992			(394	)		(26	)		229
Forward Currency Contracts		—			(18	)		—			—			—			(5	)		—			—
Change in Unrealized Appreciation
(Depreciation) of:
Investment Securities and
Foreign Currency		131,297			168,801			383,963			(469,059	)		1,106,864			27,064			137,860			135,836
Affiliated Investment
Companies Shares		(85	)		—			(8	)		—			(119	)		—			(28	)		—
Futures		—			—			—			—			—			19			—			—
Translation of Foreign Currency
Denominated Amounts		(7	)		22			206			(215	)		303			(32	)		(7	)		(6	)
Net Increase (Decrease) in
Net Assets Resulting
from Operations		250,821			216,247			521,386			(319,842	)		1,440,154			248,158			123,494			130,729
Transactions in Interest:
Contributions		110,964			137,711			158,197			112,811			303,976			441,553			269,073			187,903
Withdrawals		(101,816	)		(26,496	)		(33,136	)		(193,617	)		(140,996	)		(195,529	)		(135,609	)		(8,500	)
Net Increase (Decrease) from
Transactions in Interest		9,148			111,215			125,061			(80,806	)		162,980			246,024			133,464			179,403
Total Increase (Decrease) in
Net Assets		259,969			327,462			646,447			(400,648	)		1,603,134			494,182			256,958			310,132
Net Assets
Beginning of Year		1,555,736			1,228,274			1,683,465			2,084,113			4,147,925			3,653,743			933,264			623,132
End of Year	$	1,815,705		$	1,555,736		$	2,329,912		$	1,683,465		$	5,751,059		$	4,147,925		$	1,190,222		$	933,264

____________________

*     Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $0, $0, $0 and $0, respectively.

See accompanying Notes to Financial Statements.
144

THE DFA INVESTMENT TRUST COMPANY

FINANCIAL HIGHLIGHTS

	The Japanese Small Company Series															The Asia Pacific Small Company Series
	Year			Year			Year			Year			Year			Year			Year			Year			Year			Year
	Ended			Ended			Ended			Ended			Ended			Ended			Ended			Ended			Ended			Ended
	Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,
	2017			2016			2015			2014			2013			2017			2016			2015			2014			2013
Total Return		27.10	%		14.53	%		9.04	%		2.46	%		30.62	%		16.21	%		16.69	%		(11.83	)%		(3.46	)%		10.97	%
Net Assets, End of Year (thousands)	$	3,989,049		$	3,132,594		$	2,631,688		$	2,505,409		$	2,281,624		$	1,815,705		$	1,555,736		$	1,228,274		$	1,453,786		$	1,265,498
Ratio of Expenses to Average
Net Assets		0.13	%		0.13	%		0.13	%		0.13	%		0.14	%		0.13	%		0.13	%		0.13	%		0.13	%		0.15	%
Ratio of Expenses to Average
Net Assets (Excluding Fees
Paid Indirectly)		0.13	%		0.13	%		0.13	%		0.13	%		0.14	%		0.13	%		0.13	%		0.13	%		0.13	%		0.15	%
Ratio of Net Investment Income to
Average Net Assets		1.90	%		1.99	%		1.69	%		1.71	%		1.87	%		3.82	%		4.00	%		4.17	%		3.96	%		4.64	%
Portfolio Turnover Rate		13	%		10	%		6	%		9	%		16	%		14	%		10	%		7	%		7	%		9	%
	The United Kingdom Small Company Series															The Continental Small Company Series
	Year			Year			Year			Year			Year			Year			Year			Year			Year			Year
	Ended			Ended			Ended			Ended			Ended			Ended			Ended			Ended			Ended			Ended
	Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,
	2017			2016			2015			2014			2013			2017			2016			2015			2014			2013
Total Return		29.87	%		(15.82	)%		9.95	%		1.22	%		37.42	%		34.27	%		6.10	%		9.81	%		(2.25	)%		43.67	%
Net Assets, End of Year (thousands)	$	2,329,912		$	1,683,465		$	2,084,113		$	1,995,898		$	1,988,287		$	5,751,059		$	4,147,925		$	3,653,743		$	3,152,277		$	3,217,766
Ratio of Expenses to Average
Net Assets		0.12	%		0.12	%		0.11	%		0.11	%		0.12	%		0.13	%		0.13	%		0.13	%		0.13	%		0.14	%
Ratio of Expenses to Average
Net Assets (Excluding Fees
Paid Indirectly)		0.12	%		0.12	%		0.11	%		0.11	%		0.12	%		0.13	%		0.13	%		0.13	%		0.13	%		0.14	%
Ratio of Net Investment Income to
Average Net Assets		3.40	%		4.36	%		3.44	%		2.98	%		3.29	%		2.33	%		2.49	%		2.44	%		2.40	%		2.67	%
Portfolio Turnover Rate		9	%		15	%		10	%		8	%		17	%		13	%		9	%		14	%		13	%		13	%

See accompanying Notes to Financial Statements.
145

THE DFA INVESTMENT TRUST COMPANY

FINANCIAL HIGHLIGHTS

	The Canadian Small Company Series
	Year			Year			Year			Year			Year
	Ended			Ended			Ended			Ended			Ended
	Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,			Oct. 31,
	2017			2016			2015			2014			2013
Total Return		12.10	%		20.77	%		(25.00	)%		(3.83	)%		5.71	%
Net Assets, End of Year (thousands)	$	1,190,222		$	933,264		$	623,132		$	849,429		$	741,204
Ratio of Expenses to Average Net Assets		0.12	%		0.12	%		0.12	%		0.12	%		0.13	%
Ratio of Expenses to Average Net Assets
(Excluding Fees Paid Indirectly)		0.12	%		0.12	%		0.12	%		0.12	%		0.13	%
Ratio of Net Investment Income to Average Net Assets		2.14	%		2.52	%		2.73	%		2.42	%		2.99	%
Portfolio Turnover Rate		22	%		8	%		18	%		5	%		14	%

See accompanying Notes to Financial Statements.
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THE DFA INVESTMENT TRUST COMPANY
 NOTES TO FINANCIAL STATEMENTS

A. Organization:

The DFA Investment Trust Company (the “Trust”) is an open-end management investment company registered under the Investment Company Act of 1940. The Trust consists of eleven portfolios, five of which are included in this section of the report (collectively, the “Series”) The remaining operational portfolios are presented in separate reports. The Series are investment companies, and accordingly, follow the accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Certification (“ASC”) Topic 946, “Financial Services-Investment Companies.”

International Equity Portfolios

The Japanese Small Company Series

The Asia Pacific Small Company Series

The United Kingdom Small Company Series

The Continental Small Company Series

The Canadian Small Company Series

B. Significant Accounting Policies:

The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Trust in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material.

1. Security Valuation: The Series utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below:

● Level 1 – inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts)
 

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

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

Securities held by the International Equity Portfolios, including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). International equity securities are subject to a fair value factor, as described later in this note. Securities held by the International Equity Portfolios that are listed on NASDAQ are valued at the Nasdaq Official Closing Price (“NOCP”). If there is no last reported sale price or NOCP for the day, the International Equity Portfolios value the securities within the range of the most recent quoted bid and asked prices. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy.

Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Trustees of the Trust. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of Dimensional Fund Advisors LP) occur before the net asset value is

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calculated. When fair value pricing is used, the prices of securities used by the International Equity Portfolios may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy.

The International Equity Portfolios will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) and the time that the net asset values of the International Equity Portfolios are computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time the International Equity Portfolios price their shares at the close of the NYSE, the International Equity Portfolios will fair value their foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets’ perceptions and trading activities on the International Equity Portfolios’ foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of Trustees of the International Equity Portfolios has determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the International Equity Portfolios utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). When an International Equity Portfolio uses fair value pricing, the values assigned to the International Equity Portfolio’s foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy.

Futures contracts held by the Series are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy. Over-the-counter derivative contracts, which include forward currency contracts, do not require material subjectivity as pricing inputs are observed from quoted markets and are categorized as Level 2 in the hierarchy.

A summary of the inputs used to value the Series’ investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Summary Schedules of Portfolio Holdings. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

For the year ended October 31, 2017, there were no significant transfers between Level 1 and Level 2 and no significant Level 3 investments held by the Series.

2. Foreign Currency Translation: Securities and other assets and liabilities of the International Equity Portfolios, whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement.

The International Equity Portfolios do not isolate the effect of fluctuations in foreign currency rates when determining the realized gain or loss upon the sale or maturity of foreign currency denominated debt obligations pursuant to U.S. federal income tax regulations; such amounts are categorized as foreign exchange gain or loss for income tax reporting purposes.

Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the International Equity Portfolios and the U.S. dollar equivalent amounts actually received or paid.

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3. Deferred Compensation Plan: Each eligible Trustee of the Trust may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the “Plan”). Under the Plan, effective January 1, 2002, such Trustees may defer payment of all or a portion of their total fees earned as a Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors’/Trustees’ Fees & Expenses.

Each Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Trustee shall have the right in a notice of election (the “Notice”) to defer the receipt of the Trustee’s deferred compensation until a date specified by such Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Trustee ceases to be a member of the Board of Trustees of the Trust; and (ii) five years following the effective date of the Trustee’s first deferral election. If a Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Trustee’s deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Trustee ceases to be a member of the Board (unless the Trustee files an amended Notice selecting a different distribution date). As of October 31, 2017, none of the Trustees have requested or received a distribution of proceeds of a deferred fee account.

4. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities and foreign currency are accounted for on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Series estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Discount and premium on securities purchased are amortized over the lives of the respective securities, utilizing the effective interest method. Expenses directly attributable to a Series are directly charged. Common expenses of the Trust or Series are allocated using methods approved by the Board of Trustees, generally based on average net assets.

The International Equity Portfolios may be subject to taxes imposed by countries in which they invest, with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The Series accrue such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country’s balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad.

C. Investment Advisor:

The Advisor, Dimensional Fund Advisors LP, provides investment management services to the Series. For the year ended October 31, 2017, the Series’ investment management fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets:

The Japanese Small Company Series	0.10%
The Asia Pacific Small Company Series	0.10%
The United Kingdom Small Company Series	0.10%
The Continental Small Company Series	0.10%
The Canadian Small Company Series	0.10%

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Earned Income Credit:

In addition, the Series have entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of each Series’ custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. The impact of such credits is generally less than one basis point of each Series’ net assets. During the year ended October 31, 2017, expenses reduced were as follows (amounts in thousands):

	Fees Paid
	Indirectly
The Japanese Small Company Series	$	61
The Asia Pacific Small Company Series		25
The United Kingdom Small Company Series		57
The Continental Small Company Series		142
The Canadian Small Company Series		46

Fees Paid to Officers and Directors/Trustees:

Certain Officers and Trustees of the Advisor are also Officers and Trustees of the Trust; however, such Officers and Trustees (with the exception of the Chief Compliance Officer (“CCO”)) receive no compensation from the Trust. For the year ended October 31, 2017, the total related amounts paid by the Trust to the CCO were $85 (in thousands). The total related amounts paid by each of the Series are included in Other Expenses on the Statement of Operations.

D. Deferred Compensation:

At October 31, 2017, the total liability for deferred compensation to Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands):

The Japanese Small Company Series	$	96
The Asia Pacific Small Company Series		49
The United Kingdom Small Company Series		63
The Continental Small Company Series		125
The Canadian Small Company Series		30

E. Purchases and Sales of Securities:

For the year ended October 31, 2017, the Series’ transactions related to investment securities, other than short-term securities and U.S. government securities (amounts in thousands), were as follows:

	Purchases		Sales
The Japanese Small Company Series	$	500,531	$	438,549
The Asia Pacific Small Company Series		312,003		236,969
The United Kingdom Small Company Series		381,315		174,465
The Continental Small Company Series		921,278		640,361
The Canadian Small Company Series		442,511		257,115

There were no purchases or sales of long-term U.S. government securities.

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For the year ended October 31, 2017, transactions related to Affiliated Investment Companies were as follows (amounts in thousands):

	Balance at 10/31/16		Purchases at Cost		Proceeds from Sales		Net Realized Gain/(Loss) on Sales of Affiliated Investment			Change in Unrealized Appreciation/ Depreciation				Balance at 10/31/17		Shares as of 10/31/17		Dividend Income from Affiliated Investment Companies			Capital Gain Distributions from Affiliated  Investment
The Japanese Small Company Series
DFA Short Term
Investment Fund	$	280,962	$	1,095,593	$	977,123		$	69		$	(116	)	$	399,385	$	34,516		$	3,315		$	—
Total	$	280,962	$	1,095,593	$	977,123		$	69		$	(116	)	$	399,385	$	34,516		$	3,315		$	—
The Asia Pacific Small Company
DFA Short Term
Investment Fund	$	261,843	$	552,723	$	556,593		$	63		$	(85	)	$	257,951	$	22,293		$	2,514		$	—
Total	$	261,843	$	552,723	$	556,593		$	63		$	(85	)	$	257,951	$	22,293		$	2,514		$	—
United Kingdom Small Company Series
DFA Short Term
Investment Fund	$	56,584	$	338,586	$	341,464		$	2		$	(8	)	$	53,700	$	4,641		$	764		$	—
Total	$	56,584	$	338,586	$	341,464		$	2		$	(8	)	$	53,700	$	4,641		$	764		$	—
The Continental Small Company Series
DFA Short Term
Investment Fund	$	350,190	$	1,496,894	$	1,376,112		$	32		$	(119	)	$	470,885	$	40,695		$	4,826		$	—
Total	$	350,190	$	1,496,894	$	1,376,112		$	32		$	(119	)	$	470,885	$	40,695		$	4,826		$	—
The Canadian Small Company
DFA Short Term
Investment Fund	$	214,142	$	1,260,703	$	1,261,918		$	21		$	(29	)	$	212,919	$	18,401		$	2,017		$	—
Total	$	214,142	$	1,260,703	$	1,261,918		$	21		$	(29	)	$	212,919	$	18,401		$	2,017		$	—

F. Federal Income Taxes:

No provision for federal income taxes is required since the Series are treated as partnerships for federal income tax purposes. Any net investment income and realized and unrealized gains and losses have been deemed to have been “passed down” to their respective partners.

At October 31, 2017, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes, as follows (amounts in thousands):

	Federal		Unrealized		Unrealized			Net
	Tax Cost		Appreciation		Depreciation			Unrealized
The Japanese Small Company Series	$	3,314,291	$	1,213,062	$	(172,429	)	$	1,040,633
The Asia Pacific Small Company Series 1,978,372				445,114		(364,392	)		80,722
The United Kingdom Small Company Series		1,951,561		635,021		(215,722	)		419,299
The Continental Small Company Series 4,482,764				2,083,885		(372,897	)		1,710,988
The Canadian Small Company Series		1,494,062		199,811		(293,534	)		(93,723	)

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The difference between GAAP-basis and tax basis unrealized gains (losses) is attributable primarily to wash sales and net mark to market gains (losses) on regulated futures contracts, net mark-to-market gain/loss on foreign currency contracts, and differences in the tax treatment of passive foreign investment company investments.

ASC 740 Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed the Series’ tax positions and has concluded that no additional provision for income tax is required in any Series’ financial statements. The Series are not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Series’ federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

G. Financial Instruments:

In accordance with the Series’ investment objectives and policies, the Series may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below:

1. Foreign Market Risks: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Series may be inhibited.

Derivative Financial Instruments:

Summarized below are the specific types of derivative instruments used by the Series.

2. Futures Contracts: The Series noted below may purchase or sell futures contracts and options on futures contracts for equity securities and indices to adjust market exposure based on actual or expected cash inflows to or outflows from the Series. The Series, however, do not intend to sell futures contracts to establish short positions in individual securities. Upon entering into a futures contract, the Series deposit cash or pledge U.S. government securities to a broker, equal to the minimum “initial margin” requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as “variation margin” and are recorded daily by the Series as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Series record a realized gain or loss, which is presented in the Statements of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Series could lose more than the initial margin requirements. The Series entering into stock index futures are subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default.

3. Forward Currency Contracts: The International Equity Portfolios may acquire and sell forward currency contracts to hedge against adverse changes in the relationship of the U.S. dollar to foreign currencies (foreign exchange rate risk).

The decision to hedge a Series’ currency exposure with respect to a foreign market will be based primarily on the Series’ existing exposure to a given foreign currency. Each contract is valued daily and the change in value is recorded by the Series as an unrealized gain or loss, which is presented in the Statements of Operations as the change in unrealized appreciation or depreciation from translation of foreign currency denominated amounts. When the contract is closed or offset with the same counterparty, the Series records a realized gain or loss equal to the change in the value of the contract

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when it was opened and the value at the time it was closed or offset. This is presented in the Statement of Operations as a net realized gain or loss on foreign currency transactions. At October 31, 2017, the International Equity Portfolios had no outstanding forward currency contracts.

H. Line of Credit and Interfund Lending Program:

The Trust, together with other Dimensional-advised portfolios, has entered into a $500 million uncommitted, unsecured discretionary line of credit effective March 29, 2017 with its domestic custodian bank. A line of credit with similar terms was in effect through March 29, 2017. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The agreement for the line of credit expires on March 28, 2018.

The Trust, together with other Dimensional-advised portfolios, has also entered into an additional $700 million unsecured line of credit with its international custodian bank effective January 6, 2017. A line of credit with similar terms was in effect through January 6, 2017. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $700 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The line of credit agreement expires on January 5, 2018.

For the year ended October 31, 2017, borrowings by the Series under the lines of credit were as follows (amounts in thousands, except percentages and days):

	Weighted	Weighted			Number of		Interest			Maximum Amount
	Average	Average			Days		Expense			Borrowed During
	Interest Rate	Loan Balance			Outstanding*		Incurred			the Period
The Japanese Small Company Series	1.77%		$	16,525		6		$	5		$	25,222
The Asia Pacific Small Company Series	1.76%			1,241		34			2			9,913
The Continental Small Company Series	1.91%			120		1			—			120
The Canadian Small Company Series	1.88%			15,022		3			2			44,993

*Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2017, that each Series’ available line of credit was utilized.

There we no outstanding borrowings by the Series under the lines of credit as of October 31, 2017.

Pursuant to an exemptive order issued by the SEC (the “Order”), the Series may participate in an interfund lending program among certain portfolios managed by the Advisor (portfolios that operate as feeder funds do not participate in the program). The program allows the participating portfolios to borrow money from and loan money to each other for temporary or emergency purposes, subject to the conditions in the Order. A loan can only be made through the program if the interfund loan rate on that day is more favorable to both the borrowing and lending portfolios as compared to rates available through short-term bank loans or investments in overnight repurchase agreements and money market funds, respectively, as detailed in the Order. Further, a portfolio may participate in the program only if and to the extent that such participation is consistent with its investment objectives and limitations. Interfund loans have a maximum duration of seven days and may be called on one business day’s notice.

The Series did not utilize the interfund lending program during the year ended October 31, 2017.

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I. Affiliated Trades:

Cross trades for the year ended October 31, 2017, if any, were executed by the Series pursuant to procedures adopted by the Board of Trustees of the Trust to ensure compliance with Rule 17a-7 under the Investment Company Act of 1940 (the “1940 Act”). Cross trading is the buying or selling of portfolio securities between series of investment companies, or between a series of an investment company and another entity, that are or could be considered affiliates by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. At its regularly scheduled meetings, the Board reviews such transactions for compliance with the requirements and restrictions set forth by Rule 17a-7 under the 1940 Act.

For the year ended October 31, 2017, cross trades by the Portfolios under Rule 17a-7 were as follows (amounts in thousands):

					Realized
Portfolio	Purchases		Sales		Gain (Loss)
The Japanese Small Company Series	$	44,207	$	28,558		$	14,108
The Asia Pacific Small Company Series		28,263		33,425			14,632
The Continental Small Company Series		63,808		21,763			9,250
The Canadian Small Company Series		46,995		27,027			4,703

J. Securities Lending:

As of October 31, 2017, each Series had securities on loan to brokers/dealers, for which each such Series received cash collateral. The non-cash collateral includes short-and/or long-term U.S. Treasuries and U.S. government agency securities as follows (amounts in thousands):

	Market
	Value
The Japanese Small Company Series	$	11,439
The Asia Pacific Small Company Series		54,797
The Continental Small Company Series		10,247
The Canadian Small Company Series		1,883

Each Series invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral in an amount (i) equal to at least 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) generally equal to 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) generally equal to 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Series’ collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Series or, at the option of the lending agent, to replace the securities. In the event of the bankruptcy of the borrower, a Series could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value.

Subject to their stated investment policies, each Series will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the “Money Market Series”), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. Income received from the Money Market Series is netted with fees for securities lending and collateral investment expenses, and other payments to and from borrowers of securities. Such Series also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered

154

and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, each Series will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates.

The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged, and the remaining contractual maturity of those transactions as of October 31, 2017:

	Remaining Contractual Maturity of the Agreements
	As of October 31, 2017
	Overnight and			Between
	Continuous		<30 days	30 & 90 days		>90 days	Total
Securities Lending Transactions
The Japanese Small Company Series
Common Stocks	$	399,384,904	$—	$	—	$—	$	399,384,904
The Asia Pacific Small Company Series
Common Stocks	$	257,950,593	$—	$	—	$—	$	257,950,593
The United Kingdom Small Company Series
Common Stocks	$	53,700,300	$—	$	—	$—	$	53,700,300
The Continental Small Company Series
Common Stocks, Preferred Stocks,
Rights/Warrants	$	470,885,347	$—	$	—	$—	$	470,885,347
The Canadian Small Company Series
Common Stocks	$	212,918,854	$—	$	—	$—	$	212,918,854

K. Indemnitees; Contractual Obligations:

Under the Trust’s organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Trust.

In the normal course of business, the Trust enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust and/or its affiliates that have not yet occurred. However, based on experience, the Trust expects the risk of loss to be remote.

L. Recently Issued Accounting Standards:

In October 2016, the U.S Securities and Exchange Commission (“SEC”) adopted new rules and forms, and amendments to certain current rules and forms, to modernize reporting and disclosure of information by registered investment companies. The amendments to Regulation S-X require standardized, enhanced disclosure about derivatives in investment company financial statements, and also change the rules governing the form and content of such financial statements. The amendments to Regulation S-X took effect on August 1, 2017, and the financial statements have been modified accordingly, as applicable.

M. Subsequent Event Evaluations:

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

155

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Trustees of The DFA Investment Trust Company and
Shareholders of the Series, as defined

In our opinion, the accompanying statements of assets and liabilities, including the summary schedules of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of The Japanese Small Company Series, The Asia Pacific Small Company Series, The United Kingdom Small Company Series, The Continental Small Company Series, The Canadian Small Company Series, The Emerging Markets Series and The Emerging Markets Small Cap Series (nine of the portfolios constituting The DFA Investment Trust Company, hereafter referred to as the “Series”) as of October 31, 2017, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Series’ management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities as of October 31, 2017 by correspondence with the custodians, brokers and the transfer agent of the investee fund, provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania
December 21, 2017

156

FUND MANAGEMENT

(Unaudited)

Trustees/Directors

Each Board of Trustees/Directors (each, the “Board” and collectively, the “Boards”) of The DFA Investment Trust Company (“DFAITC”), DFA Investment Dimensions Group Inc. (“DFAIDG”), Dimensional Investment Group Inc. (“DIG”), and Dimensional Emerging Markets Value Fund (“DEM”) (each, the “Fund” and collectively, the “Funds”) is responsible for establishing the Funds’ policies and for overseeing the management of the Funds. The Trustees/ Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the “Feeder Portfolios”) that invest in certain series of DFAITC or DEM (the “Master Funds”).

Each Board has three standing committees: an Audit Committee, a Nominating Committee, and an Investment Strategy Committee (the “Strategy Committee”). The Audit Committee is composed of George M. Constantinides, Roger G. Ibbotson, and Abbie J. Smith. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund’s accounting and financial reporting policies and practices, the Fund’s internal controls, the Fund’s financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund’s independent registered certified public accounting firm and also acts as a liaison between the Fund’s independent registered certified public accounting firm and the full Board. There were two Audit Committee meetings held during the fiscal year ended October 31, 2017.

Each Board’s Nominating Committee is composed of George M. Constantinides, Roger G. Ibbotson, Myron S. Scholes, Edward P. Lazear, and Abbie J. Smith. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the full Board. The Nominating Committee evaluates a candidate’s qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. The Nominating Committee did not meet during the fiscal year ended October 31, 2017.

Each Board’s Strategy Committee is composed of Douglas W. Diamond, Edward P. Lazear, and Myron S. Scholes. Each member of the Strategy Committee is a disinterested Trustee/Director. The Strategy Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Strategy Committee may (i) review the design of possible new series of the Fund, (ii) review performance of existing portfolios of the Fund and discuss and recommend possible enhancements to the portfolios’ investment strategies, (iii) review proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) consider issues relating to investment services for each portfolio of the Fund. There were three Strategy Committee meetings held during the fiscal year ended October 31, 2017.

Certain biographical information for each disinterested Trustee/Director and each interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director’s experience as a Trustee/ Director of the Funds and as a director or trustee of other funds, as well as other recent professional experience.

The statements of additional information (together, “SAI”) of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746. Prospectuses are also available at http://us.dimensional.com

157

Name, Address and Year of Birth	Position	Term of Office1 and Length of Service	Principal Occupation During Past 5 Years	Portfolios within the DFA Fund Complex2 Overseen	Other Directorships of Public Companies Held During Past 5 Years
Disinterested Trustees/Directors
George M. Constantinides University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947	Director of DFAIDG and DIG Trustee of DFAITC and DEM	DFAIDG-Since 1983 DIG-Since 1993 DFAITC-Since 1992 DEM-Since 1993	Leo Melamed Professor of Finance, University of Chicago Booth School of Business (since 1978).	126 portfolios in 4 investment companies	None
Douglas W. Diamond University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1953	Director of DFAIDG and DIG Trustee of DFAITC and DEM	DFAIDG-Since June 2017 DIG-Since June 2017 DFAITC-Since June 2017 DEM-Since June 2017	Merton H. Miller Distinguished Service Professor of Finance, University of Chicago Booth School of Business (since 1988). Visiting Scholar, Federal Reserve Bank of Richmond (since 1990). Formerly, Fischer Black Visiting Professor of Financial Economics, Alfred P. Sloan School of Management, Massachusetts Institute of Technology (2015 to 2016).	126 portfolios in 4 investment companies	None
Roger G. Ibbotson Yale School of Management P.O. Box 208200 New Haven, CT 06520-8200 1943	Director of DFAIDG and DIG Trustee of DFAITC and DEM	DFAIDG-Since 1981 DIG-Since 1993 DFAITC-Since 1992 DEM-Since 1993	Professor in Practice Emeritus of Finance, Yale School of Management (since 1984). Chairman, CIO and Partner, Zebra Capital Management, LLC (hedge fund and asset manager) (since 2001). Formerly, Consultant to Morningstar, Inc. (2006 - 2016).	126 portfolios in 4 investment companies	None
Edward P. Lazear Stanford University Graduate School of Business Knight Management Center, E346 Stanford, CA 94305 1948	Director of DFAIDG and DIG Trustee of DFAITC and DEM	DFAIDG-Since 2010 DIG-Since 2010 DFAITC-Since 2010 DEM-Since 2010	Distinguished Visiting Fellow, Becker Friedman Institute for Research in Economics, University of Chicago (since 2015). Morris Arnold Cox Senior Fellow, Hoover Institution (since 2002). Jack Steele Parker Professor of Human Resources Management and Economics, Graduate School of Business, Stanford University (since 1995). Cornerstone Research (expert testimony and economic and financial analysis) (since 2009).	126 portfolios in 4 investment companies	None

158

Name, Address and Year of Birth	Position	Term of Office1 and Length of Service	Principal Occupation During Past 5 Years	Portfolios within the DFA Fund Complex2 Overseen	Other Directorships of Public Companies Held During Past 5 Years
Disinterested Trustees/Directors
Myron S. Scholes c/o Dimensional Fund Advisors LP 6300 Bee Cave Road, Building One Austin, TX 78746 1941	Director of DFAIDG and DIG Trustee of DFAITC and DEM	DFAIDG-Since 1981 DIG-Since 1993 DFAITC-Since 1992 DEM-Since 1993	Chief Investment Strategist, Janus Henderson Investors (since 2014). Frank E. Buck Professor of Finance, Emeritus, Graduate School of Business, Stanford University (since 1981).	126 portfolios in 4 investment companies	Formerly, Adviser, Kuapay, Inc. (2013-2014). Formerly, Director, American Century Fund Complex (registered investment companies) (43 Portfolios) (1980-2014).
Abbie J. Smith University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1953	Director of DFAIDG and DIG Trustee of DFAITC and DEM	DFAIDG-Since 2000 DIG-Since 2000 DFAITC-Since 2000 DEM-Since 2000	Boris and Irene Stern Distinguished Service Professor of Accounting, University of Chicago Booth School of Business (since 1980).	126 portfolios in 4 investment companies	Lead Director, (beginning May 2014) and Director (since 2000), HNI Corporation (formerly known as HON Industries Inc.) (office furniture); Director, Ryder System Inc. (transportation, logistics and supply-chain management) (since 2003); and Trustee, UBS Funds (3 investment companies within the fund complex) (24 portfolios) (since 2009).

159

Name, Address and Year of Birth	Position	Term of Office1 and Length of Service	Principal Occupation During Past 5 Years	Portfolios within the DFA Fund Complex2 Overseen	Other Directorships of Public Companies Held During Past 5 Years
Interested Trustees/Directors*
David G. Booth 6300 Bee Cave Road, Building One Austin, TX 78746 1946	Chairman Director of DFAIDG and DIG Trustee of DFAITC and DEM	DFAIDG-Since 1981 DIG-Since 1992 DFAITC-Since 1992 DEM-Since 1993	Chairman, Director/Trustee, and formerly, President and Co-Chief Executive Officer (each until March 2017) of Dimensional Emerging Markets Value Fund (“DEM”), DFAIDG, Dimensional Investment Group Inc. (“DIG”) and The DFA Investment Trust Company (“DFAITC”). Executive Chairman, and formerly, President and Co-Chief Executive Officer (each until February 2017) of Dimensional Holdings Inc., Dimensional Fund Advisors LP and DFA Securities LLC (collectively with DEM, DFAIDG, DIG and DFAITC, the “DFA Entities”). Chairman and Director (since 2009) and formerly Co-Chief Executive Officer (2010-June 2017) of Dimensional Fund Advisors Canada ULC. Trustee, University of Chicago (since 2002). Trustee, University of Kansas Endowment Association (since 2005). Formerly, Director of Dimensional Fund Advisors Ltd. (2002 – July 2017), DFA Australia Limited (1994 – July 2017), Dimensional Advisors Ltd. (2012 – July 2017), Dimensional Funds plc (2006 – July 2017) and Dimensional Funds II plc (2006 – July 2017). Formerly, Director and President of Dimensional Japan Ltd. (2012 – April 2017). Formerly, President, Dimensional SmartNest (US) LLC (2009-2014); and Limited Partner, VSC Investors, LLC (2007 to 2015). Formerly, Chairman, Director, President and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (2010-September 2017).	126 portfolios in 4 investment companies	None

1	Each Director holds office for an indefinite term until his or her successor is elected and qualified.
2	Each Director is a director or trustee of each of the four registered investment companies within the DFA Fund Complex, which include: DFAIDG; DIG; DFAITC; and DEM. Each disinterested Director also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by the Advisor’s affiliate, Dimensional Fund Advisors Canada ULC.
*	The Interested Trustee/Director is described as such because he is deemed to be an “interested person,” as that term is defined under the Investment Company Act of 1940, as amended, due to his position with the Advisor.

160

Officers

Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities.

		Term of Office1
		and Length of
Name and Year of Birth	Position	Service	Principal Occupation During Past 5 Years
Valerie A. Brown 1967	Vice President and Assistant Secretary	Since 2001	Vice President and Assistant Secretary of all the DFA Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC.
David P. Butler 1964	Co-Chief Executive Officer	Since 2017	Co-Chief Executive Officer of all the DFA entities (since 2017); Director of Dimensional Holdings Inc. (since February 2017), Dimensional Fund Advisors Canada ULC (since March 2017), Dimensional Japan Ltd. (since April 2017), Dimensional Advisors Ltd. (since July 2017), DFA Australia Limited (since July 2017) and Dimensional Fund Advisors Ltd. (since August 2017); Director and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (since September 13, 2017). Formerly, Vice President (October 2007 to February 2017), of all the DFA Entities. Head of Global Financial Advisor Services (since October 2007) for Dimensional Fund Advisors LP.
Stephen A. Clark 1972	Executive Vice President	Since 2017	Executive Vice President (since March 2017) and formerly, Vice President (2004 to March 2017), of all the DFA Entities. Director and Vice President (since February 2016) of Dimensional Japan Ltd. President and Director (since February 2016) of Dimensional Fund Advisors Canada ULC. Vice President (since April 2008) and Director (since October 2016) of DFA Australia Limited. Director (since April 2016) of Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd., and Dimensional Hong Kong Limited. Vice President (since June 2016) of Dimensional Fund Advisors Pte. Ltd. Head of Global Institutional Services (since January 2014) for Dimensional Fund Advisors LP. Formerly, Vice President (December 2010 – February 2016) of Dimensional Fund Advisors Canada ULC; and Head of Institutional, North America (March 2012 to December 2013) for Dimensional Fund Advisors LP.
Christopher S. Crossan 1965	Vice President and Global Chief Compliance Officer	Since 2004	Vice President and Global Chief Compliance Officer of all the DFA Entities, DFA Australia Limited and Dimensional Fund Advisors Ltd. Chief Compliance Officer and Chief Privacy Officer of Dimensional Fund Advisors Canada ULC (since October 2006 and March 2015, respectively), Chief Compliance Officer of Dimensional Fund Advisors Pte. Ltd. (since October 2012) and Dimensional Japan Ltd. (since February 2017). Formerly, Vice President and Global Chief Compliance Officer (October 2010 – 2014) for Dimensional SmartNest (US) LLC.
(Michael) Sam Gilliland 1962	Executive Vice President	Since 2017	Executive Vice President and Chief Operating Officer of the DFA Fund Complex (since March 2017). Executive Vice President (since February 2017), Senior Advisor and Chief Operating Officer (since February 2016) of Dimensional Funds Advisors LP, Dimensional Holdings Inc. and Dimensional Investment LLC. Executive Vice President (since February 2017) of DFA Securities LLC. Director of Dimensional Advisors Ltd. (since February 2017), Dimensional Hong Kong Limited (since February 2017) and DFA Australia Limited (since October 2016). Formerly, Consultant for MSG Consulting (August 2013 – February 2017), and Chairman and Chief Executive Officer of Sabre Holdings (December 2003 – August 2013).

161

		Term of Office1
		and Length of
Name and Year of Birth	Position	Service	Principal Occupation During Past 5 Years
Gregory K. Hinkle 1958	Vice President, Chief Financial Officer, and Treasurer	Since 2015	Vice President, Chief Financial Officer, and Treasurer of all the DFA Entities. Chief Financial Officer, Treasurer and Vice President of Dimensional Advisors Ltd., Dimensional Fund Advisors Ltd., Dimensional Hong Kong Limited, Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Canada ULC, Dimensional Fund Advisors Pte. Ltd and DFA Australia Limited. Director (since August 2016) for Dimensional Funds plc and Dimensional Funds II plc. Formerly, interim Chief Financial Officer and interim Treasurer of all the DFA Entities (April 2016 – September 2016); interim Chief Financial Officer and interim Treasurer (April 2016 – July 2016) of Dimensional Fund Advisors LP, Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd, Dimensional Hong Kong Limited, Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Canada ULC; Controller (August 2015 – September 2016) of all the DFA Entities; Controller (August 2015 – July 2016) Dimensional Fund Advisors LP; Vice President of T. Rowe Price Group, Inc. and Director of Investment Treasury and Treasurer of the T. Rowe Price Funds (March 2008 – July 2015).
Jeff J. Jeon 1973	Vice President and Assistant Secretary	Vice President since 2004 and Assistant Secretary since 2017	Vice President and Assistant Secretary (since 2004 and March 2017, respectively) of all the DFA Entities and Dimensional Cayman Commodity Fund I Ltd.
Kenneth M. Manell 1972	Vice President	Since 2010	Vice President of all the DFA Entities and Dimensional Cayman Commodity Fund I Ltd.
Catherine L. Newell 1964	President and General Counsel	Since 2017	President and General Counsel (since March 2017), and formerly, Vice President and Secretary (1997 and 2000, respectively, to March 2017), of all the DFA Entities. Director, Vice President and Secretary of DFA Australia Limited and Dimensional Fund Advisors Ltd. (since February 2002, April 1997, and May 2002, respectively). Vice President and Secretary of Dimensional Fund Advisors Canada ULC (since June 2003), Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd (since February 2012), Dimensional Advisors Ltd. (since March 2012) and Dimensional Fund Advisors Pte. Ltd. (since June 2012). Director of Dimensional Funds plc and Dimensional Funds II plc (since 2002 and 2006, respectively). Director of Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited (since August 2012 and July 2012). Formerly, Vice President and Secretary (October 2010 – November 2014) of Dimensional SmartNest (US) LLC.
Selwyn Notelovitz 1961	Vice President and Deputy Chief Compliance Officer	Since 2013	Vice President and Deputy Chief Compliance Officer of all the DFA Entities. Deputy Chief Compliance Officer (since December 2012) of Dimensional Fund Advisors LP.
Carolyn L. O 1974	Vice President and Secretary	Vice President since 2010 and Secretary since 2017	Vice President and Secretary (since 2010 and March 2017, respectively) of all the DFA Entities, Dimensional Cayman Commodity Fund I Ltd., and Dimensional Fund Advisors Canada ULC (since April 2016).

162

		Term of Office1
		and Length of
Name and Year of Birth	Position	Service	Principal Occupation During Past 5 Years
Gerard K. O’Reilly 1976	Co-Chief Executive Officer and Chief Investment Officer	Since 2017	Co-Chief Executive Officer and Chief Investment Officer of DFAIDG, DFAITC, DIG and DEM (since September, 2017) and Dimensional Holdings Inc., Dimensional Fund Advisors LP, DFA Securities LLC and Dimensional Fund Advisors Canada ULC (since September, 2017); Chief Investment Officer and Director of DFA Australia Limited (since September, 2017 and October 2017, respectively); Director, Co-Chief Executive Officer and Chief Investment Officer of Dimensional Cayman Commodity Fund I Ltd. (since September, 2017); Director of Dimensional Funds plc and Dimensional Fund II plc (since August 2014) and Dimensional Fund Advisors Pte. Ltd. (since June 2017); Co-Chief Investment Officer and Vice President (since February 2016) of Dimensional Japan Ltd. Formerly, Executive Vice President (March 2017 – September, 2017), Co-Chief Investment Officer (June 2014 – September, 2017) and Vice President (January 2007 – March 2017) of DFAIDG, DFAITC, DIG and DEM; Executive Vice President (February 2017 – September, 2017), Co-Chief Investment Officer (June 2014 – September, 2017) and Vice President (January 2007 – February 2017) of Dimensional Holdings Inc., Dimensional Fund Advisors LP and DFA Securities LLC; Vice President and Co-Chief Investment Officer (April 2014 – September, 2017) of Dimensional Fund Advisors Canada ULC; Co-Chief Investment Officer of DFA Australia Limited (April 2014 – September, 2017); Co-Chief Investment Officer of DFA Securities LLC, Dimensional Fund Advisors LP, and Dimensional Holdings LLC (April 2014 – September, 2017).

163

VOTING PROXIES ON FUND PORTFOLIO SECURITIES

A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available (1) without charge, upon request, by calling collect: (512) 306-7400; (2) from the Advisor’s website at http://us.dimensional.com; and (3) on the SEC’s website at http://www.sec.gov. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC’s website at http://www.sec.gov and from the Advisor’s website at http://us.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th.

164

Item 2. Code of Ethics.

Not applicable.

Item 3. Audit Committee Financial Expert.

Not applicable.

Item 4. Principal Accountant Fees and Services.

Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable to the registrant.

Item 6. Schedule of Investments.

(a)

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 95.4%
Aerospace & Defense — 3.2%
	Aerojet Rocketdyne Holdings, Inc. *	2,418	$	75,442
	Arconic, Inc.	4,351		118,565
	Boeing Co. (The)	25,620		7,555,594
	BWX Technologies, Inc.	5,045		305,172
	Cubic Corp.	500		29,475
	Curtiss-Wright Corp.	1,160		141,346
	Engility Holdings, Inc. *	495		14,043
	Esterline Technologies Corp. *	736		54,979
	General Dynamics Corp.	10,085		2,051,793
	Harris Corp.	4,350		616,177
	HEICO Corp.	846		79,820
	HEICO Corp., Class A	1,532		121,105
	Hexcel Corp.	3,100		191,735
	Huntington Ingalls Industries, Inc.	1,972		464,800
	KLX, Inc. *	1,200		81,900
	L3 Technologies, Inc.	1,426		282,134
	Lockheed Martin Corp.	12,054		3,869,937
	Maxar Technologies Ltd.	472		30,359
	Moog, Inc., Class A *	1,100		95,535
	Northrop Grumman Corp.	7,433		2,281,262
	Orbital ATK, Inc.	1,332		175,158
	Raytheon Co.	9,036		1,697,413
	Rockwell Collins, Inc.	5,762		781,442
	Spirit Aerosystems Holdings, Inc., Class A	5,105		445,411
	Teledyne Technologies, Inc. *	800		144,920
	Textron, Inc.	4,852		274,575
	TransDigm Group, Inc. @	1,620		444,884
	Triumph Group, Inc. @	1,120		30,464
	United Technologies Corp.	23,745		3,029,150
	Vectrus, Inc. *	366		11,291
	Wesco Aircraft Holdings, Inc. *	844		6,246
				25,502,127
Air Freight & Logistics — 1.0%
	CH Robinson Worldwide, Inc.	6,400		570,176
	Expeditors International of Washington, Inc.	5,723		370,221
	FedEx Corp.	9,639		2,405,316
	Forward Air Corp.	536		30,788
	HUB Group, Inc., Class A *	982		47,037
	United Parcel Service, Inc., Class B	32,513		3,873,924
	XPO Logistics, Inc. *@	3,544		324,595
				7,622,057
Airlines — 0.9%
	Alaska Air Group, Inc.	5,364		394,308
	Allegiant Travel Co. @	800		123,800
	American Airlines Group, Inc.	21,395		1,113,182
	Copa Holdings SA, Class A	1,041		139,556
	Delta Air Lines, Inc.	34,227		1,916,712
	Hawaiian Holdings, Inc.	2,703		107,715
	JetBlue Airways Corp. *	12,225		273,106
	Skywest, Inc.	1,469		78,004
	Southwest Airlines Co.	30,212		1,977,375
	Spirit Airlines, Inc. *	2,600		116,610
	United Continental Holdings, Inc. *	15,560		1,048,744
				7,289,112
Auto Components — 0.5%
	Adient PLC	2,002		157,557
	American Axle & Manufacturing Holdings,        Inc. *	4,031		68,648
	Aptiv PLC	12,677		1,075,390
	Autoliv, Inc. @	2,700		343,116
	BorgWarner, Inc.	4,453		227,504
	Cooper Tire & Rubber Co. @	2,400		84,840
	Cooper-Standard Holdings, Inc. *	400		49,000
	Dana, Inc.	6,712		214,851
	Delphi Technologies PLC *	4,225		221,686
	Dorman Products, Inc. *	1,109		67,804
	Gentex Corp.	10,100		211,595
	Gentherm, Inc. *	1,000		31,750
	Goodyear Tire & Rubber Co. (The)	9,064		292,858
	Horizon Global Corp. *	587		8,230
	LCI Industries	900		117,000
	Lear Corp.	2,724		481,222
	Tenneco, Inc.	2,500		146,350
	Visteon Corp. *	1,205		150,793
				3,950,194
Automobiles — 0.6%
	Ford Motor Co.	123,854		1,546,937
	General Motors Co.	52,835		2,165,707
	Harley-Davidson, Inc. @	7,722		392,895
	Tesla, Inc. *	903		281,149
	Thor Industries, Inc.	1,900		286,368
				4,673,056
Beverages — 2.5%
	Boston Beer Co., Inc. (The), Class A *@	422		80,644
	Brown-Forman Corp., Class A	1,902		127,891
	Brown-Forman Corp., Class B	10,640		730,649
	Coca-Cola Bottling Co., Consolidated	200		43,052
	Coca-Cola Co. (The)	159,849		7,333,872
	Constellation Brands, Inc., Class A	5,161		1,179,650
	Dr Pepper Snapple Group, Inc.	8,222		798,027
	Molson Coors Brewing Co., Class B	3,735		306,531
	Monster Beverage Corp. *	12,111		766,505
	National Beverage Corp. @	500		48,720
	PepsiCo, Inc.	67,969		8,150,843
				19,566,384
Biotechnology — 3.2%
	AbbVie, Inc.	75,823		7,332,842
	Alexion Pharmaceuticals, Inc. *	3,138		375,273
	Alkermes PLC *@	1,579		86,419
	Alnylam Pharmaceuticals, Inc. *	1,136		144,329
	Amgen, Inc.	21,789		3,789,107
	Aptevo Therapeutics, Inc. *	51		216
	Biogen, Inc. *	7,478		2,382,266
	BioMarin Pharmaceutical, Inc. *	1,327		118,329
	Bioverativ, Inc. *	4,400		237,248
	Bluebird Bio, Inc. *@	676		120,396
	Celgene Corp. *	29,744		3,104,084
	Emergent BioSolutions, Inc. *	102		4,740
	Exact Sciences Corp. *@	2,356		123,784
	Exelixis, Inc. *	10,395		316,008
	FibroGen, Inc. *	728		34,507
	Gilead Sciences, Inc.	61,720		4,421,621
	Incyte Corp. *	1,173		111,095
	Insys Therapeutics, Inc. *@	201		1,934
	Ionis Pharmaceuticals, Inc. *	1,221		61,416
	Juno Therapeutics, Inc. *@	764		34,922
	Myriad Genetics, Inc. *@	2,380		81,741
	Neurocrine Biosciences, Inc. *	1,008		78,211
	OPKO Health, Inc. *@	3,300		16,170
	Regeneron Pharmaceuticals, Inc. *	2,358		886,514
	Sage Therapeutics, Inc. *	135		22,236
	Seattle Genetics, Inc. *	147		7,864
	United Therapeutics Corp. *	1,803		266,754

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
BIOTECHNOLOGY (Continued)
	Vertex Pharmaceuticals, Inc. *	5,479	$	821,083
				24,981,109
Building Products — 0.4%
	A.O. Smith Corp.	4,700		288,016
	AAON, Inc.	400		14,680
	Allegion PLC	4,161		331,049
	Apogee Enterprises, Inc.	400		18,292
	Armstrong Flooring, Inc. *	711		12,030
	Armstrong World Industries, Inc. *	1,690		102,329
	Builders FirstSource, Inc. *	4,368		95,179
	Fortune Brands Home & Security, Inc.	4,718		322,900
	Johnson Controls International PLC	8,733		332,815
	Lennox International, Inc.	1,236		257,409
	Masco Corp.	10,053		441,729
	Owens Corning	3,497		321,514
	Simpson Manufacturing Co., Inc.	1,080		62,003
	Trex Co., Inc. *	800		86,712
	Universal Forest Products, Inc.	1,791		67,377
	USG Corp. *@	2,828		109,048
				2,863,082
Capital Markets — 2.3%
	Affiliated Managers Group, Inc.	1,196		245,479
	Ameriprise Financial, Inc.	4,953		839,385
	Artisan Partners Asset Management, Inc., Class A	2,694		106,413
	Bank of New York Mellon Corp. (The)	18,824		1,013,861
	BGC Partners, Inc., Class A	7,600		114,836
	BlackRock, Inc.	2,286		1,174,341
	CBOE Holdings, Inc.	2,492		310,478
	Charles Schwab Corp. (The)	24,349		1,250,808
	CME Group, Inc.	3,139		458,451
	Cohen & Steers, Inc.	1,400		66,206
	Donnelley Financial Solutions, Inc. *	1,074		20,932
	E*Trade Financial Corp. *	5,476		271,445
	Eaton Vance Corp.	4,868		274,507
	Evercore, Inc., Class A	1,680		151,200
	FactSet Research Systems, Inc. @	1,947		375,304
	Federated Investors, Inc., Class B	4,917		177,405
	Financial Engines, Inc.	700		21,210
	Franklin Resources, Inc.	4,676		202,611
	GAMCO Investors, Inc., Class A	200		5,930
	Goldman Sachs Group, Inc. (The)	3,628		924,269
	Interactive Brokers Group, Inc., Class A	2,779		164,545
	Intercontinental Exchange, Inc.	13,046		920,526
	Invesco Ltd.	9,419		344,170
	Janus Henderson Group PLC	3,343		127,903
	Lazard Ltd., Class A	1,209		63,473
	Legg Mason, Inc.	1,900		79,762
	LPL Financial Holdings, Inc.	2,967		169,534
	MarketAxess Holdings, Inc.	1,300		262,275
	Moelis & Co., Class A	1,315		63,778
	Moody's Corp.	5,690		839,901
	Morgan Stanley	23,701		1,243,591
	Morningstar, Inc.	700		67,879
	MSCI, Inc., Class A	3,889		492,114
	Nasdaq, Inc.	2,219		170,486
	Northern Trust Corp.	4,636		463,090
	Raymond James Financial, Inc.	2,130		190,209
	S&P Global, Inc.	12,351		2,092,259
	SEI Investments Co.	4,110		295,345
	State Street Corp.	5,358		522,994
	Stifel Financial Corp.	1,686		100,418
	T. Rowe Price Group, Inc.	10,102		1,060,003
	TD Ameritrade Holding Corp.	5,023		256,826
	Virtus Investment Partners, Inc.	200		23,010
	Waddell & Reed Financial, Inc., Class A @	3,561		79,553
	WisdomTree Investments, Inc. @	5,031		63,139
				18,161,854
Chemicals — 2.7%
	AdvanSix, Inc. *	1,163		48,927
	Air Products & Chemicals, Inc.	3,849		631,544
	Albemarle Corp.	1,193		152,573
	Ashland Global Holdings, Inc.	1,329		94,625
	Axalta Coating Systems Ltd. *	6,803		220,145
	Balchem Corp.	893		71,976
	Cabot Corp.	1,800		110,862
	Celanese Corp., Series A	3,818		408,831
	CF Industries Holdings, Inc.	3,802		161,737
	Chemours Co. (The)	6,313		316,029
	DowDuPont, Inc.	72,372		5,154,334
	Eastman Chemical Co.	6,348		588,079
	Ecolab, Inc.	8,765		1,176,088
	Flotek Industries, Inc. *@	1,026		4,781
	FMC Corp.	2,449		231,822
	GCP Applied Technologies, Inc. *	2,293		73,147
	H.B. Fuller Co.	1,077		58,018
	Huntsman Corp.	8,447		281,201
	Ingevity Corp. *	1,630		114,866
	International Flavors & Fragrances, Inc.	2,595		396,023
	LyondellBasell Industries NV, Class A	16,269		1,794,796
	Minerals Technologies, Inc.	1,316		90,607
	Monsanto Co.	19,039		2,223,374
	Mosaic Co. (The)	2,226		57,119
	NewMarket Corp.	462		183,594
	Olin Corp.	3,768		134,065
	Platform Specialty Products Corp. *	1,155		11,458
	PolyOne Corp.	2,800		121,800
	PPG Industries, Inc.	10,110		1,181,050
	Praxair, Inc.	14,061		2,174,956
	Quaker Chemical Corp.	100		15,079
	RPM International, Inc.	4,528		237,358
	Scotts Miracle-Gro Co. (The), Class A	2,064		220,827
	Sensient Technologies Corp.	1,000		73,150
	Sherwin Williams Co. (The)	3,887		1,593,825
	Trinseo SA	1,665		120,879
	Tronox Ltd., Class A	3,326		68,216
	Valvoline, Inc.	6,562		164,444
	W.R. Grace & Co.	2,716		190,473
	Westlake Chemical Corp.	1,143		121,764
				21,074,442
Commercial Banks — 3.5%
	Associated Banc-Corp.	4,810		122,174
	BancorpSouth Bank	2,260		71,077
	Bank of America Corp.	105,201		3,105,534
	Bank of Hawaii Corp.	1,300		111,410
	Bank of the Ozarks, Inc.	2,453		118,848
	BankUnited, Inc.	2,500		101,800
	BB&T Corp.	5,935		295,088
	Cathay General Bancorp	2,343		98,804
	Chemical Financial Corp.	1,945		103,999
	CIT Group, Inc.	1,593		78,423
	Citigroup, Inc.	26,391		1,963,754

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
COMMERCIAL BANKS (Continued)
	Citizens Financial Group, Inc.	2,213	$	92,902
	Columbia Banking System, Inc.	1,612		70,025
	Comerica, Inc.	1,157		100,439
	Commerce Bancshares, Inc.	2,536		141,610
	Community Bank System, Inc.	1,228		66,005
	Cullen/Frost Bankers, Inc.	594		56,222
	CVB Financial Corp.	2,712		63,895
	Eagle Bancorp, Inc. *	460		26,634
	East West Bancorp, Inc.	2,883		175,373
	FCB Financial Holdings, Inc., Class A *	400		20,320
	Fifth Third Bancorp	15,975		484,682
	First Citizens Bancshares, Inc., Class A	212		85,436
	First Financial Bankshares, Inc. @	705		31,760
	First Horizon National Corp.	6,040		120,740
	First Merchants Corp.	252		10,599
	First Midwest Bancorp, Inc.	2,635		63,266
	First Republic Bank	824		71,391
	FNB Corp.	7,444		102,876
	Fulton Financial Corp.	5,467		97,859
	Great Western Bancorp, Inc.	1,288		51,262
	Hancock Holding Co.	1,262		62,469
	Hilltop Holdings, Inc.	2,327		58,943
	Home Bancshares, Inc.	2,796		65,007
	Hope Bancorp, Inc.	2,893		52,797
	Huntington Bancshares, Inc.	7,349		107,002
	Iberiabank Corp.	891		69,053
	International Bancshares Corp.	1,350		53,595
	Investors Bancorp, Inc.	5,282		73,314
	JPMorgan Chase & Co.	71,602		7,657,118
	KeyCorp	7,387		148,996
	LegacyTexas Financial Group, Inc.	399		16,842
	M&T Bank Corp.	900		153,891
	MB Financial, Inc.	1,600		71,232
	Old National Bancorp	2,800		48,860
	PacWest Bancorp	1,900		95,760
	People's United Financial, Inc.	3,653		68,311
	Pinnacle Financial Partners, Inc.	1,110		73,593
	PNC Financial Services Group, Inc. (The)	4,801		692,736
	Popular, Inc.	2,182		77,439
	Prosperity Bancshares, Inc.	1,226		85,906
	Regions Financial Corp.	8,780		151,719
	ServisFirst Bancshares, Inc.	434		18,011
	Signature Bank *	713		97,866
	Simmons First National Corp., Class A	600		34,260
	South State Corp.	799		69,633
	Sterling Bancorp	4,073		100,196
	SunTrust Banks, Inc.	4,128		266,628
	SVB Financial Group *	1,071		250,368
	Synovus Financial Corp.	3,279		157,195
	TCF Financial Corp.	4,700		96,350
	Texas Capital Bancshares, Inc. *	827		73,520
	TowneBank	430		13,223
	Trustmark Corp.	1,900		60,534
	UMB Financial Corp.	900		64,728
	Umpqua Holdings Corp.	3,100		64,480
	United Bankshares, Inc. @	2,162		75,130
	United Community Banks, Inc.	860		24,200
	US Bancorp	31,526		1,689,163
	Valley National Bancorp	5,707		64,033
	Webster Financial Corp.	2,159		121,250
	Wells Fargo & Co.	96,745		5,869,519
	Westamerica Bancorp @	500		29,775
	Western Alliance Bancorp *	2,242		126,942
	Wintrust Financial Corp.	1,701		140,111
	Zions Bancorp	2,092		106,336
				27,602,241
Commercial Services & Supplies — 0.6%
	ABM Industries, Inc.	1,525		57,523
	Brady Corp., Class A	1,200		45,480
	Brink's Co. (The)	1,830		144,021
	Cintas Corp.	3,459		539,016
	Civeo Corp. *	3,200		8,736
	Clean Harbors, Inc. *	1,735		94,037
	Copart, Inc. *	8,342		360,291
	Covanta Holding Corp. @	3,570		60,333
	Deluxe Corp.	2,000		153,680
	Essendant, Inc.	900		8,343
	Healthcare Services Group, Inc.	2,553		134,594
	Herman Miller, Inc.	2,059		82,463
	HNI Corp.	1,066		41,116
	Interface, Inc.	1,200		30,180
	KAR Auction Services, Inc.	5,425		274,017
	LSC Communications, Inc.	1,074		16,271
	Mobile Mini, Inc.	1,083		37,363
	MSA Safety, Inc.	1,100		85,272
	Pitney Bowes, Inc.	5,807		64,922
	Republic Services, Inc.	7,222		488,279
	Rollins, Inc. @	4,221		196,403
	Steelcase, Inc., Class A	3,679		55,921
	Stericycle, Inc. *	1,544		104,977
	Tetra Tech, Inc.	1,092		52,580
	UniFirst Corp.	477		78,657
	Waste Management, Inc.	20,670		1,783,821
				4,998,296
Communications Equipment — 0.8%
	ADTRAN, Inc.	1,300		25,155
	Arista Networks, Inc. *	1,315		309,788
	ARRIS International PLC *	4,019		103,248
	Ciena Corp. *	4,911		102,787
	Cisco Systems, Inc.	101,185		3,875,385
	CommScope Holding Co., Inc. *	6,010		227,358
	EchoStar Corp., Class A *	1,040		62,296
	F5 Networks, Inc. *	2,800		367,416
	Finisar Corp. *@	2,900		59,015
	InterDigital, Inc.	1,372		104,478
	Juniper Networks, Inc.	4,904		139,764
	Lumentum Holdings, Inc. *@	759		37,115
	Motorola Solutions, Inc.	4,755		429,567
	NETGEAR, Inc. *	426		25,028
	NetScout Systems, Inc. *	2,150		65,468
	Palo Alto Networks, Inc. *	1,177		170,594
	Plantronics, Inc.	1,300		65,494
	Ubiquiti Networks, Inc. *@	932		66,191
	Viasat, Inc. *@	1,131		84,655
	Viavi Solutions, Inc. *	5,100		44,574
				6,365,376
Computers & Peripherals — 4.6%
	3D Systems Corp. *@	1,421		12,277
	Apple, Inc.	193,269		32,706,913
	Electronics for Imaging, Inc. *	1,399		41,312
	Hewlett Packard Enterprise Co.	29,185		419,097
	HP, Inc.	50,359		1,058,043
	NCR Corp. *	4,927		167,469
	NetApp, Inc.	7,606		420,764
	Seagate Technology PLC @	14,030		587,015
	Stratasys Ltd. *	981		19,581
	Western Digital Corp.	5,725		455,309

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
COMPUTERS & PERIPHERALS (Continued)
	Xerox Corp.	4,155	$	121,118
				36,008,898
Construction & Engineering — 0.1%
	AECOM *	3,981		147,894
	Chicago Bridge & Iron Co. NV	2,347		37,881
	Dycom Industries, Inc. *@	1,788		199,237
	EMCOR Group, Inc.	1,700		138,975
	Fluor Corp.	1,663		85,894
	Granite Construction, Inc.	245		15,540
	Jacobs Engineering Group, Inc.	1,095		72,226
	KBR, Inc.	2,987		59,232
	MasTec, Inc. *	2,200		107,690
	Primoris Services Corp.	1,000		27,190
	Quanta Services, Inc. *	3,524		137,824
	Valmont Industries, Inc.	432		71,647
				1,101,230
Construction Materials — 0.1%
	Eagle Materials, Inc.	1,471		166,664
	Martin Marietta Materials, Inc.	988		218,388
	Summit Materials, Inc., Class A *	1,217		38,256
	Vulcan Materials Co.	2,484		318,871
				742,179
Consumer Finance — 0.8%
	Ally Financial, Inc.	12,704		370,449
	American Express Co.	30,084		2,987,642
	Capital One Financial Corp.	7,451		741,971
	Credit Acceptance Corp. *@	284		91,868
	Discover Financial Services	13,557		1,042,804
	FirstCash, Inc.	1,400		94,430
	Green Dot Corp., Class A *	628		37,843
	Navient Corp.	7,353		97,942
	Nelnet, Inc., Class A	156		8,546
	OneMain Holdings, Inc. *	893		23,209
	PRA Group, Inc. *@	1,500		49,800
	Santander Consumer USA Holdings, Inc.	3,992		74,331
	SLM Corp. *	15,724		177,681
	Synchrony Financial	17,679		682,586
				6,481,102
Containers & Packaging — 0.6%
	Aptargroup, Inc.	2,021		174,372
	Avery Dennison Corp.	4,556		523,302
	Ball Corp.	6,686		253,065
	Bemis Co., Inc.	3,733		178,400
	Berry Plastics Group, Inc. *	4,752		278,800
	Crown Holdings, Inc. *	6,068		341,325
	Graphic Packaging Holding Co.	13,226		204,342
	Greif, Inc., Class A	1,000		60,580
	International Paper Co.	14,819		858,613
	Owens-Illinois, Inc. *	6,988		154,924
	Packaging Corp. of America	4,365		526,201
	Sealed Air Corp.	6,267		308,963
	Silgan Holdings, Inc.	3,936		115,679
	Sonoco Products Co.	3,106		165,053
	WestRock Co.	3,359		212,322
				4,355,941
Distributors — 0.2%
	Core-Mark Holding Co., Inc.	724		22,864
	Genuine Parts Co.	5,605		532,531
	LKQ Corp. *	9,191		373,798
	Pool Corp.	1,885		244,390
				1,173,583
Diversified Consumer Services — 0.2%
	Adtalem Global Education, Inc. *	1,600		67,280
	Bright Horizons Family Solutions, Inc. *	1,729		162,526
	Graham Holdings Co., Class B	100		55,835
	Grand Canyon Education, Inc. *	1,784		159,722
	H&R Block, Inc.	6,927		181,626
	Houghton Mifflin Harcourt Co. *	2,049		19,056
	Service Corp. International	9,025		336,813
	ServiceMaster Global Holdings, Inc. *	6,209		318,335
	Sotheby's *	622		32,095
				1,333,288
Diversified Financial Services — 0.9%
	Berkshire Hathaway, Inc., Class B *	35,809		7,098,060
	Cannae Holdings, Inc. *	2,320		39,509
	Leucadia National Corp.	3,526		93,404
	Voya Financial, Inc.	2,876		142,276
				7,373,249
Diversified Telecommunication Services — 2.5%
	AT&T, Inc.	219,157		8,520,824
	CenturyLink, Inc.	28,305		472,128
	Cogent Communications Holdings, Inc. @	1,228		55,628
	Frontier Communications Corp. @	1,250		8,450
	Verizon Communications, Inc.	193,995		10,268,155
	Vonage Holdings Corp. *	2,009		20,432
	Windstream Holdings, Inc.	4,665		8,630
	Zayo Group Holdings, Inc. *	6,218		228,823
				19,583,070
Electric Utilities — 1.6%
	Allete, Inc.	2,070		153,925
	Alliant Energy Corp.	6,292		268,102
	American Electric Power Co., Inc.	11,742		863,859
	Avangrid, Inc. @	1,433		72,481
	Duke Energy Corp.	17,400		1,463,514
	Edison International	9,834		621,902
	El Paso Electric Co.	1,200		66,420
	Entergy Corp.	4,939		401,985
	Eversource Energy	6,803		429,814
	Exelon Corp.	29,315		1,155,304
	FirstEnergy Corp.	12,570		384,894
	Great Plains Energy, Inc.	5,580		179,899
	Hawaiian Electric Industries, Inc.	3,245		117,307
	IDACORP, Inc.	1,058		96,659
	MGE Energy, Inc.	573		36,156
	NextEra Energy, Inc.	14,718		2,298,805
	OGE Energy Corp.	5,840		192,195
	PG&E Corp.	13,322		597,225
	Pinnacle West Capital Corp.	3,190		271,724
	PNM Resources, Inc.	2,600		105,170
	Portland General Electric Co.	2,100		95,718
	PPL Corp.	19,020		588,669
	Southern Co. (The)	25,224		1,213,022
	Westar Energy, Inc.	4,860		256,608
	Xcel Energy, Inc.	15,130		727,904
				12,659,261
Electrical Equipment — 0.6%
	Acuity Brands, Inc. @	1,379		242,704
	AMETEK, Inc.	4,199		304,302
	Babcock & Wilcox Enterprises, Inc. *@	1,486		8,441
	Eaton Corp. PLC	9,738		769,399

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
ELECTRICAL EQUIPMENT (Continued)
	Emerson Electric Co.	19,728	$	1,374,844
	EnerSys	1,200		83,556
	Generac Holdings, Inc. *	2,200		108,944
	Hubbell, Inc.	1,588		214,920
	Regal Beloit Corp.	967		74,072
	Rockwell Automation, Inc.	5,603		1,100,149
	Sensata Technologies Holding NV *	6,645		339,626
				4,620,957
Electronic Equipment, Instruments & Components — 0.8%
	Amphenol Corp., Class A	11,806		1,036,567
	Anixter International, Inc. *	800		60,800
	Arrow Electronics, Inc. *	2,575		207,056
	Avnet, Inc.	1,408		55,785
	Belden, Inc.	1,299		100,244
	CDW Corp.	6,754		469,335
	Cognex Corp.	3,706		226,659
	Coherent, Inc. *	782		220,696
	Corning, Inc.	15,148		484,584
	Daktronics, Inc.	100		913
	Dolby Laboratories, Inc., Class A	1,700		105,400
	Flex Ltd. *	21,283		382,881
	FLIR Systems, Inc.	3,073		143,263
	II-VI, Inc. *	908		42,631
	IPG Photonics Corp. *	990		211,989
	Itron, Inc. *	545		37,169
	Jabil, Inc.	5,400		141,750
	Keysight Technologies, Inc. *	4,041		168,106
	Knowles Corp. *	1,850		27,121
	Littelfuse, Inc. @	580		114,736
	Methode Electronics, Inc.	400		16,040
	National Instruments Corp.	2,750		114,482
	OSI Systems, Inc. *	572		36,825
	Plexus Corp. *	900		54,648
	Rogers Corp. *	268		43,395
	Sanmina Corp. *	1,400		46,200
	SYNNEX Corp.	735		99,923
	TE Connectivity Ltd.	11,219		1,066,254
	Tech Data Corp. *	763		74,751
	Trimble, Inc. *	2,424		98,511
	Universal Display Corp.	786		135,703
	VeriFone Systems, Inc. *	2,891		51,200
	Vishay Intertechnology, Inc.	4,130		85,697
	Zebra Technologies Corp., Class A *	2,214		229,813
				6,391,127
Energy Equipment & Services — 0.4%
	Archrock, Inc.	1,688		17,724
	Baker Hughes a GE Co.	5,494		173,830
	Bristow Group, Inc. @	1,083		14,588
	CARBO Ceramics, Inc. *@	300		3,054
	Core Laboratories NV @	2,191		240,024
	Diamond Offshore Drilling, Inc. *@	1,386		25,766
	Dril-Quip, Inc. *	900		42,930
	Ensco PLC @	7,433		43,929
	Era Group, Inc. *	400		4,300
	Exterran Corp. *	844		26,535
	Forum Energy Technologies, Inc. *	1,368		21,273
	Halliburton Co.	8,154		398,486
	Helix Energy Solutions Group, Inc. *	2,643		19,928
	Helmerich & Payne, Inc. @	2,451		158,433
	Hornbeck Offshore Services, Inc. *	900		2,799
	McDermott International, Inc. *	6,400		42,112
	Nabors Industries Ltd. @	8,800		60,104
	National Oilwell Varco, Inc.	4,787		172,428
	Noble Corp. PLC *@	5,783		26,139
	Oceaneering International, Inc.	2,700		57,078
	Oil States International, Inc. *	1,400		39,620
	Patterson-UTI Energy, Inc.	4,300		98,943
	Rowan Cos. PLC, Class A *	2,805		43,926
	Schlumberger Ltd.	13,219		890,829
	SEACOR Holdings, Inc. *	500		23,110
	SEACOR Marine Holdings, Inc. *	502		5,873
	Superior Energy Services, Inc. *	2,568		24,730
	TechnipFMC PLC	3,165		99,096
	Transocean Ltd. *@	10,878		116,177
	U.S. Silica Holdings, Inc. @	612		19,927
	Unit Corp. *	1,300		28,600
	Weatherford International PLC *	21,184		88,337
				3,030,628
Food & Staples Retailing — 2.0%
	Andersons, Inc. (The)	486		15,139
	Casey's General Stores, Inc. @	1,701		190,410
	Costco Wholesale Corp.	17,244		3,209,453
	CVS Health Corp.	31,968		2,317,680
	Kroger Co. (The)	41,913		1,150,512
	Performance Food Group Co. *	1,098		36,344
	PriceSmart, Inc.	600		51,660
	Rite Aid Corp. *@	44,924		88,500
	Sprouts Farmers Market, Inc. *	4,416		107,530
	SUPERVALU, Inc. *	800		17,280
	Sysco Corp.	21,676		1,316,384
	United Natural Foods, Inc. *	1,400		68,978
	Wal-Mart Stores, Inc.	60,220		5,946,725
	Walgreens Boots Alliance, Inc.	16,420		1,192,420
	Weis Markets, Inc.	600		24,834
				15,733,849
Food Products — 1.1%
	Archer-Daniels-Midland Co.	3,267		130,941
	B&G Foods, Inc. @	2,370		83,306
	Blue Buffalo Pet Products, Inc. *@	4,874		159,819
	Bunge Ltd.	1,820		122,086
	Cal-Maine Foods, Inc. *@	389		17,291
	Campbell Soup Co. @	8,657		416,488
	ConAgra Brands, Inc.	6,911		260,337
	Darling Ingredients, Inc. *	3,710		67,262
	Dean Foods Co.	4,792		55,396
	Flowers Foods, Inc.	5,407		104,409
	Fresh Del Monte Produce, Inc.	1,100		52,437
	General Mills, Inc.	24,938		1,478,574
	Hain Celestial Group, Inc. (The) *	2,595		110,002
	Hershey Co. (The)	6,749		766,079
	Hormel Foods Corp.	9,190		334,424
	Ingredion, Inc.	2,464		344,467
	J&J Snack Foods Corp.	457		69,386
	J.M. Smucker Co. (The)	2,349		291,840
	Kellogg Co.	11,146		757,705
	Kraft Heinz Co. (The)	6,310		490,666
	Lamb Weston Holdings, Inc.	4,692		264,863
	Lancaster Colony Corp.	722		93,290
	McCormick & Co., Inc.	4,121		419,971
	Mondelez International, Inc., Class A	14,328		613,238
	Pilgrim's Pride Corp. *@	1,700		52,802
	Pinnacle Foods, Inc.	2,322		138,089
	Post Holdings, Inc. *	1,937		153,469
	Sanderson Farms, Inc. @	839		116,437
	Snyders-Lance, Inc.	1,354		67,808
	Tootsie Roll Industries, Inc. @	349		12,704
	TreeHouse Foods, Inc. *	916		45,305

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
FOOD PRODUCTS (Continued)
	Tyson Foods, Inc., Class A	8,773	$	711,227
				8,802,118
Gas Utilities — 0.2%
	Atmos Energy Corp.	2,360		202,700
	National Fuel Gas Co. @	2,513		137,989
	New Jersey Resources Corp.	2,300		92,460
	Northwest Natural Gas Co.	456		27,200
	ONE Gas, Inc.	953		69,817
	South Jersey Industries, Inc.	1,600		49,968
	Southwest Gas Corp.	1,343		108,085
	Spire, Inc.	1,631		122,570
	UGI Corp.	5,299		248,788
	WGL Holdings, Inc.	1,400		120,176
				1,179,753
Health Care Equipment & Supplies — 1.6%
	Abbott Laboratories	17,169		979,835
	ABIOMED, Inc. *	957		179,351
	Align Technology, Inc. *	2,300		511,037
	Baxter International, Inc.	10,811		698,823
	Becton Dickinson & Co.	3,873		829,001
	Boston Scientific Corp. *	25,139		623,196
	Cantel Medical Corp.	1,074		110,482
	Cooper Companies, Inc. (The)	939		204,589
	Danaher Corp.	5,795		537,892
	Dentsply Sirona, Inc.	3,002		197,622
	DexCom, Inc. *@	1,183		67,892
	Edwards Lifesciences Corp. *	6,748		760,567
	Globus Medical, Inc., Class A *	1,500		61,650
	Haemonetics Corp. *	1,000		58,080
	Halyard Health, Inc. *	1,856		85,710
	Hill-Rom Holdings, Inc.	2,124		179,032
	Hologic, Inc. *	8,011		342,470
	ICU Medical, Inc. *	98		21,168
	Idexx Laboratories, Inc. *	2,754		430,671
	Inogen, Inc. *	301		35,843
	Insulet Corp. *	901		62,169
	Integra LifeSciences Holdings Corp. *@	1,168		55,901
	Intuitive Surgical, Inc. *	2,428		886,074
	LivaNova PLC *	1,115		89,111
	Masimo Corp. *	1,500		127,200
	Medtronic PLC	13,204		1,066,223
	Neogen Corp. *	167		13,729
	NuVasive, Inc. *	1,369		80,073
	ResMed, Inc. @	4,096		346,890
	SeaSpine Holdings Corp. *	266		2,692
	STERIS PLC	722		63,153
	Stryker Corp.	10,173		1,575,187
	Teleflex, Inc.	764		190,099
	Varex Imaging Corp. *	1,282		51,498
	Varian Medical Systems, Inc. *	2,725		302,884
	West Pharmaceutical Services, Inc.	1,573		155,208
	Zimmer Biomet Holdings, Inc.	1,997		240,978
				12,223,980
Health Care Providers & Services — 2.6%
	Acadia Healthcare Co., Inc. *@	1,916		62,519
	Aetna, Inc.	7,150		1,289,788
	Amedisys, Inc. *	278		14,653
	AmerisourceBergen Corp.	6,392		586,913
	AMN Healthcare Services, Inc. *	1,300		64,025
	Anthem, Inc.	5,792		1,303,258
	Brookdale Senior Living, Inc. *	3,601		34,930
	Cardinal Health, Inc.	12,363		757,481
	Centene Corp. *	3,639		367,102
	Chemed Corp.	623		151,401
	CIGNA Corp.	7,444		1,511,802
	Community Health Systems, Inc. *@	4,567		19,455
	DaVita, Inc. *	5,848		422,518
	Diplomat Pharmacy, Inc. *	170		3,412
	Encompass Health Corp.	3,958		195,565
	Envision Healthcare Corp. *	2,293		79,246
	Express Scripts Holding Co. *	23,331		1,741,426
	HCA Holdings, Inc. *	9,284		815,507
	HealthEquity, Inc. *@	400		18,664
	Henry Schein, Inc. *	4,568		319,212
	Humana, Inc.	3,511		870,974
	Kindred Healthcare, Inc.	1,371		13,299
	Laboratory Corp. of America Holdings *	2,802		446,947
	LifePoint Health, Inc. *	1,533		76,343
	Magellan Health, Inc. *	708		68,357
	McKesson Corp.	6,784		1,057,965
	Mednax, Inc. *	2,600		138,944
	Molina Healthcare, Inc. *@	1,439		110,343
	Owens & Minor, Inc.	1,695		32,002
	Patterson Cos., Inc. @	2,215		80,028
	Premier, Inc., Class A *	1,155		33,714
	Quest Diagnostics, Inc.	4,438		437,099
	Quorum Health Corp. *	1,141		7,120
	Select Medical Holdings Corp. *	2,804		49,491
	Tenet Healthcare Corp. *@	4,329		65,628
	UnitedHealth Group, Inc.	29,475		6,498,058
	Universal Health Services, Inc., Class B	2,755		312,279
	WellCare Health Plans, Inc. *	1,305		262,449
				20,319,917
Health Care Technology — 0.1%
	Allscripts Healthcare Solutions, Inc. *	5,500		80,025
	athenahealth, Inc. *	1,077		143,284
	Cerner Corp. *	9,714		654,626
	HMS Holdings Corp. *	1,549		26,256
	Medidata Solutions, Inc. *	618		39,163
	Veeva Systems, Inc., Class A *	1,900		105,032
				1,048,386
Hotels, Restaurants & Leisure — 2.3%
	Aramark	9,125		390,002
	Belmond Ltd., Class A *	1,547		18,951
	Bloomin' Brands, Inc.	5,602		119,547
	Brinker International, Inc. @	1,448		56,240
	Buffalo Wild Wings, Inc. *	843		131,803
	Carnival Corp.	6,726		446,405
	Cheesecake Factory, Inc. (The) @	1,877		90,434
	Chipotle Mexican Grill, Inc. *@	475		137,289
	Choice Hotels International, Inc.	1,000		77,600
	Cracker Barrel Old Country Store, Inc. @	1,060		168,423
	Darden Restaurants, Inc.	3,965		380,719
	Dave & Buster's Entertainment, Inc. *	1,491		82,258
	DineEquity, Inc. @	590		29,931
	Domino's Pizza, Inc.	1,295		244,703
	Dunkin' Brands Group, Inc.	2,994		193,023
	Extended Stay America, Inc.	3,350		63,650
	Fiesta Restaurant Group, Inc. *@	484		9,196
	Hilton Grand Vacations, Inc. *	3,233		135,624
	Hilton Worldwide Holdings, Inc.	8,416		672,102
	Hyatt Hotels Corp., Class A *	300		22,062

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
HOTELS, RESTAURANTS & LEISURE (Continued)
	ILG, Inc.	3,339	$	95,095
	International Game Technology PLC	1,437		38,095
	J Alexander's Holdings, Inc. *	400		3,880
	Jack in the Box, Inc.	752		73,779
	La Quinta Holdings, Inc. *	615		11,353
	Las Vegas Sands Corp.	17,765		1,234,490
	Marriott International, Inc., Class A	11,320		1,536,464
	Marriott Vacations Worldwide Corp.	675		91,267
	McDonald's Corp.	24,762		4,262,035
	MGM Resorts International	9,774		326,354
	Norwegian Cruise Line Holdings Ltd. *	4,996		266,037
	Papa John's International, Inc. @	761		42,700
	Planet Fitness, Inc. Class A *	829		28,708
	Red Rock Resorts, Inc., Class A	2,662		89,816
	Royal Caribbean Cruises Ltd.	3,090		368,575
	Scientific Games Corp., Class A *	1,200		61,560
	SeaWorld Entertainment, Inc. *@	1,100		14,927
	Six Flags Entertainment Corp.	2,452		163,230
	Sonic Corp. @	1,700		46,716
	Starbucks Corp.	66,121		3,797,329
	Texas Roadhouse, Inc.	1,857		97,827
	Vail Resorts, Inc.	1,332		283,010
	Wendy's Co. (The)	7,777		127,698
	Wyndham Worldwide Corp.	4,979		576,917
	Wynn Resorts Ltd.	2,638		444,740
	Yum! Brands, Inc.	9,738		794,718
				18,347,282
Household Durables — 0.4%
	CalAtlantic Group, Inc.	1,929		108,776
	DR Horton, Inc.	7,540		385,068
	Garmin Ltd. @	2,389		142,313
	GoPro, Inc., Class A *@	1,515		11,469
	Helen of Troy Ltd. *	818		78,814
	Installed Building Products, Inc. *	422		32,051
	iRobot Corp. *@	145		11,122
	KB Home	2,554		81,600
	La-Z-Boy, Inc.	1,500		46,800
	Leggett & Platt, Inc.	4,900		233,877
	Lennar Corp., Class A	2,639		166,890
	Lennar Corp.,B Shares	38		1,964
	Meritage Homes Corp. *	900		46,080
	Mohawk Industries, Inc. *	1,266		349,289
	Newell Brands, Inc.	4,648		143,623
	NVR, Inc. *	159		557,807
	PulteGroup, Inc.	5,100		169,575
	Taylor Morrison Home Corp., Class A *	469		11,476
	Tempur Sealy International, Inc. *@	1,941		121,681
	Toll Brothers, Inc.	1,650		79,233
	TopBuild Corp. *	1,180		89,373
	TRI Pointe Group, Inc. *	854		15,304
	Tupperware Brands Corp.	2,245		140,762
	Whirlpool Corp.	2,639		445,041
				3,469,988
Household Products — 1.6%
	Church & Dwight Co., Inc.	9,755		489,408
	Clorox Co. (The)	5,655		841,125
	Colgate-Palmolive Co.	26,296		1,984,033
	Energizer Holdings, Inc.	2,587		124,124
	HRG Group, Inc. *	3,569		60,495
	Kimberly-Clark Corp.	12,102		1,460,227
	Procter & Gamble Co. (The)	79,992		7,349,665
	Spectrum Brands Holdings, Inc. @	817		91,831
	WD-40 Co.	251		29,618
				12,430,526
Independent Power Producers & Energy Traders — 0.1%
	AES Corp.	23,347		252,848
	Calpine Corp. *	10,515		159,092
	Dynegy, Inc. *	1,700		20,145
	NRG Energy, Inc.	13,150		374,512
	NRG Yield, Inc., Class A	475		8,954
	NRG Yield, Inc., Class C	475		8,978
	Ormat Technologies, Inc.	441		28,206
	Pattern Energy Group, Inc. @	560		12,034
	Vistra Energy Corp. *@	577		10,571
				875,340
Industrial Conglomerates — 1.7%
	3M Co.	28,438		6,693,452
	Carlisle Cos., Inc.	1,461		166,043
	General Electric Co.	84,202		1,469,325
	Honeywell International, Inc.	28,340		4,346,222
	Raven Industries, Inc.	939		32,255
	Roper Technologies, Inc.	1,844		477,596
				13,184,893
Insurance — 1.7%
	Aflac, Inc.	8,699		763,598
	Alleghany Corp. *	225		134,120
	Allstate Corp. (The)	6,281		657,683
	American Equity Investment Life Holding Co.	3,500		107,555
	American Financial Group, Inc.	953		103,439
	American International Group, Inc.	13,281		791,282
	American National Insurance Co.	117		15,005
	AmTrust Financial Services, Inc. @	2,204		22,194
	Aon PLC	7,975		1,068,650
	Arch Capital Group Ltd. *	1,621		147,138
	Argo Group International Holdings Ltd.	765		47,162
	Arthur J. Gallagher & Co.	3,802		240,591
	Aspen Insurance Holdings Ltd.	1,050		42,630
	Assurant, Inc.	1,246		125,647
	Assured Guaranty Ltd.	2,429		82,270
	Axis Capital Holdings Ltd.	1,600		80,416
	Brighthouse Financial, Inc. *	934		54,770
	Brown & Brown, Inc.	2,820		145,117
	Chubb Ltd.	4,357		636,688
	Cincinnati Financial Corp.	1,756		131,647
	CNO Financial Group, Inc.	5,300		130,857
	Enstar Group Ltd. *	300		60,225
	Erie Indemnity Co., Class A	1,030		125,495
	Everest Re Group Ltd.	328		72,573
	First American Financial Corp.	3,390		189,976
	FNF Group	3,562		139,773
	Genworth Financial, Inc., Class A *	12,668		39,397
	Hanover Insurance Group, Inc. (The)	696		75,224
	Hartford Financial Services Group, Inc.	4,870		274,084
	Kemper Corp.	1,200		82,680
	Lincoln National Corp.	1,140		87,632
	Loews Corp.	3,687		184,461
	Markel Corp. *	100		113,913
	Marsh & McLennan Cos., Inc.	20,780		1,691,284
	MBIA, Inc. *@	3,900		28,548
	Mercury General Corp.	800		42,752
	MetLife, Inc.	8,118		410,446
	National General Holdings Corp.	1,173		23,038
	Old Republic International Corp.	4,100		87,658
	Primerica, Inc.	1,400		142,170
	Principal Financial Group, Inc.	6,204		437,754

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
INSURANCE (Continued)
	ProAssurance Corp.	1,193	$	68,180
	Progressive Corp. (The)	13,045		734,694
	Prudential Financial, Inc.	3,569		410,364
	Reinsurance Group of America, Inc.	777		121,158
	RenaissanceRe Holdings Ltd.	669		84,020
	RLI Corp.	1,000		60,660
	Selective Insurance Group, Inc.	1,695		99,496
	Torchmark Corp.	641		58,145
	Travelers Companies, Inc. (The)	9,080		1,231,611
	Unum Group	2,795		153,418
	Validus Holdings Ltd.	1,760		82,579
	White Mountains Insurance Group Ltd.	84		71,508
	Willis Towers Watson PLC	925		139,388
	WR Berkley Corp.	829		59,398
	XL Group Ltd.	1,736		61,038
				13,273,199
Internet & Catalog Retail — 3.6%
	Amazon.com, Inc. *	19,551		22,864,308
	Expedia, Inc.	2,480		297,030
	Groupon, Inc. *@	10,075		51,382
	HSN, Inc.	1,490		60,121
	Lands' End, Inc. *@	357		6,979
	Liberty Expedia Holdings, Inc., Class A *	1,430		63,392
	Liberty Interactive Corp. QVC Group, Class A *	11,465		279,975
	Liberty TripAdvisor Holdings, Inc., Class A *	2,162		20,377
	Liberty Ventures, Series A *	1,244		67,475
	Netflix, Inc. *	9,485		1,820,741
	Priceline Group, Inc. (The) *	1,542		2,679,595
	Shutterfly, Inc. *	562		27,960
	TripAdvisor, Inc. *@	2,215		76,329
				28,315,664
Internet Software & Services — 3.6%
	Akamai Technologies, Inc. *	3,829		249,038
	Alphabet, Inc., Class A *	5,614		5,913,788
	Alphabet, Inc., Class C *	5,884		6,157,018
	Cars.com, Inc. *@	2,311		66,649
	Cimpress NV *	1,180		141,458
	CommerceHub, Inc., Series A *@	357		7,850
	CommerceHub, Inc., Series C *	715		14,722
	CoStar Group, Inc. *	438		130,064
	eBay, Inc. *	32,077		1,210,586
	Envestnet, Inc. *	90		4,487
	Facebook, Inc., Class A *	72,830		12,851,582
	GoDaddy, Inc., Class A *	4,305		216,455
	GrubHub, Inc. *@	800		57,440
	IAC/InterActiveCorp *	1,298		158,720
	j2 Global, Inc.	1,413		106,017
	LogMeIn, Inc.	1,051		120,340
	Match Group, Inc. *@	1,404		43,959
	NIC, Inc.	1,910		31,706
	Shutterstock, Inc. *	191		8,219
	Stamps.com, Inc. *	493		92,684
	Twitter, Inc. *	8,301		199,307
	VeriSign, Inc. *@	2,830		323,865
	Web.com Group, Inc. *	1,185		25,833
	Zillow Group, Inc., Class A *	436		17,763
	Zillow Group, Inc., Class C *@	1,159		47,426
				28,196,976
IT Services — 5.3%
	Accenture PLC, Class A	28,710		4,395,214
	Acxiom Corp. *	2,292		63,167
	Alliance Data Systems Corp.	2,466		625,082
	Amdocs Ltd.	2,698		176,665
	Automatic Data Processing, Inc.	20,025		2,346,730
	Black Knight, Inc. *	1,392		61,457
	Blackhawk Network Holdings, Inc. *	1,743		62,138
	Booz Allen Hamilton Holding Corp.	6,462		246,396
	Broadridge Financial Solutions, Inc.	5,758		521,560
	CACI International, Inc., Class A *	756		100,057
	Cardtronics PLC, Class A *	1,505		27,873
	Cognizant Technology Solutions Corp., Class A	11,445		812,824
	Conduent, Inc. *	3,289		53,150
	Convergys Corp.	3,200		75,200
	CoreLogic, Inc. *	2,907		134,332
	CSRA, Inc.	7,110		212,731
	DST Systems, Inc.	2,120		131,588
	DXC Technology Co.	8,952		849,545
	EPAM Systems, Inc. *	1,205		129,453
	Euronet Worldwide, Inc. *	1,963		165,422
	ExlService Holdings, Inc. *	1,356		81,835
	Fidelity National Information Services, Inc.	8,242		775,490
	First Data Corp., Class A *	2,811		46,972
	Fiserv, Inc. *	9,400		1,232,622
	FleetCor Technologies, Inc. *	2,576		495,700
	Gartner, Inc., Class A *	2,596		319,697
	Genpact Ltd.	4,492		142,576
	Global Payments, Inc.	3,557		356,554
	International Business Machines Corp.	42,481		6,517,435
	Jack Henry & Associates, Inc.	3,100		362,576
	Leidos Holdings, Inc.	1,886		121,779
	Luxoft Holding, Inc. *	412		22,948
	MasterCard, Inc., Class A	45,592		6,900,805
	MAXIMUS, Inc.	3,001		214,812
	Paychex, Inc.	14,712		1,001,593
	PayPal Holdings, Inc. *	25,887		1,905,801
	Sabre Corp.	8,718		178,719
	Science Applications International Corp.	1,571		120,291
	Square, Inc., Class A *	3,167		109,800
	Syntel, Inc. *	1,200		27,588
	Teradata Corp. *	3,627		139,494
	Total System Services, Inc.	5,935		469,399
	Travelport Worldwide Ltd.	4,076		53,273
	Unisys Corp. *@	917		7,473
	Vantiv, Inc., Class A *@	7,049		518,454
	Visa, Inc., Class A	70,380		8,024,728
	Western Union Co. (The)	21,133		401,738
	WEX, Inc. *	1,026		144,902
				41,885,638
Leisure Equipment & Products — 0.1%
	Brunswick Corp.	2,766		152,738
	Hasbro, Inc.	4,346		395,008
	Mattel, Inc. @	8,102		124,609
	Polaris Industries, Inc.	2,893		358,703
	Vista Outdoor, Inc. *	1,760		25,643
				1,056,701
Life Sciences Tools & Services — 0.7%
	Agilent Technologies, Inc.	6,155		412,200
	Bio-Rad Laboratories, Inc., Class A *	308		73,510
	Bio-Techne Corp.	1,000		129,550

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
LIFE SCIENCES TOOLS & SERVICES (Continued)
	Bruker Corp.	3,952	$	135,633
	Cambrex Corp. *	882		42,336
	Charles River Laboratories International, Inc. *	1,850		202,483
	Illumina, Inc. *	3,164		691,303
	INC Research Holdings, Inc., Class A *	927		40,417
	IQVIA Holdings, Inc. *	2,600		254,540
	Mettler-Toledo International, Inc. *	1,316		815,288
	PerkinElmer, Inc.	1,576		115,237
	PRA Health Sciences, Inc. *	1,053		95,897
	Thermo Fisher Scientific, Inc.	9,107		1,729,237
	Waters Corp. *	2,500		482,975
				5,220,606
Machinery — 2.3%
	Actuant Corp., Class A	1,508		38,152
	AGCO Corp.	1,297		92,645
	Allison Transmission Holdings, Inc.	6,306		271,599
	Barnes Group, Inc.	1,200		75,924
	Caterpillar, Inc.	22,217		3,500,955
	Chart Industries, Inc. *	663		31,068
	Colfax Corp. *	1,602		63,471
	Crane Co.	1,115		99,480
	Cummins, Inc.	5,162		911,816
	Deere & Co.	12,239		1,915,526
	Donaldson Co., Inc.	5,304		259,631
	Dover Corp.	4,377		442,033
	EnPro Industries, Inc.	200		18,702
	Flowserve Corp.	2,584		108,864
	Fortive Corp.	7,738		559,844
	Franklin Electric Co., Inc.	1,200		55,080
	Graco, Inc.	8,169		369,402
	Greenbrier Cos., Inc. (The) @	500		26,650
	Harsco Corp. *	2,911		54,290
	Hillenbrand, Inc.	1,890		84,483
	Hyster-Yale Materials Handling, Inc.	300		25,548
	IDEX Corp.	2,400		316,728
	Illinois Tool Works, Inc.	14,668		2,447,356
	Ingersoll-Rand PLC	7,939		708,079
	ITT, Inc.	2,181		116,400
	John Bean Technologies Corp.	1,592		176,394
	Kennametal, Inc.	2,100		101,661
	Lincoln Electric Holdings, Inc.	1,791		164,020
	Meritor, Inc. *	1,596		37,442
	Middleby Corp. *@	1,500		202,425
	Mueller Industries, Inc.	1,390		49,248
	Mueller Water Products, Inc., Class A	5,028		63,001
	Navistar International Corp. *	302		12,950
	Nordson Corp.	2,147		314,321
	Oshkosh Corp.	2,000		181,780
	PACCAR, Inc.	11,883		844,644
	Parker Hannifin Corp.	4,040		806,303
	Pentair PLC	3,472		245,193
	Proto Labs, Inc. *	473		48,719
	RBC Bearings, Inc. *	421		53,214
	Rexnord Corp. *	3,100		80,662
	Snap-On, Inc.	1,800		313,740
	SPX Corp. *	700		21,973
	SPX FLOW, Inc. *	700		33,285
	Stanley Black & Decker, Inc.	3,340		566,764
	Terex Corp.	2,693		129,856
	Timken Co., (The)	1,644		80,803
	Toro Co. (The)	4,654		303,580
	Trinity Industries, Inc.	3,800		142,348
	WABCO Holdings, Inc. *	2,200		315,700
	Wabtec Corp. @	1,144		93,156
	Watts Water Technologies, Inc., Class A	400		30,380
	Welbilt, Inc. *	5,372		126,296
	Woodward, Inc.	1,254		95,981
	Xylem, Inc.	4,353		296,875
				18,526,440
Marine — 0.0%
	Kirby Corp. *	875		58,450
	Matson, Inc.	1,600		47,744
				106,194
Media — 3.3%
	AMC Networks, Inc., Class A *@	2,046		110,648
	Cable One, Inc.	211		148,407
	CBS Corp., Class A	1,116		66,223
	CBS Corp., Class B	15,429		910,311
	Charter Communications, Inc., Class A *	6,537		2,196,170
	Cinemark Holdings, Inc. @	4,417		153,800
	Clear Channel Outdoor Holdings, Inc., Class A	1,565		7,199
	Comcast Corp., Class A	190,639		7,635,092
	Discovery Communications, Inc., Class A *@	5,911		132,288
	Discovery Communications, Inc., Class C *@	6,303		133,434
	DISH Network Corp., Class A *	9,582		457,540
	Entercom Communications Corp., Class A	7,307		78,916
	Gannett Co., Inc.	3,120		36,161
	Interpublic Group of Cos., Inc. (The)	14,910		300,586
	John Wiley & Sons, Inc., Class A	1,300		85,475
	Liberty Braves Group, Class A *	126		2,778
	Liberty Braves Group, Class C *	117		2,600
	Liberty Broadband Corp., Class A *	315		26,791
	Liberty Broadband Corp., Class C *	1,536		130,806
	Liberty Media Corp-Liberty Formula One, Class A *	315		10,307
	Liberty Media Corp-Liberty Formula One, Class C *	294		10,043
	Liberty SiriusXM Group, Class A *	1,263		50,091
	Liberty SiriusXM Group, Class C *	1,178		46,719
	Lions Gate Entertainment Corp., Class A *@	632		21,368
	Lions Gate Entertainment Corp., Class B *	2,031		64,464
	Live Nation Entertainment, Inc. *	5,674		241,542
	Madison Square Garden Co. (The), Class A *	447		94,250
	Meredith Corp.	900		59,445
	MSG Networks, Inc., Class A *	1,643		33,271
	New York Times Co. (The), Class A	701		12,968
	News Corp., Class A	4,798		77,776
	News Corp., Class B	1,525		25,315
	Nexstar Media Group, Inc. @	900		70,380
	Omnicom Group, Inc.	10,945		797,124
	Regal Entertainment Group, Class A	2,586		59,504
	Scripps Networks Interactive, Inc., Class A	3,567		304,550
	Sinclair Broadcast Group, Inc., Class A	2,200		83,270
	Sirius XM Holdings, Inc. @	52,300		280,328
	TEGNA, Inc.	6,935		97,645
	Time Warner, Inc.	24,747		2,263,608
	Time, Inc.	2,965		54,704
	Twenty-First Century Fox, Inc., Class A	41,745		1,441,455
	Twenty-First Century Fox, Inc., Class B	17,373		592,767
	Viacom, Inc., Class A	294		10,261
	Viacom, Inc., Class B	12,671		390,393

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
MEDIA (Continued)
	Walt Disney Co. (The)	59,466	$	6,393,190
				26,201,963
Metals & Mining — 0.4%
	AK Steel Holding Corp. *@	8,847		50,074
	Alcoa Corp. *	1,879		101,222
	Allegheny Technologies, Inc. *@	3,100		74,834
	Carpenter Technology Corp.	1,500		76,485
	Cleveland-Cliffs, Inc. *@	5,003		36,072
	Commercial Metals Co.	3,500		74,620
	Compass Minerals International, Inc. @	1,484		107,219
	Freeport-McMoRan, Inc. *	61,637		1,168,637
	Hecla Mining Co.	7,576		30,077
	Newmont Mining Corp.	2,347		88,059
	Nucor Corp.	7,163		455,424
	Reliance Steel & Aluminum Co.	1,390		119,248
	Royal Gold, Inc.	1,115		91,564
	Southern Copper Corp. @	2,789		132,338
	Steel Dynamics, Inc.	8,092		349,008
	SunCoke Energy, Inc. *	1,575		18,884
	TimkenSteel Corp. *@	1,300		19,747
	United States Steel Corp.	3,199		112,573
	Worthington Industries, Inc.	1,249		55,031
				3,161,116
Multi-Utilities — 0.8%
	Ameren Corp.	6,985		412,045
	Avista Corp.	1,575		81,097
	Black Hills Corp. @	1,500		90,165
	Centerpoint Energy, Inc.	11,464		325,119
	CMS Energy Corp.	9,645		456,208
	Consolidated Edison, Inc.	7,006		595,160
	Dominion Resources, Inc.	19,684		1,595,585
	DTE Energy Co.	5,210		570,287
	MDU Resources Group, Inc.	5,125		137,760
	NiSource, Inc.	7,322		187,956
	NorthWestern Corp.	1,200		71,640
	Public Service Enterprise Group, Inc.	11,020		567,530
	SCANA Corp.	3,636		144,640
	Sempra Energy	5,538		592,123
	Vectren Corp.	2,300		149,546
	WEC Energy Group, Inc.	7,624		506,462
				6,483,323
Multiline Retail — 0.6%
	Big Lots, Inc. @	1,950		109,492
	Dillard's, Inc., Class A @	915		54,946
	Dollar General Corp.	11,236		1,045,060
	Dollar Tree, Inc. *	8,858		950,552
	J.C. Penney Co., Inc. *@	4,700		14,852
	Kohl's Corp. @	7,588		411,497
	Macy's, Inc. @	15,108		380,571
	Nordstrom, Inc. @	5,825		275,988
	Ollie's Bargain Outlet Holdings, Inc. *	1,239		65,977
	Target Corp.	25,095		1,637,449
				4,946,384
Oil, Gas & Consumable Fuels — 2.5%
	Anadarko Petroleum Corp.	11,943		640,623
	Andeavor	5,143		588,051
	Antero Resources Corp. *@	1,854		35,226
	Apache Corp.	3,851		162,589
	Cabot Oil & Gas Corp.	5,785		165,451
	Callon Petroleum Co. *@	2,016		24,494
	Centennial Resource Development Inc., Class A *@	672		13,306
	Cheniere Energy, Inc. *	6,794		365,789
	Chevron Corp.	18,744		2,346,561
	Cimarex Energy Co.	3,358		409,710
	CNX Resources Corp. *	6,400		93,632
	Concho Resources, Inc. *	3,188		478,901
	ConocoPhillips	11,618		637,712
	CONSOL Energy, Inc. *	800		31,608
	Continental Resources, Inc. *	2,869		151,971
	CVR Energy, Inc. @	600		22,344
	Delek US Holdings, Inc.	3,459		120,858
	Denbury Resources, Inc. *@	5,421		11,980
	Devon Energy Corp.	6,226		257,756
	Diamondback Energy, Inc. *	605		76,381
	Dorian LPG Ltd. *	110		904
	Energen Corp. *	2,586		148,876
	EnLink Midstream LLC	1,100		19,360
	EOG Resources, Inc.	14,017		1,512,575
	EQT Corp.	6,896		392,520
	Exxon Mobil Corp.	42,621		3,564,820
	GasLog Ltd.	343		7,632
	Green Plains, Inc.	300		5,055
	Gulfport Energy Corp. *	3,029		38,650
	Hess Corp.	2,133		101,254
	HollyFrontier Corp.	2,925		149,819
	Kinder Morgan, Inc.	36,759		664,235
	Kosmos Energy Ltd. *@	3,400		23,290
	Laredo Petroleum, Inc. *@	5,918		62,790
	Marathon Oil Corp.	12,000		203,160
	Marathon Petroleum Corp.	18,303		1,207,632
	Matador Resources Co. *	1,728		53,793
	Murphy Oil Corp. @	2,705		83,990
	Newfield Exploration Co. *	2,739		86,361
	Noble Energy, Inc.	5,803		169,099
	Oasis Petroleum, Inc. *	3,512		29,536
	Occidental Petroleum Corp.	15,195		1,119,264
	ONEOK, Inc.	8,184		437,435
	Parsley Energy, Inc., Class A *	3,133		92,236
	PBF Energy, Inc., Class A	2,220		78,699
	PDC Energy, Inc. *	1,026		52,880
	Peabody Energy Corp. *	2,633		103,661
	Phillips 66	6,288		636,031
	Pioneer Natural Resources Co.	1,324		228,853
	QEP Resources, Inc. *	4,300		41,151
	Range Resources Corp. @	2,234		38,112
	RSP Permian, Inc. *	2,685		109,226
	Scorpio Tankers, Inc.	5,186		15,817
	SemGroup Corp., Class A	841		25,398
	SM Energy Co. @	2,100		46,368
	Southwestern Energy Co. *	2,869		16,009
	SRC Energy, Inc. *@	1,700		14,501
	Targa Resources Corp.	2,196		106,330
	Teekay Corp. @	2,035		18,966
	Valero Energy Corp.	9,729		894,192
	Whiting Petroleum Corp. *@	3,459		91,594
	Williams Cos., Inc. (The)	15,144		461,741
	World Fuel Services Corp.	1,600		45,024
	WPX Energy, Inc. *	8,368		117,738
				19,951,520
Paper & Forest Products — 0.0%
	Domtar Corp.	2,000		99,040

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
PAPER & FOREST PRODUCTS (Continued)
	KapStone Paper & Packaging Corp.	2,832	$	64,258
	Louisiana-Pacific Corp. *	3,743		98,291
	Resolute Forest Products, Inc. *	1,425		15,746
	Schweitzer-Mauduit International, Inc.	933		42,321
				319,656
Personal Products — 0.2%
	Avon Products, Inc. *	14,900		32,035
	Edgewell Personal Care Co. *	1,061		63,013
	Estee Lauder Companies, Inc. (The), Class A	9,234		1,174,934
	Herbalife Ltd. *@	2,930		198,420
	Nu Skin Enterprises, Inc., Class A	1,688		115,172
	Revlon, Inc., Class A *@	344		7,499
				1,591,073
Pharmaceuticals — 4.1%
	Akorn, Inc. *	3,779		121,797
	Allergan PLC	3,165		517,731
	Bristol-Myers Squibb Co.	50,218		3,077,359
	Catalent, Inc. *	5,834		239,661
	Eli Lilly & Co.	29,084		2,456,435
	Endo International PLC *	2,551		19,770
	Horizon Pharma PLC *	2,542		37,113
	Impax Laboratories, Inc. *	1,887		31,419
	Jazz Pharmaceuticals PLC *	1,878		252,873
	Johnson & Johnson	84,707		11,835,262
	Lannett Co., Inc. *@	997		23,130
	Mallinckrodt PLC *@	1,401		31,607
	Merck & Co., Inc.	86,668		4,876,808
	Mylan NV *	7,971		337,253
	Nektar Therapeutics *	1,398		83,489
	Perrigo Co. PLC	821		71,558
	Pfizer, Inc.	183,764		6,655,932
	Prestige Brands Holdings, Inc. *	1,608		71,411
	Supernus Pharmaceuticals, Inc. *	600		23,910
	Taro Pharmaceutical Industries Ltd. *	475		49,737
	Zoetis, Inc.	22,005		1,585,240
				32,399,495
Professional Services — 0.3%
	Dun & Bradstreet Corp.	1,200		142,092
	Equifax, Inc.	3,810		449,275
	FTI Consulting, Inc. *	1,200		51,552
	Huron Consulting Group, Inc. *	334		13,510
	Insperity, Inc.	1,128		64,691
	Korn/Ferry International	800		33,104
	Manpowergroup, Inc.	2,190		276,181
	Nielsen Holdings PLC	10,130		368,732
	On Assignment, Inc. *	1,277		82,073
	Robert Half International, Inc.	5,675		315,190
	TransUnion *	4,425		243,198
	TriNet Group, Inc. *	865		38,354
	Verisk Analytics, Inc., Class A *	6,676		640,896
				2,718,848
Real Estate Management & Development — 0.1%
	Alexander & Baldwin, Inc.	1,272		35,285
	Altisource Asset Management Corp. *	40		3,264
	Altisource Portfolio Solutions SA *	400		11,200
	CBRE Group, Inc., Class A *	10,202		441,849
	HFF, Inc., Class A	799		38,863
	Howard Hughes Corp. (The) *	589		77,318
	Jones Lang LaSalle, Inc.	1,300		193,609
	Kennedy-Wilson Holdings, Inc.	1,369		23,752
	Realogy Holdings Corp.	5,446		144,319
				969,459
Road & Rail — 1.1%
	AMERCO	336		126,978
	Avis Budget Group, Inc. *@	4,512		197,986
	CSX Corp.	26,289		1,446,158
	Genesee & Wyoming, Inc., Class A *	1,018		80,147
	Heartland Express, Inc.	1,283		29,945
	Hertz Global Holdings, Inc. *	3,948		87,251
	JB Hunt Transport Services, Inc.	4,393		505,107
	Kansas City Southern	2,591		272,625
	Knight-Swift Transportation Holdings, Inc. @	4,058		177,416
	Landstar System, Inc.	1,847		192,273
	Norfolk Southern Corp.	8,876		1,286,132
	Old Dominion Freight Line, Inc.	2,371		311,905
	Ryder System, Inc.	2,122		178,609
	Union Pacific Corp.	30,668		4,112,579
	Werner Enterprises, Inc.	1,200		46,380
				9,051,491
Semiconductors & Semiconductor Equipment — 3.9%
	Advanced Energy Industries, Inc. *	1,613		108,845
	Advanced Micro Devices, Inc. *@	4,686		48,172
	Amkor Technology, Inc. *	1,137		11,427
	Analog Devices, Inc.	2,539		226,047
	Applied Materials, Inc.	40,297		2,059,983
	Broadcom Ltd.	10,472		2,690,257
	Cabot Microelectronics Corp.	836		78,651
	Cavium, Inc. *	870		72,932
	Cirrus Logic, Inc. *	1,900		98,534
	Cree, Inc. *	3,245		120,519
	Cypress Semiconductor Corp.	7,192		109,606
	Entegris, Inc.	4,137		125,972
	First Solar, Inc. *	1,200		81,024
	Integrated Device Technology, Inc. *	3,400		101,082
	Intel Corp.	148,234		6,842,481
	Kla-Tencor Corp.	6,527		685,792
	Lam Research Corp.	4,810		885,377
	Marvell Technology Group Ltd.	4,536		97,388
	Maxim Integrated Products, Inc.	10,140		530,119
	MaxLinear, Inc. *	1,100		29,062
	Microchip Technology, Inc. @	6,823		599,605
	Micron Technology, Inc. *	37,552		1,544,138
	Microsemi Corp. *	2,664		137,596
	MKS Instruments, Inc.	1,696		160,272
	Monolithic Power Systems, Inc.	706		79,326
	NVIDIA Corp.	22,802		4,412,187
	ON Semiconductor Corp. *	14,830		310,540
	Power Integrations, Inc.	73		5,369
	Qorvo, Inc. *	980		65,268
	QUALCOMM, Inc.	33,552		2,147,999
	Rambus, Inc. *	825		11,732
	Semtech Corp. *	600		20,520
	Silicon Laboratories, Inc. *	600		52,980
	Skyworks Solutions, Inc.	7,317		694,749
	Synaptics, Inc. *@	1,074		42,896
	Teradyne, Inc.	6,144		257,249
	Texas Instruments, Inc.	44,499		4,647,476
	Veeco Instruments, Inc. *	312		4,633
	Versum Materials, Inc.	3,951		149,545
	Xilinx, Inc.	7,467		503,425
	Xperi Corp.	1,097		26,767
				30,877,542

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Software — 5.2%
	ACI Worldwide, Inc. *	2,645	$	59,962
	Activision Blizzard, Inc.	16,086		1,018,566
	Adobe Systems, Inc. *	14,839		2,600,386
	ANSYS, Inc. *	1,739		256,659
	Aspen Technology, Inc. *	2,399		158,814
	Atlassian Corp. PLC, Class A *	854		38,874
	Autodesk, Inc. *	1,553		162,801
	Blackbaud, Inc.	1,688		159,499
	CA, Inc.	6,796		226,171
	Cadence Design Systems, Inc. *	10,300		430,746
	CDK Global, Inc.	3,619		257,962
	Citrix Systems, Inc. *	5,699		501,512
	Dell Technologies, Inc., Class V *	6,122		497,596
	Electronic Arts, Inc. *	9,752		1,024,545
	Ellie Mae, Inc. *@	328		29,323
	Fair Isaac Corp.	1,150		176,180
	FireEye, Inc. *	1,314		18,659
	Fortinet, Inc. *	2,008		87,730
	Guidewire Software, Inc. *	839		62,304
	Intuit, Inc.	11,110		1,752,936
	Manhattan Associates, Inc. *	3,523		174,529
	Microsoft Corp.	294,435		25,185,970
	MicroStrategy, Inc., Class A *	297		38,996
	Nuance Communications, Inc. *	4,400		71,940
	Oracle Corp.	58,681		2,774,438
	Paycom Software, Inc. *@	2,140		171,906
	Pegasystems, Inc.	255		12,023
	Proofpoint, Inc. *	470		41,741
	PTC, Inc. *	1,937		117,712
	RealPage, Inc. *	1,381		61,178
	Red Hat, Inc. *	5,521		663,072
	Salesforce.com, Inc. *	6,165		630,248
	ServiceNow, Inc. *	2,389		311,502
	Splunk, Inc. *	1,731		143,396
	SS&C Technologies Holdings, Inc.	3,681		149,007
	Symantec Corp.	8,291		232,645
	Synchronoss Technologies, Inc. *@	800		7,152
	Synopsys, Inc. *	1,913		163,064
	Tableau Software, Inc., Class A *	700		48,440
	Take-Two Interactive Software, Inc. *	2,296		252,055
	TiVo Corp.	1,378		21,497
	Tyler Technologies, Inc. *@	739		130,840
	Ultimate Software Group, Inc. *	338		73,762
	Verint Systems, Inc. *	1,038		43,440
	VMware, Inc., Class A *@	1,425		178,581
	Workday, Inc., Class A *	523		53,210
	Zynga, Inc., Class A *	18,104		72,416
				41,345,985
Specialty Retail — 3.3%
	Aaron's, Inc.	2,250		89,662
	Abercrombie & Fitch Co., Class A	2,500		43,575
	Advance Auto Parts, Inc.	1,480		147,541
	American Eagle Outfitters, Inc.	7,250		136,300
	Asbury Automotive Group, Inc. *	1,176		75,264
	Ascena Retail Group, Inc. *@	5,534		13,005
	AutoNation, Inc. *@	2,137		109,692
	AutoZone, Inc. *	902		641,656
	Bed Bath & Beyond, Inc.	6,603		145,200
	Best Buy Co., Inc.	10,525		720,647
	Buckle, Inc. (The) @	900		21,375
	Burlington Stores, Inc. *	2,269		279,155
	Carmax, Inc. *	6,946		445,447
	Chico's FAS, Inc.	2,500		22,050
	Children's Place, Inc. (The)	873		126,891
	Conn's, Inc. *@	600		21,330
	Dick's Sporting Goods, Inc.	3,200		91,968
	DSW, Inc., Class A @	2,490		53,311
	Express, Inc. *	2,600		26,390
	Five Below, Inc. *	2,400		159,168
	Foot Locker, Inc.	5,009		234,822
	GameStop Corp., Class A	3,588		64,405
	Gap, Inc. (The)	11,172		380,518
	Genesco, Inc. *	700		22,750
	Group 1 Automotive, Inc.	680		48,260
	Guess?, Inc.	1,900		32,072
	Hibbett Sports, Inc. *@	557		11,363
	Home Depot, Inc. (The)	55,479		10,514,935
	L Brands, Inc. @	7,995		481,459
	Lithia Motors, Inc., Class A @	900		102,231
	Lowe's Cos., Inc.	39,150		3,638,601
	Michaels Companies, Inc. (The) *	1,873		45,308
	Monro, Inc. @	783		44,592
	Murphy USA, Inc. *	1,648		132,433
	O'Reilly Automotive, Inc. *	4,146		997,279
	Office Depot, Inc.	14,200		50,268
	Penske Auto Group, Inc.	1,318		63,066
	Pier 1 Imports, Inc.	3,200		13,248
	RH *@	1,047		90,262
	Ross Stores, Inc.	18,898		1,516,564
	Sally Beauty Holdings, Inc. *@	5,102		95,713
	Signet Jewelers Ltd. @	1,778		100,546
	Sleep Number Corp. *	1,700		63,903
	Tiffany & Co.	4,018		417,671
	TJX Cos., Inc.	29,456		2,252,206
	Tractor Supply Co.	6,137		458,741
	Ulta Salon Cosmetics & Fragrance, Inc. *	2,100		469,686
	Urban Outfitters, Inc. *	3,400		119,204
	Vitamin Shoppe, Inc. *@	676		2,974
	Williams-Sonoma, Inc. @	4,000		206,800
				26,041,507
Textiles, Apparel & Luxury Goods — 0.8%
	Carter's, Inc.	2,255		264,940
	Columbia Sportswear Co.	858		61,673
	Deckers Outdoor Corp. *	977		78,404
	G-III Apparel Group Ltd. *	1,271		46,887
	Hanesbrands, Inc. @	17,125		358,084
	Lululemon Athletica, Inc. *	3,400		267,206
	Michael Kors Holdings Ltd. *	6,973		438,950
	NIKE, Inc., Class B	51,936		3,248,597
	PVH Corp.	1,062		145,717
	Ralph Lauren Corp.	1,100		114,059
	Skechers U.S.A., Inc., Class A *	3,300		124,872
	Steven Madden Ltd. *	1,944		90,785
	Tapestry, Inc.	7,810		345,436
	Under Armour, Inc., Class A *@	5,400		77,922
	Under Armour, Inc., Class C *@	5,438		72,434
	VF Corp.	11,674		863,876
	Wolverine World Wide, Inc.	2,452		78,170
				6,678,012
Thrifts & Mortgage Finance — 0.1%
	BofI Holding, Inc. *@	2,000		59,800
	Capitol Federal Financial, Inc.	4,009		53,761

The accompanying notes are an integral part of these financial statements.

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
THRIFTS & MORTGAGE FINANCE (Continued)
	Essent Group Ltd. *	2,110	$	91,616
	LendingTree, Inc. *@	202		68,771
	New York Community Bancorp, Inc.	6,265		81,570
	Northwest Bancshares, Inc.	1,400		23,422
	Ocwen Financial Corp. *@	3,425		10,720
	PHH Corp. *	405		4,172
	Provident Financial Services, Inc.	800		21,576
	TFS Financial Corp.	1,093		16,329
	Washington Federal, Inc.	1,476		50,553
				482,290
Tobacco — 1.5%
	Altria Group, Inc.	91,208		6,513,163
	Philip Morris International, Inc.	48,640		5,138,816
	Vector Group Ltd. @	1,758		39,344
				11,691,323
Trading Companies & Distributors — 0.4%
	Air Lease Corp.	3,438		165,334
	Applied Industrial Technologies, Inc.	1,164		79,268
	Beacon Roofing Supply, Inc. *	2,207		140,718
	DXP Enterprises, Inc. *	295		8,723
	Fastenal Co.	11,794		645,014
	GATX Corp. @	1,100		68,376
	HD Supply Holdings, Inc. *	5,845		233,975
	Herc Holdings, Inc. *	1,316		82,395
	MRC Global, Inc. *	1,502		25,414
	MSC Industrial Direct Co., Class A	1,509		145,860
	NOW, Inc. *	2,249		24,807
	SiteOne Landscape Supply, Inc. *	1,507		115,587
	Textainer Group Holdings Ltd. *	52		1,118
	Triton International Ltd. *	773		28,949
	United Rentals, Inc. *	4,075		700,533
	Univar, Inc. *	2,106		65,202
	Veritiv Corp. *	226		6,531
	Watsco, Inc.	1,100		187,044
	WESCO International, Inc. *	1,300		88,595
	WW Grainger, Inc.	2,476		584,955
				3,398,398
Transportation Infrastructure — 0.0%
	Macquarie Infrastructure Corp.	1,285		82,497
Water Utilities — 0.1%
	American States Water Co.	180		10,424
	American Water Works Co., Inc.	5,104		466,965
	Aqua America, Inc. @	3,898		152,918
	California Water Service Group	788		35,736
				666,043
Wireless Telecommunication Services — 0.1%
	Shenandoah Telecommunications Co.	510		17,238
	Sprint Corp. *@	15,015		88,438
	T-Mobile US, Inc. *	11,985		761,167
	Telephone & Data Systems, Inc.	2,613		72,642
	United States Cellular Corp. *	400		15,052
				954,537
	TOTAL COMMON STOCKS
	(Identified Cost $337,815,538)			753,713,755
RIGHTS AND WARRANTS — 0.0%
Biotechnology — 0.0%
	Dyax Corp. CVR ¶§~*	1,858		6,262
Consumer Discretionary — 0.0%
	Safeway Casa Ley CVR ¶§~*	10,610		—
	Safeway PDC, LLC CVR ¶§~*	10,610		3
				3
TOTAL RIGHTS AND WARRANTS
	(Identified Cost $13,348)			6,265
MUTUAL FUNDS — 4.2%
Other — 4.2%
	DFA U.S. Micro Cap Portfolio	1,488,736		32,796,858
	TOTAL MUTUAL FUNDS
	(Identified Cost $19,603,544)			32,796,858
SHORT-TERM INVESTMENTS — 0.7%
Investment Company — 0.1%
	State Street Institutional U.S. Government
	Money Market Fund, 1.210%	1,075,348		1,075,348
Collateral For Securities On Loan — 0.6%
	State Street Navigator Securities Lending
	Government Money Market Portfolio,
	1.300%	4,802,814		4,802,814
	TOTAL SHORT-TERM INVESTMENTS
	(Identified Cost $5,878,162)			5,878,162
	Total Investments — 100.3%
	(Identified Cost $363,310,592)#			792,395,040
	Liabilities, Less Cash and Other Assets — (0.3%)			(2,183,684	)
Net Assets — 100.0%			$	790,211,356

	†	See Note 1
	*	Non-income producing security
	@	A portion or all of the security were held on loan. As of December 31, 2017, the market value of the securities on loan was $16,782,196.
	¶	Contingent value rights based on future performance.
	§	Fair valued security. Fair values are determined pursuant to procedures approved by the Fund's Board of Trustees. See Note 1
	~	Bankrupt/delisted security
	#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $363,310,592. Net unrealized appreciation aggregated $429,084,448 of which $436,442,801 related to appreciated investment securities and $7,358,353 related to depreciated investment securities.
CVR — Contingent Value Rights

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 99.6%
Aerospace & Defense — 1.9%
	AAR Corp.	10,684	$	419,774
	Aerojet Rocketdyne Holdings, Inc. *	44,002		1,372,862
	Aerovironment, Inc. *	17,026		956,180
	Arotech Corp. *	9,457		33,572
	Astronics Corp. *	10,379		430,417
	Axon Enterprise, Inc. *@	16,262		430,943
	CPI Aerostructures, Inc. *	1,342		12,011
	Cubic Corp.	6,500		383,175
	Curtiss-Wright Corp.	2,920		355,802
	Ducommun, Inc. *	3,610		102,705
	Engility Holdings, Inc. *	5,031		142,730
	Esterline Technologies Corp. *	7,884		588,935
	Innovative Solutions & Support, Inc. *	3,248		9,549
	KEYW Holding Corp. (The) *@	5,770		33,870
	KLX, Inc. *	9,583		654,040
	Kratos Defense & Security Solutions, Inc. *@	17,754		188,015
	Maxar Technologies Ltd.	4,797		308,543
	Mercury Systems, Inc. *	8,267		424,510
	Moog, Inc., Class A *	8,996		781,303
	National Presto Industries, Inc. @	918		91,295
	SIFCO Industries, Inc. *	1,187		7,894
	Sparton Corp. *	2,587		59,656
	Triumph Group, Inc. @	9,084		247,085
	Vectrus, Inc. *	3,560		109,826
	Wesco Aircraft Holdings, Inc. *	23,396		173,130
				8,317,822
Air Freight & Logistics — 0.6%
	Air Transport Services Group, Inc. *	40,870		945,732
	Atlas Air Worldwide Holdings, Inc. *	6,536		383,336
	Echo Global Logistics, Inc. *	7,622		213,416
	Forward Air Corp.	6,951		399,266
	HUB Group, Inc., Class A *	11,481		549,940
	Radiant Logistics, Inc. *	9,354		43,028
				2,534,718
Airlines — 0.7%
	Allegiant Travel Co. @	10,848		1,678,728
	Copa Holdings SA, Class A	162		21,718
	Hawaiian Holdings, Inc.	12,656		504,342
	Skywest, Inc.	12,976		689,025
	Spirit Airlines, Inc. *	3,315		148,678
				3,042,491
Auto Components — 1.8%
	American Axle & Manufacturing Holdings, Inc. *	47,677		811,939
	Cooper Tire & Rubber Co. @	15,551		549,728
	Cooper-Standard Holdings, Inc. *	4,019		492,328
	Dana, Inc.	32,214		1,031,170
	Dorman Products, Inc. *	8,380		512,353
	Fox Factory Holding Corp. *	8,405		326,534
	Gentherm, Inc. *	9,644		306,197
	Horizon Global Corp. *	7,663		107,435
	LCI Industries	6,043		785,590
	Modine Manufacturing Co. *	11,514		232,583
	Motorcar Parts of America, Inc. *	5,329		133,172
	Shiloh Industries, Inc. *	5,537		45,403
	Standard Motor Products, Inc.	8,131		365,163
	Stoneridge, Inc. *	10,350		236,601
	Strattec Security Corp.	1,541		67,111
	Superior Industries International, Inc.	6,600		98,010
	Tenneco, Inc.	10,923		639,433
	Tower International, Inc.	6,346		193,870
	Visteon Corp. *	7,099		888,369
	VOXX International Corp. *	7,684		43,030
				7,866,019
Automobiles — 0.1%
	Winnebago Industries, Inc.	10,123		562,839
Beverages — 0.4%
	Boston Beer Co., Inc. (The), Class A *@	1,852		353,917
	Coca-Cola Bottling Co., Consolidated	1,354		291,462
	Craft Brew Alliance, Inc. *	7,942		152,486
	MGP Ingredients, Inc. @	5,354		411,615
	National Beverage Corp. @	4,756		463,425
	Primo Water Corp. *	5,815		73,095
				1,746,000
Biotechnology — 1.1%
	Achillion Pharmaceuticals, Inc. *	23,152		66,678
	Acorda Therapeutics, Inc. *	14,991		321,557
	Adamas Pharmaceuticals, Inc. *@	2,419		81,980
	Aduro Biotech, Inc. *@	1,186		8,895
	Adverum Biotechnologies, Inc. *	8,282		28,987
	Affimed NV *	5,000		6,500
	Alder Biopharmaceuticals, Inc. *	9,365		107,229
	Aldeyra Therapeutics, Inc. *	2,489		16,925
	AMAG Pharmaceuticals, Inc. *	2,638		34,953
	Amicus Therapeutics, Inc. *@	1,429		20,563
	Applied Genetic Technologies Corp. *	2,241		8,068
	Aptevo Therapeutics, Inc. *	11,461		48,595
	Ardelyx, Inc. *	10,642		70,237
	Arrowhead Pharmaceuticals, Inc. *@	4,070		14,978
	BioSpecifics Technologies Corp. *	2,311		100,136
	BioTime, Inc. *	3,419		7,351
	Calithera Biosciences, Inc. *	1,072		8,951
	Cascadian Therapeutics, Inc. *	9,050		33,485
	Catabasis Pharmaceuticals, Inc. *@	11,146		16,608
	Celldex Therapeutics, Inc. *@	18,659		52,992
	Cellular Biomedicine Group, Inc. *	2,000		22,700
	Chimerix, Inc. *	13,027		60,315
	Concert Pharmaceuticals, Inc. *	1,380		35,701
	Emergent BioSolutions, Inc. *	9,812		455,964
	Enanta Pharmaceuticals, Inc. *	5,023		294,750
	Five Prime Therapeutics, Inc. *	4,603		100,898
	Infinity Pharmaceuticals, Inc. *@	12,966		26,321
	Insys Therapeutics, Inc. *@	11,096		106,743
	Intellia Therapeutics, Inc. *@	1,694		32,559
	Intrexon Corp. *@	872		10,045
	Karyopharm Therapeutics, Inc. *	2,354		22,598
	Ligand Pharmaceuticals, Inc. *@	2,408		329,727
	MacroGenics, Inc. *@	2,337		44,403
	MEI Pharma, Inc. *	13,204		27,728
	Merrimack Pharmaceuticals, Inc. @	4,336		44,444
	Mirati Therapeutics, Inc. *@	1,950		35,587
	Myriad Genetics, Inc. *@	19,349		664,541
	Neurotrope, Inc. *	2,588		18,219
	OPKO Health, Inc. *@	23,063		113,009
	Otonomy, Inc. *	10,515		58,358
	PDL BioPharma, Inc. *	34,589		94,774
	Proteostasis Therapeutics, Inc. *@	1,871		10,908
	PTC Therapeutics, Inc. *	4,332		72,258
	Recro Pharma, Inc. *@	2,713		25,095
	Repligen Corp. *	5,344		193,880
	Retrophin, Inc. *@	8,973		189,061
	Selecta Biosciences, Inc. *@	2,153		21,121
	Sierra Oncology, Inc. *@	10,246		38,218
	Spectrum Pharmaceuticals, Inc. *	19,009		360,221

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
BIOTECHNOLOGY (Continued)
	Stemline Therapeutics, Inc. *@	1,284	$	20,030
	Syndax Pharmaceuticals, Inc. *	6,974		61,092
	Trevena, Inc. *@	13,678		21,885
	Verastem, Inc. *	9,653		29,635
	Versartis, Inc. *@	11,623		25,571
	Zafgen, Inc. *	3,913		18,078
				4,742,105
Building Products — 2.3%
	AAON, Inc.	14,109		517,800
	Advanced Drainage Systems, Inc.	21,084		502,853
	American Woodmark Corp. *	9,748		1,269,677
	Apogee Enterprises, Inc.	8,824		403,522
	Armstrong Flooring, Inc. *	11,195		189,419
	Armstrong World Industries, Inc. *	33,680		2,039,324
	Builders FirstSource, Inc. *	24,352		530,630
	Continental Building Products, Inc. *	9,323		262,442
	CSW Industrials, Inc. *	1,329		61,068
	Gibraltar Industries, Inc. *	8,000		264,000
	Griffon Corp.	12,945		263,431
	Insteel Industries, Inc.	6,600		186,912
	Masonite International Corp. *	169		12,531
	NCI Building Systems, Inc. *	12,026		232,102
	Patrick Industries, Inc. *	5,679		394,407
	PGT Innovations, Inc. *	20,987		353,631
	Ply Gem Holdings, Inc. *	10,477		193,825
	Quanex Building Products Corp.	9,211		215,537
	Simpson Manufacturing Co., Inc.	12,600		723,366
	Trex Co., Inc. *	8,162		884,679
	Universal Forest Products, Inc.	16,500		620,730
				10,121,886
Capital Markets — 2.3%
	Artisan Partners Asset Management, Inc.,
	Class A	29,908		1,181,366
	BGC Partners, Inc., Class A	58,742		887,592
	Cohen & Steers, Inc.	7,453		352,452
	Cowen Group, Inc., Class A *@	6,131		83,688
	Diamond Hill Investment Group, Inc.	739		152,722
	Donnelley Financial Solutions, Inc. *	6,035		117,622
	Evercore, Inc., Class A	9,789		881,010
	Federated Investors, Inc., Class B	20,626		744,186
	Financial Engines, Inc.	3,187		96,566
	Gain Capital Holdings, Inc. @	9,997		99,970
	GAMCO Investors, Inc., Class A	1,700		50,405
	Greenhill & Co., Inc. @	8,659		168,851
	Houlihan Lokey, Inc.	1,002		45,521
	Interactive Brokers Group, Inc., Class A	16,151		956,301
	Intl FCStone, Inc. *	3,859		164,123
	Investment Technology Group, Inc.	9,451		181,932
	Janus Henderson Group PLC	18,497		707,695
	Ladenburg Thalmann Financial Services, Inc.	31,382		99,167
	LPL Financial Holdings, Inc.	3,619		206,790
	Manning & Napier, Inc.	2,524		9,086
	Moelis & Co., Class A	3,839		186,191
	Morningstar, Inc.	268		25,988
	Newsstar Financial, Inc. §~	13,144		7,098
	OM Asset Management PLC	5,801		97,167
	Oppenheimer Holdings, Inc., Class A	3,360		90,048
	Piper Jaffray Cos.	4,033		347,846
	PJT Partners, Inc., Class A	288		13,133
	Pzena Investment Management, Inc., Class A	4,481		47,812
	Safeguard Scientifics, Inc. *	11,498		128,778
	Silvercrest Asset Management Group, Inc.,
	Class A	759		12,182
	Stifel Financial Corp.	12,616		751,409
	Virtus Investment Partners, Inc.	2,370		272,668
	Waddell & Reed Financial, Inc., Class A @	3,742		83,596
	Westwood Holdings Group, Inc.	2,775		183,733
	WisdomTree Investments, Inc. @	32,848		412,242
				9,846,936
Chemicals — 2.8%
	A. Schulman, Inc.	6,827		254,306
	Advanced Emissions Solutions, Inc. @	2,266		21,890
	AdvanSix, Inc. *	13,006		547,162
	AgroFresh Solutions, Inc. *	3,359		24,857
	American Vanguard Corp.	8,647		169,914
	Balchem Corp.	11,654		939,312
	Cabot Corp.	9,527		586,768
	Calgon Carbon Corp.	17,075		363,698
	Chase Corp.	2,101		253,171
	Core Molding Technologies, Inc.	1,500		32,550
	Ferro Corp. *	25,241		595,435
	Flotek Industries, Inc. *@	13,537		63,082
	FutureFuel Corp.	10,473		147,565
	GCP Applied Technologies, Inc. *	2,256		71,966
	H.B. Fuller Co.	13,143		708,013
	Hawkins, Inc.	2,398		84,410
	Innophos Holdings, Inc.	5,400		252,342
	Innospec, Inc.	5,850		413,010
	Intrepid Potash, Inc. *@	16,871		80,306
	KMG Chemicals, Inc.	3,001		198,306
	Koppers Holdings, Inc. *	4,597		233,987
	Kraton Corp. *	6,776		326,400
	Kronos Worldwide, Inc.	10,857		279,785
	LSB Industries, Inc. *	5,556		48,671
	Minerals Technologies, Inc.	9,665		665,435
	Northern Technologies International Corp.	800		19,840
	Omnova Solutions, Inc. *	17,097		170,970
	Platform Specialty Products Corp. *	30,212		299,703
	PolyOne Corp.	24,872		1,081,932
	Quaker Chemical Corp.	3,387		510,726
	Rayonier Advanced Materials, Inc.	16,098		329,204
	Sensient Technologies Corp.	9,729		711,676
	Stepan Co.	3,991		315,169
	Trecora Resources *	5,488		74,088
	Tredegar Corp.	8,700		167,040
	Trinseo SA	8,507		617,608
	Tronox Ltd., Class A	12,458		255,514
	Valhi, Inc.	1,644		10,143
				11,925,954
Commercial Banks — 10.3%
	1st Source Corp.	7,264		359,205
	Access National Corp.	2,671		74,361
	Allegiance Bancshares, Inc. *	1,614		60,767
	American National Bankshares, Inc.	2,923		111,951
	Ameris Bancorp	16,383		789,661
	AmeriServ Financial, Inc.	4,400		18,260
	Arrow Financial Corp.	5,484		186,182
	Associated Banc-Corp.	35,548		902,919
	Atlantic Capital Bancshares, Inc. *	2,502		44,035
	Banc of California, Inc. @	8,558		176,723

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
COMMERCIAL BANKS (Continued)
	Bancfirst Corp.	10,446	$	534,313
	Bancorp, Inc. (The) *	19,032		188,036
	BancorpSouth Bank	31,791		999,827
	Bank of Hawaii Corp.	11,233		962,668
	Bank of Marin Bancorp	1,050		71,400
	BankUnited, Inc.	3,750		152,700
	Bankwell Financial Group, Inc.	326		11,195
	Banner Corp.	7,617		419,849
	Bar Harbor Bankshares	2,331		62,960
	BCB Bancorp, Inc.	878		12,731
	Berkshire Hills Bancorp, Inc.	6,936		253,858
	Blue Hills Bancorp, Inc.	2,898		58,250
	Boston Private Financial Holdings, Inc.	21,569		333,241
	Bridge Bancorp, Inc.	2,975		104,125
	Brookline Bancorp, Inc.	18,706		293,684
	Bryn Mawr Bank Corp.	5,616		248,227
	C&F Financial Corp.	962		55,796
	Camden National Corp.	4,996		210,481
	Capital City Bank Group, Inc.	1,890		43,357
	Carolina Financial Corp.	3,717		138,087
	Cathay General Bancorp	21,914		924,113
	CenterState Bank Corp.	9,586		246,648
	Central Pacific Financial Corp.	7,849		234,136
	Central Valley Community Bancorp	2,688		54,244
	Century Bancorp, Inc., Class A	630		49,298
	Chemical Financial Corp.	13,615		727,994
	Citizens & Northern Corp.	852		20,448
	City Holding Co.	5,429		366,295
	CNB Financial Corp.	3,444		90,371
	CoBiz Financial, Inc.	14,871		297,271
	Columbia Banking System, Inc.	18,941		822,797
	Community Bank System, Inc.	10,370		557,387
	Community Trust Bancorp, Inc.	4,634		218,261
	Connectone Bancorp, Inc.	6,144		158,208
	Customers Bancorp, Inc. *	5,348		138,995
	CVB Financial Corp.	27,325		643,777
	Eagle Bancorp, Inc. *	6,777		392,388
	Enterprise Bancorp, Inc.	331		11,271
	Enterprise Financial Services Corp.	3,837		173,241
	Equity Bancshares, Inc., Class A *	1,895		67,102
	Farmers & Merchants Bancorp,
	Inc./Archbold OH	826		33,701
	Farmers Capital Bank Corp.	2,209		85,046
	Farmers National Banc Corp.	6,489		95,713
	FB Financial Corp. *	630		26,454
	FCB Financial Holdings, Inc., Class A *	6,632		336,906
	Fidelity Southern Corp.	8,150		177,670
	Financial Institutions, Inc.	4,240		131,864
	First Bancorp, Inc.	3,442		93,726
	First Bancorp/Puerto Rico *	35,131		179,168
	First Bancorp/Southern Pines NC	4,576		161,579
	First Busey Corp.	7,922		237,185
	First Business Financial Services, Inc.	551		12,188
	First Citizens Bancshares, Inc., Class A	295		118,885
	First Commonwealth Financial Corp.	23,740		339,957
	First Community Bancshares, Inc.	5,007		143,851
	First Connecticut Bancorp, Inc.	2,243		58,654
	First Financial Bancorp	15,133		398,755
	First Financial Bankshares, Inc. @	13,804		621,870
	First Financial Corp.	2,698		122,354
	First Financial Northwest, Inc.	2,239		34,727
	First Foundation, Inc. *	6,207		115,078
	First Horizon National Corp.	23,860		476,954
	First Internet Bancorp	1,284		48,985
	First Interstate Bancsystem, Inc.	6,668		267,053
	First Merchants Corp.	8,330		350,360
	First Mid-Illinois Bancshares, Inc.	500		19,270
	First Midwest Bancorp, Inc.	18,632		447,354
	First of Long Island Corp. (The)	4,768		135,888
	Flushing Financial Corp.	7,140		196,350
	FNB Corp.	24,564		339,474
	Franklin Financial Network, Inc. *	2,740		93,434
	Fulton Financial Corp.	44,920		804,068
	German American Bancorp, Inc.	4,050		143,086
	Glacier Bancorp, Inc.	19,481		767,357
	Great Southern Bancorp, Inc.	3,742		193,274
	Great Western Bancorp, Inc.	1,271		50,586
	Green Bancorp, Inc. *	4,023		81,667
	Guaranty Bancorp	4,394		121,494
	Hancock Holding Co.	6,326		313,137
	Hanmi Financial Corp.	8,053		244,409
	HarborOne Bancorp, Inc. *	4,196		80,395
	Heartland Financial USA, Inc.	5,400		289,710
	Heritage Commerce Corp.	10,531		161,335
	Heritage Financial Corp.	5,733		176,576
	Hilltop Holdings, Inc.	25,969		657,795
	Home Bancshares, Inc.	14,737		342,635
	HomeTrust Bancshares, Inc. *	2,644		68,083
	Hope Bancorp, Inc.	34,605		631,541
	Horizon Bancorp	5,148		143,114
	Howard Bancorp, Inc. *	499		10,978
	Iberiabank Corp.	4,398		340,845
	Independent Bank Corp.	4,840		338,074
	Independent Bank Group, Inc.	500		33,800
	International Bancshares Corp.	15,750		625,275
	Lakeland Bancorp, Inc.	6,732		129,591
	Lakeland Financial Corp.	5,055		245,117
	LegacyTexas Financial Group, Inc.	11,096		468,362
	Live Oak Bancshares, Inc.	500		11,925
	Macatawa Bank Corp.	10,065		100,650
	MainSource Financial Group, Inc.	5,357		194,513
	MB Financial, Inc.	15,151		674,523
	MBT Financial Corp.	5,012		53,127
	Mercantile Bank Corp.	3,660		129,454
	Midland States Bancorp, Inc.	739		24,003
	Midsouth Bancorp, Inc.	3,530		46,773
	MidWestOne Financial Group, Inc.	613		20,554
	National Bank Holdings Corp., Class A	5,759		186,764
	National Commerce Corp. *	1,943		78,206
	NBT Bancorp, Inc.	10,025		368,920
	Nicolet Bankshares, Inc. *	766		41,931
	Northeast Bancorp	2,190		50,698
	Northrim Bancorp, Inc.	2,391		80,935
	OFG Bancorp	10,569		99,349
	Old Line Bancshares, Inc. @	3,023		88,997
	Old National Bancorp	29,051		506,940
	Old Second Bancorp, Inc.	2,244		30,631
	Opus Bank *	4,401		120,147
	Pacific Mercantile Bancorp *	2,500		21,875
	Pacific Premier Bancorp, Inc. *	6,414		256,560
	Park National Corp.	3,450		358,800
	Peapack Gladstone Financial Corp.	4,278		149,816
	Penns Woods Bancorp, Inc.	1,159		53,986
	People's Utah Bancorp	3,598		109,019
	Peoples Bancorp, Inc.	4,491		146,496
	Popular, Inc.	10,180		361,288
	Preferred Bank	3,769		221,542
	Premier Financial Bancorp, Inc.	1,381		27,730
	QCR Holdings, Inc.	2,502		107,211
	Renasant Corp.	8,712		356,234

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
COMMERCIAL BANKS (Continued)
	Republic Bancorp, Inc., Class A	7,344	$	279,219
	Republic First Bancorp, Inc. *@	3,546		29,964
	S&T Bancorp, Inc.	8,302		330,503
	Sandy Spring Bancorp, Inc.	6,300		245,826
	Seacoast Banking Corp. of Florida *	5,668		142,890
	Select Bancorp, Inc. *	200		2,526
	ServisFirst Bancshares, Inc.	6,378		264,687
	Sierra Bancorp	4,469		118,697
	Simmons First National Corp., Class A	7,935		453,088
	South State Corp.	6,422		559,677
	Southern First Bancshares, Inc. *	1,759		72,559
	Southern National Bancorp of Virginia, Inc.	3,875		62,116
	Southside Bancshares, Inc.	6,142		206,863
	State Bank Financial Corp.	4,771		142,367
	Sterling Bancorp	62,083		1,527,242
	Stock Yards Bancorp, Inc.	4,336		163,467
	Summit Financial Group, Inc.	392		10,317
	Sun Bancorp, Inc.	2,417		58,733
	TCF Financial Corp.	43,473		891,196
	Texas Capital Bancshares, Inc. *	3,548		315,417
	Tompkins Financial Corp.	2,420		196,867
	TowneBank	6,582		202,396
	Trico Bancshares	5,350		202,551
	TriState Capital Holdings, Inc. *	6,155		141,565
	Triumph Bancorp, Inc. *	3,664		115,416
	Trustmark Corp.	17,352		552,835
	UMB Financial Corp.	10,571		760,266
	Umpqua Holdings Corp.	1,184		24,627
	Union Bankshares Corp.	9,688		350,415
	United Bankshares, Inc.	11,450		397,887
	United Community Banks, Inc.	15,888		447,088
	Univest Corp. of Pennsylvania	6,110		171,385
	Valley National Bancorp	57,348		643,445
	Veritex Holdings, Inc. *	5,336		147,220
	Washington Trust Bancorp, Inc.	3,000		159,750
	Webster Financial Corp.	4,408		247,553
	WesBanco, Inc.	8,410		341,866
	West Bancorp, Inc.	4,863		122,304
	Westamerica Bancorp @	6,329		376,892
	Wintrust Financial Corp.	5,592		460,613
	Xenith Bankshares, Inc. *	460		15,562
				44,471,305
Commercial Services & Supplies — 2.9%
	ABM Industries, Inc.	14,023		528,947
	ACCO Brands Corp. *	26,340		321,348
	ARC Document Solutions, Inc. *	18,534		47,262
	Brady Corp., Class A	11,602		439,716
	Brink's Co. (The)	9,808		771,890
	Casella Waste Systems, Inc., Class A *	18,957		436,390
	Ceco Environmental Corp.	8,520		43,708
	Civeo Corp. *	11,885		32,446
	Clean Harbors, Inc. *	12,448		674,682
	Command Security Corp. *	4,300		13,201
	Covanta Holding Corp. @	31,607		534,158
	Deluxe Corp.	9,989		767,555
	Ennis, Inc.	5,800		120,350
	Essendant, Inc.	9,904		91,810
	Fuel Tech, Inc. *	4,500		5,040
	Healthcare Services Group, Inc.	7,841		413,377
	Heritage-Crystal Clean, Inc. *	1,729		37,606
	Herman Miller, Inc.	14,286		572,154
	HNI Corp.	11,460		442,012
	Hudson Technologies, Inc. *@	13,375		81,186
	Innerworkings, Inc. *	15,650		156,969
	Interface, Inc.	19,482		489,972
	Intersections, Inc. *	3,104		7,015
	Kimball International, Inc., Class B	14,278		266,570
	Knoll, Inc.	12,851		296,087
	LSC Communications, Inc.	4,787		72,523
	Matthews International Corp., Class A	8,044		424,723
	Mcgrath Rentcorp	5,300		248,994
	Mobile Mini, Inc.	13,404		462,438
	MSA Safety, Inc.	8,900		689,928
	Multi-Color Corp.	4,321		323,427
	NL Industries, Inc. *	7,891		112,447
	Performant Financial Corp. *	7,231		11,931
	Pitney Bowes, Inc.	4,177		46,699
	Quad/Graphics, Inc.	4,591		103,757
	SP Plus Corp. *	5,458		202,492
	Steelcase, Inc., Class A	26,730		406,296
	Team, Inc. *@	6,603		98,385
	Tetra Tech, Inc.	15,308		737,080
	UniFirst Corp.	3,000		494,700
	US Ecology, Inc.	5,445		277,695
	Viad Corp.	4,500		249,300
	Virco Manufacturing Corp.	2,494		12,595
	VSE Corp.	1,700		82,331
				12,649,192
Communications Equipment — 1.4%
	Acacia Communications, Inc. *@	545		19,745
	ADTRAN, Inc.	21,239		410,975
	Applied Optoelectronics, Inc. *@	4,381		165,689
	Black Box Corp.	7,012		24,893
	CalAmp Corp. *	13,756		294,791
	Calix, Inc. *	13,728		81,682
	Ciena Corp. *	27,004		565,194
	Clearfield, Inc. *	3,231		39,580
	Communications Systems, Inc.	1,418		5,161
	Comtech Telecommunications Corp.	5,725		126,637
	Digi International, Inc. *	7,600		72,580
	EMCORE Corp. *	4,428		28,561
	Extreme Networks, Inc. *	21,668		271,283
	Finisar Corp. *@	25,900		527,065
	Harmonic, Inc. *@	24,420		102,564
	Infinera Corp. *@	22,351		141,482
	InterDigital, Inc.	9,067		690,452
	KVH Industries, Inc. *	5,534		57,277
	Lantronix, Inc. *	1,100		2,222
	Lumentum Holdings, Inc. *@	5,125		250,612
	NETGEAR, Inc. *	8,512		500,080
	NetScout Systems, Inc. *	12,873		391,983
	Network-1 Technologies, Inc.	1,343		3,223
	Oclaro, Inc. *	7,713		51,986
	Optical Cable Corp. *	374		916
	PC-Tel, Inc. *	4,100		30,217
	Plantronics, Inc.	8,418		424,099
	Relm Wireless Corp.	2,000		7,100
	Ribbon Communications, Inc. *	17,744		137,161
	Tessco Technologies, Inc.	1,000		20,150
	Ubiquiti Networks, Inc. *@	663		47,086
	Viasat, Inc. *@	4,646		347,753

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
COMMUNICATIONS EQUIPMENT (Continued)
	Viavi Solutions, Inc. *	33,947	$	296,697
				6,136,896
Computers & Peripherals — 0.3%
	AstroNova, Inc.	1,572		22,008
	Avid Technology, Inc. *	25,911		139,660
	Concurrent Computer Corp.	1,362		7,859
	Cray, Inc. *	9,970		241,274
	Diebold Nixdorf, Inc. @	5,013		81,962
	Eastman Kodak Co. *	8,012		24,837
	Electronics for Imaging, Inc. *	11,783		347,952
	Intevac, Inc. *	4,883		33,449
	Quantum Corp. *	2,787		15,691
	Super Micro Computer, Inc. *	11,510		240,847
	Transact Technologies, Inc.	1,515		20,074
	Xplore Technologies Corp. *	3,115		8,815
				1,184,428
Construction & Engineering — 1.6%
	Aegion Corp. *	10,061		255,851
	Ameresco, Inc., Class A *	4,779		41,099
	Argan, Inc.	10,079		453,555
	Comfort Systems USA, Inc.	8,930		389,794
	Dycom Industries, Inc. *@	9,800		1,092,014
	EMCOR Group, Inc.	9,013		736,813
	Goldfield Corp. (The) *	15,457		75,739
	Granite Construction, Inc.	9,422		597,637
	Great Lakes Dredge & Dock Corp. *	17,460		94,284
	HC2 Holdings, Inc. *	1,781		10,597
	IES Holdings, Inc. *	6,062		104,570
	KBR, Inc.	27,114		537,671
	Layne Christensen Co. *@	4,110		51,581
	MasTec, Inc. *	9,580		468,941
	MYR Group, Inc. *	5,036		179,936
	Northwest Pipe Co. *	3,331		63,755
	NV5 Global, Inc. *	2,453		132,830
	Orion Marine Group, Inc. *	7,085		55,476
	Primoris Services Corp.	16,878		458,913
	Sterling Construction Co., Inc. *	8,350		135,938
	Tutor Perini Corp. *	11,189		283,641
	Valmont Industries, Inc.	5,127		850,313
				7,070,948
Construction Materials — 0.1%
	Summit Materials, Inc., Class A *	5,300		166,632
	United States Lime & Minerals, Inc.	1,679		129,451
	US Concrete, Inc. *@	3,055		255,551
				551,634
Consumer Finance — 1.1%
	Asta Funding, Inc. *	306		2,264
	Atlanticus Holdings Corp. *	5,476		13,142
	Consumer Portfolio Services, Inc. *	7,272		30,179
	Encore Capital Group, Inc. *@	6,224		262,030
	Enova International, Inc. *	21,491		326,663
	Ezcorp, Inc., Class A *	15,362		187,416
	FirstCash, Inc.	13,459		907,810
	Green Dot Corp., Class A *	12,631		761,144
	LendingClub Corp. *@	41,757		172,457
	Navient Corp.	25,118		334,572
	Nelnet, Inc., Class A	9,709		531,859
	OneMain Holdings, Inc. *	8,524		221,539
	PRA Group, Inc. *@	12,540		416,328
	Regional Management Corp. *	3,472		91,348
	World Acceptance Corp. *@	3,636		293,498
				4,552,249
Containers & Packaging — 0.3%
	Greif, Inc., Class A	5,187		314,228
	Greif, Inc., Class B	1,193		82,735
	Myers Industries, Inc.	11,631		226,804
	Silgan Holdings, Inc.	16,218		476,647
	UFP Technologies, Inc. *	552		15,346
				1,115,760
Distributors — 0.1%
	Core-Mark Holding Co., Inc.	11,498		363,107
	Weyco Group, Inc.	690		20,507
				383,614
Diversified Consumer Services — 1.1%
	Adtalem Global Education, Inc.	15,103		635,081
	American Public Education, Inc. *	5,797		145,215
	Ascent Capital Group, Inc., Class A *	4,020		46,190
	Bridgepoint Education, Inc. *	11,558		95,931
	Cambium Learning Group, Inc. *	1,370		7,782
	Capella Education Co.	2,356		182,354
	Career Education Corp. *	24,321		293,798
	Carriage Services, Inc.	5,101		131,147
	Collectors Universe, Inc.	1,790		51,266
	Graham Holdings Co., Class B	523		292,017
	Grand Canyon Education, Inc. *	8,480		759,214
	Houghton Mifflin Harcourt Co. *	29,496		274,313
	K12, Inc. *	9,589		152,465
	Regis Corp. *	11,780		180,941
	Sotheby's *	14,093		727,199
	Strayer Education, Inc.	3,342		299,376
	Universal Technical Institute, Inc. *	5,900		14,160
	Weight Watchers International, Inc. *@	6,398		283,303
				4,571,752
Diversified Financial Services — 0.1%
	A-Mark Precious Metals, Inc.	1,856		27,302
	Cannae Holdings, Inc. *	4,237		72,156
	Marlin Business Services Corp.	4,578		102,547
	On Deck Capital, Inc. *	14,292		82,036
				284,041
Diversified Telecommunication Services — 0.6%
	Alaska Communications Systems Group, Inc. *	2,448		6,561
	ATN International, Inc.	3,600		198,936
	Cincinnati Bell, Inc. *	10,380		216,423
	Cogent Communications Holdings, Inc. @	11,951		541,380
	Consolidated Communications Holdings, Inc.	15,524		189,238
	General Communication, Inc., Class A *	14,261		556,464
	Hawaiian Telcom Holdco, Inc. *	187		5,771
	IDT Corp., Class B *	9,094		96,396
	Intelsat SA *	9,952		33,737
	Orbcomm, Inc. *	17,501		178,160
	Straight Path Communications, Inc., Class B *	668		121,436
	Vonage Holdings Corp. *	52,898		537,973
	Windstream Holdings, Inc.	23,864		44,148
				2,726,623
Electric Utilities — 0.9%
	Allete, Inc.	9,735		723,895
	El Paso Electric Co.	11,005		609,127
	Genie Energy Ltd., Class B	4,900		21,364
	Hawaiian Electric Industries, Inc.	8,115		293,357
	IDACORP, Inc.	3,214		293,631
	MGE Energy, Inc.	7,437		469,275
	Otter Tail Corp.	8,433		374,847
	PNM Resources, Inc.	21,371		864,457

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
ELECTRIC UTILITIES (Continued)
	Portland General Electric Co.	6,399	$	291,666
	Spark Energy, Inc., Class A @	2,000		24,800
				3,966,419
Electrical Equipment — 0.9%
	Allied Motion Technologies, Inc.	6,429		212,736
	Atkore International Group, Inc. *	7,584		162,677
	AZZ, Inc.	8,357		427,043
	Babcock & Wilcox Enterprises, Inc. *@	10,768		61,162
	Encore Wire Corp.	5,600		272,440
	EnerSys	12,221		850,948
	Espey Manufacturing & Electronics Corp.	565		13,539
	Generac Holdings, Inc. *	15,486		766,867
	General Cable Corp. @	4,032		119,347
	LSI Industries, Inc.	7,700		52,976
	Powell Industries, Inc.	2,971		85,119
	Preformed Line Products Co.	1,398		99,328
	Regal Beloit Corp.	6,159		471,779
	Sunrun, Inc. *@	8,165		48,174
	Thermon Group Holdings, Inc. *	7,945		188,058
	TPI Composites, Inc. *	564		11,539
	Ultralife Corp. *	3,600		23,580
	Vicor Corp. *	7,156		149,560
				4,016,872
Electronic Equipment, Instruments & Components — 3.4%
	ADDvantage Technologies Group, Inc. *	2,400		3,576
	Anixter International, Inc. *	18,453		1,402,428
	AVX Corp.	15,493		268,029
	Badger Meter, Inc.	7,209		344,590
	Bel Fuse, Inc., Class B	3,168		79,754
	Belden, Inc.	10,515		811,443
	Benchmark Electronics, Inc. *	7,901		229,919
	Coherent, Inc. *	1,549		437,159
	Control4 Corp. *	5,091		151,508
	CTS Corp.	9,329		240,222
	Daktronics, Inc.	16,961		154,854
	Data I/O Corp. *	4,458		53,674
	Electro Scientific Industries, Inc. *	9,034		193,599
	ePlus, Inc. *	2,400		180,480
	Fabrinet *	9,194		263,868
	FARO Technologies, Inc. *	4,728		222,216
	Frequency Electronics, Inc. *	1,400		13,104
	I.D. Systems, Inc. *	2,750		19,085
	IEC Electronics Corp. *	800		3,296
	II-VI, Inc. *	15,632		733,922
	Insight Enterprises, Inc. *	9,272		355,025
	IntriCon Corp. *	1,000		19,800
	Itron, Inc. *	9,844		671,361
	Kemet Corp. *	14,541		218,987
	Key Tronic Corp. *	1,700		11,611
	Kimball Electronics, Inc. *	5,879		107,292
	Knowles Corp. *	11,920		174,747
	LightPath Technologies, Inc., Class A *	4,009		8,900
	Littelfuse, Inc. @	4,383		867,045
	Maxwell Technologies, Inc. *@	7,005		40,349
	Mesa Laboratories, Inc. @	965		119,949
	Methode Electronics, Inc.	9,109		365,271
	MTS Systems Corp.	3,800		204,060
	NAPCO Security Technologies, Inc. *	4,850		42,438
	Novanta, Inc. *	4,922		246,100
	OSI Systems, Inc. *	5,346		344,175
	PAR Technology Corp. *	3,000		28,050
	Park Electrochemical Corp.	6,063		119,138
	PC Connection, Inc.	6,200		162,502
	PCM, Inc. *	5,438		53,836
	Perceptron, Inc. *	1,100		10,725
	Plexus Corp. *	9,156		555,952
	Richardson Electronics Ltd.	2,700		18,198
	Rogers Corp. *	3,742		605,905
	Sanmina Corp. *	18,814		620,862
	Scansource, Inc. *	6,290		225,182
	SYNNEX Corp.	2,378		323,289
	Systemax, Inc.	8,559		284,758
	Tech Data Corp. *	4,480		438,906
	TTM Technologies, Inc. *	20,635		323,350
	VeriFone Systems, Inc. *	15,616		276,559
	Vishay Intertechnology, Inc. @	34,292		711,559
	Vishay Precision Group, Inc. *	4,187		105,303
	Wayside Technology Group, Inc.	315		5,261
				14,473,171
Energy Equipment & Services — 1.9%
	Archrock, Inc.	21,713		227,986
	Basic Energy Services, Inc. *	5,232		122,795
	Bristow Group, Inc. @	10,459		140,883
	CARBO Ceramics, Inc. *@	4,505		45,861
	Dawson Geophysical Co. *	5,627		27,966
	Diamond Offshore Drilling, Inc. *@	20,830		387,230
	Dril-Quip, Inc. *	9,369		446,901
	ENGlobal Corp. *	6,183		5,441
	Ensco PLC @	34,810		205,727
	Era Group, Inc. *	7,292		78,389
	Exterran Corp. *	10,006		314,589
	Forum Energy Technologies, Inc. *	20,325		316,054
	Frank's International NV	12,111		80,538
	Geospace Technologies Corp. *	3,691		47,872
	Gulf Island Fabrication, Inc.	4,700		63,097
	Helix Energy Solutions Group, Inc. *	26,950		203,203
	Hornbeck Offshore Services, Inc. *	9,178		28,544
	ION Geophysical Corp. *	2,918		57,631
	Matrix Service Co. *	8,676		154,433
	McDermott International, Inc. *	57,118		375,836
	Mitcham Industries, Inc. *	2,601		8,245
	Nabors Industries Ltd. @	50,859		347,367
	Natural Gas Services Group, Inc. *	3,685		96,547
	Newpark Resources, Inc. *	35,623		306,358
	Noble Corp. PLC *@	39,010		176,325
	Oceaneering International, Inc.	19,653		415,464
	Oil States International, Inc. *	8,226		232,796
	Parker Drilling Co. *	20,864		20,864
	Patterson-UTI Energy, Inc.	11,937		274,670
	PHI, Inc. *	2,300		26,611
	Pioneer Energy Services Corp. *	25,231		76,955
	RigNet, Inc. *	4,177		62,446
	Rowan Cos. PLC, Class A *	21,417		335,390
	SEACOR Holdings, Inc. *	5,019		231,978
	SEACOR Marine Holdings, Inc. *	5,046		59,038
	Superior Energy Services, Inc. *	33,300		320,679
	Tetra Technologies, Inc. *	28,389		121,221
	Transocean Ltd. *@	46,000		491,280
	U.S. Silica Holdings, Inc. @	13,442		437,672
	Unit Corp. *	11,332		249,304
	Weatherford International PLC *	80,186		334,376

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
ENERGY EQUIPMENT & SERVICES (Continued)
	Willbros Group, Inc. *	23,656	$	33,592
				7,990,154
Food & Staples Retailing — 0.6%
	Andersons, Inc. (The)	8,013		249,605
	Chefs' Warehouse Inc. (The) *@	5,365		109,982
	Ingles Markets, Inc., Class A	2,846		98,472
	Natural Grocers by Vitamin Cottage, Inc. *@	5,474		48,883
	Performance Food Group Co. *	1,300		43,030
	PriceSmart, Inc.	7,615		655,651
	Smart & Final Stores, Inc. *@	5,407		46,230
	SpartanNash Co.	9,360		249,725
	Sprouts Farmers Market, Inc. *	8,100		197,235
	SUPERVALU, Inc. *	9,132		197,251
	United Natural Foods, Inc. *	8,554		421,456
	Village Super Market, Inc., Class A	2,388		54,757
	Weis Markets, Inc.	6,390		264,482
				2,636,759
Food Products — 1.9%
	B&G Foods, Inc. @	25,570		898,786
	Bob Evans Farms, Inc.	8,100		638,442
	Cal-Maine Foods, Inc. *@	10,494		466,458
	Calavo Growers, Inc. @	5,041		425,460
	Coffee Holding Co., Inc. *	600		2,562
	Darling Ingredients, Inc. *	37,935		687,762
	Dean Foods Co.	22,086		255,314
	Farmer Bros. Co. *	5,356		172,195
	Fresh Del Monte Produce, Inc.	15,520		739,838
	Hostess Brands, Inc. *@	4,664		69,074
	J&J Snack Foods Corp.	4,900		743,967
	John B. Sanfilippo & Son, Inc.	2,650		167,613
	Lancaster Colony Corp.	5,159		666,594
	Landec Corp. *	9,074		114,332
	Lifeway Foods, Inc. *	3,800		30,400
	Limoneira Co.	810		18,144
	Rocky Mountain Chocolate Factory, Inc.	1,260		14,868
	Sanderson Farms, Inc. @	6,194		859,603
	Seneca Foods Corp., Class A *	2,138		65,744
	Snyders-Lance, Inc.	21,037		1,053,533
	Tootsie Roll Industries, Inc. @	7,968		290,035
	TreeHouse Foods, Inc. *	225		11,129
				8,391,853
Gas Utilities — 1.1%
	Chesapeake Utilities Corp.	3,064		240,677
	New Jersey Resources Corp.	19,713		792,463
	Northwest Natural Gas Co.	6,553		390,886
	ONE Gas, Inc.	9,334		683,809
	RGC Resources, Inc.	600		16,248
	South Jersey Industries, Inc.	17,084		533,533
	Southwest Gas Corp.	4,554		366,506
	Spire, Inc.	11,344		852,502
	WGL Holdings, Inc.	12,415		1,065,704
				4,942,328
Health Care Equipment & Supplies — 3.1%
	Abaxis, Inc.	9,248		457,961
	Accuray, Inc. *@	10,900		46,870
	Analogic Corp.	6,995		585,831
	Angiodynamics, Inc. *	8,960		149,005
	Anika Therapeutics, Inc. *	7,748		417,695
	Atrion Corp.	799		503,849
	Bovie Medical Corp. *@	4,900		12,740
	Cantel Medical Corp.	10,310		1,060,590
	Conmed Corp.	7,150		364,436
	CryoLife, Inc. *	15,417		295,236
	Cutera, Inc. *	2,299		104,260
	Electromed, Inc. *	2,929		17,779
	Exactech, Inc. *	3,310		163,680
	FONAR Corp. *	2,792		67,985
	Globus Medical, Inc., Class A *	18,325		753,157
	Haemonetics Corp. *	12,126		704,278
	Halyard Health, Inc. *	9,638		445,083
	Heska Corp. *	939		75,317
	ICU Medical, Inc. *	3,065		662,040
	Inogen, Inc. *	3,628		432,022
	Integer Holdings Corp. *	7,181		325,299
	Integra LifeSciences Holdings Corp. *@	16,147		772,795
	Invacare Corp. @	13,305		224,189
	Iridex Corp. *	671		5,113
	Lantheus Holdings, Inc. *	10,055		205,625
	LeMaitre Vascular, Inc.	7,298		232,368
	LivaNova PLC *	5,780		461,938
	Masimo Corp. *	3,574		303,075
	Meridian Bioscience, Inc.	16,609		232,526
	Merit Medical Systems, Inc. *	11,860		512,352
	Misonix, Inc. *	2,200		21,120
	Natus Medical, Inc. *	8,702		332,416
	Neogen Corp. *	5,318		437,193
	NuVasive, Inc. *	9,715		568,230
	Nuvectra Corp. *	5,996		46,529
	OraSure Technologies, Inc. *	18,774		354,078
	Orthofix International NV *	3,915		214,151
	Quidel Corp. *	7,203		312,250
	ReShape Lifesciences, Inc. *@	3,850		5,698
	RTI Surgical, Inc. *	15,534		63,689
	SeaSpine Holdings Corp. *	2,964		29,996
	SurModics, Inc. *	4,940		138,320
	Utah Medical Products, Inc.	831		67,643
	Varex Imaging Corp. *	2,200		88,374
				13,274,781
Health Care Providers & Services — 2.5%
	Acadia Healthcare Co., Inc. *@	4,406		143,768
	Aceto Corp.	11,515		118,950
	Addus HomeCare Corp. *	5,080		176,784
	Almost Family, Inc. *	8,729		483,150
	Amedisys, Inc. *	15,044		792,969
	American Renal Associates Holdings, Inc. *	1,051		18,287
	AMN Healthcare Services, Inc. *	12,615		621,289
	BioScrip, Inc. *@	9,341		27,182
	BioTelemetry, Inc. *	11,444		342,176
	Brookdale Senior Living, Inc. *	15,683		152,125
	Capital Senior Living Corp. *@	12,392		167,168
	Chemed Corp.	5,293		1,286,305
	Civitas Solutions, Inc. *	1,907		32,610
	Community Health Systems, Inc. *@	25,424		108,306
	Corvel Corp. *	5,100		269,790
	Cross Country Healthcare, Inc. *	8,267		105,487
	CynergisTek, Inc. *@	2,905		11,765
	Digirad Corp.	2,100		5,408
	Diplomat Pharmacy, Inc. *	7,290		146,310
	Encompass Health Corp.	549		27,126
	Ensign Group, Inc. (The)	12,996		288,511
	Five Star Senior Living, Inc. *	6,297		9,446
	HealthEquity, Inc. *@	7,664		357,602
	Kindred Healthcare, Inc.	20,494		198,792
	LHC Group, Inc. *	3,800		232,750
	LifePoint Health, Inc. *	11,178		556,664
	Magellan Health, Inc. *	7,580		731,849

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
HEALTH CARE PROVIDERS & SERVICES (Continued)
	Medcath Corp. *§~	3,122	$	—
	Molina Healthcare, Inc. *@	3,960		303,653
	National Healthcare Corp.	3,000		182,820
	National Research Corp., Class A	4,425		165,052
	National Research Corp., Class B	737		41,913
	Owens & Minor, Inc.	18,476		348,827
	Patterson Cos., Inc. @	6,194		223,789
	Providence Service Corp. (The) *	4,498		266,911
	Psychemedics Corp.	2,439		50,146
	Quorum Health Corp. *	14,428		90,031
	R1 RCM, Inc. *	2,835		12,502
	RadNet, Inc. *	14,650		147,965
	Select Medical Holdings Corp. *	33,903		598,388
	Surgery Partners, Inc. *@	1,077		13,032
	Tenet Healthcare Corp. *@	16,691		253,036
	Tivity Health, Inc. *	9,735		355,814
	Triple-S Management Corp., Class B *	5,369		133,420
	U.S. Physical Therapy, Inc.	2,650		191,330
				10,791,198
Health Care Technology — 0.7%
	Allscripts Healthcare Solutions, Inc. *	105,209		1,530,791
	Computer Programs & Systems, Inc. @	2,670		80,234
	Cotiviti Holdings, Inc. *	1,600		51,536
	Evolent Health, Inc., Class A *@	3,026		37,220
	HealthStream, Inc. *	6,492		150,355
	HMS Holdings Corp. *	20,254		343,305
	Micron Solutions, Inc. *	200		700
	Omnicell, Inc. *	8,824		427,964
	Quality Systems, Inc. *	14,776		200,658
	Simulations Plus, Inc.	2,102		33,842
				2,856,605
Hotels, Restaurants & Leisure — 3.7%
	BBX Capital Corp.	2,088		16,641
	Belmond Ltd., Class A *	24,303		297,712
	Biglari Holdings, Inc. *	37		15,333
	BJ's Restaurants, Inc.	7,002		254,873
	Bloomin' Brands, Inc.	29,474		628,975
	Bojangles', Inc. *@	1,155		13,629
	Bravo Brio Restaurant Group, Inc. *	4,343		10,857
	Brinker International, Inc. @	14,448		561,160
	Buffalo Wild Wings, Inc. *	4,994		780,812
	Carrols Restaurant Group, Inc. *	12,779		155,265
	Cheesecake Factory, Inc. (The) @	14,048		676,833
	Choice Hotels International, Inc.	10,908		846,461
	Churchill Downs, Inc.	1,540		358,358
	Chuy's Holdings, Inc. *	5,251		147,291
	Cracker Barrel Old Country Store, Inc. @	3,034		482,072
	Dave & Buster's Entertainment, Inc. *	8,459		466,683
	Del Frisco's Restaurant Group, Inc. *	5,669		86,452
	Del Taco Restaurants, Inc. *	9,850		119,382
	Denny's Corp. *	20,830		275,789
	DineEquity, Inc. @	3,801		192,825
	Diversified Restaurant Holdings, Inc. *	2,700		4,320
	Dover Motorsports, Inc.	4,000		7,800
	Drive Shack, Inc.	17,393		96,183
	El Pollo Loco Holdings, Inc. *	4,284		42,412
	Eldorado Resorts, Inc. *@	7,498		248,559
	Extended Stay America, Inc.	8,000		152,000
	Famous Dave's of America, Inc. *@	2,145		14,157
	Fiesta Restaurant Group, Inc. *@	8,023		152,437
	Habit Restaurants, Inc. (The), Class A *@	2,386		22,786
	ILG, Inc.	23,589		671,815
	Jack in the Box, Inc.	8,843		867,587
	Jamba, Inc. *	1,275		10,276
	Kona Grill, Inc. *@	3,389		5,931
	La Quinta Holdings, Inc. *	25,321		467,426
	Lindblad Expeditions Holdings, Inc. *	8,076		79,064
	Luby's, Inc. *	7,260		19,166
	Marcus Corp. (The)	4,500		123,075
	Marriott Vacations Worldwide Corp.	8,070		1,091,145
	Monarch Casino & Resort, Inc. *	1,490		66,782
	Nathan's Famous, Inc.	1,882		142,091
	Papa John's International, Inc. @	12,036		675,340
	Papa Murphy's Holdings, Inc. *@	672		3,615
	Penn National Gaming, Inc. *	8,352		261,668
	Pinnacle Entertainment, Inc. *	8,372		274,016
	Planet Fitness, Inc. Class A *	14,937		517,268
	Playa Hotels & Resorts NV *	1,000		10,790
	Potbelly Corp. *@	6,131		75,411
	RCI Hospitality Holdings, Inc.	2,209		61,808
	Red Lion Hotels Corp. *	7,375		72,644
	Red Robin Gourmet Burgers, Inc. *@	4,318		243,535
	Ruth's Hospitality Group, Inc.	10,142		219,574
	SeaWorld Entertainment, Inc. *@	5,114		69,397
	Shake Shack, Inc., Class A *@	2,567		110,894
	Sonic Corp. @	13,946		383,236
	Speedway Motorsports, Inc.	10,200		192,474
	Texas Roadhouse, Inc.	19,524		1,028,524
	Town Sports International Holdings, Inc. *	8,000		44,400
	Wendy's Co. (The)	49,718		816,370
	Wingstop, Inc. @	2,302		89,732
				15,823,111
Household Durables — 2.0%
	AV Homes, Inc. *	3,547		59,058
	Bassett Furniture Industries, Inc.	2,600		97,760
	Beazer Homes USA, Inc. *	1,643		31,562
	CalAtlantic Group, Inc.	2,560		144,358
	Cavco Industries, Inc. *	2,107		321,528
	Century Communities, Inc. *	5,284		164,332
	CSS Industries, Inc.	2,100		58,443
	Dixie Group, Inc. (The) *	1,200		4,620
	Ethan Allen Interiors, Inc.	8,443		241,470
	Flexsteel Industries, Inc.	1,493		69,843
	Green Brick Partners, Inc. *	4,024		45,471
	Hamilton Beach Brands Holding Co., Class A	1,000		25,690
	Hamilton Beach Brands Holding Co., Class B §~	1,000		25,690
	Helen of Troy Ltd. *	7,429		715,784
	Hooker Furniture Corp.	2,500		106,125
	Hovnanian Enterprises, Inc., Class A *@	27,718		92,855
	Installed Building Products, Inc. *	6,010		456,460
	iRobot Corp. *@	6,627		508,291
	KB Home	22,962		733,636
	La-Z-Boy, Inc.	12,996		405,475
	Libbey, Inc.	10,530		79,186
	Lifetime Brands, Inc.	3,200		52,800
	M.D.C. Holdings, Inc.	13,406		427,383
	M/I Homes, Inc. *	5,641		194,050
	Meritage Homes Corp. *	10,314		528,077
	New Home Co., Inc. (The) *	3,433		43,016
	Orleans Homebuilders, Inc. @*§~	4,953		—
	Pico Holdings, Inc. *	5,843		74,790

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
HOUSEHOLD DURABLES (Continued)
	Skyline Corp. *	2,906	$	37,342
	Taylor Morrison Home Corp., Class A *	9,818		240,246
	Tempur Sealy International, Inc. *@	6,494		407,109
	TopBuild Corp. *	4,720		357,493
	TRI Pointe Group, Inc. *	35,203		630,838
	Tupperware Brands Corp.	11,712		734,342
	Universal Electronics, Inc. *	3,832		181,062
	William Lyon Homes, Class A *@	5,111		148,628
	ZAGG, Inc. *	6,699		123,597
				8,568,410
Household Products — 0.5%
	Central Garden & Pet Co. *	3,317		129,098
	Central Garden & Pet Co., Class A *	7,899		297,871
	Energizer Holdings, Inc. @	11,460		549,851
	HRG Group, Inc. *	23,417		396,918
	Orchids Paper Products Co. @	2,619		33,523
	WD-40 Co. @	4,702		554,836
				1,962,097
Independent Power Producers & Energy Traders — 0.3%
	Atlantica Yield PLC	1,800		38,178
	Dynegy, Inc. *	18,757		222,270
	NRG Yield, Inc., Class A	6,260		118,001
	NRG Yield, Inc., Class C	11,658		220,336
	Ormat Technologies, Inc.	8,775		561,249
	Pattern Energy Group, Inc. @	15,022		322,823
	TerraForm Power, Inc., Class A	1,900		22,724
				1,505,581
Industrial Conglomerates — 0.1%
	Raven Industries, Inc.	9,755		335,084
Insurance — 3.7%
	Ambac Financial Group, Inc. *	10,842		173,255
	American Equity Investment Life Holding Co.	24,199		743,635
	American National Insurance Co.	1,527		195,838
	AMERISAFE, Inc.	10,856		668,730
	AmTrust Financial Services, Inc. @	13,360		134,535
	Argo Group International Holdings Ltd.	9,260		570,879
	Aspen Insurance Holdings Ltd.	18,484		750,450
	Atlas Financial Holdings, Inc. *	393		8,076
	Baldwin & Lyons, Inc., Class B	1,818		43,541
	Citizens, Inc. *@	11,958		87,891
	CNO Financial Group, Inc.	45,733		1,129,148
	Crawford & Co., Class A	10,528		89,488
	Crawford & Co., Class B	4,945		47,571
	Donegal Group, Inc., Class A	5,984		103,523
	eHealth, Inc. *	7,651		132,898
	EMC Insurance Group, Inc.	5,700		163,533
	Employers Holdings, Inc.	8,660		384,504
	Enstar Group Ltd. *	1,353		271,615
	FBL Financial Group, Inc., Class A	6,600		459,690
	Federated National Holding Co.	4,368		72,378
	First Acceptance Corp. *	15,539		18,491
	First American Financial Corp.	1,690		94,708
	Genworth Financial, Inc., Class A *	14,918		46,395
	Global Indemnity Ltd. *	3,524		148,078
	Greenlight Capital Re Ltd., Class A *	7,915		159,092
	Hallmark Financial Services, Inc. *	5,700		59,451
	Hanover Insurance Group, Inc. (The)	1,341		144,935
	HCI Group, Inc.	3,571		106,773
	Health Insurance Innovations, Inc., Class A *@	1,669		41,642
	Heritage Insurance Holdings, Inc.	3,869		69,719
	Horace Mann Educators Corp.	12,678		559,100
	Independence Holding Co.	3,520		96,624
	Infinity Property & Casualty Corp.	3,270		346,620
	Investors Title Co.	292		57,918
	James River Group Holdings Ltd.	500		20,005
	Kemper Corp.	15,116		1,041,492
	Kingstone Cos, Inc.	2,759		51,869
	Kinsale Capital Group, Inc.	400		18,000
	Maiden Holdings Ltd.	18,753		123,770
	MBIA, Inc. *@	29,495		215,903
	Mercury General Corp.	12,090		646,090
	National General Holdings Corp.	17,357		340,891
	Navigators Group, Inc. (The)	7,200		350,640
	Primerica, Inc.	10,078		1,023,421
	ProAssurance Corp.	11,624		664,312
	RLI Corp.	13,400		812,844
	Safety Insurance Group, Inc.	3,996		321,278
	Selective Insurance Group, Inc.	13,673		802,605
	State Auto Financial Corp.	9,900		288,288
	Stewart Information Services Corp.	5,055		213,827
	Third Point Reinsurance Ltd. *	655		9,596
	Unico American Corp. *	1,700		14,535
	United Fire Group, Inc.	6,100		278,038
	United Insurance Holdings Corp. @	9,819		169,378
	Universal Insurance Holdings, Inc. @	12,620		345,157
	White Mountains Insurance Group Ltd.	28		23,836
	WMIH Corp. *	2,492		2,116
				15,958,615
Internet & Catalog Retail — 0.6%
	1-800-Flowers.com, Inc., Class A *	13,623		145,766
	CafePress, Inc. *	2,322		4,272
	FTD Cos., Inc. *	7,083		50,927
	Gaia, Inc. *	1,407		17,447
	Groupon, Inc. *@	8,500		43,350
	HSN, Inc.	13,151		530,643
	Liberty Expedia Holdings, Inc., Class A *	1,528		67,736
	Liberty TripAdvisor Holdings, Inc., Class A *	11,266		106,182
	NutriSystem, Inc.	7,768		408,597
	Overstock.com, Inc. *@	5,460		348,894
	PetMed Express, Inc. @	6,065		275,958
	Shutterfly, Inc. *	10,368		515,808
	US Auto Parts Network, Inc. *	8,193		20,646
				2,536,226
Internet Software & Services — 1.1%
	Actua Corp. *	15,134		236,090
	ANGI Homeservices, Inc., Class A *	9,408		98,408
	Appfolio, Inc., Class A *	830		34,445
	Bazaarvoice, Inc. *	14,998		81,739
	Blucora, Inc. *	10,400		229,840
	Carbonite, Inc. *	7,780		195,278
	Cimpress NV *	6,915		828,970
	CommerceHub, Inc., Series A *@	998		21,946
	comScore, Inc. *@	511		14,563
	DHI Group, Inc. *	22,738		43,202
	eGain Corp. *	6,644		34,881
	Endurance International Group Holdings, Inc. *	1,300		10,920
	Envestnet, Inc. *	1,760		87,736
	GTT Communications, Inc. *@	7,000		328,650
	Internap Corp. *@	3,748		58,881
	j2 Global, Inc.	3,394		254,652
	Leaf Group Ltd. *	803		7,950
	Limelight Networks, Inc. *	35,094		154,765
	Liquidity Services, Inc. *	10,209		49,514

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
INTERNET SOFTWARE & SERVICES (Continued)
	Meet Group, Inc. (The) *	26,238	$	73,991
	NIC, Inc.	16,603		275,610
	QuinStreet, Inc. *	9,301		77,942
	Qumu Corp. *	3,400		7,786
	Reis, Inc.	2,969		61,310
	Shutterstock, Inc. *	8,258		355,342
	Stamps.com, Inc. *	2,543		478,084
	TechTarget, Inc. *	3,038		42,289
	Travelzoo, Inc. *	2,482		16,009
	Web.com Group, Inc. *	14,150		308,470
	XO Group, Inc. *	6,998		129,183
	Yelp, Inc. *	812		34,072
	YuMe, Inc.	5,826		27,848
				4,660,366
IT Services — 1.8%
	Acxiom Corp. *	28,195		777,054
	Blackhawk Network Holdings, Inc. *	14,227		507,193
	CACI International, Inc., Class A *	6,111		808,791
	Cardtronics PLC, Class A *	12,536		232,167
	Cass Information Systems, Inc.	3,034		176,609
	Computer Task Group, Inc. *	4,027		20,538
	Conduent, Inc. *	2,319		37,475
	Convergys Corp.	23,323		548,090
	CoreLogic, Inc. *	4,731		218,620
	CSG Systems International, Inc.	9,625		421,767
	DST Systems, Inc.	829		51,456
	Edgewater Technology, Inc. *	2,300		14,352
	Everi Holdings, Inc. *	4,400		33,176
	ExlService Holdings, Inc. *	9,262		558,962
	Hackett Group, Inc. (The)	7,235		113,662
	Luxoft Holding, Inc. *	600		33,420
	Mantech International Corp., Class A	5,860		294,113
	ModusLink Global Solutions, Inc. *	6,850		17,057
	MoneyGram International, Inc. *	9,824		129,480
	Perficient, Inc. *	9,692		184,826
	PFSweb, Inc. *	6,940		51,564
	PRGX Global, Inc. *	4,649		33,008
	Science Applications International Corp.	11,148		853,602
	ServiceSource International, Inc. *	6,250		19,312
	StarTek, Inc. *	4,049		40,369
	SYKES Enterprises, Inc. *	11,744		369,349
	Syntel, Inc. *	3,554		81,706
	TeleTech Holdings, Inc.	11,596		466,739
	Travelport Worldwide Ltd.	21,337		278,875
	Virtusa Corp. *	8,976		395,662
				7,768,994
Leisure Equipment & Products — 0.3%
	American Outdoor Brands Corp. *@	11,555		148,366
	Callaway Golf Co.	21,022		292,836
	Clarus Corp. *	1,900		14,915
	Escalade, Inc.	1,950		23,985
	Jakks Pacific, Inc. *@	5,129		12,053
	Johnson Outdoors, Inc., Class A	1,000		62,090
	Malibu Boats, Inc., Class A *	3,460		102,866
	Marine Products Corp.	4,652		59,267
	MCBC Holdings, Inc. *	1,368		30,397
	Nautilus, Inc. *	12,721		169,825
	Sturm Ruger & Co., Inc. @	5,480		306,058
	Vista Outdoor, Inc. *	12,035		175,350
				1,398,008
Life Sciences Tools & Services — 0.2%
	Bruker Corp.	1,584		54,363
	Cambrex Corp. *	7,454		357,792
	Enzo Biochem, Inc. *	17,038		138,860
	Harvard Bioscience, Inc. *	10,123		33,406
	Luminex Corp.	10,896		214,651
	NeoGenomics, Inc. *@	4,184		37,070
				836,142
Machinery — 5.5%
	Actuant Corp., Class A	17,446		441,384
	Alamo Group, Inc.	7,427		838,285
	Albany International Corp., Class A	20,398		1,253,457
	Altra Industrial Motion Corp.	10,262		517,205
	American Railcar Industries, Inc.	5,900		245,676
	Astec Industries, Inc.	9,806		573,651
	Barnes Group, Inc.	13,567		858,384
	Blue Bird Corp. *	895		17,811
	Briggs & Stratton Corp.	11,874		301,243
	Chart Industries, Inc. *	6,711		314,477
	CIRCOR International, Inc.	4,836		235,416
	Columbus McKinnon Corp.	5,051		201,939
	Commercial Vehicle Group, Inc. *	10,768		115,110
	DMC Global, Inc.	3,484		87,274
	Douglas Dynamics, Inc.	6,768		255,830
	Eastern Co. (The)	1,272		33,263
	EnPro Industries, Inc.	6,545		612,023
	ESCO Technologies, Inc.	5,761		347,100
	Federal Signal Corp.	16,169		324,835
	Franklin Electric Co., Inc.	13,269		609,047
	FreightCar America, Inc.	1,800		30,744
	Global Brass & Copper Holdings, Inc.	6,925		229,218
	Gorman-Rupp Co. (The)	6,055		188,977
	Graham Corp.	2,904		60,781
	Greenbrier Cos., Inc. (The) @	6,690		356,577
	Hardinge, Inc.	2,800		48,776
	Harsco Corp. *	19,401		361,829
	Hillenbrand, Inc.	18,458		825,073
	Hurco Cos., Inc.	1,000		42,200
	Hyster-Yale Materials Handling, Inc.	2,000		170,320
	ITT, Inc.	4,948		264,075
	John Bean Technologies Corp.	8,769		971,605
	Kadant, Inc.	3,400		341,360
	Kennametal, Inc.	14,622		707,851
	Key Technology, Inc. *	1,100		20,273
	LB Foster Co., Class A *	3,471		94,238
	Lindsay Corp.	2,399		211,592
	Lydall, Inc. *	3,767		191,175
	Manitex International, Inc. *	1,300		12,480
	Manitowoc Co., Inc. (The) *	8,164		321,172
	Meritor, Inc. *	24,635		577,937
	Milacron Holdings Corp. *	1,600		30,624
	Miller Industries, Inc.	2,958		76,316
	Mueller Industries, Inc.	17,150		607,625
	Mueller Water Products, Inc., Class A	41,506		520,070
	Navistar International Corp. *	6,372		273,231
	NN, Inc.	7,482		206,503
	Omega Flex, Inc.	1,359		97,046
	Park-Ohio Holdings Corp.	3,551		163,168
	Perma-Pipe International Holdings, Inc. *	1,900		17,100
	Proto Labs, Inc. *	5,527		569,281
	RBC Bearings, Inc. *	5,604		708,346
	Rexnord Corp. *	24,475		636,840
	Spartan Motors, Inc.	10,808		170,226

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
MACHINERY (Continued)
	SPX Corp. *	6,967	$	218,694
	SPX FLOW, Inc. *	6,533		310,644
	Standex International Corp.	3,825		389,576
	Sun Hydraulics Corp.	6,200		401,078
	Tennant Co.	4,939		358,818
	Terex Corp.	11,454		552,312
	Timken Co. (The)	12,770		627,646
	Titan International, Inc.	17,688		227,821
	Trimas Corp. *	12,810		342,668
	Twin Disc, Inc. *	4,162		110,584
	Wabash National Corp. @	20,517		445,219
	Watts Water Technologies, Inc., Class A	7,800		592,410
	Welbilt, Inc. *	32,658		767,790
	Xerium Technologies, Inc. *	2,113		9,001
				23,642,300
Marine — 0.2%
	Costamare, Inc.	3,487		20,120
	Kirby Corp. *	4,949		330,593
	Matson, Inc.	10,731		320,213
				670,926
Media — 1.6%
	AH Belo Corp., Class A	3,878		18,614
	AMC Entertainment Holdings, Inc., Class A @	6,707		101,276
	AMC Networks, Inc., Class A *	4,654		251,688
	Ballantyne Strong, Inc. *	3,464		16,108
	Beasley Broadcast Group, Inc., Class A	1,657		22,204
	Central European Media Enterprises Ltd.,
	Class A *@	4,512		20,981
	Clear Channel Outdoor Holdings, Inc., Class A	3,398		15,631
	Entercom Communications Corp., Class A	4,435		47,898
	Entravision Communications Corp., Class A	18,319		130,981
	EW Scripps Co. (The), Class A *	22,625		353,629
	Gannett Co., Inc.	19,363		224,417
	Global Eagle Entertainment, Inc. *@	2,123		4,862
	Gray Television, Inc. *	15,960		267,330
	Harte-Hanks, Inc. *	17,183		16,301
	Hemisphere Media Group, Inc. *	1,930		22,291
	IMAX Corp. *	4,817		111,514
	John Wiley & Sons, Inc., Class A	10,578		695,503
	McClatchy Co. (The), Class A *@	73		652
	Meredith Corp. @	9,652		637,515
	MSG Networks, Inc., Class A *	12,409		251,282
	National CineMedia, Inc.	15,891		109,012
	New Media Investment Group, Inc.	5,037		84,521
	New York Times Co. (The), Class A	39,959		739,241
	Nexstar Media Group, Inc. @	11,553		903,445
	Reading International, Inc., Class A *	4,951		82,682
	Regal Entertainment Group, Class A	21,594		496,878
	Saga Communications, Inc., Class A	1,116		45,142
	Salem Media Group, Inc., Class A	1,041		4,684
	Scholastic Corp.	7,171		287,629
	Sinclair Broadcast Group, Inc., Class A	17,023		644,321
	Time, Inc.	21,924		404,498
	tronc, Inc. *	3,517		61,864
	Urban One, Inc. *@	6,700		11,725
	World Wrestling Entertainment, Inc., Class A @	625		19,112
				7,105,431
Metals & Mining — 1.5%
	AK Steel Holding Corp. *@	41,100		232,626
	Allegheny Technologies, Inc. *@	14,458		349,016
	Ampco-Pittsburgh Corp.	5,993		74,313
	Carpenter Technology Corp.	9,739		496,592
	Century Aluminum Co. *	20,953		411,517
	Cleveland-Cliffs, Inc. *@	42,686		307,766
	Coeur Mining, Inc. *	19,749		148,118
	Commercial Metals Co.	31,042		661,815
	Compass Minerals International, Inc. @	7,742		559,360
	Ferroglobe PLC	24,025		389,205
	Ferroglobe Representation & Warranty
	Insurance Trust *§~	24,025		—
	Friedman Industries, Inc.	700		3,976
	Gold Resource Corp.	16,351		71,944
	Haynes International, Inc.	3,445		110,412
	Hecla Mining Co.	87,123		345,878
	Kaiser Aluminum Corp.	4,533		484,351
	Materion Corp.	5,300		257,580
	McEwen Mining, Inc. @*	21,736		49,558
	Olympic Steel, Inc.	1,900		40,831
	Ryerson Holding Corp. *	6,828		71,011
	Schnitzer Steel Industries, Inc., Class A	8,719		292,087
	SunCoke Energy, Inc. *	18,141		217,511
	TimkenSteel Corp. *@	12,411		188,523
	Universal Stainless & Alloy Products, Inc. *	1,992		42,669
	Worthington Industries, Inc.	17,054		751,399
				6,558,058
Multi-Utilities — 0.7%
	Avista Corp.	25,390		1,307,331
	Black Hills Corp. @	10,799		649,128
	NorthWestern Corp.	11,897		710,251
	Unitil Corp.	4,584		209,122
				2,875,832
Multiline Retail — 0.3%
	Big Lots, Inc. @	14,777		829,729
	Dillard's, Inc., Class A @	1,249		75,002
	Fred's, Inc., Class A @	9,237		37,410
	J.C. Penney Co., Inc. *@	37,504		118,513
	Ollie's Bargain Outlet Holdings, Inc. *	4,252		226,419
	Tuesday Morning Corp. *@	9,803		26,958
				1,314,031
Oil, Gas & Consumable Fuels — 2.7%
	Abraxas Petroleum Corp. *	10,372		25,515
	Adams Resources & Energy, Inc.	900		39,150
	Approach Resources, Inc. *	1,249		3,697
	Arch Coal, Inc., Class A @	5,668		528,031
	Ardmore Shipping Corp. *	1,612		12,896
	Barnwell Industries, Inc. *	2,159		4,491
	Bill Barrett Corp. *	21,993		112,824
	Bonanza Creek Energy, Inc. *	907		25,024
	California Resources Corp. *@	1,945		37,811
	Callon Petroleum Co. *@	31,063		377,415
	Carrizo Oil & Gas, Inc. *@	559		11,896
	Chesapeake Energy Corp. *@	6,616		26,199
	Clean Energy Fuels Corp. *	32,434		65,841
	Cloud Peak Energy, Inc. *	27,078		120,497
	CNX Resources Corp. *	19,013		278,160
	CONSOL Energy, Inc. *	2,376		93,876
	Contango Oil & Gas Co. *	10,756		50,661
	CVR Energy, Inc. @	642		23,908
	Delek US Holdings, Inc.	23,251		812,390
	DHT Holdings, Inc.	19,547		70,174
	Dorian LPG Ltd. *	5,289		43,476
	Earthstone Energy, Inc. Class A *@	3,602		38,289
	Eclipse Resources Corp. *	4,008		9,619

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
OIL, GAS & CONSUMABLE FUELS (Continued)
	EnLink Midstream LLC	18,009	$	316,958
	EP Energy Corp., Class A *@	9,937		23,451
	Evolution Petroleum Corp.	8,084		55,375
	GasLog Ltd. @	18,166		404,193
	Goodrich Petroleum Corp. *	401		4,375
	Green Plains, Inc.	9,194		154,919
	Gulfport Energy Corp. *	6,098		77,810
	Halcon Resources Corp. *	4,300		32,551
	International Seaways, Inc. *	3,211		59,275
	Jones Energy, Inc., Class A *@	1,167		1,284
	Kosmos Energy Ltd. *@	63,708		436,400
	Laredo Petroleum, Inc. *@	36,599		388,315
	Matador Resources Co. *@	18,366		571,734
	NACCO Industries, Inc., Class A	1,000		37,650
	Oasis Petroleum, Inc. *	33,182		279,061
	Overseas Shipholding Group, Inc., Class A *	11,837		32,433
	Pacific Ethanol, Inc. *	12,792		58,204
	Panhandle Oil & Gas, Inc., Class A	5,216		107,189
	Par Pacific Holdings, Inc. *	4,135		79,723
	PBF Energy, Inc., Class A	23,970		849,736
	PDC Energy, Inc. *	11,615		598,637
	Peabody Energy Corp. *	15,042		592,204
	Penn Virginia Corp. *	1,434		56,084
	QEP Resources, Inc. *	18,400		176,088
	Renewable Energy Group, Inc. *@	11,376		134,237
	Resolute Energy Corp. *@	2,115		66,559
	Rex American Resources Corp. *	1,575		130,394
	Ring Energy, Inc. *	11,864		164,910
	Sanchez Energy Corp. *@	9,678		51,390
	SandRidge Energy, Inc. *	2,867		60,408
	Scorpio Tankers, Inc.	42,198		128,704
	SemGroup Corp., Class A	12,153		367,021
	Ship Finance International Ltd.	20,026		310,403
	SilverBow Resources, Inc. *	700		20,804
	SM Energy Co. @	17,381		383,772
	Southwestern Energy Co. *	85,859		479,093
	SRC Energy, Inc. *@	47,630		406,284
	Stone Energy Corp. *	3,010		96,802
	Teekay Corp. @	5,035		46,926
	Ultra Petroleum Corp. *@	7,738		70,106
	W&T Offshore, Inc. *	28,615		94,716
	Westmoreland Coal Co. *@	7,669		9,279
	Whiting Petroleum Corp. *	13,670		361,982
	World Fuel Services Corp.	6,251		175,903
				11,765,182
Paper & Forest Products — 1.0%
	Boise Cascade Co.	9,706		387,269
	Clearwater Paper Corp. *	5,623		255,284
	Deltic Timber Corp.	2,800		256,340
	Domtar Corp.	13,884		687,536
	KapStone Paper & Packaging Corp.	25,673		582,520
	Louisiana-Pacific Corp. *	32,123		843,550
	Mercer International, Inc.	13,909		198,899
	Neenah Paper, Inc.	3,300		299,145
	P. H. Glatfelter Co.	11,389		244,180
	Resolute Forest Products, Inc. *	8,572		94,721
	Schweitzer-Mauduit International, Inc.	8,407		381,342
	Verso Corp. Class A *	3,835		67,381
				4,298,167
Personal Products — 0.7%
	Avon Products, Inc. *	163,507		351,540
	CCA Industries, Inc. *	556		1,751
	Edgewell Personal Care Co. *	5,042		299,444
	Inter Parfums, Inc.	10,446		453,879
	Medifast, Inc.	5,232		365,246
	Natural Alternatives International, Inc. *	1,000		10,325
	Natural Health Trends Corp.	1,100		16,709
	Natures Sunshine Products, Inc.	1,700		19,635
	Nu Skin Enterprises, Inc., Class A	8,973		612,228
	Revlon, Inc., Class A *@	11,462		249,872
	United-Guardian, Inc.	600		11,100
	USANA Health Sciences, Inc. *	6,574		486,805
				2,878,534
Pharmaceuticals — 1.0%
	Akorn, Inc. *	7,475		240,919
	Amphastar Pharmaceuticals, Inc. *	23,354		449,331
	ANI Pharmaceuticals, Inc. *	2,753		177,431
	Aratana Therapeutics, Inc. *@	15,744		82,813
	Catalent, Inc. *	1,357		55,746
	Corcept Therapeutics, Inc. *@	6,100		110,166
	Cumberland Pharmaceuticals, Inc. *	5,912		43,867
	Depomed, Inc. *	11,562		93,074
	Endo International PLC *	13,442		104,175
	Horizon Pharma PLC *	8,517		124,348
	Impax Laboratories, Inc. *	18,471		307,542
	Innoviva, Inc. *	9,199		130,534
	Intra-Cellular Therapies, Inc. *	3,760		54,445
	Juniper Pharmaceuticals, Inc. *	1,500		7,275
	Lannett Co., Inc. *@	7,529		174,673
	Lipocine, Inc. *@	4,394		15,115
	Mallinckrodt PLC *@	7,995		180,367
	Marinus Pharmaceuticals, Inc. *	5,247		42,816
	Melinta Therapeutics, Inc. *	3,225		50,955
	Phibro Animal Health Corp., Class A	3,593		120,365
	Prestige Brands Holdings, Inc. *	15,321		680,406
	SCYNEXIS, Inc. *@	9,050		20,996
	Sucampo Pharmaceuticals, Inc., Class A *	11,978		215,005
	Supernus Pharmaceuticals, Inc. *	12,411		494,578
	Teligent, Inc. *	3,536		12,836
	Tetraphase Pharmaceuticals, Inc. *	7,102		44,743
	Zogenix, Inc. *	4,280		171,414
	Zynerba Pharmaceuticals, Inc. *@	1,626		20,358
				4,226,293
Professional Services — 1.6%
	Acacia Research Corp. *	7,978		32,311
	Barrett Business Services, Inc.	2,983		192,374
	CBIZ, Inc. *	15,700		242,565
	CRA International, Inc.	2,200		98,890
	Exponent, Inc.	6,651		472,886
	Forrester Research, Inc.	4,906		216,845
	Franklin Covey Co. *	5,596		116,117
	FTI Consulting, Inc. *	9,657		414,865
	GP Strategies Corp. *	5,007		116,162
	Heidrick & Struggles International, Inc.	4,281		105,099
	Hill International, Inc. *	17,534		95,560
	Hudson Global, Inc. *	2,471		5,560
	Huron Consulting Group, Inc. *	5,658		228,866
	ICF International, Inc. *	4,955		260,137
	Insperity, Inc.	11,400		653,790
	Kelly Services, Inc., Class A	7,420		202,343
	Kforce, Inc.	11,164		281,891

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
PROFESSIONAL SERVICES (Continued)
	Korn/Ferry International	13,550	$	560,699
	Mastech Digital, Inc. *	1,061		10,674
	Mistras Group, Inc. *	7,175		168,397
	Navigant Consulting, Inc. *	11,322		219,760
	On Assignment, Inc. *	15,403		989,951
	Pendrell Corp.	22		13,101
	RCM Technologies, Inc.	2,995		18,839
	Resources Connection, Inc.	11,493		177,567
	RPX Corp.	14,391		193,415
	TriNet Group, Inc. *	13,099		580,810
	TrueBlue, Inc. *	10,021		275,577
	Volt Information Sciences, Inc. *	2,024		7,691
	WageWorks, Inc. *	800		49,600
	Willdan Group, Inc. *	3,462		82,880
				7,085,222
Real Estate Management & Development — 0.6%
	Alexander & Baldwin, Inc.	13,534		375,433
	Altisource Asset Management Corp. *@	319		26,030
	Altisource Portfolio Solutions SA *	5,434		152,152
	Consolidated-Tomoka Land Co.	1,549		98,362
	Forestar Group, Inc. *@	1,150		25,300
	Griffin Industrial Realty, Inc.	420		15,414
	HFF, Inc., Class A	9,968		484,844
	Kennedy-Wilson Holdings, Inc.	22,178		384,788
	Marcus & Millichap, Inc. *	7,383		240,760
	Maui Land & Pineapple Co., Inc. *	3,255		56,312
	RE/MAX Holdings, Inc., Class A	3,519		170,671
	Realogy Holdings Corp.	5,347		141,696
	RMR Group, Inc. (The), Class A	1,159		68,729
	St. Joe Co. (The) *@	3,249		58,644
	Stratus Properties, Inc.	313		9,296
	Tejon Ranch Co. *	7,507		155,845
				2,464,276
Road & Rail — 1.4%
	ArcBest Corp.	6,195		221,471
	Avis Budget Group, Inc. *@	25,970		1,139,564
	Celadon Group, Inc. @	5,488		35,123
	Covenant Transportation Group, Inc., Class A *	3,731		107,192
	Heartland Express, Inc.	22,347		521,579
	Knight-Swift Transportation Holdings, Inc. @	34,358		1,502,132
	Landstar System, Inc.	3,248		338,117
	Marten Transport Ltd.	14,945		303,383
	P.A.M. Transportation Services, Inc. *	1,523		52,970
	Roadrunner Transportation Systems, Inc. *	8,254		63,638
	Saia, Inc. *	7,375		521,781
	Universal Truckload Services, Inc.	3,300		78,375
	USA Truck, Inc. *	3,632		65,848
	Werner Enterprises, Inc.	21,804		842,725
	YRC Worldwide, Inc. *	13,468		193,670
				5,987,568
Semiconductors & Semiconductor Equipment — 3.6%
	Advanced Energy Industries, Inc. *	19,544		1,318,829
	Alpha & Omega Semiconductor Ltd. *	6,435		105,277
	Ambarella, Inc. *@	1,829		107,454
	Amkor Technology, Inc. *	98,755		992,488
	Amtech Systems, Inc. *	9,861		99,300
	Axcelis Technologies, Inc. *	13,992		401,570
	AXT, Inc. *	15,095		131,326
	Brooks Automation, Inc.	16,972		404,782
	Cabot Microelectronics Corp.	5,995		564,010
	Ceva, Inc. *	4,958		228,812
	Cirrus Logic, Inc. *	7,387		383,090
	Cohu, Inc.	6,032		132,402
	Cree, Inc. *	18,393		683,116
	Cyberoptics Corp. *@	4,061		60,915
	Diodes, Inc. *	11,325		324,688
	DSP Group, Inc. *	2,800		35,000
	Entegris, Inc.	31,223		950,740
	FormFactor, Inc. *	16,807		263,030
	GSI Technology, Inc. *	8,514		67,771
	Integrated Device Technology, Inc. *	21,680		644,546
	inTEST Corp. *	5,556		48,059
	IXYS Corp. *	8,202		196,438
	Kopin Corp. *@	28,174		90,157
	Kulicke & Soffa Industries, Inc. *	18,438		448,689
	Lattice Semiconductor Corp. *	28,018		161,944
	MACOM Technology Solutions Holdings, Inc. *@	447		14,545
	Magnachip Semiconductor Corp. *	4,588		45,651
	MaxLinear, Inc. *	9,792		258,705
	MKS Instruments, Inc.	12,903		1,219,333
	Nanometrics, Inc. *	8,652		215,608
	NeoPhotonics Corp. *@	17,049		112,182
	NVE Corp.	888		76,368
	PDF Solutions, Inc. *@	10,588		166,232
	Photronics, Inc. *	16,333		139,239
	Pixelworks, Inc. *	6,964		44,082
	Power Integrations, Inc.	8,043		591,563
	Rambus, Inc. *	28,336		402,938
	Rudolph Technologies, Inc. *	9,379		224,158
	Semtech Corp. *	16,278		556,708
	Sigma Designs, Inc. *	15,433		107,259
	Silicon Laboratories, Inc. *	10,644		939,865
	SolarEdge Technologies, Inc. *	1,621		60,869
	SunPower Corp. *@	19,307		162,758
	Synaptics, Inc. *@	8,494		339,250
	Ultra Clean Holdings, Inc. *	8,834		203,977
	Veeco Instruments, Inc. *	12,607		187,214
	Versum Materials, Inc.	1,900		71,915
	Xcerra Corp. *	12,391		121,308
	Xperi Corp.	14,056		342,966
				15,449,126
Software — 1.8%
	ACI Worldwide, Inc. *	29,488		668,493
	Agilysys, Inc. *	13,999		171,908
	American Software, Inc., Class A	16,575		192,767
	Asure Software, Inc. *@	6,029		85,129
	Aware, Inc. *	4,900		22,050
	Barracuda Networks, Inc. *	6,267		172,342
	Blackbaud, Inc.	7,542		712,644
	Bottomline Technologies de, Inc. *	7,935		275,186
	Bsquare Corp. *	2,300		10,695
	Datawatch Corp. *	2,445		23,227
	Ebix, Inc. @	2,155		170,784
	Ellie Mae, Inc. *@	2,021		180,677
	Fair Isaac Corp.	614		94,065
	Finjan Holdings, Inc. *	9,872		21,324
	Globant SA *@	760		35,310
	Glu Mobile, Inc. *	14,543		52,937
	GSE Systems, Inc. *@	2,896		9,412
	Manhattan Associates, Inc. *	2,600		128,804
	MicroStrategy, Inc., Class A *	1,426		187,234
	Monotype Imaging Holdings, Inc.	9,997		240,928
	Paycom Software, Inc. *@	4,507		362,047
	Paylocity Holding Corp. *	500		23,580

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
SOFTWARE (Continued)
	Pegasystems, Inc.	17,229	$	812,347
	Progress Software Corp.	13,610		579,378
	QAD, Inc., Class A	4,909		190,715
	QAD, Inc., Class B	1,219		37,167
	Qualys, Inc. *	4,710		279,538
	RealNetworks, Inc. *	11,295		38,629
	RealPage, Inc. *	1,600		70,880
	Rosetta Stone, Inc. *	2,867		35,751
	Rubicon Project, Inc. (The) *	15,969		29,862
	Seachange International, Inc. *	7,100		27,903
	Silver Spring Networks, Inc. *	3,568		57,944
	Synchronoss Technologies, Inc. *@	11,475		102,586
	TeleNav, Inc. *	1,119		6,155
	TiVo Corp.	30,394		474,146
	VASCO Data Security International, Inc. *	7,796		108,364
	Verint Systems, Inc. *	12,694		531,244
	Zedge, Inc., Class B *	2,411		6,629
	Zix Corp. *	16,383		71,758
	Zynga, Inc., Class A *	155,342		621,368
				7,923,907
Specialty Retail — 3.7%
	Aaron's, Inc.	18,376		732,284
	Abercrombie & Fitch Co., Class A	16,988		296,101
	America's Car-Mart, Inc. *	4,873		217,579
	American Eagle Outfitters, Inc.	121,677		2,287,528
	Asbury Automotive Group, Inc. *	10,513		672,832
	Ascena Retail Group, Inc. *@	56,991		133,929
	At Home Group, Inc. *@	4,409		133,989
	Barnes & Noble Education, Inc. *	10,227		84,270
	Barnes & Noble, Inc.	20,086		134,576
	Big 5 Sporting Goods Corp. @	6,183		46,991
	Boot Barn Holdings, Inc. *@	4,049		67,254
	Buckle, Inc. (The) @	12,544		297,920
	Build-A-Bear Workshop, Inc. *	8,093		74,456
	Caleres, Inc.	11,677		390,946
	Cato Corp. (The), Class A	6,792		108,129
	Chico's FAS, Inc.	32,315		285,018
	Children's Place, Inc. (The) @	4,800		697,680
	Christopher & Banks Corp. *	7,704		9,784
	Citi Trends, Inc.	4,246		112,349
	Conn's, Inc. *@	8,299		295,029
	Destination Maternity Corp. *@	2,800		8,316
	Destination XL Group, Inc. *	9,525		20,955
	Dick's Sporting Goods, Inc.	2,484		71,390
	DSW, Inc., Class A @	17,801		381,119
	Express, Inc. *	24,468		248,350
	Finish Line Inc. (The), Class A	14,724		213,940
	Five Below, Inc. *	13,253		878,939
	Francesca's Holdings Corp. *	11,436		83,597
	GameStop Corp., Class A @	11,233		201,632
	Genesco, Inc. *	5,569		180,992
	Group 1 Automotive, Inc.	6,400		454,208
	Guess?, Inc. @	19,715		332,789
	Haverty Furniture Cos., Inc.	4,500		101,925
	Hibbett Sports, Inc. *@	5,325		108,630
	Kirkland's, Inc. *	5,977		71,515
	Lithia Motors, Inc., Class A @	7,255		824,095
	Lumber Liquidators Holdings, Inc. *@	6,687		209,905
	MarineMax, Inc. *	6,241		117,955
	Monro, Inc. @	9,650		549,567
	Murphy USA, Inc. *	11,169		897,541
	New York & Co., Inc. *	9,814		28,068
	Office Depot, Inc.	129,524		458,515
	Penske Auto Group, Inc.	1,742		83,355
	Pier 1 Imports, Inc.	26,935		111,511
	Rent-A-Center, Inc. @	12,778		141,836
	Sally Beauty Holdings, Inc. *	4,925		92,393
	Shoe Carnival, Inc.	3,860		103,255
	Signet Jewelers Ltd.	9,096		514,379
	Sleep Number Corp. *	13,560		509,720
	Sonic Automotive, Inc., Class A @	8,861		163,485
	Sportsman's Warehouse Holdings, Inc. *@	7,232		47,804
	Stage Stores, Inc. @	7,304		12,271
	Stein Mart, Inc. @	12,554		14,563
	Tailored Brands, Inc. @	7,289		159,119
	Tandy Leather Factory, Inc. *	3,611		27,805
	Tile Shop Holdings, Inc.	4,471		42,922
	Tilly's, Inc., Class A	3,349		49,431
	Trans World Entertainment Corp. *	5,400		9,855
	TravelCenters of America LLC *	6,721		27,556
	Urban Outfitters, Inc. *	1,362		47,752
	Vitamin Shoppe, Inc. *@	10,501		46,204
	Winmark Corp.	1,294		167,444
	Zumiez, Inc. *	7,694		160,228
				16,055,475
Textiles, Apparel & Luxury Goods — 1.0%
	Cherokee, Inc. *	1,700		3,230
	Columbia Sportswear Co.	1,363		97,972
	Crocs, Inc. *	21,632		273,429
	Culp, Inc.	4,958		166,093
	Deckers Outdoor Corp. *	7,708		618,567
	Delta Apparel, Inc. *	1,153		23,291
	Fossil Group, Inc. *@	2,477		19,246
	G-III Apparel Group Ltd. *	12,918		476,545
	Iconix Brand Group, Inc. *@	24,435		31,521
	Lakeland Industries, Inc. *	3,373		49,077
	Movado Group, Inc.	4,486		144,449
	Oxford Industries, Inc.	4,436		333,543
	Perry Ellis International, Inc. *	3,333		83,458
	Rocky Brands, Inc.	1,000		18,900
	Sequential Brands Group, Inc. *@	1,723		3,067
	Steven Madden Ltd. *	18,385		858,580
	Superior Uniform Group, Inc.	2,200		58,762
	Unifi, Inc. *	4,533		162,599
	Vera Bradley, Inc. *	11,039		134,455
	Wolverine World Wide, Inc.	26,290		838,125
				4,394,909
Thrifts & Mortgage Finance — 2.3%
	Atlantic Coast Financial Corp. *@	1,765		16,644
	Bank Mutual Corp.	10,012		106,628
	BankFinancial Corp.	4,900		75,166
	Bear State Financial, Inc.	1,232		12,603
	Beneficial Bancorp, Inc.	19,038		313,175
	BofI Holding, Inc. *@	16,994		508,121
	Capitol Federal Financial, Inc.	38,288		513,442
	Charter Financial Corp.	2,285		40,079
	Citizens Community Bancorp, Inc.	400		5,396
	Clifton Bancorp, Inc.	5,967		102,036
	Dime Community Bancshares, Inc.	10,354		216,916
	ESSA Bancorp, Inc.	1,900		29,773
	Federal Agricultural Mortgage Corp., Class C	1,400		109,536

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
THRIFTS & MORTGAGE FINANCE (Continued)
	First Defiance Financial Corp.	2,401	$	124,780
	Flagstar Bancorp, Inc. *	13,420		502,176
	FS Bancorp, Inc.	286		15,607
	Hingham Institution for Savings	213		44,091
	Home Bancorp, Inc.	994		42,961
	HomeStreet, Inc. *	6,890		199,465
	HopFed Bancorp, Inc.	415		5,901
	Impac Mortgage Holdings, Inc. *	301		3,058
	Kearny Financial Corp.	23,771		343,491
	LendingTree, Inc. *@	2,115		720,052
	Meridian Bancorp, Inc.	11,660		240,196
	Meta Financial Group, Inc.	3,623		335,671
	MGIC Investment Corp. *	12,435		175,458
	Nationstar Mortgage Holdings, Inc. *@	5,124		94,794
	NMI Holdings, Inc., Class A *	8,926		151,742
	Northfield Bancorp, Inc.	14,040		239,803
	Northwest Bancshares, Inc.	25,789		431,450
	OceanFirst Financial Corp.	5,554		145,793
	Ocwen Financial Corp. *@	14,766		46,218
	Oritani Financial Corp.	13,840		226,976
	PennyMac Financial Services, Inc., Class A *	1,561		34,888
	PHH Corp. *	18,850		194,155
	Provident Financial Holdings, Inc.	1,124		20,682
	Provident Financial Services, Inc.	15,994		431,358
	Radian Group, Inc.	8,095		166,838
	Riverview Bancorp, Inc.	7,664		66,447
	SI Financial Group, Inc.	2,065		30,356
	Southern Missouri Bancorp, Inc.	686		25,787
	Territorial Bancorp, Inc.	2,866		88,473
	Timberland Bancorp, Inc.	2,600		69,030
	Trustco Bank Corp. NY	32,342		297,546
	United Community Financial Corp.	14,792		135,051
	United Financial Bancorp, Inc.	13,701		241,686
	Walker & Dunlop, Inc. *	7,823		371,592
	Washington Federal, Inc.	25,804		883,787
	Waterstone Financial, Inc.	8,664		147,721
	Western New England Bancorp, Inc.	7,290		79,461
	WSFS Financial Corp.	6,327		302,747
				9,726,803
Tobacco — 0.3%
	Alliance One International, Inc. *	5,832		77,274
	Universal Corp.	5,600		294,000
	Vector Group Ltd. @	36,481		816,445
				1,187,719
Trading Companies & Distributors — 1.9%
	Air Lease Corp.	1,554		74,732
	Aircastle Ltd.	9,390		219,632
	Applied Industrial Technologies, Inc.	17,141		1,167,302
	Beacon Roofing Supply, Inc. *	16,149		1,029,660
	BlueLinx Holdings, Inc. *	4,085		39,870
	BMC Stock Holdings, Inc. *	18,344		464,103
	CAI International, Inc. *	4,985		141,175
	DXP Enterprises, Inc. *	7,010		207,286
	GATX Corp. @	11,502		714,964
	GMS, Inc. *	2,900		109,156
	H&E Equipment Services, Inc.	12,565		510,767
	Herc Holdings, Inc. *	5,162		323,193
	Huttig Building Products, Inc. *@	1,858		12,356
	Kaman Corp., Class A	7,224		425,060
	Lawson Products, Inc. *	1,575		38,981
	MRC Global, Inc. *	23,031		389,685
	Nexeo Solutions, Inc. *	2,400		21,840
	NOW, Inc. *@	21,709		239,450
	Rush Enterprises, Inc., Class A *	8,185		415,880
	Textainer Group Holdings Ltd. *	13,035		280,252
	Titan Machinery, Inc. *	6,080		128,714
	Triton International Ltd. *	13,664		511,717
	Veritiv Corp. *	1,000		28,900
	WESCO International, Inc. *	7,914		539,339
	Willis Lease Finance Corp. *	900		22,473
				8,056,487
Transportation Infrastructure — 0.0%
	Sino-Global Shipping America Ltd. *@	3,964		10,148
Water Utilities — 0.6%
	American States Water Co.	19,710		1,141,406
	Artesian Resources Corp., Class A	3,785		145,950
	California Water Service Group	11,688		530,051
	Connecticut Water Service, Inc.	3,754		215,517
	Consolidated Water Co., Ltd.	2,822		35,557
	Middlesex Water Co.	5,644		225,252
	Pure Cycle Corp. *	1,000		8,350
	SJW Corp.	4,400		280,852
	York Water Co.	3,670		124,413
				2,707,348
Wireless Telecommunication Services — 0.4%
	Boingo Wireless, Inc. *	15,932		358,470
	Shenandoah Telecommunications Co.	17,605		595,049
	Spok Holdings, Inc.	5,786		90,551
	Telephone & Data Systems, Inc.	18,553		515,773
	United States Cellular Corp. *	933		35,109
				1,594,952
	TOTAL COMMON STOCKS        (Identified Cost $279,856,778)			429,076,680
RIGHTS AND WARRANTS — 0.0%
Media — 0.0%
	Media General, Inc. CVR *§~¶	3,965		414
Pharmaceuticals — 0.0%
	FRD Acquisition Co. CVR *§~¶	656		—
Software — 0.0%
	Gerber Scientific CVR @*§¶	5,000		—
	TOTAL RIGHTS AND WARRANTS        (Identified Cost $0)			414
SHORT-TERM INVESTMENTS — 5.0%
Investment Company — 0.1%
	State Street Institutional U.S. Government Money Market Fund, 1.210%	460,933		460,933
Collateral For Securities On Loan — 4.9%
	State Street Navigator Securities Lending Government Money Market Portfolio, 1.300%	21,246,569		21,246,569
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $21,707,502)			21,707,502
Total Investments — 104.6%        (Identified Cost $301,564,280)#				450,784,596
	Liabilities, Less Cash and Other Assets — (4.6%)			(19,740,403	)
Net Assets — 100.0%			$	431,044,193

†	See Note 1
*	Non-income producing security
@	A portion or all of the security were held on loan. As of December 31, 2017, the market value of the securities on loan was $49,467,273.
§	Fair valued security. Fair values are determined pursuant to procedures approved by the Fund's Board of Trustees. See Note 1

The accompanying notes are an integral part of these financial statements.

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

~	Bankrupt//delisted security
¶	Contingent value rights based on future performance.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $301,564,280. Net unrealized appreciation aggregated $149,220,316 of which $173,720,725 related to appreciated investment securities and $24,500,409 related to depreciated investment securities.

Key to abbreviations:
CVR — Contingent Value Rights

The accompanying notes are an integral part of these financial statements.

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 99.7%
Aerospace & Defense — 1.0%
	Arconic, Inc.	47,074	$	1,282,766
	L3 Technologies, Inc.	9,636		1,906,483
	Orbital ATK, Inc.	2,155		283,382
	Textron, Inc.	43,757		2,476,209
				5,948,840
Air Freight & Logistics — 0.7%
	FedEx Corp.	11,469		2,861,974
	XPO Logistics, Inc. *@	15,841		1,450,877
				4,312,851
Airlines — 1.1%
	Copa Holdings SA, Class A	1,123		150,549
	Delta Air Lines, Inc.	68,152		3,816,512
	JetBlue Airways Corp. *	61,307		1,369,598
	United Continental Holdings, Inc. *	23,941		1,613,624
				6,950,283
Auto Components — 1.0%
	Adient PLC	8,972		706,096
	Autoliv, Inc. @	11,805		1,500,179
	BorgWarner, Inc.	24,241		1,238,473
	Gentex Corp.	22,375		468,756
	Goodyear Tire & Rubber Co. (The)	33,229		1,073,629
	Lear Corp.	6,319		1,116,315
				6,103,448
Automobiles — 1.8%
	Ford Motor Co.	419,903		5,244,588
	General Motors Co.	153,506		6,292,211
				11,536,799
Beverages — 0.4%
	Molson Coors Brewing Co., Class B	31,706		2,602,111
Biotechnology — 0.1%
	United Therapeutics Corp. *	3,786		560,139
Building Products — 0.5%
	Johnson Controls International PLC	25,436		969,366
	Owens Corning	19,528		1,795,404
	USG Corp. *	6,301		242,967
				3,007,737
Capital Markets — 3.0%
	Bank of New York Mellon Corp. (The)	103,219		5,559,375
	Goldman Sachs Group, Inc. (The)	24,637		6,276,522
	Invesco Ltd.	13,425		490,550
	Morgan Stanley	111,941		5,873,544
	State Street Corp.	7,198		702,597
				18,902,588
Chemicals — 1.5%
	Albemarle Corp.	9,985		1,276,982
	Ashland Global Holdings, Inc.	9,009		641,441
	CF Industries Holdings, Inc.	25,378		1,079,580
	DowDuPont, Inc.	18,037		1,284,595
	Eastman Chemical Co.	23,262		2,154,992
	Huntsman Corp.	5,682		189,154
	Mosaic Co. (The)	26,475		679,348
	Olin Corp.	16,354		581,875
	Valvoline, Inc.	24,732		619,784
	Westlake Chemical Corp.	5,411		576,434
				9,084,185
Commercial Banks — 14.0%
	Bank of America Corp.	415,381		12,262,047
	Bank of the Ozarks, Inc.	2,387		115,650
	BB&T Corp.	44,415		2,208,314
	BOK Financial Corp.	765		70,625
	CIT Group, Inc.	9,004		443,267
	Citigroup, Inc.	114,587		8,526,419
	Citizens Financial Group, Inc.	18,613		781,374
	Fifth Third Bancorp	86,881		2,635,969
	Huntington Bancshares, Inc.	95,253		1,386,884
	JPMorgan Chase & Co.	240,350		25,703,029
	KeyCorp	43,963		886,734
	M&T Bank Corp.	5,838		998,239
	PacWest Bancorp	5,207		262,433
	People's United Financial, Inc.	5,834		109,096
	PNC Financial Services Group, Inc. (The)	29,778		4,296,667
	Regions Financial Corp.	155,307		2,683,705
	SunTrust Banks, Inc.	34,538		2,230,809
	Wells Fargo & Co.	338,421		20,532,002
	Zions Bancorp	19,490		990,677
				87,123,940
Commercial Services & Supplies — 0.5%
	Republic Services, Inc.	41,954		2,836,510
	Stericycle, Inc. *	3,915		266,181
				3,102,691
Communications Equipment — 2.9%
	ARRIS International PLC *	15,215		390,873
	Cisco Systems, Inc.	407,323		15,600,471
	EchoStar Corp., Class A *	3,599		215,580
	Juniper Networks, Inc.	57,350		1,634,475
				17,841,399
Computers & Peripherals — 1.8%
	Hewlett Packard Enterprise Co.	204,958		2,943,197
	HP, Inc.	196,800		4,134,768
	Western Digital Corp.	31,938		2,540,029
	Xerox Corp.	46,593		1,358,186
				10,976,180
Construction & Engineering — 0.4%
	AECOM *	11,462		425,813
	Fluor Corp.	17,248		890,859
	Jacobs Engineering Group, Inc.	8,552		564,090
	Quanta Services, Inc. *	13,887		543,121
				2,423,883
Construction Materials — 0.1%
	Vulcan Materials Co.	6,066		778,692
Consumer Finance — 1.1%
	Ally Financial, Inc.	66,748		1,946,372
	Capital One Financial Corp.	47,279		4,708,043
	Santander Consumer USA Holdings, Inc.	13,899		258,799
				6,913,214
Containers & Packaging — 0.3%
	Sonoco Products Co.	6,169		327,821
	WestRock Co.	24,453		1,545,674
				1,873,495
Distributors — 0.3%
	LKQ Corp. *	47,648		1,937,844
Diversified Financial Services — 0.1%
	Leucadia National Corp.	6,993		185,245
	Voya Financial, Inc.	7,020		347,279
				532,524
Diversified Telecommunication Services — 4.1%
	AT&T, Inc.	606,209		23,569,406
	CenturyLink, Inc.	112,692		1,879,702
				25,449,108

The accompanying notes are an integral part of these financial statements.

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Electrical Equipment — 0.5%
	Eaton Corp. PLC	40,532	$	3,202,433
Electronic Equipment, Instruments & Components — 1.2%
	Arrow Electronics, Inc. *	17,315		1,392,299
	Avnet, Inc.	13,180		522,191
	Corning, Inc.	75,228		2,406,544
	Flex Ltd. *	31,420		565,246
	Jabil, Inc.	17,551		460,714
	SYNNEX Corp.	3,501		475,961
	TE Connectivity Ltd.	17,809		1,692,567
				7,515,522
Energy Equipment & Services — 0.9%
	Baker Hughes a GE Co.	20,187		638,717
	Helmerich & Payne, Inc. @	9,938		642,392
	National Oilwell Varco, Inc. @	29,834		1,074,621
	Schlumberger Ltd.	37,399		2,520,319
	TechnipFMC PLC	34,156		1,069,424
				5,945,473
Food & Staples Retailing — 3.6%
	CVS Health Corp.	104,823		7,599,668
	US Foods Holding Corp. *	17,077		545,269
	Wal-Mart Stores, Inc.	104,402		10,309,697
	Walgreens Boots Alliance, Inc.	58,673		4,260,833
				22,715,467
Food Products — 2.5%
	Archer-Daniels-Midland Co.	39,896		1,599,032
	Bunge Ltd.	21,881		1,467,778
	Ingredion, Inc.	3,073		429,605
	J.M. Smucker Co. (The)	18,460		2,293,470
	Kraft Heinz Co. (The)	22,750		1,769,040
	Mondelez International, Inc., Class A	71,300		3,051,640
	Pinnacle Foods, Inc.	9,922		590,061
	Post Holdings, Inc. *	7,076		560,632
	Seaboard Corp.	69		304,290
	Tyson Foods, Inc., Class A	41,844		3,392,293
				15,457,841
Health Care Equipment & Supplies — 2.9%
	Abbott Laboratories	92,763		5,293,985
	Danaher Corp.	44,310		4,112,854
	DENTSPLY SIRONA, Inc.	4,157		273,655
	Medtronic PLC	94,115		7,599,786
	STERIS PLC	1,837		160,682
	Zimmer Biomet Holdings, Inc.	5,607		676,597
				18,117,559
Health Care Providers & Services — 5.9%
	Aetna, Inc.	36,478		6,580,266
	Anthem, Inc.	30,249		6,806,327
	Cardinal Health, Inc.	1,139		69,787
	Centene Corp. *	29,767		3,002,895
	CIGNA Corp.	8,292		1,684,022
	DaVita, Inc. *	30,386		2,195,389
	Express Scripts Holding Co. *	63,449		4,735,833
	Humana, Inc.	14,315		3,551,122
	Laboratory Corp. of America Holdings *	16,237		2,589,964
	McKesson Corp.	8,631		1,346,004
	Mednax, Inc. *	9,245		494,053
	Quest Diagnostics, Inc.	21,432		2,110,838
	Universal Health Services, Inc., Class B	10,322		1,169,999
	WellCare Health Plans, Inc. *	535		107,594
				36,444,093
Hotels, Restaurants & Leisure — 1.5%
	Carnival Corp.	27,865		1,849,400
	Hyatt Hotels Corp., Class A *	3,874		284,894
	MGM Resorts International	67,948		2,268,784
	Norwegian Cruise Line Holdings Ltd. *	34,226		1,822,534
	Royal Caribbean Cruises Ltd.	26,539		3,165,572
				9,391,184
Household Durables — 2.2%
	DR Horton, Inc.	65,701		3,355,350
	Garmin Ltd. @	12,982		773,338
	Lennar Corp., Class A	28,692		1,814,482
	Lennar Corp., Class B	573		29,613
	Mohawk Industries, Inc. *	12,063		3,328,182
	Newell Brands, Inc.	19,061		588,985
	PulteGroup, Inc.	38,222		1,270,881
	Toll Brothers, Inc.	11,379		546,420
	Whirlpool Corp.	12,182		2,054,372
				13,761,623
Independent Power Producers & Energy Traders — 0.2%
	Calpine Corp. *	23,886		361,395
	NRG Energy, Inc.	32,237		918,110
				1,279,505
Industrial Conglomerates — 0.2%
	Carlisle Cos., Inc.	6,915		785,890
	General Electric Co.	19,790		345,335
				1,131,225
Insurance — 5.6%
	Aflac, Inc.	34,035		2,987,592
	Alleghany Corp. *	855		509,657
	Allstate Corp. (The)	19,994		2,093,572
	American Financial Group, Inc.	8,697		943,972
	American International Group, Inc.	41,993		2,501,943
	Arch Capital Group Ltd. *	4,583		415,999
	Assurant, Inc.	5,690		573,780
	Assured Guaranty Ltd.	7,488		253,619
	Axis Capital Holdings Ltd.	7,945		399,316
	Brighthouse Financial, Inc. *	4,222		247,578
	Chubb Ltd.	11,440		1,671,727
	CNA Financial Corp.	7,604		403,392
	Everest Re Group Ltd.	3,953		874,641
	First American Financial Corp.	3,372		188,967
	Hartford Financial Services Group, Inc.	48,531		2,731,325
	Lincoln National Corp.	18,122		1,393,038
	Loews Corp.	28,152		1,408,445
	MetLife, Inc.	39,945		2,019,619
	Old Republic International Corp.	23,484		502,088
	Principal Financial Group, Inc.	30,640		2,161,958
	Prudential Financial, Inc.	20,566		2,364,679
	Reinsurance Group of America, Inc.	9,075		1,415,065
	RenaissanceRe Holdings Ltd.	2,534		318,245
	Travelers Companies, Inc. (The)	27,179		3,686,559
	Unum Group	32,590		1,788,865
	WR Berkley Corp.	6,648		476,329
	XL Group Ltd.	21,178		744,618
				35,076,588
Internet & Catalog Retail — 0.3%
	Liberty Interactive Corp. QVC Group, Class A *	71,603		1,748,545

The accompanying notes are an integral part of these financial statements.

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
IT Services — 1.0%
	Amdocs Ltd.	10,115	$	662,330
	DXC Technology Co.	18,001		1,708,295
	Fidelity National Information Services, Inc.	30,362		2,856,761
	Leidos Holdings, Inc.	20,264		1,308,446
				6,535,832
Life Sciences Tools & Services — 0.5%
	Bio-Rad Laboratories, Inc., Class A *	172		41,051
	IQVIA Holdings, Inc. *	3,180		311,322
	Thermo Fisher Scientific, Inc.	15,270		2,899,468
				3,251,841
Machinery — 2.0%
	AGCO Corp.	11,477		819,802
	Cummins, Inc.	3,839		678,121
	Dover Corp.	16,408		1,657,044
	Ingersoll-Rand PLC	16,931		1,510,076
	Oshkosh Corp.	7,274		661,134
	PACCAR, Inc.	11,923		847,487
	Pentair PLC	27,933		1,972,628
	Snap-On, Inc.	777		135,431
	Stanley Black & Decker, Inc.	21,808		3,700,600
	Trinity Industries, Inc.	1,343		50,309
	Wabtec Corp. @	4,473		364,236
				12,396,868
Media — 5.0%
	CBS Corp., Class A	1,291		76,608
	Charter Communications, Inc., Class A *	20,763		6,975,538
	Comcast Corp., Class A	324,389		12,991,779
	Discovery Communications, Inc., Class A *@	1,879		42,052
	Discovery Communications, Inc., Class C *@	14,703		311,263
	Liberty Braves Group, Class A *	438		9,658
	Liberty Braves Group, Class C *	877		19,487
	Liberty Broadband Corp., Class C *	1,360		115,818
	Liberty Media Corp-Liberty Formula One,        Class A *@	1,097		35,894
	Liberty Media Corp-Liberty Formula One,        Class C *	2,194		74,947
	Liberty SiriusXM Group, Class A *	4,389		174,068
	Liberty SiriusXM Group, Class C *	8,778		348,135
	Madison Square Garden Co. (The), Class A *	443		93,407
	News Corp., Class A	8,320		134,867
	News Corp., Class B	1,734		28,784
	TEGNA, Inc.	16,842		237,135
	Time Warner, Inc.	94,794		8,670,807
	Viacom, Inc., Class B	18,004		554,703
				30,894,950
Metals & Mining — 1.8%
	Alcoa Corp. *	18,058		972,785
	Freeport-McMoRan, Inc. *	88,065		1,669,712
	Newmont Mining Corp.	41,863		1,570,700
	Nucor Corp.	56,664		3,602,697
	Reliance Steel & Aluminum Co.	12,373		1,061,480
	Royal Gold, Inc.	1,245		102,239
	Steel Dynamics, Inc.	33,820		1,458,657
	United States Steel Corp.	16,269		572,506
				11,010,776
Multiline Retail — 0.8%
	Dollar Tree, Inc. *	7,894		847,105
	Kohl's Corp. @	39,722		2,154,124
	Macy's, Inc. @	32,863		827,819
	Target Corp.	20,753		1,354,133
				5,183,181
Oil, Gas & Consumable Fuels — 12.4%
	Anadarko Petroleum Corp.	23,533		1,262,310
	Andeavor	26,742		3,057,680
	Antero Resources Corp. *	3,922		74,518
	Apache Corp.	1,106		46,695
	Chevron Corp.	118,481		14,832,636
	Concho Resources, Inc. *	12,360		1,856,719
	ConocoPhillips	71,234		3,910,034
	Devon Energy Corp.	52,433		2,170,726
	Diamondback Energy, Inc. *	6,687		844,234
	Exxon Mobil Corp.	292,675		24,479,337
	Hess Corp.	20,959		994,924
	HollyFrontier Corp.	15,834		811,018
	Kinder Morgan, Inc.	174,875		3,159,991
	Marathon Oil Corp.	71,156		1,204,671
	Marathon Petroleum Corp.	58,629		3,868,342
	Murphy Oil Corp.	900		27,945
	Noble Energy, Inc.	39,428		1,148,932
	Occidental Petroleum Corp.	47,333		3,486,549
	Phillips 66	23,445		2,371,462
	Pioneer Natural Resources Co.	1,167		201,716
	Targa Resources Corp.	19,687		953,245
	Valero Energy Corp.	64,869		5,962,110
	Williams Cos., Inc. (The)	22,011		671,115
				77,396,909
Personal Products — 0.0%
	Coty, Inc., Class A @	8,741		173,859
Pharmaceuticals — 2.6%
	Allergan PLC	12,666		2,071,904
	Mylan NV *	34,268		1,449,879
	Perrigo Co. PLC	10,679		930,782
	Pfizer, Inc.	314,927		11,406,656
	Taro Pharmaceutical Industries Ltd. *	667		69,842
				15,929,063
Professional Services — 0.2%
	Manpowergroup, Inc.	8,693		1,096,274
	Nielsen Holdings PLC	6,018		219,055
				1,315,329
Real Estate Management & Development — 0.1%
	Jones Lang LaSalle, Inc.	4,318		643,080
Road & Rail — 1.0%
	AMERCO	583		220,322
	Genesee & Wyoming, Inc., Class A *	1,210		95,263
	Kansas City Southern	14,222		1,496,439
	Norfolk Southern Corp.	30,847		4,469,730
				6,281,754
Semiconductors & Semiconductor Equipment — 6.5%
	Intel Corp.	522,093		24,099,813
	Lam Research Corp.	18,802		3,460,884
	Marvell Technology Group Ltd.	18,929		406,406
	Micron Technology, Inc. *	96,568		3,970,876
	Microsemi Corp. *	2,594		133,980
	NVIDIA Corp.	6,741		1,304,384
	ON Semiconductor Corp. *	14,063		294,479
	Qorvo, Inc. *	6,724		447,818
	QUALCOMM, Inc.	99,529		6,371,847
				40,490,487
Software — 0.6%
	CA, Inc.	75,041		2,497,365
	Dell Technologies, Inc., Class V *	16,758		1,362,090
	Nuance Communications, Inc. *	2,812		45,976

The accompanying notes are an integral part of these financial statements.

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
SOFTWARE (Continued)
	SS&C Technologies Holdings, Inc.	3,456	$	139,899
				4,045,330
Specialty Retail — 0.2%
	AutoNation, Inc. *@	7,025		360,593
	Best Buy Co., Inc.	12,349		845,536
				1,206,129
Textiles, Apparel & Luxury Goods — 0.3%
	PVH Corp.	9,516		1,305,690
	Ralph Lauren Corp.	4,113		426,477
	Skechers U.S.A., Inc., Class A *	538		20,358
				1,752,525
Thrifts & Mortgage Finance — 0.1%
	MGIC Investment Corp. *	23,250		328,057
	New York Community Bancorp, Inc.	14,697		191,355
				519,412
Transportation Infrastructure — 0.1%
	Macquarie Infrastructure Corp.	9,053		581,203
Wireless Telecommunication Services — 0.3%
	Sprint Corp. *@	29,977		176,565
	T-Mobile US, Inc. *	24,396		1,549,390
				1,725,955
	TOTAL COMMON STOCKS        (Identified Cost $405,419,780)			621,083,492
SHORT-TERM INVESTMENTS — 0.4%
Investment Company — 0.1%
	State Street Institutional U.S. Government        Money Market Fund, 1.210%	439,954		439,954
Collateral For Securities On Loan — 0.3%
	State Street Navigator Securities Lending        Government Money Market Portfolio,         1.300%	1,771,656		1,771,656
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $2,211,610)			2,211,610
Total Investments — 100.1%
	(Identified Cost $407,631,390)#			623,295,102
	Liabilities, Less Cash and Other Assets — (0.1%)			(883,247	)
Net Assets — 100.0%			$	622,411,855

†	See Note 1
*	Non-income producing security
@	A portion or all of the security were held on loan. As of December 31, 2017, the market value of the securities on loan was $8,789,264.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $407,631,390. Net unrealized appreciation aggregated $215,663,712 of which $226,187,300 related to appreciated investment securities and $10,523,588 related to depreciated investment securities.

The accompanying notes are an integral part of these financial statements.

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 98.1%
Australia — 5.7%
	Australia & New Zealand Banking Group Ltd.	418,228	$	9,378,509
	Bank of Queensland Ltd.	58,107		576,699
	Bendigo & Adelaide Bank Ltd.	84,493		769,353
	BHP Billiton Ltd.	415,931		9,596,361
	BHP Billiton Ltd., ADR @	9,472		435,617
	BlueScope Steel Ltd.	149,450		1,792,271
	Boral Ltd.	152,345		925,976
	Crown Resorts Ltd.	50,644		514,485
	Downer EDI Ltd.	20,259		109,543
	Fortescue Metals Group Ltd.	463,439		1,764,600
	Harvey Norman Holdings Ltd.	35,545		115,651
	Incitec Pivot Ltd.	253,567		771,598
	Newcrest Mining Ltd.	112,629		2,005,395
	Oil Search Ltd.	46,494		282,598
	Origin Energy Ltd. *	261,406		1,921,323
	QBE Insurance Group Ltd.	157,936		1,316,092
	Santos Ltd. *	294,384		1,251,828
	South32 Ltd.	879,164		2,394,028
	South32 Ltd., ADR	27,785		375,792
	Star Entertainment Group Ltd. (The)	202,229		959,359
	Suncorp Group Ltd.	116,752		1,262,588
	Treasury Wine Estates Ltd.	25,957		323,237
	Whitehaven Coal Ltd.	125,867		438,007
	Woodside Petroleum Ltd.	211,619		5,462,030
				44,742,940
Austria — 0.1%
	Erste Group Bank AG *	9,138		395,863
	OMV AG	3,593		227,753
	Raiffeisen Bank International AG *	7,696		278,868
				902,484
Belgium — 1.1%
	Ageas	34,647		1,692,571
	KBC Groep NV	33,266		2,838,298
	Solvay SA	21,530		2,994,016
	UCB SA	12,536		995,434
				8,520,319
Canada — 8.1%
	ARC Resources Ltd.	22,756		267,025
	Bank of Montreal	107,055		8,566,541
	Barrick Gold Corp.	110,987		1,605,982
	Blackberry Ltd. *	319		3,563
	Cameco Corp. @,¥	27,448		253,517
	Cameco Corp. @	49,846		460,079
	Canadian Natural Resources Ltd. @	40,354		1,441,445
	Cenovus Energy, Inc.	85,947		784,696
	Crescent Point Energy Corp. @,¥	46,074		351,145
	Crescent Point Energy Corp. @	109,595		835,114
	Element Fleet Management Corp. @	2,800		21,162
	Empire Co., Ltd., Class A	55,234		1,076,118
	Enbridge Income Fund Holdings, Inc. @	9,900		234,780
	EnCana Corp. ¥	29,500		393,568
	Encana Corp.	79,935		1,065,534
	Fairfax Financial Holdings Ltd.	2,793		1,487,245
	Finning International, Inc.	80		2,019
	First Quantum Minerals Ltd.	108,608		1,521,549
	Goldcorp, Inc.	118,744		1,516,361
	Goldcorp, Inc. ¥	8,798		112,197
	Husky Energy, Inc. *	93,283		1,317,242
	IAMGOLD Corp. *	46,265		269,787
	Imperial Oil Ltd. @	16,930		528,047
	Industrial Alliance Insurance & Financial
	Services, Inc.	31,827		1,514,631
	Kinross Gold Corp. *	345,631		1,490,310
	Linamar Corp.	8,982		523,128
	Lundin Mining Corp. @	167,662		1,115,079
	Magna International, Inc.	55,112		3,123,197
	Manulife Financial Corp. ¥	55,041		1,148,111
	Manulife Financial Corp.	184,732		3,853,510
	Maple Leaf Foods, Inc.	2,890		82,355
	Potash Corp. of Saskatchewan, Inc.	31,499		650,454
	Seven Generations Energy Ltd., Class A *	6,737		95,293
	Sun Life Financial, Inc.	67,385		2,780,305
	Sun Life Financial, Inc. ¥	30,213		1,246,977
	Suncor Energy, Inc. ¥	266,726		9,792,685
	Suncor Energy, Inc.	65,644		2,410,448
	Teck Resources Ltd., Class A	500		13,146
	Teck Resources Ltd., Class B ¥	75,600		1,976,907
	Teck Resources Ltd., Class B @	94,542		2,474,164
	Tourmaline Oil Corp. *	63,000		1,141,718
	Turquoise Hill Resources Ltd. *	106,042		361,909
	Valeant Pharmaceuticals International, Inc. *,¥	13,000		270,963
	Valeant Pharmaceuticals International, Inc. @,*	53,875		1,119,522
	Wheaton Precious Metals Corp.	8,738		193,372
	Whitecap Resources, Inc. @	62,500		445,008
	WSP Global, Inc.	18,582		885,639
	Yamana Gold, Inc.	165,308		515,519
				63,339,066
Denmark — 1.6%
	AP Moeller - Maersk A/S, Class A	508		848,209
	AP Moeller - Maersk A/S, Class B	925		1,616,033
	Carlsberg A/S, Class B	15,445		1,854,485
	Danske Bank A/S	38,704		1,507,065
	DSV A/S	34,914		2,749,364
	H Lundbeck A/S	3,061		155,401
	ISS A/S	29,861		1,156,478
	Jyske Bank A/S	1,891		107,645
	Novozymes A/S, B Shares	6,176		352,860
	Rockwool International A/S, B Shares	146		41,390
	Vestas Wind Systems A/S	24,876		1,719,153
				12,108,083
Finland — 0.7%
	Fortum Oyj	46,629		923,138
	Nokia Oyj	51,316		239,759
	Stora Enso Oyj, R Shares	130,734		2,073,704
	UPM-Kymmene Oyj	80,088		2,489,784
				5,726,385
France — 9.1%
	AXA SA	161,385		4,789,628
	BNP Paribas SA	147,260		10,998,941
	Bollore SA =	62,080		337,276
	Bollore SA *,=	302		1,649
	Bouygues SA	54,784		2,846,876
	Casino Guichard Perrachon SA	8,022		486,650
	Cie de Saint-Gobain	20,467		1,129,145
	Cie Generale des Etablissements Michelin	6,031		865,099
	CNP Assurances	29,277		676,389
	Credit Agricole SA	58,593		970,178
	Electricite de France SA	90,875		1,136,158
	Engie SA	296,273		5,095,848
	Natixis SA	125,444		992,790
	Orange SA	358,763		6,230,931

The accompanying notes are an integral part of these financial statements.

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
FRANCE (Continued)
	Peugeot SA	157,210	$	3,198,193
	Renault SA	51,848		5,220,023
	SCOR SE	16,613		668,656
	Societe Generale SA	81,356		4,202,323
	STMicroelectronics NV	40,401		882,489
	Total SA	360,608		19,922,532
	Vivendi SA	36,922		993,225
				71,644,999
Germany — 7.2%
	Allianz SE	21,152		4,860,119
	Bayerische Motoren Werke AG	64,181		6,686,564
	Commerzbank AG *	180,924		2,714,605
	Daimler AG	184,001		15,630,762
	Deutsche Bank AG	177,432		3,376,531
	Deutsche Lufthansa AG	76,690		2,826,745
	Evonik Industries AG	19,914		749,548
	Fraport AG Frankfurt Airport Services
	Worldwide	5,611		618,434
	Fresenius Medical Care AG & Co. KGaA	4,621		486,696
	Hannover Rueck SE	4,156		523,091
	HeidelbergCement AG	30,938		3,350,165
	Innogy SE ±	17,568		688,755
	LANXESS AG	7,784		619,124
	Linde AG *	11,662		2,723,668
	METRO AG *	49,876		996,397
	Muenchener Rueckversicherungs AG	12,888		2,795,056
	RWE AG *	137,398		2,802,567
	Talanx AG *	13,218		540,337
	Telefonica Deutschland Holding AG	72,027		361,761
	Uniper SE	57,491		1,793,494
	Volkswagen AG	6,241		1,263,269
	Wacker Chemie AG	1,082		210,574
				56,618,262
Hong Kong — 2.6%
	Cathay Pacific Airways Ltd. @,*	343,000		532,093
	CK Hutchison Holdings Ltd.	402,624		5,055,443
	Guoco Group Ltd.	5,000		64,253
	Hang Lung Group Ltd.	192,000		706,528
	Hang Lung Properties Ltd.	312,000		762,743
	Henderson Land Development Co., Ltd.	54,938		362,135
	Hopewell Holdings Ltd.	63,500		233,669
	Kerry Properties Ltd.	137,000		616,363
	Li & Fung Ltd.	16,000		8,785
	Melco International Development Ltd.	132,000		388,591
	MTR Corp. Ltd.	49,039		287,473
	New World Development Co., Ltd.	1,317,377		1,979,560
	NWS Holdings Ltd.	183,715		331,554
	Orient Overseas International Ltd. @	11,500		110,984
	Shangri-La Asia Ltd.	209,143		474,884
	Sino Land Co., Ltd.	153,579		272,056
	SJM Holdings Ltd.	433,000		387,951
	Sun Hung Kai Properties Ltd.	173,677		2,898,748
	Swire Pacific Ltd., Series A	120,500		1,115,876
	Swire Pacific Ltd., Series B	185,000		287,936
	Tsim Sha Tsui Properties	60,907		189,437
	Wharf Holdings Ltd. (The)	270,000		933,078
	Wharf Real Estate Investment Co. Ltd. *	73,000		485,866
	Wheelock & Co., Ltd.	251,000		1,792,662
	Yue Yuen Industrial Holdings Ltd.	68,000		267,201
				20,545,869
Ireland — 0.3%
	Bank of Ireland Group PLC *	103,713		882,902
	CRH PLC, ADR @	42,861		1,546,853
	Paddy Power Betfair PLC	558		66,416
				2,496,171
Israel — 0.4%
	Bank Hapoalim B.M.	152,308		1,120,102
	Bank Leumi Le-Israel	239,225		1,441,682
	Israel Discount Bank Ltd., Series A *	1		1
	Mizrahi Tefahot Bank Ltd.	8,760		161,497
	Teva Pharmaceutical Industries Ltd., ADR @	8,545		161,928
				2,885,210
Italy — 1.4%
	Eni SpA	30,347		502,483
	Intesa Sanpaolo SpA	537,820		1,787,489
	Mediobanca SpA	108,169		1,227,781
	Telecom Italia SpA *	2,159,532		1,866,897
	UniCredit SpA *	290,956		5,439,030
				10,823,680
Japan — 22.9%
	Aeon Co., Ltd.	47,300		798,653
	Aisin Seiki Co., Ltd.	15,300		859,543
	Alfresa Holdings Corp.	12,300		288,956
	Amada Holdings Co., Ltd.	11,000		149,758
	Aoyama Trading Co., Ltd.	4,500		168,138
	Asahi Glass Co., Ltd.	48,500		2,100,555
	Asahi Kasei Corp.	72,100		930,085
	Bank of Kyoto Ltd. (The)	8,000		416,774
	Canon Marketing Japan, Inc.	8,000		216,197
	Chiba Bank Ltd. (The)	79,000		657,661
	Chugoku Bank Ltd. (The)	19,700		263,483
	Citizen Watch Co., Ltd.	64,400		472,676
	Coca-Cola West Co., Ltd.	6,675		243,777
	Concordia Financial Group Ltd.	156,300		943,279
	Credit Saison Co., Ltd.	7,600		138,274
	Dai Nippon Printing Co., Ltd.	30,000		669,093
	Dai-ichi Life Holdings, Inc. (The)	138,700		2,860,784
	Daicel Corp.	11,600		131,983
	Daido Steel Co., Ltd.	2,600		160,142
	Daiwa Securities Group, Inc.	197,000		1,235,938
	Denka Co., Ltd.	16,200		649,150
	Denso Corp.	10,500		630,233
	DIC Corp.	13,300		502,844
	Dowa Holdings Co., Ltd.	1,200		48,990
	Ebara Corp.	16,800		640,391
	FUJIFILM Holdings Corp.	68,700		2,807,752
	Fukuoka Financial Group, Inc.	90,000		505,613
	Glory Ltd.	11,200		422,951
	Gunma Bank Ltd. (The)	47,000		284,482
	H2O Retailing Corp.	14,000		293,109
	Hachijuni Bank Ltd. (The)	48,000		275,625
	Hankyu Hanshin Holdings, Inc.	52,100		2,094,635
	Hiroshima Bank Ltd. (The)	24,000		208,955
	Hitachi Capital Corp.	9,900		249,093
	Hitachi Chemical Co., Ltd.	7,600		195,202
	Hitachi Construction Machinery Co., Ltd.	13,600		494,271
	Hitachi Ltd.	660,000		5,142,347
	Hitachi Metals Ltd.	23,100		331,713
	Hitachi Transport System Ltd.	7,700		200,709
	Hokuhoku Financial Group, Inc.	15,000		234,568
	Honda Motor Co., Ltd.	271,700		9,312,673

The accompanying notes are an integral part of these financial statements.

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
JAPAN (Continued)
	House Foods Group, Inc.	700	$	23,235
	Ibiden Co., Ltd. @	32,600		488,096
	Idemitsu Kosan Co., Ltd.	29,800		1,196,761
	Iida Group Holdings Co., Ltd.	36,900		695,917
	Isetan Mitsukoshi Holdings Ltd.	26,300		326,080
	ITOCHU Corp.	152,700		2,850,039
	Iyo Bank Ltd. (The)	29,500		236,419
	J. Front Retailing Co., Ltd.	59,600		1,122,971
	JFE Holdings, Inc.	92,200		2,214,273
	JGC Corp.	3,100		59,950
	JSR Corp.	14,200		279,526
	JTEKT Corp.	41,800		718,214
	JX Holdings, Inc.	421,700		2,720,887
	K's Holdings Corp. @	7,800		199,993
	Kamigumi Co., Ltd.	12,500		276,570
	Kaneka Corp.	80,000		730,597
	Kawasaki Heavy Industries Ltd.	5,700		200,075
	Kawasaki Kisen Kaisha Ltd. @,*	12,200		310,644
	Kobe Steel Ltd. *	68,700		637,156
	Konica Minolta, Inc.	142,000		1,366,124
	Kuraray Co., Ltd.	76,400		1,441,548
	Kurita Water Industries Ltd.	3,100		100,697
	Kyushu Financial Group, Inc.	44,870		271,589
	LIXIL Group Corp.	32,900		890,570
	Marubeni Corp.	174,700		1,265,344
	Mazda Motor Corp.	153,300		2,056,472
	Mebuki Financial Group, Inc.	83,070		351,670
	Medipal Holdings Corp.	27,200		532,775
	Mitsubishi Chemical Holdings Corp.	149,700		1,642,814
	Mitsubishi Corp.	102,900		2,842,935
	Mitsubishi Gas Chemical Co., Inc.	32,700		938,846
	Mitsubishi Heavy Industries Ltd.	53,700		2,006,452
	Mitsubishi Logistics Corp.	2,500		64,899
	Mitsubishi Materials Corp.	35,500		1,263,412
	Mitsubishi UFJ Financial Group, Inc.	300,400		2,203,244
	Mitsubishi UFJ Financial Group, Inc., ADR	1,031,340		7,497,842
	Mitsubishi UFJ Lease & Finance Co., Ltd.	110,200		656,261
	Mitsui & Co., Ltd., ADR @	1,999		652,674
	Mitsui Chemicals, Inc.	47,200		1,518,527
	Mitsui Fudosan Co., Ltd.	76,500		1,714,333
	Mitsui OSK Lines Ltd.	20,900		697,440
	Mizuho Financial Group, Inc.	1,992,700		3,618,428
	MS&AD Insurance Group Holdings, Inc.	59,428		2,011,612
	NEC Corp.	73,400		1,980,351
	NH Foods Ltd.	16,067		391,854
	NHK Spring Co., Ltd.	42,200		464,415
	Nikon Corp.	10,000		201,464
	Nippo Corp.	11,000		257,440
	Nippon Electric Glass Co., Ltd.	8,800		335,833
	Nippon Express Co., Ltd.	24,600		1,635,270
	Nippon Paper Industries Co., Ltd.	30,700		583,620
	Nippon Shokubai Co., Ltd.	4,600		310,681
	Nippon Steel Sumitomo Metal Corp.	124,127		3,184,834
	Nippon Yusen KK *	50,100		1,222,320
	Nissan Motor Co., Ltd.	426,800		4,255,689
	Nisshinbo Holdings, Inc.	23,000		311,702
	NOK Corp.	19,900		464,672
	Nomura Holdings, Inc.	465,300		2,746,581
	Nomura Real Estate Holdings, Inc.	18,700		419,225
	NTN Corp.	95,000		471,311
	Obayashi Corp.	17,000		205,795
	Oji Holdings Corp.	226,000		1,504,327
	Resona Holdings, Inc.	371,600		2,219,871
	Ricoh Co., Ltd.	230,800		2,144,643
	Sankyo Co., Ltd.	5,400		169,896
	SBI Holdings, Inc.	24,100		503,924
	Sega Sammy Holdings, Inc.	20,500		254,351
	Seino Holdings Co., Ltd.	20,400		324,083
	Sekisui House Ltd.	60,400		1,091,140
	Shinsei Bank Ltd.	18,500		320,004
	Shizuoka Bank Ltd. (The)	58,000		599,175
	Showa Denko KK	1,500		64,100
	Sojitz Corp.	145,400		446,491
	Sompo Holdings, Inc.	40,243		1,558,646
	Sumitomo Chemical Co., Ltd.	491,000		3,529,709
	Sumitomo Corp.	55,600		944,966
	Sumitomo Dainippon Pharma Co., Ltd.	14,200		210,968
	Sumitomo Electric Industries Ltd.	177,700		3,004,380
	Sumitomo Forestry Co., Ltd.	33,800		604,755
	Sumitomo Heavy Industries Ltd.	23,400		990,619
	Sumitomo Metal Mining Co., Ltd.	24,300		1,116,711
	Sumitomo Mitsui Financial Group, Inc.	217,400		9,392,529
	Sumitomo Mitsui Trust Holdings, Inc.	27,100		1,075,822
	Sumitomo Rubber Industries Ltd. @	42,800		796,173
	Suzuken Co., Ltd.	9,240		380,097
	T&D Holdings, Inc.	88,200		1,508,422
	Taiheiyo Cement Corp.	20,700		893,770
	Takashimaya Co., Ltd.	47,000		494,715
	TDK Corp.	26,700		2,130,313
	Teijin Ltd.	53,199		1,185,085
	TOKAI RIKA Co., Ltd.	11,500		242,095
	Tokio Marine Holdings, Inc.	50,700		2,313,279
	Tokyo Tatemono Co., Ltd.	27,000		364,713
	Tokyu Fudosan Holdings Corp.	101,100		731,276
	Tosoh Corp.	51,500		1,167,349
	Toyo Seikan Group Holdings Ltd.	35,200		565,449
	Toyoda Gosei Co., Ltd.	15,300		389,306
	Toyota Motor Corp.	234,990		15,043,114
	Toyota Motor Corp., ADR	29,877		3,799,458
	Toyota Tsusho Corp.	33,500		1,348,325
	Ube Industries Ltd.	24,700		726,696
	Yamada Denki Co., Ltd. @	165,300		911,039
	Yamaguchi Financial Group, Inc.	23,000		273,326
	Yokohama Rubber Co., Ltd. (The) @	27,600		676,803
	Zeon Corp.	8,000		115,802
				179,695,738
Netherlands — 4.2%
	ABN AMRO Group NV ±	67,212		2,169,331
	Aegon NV	208,166		1,327,516
	Akzo Nobel NV	2,525		221,223
	ArcelorMittal @,*	79,834		2,579,436
	ArcelorMittal *,=	28,247		918,985
	Fiat Chrysler Automobiles NV *	338,462		6,055,002
	ING Groep NV	438,143		8,056,438
	Koninklijke Ahold Delhaize NV	206,865		4,550,872
	Koninklijke DSM NV	36,637		3,502,204
	Koninklijke Philips NV	49,344		1,865,203
	NN Group NV	42,662		1,848,909
	Randstad Holding NV	2,608		160,341
				33,255,460
New Zealand — 0.1%
	Air New Zealand Ltd.	79,394		179,490
	Auckland International Airport Ltd.	47,346		217,431
	Fletcher Building Ltd.	84,980		457,713
	Fonterra Co-operative Group Ltd.	6,088		27,656
				882,290
Norway — 0.8%
	Aker ASA, A Shares	3,994		196,037

The accompanying notes are an integral part of these financial statements.

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
NORWAY (Continued)
	DNB ASA	82,424	$	1,526,891
	Norsk Hydro ASA	129,344		982,218
	SpareBank 1 SR-Bank ASA	6,429		68,122
	Statoil ASA @	19,583		417,867
	Storebrand ASA	56,200		457,918
	Subsea 7 SA	66,388		994,534
	Yara International ASA	25,784		1,182,963
				5,826,550
Portugal — 0.0%
	Banco Espirito Santo SA *,§	414,564		—
	EDP Renovaveis SA	32,371		270,601
				270,601
Singapore — 0.7%
	BOC Aviation Ltd. ±	5,900		31,453
	CapitaLand Ltd.	269,600		711,569
	City Developments Ltd.	64,900		606,079
	Frasers Centrepoint Ltd.	6,800		10,575
	Golden Agri-Resources Ltd.	811,000		224,360
	Hutchison Port Holdings Trust	1,160,800		481,732
	Keppel Corp. Ltd.	224,800		1,235,396
	Sembcorp Industries Ltd.	232,700		527,183
	Singapore Airlines Ltd.	139,740		1,114,827
	United Industrial Corp. Ltd.	63,243		156,517
	UOL Group Ltd.	47,218		313,151
	Wilmar International Ltd.	165,500		382,366
				5,795,208
Spain — 2.7%
	Banco de Sabadell SA	1,148,372		2,281,758
	Banco Santander SA	1,880,534		12,362,582
	Bankia SA	91,850		439,392
	Mapfre SA	92,433		297,006
	Repsol SA	316,892		5,606,383
				20,987,121
Sweden — 2.7%
	Arjo AB, B Shares *	21,456		61,231
	Boliden AB	77,171		2,639,756
	Getinge AB, B Shares	21,456		311,256
	Holmen AB, B Shares	11,728		623,351
	Millicom International Cellular SA	9,819		663,131
	Nordea Bank AB	493,196		5,970,226
	SSAB AB, A Shares *	13,630		74,604
	SSAB AB, B Shares	227,651		2,672,501
	SSAB AB, Series B *	43,015		191,974
	Svenska Cellulosa AB, Series A	244		2,826
	Svenska Cellulosa AB, Series B	124,943		1,287,797
	Svenska Handelsbanken AB, A Shares	146,314		2,001,247
	Svenska Handelsbanken AB, B Shares	1,918		26,421
	Tele2 AB, B Shares	31,603		388,339
	Telefonaktiebolaget LM Ericsson, B Shares	279,790		1,836,707
	Telia Co. AB	390,069		1,738,004
	Trelleborg AB	39,848		922,958
				21,412,329
Switzerland — 7.9%
	ABB Ltd.	35,538		952,591
	Adecco Group SA	49,724		3,804,120
	Baloise Holding AG	10,839		1,687,389
	Banque Cantonale Vaudoise	37		27,908
	Cie Financiere Richemont SA	69,300		6,279,635
	Clariant AG @,*	75,635		2,115,094
	Credit Suisse Group AG *	139,027		2,482,498
	Dufry AG *	8,794		1,307,661
	Flughafen Zuerich AG	2,721		622,414
	Helvetia Holding AG	352		198,134
	Julius Baer Group Ltd. *	39,125		2,392,991
	LafargeHolcim Ltd. *,µ	79,934		4,507,541
	Novartis AG	116,713		9,869,312
	Novartis AG, ADR	25,980		2,181,281
	Swatch Group AG (The) µ	12,412		948,939
	Swatch Group AG (The) µ	8,156		3,326,178
	Swiss Life Holding AG *	5,678		2,010,273
	Swiss Re AG	47,318		4,430,979
	UBS Group AG *	263,220		4,845,982
	Vifor Pharma AG @	3,119		399,777
	Zurich Insurance Group AG	26,257		7,992,022
				62,382,719
United Kingdom — 17.8%
	Anglo American PLC @	308,715		6,458,499
	Antofagasta PLC	46,804		635,084
	Aviva PLC	164,097		1,122,180
	Barclays PLC, ADR	410,687		4,476,488
	Barratt Developments PLC	126,684		1,107,500
	BHP Billiton PLC, ADR	38,130		1,536,639
	BP PLC, ADR @	445,354		18,718,229
	Carnival PLC, ADR	3,334		220,209
	Coca-Cola European Partners PLC	3,617		144,213
	Glencore PLC *	1,277,911		6,728,953
	HSBC Holdings PLC	140,729		1,457,151
	HSBC Holdings PLC, ADR @	355,216		18,343,354
	J Sainsbury PLC	422,622		1,377,437
	John Wood Group PLC	27,920		245,025
	Kingfisher PLC	420,977		1,919,428
	Lloyds Banking Group PLC	8,529,886		7,838,220
	Lloyds Banking Group PLC, ADR @	414,401		1,554,004
	Old Mutual PLC	433,480		1,356,055
	Pearson PLC	48,365		480,608
	Pearson PLC, ADR @	32,293		317,117
	Royal Bank of Scotland Group PLC *	83,038		311,676
	Royal Bank of Scotland Group PLC, ADR @,*	81,693		624,135
	Royal Dutch Shell PLC, A Shares	19,470		651,928
	Royal Dutch Shell PLC, ADR, Class A @	289,519		19,313,813
	Royal Dutch Shell PLC, ADR, Class B @	246,393		16,826,178
	Royal Mail PLC	103,486		632,241
	Standard Chartered PLC *	316,708		3,335,735
	Tesco PLC	28,781		81,312
	Vodafone Group PLC	6,493,805		20,603,898
	WM Morrison Supermarkets PLC	368,150		1,093,031
				139,510,340
	TOTAL COMMON STOCKS        (Identified Cost $641,815,975)			770,371,824
PREFERRED STOCKS — 1.2%
Germany — 1.2%
	Bayerische Motoren Werke AG, 4.500%	10,242		917,240
	Porsche Automobil Holding SE, 4.640%	16,730		1,400,727
	Volkswagen AG, 4.550%	36,209		7,231,478
				9,549,445
	TOTAL PREFERRED STOCKS        (Identified Cost $10,485,381)			9,549,445

The accompanying notes are an integral part of these financial statements.

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
RIGHTS AND WARRANTS — 0.0%
Spain — 0.0%
	Repsol SA *	316,892	$	144,104
	TOTAL RIGHTS AND WARRANTS
	(Identified Cost $144,527)			144,104
SHORT-TERM INVESTMENTS — 5.7%
Investment Company — 0.4%
	State Street Institutional U.S. Government
	Money Market Fund, 1.210%	3,014,148		3,014,148
Collateral For Securities On Loan — 5.3%
	State Street Navigator Securities Lending
	Government Money Market Portfolio, 1.300%	41,992,954		41,992,954
	TOTAL SHORT-TERM INVESTMENTS
	(Identified Cost $45,007,102)			45,007,102
Total Investments — 105.0%
	(Identified Cost $697,452,985)#			825,072,475
	Liabilities, Less Cash and Other Assets — (5.0%)			(39,345,895	)
Net Assets — 100.0%			$	785,726,580

†	See Note 1
@	A portion or all of the security were held on loan. As of December 31, 2017, the market value of the securities on loan was $67,974,325.
*	Non-income producing security
¥	Traded on the Canada, Toronto Stock Exchange.
=	Traded on the France, Euronext Paris Exchange.
±	144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at December 31, 2017 amounted to $2,889,539 or 0.37% of the net assets of the Fund.
§	Fair valued security. Fair values are determined pursuant to procedures approved by the Fund's Board of Trustees. See Note 1
µ	Traded on the Switzerland, Swiss Exchange.
#	At December 31, 2017, the aggregate cost of investment securities for U.S. federal income tax purposes was $697,452,985. Net unrealized appreciation aggregated $127,619,490 of which $167,038,977 related to appreciated investment securities and $39,419,487 related to depreciated investment securities.

Key to abbreviations:
ADR — American Depository Receipt

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 98.2%
Brazil — 6.5%
	Aliansce Shopping Centers SA *	3,347	$	18,203
	B2W Cia Digital *	17,787		109,925
	B3 SA	2,652		18,212
	Banco Bradesco SA	6,900		66,689
	Banco Bradesco SA, ADR	8,762		89,723
	Banco do Brasil SA	90,948		872,438
	Banco Santander Brasil SA	40,120		385,585
	Cia Siderurgica Nacional SA *	92,383		233,387
	Construtora Tenda SA *	10,255		61,831
	Cosan Logistica SA *	10,575		29,585
	Cosan SA Industria e Comercio	17,167		214,775
	Cyrela Brazil Realty SA Empreendimentos e
	Participacoes	21,700		86,483
	Direcional Engenharia SA *	12,000		20,440
	Duratex SA	46,120		127,914
	Embraer SA, ADR	17,674		422,939
	Estacio Participacoes SA	5,200		51,450
	Ez Tec Empreendimentos e Participacoes SA	8,658		56,509
	Fibria Celulose SA, ADR	22,972		337,688
	Gerdau SA	14,700		45,956
	Gerdau SA, ADR @	124,679		463,806
	Guararapes Confeccoes SA	250		11,308
	International Meal Co. Alimentacao SA *	24,900		65,232
	Iochpe Maxion SA	12,897		89,425
	JBS SA	129,293		382,371
	Kroton Educacional SA	44,963		249,410
	Magnesita Refratarios SA	6,000		91,164
	MRV Engenharia e Participacoes SA	47,664		216,112
	Petroleo Brasileiro SA *	386,643		1,971,039
	Petroleo Brasileiro SA, ADR *	16,254		167,254
	Porto Seguro SA	4,288		46,964
	Restoque Comercio e Confeccoes de Roupas SA *	1,216		11,914
	Santos Brasil Participacoes SA *	32,700		33,419
	SLC Agricola SA	8,505		68,382
	Sul America SA	32,934		185,267
	Suzano Papel e Celulose SA	67,500		380,325
	Tupy SA	9,747		53,626
	Usinas Siderurgicas de Minas Gerais SA *	14,800		48,321
	Vale SA	572,937		6,953,798
	Valid Solucoes e Servicos de Seguranca em
	Meios de Pagamento e Identificacao SA	7,543		42,159
	Via Varejo SA	16,743		123,512
				14,904,540
Chile — 1.5%
	Besalco SA	22,668		26,797
	CAP SA	16,619		212,531
	Cencosud SA	156,242		459,535
	Cia Sud Americana de Vapores SA *	231,075		12,429
	Empresas CMPC SA	112,729		384,660
	Empresas COPEC SA	34,905		553,012
	Empresas La Polar SA *	254,406		24,804
	Enel Americas SA	2,041,971		454,582
	Enel Chile SA, ADR	32,412		184,100
	Enersis Americas SA, ADR	10,932		122,110
	ENTEL Chile SA	9,479		106,589
	Grupo Security SA	151,161		68,794
	Inversiones Aguas Metropolitanas SA	30,490		57,869
	Itau CorpBanca	9,991,522		90,921
	Latam Airlines Group SA, ADR @	23,608		328,151
	Masisa SA *	174,355		13,208
	PAZ Corp. SA	9,073		15,186
	Ripley Corp. SA	107,262		115,558
	Salfacorp SA	43,600		80,767
	Sigdo Koppers SA	27,803		57,558
	Sociedad Matriz SAAM SA	550,961		59,134
	Socovesa SA	23,617		15,351
	Vina Concha y Toro SA	22,108		41,852
				3,485,498
China — 17.2%
	361 Degrees International Ltd.	71,000		24,536
	Agile Group Holdings Ltd.	207,091		314,367
	Agricultural Bank of China Ltd., H Shares	1,731,000		806,471
	Air China Ltd., Class H	64,000		77,657
	Ajisen China Holdings Ltd.	37,000		17,617
	Angang Steel Co., Ltd., H Shares @	116,000		106,158
	Anton Oilfield Services Group *	94,000		10,467
	AviChina Industry & Technology Co., Ltd.	155,000		82,531
	BAIC Motor Corp. Ltd., H Shares ±	75,000		97,724
	Bank of China Ltd., H Shares	5,005,902		2,460,391
	Bank of Chongqing Co., Ltd., H Shares	46,500		37,020
	Bank of Communications Co., Ltd., H Shares	469,400		348,467
	Baoye Group Co., Ltd. Class H *	22,000		15,431
	BBMG Corp., H Shares @	143,000		64,976
	Beijing Capital Land Ltd., H Shares	100,000		51,966
	Beijing Enterprises Holdings Ltd.	33,500		198,954
	Bosideng International Holdings Ltd.	64,000		5,570
	BYD Electronic International Co., Ltd.	24,000		52,283
	C C Land Holdings Ltd. *	172,500		38,197
	Central China Real Estate Ltd. *	56,000		26,234
	CGN Meiya Power Holdings Co., Ltd. *±	152,000		21,401
	Chaowei Power Holdings Ltd.	37,000		22,590
	China Aerospace International Holdings Ltd.	318,000		38,260
	China Agri-Industries Holdings Ltd.	203,700		89,168
	China Aoyuan Property Group Ltd.	156,000		85,659
	China BlueChemical Ltd., H Shares	192,000		60,700
	China Cinda Asset Management Co., Ltd.,
	Class H	330,000		120,801
	China Citic Bank Corp. Ltd., H Shares	485,000		304,178
	China Coal Energy Co., Ltd., H Shares	161,000		72,743
	China Communication Services Corp. Ltd.,
	H Shares	227,600		152,649
	China Communications Construction Co.,
	Ltd., H Shares	306,000		347,796
	China Construction Bank Corp., H Shares	6,184,810		5,699,666
	China Development Bank Financial Leasing
	Co. Ltd., H Shares ±	68,000		16,102
	China Electronics Optics Valley Union
	Holding Co., Ltd.	140,000		13,439
	China Energy Engineering Corp. Ltd., H Shares	64,000		11,059
	China Everbright Bank Co., Ltd., H Shares	213,000		99,509
	China Everbright Ltd.	32,000		71,595
	China Evergrande Group *@	18,000		62,090
	China Foods Ltd. @	46,000		26,907
	China Galaxy Securities Co., Ltd., H Shares	40,500		29,858
	China Harmony New Energy Auto Holding        Ltd. *@	41,000		29,912
	China High Speed Transmission Equipment        Group Co., Ltd. @	23,000		39,742
	China Hongqiao Group Ltd. *@	162,500		181,368
	China Huiyuan Juice Group Ltd. *	84,500		23,362

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
CHINA (Continued)
	China International Capital Corp. Ltd., H Shares ±	27,200	$	56,608
	China Jinmao Holdings Group Ltd.	450,000		198,135
	China Lesso Group Holdings Ltd.	73,000		47,279
	China Lumena New Materials Corp. *@§~	224,000		—
	China Merchants Bank Co., Ltd., H Shares	13,500		53,738
	China Merchants Port Holdings Co., Ltd.	30,421		79,626
	China Minsheng Banking Corp. Ltd., H Shares	337,400		338,141
	China Mobile Ltd.	125,500		1,273,015
	China National Building Material Co., Ltd.,
	H Shares @	364,000		325,663
	China National Materials Co., Ltd., H Shares	121,000		90,136
	China Oil & Gas Group Ltd.	200,000		21,759
	China Oilfield Services Ltd., H Shares	124,000		120,780
	China Oriental Group Co. Ltd. @	38,000		28,356
	China Overseas Grand Oceans Group Ltd.	77,000		42,182
	China Overseas Land & Investment Ltd.	338,000		1,088,041
	China Petroleum & Chemical Corp., ADR	5,861		430,022
	China Petroleum & Chemical Corp., H Shares	2,062,400		1,512,579
	China Railway Construction Corp. Ltd., H Shares	171,500		198,876
	China Railway Group Ltd., H Shares	206,000		152,400
	China Reinsurance Group Corp., H Shares	196,000		44,655
	China Resources Cement Holdings Ltd.	166,000		109,210
	China Resources Enterprise Ltd.	21,456		77,032
	China Resources Land Ltd.	270,000		794,844
	China Resources Pharmaceutical Group Ltd. ±	75,000		97,148
	China SCE Property Holdings Ltd.	151,000		65,132
	China Shanshui Cement Group Ltd. *@§	112,501		63,358
	China Shenhua Energy Co., Ltd.	295,500		765,902
	China Shineway Pharmaceutical Group Ltd.	24,000		22,394
	China Silver Group Ltd.	116,000		35,485
	China Singyes Solar Technologies Holdings        Ltd. @*	36,000		15,620
	China South City Holdings Ltd.	308,000		80,816
	China Southern Airlines Co., Ltd., H Shares	40,000		41,317
	China Taiping Insurance Holdings Co. Ltd.	22,400		84,005
	China Traditional Chinese Medicine
	Holdings Co., Ltd.	110,000		58,570
	China Travel International Investment Hong        Kong Ltd.	240,000		89,391
	China Unicom Hong Kong Ltd. *	132,000		178,414
	China Unicom Hong Kong Ltd., ADR *	55,304		748,263
	China Yurun Food Group Ltd. *@	23,000		2,385
	China ZhengTong Auto Services Holdings Ltd.	41,000		41,510
	China Zhongwang Holdings Ltd. @	154,000		84,364
	Chongqing Rural Commercial Bank Co.,        Ltd., H Shares	226,000		159,675
	CIFI Holdings Group Co., Ltd.	194,000		116,953
	CIMC Enric Holdings Ltd. *@	4,000		3,364
	CITIC Ltd.	320,000		462,008
	Citic Resources Holdings Ltd.	150,000		14,783
	CITIC Securities Co., Ltd., Class H	19,500		40,234
	CNOOC Ltd.	1,367,000		1,963,143
	Comba Telecom Systems Holdings Ltd. @	193,600		37,170
	Concord New Energy Group Ltd.	420,000		18,546
	Coolpad Group Ltd. *§	240,200		26,422
	COSCO SHIPPING Development Co., Ltd.,
	H Shares *	70,200		14,376
	COSCO SHIPPING Energy Transportation
	Co., Ltd., H Shares	92,000		50,281
	COSCO SHIPPING Ports Ltd.	123,835		128,862
	Country Garden Holdings Co., Ltd.	53,000		101,077
	CPMC Holdings Ltd.	25,000		19,807
	CRCC High-Tech Equipment Corp. Ltd., H Shares @	64,000		15,318
	Dah Chong Hong Holdings Ltd.	81,000		37,530
	Dongfeng Motor Group Co., Ltd., H Shares	168,000		203,419
	Dongyue Group Ltd.	111,000		77,572
	Everbright Securities Co., Ltd., Class H @±	16,000		19,967
	Fantasia Holdings Group Co., Ltd.	142,500		19,516
	Far East Horizon Ltd.	32,000		27,319
	Fosun International Ltd.	157,500		349,156
	Fufeng Group Ltd. *	123,000		80,291
	Fullshare Holdings Ltd. @*	77,500		35,710
	Future Land Development Holdings Ltd.	170,000		106,619
	GCL-Poly Energy Holdings Ltd. *@	899,000		161,094
	Gemdale Properties & Investment Corp. Ltd.	226,000		23,431
	Glorious Property Holdings Ltd. *	228,000		21,887
	GOME Retail Holdings Ltd. @	767,000		92,281
	Grand Baoxin Auto Group Ltd. *	23,000		11,511
	Greenland Hong Kong Holdings Ltd.	112,000		44,583
	Greentown China Holdings Ltd. @	57,000		73,394
	Guangshen Railway Co., Ltd., ADR	2,674		89,579
	Guangzhou R&F Properties Co., Ltd., H Shares	109,600		247,176
	Haitong Securities Co., Ltd., Class H	55,600		80,701
	Harbin Bank Co., Ltd., H Shares *±	57,000		17,728
	Harbin Electric Co., Ltd., H Shares	54,000		22,601
	Hengdeli Holdings Ltd.	184,000		8,832
	Hi Sun Technology China Ltd. *	72,000		14,100
	Hilong Holding Ltd.	109,000		15,765
	Hopson Development Holdings Ltd.	58,000		56,865
	Hua Han Health Industry Holdings Ltd. *@§	640,000		43,416
	Huaneng Renewables Corp. Ltd., H Shares	480,000		162,809
	Huishang Bank Corp. Ltd., H Shares	64,000		35,060
	Industrial & Commercial Bank of China        Ltd., H Shares	6,073,000		4,889,275
	Jiangxi Copper Co., Ltd., H Shares	92,000		146,016
	JinkoSolar Holding Co., Ltd. ADR *@	2,344		56,373
	Joy City Property Ltd.	226,000		36,448
	Ju Teng International Holdings Ltd.	56,000		18,278
	K Wah International Holdings Ltd.	55,000		30,059
	Kaisa Group Holdings Ltd. *@	164,000		92,571
	Kingboard Chemical Holdings Ltd.	75,000		405,582
	Kingboard Laminates Holdings Ltd.	35,500		55,343
	Kunlun Energy Co., Ltd. @	318,000		331,316
	KWG Property Holding Ltd.	147,500		172,367
	Legend Holdings Corp., H Shares @±	19,000		87,305
	Logan Property Holdings Co., Ltd. @	62,000		64,120
	Longfor Properties Co., Ltd.	90,500		226,805
	Lonking Holdings Ltd.	161,000		70,682
	Maanshan Iron & Steel Co., Ltd., H Shares *	116,000		54,787
	Maoye International Holdings Ltd.	82,000		8,396
	Metallurgical Corp. of China Ltd., H Shares	76,000		22,373
	Mingfa Group International Co., Ltd. *§	91,000		1,310
	Minmetals Land Ltd.	152,000		25,486

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
CHINA (Continued)
	MMG Ltd. *	131,999	$	65,553
	Modern Land China Co., Ltd.	50,000		10,816
	Nine Dragons Paper Holdings Ltd.	51,000		81,727
	PAX Global Technology Ltd. @	52,000		23,295
	People's Insurance Co. Group of China Ltd.
	(The), H Shares	379,000		186,763
	PetroChina Co., Ltd., H Shares	1,874,000		1,307,244
	Poly Culture Group Corp. Ltd. H Shares	6,400		12,926
	Poly Property Group Co., Ltd. *	229,000		119,294
	Pou Sheng International Holdings Ltd.	87,000		12,583
	Powerlong Real Estate Holdings Ltd.	183,000		88,773
	PW Medtech Group Ltd. *	97,000		17,630
	Qinhuangdao Port Co., Ltd. H Shares *	26,500		8,954
	Red Star Macalline Group Corp. Ltd., H Shares ±	34,200		55,418
	Renhe Commercial Holdings Co., Ltd. *@	726,000		20,815
	Ronshine China Holdings Ltd. *	24,000		26,725
	Seaspan Corp.	3,228		21,789
	Semiconductor Manufacturing International
	Corp. *@	271,800		470,345
	Shandong Chenming Paper Holdings Ltd., H Shares	23,500		42,351
	Shanghai Electric Group Co., Ltd., H Shares *@	104,000		42,863
	Shanghai Industrial Holdings Ltd.	45,000		129,018
	Shanghai Industrial Urban Development Group        Ltd. @	52,000		12,446
	Shanghai Jin Jiang International Hotels        Group Co., Ltd., H Shares	148,000		51,525
	Shanghai Prime Machinery Co., Ltd., Class H	106,000		20,351
	Shengjing Bank Co., Ltd., H Shares ±	28,000		22,112
	Shenzhen International Holdings Ltd.	50,097		95,412
	Shenzhen Investment Ltd.	347,143		143,961
	Shimao Property Holdings Ltd.	147,500		320,946
	Shougang Concord International Enterprises
	Co., Ltd. *@	1,212,000		35,059
	Shougang Fushan Resources Group Ltd.	176,000		37,845
	Shui On Land Ltd.	127,500		35,250
	Shunfeng International Clean Energy Ltd. *	220,000		11,827
	Sino-Ocean Land Holdings Ltd.	246,212		169,859
	Sinofert Holdings Ltd. *	244,000		40,600
	Sinopec Engineering Group Co., Ltd., H Shares	93,000		88,086
	Sinopec Kantons Holdings Ltd.	64,000		41,368
	Sinotrans Ltd., H Shares	170,000		83,337
	Sinotrans Shipping Ltd. @	51,573		13,136
	Sinotruk Hong Kong Ltd.	60,000		67,581
	Skyworth Digital Holdings Ltd.	224,477		96,539
	SOHO China Ltd.	209,000		122,251
	Sunac China Holdings Ltd. @	58,000		240,156
	TCL Multimedia Technology Holdings Ltd.	29,000		14,476
	Technovator International Ltd. *	34,000		10,531
	Texhong Textile Group Ltd.	18,000		23,362
	Tian An China Investment Co., Ltd. *	10,000		7,040
	Tianjin Port Development Holdings Ltd. *	180,000		26,495
	Tianneng Power International Ltd.	36,000		37,415
	Tomson Group Ltd.	24,000		10,168
	Truly International Holdings Ltd.	120,000		51,914
	United Energy Group Ltd.	402,000		29,329
	Universal Medical Financial & Technical
	Advisory Services Co., Ltd. ±	32,000		30,760
	Wasion Group Holdings Ltd. @	48,000		23,469
	Weichai Power Co., Ltd., H Shares	78,000		85,459
	Welling Holding Ltd.	64,000		16,383
	West China Cement Ltd. *	198,000		29,651
	Xiamen International Port Co., Ltd., Class H	94,000		18,288
	Xingda International Holdings Ltd.	73,932		26,212
	Xtep International Holdings Ltd.	37,500		14,639
	Yanzhou Coal Mining Co., Ltd., H Shares	120,000		140,384
	YuanShengTai Dairy Farm Ltd. *	226,000		8,678
	Yuexiu Property Co., Ltd.	863,033		161,276
	Yuzhou Properties Co., Ltd.	153,000		81,662
	Zhongsheng Group Holdings Ltd.	25,000		57,085
	Zoomlion Heavy Industry Science &
	Technology Co., Ltd., H Shares	57,000		24,441
				39,585,191
Colombia — 0.4%
	Almacenes Exito SA	33,596		186,417
	Grupo Argos SA	49,281		344,784
	Grupo de Inversiones Suramericana SA	25,234		340,744
	Grupo Nutresa SA	2,733		25,476
				897,421
Czech Republic — 0.3%
	CEZ, AS	18,401		429,048
	Unipetrol, AS	10,432		184,253
				613,301
Greece — 0.1%
	Alpha Bank AE *	927		1,988
	Ellaktor SA *	11,652		22,649
	GEK Terna Holding Real Estate
	Construction SA *	8,282		44,021
	Hellenic Petroleum SA	6,531		59,634
	Marfin Investment Group Holdings SA *	45,244		6,731
	Mytilineos Holdings SA *	10,238		112,276
	Piraeus Bank SA *	26		96
				247,395
Hungary — 0.3%
	MOL Hungarian Oil & Gas PLC	37,874		439,499
	OTP Bank PLC	8,053		333,368
				772,867
India — 13.3%
	5Paisa Capital Ltd. *	1,015		5,983
	ACC Ltd.	2,312		63,897
	Adani Enterprises Ltd.	48,033		124,546
	Adani Power Ltd. *	109,878		71,614
	Adani Transmissions Ltd. *	35,166		123,331
	Aditya Birla Capital Ltd. *	28,455		82,118
	Aditya Birla Fashion & Retail Ltd. *	32,278		87,310
	Allahabad Bank Ltd. *	20,823		23,995
	Ambuja Cements Ltd.	58,052		246,706
	Andhra Bank *	22,882		20,936
	Apollo Tyres Ltd.	56,881		238,566
	Arvind Ltd.	9,591		67,799
	Ashoka Buildcon Ltd.	4,899		18,774
	Axis Bank Ltd.	134,335		1,184,291
	Axis Bank Ltd. GDR	315		13,766
	Bajaj Finserv Ltd.	1,556		127,596
	Bajaj Holdings & Investment Ltd.	5,460		245,081
	Balkrishna Industries Ltd.	2,050		38,334
	Balkrishna Industries Ltd. §~	2,050		38,334
	Balrampur Chini Mills Ltd.	11,491		23,944
	Bank of Baroda	55,295		139,824
	Bank of India *	14,398		38,348
	Bharat Electronics Ltd.	30,767		87,802
	Bharat Heavy Electricals Ltd.	102,622		148,963
	Bharti Airtel Ltd.	193,898		1,612,184
	Birla Corp. Ltd.	2,074		37,693

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
INDIA (Continued)
	Brigade Enterprises Ltd.	3,480	$	17,174
	Canara Bank	11,933		67,342
	Ceat Ltd.	3,536		108,029
	CG Power and Industrial Solutions Ltd. *	49,779		72,141
	Chambal Fertilizers and Chemicals Ltd.	10,299		24,801
	Cipla Ltd.	6,367		60,550
	Coffee Day Enterprises Ltd. *±	3,077		13,305
	Container Corp. of India Ltd.	1,518		32,913
	Coromandel International Ltd.	5,821		52,895
	Corporation Bank *	735		452
	Cox & Kings Ltd.	11,953		51,106
	Crompton Greaves Consumer Electricals Ltd.	21,044		90,371
	Cyient Ltd.	7,451		68,933
	DCB Bank Ltd.	10,414		31,930
	DCM Shriram Ltd.	4,319		37,826
	Dewan Housing Finance Corp. Ltd.	35,252		321,660
	DLF Ltd.	35,103		142,991
	EID Parry India Ltd.	7,288		42,573
	EIH Ltd.	13,530		30,769
	Engineers India Ltd.	23,542		73,454
	Exide Industries Ltd.	17,849		62,501
	Federal Bank Ltd.	149,915		255,309
	GAIL India Ltd.	74,367		583,611
	GAIL India Ltd., GDR	207		9,843
	Gateway Distriparks Ltd.	5,474		20,133
	Glenmark Pharmaceuticals Ltd.	11,671		108,806
	Graphite India Ltd.	7,288		81,144
	Grasim Industries Ltd.	31,327		571,864
	Great Eastern Shipping Co., Ltd. (The)	11,618		73,264
	Gujarat Alkalies & Chemicals Ltd.	970		11,626
	Gujarat Fluorochemicals Ltd.	5,933		85,982
	Gujarat Narmada Valley Fertilizers &
	Chemicals Ltd.	4,596		35,463
	Gujarat Pipavav Port Ltd.	5,702		12,181
	Gujarat State Petronet Ltd.	27,123		97,099
	Himachal Futuristic Communications Ltd. *	111,266		49,944
	Hindalco Industries Ltd.	169,579		728,371
	Housing Development & Infrastructure Ltd. *	33,952		34,842
	HSIL Ltd.	2,665		21,104
	ICICI Bank Ltd.	120,554		593,539
	ICICI Bank Ltd., ADR	82,445		802,190
	IDBI Bank Ltd. *	16,131		15,151
	Idea Cellular Ltd. *	200,586		340,504
	IDFC Bank Ltd.	103,259		87,684
	IDFC Ltd.	100,426		98,967
	IFCI Ltd. *	68,818		33,046
	IIFL Holdings Ltd.	25,376		267,168
	India Cements Ltd. (The)	43,497		124,983
	Indiabulls Housing Finance Ltd.	5,317		99,380
	Indian Bank	10,338		61,110
	Indian Hotels Co., Ltd. (The)	37,324		68,768
	Infosys Ltd.	22,300		363,791
	Ipca Laboratories Ltd.	4,046		37,717
	Jain Irrigation Systems Ltd.	44,473		87,549
	Jaiprakash Associates Ltd. *	179,807		73,667
	Jammu & Kashmir Bank Ltd. (The) *	24,690		30,501
	Jindal Saw Ltd.	14,261		31,034
	Jindal Steel & Power Ltd. *	75,532		242,592
	JM Financial Ltd.	16,063		39,662
	JSW Energy Ltd.	86,186		124,902
	JSW Steel Ltd.	146,710		621,640
	Jubilant Life Sciences Ltd.	9,690		119,479
	Kalpataru Power Transmission Ltd.	2,760		20,367
	Karnataka Bank Ltd. (The)	25,825		61,359
	Karur Vysya Bank Ltd. (The)	25,567		50,131
	Kaveri Seed Co., Ltd.	2,781		23,920
	KPIT Technologies Ltd.	21,169		59,632
	L&T Finance Holdings Ltd.	33,892		92,366
	Larsen & Toubro Ltd.	25,272		499,441
	LIC Housing Finance Ltd.	9,116		80,480
	Mahindra & Mahindra Financial Services Ltd.	15,527		114,906
	Mahindra & Mahindra Ltd.	68,064		801,380
	Manappuram Finance Ltd.	52,506		101,265
	Mindtree Ltd.	7,326		70,296
	Mphasis Ltd.	16,347		184,913
	MRF Ltd.	96		108,781
	Muthoot Finance Ltd.	15,546		115,571
	National Aluminium Co., Ltd.	68,213		91,802
	Nava Bharat Ventures Ltd.	7,718		17,721
	NCC Ltd.	58,777		123,121
	NIIT Technologies Ltd.	6,690		67,710
	Oberoi Realty Ltd.	10,366		77,793
	Oriental Bank of Commerce *	14,300		27,087
	PC Jeweller Ltd.	7,610		54,600
	Persistent Systems Ltd.	4,682		52,554
	Petronet LNG Ltd.	18,380		73,200
	Piramal Enterprises Ltd.	6,207		278,514
	Power Finance Corp. Ltd.	107,658		204,934
	Prestige Estates Projects Ltd.	14,610		73,202
	PTC India Ltd.	28,037		52,096
	Punjab National Bank *	35,114		94,376
	Rajesh Exports Ltd.	1,459		18,401
	Ramco Cements Ltd. (The)	3,545		43,544
	Rashtriya Chemicals & Fertilizers Ltd.	7,262		10,951
	Raymond Ltd.	1,722		28,518
	Redington India Ltd.	29,666		81,267
	Reliance Communications Ltd. *	167,238		95,112
	Reliance Industries Ltd.	354,872		5,115,628
	Reliance Industries Ltd., GDR ±	20,576		587,445
	Reliance Power Ltd. *	91,910		72,503
	Rural Electrification Corp. Ltd.	117,454		286,884
	Shipping Corp. of India Ltd. *	14,166		20,974
	Shriram City Union Finance Ltd.	2,207		73,304
	Shriram Transport Finance Co., Ltd.	20,278		467,972
	Sintex Plastics Technology Ltd. *	60,470		79,723
	Sobha Ltd.	6,105		59,015
	South Indian Bank Ltd. (The)	112,022		54,495
	Srei Infrastructure Finance Ltd.	9,293		14,523
	SRF Ltd.	2,665		82,723
	State Bank of India	115,109		559,066
	State Bank of India Ltd., GDR	2,800		136,360
	Steel Authority of India Ltd. *	29,636		42,810
	Strides Shasun Ltd.	3,502		45,131
	Syndicate Bank *	19,381		24,322
	Tata Chemicals Ltd.	12,834		147,135
	Tata Global Beverages Ltd.	61,016		302,128
	Tata Motors Ltd. *	174,932		1,181,790
	Tata Steel Ltd.	45,337		519,233
	Tech Mahindra Ltd.	63,552		501,725
	TI Financial Holdings Ltd.	7,629		82,472
	Time Technoplast Ltd.	8,850		28,840

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
INDIA (Continued)
	Tube Investments of India Ltd.	7,629	$	32,152
	TV18 Broadcast Ltd. *	55,772		53,563
	Uflex Ltd.	3,166		24,156
	Union Bank of India *	28,863		65,298
	UPL Ltd.	2,720		32,473
	VA Tech Wabag Ltd.	1,790		17,135
	Vardhman Textiles Ltd.	2,832		61,674
	Vedanta Ltd.	226,544		1,173,227
	Vedanta Ltd., ADR	14,869		309,721
	Vijaya Bank	20,134		21,545
	Welspun Corp. Ltd.	11,246		23,945
	Wipro Ltd.	160,253		783,345
	Wockhardt Ltd.	4,111		59,954
	Zensar Technologies Ltd.	1,122		15,689
				30,572,450
Indonesia — 2.5%
	Adaro Energy Tbk PT	2,688,600		368,587
	Adhi Karya Persero Tbk PT	265,600		36,901
	Agung Podomoro Land Tbk PT	1,262,900		19,547
	Alam Sutera Realty Tbk PT	2,593,800		68,059
	Aneka Tambang Tbk PT *	1,015,016		46,758
	Astra Agro Lestari Tbk PT	61,744		59,844
	Astra Otoparts Tbk PT	19,600		2,976
	Bank Bukopin Tbk PT	428,300		18,625
	Bank Danamon Indonesia Tbk PT	378,773		194,028
	Bank Mandiri Tbk PT	1,653,000		974,682
	Bank Negara Indonesia Persero Tbk PT	1,027,766		749,945
	Bank Pan Indonesia Tbk PT *	935,400		78,596
	Bank Pembangunan Daerah Jawa Barat Dan
	Banten Tbk PT	287,000		50,768
	Bank Pembangunan Daerah Jawa Timur
	Tbk PT	69,000		3,611
	Bank Tabungan Negara Tbk PT	671,490		176,688
	Barito Pacific Tbk PT *	184,800		30,783
	BISI International Tbk PT	94,000		12,436
	Bumi Serpong Damai Tbk PT	972,900		121,904
	Ciputra Development Tbk PT	1,672,677		146,094
	Eagle High Plantations Tbk PT *	1,380,100		18,615
	Gajah Tunggal Tbk PT	177,100		8,876
	Garuda Indonesia Persero Tbk PT *	400,470		8,855
	Global Mediacom Tbk PT	1,084,300		47,152
	Hanson International Tbk PT *	6,335,700		51,367
	Holcim Indonesia Tbk PT *	278,000		17,109
	Indah Kiat Pulp & Paper Corp., Tbk PT	344,500		137,115
	Indo Tambangraya Megah Tbk PT	64,900		99,018
	Indocement Tunggal Prakarsa Tbk PT	12,300		19,899
	Indofood Sukses Makmur Tbk PT	412,300		231,715
	Intiland Development Tbk PT	1,370,300		35,350
	Japfa Comfeed Indonesia Tbk PT	565,400		54,175
	Krakatau Steel Persero Tbk PT *	255,200		7,975
	Lippo Cikarang Tbk PT *	74,400		17,219
	Lippo Karawaci Tbk PT	2,849,275		102,484
	Medco Energi Internasional Tbk PT *	1,572,266		103,137
	Media Nusantara Citra Tbk PT	222,900		21,111
	Mitra Adiperkasa Tbk PT	51,800		23,671
	MNC Investama Tbk PT *	4,910,300		32,573
	Modernland Realty Tbk PT	1,758,100		38,097
	Multipolar Tbk PT	1,293,500		13,633
	Pabrik Kertas Tjiwi Kimia Tbk PT	56,100		12,074
	Panin Financial Tbk PT *	2,998,200		54,804
	Pembangunan Perumahan Persero Tbk PT	281,400		54,756
	Perusahaan Perkebunan London Sumatra
	Indonesia Tbk PT	731,500		76,560
	Ramayana Lestari Sentosa Tbk PT	356,300		31,514
	Salim Ivomas Pratama Tbk PT	482,300		16,494
	Semen Indonesia Persero Tbk PT	392,300		286,255
	Sentul City Tbk PT *	1,477,400		14,156
	Sri Rejeki Isman Tbk PT	996,900		27,921
	Summarecon Agung Tbk PT	528,900		36,839
	Surya Semesta Internusa Tbk PT	393,100		14,922
	Tambang Batubara Bukit Asam Persero Tbk PT	506,000		91,746
	Tiga Pilar Sejahtera Food Tbk PT *	168,600		5,915
	Timah Tbk PT	762,382		43,549
	Tunas Baru Lampung Tbk PT	317,700		28,685
	United Tractors Tbk PT	155,400		405,466
	Vale Indonesia Tbk PT *	362,800		77,280
	Visi Media Asia Tbk PT *	498,300		11,973
	Waskita Beton Precast Tbk PT	1,138,000		34,222
	Waskita Karya Persero Tbk PT	362,700		59,080
	Wijaya Karya Persero Tbk PT	459,200		52,461
	XL Axiata Tbk PT *	600,900		131,097
				5,817,747
Korea — 17.6%
	Asiana Airlines, Inc. *	18,788		79,589
	BNK Financial Group, Inc.	45,789		402,907
	Chongkundang Holdings Corp.	360		24,380
	CJ E&M Corp.	702		64,066
	CJ Hellovision Co., Ltd.	4,225		28,021
	CJ O Shopping Co., Ltd.	354		76,385
	Daeduck Electronics Co.	6,724		61,929
	Daeduck GDS Co., Ltd.	3,582		91,679
	Daelim Industrial Co., Ltd.	4,243		326,583
	Daesang Corp.	3,420		88,012
	Daesang Holdings Co., Ltd.	3,626		33,701
	Daewoo Engineering & Construction Co., Ltd. *	5,588		30,901
	Daewoo Shipbuilding & Marine
	Engineering Co., Ltd. *	1,281		16,632
	Daishin Securities Co., Ltd.	5,898		79,334
	Daou Technology, Inc.	2,100		37,761
	DGB Financial Group, Inc.	24,113		237,628
	Dong Ah Tire & Rubber Co., Ltd.	652		19,459
	Dong Ah Tire & Rubber Co., Ltd. *	897		8,505
	Dong-A Socio Holdings Co., Ltd.	427		51,054
	Dongkuk Steel Mill Co., Ltd.	7,956		81,749
	Dongwon Development Co., Ltd.	7,412		34,479
	Doosan Corp.	1,027		108,403
	Doosan Heavy Industries & Construction
	Co., Ltd.	8,678		124,429
	Doosan Infracore Co., Ltd. *	21,468		174,263
	E-Mart Co., Ltd.	2,632		666,267
	Easy Bio, Inc.	6,222		37,313
	Eugene Corp.	10,995		50,530
	Eugene Investment & Securities Co., Ltd. *	8,694		28,383
	Fila Korea Ltd.	759		57,853
	GS Engineering & Construction Corp. *	6,990		184,781
	GS Holdings Corp.	9,519		553,063
	Halla Holdings Corp.	1,447		84,748
	Hana Financial Group, Inc.	32,935		1,532,075
	Handsome Co., Ltd.	1,970		57,874
	Hanil Cement Co., Ltd.	425		56,770
	Hanjin Kal Corp. *	4,736		80,957
	Hanjin Transportation Co., Ltd.	2,144		52,070
	Hankook Tire Co., Ltd.	1,421		72,474
	Hansol Holdings Co., Ltd. *	6,970		29,721
	Hansol Paper Co., Ltd.	2,232		29,189
	Hanwha Chem Corp. *	20,042		591,590

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
KOREA (Continued)
	Hanwha Corp.	8,404	$	325,782
	Hanwha General Insurance Co., Ltd.	8,055		61,247
	Hanwha Investment & Securities Co., Ltd. *	18,065		45,561
	Hanwha Life Insurance Co., Ltd.	62,161		401,226
	Hanwha Techwin Co., Ltd. *	3,619		120,177
	Heungkuk Fire & Marine Insurance Co., Ltd. *	5,246		26,217
	Humax Co., Ltd.	1,390		11,582
	Hy-Lok Corp.	918		19,294
	Hyosung Corp.	654		85,221
	Hyundai Construction Equipment Co., Ltd. *	684		107,978
	Hyundai Department Store Co., Ltd.	2,735		266,973
	Hyundai Development Co.	2,259		81,345
	Hyundai Electric & Energy System Co., Ltd. *	612		65,170
	Hyundai Engineering & Construction Co., Ltd.	12,316		417,608
	Hyundai Greenfood Co., Ltd.	3,476		48,542
	Hyundai Heavy Industries Co., Ltd. *	3,357		315,145
	Hyundai Home Shopping Network Corp.	431		48,513
	Hyundai Hy Communications & Networks
	Co., Ltd.	3,997		14,748
	Hyundai Marine & Fire Insurance Co., Ltd.	1,575		69,147
	Hyundai Mobis Co., Ltd.	414		101,707
	Hyundai Motor Co.	23,617		3,441,457
	Hyundai Robotics Co., Ltd. *	1,110		395,040
	Hyundai Rotem Co., Ltd. *	2,813		49,268
	Hyundai Steel Co.	17,004		930,769
	Hyundai Wia Corp.	3,011		182,817
	Ilshin Spinning Co., Ltd.	296		30,414
	Industrial Bank of Korea *	38,675		594,277
	Interpark Holdings Corp.	7,348		27,043
	IS Dongseo Co., Ltd.	1,205		39,171
	JB Financial Group Co., Ltd.	14,459		81,982
	KB Financial Group, Inc. *	6,566		388,851
	KB Financial Group, Inc., ADR *	30,036		1,757,406
	KCC Corp.	154		54,807
	KH Vatec Co., Ltd.	2,458		32,259
	Kia Motors Corp.	50,352		1,575,631
	KISWIRE Ltd.	933		28,586
	Kolon Industries, Inc.	2,613		217,231
	Korea Investment Holdings Co., Ltd.	4,655		300,028
	Korea Line Corp. *	2,642		56,391
	Korean Air Lines Co., Ltd. *	3,267		103,300
	Korean Reinsurance Co.	11,902		122,294
	Kumho Tire Co., Inc. *	15,238		62,985
	Kwang Dong Pharmaceutical Co., Ltd.	2,450		20,025
	Kwangju Bank	4,582		51,361
	LF Corp.	3,054		89,291
	LG Chem Ltd. *	202		76,419
	LG Corp.	8,648		735,106
	LG Display Co., Ltd. *	12,166		339,791
	LG Display Co., Ltd., ADR *	62,695		862,683
	LG Electronics, Inc. *	11,707		1,159,163
	LG Hausys Ltd.	907		82,266
	LG International Corp.	4,279		108,519
	LG Uplus Corp.	7,902		103,338
	Lotte Chemical Corp.	1,014		348,561
	Lotte Chilsung Beverage Co., Ltd.	47		58,347
	Lotte Confectionery Co. Ltd. *	72		9,819
	Lotte Confectionery Co., Ltd.	2,487		151,234
	LOTTE Fine Chemicals Co., Ltd.	3,112		188,659
	LOTTE Himart Co., Ltd.	1,781		114,624
	Lotte Shopping Co., Ltd.	1,136		211,166
	LS Corp.	3,430		232,287
	Mando Corp.	214		61,668
	Meritz Fire & Marine Insurance Co., Ltd.	4,237		93,008
	Meritz Securities Co., Ltd.	28,517		121,867
	Mirae Asset Daewoo Co., Ltd.	28,216		242,217
	Mirae Asset Life Insurance Co., Ltd. *	13,679		67,082
	Muhak Co., Ltd.	2,076		38,105
	Namyang Dairy Products Co., Ltd.	41		26,694
	Nexen Corp.	2,630		18,646
	Nexen Tire Corp.	4,225		46,570
	NH Investment & Securities Co., Ltd.	17,467		226,791
	NHN Entertainment Corp. *	844		53,925
	Nong Shim Co., Ltd.	339		112,097
	Nong Shim Holdings Co., Ltd.	185		19,787
	OCI Co., Ltd.	2,081		264,365
	Pan Ocean Co., Ltd. *	20,462		100,728
	Poongsan Corp.	2,993		132,799
	Posco Daewoo Corp.	5,839		98,994
	POSCO, ADR *	51,360		4,012,757
	S&T Dynamics Co., Ltd. *	1,950		13,625
	S&T Motiv Co., Ltd.	920		40,262
	S-Oil Corp.	582		63,607
	Sajo Industries Co., Ltd.	165		10,527
	Samsung C&T Corp.	2,884		339,437
	Samsung Card Co., Ltd.	3,768		139,380
	Samsung Electro-Mechanics Co., Ltd.	877		81,920
	Samsung Electronics Co., Ltd.	29		69,022
	Samsung Fire & Marine Insurance Co., Ltd.	2,179		543,452
	Samsung Heavy Industries Co., Ltd. *	29,124		199,410
	Samsung Life Insurance Co., Ltd.	7,871		915,361
	Samsung SDI Co., Ltd. *	496		94,748
	Samsung Securities Co., Ltd.	7,286		249,094
	Samyang Corp.	427		37,014
	Samyang Holdings Corp.	578		65,869
	SeAH Besteel Corp.	1,570		42,603
	SeAH Steel Corp.	446		40,078
	Sebang Co., Ltd.	1,306		15,371
	Sebang Global Battery Co., Ltd.	944		31,524
	Seohan Co., Ltd.	5,607		11,889
	Shinhan Financial Group Co., Ltd. *	26,743		1,234,042
	Shinhan Financial Group Co., Ltd., ADR *	29,439		1,365,970
	Shinsegae Co., Ltd.	1,093		306,291
	SK Chemicals Co., Ltd. §	3,310		260,335
	SK Gas Co., Ltd.	881		77,521
	SK Holdings Co., Ltd.	395		104,418
	SK Hynix, Inc. *	764		54,594
	SK Innovation Co., Ltd.	11,354		2,168,879
	SK Networks Co., Ltd.	19,140		118,893
	SKC Co., Ltd.	4,392		192,820
	SL Corp.	2,574		58,907
	Ssangyong Cement Industrial Co., Ltd.	3,604		62,785
	Ssangyong Motor Co. *	7,906		37,811
	Sung Kwang Bend Co., Ltd.	4,581		42,705
	Sungwoo Hitech Co., Ltd.	5,817		35,427
	Taekwang Industrial Co., Ltd.	61		75,043
	Taewoong Co., Ltd. *	2,152		38,897
	Taeyoung Engineering & Construction Co., Ltd. *	6,376		61,345
	Tongyang Life Insurance Co., Ltd.	6,487		46,052

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
KOREA (Continued)
	Tongyang, Inc.	18,180	$	33,709
	Unid Co., Ltd.	1,035		45,004
	Wonik Holdings Co., Ltd. *	5,077		37,418
	Woori Bank	35,181		517,585
	Woori Bank, ADR	3,791		169,420
	Young Poong Corp.	19		19,061
	Youngone Corp. *	1,575		46,343
	Youngone Holdings Co., Ltd.	787		40,800
	Yuanta Securities Korea Co., Ltd. *	15,682		56,543
				40,546,267
Malaysia — 2.6%
	Aeon Co. M Bhd	37,500		16,308
	Affin Holdings Bhd	65,370		37,313
	AirAsia Bhd	204,500		169,280
	Alliance Financial Group Berhad	167,400		168,765
	AMMB Holdings Berhad	305,987		333,433
	Batu Kawan Berhad	18,800		91,050
	Berjaya Corp. Berhad *	455,775		37,728
	Berjaya Land Berhad *	215,200		19,143
	Boustead Holdings Berhad	114,039		81,436
	Boustead Plantations Bhd	11,600		4,729
	Bumi Armada Bhd *	491,700		92,946
	Cahya Mata Sarawak Bhd	22,500		21,683
	CIMB Group Holdings Bhd	499,620		807,392
	Coastal Contracts Bhd	53,100		16,663
	DRB-Hicom Berhad	191,500		86,594
	Eastern & Oriental Bhd	81,600		28,833
	Eco World Development Group Bhd *	176,300		60,117
	Ekovest Bhd	210,600		48,136
	Felda Global Ventures Holdings Bhd	258,800		108,073
	Genting Bhd	30,200		68,653
	Genting Malaysia Bhd	43,100		59,959
	HAP Seng Consolidated Berhad	44,800		105,718
	Hap Seng Plantations Holdings Berhad	19,600		12,350
	Hong Leong Bank Bhd	14,300		60,069
	Hong Leong Financial Group Berhad	35,521		156,935
	Hong Leong Industries Bhd	9,900		23,704
	IJM Corp. Berhad	421,460		317,631
	IOI Properties Group Bhd	244,750		111,882
	Jaya Tiasa Holdings Bhd	54,200		14,464
	KNM Group Bhd *	258,360		14,364
	KSL Holdings Bhd *	91,419		24,171
	Mah Sing Group Bhd	205,885		73,767
	Malayan Banking Bhd	173,945		421,216
	Malaysia Airports Holdings Bhd	35,800		77,757
	Malaysia Building Society Bhd	235,486		60,515
	Malaysian Resources Corp. Bhd	336,800		93,209
	Media Prima Bhd	120,700		22,667
	Mega First Corp. Bhd	24,800		22,490
	MISC Berhad	214,220		392,763
	MKH Bhd	63,050		25,395
	MMC Corp. Berhad	137,800		69,802
	Muhibbah Engineering M Bhd	18,200		12,772
	Multi-Purpose Holdings Bhd	86,100		37,019
	Oriental Holdings Berhad	23,560		38,131
	OSK Holdings Berhad	74,455		19,685
	Parkson Holdings Bhd *	57,151		7,273
	Pos Malaysia Berhad	21,200		27,502
	PPB Group Berhad	18,000		76,679
	Press Metal Bhd	21,560		28,715
	RHB Capital Berhad	130,771		161,565
	Sapura Energy Bhd	662,200		116,175
	Sarawak Oil Palms Bhd	20,500		19,755
	Selangor Properties Bhd	6,500		7,870
	SP Setia Bhd Group	88,711		87,681
	Star Publications Malaysia Bhd	2,200		897
	Sunway Bhd	260,647		104,980
	Supermax Corp. Bhd	71,200		35,187
	Ta Ann Holdings Bhd	33,360		30,170
	TA Enterprise Bhd	140,200		20,959
	TA Global Berhad	55,560		4,874
	TAN Chong Motor Holdings Bhd	9,600		3,345
	Time dotCom Bhd	35,580		80,004
	UEM Sunrise Bhd *	225,600		57,975
	UMW Holdings Bhd *	75,700		97,267
	UMW Oil & Gas Corp. Bhd *	716,531		54,001
	Unisem M Bhd	58,900		53,122
	United Malacca Bhd	7,800		12,547
	UOA Development Bhd	105,700		62,422
	Wah Seong Corp. Bhd *	3,573		980
	WCT Holdings Bhd *	159,955		64,029
	YTL Corp. Berhad	868,845		294,123
				6,076,807
Mexico — 3.4%
	Alfa SAB de CV, Class A	432,223		475,912
	Alpek SA de CV	61,784		73,748
	Axtel SAB de CV *	61,878		11,770
	Cemex SAB de CV *	1,439,154		1,076,667
	Cemex SAB de CV, ADR *	54,278		407,085
	Coca-Cola Femsa SAB de CV, Series L	5,503		38,387
	Consorcio ARA SAB de CV	33,090		12,908
	Corpovael SA de CV	14,843		11,014
	Credito Real SAB de CV SOFOM ER	28,241		35,275
	El Puerto de Liverpool SAB de CV, Series C	8,508		53,802
	Elementia SAB de CV *±	22,420		27,081
	Fomento Economico Mexicano SAB de CV	3,325		31,272
	Genomma Lab Internacional SAB de CV,       Series B *	44,630		46,576
	Grupo Aeromexico SAB de CV *	36,839		53,696
	Grupo Aeroportuario del Pacifico SAB de        CV, ADR	1,924		197,710
	Grupo Carso SAB de CV, Series A	40,727		134,200
	Grupo Cementos de Chihuahua SAB de CV	12,907		60,208
	Grupo Comercial Chedraui SA de CV	54,670		100,123
	Grupo Elektra SAB de CV	3,140		112,377
	Grupo Financiero Banorte SAB de CV	218,259		1,198,052
	Grupo Financiero Inbursa SA	193,280		316,424
	Grupo Financiero Interacciones SA de CV	16,197		71,922
	Grupo Financiero Santander Mexico SAB        de CV, Class B	230,619		337,205
	Grupo Herdez SAB de CV	24,163		56,160
	Grupo Industrial Saltillo SAB de CV	17,740		29,963
	Grupo Mexico SAB de CV, Series B	492,938		1,627,792
	Grupo Sanborns SAB de CV	49,041		48,885
	Grupo Simec SAB de CV, Series B *	9,186		28,671
	Industrias Bachoco SAB de CV, ADR	1,639		93,915
	Industrias Bachoco SAB de CV, Series B	5,634		26,871
	Industrias CH SAB de CV, Series B *	23,916		102,171
	Industrias Penoles SAB de CV	2,394		50,029
	La Comer SAB de CV *	37,216		38,233
	Mexichem SAB de CV	150,008		371,310
	Minera Frisco SAB de CV, Class A1 *	59,337		34,463
	Nemak SAB de CV ±	56,001		40,643
	Organizacion Cultiba SAB de CV	12,807		10,194
	Organizacion Soriana SAB de CV, Class B *	98,861		199,557

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
MEXICO (Continued)
	Promotora y Operadora de Infraestructura
	SAB de CV	5,314	$	52,504
	Rassini SAB de CV	2,836		10,098
	Rassini SAB de CV, Class A	3,380		5,974
	TV Azteca SAB de CV	109,303		19,456
	Vitro SAB de CV, Series A	11,941		42,808
				7,773,111
Philippines — 1.1%
	Alliance Global Group, Inc. *	479,100		153,558
	Ayala Corp.	1,760		35,785
	Bank of the Philippine Islands	31,410		68,017
	BDO Unibank, Inc.	83,457		274,178
	Belle Corp.	180,000		13,990
	Bloomberry Resorts Corp. *	110,000		24,018
	Cebu Air, Inc.	23,560		47,196
	CEMEX Holdings Philippines, Inc. *±	125,000		12,220
	China Banking Corp.	36,076		24,065
	Cosco Capital, Inc.	257,000		39,641
	DMCI Holdings, Inc.	47,300		13,644
	East West Banking Corp.	48,100		30,785
	Emperador, Inc.	147,300		21,688
	Energy Development Corp.	161,936		18,620
	Filinvest Land, Inc.	1,435,000		54,042
	First Philippine Holdings Corp.	33,750		41,917
	GT Capital Holdings, Inc.	3,945		102,102
	JG Summit Holdings, Inc.	302,750		437,265
	Lopez Holdings Corp.	414,200		46,465
	LT Group, Inc.	220,200		82,663
	Megaworld Corp.	1,270,700		131,346
	Metropolitan Bank & Trust	38,258		77,712
	Petron Corp.	421,800		77,482
	Philex Mining Corp.	66,900		8,121
	Philippine National Bank *	30,748		34,924
	Premium Leisure Corp.	846,000		22,879
	Rizal Commercial Banking Corp.	34,780		38,563
	Robinsons Land Corp.	319,900		136,496
	Robinsons Retail Holdings, Inc.	22,800		43,938
	San Miguel Corp.	67,120		150,052
	San Miguel Pure Foods Co., Inc.	1,120		11,869
	Security Bank Corp.	32,430		163,319
	Top Frontier Investment Holdings, Inc. *	8,630		49,443
	Travellers International Hotel Group, Inc.	183,800		14,654
	Union Bank of the Philippines	2,590		4,496
	Vista Land & Lifescapes, Inc.	975,500		117,052
				2,624,205
Poland — 1.5%
	Alior Bank SA *	2,291		52,323
	Asseco Poland SA	14,266		180,243
	Bank Handlowy w Warszawie SA	369		8,680
	Bank Millennium SA *	87,626		225,047
	Ciech SA *	1,973		32,591
	Cyfrowy Polsat SA	17,892		127,780
	Enea SA	32,379		106,970
	Grupa Azoty SA	6,701		133,983
	Grupa Lotos SA	18,149		300,837
	Kernel Holding SA	5,526		75,438
	KGHM Polska Miedz SA	12,060		385,260
	LC Corp. SA	26,490		20,927
	Lubelski Wegiel Bogdanka SA	963		18,535
	mBank SA *	171		22,843
	Netia SA	36,890		57,016
	Orbis SA	1,581		42,012
	PGE SA *	128,687		445,476
	PKP Cargo SA *	3,933		62,255
	Polski Koncern Naftowy Orlen SA	20,229		616,003
	Powszechna Kasa Oszczednosci Bank        Polski SA *	38,215		486,450
	Stalprodukt SA	83		12,029
	Tauron Polska Energia SA *	117,990		103,383
	Vistula Group SA *	11,906		14,981
				3,531,062
Russia — 1.8%
	Gazprom PAO, ADR	346,393		1,527,593
	Lukoil PJSC, ADR	38,049		2,177,164
	Magnitogorsk Iron & Steel Works PJSC, GDR	5,402		52,615
	Magnitogorsk Iron & Steel Works PJSC, GDR	493		4,802
	Rosneft Oil Co. PJSC, GDR	69,235		345,483
	RusHydro PJSC, ADR	43,136		51,763
				4,159,420
South Africa — 7.9%
	Adcock Ingram Holdings Ltd.	2,265		10,682
	Aeci Ltd.	22,951		185,500
	African Oxygen Ltd.	8,358		18,915
	African Phoenix Investments Ltd. *	72,611		3,580
	African Rainbow Minerals Ltd.	8,645		93,797
	Alexander Forbes Group Holdings Ltd.	100,385		55,984
	Allied Electronics Corp. Ltd., Class A *	12,228		11,939
	Alviva Holdings Ltd.	8,204		12,234
	Anglo American Platinum Ltd. *	3,988		113,930
	AngloGold Ashanti Ltd.	9,833		102,220
	AngloGold Ashanti Ltd., ADR	47,680		485,859
	ArcelorMittal South Africa Ltd. *	23,974		7,499
	Ascendis Health Ltd.	19,546		27,962
	Assore Ltd.	2,081		60,550
	Aveng Ltd. *	43,063		6,961
	Barclays Africa Group Ltd.	80,281		1,180,872
	Barloworld Ltd.	39,661		511,482
	Bidvest Group Ltd. (The)	3,233		56,988
	Blue Label Telecoms Ltd.	3,193		3,850
	Caxton & CTP Publishers & Printers Ltd.	18,814		18,172
	Clover Industries Ltd.	27,051		28,642
	Consolidated Infrastructure Group Ltd. *	13,903		4,248
	DataTec Ltd. @	43,259		199,748
	EOH Holdings Ltd.	6,411		34,945
	Exxaro Resources Ltd.	30,820		404,789
	Gold Fields Ltd., ADR	163,422		702,715
	Grindrod Ltd. *	36,236		39,977
	Group Five Ltd.	12,182		12,701
	Harmony Gold Mining Co., Ltd., ADR @	55,043		102,930
	Hudaco Industries Ltd.	4,134		48,114
	Impala Platinum Holdings Ltd. *	54,743		143,533
	Imperial Holdings Ltd.	34,161		723,780
	Investec Ltd.	35,003		253,827
	Invicta Holdings Ltd.	2,388		9,853
	KAP Industrial Holdings Ltd.	132,422		85,088
	Kumba Iron Ore Ltd. @	9,976		305,694
	Lewis Group Ltd.	16,007		34,207
	Liberty Holdings Ltd.	21,825		219,494
	Life Healthcare Group Holdings Ltd.	145,643		326,659
	Merafe Resources Ltd.	282,183		33,983

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
SOUTH AFRICA (Continued)
	Metair Investments Ltd.	23,331	$	40,543
	Mmi Holdings Ltd.	152,272		258,453
	Mondi Ltd.	1,108		28,592
	Mpact Ltd.	27,799		54,823
	MTN Group Ltd.	245,879		2,714,655
	Murray & Roberts Holdings Ltd.	70,150		68,662
	Nampak Ltd. *	66,852		87,641
	Nedbank Group Ltd.	27,286		564,796
	Omnia Holdings Ltd.	11,411		136,397
	Peregrine Holdings Ltd.	23,191		47,872
	PPC Ltd. *	147,503		83,095
	Raubex Group Ltd.	16,897		27,232
	RCL Foods Ltd.	15,951		19,596
	Reunert Ltd.	18,811		109,620
	Royal Bafokeng Platinum Ltd. *	9,415		21,307
	Sandown Capital Pty Ltd. *	11,003		2,890
	Sanlam Ltd.	5,068		35,637
	Sappi Ltd.	35,887		259,599
	Sasol Ltd.	25,120		869,338
	Sasol Ltd., ADR @	44,369		1,517,864
	Sibanye-Stillwater	210,109		268,654
	Standard Bank Group Ltd.	207,913		3,287,958
	Steinhoff International Holdings NV @	277,126		104,153
	Super Group Ltd. *	56,256		188,013
	Telkom SA SOC Ltd.	55,054		214,120
	Tongaat Hulett Ltd.	15,539		143,967
	Trencor Ltd.	18,684		72,486
	Tsogo Sun Holdings Ltd.	43,003		84,668
	Wilson Bayly Holmes-Ovcon Ltd.	6,827		85,770
				18,082,304
Taiwan — 16.1%
	A-DATA Technology Co., Ltd.	20,000		47,381
	Ability Enterprise Co., Ltd.	25,195		16,848
	AcBel Polytech, Inc.	46,000		34,394
	Acer, Inc. *	332,884		270,146
	Alpha Networks, Inc.	53,200		42,548
	Altek Corp.	23,905		25,304
	Ambassador Hotel (The)	20,000		15,626
	AmTRAN Technology Co., Ltd.	99,360		54,591
	Arcadyan Technology Corp.	17,000		29,649
	Ardentec Corp.	61,092		77,087
	Asia Cement Corp.	269,269		255,167
	Asia Optical Co., Inc.	19,000		61,357
	Asia Pacific Telecom Co., Ltd. *	192,000		64,390
	Asia Polymer Corp.	27,578		17,886
	Asia Vital Components Co., Ltd.	53,000		57,705
	Asustek Computer, Inc.	78,000		732,597
	AU Optronics Corp.	868,000		361,685
	AU Optronics Corp., ADR @	73,574		306,068
	BES Engineering Corp.	229,000		63,101
	Capital Securities Corp.	239,661		93,421
	Career Technology MFG. Co., Ltd.	39,000		52,488
	Casetek Holdings Ltd.	20,000		68,552
	Cathay Financial Holding Co., Ltd.	937,000		1,684,544
	Cathay Real Estate Development Co., Ltd.	70,000		38,695
	Chang Hwa Commercial Bank Ltd.	597,265		332,165
	Cheng Loong Corp.	114,000		62,443
	Cheng Uei Precision Industry Co., Ltd.	62,543		105,084
	Chia Hsin Cement Corp.	22,000		9,869
	Chin-Poon Industrial Co., Ltd.	55,000		107,381
	China Airlines Ltd. *	422,111		165,250
	China Bills Finance Corp.	110,000		56,925
	China Development Financial Holding Corp.	1,322,468		451,066
	China Life Insurance Co., Ltd.	266,513		268,228
	China Metal Products	31,000		29,585
	China Motor Corp.	71,195		62,203
	China Steel Corp.	2,044,800		1,700,650
	China Synthetic Rubber Corp.	64,324		94,783
	Chipbond Technology Corp.	97,000		183,840
	ChipMOS TECHNOLOGIES, Inc.	34,000		30,277
	Chun Yuan Steel	30,000		11,543
	Chung Hung Steel Corp. *	105,000		43,752
	Chung Hwa Pulp Corp.	79,367		31,204
	Chung-Hsin Electric & Machinery        Manufacturing Corp.	87,000		65,049
	Clevo Co.	71,000		69,190
	CMC Magnetics Corp. *	288,337		41,179
	Compal Electronics, Inc.	671,000		480,276
	Compeq Manufacturing Co., Ltd.	127,000		163,879
	Continental Holdings Corp.	42,000		22,935
	Coretronic Corp.	64,800		74,254
	CSBC Corp. *	67,240		25,533
	CTBC Financial Holding Co., Ltd.	2,578,280		1,776,122
	CyberTAN Technology, Inc.	37,000		22,567
	D-Link Corp. *	77,112		27,467
	Darfon Electronics Corp.	17,000		16,938
	Darwin Precisions Corp.	38,000		47,311
	Depo Auto Parts Ind Co., Ltd.	12,000		36,332
	Dynapack International Technology Corp.	23,000		34,664
	E Ink Holdings, Inc.	105,000		169,363
	E.Sun Financial Holding Co., Ltd.	1,224,299		777,568
	Elite Semiconductor Memory Technology, Inc.	45,000		64,645
	Elitegroup Computer Systems Co., Ltd. *	58,877		39,273
	Entie Commercial Bank Co., Ltd.	45,000		20,112
	Epistar Corp. *	128,828		195,460
	Eternal Materials Co., Ltd.	42,048		43,520
	Eva Airways Corp.	334,469		178,145
	Everest Textile Co., Ltd.	43,680		20,770
	Evergreen International Storage & Transport Corp.	54,000		25,677
	Evergreen Marine Corp. Taiwan Ltd. *	245,938		135,124
	Everlight Chemical Industrial Corp.	56,000		35,660
	Everlight Electronics Co., Ltd.	51,000		77,035
	Far Eastern Department Stores Ltd.	134,220		67,655
	Far Eastern International Bank	308,101		98,771
	Far Eastern New Century Corp.	519,338		467,707
	Farglory Land Development Co., Ltd.	51,721		55,791
	Federal Corp.	75,590		34,419
	Feng Hsin Iron & Steel Co.	54,000		101,074
	First Financial Holding Co., Ltd.	1,168,658		767,756
	First Steamship Co., Ltd. *	36,000		10,888
	FocalTech Systems Co., Ltd.	26,000		27,172
	Formosa Chemicals & Fibre Corp.	115,000		398,038
	Formosa Taffeta Co., Ltd.	46,000		48,383
	Formosan Rubber Group, Inc.	55,080		30,077
	Formosan Union Chemical	19,715		12,024
	Foxconn Technology Co., Ltd.	71,127		203,640
	Fubon Financial Holding Co., Ltd.	1,119,211		1,906,816
	Fulltech Fiber Glass Corp.	31,000		23,699
	Gemtek Technology Corp.	47,000		39,879
	Genius Electronic Optical Co., Ltd. *	4,000		36,225
	Getac Technology Corp.	45,000		66,838
	Gigabyte Technology Co., Ltd.	76,000		137,910
	Gigastorage Corp. *	77,000		42,176
	Gintech Energy Corp. *	57,805		34,576
	Gloria Material Technology Corp.	94,392		62,963

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
TAIWAN (Continued)
	Goldsun Building Materials Co., Ltd. *	193,953	$	63,677
	Grand Pacific Petrochemical	168,000		177,549
	Great Wall Enterprise Co., Ltd.	88,300		99,550
	Greatek Electronics, Inc.	33,000		57,775
	Green Energy Technology, Inc. *	40,149		23,745
	Green Seal Holding Ltd.	13,000		28,264
	Hannstar Board Corp.	36,000		26,191
	HannStar Display Corp.	443,770		148,229
	HannsTouch Solution, Inc. *	30,000		9,073
	Hey Song Corp.	31,750		33,555
	Highwealth Construction Corp.	101,000		143,566
	Hiroca Holdings Ltd.	8,000		30,781
	Ho Tung Chemical Corp. *	108,688		37,254
	Holy Stone Enterprise Co., Ltd.	12,740		47,949
	Hon Hai Precision Industry Co., Ltd.	419,335		1,341,489
	Hong Pu Real Estate Development Co., Ltd.	45,000		32,436
	Hsin Kuang Steel Co., Ltd.	20,000		18,818
	HTC Corp. *	69,000		169,494
	Hua Nan Financial Holdings Co., Ltd.	927,245		521,913
	Huaku Development Co., Ltd.	39,000		90,952
	Hung Sheng Construction Co., Ltd.	66,000		56,777
	Ichia Technologies, Inc. *	72,000		40,042
	Innolux Corp.	1,550,757		646,181
	Inventec Co., Ltd.	388,282		309,884
	ITEQ Corp.	20,000		43,887
	Jih Sun Financial Holdings Co., Ltd.	235,822		66,408
	KEE TAI Properties Co., Ltd.	99,000		34,266
	Kindom Construction Corp.	42,000		28,792
	King Yuan Electronics Co., Ltd.	185,100		188,157
	King's Town Bank Co., Ltd.	121,000		151,461
	Kinpo Electronics	230,000		81,540
	Kinsus Interconnect Technology Corp.	44,000		80,138
	Kuoyang Construction Co., Ltd. *	39,000		23,262
	L&K Engineering Co., Ltd.	16,000		18,280
	LCY Chemical Corp.	61,000		99,417
	Lealea Enterprise Co., Ltd. *	109,406		43,015
	Lextar Electronics Corp. *	40,000		35,889
	Li Peng Enterprise Co., Ltd. *	91,245		27,964
	Lien Hwa Industrial Corp.	82,923		101,987
	Lingsen Precision Industries Ltd.	41,000		20,735
	Lite-On Semiconductor Corp.	21,000		30,485
	Lite-On Technology Corp.	319,874		436,409
	Long Bon International Co., Ltd.	56,000		28,886
	Long Chen Paper Co., Ltd.	44,249		62,228
	Lotes Co., Ltd.	12,000		81,456
	Lumax International Corp., Ltd.	7,200		13,525
	Macronix International *	102,344		152,011
	Masterlink Securities Corp.	120,725		35,294
	MediaTek, Inc.	32,000		316,145
	Mega Financial Holding Co., Ltd.	1,210,850		978,576
	Mercuries & Associates Holdings Ltd.	56,014		47,528
	Mercuries Life Insurance Co., Ltd. *	112,790		61,401
	Micro-Star International Co., Ltd.	35,374		91,055
	MIN AIK Technology Co., Ltd.	25,600		23,141
	Mitac Holdings Corp.	48,059		57,654
	Motech Industries, Inc. *	36,775		27,743
	Nan Ya Printed Circuit Board Corp. *	24,200		21,225
	Nantex Industry Co., Ltd.	33,000		26,060
	Nanya Technology Corp.	31,000		79,379
	Neo Solar Power Corp. *	91,849		42,439
	Nien Hsing Textile Co., Ltd.	21,957		20,364
	OptoTech Corp.	57,722		41,509
	Orient Semiconductor Electronics Ltd. *	62,000		19,688
	Oriental Union Chemical Corp. *	58,000		61,687
	Pan Jit International, Inc.	24,000		24,195
	Pan-International Industrial Corp.	34,380		29,287
	Pegatron Corp.	288,249		697,412
	POU Chen Corp.	292,133		378,437
	Powertech Technology, Inc.	23,000		68,014
	President Securities Corp. *	109,122		52,620
	Prince Housing & Development Corp.	148,970		60,322
	Qisda Corp.	315,400		224,161
	Radiant Opto-Electronics Corp.	66,000		156,802
	Radium Life Tech Co., Ltd. *	99,488		42,458
	Realtek Semiconductor Corp.	14,000		51,279
	Rich Development Co., Ltd.	120,978		40,450
	Ritek Corp. *	188,247		29,478
	Ruentex Development Co., Ltd. *	84,916		91,169
	Sampo Corp.	62,000		27,501
	San Fang Chemical Industry Co., Ltd.	13,000		14,809
	Sanyang Industry Co., Ltd.	76,573		55,065
	Shihlin Electric & Engineering Corp.	27,000		37,472
	Shin Kong Financial Holding Co., Ltd.	881,813		311,139
	Shin Zu Shing Co., Ltd.	16,000		40,325
	Shining Building Business Co., Ltd. *	68,145		24,502
	Shinkong Insurance Co., Ltd.	30,000		28,933
	Shinkong Synthetic Fibers Corp.	186,151		62,867
	Sigurd Microelectronics Corp.	53,000		58,684
	Simplo Technology Co., Ltd.	12,600		70,498
	Sincere Navigation Corp.	27,000		19,189
	Sino-American Silicon Products, Inc. *	47,000		120,507
	Sinon Corp.	25,000		14,198
	SinoPac Financial Holdings Co., Ltd.	1,143,230		371,492
	Sirtec International Co., Ltd.	15,000		20,389
	Solar Applied Materials Technology Co. *	22,039		15,701
	Supreme Electronics Co., Ltd.	39,000		39,185
	Synnex Technology International Corp.	138,300		188,453
	Systex Corp.	20,000		39,854
	TA Chen Stainless Pipe Co., Ltd.	94,348		67,848
	Taichung Commercial Bank Co., Ltd.	338,259		112,645
	Taiflex Scientific Co., Ltd.	25,740		51,725
	Tainan Spinning Co., Ltd.	142,427		65,091
	Taishin Financial Holding Co., Ltd.	990,450		460,969
	Taiwan Business Bank	480,264		135,404
	Taiwan Cement Corp.	609,092		746,052
	Taiwan Cogeneration Corp.	19,000		17,079
	Taiwan Cooperative Financial Holding Co., Ltd.	830,676		463,371
	Taiwan Fertilizer Co., Ltd.	87,000		112,118
	Taiwan FU Hsing Industrial Co., Ltd.	21,000		26,534
	Taiwan Glass Industrial Corp. *	169,321		127,168
	Taiwan Hon Chuan Enterprise Co., Ltd.	36,925		71,347
	Taiwan PCB Techvest Co., Ltd.	28,000		29,968
	Taiwan Shin Kong Security Co., Ltd.	10,000		12,988
	Taiwan Styrene Monomer	46,000		35,089
	Taiwan Surface Mounting Technology Co., Ltd.	27,518		32,550
	Taiwan Union Technology Corp.	24,000		67,584
	Tatung Co., Ltd. *	298,784		192,774
	Teco Electric & Machinery Co., Ltd.	247,000		236,554
	Test Rite International Co., Ltd.	36,000		27,703
	Thye Ming Industrial Co., Ltd.	10,000		13,173
	Ton Yi Industrial Corp.	120,000		56,253
	Tong Hsing Electronic Industries Ltd.	17,000		77,121

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
TAIWAN (Continued)
	Tong Yang Industry Co., Ltd.	2,921	$	5,654
	TPK Holding Co., Ltd. *	35,000		98,325
	Tripod Technology Corp.	25,000		78,129
	TSRC Corp.	72,000		90,126
	Tung Ho Steel Enterprise Corp.	119,000		103,171
	TXC Corp.	56,000		74,802
	TYC Brother Industrial Co., Ltd.	21,000		23,429
	U-Ming Marine Transport Corp. *	47,000		57,647
	Unimicron Technology Corp.	197,000		107,905
	Union Bank of Taiwan	147,593		45,927
	Unitech Printed Circuit Board Corp. *	66,000		51,454
	United Microelectronics Corp.	2,099,513		1,001,834
	Universal Cement Corp.	46,836		36,120
	UPC Technology Corp.	130,303		82,319
	USI Corp.	129,540		71,390
	Wah Lee Industrial Corp.	25,000		46,877
	Walsin Lihwa Corp.	385,000		227,700
	Wan Hai Lines Ltd.	100,650		65,108
	Waterland Financial Holdings Co., Ltd.	162,000		51,662
	Wei Chuan Foods Corp. *	41,000		29,140
	Winbond Electronics Corp.	373,893		294,631
	Wisdom Marine Lines Co., Ltd. *	58,280		56,599
	Wistron Corp.	444,380		357,642
	WPG Holdings Ltd.	245,000		324,378
	WT Microelectronics Co., Ltd.	71,265		108,244
	Xxentria Technology Materials Corp.	11,000		24,027
	Yageo Corp.	12,439		147,553
	Yang Ming Marine Transport Corp. *	111,100		42,934
	YC INOX Co., Ltd.	50,000		44,945
	Yeong Guan Energy Technology Group Co., Ltd.	18,000		38,591
	YFY, Inc. *	150,385		70,497
	Yieh Phui Enterprise Co., Ltd.	151,691		62,188
	Yuanta Financial Holding Co., Ltd.	1,088,815		504,919
	Yulon Motor Co., Ltd.	123,272		100,039
	Yung Chi Paint & Varnish Manufacturing        Co., Ltd.	5,000		13,610
	Zhen Ding Technology Holding Ltd.	62,000		136,465
	Zinwell Corp.	43,000		45,661
				37,001,830
Thailand — 2.8%
	AP Thailand PCL	308,500		86,615
	Asia Aviation PCL	299,900		56,594
	Bangchak Corp. PCL	74,000		92,529
	Bangkok Bank PCL, NVDR	23,100		143,179
	Bangkok Insurance PCL	2,100		23,069
	Bangkokland PCL	1,039,700		57,105
	Banpu PCL	178,550		106,834
	Cal-Comp Electronics Thailand PCL	121,100		11,073
	Charoen Pokphand Foods PCL	407,200		299,871
	Esso Thailand PCL *	67,600		36,507
	GFPT PCL	49,100		21,243
	Golden Land Property Development PCL	80,600		20,280
	Hana Microelectronics PCL	43,900		59,943
	Indorama Ventures PCL	47,600		77,776
	IRPC PCL	427,900		92,565
	Kasikornbank PCL, NVDR	12,000		85,425
	Khon Kaen Sugar Industry PCL	135,600		19,389
	Kiatnakin Bank PCL	37,800		91,919
	Krung Thai Bank PCL	560,075		329,961
	MBK PCL	41,900		24,942
	Precious Shipping PCL *	87,600		28,223
	Pruksa Holding PCL	59,400		42,832
	PTT Exploration & Production PCL	263,600		808,837
	PTT Global Chemical PCL	197,928		516,228
	PTT PCL	167,700		2,253,839
	Quality Houses PCL	280,800		27,916
	Sansiri PCL	950,800		63,601
	Siam Commercial Bank PCL	11,400		52,470
	Star Petroleum Refining PCL	93,200		48,902
	Thai Airways International PCL *	92,500		49,103
	Thai Oil PCL	80,100		254,383
	Thaicom PCL	48,300		18,526
	Thanachart Capital PCL	81,200		140,150
	Thoresen Thai Agencies PCL	166,348		45,683
	Tisco Financial Group PCL	8,700		23,625
	TMB Bank PCL	899,300		83,335
	TPI Polene PCL	755,100		47,266
	True Corp. PCL *	532,300		101,266
	Vinythai PCL	42,500		26,995
				6,369,999
Turkey — 1.3%
	Akbank TAS	201,994		524,902
	Anadolu Efes Biracilik Ve Malt Sanayii AS	4,490		28,666
	Dogan Sirketler Grubu Holding AS *	220,612		50,635
	EIS Eczacibasi Ilac ve Sinai ve Finansal        Yatirimlar Sanayi ve Ticaret AS	8,587		9,990
	Enka Insaat ve Sanayi AS	39,535		62,893
	Kardemir Karabuk Demir Celik Sanayi ve        Ticaret AS, Class A *	34,111		26,547
	Kardemir Karabuk Demir Celik Sanayi ve        Ticaret AS, Class D *	116,190		98,396
	Koza Altin Isletmeleri AS *	2,999		30,223
	Koza Anadolu Metal Madencilik Isletmeleri AS *	13,776		23,405
	Sekerbank TAS *	54,778		26,446
	Selcuk Ecza Deposu Ticaret ve Sanayi AS	11,784		11,192
	Tekfen Holding AS	22,706		101,834
	Trakya Cam Sanayi AS	69,227		84,376
	Turk Hava Yollari *	76,773		317,786
	Turk Sise ve Cam Fabrikalari AS	107,062		132,751
	Turkiye Garanti Bankasi AS	83,753		236,864
	Turkiye Halk Bankasi AS	89,739		255,213
	Turkiye Is Bankasi	249,445		458,681
	Turkiye Sinai Kalkinma Bankasi AS	162,898		61,885
	Turkiye Vakiflar Bankasi TAO	113,664		203,009
	Yapi ve Kredi Bankasi AS *	100,385		114,938
				2,860,632
	TOTAL COMMON STOCKS        (Identified Cost $194,796,051)			225,922,047
PREFERRED STOCKS — 1.8%
Brazil — 1.7%
	Banco ABC Brasil SA, 7.120%	18,126		93,879
	Banco do Estado do Rio Grande do Sul SA,
	PF B, 10.740%	22,800		102,415
	Cia Brasileira de Distribuicao, 2.550%	500		11,897
	Cia Ferro Ligas da Bahia - FERBASA, 9.920%	4,895		30,207
	Marcopolo SA, 0.058%	88,210		106,104
	Petroleo Brasileiro SA, 0.998% *	377,007		1,829,855
	Petroleo Brasileiro SA, ADR, 0.900% *	142,818		1,403,901
	Unipar Carbocloro SA, 40.990%	3,300		15,768
	Usinas Siderurgicas de Minas Gerais SA, PF        A, 1.910% *	85,012		233,219
				3,827,245
Colombia — 0.1%
	Avianca Holdings SA, 2.500%	41,262		40,786

The accompanying notes are an integral part of these financial statements.

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2017 (Unaudited) (Continued)

		SHARES	VALUE†
PREFERRED STOCKS (Continued)
COLOMBIA (Continued)
	Grupo Argos SA, 1.430%	12,517	$	80,443
	Grupo de Inversiones Suramericana SA,        1.120%	11,110		145,183
				266,412
	TOTAL PREFERRED STOCKS        (Identified Cost $4,706,064)			4,093,657
RIGHTS AND WARRANTS — 0.0%
Hong Kong — 0.0%
	TCL Multimedia *§~	9,667		544
Indonesia — 0.0%
	Medco Energi Internasional Tbk PT *	393,066		7,938
				7,938
Malaysia — 0.0%
	Spsetia RCPS I B *§	31,310		6,808
	Sunway Bhd *	33,511		4,720
				11,528
	TOTAL RIGHTS AND WARRANTS
	(Identified Cost $0)			20,010
SHORT-TERM INVESTMENTS — 2.1%
Investment Company — 0.3%
	State Street Institutional U.S. Government        Money Market Fund, 1.210%	559,050		559,050
Collateral For Securities On Loan — 1.8%
	State Street Navigator Securities Lending        Government Money Market Portfolio,        1.300%	4,223,683		4,223,683
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $4,782,733)			4,782,733
Total Investments — 102.1%
	(Identified Cost $204,284,848)#			234,818,447
	Liabilities, Less Cash and Other Assets — (2.1%)			(4,791,308	)
Net Assets — 100.0%			$	230,027,139

†	See Note 1
@	A portion or all of the security were held on loan. As of December 31, 2017, the market value of the securities on loan was $5,096,764.
*	Non-income producing security
±	144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at December 31, 2017 amounted to $842,189 or 0.40% of the net assets of the Fund.
§	Fair valued security. Fair values are determined pursuant to procedures approved by the Fund's Board of Trustees. See Note 1
~	Bankrupt/delisted security
#	At December 31, 2017, the aggregate cost of investment securities for  U.S. federal income tax purposes was $204,284,848. Net unrealized appreciation aggregated $30,533,599 of which $47,166,400 related to appreciated investment securities and $16,632,801 related to depreciated investment securities.

Key to abbreviations:
ADR — American Depository Receipt
GDR — Global Depository Receipt
NVDR — Non-Voting Depository Receipt

The accompanying notes are an integral part of these financial statements.

DFA INVESTMENT DIMENSIONS GROUP INC.

THE DFA INVESTMENT TRUST COMPANY

DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES

Schedules of Investments/Summary Schedules of Portfolio Holdings

Investment Abbreviations
	ADR	American Depositary Receipt
	P.L.C.	Public Limited Company
Investment Footnotes
	†	See Note B to Financial Statements.
	††	Securities that have generally been fair value factored. See Note B to Financial Statements.
	*	Non-Income Producing Securities.
	#	Total or Partial Securities on Loan.
	@	Security purchased with cash proceeds from Securities on Loan.
	§	Affiliated Fund.
Financial Highlights
	(A)	Computed using average shares outstanding.
	(B)	Represents the combined ratios for the respective portfolio and its respective pro-rata share of its Master Fund(s).
All Statements, Schedules and Notes to Financial Statements
	—	Amounts designated as — are either zero or rounded to zero.
	SEC	Securities and Exchange Commission

THE JAPANESE SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

June 30, 2017
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (90.4%)
Consumer Discretionary — (17.4%)
	Adastria Co., Ltd.	194,640	$	5,424,619	0.2%
#	Adventure, Inc.	1,400		120,369	0.0%
#	Aeon Fantasy Co., Ltd.	49,332		1,420,530	0.0%
*	AGORA Hospitality Group Co., Ltd.	468,000		145,961	0.0%
	Ahresty Corp.	137,600		1,361,436	0.0%
	Aisan Industry Co., Ltd.	204,900		1,624,826	0.1%
*	Akebono Brake Industry Co., Ltd.	608,200		1,912,660	0.1%
#*	Allied Architects, Inc.	39,600		503,527	0.0%
#	Alpen Co., Ltd.	111,900		1,995,996	0.1%
#	Alpha Corp.	32,900		673,782	0.0%
	Alpine Electronics, Inc.	277,500		4,163,368	0.1%
	Amiyaki Tei Co., Ltd.	25,900		957,868	0.0%
	Amuse, Inc.	70,298		1,916,706	0.1%
*	Anrakutei Co., Ltd.	2,200		91,064	0.0%
#	AOI TYO Holdings, Inc.	109,931		1,085,171	0.0%
	AOKI Holdings, Inc.	268,400		3,410,997	0.1%
	Aoyama Trading Co., Ltd.	304,000		10,851,305	0.3%
#	Arata Corp.	52,900		1,801,222	0.1%
	Arcland Sakamoto Co., Ltd.	176,200		2,372,290	0.1%
	Arcland Service Holdings Co., Ltd.	93,200		1,662,424	0.1%
	Asahi Broadcasting Corp.	39,100		283,997	0.0%
	Asahi Co., Ltd.	105,600		1,233,531	0.0%
	Asante, Inc.	27,100		468,904	0.0%
	Asatsu-DK, Inc.	215,700		5,408,626	0.2%
#	Ashimori Industry Co., Ltd.	254,000		678,720	0.0%
#	ASKUL Corp.	112,700		3,469,369	0.1%
#	Asti Corp.	72,000		380,745	0.0%
#	Atom Corp.	524,700		3,593,145	0.1%
	Atsugi Co., Ltd.	994,000		1,069,201	0.0%
	Autobacs Seven Co., Ltd.	455,700		7,406,590	0.2%
	Avex Group Holdings, Inc.	225,400		3,024,698	0.1%
	Beenos, Inc.	25,700		336,732	0.0%
	Belluna Co., Ltd.	291,800		3,490,063	0.1%
*	Best Denki Co., Ltd.	360,200		499,266	0.0%
#	Bic Camera, Inc.	546,600		5,807,097	0.2%
#	Bookoff Corp.	59,400		417,542	0.0%
#	BRONCO BILLY Co., Ltd.	68,300		1,598,602	0.1%
	Can Do Co., Ltd.	65,500		983,762	0.0%
	Central Automotive Products, Ltd.	40,600		541,289	0.0%
	Central Sports Co., Ltd.	35,800		1,434,100	0.0%
#	Ceres, Inc.	8,400		117,299	0.0%
	CHIMNEY Co., Ltd.	27,800		687,127	0.0%
	Chiyoda Co., Ltd.	102,100		2,676,242	0.1%
	Chofu Seisakusho Co., Ltd.	132,900		3,172,248	0.1%
	Chori Co., Ltd.	71,800		1,340,888	0.0%
	Chuo Spring Co., Ltd.	196,000		600,568	0.0%
	Clarion Co., Ltd.	677,000		2,582,784	0.1%
	Cleanup Corp.	129,700		999,117	0.0%
	Coco's Japan Co., Ltd.	18,600		347,054	0.0%
#	Colowide Co., Ltd.	363,400		6,194,712	0.2%
	Corona Corp.	86,700		878,362	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
#	Create Restaurants Holdings, Inc.	271,300	$	2,451,505	0.1%
#	D.A. Consortium Holdings, Inc.	118,700		1,554,014	0.1%
	Daido Metal Co., Ltd.	200,500		1,821,614	0.1%
#	Daidoh, Ltd.	143,200		563,208	0.0%
	Daiichikosho Co., Ltd.	99,200		4,659,557	0.1%
#	Daikoku Denki Co., Ltd.	51,800		795,248	0.0%
	Daikyonishikawa Corp.	221,700		2,968,668	0.1%
	Dainichi Co., Ltd.	51,200		357,597	0.0%
	Daisyo Corp.	47,200		754,608	0.0%
	Daiyu Lic Holdings Co., Ltd.	5,300		37,361	0.0%
	DCM Holdings Co., Ltd.	565,700		4,963,596	0.1%
	Descente, Ltd.	250,600		3,393,387	0.1%
	Diamond Dining Co., Ltd.	22,900		461,998	0.0%
	Doshisha Co., Ltd.	152,700		2,907,994	0.1%
	Doutor Nichires Holdings Co., Ltd.	195,386		4,148,729	0.1%
	Dunlop Sports Co., Ltd.	76,600		769,117	0.0%
	Dynic Corp.	174,000		286,481	0.0%
	Eagle Industry Co., Ltd.	147,200		2,499,078	0.1%
#	EDION Corp.	513,900		4,668,127	0.1%
#	ES-Con Japan, Ltd.	209,400		890,138	0.0%
	ESCRIT, Inc.	16,200		102,518	0.0%
*	Evolable Asia Corp.	19,500		521,578	0.0%
	Exedy Corp.	193,000		5,456,498	0.2%
	F-Tech, Inc.	56,500		722,359	0.0%
	FCC Co., Ltd.	231,400		4,678,423	0.1%
	Fields Corp.	85,300		917,542	0.0%
	Fine Sinter Co., Ltd.	9,800		188,853	0.0%
	First Juken Co., Ltd.	23,200		320,813	0.0%
	First-corp, Inc.	39,800		400,749	0.0%
	FJ Next Co., Ltd.	93,400		701,282	0.0%
	Foster Electric Co., Ltd.	155,800		2,693,616	0.1%
	France Bed Holdings Co., Ltd.	139,600		1,241,356	0.0%
#*	FreakOut Holdings, Inc.	28,000		1,046,527	0.0%
	Fuji Co., Ltd.	111,400		2,853,931	0.1%
#	Fuji Corp.	24,900		433,153	0.0%
	Fuji Corp., Ltd.	151,500		1,007,943	0.0%
	Fuji Kiko Co., Ltd.	137,400		903,433	0.0%
#	Fuji Kyuko Co., Ltd.	261,000		2,827,168	0.1%
	Fuji Oozx, Inc.	6,000		23,324	0.0%
	Fujibo Holdings, Inc.	68,500		1,924,181	0.1%
	Fujikura Rubber, Ltd.	107,000		626,729	0.0%
#	Fujio Food System Co., Ltd.	27,600		413,844	0.0%
#	Fujishoji Co., Ltd.	47,100		479,119	0.0%
#	Fujita Kanko, Inc.	45,800		1,504,588	0.1%
	FuKoKu Co., Ltd.	45,400		406,560	0.0%
#	Funai Electric Co., Ltd.	121,700		975,359	0.0%
#	Furukawa Battery Co., Ltd. (The)	89,000		623,832	0.0%
	Furyu Corp.	45,100		543,762	0.0%
	Futaba Industrial Co., Ltd.	365,800		3,318,920	0.1%
	G-Tekt Corp.	110,800		2,069,276	0.1%
	Gakken Holdings Co., Ltd.	31,300		916,117	0.0%
	Gakkyusha Co., Ltd.	35,500		489,714	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
#	Genki Sushi Co., Ltd.	18,700	$	375,543	0.0%
	Geo Holdings Corp.	223,300		2,317,415	0.1%
	Gfoot Co., Ltd.	45,800		333,084	0.0%
	GLOBERIDE, Inc.	62,299		1,075,732	0.0%
#	Gokurakuyu Holdings Co., Ltd.	40,600		290,387	0.0%
	Goldwin, Inc.	4,000		245,466	0.0%
#	Golf Digest Online, Inc.	52,500		390,621	0.0%
	Gourmet Kineya Co., Ltd.	85,000		837,515	0.0%
	GSI Creos Corp.	306,000		376,224	0.0%
	Gunze, Ltd.	1,080,000		3,877,539	0.1%
	H-One Co., Ltd.	128,300		1,408,990	0.0%
	H2O Retailing Corp.	333,000		6,075,637	0.2%
	Hagihara Industries, Inc.	36,300		954,835	0.0%
#	Hakuyosha Co., Ltd.	7,100		190,513	0.0%
	Hamee Corp.	24,000		346,598	0.0%
	Handsman Co., Ltd.	29,100		420,283	0.0%
	Happinet Corp.	98,800		1,733,810	0.1%
#	Harada Industry Co., Ltd.	23,300		172,346	0.0%
	Hard Off Corp. Co., Ltd.	57,900		596,180	0.0%
	Haruyama Holdings, Inc.	49,100		450,581	0.0%
	Heian Ceremony Service Co., Ltd.	6,700		55,884	0.0%
	Heiwa Corp.	101,000		2,254,780	0.1%
	HI-LEX Corp.	67,600		1,715,696	0.1%
	Hiday Hidaka Corp.	117,656		2,930,222	0.1%
#	Himaraya Co., Ltd.	35,900		282,071	0.0%
#	Hiramatsu, Inc.	174,500		1,028,454	0.0%
	HIS Co., Ltd.	249,300		7,513,841	0.2%
	Honeys Holdings Co., Ltd.	106,040		1,147,002	0.0%
	Hoosiers Holdings	181,100		1,572,605	0.1%
#	Hotland Co., Ltd.	49,000		622,930	0.0%
	I K K, Inc.	63,900		448,219	0.0%
#	IBJ, Inc.	103,500		686,673	0.0%
	Ichibanya Co., Ltd.	77,158		2,641,450	0.1%
	Ichikoh Industries, Ltd.	286,000		2,308,628	0.1%
#	IDOM, Inc.	433,200		2,993,240	0.1%
	IJT Technology Holdings Co., Ltd.	126,780		680,131	0.0%
#	Imagica Robot Holdings, Inc.	87,500		558,687	0.0%
	Imasen Electric Industrial	107,700		1,263,330	0.0%
	Imperial Hotel, Ltd.	12,300		243,409	0.0%
#	Intage Holdings, Inc.	105,400		2,087,889	0.1%
#*	Izutsuya Co., Ltd.	61,699		240,037	0.0%
#	Janome Sewing Machine Co., Ltd.	110,600		880,320	0.0%
	Japan Best Rescue System Co., Ltd.	22,900		56,054	0.0%
	Japan Wool Textile Co., Ltd. (The)	345,700		2,887,128	0.1%
	JINS, Inc.	84,100		4,685,377	0.1%
#	Joban Kosan Co., Ltd.	36,599		586,937	0.0%
	Jolly - Pasta Co., Ltd.	16,800		244,274	0.0%
	Joshin Denki Co., Ltd.	212,000		3,061,688	0.1%
#	Joyful Honda Co., Ltd.	34,600		1,057,916	0.0%
#	JP-Holdings, Inc.	374,800		1,005,442	0.0%
	JVC Kenwood Corp.	965,730		2,884,405	0.1%
#	K's Holdings Corp.	110,600		2,162,453	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
*	Kadokawa Dwango	335,333	$	4,337,491	0.1%
*	Kappa Create Co., Ltd.	92,600		1,051,548	0.0%
	Kasai Kogyo Co., Ltd.	146,700		1,898,952	0.1%
	Kawai Musical Instruments Manufacturing Co., Ltd.	45,200		952,124	0.0%
	Keihin Corp.	267,500		3,664,895	0.1%
#	Keiyo Co., Ltd.	194,600		1,352,319	0.0%
#	KFC Holdings Japan, Ltd.	93,000		1,649,155	0.1%
	Ki-Star Real Estate Co., Ltd.	36,500		677,867	0.0%
*	Kintetsu Department Store Co., Ltd.	291,000		909,640	0.0%
	Kitamura Co., Ltd.	2,000		12,490	0.0%
*	KNT-CT Holdings Co., Ltd.	697,000		1,074,498	0.0%
#	Kohnan Shoji Co., Ltd.	188,500		3,514,589	0.1%
#*	Kojima Co., Ltd.	180,400		494,684	0.0%
	Komatsu Seiren Co., Ltd.	193,700		1,244,243	0.0%
	Komehyo Co., Ltd.	36,800		489,050	0.0%
	Komeri Co., Ltd.	202,200		5,151,778	0.2%
#	Konaka Co., Ltd.	132,560		710,552	0.0%
	Koshidaka Holdings Co., Ltd.	56,300		1,408,678	0.0%
#	Kourakuen Holdings Corp.	61,200		995,650	0.0%
	KU Holdings Co., Ltd.	130,900		1,128,633	0.0%
	Kura Corp.	69,200		3,183,157	0.1%
	Kurabo Industries, Ltd.	1,241,000		2,862,805	0.1%
	KYB Corp.	1,157,000		5,941,865	0.2%
#	Kyoritsu Maintenance Co., Ltd.	176,362		5,136,608	0.2%
#*	Laox Co., Ltd.	190,100		999,002	0.0%
#	LEC, Inc.	83,200		2,047,369	0.1%
#	LIFULL Co., Ltd.	364,500		3,203,122	0.1%
#	Look, Inc.	228,000		499,627	0.0%
#	Mamiya-Op Co., Ltd.	25,800		276,981	0.0%
	Mars Engineering Corp.	55,100		1,212,620	0.0%
#*	Maruzen CHI Holdings Co., Ltd.	63,000		204,103	0.0%
#	Matsuya Co., Ltd.	188,500		1,805,883	0.1%
	Matsuya Foods Co., Ltd.	54,300		2,031,607	0.1%
#*	Meganesuper Co., Ltd.	637,300		396,712	0.0%
	Meiko Network Japan Co., Ltd.	146,800		1,957,414	0.1%
#	Meiwa Estate Co., Ltd.	65,400		465,525	0.0%
	Mikuni Corp.	127,400		534,081	0.0%
#	Misawa Homes Co., Ltd.	164,000		1,474,713	0.0%
	Mitsuba Corp.	208,690		3,863,006	0.1%
	Mitsui Home Co., Ltd.	165,000		1,088,100	0.0%
	Mizuno Corp.	594,000		3,389,381	0.1%
#	Monogatari Corp. (The)	31,500		1,609,639	0.1%
#	Morito Co., Ltd.	64,100		529,789	0.0%
	Mr Max Corp.	102,200		496,911	0.0%
	Murakami Corp.	15,500		302,326	0.0%
	Musashi Seimitsu Industry Co., Ltd.	145,900		4,233,389	0.1%
	Nafco Co., Ltd.	36,700		545,019	0.0%
	Nagawa Co., Ltd.	25,400		901,545	0.0%
#*	Naigai Co., Ltd.	544,000		314,788	0.0%
#	Nakayamafuku Co., Ltd.	19,700		137,863	0.0%
#	Nextage Co., Ltd.	37,700		519,451	0.0%
	Nice Holdings, Inc.	444,000		605,231	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Nichirin Co., Ltd.	39,800	$	840,056	0.0%
	Nihon Eslead Corp.	42,400		692,321	0.0%
	Nihon House Holdings Co., Ltd.	245,100		1,155,766	0.0%
#	Nihon Plast Co., Ltd.	67,400		782,018	0.0%
	Nihon Tokushu Toryo Co., Ltd.	82,400		1,201,402	0.0%
	Nippon Felt Co., Ltd.	58,200		264,212	0.0%
	Nippon Piston Ring Co., Ltd.	48,600		970,040	0.0%
	Nippon Seiki Co., Ltd.	254,400		5,128,802	0.2%
	Nippon View Hotel Co., Ltd.	29,700		365,567	0.0%
	Nishikawa Rubber Co., Ltd.	21,500		416,617	0.0%
	Nishimatsuya Chain Co., Ltd.	300,800		3,082,094	0.1%
	Nissan Shatai Co., Ltd.	318,900		3,184,984	0.1%
	Nissan Tokyo Sales Holdings Co., Ltd.	208,000		781,959	0.0%
	Nissei Build Kogyo Co., Ltd.	388,000		2,156,438	0.1%
	Nissin Kogyo Co., Ltd.	230,200		3,667,955	0.1%
	Nittan Valve Co., Ltd.	86,000		300,969	0.0%
	Nojima Corp.	135,300		2,105,067	0.1%
	Ohashi Technica, Inc.	41,800		522,653	0.0%
	Ohsho Food Service Corp.	70,300		2,680,676	0.1%
*	Oisix.daichi Inc.	17,300		349,523	0.0%
	Onward Holdings Co., Ltd.	736,000		5,443,434	0.2%
#	Ootoya Holdings Co., Ltd.	20,000		361,350	0.0%
#*	Open Door, Inc.	15,200		464,761	0.0%
#	OPT Holdings, Inc.	86,700		1,127,492	0.0%
#	Otsuka Kagu, Ltd.	66,800		547,628	0.0%
	Pacific Industrial Co., Ltd.	261,100		3,400,617	0.1%
#	PAL GROUP Holdings Co., Ltd.	75,500		1,965,883	0.1%
	PALTAC Corp.	214,634		7,233,132	0.2%
#	PanaHome Corp.	507,200		5,408,345	0.2%
	PAPYLESS Co., Ltd.	27,400		719,209	0.0%
	Parco Co., Ltd.	123,400		1,486,790	0.1%
	Paris Miki Holdings, Inc.	161,800		676,865	0.0%
#	PC Depot Corp.	240,641		1,243,949	0.0%
	People Co., Ltd.	17,000		278,670	0.0%
#	Pepper Food Service Co., Ltd.	36,500		1,387,009	0.0%
	PIA Corp.	28,000		941,479	0.0%
	Piolax, Inc.	170,100		4,749,081	0.1%
*	Pioneer Corp.	2,016,400		4,049,775	0.1%
	Plenus Co., Ltd.	133,800		2,826,040	0.1%
#	Press Kogyo Co., Ltd.	623,200		2,902,197	0.1%
#	Pressance Corp.	214,000		2,829,803	0.1%
	Proto Corp.	68,100		1,059,862	0.0%
#	Raccoon Co., Ltd.	56,800		332,288	0.0%
	Regal Corp.	10,000		25,787	0.0%
	Renaissance, Inc.	60,600		1,067,347	0.0%
#*	Renown, Inc.	306,000		397,876	0.0%
#	Resol Holdings Co., Ltd.	168,000		549,963	0.0%
	Resorttrust, Inc.	490,300		9,047,013	0.3%
	Rhythm Watch Co., Ltd.	559,000		1,143,843	0.0%
#	Riberesute Corp.	39,200		296,089	0.0%
#	Ride On Express Co., Ltd.	33,200		300,744	0.0%
#	Right On Co., Ltd.	91,325		797,998	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Riken Corp.	55,900	$	2,527,550	0.1%
	Ringer Hut Co., Ltd.	136,100		2,947,067	0.1%
	Riso Kyoiku Co., Ltd.	211,700		1,678,078	0.1%
	Round One Corp.	456,600		4,322,910	0.1%
#	Royal Holdings Co., Ltd.	186,600		4,272,405	0.1%
*	Royal Hotel, Ltd. (The)	6,000		10,569	0.0%
	Sac's Bar Holdings, Inc.	113,850		1,279,466	0.0%
	Saizeriya Co., Ltd.	194,300		5,657,077	0.2%
#	Sakai Ovex Co., Ltd.	29,799		478,916	0.0%
	San Holdings, Inc.	17,700		350,193	0.0%
#*	Sanden Holdings Corp.	714,000		2,069,729	0.1%
#	Sanei Architecture Planning Co., Ltd.	50,300		788,587	0.0%
	Sangetsu Corp.	328,750		5,715,619	0.2%
#	Sanko Marketing Foods Co., Ltd.	27,800		240,018	0.0%
	Sankyo Seiko Co., Ltd.	186,900		648,886	0.0%
	Sanoh Industrial Co., Ltd.	141,600		1,003,088	0.0%
#	Sanrio Co., Ltd.	306,400		6,018,933	0.2%
	Sanyei Corp.	2,000		69,925	0.0%
	Sanyo Electric Railway Co., Ltd.	411,000		2,117,081	0.1%
	Sanyo Housing Nagoya Co., Ltd.	57,900		574,314	0.0%
#	Sanyo Shokai, Ltd.	69,400		1,105,705	0.0%
#	Scroll Corp.	166,300		562,882	0.0%
#	Seiko Holdings Corp.	979,407		4,015,234	0.1%
	Seiren Co., Ltd.	306,800		4,840,088	0.1%
#	Senshukai Co., Ltd.	213,600		1,540,575	0.1%
#	Septeni Holdings Co., Ltd.	609,000		1,914,640	0.1%
#	SFP Holdings Co., Ltd.	52,700		682,619	0.0%
#	Shidax Corp.	111,200		431,352	0.0%
	Shikibo, Ltd.	779,000		1,012,173	0.0%
	Shimachu Co., Ltd.	297,200		7,090,824	0.2%
	Shimojima Co., Ltd.	27,900		282,606	0.0%
#	Shobunsha Publications, Inc.	258,500		1,651,406	0.1%
	Shochiku Co., Ltd.	54,000		689,007	0.0%
	Shoei Co., Ltd.	69,700		1,952,449	0.1%
*	Showa Corp.	317,500		3,082,163	0.1%
	SKY Perfect JSAT Holdings, Inc.	835,600		3,599,172	0.1%
#	Snow Peak, Inc.	22,200		648,809	0.0%
	SNT Corp.	92,800		584,595	0.0%
	Soft99 Corp.	68,600		549,266	0.0%
	Sotoh Co., Ltd.	41,400		421,633	0.0%
	SPK Corp.	19,800		467,857	0.0%
	St Marc Holdings Co., Ltd.	104,200		3,191,362	0.1%
	Starts Corp., Inc.	185,900		4,429,193	0.1%
	Step Co., Ltd.	45,100		577,025	0.0%
#	Studio Alice Co., Ltd.	57,700		1,176,968	0.0%
	Suminoe Textile Co., Ltd.	336,000		811,540	0.0%
	Sumitomo Riko Co., Ltd.	235,200		2,428,023	0.1%
#	Sun Corp.	104,900		694,280	0.0%
	Suncall Corp.	47,400		265,955	0.0%
	Syuppin Co., Ltd.	14,000		247,030	0.0%
	T RAD Co., Ltd.	479,000		1,517,101	0.1%
	T-Gaia Corp.	155,100		2,946,647	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Tachi-S Co., Ltd.	182,840	$	3,349,462	0.1%
	Tachikawa Corp.	53,900		565,743	0.0%
	Taiho Kogyo Co., Ltd.	98,200		1,244,149	0.0%
	Take And Give Needs Co., Ltd.	58,770		403,108	0.0%
#	Takihyo Co., Ltd.	114,000		476,669	0.0%
#	Tama Home Co., Ltd.	95,900		547,408	0.0%
#	Tamron Co., Ltd.	128,500		2,227,547	0.1%
	TBK Co., Ltd.	118,500		536,436	0.0%
	Tear Corp.	31,600		216,826	0.0%
#	Tenpos Busters Co., Ltd.	24,100		409,446	0.0%
	Tigers Polymer Corp.	52,800		348,052	0.0%
	Toa Corp.	132,600		1,278,663	0.0%
#	Toabo Corp.	54,799		270,476	0.0%
#	Toei Animation Co., Ltd.	26,100		1,823,160	0.1%
	Toei Co., Ltd.	449,000		4,264,645	0.1%
	Tohokushinsha Film Corp.	38,900		250,953	0.0%
	Tokai Rika Co., Ltd.	318,800		5,897,939	0.2%
	Token Corp.	47,550		5,853,740	0.2%
*	Tokyo Base Co., Ltd.	19,900		802,681	0.0%
	Tokyo Dome Corp.	577,500		5,232,067	0.2%
#	Tokyo Individualized Educational Institute, Inc.	119,600		1,682,265	0.1%
	Tokyo Radiator Manufacturing Co., Ltd.	19,900		173,151	0.0%
	Tokyotokeiba Co., Ltd.	99,400		2,533,339	0.1%
#	Tokyu Recreation Co., Ltd.	96,000		719,345	0.0%
	Tomy Co., Ltd.	440,593		5,256,007	0.2%
	Topre Corp.	264,300		7,171,078	0.2%
	Toridoll Holdings Corp.	146,300		3,765,938	0.1%
#	Torikizoku Co., Ltd.	43,700		1,027,258	0.0%
	Tosho Co., Ltd.	51,200		2,433,308	0.1%
	Tow Co., Ltd.	99,900		737,609	0.0%
	Toyo Tire & Rubber Co., Ltd.	457,600		9,374,652	0.3%
	TPR Co., Ltd.	131,000		4,244,135	0.1%
	TS Tech Co., Ltd.	291,000		8,504,866	0.2%
	TSI Holdings Co., Ltd.	443,795		3,200,070	0.1%
#	Tsukada Global Holdings, Inc.	109,400		569,462	0.0%
	Tsukamoto Corp. Co., Ltd.	190,000		218,218	0.0%
	Tsutsumi Jewelry Co., Ltd.	50,900		971,391	0.0%
	TV Asahi Holdings Corp.	123,500		2,231,081	0.1%
	Tv Tokyo Holdings Corp.	90,800		1,856,950	0.1%
#*	U-Shin, Ltd.	114,300		770,780	0.0%
#	Umenohana Co., Ltd.	5,000		122,883	0.0%
	Unipres Corp.	230,700		5,151,481	0.2%
	United Arrows, Ltd.	157,600		5,119,679	0.2%
*	Unitika, Ltd.	3,992,000		2,947,622	0.1%
	Universal Entertainment Corp.	5,000		153,035	0.0%
	ValueCommerce Co., Ltd.	105,300		658,355	0.0%
	Vector, Inc.	166,500		2,829,408	0.1%
#	VIA Holdings, Inc.	120,200		1,044,038	0.0%
#	Village Vanguard Co., Ltd.	32,100		293,105	0.0%
	VT Holdings Co., Ltd.	540,600		2,671,520	0.1%
	Wacoal Holdings Corp.	676,000		9,154,089	0.3%
#	WATAMI Co., Ltd.	141,100		1,686,149	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Watts Co., Ltd.	20,000	$	232,561	0.0%
	Workman Co., Ltd.	2,600		75,777	0.0%
	Wowow, Inc.	49,200		1,334,778	0.0%
	Xebio Holdings Co., Ltd.	167,200		2,956,067	0.1%
	Yachiyo Industry Co., Ltd.	32,800		326,080	0.0%
	Yamato International, Inc.	23,200		88,486	0.0%
#	Yasunaga Corp.	39,500		424,041	0.0%
	Yellow Hat, Ltd.	92,700		2,212,966	0.1%
	Yomiuri Land Co., Ltd.	248,000		1,176,929	0.0%
	Yondoshi Holdings, Inc.	87,720		2,188,245	0.1%
	Yorozu Corp.	121,000		1,882,576	0.1%
#	Yoshinoya Holdings Co., Ltd.	54,500		908,653	0.0%
#	Yume No Machi Souzou Iinkai Co., Ltd.	130,600		1,537,670	0.1%
	Yutaka Giken Co., Ltd.	3,100		68,877	0.0%
	Zenrin Co., Ltd.	161,500		4,684,666	0.1%
#	Zojirushi Corp.	232,300		2,651,886	0.1%
Total Consumer Discretionary				690,162,255	19.1%
Consumer Staples — (7.6%)
#	Aeon Hokkaido Corp.	273,900		1,478,674	0.0%
	Ahjikan Co., Ltd.	2,500		27,594	0.0%
	Ain Holdings, Inc.	117,500		8,503,387	0.2%
	Albis Co., Ltd.	31,400		1,434,461	0.0%
	Arcs Co., Ltd.	247,700		5,363,900	0.2%
#	Ariake Japan Co., Ltd.	122,300		8,522,656	0.2%
	Artnature, Inc.	120,700		778,645	0.0%
	Axial Retailing, Inc.	90,500		3,459,309	0.1%
	Belc Co., Ltd.	65,300		3,256,404	0.1%
	Bourbon Corp.	13,200		311,302	0.0%
	C'BON COSMETICS Co., Ltd.	4,200		92,274	0.0%
	Cawachi, Ltd.	94,700		2,293,237	0.1%
	Chubu Shiryo Co., Ltd.	121,500		1,602,528	0.0%
#	Chuo Gyorui Co., Ltd.	93,000		239,900	0.0%
	Ci:z Holdings Co., Ltd.	164,800		6,229,233	0.2%
	Cocokara fine, Inc.	113,160		5,597,933	0.2%
	Cota Co., Ltd.	24,650		273,083	0.0%
	Create SD Holdings Co., Ltd.	164,400		3,806,733	0.1%
#	Daikokutenbussan Co., Ltd.	39,900		2,017,143	0.1%
	Delica Foods Co., Ltd.	9,900		158,412	0.0%
	DyDo Group Holdings, Inc.	55,200		2,779,638	0.1%
#	Earth Chemical Co., Ltd.	59,100		3,045,238	0.1%
	Ebara Foods Industry, Inc.	5,900		110,665	0.0%
	Eco's Co., Ltd.	40,500		438,188	0.0%
	Fancl Corp.	95,300		1,751,908	0.1%
	Feed One Co., Ltd.	836,040		1,704,303	0.1%
*	First Baking Co., Ltd.	18,300		198,457	0.0%
	Fuji Oil Holdings, Inc.	362,600		8,387,707	0.2%
	Fujicco Co., Ltd.	108,700		2,487,758	0.1%
	G-7 Holdings, Inc.	33,100		637,791	0.0%
#	Genky Stores, Inc.	51,000		1,363,723	0.0%
	HABA Laboratories, Inc.	9,500		311,464	0.0%
	Hagoromo Foods Corp.	39,000		459,804	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
	Halows Co., Ltd.	32,600	$	684,272	0.0%
#	Havix Corp.	8,800		79,845	0.0%
	Hayashikane Sangyo Co., Ltd.	24,200		182,415	0.0%
	Heiwado Co., Ltd.	182,000		3,899,135	0.1%
#	Hokkaido Coca-Cola Bottling Co., Ltd.	90,000		562,581	0.0%
	Hokuto Corp.	165,100		2,905,212	0.1%
	House Foods Group, Inc.	99,700		2,501,164	0.1%
	Ichimasa Kamaboko Co., Ltd.	17,500		209,688	0.0%
#	Imuraya Group Co., Ltd.	11,100		228,477	0.0%
	Inageya Co., Ltd.	177,800		2,987,824	0.1%
	Itochu-Shokuhin Co., Ltd.	28,800		1,212,621	0.0%
#	Ivy Cosmetics Corp.	11,700		810,875	0.0%
	Iwatsuka Confectionery Co., Ltd.	2,600		104,308	0.0%
	J-Oil Mills, Inc.	66,600		2,368,700	0.1%
	Japan Meat Co., Ltd.	5,100		83,994	0.0%
	Kadoya Sesame Mills, Inc.	1,600		72,518	0.0%
	Kakiyasu Honten Co., Ltd.	40,900		706,776	0.0%
	Kameda Seika Co., Ltd.	72,000		3,517,793	0.1%
	Kaneko Seeds Co., Ltd.	30,600		395,850	0.0%
	Kanemi Co., Ltd.	500		15,161	0.0%
	Kato Sangyo Co., Ltd.	121,700		3,272,917	0.1%
#	Kenko Mayonnaise Co., Ltd.	84,500		2,436,709	0.1%
	Key Coffee, Inc.	109,700		2,146,324	0.1%
	Kirindo Holdings Co., Ltd.	29,300		252,627	0.0%
	Kitanotatsujin Corp.	31,900		230,914	0.0%
	Kobe Bussan Co., Ltd.	78,000		3,698,259	0.1%
#	Kotobuki Spirits Co., Ltd.	120,600		3,944,444	0.1%
#	Kusuri no Aoki Holdings Co., Ltd.	93,900		4,919,679	0.1%
#	Kyokuyo Co., Ltd.	60,999		1,677,275	0.1%
	Lacto Japan Co., Ltd.	8,900		285,009	0.0%
	Life Corp.	165,100		4,643,467	0.1%
	Mandom Corp.	104,400		5,664,020	0.2%
	Marudai Food Co., Ltd.	637,000		2,980,865	0.1%
	Maruha Nichiro Corp.	250,307		6,616,349	0.2%
#	Maxvalu Nishinihon Co., Ltd.	9,200		135,788	0.0%
	Maxvalu Tokai Co., Ltd.	49,300		871,629	0.0%
#	Medical System Network Co., Ltd.	150,000		684,070	0.0%
	Megmilk Snow Brand Co., Ltd.	274,000		7,633,683	0.2%
	Meito Sangyo Co., Ltd.	52,200		664,941	0.0%
	Milbon Co., Ltd.	73,076		4,108,743	0.1%
	Ministop Co., Ltd.	95,600		2,003,208	0.1%
	Mitsubishi Shokuhin Co., Ltd.	84,500		2,429,009	0.1%
	Mitsui Sugar Co., Ltd.	112,770		3,267,072	0.1%
	Miyoshi Oil & Fat Co., Ltd.	37,900		484,122	0.0%
	Morinaga & Co., Ltd.	39,900		2,262,299	0.1%
	Morinaga Milk Industry Co., Ltd.	1,164,000		8,849,777	0.2%
	Morishita Jintan Co., Ltd.	2,000		10,579	0.0%
	Morozoff, Ltd.	197,000		1,116,395	0.0%
	Nagatanien Holdings Co., Ltd.	148,000		1,869,853	0.1%
	Nakamuraya Co., Ltd.	19,400		878,785	0.0%
	Natori Co., Ltd.	57,500		1,088,515	0.0%
	Nichimo Co., Ltd.	170,000		267,824	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
	Nihon Chouzai Co., Ltd.	35,060	$	1,112,397	0.0%
	Niitaka Co., Ltd.	2,060		32,293	0.0%
	Nippon Beet Sugar Manufacturing Co., Ltd.	67,700		1,297,889	0.0%
	Nippon Flour Mills Co., Ltd.	361,000		5,792,540	0.2%
	Nippon Suisan Kaisha, Ltd.	1,669,700		9,785,030	0.3%
	Nisshin Oillio Group, Ltd. (The)	812,000		4,762,563	0.1%
	Nissin Sugar Co., Ltd.	71,400		1,195,681	0.0%
	Nitto Fuji Flour Milling Co., Ltd.	6,400		224,073	0.0%
	Noevir Holdings Co., Ltd.	71,300		3,635,043	0.1%
	Oenon Holdings, Inc.	316,000		791,109	0.0%
	OIE Sangyo Co., Ltd.	20,900		228,197	0.0%
	Okuwa Co., Ltd.	162,000		1,866,592	0.1%
	Olympic Group Corp.	63,100		346,381	0.0%
#	OUG Holdings, Inc.	34,000		79,574	0.0%
	Prima Meat Packers, Ltd.	956,000		5,616,164	0.2%
	Qol Co., Ltd.	100,700		1,511,173	0.0%
	Retail Partners Co., Ltd.	37,200		389,234	0.0%
	Riken Vitamin Co., Ltd.	74,100		2,901,615	0.1%
	Rock Field Co., Ltd.	141,900		2,438,973	0.1%
	Rokko Butter Co., Ltd.	90,400		2,137,798	0.1%
#	S Foods, Inc.	78,162		2,876,351	0.1%
	S&B Foods, Inc.	3,899		240,375	0.0%
#	Sagami Rubber Industries Co., Ltd.	47,000		612,284	0.0%
#	Sakata Seed Corp.	142,600		4,435,505	0.1%
	San-A Co., Ltd.	105,200		4,653,211	0.1%
	Sapporo Holdings, Ltd.	255,700		7,050,065	0.2%
	Shoei Foods Corp.	75,600		2,232,027	0.1%
	Showa Sangyo Co., Ltd.	613,000		3,373,197	0.1%
	Sogo Medical Co., Ltd.	55,800		2,407,075	0.1%
	ST Corp.	81,200		1,905,198	0.1%
#	Starzen Co., Ltd.	55,800		2,441,110	0.1%
	Takara Holdings, Inc.	980,300		10,228,203	0.3%
	Tobu Store Co., Ltd.	19,000		522,213	0.0%
	Toho Co., Ltd.	44,100		1,199,521	0.0%
	Tohto Suisan Co., Ltd.	17,299		287,631	0.0%
	Torigoe Co., Ltd. (The)	82,000		587,664	0.0%
	Toyo Sugar Refining Co., Ltd.	157,000		163,610	0.0%
#	Transaction Co., Ltd.	56,200		654,314	0.0%
	United Super Markets Holdings, Inc.	320,200		3,386,873	0.1%
	Valor Holdings Co., Ltd.	220,500		5,011,829	0.1%
	Warabeya Nichiyo Holdings Co., Ltd.	90,060		2,486,087	0.1%
	Watahan & Co., Ltd.	32,000		660,449	0.0%
#	YA-MAN, Ltd.	16,200		1,324,607	0.0%
#	Yaizu Suisankagaku Industry Co., Ltd.	47,300		508,580	0.0%
#	Yakuodo Co., Ltd.	62,300		1,826,871	0.1%
	Yamatane Corp.	56,700		829,215	0.0%
#	Yamaya Corp.	25,600		360,368	0.0%
	Yamazawa Co., Ltd.	2,100		33,464	0.0%
	Yaoko Co., Ltd.	132,100		5,659,842	0.2%
#	Yokohama Reito Co., Ltd.	291,700		2,753,114	0.1%
	Yomeishu Seizo Co., Ltd.	49,800		909,380	0.0%
	Yuasa Funashoku Co., Ltd.	125,000		340,291	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
	Yutaka Foods Corp.	6,000	$	101,115	0.0%
Total Consumer Staples				302,253,769	8.4%
Energy — (0.9%)
	BP Castrol K.K.	57,400		957,902	0.0%
	Cosmo Energy Holdings Co., Ltd.	363,000		5,728,620	0.2%
	Fuji Kosan Co., Ltd.	33,100		147,561	0.0%
	Fuji Oil Co., Ltd.	284,800		861,121	0.0%
	Itochu Enex Co., Ltd.	302,200		2,679,547	0.1%
#*	Japan Drilling Co., Ltd.	41,100		822,594	0.0%
	Japan Oil Transportation Co., Ltd.	9,300		221,238	0.0%
	Japan Petroleum Exploration Co., Ltd.	193,000		4,032,152	0.1%
	Mitsuuroko Group Holdings Co., Ltd.	181,700		1,167,677	0.0%
	Modec, Inc.	114,600		2,554,024	0.1%
	Nippon Coke & Engineering Co., Ltd.	1,272,800		1,110,627	0.0%
	Nippon Gas Co., Ltd.	207,700		6,739,226	0.2%
	Sala Corp.	219,300		1,354,514	0.0%
	San-Ai Oil Co., Ltd.	327,000		3,349,314	0.1%
	Shinko Plantech Co., Ltd.	241,700		1,871,619	0.1%
	Sinanen Holdings Co., Ltd.	52,000		1,060,602	0.0%
	Toa Oil Co., Ltd.	415,000		491,203	0.0%
	Toyo Kanetsu K.K.	568,000		1,563,092	0.1%
Total Energy				36,712,633	1.0%
Financials — (7.8%)
	77 Bank, Ltd. (The)	1,749,760		8,637,314	0.2%
	Accretive Co., Ltd.	57,800		210,245	0.0%
	Advance Create Co., Ltd.	7,200		123,271	0.0%
	Aichi Bank, Ltd. (The)	51,700		2,918,831	0.1%
	Aizawa Securities Co., Ltd.	165,000		1,009,865	0.0%
	Akita Bank, Ltd. (The)	1,079,400		3,197,305	0.1%
#	Anicom Holdings, Inc.	92,100		2,021,199	0.1%
	Aomori Bank, Ltd. (The)	1,186,000		4,209,990	0.1%
	Asax Co., Ltd.	1,700		25,533	0.0%
	Awa Bank, Ltd. (The)	1,178,000		8,028,497	0.2%
	Bank of Iwate, Ltd. (The)	103,400		4,128,109	0.1%
	Bank of Kochi, Ltd. (The)	301,000		340,825	0.0%
#	Bank of Nagoya, Ltd. (The)	102,430		3,875,240	0.1%
	Bank of Okinawa, Ltd. (The)	132,960		5,405,609	0.2%
	Bank of Saga, Ltd. (The)	900,000		2,087,303	0.1%
	Bank of the Ryukyus, Ltd.	227,380		3,339,132	0.1%
	Bank of Toyama, Ltd. (The)	1,400		52,334	0.0%
	Chiba Kogyo Bank, Ltd. (The)	285,800		1,506,251	0.0%
#	Chukyo Bank, Ltd. (The)	70,000		1,428,714	0.0%
#	Daisan Bank, Ltd. (The)	87,700		1,340,108	0.0%
	Daishi Bank, Ltd. (The)	2,071,000		9,563,577	0.3%
	Daito Bank, Ltd. (The)	873,000		1,267,645	0.0%
#	DSB Co., Ltd.	56,500		321,650	0.0%
#	eGuarantee, Inc.	43,100		1,015,282	0.0%
#	Ehime Bank, Ltd. (The)	190,600		2,403,022	0.1%
	Eighteenth Bank, Ltd. (The)	1,048,000		3,005,482	0.1%
	FIDEA Holdings Co., Ltd.	1,027,200		1,714,236	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Financial Products Group Co., Ltd.	445,500	$	4,255,953	0.1%
	First Bank of Toyama, Ltd. (The)	36,200		166,642	0.0%
	Fukui Bank, Ltd. (The)	1,337,000		3,352,393	0.1%
	Fukushima Bank, Ltd. (The)	1,421,000		1,100,893	0.0%
	Fuyo General Lease Co., Ltd.	98,800		5,652,790	0.2%
#	GCA Corp.	119,400		1,067,259	0.0%
	GMO Click Holdings, Inc.	53,200		375,029	0.0%
	Hokkoku Bank, Ltd. (The)	1,742,000		6,699,777	0.2%
	Hokuetsu Bank, Ltd. (The)	130,000		3,095,431	0.1%
	Hokuhoku Financial Group, Inc.	374,900		5,996,807	0.2%
	Hyakugo Bank, Ltd. (The)	1,614,609		6,585,747	0.2%
	Hyakujushi Bank, Ltd. (The)	1,584,000		5,245,887	0.2%
	IBJ Leasing Co., Ltd.	116,300		2,799,042	0.1%
	Ichiyoshi Securities Co., Ltd.	232,000		1,954,946	0.1%
	IwaiCosmo Holdings, Inc.	106,900		1,182,676	0.0%
#	Iyo Bank, Ltd. (The)	419,200		3,482,139	0.1%
#	J Trust Co., Ltd.	311,800		2,462,636	0.1%
	Jaccs Co., Ltd.	661,000		3,227,654	0.1%
	Jafco Co., Ltd.	218,500		8,835,305	0.3%
*	Japan Asia Investment Co., Ltd.	85,800		329,660	0.0%
	Japan Investment Adviser Co., Ltd.	9,800		395,951	0.0%
	Japan Securities Finance Co., Ltd.	489,200		2,538,849	0.1%
	Jimoto Holdings, Inc.	668,300		1,215,618	0.0%
	Juroku Bank, Ltd. (The)	2,085,000		6,588,534	0.2%
	kabu.com Securities Co., Ltd.	1,026,600		3,462,491	0.1%
	Kansai Urban Banking Corp.	149,200		1,788,124	0.1%
	Keiyo Bank, Ltd. (The)	1,576,000		6,843,147	0.2%
	Kita-Nippon Bank, Ltd. (The)	49,506		1,433,799	0.0%
	Kiyo Bank, Ltd. (The)	396,690		6,883,664	0.2%
#	Kosei Securities Co., Ltd. (The)	289,000		415,492	0.0%
#	Kyokuto Securities Co., Ltd.	135,600		1,946,138	0.1%
	Kyushu Financial Group, Inc.	240,420		1,523,430	0.0%
#*	M&A Capital Partners Co., Ltd.	39,400		1,816,474	0.1%
#	Marusan Securities Co., Ltd.	199,100		1,664,507	0.1%
#	Matsui Securities Co., Ltd.	532,400		4,353,157	0.1%
#	Michinoku Bank, Ltd. (The)	859,000		1,415,661	0.0%
	Mie Bank, Ltd. (The)	54,800		1,243,621	0.0%
#	Minato Bank, Ltd. (The)	108,400		2,054,608	0.1%
	Mito Securities Co., Ltd.	356,200		1,006,275	0.0%
	Miyazaki Bank, Ltd. (The)	967,000		3,186,773	0.1%
#	Monex Group, Inc.	1,258,800		3,338,643	0.1%
#	Money Partners Group Co., Ltd.	101,300		457,573	0.0%
	Musashino Bank, Ltd. (The)	206,000		6,342,794	0.2%
#	Nagano Bank, Ltd. (The)	52,599		932,346	0.0%
#	Nanto Bank, Ltd. (The)	121,600		3,470,947	0.1%
	Nishi-Nippon Financial Holdings, Inc.	715,700		7,462,018	0.2%
	North Pacific Bank, Ltd.	2,303,600		8,089,920	0.2%
#	OAK Capital Corp.	296,800		629,345	0.0%
	Ogaki Kyoritsu Bank, Ltd. (The)	2,036,000		5,893,182	0.2%
	Oita Bank, Ltd. (The)	1,014,900		3,915,097	0.1%
	Okasan Securities Group, Inc.	779,000		5,023,151	0.1%
	Pocket Card Co., Ltd.	115,100		767,009	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Ricoh Leasing Co., Ltd.	96,900	$	3,393,448	0.1%
	San-In Godo Bank, Ltd. (The)	957,000		8,084,014	0.2%
#	Sawada Holdings Co., Ltd.	142,000		1,250,163	0.0%
	Senshu Ikeda Holdings, Inc.	1,424,200		6,024,933	0.2%
	Shiga Bank, Ltd. (The)	1,365,000		7,056,920	0.2%
	Shikoku Bank, Ltd. (The)	1,210,000		3,377,356	0.1%
	Shimane Bank, Ltd. (The)	17,700		206,907	0.0%
	Shimizu Bank, Ltd. (The)	49,000		1,592,325	0.0%
#*	Showa Holdings Co., Ltd.	93,300		125,735	0.0%
#	Sparx Group Co., Ltd.	623,300		1,202,076	0.0%
	Taiko Bank, Ltd. (The)	226,000		481,198	0.0%
	Tochigi Bank, Ltd. (The)	705,000		2,996,948	0.1%
	Toho Bank, Ltd. (The)	1,323,200		4,662,651	0.1%
	Tohoku Bank, Ltd. (The)	588,000		795,790	0.0%
	Tokai Tokyo Financial Holdings, Inc.	1,190,900		6,630,865	0.2%
	Tokyo TY Financial Group, Inc.	155,338		4,299,810	0.1%
	Tomato Bank, Ltd.	49,500		692,343	0.0%
	TOMONY Holdings, Inc.	913,950		4,464,044	0.1%
	Tottori Bank, Ltd. (The)	43,500		660,483	0.0%
	Towa Bank, Ltd. (The)	2,066,000		2,322,306	0.1%
	Toyo Securities Co., Ltd.	419,000		955,943	0.0%
	Tsukuba Bank, Ltd.	534,200		1,612,558	0.1%
	Yamagata Bank, Ltd. (The)	854,500		3,832,171	0.1%
	Yamanashi Chuo Bank, Ltd. (The)	976,000		4,129,403	0.1%
Total Financials				309,993,963	8.6%
Health Care — (4.7%)
	Advantage Risk Management Co., Ltd.	17,400		194,559	0.0%
	As One Corp.	86,768		4,060,057	0.1%
#	ASKA Pharmaceutical Co., Ltd.	131,300		1,971,955	0.1%
	Biofermin Pharmaceutical Co., Ltd.	16,600		448,926	0.0%
	BML, Inc.	136,600		2,658,084	0.1%
#	CMIC Holdings Co., Ltd.	74,700		1,028,530	0.0%
	Create Medic Co., Ltd.	29,500		256,128	0.0%
#	Daiken Medical Co., Ltd.	110,600		790,425	0.0%
	Daito Pharmaceutical Co., Ltd.	74,580		1,644,704	0.1%
	Dvx, Inc.	23,900		287,220	0.0%
#	Eiken Chemical Co., Ltd.	107,100		3,237,895	0.1%
	Elan Corp.	18,500		434,242	0.0%
	EM Systems Co., Ltd.	57,100		1,321,879	0.0%
	EPS Holdings, Inc.	213,000		3,340,824	0.1%
	Falco Holdings Co., Ltd.	46,700		635,239	0.0%
#	FINDEX, Inc.	110,100		910,108	0.0%
	Fuji Pharma Co., Ltd.	49,800		1,693,813	0.1%
	Fukuda Denshi Co., Ltd.	8,000		577,455	0.0%
	Fuso Pharmaceutical Industries, Ltd.	41,500		1,026,159	0.0%
#	Hogy Medical Co., Ltd.	74,900		4,993,141	0.1%
	Iwaki & Co., Ltd.	160,000		618,726	0.0%
	Japan Lifeline Co., Ltd.	117,800		4,982,615	0.1%
	Japan Medical Dynamic Marketing, Inc.	121,200		1,030,143	0.0%
	Jeol, Ltd.	531,000		2,783,602	0.1%
	JMS Co., Ltd.	167,000		482,969	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Health Care — (Continued)
	Kawasumi Laboratories, Inc.	71,200	$	431,516	0.0%
	Kissei Pharmaceutical Co., Ltd.	163,700		4,445,912	0.1%
	KYORIN Holdings, Inc.	281,400		6,251,941	0.2%
	Linical Co., Ltd.	80,000		1,272,564	0.0%
	Mani, Inc.	139,000		3,639,872	0.1%
#*	Medical Data Vision Co., Ltd.	49,200		1,203,449	0.0%
	Medius Holdings Co., Ltd.	7,500		213,329	0.0%
	Menicon Co., Ltd.	75,200		2,470,568	0.1%
	Mochida Pharmaceutical Co., Ltd.	78,399		5,658,680	0.2%
#	N Field Co., Ltd.	67,900		875,324	0.0%
	Nagaileben Co., Ltd.	51,200		1,191,098	0.0%
	Nakanishi, Inc.	117,700		4,773,799	0.1%
#	ND Software Co., Ltd.	5,200		52,716	0.0%
#	Nichi-iko Pharmaceutical Co., Ltd.	264,250		4,126,158	0.1%
	NichiiGakkan Co., Ltd.	254,700		2,530,587	0.1%
	Nihon Kohden Corp.	323,100		7,479,001	0.2%
	Nikkiso Co., Ltd.	391,100		3,767,190	0.1%
	Nippon Chemiphar Co., Ltd.	17,100		785,506	0.0%
	Nipro Corp.	767,500		10,017,420	0.3%
	Nissui Pharmaceutical Co., Ltd.	74,900		919,776	0.0%
#	Paramount Bed Holdings Co., Ltd.	114,200		4,995,000	0.2%
	Rion Co., Ltd.	49,400		762,217	0.0%
	Rohto Pharmaceutical Co., Ltd.	469,800		9,724,840	0.3%
	Sawai Pharmaceutical Co., Ltd.	193,300		10,856,169	0.3%
#	Seed Co., Ltd.	35,400		799,286	0.0%
*	Shin Nippon Biomedical Laboratories, Ltd.	92,900		587,163	0.0%
	Ship Healthcare Holdings, Inc.	279,700		8,713,224	0.3%
	Shofu, Inc.	41,000		487,896	0.0%
	Software Service, Inc.	18,000		781,248	0.0%
#*	Sosei Group Corp.	103,300		11,363,174	0.3%
	Taiko Pharmaceutical Co., Ltd.	58,800		1,158,868	0.0%
	Techno Medica Co., Ltd.	27,200		473,800	0.0%
#	Toho Holdings Co., Ltd.	321,000		6,331,473	0.2%
	Tokai Corp.	64,500		2,556,193	0.1%
	Torii Pharmaceutical Co., Ltd.	89,700		2,187,920	0.1%
	Towa Pharmaceutical Co., Ltd.	59,100		2,762,265	0.1%
	Tsukui Corp.	353,900		2,077,182	0.1%
	Tsumura & Co.	238,900		9,703,707	0.3%
	Uchiyama Holdings Co., Ltd.	24,200		98,648	0.0%
#	Vital KSK Holdings, Inc.	231,800		1,890,350	0.1%
	Wakamoto Pharmaceutical Co., Ltd.	107,000		270,663	0.0%
	WIN-Partners Co., Ltd.	84,300		971,514	0.0%
	ZERIA Pharmaceutical Co., Ltd.	157,499		2,919,310	0.1%
Total Health Care				185,987,914	5.1%
Industrials — (25.5%)
	NJS Co., Ltd.	32,900		402,064	0.0%
#	A&A Material Corp.	127,000		140,379	0.0%
	Abist Co., Ltd.	16,400		590,076	0.0%
	Advan Co., Ltd.	167,700		1,707,021	0.1%
	Advanex, Inc.	22,099		329,228	0.0%
	Aeon Delight Co., Ltd.	123,400		3,999,073	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Aica Kogyo Co., Ltd.	314,300	$	9,597,241	0.3%
	Aichi Corp.	207,900		1,447,845	0.0%
	Aida Engineering, Ltd.	344,200		3,303,491	0.1%
	AIT Corp.	45,100		417,446	0.0%
#	Ajis Co., Ltd.	27,100		514,375	0.0%
	Alinco, Inc.	76,800		764,975	0.0%
	Alps Logistics Co., Ltd.	98,600		629,920	0.0%
#	Altech Corp.	44,750		1,465,512	0.0%
	Anest Iwata Corp.	190,800		1,751,484	0.1%
#*	Arrk Corp.	466,800		487,186	0.0%
	Asahi Diamond Industrial Co., Ltd.	328,200		2,417,467	0.1%
#	Asahi Kogyosha Co., Ltd.	25,800		689,374	0.0%
	Asanuma Corp.	392,000		1,132,745	0.0%
#	Asukanet Co., Ltd.	61,900		1,013,230	0.0%
	Asunaro Aoki Construction Co., Ltd.	142,800		1,078,034	0.0%
	Bando Chemical Industries, Ltd.	232,200		2,304,567	0.1%
	Bell System24 Holdings, Inc.	202,400		2,078,993	0.1%
	Benefit One, Inc.	101,400		4,056,326	0.1%
	Br Holdings Corp.	113,300		384,536	0.0%
	Bunka Shutter Co., Ltd.	347,700		2,670,806	0.1%
	Canare Electric Co., Ltd.	10,000		219,201	0.0%
	Career Design Center Co., Ltd.	28,800		354,213	0.0%
	Central Glass Co., Ltd.	1,214,000		5,237,178	0.2%
#	Central Security Patrols Co., Ltd.	48,200		867,539	0.0%
	Chilled & Frozen Logistics Holdings Co., Ltd.	29,100		344,556	0.0%
#	Chiyoda Corp.	993,000		5,865,515	0.2%
	Chiyoda Integre Co., Ltd.	74,300		1,475,262	0.0%
	Chudenko Corp.	157,900		4,100,655	0.1%
	Chugai Ro Co., Ltd.	380,000		754,929	0.0%
	Chuo Warehouse Co., Ltd.	900		8,707	0.0%
	CKD Corp.	341,900		5,234,783	0.2%
	Comany, Inc.	3,700		50,045	0.0%
	Cosel Co., Ltd.	120,800		1,489,016	0.1%
	Creek & River Co., Ltd.	66,900		605,359	0.0%
	CTI Engineering Co., Ltd.	72,300		736,880	0.0%
	CTS Co., Ltd.	59,000		661,921	0.0%
	Dai-Dan Co., Ltd.	169,000		1,985,841	0.1%
	Daido Kogyo Co., Ltd.	220,000		604,108	0.0%
#	Daihatsu Diesel Manufacturing Co., Ltd.	86,000		518,937	0.0%
	Daihen Corp.	641,000		5,052,566	0.1%
	Daiho Corp.	536,000		2,551,372	0.1%
	Daiichi Jitsugyo Co., Ltd.	270,000		1,476,136	0.0%
	Daiki Axis Co., Ltd.	15,800		152,852	0.0%
#*	Daikokuya Holdings Co., Ltd.	347,500		281,531	0.0%
	Daiohs Corp.	1,200		13,570	0.0%
	Daiseki Co., Ltd.	216,263		4,811,767	0.1%
#	Daiseki Eco. Solution Co., Ltd.	35,459		413,388	0.0%
	Daisue Construction Co., Ltd.	43,500		397,179	0.0%
	Daiwa Industries, Ltd.	191,100		2,088,628	0.1%
*	Danto Holdings Corp.	65,000		86,097	0.0%
	Denyo Co., Ltd.	91,800		1,597,300	0.1%
#	DMG Mori Co., Ltd.	538,900		8,920,562	0.3%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	DMW Corp.	4,800	$	80,440	0.0%
	Duskin Co., Ltd.	224,100		5,769,314	0.2%
	Ebara Jitsugyo Co., Ltd.	39,300		520,885	0.0%
	EF-ON, Inc.	69,600		621,341	0.0%
	Eidai Co., Ltd.	131,000		593,433	0.0%
	en-japan, Inc.	144,300		3,760,078	0.1%
	Endo Lighting Corp.	64,300		655,745	0.0%
#*	Enshu, Ltd.	197,000		205,173	0.0%
°	Escrow Agent Japan Co., Ltd.	25,800		518,692	0.0%
	F&M Co., Ltd.	25,000		237,378	0.0%
#	Freund Corp.	64,400		816,077	0.0%
	Fudo Tetra Corp.	1,066,900		1,710,457	0.1%
#	Fuji Machine Manufacturing Co., Ltd.	119,900		1,734,302	0.1%
	Fujikura, Ltd.	1,390,000		11,693,413	0.3%
	Fujisash Co., Ltd.	505,600		450,058	0.0%
	Fujitec Co., Ltd.	436,800		5,728,455	0.2%
	Fukuda Corp.	79,000		3,758,393	0.1%
	Fukushima Industries Corp.	86,400		3,326,644	0.1%
#	Fukuyama Transporting Co., Ltd.	774,400		4,920,308	0.1%
	FULLCAST Holdings Co., Ltd.	124,600		1,442,202	0.0%
	Funai Soken Holdings, Inc.	161,760		4,124,350	0.1%
	Furukawa Co., Ltd.	1,923,000		3,353,871	0.1%
	Furukawa Electric Co., Ltd.	98,900		4,409,489	0.1%
	Furusato Industries, Ltd.	55,600		838,130	0.0%
	Futaba Corp.	211,300		3,713,159	0.1%
	Gecoss Corp.	104,400		1,249,496	0.0%
	Giken, Ltd.	70,800		1,894,936	0.1%
	Glory, Ltd.	268,900		8,831,616	0.3%
	GS Yuasa Corp.	2,130,000		9,296,750	0.3%
#	Hamakyorex Co., Ltd.	102,200		2,555,902	0.1%
	Hanwa Co., Ltd.	1,221,000		8,755,469	0.3%
	Hazama Ando Corp.	1,082,400		6,831,310	0.2%
	Helios Techno Holdings Co., Ltd.	85,000		584,094	0.0%
	Hibiya Engineering, Ltd.	122,100		2,089,519	0.1%
	Hirakawa Hewtech Corp.	61,600		805,621	0.0%
	Hirano Tecseed Co., Ltd.	42,400		519,949	0.0%
#	Hirata Corp.	36,100		3,750,656	0.1%
	Hisaka Works, Ltd.	135,700		1,180,226	0.0%
	Hitachi Transport System, Ltd.	247,200		5,829,192	0.2%
	Hitachi Zosen Corp.	991,379		4,895,226	0.1%
	Hito Communications, Inc.	45,300		816,160	0.0%
	Hokuetsu Industries Co., Ltd.	113,700		1,038,923	0.0%
#	Hokuriku Electrical Construction Co., Ltd.	37,700		311,115	0.0%
	Hosokawa Micron Corp.	44,000		1,923,102	0.1%
	Howa Machinery, Ltd.	78,700		546,371	0.0%
#	Ichiken Co., Ltd.	143,000		503,402	0.0%
	Ichinen Holdings Co., Ltd.	118,800		1,288,210	0.0%
	Idec Corp.	183,500		2,389,240	0.1%
	Ihara Science Corp.	6,900		112,652	0.0%
	Iino Kaiun Kaisha, Ltd.	567,500		2,440,083	0.1%
	Inaba Denki Sangyo Co., Ltd.	138,700		5,274,939	0.2%
	Inaba Seisakusho Co., Ltd.	51,100		659,057	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Inabata & Co., Ltd.	296,300	$	3,941,497	0.1%
	Interworks, Inc.	6,800		71,019	0.0%
	Inui Global Logistics Co., Ltd.	75,180		563,406	0.0%
	Iseki & Co., Ltd.	111,000		2,179,268	0.1%
#	Ishii Iron Works Co., Ltd.	11,000		160,939	0.0%
	Itoki Corp.	235,200		2,017,614	0.1%
	Iwaki Co., Ltd.	2,700		56,069	0.0%
	Iwasaki Electric Co., Ltd.	372,000		596,702	0.0%
	Iwatani Corp.	1,162,000		7,218,845	0.2%
	JAC Recruitment Co., Ltd.	93,100		1,407,259	0.0%
#	Jalux, Inc.	39,500		954,671	0.0%
#	Jamco Corp.	68,400		1,508,532	0.1%
	Japan Asia Group, Ltd.	93,500		354,899	0.0%
	Japan Foundation Engineering Co., Ltd.	147,400		475,219	0.0%
	Japan Pulp & Paper Co., Ltd.	593,000		2,241,479	0.1%
	Japan Steel Works, Ltd. (The)	398,400		6,261,807	0.2%
	Japan Transcity Corp.	242,000		980,954	0.0%
	JK Holdings Co., Ltd.	92,440		542,617	0.0%
	Juki Corp.	194,500		2,829,501	0.1%
	Kamei Corp.	148,700		2,026,107	0.1%
	Kanaden Corp.	112,500		1,163,899	0.0%
#	Kanagawa Chuo Kotsu Co., Ltd.	192,000		1,254,260	0.0%
	Kanamoto Co., Ltd.	171,600		5,716,116	0.2%
	Kandenko Co., Ltd.	626,000		6,588,378	0.2%
	Kanematsu Corp.	2,438,625		5,003,936	0.1%
	Katakura Industries Co., Ltd.	138,900		1,646,362	0.1%
	Kato Works Co., Ltd.	62,800		1,768,090	0.1%
	KAWADA TECHNOLOGIES, Inc.	53,700		3,586,728	0.1%
	Kawagishi Bridge Works Co., Ltd.	21,000		167,229	0.0%
	Kawasaki Kinkai Kisen Kaisha, Ltd.	96,000		258,631	0.0%
#*	Kawasaki Kisen Kaisha, Ltd.	2,758,000		6,644,638	0.2%
	Keihin Co., Ltd.	249,000		355,038	0.0%
	KFC, Ltd.	3,400		67,610	0.0%
*	KI Holdings Co., Ltd.	88,000		228,755	0.0%
	Kimura Chemical Plants Co., Ltd.	39,900		131,273	0.0%
	Kimura Unity Co., Ltd.	2,200		22,551	0.0%
	King Jim Co., Ltd.	56,700		486,725	0.0%
#*	Kinki Sharyo Co., Ltd. (The)	18,899		433,801	0.0%
	Kintetsu World Express, Inc.	191,200		3,385,558	0.1%
	Kitagawa Iron Works Co., Ltd.	51,400		1,080,213	0.0%
	Kitano Construction Corp.	259,000		754,132	0.0%
	Kito Corp.	116,900		1,200,922	0.0%
	Kitz Corp.	543,500		5,079,894	0.1%
	Kobelco Eco-Solutions Co., Ltd.	103,000		402,855	0.0%
	Koike Sanso Kogyo Co., Ltd.	145,000		374,892	0.0%
#	Kokusai Co., Ltd.	41,700		350,437	0.0%
	Kokuyo Co., Ltd.	525,125		7,174,357	0.2%
	KOMAIHALTEC, Inc.	25,700		501,023	0.0%
	Komatsu Wall Industry Co., Ltd.	40,000		729,607	0.0%
	Komori Corp.	348,700		4,494,741	0.1%
	Kondotec, Inc.	124,000		1,041,842	0.0%
	Konoike Transport Co., Ltd.	145,700		1,990,265	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#*	Kosaido Co., Ltd.	248,600	$	806,079	0.0%
	KRS Corp.	38,100		876,919	0.0%
	Kumagai Gumi Co., Ltd.	2,175,000		7,003,782	0.2%
	Kuroda Electric Co., Ltd.	219,100		4,302,060	0.1%
	Kyodo Printing Co., Ltd.	506,000		1,722,020	0.1%
	Kyokuto Boeki Kaisha, Ltd.	125,000		299,539	0.0%
	Kyokuto Kaihatsu Kogyo Co., Ltd.	185,700		2,992,943	0.1%
	Kyoritsu Printing Co., Ltd.	132,600		398,950	0.0%
	Kyowa Exeo Corp.	481,800		8,123,572	0.2%
	Kyudenko Corp.	241,300		8,649,396	0.2%
	Like Co., Ltd.	25,500		722,905	0.0%
#	Link And Motivation, Inc.	251,400		1,806,154	0.1%
	Lonseal Corp.	13,900		331,544	0.0%
#	Luckland Co., Ltd.	14,800		272,184	0.0%
	Maeda Corp.	821,000		9,059,800	0.3%
	Maeda Kosen Co., Ltd.	115,000		1,740,623	0.1%
	Maeda Road Construction Co., Ltd.	387,000		7,726,421	0.2%
	Maezawa Industries, Inc.	35,700		103,449	0.0%
	Maezawa Kasei Industries Co., Ltd.	55,100		616,469	0.0%
	Maezawa Kyuso Industries Co., Ltd.	50,900		694,193	0.0%
	Makino Milling Machine Co., Ltd.	655,000		5,442,035	0.2%
#	Marubeni Construction Material Lease Co., Ltd.	75,000		145,584	0.0%
	Marufuji Sheet Piling Co., Ltd.	58,000		137,795	0.0%
	Maruka Machinery Co., Ltd.	32,200		537,201	0.0%
#	Maruwa Unyu Kikan Co., Ltd.	34,300		1,281,236	0.0%
	Maruyama Manufacturing Co., Inc.	23,000		361,376	0.0%
	Maruzen Co., Ltd.	46,000		603,885	0.0%
	Maruzen Showa Unyu Co., Ltd.	315,000		1,322,578	0.0%
	Matsuda Sangyo Co., Ltd.	85,882		1,134,452	0.0%
	Matsui Construction Co., Ltd.	135,300		1,076,469	0.0%
	Max Co., Ltd.	191,000		2,758,771	0.1%
	Meidensha Corp.	1,198,050		4,119,912	0.1%
	Meiji Electric Industries Co., Ltd.	16,000		192,255	0.0%
	Meiji Shipping Co., Ltd.	111,000		418,693	0.0%
	Meisei Industrial Co., Ltd.	251,000		1,524,244	0.1%
	Meitec Corp.	181,300		7,732,645	0.2%
#	Meiwa Corp.	158,000		628,206	0.0%
	Mesco, Inc.	22,000		241,350	0.0%
	METAWATER Co., Ltd.	79,600		2,182,953	0.1%
#	Mie Kotsu Group Holdings, Inc.	249,200		869,809	0.0%
	Mirait Holdings Corp.	374,085		4,207,639	0.1%
	Mitani Corp.	68,200		2,574,806	0.1%
	Mitsubishi Kakoki Kaisha, Ltd.	320,000		715,792	0.0%
#	Mitsubishi Nichiyu Forklift Co., Ltd.	194,000		1,348,979	0.0%
	Mitsubishi Pencil Co., Ltd.	200,600		5,661,662	0.2%
	Mitsuboshi Belting, Ltd.	328,000		3,641,739	0.1%
	Mitsui Engineering & Shipbuilding Co., Ltd.	5,109,000		7,320,461	0.2%
	Mitsui Matsushima Co., Ltd.	84,700		1,052,149	0.0%
	Mitsui-Soko Holdings Co., Ltd.	626,000		1,712,485	0.1%
#	Mitsumura Printing Co., Ltd.	93,000		211,053	0.0%
#	Miyaji Engineering Group, Inc.	332,175		710,180	0.0%
	Morita Holdings Corp.	227,700		3,577,255	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#	NAC Co., Ltd.	61,700	$	550,083	0.0%
#	Nachi-Fujikoshi Corp.	1,045,000		5,960,364	0.2%
	Nagase & Co., Ltd.	503,500		7,681,692	0.2%
	Naigai Trans Line, Ltd.	18,500		210,967	0.0%
	Nakabayashi Co., Ltd.	211,000		597,292	0.0%
	Nakamoto Packs Co., Ltd.	1,900		51,058	0.0%
	Nakano Corp.	74,300		407,843	0.0%
	Namura Shipbuilding Co., Ltd.	314,028		1,856,806	0.1%
	Narasaki Sangyo Co., Ltd.	109,000		284,689	0.0%
	NDS Co., Ltd.	25,200		692,076	0.0%
#	NEC Capital Solutions, Ltd.	51,900		854,687	0.0%
	Nichias Corp.	587,000		6,790,267	0.2%
	Nichiban Co., Ltd.	141,000		1,198,108	0.0%
	Nichiden Corp.	27,400		955,056	0.0%
	Nichiha Corp.	178,680		6,305,114	0.2%
	Nichireki Co., Ltd.	151,800		1,795,942	0.1%
	Nihon Dengi Co., Ltd.	20,400		492,773	0.0%
	Nihon Flush Co., Ltd.	36,800		498,876	0.0%
#	Nihon Trim Co., Ltd.	30,700		1,253,002	0.0%
	Nikkato Corp.	700		3,750	0.0%
	Nikko Co., Ltd.	36,700		728,537	0.0%
	Nikkon Holdings Co., Ltd.	356,800		8,274,808	0.2%
	Nippi, Inc.	33,000		230,606	0.0%
	Nippo Corp.	227,000		4,568,492	0.1%
	Nippon Air Conditioning Services Co., Ltd.	87,100		523,649	0.0%
	Nippon Aqua Co., Ltd.	68,200		338,549	0.0%
#	Nippon Carbon Co., Ltd.	66,500		2,068,296	0.1%
	Nippon Concept Corp.	13,200		154,023	0.0%
	Nippon Densetsu Kogyo Co., Ltd.	227,300		4,682,262	0.1%
	Nippon Dry-Chemical Co., Ltd.	300		6,367	0.0%
	Nippon Filcon Co., Ltd.	70,900		386,863	0.0%
	Nippon Hume Corp.	129,400		787,418	0.0%
	Nippon Kanzai Co., Ltd.	101,100		1,791,203	0.1%
#	Nippon Koei Co., Ltd.	86,600		2,461,705	0.1%
#	Nippon Parking Development Co., Ltd.	1,224,400		1,778,914	0.1%
	Nippon Rietec Co., Ltd.	8,300		92,444	0.0%
	Nippon Road Co., Ltd. (The)	437,000		2,304,298	0.1%
#	Nippon Seisen Co., Ltd.	100,000		633,742	0.0%
#*	Nippon Sharyo, Ltd.	422,000		1,079,037	0.0%
#*	Nippon Sheet Glass Co., Ltd.	620,800		5,146,342	0.2%
	Nippon Steel & Sumikin Bussan Corp.	95,560		4,590,023	0.1%
	Nippon Thompson Co., Ltd.	410,000		2,175,542	0.1%
#	Nippon Tungsten Co., Ltd.	62,000		115,358	0.0%
	Nishi-Nippon Railroad Co., Ltd.	1,942,000		8,746,817	0.3%
	Nishimatsu Construction Co., Ltd.	1,794,000		9,527,259	0.3%
	Nishio Rent All Co., Ltd.	96,100		3,071,541	0.1%
#	Nissei ASB Machine Co., Ltd.	52,300		1,822,076	0.1%
	Nissei Corp.	37,900		342,118	0.0%
	Nissei Plastic Industrial Co., Ltd.	184,500		1,750,371	0.1%
	Nisshinbo Holdings, Inc.	870,500		8,857,208	0.3%
	Nissin Corp.	435,000		2,109,695	0.1%
	Nissin Electric Co., Ltd.	388,100		4,124,077	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Nitta Corp.	105,000	$	3,275,623	0.1%
	Nitto Boseki Co., Ltd.	934,000		4,497,407	0.1%
	Nitto Kogyo Corp.	166,300		2,631,086	0.1%
	Nitto Kohki Co., Ltd.	68,500		1,573,279	0.1%
	Nitto Seiko Co., Ltd.	157,400		647,446	0.0%
	Nittoc Construction Co., Ltd.	173,600		892,518	0.0%
	Nittoku Engineering Co., Ltd.	81,900		2,275,677	0.1%
	Noda Corp.	153,600		1,383,089	0.0%
	Nomura Co., Ltd.	220,200		5,028,948	0.1%
	Noritake Co., Ltd.	69,200		2,370,444	0.1%
#	Noritz Corp.	172,400		3,427,200	0.1%
#	NS Tool Co., Ltd.	25,600		427,405	0.0%
	NS United Kaiun Kaisha, Ltd.	656,000		1,324,270	0.0%
	NTN Corp.	821,000		3,820,420	0.1%
	Obara Group, Inc.	79,200		4,324,460	0.1%
#	Odelic Co., Ltd.	21,400		893,184	0.0%
	Ohba Co., Ltd.	51,000		233,762	0.0%
	Ohmoto Gumi Co., Ltd.	11,000		88,144	0.0%
	Oiles Corp.	151,350		2,681,194	0.1%
	Okabe Co., Ltd.	242,100		2,233,175	0.1%
	Okada Aiyon Corp.	22,000		257,351	0.0%
#	Okamoto Machine Tool Works, Ltd.	254,000		555,180	0.0%
	Okamura Corp.	398,100		3,785,648	0.1%
#	OKK Corp.	425,000		481,724	0.0%
	OKUMA Corp.	849,000		8,123,501	0.2%
	Okumura Corp.	999,400		6,735,390	0.2%
#	Onoken Co., Ltd.	100,300		1,554,801	0.1%
	Organo Corp.	228,000		1,119,687	0.0%
	Origin Electric Co., Ltd.	173,000		477,824	0.0%
#	OSG Corp.	452,700		9,243,089	0.3%
	OSJB Holdings Corp.	840,700		2,196,272	0.1%
#	Outsourcing, Inc.	90,800		4,432,340	0.1%
	Oyo Corp.	119,300		1,678,773	0.1%
#	Paraca, Inc.	18,600		340,532	0.0%
	Parker Corp.	12,000		60,149	0.0%
#	Pasco Corp.	137,000		445,257	0.0%
#	Pasona Group, Inc.	126,800		1,171,591	0.0%
	Pegasus Sewing Machine Manufacturing Co., Ltd.	126,500		814,492	0.0%
	Penta-Ocean Construction Co., Ltd.	1,890,000		10,771,324	0.3%
	Pilot Corp.	188,800		8,040,850	0.2%
	Prestige International, Inc.	289,800		3,131,103	0.1%
	Pronexus, Inc.	126,400		1,476,314	0.0%
#	PS Mitsubishi Construction Co., Ltd.	165,800		727,826	0.0%
	Punch Industry Co., Ltd.	35,700		386,168	0.0%
	Quick Co., Ltd.	54,200		726,497	0.0%
	Raito Kogyo Co., Ltd.	313,100		3,316,205	0.1%
	Rasa Corp.	20,200		176,670	0.0%
	Relia, Inc.	285,100		3,105,072	0.1%
	Rheon Automatic Machinery Co., Ltd.	110,500		1,238,120	0.0%
	Rix Corp.	1,700		28,366	0.0%
	Ryobi, Ltd.	820,200		3,345,889	0.1%
	Sakai Heavy Industries, Ltd.	237,000		667,664	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Sakai Moving Service Co., Ltd.	65,000	$	2,514,691	0.1%
*	Sanix, Inc.	87,400		170,693	0.0%
	Sanki Engineering Co., Ltd.	297,600		3,347,175	0.1%
#	Sanko Metal Industrial Co., Ltd.	13,600		402,135	0.0%
#	Sankyo Tateyama, Inc.	166,200		2,539,685	0.1%
	Sankyu, Inc.	1,540,000		10,075,002	0.3%
#	Sanoyas Holdings Corp.	141,400		321,791	0.0%
	Sansei Technologies, Inc.	33,900		267,542	0.0%
	Sanwa Holdings Corp.	923,800		9,756,170	0.3%
	Sanyo Denki Co., Ltd.	284,000		2,918,510	0.1%
#	Sanyo Engineering & Construction, Inc.	48,000		310,254	0.0%
	Sanyo Industries, Ltd.	99,000		192,964	0.0%
	Sanyo Trading Co., Ltd.	48,900		1,143,691	0.0%
	Sata Construction Co., Ltd.	85,399		330,872	0.0%
	Sato Holdings Corp.	158,700		3,983,736	0.1%
	Sato Shoji Corp.	66,800		530,634	0.0%
	Sawafuji Electric Co., Ltd.	27,000		138,973	0.0%
	SBS Holdings, Inc.	114,100		907,032	0.0%
#	Secom Joshinetsu Co., Ltd.	32,900		1,025,329	0.0%
	Seibu Electric Industry Co., Ltd.	20,500		426,749	0.0%
	Seika Corp.	313,000		1,110,520	0.0%
	Seikitokyu Kogyo Co., Ltd.	199,000		1,034,304	0.0%
	Seino Holdings Co., Ltd.	258,600		3,447,508	0.1%
	Sekisui Jushi Corp.	180,900		3,325,720	0.1%
	Senko Group Holdings Co., Ltd.	635,400		4,137,516	0.1%
	Senshu Electric Co., Ltd.	36,600		694,975	0.0%
	Shibusawa Warehouse Co., Ltd. (The)	267,000		862,438	0.0%
	Shibuya Corp.	108,000		3,258,357	0.1%
#	Shima Seiki Manufacturing, Ltd.	161,400		7,534,169	0.2%
	Shin Nippon Air Technologies Co., Ltd.	86,280		1,218,182	0.0%
#	Shin-Keisei Electric Railway Co., Ltd.	181,000		674,742	0.0%
	Shinmaywa Industries, Ltd.	550,000		4,649,303	0.1%
	Shinnihon Corp.	186,700		1,519,905	0.1%
	Shinsho Corp.	35,500		816,649	0.0%
	Shinwa Co., Ltd.	40,300		771,219	0.0%
*	Shoko Co., Ltd.	212,000		184,962	0.0%
	Showa Aircraft Industry Co., Ltd.	18,437		193,658	0.0%
#	SIGMAXYZ, Inc.	56,700		478,189	0.0%
	Sinfonia Technology Co., Ltd.	806,000		3,332,145	0.1%
	Sinko Industries, Ltd.	119,600		1,920,089	0.1%
	Sintokogio, Ltd.	275,100		2,863,583	0.1%
	Soda Nikka Co., Ltd.	94,000		440,265	0.0%
#	Sodick Co., Ltd.	292,200		3,406,655	0.1%
	Space Co., Ltd.	71,520		945,176	0.0%
	Srg Takamiya Co., Ltd.	121,100		610,166	0.0%
	Star Micronics Co., Ltd.	196,000		3,185,035	0.1%
#	Subaru Enterprise Co., Ltd.	58,000		315,225	0.0%
	Sugimoto & Co., Ltd.	36,500		503,443	0.0%
	Sumitomo Densetsu Co., Ltd.	104,400		1,512,115	0.1%
	Sumitomo Mitsui Construction Co., Ltd.	5,477,700		5,859,613	0.2%
	Sumitomo Precision Products Co., Ltd.	189,000		591,486	0.0%
	Sumitomo Warehouse Co., Ltd. (The)	819,000		5,204,213	0.2%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
*	SWCC Showa Holdings Co., Ltd.	1,562,000	$	1,154,912	0.0%
	Tadano, Ltd.	591,700		7,169,033	0.2%
	Taihei Dengyo Kaisha, Ltd.	207,000		2,391,648	0.1%
#	Taiheiyo Kouhatsu, Inc.	407,000		355,226	0.0%
	Taikisha, Ltd.	147,000		3,884,640	0.1%
	Takamatsu Construction Group Co., Ltd.	80,000		1,949,458	0.1%
	Takamatsu Machinery Co., Ltd.	1,600		12,815	0.0%
#	Takano Co., Ltd.	52,300		530,272	0.0%
	Takaoka Toko Co., Ltd.	63,320		919,568	0.0%
#	Takara Printing Co., Ltd.	52,755		761,306	0.0%
	Takara Standard Co., Ltd.	253,500		4,149,264	0.1%
	Takasago Thermal Engineering Co., Ltd.	355,200		5,787,643	0.2%
	Takashima & Co., Ltd.	225,000		417,008	0.0%
	Takeei Corp.	138,100		1,332,791	0.0%
	Takeuchi Manufacturing Co., Ltd.	222,800		4,117,055	0.1%
	Takigami Steel Construction Co., Ltd. (The)	53,000		225,592	0.0%
	Takisawa Machine Tool Co., Ltd.	368,000		581,010	0.0%
	Takuma Co., Ltd.	438,000		4,409,348	0.1%
#	Tanseisha Co., Ltd.	219,949		2,344,622	0.1%
	Tatsuta Electric Wire and Cable Co., Ltd.	257,400		1,565,423	0.1%
	TECHNO ASSOCIE Co., Ltd.	56,800		576,467	0.0%
	Techno Ryowa, Ltd.	69,390		488,741	0.0%
	TechnoPro Holdings, Inc.	167,600		6,746,190	0.2%
	Teikoku Electric Manufacturing Co., Ltd.	108,800		1,116,586	0.0%
	Teikoku Sen-I Co., Ltd.	115,900		1,929,985	0.1%
#	Tekken Corp.	669,000		1,992,495	0.1%
	Teraoka Seisakusho Co., Ltd.	53,600		193,762	0.0%
	Terasaki Electric Co., Ltd.	9,300		102,371	0.0%
#*	Toa Corp.	110,300		1,743,454	0.1%
	TOA ROAD Corp.	266,000		1,114,848	0.0%
	Tobishima Corp.	1,186,500		1,778,963	0.1%
	Tocalo Co., Ltd.	91,900		3,030,637	0.1%
	Toda Corp.	1,230,000		7,682,845	0.2%
	Toenec Corp.	246,000		1,529,286	0.1%
	Togami Electric Manufacturing Co., Ltd.	49,000		211,802	0.0%
#	TOKAI Holdings Corp.	528,400		3,948,783	0.1%
	Tokai Lease Co., Ltd.	162,000		302,675	0.0%
	Tokyo Energy & Systems, Inc.	139,000		1,250,943	0.0%
#	Tokyo Keiki, Inc.	405,000		1,007,055	0.0%
#*	Tokyo Kikai Seisakusho, Ltd.	17,000		11,086	0.0%
	Tokyo Sangyo Co., Ltd.	83,900		331,242	0.0%
	Tokyu Construction Co., Ltd.	468,900		3,843,344	0.1%
	Toli Corp.	283,000		942,471	0.0%
	Tomoe Corp.	156,100		496,370	0.0%
#	Tomoe Engineering Co., Ltd.	42,600		682,743	0.0%
	Tonami Holdings Co., Ltd.	338,000		1,265,641	0.0%
	Toppan Forms Co., Ltd.	298,500		3,089,754	0.1%
#	Torishima Pump Manufacturing Co., Ltd.	117,100		1,186,279	0.0%
#	Toshiba Machine Co., Ltd.	698,000		3,140,981	0.1%
	Toshiba Plant Systems & Services Corp.	262,650		4,149,713	0.1%
#	Tosho Printing Co., Ltd.	236,000		1,069,052	0.0%
	Totech Corp.	17,300		298,759	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Totetsu Kogyo Co., Ltd.	168,700	$	5,166,173	0.2%
	Totoku Electric Co., Ltd.	2,300		41,926	0.0%
	Toyo Construction Co., Ltd.	431,200		1,702,090	0.1%
#	Toyo Denki Seizo K.K.	45,500		675,408	0.0%
#	Toyo Engineering Corp.	944,400		2,331,826	0.1%
	Toyo Machinery & Metal Co., Ltd.	100,900		676,609	0.0%
	Toyo Tanso Co., Ltd.	68,800		1,192,663	0.0%
#	Toyo Wharf & Warehouse Co., Ltd.	340,000		553,926	0.0%
	Trancom Co., Ltd.	43,300		2,116,012	0.1%
	Trinity Industrial Corp.	22,000		157,721	0.0%
	Trusco Nakayama Corp.	335,300		8,013,595	0.2%
	Trust Tech, Inc.	50,000		972,815	0.0%
#	Tsubaki Nakashima Co., Ltd.	94,700		1,836,941	0.1%
	Tsubakimoto Chain Co.	864,700		7,488,302	0.2%
	Tsubakimoto Kogyo Co., Ltd.	117,000		456,125	0.0%
#*	Tsudakoma Corp.	294,000		476,966	0.0%
	Tsugami Corp.	395,000		2,842,946	0.1%
	Tsukishima Kikai Co., Ltd.	171,300		1,959,745	0.1%
	Tsurumi Manufacturing Co., Ltd.	106,000		1,762,223	0.1%
	TTK Co., Ltd.	62,000		286,642	0.0%
	Uchida Yoko Co., Ltd.	59,400		1,487,077	0.1%
	Ueki Corp.	348,000		846,138	0.0%
	Union Tool Co.	56,400		1,581,385	0.1%
	Ushio, Inc.	655,900		8,278,650	0.2%
*	UT Group Co., Ltd.	189,500		3,042,518	0.1%
	Utoc Corp.	98,700		413,419	0.0%
#	Wakachiku Construction Co., Ltd.	1,052,000		1,528,549	0.1%
	Wakita & Co., Ltd.	246,200		2,861,176	0.1%
	WDB Holdings Co., Ltd.	51,300		1,049,029	0.0%
	Weathernews, Inc.	38,500		1,287,627	0.0%
	Will Group, Inc.	45,800		389,547	0.0%
	World Holdings Co., Ltd.	43,300		1,011,763	0.0%
	Yahagi Construction Co., Ltd.	159,400		1,302,740	0.0%
	YAMABIKO Corp.	216,428		2,342,735	0.1%
	YAMADA Consulting Group Co., Ltd.	6,200		415,953	0.0%
#	Yamashin-Filter Corp.	30,300		591,986	0.0%
	Yamashina Corp.	276,000		179,266	0.0%
	Yamato Corp.	87,800		512,572	0.0%
	Yamaura Corp.	26,900		229,570	0.0%
	Yamazen Corp.	345,700		3,516,240	0.1%
	Yasuda Logistics Corp.	94,300		617,181	0.0%
	Yokogawa Bridge Holdings Corp.	214,100		2,968,517	0.1%
	Yondenko Corp.	131,800		602,084	0.0%
	Yuasa Trading Co., Ltd.	108,500		3,299,875	0.1%
	Yuken Kogyo Co., Ltd.	201,000		406,365	0.0%
#	Yumeshin Holdings Co., Ltd.	267,000		1,776,161	0.1%
	Yurtec Corp.	249,000		1,702,027	0.1%
	Yusen Logistics Co., Ltd.	109,500		1,013,377	0.0%
#	Yushin Precision Equipment Co., Ltd.	3,400		83,952	0.0%
	Zaoh Co., Ltd.	2,000		25,904	0.0%
#	Zenitaka Corp. (The)	133,000		512,534	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Zuiko Corp.	22,500	$	788,875	0.0%
Total Industrials				1,014,798,844	28.1%
Information Technology — (12.9%)
#	A&D Co., Ltd.	113,900		458,806	0.0%
#*	Access Co., Ltd.	213,000		1,652,908	0.1%
#	Ad-sol Nissin Corp.	19,400		206,201	0.0%
#	Adtec Plasma Technology Co., Ltd.	29,900		521,502	0.0%
	AGS Corp.	1,200		17,151	0.0%
#	Ai Holdings Corp.	247,200		6,657,858	0.2%
	Aichi Tokei Denki Co., Ltd.	18,700		631,629	0.0%
	Aiphone Co., Ltd.	71,900		1,262,465	0.0%
*	Akatsuki, Inc.	18,000		1,408,949	0.0%
	Alpha Systems, Inc.	36,360		742,938	0.0%
	Amano Corp.	377,600		7,881,083	0.2%
	Anritsu Corp.	873,500		7,892,418	0.2%
	AOI Electronic Co., Ltd.	26,900		1,006,478	0.0%
*	Apic Yamada Corp.	5,600		23,790	0.0%
	Argo Graphics, Inc.	49,400		1,139,141	0.0%
	Arisawa Manufacturing Co., Ltd.	200,900		1,546,542	0.1%
#	ArtSpark Holdings, Inc.	36,200		463,586	0.0%
	Asahi Net, Inc.	96,900		443,247	0.0%
	Ateam, Inc.	68,700		1,822,466	0.1%
	Aval Data Corp.	14,500		206,760	0.0%
	Axell Corp.	44,900		314,656	0.0%
	Azbil Corp.	160,000		6,091,149	0.2%
*	Bengo4.com, Inc.	15,200		193,849	0.0%
#	Broadband Tower, Inc.	253,500		571,173	0.0%
	Broadleaf Co., Ltd.	283,700		1,751,157	0.1%
	CAC Holdings Corp.	81,800		765,686	0.0%
	Canon Electronics, Inc.	133,800		2,741,471	0.1%
#	Capcom Co., Ltd.	294,600		6,992,364	0.2%
	CDS Co., Ltd.	3,900		45,827	0.0%
	Chino Corp.	37,100		411,188	0.0%
	Citizen Watch Co., Ltd.	1,594,400		11,218,770	0.3%
	CMK Corp.	284,400		2,363,871	0.1%
#	COLOPL, Inc.	298,600		3,028,497	0.1%
	Computer Engineering & Consulting, Ltd.	80,000		1,539,624	0.1%
	Computer Institute of Japan, Ltd.	70,300		355,439	0.0%
	Comture Corp.	20,100		870,303	0.0%
	CONEXIO Corp.	114,700		1,974,926	0.1%
#	COOKPAD, Inc.	287,400		2,333,152	0.1%
	Core Corp.	34,500		460,565	0.0%
	Cresco, Ltd.	30,700		1,018,202	0.0%
#	CROOZ, Inc.	45,600		1,093,456	0.0%
	Cube System, Inc.	36,700		286,337	0.0%
#	Cybernet Systems Co., Ltd.	48,200		305,463	0.0%
	Cybozu, Inc.	71,600		322,559	0.0%
	Dai-ichi Seiko Co., Ltd.	55,600		1,078,159	0.0%
	Daishinku Corp.	40,999		615,815	0.0%
	Daitron Co., Ltd.	40,900		466,144	0.0%
	Daiwabo Holdings Co., Ltd.	1,186,000		4,133,121	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
	Denki Kogyo Co., Ltd.	322,000	$	1,657,739	0.1%
	Densan System Co., Ltd.	16,300		253,386	0.0%
	Designone Japan, Inc.	22,500		299,074	0.0%
*	Dexerials Corp.	284,800		2,789,799	0.1%
	Digital Arts, Inc.	63,200		2,210,263	0.1%
#	Dip Corp.	182,000		3,702,390	0.1%
	DKK-Toa Corp.	42,300		266,311	0.0%
*	Drecom Co., Ltd.	64,300		1,241,245	0.0%
	DTS Corp.	128,500		3,947,783	0.1%
#	E-Guardian, Inc.	49,000		950,608	0.0%
	Eizo Corp.	108,300		4,266,274	0.1%
	Elecom Co., Ltd.	102,900		2,086,663	0.1%
	Elematec Corp.	52,271		851,060	0.0%
#*	Enigmo, Inc.	73,800		1,071,999	0.0%
	Enplas Corp.	59,300		1,829,721	0.1%
	ESPEC Corp.	120,500		1,845,238	0.1%
	Excel Co., Ltd.	49,300		642,724	0.0%
	F@N Communications, Inc.	297,800		2,635,852	0.1%
#	Faith, Inc.	27,910		307,312	0.0%
#*	FDK Corp.	552,000		659,535	0.0%
	Fenwal Controls of Japan, Ltd.	1,000		13,330	0.0%
	Ferrotec Holdings Corp.	191,600		2,485,041	0.1%
#*	FFRI, Inc.	20,400		961,006	0.0%
	FIRSTLOGIC, Inc.	3,200		73,364	0.0%
	Fixstars Corp.	22,600		803,077	0.0%
#*	Flight Holdings, Inc.	50,900		460,651	0.0%
	Forval Corp.	4,700		33,631	0.0%
#	FTGroup Co., Ltd.	74,000		623,759	0.0%
#*	FueTrek Co., Ltd.	38,100		337,335	0.0%
	Fuji Soft, Inc.	128,300		3,633,226	0.1%
	Fujitsu Frontech, Ltd.	75,300		1,199,910	0.0%
#	Fukui Computer Holdings, Inc.	43,600		1,464,506	0.1%
#*	Full Speed, Inc.	34,700		315,933	0.0%
	Furuno Electric Co., Ltd.	139,600		830,421	0.0%
	Furuya Metal Co., Ltd.	12,400		283,526	0.0%
	Future Corp.	137,100		1,074,577	0.0%
#*	G Three Holdings Corp.	195,200		329,979	0.0%
	GL Sciences, Inc.	15,600		179,574	0.0%
#	GMO Cloud K.K.	26,100		868,776	0.0%
#	GMO internet, Inc.	432,400		5,629,607	0.2%
#	GMO Payment Gateway, Inc.	98,500		5,459,302	0.2%
	Gree, Inc.	672,200		5,875,310	0.2%
#	GungHo Online Entertainment, Inc.	146,300		376,755	0.0%
#*	Gunosy, Inc.	57,300		1,188,275	0.0%
	Gurunavi, Inc.	172,800		2,809,565	0.1%
	Hagiwara Electric Co., Ltd.	26,800		525,469	0.0%
	Hakuto Co., Ltd.	90,500		1,145,881	0.0%
#	Hearts United Group Co., Ltd.	84,800		1,294,015	0.0%
	Hibino Corp.	22,500		465,588	0.0%
	Hioki EE Corp.	58,200		1,148,644	0.0%
	Hitachi Kokusai Electric, Inc.	332,500		7,764,938	0.2%
	Hitachi Maxell, Ltd.	203,100		4,164,002	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
	Hochiki Corp.	140,000	$	2,240,461	0.1%
#	Hokuriku Electric Industry Co., Ltd.	482,000		588,506	0.0%
	Honda Tsushin Kogyo Co., Ltd.	40,000		562,311	0.0%
	Horiba, Ltd.	153,050		9,335,984	0.3%
	Hosiden Corp.	362,000		4,161,085	0.1%
	I-Net Corp.	62,390		736,067	0.0%
	I-O Data Device, Inc.	42,300		458,466	0.0%
	Ibiden Co., Ltd.	428,378		7,408,638	0.2%
	Icom, Inc.	60,800		1,363,283	0.0%
#*	IGNIS, Ltd.	12,200		498,329	0.0%
#	Ikegami Tsushinki Co., Ltd.	339,000		465,293	0.0%
	Ines Corp.	183,900		1,842,633	0.1%
#	Infocom Corp.	80,400		1,543,874	0.1%
	Infomart Corp.	524,700		3,992,378	0.1%
	Information Development Co.	37,200		469,833	0.0%
	Information Services International-Dentsu, Ltd.	75,900		1,780,312	0.1%
	Innotech Corp.	105,000		622,885	0.0%
	Intelligent Wave, Inc.	48,900		300,950	0.0%
#	Inter Action Corp.	57,600		395,984	0.0%
	Internet Initiative Japan, Inc.	192,400		3,497,365	0.1%
	Iriso Electronics Co., Ltd.	55,300		4,459,860	0.1%
#	Istyle, Inc.	194,400		1,540,450	0.1%
#*	ITbook Co., Ltd.	78,800		437,933	0.0%
	Itfor, Inc.	151,700		836,514	0.0%
#	ITmedia, Inc.	4,600		27,384	0.0%
*	Itokuro, Inc.	18,200		718,616	0.0%
	Iwatsu Electric Co., Ltd.	572,000		412,748	0.0%
	Japan Aviation Electronics Industry, Ltd.	298,000		4,135,095	0.1%
	Japan Cash Machine Co., Ltd.	18,800		195,848	0.0%
#*	Japan Display, Inc.	2,144,300		4,066,803	0.1%
#	Japan Material Co., Ltd.	125,700		2,350,987	0.1%
	Japan Radio Co., Ltd.	71,000		912,482	0.0%
	Jastec Co., Ltd.	66,500		732,367	0.0%
#	JBCC Holdings, Inc.	87,500		649,310	0.0%
#*	JIG-SAW, Inc.	14,400		813,282	0.0%
	Justsystems Corp.	206,000		3,064,336	0.1%
	Kaga Electronics Co., Ltd.	110,100		2,260,118	0.1%
	Kanematsu Electronics, Ltd.	74,100		2,279,569	0.1%
#*	KLab, Inc.	206,200		3,261,362	0.1%
	Koa Corp.	195,900		3,637,677	0.1%
	Kyoden Co., Ltd.	91,700		277,247	0.0%
	Kyosan Electric Manufacturing Co., Ltd.	279,000		1,463,634	0.1%
	Kyowa Electronics Instruments Co., Ltd.	135,100		551,374	0.0%
#	LAC Co., Ltd.	93,800		1,233,856	0.0%
#	Lasertec Corp.	242,000		3,370,813	0.1%
#*	Livesense, Inc.	17,200		106,115	0.0%
	m-up, Inc.	28,300		486,032	0.0%
	Macnica Fuji Electronics Holdings, Inc.	203,150		2,976,350	0.1%
	Mamezou Holdings Co., Ltd.	85,300		765,059	0.0%
	MarkLines Co., Ltd.	15,400		123,719	0.0%
	Marubun Corp.	95,700		670,904	0.0%
	Maruwa Co., Ltd.	56,800		2,350,745	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
#	Marvelous, Inc.	196,300	$	1,937,893	0.1%
	MCJ Co., Ltd.	212,000		2,237,820	0.1%
#	Media Do Co., Ltd.	35,500		874,428	0.0%
#	Megachips Corp.	1,700		42,029	0.0%
	Meiko Electronics Co., Ltd.	121,800		1,558,743	0.1%
	Melco Holdings, Inc.	75,500		2,151,979	0.1%
#	Micronics Japan Co., Ltd.	206,600		2,044,407	0.1%
#	Mimaki Engineering Co., Ltd.	101,600		705,809	0.0%
	Mimasu Semiconductor Industry Co., Ltd.	101,481		1,531,077	0.1%
	Miraial Co., Ltd.	38,800		377,067	0.0%
	Miroku Jyoho Service Co., Ltd.	111,600		2,368,703	0.1%
#	Mitsubishi Research Institute, Inc.	37,700		1,094,493	0.0%
	Mitsui High-Tec, Inc.	150,400		2,408,716	0.1%
	Mobile Create Co., Ltd.	59,800		213,291	0.0%
#	Mobile Factory, Inc.	29,600		431,061	0.0%
#*	Morpho, Inc.	25,100		1,236,324	0.0%
#	MTI, Ltd.	196,600		1,269,999	0.0%
	Mutoh Holdings Co., Ltd.	146,000		327,307	0.0%
#*	Mynet, Inc.	18,200		469,728	0.0%
	Nagano Keiki Co., Ltd.	31,700		217,103	0.0%
	Nakayo, Inc.	390,000		1,373,951	0.0%
	NEC Networks & System Integration Corp.	136,600		2,972,793	0.1%
	NET One Systems Co., Ltd.	525,900		4,992,633	0.1%
*	New Japan Radio Co., Ltd.	96,000		582,353	0.0%
#	Nexyz Group Corp.	48,000		867,087	0.0%
	Nichicon Corp.	334,200		3,599,187	0.1%
	Nihon Dempa Kogyo Co., Ltd.	104,100		813,043	0.0%
	Nihon Unisys, Ltd.	351,175		5,562,086	0.2%
	Nippon Ceramic Co., Ltd.	62,200		1,453,125	0.1%
	Nippon Chemi-Con Corp.	990,000		3,593,034	0.1%
	Nippon Information Development Co., Ltd.	1,800		54,409	0.0%
#	Nippon Kodoshi Corp.	32,700		376,491	0.0%
	Nippon Signal Co., Ltd.	323,300		2,982,549	0.1%
	Nippon Systemware Co., Ltd.	42,900		708,521	0.0%
#	Nissha Printing Co., Ltd.	229,300		6,375,856	0.2%
	Nohmi Bosai, Ltd.	145,900		2,103,893	0.1%
	Noritsu Koki Co., Ltd.	120,000		1,045,625	0.0%
	NS Solutions Corp.	192,200		4,581,176	0.1%
	NSD Co., Ltd.	206,780		3,728,903	0.1%
	Nuflare Technology, Inc.	27,000		1,613,524	0.1%
#	Ohara, Inc.	47,600		535,305	0.0%
	Okaya Electric Industries Co., Ltd.	73,000		260,596	0.0%
	Oki Electric Industry Co., Ltd.	493,000		7,002,960	0.2%
	ONO Sokki Co., Ltd.	58,400		396,057	0.0%
#	Optex Group Co., Ltd.	87,600		2,838,616	0.1%
#*	Optim Corp.	25,000		684,756	0.0%
	Osaki Electric Co., Ltd.	254,000		1,901,612	0.1%
	Paltek Corp.	14,600		123,624	0.0%
	PCA Corp.	2,500		33,302	0.0%
	PCI Holdings, Inc.	15,000		347,596	0.0%
	Poletowin Pitcrew Holdings, Inc.	86,400		1,236,452	0.0%
	Rakus Co., Ltd.	28,200		543,663	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
	Renesas Easton Co., Ltd.	55,600	$	287,227	0.0%
#	Riken Keiki Co., Ltd.	97,700		1,821,476	0.1%
	Riso Kagaku Corp.	179,500		3,509,988	0.1%
	Roland DG Corp.	82,600		1,886,726	0.1%
#	Rorze Corp.	56,400		1,313,378	0.0%
#	RS Technologies Co., Ltd.	17,600		642,509	0.0%
#*	RVH, Inc.	78,100		502,634	0.0%
	Ryoden Corp.	187,000		1,298,529	0.0%
	Ryosan Co., Ltd.	191,900		7,017,677	0.2%
	Ryoyo Electro Corp.	127,900		2,043,541	0.1%
	Saison Information Systems Co., Ltd.	2,700		40,813	0.0%
#	Sakura Internet, Inc.	90,900		746,715	0.0%
	Sanken Electric Co., Ltd.	718,000		3,028,837	0.1%
	Sanshin Electronics Co., Ltd.	164,300		2,116,939	0.1%
#	Satori Electric Co., Ltd.	85,880		638,399	0.0%
#	Saxa Holdings, Inc.	298,000		549,540	0.0%
#	Scala, Inc.	91,500		684,254	0.0%
	Seikoh Giken Co., Ltd.	10,500		187,989	0.0%
	Shibaura Electronics Co., Ltd.	43,000		1,356,310	0.0%
	Shibaura Mechatronics Corp.	200,000		603,503	0.0%
#*	SHIFT, Inc.	32,500		347,511	0.0%
	Shindengen Electric Manufacturing Co., Ltd.	461,000		2,510,258	0.1%
#*	Shinkawa, Ltd.	94,400		600,322	0.0%
	Shinko Electric Industries Co., Ltd.	470,400		3,997,891	0.1%
	Shinko Shoji Co., Ltd.	135,600		1,727,399	0.1%
	Shizuki Electric Co., Inc.	101,900		612,510	0.0%
#	Siix Corp.	92,900		3,688,690	0.1%
	SK-Electronics Co., Ltd.	35,500		412,711	0.0%
	SMK Corp.	372,000		1,427,708	0.1%
	SMS Co., Ltd.	185,400		5,635,549	0.2%
#	Softbank Technology Corp.	68,200		1,240,326	0.0%
#	Softbrain Co., Ltd.	161,300		739,676	0.0%
	Softcreate Holdings Corp.	44,200		556,452	0.0%
#	Soliton Systems K.K.	45,500		509,424	0.0%
#	Sourcenext Corp.	81,100		461,599	0.0%
	SRA Holdings	63,100		1,699,040	0.1%
	Sumida Corp.	131,549		2,082,905	0.1%
	Sun-Wa Technos Corp.	54,900		726,952	0.0%
	Suzuden Corp.	12,200		137,012	0.0%
	Systemsoft Corp.	213,600		304,796	0.0%
	Systena Corp.	116,600		2,348,553	0.1%
#	Tabuchi Electric Co., Ltd.	154,600		488,680	0.0%
	Tachibana Eletech Co., Ltd.	98,560		1,340,884	0.0%
#	Taiyo Yuden Co., Ltd.	678,700		10,723,060	0.3%
	Takachiho Koheki Co., Ltd.	10,200		99,628	0.0%
	TAKEBISHI Corp.	16,600		207,424	0.0%
	Tamura Corp.	457,000		2,134,930	0.1%
	Tazmo Co., Ltd.	32,800		671,415	0.0%
	TDC Software Engineering, Inc.	29,900		336,395	0.0%
#*	Teac Corp.	706,000		314,556	0.0%
	TechMatrix Corp.	92,800		1,538,927	0.1%
#	Tecnos Japan, Inc.	98,800		1,022,951	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
	Teikoku Tsushin Kogyo Co., Ltd.	204,000	$	379,413	0.0%
	TIS, Inc.	450,901		12,555,547	0.4%
	TKC Corp.	105,800		3,122,658	0.1%
	Tokyo Electron Device, Ltd.	41,100		615,872	0.0%
	Tokyo Seimitsu Co., Ltd.	240,800		7,768,248	0.2%
	Tomen Devices Corp.	2,400		47,552	0.0%
	Topcon Corp.	595,400		10,287,557	0.3%
	Torex Semiconductor, Ltd.	33,100		523,634	0.0%
	Tose Co., Ltd.	17,500		362,647	0.0%
	Toshiba TEC Corp.	806,000		4,173,605	0.1%
	Toukei Computer Co., Ltd.	22,710		564,676	0.0%
#	Towa Corp.	131,400		1,932,845	0.1%
	Toyo Corp.	141,000		1,360,506	0.0%
	Transcosmos, Inc.	186,300		4,469,042	0.1%
#	Tri Chemical Laboratories, Inc.	32,300		827,151	0.0%
	UKC Holdings Corp.	86,600		1,459,227	0.1%
	Ulvac, Inc.	131,600		6,350,010	0.2%
#	UMC Electronics Co Ltd	10,500		153,199	0.0%
	Uniden Holdings Corp.	376,000		833,996	0.0%
	UNIRITA, Inc.	6,400		99,170	0.0%
#	UNITED, Inc.	69,000		1,632,637	0.1%
#	V Technology Co., Ltd.	27,500		4,747,648	0.1%
*	V-Cube, Inc.	85,300		447,591	0.0%
#	VeriServe Corp.	12,400		385,164	0.0%
#	Vitec Holdings Co., Ltd.	47,400		591,243	0.0%
	Voyage Group, Inc.	47,100		964,658	0.0%
#	Wellnet Corp.	86,200		1,065,386	0.0%
#	YAC Holdings Co., Ltd.	48,900		575,876	0.0%
#	Yamaichi Electronics Co., Ltd.	146,000		2,249,738	0.1%
	Yashima Denki Co., Ltd.	44,300		317,157	0.0%
#	Yokowo Co., Ltd.	86,200		1,093,032	0.0%
	Zappallas, Inc.	55,900		260,727	0.0%
#*	ZIGExN Co., Ltd.	104,000		1,517,722	0.1%
	Zuken, Inc.	85,800		1,204,729	0.0%
Total Information Technology				514,741,752	14.2%
Materials — (10.7%)
	Achilles Corp.	98,500		1,655,789	0.1%
	ADEKA Corp.	544,000		8,311,239	0.2%
#	Agro-Kanesho Co., Ltd.	68,400		1,003,106	0.0%
	Aichi Steel Corp.	67,000		2,647,051	0.1%
	Alconix Corp.	64,800		1,135,832	0.0%
	Arakawa Chemical Industries, Ltd.	97,500		1,673,465	0.1%
	Araya Industrial Co., Ltd.	268,000		455,678	0.0%
	Asahi Holdings, Inc.	182,350		3,001,340	0.1%
	Asahi Printing Co., Ltd.	800		18,708	0.0%
	Asahi Yukizai Corp.	424,000		935,912	0.0%
	Asia Pile Holdings Corp.	86,500		578,181	0.0%
	C Uyemura & Co., Ltd.	25,000		1,287,054	0.0%
	Carlit Holdings Co., Ltd.	89,600		475,466	0.0%
	Chuetsu Pulp & Paper Co., Ltd.	552,000		1,159,105	0.0%
*	Chugai Mining Co., Ltd.	1,012,400		261,234	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Chugoku Marine Paints, Ltd.	375,500	$	2,897,403	0.1%
	CI Takiron Corp.	328,000		1,745,087	0.1%
	Dai Nippon Toryo Co., Ltd.	740,000		2,021,008	0.1%
	Daido Steel Co., Ltd.	1,685,000		9,716,591	0.3%
	Daiichi Kigenso Kagaku-Kogyo Co., Ltd.	111,200		1,300,553	0.0%
	Daiken Corp.	91,100		1,959,248	0.1%
	Daiki Aluminium Industry Co., Ltd.	183,000		1,011,877	0.0%
	Dainichiseika Color & Chemicals Manufacturing Co., Ltd.	408,000		3,238,469	0.1%
#	Daio Paper Corp.	497,300		6,714,719	0.2%
	Denka Co., Ltd.	1,949,000		10,085,716	0.3%
	DKS Co., Ltd.	247,000		1,095,507	0.0%
	Dynapac Co., Ltd.	5,000		69,498	0.0%
	FP Corp.	148,000		8,014,172	0.2%
	Fuji Seal International, Inc.	264,200		7,304,086	0.2%
	Fujikura Kasei Co., Ltd.	145,500		814,399	0.0%
	Fujimi, Inc.	118,100		2,445,741	0.1%
	Fujimori Kogyo Co., Ltd.	96,500		3,034,080	0.1%
#	Fumakilla, Ltd.	94,000		803,942	0.0%
	Fuso Chemical Co., Ltd.	82,200		2,674,961	0.1%
	Geostr Corp.	66,200		576,865	0.0%
	Godo Steel, Ltd.	87,400		1,556,563	0.0%
	Gun-Ei Chemical Industry Co., Ltd.	28,600		928,386	0.0%
	Hakudo Co., Ltd.	14,000		212,518	0.0%
#	Haneda Zenith Holdings Co., Ltd.	200,100		588,320	0.0%
	Harima Chemicals Group, Inc.	79,000		651,606	0.0%
	Hodogaya Chemical Co., Ltd.	39,500		1,585,033	0.1%
	Hokkan Holdings, Ltd.	275,000		1,043,979	0.0%
	Hokko Chemical Industry Co., Ltd.	114,600		499,227	0.0%
	Hokuetsu Kishu Paper Co., Ltd.	857,799		6,737,967	0.2%
	Honshu Chemical Industry Co., Ltd.	14,000		111,530	0.0%
	Ise Chemicals Corp.	81,000		352,965	0.0%
*	Ishihara Sangyo Kaisha, Ltd.	218,150		2,240,408	0.1%
	Ishizuka Glass Co., Ltd.	119,000		232,070	0.0%
	JCU Corp.	68,500		2,438,480	0.1%
	JSP Corp.	79,300		2,397,793	0.1%
	Kanto Denka Kogyo Co., Ltd.	264,000		2,330,095	0.1%
	Katakura & Co-op Agri Corp.	76,000		182,642	0.0%
	Kawakin Holdings Co., Ltd.	11,000		35,587	0.0%
	KeePer Technical Laboratory Co., Ltd.	26,600		316,407	0.0%
	Kimoto Co., Ltd.	228,000		505,830	0.0%
	Koatsu Gas Kogyo Co., Ltd.	162,293		1,172,712	0.0%
	Kogi Corp.	55,000		118,034	0.0%
	Kohsoku Corp.	60,200		571,688	0.0%
	Konishi Co., Ltd.	193,600		2,775,706	0.1%
#	Konoshima Chemical Co., Ltd.	31,000		517,649	0.0%
	Krosaki Harima Corp.	309,000		1,193,131	0.0%
#	Kumiai Chemical Industry Co., Ltd.	494,287		2,861,332	0.1%
	Kureha Corp.	87,650		4,344,408	0.1%
	Kurimoto, Ltd.	61,500		1,116,480	0.0%
	Kuriyama Holdings Corp.	26,200		448,853	0.0%
#	Kyoei Steel, Ltd.	122,900		2,039,775	0.1%
	Kyowa Leather Cloth Co., Ltd.	54,100		451,877	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Lintec Corp.	286,700	$	6,869,812	0.2%
#	MEC Co., Ltd.	109,500		1,364,152	0.0%
	Mitani Sekisan Co., Ltd.	38,200		966,910	0.0%
*	Mitsubishi Paper Mills, Ltd.	179,500		1,292,696	0.0%
	Mitsubishi Steel Manufacturing Co., Ltd.	891,000		2,097,979	0.1%
	Mitsui Mining & Smelting Co., Ltd.	3,627,000		14,213,882	0.4%
#	MORESCO Corp.	41,300		764,732	0.0%
	Mory Industries, Inc.	31,900		656,171	0.0%
	Nakayama Steel Works, Ltd.	110,500		639,301	0.0%
	Neturen Co., Ltd.	207,600		1,971,333	0.1%
#*	New Japan Chemical Co., Ltd.	182,300		253,760	0.0%
	Nicca Chemical Co., Ltd.	22,100		236,920	0.0%
	Nichia Steel Works, Ltd.	164,900		414,457	0.0%
	Nihon Kagaku Sangyo Co., Ltd.	76,300		1,119,414	0.0%
#	Nihon Nohyaku Co., Ltd.	303,500		1,792,624	0.1%
	Nihon Parkerizing Co., Ltd.	581,400		8,694,253	0.2%
	Nihon Yamamura Glass Co., Ltd.	503,000		815,441	0.0%
	Nippon Carbide Industries Co., Inc.	434,000		738,210	0.0%
	Nippon Chemical Industrial Co., Ltd.	477,000		965,914	0.0%
#	Nippon Concrete Industries Co., Ltd.	274,000		989,421	0.0%
	Nippon Denko Co., Ltd.	703,014		2,483,045	0.1%
	Nippon Fine Chemical Co., Ltd.	81,000		718,070	0.0%
	Nippon Kayaku Co., Ltd.	509,000		7,217,901	0.2%
#	Nippon Kinzoku Co., Ltd.	29,300		402,656	0.0%
#	Nippon Koshuha Steel Co., Ltd.	460,000		340,338	0.0%
	Nippon Light Metal Holdings Co., Ltd.	3,065,900		7,297,794	0.2%
	Nippon Paper Industries Co., Ltd.	304,000		6,231,665	0.2%
	Nippon Pillar Packing Co., Ltd.	125,500		1,792,293	0.1%
	Nippon Soda Co., Ltd.	827,000		4,585,507	0.1%
#	Nippon Valqua Industries, Ltd.	102,599		2,032,852	0.1%
	Nippon Yakin Kogyo Co., Ltd.	831,300		1,728,137	0.1%
#	Nisshin Steel Co., Ltd.	262,492		2,884,859	0.1%
#	Nitta Gelatin, Inc.	79,300		509,866	0.0%
	Nittetsu Mining Co., Ltd.	34,400		1,854,669	0.1%
	Nitto FC Co., Ltd.	100,000		846,878	0.0%
	NOF Corp.	870,000		11,104,407	0.3%
	Nozawa Corp.	19,000		234,279	0.0%
	Okamoto Industries, Inc.	405,000		4,713,865	0.1%
	Okura Industrial Co., Ltd.	284,000		1,513,739	0.0%
	Osaka Organic Chemical Industry, Ltd.	97,900		1,233,199	0.0%
	Osaka Soda Co., Ltd.	424,000		2,057,211	0.1%
	Osaka Steel Co., Ltd.	83,300		1,613,699	0.1%
#*	Pacific Metals Co., Ltd.	941,000		2,475,809	0.1%
	Pack Corp. (The)	81,200		2,577,492	0.1%
#	Rasa Industries, Ltd.	480,000		590,671	0.0%
	Rengo Co., Ltd.	1,261,000		7,320,982	0.2%
#	Riken Technos Corp.	212,600		1,130,617	0.0%
	Sakai Chemical Industry Co., Ltd.	570,000		2,190,645	0.1%
	Sakata INX Corp.	252,400		4,034,001	0.1%
	Sanyo Chemical Industries, Ltd.	69,800		3,286,574	0.1%
	Sanyo Special Steel Co., Ltd.	650,300		3,690,561	0.1%
#	Seiko PMC Corp.	61,300		721,337	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Sekisui Plastics Co., Ltd.	141,000	$	1,150,214	0.0%
	Shikoku Chemicals Corp.	243,000		2,986,281	0.1%
	Shin-Etsu Polymer Co., Ltd.	271,100		2,121,201	0.1%
	Shinagawa Refractories Co., Ltd.	343,000		818,431	0.0%
	Shinko Wire Co., Ltd.	184,000		262,042	0.0%
	Showa Denko K.K.	245,999		5,736,334	0.2%
	SK Kaken Co., Ltd.	1,000		92,633	0.0%
	Soken Chemical & Engineering Co., Ltd.	9,100		118,324	0.0%
#	Stella Chemifa Corp.	61,800		1,599,474	0.1%
	Sumitomo Bakelite Co., Ltd.	1,163,000		8,224,186	0.2%
	Sumitomo Osaka Cement Co., Ltd.	2,493,000		11,856,128	0.3%
	Sumitomo Seika Chemicals Co., Ltd.	55,800		2,743,933	0.1%
	T Hasegawa Co., Ltd.	134,800		2,854,428	0.1%
#	T&K Toka Co., Ltd.	92,100		979,646	0.0%
	Taisei Lamick Co., Ltd.	34,000		885,021	0.0%
	Taiyo Holdings Co., Ltd.	104,900		4,726,658	0.1%
	Takasago International Corp.	87,900		3,316,406	0.1%
	Tayca Corp.	212,000		1,778,895	0.1%
	Tenma Corp.	88,700		1,636,482	0.1%
	Toagosei Co., Ltd.	658,000		8,582,880	0.2%
	Toda Kogyo Corp.	253,000		622,305	0.0%
	Toho Acetylene Co., Ltd.	5,300		76,689	0.0%
#	Toho Titanium Co., Ltd.	207,900		1,611,865	0.1%
#	Toho Zinc Co., Ltd.	800,000		3,370,294	0.1%
	Tokai Carbon Co., Ltd.	1,289,000		7,161,506	0.2%
	Tokushu Tokai Paper Co., Ltd.	57,758		2,092,016	0.1%
*	Tokuyama Corp.	2,159,000		10,433,289	0.3%
	Tokyo Ohka Kogyo Co., Ltd.	227,700		7,609,018	0.2%
	Tokyo Rope Manufacturing Co., Ltd.	87,600		1,336,687	0.0%
	Tokyo Steel Manufacturing Co., Ltd.	652,000		5,525,787	0.2%
	Tokyo Tekko Co., Ltd.	251,000		929,676	0.0%
	Tomoegawa Co., Ltd.	125,000		265,016	0.0%
	Tomoku Co., Ltd.	360,000		1,221,928	0.0%
	Topy Industries, Ltd.	114,200		3,411,751	0.1%
	Toyo Ink SC Holdings Co., Ltd.	1,157,000		6,094,231	0.2%
	Toyo Kohan Co., Ltd.	311,900		1,162,706	0.0%
	Toyobo Co., Ltd.	5,688,000		10,440,834	0.3%
	TYK Corp.	138,000		262,101	0.0%
	UACJ Corp.	1,714,415		4,708,913	0.1%
	Ube Industries, Ltd.	2,819,000		7,276,699	0.2%
#	W-Scope Corp.	148,900		2,615,580	0.1%
	Wood One Co., Ltd.	169,000		426,013	0.0%
	Yamato Kogyo Co., Ltd.	218,900		5,623,033	0.2%
	Yodogawa Steel Works, Ltd.	144,700		3,830,876	0.1%
	Yotai Refractories Co., Ltd.	33,000		110,759	0.0%
	Yuki Gosei Kogyo Co., Ltd.	36,200		92,567	0.0%
	Yushiro Chemical Industry Co., Ltd.	61,400		826,485	0.0%
	Zeon Corp.	30,000		321,108	0.0%
Total Materials				424,884,462	11.8%
Real Estate — (1.9%)
#	AD Works Co., Ltd.	624,700		244,950	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Real Estate — (Continued)
	Airport Facilities Co., Ltd.	132,770	$	721,790	0.0%
	Anabuki Kosan, Inc.	2,200		56,897	0.0%
	Aoyama Zaisan Networks Co., Ltd.	49,600		415,018	0.0%
#	Apamanshop Holdings Co., Ltd.	54,800		385,784	0.0%
#	Ardepro Co., Ltd.	872,800		1,180,789	0.0%
	Arealink Co., Ltd.	25,300		327,612	0.0%
#*	Ascot Corp.	67,700		234,114	0.0%
	CRE, Inc.	21,700		306,722	0.0%
	Daibiru Corp.	303,600		3,164,282	0.1%
	Daikyo, Inc.	1,904,000		3,886,034	0.1%
#	Dear Life Co., Ltd.	68,900		254,577	0.0%
	Goldcrest Co., Ltd.	101,790		2,255,776	0.1%
	Grandy House Corp.	53,800		204,326	0.0%
	Heiwa Real Estate Co., Ltd.	236,600		3,822,258	0.1%
#	Ichigo, Inc.	1,389,800		4,155,505	0.1%
#	Investors Cloud Co., Ltd.	21,400		1,044,614	0.0%
#*	Japan Asset Marketing Co., Ltd.	1,632,400		1,980,698	0.1%
	Japan Property Management Center Co., Ltd.	78,700		972,125	0.0%
	Kabuki-Za Co., Ltd.	34,000		1,626,376	0.1%
	Keihanshin Building Co., Ltd.	197,900		1,232,220	0.0%
#	Kenedix, Inc.	1,399,200		6,618,722	0.2%
	Land Business Co., Ltd.	34,000		88,988	0.0%
*	LAND Co., Ltd.	609,500		92,381	0.0%
	Leopalace21 Corp.	1,960,700		12,196,936	0.3%
#	Mugen Estate Co., Ltd.	73,300		603,322	0.0%
	Nippon Commercial Development Co., Ltd.	18,800		276,356	0.0%
	Nisshin Fudosan Co.	186,100		970,882	0.0%
	Open House Co., Ltd.	179,100		5,526,624	0.2%
	Properst Co., Ltd.	26,600		52,867	0.0%
#	Prospect Co., Ltd.	1,136,000		677,497	0.0%
#	Raysum Co., Ltd.	107,100		905,139	0.0%
	SAMTY Co., Ltd.	76,900		839,764	0.0%
	Sankyo Frontier Co., Ltd.	27,000		325,460	0.0%
#	Shinoken Group Co., Ltd.	81,500		1,645,405	0.1%
	Star Mica Co., Ltd.	32,700		835,896	0.0%
#*	Striders Corp.	153,000		87,183	0.0%
	Sun Frontier Fudousan Co., Ltd.	163,300		1,642,085	0.1%
	Takara Leben Co., Ltd.	552,800		2,483,646	0.1%
	TOC Co., Ltd.	341,350		3,238,280	0.1%
#	Tokyo Rakutenchi Co., Ltd.	207,000		1,062,994	0.0%
#	Tokyo Theatres Co., Inc.	468,000		591,096	0.0%
	Tosei Corp.	217,300		1,545,484	0.1%
#	Unizo Holdings Co., Ltd.	102,000		2,833,866	0.1%
#	Urbanet Corp. Co., Ltd.	91,400		343,377	0.0%
Total Real Estate				73,956,717	2.0%
Telecommunication Services — (0.1%)
#*	Broadmedia Corp.	371,900		351,145	0.0%
#	Freebit Co., Ltd.	70,500		566,424	0.0%
#	Okinawa Cellular Telephone Co.	43,600		1,460,545	0.1%
#*	U-Next Co., Ltd.	32,700		339,147	0.0%
#*	Vision, Inc.	34,600		802,679	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Telecommunication Services — (Continued)
#	WirelessGate, Inc.	52,500	$	728,710	0.0%
Total Telecommunication Services				4,248,650	0.1%
Utilities — (0.9%)
#*	Eneres Co., Ltd.	151,000		705,650	0.0%
#	eRex Co., Ltd.	194,800		1,693,345	0.1%
	Hiroshima Gas Co., Ltd.	176,500		556,222	0.0%
#	Hokkaido Electric Power Co., Inc.	1,189,200		9,073,897	0.3%
	Hokkaido Gas Co., Ltd.	330,000		807,307	0.0%
#	Hokuriku Electric Power Co.	947,100		8,549,718	0.2%
	Hokuriku Gas Co., Ltd.	9,900		243,852	0.0%
	K&O Energy Group, Inc.	85,200		1,345,402	0.0%
	Okinawa Electric Power Co., Inc. (The)	236,317		5,405,827	0.2%
	Saibu Gas Co., Ltd.	1,963,000		4,632,161	0.1%
	Shizuoka Gas Co., Ltd.	339,400		2,264,292	0.1%
	Toell Co., Ltd.	26,800		214,284	0.0%
#	West Holdings Corp.	96,800		707,747	0.0%
Total Utilities				36,199,704	1.0%
TOTAL COMMON STOCKS				3,593,940,663	99.4%
TOTAL INVESTMENT SECURITIES				3,593,940,663
			Value†
SECURITIES LENDING COLLATERAL — (9.6%)
§@	DFA Short Term Investment Fund	33,146,310		383,569,096	10.6%
TOTAL INVESTMENTS — (100.0%) (Cost $3,230,750,658)^			$	3,977,509,759	110.0%

The Japanese Small Company Series
continued

Summary of the Series' investments as of June 30, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in Securities (Market Value)
	Level 1	Level 2		Level 3	Total
Common Stocks
Consumer Discretionary	—	$	690,162,255	—	$	690,162,255
Consumer Staples	—		302,253,769	—		302,253,769
Energy	—		36,712,633	—		36,712,633
Financials	—		309,993,963	—		309,993,963
Health Care	—		185,987,914	—		185,987,914
Industrials	—		1,014,798,844	—		1,014,798,844
Information Technology	—		514,741,752	—		514,741,752
Materials	—		424,884,462	—		424,884,462
Real Estate	—		73,956,717	—		73,956,717
Telecommunication Services	—		4,248,650	—		4,248,650
Utilities	—		36,199,704	—		36,199,704
Securities Lending Collateral	—		383,569,096	—		383,569,096
TOTAL	—	$	3,977,509,759	—	$	3,977,509,759

THE ASIA PACIFIC SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

June 30, 2017
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (85.9%)
AUSTRALIA — (43.4%)
*	3P Learning, Ltd.	56,239	$	45,185	0.0%
*	Acrux, Ltd.	660,428		109,091	0.0%
	Adacel Technologies, Ltd.	31,244		56,436	0.0%
#	Adelaide Brighton, Ltd.	3,668,074		15,867,189	0.9%
#	Ainsworth Game Technology, Ltd.	871,641		1,447,277	0.1%
*	Alkane Resources, Ltd.	1,510,492		272,761	0.0%
	ALS, Ltd.	1,376,952		7,881,810	0.5%
#	Altium, Ltd.	557,104		3,668,947	0.2%
*	Altona Mining, Ltd.	1,108,169		110,735	0.0%
	Alumina, Ltd.	2,455,694		3,617,017	0.2%
#	AMA Group, Ltd.	877,810		654,388	0.0%
#	Amaysim Australia, Ltd.	613,675		735,894	0.0%
	Ansell, Ltd.	674,355		12,297,645	0.7%
*	Antares Energy, Ltd.	199,346		2,193	0.0%
#	AP Eagers, Ltd.	262,149		1,684,346	0.1%
#	APN Outdoor Group, Ltd.	848,886		3,137,746	0.2%
	APN Property Group, Ltd.	26,661		8,276	0.0%
	Appen, Ltd.	205,883		631,132	0.0%
#	ARB Corp., Ltd.	488,283		5,895,413	0.3%
#	Ardent Leisure Group	1,312,471		1,896,679	0.1%
#*	Arrium, Ltd.	17,951,296		97	0.0%
	Asaleo Care, Ltd.	1,697,246		1,915,962	0.1%
#*	Atlas Iron, Ltd.	7,155,231		82,537	0.0%
	AUB Group, Ltd.	268,561		2,684,601	0.2%
	Ausdrill, Ltd.	1,723,145		2,431,051	0.1%
	Austal, Ltd.	1,312,630		1,849,501	0.1%
#*	Australian Agricultural Co., Ltd.	2,864,730		4,084,718	0.2%
	Australian Finance Group, Ltd.	127,682		126,120	0.0%
	Australian Pharmaceutical Industries, Ltd.	2,618,533		3,832,477	0.2%
	Australian Vintage, Ltd.	4,105,188		1,340,418	0.1%
	Auswide Bank, Ltd.	94,385		372,935	0.0%
#	Automotive Holdings Group, Ltd.	1,886,217		4,856,859	0.3%
*	Avanco Resources, Ltd.	2,444,368		176,619	0.0%
	Aveo Group	1,944,830		4,158,412	0.2%
#	AVJennings, Ltd.	7,051,385		3,546,160	0.2%
#*	AWE, Ltd.	3,834,269		1,310,203	0.1%
#	Baby Bunting Group, Ltd.	142,278		212,695	0.0%
#	Bapcor, Ltd.	1,391,579		5,871,926	0.3%
	Beach Energy, Ltd.	13,769,668		6,077,921	0.4%
#*	Beadell Resources, Ltd.	7,171,491		1,187,937	0.1%
#	Bega Cheese, Ltd.	819,856		4,102,832	0.2%
#	Bellamy's Australia, Ltd.	306,528		1,628,134	0.1%
#*	Billabong International, Ltd.	756,968		430,655	0.0%
#	Blackmores, Ltd.	81,784		6,026,098	0.4%
	Blue Sky Alternative Investments, Ltd.	84,602		617,452	0.0%
	BlueScope Steel, Ltd.	400,903		4,058,769	0.2%
*	Boart Longyear, Ltd.	2,093,042		40,216	0.0%
	Boral, Ltd.	474,258		2,532,168	0.2%
	Breville Group, Ltd.	825,559		6,630,231	0.4%
	Brickworks, Ltd.	228,958		2,426,566	0.1%
	BT Investment Management, Ltd.	766,605		6,709,007	0.4%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
#*	Buru Energy, Ltd.	316,943	$	40,204	0.0%
#	Cabcharge Australia, Ltd.	863,423		1,678,945	0.1%
#	Capilano Honey, Ltd.	13,239		161,322	0.0%
*	Capitol Health, Ltd.	492,283		98,536	0.0%
	Capral, Ltd.	58,499		5,834	0.0%
#*	Cardno, Ltd.	1,615,947		1,513,733	0.1%
*	Carnarvon Petroleum, Ltd.	5,095,141		309,350	0.0%
*	Carnegie Clean Energy, Ltd.	1,015,131		44,482	0.0%
	carsales.com, Ltd.	1,702,940		15,085,046	0.9%
#	Cash Converters International, Ltd.	2,406,480		582,690	0.0%
*	Catapult Group International, Ltd.	26,827		48,062	0.0%
	Cedar Woods Properties, Ltd.	332,516		1,331,441	0.1%
	Class, Ltd.	71,208		164,187	0.0%
	Cleanaway Waste Management, Ltd.	10,470,362		11,064,060	0.7%
*	Clinuvel Pharmaceuticals, Ltd.	35,148		188,531	0.0%
	Codan, Ltd.	447,637		805,169	0.1%
#	Collection House, Ltd.	2,175,227		1,946,638	0.1%
	Collins Foods, Ltd.(B6QCFP1)	510,252		2,313,811	0.1%
	Collins Foods, Ltd.(BF5GK63)	46,387		210,353	0.0%
#*	Cooper Energy, Ltd.	1,224,088		357,470	0.0%
#	Corporate Travel Management, Ltd.	276,172		4,869,294	0.3%
	Costa Group Holdings, Ltd.	1,011,389		3,773,037	0.2%
#	Credit Corp. Group, Ltd.	248,508		3,387,393	0.2%
#	CSG, Ltd.	1,003,475		574,251	0.0%
	CSR, Ltd.	3,680,857		11,962,786	0.7%
*	CuDeco, Ltd.	387,893		71,542	0.0%
	Data#3, Ltd.	602,918		799,217	0.1%
	Decmil Group, Ltd.	867,988		620,540	0.0%
*	Devine, Ltd.	207,313		62,217	0.0%
	Dicker Data, Ltd.	104,364		189,859	0.0%
	Donaco International, Ltd.	28,566		12,731	0.0%
	Downer EDI, Ltd.	4,075,221		20,074,122	1.2%
	DuluxGroup, Ltd.	3,101,823		16,543,993	1.0%
	DWS, Ltd.	419,742		484,144	0.0%
	Eclipx Group, Ltd.	575,602		1,579,858	0.1%
#*	Elders, Ltd.	585,894		2,409,399	0.1%
*	Electro Optic Systems Holdings, Ltd.	102,402		239,254	0.0%
*	Emeco Holdings, Ltd.	1,193,646		96,254	0.0%
#*	Energy Resources of Australia, Ltd.	1,487,868		519,954	0.0%
#*	Energy World Corp., Ltd.	4,185,404		1,223,252	0.1%
	Enero Group, Ltd.	12,387		9,663	0.0%
	EQT Holdings, Ltd.	23,504		320,221	0.0%
	ERM Power, Ltd.	901,827		828,512	0.1%
#	Estia Health, Ltd.	797,887		1,869,841	0.1%
	Euroz, Ltd.	101,762		84,414	0.0%
	Event Hospitality and Entertainment, Ltd.	505,949		5,199,067	0.3%
	Evolution Mining, Ltd.	5,025,776		9,328,113	0.6%
	Fairfax Media, Ltd.	15,303,894		12,943,193	0.8%
#*	FAR, Ltd.	5,225,378		305,165	0.0%
	Finbar Group, Ltd.	190,901		116,606	0.0%
#*	Fleetwood Corp., Ltd.	394,575		716,293	0.0%
#	FlexiGroup, Ltd.	1,529,932		2,144,634	0.1%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
#	Flight Centre Travel Group, Ltd.	183,277	$	5,394,784	0.3%
#	G8 Education, Ltd.	2,251,336		6,246,677	0.4%
#*	Galaxy Resources, Ltd.	592,106		752,866	0.0%
#	Gateway Lifestyle	1,111,073		1,664,273	0.1%
#	GBST Holdings, Ltd.	97,044		221,612	0.0%
#	Genworth Mortgage Insurance Australia, Ltd.	1,319,330		2,969,694	0.2%
	Global Construction Services, Ltd.	4,832		2,226	0.0%
#*	Gold Road Resources, Ltd.	164,540		84,866	0.0%
	GR Engineering Services, Ltd.	55,230		62,372	0.0%
	GrainCorp, Ltd. Class A	1,255,046		9,136,281	0.5%
	Grange Resources, Ltd.	1,724,297		158,993	0.0%
#	Greencross, Ltd.	377,275		1,754,291	0.1%
*	Greenland Minerals & Energy, Ltd.	114,047		8,766	0.0%
#	GUD Holdings, Ltd.	893,134		8,860,682	0.5%
	GWA Group, Ltd.	2,030,007		4,912,184	0.3%
#	Hansen Technologies, Ltd.	507,450		1,575,426	0.1%
	Healthscope, Ltd.	1,709,788		2,905,774	0.2%
	HFA Holdings, Ltd.	430,718		795,625	0.1%
*	Highfield Resources, Ltd.	121,654		89,868	0.0%
*	Hills, Ltd.	1,277,876		152,270	0.0%
*	Horizon Oil, Ltd.	4,073,887		131,491	0.0%
#	HT&E, Ltd.	2,156,742		4,375,342	0.3%
	IDP Education, Ltd.	56,620		221,481	0.0%
	Iluka Resources, Ltd.	2,032,058		13,553,324	0.8%
*	Imdex, Ltd.	1,709,061		991,828	0.1%
#	IMF Bentham, Ltd.	923,269		1,340,986	0.1%
#	Independence Group NL	2,082,153		5,036,470	0.3%
*	Infigen Energy	4,209,569		2,360,748	0.1%
	Infomedia, Ltd.	2,204,042		1,228,152	0.1%
	Integral Diagnostics, Ltd.	13,802		17,611	0.0%
	Integrated Research, Ltd.	401,084		992,533	0.1%
	InvoCare, Ltd.	920,100		10,395,041	0.6%
#	IOOF Holdings, Ltd.	2,068,330		15,582,495	0.9%
	IPH, Ltd.	27,095		99,921	0.0%
#	IRESS, Ltd.	1,175,824		11,466,442	0.7%
	iSelect, Ltd.	403,793		623,573	0.0%
#	iSentia Group, Ltd.	618,868		1,022,398	0.1%
	IVE Group, Ltd.	33,461		55,324	0.0%
#	Japara Healthcare, Ltd.	1,122,025		1,811,052	0.1%
#	JB Hi-Fi, Ltd.	962,791		17,293,272	1.0%
*	Jupiter Mines, Ltd.	381,117		152,447	0.0%
	K&S Corp., Ltd.	268,400		330,504	0.0%
#*	Karoon Gas Australia, Ltd.	869,250		854,498	0.1%
#*	Kingsgate Consolidated, Ltd.	1,717,937		264,092	0.0%
*	Kingsrose Mining, Ltd.	937,248		54,028	0.0%
	Link Administration Holdings, Ltd.	951,916		5,780,065	0.3%
#*	Lynas Corp., Ltd.	3,390,978		273,620	0.0%
	MACA, Ltd.	731,947		928,255	0.1%
*	Macmahon Holdings, Ltd.	6,881,875		872,250	0.1%
	Macquarie Atlas Roads Group	606,435		2,615,288	0.2%
	Magellan Financial Group, Ltd.	493,135		10,931,683	0.6%
	Mantra Group, Ltd.	1,635,580		3,833,592	0.2%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
	MaxiTRANS Industries, Ltd.	915,613	$	470,744	0.0%
#*	Mayne Pharma Group, Ltd.	6,571,574		5,480,577	0.3%
	McMillan Shakespeare, Ltd.	450,123		4,636,096	0.3%
#	McPherson's, Ltd.	558,677		558,744	0.0%
*	Medusa Mining, Ltd.	1,263,898		272,177	0.0%
	Melbourne IT, Ltd.	504,714		1,112,683	0.1%
#*	Mesoblast, Ltd.	383,958		613,802	0.0%
#*	Metals X, Ltd.	1,715,013		881,110	0.1%
#*	Metcash, Ltd.	5,204,963		9,601,886	0.6%
#	Michael Hill International, Ltd.(BD8D249)	1,490,263		1,255,630	0.1%
	Michael Hill International, Ltd.(BD8D250)	63,183		53,880	0.0%
*	Millennium Minerals, Ltd.	697,541		99,373	0.0%
*	Mincor Resources NL	867,536		119,774	0.0%
	Mineral Resources, Ltd.	1,168,088		9,734,092	0.6%
*	Mitula Group, Ltd.	17,883		13,334	0.0%
#*	MMA Offshore, Ltd.	2,282,868		271,884	0.0%
	MNF Group, Ltd.	54,234		182,149	0.0%
#	Monadelphous Group, Ltd.	813,595		8,743,113	0.5%
#	Monash IVF Group, Ltd.	393,026		537,493	0.0%
	Money3 Corp., Ltd.	248,322		244,222	0.0%
*	Morning Star Gold NL	332,749		26	0.0%
#	Mortgage Choice, Ltd.	726,484		1,199,950	0.1%
#*	Mount Gibson Iron, Ltd.	4,758,288		1,204,783	0.1%
#	Myer Holdings, Ltd.	5,669,367		3,638,849	0.2%
	MYOB Group, Ltd.	1,132,541		2,975,280	0.2%
#	MyState, Ltd.	331,146		1,234,925	0.1%
#	Navitas, Ltd.	1,606,445		5,987,342	0.4%
	Neometals, Ltd.	314,252		65,223	0.0%
#*	NetComm Wireless, Ltd.	36,441		48,232	0.0%
	New Hope Corp., Ltd.	251,555		295,800	0.0%
#*	NEXTDC, Ltd.	403,993		1,399,754	0.1%
	nib holdings, Ltd.	2,772,247		12,250,542	0.7%
	Nick Scali, Ltd.	195,770		916,430	0.1%
#	Nine Entertainment Co. Holdings, Ltd.	1,212,419		1,285,177	0.1%
	Northern Star Resources, Ltd.	4,806,957		17,586,102	1.0%
*	NRW Holdings, Ltd.	2,147,851		1,065,575	0.1%
	Nufarm, Ltd.	1,407,770		10,416,690	0.6%
#	OFX Group, Ltd.	896,928		1,109,023	0.1%
	oOh!media, Ltd.	49,189		155,743	0.0%
#*	Orocobre, Ltd.	892,424		2,381,507	0.1%
	Orora, Ltd.	5,047,425		11,092,109	0.7%
	OrotonGroup, Ltd.	105,494		80,679	0.0%
	OZ Minerals, Ltd.	2,198,276		12,513,448	0.7%
#	Pacific Current Group, Ltd.	86,809		443,532	0.0%
	Pacific Smiles Group, Ltd.	247,728		346,610	0.0%
	Pact Group Holdings, Ltd.	759,434		3,495,672	0.2%
#*	Paladin Energy, Ltd.	9,564,569		345,512	0.0%
*	Panoramic Resources, Ltd.	1,865,498		315,091	0.0%
	Peet, Ltd.	1,689,093		1,550,443	0.1%
#*	Peninsula Energy, Ltd.	209,095		53,810	0.0%
	Pepper Group, Ltd.	6,014		15,730	0.0%
#	Perpetual, Ltd.	356,426		15,299,167	0.9%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
#*	Perseus Mining, Ltd.	3,800,711	$	848,356	0.1%
	Pioneer Credit, Ltd.	41,534		75,969	0.0%
#	Platinum Asset Management, Ltd.	825,522		2,936,736	0.2%
	PMP, Ltd.	2,327,074		1,341,084	0.1%
	Premier Investments, Ltd.	594,567		5,791,656	0.3%
*	Prima Biomed, Ltd.	1,409,121		30,370	0.0%
	Primary Health Care, Ltd.	3,326,526		9,303,627	0.5%
#	Prime Media Group, Ltd.	2,031,951		593,135	0.0%
	Pro Medicus, Ltd.	66,568		272,194	0.0%
#	Programmed Maintenance Services, Ltd.	1,899,060		2,721,573	0.2%
	PWR Holdings, Ltd.	8,871		16,054	0.0%
#	Qube Holdings, Ltd.(B1L4BC6)	3,449,390		6,973,485	0.4%
	Qube Holdings, Ltd.(BDFZVX0)	229,960		464,845	0.0%
#	Quintis, Ltd.	2,130,129		511,231	0.0%
#*	Ramelius Resources, Ltd.	2,916,355		1,010,040	0.1%
#	RCG Corp., Ltd.	599,598		396,322	0.0%
*	RCR Tomlinson, Ltd.	1,055,209		2,768,418	0.2%
	Reckon, Ltd.	386,721		490,643	0.0%
	Reece, Ltd.	228,772		7,383,646	0.4%
#	Regis Healthcare, Ltd.	697,708		2,108,041	0.1%
	Regis Resources, Ltd.	2,702,494		7,864,775	0.5%
#	Reject Shop, Ltd. (The)	269,244		860,820	0.1%
#	Resolute Mining, Ltd.	6,821,177		6,256,406	0.4%
#	Retail Food Group, Ltd.	1,222,493		4,416,055	0.3%
	Ridley Corp., Ltd.	1,442,108		1,534,986	0.1%
*	RPMGlobal Holdings, Ltd.	30,702		12,855	0.0%
	Ruralco Holdings, Ltd.	156,619		355,208	0.0%
	RXP Services, Ltd.	168,231		97,612	0.0%
*	Salmat, Ltd.	645,788		190,718	0.0%
	Sandfire Resources NL	875,632		3,800,624	0.2%
*	Saracen Mineral Holdings, Ltd.	6,350,203		5,719,135	0.3%
#	SeaLink Travel Group, Ltd.	107,406		336,059	0.0%
#	Select Harvests, Ltd.	547,489		2,061,837	0.1%
*	Senetas Corp., Ltd.	131,335		8,784	0.0%
#*	Senex Energy, Ltd.	6,604,011		1,395,075	0.1%
#	Servcorp, Ltd.	325,416		1,425,531	0.1%
	Service Stream, Ltd.	1,930,150		1,957,687	0.1%
#	Seven Group Holdings, Ltd.	559,015		4,703,119	0.3%
	Seven West Media, Ltd.	7,785,820		4,278,109	0.3%
#	SG Fleet Group, Ltd.	256,031		747,905	0.0%
	Shine Corporate, Ltd.	15,573		6,582	0.0%
	Shriro Holdings, Ltd.	66,087		55,583	0.0%
	Sigma Healthcare, Ltd.	7,817,607		5,376,873	0.3%
#*	Silex Systems, Ltd.	511,695		143,466	0.0%
#	Silver Chef, Ltd.	124,595		715,337	0.0%
#*	Silver Lake Resources, Ltd.	4,060,760		1,469,486	0.1%
#	Sims Metal Management, Ltd.	1,382,214		16,093,355	0.9%
*	Sino Gas & Energy Holdings, Ltd.	240,068		15,866	0.0%
#	Sirtex Medical, Ltd.	413,240		5,161,594	0.3%
*	Slater & Gordon, Ltd.	1,958,808		121,804	0.0%
	SmartGroup Corp., Ltd.	184,158		1,014,836	0.1%
	SMS Management & Technology, Ltd.	575,318		794,118	0.1%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
	Southern Cross Media Group, Ltd.	3,965,374	$	3,793,790	0.2%
	Spark Infrastructure Group	10,321,289		20,768,775	1.2%
*	Specialty Fashion Group, Ltd.	786,397		238,735	0.0%
#	SpeedCast International, Ltd.	759,374		2,230,261	0.1%
#	Spotless Group Holdings, Ltd.	4,177,679		3,689,908	0.2%
#*	St Barbara, Ltd.	3,864,261		8,657,518	0.5%
	Steadfast Group, Ltd.	3,121,023		6,377,167	0.4%
*	Strike Energy, Ltd.	1,576,787		72,726	0.0%
#*	Sundance Energy Australia, Ltd.	5,832,497		277,771	0.0%
	Sunland Group, Ltd.	740,896		1,012,458	0.1%
#	Super Retail Group, Ltd.	1,280,749		8,070,944	0.5%
#*	Syrah Resources, Ltd.	787,126		1,675,815	0.1%
	Tabcorp Holdings, Ltd.	3,586,818		12,046,228	0.7%
#	Tassal Group, Ltd.	1,165,563		3,412,945	0.2%
	Technology One, Ltd.	1,772,760		7,844,513	0.5%
#*	Ten Network Holdings, Ltd.	1,309,458		161,032	0.0%
#	Thorn Group, Ltd.	695,608		759,356	0.1%
*	Tiger Resources, Ltd.	9,447,997		267,232	0.0%
#	Tox Free Solutions, Ltd.	1,192,817		2,199,908	0.1%
	Treasury Wine Estates, Ltd.	218,881		2,213,312	0.1%
*	Tribune Resources, Ltd.	3,093		17,298	0.0%
*	Troy Resources, Ltd.	2,230,415		133,887	0.0%
	Villa World, Ltd.	498,833		862,529	0.1%
#	Village Roadshow, Ltd.	836,651		2,603,547	0.2%
#*	Virgin Australia Holdings, Ltd.	11,885,050		1,461,082	0.1%
	Virtus Health, Ltd.	350,446		1,447,728	0.1%
#	Vita Group, Ltd.	233,830		199,445	0.0%
#	Vocus Group, Ltd.	4,330,071		11,212,642	0.7%
*	Watpac, Ltd.	760,701		330,442	0.0%
	Webjet, Ltd.	628,358		5,964,291	0.4%
	Webster, Ltd.	23,507		25,298	0.0%
#*	Western Areas, Ltd.	2,274,784		3,689,621	0.2%
#*	Westgold Resources, Ltd.	1,307,843		1,853,078	0.1%
#*	Whitehaven Coal, Ltd.	4,143,411		9,137,891	0.5%
*	WorleyParsons, Ltd.	899,262		7,748,257	0.5%
#	WPP AUNZ, Ltd.	2,447,007		2,349,839	0.1%
	Xenith IP Group, Ltd.	9,607		14,702	0.0%
*	Yowie Group, Ltd.	40,157		9,732	0.0%
TOTAL AUSTRALIA				861,402,303	50.3%
CHINA — (0.1%)
#	BEP International Holdings, Ltd.	23,260,000		744,858	0.0%
*	HongDa Financial Holding, Ltd.	3,480,000		110,124	0.0%
	K Wah International Holdings, Ltd.	45,632		27,700	0.0%
#*	KuangChi Science, Ltd.	2,481,000		879,915	0.1%
	Lisi Group Holdings, Ltd.	9,958,000		790,754	0.1%
	Rivera Holdings, Ltd.	5,710,000		438,964	0.0%
TOTAL CHINA				2,992,315	0.2%
HONG KONG — (25.0%)
*	13 Holdings, Ltd. (The)	142,500		29,369	0.0%
	Aeon Credit Service Asia Co., Ltd.	632,000		465,386	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	Aeon Stores Hong Kong Co., Ltd.	248,000	$	222,745	0.0%
	Agritrade Resources, Ltd.	3,065,000		757,891	0.1%
	Alco Holdings, Ltd.	1,614,000		413,602	0.0%
	Allan International Holdings	32,000		9,141	0.0%
	Allied Group, Ltd.	663,200		4,165,498	0.3%
	Allied Properties HK, Ltd.	12,007,857		2,599,138	0.2%
	Alltronics Holdings, Ltd.	1,929,600		617,819	0.0%
*	Anxian Yuan China Holdings, Ltd.	3,100,000		22,207	0.0%
*	APAC Resources, Ltd.	3,174,735		430,721	0.0%
#*	Applied Development Holdings, Ltd.	6,900,000		494,481	0.0%
	APT Satellite Holdings, Ltd.	3,008,500		1,578,147	0.1%
	Arts Optical International Hldgs, Ltd.	730,000		243,267	0.0%
	Asia Financial Holdings, Ltd.	2,404,908		1,308,696	0.1%
*	Asia Investment Finance Group, Ltd.	5,674,000		55,275	0.0%
	Asia Satellite Telecommunications Holdings, Ltd.	934,500		994,380	0.1%
	Asia Standard Hotel Group, Ltd.	34,311,654		2,538,516	0.2%
#	Asia Standard International Group, Ltd.	13,316,917		3,838,659	0.2%
	Asian Growth Properties, Ltd.	1,486,095		464,679	0.0%
	Associated International Hotels, Ltd.	952,000		2,852,730	0.2%
*	Auto Italia Holdings	1,900,000		22,266	0.0%
	BeijingWest Industries International, Ltd.	1,277,600		253,493	0.0%
*	Best Food Holding Co., Ltd.	70,000		11,302	0.0%
*	Bisu Technology Group International, Ltd.	16,000		14,424	0.0%
#	Bonjour Holdings, Ltd.	13,988,600		698,329	0.0%
	Bossini International Holdings, Ltd.	3,699,500		222,766	0.0%
#	Bright Smart Securities & Commodities Group, Ltd.	5,254,000		1,540,403	0.1%
*	Brightoil Petroleum Holdings, Ltd.	10,160,000		2,745,691	0.2%
#*	Brockman Mining, Ltd.	22,810,814		432,925	0.0%
*	Burwill Holdings, Ltd.	31,596,960		873,664	0.1%
	Cafe de Coral Holdings, Ltd.	2,438,000		7,898,019	0.5%
*	Cash Financial Services Group, Ltd.	3,438,000		125,466	0.0%
*	CCT Land Holdings, Ltd.	18,640,000		23,970	0.0%
	Century City International Holdings, Ltd.	6,575,460		614,539	0.0%
	CGN Mining Co., Ltd.	2,640,000		212,813	0.0%
*	Champion Technology Holdings, Ltd.	17,285,089		236,677	0.0%
	Chen Hsong Holdings	1,212,000		331,941	0.0%
	Cheuk Nang Holdings, Ltd.	659,127		441,814	0.0%
	Chevalier International Holdings, Ltd.	820,989		1,383,833	0.1%
#*	China Baofeng International, Ltd.	22,000		11,255	0.0%
*	China Best Group Holding, Ltd.	5,300,000		90,365	0.0%
*	China Billion Resources, Ltd.	2,438,000		7,815	0.0%
*	China Chuanglian Education Financial Group, Ltd.	4,664,000		73,789	0.0%
	China Display Optoelectronics Technology Holdings, Ltd.	4,288,000		653,744	0.0%
*	China Energy Development Holdings, Ltd.	52,140,000		480,853	0.0%
*	China Ever Grand Financial Leasing Group Co., Ltd.	810,000		7,057	0.0%
	China Flavors & Fragrances Co., Ltd.	1,561,028		466,136	0.0%
*	China Fortune Financial Group, Ltd.	6,570,000		189,515	0.0%
*	China Healthcare Enterprise Group, Ltd.	7,756,000		114,352	0.0%
#	China LNG Group, Ltd.	77,280,000		1,434,532	0.1%
*	China Ludao Technology Co., Ltd.	580,000		99,584	0.0%
*	China Medical & Healthcare Group, Ltd.	42,916,800		1,705,030	0.1%
	China Metal International Holdings, Inc.	2,670,000		994,637	0.1%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	China Motor Bus Co., Ltd.	60,600	$	819,908	0.1%
*	China National Culture Group, Ltd.	7,410,000		17,100	0.0%
#*	China Soft Power Technology Holdings, Ltd.	5,790,402		139,703	0.0%
*	China Solar Energy Holdings, Ltd.	1,669,500		7,217	0.0%
*	China Star Entertainment, Ltd.	1,850,000		120,943	0.0%
#*	China Strategic Holdings, Ltd.	64,036,250		999,718	0.1%
	China Ting Group Holdings, Ltd.	2,565,151		143,102	0.0%
*	China Wah Yan Healthcare, Ltd.	11,685,000		38,886	0.0%
#	Chinese Estates Holdings, Ltd.	665,500		928,836	0.1%
*	Chinlink International Holdings, Ltd.	1,554,800		257,092	0.0%
	Chinney Investments, Ltd.	1,180,000		502,666	0.0%
	Chong Hing Bank, Ltd.	107,000		225,841	0.0%
	Chow Sang Sang Holdings International, Ltd.	2,391,000		5,580,331	0.3%
	CHTC Fong's Industries Co., Ltd.	42,000		11,122	0.0%
	Chuang's China Investments, Ltd.	8,401,407		688,539	0.0%
	Chuang's Consortium International, Ltd.	7,163,043		1,641,440	0.1%
	CITIC Telecom International Holdings, Ltd.	12,426,125		3,977,627	0.2%
	CK Life Sciences Intl Holdings, Inc.	22,972,000		1,940,747	0.1%
#	CMBC Capital Holdings, Ltd.	12,270,000		644,346	0.0%
*	CMMB Vision Holdings, Ltd.	8,056,000		381,463	0.0%
	CNQC International Holdings, Ltd.	2,880,000		955,182	0.1%
	CNT Group, Ltd.	8,303,264		670,357	0.0%
#*	Common Splendor International Health Industry Group, Ltd.	9,024,000		693,575	0.0%
*	Continental Holdings, Ltd.	450,000		6,651	0.0%
#	Convenience Retail Asia, Ltd.	142,000		70,369	0.0%
#*	Convoy Global Holdings, Ltd.	45,930,000		670,744	0.0%
*	Cosmopolitan International Holdings, Ltd.	440,000		23,682	0.0%
#	Cowell e Holdings, Inc.	1,993,000		796,435	0.1%
*	CP Lotus Corp.	11,880,000		179,722	0.0%
*	Crocodile Garments	2,085,000		277,923	0.0%
#	Cross-Harbour Holdings, Ltd. (The)	889,956		1,331,640	0.1%
	CSI Properties, Ltd.	39,356,383		1,890,243	0.1%
#	CW Group Holdings, Ltd.	2,711,500		424,705	0.0%
	Dah Sing Banking Group, Ltd.	3,948,316		8,404,250	0.5%
#	Dah Sing Financial Holdings, Ltd.	1,500,544		12,595,549	0.7%
	Dickson Concepts International, Ltd.	1,282,500		509,279	0.0%
*	Ding He Mining Holdings, Ltd.	8,124,000		52,976	0.0%
*	Dragonite International, Ltd.	56,000		12,200	0.0%
	Dynamic Holdings, Ltd.	52,000		49,619	0.0%
	Eagle Nice International Holdings, Ltd.	1,846,000		638,475	0.0%
	EcoGreen International Group, Ltd.	1,634,640		330,687	0.0%
	Emperor Capital Group, Ltd.	31,323,000		2,808,573	0.2%
	Emperor Entertainment Hotel, Ltd.	4,665,000		1,123,158	0.1%
	Emperor International Holdings, Ltd.	9,154,753		3,015,667	0.2%
*	Emperor Watch & Jewellery, Ltd.	26,450,000		1,134,422	0.1%
*	Enerchina Holdings, Ltd.	20,782,500		462,944	0.0%
*	ENM Holdings, Ltd.	14,680,000		996,530	0.1%
*	EPI Holdings, Ltd.	1		—	0.0%
#*	Esprit Holdings, Ltd.	14,828,050		7,898,155	0.5%
*	eSun Holdings, Ltd.	4,444,000		507,495	0.0%
*	Eternity Investment, Ltd.	830,000		22,203	0.0%
#	Fairwood Holdings, Ltd.	719,100		3,025,228	0.2%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	Far East Consortium International, Ltd.	9,468,288	$	5,286,306	0.3%
*	Far East Holdings International, Ltd.	720,000		70,200	0.0%
#	FIH Mobile, Ltd.	16,311,000		5,035,415	0.3%
	First Pacific Co., Ltd.	6,020,000		4,439,524	0.3%
*	First Shanghai Investments, Ltd.	5,576,000		764,347	0.1%
	Fountain SET Holdings, Ltd.	5,730,000		748,422	0.1%
	Four Seas Mercantile Holdings, Ltd.	610,000		266,207	0.0%
*	Freeman FinTech Corp., Ltd.	15,420,000		1,026,968	0.1%
	Fulum Group Holdings, Ltd.	76,000		10,901	0.0%
	Future Bright Holdings, Ltd.	3,288,000		294,947	0.0%
*	Future World Financial Holdings, Ltd.	205,723		3,424	0.0%
*	G-Resources Group, Ltd.	172,599,600		2,475,966	0.2%
#*	GCL New Energy Holdings, Ltd.	28,696,000		1,397,452	0.1%
#	Get Nice Financial Group, Ltd.	1,258,600		186,912	0.0%
#	Get Nice Holdings, Ltd.	41,752,000		1,471,156	0.1%
	Giordano International, Ltd.	11,466,000		6,548,986	0.4%
*	Global Brands Group Holding, Ltd.	33,378,000		3,500,927	0.2%
	Glorious Sun Enterprises, Ltd.	4,328,000		509,908	0.0%
	Gold Peak Industries Holdings, Ltd.	3,029,642		294,889	0.0%
	Golden Resources Development International, Ltd.	3,330,500		217,444	0.0%
#*	Good Resources Holdings, Ltd.	9,720,000		429,807	0.0%
	Goodbaby International Holdings, Ltd.	304,000		125,665	0.0%
*	Grande Holdings, Ltd. (The)	882,000		33,836	0.0%
	Great Eagle Holdings, Ltd.	614,566		3,124,480	0.2%
	Guangnan Holdings, Ltd.	2,363,600		311,804	0.0%
	Guoco Group, Ltd.	2,000		22,933	0.0%
#	Guotai Junan International Holdings, Ltd.	24,430,797		7,574,137	0.5%
#	Haitong International Securities Group, Ltd.	13,596,015		8,029,554	0.5%
	Hanison Construction Holdings, Ltd.	2,103,649		406,962	0.0%
*	Hao Tian Development Group, Ltd.	16,639,200		649,531	0.0%
	Harbour Centre Development, Ltd.	935,500		1,806,924	0.1%
*	Henry Group Holdings, Ltd.	560,000		104,631	0.0%
	High Fashion International, Ltd.	268,000		69,963	0.0%
	HKBN, Ltd.	3,280,500		3,291,327	0.2%
*	HKR International, Ltd.	6,035,136		3,247,425	0.2%
	Hon Kwok Land Investment Co., Ltd.	388,800		210,119	0.0%
	Hong Kong Aircraft Engineering Co., Ltd.	126,800		869,240	0.1%
*	Hong Kong Building & Loan Agency, Ltd. (The)	1,200,000		26,137	0.0%
	Hong Kong Ferry Holdings Co., Ltd.	866,300		992,961	0.1%
	Hong Kong Shanghai Alliance Holdings, Ltd.	1,248,002		145,466	0.0%
*	Hong Kong Television Network, Ltd.	3,075,751		1,182,057	0.1%
#	Hongkong & Shanghai Hotels, Ltd. (The)	2,198,612		3,969,295	0.2%
	Hongkong Chinese, Ltd.	5,038,000		935,213	0.1%
	Hop Hing Group Holdings, Ltd.	10,176,000		258,314	0.0%
	Hopewell Holdings, Ltd.	3,366,000		12,820,606	0.8%
#*	Hsin Chong Group Holdings, Ltd.	13,109,658		587,693	0.0%
#*	Huarong Investment Stock Corp., Ltd.	490,000		72,156	0.0%
*	Huisheng International Holdings, Ltd.	3,328,000		187,460	0.0%
	Hung Hing Printing Group, Ltd.	2,728,000		572,721	0.0%
	Hutchison Telecommunications Hong Kong Holdings, Ltd.	12,042,000		4,240,198	0.3%
*	I-CABLE Communications, Ltd.	4,761,000		298,696	0.0%
	IGG, Inc.	7,821,000		12,074,853	0.7%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
*	Imagi International Holdings, Ltd.	2,142,300	$	175,642	0.0%
*	International Standard Resources Holdings, Ltd.	15,485,250		146,747	0.0%
*	iOne Holdings, Ltd.	14,160,000		380,780	0.0%
	IPE Group, Ltd.	3,345,000		827,539	0.1%
#*	IRC, Ltd.	10,590,266		339,186	0.0%
	IT, Ltd.	4,344,532		2,142,790	0.1%
	ITC Properties Group, Ltd.	5,487,001		2,185,667	0.1%
*	Jinhui Holdings Co., Ltd.	102,000		14,088	0.0%
	Johnson Electric Holdings, Ltd.	2,358,750		8,198,460	0.5%
	Kader Holdings Co., Ltd.	92,000		8,590	0.0%
	Kam Hing International Holdings, Ltd.	1,830,000		121,940	0.0%
*	Kantone Holdings, Ltd.	919,364		68,295	0.0%
	Karrie International Holdings, Ltd.	1,878,000		302,919	0.0%
	Keck Seng Investments	878,600		753,308	0.1%
	Kerry Logistics Network, Ltd.	2,406,000		3,555,225	0.2%
	Kingmaker Footwear Holdings, Ltd.	1,914,955		536,831	0.0%
	Kingston Financial Group, Ltd.	119,000		42,971	0.0%
*	Kong Sun Holdings, Ltd.	6,275,000		298,196	0.0%
#	Kowloon Development Co., Ltd.	2,541,000		2,773,163	0.2%
*	Kwan On Holdings, Ltd.	2,340,000		494,463	0.0%
	Kwoon Chung Bus Holdings, Ltd.	44,000		25,868	0.0%
	L'Occitane International SA	807,000		1,857,192	0.1%
*	L'sea Resources International Holdings, Ltd.	5,480,000		68,644	0.0%
	Lai Sun Development Co., Ltd.	92,468,345		3,376,031	0.2%
	Lai Sun Garment International, Ltd.	3,347,156		1,361,970	0.1%
	Lam Soon Hong Kong, Ltd.	302,310		445,250	0.0%
#*	Landing International Development, Ltd.	264,680,000		2,613,526	0.2%
	Landsea Green Properties Co., Ltd.	948,000		77,705	0.0%
*	LEAP Holdings Group, Ltd.	5,160,000		139,348	0.0%
#	Li & Fung, Ltd.	1,860,000		676,480	0.0%
	Lifestyle International Holdings, Ltd.	2,133,500		2,929,010	0.2%
	Lippo China Resources, Ltd.	20,922,000		709,900	0.1%
	Lippo, Ltd.	1,161,700		701,931	0.1%
	Liu Chong Hing Investment, Ltd.	1,313,200		2,018,412	0.1%
	Luk Fook Holdings International, Ltd.	3,243,000		11,088,538	0.7%
	Luks Group Vietnam Holdings Co., Ltd.	514,913		167,548	0.0%
	Lung Kee Bermuda Holdings	1,609,875		731,977	0.1%
#*	Macau Legend Development, Ltd.	17,592,000		3,199,831	0.2%
	Magnificent Hotel Investment, Ltd.	13,170,000		396,427	0.0%
*	Man Sang International, Ltd.	132,000		7,777	0.0%
#	Man Wah Holdings, Ltd.	13,578,800		12,189,256	0.7%
#*	Mason Group Holdings, Ltd.	48,153,399		628,894	0.0%
#	Master Glory Group, Ltd.(BYTP1T9)	45,010,592		852,223	0.1%
#	Master Glory Group, Ltd.(BYTP1T9)	394,860		7,536	0.0%
	Matrix Holdings, Ltd.	1,067,414		387,715	0.0%
	Melbourne Enterprises, Ltd.	39,500		963,190	0.1%
	Melco International Development, Ltd.	5,011,000		13,406,264	0.8%
	Microport Scientific Corp.	133,000		106,137	0.0%
#*	Midland Holdings, Ltd.	5,182,000		1,399,610	0.1%
#*	Midland IC&I, Ltd.	2,591,000		137,723	0.0%
	Ming Fai International Holdings, Ltd.	2,148,000		341,436	0.0%
	Miramar Hotel & Investment	922,000		2,135,124	0.1%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	Modern Dental Group, Ltd.	214,000	$	85,196	0.0%
*	Mongolian Mining Corp.	12,498,000		280,279	0.0%
	NagaCorp, Ltd.	11,214,000		5,889,896	0.4%
	Nanyang Holdings, Ltd.	133,500		734,572	0.1%
	National Electronic Hldgs	2,668,600		372,712	0.0%
*	National United Resources Holdings, Ltd.	18,280,000		62,280	0.0%
*	Neo-Neon Holdings, Ltd.	2,337,500		266,224	0.0%
*	Neptune Group, Ltd.	1,105,000		48,140	0.0%
*	NetMind Financial Holdings, Ltd.	133,296,000		563,372	0.0%
*	New Century Group Hong Kong, Ltd.	13,351,464		239,505	0.0%
*	NEW Concepts Holdings, Ltd.	928,000		451,397	0.0%
*	New Times Energy Corp., Ltd.	8,918,600		296,909	0.0%
*	Newocean Energy Holdings, Ltd.	8,052,000		2,465,228	0.2%
*	Next Digital, Ltd.	4,295,183		178,953	0.0%
*	Nine Express, Ltd.	12,438,000		469,947	0.0%
*	O Luxe Holdings, Ltd.	11,674,500		1,361,280	0.1%
	On Time Logistics Holdings, Ltd.	784,000		358,958	0.0%
#	OP Financial Investments, Ltd.	828,000		271,442	0.0%
*	Orange Sky Golden Harvest Entertainment Holdings, Ltd.	9,759,706		1,111,966	0.1%
#*	Orient Overseas International, Ltd.	1,483,500		10,633,402	0.6%
#	Oriental Watch Holdings	3,070,800		668,230	0.0%
*	Pacific Andes International Holdings, Ltd.	19,435,067		68,207	0.0%
*	Pacific Basin Shipping, Ltd.	30,943,000		6,858,051	0.4%
*	Pacific Plywood Holdings, Ltd.	2,200,000		123,917	0.0%
#	Pacific Textiles Holdings, Ltd.	6,707,000		7,740,052	0.5%
	Pak Fah Yeow International, Ltd.	5,000		2,272	0.0%
	Paliburg Holdings, Ltd.	3,152,830		1,288,022	0.1%
*	Pan Asia Environmental Protection Group, Ltd.	214,000		22,180	0.0%
#*	Paradise Entertainment, Ltd.	3,652,000		552,337	0.0%
*	Pearl Oriental Oil, Ltd.	11,849,400		308,147	0.0%
*	Pegasus Entertainment Holdings, Ltd.	664,000		17,541	0.0%
	Pegasus International Holdings, Ltd.	226,000		31,133	0.0%
	Perfect Shape Beauty Technology, Ltd.	1,172,000		117,150	0.0%
#	Pico Far East Holdings, Ltd.	5,578,000		2,335,700	0.1%
	Playmates Holdings, Ltd.	6,920,000		1,018,754	0.1%
	Playmates Toys, Ltd.	6,208,000		1,129,099	0.1%
#	Pokfulam Development Co.	234,000		503,166	0.0%
	Polytec Asset Holdings, Ltd.	11,323,526		900,524	0.1%
	PT International Development Co., Ltd.	2,839,150		142,292	0.0%
	Public Financial Holdings, Ltd.	3,102,000		1,410,479	0.1%
	PuraPharm Corp., Ltd.	137,000		64,795	0.0%
*	PYI Corp., Ltd.	24,147,973		494,505	0.0%
*	Qianhai Health Holdings, Ltd.	157,499		1,512	0.0%
	Raymond Industrial, Ltd.	30,400		4,185	0.0%
#	Regal Hotels International Holdings, Ltd.	2,871,800		2,519,162	0.2%
*	Regent Pacific Group, Ltd.	1,470,000		54,618	0.0%
#	Regina Miracle International Holdings, Ltd.	1,401,000		1,211,075	0.1%
#*	Rentian Technology Holdings, Ltd.	11,250,000		561,707	0.0%
*	Runway Global Holdings Co., Ltd.	588,000		87,370	0.0%
	SA SA International Holdings, Ltd.	11,234,688		4,430,848	0.3%
	Safety Godown Co., Ltd.	400,000		959,017	0.1%
	SAS Dragon Holdings, Ltd.	2,120,000		610,686	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
#	SEA Holdings, Ltd.	1,172,000	$	1,497,848	0.1%
*	SEEC Media Group, Ltd.	6,100,000		27,365	0.0%
	Shangri-La Asia, Ltd.	140,000		237,438	0.0%
#	Shenwan Hongyuan HK, Ltd.	4,201,250		1,620,669	0.1%
*	Shougang Concord Grand Group, Ltd.	1,158,000		33,819	0.0%
	Shun Ho Property Investments, Ltd.	1,254,757		483,641	0.0%
*	Shun Tak Holdings, Ltd.	13,985,419		6,430,625	0.4%
*	Silver base Group Holdings, Ltd.	3,641,515		237,921	0.0%
*	Sincere Watch Hong Kong, Ltd.	4,450,000		98,149	0.0%
	Sing Tao News Corp., Ltd.	1,974,000		247,761	0.0%
#*	Singamas Container Holdings, Ltd.	11,510,000		1,783,489	0.1%
	SIS International Holdings	34,000		18,698	0.0%
	SITC International Holdings Co., Ltd.	2,029,000		1,594,643	0.1%
#	Sitoy Group Holdings, Ltd.	1,463,000		331,443	0.0%
	Sky Light Holdings, Ltd.	304,000		66,505	0.0%
	SmarTone Telecommunications Holdings, Ltd.	3,918,031		5,129,173	0.3%
*	SOCAM Development, Ltd.	1,744,771		457,719	0.0%
*	Solartech International Holdings, Ltd.	11,520,000		627,841	0.0%
*	Solomon Systech International, Ltd.	10,100,000		491,916	0.0%
	Soundwill Holdings, Ltd.	596,500		1,442,367	0.1%
*	South China Assets Holdings, Ltd.	1,679,170		12,080	0.0%
*	South China Financial Holdings, Ltd.	18,650,000		136,235	0.0%
*	South China Holdings Co., Ltd.	17,774,503		694,222	0.0%
	Stella International Holdings, Ltd.	1,774,000		3,183,606	0.2%
*	Stelux Holdings International, Ltd.	3,011,400		251,023	0.0%
	Strong Petrochemical Holdings, Ltd.	1,928,000		175,255	0.0%
*	Success Universe Group, Ltd.	6,716,000		184,942	0.0%
#*	Summit Ascent Holdings, Ltd.	3,490,000		768,601	0.1%
	Sun Hing Vision Group Holdings, Ltd.	358,000		143,159	0.0%
	Sun Hung Kai & Co., Ltd.	4,771,429		3,073,102	0.2%
*	Suncorp Technologies, Ltd.	1,970,000		6,306	0.0%
	Sunwah Kingsway Capital Holdings, Ltd.	7,690,000		113,289	0.0%
	TAI Cheung Holdings, Ltd.	2,114,000		2,246,878	0.1%
	Tai Sang Land Development, Ltd.	781,910		535,614	0.0%
*	Talent Property Group, Ltd.	14,355,000		194,968	0.0%
#	Tan Chong International, Ltd.	1,176,000		353,996	0.0%
	Tao Heung Holdings, Ltd.	1,166,000		289,757	0.0%
	Television Broadcasts, Ltd.	2,183,300		8,223,046	0.5%
*	Termbray Industries International Holdings, Ltd.	2,304,900		230,108	0.0%
	Tern Properties Co., Ltd.	51,200		31,309	0.0%
#	Texwinca Holdings, Ltd.	6,986,000		4,241,130	0.3%
	Tian Teck Land, Ltd.	1,024,000		1,165,341	0.1%
	TK Group Holdings, Ltd.	172,000		69,987	0.0%
*	Tom Group, Ltd.	858,000		209,871	0.0%
#	Town Health International Medical Group, Ltd.	4,318,000		376,132	0.0%
#	Tradelink Electronic Commerce, Ltd.	5,670,000		1,052,905	0.1%
#	Transport International Holdings, Ltd.	1,306,141		4,223,519	0.3%
#*	Trinity, Ltd.	8,046,000		499,686	0.0%
*	TSC Group Holdings, Ltd.	3,386,000		294,853	0.0%
#	Tsui Wah Holdings, Ltd.	1,840,000		285,094	0.0%
#*	United Laboratories International Holdings, Ltd. (The)	5,776,000		3,809,841	0.2%
*	Universal Technologies Holdings, Ltd.	7,410,000		270,977	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
*	Up Energy Development Group, Ltd.	3,929,000	$	12,178	0.0%
	Upbest Group, Ltd.	72,000		11,184	0.0%
*	Value Convergence Holdings, Ltd.	3,280,000		466,560	0.0%
#	Value Partners Group, Ltd.	1,896,000		1,725,820	0.1%
	Vanke Property Overseas, Ltd.	49,000		30,973	0.0%
	Vantage International Holdings, Ltd.	3,160,000		449,692	0.0%
	Varitronix International, Ltd.	2,769,293		1,521,321	0.1%
	Vedan International Holdings, Ltd.	3,576,000		398,534	0.0%
	Victory City International Holdings, Ltd.	24,573,660		881,532	0.1%
	Vitasoy International Holdings, Ltd.	5,585,000		11,495,843	0.7%
*	VS International Group, Ltd.	488,000		18,454	0.0%
#	VST Holdings, Ltd.	5,221,600		1,580,311	0.1%
	VTech Holdings, Ltd.	854,500		13,536,044	0.8%
	Wai Kee Holdings, Ltd.	7,640,738		3,355,349	0.2%
	Wang On Group, Ltd.	5,160,000		48,248	0.0%
	Win Hanverky Holdings, Ltd.	2,734,000		381,739	0.0%
*	Winfull Group Holdings, Ltd.	9,512,000		235,364	0.0%
	Wing On Co. International, Ltd.	759,000		2,493,493	0.2%
	Wing Tai Properties, Ltd.	1,993,331		1,335,029	0.1%
	Wonderful Sky Financial Group Holdings, Ltd.	898,000		239,184	0.0%
	Wong's International Holdings, Ltd.	737,641		332,970	0.0%
	Wong's Kong King International	322,000		33,815	0.0%
	Xinyi Glass Holdings, Ltd.	17,658,000		17,478,320	1.0%
	Yangtzekiang Garment, Ltd.	606,500		229,126	0.0%
*	Yat Sing Holdings, Ltd.	190,000		83,484	0.0%
*	Yau Lee Holdings, Ltd.	424,000		65,419	0.0%
#	Yeebo International Holdings, Ltd.	2,922,000		1,382,462	0.1%
	YGM Trading, Ltd.	447,000		419,982	0.0%
*	YT Realty Group, Ltd.	749,000		239,714	0.0%
	Yugang International, Ltd.	90,818,000		2,245,787	0.1%
TOTAL HONG KONG				496,210,533	29.0%
NEW ZEALAND — (7.0%)
#*	a2 Milk Co., Ltd.	2,469,247		7,240,338	0.4%
	Abano Healthcare Group, Ltd.	30,725		210,692	0.0%
	Air New Zealand, Ltd.	3,693,701		8,825,739	0.5%
	Arvida Group, Ltd.	87,109		85,564	0.0%
	Briscoe Group, Ltd.	2,235		6,436	0.0%
	CBL Corp., Ltd.	10,545		25,875	0.0%
	Chorus, Ltd.	2,223,591		7,545,216	0.4%
	Colonial Motor Co., Ltd. (The)	144,588		820,619	0.1%
	Comvita, Ltd.	2,780		11,815	0.0%
	Contact Energy, Ltd.	1,819,621		6,946,990	0.4%
	EBOS Group, Ltd.	451,590		5,794,189	0.3%
	Evolve Education Group, Ltd.	36,611		25,764	0.0%
#	Freightways, Ltd.	974,609		5,472,056	0.3%
	Genesis Energy, Ltd.	1,219,140		2,171,142	0.1%
	Gentrack Group, Ltd.	20,725		73,972	0.0%
	Hallenstein Glasson Holdings, Ltd.	242,445		536,702	0.0%
	Heartland Bank, Ltd.	1,040,255		1,356,540	0.1%
	Infratil, Ltd.	3,268,694		7,125,101	0.4%
	Investore Property, Ltd.	22,938		23,196	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
NEW ZEALAND — (Continued)
	Kathmandu Holdings, Ltd.	715,217	$	1,069,407	0.1%
#	Mainfreight, Ltd.	539,049		9,282,677	0.6%
	Methven, Ltd.	96,877		80,234	0.0%
	Metlifecare, Ltd.	600,280		2,362,469	0.1%
#	Metro Performance Glass, Ltd.	49,156		49,714	0.0%
	Millennium & Copthorne Hotels New Zealand, Ltd.	395,725		809,045	0.1%
*	New Zealand Oil & Gas, Ltd.	829,896		380,092	0.0%
	New Zealand Refining Co., Ltd. (The)	616,799		1,103,460	0.1%
#	NZME, Ltd.	945,851		646,795	0.0%
#	NZX, Ltd.	952,265		782,976	0.1%
	Opus International Consultants, Ltd.	12,925		9,564	0.0%
*	Orion Health Group, Ltd.	4,001		3,751	0.0%
*	Pacific Edge, Ltd.	442,720		165,426	0.0%
	PGG Wrightson, Ltd.	999,976		424,743	0.0%
#	Port of Tauranga, Ltd.	2,576,525		8,404,908	0.5%
	Restaurant Brands New Zealand, Ltd.	593,355		2,722,115	0.2%
*	Rubicon, Ltd.	1,442,620		243,596	0.0%
#	Ryman Healthcare, Ltd.	1,262,823		7,672,289	0.5%
	Sanford, Ltd.	382,357		1,961,589	0.1%
	Scales Corp., Ltd.	74,965		182,439	0.0%
	Scott Technology, Ltd.	45,734		103,172	0.0%
#	Skellerup Holdings, Ltd.	563,985		702,496	0.0%
#	SKY Network Television, Ltd.	2,080,268		5,260,001	0.3%
	SKYCITY Entertainment Group, Ltd.	5,292,424		15,829,077	0.9%
	Steel & Tube Holdings, Ltd.	441,625		819,354	0.1%
	Summerset Group Holdings, Ltd.	824,827		2,870,661	0.2%
	Tilt Renewables, Ltd.	87,581		130,277	0.0%
	Tourism Holdings, Ltd.	387,215		1,191,954	0.1%
#*	Tower, Ltd.	887,040		845,409	0.1%
	Trade Me Group, Ltd.	1,783,440		6,965,530	0.4%
	Trustpower, Ltd.	145,712		579,718	0.0%
	Vector, Ltd.	1,381,288		3,369,917	0.2%
	Warehouse Group, Ltd. (The)	698,604		1,049,726	0.1%
*	Xero, Ltd.	204,892		3,784,236	0.2%
	Z Energy, Ltd.	365,111		2,113,512	0.1%
TOTAL NEW ZEALAND				138,270,275	8.1%
SINGAPORE — (10.4%)
*	Abterra, Ltd.	531,800		114,820	0.0%
	Accordia Golf Trust	3,173,100		1,647,716	0.1%
	AEM Holdings, Ltd.	9,900		15,382	0.0%
#	Amara Holdings, Ltd.	974,800		368,153	0.0%
	Ascendas India Trust	1,507,400		1,242,835	0.1%
*	ASL Marine Holdings, Ltd.	148,950		13,864	0.0%
	Baker Technology, Ltd.	289,580		129,351	0.0%
*	Banyan Tree Holdings, Ltd.	1,022,900		378,691	0.0%
#	Best World International, Ltd.	2,067,250		2,132,391	0.1%
	Bonvests Holdings, Ltd.	950,000		897,168	0.1%
*	Boustead Projects, Ltd.	497,612		332,494	0.0%
	Boustead Singapore, Ltd.	1,827,636		1,167,801	0.1%
	Breadtalk Group, Ltd.	894,200		970,851	0.1%
	Broadway Industrial Group, Ltd.	370,330		35,197	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SINGAPORE — (Continued)
#	Bukit Sembawang Estates, Ltd.	709,203	$	3,384,214	0.2%
	Bund Center Investment, Ltd.	659,825		378,303	0.0%
#	Centurion Corp., Ltd.	825,900		293,884	0.0%
#	China Aviation Oil Singapore Corp., Ltd.	2,336,199		2,832,910	0.2%
	China Sunsine Chemical Holdings, Ltd.	172,500		96,323	0.0%
	Chip Eng Seng Corp., Ltd.	3,445,300		1,814,601	0.1%
	Chuan Hup Holdings, Ltd.	3,853,500		742,567	0.1%
	CITIC Envirotech, Ltd.	362,200		191,874	0.0%
*	Cityneon Holdings, Ltd.	248,300		175,822	0.0%
	Civmec, Ltd.	162,700		73,252	0.0%
#*	COSCO Shipping International Singapore Co., Ltd.	8,095,300		1,613,809	0.1%
*	Creative Technology, Ltd.	272,200		192,822	0.0%
	CSE Global, Ltd.	3,443,600		1,075,144	0.1%
#	CWT, Ltd.	1,799,000		2,912,170	0.2%
#	Del Monte Pacific, Ltd.	2,363,364		557,423	0.0%
#	Delfi, Ltd.	788,500		1,146,086	0.1%
*	DMX Technologies Group, Ltd.	2,096,000		30,261	0.0%
	Duty Free International, Ltd.	132,000		32,097	0.0%
*	Dyna-Mac Holdings, Ltd.	2,007,300		203,837	0.0%
	Elec & Eltek International Co., Ltd.	154,800		232,204	0.0%
	EnGro Corp., Ltd.	354,000		239,804	0.0%
#*	Ezion Holdings, Ltd.	12,591,378		2,146,410	0.1%
#*	Ezra Holdings, Ltd.	19,242,923		153,748	0.0%
*	Falcon Energy Group, Ltd.	1,738,500		59,310	0.0%
	Far East Orchard, Ltd.	1,085,585		1,238,494	0.1%
#	First Resources, Ltd.	4,935,500		6,793,700	0.4%
*	First Ship Lease Trust	160,900		9,125	0.0%
	First Sponsor Group, Ltd.	440,661		422,534	0.0%
#	Food Empire Holdings, Ltd.	1,418,200		690,085	0.0%
	Fragrance Group, Ltd.	6,077,000		741,590	0.1%
	Frasers Centrepoint, Ltd.	516,700		705,637	0.0%
	Frencken Group, Ltd.	59,800		20,861	0.0%
	Fu Yu Corp., Ltd.	1,622,200		232,843	0.0%
#*	Gallant Venture, Ltd.	4,992,500		495,812	0.0%
#	Geo Energy Resources, Ltd.	2,250,300		408,585	0.0%
	GK Goh Holdings, Ltd.	1,484,065		1,003,847	0.1%
	GL, Ltd.	3,401,300		1,765,672	0.1%
	Golden Agri-Resources, Ltd.	22,363,500		6,091,286	0.4%
*	Golden Energy & Resources, Ltd.	148,900		43,253	0.0%
	GP Batteries International, Ltd.	235,000		140,944	0.0%
	GP Industries, Ltd.	2,567,609		1,130,104	0.1%
	GSH Corp., Ltd.	60,860		22,546	0.0%
#	GuocoLand, Ltd.	1,036,614		1,422,466	0.1%
#*	Halcyon Agri Corp., Ltd.	1,695,148		701,737	0.0%
	Hanwell Holdings, Ltd.	1,842,619		434,497	0.0%
#	Haw Par Corp., Ltd.	56,000		455,280	0.0%
#	Health Management International, Ltd.	1,405,730		689,081	0.0%
	Hi-P International, Ltd.	1,271,600		844,779	0.1%
#	Hiap Hoe, Ltd.	498,000		253,115	0.0%
	Ho Bee Land, Ltd.	1,604,700		2,727,514	0.2%
	Hong Fok Corp., Ltd.	3,551,394		2,037,387	0.1%
	Hong Leong Asia, Ltd.	716,300		569,896	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SINGAPORE — (Continued)
	Hong Leong Finance, Ltd.	176,700	$	337,645	0.0%
	Hotel Grand Central, Ltd.	1,461,261		1,438,377	0.1%
	Hour Glass, Ltd. (The)	1,814,832		882,501	0.1%
	Hutchison Port Holdings Trust	3,377,900		1,451,298	0.1%
	Hwa Hong Corp., Ltd.	2,123,500		477,174	0.0%
	Hyflux, Ltd.	3,262,300		1,303,671	0.1%
	Indofood Agri Resources, Ltd.	3,432,100		1,197,544	0.1%
	InnoTek, Ltd.	408,900		108,450	0.0%
*	IPC Corp., Ltd.	225,970		67,007	0.0%
	Isetan Singapore, Ltd.	119,000		348,250	0.0%
#	Japfa, Ltd.	2,179,700		1,020,429	0.1%
#	k1 Ventures, Ltd.	1,005,220		466,998	0.0%
	Keppel Infrastructure Trust	8,675,332		3,561,073	0.2%
	Keppel Telecommunications & Transportation, Ltd.	1,369,300		1,725,495	0.1%
	Koh Brothers Group, Ltd.	1,432,000		300,654	0.0%
#*	KrisEnergy, Ltd.	1,190,300		92,386	0.0%
	KSH Holdings, Ltd.	269,200		178,859	0.0%
	Lian Beng Group, Ltd.	2,253,500		981,521	0.1%
	Low Keng Huat Singapore, Ltd.	889,800		413,724	0.0%
	Lum Chang Holdings, Ltd.	1,094,030		278,103	0.0%
#	M1, Ltd.	2,667,000		4,221,959	0.3%
#	Mandarin Oriental International, Ltd.	279,200		558,238	0.0%
*	Mermaid Maritime PCL	274,000		32,623	0.0%
#	Metro Holdings, Ltd.	2,769,292		2,383,031	0.1%
	Mewah International, Inc.	89,000		18,764	0.0%
*	Midas Holdings, Ltd.	8,558,700		1,398,144	0.1%
*	Nam Cheong, Ltd.	6,557,040		99,778	0.0%
	Nera Telecommunications, Ltd.	1,143,400		315,445	0.0%
	New Toyo International Holdings, Ltd.	1,624,000		330,020	0.0%
#*	Noble Group, Ltd.	7,518,480		2,538,469	0.2%
	NSL, Ltd.	409,900		432,919	0.0%
	Olam International, Ltd.	317,100		449,226	0.0%
	OUE, Ltd.	1,996,500		2,842,253	0.2%
#	Overseas Education, Ltd.	65,300		18,499	0.0%
#	Oxley Holdings, Ltd.	2,187,900		921,826	0.1%
#*	Pacc Offshore Services Holdings, Ltd.	516,900		108,839	0.0%
#	Pan-United Corp., Ltd.	1,948,600		779,372	0.1%
*	Penguin International, Ltd.	446,032		82,637	0.0%
	Perennial Real Estate Holdings, Ltd.	117,100		74,836	0.0%
#	Q&M Dental Group Singapore, Ltd.	2,188,300		1,072,746	0.1%
	QAF, Ltd.	1,359,162		1,253,640	0.1%
*	Raffles Education Corp., Ltd.	4,176,710		582,479	0.0%
#	Raffles Medical Group, Ltd.	4,704,473		4,579,251	0.3%
	RHT Health Trust	3,098,700		2,013,155	0.1%
#	Riverstone Holdings, Ltd.	1,156,600		844,126	0.1%
	Rotary Engineering, Ltd.	1,499,400		397,477	0.0%
#*	Rowsley, Ltd.	4,411,200		227,444	0.0%
	Roxy-Pacific Holdings, Ltd.	297,500		116,911	0.0%
	San Teh, Ltd.	171,787		27,386	0.0%
	SATS, Ltd.	1,090,400		4,045,026	0.2%
	SBS Transit, Ltd.	926,200		1,755,816	0.1%
#	SembCorp Industries, Ltd.	3,431,700		7,671,708	0.5%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SINGAPORE — (Continued)
#	SembCorp Marine, Ltd.	3,825,900	$	4,567,215	0.3%
	Sheng Siong Group, Ltd.	4,266,400		3,067,953	0.2%
#	SHS Holdings, Ltd.	2,304,100		367,948	0.0%
	SIA Engineering Co., Ltd.	250,100		741,030	0.0%
#	SIIC Environment Holdings, Ltd.	4,602,820		1,738,340	0.1%
#	Sinarmas Land, Ltd.	6,897,100		2,155,031	0.1%
	Sing Holdings, Ltd.	1,150,700		296,570	0.0%
	Sing Investments & Finance, Ltd.	309,475		330,443	0.0%
#	Singapore Post, Ltd.	10,740,900		10,375,752	0.6%
	Singapore Reinsurance Corp., Ltd.	1,514,530		351,260	0.0%
	Singapore Shipping Corp., Ltd.	1,640,700		321,583	0.0%
	Singapura Finance, Ltd.	348,124		264,186	0.0%
#	Sino Grandness Food Industry Group, Ltd.	4,336,435		771,037	0.1%
	Stamford Land Corp., Ltd.	3,188,100		1,180,670	0.1%
#	StarHub, Ltd.	1,826,100		3,607,802	0.2%
	Straco Corp., Ltd.	130,000		83,086	0.0%
	Sunningdale Tech, Ltd.	881,360		1,114,325	0.1%
*	SunVic Chemical Holdings, Ltd.	1,137,845		81,629	0.0%
#*	Swiber Holdings, Ltd.	2,895,250		42,900	0.0%
*	Tat Hong Holdings, Ltd.	2,662,560		697,882	0.0%
	Tiong Woon Corp. Holding, Ltd.	228,100		38,819	0.0%
#	Tuan Sing Holdings, Ltd.	4,252,495		989,813	0.1%
	UMS Holdings, Ltd.	2,656,700		1,940,361	0.1%
	United Engineers, Ltd.	3,318,328		6,604,023	0.4%
#	United Industrial Corp., Ltd.	167,752		386,069	0.0%
	United Overseas Insurance, Ltd.	181,850		731,358	0.0%
	UOB-Kay Hian Holdings, Ltd.	2,008,761		1,970,042	0.1%
	UOL Group, Ltd.	2,110,717		11,711,129	0.7%
#	UPP Holdings, Ltd.	3,076,900		603,578	0.0%
	Valuetronics Holdings, Ltd.	1,915,950		1,105,739	0.1%
	Venture Corp., Ltd.	1,994,100		17,454,768	1.0%
	Vibrant Group, Ltd.	1,974,019		544,108	0.0%
	Vicom, Ltd.	119,500		493,016	0.0%
	Wee Hur Holdings, Ltd.	2,670,400		445,954	0.0%
#	Wheelock Properties Singapore, Ltd.	1,926,400		2,623,040	0.2%
	Wing Tai Holdings, Ltd.	3,573,667		5,167,215	0.3%
#	Yeo Hiap Seng, Ltd.	223,731		211,113	0.0%
	YHI International, Ltd.	176,200		44,529	0.0%
*	Yongnam Holdings, Ltd.	2,977,200		443,227	0.0%
	Zhongmin Baihui Retail Group, Ltd.	26,900		20,605	0.0%
TOTAL SINGAPORE				206,628,609	12.0%
TOTAL COMMON STOCKS				1,705,504,035	99.6%
RIGHTS/WARRANTS — (0.0%)
AUSTRALIA — (0.0%)
*	Centrebet International, Ltd. Claim Units Rights	81,336		—	0.0%
*	Centrebet International, Ltd. Litigation Rights	81,336		—	0.0%
*	Collins Foods, Ltd. Rights 07/12/17	46,387		—	0.0%
*	Link Administration Holdings, Ltd. Rights 07/17/17	253,844		223,395	0.0%
TOTAL AUSTRALIA				223,395	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (0.0%)
*	Cheuk Nang Holdings, Ltd. Rights 06/21/18	24,412	$	3,127	0.0%
*	International Standard Resources Holdings, Ltd. Warrants 05/10/18	3,097,050		5,553	0.0%
TOTAL HONG KONG				8,680	0.0%
NEW ZEALAND — (0.0%)
*	Orion Health Group, Ltd. Rights 06/29/17	889		248	0.0%
SINGAPORE — (0.0%)
*	Duty Free International, Ltd. Rights 05/13/22	17,080		372	0.0%
*	Pan-United Corp., Ltd. Rights 07/12/17	487,150		39,630	0.0%
TOTAL SINGAPORE				40,002	0.0%
TOTAL RIGHTS/WARRANTS				272,325	0.0%
MUTUAL FUNDS — (0.0%)
AUSTRALIA — (0.0%)
	Qube Logistics Mutual Fund	119,428		241,414	0.0%
TOTAL INVESTMENT SECURITIES				1,706,017,774
			Value†
SECURITIES LENDING COLLATERAL — (14.1%)
§@	DFA Short Term Investment Fund	24,154,117		279,511,440	16.3%
TOTAL INVESTMENTS — (100.0%) (Cost $1,963,290,264)^			$	1,985,536,391	115.9%

THE UNITED KINGDOM SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

June 30, 2017
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (96.6%)
Consumer Discretionary — (19.6%)
	4imprint Group P.L.C.	100,984	$	2,210,137	0.1%
	888 Holdings P.L.C.	1,003,090		3,331,300	0.2%
	AA P.L.C.	3,246,551		9,646,817	0.5%
	B&M European Value Retail SA	3,475,343		15,343,271	0.7%
	Bellway P.L.C.	669,602		25,983,899	1.2%
	Berkeley Group Holdings P.L.C.	262,704		11,046,575	0.5%
	Bloomsbury Publishing P.L.C.	290,057		628,896	0.0%
	Bovis Homes Group P.L.C.	921,633		11,475,164	0.5%
	Card Factory P.L.C.	1,013,934		3,929,746	0.2%
*	Carpetright P.L.C.	95,402		232,191	0.0%
#	Centaur Media P.L.C.	537,905		336,636	0.0%
	Cineworld Group P.L.C.	1,228,419		11,227,228	0.5%
	Connect Group P.L.C.	1,312,384		1,922,139	0.1%
	Crest Nicholson Holdings P.L.C.	1,645,218		11,227,994	0.5%
	Daily Mail & General Trust P.L.C.	1,314,134		11,420,129	0.5%
	Debenhams P.L.C.	6,862,458		3,873,088	0.2%
	DFS Furniture P.L.C.	323,708		866,738	0.0%
	Dignity P.L.C.	251,989		8,174,040	0.4%
	Dixons Carphone P.L.C.	2,697,016		9,969,964	0.5%
	Domino's Pizza Group P.L.C.	2,536,833		9,709,371	0.5%
	Dunelm Group P.L.C.	384,367		3,017,002	0.1%
*	EI Group P.L.C.	3,243,847		5,427,870	0.3%
	Entertainment One, Ltd.	1,165,248		3,346,304	0.2%
	Euromoney Institutional Investor P.L.C.	282,895		3,951,210	0.2%
*	Findel P.L.C.	239,314		623,845	0.0%
	Fuller Smith & Turner P.L.C. Class A	135,207		1,878,600	0.1%
*	Future P.L.C.	52,125		180,257	0.0%
	Games Workshop Group P.L.C.	106,626		1,666,515	0.1%
	Greene King P.L.C.	1,786,209		15,676,299	0.7%
	Greggs P.L.C.	567,823		7,980,284	0.4%
	GVC Holdings P.L.C.	1,279,231		12,607,286	0.6%
#	Gym Group P.L.C. (The)	182,374		446,738	0.0%
	Halfords Group P.L.C.	1,197,635		5,334,893	0.3%
	Headlam Group P.L.C.	441,820		3,096,680	0.1%
	Henry Boot P.L.C.	417,992		1,652,048	0.1%
	Hostelworld Group P.L.C.	31,199		140,809	0.0%
	Huntsworth P.L.C.	970,321		731,281	0.0%
	Inchcape P.L.C.	2,190,976		21,536,970	1.0%
	ITE Group P.L.C.	1,532,231		3,076,238	0.1%
#	J D Wetherspoon P.L.C.	481,928		6,124,421	0.3%
#*	Jackpotjoy P.L.C.	57,672		512,340	0.0%
	JD Sports Fashion P.L.C.	2,325,390		10,592,300	0.5%
*	Jimmy Choo P.L.C.	316,174		856,264	0.0%
	John Menzies P.L.C.	476,310		4,365,682	0.2%
	Ladbrokes Coral Group P.L.C.	5,357,119		7,988,567	0.4%
#	Laura Ashley Holdings P.L.C.	1,465,488		217,117	0.0%
	Lookers P.L.C.	1,876,000		2,791,076	0.1%
	Marston's P.L.C.	3,644,221		5,793,791	0.3%
	McCarthy & Stone P.L.C.	1,410,077		3,023,156	0.1%
	Millennium & Copthorne Hotels P.L.C.	1,000,376		5,769,598	0.3%
	Mitchells & Butlers P.L.C.	1,157,232		3,473,402	0.2%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	MJ Gleeson P.L.C.	189,171	$	1,528,708	0.1%
#*	Mothercare P.L.C.	683,942		1,025,781	0.1%
	N Brown Group P.L.C.	979,885		3,962,019	0.2%
#*	Ocado Group P.L.C.	2,584,145		9,725,884	0.5%
	On the Beach Group P.L.C.	3,760		19,115	0.0%
	Pendragon P.L.C.	6,872,682		2,782,044	0.1%
#	Pets at Home Group P.L.C.	1,313,073		2,764,068	0.1%
	Photo-Me International P.L.C.	1,188,523		2,565,943	0.1%
*	Punch Taverns P.L.C.	133,442		310,703	0.0%
	Rank Group P.L.C.	778,257		2,409,760	0.1%
	Redrow P.L.C.	1,386,677		9,883,202	0.5%
	Restaurant Group P.L.C. (The)	1,177,060		5,022,056	0.2%
*	Sportech P.L.C.	396,817		551,881	0.0%
#*	Sports Direct International P.L.C.	1,243,765		4,718,661	0.2%
	SSP Group P.L.C.	1,668,060		10,335,138	0.5%
	STV Group P.L.C.	4,868		24,311	0.0%
	SuperGroup P.L.C.	289,877		5,644,324	0.3%
	Tarsus Group P.L.C.	207,820		752,494	0.0%
	Ted Baker P.L.C.	153,478		4,774,681	0.2%
	Thomas Cook Group P.L.C.	8,687,680		10,178,500	0.5%
	Topps Tiles P.L.C.	925,429		994,914	0.1%
	Trinity Mirror P.L.C.	1,714,822		2,191,719	0.1%
	UBM P.L.C.	2,081,478		18,705,781	0.9%
	Vitec Group P.L.C. (The)	162,558		2,159,525	0.1%
	WH Smith P.L.C.	680,498		15,189,711	0.7%
	William Hill P.L.C.	4,381,360		14,520,545	0.7%
Total Consumer Discretionary				429,175,634	20.1%
Consumer Staples — (4.8%)
	A.G. Barr P.L.C.	668,022		5,354,294	0.2%
#	Anglo-Eastern Plantations P.L.C.	104,452		1,107,162	0.1%
	Booker Group P.L.C.	8,370,700		20,299,403	1.0%
	Britvic P.L.C.	1,321,646		11,912,252	0.6%
	Cranswick P.L.C.	273,880		10,009,197	0.5%
#	Dairy Crest Group P.L.C.	841,204		6,553,289	0.3%
	Devro P.L.C.	930,843		2,506,641	0.1%
	Greencore Group P.L.C.	3,643,038		11,676,682	0.5%
	Hilton Food Group P.L.C.	51,091		490,964	0.0%
	McBride P.L.C.	1,043,698		2,545,742	0.1%
	McColl's Retail Group P.L.C.	42,133		110,022	0.0%
*	Premier Foods P.L.C.	4,724,268		2,494,678	0.1%
	PZ Cussons P.L.C.	1,524,870		6,807,920	0.3%
*	REA Holdings P.L.C.	50,639		216,960	0.0%
	Stock Spirits Group P.L.C.	768,228		1,697,062	0.1%
	Tate & Lyle P.L.C.	2,479,497		21,369,224	1.0%
Total Consumer Staples				105,151,492	4.9%
Energy — (3.9%)
	Amec Foster Wheeler P.L.C.	2,037,469		12,411,144	0.6%
	Anglo Pacific Group P.L.C.	798,827		1,150,976	0.1%
*	Cairn Energy P.L.C.	3,678,960		8,259,950	0.4%
#*	EnQuest P.L.C.	6,129,232		2,538,894	0.1%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Energy — (Continued)
*	Gulf Keystone Petroleum, Ltd.	184,232	$	232,632	0.0%
	Gulf Marine Services P.L.C.	122,883		88,130	0.0%
*	Hunting P.L.C.	892,983		5,679,434	0.3%
	James Fisher & Sons P.L.C.	266,068		5,652,805	0.3%
	John Wood Group P.L.C.	1,951,303		16,303,499	0.7%
*	Lamprell P.L.C.	1,147,970		1,528,674	0.1%
*	Nostrum Oil & Gas P.L.C.	104,053		655,445	0.0%
*	Ophir Energy P.L.C.	4,544,480		5,033,155	0.2%
	Petrofac, Ltd.	1,280,913		7,365,211	0.3%
#*	Premier Oil P.L.C.	3,029,094		1,977,521	0.1%
	Soco International P.L.C.	1,239,300		1,881,514	0.1%
	Stobart Group, Ltd.	1,086,251		4,192,480	0.2%
#*	Tullow Oil P.L.C.	5,659,078		11,124,625	0.5%
Total Energy				86,076,089	4.0%
Financials — (14.9%)
	Aberdeen Asset Management P.L.C.	3,284,338		12,930,761	0.6%
*	Aldermore Group P.L.C.	912,985		2,584,744	0.1%
	Arrow Global Group P.L.C.	875,246		4,619,925	0.2%
	Ashmore Group P.L.C.	1,963,444		9,037,258	0.4%
	Beazley P.L.C.	2,787,563		17,729,775	0.8%
	BGEO Group P.L.C.	228,246		10,383,508	0.5%
	Brewin Dolphin Holdings P.L.C.	1,582,577		7,061,691	0.3%
	Charles Stanley Group P.L.C.	122,025		572,082	0.0%
	Charles Taylor P.L.C.	192,071		600,314	0.0%
	Chesnara P.L.C.	678,516		3,415,456	0.2%
	Close Brothers Group P.L.C.	804,103		15,816,439	0.7%
	CMC Markets P.L.C.	128,396		238,880	0.0%
*	CYBG P.L.C.	1,554,756		5,592,514	0.3%
	esure Group P.L.C.	1,478,561		5,796,186	0.3%
	Hansard Global P.L.C.	16,468		19,296	0.0%
	Hastings Group Holdings P.L.C.	522,252		2,134,527	0.1%
	Hiscox, Ltd.	1,520,623		25,107,822	1.2%
	IG Group Holdings P.L.C.	1,792,534		13,269,207	0.6%
	Intermediate Capital Group P.L.C.	1,411,465		15,306,460	0.7%
	International Personal Finance P.L.C.	1,103,829		2,425,812	0.1%
*	IP Group P.L.C.(BZ3T570)	140,181		—	0.0%
#*	IP Group P.L.C.(B128J45)	1,822,358		3,207,006	0.2%
#*	Janus Henderson Group P.L.C.	562,840		18,861,129	0.9%
	Jardine Lloyd Thompson Group P.L.C.	644,796		10,075,615	0.5%
	Jupiter Fund Management P.L.C.	2,227,194		14,648,625	0.7%
	Just Group P.L.C.	1,860,415		3,090,372	0.1%
	Lancashire Holdings, Ltd.	1,128,968		10,252,553	0.5%
	Man Group P.L.C.	9,049,878		18,261,486	0.9%
	NEX Group P.L.C.	1,643,215		13,371,592	0.6%
	Novae Group P.L.C.	324,392		2,408,488	0.1%
#	OneSavings Bank P.L.C.	674,762		3,292,104	0.2%
	Paragon Group of Cos. P.L.C. (The)	1,515,170		8,428,109	0.4%
	Phoenix Group Holdings	1,858,807		18,770,918	0.9%
	Rathbone Brothers P.L.C.	236,345		7,801,151	0.4%
	S&U P.L.C.	20,417		542,065	0.0%
	Saga P.L.C.	5,529,005		15,082,868	0.7%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Shawbrook Group P.L.C.	394,023	$	1,739,997	0.1%
	TP ICAP P.L.C.	2,738,199		16,662,727	0.8%
	Virgin Money Holdings UK P.L.C.	1,250,280		4,341,238	0.2%
*	Waterloo Investment Holdings, Ltd.	5,979		545	0.0%
Total Financials				325,481,245	15.3%
Health Care — (3.5%)
*	BTG P.L.C.	1,870,654		17,000,891	0.8%
*	Cambian Group P.L.C.	559,761		1,213,702	0.1%
#*	Circassia Pharmaceuticals P.L.C.	469,883		557,485	0.0%
	Consort Medical P.L.C.	260,576		3,549,340	0.2%
	Dechra Pharmaceuticals P.L.C.	391,970		8,686,220	0.4%
	Genus P.L.C.	325,361		7,530,738	0.4%
	Indivior P.L.C.	3,801,468		15,479,273	0.7%
	Spire Healthcare Group P.L.C.	1,049,538		4,436,220	0.2%
	UDG Healthcare P.L.C.	1,250,220		14,101,357	0.7%
*	Vectura Group P.L.C.	3,488,250		5,087,622	0.2%
Total Health Care				77,642,848	3.7%
Industrials — (28.0%)
	Aggreko P.L.C.	1,332,278		15,959,664	0.8%
	Air Partner P.L.C.	236,761		343,114	0.0%
	Alumasc Group P.L.C. (The)	114,348		277,080	0.0%
	Avon Rubber P.L.C.	115,594		1,533,839	0.1%
	Balfour Beatty P.L.C.	3,549,781		12,522,758	0.6%
	BBA Aviation P.L.C.	5,667,084		22,687,291	1.1%
	Berendsen P.L.C.	823,219		13,197,649	0.6%
	Bodycote P.L.C.	1,132,110		11,113,256	0.5%
#	Braemar Shipping Services P.L.C.	115,794		422,831	0.0%
	Cape P.L.C.	734,268		1,793,486	0.1%
	Capita P.L.C.	1,082,994		9,759,401	0.5%
#	Carillion P.L.C.	2,653,376		6,453,067	0.3%
	Carr's Group P.L.C.	343,111		616,137	0.0%
	Castings P.L.C.	157,187		947,926	0.1%
	Chemring Group P.L.C.	1,652,568		3,976,844	0.2%
#	Clarkson P.L.C.	131,782		4,333,491	0.2%
	Clipper Logistics P.L.C.	17,769		94,208	0.0%
	Cobham P.L.C.	12,264,036		20,710,968	1.0%
	Communisis P.L.C.	1,064,129		704,812	0.0%
	Costain Group P.L.C.	509,418		3,059,940	0.1%
	De La Rue P.L.C.	665,149		5,787,553	0.3%
*	Dialight P.L.C.	102,467		1,465,673	0.1%
	Diploma P.L.C.	596,092		8,563,872	0.4%
	Fenner P.L.C.	1,162,357		4,334,507	0.2%
*	Firstgroup P.L.C.	7,268,140		11,914,687	0.6%
*	Flybe Group P.L.C.	616,871		295,171	0.0%
	G4S P.L.C.	1,569,339		6,674,275	0.3%
	Galliford Try P.L.C.	481,131		7,282,880	0.3%
	Go-Ahead Group P.L.C.	226,040		5,180,207	0.2%
	Goodwin P.L.C.	383		7,840	0.0%
	Grafton Group P.L.C.	1,236,009		11,345,645	0.5%
	Harvey Nash Group P.L.C.	46,693		52,217	0.0%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Hays P.L.C.	6,845,876	$	14,801,470	0.7%
	Hogg Robinson Group P.L.C.	134,014		115,226	0.0%
	HomeServe P.L.C.	1,369,369		13,106,036	0.6%
	Howden Joinery Group P.L.C.	3,209,546		17,025,968	0.8%
	IMI P.L.C.	1,390,031		21,649,967	1.0%
	Interserve P.L.C.	841,666		2,534,009	0.1%
	IWG P.L.C.	3,349,423		14,120,760	0.7%
	John Laing Group P.L.C.	1,175,396		4,639,202	0.2%
	Keller Group P.L.C.	433,465		4,968,184	0.2%
	Kier Group P.L.C.	558,502		8,924,617	0.4%
	Management Consulting Group P.L.C.	788,035		84,091	0.0%
	Mears Group P.L.C.	559,010		3,467,733	0.2%
	Meggitt P.L.C.	4,273,091		26,551,937	1.3%
	Melrose Industries P.L.C.	10,887,020		34,394,454	1.6%
#	Mitie Group P.L.C.	2,122,246		7,650,038	0.4%
	Morgan Advanced Materials P.L.C.	1,527,336		5,644,861	0.3%
	Morgan Sindall Group P.L.C.	208,261		3,358,391	0.2%
	National Express Group P.L.C.	2,200,842		10,510,638	0.5%
	Norcros P.L.C.	27,976		66,264	0.0%
	Northgate P.L.C.	838,501		4,840,377	0.2%
	Pagegroup P.L.C.	1,596,218		9,907,469	0.5%
	PayPoint P.L.C.	260,966		3,006,946	0.1%
	Polypipe Group P.L.C.	986,300		4,915,999	0.2%
	Porvair P.L.C.	7,527		54,310	0.0%
	QinetiQ Group P.L.C.	3,269,092		11,516,325	0.5%
	Renewi P.L.C.	3,667,879		3,954,341	0.2%
*	Renold P.L.C.	193,435		133,107	0.0%
	Rentokil Initial P.L.C.	8,013,392		28,516,121	1.3%
	Ricardo P.L.C.	271,798		2,753,083	0.1%
	Robert Walters P.L.C.	381,498		2,106,091	0.1%
	Rotork P.L.C.	4,239,914		12,998,418	0.6%
	RPS Group P.L.C.	1,340,662		4,568,901	0.2%
	Senior P.L.C.	2,470,762		7,552,229	0.4%
*	Serco Group P.L.C.	3,356,146		5,022,404	0.2%
	Severfield P.L.C.	1,262,597		1,272,299	0.1%
	SIG P.L.C.	3,688,259		7,136,901	0.3%
	Speedy Hire P.L.C.	2,872,634		2,170,990	0.1%
	Spirax-Sarco Engineering P.L.C.	375,981		26,221,930	1.2%
	St. Ives P.L.C.	654,912		441,988	0.0%
	Stagecoach Group P.L.C.	2,117,596		5,139,652	0.2%
	Sthree P.L.C.	426,951		1,715,991	0.1%
	T Clarke P.L.C.	147,457		163,127	0.0%
	Travis Perkins P.L.C.	384,763		7,293,912	0.3%
	Trifast P.L.C.	459,256		1,345,936	0.1%
	Tyman P.L.C.	425,461		1,966,311	0.1%
	Ultra Electronics Holdings P.L.C.	403,850		10,789,889	0.5%
	Vesuvius P.L.C.	1,414,171		9,772,634	0.5%
*	Volex P.L.C.	307,047		240,290	0.0%
	Volution Group P.L.C.	83,838		209,138	0.0%
	Vp P.L.C.	160,962		1,860,645	0.1%
	Weir Group P.L.C. (The)	1,080,278		24,381,679	1.2%
	Wilmington P.L.C.	334,384		1,025,530	0.1%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Wincanton P.L.C.	664,378	$	2,159,448	0.1%
*	Wizz Air Holdings P.L.C.	141,798		4,471,517	0.2%
	WS Atkins P.L.C.	502,623		13,630,438	0.6%
	XP Power, Ltd.	74,988		2,368,783	0.1%
Total Industrials				614,651,284	28.8%
Information Technology — (9.4%)
	Acal P.L.C.	322,132		1,267,592	0.1%
	Auto Trader Group P.L.C.	434,497		2,151,348	0.1%
	AVEVA Group P.L.C.	364,825		9,222,842	0.4%
	Computacenter P.L.C.	432,094		4,561,768	0.2%
	Electrocomponents P.L.C.	2,396,207		18,023,878	0.8%
	Equiniti Group P.L.C.	548,241		1,782,583	0.1%
	FDM Group Holdings P.L.C.	60,365		597,590	0.0%
	Fidessa Group P.L.C.	215,620		6,507,774	0.3%
*	Gocompare.Com Group P.L.C.	1,697,878		2,347,966	0.1%
	Halma P.L.C.	1,951,180		27,961,076	1.3%
*	Imagination Technologies Group P.L.C.	594,017		1,183,523	0.1%
	Kainos Group P.L.C.	58,236		205,545	0.0%
	Laird P.L.C.	2,868,352		5,180,835	0.2%
	Moneysupermarket.com Group P.L.C.	2,724,454		12,548,693	0.6%
#	NCC Group P.L.C.	714,865		1,524,017	0.1%
	Oxford Instruments P.L.C.	295,060		4,027,255	0.2%
*	Paysafe Group P.L.C.	2,424,051		16,133,087	0.8%
	Playtech P.L.C.	1,158,736		14,353,680	0.7%
	Renishaw P.L.C.	180,256		8,499,529	0.4%
	Rightmove P.L.C.	477,301		26,410,664	1.2%
	RM P.L.C.	318,504		718,261	0.0%
	SDL P.L.C.	395,868		3,217,630	0.2%
	Softcat P.L.C.	427,384		2,191,693	0.1%
	Spectris P.L.C.	637,634		20,963,098	1.0%
	Spirent Communications P.L.C.	3,173,024		4,835,524	0.2%
	TT Electronics P.L.C.	857,764		2,162,227	0.1%
	Xaar P.L.C.	370,936		1,826,515	0.1%
	ZPG P.L.C.	1,386,380		6,552,971	0.3%
Total Information Technology				206,959,164	9.7%
Materials — (7.1%)
	Acacia Mining P.L.C.	900,534		3,500,495	0.2%
*	Carclo P.L.C.	213,640		474,119	0.0%
	Centamin P.L.C.	6,065,603		12,251,723	0.6%
	Croda International P.L.C.	—		24	0.0%
	DS Smith P.L.C.	4,938,232		30,477,991	1.4%
	Elementis P.L.C.	2,652,783		10,172,450	0.5%
#	Essentra P.L.C.	1,468,954		10,801,148	0.5%
*	Evraz P.L.C.	1,660,604		4,472,663	0.2%
	Ferrexpo P.L.C.	927,927		2,499,141	0.1%
*	Gem Diamonds, Ltd.	654,276		782,813	0.0%
	Hill & Smith Holdings P.L.C.	416,549		7,492,204	0.4%
	Hochschild Mining P.L.C.	1,509,803		5,397,251	0.3%
	Ibstock P.L.C.	959,901		3,073,122	0.1%
*	KAZ Minerals P.L.C.	1,307,816		8,821,328	0.4%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
#*	Lonmin P.L.C.	1,647,895	$	1,412,800	0.1%
	Low & Bonar P.L.C.	1,194,233		1,320,985	0.1%
	Marshalls P.L.C.	1,111,593		5,435,280	0.3%
*	Petra Diamonds, Ltd.	3,145,803		4,475,045	0.2%
#*	Petropavlovsk P.L.C.	13,841,290		1,238,225	0.1%
	RPC Group P.L.C.	2,047,901		20,070,642	0.9%
	Synthomer P.L.C.	1,372,318		8,717,338	0.4%
	Vedanta Resources P.L.C.	113,832		951,517	0.0%
	Victrex P.L.C.	446,927		10,918,567	0.5%
	Zotefoams P.L.C.	93,537		376,869	0.0%
Total Materials				155,133,740	7.3%
Real Estate — (2.3%)
#	Capital & Counties Properties P.L.C.	3,920,194		14,962,219	0.7%
	CLS Holdings P.L.C.	294,206		778,262	0.0%
	Countrywide P.L.C.	649,114		1,413,483	0.1%
	Daejan Holdings P.L.C.	40,669		3,268,010	0.2%
	Foxtons Group P.L.C.	1,025,578		1,265,364	0.1%
	Grainger P.L.C.	2,785,447		9,541,051	0.4%
	Harworth Group P.L.C.	30,680		38,160	0.0%
	Helical P.L.C.	633,790		2,486,854	0.1%
	LSL Property Services P.L.C.	333,276		953,988	0.0%
*	Raven Russia, Ltd.	1,080,705		695,072	0.0%
	Savills P.L.C.	734,682		8,421,083	0.4%
	St. Modwen Properties P.L.C.	1,131,729		5,287,289	0.3%
	U & I Group P.L.C.	711,291		1,748,547	0.1%
Total Real Estate				50,859,382	2.4%
Telecommunication Services — (1.4%)
	Inmarsat P.L.C.	2,060,409		20,664,141	0.9%
	KCOM Group P.L.C.	3,197,302		3,707,369	0.2%
#	TalkTalk Telecom Group P.L.C.	2,586,447		6,079,426	0.3%
Total Telecommunication Services				30,450,936	1.4%
Utilities — (1.7%)
	Drax Group P.L.C.	2,289,914		9,725,358	0.5%
	Pennon Group P.L.C.	2,088,940		22,449,594	1.0%
	Telecom Plus P.L.C.	326,650		4,914,359	0.2%
Total Utilities				37,089,311	1.7%
TOTAL COMMON STOCKS				2,118,671,125	99.3%
TOTAL INVESTMENT SECURITIES				2,118,671,125
			Value†
SECURITIES LENDING COLLATERAL — (3.4%)
§@	DFA Short Term Investment Fund	6,384,222		73,878,218	3.5%
TOTAL INVESTMENTS — (100.0%) (Cost $1,897,276,791)^			$	2,192,549,343	102.8%

THE CONTINENTAL SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

June 30, 2017
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (89.0%)
AUSTRIA — (3.0%)
	Agrana Beteiligungs AG	18,464	$	2,409,617	0.0%
	ANDRITZ AG	327,520		19,760,202	0.4%
	Atrium European Real Estate, Ltd.	786,864		3,514,723	0.1%
#	Austria Technologie & Systemtechnik AG	154,803		1,737,660	0.0%
	BUWOG AG	457,603		13,139,190	0.3%
#	CA Immobilien Anlagen AG	425,659		10,390,555	0.2%
#	DO & CO AG	33,007		2,328,801	0.0%
	EVN AG	204,617		3,058,545	0.1%
*	FACC AG	89,513		840,187	0.0%
	Flughafen Wien AG	14,487		549,630	0.0%
#	IMMOFINANZ AG	3,589,367		8,211,258	0.2%
	Josef Manner & Co. AG	870		54,372	0.0%
	Kapsch TrafficCom AG	33,944		1,815,355	0.0%
	Lenzing AG	51,632		9,247,035	0.2%
	Mayr Melnhof Karton AG	49,633		6,491,799	0.1%
	Oberbank AG	45,050		4,014,507	0.1%
	Oesterreichische Post AG	203,557		8,844,216	0.2%
	Palfinger AG	86,337		4,028,465	0.1%
	POLYTEC Holding AG	101,937		1,923,882	0.0%
#	Porr Ag	50,044		1,581,048	0.0%
*	Raiffeisen Bank International AG	518,738		13,093,768	0.2%
	RHI AG	147,894		5,485,010	0.1%
#	Rosenbauer International AG	18,912		1,246,261	0.0%
	S IMMO AG	330,386		4,796,561	0.1%
#*	Schoeller-Bleckmann Oilfield Equipment AG	63,374		4,151,940	0.1%
#	Semperit AG Holding	68,546		2,000,235	0.0%
#	Strabag SE	105,005		4,549,903	0.1%
	Telekom Austria AG	614,769		4,840,978	0.1%
	UBM Development AG	4,216		179,931	0.0%
#	UNIQA Insurance Group AG	761,218		7,100,331	0.1%
	Verbund AG	308,524		5,884,684	0.1%
#	Vienna Insurance Group AG Wiener Versicherung Gruppe	189,476		5,348,113	0.1%
	Wienerberger AG	617,965		14,058,185	0.3%
#	Wolford AG	11,252		215,567	0.0%
	Zumtobel Group AG	163,135		3,032,853	0.1%
TOTAL AUSTRIA				179,925,367	3.4%
BELGIUM — (3.9%)
#*	Ablynx NV	310,078		3,997,088	0.1%
	Ackermans & van Haaren NV	134,383		22,436,842	0.4%
*	AGFA-Gevaert NV	1,029,722		5,009,184	0.1%
	Atenor	7,598		410,351	0.0%
	Banque Nationale de Belgique	260		867,050	0.0%
	Barco NV	68,081		6,989,026	0.1%
	Bekaert SA	203,089		10,332,085	0.2%
	bpost SA	463,054		11,183,850	0.2%
#*	Celyad SA	33,227		1,405,191	0.0%
	Cie d'Entreprises CFE	49,147		6,963,807	0.1%
#	Cie Immobiliere de Belgique SA	14,788		913,836	0.0%
	Co.Br.Ha Societe Commerciale de Brasserie SA	111		405,601	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
BELGIUM — (Continued)
	D'ieteren SA	138,545	$	6,473,986	0.1%
*	Dalenys	20,562		204,022	0.0%
	Deceuninck NV	381,524		1,429,083	0.0%
	Econocom Group SA	686,666		5,740,589	0.1%
	Elia System Operator SA	169,789		9,608,763	0.2%
#	Euronav NV	746,423		5,900,951	0.1%
	EVS Broadcast Equipment SA	74,487		2,994,645	0.1%
#	Exmar NV	174,456		837,270	0.0%
#*	Fagron	240,731		2,962,062	0.1%
*	Galapagos NV(B07MXC1)	9,372		715,685	0.0%
*	Galapagos NV(B07Q2V5)	220,186		16,832,420	0.3%
	Gimv NV	34,408		2,084,103	0.1%
	Ion Beam Applications	115,719		6,378,087	0.1%
	Jensen-Group NV	14,156		671,506	0.0%
#	Kinepolis Group NV	94,699		5,257,706	0.1%
#	Lotus Bakeries	1,454		3,871,786	0.1%
#*	MDxHealth	189,412		1,022,297	0.0%
	Melexis NV	113,838		9,347,711	0.2%
#*	Nyrstar NV	745,541		4,546,113	0.1%
	Ontex Group NV	424,119		15,067,186	0.3%
	Orange Belgium SA	169,887		3,976,274	0.1%
	Picanol	28,800		3,417,007	0.1%
	RealDolmen	8,137		249,063	0.0%
	RealDolmen NV	120		3	0.0%
	Recticel SA	247,048		1,915,388	0.0%
#	Resilux	5,092		890,361	0.0%
	Roularta Media Group NV	10,263		262,243	0.0%
	Sapec	1,288		87,220	0.0%
	Sioen Industries NV	50,430		1,630,095	0.0%
	Sipef SA	30,969		2,228,610	0.1%
*	Telenet Group Holding NV	35,452		2,233,295	0.1%
	TER Beke SA	2,374		488,810	0.0%
*	Tessenderlo Group SA	213,754		9,191,909	0.2%
#*	ThromboGenics NV	159,152		572,491	0.0%
*	TiGenix NV	139,141		149,878	0.0%
	Umicore SA	364,129		25,329,184	0.5%
#	Van de Velde NV	35,498		1,899,650	0.0%
*	Viohalco SA	583,796		1,915,714	0.0%
TOTAL BELGIUM				229,297,077	4.3%
DENMARK — (4.7%)
#	ALK-Abello A.S.	34,499		5,148,128	0.1%
	Alm Brand A.S.	527,605		4,701,527	0.1%
#	Ambu A.S. Class B	129,396		8,342,037	0.2%
	Arkil Holding A.S. Class B	504		80,921	0.0%
*	Bang & Olufsen A.S.	238,410		3,990,910	0.1%
	BankNordik P/F	1,753		33,108	0.0%
#*	Bavarian Nordic A.S.	204,295		12,034,712	0.2%
	Brodrene Hartmann A.S.	16,148		953,659	0.0%
#	Columbus A.S.	282,092		602,304	0.0%
#*	D/S Norden A.S.	182,838		3,327,744	0.1%
	DFDS A.S.	175,917		9,378,297	0.2%

The Continental Small Company Series
continued

					Percentage
		Shares		Value††	of Net Assets**
DENMARK — (Continued)
	Djurslands Bank A.S.	8,970	$	344,305	0.0%
	FLSmidth & Co. A.S.	260,041		16,431,871	0.3%
	Fluegger A.S. Class B	4,198		239,206	0.0%
#	GN Store Nord A.S.	855,243		24,972,229	0.5%
	Gronlandsbanken A.S.	1,125		107,297	0.0%
*	H+H International A.S. Class B	54,662		911,023	0.0%
	Harboes Bryggeri A.S. Class B	16,516		310,590	0.0%
#	IC Group A.S.	40,541		871,826	0.0%
*	Jeudan A.S.	5,970		646,698	0.0%
	Jyske Bank A.S.	442,147		25,610,952	0.5%
	Lan & Spar Bank	4,981		405,345	0.0%
	Matas A.S.	193,833		3,068,213	0.1%
*	NKT A.S.	177,351		14,222,083	0.3%
#	NNIT A.S.	26,632		812,296	0.0%
	Nordjyske Bank A.S.	40,624		717,715	0.0%
	Parken Sport & Entertainment A.S.	33,556		440,415	0.0%
	Per Aarsleff Holding A.S.	120,639		2,929,020	0.1%
	Ringkjoebing Landbobank A.S.	124,040		6,193,354	0.1%
	Roblon A.S. Class B	2,700		127,473	0.0%
	Rockwool International A.S. Class A	116		24,474	0.0%
	Rockwool International A.S. Class B	45,423		9,994,235	0.2%
	Royal Unibrew A.S.	227,860		10,928,610	0.2%
	RTX A.S.	42,670		1,058,391	0.0%
*	Santa Fe Group A.S.	127,806		1,089,575	0.0%
	Schouw & Co. AB	79,335		8,513,448	0.2%
	SimCorp A.S.	238,443		14,439,902	0.3%
	Solar A.S. Class B	32,838		1,903,752	0.0%
	Spar Nord Bank A.S.	483,762		6,344,420	0.1%
	Sydbank A.S.	488,792		18,424,183	0.4%
	TDC A.S.	4,743,975		27,588,067	0.5%
#	Tivoli A.S.	9,370		876,017	0.0%
*	TK Development A.S.	608,784		981,488	0.0%
*	Topdanmark A.S.	491,266		15,688,648	0.3%
	Tryg A.S.	29,117		636,761	0.0%
#	United International Enterprises	10,218		2,132,972	0.0%
#*	Vestjysk Bank A.S.	53,413		74,648	0.0%
*	William Demant Holding A.S.	248,728		6,435,575	0.1%
#*	Zealand Pharma A.S.	114,486		2,294,808	0.0%
TOTAL DENMARK				277,385,232	5.2%
FINLAND — (6.1%)
#	Afarak Group Oyj	261,495		253,851	0.0%
	Ahlstrom-Munksjo Oyj	98,935		2,011,488	0.0%
	Aktia Bank Oyj	131,199		1,405,269	0.0%
	Alandsbanken Abp Class B	21,354		346,526	0.0%
	Alma Media Oyj	42,130		286,875	0.0%
	Amer Sports Oyj	641,324		16,040,781	0.3%
	Apetit Oyj	18,766		300,259	0.0%
	Aspo Oyj	92,762		959,267	0.0%
	Atria Oyj	58,225		681,560	0.0%
#*	BasWare Oyj	43,305		1,948,859	0.0%
#	Bittium Oyj	160,617		1,334,792	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FINLAND — (Continued)
	Cargotec Oyj Class B	235,592	$	14,944,956	0.3%
#*	Caverion Corp.	539,066		4,316,067	0.1%
	Citycon Oyj	2,246,894		5,896,080	0.1%
	Cramo Oyj	193,511		5,792,572	0.1%
#	Digia Oyj	62,886		172,483	0.0%
	Elisa Oyj	734,075		28,476,328	0.5%
	F-Secure Oyj	529,757		2,524,059	0.1%
	Finnair Oyj	469,550		3,436,113	0.1%
	Fiskars Oyj Abp	194,018		4,763,195	0.1%
*	Glaston Oyj Abp	46,084		22,054	0.0%
	HKScan Oyj Class A	178,153		638,514	0.0%
	Huhtamaki Oyj	533,384		21,004,982	0.4%
	Ilkka-Yhtyma Oyj	61,503		211,126	0.0%
	Kemira Oyj	700,602		8,855,729	0.2%
	Kesko Oyj Class A	30,762		1,533,156	0.0%
	Kesko Oyj Class B	345,206		17,559,882	0.3%
	Konecranes Oyj	302,779		12,818,998	0.2%
	Lassila & Tikanoja Oyj	181,904		3,825,717	0.1%
	Lemminkainen Oyj	30,098		883,720	0.0%
#	Metsa Board Oyj	1,336,761		9,702,975	0.2%
	Metso Oyj	615,247		21,347,752	0.4%
	Nokian Renkaat Oyj	659,051		27,280,421	0.5%
	Olvi Oyj Class A	68,749		2,406,904	0.1%
	Oriola Oyj Class A	6,054		26,117	0.0%
	Oriola Oyj Class B	628,439		2,629,583	0.1%
	Orion Oyj Class A	124,398		7,923,043	0.2%
	Orion Oyj Class B	389,499		24,881,496	0.5%
#	Outokumpu Oyj	3,022,031		24,114,795	0.5%
#*	Outotec Oyj	1,238,541		8,528,405	0.2%
	Pihlajalinna Oyj	23,642		471,379	0.0%
	Ponsse Oy	50,472		1,368,652	0.0%
*	Poyry Oyj	188,253		1,026,511	0.0%
*	QT Group Oyj	55,899		444,416	0.0%
	Raisio Oyj Class V	593,732		2,467,838	0.1%
	Ramirent Oyj	447,174		4,511,017	0.1%
	Rapala VMC Oyj	109,543		499,372	0.0%
	Revenio Group Oyj	30,157		1,261,072	0.0%
	Sanoma Oyj	754,064		7,045,254	0.1%
	Sponda Oyj	836,364		4,841,310	0.1%
#	SRV Group OYJ	23,502		133,832	0.0%
*	Stockmann Oyj Abp Class A	42,474		364,541	0.0%
*	Stockmann Oyj Abp Class B	170,645		1,486,566	0.0%
	Technopolis Oyj	905,646		3,817,677	0.1%
	Teleste Oyj	46,406		439,258	0.0%
	Tieto Oyj	295,694		9,147,722	0.2%
#	Tikkurila Oyj	229,218		4,958,039	0.1%
	Uponor Oyj	298,122		5,418,903	0.1%
	Vaisala Oyj Class A	48,211		2,402,325	0.0%
	Valmet Oyj	614,600		11,942,433	0.2%
	Viking Line Abp	10,366		227,565	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FINLAND — (Continued)
#	YIT Oyj	809,736	$	6,772,737	0.1%
TOTAL FINLAND				363,135,168	6.8%
FRANCE — (12.5%)
	ABC Arbitrage	150,388		1,107,887	0.0%
	Actia Group	48,398		472,397	0.0%
*	Air France-KLM	993,402		14,180,413	0.3%
	Akka Technologies	51,478		2,667,451	0.1%
	Albioma SA	114,064		2,624,490	0.1%
	Altamir	126,289		2,349,902	0.1%
	Alten SA	137,186		11,314,689	0.2%
	Altran Technologies SA	771,932		12,575,414	0.2%
#*	Antalis International SAS	57,827		155,212	0.0%
	April SA	74,473		1,174,064	0.0%
#*	Archos	138,714		153,835	0.0%
	Arkema SA	164,514		17,568,732	0.3%
	Assystem	62,634		2,216,176	0.0%
	Aubay	29,713		958,123	0.0%
	Axway Software SA	34,966		1,220,747	0.0%
	Bastide le Confort Medical	9,803		398,828	0.0%
	Beneteau SA	199,333		3,441,886	0.1%
*	Bigben Interactive	19,902		219,417	0.0%
	BioMerieux	52,544		11,378,239	0.2%
	Boiron SA	38,334		3,780,451	0.1%
	Bonduelle SCA	74,889		2,809,312	0.1%
#	Bourbon Corp.	97,879		950,834	0.0%
	Burelle SA	1,928		2,500,490	0.1%
	Casino Guichard Perrachon SA	3,794		224,697	0.0%
	Catering International Services	14,124		329,967	0.0%
#*	Cegedim SA	23,645		819,718	0.0%
#*	CGG SA	97,011		447,888	0.0%
	Chargeurs SA	98,035		2,698,672	0.1%
	Cie des Alpes	45,531		1,525,556	0.0%
	Cie Plastic Omnium SA	318,364		11,615,098	0.2%
#*	Coface SA	301,901		3,021,007	0.1%
	Derichebourg SA	584,687		4,940,287	0.1%
	Devoteam SA	27,976		2,225,564	0.0%
	Dom Security	2,414		160,137	0.0%
#	Edenred	1,014,513		26,463,706	0.5%
	Electricite de Strasbourg SA	21,168		2,903,202	0.1%
	Elior Group	493,901		14,355,077	0.3%
#	Elis SA	352,719		8,081,733	0.2%
*	Eramet	28,909		1,418,074	0.0%
*	Esso SA Francaise	15,303		1,011,899	0.0%
	Euler Hermes Group	60,929		7,241,721	0.1%
	Eurofins Scientific SE	8,816		4,974,029	0.1%
	Euronext NV	273,231		14,190,222	0.3%
	Europcar Groupe SA	194,064		2,842,390	0.1%
	Eutelsat Communications SA	333,423		8,507,252	0.2%
#	Exel Industries Class A	10,330		1,156,571	0.0%
#	Faurecia	306,467		15,541,308	0.3%
#	Fleury Michon SA	5,962		353,662	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FRANCE — (Continued)
*	Fnac Darty SA	63,334	$	5,134,035	0.1%
	Gaumont SA	13,521		1,350,995	0.0%
#	Gaztransport Et Technigaz SA	106,887		4,271,297	0.1%
	GEA	2,433		253,562	0.0%
	Gevelot SA	3,466		741,262	0.0%
	GL Events	48,589		1,369,099	0.0%
	Groupe Crit	23,258		2,161,631	0.0%
	Groupe Eurotunnel SE	830,025		8,855,960	0.2%
#*	Groupe Gorge	22,858		619,899	0.0%
	Groupe Open	28,097		877,971	0.0%
#	Guerbet	32,666		2,929,044	0.1%
	Haulotte Group SA	74,466		1,271,561	0.0%
#	Havas SA	755,776		7,959,411	0.2%
	HERIGE SADCS	4,147		179,395	0.0%
#*	HiPay Group SA	24,579		409,950	0.0%
*	ID Logistics Group	7,524		1,176,247	0.0%
	Imerys SA	145,098		12,629,913	0.2%
#	Ingenico Group SA	224,219		20,333,824	0.4%
	Interparfums SA	59,887		2,268,120	0.1%
	Ipsen SA	162,032		22,172,097	0.4%
#	IPSOS	179,248		6,727,347	0.1%
	Jacquet Metal Service	70,664		1,871,835	0.0%
	Kaufman & Broad SA	39,805		1,774,030	0.0%
	Korian SA	215,892		7,366,673	0.1%
	Lagardere SCA	663,377		20,932,326	0.4%
	Lanson-BCC	8,795		338,324	0.0%
	Laurent-Perrier	12,372		1,087,596	0.0%
	Le Belier	3,587		182,096	0.0%
	Le Noble Age	27,298		1,870,530	0.0%
	Lectra	115,852		3,181,168	0.1%
	Linedata Services	8,608		515,189	0.0%
	LISI	96,951		4,612,258	0.1%
	Maisons France Confort SA	15,743		1,127,031	0.0%
	Manitou BF SA	49,563		1,543,433	0.0%
	Manutan International	14,076		1,391,568	0.0%
	Mersen SA	117,956		3,872,938	0.1%
#*	METabolic EXplorer SA	151,621		409,109	0.0%
	Metropole Television SA	293,607		6,826,311	0.1%
	MGI Coutier	56,015		2,240,468	0.1%
	Mr Bricolage	30,731		491,462	0.0%
#*	Naturex	31,570		3,329,255	0.1%
	Neopost SA	189,677		8,808,422	0.2%
	Nexans SA	188,998		10,350,039	0.2%
	Nexity SA	195,055		11,320,809	0.2%
#*	Nicox	107,549		1,459,764	0.0%
*	NRJ Group	71,278		889,874	0.0%
#	Oeneo SA	117,684		1,253,386	0.0%
#*	Onxeo SA(B04P0G6)	202,356		972,347	0.0%
#*	Onxeo SA(BPFJVR0)	48,958		234,256	0.0%
#	Orpea	182,255		20,319,178	0.4%
#*	Parrot SA	77,529		833,715	0.0%
	PCAS	10,780		209,793	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FRANCE — (Continued)
#*	Pierre & Vacances SA	28,358	$	1,592,165	0.0%
	Plastivaloire	22,709		648,210	0.0%
	PSB Industries SA	8,161		466,295	0.0%
#	Rallye SA	139,003		2,863,550	0.1%
	Rexel SA	1,596,995		26,098,568	0.5%
#	Robertet SA	3,324		1,533,843	0.0%
	Rothschild & Co.	27,476		1,001,676	0.0%
#	Rubis SCA	209,353		23,745,324	0.5%
	Samse SA	8,068		1,353,724	0.0%
	Sartorius Stedim Biotech	101,854		7,895,605	0.2%
	Savencia SA	33,142		3,126,096	0.1%
	SEB SA	95,953		17,222,455	0.3%
	Seche Environnement SA	11,799		466,532	0.0%
#*	Sequana SA	289,137		352,430	0.0%
#*	SES-imagotag SA	8,385		279,545	0.0%
	Societe BIC SA	719		85,375	0.0%
*	Societe des Bains de Mer et du Cercle des Etrangers a Monaco	60,258		2,275,587	0.1%
#*	Societe Internationale de Plantations d'Heveas SA	7,700		749,286	0.0%
	Societe Marseillaise du Tunnel Prado-Carenage SA	3,434		82,886	0.0%
#	Societe pour l'Informatique Industrielle	39,566		1,014,267	0.0%
*	SOITEC	63,993		3,910,414	0.1%
#*	Solocal Group	3,182,072		4,150,844	0.1%
	Somfy SA	104,795		10,963,748	0.2%
#	Sopra Steria Group	74,501		11,889,201	0.2%
	SPIE SA	369,264		11,091,883	0.2%
*	Stallergenes Greer P.L.C.	12,201		526,199	0.0%
#*	Ste Industrielle d'Aviation Latecoere SA	310,883		1,480,855	0.0%
	Stef SA	28,166		2,948,656	0.1%
	STMicroelectronics NV	501,435		7,210,394	0.1%
	Sword Group	35,235		1,441,374	0.0%
	Synergie SA	69,989		3,437,472	0.1%
	Tarkett SA	116,324		5,406,488	0.1%
	Technicolor SA	1,482,868		6,459,703	0.1%
	Teleperformance	336,308		43,122,074	0.8%
#	Television Francaise 1	626,436		8,757,637	0.2%
	Tessi SA	6,807		1,239,935	0.0%
#	TFF Group	5,065		805,636	0.0%
#	Thermador Groupe	14,302		1,523,901	0.0%
	Total Gabon	1,515		245,747	0.0%
*	Touax SA	5,568		78,799	0.0%
	Trigano SA	46,958		5,591,635	0.1%
*	Ubisoft Entertainment SA	521,852		29,626,143	0.6%
	Union Financiere de France BQE SA	16,855		575,847	0.0%
#*	Vallourec SA	1,629,822		9,919,222	0.2%
#*	Valneva SE	277,705		938,260	0.0%
	Vetoquinol SA	16,625		970,174	0.0%
	Vicat SA	88,509		6,236,435	0.1%
	VIEL & Cie SA	161,700		1,075,700	0.0%
	Vilmorin & Cie SA	27,056		2,203,369	0.0%
#*	Virbac SA	22,063		3,541,872	0.1%
#	Vranken-Pommery Monopole SA	18,262		509,089	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FRANCE — (Continued)
*	Worldline SA	36,060	$	1,236,753	0.0%
TOTAL FRANCE				740,545,107	13.8%
GERMANY — (14.2%)
	Aareal Bank AG	409,233		16,248,688	0.3%
*	Adler Modemaerkte AG	41,855		274,045	0.0%
#*	ADLER Real Estate AG	124,928		1,941,671	0.0%
	ADO Properties SA	29,552		1,250,368	0.0%
*	ADVA Optical Networking SE	219,061		2,264,235	0.0%
#*	AIXTRON SE	592,934		4,171,274	0.1%
	All for One Steeb AG	569		40,637	0.0%
#	Allgeier SE	26,260		621,701	0.0%
	Amadeus Fire AG	30,763		2,704,203	0.1%
*	AS Creation Tapeten	7,109		233,039	0.0%
	Atoss Software AG	193		15,407	0.0%
	Aurubis AG	180,566		14,204,450	0.3%
#	Axel Springer SE	194,300		11,687,344	0.2%
	Basler AG	4,574		677,305	0.0%
	Bauer AG	43,326		1,043,064	0.0%
	BayWa AG(5838057)	78,978		2,806,415	0.1%
	BayWa AG(5838068)	124		4,387	0.0%
	Bechtle AG	80,333		10,328,421	0.2%
#	Bertrandt AG	27,357		2,743,065	0.1%
	Bijou Brigitte AG	19,396		1,306,241	0.0%
#	Bilfinger SE	178,040		6,988,274	0.1%
#*	Biotest AG	60,306		1,940,307	0.0%
	Borussia Dortmund GmbH & Co. KGaA	473,904		3,301,857	0.1%
#	CANCOM SE	88,627		5,397,210	0.1%
	Carl Zeiss Meditec AG	160,352		8,340,604	0.2%
	CENIT AG	50,111		1,233,537	0.0%
	CENTROTEC Sustainable AG	44,227		973,560	0.0%
	Cewe Stiftung & Co. KGAA	31,218		2,634,029	0.1%
	Clere AG	2,001		37,449	0.0%
	Comdirect Bank AG	182,514		2,026,687	0.0%
	CompuGroup Medical SE	119,816		6,721,726	0.1%
*	Constantin Medien AG	340,089		796,743	0.0%
	CropEnergies AG	116,924		1,296,281	0.0%
	CTS Eventim AG & Co. KGaA	219,481		9,718,546	0.2%
	Data Modul AG	11,455		1,027,212	0.0%
#	Delticom AG	28,981		525,230	0.0%
	Deutsche Beteiligungs AG	59,027		2,632,659	0.1%
	Deutsche EuroShop AG	220,384		8,695,650	0.2%
	Deutsche Pfandbriefbank AG	183,690		2,271,789	0.0%
	Deutz AG	599,311		5,062,376	0.1%
*	Dialog Semiconductor P.L.C.	382,079		16,324,430	0.3%
	DIC Asset AG	265,874		2,918,173	0.1%
#	Diebold Nixdorf AG	3,583		295,015	0.0%
	DMG Mori AG	57,566		3,238,820	0.1%
	Dr Hoenle AG	25,078		936,804	0.0%
	Draegerwerk AG & Co. KGaA	15,148		1,220,349	0.0%
	Drillisch AG	227,365		13,715,063	0.3%
	Duerr AG	133,802		15,924,049	0.3%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
	Eckert & Ziegler AG	18,549	$	739,668	0.0%
	EDAG Engineering Group AG	2,157		41,344	0.0%
	Elmos Semiconductor AG	53,988		1,188,009	0.0%
#	ElringKlinger AG	167,277		3,206,842	0.1%
#*	Euromicron AG	32,612		327,248	0.0%
*	Evotec AG	1,103,203		17,634,912	0.3%
	Ferratum Oyj	4,878		131,618	0.0%
#	Fielmann AG	114,167		8,811,521	0.2%
*	First Sensor AG	22,812		342,718	0.0%
	Francotyp-Postalia Holding AG Class A	53,729		367,286	0.0%
	Fraport AG Frankfurt Airport Services Worldwide	149,002		13,185,568	0.3%
	Freenet AG	652,809		20,826,283	0.4%
	Fuchs Petrolub SE	147,943		6,981,201	0.1%
	Gerresheimer AG	198,146		15,947,502	0.3%
#	Gerry Weber International AG	98,127		1,132,736	0.0%
	Gesco AG	43,467		1,231,109	0.0%
#	GFT Technologies SE	90,843		1,888,762	0.0%
	Grammer AG	79,765		4,182,490	0.1%
#	GRENKE AG	36,620		8,151,716	0.2%
*	H&R GmbH & Co. KGaA	40,687		567,968	0.0%
	Hamburger Hafen und Logistik AG	113,533		2,485,486	0.1%
#*	Heidelberger Druckmaschinen AG	1,506,720		4,588,545	0.1%
	Hella KGaA Hueck & Co.	152,033		7,497,710	0.1%
*	Highlight Communications AG	94,846		558,260	0.0%
#*	HolidayCheck Group AG	131,814		463,088	0.0%
	Hornbach Baumarkt AG	23,795		859,166	0.0%
#	Hugo Boss AG	297,958		20,887,553	0.4%
	Indus Holding AG	129,827		9,208,847	0.2%
	Isra Vision AG	18,038		3,067,962	0.1%
	Jenoptik AG	262,122		6,890,824	0.1%
#	K+S AG	990,931		25,451,803	0.5%
*	Kampa AG	7,101		170	0.0%
	KION Group AG	173,805		13,294,779	0.3%
	Kloeckner & Co. SE	555,392		5,857,570	0.1%
	Koenig & Bauer AG	69,890		4,737,438	0.1%
*	Kontron AG	437,004		1,586,748	0.0%
#	Krones AG	75,044		8,699,218	0.2%
	KSB AG	3,466		1,785,179	0.0%
	KWS Saat SE	15,970		6,279,854	0.1%
#	Lanxess AG	484,758		36,764,155	0.7%
	LEG Immobilien AG	318,782		30,006,594	0.6%
#	Leifheit AG	34,096		1,332,393	0.0%
	Leoni AG	184,167		9,493,741	0.2%
#*	LPKF Laser & Electronics AG	67,178		718,044	0.0%
#*	Manz AG	21,725		840,218	0.0%
#*	MasterFlex SE	19,347		171,632	0.0%
*	Mediclin AG	88,966		568,637	0.0%
#*	Medigene AG	56,083		708,580	0.0%
	MLP AG	317,632		2,123,424	0.0%
	MTU Aero Engines AG	249,839		35,298,921	0.7%
	Nemetschek SE	107,874		8,047,268	0.2%
#	Nexus AG	51,805		1,531,340	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
#*	Nordex SE	307,691	$	3,785,551	0.1%
	Norma Group SE	202,672		10,543,573	0.2%
	OHB SE	34,003		1,030,905	0.0%
	OSRAM Licht AG	340,669		27,192,894	0.5%
#	paragon AG	7,481		565,581	0.0%
*	Patrizia Immobilien AG	263,203		4,977,245	0.1%
*	Petro Welt Technologies AG	6,474		48,921	0.0%
	Pfeiffer Vacuum Technology AG	52,225		7,653,835	0.1%
	PNE Wind AG	367,537		1,069,863	0.0%
	Progress-Werk Oberkirch AG	7,571		383,017	0.0%
	PSI Software AG	27,232		437,374	0.0%
	Puma SE	10,528		4,052,684	0.1%
#*	PVA TePla AG	46,019		150,543	0.0%
	QIAGEN NV	717,083		23,860,018	0.4%
#	QSC AG	498,723		992,891	0.0%
	R Stahl AG	14,952		528,993	0.0%
#	Rational AG	14,449		7,704,765	0.1%
	Rheinmetall AG	223,411		21,265,051	0.4%
#	RHOEN-KLINIKUM AG	235,088		6,867,791	0.1%
#	RIB Software SE	177,043		2,994,110	0.1%
#	S&T AG	163,061		2,460,006	0.1%
	SAF-Holland SA	282,567		4,848,806	0.1%
	Salzgitter AG	212,972		8,691,523	0.2%
#*	Schaltbau Holding AG	27,311		1,197,100	0.0%
	Schloss Wachenheim AG	7,479		145,473	0.0%
	Secunet Security Networks AG	592		63,010	0.0%
#*	SGL Carbon SE	91,937		1,144,747	0.0%
	SHW AG	25,624		1,090,930	0.0%
*	Siltronic AG	50,049		4,252,405	0.1%
#	Sixt Leasing SE	21,235		449,326	0.0%
#	Sixt SE	80,910		4,895,655	0.1%
#	SMA Solar Technology AG	61,977		1,862,672	0.0%
#*	SMT Scharf AG	18,103		250,920	0.0%
#	Softing AG	21,576		284,670	0.0%
	Software AG	309,788		13,587,343	0.3%
*	Solarworld AG	1		1	0.0%
	Stabilus SA	75,261		5,849,483	0.1%
	Stada Arzneimittel AG	306,492		21,770,420	0.4%
	Stroeer SE & Co. KGaA	118,799		7,133,289	0.1%
	Suedzucker AG	438,206		9,148,568	0.2%
#*	Suess MicroTec AG	105,674		1,244,765	0.0%
	Surteco SE	30,039		812,768	0.0%
	TAG Immobilien AG	798,736		12,580,710	0.2%
	Takkt AG	163,454		4,082,440	0.1%
	Technotrans AG	34,509		1,488,247	0.0%
#*	Tele Columbus AG	74,482		823,780	0.0%
	TLG Immobilien AG	221,773		4,539,054	0.1%
#*	Tom Tailor Holding SE	193,168		1,727,815	0.0%
#	Traffic Systems SE	23,180		380,223	0.0%
	Uniper SE	312,671		5,875,176	0.1%
	VERBIO Vereinigte BioEnergie AG	127,536		1,439,494	0.0%
#*	Vossloh AG	68,437		4,405,152	0.1%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
#	VTG AG	80,128	$	3,132,884	0.1%
#	Wacker Chemie AG	77,716		8,458,432	0.2%
	Wacker Neuson SE	146,155		3,551,817	0.1%
	Washtec AG	53,359		4,102,571	0.1%
	Wuestenrot & Wuerttembergische AG	26,361		577,561	0.0%
	XING AG	16,563		4,420,235	0.1%
	Zeal Network SE	40,531		1,225,272	0.0%
TOTAL GERMANY				839,552,385	15.7%
IRELAND — (1.2%)
	C&C Group P.L.C.(B010DT8)	399,607		1,470,446	0.0%
	C&C Group P.L.C.(B011Y09)	1,095,219		4,026,644	0.1%
	Datalex P.L.C.	72,333		330,333	0.0%
*	FBD Holdings P.L.C.	125,728		1,184,702	0.0%
	Glanbia P.L.C.(4058629)	147,899		2,889,470	0.1%
	Glanbia P.L.C.(0066950)	700,613		13,750,383	0.3%
	IFG Group P.L.C.	302,015		629,372	0.0%
*	Independent News & Media P.L.C.	1,593,163		243,656	0.0%
	Irish Continental Group P.L.C.(BLP5857)	465,289		2,693,180	0.1%
	Irish Continental Group P.L.C.(BLP59W1)	234,200		1,382,965	0.0%
	Kingspan Group P.L.C.	708,026		24,314,202	0.4%
	Smurfit Kappa Group P.L.C.	601,045		18,688,380	0.3%
TOTAL IRELAND				71,603,733	1.3%
ISRAEL — (2.2%)
#*	ADO Group, Ltd.	77,051		1,056,332	0.0%
	Afcon Holdings, Ltd.	240		11,191	0.0%
#*	Africa Israel Investments, Ltd.	1,046,109		102,208	0.0%
*	Africa Israel Properties, Ltd.	87,771		1,861,013	0.0%
	Africa Israel Residences, Ltd.	594		12,130	0.0%
#*	Airport City, Ltd.	331,977		4,592,340	0.1%
	Albaad Massuot Yitzhak, Ltd.	1,142		19,484	0.0%
#*	Allot Communications, Ltd.	136,197		690,218	0.0%
	Alony Hetz Properties & Investments, Ltd.	16,818		169,829	0.0%
	Alrov Properties and Lodgings, Ltd.	48,457		1,420,315	0.0%
#	Amot Investments, Ltd.	590,878		3,093,991	0.1%
	Arad, Ltd.	1,053		11,581	0.0%
#*	Arko Holdings, Ltd.	192,837		107,255	0.0%
	Ashtrom Properties, Ltd.	30,421		140,510	0.0%
#*	AudioCodes, Ltd.	165,181		1,011,889	0.0%
#	Avgol Industries 1953, Ltd.	423,762		541,177	0.0%
#*	Azorim-Investment Development & Construction Co., Ltd.	405,707		440,727	0.0%
	Bayside Land Corp.	4,443		1,979,227	0.0%
#	Big Shopping Centers, Ltd.	27,880		1,981,066	0.0%
#*	BioLine RX, Ltd.	59,630		50,749	0.0%
#	Blue Square Real Estate, Ltd.	31,247		1,427,935	0.0%
#*	Brack Capital Properties NV	25,191		2,552,649	0.1%
*	Camtek, Ltd.	13,466		65,169	0.0%
	Carasso Motors, Ltd.	18,702		186,544	0.0%
#*	Cellcom Israel, Ltd.	311,336		2,989,937	0.1%
#*	Ceragon Networks, Ltd.	297,222		764,733	0.0%
#*	Clal Biotechnology Industries, Ltd.	291,561		309,277	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ISRAEL — (Continued)
#*	Clal Insurance Enterprises Holdings, Ltd.	124,733	$	2,108,673	0.1%
	Cohen Development & Industrial Buildings, Ltd.	2,564		74,170	0.0%
*	Compugen, Ltd.	185,531		713,737	0.0%
	Danel Adir Yeoshua, Ltd.	2,595		123,171	0.0%
	Delek Automotive Systems, Ltd.	204,232		1,662,624	0.0%
#	Delta-Galil Industries, Ltd.	73,179		2,169,728	0.1%
#	Direct Insurance Financial Investments, Ltd.	89,972		970,703	0.0%
#	El Al Israel Airlines	1,798,490		1,653,288	0.0%
	Electra Consumer Products 1970, Ltd.	49,218		986,995	0.0%
#	Electra, Ltd.	10,286		2,054,934	0.1%
	Elron Electronic Industries, Ltd.	62,094		368,968	0.0%
#	Energix-Renewable Energies, Ltd.	330,992		277,716	0.0%
*	Enlight Renewable Energy, Ltd.	150,955		56,296	0.0%
*	Equital, Ltd.	10,772		282,397	0.0%
#*	Evogene, Ltd.	70,559		353,759	0.0%
	First International Bank Of Israel, Ltd.	206,352		3,738,622	0.1%
	FMS Enterprises Migun, Ltd.	18,001		755,150	0.0%
	Formula Systems 1985, Ltd.	54,587		2,043,366	0.1%
#	Fox Wizel, Ltd.	38,601		813,242	0.0%
#*	Gilat Satellite Networks, Ltd.	146,815		717,218	0.0%
*	Hadera Paper, Ltd.	12,929		814,491	0.0%
#	Hamlet Israel-Canada, Ltd.	19,810		312,113	0.0%
	Harel Insurance Investments & Financial Services, Ltd.	636,496		3,765,464	0.1%
#	Hilan, Ltd.	59,950		1,089,364	0.0%
#	IDI Insurance Co., Ltd.	28,378		1,653,613	0.0%
#*	Industrial Buildings Corp., Ltd.	475,849		663,551	0.0%
#	Inrom Construction Industries, Ltd.	229,361		1,091,018	0.0%
*	Israel Discount Bank, Ltd. Class A	2,736,507		7,208,310	0.1%
	Israel Land Development Co., Ltd. (The)	22,310		205,042	0.0%
	Isras Investment Co., Ltd.	500		59,378	0.0%
	Issta Lines, Ltd.	1,882		43,448	0.0%
*	Jerusalem Oil Exploration	50,465		3,030,440	0.1%
#*	Kamada, Ltd.	160,188		949,173	0.0%
*	Kenon Holdings, Ltd.	49,741		668,251	0.0%
	Kerur Holdings, Ltd.	23,086		685,583	0.0%
	Klil Industries, Ltd.	5,093		579,670	0.0%
	Maabarot Products, Ltd.	21,999		408,699	0.0%
	Magic Software Enterprises, Ltd.	106,119		847,448	0.0%
#	Matrix IT, Ltd.	208,937		2,147,149	0.1%
#	Maytronics, Ltd.	197,821		772,875	0.0%
#*	Mazor Robotics, Ltd.	228,777		3,940,904	0.1%
	Mediterranean Towers, Ltd.	13,777		23,465	0.0%
	Mega Or Holdings, Ltd.	11,008		107,908	0.0%
	Meitav Dash Investments, Ltd.	44,186		181,713	0.0%
	Melisron, Ltd.	73,243		3,848,404	0.1%
#	Menora Mivtachim Holdings, Ltd.	134,385		1,691,417	0.0%
	Migdal Insurance & Financial Holding, Ltd.	2,192,100		2,344,777	0.1%
	Mivtach Shamir Holdings, Ltd.	22,547		489,272	0.0%
#*	Naphtha Israel Petroleum Corp., Ltd.	190,302		1,516,823	0.0%
#	Neto ME Holdings, Ltd.	8,219		949,069	0.0%
*	Nova Measuring Instruments, Ltd.	150,491		3,437,814	0.1%
	Oil Refineries, Ltd.	6,029,190		2,653,014	0.1%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ISRAEL — (Continued)
#*	Partner Communications Co., Ltd.	638,671	$	3,381,477	0.1%
#	Paz Oil Co., Ltd.	29,731		5,075,203	0.1%
*	Perion Network, Ltd.	16,455		31,505	0.0%
*	Phoenix Holdings, Ltd. (The)	356,371		1,515,232	0.0%
	Plasson Industries, Ltd.	14,644		560,862	0.0%
	Rami Levy Chain Stores Hashikma Marketing 2006, Ltd.	34,290		1,683,733	0.0%
#*	Redhill Biopharma, Ltd.	45,309		38,865	0.0%
#	Scope Metals Group, Ltd.	31,556		990,357	0.0%
#	Shapir Engineering and Industry, Ltd.	417,649		1,325,189	0.0%
	Shikun & Binui, Ltd.	1,140,334		2,954,940	0.1%
	Shufersal, Ltd.	411,270		2,156,086	0.1%
#*	Space Communication, Ltd.	17,611		127,012	0.0%
	Strauss Group, Ltd.	172,240		3,370,844	0.1%
	Summit Real Estate Holdings, Ltd.	128,850		912,241	0.0%
	Tadiran Holdings, Ltd.	12,474		348,888	0.0%
#*	Tower Semiconductor, Ltd.	426,432		10,205,921	0.2%
#*	Union Bank of Israel	202,328		956,907	0.0%
TOTAL ISRAEL				133,329,155	2.5%
ITALY — (9.5%)
	A2A SpA	8,667,536		14,411,921	0.3%
	ACEA SpA	320,299		4,863,857	0.1%
#*	Aedes SIIQ SpA	691,904		258,556	0.0%
#*	Aeffe SpA	190,047		351,987	0.0%
	Aeroporto Guglielmo Marconi Di Bologna SpA	2,803		44,571	0.0%
	Amplifon SpA	515,448		6,801,921	0.1%
	Anima Holding SpA	1,374,707		9,855,051	0.2%
*	Ansaldo STS SpA	572,443		7,302,937	0.1%
*	Arnoldo Mondadori Editore SpA	825,914		1,508,912	0.0%
	Ascopiave SpA	435,096		1,726,166	0.0%
#	Astaldi SpA	309,909		1,929,026	0.0%
	Autogrill SpA	728,145		8,825,886	0.2%
#	Azimut Holding SpA	623,078		12,534,989	0.2%
#*	Banca Carige SpA	1,998,068		430,063	0.0%
	Banca Finnat Euramerica SpA	616,149		259,855	0.0%
	Banca Generali SpA	290,229		8,660,500	0.2%
	Banca IFIS SpA	147,336		5,989,338	0.1%
	Banca Mediolanum SpA	1,447,325		12,019,521	0.2%
#*	Banca Monte dei Paschi di Siena SpA	19,884		342,479	0.0%
	Banca Popolare di Sondrio SCPA	2,343,224		9,270,974	0.2%
#	Banca Profilo SpA	1,388,807		319,593	0.0%
	Banca Sistema SpA	111,902		301,976	0.0%
*	Banco BPM SpA	6,471,527		21,734,654	0.4%
	Banco di Desio e della Brianza SpA	224,677		658,875	0.0%
#	BasicNet SpA	184,584		753,231	0.0%
	BE	392,662		374,255	0.0%
	Biesse SpA	76,476		2,749,526	0.1%
	BPER Banca	2,548,728		12,765,854	0.3%
	Brembo SpA	806,265		11,814,177	0.2%
	Brunello Cucinelli SpA	138,773		3,646,481	0.1%
	Buzzi Unicem SpA	409,864		10,219,949	0.2%
#	Cairo Communication SpA	369,487		1,620,871	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ITALY — (Continued)
*	Caltagirone Editore SpA	6,277	$	8,273	0.0%
#	Cembre SpA	39,007		922,649	0.0%
	Cementir Holding SpA	334,012		1,992,942	0.1%
	Cerved Information Solutions SpA	1,000,694		10,736,678	0.2%
	CIR-Compagnie Industriali Riunite SpA	2,176,173		3,051,857	0.1%
	Credito Emiliano SpA	487,193		3,945,094	0.1%
#	Credito Valtellinese SpA	617,221		2,636,163	0.1%
#*	d'Amico International Shipping SA	1,174,234		393,836	0.0%
	Danieli & C Officine Meccaniche SpA	77,951		1,900,715	0.0%
	Datalogic SpA	111,466		3,002,799	0.1%
	Davide Campari-Milano SpA	2,221,345		15,704,191	0.3%
	De' Longhi SpA	274,771		8,619,811	0.2%
	DeA Capital SpA	592,759		823,002	0.0%
	DiaSorin SpA	116,636		8,965,927	0.2%
#	Ei Towers SpA	94,164		5,452,170	0.1%
	El.En. SpA	48,277		1,535,471	0.0%
	Elica SpA	4,665		9,300	0.0%
	Emak SpA	233,497		439,639	0.0%
	ePrice SpA	95,719		407,276	0.0%
	ERG SpA	372,364		5,241,145	0.1%
	Esprinet SpA	169,978		1,226,529	0.0%
#*	Eurotech SpA	90,850		138,652	0.0%
*	Exprivia SpA	11,442		16,226	0.0%
	Falck Renewables SpA	829,129		1,096,427	0.0%
	Fila SpA	37,198		780,067	0.0%
#*	Fincantieri SpA	2,358,732		2,645,732	0.1%
	FinecoBank Banca Fineco SpA	2,059,659		16,235,225	0.3%
	FNM SpA	747,367		453,767	0.0%
*	GEDI Gruppo Editoriale SpA	740,279		668,310	0.0%
#	Geox SpA	478,801		1,579,687	0.0%
	Gruppo MutuiOnline SpA	120,305		1,642,397	0.0%
	Hera SpA	3,776,494		11,545,631	0.2%
	IMMSI SpA	1,202,186		594,041	0.0%
	Industria Macchine Automatiche SpA	70,748		6,508,957	0.1%
	Infrastrutture Wireless Italiane SpA	811,221		4,606,635	0.1%
#*	Intek Group SpA	1,768,514		643,029	0.0%
	Interpump Group SpA	425,898		11,653,193	0.2%
	Iren SpA	3,118,364		7,221,966	0.1%
	Italgas SpA	2,515,080		12,683,889	0.2%
	Italmobiliare SpA	33,877		925,878	0.0%
*	IVS Group SA	23,572		334,361	0.0%
#*	Juventus Football Club SpA	2,220,681		1,337,866	0.0%
	La Doria SpA	67,081		801,190	0.0%
#	Maire Tecnimont SpA	643,190		2,992,937	0.1%
#	MARR SpA	189,413		4,506,288	0.1%
	Massimo Zanetti Beverage Group SpA	1,850		17,200	0.0%
#	Mediaset SpA	4,351,208		17,142,535	0.3%
	Moncler SpA	727,614		17,068,739	0.3%
#	Mondo TV SpA	10,510		48,133	0.0%
	Nice SpA	99,606		403,605	0.0%
	OVS SpA	573,687		4,084,572	0.1%
#	Panariagroup Industrie Ceramiche SpA	54,952		326,142	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ITALY — (Continued)
#	Parmalat SpA	697,227	$	2,413,293	0.1%
#	Piaggio & C SpA	1,124,262		2,776,240	0.1%
#*	Prelios SpA	127,326		16,297	0.0%
	Prima Industrie SpA	21,258		599,055	0.0%
	Prysmian SpA	1,026,230		30,267,141	0.6%
	RAI Way SpA	224,084		1,119,199	0.0%
	Recordati SpA	406,244		16,474,021	0.3%
#	Reno de Medici SpA	840,050		341,694	0.0%
	Reply SpA	23,975		4,441,111	0.1%
#*	Retelit SpA	795,577		1,193,840	0.0%
#*	Rizzoli Corriere Della Sera Mediagroup SpA	347,396		486,246	0.0%
	Sabaf SpA	34,156		560,819	0.0%
#	SAES Getters SpA	43,539		856,038	0.0%
*	Safilo Group SpA	176,776		1,308,755	0.0%
#*	Saipem SpA	3,176,913		11,764,711	0.2%
#	Salini Impregilo SpA	1,310,412		4,535,282	0.1%
#	Salvatore Ferragamo SpA	262,482		7,008,142	0.1%
	Saras SpA	3,129,270		7,293,823	0.1%
	SAVE SpA	91,740		2,176,862	0.1%
	Servizi Italia SpA	40,168		211,256	0.0%
	Sesa SpA	10,318		290,165	0.0%
#*	Snaitech SpA	544,640		992,132	0.0%
	Societa Cattolica di Assicurazioni SCRL	972,786		7,567,810	0.2%
	Societa Iniziative Autostradali e Servizi SpA	362,319		3,992,963	0.1%
#*	Sogefi SpA	323,297		1,725,617	0.0%
	SOL SpA	164,650		1,999,620	0.1%
#	Tamburi Investment Partners SpA	455,377		2,613,663	0.1%
#*	Tiscali SpA	9,160,788		447,942	0.0%
#	Tod's SpA	70,079		4,372,766	0.1%
#*	Trevi Finanziaria Industriale SpA	509,518		390,019	0.0%
	TXT e-solutions SpA	28,342		349,768	0.0%
#	Unione di Banche Italiane SpA	6,512,761		28,060,464	0.5%
	Unipol Gruppo Finanziario SpA	2,680,207		11,759,651	0.2%
#	UnipolSai Assicurazioni SpA	4,233,519		9,287,721	0.2%
	Vittoria Assicurazioni SpA	136,425		1,863,052	0.0%
#*	Yoox Net-A-Porter Group SpA	280,998		7,786,261	0.2%
	Zignago Vetro SpA	145,632		1,222,201	0.0%
TOTAL ITALY				562,632,336	10.5%
NETHERLANDS — (5.0%)
	Aalberts Industries NV	645,848		25,699,741	0.5%
	Accell Group	146,494		4,794,767	0.1%
*	AFC Ajax NV	18,134		233,776	0.0%
	AMG Advanced Metallurgical Group NV	171,531		5,015,288	0.1%
	Amsterdam Commodities NV	101,270		3,296,979	0.1%
	APERAM SA	297,594		13,818,987	0.3%
#	Arcadis NV	466,494		8,426,646	0.2%
	ASM International NV	314,922		18,313,900	0.3%
	BE Semiconductor Industries NV	212,357		11,355,893	0.2%
#	Beter Bed Holding NV	104,326		1,877,290	0.0%
#	BinckBank NV	375,073		1,894,968	0.0%
	Boskalis Westminster	594,181		19,296,594	0.4%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
NETHERLANDS — (Continued)
#	Brunel International NV	138,299	$	1,931,605	0.0%
	Corbion NV	370,580		11,852,037	0.2%
#	Flow Traders	96,337		2,658,456	0.1%
*	Fugro NV	381,770		5,667,469	0.1%
#	Gemalto NV(B9MS8P5)	304,031		18,234,864	0.3%
	Gemalto NV(B011JK4)	231,595		13,900,324	0.3%
#*	Heijmans NV	141,912		1,137,790	0.0%
	Hunter Douglas NV	17,720		1,504,591	0.0%
	IMCD Group NV	127,466		6,905,770	0.1%
	Intertrust NV	44,397		899,250	0.0%
	KAS Bank NV	86,435		966,902	0.0%
	Kendrion NV	79,933		3,277,662	0.1%
#	Koninklijke BAM Groep NV	1,889,768		10,281,649	0.2%
	Koninklijke Vopak NV	351,771		16,300,652	0.3%
*	Lucas Bols NV	2,309		54,389	0.0%
	Nederland Apparatenfabriek	27,865		1,240,072	0.0%
#*	OCI NV	531,075		11,693,656	0.2%
#	Ordina NV	866,273		1,550,562	0.0%
#	PostNL NV	2,599,766		12,132,352	0.2%
	Refresco Group NV	179,785		3,667,392	0.1%
	SBM Offshore NV	1,191,247		19,082,155	0.4%
	Sligro Food Group NV	152,751		6,705,282	0.1%
*	Telegraaf Media Groep NV	170,034		1,197,933	0.0%
	TKH Group NV	240,336		13,340,930	0.3%
*	TomTom NV	809,617		7,748,073	0.1%
	Van Lanschot Kempen NV	57,666		1,598,083	0.0%
#	Wessanen	473,278		8,013,499	0.2%
TOTAL NETHERLANDS				297,568,228	5.5%
NORWAY — (2.2%)
#	ABG Sundal Collier Holding ASA	2,003,781		1,290,124	0.0%
	AF Gruppen ASA	29,505		530,000	0.0%
#*	Akastor ASA	1,076,530		1,778,631	0.0%
	Aker ASA Class A	15,946		523,643	0.0%
*	Aker Solutions ASA	856,751		3,876,443	0.1%
	American Shipping Co. ASA	234,848		701,303	0.0%
*	Archer, Ltd.	309,786		363,959	0.0%
	Arendals Fossekompani A.S.	90		30,766	0.0%
#	Atea ASA	409,219		5,491,916	0.1%
	Austevoll Seafood ASA	517,682		4,399,618	0.1%
#	Avance Gas Holding, Ltd.	376,095		951,654	0.0%
#*	Axactor AB	5,455,611		1,432,097	0.0%
	Bakkafrost P/F	211,039		7,946,765	0.2%
*	Biotec Pharmacon ASA	62,791		40,657	0.0%
	Bonheur ASA	140,320		1,285,814	0.0%
	Borregaard ASA	526,278		6,495,440	0.1%
#	BW LPG, Ltd.	524,093		1,823,665	0.0%
#*	BW Offshore, Ltd.	863,791		2,173,594	0.1%
#*	DNO ASA	3,859,961		3,540,168	0.1%
#*	DOF ASA	1,658,800		156,961	0.0%
#	Ekornes ASA	123,183		1,700,389	0.0%
	Entra ASA	141,667		1,763,975	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
NORWAY — (Continued)
#*	Fred Olsen Energy ASA	247,595	$	387,769	0.0%
#	Frontline, Ltd.	344,307		1,944,574	0.0%
#*	Funcom NV	835,906		242,228	0.0%
	Grieg Seafood ASA	295,582		2,058,658	0.0%
#*	Hexagon Composites ASA	437,202		1,428,285	0.0%
	Hoegh LNG Holdings, Ltd.	279,030		2,781,989	0.1%
*	Kongsberg Automotive ASA	2,171,519		1,924,815	0.0%
#	Kongsberg Gruppen ASA	107,905		1,719,305	0.0%
*	Kvaerner ASA	1,616,475		1,979,428	0.0%
#*	NEL ASA	2,250,185		619,155	0.0%
#*	Nordic Nanovector ASA	103,145		950,504	0.0%
#*	Nordic Semiconductor ASA	703,953		2,803,174	0.1%
#*	Norwegian Air Shuttle ASA	154,653		4,503,743	0.1%
#*	Norwegian Finans Holding ASA	218,800		2,018,045	0.0%
	Norwegian Property ASA	44,590		54,966	0.0%
#	Ocean Yield ASA	248,488		1,942,538	0.0%
*	Odfjell Drilling, Ltd.	147,404		332,499	0.0%
	Odfjell SE Class A	134,257		498,925	0.0%
	Olav Thon Eiendomsselskap ASA	115,054		2,314,814	0.1%
	Opera Software ASA	528,153		2,068,339	0.1%
#*	Petroleum Geo-Services ASA	1,952,682		3,402,133	0.1%
#*	PhotoCure ASA	65,557		205,494	0.0%
#*	Prosafe SE	139,937		464,709	0.0%
#	Protector Forsikring ASA	344,892		2,890,494	0.1%
#*	Q-Free ASA	179,836		174,331	0.0%
#*	REC Silicon ASA	14,281,005		1,854,633	0.0%
	Scatec Solar ASA	372,800		2,111,102	0.1%
#*	Seadrill, Ltd.	463,580		170,655	0.0%
	Selvaag Bolig ASA	161,461		622,232	0.0%
#*	Sevan Marine ASA	124,800		215,008	0.0%
	Skandiabanken ASA	142,878		1,351,677	0.0%
	Solon Eiendom ASA	3,712		7,633	0.0%
#*	Solstad Farstad ASA	99,014		113,632	0.0%
#*	Songa Offshore	180,003		690,394	0.0%
	SpareBank 1 SMN	2,422		20,829	0.0%
	SpareBank 1 SR-Bank ASA	290,094		2,484,689	0.1%
	Stolt-Nielsen, Ltd.	151,270		2,124,065	0.1%
	Storebrand ASA	33,758		232,944	0.0%
#	TGS NOPEC Geophysical Co. ASA	381,071		7,818,566	0.2%
	Tomra Systems ASA	647,834		7,917,078	0.2%
	Treasure ASA	300,823		576,106	0.0%
	Veidekke ASA	443,333		5,794,391	0.1%
*	Wallenius Wilhelmsen Logistics	306,364		1,804,971	0.0%
	Wilh Wilhelmsen Holding ASA Class A	68,692		2,035,196	0.0%
#	XXL ASA	282,495		2,717,033	0.1%
TOTAL NORWAY				128,671,330	2.4%
PORTUGAL — (1.0%)
	Altri SGPS SA	577,518		2,659,771	0.1%
*	Banco Comercial Portugues SA Class R	67,212,193		18,086,544	0.3%
	CTT-Correios de Portugal SA	692,539		4,382,074	0.1%
	EDP Renovaveis SA	182,845		1,453,395	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
PORTUGAL — (Continued)
	Ibersol SGPS SA	24,481	$	396,304	0.0%
	Mota-Engil SGPS SA	850,092		2,357,633	0.0%
	Navigator Co. SA (The)	2,010,412		8,676,176	0.2%
	NOS SGPS SA	1,118,059		6,785,487	0.1%
	Novabase SGPS SA	65,729		240,531	0.0%
#	REN - Redes Energeticas Nacionais SGPS SA	1,468,029		4,599,048	0.1%
	Semapa-Sociedade de Investimento e Gestao	128,708		2,495,831	0.1%
	Sonae Capital SGPS SA	768,579		791,914	0.0%
	Sonae SGPS SA	5,934,800		6,594,402	0.1%
	Teixeira Duarte SA	710,639		305,183	0.0%
TOTAL PORTUGAL				59,824,293	1.1%
SPAIN — (5.5%)
	Acciona SA	194,158		17,094,237	0.3%
	Acerinox SA	935,350		12,826,913	0.2%
#	Adveo Group International SA	104,096		391,096	0.0%
	Alantra Partners SA	28,485		370,624	0.0%
	Almirall SA	364,691		5,940,597	0.1%
#*	Amper SA	4,762,732		1,204,198	0.0%
	Applus Services SA	679,928		8,578,188	0.2%
	Atresmedia Corp. de Medios de Comunicacion SA	489,833		5,735,863	0.1%
	Azkoyen SA	64,022		533,541	0.0%
*	Banco Popular Espanol SA	2,854,766		—	0.0%
*	Baron de Ley	13,360		1,710,216	0.0%
#	Bolsas y Mercados Espanoles SHMSF SA	410,153		14,824,310	0.3%
	Cellnex Telecom SA	801,498		16,564,139	0.3%
	Cia de Distribucion Integral Logista Holdings SA	242,484		6,381,553	0.1%
	Cie Automotive SA	249,123		5,727,352	0.1%
	Clinica Baviera SA	3,698		43,248	0.0%
	Construcciones y Auxiliar de Ferrocarriles SA	91,240		3,745,430	0.1%
#*	Deoleo SA	1,441,512		329,169	0.0%
#	Distribuidora Internacional de Alimentacion SA	3,425,777		21,378,135	0.4%
#*	Duro Felguera SA	489,623		346,445	0.0%
	Ebro Foods SA	366,900		8,390,585	0.2%
*	eDreams ODIGEO SA	314,785		1,082,608	0.0%
#	Elecnor SA	198,822		2,754,567	0.1%
	Ence Energia y Celulosa SA	1,045,746		4,290,445	0.1%
*	Ercros SA	793,700		2,962,439	0.1%
	Euskaltel SA	431,467		4,602,605	0.1%
	Faes Farma SA	1,444,899		4,801,680	0.1%
	Fluidra SA	239,196		1,747,585	0.0%
#*	Fomento de Construcciones y Contratas SA	127,613		1,379,145	0.0%
	Grupo Catalana Occidente SA	228,086		9,614,824	0.2%
*	Grupo Empresarial San Jose SA	91,203		371,156	0.0%
#*	Grupo Ezentis SA	1,075,120		900,986	0.0%
	Iberpapel Gestion SA	42,701		1,458,980	0.0%
*	Indra Sistemas SA	705,130		10,176,831	0.2%
	Inmobiliaria Colonial SA	1,694,269		14,781,777	0.3%
	Inmobiliaria del Sur SA	2,902		32,944	0.0%
#	Laboratorios Farmaceuticos Rovi SA	68,607		1,338,796	0.0%
#*	Liberbank SA	2,372,859		2,444,199	0.0%
	Mediaset Espana Comunicacion SA	1,004,667		12,511,659	0.2%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SPAIN — (Continued)
	Melia Hotels International SA	459,423	$	6,880,967	0.1%
	Miquel y Costas & Miquel SA	77,498		2,833,141	0.1%
*	NH Hotel Group SA	1,358,586		8,191,854	0.2%
#	Obrascon Huarte Lain SA	911,389		3,282,957	0.1%
	Papeles y Cartones de Europa SA	297,375		2,545,805	0.1%
*	Pescanova SA	68,547		137,635	0.0%
*	Pharma Mar SA	1,078,930		4,859,184	0.1%
	Prim SA	39,424		503,459	0.0%
#*	Promotora de Informaciones SA Class A	284,300		763,592	0.0%
	Prosegur Cia de Seguridad SA	1,400,764		9,110,020	0.2%
#*	Quabit Inmobiliaria SA	312,740		634,018	0.0%
*	Realia Business SA	1,039,397		1,278,422	0.0%
#*	Sacyr SA	2,572,214		6,832,413	0.1%
	Saeta Yield SA	188,589		2,133,943	0.0%
	Siemens Gamesa Renewable Energy SA	977,004		20,903,522	0.4%
#*	Solaria Energia y Medio Ambiente SA	298,467		466,485	0.0%
#	Talgo SA	489,109		2,954,349	0.1%
#	Tecnicas Reunidas SA	189,544		7,344,718	0.1%
	Tubacex SA	724,309		2,754,614	0.1%
#*	Tubos Reunidos SA	776,287		1,081,482	0.0%
	Vidrala SA	84,838		6,006,490	0.1%
#	Viscofan SA	246,069		14,580,730	0.3%
*	Vocento SA	263,636		480,166	0.0%
	Zardoya Otis SA	812,940		8,419,739	0.2%
TOTAL SPAIN				324,348,770	6.1%
SWEDEN — (7.2%)
	AAK AB	121,469		8,873,364	0.2%
	Acando AB	586,572		1,840,282	0.0%
	AddLife AB	77,913		1,589,584	0.0%
	AddNode Group AB	22,737		217,099	0.0%
	AddTech AB Class B	296,441		5,653,379	0.1%
	AF AB Class B	321,244		6,648,157	0.1%
#	Alimak Group AB	40,079		666,875	0.0%
#*	Anoto Group AB	4,862,822		111,710	0.0%
*	Arise AB	36,861		58,825	0.0%
#	Atrium Ljungberg AB Class B	119,108		1,984,783	0.0%
	Attendo AB	53,527		653,504	0.0%
#	Avanza Bank Holding AB	125,578		5,484,506	0.1%
*	BE Group AB	12,555		102,889	0.0%
	Beijer Alma AB	115,679		3,404,706	0.1%
#*	Beijer Electronics Group AB	53,995		283,636	0.0%
	Beijer Ref AB	71,389		1,973,996	0.0%
	Bergman & Beving AB	144,190		2,127,986	0.0%
	Betsson AB	526,477		4,564,828	0.1%
	Bilia AB Class A	634,778		6,275,256	0.1%
	BillerudKorsnas AB	76,671		1,211,717	0.0%
	BioGaia AB Class B	92,718		3,768,708	0.1%
#*	BioInvent International AB	515,778		149,346	0.0%
	Biotage AB	305,541		2,064,781	0.0%
#	Bjorn Borg AB	82,051		316,235	0.0%
#	Bonava AB	9,670		165,142	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWEDEN — (Continued)
	Bonava AB Class B	226,454	$	3,871,632	0.1%
	Bufab AB	47,301		523,311	0.0%
	Bulten AB	92,534		1,319,831	0.0%
	Bure Equity AB	335,255		3,900,106	0.1%
#	Byggmax Group AB	372,728		2,711,209	0.1%
#	Catena AB	68,933		1,109,944	0.0%
#	Cavotec SA	28,745		107,975	0.0%
	Clas Ohlson AB Class B	214,919		4,135,599	0.1%
	Cloetta AB Class B	1,447,612		5,963,789	0.1%
*	Collector AB	38,748		438,425	0.0%
	Com Hem Holding AB	570,374		7,927,374	0.2%
	Concentric AB	370,988		6,063,005	0.1%
	Concordia Maritime AB Class B	100,760		158,003	0.0%
	Coor Service Management Holding AB	35,350		251,735	0.0%
	Corem Property Group AB Class B	2,296		11,519	0.0%
	Dedicare AB Class B	16,704		238,265	0.0%
	Dios Fastigheter AB	604,286		3,342,503	0.1%
	Dometic Group AB	35,797		310,971	0.0%
#	Doro AB	157,429		1,018,730	0.0%
	Duni AB	210,955		3,084,465	0.1%
#	Dustin Group AB	213,079		1,769,673	0.0%
	Eastnine AB	78,409		656,136	0.0%
	Elanders AB Class B	31,478		426,847	0.0%
#*	Eltel AB(BVRZ9V8)	76,853		266,731	0.0%
#*	Eltel AB(BF2NYP4)	115,279		399,557	0.0%
	Enea AB	63,008		544,826	0.0%
	eWork Group AB	22,308		269,168	0.0%
	Fabege AB	666,527		12,831,155	0.2%
#	Fagerhult AB	208,317		3,004,531	0.1%
#	Fenix Outdoor International AG	10,985		1,183,882	0.0%
#*	Fingerprint Cards AB Class B	142,652		519,990	0.0%
	Granges AB	472,903		4,350,832	0.1%
	Gunnebo AB	205,151		1,135,347	0.0%
*	Haldex AB	218,762		2,754,154	0.1%
	Heba Fastighets AB Class B	42,288		566,313	0.0%
	Hemfosa Fastigheter AB	731,898		7,906,487	0.2%
	Hexpol AB	442,282		4,828,783	0.1%
	HIQ International AB	297,368		2,019,316	0.0%
	HMS Networks AB	26,372		329,205	0.0%
#	Hoist Finance AB	157,751		1,611,899	0.0%
	Holmen AB Class B	261,612		11,354,631	0.2%
	Hufvudstaden AB Class A	190,238		3,156,563	0.1%
#	Indutrade AB	442,678		10,147,075	0.2%
#	Intrum Justitia AB	389,858		13,239,690	0.3%
	Inwido AB	303,808		4,268,537	0.1%
#	ITAB Shop Concept AB Class B	107,576		957,773	0.0%
	JM AB	392,486		13,905,604	0.3%
	KappAhl AB	420,801		2,287,690	0.1%
#	Karo Pharma AB	228,091		1,178,155	0.0%
#	Kindred Group P.L.C.	1,251,492		14,168,696	0.3%
#	Klovern AB Class B	2,502,421		2,739,216	0.1%
	KNOW IT AB	90,906		1,400,738	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWEDEN — (Continued)
#	Kungsleden AB	1,024,206	$	6,279,579	0.1%
	Lagercrantz Group AB Class B	330,753		3,633,668	0.1%
	Lifco AB Class B	54,552		1,751,413	0.0%
	Lindab International AB	468,066		5,103,528	0.1%
	Loomis AB Class B	392,752		14,077,619	0.3%
*	Medivir AB Class B	157,280		1,365,052	0.0%
#	Mekonomen AB	149,584		2,965,358	0.1%
	Modern Times Group MTG AB Class B	319,844		11,009,265	0.2%
*	Momentum Group AB Class B	144,190		1,394,885	0.0%
	MQ Holding AB	190,110		743,071	0.0%
#	Mycronic AB	464,036		4,228,897	0.1%
	NCC AB Class B	513,349		14,459,822	0.3%
#	Nederman Holding AB	4,621		128,921	0.0%
#*	Net Insight AB Class B	735,492		570,711	0.0%
	NetEnt AB	953,177		8,328,851	0.2%
	New Wave Group AB Class B	319,163		2,152,809	0.1%
	Nobia AB	745,291		7,528,119	0.2%
	Nobina AB	321,710		1,745,712	0.0%
	Nolato AB Class B	160,497		6,028,742	0.1%
#	NP3 Fastigheter AB	27,442		152,661	0.0%
	OEM International AB Class B	44,190		1,017,368	0.0%
	Opus Group AB	1,289,836		1,086,343	0.0%
#*	Orexo AB	6,681		21,651	0.0%
	Oriflame Holding AG	242,872		9,123,646	0.2%
	Pandox AB	47,411		845,685	0.0%
	Peab AB	876,860		10,638,685	0.2%
	Pricer AB Class B	832,220		972,149	0.0%
	Proact IT Group AB	50,363		1,224,454	0.0%
	Probi AB	3,809		262,385	0.0%
#*	Qliro Group AB	795,678		1,472,927	0.0%
#	Ratos AB Class B	1,504,874		7,177,766	0.1%
#*	RaySearch Laboratories AB	124,213		3,472,864	0.1%
#	Recipharm AB Class B	155,333		2,273,479	0.1%
	Rezidor Hotel Group AB	426,060		1,574,036	0.0%
	Rottneros AB	484,842		463,730	0.0%
	Saab AB Class B	27,191		1,343,842	0.0%
#	Sagax AB Class B	126,165		1,511,367	0.0%
#*	SAS AB	814,391		1,776,278	0.0%
	Scandi Standard AB	215,392		1,562,089	0.0%
	Scandic Hotels Group AB	74,926		974,023	0.0%
	Sectra AB Class B	59,543		1,226,729	0.0%
	Semcon AB	103,281		777,962	0.0%
#*	Sensys Gatso Group AB	1,035,356		96,701	0.0%
	SkiStar AB	132,817		3,082,277	0.1%
*	SSAB AB Class A	186,603		853,857	0.0%
*	SSAB AB Class B(B17H3F6)	374,337		1,388,613	0.0%
*	SSAB AB Class B(BPRBWM6)	1,119,901		4,149,220	0.1%
	Sweco AB Class B	326,793		8,085,054	0.2%
	Swedol AB Class B	81,005		274,480	0.0%
	Systemair AB	72,623		1,267,508	0.0%
	Thule Group AB	368,525		6,922,014	0.1%
#*	Tobii AB	49,569		231,638	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWEDEN — (Continued)
	Troax Group AB	4,285	$	112,879	0.0%
	VBG Group AB Class B	9,770		168,881	0.0%
#	Victoria Park AB Class B	559,976		1,868,237	0.0%
#	Vitrolife AB	71,728		4,508,115	0.1%
	Wallenstam AB Class B	906,444		8,740,870	0.2%
	Wihlborgs Fastigheter AB	385,249		8,145,243	0.2%
TOTAL SWEDEN				427,202,613	8.0%
SWITZERLAND — (10.8%)
	Allreal Holding AG	65,003		11,762,485	0.2%
*	Alpiq Holding AG	6,898		589,578	0.0%
	ALSO Holding AG	27,947		3,589,098	0.1%
#	ams AG	372,640		24,181,321	0.5%
	APG SGA SA	7,581		3,676,961	0.1%
#*	Arbonia AG	228,755		4,184,652	0.1%
#	Aryzta AG	368,607		12,156,745	0.2%
	Ascom Holding AG	210,467		4,309,961	0.1%
	Autoneum Holding AG	16,300		4,471,724	0.1%
	Bachem Holding AG Class B	23,344		2,663,258	0.1%
	Baloise Holding AG	39,603		6,134,492	0.1%
	Bank Cler AG	30,867		1,356,790	0.0%
	Banque Cantonale de Geneve	8,078		1,323,391	0.0%
	Banque Cantonale du Jura SA	4,442		256,376	0.0%
	Banque Cantonale Vaudoise	11,753		8,717,061	0.2%
	Belimo Holding AG	2,156		9,288,143	0.2%
	Bell Food Group AG	5,249		2,505,888	0.1%
	Bellevue Group AG	52,658		970,486	0.0%
#	Berner Kantonalbank AG	23,655		4,528,161	0.1%
	BFW Liegenschaften AG	620		29,615	0.0%
	BKW AG	64,177		3,772,500	0.1%
	Bobst Group SA	44,716		4,299,928	0.1%
	Bossard Holding AG Class A	32,905		6,671,307	0.1%
	Bucher Industries AG	33,396		10,506,658	0.2%
#	Burckhardt Compression Holding AG	12,340		3,542,182	0.1%
	Burkhalter Holding AG	20,988		3,003,686	0.1%
	Calida Holding AG	25,084		993,259	0.0%
	Carlo Gavazzi Holding AG	1,916		686,611	0.0%
	Cembra Money Bank AG	135,935		12,882,934	0.2%
	Cham Paper Holding AG	1,894		758,404	0.0%
*	Cicor Technologies, Ltd.	8,666		443,054	0.0%
	Cie Financiere Tradition SA	9,836		956,434	0.0%
	Clariant AG	815,669		18,004,881	0.3%
	Coltene Holding AG	20,595		2,127,244	0.0%
	Conzzeta AG	6,901		6,834,867	0.1%
#	Daetwyler Holding AG	37,940		6,462,000	0.1%
	DKSH Holding AG	123,906		10,073,833	0.2%
	dormakaba Holding AG	16,675		14,512,419	0.3%
	Edmond de Rothschild Suisse SA	56		953,436	0.0%
#	EFG International AG	467,927		3,037,042	0.1%
	Emmi AG	12,810		9,648,239	0.2%
	Energiedienst Holding AG	68,912		1,904,301	0.0%
#*	Evolva Holding SA	1,761,042		771,894	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWITZERLAND — (Continued)
	Feintool International Holding AG	7,642	$	950,588	0.0%
	Flughafen Zurich AG	95,396		23,429,267	0.4%
	Forbo Holding AG	6,853		11,270,369	0.2%
	GAM Holding AG	1,035,728		13,925,190	0.3%
	Georg Fischer AG	22,880		22,193,118	0.4%
	Gurit Holding AG	2,329		2,800,877	0.1%
	Helvetia Holding AG	36,269		20,800,467	0.4%
	Hiag Immobilien Holding AG	2,795		361,088	0.0%
#	HOCHDORF Holding AG	5,428		1,730,386	0.0%
	Huber & Suhner AG	72,236		5,401,861	0.1%
	Implenia AG	85,074		6,381,369	0.1%
	Inficon Holding AG	9,382		4,636,573	0.1%
	Interroll Holding AG	3,127		4,175,218	0.1%
	Intershop Holding AG	8,065		4,045,448	0.1%
#	Jungfraubahn Holding AG	5,914		699,679	0.0%
	Kardex AG	35,549		4,090,983	0.1%
#	Komax Holding AG	18,489		5,408,987	0.1%
	Kudelski SA	197,997		3,379,374	0.1%
*	Lastminute.com NV	6,959		94,516	0.0%
	LEM Holding SA	3,773		4,880,659	0.1%
	Liechtensteinische Landesbank AG	36,484		1,864,243	0.0%
	Logitech International SA	708,858		26,083,801	0.5%
#	Luzerner Kantonalbank AG	16,857		7,653,987	0.1%
	MCH Group AG	2,781		228,689	0.0%
	Metall Zug AG Class B	894		3,885,105	0.1%
#*	Meyer Burger Technology AG	2,370,456		2,963,095	0.1%
	Mobilezone Holding AG	133,170		1,959,950	0.0%
	Mobimo Holding AG	34,840		9,780,909	0.2%
#	OC Oerlikon Corp. AG	1,090,782		14,355,382	0.3%
#*	Orascom Development Holding AG	60,240		377,925	0.0%
#	Orell Fuessli Holding AG	5,028		685,619	0.0%
	Orior AG	29,509		2,347,435	0.0%
#	Panalpina Welttransport Holding AG	63,044		8,897,291	0.2%
#	Phoenix Mecano AG	3,266		1,955,425	0.0%
	Plazza AG Class A	5,940		1,432,892	0.0%
	PSP Swiss Property AG	206,934		19,361,306	0.4%
	Rieter Holding AG	17,376		3,957,801	0.1%
#	Romande Energie Holding SA	2,625		3,568,562	0.1%
#*	Schaffner Holding AG	2,950		980,835	0.0%
*	Schmolz + Bickenbach AG	2,988,059		2,784,261	0.1%
	Schweiter Technologies AG	4,863		6,303,219	0.1%
	SFS Group AG	46,919		5,324,992	0.1%
	Siegfried Holding AG	21,530		6,084,740	0.1%
	St Galler Kantonalbank AG	11,846		5,234,954	0.1%
	Sulzer AG	107,928		12,240,477	0.2%
	Sunrise Communications Group AG	164,337		12,957,523	0.2%
	Swiss Prime Site AG	139,414		12,675,558	0.2%
	Swissquote Group Holding SA	47,918		1,325,046	0.0%
	Tamedia AG	14,493		2,311,821	0.0%
	Tecan Group AG	46,359		8,729,706	0.2%
	Temenos Group AG	318,043		28,453,089	0.5%
	Thurgauer Kantonalbank	1,541		160,790	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWITZERLAND — (Continued)
	u-blox Holding AG	30,554	$	5,735,468	0.1%
	Valiant Holding AG	99,933		11,529,588	0.2%
	Valora Holding AG	15,777		5,043,232	0.1%
	Vaudoise Assurances Holding SA	5,615		3,113,921	0.1%
	Vetropack Holding AG	1,088		2,352,074	0.0%
*	Von Roll Holding AG	270,044		403,675	0.0%
	Vontobel Holding AG	136,975		8,923,732	0.2%
	VP Bank AG	11,239		1,396,184	0.0%
	VZ Holding AG	11,594		3,723,401	0.1%
	Walliser Kantonalbank	17,172		1,604,504	0.0%
#	Walter Meier AG	22,913		1,032,488	0.0%
	Ypsomed Holding AG	16,382		3,321,874	0.1%
	Zehnder Group AG	60,690		2,210,272	0.0%
#	Zug Estates Holding AG Class B	833		1,605,196	0.0%
	Zuger Kantonalbank AG	643		3,554,365	0.1%
TOTAL SWITZERLAND				642,675,718	12.0%
UNITED STATES — (0.0%)
	Sapiens International Corp. NV	69,772		798,161	0.0%
TOTAL COMMON STOCKS				5,278,494,673	98.6%
PREFERRED STOCKS — (0.8%)
GERMANY — (0.8%)
#	Biotest AG	89,937		2,261,911	0.0%
	Draegerwerk AG & Co. KGaA	37,880		3,991,553	0.1%
#	Fuchs Petrolub SE	212,417		11,577,353	0.2%
	Jungheinrich AG	245,511		8,996,340	0.2%
#	Sartorius AG	117,258		11,338,342	0.2%
	Sixt SE	68,287		3,388,796	0.1%
	STO SE & Co. KGaA	8,021		1,043,506	0.0%
	Villeroy & Boch AG	42,172		934,370	0.0%
TOTAL GERMANY				43,532,171	0.8%
TOTAL PREFERRED STOCKS				43,532,171	0.8%
RIGHTS/WARRANTS — (0.0%)
AUSTRIA — (0.0%)
*	Intercell AG Rights 05/16/13	254,689		—	0.0%
FRANCE — (0.0%)
*	Maurel et prom Rights 12/31/00	844,597		—	0.0%
ISRAEL — (0.0%)
*	Airport City, Ltd. 7/4/17	22,133		74,995	0.0%
SPAIN — (0.0%)
*	Sacyr SA Right 7/16/17	2,572,214		205,650	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SPAIN — (Continued)
#*	Talgo SA Right 6/28/17	483,535	$	38,968	0.0%
TOTAL SPAIN				244,618	0.0%
TOTAL RIGHTS/WARRANTS				319,613	0.0%
TOTAL INVESTMENT SECURITIES				5,322,346,457
			Value†
SECURITIES LENDING COLLATERAL — (10.2%)
§@	DFA Short Term Investment Fund	52,442,975		606,870,102	11.3%
TOTAL INVESTMENTS — (100.0%) (Cost $4,488,167,344)^			$	5,929,216,559	110.7%

THE CANADIAN SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

June 30, 2017
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (79.8%)
Consumer Discretionary — (7.6%)
	Aimia, Inc.	893,217	$	1,191,599	0.1%
	Amaya, Inc.	667,513		11,931,640	0.9%
#*	AutoCanada, Inc.	184,038		2,707,777	0.2%
#*	BMTC Group, Inc.	17,481		149,966	0.0%
#*	BRP, Inc.	224,151		6,566,546	0.5%
#*	Cara Operations, Ltd.	70,000		1,271,746	0.1%
	Cineplex, Inc.	355,683		14,498,306	1.1%
	Cogeco Communications, Inc.	83,956		5,128,127	0.4%
	Cogeco, Inc.	40,668		2,116,818	0.2%
#*	Corus Entertainment, Inc. Class B	740,938		7,787,620	0.6%
	DHX Media, Ltd.(BRF12N3)	363,010		1,603,985	0.1%
#*	DHX Media, Ltd.(BRF12P5)	500,525		2,215,464	0.2%
	Dorel Industries, Inc. Class B	194,080		5,158,804	0.4%
	Enercare, Inc.	628,159		9,552,202	0.8%
#*	Gamehost, Inc.	55,573		396,399	0.0%
	Glacier Media, Inc.	171,625		80,730	0.0%
#*	goeasy, Ltd.	47,733		1,015,909	0.1%
	Great Canadian Gaming Corp.	348,738		6,421,856	0.5%
	Hudson's Bay Co.	412,411		3,679,515	0.3%
	Imvescor Restaurant Group, Inc.	8,800		24,904	0.0%
	Indigo Books & Music, Inc.	2,402		28,728	0.0%
	Leon's Furniture, Ltd.	141,075		1,909,212	0.1%
	Linamar Corp.	193,114		9,518,698	0.8%
	Martinrea International, Inc.	558,856		4,563,761	0.4%
	MTY Food Group, Inc.	104,963		3,752,379	0.3%
#*	Pizza Pizza Royalty Corp.	164,112		2,174,155	0.2%
	Reitmans Canada, Ltd. Class A	260,312		863,157	0.1%
	Sleep Country Canada Holdings, Inc.	119,000		3,776,103	0.3%
#*	Spin Master Corp.	70,300		2,097,941	0.2%
	Torstar Corp. Class B	393,289		451,882	0.0%
	TVA Group, Inc. Class B	7,000		14,035	0.0%
#*	Uni-Select, Inc.	266,570		6,438,134	0.5%
#*	Yellow Pages, Ltd.	147,535		846,438	0.1%
	Zenith Capital Corp.	111,820		6,984	0.0%
Total Consumer Discretionary				119,941,520	9.5%
Consumer Staples — (4.0%)
#*	AGT Food & Ingredients, Inc.	125,802		2,258,383	0.2%
	Andrew Peller, Ltd. Class A	84,800		716,039	0.1%
	Clearwater Seafoods, Inc.	101,057		889,937	0.1%
#*	Colabor Group, Inc.	68,300		50,035	0.0%
	Corby Spirit and Wine, Ltd.	73,867		1,208,142	0.1%
#*	Cott Corp.(22163N106)	96,682		1,396,088	0.1%
	Cott Corp.(2228952)	747,076		10,790,202	0.8%
	High Liner Foods, Inc.	97,291		1,312,168	0.1%
	Jean Coutu Group PJC, Inc. (The) Class A	425,576		6,530,662	0.5%
	KP Tissue, Inc.	3,100		33,969	0.0%
	Lassonde Industries, Inc. Class A	4,500		851,835	0.1%
	Liquor Stores N.A., Ltd.	200,211		1,517,639	0.1%
	Maple Leaf Foods, Inc.	383,945		9,693,368	0.8%

The Canadian Small Company Series
Continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
	Neptune Technologies & Bioressources, Inc.	22,102	$	18,748	0.0%
#*	North West Co., Inc. (The)	316,536		7,630,256	0.6%
#*	Premium Brands Holdings Corp.	156,662		11,239,846	0.9%
#*	Rogers Sugar, Inc.	621,236		3,037,196	0.2%
#*	SunOpta, Inc.	390,950		3,979,442	0.3%
Total Consumer Staples				63,153,955	5.0%
Energy — (16.5%)
	Advantage Oil & Gas, Ltd.	1,232,675		8,336,335	0.7%
#*	Africa Oil Corp.	1,016,099		1,496,568	0.1%
	AKITA Drilling, Ltd. Class A	40,600		223,851	0.0%
#*	Athabasca Oil Corp.	3,334,197		2,596,807	0.2%
#*	Baytex Energy Corp.	1,311,306		3,185,236	0.3%
#*	Bellatrix Exploration, Ltd.	1,626,593		928,192	0.1%
	Birchcliff Energy, Ltd.	1,092,635		5,148,057	0.4%
#*	BlackPearl Resources, Inc.	1,472,701		1,135,642	0.1%
	Bonavista Energy Corp.	1,393,041		2,911,121	0.2%
#*	Bonterra Energy Corp.	175,395		2,264,121	0.2%
#*	Calfrac Well Services, Ltd.	917,215		1,775,300	0.1%
#*	Canacol Energy, Ltd.	948,442		3,137,581	0.3%
#*	Cardinal Energy, Ltd.	257,790		958,163	0.1%
	Cequence Energy, Ltd.	863,916		133,238	0.0%
	CES Energy Solutions Corp.	513,442		2,288,475	0.2%
#*	Chinook Energy, Inc.	496,199		130,095	0.0%
	Corridor Resources, Inc.	1,246		476	0.0%
	Crew Energy, Inc.	983,376		3,040,822	0.2%
#*	Delphi Energy Corp.	1,019,439		959,065	0.1%
#*	Denison Mines Corp.	3,326,982		1,436,698	0.1%
	Enbridge Income Fund Holdings, Inc.	207,255		5,144,616	0.4%
	Enerflex, Ltd.	597,858		8,676,502	0.7%
#*	Energy Fuels, Inc.	397,690		631,740	0.1%
	Enerplus Corp.	987,251		8,008,853	0.6%
	Ensign Energy Services, Inc.	822,427		4,394,987	0.4%
#*	Epsilon Energy, Ltd.	312,073		729,165	0.1%
	Essential Energy Services Trust	929,741		451,679	0.0%
	Fission Uranium Corp.	1,445,000		679,712	0.1%
#*	Freehold Royalties, Ltd.	571,472		5,750,856	0.5%
	Frontera Energy Corp.	6,100		161,108	0.0%
	GASFRAC Energy Services, Inc.	91,560		9	0.0%
	Gear Energy, Ltd.	404,000		230,537	0.0%
#*	Gibson Energy, Inc.	702,339		9,077,114	0.7%
	Gran Tierra Energy, Inc.	2,753,450		6,115,003	0.5%
#*	Granite Oil Corp.	225,108		803,709	0.1%
	Kelt Exploration, Ltd.	1,232,340		5,967,840	0.5%
	Laramide Resources, Ltd.	22,000		5,683	0.0%
#*	Manitok Energy, Inc.	87,871		5,082	0.0%
#*	MEG Energy Corp.	1,541,043		4,527,586	0.4%
	Mullen Group, Ltd.	601,981		7,427,279	0.6%
#*	Newalta Corp.	602,898		669,473	0.1%
	North American Energy Partners, Inc.	150,534		654,698	0.1%
#*	Northern Blizzard Resources, Inc.	219,900		547,715	0.0%
	NuVista Energy, Ltd.	1,355,826		6,848,134	0.5%

The Canadian Small Company Series
Continued

					Percentage
		Shares	Value††		of Net Assets**
Energy — (Continued)
	Obsidian Energy, Ltd.	3,878,226	$	4,874,698	0.4%
#*	Painted Pony Energy, Ltd.	609,461		2,222,972	0.2%
#*	Paramount Resources, Ltd. Class A	430,942		6,343,833	0.5%
	Parex Resources, Inc.	931,091		10,590,370	0.8%
#*	Parkland Fuel Corp.	561,525		12,864,673	1.0%
	Pason Systems, Inc.	356,252		5,313,012	0.4%
#*	Pengrowth Energy Corp.	3,100,994		2,439,092	0.2%
	Perpetual Energy, Inc.	41,575		45,845	0.0%
	Petrus Resources, Ltd.	19,582		33,975	0.0%
#*	Peyto Exploration & Development Corp.	100,000		1,813,695	0.1%
	PHX Energy Services Corp.	241,574		437,769	0.0%
	Pine Cliff Energy, Ltd.	496,700		294,925	0.0%
#*	Point Loma Resources, Ltd.	5,174		1,556	0.0%
	Precision Drilling Corp.	1,937,603		6,619,048	0.5%
#*	Pulse Seismic, Inc.	296,139		593,740	0.0%
#*	Questerre Energy Corp. Class A	764,460		383,173	0.0%
	Raging River Exploration, Inc.	1,094,651		6,828,908	0.5%
#*	RMP Energy, Inc.	1,017,322		486,382	0.0%
#*	Secure Energy Services, Inc.	1,067,236		7,283,343	0.6%
	ShawCor, Ltd.	269,381		5,500,624	0.4%
#*	Spartan Energy Corp.	807,348		3,828,800	0.3%
	Strad Energy Services, Ltd.	39,947		43,126	0.0%
#*	Surge Energy, Inc.	1,968,637		3,172,772	0.3%
#*	Tamarack Valley Energy, Ltd.	615,983		1,059,255	0.1%
	TORC Oil & Gas, Ltd.	1,005,112		3,929,610	0.3%
	Total Energy Services, Inc.	288,679		2,960,699	0.2%
#*	TransGlobe Energy Corp.	448,945		595,454	0.0%
	Trican Well Service, Ltd.	1,864,840		5,220,057	0.4%
	Trilogy Energy Corp.	387,642		1,455,750	0.1%
	Trinidad Drilling, Ltd.	1,605,084		2,413,567	0.2%
#*	Veresen, Inc.	1,597,192		22,588,295	1.8%
#*	Western Energy Services Corp.	572,897		773,111	0.1%
	Whitecap Resources, Inc.	1,857,311		13,262,415	1.1%
	Xtreme Drilling Corp.	99,561		158,155	0.0%
	Yangarra Resources, Ltd.	394,000		1,014,775	0.1%
#*	ZCL Composites, Inc.	184,027		1,847,649	0.1%
Total Energy				258,890,046	20.5%
Financials — (5.6%)
#*	AGF Management, Ltd. Class B	457,869		2,379,732	0.2%
#*	Alaris Royalty Corp.	214,966		3,817,603	0.3%
#*	Callidus Capital Corp.	86,620		947,156	0.1%
	Canaccord Genuity Group, Inc.	785,765		3,229,586	0.2%
#*	Canadian Western Bank	539,680		11,394,539	0.9%
#*	Chesswood Group, Ltd.	74,242		680,704	0.1%
	Clairvest Group, Inc.	1,900		50,357	0.0%
#*	Clarke, Inc.	17,242		148,381	0.0%
	E-L Financial Corp., Ltd.	3,678		2,396,599	0.2%
#*	Echelon Financial Holdings, Inc.	14,650		151,211	0.0%
#*	ECN Capital Corp.	2,120,906		6,541,968	0.5%
	Element Fleet Management Corp.	118,000		809,840	0.1%
#*	Equitable Group, Inc.	73,624		3,376,894	0.3%

The Canadian Small Company Series
Continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Equity Financial Holdings, Inc.	800	$	4,621	0.0%
	Fiera Capital Corp.	252,637		2,678,716	0.2%
#*	Firm Capital Mortgage Investment Corp.	124,818		1,275,323	0.1%
#*	First National Financial Corp.	99,837		2,090,202	0.2%
#*	Genworth MI Canada, Inc.	364,580		10,031,011	0.8%
	Gluskin Sheff + Associates, Inc.	207,896		2,685,270	0.2%
	GMP Capital, Inc.	309,287		758,430	0.1%
	Guardian Capital Group, Ltd. Class A	38,697		780,326	0.1%
#*	Home Capital Group, Inc.	350,158		4,587,588	0.3%
	Kingsway Financial Services, Inc.	13,070		80,127	0.0%
#*	Laurentian Bank of Canada	231,446		9,667,975	0.8%
#*	Sprott, Inc.	1,510,888		2,656,403	0.2%
#*	Street Capital Group, Inc.	120,227		125,159	0.0%
	Timbercreek Financial Corp.	272,400		1,968,220	0.1%
	TMX Group, Ltd.	237,058		12,898,529	1.0%
Total Financials				88,212,470	7.0%
Health Care — (1.5%)
	Concordia International Corp.	65,542		101,918	0.0%
#*	CRH Medical Corp.	488,496		2,779,997	0.2%
#*	Extendicare, Inc.	609,971		4,868,291	0.4%
	Knight Therapeutics, Inc.	762,325		6,048,985	0.5%
	Medical Facilities Corp.	207,969		2,347,830	0.2%
#*	Merus Labs International, Inc.	469,445		593,684	0.1%
	Novelion Therapeutics, Inc.	43,802		404,293	0.0%
#*	Sienna Senior Living, Inc.	313,615		4,345,822	0.3%
#*	Theratechnologies, Inc.	382,901		2,533,383	0.2%
#*	Valeant Pharmaceuticals International, Inc.	79		1,373	0.0%
Total Health Care				24,025,576	1.9%
Industrials — (9.4%)
	Aecon Group, Inc.	443,201		5,516,089	0.4%
#*	Ag Growth International, Inc.	99,871		4,445,214	0.4%
	Algoma Central Corp.	31,090		310,708	0.0%
	ATS Automation Tooling Systems, Inc.	547,230		5,608,179	0.5%
#*	Badger Daylighting, Ltd.	225,381		4,626,498	0.4%
#*	Ballard Power Systems, Inc.	32,234		92,964	0.0%
	Bird Construction, Inc.	268,333		1,762,953	0.1%
#*	Black Diamond Group, Ltd.	360,892		768,092	0.1%
	Calian Group, Ltd.	28,455		603,418	0.1%
#*	CanWel Building Materials Group, Ltd.	247,022		1,249,587	0.1%
#*	Cargojet, Inc.	17,649		646,595	0.1%
#*	Cervus Equipment Corp.	37,897		323,504	0.0%
	DIRTT Environmental Solutions	321,568		1,698,597	0.1%
#*	Exchange Income Corp.	113,984		2,905,854	0.2%
	Exco Technologies, Ltd.	174,165		1,434,363	0.1%
	Finning International, Inc.	293,478		5,752,784	0.5%
	GDI Integrated Facility Services, Inc.	700		8,372	0.0%
	Heroux-Devtek, Inc.	174,954		1,973,764	0.2%
#*	HNZ Group, Inc.	23,088		249,432	0.0%
#*	Horizon North Logistics, Inc.	894,144		917,035	0.1%
	IBI Group, Inc.	81,600		414,670	0.0%

The Canadian Small Company Series
Continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#*	K-Bro Linen, Inc.	41,353	$	1,291,484	0.1%
	Logistec Corp. Class B	300		8,051	0.0%
#*	MacDonald Dettwiler & Associates, Ltd.	200,472		10,431,717	0.8%
	Magellan Aerospace Corp.	90,076		1,405,875	0.1%
	Morneau Shepell, Inc.	311,711		5,009,298	0.4%
#*	NAPEC, Inc.	53,200		47,588	0.0%
#*	New Flyer Industries, Inc.	254,471		10,643,512	0.8%
	Richelieu Hardware, Ltd.	282,455		6,545,167	0.5%
	Rocky Mountain Dealerships, Inc.	98,255		753,884	0.1%
	Russel Metals, Inc.	390,906		7,825,354	0.6%
	Savaria Corp.	101,700		1,250,076	0.1%
#*	Stantec, Inc.(2854238)	557,929		14,047,179	1.1%
	Stantec, Inc.(85472N109)	2,648		66,465	0.0%
#*	Stuart Olson, Inc.	130,159		534,969	0.0%
#*	Student Transportation, Inc.	541,826		3,284,047	0.3%
#*	TFI International, Inc.	524,953		11,322,436	0.9%
	Toromont Industries, Ltd.	431,613		15,889,269	1.3%
	Transcontinental, Inc. Class A	409,776		8,120,946	0.6%
	Wajax Corp.	130,838		2,284,217	0.2%
	WestJet Airlines, Ltd.	6,379		113,876	0.0%
#*	Westport Fuel Systems, Inc.	17,150		40,733	0.0%
#*	Westshore Terminals Investment Corp.	342,649		5,551,400	0.4%
Total Industrials				147,776,215	11.7%
Information Technology — (3.9%)
	5N Plus, Inc.	406,229		1,011,813	0.1%
	Absolute Software Corp.	243,288		1,440,817	0.1%
#*	Avigilon Corp.	267,994		2,973,808	0.2%
	BSM Technologies, Inc.	28,600		35,066	0.0%
	Celestica, Inc.(15101Q108)	36,408		494,421	0.0%
	Celestica, Inc.(2263362)	804,865		10,935,936	0.9%
	Computer Modelling Group, Ltd.	465,152		3,651,486	0.3%
	Descartes Systems Group, Inc. (The)	405,356		9,861,954	0.8%
	Enghouse Systems, Ltd.	113,857		4,613,807	0.4%
#*	Evertz Technologies, Ltd.	159,053		2,183,177	0.2%
#*	EXFO, Inc.	60,487		282,192	0.0%
	Kinaxis, Inc.	95,672		5,956,630	0.5%
#*	Mediagrif Interactive Technologies, Inc.	18,870		223,797	0.0%
#*	Mitel Networks Corp.	583,224		4,286,029	0.3%
	Points International, Ltd.(2556879)	36,359		328,599	0.0%
	Points International, Ltd.(730843208)	3,323		30,040	0.0%
	Pure Technologies, Ltd.	171,745		647,620	0.1%
#*	Quarterhill, Inc.	780,333		1,125,249	0.1%
	Sandvine Corp.	1,088,669		3,601,473	0.3%
#*	Sierra Wireless, Inc.(2418968)	193,247		5,427,248	0.4%
	Sierra Wireless, Inc.(826516106)	10,722		301,288	0.0%
	Solium Capital, Inc.	108,306		819,310	0.1%
#*	UrtheCast Corp.	502,014		468,412	0.0%
	Vecima Networks, Inc.	6,059		46,723	0.0%
Total Information Technology				60,746,895	4.8%

The Canadian Small Company Series
Continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (23.8%)
#*	Acadian Timber Corp.	57,238	$	831,116	0.1%
#*	AirBoss of America Corp.	100,462		1,014,846	0.1%
#*	Alacer Gold Corp.	1,773,848		2,845,160	0.2%
	Alamos Gold, Inc. Class A	2,076,629		14,732,409	1.2%
#*	Alio Gold, Inc.	195,218		883,661	0.1%
#*	Altius Minerals Corp.	213,700		1,778,087	0.1%
	Americas Silver Corp.	137,208		394,654	0.0%
#*	Amerigo Resources, Ltd.	296,500		125,752	0.0%
	Argonaut Gold, Inc.	1,085,107		1,983,115	0.2%
#*	Asanko Gold, Inc.	800,944		1,229,086	0.1%
	AuRico Metals, Inc.	828,683		728,485	0.1%
	B2Gold Corp.	4,754,863		13,383,135	1.1%
	Banro Corp.	18,429		13,074	0.0%
	Caledonia Mining Corp. P.L.C.	540		3,427	0.0%
#*	Canam Group, Inc.	266,196		2,524,839	0.2%
	Canfor Corp.	522,870		7,898,692	0.6%
	Canfor Pulp Products, Inc.	215,615		2,088,313	0.2%
	Capstone Mining Corp.	3,258,255		2,361,783	0.2%
	Cascades, Inc.	482,793		6,585,910	0.5%
	Centerra Gold, Inc.	1,599,935		8,734,995	0.7%
#*	China Gold International Resources Corp., Ltd.	1,666,061		2,543,801	0.2%
#*	Continental Gold, Inc.	878,000		2,586,336	0.2%
#*	Copper Mountain Mining Corp.	925,730		592,501	0.0%
	Detour Gold Corp.	1,045,165		12,234,427	1.0%
	Dominion Diamond Corp.(B95LX89)	554,107		6,973,339	0.6%
	Dominion Diamond Corp.(257287102)	20,700		259,992	0.0%
#*	Dundee Precious Metals, Inc.	1,206,222		2,250,969	0.2%
#*	Eastmain Resources, Inc.	104,500		26,592	0.0%
	EcoSynthetix, Inc.	1,500		3,424	0.0%
	Eldorado Gold Corp.	4,471,746		11,862,127	0.9%
	Endeavour Mining Corp.	382,538		6,601,783	0.5%
#*	Endeavour Silver Corp.	106,781		325,251	0.0%
#*	First Majestic Silver Corp.	1,019,024		8,455,198	0.7%
	Fortress Paper, Ltd. Class A	16,706		79,098	0.0%
	Fortuna Silver Mines, Inc.	1,092,735		5,350,761	0.4%
	Goldcorp, Inc.	493		6,360	0.0%
#*	Golden Star Resources, Ltd.	2,212,127		1,449,960	0.1%
#*	Great Panther Silver, Ltd.	842,551		1,078,528	0.1%
	Guyana Goldfields, Inc.	1,098,544		5,150,484	0.4%
	HudBay Minerals, Inc.	1,535,305		8,879,386	0.7%
	IAMGOLD Corp.	3,392,369		17,500,731	1.4%
#*	Imperial Metals Corp.	281,160		1,034,187	0.1%
	Interfor Corp.	488,408		6,997,703	0.6%
#*	International Tower Hill Mines, Ltd.	13,001		6,216	0.0%
	Intertape Polymer Group, Inc.	379,277		7,221,121	0.6%
	Ivanhoe Mines, Ltd. Class A	2,184,189		7,023,495	0.6%
	Kirkland Lake Gold, Ltd.	963,773		9,118,981	0.7%
	Klondex Mines, Ltd.	871,669		2,937,379	0.2%
#*	Labrador Iron Ore Royalty Corp.	439,156		5,323,513	0.4%
#*	Liberty Gold Corp.	222,861		68,742	0.0%
	Lucara Diamond Corp.	1,558,365		3,316,693	0.3%
	Lundin Gold, Inc.	23,100		97,972	0.0%

The Canadian Small Company Series
Continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Lundin Mining Corp.	12,156	$	69,085	0.0%
	Lydian International, Ltd.	91,514		25,405	0.0%
	Major Drilling Group International, Inc.	589,312		3,858,158	0.3%
#*	Mandalay Resources Corp.	1,371,135		396,496	0.0%
#*	Midas Gold Corp.	293,884		163,168	0.0%
	Nautilus Minerals, Inc.	227,078		38,523	0.0%
	Nevsun Resources, Ltd.	1,976,873		4,771,447	0.4%
	New Gold, Inc.	3,427,809		10,890,325	0.9%
	Norbord, Inc.	235,880		7,343,059	0.6%
	OceanaGold Corp.	4,160,560		12,544,563	1.0%
	Orbite Technologies, Inc.	73,500		13,319	0.0%
#*	Osisko Gold Royalties, Ltd.	708,928		8,664,791	0.7%
	Pan American Silver Corp.	874,373		14,705,487	1.2%
#*	Platinum Group Metals, Ltd.	105,831		88,954	0.0%
#*	PolyMet Mining Corp.	613,665		364,375	0.0%
#*	Premier Gold Mines, Ltd.	793,012		1,791,737	0.1%
#*	Pretium Resources, Inc.(B57Q8S9)	114,400		1,099,186	0.1%
#*	Pretium Resources, Inc.(74139C102)	325,217		3,125,335	0.2%
#*	Primero Mining Corp.	1,071,138		371,693	0.0%
#*	RB Energy, Inc.	396,013		277	0.0%
	Richmont Mines, Inc.	398,871		3,106,568	0.2%
#*	Royal Nickel Corp.	385,500		60,940	0.0%
#*	Sabina Gold & Silver Corp.	1,572,221		2,424,770	0.2%
#*	Sandstorm Gold, Ltd.	1,078,289		4,165,814	0.3%
#*	Seabridge Gold, Inc.	111,235		1,196,583	0.1%
	SEMAFO, Inc.	2,066,546		4,764,784	0.4%
#*	Sherritt International Corp.	2,511,161		1,491,050	0.1%
	Silver Standard Resources, Inc.	794,505		7,713,462	0.6%
#*	Sprott Resource Holdings, Inc.	597,898		73,769	0.0%
	Stella-Jones, Inc.	249,471		8,514,487	0.7%
#*	Stornoway Diamond Corp.	1,468,797		872,127	0.1%
	Supremex, Inc.	6,100		22,296	0.0%
	Tahoe Resources, Inc.	1,389,343		11,977,834	0.9%
#*	Tanzanian Royalty Exploration Corp.	298,950		131,402	0.0%
	Taseko Mines, Ltd.	1,335,491		1,688,931	0.1%
#*	Tembec, Inc.	420,376		1,361,489	0.1%
	Teranga Gold Corp.	656,414		1,776,691	0.1%
#*	TMAC Resources, Inc.	69,213		774,964	0.1%
	Torex Gold Resources, Inc.	502,960		9,591,456	0.8%
#*	Trevali Mining Corp.	2,672,416		2,617,187	0.2%
	Wesdome Gold Mines, Ltd.	602,364		1,416,726	0.1%
	West Fraser Timber Co., Ltd.	169,710		8,032,696	0.6%
	Western Forest Products, Inc.	2,549,109		4,599,719	0.4%
	Winpak, Ltd.	159,835		7,175,813	0.6%
	Yamana Gold, Inc.	4,782,373		11,542,896	0.9%
Total Materials				374,917,426	29.7%
Real Estate — (2.2%)
#*	Altus Group, Ltd.	269,614		5,827,638	0.5%
	Brookfield Real Estate Services, Inc.	28,869		367,318	0.0%
	Colliers International Group, Inc.	182,095		10,292,692	0.8%
	DREAM Unlimited Corp. Class A	200,600		1,138,507	0.1%

The Canadian Small Company Series
Continued

					Percentage
		Shares	Value††		of Net Assets**
Real Estate — (Continued)
	FirstService Corp.(BYL7ZF7)	185,371	$	11,894,448	0.9%
	FirstService Corp.(33767E103)	1,234		78,951	0.0%
	Genesis Land Development Corp.	76,842		206,208	0.0%
	Information Services Corp.	7,374		100,648	0.0%
#*	Mainstreet Equity Corp.	29,849		836,683	0.1%
	Mainstreet Health Investments, Inc.	56,700		530,712	0.0%
	Melcor Developments, Ltd.	51,140		606,913	0.1%
	Morguard Corp.	9,468		1,348,869	0.1%
#*	Tricon Capital Group, Inc.	219,500		1,966,834	0.2%
Total Real Estate				35,196,421	2.8%
Utilities — (5.3%)
#*	Algonquin Power & Utilities Corp.	1,268,653		13,353,727	1.0%
	Alterra Power Corp.	160,142		702,660	0.1%
	Boralex, Inc. Class A	348,391		5,899,650	0.5%
#*	Capital Power Corp.	591,609		11,094,950	0.9%
#*	Innergex Renewable Energy, Inc.	547,427		6,019,671	0.5%
	Just Energy Group, Inc.	765,076		4,011,811	0.3%
	Maxim Power Corp.	92,234		193,458	0.0%
#*	Northland Power, Inc.	612,888		10,917,422	0.8%
	Polaris Infrastructure, Inc.	73,800		972,580	0.1%
#*	Superior Plus Corp.	864,085		7,609,385	0.6%
	TransAlta Corp.	1,755,309		11,221,092	0.9%
#*	TransAlta Renewables, Inc.	529,146		6,389,903	0.5%
	Valener, Inc.	281,676		4,848,094	0.4%
Total Utilities				83,234,403	6.6%
TOTAL COMMON STOCKS				1,256,094,927	99.5%
RIGHTS/WARRANTS — (0.0%)
	QLT, Inc. Warrants 11/23/17	219,010		—	0.0%
	QLT, Inc. Warrants 11/23/17 Class A	219,010		—	0.0%
TOTAL RIGHTS/WARRANTS				—	0.0%
TOTAL INVESTMENT SECURITIES				1,256,094,927
			Value†
SECURITIES LENDING COLLATERAL — (20.2%)
§@	DFA Short Term Investment Fund	27,512,637		318,376,232	25.2%
TOTAL INVESTMENTS — (100.0%) (Cost $1,746,091,254)^			$	1,574,471,159	124.7%

THE JAPANESE SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

October 31, 2017

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (90.8%)
Consumer Discretionary — (17.8%)
	Adastria Co., Ltd.	186,240	$	4,059,363	0.1%
#	Adventure, Inc.	4,600		656,321	0.0%
#	Aeon Fantasy Co., Ltd.	49,332		1,937,099	0.1%
*	AGORA Hospitality Group Co., Ltd.	372,000		118,094	0.0%
	Ahresty Corp.	137,600		1,124,239	0.0%
	Aisan Industry Co., Ltd.	222,700		2,550,167	0.1%
#*	Akebono Brake Industry Co., Ltd.	630,900		2,153,036	0.1%
#*	Allied Architects, Inc.	43,400		354,662	0.0%
	Alpen Co., Ltd.	115,000		2,287,372	0.1%
	Alpha Corp.	36,600		742,479	0.0%
	Alpine Electronics, Inc.	277,500		6,157,222	0.2%
	Amiyaki Tei Co., Ltd.	25,900		1,213,181	0.0%
	Amuse, Inc.	72,498		1,902,486	0.1%
*	Anrakutei Co., Ltd.	2,200		91,159	0.0%
	AOI TYO Holdings, Inc.	109,931		1,173,482	0.0%
	AOKI Holdings, Inc.	247,700		3,455,208	0.1%
	Aoyama Trading Co., Ltd.	307,500		11,394,402	0.3%
	Arata Corp.	62,700		2,664,313	0.1%
	Arcland Sakamoto Co., Ltd.	181,800		2,971,472	0.1%
	Arcland Service Holdings Co., Ltd.	104,900		2,314,015	0.1%
	Asahi Broadcasting Corp.	44,400		363,287	0.0%
	Asahi Co., Ltd.	105,600		1,283,679	0.0%
	Asante, Inc.	32,500		602,045	0.0%
	Asatsu-DK, Inc.	215,700		7,149,293	0.2%
#	Ashimori Industry Co., Ltd.	28,699		794,539	0.0%
#	ASKUL Corp.	144,900		3,900,769	0.1%
*	Asrapport Dining Co., Ltd.	36,200		140,217	0.0%
	Asti Corp.	16,600		664,267	0.0%
#	Atom Corp.	575,100		4,197,910	0.1%
	Atsugi Co., Ltd.	104,000		1,183,867	0.0%
#	Autobacs Seven Co., Ltd.	455,700		7,833,488	0.2%
	Avex Group Holdings, Inc.	243,100		3,360,461	0.1%
#	Beenos, Inc.	31,300		339,648	0.0%
	Belluna Co., Ltd.	258,800		2,940,394	0.1%
	Bic Camera, Inc.	551,900		6,798,255	0.2%
#	Bookoff Corp.	59,400		427,634	0.0%
#	BRONCO BILLY Co., Ltd.	68,300		1,772,489	0.1%
	Can Do Co., Ltd.	58,900		921,351	0.0%
	Central Automotive Products, Ltd.	62,100		1,010,523	0.0%
#	Central Sports Co., Ltd.	44,100		1,583,211	0.1%
#	Ceres, Inc.	8,400		96,022	0.0%
	CHIMNEY Co., Ltd.	27,800		697,923	0.0%
	Chiyoda Co., Ltd.	102,100		2,614,307	0.1%
	Chofu Seisakusho Co., Ltd.	132,900		3,243,673	0.1%
	Chori Co., Ltd.	74,000		1,348,546	0.0%
	Chuo Spring Co., Ltd.	19,600		655,037	0.0%
	Clarion Co., Ltd.	741,000		2,822,049	0.1%
	Cleanup Corp.	127,800		1,017,602	0.0%
#	Coco's Japan Co., Ltd.	31,800		619,934	0.0%
#	Colowide Co., Ltd.	370,700		6,957,612	0.2%
	Corona Corp.	101,400		1,210,785	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
#	Create Restaurants Holdings, Inc.	276,900	$	2,968,198	0.1%
	Cross Plus, Inc.	2,500		28,226	0.0%
	D.A. Consortium Holdings, Inc.	138,900		2,305,853	0.1%
	Daido Metal Co., Ltd.	210,200		1,941,275	0.1%
#	Daidoh, Ltd.	143,200		555,254	0.0%
#	Daikoku Denki Co., Ltd.	54,400		832,154	0.0%
	Daikyonishikawa Corp.	231,200		3,928,903	0.1%
	Dainichi Co., Ltd.	51,200		380,298	0.0%
	Daisyo Corp.	47,200		714,851	0.0%
	Daiyu Lic Holdings Co., Ltd.	33,600		313,978	0.0%
	DCM Holdings Co., Ltd.	627,500		5,764,638	0.2%
	DD Holdings Co., Ltd.	25,400		977,618	0.0%
	Descente, Ltd.	257,600		3,577,772	0.1%
	Doshisha Co., Ltd.	153,900		3,381,937	0.1%
	Doutor Nichires Holdings Co., Ltd.	195,386		4,638,927	0.1%
	Dunlop Sports Co., Ltd.	76,600		1,136,605	0.0%
#	Dynic Corp.	34,800		385,236	0.0%
	Eagle Industry Co., Ltd.	148,400		2,882,942	0.1%
#	EDION Corp.	471,900		4,767,481	0.1%
#	ES-Con Japan, Ltd.	215,000		1,019,354	0.0%
	ESCRIT, Inc.	19,900		155,228	0.0%
#	Evolable Asia Corp.	33,400		732,633	0.0%
	Exedy Corp.	193,000		5,787,206	0.2%
	F-Tech, Inc.	64,100		1,069,474	0.0%
	FCC Co., Ltd.	211,500		5,106,276	0.1%
*	Felissimo Corp.	11,200		132,735	0.0%
#	Fields Corp.	96,800		942,947	0.0%
#	Fine Sinter Co., Ltd.	9,800		199,038	0.0%
#	First Juken Co., Ltd.	26,900		428,327	0.0%
#	First-corp, Inc.	46,100		483,167	0.0%
	FJ Next Co., Ltd.	97,400		834,246	0.0%
	Foster Electric Co., Ltd.	155,800		3,656,827	0.1%
	France Bed Holdings Co., Ltd.	144,200		1,337,642	0.0%
#*	FreakOut Holdings, Inc.	36,100		1,321,445	0.0%
#	Fuji Co., Ltd.	111,400		2,638,331	0.1%
#	Fuji Corp.	29,000		542,645	0.0%
	Fuji Corp., Ltd.	160,000		1,157,125	0.0%
	Fuji Kiko Co., Ltd.	137,400		897,187	0.0%
#	Fuji Kyuko Co., Ltd.	134,500		3,003,024	0.1%
	Fuji Oozx, Inc.	600		28,067	0.0%
	Fujibo Holdings, Inc.	68,500		2,162,617	0.1%
	Fujikura Rubber, Ltd.	116,900		961,644	0.0%
#	Fujio Food System Co., Ltd.	42,100		666,963	0.0%
	Fujishoji Co., Ltd.	50,400		527,245	0.0%
#	Fujita Kanko, Inc.	50,900		1,621,721	0.1%
	Fujitsu General, Ltd.	25,700		491,512	0.0%
	FuKoKu Co., Ltd.	52,100		508,300	0.0%
#	Funai Electric Co., Ltd.	138,900		1,127,506	0.0%
#	Furukawa Battery Co., Ltd. (The)	89,000		958,304	0.0%
	Furyu Corp.	70,300		726,289	0.0%
	Futaba Industrial Co., Ltd.	389,900		3,789,770	0.1%
	G-Tekt Corp.	112,800		2,415,307	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Gakken Holdings Co., Ltd.	31,300	$	906,368	0.0%
	Gakkyusha Co., Ltd.	44,900		651,582	0.0%
#	Genki Sushi Co., Ltd.	25,500		701,948	0.0%
#	Geo Holdings Corp.	223,300		3,634,999	0.1%
#	Gfoot Co., Ltd.	59,800		400,091	0.0%
	GLOBERIDE, Inc.	62,299		1,085,275	0.0%
#	Gokurakuyu Holdings Co., Ltd.	45,800		309,079	0.0%
#	Goldwin, Inc.	20,100		1,561,760	0.1%
#	Golf Digest Online, Inc.	58,300		541,293	0.0%
#	Gourmet Kineya Co., Ltd.	85,000		848,988	0.0%
#	GSI Creos Corp.	32,300		516,155	0.0%
	Gunze, Ltd.	116,200		5,285,815	0.1%
	H-One Co., Ltd.	129,300		1,858,608	0.1%
	H2O Retailing Corp.	305,100		5,643,715	0.2%
#	Hagihara Industries, Inc.	80,800		1,403,182	0.0%
	Hakuyosha Co., Ltd.	9,100		279,275	0.0%
#	Hamee Corp.	36,900		533,353	0.0%
	Handsman Co., Ltd.	32,100		463,143	0.0%
	Happinet Corp.	104,100		1,793,785	0.1%
#	Harada Industry Co., Ltd.	36,500		287,276	0.0%
	Hard Off Corp. Co., Ltd.	57,900		593,735	0.0%
	Haruyama Holdings, Inc.	49,100		441,067	0.0%
	Heian Ceremony Service Co., Ltd.	6,700		56,986	0.0%
#	Heiwa Corp.	119,900		2,210,922	0.1%
	HI-LEX Corp.	74,300		1,879,476	0.1%
	Hiday Hidaka Corp.	120,756		3,547,812	0.1%
#	Himaraya Co., Ltd.	35,900		320,524	0.0%
	Hinokiya Holdings Co., Ltd.	3,600		81,982	0.0%
#	Hiramatsu, Inc.	190,600		1,050,494	0.0%
#	HIS Co., Ltd.	249,300		8,347,847	0.2%
	Honeys Holdings Co., Ltd.	106,040		1,122,184	0.0%
	Hoosiers Holdings	149,300		1,417,041	0.0%
#	Hotland Co., Ltd.	61,800		795,849	0.0%
	HUB Co., Ltd.	7,700		94,749	0.0%
	I K K, Inc.	65,900		509,070	0.0%
	I.K Co. Ltd.	2,300		199,684	0.0%
	IBJ, Inc.	103,500		830,032	0.0%
#	Ichibanya Co., Ltd.	80,058		3,102,522	0.1%
#	Ichikoh Industries, Ltd.	244,500		1,906,917	0.1%
#	IDOM, Inc.	433,200		3,159,139	0.1%
	IJT Technology Holdings Co., Ltd.	132,680		1,228,612	0.0%
	Imagica Robot Holdings, Inc.	87,500		732,603	0.0%
	Imasen Electric Industrial	109,300		1,412,946	0.0%
	Imperial Hotel, Ltd.	12,300		223,697	0.0%
#	Intage Holdings, Inc.	228,000		2,991,809	0.1%
*	Izutsuya Co., Ltd.	61,699		269,733	0.0%
	Janome Sewing Machine Co., Ltd.	112,700		778,705	0.0%
	Japan Best Rescue System Co., Ltd.	76,700		320,406	0.0%
	Japan Wool Textile Co., Ltd. (The)	354,200		3,181,403	0.1%
#	JINS, Inc.	84,100		4,370,190	0.1%
#	Joban Kosan Co., Ltd.	40,299		662,235	0.0%
#	Jolly - Pasta Co., Ltd.	17,700		252,396	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Joshin Denki Co., Ltd.	123,500	$	4,274,097	0.1%
	Joyful Honda Co., Ltd.	75,600		2,040,996	0.1%
#	JP-Holdings, Inc.	374,800		1,319,586	0.0%
	JVC Kenwood Corp.	1,000,930		3,138,027	0.1%
#	K's Holdings Corp.	41,800		959,330	0.0%
*	Kadokawa Dwango	362,333		4,180,461	0.1%
*	Kappa Create Co., Ltd.	24,600		276,250	0.0%
	Kasai Kogyo Co., Ltd.	164,500		2,475,107	0.1%
	Kawai Musical Instruments Manufacturing Co., Ltd.	43,300		914,215	0.0%
	Keihin Corp.	267,500		4,931,688	0.1%
#	Keiyo Co., Ltd.	212,100		1,429,194	0.0%
#	KFC Holdings Japan, Ltd.	100,700		1,778,901	0.1%
	Ki-Star Real Estate Co., Ltd.	42,700		898,395	0.0%
	King Co., Ltd.	12,500		58,357	0.0%
*	Kintetsu Department Store Co., Ltd.	36,600		1,201,028	0.0%
	Kitamura Co., Ltd.	2,000		13,156	0.0%
*	KNT-CT Holdings Co., Ltd.	76,500		1,328,064	0.0%
#	Kohnan Shoji Co., Ltd.	179,800		3,842,770	0.1%
*	Kojima Co., Ltd.	203,400		670,393	0.0%
	Komatsu Seiren Co., Ltd.	208,900		1,812,849	0.1%
	KOMEDA Holdings Co., Ltd.	67,500		1,150,707	0.0%
	Komehyo Co., Ltd.	45,200		720,585	0.0%
	Komeri Co., Ltd.	192,600		5,770,447	0.2%
#	Konaka Co., Ltd.	149,806		798,467	0.0%
	Koshidaka Holdings Co., Ltd.	78,000		3,155,237	0.1%
#	Kourakuen Holdings Corp.	69,400		1,387,019	0.0%
	KU Holdings Co., Ltd.	130,900		1,230,789	0.0%
#	Kura Corp.	69,200		3,095,690	0.1%
	Kurabo Industries, Ltd.	1,241,000		3,599,920	0.1%
	KYB Corp.	124,700		8,096,520	0.2%
	Kyoritsu Maintenance Co., Ltd.	188,662		5,958,482	0.2%
#*	Laox Co., Ltd.	190,100		796,120	0.0%
#	LEC, Inc.	81,100		2,139,265	0.1%
#	LIFULL Co., Ltd.	364,500		2,800,968	0.1%
*	Litalico, Inc.	11,400		168,624	0.0%
#	Look, Inc.	228,000		866,493	0.0%
#	Mamiya-Op Co., Ltd.	25,800		276,256	0.0%
	Mars Engineering Corp.	66,700		1,358,682	0.0%
#*	Maruzen CHI Holdings Co., Ltd.	66,900		206,035	0.0%
#	Matsuya Co., Ltd.	188,500		2,037,135	0.1%
	Matsuya Foods Co., Ltd.	59,900		2,297,560	0.1%
#*	Meganesuper Co., Ltd.	637,300		431,574	0.0%
	Meiko Network Japan Co., Ltd.	136,000		1,575,946	0.1%
	Meiwa Estate Co., Ltd.	70,500		572,399	0.0%
	Mikuni Corp.	130,500		682,846	0.0%
#	Misawa Homes Co., Ltd.	150,400		1,333,014	0.0%
	Mitsuba Corp.	212,690		3,554,456	0.1%
	Mitsui Home Co., Ltd.	165,000		1,092,071	0.0%
	Mizuno Corp.	126,400		3,595,151	0.1%
	Monogatari Corp. (The)	33,600		2,475,679	0.1%
	Morito Co., Ltd.	78,000		743,576	0.0%
	MrMax Holdings, Ltd.	127,800		841,042	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Murakami Corp.	22,400	$	657,253	0.0%
	Musashi Seimitsu Industry Co., Ltd.	139,000		4,430,628	0.1%
	Nafco Co., Ltd.	36,700		568,465	0.0%
	Nagawa Co., Ltd.	31,100		1,249,855	0.0%
*	Naigai Co., Ltd.	54,400		281,972	0.0%
#	Nakayamafuku Co., Ltd.	33,600		230,697	0.0%
#	Nextage Co., Ltd.	41,000		917,600	0.0%
	Nice Holdings, Inc.	44,400		629,443	0.0%
	Nichirin Co., Ltd.	48,200		1,758,894	0.1%
	Nihon Eslead Corp.	47,300		861,880	0.0%
#	Nihon House Holdings Co., Ltd.	269,800		1,483,273	0.0%
#	Nihon Plast Co., Ltd.	70,300		758,085	0.0%
	Nihon Tokushu Toryo Co., Ltd.	82,400		1,495,769	0.0%
	Nippon Felt Co., Ltd.	58,200		264,083	0.0%
	Nippon Piston Ring Co., Ltd.	48,600		1,043,604	0.0%
	Nippon Seiki Co., Ltd.	264,400		6,126,954	0.2%
#	Nippon View Hotel Co., Ltd.	33,600		416,432	0.0%
	Nishikawa Rubber Co., Ltd.	24,200		497,682	0.0%
#	Nishimatsuya Chain Co., Ltd.	325,800		3,585,718	0.1%
	Nissan Shatai Co., Ltd.	369,400		3,952,814	0.1%
	Nissan Tokyo Sales Holdings Co., Ltd.	170,000		612,777	0.0%
	Nissei Build Kogyo Co., Ltd.	216,500		2,470,798	0.1%
	Nissin Kogyo Co., Ltd.	258,900		4,797,284	0.1%
	Nittan Valve Co., Ltd.	86,000		358,457	0.0%
	Nojima Corp.	180,400		4,206,751	0.1%
	Ohashi Technica, Inc.	50,500		748,714	0.0%
	Ohsho Food Service Corp.	80,600		3,369,883	0.1%
*	Oisix.daichi, Inc.	19,200		368,809	0.0%
*	Onkyo Corp.	32,700		57,941	0.0%
	Onward Holdings Co., Ltd.	792,000		6,677,401	0.2%
#	Ootoya Holdings Co., Ltd.	22,200		399,209	0.0%
#*	Open Door, Inc.	20,300		947,446	0.0%
#	OPT Holding, Inc.	72,900		792,277	0.0%
#	Otsuka Kagu, Ltd.	77,500		611,780	0.0%
	Ozu Corp.	2,100		41,444	0.0%
	Pacific Industrial Co., Ltd.	293,300		3,813,728	0.1%
	PAL GROUP Holdings Co., Ltd.	70,000		1,989,907	0.1%
	PALTAC Corp.	181,634		7,213,781	0.2%
	PAPYLESS Co., Ltd.	28,600		645,606	0.0%
	Parco Co., Ltd.	123,400		1,647,284	0.1%
	Paris Miki Holdings, Inc.	161,800		674,782	0.0%
#	PC Depot Corp.	245,041		1,870,268	0.1%
#	People Co., Ltd.	17,000		289,082	0.0%
#	Pepper Food Service Co., Ltd.	84,000		4,954,906	0.1%
#	PIA Corp.	32,500		1,647,727	0.1%
	Piolax, Inc.	170,100		4,705,818	0.1%
#*	Pioneer Corp.	2,136,700		4,137,511	0.1%
	Plenus Co., Ltd.	133,800		2,725,635	0.1%
	Press Kogyo Co., Ltd.	623,200		3,505,329	0.1%
	Pressance Corp.	229,100		3,085,636	0.1%
	Proto Corp.	79,000		1,137,033	0.0%
#	Raccoon Co., Ltd.	79,000		441,937	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Regal Corp.	1,000	$	25,910	0.0%
#	Renaissance, Inc.	60,600		901,661	0.0%
#*	Renown, Inc.	323,700		568,249	0.0%
#	Resort Solution Co., Ltd.	16,799		596,920	0.0%
#	Resorttrust, Inc.	507,200		9,986,546	0.3%
	Rhythm Watch Co., Ltd.	55,900		1,169,720	0.0%
	Riberesute Corp.	44,200		394,417	0.0%
#	Ride On Express Holdings Co., Ltd.	48,300		444,068	0.0%
#	Right On Co., Ltd.	96,125		797,914	0.0%
	Riken Corp.	60,300		3,136,771	0.1%
#	Ringer Hut Co., Ltd.	145,200		3,148,778	0.1%
	Riso Kyoiku Co., Ltd.	216,900		1,725,117	0.1%
	Round One Corp.	442,300		5,715,705	0.2%
	Royal Holdings Co., Ltd.	178,300		4,609,829	0.1%
*	Royal Hotel, Ltd. (The)	600		10,430	0.0%
	Sac's Bar Holdings, Inc.	124,150		1,513,030	0.0%
	Saizeriya Co., Ltd.	184,600		5,694,529	0.2%
	Sakai Ovex Co., Ltd.	30,899		634,392	0.0%
	San Holdings, Inc.	21,900		564,868	0.0%
*	Sanden Holdings Corp.	150,400		3,057,728	0.1%
#	Sanei Architecture Planning Co., Ltd.	50,300		1,119,407	0.0%
	Sangetsu Corp.	328,750		6,050,338	0.2%
#	Sanko Marketing Foods Co., Ltd.	27,800		244,418	0.0%
	Sankyo Seiko Co., Ltd.	192,600		796,851	0.0%
	Sanoh Industrial Co., Ltd.	154,600		1,366,860	0.0%
#	Sanrio Co., Ltd.	306,400		5,074,367	0.1%
	Sanyei Corp.	3,500		118,512	0.0%
#	Sanyo Electric Railway Co., Ltd.	102,998		2,613,772	0.1%
	Sanyo Housing Nagoya Co., Ltd.	64,700		704,304	0.0%
#	Sanyo Shokai, Ltd.	76,599		1,411,693	0.0%
#	Scroll Corp.	175,900		742,211	0.0%
#	Seiko Holdings Corp.	195,881		4,890,273	0.1%
	Seiren Co., Ltd.	306,800		5,354,764	0.1%
	Senshukai Co., Ltd.	205,800		1,273,818	0.0%
#	Septeni Holdings Co., Ltd.	643,700		1,813,312	0.1%
	SFP Holdings Co., Ltd.	69,600		1,132,274	0.0%
#	Shidax Corp.	111,200		433,899	0.0%
	Shikibo, Ltd.	77,900		1,099,209	0.0%
	Shimachu Co., Ltd.	282,300		7,950,489	0.2%
	Shimojima Co., Ltd.	29,300		308,769	0.0%
#	Shobunsha Publications, Inc.	258,500		1,719,674	0.1%
	Shochiku Co., Ltd.	5,400		803,960	0.0%
#	Shoei Co., Ltd.	76,000		2,551,578	0.1%
	Showa Corp.	326,000		4,273,138	0.1%
	SKY Perfect JSAT Holdings, Inc.	899,100		4,168,897	0.1%
#	Snow Peak, Inc.	25,100		684,205	0.0%
	SNT Corp.	92,800		623,983	0.0%
	Soft99 Corp.	70,000		704,229	0.0%
	Sotoh Co., Ltd.	41,400		420,547	0.0%
	SPK Corp.	20,200		584,309	0.0%
	SRS Holdings Co., Ltd.	11,400		92,704	0.0%
	St Marc Holdings Co., Ltd.	104,200		3,148,668	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Starts Corp., Inc.	188,800	$	5,120,455	0.1%
	Step Co., Ltd.	48,100		663,127	0.0%
	Studio Alice Co., Ltd.	60,200		1,392,751	0.0%
#	Suminoe Textile Co., Ltd.	351,000		988,175	0.0%
	Sumitomo Riko Co., Ltd.	235,200		2,284,347	0.1%
#	Sun Corp.	104,900		714,404	0.0%
	Suncall Corp.	70,100		438,726	0.0%
#	Syuppin Co., Ltd.	50,400		1,148,354	0.0%
	T RAD Co., Ltd.	47,900		1,988,042	0.1%
	T-Gaia Corp.	139,000		2,828,702	0.1%
	Tachi-S Co., Ltd.	197,140		3,703,012	0.1%
	Tachikawa Corp.	58,300		688,975	0.0%
	Taiho Kogyo Co., Ltd.	101,400		1,516,827	0.1%
	Take And Give Needs Co., Ltd.	62,670		479,214	0.0%
	Takihyo Co., Ltd.	24,200		499,101	0.0%
	Tama Home Co., Ltd.	99,500		645,246	0.0%
	Tamron Co., Ltd.	119,500		2,494,908	0.1%
	TBK Co., Ltd.	121,000		557,025	0.0%
	Tear Corp.	42,700		345,392	0.0%
*	Ten Allied Co., Ltd.	10,500		40,621	0.0%
#	Tenpos Busters Co., Ltd.	27,300		482,524	0.0%
	Tigers Polymer Corp.	58,300		414,567	0.0%
	Toa Corp.	136,700		1,445,086	0.0%
#	Toabo Corp.	54,799		300,690	0.0%
	Toei Animation Co., Ltd.	26,100		2,362,270	0.1%
	Toei Co., Ltd.	44,900		4,871,341	0.1%
	Tohokushinsha Film Corp.	47,800		314,841	0.0%
	Tokai Rika Co., Ltd.	339,900		7,154,245	0.2%
	Token Corp.	47,550		5,733,702	0.2%
#*	Tokyo Base Co., Ltd.	33,200		1,361,337	0.0%
	Tokyo Dome Corp.	577,500		5,422,702	0.1%
#	Tokyo Individualized Educational Institute, Inc.	121,000		1,066,515	0.0%
	Tokyo Radiator Manufacturing Co., Ltd.	21,400		192,057	0.0%
	Tokyotokeiba Co., Ltd.	108,300		3,295,511	0.1%
#	Tokyu Recreation Co., Ltd.	99,000		802,842	0.0%
	Tomy Co., Ltd.	523,693		8,472,972	0.2%
	Topre Corp.	242,200		7,132,079	0.2%
	Toridoll Holdings Corp.	139,000		4,463,596	0.1%
#	Torikizoku Co., Ltd.	48,100		1,300,009	0.0%
#	Tosho Co., Ltd.	102,400		2,828,164	0.1%
#	Tow Co., Ltd.	109,300		863,664	0.0%
	TPR Co., Ltd.	141,900		5,016,511	0.1%
	TS Tech Co., Ltd.	230,300		8,247,932	0.2%
	TSI Holdings Co., Ltd.	468,295		3,924,913	0.1%
#	Tsukada Global Holdings, Inc.	109,400		561,708	0.0%
	Tsukamoto Corp. Co., Ltd.	19,000		215,792	0.0%
	Tsutsumi Jewelry Co., Ltd.	50,900		900,138	0.0%
	TV Asahi Holdings Corp.	123,500		2,487,044	0.1%
	Tv Tokyo Holdings Corp.	91,800		1,921,521	0.1%
#*	U-Shin, Ltd.	123,600		834,938	0.0%
	Ukai Co., Ltd.	1,000		27,031	0.0%
#	Umenohana Co., Ltd.	7,200		179,989	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Unipres Corp.	230,700	$	6,228,852	0.2%
	United Arrows, Ltd.	150,200		5,629,455	0.2%
*	Unitika, Ltd.	399,200		3,523,517	0.1%
	ValueCommerce Co., Ltd.	117,600		824,910	0.0%
	Vector, Inc.	173,300		2,291,485	0.1%
#	VIA Holdings, Inc.	120,200		873,283	0.0%
#	Village Vanguard Co., Ltd.	32,100		324,263	0.0%
#	VT Holdings Co., Ltd.	554,700		3,019,575	0.1%
	Wacoal Holdings Corp.	338,000		9,660,986	0.3%
	WATAMI Co., Ltd.	144,700		1,886,942	0.1%
	Watts Co., Ltd.	34,000		348,977	0.0%
	Workman Co., Ltd.	2,600		81,044	0.0%
	Wowow, Inc.	42,600		1,327,994	0.0%
	Xebio Holdings Co., Ltd.	167,200		3,200,766	0.1%
	Yachiyo Industry Co., Ltd.	34,500		462,377	0.0%
	Yagi & Co., Ltd.	800		14,057	0.0%
#	Yamato International, Inc.	52,100		205,665	0.0%
#	Yasunaga Corp.	42,300		1,274,932	0.0%
	Yellow Hat, Ltd.	100,700		3,089,754	0.1%
	Yomiuri Land Co., Ltd.	26,000		1,092,369	0.0%
#	Yondoshi Holdings, Inc.	127,320		3,502,039	0.1%
	Yorozu Corp.	126,600		2,575,698	0.1%
	Yoshinoya Holdings Co., Ltd.	152,600		2,538,134	0.1%
#	Yossix Co., Ltd.	13,100		326,585	0.0%
#	Yume No Machi Souzou Iinkai Co., Ltd.	153,400		2,156,923	0.1%
	Yutaka Giken Co., Ltd.	4,300		97,451	0.0%
	Zenrin Co., Ltd.	147,500		4,686,846	0.1%
#	Zojirushi Corp.	241,900		2,183,313	0.1%
Total Consumer Discretionary				773,626,796	19.4%
Consumer Staples — (7.4%)
#	Aeon Hokkaido Corp.	261,700		1,504,625	0.0%
#	AFC-HD AMS Life Science Co., Ltd.	1,700		12,654	0.0%
	Ahjikan Co., Ltd.	2,500		27,460	0.0%
	Ain Holdings, Inc.	106,800		7,306,661	0.2%
	Albis Co., Ltd.	35,800		1,337,184	0.0%
	Aohata Corp.	600		13,587	0.0%
	Arcs Co., Ltd.	247,700		5,541,828	0.1%
	Ariake Japan Co., Ltd.	114,800		8,774,730	0.2%
	Artnature, Inc.	127,600		838,289	0.0%
	Axial Retailing, Inc.	90,500		3,701,710	0.1%
	Belc Co., Ltd.	67,700		3,777,594	0.1%
	Bourbon Corp.	23,200		540,285	0.0%
	C'BON COSMETICS Co., Ltd.	4,200		99,807	0.0%
	Cawachi, Ltd.	96,900		2,377,594	0.1%
	Chubu Shiryo Co., Ltd.	149,200		2,666,659	0.1%
#	Chuo Gyorui Co., Ltd.	9,300		229,066	0.0%
	Ci:z Holdings Co., Ltd.	164,800		6,068,340	0.2%
	Cocokara fine, Inc.	116,060		6,470,806	0.2%
	Cota Co., Ltd.	34,250		431,878	0.0%
	Create SD Holdings Co., Ltd.	169,400		4,264,128	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
	Daikokutenbussan Co., Ltd.	39,900	$	1,816,520	0.1%
	Delica Foods Holdings Co., Ltd.	22,000		293,795	0.0%
	DyDo Group Holdings, Inc.	55,600		2,725,919	0.1%
	Earth Chemical Co., Ltd.	82,500		3,872,962	0.1%
	Ebara Foods Industry, Inc.	8,000		145,872	0.0%
#	Eco's Co., Ltd.	43,800		491,845	0.0%
	Feed One Co., Ltd.	860,040		2,227,875	0.1%
*	First Baking Co., Ltd.	18,300		197,457	0.0%
	Fuji Oil Holdings, Inc.	278,500		7,508,721	0.2%
	Fujicco Co., Ltd.	138,200		3,121,672	0.1%
	Fujiya Co., Ltd.	25,500		578,448	0.0%
	G-7 Holdings, Inc.	37,300		795,066	0.0%
#	Genky Stores, Inc.	46,800		1,726,876	0.0%
#	HABA Laboratories, Inc.	12,700		763,534	0.0%
	Hagoromo Foods Corp.	39,000		460,076	0.0%
	Halows Co., Ltd.	42,400		961,116	0.0%
	Havix Corp.	8,800		88,530	0.0%
	Hayashikane Sangyo Co., Ltd.	25,500		214,353	0.0%
	Heiwado Co., Ltd.	184,600		4,029,941	0.1%
	Hokkaido Coca-Cola Bottling Co., Ltd.	90,000		582,844	0.0%
	Hokuto Corp.	165,100		2,882,677	0.1%
	Ichimasa Kamaboko Co., Ltd.	21,600		253,831	0.0%
#	Imuraya Group Co., Ltd.	16,200		309,324	0.0%
	Inageya Co., Ltd.	175,800		2,900,539	0.1%
	Itochu-Shokuhin Co., Ltd.	29,100		1,328,625	0.0%
#	Ivy Cosmetics Corp.	12,100		642,527	0.0%
	Iwatsuka Confectionery Co., Ltd.	3,600		159,640	0.0%
	J-Oil Mills, Inc.	68,700		2,467,423	0.1%
#	Japan Meat Co., Ltd.	28,500		455,876	0.0%
	Kadoya Sesame Mills, Inc.	8,400		440,560	0.0%
	Kakiyasu Honten Co., Ltd.	44,900		839,268	0.0%
#	Kameda Seika Co., Ltd.	77,100		3,491,719	0.1%
	Kaneko Seeds Co., Ltd.	33,800		505,037	0.0%
	Kanemi Co., Ltd.	500		14,684	0.0%
	Kansai Super Market, Ltd.	11,300		138,103	0.0%
#	Kato Sangyo Co., Ltd.	142,000		4,429,943	0.1%
	Kenko Mayonnaise Co., Ltd.	84,500		2,208,365	0.1%
	KEY Coffee, Inc.	110,400		2,082,485	0.1%
	Kirindo Holdings Co., Ltd.	30,300		406,084	0.0%
#	Kitanotatsujin Corp.	100,000		886,090	0.0%
#	Kobe Bussan Co., Ltd.	66,300		2,863,159	0.1%
	Kotobuki Spirits Co., Ltd.	120,600		4,963,865	0.1%
	Kusuri no Aoki Holdings Co., Ltd.	79,800		4,428,816	0.1%
#	Kyokuyo Co., Ltd.	62,199		2,007,953	0.1%
#	Lacto Japan Co., Ltd.	16,700		606,346	0.0%
	Life Corp.	157,800		4,197,389	0.1%
	Mandom Corp.	208,800		6,221,508	0.2%
	Marudai Food Co., Ltd.	677,000		3,166,986	0.1%
	Maruha Nichiro Corp.	271,407		8,383,688	0.2%
#	Maxvalu Nishinihon Co., Ltd.	9,200		137,381	0.0%
	Maxvalu Tokai Co., Ltd.	49,300		971,064	0.0%
#	Medical System Network Co., Ltd.	150,000		710,046	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
	Megmilk Snow Brand Co., Ltd.	321,100	$	8,988,272	0.2%
	Meito Sangyo Co., Ltd.	55,000		728,185	0.0%
	Milbon Co., Ltd.	73,076		4,563,158	0.1%
	Ministop Co., Ltd.	109,500		2,222,178	0.1%
	Mitsubishi Shokuhin Co., Ltd.	91,700		2,720,885	0.1%
	Mitsui Sugar Co., Ltd.	104,470		3,573,776	0.1%
	Miyoshi Oil & Fat Co., Ltd.	39,600		522,546	0.0%
	Morinaga Milk Industry Co., Ltd.	243,400		9,344,287	0.2%
	Morishita Jintan Co., Ltd.	400		10,598	0.0%
	Morozoff, Ltd.	20,100		1,318,787	0.0%
	Nagatanien Holdings Co., Ltd.	151,000		1,799,027	0.1%
	Nakamuraya Co., Ltd.	21,600		974,562	0.0%
	Natori Co., Ltd.	60,700		1,098,276	0.0%
	Nichimo Co., Ltd.	17,000		305,850	0.0%
	Nihon Chouzai Co., Ltd.	44,760		1,465,156	0.0%
	Niitaka Co., Ltd.	2,860		48,337	0.0%
	Nippon Beet Sugar Manufacturing Co., Ltd.	67,700		1,446,181	0.0%
	Nippon Flour Mills Co., Ltd.	346,900		5,322,225	0.1%
	Nippon Suisan Kaisha, Ltd.	1,832,600		11,212,866	0.3%
	Nisshin Oillio Group, Ltd. (The)	162,400		5,331,037	0.1%
	Nissin Sugar Co., Ltd.	78,600		1,428,635	0.0%
	Nitto Fuji Flour Milling Co., Ltd.	6,400		232,852	0.0%
	Noevir Holdings Co., Ltd.	87,900		5,301,368	0.1%
	Oenon Holdings, Inc.	320,900		935,260	0.0%
#	OIE Sangyo Co., Ltd.	20,900		232,631	0.0%
	Okuwa Co., Ltd.	162,000		1,641,041	0.0%
	Olympic Group Corp.	63,100		335,322	0.0%
	OUG Holdings, Inc.	9,400		225,904	0.0%
	Plant Co., Ltd.	2,400		27,273	0.0%
	Prima Meat Packers, Ltd.	910,000		5,946,429	0.2%
	Qol Co., Ltd.	110,400		2,030,466	0.1%
#	Retail Partners Co., Ltd.	67,300		781,784	0.0%
	Riken Vitamin Co., Ltd.	71,100		2,730,473	0.1%
#	Rock Field Co., Ltd.	145,300		2,556,574	0.1%
#	Rokko Butter Co., Ltd.	90,400		2,031,308	0.1%
	S Foods, Inc.	82,862		3,151,270	0.1%
	S&B Foods, Inc.	8,299		652,156	0.0%
#	Sagami Rubber Industries Co., Ltd.	48,000		817,113	0.0%
	Sakata Seed Corp.	142,600		4,311,787	0.1%
	San-A Co., Ltd.	111,500		5,131,032	0.1%
	Sapporo Holdings, Ltd.	255,700		8,102,774	0.2%
#	Shoei Foods Corp.	76,000		3,060,109	0.1%
	Showa Sangyo Co., Ltd.	123,600		3,223,373	0.1%
	Sogo Medical Co., Ltd.	59,200		3,284,855	0.1%
	ST Corp.	81,200		2,011,016	0.1%
	Starzen Co., Ltd.	52,200		2,553,461	0.1%
	Takara Holdings, Inc.	1,048,200		10,253,490	0.3%
	Tobu Store Co., Ltd.	19,000		515,643	0.0%
	Toho Co., Ltd.	46,500		1,176,345	0.0%
	Tohto Suisan Co., Ltd.	17,299		317,327	0.0%
	Torigoe Co., Ltd. (The)	85,700		704,293	0.0%
	Toyo Sugar Refining Co., Ltd.	15,700		171,634	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
#	Transaction Co., Ltd.	87,400	$	945,182	0.0%
	United Super Markets Holdings, Inc.	329,300		3,074,180	0.1%
	Uoriki Co., Ltd.	2,100		21,981	0.0%
	Valor Holdings Co., Ltd.	220,500		5,014,833	0.1%
	Warabeya Nichiyo Holdings Co., Ltd.	102,260		2,531,796	0.1%
	Watahan & Co., Ltd.	37,100		828,771	0.0%
#	YA-MAN, Ltd.	181,000		2,105,671	0.1%
#	Yaizu Suisankagaku Industry Co., Ltd.	47,300		508,740	0.0%
#	Yakuodo Co., Ltd.	68,200		1,910,103	0.1%
	Yamatane Corp.	61,200		1,093,186	0.0%
#	Yamaya Corp.	25,600		538,344	0.0%
	Yamazawa Co., Ltd.	2,100		32,160	0.0%
	Yaoko Co., Ltd.	132,100		6,483,874	0.2%
#	Yokohama Reito Co., Ltd.	274,200		2,607,854	0.1%
	Yomeishu Seizo Co., Ltd.	49,800		992,334	0.0%
	Yuasa Funashoku Co., Ltd.	12,500		373,906	0.0%
	Yutaka Foods Corp.	6,000		101,600	0.0%
Total Consumer Staples				322,125,010	8.1%
Energy — (1.0%)
	BP Castrol K.K.	53,100		934,248	0.0%
	Cosmo Energy Holdings Co., Ltd.	344,800		7,920,712	0.2%
	Fuji Kosan Co., Ltd.	33,100		176,875	0.0%
	Fuji Oil Co., Ltd.	317,100		1,231,572	0.0%
	Itochu Enex Co., Ltd.	302,200		3,080,234	0.1%
#*	Japan Drilling Co., Ltd.	43,700		835,771	0.0%
	Japan Oil Transportation Co., Ltd.	11,600		373,956	0.0%
	Japan Petroleum Exploration Co., Ltd.	200,700		4,141,497	0.1%
	Mitsuuroko Group Holdings Co., Ltd.	186,200		1,361,544	0.0%
	Modec, Inc.	124,900		2,879,113	0.1%
	Nippon Coke & Engineering Co., Ltd.	1,114,100		1,231,875	0.0%
#	Nippon Gas Co., Ltd.	233,600		7,431,777	0.2%
#	Sala Corp.	313,900		2,100,959	0.1%
	San-Ai Oil Co., Ltd.	356,200		4,254,280	0.1%
	Shinko Plantech Co., Ltd.	247,600		2,137,853	0.1%
	Sinanen Holdings Co., Ltd.	53,100		1,187,329	0.0%
	Toa Oil Co., Ltd.	415,000		552,038	0.0%
#	Toyo Kanetsu K.K.	56,800		2,151,615	0.1%
Total Energy				43,983,248	1.1%
Financials — (7.7%)
	77 Bank, Ltd. (The)	392,952		9,986,545	0.3%
#	Accretive Co., Ltd.	57,800		215,271	0.0%
#	Advance Create Co., Ltd.	17,400		293,961	0.0%
	Aichi Bank, Ltd. (The)	51,300		3,160,895	0.1%
#	Aizawa Securities Co., Ltd.	186,700		1,342,195	0.0%
	Akatsuki Corp.	40,400		162,763	0.0%
	Akita Bank, Ltd. (The)	110,040		3,521,413	0.1%
#	Anicom Holdings, Inc.	106,700		2,755,574	0.1%
#	Aomori Bank, Ltd. (The)	122,300		3,943,536	0.1%
	Asax Co., Ltd.	1,700		27,256	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Awa Bank, Ltd. (The)	1,178,000	$	7,991,079	0.2%
	Bank of Iwate, Ltd. (The)	112,100		4,617,301	0.1%
	Bank of Kochi, Ltd. (The)	32,300		376,366	0.0%
#	Bank of Nagoya, Ltd. (The)	98,330		3,928,742	0.1%
	Bank of Okinawa, Ltd. (The)	132,960		5,424,144	0.1%
	Bank of Saga, Ltd. (The)	92,100		2,301,188	0.1%
	Bank of the Ryukyus, Ltd.	227,380		3,466,539	0.1%
	Bank of Toyama, Ltd. (The)	2,500		101,226	0.0%
	Chiba Kogyo Bank, Ltd. (The)	318,900		1,813,993	0.1%
#	Chukyo Bank, Ltd. (The)	70,000		1,426,833	0.0%
	Daisan Bank, Ltd. (The)	88,400		1,489,042	0.0%
	Daishi Bank, Ltd. (The)	207,100		10,141,558	0.3%
	Daito Bank, Ltd. (The)	87,300		1,310,921	0.0%
	DSB Co., Ltd.	56,500		395,957	0.0%
#	eGuarantee, Inc.	43,700		1,231,334	0.0%
#	Ehime Bank, Ltd. (The)	199,600		2,576,754	0.1%
	Eighteenth Bank, Ltd. (The)	1,048,000		2,823,063	0.1%
	FIDEA Holdings Co., Ltd.	1,126,100		2,143,864	0.1%
	Financial Products Group Co., Ltd.	423,200		4,911,580	0.1%
	First Bank of Toyama, Ltd. (The)	126,100		662,993	0.0%
	Fukui Bank, Ltd. (The)	140,100		3,743,414	0.1%
	Fukushima Bank, Ltd. (The)	142,100		1,137,068	0.0%
	Fuyo General Lease Co., Ltd.	105,100		6,872,719	0.2%
#	GCA Corp.	167,100		1,529,528	0.0%
	GMO Financial Holdings, Inc.	93,300		615,966	0.0%
	Hokkoku Bank, Ltd. (The)	174,200		7,974,875	0.2%
	Hokuetsu Bank, Ltd. (The)	131,600		3,186,798	0.1%
	Hokuhoku Financial Group, Inc.	439,200		7,239,433	0.2%
	Hyakugo Bank, Ltd. (The)	1,578,909		7,412,936	0.2%
	Hyakujushi Bank, Ltd. (The)	1,426,000		5,184,673	0.1%
	IBJ Leasing Co., Ltd.	147,500		3,850,707	0.1%
	Ichiyoshi Securities Co., Ltd.	239,700		2,751,252	0.1%
	IwaiCosmo Holdings, Inc.	108,500		1,393,443	0.0%
#	J Trust Co., Ltd.	359,100		2,642,085	0.1%
	Jaccs Co., Ltd.	145,900		3,644,187	0.1%
	Jafco Co., Ltd.	190,600		9,420,141	0.2%
*	Japan Asia Investment Co., Ltd.	102,100		377,001	0.0%
#	Japan Investment Adviser Co., Ltd.	64,600		1,550,411	0.0%
	Japan Securities Finance Co., Ltd.	648,900		3,649,588	0.1%
	Jimoto Holdings, Inc.	787,400		1,540,553	0.0%
	Juroku Bank, Ltd. (The)	208,500		7,043,845	0.2%
#	kabu.com Securities Co., Ltd.	914,600		2,915,898	0.1%
	Kansai Urban Banking Corp.	149,200		1,906,708	0.1%
	Keiyo Bank, Ltd. (The)	1,418,000		6,949,137	0.2%
	Kita-Nippon Bank, Ltd. (The)	49,506		1,540,696	0.0%
	Kiyo Bank, Ltd. (The)	376,790		6,480,653	0.2%
#	Kosei Securities Co., Ltd. (The)	28,899		437,846	0.0%
#	Kyokuto Securities Co., Ltd.	148,300		2,200,249	0.1%
	Kyushu Financial Group, Inc.	82,120		521,968	0.0%
*	LIFENET INSURANCE CO.	6,200		21,896	0.0%
#*	M&A Capital Partners Co., Ltd.	41,900		2,194,492	0.1%
#	Marusan Securities Co., Ltd.	307,900		2,815,547	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Matsui Securities Co., Ltd.	532,400	$	4,477,141	0.1%
#	Michinoku Bank, Ltd. (The)	90,798		1,536,838	0.0%
	Mie Bank, Ltd. (The)	58,700		1,404,830	0.0%
#	Minato Bank, Ltd. (The)	109,200		2,069,648	0.1%
	Mito Securities Co., Ltd.	424,800		1,469,509	0.0%
	Miyazaki Bank, Ltd. (The)	99,600		3,586,291	0.1%
#	Monex Group, Inc.	1,286,400		4,102,534	0.1%
#	Money Partners Group Co., Ltd.	155,400		643,681	0.0%
	Musashino Bank, Ltd. (The)	198,000		6,434,079	0.2%
#	Nagano Bank, Ltd. (The)	52,599		919,987	0.0%
	Nanto Bank, Ltd. (The)	162,700		4,590,069	0.1%
	Nishi-Nippon Financial Holdings, Inc.	773,100		9,020,926	0.2%
	North Pacific Bank, Ltd.	2,064,700		6,949,461	0.2%
	OAK Capital Corp.	324,600		838,705	0.0%
	Ogaki Kyoritsu Bank, Ltd. (The)	209,300		5,975,059	0.2%
#	Oita Bank, Ltd. (The)	101,489		4,108,631	0.1%
	Okasan Securities Group, Inc.	908,000		5,601,107	0.1%
	Pocket Card Co., Ltd.	118,600		1,120,483	0.0%
	Ricoh Leasing Co., Ltd.	92,000		3,306,068	0.1%
	San-In Godo Bank, Ltd. (The)	912,700		8,393,767	0.2%
	Sawada Holdings Co., Ltd.	142,000		1,267,063	0.0%
	Senshu Ikeda Holdings, Inc.	1,492,900		5,764,086	0.2%
#	Shiga Bank, Ltd. (The)	1,365,000		7,835,982	0.2%
	Shikoku Bank, Ltd. (The)	243,600		3,805,404	0.1%
	Shimane Bank, Ltd. (The)	17,700		212,503	0.0%
	Shimizu Bank, Ltd. (The)	50,300		1,690,118	0.1%
#*	Showa Holdings Co., Ltd.	93,300		89,268	0.0%
	Sparx Group Co., Ltd.	623,300		1,536,871	0.0%
#	Strike Co., Ltd.	4,900		215,307	0.0%
	Taiko Bank, Ltd. (The)	24,700		568,942	0.0%
	Tochigi Bank, Ltd. (The)	672,700		3,066,040	0.1%
	Toho Bank, Ltd. (The)	1,291,900		4,986,816	0.1%
	Tohoku Bank, Ltd. (The)	58,800		810,690	0.0%
#	Tokai Tokyo Financial Holdings, Inc.	1,362,600		8,920,295	0.2%
#	Tokyo TY Financial Group, Inc.	172,338		4,653,684	0.1%
	Tomato Bank, Ltd.	50,500		704,788	0.0%
	TOMONY Holdings, Inc.	923,750		4,448,959	0.1%
	Tottori Bank, Ltd. (The)	46,300		742,196	0.0%
	Towa Bank, Ltd. (The)	209,200		2,221,414	0.1%
	Toyo Securities Co., Ltd.	461,000		1,289,811	0.0%
	Tsukuba Bank, Ltd.	534,200		1,975,920	0.1%
#	Yamagata Bank, Ltd. (The)	191,900		4,519,630	0.1%
	Yamanashi Chuo Bank, Ltd. (The)	991,000		4,413,673	0.1%
Total Financials				337,577,873	8.5%
Health Care — (4.1%)
#	Advantage Risk Management Co., Ltd.	37,300		372,972	0.0%
	As One Corp.	86,768		4,770,301	0.1%
#	ASKA Pharmaceutical Co., Ltd.	164,300		3,120,509	0.1%
	Biofermin Pharmaceutical Co., Ltd.	21,000		571,839	0.0%
	BML, Inc.	139,600		3,090,429	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Health Care — (Continued)
#	CMIC Holdings Co., Ltd.	76,100	$	1,122,469	0.0%
	Create Medic Co., Ltd.	29,500		286,788	0.0%
#	Daiken Medical Co., Ltd.	110,600		761,146	0.0%
	Daito Pharmaceutical Co., Ltd.	75,280		1,926,564	0.1%
	Dvx, Inc.	30,100		365,487	0.0%
#	Eiken Chemical Co., Ltd.	108,500		4,269,741	0.1%
	Elan Corp.	41,400		596,536	0.0%
#	EM Systems Co., Ltd.	57,100		1,112,032	0.0%
	EPS Holdings, Inc.	217,700		4,286,348	0.1%
	Falco Holdings Co., Ltd.	48,200		751,692	0.0%
#	FINDEX, Inc.	124,100		878,899	0.0%
	Fuji Pharma Co., Ltd.	49,800		1,803,080	0.1%
	Fukuda Denshi Co., Ltd.	20,800		1,456,244	0.1%
	Fuso Pharmaceutical Industries, Ltd.	41,500		1,041,767	0.0%
	Hogy Medical Co., Ltd.	74,900		5,129,516	0.1%
#	Iwaki & Co., Ltd.	179,000		759,203	0.0%
	Japan Lifeline Co., Ltd.	84,500		4,053,557	0.1%
	Japan Medical Dynamic Marketing, Inc.	115,600		1,118,087	0.0%
	Jeol, Ltd.	613,000		3,247,168	0.1%
	JMS Co., Ltd.	105,357		647,710	0.0%
	Kawasumi Laboratories, Inc.	80,080		617,966	0.0%
	Kissei Pharmaceutical Co., Ltd.	169,200		4,651,474	0.1%
	KYORIN Holdings, Inc.	281,400		5,779,314	0.2%
#	Linical Co., Ltd.	68,200		897,390	0.0%
	Mani, Inc.	151,400		4,335,405	0.1%
#*	Medical Data Vision Co., Ltd.	55,500		1,057,288	0.0%
	Medius Holdings Co., Ltd.	13,600		339,404	0.0%
	Menicon Co., Ltd.	86,400		3,915,757	0.1%
	Mochida Pharmaceutical Co., Ltd.	78,999		5,783,451	0.2%
#	N Field Co., Ltd.	76,100		1,411,643	0.1%
	Nagaileben Co., Ltd.	51,200		1,277,538	0.0%
	Nakanishi, Inc.	117,700		5,334,123	0.1%
#	ND Software Co., Ltd.	6,300		76,742	0.0%
#	Nichi-iko Pharmaceutical Co., Ltd.	268,850		4,175,191	0.1%
	NichiiGakkan Co., Ltd.	255,700		2,636,029	0.1%
	Nihon Kohden Corp.	407,000		9,060,324	0.2%
	Nikkiso Co., Ltd.	424,500		3,987,730	0.1%
	Nippon Chemiphar Co., Ltd.	17,100		789,254	0.0%
	Nipro Corp.	630,500		9,192,086	0.2%
	Nissui Pharmaceutical Co., Ltd.	74,900		975,446	0.0%
	Paramount Bed Holdings Co., Ltd.	108,500		4,784,756	0.1%
	Rion Co., Ltd.	54,800		1,074,809	0.0%
	Rohto Pharmaceutical Co., Ltd.	276,900		6,391,582	0.2%
	Sawai Pharmaceutical Co., Ltd.	197,500		11,202,256	0.3%
	Seed Co., Ltd.	35,400		1,131,355	0.0%
#*	Shin Nippon Biomedical Laboratories, Ltd.	122,100		596,935	0.0%
	Ship Healthcare Holdings, Inc.	283,600		8,868,703	0.2%
	Shofu, Inc.	43,700		526,562	0.0%
	Software Service, Inc.	18,000		829,257	0.0%
	Solasto Corp.	31,900		681,321	0.0%
	St-Care Holding Corp.	15,600		406,430	0.0%
#	Taiko Pharmaceutical Co., Ltd.	66,800		1,381,035	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Health Care — (Continued)
	Techno Medica Co., Ltd.	28,000	$	486,745	0.0%
#	Toho Holdings Co., Ltd.	326,300		6,414,065	0.2%
	Tokai Corp.	69,600		3,124,194	0.1%
	Torii Pharmaceutical Co., Ltd.	102,700		2,785,987	0.1%
#	Towa Pharmaceutical Co., Ltd.	60,700		3,139,415	0.1%
#	Tsukui Corp.	357,300		2,570,748	0.1%
	Tsumura & Co.	15,800		587,229	0.0%
	Uchiyama Holdings Co., Ltd.	24,200		115,355	0.0%
	Value HR Co., Ltd.	1,400		58,126	0.0%
	Vital KSK Holdings, Inc.	242,600		1,969,792	0.1%
	Wakamoto Pharmaceutical Co., Ltd.	107,000		282,029	0.0%
	WIN-Partners Co., Ltd.	99,100		1,220,899	0.0%
	ZERIA Pharmaceutical Co., Ltd.	188,699		3,306,611	0.1%
Total Health Care				177,769,835	4.4%
Industrials — (26.3%)
	NJS Co., Ltd.	32,900		417,402	0.0%
	A&A Material Corp.	12,700		151,272	0.0%
	Abist Co., Ltd.	18,500		742,059	0.0%
#	Advan Co., Ltd.	146,800		1,394,932	0.0%
#	Advanex, Inc.	22,099		627,172	0.0%
	Aeon Delight Co., Ltd.	133,900		5,012,149	0.1%
	Aica Kogyo Co., Ltd.	264,800		9,261,490	0.2%
	Aichi Corp.	221,900		1,642,798	0.1%
	Aida Engineering, Ltd.	356,300		4,154,800	0.1%
	AIT Corp.	57,300		668,442	0.0%
#	Ajis Co., Ltd.	28,200		606,072	0.0%
	Alinco, Inc.	78,300		866,353	0.0%
	Alps Logistics Co., Ltd.	100,700		745,180	0.0%
	Altech Corp.	48,650		1,687,368	0.1%
	Anest Iwata Corp.	209,600		2,126,626	0.1%
#*	Arrk Corp.	466,800		486,052	0.0%
	Asahi Diamond Industrial Co., Ltd.	356,100		3,454,645	0.1%
#	Asahi Kogyosha Co., Ltd.	28,500		908,483	0.0%
	Asanuma Corp.	410,000		1,521,606	0.0%
#	Asukanet Co., Ltd.	64,400		995,136	0.0%
	Asunaro Aoki Construction Co., Ltd.	138,400		1,254,137	0.0%
	Bando Chemical Industries, Ltd.	235,400		2,597,093	0.1%
	Bell System24 Holdings, Inc.	216,300		2,367,086	0.1%
#	Benefit One, Inc.	202,800		3,896,069	0.1%
#	Br Holdings Corp.	142,600		525,460	0.0%
	Bunka Shutter Co., Ltd.	372,700		3,176,109	0.1%
	Canare Electric Co., Ltd.	17,500		388,669	0.0%
	Career Design Center Co., Ltd.	32,400		495,932	0.0%
	Central Glass Co., Ltd.	242,800		5,429,135	0.1%
#	Central Security Patrols Co., Ltd.	52,500		952,907	0.0%
#	Chilled & Frozen Logistics Holdings Co., Ltd.	47,100		623,823	0.0%
#	Chiyoda Corp.	1,001,700		5,928,097	0.2%
	Chiyoda Integre Co., Ltd.	77,200		1,880,502	0.1%
	Chudenko Corp.	170,900		5,212,631	0.1%
	Chugai Ro Co., Ltd.	38,900		780,056	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Chuo Warehouse Co., Ltd.	900	$	9,908	0.0%
	CKD Corp.	324,800		6,396,049	0.2%
	Comany, Inc.	3,700		51,187	0.0%
	Cosel Co., Ltd.	124,600		1,725,339	0.1%
#	Creek & River Co., Ltd.	69,400		705,661	0.0%
	CTI Engineering Co., Ltd.	75,300		721,085	0.0%
#	CTS Co., Ltd.	121,200		845,774	0.0%
	Dai-Dan Co., Ltd.	96,000		2,460,555	0.1%
	Daido Kogyo Co., Ltd.	47,200		770,287	0.0%
#	Daihatsu Diesel Manufacturing Co., Ltd.	88,100		666,219	0.0%
	Daihen Corp.	609,000		5,487,646	0.1%
	Daiho Corp.	575,000		2,793,600	0.1%
	Daiichi Jitsugyo Co., Ltd.	55,600		1,634,088	0.1%
	Daiichi Kensetsu Corp.	2,000		26,271	0.0%
	Daiki Axis Co., Ltd.	31,900		362,977	0.0%
	Daiohs Corp.	4,200		55,479	0.0%
	Daiseki Co., Ltd.	223,263		5,520,361	0.1%
#	Daiseki Eco. Solution Co., Ltd.	39,159		500,872	0.0%
	Daisue Construction Co., Ltd.	43,500		397,778	0.0%
	Daiwa Industries, Ltd.	200,600		2,253,373	0.1%
	Denyo Co., Ltd.	104,900		1,762,080	0.1%
	DMG Mori Co., Ltd.	619,700		12,496,608	0.3%
	DMW Corp.	4,800		81,487	0.0%
	Duskin Co., Ltd.	234,100		6,421,255	0.2%
	Ebara Jitsugyo Co., Ltd.	39,300		605,500	0.0%
	EF-ON, Inc.	74,400		1,001,131	0.0%
	Eidai Co., Ltd.	139,000		684,635	0.0%
	en-japan, Inc.	158,100		6,097,226	0.2%
	Endo Lighting Corp.	68,900		788,992	0.0%
#*	Enshu, Ltd.	197,000		255,960	0.0%
	EPCO Co., Ltd.	6,600		182,151	0.0%
#*	Escrow Agent Japan Co., Ltd.	26,600		702,821	0.0%
#	F&M Co., Ltd.	27,500		261,828	0.0%
#	Freund Corp.	68,300		905,011	0.0%
	Fudo Tetra Corp.	1,074,200		1,831,541	0.1%
	Fuji Die Co., Ltd.	25,400		206,588	0.0%
#	Fuji Machine Manufacturing Co., Ltd.	203,600		3,883,386	0.1%
	Fujikura, Ltd.	994,000		8,675,364	0.2%
	Fujisash Co., Ltd.	528,600		502,350	0.0%
#	Fujitec Co., Ltd.	412,900		6,146,445	0.2%
	Fukuda Corp.	77,200		4,725,642	0.1%
	Fukushima Industries Corp.	81,300		3,147,338	0.1%
#	Fukuyama Transporting Co., Ltd.	170,480		5,531,352	0.1%
#	FULLCAST Holdings Co., Ltd.	127,700		2,355,334	0.1%
	Funai Soken Holdings, Inc.	148,660		5,461,967	0.1%
	Furukawa Co., Ltd.	214,300		3,890,053	0.1%
	Furusato Industries, Ltd.	55,600		908,282	0.0%
	Futaba Corp.	221,900		4,398,895	0.1%
	Gakujo Co., Ltd.	47,000		572,679	0.0%
	Gecoss Corp.	96,400		1,087,330	0.0%
#	Giken, Ltd.	80,500		2,313,417	0.1%
	Glory, Ltd.	243,900		9,121,396	0.2%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	GS Yuasa Corp.	1,761,000	$	8,854,741	0.2%
	Hamakyorex Co., Ltd.	106,400		2,985,737	0.1%
	Hanwa Co., Ltd.	244,200		9,268,572	0.2%
	Hazama Ando Corp.	1,180,700		9,626,535	0.3%
	Helios Techno Holdings Co., Ltd.	103,000		694,795	0.0%
	Hibiya Engineering, Ltd.	144,700		3,143,426	0.1%
	Hirakawa Hewtech Corp.	68,300		915,032	0.0%
#	Hirano Tecseed Co., Ltd.	62,800		1,132,772	0.0%
#	Hirata Corp.	51,300		5,761,324	0.2%
	Hisaka Works, Ltd.	145,000		1,351,834	0.0%
	Hitachi Transport System, Ltd.	15,100		373,666	0.0%
	Hitachi Zosen Corp.	1,068,479		5,629,957	0.2%
	Hito Communications, Inc.	45,300		799,926	0.0%
	Hokuetsu Industries Co., Ltd.	124,600		1,226,729	0.0%
#	Hokuriku Electrical Construction Co., Ltd.	48,900		447,829	0.0%
	Hosokawa Micron Corp.	45,100		2,857,652	0.1%
#	Howa Machinery, Ltd.	81,800		1,327,043	0.0%
#	Ichiken Co., Ltd.	31,400		785,849	0.0%
	Ichinen Holdings Co., Ltd.	124,100		1,767,694	0.1%
	Idec Corp.	183,500		3,882,499	0.1%
	Ihara Science Corp.	31,400		569,535	0.0%
	Iino Kaiun Kaisha, Ltd.	599,900		2,832,605	0.1%
	Inaba Denki Sangyo Co., Ltd.	143,100		6,281,525	0.2%
	Inaba Seisakusho Co., Ltd.	56,300		708,292	0.0%
	Inabata & Co., Ltd.	278,100		4,031,517	0.1%
	Interworks, Inc.	6,800		68,293	0.0%
	Inui Global Logistics Co., Ltd.	139,380		1,027,527	0.0%
	IR Japan Holdings, Ltd.	5,200		86,559	0.0%
	Iseki & Co., Ltd.	116,300		2,591,287	0.1%
#	Ishii Iron Works Co., Ltd.	11,000		175,992	0.0%
	Isolite Insulating Products Co., Ltd.	18,500		180,676	0.0%
	Itoki Corp.	255,600		1,963,241	0.1%
	Iwaki Co., Ltd.	12,400		327,156	0.0%
	Iwasaki Electric Co., Ltd.	37,200		604,010	0.0%
	Iwatani Corp.	232,400		7,008,422	0.2%
#	JAC Recruitment Co., Ltd.	96,100		1,782,577	0.1%
#	Jalux, Inc.	40,200		995,890	0.0%
#	Jamco Corp.	68,400		1,429,302	0.0%
	Japan Asia Group, Ltd.	121,600		507,033	0.0%
	Japan Foundation Engineering Co., Ltd.	156,600		559,531	0.0%
	Japan Pulp & Paper Co., Ltd.	61,800		2,608,644	0.1%
#	Japan Steel Works, Ltd. (The)	398,400		10,097,965	0.3%
	Japan Transcity Corp.	242,000		1,038,798	0.0%
	JK Holdings Co., Ltd.	92,440		730,935	0.0%
	Juki Corp.	194,500		3,024,465	0.1%
	Kamei Corp.	138,000		2,333,906	0.1%
	Kanaden Corp.	116,600		1,335,655	0.0%
	Kanagawa Chuo Kotsu Co., Ltd.	38,800		1,290,163	0.0%
#	Kanamoto Co., Ltd.	171,600		5,641,513	0.2%
	Kandenko Co., Ltd.	563,300		5,540,589	0.1%
	Kanematsu Corp.	487,725		6,416,267	0.2%
	Katakura Industries Co., Ltd.	143,700		1,794,167	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Kato Works Co., Ltd.	62,800	$	1,962,213	0.1%
#	KAWADA TECHNOLOGIES, Inc.	48,400		2,866,471	0.1%
	Kawagishi Bridge Works Co., Ltd.	41,000		429,085	0.0%
	Kawasaki Kinkai Kisen Kaisha, Ltd.	9,599		296,188	0.0%
#*	Kawasaki Kisen Kaisha, Ltd.	275,800		7,201,354	0.2%
	Keihin Co., Ltd.	24,900		365,743	0.0%
	KFC, Ltd.	5,000		96,633	0.0%
*	KI Holdings Co., Ltd.	88,000		244,296	0.0%
	Kimura Chemical Plants Co., Ltd.	53,200		216,670	0.0%
	Kimura Unity Co., Ltd.	2,200		22,740	0.0%
	King Jim Co., Ltd.	97,300		896,149	0.0%
#*	Kinki Sharyo Co., Ltd. (The)	21,699		508,502	0.0%
	Kintetsu World Express, Inc.	217,800		3,748,661	0.1%
	Kitagawa Iron Works Co., Ltd.	53,700		1,464,040	0.0%
	Kitano Construction Corp.	280,000		1,260,449	0.0%
#	Kito Corp.	123,600		1,587,443	0.1%
#	Kitz Corp.	543,500		4,656,911	0.1%
#*	Kobe Electric Railway Co., Ltd.	8,099		271,855	0.0%
#	Kobelco Eco-Solutions Co., Ltd.	20,599		348,325	0.0%
	Koike Sanso Kogyo Co., Ltd.	14,500		382,708	0.0%
#	Kokusai Co., Ltd.	47,500		509,714	0.0%
	Kokuyo Co., Ltd.	494,925		8,874,939	0.2%
	KOMAIHALTEC, Inc.	25,700		594,430	0.0%
	Komatsu Wall Industry Co., Ltd.	42,800		817,947	0.0%
	Komori Corp.	348,700		4,910,789	0.1%
	Kondotec, Inc.	124,000		1,316,678	0.0%
	Konoike Transport Co., Ltd.	166,700		2,565,092	0.1%
#*	Kosaido Co., Ltd.	231,200		1,051,149	0.0%
#	KRS Corp.	39,500		1,124,356	0.0%
	Kumagai Gumi Co., Ltd.	217,500		6,914,022	0.2%
	Kuroda Electric Co., Ltd.	208,600		3,723,942	0.1%
	Kyodo Printing Co., Ltd.	50,600		1,685,894	0.1%
	Kyokuto Boeki Kaisha, Ltd.	152,000		521,052	0.0%
	Kyokuto Kaihatsu Kogyo Co., Ltd.	190,500		3,411,443	0.1%
	Kyoritsu Printing Co., Ltd.	142,000		445,279	0.0%
	Kyowa Exeo Corp.	406,900		8,863,610	0.2%
	Kyudenko Corp.	3,000		132,458	0.0%
#	Like Co., Ltd.	58,600		1,099,950	0.0%
#	Link And Motivation, Inc.	223,900		1,541,227	0.0%
	Lonseal Corp.	13,900		324,939	0.0%
	Luckland Co., Ltd.	19,100		359,953	0.0%
	Maeda Corp.	640,000		8,023,943	0.2%
	Maeda Kosen Co., Ltd.	125,100		2,171,733	0.1%
	Maeda Road Construction Co., Ltd.	387,000		8,333,969	0.2%
	Maezawa Industries, Inc.	35,700		132,705	0.0%
#	Maezawa Kasei Industries Co., Ltd.	60,500		670,358	0.0%
	Maezawa Kyuso Industries Co., Ltd.	53,200		873,025	0.0%
	Makino Milling Machine Co., Ltd.	622,000		5,868,763	0.2%
#	Marubeni Construction Material Lease Co., Ltd.	75,000		170,168	0.0%
	Marufuji Sheet Piling Co., Ltd.	8,100		248,505	0.0%
	Maruka Machinery Co., Ltd.	34,500		668,240	0.0%
#	Maruwa Unyu Kikan Co., Ltd.	74,400		1,491,836	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Maruyama Manufacturing Co., Inc.	23,000	$	397,182	0.0%
	Maruzen Co., Ltd.	62,000		1,184,512	0.0%
	Maruzen Showa Unyu Co., Ltd.	332,000		1,573,408	0.1%
	Matsuda Sangyo Co., Ltd.	92,582		1,327,995	0.0%
	Matsui Construction Co., Ltd.	135,300		1,209,622	0.0%
	Max Co., Ltd.	193,000		2,729,424	0.1%
	Meidensha Corp.	1,262,050		4,993,525	0.1%
	Meiji Electric Industries Co., Ltd.	29,900		467,610	0.0%
	Meiji Shipping Co., Ltd.	111,000		447,510	0.0%
	Meisei Industrial Co., Ltd.	251,000		1,756,893	0.1%
	Meitec Corp.	162,200		7,923,048	0.2%
	Meiwa Corp.	158,000		725,785	0.0%
	Mesco, Inc.	22,000		254,699	0.0%
	METAWATER Co., Ltd.	79,600		2,113,116	0.1%
#	Mie Kotsu Group Holdings, Inc.	305,800		1,321,518	0.0%
	Mirait Holdings Corp.	355,385		4,644,036	0.1%
	Mitani Corp.	72,900		2,891,079	0.1%
	Mitani Sangyo Co., Ltd.	12,000		45,600	0.0%
	Mitsubishi Kakoki Kaisha, Ltd.	37,900		821,369	0.0%
	Mitsubishi Logisnext Co., Ltd.	212,200		1,559,368	0.1%
	Mitsubishi Pencil Co., Ltd.	223,800		5,307,450	0.1%
	Mitsuboshi Belting, Ltd.	319,000		3,982,946	0.1%
	Mitsui Engineering & Shipbuilding Co., Ltd.	510,900		6,684,349	0.2%
	Mitsui Matsushima Co., Ltd.	72,100		908,729	0.0%
*	Mitsui-Soko Holdings Co., Ltd.	687,000		2,137,788	0.1%
	Mitsumura Printing Co., Ltd.	9,300		205,799	0.0%
	Miyaji Engineering Group, Inc.	35,418		971,601	0.0%
	Morita Holdings Corp.	201,300		3,464,061	0.1%
	Musashi Co., Ltd.	3,000		48,836	0.0%
	NAC Co., Ltd.	65,700		559,937	0.0%
	Nachi-Fujikoshi Corp.	1,262,000		7,779,006	0.2%
#	Nadex Co., Ltd.	16,000		141,909	0.0%
	Nagase & Co., Ltd.	535,500		9,095,948	0.2%
	Naigai Trans Line, Ltd.	29,000		432,928	0.0%
	Nakabayashi Co., Ltd.	117,000		754,386	0.0%
	Nakamoto Packs Co., Ltd.	10,600		357,009	0.0%
	Nakano Corp.	78,600		446,076	0.0%
	Nakano Refrigerators Co., Ltd.	800		28,500	0.0%
#	Namura Shipbuilding Co., Ltd.	336,028		2,085,270	0.1%
	Narasaki Sangyo Co., Ltd.	109,000		369,363	0.0%
	NDS Co., Ltd.	27,500		928,753	0.0%
	NEC Capital Solutions, Ltd.	58,800		1,161,974	0.0%
	Nichias Corp.	587,000		7,643,299	0.2%
	Nichiban Co., Ltd.	70,500		1,575,911	0.1%
	Nichiden Corp.	72,600		1,557,410	0.1%
	Nichiha Corp.	178,680		7,186,416	0.2%
	Nichireki Co., Ltd.	155,600		1,967,056	0.1%
	Nihon Dengi Co., Ltd.	24,900		666,872	0.0%
	Nihon Flush Co., Ltd.	48,600		904,696	0.0%
#	Nihon Trim Co., Ltd.	31,500		1,230,355	0.0%
	Nikkato Corp.	700		3,805	0.0%
	Nikko Co., Ltd.	36,700		745,397	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Nikkon Holdings Co., Ltd.	356,800	$	9,138,051	0.2%
	Nippi, Inc.	6,600		249,847	0.0%
	Nippo Corp.	198,000		4,134,358	0.1%
	Nippon Air Conditioning Services Co., Ltd.	139,400		928,550	0.0%
	Nippon Aqua Co., Ltd.	92,800		420,159	0.0%
#	Nippon Carbon Co., Ltd.	66,500		2,912,144	0.1%
	Nippon Concept Corp.	25,600		286,493	0.0%
	Nippon Densetsu Kogyo Co., Ltd.	221,900		4,815,964	0.1%
	Nippon Dry-Chemical Co., Ltd.	300		6,477	0.0%
#	Nippon Filcon Co., Ltd.	70,900		518,118	0.0%
	Nippon Hume Corp.	129,400		895,070	0.0%
	Nippon Kanzai Co., Ltd.	106,900		1,926,164	0.1%
	Nippon Koei Co., Ltd.	87,900		3,228,533	0.1%
	Nippon Parking Development Co., Ltd.	1,259,200		1,846,741	0.1%
	Nippon Rietec Co., Ltd.	8,300		91,081	0.0%
	Nippon Road Co., Ltd. (The)	45,000		2,592,788	0.1%
#	Nippon Seisen Co., Ltd.	20,000		967,495	0.0%
#*	Nippon Sharyo, Ltd.	452,000		1,277,284	0.0%
#*	Nippon Sheet Glass Co., Ltd.	632,100		5,067,923	0.1%
	Nippon Steel & Sumikin Bussan Corp.	90,760		5,010,976	0.1%
	Nippon Thompson Co., Ltd.	383,000		2,231,088	0.1%
#	Nippon Tungsten Co., Ltd.	6,199		149,658	0.0%
	Nishi-Nippon Railroad Co., Ltd.	406,600		10,869,438	0.3%
	Nishimatsu Construction Co., Ltd.	358,800		10,832,245	0.3%
	Nishio Rent All Co., Ltd.	104,000		3,631,500	0.1%
#	Nissei ASB Machine Co., Ltd.	52,300		2,324,086	0.1%
	Nissei Corp.	37,900		376,106	0.0%
	Nissei Plastic Industrial Co., Ltd.	175,800		2,344,643	0.1%
#	Nisshinbo Holdings, Inc.	911,080		10,939,879	0.3%
	Nissin Corp.	93,600		2,886,281	0.1%
	Nissin Electric Co., Ltd.	388,100		4,750,651	0.1%
	Nitta Corp.	117,500		4,846,557	0.1%
	Nitto Boseki Co., Ltd.	186,800		6,278,128	0.2%
	Nitto Kogyo Corp.	175,800		3,013,199	0.1%
	Nitto Kohki Co., Ltd.	68,500		1,697,260	0.1%
	Nitto Seiko Co., Ltd.	166,200		963,141	0.0%
	Nittoc Construction Co., Ltd.	173,600		945,308	0.0%
	Nittoku Engineering Co., Ltd.	81,900		3,150,122	0.1%
	nms Holdings Co.	6,300		73,405	0.0%
	Noda Corp.	145,800		1,701,167	0.1%
	Nomura Co., Ltd.	247,700		5,169,299	0.1%
	Noritake Co., Ltd.	71,200		3,431,610	0.1%
	Noritz Corp.	172,400		3,167,647	0.1%
	NS Tool Co., Ltd.	39,600		774,587	0.0%
	NS United Kaiun Kaisha, Ltd.	65,600		1,518,199	0.0%
	NTN Corp.	422,600		2,052,691	0.1%
	Obara Group, Inc.	75,300		4,355,875	0.1%
	Odelic Co., Ltd.	24,000		1,065,934	0.0%
#	Ohba Co., Ltd.	64,900		298,550	0.0%
	Ohmoto Gumi Co., Ltd.	2,200		91,914	0.0%
	Oiles Corp.	143,150		2,817,922	0.1%
	Okabe Co., Ltd.	242,100		2,321,553	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Okada Aiyon Corp.	27,400	$	475,644	0.0%
#	Okamoto Machine Tool Works, Ltd.	25,399		682,146	0.0%
	Okamura Corp.	409,100		4,589,438	0.1%
	OKI Electric Cable Co., Ltd.	7,800		244,204	0.0%
#	OKK Corp.	45,900		509,991	0.0%
	OKUMA Corp.	169,800		10,437,221	0.3%
	Okumura Corp.	199,880		7,651,389	0.2%
	Onoken Co., Ltd.	103,800		1,765,417	0.1%
	Organo Corp.	46,800		1,238,354	0.0%
	Origin Electric Co., Ltd.	34,600		623,448	0.0%
#	OSG Corp.	412,700		8,932,806	0.2%
	OSJB Holdings Corp.	840,700		2,606,208	0.1%
	Outsourcing, Inc.	485,800		6,697,265	0.2%
	Oval Corp.	20,500		62,673	0.0%
	Oyo Corp.	135,800		2,073,037	0.1%
#	Paraca, Inc.	24,700		521,029	0.0%
	Parker Corp.	17,000		107,879	0.0%
#	Pasco Corp.	137,000		416,041	0.0%
#	Pasona Group, Inc.	112,200		1,579,815	0.1%
	Pegasus Sewing Machine Manufacturing Co., Ltd.	126,500		846,641	0.0%
	Penta-Ocean Construction Co., Ltd.	1,890,000		12,503,434	0.3%
	Pilot Corp.	221,300		11,188,873	0.3%
#	Prestige International, Inc.	300,400		3,240,534	0.1%
	Pronexus, Inc.	125,000		1,516,971	0.0%
#	PS Mitsubishi Construction Co., Ltd.	187,500		1,199,057	0.0%
	Punch Industry Co., Ltd.	51,800		940,854	0.0%
	Quick Co., Ltd.	65,100		1,126,844	0.0%
	Raito Kogyo Co., Ltd.	328,900		3,360,476	0.1%
	Rasa Corp.	27,000		276,583	0.0%
#	Relia, Inc.	285,100		3,353,962	0.1%
	Rheon Automatic Machinery Co., Ltd.	110,500		1,670,091	0.1%
	Rix Corp.	3,200		52,469	0.0%
	Ryobi, Ltd.	173,440		4,466,724	0.1%
	Sakai Heavy Industries, Ltd.	23,700		770,987	0.0%
	Sakai Moving Service Co., Ltd.	67,000		3,893,195	0.1%
#*	Sanix, Inc.	173,800		447,003	0.0%
	Sanki Engineering Co., Ltd.	282,700		3,253,525	0.1%
	Sanko Gosei, Ltd.	39,300		195,703	0.0%
#	Sanko Metal Industrial Co., Ltd.	13,600		491,875	0.0%
	Sankyo Tateyama, Inc.	166,200		2,428,013	0.1%
	Sankyu, Inc.	250,200		10,344,070	0.3%
#	Sanoyas Holdings Corp.	141,400		398,008	0.0%
	Sansei Technologies, Inc.	46,000		390,531	0.0%
#	Sansha Electric Manufacturing Co., Ltd.	14,500		160,009	0.0%
	Sanwa Holdings Corp.	259,700		3,256,713	0.1%
	Sanyo Denki Co., Ltd.	57,800		3,838,701	0.1%
#	Sanyo Engineering & Construction, Inc.	72,700		572,805	0.0%
	Sanyo Industries, Ltd.	9,900		193,144	0.0%
	Sanyo Trading Co., Ltd.	72,900		1,888,798	0.1%
	Sata Construction Co., Ltd.	85,399		358,563	0.0%
	Sato Holdings Corp.	158,700		3,861,455	0.1%
	Sato Shoji Corp.	73,700		802,531	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#	Sawafuji Electric Co., Ltd.	7,000	$	173,279	0.0%
	SBS Holdings, Inc.	117,700		929,964	0.0%
	SEC Carbon, Ltd.	5,400		266,423	0.0%
#	Secom Joshinetsu Co., Ltd.	32,000		1,072,825	0.0%
	Seibu Electric Industry Co., Ltd.	20,500		458,346	0.0%
	Seika Corp.	62,600		1,659,987	0.1%
	Seikitokyu Kogyo Co., Ltd.	203,400		1,153,533	0.0%
	Sekisui Jushi Corp.	180,900		4,040,319	0.1%
	Senko Group Holdings Co., Ltd.	648,200		4,701,144	0.1%
	Senshu Electric Co., Ltd.	36,600		809,878	0.0%
	Shibusawa Warehouse Co., Ltd. (The)	55,300		1,026,631	0.0%
	Shibuya Corp.	108,000		4,145,900	0.1%
#	Shima Seiki Manufacturing, Ltd.	153,300		8,620,151	0.2%
	Shin Nippon Air Technologies Co., Ltd.	86,280		1,239,358	0.0%
#	Shin-Keisei Electric Railway Co., Ltd.	36,199		686,175	0.0%
	Shinmaywa Industries, Ltd.	522,700		5,142,749	0.1%
	Shinnihon Corp.	165,900		1,474,608	0.0%
	Shinsho Corp.	35,500		1,022,148	0.0%
	Shinwa Co. Ltd.	48,900		1,111,105	0.0%
*	Shoko Co., Ltd.	330,000		340,336	0.0%
	Showa Aircraft Industry Co., Ltd.	23,037		285,137	0.0%
#	SIGMAXYZ, Inc.	56,700		413,406	0.0%
	Sinfonia Technology Co., Ltd.	806,000		3,280,159	0.1%
	Sinko Industries, Ltd.	119,600		1,947,261	0.1%
	Sintokogio, Ltd.	286,800		3,337,774	0.1%
	Soda Nikka Co., Ltd.	105,000		543,244	0.0%
#	Sodick Co., Ltd.	292,200		4,043,533	0.1%
	Space Co., Ltd.	74,420		1,144,632	0.0%
	Srg Takamiya Co., Ltd.	125,100		760,706	0.0%
	Star Micronics Co., Ltd.	214,600		3,783,363	0.1%
#	Subaru Enterprise Co., Ltd.	7,100		491,097	0.0%
	Sugimoto & Co., Ltd.	47,200		730,079	0.0%
#	Sumiseki Holdings, Inc.	212,200		309,716	0.0%
	Sumitomo Densetsu Co., Ltd.	111,300		2,256,665	0.1%
	Sumitomo Mitsui Construction Co., Ltd.	1,095,540		6,749,159	0.2%
	Sumitomo Precision Products Co., Ltd.	189,000		611,546	0.0%
	Sumitomo Warehouse Co., Ltd. (The)	778,000		5,340,215	0.1%
*	SWCC Showa Holdings Co., Ltd.	156,200		1,459,861	0.0%
	Tacmina Corp.	1,700		29,197	0.0%
#	Tadano, Ltd.	658,100		10,029,797	0.3%
	Taihei Dengyo Kaisha, Ltd.	107,000		2,732,081	0.1%
	Taiheiyo Kouhatsu, Inc.	44,200		392,871	0.0%
	Taikisha, Ltd.	147,000		4,281,222	0.1%
*	Takagi Seiko Corp.	2,000		81,517	0.0%
	Takamatsu Construction Group Co., Ltd.	82,400		2,245,535	0.1%
	Takamatsu Machinery Co., Ltd.	4,000		38,312	0.0%
#	Takano Co., Ltd.	53,500		580,626	0.0%
	Takaoka Toko Co., Ltd.	69,320		1,133,216	0.0%
#	Takara Printing Co., Ltd.	52,755		822,556	0.0%
	Takara Standard Co., Ltd.	242,800		4,151,248	0.1%
	Takasago Thermal Engineering Co., Ltd.	326,000		5,739,992	0.2%
	Takashima & Co., Ltd.	23,600		471,288	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Takeei Corp.	138,100	$	1,393,091	0.0%
#	Takeuchi Manufacturing Co., Ltd.	245,900		5,208,992	0.1%
	Takigami Steel Construction Co., Ltd. (The)	5,300		264,819	0.0%
	Takisawa Machine Tool Co., Ltd.	36,800		671,342	0.0%
	Takuma Co., Ltd.	438,000		5,388,248	0.1%
	TANABE ENGINEERING Corp.	1,600		14,916	0.0%
	Tanseisha Co., Ltd.	219,949		2,615,883	0.1%
	Tatsuta Electric Wire and Cable Co., Ltd.	266,500		1,954,727	0.1%
	TECHNO ASSOCIE Co., Ltd.	56,800		693,526	0.0%
	Techno Ryowa, Ltd.	69,390		495,514	0.0%
	Techno Smart Corp.	32,200		502,685	0.0%
	TechnoPro Holdings, Inc.	217,600		9,976,612	0.3%
	Teikoku Electric Manufacturing Co., Ltd.	116,400		1,233,555	0.0%
	Teikoku Sen-I Co., Ltd.	119,800		2,542,344	0.1%
	Tekken Corp.	74,900		2,511,820	0.1%
	Tenox Corp.	5,800		66,569	0.0%
	Teraoka Seisakusho Co., Ltd.	53,600		379,858	0.0%
	Terasaki Electric Co., Ltd.	15,700		187,805	0.0%
#*	Toa Corp.	92,900		2,018,961	0.1%
	TOA ROAD Corp.	26,600		1,094,086	0.0%
	Tobishima Corp.	1,220,300		1,821,213	0.1%
	Tocalo Co., Ltd.	91,900		3,708,342	0.1%
	Toda Corp.	1,071,000		8,725,646	0.2%
	Toenec Corp.	53,200		1,553,219	0.0%
#	Togami Electric Manufacturing Co., Ltd.	12,800		262,023	0.0%
	TOKAI Holdings Corp.	536,200		4,287,197	0.1%
	Tokai Lease Co., Ltd.	17,000		319,048	0.0%
	Tokyo Energy & Systems, Inc.	142,600		1,659,455	0.1%
#	Tokyo Keiki, Inc.	84,199		1,133,514	0.0%
#*	Tokyo Kikai Seisakusho, Ltd.	1,700		9,643	0.0%
	Tokyo Sangyo Co., Ltd.	86,800		408,790	0.0%
	Tokyu Construction Co., Ltd.	539,500		4,751,220	0.1%
	Toli Corp.	297,000		1,079,699	0.0%
	Tomoe Corp.	160,700		668,030	0.0%
#	Tomoe Engineering Co., Ltd.	46,000		878,591	0.0%
	Tonami Holdings Co., Ltd.	36,700		1,828,572	0.1%
	Toppan Forms Co., Ltd.	298,500		3,088,821	0.1%
#	Torishima Pump Manufacturing Co., Ltd.	124,300		1,290,214	0.0%
	Toshiba Machine Co., Ltd.	740,000		4,594,745	0.1%
	Toshiba Plant Systems & Services Corp.	289,650		4,996,282	0.1%
#	Tosho Printing Co., Ltd.	143,999		1,386,454	0.0%
	Totech Corp.	33,100		602,714	0.0%
	Totetsu Kogyo Co., Ltd.	158,200		5,297,627	0.1%
	Totoku Electric Co., Ltd.	7,100		153,995	0.0%
	Toyo Construction Co., Ltd.	492,500		2,493,163	0.1%
#	Toyo Denki Seizo K.K.	46,700		829,297	0.0%
#	Toyo Engineering Corp.	200,679		2,398,899	0.1%
	Toyo Machinery & Metal Co., Ltd.	100,900		776,137	0.0%
	Toyo Tanso Co., Ltd.	73,800		2,083,430	0.1%
#	Toyo Wharf & Warehouse Co., Ltd.	35,400		598,212	0.0%
	Trancom Co., Ltd.	46,200		2,807,162	0.1%
	Trinity Industrial Corp.	25,000		203,231	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Trusco Nakayama Corp.	335,300	$	8,578,697	0.2%
	Trust Tech, Inc.	52,500		1,529,029	0.0%
#	Tsubaki Nakashima Co., Ltd.	145,800		3,361,989	0.1%
	Tsubakimoto Chain Co.	778,700		6,710,719	0.2%
	Tsubakimoto Kogyo Co., Ltd.	23,400		605,289	0.0%
#*	Tsudakoma Corp.	320,000		575,148	0.0%
#	Tsugami Corp.	375,000		3,611,662	0.1%
	Tsukishima Kikai Co., Ltd.	174,400		2,094,810	0.1%
	Tsurumi Manufacturing Co., Ltd.	109,800		1,860,950	0.1%
	TTK Co., Ltd.	62,000		302,520	0.0%
	Uchida Yoko Co., Ltd.	59,400		1,884,351	0.1%
#	Ueki Corp.	34,800		834,339	0.0%
	Union Tool Co.	56,400		1,823,339	0.1%
	Ushio, Inc.	657,700		9,129,387	0.2%
#*	UT Group Co., Ltd.	161,000		3,300,529	0.1%
	Utoc Corp.	98,700		464,508	0.0%
	Wakachiku Construction Co., Ltd.	105,200		1,756,184	0.1%
	Wakita & Co., Ltd.	255,200		3,139,377	0.1%
	WDB Holdings Co., Ltd.	53,300		1,298,374	0.0%
	Weathernews, Inc.	39,600		1,279,985	0.0%
#	Will Group, Inc.	69,900		814,252	0.0%
	World Holdings Co., Ltd.	44,600		1,435,120	0.0%
	Yahagi Construction Co., Ltd.	166,900		1,511,498	0.0%
	YAMABIKO Corp.	230,328		3,134,216	0.1%
	YAMADA Consulting Group Co., Ltd.	50,600		977,561	0.0%
#	Yamashin-Filter Corp.	36,200		1,318,551	0.0%
	Yamashina Corp.	327,700		208,097	0.0%
	Yamato Corp.	95,400		707,374	0.0%
#	Yamaura Corp.	45,800		388,258	0.0%
	Yamazen Corp.	345,700		3,952,433	0.1%
	Yasuda Logistics Corp.	99,500		830,847	0.0%
	Yokogawa Bridge Holdings Corp.	214,100		4,565,742	0.1%
	Yondenko Corp.	27,360		761,866	0.0%
	Yuasa Trading Co., Ltd.	108,500		4,000,199	0.1%
	Yuken Kogyo Co., Ltd.	20,100		475,212	0.0%
#	Yumeshin Holdings Co., Ltd.	272,500		1,922,777	0.1%
	Yurtec Corp.	255,000		2,228,259	0.1%
	Yusen Logistics Co., Ltd.	112,100		1,307,023	0.0%
	Yushin Precision Equipment Co., Ltd.	900		25,466	0.0%
	Zaoh Co., Ltd.	4,800		70,925	0.0%
#	Zenitaka Corp. (The)	14,700		739,299	0.0%
	Zuiko Corp.	22,800		767,087	0.0%
Total Industrials				1,144,147,685	28.7%
Information Technology — (13.4%)
#	A&D Co., Ltd.	113,900		539,705	0.0%
#*	Access Co., Ltd.	236,400		2,039,469	0.1%
	Ad-sol Nissin Corp.	34,100		374,875	0.0%
#	Adtec Plasma Technology Co., Ltd.	33,400		513,172	0.0%
#	Aeria, Inc.	57,400		966,024	0.0%
	AGS Corp.	2,400		21,451	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
#	Ai Holdings Corp.	234,800	$	5,764,739	0.2%
	Aichi Tokei Denki Co., Ltd.	18,700		671,678	0.0%
	Aiphone Co., Ltd.	71,900		1,199,621	0.0%
#*	Akatsuki, Inc.	20,700		1,778,406	0.1%
	Alpha Systems, Inc.	39,260		862,472	0.0%
	Amano Corp.	391,500		9,633,436	0.3%
#	Anritsu Corp.	873,500		8,224,957	0.2%
	AOI Electronic Co., Ltd.	29,400		1,377,164	0.0%
#*	Apic Yamada Corp.	32,900		159,593	0.0%
	Argo Graphics, Inc.	53,200		1,738,076	0.1%
	Arisawa Manufacturing Co., Ltd.	200,900		1,826,577	0.1%
#	ArtSpark Holdings, Inc.	41,500		616,755	0.0%
#	Asahi Net, Inc.	102,300		495,184	0.0%
	Ateam, Inc.	71,500		1,892,582	0.1%
*	Atrae, Inc.	2,700		160,868	0.0%
#	Aval Data Corp.	18,100		318,540	0.0%
#	Axell Corp.	44,900		314,508	0.0%
#*	Bengo4.com, Inc.	38,900		495,766	0.0%
#	Broadband Tower, Inc.	263,100		509,585	0.0%
	Broadleaf Co., Ltd.	283,700		2,329,224	0.1%
	CAC Holdings Corp.	81,800		818,217	0.0%
	Canon Electronics, Inc.	125,200		2,817,337	0.1%
#	Capcom Co., Ltd.	265,000		6,742,244	0.2%
	CCS, Inc.	1,500		50,341	0.0%
	CDS Co., Ltd.	3,900		46,518	0.0%
	Chino Corp.	37,100		436,218	0.0%
	Citizen Watch Co., Ltd.	1,479,400		10,876,479	0.3%
	CMK Corp.	349,300		3,626,732	0.1%
#	COLOPL, Inc.	318,000		3,530,903	0.1%
	Computer Engineering & Consulting, Ltd.	85,500		2,046,132	0.1%
	Computer Institute of Japan, Ltd.	83,500		539,546	0.0%
	Comture Corp.	63,000		1,272,462	0.0%
	CONEXIO Corp.	102,600		1,894,455	0.1%
#	COOKPAD, Inc.	392,300		2,632,400	0.1%
#	Core Corp.	37,600		553,184	0.0%
	Cresco, Ltd.	33,200		1,385,639	0.0%
#	CROOZ, Inc.	52,000		1,174,190	0.0%
#	Cube System, Inc.	48,400		360,145	0.0%
#	Cybernet Systems Co., Ltd.	48,200		324,634	0.0%
#*	Cyberstep, Inc.	22,100		536,287	0.0%
	Cybozu, Inc.	109,700		503,987	0.0%
	Dai-ichi Seiko Co., Ltd.	55,600		1,412,991	0.0%
	Daiko Denshi Tsushin, Ltd.	8,000		111,494	0.0%
	Daishinku Corp.	44,399		768,242	0.0%
	Daitron Co., Ltd.	54,200		1,010,472	0.0%
	Daiwabo Holdings Co., Ltd.	118,600		4,713,176	0.1%
#*	DDS, Inc.	89,500		597,474	0.0%
	Denki Kogyo Co., Ltd.	71,200		1,831,484	0.1%
	Densan System Co., Ltd.	27,900		536,413	0.0%
#	Designone Japan, Inc.	35,600		436,626	0.0%
	Dexerials Corp.	323,600		3,646,336	0.1%
	Digital Arts, Inc.	66,000		2,700,337	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
	Digital Information Technologies Corp.	19,500	$	357,009	0.0%
	Dip Corp.	196,200		4,791,030	0.1%
	DKK-Toa Corp.	42,300		330,127	0.0%
*	Drecom Co., Ltd.	67,100		836,915	0.0%
	DTS Corp.	128,500		3,856,186	0.1%
#	E-Guardian, Inc.	58,300		1,208,790	0.0%
	Eizo Corp.	108,300		4,489,664	0.1%
#	Elecom Co., Ltd.	104,700		2,098,045	0.1%
	Elematec Corp.	52,271		1,196,842	0.0%
#*	Enigmo, Inc.	73,800		760,260	0.0%
	Enomoto Co., Ltd.	2,400		40,568	0.0%
	Enplas Corp.	63,100		2,673,377	0.1%
	ESPEC Corp.	128,600		2,927,700	0.1%
	Excel Co., Ltd.	44,000		981,756	0.0%
	F@N Communications, Inc.	303,400		3,139,200	0.1%
#	Faith, Inc.	34,910		397,434	0.0%
#*	FDK Corp.	552,000		1,312,000	0.0%
	Fenwal Controls of Japan, Ltd.	9,200		137,085	0.0%
	Ferrotec Holdings Corp.	234,700		4,824,704	0.1%
#*	FFRI, Inc.	24,500		924,768	0.0%
#*	FIRSTLOGIC, Inc.	12,700		295,135	0.0%
#	Fixstars Corp.	24,000		871,590	0.0%
#*	Flight Holdings, Inc.	57,600		460,449	0.0%
	Forval Corp.	17,400		115,328	0.0%
#	FTGroup Co., Ltd.	74,000		608,040	0.0%
	Fuji Soft, Inc.	137,200		4,172,478	0.1%
	Fujitsu Frontech, Ltd.	75,300		1,319,003	0.0%
#	Fukui Computer Holdings, Inc.	46,600		1,169,696	0.0%
#*	Full Speed, Inc.	45,200		397,314	0.0%
	Furuno Electric Co., Ltd.	148,700		1,022,807	0.0%
	Furuya Metal Co., Ltd.	14,800		539,882	0.0%
	Future Corp.	159,900		1,615,199	0.1%
#	G Three Holdings Corp.	214,900		299,587	0.0%
	GL Sciences, Inc.	20,500		366,776	0.0%
#	GMO Cloud K.K.	26,700		707,622	0.0%
#	GMO internet, Inc.	440,600		6,806,964	0.2%
#	GMO Payment Gateway, Inc.	80,800		5,911,870	0.2%
	Gree, Inc.	672,200		4,563,262	0.1%
*	Gunosy, Inc.	75,700		2,000,694	0.1%
	Gurunavi, Inc.	177,600		2,290,376	0.1%
	Hagiwara Electric Co., Ltd.	35,000		1,065,192	0.0%
	Hakuto Co., Ltd.	97,100		1,498,325	0.0%
#	Hearts United Group Co., Ltd.	89,200		1,323,230	0.0%
	Hibino Corp.	25,200		446,976	0.0%
	Hioki EE Corp.	62,200		1,356,248	0.0%
#	Hitachi Kokusai Electric, Inc.	332,500		9,210,643	0.2%
#	Hochiki Corp.	129,700		2,683,235	0.1%
#	Hokuriku Electric Industry Co., Ltd.	48,200		663,463	0.0%
	Honda Tsushin Kogyo Co., Ltd.	49,600		1,004,015	0.0%
	Horiba, Ltd.	61,650		3,673,372	0.1%
	Hosiden Corp.	362,000		6,249,911	0.2%
	I-Net Corp.	67,290		1,051,796	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
#	I-O Data Device, Inc.	45,000	$	451,583	0.0%
#	Ibiden Co., Ltd.	338,578		5,669,314	0.2%
	Icom, Inc.	69,000		1,604,433	0.1%
#*	IGNIS, Ltd.	15,400		519,476	0.0%
#	Ikegami Tsushinki Co., Ltd.	385,000		578,480	0.0%
	Ines Corp.	170,000		1,591,886	0.1%
	Infocom Corp.	80,400		2,062,946	0.1%
#	Infomart Corp.	559,200		4,227,105	0.1%
	Information Development Co.	42,700		468,101	0.0%
	Information Services International-Dentsu, Ltd.	78,100		1,737,872	0.1%
#	Innotech Corp.	111,100		958,430	0.0%
#	Intelligent Wave, Inc.	61,700		393,924	0.0%
#	Inter Action Corp.	61,000		437,071	0.0%
	Internet Initiative Japan, Inc.	183,800		3,852,631	0.1%
#	Iriso Electronics Co., Ltd.	115,600		6,520,096	0.2%
*	Ishii Hyoki Co., Ltd.	4,400		54,788	0.0%
#	Istyle, Inc.	287,100		1,974,736	0.1%
#*	ITbook Co., Ltd.	90,900		439,608	0.0%
	Itfor, Inc.	160,800		956,771	0.0%
#	ITmedia, Inc.	6,200		37,587	0.0%
#*	Itokuro, Inc.	22,800		1,060,670	0.0%
	Iwatsu Electric Co., Ltd.	63,700		472,730	0.0%
	Japan Aviation Electronics Industry, Ltd.	298,000		5,451,208	0.1%
#	Japan Cash Machine Co., Ltd.	99,000		1,072,024	0.0%
#*	Japan Display, Inc.	2,327,100		5,019,981	0.1%
#	Japan Material Co., Ltd.	130,500		3,788,819	0.1%
	Jastec Co., Ltd.	78,500		928,861	0.0%
#	JBCC Holdings, Inc.	94,500		874,910	0.0%
#*	JIG-SAW, Inc.	21,500		1,142,067	0.0%
	Justsystems Corp.	206,000		4,425,638	0.1%
	Kaga Electronics Co., Ltd.	113,900		3,412,687	0.1%
	Kanematsu Electronics, Ltd.	75,800		2,365,474	0.1%
*	KAYAC, Inc.	21,200		257,385	0.0%
	KEL Corp.	3,500		42,979	0.0%
#*	KLab, Inc.	217,000		3,814,322	0.1%
	Koa Corp.	195,900		4,087,529	0.1%
	Kozo Keikaku Engineering, Inc.	10,400		225,011	0.0%
#	Kyoden Co., Ltd.	97,900		402,541	0.0%
	Kyosan Electric Manufacturing Co., Ltd.	252,000		1,441,247	0.0%
	Kyowa Electronics Instruments Co., Ltd.	135,100		540,040	0.0%
#	LAC Co., Ltd.	101,400		1,255,324	0.0%
	Lasertec Corp.	255,200		5,614,841	0.2%
	LECIP HOLDINGS Corp.	3,800		31,659	0.0%
*	Livesense, Inc.	17,200		83,749	0.0%
#	m-up, Inc.	31,600		378,204	0.0%
	Macnica Fuji Electronics Holdings, Inc.	213,450		4,471,790	0.1%
	Mamezou Holdings Co., Ltd.	107,600		1,237,849	0.0%
	MarkLines Co., Ltd.	47,600		463,758	0.0%
	Marubun Corp.	101,500		882,691	0.0%
	Maruwa Co., Ltd.	60,000		3,472,070	0.1%
#	Marvelous, Inc.	196,300		1,857,089	0.1%
	Maxell Holdings, Ltd.	214,700		4,879,272	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
	MCJ Co., Ltd.	220,700	$	2,322,436	0.1%
#	Media Do Holdings Co., Ltd.	41,400		980,253	0.0%
#	Megachips Corp.	109,600		3,611,313	0.1%
#	Meiko Electronics Co., Ltd.	131,100		2,409,727	0.1%
	Melco Holdings, Inc.	71,700		2,250,718	0.1%
#	Micronics Japan Co., Ltd.	206,600		2,056,487	0.1%
#	Mimaki Engineering Co., Ltd.	108,700		903,214	0.0%
	Mimasu Semiconductor Industry Co., Ltd.	113,181		2,023,400	0.1%
	Miraial Co., Ltd.	43,300		598,210	0.0%
	Miroku Jyoho Service Co., Ltd.	115,700		2,702,023	0.1%
#	Mitsubishi Research Institute, Inc.	41,400		1,226,753	0.0%
#	Mitsui High-Tec, Inc.	157,900		3,333,541	0.1%
	Mobile Create Co., Ltd.	59,800		201,652	0.0%
#	Mobile Factory, Inc.	33,200		400,627	0.0%
#*	Morpho, Inc.	28,100		1,176,357	0.0%
#	MTI, Ltd.	199,300		1,198,650	0.0%
	Mutoh Holdings Co., Ltd.	14,600		333,621	0.0%
#*	Mynet, Inc.	23,600		366,224	0.0%
	Nagano Keiki Co., Ltd.	58,400		661,817	0.0%
	Naigai Tec Corp.	500		16,930	0.0%
	Nakayo, Inc.	78,000		1,340,473	0.0%
	NEC Networks & System Integration Corp.	139,500		3,476,389	0.1%
	NET One Systems Co., Ltd.	525,900		6,523,781	0.2%
#*	New Japan Radio Co., Ltd.	96,000		855,403	0.0%
#	Nexyz Group Corp.	48,000		975,325	0.0%
	Nichicon Corp.	311,900		3,935,281	0.1%
	Nihon Dempa Kogyo Co., Ltd.	106,600		832,422	0.0%
	Nihon Denkei Co., Ltd.	9,900		168,034	0.0%
	Nihon Unisys, Ltd.	449,675		7,448,545	0.2%
	Nippon Ceramic Co., Ltd.	62,200		1,774,321	0.1%
	Nippon Chemi-Con Corp.	103,700		3,603,415	0.1%
	Nippon Information Development Co., Ltd.	2,300		70,723	0.0%
#	Nippon Kodoshi Corp.	54,900		1,119,173	0.0%
	Nippon Signal Co., Ltd.	345,000		3,807,721	0.1%
	Nippon Systemware Co., Ltd.	45,500		899,476	0.0%
	Nissha Co., Ltd.	220,800		7,102,451	0.2%
	Nohmi Bosai, Ltd.	136,100		2,296,485	0.1%
#	Noritsu Koki Co., Ltd.	123,900		1,918,160	0.1%
	NS Solutions Corp.	171,100		4,159,333	0.1%
	NSD Co., Ltd.	222,680		4,457,614	0.1%
	Nuflare Technology, Inc.	29,300		1,517,352	0.1%
#	Ohara, Inc.	51,800		1,015,176	0.0%
*	Ohizumi Mfg. Co., Ltd.	19,400		226,647	0.0%
#	Okaya Electric Industries Co., Ltd.	73,000		334,526	0.0%
#	Oki Electric Industry Co., Ltd.	522,400		7,297,733	0.2%
	ONO Sokki Co., Ltd.	58,400		385,703	0.0%
	Optex Group Co., Ltd.	94,700		3,922,050	0.1%
#*	Optim Corp.	26,100		611,374	0.0%
	Osaki Electric Co., Ltd.	254,000		1,862,473	0.1%
	Paltek Corp.	35,800		283,314	0.0%
	PCA Corp.	2,500		38,899	0.0%
#	PCI Holdings, Inc.	19,500		582,343	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
	Poletowin Pitcrew Holdings, Inc.	88,800	$	1,422,505	0.0%
	Pro-Ship, Inc.	8,700		191,823	0.0%
#	Rakus Co., Ltd.	36,300		741,688	0.0%
	RECOMM Co., Ltd.	78,000		82,835	0.0%
	Renesas Easton Co., Ltd.	62,400		407,893	0.0%
	Riken Keiki Co., Ltd.	105,100		2,271,716	0.1%
	Riso Kagaku Corp.	171,600		3,289,015	0.1%
	Roland DG Corp.	82,600		2,285,343	0.1%
#	Rorze Corp.	64,800		1,715,845	0.1%
#	RS Technologies Co., Ltd.	22,500		833,531	0.0%
#*	RVH, Inc.	85,200		408,086	0.0%
	Ryoden Corp.	97,000		1,505,186	0.1%
	Ryosan Co., Ltd.	188,800		7,663,107	0.2%
	Ryoyo Electro Corp.	132,600		2,489,756	0.1%
	Saison Information Systems Co., Ltd.	3,500		61,661	0.0%
#	Sakura Internet, Inc.	127,100		975,607	0.0%
	Sanken Electric Co., Ltd.	779,000		4,898,444	0.1%
	Sanshin Electronics Co., Ltd.	151,900		2,307,082	0.1%
#	Satori Electric Co., Ltd.	85,880		800,851	0.0%
#	Saxa Holdings, Inc.	29,800		564,958	0.0%
#	Scala, Inc.	91,500		642,132	0.0%
#	Seikoh Giken Co., Ltd.	12,200		215,560	0.0%
	Shibaura Electronics Co., Ltd.	46,900		1,915,325	0.1%
	Shibaura Mechatronics Corp.	200,000		866,108	0.0%
#*	SHIFT, Inc.	39,600		764,955	0.0%
	Shindengen Electric Manufacturing Co., Ltd.	49,500		3,378,969	0.1%
#*	Shinkawa, Ltd.	97,400		748,154	0.0%
	Shinko Electric Industries Co., Ltd.	445,700		3,434,624	0.1%
	Shinko Shoji Co., Ltd.	135,600		2,515,984	0.1%
	Shizuki Electric Co., Inc.	103,500		660,842	0.0%
	Sigma Koki Co., Ltd.	14,800		236,306	0.0%
#	Siix Corp.	95,400		4,061,525	0.1%
	SK-Electronics Co., Ltd.	42,100		454,899	0.0%
	SMK Corp.	333,000		1,573,740	0.1%
	SMS Co., Ltd.	204,100		6,148,394	0.2%
#	Softbank Technology Corp.	70,300		1,313,294	0.0%
#	Softbrain Co., Ltd.	125,200		458,996	0.0%
	Softcreate Holdings Corp.	48,300		707,759	0.0%
#	Soliton Systems K.K.	52,900		577,362	0.0%
#	Sourcenext Corp.	86,300		543,470	0.0%
	SRA Holdings	65,900		1,878,204	0.1%
#	Sumida Corp.	147,449		2,573,360	0.1%
	Sun-Wa Technos Corp.	57,800		1,091,158	0.0%
	Suzuden Corp.	24,400		307,174	0.0%
	Suzuki Co., Ltd.	13,600		123,424	0.0%
#	Systemsoft Corp.	269,600		345,855	0.0%
	Systena Corp.	109,900		3,407,680	0.1%
#*	Tabuchi Electric Co., Ltd.	200,800		534,252	0.0%
	Tachibana Eletech Co., Ltd.	103,260		1,749,668	0.1%
	Taiyo Yuden Co., Ltd.	678,700		11,849,631	0.3%
	Takachiho Koheki Co., Ltd.	12,500		127,499	0.0%
	TAKEBISHI Corp.	26,700		374,432	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
	Tamura Corp.	486,000	$	3,325,141	0.1%
#	Tazmo Co., Ltd.	40,900		759,123	0.0%
	TDC Soft, Inc.	38,000		382,301	0.0%
#*	Teac Corp.	734,000		291,781	0.0%
	TechMatrix Corp.	99,500		1,493,713	0.0%
#	Tecnos Japan, Inc.	103,000		1,005,948	0.0%
	Teikoku Tsushin Kogyo Co., Ltd.	49,000		492,245	0.0%
	TESEC Corp.	2,300		40,565	0.0%
	TIS, Inc.	265,801		8,271,648	0.2%
	TKC Corp.	119,800		3,770,791	0.1%
	Toho System Science Co., Ltd.	1,500		10,815	0.0%
	Tokyo Electron Device, Ltd.	41,100		803,664	0.0%
	Tokyo Seimitsu Co., Ltd.	240,800		9,572,803	0.3%
#	Tomen Devices Corp.	4,600		130,453	0.0%
	Topcon Corp.	662,200		14,001,261	0.4%
	Torex Semiconductor, Ltd.	39,900		661,613	0.0%
	Toshiba TEC Corp.	822,000		4,794,030	0.1%
	Toukei Computer Co., Ltd.	22,710		691,028	0.0%
#	Towa Corp.	139,700		2,419,160	0.1%
	Toyo Corp.	146,400		1,367,648	0.0%
	Transcosmos, Inc.	186,300		4,344,691	0.1%
	Tri Chemical Laboratories, Inc.	36,600		1,292,441	0.0%
	UKC Holdings Corp.	86,600		1,490,562	0.0%
	UMC Electronics Co Ltd	27,900		592,742	0.0%
	Uniden Holdings Corp.	406,000		1,292,170	0.0%
	UNIRITA, Inc.	6,400		99,322	0.0%
#	UNITED, Inc.	78,700		2,512,126	0.1%
#	V Technology Co., Ltd.	28,700		5,022,429	0.1%
*	V-Cube, Inc.	85,300		495,370	0.0%
#	VeriServe Corp.	13,400		447,928	0.0%
#	Vitec Holdings Co., Ltd.	51,000		864,794	0.0%
#	Voyage Group, Inc.	56,400		720,042	0.0%
	Wellnet Corp.	109,900		1,181,066	0.0%
#	YAC Holdings Co., Ltd.	52,800		534,520	0.0%
#	Yamaichi Electronics Co., Ltd.	136,500		2,835,521	0.1%
	Yashima Denki Co., Ltd.	110,500		937,365	0.0%
#	Yokowo Co., Ltd.	92,000		1,201,131	0.0%
	Zappallas, Inc.	55,900		212,334	0.0%
*	ZIGExN Co., Ltd.	107,300		1,478,439	0.0%
	Zuken, Inc.	99,900		1,776,585	0.1%
Total Information Technology				585,523,761	14.7%
Materials — (10.1%)
	Achilles Corp.	101,900		2,055,849	0.1%
	ADEKA Corp.	544,000		9,396,399	0.2%
	Agro-Kanesho Co., Ltd.	68,400		1,363,896	0.0%
	Aichi Steel Corp.	73,200		2,968,238	0.1%
#	Alconix Corp.	136,000		2,387,456	0.1%
	Arakawa Chemical Industries, Ltd.	108,000		2,617,710	0.1%
	Araya Industrial Co., Ltd.	26,800		535,837	0.0%
#	Asahi Holdings, Inc.	182,350		3,958,171	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Asahi Printing Co., Ltd.	1,900	$	45,696	0.0%
	Asahi Yukizai Corp.	87,800		1,153,221	0.0%
	Asia Pile Holdings Corp.	131,100		742,008	0.0%
	C Uyemura & Co., Ltd.	27,200		1,686,132	0.1%
	Carlit Holdings Co., Ltd.	98,100		732,204	0.0%
	Chuetsu Pulp & Paper Co., Ltd.	55,200		1,064,974	0.0%
#*	Chugai Mining Co., Ltd.	1,012,400		293,705	0.0%
	Chugoku Marine Paints, Ltd.	390,400		3,316,993	0.1%
	CI Takiron Corp.	330,000		2,094,931	0.1%
	CK-San-Etsu Co., Ltd.	1,700		45,475	0.0%
	Dai Nippon Toryo Co., Ltd.	148,000		2,265,482	0.1%
	Daido Steel Co., Ltd.	131,300		8,319,117	0.2%
	Daiichi Kigenso Kagaku-Kogyo Co., Ltd.	117,700		1,708,942	0.1%
	Daiken Corp.	93,100		2,524,334	0.1%
	Daiki Aluminium Industry Co., Ltd.	183,000		1,503,776	0.0%
	Dainichiseika Color & Chemicals Manufacturing Co., Ltd.	83,200		3,809,956	0.1%
#	Daio Paper Corp.	425,100		5,103,652	0.1%
	Denka Co., Ltd.	7,000		233,873	0.0%
#	DKS Co., Ltd.	281,000		1,932,362	0.1%
	Dynapac Co., Ltd.	5,000		73,889	0.0%
	FP Corp.	132,600		6,968,242	0.2%
	Fuji Seal International, Inc.	267,700		8,785,506	0.2%
	Fujikura Kasei Co., Ltd.	155,400		980,245	0.0%
	Fujimi, Inc.	118,100		2,926,669	0.1%
	Fujimori Kogyo Co., Ltd.	99,000		3,424,486	0.1%
#	Fumakilla, Ltd.	50,501		900,277	0.0%
	Fuso Chemical Co., Ltd.	112,800		3,611,126	0.1%
	Geostr Corp.	77,000		603,464	0.0%
	Godo Steel, Ltd.	77,700		1,564,598	0.0%
	Gun-Ei Chemical Industry Co., Ltd.	28,600		993,948	0.0%
	Hakudo Co., Ltd.	24,700		492,358	0.0%
#	Haneda Zenith Holdings Co., Ltd.	218,200		799,237	0.0%
	Harima Chemicals Group, Inc.	88,600		708,081	0.0%
#	Hodogaya Chemical Co., Ltd.	39,500		2,776,466	0.1%
	Hokkan Holdings, Ltd.	275,000		1,057,824	0.0%
	Hokko Chemical Industry Co., Ltd.	120,900		741,441	0.0%
	Hokuetsu Kishu Paper Co., Ltd.	814,899		5,229,997	0.1%
	Honshu Chemical Industry Co., Ltd.	14,000		169,523	0.0%
	Ise Chemicals Corp.	74,000		392,432	0.0%
	Ishihara Chemical Co., Ltd.	4,700		82,096	0.0%
*	Ishihara Sangyo Kaisha, Ltd.	229,050		3,446,668	0.1%
	Ishizuka Glass Co., Ltd.	16,200		374,103	0.0%
	JCU Corp.	70,500		3,050,496	0.1%
	JSP Corp.	79,300		2,558,538	0.1%
#	Kanto Denka Kogyo Co., Ltd.	280,400		2,934,840	0.1%
	Katakura & Co-op Agri Corp.	15,200		184,230	0.0%
	Kawakin Holdings Co., Ltd.	11,000		38,777	0.0%
	KeePer Technical Laboratory Co., Ltd.	36,400		436,001	0.0%
	Kimoto Co., Ltd.	228,000		565,607	0.0%
	Koatsu Gas Kogyo Co., Ltd.	172,893		1,306,764	0.0%
#	Kogi Corp.	5,499		110,603	0.0%
	Kohsoku Corp.	60,200		701,273	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Konishi Co., Ltd.	193,600	$	3,368,936	0.1%
#	Konoshima Chemical Co., Ltd.	35,700		503,827	0.0%
	Krosaki Harima Corp.	31,700		1,360,370	0.0%
#	Kumiai Chemical Industry Co., Ltd.	507,887		3,453,060	0.1%
	Kureha Corp.	87,650		5,155,652	0.1%
	Kurimoto, Ltd.	63,300		1,329,844	0.0%
	Kuriyama Holdings Corp.	38,000		646,071	0.0%
#	Kyoei Steel, Ltd.	139,300		2,445,829	0.1%
#	Kyowa Leather Cloth Co., Ltd.	64,500		552,584	0.0%
	Lintec Corp.	286,700		7,967,920	0.2%
#	MEC Co., Ltd.	109,500		1,762,144	0.1%
	Mipox Corp.	5,800		41,529	0.0%
	Mitani Sekisan Co., Ltd.	47,700		1,155,108	0.0%
*	Mitsubishi Paper Mills, Ltd.	182,300		1,230,383	0.0%
	Mitsubishi Steel Manufacturing Co., Ltd.	91,000		2,265,833	0.1%
	Mitsui Mining & Smelting Co., Ltd.	9,800		509,945	0.0%
	Molitec Steel Co., Ltd.	34,300		196,126	0.0%
#	MORESCO Corp.	41,300		759,609	0.0%
	Mory Industries, Inc.	32,700		1,014,704	0.0%
	Nakayama Steel Works, Ltd.	120,600		833,983	0.0%
	Neturen Co., Ltd.	216,500		2,206,164	0.1%
#*	New Japan Chemical Co., Ltd.	182,300		482,446	0.0%
	Nicca Chemical Co., Ltd.	24,200		259,366	0.0%
	Nichia Steel Works, Ltd.	164,900		494,688	0.0%
#	Nihon Kagaku Sangyo Co., Ltd.	81,500		1,411,523	0.0%
	Nihon Nohyaku Co., Ltd.	306,300		1,773,647	0.1%
	Nihon Parkerizing Co., Ltd.	581,400		9,531,034	0.2%
	Nihon Yamamura Glass Co., Ltd.	546,000		959,928	0.0%
	Nippon Carbide Industries Co., Inc.	45,100		967,084	0.0%
	Nippon Chemical Industrial Co., Ltd.	47,700		1,094,878	0.0%
	Nippon Concrete Industries Co., Ltd.	278,300		1,177,201	0.0%
#	Nippon Denko Co., Ltd.	725,314		3,065,047	0.1%
	Nippon Fine Chemical Co., Ltd.	81,000		757,866	0.0%
	Nippon Kinzoku Co., Ltd.	29,300		812,646	0.0%
	Nippon Koshuha Steel Co., Ltd.	47,099		399,285	0.0%
	Nippon Light Metal Holdings Co., Ltd.	3,567,200		10,499,570	0.3%
	Nippon Paper Industries Co., Ltd.	304,000		6,047,887	0.2%
	Nippon Pillar Packing Co., Ltd.	137,100		2,100,638	0.1%
	Nippon Soda Co., Ltd.	754,000		4,717,270	0.1%
	Nippon Valqua Industries, Ltd.	102,599		2,380,234	0.1%
*	Nippon Yakin Kogyo Co., Ltd.	831,300		1,837,038	0.1%
	Nisshin Steel Co., Ltd.	286,592		4,165,109	0.1%
#	Nitta Gelatin, Inc.	79,300		566,159	0.0%
	Nittetsu Mining Co., Ltd.	35,400		2,625,175	0.1%
	Nitto FC Co., Ltd.	106,200		799,342	0.0%
	NOF Corp.	435,000		12,571,633	0.3%
	Nozawa Corp.	36,900		470,698	0.0%
	Okamoto Industries, Inc.	356,000		3,873,428	0.1%
	Okura Industrial Co., Ltd.	284,000		1,925,109	0.1%
#	Osaka Organic Chemical Industry, Ltd.	97,900		1,172,422	0.0%
#	Osaka Soda Co., Ltd.	84,799		2,226,269	0.1%
	Osaka Steel Co., Ltd.	83,300		1,843,093	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
#	OSAKA Titanium Technologies Co., Ltd.	63,500	$	975,884	0.0%
#*	Pacific Metals Co., Ltd.	102,099		3,052,921	0.1%
	Pack Corp. (The)	81,200		2,821,528	0.1%
#	Rasa Industries, Ltd.	48,000		967,052	0.0%
	Rengo Co., Ltd.	1,134,800		7,431,789	0.2%
	Riken Technos Corp.	227,000		1,398,203	0.0%
	Sakai Chemical Industry Co., Ltd.	114,000		2,850,885	0.1%
#	Sakata INX Corp.	252,400		4,867,568	0.1%
	Sanyo Chemical Industries, Ltd.	71,300		3,744,689	0.1%
	Sanyo Special Steel Co., Ltd.	130,060		3,338,211	0.1%
#	Seiko PMC Corp.	68,600		749,818	0.0%
	Sekisui Plastics Co., Ltd.	163,900		2,154,184	0.1%
	Shikoku Chemicals Corp.	243,000		4,044,199	0.1%
	Shin-Etsu Polymer Co., Ltd.	285,700		3,055,815	0.1%
	Shinagawa Refractories Co., Ltd.	39,000		1,319,298	0.0%
#	Shinko Wire Co., Ltd.	18,400		253,870	0.0%
	SK Kaken Co., Ltd.	7,000		582,280	0.0%
	Soken Chemical & Engineering Co., Ltd.	23,400		509,237	0.0%
#	Stella Chemifa Corp.	66,800		2,575,510	0.1%
	Sumitomo Bakelite Co., Ltd.	1,112,000		9,042,991	0.2%
	Sumitomo Osaka Cement Co., Ltd.	2,368,000		10,844,854	0.3%
	Sumitomo Seika Chemicals Co., Ltd.	63,200		3,357,623	0.1%
	Sun A Kaken Co., Ltd.	4,200		42,382	0.0%
	T Hasegawa Co., Ltd.	143,800		2,921,418	0.1%
#	T&K Toka Co., Ltd.	104,700		1,219,080	0.0%
	Taisei Lamick Co., Ltd.	35,900		979,960	0.0%
	Taiyo Holdings Co., Ltd.	104,900		5,040,678	0.1%
	Takasago International Corp.	92,200		3,207,319	0.1%
	Tayca Corp.	108,500		2,553,968	0.1%
	Tenma Corp.	103,300		2,147,008	0.1%
	Toagosei Co., Ltd.	658,000		8,533,757	0.2%
#	Toda Kogyo Corp.	25,300		1,052,245	0.0%
	Toho Acetylene Co., Ltd.	12,700		187,060	0.0%
#	Toho Titanium Co., Ltd.	215,600		1,942,586	0.1%
	Toho Zinc Co., Ltd.	83,599		4,071,687	0.1%
	Tohoku Steel Co., Ltd.	1,600		29,871	0.0%
	Tokai Carbon Co., Ltd.	1,289,000		12,880,783	0.3%
	Tokushu Tokai Paper Co., Ltd.	60,858		2,454,027	0.1%
#	Tokuyama Corp.	462,998		13,138,460	0.3%
	Tokyo Ohka Kogyo Co., Ltd.	227,700		8,326,993	0.2%
	Tokyo Printing Ink Manufacturing Co., Ltd.	1,300		41,859	0.0%
	Tokyo Rope Manufacturing Co., Ltd.	93,200		1,450,597	0.0%
	Tokyo Steel Manufacturing Co., Ltd.	845,800		7,305,223	0.2%
	Tokyo Tekko Co., Ltd.	50,200		949,668	0.0%
	Tomoegawa Co., Ltd.	131,000		367,754	0.0%
	Tomoku Co., Ltd.	72,000		1,343,507	0.0%
	Topy Industries, Ltd.	108,500		3,706,993	0.1%
	Toyo Gosei Co., Ltd.	5,200		64,435	0.0%
	Toyo Ink SC Holdings Co., Ltd.	1,157,000		6,813,814	0.2%
	Toyo Kohan Co., Ltd.	320,600		1,370,811	0.0%
	Toyobo Co., Ltd.	568,800		10,956,472	0.3%
#	TYK Corp.	138,000		497,698	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
#	UACJ Corp.	182,441	$	5,379,737	0.1%
#	W-Scope Corp.	148,900		2,800,694	0.1%
	Wood One Co., Ltd.	36,600		623,089	0.0%
	Yamato Kogyo Co., Ltd.	255,400		6,831,704	0.2%
	Yodogawa Steel Works, Ltd.	136,700		4,003,903	0.1%
	Yotai Refractories Co., Ltd.	52,100		214,424	0.0%
	Yuki Gosei Kogyo Co., Ltd.	36,200		97,732	0.0%
	Yushiro Chemical Industry Co., Ltd.	64,700		978,530	0.0%
Total Materials				441,083,863	11.1%
Real Estate — (2.0%)
#	AD Works Co., Ltd.	804,000		276,685	0.0%
	Airport Facilities Co., Ltd.	132,770		734,779	0.0%
	Anabuki Kosan, Inc.	2,200		58,629	0.0%
#	Aoyama Zaisan Networks Co., Ltd.	55,100		647,798	0.0%
#	Apamanshop Holdings Co., Ltd.	69,100		537,679	0.0%
#	Ardepro Co., Ltd.	923,500		841,536	0.0%
	Arealink Co., Ltd.	46,400		971,776	0.0%
#*	Ascot Corp.	67,700		188,797	0.0%
#	CRE, Inc.	22,800		307,967	0.0%
	Daibiru Corp.	303,600		3,579,419	0.1%
	Daikyo, Inc.	190,400		3,666,527	0.1%
#	Dear Life Co., Ltd.	101,000		404,229	0.0%
	Goldcrest Co., Ltd.	107,590		2,330,978	0.1%
	Grandy House Corp.	61,800		260,763	0.0%
	Heiwa Real Estate Co., Ltd.	236,600		4,127,136	0.1%
#	Ichigo, Inc.	1,467,900		5,220,260	0.1%
#	Investors Cloud Co., Ltd.	33,200		2,024,642	0.1%
#*	Japan Asset Marketing Co., Ltd.	1,649,800		1,782,450	0.1%
#	Japan Property Management Center Co., Ltd.	84,500		1,140,028	0.0%
	Kabuki-Za Co., Ltd.	31,300		1,541,297	0.1%
	Keihanshin Building Co., Ltd.	214,900		1,507,762	0.0%
	Kenedix, Inc.	1,399,200		8,180,553	0.2%
*	LAND Co., Ltd.	1,009,100		142,085	0.0%
	Leopalace21 Corp.	1,598,200		11,934,140	0.3%
#	Mugen Estate Co., Ltd.	73,300		759,802	0.0%
#	Nippon Commercial Development Co., Ltd.	62,600		923,380	0.0%
	Nisshin Fudosan Co.	189,700		1,335,006	0.0%
	Open House Co., Ltd.	198,900		7,667,028	0.2%
	Properst Co., Ltd.	26,600		50,073	0.0%
#	Prospect Co., Ltd.	1,202,000		563,392	0.0%
#	Raysum Co., Ltd.	107,100		950,721	0.0%
#	SAMTY Co., Ltd.	105,300		1,499,529	0.0%
	Sankyo Frontier Co., Ltd.	17,000		435,380	0.0%
#	Shinoken Group Co., Ltd.	81,500		2,002,284	0.1%
	Star Mica Co., Ltd.	75,800		1,079,823	0.0%
#*	Striders Corp.	15,300		71,010	0.0%
	Sun Frontier Fudousan Co., Ltd.	147,900		1,780,657	0.1%
#	Takara Leben Co., Ltd.	552,800		2,541,139	0.1%
	TOC Co., Ltd.	390,550		3,514,921	0.1%
	Tokyo Rakutenchi Co., Ltd.	20,700		1,064,564	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Real Estate — (Continued)
#	Tokyo Theatres Co., Inc.	46,799	$	601,912	0.0%
	Tosei Corp.	217,300		2,140,239	0.1%
	Unizo Holdings Co., Ltd.	151,800		4,038,446	0.1%
	Urbanet Corp. Co., Ltd.	108,800		327,375	0.0%
Total Real Estate				85,754,596	2.1%
Telecommunication Services — (0.1%)
#*	Broadmedia Corp.	456,300		435,151	0.0%
#	Freebit Co., Ltd.	79,500		647,981	0.0%
#	Okinawa Cellular Telephone Co.	48,900		1,695,634	0.1%
#*	U-Next Co., Ltd.	35,400		342,339	0.0%
#*	Vision, Inc.	38,100		910,312	0.0%
#	WirelessGate, Inc.	55,300		601,247	0.0%
Total Telecommunication Services				4,632,664	0.1%
Utilities — (0.9%)
#*	Eneres Co., Ltd.	160,000		744,496	0.0%
#	eRex Co., Ltd.	267,200		2,647,759	0.1%
	Hiroshima Gas Co., Ltd.	200,000		643,107	0.0%
*	Hokkaido Electric Power Co., Inc.	1,189,200		9,371,339	0.2%
	Hokkaido Gas Co., Ltd.	365,000		942,241	0.0%
#	Hokuriku Electric Power Co.	1,087,400		9,608,330	0.3%
	Hokuriku Gas Co., Ltd.	9,900		249,078	0.0%
	K&O Energy Group, Inc.	87,600		1,458,370	0.1%
	Kyoei Sangyo Co., Ltd.	600		12,825	0.0%
	Okinawa Electric Power Co., Inc. (The)	224,517		5,129,644	0.1%
	Saibu Gas Co., Ltd.	196,300		4,910,675	0.1%
	Shizuoka Gas Co., Ltd.	342,800		2,678,446	0.1%
	Toell Co., Ltd.	32,800		281,064	0.0%
#	West Holdings Corp.	96,800		635,767	0.0%
Total Utilities				39,313,141	1.0%
TOTAL COMMON STOCKS				3,955,538,472	99.2%
TOTAL INVESTMENT SECURITIES				3,955,538,472
			Value†
SECURITIES LENDING COLLATERAL — (9.2%)
§@	DFA Short Term Investment Fund	34,516,023		399,384,904	10.0%
TOTAL INVESTMENTS — (100.0%) (Cost $3,314,290,953)			$	4,354,923,376	109.2%

The Japanese Small Company Series
continued

Summary of the Series' investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in Securities (Market Value)
	Level 1	Level 2		Level 3	Total
Common Stocks
Consumer Discretionary	—	$	773,626,796	—	$	773,626,796
Consumer Staples	—		322,125,010	—		322,125,010
Energy	—		43,983,248	—		43,983,248
Financials	—		337,577,873	—		337,577,873
Health Care	—		177,769,835	—		177,769,835
Industrials	—		1,144,147,685	—		1,144,147,685
Information Technology	—		585,523,761	—		585,523,761
Materials	—		441,083,863	—		441,083,863
Real Estate	—		85,754,596	—		85,754,596
Telecommunication Services	—		4,632,664	—		4,632,664
Utilities	—		39,313,141	—		39,313,141
Securities Lending Collateral	—		399,384,904	—		399,384,904
TOTAL	—	$	4,354,923,376	—	$	4,354,923,376

THE ASIA PACIFIC SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

October 31, 2017

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (87.5%)
AUSTRALIA — (47.2%)
*	3P Learning, Ltd.	78,968	$	76,265	0.0%
#*	A.C.N. 004 410 833, Ltd.	17,951,296		269,807	0.0%
*	Acrux, Ltd.	345,328		43,564	0.0%
	Adacel Technologies, Ltd.	98,713		210,762	0.0%
	Adairs, Ltd.	68,831		80,696	0.0%
#	Adelaide Brighton, Ltd.	3,668,074		17,462,503	1.0%
#	Ainsworth Game Technology, Ltd.	963,562		1,681,775	0.1%
*	Alkane Resources, Ltd.	1,718,383		388,280	0.0%
	ALS, Ltd.	1,299,881		7,804,279	0.4%
	Altium, Ltd.	699,908		6,426,641	0.4%
*	Altona Mining, Ltd.	1,108,169		109,828	0.0%
	Alumina, Ltd.	125,660		225,499	0.0%
#	AMA Group, Ltd.	1,270,058		909,968	0.1%
#	Amaysim Australia, Ltd.	1,166,977		1,711,713	0.1%
	Ansell, Ltd.	830,803		15,292,658	0.8%
*	Antares Energy, Ltd.	199,346		279	0.0%
#	AP Eagers, Ltd.	278,944		1,604,291	0.1%
#	APN Outdoor Group, Ltd.	1,123,438		4,025,448	0.2%
	APN Property Group, Ltd.	26,661		8,955	0.0%
#	Appen, Ltd.	372,996		1,542,701	0.1%
#	ARB Corp., Ltd.	498,340		6,954,682	0.4%
#	Ardent Leisure Group	2,495,935		3,582,993	0.2%
	Asaleo Care, Ltd.	2,658,452		3,015,003	0.2%
#*	Atlas Iron, Ltd.	7,155,231		92,938	0.0%
	AUB Group, Ltd.	268,561		2,724,320	0.2%
#	Ausdrill, Ltd.	2,052,303		3,414,372	0.2%
	Austal, Ltd.	1,433,392		1,934,703	0.1%
#*	Australian Agricultural Co., Ltd.	2,990,515		3,368,875	0.2%
	Australian Finance Group, Ltd.	302,872		379,151	0.0%
#	Australian Pharmaceutical Industries, Ltd.	2,860,486		3,301,937	0.2%
	Australian Vintage, Ltd.	4,105,188		1,367,731	0.1%
	Auswide Bank, Ltd.	102,961		431,377	0.0%
#	Automotive Holdings Group, Ltd.	1,948,477		4,834,404	0.3%
*	Avanco Resources, Ltd.	2,444,368		183,308	0.0%
	Aveo Group	2,201,021		4,261,748	0.2%
	AVJennings, Ltd.	6,937,882		3,714,429	0.2%
#*	AWE, Ltd.	3,834,269		1,500,498	0.1%
#	Baby Bunting Group, Ltd.	239,891		295,371	0.0%
#	Bapcor, Ltd.	1,411,451		5,884,702	0.3%
*	Base Resources, Ltd.	215,873		55,533	0.0%
	Beach Energy, Ltd.	16,720,311		12,508,369	0.7%
#*	Beadell Resources, Ltd.	7,171,491		980,979	0.1%
#	Bega Cheese, Ltd.	1,039,089		5,854,140	0.3%
#*	Bellamy's Australia, Ltd.	475,294		4,380,196	0.2%
#*	Billabong International, Ltd.	756,968		369,891	0.0%
#	Blackmores, Ltd.	82,235		10,057,671	0.6%
	Blue Sky Alternative Investments, Ltd.	84,602		912,096	0.1%
*	Boart Longyear, Ltd.	1,682,421		14,194	0.0%
	Breville Group, Ltd.	825,559		7,372,929	0.4%
	Brickworks, Ltd.	252,400		2,745,145	0.2%
	BT Investment Management, Ltd.	1,061,631		8,782,885	0.5%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
*	Buru Energy, Ltd.	380,331	$	76,959	0.0%
#	BWX, Ltd.	105,056		583,514	0.0%
#	Cabcharge Australia, Ltd.	863,423		1,095,415	0.1%
#	Capilano Honey, Ltd.	15,266		196,492	0.0%
*	Capitol Health, Ltd.	2,117,373		446,080	0.0%
	Capral, Ltd.	58,499		6,251	0.0%
*	Cardno, Ltd.	1,627,697		1,655,628	0.1%
*	Carnarvon Petroleum, Ltd.	5,245,141		401,902	0.0%
*	Carnegie Clean Energy, Ltd.	1,015,131		27,980	0.0%
#	carsales.com, Ltd.	1,702,940		17,883,224	1.0%
#	Cash Converters International, Ltd.	2,406,480		662,648	0.0%
#*	Catapult Group International, Ltd.	113,654		165,268	0.0%
	Cedar Woods Properties, Ltd.	356,100		1,562,369	0.1%
#	Class, Ltd.	291,443		642,658	0.0%
*	Clean Seas Seafood, Ltd.	511,576		24,655	0.0%
	Cleanaway Waste Management, Ltd.	10,618,818		12,220,420	0.7%
*	Clinuvel Pharmaceuticals, Ltd.	30,557		163,486	0.0%
	Codan, Ltd.	504,292		926,204	0.1%
#	Collection House, Ltd.	2,107,238		2,258,015	0.1%
	Collins Foods, Ltd.	637,135		2,704,713	0.1%
#*	Cooper Energy, Ltd.	4,820,401		1,072,407	0.1%
#	Corporate Travel Management, Ltd.	276,172		5,087,221	0.3%
	Costa Group Holdings, Ltd.	1,165,472		5,545,546	0.3%
#	Credit Corp. Group, Ltd.	328,536		5,056,430	0.3%
#*	CSG, Ltd.	1,179,434		532,409	0.0%
	CSR, Ltd.	3,680,857		13,388,457	0.7%
*	CuDeco, Ltd.	387,893		99,634	0.0%
	Data#3, Ltd.	702,978		1,018,069	0.1%
	Decmil Group, Ltd.	941,409		916,603	0.1%
*	Devine, Ltd.	100,195		29,138	0.0%
	Dicker Data, Ltd.	121,457		244,984	0.0%
#	Domino's Pizza Enterprises, Ltd.	46,342		1,656,857	0.1%
	Donaco International, Ltd.	28,566		10,291	0.0%
	Downer EDI, Ltd.	3,622,856		19,439,855	1.1%
	DuluxGroup, Ltd.	3,101,823		17,518,012	1.0%
	DWS, Ltd.	474,349		526,912	0.0%
	Eclipx Group, Ltd.	1,231,762		3,824,165	0.2%
#*	Elders, Ltd.	800,183		3,104,413	0.2%
*	Electro Optic Systems Holdings, Ltd.	72,249		127,260	0.0%
#*	Emeco Holdings, Ltd.	1,193,646		219,254	0.0%
#*	Energy Resources of Australia, Ltd.	1,487,868		643,982	0.0%
#*	Energy World Corp., Ltd.	4,185,404		959,237	0.1%
	Enero Group, Ltd.	12,387		9,445	0.0%
	EQT Holdings, Ltd.	25,205		356,968	0.0%
	ERM Power, Ltd.	941,985		980,204	0.1%
	Estia Health, Ltd.	1,127,660		3,006,871	0.2%
	Euroz, Ltd.	101,762		91,036	0.0%
	Event Hospitality and Entertainment, Ltd.	513,190		5,250,412	0.3%
	Evolution Mining, Ltd.	4,129,607		7,418,423	0.4%
	Fairfax Media, Ltd.	15,303,894		12,891,987	0.7%
#*	FAR, Ltd.	6,332,846		319,984	0.0%
	Finbar Group, Ltd.	190,901		137,351	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
#	Fleetwood Corp., Ltd.	418,222	$	787,997	0.0%
#	FlexiGroup, Ltd.	1,539,900		1,731,973	0.1%
#	Flight Centre Travel Group, Ltd.	183,277		6,570,730	0.4%
#	G8 Education, Ltd.	2,577,771		9,004,963	0.5%
#*	Galaxy Resources, Ltd.	984,288		2,604,906	0.1%
#	Gateway Lifestyle	1,521,436		2,299,945	0.1%
#	GBST Holdings, Ltd.	175,546		258,638	0.0%
#	Genworth Mortgage Insurance Australia, Ltd.	1,726,790		3,758,243	0.2%
	Global Construction Services, Ltd.	110,434		73,248	0.0%
*	Gold Road Resources, Ltd.	461,184		242,918	0.0%
	GR Engineering Services, Ltd.	55,230		55,404	0.0%
	GrainCorp, Ltd. Class A	1,255,046		8,174,352	0.5%
#	Grange Resources, Ltd.	1,724,297		217,919	0.0%
#	Greencross, Ltd.	484,867		1,974,046	0.1%
*	Greenland Minerals & Energy, Ltd.	114,047		8,752	0.0%
#	GUD Holdings, Ltd.	918,124		8,397,253	0.5%
	GWA Group, Ltd.	2,071,266		4,043,939	0.2%
#	Hansen Technologies, Ltd.	775,129		2,012,819	0.1%
#	Healthscope, Ltd.	4,507,795		6,771,315	0.4%
	Helloworld, Ltd.	9,521		33,544	0.0%
	HFA Holdings, Ltd.	581,501		1,358,951	0.1%
*	Highfield Resources, Ltd.	121,654		97,700	0.0%
*	Hills, Ltd.	995,779		129,465	0.0%
*	Horizon Oil, Ltd.	4,073,887		211,936	0.0%
#	HT&E, Ltd.	2,174,438		2,896,151	0.2%
	IDP Education, Ltd.	94,984		407,727	0.0%
	Iluka Resources, Ltd.	1,852,267		13,347,308	0.7%
*	Imdex, Ltd.	1,804,309		1,339,917	0.1%
#	IMF Bentham, Ltd.	1,037,504		1,852,309	0.1%
#	Independence Group NL	2,549,217		7,832,904	0.4%
*	Infigen Energy	4,931,832		2,761,960	0.2%
	Infomedia, Ltd.	2,384,563		1,431,843	0.1%
	Integral Diagnostics, Ltd.	14,901		19,222	0.0%
#	Integrated Research, Ltd.	504,721		1,483,395	0.1%
	InvoCare, Ltd.	920,100		11,962,615	0.7%
#	IOOF Holdings, Ltd.	2,368,404		19,535,461	1.1%
#	IPH, Ltd.	349,312		1,566,486	0.1%
	IRESS, Ltd.	1,175,824		10,600,488	0.6%
	iSelect, Ltd.	742,596		908,125	0.1%
#	iSentia Group, Ltd.	958,893		727,427	0.0%
	IVE Group, Ltd.	226,839		354,474	0.0%
#	Japara Healthcare, Ltd.	1,441,627		2,231,423	0.1%
#	JB Hi-Fi, Ltd.	962,791		16,902,328	0.9%
	Jumbo Interactive, Ltd.	51,199		113,448	0.0%
*	Jupiter Mines, Ltd.	381,117		152,447	0.0%
	K&S Corp., Ltd.	268,400		363,002	0.0%
#*	Karoon Gas Australia, Ltd.	1,289,694		1,186,994	0.1%
#*	Kingsgate Consolidated, Ltd.	1,797,365		556,038	0.0%
*	Kingsrose Mining, Ltd.	937,248		13,486	0.0%
	Kogan.com, Ltd.	3,613		10,728	0.0%
	LifeHealthcare Group, Ltd.	8,683		17,625	0.0%
	Link Administration Holdings, Ltd.	1,477,619		9,330,538	0.5%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
	Lovisa Holdings, Ltd.	10,809	$	49,027	0.0%
*	Lynas Corp., Ltd.	1,159,291		160,172	0.0%
	MACA, Ltd.	829,671		1,329,167	0.1%
*	Macmahon Holdings, Ltd.	6,881,875		1,266,223	0.1%
	Macquarie Atlas Roads Group	1,217,664		5,561,032	0.3%
	Magellan Financial Group, Ltd.	380,216		7,070,014	0.4%
	Mantra Group, Ltd.	1,991,957		5,951,916	0.3%
	MaxiTRANS Industries, Ltd.	915,613		488,049	0.0%
#*	Mayne Pharma Group, Ltd.	6,571,574		3,451,400	0.2%
	McMillan Shakespeare, Ltd.	456,252		5,507,078	0.3%
#	McPherson's, Ltd.	630,986		627,241	0.0%
#*	Medusa Mining, Ltd.	1,263,898		380,945	0.0%
	Melbourne IT, Ltd.	584,356		1,382,554	0.1%
#*	Mesoblast, Ltd.	576,405		590,700	0.0%
#	Metals X, Ltd.	2,287,695		1,751,262	0.1%
#	Metcash, Ltd.	5,204,963		10,752,406	0.6%
#	Michael Hill International, Ltd.(BD8D249)	1,490,263		1,213,860	0.1%
	Michael Hill International, Ltd.(BD8D250)	94,305		76,549	0.0%
*	Millennium Minerals, Ltd.	868,823		102,531	0.0%
*	Mincor Resources NL	751,851		163,413	0.0%
	Mineral Resources, Ltd.	1,168,088		15,587,838	0.9%
*	Mitula Group, Ltd.	17,883		7,597	0.0%
#*	MMA Offshore, Ltd.	2,282,868		331,572	0.0%
	MNF Group, Ltd.	119,060		533,746	0.0%
#	Monadelphous Group, Ltd.	813,595		10,577,940	0.6%
#	Monash IVF Group, Ltd.	528,397		631,134	0.0%
	Money3 Corp., Ltd.	407,142		486,819	0.0%
*	Morning Star Gold NL	332,749		25	0.0%
#	Mortgage Choice, Ltd.	803,791		1,359,208	0.1%
	Motorcycle Holdings, Ltd.	4,107		15,297	0.0%
#	Mount Gibson Iron, Ltd.	4,879,718		1,420,580	0.1%
#	Myer Holdings, Ltd.	5,669,367		3,321,625	0.2%
#	MYOB Group, Ltd.	1,597,818		4,598,420	0.3%
	MyState, Ltd.	408,387		1,493,642	0.1%
#	Navitas, Ltd.	1,606,445		5,875,287	0.3%
#*	Neometals, Ltd.	464,508		153,178	0.0%
#*	NetComm Wireless, Ltd.	125,209		113,109	0.0%
	New Hope Corp., Ltd.	251,555		385,025	0.0%
#*	NEXTDC, Ltd.	403,993		1,598,017	0.1%
	nib holdings, Ltd.	2,841,283		13,723,457	0.8%
#	Nick Scali, Ltd.	215,853		1,098,944	0.1%
#	Nine Entertainment Co. Holdings, Ltd.	2,644,166		3,038,106	0.2%
	Northern Star Resources, Ltd.	4,806,957		19,116,115	1.1%
*	NRW Holdings, Ltd.	2,540,504		2,500,411	0.1%
	Nufarm, Ltd.(B672BY1)	312,838		2,174,029	0.1%
	Nufarm, Ltd.(6335331)	1,407,770		9,406,021	0.5%
#	OFX Group, Ltd.	1,289,371		1,378,037	0.1%
*	Onevue Holdings, Ltd.	64,846		33,822	0.0%
#	oOh!media, Ltd.	325,817		1,093,040	0.1%
#*	Orocobre, Ltd.	892,424		3,321,069	0.2%
	Orora, Ltd.	5,866,371		15,297,175	0.8%
	OZ Minerals, Ltd.	2,198,276		13,574,508	0.7%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
#	Pacific Current Group, Ltd.	121,179	$	651,574	0.0%
	Pacific Smiles Group, Ltd.	256,946		370,102	0.0%
#	Pact Group Holdings, Ltd.	759,434		3,371,240	0.2%
#*	Paladin Energy, Ltd.	9,564,569		174,075	0.0%
*	Panoramic Resources, Ltd.	1,865,498		570,658	0.0%
	Paragon Care, Ltd.	199,199		128,013	0.0%
	Peet, Ltd.	1,798,944		2,011,093	0.1%
#*	Peninsula Energy, Ltd.	209,095		46,388	0.0%
	Pepper Group, Ltd.	10,294		28,926	0.0%
#	Perpetual, Ltd.	356,426		13,246,567	0.7%
#*	Perseus Mining, Ltd.	6,331,491		1,540,966	0.1%
	Pioneer Credit, Ltd.	109,223		250,663	0.0%
#	Platinum Asset Management, Ltd.	1,007,083		5,628,556	0.3%
	PMP, Ltd.	2,346,052		1,348,739	0.1%
*	Praemium, Ltd.	248,982		112,462	0.0%
#	Premier Investments, Ltd.	594,567		6,033,609	0.3%
*	Prima Biomed, Ltd.	1,409,121		30,173	0.0%
	Primary Health Care, Ltd.	3,326,526		8,718,897	0.5%
	Prime Media Group, Ltd.	2,115,465		600,113	0.0%
	Pro Medicus, Ltd.	108,976		558,932	0.0%
	PWR Holdings, Ltd.	15,029		30,544	0.0%
	QMS Media, Ltd.	258,213		190,767	0.0%
#	Qube Holdings, Ltd.	3,831,201		7,549,175	0.4%
#	Quintis, Ltd.	2,130,129		383,424	0.0%
#*	Ramelius Resources, Ltd.	3,502,863		1,040,742	0.1%
#	RCG Corp., Ltd.	619,672		356,035	0.0%
	RCR Tomlinson, Ltd.	1,214,629		4,001,978	0.2%
	Reckon, Ltd.	421,295		401,661	0.0%
#	Reece, Ltd.	228,297		7,745,193	0.4%
#	Regis Healthcare, Ltd.	1,023,995		2,858,006	0.2%
	Regis Resources, Ltd.	2,767,079		8,220,011	0.5%
#	Reject Shop, Ltd. (The)	277,760		991,272	0.1%
#	Reliance Worldwide Corp., Ltd.	180,807		517,106	0.0%
	Resolute Mining, Ltd.	7,575,156		5,940,922	0.3%
#	Retail Food Group, Ltd.	1,339,855		4,514,717	0.2%
	Ridley Corp., Ltd.	1,575,908		1,750,770	0.1%
*	RPMGlobal Holdings, Ltd.	52,065		30,918	0.0%
	Ruralco Holdings, Ltd.	161,312		355,462	0.0%
	RXP Services, Ltd.	380,836		230,538	0.0%
*	Salmat, Ltd.	645,788		221,888	0.0%
	Sandfire Resources NL	1,095,289		4,822,622	0.3%
*	Saracen Mineral Holdings, Ltd.	7,203,079		7,982,401	0.4%
#	SeaLink Travel Group, Ltd.	154,981		509,915	0.0%
#	Select Harvests, Ltd.	627,737		2,257,945	0.1%
*	Senetas Corp., Ltd.	131,335		9,969	0.0%
#*	Senex Energy, Ltd.	6,674,885		1,768,115	0.1%
#	Servcorp, Ltd.	342,797		1,461,480	0.1%
	Service Stream, Ltd.	1,930,150		2,070,166	0.1%
	Seven Group Holdings, Ltd.	625,509		6,364,795	0.4%
	Seven West Media, Ltd.	7,785,820		4,030,751	0.2%
	SG Fleet Group, Ltd.	314,157		983,247	0.1%
	Shine Corporate, Ltd.	15,573		7,816	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
	Shriro Holdings, Ltd.	86,363	$	94,350	0.0%
	Sigma Healthcare, Ltd.	8,320,487		4,811,361	0.3%
#*	Silex Systems, Ltd.	511,695		117,288	0.0%
#	Silver Chef, Ltd.	138,918		772,790	0.0%
#*	Silver Lake Resources, Ltd.	4,060,760		1,129,206	0.1%
	Sims Metal Management, Ltd.	1,382,214		14,015,094	0.8%
*	Sino Gas & Energy Holdings, Ltd.	1,191,804		87,354	0.0%
#	Sirtex Medical, Ltd.	507,644		5,316,336	0.3%
	SmartGroup Corp., Ltd.	277,322		2,065,697	0.1%
	Southern Cross Media Group, Ltd.	3,965,374		3,407,320	0.2%
	Spark Infrastructure Group	9,691,872		18,867,222	1.0%
*	Specialty Fashion Group, Ltd.	506,125		79,189	0.0%
#	SpeedCast International, Ltd.	1,278,844		4,078,286	0.2%
	SRG, Ltd.	2,002		2,218	0.0%
	St Barbara, Ltd.	3,947,491		8,727,622	0.5%
	Steadfast Group, Ltd.	3,999,283		8,220,928	0.5%
*	Strike Energy, Ltd.	1,789,423		88,872	0.0%
#*	Sundance Energy Australia, Ltd.	5,832,497		245,689	0.0%
	Sunland Group, Ltd.	740,896		970,428	0.1%
#	Super Retail Group, Ltd.	1,288,021		7,668,003	0.4%
#	Superloop, Ltd.	72,683		139,703	0.0%
#*	Syrah Resources, Ltd.	1,254,672		3,246,121	0.2%
	Tabcorp Holdings, Ltd.	4,718,586		16,235,426	0.9%
	Tassal Group, Ltd.	1,388,014		4,477,553	0.2%
	Technology One, Ltd.	1,772,760		6,847,958	0.4%
#	Thorn Group, Ltd.	709,409		434,585	0.0%
*	Tiger Resources, Ltd.	9,447,997		283,442	0.0%
#	Tox Free Solutions, Ltd.	1,278,532		2,400,616	0.1%
	Treasury Wine Estates, Ltd.	39,348		472,331	0.0%
	Tribune Resources, Ltd.	3,093		16,114	0.0%
#*	Troy Resources, Ltd.	2,230,415		167,291	0.0%
	Villa World, Ltd.	705,707		1,405,794	0.1%
#	Village Roadshow, Ltd.	836,651		2,402,673	0.1%
#*	Virgin Australia Holdings, Ltd.	11,885,050		1,688,049	0.1%
#	Virtus Health, Ltd.	468,258		1,966,839	0.1%
#	Vita Group, Ltd.	340,637		337,481	0.0%
#	Vocus Group, Ltd.	4,330,071		9,564,561	0.5%
*	Watpac, Ltd.	760,701		413,769	0.0%
	Webjet, Ltd.	799,191		7,049,995	0.4%
	Webster, Ltd.	23,507		23,735	0.0%
#	Western Areas, Ltd.	2,274,784		4,853,067	0.3%
#*	Westgold Resources, Ltd.	1,434,949		2,050,805	0.1%
#*	Whitehaven Coal, Ltd.	4,143,411		11,842,782	0.7%
*	WorleyParsons, Ltd.	1,194,746		12,850,207	0.7%
	WPP AUNZ, Ltd.	2,476,651		1,743,694	0.1%
	Xenith IP Group, Ltd.	9,607		9,352	0.0%
*	Yowie Group, Ltd.	40,157		6,156	0.0%
TOTAL AUSTRALIA				971,904,786	53.5%
CHINA — (0.1%)
	BEP International Holdings, Ltd.	8,730,000		204,105	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
CHINA — (Continued)
#*	Lisi Group Holdings, Ltd.	5,804,000	$	833,482	0.1%
TOTAL CHINA				1,037,587	0.1%
HONG KONG — (24.1%)
#*	13 Holdings, Ltd. (The)	142,500		16,622	0.0%
	Aeon Credit Service Asia Co., Ltd.	650,000		510,815	0.0%
	Aeon Stores Hong Kong Co., Ltd.	248,000		179,387	0.0%
	Agritrade Resources, Ltd.	2,880,000		745,516	0.1%
	Alco Holdings, Ltd.	1,614,000		377,061	0.0%
	Allan International Holdings	32,000		9,032	0.0%
	Allied Group, Ltd.	661,200		4,063,668	0.2%
	Allied Properties HK, Ltd.	11,911,857		2,536,906	0.2%
	Alltronics Holdings, Ltd.	1,874,600		650,968	0.0%
*	Anxian Yuan China Holdings, Ltd.	2,680,000		42,626	0.0%
#*	APAC Resources, Ltd.	3,174,735		455,778	0.0%
#*	Applied Development Holdings, Ltd.	8,360,000		579,118	0.0%
	APT Satellite Holdings, Ltd.	3,008,500		1,439,342	0.1%
	Arts Optical International Hldgs, Ltd.	730,000		243,676	0.0%
	Asia Financial Holdings, Ltd.	2,404,908		1,434,572	0.1%
*	Asia Investment Finance Group, Ltd.	5,674,000		69,095	0.0%
	Asia Satellite Telecommunications Holdings, Ltd.	934,500		862,853	0.1%
	Asia Standard Hotel Group, Ltd.	34,101,654		2,187,504	0.1%
#	Asia Standard International Group, Ltd.	13,270,917		3,555,044	0.2%
	Associated International Hotels, Ltd.	952,000		3,123,031	0.2%
*	Auto Italia Holdings	1,900,000		38,008	0.0%
*	Beautiful China Holdings Co., Ltd.	1,240,000		11,922	0.0%
*	Beijing Gas Blue Sky Holdings, Ltd.	3,872,000		263,118	0.0%
	BeijingWest Industries International, Ltd.	1,277,600		237,574	0.0%
*	Bisu Technology Group International, Ltd.	16,000		10,290	0.0%
	BOE Varitronix, Ltd.	2,769,293		2,027,630	0.1%
#*	Bonjour Holdings, Ltd.	13,988,600		547,168	0.0%
	Bossini International Holdings, Ltd.	3,699,500		220,592	0.0%
#	Bright Smart Securities & Commodities Group, Ltd.	5,020,000		1,590,901	0.1%
*	Brightoil Petroleum Holdings, Ltd.	10,052,000		1,932,730	0.1%
#*	Brockman Mining, Ltd.	22,810,814		300,984	0.0%
*	Burwill Holdings, Ltd.	31,596,960		1,398,878	0.1%
	Cafe de Coral Holdings, Ltd.	2,422,000		7,452,550	0.4%
*	Cash Financial Services Group, Ltd.	2,934,000		94,071	0.0%
*	CCT Land Holdings, Ltd.	18,640,000		23,867	0.0%
	Century City International Holdings, Ltd.	6,575,460		624,336	0.0%
	CGN Mining Co., Ltd.	3,050,000		222,786	0.0%
*	Champion Technology Holdings, Ltd.	864,254		112,998	0.0%
	Chen Hsong Holdings	1,212,000		362,591	0.0%
	Cheuk Nang Holdings, Ltd.	659,127		425,103	0.0%
	Chevalier International Holdings, Ltd.	820,989		1,356,885	0.1%
*	China Baofeng International, Ltd.	22,000		11,197	0.0%
*	China Best Group Holding, Ltd.	6,700,000		97,971	0.0%
*	China Chuanglian Education Financial Group, Ltd.	4,664,000		90,596	0.0%
	China Display Optoelectronics Technology Holdings, Ltd.	4,288,000		627,432	0.0%
*	China Energy Development Holdings, Ltd.	52,140,000		620,528	0.0%
*	China Ever Grand Financial Leasing Group Co., Ltd.	810,000		6,866	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	China Flavors & Fragrances Co., Ltd.	1,561,028	$	415,967	0.0%
*	China Fortune Financial Group, Ltd.	6,570,000		173,437	0.0%
*	China Healthcare Enterprise Group, Ltd.	5,384,000		268,891	0.0%
*	China HKBridge Holdings, Ltd.	38,000		10,868	0.0%
#*	China LNG Group, Ltd.	7,534,001		1,255,957	0.1%
*	China Ludao Technology Co., Ltd.	580,000		121,261	0.0%
*	China Medical & Healthcare Group, Ltd.	42,916,800		1,571,931	0.1%
	China Motor Bus Co., Ltd.	60,600		785,728	0.1%
*	China Shandong Hi-Speed Financial Group, Ltd.	1,302,000		70,173	0.0%
*	China Soft Power Technology Holdings, Ltd.	1,198,402		21,077	0.0%
*	China Solar Energy Holdings, Ltd.	1,669,500		7,222	0.0%
*	China Star Entertainment, Ltd.	1,850,000		149,477	0.0%
#*	China Strategic Holdings, Ltd.	65,506,250		974,911	0.1%
	China Ting Group Holdings, Ltd.	2,565,151		133,281	0.0%
#	Chinese Estates Holdings, Ltd.	1,368,500		2,329,967	0.1%
*	Chinlink International Holdings, Ltd.	1,379,800		196,593	0.0%
	Chinney Investments, Ltd.	1,180,000		578,777	0.0%
	Chong Hing Bank, Ltd.	107,000		219,247	0.0%
	Chow Sang Sang Holdings International, Ltd.	2,384,000		5,199,308	0.3%
	CHTC Fong's Industries Co., Ltd.	42,000		11,477	0.0%
	Chuang's China Investments, Ltd.	8,251,407		677,298	0.1%
	Chuang's Consortium International, Ltd.	7,163,043		1,673,033	0.1%
	CITIC Telecom International Holdings, Ltd.	12,249,125		3,502,926	0.2%
	CK Life Sciences Intl Holdings, Inc.	22,972,000		1,766,056	0.1%
#	CMBC Capital Holdings, Ltd.	12,270,000		1,071,842	0.1%
*	CMMB Vision Holdings, Ltd.	8,056,000		387,549	0.0%
	CNQC International Holdings, Ltd.	2,772,500		1,009,681	0.1%
	CNT Group, Ltd.	8,303,264		383,102	0.0%
#*	Common Splendor International Health Industry Group, Ltd.	9,024,000		833,227	0.1%
*	Continental Holdings, Ltd.	450,000		6,566	0.0%
#	Convenience Retail Asia, Ltd.	142,000		65,510	0.0%
#*	Convoy Global Holdings, Ltd.	41,370,000		1,003,048	0.1%
*	Cosmopolitan International Holdings, Ltd.	4,000,000		487,084	0.0%
#	Cowell e Holdings, Inc.	1,616,000		794,858	0.1%
*	CP Lotus Corp.	11,880,000		224,540	0.0%
*	Crocodile Garments	2,085,000		237,985	0.0%
#	Cross-Harbour Holdings, Ltd. (The)	932,956		1,492,738	0.1%
	CSI Properties, Ltd.	39,356,383		2,044,964	0.1%
*	CST Group, Ltd.	133,296,000		838,469	0.1%
#	CW Group Holdings, Ltd.	2,644,500		478,389	0.0%
	Dah Sing Banking Group, Ltd.	3,888,716		8,606,102	0.5%
	Dah Sing Financial Holdings, Ltd.	1,483,344		9,968,172	0.6%
	Dickson Concepts International, Ltd.	1,282,500		499,997	0.0%
	Dynamic Holdings, Ltd.	52,000		51,615	0.0%
	Eagle Nice International Holdings, Ltd.	1,802,000		889,901	0.1%
	EcoGreen International Group, Ltd.	1,634,640		331,085	0.0%
*	Elegance Optical International Holdings, Ltd.	382,000		132,266	0.0%
	Emperor Capital Group, Ltd.	30,381,000		2,613,045	0.2%
	Emperor Entertainment Hotel, Ltd.	4,665,000		1,130,240	0.1%
	Emperor International Holdings, Ltd.	9,116,753		3,226,368	0.2%
	Emperor Watch & Jewellery, Ltd.	26,450,000		1,324,866	0.1%
#	Enerchina Holdings, Ltd.	19,213,500		392,205	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
*	ENM Holdings, Ltd.	14,680,000	$	912,885	0.1%
#*	Esprit Holdings, Ltd.	14,828,050		8,972,221	0.5%
*	eSun Holdings, Ltd.	4,444,000		803,805	0.1%
*	Eternity Investment, Ltd.	830,000		24,367	0.0%
#	Fairwood Holdings, Ltd.	698,100		2,792,279	0.2%
	Far East Consortium International, Ltd.	9,749,463		5,325,337	0.3%
*	Far East Holdings International, Ltd.	720,000		81,342	0.0%
#	FIH Mobile, Ltd.	16,311,000		5,121,914	0.3%
	First Pacific Co., Ltd.	6,020,000		4,586,999	0.3%
*	First Shanghai Investments, Ltd.	5,576,000		758,795	0.1%
	Fountain SET Holdings, Ltd.	5,842,000		876,248	0.1%
	Four Seas Mercantile Holdings, Ltd.	610,000		278,350	0.0%
*	Freeman FinTech Corp., Ltd.	14,840,000		866,164	0.1%
	Fulum Group Holdings, Ltd.	76,000		9,743	0.0%
	Future Bright Holdings, Ltd.	3,288,000		303,620	0.0%
*	Future World Financial Holdings, Ltd.	205,723		4,168	0.0%
*	G-Resources Group, Ltd.	172,599,600		2,278,946	0.1%
#*	GCL New Energy Holdings, Ltd.	28,214,000		2,062,565	0.1%
#	Get Nice Financial Group, Ltd.	2,090,600		603,372	0.0%
#	Get Nice Holdings, Ltd.	41,752,000		1,794,698	0.1%
	Giordano International, Ltd.	11,414,000		6,453,083	0.4%
*	Global Brands Group Holding, Ltd.	33,378,000		3,894,612	0.2%
	Glorious Sun Enterprises, Ltd.	4,328,000		499,760	0.0%
	Gold Peak Industries Holdings, Ltd.	3,029,642		320,342	0.0%
	Golden Resources Development International, Ltd.	3,330,500		211,424	0.0%
#*	Good Resources Holdings, Ltd.	9,720,000		511,043	0.0%
	Goodbaby International Holdings, Ltd.	752,000		410,825	0.0%
*	Grande Holdings, Ltd. (The)	882,000		195,576	0.0%
	Great Eagle Holdings, Ltd.	601,566		3,311,961	0.2%
*	Greenheart Group, Ltd.	320,000		38,576	0.0%
	Guangnan Holdings, Ltd.	2,363,600		300,035	0.0%
#	Guotai Junan International Holdings, Ltd.	23,547,797		7,528,359	0.4%
#	Haitong International Securities Group, Ltd.	13,383,259		7,590,734	0.4%
	Hanison Construction Holdings, Ltd.	2,103,649		391,258	0.0%
*	Hao Tian Development Group, Ltd.	19,412,400		672,556	0.1%
	Harbour Centre Development, Ltd.	935,500		1,772,754	0.1%
	Henry Group Holdings, Ltd.	466,000		122,047	0.0%
	High Fashion International, Ltd.	268,000		72,101	0.0%
	HKBN, Ltd.	3,255,500		3,305,540	0.2%
#	HKR International, Ltd.	5,975,936		3,813,824	0.2%
*	Hoifu Energy Group, Ltd.	482,000		54,334	0.0%
	Hon Kwok Land Investment Co., Ltd.	388,800		257,617	0.0%
	Hong Kong Aircraft Engineering Co., Ltd.	128,800		869,147	0.1%
	Hong Kong Ferry Holdings Co., Ltd.	866,300		996,655	0.1%
	Hong Kong International Construction Investment Management Group Co., Ltd.	624,000		233,704	0.0%
	Hong Kong Shanghai Alliance Holdings, Ltd.	1,248,002		139,301	0.0%
*	Hong Kong Television Network, Ltd.	3,023,751		1,085,971	0.1%
#	Hongkong & Shanghai Hotels, Ltd. (The)	2,205,345		3,581,962	0.2%
	Hongkong Chinese, Ltd.	5,038,000		897,453	0.1%
	Hop Hing Group Holdings, Ltd.	12,312,000		367,774	0.0%
	Hopewell Holdings, Ltd.	3,366,000		12,946,497	0.7%
#*	Hsin Chong Group Holdings, Ltd.	13,109,658		220,640	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
*	Huarong International Financial Holdings, Ltd.	357,000	$	119,944	0.0%
#*	Huarong Investment Stock Corp., Ltd.	490,000		65,443	0.0%
*	Huisheng International Holdings, Ltd.	3,008,000		152,458	0.0%
	Hung Hing Printing Group, Ltd.	2,728,000		541,669	0.0%
	Hutchison Telecommunications Hong Kong Holdings, Ltd.	11,696,000		4,199,245	0.2%
*	I-CABLE Communications, Ltd.	9,006,000		282,099	0.0%
#	IGG, Inc.	7,041,000		9,453,202	0.5%
*	Imagi International Holdings, Ltd.	2,142,300		200,511	0.0%
	International Housewares Retail Co., Ltd.	347,000		65,430	0.0%
*	International Standard Resources Holdings, Ltd.	12,991,625		78,317	0.0%
*	iOne Holdings, Ltd.	10,780,000		273,282	0.0%
	IPE Group, Ltd.	3,345,000		839,929	0.1%
#*	IRC, Ltd.	9,736,266		318,658	0.0%
	IT, Ltd.	4,344,532		2,250,802	0.1%
	ITC Properties Group, Ltd.	5,724,097		2,129,344	0.1%
*	Jinhui Holdings Co., Ltd.	90,000		13,932	0.0%
	Johnson Electric Holdings, Ltd.	2,358,750		9,516,625	0.5%
	Kader Holdings Co., Ltd.	92,000		12,142	0.0%
	Kam Hing International Holdings, Ltd.	1,830,000		154,885	0.0%
*	Kantone Holdings, Ltd.	901,364		36,962	0.0%
	Karrie International Holdings, Ltd.	2,028,000		296,512	0.0%
	Keck Seng Investments	878,600		741,420	0.1%
	Kerry Logistics Network, Ltd.	2,406,000		3,317,378	0.2%
	Kingmaker Footwear Holdings, Ltd.	1,914,955		613,896	0.0%
*	Kong Sun Holdings, Ltd.	6,900,000		326,713	0.0%
	Kowloon Development Co., Ltd.	2,523,000		2,878,291	0.2%
*	Kwan On Holdings, Ltd.	2,340,000		411,469	0.0%
	Kwoon Chung Bus Holdings, Ltd.	44,000		25,726	0.0%
	L'Occitane International SA	799,000		1,518,133	0.1%
*	L'sea Resources International Holdings, Ltd.	5,480,000		89,994	0.0%
	Lai Sun Development Co., Ltd.	1,823,866		3,297,873	0.2%
	Lai Sun Garment International, Ltd.	669,431		1,308,750	0.1%
	Lam Soon Hong Kong, Ltd.	302,310		418,472	0.0%
#*	Landing International Development, Ltd.	252,380,000		6,993,812	0.4%
	Landsea Green Properties Co., Ltd.	1,256,000		135,263	0.0%
*	LEAP Holdings Group, Ltd.	5,160,000		101,360	0.0%
	Lifestyle International Holdings, Ltd.	2,133,500		2,925,552	0.2%
	Lippo China Resources, Ltd.	20,922,000		671,331	0.0%
	Lippo, Ltd.	1,161,700		706,253	0.1%
	Liu Chong Hing Investment, Ltd.	1,299,200		2,232,873	0.1%
	Luk Fook Holdings International, Ltd.	3,243,000		13,718,512	0.8%
	Luks Group Vietnam Holdings Co., Ltd.	514,913		172,198	0.0%
	Lung Kee Bermuda Holdings	1,609,875		767,776	0.1%
#*	Macau Legend Development, Ltd.	17,568,000		2,817,915	0.2%
	Magnificent Hotel Investment, Ltd.	13,170,000		397,203	0.0%
*	Man Sang International, Ltd.	132,000		7,915	0.0%
	Man Wah Holdings, Ltd.	11,957,600		10,803,091	0.6%
#*	Mason Group Holdings, Ltd.	49,353,399		835,783	0.1%
#*	Master Glory Group, Ltd.(BYTP1T9)	43,830,592		545,273	0.0%
#*	Master Glory Group, Ltd.(BYTP1T9)	394,860		4,910	0.0%
	Matrix Holdings, Ltd.	1,067,414		458,763	0.0%
*	Maxnerva Technology Services, Ltd.	578,000		150,481	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	Melbourne Enterprises, Ltd.	39,500	$	935,973	0.1%
	Melco International Development, Ltd.	2,601,000		7,128,476	0.4%
	Microport Scientific Corp.	357,000		352,331	0.0%
	Midas International Holdings, Ltd.	3,440,000		167,349	0.0%
*	Midland Holdings, Ltd.	5,182,000		1,401,585	0.1%
*	Midland IC&I, Ltd.	2,591,000		132,773	0.0%
	Ming Fai International Holdings, Ltd.	2,148,000		333,253	0.0%
	Miramar Hotel & Investment	922,000		1,990,635	0.1%
	Modern Dental Group, Ltd.	288,000		80,862	0.0%
*	Mongolian Mining Corp.	11,678,000		359,164	0.0%
	NagaCorp, Ltd.	11,248,000		9,087,661	0.5%
	Nameson Holdings, Ltd.	718,000		210,892	0.0%
	Nanyang Holdings, Ltd.	133,500		777,301	0.1%
	National Electronic Hldgs	2,668,600		380,175	0.0%
*	National United Resources Holdings, Ltd.	18,280,000		62,328	0.0%
*	Neo-Neon Holdings, Ltd.	2,337,500		254,894	0.0%
*	New Century Group Hong Kong, Ltd.	13,351,464		233,258	0.0%
*	NEW Concepts Holdings, Ltd.	848,000		576,136	0.0%
*	New Sports Group, Ltd.	9,980,000		55,045	0.0%
*	New Times Energy Corp., Ltd.	8,918,600		308,578	0.0%
*	Newocean Energy Holdings, Ltd.	7,972,000		2,034,513	0.1%
*	Next Digital, Ltd.	4,295,183		264,412	0.0%
*	Nine Express, Ltd.	12,438,000		446,725	0.0%
*	OCI International Holdings, Ltd.	56,000		8,039	0.0%
	On Time Logistics Holdings, Ltd.	784,000		414,123	0.0%
#	OP Financial Investments, Ltd.	748,000		217,620	0.0%
	Orange Sky Golden Harvest Entertainment Holdings, Ltd.	9,214,706		626,313	0.0%
	Orient Overseas International, Ltd.	1,483,500		14,287,148	0.8%
#	Oriental Watch Holdings	3,070,800		660,790	0.0%
*	Pacific Andes International Holdings, Ltd.	19,435,067		68,260	0.0%
*	Pacific Basin Shipping, Ltd.	29,537,000		6,744,741	0.4%
*	Pacific Edge, Ltd.	442,720		102,994	0.0%
*	Pacific Plywood Holdings, Ltd.	2,200,000		132,652	0.0%
#	Pacific Textiles Holdings, Ltd.	6,707,000		7,058,866	0.4%
	Pak Fah Yeow International, Ltd.	5,000		2,151	0.0%
	Paliburg Holdings, Ltd.	3,152,830		1,362,577	0.1%
#*	Paradise Entertainment, Ltd.	3,652,000		393,214	0.0%
*	Pearl Oriental Oil, Ltd.	11,849,400		402,742	0.0%
*	Pegasus Entertainment Holdings, Ltd.	664,000		27,659	0.0%
	Pegasus International Holdings, Ltd.	226,000		30,269	0.0%
	Perfect Shape Beauty Technology, Ltd.	1,172,000		155,500	0.0%
#	Pico Far East Holdings, Ltd.	5,578,000		2,360,082	0.1%
	Playmates Holdings, Ltd.	6,920,000		922,641	0.1%
	Playmates Toys, Ltd.	6,208,000		979,225	0.1%
	Plover Bay Technologies, Ltd.	240,000		48,725	0.0%
#	Pokfulam Development Co.	234,000		578,364	0.0%
	Polytec Asset Holdings, Ltd.	11,323,526		957,973	0.1%
*	PT International Development Co., Ltd.	2,839,150		192,800	0.0%
	Public Financial Holdings, Ltd.	3,102,000		1,400,324	0.1%
	PuraPharm Corp., Ltd.	137,000		59,747	0.0%
*	PYI Corp., Ltd.	24,147,973		536,137	0.0%
*	Qianhai Health Holdings, Ltd.	157,499		2,283	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	Raymond Industrial, Ltd.	30,400	$	4,347	0.0%
#*	Realord Group Holdings, Ltd.	364,000		237,048	0.0%
#	Regal Hotels International Holdings, Ltd.	2,837,800		2,016,016	0.1%
*	Regent Pacific Group, Ltd.	3,820,000		193,540	0.0%
#	Regina Miracle International Holdings, Ltd.	1,401,000		1,345,312	0.1%
#*	Rentian Technology Holdings, Ltd.	11,250,000		540,851	0.0%
#*	Runway Global Holdings Co., Ltd.	588,000		87,461	0.0%
#	SA SA International Holdings, Ltd.	11,456,708		4,157,532	0.2%
	Safety Godown Co., Ltd.	400,000		953,909	0.1%
	SAS Dragon Holdings, Ltd.	2,120,000		693,304	0.1%
#	SEA Holdings, Ltd.	1,543,523		1,606,414	0.1%
#	Shenyin Wanguo HK, Ltd.	4,201,250		1,525,684	0.1%
*	Shougang Concord Grand Group, Ltd.	1,158,000		36,216	0.0%
	Shun Ho Property Investments, Ltd.	1,254,757		469,464	0.0%
	Shun Tak Holdings, Ltd.	13,739,419		5,921,953	0.3%
*	Silver base Group Holdings, Ltd.	3,641,515		382,797	0.0%
#*	Sincere Watch Hong Kong, Ltd.	4,450,000		93,003	0.0%
	Sing Tao News Corp., Ltd.	1,974,000		265,697	0.0%
	Singamas Container Holdings, Ltd.	11,450,000		2,378,820	0.1%
	SIS International Holdings	34,000		21,806	0.0%
	SITC International Holdings Co., Ltd.	2,029,000		1,957,100	0.1%
#	Sitoy Group Holdings, Ltd.	1,463,000		337,674	0.0%
	Sky Light Holdings, Ltd.	569,000		138,643	0.0%
#	SmarTone Telecommunications Holdings, Ltd.	3,758,531		4,679,616	0.3%
*	SOCAM Development, Ltd.	1,744,771		411,934	0.0%
*	Solartech International Holdings, Ltd.	11,520,000		1,077,503	0.1%
*	Solomon Systech International, Ltd.	10,100,000		510,902	0.0%
	Soundwill Holdings, Ltd.	596,500		1,290,979	0.1%
*	South China Assets Holdings, Ltd.	1,679,170		10,347	0.0%
*	South China Financial Holdings, Ltd.	21,850,000		137,350	0.0%
*	South China Holdings Co., Ltd.	17,774,503		649,573	0.0%
	Stella International Holdings, Ltd.	1,788,000		2,912,897	0.2%
*	Stelux Holdings International, Ltd.	3,011,400		235,637	0.0%
	Strong Petrochemical Holdings, Ltd.	1,928,000		391,432	0.0%
*	Success Universe Group, Ltd.	6,716,000		186,836	0.0%
#*	Summit Ascent Holdings, Ltd.	3,400,000		466,478	0.0%
	Sun Hing Vision Group Holdings, Ltd.	358,000		145,412	0.0%
	Sun Hung Kai & Co., Ltd.	4,713,429		3,021,461	0.2%
*	Suncorp Technologies, Ltd.	1,970,000		10,131	0.0%
	Sunwah Kingsway Capital Holdings, Ltd.	7,690,000		114,361	0.0%
	TAI Cheung Holdings, Ltd.	2,114,000		2,440,220	0.1%
	Tai Sang Land Development, Ltd.	781,910		543,805	0.0%
*	Talent Property Group, Ltd.	14,355,000		176,767	0.0%
#	Tan Chong International, Ltd.	1,176,000		404,050	0.0%
	Tao Heung Holdings, Ltd.	1,166,000		215,286	0.0%
	Television Broadcasts, Ltd.	2,183,300		8,257,027	0.5%
*	Termbray Industries International Holdings, Ltd.	2,304,900		159,916	0.0%
	Tern Properties Co., Ltd.	51,200		32,987	0.0%
#	Texwinca Holdings, Ltd.	6,860,000		4,142,382	0.2%
#	Tian Teck Land, Ltd.	1,024,000		1,221,328	0.1%
	TK Group Holdings, Ltd.	326,000		160,915	0.0%
*	Tom Group, Ltd.	858,000		216,774	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
#	Town Health International Medical Group, Ltd.	5,758,000	$	553,234	0.0%
#	Tradelink Electronic Commerce, Ltd.	5,670,000		1,002,685	0.1%
	Transport International Holdings, Ltd.	1,306,141		4,169,998	0.2%
*	Trinity, Ltd.	8,046,000		671,442	0.0%
*	TSC Group Holdings, Ltd.	3,386,000		343,417	0.0%
#	Tsui Wah Holdings, Ltd.	2,006,000		303,624	0.0%
	Union Medical Healthcare, Ltd.	92,000		43,109	0.0%
#*	United Laboratories International Holdings, Ltd. (The)	5,624,000		4,896,378	0.3%
*	Universal Technologies Holdings, Ltd.	7,410,000		244,505	0.0%
*	Universe International Financial Holdings, Ltd.	125,000		12,823	0.0%
*	Up Energy Development Group, Ltd.	3,929,000		12,188	0.0%
	Upbest Group, Ltd.	72,000		10,872	0.0%
*	Value Convergence Holdings, Ltd.	3,168,000		585,363	0.0%
#	Value Partners Group, Ltd.	1,828,000		1,813,586	0.1%
	Vanke Property Overseas, Ltd.	49,000		29,868	0.0%
	Vantage International Holdings, Ltd.	3,160,000		413,049	0.0%
	Vedan International Holdings, Ltd.	3,576,000		357,567	0.0%
*	Victory City International Holdings, Ltd.	24,979,660		650,129	0.0%
	Vitasoy International Holdings, Ltd.	5,557,000		12,849,073	0.7%
*	VS International Group, Ltd.	1,022,000		48,551	0.0%
#	VSTECS Holdings, Ltd.	5,153,600		2,390,870	0.1%
	VTech Holdings, Ltd.	820,400		11,663,361	0.7%
	Wai Kee Holdings, Ltd.	7,614,738		3,553,549	0.2%
	Wang On Group, Ltd.	5,160,000		66,174	0.0%
	Win Hanverky Holdings, Ltd.	2,734,000		357,684	0.0%
*	Winfull Group Holdings, Ltd.	9,512,000		220,572	0.0%
	Wing On Co. International, Ltd.	759,000		2,686,803	0.2%
	Wing Tai Properties, Ltd.	1,993,331		1,380,818	0.1%
	Wonderful Sky Financial Group Holdings, Ltd.	898,000		219,951	0.0%
	Wong's International Holdings, Ltd.	737,641		296,472	0.0%
	Wong's Kong King International	322,000		49,549	0.0%
	Xinyi Glass Holdings, Ltd.	13,352,000		12,938,386	0.7%
	Yangtzekiang Garment, Ltd.	606,500		225,946	0.0%
#*	Yat Sing Holdings, Ltd.	190,000		60,016	0.0%
	Yau Lee Holdings, Ltd.	424,000		77,974	0.0%
#	Yeebo International Holdings, Ltd.	2,750,000		1,466,405	0.1%
	YGM Trading, Ltd.	447,000		446,978	0.0%
*	YT Realty Group, Ltd.	749,000		232,570	0.0%
	Yugang International, Ltd.	90,818,000		2,351,263	0.1%
TOTAL HONG KONG				495,947,493	27.3%
NEW ZEALAND — (6.0%)
*	a2 Milk Co., Ltd.	1,860,803		11,047,609	0.6%
	Abano Healthcare Group, Ltd.	30,725		204,942	0.0%
	Air New Zealand, Ltd.	2,616,238		5,910,451	0.3%
#	Arvida Group, Ltd.	158,917		129,456	0.0%
	Briscoe Group, Ltd.	2,235		4,956	0.0%
#	CBL Corp., Ltd.	41,896		84,316	0.0%
	Chorus, Ltd.	2,299,669		6,319,770	0.4%
	Colonial Motor Co., Ltd. (The)	144,588		754,691	0.0%
	Comvita, Ltd.	9,464		55,102	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
NEW ZEALAND — (Continued)
	Contact Energy, Ltd.	1,081,342	$	4,255,865	0.2%
	EBOS Group, Ltd.	451,590		5,439,399	0.3%
	Evolve Education Group, Ltd.	36,611		18,783	0.0%
#	Freightways, Ltd.	960,640		5,034,593	0.3%
	Genesis Energy, Ltd.	1,195,135		2,003,461	0.1%
	Gentrack Group, Ltd.	26,188		98,561	0.0%
	Hallenstein Glasson Holdings, Ltd.	242,445		554,201	0.0%
	Heartland Bank, Ltd.	1,124,916		1,462,481	0.1%
	Infratil, Ltd.	3,258,507		7,169,626	0.4%
	Investore Property, Ltd.	22,938		21,055	0.0%
	Kathmandu Holdings, Ltd.	702,915		1,155,350	0.1%
#	Mainfreight, Ltd.	536,356		8,978,181	0.5%
	Methven, Ltd.	96,877		66,262	0.0%
#	Metlifecare, Ltd.	593,206		2,346,947	0.1%
#	Metro Performance Glass, Ltd.	28,996		19,642	0.0%
	Millennium & Copthorne Hotels New Zealand, Ltd.	395,725		760,645	0.1%
*	New Zealand Oil & Gas, Ltd.	829,896		411,792	0.0%
	New Zealand Refining Co., Ltd. (The)	600,495		1,035,674	0.1%
	NZME, Ltd.(BD5W4X2)	945,851		594,315	0.0%
	NZME, Ltd.(BD310N3)	16,366		10,197	0.0%
	NZX, Ltd.	952,265		769,712	0.1%
	Opus International Consultants, Ltd.	12,925		15,508	0.0%
*	Orion Health Group, Ltd.	4,001		2,874	0.0%
	PGG Wrightson, Ltd.	999,976		383,338	0.0%
#	Port of Tauranga, Ltd.	2,555,333		8,000,206	0.4%
*	Pushpay Holdings, Ltd.	21,325		42,143	0.0%
	Restaurant Brands New Zealand, Ltd.	586,805		2,724,262	0.2%
*	Rubicon, Ltd.	1,442,620		187,988	0.0%
	Ryman Healthcare, Ltd.	771,254		4,909,923	0.3%
	Sanford, Ltd.	382,357		2,065,969	0.1%
	Scales Corp., Ltd.	108,188		288,754	0.0%
	Scott Technology, Ltd.	45,734		111,238	0.0%
	Skellerup Holdings, Ltd.	573,961		703,553	0.0%
	SKY Network Television, Ltd.	2,080,268		3,560,445	0.2%
	SKYCITY Entertainment Group, Ltd.	5,461,701		14,539,711	0.8%
#	Steel & Tube Holdings, Ltd.	441,625		604,559	0.0%
	Summerset Group Holdings, Ltd.	810,855		2,702,543	0.2%
#*	Synlait Milk, Ltd.	33,400		187,701	0.0%
#	Tegel Group Holdings, Ltd.	103,983		98,870	0.0%
	Tilt Renewables, Ltd.	87,581		116,873	0.0%
	Tourism Holdings, Ltd.	376,639		1,308,985	0.1%
#*	Tower, Ltd.	887,040		491,922	0.0%
	Trade Me Group, Ltd.	1,783,440		5,507,596	0.3%
	Trilogy International, Ltd.	7,994		12,853	0.0%
	Trustpower, Ltd.	140,358		558,881	0.0%
	Turners Automotive Group, Ltd.	13,182		27,967	0.0%
	Vector, Ltd.	1,276,962		2,944,049	0.2%
	Vista Group International, Ltd.	6,705		23,775	0.0%
	Warehouse Group, Ltd. (The)	698,604		1,009,102	0.1%
*	Xero, Ltd.	124,576		2,934,082	0.2%
TOTAL NEW ZEALAND				122,783,705	6.8%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SINGAPORE — (10.1%)
*	Abterra, Ltd.	302,120	$	20,513	0.0%
	Accordia Golf Trust	3,150,500		1,733,632	0.1%
	AEM Holdings, Ltd.	62,200		143,069	0.0%
	Amara Holdings, Ltd.	974,800		407,777	0.0%
	Ascendas India Trust	1,702,900		1,436,304	0.1%
*	ASL Marine Holdings, Ltd.	148,950		12,868	0.0%
	Baker Technology, Ltd.	289,580		142,273	0.0%
*	Banyan Tree Holdings, Ltd.	901,200		406,866	0.0%
#	Best World International, Ltd.	1,922,850		2,097,740	0.1%
	Bonvests Holdings, Ltd.	950,000		996,699	0.1%
	Boustead Projects, Ltd.	497,612		317,272	0.0%
	Boustead Singapore, Ltd.	1,827,636		1,208,346	0.1%
#	Breadtalk Group, Ltd.	894,200		1,033,402	0.1%
	Broadway Industrial Group, Ltd.	31,429		2,866	0.0%
#	Bukit Sembawang Estates, Ltd.	742,403		3,458,743	0.2%
	Bund Center Investment, Ltd.	659,825		372,843	0.0%
	Centurion Corp., Ltd.	825,900		339,728	0.0%
#	China Aviation Oil Singapore Corp., Ltd.	2,277,799		2,959,199	0.2%
	China Sunsine Chemical Holdings, Ltd.	483,700		356,670	0.0%
	Chip Eng Seng Corp., Ltd.	3,399,700		2,394,864	0.1%
	Chuan Hup Holdings, Ltd.	3,853,500		989,112	0.1%
#	CITIC Envirotech, Ltd.	709,400		401,180	0.0%
	Civmec, Ltd.	162,700		67,369	0.0%
	Cogent Holdings, Ltd.	48,100		34,070	0.0%
	ComfortDelGro Corp., Ltd.	648,400		961,225	0.1%
#*	COSCO Shipping International Singapore Co., Ltd.	6,510,500		1,386,501	0.1%
*	Creative Technology, Ltd.	272,200		231,396	0.0%
#	CSE Global, Ltd.	3,443,600		948,280	0.1%
#	CWT, Ltd.	1,799,000		3,072,234	0.2%
#	Del Monte Pacific, Ltd.	2,363,364		537,705	0.0%
	Delfi, Ltd.	788,500		856,231	0.1%
*	DMX Technologies Group, Ltd.	2,096,000		30,261	0.0%
	Duty Free International, Ltd.	191,300		38,623	0.0%
*	Dyna-Mac Holdings, Ltd.	2,007,300		202,077	0.0%
	Elec & Eltek International Co., Ltd.	154,800		241,510	0.0%
	EnGro Corp., Ltd.	354,000		245,485	0.0%
#*	Ezion Holdings, Ltd.	12,591,378		1,819,750	0.1%
#*	Ezra Holdings, Ltd.	19,242,923		779,345	0.0%
*	Falcon Energy Group, Ltd.	465,700		21,175	0.0%
	Far East Orchard, Ltd.	1,096,185		1,245,733	0.1%
#	First Resources, Ltd.	4,909,700		7,097,371	0.4%
*	First Ship Lease Trust	160,900		9,811	0.0%
	First Sponsor Group, Ltd.	440,661		441,108	0.0%
#	Food Empire Holdings, Ltd.	1,418,200		671,416	0.0%
#	Fragrance Group, Ltd.	6,077,000		757,777	0.0%
	Frasers Centrepoint, Ltd.	336,900		513,990	0.0%
	Frencken Group, Ltd.	223,800		98,569	0.0%
	Fu Yu Corp., Ltd.	1,622,200		238,333	0.0%
#*	Gallant Venture, Ltd.	4,992,500		498,203	0.0%
#	Geo Energy Resources, Ltd.	2,425,500		534,138	0.0%
	GK Goh Holdings, Ltd.	1,484,065		1,078,483	0.1%
	GL, Ltd.	3,401,300		2,310,099	0.1%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SINGAPORE — (Continued)
	Golden Agri-Resources, Ltd.	22,363,500	$	6,481,658	0.4%
#	Golden Energy & Resources, Ltd.	382,200		131,728	0.0%
	GP Batteries International, Ltd.	235,000		220,767	0.0%
#	GP Industries, Ltd.	2,567,609		1,337,724	0.1%
#	GuocoLand, Ltd.	1,065,214		1,869,662	0.1%
#*	Halcyon Agri Corp., Ltd.	1,695,148		739,660	0.0%
	Hanwell Holdings, Ltd.	1,888,219		449,721	0.0%
#	Haw Par Corp., Ltd.	78,500		702,548	0.0%
#	Health Management International, Ltd.	1,405,730		650,016	0.0%
	Hi-P International, Ltd.	1,159,400		1,591,382	0.1%
	Hiap Hoe, Ltd.	498,000		319,581	0.0%
	Ho Bee Investment, Ltd.	1,604,700		2,979,508	0.2%
	Hong Fok Corp., Ltd.	3,531,394		2,306,303	0.1%
	Hong Leong Asia, Ltd.	716,300		643,636	0.0%
	Hong Leong Finance, Ltd.	238,500		477,972	0.0%
	Hotel Grand Central, Ltd.	1,531,768		1,663,103	0.1%
	Hour Glass, Ltd. (The)	1,814,832		906,634	0.1%
	Hutchison Port Holdings Trust	3,377,900		1,452,514	0.1%
	Hwa Hong Corp., Ltd.	2,123,500		528,783	0.0%
	Hyflux, Ltd.	3,262,300		1,172,786	0.1%
	iFAST Corp., Ltd.	27,200		19,368	0.0%
#	Indofood Agri Resources, Ltd.	3,432,100		1,131,677	0.1%
	InnoTek, Ltd.	408,900		92,972	0.0%
*	IPC Corp., Ltd.	108,270		39,133	0.0%
	Isetan Singapore, Ltd.	119,000		350,265	0.0%
#	Japfa, Ltd.	2,179,700		944,696	0.1%
#	k1 Ventures, Ltd.	1,005,220		541,764	0.0%
	Keppel Infrastructure Trust	8,949,932		3,643,721	0.2%
#	Keppel Telecommunications & Transportation, Ltd.	1,369,300		1,516,803	0.1%
	Koh Brothers Group, Ltd.	1,432,000		383,315	0.0%
#*	KrisEnergy, Ltd.	1,052,200		82,057	0.0%
#	KSH Holdings, Ltd.	547,200		373,540	0.0%
	Lian Beng Group, Ltd.	2,253,500		1,339,998	0.1%
	Low Keng Huat Singapore, Ltd.	912,900		465,610	0.0%
	Lum Chang Holdings, Ltd.	1,094,030		332,968	0.0%
#	M1, Ltd.	2,631,500		3,475,043	0.2%
#	Mandarin Oriental International, Ltd.	643,900		1,415,632	0.1%
#*	Mermaid Maritime PCL	274,000		29,583	0.0%
#	Metro Holdings, Ltd.	2,738,692		2,521,425	0.1%
	Mewah International, Inc.	89,000		19,878	0.0%
*	Midas Holdings, Ltd.	8,558,700		1,319,858	0.1%
*	Nam Cheong, Ltd.	6,557,040		96,208	0.0%
	Nera Telecommunications, Ltd.	1,143,400		310,776	0.0%
	New Toyo International Holdings, Ltd.	1,624,000		315,987	0.0%
#*	Noble Group, Ltd.	7,456,280		1,565,819	0.1%
	NSL, Ltd.	409,900		416,636	0.0%
	Olam International, Ltd.	170,000		293,154	0.0%
	OUE, Ltd.	1,988,000		3,004,125	0.2%
	Overseas Education, Ltd.	65,300		17,949	0.0%
#	Oxley Holdings, Ltd.	2,240,300		1,191,205	0.1%
#*	Pacc Offshore Services Holdings, Ltd.	600,500		147,778	0.0%
	Pan-United Corp., Ltd.	2,435,750		1,036,485	0.1%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SINGAPORE — (Continued)
*	Penguin International, Ltd.	446,032	$	106,516	0.0%
	Perennial Real Estate Holdings, Ltd.	117,100		76,037	0.0%
#	Q&M Dental Group Singapore, Ltd.	2,243,100		1,094,251	0.1%
	QAF, Ltd.	1,414,056		1,281,486	0.1%
#*	Raffles Education Corp., Ltd.	4,176,710		1,025,054	0.1%
#	Raffles Medical Group, Ltd.	4,578,378		3,794,814	0.2%
	RHT Health Trust	3,131,500		1,930,664	0.1%
	Riverstone Holdings, Ltd.	1,182,600		915,184	0.1%
	Rotary Engineering, Ltd.	1,499,400		494,439	0.0%
#*	Rowsley, Ltd.	3,028,500		288,917	0.0%
	Roxy-Pacific Holdings, Ltd.	297,500		124,066	0.0%
	San Teh, Ltd.	151,787		24,562	0.0%
	SATS, Ltd.	391,700		1,351,122	0.1%
	SBS Transit, Ltd.	926,200		1,699,775	0.1%
	SembCorp Industries, Ltd.	2,096,500		5,077,617	0.3%
#	SembCorp Marine, Ltd.	3,715,700		5,268,171	0.3%
#	Sheng Siong Group, Ltd.	4,185,700		2,901,819	0.2%
#	SHS Holdings, Ltd.	2,304,100		371,937	0.0%
	SIA Engineering Co., Ltd.	231,200		552,972	0.0%
#	SIIC Environment Holdings, Ltd.	4,602,820		1,790,065	0.1%
#	Sinarmas Land, Ltd.	6,897,100		2,149,223	0.1%
	Sing Holdings, Ltd.	1,561,700		555,344	0.0%
	Sing Investments & Finance, Ltd.	324,075		380,511	0.0%
#	Singapore Post, Ltd.	10,457,500		9,858,175	0.6%
#	Singapore Press Holdings, Ltd.	1,133,800		2,245,257	0.1%
	Singapore Reinsurance Corp., Ltd.	1,514,530		344,239	0.0%
	Singapore Shipping Corp., Ltd.	1,640,700		342,951	0.0%
	Singapura Finance, Ltd.	348,124		264,450	0.0%
#*	Sino Grandness Food Industry Group, Ltd.	4,336,435		668,907	0.0%
	Stamford Land Corp., Ltd.	3,188,100		1,204,195	0.1%
#	StarHub, Ltd.	1,785,500		3,446,063	0.2%
	Straco Corp., Ltd.	130,000		81,538	0.0%
	Sunningdale Tech, Ltd.	865,360		1,466,369	0.1%
*	SunVic Chemical Holdings, Ltd.	1,137,845		54,350	0.0%
#*	Swiber Holdings, Ltd.	2,895,250		43,330	0.0%
*	Tat Hong Holdings, Ltd.	2,662,560		908,007	0.1%
	Tiong Woon Corp. Holding, Ltd.	228,100		47,750	0.0%
	Tuan Sing Holdings, Ltd.	4,252,495		1,293,659	0.1%
#	UMS Holdings, Ltd.	2,769,875		2,143,734	0.1%
	United Engineers, Ltd.	3,318,328		6,428,430	0.4%
#	United Industrial Corp., Ltd.	174,269		420,985	0.0%
	United Overseas Insurance, Ltd.	181,850		814,216	0.1%
	UOB-Kay Hian Holdings, Ltd.	2,008,761		1,996,451	0.1%
	UOL Group, Ltd.	297,417		1,972,369	0.1%
#	UPP Holdings, Ltd.	3,076,900		587,564	0.0%
	Valuetronics Holdings, Ltd.	1,828,750		1,388,981	0.1%
	Venture Corp., Ltd.	1,597,200		22,831,474	1.3%
	Vibrant Group, Ltd.	2,058,620		590,770	0.0%
	Vicom, Ltd.	119,500		504,936	0.0%
	Wee Hur Holdings, Ltd.	2,769,000		579,985	0.0%
	Wheelock Properties Singapore, Ltd.	1,933,000		2,836,701	0.2%
	Wing Tai Holdings, Ltd.	3,453,267		6,079,604	0.3%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SINGAPORE — (Continued)
	Yeo Hiap Seng, Ltd.	223,731	$	207,000	0.0%
	YHI International, Ltd.	176,200		54,219	0.0%
#*	Yongnam Holdings, Ltd.	2,875,300		717,188	0.0%
	Zhongmin Baihui Retail Group, Ltd.	26,900		18,935	0.0%
TOTAL SINGAPORE				208,958,676	11.5%
UNITED KINGDOM — (0.0%)
*	GetBusy P.L.C.	133,833		73,767	0.0%
TOTAL COMMON STOCKS				1,800,706,014	99.2%
RIGHTS/WARRANTS — (0.0%)
AUSTRALIA — (0.0%)
*	BWX , Ltd. Rights 11/07/17	10,298		—	0.0%
*	Clean Seas Seafood, Ltd. Rights 11/10/17	24,944		38	0.0%
*	Nufarm, Ltd. Rights 11/15/17	312,838		407,031	0.0%
*	Westgold Resources, Ltd. Rights 06/30/19	98,649		24,538	0.0%
TOTAL AUSTRALIA				431,607	0.0%
HONG KONG — (0.0%)
*	China HKBridge Holdings, Ltd. Rights 11/20/17	19,000		73	0.0%
*	International Standard Resources Holdings, Ltd. Warrants 05/10/18	3,097,050		3,970	0.0%
TOTAL HONG KONG				4,043	0.0%
NEW ZEALAND — (0.0%)
*	Pacific Edge, Ltd. Rights 11/08/17	73,786		1,010	0.0%
TOTAL RIGHTS/WARRANTS				436,660	0.0%
TOTAL INVESTMENT SECURITIES				1,801,142,674
			Value†
SECURITIES LENDING COLLATERAL — (12.5%)
§@	DFA Short Term Investment Fund	22,292,852		257,950,593	14.2%
TOTAL INVESTMENTS — (100.0%) (Cost $1,978,371,714)			$	2,059,093,267	113.4%

The Asia Pacific Small Company Series
continued

Summary of the Series' investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3	Total
Common Stocks
Australia		—	$	971,904,786	—	$	971,904,786
China		—		1,037,587	—		1,037,587
Hong Kong	$	573,686		495,373,807	—		495,947,493
New Zealand		—		122,783,705	—		122,783,705
Singapore		—		208,958,676	—		208,958,676
United Kingdom		73,767		—	—		73,767
Rights/Warrants
Australia		—		431,607	—		431,607
Hong Kong		—		4,043	—		4,043
New Zealand		—		1,010	—		1,010
Securities Lending Collateral		—		257,950,593	—		257,950,593
TOTAL	$	647,453	$	2,058,445,814	—	$	2,059,093,267

THE UNITED KINGDOM SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

October 31, 2017

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (97.7%)
Consumer Discretionary — (20.8%)
	4imprint Group P.L.C.	101,851	$	2,600,592	0.1%
	888 Holdings P.L.C.	1,070,122		3,562,439	0.2%
	AA P.L.C.	3,246,551		7,384,550	0.3%
	Ascential P.L.C.	306,092		1,369,113	0.1%
	B&M European Value Retail SA	3,556,127		18,764,210	0.8%
	Bellway P.L.C.	662,602		32,126,797	1.4%
	Berkeley Group Holdings P.L.C.	100,356		4,986,746	0.2%
	Bloomsbury Publishing P.L.C.	311,604		678,735	0.0%
	Bovis Homes Group P.L.C.	921,633		14,397,861	0.6%
	Card Factory P.L.C.	1,222,154		5,097,009	0.2%
#*	Carpetright P.L.C.	95,402		210,325	0.0%
#	Centaur Media P.L.C.	537,905		390,840	0.0%
	Cineworld Group P.L.C.	1,219,783		10,762,045	0.5%
	Connect Group P.L.C.	1,312,384		1,921,771	0.1%
	Countryside Properties P.L.C.	358,419		1,691,768	0.1%
	Crest Nicholson Holdings P.L.C.	1,693,312		12,741,944	0.5%
	Daily Mail & General Trust P.L.C.	1,361,723		12,541,283	0.5%
	Debenhams P.L.C.	6,862,458		3,987,083	0.2%
	DFS Furniture P.L.C.	677,373		1,880,501	0.1%
	Dignity P.L.C.	288,661		9,292,840	0.4%
	Dixons Carphone P.L.C.	4,077,082		9,390,815	0.4%
	Domino's Pizza Group P.L.C.	2,536,833		11,309,590	0.5%
	Dunelm Group P.L.C.	427,603		4,157,867	0.2%
*	EI Group P.L.C.	3,204,098		5,722,835	0.2%
	Entertainment One, Ltd.	1,277,261		4,791,209	0.2%
	Euromoney Institutional Investor P.L.C.	281,428		4,316,940	0.2%
*	Findel P.L.C.	239,314		542,068	0.0%
	Fuller Smith & Turner P.L.C. Class A	135,207		1,726,102	0.1%
*	Future P.L.C.	52,125		239,613	0.0%
	Games Workshop Group P.L.C.	139,540		4,205,297	0.2%
	Greene King P.L.C.	1,786,209		12,834,892	0.6%
	Greggs P.L.C.	591,357		10,005,482	0.4%
	GVC Holdings P.L.C.	1,474,855		18,364,234	0.8%
	Gym Group P.L.C. (The)	456,040		1,344,757	0.1%
	Halfords Group P.L.C.	1,240,489		5,444,195	0.2%
	Headlam Group P.L.C.	460,886		3,612,036	0.2%
	Henry Boot P.L.C.	423,664		1,806,793	0.1%
	Hostelworld Group P.L.C.	123,775		561,610	0.0%
	Huntsworth P.L.C.	1,109,918		1,178,884	0.1%
	Inchcape P.L.C.	2,337,053		24,258,271	1.0%
	ITE Group P.L.C.	1,565,186		3,695,220	0.2%
	J D Wetherspoon P.L.C.	481,928		7,967,263	0.3%
#*	Jackpotjoy P.L.C.	144,566		1,567,066	0.1%
	JD Sports Fashion P.L.C.	2,289,045		10,870,409	0.5%
*	Jimmy Choo P.L.C.	338,542		1,034,159	0.0%
	John Menzies P.L.C.	471,357		4,380,166	0.2%
	Ladbrokes Coral Group P.L.C.	6,238,648		10,555,772	0.5%
	Laura Ashley Holdings P.L.C.	1,465,488		154,699	0.0%
	Lookers P.L.C.	1,876,000		2,613,586	0.1%
	Marston's P.L.C.	3,644,221		5,159,488	0.2%
	McCarthy & Stone P.L.C.	1,600,216		3,399,979	0.1%

The United Kingdom Small Company Series
CONTINUED

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Millennium & Copthorne Hotels P.L.C.	995,879	$	8,001,689	0.3%
	Mitchells & Butlers P.L.C.	1,178,448		3,998,168	0.2%
	MJ Gleeson P.L.C.	191,456		1,756,312	0.1%
#*	Mothercare P.L.C.	771,640		994,396	0.0%
	N Brown Group P.L.C.	1,083,230		4,334,454	0.2%
#*	Ocado Group P.L.C.	2,584,145		9,872,930	0.4%
	On the Beach Group P.L.C.	252,167		1,380,339	0.1%
#	Pendragon P.L.C.	7,184,488		2,407,924	0.1%
#	Pets at Home Group P.L.C.	1,490,288		3,486,482	0.2%
	Photo-Me International P.L.C.	1,249,846		2,974,917	0.1%
	Rank Group P.L.C.	865,458		2,735,761	0.1%
	Redrow P.L.C.	1,386,677		11,991,291	0.5%
	Restaurant Group P.L.C. (The)	1,177,060		4,747,703	0.2%
	Revolution Bars Group P.L.C.	14,864		33,454	0.0%
*	Sportech P.L.C.	396,817		553,217	0.0%
*	Sports Direct International P.L.C.	1,258,289		6,608,710	0.3%
	SSP Group P.L.C.	2,150,632		16,701,979	0.7%
	STV Group P.L.C.	4,868		23,248	0.0%
	SuperGroup P.L.C.	329,770		8,119,940	0.4%
	Tarsus Group P.L.C.	207,820		848,710	0.0%
	Ted Baker P.L.C.	153,478		5,647,875	0.2%
	Thomas Cook Group P.L.C.	8,687,680		13,822,620	0.6%
	Topps Tiles P.L.C.	925,429		857,430	0.0%
	Trinity Mirror P.L.C.	1,714,822		1,923,773	0.1%
	UBM P.L.C.	2,150,381		20,089,069	0.9%
	Vitec Group P.L.C. (The)	168,835		2,525,798	0.1%
	WH Smith P.L.C.	660,318		17,952,522	0.8%
	William Hill P.L.C.	4,390,122		15,064,779	0.6%
Total Consumer Discretionary				493,055,239	21.2%
Consumer Staples — (4.8%)
	A.G. Barr P.L.C.	665,276		5,514,365	0.2%
#	Anglo-Eastern Plantations P.L.C.	104,452		1,144,303	0.1%
	Booker Group P.L.C.	8,370,700		22,363,754	1.0%
	Britvic P.L.C.	1,306,339		13,130,641	0.6%
	Cranswick P.L.C.	287,167		11,746,946	0.5%
#	Dairy Crest Group P.L.C.	904,296		7,290,631	0.3%
	Devro P.L.C.	956,939		3,092,781	0.1%
	Greencore Group P.L.C.	3,643,038		9,327,356	0.4%
	Hilton Food Group P.L.C.	81,606		967,981	0.1%
	McBride P.L.C	31,345,230		41,631	0.0%
	McBride P.L.C.	1,080,870		3,086,103	0.1%
	McColl's Retail Group P.L.C.	77,861		295,498	0.0%
*	Premier Foods P.L.C.	4,656,491		2,424,894	0.1%
	PZ Cussons P.L.C.	1,596,632		7,007,604	0.3%
*	REA Holdings P.L.C.	50,639		224,448	0.0%
	Stock Spirits Group P.L.C.	879,433		2,942,542	0.1%
	Tate & Lyle P.L.C.	2,718,312		23,351,051	1.0%
Total Consumer Staples				113,952,529	4.9%

The United Kingdom Small Company Series
CONTINUED

					Percentage
		Shares	Value††		of Net Assets**
Energy — (4.2%)
	Anglo Pacific Group P.L.C.	824,529	$	1,474,831	0.1%
*	Cairn Energy P.L.C.	3,610,355		10,138,529	0.4%
*	EnQuest P.L.C.	6,129,232		2,097,955	0.1%
#*	Gulf Keystone Petroleum, Ltd.	344,229		476,576	0.0%
	Gulf Marine Services P.L.C.	122,883		87,813	0.0%
*	Hunting P.L.C.	865,376		6,024,755	0.3%
	James Fisher & Sons P.L.C.	274,504		5,661,665	0.2%
	John Wood Group P.L.C.	3,479,405		32,900,578	1.4%
*	Lamprell P.L.C.	1,201,647		1,180,947	0.1%
*	Nostrum Oil & Gas P.L.C.	162,231		810,692	0.0%
*	Ophir Energy P.L.C.	4,489,031		3,889,744	0.2%
	Petrofac, Ltd.	1,280,913		7,136,014	0.3%
#*	Premier Oil P.L.C.	3,177,084		2,873,050	0.1%
	Soco International P.L.C.	1,265,317		1,958,050	0.1%
#	Stobart Group, Ltd.	1,180,018		4,429,134	0.2%
#*	Tullow Oil P.L.C.	7,033,116		17,017,662	0.7%
Total Energy				98,157,995	4.2%
Financials — (14.8%)
*	Aldermore Group P.L.C.	1,178,492		4,710,601	0.2%
	Arrow Global Group P.L.C.	939,424		5,291,435	0.2%
	Ashmore Group P.L.C.	2,065,004		10,558,144	0.5%
	Beazley P.L.C.	2,911,016		19,527,655	0.8%
	BGEO Group P.L.C.	232,578		10,983,062	0.5%
	Brewin Dolphin Holdings P.L.C.	1,629,292		7,648,500	0.3%
	Charles Stanley Group P.L.C.	122,025		650,401	0.0%
	Charles Taylor P.L.C.	192,071		702,092	0.0%
	Chesnara P.L.C.	681,089		3,482,261	0.1%
	Close Brothers Group P.L.C.	842,028		15,529,712	0.7%
	CMC Markets P.L.C.	503,588		1,063,599	0.0%
*	CYBG P.L.C.	2,741,767		11,467,578	0.5%
	esure Group P.L.C.	1,683,935		6,007,272	0.3%
	Hansard Global P.L.C.	16,468		18,846	0.0%
	Hastings Group Holdings P.L.C.	848,972		3,551,252	0.2%
	Hiscox, Ltd.	1,547,072		29,336,860	1.3%
	IG Group Holdings P.L.C.	1,926,366		16,715,603	0.7%
	Intermediate Capital Group P.L.C.	1,606,829		20,747,945	0.9%
	International Personal Finance P.L.C.	1,161,020		3,111,754	0.1%
*	IP Group P.L.C.	1,901,736		3,735,548	0.2%
*	Janus Henderson Group P.L.C.	6,964		241,982	0.0%
	Jardine Lloyd Thompson Group P.L.C.	697,844		12,078,387	0.5%
	Jupiter Fund Management P.L.C.	2,283,894		18,021,025	0.8%
	Just Group P.L.C.	2,130,057		4,360,033	0.2%
	Lancashire Holdings, Ltd.	1,252,367		12,496,084	0.5%
	Man Group P.L.C.	9,157,327		23,548,762	1.0%
	NEX Group P.L.C.	1,698,725		14,295,946	0.6%
	Non-Standard Finance P.L.C.	41,040		41,372	0.0%
#	OneSavings Bank P.L.C.	878,686		4,729,329	0.2%
	Paragon Banking Group P.L.C.	1,630,518		10,290,131	0.4%
	Phoenix Group Holdings	2,000,670		20,109,594	0.9%
	Provident Financial P.L.C.	1,915		23,701	0.0%

The United Kingdom Small Company Series
CONTINUED

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Rathbone Brothers P.L.C.	261,693	$	8,903,920	0.4%
	River & Mercantile Group P.L.C.	2,983		13,909	0.0%
	S&U P.L.C.	20,417		541,124	0.0%
	Saga P.L.C.	5,734,496		14,553,582	0.6%
	Standard Life Aberdeen P.L.C.	1,039,369		5,930,874	0.3%
	TP ICAP P.L.C.	2,829,016		20,454,412	0.9%
	Virgin Money Holdings UK P.L.C.	1,376,117		5,330,733	0.2%
	Waterloo Investment Holdings, Ltd.	4,000		531	0.0%
Total Financials				350,805,551	15.0%
Health Care — (3.8%)
*	BTG P.L.C.	1,883,903		18,858,989	0.8%
	Cambian Group P.L.C.	559,761		1,442,241	0.1%
#*	Circassia Pharmaceuticals P.L.C.	469,883		521,106	0.0%
	Consort Medical P.L.C.	268,957		3,963,876	0.2%
	Dechra Pharmaceuticals P.L.C.	286,478		7,823,170	0.3%
	Genus P.L.C.	330,930		10,334,910	0.4%
#	Hikma Pharmaceuticals P.L.C.	129,885		2,007,633	0.1%
*	Indivior P.L.C.	3,837,838		18,938,519	0.8%
	Integrated Diagnostics Holdings P.L.C.	330,094		1,287,189	0.1%
	Spire Healthcare Group P.L.C.	1,177,046		4,644,230	0.2%
	UDG Healthcare P.L.C.	1,295,217		15,903,433	0.7%
*	Vectura Group P.L.C.	3,488,250		4,631,673	0.2%
Total Health Care				90,356,969	3.9%
Industrials — (25.8%)
	Aggreko P.L.C.	1,334,788		16,611,140	0.7%
	Air Partner P.L.C.	247,053		409,979	0.0%
	Alumasc Group P.L.C. (The)	45,428		100,740	0.0%
	Avon Rubber P.L.C.	135,585		1,762,499	0.1%
	Balfour Beatty P.L.C.	3,883,006		14,125,920	0.6%
	BBA Aviation P.L.C.	5,990,848		25,309,196	1.1%
	Bodycote P.L.C.	1,114,819		13,865,988	0.6%
	Braemar Shipping Services P.L.C.	138,732		568,697	0.0%
	Capita P.L.C.	1,200,867		8,362,864	0.4%
#	Carillion P.L.C.	2,653,376		1,602,315	0.1%
	Carr's Group P.L.C.	343,111		656,055	0.0%
	Castings P.L.C.	157,187		970,163	0.0%
	Chemring Group P.L.C.	1,670,720		3,827,281	0.2%
#	Clarkson P.L.C.	135,973		5,300,557	0.2%
	Clipper Logistics P.L.C.	46,575		269,293	0.0%
*	Cobham P.L.C.	12,408,518		22,901,572	1.0%
	Communisis P.L.C.	1,085,623		778,807	0.0%
	Costain Group P.L.C.	596,856		3,422,526	0.2%
	De La Rue P.L.C.	662,727		6,158,430	0.3%
*	Dialight P.L.C.	102,467		871,318	0.0%
	Diploma P.L.C.	643,732		9,219,389	0.4%
	Elis SA	377,312		9,747,615	0.4%
	Fenner P.L.C.	1,150,727		5,270,556	0.2%
*	Firstgroup P.L.C.	7,308,367		10,676,482	0.5%
*	Flybe Group P.L.C.	616,871		286,808	0.0%

The United Kingdom Small Company Series
CONTINUED

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	G4S P.L.C.	686,732	$	2,562,487	0.1%
	Galliford Try P.L.C.	481,131		7,796,892	0.3%
	Go-Ahead Group P.L.C.	245,440		5,769,958	0.3%
	Goodwin P.L.C.	383		10,469	0.0%
	Grafton Group P.L.C.	1,236,009		13,504,080	0.6%
	Harvey Nash Group P.L.C.	29,146		38,749	0.0%
	Hays P.L.C.	8,341,552		20,648,960	0.9%
	Hogg Robinson Group P.L.C.	182,016		181,533	0.0%
	HomeServe P.L.C.	1,383,521		15,731,024	0.7%
	Howden Joinery Group P.L.C.	3,763,658		20,496,619	0.9%
	IMI P.L.C.	1,368,653		22,207,186	1.0%
#	Interserve P.L.C.	841,666		815,460	0.0%
	IWG P.L.C.	3,349,423		9,582,930	0.4%
	John Laing Group P.L.C.	1,230,137		4,663,459	0.2%
	Keller Group P.L.C.	436,813		5,434,047	0.2%
	Kier Group P.L.C.	558,502		7,709,817	0.3%
	Management Consulting Group P.L.C.	788,035		66,366	0.0%
	Mears Group P.L.C.	559,712		3,368,948	0.1%
	Meggitt P.L.C.	3,799,091		26,153,041	1.1%
	Melrose Industries P.L.C.	9,415,164		27,500,308	1.2%
#	Mitie Group P.L.C.	2,122,246		6,678,107	0.3%
	Morgan Advanced Materials P.L.C.	1,596,390		6,657,823	0.3%
	Morgan Sindall Group P.L.C.	220,734		4,236,265	0.2%
	National Express Group P.L.C.	2,332,891		11,388,239	0.5%
	Norcros P.L.C.	29,186		68,611	0.0%
	Northgate P.L.C.	818,775		4,869,226	0.2%
	Pagegroup P.L.C.	1,768,306		10,983,990	0.5%
	PayPoint P.L.C.	283,410		3,456,574	0.2%
	Polypipe Group P.L.C.	1,128,301		6,186,334	0.3%
	Porvair P.L.C.	23,296		145,310	0.0%
	QinetiQ Group P.L.C.	3,166,821		10,265,348	0.4%
	Renewi P.L.C.	3,982,348		5,488,964	0.2%
*	Renold P.L.C.	193,435		112,467	0.0%
	Rentokil Initial P.L.C.	4,056,594		18,089,762	0.8%
	Ricardo P.L.C.	271,798		2,952,222	0.1%
	Robert Walters P.L.C.	381,498		3,147,939	0.1%
	Rotork P.L.C.	4,239,914		14,795,429	0.6%
	Royal Mail P.L.C.	737,584		3,665,167	0.2%
	RPS Group P.L.C.	1,347,928		5,266,437	0.2%
	Senior P.L.C.	2,470,762		9,462,853	0.4%
*	Serco Group P.L.C.	3,356,146		5,198,162	0.2%
	Severfield P.L.C.	1,262,597		1,093,973	0.1%
	SIG P.L.C.	3,688,259		8,447,397	0.4%
	Speedy Hire P.L.C.	2,890,361		2,122,491	0.1%
	Spirax-Sarco Engineering P.L.C.	367,759		27,595,228	1.2%
	St. Ives P.L.C.	747,425		729,834	0.0%
	Stagecoach Group P.L.C.	2,117,596		4,690,609	0.2%
	Sthree P.L.C.	530,086		2,499,544	0.1%
	T Clarke P.L.C.	147,457		151,727	0.0%
	Travis Perkins P.L.C.	853,860		17,236,813	0.7%
	Trifast P.L.C.	465,641		1,361,245	0.1%
	Tyman P.L.C.	517,200		2,350,020	0.1%

The United Kingdom Small Company Series
CONTINUED

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Ultra Electronics Holdings P.L.C.	410,895	$	9,949,709	0.4%
	Vesuvius P.L.C.	1,471,231		11,477,902	0.5%
*	Volex P.L.C.	307,047		293,600	0.0%
	Volution Group P.L.C.	175,581		492,492	0.0%
	Vp P.L.C.	159,998		1,700,303	0.1%
	Weir Group P.L.C. (The)	633,437		16,421,638	0.7%
	Wilmington P.L.C.	334,384		1,053,065	0.0%
	Wincanton P.L.C.	657,672		2,184,073	0.1%
*	Wizz Air Holdings P.L.C.	141,798		6,168,164	0.3%
	XP Power, Ltd.	79,867		3,711,725	0.2%
Total Industrials				612,165,304	26.3%
Information Technology — (10.9%)
	Acal P.L.C.	350,908		1,477,451	0.1%
	Auto Trader Group P.L.C.	3,741,417		17,013,390	0.7%
	AVEVA Group P.L.C.	418,609		14,024,471	0.6%
	Computacenter P.L.C.	441,424		5,832,228	0.2%
	Electrocomponents P.L.C.	2,762,938		25,482,641	1.1%
#	Equiniti Group P.L.C.	1,035,565		4,164,596	0.2%
	FDM Group Holdings P.L.C.	117,624		1,525,166	0.1%
	Fidessa Group P.L.C.	213,522		6,456,266	0.3%
	Gocompare.Com Group P.L.C.	1,697,878		2,295,704	0.1%
	Halma P.L.C.	1,908,645		29,948,327	1.3%
*	Imagination Technologies Group P.L.C.	594,017		1,424,477	0.1%
	Kainos Group P.L.C.	116,379		439,286	0.0%
	Laird P.L.C.	2,935,275		6,356,247	0.3%
	Moneysupermarket.com Group P.L.C.	2,650,925		11,437,629	0.5%
#	NCC Group P.L.C.	1,099,853		3,358,838	0.1%
	Oxford Instruments P.L.C.	313,269		3,953,004	0.2%
*	Paysafe Group P.L.C.	2,424,051		18,868,212	0.8%
	Playtech P.L.C.	1,462,260		19,106,906	0.8%
	Renishaw P.L.C.	194,895		12,821,685	0.5%
	Rightmove P.L.C.	468,485		25,845,606	1.1%
	RM P.L.C.	318,504		687,367	0.0%
	SDL P.L.C.	429,038		3,065,901	0.1%
	Softcat P.L.C.	510,218		3,636,803	0.2%
	Spectris P.L.C.	701,125		23,837,173	1.0%
	Spirent Communications P.L.C.	3,259,260		4,275,754	0.2%
	TT Electronics P.L.C.	889,623		2,637,887	0.1%
	Xaar P.L.C.	378,164		2,463,138	0.1%
	ZPG P.L.C.	1,407,097		6,541,219	0.3%
Total Information Technology				258,977,372	11.1%
Materials — (7.4%)
	Acacia Mining P.L.C.	900,534		2,156,455	0.1%
*	Carclo P.L.C.	238,794		421,006	0.0%
	Centamin P.L.C.	6,065,603		11,225,942	0.5%
	DS Smith P.L.C.	3,354,420		23,198,985	1.0%
	Elementis P.L.C.	2,658,318		10,038,556	0.4%
	Essentra P.L.C.	1,496,471		10,579,865	0.5%
	Evraz P.L.C.	1,700,218		6,516,459	0.3%

The United Kingdom Small Company Series
CONTINUED

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Ferrexpo P.L.C.	1,726,748	$	5,828,920	0.3%
	Forterra P.L.C.	216,806		864,284	0.0%
*	Gem Diamonds, Ltd.	654,276		695,095	0.0%
	Hill & Smith Holdings P.L.C.	448,007		7,870,505	0.3%
	Hochschild Mining P.L.C.	1,434,696		4,200,098	0.2%
	Ibstock P.L.C.	1,477,451		4,868,597	0.2%
*	KAZ Minerals P.L.C.	1,433,524		15,478,418	0.7%
#*	Lonmin P.L.C.	1,584,135		2,114,480	0.1%
	Low & Bonar P.L.C.	1,194,255		1,094,050	0.0%
	Marshalls P.L.C.	1,138,633		7,211,928	0.3%
*	Petra Diamonds, Ltd.	3,145,803		3,216,066	0.1%
#*	Petropavlovsk P.L.C.	13,841,290		1,473,055	0.1%
	RPC Group P.L.C.	2,253,573		28,202,447	1.2%
	Synthomer P.L.C.	1,390,961		9,044,905	0.4%
	Vedanta Resources P.L.C.	344,513		4,062,681	0.2%
	Victrex P.L.C.	482,843		15,374,148	0.7%
	Zotefoams P.L.C.	93,537		437,162	0.0%
Total Materials				176,174,107	7.6%
Real Estate — (2.3%)
#	Capital & Counties Properties P.L.C.	4,125,455		14,588,700	0.6%
	CLS Holdings P.L.C.	357,932		1,051,510	0.0%
#*	Countrywide P.L.C.	736,847		1,220,653	0.1%
	Daejan Holdings P.L.C.	41,786		3,439,306	0.2%
	Foxtons Group P.L.C.	1,025,578		1,077,409	0.0%
	Grainger P.L.C.	2,849,366		10,537,826	0.5%
	Harworth Group P.L.C.	30,680		43,801	0.0%
	Helical P.L.C.	645,281		2,637,656	0.1%
	LSL Property Services P.L.C.	337,727		1,048,431	0.0%
*	Raven Russia, Ltd.	1,019,157		667,820	0.0%
	Savills P.L.C.	819,792		10,155,621	0.4%
	St. Modwen Properties P.L.C.	1,203,358		6,081,627	0.3%
	U & I Group P.L.C.	734,066		1,800,490	0.1%
Total Real Estate				54,350,850	2.3%
Telecommunication Services — (1.3%)
	Inmarsat P.L.C.	2,371,810		19,563,902	0.9%
	KCOM Group P.L.C.	3,231,847		4,612,984	0.2%
#	TalkTalk Telecom Group P.L.C.	2,658,372		7,538,628	0.3%
Total Telecommunication Services				31,715,514	1.4%
Utilities — (1.6%)
	Drax Group P.L.C.	2,300,814		8,488,489	0.4%
	Pennon Group P.L.C.	2,236,812		23,590,729	1.0%

The United Kingdom Small Company Series
CONTINUED

					Percentage
		Shares	Value††		of Net Assets**
Utilities — (Continued)
	Telecom Plus P.L.C.	331,422	$	5,369,598	0.2%
Total Utilities				37,448,816	1.6%
TOTAL COMMON STOCKS				2,317,160,246	99.5%
TOTAL INVESTMENT SECURITIES				2,317,160,246
			Value†
SECURITIES LENDING COLLATERAL — (2.3%)
§@	DFA Short Term Investment Fund	4,640,939		53,700,300	2.3%
TOTAL INVESTMENTS — (100.0%) (Cost $1,951,561,258)			$	2,370,860,546	101.8%

The United Kingdom Small Company Series
CONTINUED

Summary of the Series' investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in Securities (Market Value)
	Level 1	Level 2		Level 3	Total
Common Stocks
Consumer Discretionary	—	$	493,055,239	—	$	493,055,239
Consumer Staples	—		113,952,529	—		113,952,529
Energy	—		98,157,995	—		98,157,995
Financials	—		350,805,551	—		350,805,551
Health Care	—		90,356,969	—		90,356,969
Industrials	—		612,165,304	—		612,165,304
Information Technology	—		258,977,372	—		258,977,372
Materials	—		176,174,107	—		176,174,107
Real Estate	—		54,350,850	—		54,350,850
Telecommunication Services	—		31,715,514	—		31,715,514
Utilities	—		37,448,816	—		37,448,816
Securities Lending Collateral	—		53,700,300	—		53,700,300
TOTAL	—	$	2,370,860,546	—	$	2,370,860,546

THE CONTINENTAL SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

October 31, 2017

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (91.6%)
AUSTRIA — (3.2%)
	Agrana Beteiligungs AG	18,464	$	2,289,181	0.0%
	ANDRITZ AG	351,021		19,848,846	0.4%
	Atrium European Real Estate, Ltd.	784,678		3,675,385	0.1%
#	Austria Technologie & Systemtechnik AG	162,266		3,474,069	0.1%
	BUWOG AG	489,463		14,108,603	0.3%
	CA Immobilien Anlagen AG	447,444		12,758,181	0.2%
#	DO & CO AG	33,913		1,798,393	0.0%
	EVN AG	210,647		3,325,087	0.1%
*	FACC AG	121,108		2,111,886	0.0%
	Flughafen Wien AG	21,308		857,413	0.0%
#	IMMOFINANZ AG	5,007,188		12,654,401	0.2%
	Josef Manner & Co. AG	870		60,184	0.0%
	Kapsch TrafficCom AG	33,915		1,969,848	0.0%
	Lenzing AG	66,004		8,934,872	0.2%
	Mayr Melnhof Karton AG	49,633		7,206,168	0.1%
	Oberbank AG	45,050		4,174,215	0.1%
	Oesterreichische Post AG	202,551		8,994,512	0.2%
	Palfinger AG	90,652		4,007,204	0.1%
	POLYTEC Holding AG	103,266		2,569,517	0.0%
#	Porr Ag	50,044		1,564,598	0.0%
*	Raiffeisen Bank International AG	394,076		13,704,435	0.2%
#	Rosenbauer International AG	19,267		1,215,573	0.0%
	S IMMO AG	330,386		5,819,587	0.1%
#*	Schoeller-Bleckmann Oilfield Equipment AG	63,374		5,913,337	0.1%
#	Semperit AG Holding	68,546		2,004,275	0.0%
	Strabag SE	105,005		4,384,573	0.1%
	Telekom Austria AG	750,700		7,028,178	0.1%
	UBM Realitaetenentwicklung AG	7,987		363,719	0.0%
	UNIQA Insurance Group AG	804,719		8,245,052	0.1%
	Verbund AG	308,524		7,492,241	0.1%
#	Vienna Insurance Group AG Wiener Versicherung Gruppe	193,477		5,663,916	0.1%
	Wienerberger AG	617,965		15,855,402	0.3%
#	Wolford AG	11,252		208,606	0.0%
	Zumtobel Group AG	173,368		2,964,066	0.1%
TOTAL AUSTRIA				197,245,523	3.4%
BELGIUM — (4.2%)
#*	Ablynx NV	353,451		7,251,510	0.1%
	Ackermans & van Haaren NV	134,719		23,072,545	0.4%
*	AGFA-Gevaert NV	1,218,771		5,726,252	0.1%
	Atenor	9,421		530,505	0.0%
	Banque Nationale de Belgique	87		289,376	0.0%
	Barco NV	67,758		6,942,025	0.1%
	Bekaert SA	214,947		10,167,357	0.2%
#*	Biocartis NV	37,762		565,878	0.0%
	bpost SA	503,661		14,200,245	0.3%
#*	Celyad SA	41,080		2,394,637	0.0%
	Cie d'Entreprises CFE	48,913		7,152,500	0.1%
	Cie Immobiliere de Belgique SA	14,788		915,336	0.0%
	Co.Br.Ha Societe Commerciale de Brasserie SA	111		472,710	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
BELGIUM — (Continued)
	D'ieteren SA	139,221	$	6,367,155	0.1%
*	Dalenys	20,562		212,932	0.0%
	Deceuninck NV	385,581		1,431,238	0.0%
	Econocom Group SA	686,666		5,284,725	0.1%
	Elia System Operator SA	170,406		9,884,466	0.2%
#	Euronav NV	767,990		6,364,502	0.1%
	EVS Broadcast Equipment SA	75,122		2,823,224	0.1%
#	Exmar NV	174,456		1,160,296	0.0%
#*	Fagron	262,019		3,398,795	0.1%
*	Galapagos NV(B07MXC1)	27,600		2,677,761	0.1%
*	Galapagos NV(B07Q2V5)	220,186		21,413,464	0.4%
	Gimv NV	51,130		3,081,494	0.1%
#	Ion Beam Applications	115,719		3,547,262	0.1%
	Jensen-Group NV	14,795		712,037	0.0%
	Kinepolis Group NV	94,699		6,398,925	0.1%
#	Lotus Bakeries	1,464		3,716,696	0.1%
#*	MDxHealth	214,040		1,190,310	0.0%
	Melexis NV	113,154		11,338,431	0.2%
#*	Nyrstar NV	745,540		5,952,157	0.1%
	Ontex Group NV	470,726		16,555,281	0.3%
	Orange Belgium SA	178,058		4,124,421	0.1%
	Picanol	28,690		3,236,963	0.1%
	RealDolmen	120		3	0.0%
	RealDolmen NV/SA	9,714		283,282	0.0%
	Recticel SA	247,048		2,445,986	0.0%
#	Resilux	5,092		893,495	0.0%
	Roularta Media Group NV	10,773		269,067	0.0%
	Sapec	1,288		89,274	0.0%
	Sioen Industries NV	50,085		1,524,965	0.0%
	Sipef SA	31,777		2,337,772	0.0%
*	Telenet Group Holding NV	35,452		2,451,852	0.0%
	TER Beke SA	2,544		513,421	0.0%
*	Tessenderlo Group SA	213,754		10,257,793	0.2%
#*	ThromboGenics NV	183,701		956,760	0.0%
#*	TiGenix NV	898,987		1,026,375	0.0%
	Umicore SA	703,600		31,444,010	0.6%
	Van de Velde NV	35,498		1,963,996	0.0%
*	Viohalco SA	583,796		2,006,434	0.0%
TOTAL BELGIUM				259,017,896	4.5%
DENMARK — (4.8%)
#	ALK-Abello A.S.	36,440		5,704,164	0.1%
	Alm Brand A.S.	562,935		5,822,412	0.1%
	Ambu A.S. Class B	134,157		12,365,487	0.2%
	Arkil Holding A.S. Class B	504		108,341	0.0%
*	Bang & Olufsen A.S.	256,627		5,948,126	0.1%
	BankNordik P/F	4,503		83,149	0.0%
#*	Bavarian Nordic A.S.	204,295		8,289,868	0.2%
	Brodrene Hartmann A.S.	16,148		877,849	0.0%
#	Columbus A.S.	305,416		631,313	0.0%
#*	D/S Norden A.S.	182,838		3,798,293	0.1%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
DENMARK — (Continued)
	DFDS A.S.	175,917	$	10,201,768	0.2%
	Djurslands Bank A.S.	8,970		355,388	0.0%
#	FLSmidth & Co. A.S.	254,968		17,478,513	0.3%
	Fluegger A.S. Class B	4,198		235,155	0.0%
	GN Store Nord A.S.	855,243		28,303,028	0.5%
	Gronlandsbanken A.S.	1,125		112,674	0.0%
*	H+H International A.S. Class B	55,740		1,134,490	0.0%
	Harboes Bryggeri A.S. Class B	16,516		288,156	0.0%
	IC Group A.S.	40,541		995,973	0.0%
#*	Jeudan A.S.	6,151		687,570	0.0%
	Jyske Bank A.S.	434,014		24,525,321	0.4%
	Lan & Spar Bank	4,981		358,456	0.0%
	Matas A.S.	201,093		2,251,807	0.0%
*	Nilfisk Holding A.S.	182,797		8,784,672	0.2%
*	NKT A.S.	182,797		7,836,733	0.1%
	NNIT A.S.	40,346		1,149,447	0.0%
	Nordjyske Bank A.S.	41,325		782,961	0.0%
	Parken Sport & Entertainment A.S.	33,556		382,838	0.0%
	Per Aarsleff Holding A.S.	122,724		3,401,661	0.1%
	Ringkjoebing Landbobank A.S.	124,338		6,206,953	0.1%
#	Roblon A.S. Class B	2,700		172,920	0.0%
	Rockwool International A.S. Class A	116		28,769	0.0%
	Rockwool International A.S. Class B	45,423		12,331,779	0.2%
	Royal Unibrew A.S.	243,054		13,992,764	0.3%
#	RTX A.S.	43,826		1,299,942	0.0%
*	Santa Fe Group A.S.	127,806		1,000,615	0.0%
	Schouw & Co. AB	78,577		8,176,982	0.2%
	SimCorp A.S.	236,334		14,433,485	0.3%
	Solar A.S. Class B	33,952		2,180,118	0.0%
	Spar Nord Bank A.S.	486,903		6,192,693	0.1%
	Sydbank A.S.	500,255		19,529,181	0.3%
	TDC A.S.	5,173,971		30,589,544	0.5%
	Tivoli A.S.	9,390		819,256	0.0%
*	TK Development A.S.	600,824		883,741	0.0%
*	Topdanmark A.S.	491,266		20,195,323	0.4%
	United International Enterprises	10,218		2,122,091	0.0%
#*	Vestjysk Bank A.S.	334,282		153,371	0.0%
#*	Zealand Pharma A.S.	140,795		2,601,171	0.1%
TOTAL DENMARK				295,806,311	5.1%
FINLAND — (6.0%)
#	Afarak Group Oyj	261,495		254,546	0.0%
	Ahlstrom-Munksjo Oyj	99,431		2,181,964	0.0%
	Aktia Bank Oyj	147,998		1,598,231	0.0%
	Alandsbanken Abp Class B	21,354		373,388	0.0%
	Alma Media Oyj	67,683		548,166	0.0%
	Amer Sports Oyj	678,576		16,883,420	0.3%
	Apetit Oyj	18,766		292,898	0.0%
	Aspo Oyj	92,762		992,059	0.0%
	Atria Oyj	64,462		898,749	0.0%
*	BasWare Oyj	45,370		2,234,746	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FINLAND — (Continued)
#	Bittium Oyj	175,613	$	1,266,577	0.0%
	Cargotec Oyj Class B	240,996		14,226,789	0.3%
#*	Caverion Oyj	604,858		4,578,280	0.1%
	Citycon Oyj	2,307,048		5,633,354	0.1%
	Cramo Oyj	216,643		4,809,731	0.1%
	Digia Oyj	69,731		203,763	0.0%
	Elisa Oyj	674,321		27,152,966	0.5%
	F-Secure Oyj	555,959		2,847,856	0.1%
	Finnair Oyj	472,532		6,162,613	0.1%
	Fiskars Oyj Abp	196,171		4,900,267	0.1%
*	Glaston Oyj Abp	46,084		25,547	0.0%
	HKScan Oyj Class A	193,582		710,858	0.0%
	Huhtamaki Oyj	574,099		24,453,639	0.4%
	Ilkka-Yhtyma Oyj	61,503		248,481	0.0%
	Kemira Oyj	700,602		9,871,314	0.2%
	Kesko Oyj Class A	35,459		1,797,862	0.0%
	Kesko Oyj Class B	374,357		19,117,902	0.3%
	Konecranes Oyj	344,278		15,851,835	0.3%
	Lassila & Tikanoja Oyj	184,650		3,915,352	0.1%
	Lemminkainen Oyj	30,098		807,260	0.0%
	Metsa Board Oyj	1,398,928		10,377,390	0.2%
	Metso Oyj	654,668		23,776,410	0.4%
	Nokian Renkaat Oyj	659,051		30,215,607	0.5%
	Olvi Oyj Class A	70,623		2,306,959	0.0%
	Oriola Oyj Class A	6,054		24,735	0.0%
	Oriola Oyj Class B	628,439		2,356,604	0.0%
	Orion Oyj Class A	123,563		5,071,703	0.1%
	Orion Oyj Class B	236,640		9,698,659	0.2%
	Outokumpu Oyj	2,921,503		27,616,847	0.5%
#*	Outotec Oyj	1,238,541		9,852,202	0.2%
	Pihlajalinna Oyj	50,309		925,397	0.0%
	Ponsse Oyj	57,223		1,796,188	0.0%
*	Poyry Oyj	188,253		1,074,802	0.0%
*	QT Group Oyj	55,899		377,708	0.0%
	Raisio Oyj Class V	637,300		2,634,287	0.0%
	Ramirent Oyj	524,612		4,826,503	0.1%
	Rapala VMC Oyj	109,543		495,023	0.0%
	Revenio Group Oyj	31,437		1,347,940	0.0%
	Sanoma Oyj	749,458		8,896,471	0.2%
#	SRV Group OYJ	33,082		159,340	0.0%
*	Stockmann Oyj Abp Class A	42,474		274,649	0.0%
#*	Stockmann Oyj Abp Class B	173,382		1,113,656	0.0%
	Technopolis Oyj	953,741		4,297,784	0.1%
	Teleste Oyj	46,406		429,825	0.0%
	Tieto Oyj	304,414		9,320,114	0.2%
	Tikkurila Oyj	227,385		4,494,675	0.1%
	Uponor Oyj	298,122		6,001,357	0.1%
	Vaisala Oyj Class A	49,697		2,701,186	0.1%
	Valmet Oyj	746,829		14,480,125	0.3%
	Viking Line Abp	10,366		217,205	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FINLAND — (Continued)
#	YIT Oyj	1,293,609	$	9,831,168	0.2%
TOTAL FINLAND				371,832,932	6.5%
FRANCE — (12.9%)
	ABC Arbitrage	150,388		1,084,528	0.0%
#	Actia Group	48,398		371,110	0.0%
#*	Air France-KLM	993,402		15,554,359	0.3%
	Akka Technologies	51,478		3,104,448	0.1%
	Albioma SA	128,585		3,065,190	0.1%
	Altamir	129,576		2,336,516	0.1%
	Alten SA	142,403		12,462,595	0.2%
	Altran Technologies SA	771,932		14,276,709	0.3%
#*	Antalis International SAS	80,106		195,010	0.0%
	April SA	74,473		1,240,276	0.0%
#*	Archos	138,714		114,697	0.0%
	Arkema SA	89,551		11,313,098	0.2%
	Assystem	62,252		2,408,763	0.1%
	Aubay	31,239		1,257,600	0.0%
	Axway Software SA	35,286		970,201	0.0%
	Bastide le Confort Medical	14,882		801,624	0.0%
	Beneteau SA	216,231		3,890,098	0.1%
*	Bigben Interactive	39,004		612,796	0.0%
	BioMerieux	91,219		7,154,934	0.1%
	Boiron SA	38,163		3,445,676	0.1%
	Bonduelle SCA	79,100		3,733,305	0.1%
#	Bourbon Corp.	97,879		874,498	0.0%
	Burelle SA	1,252		1,871,034	0.0%
#	Casino Guichard Perrachon SA	87,420		4,991,632	0.1%
	Catering International Services	14,124		282,177	0.0%
#*	Cegedim SA	25,022		973,875	0.0%
#*	CGG SA	97,011		463,313	0.0%
	Chargeurs SA(5021318)	107,537		3,033,528	0.1%
*	Chargeurs SA(BDH48T0)	1,205		32,312	0.0%
	Cie des Alpes	48,126		1,526,479	0.0%
	Cie Plastic Omnium SA	312,439		13,027,933	0.2%
*	Coface SA	364,884		3,986,824	0.1%
	Derichebourg SA	584,687		6,234,431	0.1%
	Devoteam SA	28,114		2,627,255	0.1%
	Dom Security	2,414		172,884	0.0%
#	Edenred	1,222,953		35,256,073	0.6%
	Electricite de Strasbourg SA	21,168		3,079,690	0.1%
	Elior Group SA	578,748		16,435,422	0.3%
#	Elis SA	500,629		13,052,484	0.2%
*	Eramet	45,347		3,734,686	0.1%
*	Esso SA Francaise	15,303		1,044,752	0.0%
*	Etablissements Maurel et Prom	16,344		69,304	0.0%
	Euler Hermes Group	62,021		7,195,143	0.1%
	Euronext NV	291,850		17,333,173	0.3%
	Europcar Groupe SA	387,193		5,537,470	0.1%
#	Eutelsat Communications SA	499,917		12,521,906	0.2%
	Exel Industries Class A	10,330		1,373,467	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FRANCE — (Continued)
	Faurecia	306,467	$	22,278,725	0.4%
	Fleury Michon SA	5,962		352,342	0.0%
*	Fnac Darty SA	80,703		7,627,586	0.1%
	Gaumont SA	13,521		1,568,653	0.0%
#	Gaztransport Et Technigaz SA	115,771		5,666,425	0.1%
	GEA	2,433		255,014	0.0%
	Gevelot SA	3,466		811,939	0.0%
	GL Events	48,992		1,492,503	0.0%
	Groupe Crit	23,123		2,182,143	0.0%
	Groupe Eurotunnel SE	1,656,217		20,813,393	0.4%
#*	Groupe Gorge	22,858		512,449	0.0%
	Groupe Open	28,476		961,786	0.0%
#	Guerbet	32,440		2,920,538	0.1%
#	Haulotte Group SA	74,466		1,357,070	0.0%
	HERIGE SADCS	4,147		184,017	0.0%
#*	HiPay Group SA	24,579		388,703	0.0%
*	ID Logistics Group	8,079		1,387,114	0.0%
	Imerys SA	142,632		12,987,459	0.2%
#	Ingenico Group SA	301,300		29,258,749	0.5%
	Interparfums SA	51,788		1,930,614	0.0%
	Ipsen SA	115,089		13,915,124	0.3%
	IPSOS	185,468		6,854,775	0.1%
	Jacquet Metal Service	70,664		2,285,119	0.0%
	Kaufman & Broad SA	80,346		3,550,364	0.1%
	Korian SA	231,307		7,517,060	0.1%
	Lagardere SCA	673,857		22,190,928	0.4%
	Lanson-BCC	8,795		335,391	0.0%
	Laurent-Perrier	12,613		1,182,894	0.0%
	Le Belier	5,812		319,173	0.0%
	Le Noble Age	29,442		2,064,110	0.0%
	Lectra	133,460		3,905,488	0.1%
#	Linedata Services	11,036		503,276	0.0%
	LISI	96,951		4,450,396	0.1%
	Maisons France Confort SA	15,908		1,111,291	0.0%
	Manitou BF SA	49,876		1,976,226	0.0%
	Manutan International	14,076		1,388,482	0.0%
	Mersen SA	117,956		5,177,167	0.1%
#*	METabolic EXplorer SA	151,621		392,175	0.0%
	Metropole Television SA	290,250		6,710,196	0.1%
	MGI Coutier	56,783		2,305,462	0.1%
	Mr Bricolage	30,731		602,804	0.0%
#*	Naturex	33,826		3,841,529	0.1%
	Neopost SA	196,501		7,243,151	0.1%
	Nexans SA	184,272		12,060,121	0.2%
	Nexity SA	216,719		13,320,017	0.2%
#*	Nicox	136,752		1,399,691	0.0%
*	NRJ Group	73,487		927,618	0.0%
#	Oeneo SA	136,683		1,506,416	0.0%
#*	Onxeo SA(B04P0G6)	246,319		407,528	0.0%
#*	Onxeo SA(BPFJVR0)	48,958		81,127	0.0%
	Orpea	178,098		21,337,715	0.4%
#*	Parrot SA	110,259		1,374,681	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FRANCE — (Continued)
	PCAS	6,508	$	128,304	0.0%
*	Pierre & Vacances SA	29,314		1,567,774	0.0%
	Plastivaloire	40,938		1,048,312	0.0%
	PSB Industries SA	8,574		474,364	0.0%
#	Rallye SA	139,003		2,376,465	0.1%
#*	Recylex SA	22,486		369,275	0.0%
	Rexel SA	1,596,995		28,477,648	0.5%
#	Robertet SA	3,476		1,625,652	0.0%
	Rothschild & Co.	31,593		1,134,588	0.0%
#	Rubis SCA	466,180		29,254,014	0.5%
	Samse SA	8,068		1,476,377	0.0%
	Sartorius Stedim Biotech	101,854		6,941,415	0.1%
	Savencia SA	33,010		3,153,164	0.1%
	SEB SA	40,684		7,581,684	0.1%
	Seche Environnement SA	12,173		441,009	0.0%
#*	Sequana SA	289,137		269,488	0.0%
#*	SES-imagotag SA	8,385		288,614	0.0%
	Societe BIC SA	719		75,920	0.0%
*	Societe des Bains de Mer et du Cercle des Etrangers a Monaco	60,258		2,949,046	0.1%
	Societe Marseillaise du Tunnel Prado-Carenage SA	3,434		86,783	0.0%
#	Societe pour l'Informatique Industrielle	39,961		1,035,221	0.0%
*	SOITEC	87,729		6,903,879	0.1%
#*	Solocal Group	3,289,445		3,639,475	0.1%
	Somfy SA	104,615		10,596,031	0.2%
	Sopra Steria Group	74,602		13,994,786	0.3%
	SPIE SA	434,521		11,432,857	0.2%
*	Stallergenes Greer P.L.C.	14,875		762,428	0.0%
#*	Ste Industrielle d'Aviation Latecoere SA	362,344		2,295,668	0.0%
	Stef SA	28,044		3,100,067	0.1%
	Sword Group	35,526		1,456,937	0.0%
	Synergie SA	69,728		3,776,776	0.1%
	Tarkett SA	121,413		5,164,743	0.1%
	Technicolor SA	1,482,868		5,254,685	0.1%
	Teleperformance	253,057		36,957,477	0.7%
	Television Francaise 1	615,411		8,749,662	0.2%
	Tessi SA	6,874		1,390,181	0.0%
	TFF Group	5,065		925,720	0.0%
#	Thermador Groupe	15,556		1,901,455	0.0%
	Total Gabon	1,515		248,176	0.0%
*	Touax SA	8,812		138,761	0.0%
	Trigano SA	46,958		7,577,721	0.1%
*	Ubisoft Entertainment SA	521,852		39,817,112	0.7%
	Union Financiere de France BQE SA	16,855		637,904	0.0%
#*	Vallourec SA	1,629,822		8,914,161	0.2%
#*	Valneva SE	313,427		1,014,910	0.0%
	Vetoquinol SA	17,183		1,108,945	0.0%
	Vicat SA	88,509		6,846,212	0.1%
	VIEL & Cie SA	161,700		1,006,668	0.0%
	Vilmorin & Cie SA	28,529		2,747,239	0.1%
#*	Virbac SA	22,063		2,840,703	0.1%
	Vranken-Pommery Monopole SA	18,262		512,613	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FRANCE — (Continued)
*	Worldline SA	49,810	$	2,435,648	0.1%
TOTAL FRANCE				798,204,712	13.9%
GERMANY — (14.8%)
	Aareal Bank AG	400,002		16,631,037	0.3%
*	Adler Modemaerkte AG	43,741		296,945	0.0%
#*	ADLER Real Estate AG	152,507		2,363,067	0.0%
	ADO Properties SA	66,737		3,299,303	0.1%
#*	ADVA Optical Networking SE	227,659		1,429,706	0.0%
*	AIXTRON SE	634,440		9,903,954	0.2%
	All for One Steeb AG	569		40,313	0.0%
	Allgeier SE	28,772		763,044	0.0%
	Amadeus Fire AG	30,551		2,800,740	0.1%
*	AS Creation Tapeten	7,109		179,086	0.0%
	Atoss Software AG	193		16,411	0.0%
#	Aurubis AG	190,068		15,575,386	0.3%
#	Axel Springer SE	217,339		14,633,448	0.3%
	Basler AG	5,657		1,151,896	0.0%
	Bauer AG	53,409		1,728,614	0.0%
	BayWa AG(5838057)	81,254		3,175,471	0.1%
	BayWa AG(5838068)	124		4,916	0.0%
	Bechtle AG	158,870		12,715,311	0.2%
#	Bertrandt AG	27,357		2,580,978	0.1%
	Bijou Brigitte AG	19,732		1,237,943	0.0%
#	Bilfinger SE	178,040		7,182,914	0.1%
#	Biotest AG	60,306		1,907,609	0.0%
	Borussia Dortmund GmbH & Co. KGaA	478,728		3,982,695	0.1%
#	CANCOM SE	89,872		6,639,230	0.1%
	Carl Zeiss Meditec AG	180,477		9,623,618	0.2%
	CECONOMY AG	509,047		6,644,554	0.1%
	CENIT AG	49,616		1,174,042	0.0%
	CENTROTEC Sustainable AG	44,813		969,402	0.0%
	Cewe Stiftung & Co. KGAA	30,681		3,008,211	0.1%
	Comdirect Bank AG	181,201		2,511,861	0.1%
	CompuGroup Medical SE	118,208		6,806,151	0.1%
*	Constantin Medien AG	333,881		739,059	0.0%
	CropEnergies AG	118,349		1,253,648	0.0%
	CTS Eventim AG & Co. KGaA	219,481		9,078,279	0.2%
	Data Modul AG	11,455		1,024,189	0.0%
#	Delticom AG	28,981		432,244	0.0%
	Deutsche Beteiligungs AG	62,896		3,197,695	0.1%
#	Deutsche EuroShop AG	220,384		8,054,958	0.1%
	Deutsche Pfandbriefbank AG	298,169		4,291,608	0.1%
	Deutz AG	599,311		5,077,051	0.1%
*	Dialog Semiconductor P.L.C.	382,079		19,089,174	0.3%
	DIC Asset AG	276,567		3,252,247	0.1%
	Diebold Nixdorf AG	11,893		997,459	0.0%
	DMG Mori AG	33,168		1,920,461	0.0%
	Dr Hoenle AG	25,078		1,161,930	0.0%
	Draegerwerk AG & Co. KGaA	16,396		1,455,026	0.0%
	Drillisch AG	227,365		16,129,551	0.3%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
	Duerr AG	143,919	$	19,916,912	0.4%
	Eckert & Ziegler AG	18,549		785,607	0.0%
	EDAG Engineering Group AG	8,012		124,766	0.0%
	Elmos Semiconductor AG	57,683		1,626,336	0.0%
#	ElringKlinger AG	167,277		2,925,561	0.1%
*	Euromicron AG	43,500		441,880	0.0%
*	Evotec AG	1,078,504		22,950,178	0.4%
#	Ferratum Oyj	23,569		745,934	0.0%
	Fielmann AG	112,225		9,860,988	0.2%
*	First Sensor AG	25,287		622,896	0.0%
	Francotyp-Postalia Holding AG Class A	53,729		305,864	0.0%
	Fraport AG Frankfurt Airport Services Worldwide	52,289		4,968,692	0.1%
	Freenet AG	763,964		25,583,539	0.5%
	Fuchs Petrolub SE	147,225		7,331,681	0.1%
	Gerresheimer AG	193,393		15,468,775	0.3%
	Gerry Weber International AG	112,020		1,392,359	0.0%
	Gesco AG	46,440		1,655,306	0.0%
#	GFT Technologies SE	88,655		1,331,408	0.0%
	Grammer AG	78,618		4,567,785	0.1%
	GRENKE AG	109,860		10,758,757	0.2%
*	H&R GmbH & Co. KGaA	45,545		806,230	0.0%
	Hamburger Hafen und Logistik AG	134,558		4,297,209	0.1%
#*	Heidelberger Druckmaschinen AG	1,506,720		6,023,433	0.1%
	Hella GmbH & Co KGaA	175,673		10,611,312	0.2%
*	Highlight Communications AG	94,846		554,354	0.0%
*	HolidayCheck Group AG	149,489		494,279	0.0%
	Hornbach Baumarkt AG	24,400		890,944	0.0%
#	Hugo Boss AG	314,787		28,154,350	0.5%
	Indus Holding AG	128,956		9,044,870	0.2%
#	Init Innovation In Traffic Systems AG	25,337		575,795	0.0%
	Isra Vision AG	18,038		3,509,907	0.1%
	Jenoptik AG	267,173		9,004,884	0.2%
#	K+S AG	1,020,067		24,799,642	0.4%
	KION Group AG	11,207		897,991	0.0%
	Kloeckner & Co. SE	526,099		6,204,327	0.1%
#	Koenig & Bauer AG	72,702		5,660,368	0.1%
#	Krones AG	75,365		9,535,086	0.2%
	KSB AG	3,466		1,878,932	0.0%
	KWS Saat SE	15,926		6,709,865	0.1%
	Lanxess AG	471,353		36,958,137	0.6%
	LEG Immobilien AG	331,263		33,743,929	0.6%
	Leifheit AG	40,972		1,456,967	0.0%
	Leoni AG	197,115		13,114,656	0.2%
#*	LPKF Laser & Electronics AG	67,178		689,554	0.0%
#*	Manz AG	22,318		995,729	0.0%
	MasterFlex SE	19,347		180,482	0.0%
*	Mediclin AG	88,966		585,864	0.0%
#*	Medigene AG	56,083		839,011	0.0%
	MLP SE	341,683		2,362,895	0.0%
	MTU Aero Engines AG	144,099		24,384,649	0.4%
	Nemetschek SE	107,874		9,645,146	0.2%
	Nexus AG	62,008		1,887,592	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
#*	Nordex SE	307,691	$	3,195,457	0.1%
	Norma Group SE	202,672		13,812,848	0.2%
	OHB SE	34,003		1,657,201	0.0%
	OSRAM Licht AG	280,364		21,467,400	0.4%
#	paragon AG	9,842		856,209	0.0%
*	Patrizia Immobilien AG	289,524		6,132,814	0.1%
*	Petro Welt Technologies AG	6,474		46,210	0.0%
	Pfeiffer Vacuum Technology AG	52,225		8,385,156	0.2%
	PNE Wind AG	374,040		1,126,429	0.0%
	Progress-Werk Oberkirch AG	7,571		427,643	0.0%
	PSI AG Gesellschaft Fuer Produkte und Systeme der        Informationstechnologie	35,112		786,563	0.0%
	Puma SE	10,528		4,755,416	0.1%
*	PVA TePla AG	50,786		401,775	0.0%
#	QIAGEN NV	701,160		23,788,035	0.4%
#	QSC AG	511,878		1,023,437	0.0%
#	R Stahl AG	14,952		554,968	0.0%
	Rational AG	14,449		9,533,141	0.2%
	Rheinmetall AG	234,011		27,793,104	0.5%
	RHOEN-KLINIKUM AG	233,180		8,143,590	0.1%
#	RIB Software SE	197,541		4,872,987	0.1%
#	S&T AG	302,176		5,847,337	0.1%
	SAF-Holland SA	337,748		6,704,713	0.1%
	Salzgitter AG	220,205		10,654,067	0.2%
#*	Schaltbau Holding AG	27,311		955,270	0.0%
	Schloss Wachenheim AG	7,479		189,160	0.0%
#	Secunet Security Networks AG	3,012		294,301	0.0%
*	SGL Carbon SE	91,937		1,449,990	0.0%
	SHW AG	25,624		1,018,682	0.0%
*	Siltronic AG	76,944		11,483,713	0.2%
	Sixt Leasing SE	23,976		529,915	0.0%
#	Sixt SE	80,910		7,573,180	0.1%
#	SMA Solar Technology AG	66,507		3,095,603	0.1%
*	SMT Scharf AG	18,103		276,882	0.0%
#	Softing AG	22,353		239,331	0.0%
	Software AG	309,788		15,746,534	0.3%
	Stabilus SA	96,904		8,849,672	0.2%
#	STRATEC Biomedical AG	7,926		577,039	0.0%
#	Stroeer SE & Co. KGaA	118,799		7,597,642	0.1%
	Suedzucker AG	438,206		8,683,875	0.2%
*	SUESS MicroTec SE	113,887		2,192,245	0.0%
	Surteco SE	34,439		1,032,497	0.0%
	TAG Immobilien AG	828,939		14,290,798	0.3%
	Takkt AG	165,742		3,444,178	0.1%
	Technotrans AG	34,509		2,003,538	0.0%
*	Tele Columbus AG	133,073		1,387,845	0.0%
	TLG Immobilien AG	301,933		7,003,573	0.1%
#*	Tom Tailor Holding SE	189,809		1,957,806	0.0%
#	Uniper SE	312,671		8,785,613	0.2%
	VERBIO Vereinigte BioEnergie AG	127,536		1,197,863	0.0%
*	Vossloh AG	68,437		4,335,596	0.1%
#	VTG AG	80,128		4,627,572	0.1%
	Wacker Chemie AG	74,710		11,668,194	0.2%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
	Wacker Neuson SE	152,874	$	4,979,282	0.1%
	Washtec AG	53,359		4,725,966	0.1%
	Wuestenrot & Wuerttembergische AG	39,402		1,057,948	0.0%
	XING SE	16,563		4,920,585	0.1%
	Zeal Network SE	40,531		1,089,201	0.0%
TOTAL GERMANY				919,223,637	16.0%
HONG KONG — (0.1%)
	Papeles y Cartones de Europa SA	302,916		3,147,046	0.1%
IRELAND — (1.2%)
	C&C Group P.L.C.(B010DT8)	399,607		1,377,649	0.0%
	C&C Group P.L.C.(B011Y09)	1,085,694		3,716,709	0.1%
	Datalex P.L.C.	79,537		329,208	0.0%
*	FBD Holdings P.L.C.	125,459		1,315,274	0.0%
	Glanbia P.L.C.(0066950)	700,613		13,448,720	0.2%
	Glanbia P.L.C.(4058629)	214,971		4,157,914	0.1%
	IFG Group P.L.C.	302,015		643,769	0.0%
*	Independent News & Media P.L.C.	1,915,415		243,639	0.0%
	Irish Continental Group P.L.C.(BLP5857)	485,129		3,231,512	0.1%
	Irish Continental Group P.L.C.(BLP59W1)	234,200		1,541,810	0.0%
	Kingspan Group P.L.C.	734,997		30,725,971	0.5%
	Smurfit Kappa Group P.L.C.	536,543		16,005,652	0.3%
TOTAL IRELAND				76,737,827	1.3%
ISRAEL — (2.5%)
#*	ADO Group, Ltd.	82,297		1,667,945	0.0%
	Afcon Holdings, Ltd.	482		22,076	0.0%
*	Africa Israel Properties, Ltd.	87,019		2,061,909	0.0%
	Africa Israel Residences, Ltd.	594		11,522	0.0%
#*	Airport City, Ltd.	421,822		5,395,768	0.1%
#	Albaad Massuot Yitzhak, Ltd.	1,142		16,862	0.0%
*	Allot Communications, Ltd.	143,349		779,398	0.0%
	Alony Hetz Properties & Investments, Ltd.	115,242		1,191,887	0.0%
#	Alrov Properties and Lodgings, Ltd.	48,457		1,551,741	0.0%
	Amot Investments, Ltd.	637,210		3,760,767	0.1%
	Arad, Ltd.	2,169		21,742	0.0%
#*	Arko Holdings, Ltd.	559,380		222,079	0.0%
	Ashtrom Properties, Ltd.	57,507		296,507	0.0%
*	AudioCodes, Ltd.	165,181		1,138,953	0.0%
	Avgol Industries 1953, Ltd.	435,107		562,367	0.0%
*	Azorim-Investment Development & Construction Co., Ltd.	405,707		472,510	0.0%
	Bayside Land Corp.	4,564		2,128,233	0.1%
#	Big Shopping Centers, Ltd.	27,978		2,045,765	0.0%
*	BioLine RX, Ltd.	70,234		71,998	0.0%
#	Blue Square Real Estate, Ltd.	32,443		1,336,864	0.0%
#*	Brack Capital Properties NV	30,484		3,328,320	0.1%
*	Camtek, Ltd.	19,052		109,324	0.0%
	Carasso Motors, Ltd.	66,855		549,284	0.0%
#*	Cellcom Israel, Ltd.	310,154		3,003,277	0.1%
*	Ceragon Networks, Ltd.	273,951		572,665	0.0%
#*	Clal Biotechnology Industries, Ltd.	291,561		269,731	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ISRAEL — (Continued)
*	Clal Insurance Enterprises Holdings, Ltd.	123,888	$	2,376,775	0.1%
	Cohen Development & Industrial Buildings, Ltd.	3,184		66,909	0.0%
*	Compugen, Ltd.	185,531		566,781	0.0%
	Danel Adir Yeoshua, Ltd.	6,246		298,666	0.0%
#	Delek Automotive Systems, Ltd.	204,232		1,534,572	0.0%
#	Delta-Galil Industries, Ltd.	72,570		2,373,482	0.1%
#	Direct Insurance Financial Investments, Ltd.	89,972		1,006,045	0.0%
	DS Apex Holdings, Ltd.	44,186		171,792	0.0%
	El Al Israel Airlines	1,852,806		1,013,233	0.0%
	Electra Consumer Products 1970, Ltd.	50,581		1,009,419	0.0%
	Electra, Ltd.	10,539		2,399,275	0.1%
	Elron Electronic Industries, Ltd.	92,425		448,232	0.0%
	Energix-Renewable Energies, Ltd.	574,896		533,159	0.0%
*	Enlight Renewable Energy, Ltd.	818,759		373,406	0.0%
*	Equital, Ltd.	16,997		391,191	0.0%
#*	Evogene, Ltd.	70,559		298,455	0.0%
	First International Bank Of Israel, Ltd.	233,290		4,429,080	0.1%
	FMS Enterprises Migun, Ltd.	18,743		734,848	0.0%
*	Foresight Autonomous Holdings, Ltd.	67,181		78,182	0.0%
#	Formula Systems 1985, Ltd.	55,198		2,278,855	0.1%
	Fox Wizel, Ltd.	43,951		911,645	0.0%
*	Gilat Satellite Networks, Ltd.	200,464		1,429,827	0.0%
*	Hadera Paper, Ltd.	15,464		1,060,306	0.0%
	Hamlet Israel-Canada, Ltd.	21,370		404,466	0.0%
	Harel Insurance Investments & Financial Services, Ltd.	636,496		4,351,138	0.1%
#	Hilan, Ltd.	60,701		1,196,132	0.0%
	IDI Insurance Co., Ltd.	33,039		2,212,533	0.1%
#*	Industrial Buildings Corp., Ltd.	536,124		787,736	0.0%
#	Inrom Construction Industries, Ltd.	290,531		1,297,209	0.0%
*	Intec Pharma, Ltd.	15,263		125,753	0.0%
*	Israel Discount Bank, Ltd. Class A	2,586,064		6,869,588	0.1%
#	Israel Land Development Co., Ltd. (The)	23,613		235,685	0.0%
	Isras Investment Co., Ltd.	919		108,317	0.0%
*	Issta Lines, Ltd.	2,915		60,390	0.0%
*	Jerusalem Oil Exploration	50,465		2,700,875	0.1%
#*	Kamada, Ltd.	160,188		797,673	0.0%
*	Kenon Holdings, Ltd.	54,892		943,637	0.0%
	Kerur Holdings, Ltd.	24,373		743,002	0.0%
	Klil Industries, Ltd.	5,219		455,209	0.0%
	Maabarot Products, Ltd.	21,999		399,043	0.0%
	Magic Software Enterprises, Ltd.	107,519		916,461	0.0%
#	Matrix IT, Ltd.	207,149		2,276,425	0.1%
#	Maytronics, Ltd.	197,821		905,808	0.0%
#*	Mazor Robotics, Ltd.	228,777		7,357,311	0.1%
	Mediterranean Towers, Ltd.	30,691		55,131	0.0%
	Mega Or Holdings, Ltd.	33,768		404,968	0.0%
	Melisron, Ltd.	73,243		3,832,114	0.1%
	Menora Mivtachim Holdings, Ltd.	137,944		1,705,483	0.0%
	Migdal Insurance & Financial Holding, Ltd.	2,192,100		2,548,735	0.1%
#	Mivtach Shamir Holdings, Ltd.	22,547		475,989	0.0%
	Naphtha Israel Petroleum Corp., Ltd.	195,407		1,127,716	0.0%
#	Nawi Brothers, Ltd.	52,146		281,484	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ISRAEL — (Continued)
	Neto ME Holdings, Ltd.	8,739	$	873,166	0.0%
*	Nova Measuring Instruments, Ltd.	152,942		4,665,671	0.1%
	Oil Refineries, Ltd.	6,695,603		3,444,469	0.1%
*	Partner Communications Co., Ltd.	628,933		3,352,819	0.1%
	Paz Oil Co., Ltd.	32,724		5,343,864	0.1%
*	Perion Network, Ltd.	16,455		17,199	0.0%
*	Phoenix Holdings, Ltd. (The)	356,371		1,763,504	0.0%
	Plasson Industries, Ltd.	16,626		788,352	0.0%
	Rami Levy Chain Stores Hashikma Marketing 2006, Ltd.	36,756		1,799,441	0.0%
#*	Redhill Biopharma, Ltd.	123,969		110,613	0.0%
	Scope Metals Group, Ltd.	33,909		949,757	0.0%
#	Shapir Engineering and Industry, Ltd.	417,649		1,464,748	0.0%
#	Shikun & Binui, Ltd.	1,180,819		2,785,409	0.1%
	Shufersal, Ltd.	411,270		2,613,649	0.1%
*	Space Communication, Ltd.	17,611		93,679	0.0%
	Strauss Group, Ltd.	179,343		3,653,879	0.1%
	Summit Real Estate Holdings, Ltd.	144,154		1,101,103	0.0%
#*	Suny Cellular Communication, Ltd.	133,032		91,009	0.0%
#	Tadiran Holdings, Ltd.	12,911		354,487	0.0%
*	Tower Semiconductor, Ltd.	405,114		13,418,296	0.2%
#*	Union Bank of Israel	199,952		1,015,210	0.0%
TOTAL ISRAEL				153,649,964	2.7%
ITALY — (10.2%)
	A2A SpA	9,175,761		15,757,730	0.3%
	ACEA SpA	320,299		5,214,390	0.1%
#*	Aedes SIIQ SpA	87,868		46,696	0.0%
#*	Aeffe SpA	190,047		545,741	0.0%
	Aeroporto Guglielmo Marconi Di Bologna SpA	26,387		467,643	0.0%
	Amplifon SpA	499,526		7,587,952	0.1%
	Anima Holding SpA	1,399,884		10,644,263	0.2%
*	Ansaldo STS SpA	572,443		7,900,054	0.1%
*	Arnoldo Mondadori Editore SpA	838,719		2,171,447	0.0%
	Ascopiave SpA	446,360		1,875,520	0.0%
#	Astaldi SpA	309,909		2,145,786	0.0%
	Autogrill SpA	712,126		9,312,962	0.2%
	Azimut Holding SpA	599,714		11,837,989	0.2%
	B&C Speakers SpA	5,774		90,997	0.0%
#*	Banca Carige SpA	2,433,018		592,457	0.0%
	Banca Finnat Euramerica SpA	616,149		304,703	0.0%
	Banca Generali SpA	298,248		9,812,666	0.2%
	Banca IFIS SpA	143,766		7,832,808	0.1%
	Banca Mediolanum SpA	1,460,296		12,442,400	0.2%
*	Banca Monte dei Paschi di Siena SpA	19,884		109,325	0.0%
	Banca Popolare di Sondrio SCPA	2,378,886		9,410,469	0.2%
#	Banca Profilo SpA	1,630,498		476,141	0.0%
#	Banca Sistema SpA	229,369		645,636	0.0%
#*	Banco BPM SpA	9,344,575		32,536,729	0.6%
	Banco di Desio e della Brianza SpA	224,677		640,668	0.0%
#	BasicNet SpA	184,584		757,433	0.0%
#	BE	392,662		411,539	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ITALY — (Continued)
	Biesse SpA	77,853	$	3,468,323	0.1%
#	BPER Banca	2,916,839		14,198,528	0.3%
	Brembo SpA	786,058		12,976,156	0.2%
	Brunello Cucinelli SpA	162,873		5,466,382	0.1%
#	Buzzi Unicem SpA	436,021		12,138,730	0.2%
#	Cairo Communication SpA	420,197		2,128,554	0.0%
*	Caltagirone Editore SpA	6,277		10,075	0.0%
*	Carraro SpA	144,329		743,024	0.0%
	Cembre SpA	39,607		1,106,697	0.0%
	Cementir Holding SpA	334,012		2,834,449	0.1%
	Cerved Information Solutions SpA	1,104,560		14,205,482	0.3%
	CIR-Compagnie Industriali Riunite SpA	2,176,173		3,271,056	0.1%
	Credito Emiliano SpA	500,176		4,382,351	0.1%
#*	Credito Valtellinese SpA	726,041		2,571,020	0.1%
#*	d'Amico International Shipping SA	1,300,549		395,490	0.0%
	Danieli & C Officine Meccaniche SpA	77,951		1,866,115	0.0%
	Datalogic SpA	113,651		4,509,605	0.1%
	Davide Campari-Milano SpA	573,518		4,592,016	0.1%
	De' Longhi SpA	282,509		9,259,604	0.2%
	DeA Capital SpA	617,167		952,708	0.0%
	DiaSorin SpA	119,477		10,868,237	0.2%
	Digital Bros SpA	16,321		239,037	0.0%
	Ei Towers SpA	98,236		5,742,670	0.1%
	El.En. SpA	59,126		1,673,437	0.0%
*	Elica SpA	59,393		198,908	0.0%
	Emak SpA	283,893		612,552	0.0%
	Enav SpA	130,298		620,258	0.0%
	ePrice SpA	99,656		353,173	0.0%
	ERG SpA	389,038		6,498,636	0.1%
#	Esprinet SpA	169,978		814,738	0.0%
#*	Eurotech SpA	90,850		143,571	0.0%
*	Exprivia SpA	97,125		194,250	0.0%
	Falck Renewables SpA	829,129		1,443,342	0.0%
	Fila SpA	80,884		1,755,205	0.0%
*	Fincantieri SpA	2,805,427		3,486,441	0.1%
	FinecoBank Banca Fineco SpA	2,170,080		20,296,722	0.4%
	FNM SpA	747,367		594,666	0.0%
#*	GEDI Gruppo Editoriale SpA	890,168		791,883	0.0%
	Gefran SpA	26,531		336,569	0.0%
#	Geox SpA	478,801		2,090,527	0.0%
	Gruppo MutuiOnline SpA	121,224		1,863,861	0.0%
	Hera SpA	4,361,983		14,032,813	0.3%
*	IMMSI SpA	1,202,186		895,213	0.0%
	Industria Macchine Automatiche SpA	77,886		6,984,240	0.1%
	Infrastrutture Wireless Italiane SpA	891,328		6,091,719	0.1%
#*	Intek Group SpA	1,768,514		617,960	0.0%
	Interpump Group SpA	418,191		14,075,846	0.3%
	Iren SpA	3,440,708		9,467,109	0.2%
	Italgas SpA	2,773,719		16,204,602	0.3%
	Italmobiliare SpA	33,877		911,641	0.0%
	IVS Group SA	45,930		726,828	0.0%
#*	Juventus Football Club SpA	2,763,968		2,404,901	0.1%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ITALY — (Continued)
	La Doria SpA	67,081	$	1,271,045	0.0%
#	Maire Tecnimont SpA	695,706		3,900,935	0.1%
#	MARR SpA	191,199		4,882,654	0.1%
	Massimo Zanetti Beverage Group SpA	26,781		259,103	0.0%
#*	Mediaset SpA	4,201,139		15,425,606	0.3%
	Moncler SpA	730,401		20,735,047	0.4%
#	Mondo TV SpA	43,191		311,061	0.0%
	Nice SpA	117,061		503,007	0.0%
*	Openjobmetis SpA agenzia per il lavoro	18,062		293,610	0.0%
	OVS SpA	790,707		5,912,786	0.1%
#	Panariagroup Industrie Ceramiche SpA	70,249		523,272	0.0%
	Parmalat SpA	697,227		2,639,521	0.1%
	Piaggio & C SpA	1,124,262		3,677,224	0.1%
#*	Prelios SpA	127,326		17,339	0.0%
	Prima Industrie SpA	28,822		1,414,936	0.0%
	Prysmian SpA	907,443		31,224,581	0.6%
	RAI Way SpA	313,389		1,900,216	0.0%
	Recordati SpA	29,433		1,367,832	0.0%
#	Reno de Medici SpA	840,050		585,422	0.0%
	Reply SpA	103,116		5,480,255	0.1%
#*	Retelit SpA	838,399		1,409,440	0.0%
*	Rizzoli Corriere Della Sera Mediagroup SpA	644,744		967,140	0.0%
	Sabaf SpA	37,816		922,605	0.0%
	SAES Getters SpA	43,539		1,335,198	0.0%
#*	Safilo Group SpA	176,776		1,116,535	0.0%
#*	Saipem SpA	3,176,912		13,354,362	0.2%
#	Salini Impregilo SpA	1,282,257		5,418,229	0.1%
#	Salvatore Ferragamo SpA	262,482		6,888,632	0.1%
	Saras SpA	2,990,342		7,979,853	0.2%
	Servizi Italia SpA	48,092		323,193	0.0%
	Sesa SpA	27,680		876,830	0.0%
#*	Snaitech SpA	538,898		964,437	0.0%
	Societa Cattolica di Assicurazioni SC	1,065,347		11,544,614	0.2%
	Societa Iniziative Autostradali e Servizi SpA	434,507		7,406,497	0.1%
#*	Sogefi SpA	323,297		1,581,925	0.0%
	SOL SpA	164,650		1,983,998	0.0%
	Tamburi Investment Partners SpA	462,292		3,277,474	0.1%
	Technogym SpA	317,383		3,087,874	0.1%
#*	Tiscali SpA	9,160,788		419,485	0.0%
#	Tod's SpA	68,456		4,551,719	0.1%
#*	Trevi Finanziaria Industriale SpA	509,518		336,268	0.0%
	TXT e-solutions SpA	28,342		380,386	0.0%
#	Unione di Banche Italiane SpA	6,512,755		30,567,169	0.5%
	Unipol Gruppo SpA	2,574,318		11,609,197	0.2%
	UnipolSai Assicurazioni SpA	5,399,198		12,285,572	0.2%
	Vittoria Assicurazioni SpA	142,564		1,994,440	0.0%
#*	Yoox Net-A-Porter Group SpA	314,880		11,761,915	0.2%
	Zignago Vetro SpA	148,808		1,391,500	0.0%
TOTAL ITALY				633,742,003	11.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
NETHERLANDS — (5.7%)
	Aalberts Industries NV	633,462	$	31,236,489	0.6%
#	Accell Group	150,045		4,582,398	0.1%
*	AFC Ajax NV	18,134		219,389	0.0%
	AMG Advanced Metallurgical Group NV	179,772		8,603,936	0.2%
	Amsterdam Commodities NV	105,377		2,956,075	0.1%
	APERAM SA	357,841		19,242,037	0.3%
	Arcadis NV	471,130		10,890,465	0.2%
*	Argenx SE	3,349		77,318	0.0%
	ASM International NV	339,707		22,765,126	0.4%
*	Basic-Fit NV	9,789		224,750	0.0%
	BE Semiconductor Industries NV	226,096		17,767,126	0.3%
#	Beter Bed Holding NV	125,035		2,558,508	0.1%
#	BinckBank NV	434,774		2,215,968	0.0%
	Boskalis Westminster	594,181		21,239,893	0.4%
#	Brunel International NV	138,299		2,350,964	0.0%
	Corbion NV	398,317		13,308,958	0.2%
#	Flow Traders	96,337		2,395,195	0.1%
	ForFarmers NV	26,445		323,289	0.0%
*	Fugro NV	423,589		5,460,390	0.1%
	Gemalto NV(B9MS8P5)	306,999		12,149,599	0.2%
	Gemalto NV(B011JK4)	231,595		9,166,897	0.2%
	GrandVision NV	37,306		931,082	0.0%
*	Heijmans NV	152,838		1,630,287	0.0%
	Hunter Douglas NV	19,933		1,613,996	0.0%
	IMCD Group NV	178,008		11,195,671	0.2%
	Intertrust NV	82,236		1,264,526	0.0%
	KAS Bank NV	87,922		1,019,902	0.0%
	Kendrion NV	87,547		3,828,151	0.1%
	Koninklijke BAM Groep NV	2,042,063		11,535,106	0.2%
	Koninklijke Vopak NV	447,657		19,375,983	0.3%
*	Lucas Bols NV	11,071		249,521	0.0%
	Nederland Apparatenfabriek	28,818		1,344,491	0.0%
#*	OCI NV	510,975		12,121,770	0.2%
#	Ordina NV	859,201		1,486,043	0.0%
	Philips Lighting NV	51,117		1,937,382	0.0%
#	PostNL NV	2,815,706		12,000,507	0.2%
	Refresco Group NV	279,204		6,455,544	0.1%
*	Rhi Magnesita NV	159,105		7,059,518	0.1%
	SBM Offshore NV	1,217,053		21,719,672	0.4%
	Sligro Food Group NV	159,055		7,154,049	0.1%
*	Telegraaf Media Groep NV	170,034		1,129,301	0.0%
	TKH Group NV	256,502		17,272,701	0.3%
*	TomTom NV	971,261		11,065,335	0.2%
	Van Lanschot Kempen NV	62,151		1,885,904	0.0%
	Wessanen	484,021		9,193,132	0.2%
TOTAL NETHERLANDS				354,204,344	6.1%
NORWAY — (2.2%)
	ABG Sundal Collier Holding ASA	1,986,744		1,379,139	0.0%
	AF Gruppen ASA	29,505		459,174	0.0%
#*	Akastor ASA	1,070,994		2,470,478	0.1%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
NORWAY — (Continued)
*	Aker Solutions ASA	837,596	$	4,605,627	0.1%
	American Shipping Co. ASA	234,848		660,602	0.0%
*	Archer, Ltd.	445,511		533,449	0.0%
	Arendals Fossekompani A.S.	90		36,417	0.0%
	Atea ASA	408,010		5,147,212	0.1%
	Austevoll Seafood ASA	452,355		4,527,775	0.1%
#*	Avance Gas Holding, Ltd.	358,569		866,117	0.0%
#*	Axactor AB	5,936,555		2,139,840	0.0%
	Bakkafrost P/F	201,376		8,998,283	0.2%
	Bonheur ASA	140,320		1,420,494	0.0%
	Borregaard ASA	524,093		5,051,085	0.1%
#*	BW LPG, Ltd.	498,904		1,875,547	0.0%
#*	BW Offshore, Ltd.	845,823		2,779,002	0.1%
*	DNO ASA	3,859,961		4,689,654	0.1%
#*	DOF ASA	1,898,644		200,137	0.0%
	Ekornes ASA	128,752		1,805,973	0.0%
	Entra ASA	105,617		1,453,607	0.0%
	Europris ASA	202,550		921,902	0.0%
#*	Fred Olsen Energy ASA	247,595		681,825	0.0%
#	Frontline, Ltd.	355,409		2,174,693	0.0%
#*	Funcom NV	835,906		223,156	0.0%
	Grieg Seafood ASA	283,304		2,690,059	0.1%
#*	Hexagon Composites ASA	433,619		1,458,936	0.0%
#	Hoegh LNG Holdings, Ltd.	277,724		2,199,173	0.0%
*	Kongsberg Automotive ASA	2,171,519		2,555,758	0.1%
	Kongsberg Gruppen ASA	107,905		1,969,623	0.0%
*	Kvaerner ASA	1,605,790		3,072,688	0.1%
#*	NEL ASA	3,050,254		1,041,210	0.0%
*	Next Biometrics Group A.S.	5,108		41,235	0.0%
#*	Nordic Nanovector ASA	178,487		1,828,064	0.0%
#*	Nordic Semiconductor ASA	703,953		3,529,557	0.1%
	Norway Royal Salmon ASA	50,150		972,972	0.0%
#*	Norwegian Air Shuttle A.S.	145,849		4,129,286	0.1%
*	Norwegian Finans Holding ASA	172,056		2,149,762	0.0%
	Norwegian Property ASA	359,079		441,529	0.0%
#	Ocean Yield ASA	248,488		2,215,147	0.1%
*	Odfjell Drilling, Ltd.	185,576		744,591	0.0%
	Odfjell SE Class A	134,257		468,021	0.0%
	Olav Thon Eiendomsselskap ASA	103,444		2,045,817	0.0%
	Opera Software ASA	578,820		1,658,428	0.0%
#*	Petroleum Geo-Services ASA	1,859,599		3,058,924	0.1%
#*	PhotoCure ASA	75,346		270,456	0.0%
#*	Prosafe SE	163,111		329,708	0.0%
#	Protector Forsikring ASA	366,464		3,993,513	0.1%
*	Q-Free ASA	179,836		181,327	0.0%
#*	REC Silicon ASA	13,725,666		1,795,024	0.0%
	Scatec Solar ASA	368,087		2,117,564	0.0%
	Selvaag Bolig ASA	206,250		753,073	0.0%
#*	Sevan Marine ASA	124,800		201,789	0.0%
	Skandiabanken ASA	239,796		2,431,917	0.1%
	Solon Eiendom ASA	3,712		8,503	0.0%
#*	Solstad Farstad ASA	287,823		210,027	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
NORWAY — (Continued)
#*	Songa Offshore	184,594	$	1,314,539	0.0%
	SpareBank 1 SR-Bank ASA	202,091		2,238,427	0.1%
#	Stolt-Nielsen, Ltd.	150,060		2,114,949	0.0%
	TGS NOPEC Geophysical Co. ASA	233,862		5,376,537	0.1%
	Tomra Systems ASA	626,567		8,747,105	0.2%
#	Treasure ASA	306,583		570,105	0.0%
	Veidekke ASA	441,721		4,949,532	0.1%
*	Wallenius Wilhelmsen Logistics	238,765		1,370,006	0.0%
	Wilh Wilhelmsen Holding ASA Class A	68,304		2,000,842	0.0%
#	XXL ASA	365,271		3,939,117	0.1%
TOTAL NORWAY				138,286,028	2.4%
PORTUGAL — (1.1%)
	Altri SGPS SA	566,045		3,616,046	0.1%
#*	Banco Comercial Portugues SA Class R	67,440,721		20,153,265	0.3%
	CTT-Correios de Portugal SA	894,043		5,263,825	0.1%
	EDP Renovaveis SA	182,845		1,511,871	0.0%
	Ibersol SGPS SA	30,601		443,697	0.0%
	Mota-Engil SGPS SA	850,092		3,414,019	0.1%
	Navigator Co. SA (The)	1,987,069		10,134,036	0.2%
	NOS SGPS SA	1,151,099		6,896,837	0.1%
	Novabase SGPS SA	65,729		274,212	0.0%
#	REN - Redes Energeticas Nacionais SGPS SA	1,570,356		4,986,738	0.1%
	Semapa-Sociedade de Investimento e Gestao	143,945		2,877,349	0.1%
	Sonae Capital SGPS SA	789,547		783,379	0.0%
	Sonae SGPS SA	5,843,514		6,995,772	0.1%
	Teixeira Duarte SA	762,296		281,394	0.0%
TOTAL PORTUGAL				67,632,440	1.2%
SPAIN — (5.2%)
	Acciona SA	206,462		17,095,921	0.3%
	Acerinox SA	1,009,888		14,508,951	0.3%
#*	Adveo Group International SA	104,096		333,285	0.0%
	Alantra Partners SA	30,357		437,013	0.0%
#	Almirall SA	364,691		3,529,766	0.1%
#*	Amper SA	4,762,732		1,065,068	0.0%
	Applus Services SA	726,612		10,160,715	0.2%
	Atresmedia Corp. de Medios de Comunicacion SA	523,766		5,382,153	0.1%
	Azkoyen SA	67,253		627,955	0.0%
*	Baron de Ley	13,441		1,725,380	0.0%
	Bolsas y Mercados Espanoles SHMSF SA	460,862		15,830,144	0.3%
	Cellnex Telecom SA	909,420		22,573,590	0.4%
	Cia de Distribucion Integral Logista Holdings SA	258,787		6,062,697	0.1%
	Cie Automotive SA	302,192		8,980,311	0.2%
	Construcciones y Auxiliar de Ferrocarriles SA	91,240		3,757,081	0.1%
#*	Deoleo SA	1,526,518		319,266	0.0%
#	Distribuidora Internacional de Alimentacion SA	3,849,981		18,830,191	0.3%
#*	Duro Felguera SA	489,623		302,294	0.0%
	Ebro Foods SA	394,140		9,480,447	0.2%
*	eDreams ODIGEO SA	354,196		1,097,047	0.0%
	Elecnor SA	199,318		2,816,649	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SPAIN — (Continued)
	Enagas SA	110,008	$	3,168,641	0.1%
	Ence Energia y Celulosa SA	1,118,132		6,486,196	0.1%
#	Ercros SA	815,730		2,640,222	0.0%
	Euskaltel SA	449,314		3,598,106	0.1%
	Faes Farma SA	1,544,144		5,233,027	0.1%
	Fluidra SA	301,321		3,052,377	0.1%
*	Fomento de Construcciones y Contratas SA	180,392		1,912,845	0.0%
	Grupo Catalana Occidente SA	229,314		9,652,620	0.2%
*	Grupo Empresarial San Jose SA	119,085		421,814	0.0%
#*	Grupo Ezentis SA	1,197,792		792,641	0.0%
	Iberpapel Gestion SA	42,701		1,331,871	0.0%
*	Indra Sistemas SA	761,375		10,940,915	0.2%
	Inmobiliaria Colonial Socimi SA	977,903		9,310,096	0.2%
	Inmobiliaria del Sur SA	2,902		35,826	0.0%
	Laboratorios Farmaceuticos Rovi SA	68,607		1,280,029	0.0%
#*	Liberbank SA	2,372,859		1,097,055	0.0%
	Mediaset Espana Comunicacion SA	1,104,946		12,009,628	0.2%
	Melia Hotels International SA	689,135		9,426,594	0.2%
	Miquel y Costas & Miquel SA	80,076		2,901,438	0.1%
	NH Hotel Group SA	1,501,179		9,491,129	0.2%
*	Obrascon Huarte Lain SA	926,681		5,196,583	0.1%
	Parques Reunidos Servicios Centrales SAU	8,582		139,551	0.0%
*	Pharma Mar SA	1,078,930		4,121,297	0.1%
	Prim SA	39,424		464,585	0.0%
#*	Promotora de Informaciones SA Class A	284,300		1,006,469	0.0%
	Prosegur Cia de Seguridad SA	1,535,809		11,720,403	0.2%
#*	Quabit Inmobiliaria SA	328,377		630,140	0.0%
*	Realia Business SA	1,093,972		1,400,508	0.0%
*	Sacyr SA	2,839,770		7,296,268	0.1%
	Saeta Yield SA	233,552		2,607,988	0.0%
#*	Solaria Energia y Medio Ambiente SA	340,345		565,014	0.0%
#	Talgo SA	508,464		2,493,094	0.0%
#	Tecnicas Reunidas SA	189,544		6,102,777	0.1%
#*	Tubacex SA	752,478		2,673,742	0.0%
#*	Tubos Reunidos SA	785,848		828,170	0.0%
	Vidrala SA	87,775		7,936,551	0.1%
	Viscofan SA	253,933		15,371,114	0.3%
*	Vocento SA	285,785		496,952	0.0%
	Zardoya Otis SA	962,882		10,430,267	0.2%
TOTAL SPAIN				321,180,467	5.6%
SWEDEN — (6.9%)
	AAK AB	120,395		9,730,028	0.2%
	Acando AB	615,170		2,087,259	0.0%
	AddLife AB	77,913		1,536,419	0.0%
#	AddNode Group AB	24,116		195,776	0.0%
	AddTech AB Class B	300,287		6,653,621	0.1%
	AF AB Class B	364,751		7,514,533	0.1%
#	Alimak Group AB	73,636		1,319,281	0.0%
#*	Anoto Group AB	285,221		210,887	0.0%
*	Arise AB	36,861		59,888	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWEDEN — (Continued)
#	Atrium Ljungberg AB Class B	131,402	$	2,179,712	0.0%
	Attendo AB	181,074		2,129,264	0.0%
#	Avanza Bank Holding AB	126,974		4,786,099	0.1%
*	BE Group AB	20,516		129,848	0.0%
	Beijer Alma AB	121,979		3,934,236	0.1%
#*	Beijer Electronics Group AB	80,992		311,706	0.0%
	Beijer Ref AB	72,489		2,528,983	0.1%
	Bergman & Beving AB	144,190		1,640,471	0.0%
	Besqab AB	5,872		90,882	0.0%
	Betsson AB	687,069		5,391,644	0.1%
	Bilia AB Class A	628,332		5,630,006	0.1%
	BillerudKorsnas AB	76,671		1,319,586	0.0%
	BioGaia AB Class B	94,282		3,427,630	0.1%
#*	BioInvent International AB	565,819		176,382	0.0%
	Biotage AB	305,541		2,720,369	0.1%
#	Bjorn Borg AB	95,384		380,502	0.0%
	Bonava AB	9,670		139,542	0.0%
	Bonava AB Class B	274,974		4,004,430	0.1%
	Bravida Holding AB	26,241		179,154	0.0%
	Bufab AB	70,854		846,036	0.0%
	Bulten AB	92,810		1,316,479	0.0%
	Bure Equity AB	340,717		4,211,263	0.1%
#	Byggmax Group AB	372,728		2,536,996	0.1%
	Capio AB	39,849		202,807	0.0%
	Catena AB	86,085		1,531,749	0.0%
#	Cavotec SA	49,270		154,082	0.0%
	Clas Ohlson AB Class B	213,059		3,683,528	0.1%
	Cloetta AB Class B	1,496,805		5,061,423	0.1%
*	Collector AB	70,417		743,333	0.0%
	Com Hem Holding AB	807,301		12,119,193	0.2%
	Concentric AB	370,121		6,215,480	0.1%
	Concordia Maritime AB Class B	100,760		149,787	0.0%
	Coor Service Management Holding AB	40,637		320,426	0.0%
	Corem Property Group AB Class B	10,836		64,961	0.0%
#	Dedicare AB Class B	19,158		254,211	0.0%
	Dios Fastigheter AB	623,645		4,097,509	0.1%
	Dometic Group AB	140,911		1,225,154	0.0%
#	Doro AB	155,569		900,932	0.0%
#	Duni AB	212,126		3,160,474	0.1%
#	Dustin Group AB	251,814		2,255,700	0.1%
	Eastnine AB	85,914		779,828	0.0%
	Elanders AB Class B	40,801		445,005	0.0%
#*	Eltel AB	192,132		546,398	0.0%
#	Enea AB	63,008		626,326	0.0%
#	eWork Group AB	26,325		300,284	0.0%
	Fabege AB	666,527		14,073,893	0.3%
#	Fagerhult AB	207,289		2,632,143	0.1%
	Fenix Outdoor International AG	11,946		1,425,563	0.0%
#*	Fingerprint Cards AB Class B	208,942		516,529	0.0%
	Granges AB	478,098		4,954,245	0.1%
	Gunnebo AB	208,485		859,214	0.0%
*	Haldex AB	218,762		2,430,856	0.1%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWEDEN — (Continued)
	Heba Fastighets AB Class B	42,288	$	568,716	0.0%
	Hemfosa Fastigheter AB	817,885		9,936,996	0.2%
	Hexpol AB	319,729		3,233,846	0.1%
	HIQ International AB	297,368		2,131,178	0.0%
	HMS Networks AB	42,845		742,102	0.0%
#	Hoist Finance AB	172,793		1,816,194	0.0%
	Holmen AB Class B	218,057		10,717,321	0.2%
	Hufvudstaden AB Class A	65,485		1,077,571	0.0%
#	Indutrade AB	442,678		12,275,598	0.2%
	Intrum Justitia AB	51,327		1,798,670	0.0%
	Inwido AB	344,615		3,796,687	0.1%
	ITAB Shop Concept AB Class B	115,635		908,126	0.0%
	JM AB	381,548		10,067,501	0.2%
	KappAhl AB	420,801		3,064,190	0.1%
#	Karo Pharma AB	449,268		2,131,026	0.0%
#	Kindred Group P.L.C.	1,251,492		15,982,051	0.3%
	Klovern AB Class B	3,134,236		4,219,906	0.1%
	KNOW IT AB	102,377		1,870,258	0.0%
	Kungsleden AB	1,104,294		7,880,154	0.1%
	Lagercrantz Group AB Class B	352,844		3,754,288	0.1%
	Lifco AB Class B	54,552		1,955,284	0.0%
	Lindab International AB	474,363		3,909,882	0.1%
	Loomis AB Class B	401,176		16,095,962	0.3%
#*	Medivir AB Class B	155,692		1,245,955	0.0%
#	Mekonomen AB	149,584		3,020,105	0.1%
	Modern Times Group MTG AB Class B	314,159		11,984,189	0.2%
*	Momentum Group AB Class B	144,190		1,773,682	0.0%
	MQ Holding AB	187,075		712,768	0.0%
#	Mycronic AB	464,036		5,510,995	0.1%
#	NCC AB Class B	500,321		10,794,867	0.2%
#	Nederman Holding AB	4,621		133,833	0.0%
#*	Net Insight AB Class B	735,492		461,199	0.0%
	NetEnt AB	939,633		7,446,677	0.1%
	New Wave Group AB Class B	319,163		2,115,833	0.0%
	Nobia AB	740,155		6,071,602	0.1%
#	Nobina AB	421,233		2,287,391	0.1%
	Nolato AB Class B	171,585		9,513,187	0.2%
	Nordax Group AB	72,065		427,303	0.0%
	NP3 Fastigheter AB	64,110		386,503	0.0%
	OEM International AB Class B	44,423		1,035,068	0.0%
#	Opus Group AB	1,324,595		980,815	0.0%
*	Orexo AB	34,962		199,049	0.0%
	Oriflame Holding AG	237,287		8,548,725	0.2%
	Pandox AB	47,411		864,149	0.0%
	Peab AB	763,413		7,408,187	0.1%
#	Pricer AB Class B	832,220		904,712	0.0%
	Proact IT Group AB	50,363		1,173,098	0.0%
#	Probi AB	1,642		68,255	0.0%
#*	Qliro Group AB	795,678		1,738,864	0.0%
#	Ratos AB Class B	1,481,561		7,111,345	0.1%
#*	RaySearch Laboratories AB	129,144		2,862,521	0.1%
#	Recipharm AB Class B	167,002		2,043,294	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWEDEN — (Continued)
#	Resurs Holding AB	10,554	$	73,074	0.0%
#	Rottneros AB	484,842		434,344	0.0%
	Saab AB Class B	17,602		899,256	0.0%
	Sagax AB Class B	140,003		1,700,225	0.0%
#*	SAS AB	755,444		2,337,092	0.1%
	Scandi Standard AB	264,907		1,873,499	0.0%
	Scandic Hotels Group AB	117,677		1,518,020	0.0%
	Sectra AB Class B	66,839		1,308,985	0.0%
	Semcon AB	103,281		616,686	0.0%
#*	Sensys Gatso Group AB(7035470)	1,035,356		89,641	0.0%
#*	Sensys Gatso Group AB(BF8NVN5)	295,814		24,911	0.0%
	SkiStar AB	146,905		3,210,925	0.1%
	Sweco AB Class B	325,168		6,953,409	0.1%
	Swedol AB Class B	112,019		461,650	0.0%
	Systemair AB	82,114		1,241,910	0.0%
	Thule Group AB	425,212		9,510,944	0.2%
#*	Tobii AB	117,872		605,175	0.0%
	Troax Group AB	9,418		318,304	0.0%
	VBG Group AB Class B	15,766		282,794	0.0%
	Victoria Park AB Class B	609,047		2,247,439	0.0%
#	Vitrolife AB	71,728		5,725,692	0.1%
#	Wallenstam AB Class B	902,003		8,424,206	0.2%
	Wihlborgs Fastigheter AB	401,999		9,544,362	0.2%
TOTAL SWEDEN				429,210,166	7.5%
SWITZERLAND — (10.6%)
	Allreal Holding AG	74,900		12,518,741	0.2%
*	Alpiq Holding AG	6,898		442,557	0.0%
	ALSO Holding AG	30,442		4,120,796	0.1%
#	ams AG	316,689		28,893,663	0.5%
	APG SGA SA	7,581		3,071,144	0.1%
#*	Arbonia AG	241,026		4,216,570	0.1%
#	Aryzta AG	441,840		14,028,474	0.2%
	Ascom Holding AG	208,330		4,769,006	0.1%
	Autoneum Holding AG	16,300		4,403,308	0.1%
	Bachem Holding AG Class B	23,344		2,948,756	0.1%
	Baloise Holding AG	2,815		443,805	0.0%
	Bank Cler AG	30,941		1,311,957	0.0%
	Banque Cantonale de Geneve	8,382		1,350,871	0.0%
	Banque Cantonale du Jura SA	4,442		265,784	0.0%
	Banque Cantonale Vaudoise	11,753		8,450,925	0.2%
	Belimo Holding AG	2,185		9,375,135	0.2%
	Bell Food Group AG	5,331		2,302,050	0.0%
	Bellevue Group AG	53,293		1,238,903	0.0%
#	Berner Kantonalbank AG	24,327		4,390,215	0.1%
	BFW Liegenschaften AG	1,527		67,788	0.0%
	BKW AG	70,552		4,123,913	0.1%
	Bobst Group SA	49,320		5,272,094	0.1%
	Bossard Holding AG Class A	33,475		7,912,202	0.1%
	Bucher Industries AG	37,564		14,697,722	0.3%
#	Burckhardt Compression Holding AG	15,773		4,698,962	0.1%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWITZERLAND — (Continued)
	Burkhalter Holding AG	20,988	$	2,514,104	0.0%
	Calida Holding AG	25,084		930,368	0.0%
	Carlo Gavazzi Holding AG	2,027		677,030	0.0%
	Cembra Money Bank AG	163,046		14,606,366	0.3%
	Cham Paper Holding AG	1,925		780,987	0.0%
*	Cicor Technologies, Ltd.	10,854		559,008	0.0%
	Cie Financiere Tradition SA	9,836		936,221	0.0%
	Coltene Holding AG	20,595		2,044,041	0.0%
	Conzzeta AG	7,330		7,200,371	0.1%
	Daetwyler Holding AG	39,273		6,585,819	0.1%
	DKSH Holding AG	160,246		13,443,220	0.2%
	dormakaba Holding AG	16,675		16,504,449	0.3%
*	Dottikon Es Holding AG	126		97,275	0.0%
	Edmond de Rothschild Suisse SA	15		277,427	0.0%
	EFG International AG	495,370		4,533,180	0.1%
	Emmi AG	12,679		7,915,588	0.1%
	Energiedienst Holding AG	68,912		1,785,644	0.0%
#*	Evolva Holding SA	1,761,042		617,862	0.0%
	Feintool International Holding AG	7,815		928,376	0.0%
	Flughafen Zurich AG	52,924		11,509,684	0.2%
	Forbo Holding AG	6,853		10,361,433	0.2%
	GAM Holding AG	1,035,728		16,144,137	0.3%
	Georg Fischer AG	24,221		29,841,965	0.5%
	Gurit Holding AG	2,361		2,715,070	0.1%
	Helvetia Holding AG	37,722		20,278,728	0.4%
	Hiag Immobilien Holding AG	6,276		726,780	0.0%
#	HOCHDORF Holding AG	5,428		1,508,174	0.0%
	Huber & Suhner AG	72,236		3,911,504	0.1%
*	Idorsia, Ltd.	28,024		552,294	0.0%
	Implenia AG	85,074		5,373,701	0.1%
	Inficon Holding AG	9,382		5,827,226	0.1%
	Interroll Holding AG	3,192		4,563,002	0.1%
	Intershop Holding AG	8,178		4,016,374	0.1%
#	Jungfraubahn Holding AG	5,914		753,227	0.0%
	Kardex AG	35,722		4,253,396	0.1%
	Komax Holding AG	19,969		5,716,179	0.1%
#	Kudelski SA	197,997		2,431,135	0.0%
*	Lastminute.com NV	10,907		149,243	0.0%
	LEM Holding SA	3,773		4,937,352	0.1%
	Liechtensteinische Landesbank AG	37,816		1,885,604	0.0%
	Logitech International SA	744,066		26,607,319	0.5%
	Luzerner Kantonalbank AG	16,907		7,614,823	0.1%
	MCH Group AG	4,236		287,668	0.0%
	Metall Zug AG Class B	903		3,468,870	0.1%
#*	Meyer Burger Technology AG	2,370,456		4,419,764	0.1%
#	Mobilezone Holding AG	133,170		1,661,900	0.0%
	Mobimo Holding AG	35,469		8,962,611	0.2%
	OC Oerlikon Corp. AG	1,167,818		18,735,338	0.3%
#*	Orascom Development Holding AG	60,240		723,484	0.0%
#	Orell Fuessli Holding AG	5,028		620,969	0.0%
	Orior AG	30,001		2,346,341	0.0%
#	Panalpina Welttransport Holding AG	61,671		8,475,033	0.2%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWITZERLAND — (Continued)
#	Phoenix Mecano AG	3,366	$	1,958,264	0.0%
	Plazza AG Class A	6,297		1,462,526	0.0%
	PSP Swiss Property AG	226,220		19,911,470	0.3%
	Rieter Holding AG	18,187		4,252,988	0.1%
	Romande Energie Holding SA	2,625		2,976,080	0.1%
#*	Schaffner Holding AG	2,950		936,808	0.0%
*	Schmolz + Bickenbach AG	3,071,012		2,832,485	0.1%
	Schweiter Technologies AG	5,490		6,734,854	0.1%
	SFS Group AG	63,754		7,557,039	0.1%
	Siegfried Holding AG	21,530		6,734,085	0.1%
	St Galler Kantonalbank AG	11,934		5,388,311	0.1%
	Sulzer AG	106,641		13,661,506	0.2%
	Sunrise Communications Group AG	191,584		15,937,829	0.3%
	Swiss Prime Site AG	118,681		10,134,131	0.2%
	Swissquote Group Holding SA	49,832		1,731,035	0.0%
	Tamedia AG	14,493		2,010,520	0.0%
	Tecan Group AG	49,581		10,486,768	0.2%
	Temenos Group AG	307,521		35,509,903	0.6%
	Thurgauer Kantonalbank	2,498		246,507	0.0%
	u-blox Holding AG	30,554		5,999,072	0.1%
	Valiant Holding AG	101,920		10,491,693	0.2%
	Valora Holding AG	15,777		5,056,124	0.1%
	VAT Group AG	2,882		375,212	0.0%
	Vaudoise Assurances Holding SA	5,756		3,050,163	0.1%
	Vetropack Holding AG	1,144		2,176,376	0.0%
#*	Von Roll Holding AG	293,368		438,709	0.0%
	Vontobel Holding AG	146,403		9,110,521	0.2%
	VP Bank AG	13,977		1,920,091	0.0%
	VZ Holding AG	12,934		4,468,735	0.1%
	Walliser Kantonalbank	17,758		1,674,720	0.0%
#	Walter Meier AG	22,913		943,670	0.0%
#	Ypsomed Holding AG	16,382		2,852,122	0.1%
#	Zehnder Group AG	63,176		2,317,860	0.0%
#	Zug Estates Holding AG Class B	996		1,753,103	0.0%
	Zuger Kantonalbank AG	663		3,522,283	0.1%
TOTAL SWITZERLAND				656,246,568	11.4%
TOTAL COMMON STOCKS				5,675,367,864	98.7%
PREFERRED STOCKS — (0.8%)
GERMANY — (0.8%)
	Biotest AG	89,937		2,375,268	0.0%
	Draegerwerk AG & Co. KGaA	40,848		4,694,172	0.1%
#	Fuchs Petrolub SE	200,558		11,293,910	0.2%
	Jungheinrich AG	245,511		11,181,066	0.2%
#	Sartorius AG	104,644		9,771,251	0.2%
	Sixt SE	74,833		4,854,721	0.1%
	STO SE & Co. KGaA	8,091		1,219,980	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
	Villeroy & Boch AG	43,697	$	1,021,942	0.0%
TOTAL GERMANY				46,412,310	0.8%
TOTAL PREFERRED STOCKS				46,412,310	0.8%
RIGHTS/WARRANTS — (0.0%)
AUSTRIA — (0.0%)
*	Intercell AG Rights 05/16/13	254,689		—	0.0%
FRANCE — (0.0%)
#*	Archos Warrants 12/31/18	138,714		2,585	0.0%
*	Maurel et prom Rights 12/31/00	844,597		—	0.0%
TOTAL FRANCE				2,585	0.0%
ISRAEL — (0.0%)
#*	AIirport City, Ltd. Rights 10/30/17	2		10	0.0%
SPAIN — (0.0%)
*	Grupo Ezentis SA Rights 10/19/17	156,600		709	0.0%
#*	Liberbank SA Rights 11/10/17	2,372,859		854,083	0.0%
*	Papeles y Cartones de Europa SA Rights 11/16/17	302,916		124,204	0.0%
TOTAL SPAIN				978,996	0.0%
SWITZERLAND — (0.0%)
*	Evolva Holding, Ltd. Rights 11/08/17	1,761,042		105,912	0.0%
TOTAL RIGHTS/WARRANTS				1,087,503	0.0%
TOTAL INVESTMENT SECURITIES				5,722,867,677
			Value†
SECURITIES LENDING COLLATERAL — (7.6%)
§@	DFA Short Term Investment Fund	40,695,303		470,885,347	8.2%
TOTAL INVESTMENTS — (100.0%) (Cost $4,482,764,364)			$	6,193,753,024	107.7%

The Continental Small Company Series
continued

Summary of the Series' investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3	Total
Common Stocks
Austria	—		$	197,245,523	—	$	197,245,523
Belgium	$	2,677,761		256,340,135	—		259,017,896
Denmark	8,784,672			287,021,639	—		295,806,311
Finland	—			371,832,932	—		371,832,932
France	32,312			798,172,400	—		798,204,712
Germany	—			919,223,637	—		919,223,637
Hong Kong	—			3,147,046	—		3,147,046
Ireland	—			76,737,827	—		76,737,827
Israel	—			153,649,964	—		153,649,964
Italy	109,325			633,632,678	—		633,742,003
Netherlands	—			354,204,344	—		354,204,344
Norway	—			138,286,028	—		138,286,028
Portugal	—			67,632,440	—		67,632,440
Spain	—			321,180,467	—		321,180,467
Sweden	24,911			429,185,255	—		429,210,166
Switzerland	—			656,246,568	—		656,246,568
Preferred Stocks
Germany	—			46,412,310	—		46,412,310
Rights/Warrants
France	—			2,585	—		2,585
Israel	—			10	—		10
Spain	—			978,996	—		978,996
Switzerland	—			105,912	—		105,912
Securities Lending Collateral	—			470,885,347	—		470,885,347
TOTAL	$	11,628,981	$	6,182,124,043	—	$	6,193,753,024

THE CANADIAN SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

October 31, 2017

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (84.8%)
Consumer Discretionary — (7.6%)
#	Aimia, Inc.	711,317	$	1,394,955	0.1%
#	AutoCanada, Inc.	178,738		3,229,504	0.3%
#	BMTC Group, Inc.	17,481		179,539	0.0%
#	BRP, Inc.	204,351		6,868,196	0.6%
#	Cara Operations, Ltd.	72,577		1,485,744	0.1%
#	Cineplex, Inc.	293,783		8,885,678	0.7%
	Cogeco Communications, Inc.	76,656		5,511,080	0.5%
	Cogeco, Inc.	38,868		2,649,447	0.2%
	Corus Entertainment, Inc. Class B	717,638		6,658,497	0.6%
#	DHX Media, Ltd.(BRF12N3)	363,010		1,207,126	0.1%
#	DHX Media, Ltd.(BRF12P5)	479,925		1,581,026	0.1%
	Dorel Industries, Inc. Class B	186,580		4,865,166	0.4%
	Enercare, Inc.	592,559		9,236,774	0.8%
#	Gamehost, Inc.	59,473		502,485	0.0%
*	Glacier Media, Inc.	171,625		75,828	0.0%
#	goeasy, Ltd.	50,633		1,226,480	0.1%
*	Great Canadian Gaming Corp.	333,138		7,917,224	0.7%
#	Hudson's Bay Co.	417,486		3,647,056	0.3%
	Imvescor Restaurant Group, Inc.	49,700		152,170	0.0%
*	Indigo Books & Music, Inc.	2,402		34,445	0.0%
*	Intertain Group, Ltd.	6,600		75,255	0.0%
	Leon's Furniture, Ltd.	140,175		2,126,366	0.2%
	Martinrea International, Inc.	547,048		5,364,047	0.5%
	MTY Food Group, Inc.	103,863		4,100,258	0.3%
#	Pizza Pizza Royalty Corp.	163,112		2,169,601	0.2%
	Reitmans Canada, Ltd. Class A	260,312		936,243	0.1%
	Sleep Country Canada Holdings, Inc.	144,600		4,289,467	0.4%
*	Spin Master Corp.	57,700		2,136,076	0.2%
#*	Stars Group, Inc. (The)	545,738		10,985,827	0.9%
#	Torstar Corp. Class B	393,289		411,550	0.0%
*	TVA Group, Inc. Class B	7,000		20,564	0.0%
	Uni-Select, Inc.	255,631		5,524,372	0.5%
#*	Yellow Pages, Ltd.	215,283		1,381,709	0.1%
	Zenith Capital Corp.	111,820		7,021	0.0%
Total Consumer Discretionary				106,836,776	9.0%
Consumer Staples — (4.2%)
#	AGT Food & Ingredients, Inc.	115,523		2,071,194	0.2%
	Andrew Peller, Ltd. Class A	84,800		811,782	0.1%
	Clearwater Seafoods, Inc.	97,157		672,515	0.1%
#*	Colabor Group, Inc.	67,800		40,466	0.0%
	Corby Spirit and Wine, Ltd.	73,867		1,253,924	0.1%
	Cott Corp.(2228952)	845,649		12,677,197	1.1%
	Cott Corp.(22163N106)	96,682		1,450,230	0.1%
	High Liner Foods, Inc.	100,091		1,102,467	0.1%
	Jean Coutu Group PJC, Inc. (The) Class A	416,076		7,895,156	0.7%
	KP Tissue, Inc.	7,400		86,327	0.0%
	Lassonde Industries, Inc. Class A	5,000		949,539	0.1%
#	Liquor Stores N.A., Ltd.	195,311		1,485,157	0.1%
	Maple Leaf Foods, Inc.	73,345		1,902,274	0.1%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
*	Neptune Technologies & Bioressources, Inc.	22,102	$	20,730	0.0%
	North West Co., Inc. (The)	316,536		7,723,861	0.6%
	Premium Brands Holdings Corp.	150,162		12,151,703	1.0%
#	Rogers Sugar, Inc.	575,336		2,831,861	0.2%
#*	SunOpta, Inc.	388,350		3,612,278	0.3%
Total Consumer Staples				58,738,661	4.9%
Energy — (18.4%)
*	Advantage Oil & Gas, Ltd.	1,154,775		6,113,567	0.5%
#*	Africa Oil Corp.	1,016,099		1,283,809	0.1%
	AKITA Drilling, Ltd. Class A	40,600		221,237	0.0%
#*	Athabasca Oil Corp.	3,163,297		2,844,295	0.2%
#*	Baytex Energy Corp.	1,110,006		3,054,431	0.3%
#*	Bellatrix Exploration, Ltd.	325,319		779,191	0.1%
	Birchcliff Energy, Ltd.	1,221,735		4,971,792	0.4%
#*	BlackPearl Resources, Inc.	1,484,501		1,254,249	0.1%
	Bonavista Energy Corp.	1,375,841		2,922,102	0.2%
#	Bonterra Energy Corp.	155,295		1,828,487	0.2%
#*	Calfrac Well Services, Ltd.	874,615		3,525,307	0.3%
#*	Canacol Energy, Ltd.	921,342		2,928,068	0.2%
#	Cardinal Energy, Ltd.	179,790		668,933	0.1%
*	Cequence Energy, Ltd.	499,530		48,400	0.0%
	CES Energy Solutions Corp.	732,042		3,943,641	0.3%
#*	Chinook Energy, Inc.	496,199		123,079	0.0%
#	Cona Resources, Ltd.	195,900		324,956	0.0%
*	Crew Energy, Inc.	1,228,076		4,159,904	0.4%
#*	Delphi Energy Corp.	1,041,539		968,798	0.1%
#*	Denison Mines Corp.	3,295,282		1,353,771	0.1%
	Enerflex, Ltd.	567,158		7,715,389	0.7%
#*	Energy Fuels, Inc.	397,690		548,708	0.0%
	Enerplus Corp.	1,353,175		12,408,387	1.0%
	Ensign Energy Services, Inc.	812,827		4,183,529	0.4%
*	Epsilon Energy, Ltd.	312,073		774,075	0.1%
#*	Essential Energy Services Trust	1,034,741		473,217	0.0%
#*	Fission Uranium Corp.	1,445,000		627,238	0.1%
#	Freehold Royalties, Ltd.	552,172		6,753,953	0.6%
*	Frontera Energy Corp.	17,700		528,215	0.0%
*	GASFRAC Energy Services, Inc.	91,560		9	0.0%
*	Gear Energy, Ltd.	518,000		321,215	0.0%
	Gibson Energy, Inc.	757,539		10,299,383	0.9%
*	Gran Tierra Energy, Inc.	2,720,150		5,924,829	0.5%
#	Granite Oil Corp.	214,508		571,977	0.1%
	High Arctic Energy Services, Inc.	15,400		51,449	0.0%
*	Kelt Exploration, Ltd.	1,174,340		6,435,613	0.5%
*	Manitok Energy, Inc.	13,292		618	0.0%
#*	MEG Energy Corp.	1,435,543		6,375,987	0.5%
	Mullen Group, Ltd.	578,881		7,596,663	0.6%
#*	Newalta Corp.	579,398		390,726	0.0%
	North American Energy Partners, Inc.	150,534		606,757	0.1%
*	NuVista Energy, Ltd.	1,310,626		8,147,601	0.7%
#*	Obsidian Energy, Ltd.	3,864,779		4,104,137	0.3%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Energy — (Continued)
#*	Painted Pony Energy, Ltd.	540,861	$	1,136,139	0.1%
#*	Paramount Resources, Ltd. Class A	498,213		8,526,895	0.7%
*	Parex Resources, Inc.	826,302		10,990,886	0.9%
	Parkland Fuel Corp.	542,825		11,023,963	0.9%
	Pason Systems, Inc.	364,652		5,294,110	0.4%
	Pembina Pipeline Corp.	448,593		14,830,223	1.2%
#*	Pengrowth Energy Corp.	3,067,669		3,447,888	0.3%
#*	Perpetual Energy, Inc.	41,575		39,316	0.0%
*	Petrus Resources, Ltd.	19,582		34,303	0.0%
#	Peyto Exploration & Development Corp.	401,127		5,472,316	0.5%
*	PHX Energy Services Corp.	241,574		421,317	0.0%
#*	Pine Cliff Energy, Ltd.	496,700		196,355	0.0%
#*	Precision Drilling Corp.	1,596,622		4,789,495	0.4%
#*	Pulse Seismic, Inc.	296,139		766,688	0.1%
#*	Questerre Energy Corp. Class A	778,960		446,811	0.0%
*	Raging River Exploration, Inc.	963,651		5,684,354	0.5%
#*	RMP Energy, Inc.	1,197,822		696,354	0.1%
#	Secure Energy Services, Inc.	998,136		6,506,723	0.6%
	ShawCor, Ltd.	256,281		5,554,311	0.5%
#*	Spartan Energy Corp.	694,048		3,674,402	0.3%
*	Strad Energy Services, Ltd.	19,447		25,324	0.0%
#	Surge Energy, Inc.	1,856,256		3,107,909	0.3%
#*	Tamarack Valley Energy, Ltd.	661,883		1,549,404	0.1%
	TORC Oil & Gas, Ltd.	912,512		4,802,695	0.4%
	Total Energy Services, Inc.	275,579		3,244,748	0.3%
#*	TransGlobe Energy Corp.	516,845		873,360	0.1%
#*	Trican Well Service, Ltd.	1,964,140		7,383,986	0.6%
*	Trinidad Drilling, Ltd.	1,506,484		1,985,135	0.2%
#*	Western Energy Services Corp.	548,797		523,231	0.0%
#	Whitecap Resources, Inc.	1,837,501		13,189,101	1.1%
*	Xtreme Drilling Corp.	99,561		162,063	0.0%
*	Yangarra Resources, Ltd.	394,000		1,206,341	0.1%
	ZCL Composites, Inc.	176,127		1,856,699	0.2%
Total Energy				257,600,537	21.6%
Financials — (6.5%)
	AGF Management, Ltd. Class B	451,269		2,906,787	0.2%
#	Alaris Royalty Corp.	209,645		3,321,559	0.3%
#	Callidus Capital Corp.	79,720		674,169	0.1%
	Canaccord Genuity Group, Inc.	763,165		2,537,771	0.2%
#	Canadian Western Bank	528,680		14,892,048	1.2%
#	Chesswood Group, Ltd.	75,642		755,189	0.1%
	Clairvest Group, Inc.	1,900		53,755	0.0%
#	Clarke, Inc.	17,242		133,649	0.0%
	E-L Financial Corp., Ltd.	3,778		2,421,862	0.2%
#*	Echelon Financial Holdings, Inc.	14,650		151,201	0.0%
	ECN Capital Corp.	2,146,106		7,036,686	0.6%
	Element Fleet Management Corp.	90,300		695,746	0.1%
#	Equitable Group, Inc.	71,024		3,303,186	0.3%
*	Equity Financial Holdings, Inc.	800		6,071	0.0%
	Fiera Capital Corp.	261,337		2,848,150	0.2%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Firm Capital Mortgage Investment Corp.	132,518	$	1,304,533	0.1%
#	First National Financial Corp.	95,537		2,125,348	0.2%
#	Genworth MI Canada, Inc.	322,580		10,024,209	0.8%
#	Gluskin Sheff + Associates, Inc.	196,696		2,460,796	0.2%
*	GMP Capital, Inc.	315,787		643,764	0.1%
	Guardian Capital Group, Ltd. Class A	43,097		851,851	0.1%
#	Home Capital Group, Inc.	436,558		4,723,936	0.4%
*	Kingsway Financial Services, Inc.	13,070		71,425	0.0%
#	Laurentian Bank of Canada	221,346		10,294,365	0.9%
#	Sprott, Inc.	1,478,288		2,440,704	0.2%
#*	Street Capital Group, Inc.	120,227		114,626	0.0%
#	Timbercreek Financial Corp.	304,346		2,238,775	0.2%
	TMX Group, Ltd.	218,158		11,919,973	1.0%
*	Trisura Group, Ltd.	6,511		145,603	0.0%
Total Financials				91,097,737	7.7%
Health Care — (1.4%)
#*	CRH Medical Corp.	470,396		1,104,798	0.1%
#	Extendicare, Inc.	577,071		4,191,268	0.4%
*	Knight Therapeutics, Inc.	733,325		4,763,401	0.4%
#	Medical Facilities Corp.	188,969		2,060,921	0.2%
*	Novelion Therapeutics, Inc.	43,802		206,746	0.0%
#	Sienna Senior Living, Inc.	300,715		4,142,086	0.3%
#*	Theratechnologies, Inc.	375,201		2,224,857	0.2%
Total Health Care				18,694,077	1.6%
Industrials — (10.7%)
	Aecon Group, Inc.	432,401		6,512,326	0.5%
	Ag Growth International, Inc.	89,741		3,512,844	0.3%
	Algoma Central Corp.	32,090		324,606	0.0%
*	ATS Automation Tooling Systems, Inc.	526,630		6,061,899	0.5%
#	Badger Daylighting, Ltd.	212,581		4,839,550	0.4%
#	Bird Construction, Inc.	261,544		1,982,715	0.2%
#	Black Diamond Group, Ltd.	335,792		559,610	0.0%
	Calian Group, Ltd.	29,155		750,740	0.1%
#	CanWel Building Materials Group, Ltd.	247,822		1,273,591	0.1%
	Cargojet, Inc.	16,249		679,508	0.1%
	Cervus Equipment Corp.	40,197		472,044	0.0%
#*	DIRTT Environmental Solutions	365,368		1,804,042	0.2%
#	Exchange Income Corp.	89,484		2,406,864	0.2%
#	Exco Technologies, Ltd.	166,465		1,350,972	0.1%
*	GDI Integrated Facility Services, Inc.	700		8,345	0.0%
*	Heroux-Devtek, Inc.	180,454		2,058,974	0.2%
#*	HNZ Group, Inc.	23,088		331,976	0.0%
#	Horizon North Logistics, Inc.	870,644		1,181,015	0.1%
*	IBI Group, Inc.	85,500		497,054	0.0%
#	K-Bro Linen, Inc.	44,753		1,354,974	0.1%
	Magellan Aerospace Corp.	88,776		1,329,472	0.1%
	Maxar Technologies, Ltd.	184,072		11,644,148	1.0%
	Morneau Shepell, Inc.	306,811		5,110,742	0.4%
#*	NAPEC, Inc.	64,900		64,895	0.0%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	New Flyer Industries, Inc.	253,571	$	10,759,225	0.9%
#	Richelieu Hardware, Ltd.	280,555		7,348,232	0.6%
	Rocky Mountain Dealerships, Inc.	99,555		907,501	0.1%
	Russel Metals, Inc.	356,806		7,976,347	0.7%
#	Savaria Corp.	94,100		1,161,206	0.1%
#	Stantec, Inc.	522,729		14,935,114	1.3%
	Stuart Olson, Inc.	132,859		548,902	0.0%
#	Student Transportation, Inc.	536,843		3,141,745	0.3%
	TFI International, Inc.	475,353		11,473,911	1.0%
	Toromont Industries, Ltd.	425,013		18,735,361	1.6%
	Transcontinental, Inc. Class A	366,376		8,133,485	0.7%
	Wajax Corp.	133,338		2,424,703	0.2%
	Westshore Terminals Investment Corp.	319,049		6,086,192	0.5%
Total Industrials				149,744,830	12.6%
Information Technology — (3.8%)
*	5N Plus, Inc.	406,229		969,836	0.1%
#	Absolute Software Corp.	235,588		1,524,812	0.1%
#*	Avigilon Corp.	253,094		3,752,956	0.3%
*	BSM Technologies, Inc.	9,200		8,985	0.0%
*	Celestica, Inc.(2263362)	712,858		7,155,655	0.6%
*	Celestica, Inc.(15101Q108)	36,408		365,900	0.0%
	Computer Modelling Group, Ltd.	446,452		3,540,194	0.3%
*	Descartes Systems Group, Inc. (The)	393,056		11,394,694	1.0%
	Enghouse Systems, Ltd.	108,457		4,583,424	0.4%
	Evertz Technologies, Ltd.	155,353		2,271,109	0.2%
#*	EXFO, Inc.	60,487		233,490	0.0%
*	Kinaxis, Inc.	87,472		4,361,735	0.4%
#	Mediagrif Interactive Technologies, Inc.	21,070		219,666	0.0%
*	Mitel Networks Corp.	573,324		4,928,425	0.4%
*	Points International, Ltd.	36,359		417,110	0.0%
	Pure Technologies, Ltd.	174,445		723,417	0.1%
	Quarterhill, Inc.	785,133		1,484,943	0.1%
#*	Sierra Wireless, Inc.	188,147		4,208,916	0.4%
*	Solium Capital, Inc.	108,306		904,999	0.1%
#*	UrtheCast Corp.	516,214		430,145	0.0%
	Vecima Networks, Inc.	6,059		46,730	0.0%
Total Information Technology				53,527,141	4.5%
Materials — (24.6%)
#	Acadian Timber Corp.	58,238		884,336	0.1%
#	AirBoss of America Corp.	100,662		901,206	0.1%
#*	Alacer Gold Corp.	1,793,848		2,794,849	0.2%
	Alamos Gold, Inc. Class A	1,820,687		11,530,125	1.0%
*	Alio Gold, Inc.	200,218		794,604	0.1%
#	Altius Minerals Corp.	218,100		2,016,846	0.2%
#*	Americas Silver Corp.	146,612		595,495	0.1%
*	Amerigo Resources, Ltd.	378,500		240,578	0.0%
*	Argonaut Gold, Inc.	1,073,820		1,939,385	0.2%
#*	Asanko Gold, Inc.	746,275		694,155	0.1%
*	AuRico Metals, Inc.	861,583		868,195	0.1%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
*	B2Gold Corp.	5,370,434	$	13,653,999	1.1%
#*	Balmoral Resources, Ltd.	11,000		4,178	0.0%
	Caledonia Mining Corp. P.L.C.	540		2,947	0.0%
*	Canfor Corp.	502,970		10,004,039	0.8%
	Canfor Pulp Products, Inc.	217,215		2,372,343	0.2%
#*	Capstone Mining Corp.	3,069,355		3,497,366	0.3%
	Cascades, Inc.	456,893		5,503,540	0.5%
*	Centerra Gold, Inc.	1,552,135		10,539,264	0.9%
#*	China Gold International Resources Corp., Ltd.	1,592,861		2,469,361	0.2%
#*	Continental Gold, Inc.	963,348		2,314,843	0.2%
#*	Copper Mountain Mining Corp.	907,730		1,097,635	0.1%
*	Detour Gold Corp.	965,461		10,289,969	0.9%
	Dominion Diamond Corp.(B95LX89)	554,107		7,885,749	0.7%
#	Dominion Diamond Corp.(257287102)	20,700		294,975	0.0%
*	Dundee Precious Metals, Inc.	1,421,222		2,842,224	0.2%
#*	Eastmain Resources, Inc.	86,500		19,779	0.0%
	Eldorado Gold Corp.	4,240,346		5,324,673	0.4%
*	Endeavour Mining Corp.	351,229		6,242,673	0.5%
#*	Endeavour Silver Corp.	270,952		560,764	0.0%
#*	First Majestic Silver Corp.	779,250		5,248,961	0.4%
*	First Mining Finance Corp.	61,500		29,079	0.0%
#*	Fortress Paper, Ltd. Class A	16,706		54,128	0.0%
*	Fortuna Silver Mines, Inc.	1,032,791		4,346,993	0.4%
#*	Golden Star Resources, Ltd.	2,318,527		1,815,140	0.2%
#*	Great Panther Silver, Ltd.	834,051		1,021,472	0.1%
*	Guyana Goldfields, Inc.	993,644		3,542,952	0.3%
	HudBay Minerals, Inc.	1,477,086		10,979,966	0.9%
*	IAMGOLD Corp.	3,203,040		17,578,113	1.5%
#*	Imperial Metals Corp.	281,160		647,272	0.1%
*	Interfor Corp.	467,908		7,616,517	0.6%
*	International Tower Hill Mines, Ltd.	13,001		5,543	0.0%
	Intertape Polymer Group, Inc.	333,777		4,926,063	0.4%
*	Ivanhoe Mines, Ltd. Class A	1,466,561		5,308,767	0.4%
	Kirkland Lake Gold, Ltd.	913,033		10,707,844	0.9%
#*	Klondex Mines, Ltd.	953,463		2,756,699	0.2%
#	Labrador Iron Ore Royalty Corp.	417,556		6,758,057	0.6%
#*	Leagold Mining Corp.	52,342		125,368	0.0%
#*	Liberty Gold Corp.	222,861		82,055	0.0%
	Lucara Diamond Corp.	1,565,665		2,730,599	0.2%
#*	Lundin Gold, Inc.	44,800		171,546	0.0%
#*	Lydian International, Ltd.	57,514		15,826	0.0%
*	Major Drilling Group International, Inc.	606,412		3,248,048	0.3%
#	Mandalay Resources Corp.	1,371,135		313,530	0.0%
#*	Midas Gold Corp.	293,884		177,684	0.0%
*	Nautilus Minerals, Inc.	227,078		36,963	0.0%
	Nevsun Resources, Ltd.	1,898,731		4,474,182	0.4%
*	New Gold, Inc.	3,504,251		11,598,443	1.0%
*	Nighthawk Gold Corp.	17,500		9,495	0.0%
	Norbord, Inc.	210,780		7,597,297	0.6%
#	OceanaGold Corp.	3,671,560		9,846,987	0.8%
*	Orbite Technologies, Inc.	73,500		808	0.0%
#	Osisko Gold Royalties, Ltd.	739,341		9,306,945	0.8%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Pan American Silver Corp.	847,173	$	13,842,653	1.2%
#*	Platinum Group Metals, Ltd.	67,631		27,260	0.0%
#*	PolyMet Mining Corp.	613,665		380,538	0.0%
*	Premier Gold Mines, Ltd.	1,041,449		2,768,909	0.2%
#*	Pretium Resources, Inc.	293,903		3,312,287	0.3%
*	Primero Mining Corp.	221,467		14,592	0.0%
#*	RB Energy, Inc.	396,013		396	0.0%
*	Richmont Mines, Inc.	398,871		3,472,073	0.3%
*	Roxgold, Inc.	146,200		124,657	0.0%
#*	Royal Nickel Corp.	385,500		53,787	0.0%
#*	Sabina Gold & Silver Corp.	1,545,521		2,551,709	0.2%
#*	Sandstorm Gold, Ltd.	1,124,852		4,847,824	0.4%
#*	Seabridge Gold, Inc.	98,335		1,330,850	0.1%
*	SEMAFO, Inc.	1,960,761		4,924,320	0.4%
#*	Sherritt International Corp.	2,539,461		2,598,317	0.2%
#*	Sprott Resource Holdings, Inc.	597,898		67,200	0.0%
*	SSR Mining, Inc.	726,305		6,975,365	0.6%
	Stella-Jones, Inc.	241,271		9,425,671	0.8%
#*	Stornoway Diamond Corp.	1,608,797		810,571	0.1%
#	Supremex, Inc.	4,991		15,397	0.0%
#	Tahoe Resources, Inc.	1,339,013		6,424,688	0.5%
#*	Tanzanian Royalty Exploration Corp.	298,950		78,787	0.0%
*	Taseko Mines, Ltd.	1,386,626		3,041,742	0.3%
#*	Tembec, Inc.	420,376		1,528,225	0.1%
#*	Teranga Gold Corp.	579,814		1,177,515	0.1%
#*	TMAC Resources, Inc.	68,713		429,822	0.0%
*	Torex Gold Resources, Inc.	427,760		5,898,652	0.5%
*	Trevali Mining Corp.	2,518,216		2,674,177	0.2%
#*	Wesdome Gold Mines, Ltd.	568,064		788,183	0.1%
	West Fraser Timber Co., Ltd.	800		48,660	0.0%
	Western Forest Products, Inc.	2,515,309		5,108,216	0.4%
	Winpak, Ltd.	149,435		5,768,439	0.5%
	Yamana Gold, Inc.	4,803,883		12,474,233	1.1%
Total Materials				344,245,152	28.9%
Real Estate — (2.8%)
	Altus Group, Ltd.	263,514		7,196,030	0.6%
	Brookfield Real Estate Services, Inc.	31,469		397,601	0.0%
	Colliers International Group, Inc.	174,095		10,203,335	0.9%
*	DREAM Unlimited Corp. Class A	241,400		1,375,312	0.1%
	FirstService Corp.(BYL7ZF7)	177,734		12,372,909	1.0%
	FirstService Corp.(33767E103)	1,234		85,960	0.0%
	Genesis Land Development Corp.	76,842		226,339	0.0%
	Information Services Corp.	7,374		100,885	0.0%
#*	Mainstreet Equity Corp.	29,849		873,652	0.1%
	Mainstreet Health Investments, Inc.	76,166		654,266	0.1%
	Melcor Developments, Ltd.	51,140		596,587	0.1%
	Morguard Corp.	11,268		1,676,968	0.1%
	Tricon Capital Group, Inc.	415,308		3,489,604	0.3%
Total Real Estate				39,249,448	3.3%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Utilities — (4.8%)
	Alterra Power Corp.	160,142	$	973,191	0.1%
	Boralex, Inc. Class A	317,384		5,638,665	0.5%
#	Capital Power Corp.	550,609		10,426,616	0.9%
	Innergex Renewable Energy, Inc.	513,027		5,603,093	0.5%
	Just Energy Group, Inc.	720,976		4,012,563	0.3%
*	Maxim Power Corp.	92,234		203,757	0.0%
#	Northland Power, Inc.	562,788		10,761,941	0.9%
	Polaris Infrastructure, Inc.	79,700		1,160,812	0.1%
#	Superior Plus Corp.	849,685		8,555,467	0.7%
	TransAlta Corp.	1,716,509		10,151,898	0.8%
	TransAlta Renewables, Inc.	506,146		5,457,322	0.5%
	Valener, Inc.	276,149		4,741,261	0.4%
Total Utilities				67,686,586	5.7%
TOTAL COMMON STOCKS				1,187,420,945	99.8%
RIGHTS/WARRANTS — (0.0%)
*	QLT, Inc. Warrants 11/23/17	219,010		—	0.0%
*	QLT, Inc. Warrants 11/23/17 Class A	219,010		—	0.0%
TOTAL RIGHTS/WARRANTS				—	0.0%
TOTAL INVESTMENT SECURITIES				1,187,420,945
			Value†
SECURITIES LENDING COLLATERAL — (15.2%)
§@	DFA Short Term Investment Fund	18,401,076		212,918,854	17.9%
TOTAL INVESTMENTS — (100.0%) (Cost $1,494,062,372)			$	1,400,339,799	117.7%

The Canadian Small Company Series
continued

Summary of the Series' investments as of October 31, 2017, based on their valuation inputs, is as follows (See Security Valuation Note):

	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3	Total
Common Stocks
Consumer Discretionary	$	106,829,755	$	7,021	—	$	106,836,776
Consumer Staples		58,738,661		—	—		58,738,661
Energy		257,600,528		9	—		257,600,537
Financials		91,097,737		—	—		91,097,737
Health Care		18,487,331		206,746	—		18,694,077
Industrials		149,744,830		—	—		149,744,830
Information Technology		53,527,141		—	—		53,527,141
Materials		344,243,948		1,204	—		344,245,152
Real Estate		39,249,448		—	—		39,249,448
Utilities		67,686,586		—	—		67,686,586
Securities Lending Collateral		—		212,918,854	—		212,918,854
TOTAL	$	1,187,205,965	$	213,133,834	—	$	1,400,339,799

(b) Not applicable.

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

Not applicable to the registrant.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable to the registrant.

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

Not applicable to the registrant.

Item 10. Submission of Matters to a Vote of Security Holders.

The registrant has not adopted procedures by which shareholders may recommend nominees to the registrant's Board of Trustees.

Item 11. Controls and Procedures.

(a) Within 90 days of the filing date of this Form N-CSR, Alexander B. Potts, the registrant’s President and Chief Executive Officer, and Michael Clinton, the registrant’s Treasurer and Chief Financial and Accounting Officer, reviewed the registrant’s disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) and evaluated their effectiveness. Based on their review, Messrs. Potts and Clinton determined that the disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the registrant on Form N-CSR and Form N-Q is accumulated and communicated to the registrant’s management to allow timely decisions regarding required disclosure.

(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 second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies

Not applicable to the registrant.

Item 13. Exhibits.

(a)(1) Not applicable.

(a)(2) The certifications required by Rule 30a-2(a) of the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley Act”) are filed herewith.

(a)(3) Not applicable.

(b) The certifications required by Rule 30a-2(b) of the 1940 Act and Section 906 of the Sarbanes-Oxley Act are filed herewith.

The certifications provided pursuant to Rule 30a-2(b) of the 1940 Act and Section 906 of the Sarbanes-Oxley Act are not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section. Such certifications will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates them by reference.

SIGNATURES

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.

SA FUNDS – INVESTMENT TRUST

By:	/s/ Alexander B. Potts
	Alexander B. Potts
	President and Chief Executive Officer

Date: March 7, 2018

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.

By:	/s/ Alexander B. Potts
	Alexander B. Potts
	President and Chief Executive Officer

Date: March 7, 2018

By:	/s/ Michael Clinton
	Michael Clinton
	Treasurer and Chief Financial and Accounting Officer

Date: March 7, 2018