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^thFloor, San Jose, CA 95113

(Address of principal executive offices) (zip code)

Salvatore Papa, 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, 7thFloor	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, 2018

Item 1. Report to Shareholders.

SEMI-ANNUAL REPORT
December 31, 2018

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	82
Quarterly Portfolio Schedule	82
Semi-Annual Portfolio Schedule	82
Board Approval of Investment Advisory and Investment Sub-Advisory Agreements	83
Understanding Your Fund’s Expenses	89
Selected Financial Statements of DFA Investment Dimensions Group Inc.	91

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, 2018 (Unaudited)

		FACE
		AMOUNT			VALUE†
BONDS AND NOTES — 99.1%
Australia — 0.6%
	Australia & New Zealand
	Banking Group Ltd.,
	2.250%, 12/19/19 ±	USD		500,000	$	495,791
	Australia & New Zealand
	Banking Group Ltd. MTN,
	1.600%, 7/15/19	USD		2,250,000		2,232,797
	National Australia Bank Ltd.,
	2.250%, 1/10/20	USD		1,000,000		991,668
						3,720,256
Canada — 10.0%
	Bank of Montreal MTN,
	2.100%, 6/15/20	USD		12,500,000		12,339,470
	Bank of Montreal MTN,
	3.100%, 7/13/20	USD		8,600,000		8,597,189
	Bank of Nova Scotia (The),
	2.350%, 10/21/20	USD		1,000,000		988,036
	Province of Ontario Canada,
	1.875%, 5/21/20	USD		6,500,000		6,427,478
	Province of Ontario Canada,
	4.400%, 4/14/20	USD		2,650,000		2,706,807
	Province of Quebec Canada,
	3.500%, 7/29/20	USD		1,500,000		1,519,444
	Royal Bank of Canada,
	2.150%, 10/26/20	USD		8,000,000		7,879,202
	Royal Bank of Canada MTN,
	2.350%, 10/30/20	USD		3,462,000		3,420,802
	Toronto-Dominion Bank (The)
	GMTN, 1.850%, 9/11/20	USD		1,500,000		1,472,923
	Toronto-Dominion Bank (The)
	MTN, 3.000%, 6/11/20	USD		16,463,000		16,479,082
						61,830,433
France — 0.3%
	Total Capital SA,
	4.450%, 6/24/20	USD		2,000,000		2,041,494
Japan — 0.3%
	MUFG Bank Ltd.,
	2.300%, 3/05/20 ±	USD		1,000,000		990,691
	Mizuho Bank Ltd.,
	2.400%, 3/26/20 ±	USD		1,000,000		990,408
						1,981,099
Netherlands — 2.8%
	Cooperatieve Rabobank UA,
	1.375%, 8/09/19	USD		880,000		871,561
	Shell International Finance BV,
	2.125%, 5/11/20	USD		13,365,000		13,242,724
	Shell International Finance BV,
	4.375%, 3/25/20	USD		3,000,000		3,052,293
						17,166,578
Norway — 0.1%
	Equinor ASA,
	2.250%, 11/08/19	USD		600,000		595,468
Sweden — 1.0%
	Svensk Exportkredit AB,
	1.750%, 5/18/20	USD		4,000,000		3,950,916
	Svensk Exportkredit AB MTN,
	2.750%, 10/07/20	USD		2,000,000		2,002,618
						5,953,534
United Kingdom — 0.5%
	BAT International Finance PLC,
	2.750%, 6/15/20 ±	USD		3,000,000		2,948,732
United States — 83.5%
	Amazon.com, Inc.,
	1.900%, 8/21/20		$	8,497,000		8,376,664
	Amgen, Inc., 2.200%, 5/11/20			3,000,000		2,963,145
	Anthem, Inc., 4.350%, 8/15/20			1,000,000		1,017,999
	Apple, Inc., 1.800%, 5/11/20			2,909,000		2,872,927
	Apple, Inc., 2.000%, 11/13/20			5,265,000		5,197,054
	AT&T, Inc., 5.200%, 3/15/20			1,000,000		1,021,933
	Bank of America Corp. MTN,
	2.625%, 10/19/20			4,500,000		4,453,995
	Biogen, Inc., 2.900%, 9/15/20			4,250,000		4,220,085
	Boston Scientific Corp.,
	2.850%, 5/15/20			5,000,000		4,969,075
	Caterpillar Financial
	Services Corp. MTN,
	2.000%, 3/05/20			2,361,000		2,333,192
	Chevron Corp.,
	1.991%, 3/03/20			4,750,000		4,708,553
	Cisco Systems, Inc.,
	1.400%, 9/20/19			844,000		836,517
	Cisco Systems, Inc.,
	4.450%, 1/15/20			5,000,000		5,078,380
	Citigroup, Inc.,
	2.400%, 2/18/20			2,500,000		2,477,979
	Comcast Corp.,
	5.150%, 3/01/20			1,000,000		1,023,826
	Edison International,
	2.125%, 4/15/20			5,069,000		4,935,932
	Federal Home Loan Banks,
	1.875%, 3/13/20			21,000,000		20,822,802
	Federal Home Loan Banks,
	2.125%, 2/11/20			12,000,000		11,945,088
	Federal Home Loan Banks,
	2.375%, 3/30/20			15,000,000		14,969,145
	Federal Home Loan Banks,
	2.625%, 5/28/20			20,500,000		20,532,411
	Federal Home Loan Banks,
	3.375%, 6/12/20			39,000,000		39,470,028
	Federal Home Loan Banks,
	4.125%, 3/13/20			19,200,000		19,545,888
	General Dynamics Corp.,
	2.875%, 5/11/20			3,000,000		3,002,655
	General Electric Co. GMTN,
	5.500%, 1/08/20			2,000,000		2,024,056
	Gilead Sciences, Inc.,
	2.350%, 2/01/20			3,505,000		3,482,043
	Gilead Sciences, Inc.,
	2.550%, 9/01/20			1,910,000		1,895,011

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, 2018 (Unaudited) (Continued)

		FACE
		AMOUNT		VALUE†
BONDS AND NOTES (Continued)
United States (Continued)
	Goldman Sachs Group Inc. (The)
	GMTN, 5.375%, 3/15/20	$	500,000	$	511,269
	HSBC USA, Inc.,
	2.750%, 8/07/20		1,685,000		1,667,052
	John Deere Capital Corp. MTN,
	2.050%, 3/10/20		2,260,000		2,234,695
	JPMorgan Chase & Co.,
	4.400%, 7/22/20		2,500,000		2,545,783
	JPMorgan Chase & Co.,
	4.950%, 3/25/20		1,791,000		1,829,228
	KeyCorp MTN,
	2.900%, 9/15/20		3,780,000		3,753,566
	Kraft Heinz Foods Co.,
	5.375%, 2/10/20		4,500,000		4,604,062
	Laboratory Corp. of America
	Holdings, 2.625%, 2/01/20		881,000		875,108
	Medtronic, Inc.,
	2.500%, 3/15/20		2,000,000		1,990,110
	Merck & Co., Inc.,
	1.850%, 2/10/20		5,633,000		5,583,464
	Microsoft Corp.,
	3.000%, 10/01/20		3,887,000		3,914,271
	Morgan Stanley,
	2.800%, 6/16/20		4,645,000		4,616,456
	NextEra Energy Capital Holdings,
	Inc., 3.342%, 9/01/20		3,000,000		3,007,158
	Novartis Capital Corp.,
	1.800%, 2/14/20		1,493,000		1,476,525
	Oracle Corp., 3.875%, 7/15/20		1,000,000		1,015,376
	Packaging Corp. of America,
	2.450%, 12/15/20		1,000,000		982,319
	Philip Morris International, Inc.,
	2.000%, 2/21/20		3,715,000		3,669,248
	Philip Morris International, Inc.,
	4.500%, 3/26/20		1,500,000		1,525,754
	QUALCOMM, Inc.,
	2.250%, 5/20/20		1,000,000		986,299
	Quest Diagnostics, Inc.,
	4.750%, 1/30/20		1,000,000		1,016,361
	Sherwin-Williams Co. (The),
	2.250%, 5/15/20		2,000,000		1,970,035
	SVB Financial Group,
	5.375%, 9/15/20		3,000,000		3,096,309
	Toyota Motor Credit Corp.,
	1.950%, 4/17/20		7,879,000		7,782,616
	Toyota Motor Credit Corp.
	GMTN, 2.200%, 1/10/20		2,000,000		1,982,173
	Toyota Motor Credit Corp. MTN,
	2.150%, 3/12/20		4,831,000		4,775,884
	Unilever Capital Corp.,
	1.800%, 5/05/20		500,000		492,656
	United States Treasury Note,
	1.125%, 3/31/20		17,500,000		17,197,852
	United States Treasury Note,
	1.125%, 4/30/20		17,000,000		16,682,246
	United States Treasury Note,
	1.250%, 1/31/20		24,000,000		23,655,469
	United States Treasury Note,
	1.250%, 2/29/20		29,500,000		29,048,857
	United States Treasury Note,
	1.375%, 1/15/20		7,000,000		6,912,363
	United States Treasury Note,
	1.375%, 2/15/20		33,000,000		32,548,828
	United States Treasury Note,
	1.375%, 2/29/20		11,000,000		10,847,461
	United States Treasury Note,
	1.375%, 3/31/20		33,500,000		33,011,895
	United States Treasury Note,
	1.500%, 4/15/20		13,000,000		12,828,359
	United States Treasury Note,
	1.500%, 5/15/20		2,000,000		1,971,836
	United States Treasury Note,
	1.625%, 3/15/20		25,500,000		25,217,607
	United States Treasury Note,
	2.250%, 3/31/20		27,000,000		26,892,422
	Verizon Communications, Inc.,
	2.625%, 2/21/20		1,785,000		1,778,809
	Wal-Mart Stores, Inc.,
	1.750%, 10/09/19		10,377,000		10,305,309
	Walmart, Inc.,
	2.850%, 6/23/20		3,127,000		3,132,735
	Wells Fargo & Co.,
	2.150%, 1/30/20		1,938,000		1,917,228
	Wells Fargo & Co. GMTN,
	2.600%, 7/22/20		3,000,000		2,971,593
					519,001,029
TOTAL BONDS AND NOTES
	(Identified Cost $615,289,401)				615,238,623

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, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
SHORT-TERM INVESTMENTS — 0.4%
Investment Company — 0.4%
	State Street Institutional U.S. Government
	Money Market Fund, 2.270%	2,744,693	$	2,744,693
	TOTAL SHORT-TERM
	INVESTMENTS
	(Identified Cost $2,744,693)			2,744,693
Total Investments — 99.5%
	(Identified Cost $618,034,094)			617,983,316
	Cash and Other Assets, Less
	Liabilities — 0.5%			3,322,212
Net Assets — 100.0%			$	621,305,528

†	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, 2018 amounted to $5,425,622 or 0.87% of the net assets of the Fund.

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, 2018 (Unaudited)

		FACE
		AMOUNT		VALUE†
BONDS AND NOTES — 98.4%
Australia — 7.1%
	Australia & New Zealand
	Banking Group Ltd,
	2.550%, 11/23/21	USD	1,200,000	$	1,175,276
	Australia & New Zealand
	Banking Group Ltd. MTN,
	2.300%, 6/01/21	USD	7,850,000		7,663,763
	Australia & New Zealand
	Banking Group Ltd. MTN,
	2.700%, 11/16/20	USD	1,661,000		1,643,708
	Commonwealth Bank of Australia,
	0.500%, 7/11/22	EUR	500,000		574,262
	Commonwealth Bank of Australia,
	2.050%, 9/18/20±	USD	2,000,000		1,961,973
	Commonwealth Bank of Australia,
	2.250%, 3/10/20±	USD	2,950,000		2,924,502
	Commonwealth Bank of Australia
	GMTN, 2.300%, 3/12/20	USD	1,900,000		1,880,469
	National Australia Bank Ltd.,
	2.400%, 12/09/19±	USD	6,481,000		6,440,095
	National Australia Bank Ltd.,
	2.625%, 7/23/20	USD	5,000,000		4,948,483
	National Australia Bank Ltd.
	GMTN, 0.350%, 9/07/22	EUR	3,150,000		3,586,472
	National Australia Bank Ltd.
	GMTN, 0.875%, 1/20/22	EUR	1,500,000		1,743,175
	Westpac Banking Corp.,
	0.250%, 1/17/22	EUR	1,000,000		1,140,211
	Westpac Banking Corp.,
	2.600%, 11/23/20	USD	16,825,000		16,614,909
					52,297,298
Austria — 0.2%
	Republic of Austria Government
	Bond, 0.000%, 9/20/22±	EUR	1,000,000		1,159,355
Belgium — 0.7%
	Kingdom of Belgium Government
	Bond, 2.250%, 6/22/23	EUR	1,000,000		1,269,679
	Kingdom of Belgium Government
	Bond, 4.250%, 9/28/22±	EUR	2,750,000		3,688,989
					4,958,668
Canada — 21.3%
	Bank of Montreal,
	1.880%, 3/31/21	CAD	2,500,000		1,799,535
	Canada Housing Trust No 1,
	1.250%, 12/15/20±	CAD	3,000,000		2,166,891
	Canada Housing Trust No. 1,
	1.200%, 6/15/20±	CAD	3,000,000		2,175,154
	Canada Housing Trust No. 1,
	1.750%, 6/15/22±	CAD	3,000,000		2,168,012
	CPPIB Capital, Inc.,
	1.400%, 6/04/20	CAD	19,500,000		14,157,068
	CPPIB Capital, Inc.,
	2.250%, 1/25/22±	USD	4,000,000		3,941,895
	Province of Alberta Canada,
	1.250%, 6/01/20	CAD	5,000,000		3,622,473
	Province of Alberta Canada,
	1.350%, 9/01/21	CAD	11,000,000		7,878,472
	Province of Alberta Canada,
	1.750%, 8/26/20±	USD	2,000,000		1,968,662
	Province of British Columbia
	Canada, 3.700%, 12/18/20	CAD	23,500,000		17,752,725
	Province of Manitoba Canada,
	1.550%, 9/05/21	CAD	10,000,000		7,200,337
	Province of Manitoba Canada,
	2.050%, 11/30/20	USD	3,000,000		2,957,506
	Province of Ontario Canada,
	1.350%, 3/08/22	CAD	3,000,000		2,135,226
	Province of Ontario Canada,
	2.500%, 9/10/21@	USD	11,082,000		11,003,002
	Province of Ontario Canada,
	4.200%, 6/02/20	CAD	8,500,000		6,413,478
	Province of Quebec Canada,
	2.750%, 8/25/21@	USD	8,000,000		8,006,143
	Province of Quebec Canada,
	4.500%, 12/01/20	CAD	13,000,000		9,953,780
	Royal Bank of Canada,
	1.583%, 9/13/21	CAD	2,500,000		1,776,516
	Royal Bank of Canada,
	1.920%, 7/17/20	CAD	14,000,000		10,153,281
	Royal Bank of Canada GMTN,
	2.500%, 1/19/21@	USD	5,000,000		4,944,144
	Royal Bank of Canada MTN,
	2.350%, 10/30/20	USD	1,910,000		1,887,271
	Toronto-Dominion Bank (The),
	1.800%, 7/13/21@	USD	9,750,000		9,438,432
	Toronto-Dominion Bank (The)
	GMTN, 2.500%, 12/14/20	USD	1,500,000		1,485,634
	Toronto-Dominion Bank (The)
	MTN, 2.125%, 4/07/21	USD	10,000,000		9,788,626
	Total Capital Canada Ltd.,
	1.125%, 3/18/22	EUR	2,000,000		2,360,719
	Toyota Credit Canada, Inc. MTN,
	1.800%, 2/19/20	CAD	11,000,000		7,987,569
	Toyota Credit Canada, Inc. MTN,
	2.200%, 2/25/21	CAD	2,452,000		1,775,024
					156,897,575
Denmark — 0.1%
	Kommunekredit,
	0.250%, 3/29/23	EUR	1,000,000		1,158,120
Finland — 1.8%
	Finland Government Bond,
	1.500%, 4/15/23±	EUR	7,800,000		9,605,994
	OP Corporate Bank PLC,
	0.375%, 10/11/22	EUR	300,000		343,260
	OP Corporate Bank PLC,
	0.750%, 3/03/22	EUR	900,000		1,045,497
	OP Corporate Bank PLC,
	2.500%, 5/20/22	GBP	1,642,000		2,145,215
					13,139,966

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

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		FACE
		AMOUNT		VALUE†
BONDS AND NOTES (Continued)
France — 11.7%
	Agence Francaise de
	Developpement,
	0.500%, 10/25/22	EUR	300,000	$	349,685
	Agence Francaise de
	Developpement,
	1.625%, 1/21/20	USD	3,000,000		2,965,629
	Caisse d’Amortissement de la
	Dette Sociale,
	0.125%, 11/25/22	EUR	10,800,000		12,479,957
	Caisse d’Amortissement de la
	Dette Sociale,
	2.000%, 3/22/21	USD	7,000,000		6,888,308
	Dexia Credit Local SA,
	0.250%, 6/02/22	EUR	5,850,000		6,756,686
	Dexia Credit Local SA,
	0.750%, 1/25/23	EUR	1,200,000		1,408,619
	Dexia Credit Local SA,
	1.125%, 6/15/22	GBP	1,500,000		1,885,949
	Dexia Credit Local SA,
	1.875%, 1/29/20	USD	5,898,000		5,845,467
	French Republic
	Government Bond OAT,
	0.000%, 5/25/22	EUR	5,500,000		6,369,857
	French Republic
	Government Bond OAT,
	0.000%, 3/25/23	EUR	6,100,000		7,033,272
	French Republic
	Government Bond OAT,
	3.000%, 4/25/22	EUR	2,800,000		3,566,437
	Sanofi, 0.500%, 3/21/23	EUR	4,200,000		4,864,741
	Sanofi, 4.000%, 3/29/21	USD	4,280,000		4,378,711
	Total Capital International SA,
	0.250%, 7/12/23	EUR	1,200,000		1,366,239
	Total Capital International SA,
	2.125%, 3/15/23	EUR	1,200,000		1,474,534
	Total Capital International SA,
	2.750%, 6/19/21	USD	8,922,000		8,860,172
	Total Capital SA,
	4.125%, 1/28/21	USD	4,395,000		4,489,160
	UNEDIC ASSEO,
	0.125%, 5/25/22	EUR	2,000,000		2,307,797
	UNEDIC ASSEO,
	0.875%, 10/25/22	EUR	2,500,000		2,964,292
					86,255,512
Germany — 6.8%
	FMS Wertmanagement,
	1.000%, 9/07/22	GBP	600,000		757,935
	KFW, 0.000%, 12/15/22	EUR	10,000,000		11,536,473
	KFW, 0.875%, 3/15/22	GBP	1,000,000		1,260,700
	Kreditanstalt fuer Wiederaufbau,
	0.125%, 6/07/23	EUR	5,550,000		6,419,556
	Kreditanstalt fuer Wiederaufbau,
	0.125%, 2/24/23	EUR	400,000		463,199
	Landwirtschaftliche Rentenbank,
	0.050%, 6/12/23	EUR	3,500,000		4,027,223
	Landwirtschaftliche Rentenbank,
	1.250%, 5/20/22	EUR	600,000		721,901
	NRW Bank, 0.000%, 8/10/22	EUR	900,000		1,036,263
	NRW Bank, 0.125%, 3/10/23	EUR	4,900,000		5,660,294
	NRW Bank, 0.125%, 7/07/23	EUR	6,300,000		7,263,517
	State of North Rhine-
	Westphalia Germany,
	0.200%, 4/17/23	EUR	8,500,000		9,837,624
	State of North Rhine-
	Westphalia Germany,
	0.375%, 2/16/23	EUR	900,000		1,049,496
					50,034,181
Luxembourg — 3.1%
	European Financial
	Stability Facility,
	0.000%, 11/17/22	EUR	6,500,000		7,484,140
	European Financial
	Stability Facility,
	0.125%, 10/17/23	EUR	4,000,000		4,597,504
	European Financial
	Stability Facility,
	0.500%, 1/20/23	EUR	6,200,000		7,275,578
	Novartis Finance SA,
	0.125%, 9/20/23	EUR	3,000,000		3,407,881
					22,765,103
Netherlands — 8.3%
	Bank Nederlandse Gemeenten
	NV, 0.250%, 2/22/23	EUR	2,000,000		2,322,398
	Bank Nederlandse Gemeenten
	NV, 1.000%, 3/15/22	GBP	500,000		631,300
	Bank Nederlandse Gemeenten
	NV, 1.625%, 4/19/21	USD	14,500,000		14,159,424
	Bank Nederlandse Gemeenten
	NV, 2.375%, 2/01/22	USD	3,000,000		2,966,973
	BNG Bank NV,
	0.050%, 7/11/23	EUR	1,000,000		1,147,487
	Cooperatieve Centrale
	Raiffeisen-Boerenleenbank BA,
	4.750%, 6/06/22	EUR	5,370,000		7,091,789
	Cooperatieve Centrale Raiffeisen-
	Boerenleenbank BA GMTN,
	2.500%, 1/19/21	USD	12,391,000		12,179,658
	Cooperatieve Centrale Raiffeisen-
	Boerenleenbank BA GMTN,
	4.000%, 1/11/22	EUR	1,000,000		1,276,861
	Nederlandse Waterschapsbank
	NV, 0.125%, 9/25/23	EUR	1,000,000		1,149,716
	Shell International Finance BV,
	1.750%, 9/12/21	USD	2,500,000		2,416,727
	Shell International Finance BV,
	2.125%, 5/11/20	USD	10,495,000		10,398,982
	Shell International Finance BV,
	2.250%, 11/10/20	USD	5,100,000		5,040,572
					60,781,887

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

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited)

		FACE
		AMOUNT		VALUE†
BONDS AND NOTES (Continued)
New Zealand — 0.2%
	ANZ New Zealand Int’l Ltd.,
	0.400%, 3/01/22	EUR	355,000	$	404,980
	ASB Finance Ltd.,
	0.500%, 6/10/22	EUR	800,000		913,270
					1,318,250
Norway — 1.7%
	Equinor ASA,
	2.900%, 11/08/20	USD	3,000,000		2,989,719
	Kommunalbanken AS,
	1.625%, 2/10/21	USD	5,000,000		4,898,510
	Norway Government Bond,
	3.750%, 5/25/21±	NOK	37,000,000		4,543,248
					12,431,477
Supranational — 4.2%
	Asian Development Bank GMTN,
	0.200%, 5/25/23	EUR	5,126,000		5,943,438
	European Investment Bank,
	0.000%, 10/16/23	EUR	11,500,000		13,189,245
	European Investment Bank,
	0.050%, 12/15/23	EUR	2,500,000		2,872,836
	European Investment Bank,
	1.625%, 3/15/23	EUR	600,000		736,734
	European Stability Mechanism,
	0.000%, 10/18/22	EUR	450,000		518,104
	European Stability Mechanism,
	0.100%, 7/31/23	EUR	6,500,000		7,481,571
					30,741,928
Sweden — 9.6%
	Kommuninvest I Sverige AB,
	0.250%, 6/01/22	SEK	112,999,999		12,753,862
	Kommuninvest I Sverige AB,
	0.750%, 2/22/23	SEK	65,000,000		7,436,084
	Kommuninvest I Sverige AB,
	2.500%, 12/01/20	SEK	15,000,000		1,770,731
	Nordea Bank AB,
	2.500%, 9/17/20±	USD	4,000,000		3,945,559
	Skandinaviska Enskilda
	Banken AB GMTN,
	0.300%, 2/17/22	EUR	918,000		1,052,720
	Svensk Exportkredit AB GMTN,
	1.750%, 3/10/21	USD	3,500,000		3,434,458
	Svensk Exportkredit AB GMTN,
	2.375%, 3/09/22	USD	5,000,000		4,948,160
	Svenska Handelsbanken AB,
	0.250%, 2/28/22	EUR	250,000		286,011
	Svenska Handelsbanken AB,
	1.125%, 12/14/22	EUR	1,633,000		1,920,404
	Svenska Handelsbanken AB,
	1.950%, 9/08/20	USD	5,355,000		5,235,167
	Svenska Handelsbanken AB,
	2.450%, 3/30/21	USD	1,000,000		980,673
	Svenska Handelsbanken AB,
	5.125%, 3/30/20±	USD	5,000,000		5,120,355
	Sweden Government Bond,
	1.500%, 11/13/23±	SEK	75,000,000		9,099,016
	Sweden Government Bond,
	3.500%, 6/01/22	SEK	100,000,000		12,718,451
					70,701,651
United States — 21.6%
	3M Co., 0.950%, 5/15/23	EUR	120,000		141,049
	Alphabet, Inc.,
	3.625%, 5/19/21	USD	6,929,000		7,070,696
	Apple, Inc., 1.550%, 8/04/21	USD	5,000,000		4,849,795
	Apple, Inc., 2.850%, 5/06/21	USD	3,000,000		3,004,681
	Berkshire Hathaway, Inc.,
	0.750%, 3/16/23	EUR	400,000		462,388
	Berkshire Hathaway, Inc.,
	2.200%, 3/15/21	USD	2,500,000		2,467,999
	Berkshire Hathaway, Inc.,
	3.750%, 8/15/21@	USD	1,200,000		1,226,537
	Chevron Corp.,
	1.961%, 3/03/20	USD	2,600,000		2,574,338
	Chevron Corp.,
	2.100%, 5/16/21	USD	2,048,000		2,009,156
	Chevron Corp.,
	2.498%, 3/03/22	USD	3,098,000		3,039,601
	Cisco Systems, Inc.,
	2.200%, 2/28/21	USD	7,950,000		7,847,113
	Cisco Systems, Inc.,
	4.450%, 1/15/20	USD	6,000,000		6,094,056
	Coca-Cola Co. (The),
	0.750%, 3/09/23	EUR	5,220,000		6,066,351
	Coca-Cola Co. (The),
	1.550%, 9/01/21	USD	610,000		591,675
	Coca-Cola Co. (The),
	3.300%, 9/01/21	USD	10,645,000		10,784,614
	Exxon Mobil Corp.,
	2.222%, 3/01/21	USD	6,450,000		6,359,127
	Federal Home Loan Banks,
	2.250%, 3/11/22	USD	6,000,000		5,931,078
	Federal Home Loan Banks,
	2.500%, 3/11/22	USD	2,000,000		1,996,850
	Federal Home Loan Banks,
	2.875%, 9/11/20	USD	900,000		904,910
	Federal Home Loan Mortgage
	Corp., 1.625%, 9/29/20@	USD	3,600,000		3,544,243
	International Business Machines
	Corp., 2.500%, 1/27/22@	USD	5,620,000		5,474,146
	Johnson & Johnson,
	2.250%, 3/03/22	USD	800,000		780,728
	Merck & Co., Inc.,
	1.850%, 2/10/20	USD	13,500,000		13,381,282
	Microsoft Corp.,
	1.550%, 8/08/21	USD	11,000,000		10,690,177

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

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		FACE
		AMOUNT		VALUE†
BONDS AND NOTES (Continued)
United States (Continued)
	Oracle Corp.,
	1.900%, 9/15/21	USD	7,500,000	$	7,279,399
	Oracle Corp.,
	2.800%, 7/08/21	USD	13,500,000		13,439,391
	Pfizer, Inc., 0.250%, 3/06/22	EUR	2,400,000		2,755,736
	Pfizer, Inc., 1.950%, 6/03/21	USD	4,000,000		3,923,845
	Pfizer, Inc., 2.200%, 12/15/21	USD	7,970,000		7,838,270
	Procter & Gamble Co. (The),
	2.000%, 8/16/22	EUR	600,000		732,674
	Toyota Motor Credit Corp. MTN,
	2.150%, 3/12/20	USD	3,000,000		2,965,773
	Toyota Motor Credit Corp. MTN,
	2.600%, 1/11/22	USD	1,000,000		984,509
	Toyota Motor Credit Corp. MTN,
	2.750%, 5/17/21	USD	5,000,000		4,973,513
	United States Treasury Note,
	1.125%, 7/31/21	USD	3,000,000		2,899,453
	United States Treasury Note,
	1.500%, 7/15/20	USD	4,000,000		3,938,125
					159,023,278
TOTAL BONDS AND NOTES
	(Identified Cost
	$744,572,080)				723,664,249
		SHARES
SHORT-TERM INVESTMENTS — 2.3%
Investment Company — 0.3%
	State Street Institutional U.S.
	Government Money Market
	Fund, 2.27%		2,672,421		2,672,421
Collateral For Securities On Loan — 2.0%
	State Street Navigator Securities
	Lending Government Money
	Market Portfolio, 2.35%		14,592,098		14,592,098
	TOTAL SHORT-TERM
	INVESTMENTS
	(Identified Cost $17,264,519)				17,264,519
Total Investments — 100.7%
	(Identified Cost $761,836,599)				740,928,768
	Liabilities, Less Cash and Other
	Assets — (0.7%)				(4,947,127	)
Net Assets — 100.0%				$	735,981,641

†	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, 2018 amounted to $60,909,701 or 8.28% of the net assets of the Fund.
@	A portion or all of the security were held on loan. As of December 31, 2018, the market value of the securities on loan was $14,309,281.

Key to abbreviations:
CAD — Canadian Dollar
EUR — Euro Currency
GBP — British Pound
GMTN — Global Medium Term Note
MTN — Medium Term Note
NOK — Norwegian Krone
SEK — Swedish Krona
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, 2018 (Unaudited) (Continued)

Forward Foreign Currency Exchange Contracts sold outstanding as of December 31, 2018
Settlement	Currency		Currency			Total Value as of		Unrealized		Unrealized
Date	Purchased		Sold		Counterparty	December 31, 2018		Appreciation		Depreciation
01/11/19	USD	38,824,690	EUR	33,262,843	Bank of America, N.A.	$	38,136,032	$	688,658	$	—
01/11/19	USD	3,173,500	EUR	2,787,758	Bank of America, N.A.		3,196,180		—		(22,680	)
01/11/19	USD	4,855,874	EUR	4,228,486	Morgan Stanley & Co., Inc.		4,847,982		7,892		—
01/11/19	USD	3,810,375	EUR	3,336,751	Morgan Stanley & Co., Inc.		3,825,603		—		(15,228	)
01/11/19	USD	10,580,302	EUR	9,117,889	State Street Bank and Trust Co.		10,453,710		126,592		—
01/11/19	USD	4,373,250	EUR	3,827,721	State Street Bank and Trust Co.		4,388,503		—		(15,253	)
01/11/19	USD	4,927,428	NOK	40,167,713	State Street Bank and Trust Co.		4,647,279		280,149		—
01/11/19	USD	4,828,427	SEK	43,471,962	Citibank, N.A.		4,908,330		—		(79,903	)
01/11/19	USD	38,744,218	SEK	346,722,438	State Street Bank and Trust Co.		39,147,719		—		(403,501	)
01/16/19	USD	6,890,075	GBP	5,291,658	State Street Bank and Trust Co.		6,749,079		140,996		—
01/18/19	USD	1,944,191	CAD	2,549,918	HSBC Bank USA		1,868,580		75,611		—
01/18/19	USD	101,829,478	CAD	132,463,054	Morgan Stanley & Co., Inc.		97,068,924		4,760,554		—
01/28/19	USD	143,872,049	EUR	125,227,438	State Street Bank and Trust Co.		143,778,212		93,837		—
Total								$	6,174,289	$	(536,565	)

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, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 95.9%
Aerospace & Defense — 2.6%
	Boeing Co. (The)	16,461	$	5,308,673
	Other Securities^	100,633		12,958,693
				18,267,366
Air Freight & Logistics — 0.8%
	United Parcel Service, Inc., Class B	31,383		3,060,784
	Other Securities^*	25,306		2,685,065
				5,745,849
Airlines — 0.7%
	Other Securities^*	95,793		4,552,767
Auto Components — 0.3%
	Other Securities^*	46,023		1,946,507
Automobiles — 0.5%
	Other Securities^	177,641		3,150,406
Beverages — 2.4%
	Coca-Cola Co. (The)	153,690		7,277,222
	PepsiCo, Inc.	63,525		7,018,242
	Other Securities^@	43,272		2,453,759
				16,749,223
Biotechnology — 2.8%
	AbbVie, Inc.	45,211		4,168,002
	Amgen, Inc.	25,582		4,980,048
	Gilead Sciences, Inc.	48,654		3,043,308
	Other Securities^*	78,263		7,227,018
				19,418,376
Building Products — 0.3%
	Other Securities^	56,801		2,391,558
Capital Markets — 2.1%
	Other Securities^	201,842		14,518,851
Chemicals — 1.9%
	Other Securities^	167,726		13,053,863
Commercial Banks — 3.7%
	Bank of America Corp.	126,833		3,125,165
	JPMorgan Chase & Co.	72,295		7,057,438
	Wells Fargo & Co.	92,745		4,273,690
	Other Securities^	319,626		11,089,524
				25,545,817
Commercial Services & Supplies — 0.6%
	Other Securities^	62,939		4,484,328
				4,484,328
Communications Equipment — 1.1%
	Cisco Systems, Inc.	130,810		5,667,997
	Other Securities^*	39,840		2,133,085
				7,801,082
Computers & Peripherals — 3.8%
	Apple, Inc.	148,687	$	23,453,887
	Other Securities^	106,026		2,814,082
				26,267,969
Construction & Engineering — 0.1%
	Other Securities^	17,883		650,113
Construction Materials — 0.1%
	Other Securities^	4,482		481,822
Consumer Finance — 0.8%
	Other Securities^	111,803		5,537,020
Containers & Packaging — 0.5%
	Other Securities^	77,006		3,154,541
Distributors — 0.1%
	Other Securities^	13,981		903,464
Diversified Consumer Services — 0.2%
	Other Securities^*	28,885		1,307,691
Diversified Financial Services — 0.8%
	Berkshire Hathaway, Inc., Class B*	25,462		5,198,831
	Other Securities^	7,248		173,117
				5,371,948
Diversified Telecommunication Services — 2.5%
	AT&T, Inc.	205,857		5,875,159
	Verizon Communications, Inc.	193,995		10,906,399
	Other Securities^*	39,756		689,069
				17,470,627
Electric Utilities — 1.8%
	Other Securities^	213,864		12,496,620
Electrical Equipment — 0.6%
	Other Securities^*	56,866		3,793,184
Electronic Equipment, Instruments & Components — 0.8%
	Other Securities^*	106,266		5,215,225
Energy Equipment & Services — 0.3%
	Other Securities^*@	69,241		1,779,221
Entertainment — 1.9%
	Walt Disney Co. (The)	45,225		4,958,921
	Other Securities^*	140,304		8,097,938
				13,056,859
Food & Staples Retailing — 1.8%
	Costco Wholesale Corp.	16,476		3,356,326
	Walmart, Inc.	54,534		5,079,842
	Other Securities^	88,866		4,002,132
				12,438,300
Food Products — 1.0%
	Other Securities^	141,448		7,028,324

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, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Gas Utilities — 0.2%
	Other Securities^	17,999	$	1,079,080
Health Care Equipment & Supplies — 2.1%
	Other Securities^	159,236		14,911,470
Health Care Providers & Services — 3.0%
	UnitedHealth Group, Inc.	28,864		7,190,600
	Other Securities^*	132,289		13,361,680
				20,552,280
Health Care Technology — 0.1%
	Other Securities^*	17,301		984,662
Hotels, Restaurants & Leisure — 2.3%
	McDonald’s Corp.	23,524		4,177,157
	Starbucks Corp.	56,582		3,643,881
	Other Securities^	137,341		8,289,786
				16,110,824
Household Durables — 0.3%
	Other Securities^	37,677		2,034,631
Household Products — 1.7%
	Procter & Gamble Co. (The)	77,190		7,095,305
	Other Securities^@	54,946		4,487,792
				11,583,097
Independent Power Producers & Energy Traders — 0.1%
	Other Securities^*	43,827		999,771
Industrial Conglomerates — 1.4%
	3M Co.	26,230		4,997,864
	Honeywell International, Inc.	28,340		3,744,281
	Other Securities^	70,550		1,155,082
				9,897,227
Insurance — 1.8%
	Other Securities^	204,915		12,398,991
Interactive Media & Services — 3.3%
	Alphabet, Inc., Class A*	5,977		6,245,726
	Alphabet, Inc., Class C*	6,240		6,462,206
	Facebook, Inc., Class A*	72,531		9,508,089
	Other Securities^*@	20,952		803,887
				23,019,908
Internet & Catalog Retail — 4.2%
	Amazon.com, Inc.*	16,694		25,073,887
	Other Securities^*@	53,032		4,452,516
				29,526,403
IT Services — 5.9%
	Accenture PLC, Class A	28,710		4,048,397
	International Business
	Machines Corp.	40,357		4,587,380
	MasterCard, Inc., Class A	41,347		7,800,112
	Visa, Inc., Class A	65,976		8,704,873
	Other Securities^*	219,889		15,874,102
				41,014,864
Leisure Equipment & Products — 0.1%
	Other Securities^	16,207		765,386
Life Sciences Tools & Services — 0.8%
	Other Securities^*	34,890		5,445,289
Machinery — 2.1%
	Other Securities^	167,488		14,466,110
Marine — 0.0%
	Other Securities^*	1,394		93,900
Media — 1.4%
	Comcast Corp., Class A	142,048		4,836,734
	Other Securities^	152,360		5,063,398
				9,900,132
Metals & Mining — 0.3%
	Other Securities^	114,571		2,223,610
Multi-Utilities — 0.9%
	Other Securities^	110,064		6,455,869
Multiline Retail — 0.6%
	Other Securities^	63,309		4,122,602
Oil, Gas & Consumable Fuels — 3.2%
	Exxon Mobil Corp.	90,407		6,164,853
	Other Securities^*	400,877		16,419,460
				22,584,313
Paper & Forest Products — 0.0%
	Other Securities^	5,743		153,429
Personal Products — 0.2%
	Other Securities^*	17,514		1,645,026
Pharmaceuticals — 4.9%
	Eli Lilly & Co.	29,084		3,365,601
	Johnson & Johnson	84,709		10,931,696
	Merck & Co., Inc.	83,169		6,354,943
	Pfizer, Inc.	183,764		8,021,299
	Other Securities^	96,344		5,675,930
				34,349,469
Professional Services — 0.4%
	Other Securities^*	40,720		2,779,615
Real Estate Investment Trusts (REITs) — 0.0%
	Other Securities^	307		3,761
Real Estate Management & Development — 0.1%
	Other Securities^	20,050		708,570

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, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Road & Rail — 1.2%
	Union Pacific Corp.	27,687	$	3,827,174
	Other Securities^	58,894		4,601,830
				8,429,004
Semiconductors & Semiconductor Equipment — 4.0%
	Intel Corp.	167,253		7,849,183
	NVIDIA Corp.	21,805		2,910,968
	Texas Instruments, Inc.	43,303		4,092,134
	Other Securities^	255,431		12,763,446
				27,615,731
Software — 6.5%
	Adobe, Inc.*	14,839		3,357,175
	Microsoft Corp.	274,011		27,831,297
	Oracle Corp.	75,298		3,399,705
	Other Securities^*	115,878		10,728,857
				45,317,034
Specialty Retail — 3.3%
	Home Depot, Inc. (The)	50,815		8,731,033
	Lowe’s Cos., Inc.	36,471		3,368,461
	Other Securities^@	167,090		11,113,427
				23,212,921
Textiles, Apparel & Luxury Goods — 0.9%
	NIKE, Inc., Class B	47,852		3,547,748
	Other Securities^	69,084		2,941,093
				6,488,841
Thrifts & Mortgage Finance — 0.0%
	Other Securities^	14,014		259,468
Tobacco — 1.1%
	Altria Group, Inc.	84,691		4,182,889
	Philip Morris International, Inc.	46,340		3,093,658
				7,276,547
Trading Companies & Distributors — 0.4%
	Other Securities^	37,987		2,617,209
Transportation Infrastructure — 0.0%
	Other Securities^	1,285		46,980
Water Utilities — 0.1%
	Other Securities^	11,234		689,095
Wireless Telecommunication Services — 0.1%
	Other Securities^*	30,713		986,543
	TOTAL COMMON STOCKS
	(Identified Cost $319,169,872)			667,328,583
MUTUAL FUNDS — 3.7%
Other — 3.7%
	DFA U.S. Micro Cap Portfolio	1,406,441		26,005,081
	TOTAL MUTUAL FUNDS
	(Identified Cost $17,953,982)			26,005,081
SHORT-TERM INVESTMENTS — 0.4%
Investment Company — 0.3%
	State Street Institutional U.S.
	Government Money Market Fund,
	2.27%	2,443,815		2,443,815
Collateral For Securities On Loan — 0.1%
	State Street Navigator Securities
	Lending Government Money Market
	Portfolio, 2.350%	440,686		440,686
	TOTAL SHORT-TERM INVESTMENTS
	(Identified Cost $2,884,501)			2,884,501
Total Investments — 100.0%
	(Identified Cost $340,008,355)			696,218,165
	Liabilities, Less Cash and
	Other Assets — 0.0%			(140,542	)
Net Assets — 100.0%			$	696,077,623

†	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 were held on loan. As of December 31, 2018, the market value of the securities on loan was $8,842,553.

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, 2018 (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, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 99.8%
Aerospace & Defense — 1.2%
	Other Securities^	92,917	$	6,059,929
Air Freight & Logistics — 0.8%
	FedEx Corp.	19,292		3,112,378
	Other Securities^*	15,841		903,571
				4,015,949
Airlines — 1.6%
	Delta Air Lines, Inc.	65,959		3,291,354
	United Continental Holdings, Inc. *	34,619		2,898,649
	Other Securities^	84,570		2,412,396
				8,602,399
Auto Components — 0.8%
	Other Securities^*	113,518		3,975,386
Automobiles — 1.3%
	General Motors Co.	147,663		4,939,327
	Other Securities^	262,281		2,053,884
				6,993,211
Beverages — 0.3%
	Other Securities^	21,011		1,433,360
Biotechnology — 0.1%
	Other Securities^*	3,786		412,295
Building Products — 0.5%
	Other Securities^	70,546		2,453,501
Capital Markets — 2.7%
	Bank of New York Mellon Corp. (The)	82,786		3,896,737
	Goldman Sachs Group, Inc. (The)	29,210		4,879,530
	Morgan Stanley	114,092		4,523,748
	Other Securities^	19,293		564,761
				13,864,776
Chemicals — 1.9%
	DowDuPont, Inc.	55,539		2,970,226
	Other Securities^	119,567		6,847,057
				9,817,283
Commercial Banks — 11.3%
	Bank of America Corp.	419,567		10,338,131
	Citigroup, Inc.	147,662		7,687,284
	JPMorgan Chase & Co.	119,432		11,658,952
	PNC Financial Services Group, Inc. (The)	21,328		2,493,456
	Wells Fargo & Co.	316,262		14,573,353
	Other Securities^	565,690		12,335,629
				59,086,805
Commercial Services & Supplies — 0.6%
	Republic Services, Inc.	40,514		2,920,654
Communications Equipment — 1.1%
	Cisco Systems, Inc.	89,497		3,877,905
	Other Securities^	72,565		2,008,411
				5,886,316
Computers & Peripherals — 1.6%
	HP, Inc.	196,800		4,026,528
	Other Securities^	243,583		4,536,184
				8,562,712
Construction & Engineering — 0.3%
	Other Securities^	51,596		1,789,455
Construction Materials — 0.4%
	Other Securities^	16,239		1,949,888
Consumer Finance — 1.1%
	Capital One Financial Corp.	47,279		3,573,820
	Other Securities^	102,846		2,277,781
				5,851,601
Containers & Packaging — 0.6%
	Other Securities^	71,368		2,999,255
Distributors — 0.2%
	Other Securities^*	47,648		1,130,687
Diversified Financial Services — 2.4%
	Berkshire Hathaway, Inc., Class B *	58,309		11,905,532
	Other Securities^	14,013		403,181
				12,308,713
Diversified Telecommunication Services — 4.4%
	AT&T, Inc.	728,637		20,795,300
	Other Securities^	134,795		2,042,144
				22,837,444
Electrical Equipment — 0.7%
	Eaton Corp. PLC	40,532		2,782,927
	Other Securities^*	25,273		661,270
				3,444,197
Electronic Equipment, Instruments & Components — 1.1%
	Other Securities^	159,644		5,620,978
Energy Equipment & Services — 0.7%
	Other Securities^	131,514		3,695,312
Entertainment — 0.2%
	Other Securities^	37,597		1,088,118
Food & Staples Retailing — 3.0%
	Walgreens Boots Alliance, Inc.	63,418		4,333,352
	Walmart, Inc.	104,402		9,725,046
	Other Securities^*	58,915		1,706,440
				15,764,838

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, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Food Products — 1.9%
	Mondelez International, Inc., Class A	74,783	$	2,993,564
	Other Securities^	121,180		7,142,602
				10,136,166
Health Care Equipment & Supplies — 3.6%
	Abbott Laboratories	80,600		5,829,798
	Danaher Corp.	37,915		3,909,795
	Medtronic PLC	89,026		8,097,805
	Other Securities^	10,560		1,117,368
				18,954,766
Health Care Providers & Services — 6.9%
	Anthem, Inc.	28,740		7,547,986
	Centene Corp. *	22,232		2,563,350
	Cigna Corp. *	31,781		6,035,848
	CVS Health Corp.	125,918		8,250,147
	Humana, Inc.	10,720		3,071,066
	Other Securities^	109,401		8,720,856
				36,189,253
Hotels, Restaurants & Leisure — 1.4%
	Royal Caribbean Cruises Ltd.	26,539		2,595,249
	Other Securities^*	142,328		4,978,668
				7,573,917
Household Durables — 1.5%
	Other Securities^	195,707		7,843,631
Independent Power Producers & Energy Traders — 0.2%
	Other Securities^*	27,096		990,321
Industrial Conglomerates — 0.4%
	Other Securities^	167,166		1,908,196
Insurance — 4.8%
	Aflac, Inc.	53,889		2,455,183
	Travelers Companies, Inc. (The)	27,179		3,254,685
	Other Securities^	358,776		19,601,116
				25,310,984
Internet & Catalog Retail — 0.3%
	Other Securities^*	71,603		1,397,691
IT Services — 1.1%
	Fidelity National Information        Services, Inc.	24,496		2,512,065
	Other Securities^*	59,987		3,303,146
				5,815,211
Life Sciences Tools & Services — 1.2%
	Thermo Fisher Scientific, Inc.	20,616		4,613,655
	Other Securities^*	12,586		1,482,076
				6,095,731
Machinery — 1.7%
	Stanley Black & Decker, Inc.	19,552		2,341,156
	Other Securities^@	94,187		6,577,904
				8,919,060
Media — 4.3%
	Charter Communications, Inc., Class A *	20,137		5,738,441
	Comcast Corp., Class A	428,572		14,592,877
	Other Securities^	85,252		2,033,178
				22,364,496
Metals & Mining — 1.7%
	Nucor Corp.	56,664		2,935,762
	Other Securities^	243,160		5,804,503
				8,740,265
Multi-Utilities — 0.0%
	Other Securities^	5,121		122,085
Multiline Retail — 1.3%
	Other Securities^	113,090		6,565,114
Oil, Gas & Consumable Fuels — 13.4%
	Chevron Corp.	133,248		14,496,050
	ConocoPhillips	97,287		6,065,844
	Exxon Mobil Corp.	285,714		19,482,838
	Marathon Petroleum Corp.	86,058		5,078,283
	Occidental Petroleum Corp.	58,030		3,561,881
	Valero Energy Corp.	60,582		4,541,832
	Other Securities^	554,500		16,485,235
				69,711,963
Personal Products — 0.0%
	Other Securities^@	8,741		57,341
Pharmaceuticals — 4.9%
	Pfizer, Inc.	519,220		22,663,953
	Other Securities^	74,391		2,703,280
				25,367,233
Professional Services — 0.2%
	Other Securities^	29,588		1,050,787
Real Estate Management & Development — 0.2%
	Other Securities^	17,574		1,178,964
Road & Rail — 1.1%
	Norfolk Southern Corp.	27,918		4,174,858
	Other Securities^	16,277		1,724,307
				5,899,165
Semiconductors & Semiconductor Equipment — 5.8%
	Intel Corp.	463,844		21,768,199
	Micron Technology, Inc. *	110,111		3,493,822
	Other Securities^	80,620		4,960,991
				30,223,012

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, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Software — 0.0%
	Other Securities^	3,456	$	155,900
Specialty Retail — 0.4%
	Other Securities^	35,332		1,972,451
Textiles, Apparel & Luxury Goods — 0.3%
	Other Securities^	22,951		1,624,661
Thrifts & Mortgage Finance — 0.0%
	Other Securities^@	8,435		79,373
Wireless Telecommunication Services — 0.3%
	Other Securities^*	54,373		1,726,296
				1,726,296
	TOTAL COMMON STOCKS        (Identified Cost $427,523,735)			520,539,095
SHORT-TERM INVESTMENTS — 0.3%
Investment Company — 0.3%
	State Street Institutional U.S. Government        Money Market Fund, 2.270%	1,455,025		1,455,025
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $1,455,025)			1,455,025
Total Investments — 100.1%         (Identified Cost $428,978,760)				521,994,120
	Liabilities, Less Cash and        Other Assets — (0.1%)			(280,193	)
Net Assets — 100.0%			$	521,713,927

†	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, 2018, the market value of the securities on loan was $2,647,716.

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, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 99.5%
Aerospace & Defense — 1.8%
	Aerojet Rocketdyne Holdings, Inc.*	23,951	$	843,794
	Esterline Technologies Corp.*	7,884		957,512
	Other Securities^*	140,792		4,740,343
				6,541,649
Air Freight & Logistics — 0.4%
	Other Securities^*	55,581		1,576,133
Airlines — 0.5%
	Other Securities^*	50,813		1,790,091
Auto Components — 1.6%
	Other Securities^*	215,699		5,807,768
Automobiles — 0.1%
	Other Securities^	10,998		290,578
Beverages — 0.4%
	Other Securities^*	25,001		1,492,134
Biotechnology — 1.4%
	Other Securities^*	346,108		4,871,189
Building Products — 1.7%
	Trex Co., Inc.*	16,324		968,993
	Other Securities^	189,946		4,939,092
				5,908,085
Capital Markets — 2.1%
	Interactive Brokers Group,
	Inc., Class A	16,151		882,652
	Other Securities^	339,880		6,738,383
				7,621,035
Chemicals — 2.3%
	Other Securities^	314,855		8,336,575
Commercial Banks — 10.9%
	Associated Banc-Corp.	41,516		821,602
	First Financial Bankshares, Inc.@	13,804		796,353
	Sterling Bancorp	50,859		839,682
	TCF Financial Corp.	40,956		798,232
	Other Securities^	1,369,447		35,734,635
				38,990,504
Commercial Services & Supplies — 3.1%
	MSA Safety, Inc.	8,900		839,003
	Tetra Tech, Inc.	15,308		792,495
	Other Securities^	377,977		9,426,288
				11,057,786
Communications Equipment — 1.5%
	Ciena Corp.*	27,004		915,706
	Other Securities^*	241,182		4,415,293
				5,330,999
Computers & Peripherals — 0.3%
	Other Securities^	85,887		1,218,406
Construction & Engineering — 1.4%
	Other Securities^	190,500		4,969,489
Construction Materials — 0.1%
	Other Securities^*@	12,985		386,217
Consumer Finance — 1.2%
	FirstCash, Inc.	13,459		973,759
	Green Dot Corp., Class A*	12,631		1,004,417
	Other Securities^*	163,223		2,462,421
				4,440,597
Containers & Packaging — 0.5%
	Other Securities^*	63,730		1,916,679
Distributors — 0.2%
	Other Securities^	14,658		678,036
Diversified Consumer Services — 1.4%
	Grand Canyon Education, Inc.*	8,480		815,267
	Other Securities^*	132,979		4,259,999
				5,075,266
Diversified Financial Services — 0.3%
	Other Securities^	54,580		1,027,054
Diversified Telecommunication Services — 0.5%
	Other Securities^*	120,482		1,800,050
Electric Utilities — 1.2%
	Allete, Inc.	12,640		963,421
	PNM Resources, Inc.	20,971		861,698
	Other Securities^@	55,624		2,511,787
				4,336,906
Electrical Equipment — 1.1%
	EnerSys	12,065		936,365
	Other Securities^*	111,526		2,853,307
				3,789,672
Electronic Equipment, Instruments & Components — 3.4%
	Littelfuse, Inc.	4,934		846,082
	Other Securities^*	382,205		11,271,776
				12,117,858
Energy Equipment & Services — 1.1%
	Other Securities^*	529,823		4,003,150
Entertainment — 0.4%
	Other Securities^*	210,340		1,501,391
Food & Staples Retailing — 0.5%
	Other Securities^	69,743		1,895,331
Food Products — 1.7%
	Lancaster Colony Corp.	5,159		912,421
	Other Securities^*	157,970		5,064,616
				5,977,037

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, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Gas Utilities — 1.1%
	New Jersey Resources Corp.	19,713	$	900,293
	Spire, Inc.	11,344		840,364
	Other Securities^	43,774		2,361,876
				4,102,533
Health Care Equipment & Supplies — 3.6%
	Globus Medical, Inc., Class A*	18,325		793,106
	Haemonetics Corp.*	12,126		1,213,206
	Other Securities^	261,138		10,741,152
				12,747,464
Health Care Providers & Services — 2.7%
	Amedisys, Inc.*	10,787		1,263,266
	Chemed Corp.	4,206		1,191,476
	Other Securities^	262,695		7,268,882
				9,723,624
Health Care Technology — 0.7%
	Other Securities^	110,588		2,401,279
Hotels, Restaurants & Leisure — 3.6%
	Marriott Vacations Worldwide Corp.	11,562		815,237
	Planet Fitness, Inc. Class A*	14,937		800,922
	Texas Roadhouse, Inc.	17,624		1,052,153
	Other Securities^	406,826		10,125,581
				12,793,893
Household Durables — 1.8%
	Helen of Troy Ltd.*	7,429		974,536
	Other Securities^*	237,680		5,551,350
				6,525,886
Household Products — 0.5%
	WD-40 Co.@	4,702		861,688
	Other Securities^	29,071		1,040,532
				1,902,220
Independent Power Producers & Energy Traders — 0.3%
	Other Securities^	44,364		1,074,042
Industrial Conglomerates — 0.1%
	Other Securities^	10,955		473,657
Insurance — 4.8%
	Kemper Corp.	19,148		1,271,044
	Primerica, Inc.	10,078		984,721
	RLI Corp.	12,592		868,722
	Selective Insurance Group, Inc.	13,673		833,233
	Other Securities^	455,673		13,115,777
				17,073,497
Interactive Media & Services — 0.1%
	Other Securities^*	55,024		504,048
Internet & Catalog Retail — 0.6%
	Other Securities^*	77,245		1,971,771
IT Services — 2.2%
	CACI International, Inc., Class A*	6,111		880,167
	Liveramp Hldgs, Inc.*	28,195		1,089,173
	Other Securities^*	261,626		6,058,230
				8,027,570
Leisure Equipment & Products — 0.4%
	Other Securities^*	81,366		1,295,699
Life Sciences Tools & Services — 0.4%
	Other Securities^*	58,092		1,433,527
Machinery — 5.1%
	Other Securities^*	592,827		18,124,817
Marine — 0.2%
	Other Securities^	28,663		739,429
Media — 1.6%
	New York Times Co. (The), Class A@	39,959		890,686
	Nexstar Media Group, Inc.@	11,553		908,528
	Other Securities^*@	209,916		4,000,761
				5,799,975
Metals & Mining — 1.5%
	Other Securities^	431,106		5,266,193
Multi-Utilities — 0.8%
	Avista Corp.	25,390		1,078,567
	Other Securities^	33,293		1,795,649
				2,874,216
Multiline Retail — 0.2%
	Other Securities^*@	67,585		841,148
Oil, Gas & Consumable Fuels — 2.7%
	Other Securities^*	1,043,028		9,568,702
Paper & Forest Products — 0.7%
	Other Securities^*	111,376		2,411,278
Personal Products — 0.8%
	Other Securities^*	75,812		3,032,113
Pharmaceuticals — 0.8%
	Other Securities^*@	192,529		2,713,489
Professional Services — 2.1%
	Asgn, Inc.*	15,403		839,464
	Insperity, Inc.	11,400		1,064,304
	Other Securities^*	190,404		5,535,240
				7,439,008
Real Estate Management & Development — 0.6%
	Other Securities^*	109,798		2,156,833
Road & Rail — 0.9%
	Other Securities^*	122,213		3,092,063

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, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Semiconductors & Semiconductor Equipment — 3.4%
	Entegris, Inc.	31,223	$	870,966
	Integrated Device Technology, Inc.*	21,680		1,049,962
	Silicon Laboratories, Inc.*	10,644		838,854
	Other Securities^	468,466		9,315,554
				12,075,336
Software — 2.5%
	ACI Worldwide, Inc.*	29,488		815,933
	Other Securities^*	249,326		8,089,632
				8,905,565
Specialty Retail — 3.4%
	American Eagle Outfitters, Inc.	43,288		836,757
	Five Below, Inc.*	13,253		1,356,047
	Other Securities^*	542,671		9,944,178
				12,136,982
Textiles, Apparel & Luxury Goods — 1.3%
	Deckers Outdoor Corp.*	7,708		986,239
	Wolverine World Wide, Inc.	26,290		838,388
	Other Securities^*	110,138		2,952,431
				4,777,058
Thrifts & Mortgage Finance — 2.1%
	Other Securities^	431,350		7,548,168
Tobacco — 0.2%
	Other Securities^@	49,117		757,423
Trading Companies & Distributors — 1.5%
	GATX Corp.@	11,502		814,457
	Other Securities^*	183,186		4,661,138
				5,475,595
Water Utilities — 0.7%
	Other Securities^	51,683		2,510,376
Wireless Telecommunication Services — 0.4%
	Other Securities^*	49,545		1,550,079
	TOTAL COMMON STOCKS        (Identified Cost $267,007,460)			356,594,221
RIGHTS AND WARRANTS — 0.0%
Capital Markets — 0.0%
	Newsstar Financial, Inc. CVR*§¶	13,144		3,412
Media — 0.0%
	Media General, Inc. CVR*§¶	3,965		—
Pharmaceuticals — 0.0%
	FRD Acquisition Co. CVR*§~¶	656		—
	TOTAL RIGHTS AND WARRANTS        (Identified Cost $3,412)			3,412
PREFERRED STOCKS — 0.0%
Media — 0.0%
	GCI Liberty, Inc., 5.000%*	1,826		44,244
	TOTAL PREFERRED STOCKS        (Identified Cost $7,177)			44,244
SHORT-TERM INVESTMENTS — 1.3%
Investment Company — 0.2%
	State Street Institutional U.S.        Government Money Market Fund,        2.27%	578,745		578,745
Collateral For Securities On Loan — 1.1%
	State Street Navigator Securities        Lending Government Money Market        Portfolio, 2.350%	3,912,946		3,912,946
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $4,491,691)			4,491,691
	Total Investments — 100.8%        (Identified Cost $271,509,740)			361,133,568
	Liabilities, Less Cash and        Other Assets — (0.8%)			(2,845,911	)
	Net Assets — 100.0%		$	358,287,657

†	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 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 were held on loan. As of December 31, 2018, the market value of the securities on loan was $32,629,026.
§	Fair valued security. Fair values are determined pursuant to procedures approved by the Fund’s Board of Trustees. See Note 1
~	Bankrupt/delisted security
¶	Contingent value rights based on future performance.

Key to abbreviations:
CVR — Contingent Value Rights

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, 2018 (Unaudited) (Continued)

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, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 98.1%
Australia — 5.4%
	Australia & New Zealand        Banking Group Ltd.	572,127	$	9,856,831
	National Australia Bank Ltd.	182,564		3,095,136
	Woodside Petroleum Ltd.	139,201		3,070,807
	Other Securities^	4,529,449		18,360,745
				34,383,519
Austria — 0.1%
	Other Securities^	30,729		854,541
Belgium — 1.2%
	Other Securities^	117,189		7,494,583
Canada — 8.1%
	Bank of Montreal	82,735		5,406,732
	Canadian Natural Resources Ltd.	157,720		3,805,784
	Suncor Energy, Inc.¥	217,673		6,079,601
	Suncor Energy, Inc.	26,634		744,953
	Teck Resources Ltd., Class B¥	75,600		1,627,515
	Teck Resources Ltd., Class B	94,542		2,036,435
	Other Securities^	2,280,185		31,228,552
				50,929,572
Denmark — 1.5%
	Vestas Wind Systems A/S	37,580		2,837,891
	Other Securities^@*	138,108		6,776,371
				9,614,262
Finland — 1.2%
	Other Securities^	677,384		7,852,416
France — 9.8%
	AXA SA	161,385		3,486,973
	BNP Paribas SA	87,085		3,938,721
	Cie Generale des        Etablissements Michelin	33,408		3,318,634
	Orange SA	348,263		5,648,159
	Peugeot SA	170,171		3,635,278
	Total SA	373,311		19,752,154
	Other Securities^	1,057,652		22,087,566
				61,867,485
Germany — 6.7%
	Bayer AG	46,853		3,250,970
	Bayerische Motoren Werke AG	67,669		5,481,494
	Daimler AG	181,311		9,537,206
	Deutsche Telekom AG	239,461		4,066,050
	RWE AG	148,476		3,226,256
	Other Securities^	874,714		16,565,247
				42,127,223
Hong Kong — 3.3%
	CK Hutchison Holdings Ltd.	414,624		3,981,831
	Sun Hung Kai Properties Ltd.	198,677		2,831,537
	Other Securities^	5,792,220		14,231,809
				21,045,177
Ireland — 0.8%
	Linde PLC*	17,959		2,850,877
	Other Securities^	203,705		2,307,713
				5,158,590
Israel — 0.4%
	Other Securities^	379,268		2,387,328
Italy — 1.4%
	Other Securities^	5,812,319		8,804,159
Japan — 23.0%
	Hitachi Ltd.	137,100		3,671,886
	Honda Motor Co., Ltd.	271,700		7,175,180
	Mitsubishi Corp.	136,600		3,763,806
	Mitsubishi UFJ Financial        Group, Inc., ADR	730,318		3,556,649
	Nissan Motor Co., Ltd.	426,800		3,427,873
	Sumitomo Mitsui Financial        Group, Inc.	187,900		6,248,762
	Toyota Motor Corp.	216,490		12,653,026
	Toyota Motor Corp., ADR	38,241		4,439,015
	Other Securities^	10,237,185		100,185,837
				145,122,034
Luxembourg — 0.2%
	Other Securities^	60,528		1,158,837
Netherlands — 3.6%
	ING Groep NV	386,479		4,166,825
	Koninklijke Ahold Delhaize NV	285,058		7,209,808
	Koninklijke DSM NV	37,473		3,067,253
	Other Securities^	507,822		8,199,702
				22,643,588
New Zealand — 0.2%
	Other Securities^	361,828		1,316,474
Norway — 0.9%
	Other Securities^	660,550		5,745,147
Portugal — 0.1%
	Other Securities^	446,935		288,367
Singapore — 1.0%
	Other Securities^	2,860,301		6,551,292

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

SA International Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
South Africa — 0.0%
	Other Securities^	116,789	$	174,344
Spain — 2.6%
	Banco Santander SA	2,235,943		10,178,154
	Repsol SA	221,785		3,577,870
	Other Securities^	1,429,480		2,647,752
				16,403,776
Sweden — 2.4%
	Other Securities^	1,502,644		15,229,297
Switzerland — 8.4%
	Cie Financiere Richemont SA	65,945		4,226,814
	Novartis AG	155,578		13,302,243
	UBS Group AG*	385,713		4,801,301
	Zurich Insurance Group AG	26,257		7,829,817
	Other Securities^	444,303		22,555,516
				52,715,691
United Kingdom — 15.5%
	Anglo American PLC	234,151		5,216,288
	Aviva PLC	863,288		4,131,802
	BP PLC, ADR	437,135		16,576,159
	British American Tobacco PLC	98,463		3,137,523
	Glencore PLC*	1,525,021		5,663,236
	HSBC Holdings PLC, ADR@	271,854		11,175,918
	Lloyds Banking Group PLC	9,063,876		5,990,134
	Royal Dutch Shell PLC,        ADR, Class A	155,739		9,074,912
	Royal Dutch Shell PLC,        ADR, Class B	179,658		10,768,700
	Vodafone Group PLC	4,677,355		9,115,524
	Other Securities^	3,515,311		17,303,858
				98,154,054
United States — 0.3%
	Other Securities^	27,024		1,574,127
	TOTAL COMMON STOCKS         (Identified Cost $650,359,928)			619,595,883
PREFERRED STOCKS — 1.3%
Germany — 1.3%
	Volkswagen AG, 2.680%	37,559		5,978,174
	Other Securities^	28,411		1,814,332
				7,792,506
	TOTAL PREFERRED STOCKS        (Identified Cost $10,884,972)			7,792,506
RIGHTS AND WARRANTS — 0.0%
Spain — 0.0%
	Other Securities^*	225,702		103,439
	TOTAL RIGHTS AND WARRANTS        (Identified Cost $105,922)			103,439
SHORT-TERM INVESTMENTS — 1.7%
Collateral For Securities On Loan — 1.7%
	State Street Navigator Securities        Lending Government Money       Market Portfolio, 2.350%	10,961,837		10,961,837
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $10,961,837)			10,961,837
Total Investments — 101.1%
	(Identified Cost $672,312,659)			638,453,665
	Liabilities, Less Cash and Other        Assets — (1.1%)			(6,823,413	)
Net Assets — 100.0%			$	631,630,252

†	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 were held on loan. As of December 31, 2018, the market value of the securities on loan was $19,723,561.
*	Non-income producing security
¥	Traded on the Canada, Toronto Stock Exchange.

Key to abbreviations:
ADR — American Depository Receipt
CAD — Canadian Dollar
EUR — Euro Currency
GBP — British Pound
HKD — Hong Kong Dollar
SEK — Swedish Krona

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

SA International Value Fund

SUMMARY PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

Ten largest industry holdings as of December 31, 2018
(As a percentage of net assets):

Industry	Percentage
Commercial Banks		18.4%
Oil, Gas & Consumable Fuels		13.7%
Automobiles		9.5%
Insurance		8.0%
Metals & Mining		6.7%
Chemicals		4.1%
Pharmaceuticals		4.0%
Real Estate Management & Development		2.8%
Diversified Telecommunication Services		2.6%
Food & Staples Retailing		2.3%

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, 2018 (Unaudited)

		SHARES	VALUE†
MUTUAL FUNDS — 99.9%
Other — 99.9%
	DFA International Small        Company Portfolio £	18,043,082	$	287,426,304
	TOTAL MUTUAL FUNDS        (Identified Cost $219,082,946)			287,426,304
Total Investments — 99.9%
	(Identified Cost $219,082,946)			287,426,304
	Cash and Other Assets,        Less Liabilities — 0.1%			311,748
Net Assets — 100.0%			$	287,738,052

†	See Note 1
£	Please refer to the Portfolio of Investments of the DFA International Small Company Portfolio included elsewhere in this report.

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, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 98.0%
Brazil — 7.4%
	Banco Bradesco SA, ADR	100,458	$	993,530
	Banco do Brasil SA	74,244		890,564
	Petroleo Brasileiro SA	386,643		2,533,892
	Vale SA	516,592		6,797,702
	Other Securities^@	856,794		3,733,968
				14,949,656
Chile — 1.2%
	Other Securities^@	16,714,389		2,405,912
China — 17.3%
	Agricultural Bank of China Ltd.,        H Shares	1,814,000		794,588
	Bank of China Ltd., H Shares	4,025,902		1,737,762
	China Construction Bank Corp.,        H Shares	5,913,810		4,878,771
	China Mobile Ltd.	385,000		3,704,712
	China Overseas Land &        Investment Ltd.	338,000		1,161,126
	China Petroleum & Chemical Corp.,        H Shares	2,062,400		1,472,296
	China Resources Land Ltd.	246,000		945,610
	CNOOC Ltd.	1,424,000		2,200,421
	Industrial & Commercial        Bank of China Ltd., H Shares	4,351,000		3,106,071
	PetroChina Co., Ltd., H Shares	1,800,000		1,121,767
	Other Securities^@	30,262,823		13,906,889
				35,030,013
Colombia — 0.3%
	Other Securities^	188,577		737,599
Czech Republic — 0.2%
	Other Securities^	20,203		481,211
Greece — 0.1%
	Other Securities^	77,333		161,221
Hungary — 0.3%
	Other Securities^	44,968		565,054
India — 13.5%
	Axis Bank Ltd.*	134,335		1,192,785
	Bharti Airtel Ltd.	223,068		997,839
	ICICI Bank Ltd., ADR	82,445		848,359
	Larsen & Toubro Ltd.	16,714		341,801
	Larsen & Toubro Ltd.	25,272		521,259
	Mahindra & Mahindra Ltd.	73,676		849,308
	Reliance Industries Ltd.	354,872		5,719,684
	Reliance Industries Ltd., GDR±	28,624		911,674
	Other Securities^@	5,833,743		16,046,918
				27,429,627
Indonesia — 2.4%
	Other Securities^*	54,778,259		4,816,311
Korea — 17.3%
	Hana Financial Group, Inc.	46,863		1,522,480
	Hyundai Motor Co.	17,619		1,871,170
	KB Financial Group, Inc., ADR*	50,104		2,103,366
	Kia Motors Corp.	32,165		971,465
	LG Electronics, Inc.*@	16,873		942,093
	POSCO, ADR	51,211		2,813,532
	Samsung Life Insurance Co., Ltd.	11,156		815,854
	Shinhan Financial Group Co.,        Ltd., ADR*@	38,643		1,371,440
	SK Innovation Co., Ltd.	11,354		1,826,531
	Woori Bank*@	57,755		807,473
	Other Securities^*	1,195,244		20,048,674
				35,094,078
Malaysia — 2.7%
	CIMB Group Holdings Bhd	835,824		1,154,883
	Other Securities^	10,372,981		4,390,802
				5,545,685
Mexico — 3.2%
	Grupo Financiero Banorte SAB de CV	224,444		1,095,623
	Grupo Mexico SAB de CV, Series B	472,560		975,575
	Other Securities^@	3,638,223		4,419,619
				6,490,817
Philippines — 1.2%
	Other Securities^	8,338,456		2,376,687
Poland — 1.7%
	Polski Koncern Naftowy Orlen SA	34,685		1,002,360
	Other Securities^*	476,106		2,370,836
				3,373,196
Russia — 2.2%
	Gazprom PAO, ADR	279,913		1,239,735
	Lukoil PJSC, ADR	37,639		2,690,436
	Other Securities^	233,412		528,784
				4,458,955
Singapore — 0.0%
	Other Securities^*	905		4,740
South Africa — 6.8%
	Absa Group Ltd.	90,077		1,013,120
	MTN Group Ltd.	258,486		1,598,975
	Sasol Ltd., ADR	34,337		1,005,731
	Standard Bank Group Ltd.	200,112		2,487,022
	Other Securities^@	3,674,241		7,732,431
				13,837,279

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, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Taiwan — 16.1%
	Cathay Financial Holding Co., Ltd.	1,181,000	$	1,805,869
	China Steel Corp.	2,044,800		1,613,248
	CTBC Financial Holding Co., Ltd.	2,578,280		1,694,416
	Fubon Financial Holding Co., Ltd.	1,119,211		1,713,208
	Hon Hai Precision Industry Co., Ltd.	1,145,068		2,637,564
	Mega Financial Holding Co., Ltd.	1,149,850		970,772
	Other Securities^@	36,767,034		22,134,532
				32,569,609
Thailand — 3.2%
	PTT PCL	1,214,300		1,715,534
	Other Securities^	9,593,601		4,764,567
				6,480,101
Turkey — 0.9%
	Other Securities^*	1,726,455		1,762,135
	TOTAL COMMON STOCKS        (Identified Cost $205,339,074)			198,569,886
PREFERRED STOCKS — 1.8%
Brazil — 1.7%
	Petroleo Brasileiro SA, 0.380%	325,907		1,907,133
	Petroleo Brasileiro SA, ADR, 0.360%	99,174		1,149,427
	Other Securities^	159,670		443,529
				3,500,089
Colombia — 0.1%
	Other Securities^	66,621		199,883
Korea — 0.0%
	Other Securities^*§	252		8,281
	TOTAL PREFERRED STOCKS        (Identified Cost $3,226,663)			3,708,253
RIGHTS AND WARRANTS — 0.0%
Brazil — 0.0%
	Other Securities^*	1,569		348
Indonesia — 0.0%
	Other Securities^*	207,566		2,310
Malaysia — 0.0%
	Other Securities^*§~	1,368,547		—
	TOTAL RIGHTS AND WARRANTS        (Identified Cost $0)			2,658
SHORT-TERM INVESTMENTS — 1.0%
Collateral For Securities On Loan — 1.0%
	State Street Navigator Securities        Lending Government Money        Market Portfolio, 2.350%	1,994,409		1,994,409
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $1,994,409)			1,994,409
Total Investments — 100.8%         (Identified Cost $210,560,146)				204,275,206
	Liabilities, Less Cash and        Other Assets — (0.8%)			(1,668,700	)
Net Assets — 100.0%			$	202,606,506

†	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 (if applicable) were held on loan. As of December 31, 2018, the market value of the securities on loan was $4,006,071.
§	Fair valued security. Fair values are determined pursuant to procedures approved by the Fund’s Board of Trustees. See Note 1.
*	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, 2018 amounted to $1,498,904 or 0.74% of the net assets of the Fund.
~	Bankrupt/delisted security.

Key to abbreviations:
ADR — American Depository Receipt
GDR — Global Depository Receipt

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

Ten largest industry holdings as of December 31, 2018
(As a percentage of net assets):

Industry	Percentage
Commercial Banks		24.1	%
Oil, Gas & Consumable Fuels		15.4	%
Metals & Mining		10.3	%
Insurance		3.8	%
Real Estate Management & Development		3.7	%
Electronic Equipment, Instruments & Components		3.6	%
Chemicals		3.3	%
Wireless Telecommunication Services		3.3	%
Industrial Conglomerates		2.6	%
Automobiles		2.5	%

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, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 99.0%
Real Estate Investment Trusts (REITs) — 99.0%
	Acadia Realty Trust	17,192	$	408,482
	Agree Realty Corp.	5,261		311,030
	Alexander’s, Inc.	518		157,855
	Alexandria Real Estate Equities, Inc.	19,597		2,258,358
	American Assets Trust, Inc.	7,215		289,827
	American Campus Communities, Inc.	26,881		1,112,605
	American Homes 4 Rent., Class A	47,061		934,161
	American Tower Corp.	82,366		13,029,478
	Apartment Investment &        Management Co., Class A	29,561		1,297,137
	Apple Hospitality REIT, Inc.	34,482		491,713
	Ashford Hospitality Trust, Inc.	19,998		79,992
	AvalonBay Communities, Inc.	25,846		4,498,496
	Bluerock Residential Growth REIT, Inc.@	3,300		29,766
	Boston Properties, Inc.	29,148		3,280,607
	Braemar Hotels & Resorts, Inc.	7,756		69,261
	Brandywine Realty Trust	36,490		469,626
	Brixmor Property Group, Inc.	58,096		853,430
	Brookfield Property REIT, Inc., Class A	24,064		387,430
	BRT Apartments Corp.	400		4,576
	Camden Property Trust	17,972		1,582,435
	CareTrust REIT, Inc.	13,238		244,373
	CBL & Associates Properties, Inc.@	34,365		65,981
	Cedar Realty Trust, Inc.	17,672		55,490
	Chatham Lodging Trust	8,674		153,356
	Chesapeake Lodging Trust	12,036		293,077
	City Office REIT, Inc.	5,176		53,054
	Clipper Realty, Inc.	1,167		15,253
	Columbia Property Trust, Inc.	22,363		432,724
	Community Healthcare Trust, Inc.	3,480		100,328
	Condor Hospitality Trust, Inc.	1,057		7,283
	CorePoint Lodging, Inc.	7,863		96,322
	CoreSite Realty Corp.	6,741		588,017
	Corporate Office Properties Trust	20,988		441,378
	Cousins Properties, Inc.	75,003		592,524
	Crown Castle International Corp.	77,575		8,426,972
	CubeSmart	36,747		1,054,271
	CyrusOne, Inc.	18,096		956,916
	DiamondRock Hospitality Co.	42,024		381,578
	Digital Realty Trust, Inc.	38,871		4,141,705
	Douglas Emmett, Inc.	31,790		1,084,993
	Duke Realty Corp.	67,964		1,760,268
	Easterly Government Properties, Inc.	7,937		124,452
	EastGroup Properties, Inc.	7,099		651,191
	Empire State Realty Trust, Inc., Class A	25,972		369,582
	EPR Properties	14,464		926,130
	Equinix, Inc.	15,210		5,362,438
	Equity Commonwealth	23,500		705,235
	Equity LifeStyle Properties, Inc.	16,346		1,587,687
	Equity Residential	69,277		4,572,975
	Essex Property Trust, Inc.	12,559		3,079,592
	Extra Space Storage, Inc.	23,652		2,140,033
	Federal Realty Investment Trust	14,087		1,662,829
	First Industrial Realty Trust, Inc.	24,980		720,923
	Four Corners Property Trust, Inc.	10,646		278,925
	Franklin Street Properties Corp.	22,915		142,760
	Front Yard Residential Corp.	1,000		8,730
	Gaming & Leisure Properties, Inc.	38,980		1,259,444
	Getty Realty Corp.	6,637		195,194
	Gladstone Commercial Corp.	5,964		106,875
	Global Medical REIT, Inc.	5,127		45,579
	Global Net Lease, Inc.@	8,289		146,052
	Global Self Storage, Inc.	1,614		6,327
	Government Properties Income Trust	17,229		118,363
	HCP, Inc.	90,208		2,519,509
	Healthcare Realty Trust, Inc.	24,902		708,213
	Healthcare Trust of America, Inc.,        Class A	36,588		926,042
	Hersha Hospitality Trust	9,632		168,945
	Highwoods Properties, Inc.	20,416		789,895
	Hospitality Properties Trust	32,098		766,500
	Host Hotels & Resorts, Inc.	140,913		2,349,020
	Hudson Pacific Properties, Inc.	28,880		839,253
	Independence Realty Trust, Inc.	13,010		119,432
	Industrial Logistics Properties Trust	7,873		154,858
	Investors Real Estate Trust	2,612		128,151
	Invitation Homes, Inc.	57,455		1,153,696
	Iron Mountain, Inc.	50,344		1,631,649
	JBG SMITH Properties	20,067		698,532
	Kilroy Realty Corp.	18,991		1,194,154
	Kimco Realty Corp.	81,395		1,192,437
	Kite Realty Group Trust	19,357		272,740
	Lamar Advertising Co., Class A	14,799		1,023,795
	Lexington Realty Trust	43,983		361,100
	Liberty Property Trust	28,605		1,197,977
	Life Storage, Inc.	8,992		836,166
	LTC Properties, Inc.	8,419		350,904
	Macerich Co. (The)	20,604		891,741
	Mack-Cali Realty Corp.	19,584		383,651
	MedEquities Realty Trust, Inc.	3,453		23,619
	Medical Properties Trust, Inc.	62,700		1,008,216
	MGM Growth Properties LLC,        Class A	10,817		285,677
	Mid-America Apartment        Communities, Inc.	21,282		2,036,687
	Monmouth Real Estate        Investment Corp., Class A	14,037		174,059
	National Health Investors, Inc.	8,220		620,939
	National Retail Properties, Inc.	30,083		1,459,326
	National Storage Affiliates Trust	6,683		176,832
	New Senior Investment Group, Inc.	17,592		72,479
	NexPoint Residential Trust, Inc.	2,800		98,140
	NorthStar Realty Europe Corp.	7,232		105,153
	Omega Healthcare Investors, Inc.	38,695		1,360,129
	One Liberty Properties, Inc.	2,871		69,536
	Outfront Media, Inc.	21,750		394,110
	Paramount Group, Inc.	35,556		446,583
	Park Hotels & Resorts, Inc.	36,153		939,255
	Pebblebrook Hotel Trust	28,424		804,683
	Pennsylvania REIT@	14,993		89,058
	Physicians Realty Trust	30,813		493,932
	Piedmont Office Realty Trust, Inc.,        Class A	25,747		438,729
	Prologis, Inc.	117,693		6,910,933

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

SA Real Estate Securities Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Real Estate Investment Trusts (REITs) (Continued)
	PS Business Parks, Inc.	3,963	$	519,153
	Public Storage	29,345		5,939,721
	QTS Realty Trust, Inc., Class A	8,920		330,486
	Realty Income Corp.	54,772		3,452,827
	Regency Centers Corp.	29,107		1,707,999
	Retail Opportunity Investments Corp	24,585		390,410
	Retail Properties of America, Inc.,        Class A	42,468		460,778
	Retail Value, Inc.	3,528		90,282
	Rexford Industrial Realty, Inc.	14,363		423,278
	RLJ Lodging Trust	34,277		562,143
	RPT Realty	18,901		225,867
	Ryman Hospitality Properties	8,989		599,476
	Sabra Healthcare REIT, Inc.@	34,437		567,522
	Saul Centers, Inc.	3,327		157,101
	SBA Communications Corp.*	21,516		3,483,225
	Select Income REIT	15,667		115,309
	Senior Housing Properties Trust	46,083		540,093
	Seritage Growth Properties, Class A@	3,826		123,695
	Simon Property Group, Inc.	57,824		9,713,854
	SITE Centers Corp.	32,011		354,362
	SL Green Realty Corp.	16,253		1,285,287
	Sotherly Hotels, Inc.	3,111		17,453
	Spirit MTA REIT	9,141		65,175
	Spirit Realty Capital, Inc.	16,556		583,599
	STAG Industrial, Inc.	17,549		436,619
	STORE Capital Corp.	32,622		923,529
	Summit Hotel Properties, Inc.	21,227		206,539
	Sun Communities, Inc.	15,419		1,568,267
	Sunstone Hotel Investors, Inc.	44,279		576,070
	Tanger Factory Outlet Centers, Inc.@	18,139		366,771
	Taubman Centers, Inc.	12,253		557,389
	Terreno Realty Corp.	10,190		358,382
	Tier REIT, Inc.	5,166		106,575
	UDR, Inc.	51,689		2,047,918
	UMH Properties, Inc.	5,369		63,569
	Uniti Group, Inc.*	27,583		429,467
	Universal Health Realty Income Trust	3,094		189,879
	Urban Edge Properties	22,808		379,069
	Urstadt Biddle Properties, Inc.	1,000		15,100
	Urstadt Biddle Properties, Inc.,        Class A	6,307		121,221
	Ventas, Inc.	66,696		3,907,719
	VEREIT, Inc.	186,883		1,336,213
	Vornado Realty Trust	32,962		2,044,633
	Washington Prime Group, Inc.@	43,142		209,670
	Washington REIT	16,908		388,884
	Weingarten Realty Investors	24,329		603,603
	Welltower, Inc.	70,758		4,911,313
	Wheeler Real Estate Investment        Trust, Inc.@	1,401		1,248
	Whitestone REIT	7,118		87,267
	WP Carey, Inc.	21,999		1,437,415
	Xenia Hotels & Resorts, Inc.	18,403		316,532
				170,669,835
	TOTAL COMMON STOCKS        (Identified Cost $123,145,469)			170,669,835
SHORT-TERM INVESTMENTS — 0.6%
Investment Company — 0.5%
	State Street Institutional U.S. Government        Money Market Fund, 2.270%	1,007,110		1,007,110
Collateral For Securities On Loan — 0.1%
	State Street Navigator Securities        Lending Government Money        Market Portfolio 2.350%	106,301		106,301
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $1,113,411)			1,113,411
Total Investments — 99.6%         (Identified Cost $124,258,880)				171,783,246
	Cash and Other Assets,        Less Liabilities — 0.4%			652,181
Net Assets — 100.0%			$	172,435,427

†	See Note 1
@	A portion or all of the security were held on loan. As of December 31, 2018, the market value of the securities on loan was $1,173,672.
*	Non-income producing security.

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, 2018 (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, 2018 (Unaudited)

		SHARES	VALUE†
MUTUAL FUNDS — 99.9%
Other — 99.9%
	SA Emerging Markets Value Fund€	370,518	$	3,419,881
	SA Global Fixed Income Fund€	470,358		4,454,290
	SA International Value Fund€	635,023		6,350,234
	SA Real Estate Securities Fund€	157,544		1,646,339
	SA U.S. Core Market Fund€	283,535		5,911,695
	SA U.S. Fixed Income Fund€	406,648		4,103,075
	SA U.S. Small Company Fund€	131,561		2,895,656
	SA U.S. Value Fund€	303,564		4,544,355
				33,325,525
	TOTAL MUTUAL FUNDS        (Identified Cost $34,983,398)			33,325,525
Total Investments — 99.9%        (Identified Cost $34,983,398)				33,325,525
	Cash and Other Assets,        Less Liabilities — 0.1%			18,136
Net Assets — 100.0%			$	33,343,661

†	See Note 1
€	Affiliated company

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

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STATEMENTS OF ASSETS AND LIABILITIES — DECEMBER 31, 2018 (Unaudited)

		SA			SA			SA
		U.S. Fixed			Global Fixed			U.S. Core
		Income Fund			Income Fund			Market Fund
ASSETS
	Investments in unaffiliated securities, at value	$	617,983,316		$	740,928,768		$	696,218,165
	Cash		—			—			47,599
	Foreign currency, at value		—			2,526			—
	Receivable for investments sold		—			—			212,315
	Dividends and interest receivable		3,397,078			4,059,526			706,800
	Receivable for fund shares sold		930,501			1,279,491			1,310,671
	Unrealized appreciation on forward foreign        currency exchange contracts (Note 1)		—			6,174,289			—
	Receivable from the Adviser (Note 2)		—			—			—
	Receivable for tax reclaims		—			—			—
	Prepaid expenses		30,276			32,463			31,066
	Other assets		—			—			688
	Total Assets		622,341,171			752,477,063			698,527,304
LIABILITIES
	Payable for investments purchased		—			—			690,018
	Payable for fund shares redeemed		772,789			985,905			849,230
	Due to custodian bank		—			—			—
	Collateral for securities on loan (Note 1)		—			14,592,098			440,686
	Unrealized depreciation on forward foreign        currency exchange contracts (Note 1)		—			536,565			—
	Advisory fee payable (Note 2)		79,444			157,025			245,797
	Sub-Advisory fee payable (Note 2)		15,889			18,843			18,435
	Administration fee payable (Note 2)		52,963			62,810			61,449
	Sub-Administration fee payable (Note 2)		9,461			11,227			12,652
	Custody and accounting fees payable		14,264			23,009			20,825
	Shareholder servicing fee payable (Note 2)		47,469			56,248			58,645
	Transfer agent fee payable		12,567			13,214			15,157
	Professional fees payable		14,787			18,947			18,978
	Accrued expenses and other liabilities		16,010			19,531			17,809
	Total Liabilities		1,035,643			16,495,422			2,449,681
NET ASSETS		$	621,305,528		$	735,981,641		$	696,077,623
NET ASSETS CONSIST OF:
	Paid-in capital	$	627,158,932		$	747,002,336		$	332,913,141
	Total distributable earnings (loss)(1)		(5,853,404	)		(11,020,695	)		363,164,482
NET ASSETS		$	621,305,528		$	735,981,641		$	696,077,623
INVESTOR CLASS SHARES
	Net Assets	$	123,000,089		$	145,542,779		$	157,644,277
	Shares of beneficial interest outstanding        ($0.01 par value, unlimited shares authorized)		12,177,341			15,308,632			7,526,894
	Net asset value per share	$	10.10		$	9.51		$	20.94
SELECT CLASS SHARES
	Net Assets	$	498,305,439		$	590,438,862		$	538,433,346
	Shares of beneficial interest outstanding        ($0.01 par value, unlimited shares authorized)		49,372,702			62,353,919			25,818,945
	Net asset value per share	$	10.09		$	9.47		$	20.85
Identified cost of unaffiliated investments		$	618,034,094		$	761,836,599		$	340,008,355
Cost of foreign currency		$	—		$	2,519		$	—
	(1)Net of deferred capital gain country tax of:	$	—		$	—		$	—

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

SA		SA		SA			SA International		SA			SA
U.S. Value		U.S. Small		International			Small Company		Emerging Markets			Real Estate
Fund		Company Fund		Value Fund			Fund		Value Fund			Securities Fund
$	521,994,120	$	361,133,568	$	638,453,665		$	287,426,304	$	204,275,206		$	171,783,246
	8,973		23,488		—			—		—			—
	—		—		87,365			—		497,072			—
	321,690		1,684,695		2,932,780			1,334,000		231,014			—
	658,015		353,538		924,362			—		207,843			1,033,322
	1,305,054		986,226		1,727,011			787,178		409,178			294,814
	—		—		—			—		—			—
	—		—		—			733		44,387			6,689
	—		—		1,342,769			—		197			—
	29,953		27,633		30,928			26,675		24,022			23,386
	—		—		—			—		—			—
	524,317,805		364,209,148		645,498,880			289,574,890		205,688,919			173,141,457
	1,572,737		1,368,206		106,284			—		32,224			303,293
	642,342		306,948		1,250,242			348,396		405,290			159,577
	—		—		994,883			1,333,587		248,684			—
	—		3,912,946		10,961,837			—		1,994,409			106,301
	—		—		—			—		—			—
	185,262		127,053		247,396			62,462		77,987			53,896
	46,315		79,407		109,954			—		81,453			15,399
	46,315		31,763		54,977			24,985		17,330			15,399
	10,318		7,061		14,824			7,382		4,515			2,084
	13,042		17,385		31,811			3,989		47,370			6,494
	43,585		29,911		49,542			23,314		15,331			14,008
	14,801		14,700		15,140			14,633		13,299			13,643
	15,263		15,398		17,595			15,972		19,825			12,610
	13,898		10,713		14,143			2,118		124,696			3,326
	2,603,878		5,921,491		13,868,628			1,836,838		3,082,413			706,030
$	521,713,927	$	358,287,657	$	631,630,252		$	287,738,052	$	202,606,506		$	172,435,427
$	416,080,423	$	265,361,278	$	677,190,667		$	234,682,507	$	210,418,400		$	126,711,357
	105,633,504		92,926,379		(45,560,415	)		53,055,545		(7,811,894	)		45,724,070
$	521,713,927	$	358,287,657	$	631,630,252		$	287,738,052	$	202,606,506		$	172,435,427
$	114,858,987	$	78,872,466	$	126,486,960		$	62,308,729	$	38,765,422		$	35,246,827
	7,639,036		3,574,826		12,601,387			3,530,555		4,193,678			3,359,480
$	15.04	$	22.06	$	10.04		$	17.65	$	9.24		$	10.49
$	406,854,940	$	279,415,191	$	505,143,292		$	225,429,323	$	163,841,084		$	137,188,600
	27,180,219		12,691,691		50,533,138			12,838,849		17,750,106			13,122,914
$	14.97	$	22.02	$	10.00		$	17.56	$	9.23		$	10.45
$	428,978,760	$	271,509,740	$	672,312,659		$	219,082,946	$	210,560,146		$	124,258,880
$	—	$	—	$	87,502		$	—	$	495,248		$	—
$	—	$	—	$	—		$	—	$	121,064		$	—

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

STATEMENTS OF ASSETS AND LIABILITIES — DECEMBER 31, 2018 (Unaudited) (Continued)

	SA Worldwide
	Moderate
	Growth Fund
ASSETS
Investments in affiliated securities, at value	$	33,325,525
Receivable for fund shares sold		8,985
Receivable from the Adviser (Note 2)		15,609
Prepaid expenses		21,372
Total Assets		33,371,491
LIABILITIES
Payable for investments purchased		2,025
Payable for fund shares redeemed		6,960
Sub-Administration fee payable (Note 2)		385
Custody and accounting fees payable		3,939
Transfer agent fee payable		446
Professional fees payable		13,356
Accrued expenses and other liabilities		719
Total Liabilities		27,830
NET ASSETS	$	33,343,661
NET ASSETS CONSIST OF:
Paid-in capital	$	34,281,780
Total distributable earnings (loss)		(938,119	)
NET ASSETS	$	33,343,661
Shares of beneficial interest outstanding ($0.01 par value, unlimited shares authorized)		3,404,399
Net asset value per share	$	9.79
Identified cost of affiliated investments	$	34,983,398

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

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STATEMENTS OF OPERATIONS — SIX MONTHS ENDED DECEMBER 31, 2018 (Unaudited)

	SA U.S.			SA Global			SA U.S.
	Fixed Income			Fixed Income			Core Market
	Fund			Fund			Fund
INVESTMENT INCOME
Income:
Unaffiliated dividends	$	—		$	—		$	7,593,252
Affiliated dividends		—			—			—
Interest(1)		7,715,418			5,615,598			36,280
Other income		—			—			62,561
Taxes withheld		—			—			(1,413	)
Total Income		7,715,418			5,615,598			7,690,680
Expenses:
Advisory fees (Note 2)		472,583			935,739			1,603,681
Shareholder Services fees (Note 2)
Investor Class		170,246			199,736			244,560
Select Class		123,479			147,201			151,548
Administration fees (Note 2)		315,055			374,296			400,920
Sub-Advisory fees (Note 2)		94,517			112,289			115,589
Sub-Administration fees (Note 2)		57,318			68,153			73,806
Trustees’ fees and expenses (Note 2)		14,670			14,670			14,670
Custody and accounting fees		46,068			71,689			63,008
Transfer agent fees		61,173			61,860			70,036
Professional fees *		31,824			35,982			36,155
Registration fees		23,885			24,159			23,605
Other expenses **		42,667			49,421			52,019
Total expenses before waivers and reimbursements:		1,453,485			2,095,195			2,849,597
Less: Fee waiver by the Adviser (Note 2)		—			—			—
Net expenses		1,453,485			2,095,195			2,849,597
Net investment income		6,261,933			3,520,403			4,841,083
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on:
Investments(2)		(2,150,285	)		(2,695,114	)		26,898,819
Investments in affiliates		—			—			—
Forward currency transactions		—			17,640,598			—
Foreign currency transactions		—			(25,509	)		—
Capital gain distributions from underlying funds		—			—			1,288,647
Increase (decrease) in unrealized appreciation (depreciation) on:
Investments(3)		2,892,594			(1,702,003	)		(90,208,761	)
Forward currency transactions		—			(6,466,560	)		—
Foreign currency transactions		—			(170,061	)		—
Net realized and unrealized gain (loss) on investments and
foreign currency transactions		742,309			6,581,351			(62,021,295	)
Net increase (decrease) in net assets resulting from operations	$	7,004,242		$	10,101,754		$	(57,180,212	)
(1) Interest income includes security lending income of:	$	—		$	24,553		$	19,720
(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.

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
$	7,329,129		$	2,873,506		$	9,086,692		$	6,157,844		$	4,115,665		$	6,619,566		$	—
	—			—			—			—			—			—			639,633
	23,165			123,297			198,150			—			39,431			9,382			—
	1,406			14,561			4,274			—			—			—			—
	—			(1,677	)		(616,750	)		—			(560,632	)		—			—
	7,353,700			3,009,687			8,672,366			6,157,844			3,594,464			6,628,948			639,633
	1,213,131			863,146			1,605,446			418,229			479,804			326,967			—
	180,361			128,702			195,502			98,808			56,541			52,082			N/A
	115,569			82,153			139,282			63,884			42,003			36,293			N/A
	303,283			215,787			356,766			167,292			106,623			93,419			—
	303,283			539,466			713,532			—			501,128			93,419			—
	56,285			40,917			68,507			32,815			20,377			16,703			3,429
	14,670			14,670			14,670			14,670			14,670			14,670			14,670
	41,999			52,968			94,997			13,978			153,211			23,438			13,779
	68,229			67,382			70,035			67,036			61,199			62,411			2,447
	32,439			32,434			34,631			33,008			39,916			29,646			30,392
	22,679			20,970			23,285			20,288			18,492			18,054			11,814
	42,071			33,580			56,592			34,026			27,843			18,322			13,948
	2,393,999			2,092,175			3,373,245			964,034			1,521,807			785,424			90,479
	—			—			—			(3,140	)		(250,409	)		(43,115	)		(90,479	)
	2,393,999			2,092,175			3,373,245			960,894			1,271,398			742,309			—
	4,959,701			917,512			5,299,121			5,196,950			2,323,066			5,886,639			639,633
	26,791,969			7,663,559			(16,213,947	)		(985,257	)		2,121,769			(1,130,420	)		—
	—			—			—			—			—			—			58,225
	—			—			(943	)		—			—			—			—
	—			—			(78,762	)		—			(27,819	)		—			—
	—			—			—			14,020,397			—			—			763,659
	(90,551,271	)		(80,576,237	)		(90,199,113	)		(81,041,039	)		(15,505,430	)		(12,500,606	)		(4,113,144	)
	—			—			—			—			—			—			—
	—			—			26,889			—			12,150			—			—
	(63,759,302	)		(72,912,678	)		(106,465,876	)		(68,005,899	)		(13,399,330	)		(13,631,026	)		(3,291,260	)
$	(58,799,601	)	$	(71,995,166	)	$	(101,166,755	)	$	(62,808,949	)	$	(11,076,264	)	$	(7,744,387	)	$	(2,651,627	)
$	7,511		$	115,968		$	182,268		$	—		$	36,813		$	3,017		$	—
$	—		$	—		$	—		$	—		$	33,187		$	—		$	—
$	—		$	—		$	—		$	—		$	(538,189	)	$	—		$	—

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, 2018			Year Ended
	(Unaudited)			June 30, 2018
INCREASE (DECREASE) IN NET ASSETS
Operations:
Net investment income	$	6,261,933		$	6,509,237
Net realized gain (loss) on investments and foreign currency transactions		(2,150,285	)		(3,106,955	)
Net increase (decrease) in unrealized appreciation (depreciation)		2,892,594			(2,163,920	)
Net increase (decrease) in net assets from operations		7,004,242			1,238,362
Distributions to shareholders:(1)
Investor Class		(1,403,834	)		(4,374,092	)
Select Class		(6,119,707	)		(1,430,454	)(2)
Total distributions to shareholders		(7,523,541	)		(5,804,546	)
Capital share transactions
Proceeds from sale of shares
Investor Class		9,753,886			106,664,073
Select Class		46,259,542			26,742,862	(2)
		56,013,428			133,406,935
Value of distributions reinvested
Investor Class		1,359,056			4,293,812
Select Class		6,046,848			1,413,186	(2)
		7,405,904			5,706,998
Cost of shares redeemed
Investor Class		(16,870,623	)		(94,141,149	)
Select Class		(44,556,890	)		(27,213,466	)(2)
		(61,427,513	)		(121,354,615	)
Tax-free interclass conversion
Investor Class		(18,598,500	)		(471,553,088	)
Select Class		18,598,500			471,553,088	(2)
		—			—
Total capital share transactions		1,991,819			17,759,318
Total increase (decrease) in net assets		1,472,520			13,193,134
NET ASSETS
Beginning of year	$	619,833,008		$	606,639,874
End of period	$	621,305,528		$	619,833,008
CAPITAL SHARE TRANSACTIONS
Shares sold by subscription
Investor Class		963,548			10,511,560
Select Class		4,572,017			2,645,013	(2)
Shares issued for distributions reinvested
Investor Class		134,707			424,021
Select Class		599,942			139,944	(2)
Shares redeemed
Investor Class		(1,666,433	)		(9,276,413	)
Select Class		(4,403,247	)		(2,689,220	)(2)
Tax-free interclass conversion
Investor Class		(1,838,465	)		(46,674,809	)
Select Class		1,839,382			46,668,871	(2)
Net increase in fund shares		201,451			1,748,967

(1)	Distributions from net investment income and net realized capital gains are combined for the year ended June 30, 2018 and six months ended December 31, 2018. Comparable prior year information has been revised to reflect current period presentation. See Note 5 in the Notes to Financial Statements for more information regarding recently issued accounting standards.
(2)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.

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, 2018			Year Ended			December 31, 2018			Year Ended
(Unaudited)			June 30, 2018			(Unaudited)			June 30, 2018
$	3,520,403		$	7,549,489		$	4,841,083		$	7,299,307
	14,919,975			(687,057	)		28,187,466			24,532,657
	(8,338,624	)		(6,449,786	)		(90,208,761	)		81,709,871
	10,101,754			412,646			(57,180,212	)		113,541,835
	(3,217,948	)		(3,049,652	)		(9,672,689	)		(28,329,536	)
	(15,264,190	)		(242,689	)(2)		(35,979,252	)		(2,920,705	)(2)
	(18,482,138	)		(3,292,341	)		(45,651,941	)		(31,250,241	)
	10,615,221			120,921,263			10,661,584			75,642,192
	49,149,847			29,675,511	(2)		40,696,322			57,684,404	(2)
	59,765,068			150,596,774			51,357,906			133,326,596
	3,127,759			3,006,938			9,213,058			27,947,398
	15,131,780			238,741	(2)		33,943,036			1,998,525	(2)
	18,259,539			3,245,679			43,156,094			29,945,923
	(18,971,086	)		(104,702,711	)		(21,794,666	)		(151,424,164	)
	(54,144,833	)		(27,927,009	)(2)		(68,763,926	)		(30,864,657	)(2)
	(73,115,919	)		(132,629,720	)		(90,558,592	)		(182,288,821	)
	(18,485,844	)		(564,978,921	)		(24,810,810	)		(546,054,786	)
	18,485,844			564,978,921	(2)		24,810,810			546,054,786
	—			—			—			—
	4,908,688			21,212,733			3,955,408			(19,016,302	)
	(3,471,696	)		18,333,038			(98,876,745	)		63,275,292
$	739,453,337		$	721,120,299		$	794,954,368		$	731,679,076
$	735,981,641		$	739,453,337		$	696,077,623		$	794,954,368
	1,110,480			12,580,839			431,378			3,253,198
	5,153,147			3,101,812	(2)		1,669,620			2,395,700	(2)
	328,986			313,058			447,453			1,189,757
	1,597,779			24,878	(2)		1,655,758			85,116	(2)
	(1,985,069	)		(10,885,858	)		(893,880	)		(6,468,667	)
	(5,682,797	)		(2,914,213	)(2)		(2,821,309	)		(1,294,074	)(2)
	(1,936,539	)		(59,073,312	)		(976,035	)		(23,153,275	)
	1,941,574			59,131,739	(2)		974,933			23,153,201	(2)
	527,561			2,278,943			487,918			(839,044	)

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, 2018			Year Ended
	(Unaudited)			June 30, 2018
INCREASE (DECREASE) IN NET ASSETS
Operations:
Net investment income	$	4,959,701		$	8,518,882
Net realized gain (loss) on investments and foreign currency transactions		26,791,969			51,890,926
Net increase (decrease) in unrealized appreciation (depreciation)		(90,551,271	)		(5,755,832	)
Net increase (decrease) in net assets from operations		(58,799,601	)		54,653,976
Distributions to shareholders:(1)
Investor Class		(10,385,475	)		(53,781,728	)
Select Class		(39,249,863	)		(5,275,623	)(2)
Total distributions to shareholders		(49,635,338	)		(59,057,351	)
Capital share transactions
Proceeds from sale of shares
Investor Class		8,581,801			61,861,963
Select Class		34,674,702			46,909,014	(2)
		43,256,503			108,770,977
Value of distributions reinvested
Investor Class		10,031,737			53,091,509
Select Class		37,015,592			3,567,875	(2)
		47,047,329			56,659,384
Cost of shares redeemed
Investor Class		(14,652,502	)		(111,569,714	)
Select Class		(46,883,962	)		(20,916,578	)(2)
		(61,536,464	)		(132,486,292	)
Tax-free interclass conversion
Investor Class		(19,110,559	)		(427,326,946	)
Select Class		19,110,559			427,326,946
		—			—
Total capital share transactions		28,767,368			32,944,069
Total increase (decrease) in net assets		(79,667,571	)		28,540,694
NET ASSETS
Beginning of year	$	601,381,498		$	572,840,804
End of period	$	521,713,927		$	601,381,498
CAPITAL SHARE TRANSACTIONS
Shares sold by subscription
Investor Class		464,772			3,253,031
Select Class		1,910,366			2,419,591	(2)
Shares issued for distributions reinvested
Investor Class		678,278			2,812,050
Select Class		2,512,939			188,976	(2)
Shares redeemed
Investor Class		(809,956	)		(5,819,875	)
Select Class		(2,614,327	)		(1,103,944	)(2)
Tax-free interclass conversion
Investor Class		(996,727	)		(22,882,689	)
Select Class		995,215			22,871,403	(2)
Net increase in fund shares		2,140,560			1,738,543

(1)	Distributions from net investment income and net realized capital gains are combined for the year ended June 30, 2018 and six months ended December 31, 2018. Comparable prior year information has been revised to reflect current period presentation. See Note 5 in the Notes to Financial Statements for more information regarding recently issued accounting standards.
(2)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.

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

SA U.S. Small Company Fund						SA International Value Fund
Six Months Ended						Six Months Ended
December 31, 2018			Year Ended			December 31, 2018			Year Ended
(Unaudited)			June 30, 2018			(Unaudited)			June 30, 2018
$	917,512		$	1,271,717		$	5,299,121		$	17,820,806
	7,663,559			15,174,335			(16,293,652	)		36,152,528
	(80,576,237	)		41,714,131			(90,172,224	)		8,585,087
	(71,995,166	)		58,160,183			(101,166,755	)		62,558,421
	(2,474,432	)		(29,383,572	)		(2,412,937	)		(17,356,689	)
	(10,022,966	)		(2,653,793	)(2)		(12,985,835	)		(1,643,321	)(2)
	(12,497,398	)		(32,037,365	)		(15,398,772	)		(19,000,010	)
	6,075,194			42,481,624			10,703,651			74,033,982
	23,696,605			31,096,319	(2)		49,352,481			56,271,892	(2)
	29,771,799			73,577,943			60,056,132			130,305,874
	2,389,580			28,994,832			2,328,422			17,130,230
	9,461,556			1,772,015	(2)		12,256,937			1,111,519	(2)
	11,851,136			30,766,847			14,585,359			18,241,749
	(10,406,066	)		(71,105,616	)		(15,437,998	)		(143,535,141	)
	(33,443,034	)		(17,126,054	)(2)		(46,292,981	)		(28,224,488	)(2)
	(43,849,100	)		(88,231,670	)		(61,730,979	)		(171,759,629	)
	(13,792,945	)		(304,406,768	)		(22,230,765	)		(562,133,925	)
	13,792,945			304,406,768			22,230,765			562,133,925
	—			—			—			—
	(2,226,165	)		16,113,120			12,910,512			(23,212,006	)
	(86,718,729	)		42,235,938			(103,655,015	)		20,346,405
$	445,006,386		$	402,770,448		$	735,285,267		$	714,938,862
$	358,287,657		$	445,006,386		$	631,630,252		$	735,285,267
	227,188			1,613,718			939,640			6,048,170
	906,086			1,137,318	(2)		4,366,044			4,500,009	(2)
	110,119			1,100,373			232,842			1,382,585
	437,023			67,249	(2)		1,230,616			89,711	(2)
	(393,504	)		(2,673,817	)		(1,370,090	)		(11,686,200	)
	(1,261,761	)		(631,795	)(2)		(4,144,767	)		(2,271,198	)(2)
	(498,158	)		(11,549,387	)		(1,913,706	)		(44,891,620	)
	497,138			11,540,433	(2)		1,909,561			44,853,162	(2)
	24,131			604,092			1,250,140			(1,975,381	)

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, 2018			Year Ended
	(Unaudited)			June 30, 2018
INCREASE (DECREASE) IN NET ASSETS
Operations:
Net investment income	$	5,196,950		$	4,485,171
Net realized gain (loss) on investments and foreign currency transactions		13,035,140			18,266,018
Net increase (decrease) in unrealized appreciation (depreciation)		(81,041,039	)		7,176,612
Net increase (decrease) in net assets from operations		(62,808,949	)		29,927,801
Distributions to shareholders:(1)
Investor Class		(3,953,244	)		(14,512,415	)
Select Class		(15,924,471	)		(967,880	)(2)
Total distributions to shareholders		(19,877,715	)		(15,480,295	)
Capital share transactions
Proceeds from sale of shares
Investor Class		4,875,046			34,867,810
Select Class		20,935,896			9,008,770	(2)
		25,810,942			43,876,580
Value of distributions reinvested
Investor Class		3,812,414			14,300,429
Select Class		15,789,268			948,594	(2)
		19,601,682			15,249,023
Cost of shares redeemed
Investor Class		(7,816,866	)		(60,788,356	)
Select Class		(22,218,749	)		(13,695,567	)(2)
		(30,035,615	)		(74,483,923	)
Tax-free interclass conversion
Investor Class		(10,975,014	)		(277,927,088	)
Select Class		10,975,014			277,927,088	(2)
		—			—
Total capital share transactions		15,377,009			(15,358,320	)
Total increase (decrease) in net assets		(67,309,655	)		(910,814	)
NET ASSETS
Beginning of year	$	355,047,707		$	355,958,521
End of period	$	287,738,052		$	355,047,707
CAPITAL SHARE TRANSACTIONS
Shares sold by subscription
Investor Class		227,993			1,485,854
Select Class		988,150			380,412	(2)
Shares issued for distributions reinvested
Investor Class		219,230			615,072
Select Class		912,675			40,817	(2)
Shares redeemed
Investor Class		(370,207	)		(2,586,779	)
Select Class		(1,073,386	)		(579,642	)(2)
Tax-free interclass conversion
Investor Class		(496,037	)		(11,680,106	)
Select Class		495,114			11,674,710	(2)
Net increase in fund shares		903,532			(649,662	)

(1)	Distributions from net investment income and net realized capital gains are combined for the year ended June 30, 2018 and six months ended December 31, 2018. Comparable prior year information has been revised to reflect current period presentation. See Note 5 in the Notes to Financial Statements for more information regarding recently issued accounting standards.
(2)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.

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, 2018			Year Ended			December 31, 2018			Year Ended
(Unaudited)			June 30, 2018			(Unaudited)			June 30, 2018
$	2,323,066		$	3,063,391		$	5,886,639		$	4,182,960
	2,093,950			6,067,632			(1,130,420	)		2,714,765
	(15,493,280	)		1,658,242			(12,500,606	)		(815,500	)
	(11,076,264	)		10,789,265			(7,744,387	)		6,082,225
	(685,828	)		(2,620,220	)		(1,360,083	)		(4,520,029	)
	(3,414,178	)		(306,319	)(2)		(5,993,355	)		(502,553	)(2)
	(4,100,006	)		(2,926,539	)		(7,353,438	)		(5,022,582	)
	3,478,336			26,279,504			2,719,317			23,406,354
	15,470,979			21,201,378	(2)		10,914,301			17,175,721	(2)
	18,949,315			47,480,882			13,633,618			40,582,075
	667,208			2,588,562			1,322,185			4,460,664
	3,177,559			218,812	(2)		5,654,080			349,651	(2)
	3,844,767			2,807,374			6,976,265			4,810,315
	(4,672,918	)		(40,109,439	)		(4,163,434	)		(26,991,279	)
	(13,769,132	)		(9,164,002	)(2)		(14,475,845	)		(6,047,764	)(2)
	(18,442,050	)		(49,273,441	)		(18,639,279	)		(33,039,043	)
	(7,196,681	)		(167,353,278	)		(6,661,329	)		(119,649,299	)
	7,196,681			167,353,278	(2)		6,661,329			119,649,299	(2)
	—			—			—			—
	4,352,032			1,014,815			1,970,604			12,353,347
	(10,824,238	)		8,877,541			(13,127,221	)		13,412,990
$	213,430,744		$	204,553,203		$	185,562,648		$	172,149,658
$	202,606,506		$	213,430,744		$	172,435,427		$	185,562,648
	355,151			2,489,868			237,850			2,123,815
	1,584,439			1,988,733	(2)		957,757			1,550,880	(2)
	72,444			247,473			124,383			401,862
	345,762			20,899	(2)		533,907			31,500	(2)
	(480,827	)		(3,787,719	)		(365,400	)		(2,419,831	)
	(1,416,389	)		(856,685	)(2)		(1,270,973	)		(551,198	)(2)
	(727,414	)		(15,369,734	)		(576,517	)		(11,300,596	)
	726,378			15,356,969	(2)		575,856			11,295,185	(2)
	459,544			89,804			216,863			1,131,617

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, 2018				Year Ended
	(Unaudited)				June 30, 2018
INCREASE (DECREASE) IN NET ASSETS
Operations:
Net investment income		$	639,633		$	349,076
Net realized gain on investments and foreign currency transactions			821,884			1,499,200
Net increase (decrease) in unrealized appreciation (depreciation)			(4,113,144	)		511,370
Net increase (decrease) in net assets from operations			(2,651,627	)		2,359,646
Distributions to shareholders(1)			(2,134,551	)		(804,007	)
Capital share transactions
Proceeds from sale of shares			5,606,597			15,755,502
Value of distributions reinvested			2,125,762			796,946
Cost of shares redeemed			(5,347,575	)		(9,785,495	)
Total capital share transactions			2,384,784			6,766,953
Total increase (decrease) in net assets			(2,401,394	)		8,322,592
NET ASSETS
Beginning of year			35,745,055			27,422,463
End of period		$	33,343,661		$	35,745,055
CAPITAL SHARE TRANSACTIONS
Shares sold by subscription			495,875			1,395,198
Shares issued for distributions reinvested			218,925			70,216
Shares redeemed			(476,967	)		(855,588	)
Net increase in fund shares			237,833			609,826

⁽¹⁾ Distributions from net investment income and net realized capital gains are combined for the year ended June 30, 2018 and six months ended December 31, 2018. Comparable prior year information has been revised to reflect current period presentation. See Note 5 in the Notes to Financial Statements for more information regarding recently issued accounting standards.

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, 2018				Year Ended June 30,
Investor Class	(Unaudited)				2018			2017			2016			2015			2014
Net asset value, beginning        of period		$	10.11		$	10.18		$	10.22		$	10.20		$	10.19		$	10.20
Income from investment       operations:
Net investment income (loss)			(0.12	)		(0.05	)		0.06			0.03			0.00	(1)		(0.02	)
Net realized and unrealized              gain (loss) on investments			0.22			0.07			(0.05	)		0.03			0.01			0.01
Total from investment operations			0.10			0.02			0.01			0.06			0.01			(0.01	)
Less distributions from:
Net investment income			(0.11	)		(0.09	)		(0.05	)		(0.03	)		—			—
Capital gains			—			—			—			(0.01	)		(0.00	)(1)		(0.00	)(1)
Total distributions			(0.11	)		(0.09	)		(0.05	)		(0.04	)		(0.00	)(1)		(0.00	)(1)
Net asset value, end        of period		$	10.10		$	10.11		$	10.18		$	10.22		$	10.20		$	10.19
Total return			1.02	%(2)		0.17	%		0.10	%		0.53	%		0.22	%		(0.07	)%
Net assets, end of period (000s)		$	123,000		$	147,431		$	606,640		$	615,114		$	612,129		$	564,205
Ratio of net expenses to       average net assets			0.64	%(3)		0.64	%		0.65	%		0.65	%		0.65	%		0.65	%
Ratio of gross expenses to       average net assets			0.64	%(3)		0.64	%		0.65	%		0.65	%		0.74	%(4)		0.75	%(4)
Ratio of net investment income       (loss) to average net assets			1.79	%(3)		0.94	%		0.56	%		0.31	%		(0.01	)%		(0.23	)%
Portfolio turnover rate			54	%		107	%		115	%		140	%		202	%		94	%
Without giving effect to the expense       waiver described in Note 2       to the Financial Statements,       net investment income (loss)       per share would have been		$	(0.12	)	$	(0.05	)	$	0.06		$	0.03		$	(0.01	)	$	(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
	Six Months Ended
	December 31, 2018				Period Ended
Select Class	(Unaudited)				June 30, 2018(1)
Net asset value, beginning of period		$	10.10		$	10.18
Income from investment operations:
Net investment loss			(0.15	)		(0.10	)
Net realized and unrealized gain (loss) on investments			0.27			0.13
Total from investment operations			0.12			0.03
Less distributions from:
Net investment income			(0.13	)		(0.11	)
Capital gains			—			—
Total distributions			(0.13	)		(0.11	)
Net asset value, end of period		$	10.09		$	10.10
Total return			1.14	%(2)		0.33	%(2)
Net assets, end of period (000s)		$	498,305		$	472,402
Ratio of net expenses to average net assets			0.41	%(3)		0.43	%(3)
Ratio of gross expenses to average net assets			0.41	%(3)		0.43	%(3)
Ratio of net investment income to average net assets			2.04	%(3)		1.55	%(3)
Portfolio turnover rate			54	%		107	%
Without giving effect to the expense waiver described in Note 2 to the Financial       Statements, net investment income (loss) per share would have been		$	(0.15	)	$	(0.10	)

(1)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.
(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, 2018				Year Ended June 30,
Investor Class	(Unaudited)				2018			2017			2016			2015			2014
Net asset value, beginning        of period		$	9.59		$	9.63		$	9.79		$	9.63		$	9.69		$	9.68
Income from investment       operations:
Net investment income (loss)			(0.33	)		0.20			0.09			0.06			0.11			0.10
Net realized and unrealized        gain (loss) on investments			0.45			(0.20	)		(0.13	)		0.17			(0.01	)		—
Total from investment operations			0.12			—			(0.04	)		0.23			0.10			0.10
Less distributions from:
Net investment income			(0.20	)		(0.04	)		(0.10	)		(0.06	)		(0.15	)		(0.09	)
Capital gains			—			—	(1)		(0.02	)		(0.01	)		(0.01	)		—
Total distributions			(0.20	)		(0.04	)		(0.12	)		(0.07	)		(0.16	)		(0.09	)
Net asset value, end       of period		$	9.51		$	9.59		$	9.63		$	9.79		$	9.63		$	9.69
Total return			1.28	%(2)		0.04	%		(0.33	)%		2.32	%		1.00	%		0.99	%
Net assets, end of period (000s)		$	145,543		$	170,558		$	721,120		$	732,949		$	753,463		$	724,587
Ratio of net expenses to       average net assets			0.73	%(3)		0.73	%		0.73	%		0.73	%		0.79	%		0.80	%
Ratio of gross expenses to       average net assets			0.73	%(3)		0.73	%		0.73	%		0.73	%		0.79	%		0.80	%(4)
Ratio of net investment income       to average net assets			0.77	%(3)		1.02	%		1.06	%		0.91	%		1.04	%		1.00	%
Portfolio turnover rate			15	%		46	%		41	%		42	%		72	%		24	%
Without giving effect to the expense       waiver described in Note 2       to the Financial Statements,       net investment income (loss)       per share would have been		$	(0.33	)	$	0.20		$	0.09		$	0.06		$	0.11		$	0.10

(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
	Six Months Ended
	December 31, 2018				Period Ended
Select Class	(Unaudited)				June 30, 2018(1)
Net asset value, beginning of period		$	9.59		$	9.62
Income from investment operations:
Net investment loss			(0.45	)		(0.02	)
Net realized and unrealized gain (loss) on investments			0.58			0.04
Total from investment operations			0.13			0.02
Less distributions from:
Net investment income			(0.25	)		(0.05	)
Capital gains			—			—
Total distributions			(0.25	)		(0.05	)
Net asset value, end of period		$	9.47		$	9.59
Total return			1.37	%(2)		0.25	%(2)
Net assets, end of period (000s)		$	590,439		$	568,896
Ratio of net expenses to average net assets			0.51	%(3)		0.52	%(3)
Ratio of gross expenses to average net assets			0.51	%(3)		0.54	%(3)
Ratio of net investment income to average net assets			0.99	%(3)		1.12	%(3)
Portfolio turnover rate			15	%		46	%
Without giving effect to the expense waiver described in Note 2 to the Financial       Statements, net investment income (loss) per share would have been		$	(0.45	)	$	(0.02	)

(1)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.
(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.
48

FINANCIAL HIGHLIGHTS (Continued)

	SA U.S. Core Market Fund
	Six Months Ended December 31, 2018				Year Ended June 30,
Investor Class	(Unaudited)				2018			2017			2016			2015			2014
Net asset value, beginning        of period		$	24.18		$	21.71		$	19.56		$	19.47		$	18.49		$	14.99
Income from investment        operations:
Net investment income (loss)			(0.15	)		(0.02	)		0.22			0.21			0.19			0.14
Net realized and unrealized               gain (loss) on investments			(1.74	)		3.45			3.16			0.05			0.95			3.50
Total from investment operations			(1.89	)		3.43			3.38			0.26			1.14			3.64
Less distributions from:
Net investment income			(0.17	)		(0.22	)		(0.26	)		(0.17	)		(0.16	)		(0.14	)
Capital gains			(1.18	)		(0.74	)		(0.97	)		—			—			—
Total distributions			(1.35	)		(0.96	)		(1.23	)		(0.17	)		(0.16	)		(0.14	)
Net asset value, end        of period		$	20.94		$	24.18		$	21.71		$	19.56		$	19.47		$	18.49
Total return			(7.71	)%(1)		15.91	%		17.81	%		1.31	%		6.22	%		24.36	%
Net assets, end of period (000s)		$	157,644		$	205,989		$	731,679		$	668,601		$	699,644		$	662,126
Ratio of net expenses to        average net assets			0.87	%(1)		0.90	%		0.93	%		0.98	%		1.00	%		1.00	%
Ratio of gross expenses to        average net assets			0.87	%(1)		0.90	%		0.93	%		0.98	%		1.00	%		1.00	%(2)
Ratio of net investment income        to average net assets			1.04	%(1)		0.90	%		1.06	%		1.09	%		0.99	%		0.89	%
Portfolio turnover rate			3	%		6	%		8	%		11	%		10	%		11	%
Without giving effect to the        expense waiver described        in Note 2 to the Financial        Statements, net investment        income (loss) per share        would have been		$	(0.15	)	$	(0.02	)	$	0.22		$	0.21		$	0.19		$	0.14

(1)	Annualized for periods less than one year.
(2)	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
	Six Months Ended
	December 31, 2018			Period Ended
Select Class	(Unaudited)			June 30, 2018(1)
Net asset value, beginning of period	$	24.20		$	21.74
Income from investment operations:
Net investment loss		(0.42	)		(0.20	)
Net realized and unrealized gain (loss) on investments		(1.46	)		3.65
Total from investment operations		(1.88	)		3.45
Less distributions from:
Net investment income		(0.29	)		(0.25	)
Capital gains		(1.18	)		(0.74	)
Total distributions		(1.47	)		(0.99	)
Net asset value, end of period	$	20.85		$	24.20
Total return		(7.63	)%(2)		15.99	%(2)
Net assets, end of period (000s)	$	538,433		$	588,965
Ratio of net expenses to average net assets		0.66	%(3)		0.67	%(3)
Ratio of gross expenses to average net assets		0.66	%(3)		0.68	%(3)(4)
Ratio of net investment income to average net assets		1.26	%(3)		1.12	%
Portfolio turnover rate		3	%		6	%
Without giving effect to the expense waiver described in Note 2 to the Financial        Statements, net investment income (loss) per share would have been	$	(0.42	)	$	(0.20	)

(1)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.
(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, 2018				Year Ended June 30,
Investor Class	(Unaudited)				2018			2017			2016			2015			2014
Net asset value, beginning        of period		$	18.39		$	18.51		$	16.11		$	17.45		$	18.08		$	14.63
Income from investment        operations:
Net investment income (loss)			(0.20	)		—	(1)		0.22			0.24			0.20			0.14
Net realized and unrealized               gain (loss) on investments			(1.68	)		1.83			3.07			(0.52	)		0.23			3.77
Total from investment operations			(1.88	)		1.83			3.29			(0.28	)		0.43			3.91
Less distributions from:
Net investment income			(0.19	)		(0.24	)		(0.25	)		(0.22	)		(0.17	)		(0.13	)
Capital gains			(1.28	)		(1.71	)		(0.64	)		(0.84	)		(0.89	)		(0.33	)
Total distributions			(1.47	)		(1.95	)		(0.89	)		(1.06	)		(1.06	)		(0.46	)
Net asset value, end        of period		$	15.04		$	18.39		$	18.51		$	16.11		$	17.45		$	18.08
Total return			(10.07	)%(2)		9.59	%		20.67	%		(1.35	)%		2.54	%		27.01	%
Net assets, end of period (000s)		$	114,859		$	152,688		$	572,841		$	519,215		$	546,453		$	526,814
Ratio of net expenses to        average net assets			0.96	%(3)		0.97	%		1.00	%		1.05	%		1.05	%		1.05	%
Ratio of gross expenses to        average net assets			0.96	%(3)		0.97	%		1.00	%		1.05	%		1.05	%(4)		1.06	%(4)
Ratio of net investment income        to average net assets			1.46	%(3)		1.41	%		1.29	%		1.55	%		1.17	%		0.90	%
Portfolio turnover rate			8	%		19	%		16	%		21	%		23	%		20	%
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	)	$	—	(1)	$	0.22		$	0.24		$	0.20		$	0.14

(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.
51

FINANCIAL HIGHLIGHTS (Continued)

	SA U.S. Value Fund
	Six Months Ended
	December 31, 2018			Period Ended
Select Class	(Unaudited)			June 30, 2018(1)
Net asset value, beginning of period	$	18.41		$	18.62
Income from investment operations:
Net investment loss		(0.42	)		(0.23	)
Net realized and unrealized gain (loss) on investments		(1.45	)		1.99
Total from investment operations		(1.87	)		1.76
Less distributions from:
Net investment income		(0.29	)		(0.26	)
Capital gains		(1.28	)		(1.71	)
Total distributions		(1.57	)		(1.97	)
Net asset value, end of period	$	14.97		$	18.41
Total return		(10.00	)%(2)		9.20	%(2)
Net assets, end of period (000s)	$	406,855		$	448,694
Ratio of net expenses to average net assets		0.74	%(3)		0.75	%(3)
Ratio of gross expenses to average net assets		0.74	%(3)		0.76%(3)(4)
Ratio of net investment income to average net assets		1.69	%(3)		1.46	%(3)
Portfolio turnover rate		8	%		19	%
Without giving effect to the expense waiver described in Note 2 to the Financial        Statements, net investment income (loss) per share would have been	$	(0.42	)	$	(0.23	)

(1)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.
(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, 2018				Year Ended June 30,
Investor Class	(Unaudited)				2018			2017			2016			2015			2014
Net asset value, beginning        of period		$	27.37		$	25.76		$	22.40		$	25.64		$	25.77		$	21.29
Income from investment        operations:
Net investment income (loss)			0.03			(0.06	)		0.05			0.09			0.07			0.01
Net realized and unrealized               gain (loss) on investments			(4.63	)		3.75			4.62			(1.48	)		1.11			5.12
Total from investment operations			(4.60	)		3.69			4.67			(1.39	)		1.18			5.13
Less distributions from:
Net investment income			—			(0.05	)		(0.08	)		(0.09	)		(0.03	)		(0.03	)
Capital gains			(0.71	)		(2.03	)		(1.23	)		(1.76	)		(1.28	)		(0.62	)
Total distributions			(0.71	)		(2.08	)		(1.31	)		(1.85	)		(1.31	)		(0.65	)
Net asset value, end        of period		$	22.06		$	27.37		$	25.76		$	22.40		$	25.64		$	25.77
Total return			(16.77	)%(1)		14.64	%		20.90	%		(5.23	)%		4.81	%		24.29	%
Net assets, end of period (000s)		$	78,872		$	113,007		$	402,770		$	366,164		$	404,400		$	385,094
Ratio of net expenses to        average net assets			1.14	%(2)		1.17	%		1.20	%		1.20	%		1.20	%		1.20	%
Ratio of gross expenses        to average net assets			1.14	%(2)		1.21	%(3)		1.27	%(3)		1.28	%(3)		1.34	%(3)		1.35	%(3)
Ratio of net investment income        to average net assets			0.23	%(2)		0.26	%		0.26	%		0.42	%		0.27	%		0.05	%
Portfolio turnover rate			3	%		16	%		12	%		12	%		11	%		13	%
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	)	$	0.03		$	0.07		$	0.03		$	(0.01	)

(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
	Six Months Ended
	December 31, 2018				Period Ended
Select Class	(Unaudited)				June 30, 2018(1)
Net asset value, beginning of period		$	27.41			$	25.96
Income from investment operations:
Net investment loss			(0.15	)			(0.06	)
Net realized and unrealized gain (loss) on investments			(4.42	)			3.62
Total from investment operations			(4.57	)			3.56
Less distributions from:
Net investment income			(0.11	)			(0.08	)
Capital gains			(0.71	)			(2.03	)
Total distributions			(0.82	)			(2.11	)
Net asset value, end of period		$	22.02			$	27.41
Total return			(16.68	)%(2)			14.05	%(2)
Net assets, end of period (000s)		$	279,415			$	331,999
Ratio of net expenses to average net assets			0.92	%(3)			0.93	%(2)
Ratio of gross expenses to average net assets			0.92	%(3)			0.95	%(3)(4)
Ratio of net investment income to average net assets			0.49	%(3)			0.48	%(3)
Portfolio turnover rate			3	%			16	%
Without giving effect to the expense waiver described in Note 2 to the Financial        Statements, net investment income (loss) per share would have been		$	(0.15	)		$	(0.06	)

(1)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.
(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, 2018				Year Ended June 30,
Investor Class	(Unaudited)				2018			2017			2016			2015			2014
Net asset value, beginning        of period		$	11.87		$	11.20		$	9.16		$	11.34		$	12.59		$	10.16
Income from investment        operations:
Net investment income (loss)			(0.19	)		0.15			0.27			0.25			0.22			0.40
Net realized and unrealized gain (loss) on investments			(1.45	)		0.83			2.07			(2.24	)		(1.08	)		2.25
Total from investment operations			(1.64	)		0.98			2.34			(1.99	)		(0.86	)		2.65
Less distributions from:
Net investment income			(0.19	)		(0.31	)		(0.30	)		(0.19	)		(0.39	)		(0.22	)
Capital gains			—			—			—			—			—			—
Total distributions			(0.19	)		(0.31	)		(0.30	)		(0.19	)		(0.39	)		(0.22	)
Net asset value, end        of period		$	10.04		$	11.87		$	11.20		$	9.16		$	11.34		$	12.59
Total return			(13.78	)%(1)		8.61	%		25.81	%		(17.66	)%		(6.62	)%		26.23	%
Net assets, end of period (000s)		$	126,487		$	174,610		$	714,939		$	602,565		$	710,710		$	725,911
Ratio of net expenses to
average net assets			1.12	%(3)		1.12	%		1.13	%(2)		1.16	%		1.26	%		1.26	%
Ratio of gross expenses to
average net assets			1.12	%(3)		1.12	%		1.13	%(2)		1.16	%		1.26	%		1.26	%
Ratio of net investment income
to average net assets			1.28	%(3)		1.86	%		2.51	%		2.51	%		2.12	%		3.58	%
Portfolio turnover rate			11	%		21	%		17	%		21	%		21	%		15	%
Without giving effect to the expense
waiver described in Note 2
to the Financial Statements,
net investment income (loss)
per share would have been		$	(0.19	)	$	0.15		$	0.27		$	0.25		$	0.22		$	0.40

(1)	Periods less than one year are not annualized.
(2)	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.
(3)	Annualized for periods less than one year.

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

FINANCIAL HIGHLIGHTS (Continued)

	SA International Value Fund
	Six Months Ended
	December 31, 2018				Period Ended
Select Class	(Unaudited)				June 30, 2018(1)
Net asset value, beginning of period		$	11.89			$	11.28
Income from investment operations:
Net investment loss			(0.44	)			(0.21	)
Net realized and unrealized gain (loss) on investments			(1.19	)			1.14
Total from investment operations			(1.63	)			0.93
Less distributions from:
Net investment income			(0.26	)			(0.32	)
Capital gains			—				—
Total distributions			(0.26	)			(0.32	)
Net asset value, end of period		$	10.00			$	11.89
Total return			(13.69	)%(2)			8.16	%
Net assets, end of period (000s)		$	505,143			$	560,676
Ratio of net expenses to average net assets			0.90	%(3)			0.90	%(3)
Ratio of gross expenses to average net assets			0.90	%(3)			0.92	%(3)(4)
Ratio of net investment income to average net assets			1.54	%(3)			4.25	%(3)
Portfolio turnover rate			11	%			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		$	(0.44	)		$	(0.21	)

(1)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.
(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, 2018				Year Ended June 30,
Investor Class	(Unaudited)				2018			2017			2016			2015			2014
Net asset value, beginning        of period		$	22.94		$	22.09		$	18.72		$	20.43		$	22.05		$	17.30
Income from investment        operations:
Net investment income (loss)			(0.28	)		(0.60	)		0.18			0.42			0.23			0.15
Net realized and unrealized gain (loss) on investments			(3.83	)		2.46			3.97			(1.40	)		(1.42	)		4.95
Total from investment operations			(4.11	)		1.86			4.15			(0.98	)		(1.19	)		5.10
Less distributions from:
Net investment income			(0.29	)		(0.43	)		(0.36	)		(0.19	)		(0.31	)		(0.35	)
Capital gains			(0.89	)		(0.58	)		(0.42	)		(0.54	)		(0.12	)		—
Total distributions			(1.18	)		(1.01	)		(0.78	)		(0.73	)		(0.43	)		(0.35	)
Net asset value, end of period		$	17.65		$	22.94		$	22.09		$	18.72		$	20.43		$	22.05
Total return			(17.83	)%(1)		8.35	%		22.87	%		(4.81	)%		(5.21	)%		29.68	%
Net assets, end of period (000s)		$	62,309		$	90,584		$	355,959		$	307,502		$	337,659		$	337,334
Ratio of net expenses to        average net assets†			0.75	%(3)		0.86	%		0.96	%(2)		1.04	%		1.10	%		1.10	%
Ratio of gross expenses to        average net assets†			0.76	%(3)(4)		0.86	%		0.96	%(2)		1.04	%		1.12	%(4)		1.10	%(4)
Ratio of net investment income        to average net assets†			2.67	%(3)		1.27	%		0.64	%		2.15	%		1.15	%		0.75	%
Ratio of expenses to average        net assets for the DFA        Portfolio (unaudited)(5)†			0.53	%		0.53	%		0.53	%		0.53	%		0.53	%		0.53	%
Ratio of expenses to average net        assets for the DFA Portfolio(6)†			0.53	%		0.53	%		0.53	%		0.54	%		0.53	%		0.54	%
Portfolio turnover rate(7)			4	%		6	%		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		$	(0.28	)	$	(0.60	)	$	0.18		$	0.42		$	0.23		$	0.15

†	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)	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.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.
(5)	The DFA Portfolio expense ratios are as of April 30, 2018, 2017, 2016, 2015 and 2014, respectively and are unaudited.
(6)	The DFA Portfolio expense ratios are for the fiscal years ended October 31, 2018, 2017, 2016, 2015, 2014 and 2013, respectively.
(7)	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 included elsewhere in this report.

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

FINANCIAL HIGHLIGHTS (Continued)

	SA International Small Company Fund
	Six Months Ended
	December 31, 2018				Period Ended
Select Class	(Unaudited)				June 30, 2018(1)
Net asset value, beginning of period		$	22.96			$	22.01
Income from investment operations:
Net investment loss			(0.51	)			(0.41	)
Net realized and unrealized gain (loss) on investments			(3.58	)			2.40
Total from investment operations			(4.09	)			1.99
Less distributions from:
Net investment income			(0.42	)			(0.46	)
Capital gains			(0.89	)			(0.58	)
Total distributions			(1.31	)			(1.04	)
Net asset value, end of period		$	17.56			$	22.96
Total return			(17.70	)%(2)			8.98	%(2)
Net assets, end of period (000s)		$	225,429			$	264,464
Ratio of net expenses to average net assets†			0.52	%(3)			0.54	%
Ratio of gross expenses to average net assets†			0.52	%(3)			0.57	%(3)(4)
Ratio of net investment income to average net assets†			3.24	%(3)			0.98	%(3)
Ratio of expenses to average net assets for the DFA Portfolio (unaudited)†(5)			0.53	%			0.53	%
Ratio of expenses to average net assets for the DFA Portfolio†(6)			0.53	%			0.53	%
Portfolio turnover rate(7)			4	%			6	%
Without giving effect to the expense waiver described in Note 2 to the        Financial Statements, net investment income (loss) per share would have been		$	(0.51	)		$	(0.41	)

†	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)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.
(2)	Periods less than one year are not annualized.
(3)	Annualized for periods less than one year.
(4)	Gross expenses before waivers of expenses.
(5)	The DFA Portfolio expense ratios are as of April 30, 2015, 2014, 2013, 2012 and 2011, respectively and are unaudited.
(6)	The DFA Portfolio expense ratios are for the fiscal years ended October 31, 2016, 2015, 2014, 2013 and 2012, respectively.
(7)	Refer to the financial statements of the DFA Portfolio included elsewhere in this report.

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, 2018				Year Ended June 30,
Investor Class	(Unaudited)				2018			2017			2016			2015			2014
Net asset value, beginning of period		$	9.93		$	9.56		$	7.78		$	9.05		$	10.51		$	9.32
Income from investment operations:
Net investment income (loss)			(0.20	)		(0.11	)		0.09			0.11			0.11			0.10
Net realized and unrealized
gain (loss) on investments			(0.33	)		0.62			1.79			(1.29	)		(1.43	)		1.26
Total from investment operations			(0.53	)		0.51			1.88			(1.18	)		(1.32	)		1.36
Less distributions from:
Net investment income			(0.16	)		(0.14	)		(0.10	)		(0.09	)		(0.13	)		(0.08	)
Capital gains			—			—			—			—			(0.01	)		(0.09	)
Total distributions			(0.16	)		(0.14	)		(0.10	)		(0.09	)		(0.14	)		(0.17	)
Net asset value, end of period		$	9.24		$	9.93		$	9.56		$	7.78		$	9.05		$	10.51
Total return			(5.29	)%(1)		5.23	%		24.42	%		(12.95	)%		(12.53	)%		14.70	%
Net assets, end of period (000s)		$	38,765		$	49,384		$	204,553		$	166,788		$	167,220		$	162,333
Ratio of net expenses to
average net assets			1.35	%(2)		1.38	%		1.40	%		1.40	%		1.45	%		1.45	%
Ratio of gross expenses to
average net assets(3)			1.64	%(2)		1.61	%		1.66	%		1.72	%		1.83	%		1.93	%
Ratio of net investment income
to average net assets			2.16	%(2)		1.26	%		0.93	%		1.52	%		1.17	%		1.12	%
Portfolio turnover rate			6	%		18	%		21	%		13	%		14	%		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(3)		$	(0.22	)	$	(0.19	)	$	0.07		$	0.09		$	0.07		$	0.06

(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
	Six Months Ended
	December 31, 2018				Period Ended
Select Class	(Unaudited)				June 30, 2018(1)
Net asset value, beginning of period		$	9.94			$	9.61
Income from investment operations:
Net investment loss			(0.29	)			(0.11	)
Net realized and unrealized gain (loss) on investments			(0.22	)			0.59
Total from investment operations			(0.51	)			0.48
Less distributions from:
Net investment income			(0.20	)			(0.15	)
Capital gains			—				—
Total distributions			(0.20	)			(0.15	)
Net asset value, end of period		$	9.23			$	9.94
Total return			(5.17	)%(2)			4.87	%(2)
Net assets, end of period (000s)		$	163,841			$	164,047
Ratio of net expenses to average net assets			1.15	%(3)			1.16	%(3)
Ratio of gross expenses to average net assets			1.37	%(3)(4)			1.41	%(3)(4)
Ratio of net investment income to average net assets			2.18	%(3)			1.74	%(3)
Portfolio turnover rate			6	%			18	%
Without giving effect to the expense waiver described in Note 2 to the
Financial Statements, net investment income (loss) per share would have been		$	(0.29	)		$	(0.10	)

(1)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.
(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, 2018				Year Ended June 30,
Investor Class	(Unaudited)				2018			2017			2016			2015			2014
Net asset value, beginning of period		$	11.40		$	11.38		$	12.17		$	10.03		$	9.94		$	9.04
Income from investment operations:
Net investment income (loss)			(0.26	)		0.14			0.21			0.26			0.19			0.20
Net realized and unrealized
gain (loss) on investments			(0.23	)		0.21			(0.59	)		2.07			0.13			0.86
Total from investment operations			(0.49	)		0.35			(0.38	)		2.33			0.32			1.06
Less distributions from:
Net investment income			(0.35	)		(0.14	)		(0.35	)		(0.19	)		(0.23	)		(0.16	)
Capital gains			(0.07	)		(0.19	)		(0.06	)		—			—			—
Total distributions			(0.42	)		(0.33	)		(0.41	)		(0.19	)		(0.23	)		(0.16	)
Net asset value, end of period		$	10.49		$	11.40		$	11.38		$	12.17		$	10.03		$	9.94
Total return			(4.37	)%(1)		3.14	%		(2.98	)%		23.56	%		3.12	%		12.10	%
Net assets, end of period (000s)		$	35,247		$	44,916		$	172,150		$	186,216		$	160,246		$	150,198
Ratio of net expenses to
average net assets			0.95	%(2)		0.98	%		1.00	%		1.00	%		1.00	%		1.00	%
Ratio of gross expenses to
average net assets(3)			1.05	%(2)		1.04	%		1.05	%		1.06	%		1.23	%		1.31	%
Ratio of net investment income
to average net assets			6.12	%(2)		2.27	%		1.53	%		2.43	%		1.85	%		2.43	%
Portfolio turnover rate			4	%		6	%		7	%		7	%		3	%		0	%(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		$	(0.27	)	$	0.12		$	0.20		$	0.25		$	0.17		$	0.18

(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
	Six Months Ended
	December 31, 2018				Period Ended
Select Class	(Unaudited)				June 30, 2018(1)
Net asset value, beginning of period		$	11.41			$	11.53
Income from investment operations:
Net investment loss			(0.45	)			(0.09	)
Net realized and unrealized gain (loss) on investments			(0.03	)			0.32
Total from investment operations			(0.48	)			0.23
Less distributions from:
Net investment income			(0.41	)			(0.16	)
Capital gains			(0.07	)			(0.19	)
Total distributions			(0.48	)			(0.35	)
Net asset value, end of period		$	10.45			$	11.41
Total return			(4.31	)%(2)			2.03	%(2)
Net assets, end of period (000s)		$	137,189			$	140,647
Ratio of net expenses to average net assets			0.75	%(3)			0.76	%(3)
Ratio of gross expenses to average net assets			0.78	%(3)(4)			0.85	%(3)(4)
Ratio of net investment income to average net assets			6.35	%(3)			3.10	%(3)
Portfolio turnover rate			4	%			6	%
Without giving effect to the expense waiver described in Note 2 to the Financial
Statements, net investment income (loss) per share would have been(4)		$	(0.45	)		$	(0.08	)

(1)	For the period from July 3, 2017 (commencement of class operations) to June 30, 2018.
(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, 2018				Year Ended June 30,
	(Unaudited)				2018			2017			2016
Net asset value, beginning of period		$	11.29		$	10.73		$	9.51		$	10.00
Income from investment operations:
Net investment income (loss)			(0.21	)		(0.15	)		0.14			0.10
Net realized and unrealized gain (loss) on investments			(0.62	)		1.03			1.27			(0.49	)
Total from investment operations			(0.83	)		0.88			1.41			(0.39	)
Less distributions from:
Net investment income			(0.21	)		(0.15	)		(0.14	)		(0.10	)
Capital gains			(0.46	)		(0.17	)		(0.05	)		—
Total distributions			(0.67	)		(0.32	)		(0.19	)		(0.10	)
Net asset value, end of period		$	9.79		$	11.29		$	10.73		$	9.51
Total return			(7.32	)%(1)		8.11	%		15.04	%		(3.89	)%(1)
Net assets, end of period (000s)		$	33,344		$	35,745		$	27,422		$	11,662
Ratio of net expenses to average net assets			0.00	%(2)		0.00	%		0.00	%		0.00	%(2)
Ratio of gross expenses to average net assets(3)			0.50	%(2)		0.60	%		0.61	%		2.72	%(2)
Ratio of net investment income to average net assets			3.54	%(2)		1.09	%		1.32	%		1.11	%(2)
Portfolio turnover rate			8	%		20	%		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		$	(0.24	)	$	(0.21	)	$	0.10		$	(0.02	)

‡	Fund commenced operations on July 1, 2015.
(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.
63

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (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.

Each SA Fund, with the exception of the SA Worldwide Moderate Growth Fund, offers Investor Class shares and Select Class shares. The SA Worldwide Moderate Growth Fund offers only a single share class.

Select Class shares are available to investors that invest through BAM Advisor Services, LLC (the “Adviser” or “BAM“) or BAM’s Strategist Program and certain registered investment companies at the discretion of the Adviser. In addition, Select Class shares are available to certain Turn-Key Asset Management Program participants who invest through a unified managed account program sponsored by the Adviser and who invest at least $500,000 in a model portfolio that includes one or more of the Funds; or investors who are clients of investment advisors whose clients invest in aggregate at least $20 million in the Funds and other accounts managed by the Adviser. The Adviser may automatically convert Investor Class shares to Select Class shares when investment level thresholds are achieved. The minimum initial purchase amount of Select Class shares is generally $100,000 in aggregate across all of the SA Funds with no minimum for subsequent investments. In the Adviser’s discretion, the minimum initial purchase amount may be applied across all assets of the investor under administration with the investment advisor or may be reduced.

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

64

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

investment company. As of December 31, 2018, the SA International Small Company Fund held approximately 2.56% 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 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 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.

Effective January 1, 2018, purchases by the SA Worldwide Moderate Growth Fund in Underlying SA Funds 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.

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.

65

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

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.

Fair Value Measurement —The Board has adopted procedures to fair value securities and other assets of each Fund when market prices are not readily available or do not accurately reflect their current market value. The Board has designated the responsibility for applying these fair valuation methods to the Pricing Committee (or its Designee). For example, a Fund may fair value an asset when it is delisted or trading is halted or suspended; when it has not been traded for an extended period of time; when its primary pricing source is unavailable or other data calls the primary source’s reliability into question; or when its primary trading market is closed during regular U.S. market hours. Each Fund makes fair valuation determinations in accordance with the Trust’s Procedures for Valuing Securities and Assets, as amended. The Pricing Committee (or its Designee) may consider various factors, including unobservable market inputs when arriving at fair value. The Pricing Committee (or its Designee) may use, but is not limited to, techniques such as review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book value, and other relevant information when determining fair value. The Pricing Committee regularly reviews these inputs and assumptions when reviewing fair valuations of investments held by the Funds. Fair value pricing involves subjective judgement and it is possible that the fair value determined for an asset is materially different than the value that could be realized upon the sale of that asset. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

66

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

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).

The tables below provide a summary of the inputs as of December 31,2018, 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, 2018
SA U.S. Fixed Income Fund
Bonds and Notes	$	—	$	615,238,623		$	—	$	615,238,623
Short-Term Investments		2,744,693		—			—		2,744,693
Total Investments	$	2,744,693	$	615,238,623		$	—	$	617,983,316
SA Global Fixed Income Fund
Assets:
Bonds and Notes	$	—	$	723,664,249		$	—	$	723,664,249
Short-Term Investments		17,264,519		—			—		17,264,519
Other Financial Instruments
Forward Foreign Currency Contracts		—		6,174,289			—		6,174,289
Total Investments	$	17,264,519	$	729,838,538		$	—	$	747,103,057
Liabilities:
Other Financial Instruments
Forward Foreign Currency Contracts	$		$	(536,565	)	$		$	(536,565	)
SA U.S. Core Market Fund
Common Stocks	$	667,328,583	$	—		$	—	$	667,328,583
Mutual Funds		26,005,081		—			—		26,005,081
Short-Term Investments		2,884,501		—			—		2,884,501
Total Investments	$	696,218,165	$	—		$	—	$	696,218,165
SA U.S. Value Fund
Common Stocks	$	520,539,095	$	—		$	—	$	520,539,095
Short-Term Investments		1,455,025		—			—		1,455,025
Total Investments	$	521,994,120	$	—		$	—	$	521,994,120

67

SA FUNDS

NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (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, 2018
SA U.S. Small Company Fund
Common Stocks	$	356,584,442		$	—	$	9,779	†	$	356,594,221	†
Preferred Stocks		44,244			—		—			44,244
Rights and Warrants		—			—		3,412	†		3,412	†
Short-Term Investments		4,491,691			—		—			4,491,691
Total Investments	$	361,120,377		$	—	$	13,191		$	361,133,568
SA International Value Fund
Common Stocks	$	619,595,883		$	—	$	—	†	$	619,595,883	†
Preferred Stocks		7,792,506			—		—			7,792,506
Rights And Warrants		103,439			—		—			103,439
Short-Term Investments		10,961,837			—		—			10,961,837
Total Investments	$	638,453,665		$	—	$	—		$	638,453,665
SA International Small Company Fund
Mutual Funds	$	287,426,304		$	—	$	—		$	287,426,304
Total Investments	$	287,426,304		$	—	$	—		$	287,426,304
SA Emerging Markets Value Fund(a)
Common Stocks	$	198,454,269		$	86,293	$	29,324	†	$	198,569,886	†
Preferred Stocks		3,699,972			8,281		—			3,708,253
Rights And Warrants		2,658	†		—		—			2,658
Short-Term Investments		1,994,409			—		—			1,994,409
Total Investments	$	204,151,308		$	94,574	$	29,324		$	204,275,206
SA Real Estate Securities Fund
Common Stocks	$	170,669,835		$	—	$	—		$	170,669,835
Short-Term Investments		1,113,411			—		—			1,113,411
Total Investments	$	171,783,246		$	—	$	—		$	171,783,246
SA Worldwide Moderate Growth Fund
Mutual Funds	$	33,325,525		$	—	$	—		$	33,325,525
Total Investments	$	33,325,525		$	—	$	—		$	33,325,525

†	Contains securities with a market value of zero.
(a)	For the period ended December 31, 2018 common stocks valued at $1,477 were transferred from Level 1 to Level 3 and common stocks valued at $50,614 were transferred from Level 3 to Level 1.

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NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

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 any level to/from level 3 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
	June 30,								discounts	gains			in to		out of			December 31,			December 31,
	2018			Purchases		Sales			(premiums)	(losses)*			Level 3		Level 3			2018			2018*
SA U.S. Core        Market Fund
Rights and Warrants		$	5,946		—		(7,432	)	—		1,486			—		—			$	—		(3,883	)
SA U.S. Small        Company Fund
Common Stocks(2)		$	—		13,040		—		—		(3,261	)		—		—				9,779		(3,261	)
Rights and Warrants(1)(2)			6,626		—		(3,059	)	—		(155	)		—		—				3,412		(155	)
SA Emerging Markets        Value Fund
Common Stocks(1)(2)			229,619		—		(69,223	)	—		(81,936	)		1,478		(50,614	)			29,324		(82,131	)

⁽¹⁾ Level 3 at July 1, 2018 included securities with a fair value of $0.

⁽²⁾ Level 3 at December 31, 2018 included securities with fair value of $0.

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

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 or the Sub-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.

69

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NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

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, 2018, 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	$	14,309,281	$	14,592,098	$	—	$	14,597,355
SA U.S Core Market Fund	$	8,842,553	$	440,686	$	8,555,466	$	9,068,456
SA U.S. Value Fund	$	2,647,716	$	—	$	2,685,006	$	2,709,007
SA U.S. Small Company Fund	$	32,629,026	$	3,912,946	$	29,527,753	$	33,536,234
SA International Value Fund	$	19,723,561	$	10,961,837	$	9,333,768	$	20,455,255
SA Emerging Markets Value Fund	$	4,006,0701	$	1,994,409	$	2,242,569	$	4,242,938
SA Real Estate Securities Fund	$	1,173,672	$	106,301	$	1,106,896	$	1,209,326

⁺ 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.

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

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NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

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, 2018
	Overnight and				Between
Securities Lending Transaction(1)	Continuous		<30 days		30 & 90 days		>90 days		Total
SA Global Fixed Income Fund
Bonds and Notes	$	14,592,098	$	—	$	—	$	—	$	14,592,098
Total Borrowings	$	14,592,098	$	—	$	—	$	—	$	14,592,098
Gross amount of recognized liabilities for securities lending transactions									$	14,592,098
SA U.S. Core Market Fund
Common Stocks	$	440,686	$	—	$	—	$	—	$	440,686
Total Borrowings	$	440,686	$	—	$	—	$	—	$	440,686
Gross amount of recognized liabilities for securities lending transactions									$	440,686
SA U.S. Small Company Fund
Common Stocks	$	3,912,946	$	—	$	—	$	—	$	3,912,946
Total Borrowings	$	3,912,946	$	—	$	—	$	—	$	3,912,946
Gross amount of recognized liabilities for securities lending transactions									$	3,912,946
SA International Value Fund
Common Stocks	$	10,961,837	$	—	$	—	$	—	$	10,961,837
Total Borrowings	$	10,961,837	$	—	$	—	$	—	$	10,961,837
Gross amount of recognized liabilities for securities lending transactions									$	10,961,837
SA Emerging Markets Value Fund
Common Stocks	$	1,994,409	$	—	$	—	$	—	$	1,994,409
Total Borrowings	$	1,994,409	$	—	$	—	$	—	$	1,994,409
Gross amount of recognized liabilities for securities lending transactions									$	1,994,409
SA Real Estate Securities Fund
Common Stocks	$	106,301	$	—	$	—	$	—	$	106,301
Total Borrowings	$	106,301	$	—	$	—	$	—	$	106,301
Gross amount of recognized liabilities for securities lending transactions									$	106,301

⁽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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NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

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, 2018, 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	$6,174,289	$536,565	$17,640,598	$6,466,560

⁽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

Forward Currency Contracts Assets and Collateral Held by Counterparty as of December 31, 2018:

	Gross Amount of		Financial
	Assets Presented		Instruments
	in Statements of		Available for			Collateral
Counterparty	Assets & Liabilities		Offset			Received	Net Amount
Bank of America, N.A		$688,658		$(22,680	)	—		$665,978
HSBC Bank USA		75,611		—		—		75,611
Morgan Stanley & Co., Inc.		4,768,446		(15,228	)	—		4,753,218
State Street Bank and Trust Co		641,575		(418,755	)	—		222,820

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NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

Forward Currency Contracts Liabilities and Collateral Pledged as of December 31, 2018:

	Gross Amounts of			Financial
	Liabilities Presented			Instruments
	in Statements of			Available for				Collateral
Counterparty	Assets & Liabilities			Offset				Pledged	Net Amount
Bank of America, N.A.		$	22,680		$	(22,680	)	—		—
Citibank, N.A.			79,903			—		—	$	79,903
Morgan Stanley & Co., Inc.			15,228			(15,228	)	—		—
State Street Bank and Trust Co.			418,755			(418,755	)	—		—

For the six months ended December 31, 2018, the average monthly principal amount of forward foreign currency exchange contracts was $ 188,098,870.

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.

Investment income 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.

Expenses directly attributable to a specific Fund are charged to the respective Fund. Class specific expenses are charged directly to that share class. Expenses that cannot be attributed to a particular Fund are apportioned among the Funds evenly or based on relative net assets. Expenses are allocated daily to each class of shares based on the relative proportion of net assets of each class.

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, 2018, if any, are reflected in each Fund’s Statement of Assets and Liabilities.

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NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

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, 2018, 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, 2018, for U.S. federal income tax purposes, the SA U.S. Fixed Income Fund had an amount of $2,603,751 in unlimited short-term losses, and the SA U.S. Fixed Income Fund and SA Emerging Markets Value Fund had an amount of $1,026,712 and $2,531,848 in unlimited long-term losses, respectively, available to offset future net realized gains.

At December 31, 2018, the aggregate cost of investment securities, aggregate gross unrealized appreciation (depreciation) and net unrealized appreciation (depreciation) for all securities as computed on a federal income tax basis for each fund were as follows:

							Net Unrealized
			Unrealized		Unrealized		Appreciation
	Cost		Appreciation		Depreciation		(Depreciation)
SA U.S. Fixed Income Fund	$	618,034,094	$	682,873	$	733,651	$	(50,778	)
SA Global Fixed Income Fund		761,836,599		6,801,070		22,071,177		(15,270,107	)
SA U.S. Core Market Fund		340,008,355		366,878,304		10,668,494		356,209,810
SA U.S. Value Fund		428,978,760		129,435,990		36,420,630		93,015,360
SA U.S. Small Company Fund		271,509,740		128,278,467		38,654,639		89,623,828
SA International Value Fund		672,312,659		53,333,270		84,845,535		(31,512,265	)
SA International Small Company Fund		219,082,946		68,343,358		—		68,343,358
SA Emerging Markets Value Fund		210,560,146		28,683,795		34,968,735		(6,284,940	)
SA Real Estate Securities Fund		124,258,880		55,368,247		7,843,881		47,524,366
SA Worldwide Moderate Growth Fund		34,983,398		89,612		1,747,485		(1,657,873	)

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.

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NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

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.

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

As announced by the Trust on October 15, 2018, Loring Ward Holdings Inc. (“Loring Ward”), the parent company of the Trust’s prior investment adviser, LWI Financial Inc., agreed to be acquired by Focus Financial Partners Inc. (“Focus”), a partnership of independent fiduciary wealth management firms that includes The Buckingham Family of Financial Services (the “Transaction”). The Transaction closed on November 30, 2018, at which time Loring Ward merged with an existing Focus subsidiary, the Adviser, which is part of The Buckingham Family of Financial Services. The closing of the Transaction resulted in a change of control of Loring Ward (the “Change of Control”). Consistent with applicable requirements under the 1940 Act, the Investment Advisory and Administrative Services Agreement between Loring Ward and the Fund (the “Advisory Agreement”) contained a provision that the Advisory Agreement would automatically terminate in the event of its “assignment” (as defined in the 1940 Act). The Change of Control caused the assignment of the Advisory Agreement and resulted in the automatic termination of the Advisory Agreement.

The Transaction is not expected to result in any material change in the day-to-day management of the Fund. Loring Ward’s business is expected to continue to operate as part of BAM. At an in person meeting on November 2, 2018 (prior to the Change of Control), the Board considered the approval of an interim investment advisory agreement with BAM (the “Interim Advisory Agreement”) with respect to the Fund to take effect immediately upon the closing of the Transaction. In reliance upon applicable rules under the 1940 Act, BAM will be permitted to provide investment advisory services to the Fund under the Interim Advisory Agreement for up to 150 days following the closing of the Transaction, and may do so without having received the prior approval of shareholders

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NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

of the Fund. The terms and conditions of the Interim Advisory Agreement are identical in all material respects to the Advisory Agreement, including the rate of the investment advisory fee for the Fund. The Interim Advisory Agreement may be terminated prior to the completion of its 150 day term, including in the event that shareholders of the Fund approve the New Advisory Agreement (defined below). Should a Fund’s shareholders not approve the New Advisory Agreement, with respect to a Fund prior to the expiration of the 150-day term of the Interim Advisory Agreement, the Board will consider what other action is necessary, appropriate and in the best interests of that Fund and its shareholders under the circumstances.

At its in-person meeting on November 2, 2018, the Board also considered and approved a new investment advisory agreement with BAM (the “New Advisory Agreement”) with respect to the Fund. The New Advisory Agreement also needs to be approved by shareholders of the Fund at a special meeting of shareholders, at which the Fund’s shareholders will be asked to consider the approval of the New Advisory Agreement (among other items, if any, as described in the proxy statement mailed to shareholders on or about November 30, 2018). The terms and conditions of the New Advisory Agreement are identical in all material respects to the Advisory Agreement, including the rate of the investment advisory fee for the Fund.

For the advisory services provided to the Funds under both the Interim Advisory Agreement and, if approved by shareholders, the New Advisory Agreement, 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		0.40	%
SA U.S. Value Fund		0.40	%
SA U.S. Small Company Fund		0.40	%
SA International Value Fund		0.45	%
SA International Small Company Fund		0.25	%
SA Emerging Markets Value Fund		0.45	%
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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NOTES TO FINANCIAL STATEMENTS — DECEMBER 31, 2018 (Unaudited) (Continued)

Related to the Transaction noted above, the Investment Sub-Advisory Agreement among the Trust, on behalf of each sub-advised Fund, the Adviser and the Sub-Adviser (the “Sub-Advisory Agreement”) also terminated as a result of its assignment. At its in-person meeting on November 2, 2018, the Board considered and approved both an interim Sub-advisory Agreement with DFA and a new Sub-Advisory Agreement with DFA (the “New Sub-Advisory Agreements”), which are each identical in all material respects to the Sub-Advisory Agreements that were in effect through November 30, 2018, including the rate of the sub-advisory fees for each of the sub-advised Funds. Shareholders of each sub-advised Fund will be asked to consider the approval of the New Sub-Advisory Agreement at a special meeting of shareholders.

For the sub-advisory services provided to the Funds under both the Interim Sub-Advisory Agreement and, if approved by shareholders, the New Sub-Advisory Agreement, 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 as follows:

	Sub-Advisory
	Fees
SA U.S. Fixed Income Fund		0.03	%
SA Global Fixed Income Fund		0.03	%
SA U.S. Core Market Fund		0.03	%*
SA U.S. Value Fund		0.10	%
SA U.S. Small Company Fund		0.25	%
SA International Value Fund		0.20	%
SA Emerging Markets Value Fund		0.47	%
SA Real Estate Securities Fund		0.10	%

* 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’ 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 expense ratio after fee waiver and/or expense reimbursement and

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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 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. The expense limitations for the Funds is as follows:

	Expense Limitation
	Investor		Select
	Class		Class
SA U.S. Fixed Income Fund		0.65%		0.45%
SA Global Fixed Income Fund		0.75%		0.55%
SA U.S. Core Market Fund		0.90%		0.70%
SA U.S. Value Fund		1.00%		0.80%
SA U.S. Small Company Fund		1.15%		0.95%
SA International Value Fund		1.15%		0.95%
SA International Small Company Fund		0.75%		0.55%
SA Emerging Markets Value Fund		1.35%		1.15%
SA Real Estate Securities Fund		0.95%		0.75%

Trustees’ Fees and Expenses —For their services as Trustees, the Trustees of the Trust received an annual retainer fee of $96,000, as well as reimbursement for expenses incurred in connection with each meeting of the Board and its Committees. The Chairman of the Board receives an annual supplemental compensation of $9,600 per year. Effective January 1, 2019, the Trustees of the Trust receive an annual retainer fee of $100,800, as well as reimbursement for expenses incurred in connection with each meeting of the Board and its Committees. Also effective January 1, 2019, the Chairman of the Board receives an annual supplemental compensation of $10,080 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, 2018 were as follows:

	Purchases				Sales
	U.S. Government		Other		U.S. Government		Other
SA U.S. Fixed Income Fund	$	182,663,279	$	150,987,800	$	144,512,767	$	190,168,098
SA Global Fixed Income Fund		2,864,776		110,352,489		4,850,921		104,799,366
SA U.S. Core Market Fund		—		26,113,378		—		58,269,499
SA U.S. Value Fund		—		45,760,983		—		50,364,376
SA U.S. Small Company Fund		—		11,984,801		—		24,542,785
SA International Value Fund		—		85,487,826		—		79,882,368
SA International Small Company Fund		N/A		N/A		N/A		N/A
SA Emerging Markets Value Fund		—		16,678,504		—		12,979,233
SA Real Estate Securities Fund		—		8,463,444		—		7,562,067
SA Worldwide Moderate Growth Fund		—		4,488,639		—		2,857,968

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, 2018, 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, 2018			Cost			from Sales			Companies				Depreciation				2018			2018	Companies			Companies
SA Emerging Markets Value Fund		$	3,561,391		$	436,291	$	(321,057	)		$	(2,959	)		$	(253,785	)		$	3,419,881	370,518		$	72,079		$	—
SA Global Fixed Income Fund			4,647,075			461,155		(595,641	)			(10,640	)			(47,659	)			4,454,290	470,358			121,327			—
SA International Value Fund			6,773,459			1,017,704		(303,642	)			7,141				(1,144,428	)			6,350,234	635,023			162,419			—
SA Real Estate Securities Fund			1,867,139			249,802		(329,972	)			3,679				(144,309	)			1,646,339	157,544			61,279			10,068
SA US Core Market Fund			6,416,838			732,528		(370,679	)			47,256				(914,248	)			5,911,695	283,535			77,390			312,706
SA US Fixed Income Fund			4,288,449			360,448		(542,568	)			(4,428	)			1,174				4,103,075	406,648			52,236			—
SA US Small Company Fund			3,209,140			526,691		(174,065	)			15,277				(681,387	)			2,895,656	131,561			13,361			89,712
SA US Value Fund			4,986,282			704,020		(220,344	)			2,899				(928,502	)			4,544,355	303,564			79,542			351,173
Totals		$	35,749,773		$	4,488,639	$	(2,857,968)			$	58,225			$	(4,113,144	)		$	33,325,525			$	639,633		$	763,659

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5. Recent Accounting Pronouncements

In August 2018, the SEC adopted amendments to certain financial statement disclosure requirements to conform them to GAAP for investment companies. These amendments made certain removals from, changes to and additions to existing disclosure requirements under Regulation S-X. These amendments became effective for filings made with the SEC after November 5, 2018. The Funds’ adoption of these amendments, effective with the financial statements prepared as of October 31, 2018, required modified disclosures reflected herein, but had no effect on the Funds’ net assets or results of operations.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820). The amendments in the ASU impact disclosure requirements for fair value measurement. It is anticipated that this change will enhance the effectiveness of disclosures in the notes to the financial statements. This ASU is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted and can include the entire standard or certain provisions that exclude or amend disclosures. For the period ended December 31, 2018, the Funds have chosen to adopt certain provisions of the standard which eliminated the disclosures of transfers between level 1 and level 2 portfolio investments and the policy for the timing of transfers between levels of the fair value hierarchy. Management has evaluated that the full adoption of this ASU will not have a material impact on the Fund’s financial statements.

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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 BAM Advisor Services, LLC d/b/a Loring
Ward 10 Almaden Blvd.
15^thFloor
San Jose, California 95113

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

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Board Approval of the Investment Advisory Agreements and Sub-Advisory Agreements

Advisory Agreements

At an in-person meeting held on November 2, 2018 (the “Meeting”), the Board, consisting solely of Independent Trustees, considered the approval of each of the Interim Advisory Agreements, for a period ending on the earlier of 150 days from the Closing or when Shareholders of a Fund approve the New Advisory Agreement, and each of the New Investment Advisory Agreements, for an initial two-year term, renewable annually thereafter, (collectively, the “Advisory Agreements”).

Factors Considered in Approving the Advisory Agreements

In approving the Advisory Agreements, the Board was advised by counsel to the Independent Trustees and took into account both information prepared specifically in connection with its review of the Advisory Agreements at the Meeting, as well as, where relevant, information that was previously furnished to the Board in connection with the most recent renewal of the Existing Advisory Agreements at an in-person meeting of the Board on May 25, 2018 following a related telephonic meeting of the Board on May 7, 2018 (collectively, the “Prior 15(c) Meeting”).

In connection with the Board’s review of the Advisory Agreements, BAM, together with key personnel from Loring Ward who will continue to manage or supervise the management of the Funds as employees of BAM, advised the Board about a variety of matters, including the following:

● No material changes are currently contemplated as a result of the Transaction in the nature, quality, or extent of services currently provided to the Funds and their shareholders, including investment management or other shareholder services; BAM represented that the additional resources available at BAM could help enhance service quality to the Funds.
 

● All of the key Loring Ward investment advisory personnel who currently assist in the management of the Funds are expected to continue to do so after the Transaction as employees of BAM, if they choose to become employees of BAM. In addition, all key investment personnel of the Sub-Adviser who currently assist in the management of the Sub-Advised Funds are expected to continue to do so after the Transaction.
 

● The terms and conditions of the Advisory Agreements, including each Fund’s contractual fee rate, will remain substantially identical.
 

● In addition, the current fee cap for each Fund, as applicable, will remain in effect after Closing until October 28, 2021 for the Sub-Advised Funds and July 1, 2025 for the Allocation Fund.
 

● The investment philosophy, strong compliance culture and financial resources of BAM, the plans for integrating BAM and Loring Ward and the compatibility of their businesses, and the potential benefits to shareholders of the Funds of BAM becoming investment adviser to the Funds.
 

● BAM has agreed that it will conduct its business, and will, to the extent within its reasonable control, cause each of its affiliates to conduct their businesses, in a manner to enable reliance upon the conditions of Section 15(f) of the 1940 Act, including not imposing any “unfair burden” on the Funds for at least two years from the Closing.

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In their deliberations, the Board considered the factors discussed below, among others. The Independent Trustees did not identify any particular factor or piece of information that was all-important or controlling, and each Trustee may have attributed different weights to the various factors:

The nature, extent and quality of the services provided and to be provided by the Adviser.The Board considered BAM’s favorable attributes, including its investment philosophy, investment management capabilities, experienced leadership and reputation, as well as BAM’s stated commitment to maintaining a strong compliance culture. The Board also considered the capabilities, resources, and personnel of BAM, including personnel of Loring Ward who will join BAM, in order to determine whether BAM is capable of providing the same level of investment management services currently provided to each Fund, as well as the transition and integration plans to move management of the Funds to BAM. The Board also reviewed extensive information provided by BAM related to its business, legal and regulatory affairs. This review considered the resources available to BAM to provide the services specified under the Advisory Agreements, including the supervision of the existing Sub-Adviser to the Sub-Advised Funds.

Based on its review of materials prepared for the Meeting, the Board considered the experience and qualifications of the personnel of BAM who will be responsible for providing services to the Funds. The Board also noted the role BAM will perform in overseeing the Sub-Adviser relating to portfolio construction and management and to compliance with the Funds’ investment objectives and policies, the Trust’s compliance policies and procedures, and applicable laws and regulations.

The Board then considered the resources and infrastructure that BAM intends to devote to its compliance programs to reasonably ensure compliance with applicable laws and regulations, as well as BAM’s commitment to those programs. The Board concluded that BAM will be capable of providing investment advisory services of the same high quality as the investment advisory services provided to the Funds by Loring Ward, and that these services are appropriate in scope and extent in light of the Funds’ operations, the competitive landscape of the investment company business and investor needs.

The investment performance of the Funds achieved by the Adviser. The Board considered that it is anticipated that all of the portfolio managers and other key investment personnel currently managing the Funds are expected to continue to do so following the Transaction. The Board also considered its recent review, at the Previous 15(c) Meeting, of the performance of each of the Funds for various trailing time periods, including over longer-term trailing time periods, on an absolute basis, as well as relative to each Fund’s benchmark index, certain funds determined by Broadridge Financial Solutions, Inc. to be comparable based on investment style (the “Broadridge Peer Group”) and funds managed by the Sub-Adviser with comparable investment styles. The Board noted that at the Prior 15(c) Meeting, it had concluded that the investment performance of each Fund remained competitive relative to its Broadridge Peer Group and benchmark index. The Trustees noted that based on the information presented at the Meeting and its discussion with BAM, it believes that BAM is capable of generating a level of long-term investment performance that is appropriate in light of each Funds’ investment objectives, policies and strategies and competitive with many other investment companies.

The extent to which the Adviser will realize economies of scale as the Trust grows larger and whether fee levels reflect these economies of scale for the benefit of Fund shareholders. The Board evaluated potential or anticipated economies of scale in relation to the services BAM will provide to each Fund. The Board considered historic and potential growth rates in the Funds’ assets, and the Board noted that the Funds are designed to work together as a set of asset allocation choices and that economies of scale (and other factors) are most appropriately assessed on a Trust-level and not on a Fund-by-Fund basis. The Board also noted that although

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the Funds do not have advisory fee breakpoints, BAM has contractually agreed to maintain all of the current fee caps, pursuant to new Fee Waiver and Expense Reimbursement Letter Agreements (with substantially identical terms to the existing Fee Waiver and Expense Reimbursement Letter Agreements), which will remain in effect after Closing until October 28, 2021 for the Sub-Advised Funds and July 1, 2025 for the Allocation Fund, whereby it will waive a portion of its advisory fees and/or reimburse each of the Funds for certain expenses so that each Fund does not exceed its operating expense limitation. The Board also noted that it will have the opportunity to periodically re-examine whether a Fund or the Trust has achieved economies of scale, and the appropriateness of investment advisory and administrative fees payable to BAM, in the future.

Total expenses of the Funds and competitiveness of fees to be paid to the Adviser. The Board considered that the terms and conditions of the Advisory Agreements with BAM, including each Fund’s contractual fee rate, will remain substantially identical to the existing fee rate for each Fund, for the initial two-year term of the Advisory Agreements. The Board also noted the current fee caps, as set forth in the new Fee Waiver and Expense Reimbursement Letter Agreements with BAM, will remain in effect after Closing until October 28, 2021 for the Sub-Advised Funds and July 1, 2025 for the Allocation Fund. The Board noted that it had recently approved the existing fee rate for each Fund at the Prior 15(c) Meeting after considering extensive information, including Broadridge Peer Group information, which indicated that each Fund’s net expense ratio, a figure which includes all of the Fund’s operating expenses, excluding any dividend, interest or borrowing expenses, minus any expense waivers or other reimbursements, was below the median expense ratio of its respective Broadridge Peer Group.

The profits to be realized by the Adviser and its affiliates, from their relationship with the Trust.The Board considered potential benefits BAM and its affiliates may derive from their relationship with the Funds, including compensation received by BAM for the provision of certain shareholder and administrative services to the Funds. It was noted that BAM does not intend to receive any soft dollar research benefits from the Funds. The Board also reviewed information provided by BAM regarding its financial stability. The Board considered the fact that the Funds were designed to operate in an integrated manner as a set of asset allocation vehicles and, for that reason, the anticipated profitability of BAM on a Fund-by-Fund basis was not as relevant to the Board’s determinations as overall profitability of BAM at the Trust level. The Board considered BAM’s representation that it anticipates profitability for BAM at the Trust level under the Advisory Agreements to be similar to profitability for Loring Ward at the Trust level during recent periods. The Board noted the difficulty of accurately projecting profitability in the current circumstances and noted that it would have the opportunity to give further consideration to BAM’s profitability with respect to the Funds at the end of the initial two-year term of the Advisory Agreements.

Other Considerations.In approving the Advisory Agreements, the Board considered that BAM will be making a substantial commitment to the retention and recruitment of high quality personnel, and has undertaken to maintain the same level of financial, compliance and operational resources reasonably necessary to manage the Funds in a professional manner that is consistent with the best interests of the Funds and their shareholders and that has previously been provided to the Funds. The Board also considered that BAM has undertaken to make a commitment to the management and success of the Funds, and to employ its resources in an effort to both maintain and grow the Funds by seeking out expanded distribution opportunities, where possible.

Conclusions.In approving the Advisory Agreements, the Board concluded that the terms of the Advisory Agreements are fair and reasonable and that approval of the Advisory Agreements is in the best interests of each Fund and its shareholders. In reaching this determination, the Board considered that BAM is expected to

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provide a high level of service to each Fund; that it has confidence in BAM’s capabilities to manage the Funds consistently with their respective specified investment objective and strategies; that each Fund’s fee structure appeared to the Board to be reasonable and fair given the nature and quality of services provided; and that the benefits that will accrue to BAM by virtue of its relationship to the Funds are reasonable in comparison with the benefits accruing to each Fund. After this review and discussion, the Board concluded that the approval of the Advisory Agreements for an initial two-year term was in the best interests of each Fund and its shareholders.

Sub-Advisory Agreements

At the Meeting, the Board, consisting solely of Independent Trustees, considered the approval of each of the Interim Sub-Advisory Agreements, for a period ending on the earlier of 150 days from the Closing or when Shareholders of a Fund approve the New Sub-Advisory Agreement, and each of the New Sub-Advisory Agreements, for an initial two-year term, renewable annually thereafter, (collectively, the “Sub-Advisory Agreements”).

Factors Considered in Approving the Sub-Advisory Agreements

In approving the Sub-Advisory Agreements, the Board was advised by counsel to the Independent Trustees and took into account relevant information that was previously furnished to the Board in connection with the most recent renewal of the Existing Sub-Advisory Agreements at the Prior 15(c) Meeting, as well as representations that:

● There have been no material changes in the abilities of the Sub-Adviser, the manner in which the Sub-Adviser manages the Sub-Advised Funds, or the Sub-Adviser’s capacity as the investment sub-adviser to the Sub-Advised Funds since the Prior 15(c) Meeting.
 

● No material changes are currently contemplated as a result of the Transaction in the nature, quality, or extent of the sub-advisory services currently provided to the Sub-Advised Funds and their shareholders by the Sub-Adviser.
 

● All of the current portfolio managers and other key investment personnel of the Sub-Adviser who currently assist in the management of the Sub-Advised Funds are expected to continue to do so after the Transaction.
 

● The terms and conditions of the Sub-Advisory Agreements, including each Sub-Advised Fund’s contractual fee rate, will remain the same as the terms of the Existing Sub-Advisory Agreements for the initial two-year term of each Sub-Advisory Agreement.

In their deliberations, the Board considered the factors discussed below, among others. The Independent Trustees did not identify any particular factor or piece of information that was all-important or controlling, and each Trustee may have attributed different weights to the various factors:

The nature, extent and quality of the services provided and to be provided by the Sub-Adviser.The Board considered the experience and qualifications of the key investment personnel of the Sub-Adviser, including the portfolio managers, who are responsible for providing services to the Sub-Advised Funds. The Board noted the role of the Sub-Adviser relating to portfolio construction and management and to compliance with the Sub-Advised Funds’ investment objectives and policies, the Trust’s compliance policies and procedures, and applicable laws and regulations, as well as the Sub-Adviser’s role in implementing the Board’s directives relating to the Sub-Advised Funds.

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Based on its consideration and review of the foregoing information, the Board concluded that the nature, extent and quality of services to be provided by the Sub-Adviser were satisfactory and that there was a reasonable basis on which to conclude that the Sub-Adviser would continue to provide high quality investment services to the Sub-Advised Funds.

The investment performance of the Sub-Advised Funds achieved by the Adviser and the Sub-Adviser. The Board considered that it is anticipated that all of the portfolio managers and other key investment personnel currently managing the Sub-Advised Funds are expected to continue to do so following the Transaction. The Board also considered its recent review, at the Prior 15(c) Meeting, of the performance of each of the Sub-Advised Funds for various trailing time periods, including over longer-term trailing time periods, on an absolute basis, as well as relative to each Sub-Advised Fund’s benchmark index, the Broadridge Peer Group and funds managed by the Sub-Adviser with comparable investment styles. The Board noted that at the Prior 15(c) Meeting, it had concluded that the investment performance of each Sub-Advised Fund remained competitive relative to its Broadridge Peer Group and benchmark index. The Trustees noted that based on the information presented at the Meeting and Prior 15(c) Meeting, as well as periodic discussions with the Sub-Adviser, it believes that the Sub-Adviser remains capable of generating a level of long-term investment performance that is appropriate in light of each Sub-Advised Fund’s investment objectives, policies and strategies and is competitive with other investment companies.

The extent to which the Sub-Adviser realizes economies of scale as the Trust grows larger and whether fee levels reflect these economies of scale for the benefit of Sub-Advised Fund shareholders.The Board evaluated potential or anticipated economies of scale in relation to the services the Sub-Adviser will provide to each Fund. The Board considered historic and potential growth rates in the Sub-Advised Funds’ assets, and noted that the Funds are designed to work together as a set of asset allocation choices and that economies of scale (and other factors) are most appropriately assessed on a Trust-level and not on a Fund-by-Fund basis. The Board noted that the Sub-Advised Funds do not have sub-advisory fee breakpoints. However, the Board considered that future growth in the assets of the Sub-Advised Funds could allow BAM to negotiate lower fees with the Sub-Adviser, to the extent such growth were to create economies of scale that could appropriately be passed through to Shareholders in the form of future sub-advisory fee reductions. The Board also noted that it will have the opportunity to periodically re-examine whether a Fund or the Trust has achieved economies of scale, and the appropriateness of sub-advisory fees payable to the Sub-Adviser, in the future.

Total expenses of the Sub-Advised Funds and competitiveness of fees to be paid to the Sub-Adviser. The Board considered the sub-advisory fee rates charged by the Sub-Adviser, as well as the total effective management fee rate of each Sub-Advised Fund, after taking into consideration each Sub-Advised Fund’s expense limitation arrangements. The Board noted that the terms and conditions of the Sub-Advisory Agreements, including that each Sub-Advised Fund’s contractual fee rate under the relevant Sub-Advisory Agreement will remain the same, for an initial two-year term, as the contractual fee rate in the Existing Sub-Advisory Agreements, which the Board recently approved at the Prior 15(c) Meeting.

In assessing the fees charged by the Sub-Adviser, the Board noted that the fees ranged from 3 to 47 basis points (“bps”) annually, with most of them at or below 15 bps annually, except for the SA International Value Fund (20 bps annually), the SA U.S. Small Company Fund (25 bps annually) and the SA Emerging Markets Value Fund (47 bps annually). The Board took into consideration that these fees reflected an arm’s-length negotiation between Loring Ward and the Sub-Adviser, and determined that the fees were reasonable in light of the services provided to each Sub-Advised Fund.

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The Board also noted that each Sub-Advised Fund’s total net expense ratio, a figure that includes all operating expenses, excluding any dividend, interest or borrowing expenses, minus any expense waivers or other reimbursements, was below the median expense ratio of its respective Broadridge Peer Group.

The profits to be realized by the Sub-Adviser and its affiliates, from their relationship with the Trust. The Board considered the profitability rates of the Sub-Adviser and noted that the Sub-Adviser has previously represented that it no longer accrues soft-dollar research credits and has wound down the remaining aspects of its soft-dollar program. The Board reviewed information provided by the Sub-Adviser regarding its financial stability and the profitability attributable to its agreements with the Sub-Advised Funds provided in connection with the Prior 15(c) Meeting. After such review, the Board determined that the profitability rates of the Sub-Adviser, with respect to the Sub-Advisory Agreements, were reasonable in consideration of the services provided to the Sub-Advised Funds.

Conclusions. In approving the Sub-Advisory Agreements, the Board concluded that the terms of the Sub-Advisory Agreements are fair and reasonable and that approval of the Sub-Advisory Agreements is in the best interests of each Sub-Advised Fund and its shareholders. In reaching this determination, the Board considered that the Sub-Adviser is expected to continue to provide a high level of service to each Sub-Advised Fund; the performance of each Sub-Advised Fund across multiple periods and, in the case of underperforming Sub-Advised Funds, that it retained confidence in the Sub-Adviser’s capabilities to manage such Sub-Advised Funds in a manner consistent with their respective specified investment objective and strategies; that each Sub-Advised Fund’s fee structure appeared to the Board to be reasonable and fair given the nature and quality of services provided; and that the benefits accruing to the Sub-Adviser by virtue of its relationship to the Trust were reasonable in comparison with the benefits accruing to each Sub-Advised Fund. After this review and discussion, the Board concluded that the approval of the Sub-Advisory Agreements for an initial two-year term was in the best interests of each Sub-Advised Fund and its shareholders.

88

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, 2018 through December 31, 2018. 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 Account		Ending Account		Annual Expense		Expenses Paid During		Beginning Account		Ending Account		Annual Expense		Expenses Paid During
	Value		Value		Ratio		Period		Value		Value		Ratio		Period
SA U.S. Fixed Income Fund	$	1,000	$	1,010.20	0.64	%	$	3.24	$	1,000	$	1,011.40	0.41	%		$	2.08
SA Global Fixed Income Fund		1,000		1,012.80	0.73			3.70		1,000		1,013.70	0.51				2.59
SA U.S. Core Market Fund		1,000		922.90	0.87			4.22		1,000		923.70	0.66				3.20
SA U.S. Value Fund		1,000		899.30	0.96			4.60		1,000		900.00	0.74				3.54
SA U.S. Small Company Fund		1,000		832.30	1.14			5.26		1,000		833.20	0.92				4.25
SA International Value Fund		1,000		862.20	1.12			5.26		1,000		863.10	0.90				4.23
SA International Small Company Fund		1,000		821.70	0.75			3.44		1,000		823.00	0.52				2.39
SA Emerging Markets Value Fund		1,000		947.10	1.35			6.63		1,000		948.30	1.15				5.65
SA Real Estate Securities Fund		1,000		956.30	0.95			4.68		1,000		956.90	0.75				3.70

	Actual Expenses
	Beginning	Ending	Annual	Expenses
	Account	Account	Expense	Paid During
	Value	Value	Ratio	Period
SA Worldwide Moderate Growth Fund	$1,000	$926.80	0.00%	$0.00

89

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		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	$	1,021.98	0.64	%	$	3.26	$	1,000	$	1,023.14		0.41	%	$	2.09
SA Global Fixed Income Fund		1,000		1,021.53	0.73			3.72		1,000		1,022.63		0.51			2.60
SA U.S. Core Market Fund		1,000		1,020.82	0.87			4.43		1,000		1,021.88		0.66			3.36
SA U.S. Value Fund		1,000		1,020.37	0.96			4.89		1,000		1,021.48		0.74			3.77
SA U.S. Small Company Fund		1,000		1,019.46	1.14			5.80		1,000		1,020.57		0.92			4.69
SA International Value Fund		1,000		1,019.56	1.12			5.70		1,000		1,020.67		0.90			4.58
SA International Small Company Fund		1,000		1,021.42	0.75			3.82		1,000		1,022.58		0.52			2.65
SA Emerging Markets Value Fund		1,000		1,018.40	1.35			6.87		1,000		1,019.41		1.15			5.85
SA Real Estate Securities Fund		1,000		1,020.42	0.95			4.84		1,000		1,021.42		0.75			3.82

	Hypothetical Expenses
	Beginning	Ending	Annual	Expenses
	Account	Account	Expense	Paid During
	Value	Value	Ratio	Period
SA Worldwide Moderate Growth Fund	$1,000	$1,025.21	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.

90

Selected Financial Statements of DFA Investment Dimensions Group Inc.

International Small Company Portfolio

TABLE OF CONTENTS

	Page
Definitions of Abbreviations and Footnotes	92
Disclosure of Fund Expenses — October 31, 2018 (Unaudited)	93
Disclosure of Portfolio Holdings — October 31, 2018 (Unaudited)	94
Schedule of Investments — December 31, 2018 (Unaudited)	95
Schedule of Investments — October 31, 2018	96
Statement of Assets and Liabilities — December 31, 2018 (Unaudited)	97
Statement of Assets and Liabilities — October 31, 2018	98
Statement of Operations — October 31, 2018	99
Statement of Changes in Net Assets	100
Financial Highlights	101
Notes to Financial Statements — October 31, 2018	102
Report of Independent Registered Public Accounting Firm	109

91

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
	P.L.C.	Public Limited Company
	SA	Special Assessment
	ST	Special Tax
Investment Footnotes
	»	Securities that have generally been fair value factored. See Note B to Financial Statements.
	‡	Calculated as a percentage of total net assets. Percentages shown parenthetically next to the categoryheadings have been calculated as a percentage of total investments. “Other Securities” are those securitiesthat are not among the top 50 holdings in unaffiliated issuers of the Fund or do not represent more than 1.0%of the net assets of the Fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities.
	#	Total or Partial Securities on Loan.
	*	Non-Income Producing Securities.
	@	Security purchased with cash proceeds from Securities on Loan.
	§	Affiliated Fund.
	†	See Note B to Financial Statements.
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)
		and/or Underlying 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

92

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

DISCLOSURE OF FUND EXPENSES
(Unaudited)

The following Expense Tables is 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, 2018

EXPENSE TABLES

	Beginning	Ending			Expenses
	Account	Account		Annualized	Paid
	Value	Value		Expense	During
	05/01/18	10/31/18		Ratio*	Period*
International Small Company Portfolio**
Actual Fund Return	$1,000.00	$	869.60	0.52%	$2.45
Hypothetical 5% Annual Return	$1,000.00	$	1,022.58	0.52%	$2.65

__________________

*	Expenses are equal to the fund’s annualized expense ratio for the six-month period, multiplied by the averageaccount value over the period, multiplied by the number of days in the most recent six-month period (184), thendivided by the number of days in the year (365) to reflect the six-month period.
**	The Portfolio is a Fund of Funds. The expenses shown reflect the direct expenses of the Fund of Funds and theFund of Funds’ portion of the expenses of its Underlying Funds (Affiliated Investment Companies).

93

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 28, 2018. They are available upon request, without charge, by calling collect: (512) 306-7400; by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, TX 78746; or by visiting the SEC’s website at http://www.sec.gov.

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; by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, TX 78746; or by visiting the SEC’s website at http://www.sec.gov.

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 used. The following table, which presents portfolio holdings as a percentage of total investments before short-term investments and collateral for loaned securities, is provided in compliance with this 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 in 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%

94

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

SCHEDULE OF INVESTMENTS

December 31, 2018
(Unaudited)

		Value†
AFFILIATED INVESTMENT COMPANIES — (100.0%)
	Investment in The Continental Small Company Series        of The DFA Investment Trust Company	$	4,293,408,991
	Investment in The Japanese Small Company Series        of The DFA Investment Trust Company		2,804,700,910
	Investment in The United Kingdom Small Company Series        of The DFA Investment Trust Company		1,942,304,617
	Investment in The Asia Pacific Small Company Series        of The DFA Investment Trust Company		1,238,371,588
	Investment in The Canadian Small Company Series        of The DFA Investment Trust Company		964,972,865
	TOTAL INVESTMENTS IN AFFILIATED
	INVESTMENT COMPANIES (Cost $11,566,954,112)	$	11,243,758,971
	TOTAL INVESTMENTS — (100.0%) (Cost $11,566,954,112)^	$	11,243,758,971

____________________
^	The cost for federal income tax purposes is $11,566,954,112.

As of December 31, 2018, 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	80	03/15/19	$	9,663,041	$	10,020,800	$	357,759
Total Futures Contracts			$	9,663,041	$	10,020,800	$	357,759

Summary of the Portfolio’s investments as of December 31, 2018, 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	$	11,243,758,971	—	—	$	11,243,758,971
Futures Contracts**		357,759	—	—		357,759
TOTAL	$	11,244,116,730	—	—	$	11,244,116,730

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

95

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

SCHEDULE OF INVESTMENTS

October 31, 2018

		Value†
AFFILIATED INVESTMENT COMPANIES — (100.0%)
	Investment in The Continental Small Company Series        of The DFA Investment Trust Company	$	4,732,462,404
	Investment in The Japanese Small Company Series        of The DFA Investment Trust Company		3,208,487,359
	Investment in The United Kingdom Small Company Series        of The DFA Investment Trust Company		2,114,123,719
	Investment in The Asia Pacific Small Company Series        of The DFA Investment Trust Company		1,382,817,849
	Investment in The Canadian Small Company Series        of The DFA Investment Trust Company		1,118,718,689
	TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES	$	12,556,610,020

At October 31, 2018, 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	710	12/21/18	$	102,825,074	$	96,244,050	$	(6,581,024	)
Total futures contracts			$	102,825,074	$	96,244,050	$	(6,581,024	)

Summary of the Portfolio’s investments as of October 31, 2018, 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	$	12,556,610,020		—	—	$	12,556,610,020
Futures Contracts**		(6,581,024	)	—	—		(6,581,024	)
TOTAL	$	12,550,028,996		—	—	$	12,550,028,996

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

96

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018
(Unaudited)
(Amounts in thousands, except share and per share amounts)

ASSETS:
Investments in Affiliated Investment Companies at Value	$	11,243,759
Segregated Cash for Futures Contracts		1,050
Cash		17,848
Receivables:
Fund Shares Sold		52,478
Futures Margin Variation		151
Prepaid Expenses and Other Assets		135
Total Assets		11,315,421
LIABILITIES:
Payables:
Fund Shares Redeemed		92,131
Due to Advisor		3,972
Accrued Expenses and Other Liabilities		760
Total Liabilities		96,863
NET ASSETS	$	11,218,558
NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE:
Institutional Class Shares — based on net assets of $11,218,558 and        shares outstanding of 704,118,865	$	15.93
NUMBER OF SHARES AUTHORIZED		1,500,000,000
NET ASSETS CONSIST OF:
Paid-In Capital	$	11,713,288
Total Distributable Earnings (Loss)		(494,730	)
NET ASSETS	$	11,218,558

See accompanying Notes to Financial Statements.
97

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

STATEMENTS OF ASSETS AND LIABILITIES

OCTOBER 31, 2018
(Amounts in thousands, except share and per share amounts)

ASSETS:
Investments in Affiliated Investment Companies at Value	$	12,556,610
Segregated Cash for Futures Contracts		4,860
Cash		92,276
Receivables:
Fund Shares Sold		15,268
Futures Margin Variation		1,126
Prepaid Expenses and Other Assets		79
Total Assets		12,670,219
LIABILITIES:
Payables:
Fund Shares Redeemed		8,833
Due to Advisor		4,469
Accrued Expenses and Other Liabilities		713
Total Liabilities		14,015
NET ASSETS	$	12,656,204
NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE:
Institutional Class Shares — based on net assets of $12,656,204 and        shares outstanding of 685,566,284	$	18.46
NUMBER OF SHARES AUTHORIZED		3,000,000,000
NET ASSETS CONSIST OF:
Paid-In Capital	$	11,430,392
Total Distributable Earnings (Loss)		1,225,812
NET ASSETS	$	12,656,204

See accompanying Notes to Financial Statements.
98

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO*

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED OCTOBER 31, 2018
(Amounts in thousands)

Investment Income
Net Investment Income Received from Affiliated Investment Companies:
Dividends (Net of Foreign Taxes Withheld of $29,969)	$	337,718
Income from Securities Lending		41,042
Expenses Allocated from Affiliated Investment Companies		(16,192	)
Total Investment Income		362,568
Fund Investment Income
Fund Expenses
Investment Management Fees		56,043
Accounting & Transfer Agent Fees		347
Custodian Fees		4
Filing Fees		266
Shareholders’ Reports		473
Directors’/Trustees’ Fees & Expenses		57
Professional Fees		84
Other		95
Total Expenses		57,369
��  Net Expenses		57,369
Net Investment Income (Loss)		305,199
Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) on:
Transactions Allocated from Affiliated Investment Company**		549,889
Futures		17,382
Change in Unrealized Appreciation (Depreciation) of:
Transactions Allocated from Affiliated Investment Company		(2,214,609	)
Futures		(9,491	)
Net Realized and Unrealized Gain (Loss)		(1,656,829	)
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(1,351,630	)

____________________

*	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.

See accompanying Notes to Financial Statements.
99

DFA INVESTMENT DIMENSIONS GROUP INC.

INTERNATIONAL SMALL COMPANY PORTFOLIO

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)

	Year			Year
	Ended			Ended
	Oct. 31, 2018			Oct. 31, 2017
Increase (Decrease) in Net Assets
Operations:
Net Investment Income (Loss)	$	305,199		$	254,211
Net Realized Gain (Loss) on:
Investment Securities Sold*		—			422,014
Transactions Allocated from Affiliated Investment Company*,**		549,889
Futures		17,382			11,549
Foreign Currency Transactions		—			(1,764	)
Change in Unrealized Appreciation (Depreciation) of:
Investment Securities and Foreign Currency		—			2,134,951
Transactions Allocated from Affiliated Investment Company		(2,214,609	)		—
Futures		(9,491	)		5,699
Translation of Foreign Currency Denominated Amounts		—			864
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,351,630	)		2,827,524
Distributions From:^
Institutional Class Shares		(711,038	)		(475,617	)
Total Distributions		(711,038	)		(475,617	)
Capital Share Transactions (1):
Shares Issued		(2,606,895	)		2,235,300
Shares Issued in Lieu of Cash Distributions		680,889			456,455
Shares Redeemed		(2,059,202	)		(1,940,733	)
Net Increase from Capital Share Transactions		1,228,582			751,022
Total Increase (Decrease) in Net Assets		(834,086	)		3,102,929
Net Assets
Beginning of Year		13,490,290			10,387,361
End of Year	$	12,656,204		$	13,490,290
(1) Shares Issued and Redeemed:
Shares Issued		124,547			116,685
Shares Issued in Lieu of Cash Distributions		33,057			25,675
Shares Redeemed		(98,779	)		(99,987	)
Net Increase (Decrease) from Shares Issued and Redeemed		58,825			42,373

____________________

*	Net of foreign capital gain taxes withheld for the fiscal year ended October 31, 2018 of $0, $0 and $0, respectively.
**	Net of foreign capital gain taxes withheld for the fiscal year ended October 31, 2017 of $0, $0 and $0, respectively.
^	Distributions from net investment income and net realized capital gains are combined for the years/period ended October 31, 2017 and October 31, 2018, respectively. Comparable prior year information has been revised to reflect current year presentation, if applicable. See Note E in the Notes to Financial Statements for more information regarding distributions and see Note O in the Notes to Financial Statements for more information regarding recently issued accounting standards.

See accompanying Notes to Financial Statements.
100

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,
	2018			2017			2016			2015			2014
Net Asset Value, Beginning of Year	$	21.52		$	17.78		$	17.78		$	18.24		$	19.40
Income from Investment Operations
Net Investment Income (Loss) (A)		0.46			0.41			0.43			0.41			0.42
Net Gains (Losses) on Securities               (Realized and Unrealized)		(2.41	)		4.13			0.48			0.12			(0.62	)
Total from Investment Operations		(1.95	)		4.54			0.91			0.53			(0.20	)
Less Distributions
Net Investment Income		(0.44	)		(0.34	)		(0.51	)		(0.42	)		(0.42	)
Net Realized Gains		(0.67	)		(0.46	)		(0.40	)		(0.57	)		(0.54	)
Total Distributions		(1.11	)		(0.80	)		(0.91	)		(0.99	)		(0.96	)
Net Asset Value, End of Year	$	18.46		$	21.52		$	17.78		$	17.78		$	18.24
Total Return		(9.54	)%		26.54	%		5.43	%		3.30	%		(1.09	)%
Net Assets, End of Year (thousands)	$	12,656,204		$	13,490,290		$	10,387,361		$	9,323,492		$	8,844,517
Ratio of Expenses to Average        Net Assets *(B)		0.53	%		0.53	%		0.53	%		0.54	%		0.53	%
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	%		0.53	%		0.54	%		0.53	%
Ratio of Net Investment Income to        Average Net Assets		2.18	%		2.14	%		2.47	%		2.30	%		2.15	%
*The Ratio of Expenses to Average        Net Assets is inclusive of acquired        fund fees and expenses incurred by        the Portfolio indirectly as a result of        Portfolio’s investment in Underlying        Funds as follows		0.12	%		0.12	%		0.13	%		0.12	%		0.10	%

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 and two 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 (“Master Funds”) within The DFA Investment Trust Company (“DFAITC”).

At October 31, 2018, 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 10/31/18
International Small Company Portfolio	The Continental Small Company Series	87%
	The Japanese Small Company Series	84%
	The United Kingdom Small Company Series	97%
	The Asia Pacific Small Company Series	80%
	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, the 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 use 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, and 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 Funds) are valued at their respective daily net assets values as reported by their administrator.

The Portfolio’s investments in the Master Funds 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 methodology or inputs used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

2.Deferred Compensation Plan:Each eligible Director of the Fund may elect to participate 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: the 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.

The Directors may receive their distributions of proceeds by 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. The 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, 2018, 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 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 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 received distributions 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, using the effective interest method. Expenses directly attributable to a Portfolio are directly charged. Common expenses of the Fund or the Portfolio 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. Additionally, 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 and Administrator:

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

For the year ended October 31, 2018, 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

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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, 2018, the total related amounts paid by the Fund to the CCO were $322 (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, 2018, the total liability for deferred compensation to Directors was $321 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 that these differences are permanent, they are charged or credited to paid-in capital or distributable earnings, as appropriate, in the period that the differences arise. Accordingly, the permanent differences as of October 31, 2018, 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 accounts. These reclassifications had no effect on net assets or net asset value per share.

The tax character of dividends and distributions declared and paid during the years ended October 31, 2018 and October 31, 2018 were as follows (amounts in thousands):

	Net Investment
	Income and
	Short-Term			Long-Term			Tax Exempt
	Capital Gain			Capital Gains			Income	Total
International Small Company Portfolio
2017		$	224,540		$	251,076	—		$	475,616
2018			335,310			375,728	—			711,038

At October 31, 2018, 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	$195,298	$517,618	—	$534,015	$1,246,931

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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. Additionally, such losses must be used prior to the losses incurred in the years preceding enactment. As of October 31, 2018, the Portfolio did not have any capital loss carryforwards available to offset future realized capital gains.

At October 31, 2018, 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	$12,016,014	$637,481	(103,466)	$534,015

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.

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, in an amount 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. The Portfolio entering into stock index

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futures 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.

Securities have been segregated as collateral for open futures contracts.

The average volume (based on the open positions at each fiscal month-end) of derivative activity for the year ended October 31, 2018 (amounts in thousands):

	Futures
International Small Company Portfolio	$112,778

The following is a summary of the Portfolio’s derivative instrument holdings categorized by primary risk exposure as of October 31, 2018 (amounts in thousands):

	Liability Derivatives Value
	Total Value at	Equity
	October 31, 2018	Contracts*,(1)
International Small Company Portfolio	$(6,581)	$(6,581)

(1) Presented on Statements of Assets and Liabilities as Payables: Futures Margin Variation.

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

The following is a summary of the realized and change in unrealized gains and losses from the Portfolios’ derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2018 (amounts in thousands):

	Realized Gain (loss) on
	Derivatives
				Equity
	Total			Contracts(1)
International Small Company Portfolio	$	17,382		$	17,382
	Change in Unrealized Appreciation
	(Depreciation) on Derivatives
				Equity
	Total			Contracts(2)
International Small Company Portfolio	$	(9,491	)	$	(9,491	)

(1) Presented on Statements of Operations as Net Realized Gain (Loss) on: Futures.
(2) Presented on Statements of Operations as Change in Unrealized Appreciation (Depreciation) of: Futures.

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 28, 2018, with its domestic custodian bank. A line of credit with similar terms was in effect through March 28, 2018. 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 27, 2019.

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 5, 2018. A line of credit with similar terms was in effect through January 5, 2018. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of

106

$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 4, 2019.

There were no borrowings by the Portfolio under the lines of credit during the year ended October 31, 2018.

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, 2018.

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 March 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-08 which changes the amortization period for a callable debt security from the maturity date to the earliest call date. The ASU is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. At this time, management is evaluating the implications of these changes on the financial statements.

In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurements” (“ASU 2018-13”). This update makes certain removals from, changes to and additions to existing disclosure requirements for fair value measurement. ASU 2018-13 does not change fair value measurements already required or permitted by existing standards. ASU 2018-13 is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Portfolios’ early adoption of certain of the ASU 2018-13 disclosure requirements are reflected within these financial statements prepared as of October 31, 2018. Management does not believe that adoption of the remaining disclosure requirements within ASU 2018-13 will materially impact the Portfolios’ financial statements.

In August 2018, the SEC adopted amendments to certain financial statement disclosure requirements to conform them to GAAP for investment companies. These amendments made certain removals from, changes to and additions to existing disclosure requirements under Regulation S-X. These amendments became effective for filings made with the SEC after November 5, 2018. The Portfolios’ adoption of these amendments, effective with these financial statements prepared as of October 31, 2018, required modified disclosures reflected herein, but had no effect on the Portfolios’ net assets or results of operations.

107

Comparable prior year information presented in the Statements of Changes in Net Assets has been revised to reflect current disclosure requirements prescribed by these amendments. Amounts originally presented as of October 31, 2017 are as follows (amounts in thousands):

	Distribution from:
	Net			Net			Net
	Investment Income			Short-Term Gains			Long-Term Gains			Total
International Small Company Portfolio - Institutional Class	$	(205,687	)	$	(18,854	)	$	(251,076	)	$	(475,617	)

	Undistributed Net Investment
	Income (Distributions
	in Excess of Net Investment Income)
International Small Company Portfolio	$19,361

J. Other:

At October 31, 2018, 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	61%

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 International Small Company Portfolio

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the schedule of investments, of the fund listed in the table below (one of the portfolios constituting DFA Investment Dimensions Group Inc., hereafter referred to as the “Portfolio”) as of October 31, 2018, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of October 31, 2018, the results of its operations, the changes in its net assets, and the financial highlights for the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

	Statement of	Statement of	Financial
Fund	operations	changes in net assets	highlights
International Small Company Portfolio	For the year ended	For the years ended	For the years ended
	October 31, 2018	October 31, 2018	October 31, 2018,
		and 2017	2017, 2016, 2015
			and 2014

Basis for Opinion

These financial statements are the responsibility of the Portfolio’s management. Our responsibility is to express an opinion on the Portfolio’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Portfolios in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2018 by correspondence with the transfer agent of the investee funds. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania
December 21, 2018

We have served as the auditor of one or more investment companies in Dimensional Fund Advisors L.P. investment company group since 1981.

109

Selected Financial Statements of The DFA Investment Trust Company

The Japanese Small Company Series

The Asia Pacific Small Company Series

The United Kingdom Small CompanySeries

The Continental Small Company Series

The Canadian Small Company Series

TABLE OF CONTENTS

	Page
Disclosure of Fund Expenses — October 31, 2018 (Unaudited)	111
Disclosure of Portfolio Holdings — October 31, 2018 (Unaudited)	113
Summary Schedules of Portfolio Holdings — December 31, 2018 (Unaudited)
The Japanese Small Company Series	114
The Asia Pacific Small Company Series	117
The United Kingdom Small Company Series	120
The Continental Small Company Series	123
The Canadian Small Company Series	127
Summary Schedules of Portfolio Holdings — October 31, 2018
The Japanese Small Company Series	130
The Asia Pacific Small Company Series	133
The United Kingdom Small Company Series	136
The Continental Small Company Series	140
The Canadian Small Company Series	144
Statement of Assets and Liabilities — December 31, 2018 (Unaudited)	148
Statement of Assets and Liabilities — October 31, 2018	149
Statement of Operations — October 31, 2018	150
Statement of Changes in Net Assets	151
Financial Highlights	153
Notes to Financial Statements — October 31, 2018	155
Report of Independent Registered Public Accounting Firm	165
Fund Management — October 31, 2018	166
Voting Proxies on Fund Portfolio Securities	174

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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, 2018

EXPENSE TABLES

	Beginning	Ending			Expenses
	Account	Account		Annualized	Paid
	Value	Value		Expense	During
	05/01/18	10/31/18		Ratio*	Period*
The Japanese Small Company Series
Actual Fund Return	$1,000.00	$	871.00	0.12%	$0.57
Hypothetical 5% Annual Return	$1,000.00	$	1,024.60	0.12%	$0.61
The Asia Pacific Small Company Series
Actual Fund Return	$1,000.00	$	883.60	0.12%	$0.57
Hypothetical 5% Annual Return	$1,000.00	$	1,024.60	0.12%	$0.61
The United Kingdom Small Company Series
Actual Fund Return	$1,000.00	$	870.30	0.11%	$0.52
Hypothetical 5% Annual Return	$1,000.00	$	1,024.65	0.11%	$0.56

111

	Beginning	Ending			Expenses
	Account	Account		Annualized	Paid
	Value	Value		Expense	During
	05/01/18	10/31/18		Ratio*	Period*
The Continental Small Company Series
Actual Fund Return	$1,000.00	$	862.00	0.11%	$	0.52
Hypothetical 5% Annual Return	$1,000.00	$	1,024.65	0.11%	$	0.56
The Canadian Small Company Series
Actual Fund Return	$1,000.00	$	891.70	0.11%	$	0.52
Hypothetical 5% Annual Return	$1,000.00	$	1,024.65	0.11%	$	0.56

__________________

* 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.

112

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, 2018. 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.

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.

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 used. 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

	Communication	Consumer		Consumer				Health		Information				Real
	Services	Discretionary		Staples	Energy	Financials		Care	Industrials	Technology		Materials		Estate	Utilities	Total
The Japanese Small     Company Series	3.1%		18.7%	8.0%	0.8%		8.7%	5.4%	28.8%		13.1%		10.5%	1.8%	1.1%	100.0%
The Asia Pacific Small     Company Series	8.7%		18.5%	7.2%	3.6%		11.1%	5.5%	15.2%		6.9%		13.9%	6.9%	2.5%	100.0%
The United Kingdom Small     Company Series	6.6%		20.8%	4.8%	5.0%		16.4%	3.2%	26.4%		5.7%		6.2%	2.7%	2.2%	100.0%
The Continental Small     Company Series	6.5%		9.8%	5.5%	4.5%		11.9%	7.6%	26.4%		9.6%		8.2%	6.6%	3.4%	100.0%
The Canadian Small     Company Series	2.4%		5.9%	5.4%	22.0%		9.4%	1.4%	12.3%		4.8%		25.7%	4.4%	6.3%	100.0%

113

THE JAPANESE SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2018
(Unaudited)

					Percentage
		Shares	Value»		of Net Assets‡
COMMON STOCKS — (95.9%)
COMMUNICATION SERVICES — (2.9%)
	Other Securities		$	102,862,274	3.1%
CONSUMER DISCRETIONARY — (18.2%)
	Aoyama Trading Co., Ltd.	324,200		7,775,696	0.2%
	Autobacs Seven Co., Ltd.	553,000		9,165,523	0.3%
#	DCM Holdings Co., Ltd.	795,100		8,321,102	0.3%
	Shimachu Co., Ltd.	282,300		7,621,404	0.2%
	Sushiro Global Holdings, Ltd.	135,100		7,377,632	0.2%
	Wacoal Holdings Corp.	332,900		8,615,556	0.3%
	Other Securities			588,584,472	17.4%
TOTAL CONSUMER DISCRETIONARY				637,461,385	18.9%
CONSUMER STAPLES — (7.8%)
	Morinaga Milk Industry Co., Ltd.	270,300		7,554,218	0.2%
	Nippon Suisan Kaisha, Ltd.	1,516,000		8,455,479	0.3%
#	Sapporo Holdings, Ltd.	405,000		8,409,483	0.3%
	Other Securities			248,209,537	7.3%
TOTAL CONSUMER STAPLES				272,628,717	8.1%
ENERGY — (0.8%)
	Other Securities			26,827,142	0.8%
FINANCIALS — (8.3%)
	77 Bank, Ltd. (The)	476,552		8,237,110	0.2%
	Daishi Hokuetsu Financial Group, Inc.	280,800		7,788,258	0.2%
	Hokuhoku Financial Group, Inc.	837,000		9,387,886	0.3%
#	Shiga Bank, Ltd. (The)	339,500		7,914,578	0.2%
	Other Securities			258,981,160	7.8%
TOTAL FINANCIALS				292,308,992	8.7%
HEALTH CARE — (5.0%)
	Miraca Holdings, Inc.	424,900		9,590,714	0.3%
	Mochida Pharmaceutical Co., Ltd.	95,399		7,831,526	0.2%
	Ship Healthcare Holdings, Inc.	248,800		9,199,074	0.3%
#	Toho Holdings Co., Ltd.	303,100		7,413,574	0.2%
	Other Securities			141,056,742	4.2%
TOTAL HEALTH CARE				175,091,630	5.2%
INDUSTRIALS — (27.8%)
	Hazama Ando Corp.	1,411,200		9,317,499	0.3%
#	Iwatani Corp.	273,700		9,129,794	0.3%
#*	Kawasaki Kisen Kaisha, Ltd.	659,700		8,090,395	0.2%
	Kumagai Gumi Co., Ltd.	274,200		8,239,679	0.3%
	Maeda Road Construction Co., Ltd.	401,400		8,315,784	0.3%
	Meitec Corp.	199,000		8,075,247	0.2%
#	Nichias Corp.	452,700		7,720,053	0.2%
	Nikkon Holdings Co., Ltd.	436,100		10,410,700	0.3%

114

The Japanese Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
INDUSTRIALS — (Continued)
	Nishimatsu Construction Co., Ltd.	389,300	$	8,859,535	0.3%
#	Nishi-Nippon Railroad Co., Ltd.	356,300		8,973,118	0.3%
	Nisshinbo Holdings, Inc.	1,006,480		7,595,081	0.2%
	Penta-Ocean Construction Co., Ltd.	1,519,100		8,392,969	0.3%
#	Shinmaywa Industries, Ltd.	659,800		8,047,081	0.2%
	SMS Co., Ltd.	505,400		8,001,907	0.2%
	Sumitomo Mitsui Construction Co., Ltd.	1,274,740		7,744,294	0.2%
#	Trusco Nakayama Corp.	292,600		7,714,709	0.2%
	Ushio, Inc.	806,900		8,548,636	0.3%
	Other Securities			829,612,733	24.6%
TOTAL INDUSTRIALS				972,789,214	28.9%
INFORMATION TECHNOLOGY — (12.2%)
	Amano Corp.	409,100		7,892,922	0.2%
	Ibiden Co., Ltd.	737,878		10,369,438	0.3%
	Lasertec Corp.	292,800		7,476,708	0.2%
	NET One Systems Co., Ltd.	426,000		7,514,201	0.2%
	Oki Electric Industry Co., Ltd.	644,900		7,621,078	0.2%
	Topcon Corp.	802,500		10,654,761	0.3%
	Ulvac, Inc.	291,600		8,418,471	0.3%
	Other Securities			366,733,964	11.0%
TOTAL INFORMATION TECHNOLOGY				426,681,543	12.7%
MATERIALS — (10.2%)
	ADEKA Corp.	637,000		9,208,827	0.3%
#	Dowa Holdings Co., Ltd.	362,100		10,837,935	0.3%
	Mitsui Mining & Smelting Co., Ltd.	444,900		9,186,406	0.3%
	Nippon Light Metal Holdings Co., Ltd.	4,288,500		8,700,031	0.3%
#	Sumitomo Osaka Cement Co., Ltd.	279,999		11,491,698	0.3%
	Toagosei Co., Ltd.	813,600		8,967,010	0.3%
	Toyobo Co., Ltd.	660,100		8,986,912	0.3%
	Other Securities			288,159,244	8.5%
TOTAL MATERIALS				355,538,063	10.6%
REAL ESTATE — (1.6%)
	Leopalace21 Corp.	1,918,000		7,604,642	0.2%
	Other Securities			47,041,302	1.4%
TOTAL REAL ESTATE				54,645,944	1.6%
UTILITIES — (1.1%)
	Hokkaido Electric Power Co., Inc.	1,289,300		8,908,212	0.3%
	Other Securities			29,947,411	0.8%
TOTAL UTILITIES				38,855,623	1.1%
TOTAL COMMON STOCKS				3,355,690,527	99.7%
SECURITIES LENDING COLLATERAL — (4.1%)
@§	DFA Short Term Investment Fund	12,266,234		141,920,323	4.2%
TOTAL INVESTMENTS—(100.0%)
	(Cost $3,419,774,720)^		$	3,497,610,850	103.9%

____________________

^ The cost for federal income tax purposes is $3,419,774,720

115

The Japanese Small Company Series
continued

Summary of the Series’ investments as of December 31, 2018, 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
Communication Services		—	$	102,862,274	—	$	102,862,274
Consumer Discretionary	$	2,842,069		634,619,316	—		637,461,385
Consumer Staples		—		272,628,717	—		272,628,717
Energy		—		26,827,142	—		26,827,142
Financials		7,788,258		284,520,734	—		292,308,992
Health Care		—		175,091,630	—		175,091,630
Industrials		—		972,789,214	—		972,789,214
Information Technology		311,154		426,370,389	—		426,681,543
Materials		442,333		355,095,730	—		355,538,063
Real Estate		—		54,645,944	—		54,645,944
Utilities		—		38,855,623	—		38,855,623
Securities Lending Collateral		—		141,920,323	—		141,920,323
TOTAL	$	11,383,814	$	3,486,227,036	—	$	3,497,610,850

See accompanying Notes to Financial Statements.
116

THE ASIA PACIFIC SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2018
(Unaudited)

					Percentage
		Shares	Value»		of Net Assets‡
COMMON STOCKS — (94.7%)
AUSTRALIA — (49.6%)
	Adelaide Brighton, Ltd.	2,551,686	$	7,680,883	0.5%
	ALS, Ltd.	2,175,740		10,395,568	0.7%
	Altium, Ltd.	825,787		12,639,839	0.8%
	Ansell, Ltd.	866,131		13,455,090	0.9%
	Beach Energy, Ltd.	14,326,903		13,536,211	0.9%
#	Blackmores, Ltd.	97,263		8,354,324	0.5%
	carsales.com, Ltd.	1,702,940		13,201,127	0.8%
	Cleanaway Waste Management, Ltd.	13,728,372		16,099,923	1.0%
#	Corporate Travel Management, Ltd.	545,523		8,241,858	0.5%
#	Costa Group Holdings, Ltd.	1,794,779		9,386,613	0.6%
	CSR, Ltd.	3,957,955		7,835,508	0.5%
	Downer EDI, Ltd.	3,709,343		17,669,191	1.1%
	DuluxGroup, Ltd.	2,924,888		13,516,978	0.9%
#	GrainCorp, Ltd., Class A	1,833,496		11,842,131	0.8%
	Healthscope, Ltd.	5,420,705		8,520,140	0.5%
#	Independence Group NL	3,149,458		8,473,746	0.5%
#	IOOF Holdings, Ltd.	2,254,189		8,216,023	0.5%
	IRESS, Ltd.	1,124,731		8,816,322	0.6%
#	JB Hi-Fi, Ltd.	862,756		13,459,731	0.9%
#	Link Administration Holdings, Ltd.	1,984,225		9,469,111	0.6%
#	Metcash, Ltd.	7,000,216		12,090,228	0.8%
	Mineral Resources, Ltd.	1,194,671		13,026,257	0.8%
	nib holdings, Ltd.	3,369,261		12,352,264	0.8%
#	Nine Entertainment Co. Holdings, Ltd.	11,507,092		11,196,013	0.7%
	Northern Star Resources, Ltd.	2,360,511		15,408,379	1.0%
#	Nufarm, Ltd.	1,894,118		7,951,770	0.5%
	Orora, Ltd.	6,217,453		13,459,820	0.9%
	OZ Minerals, Ltd.	2,477,965		15,363,036	1.0%
#	Pendal Group, Ltd.	1,742,357		9,793,720	0.6%
#	Perpetual, Ltd.	353,370		8,086,112	0.5%
	Premier Investments, Ltd.	805,893		8,355,975	0.5%
	Regis Resources, Ltd.	3,103,576		10,569,630	0.7%
*	Saracen Mineral Holdings, Ltd.	6,775,200		14,007,396	0.9%
	Sims Metal Management, Ltd.	1,382,214		9,770,547	0.6%
#	Spark Infrastructure Group	10,293,749		16,036,973	1.0%
	St Barbara, Ltd.	3,784,439		12,535,364	0.8%
	Steadfast Group, Ltd.	5,448,903		10,560,828	0.7%
	Other Securities			399,219,768	25.3%
TOTAL AUSTRALIA				820,594,397	52.2%
CHINA — (0.0%)
	Other Securities			373,335	0.0%

117

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
HONG KONG — (28.4%)
	Dah Sing Financial Holdings, Ltd.	1,718,944	$	8,498,599	0.6%
	HKBN, Ltd.	6,646,500		10,076,370	0.7%
	Hopewell Holdings, Ltd.	3,604,500		15,850,638	1.0%
	IGG, Inc.	12,433,000		17,050,063	1.1%
	Luk Fook Holdings International, Ltd.	3,952,000		11,277,930	0.7%
	NagaCorp., Ltd.	7,786,000		8,365,301	0.5%
	Vitasoy International Holdings, Ltd.	4,237,000		16,128,872	1.0%
	VTech Holdings, Ltd.	1,316,500		10,919,480	0.7%
	Other Securities			370,622,068	23.6%
TOTAL HONG KONG				468,789,321	29.9%
NEW ZEALAND — (6.5%)
#	Chorus, Ltd.	2,889,679		9,415,906	0.6%
	Infratil, Ltd.	3,986,378		9,773,256	0.6%
	Mainfreight, Ltd.	496,362		10,267,151	0.7%
	SKYCITY Entertainment Group, Ltd.	4,672,171		11,143,703	0.7%
#	Trade Me Group, Ltd.	2,239,106		9,545,427	0.6%
	Other Securities			57,887,206	3.7%
TOTAL NEW ZEALAND				108,032,649	6.9%
SINGAPORE — (10.2%)
	Other Securities			168,002,522	10.7%
TOTAL COMMON STOCKS				1,565,792,224	99.7%
TOTAL INVESTMENT SECURITIES				1,565,792,224
			Value†
SECURITIES LENDING COLLATERAL — (5.3%)
@§	DFA Short Term Investment Fund	7,500,432		86,779,998	5.5%
TOTAL INVESTMENTS—(100.0%)
	(Cost $1,787,666,868)		$	1,652,572,222	105.2%

____________________

^         The cost for federal income tax purposes is $1,787,666,868.

118

The Asia Pacific Small Company Series
continued

Summary of the Series’ investments as of December 31, 2018, 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	$	9,107,401	$	811,486,996	—	$	820,594,397
China		—		373,335	—		373,335
Hong Kong		324,281		468,465,040	—		468,789,321
New Zealand		1,327,289		106,705,360	—		108,032,649
Singapore		311,101		167,691,421	—		168,002,522
Securities Lending Collateral		—		86,779,998	—		86,779,998
TOTAL	$	11,070,072	$	1,641,502,150	—	$	1,652,572,222

See accompanying Notes to Financial Statements.
119

THE UNITED KINGDOM SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2018
(Unaudited)

					Percentage
		Shares	Value»		of Net Assets‡
COMMON STOCKS — (98.8%)
COMMUNICATION SERVICES — (6.3%)
	Auto Trader Group P.L.C.	6,021,823	$	34,946,982	1.7%
	Cineworld Group P.L.C.	6,338,930		21,283,489	1.1%
	Other Securities			70,282,412	3.5%
TOTAL COMMUNICATION SERVICES				126,512,883	6.3%
CONSUMER DISCRETIONARY — (20.3%)
	B&M European Value Retail SA	5,453,422		19,570,268	1.0%
	Bellway P.L.C.	837,951		26,885,230	1.3%
	Greene King P.L.C.	2,728,082		18,364,784	0.9%
	Inchcape P.L.C.	2,855,866		20,096,093	1.0%
	Merlin Entertainments P.L.C.	4,388,737		17,776,880	0.9%
	Moneysupermarket.com Group P.L.C.	3,778,946		13,267,768	0.7%
*	Ocado Group P.L.C.	2,545,342		25,655,974	1.3%
	SSP Group P.L.C.	2,926,475		24,157,648	1.2%
	WH Smith P.L.C.	688,546		15,104,326	0.8%
	Other Securities			228,646,500	11.3%
TOTAL CONSUMER DISCRETIONARY				409,525,471	20.4%
CONSUMER STAPLES — (5.1%)
	Britvic P.L.C.	1,645,596		16,760,081	0.8%
	Tate & Lyle P.L.C.	3,470,820		29,205,958	1.5%
	Other Securities			56,130,276	2.8%
TOTAL CONSUMER STAPLES				102,096,315	5.1%
ENERGY — (4.0%)
	John Wood Group P.L.C.	2,672,479		17,194,599	0.9%
*	Tullow Oil P.L.C.	9,095,426		20,678,391	1.0%
	Other Securities			43,917,186	2.2%
TOTAL ENERGY				81,790,176	4.1%
FINANCIALS — (15.6%)
	Beazley P.L.C.	3,291,683		21,155,365	1.1%
	Close Brothers Group P.L.C.	981,822		18,018,466	0.9%
	CYBG P.L.C.	6,092,424		14,062,941	0.7%
	Hiscox, Ltd.	1,486,194		30,717,402	1.5%
	IG Group Holdings P.L.C.	2,273,115		16,526,055	0.8%
	Intermediate Capital Group P.L.C.	1,883,247		22,463,765	1.1%
	Jardine Lloyd Thompson Group P.L.C.	809,362		19,525,956	1.0%
	Man Group P.L.C.	10,998,653		18,635,060	0.9%
#	Phoenix Group Holdings PLC	3,125,763		22,446,401	1.1%
	Other Securities			131,595,477	6.6%
TOTAL FINANCIALS				315,146,888	15.7%
HEALTH CARE — (3.6%)
*	BTG P.L.C.	2,027,017		21,494,973	1.1%
	Hikma Pharmaceuticals P.L.C.	709,610		15,517,765	0.8%
	Other Securities			35,914,879	1.7%
TOTAL HEALTH CARE				72,927,617	3.6%

120

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
INDUSTRIALS — (26.6%)
	Aggreko P.L.C.	1,594,243	$	14,864,662	0.7%
	Babcock International Group P.L.C.	2,639,298		16,462,033	0.8%
	Balfour Beatty P.L.C.	4,294,967		13,643,440	0.7%
	BBA Aviation P.L.C.	7,186,917		19,978,092	1.0%
*	Cobham P.L.C.	14,717,466		18,349,842	0.9%
	G4S P.L.C.	6,000,808		15,147,933	0.8%
	Hays P.L.C.	9,878,691		17,635,080	0.9%
	HomeServe P.L.C.	1,815,774		20,056,842	1.0%
	Howden Joinery Group P.L.C.	4,476,142		24,835,884	1.2%
	IMI P.L.C.	1,725,634		20,781,150	1.0%
	Meggitt P.L.C.	5,024,937		30,184,957	1.5%
	National Express Group P.L.C.	2,749,825		13,115,830	0.7%
	Pagegroup P.L.C.	2,344,376		13,467,116	0.7%
	QinetiQ Group P.L.C.	3,775,440		13,787,815	0.7%
	Rotork P.L.C.	5,577,131		17,610,757	0.9%
	Travis Perkins P.L.C.	1,631,098		22,237,039	1.1%
	Other Securities			245,365,418	12.2%
TOTAL INDUSTRIALS				537,523,890	26.8%
INFORMATION TECHNOLOGY — (5.8%)
	Electrocomponents P.L.C.	3,231,445		20,873,093	1.0%
	Spectris P.L.C.	741,210		21,540,215	1.1%
	Other Securities			74,460,761	3.7%
TOTAL INFORMATION TECHNOLOGY				116,874,069	5.8%
MATERIALS — (6.3%)
	RPC Group P.L.C.	2,589,442		21,526,894	1.1%
	Victrex P.L.C.	625,988		18,267,382	0.9%
	Other Securities			88,352,555	4.4%
TOTAL MATERIALS				128,146,831	6.4%
REAL ESTATE — (3.0%)
	Capital & Counties Properties P.L.C.	4,647,622		13,695,237	0.7%
	St. Modwen Properties P.L.C.	2,832,022		14,323,622	0.7%
	Other Securities			33,040,671	1.7%
TOTAL REAL ESTATE				61,059,530	3.1%
UTILITIES — (2.2%)
	Drax Group P.L.C.	2,899,857		13,266,598	0.7%
	Pennon Group P.L.C.	2,706,632		23,926,505	1.2%
	Other Securities			7,068,089	0.3%
TOTAL UTILITIES				44,261,192	2.2%
TOTAL COMMON STOCKS				1,995,864,862	99.5%
SECURITIES LENDING COLLATERAL — (1.2%)
@§	DFA Short Term Investment Fund	2,033,025		23,522,102	1.2%
TOTAL INVESTMENTS—(100.0%)
	(Cost $2,167,988,461)^		$	2,019,386,964	100.7%

____________________

^ The cost for federal income tax purposes is $2,167,988,461.

121

The United Kingdom Small Company Series
continued

Summary of the Series’ investments as of December 31, 2018, 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
Communication Services		—	$	126,512,883	—	$	126,512,883
Consumer Discretionary		—		409,525,471	—		409,525,471
Consumer Staples		—		102,096,315	—		102,096,315
Energy		—		81,790,176	—		81,790,176
Financials	$	22,446,401		292,700,487	—		315,146,888
Health Care		—		72,927,617	—		72,927,617
Industrials		—		537,523,890	—		537,523,890
Information Technology		—		116,874,069	—		116,874,069
Materials		—		128,146,831	—		128,146,831
Real Estate		—		61,059,530	—		61,059,530
Utilities		—		44,261,192	—		44,261,192
Securities Lending Collateral		—		23,522,102	—		23,522,102
TOTAL	$	22,446,401	$	1,996,940,563	—	$	2,019,386,964

See accompanying Notes to Financial Statements.
122

THE CONTINENTAL SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2018
(Unaudited)

					Percentage
		Shares	Value»		of Net Assets‡
COMMON STOCKS — (90.8%)
AUSTRIA — (2.9%)
	ANDRITZ AG	464,967	$	21,354,102	0.4%
	Other Securities			132,610,651	2.7%
TOTAL AUSTRIA				153,964,753	3.1%
BELGIUM — (3.8%)
	Ackermans & van Haaren NV	157,771		23,819,893	0.5%
*	Galapagos NV	220,186		20,182,473	0.4%
	Other Securities			160,637,403	3.3%
TOTAL BELGIUM				204,639,769	4.2%
DENMARK — (5.4%)
#	Ambu A.S., Class B	1,079,783		26,084,773	0.5%
	GN Store Nord A.S.	935,887		35,066,735	0.7%
	Jyske Bank A.S.	491,188		17,783,315	0.4%
	Royal Unibrew A.S.	364,385		25,176,458	0.5%
	SimCorp A.S.	277,672		19,043,089	0.4%
	Topdanmark A.S.	475,380		22,185,519	0.5%
	Other Securities			142,622,619	2.9%
TOTAL DENMARK				287,962,508	5.9%
FINLAND — (6.3%)
	Amer Sports Oyj	843,708		37,091,886	0.8%
#	Huhtamaki Oyj	682,848		21,129,677	0.4%
	Kesko Oyj, Class B	514,318		27,756,987	0.6%
	Metso Oyj	754,361		19,818,760	0.4%
	Nokian Renkaat Oyj	833,611		25,603,254	0.5%
#	Orion Oyj, Class B	629,163		21,887,898	0.4%
#	Valmet Oyj	919,512		18,939,164	0.4%
	Other Securities			166,969,690	3.4%
TOTAL FINLAND				339,197,316	6.9%
FRANCE — (11.4%)
	Edenred	734,903		27,065,702	0.6%
	Euronext NV	353,390		20,361,445	0.4%
#	Eutelsat Communications SA	1,163,207		22,916,515	0.5%
	Ingenico Group SA	401,944		22,801,239	0.5%
	Lagardere SCA	778,374		19,642,529	0.4%
	Rexel SA	2,195,555		23,387,256	0.5%
	Rubis SCA	600,060		32,267,483	0.7%
	Societe BIC SA	172,540		17,625,757	0.4%
	Teleperformance	144,931		23,184,567	0.5%
	Other Securities			399,849,494	7.9%
TOTAL FRANCE				609,101,987	12.4%

123

The Continental Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
GERMANY — (14.8%)
	Freenet AG	967,714	$	18,825,799	0.4%
#	Hugo Boss AG	458,718		28,277,335	0.6%
	K+S AG	1,437,309		25,991,991	0.5%
	Lanxess AG	426,436		19,605,998	0.4%
	LEG Immobilien AG	306,420		31,968,712	0.7%
	OSRAM Licht AG	410,897		17,881,645	0.4%
	ProSiebenSat.1 Media SE	1,021,498		18,176,092	0.4%
	Rheinmetall AG	307,905		27,304,639	0.6%
	TAG Immobilien AG	934,395		21,282,519	0.4%
	Other Securities			583,953,634	11.8%
TOTAL GERMANY				793,268,364	16.2%
IRELAND — (0.8%)
	Other Securities			43,811,945	0.9%
ISRAEL — (2.6%)
	Other Securities			139,178,565	2.8%
ITALY — (9.4%)
	A2A SpA	11,245,170		20,280,373	0.4%
#*	Banco BPM SpA	9,985,963		22,465,811	0.5%
	Italgas SpA	3,454,994		19,812,750	0.4%
#	Unione di Banche Italiane SpA	7,724,232		22,420,859	0.5%
	Other Securities			420,125,311	8.5%
TOTAL ITALY				505,105,104	10.3%
NETHERLANDS — (6.0%)
	Aalberts Industries NV	686,058		22,817,190	0.5%
*	Gemalto NV	306,999		17,824,091	0.4%
	IMCD NV	305,526		19,557,812	0.4%
	Koninklijke Vopak NV	392,125		17,782,212	0.4%
	SBM Offshore NV	1,293,584		19,113,267	0.4%
	Other Securities			223,531,122	4.4%
TOTAL NETHERLANDS				320,625,694	6.5%
NORWAY — (2.2%)
	Other Securities			117,993,836	2.4%
PORTUGAL — (1.2%)
	Other Securities			62,307,088	1.3%
SPAIN — (5.9%)
	Acciona SA	206,462		17,463,562	0.4%
#	Cellnex Telecom SA	1,049,614		26,842,278	0.6%
	Enagas SA	920,497		24,882,897	0.5%
	Other Securities			248,388,622	5.0%
TOTAL SPAIN				317,577,359	6.5%

124

The Continental Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
SWEDEN — (7.4%)
	Other Securities		$	396,212,081	8.1%
SWITZERLAND — (10.7%)
	Georg Fischer AG	28,198		22,622,681	0.5%
	Helvetia Holding AG	49,892		29,177,423	0.6%
	PSP Swiss Property AG	293,367		28,931,559	0.6%
	Sunrise Communications Group AG	247,924		21,828,022	0.4%
	Other Securities			472,270,469	9.6%
TOTAL SWITZERLAND				574,830,154	11.7%
UNITED KINGDOM — (0.0%)
	Other Security			2,940,666	0.0%
TOTAL COMMON STOCKS				4,868,717,189	99.2%
PREFERRED STOCKS — (0.4%)
GERMANY — (0.4%)
	Other Securities			22,756,993	0.5%
RIGHTS/WARRANTS — (0.0%)
	Other Securities			218,954	0.0%
TOTAL INVESTMENT SECURITIES				4,891,693,136
			Value†
SECURITIES LENDING COLLATERAL — (8.8%)
@§	DFA Short Term Investment Fund	40,572,937		469,428,884	9.6%
TOTAL INVESTMENTS—(100.0%)
	(Cost $5,245,107,736)		$	5,361,122,020	109.3%

____________________

^        The cost for federal income tax purposes is $5,245,107,736.

125

The Continental Small Company Series
continued

Summary of the Series’ investments as of December 31, 2018, 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		—	$	153,964,753	—	$	153,964,753
	Belgium	$	8,595,401		196,044,368	—		204,639,769
	Denmark		—		287,962,508	—		287,962,508
	Finland		—		339,197,316	—		339,197,316
	France		139,219		608,962,768	—		609,101,987
	Germany		—		793,268,364	—		793,268,364
	Ireland		—		43,811,945	—		43,811,945
	Israel		1,006,402		138,172,163	—		139,178,565
	Italy		—		505,105,104	—		505,105,104
	Netherlands		13,442,626		307,183,068	—		320,625,694
	Norway		1,710,702		116,283,134	—		117,993,836
	Portugal		—		62,307,088	—		62,307,088
	Spain		1,688,617		315,888,742	—		317,577,359
	Sweden		5,743,592		390,468,489	—		396,212,081
	Switzerland		—		574,830,154	—		574,830,154
	United Kingdom		—		2,940,666	—		2,940,666
Preferred Stocks
	Germany		—		22,756,993	—		22,756,993
Rights/Warrants
	Norway		—		1,197	—		1,197
	Spain		—		217,757	—		217,757
Securities Lending Collateral			—		469,428,884	—		469,428,884
TOTAL		$	32,326,559	$	5,328,795,461	—	$	5,361,122,020

See accompanying Notes to Financial Statements.
126

THE CANADIAN SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

December 31, 2018
(Unaudited)

					Percentage
		Shares	Value»		of Net Assets‡
COMMON STOCKS — (85.1%)
COMMUNICATION SERVICES — (1.8%)
	Other Securities		$	20,254,068	2.1%
CONSUMER DISCRETIONARY — (5.3%)
*	Great Canadian Gaming Corp.	400,319		14,036,969	1.4%
#	Linamar Corp.	298,467		9,903,718	1.0%
	Other Securities			36,253,000	3.8%
TOTAL CONSUMER DISCRETIONARY				60,193,687	6.2%
CONSUMER STAPLES — (4.7%)
	Cott Corp.	847,770		11,804,943	1.2%
	Maple Leaf Foods, Inc.	448,812		8,984,788	0.9%
	North West Co., Inc. (The)	349,536		8,044,551	0.8%
#	Premium Brands Holdings Corp.	168,412		9,234,780	1.0%
	Other Securities			15,310,777	1.6%
TOTAL CONSUMER STAPLES				53,379,839	5.5%
ENERGY — (16.2%)
	Enerflex, Ltd.	595,858		6,974,664	0.7%
#	Enerplus Corp.	1,361,560		10,591,684	1.1%
	Gibson Energy, Inc.	538,501		7,368,297	0.8%
*	MEG Energy Corp.	1,549,736		8,752,172	0.9%
*	Parex Resources, Inc.	892,021		10,683,082	1.1%
#	Parkland Fuel Corp.	503,325		13,029,231	1.3%
#	Whitecap Resources, Inc.	2,833,976		9,030,029	0.9%
	Other Securities			119,182,532	12.2%
TOTAL ENERGY				185,611,691	19.0%
FINANCIALS — (8.2%)
#	Canadian Western Bank	625,580		11,932,393	1.2%
#	Element Fleet Management Corp.	2,196,243		11,116,349	1.1%
#	Genworth MI Canada, Inc.	297,480		8,759,666	0.9%
#	Laurentian Bank of Canada	300,158		8,370,213	0.9%
#	TMX Group, Ltd.	146,414		7,585,601	0.8%
	Other Securities			45,799,170	4.7%
TOTAL FINANCIALS				93,563,392	9.6%
HEALTH CARE — (1.3%)
	Other Securities			15,111,031	1.5%
INDUSTRIALS — (9.3%)
#	NFI Group, Inc.	277,920		6,929,678	0.7%
#	Stantec, Inc.	648,533		14,208,630	1.5%
	TFI International, Inc.	511,889		13,235,923	1.4%
	Transcontinental, Inc., Class A	511,776		7,235,040	0.7%
	Other Securities			65,074,498	6.6%
TOTAL INDUSTRIALS				106,683,769	10.9%

127

The Canadian Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
INFORMATION TECHNOLOGY — (3.3%)
*	Celestica, Inc.	782,756	$	6,857,429	0.7%
*	Descartes Systems Group, Inc. (The)	379,409		10,013,263	1.0%
	Other Securities			20,949,577	2.2%
TOTAL INFORMATION TECHNOLOGY				37,820,269	3.9%
MATERIALS — (25.6%)
	Alamos Gold, Inc., Class A	2,711,904		9,753,477	1.0%
*	B2Gold Corp.	6,070,919		17,743,164	1.8%
*	Detour Gold Corp.	1,187,179		10,026,497	1.0%
#*	Endeavour Mining Corp.	428,220		7,007,345	0.7%
#*	First Majestic Silver Corp.	1,207,831		7,095,522	0.7%
	Hudbay Minerals, Inc.	1,808,840		8,559,263	0.9%
*	IAMGOLD Corp.	3,117,078		11,439,028	1.2%
#	Labrador Iron Ore Royalty Corp.	377,156		6,696,646	0.7%
	Nevsun Resources, Ltd.	2,058,709		9,032,865	0.9%
#	Norbord, Inc.	246,461		6,553,279	0.7%
#	OceanaGold Corp.	4,076,528		14,870,429	1.5%
	Osisko Gold Royalties, Ltd.	811,994		7,119,515	0.7%
	Pan American Silver Corp.	1,084,515		15,832,394	1.6%
#*	Pretium Resources, Inc.	765,537		6,487,887	0.7%
*	SSR Mining, Inc.	826,105		9,984,422	1.0%
#	Stella-Jones, Inc.	285,606		8,286,591	0.8%
#*	Tahoe Resources, Inc.	1,876,416		6,831,078	0.7%
	Yamana Gold, Inc.	6,616,550		15,557,519	1.6%
	Other Securities			113,508,081	11.7%
TOTAL MATERIALS				292,385,002	29.9%
REAL ESTATE — (3.9%)
	Colliers International Group, Inc.	211,166		11,645,684	1.2%
	FirstService Corp.	200,280		13,744,677	1.4%
#	Tricon Capital Group, Inc.	904,232		6,418,113	0.7%
	Other Securities			12,500,860	1.2%
TOTAL REAL ESTATE				44,309,334	4.5%
UTILITIES — (5.5%)
	Capital Power Corp.	692,120		13,480,421	1.4%
	Northland Power, Inc.	642,605		10,214,275	1.0%
	Superior Plus Corp.	1,074,553		7,619,157	0.8%
	TransAlta Corp.	1,877,409		7,687,310	0.8%
#	TransAlta Renewables, Inc.	848,516		6,445,291	0.7%
	Other Securities			17,626,230	1.8%
TOTAL UTILITIES				63,072,684	6.5%
TOTAL COMMON STOCKS				972,384,766	99.6%
RIGHTS/WARRANTS — (0.0%)
	Other Security			2,911	0.0%
TOTAL INVESTMENT SECURITIES				972,387,677
SECURITIES LENDING COLLATERAL — (14.9%)
@§	DFA Short Term Investment Fund	14,706,904		170,158,875	17.4%
TOTAL INVESTMENTS—(100.0%)
	(Cost $1,501,104,337)^		$	1,142,546,552	117.0%

____________________

^        The cost for federal income tax purposes is $1,501,104,337.

128

The Canadian Small Company Series
continued

Summary of the Series’ investments as of December 31, 2018, 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
Communication Services	$	20,254,068		—	—	$	20,254,068
Consumer Discretionary		60,187,052	$	6,635	—		60,193,687
Consumer Staples		53,379,839		—	—		53,379,839
Energy		185,611,691		—	—		185,611,691
Financials		93,525,880		37,512	—		93,563,392
Health Care		15,111,031		—	—		15,111,031
Industrials		106,683,769		—	—		106,683,769
Information Technology		37,820,269		—	—		37,820,269
Materials		292,384,682		320	—		292,385,002
Real Estate		44,309,334		—	—		44,309,334
Utilities		63,072,684		—	—		63,072,684
Rights/Warrants
Energy		—		2,911	—		2,911
Securities Lending Collateral		—		170,158,875	—		170,158,875
TOTAL	$	972,340,299	$	170,206,253	—	$	1,142,546,552

See accompanying Notes to Financial Statements.
129

THE JAPANESE SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2018

					Percentage
		Shares	Value»		of Net Assets‡
COMMON STOCKS — (94.6%)
COMMUNICATION SERVICES — (2.9%)
	Other Securities		$	116,578,489	3.0%
CONSUMER DISCRETIONARY — (17.7%)
	Aoyama Trading Co., Ltd.	324,200		9,808,171	0.3%
	Autobacs Seven Co., Ltd.	530,000		8,529,901	0.2%
#	Colowide Co., Ltd.	350,600		8,536,631	0.2%
	Wacoal Holdings Corp.	364,700		10,055,102	0.3%
	Other Securities			676,136,370	17.6%
TOTAL CONSUMER DISCRETIONARY				713,066,175	18.6%
CONSUMER STAPLES — (7.6%)
	Maruha Nichiro Corp.	274,907		9,952,175	0.3%
	Megmilk Snow Brand Co., Ltd.	358,200		8,379,194	0.2%
	Nippon Suisan Kaisha, Ltd.	2,140,300		13,671,543	0.4%
	Sapporo Holdings, Ltd.	472,400		8,763,286	0.2%
	Other Securities			262,996,152	6.8%
TOTAL CONSUMER STAPLES				303,762,350	7.9%
ENERGY — (0.8%)
	Other Securities			29,926,156	0.8%
FINANCIALS — (8.2%)
	77 Bank, Ltd. (The)	496,152		10,248,303	0.3%
	Daishi Hokuetsu Financial Group, Inc.	280,800		10,103,674	0.3%
	Hokuhoku Financial Group, Inc.	837,000		10,369,291	0.3%
	Jafco Co., Ltd.	233,300		8,989,108	0.2%
	Other Securities			291,759,588	7.6%
TOTAL FINANCIALS				331,469,964	8.7%
HEALTH CARE — (5.1%)
	Mani, Inc.	182,700		8,395,754	0.2%
	Miraca Holdings, Inc.	413,600		10,068,684	0.3%
	Nipro Corp.	667,500		8,500,090	0.2%
	Ship Healthcare Holdings, Inc.	292,000		10,557,506	0.3%
#	Toho Holdings Co., Ltd.	367,200		9,619,560	0.3%
	Other Securities			157,559,266	4.0%
TOTAL HEALTH CARE				204,700,860	5.3%
INDUSTRIALS — (27.2%)
	GS Yuasa Corp.	417,599		8,572,136	0.2%
	Hanwa Co., Ltd.	255,300		8,360,820	0.2%
	Hazama Ando Corp.	1,328,800		9,175,851	0.2%
#	Iwatani Corp.	264,600		9,346,753	0.3%
#*	Kawasaki Kisen Kaisha, Ltd.	640,100		8,529,652	0.2%
	Kokuyo Co., Ltd.	558,125		8,810,923	0.2%
	Maeda Road Construction Co., Ltd.	460,200		8,382,048	0.2%
*	Mitsui E&S Holdings Co., Ltd.	563,200		9,457,332	0.3%
	Nichias Corp.	440,500		9,598,574	0.3%
	Nikkon Holdings Co., Ltd.	436,100		10,538,138	0.3%
	Nishimatsu Construction Co., Ltd.	392,400		9,147,000	0.2%

130

The Japanese Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
INDUSTRIALS — (Continued)
#	Nishi-Nippon Railroad Co., Ltd.	407,700	$	10,087,015	0.3%
	Nisshinbo Holdings, Inc.	1,109,780		12,217,161	0.3%
	OKUMA Corp.	178,900		8,932,577	0.2%
	OSG Corp.	421,100		8,689,012	0.2%
	Penta-Ocean Construction Co., Ltd.	2,073,400		12,404,450	0.3%
	SMS Co., Ltd.	490,700		8,230,204	0.2%
#	Trusco Nakayama Corp.	335,300		8,460,218	0.2%
	Ushio, Inc.	787,200		9,497,959	0.3%
	Other Securities			916,424,147	24.0%
TOTAL INDUSTRIALS				1,094,861,970	28.6%
INFORMATION TECHNOLOGY — (12.4%)
	Amano Corp.	438,200		9,317,651	0.3%
	Ibiden Co., Ltd.	810,078		10,002,971	0.3%
	NET One Systems Co., Ltd.	545,000		11,410,271	0.3%
	Oki Electric Industry Co., Ltd.	627,500		8,588,853	0.2%
	Topcon Corp.	773,000		11,231,567	0.3%
	Ulvac, Inc.	284,500		9,265,412	0.3%
	Other Securities			437,303,933	11.3%
TOTAL INFORMATION TECHNOLOGY				497,120,658	13.0%
MATERIALS — (9.9%)
	ADEKA Corp.	624,400		9,250,940	0.2%
	Dowa Holdings Co., Ltd.	373,500		10,870,056	0.3%
	Mitsui Mining & Smelting Co., Ltd.	433,400		12,279,380	0.3%
	Nippon Light Metal Holdings Co., Ltd.	4,216,200		8,890,260	0.2%
#	Nippon Paper Industries Co., Ltd.	587,400		10,642,418	0.3%
#	Sumitomo Osaka Cement Co., Ltd.	275,499		10,235,593	0.3%
	Toyobo Co., Ltd.	633,400		9,002,787	0.2%
	Other Securities			328,680,752	8.6%
TOTAL MATERIALS				399,852,186	10.4%
REAL ESTATE — (1.7%)
	Other Securities			68,635,236	1.8%
UTILITIES — (1.1%)
*	Hokuriku Electric Power Co.	935,100		8,711,001	0.2%
	Other Securities			33,988,686	0.9%
TOTAL UTILITIES				42,699,687	1.1%
TOTAL COMMON STOCKS				3,802,673,731	99.2%
RIGHTS/WARRANTS — (0.0%)
	Other Security			75,349	0.0%
TOTAL INVESTMENT SECURITIES				3,802,749,080
SECURITIES LENDING COLLATERAL — (5.4%)
@§	DFA Short Term Investment Fund	18,866,285		218,282,913	5.7%
TOTAL INVESTMENTS—(100.0%) (Cost $3,609,227,762)			$	4,021,031,993	104.9%

131

The Japanese Small Company Series
continued

Summary of the Series’ investments as of October 31, 2018, 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
Communication Services	$	—	$	116,578,489	—	$	116,578,489
Consumer Discretionary		6,321,241		706,744,934	—		713,066,175
Consumer Staples		—		303,762,350	—		303,762,350
Energy		—		29,926,156	—		29,926,156
Financials		10,103,674		321,366,290	—		331,469,964
Health Care		—		204,700,860	—		204,700,860
Industrials		—		1,094,861,970	—		1,094,861,970
Information Technology		486,572		496,634,086	—		497,120,658
Materials		507,983		399,344,203	—		399,852,186
Real Estate		—		68,635,236	—		68,635,236
Utilities		—		42,699,687	—		42,699,687
Rights/Warrants
Financials		—		75,349	—		75,349
Securities Lending Collateral		—		218,282,913	—		218,282,913
TOTAL	$	17,419,470	$	4,003,612,523	—	$	4,021,031,993

See accompanying Notes to Financial Statements.
132

THE ASIA PACIFIC SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2018

					Percentage
		Shares	Value»		of Net Assets‡
COMMON STOCKS — (94.4%)
AUSTRALIA — (52.6%)
	Adelaide Brighton, Ltd.	3,004,912	$	12,086,193	0.7%
	ALS, Ltd.	2,494,939		14,468,701	0.8%
	Altium, Ltd.	879,028		13,703,502	0.8%
	Ansell, Ltd.	896,383		14,778,046	0.9%
	Atlas Arteria, Ltd.	2,965,825		14,366,965	0.8%
#	Bapcor, Ltd.	1,945,254		9,436,542	0.6%
	Beach Energy, Ltd.	14,720,311		18,335,566	1.1%
#	Blackmores, Ltd.	100,980		8,707,549	0.5%
	carsales.com, Ltd.	1,702,940		14,760,322	0.9%
	Cleanaway Waste Management, Ltd.	13,728,372		17,549,486	1.0%
	Costa Group Holdings, Ltd.	2,167,448		9,391,202	0.5%
	CSR, Ltd.	3,957,955		9,928,634	0.6%
	Downer EDI, Ltd.	4,034,426		19,862,919	1.2%
	DuluxGroup, Ltd.	3,101,823		16,304,563	0.9%
	Fairfax Media, Ltd.	19,821,806		9,020,829	0.5%
	GrainCorp, Ltd., Class A	1,735,655		10,146,181	0.6%
	GUD Holdings, Ltd.	992,918		8,705,318	0.5%
#	Independence Group NL	3,149,458		9,040,777	0.5%
#	IOOF Holdings, Ltd.	2,401,762		11,616,624	0.7%
#	IRESS, Ltd.	1,180,608		9,095,282	0.5%
#	JB Hi-Fi, Ltd.	963,999		15,708,593	0.9%
	Link Administration Holdings, Ltd.	2,679,433		14,278,991	0.8%
#	Metcash, Ltd.	7,046,948		13,772,950	0.8%
	Mineral Resources, Ltd.	1,216,344		12,342,112	0.7%
	nib holdings, Ltd.	3,342,132		13,155,941	0.8%
	Northern Star Resources, Ltd.	3,310,960		20,684,301	1.2%
	Orora, Ltd.	8,074,313		19,242,479	1.1%
	OZ Minerals, Ltd.	2,477,965		15,896,021	0.9%
	Pendal Group, Ltd.	1,659,644		9,596,011	0.6%
#	Perpetual, Ltd.	374,045		9,200,195	0.5%
	Premier Investments, Ltd.	778,124		9,071,992	0.5%
	Regis Resources, Ltd.	3,602,454		10,806,393	0.6%
*	Saracen Mineral Holdings, Ltd.	7,310,283		12,750,641	0.7%
	Sims Metal Management, Ltd.	1,382,214		11,083,430	0.6%
	Spark Infrastructure Group	11,690,859		19,060,125	1.1%
	St Barbara, Ltd.	4,256,889		12,566,295	0.7%
	Steadfast Group, Ltd.	5,573,447		11,752,512	0.7%
	WorleyParsons, Ltd.	1,206,057		12,474,529	0.7%
	Other Securities			463,227,619	26.9%
TOTAL AUSTRALIA				957,976,331	55.4%

133

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
HONG KONG — (26.1%)
	Dah Sing Financial Holdings, Ltd.	1,691,344	$	9,079,052	0.5%
	HKBN, Ltd.	6,627,000		9,948,969	0.6%
	Hopewell Holdings, Ltd.	3,604,500		11,137,195	0.7%
	IGG, Inc.	12,806,000		13,575,737	0.8%
	Luk Fook Holdings International, Ltd.	3,976,000		13,119,437	0.8%
	Vitasoy International Holdings, Ltd.	5,049,000		16,095,738	0.9%
	VTech Holdings, Ltd.	1,282,800		15,070,877	0.9%
	Other Securities			387,552,662	22.3%
TOTAL HONG KONG				475,579,667	27.5%
NEW ZEALAND — (5.6%)
#	Chorus, Ltd.	2,823,444		8,760,943	0.5%
	Mainfreight, Ltd.	511,030		9,485,688	0.5%
	SKYCITY Entertainment Group, Ltd.	4,690,050		11,745,722	0.7%
	Other Securities			72,378,490	4.2%
TOTAL NEW ZEALAND				102,370,843	5.9%
SINGAPORE — (10.1%)
	Singapore Post, Ltd.	11,582,300		8,719,649	0.5%
	Other Securities			175,063,588	10.1%
TOTAL SINGAPORE				183,783,237	10.6%
TOTAL COMMON STOCKS				1,719,710,078	99.4%
TOTAL INVESTMENT SECURITIES				1,719,710,078
			Value†
SECURITIES LENDING COLLATERAL — (5.6%)
@§	DFA Short Term Investment Fund	8,839,135		102,268,796	5.9%
TOTAL INVESTMENTS—(100.0%) (Cost $1,916,994,035)			$	1,821,978,874	105.3%

134

The Asia Pacific Small Company Series
continued

Summary of the Series’ investments as of October 31, 2018, 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		—	$	957,976,331	—	$	957,976,331
Hong Kong	$	536,014		475,043,653	—		475,579,667
New Zealand		1,363,964		101,006,879	—		102,370,843
Singapore		370,655		183,412,582	—		183,783,237
Securities Lending Collateral		—		102,268,796	—		102,268,796
TOTAL	$	2,270,633	$	1,819,708,241	—	$	1,821,978,874

See accompanying Notes to Financial Statements.
135

THE UNITED KINGDOM SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2018

					Percentage
		Shares	Value»		of Net Assets‡
COMMON STOCKS — (98.8%)
COMMUNICATION SERVICES — (6.5%)
	Auto Trader Group P.L.C.	6,021,823	$	31,466,198	1.4%
	Cineworld Group P.L.C.	6,322,429		23,767,460	1.1%
	Daily Mail & General Trust P.L.C., Class A	1,699,883		15,176,710	0.7%
	Other Securities			72,380,139	3.3%
TOTAL COMMUNICATION SERVICES				142,790,507	6.5%
CONSUMER DISCRETIONARY — (20.6%)
	B&M European Value Retail SA	5,329,350		28,358,811	1.3%
	Bellway P.L.C.	839,178		30,779,041	1.4%
	Bovis Homes Group P.L.C.	1,135,408		14,033,598	0.6%
	Greene King P.L.C.	2,728,082		16,789,690	0.8%
	Inchcape P.L.C.	2,896,356		20,004,211	0.9%
	Merlin Entertainments P.L.C.	4,338,517		17,917,207	0.8%
*	Ocado Group P.L.C.	2,765,277		30,182,185	1.4%
	SSP Group P.L.C.	2,882,681		24,577,258	1.1%
	WH Smith P.L.C.	697,855		17,346,819	0.8%
	William Hill P.L.C.	5,838,359		15,694,600	0.7%
	Other Securities			237,856,061	10.9%
TOTAL CONSUMER DISCRETIONARY				453,539,481	20.7%
CONSUMER STAPLES — (4.7%)
	Britvic P.L.C.	1,623,694		16,392,263	0.7%
	Tate & Lyle P.L.C.	3,470,820		29,842,389	1.4%
	Other Securities			57,601,564	2.6%
TOTAL CONSUMER STAPLES				103,836,216	4.7%
ENERGY — (5.0%)
	John Wood Group P.L.C.	2,672,479		24,357,624	1.1%
*	Tullow Oil P.L.C.	9,184,155		26,349,926	1.2%
	Other Securities			58,439,497	2.7%
TOTAL ENERGY				109,147,047	5.0%
FINANCIALS — (16.2%)
	Beazley P.L.C.	3,286,678		22,067,924	1.0%
	Close Brothers Group P.L.C.	976,050		18,332,330	0.8%
	CYBG P.L.C.	6,020,590		20,685,533	0.9%
	Hiscox, Ltd.	1,516,229		31,495,717	1.4%
	IG Group Holdings P.L.C.	2,325,115		17,950,224	0.8%
	Intermediate Capital Group P.L.C.	1,852,823		22,503,673	1.0%
	Jardine Lloyd Thompson Group P.L.C.	809,362		19,503,096	0.9%
	Man Group P.L.C.	10,998,653		21,822,503	1.0%
	NEX Group P.L.C.	1,743,102		25,279,326	1.2%
	Phoenix Group Holdings	3,125,763		24,025,049	1.1%
	Other Securities			132,703,616	6.2%
TOTAL FINANCIALS				356,368,991	16.3%

136

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
HEALTH CARE — (3.1%)
*	BTG P.L.C.	2,027,017	$	14,278,983	0.7%
	Hikma Pharmaceuticals P.L.C.	709,610		17,211,561	0.8%
	Other Securities			37,660,114	1.7%
TOTAL HEALTH CARE				69,150,658	3.2%
INDUSTRIALS — (26.1%)
	Aggreko P.L.C.	1,503,944		16,482,453	0.8%
	Babcock International Group P.L.C.	2,386,069		18,607,071	0.9%
	Balfour Beatty P.L.C.	4,353,036		14,624,025	0.7%
	BBA Aviation P.L.C.	7,229,201		22,169,451	1.0%
*	Cobham P.L.C.	13,770,449		18,902,012	0.9%
	Hays P.L.C.	10,095,835		21,142,022	1.0%
	HomeServe P.L.C.	1,796,181		21,804,263	1.0%
	Howden Joinery Group P.L.C.	4,514,716		27,032,776	1.2%
	IMI P.L.C.	1,718,223		21,784,421	1.0%
	Meggitt P.L.C.	5,004,804		33,860,533	1.6%
	National Express Group P.L.C.	2,749,825		14,050,708	0.6%
	Pagegroup P.L.C.	2,363,699		15,151,252	0.7%
	Rotork P.L.C.	5,593,291		21,417,382	1.0%
	Travis Perkins P.L.C.	1,526,689		21,562,494	1.0%
	Other Securities			287,347,232	12.9%
TOTAL INDUSTRIALS				575,938,095	26.3%
INFORMATION TECHNOLOGY — (5.6%)
	Electrocomponents P.L.C.	3,256,497		25,783,135	1.2%
	Spectris P.L.C.	723,646		19,798,756	0.9%
	Other Securities			78,470,162	3.6%
TOTAL INFORMATION TECHNOLOGY				124,052,053	5.7%
MATERIALS — (6.2%)
	RPC Group P.L.C.	2,589,442		25,239,745	1.2%
	Victrex P.L.C.	634,126		21,450,080	1.0%
	Other Securities			89,277,442	4.0%
TOTAL MATERIALS				135,967,267	6.2%
REAL ESTATE — (2.7%)
	Capital & Counties Properties P.L.C.	4,642,681		14,813,146	0.7%
	Other Securities			45,199,144	2.0%
TOTAL REAL ESTATE				60,012,290	2.7%
UTILITIES — (2.1%)
	Drax Group P.L.C.	2,899,857		14,853,691	0.7%
	Pennon Group P.L.C.	2,715,100		25,865,566	1.2%
	Other Securities			6,685,437	0.3%
TOTAL UTILITIES				47,404,694	2.2%
TOTAL COMMON STOCKS				2,178,207,299	99.5%

137

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
PREFERRED STOCKS — (0.0%)
CONSUMER STAPLES — (0.0%)
	Other Security		$	39,022	0.0%
TOTAL INVESTMENT SECURITIES				2,178,246,321
SECURITIES LENDING COLLATERAL — (1.2%)
@§	DFA Short Term Investment Fund	2,207,404		25,539,665	1.2%
TOTAL INVESTMENTS—(100.0%) (Cost $2,157,526,564)			$	2,203,785,986	100.7%

138

The United Kingdom Small Company Series
continued

Summary of the Series’ investments as of October 31, 2018, 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
Communication Services	—	$	142,790,507	—	$	142,790,507
Consumer Discretionary	—		453,539,481	—		453,539,481
Consumer Staples	—		103,836,216	—		103,836,216
Energy	—		109,147,047	—		109,147,047
Financials	—		356,368,991	—		356,368,991
Health Care	—		69,150,658	—		69,150,658
Industrials	—		575,938,095	—		575,938,095
Information Technology	—		124,052,053	—		124,052,053
Materials	—		135,967,267	—		135,967,267
Real Estate	—		60,012,290	—		60,012,290
Utilities	—		47,404,694	—		47,404,694
Preferred Stocks
Consumer Staples	—		39,022	—		39,022
Securities Lending Collateral	—		25,539,665	—		25,539,665
TOTAL	—	$	2,203,785,986	—	$	2,203,785,986

See accompanying Notes to Financial Statements.
139

THE CONTINENTAL SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2018

					Percentage
		Shares	Value»		of Net Assets‡
COMMON STOCKS — (89.5%)
AUSTRIA — (2.8%)
	ANDRITZ AG	447,429	$	23,181,306	0.4%
	Other Securities			146,265,159	2.7%
TOTAL AUSTRIA				169,446,465	3.1%
BELGIUM — (3.6%)
	Ackermans & van Haaren NV	156,548		24,646,516	0.5%
*	Galapagos NV	220,186		22,621,528	0.4%
	Umicore SA	425,457		20,027,502	0.4%
	Other Securities			148,933,329	2.7%
TOTAL BELGIUM				216,228,875	4.0%
DENMARK — (5.4%)
	Ambu A.S., Class B	1,079,783		22,493,703	0.4%
	GN Store Nord A.S.	935,887		39,699,067	0.7%
	ISS A.S.	582,591		19,132,966	0.4%
	Jyske Bank A.S.	491,188		20,055,672	0.4%
	Royal Unibrew A.S.	364,385		25,857,570	0.5%
	SimCorp A.S.	284,735		21,923,197	0.4%
	Topdanmark A.S.	491,266		23,351,623	0.4%
	Other Securities			150,298,788	2.8%
TOTAL DENMARK				322,812,586	6.0%
FINLAND — (6.2%)
	Amer Sports Oyj	843,708		31,362,132	0.6%
	Elisa Oyj	520,670		20,715,389	0.4%
#	Huhtamaki Oyj	703,421		19,722,121	0.4%
	Kesko Oyj, Class B	514,318		30,037,493	0.6%
	Metso Oyj	776,014		24,500,237	0.5%
	Nokian Renkaat Oyj	840,330		26,729,512	0.5%
	Orion Oyj, Class B	609,509		20,966,688	0.4%
	Valmet Oyj	919,512		20,936,249	0.4%
	Other Securities			174,883,331	3.0%
TOTAL FINLAND				369,853,152	6.8%
FRANCE — (11.3%)
	Edenred	734,903		27,877,180	0.5%
	Euronext NV	334,230		20,565,988	0.4%
	Eutelsat Communications SA	1,153,248		23,358,563	0.4%
	Ingenico Group SA	412,072		29,164,382	0.5%
	Lagardere SCA	778,374		21,276,640	0.4%
	Rexel SA	2,158,941		27,520,701	0.5%
	Rubis SCA	600,204		30,966,985	0.6%
	Teleperformance	144,931		23,868,988	0.5%
	Other Securities			468,134,707	8.6%
TOTAL FRANCE				672,734,134	12.4%

140

The Continental Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
GERMANY — (14.4%)
	Freenet AG	921,900	$	20,736,172	0.4%
	Hugo Boss AG	456,778		32,642,934	0.6%
#	K+S AG	1,437,309		26,765,532	0.5%
	Lanxess AG	427,092		26,436,018	0.5%
	LEG Immobilien AG	324,194		35,437,322	0.7%
	Nemetschek SE	144,235		18,960,783	0.4%
	Rheinmetall AG	298,579		25,840,127	0.5%
	TAG Immobilien AG	934,395		21,315,539	0.4%
	Other Securities			653,862,145	11.9%
TOTAL GERMANY				861,996,572	15.9%
IRELAND — (1.0%)
	Kingspan Group P.L.C.	438,083		19,033,686	0.4%
	Other Securities			41,773,237	0.7%
TOTAL IRELAND				60,806,923	1.1%
ISRAEL — (2.6%)
	Other Securities			156,740,580	2.9%
ITALY — (8.9%)
*	Saipem SpA	4,217,382		23,063,725	0.4%
#	Unione di Banche Italiane SpA	7,724,232		23,575,581	0.4%
	Other Securities			488,065,418	9.1%
TOTAL ITALY				534,704,724	9.9%
NETHERLANDS — (6.0%)
	Aalberts Industries NV	704,568		25,828,121	0.5%
#	Boskalis Westminster	654,419		18,816,387	0.4%
	IMCD NV	298,658		20,252,701	0.4%
	Koninklijke Vopak NV	443,568		20,059,502	0.4%
	SBM Offshore NV	1,292,245		22,265,899	0.4%
	Other Securities			251,402,301	4.5%
TOTAL NETHERLANDS				358,624,911	6.6%
NORWAY — (2.4%)
	Other Securities			143,504,930	2.6%
PORTUGAL — (1.1%)
	Other Securities			66,870,212	1.2%
SPAIN — (5.8%)
	Cellnex Telecom SA	1,049,614		26,110,496	0.5%
	Enagas SA	1,198,599		31,779,001	0.6%
	Other Securities			285,664,491	5.2%
TOTAL SPAIN				343,553,988	6.3%
SWEDEN — (7.2%)
	Other Securities			427,579,156	7.9%

141

The Continental Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
SWITZERLAND — (10.7%)
	Georg Fischer AG	28,198	$	26,233,883	0.5%
	Helvetia Holding AG	49,892		30,560,119	0.6%
	PSP Swiss Property AG	288,164		27,804,076	0.5%
	Sunrise Communications Group AG	247,924		21,822,731	0.4%
	Other Securities			534,676,680	9.8%
TOTAL SWITZERLAND				641,097,489	11.8%
UNITED KINGDOM — (0.1%)
	Other Security			3,245,372	0.1%
TOTAL COMMON STOCKS				5,349,800,069	98.6%
PREFERRED STOCKS — (0.6%)
GERMANY — (0.6%)
	Other Securities			36,737,960	0.7%
RIGHTS/WARRANTS — (0.0%)
	Other Securities			529,911	0.0%
TOTAL INVESTMENT SECURITIES				5,387,067,940
			Value†
SECURITIES LENDING COLLATERAL — (9.9%)
@§	DFA Short Term Investment Fund	50,963,280		589,645,153	10.9%
TOTAL INVESTMENTS—(100.0%)
	(Cost $5,396,620,915)		$	5,976,713,093	110.2%

142

The Continental Small Company Series
continued

Summary of the Series’ investments as of October 31, 2018, 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		—	$	169,446,465	—	$	169,446,465
Belgium	$	9,566,655		206,662,220	—		216,228,875
Denmark		—		322,812,586	—		322,812,586
Finland		—		369,853,152	—		369,853,152
France		—		672,734,134	—		672,734,134
Germany		—		861,996,572	—		861,996,572
Ireland		—		60,806,923	—		60,806,923
Israel		886,593		155,853,987	—		156,740,580
Italy		—		534,704,724	—		534,704,724
Netherlands		13,210,242		345,414,669	—		358,624,911
Norway		—		143,504,930	—		143,504,930
Portugal		—		66,870,212	—		66,870,212
Spain		—		343,553,988	—		343,553,988
Sweden		961,312		426,617,844	—		427,579,156
Switzerland		—		641,097,489	—		641,097,489
United Kingdom		—		3,245,372	—		3,245,372
Preferred Stocks
Germany		—		36,737,960	—		36,737,960
Rights/Warrants
Norway		—		61,026	—		61,026
Spain		—		410,150	—		410,150
Sweden		—		58,735	—		58,735
Securities Lending Collateral		—		589,645,153	—		589,645,153
TOTAL	$	24,624,802	$	5,952,088,291	—	$	5,976,713,093

See accompanying Notes to Financial Statements.
143

THE CANADIAN SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2018

					Percentage
		Shares	Value»		of Net Assets‡
COMMON STOCKS — (88.1%)
COMMUNICATION SERVICES — (2.1%)
#	Cineplex, Inc.	389,686	$	10,742,303	0.9%
	Other Securities			16,600,688	1.5%
TOTAL COMMUNICATION SERVICES				27,342,991	2.4%
CONSUMER DISCRETIONARY — (5.2%)
*	Great Canadian Gaming Corp.	395,819		12,748,472	1.1%
	Linamar Corp.	293,286		12,144,039	1.1%
	Other Securities			43,111,848	3.7%
TOTAL CONSUMER DISCRETIONARY				68,004,359	5.9%
CONSUMER STAPLES — (4.7%)
	Cott Corp.	886,570		13,347,881	1.2%
	Maple Leaf Foods, Inc.	418,116		9,509,205	0.8%
	North West Co., Inc. (The)	377,836		8,237,224	0.7%
	Premium Brands Holdings Corp.	175,712		11,816,463	1.0%
	Other Securities			18,457,764	1.6%
TOTAL CONSUMER STAPLES				61,368,537	5.3%
ENERGY — (19.4%)
#*	Baytex Energy Corp.	3,627,429		7,412,194	0.7%
	Enerplus Corp.	1,620,219		15,076,670	1.3%
	Gibson Energy, Inc.	526,901		8,341,082	0.7%
*	Gran Tierra Energy, Inc.	2,881,425		8,820,800	0.8%
#*	MEG Energy Corp.	1,549,736		12,396,004	1.1%
*	Parex Resources, Inc.	1,004,921		14,633,549	1.3%
#	Parkland Fuel Corp.	549,825		18,464,631	1.6%
#	Peyto Exploration & Development Corp.	1,016,614		8,293,847	0.7%
#	Secure Energy Services, Inc.	1,113,316		7,256,068	0.6%
	ShawCor, Ltd.	417,375		7,571,055	0.7%
	Whitecap Resources, Inc.	2,879,377		14,085,752	1.2%
	Other Securities			129,525,760	11.3%
TOTAL ENERGY				251,877,412	22.0%
FINANCIALS — (8.3%)
#	Canadian Western Bank	625,580		14,550,693	1.3%
#	Element Fleet Management Corp.	2,029,664		11,948,723	1.0%
#	Genworth MI Canada, Inc.	313,480		10,289,392	0.9%
#	Laurentian Bank of Canada	300,158		9,475,914	0.8%
	TMX Group, Ltd.	180,578		11,356,339	1.0%
	Other Securities			49,652,960	4.4%
TOTAL FINANCIALS				107,274,021	9.4%
HEALTH CARE — (1.2%)
	Other Securities			16,062,725	1.4%

144

The Canadian Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
INDUSTRIALS — (10.9%)
*	ATS Automation Tooling Systems, Inc.	529,030	$	7,780,030	0.7%
#	NFI Group, Inc.	371,520		12,533,103	1.1%
	Russel Metals, Inc.	424,396		7,846,708	0.7%
	Stantec, Inc.	606,624		15,787,108	1.4%
	TFI International, Inc.	570,089		18,971,931	1.6%
	Transcontinental, Inc., Class A	507,476		8,353,530	0.7%
	Other Securities			69,472,105	6.1%
TOTAL INDUSTRIALS				140,744,515	12.3%
INFORMATION TECHNOLOGY — (4.2%)
*	Celestica, Inc.	768,923		7,978,646	0.7%
*	Descartes Systems Group, Inc. (The)	434,588		13,297,280	1.2%
*	Kinaxis, Inc.	160,274		10,820,884	1.0%
	Other Securities			22,548,216	1.9%
TOTAL INFORMATION TECHNOLOGY				54,645,026	4.8%
MATERIALS — (22.7%)
	Alamos Gold, Inc., Class A	2,679,504		10,706,209	0.9%
*	B2Gold Corp.	6,592,719		16,275,845	1.4%
*	Detour Gold Corp.	1,130,078		8,335,339	0.7%
#*	Endeavour Mining Corp.	476,720		7,311,307	0.6%
*	IAMGOLD Corp.	3,238,297		11,118,616	1.0%
#	Labrador Iron Ore Royalty Corp.	423,456		9,199,621	0.8%
	Nevsun Resources, Ltd.	2,058,709		9,148,428	0.8%
#	OceanaGold Corp.	3,947,774		11,365,463	1.0%
	Pan American Silver Corp.	1,053,915		15,523,120	1.4%
*	SSR Mining, Inc.	826,105		8,095,070	0.7%
#	Stella-Jones, Inc.	323,806		10,370,057	0.9%
	Yamana Gold, Inc.	6,738,268		15,304,357	1.3%
	Other Securities			161,282,726	14.1%
TOTAL MATERIALS				294,036,158	25.6%
REAL ESTATE — (3.9%)
	Colliers International Group, Inc.	222,402		15,103,300	1.3%
	FirstService Corp.	193,886		14,224,247	1.2%
	Other Securities			21,539,052	1.9%
TOTAL REAL ESTATE				50,866,599	4.4%
UTILITIES — (5.5%)
	Capital Power Corp.	692,120		14,363,416	1.3%
	Northland Power, Inc.	694,905		10,689,222	0.9%
	Superior Plus Corp.	1,140,753		10,251,136	0.9%
	TransAlta Corp.	1,877,409		9,911,499	0.9%
	Other Securities			26,654,004	2.3%
TOTAL UTILITIES				71,869,277	6.3%
TOTAL COMMON STOCKS				1,144,091,620	99.8%

145

The Canadian Small Company Series
continued

					Percentage
		Shares	Value»		of Net Assets‡
RIGHTS/WARRANTS — (0.0%)
	Other Security		$	2,498	0.0%
TOTAL INVESTMENT SECURITIES				1,144,094,118
SECURITIES LENDING COLLATERAL — (11.9%)
@§	DFA Short Term Investment Fund	13,314,106		154,044,207	13.4%
TOTAL INVESTMENTS—(100.0%)
	(Cost $1,577,242,207)		$	1,298,138,325	113.2%

146

The Canadian Small Company Series
continued

Summary of the Series’ investments as of October 31, 2018, 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
Communication Services	$	27,342,991		—	—	$	27,342,991
Consumer Discretionary		67,997,479	$	6,880	—		68,004,359
Consumer Staples		61,368,537		—	—		61,368,537
Energy		251,877,403		9	—		251,877,412
Financials		107,274,021		—	—		107,274,021
Health Care		16,062,725		—	—		16,062,725
Industrials		140,744,515		—	—		140,744,515
Information Technology		54,645,026		—	—		54,645,026
Materials		294,035,468		690	—		294,036,158
Real Estate		50,866,599		—	—		50,866,599
Utilities		71,869,277		—	—		71,869,277
Rights/Warrants
Energy		—		2,498	—		2,498
Securities Lending Collateral		—		154,044,207	—		154,044,207
TOTAL	$	1,144,084,041	$	154,054,284	—	$	1,298,138,325

See accompanying Notes to Financial Statements.
147

THE DFA INVESTMENT TRUST COMPANY

STATEMENTS OF ASSETS AND LIABILITIES

DECEMBER 31, 2018
(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 $303,598, $217,556,        $19,433, $492,707 and $214,437 of securities on        loan, respectively)	$	3,355,691	$	1,565,792	$	1,995,865	$	4,891,693	$	972,388
Collateral from Securities on Loan Invested in Affiliate        at Value (including cost of $141,918, $86,779, $23,520,        $469,414 and $170,155)		141,920		86,780		23,522		469,429		170,159
Foreign Currencies at Value		140		—		5,641		1,195		581
Cash		353		458		1		1,954		438
Receivables:
Investment Securities Sold		6,436		5,761		1,256		4,416		13
Dividends and Interest		5,301		1,795		6,292		8,978		2,421
Securities Lending Income		927		538		37		1,177		470
Prepaid Expenses and Other Assets		—		—		1		—		—
Total Assets		3,510,768		1,661,124		2,032,615		5,378,842		1,146,470
LIABILITIES:
Payables:
Due to Custodian		—		2,632		—		—		—
Upon Return of Securities Loaned		141,959		86,773		23,526		469,476		170,148
Investment Securities Purchased		1,960		40		2,144		1,540		—
Due to Advisor		302		141		172		426		86
Line of Credit		—		—		485		—		—
Unrealized Loss on Foreign Currency Contracts		25		—		—		—		—
Accrued Expenses and Other Liabilities		426		176		185		508		103
Total Liabilities		144,672		89,762		26,512		471,950		170,337
NET ASSETS	$	3,366,096	$	1,571,362	$	2,006,103	$	4,906,892	$	976,133
Investments at Cost	$	3,277,857	$	1,700,888	$	2,144,468	$	4,775,693	$	1,330,949
Foreign Currencies at Cost	$	138		—	$	5,620	$	1,187	$	581

____________________

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

See accompanying Notes to Financial Statements.
148

THE DFA INVESTMENT TRUST COMPANY

STATEMENTS OF ASSETS AND LIABILITIES

OCTOBER 31, 2018

(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 $406,977, $271,854,
$23,348, $590,451 and $201,608 of securities on
loan, respectively)	$	3,802,749	$	1,719,710	$	2,178,246	$	5,387,068	$	1,144,094
Collateral from Securities on Loan Invested in Affiliate at
Value (including cost of $218,282, $102,268, $25,538,
$589,632 and $154,040)		218,283		102,269		25,540		589,645		154,044
Foreign Currencies at Value		1,430		2,420		1,320		13,899		334
Cash		4,682		531		2,899		1,750		954
Receivables:
Investment Securities Sold		6,042		6,454		2,448		14,104		489
Dividends, Interest and Tax Reclaims		23,777		906		6,330		10,149		711
Securities Lending Income		1,325		642		74		1,375		398
Unrealized Gain on Foreign Currency Contracts		—		—		4		—		—
Total Assets		4,058,288		1,832,932		2,216,861		6,017,990		1,301,024
LIABILITIES:
Payables:
Upon Return of Securities Loaned		218,323		102,262		25,543		589,693		154,033
Investment Securities Purchased		5,218		4		2,151		5,175		—
Due to Advisor		340		152		191		476		103
Unrealized Loss on Foreign Currency Contracts		—		—		—		1		—
Accrued Expenses and Other Liabilities		310		143		151		385		77
Total Liabilities		224,191		102,561		28,036		595,730		154,213
NET ASSETS	$	3,834,097	$	1,730,371	$	2,188,825	$	5,422,260	$	1,146,811
Investments at Cost	$	3,390,946	$	1,814,726	$	2,131,989	$	4,806,989	$	1,423,202
Foreign Currencies at Cost	$	1,430	$	2,426	$	1,320	$	13,953	$	334

____________________

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

See accompanying Notes to Financial Statements.
149

THE DFA INVESTMENT TRUST COMPANY

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDEDOCTOBER 31, 2018

(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 $7,880,        $1,125, $115, $21,531 and $3,695, respectively)	$	71,123		$	70,986		$	78,294		$	140,369		$	21,299
Non Cash Income
Income from Securities Lending		14,354			7,628			1,135			18,943			5,340
Total Investment Income		85,477			78,614			79,429			159,312			26,639
Expenses
Investment Management Fees		4,234			1,927			2,377			6,059			1,201
Accounting & Transfer Agent Fees		178			84			101			254			49
Custodian Fees		628			342			106			737			73
Shareholders’ Reports		1			3			2						4
Directors'/Trustees' Fees & Expenses		17			8			10			24			4
Professional Fees		64			29			36			103			18
Other		125			56			67			203			32
Total Expenses		5,247			2,449			2,699			7,380			1,381
Fees Paid Indirectly (Note C)		(148	)		(54	)		(75	)		(315	)		(49	)
Net Expenses		5,099			2,395			2,624			7,065			1,332
Net Investment Income (Loss)		80,378			76,219			76,805			152,247			25,307
Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) on:
Investment Securities Sold**		229,342			(55,523	)		85,120			319,242			27,505
Affiliated Investment Companies Shares Sold		(137	)		(60	)		(9	)		(101	)		(19	)
Futures		—			(134	)		—			161			—
Foreign Currency Transactions		(2,149	)		(898	)		(1,153	)		(2,498	)		120
Change in Unrealized Appreciation (Depreciation) of:
Investment Securities and Foreign Currency		(628,895	)		(175,750	)		(373,044	)		(1,131,028	)		(185,376	)
Affiliated Investment Companies Shares		71			42			—			78			(3	)
Translation of Foreign Currency Denominated Amounts		280			(7	)		(181	)		(371	)		6
Net Realized and Unrealized Gain (Loss)		(401,488	)		(232,330	)		(289,267	)		(814,517	)		(157,767	)
Net Increase (Decrease) in Net Assets       Resulting from Operations	$	(321,110	)	$	(156,111	)	$	(212,462	)	$	(662,270	)	$	(132,460	)

____________________

**	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.
150

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,
	2018			2017
Increase (Decrease) in Net Assets
Operations:
Net Investment Income (Loss)	$	80,378		$	65,529
Net Realized Gain (Loss) on:
Investment Securities Sold*,**		229,342			174,661
Affiliated Investment Companies Shares Sold		(137	)		70
Foreign Currency Transactions		(2,149	)		(2,843	)
Forward Currency Contracts					—
Change in Unrealized Appreciation (Depreciation) of:
Investment Securities and Foreign Currency		(628,895	)		616,328
Affiliated Investment Companies Shares		71			(116	)
Translation of Foreign Currency Denominated Amounts		280			489
Net Increase (Decrease) in Net Assets Resulting from Operations		(321,110	)		854,118
Transactions in Interest:
Contributions		364,251			195,960
Withdrawals		(198,093	)		(193,623	)
Net Increase (Decrease) from Transactions in Interest		166,158			2,337
Total Increase (Decrease) in Net Assets		(154,952	)		856,455
Net Assets
Beginning of Year		3,989,049			3,132,594
End of Year	$	3,834,097		$	3,989,049

____________________

*	Net of foreign capital gain taxes withheld for the fiscal year ended October 31, 2018 of $0, $0 and $0, respectively.
**	Net of foreign capital gain taxes withheld for the fiscal year ended October 31, 2017 of $0, $0 and $0, respectively.

See accompanying Notes to Financial Statements.
151

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,
	2018			2017			2018			2017			2018			2017			2018			2017
Increase (Decrease) in Net Assets
Operations:
Net Investment Income (Loss)	$	76,219		$	63,045		$	76,805		$	68,684		$	152,247		$	114,873		$	25,307		$	24,738
Net Realized Gain (Loss) on:
Investment Securities Sold*,**		(55,523	)		57,205			85,120			68,209			319,242			217,209			27,505			(39,064	)
Affiliated Investment
Companies Shares Sold		(60	)		63			(9	)		2			(101	)		32			(19	)		21
Futures		(134	)		—			—			—			161			—			—			—
Foreign Currency Transactions		(898	)		(697	)		(1,153	)		330			(2,498	)		992			120			(26	)
Forward Currency Contracts		—						—			—			—			—						—
Change in Unrealized Appreciation
(Depreciation) of:
Investment Securities and
Foreign Currency		(175,750	)		131,297			(373,044	)		383,963			(1,131,028	)		1,106,864			(185,376	)		137,860
Affiliated Investment
Companies Shares		42			(85	)		—			(8	)		78			(119	)		(3	)		(28	)
Translation of Foreign Currency
Denominated Amounts		(7	)		(7	)		(181	)		206			(371	)		303			6			(7	)
Net Increase (Decrease) in
Net Assets Resulting
from Operations		(156,111	)		250,821			(212,462	)		521,386			(662,270	)		1,440,154			(132,460	)		123,494
Transactions in Interest:
Contributions		199,024			110,964			120,516			158,197			480,253			303,976			136,490			269,073
Withdrawals		(128,247	)		(101,816	)		(49,141	)		(33,136	)		(146,782	)		(140,996	)		(47,441	)		(135,609	)
Net Increase (Decrease) from
Transactions in Interest		70,777			9,148			71,375			125,061			333,471			162,980			89,049			133,464
Total Increase (Decrease) in
Net Assets		(85,334	)		259,969			(141,087	)		646,447			(328,799	)		1,603,134			(43,411	)		256,958
Net Assets
Beginning 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
End of Year	$	1,730,371		$	1,815,705		$	2,188,825		$	2,329,912		$	5,422,260		$	5,751,059		$	1,146,811		$	1,190,222

____________________

*	Net of foreign capital gain taxes withheld for the fiscal year ended October 31, 2018 of $0, $0 and $0, respectively.
**	Net of foreign capital gain taxes withheld for the fiscal year ended October 31, 2017 of $0, $0 and $0, respectively.

See accompanying Notes to Financial Statements.
152

THE DFAINVESTMENT 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,
	2018			2017			2016			2015			2014			2018			2017			2016			2015			2014
Total Return		(7.46	)%		27.10	%		14.53	%		9.04	%		2.46	%		(8.14	)%		16.21	%		16.69	%		(11.83	)%		(3.46	)%
Net Assets, End of Year (thousands)	$	3,834,097		$	3,989,049		$	3,132,594		$	2,631,688		$	2,505,409		$	1,730,371		$	1,815,705		$	1,555,736		$	1,228,274		$	1,453,786
Ratio of Expenses to Average
Net Assets		0.12	%		0.13	%		0.13	%		0.13	%		0.13	%		0.13	%		0.13	%		0.13	%		0.13	%		0.13	%
Ratio of Expenses to Average
Net Assets (Excluding Fees
Paid Indirectly)		0.12	%		0.13	%		0.13	%		0.13	%		0.13	%		0.13	%		0.13	%		0.13	%		0.13	%		0.13	%
Ratio of Net Investment Income to
Average Net Assets		1.90	%		1.90	%		1.99	%		1.69	%		1.71	%		3.96	%		3.82	%		4.00	%		4.17	%		3.96	%
Portfolio Turnover Rate		17	%		13	%		10	%		6	%		9	%		18	%		14	%		10	%		7	%		7	%
	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,
	2018			2017			2016			2015			2014			2018			2017			2016			2015			2014
Total Return		(8.90	)%		29.87	%		(15.82	)%		9.95	%		1.22	%		(10.78	)%		34.27	%		6.10	%		9.81	%		(2.25	)%
Net Assets, End of Year (thousands)	$	2,188,825		$	2,329,912		$	1,683,465		$	2,084,113		$	1,995,898		$	5,422,260		$	5,751,059		$	4,147,925		$	3,653,743		$	3,152,277
Ratio of Expenses to Average
Net Assets		0.11	%		0.12	%		0.12	%		0.11	%		0.11	%		0.12	%		0.13	%		0.13	%		0.13	%		0.13	%
Ratio of Expenses to Average
Net Assets (Excluding Fees
Paid Indirectly)		0.11	%		0.12	%		0.12	%		0.11	%		0.11	%		0.12	%		0.13	%		0.13	%		0.13	%		0.13	%
Ratio of Net Investment Income to
Average Net Assets		3.23	%		3.40	%		4.36	%		3.44	%		2.98	%		2.51	%		2.33	%		2.49	%		2.44	%		2.40	%
Portfolio Turnover Rate		14	%		9	%		15	%		10	%		8	%		15	%		13	%		9	%		14	%		13	%

See accompanying Notes to Financial Statements.
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      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,
	2018		2017		2016		2015		2014
Total Return	(10.44	)%	12.10	%	20.77	%	(25.00	)%	(3.83	)%
Net Assets, End of Year (thousands)	$   1,146,811		$   1,190,222		$   933,264		$   623,132		$   849,429
Ratio of Expenses to Average Net Assets	0.12	%	0.12	%	0.12	%	0.12	%	0.12	%
Ratio of Expenses to Average Net Assets
(Excluding Fees Paid Indirectly)	0.12	%	0.12	%	0.12	%	0.12	%	0.12	%
Ratio of Net Investment Income to Average Net Assets	2.11	%	2.14	%	2.52	%	2.73	%	2.42	%
Portfolio Turnover Rate	14	%	22	%	8	%	18	%	5	%

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 the 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, the 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 use 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, and 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 ask 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.

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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 of the Series is 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.

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.

156

3.Deferred Compensation Plan: Each eligible Trustee of the Trust may elect to participate 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.

The Trustees may receive their distributions of proceeds by 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. The 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, 2018, 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 received distributions 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, using 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. Additionally, 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, 2018, 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:

Additionally, 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, 2018, expenses reduced were as follows (amounts in thousands):

	Fees Paid
	Indirectly
The Japanese Small Company Series		$	148
The Asia Pacific Small Company Series			54
The United Kingdom Small Company Series			75
The Continental Small Company Series			315
The Canadian Small Company Series			49

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, 2018, the total related amounts paid by the Trust to the CCO were $87 (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, 2018, 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	$	94
The Asia Pacific Small Company Series		48
The United Kingdom Small Company Series		61
The Continental Small Company Series		122
The Canadian Small Company Series		29

E. Purchases and Sales of Securities:

For the year ended October 31, 2018, 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	$	976,847	$	719,764
The Asia Pacific Small Company Series		510,299		343,622
The United Kingdom Small Company Series		524,714		331,876
The Continental Small Company Series		1,375,712		893,142
The Canadian Small Company Series		322,055		164,166

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

158

For the year ended October 31, 2018, transactions related to Affiliated Investment Companies were as follows (amounts in thousands):

														Change in				Balance			Shares
	Balance			Purchases			Proceeds			Net Realized				Unrealized				at			as of
	at			at			from			Gain/(Loss)				Appreciation/				October 31,			October 31,			Dividend			Capital Gain
	10/31/16			Cost			Sales			on Sales				Depreciation				2018			2018			Income			Distributions
The Japanese Small Company Series
The DFA Short Term
Investment Fund		$	399,385		$	1,131,735		$	1,312,771		$	(137	)		$	71			$	218,283		$	18,866		$	5,579		$—
Total		$	399,385		$	1,131,735		$	1,312,771		$	(137	)		$	71			$	218,283		$	18,866		$	5,579		$—
The Asia Pacific Small Company
The DFA Short Term
Investment Fund		$	257,951		$	378,152		$	533,816		$	(60	)		$	42			$	102,269		$	8,839		$	3,391		$—
Total		$	257,951		$	378,152		$	533,816		$	(60	)		$	42			$	102,269		$	8,839		$	3,391		$—
The United Kingdom Small Company Series
The DFA Short Term
Investment Fund		$	53,700		$	426,909		$	455,060		$	(9	)		$	—			$	25,540		$	2,207		$	1,181		$—
Total		$	53,700		$	426,909		$	455,060		$	(9	)		$	—			$	25,540		$	2,207		$	1,181		$—
The Continental Small Company Series
The DFA Short Term
Investment Fund		$	470,885		$	1,938,694		$	1,819,911		$	(101	)		$	78			$	589,645		$	50,963		$	10,663		$—
Total		$	470,885		$	1,938,694		$	1,819,911		$	(101	)		$	78			$	589,645		$	50,963		$	10,663		$—
The Canadian Small Company
The DFA Short Term
Investment Fund		$	212,919		$	889,834		$	948,687		$	(19	)		$	(3	)		$	154,044		$	13,314		$	3,462		$—
Total		$	212,919		$	889,834		$	948,687		$	(19	)		$	(3	)		$	154,044		$	13,314		$	3,462		$—

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, 2018, 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)
The Japanese Small Company Series	$	3,609,228	$	761,853	$	(350,049	)	$	411,804
The Asia Pacific Small Company Series		1,916,994		282,504		(377,519	)		(95,015	)
The United Kingdom Small Company Series		2,157,527		405,786		(359,527	)		46,259
The Continental Small Company Series		5,396,621		1,297,062		(716,970	)		580,092
The Canadian Small Company Series		1,577,242		146,420		(425,524	)		(279,104	)

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.

159

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.Forward Currency Contracts: The International Equity Series 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) or to transfer balances from one currency to another currency.

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 a 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 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, 2018, the International Equity Series had no outstanding forward currency contracts.

3.Futures Contracts:The Series listed 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. Entering into stock index futures subjects the Series 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.

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The average volume (based on the open positions at each fiscal month-end) of derivative activity for the year ended October 31, 2018 (amounts in thousands):

	Futures
The Asia Pacific Small Company Series	$2,013

The following is a summary of the realized and change in unrealized gains and losses from the Series’ derivative instrument holdings categorized by primary risk exposure for the year ended October 31, 2018 (amounts in thousands):

	Realized Gain (Loss)
	on Derivatives
				Equity
	Total			Contracts(1)
The Asia Pacific Small Company Series	$	(134	)	$	(134	)*
The Continental Small Company Series		161			161	*

(1)	Presented on Statements of Operations as Net Realized Gain (Loss) on: Futures.
*	As of October 31, 2018, there were no futures contracts outstanding. During the year ended October 31, 2018, the Series had limited activity in futures 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 28, 2018 with its domestic custodian bank. A line of credit with similar terms was in effect through March 28, 2018. 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 27, 2019.

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 5, 2018. A line of credit with similar terms was in effect through January 5, 2018. 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 4, 2019.

For the year ended October 31, 2018, 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	2.36%		$	1,921	14		$	2		$	8,641
The Asia Pacific Small Company Series	2.24%			1,559	16			1			8,338
The United Kingdom Small Company Series	2.17%			2,955	1			—			2,955
The Canadian Small Company Series	2.17%			103	3			—			225

* Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2018, 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, 2018.

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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, 2018.

I. Affiliated Trades:

Cross trades for the year ended October 31, 2018, 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, 2018, cross trades by the Series under Rule 17a-7 were as follows (amounts in thousands):

					Realized
Portfolio	Purchases		Sales		Gain (Loss)
The Japanese Small Company Series	$	93,194	$	63,061	$	(33,589	)
The Asia Pacific Small Company Series		36,855		85,500		(57,769	)
The United Kingdom Small Company Series		23,905		20,556		(25,020	)
The Continental Small Company Series		67,369		59,514		(31,813	)
The Canadian Small Company Series		36,652		8,276		636

J. Securities Lending:

As of October 31, 2018, 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	$	210,816
The Asia Pacific Small Company Series		192,107
The United Kingdom Small Company Series		1,195
The Continental Small Company Series		59,659
The Canadian Small Company Series		59,427

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

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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 with securities on loan 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 with other payments to and from borrowers of securities. The 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 or unaffiliated money market funds that are registered or unregistered. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. Additionally, 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 for taxation 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, 2018:

	Remaining Contractual Maturity of the Agreements
	As of October 31, 2018
	Overnight and			Between
	Continuous		<30 days	30 & 90 days	>90 days	Total
Securities Lending Transactions
The Japanese Small Company Series
Common Stocks	$	218,282,913	—	—	—	$	218,282,913
The Asia Pacific Small Company Series
Common Stocks		102,268,796	—	—	—		102,268,796
The United Kingdom Small Company Series
Common Stocks		25,539,665	—	—	—		25,539,665
The Continental Small Company Series
Common Stocks, Preferred Stocks,
Rights/Warrants		589,645,154	—	—	—		589,645,154
The Canadian Small Company Series
Common Stocks, Rights/Warrants		154,044,207	—	—	—		154,044,207

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.

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L. Recently Issued Accounting Standards:

In March 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-08 which changes the amortization period for a callable debt security from the maturity date to the earliest call date. The ASU is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. At this time, management is evaluating the implications of these changes on the financial statements.

In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurements” (“ASU 2018-13”). This update makes certain removals from, changes to and additions to existing disclosure requirements for fair value measurement. ASU 2018-13 does not change fair value measurements already required or permitted by existing standards. ASU 2018-13 is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Series’ early adoption of certain of the ASU 2018-13 disclosure requirements are reflected within these financial statements prepared as of October 31, 2018. Management does not believe that adoption of the remaining disclosure requirements within ASU 2018-13 will materially impact the Series’ financial statements.

In August 2018, the SEC adopted amendments to certain financial statement disclosure requirements to conform them to GAAP for investment companies. These amendments made certain removals from, changes to and additions to existing disclosure requirements under Regulation S-X. These amendments became effective for filings made with the SEC after November 5, 2018. The Series’ adoption of these amendments, effective with these financial statements prepared as of October 31, 2018, required modified disclosures reflected herein, but had no effect on the Series’ net assets or results of operations.

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.

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Trustees of The DFA Investment Trust Company and Shareholders of 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.

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the summary schedules of portfolio holdings, of 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 (five of the series constituting The DFA Investment Trust Company, hereafter collectively referred to as the “Series”) as of October 31, 2018, the related statements of operations for the year ended October 31, 2018, the statements of changes in net assets for each of the two years in the period ended October 31, 2018, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2018 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Series as of October 31, 2018, 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 ended October 31, 2018, and each of the financial highlights for each of the five years in the period ended October 31, 2018 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

These financial statements are the responsibility of the Series’ management. Our responsibility is to express an opinion on the Series’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Series in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2018 by correspondence with the custodian, brokers and the transfer agent of the investee fund; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania
December 21, 2018

We have served as the auditor of one or more investment companies in Dimensional Fund Advisors L.P. investment company group since 1981.

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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, 2018.

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, 2018.

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, 2018.

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

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Name, Address and Year of Birth	Position	Term of Office1and 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).	128 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).	128 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).	128 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).	128 portfolios in 4 investment companies	None

167

Name, Address and Year of Birth	Position	Term of Office1and 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).	128 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).	128 portfolios in 4 investment companies	Director (since 2000) and formerly, Lead Director (May 2014 – May 2017), 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) (21 portfolios) (since 2009).

168

Interested Trustee/Director*

Name, Address and Year of Birth	Position	Term of Office1and 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”). Formerly, Chairman and Director (2009-2018), 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).	128 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.

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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 (since 2001) ●DFA Australia Limited (since 2002) ●Dimensional Fund Advisors Ltd. (since 2002) ●Dimensional Cayman Commodity Fund I Ltd. (since 2010) ●Dimensional Fund Advisors Pte. Ltd. (since 2012) ●Dimensional Hong Kong Limited (since 2012) Director, Vice President and Assistant Secretary (since 2003) of ●Dimensional Fund Advisors Canada ULC
David P. Butler 1964	Co-Chief Executive Officer	Since 2017	Co-Chief Executive Officer (since 2017) of ●all the DFA entities Director (since 2017) of ●Dimensional Holdings Inc. ●Dimensional Fund Advisors Canada ULC ●Dimensional Japan Ltd. ●Dimensional Advisors Ltd. ●Dimensional Fund Advisors Ltd. ●DFA Australia Limited Director and Co-Chief Executive Officer (since 2017) of ●Dimensional Cayman Commodity Fund I Ltd. Head of Global Financial Advisor Services (since 2007) for ●Dimensional Fund Advisors LP Formerly, Vice President (2007 – 2017) of ●all the DFA Entities
Stephen A. Clark 1972	Executive Vice President	Since 2017	Executive Vice President (since 2017) of ●all the DFA entities Director and Vice President (since 2016) of ●Dimensional Japan Ltd. President and Director (since 2016) of ●Dimensional Fund Advisors Canada ULC Vice President (since 2008) and Director (since 2016) of ●DFA Australia Limited Director (since 2016) of ●Dimensional Advisors Ltd. ●Dimensional Fund Advisors Pte. Ltd. ●Dimensional Hong Kong Limited Vice President (since 2016) of ●Dimensional Fund Advisors Pte. Ltd. Head of Global Institutional Services (since 2014) for ●Dimensional Fund Advisors LP Formerly, Vice President (2004 – 2017) of ●all the DFA Entities Formerly, Vice President (2010 – 2016) of ●Dimensional Fund Advisors Canada ULC Formerly, Head of Institutional, North America (2012 – 2013) for ●Dimensional Fund Advisors LP

170

		Term of Office1
		and Length of
Name and Year of Birth	Position	Service	Principal Occupation During Past 5 Years
Christopher S. Crossan 1965	Vice President and Global Chief Compliance Officer	Since 2004	Vice President and Global Chief Compliance Officer (since 2004) of ●all the DFA Entities ●DFA Australia Limited ●Dimensional Fund Advisors Ltd. Chief Compliance Officer (since 2006) and Chief Privacy Officer (since 2015) of ●Dimensional Fund Advisors Canada ULC Chief Compliance Officer of ●Dimensional Fund Advisors Pte. Ltd. (since 2012) ●Dimensional Japan Ltd. (since 2017) Formerly, Vice President and Global Chief Compliance Officer (2010 – 2014) for ●Dimensional SmartNest (US) LLC
Gregory K. Hinkle 1958	Vice President, Chief Financial Officer, and Treasurer	Vice President since 2015 and Chief Financial Officer and Treasurer since 2016	Vice President, Chief Financial Officer, and Treasurer (since 2016) of ●all the DFA Entities ●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. ●DFA Australia Limited Director (since 2016) for ●Dimensional Funds plc ●Dimensional Funds II plc Formerly, interim Chief Financial Officer and interim Treasurer (2016) of ●all the DFA Entities ●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 Formerly, Controller (2015 – 2016) of ●all the DFA Entities ●Dimensional Fund Advisors LP Formerly, Vice President (2008 – 2015) of ●T. Rowe Price Group, Inc. Formerly, Director of Investment Treasury and Treasurer (2008 – 2015) of ●the T. Rowe Price Funds
Jeff J. Jeon 1973	Vice President and Assistant Secretary	Vice President since 2004 and Assistant Secretary since 2017	Vice President (since 2004) and Assistant Secretary (since 2017) of ●all the DFA Entities Vice President and Assistant Secretary (since 2010) of ●Dimensional Cayman Commodity Fund I Ltd.
Joy Lopez 1971	Vice President and Assistant Treasurer	Vice President Since 2015 and Assistant Treasurer since 2017	Vice President (since 2015) of ●all the DFA Entities Assistant Treasurer (since 2017) of ●the DFA Fund Complex Formerly, Senior Tax Manager (2013 – 2015) for ●Dimensional Fund Advisors LP

171

		Term of Office1
		and Length of
Name and Year of Birth	Position	Service	Principal Occupation During Past 5 Years
Kenneth M. Manell 1972	Vice President	Since 2010	Vice President (since 2010) of ●all the DFA Entities ●Dimensional Cayman Commodity Fund I Ltd.
Catherine L. Newell 1964	President and General Counsel	President since 2017 and General Counsel Since 2001	President (since 2017) of ●the DFA Fund Complex General Counsel (since 2001) of ●All the DFA Entities Executive Vice President (since 2017) and Secretary (since 2000) of ●Dimensional Fund Advisors LP ●Dimensional Holdings Inc. ●DFA Securities LLC ●Dimensional Investment LLC Director (since 2002), Vice President (since 1997) and Secretary (since 2002) of ●DFA Australia Limited ●Dimensional Fund Advisors Ltd. Vice President and Secretary of ●Dimensional Fund Advisors Canada ULC (since 2003) ●Dimensional Cayman Commodity Fund I Ltd. (since 2010) ●Dimensional Japan Ltd. (since 2012) ●Dimensional Advisors Ltd. (since 2012) ●Dimensional Fund Advisors Pte. Ltd. (since 2012) Director of ●Dimensional Funds plc (since 2002) ●Dimensional Funds II plc (since 2006) ●Director of Dimensional Japan Ltd. (since 2012) ●Dimensional Advisors Ltd. (since 2012) ●Dimensional Fund Advisors Pte. Ltd. (since 2012) ●Dimensional Hong Kong Limited (since 2012) Formerly, Vice President and Secretary (2010 – 2014) of ●Dimensional SmartNest (US) LLC Formerly, Vice President (1997 – 2017) and Secretary (2000 – 2017) of ●the DFA Fund Complex Formerly, Vice President of ●Dimensional Fund Advisors LP (1997 – 2017) ●Dimensional Holdings Inc. (2006 – 2017) ●DFA Securities LLC (1997 – 2017) ●Dimensional Investment LLC (2009 – 2017)
Selwyn Notelovitz 1961	Vice President and Deputy Chief Compliance Officer	Since 2013	Vice President and Deputy Chief Compliance Officer of ●the DFA Fund Complex (since 2013) ●Dimensional Fund Advisors LP (since 2012)
Carolyn L. O 1974	Vice President and Secretary	Vice President since 2010 and Secretary since 2017	Vice President (since 2010) and Secretary (since 2017) of ●the DFA Fund Complex Vice President (since 2010) and Assistant Secretary (since 2016) of ●Dimensional Fund Advisors LP ●Dimensional Holdings Inc. ●Dimensional Investment LLC Vice President of ●DFA Securities LLC (since 2010) ●Dimensional Cayman Commodity Fund I Ltd. (since 2010) ●Dimensional Fund Advisors Canada ULC (since 2016)

172

		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	Co-Chief Executive Officer and Chief Investment Officer since 2017	Co-Chief Executive Officer and Chief Investment Officer (since 2017) of ●all the DFA Entities ●Dimensional Fund Advisors Canada ULC Director, Chief Investment Officer and Vice President (since 2017) of ●DFA Australia Limited Chief Investment Officer (since 2017) and Vice President (since 2016) of ●Dimensional Japan Ltd. Director, Co-Chief Executive Officer and Chief Investment Officer (since 2017) of ●Dimensional Cayman Commodity Fund I Ltd. Director of ●Dimensional Funds plc (since 2014) ●Dimensional Fund II plc (since 2014) ●Dimensional Holdings Inc. (since 2017) Formerly, Co-Chief Investment Officer of ●Dimensional Japan Ltd. (2016 – 2017) ●DFA Australia Limited (2014 – 2017) Formerly, Executive Vice President (2017) and Co-Chief Investment Officer (2014 – 2017) of ●all the DFA Entities Formerly, Vice President (2007 – 2017) of ●all the DFA Entities Formerly, Vice President and Co-Chief Investment Officer (2014 – 2017) of ●Dimensional Fund Advisors Canada ULC Formerly, Director of ●Dimensional Fund Advisors Pte. Ltd. (2017)

173

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.

174

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, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 95.9%
Aerospace & Defense — 2.6%
	Aerojet Rocketdyne Holdings, Inc. *	2,418	$	85,186
	Arconic, Inc.	4,351		73,358
	Axon Enterprise, Inc. *	500		21,875
	Boeing Co. (The)	16,461		5,308,673
	BWX Technologies, Inc.	4,263		162,975
	Curtiss-Wright Corp.	1,160		118,459
	Esterline Technologies Corp. *	736		89,387
	General Dynamics Corp.	10,085		1,585,463
	Harris Corp.	4,350		585,728
	HEICO Corp.	1,321		102,351
	HEICO Corp., Class A	2,393		150,759
	HEXCEL Corp.	3,100		177,754
	Huntington Ingalls Industries, Inc.	1,972		375,291
	L3 Technologies, Inc.	1,426		247,639
	Lockheed Martin Corp.	8,353		2,187,150
	Moog, Inc., Class A	1,100		85,228
	Northrop Grumman Corp.	6,237		1,527,441
	Raytheon Co.	8,584		1,316,356
	Spirit Aerosystems Holdings, Inc., Class A	5,105		368,019
	Teledyne Technologies, Inc. *	800		165,656
	Textron, Inc.	4,852		223,144
	TransDigm Group, Inc. *	1,620		550,897
	United Technologies Corp.	25,907		2,758,577
				18,267,366
Air Freight & Logistics — 0.8%
	CH Robinson Worldwide, Inc.	6,400		538,176
	Expeditors International of Washington, Inc.	5,723		389,679
	FedEx Corp.	9,639		1,555,060
	United Parcel Service, Inc., Class B	31,383		3,060,784
	XPO Logistics, Inc. *	3,544		202,150
				5,745,849
Airlines — 0.7%
	Alaska Air Group, Inc.	5,364		326,399
	American Airlines Group, Inc.	13,952		447,999
	Copa Holdings SA, Class A	999		78,631
	Delta Air Lines, Inc.	24,961		1,245,554
	JetBlue Airways Corp. *	12,225		196,334
	Skywest, Inc.	1,469		65,327
	Southwest Airlines Co.	22,109		1,027,626
	Spirit Airlines, Inc. *	2,600		150,592
	United Continental Holdings, Inc. *	12,114		1,014,305
				4,552,767
Auto Components — 0.3%
	Aptiv PLC	10,777		663,540
	Autoliv, Inc.	2,200		154,506
	BorgWarner, Inc.	5,449		189,298
	Dorman Products, Inc. *	1,109		99,832
	Fox Factory Holding Corp. *	977		57,516
	Garrett Motion, Inc. *@	2,834		34,971
	Gentex Corp.	10,100		204,121
	Goodyear Tire & Rubber Co. (The)	7,653		156,198
	Lear Corp.	2,724		334,671
	Veoneer, Inc. *	2,200		51,854
				1,946,507
Automobiles — 0.5%
	Ford Motor Co.	120,220		919,683
	General Motors Co.	48,002		1,605,667
	Harley-Davidson, Inc.	6,616		225,738
	Tesla, Inc. *@	903		300,518
	Thor Industries, Inc.	1,900		98,800
				3,150,406
Beverages — 2.4%
	Boston Beer Co., Inc. (The), Class A *@	422		101,634
	Brown-Forman Corp., Class A	1,902		90,193
	Brown-Forman Corp., Class B	13,775		655,415
	Coca-Cola Co. (The)	153,690		7,277,222
	Constellation Brands, Inc., Class A	3,854		619,800
	Keurig Dr Pepper, Inc.	8,222		210,812
	Molson Coors Brewing Co., Class B	3,106		174,433
	Monster Beverage Corp. *	11,491		565,587
	National Beverage Corp. @	500		35,885
	PepsiCo, Inc.	63,525		7,018,242
				16,749,223
Biotechnology — 2.8%
	AbbVie, Inc.	45,211		4,168,002
	Agios Pharmaceuticals, Inc. *@	539		24,853
	Alexion Pharmaceuticals, Inc. *	2,636		256,641
	Alkermes PLC *	1,579		46,596
	Alnylam Pharmaceuticals, Inc. *	647		47,173
	Amgen, Inc.	25,582		4,980,048
	Biogen, Inc. *	7,680		2,311,065
	BioMarin Pharmaceutical, Inc. *	1,433		122,020
	Bluebird Bio, Inc. *@	400		39,680
	Celgene Corp. *	27,905		1,788,431
	Emergent BioSolutions, Inc. *	882		52,285
	Exact Sciences Corp. *@	2,356		148,664
	Exelixis, Inc. *	10,395		204,470
	FibroGen, Inc. *	1,123		51,972
	Gilead Sciences, Inc.	48,654		3,043,308
	Halozyme Therapeutics, Inc. *	2,304		33,707
	Incyte Corp. *	1,173		74,591
	Ionis Pharmaceuticals, Inc. *@	1,498		80,982
	Ligand Pharmaceuticals, Inc. *@	391		53,059
	Myriad Genetics, Inc. *@	2,380		69,187
	Neurocrine Biosciences, Inc. *	1,424		101,688
	OPKO Health, Inc. *@	1,793		5,397
	Regeneron Pharmaceuticals, Inc. *	2,358		880,713
	REGENXBIO, Inc. *	541		22,695
	Sage Therapeutics, Inc. *@	386		36,975
	Sarepta Therapeutics, Inc. *@	770		84,030
	Seattle Genetics, Inc. *@	1,165		66,009
	Ultragenyx Pharmaceutical, Inc. *@	352		15,305
	United Therapeutics Corp. *	1,397		152,133
	Vertex Pharmaceuticals, Inc. *	2,756		456,697
				19,418,376
Building Products — 0.3%
	A.O. Smith Corp.	3,947		168,537
	Allegion PLC	4,161		331,673
	Armstrong World Industries, Inc.	1,690		98,375
	Fortune Brands Home & Security, Inc.	4,718		179,237
	Johnson Controls International PLC	17,991		533,433
	Lennox International, Inc.	1,236		270,511
	Masco Corp.	8,930		261,113
	Owens Corning	3,497		153,798
	Resideo Technologies, Inc. *	4,723		97,058
	Simpson Manufacturing Co., Inc.	1,080		58,460
	Trex Co., Inc. *	2,000		118,720
	USG Corp.	2,828		120,643
				2,391,558
Capital Markets — 2.1%
	Affiliated Managers Group, Inc.	1,196		116,538
	Ameriprise Financial, Inc.	4,953		516,944

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Capital Markets (Continued)
	Ares Management Corp., Class A @	2,300	$	40,894
	Bank of New York Mellon Corp. (The)	12,609		593,506
	BGC Partners, Inc., Class A	8,437		43,619
	BlackRock, Inc.	1,812		711,790
	CBOE Holdings, Inc.	2,123		207,693
	Charles Schwab Corp. (The)	24,349		1,011,214
	CME Group, Inc.	3,901		733,856
	E*Trade Financial Corp.	5,476		240,287
	Eaton Vance Corp.	4,868		171,256
	Evercore, Inc., Class A	1,680		120,221
	FactSet Research Systems, Inc.	1,698		339,821
	Federated Investors, Inc., Class B	3,536		93,881
	Franklin Resources, Inc.	4,676		138,690
	Goldman Sachs Group, Inc. (The)	7,722		1,289,960
	Houlihan Lokey, Inc.	1,466		53,949
	Interactive Brokers Group, Inc., Class A	2,779		151,872
	Intercontinental Exchange, Inc.	7,597		572,282
	Invesco Ltd.	9,419		157,674
	Janus Henderson Group PLC	3,343		69,267
	Lazard Ltd., Class A	1,209		44,624
	Legg Mason, Inc.	1,900		48,469
	LPL Financial Holdings, Inc.	2,967		181,224
	MarketAxess Holdings, Inc.	1,300		274,703
	Moelis & Co., Class A	1,315		45,210
	Moody's Corp.	5,070		710,003
	Morgan Stanley	23,701		939,745
	Morningstar, Inc.	700		76,888
	MSCI, Inc., Class A	3,889		573,355
	Nasdaq, Inc.	2,219		181,004
	Northern Trust Corp.	4,208		351,747
	Raymond James Financial, Inc.	2,130		158,493
	S&P Global, Inc.	11,733		1,993,906
	SEI Investments Co.	4,110		189,882
	State Street Corp.	4,828		304,502
	Stifel Financial Corp.	1,686		69,834
	T. Rowe Price Group, Inc.	8,456		780,658
	TD Ameritrade Holding Corp.	4,481		219,390
				14,518,851
Chemicals — 1.9%
	Air Products & Chemicals, Inc.	3,849		616,032
	Albemarle Corp. @	1,733		133,562
	Ashland Global Holdings, Inc.	1,329		94,306
	Axalta Coating Systems Ltd. *	6,803		159,326
	Balchem Corp.	893		69,966
	Cabot Corp.	1,800		77,292
	Celanese Corp., Series A	4,185		376,524
	CF Industries Holdings, Inc.	5,666		246,528
	Chemours Co. (The)	6,313		178,153
	DowDuPont, Inc.	31,828		1,702,161
	Eastman Chemical Co.	4,916		359,409
	Ecolab, Inc.	8,305		1,223,742
	FMC Corp.	2,554		188,894
	H.B. Fuller Co.	1,077		45,956
	Huntsman Corp.	8,447		162,943
	Ingevity Corp. *	1,630		136,415
	International Flavors & Fragrances, Inc.	1,995		267,869
	Linde PLC	14,061		2,194,078
	LyondellBasell Industries NV, Class A	12,485		1,038,253
	Mosaic Co. (The)	4,472		130,627
	NewMarket Corp.	462		190,386
	Olin Corp.	3,768		75,774
	Platform Specialty Products Corp. *	3,480		35,948
	PolyOne Corp.	2,800		80,080
	PPG Industries, Inc.	10,110		1,033,545
	Quaker Chemical Corp.	100		17,771
	RPM International, Inc.	4,528		266,156
	Scotts Miracle-Gro Co. (The) @	2,064		126,853
	Sensient Technologies Corp.	1,000		55,850
	Sherwin Williams Co. (The)	3,387		1,332,649
	Trinseo SA	1,265		57,912
	Valvoline, Inc.	6,562		126,975
	W.R. Grace & Co.	2,716		176,296
	Westlake Chemical Corp.	1,143		75,632
				13,053,863
Commercial Banks — 3.7%
	Associated Banc-Corp.	2,802		55,452
	BancorpSouth Bank	2,260		59,076
	Bank of America Corp.	126,833		3,125,165
	Bank of Hawaii Corp.	1,300		87,516
	Bank OZK	3,146		71,823
	BankUnited, Inc.	2,500		74,850
	BB&T Corp.	10,169		440,521
	BOK Financial Corp.	536		39,305
	Cathay General Bancorp	2,395		80,304
	CenterState Bank Corp.	2,400		50,496
	Chemical Financial Corp.	1,945		71,206
	CIT Group, Inc.	2,584		98,890
	Citigroup, Inc.	33,671		1,752,912
	Citizens Financial Group, Inc.	5,613		166,875
	Columbia Banking System, Inc.	2,122		77,007
	Comerica, Inc.	2,162		148,508
	Commerce Bancshares, Inc.	2,662		150,057
	Community Bank System, Inc.	1,414		82,436
	Cullen/Frost Bankers, Inc.	998		87,764
	CVB Financial Corp.	2,712		54,864
	East West Bancorp, Inc.	3,283		142,909
	FCB Financial Holdings, Inc., Class A *	1,301		43,688
	Fifth Third Bancorp	15,975		375,892
	First Citizens Bancshares, Inc., Class A	212		79,935
	First Financial Bancorp	3,382		80,221
	First Financial Bankshares, Inc. @	1,547		89,246
	First Hawaiian, Inc.	2,089		47,023
	First Horizon National Corp.	6,040		79,486
	First Interstate Bancsystem, Inc.	976		35,683
	First Midwest Bancorp, Inc.	3,292		65,215
	First Republic Bank	1,836		159,548
	FNB Corp.	10,015		98,548
	Fulton Financial Corp.	5,467		84,629
	Glacier Bancorp, Inc.	1,416		56,102
	Hancock Whiteny Corp.	2,048		70,963
	Hilltop Holdings, Inc.	2,327		41,490
	Home Bancshares, Inc.	2,811		45,932
	Huntington Bancshares, Inc.	17,719		211,210
	Iberiabank Corp.	966		62,094
	Independent Bank Corp.	523		36,772
	International Bancshares Corp.	1,350		46,440
	Investors Bancorp, Inc.	5,282		54,933
	JPMorgan Chase & Co.	72,295		7,057,438
	KeyCorp	17,893		264,459
	M&T Bank Corp.	2,341		335,067

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Commercial Banks (Continued)
	MB Financial, Inc.	1,600	$	63,408
	Old National Bancorp	2,800		43,120
	PacWest Bancorp	2,694		89,656
	People's United Financial, Inc.	6,502		93,824
	Pinnacle Financial Partners, Inc.	1,595		73,530
	PNC Financial Services Group, Inc. (The)	6,098		712,917
	Popular, Inc.	2,182		103,034
	Prosperity Bancshares, Inc. @	1,226		76,380
	Regions Financial Corp.	18,937		253,377
	Signature Bank	645		66,312
	Simmons First National Corp., Class A	1,200		28,956
	South State Corp.	799		47,900
	Sterling Bancorp	4,073		67,245
	SunTrust Banks, Inc.	8,072		407,152
	SVB Financial Group *	1,071		203,404
	Synovus Financial Corp.	3,089		98,817
	TCF Financial Corp.	4,700		91,603
	Texas Capital Bancshares, Inc. *	1,332		68,052
	UMB Financial Corp.	900		54,873
	Umpqua Holdings Corp.	4,700		74,730
	Union Bankshares Corp.	723		20,410
	United Bankshares, Inc. @	2,162		67,260
	US Bancorp	32,040		1,464,228
	Valley National Bancorp	5,707		50,678
	Webster Financial Corp.	1,771		87,293
	Wells Fargo & Co.	92,745		4,273,690
	WesBanco, Inc.	1,252		45,936
	Western Alliance Bancorp *	2,242		88,537
	Wintrust Financial Corp.	1,701		113,100
	Zions Bancorp	4,331		176,445
				25,545,817
Commercial Services & Supplies — 0.6%
	Brink's Co. (The)	1,830		118,310
	Cimpress NV *	1,180		122,036
	Cintas Corp.	3,174		533,200
	Clean Harbors, Inc. *	1,735		85,622
	Copart, Inc. *	8,342		398,581
	Deluxe Corp.	600		23,064
	Healthcare Services Group, Inc. @	2,553		102,580
	KAR Auction Services, Inc.	5,425		258,881
	MSA Safety, Inc.	764		72,022
	Republic Services, Inc.	7,222		520,634
	Rollins, Inc.	6,331		228,549
	Stericycle, Inc. *	1,544		56,649
	Tetra Tech, Inc.	1,092		56,533
	UniFirst Corp.	477		68,244
	Waste Management, Inc.	20,670		1,839,423
				4,484,328
Communications Equipment — 1.1%
	Arista Networks, Inc. *	1,315		277,071
	ARRIS International PLC *	5,691		173,974
	Ciena Corp. *	2,569		87,115
	Cisco Systems, Inc.	130,810		5,667,997
	CommScope Holding Co., Inc. *	7,058		115,681
	EchoStar Corp., Class A *	1,040		38,189
	F5 Networks, Inc. *	2,445		396,163
	InterDigital, Inc.	1,372		91,142
	Juniper Networks, Inc.	4,904		131,967
	Lumentum Holdings, Inc. *@	1,528		64,191
	Motorola Solutions, Inc.	4,755		547,015
	Ubiquiti Networks, Inc.	932		92,650
	Viasat, Inc. *@	1,131		66,672
	Viavi Solutions, Inc. *	5,100		51,255
				7,801,082
Computers & Peripherals — 3.8%
	Apple, Inc.	148,687		23,453,887
	Dell Technologies, Inc., Class C *	3,965		193,777
	Hewlett Packard Enterprise Co.	16,595		219,220
	HP, Inc.	47,958		981,221
	NCR Corp. *@	4,927		113,715
	NetApp, Inc.	7,606		453,850
	Pure Storage, Inc., Class A *	1,065		17,125
	Seagate Technology PLC	14,030		541,418
	Western Digital Corp.	5,725		211,653
	Xerox Corp.	4,155		82,103
				26,267,969
Construction & Engineering — 0.1%
	AECOM *	2,700		71,550
	EMCOR Group, Inc.	1,700		101,473
	Fluor Corp.	2,483		79,953
	Jacobs Engineering Group, Inc.	1,857		108,560
	KBR, Inc.	2,987		45,343
	MasTec, Inc. *@	2,200		89,232
	Quanta Services, Inc.	3,524		106,072
	Valmont Industries, Inc.	432		47,930
				650,113
Construction Materials — 0.1%
	Eagle Materials, Inc.	1,080		65,912
	Martin Marietta Materials, Inc.	1,092		187,682
	Vulcan Materials Co.	2,310		228,228
				481,822
Consumer Finance — 0.8%
	Ally Financial, Inc.	12,704		287,873
	American Express Co.	27,340		2,606,049
	Capital One Financial Corp.	9,741		736,322
	Credit Acceptance Corp. *	384		146,596
	Discover Financial Services	13,557		799,592
	FirstCash, Inc.	1,400		101,290
	Green Dot Corp., Class A *	1,372		109,101
	Navient Corp.	7,353		64,780
	Nelnet, Inc., Class A	156		8,165
	OneMain Holdings, Inc. *	2,157		52,394
	Santander Consumer USA Holdings, Inc.	3,992		70,219
	SLM Corp. *	12,396		103,011
	Synchrony Financial	19,251		451,628
				5,537,020
Containers & Packaging — 0.5%
	AptarGroup, Inc.	2,021		190,115
	Avery Dennison Corp.	4,184		375,849
	Ball Corp.	7,723		355,104
	Bemis Co., Inc.	2,365		108,553
	Berry Plastics Group, Inc. *	4,752		225,863
	Crown Holdings, Inc. *	6,068		252,247
	Graphic Packaging Holding Co. @	13,226		140,725
	Greif, Inc., Class A	1,000		37,110
	International Paper Co.	12,268		495,136
	Owens-Illinois, Inc. *	4,200		72,408
	Packaging Corp. of America	4,365		364,303
	Sealed Air Corp.	5,167		180,018
	Silgan Holdings, Inc.	3,936		92,968
	Sonoco Products Co.	3,106		165,022
	WestRock Co.	2,625		99,120
				3,154,541

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Distributors — 0.1%
	Genuine Parts Co.	4,651	$	446,589
	LKQ Corp. *	7,445		176,670
	Pool Corp.	1,885		280,205
				903,464
Diversified Consumer Services — 0.2%
	Adtalem Global Education, Inc. *	1,600		75,712
	Bright Horizons Family Solutions, Inc. *	1,729		192,697
	Chegg, Inc. *	1,910		54,282
	Graham Holdings Co., Class B	100		64,058
	Grand Canyon Education, Inc. *	1,784		171,514
	H&R Block, Inc.	6,927		175,738
	Service Corp. International	7,625		306,982
	ServiceMaster Global Holdings, Inc. *	6,209		228,119
	Weight Watchers International, Inc. *	1,001		38,589
				1,307,691
Diversified Financial Services — 0.8%
	Berkshire Hathaway, Inc., Class B *	25,462		5,198,831
	Jefferies Financial Group, Inc.	5,172		89,786
	Voya Financial, Inc.	2,076		83,331
				5,371,948
Diversified Telecommunication Services — 2.5%
	AT&T, Inc.	205,857		5,875,159
	CenturyLink, Inc.	20,926		317,029
	Cogent Communications Holdings, Inc.	1,228		55,518
	Intelsat SA *	1,988		42,523
	Iridium Communications, Inc. *@	3,043		56,143
	Verizon Communications, Inc.	193,995		10,906,399
	Vonage Holdings Corp. *	4,909		42,856
	Zayo Group Holdings, Inc. *	7,662		175,000
				17,470,627
Electric Utilities — 1.8%
	Allete, Inc.	1,553		118,370
	Alliant Energy Corp.	6,292		265,837
	American Electric Power Co., Inc.	11,742		877,597
	Avangrid, Inc.	1,433		71,779
	Duke Energy Corp.	16,530		1,426,539
	Edison International	8,634		490,152
	El Paso Electric Co.	1,200		60,156
	Entergy Corp.	4,510		388,176
	Evergy, Inc.	8,109		460,348
	Eversource Energy	7,665		498,532
	Exelon Corp.	29,315		1,322,106
	FirstEnergy Corp.	12,570		472,003
	Hawaiian Electric Industries, Inc.	3,245		118,832
	IDACORP, Inc.	1,546		143,871
	MGE Energy, Inc.	500		29,980
	NextEra Energy, Inc.	13,612		2,366,038
	OGE Energy Corp.	5,722		224,245
	PG&E Corp. *	12,422		295,022
	Pinnacle West Capital Corp.	3,190		271,788
	PNM Resources, Inc.	2,600		106,834
	Portland General Electric Co.	2,100		96,285
	PPL Corp.	19,020		538,837
	Southern Co. (The)	25,224		1,107,838
	Xcel Energy, Inc.	15,130		745,455
				12,496,620
Electrical Equipment — 0.6%
	Acuity Brands, Inc.	1,000		114,950
	AMETEK, Inc.	5,356		362,601
	Eaton Corp. PLC	8,482		582,374
	Emerson Electric Co.	19,728		1,178,748
	EnerSys	1,200		93,132
	Generac Holdings, Inc. *	2,200		109,340
	GrafTech International Ltd.	2,123		24,287
	Hubbell, Inc.	1,588		157,752
	nVent Electric PLC	3,472		77,981
	Regal Beloit Corp.	967		67,739
	Rockwell Automation, Inc.	5,133		772,414
	Sensata Technologies Holding PLC *	5,617		251,866
				3,793,184
Electronic Equipment, Instruments & Components — 0.8%
	Amphenol Corp., Class A	11,806		956,522
	Arrow Electronics, Inc. *	2,385		164,446
	Avnet, Inc.	2,380		85,918
	CDW Corp.	6,754		547,412
	Cognex Corp.	4,589		177,457
	Coherent, Inc. *	580		61,312
	Corning, Inc.	16,652		503,057
	Dolby Laboratories, Inc., Class A	1,582		97,831
	Flex Ltd. *	17,583		133,807
	FLIR Systems, Inc.	3,073		133,798
	II-VI, Inc. *	908		29,474
	IPG Photonics Corp. *	990		112,157
	Jabil, Inc.	5,400		133,866
	Keysight Technologies, Inc. *	3,985		247,389
	Littelfuse, Inc.	580		99,458
	National Instruments Corp.	1,675		76,011
	Novanta, Inc. *	1,061		66,843
	SYNNEX Corp.	1,139		92,077
	TE Connectivity Ltd.	11,219		848,493
	Tech Data Corp. *	763		62,421
	Trimble, Inc. *	4,818		158,560
	Vishay Intertechnology, Inc.	4,130		74,381
	Zebra Technologies Corp., Class A *	2,214		352,535
				5,215,225
Energy Equipment & Services — 0.3%
	Apergy Corp. *	2,188		59,251
	Baker Hughes a GE Co.	6,648		142,932
	Cactus, Inc., Class A *	586		16,062
	Core Laboratories NV	2,191		130,715
	Halliburton Co.	9,600		255,168
	Helmerich & Payne, Inc.	2,251		107,913
	National Oilwell Varco, Inc.	4,552		116,987
	Patterson-UTI Energy, Inc.	4,300		44,505
	Rowan Cos. PLC, Class A *@	2,528		21,210
	RPC, Inc. @	1,205		11,893
	Schlumberger Ltd.	19,800		714,384
	TechnipFMC PLC	5,163		101,092
	Transocean Ltd. *@	8,229		57,109
				1,779,221
Entertainment — 1.9%
	Activision Blizzard, Inc.	16,919		787,918
	Cinemark Holdings, Inc.	4,417		158,129
	Electronic Arts, Inc. *	8,776		692,514
	Liberty Media Corp-Liberty Formula One, Class A *@	315		9,362
	Liberty Media Corp-Liberty Formula One, Class C *@	294		9,026
	Lions Gate Entertainment Corp., Class A	632		10,175

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Entertainment (Continued)
	Lions Gate Entertainment Corp., Class B	3,665	$	54,535
	Live Nation Entertainment, Inc. *	4,850		238,863
	Madison Square Garden Co. (The), Class A *	447		119,662
	Netflix, Inc. *	9,428		2,523,498
	Take-Two Interactive Software, Inc. *	2,296		236,350
	Twenty-First Century Fox, Inc., Class A	41,745		2,008,769
	Twenty-First Century Fox, Inc., Class B	17,373		830,082
	Viacom, Inc., Class A	294		8,176
	Viacom, Inc., Class B	9,454		242,968
	Walt Disney Co. (The)	45,225		4,958,921
	World Wrestling Entertainment, Inc., Class A	1,295		96,762
	Zynga, Inc., Class A *	18,104		71,149
				13,056,859
Food & Staples Retailing — 1.8%
	Casey's General Stores, Inc.	1,341		171,836
	Costco Wholesale Corp.	16,476		3,356,326
	Kroger Co. (The)	38,913		1,070,107
	Performance Food Group Co. *	2,733		88,194
	Sprouts Farmers Market, Inc. *	2,993		70,365
	Sysco Corp.	21,676		1,358,218
	US Foods Holding Corp. *	5,611		177,532
	Walgreens Boots Alliance, Inc.	15,599		1,065,880
	Walmart, Inc.	54,534		5,079,842
				12,438,300
Food Products — 1.0%
	Archer-Daniels-Midland Co.	7,738		317,026
	Bunge Ltd.	1,782		95,230
	Cal-Maine Foods, Inc.	1,063		44,965
	Campbell Soup Co. @	8,657		285,594
	Conagra Brands, Inc.	10,117		216,099
	Darling Ingredients, Inc. *	5,610		107,936
	Flowers Foods, Inc.	5,407		99,867
	General Mills, Inc.	19,376		754,501
	Hain Celestial Group, Inc. (The) *	100		1,586
	Hershey Co. (The)	6,749		723,358
	Hormel Foods Corp. @	9,190		392,229
	Ingredion, Inc.	2,464		225,210
	J&J Snack Foods Corp.	457		66,078
	J.M. Smucker Co. (The)	2,349		219,608
	Kellogg Co.	11,146		635,434
	Kraft Heinz Co. (The)	7,695		331,193
	Lamb Weston Holdings, Inc.	4,692		345,144
	Lancaster Colony Corp.	722		127,693
	McCormick & Co., Inc.	3,658		509,340
	Mondelez International, Inc., Class A	18,311		732,989
	Pilgrim's Pride Corp. *	1,700		26,367
	Post Holdings, Inc. *	1,937		172,645
	Sanderson Farms, Inc.	839		83,304
	TreeHouse Foods, Inc. *	916		46,450
	Tyson Foods, Inc., Class A	8,773		468,478
				7,028,324
Gas Utilities — 0.2%
	Atmos Energy Corp.	2,360		218,819
	National Fuel Gas Co. @	2,513		128,615
	New Jersey Resources Corp.	2,300		105,041
	ONE Gas, Inc.	953		75,859
	South Jersey Industries, Inc. @	1,600		44,480
	Southwest Gas Corp.	1,343		102,740
	Spire, Inc.	1,631		120,824
	UGI Corp.	5,299		282,702
				1,079,080
Health Care Equipment & Supplies — 2.1%
	Abbott Laboratories	24,638		1,782,067
	ABIOMED, Inc. *	957		311,063
	Align Technology, Inc. *	2,300		481,689
	Avanos Medical, Inc. *	1,856		83,130
	Baxter International, Inc.	9,285		611,139
	Becton Dickinson & Co.	3,268		736,346
	Boston Scientific Corp. *	29,724		1,050,446
	Cantel Medical Corp.	1,074		79,959
	Cooper Companies, Inc. (The)	939		238,975
	Danaher Corp.	5,986		617,276
	Dentsply Sirona, Inc.	2,313		86,067
	DexCom, Inc. *	1,183		141,723
	Edwards Lifesciences Corp. *	6,374		976,306
	Globus Medical, Inc., Class A *	1,500		64,920
	Haemonetics Corp. *	1,000		100,050
	Hill-Rom Holdings, Inc.	1,695		150,092
	Hologic, Inc. *	9,185		377,503
	ICU Medical, Inc. *	148		33,985
	Idexx Laboratories, Inc. *	2,754		512,299
	Inogen, Inc. *	301		37,375
	Insulet Corp. *@	901		71,467
	Integer Holdings Corp. *	694		52,924
	Integra LifeSciences Holdings Corp. *	1,168		52,677
	Intuitive Surgical, Inc. *	2,428		1,162,818
	LivaNova PLC *	1,115		101,989
	Masimo Corp. *	1,500		161,055
	Medtronic PLC	17,759		1,615,359
	Merit Medical Systems, Inc. *	1,133		63,233
	Neogen Corp. *	417		23,769
	NuVasive, Inc. *	1,369		67,848
	Penumbra, Inc. *@	89		10,876
	Quidel Corp. *	389		18,991
	ResMed, Inc.	4,096		466,412
	STERIS PLC	1,118		119,458
	Stryker Corp.	9,773		1,531,918
	Teleflex, Inc.	764		197,479
	Varian Medical Systems, Inc. *	2,725		308,770
	West Pharmaceutical Services, Inc.	1,511		148,123
	Wright Medical Group NV *	1,712		46,601
	Zimmer Biomet Holdings, Inc.	2,095		217,293
				14,911,470
Health Care Providers & Services — 3.0%
	Acadia Healthcare Co., Inc. *@	2,540		65,303
	Amedisys, Inc. *	980		114,768
	AmerisourceBergen Corp.	6,392		475,565
	AMN Healthcare Services, Inc. *	2,000		113,320
	Anthem, Inc.	5,574		1,463,900
	BioTelemetry, Inc. *	724		43,237
	Cardinal Health, Inc.	10,263		457,730
	Centene Corp. *	3,639		419,577
	Chemed Corp.	623		176,483
	Cigna Corp.	13,122		2,492,130
	CVS Health Corp.	31,695		2,076,656
	DaVita, Inc. *	3,579		184,175
	Encompass Health Corp.	3,958		244,209
	Ensign Group, Inc. (The)	500		19,395
	HCA Holdings, Inc.	9,284		1,155,394
	HealthEquity, Inc. *	1,189		70,924
	Henry Schein, Inc. *	4,568		358,679
	Humana, Inc.	4,311		1,235,015
	Laboratory Corp. of America Holdings *	2,158		272,685

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Health Care Providers & Services (Continued)
	LHC Group, Inc. *	200	$	18,776
	McKesson Corp.	6,526		720,927
	MEDNAX, Inc. *	2,300		75,900
	Molina Healthcare, Inc. *	939		109,131
	Patterson Cos., Inc. @	2,215		43,547
	Premier, Inc., Class A *	1,155		43,139
	Quest Diagnostics, Inc.	3,540		294,776
	Select Medical Holdings Corp. *	2,804		43,041
	Tenet Healthcare Corp. *	1,820		31,195
	UnitedHealth Group, Inc.	28,864		7,190,600
	Universal Health Services, Inc., Class B	2,755		321,123
	WellCare Health Plans, Inc. *	936		220,980
				20,552,280
Health Care Technology — 0.1%
	athenahealth, Inc. *	1,077		142,089
	Cerner Corp. *	9,214		483,182
	Evolent Health, Inc., Class A *	1,913		38,164
	HMS Holdings Corp. *	1,220		34,319
	Medidata Solutions, Inc. *	618		41,665
	Omnicell, Inc. *	700		42,868
	Teladoc Health, Inc. *@	659		32,667
	Veeva Systems, Inc., Class A *	1,900		169,708
				984,662
Hotels, Restaurants & Leisure — 2.3%
	Aramark	9,125		264,351
	Carnival Corp.	8,022		395,485
	Cheesecake Factory, Inc. (The)	1,877		81,668
	Chipotle Mexican Grill, Inc. *	475		205,100
	Choice Hotels International, Inc.	1,000		71,580
	Churchill Downs, Inc.	150		36,591
	Cracker Barrel Old Country Store, Inc. @	1,060		169,452
	Darden Restaurants, Inc.	3,965		395,945
	Dave & Buster's Entertainment, Inc.	100		4,456
	Domino's Pizza, Inc.	1,295		321,147
	Dunkin' Brands Group, Inc.	2,994		191,975
	Eldorado Resorts, Inc. *@	1,074		38,890
	Extended Stay America, Inc.	4,450		68,975
	Hilton Grand Vacations, Inc. *	3,233		85,319
	Hilton Worldwide Holdings, Inc.	8,738		627,388
	Hyatt Hotels Corp., Class A	420		28,392
	International Game Technology PLC @	1,437		21,023
	Jack in the Box, Inc.	752		58,378
	Las Vegas Sands Corp.	15,505		807,035
	Marriott International, Inc., Class A	11,320		1,228,899
	Marriott Vacations Worldwide Corp.	1,225		86,375
	McDonald's Corp.	23,524		4,177,157
	MGM Resorts International	9,774		237,117
	Norwegian Cruise Line Holdings Ltd. *	4,996		211,780
	Penn National Gaming, Inc. *	1,552		29,224
	Planet Fitness, Inc. Class A *	2,043		109,546
	Red Rock Resorts, Inc., Class A	2,662		54,065
	Royal Caribbean Cruises Ltd.	3,090		302,171
	SeaWorld Entertainment, Inc. *	965		21,317
	Six Flags Entertainment Corp. @	2,452		136,405
	Starbucks Corp.	56,582		3,643,881
	Texas Roadhouse, Inc.	1,857		110,863
	Vail Resorts, Inc.	1,332		280,812
	Wendy's Co. (The)	7,777		121,399
	Wyndham Hotels & Resorts, Inc.	3,674		166,689
	Wyndham Worldwide Corp.	4,574		163,932
	Wynn Resorts Ltd.	2,638		260,925
	Yum! Brands, Inc.	9,738		895,117
				16,110,824
Household Durables — 0.3%
	DR Horton, Inc.	7,540		261,336
	Garmin Ltd.	2,389		151,272
	Helen of Troy Ltd. *	818		107,305
	Leggett & Platt, Inc.	4,900		175,616
	Lennar Corp., Class A	3,817		149,436
	Lennar Corp.,B Shares	72		2,256
	Meritage Homes Corp. *	900		33,048
	Mohawk Industries, Inc. *	1,266		148,071
	Newell Brands, Inc. @	3,579		66,534
	NVR, Inc. *	159		387,481
	PulteGroup, Inc.	5,849		152,016
	Tempur Sealy International, Inc. *@	1,941		80,357
	Toll Brothers, Inc.	2,101		69,186
	Whirlpool Corp.	2,346		250,717
				2,034,631
Household Products — 1.7%
	Church & Dwight Co., Inc.	7,943		522,332
	Clorox Co. (The)	5,655		871,662
	Colgate-Palmolive Co.	24,981		1,486,869
	Energizer Holdings, Inc.	2,587		116,803
	Kimberly-Clark Corp.	12,102		1,378,902
	Procter & Gamble Co. (The)	77,190		7,095,305
	Spectrum Brands Holdings, Inc.	1,392		58,812
	WD-40 Co. @	286		52,412
				11,583,097
Independent Power Producers & Energy Traders — 0.1%
	AES Corp.	23,347		337,598
	Clearway Energy, Inc., Class A	475		8,037
	Clearway Energy, Inc., Class C	2,875		49,594
	NRG Energy, Inc.	11,937		472,705
	Ormat Technologies, Inc.	441		23,064
	Vistra Energy Corp. *	4,752		108,773
				999,771
Industrial Conglomerates — 1.4%
	3M Co.	26,230		4,997,864
	Carlisle Cos., Inc.	1,544		155,203
	General Electric Co.	67,162		508,416
	Honeywell International, Inc.	28,340		3,744,281
	Roper Technologies, Inc.	1,844		491,463
				9,897,227
Insurance — 1.8%
	Aflac, Inc.	16,518		752,560
	Alleghany Corp.	225		140,247
	Allstate Corp. (The)	6,782		560,397
	American Equity Investment Life Holding Co.	2,360		65,938
	American Financial Group, Inc.	1,190		107,731
	American International Group, Inc.	8,541		336,601
	American National Insurance Co.	117		14,887
	Aon PLC	7,576		1,101,247
	Arch Capital Group Ltd. *	3,648		97,475
	Arthur J. Gallagher & Co.	3,802		280,207
	Aspen Insurance Holdings Ltd.	1,350		56,687
	Assurant, Inc.	1,143		102,230
	Assured Guaranty Ltd.	2,536		97,078

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Insurance (Continued)
	Athene Holding Ltd., Class A *	2,509	$	99,933
	Axis Capital Holdings Ltd.	1,600		82,624
	Brighthouse Financial, Inc. *	1,815		55,321
	Brown & Brown, Inc.	5,611		154,639
	Chubb Ltd.	5,166		667,344
	Cincinnati Financial Corp.	1,256		97,240
	CNO Financial Group, Inc.	5,300		78,864
	Enstar Group Ltd. *	300		50,271
	Erie Indemnity Co., Class A	830		110,647
	Everest Re Group Ltd.	556		121,075
	Fidelity National Financial, Inc.	3,562		111,989
	First American Financial Corp.	2,790		124,546
	Genworth Financial, Inc., Class A *	12,668		59,033
	Hanover Insurance Group, Inc. (The)	1,146		133,818
	Hartford Financial Services Group, Inc.	8,847		393,249
	Kemper Corp.	1,200		79,656
	Lincoln National Corp.	1,140		58,493
	Loews Corp.	3,240		147,485
	Markel Corp. *	100		103,805
	Marsh & McLennan Cos., Inc.	19,043		1,518,679
	MBIA, Inc. *	3,900		34,788
	Mercury General Corp.	800		41,368
	MetLife, Inc.	10,921		448,416
	National General Holdings Corp.	1,173		28,398
	Old Republic International Corp.	4,650		95,651
	Primerica, Inc.	1,400		136,794
	Principal Financial Group, Inc.	6,204		274,031
	ProAssurance Corp.	1,193		48,388
	Progressive Corp. (The)	14,182		855,600
	Prudential Financial, Inc.	5,458		445,100
	Reinsurance Group of America, Inc.	777		108,959
	RenaissanceRe Holdings Ltd.	883		118,057
	RLI Corp.	1,000		68,990
	Selective Insurance Group, Inc.	1,695		103,293
	Torchmark Corp.	1,112		82,877
	Travelers Companies, Inc. (The)	8,738		1,046,376
	Unum Group	2,795		82,117
	White Mountains Insurance Group Ltd.	84		72,046
	Willis Towers Watson PLC	1,133		172,057
	WR Berkley Corp.	2,350		173,689
				12,398,991
Interactive Media & Services — 3.3%
	Alphabet, Inc., Class A *	5,977		6,245,726
	Alphabet, Inc., Class C *	6,240		6,462,206
	Facebook, Inc., Class A *	72,531		9,508,089
	IAC/InterActiveCorp *	1,298		237,586
	Match Group, Inc. @	1,404		60,049
	Snap, Inc., Class A *@	3,870		21,324
	TripAdvisor, Inc. *	2,215		119,477
	Twitter, Inc. *	8,301		238,571
	Yelp, Inc. *	1,443		50,491
	Zillow Group, Inc., Class A *@	436		13,703
	Zillow Group, Inc., Class C *@	1,985		62,686
				23,019,908
Internet & Catalog Retail — 4.2%
	Amazon.com, Inc. *	16,694		25,073,887
	Booking Holdings, Inc. *	1,550		2,669,751
	eBay, Inc. *	29,427		826,016
	Etsy, Inc. *	1,722		81,916
	Expedia Group, Inc.	2,480		279,372
	GrubHub, Inc. *@	1,212		93,094
	Liberty Expedia Holdings, Inc., Class A *	1,430		55,927
	Qurate Retail, Inc. *	13,550		264,496
	Stamps.com, Inc. *	493		76,731
	Wayfair, Inc., Class A *@	1,168		105,213
				29,526,403
IT Services — 5.9%
	Accenture PLC, Class A	28,710		4,048,397
	Akamai Technologies, Inc. *	3,829		233,875
	Alliance Data Systems Corp.	2,466		370,097
	Amdocs Ltd.	2,698		158,049
	Automatic Data Processing, Inc.	20,025		2,625,678
	Black Knight, Inc. *	3,517		158,476
	Booz Allen Hamilton Holding Corp.	6,462		291,242
	Broadridge Financial Solutions, Inc.	5,758		554,207
	CACI International, Inc., Class A *	756		108,887
	Cognizant Technology Solutions Corp., Class A	17,266		1,096,046
	Conduent, Inc. *	4,206		44,710
	CoreLogic, Inc. *	2,907		97,152
	DXC Technology Co.	6,204		329,867
	EPAM Systems, Inc. *	1,205		139,792
	Euronet Worldwide, Inc. *	1,435		146,915
	Fidelity National Information Services, Inc.	6,600		676,830
	First Data Corp., Class A *	7,160		121,076
	Fiserv, Inc. *	18,800		1,381,612
	FleetCor Technologies, Inc. *	2,630		488,444
	Gartner, Inc., Class A *	2,233		285,467
	Genpact Ltd.	4,492		121,239
	Global Payments, Inc.	3,138		323,622
	GoDaddy, Inc., Class A *	4,882		320,357
	International Business Machines Corp.	40,357		4,587,380
	Jack Henry & Associates, Inc.	3,100		392,212
	Leidos Holdings, Inc.	2,174		114,613
	Mantech International Corp., Class A	400		20,918
	MasterCard, Inc., Class A	41,347		7,800,112
	MAXIMUS, Inc.	2,204		143,458
	Okta, Inc. *	1,243		79,303
	Paychex, Inc.	13,296		866,234
	PayPal Holdings, Inc. *	24,305		2,043,807
	Perspecta, Inc.	2,110		36,334
	Sabre Corp.	8,718		188,657
	Science Applications International Corp.	1,571		100,073
	Square, Inc., Class A *	3,167		177,637
	Total System Services, Inc.	5,935		482,456
	Twilio, Inc., Class A *@	609		54,384
	VeriSign, Inc. *	2,830		419,661
	Visa, Inc., Class A	65,976		8,704,873
	Western Union Co. (The)	14,812		252,693
	WEX, Inc. *	1,026		143,702
	Worldpay, Inc. *	3,720		284,320
				41,014,864
Leisure Equipment & Products — 0.1%
	Brunswick Corp.	2,766		128,481
	Hasbro, Inc.	4,346		353,112
	Mattel, Inc. *@	6,202		61,958
	Polaris Industries, Inc.	2,893		221,835
				765,386
Life Sciences Tools & Services — 0.8%
	Agilent Technologies, Inc.	6,058		408,673
	Bio-Rad Laboratories, Inc., Class A *	548		127,257
	Bio-Techne Corp.	800		115,776
	Bruker Corp.	3,952		117,651
	Charles River Laboratories International, Inc. *	1,850		209,383
	Illumina, Inc. *	3,086		925,584

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Life Sciences Tools & Services (Continued)
	IQVIA Holdings, Inc. *	3,002	$	348,742
	Mettler-Toledo International, Inc. *	1,116		631,187
	PerkinElmer, Inc.	1,576		123,795
	PRA Health Sciences, Inc. *	1,513		139,135
	Syneos Health, Inc. *	927		36,477
	Thermo Fisher Scientific, Inc.	8,195		1,833,959
	Waters Corp. *	2,267		427,670
				5,445,289
Machinery— 2.1%
	AGCO Corp.	1,297		72,204
	Albany International Corp., Class A	577		36,022
	Allison Transmission Holdings, Inc.	6,306		276,896
	Barnes Group, Inc.	1,200		64,344
	Caterpillar, Inc.	22,217		2,823,114
	Colfax Corp. *	1,602		33,482
	Crane Co.	1,115		80,481
	Cummins, Inc.	4,895		654,168
	Deere & Co.	11,959		1,783,924
	Donaldson Co., Inc.	5,304		230,141
	Dover Corp.	4,377		310,548
	Flowserve Corp.	2,584		98,244
	Fortive Corp.	6,840		462,794
	Gardner Denver Holdings, Inc. *	600		12,270
	Graco, Inc.	8,169		341,873
	Hillenbrand, Inc.	1,890		71,688
	IDEX Corp.	2,054		259,338
	Illinois Tool Works, Inc.	14,068		1,782,275
	Ingersoll-Rand PLC	7,939		724,275
	ITT, Inc.	2,957		142,734
	John Bean Technologies Corp.	1,192		85,598
	Kennametal, Inc.	2,100		69,888
	Lincoln Electric Holdings, Inc.	1,791		141,220
	Middleby Corp. *	1,500		154,095
	Navistar International Corp. *	302		7,837
	Nordson Corp.	2,147		256,244
	Oshkosh Corp.	2,000		122,620
	PACCAR, Inc.	11,883		678,995
	Parker Hannifin Corp.	4,040		602,526
	Pentair PLC	3,472		131,172
	Proto Labs, Inc. *	473		53,350
	RBC Bearings, Inc. *	421		55,193
	Rexnord Corp. *	3,100		71,145
	Snap-On, Inc.	1,800		261,522
	Stanley Black & Decker, Inc.	2,738		327,848
	Terex Corp.	1,786		49,240
	Timken Co., (The)	1,644		61,354
	Toro Co. (The)	4,654		260,065
	Trinity Industries, Inc.	2,646		54,481
	WABCO Holdings, Inc. *	2,200		236,148
	Wabtec Corp. @	1,642		115,350
	Watts Water Technologies, Inc., Class A	400		25,812
	Woodward, Inc.	1,254		93,160
	Xylem, Inc.	4,353		290,432
				14,466,110
Marine — 0.0%
	Kirby Corp. *	1,394		93,900
Media — 1.4%
	Altice USA, Inc., Class A @	3,553		58,696
	AMC Networks, Inc., Class A *@	2,046		112,285
	Cable One, Inc.	211		173,041
	CBS Corp., Class A	1,116		48,937
	CBS Corp., Class B	15,429		674,556
	Charter Communications, Inc., Class A *	4,850		1,382,105
	Comcast Corp., Class A	142,048		4,836,734
	Discovery, Inc., Class A *@	4,311		106,654
	Discovery, Inc., Class C *	6,303		145,473
	DISH Network Corp., Class A *	6,700		167,299
	GCI Liberty, Inc., Class A *@	1,244		51,203
	Interpublic Group of Cos., Inc. (The)	14,910		307,593
	John Wiley & Sons, Inc., Class A	1,300		61,061
	Liberty Broadband Corp., Class A *	315		22,620
	Liberty Broadband Corp., Class C *	1,507		108,549
	Liberty Latin America Ltd. *	3,298		48,052
	Liberty SiriusXM Group, Class A *	1,263		46,478
	Liberty SiriusXM Group, Class C *	1,178		43,562
	Meredith Corp. @	900		46,746
	New York Times Co. (The), Class A @	1,201		26,770
	News Corp., Class A	8,648		98,155
	News Corp., Class B	1,525		17,614
	Nexstar Media Group, Inc. @	900		70,776
	Omnicom Group, Inc.	10,945		801,612
	Sinclair Broadcast Group, Inc., Class A	2,200		57,948
	Sirius XM Holdings, Inc. @	48,887		279,145
	TEGNA, Inc.	6,935		75,383
	Tribune Media Co., Class A	685		31,085
				9,900,132
Metals & Mining — 0.3%
	Alcoa Corp. *	6,138		163,148
	Allegheny Technologies, Inc. *@	3,100		67,487
	Cleveland-Cliffs, Inc. *@	11,473		88,227
	Commercial Metals Co.	3,500		56,070
	Freeport-McMoRan, Inc.	58,344		601,527
	Newmont Mining Corp.	4,847		167,949
	Nucor Corp.	7,801		404,170
	Reliance Steel & Aluminum Co.	1,803		128,319
	Royal Gold, Inc.	1,115		95,500
	Southern Copper Corp.	2,789		85,817
	Steel Dynamics, Inc.	8,092		243,084
	United States Steel Corp.	4,320		78,797
	Worthington Industries, Inc.	1,249		43,515
				2,223,610
Multi-Utilities — 0.9%
	Ameren Corp.	6,985		455,632
	Avista Corp.	1,575		66,906
	Black Hills Corp.	1,500		94,170
	Centerpoint Energy, Inc.	11,464		323,629
	CMS Energy Corp.	9,645		478,874
	Consolidated Edison, Inc.	7,627		583,160
	Dominion Resources, Inc.	19,684		1,406,619
	DTE Energy Co.	4,720		520,616
	MDU Resources Group, Inc.	5,125		122,180
	NiSource, Inc.	9,353		237,099
	NorthWestern Corp.	1,200		71,328
	Public Service Enterprise Group, Inc.	12,088		629,180
	SCANA Corp.	3,636		173,728
	Sempra Energy @	5,538		599,156
	Vectren Corp.	2,300		165,554
	WEC Energy Group, Inc.	7,624		528,038
				6,455,869

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Multiline Retail — 0.6%
	Dollar General Corp.	8,074	$	872,638
	Dollar Tree, Inc. *	8,281		747,940
	Kohl's Corp.	7,588		503,388
	Macy's, Inc.	13,498		401,971
	Nordstrom, Inc.	5,825		271,503
	Ollie's Bargain Outlet Holdings, Inc. *	1,239		82,406
	Target Corp.	18,804		1,242,756
				4,122,602
Oil, Gas & Consumable Fuels — 3.2%
	Anadarko Petroleum Corp.	15,443		677,021
	Antero Resources Corp. *	3,888		36,508
	Apache Corp.	12,235		321,169
	Cabot Oil & Gas Corp.	8,672		193,819
	Centennial Resource Development, Inc., Class A *@	2,672		29,445
	Cheniere Energy, Inc. *	6,986		413,501
	Chesapeake Energy Corp. *@	29,883		62,754
	Chevron Corp.	26,199		2,850,189
	Cimarex Energy Co.	3,358		207,021
	CNX Resources Corp. *	6,400		73,088
	Concho Resources, Inc. *	3,740		384,435
	ConocoPhillips	22,670		1,413,474
	Continental Resources, Inc. *	3,516		141,308
	CVR Energy, Inc.	600		20,688
	Delek US Holdings, Inc.	3,459		112,452
	Devon Energy Corp.	7,592		171,124
	Diamondback Energy, Inc. @	4,210		390,267
	EnLink Midstream LLC @	1,100		10,439
	EOG Resources, Inc.	16,653		1,452,308
	EQT Corp. @	5,981		112,981
	Equitrans Midstream Corp. *	4,784		95,776
	Exxon Mobil Corp.	90,407		6,164,853
	Hess Corp.	3,951		160,016
	HollyFrontier Corp.	4,361		222,934
	Kinder Morgan, Inc.	32,467		499,342
	Kosmos Energy Ltd. *	3,400		13,838
	Marathon Oil Corp.	16,317		233,986
	Marathon Petroleum Corp.	19,350		1,141,843
	Murphy Oil Corp.	3,038		71,059
	Newfield Exploration Co. *	7,469		109,496
	Noble Energy, Inc.	10,855		203,640
	Occidental Petroleum Corp.	20,436		1,254,362
	ONEOK, Inc.	7,567		408,240
	Parsley Energy, Inc., Class A *	3,133		50,065
	PBF Energy, Inc., Class A	3,569		116,599
	PDC Energy, Inc. *	1,690		50,294
	Peabody Energy Corp.	3,822		116,495
	Phillips 66	7,014		604,256
	Pioneer Natural Resources Co.	3,865		508,325
	Range Resources Corp. @	6,847		65,526
	Southwestern Energy Co. *@	10,263		34,997
	Targa Resources Corp.	3,111		112,058
	Valero Energy Corp.	9,741		730,283
	Whiting Petroleum Corp. *@	2,511		56,975
	Williams Cos., Inc. (The)	17,691		390,087
	WPX Energy, Inc. *	8,368		94,977
				22,584,313
Paper & Forest Products — 0.0%
	Domtar Corp.	2,000		70,260
	Louisiana-Pacific Corp.	3,743		83,169
				153,429
Personal Products — 0.2%
	Edgewell Personal Care Co. *	1,061		39,628
	Estee Lauder Companies, Inc. (The), Class A	8,734		1,136,294
	Herbalife Nutriation Ltd. *	5,860		345,447
	Nu Skin Enterprises, Inc., Class A	1,688		103,525
	USANA Health Sciences, Inc. *	171		20,132
				1,645,026
Pharmaceuticals — 4.9%
	Allergan PLC	4,473		597,861
	Amneal Pharmaceuticals, Inc. *@	1,887		25,531
	Bristol-Myers Squibb Co.	45,196		2,349,288
	Catalent, Inc. *	5,834		181,904
	Eli Lilly & Co.	29,084		3,365,601
	Horizon Pharma PLC *	1,910		37,321
	Jazz Pharmaceuticals PLC *	1,375		170,445
	Johnson & Johnson	84,709		10,931,696
	Merck & Co., Inc.	83,169		6,354,943
	Mylan NV *	9,849		269,863
	Nektar Therapeutics *	1,398		45,952
	Perrigo Co. PLC	1,942		75,253
	Pfizer, Inc.	183,764		8,021,299
	Taro Pharmaceutical Industries Ltd.	475		40,204
	Zoetis, Inc.	22,005		1,882,308
				34,349,469
Professional Services — 0.4%
	Asgn, Inc. *	1,277		69,596
	CoStar Group, Inc. *	438		147,755
	Dun & Bradstreet Corp.	1,200		171,288
	Equifax, Inc.	3,810		354,825
	Exponent, Inc.	2,058		104,361
	FTI Consulting, Inc. *	662		44,116
	Insperity, Inc.	1,714		160,019
	Korn/Ferry International	800		31,632
	Manpowergroup, Inc.	2,190		141,912
	Nielsen Holdings PLC	8,630		201,338
	Robert Half International, Inc.	5,675		324,610
	TransUnion	4,425		251,340
	TriNet Group, Inc. *	1,165		48,872
	Verisk Analytics, Inc., Class A *	6,676		727,951
				2,779,615
Real Estate Investment Trusts (REITs) — 0.0%
	CorePoint Lodging, Inc.	307		3,761
Real Estate Management & Development — 0.1%
	Alexander & Baldwin, Inc.	1,806		33,194
	CBRE Group, Inc., Class A *	9,107		364,644
	Howard Hughes Corp. (The) *	803		78,389
	Jones Lang LaSalle, Inc.	1,173		148,502
	Kennedy-Wilson Holdings, Inc.	1,369		24,875
	Newmark Group, Inc.	3,913		31,382
	Realogy Holdings Corp.	1,879		27,584
				708,570
Road & Rail — 1.2%
	AMERCO	336		110,245
	Avis Budget Group, Inc. *	4,144		93,157
	CSX Corp.	26,289		1,633,336
	Genesee & Wyoming, Inc., Class A *	1,301		96,300
	JB Hunt Transport Services, Inc.	4,393		408,725
	Kansas City Southern	2,591		247,311
	Knight-Swift Transportation Holdings, Inc. @	2,249		56,382
	Landstar System, Inc.	1,847		176,703
	Norfolk Southern Corp.	8,876		1,327,317

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Road & Rail (Continued)
	Old Dominion Freight Line, Inc.	2,371	$	292,795
	Ryder System, Inc.	2,122		102,174
	Schneider National, Inc., Class B	1,175		21,937
	Union Pacific Corp.	27,687		3,827,174
	Werner Enterprises, Inc.	1,200		35,448
				8,429,004
Semiconductors & Semiconductor Equipment — 4.0%
	Advanced Micro Devices, Inc. *@	27,528		508,167
	Analog Devices, Inc.	7,063		606,217
	Applied Materials, Inc.	40,297		1,319,324
	Broadcom, Inc.	9,221		2,344,716
	Cabot Microelectronics Corp.	836		79,713
	Cirrus Logic, Inc. *	1,900		63,042
	Cree, Inc. *@	3,245		138,805
	Cypress Semiconductor Corp.	9,792		124,554
	Entegris, Inc.	4,137		115,402
	First Solar, Inc. *	1,402		59,522
	Integrated Device Technology, Inc. *	3,400		164,662
	Intel Corp.	167,253		7,849,183
	Kla-Tencor Corp.	6,527		584,101
	Lam Research Corp.	6,001		817,156
	Marvell Technology Group Ltd.	6,428		104,069
	Maxim Integrated Products, Inc.	10,140		515,619
	Microchip Technology, Inc. @	6,823		490,710
	Micron Technology, Inc. *	42,958		1,363,057
	MKS Instruments, Inc.	1,696		109,579
	Monolithic Power Systems, Inc.	706		82,073
	NVIDIA Corp.	21,805		2,910,968
	ON Semiconductor Corp. *	14,830		244,843
	Qorvo, Inc. *	1,562		94,860
	QUALCOMM, Inc.	22,074		1,256,231
	Semtech Corp. *	600		27,522
	Silicon Laboratories, Inc. *	600		47,286
	Skyworks Solutions, Inc.	7,317		490,385
	Teradyne, Inc.	6,144		192,799
	Texas Instruments, Inc.	43,303		4,092,134
	Universal Display Corp.	786		73,546
	Versum Materials, Inc.	3,951		109,522
	Xilinx, Inc.	7,467		635,964
				27,615,731
Software — 6.5%
	ACI Worldwide, Inc. *	2,645		73,187
	Adobe, Inc. *	14,839		3,357,175
	Alarm.com Holdings, Inc. *	373		19,348
	ANSYS, Inc. *	1,811		258,864
	Aspen Technology, Inc. *	2,399		197,150
	Atlassian Corp. PLC, Class A *	854		75,989
	Autodesk, Inc. *	5,545		713,142
	Blackbaud, Inc.	1,688		106,175
	Bottomline Technologies de, Inc. *	900		43,200
	Cadence Design Systems, Inc. *	10,300		447,844
	CDK Global, Inc.	3,619		173,278
	Citrix Systems, Inc.	5,699		583,920
	Commvault Systems, Inc. *	809		47,804
	Ellie Mae, Inc. *@	328		20,608
	Envestnet, Inc. *	1,085		53,371
	Fair Isaac Corp. *	1,150		215,050
	Fortinet, Inc. *	2,910		204,951
	Guidewire Software, Inc. *	801		64,264
	HubSpot, Inc. *	757		95,178
	Intuit, Inc.	11,110		2,187,004
	j2 Global, Inc.	1,413		98,034
	LogMeIn, Inc.	1,043		85,078
	Manhattan Associates, Inc. *	3,523		149,270
	Microsoft Corp.	274,011		27,831,297
	New Relic, Inc. *	369		29,878
	Nuance Communications, Inc. *	4,400		58,212
	Nutanix, Inc., Class A *	954		39,677
	Oracle Corp.	75,298		3,399,705
	Palo Alto Networks, Inc. *	795		149,738
	Paycom Software, Inc. *@	2,140		262,043
	Paylocity Holding Corp. *	300		18,063
	Pegasystems, Inc.	255		12,197
	Proofpoint, Inc. *	470		39,391
	PTC, Inc. *	1,937		160,577
	Qualys, Inc. *	503		37,594
	RealPage, Inc. *	1,381		66,550
	Red Hat, Inc. *	5,521		969,708
	RingCentral, Inc., Class A *	628		51,772
	Salesforce.com, Inc. *	6,591		902,769
	ServiceNow, Inc. *	1,837		327,078
	Splunk, Inc. *	1,731		181,495
	SS&C Technologies Holdings, Inc.	3,681		166,050
	Symantec Corp.	6,790		128,297
	Synopsys, Inc. *	2,448		206,220
	Tableau Software, Inc., Class A *	700		84,000
	Teradata Corp. *	3,627		139,132
	TiVo Corp.	1,378		12,967
	Trade Desk Inc/The *@	483		56,057
	Tyler Technologies, Inc. *	749		139,179
	Ultimate Software Group, Inc. *	338		82,766
	Verint Systems, Inc. *	1,038		43,918
	VMware, Inc., Class A	1,425		195,410
	Workday, Inc., Class A *	996		159,041
	Zendesk, Inc. *	1,651		96,369
				45,317,034
Specialty Retail — 3.3%
	Aaron's, Inc.	2,250		94,612
	Advance Auto Parts, Inc.	1,480		233,041
	American Eagle Outfitters, Inc.	7,250		140,142
	AutoNation, Inc. *@	2,137		76,291
	AutoZone, Inc. *	902		756,183
	Best Buy Co., Inc.	10,525		557,404
	Burlington Stores, Inc. *	2,632		428,147
	Carmax, Inc. *	6,646		416,904
	Children's Place, Inc. (The) @	811		73,063
	Dick's Sporting Goods, Inc. @	3,200		99,840
	Five Below, Inc. *	2,400		245,568
	Floor & Decor Holdings, Inc., Class A *@	413		10,697
	Foot Locker, Inc.	4,509		239,879
	Gap, Inc. (The)	11,172		287,791
	Home Depot, Inc. (The)	50,815		8,731,033
	L Brands, Inc.	6,819		175,044
	Lowe's Cos., Inc.	36,471		3,368,461
	Michaels Companies, Inc. (The) *@	1,873		25,360
	Monro, Inc.	913		62,769
	Murphy USA, Inc. *	1,648		126,303
	O'Reilly Automotive, Inc. *	4,146		1,427,592
	Penske Auto Group, Inc. @	1,318		53,142
	RH *	585		70,095

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Specialty Retail (Continued)
	Ross Stores, Inc.	16,966	$	1,411,571
	Sally Beauty Holdings, Inc. *	2,595		44,245
	Tiffany & Co.	3,557		286,374
	TJX Cos., Inc.	55,966		2,503,919
	Tractor Supply Co.	5,837		487,039
	Ulta Salon Cosmetics & Fragrance, Inc. *	2,100		514,164
	Urban Outfitters, Inc. *	3,400		112,880
	Williams-Sonoma, Inc. @	3,040		153,368
				23,212,921
Textiles, Apparel & Luxury Goods — 0.9%
	Carter's, Inc.	2,255		184,053
	Columbia Sportswear Co.	858		72,149
	Deckers Outdoor Corp. *	977		125,007
	Hanesbrands, Inc. @	17,125		214,576
	Lululemon Athletica, Inc. *	3,400		413,474
	Michael Kors Holdings Ltd. *	6,273		237,872
	NIKE, Inc., Class B	47,852		3,547,748
	PVH Corp.	1,316		122,322
	Ralph Lauren Corp.	1,100		113,806
	Skechers U.S.A., Inc., Class A *	3,300		75,537
	Steven Madden Ltd.	2,346		70,990
	Tapestry, Inc.	7,810		263,588
	Under Armour, Inc., Class A *@	2,760		48,769
	Under Armour, Inc., Class C *@	5,438		87,933
	VF Corp.	11,674		832,823
	Wolverine World Wide, Inc.	2,452		78,194
				6,488,841
Thrifts & Mortgage Finance — 0.0%
	Essent Group Ltd. *	2,110		72,120
	LendingTree, Inc. *@	202		44,353
	New York Community Bancorp, Inc. @	9,133		85,941
	TFS Financial Corp.	1,093		17,630
	Washington Federal, Inc.	1,476		39,424
				259,468
Tobacco — 1.1%
	Altria Group, Inc.	84,691		4,182,889
	Philip Morris International, Inc.	46,340		3,093,658
				7,276,547
Trading Companies & Distributors — 0.4%
	Air Lease Corp.	3,438		103,862
	Applied Industrial Technologies, Inc.	1,164		62,786
	Fastenal Co.	11,794		616,708
	GATX Corp. @	1,100		77,891
	HD Supply Holdings, Inc. *	5,845		219,305
	MSC Industrial Direct Co., Class A	1,509		116,072
	SiteOne Landscape Supply, Inc. *@	1,507		83,292
	Triton International Ltd.	773		24,017
	United Rentals, Inc. *	4,075		417,810
	Univar, Inc. *	2,106		37,361
	Watsco, Inc.	1,100		153,054
	WESCO International, Inc. *	1,300		62,400
	WW Grainger, Inc.	2,276		642,651
				2,617,209
Transportation Infrastructure — 0.0%
	Macquarie Infrastructure Corp.	1,285		46,980
Water Utilities — 0.1%
	American States Water Co.	580		38,883
	American Water Works Co., Inc.	4,798		435,515
	Aqua America, Inc.	4,781		163,462
	California Water Service Group	1,075		51,235
				689,095
Wireless Telecommunication Services — 0.1%
	Shenandoah Telecommunications Co.	700		30,975
	Sprint Corp. *	15,015		87,387
	T-Mobile US, Inc. *	11,985		762,366
	Telephone & Data Systems, Inc.	2,613		85,027
	United States Cellular Corp. *	400		20,788
				986,543
	TOTAL COMMON STOCKS        (Identified Cost $319,169,872)			667,328,583
Mutual Funds — 3.7%
Other — 3.7%
	DFA U.S. Micro Cap Portfolio	1,406,441		26,005,081
	TOTAL MUTUAL FUNDS       (Identified Cost $17,953,982)			26,005,081
SHORT-TERM INVESTMENTS — 0.4%
Investment Company — 0.3%
	State Street Institutional U.S. Government Money Market Fund, 2.350%	2,443,815		2,443,815
Collateral For Securities On Loan — 0.1%
	State Street Navigator Securities Lending Government Money Market Portfolio, 2.160%	440,686		440,686
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $2,884,501)			2,884,501
Total Investments — 100.0%        (Identified Cost $340,008,355)				696,218,165
	Liabilities, Less Cash and Other Assets — 0.0%			(140,542	)
Net Assets — 100.0%			$	696,077,623

†	See Note 1
*	Non-income producing security
@	A portion or all of the security were held on loan. As of December 31,2018, the market value of the securities on loan was $8,842,553.

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 99.5%
Aerospace & Defense — 1.8%
	AAR Corp.	6,733	$	251,410
	Aerojet Rocketdyne Holdings, Inc. *	23,951		843,794
	Aerovironment, Inc. *	5,690		386,635
	Arotech Corp. *	9,457		24,777
	Astronics Corp. *	4,622		140,740
	Astronics Corp. Class B *	693		21,074
	Axon Enterprise, Inc. *	16,262		711,462
	BWX Technologies, Inc.	3,185		121,763
	CPI Aerostructures, Inc. *	1,342		8,549
	Cubic Corp.	6,175		331,845
	Curtiss-Wright Corp.	2,920		298,190
	Ducommun, Inc. *	3,610		131,115
	Engility Holdings, Inc. *	5,031		143,182
	Esterline Technologies Corp. *	7,884		957,512
	HEXCEL Corp.	3,763		215,770
	Innovative Solutions & Support, Inc. *	3,248		7,162
	KEYW Holding Corp. (The) *	5,770		38,601
	Kratos Defense & Security Solutions, Inc. *@	17,754		250,154
	Mercury Systems, Inc. *	8,267		390,946
	Moog, Inc., Class A	8,996		697,010
	National Presto Industries, Inc.	1,177		137,615
	SIFCO Industries, Inc. *	1,187		4,095
	Sparton Corp. *	2,587		47,058
	Teledyne Technologies, Inc. *	675		139,772
	Triumph Group, Inc. @	6,027		69,311
	Vectrus, Inc. *	3,560		76,825
	Wesco Aircraft Holdings, Inc. *	12,061		95,282
				6,541,649
Air Freight & Logistics — 0.4%
	Air Transport Services Group, Inc. *	16,445		375,110
	Atlas Air Worldwide Holdings, Inc. *	6,536		275,754
	Echo Global Logistics, Inc. *	5,962		121,208
	Forward Air Corp.	6,951		381,262
	HUB Group, Inc., Class A *	10,333		383,044
	Radiant Logistics, Inc. *	9,354		39,755
				1,576,133
Airlines — 0.5%
	Allegiant Travel Co.	3,988		399,677
	Hawaiian Holdings, Inc.	12,656		334,245
	JetBlue Airways Corp. *	17,878		287,121
	Skywest, Inc.	12,976		577,043
	Spirit Airlines, Inc. *	3,315		192,005
				1,790,091
Auto Components — 1.6%
	American Axle & Manufacturing Holdings, Inc. *	32,181		357,209
	Cooper Tire & Rubber Co.	13,956		451,198
	Cooper-Standard Holdings, Inc. *	4,019		249,660
	Dana, Inc.	32,214		439,077
	Delphi Technologies PLC	2,052		29,385
	Dorman Products, Inc. *	8,380		754,368
	Fox Factory Holding Corp. *	8,405		494,802
	Gentex Corp.	10,729		216,833
	Gentherm, Inc. *	9,644		385,567
	Goodyear Tire & Rubber Co. (The)	12,734		259,901
	Horizon Global Corp. *@	3,431		4,906
	LCI Industries	6,043		403,672
	Modine Manufacturing Co. *	11,514		124,466
	Motorcar Parts of America, Inc. *@	6,077		101,121
	Shiloh Industries, Inc. *	7,004		40,833
	Standard Motor Products, Inc.	7,260		351,602
	Stoneridge, Inc. *	7,832		193,059
	Strattec Security Corp.	1,541		44,381
	Superior Industries International, Inc.	3,031		14,579
	Tenneco, Inc. Class A	10,923		299,181
	Tower International, Inc.	6,346		151,035
	Visteon Corp. *@	7,099		427,928
	VOXX International Corp. *	3,284		13,005
				5,807,768
Automobiles — 0.1%
	Thor Industries, Inc.	875		45,500
	Winnebago Industries, Inc.	10,123		245,078
				290,578
Beverages — 0.4%
	Boston Beer Co., Inc. (The), Class A *@	1,852		446,036
	Coca-Cola Bottling Co., Consolidated	1,354		240,172
	Craft Brew Alliance, Inc. *	6,018		86,118
	MGP Ingredients, Inc. @	5,206		297,002
	National Beverage Corp. @	4,756		341,338
	Primo Water Corp. *	5,815		81,468
				1,492,134
Biotechnology — 1.4%
	Achillion Pharmaceuticals, Inc. *	23,152		36,812
	Acorda Therapeutics, Inc. *	12,575		195,918
	Aduro Biotech, Inc. *	1,186		3,131
	Adverum Biotechnologies, Inc. *	8,282		26,088
	AgeX Therapeutics, Inc. *@	341		1,020
	Agios Pharmaceuticals, Inc. *@	1,978		91,206
	Alder Biopharmaceuticals, Inc. *@	11,560		118,490
	AMAG Pharmaceuticals, Inc. *	2,638		40,071
	Applied Genetic Technologies Corp. *	2,241		5,580
	Aptevo Therapeutics, Inc. *	11,461		14,555
	Aquinox Pharmaceuticals, Inc. *	1,970		4,255
	Aravive, Inc. *	1,937		6,818
	Ardelyx, Inc. *	10,642		19,049
	BioSpecifics Technologies Corp. *	2,311		140,047
	BioTime, Inc. *@	3,419		3,122
	Calithera Biosciences, Inc. *	3,632		14,564
	Cellular Biomedicine Group, Inc. *@	2,000		35,320
	Chimerix, Inc. *	13,027		33,479
	Concert Pharmaceuticals, Inc. *	4,026		50,526
	Corvus Pharmaceuticals, Inc. *@	1,065		3,909
	Emergent BioSolutions, Inc. *	9,812		581,655
	Enanta Pharmaceuticals, Inc. *	5,023		355,779
	Exact Sciences Corp. *@	1,434		90,485
	Exelixis, Inc. *	12,272		241,390
	Five Prime Therapeutics, Inc. *	4,603		42,808
	Infinity Pharmaceuticals, Inc. *@	17,874		21,091
	Intrexon Corp. *@	872		5,703
	Ionis Pharmaceuticals, Inc. *@	4,594		248,352
	Karyopharm Therapeutics, Inc. *@	2,354		22,057
	Kindred Biosciences, Inc. *	3,345		36,628
	Ligand Pharmaceuticals, Inc. *@	2,408		326,766
	MacroGenics, Inc. *	2,337		29,680
	Madrigal Pharmaceuticals, Inc. *@	101		11,385
	MEI Pharma, Inc. *	13,204		34,859
	Merrimack Pharmaceuticals, Inc. *@	4,336		16,737
	Minerva Neurosciences, Inc. *	5,077		34,219
	Miragen Therapeutics, Inc. *	3,286		9,957
	Mirati Therapeutics, Inc. *@	1,950		82,719
	Myriad Genetics, Inc. *@	19,349		562,475
	Neurocrine Biosciences, Inc. *	144		10,283
	Ophthotech Corp. *	6,730		8,076

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Biotechnology (Continued)
	OPKO Health, Inc. *@	23,063	$	69,420
	PDL BioPharma, Inc. *	18,262		52,960
	Pfenex, Inc. *	2,903		9,261
	Proteostasis Therapeutics, Inc. *@	1,871		6,062
	PTC Therapeutics, Inc. *	1,434		49,215
	Recro Pharma, Inc. *	2,713		19,262
	Repligen Corp. *@	5,344		281,843
	Retrophin, Inc. *	8,973		203,059
	Sage Therapeutics, Inc. *@	1,909		182,863
	Sarepta Therapeutics, Inc. *@	1,300		141,869
	Sierra Oncology, Inc. *	10,246		13,525
	Spectrum Pharmaceuticals, Inc. *@	4,922		43,067
	Stemline Therapeutics, Inc. *@	1,284		12,198
	Syndax Pharmaceuticals, Inc. *	6,974		31,034
	United Therapeutics Corp. *	796		86,684
	Verastem, Inc. *@	9,653		32,434
	Zafgen, Inc. *	3,913		19,369
				4,871,189
Building Products — 1.7%
	AAON, Inc.	14,109		494,662
	Advanced Drainage Systems, Inc.	15,597		378,227
	American Woodmark Corp. *	5,248		292,209
	Apogee Enterprises, Inc.	6,484		193,547
	Armstrong Flooring, Inc. *	7,252		85,864
	Armstrong World Industries, Inc.	11,660		678,729
	Builders FirstSource, Inc. *	24,352		265,680
	Continental Building Products, Inc. *	9,323		237,270
	CSW Industrials, Inc. *	1,329		64,257
	Gibraltar Industries, Inc. *	8,000		284,720
	Griffon Corp.	10,377		108,440
	Insteel Industries, Inc.	4,690		113,873
	Masonite International Corp. *	169		7,576
	NCI Building Systems, Inc. *	12,026		87,189
	Patrick Industries, Inc. *	5,679		168,155
	PGT Innovations, Inc. *	15,340		243,139
	Quanex Building Products Corp.	9,211		125,177
	Simpson Manufacturing Co., Inc.	12,600		682,038
	Trex Co., Inc. *	16,324		968,993
	Universal Forest Products, Inc.	16,500		428,340
				5,908,085
Capital Markets — 2.1%
	Affiliated Managers Group, Inc.	2,857		278,386
	Ares Management Corp., Class A @	1,225		21,780
	Artisan Partners Asset Management, Inc.,        Class A	15,118		334,259
	BGC Partners, Inc., Class A	58,742		303,696
	Blucora, Inc. *	10,400		277,056
	BrightSphere Investment Group PLC	5,801		61,955
	Cohen & Steers, Inc.	7,453		255,787
	Cowen Group, Inc., Class A *@	6,131		81,788
	Diamond Hill Investment Group, Inc.	739		110,444
	Donnelley Financial Solutions, Inc. *	7,095		99,543
	Eaton Vance Corp.	4,124		145,082
	Evercore, Inc., Class A	9,789		700,501
	Federated Investors, Inc., Class B	20,626		547,620
	Gain Capital Holdings, Inc. @	9,997		61,582
	GAMCO Investors, Inc., Class A	1,700		28,713
	Greenhill & Co., Inc. @	3,087		75,323
	Houlihan Lokey, Inc.	1,002		36,874
	Interactive Brokers Group, Inc., Class A	16,151		882,652
	Intl FCStone, Inc. *	3,859		141,162
	Invesco Ltd.	19,785		331,201
	Investment Technology Group, Inc.	8,509		257,312
	Janus Henderson Group PLC	16,584		343,620
	Ladenburg Thalmann Financial Services, Inc.	35,937		83,733
	LPL Financial Holdings, Inc.	4,719		288,236
	Manning & Napier, Inc. @	2,524		4,442
	Moelis & Co., Class A	3,839		131,985
	Morningstar, Inc.	1,068		117,309
	Oppenheimer Holdings, Inc., Class A	3,360		85,848
	Piper Jaffray Cos.	3,381		222,605
	PJT Partners, Inc., Class A	597		23,140
	Pzena Investment Management, Inc., Class A	4,481		38,761
	Safeguard Scientifics, Inc. *	5,542		47,772
	Silvercrest Asset Management Group, Inc.,        Class A	759		10,042
	Stifel Financial Corp.	12,616		522,555
	Virtu Financial, Inc. @	5,099		131,350
	Virtus Investment Partners, Inc.	1,970		156,477
	Waddell & Reed Financial, Inc., Class A @	3,742		67,655
	Westwood Holdings Group, Inc.	2,775		94,350
	WisdomTree Investments, Inc.	32,848		218,439
				7,621,035
Chemicals — 2.3%
	Advanced Emissions Solutions, Inc. @	2,266		23,906
	AdvanSix, Inc. *	7,340		178,656
	AgroFresh Solutions, Inc. *@	3,359		12,731
	American Vanguard Corp.	7,947		120,715
	Ashland Global Holdings, Inc.	2,893		205,287
	Balchem Corp.	7,418		581,200
	Cabot Corp.	9,527		409,089
	Chase Corp.	2,101		210,205
	Core Molding Technologies, Inc.	1,500		10,665
	Ferro Corp. *	25,241		395,779
	Flotek Industries, Inc. *@	6,893		7,513
	FutureFuel Corp.	10,473		166,102
	GCP Applied Technologies, Inc. *	2,256		55,385
	H.B. Fuller Co.	13,143		560,812
	Hawkins, Inc.	2,398		98,198
	Ingevity Corp. *	948		79,338
	Innophos Holdings, Inc.	5,400		132,462
	Innospec, Inc.	5,850		361,296
	Intrepid Potash, Inc. *	15,892		41,319
	Koppers Holdings, Inc. *	4,597		78,333
	Kraton Corp. *	6,776		147,988
	Kronos Worldwide, Inc.	10,857		125,073
	Minerals Technologies, Inc.	9,665		496,201
	NewMarket Corp.	218		89,836
	Northern Technologies International Corp.	800		23,672
	Olin Corp.	2,299		46,233
	Omnova Solutions, Inc. *	10,952		80,278
	Platform Specialty Products Corp. *	30,212		312,090
	PolyOne Corp.	21,572		616,959
	Quaker Chemical Corp.	3,387		601,904
	Rayonier Advanced Materials, Inc.	16,098		171,444
	RPM International, Inc.	2,594		152,475
	Schulman A, Inc. §	6,827		9,780
	Scotts Miracle-Gro Co. (The)	1,620		99,565

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Chemicals (Continued)
	Sensient Technologies Corp.	9,729	$	543,365
	Stepan Co.	3,991		295,334
	Trecora Resources *	5,488		42,806
	Tredegar Corp.	8,700		137,982
	Trinseo SA	8,507		389,450
	Tronox Ltd., Class A	12,458		96,923
	Valvoline, Inc.	3,829		74,091
	W.R. Grace & Co.	834		54,135
				8,336,575
Commercial Banks — 10.9%
	1st Source Corp.	7,264		293,030
	Access National Corp.	2,671		56,972
	Allegiance Bancshares, Inc. *	1,614		52,245
	American National Bankshares, Inc.	2,356		69,054
	Ameris Bancorp	12,420		393,341
	AmeriServ Financial, Inc.	4,400		17,732
	Arrow Financial Corp.	4,071		130,353
	Associated Banc-Corp.	41,516		821,602
	Atlantic Capital Bancshares, Inc. *	2,502		40,958
	Banc of California, Inc. @	8,558		113,907
	Bancfirst Corp.	9,063		452,244
	Bancorp, Inc. (The) *	15,832		126,023
	BancorpSouth Bank	24,168		631,752
	Bank of Hawaii Corp.	10,787		726,181
	Bank of Marin Bancorp	2,100		86,604
	Bank OZK	3,630		82,873
	BankUnited, Inc.	3,750		112,275
	Bankwell Financial Group, Inc.	326		9,359
	Banner Corp.	6,855		366,605
	Bar Harbor Bankshares	2,489		55,828
	BCB Bancorp, Inc.	878		9,193
	Berkshire Hills Bancorp, Inc.	6,936		187,064
	Blue Hills Bancorp, Inc.	3,496		74,605
	BOK Financial Corp.	2,528		185,378
	Boston Private Financial Holdings, Inc.	21,569		227,984
	Bridge Bancorp, Inc.	2,975		75,833
	Brookline Bancorp, Inc.	17,819		246,259
	Bryn Mawr Bank Corp.	5,148		177,091
	C&F Financial Corp.	962		51,188
	Camden National Corp.	4,996		179,706
	Capital City Bank Group, Inc.	1,890		43,867
	Carolina Financial Corp.	4,074		120,550
	Cathay General Bancorp	21,094		707,282
	CenterState Bank Corp.	11,272		237,163
	Central Pacific Financial Corp.	7,849		191,123
	Central Valley Community Bancorp	2,688		50,723
	Century Bancorp, Inc., Class A	975		66,037
	Chemical Financial Corp.	13,615		498,445
	CIT Group, Inc.	6,260		239,570
	Citizens & Northern Corp.	852		22,518
	City Holding Co.	4,850		327,811
	Civista Bancshares, Inc.	270		4,703
	CNB Financial Corp.	3,877		88,977
	Columbia Banking System, Inc.	18,941		687,369
	Community Bank System, Inc.	10,370		604,571
	Community Trust Bancorp, Inc.	4,634		183,553
	Connectone Bancorp, Inc.	6,144		113,480
	Customers Bancorp, Inc. *	5,348		97,334
	CVB Financial Corp.	27,325		552,785
	Eagle Bancorp, Inc. *	6,777		330,108
	East West Bancorp, Inc.	9,671		420,979
	Enterprise Bancorp, Inc.	331		10,645
	Enterprise Financial Services Corp.	3,837		144,386
	Equity Bancshares, Inc., Class A *	2,190		77,197
	Farmers & Merchants Bancorp,        Inc./Archbold OH	1,205		46,380
	Farmers National Banc Corp.	6,489		82,670
	FB Financial Corp.	630		22,063
	FCB Financial Holdings, Inc., Class A *	6,632		222,703
	Fidelity Southern Corp.	7,376		191,924
	Financial Institutions, Inc.	5,054		129,888
	First Bancorp, Inc.	3,442		90,525
	First Bancorp/Puerto Rico	35,131		302,127
	First Bancorp/Southern Pines NC	4,576		149,452
	First Busey Corp.	7,922		194,406
	First Business Financial Services, Inc.	551		10,750
	First Citizens Bancshares, Inc., Class A	410		154,590
	First Commonwealth Financial Corp.	21,526		260,034
	First Community Bancshares, Inc.	5,007		157,620
	First Financial Bancorp	22,565		535,242
	First Financial Bankshares, Inc. @	13,804		796,353
	First Financial Corp.	2,698		108,325
	First Financial Northwest, Inc.	2,239		34,637
	First Foundation, Inc. *	6,207		79,822
	First Hawaiian, Inc.	1,200		27,012
	First Horizon National Corp.	19,448		255,936
	First Internet Bancorp	1,284		26,245
	First Interstate Bancsystem, Inc.	6,668		243,782
	First Merchants Corp.	8,330		285,469
	First Mid-Illinois Bancshares, Inc.	500		15,960
	First Midwest Bancorp, Inc.	18,632		369,100
	First of Long Island Corp. (The)	5,134		102,423
	Flushing Financial Corp.	7,140		153,724
	FNB Corp.	24,564		241,710
	Franklin Financial Network, Inc. *	2,740		72,254
	Fulton Financial Corp.	44,920		695,362
	German American Bancorp, Inc.	4,050		112,468
	Glacier Bancorp, Inc.	19,481		771,837
	Great Southern Bancorp, Inc.	3,742		172,244
	Great Western Bancorp, Inc.	1,271		39,719
	Green Bancorp, Inc.	5,182		88,819
	Guaranty Bancorp	4,394		91,175
	Hancock Whiteny Corp.	6,326		219,196
	Hanmi Financial Corp.	8,053		158,644
	HarborOne Bancorp, Inc. *	4,196		66,674
	Heartland Financial USA, Inc.	5,400		237,330
	Heritage Commerce Corp.	11,190		126,895
	Heritage Financial Corp.	5,733		170,385
	Hilltop Holdings, Inc.	25,969		463,027
	Home Bancshares, Inc.	14,737		240,803
	HomeTrust Bancshares, Inc.	2,644		69,220
	Hope Bancorp, Inc.	34,605		410,415
	Horizon Bancorp, Inc.	9,114		143,819
	Howard Bancorp, Inc. *@	499		7,136
	Iberiabank Corp.	4,398		282,703
	Independent Bank Corp.	4,840		340,300
	Independent Bank Group, Inc.	500		22,885
	International Bancshares Corp.	15,750		541,800
	Investors Bancorp, Inc.	2,762		28,725
	Lakeland Bancorp, Inc.	6,732		99,701
	Lakeland Financial Corp.	5,055		203,009
	LegacyTexas Financial Group, Inc.	11,096		356,071
	Live Oak Bancshares, Inc. @	500		7,405
	Macatawa Bank Corp.	10,065		96,825
	MB Financial, Inc.	15,151		600,434
	MBT Financial Corp.	5,012		46,612
	Mercantile Bank Corp.	4,860		137,344

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Commercial Banks (Continued)
	Midland States Bancorp, Inc.	1,086	$	24,261
	Midsouth Bancorp, Inc.	3,530		37,418
	MidWestOne Financial Group, Inc.	613		15,221
	National Bank Holdings Corp., Class A	5,759		177,780
	National Commerce Corp. *	1,943		69,948
	NBT Bancorp, Inc.	9,449		326,841
	Nicolet Bankshares, Inc. *	1,020		49,776
	Northeast Bancorp	2,190		36,639
	Northrim Bancorp, Inc.	1,680		55,222
	OFG Bancorp	10,569		173,966
	Old Line Bancshares, Inc.	3,023		79,565
	Old National Bancorp	29,051		447,385
	Old Second Bancorp, Inc.	2,244		29,172
	Opus Bank	4,401		86,216
	Pacific Mercantile Bancorp *	2,500		17,875
	Pacific Premier Bancorp, Inc. *	6,414		163,685
	PacWest Bancorp	6,913		230,065
	Park National Corp.	3,450		293,077
	Peapack Gladstone Financial Corp.	4,278		107,720
	Penns Woods Bancorp, Inc.	1,159		46,638
	People's United Financial, Inc.	25,083		361,948
	People's Utah Bancorp	3,598		108,480
	Peoples Bancorp, Inc.	4,491		135,179
	Pinnacle Financial Partners, Inc.	3,114		143,555
	Popular, Inc.	10,180		480,700
	Preferred Bank	3,769		163,386
	Premier Financial Bancorp, Inc.	1,726		25,735
	Prosperity Bancshares, Inc.	3,471		216,243
	QCR Holdings, Inc.	3,022		96,976
	Renasant Corp.	8,712		262,928
	Republic Bancorp, Inc., Class A	6,120		236,966
	Republic First Bancorp, Inc. *	3,546		21,170
	S&T Bancorp, Inc.	8,302		314,148
	Sandy Spring Bancorp, Inc.	6,300		197,442
	Seacoast Banking Corp. of Florida *	5,668		147,481
	Select Bancorp, Inc. *	200		2,476
	ServisFirst Bancshares, Inc. @	6,378		203,267
	Sierra Bancorp	4,469		107,390
	Signature Bank	3,143		323,132
	Simmons First National Corp., Class A	15,870		382,943
	South State Corp.	6,422		384,999
	Southern First Bancshares, Inc. *	1,759		56,411
	Southern National Bancorp of Virginia, Inc.	3,875		51,228
	Southside Bancshares, Inc.	6,142		195,008
	State Bank Financial Corp.	4,771		103,006
	Sterling Bancorp	50,859		839,682
	Stock Yards Bancorp, Inc.	4,336		142,221
	Summit Financial Group, Inc.	392		7,570
	Synovus Financial Corp.	3,836		122,714
	TCF Financial Corp.	40,956		798,232
	Texas Capital Bancshares, Inc. *	3,548		181,267
	Tompkins Financial Corp.	2,420		181,524
	TowneBank	6,582		157,639
	Trico Bancshares	5,350		180,776
	TriState Capital Holdings, Inc. *	6,765		131,647
	Triumph Bancorp, Inc. *	4,016		119,275
	Trustmark Corp.	17,352		493,317
	UMB Financial Corp.	10,571		644,514
	Umpqua Holdings Corp.	9,156		145,580
	Union Bankshares Corp.	10,118		285,631
	United Bankshares, Inc. @	11,450		356,209
	United Community Banks, Inc.	15,888		340,956
	Univest Corp. of Pennsylvania	6,110		131,793
	Valley National Bancorp	57,348		509,250
	Veritex Holdings, Inc. *@	5,336		114,084
	Washington Trust Bancorp, Inc.	3,000		142,590
	Webster Financial Corp.	2,924		144,124
	WesBanco, Inc.	11,283		413,973
	West Bancorp, Inc.	4,527		86,420
	Westamerica Bancorp @	6,329		352,399
	Western Alliance Bancorp *	2,991		118,115
	Wintrust Financial Corp.	5,592		371,812
				38,990,504
Commercial Services & Supplies — 3.1%
	ABM Industries, Inc.	14,023		450,279
	ACCO Brands Corp.	26,340		178,585
	ARC Document Solutions, Inc. *	5,486		11,246
	Brady Corp., Class A	11,602		504,223
	Brink's Co. (The)	7,356		475,566
	Casella Waste Systems, Inc., Class A *	14,775		420,940
	Ceco Environmental Corp. *	4,211		28,424
	Cimpress NV *	6,915		715,149
	Civeo Corp. *	16,915		24,189
	Clean Harbors, Inc. *	12,448		614,309
	Covanta Holding Corp.	31,607		424,166
	Deluxe Corp.	9,989		383,977
	Document Security Systems, Inc. *@	6,484		4,750
	Ennis, Inc.	5,800		111,650
	Essendant, Inc.	9,904		124,592
	Healthcare Services Group, Inc. @	7,841		315,051
	Heritage-Crystal Clean, Inc. *	3,229		74,299
	Herman Miller, Inc.	14,286		432,152
	HNI Corp.	11,460		406,028
	Hudson Technologies, Inc. *@	2,952		2,627
	Interface, Inc.	19,482		277,619
	Kimball International, Inc., Class B	9,760		138,494
	Knoll, Inc.	12,851		211,785
	LSC Communications, Inc.	4,787		33,509
	Matthews International Corp., Class A	8,044		326,747
	Mcgrath Rentcorp	5,300		272,844
	Mobile Mini, Inc.	11,926		378,651
	MSA Safety, Inc.	8,900		839,003
	Multi-Color Corp.	4,321		151,624
	NL Industries, Inc. *	7,891		27,698
	Pico Holdings, Inc. *	2,830		25,866
	Pitney Bowes, Inc.	4,177		24,686
	Quad/Graphics, Inc.	4,591		56,561
	SP Plus Corp. *	5,458		161,229
	Steelcase, Inc., Class A	26,730		396,406
	Stericycle, Inc. *	1,600		58,704
	Team, Inc. *@	6,603		96,734
	Tetra Tech, Inc.	15,308		792,495
	UniFirst Corp.	3,000		429,210
	US Ecology, Inc.	5,445		342,926
	Viad Corp.	4,500		225,405
	Virco Manufacturing Corp.	2,494		10,699
	VSE Corp.	2,564		76,689
				11,057,786
Communications Equipment — 1.5%
	Acacia Communications, Inc. *	545		20,710
	ADTRAN, Inc.	15,860		170,336

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Communications Equipment (Continued)
	Applied Optoelectronics, Inc. *@	4,381	$	67,599
	ARRIS International PLC *	7,221		220,746
	BK Technologies, Inc.	2,000		7,500
	Black Box Corp. *	7,012		7,573
	CalAmp Corp. *	8,914		115,971
	Ciena Corp. *	27,004		915,706
	Clearfield, Inc. *	3,231		32,051
	CommScope Holding Co., Inc. *	2,387		39,123
	Communications Systems, Inc.	1,418		2,878
	Comtech Telecommunications Corp.	5,725		139,346
	Digi International, Inc. *	7,600		76,684
	EMCORE Corp. *	4,428		18,598
	Finisar Corp. *	25,900		559,440
	Harmonic, Inc. *	10,330		48,758
	Infinera Corp. *	22,351		89,180
	InterDigital, Inc.	9,067		602,321
	KVH Industries, Inc. *	5,534		56,945
	Lantronix, Inc. *	1,100		3,234
	Lumentum Holdings, Inc. *@	5,615		235,886
	NETGEAR, Inc. *	8,086		420,715
	NetScout Systems, Inc. *	12,873		304,189
	Network-1 Technologies, Inc.	1,343		2,995
	Optical Cable Corp. *	374		1,425
	PC-Tel, Inc. *	4,100		17,589
	Plantronics, Inc.	8,418		278,636
	Ribbon Communications, Inc. *	13,960		67,287
	Tessco Technologies, Inc.	1,000		12,000
	Ubiquiti Networks, Inc. @	1,816		180,529
	Viasat, Inc. *@	4,646		273,882
	Viavi Solutions, Inc. *	33,947		341,167
				5,330,999
Computers & Peripherals — 0.3%
	AstroNova, Inc.	1,572		29,475
	Avid Technology, Inc. *	14,913		70,837
	CCUR Holdings, Inc.	1,362		4,508
	Cray, Inc. *	9,462		204,285
	Diebold Nixdorf, Inc. @	5,013		12,482
	Eastman Kodak Co. *@	2,112		5,386
	Electronics for Imaging, Inc. *	10,234		253,803
	Intevac, Inc. *	4,883		25,538
	Pure Storage, Inc., Class A *	5,700		91,656
	Super Micro Computer, Inc. *	11,510		158,838
	Transact Technologies, Inc.	1,515		13,605
	Xerox Corp.	17,611		347,993
				1,218,406
Construction & Engineering — 1.4%
	AECOM *	6,494		172,091
	Aegion Corp. *	7,119		116,182
	Ameresco, Inc., Class A *	6,298		88,802
	Arcosa, Inc. *	1,853		51,309
	Argan, Inc.	1,886		71,366
	Comfort Systems USA, Inc.	8,930		390,062
	Dycom Industries, Inc. *	8,566		462,907
	EMCOR Group, Inc.	9,013		537,986
	Fluor Corp.	909		29,270
	Goldfield Corp. (The) *	11,707		26,458
	Granite Construction, Inc.	10,531		424,189
	Great Lakes Dredge & Dock Corp. *	17,460		115,585
	IES Holdings, Inc. *	6,062		94,264
	KBR, Inc.	27,114		411,590
	MasTec, Inc. *@	7,480		303,389
	MYR Group, Inc. *	5,036		141,864
	Northwest Pipe Co. *	3,331		77,579
	NV5 Global, Inc. *	2,453		148,529
	Orion Marine Group, Inc. *	3,431		14,719
	Primoris Services Corp.	15,378		294,181
	Quanta Services, Inc.	5,826		175,363
	Sterling Construction Co., Inc. *	8,350		90,931
	Tutor Perini Corp. *@	10,146		162,032
	Valmont Industries, Inc.	5,127		568,841
				4,969,489
Construction Materials — 0.1%
	Eagle Materials, Inc.	1,439		87,822
	Forterra, Inc. *@	1,512		5,685
	Summit Materials, Inc., Class A *@	5,300		65,720
	United States Lime & Minerals, Inc.	1,679		119,209
	US Concrete, Inc. *@	3,055		107,781
				386,217
Consumer Finance — 1.2%
	Atlanticus Holdings Corp. *	5,476		19,933
	Consumer Portfolio Services, Inc. *	7,272		21,889
	Credit Acceptance Corp. *	322		122,927
	Encore Capital Group, Inc. *@	6,224		146,264
	Enova International, Inc. *	8,364		162,763
	Ezcorp, Inc., Class A *@	14,462		111,791
	FirstCash, Inc.	13,459		973,759
	Green Dot Corp., Class A *	12,631		1,004,417
	LendingClub Corp. *@	41,757		109,821
	Navient Corp.	25,118		221,290
	Nelnet, Inc., Class A	8,024		419,976
	OneMain Holdings, Inc. *	8,524		207,048
	PRA Group, Inc. *	11,293		275,210
	Regional Management Corp. *	3,472		83,502
	Santander Consumer USA Holdings, Inc.	15,002		263,885
	SLM Corp. *	5,461		45,381
	World Acceptance Corp. *	2,452		250,741
				4,440,597
Containers & Packaging — 0.5%
	AptarGroup, Inc.	2,585		243,171
	Bemis Co., Inc.	2,270		104,193
	Berry Plastics Group, Inc. *	3,917		186,175
	Crown Holdings, Inc. *	4,548		189,060
	Graphic Packaging Holding Co. @	7,664		81,545
	Greif, Inc., Class B	1,193		52,969
	Greif, Inc., Class A	5,187		192,490
	Myers Industries, Inc.	11,631		175,744
	Sealed Air Corp.	6,734		234,613
	Silgan Holdings, Inc.	16,218		383,069
	Sonoco Products Co.	870		46,223
	UFP Technologies, Inc. *	913		27,427
				1,916,679
Distributors — 0.2%
	Core-Mark Holding Co., Inc.	10,550		245,288
	Pool Corp.	2,619		389,314
	Weyco Group, Inc.	1,489		43,434
				678,036
Diversified Consumer Services — 1.4%
	Adtalem Global Education, Inc. *	15,103		714,674
	American Public Education, Inc. *	4,460		126,932
	Bridgepoint Education, Inc. *	3,315		23,238
	Bright Horizons Family Solutions, Inc. *	2,527		281,634
	Career Education Corp. *	17,024		194,414
	Carriage Services, Inc.	5,101		79,066
	Collectors Universe, Inc.	1,790		20,334
	frontdoor, Inc. *	2,710		72,113

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Diversified Consumer Services (Continued)
	Graham Holdings Co., Class B	523	$	335,023
	Grand Canyon Education, Inc. *	8,480		815,267
	H&R Block, Inc.	5,826		147,806
	Houghton Mifflin Harcourt Co. *	14,959		132,537
	K12, Inc. *	10,696		265,154
	Regis Corp. *	10,591		179,518
	Service Corp. International	4,000		161,040
	ServiceMaster Global Holdings, Inc. *	5,420		199,131
	Sotheby's *@	11,233		446,399
	Strategic Education, Inc.	5,403		612,808
	Universal Technical Institute, Inc. *	5,900		21,535
	Weight Watchers International, Inc. *	6,398		246,643
				5,075,266
Diversified Financial Services — 0.3%
	A-Mark Precious Metals, Inc.	1,856		21,882
	Cannae Holdings, Inc. *	4,237		72,537
	Jefferies Financial Group, Inc.	19,674		341,541
	Marlin Business Services Corp.	4,273		95,416
	On Deck Capital, Inc. *	14,292		84,323
	Voya Financial, Inc.	10,248		411,355
				1,027,054
Diversified Telecommunication Services — 0.5%
	Alaska Communications Systems Group, Inc. *	2,448		3,525
	ATN International, Inc.	3,600		257,508
	Cincinnati Bell, Inc. *	6,675		51,931
	Cogent Communications Holdings, Inc.	11,951		540,305
	Consolidated Communications Holdings, Inc. @	8,637		85,334
	IDT Corp., Class B *	6,820		42,216
	Intelsat SA *	9,952		212,873
	Orbcomm, Inc. *	17,501		144,558
	Vonage Holdings Corp. *	52,898		461,800
				1,800,050
Electric Utilities — 1.2%
	Allete, Inc.	12,640		963,421
	El Paso Electric Co.	11,005		551,681
	Genie Energy Ltd., Class B	4,900		29,547
	Hawaiian Electric Industries, Inc.	8,115		297,171
	IDACORP, Inc.	3,214		299,095
	MGE Energy, Inc.	7,437		445,923
	OGE Energy Corp.	4,121		161,502
	Otter Tail Corp.	8,433		418,614
	PNM Resources, Inc.	20,971		861,698
	Portland General Electric Co.	6,399		293,394
	Spark Energy, Inc., Class A @	2,000		14,860
				4,336,906
Electrical Equipment — 1.1%
	Allied Motion Technologies, Inc.	2,312		103,323
	Atkore International Group, Inc. *	14,665		290,954
	AZZ, Inc.	5,993		241,877
	Babcock & Wilcox Enterprises, Inc. *	26,555		10,367
	Encore Wire Corp.	4,184		209,953
	EnerSys	12,065		936,365
	Espey Manufacturing & Electronics Corp.	565		14,080
	Generac Holdings, Inc. *	15,486		769,654
	Hubbell, Inc.	621		61,690
	LSI Industries, Inc.	3,137		9,944
	Powell Industries, Inc.	3,021		75,555
	Preformed Line Products Co.	1,398		75,842
	Regal Beloit Corp.	6,159		431,438
	Sunrun, Inc. *@	8,165		88,917
	Thermon Group Holdings, Inc. *	7,945		161,125
	TPI Composites, Inc. *	564		13,863
	Ultralife Corp. *	3,600		24,300
	Vicor Corp. *	7,156		270,425
				3,789,672
Electronic Equipment, Instruments & Components — 3.4%
	Anixter International, Inc. *	9,193		499,272
	Arrow Electronics, Inc. *	6,224		429,145
	Avnet, Inc.	5,920		213,712
	AVX Corp.	15,493		236,268
	Badger Meter, Inc.	8,072		397,223
	Bel Fuse, Inc., Class B	3,168		58,355
	Belden, Inc. @	10,515		439,212
	Benchmark Electronics, Inc.	7,901		167,343
	Coherent, Inc. *	520		54,969
	Control4 Corp. *	5,091		89,602
	CTS Corp.	8,726		225,916
	Daktronics, Inc.	11,985		88,689
	Data I/O Corp. *	4,458		22,290
	Electro Scientific Industries, Inc. *	9,034		270,659
	ePlus, Inc. *	2,400		170,808
	Fabrinet *	9,194		471,744
	FARO Technologies, Inc. *	4,145		168,453
	Flex Ltd. *	16,684		126,965
	Frequency Electronics, Inc. *	1,400		14,840
	IEC Electronics Corp. *	800		4,576
	II-VI, Inc. *	15,632		507,415
	Insight Enterprises, Inc. *	9,272		377,834
	Itron, Inc. *	9,844		465,523
	Kemet Corp.	14,541		255,049
	Key Tronic Corp. *	1,700		9,605
	Kimball Electronics, Inc. *	5,879		91,066
	Knowles Corp. *	11,920		158,655
	LightPath Technologies, Inc., Class A *@	4,009		5,973
	Littelfuse, Inc.	4,934		846,082
	Maxwell Technologies, Inc. *@	7,005		14,500
	Mesa Laboratories, Inc. @	965		201,096
	Methode Electronics, Inc.	9,109		212,149
	MTS Systems Corp.	3,800		152,494
	NAPCO Security Technologies, Inc. *	4,850		76,387
	National Instruments Corp.	5,262		238,790
	Novanta, Inc. *	4,922		310,086
	OSI Systems, Inc. *	5,044		369,725
	PAR Technology Corp. *	3,000		65,250
	Park Electrochemical Corp.	6,063		109,558
	PC Connection, Inc.	6,200		184,326
	PCM, Inc. *	5,438		95,763
	Perceptron, Inc. *	1,100		8,866
	Plexus Corp. *	8,263		422,074
	Richardson Electronics Ltd.	2,700		23,463
	Rogers Corp. *	3,742		370,682
	Sanmina Corp. *	16,932		407,384
	Scansource, Inc. *	6,290		216,250
	SYNNEX Corp.	3,640		294,258
	Tech Data Corp. *	4,480		366,509
	TTM Technologies, Inc. *	20,635		200,779
	Vishay Intertechnology, Inc.	34,292		617,599

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Electronic Equipment, Instruments & Components (Continued)
	Vishay Precision Group, Inc. *	3,234	$	97,764
	Wayside Technology Group, Inc.	315		3,150
	Zebra Technologies Corp., Class A *	1,204		191,713
				12,117,858
Energy Equipment & Services — 1.1%
	Archrock, Inc.	21,713		162,630
	Basic Energy Services, Inc. *	3,202		12,296
	Bristow Group, Inc. *@	4,322		10,503
	CARBO Ceramics, Inc. *@	4,505		15,677
	Core Laboratories NV	2,189		130,596
	Dawson Geophysical Co. *	2,775		9,380
	Diamond Offshore Drilling, Inc. *@	20,830		196,635
	Dril-Quip, Inc. *	9,369		281,351
	Ensco PLC @	47,451		168,926
	Era Group, Inc. *	6,415		56,067
	Exterran Corp. *	10,006		177,106
	Forum Energy Technologies, Inc. *	13,194		54,491
	Frank's International NV *@	12,111		63,219
	Geospace Technologies Corp. *	1,646		16,970
	Gulf Island Fabrication, Inc.	1,823		13,162
	Helix Energy Solutions Group, Inc. *	17,953		97,126
	Helmerich & Payne, Inc.	6,131		293,920
	Hornbeck Offshore Services, Inc. *@	9,178		13,216
	ION Geophysical Corp. *	1,706		8,837
	KLX Energy Services Holdings, Inc. *	3,833		89,884
	Matrix Service Co. *	6,910		123,965
	McDermott International, Inc. *@	19,039		124,515
	Mitcham Industries, Inc. *	2,601		6,659
	Nabors Industries Ltd. @	50,859		101,718
	Natural Gas Services Group, Inc. *	3,685		60,581
	Newpark Resources, Inc. *	23,842		163,795
	Noble Corp. PLC *@	29,917		78,383
	Oceaneering International, Inc. *	19,653		237,801
	Oil States International, Inc. *	7,268		103,787
	Patterson-UTI Energy, Inc.	599		6,200
	PHI, Inc. *@	2,300		4,255
	Pioneer Energy Services Corp. *	29,293		36,030
	RigNet, Inc. *	2,347		29,666
	Rowan Cos. PLC, Class A *@	21,417		179,689
	SEACOR Holdings, Inc. *	4,782		176,934
	SEACOR Marine Holdings, Inc. *	5,046		59,341
	Superior Energy Services, Inc. *	18,698		62,638
	Tetra Technologies, Inc. *	15,222		25,573
	Transocean Ltd. *@	46,000		319,240
	U.S. Silica Holdings, Inc. @	13,442		136,840
	Unit Corp. *	6,551		93,548
				4,003,150
Entertainment — 0.4%
	AMC Entertainment Holdings, Inc., Class A @	6,707		82,362
	Ballantyne Strong, Inc. *	3,464		3,984
	Cinemark Holdings, Inc.	489		17,506
	Global Eagle Entertainment, Inc. *@	2,123		4,734
	Glu Mobile, Inc. *	14,543		117,362
	IMAX Corp. *	4,817		90,608
	Lions Gate Entertainment Corp., Class A	4,059		65,350
	Lions Gate Entertainment Corp., Class B	3,845		57,214
	Madison Square Garden Co. (The), Class A *	300		80,310
	Marcus Corp. (The)	4,500		177,750
	Reading International, Inc., Class A *	4,951		71,987
	Rosetta Stone, Inc. *	4,575		75,030
	World Wrestling Entertainment, Inc., Class A	625		46,700
	Zynga, Inc., Class A *	155,342		610,494
				1,501,391
Food & Staples Retailing — 0.5%
	Andersons, Inc. (The)	6,913		206,630
	Chefs' Warehouse Inc. (The) *	7,751		247,877
	Ingles Markets, Inc., Class A	2,846		77,468
	Natural Grocers by Vitamin Cottage, Inc. *	2,710		41,544
	Performance Food Group Co. *	1,300		41,951
	PriceSmart, Inc.	7,615		450,047
	Smart & Final Stores, Inc. *	6,519		30,900
	SpartanNash Co.	8,657		148,727
	Sprouts Farmers Market, Inc. *	8,100		190,431
	United Natural Foods, Inc. *	8,554		90,587
	Village Super Market, Inc., Class A	2,388		63,855
	Weis Markets, Inc.	6,390		305,314
				1,895,331
Food Products — 1.7%
	B&G Foods, Inc. @	23,846		689,388
	Cal-Maine Foods, Inc.	10,494		443,896
	Calavo Growers, Inc. @	5,041		367,791
	Coffee Holding Co., Inc. *	600		2,118
	Darling Ingredients, Inc. *	37,935		729,869
	Dean Foods Co.	11,073		42,188
	Farmer Bros. Co. *	4,956		115,623
	Flowers Foods, Inc.	3,978		73,474
	Fresh Del Monte Produce, Inc.	13,192		372,938
	Hostess Brands, Inc. *	4,664		51,024
	J&J Snack Foods Corp.	4,900		708,491
	John B. Sanfilippo & Son, Inc.	2,650		147,499
	Lancaster Colony Corp.	5,159		912,421
	Landec Corp. *	9,074		107,436
	Lifeway Foods, Inc. *	3,800		7,144
	Limoneira Co.	2,072		40,508
	Post Holdings, Inc. *	1,658		147,778
	Rocky Mountain Chocolate Factory, Inc.	1,260		10,597
	Sanderson Farms, Inc. @	6,194		615,002
	Seaboard Corp.	13		45,994
	Seneca Foods Corp., Class A *	2,138		60,334
	Tootsie Roll Industries, Inc. @	8,207		274,114
	TreeHouse Foods, Inc. *	225		11,410
				5,977,037
Gas Utilities — 1.1%
	Chesapeake Utilities Corp.	3,064		249,103
	National Fuel Gas Co. @	2,585		132,300
	New Jersey Resources Corp.	19,713		900,293
	Northwest Natural Holding Co.	6,553		396,194
	ONE Gas, Inc.	9,334		742,987
	RGC Resources, Inc.	600		17,976
	South Jersey Industries, Inc. @	17,084		474,935
	Southwest Gas Corp.	4,554		348,381
	Spire, Inc.	11,344		840,364
				4,102,533
Health Care Equipment & Supplies — 3.6%
	Accuray, Inc. *	14,711		50,164
	Angiodynamics, Inc. *	8,960		180,365
	Anika Therapeutics, Inc. *	4,206		141,364
	Apollo Endosurgery, Inc. *@	1,905		6,572
	Atrion Corp.	539		399,442
	Avanos Medical, Inc. *	9,638		431,686
	Cantel Medical Corp.	10,310		767,579
	Conmed Corp.	7,150		459,030

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Health Care Equipment & Supplies (Continued)
	CryoLife, Inc. *	12,089	$	343,086
	Cutera, Inc. *	3,187		54,243
	DexCom, Inc. *	3,018		361,556
	Electromed, Inc. *	2,929		14,909
	FONAR Corp. *	1,982		40,116
	Globus Medical, Inc., Class A *	18,325		793,106
	Haemonetics Corp. *	12,126		1,213,206
	Heska Corp. *	1,387		119,421
	ICU Medical, Inc. *	3,065		703,816
	Inogen, Inc. *	3,628		450,489
	Insulet Corp. *@	2,127		168,714
	Integer Holdings Corp. *	7,181		547,623
	Integra LifeSciences Holdings Corp. *	16,147		728,230
	IntriCon Corp. *	1,000		26,380
	Invacare Corp. @	9,456		40,661
	Iridex Corp. *	671		3,154
	Lantheus Holdings, Inc. *	10,055		157,361
	LeMaitre Vascular, Inc.	5,488		129,736
	LivaNova PLC *	5,780		528,697
	Masimo Corp. *	3,574		383,740
	Meridian Bioscience, Inc.	15,309		265,764
	Merit Medical Systems, Inc. *	11,860		661,907
	Misonix, Inc. *	2,200		35,222
	Natus Medical, Inc. *	7,664		260,806
	Neogen Corp. *	7,090		404,130
	NuVasive, Inc. *	9,715		481,475
	Nuvectra Corp. *	4,525		73,938
	OraSure Technologies, Inc. *	14,221		166,101
	Orthofix Medical, Inc. *	3,915		205,498
	Penumbra, Inc. *@	568		69,410
	Quidel Corp. *	7,203		351,650
	RTI Surgical, Inc. *	15,534		57,476
	SeaSpine Holdings Corp. *	2,964		54,063
	SurModics, Inc. *	4,156		196,413
	Utah Medical Products, Inc.	831		69,039
	Varex Imaging Corp. *	2,200		52,096
	West Pharmaceutical Services, Inc.	1,000		98,030
				12,747,464
Health Care Providers & Services — 2.7%
	Acadia Healthcare Co., Inc. *@	4,406		113,278
	Addus HomeCare Corp. *	3,267		221,764
	Amedisys, Inc. *	10,787		1,263,266
	American Renal Associates Holdings, Inc. *	3,424		39,444
	AMN Healthcare Services, Inc. *	12,615		714,766
	BioScrip, Inc. *	9,341		33,347
	BioTelemetry, Inc. *	9,637		575,522
	Brookdale Senior Living, Inc. *	15,683		105,076
	Capital Senior Living Corp. *	10,327		70,224
	Chemed Corp.	4,206		1,191,476
	Civitas Solutions, Inc. *	2,842		49,763
	Corvel Corp. *	5,100		314,772
	Cross Country Healthcare, Inc. *	10,203		74,788
	CynergisTek, Inc. *	2,905		13,770
	Digirad Corp.	2,100		1,197
	Diplomat Pharmacy, Inc. *@	7,290		98,123
	Ensign Group, Inc. (The)	12,996		504,115
	HealthEquity, Inc. *	7,664		457,158
	LHC Group, Inc. *	7,449		699,312
	Magellan Health, Inc. *	6,579		374,279
	Medcath Corp. *§	3,122		—
	MEDNAX, Inc. *	2,085		68,805
	Molina Healthcare, Inc. *	2,071		240,692
	National Healthcare Corp.	3,000		235,350
	National Research Corp., Class A	5,162		196,879
	Owens & Minor, Inc. @	7,490		47,412
	Patterson Cos., Inc. @	6,194		121,774
	Premier, Inc., Class A *	1,300		48,555
	Providence Service Corp. (The) *	3,126		187,622
	Psychemedics Corp.	2,439		38,707
	Quorum Health Corp. *	3,902		11,277
	R1 RCM, Inc. *	4,901		38,963
	RadNet, Inc. *	14,650		148,990
	Select Medical Holdings Corp. *	33,903		520,411
	Surgery Partners, Inc. *	1,077		10,544
	Tenet Healthcare Corp. *	16,691		286,084
	Tivity Health, Inc. *	9,735		241,525
	Triple-S Management Corp., Class B *	5,369		93,367
	U.S. Physical Therapy, Inc.	2,650		271,227
				9,723,624
Health Care Technology — 0.7%
	Allscripts Healthcare Solutions, Inc. *	47,890		461,659
	athenahealth, Inc. *	1,140		150,400
	Computer Programs & Systems, Inc.	2,670		67,017
	Evolent Health, Inc., Class A *@	3,026		60,369
	HealthStream, Inc.	7,364		177,841
	HMS Holdings Corp. *	20,254		569,745
	Medidata Solutions, Inc. *	1,212		81,713
	NextGen Healthcare, Inc. *	14,776		223,856
	Omnicell, Inc. *	8,824		540,382
	Simulations Plus, Inc.	3,432		68,297
				2,401,279
Hotels, Restaurants & Leisure — 3.6%
	BBX Capital Corp.	2,088		11,964
	Belmond Ltd., Class A *	22,738		569,132
	Biglari Holdings, Inc., Class A *	7		4,114
	Biglari Holdings, Inc., Class B *	74		8,405
	BJ's Restaurants, Inc.	6,584		332,953
	Bloomin' Brands, Inc.	25,380		454,048
	Bojangles', Inc. *	3,962		63,709
	Brinker International, Inc. @	14,448		635,423
	Caesars Entertainment Corp. *	30,192		205,004
	Carrols Restaurant Group, Inc. *	8,916		87,733
	Cheesecake Factory, Inc. (The)	12,568		546,834
	Choice Hotels International, Inc.	10,908		780,795
	Churchill Downs, Inc.	1,439		351,030
	Chuy's Holdings, Inc. *	5,251		93,153
	Cracker Barrel Old Country Store, Inc. @	3,034		485,015
	Dave & Buster's Entertainment, Inc.	8,459		376,933
	Del Frisco's Restaurant Group, Inc. *	2,470		17,660
	Del Taco Restaurants, Inc. *	11,150		111,388
	Denny's Corp. *	20,830		337,654
	DineEquity, Inc. @	1,127		75,892
	Dover Motorsports, Inc.	4,000		7,520
	Drive Shack, Inc. *	17,393		68,181
	Dunkin' Brands Group, Inc.	5,347		342,850
	El Pollo Loco Holdings, Inc. *	4,284		64,988
	Eldorado Resorts, Inc. *@	7,498		271,503
	Extended Stay America, Inc.	8,000		124,000
	Famous Dave's of America, Inc. *@	2,602		11,943
	Fiesta Restaurant Group, Inc. *	8,023		124,437

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Hotels, Restaurants & Leisure (Continued)
	Habit Restaurants, Inc. (The), Class A *	2,386	$	25,053
	Hilton Grand Vacations, Inc. *	559		14,752
	International Game Technology PLC @	969		14,176
	Jack in the Box, Inc.	8,843		686,482
	Lindblad Expeditions Holdings, Inc. *	9,143		123,065
	Luby's, Inc. *	7,260		8,712
	Marriott Vacations Worldwide Corp.	11,562		815,237
	Monarch Casino & Resort, Inc. *	1,490		56,829
	Nathan's Famous, Inc.	1,394		92,631
	Papa John's International, Inc. @	12,036		479,153
	Papa Murphy's Holdings, Inc. *@	672		3,192
	Penn National Gaming, Inc. *	11,868		223,474
	Planet Fitness, Inc. Class A *	14,937		800,922
	Playa Hotels & Resorts NV *	1,000		7,190
	Potbelly Corp. *	6,131		49,355
	RCI Hospitality Holdings, Inc.	2,209		49,327
	Red Lion Hotels Corp. *	7,375		60,475
	Red Robin Gourmet Burgers, Inc. *	2,986		79,786
	Ruth's Hospitality Group, Inc.	7,088		161,110
	Scientific Games Corp., Class A *@	900		16,092
	SeaWorld Entertainment, Inc. *	3,757		82,992
	Shake Shack, Inc., Class A *	2,567		116,593
	Six Flags Entertainment Corp. @	2,932		163,107
	Speedway Motorsports, Inc.	4,469		72,711
	Texas Roadhouse, Inc.	17,624		1,052,153
	Town Sports International Holdings, Inc. *	8,000		51,200
	Wendy's Co. (The)	49,718		776,098
	Wingstop, Inc.	2,302		147,765
				12,793,893
Household Durables — 1.8%
	Bassett Furniture Industries, Inc.	2,600		52,104
	Beazer Homes USA, Inc. *	1,643		15,576
	Cavco Industries, Inc. *	2,107		274,711
	Century Communities, Inc. *	5,284		91,202
	CSS Industries, Inc.	2,100		18,837
	Dixie Group, Inc. (The) *	1,200		843
	Ethan Allen Interiors, Inc.	8,443		148,512
	Flexsteel Industries, Inc.	1,493		32,965
	Green Brick Partners, Inc. *	4,024		29,134
	Hamilton Beach Brands Holding Co., Class A	2,000		46,920
	Helen of Troy Ltd. *	7,429		974,536
	Hooker Furniture Corp.	2,500		65,850
	Installed Building Products, Inc. *	6,010		202,477
	iRobot Corp. *@	6,627		554,945
	KB Home	22,962		438,574
	La-Z-Boy, Inc.	12,996		360,119
	Leggett & Platt, Inc.	1,783		63,903
	Libbey, Inc.	7,340		28,479
	Lifetime Brands, Inc.	3,200		32,096
	M.D.C. Holdings, Inc.	12,074		339,400
	M/I Homes, Inc. *	5,641		118,574
	Meritage Homes Corp. *	10,314		378,730
	New Home Co., Inc. (The) *@	3,433		17,955
	Orleans Homebuilders, Inc. *@§~	4,953		—
	PulteGroup, Inc.	12,367		321,418
	Skyline Champion Corp.	2,906		42,689
	Taylor Morrison Home Corp., Class A *	9,818		156,106
	Tempur Sealy International, Inc. *	6,494		268,852
	Toll Brothers, Inc.	8,091		266,437
	TopBuild Corp. *	4,720		212,400
	TRI Pointe Group, Inc. *@	35,203		384,769
	Tupperware Brands Corp.	11,712		369,748
	Universal Electronics, Inc. *	3,832		96,873
	William Lyon Homes, Class A *	5,111		54,636
	ZAGG, Inc. *	6,699		65,516
				6,525,886
Household Products — 0.5%
	Central Garden & Pet Co. *@	3,317		114,271
	Central Garden & Pet Co., Class A *	7,899		246,844
	Energizer Holdings, Inc.	11,460		517,419
	Orchids Paper Products Co. *@	2,619		2,462
	Spectrum Brands Holdings, Inc.	3,776		159,536
	WD-40 Co. @	4,702		861,688
				1,902,220
Independent Power Producers & Energy Traders — 0.3%
	AES Corp.	2,079		30,062
	Atlantica Yield PLC	1,800		35,280
	Clearway Energy, Inc., Class A	6,260		105,919
	Clearway Energy, Inc., Class C	11,658		201,101
	Ormat Technologies, Inc.	8,775		458,933
	Pattern Energy Group, Inc.	11,892		221,429
	TerraForm Power, Inc., Class A	1,900		21,318
				1,074,042
Industrial Conglomerates — 0.1%
	Carlisle Cos., Inc.	1,200		120,624
	Raven Industries, Inc.	9,755		353,033
				473,657
Insurance — 4.8%
	Ambac Financial Group, Inc. *	10,249		176,693
	American Equity Investment Life Holding Co.	23,614		659,775
	American National Insurance Co.	1,527		194,295
	AMERISAFE, Inc.	5,931		336,228
	Argo Group International Holdings Ltd.	8,037		540,488
	Aspen Insurance Holdings Ltd.	18,484		776,143
	Assurant, Inc.	4,262		381,193
	Assured Guaranty Ltd.	4,329		165,714
	Atlas Financial Holdings, Inc. *	1,218		9,854
	Axis Capital Holdings Ltd.	3,964		204,701
	Brighthouse Financial, Inc. *	5,795		176,632
	Citizens, Inc. *@	11,958		89,924
	CNO Financial Group, Inc.	45,733		680,507
	Crawford & Co., Class B	4,945		44,505
	Crawford & Co., Class A	10,528		93,699
	Donegal Group, Inc., Class A	5,984		81,652
	eHealth, Inc. *	4,939		189,756
	EMC Insurance Group, Inc.	5,700		181,545
	Employers Holdings, Inc.	8,660		363,460
	Enstar Group Ltd. *	1,353		226,722
	Erie Indemnity Co., Class A	856		114,113
	FBL Financial Group, Inc., Class A	6,270		411,626
	FedNat Holding Co.	4,368		87,011
	First Acceptance Corp. *	9,380		9,755
	First American Financial Corp.	6,017		268,599
	Genworth Financial, Inc., Class A *	14,918		69,518
	Global Indemnity Ltd.	3,524		127,675
	Greenlight Capital Re Ltd., Class A *@	9,364		80,718
	Hallmark Financial Services, Inc. *	5,700		60,933
	Hanover Insurance Group, Inc. (The)	1,341		156,589
	HCI Group, Inc.	3,024		153,649
	Health Insurance Innovations, Inc., Class A *@	1,669		44,612
	Heritage Insurance Holdings, Inc.	3,869		56,952
	Horace Mann Educators Corp.	9,539		357,236

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Insurance (Continued)
	Independence Holding Co.	3,520	$	123,904
	Investors Title Co.	393		69,435
	James River Group Holdings Ltd.	829		30,292
	Kemper Corp.	19,148		1,271,044
	Kingstone Cos, Inc.	2,759		48,807
	Kinsale Capital Group, Inc.	400		22,224
	Maiden Holdings Ltd.	18,753		30,942
	MBIA, Inc. *	29,495		263,095
	Mercury General Corp.	12,090		625,174
	National General Holdings Corp.	17,357		420,213
	Navigators Group, Inc. (The)	7,200		500,328
	Old Republic International Corp.	20,110		413,663
	Primerica, Inc.	10,078		984,721
	ProAssurance Corp.	11,624		471,469
	Protective Insurance Corp.	1,818		30,270
	RenaissanceRe Holdings Ltd.	2,378		317,939
	RLI Corp.	12,592		868,722
	Safety Insurance Group, Inc.	3,796		310,551
	Selective Insurance Group, Inc.	13,673		833,233
	State Auto Financial Corp.	9,300		316,572
	Stewart Information Services Corp.	5,055		209,277
	Third Point Reinsurance Ltd. *	655		6,314
	Unico American Corp. *	1,700		10,795
	United Fire Group, Inc.	6,100		338,245
	United Insurance Holdings Corp. @	9,819		163,192
	Universal Insurance Holdings, Inc.	12,620		478,550
	Unum Group	10,825		318,039
	White Mountains Insurance Group Ltd.	28		24,015
				17,073,497
Interactive Media & Services — 0.1%
	ANGI Homeservices, Inc., Class A *	2,836		45,575
	DHI Group, Inc. *	8,881		13,499
	Liberty TripAdvisor Holdings, Inc., Class A*	3,488		55,424
	Meet Group, Inc. (The) *	26,238		121,482
	QuinStreet, Inc. *	5,714		92,738
	Travelzoo, Inc. *	2,482		24,398
	TripAdvisor, Inc. *	2,162		116,618
	Yelp, Inc. *	812		28,412
	Zedge, Inc., Class B *	2,411		5,902
				504,048
Internet & Catalog Retail — 0.6%
	1-800-Flowers.com, Inc., Class A *	8,747		106,976
	Etsy, Inc. *	4,515		214,779
	FTD Cos., Inc. *	7,083		10,483
	Gaia, Inc. *@	1,407		14,576
	Groupon, Inc. *	8,500		27,200
	Liberty Expedia Holdings, Inc., Class A *	1,750		68,442
	Liquidity Services, Inc. *	11,034		68,080
	NutriSystem, Inc.	7,768		340,860
	Overstock.com, Inc. *@	4,366		59,290
	PetMed Express, Inc. @	6,065		141,072
	Shutterfly, Inc. *@	9,241		372,043
	Shutterstock, Inc.	4,226		152,178
	Stamps.com, Inc. *	2,543		395,792
				1,971,771
IT Services — 2.2%
	Alithya Group, Inc., Class A *	2,741		6,496
	Booz Allen Hamilton Holding Corp.	8,116		365,788
	CACI International, Inc., Class A *	6,111		880,167
	Carbonite, Inc. *	7,780		196,523
	Cardtronics PLC, Class A *	5,567		144,742
	Cass Information Systems, Inc.	3,640		192,629
	Computer Task Group, Inc. *	4,027		16,430
	Conduent, Inc. *	3,934		41,818
	CoreLogic, Inc. *	4,731		158,110
	CSG Systems International, Inc.	9,625		305,786
	Endurance International Group Holdings, Inc. *	1,300		8,645
	EPAM Systems, Inc. *	2,126		246,637
	Euronet Worldwide, Inc. *	1,100		112,618
	Everi Holdings, Inc. *	4,400		22,660
	ExlService Holdings, Inc. *	9,262		487,367
	GTT Communications, Inc. *@	7,000		165,620
	Hackett Group, Inc. (The)	7,235		115,832
	Internap Corp. *@	3,747		15,550
	Limelight Networks, Inc. *	30,307		70,918
	Liveramp Hldgs, Inc. *	28,195		1,089,173
	Luxoft Holding, Inc. *	600		18,252
	Mantech International Corp., Class A	5,860		306,449
	MoneyGram International, Inc. *	6,731		13,462
	NIC, Inc.	16,603		207,205
	Okta, Inc. *	2,800		178,640
	Perficient, Inc. *	9,692		215,744
	PFSweb, Inc. *	6,940		35,602
	PRGX Global, Inc. *	4,649		44,026
	Sabre Corp.	7,908		171,129
	Science Applications International Corp.	11,148		710,128
	ServiceSource International, Inc. *	10,651		11,503
	Steel Connect, Inc. *	6,850		11,851
	SYKES Enterprises, Inc. *	11,744		290,429
	Travelport Worldwide Ltd.	21,337		333,284
	TTEC Holdings, Inc.	11,596		331,298
	Twilio, Inc., Class A *@	1,805		161,187
	Virtusa Corp. *	8,074		343,872
				8,027,570
Leisure Equipment & Products — 0.4%
	American Outdoor Brands Corp. *	11,555		148,597
	Brunswick Corp.	1,501		69,721
	Callaway Golf Co.	21,022		321,637
	Clarus Corp.	1,900		19,228
	Escalade, Inc.	1,950		22,328
	Jakks Pacific, Inc. *@	5,129		7,540
	Johnson Outdoors, Inc., Class A	1,000		58,740
	Malibu Boats, Inc., Class A *	4,760		165,648
	Marine Products Corp.	4,652		78,665
	MasterCraft Boat Holdings, Inc. *	2,852		53,332
	Mattel, Inc. *@	11,512		115,005
	Nautilus, Inc. *	7,268		79,221
	Polaris Industries, Inc.	1,300		99,684
	Vista Outdoor, Inc. *	4,965		56,353
				1,295,699
Life Sciences Tools & Services — 0.4%
	Bio-Rad Laboratories, Inc., Class A *	1,300		301,886
	Bio-Techne Corp.	815		117,947
	Bruker Corp.	2,743		81,659
	Cambrex Corp. *	7,454		281,463
	Enzo Biochem, Inc. *	16,338		45,420
	Harvard Bioscience, Inc. *	10,123		32,191

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Life Sciences Tools & Services (Continued)
	Luminex Corp.	10,896	$	251,806
	NeoGenomics, Inc. *	4,184		52,760
	PRA Health Sciences, Inc. *	1,931		177,575
	Syneos Health, Inc. *	2,308		90,820
				1,433,527
Machinery — 5.1%
	Actuant Corp., Class A	13,999		293,839
	AGCO Corp.	2,451		136,447
	Alamo Group, Inc.	3,567		275,800
	Albany International Corp., Class A	9,747		608,505
	Allison Transmission Holdings, Inc.	6,606		290,069
	Altra Industrial Motion Corp.	9,860		247,979
	Astec Industries, Inc.	4,624		139,599
	Barnes Group, Inc.	13,507		724,245
	Blue Bird Corp. *@	2,584		47,003
	Briggs & Stratton Corp.	11,874		155,312
	Chart Industries, Inc. *	6,711		436,416
	CIRCOR International, Inc.	4,536		96,617
	Columbus McKinnon Corp.	5,051		152,237
	Commercial Vehicle Group, Inc. *	3,758		21,421
	Crane Co.	1,462		105,527
	DMC Global, Inc.	3,484		122,358
	Donaldson Co., Inc.	5,841		253,441
	Douglas Dynamics, Inc.	6,768		242,904
	Eastern Co. (The)	1,272		30,757
	EnPro Industries, Inc.	4,740		284,874
	ESCO Technologies, Inc.	5,761		379,938
	Federal Signal Corp.	16,169		321,763
	Flowserve Corp.	3,035		115,391
	Franklin Electric Co., Inc.	13,269		568,975
	FreightCar America, Inc. *	1,800		12,042
	Gardner Denver Holdings, Inc. *	6,065		124,029
	Global Brass & Copper Holdings, Inc.	6,925		174,164
	Gorman-Rupp Co. (The)	6,055		196,243
	Graham Corp.	2,904		66,327
	Greenbrier Cos., Inc. (The)	6,690		264,523
	Harsco Corp. *	19,401		385,304
	Hillenbrand, Inc.	17,458		662,182
	Hurco Cos., Inc.	1,000		35,700
	Hyster-Yale Materials Handling, Inc.	2,000		123,920
	ITT, Inc.	4,948		238,840
	John Bean Technologies Corp.	8,769		629,702
	Kadant, Inc.	3,400		276,964
	Kennametal, Inc.	14,622		486,620
	LB Foster Co., Class A *	3,471		55,189
	Lincoln Electric Holdings, Inc.	2,599		204,931
	Lindsay Corp.	2,399		230,904
	Lydall, Inc. *	3,767		76,508
	Manitex International, Inc. *	1,300		7,384
	Manitowoc Co., Inc. (The) *	7,249		107,068
	Meritor, Inc. *	24,635		416,578
	Middleby Corp. *@	529		54,344
	Milacron Holdings Corp. *	1,600		19,024
	Miller Industries, Inc.	2,958		79,866
	Mueller Industries, Inc.	17,150		400,624
	Mueller Water Products, Inc., Class A	41,506		377,705
	Navistar International Corp. *	6,372		165,353
	NN, Inc.	6,764		45,386
	Omega Flex, Inc.	1,525		82,457
	Oshkosh Corp.	700		42,917
	Park-Ohio Holdings Corp.	3,551		108,980
	Perma-Pipe International Holdings, Inc. *	1,900		16,625
	Proto Labs, Inc. *	5,527		623,390
	RBC Bearings, Inc. *	5,604		734,684
	Rexnord Corp. *	24,475		561,701
	Spartan Motors, Inc.	10,808		78,142
	SPX Corp. *	6,967		195,146
	SPX FLOW, Inc. *	6,533		198,734
	Standex International Corp.	3,825		256,963
	Sun Hydraulics Corp.	5,762		191,241
	Tennant Co.	4,939		257,371
	Terex Corp.	11,454		315,787
	Timken Co. (The)	11,431		426,605
	Titan International, Inc.	16,288		75,902
	Toro Co. (The)	4,255		237,769
	Trimas Corp. *	12,810		349,585
	Trinity Industries, Inc.	5,561		114,501
	Twin Disc, Inc. *	4,162		61,390
	Wabash National Corp.	18,137		237,232
	WABCO Holdings, Inc. *	1,143		122,690
	Watts Water Technologies, Inc., Class A	7,800		503,334
	Welbilt, Inc. *	32,658		362,830
				18,124,817
Marine — 0.2%
	Costamare, Inc.	5,728		25,146
	Eagle Bulk Shipping, Inc. *	3,052		14,070
	Kirby Corp. *	4,949		333,365
	Matson, Inc.	10,731		343,606
	Scorpio Bulkers, Inc.	4,203		23,242
				739,429
Media — 1.6%
	AH Belo Corp., Class A	3,878		13,069
	AMC Networks, Inc., Class A *@	4,654		255,412
	Beasley Broadcast Group, Inc., Class A	1,657		6,214
	Cable One, Inc.	100		82,010
	Central European Media Enterprises Ltd., Class A *@	4,512		12,543
	Clear Channel Outdoor Holdings, Inc., Class A	3,398		17,636
	Entercom Communications Corp., Class A @	4,435		25,324
	Entravision Communications Corp., Class A	20,577		59,879
	EW Scripps Co. (The), Class A	17,365		273,151
	Gannett Co., Inc. @	19,363		165,166
	GCI Liberty, Inc., Class A *@	8,984		369,781
	Gray Television, Inc. *	15,960		235,250
	Hemisphere Media Group, Inc. *	2,950		35,813
	John Wiley & Sons, Inc., Class A	10,578		496,849
	McClatchy Co. (The), Class A *	73		558
	Meredith Corp. @	9,652		501,325
	MSG Networks, Inc., Class A *	12,409		292,356
	National CineMedia, Inc.	9,576		62,053
	New Media Investment Group, Inc.	5,037		58,278
	New York Times Co. (The), Class A @	39,959		890,686
	News Corp., Class A	9,159		103,955
	News Corp., Class B	3,559		41,106
	Nexstar Media Group, Inc. @	11,553		908,528
	Saga Communications, Inc., Class A	1,116		37,085
	Salem Media Group, Inc., Class A	1,041		2,176
	Scholastic Corp.	7,171		288,704
	Sinclair Broadcast Group, Inc., Class A	17,023		448,386
	TechTarget, Inc. *	4,551		55,568
	Tribune Publishing Co. *	4,438		50,327
	Urban One, Inc. *@	6,700		10,787
				5,799,975

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Metals & Mining — 1.5%
	AK Steel Holding Corp. *@	41,100	$	92,475
	Alcoa Corp. *	13,522		359,415
	Allegheny Technologies, Inc. *@	21,731		473,084
	Ampco-Pittsburgh Corp. *	1,498		4,644
	Carpenter Technology Corp.	9,739		346,806
	Century Aluminum Co. *	20,953		153,166
	Cleveland-Cliffs, Inc. *@	42,686		328,255
	Coeur Mining, Inc. *	19,749		88,278
	Commercial Metals Co.	31,042		497,293
	Compass Minerals International, Inc.	7,742		322,764
	Ferroglobe PLC	20,848		33,148
	Ferroglobe Representation & Warranty Insurance Trust §~	24,025		—
	Friedman Industries, Inc.	700		4,935
	Gold Resource Corp.	16,351		65,404
	Haynes International, Inc.	1,520		40,128
	Hecla Mining Co.	48,568		114,620
	Kaiser Aluminum Corp.	4,533		404,752
	Materion Corp.	5,300		238,447
	McEwen Mining, Inc. @	21,736		39,560
	Olympic Steel, Inc.	1,900		27,113
	Reliance Steel & Aluminum Co.	4,576		325,674
	Royal Gold, Inc.	1,525		130,616
	Ryerson Holding Corp. *	6,828		43,290
	Schnitzer Steel Industries, Inc., Class A	8,719		187,894
	SunCoke Energy, Inc. *	18,141		155,106
	TimkenSteel Corp. *@	11,317		98,911
	United States Steel Corp.	9,143		166,768
	Universal Stainless & Alloy Products, Inc. *	1,092		17,701
	Worthington Industries, Inc.	14,522		505,946
				5,266,193
Multi-Utilities — 0.8%
	Avista Corp.	25,390		1,078,567
	Black Hills Corp.	10,799		677,961
	MDU Resources Group, Inc.	5,285		125,994
	NorthWestern Corp.	11,897		707,158
	Unitil Corp.	4,584		232,134
	Vectren Corp.	728		52,402
				2,874,216
Multiline Retail — 0.2%
	Big Lots, Inc.	14,777		427,351
	Dillard's, Inc., Class A @	1,249		75,327
	J.C. Penney Co., Inc. *@	37,504		39,004
	Ollie's Bargain Outlet Holdings, Inc. *	4,252		282,801
	Tuesday Morning Corp. *@	9,803		16,665
				841,148
Oil, Gas & Consumable Fuels — 2.7%
	Abraxas Petroleum Corp. *	28,096		30,625
	Adams Resources & Energy, Inc.	900		34,839
	Antero Resources Corp. *	14,321		134,474
	Approach Resources, Inc. *@	1,249		1,089
	Arch Coal, Inc., Class A @	5,549		460,512
	Ardmore Shipping Corp. *	1,612		7,528
	Bonanza Creek Energy, Inc. *	1,752		36,214
	California Resources Corp. *	1,945		33,143
	Callon Petroleum Co. *@	31,063		201,599
	Carrizo Oil & Gas, Inc. *	559		6,311
	Centennial Resource Development, Inc., Class A *@	12,753		140,538
	Chesapeake Energy Corp. *@	18,660		39,186
	Clean Energy Fuels Corp. *	22,203		38,189
	Cloud Peak Energy, Inc. *	9,186		3,365
	CNX Resources Corp. *	19,013		217,128
	CONSOL Energy, Inc. *	2,376		75,343
	Contango Oil & Gas Co. *	3,109		10,104
	CVR Energy, Inc.	1,556		53,651
	Delek US Holdings, Inc.	23,251		755,890
	Denbury Resources, Inc. *@	32,490		55,558
	DHT Holdings, Inc.	19,547		76,624
	Dorian LPG Ltd. *	8,036		46,850
	Earthstone Energy, Inc. Class A *	3,602		16,281
	Eclipse Resources Corp. *@	9,526		10,002
	EnLink Midstream LLC @	18,577		176,296
	EP Energy Corp., Class A *	9,937		6,956
	Evolution Petroleum Corp.	8,084		55,133
	Extraction Oil & Gas, Inc. *@	1,577		6,765
	GasLog Ltd.	18,166		299,012
	Goodrich Petroleum Corp. *	401		5,414
	Green Plains, Inc.	9,194		120,533
	Gulfport Energy Corp. *	12,179		79,772
	Halcon Resources Corp. *@	7,203		12,245
	HighPoint Resources Corp. *	21,993		54,763
	International Seaways, Inc. *	4,383		73,810
	Kosmos Energy Ltd. *	63,708		259,292
	Laredo Petroleum, Inc. *	36,599		132,488
	Matador Resources Co. *@	18,366		285,224
	Midstates Petroleum Co., Inc. *	579		4,348
	Murphy Oil Corp.	10,119		236,683
	NACCO Industries, Inc., Class A	1,000		33,900
	Newfield Exploration Co. *	8,397		123,100
	Oasis Petroleum, Inc. *	38,552		213,193
	Overseas Shipholding Group, Inc., Class A *	11,837		19,649
	Pacific Ethanol, Inc. *	12,792		11,014
	Panhandle Oil & Gas, Inc., Class A	5,216		80,848
	Par Pacific Holdings, Inc. *	4,135		58,634
	Parsley Energy, Inc., Class A *	12,415		198,392
	PBF Energy, Inc., Class A	23,970		783,100
	PDC Energy, Inc. *	11,615		345,662
	Peabody Energy Corp.	15,042		458,480
	Penn Virginia Corp. *	1,880		101,633
	QEP Resources, Inc. *	23,580		132,755
	Range Resources Corp. @	9,528		91,183
	Renewable Energy Group, Inc. *@	11,376		292,363
	Resolute Energy Corp. *@	2,115		61,293
	Rex American Resources Corp. *	1,575		107,273
	Ring Energy, Inc. *	11,864		60,269
	Sanchez Energy Corp. *@	9,678		2,613
	SandRidge Energy, Inc. *	4,227		32,168
	Scorpio Tankers, Inc. @	42,198		74,269
	SemGroup Corp., Class A	9,580		132,012
	Ship Finance International Ltd.	20,026		210,874
	SilverBow Resources, Inc. *	1,024		24,207
	SM Energy Co.	13,539		209,584
	Southwestern Energy Co. *@	85,859		292,779
	SRC Energy, Inc. *@	47,630		223,861
	Talos Energy, Inc. *	4,465		72,869
	Teekay Corp. @	5,035		16,817
	Ultra Petroleum Corp. *@	7,738		5,882

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Oil, Gas & Consumable Fuels (Continued)
	W&T Offshore, Inc. *	31,492	$	129,747
	Whiting Petroleum Corp. *@	13,670		310,172
	World Fuel Services Corp.	6,251		133,834
	WPX Energy, Inc. *	20,308		230,496
				9,568,702
Paper & Forest Products — 0.7%
	Boise Cascade Co.	9,706		231,488
	Clearwater Paper Corp. *	5,623		137,033
	Domtar Corp.	13,884		487,745
	Louisiana-Pacific Corp.	32,123		713,773
	Mercer International, Inc.	13,909		145,210
	Neenah Paper, Inc.	3,300		194,436
	P. H. Glatfelter Co.	10,448		101,972
	Resolute Forest Products, Inc.	8,572		67,976
	Schweitzer-Mauduit International, Inc.	8,407		210,595
	Verso Corp. Class A *	5,404		121,050
				2,411,278
Personal Products — 0.8%
	CCA Industries, Inc. *	556		1,223
	Coty, Inc., Class A	30,991		203,301
	Edgewell Personal Care Co. *	5,042		188,319
	Inter Parfums, Inc.	10,446		684,944
	Medifast, Inc.	3,532		441,571
	Natural Alternatives International, Inc. *	1,000		9,830
	Natural Health Trends Corp. @	1,100		20,339
	Natures Sunshine Products, Inc. *	1,700		13,855
	Nu Skin Enterprises, Inc., Class A	8,973		550,314
	Revlon, Inc., Class A *@	5,298		133,456
	United-Guardian, Inc.	600		11,004
	USANA Health Sciences, Inc. *	6,574		773,957
				3,032,113
Pharmaceuticals — 0.8%
	Adamis Pharmaceuticals Corp. *@	2,905		6,536
	Akorn, Inc. *	7,475		25,340
	Amneal Pharmaceuticals, Inc. *@	16,335		221,012
	Amphastar Pharmaceuticals, Inc. *	12,394		246,641
	ANI Pharmaceuticals, Inc. *	2,753		123,940
	Aratana Therapeutics, Inc. *	16,344		100,189
	Assertio Therapeutics, Inc. *	7,708		27,826
	Catalent, Inc. *	3,187		99,371
	Corcept Therapeutics, Inc. *@	6,100		81,496
	Cumberland Pharmaceuticals, Inc. *	5,912		37,246
	Endo International PLC *	13,442		98,127
	Horizon Pharma PLC *	8,517		166,422
	Innoviva, Inc. *	9,199		160,523
	Intra-Cellular Therapies, Inc. *	3,760		42,826
	Lannett Co., Inc. *@	4,608		22,856
	Mallinckrodt PLC *@	7,995		126,321
	Melinta Therapeutics, Inc. *@	3,225		2,556
	Otonomy, Inc. *	6,289		11,635
	Perrigo Co. PLC	2,776		107,570
	Phibro Animal Health Corp., Class A	3,593		115,551
	Prestige Consumer Healthcare Inc *@	11,257		347,616
	SCYNEXIS, Inc. *	9,050		4,359
	Supernus Pharmaceuticals, Inc. *	12,411		412,293
	Taro Pharmaceutical Industries Ltd.	250		21,160
	Tetraphase Pharmaceuticals, Inc. *	11,038		12,473
	Zogenix, Inc. *@	2,380		86,775
	Zynerba Pharmaceuticals, Inc. *@	1,626		4,829
				2,713,489
Professional Services — 2.1%
	Acacia Research Corp. *	7,978		23,774
	Asgn, Inc. *	15,403		839,464
	Barrett Business Services, Inc.	1,975		113,069
	CBIZ, Inc. *	12,918		254,485
	CRA International, Inc.	2,200		93,610
	Dun & Bradstreet Corp.	1,122		160,154
	Exponent, Inc.	13,302		674,544
	Forrester Research, Inc.	4,906		219,298
	Franklin Covey Co. *	4,570		102,048
	FTI Consulting, Inc. *	9,657		643,542
	GP Strategies Corp. *	5,007		63,138
	Heidrick & Struggles International, Inc.	4,281		133,524
	Hill International, Inc. *	10,450		32,186
	Huron Consulting Group, Inc. *	5,178		265,683
	ICF International, Inc.	4,955		320,985
	Innerworkings, Inc. *	15,440		57,746
	Insperity, Inc.	11,400		1,064,304
	Kelly Services, Inc., Class A	7,420		151,962
	Kforce, Inc.	6,360		196,651
	Korn/Ferry International	13,550		535,767
	Mastech Digital, Inc. *	2,122		13,369
	Mistras Group, Inc. *	6,212		89,329
	Navigant Consulting, Inc.	6,801		163,564
	RCM Technologies, Inc. *	2,995		9,285
	Resources Connection, Inc.	8,502		120,728
	Robert Half International, Inc.	3,097		177,148
	TriNet Group, Inc. *	13,099		549,503
	TrueBlue, Inc. *	10,021		222,967
	Volt Information Sciences, Inc. *	2,024		4,352
	WageWorks, Inc. *	800		21,728
	Willdan Group, Inc. *	3,462		121,101
				7,439,008
Real Estate Management & Development — 0.6%
	Alexander & Baldwin, Inc.	6,020		110,648
	Altisource Portfolio Solutions SA *@	5,434		122,211
	Consolidated-Tomoka Land Co.	1,549		81,322
	Forestar Group, Inc. *	1,150		15,928
	Griffin Industrial Realty, Inc.	420		13,398
	HFF, Inc., Class A	9,968		330,539
	Howard Hughes Corp. (The) *	1,408		137,449
	Kennedy-Wilson Holdings, Inc.	22,178		402,974
	Marcus & Millichap, Inc. *	7,383		253,458
	Maui Land & Pineapple Co., Inc. *	3,255		32,290
	Newmark Group, Inc., Class A	27,250		218,545
	Rafael Holdings, Inc., Class B *	3,410		27,041
	RE/MAX Holdings, Inc., Class A	3,519		108,209
	Realogy Holdings Corp. @	5,347		78,494
	RMR Group, Inc. (The), Class A	1,159		61,520
	St. Joe Co. (The) *	3,249		42,789
	Stratus Properties, Inc. *	313		7,506
	Tejon Ranch Co. *	6,786		112,512
				2,156,833
Road & Rail — 0.9%
	ArcBest Corp.	6,195		212,241
	Avis Budget Group, Inc. *	21,720		488,266
	Covenant Transportation Group, Inc., Class A *	3,731		71,635
	Genesee & Wyoming, Inc., Class A *	2,026		149,964
	Heartland Express, Inc.	22,347		408,950
	Landstar System, Inc.	3,248		310,736
	Marten Transport Ltd.	14,945		241,960
	P.A.M. Transportation Services, Inc. *	1,523		60,021
	Saia, Inc. *	6,856		382,702

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Road & Rail (Continued)
	Schneider National, Inc., Class B	1,500	$	28,005
	Universal Truckload Services, Inc.	3,300		59,697
	USA Truck, Inc. *	3,632		54,371
	Werner Enterprises, Inc.	19,904		587,964
	YRC Worldwide, Inc. *	11,286		35,551
				3,092,063
Semiconductors & Semiconductor Equipment — 3.4%
	Advanced Energy Industries, Inc. *	10,677		458,364
	Alpha & Omega Semiconductor Ltd. *	6,435		65,573
	Ambarella, Inc. *	1,829		63,978
	Amkor Technology, Inc. *	65,698		430,979
	Amtech Systems, Inc. *@	4,964		22,487
	Axcelis Technologies, Inc. *	8,841		157,370
	AXT, Inc. *@	13,995		60,878
	Brooks Automation, Inc.	16,972		444,327
	Cabot Microelectronics Corp.	6,595		628,833
	Ceva, Inc. *	4,958		109,522
	Cirrus Logic, Inc. *	7,387		245,101
	Cohu, Inc.	8,645		138,925
	Cree, Inc. *@	18,393		786,761
	Cyberoptics Corp. *	2,334		41,148
	Cypress Semiconductor Corp.	1,769		22,502
	Diodes, Inc. *	11,325		365,344
	DSP Group, Inc. *	3,919		43,893
	Entegris, Inc.	31,223		870,966
	First Solar, Inc. *	4,906		208,284
	FormFactor, Inc. *	16,807		236,811
	GSI Technology, Inc. *	8,514		43,762
	Impinj, Inc. *	1,813		26,379
	Integrated Device Technology, Inc. *	21,680		1,049,962
	inTEST Corp. *	5,556		34,058
	Kopin Corp. *@	21,467		21,445
	Kulicke & Soffa Industries, Inc.	16,297		330,340
	Lattice Semiconductor Corp. *	28,018		193,885
	MACOM Technology Solutions Holdings, Inc. *@	447		6,486
	Magnachip Semiconductor Corp. *@	4,588		28,491
	MaxLinear, Inc. *@	9,792		172,339
	MKS Instruments, Inc.	9,585		619,287
	Monolithic Power Systems, Inc.	1,947		226,339
	Nanometrics, Inc. *	5,940		162,340
	NeoPhotonics Corp. *	5,402		35,005
	NVE Corp.	1,137		99,533
	PDF Solutions, Inc. *@	9,388		79,141
	Photronics, Inc. *	16,333		158,103
	Pixelworks, Inc. *	6,964		20,196
	Power Integrations, Inc.	7,641		465,948
	Rambus, Inc. *	23,915		183,428
	Rudolph Technologies, Inc. *	9,379		191,988
	Semtech Corp. *	16,278		746,672
	Silicon Laboratories, Inc. *	10,644		838,854
	SolarEdge Technologies, Inc. *@	1,621		56,897
	Synaptics, Inc. *@	7,794		290,015
	Ultra Clean Holdings, Inc. *@	8,834		74,824
	Universal Display Corp. @	1,672		156,449
	Veeco Instruments, Inc. *	6,421		47,580
	Versum Materials, Inc.	3,500		97,020
	Xperi Corp.	11,774		216,524
				12,075,336
Software — 2.5%
	ACI Worldwide, Inc. *	29,488		815,933
	Agilysys, Inc. *	8,566		122,836
	American Software, Inc., Class A	7,098		74,174
	Appfolio, Inc., Class A *	4,708		278,808
	Aspen Technology, Inc. *	1,631		134,035
	Asure Software, Inc. *@	4,622		23,480
	Aware, Inc. *	4,900		17,689
	Blackbaud, Inc.	7,542		474,392
	Bottomline Technologies de, Inc. *	3,996		191,808
	Bsquare Corp. *	2,300		3,565
	Ebix, Inc. @	2,155		91,717
	eGain Corp. *	6,644		43,651
	Ellie Mae, Inc. *@	2,021		126,979
	Envestnet, Inc. *	1,760		86,574
	Fair Isaac Corp. *	1,394		260,678
	Finjan Holdings, Inc. *	9,872		24,779
	Globant SA *	760		42,803
	GSE Systems, Inc. *	2,896		6,082
	Guidewire Software, Inc. *	2,842		228,014
	HubSpot, Inc. *	1,392		175,016
	j2 Global, Inc.	3,394		235,476
	LogMeIn, Inc.	1,838		149,926
	Manhattan Associates, Inc. *	2,600		110,162
	MicroStrategy, Inc., Class A *	1,426		182,171
	Monotype Imaging Holdings, Inc.	9,997		155,153
	New Relic, Inc. *	2,806		227,202
	Nutanix, Inc., Class A *	659		27,408
	OneSpan, Inc. *	7,796		100,958
	Paycom Software, Inc. *@	3,355		410,820
	Paylocity Holding Corp. *	500		30,105
	Pegasystems, Inc.	15,185		726,298
	Progress Software Corp.	13,610		483,019
	Proofpoint, Inc. *	2,951		247,323
	QAD, Inc., Class B	1,219		35,985
	QAD, Inc., Class A	4,478		176,120
	Qualys, Inc. *	4,710		352,025
	RealNetworks, Inc. *	7,399		17,092
	RealPage, Inc. *	4,600		221,674
	RingCentral, Inc., Class A *	2,517		207,501
	Rubicon Project, Inc. (The) *	6,096		22,738
	Seachange International, Inc. *	5,137		6,473
	Tableau Software, Inc., Class A *	1,210		145,200
	Teradata Corp. *	3,316		127,202
	TiVo Corp.	30,394		286,007
	Trade Desk Inc/The *@	344		39,925
	Verint Systems, Inc. *	12,694		537,083
	Zendesk, Inc. *	5,613		327,631
	Zix Corp. *	16,383		93,875
				8,905,565
Specialty Retail — 3.4%
	Aaron's, Inc.	18,376		772,711
	Abercrombie & Fitch Co., Class A	16,988		340,609
	America's Car-Mart, Inc. *	2,098		152,000
	American Eagle Outfitters, Inc.	43,288		836,757
	Asbury Automotive Group, Inc. *	4,835		322,301
	Ascena Retail Group, Inc. *	61,700		154,867
	At Home Group, Inc. *@	6,138		114,535
	AutoNation, Inc. *@	900		32,130
	Barnes & Noble Education, Inc. *	5,686		22,801
	Barnes & Noble, Inc. @	8,824		62,562

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Specialty Retail (Continued)
	Bed Bath & Beyond, Inc. @	3,408	$	38,579
	Big 5 Sporting Goods Corp. @	3,022		7,827
	Boot Barn Holdings, Inc. *	5,243		89,288
	Buckle, Inc. (The)	12,544		242,601
	Build-A-Bear Workshop, Inc. *	5,546		21,907
	Caleres, Inc.	11,677		324,971
	Cato Corp. (The), Class A	6,792		96,922
	Chico's FAS, Inc.	15,662		88,020
	Children's Place, Inc. (The) @	4,800		432,432
	Citi Trends, Inc.	4,246		86,576
	Conn's, Inc. *@	7,107		134,038
	Destination Maternity Corp. *	2,800		7,952
	Dick's Sporting Goods, Inc. @	10,466		326,539
	DSW, Inc., Class A	17,801		439,685
	Express, Inc. *@	9,133		46,670
	Five Below, Inc. *	13,253		1,356,047
	Floor & Decor Holdings, Inc., Class A *@	1,960		50,764
	Foot Locker, Inc.	4,891		260,201
	Francesca's Holdings Corp. *@	4,206		4,083
	GameStop Corp., Class A @	11,233		141,760
	Genesco, Inc. *	5,042		223,361
	Group 1 Automotive, Inc.	2,384		125,684
	Guess?, Inc.	19,715		409,481
	Haverty Furniture Cos., Inc.	4,500		84,510
	Hibbett Sports, Inc. *@	5,873		83,984
	Kirkland's, Inc. *	5,977		56,961
	Lithia Motors, Inc., Class A @	5,539		422,792
	MarineMax, Inc. *	6,241		114,273
	Monro, Inc. @	9,650		663,438
	Murphy USA, Inc. *	9,253		709,150
	Office Depot, Inc.	67,627		174,478
	Penske Auto Group, Inc. @	1,742		70,237
	Pier 1 Imports, Inc. @	10,058		3,076
	Rent-A-Center, Inc. *	11,080		179,385
	RTW RetailWinds, Inc. *	9,814		27,774
	Sally Beauty Holdings, Inc. *@	4,925		83,971
	Shoe Carnival, Inc. @	2,788		93,426
	Signet Jewelers Ltd. @	9,096		288,980
	Sleep Number Corp. *	13,560		430,259
	Sonic Automotive, Inc., Class A @	8,861		121,927
	Sportsman's Warehouse Holdings, Inc. *@	7,232		31,676
	Stage Stores, Inc. @	7,304		5,405
	Tailored Brands, Inc. @	7,289		99,422
	Tandy Leather Factory, Inc. *	3,611		20,510
	Tile Shop Holdings, Inc.	4,471		24,501
	Tilly's, Inc., Class A	3,349		36,370
	Trans World Entertainment Corp. *	4,400		2,772
	TravelCenters of America LLC *	6,721		25,271
	Urban Outfitters, Inc. *	4,462		148,138
	Vitamin Shoppe, Inc. *	3,037		14,395
	Winmark Corp.	1,294		205,746
	Zumiez, Inc. *	7,694		147,494
				12,136,982
Textiles, Apparel & Luxury Goods — 1.3%
	Carter's, Inc.	1,548		126,348
	Columbia Sportswear Co.	1,363		114,615
	Crocs, Inc. *	21,632		561,999
	Culp, Inc.	3,922		74,126
	Deckers Outdoor Corp. *	7,708		986,239
	Delta Apparel, Inc. *	1,153		19,866
	Fossil Group, Inc. *@	2,477		38,963
	G-III Apparel Group Ltd. *	11,805		329,242
	Hanesbrands, Inc. @	8,778		109,988
	Lakeland Industries, Inc. *	3,373		35,214
	Movado Group, Inc.	4,486		141,847
	Oxford Industries, Inc.	4,436		315,133
	PVH Corp.	1,200		111,540
	Rocky Brands, Inc.	1,000		26,000
	Skechers U.S.A., Inc., Class A *	5,619		128,619
	Steven Madden Ltd.	19,097		577,875
	Superior Group of Cos., Inc.	2,200		38,830
	Unifi, Inc. *	4,533		103,534
	Vera Bradley, Inc. *	11,516		98,692
	Wolverine World Wide, Inc.	26,290		838,388
				4,777,058
Thrifts & Mortgage Finance — 2.1%
	Axos Financial, Inc. *@	16,994		427,909
	BankFinancial Corp.	4,900		73,255
	Beneficial Bancorp, Inc.	18,038		257,763
	Capitol Federal Financial, Inc.	32,013		408,806
	Citizens Community Bancorp, Inc.	400		4,360
	Dime Community Bancshares, Inc.	9,362		158,967
	ESSA Bancorp, Inc.	1,900		29,659
	Federal Agricultural Mortgage Corp., Class C	1,400		84,616
	First Defiance Financial Corp.	4,802		117,697
	Flagstar Bancorp, Inc. *	13,420		354,288
	FS Bancorp, Inc.	481		20,625
	Hingham Institution for Savings	348		68,813
	Home Bancorp, Inc.	994		35,188
	HomeStreet, Inc. *	6,890		146,275
	HopFed Bancorp, Inc.	415		5,515
	Impac Mortgage Holdings, Inc. *@	301		1,138
	Kearny Financial Corp.	27,119		347,666
	LendingTree, Inc. *@	2,115		464,391
	Meridian Bancorp, Inc.	11,660		166,971
	Meta Financial Group, Inc.	10,173		197,254
	MGIC Investment Corp. *	12,435		130,070
	Mr Cooper Group, Inc. *@	5,663		66,087
	New York Community Bancorp, Inc. @	24,745		232,850
	NMI Holdings, Inc., Class A *	8,926		159,329
	Northfield Bancorp, Inc.	12,861		174,267
	Northwest Bancshares, Inc.	21,987		372,460
	OceanFirst Financial Corp.	7,799		175,555
	Ocwen Financial Corp. *	14,766		19,786
	Oritani Financial Corp.	12,272		181,012
	PennyMac Financial Services, Inc.	1,561		33,187
	Provident Financial Holdings, Inc.	1,124		17,422
	Provident Financial Services, Inc.	14,994		361,805
	Radian Group, Inc.	8,095		132,434
	Riverview Bancorp, Inc.	7,484		54,484
	SI Financial Group, Inc.	2,065		26,287
	Southern Missouri Bancorp, Inc.	686		23,255
	Territorial Bancorp, Inc.	2,866		74,459
	Timberland Bancorp, Inc.	2,600		57,980
	Trustco Bank Corp. NY	23,642		162,184
	United Community Financial Corp.	14,792		130,909
	United Financial Bancorp, Inc.	12,844		188,807
	Walker & Dunlop, Inc.	7,823		338,345
	Washington Federal, Inc.	22,298		595,580
	Waterstone Financial, Inc.	8,664		145,209
	Western New England Bancorp, Inc.	8,306		83,392
	WSFS Financial Corp.	6,327		239,857
				7,548,168
Tobacco — 0.2%
	Pyxus International, Inc. *@	3,932		46,633

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Tobacco (Continued)
	Turning Point Brands, Inc.	1,280	$	34,842
	Universal Corp.	5,600		303,240
	Vector Group Ltd. @	38,305		372,708
				757,423
Trading Companies & Distributors — 1.5%
	Air Lease Corp.	2,048		61,870
	Applied Industrial Technologies, Inc.	9,141		493,066
	Beacon Roofing Supply, Inc. *	16,149		512,246
	BMC Stock Holdings, Inc. *	20,166		312,170
	CAI International, Inc. *	4,985		115,802
	DXP Enterprises, Inc. *	5,842		162,641
	GATX Corp. @	11,502		814,457
	GMS, Inc. *	2,900		43,094
	H&E Equipment Services, Inc.	10,934		223,272
	Herc Holdings, Inc. *	5,162		134,160
	Huttig Building Products, Inc. *@	1,858		3,344
	Kaman Corp., Class A	7,224		405,194
	Lawson Products, Inc. *	1,575		49,770
	MRC Global, Inc. *	16,111		197,038
	MSC Industrial Direct Co., Class A	936		71,997
	Nexeo Solutions, Inc. *@	2,400		20,616
	NOW, Inc. *	21,709		252,693
	Rush Enterprises, Inc., Class A	8,185		282,219
	Systemax, Inc.	8,559		204,475
	Textainer Group Holdings Ltd. *	6,922		68,943
	Titan Machinery, Inc. *	5,750		75,612
	Triton International Ltd.	13,664		424,540
	Univar, Inc. *	411		7,291
	Veritiv Corp. *	1,000		24,970
	Watsco, Inc.	741		103,103
	WESCO International, Inc. *	7,914		379,872
	Willis Lease Finance Corp. *	900		31,140
				5,475,595
Water Utilities — 0.7%
	American States Water Co.	10,799		723,965
	Aqua America, Inc.	5,414		185,105
	Artesian Resources Corp., Class A	2,492		86,896
	California Water Service Group	11,688		557,050
	Connecticut Water Service, Inc.	3,754		251,030
	Consolidated Water Co., Ltd.	2,822		32,905
	Middlesex Water Co.	5,644		301,107
	Pure Cycle Corp. *	1,000		9,930
	SJW Corp.	4,400		244,728
	York Water Co.	3,670		117,660
				2,510,376
Wireless Telecommunication Services — 0.4%
	Boingo Wireless, Inc. *	10,681		219,708
	Shenandoah Telecommunications Co.	13,592		601,446
	Spok Holdings, Inc.	5,786		76,722
	Telephone & Data Systems, Inc.	18,553		603,715
	United States Cellular Corp. *	933		48,488
				1,550,079
	TOTAL COMMON STOCKS
	(Identified Cost $267,007,460)			356,594,221
RIGHTS AND WARRANTS — 0.0%
Capital Markets — 0.0%
	Newsstar Financial, Inc. CVR *§¶	13,144		3,412
Media — 0.0%
	Media General, Inc. CVR *§¶	3,965		—
Pharmaceuticals — 0.0%
	FRD Acquisition Co. CVR *§~¶	656		—
	TOTAL RIGHTS AND WARRANTS
	(Identified Cost $3,412)			3,412
Preferred Stocks — 0.0%
Media — 0.0%
	GCI Liberty, Inc., 5.000%	1,826		44,244
	TOTAL PREFERRED STOCKS
	(Identified Cost $7,177)			44,244
SHORT-TERM INVESTMENTS — 1.3%
Investment Company — 0.2%
	State Street Institutional U.S. Government Money Market Fund, 2.27%	578,745		578,745
Collateral For Securities On Loan — 1.1%
	State Street Navigator Securities Lending Government Money Market Portfolio, 2.350%	3,912,946		3,912,946
	TOTAL SHORT-TERM INVESTMENTS
	(Identified Cost $4,491,691)			4,491,691
Total Investments — 100.8%
	(Identified Cost $271,509,740)			361,133,568
	Liabilities, Less Cash and Other Assets — (0.8%)			(2,845,911	)
Net Assets — 100.0%			$	358,287,657

†	See Note 1
*	Non-income producing security
@	A portion or all of the security were held on loan. As of December 31, 2018, the market value of the securities on loan was $32,629,026.
§	Fair valued security. Fair values are determined pursuant to procedures approved by the Fund's Board of Trustees. See Note 1
~	Bankrupt/delisted security
¶	Contingent value rights based on future performance.

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, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 99.8%
Aerospace & Defense — 1.2%
	Arconic, Inc.	20,047	$	337,992
	Curtiss-Wright Corp.	599		61,170
	L3 Technologies, Inc.	9,113		1,582,564
	Textron, Inc.	43,757		2,012,384
	United Technologies Corp.	19,401		2,065,819
				6,059,929
Air Freight & Logistics — 0.8%
	FedEx Corp.	19,292		3,112,378
	XPO Logistics, Inc. *	15,841		903,571
				4,015,949
Airlines — 1.6%
	Alaska Air Group, Inc.	7,536		458,566
	Delta Air Lines, Inc.	65,959		3,291,354
	JetBlue Airways Corp. *	53,475		858,808
	Southwest Airlines Co.	23,559		1,095,022
	United Continental Holdings, Inc. *	34,619		2,898,649
				8,602,399
Auto Components — 0.8%
	Autoliv, Inc.	11,805		829,065
	BorgWarner, Inc.	24,241		842,132
	Gentex Corp.	25,695		519,296
	Goodyear Tire & Rubber Co. (The)	33,229		678,204
	Lear Corp.	6,743		828,445
	Veoneer, Inc. *	11,805		278,244
				3,975,386
Automobiles — 1.3%
	Ford Motor Co.	260,489		1,992,741
	General Motors Co.	147,663		4,939,327
	Harley-Davidson, Inc.	1,792		61,143
				6,993,211
Beverages — 0.3%
	Constellation Brands, Inc., Class A	2,421		389,345
	Molson Coors Brewing Co., Class B	18,590		1,044,015
				1,433,360
Biotechnology — 0.1%
	United Therapeutics Corp. *	3,786		412,295
Building Products — 0.5%
	Johnson Controls International PLC	44,717		1,325,859
	Owens Corning	19,528		858,841
	USG Corp.	6,301		268,801
				2,453,501
Capital Markets — 2.7%
	Bank of New York Mellon Corp. (The)	82,786		3,896,737
	Goldman Sachs Group, Inc. (The)	29,210		4,879,530
	Invesco Ltd.	13,425		224,735
	Janus Henderson Group PLC	710		14,711
	Morgan Stanley	114,092		4,523,748
	State Street Corp.	5,158		325,315
				13,864,776
Chemicals — 1.9%
	Air Products & Chemicals, Inc.	7,452		1,192,693
	Albemarle Corp. @	9,985		769,544
	Ashland Global Holdings, Inc.	6,893		489,127
	CF Industries Holdings, Inc.	25,378		1,104,197
	DowDuPont, Inc.	55,539		2,970,226
	Eastman Chemical Co.	23,262		1,700,685
	Huntsman Corp.	13,051		251,754
	LyondellBasell Industries NV, Class A	5,553		461,787
	Valvoline, Inc.	20,825		402,964
	Westlake Chemical Corp.	7,168		474,306
				9,817,283
Commercial Banks — 11.3%
	Bank of America Corp.	419,567		10,338,131
	BB&T Corp.	38,546		1,669,813
	CIT Group, Inc.	9,004		344,583
	Citigroup, Inc.	147,662		7,687,284
	Citizens Financial Group, Inc.	18,613		553,364
	Fifth Third Bancorp	86,881		2,044,310
	Huntington Bancshares, Inc.	122,871		1,464,622
	JPMorgan Chase & Co.	119,432		11,658,952
	KeyCorp	66,158		977,815
	M&T Bank Corp.	3,071		439,552
	PacWest Bancorp	5,207		173,289
	People's United Financial, Inc.	5,834		84,185
	PNC Financial Services Group, Inc. (The)	21,328		2,493,456
	Regions Financial Corp.	155,307		2,078,008
	SunTrust Banks, Inc.	30,728		1,549,920
	Wells Fargo & Co.	316,262		14,573,353
	Zions Bancorp	23,470		956,168
				59,086,805
Commercial Services & Supplies — 0.6%
	Republic Services, Inc.	40,514		2,920,654
Communications Equipment — 1.1%
	ARRIS International PLC *	15,215		465,123
	Cisco Systems, Inc.	89,497		3,877,905
	Juniper Networks, Inc.	57,350		1,543,288
				5,886,316
Computers & Peripherals — 1.6%
	Dell Technologies, Inc., Class C *	10,856		530,533
	Hewlett Packard Enterprise Co.	168,468		2,225,462
	HP, Inc.	196,800		4,026,528
	Western Digital Corp.	29,659		1,096,493
	Xerox Corp.	34,600		683,696
				8,562,712
Construction & Engineering — 0.3%
	AECOM *	11,462		303,743
	Arcosa, Inc. *	447		12,377
	Fluor Corp.	17,248		555,386
	Jacobs Engineering Group, Inc.	8,552		499,950
	Quanta Services, Inc.	13,887		417,999
				1,789,455
Construction Materials — 0.4%
	Martin Marietta Materials, Inc.	4,728		812,601
	Vulcan Materials Co.	11,511		1,137,287
				1,949,888
Consumer Finance — 1.1%
	Ally Financial, Inc.	66,748		1,512,510
	Capital One Financial Corp.	47,279		3,573,820
	Santander Consumer USA Holdings, Inc.	13,899		244,483
	Synchrony Financial	22,199		520,788
				5,851,601
Containers & Packaging — 0.6%
	Ball Corp.	8,846		406,739
	International Paper Co.	34,560		1,394,842
	Packaging Corp. of America	2,898		241,867
	Sonoco Products Co.	611		32,462
	WestRock Co.	24,453		923,345
				2,999,255
Distributors — 0.2%
	LKQ Corp. *	47,648		1,130,687

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

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Diversified Financial Services — 2.4%
	Berkshire Hathaway, Inc., Class B *	58,309	$	11,905,532
	Jefferies Financial Group, Inc.	6,993		121,398
	Voya Financial, Inc.	7,020		281,783
				12,308,713
Diversified Telecommunication Services — 4.4%
	AT&T, Inc.	728,637		20,795,300
	CenturyLink, Inc.	134,795		2,042,144
				22,837,444
Electrical Equipment — 0.7%
	Eaton Corp. PLC	40,532		2,782,927
	nVent Electric PLC	21,089		473,659
	Sensata Technologies Holding PLC *	4,184		187,611
				3,444,197
Electronic Equipment, Instruments & Components — 1.1%
	Arrow Electronics, Inc. *	17,315		1,193,869
	Avnet, Inc.	10,213		368,689
	Corning, Inc.	75,228		2,272,638
	Flex Ltd. *	31,420		239,106
	Jabil, Inc.	7,464		185,033
	TE Connectivity Ltd.	18,004		1,361,643
				5,620,978
Energy Equipment & Services — 0.7%
	Baker Hughes a GE Co.	20,187		434,020
	Helmerich & Payne, Inc.	9,938		476,428
	National Oilwell Varco, Inc.	29,834		766,734
	Schlumberger Ltd.	37,399		1,349,356
	TechnipFMC PLC	34,156		668,774
				3,695,312
Entertainment — 0.2%
	Liberty Braves Group, Class A *	1		25
	Liberty Braves Group, Class C *	877		21,829
	Liberty Media Corp-Liberty Formula One, Class A *@	1,097		32,603
	Liberty Media Corp-Liberty Formula One, Class C *@	2,194		67,356
	Madison Square Garden Co. (The), Class A *	443		118,591
	Viacom, Inc., Class B	32,985		847,714
				1,088,118
Food & Staples Retailing — 3.0%
	Kroger Co. (The)	38,075		1,047,062
	US Foods Holding Corp. *	20,840		659,378
	Walgreens Boots Alliance, Inc.	63,418		4,333,352
	Walmart, Inc.	104,402		9,725,046
				15,764,838
Food Products — 1.9%
	Archer-Daniels-Midland Co.	27,404		1,122,742
	Bunge Ltd.	12,845		686,437
	Conagra Brands, Inc.	6,443		137,622
	Ingredion, Inc.	3,073		280,872
	J.M. Smucker Co. (The)	18,460		1,725,825
	Kraft Heinz Co. (The)	3,992		171,816
	Mondelez International, Inc., Class A	74,783		2,993,564
	Post Holdings, Inc. *	7,076		630,684
	Seaboard Corp.	43		152,134
	Tyson Foods, Inc., Class A	41,844		2,234,470
				10,136,166
Health Care Equipment & Supplies — 3.6%
	Abbott Laboratories	80,600		5,829,798
	Becton Dickinson & Co.	88		19,828
	Danaher Corp.	37,915		3,909,795
	Medtronic PLC	89,026		8,097,805
	STERIS PLC	3,637		388,614
	Zimmer Biomet Holdings, Inc.	6,835		708,926
				18,954,766
Health Care Providers & Services — 6.9%
	Anthem, Inc.	28,740		7,547,986
	Cardinal Health, Inc.	20,569		917,377
	Centene Corp. *	22,232		2,563,350
	Cigna Corp. *	31,781		6,035,848
	CVS Health Corp.	125,918		8,250,147
	DaVita, Inc. *	30,386		1,563,664
	Humana, Inc.	10,720		3,071,066
	Laboratory Corp. of America Holdings *	16,237		2,051,707
	McKesson Corp.	12,123		1,339,228
	Quest Diagnostics, Inc.	19,764		1,645,748
	Universal Health Services, Inc., Class B	10,322		1,203,132
				36,189,253
Hotels, Restaurants & Leisure — 1.4%
	Aramark	8,415		243,783
	Carnival Corp.	27,865		1,373,745
	Hyatt Hotels Corp., Class A	3,874		261,882
	MGM Resorts International	67,948		1,648,418
	Norwegian Cruise Line Holdings Ltd. *	34,226		1,450,840
	Royal Caribbean Cruises Ltd.	26,539		2,595,249
				7,573,917
Household Durables — 1.5%
	DR Horton, Inc.	65,701		2,277,197
	Garmin Ltd.	12,982		822,020
	Lennar Corp., Class A	25,582		1,001,535
	Lennar Corp.,B Shares	573		17,952
	Mohawk Industries, Inc. *	5,383		629,596
	Newell Brands, Inc. @	19,061		354,344
	PulteGroup, Inc.	50,018		1,299,968
	Toll Brothers, Inc.	4,225		139,129
	Whirlpool Corp.	12,182		1,301,890
				7,843,631
Independent Power Producers & Energy Traders — 0.2%
	NRG Energy, Inc.	22,148		877,061
	Vistra Energy Corp. *	4,948		113,260
				990,321
Industrial Conglomerates — 0.4%
	Carlisle Cos., Inc.	6,915		695,096
	General Electric Co.	160,251		1,213,100
				1,908,196
Insurance — 4.8%
	Aflac, Inc.	53,889		2,455,183
	Alleghany Corp.	855		532,939
	Allstate Corp. (The)	19,867		1,641,610
	American Financial Group, Inc.	6,623		599,580
	American International Group, Inc.	41,993		1,654,944
	Arch Capital Group Ltd. *	13,749		367,373
	Assurant, Inc.	4,786		428,060
	Athene Holding Ltd., Class A *	493		19,636

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

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Insurance (Continued)
	Axis Capital Holdings Ltd.	2,004	$	103,487
	Brighthouse Financial, Inc. *	4,222		128,686
	Chubb Ltd.	11,440		1,477,819
	CNA Financial Corp.	7,604		335,717
	Everest Re Group Ltd.	3,455		752,361
	First American Financial Corp.	3,372		150,526
	Hartford Financial Services Group, Inc.	43,394		1,928,863
	Lincoln National Corp.	18,122		929,840
	Loews Corp.	25,413		1,156,800
	MetLife, Inc.	39,945		1,640,142
	Old Republic International Corp.	23,484		483,066
	Principal Financial Group, Inc.	32,419		1,431,947
	Prudential Financial, Inc.	20,566		1,677,157
	Reinsurance Group of America, Inc.	5,167		724,568
	RenaissanceRe Holdings Ltd.	2,534		338,796
	Travelers Companies, Inc. (The)	27,179		3,254,685
	Unum Group	20,621		605,845
	WR Berkley Corp.	6,648		491,354
				25,310,984
Internet & Catalog Retail — 0.3%
	Qurate Retail, Inc. *	71,603		1,397,691
IT Services — 1.1%
	Amdocs Ltd.	11,181		654,983
	DXC Technology Co.	25,865		1,375,242
	Fidelity National Information Services, Inc.	24,496		2,512,065
	Leidos Holdings, Inc.	20,264		1,068,318
	Worldpay, Inc. *	2,677		204,603
				5,815,211
Life Sciences Tools & Services — 1.2%
	Bio-Rad Laboratories, Inc., Class A *	172		39,942
	IQVIA Holdings, Inc. *	12,414		1,442,134
	Thermo Fisher Scientific, Inc.	20,616		4,613,655
				6,095,731
Machinery — 1.7%
	AGCO Corp.	8,713		485,053
	Cummins, Inc.	5,406		722,458
	Dover Corp.	13,676		970,312
	Ingersoll-Rand PLC	16,931		1,544,615
	Oshkosh Corp.	7,274		445,969
	PACCAR, Inc.	13,511		772,019
	Pentair PLC	20,400		770,712
	Snap-On, Inc.	3,803		552,538
	Stanley Black & Decker, Inc.	19,552		2,341,156
	Wabtec Corp. @	4,473		314,228
				8,919,060
Media — 4.3%
	Altice USA, Inc., Class A @	15,295		252,673
	Charter Communications, Inc., Class A *	20,137		5,738,441
	Comcast Corp., Class A	428,572		14,592,877
	Discovery, Inc., Class A *@	13,510		334,237
	Discovery, Inc., Class C *	25,382		585,817
	DISH Network Corp., Class A *	6,484		161,905
	Liberty Broadband Corp., Class C *	1,360		97,961
	Liberty SiriusXM Group, Class A *	4,389		161,515
	Liberty SiriusXM Group, Class C *	8,778		324,610
	News Corp., Class A	8,320		94,432
	News Corp., Class B	1,734		20,028
				22,364,496
Metals & Mining — 1.7%
	Alcoa Corp. *	18,058		479,982
	Freeport-McMoRan, Inc.	116,463		1,200,733
	Newmont Mining Corp.	61,201		2,120,615
	Nucor Corp.	56,664		2,935,762
	Reliance Steel & Aluminum Co.	12,373		880,586
	Royal Gold, Inc.	1,245		106,634
	Steel Dynamics, Inc.	33,820		1,015,953
				8,740,265
Multi-Utilities — 0.0%
	MDU Resources Group, Inc.	5,121		122,085
Multiline Retail — 1.3%
	Dollar Tree, Inc. *	15,698		1,417,843
	Kohl's Corp.	33,121		2,197,247
	Macy's, Inc.	35,738		1,064,278
	Target Corp.	28,533		1,885,746
				6,565,114
Oil, Gas & Consumable Fuels — 13.4%
	Anadarko Petroleum Corp.	20,295		889,733
	Apache Corp.	41,053		1,077,641
	Chevron Corp.	133,248		14,496,050
	Cimarex Energy Co.	2,537		156,406
	Concho Resources, Inc. *	16,586		1,704,875
	ConocoPhillips	97,287		6,065,844
	Devon Energy Corp.	52,433		1,181,840
	Diamondback Energy, Inc. @	8,333		772,469
	Exxon Mobil Corp.	285,714		19,482,838
	Hess Corp.	20,959		848,839
	HollyFrontier Corp.	23,643		1,208,630
	Kinder Morgan, Inc.	132,947		2,044,725
	Marathon Oil Corp.	102,694		1,472,632
	Marathon Petroleum Corp.	86,058		5,078,283
	Murphy Oil Corp.	12,323		288,235
	Noble Energy, Inc.	50,097		939,820
	Occidental Petroleum Corp.	58,030		3,561,881
	PBF Energy, Inc., Class A	1,342		43,843
	Phillips 66	21,239		1,829,740
	Pioneer Natural Resources Co.	6,321		831,338
	Targa Resources Corp.	19,687		709,126
	Valero Energy Corp.	60,582		4,541,832
	Williams Cos., Inc. (The)	22,011		485,343
				69,711,963
Personal Products — 0.0%
	Coty, Inc., Class A @	8,741		57,341
Pharmaceuticals — 4.9%
	Allergan PLC	3,547		474,092
	Jazz Pharmaceuticals PLC *	1,728		214,203
	Mylan NV *	58,437		1,601,174
	Perrigo Co. PLC	10,679		413,811
	Pfizer, Inc.	519,220		22,663,953
				25,367,233
Professional Services — 0.2%
	Manpowergroup, Inc.	8,693		563,307
	Nielsen Holdings PLC	20,895		487,480
				1,050,787
Real Estate Management & Development — 0.2%
	CBRE Group, Inc., Class A *	12,083		483,803
	Jones Lang LaSalle, Inc.	5,491		695,161
				1,178,964
Road & Rail — 1.1%
	AMERCO	845		277,253
	Genesee & Wyoming, Inc., Class A *	1,210		89,564
	Kansas City Southern	14,222		1,357,490

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

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Road & Rail (Continued)
	Norfolk Southern Corp.	27,918	$	4,174,858
				5,899,165
Semiconductors & Semiconductor Equipment — 5.8%
	Analog Devices, Inc.	9,285		796,932
	Broadcom, Inc.	7,660		1,947,785
	Intel Corp.	463,844		21,768,199
	Lam Research Corp.	1,417		192,953
	Marvell Technology Group Ltd.	18,929		306,460
	Micron Technology, Inc. *	110,111		3,493,822
	MKS Instruments, Inc.	124		8,012
	ON Semiconductor Corp. *	20,198		333,469
	Qorvo, Inc. *	9,563		580,761
	QUALCOMM, Inc.	10,524		598,921
	Skyworks Solutions, Inc.	2,920		195,698
				30,223,012
Software — 0.0%
	SS&C Technologies Holdings, Inc.	3,456		155,900
Specialty Retail — 0.4%
	Advance Auto Parts, Inc.	4,932		776,593
	Carmax, Inc. *@	6,257		392,502
	Foot Locker, Inc.	6,612		351,758
	Gap, Inc. (The)	17,531		451,598
				1,972,451
Textiles, Apparel & Luxury Goods — 0.3%
	PVH Corp.	9,516		884,512
	Ralph Lauren Corp.	4,113		425,531
	Tapestry, Inc.	9,322		314,618
				1,624,661
Thrifts & Mortgage Finance — 0.0%
	New York Community Bancorp, Inc. @	8,435		79,373
Wireless Telecommunication Services — 0.3%
	Sprint Corp. *	29,977		174,466
	T-Mobile US, Inc. *	24,396		1,551,830
				1,726,296
	TOTAL COMMON STOCKS
	(Identified Cost $427,523,735)			520,539,095
SHORT-TERM INVESTMENTS — 0.3%
Investment Company — 0.3%
	State Street Institutional U.S. Government Money Market Fund, 2.350%	1,455,025		1,455,025
	TOTAL SHORT-TERM INVESTMENTS
	(Identified Cost $1,455,025)			1,455,025
Total Investments — 100.1%
	(Identified Cost $428,978,760)			521,994,120
	Liabilities, Less Cash and Other Assets — (0.1%)			(280,193	)
Net Assets — 100.0%			$	521,713,927

†	See Note 1
*	Non-income producing security
@	A portion or all of the security were held on loan. As of December 31, 2018, the market value of the securities on loan was $2,647,716.

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

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 98.1%
Australia — 5.4%
	AMP Ltd.	284,873	$	491,593
	Australia & New Zealand Banking Group Ltd.	572,127		9,856,831
	Bank of Queensland Ltd.	81,150		554,433
	Bendigo & Adelaide Bank Ltd.	89,016		676,516
	BlueScope Steel Ltd.	175,538		1,355,096
	Boral Ltd.	193,283		672,526
	Crown Resorts Ltd.	27,067		226,107
	Downer EDI Ltd.	117,865		561,203
	Fortescue Metals Group Ltd.	559,877		1,652,324
	Harvey Norman Holdings Ltd. @	54,282		120,818
	Incitec Pivot Ltd.	342,907		792,207
	National Australia Bank Ltd.	182,564		3,095,136
	Newcrest Mining Ltd.	54,329		834,212
	Oil Search Ltd.	20,049		101,110
	Origin Energy Ltd. *	203,601		927,839
	QBE Insurance Group Ltd.	157,936		1,123,546
	Qube Holdings Ltd.	50,863		90,996
	Santos Ltd.	337,940		1,304,393
	South32 Ltd.	935,716		2,207,889
	Star Entertainment Group Ltd. (The)	202,229		649,526
	Suncorp Group Ltd.	116,752		1,038,619
	TABCORP Holdings Ltd.	208,042		628,632
	Westpac Banking Corp.	95,191		1,678,876
	Whitehaven Coal Ltd.	220,943		672,284
	Woodside Petroleum Ltd.	139,201		3,070,807
				34,383,519
Austria — 0.1%
	Erste Group Bank AG *	4,565		151,942
	Raiffeisen Bank International AG	17,861		454,306
	Voestalpine AG	8,303		248,293
				854,541
Belgium — 1.2%
	Ageas	34,647		1,560,084
	KBC Groep NV	31,034		2,015,382
	Proximus SADP	12,175		329,487
	Solvay SA	20,509		2,051,861
	UCB SA	18,824		1,537,769
				7,494,583
Canada — 8.1%
	Agnico Eagle Mines Ltd.	27,469		1,109,748
	AltaGas Ltd. @	20,555		209,284
	ARC Resources Ltd. @	32,746		194,288
	Bank of Montreal	82,735		5,406,732
	Bank of Nova Scotia (The)	43,321		2,160,418
	Barrick Gold Corp. @	168,511		2,281,639
	Bausch Health Cos, Inc. @*	64,445		1,190,299
	Cameco Corp. ¥	13,948		158,156
	Cameco Corp. @	49,846		565,752
	Canadian Imperial Bank of Commerce	1,497		111,586
	Canadian Natural Resources Ltd.	157,720		3,805,784
	Cenovus Energy, Inc.	104,410		734,002
	Crescent Point Energy Corp. @	83,946		253,517
	Empire Co., Ltd., Class A	25,492		538,335
	Enbridge, Inc.	5,626		174,772
	EnCana Corp. ¥	29,500		170,275
	Encana Corp.	99,224		573,515
	Fairfax Financial Holdings Ltd.	5,694		2,506,578
	First Quantum Minerals Ltd.	97,508		788,521
	Goldcorp, Inc.	118,744		1,163,691
	Great-West Lifeco, Inc.	11,962		246,916
	Husky Energy, Inc. @	93,283		964,125
	Imperial Oil Ltd. @	29,298		741,825
	Industrial Alliance Insurance & Financial         Services, Inc.	31,827		1,015,750
	Kinross Gold Corp. *	345,631		1,113,959
	Linamar Corp.	10,731		356,076
	Lundin Mining Corp.	167,662		692,656
	Magna International, Inc.	57,448		2,611,012
	Manulife Financial Corp.	184,732		2,621,347
	Metro, Inc.	8,248		286,010
	Nutrien Ltd.	25,499		1,198,453
	Seven Generations Energy Ltd., Class A *	32,689		266,741
	Sun Life Financial, Inc.	55,699		1,848,650
	Sun Life Financial, Inc. ¥	18,119		601,091
	Suncor Energy, Inc. ¥	217,673		6,079,601
	Suncor Energy, Inc.	26,634		744,953
	Teck Resources Ltd., Class A	500		10,782
	Teck Resources Ltd., Class B ¥	75,600		1,627,515
	Teck Resources Ltd., Class B	94,542		2,036,435
	TMX Group Ltd.	2,200		113,980
	Tourmaline Oil Corp.	63,000		783,577
	Turquoise Hill Resources Ltd. *	106,042		174,769
	Wheaton Precious Metals Corp.	27,867		544,243
	Whitecap Resources, Inc. @	12,663		40,349
	WSP Global, Inc.	2,603		111,865
				50,929,572
Denmark — 1.5%
	AP Moeller - Maersk A/S, Class A	508		600,261
	AP Moeller - Maersk A/S, Class B	189		237,363
	Carlsberg A/S, Class B	15,445		1,641,557
	Danske Bank A/S	41,578		822,436
	DSV A/S	14,852		978,206
	H Lundbeck A/S	12,173		533,135
	ISS A/S	29,861		834,220
	Jyske Bank A/S	1,891		68,252
	Novozymes A/S, B Shares	6,176		275,700
	Rockwool International A/S, B Shares	1,546		403,315
	Tryg A/S	3,774		94,922
	Vestas Wind Systems A/S	37,580		2,837,891
	William Demant Holding A/S @*	10,115		287,004
				9,614,262
Finland — 1.2%
	Fortum Oyj	60,214		1,317,712
	Nokia Oyj	150,557		867,678
	Nordea Bank Abp	304,997		2,566,490
	Stora Enso Oyj, R Shares	72,414		836,736
	UPM-Kymmene Oyj	89,202		2,263,800
				7,852,416
France — 9.8%
	Amundi SA ±	3,901		206,315
	Arkema SA	6,965		598,192
	AXA SA	161,385		3,486,973
	BNP Paribas SA	87,085		3,938,721
	Bollore SA	146,617		587,952
	Bouygues SA	55,128		1,979,525
	Carrefour SA	138,427		2,364,766
	Casino Guichard Perrachon SA @	3,929		163,590
	Cie de Saint-Gobain	80,685		2,696,153
	Cie Generale des Etablissements Michelin	33,408		3,318,634
	CNP Assurances	35,633		756,107
	Credit Agricole SA	58,593		633,063
	Electricite de France SA	99,129		1,567,363
	Engie SA	113,758		1,632,486

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

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
France (Continued)
	Natixis SA	153,867	$	726,151
	Orange SA	348,263		5,648,159
	Peugeot SA	170,171		3,635,278
	Renault SA	45,157		2,822,342
	Sanofi	26,272		2,277,452
	SCOR SE	16,613		749,953
	Societe Generale SA	72,978		2,326,156
	Total SA	373,311		19,752,154
				61,867,485
Germany — 6.7%
	Allianz SE	4,681		939,320
	BASF SE	3,336		230,862
	Bayer AG	46,853		3,250,970
	Bayerische Motoren Werke AG	67,669		5,481,494
	Commerzbank AG *	165,793		1,098,523
	Continental AG	1,444		199,776
	Daimler AG	181,311		9,537,206
	Deutsche Bank AG	46,122		368,166
	Deutsche Bank AG	177,432		1,446,071
	Deutsche Lufthansa AG	82,096		1,853,011
	Deutsche Telekom AG	239,461		4,066,050
	Evonik Industries AG	9,583		239,358
	Fraport AG Frankfurt Airport Services        Worldwide	2,810		201,093
	Hapag-Lloyd AG ±	3,538		90,802
	HeidelbergCement AG	42,255		2,584,321
	Innogy SE *	18,633		792,466
	METRO AG	22,425		344,164
	Muenchener Rueckversicherungs AG	10,622		2,319,023
	RWE AG	148,476		3,226,256
	Talanx AG *	13,218		451,307
	Telefonica Deutschland Holding AG	207,880		814,094
	Uniper SE	55,055		1,425,591
	Volkswagen AG	6,709		1,069,239
	Wacker Chemie AG	1,082		98,060
				42,127,223
Hong Kong — 3.3%
	Bank of East Asia Ltd. (The)	6,600		20,987
	Cathay Pacific Airways Ltd.	231,000		328,630
	CK Asset Holdings Ltd.	140,000		1,024,456
	CK Hutchison Holdings Ltd.	414,624		3,981,831
	Guoco Group Ltd.	5,000		63,055
	Hang Lung Group Ltd.	195,000		496,558
	Hang Lung Properties Ltd.	283,000		539,220
	Henderson Land Development Co., Ltd.	121,531		605,288
	Hongkong Land Holdings Ltd.	110,600		696,780
	Hopewell Holdings Ltd.	63,500		278,961
	Kerry Properties Ltd.	162,000		553,413
	Melco International Development Ltd.	132,000		269,040
	MTR Corp. Ltd.	160,539		844,672
	New World Development Co., Ltd.	1,189,436		1,573,662
	NWS Holdings Ltd.	222,715		456,778
	Shangri-La Asia Ltd.	175,143		259,455
	Sino Land Co., Ltd.	499,249		855,619
	SJM Holdings Ltd.	433,000		403,665
	Sun Hung Kai Properties Ltd.	198,677		2,831,537
	Swire Pacific Ltd., Series A	132,000		1,394,087
	Swire Pacific Ltd., Series B	210,000		350,246
	Tsim Sha Tsui Properties	60,907		189,787
	WH Group Ltd. ±	585,000		450,489
	Wharf Holdings Ltd. (The)	270,000		703,403
	Wheelock & Co., Ltd.	231,000		1,320,126
	Yue Yuen Industrial Holdings Ltd.	173,000		553,432
				21,045,177
Ireland — 0.8%
	AIB Group PLC	39,585		166,904
	Bank of Ireland Group PLC	120,260		669,649
	CRH PLC, ADR	38,201		1,006,596
	Linde PLC *	17,959		2,850,877
	Paddy Power Betfair PLC	5,659		464,564
				5,158,590
Israel — 0.4%
	Bank Hapoalim B.M.	138,244		874,377
	Bank Leumi Le-Israel	194,010		1,172,610
	First International Bank Of Israel Ltd.	7,679		161,417
	Israel Discount Bank Ltd., Series A	35,180		108,763
	Mizrahi Tefahot Bank Ltd.	4,155		70,161
				2,387,328
Italy — 1.4%
	Assicurazioni Generali SpA	69,167		1,157,022
	Eni SpA	21,143		333,039
	Intesa Sanpaolo SpA	1,205,544		2,679,352
	Mediobanca SpA	39,856		336,825
	Telecom Italia SpA *	4,307,903		2,385,462
	UniCredit SpA	168,706		1,912,459
				8,804,159
Japan — 23.0%
	AGC, Inc. @	48,500		1,517,768
	Aisin Seiki Co., Ltd.	22,500		784,180
	Alfresa Holdings Corp.	5,800		148,327
	Amada Holdings Co., Ltd.	37,100		334,426
	Aoyama Trading Co., Ltd.	4,500		108,184
	Bank of Kyoto Ltd. (The)	8,000		331,737
	Brother Industries Ltd.	4,000		59,523
	Canon Marketing Japan, Inc.	12,000		214,589
	Chiba Bank Ltd. (The)	79,000		442,553
	Chugoku Bank Ltd. (The)	19,700		166,616
	Citizen Watch Co., Ltd.	64,400		318,460
	Coca-Cola West Co., Ltd.	33,475		1,003,288
	Concordia Financial Group Ltd.	156,300		601,785
	Credit Saison Co., Ltd.	15,100		177,858
	Dai Nippon Printing Co., Ltd.	30,000		628,712
	Dai-ichi Life Holdings, Inc. (The)	99,400		1,558,042
	Daicel Corp.	52,000		536,581
	Daido Steel Co., Ltd.	6,200		244,651
	Daio Paper Corp. @	4,900		56,643
	Daiwa Securities Group, Inc.	239,000		1,213,698
	Denka Co., Ltd.	16,200		459,669
	Denso Corp.	28,800		1,285,693
	DIC Corp.	16,000		491,948
	Dowa Holdings Co., Ltd.	9,600		289,038
	Ebara Corp.	16,800		378,749
	FUJIFILM Holdings Corp.	30,900		1,203,805
	Fukuoka Financial Group, Inc.	18,000		367,374
	Fukuyama Transporting Co., Ltd.	1,300		50,171
	Furukawa Electric Co., Ltd.	14,000		352,794
	Fuyo General Lease Co., Ltd.	800		40,874
	Glory Ltd.	11,200		252,806
	Gunma Bank Ltd. (The)	47,000		196,825

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

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Japan (Continued)
	H2O Retailing Corp.	14,000	$	199,516
	Hachijuni Bank Ltd. (The)	48,000		197,509
	Hankyu Hanshin Holdings, Inc.	48,700		1,621,778
	Heiwa Corp.	8,700		177,167
	Hiroshima Bank Ltd. (The)	24,000		127,658
	Hitachi Capital Corp.	9,900		209,011
	Hitachi Chemical Co., Ltd.	21,300		322,595
	Hitachi Ltd.	137,100		3,671,886
	Hitachi Metals Ltd.	47,400		497,331
	Hitachi Transport System Ltd.	7,700		219,187
	Hokuhoku Financial Group, Inc.	15,000		169,563
	Honda Motor Co., Ltd.	271,700		7,175,180
	House Foods Group, Inc.	700		24,109
	Ibiden Co., Ltd.	32,600		460,424
	Idemitsu Kosan Co., Ltd.	32,600		1,073,728
	Iida Group Holdings Co., Ltd.	36,900		639,997
	Isetan Mitsukoshi Holdings Ltd.	26,300		291,542
	ITOCHU Corp.	40,900		696,686
	Itoham Yonekyu Holdings, Inc.	22,300		134,893
	Iyo Bank Ltd. (The)	29,500		156,106
	J. Front Retailing Co., Ltd.	51,400		590,885
	Japan Post Holdings Co., Ltd.	71,600		826,367
	JFE Holdings, Inc.	97,300		1,559,747
	JSR Corp.	33,300		502,819
	JTEKT Corp.	49,700		555,925
	JX Holdings, Inc.	478,800		2,519,264
	K's Holdings Corp.	15,600		153,716
	Kajima Corp.	54,000		728,178
	Kamigumi Co., Ltd.	15,700		323,153
	Kandenko Co., Ltd.	16,400		159,653
	Kaneka Corp.	16,000		575,156
	Kawasaki Heavy Industries Ltd.	32,800		703,851
	Kawasaki Kisen Kaisha Ltd. @*	5,800		71,703
	Kobe Steel Ltd.	68,700		478,872
	Kokuyo Co., Ltd.	7,600		111,291
	Konica Minolta, Inc.	142,000		1,286,492
	Kuraray Co., Ltd.	76,400		1,080,425
	Kurita Water Industries Ltd.	3,100		75,347
	Kyushu Financial Group, Inc.	44,870		170,302
	LIXIL Group Corp.	65,800		817,660
	Maeda Corp.	18,300		171,471
	Maeda Road Construction Co., Ltd.	6,400		133,249
	Marubeni Corp.	203,100		1,431,271
	Mazda Motor Corp.	153,300		1,587,478
	Mebuki Financial Group, Inc.	83,070		221,308
	Medipal Holdings Corp.	25,300		543,602
	Mitsubishi Chemical Holdings Corp.	185,800		1,411,405
	Mitsubishi Corp.	136,600		3,763,806
	Mitsubishi Gas Chemical Co., Inc.	38,100		575,298
	Mitsubishi Heavy Industries Ltd.	54,600		1,970,691
	Mitsubishi Logistics Corp.	2,500		56,955
	Mitsubishi Materials Corp.	35,500		937,663
	Mitsubishi Tanabe Pharma Corp.	16,600		239,447
	Mitsubishi UFJ Financial Group, Inc.	300,400		1,474,250
	Mitsubishi UFJ Financial Group, Inc., ADR	730,318		3,556,649
	Mitsubishi UFJ Lease & Finance Co., Ltd.	110,200		530,866
	Mitsui Chemicals, Inc.	47,200		1,069,703
	Mitsui Fudosan Co., Ltd.	42,900		956,986
	Mitsui OSK Lines Ltd.	24,600		538,437
	Mizuho Financial Group, Inc.	1,731,200		2,689,871
	MS&AD Insurance Group Holdings, Inc.	41,128		1,175,247
	Nagase & Co., Ltd.	8,100		111,961
	NEC Corp.	73,400		2,186,497
	NGK Insulators Ltd.	4,000		54,414
	NH Foods Ltd.	21,733		819,907
	NHK Spring Co., Ltd.	42,200		371,543
	Nikon Corp.	10,000		149,172
	Nippo Corp. @	11,000		212,062
	Nippon Electric Glass Co., Ltd. @	14,700		361,180
	Nippon Express Co., Ltd.	21,600		1,206,076
	Nippon Kayaku Co., Ltd.	11,700		149,553
	Nippon Paper Industries Co., Ltd.	16,500		295,812
	Nippon Shokubai Co., Ltd.	4,600		294,202
	Nippon Steel Sumitomo Metal Corp.	124,127		2,143,245
	Nippon Yusen KK	50,100		772,949
	Nipro Corp.	14,600		179,162
	Nishi-Nippon Financial Holdings, Inc.	9,400		82,161
	Nissan Motor Co., Ltd.	426,800		3,427,873
	Nisshinbo Holdings, Inc.	26,400		200,159
	NOK Corp.	19,900		278,878
	Nomura Holdings, Inc.	429,500		1,648,954
	Nomura Real Estate Holdings, Inc.	23,700		435,706
	NSK Ltd.	84,600		732,498
	NTN Corp.	95,000		275,626
	Obayashi Corp.	113,200		1,026,603
	Oji Holdings Corp.	226,000		1,165,002
	Rengo Co., Ltd.	35,400		280,345
	Resona Holdings, Inc.	246,400		1,188,556
	Ricoh Co., Ltd.	135,700		1,333,415
	Rohm Co., Ltd.	6,100		391,807
	Sankyo Co., Ltd.	3,300		125,852
	Sawai Pharmaceutical Co., Ltd.	3,200		152,694
	Seino Holdings Co., Ltd.	20,400		268,389
	Sekisui House Ltd.	145,600		2,150,690
	Shimamura Co., Ltd.	2,600		199,261
	Shimizu Corp.	68,400		558,533
	Shinsei Bank Ltd.	18,500		220,943
	Shizuoka Bank Ltd. (The)	58,000		455,618
	Sojitz Corp.	179,100		624,207
	Sompo Holdings, Inc.	19,343		658,620
	Sumitomo Chemical Co., Ltd.	471,000		2,290,434
	Sumitomo Corp.	74,200		1,057,099
	Sumitomo Dainippon Pharma Co., Ltd.	30,100		959,806
	Sumitomo Electric Industries Ltd.	181,800		2,424,995
	Sumitomo Forestry Co., Ltd.	33,800		444,067
	Sumitomo Heavy Industries Ltd.	26,000		776,881
	Sumitomo Metal Mining Co., Ltd.	54,700		1,470,994
	Sumitomo Mitsui Financial Group, Inc.	187,900		6,248,762
	Sumitomo Mitsui Trust Holdings, Inc.	27,100		994,446
	Sumitomo Osaka Cement Co., Ltd.	1,900		78,181
	Sumitomo Rubber Industries Ltd. @	42,800		507,641
	Suzuken Co., Ltd.	3,040		155,044
	T&D Holdings, Inc.	60,800		709,486
	Taiheiyo Cement Corp.	25,000		774,372
	Takashimaya Co., Ltd.	23,500		301,026
	TDK Corp.	5,000		352,174
	Teijin Ltd.	53,199		852,795
	Toda Corp.	28,000		175,248
	Toho Holdings Co., Ltd. @	8,800		215,815
	TOKAI RIKA Co., Ltd.	11,500		191,378
	Tokio Marine Holdings, Inc.	20,400		974,540
	Tokyo Tatemono Co., Ltd.	37,600		391,077
	Tokyu Fudosan Holdings Corp.	132,300		654,227
	Tosoh Corp.	58,300		761,695
	Toyo Seikan Group Holdings Ltd.	35,200		809,948
	Toyoda Gosei Co., Ltd.	15,300		303,613
	Toyota Motor Corp.	216,490		12,653,026
	Toyota Motor Corp., ADR	38,241		4,439,015

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

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Japan (Continued)
	Toyota Tsusho Corp.	47,800	$	1,415,182
	TS Tech Co., Ltd.	7,000		192,874
	Ube Industries Ltd.	24,700		503,442
	Yamada Denki Co., Ltd.	133,100		639,968
	Yamaguchi Financial Group, Inc.	23,000		221,386
	Yokohama Rubber Co., Ltd. (The) @	27,600		519,995
	Zeon Corp.	28,500		261,585
				145,122,034
Luxembourg — 0.2%
	SES SA	60,528		1,158,837
Netherlands — 3.6%
	ABN AMRO Group NV ±	53,462		1,258,159
	Aegon NV	243,479		1,137,902
	Akzo Nobel NV	2,525		203,668
	ArcelorMittal @	89,636		1,852,776
	ArcelorMittal =	28,247		587,083
	ASR Nederland NV	2,603		103,131
	Fiat Chrysler Automobiles NV *	16,458		237,983
	ING Groep NV	386,479		4,166,825
	Koninklijke Ahold Delhaize NV	285,058		7,209,808
	Koninklijke DSM NV	37,473		3,067,253
	Koninklijke Philips NV	17,973		631,032
	Koninklijke Vopak NV	7,411		336,929
	NN Group NV	43,420		1,731,246
	Randstad Holding NV	2,608		119,793
				22,643,588
New Zealand — 0.2%
	Air New Zealand Ltd.	126,439		263,084
	Auckland International Airport Ltd.	102,317		493,088
	EBOS Group Ltd.	13,150		177,232
	Fletcher Building Ltd. *	104,034		340,759
	Fonterra Co-operative Group, Ltd. @	6,088		18,960
	SKYCITY Entertainment Group, Ltd.	9,800		23,351
				1,316,474
Norway — 0.9%
	Aker ASA, A Shares	1,286		68,714
	Austevoll Seafood ASA	10,438		128,928
	DNB ASA	121,828		1,946,515
	Norsk Hydro ASA	380,361		1,724,855
	SpareBank 1 SR-Bank ASA	25,719		265,325
	Statoil ASA	2		42
	Storebrand ASA	56,200		400,644
	Subsea 7 SA	44,617		434,895
	Yara International ASA	20,099		775,229
				5,745,147
Portugal — 0.1%
	Banco Espirito Santo SA §*	414,564		—
	EDP Renovaveis SA	32,371		288,367
				288,367
Singapore — 1.0%
	BOC Aviation Ltd. ±	47,800		353,746
	CapitaLand Ltd.	430,800		983,006
	City Developments Ltd.	103,600		617,214
	Frasers Centrepoint Ltd. @	23,300		28,207
	Golden Agri-Resources Ltd.	938,200		168,648
	Keppel Corp. Ltd.	379,500		1,645,582
	Olam International Ltd.	82,000		99,270
	Sembcorp Industries Ltd.	293,200		546,409
	Singapore Airlines Ltd.	158,940		1,098,511
	United Industrial Corp. Ltd.	63,243		126,676
	UOL Group Ltd.	47,218		214,446
	Wilmar International Ltd.	292,500		669,577
				6,551,292
South Africa — 0.0%
	Old Mutual Ltd.	116,789		174,344
Spain — 2.6%
	Banco Bilbao Vizcaya Argentaria SA	215,590		1,145,025
	Banco de Sabadell SA	1,148,372		1,316,405
	Banco Santander SA	2,235,943		10,178,154
	Bankia SA @	44,244		129,773
	Mapfre SA	21,274		56,549
	Repsol SA	221,785		3,577,870
				16,403,776
Sweden — 2.4%
	BillerudKorsnas AB @	25,275		300,861
	Boliden AB	68,429		1,482,238
	Dometic Group AB ±	42,022		260,772
	Getinge AB, B Shares	47,843		431,307
	Holmen AB	23,456		462,983
	Husqvarna AB, Class B	9,183		68,073
	ICA Gruppen AB @	18,530		662,342
	Intrum AB @	8,767		203,473
	Millicom International Cellular SA	12,736		806,872
	Peab AB	3,201		26,149
	SKF AB	46,187		700,652
	SSAB AB, A Shares	32,802		112,844
	SSAB AB, B Shares	227,651		2,211,538
	SSAB AB, Series B	71,560		201,206
	Svenska Cellulosa AB, Series A	244		1,968
	Svenska Cellulosa AB, Series B	96,232		746,147
	Svenska Handelsbanken AB, A Shares	119,771		1,328,394
	Svenska Handelsbanken AB, B Shares	1,918		21,900
	Swedbank AB, A Shares	58,033		1,294,831
	Tele2 AB, B Shares	8,541		108,847
	Telefonaktiebolaget LM Ericsson, B Shares	150,346		1,321,790
	Telia Co. AB	390,069		1,847,590
	Trelleborg AB	39,848		626,520
				15,229,297
Switzerland — 8.4%
	Adecco Group SA	36,654		1,712,807
	Baloise Holding AG	10,839		1,493,133
	Banque Cantonale Vaudoise	173		130,423
	Cie Financiere Richemont SA	65,945		4,226,814
	Clariant AG *	70,701		1,301,232
	Credit Suisse Group AG *	139,027		1,527,614
	Dufry AG @*	8,794		833,144
	Flughafen Zuerich AG	4,261		704,459
	Helvetia Holding AG	352		205,742
	Julius Baer Group Ltd. *	38,000		1,353,525
	LafargeHolcim Ltd. *	56,614		2,332,757
	Lonza Group AG *	2,027		525,259
	Novartis AG	155,578		13,302,243
	Novartis AG, ADR	19,570		1,679,302
	Swatch Group AG (The) µ	12,219		706,114
	Swatch Group AG (The) µ	6,868		2,003,312
	Swiss Life Holding AG *	5,678		2,187,090
	Swiss Re AG	27,273		2,500,603

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

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

			SHARES	VALUE†
COMMON STOCKS (Continued)
Switzerland (Continued)
	Swisscom AG		2,134	$	1,019,778
	UBS Group AG *		385,713		4,801,301
	Vifor Pharma AG		3,119		339,222
	Zurich Insurance Group AG		26,257		7,829,817
					52,715,691
United Kingdom — 15.5%
	Anglo American PLC		234,151		5,216,288
	Antofagasta PLC		11,948		119,273
	Aviva PLC		863,288		4,131,802
	Barclays PLC, ADR		354,608		2,673,744
	Barratt Developments PLC		206,660		1,219,056
	BP PLC, ADR		437,135		16,576,159
	British American Tobacco PLC		98,463		3,137,523
	Coca-Cola European Partners PLC *		3,617		166,762
	Glencore PLC *		1,525,021		5,663,236
	GVC Holdings PLC		14,764		126,835
	HSBC Holdings PLC		142,436		1,174,440
	HSBC Holdings PLC, ADR @		271,854		11,175,918
	Investec PLC		83,489		469,397
	J Sainsbury PLC		422,622		1,427,486
	John Wood Group PLC		55,323		356,945
	Kingfisher PLC		420,977		1,113,398
	Lloyds Banking Group PLC		9,063,876		5,990,134
	Lloyds Banking Group PLC, ADR		376,801		964,611
	Mediclinic International PLC		18,648		76,654
	Melrose Industries PLC		74,542		155,676
	Micro Focus International PLC, ADR		23,644		406,913
	Pearson PLC		48,365		578,486
	Pearson PLC, ADR @		32,293		385,578
	Phoenix Group Holdings PLC		11,959		85,879
	Royal Bank of Scotland Group PLC		83,038		229,356
	Royal Bank of Scotland Group PLC, ADR@		81,693		456,664
	Royal Dutch Shell PLC, ADR, Class A		155,739		9,074,912
	Royal Dutch Shell PLC, ADR, Class B		179,658		10,768,700
	Royal Mail PLC		76,074		263,839
	Standard Chartered PLC		286,653		2,226,186
	Standard Life Aberdeen PLC		45,696		149,542
	Tesco PLC		28,781		69,737
	Vodafone Group PLC		4,677,355		9,115,524
	WM Morrison Supermarkets PLC		548,065		1,489,687
	WPP PLC @		5,500		301,400
	WPP PLC		57,115		616,314
					98,154,054
United States — 0.3%
	Shire PLC		27,024		1,574,127
	TOTAL COMMON STOCKS        (Identified Cost $650,359,928)				619,595,883
PREFERRED STOCKS — 1.3%
Germany — 1.3%
	Bayerische Motoren Werke AG, 6.330%		11,127		791,698
	Porsche Automobil Holding SE, 3.200%		17,284		1,022,634
	Volkswagen AG, 2.680%		37,559		5,978,174
					7,792,506
	TOTAL PREFERRED STOCKS        (Identified Cost $10,884,972)				7,792,506
RIGHTS AND WARRANTS — 0.0%
Spain — 0.0%
	Repsol SA Right *		225,702		103,439
	TOTAL RIGHTS AND WARRANTS        (Identified Cost $105,922)				103,439
SHORT-TERM INVESTMENTS — 1.7%
Collateral For Securities On Loan — 1.7%
	State Street Navigator Securities Lending Government Money Market Portfolio, 2.350%	$	10,961,837	$	10,961,837
	TOTAL SHORT-TERM INVESTMENTS        (Identified Cost $10,961,837)				10,961,837
Total Investments — 101.1%
	(Identified Cost $672,312,659)				638,453,665
	Liabilities, Less Cash and Other Assets — (1.1%)				(6,823,413	)
Net Assets — 100.0%				$	631,630,252

†	See Note 1
@	A portion or all of the security were held on loan. As of December 31, 2018, the market value of the securities on loan was $19,723,561.
*	Non-income producing security
¥	Traded on the Canada, Toronto Stock 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, 2018 amounted to $2,620,283 or 0.41% of the net assets of the Fund.
=	Traded on the France, Euronext Paris Exchange.
§	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.

Key to abbreviations:
ADR — American Depository Receipt
CAD — Canadian Dollar
EUR — Euro Currency
GBP — British Pound
HKD — Hong Kong Dollar
SEK — Swedish Krona

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited)

		SHARES	VALUE†
COMMON STOCKS — 98.0%
Brazil — 7.4%
	Aliansce Shopping Centers SA	9,447	$	46,604
	Alliar Medicos A Frente SA *	3,500		12,020
	Banco Bradesco SA	33,012		288,320
	Banco Bradesco SA, ADR	100,458		993,530
	Banco do Brasil SA	74,244		890,564
	Banco Santander Brasil SA	26,920		296,584
	Cia Siderurgica Nacional SA *	104,700		238,805
	Construtora Tenda SA	10,255		84,908
	Cosan SA Industria e Comercio	14,100		121,728
	Direcional Engenharia SA	12,000		23,221
	Duratex SA	42,639		130,147
	Embraer SA, ADR	18,374		406,617
	Ez Tec Empreendimentos e Participacoes SA	8,658		55,892
	Gerdau SA	9,327		29,456
	Gerdau SA, ADR @	102,151		384,088
	International Meal Co., Alimentacao SA	24,900		45,550
	Iochpe Maxion SA	12,897		79,230
	JBS SA	129,293		386,636
	Kroton Educacional SA	115,663		264,705
	LOG Commercial Properties e Participacoes SA *	3,194		14,849
	Magnesita Refratarios SA *	6,000		85,454
	MRV Engenharia e Participacoes SA	44,264		141,160
	Petroleo Brasileiro SA	386,643		2,533,892
	Restoque Comercio e Confeccoes de Roupas SA	1,216		8,408
	Santos Brasil Participacoes SA	32,700		35,689
	Sao Martinho SA	24,581		115,366
	SLC Agricola SA	7,679		82,937
	Sul America SA	32,934		243,027
	Tupy SA	9,747		50,675
	Usinas Siderurgicas de Minas Gerais SA	9,100		26,860
	Vale SA	516,592		6,797,702
	Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA	7,543		35,032
				14,949,656
Cayman Islands — 0.0%
	Tongda Group Holdings Ltd.	80,000		7,969
Chile — 1.2%
	Besalco SA	22,668		19,928
	CAP SA	12,556		110,001
	Cencosud SA	156,242		281,416
	Cia Sud Americana de Vapores SA *	231,075		6,643
	Empresas CMPC SA	98,730		313,347
	Empresas COPEC SA	13,008		156,058
	Empresas Hites SA	11,264		7,481
	Empresas La Polar SA *	307,156		14,163
	Enel Americas SA	2,256,965		396,757
	Enel Chile SA, ADR	32,412		160,439
	Enersis Americas SA, ADR	10,932		97,513
	ENTEL Chile SA	11,652		90,664
	Grupo Security SA	151,161		63,383
	Inversiones Aguas Metropolitanas SA	40,036		58,266
	Itau CorpBanca	12,354,030		115,672
	Latam Airlines Group SA, ADR @	17,808		183,422
	Masisa SA	174,355		9,321
	PAZ Corp. SA	9,073		13,335
	Ripley Corp. SA	107,262		88,870
	Salfacorp SA	43,600		61,882
	Sigdo Koppers SA	27,803		41,821
	SMU SA *	12,651		3,463
	Sociedad Matriz SAAM SA	550,961		47,316
	Socovesa SA	38,881		21,962
	Vina Concha y Toro SA	22,108		42,789
				2,405,912
China — 17.3%
	361 Degrees International Ltd.	71,000		14,779
	Agile Group Holdings Ltd.	167,091		196,527
	Agricultural Bank of China Ltd., H Shares	1,814,000		794,588
	Air China Ltd., Class H	92,000		80,128
	Ajisen China Holdings Ltd.	37,000		10,348
	Aluminum Corp. of China Ltd., H Shares *	194,000		62,433
	Angang Steel Co., Ltd., H Shares	70,000		48,273
	Anton Oilfield Services Group *	94,000		9,363
	Asia Cement China Holdings Corp.	25,500		17,878
	BAIC Motor Corp., Ltd., H Shares ±	123,500		65,137
	Bank of China Ltd., H Shares	4,025,902		1,737,762
	Bank of Chongqing Co., Ltd., H Shares @	46,500		26,544
	Bank of Communications Co., Ltd., H Shares	384,400		299,941
	Baoye Group Co., Ltd. Class H *	22,000		12,221
	BBMG Corp., H Shares	143,000		45,107
	Beijing Capital International Airport Co., Ltd., H Shares	42,000		44,572
	Beijing Capital Land Ltd., H Shares	100,000		35,885
	Beijing Enterprises Clean Energy Group Ltd. *	260,000		3,686
	Beijing Enterprises Holdings Ltd.	33,500		177,543
	Beijing North Star Co., Ltd., Class H	26,000		7,404
	Bosideng International Holdings Ltd. @	64,000		12,096
	Brilliance China Automotive Holdings Ltd.	52,000		38,715
	BYD Electronic International Co., Ltd.	34,500		43,354
	C C Land Holdings Ltd.	172,500		41,635
	CAR, Inc. *	14,000		10,423
	Central China Real Estate Ltd.	56,000		20,596
	CGN Meiya Power Holdings Co., Ltd. *±	152,000		20,964
	Chaowei Power Holdings Ltd.	37,000		14,317
	China Aerospace International Holdings Ltd.	318,000		19,899
	China Agri-Industries Holdings Ltd.	203,700		72,578
	China Aoyuan Property Group Ltd.	113,000		71,721
	China BlueChemical Ltd., H Shares	192,000		60,318
	China Cinda Asset Management Co., Ltd., Class H	505,000		122,534
	China Citic Bank Corp., Ltd., H Shares	417,000		253,486
	China Coal Energy Co., Ltd., H Shares	120,000		47,200
	China Communication Services Corp., Ltd., H Shares	153,600		127,109
	China Communications Construction Co., Ltd., H Shares	274,000		258,936
	China Construction Bank Corp., H Shares	5,913,810		4,878,771
	China Development Bank Financial Leasing Co., Ltd., H Shares ±	68,000		17,889
	China Eastern Airlines Corp., Ltd., H Shares	50,000		27,840
	China Electronics Optics Valley Union Holding Co., Ltd.	140,000		7,688
	China Energy Engineering Corp., Ltd., H Shares	122,000		15,269
	China Everbright Bank Co., Ltd., H Shares	160,000		69,268
	China Everbright Ltd.	26,000		46,086
	China Galaxy Securities Co., Ltd., H Shares	133,500		60,352
	China Harmony New Energy Auto Holding Ltd. @	41,000		15,394

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
China (Continued)
	China High Speed Transmission Equipment
	Group Co., Ltd. @	23,000	$	22,029
	China Hongqiao Group Ltd. @	162,500		92,347
	China Huiyuan Juice Group Ltd. *@	84,500		8,174
	China International Capital Corp., Ltd., H Shares @±	22,400		42,051
	China International Marine Containers Group Co., Ltd., Class H	12,200		11,716
	China Jinmao Holdings Group Ltd.	360,000		161,829
	China Lesso Group Holdings Ltd.	73,000		36,544
	China Lumena New Materials Corp. *@	224,000		—
	China Merchants Bank Co., Ltd., H Shares	8,500		31,154
	China Merchants Land Ltd.	118,000		16,576
	China Merchants Port Holdings Co., Ltd.	18,421		33,170
	China Minsheng Banking Corp., Ltd., H Shares	389,880		268,866
	China Mobile Ltd.	385,000		3,704,712
	China National Building Material Co., Ltd., H Shares	422,850		289,442
	China Oil & Gas Group Ltd. *	200,000		13,026
	China Oilfield Services Ltd., H Shares	124,000		106,573
	China Oriental Group Co., Ltd.	38,000		22,614
	China Overseas Grand Oceans Group Ltd.	115,500		37,908
	China Overseas Land & Investment Ltd.	338,000		1,161,126
	China Petroleum & Chemical Corp., ADR	4,361		307,887
	China Petroleum & Chemical Corp., H Shares	2,062,400		1,472,296
	China Railway Construction Corp., Ltd., H Shares	159,500		221,208
	China Railway Group Ltd., H Shares	254,000		231,278
	China Reinsurance Group Corp., H Shares	196,000		40,049
	China Resources Cement Holdings Ltd.	150,000		135,049
	China Resources Land Ltd.	246,000		945,610
	China Sanjiang Fine Chemicals Co., Ltd.	44,000		10,564
	China SCE Property Holdings Ltd.	151,000		54,958
	China Shanshui Cement Group Ltd. *@	112,501		30,314
	China Shengmu Organic Milk Ltd. *±	123,000		5,576
	China Shenhua Energy Co., Ltd.	295,500		647,568
	China Shineway Pharmaceutical Group Ltd.	19,000		18,465
	China Silver Group Ltd. *	116,000		10,962
	China Singyes Solar Technologies Holdings Ltd.	36,000		11,494
	China South City Holdings Ltd.	308,000		43,660
	China Southern Airlines Co., Ltd., H Shares	84,000		52,027
	China State Construction International Holdings Ltd.	58,000		46,071
	China Taiping Insurance Holdings Co., Ltd.	9,600		26,358
	China Traditional Chinese Medicine Holdings Co., Ltd.	30,000		17,470
	China Travel International Investment Hong Kong Ltd.	180,000		48,043
	China Unicom Hong Kong Ltd.	132,000		140,926
	China Unicom Hong Kong Ltd., ADR @	55,304		589,541
	China Yurun Food Group Ltd. *@	23,000		1,880
	China ZhengTong Auto Services Holdings Ltd.	74,500		44,431
	China Zhongwang Holdings Ltd. @	154,000		68,243
	Chongqing Rural Commercial Bank Co., Ltd., H Shares	226,000		121,218
	CIFI Holdings Group Co., Ltd.	162,000		86,064
	CITIC Ltd.	274,000		429,694
	Citic Resources Holdings Ltd. @	150,000		11,877
	CITIC Securities Co., Ltd., Class H	43,000		74,133
	Citychamp Watch & Jewellery Group Ltd.	60,000		12,490
	CNOOC Ltd.	1,424,000		2,200,421
	Cogobuy Group *±	40,000		13,537
	Comba Telecom Systems Holdings Ltd. *@	193,600		31,894
	Concord New Energy Group Ltd.	420,000		16,895
	Coolpad Group Ltd. *	240,200		19,672
	COSCO SHIPPING Development Co., Ltd., H Shares *	132,200		13,506
	COSCO SHIPPING Energy Transportation Co., Ltd., H Shares	92,000		45,938
	COSCO SHIPPING Ports Ltd.	104,175		102,439
	CPMC Holdings Ltd.	25,000		12,004
	CT Environmental Group Ltd. @	98,000		3,942
	Dah Chong Hong Holdings Ltd.	81,000		28,033
	Dongfeng Motor Group Co., Ltd., H Shares	168,000		152,327
	Dongyue Group Ltd.	39,000		20,121
	Everbright Securities Co., Ltd., Class H ±	16,000		14,303
	Fantasia Holdings Group Co., Ltd.	142,500		16,378
	Far East Horizon Ltd.	79,000		79,701
	Fosun International Ltd.	128,000		186,348
	Fufeng Group Ltd. *	123,000		51,993
	GCL New Energy Holdings Ltd. *@	392,000		14,768
	GCL-Poly Energy Holdings Ltd. *	899,000		54,534
	Gemdale Properties & Investment Corp., Ltd.	226,000		21,358
	GF Securities Co., Ltd., Class H	38,600		52,351
	Glorious Property Holdings Ltd. *	228,000		11,647
	GOME Retail Holdings Ltd. *@	570,000		47,315
	Grand Baoxin Auto Group Ltd.	23,000		6,491
	Great Wall Motor Co., Ltd., H Shares @	230,500		132,168
	Greenland Hong Kong Holdings Ltd.	112,000		27,319
	Greentown China Holdings Ltd.	48,000		36,044
	Guangshen Railway Co., Ltd., ADR	2,674		49,870
	Guangzhou Automobile Group Co., Ltd., H Shares	104,000		103,728
	Guangzhou R&F Properties Co., Ltd., H Shares	109,600		165,719
	Guotai Junan Securities Co., Ltd. ±	8,200		16,587
	Haitong Securities Co., Ltd., Class H	155,200		148,650
	Harbin Bank Co., Ltd., H Shares ±	57,000		13,248
	Harbin Electric Co., Ltd., H Shares	54,000		27,516
	HC Group, Inc. *@	9,500		5,496
	Hengdeli Holdings Ltd. *	184,000		8,224
	Hi Sun Technology China Ltd. *	72,000		9,287
	Hilong Holding Ltd.	109,000		10,022
	Hopson Development Holdings Ltd.	58,000		47,997
	Hua Han Health Industry Holdings Ltd. *@	640,000		—
	Hua Hong Semiconductor Ltd. ±	6,000		11,110
	Huaneng Renewables Corp., Ltd., H Shares	480,000		128,727
	Huatai Securities Co., Ltd., Class H @±	59,000		93,430
	Huishang Bank Corp., Ltd., H Shares	70,400		30,568
	Industrial & Commercial Bank of China Ltd., H Shares	4,351,000		3,106,071
	Jiangxi Copper Co., Ltd., H Shares	79,000		92,917
	JinkoSolar Holding Co., Ltd. ADR *	2,344		23,182
	Joy City Property Ltd.	226,000		24,244
	Ju Teng International Holdings Ltd.	56,000		15,090
	K Wah International Holdings Ltd.	55,000		26,129
	Kaisa Group Holdings Ltd.	140,000		44,697
	Kingboard Chemical Holdings Ltd.	71,000		189,503

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
China (Continued)
	Kingboard Laminates Holdings Ltd.	58,000	$	47,849
	Kunlun Energy Co., Ltd.	318,000		337,067
	KWG Property Holding Ltd.	112,500		99,563
	Lee & Man Paper Manufacturing Ltd.	40,000		33,919
	Legend Holdings Corp., H Shares ±	19,000		49,741
	Longfor Properties Co., Ltd.	66,000		197,229
	Lonking Holdings Ltd.	99,000		25,665
	Maanshan Iron & Steel Co., Ltd., H Shares	116,000		51,108
	Maoye International Holdings Ltd.	82,000		5,550
	Metallurgical Corp., of China Ltd., H Shares	139,000		33,372
	Mingfa Group International Co., Ltd. *	91,000		—
	Minmetals Land Ltd.	152,000		25,429
	Modern Land China Co., Ltd. @	50,000		6,066
	Nine Dragons Paper Holdings Ltd.	101,000		93,513
	Orient Securities Co., Ltd., Class H ±	16,800		10,534
	Panda Green Energy Group Ltd. *	310,000		18,211
	PAX Global Technology Ltd. @	52,000		18,793
	People's Insurance Co., Group of China Ltd. (The), H Shares	352,000		141,600
	PetroChina Co., Ltd., H Shares	1,800,000		1,121,767
	PICC Property & Casualty Co., Ltd., H Shares	290,000		296,648
	Poly Culture Group Corp., Ltd., H Shares	6,400		8,353
	Poly Property Group Co., Ltd.	229,000		71,649
	Postal Savings Bank of China Co., Ltd., Class H ±	118,000		62,236
	Pou Sheng International Holdings Ltd.	87,000		16,777
	Powerlong Real Estate Holdings Ltd.	165,000		64,900
	PW Medtech Group Ltd. *	97,000		12,635
	Qinhuangdao Port Co., Ltd. H Shares	26,500		6,464
	Red Star Macalline Group Corp., Ltd., H Shares ±	18,456		15,839
	Renhe Commercial Holdings Co., Ltd. *	726,000		25,033
	Ronshine China Holdings Ltd. *	24,000		28,259
	Sany Heavy Equipment International Holdings Co. Ltd.	62,000		21,140
	Seaspan Corp. @	3,228		25,275
	Semiconductor Manufacturing International Corp. *@	198,800		173,907
	Shandong Chenming Paper Holdings Ltd., H Shares	35,250		20,167
	Shanghai Electric Group Co., Ltd., H Shares	104,000		33,204
	Shanghai Industrial Holdings Ltd.	45,000		91,029
	Shanghai Industrial Urban Development Group Ltd.	52,000		8,434
	Shanghai Jin Jiang International Hotels Group Co., Ltd., H Shares	148,000		35,911
	Shanghai Pharmaceuticals Holding Co., Ltd., Class H	34,900		70,954
	Shanghai Prime Machinery Co., Ltd., Class H *	106,000		14,214
	Shengjing Bank Co., Ltd., H Shares ±	28,000		12,193
	Shenzhen Investment Ltd.	347,143		114,820
	Shimao Property Holdings Ltd.	131,500		350,980
	Shougang Concord International Enterprises Co., Ltd. *	1,212,000		30,956
	Shougang Fushan Resources Group Ltd.	176,000		35,737
	Shui On Land Ltd.	127,500		28,332
	Shunfeng International Clean Energy Ltd. *@	220,000		14,610
	Sihuan Pharmaceutical Holdings Group Ltd.	117,000		20,470
	Sino-Ocean Land Holdings Ltd.	246,212		108,477
	Sinofert Holdings Ltd. *	244,000		28,044
	Sinopec Engineering Group Co., Ltd., H Shares	93,000		76,367
	Sinopec Kantons Holdings Ltd.	64,000		28,361
	Sinotrans Ltd., H Shares	170,000		73,814
	Sinotrans Shipping Ltd.	51,573		17,717
	Sinotruk Hong Kong Ltd. @	60,000		90,416
	Skyworth Digital Holdings Ltd.	224,477		48,447
	SOHO China Ltd. *	209,000		74,467
	Springland International Holdings Ltd.	99,000		19,596
	TCL Electronics Holdings Ltd.	38,667		14,814
	Technovator International Ltd. *	34,000		4,038
	Texhong Textile Group Ltd.	18,000		20,573
	Tian An China Investment Co., Ltd.	10,000		5,300
	Tianjin Port Development Holdings Ltd. *	180,000		19,079
	Tianneng Power International Ltd.	26,000		21,682
	Tomson Group Ltd.	24,000		6,774
	Truly International Holdings Ltd. *	120,000		14,558
	Universal Medical Financial & Technical Advisory Services Co., Ltd. @±	32,000		23,947
	Wasion Group Holdings Ltd.	48,000		23,355
	West China Cement Ltd.	198,000		26,803
	Xiamen International Port Co., Ltd., Class H	94,000		13,805
	Xingda International Holdings Ltd.	73,932		22,471
	Xtep International Holdings Ltd.	37,500		20,353
	Yanzhou Coal Mining Co., Ltd., H Shares	130,000		104,923
	YuanShengTai Dairy Farm Ltd. *	226,000		4,820
	Yuexiu Property Co., Ltd.	785,033		144,365
	Yuzhou Properties Co., Ltd.	62,451		25,760
	Zhong An Real Estate Ltd. *	89,000		3,012
	Zoomlion Heavy Industry Science & Technology Co., Ltd., H Shares	57,000		20,527
				35,030,013
Colombia — 0.3%
	Almacenes Exito SA	33,596		128,280
	Cementos Argos SA	21,491		46,059
	Constructora Conconcreto SA *	52,618		5,963
	Grupo Argos SA	49,281		256,459
	Grupo de Inversiones Suramericana SA	27,214		269,165
	Grupo Nutresa SA	4,377		31,673
				737,599
Czech Republic — 0.2%
	CEZ, AS	20,203		481,211
Greece — 0.1%
	Alpha Bank AE *	927		1,168
	Ellaktor SA *	11,652		16,608
	GEK Terna Holding Real Estate
	Construction SA *	8,282		45,548
	Hellenic Petroleum SA	4,212		35,615
	Marfin Investment Group Holdings SA *	45,244		3,681
	Mytilineos Holdings SA	7,016		58,601
				161,221
Hungary — 0.3%
	MOL Hungarian Oil & Gas PLC	40,125		440,772
	OTP Bank PLC	1,455		58,626
	Richter Gedeon Nyrt	3,388		65,656
				565,054
India — 13.5%
	ACC Ltd.	4,759		102,794
	Adani Enterprises Ltd.	48,033		110,390
	Adani Gas Ltd. *	48,033		69,007

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
Common Stocks (Continued)
India (Continued)
	Adani Green Energy Ltd. *	36,553	$	21,964
	Adani Transmissions Ltd. *	27,809		79,147
	Aditya Birla Capital Ltd. *	28,455		40,737
	Aditya Birla Fashion & Retail Ltd. *	2,498		7,212
	Allahabad Bank Ltd. *	20,823		13,765
	Ambuja Cements Ltd.	58,052		187,090
	Andhra Bank *	22,882		9,620
	Anveshan Heavy Engineering Ltd. *	498		682
	Apollo Tyres Ltd.	47,356		159,504
	Arvind Fashions Ltd. *	2,690		38,076
	Arvind Ltd.	13,452		18,863
	Ashoka Buildcon Ltd.	7,348		13,067
	Aurobindo Pharma Ltd.	21,564		226,373
	Axis Bank Ltd. *	134,335		1,192,785
	Axis Bank Ltd. GDR *	593		26,596
	Bajaj Holdings & Investment Ltd.	5,460		230,710
	Balkrishna Industries Ltd.	4,100		54,205
	Balrampur Chini Mills Ltd. *	11,186		16,351
	Bank of Baroda *	55,295		93,934
	Bharat Electronics Ltd.	56,373		70,895
	Bharat Heavy Electricals Ltd.	102,622		107,304
	Bharti Airtel Ltd.	223,068		997,839
	Bharti Infratel Ltd.	16,471		61,081
	Birla Corp., Ltd.	2,074		17,884
	Brigade Enterprises Ltd.	6,374		19,926
	Canara Bank *	16,899		66,468
	Ceat Ltd.	3,536		66,146
	Central Bank of India *	10,425		5,480
	CG Power and Industrial Solutions Ltd. *	49,779		32,086
	Chambal Fertilizers and Chemicals Ltd.	14,403		30,595
	Cipla Ltd.	13,757		102,269
	City Union Bank Ltd.	18,860		52,272
	Coffee Day Enterprises Ltd. *±	3,077		12,259
	Container Corp. Of India Ltd.	6,007		59,136
	Corporation Bank *	735		305
	Cox & Kings Financial Service Ltd. *	3,984		3,715
	Cox & Kings Ltd.	11,953		28,472
	Cyient Ltd.	7,451		66,276
	DCB Bank Ltd.	19,962		48,493
	DCM Shriram Ltd.	4,319		20,854
	Dewan Housing Finance Corp. Ltd.	30,512		108,605
	Dishman Carbogen Amcis Ltd. *	5,292		17,434
	DLF Ltd.	45,152		114,570
	Dr Reddy 's Laboratories Ltd., ADR @	10,396		391,929
	eClerx Services Ltd.	1,085		16,632
	EID Parry India Ltd.	7,288		21,520
	EIH Ltd.	9,682		27,736
	Engineers India Ltd.	17,822		32,011
	Federal Bank Ltd.	182,321		243,130
	Finolex Industries Ltd.	1,266		9,874
	Firstsource Solutions Ltd.	20,730		13,926
	Fortis Healthcare Ltd. *	35,112		70,385
	GAIL India Ltd.	99,156		510,018
	GAIL India Ltd., GDR	276		8,473
	Gateway Distriparks Ltd.	5,474		10,134
	Glenmark Pharmaceuticals Ltd.	12,966		128,611
	Granules India Ltd.	17,305		22,209
	Grasim Industries Ltd.	31,951		378,570
	Great Eastern Shipping Co., Ltd. (The)	11,618		52,544
	Gujarat Alkalies & Chemicals Ltd.	2,551		19,804
	Gujarat Fluorochemicals Ltd.	5,933		77,350
	Gujarat Narmada Valley Fertilizers & Chemicals Ltd.	4,596		22,448
	Gujarat Pipavav Port Ltd.	19,498		28,766
	Gujarat State Petronet Ltd.	21,418		53,810
	Himachal Futuristic Communications Ltd.	111,266		33,946
	Hindalco Industries Ltd.	154,577		499,278
	Housing Development & Infrastructure Ltd. *	33,952		12,839
	HSIL Ltd.	2,665		8,976
	ICICI Bank Ltd.	80,775		417,441
	ICICI Bank Ltd., ADR	82,445		848,359
	IDBI Bank Ltd. *	61,479		53,937
	Idea Cellular Ltd. *	260,350		140,589
	IDFC Bank Ltd.	184,580		114,743
	IDFC Ltd.	100,426		62,717
	IFCI Ltd. *	68,818		14,786
	IIFL Holdings Ltd.	25,376		183,591
	India Cements Ltd. (The)	31,361		43,011
	Indiabulls Housing Finance Ltd.	11,586		141,558
	Indiabulls Real Estate Ltd. *	29,702		37,098
	Indian Bank *	10,338		36,116
	Indian Hotels Co., Ltd. (The)	14,120		29,872
	Infosys Ltd.	13,066		123,445
	Ipca Laboratories Ltd.	4,046		46,365
	J Kumar Infraprojects Ltd.	2,087		3,949
	Jagran Prakashan Ltd.	8,773		14,727
	Jain Irrigation Systems Ltd.	44,473		44,559
	Jaiprakash Associates Ltd. *	179,807		19,960
	Jammu & Kashmir Bank Ltd. (The) *	24,690		13,333
	Jindal Saw Ltd.	14,261		17,312
	Jindal Steel & Power Ltd. *	46,366		109,415
	JK Cement Ltd.	1,001		10,230
	JM Financial Ltd.	26,872		35,892
	JSW Energy Ltd. *	75,011		73,867
	JSW Steel Ltd.	146,710		646,184
	Jubilant Life Sciences Ltd.	9,690		98,385
	Kalpataru Power Transmission Ltd.	5,415		30,327
	Karnataka Bank Ltd. (The)	25,825		41,522
	Karur Vysya Bank Ltd. (The)	50,658		64,216
	KPIT Technologies Ltd.	21,169		66,056
	KPR Mill Ltd.	1,232		9,925
	L&T Finance Holdings Ltd.	33,892		74,177
	Larsen & Toubro Ltd.	16,714		341,801
	Larsen & Toubro Ltd.	25,272		521,259
	Laurus Labs Ltd. ±	757		4,115
	LIC Housing Finance Ltd.	29,663		206,555
	Lupin Ltd.	31,166		376,702
	Mahindra & Mahindra Financial Services Ltd.	17,172		116,563
	Mahindra & Mahindra Ltd.	73,676		849,308
	Mahindra CIE Automotive Ltd. *	2,909		10,761
	Manappuram Finance Ltd.	52,506		70,018
	Max India Ltd. *	8,945		10,967
	Mphasis Ltd.	14,198		207,464
	MRF Ltd.	145		138,800
	Muthoot Finance Ltd.	15,546		115,345
	National Aluminium Co., Ltd.	66,123		62,462
	Nava Bharat Ventures Ltd.	7,718		13,288
	NCC Ltd.	58,777		74,339
	Oberoi Realty Ltd.	8,568		54,490
	Oriental Bank of Commerce *	14,300		19,561

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
India (Continued)
	PC Jeweller Ltd.	7,610	$	9,347
	Persistent Systems Ltd.	5,293		47,297
	Petronet LNG Ltd.	18,380		58,867
	Piramal Enterprises Ltd.	7,643		260,113
	Power Finance Corp. Ltd.	107,658		165,924
	Prakash Industries Ltd. *	3,119		3,726
	Prestige Estates Projects Ltd.	14,610		46,102
	PTC India Ltd.	28,037		37,288
	Punjab National Bank *	42,980		48,080
	Rain Industries Ltd.	7,350		14,170
	Rajesh Exports Ltd.	2,563		20,958
	Ramco Cements Ltd. (The)	1,003		9,209
	Rashtriya Chemicals & Fertilizers Ltd.	7,262		6,668
	Raymond Ltd.	3,276		39,620
	Redington India Ltd.	28,950		36,802
	Reliance Communications Ltd. *	167,238		34,494
	Reliance Industries Ltd.	354,872		5,719,684
	Reliance Industries Ltd., GDR ±	28,624		911,674
	Reliance Power Ltd. *	91,910		37,717
	Repco Home Finance Ltd.	2,062		11,782
	Rural Electrification Corp. Ltd.	117,454		204,407
	Sadbhav Engineering Ltd.	4,946		14,881
	Shilpa Medicare Ltd.	1,821		10,003
	Shipping Corp. of India Ltd. *	14,166		9,780
	Shriram City Union Finance Ltd.	2,207		49,802
	Shriram Transport Finance Co., Ltd.	20,278		359,581
	Sintex Plastics Technology Ltd. *	60,470		21,610
	Sobha Ltd.	6,105		39,858
	South Indian Bank Ltd. (The)	112,022		24,871
	Srei Infrastructure Finance Ltd.	9,293		4,825
	SRF Ltd.	2,665		75,999
	State Bank of India *	115,109		487,459
	State Bank of India Ltd., GDR *	2,800		119,280
	Steel Authority of India Ltd. *	48,344		39,124
	Strides Shasun Ltd.	3,502		23,172
	Sun Pharmaceutical Industries Ltd.	10,119		62,346
	Syndicate Bank *	19,381		10,882
	Tata Chemicals Ltd.	12,834		129,875
	Tata Global Beverages Ltd.	46,398		145,910
	Tata Motors Ltd. *@	4,939		60,157
	Tata Motors Ltd. *	190,099		471,197
	Tata Steel Ltd.	55,068		410,949
	Tata Steel Ltd.	3,626		4,646
	Tech Mahindra Ltd.	63,552		656,912
	TI Financial Holdings Ltd.	4,435		33,891
	Time Technoplast Ltd.	13,782		19,899
	Tube Investments of India Ltd.	4,281		21,830
	TV18 Broadcast Ltd. *	55,772		30,516
	Uflex Ltd.	3,166		12,849
	Union Bank of India *	28,863		35,430
	VA Tech Wabag Ltd.	3,303		12,272
	Vardhman Textiles Ltd.	2,832		45,432
	Vedanta Ltd.	216,392		626,565
	Vedanta Ltd., ADR @	14,869		171,588
	Vijaya Bank	27,968		20,030
	Welspun Corp., Ltd.	11,246		22,374
	Welspun India Ltd.	16,161		13,762
	Wipro Ltd.	133,303		631,335
	Wockhardt Ltd. *	4,111		30,793
	Yes Bank Ltd.	132,699		345,742
	Zensar Technologies Ltd.	5,610		18,654
				27,429,627
Indonesia — 2.4%
	Adaro Energy Tbk PT	2,508,900		211,983
	Adhi Karya Persero Tbk PT	265,600		29,275
	Agung Podomoro Land Tbk PT *	1,262,900		13,349
	Alam Sutera Realty Tbk PT *	2,593,800		56,277
	Aneka Tambang Tbk PT	812,316		43,214
	Astra Agro Lestari Tbk PT	61,744		50,773
	Astra Otoparts Tbk PT	19,600		2,004
	Bank Bukopin Tbk PT *	428,300		8,101
	Bank Danamon Indonesia Tbk PT	378,773		200,186
	Bank Mandiri Tbk PT	1,493,700		766,067
	Bank Negara Indonesia Persero Tbk PT	1,027,766		628,953
	Bank Pan Indonesia Tbk PT *	763,800		60,817
	Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT	287,000		40,914
	Bank Pembangunan Daerah Jawa Timur Tbk PT	69,000		3,311
	Bank Tabungan Negara Tbk PT	671,490		118,608
	Bank Tabungan Pensiunan Nasional Tbk PT	239,100		57,198
	Barito Pacific Tbk PT	278,900		46,354
	BISI International Tbk PT	94,000		10,949
	Bumi Serpong Damai Tbk PT *	972,900		84,909
	Ciputra Development Tbk PT	1,672,677		117,483
	Eagle High Plantations Tbk PT *	1,380,100		15,740
	Energi Mega Persada Tbk PT *	93,200		324
	Gajah Tunggal Tbk PT *	177,100		8,005
	Garuda Indonesia Persero Tbk PT *	400,470		8,299
	Global Mediacom Tbk PT	1,084,300		18,248
	Hanson International Tbk PT *	6,335,700		52,430
	Holcim Indonesia Tbk PT *	278,000		36,442
	Indah Kiat Pulp & Paper Corp., Tbk PT	334,000		268,268
	Indika Energy Tbk PT	35,200		3,880
	Indo Tambangraya Megah Tbk PT	43,600		61,398
	Indofood Sukses Makmur Tbk PT	571,200		295,928
	Intiland Development Tbk PT *	1,370,300		29,350
	Japfa Comfeed Indonesia Tbk PT	532,700		79,646
	Krakatau Steel Persero Tbk PT *	255,200		7,134
	Lippo Cikarang Tbk PT *	74,400		7,631
	Lippo Karawaci Tbk PT	2,347,075		41,457
	Medco Energi Internasional Tbk PT *	1,095,266		52,174
	Media Nusantara Citra Tbk PT	501,200		24,049
	Mitra Adiperkasa Tbk PT	518,000		28,998
	MNC Investama Tbk PT *	4,910,300		19,805
	Modernland Realty Tbk PT	1,758,100		27,631
	Pabrik Kertas Tjiwi Kimia Tbk PT	70,500		54,419
	Pakuwon Jati Tbk PT	295,800		12,754
	Panin Financial Tbk PT *	2,998,200		55,877
	Pembangunan Perumahan Persero Tbk PT	281,400		35,322
	Perusahaan Perkebunan London Sumatra Indonesia Tbk PT	387,700		33,701
	PP Properti Tbk PT	1,727,300		14,054
	Ramayana Lestari Sentosa Tbk PT	356,300		35,184
	Salim Ivomas Pratama Tbk PT	482,300		15,428
	Semen Indonesia Persero Tbk PT	282,100		225,602
	Sentul City Tbk PT *	1,477,400		11,199
	Siloam International Hospitals Tbk PT *	40,400		10,086
	Sri Rejeki Isman Tbk PT	996,900		24,819
	Summarecon Agung Tbk PT	674,800		37,776
	Surya Semesta Internusa Tbk PT	393,100		13,668
	Tiga Pilar Sejahtera Food Tbk PT *	168,600		1,477
	Timah Tbk PT	396,682		20,827
	Tunas Baru Lampung Tbk PT	317,700		19,111
	United Tractors Tbk PT	155,400		295,563
	Vale Indonesia Tbk PT *	218,900		49,625
	Visi Media Asia Tbk PT *	498,300		4,539

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Indonesia (Continued)
	Waskita Beton Precast Tbk PT	1,138,000	$	29,756
	Waskita Karya Persero Tbk PT	362,700		42,374
	Wijaya Karya Persero Tbk PT	459,200		52,849
	XL Axiata Tbk PT *	600,900		82,739
				4,816,311
Korea — 17.3%
	AK Holdings, Inc.	195		9,437
	Asia Cement Co., Ltd.	309		28,662
	Asia Paper Manufacturing Co. Ltd.	567		15,956
	Asiana Airlines, Inc. *	18,788		69,626
	BGF Co., Ltd.	4,970		35,945
	BNK Financial Group, Inc.	37,989		249,560
	Capro Corp.	3,814		14,818
	Chongkundang Holdings Corp.	360		20,165
	CJ CheilJedang Corp.	407		120,553
	CJ Corp.	1,685		183,480
	CJ Hellovision Co., Ltd.	4,225		34,685
	Daeduck Electronics Co.	7,395		60,311
	Daelim Industrial Co., Ltd.	4,243		389,772
	Daesang Corp.	3,420		76,780
	Daesang Holdings Co., Ltd.	3,626		25,543
	Daewoo Engineering & Construction Co., Ltd. *	18,477		89,255
	Daewoo Shipbuilding & Marine Engineering Co., Ltd. *	5,819		178,095
	Daishin Securities Co., Ltd.	5,898		59,995
	Daou Technology, Inc.	1,120		18,921
	DGB Financial Group, Inc.	24,113		179,583
	Dong Ah Tire & Rubber Co., Ltd. *	897		10,210
	Dong Ah Tire & Rubber Co., Ltd.	652		18,699
	Dong-A Socio Holdings Co., Ltd.	427		41,713
	Dongbu Insurance Co., Ltd.	5,871		370,423
	Dongkuk Steel Mill Co., Ltd.	7,956		51,552
	Dongwon Development Co., Ltd.	7,412		26,571
	Dongwon Industries Co., Ltd.	221		40,207
	Doosan Bobcat, Inc.	3,213		90,706
	Doosan Corp.	1,027		102,626
	Doosan Heavy Industries & Construction Co., Ltd. *	10,298		89,801
	Doosan Infracore Co., Ltd. *	21,468		146,032
	E-Mart Co., Ltd.	2,694		440,630
	Easy Bio, Inc.	6,222		33,792
	Eugene Corp.	10,995		61,587
	Eugene Investment & Securities Co., Ltd. *	8,694		18,505
	GS Engineering & Construction Corp.	6,437		252,392
	GS Holdings Corp.	9,519		440,205
	Halla Holdings Corp.	1,447		56,736
	Hana Financial Group, Inc.	46,863		1,522,480
	Handsome Co., Ltd.	1,970		64,001
	Hanil Cement Co., Ltd.	233		24,536
	Hanil Cement Co., Ltd.	191		8,918
	Hanjin Kal Corp.	5,790		154,635
	Hanjin Transportation Co., Ltd.	1,833		88,381
	Hankook Tire Co., Ltd.	10,761		387,215
	Hansol Holdings Co., Ltd.	6,970		31,233
	Hansol Paper Co., Ltd.	2,232		33,206
	Hansol Technics Co., Ltd. *	1,212		6,756
	Hanwha Chem Corp. *	20,042		362,832
	Hanwha Corp.	8,404		236,122
	Hanwha General Insurance Co., Ltd.	8,055		42,664
	Hanwha Investment & Securities Co., Ltd. *	18,065		32,947
	Hanwha Life Insurance Co., Ltd.	58,215		220,171
	Hanwha Techwin Co., Ltd. *	4,682		136,373
	HDC Hyundai Development Co.- Engineering & Construction *	1,703		73,566
	Heungkuk Fire & Marine Insurance Co., Ltd. *	7,083		29,867
	Hite Jinro Co., Ltd.	2,802		41,686
	Humax Co., Ltd. *	1,390		6,727
	Hy-Lok Corp.	918		13,534
	Hyosung Advanced Materials Corp. *	147		13,570
	Hyosung Chemical Corp. *	104		13,235
	Hyosung Corp. *	453		20,299
	Hyosung Heavy Industries Corp. *	306		11,340
	Hyosung TNC Co., Ltd. *	142		23,544
	Hyundai Construction Equipment Co., Ltd. *	1,558		59,622
	Hyundai Department Store Co., Ltd.	2,487		201,492
	Hyundai Development Co.	2,220		34,321
	Hyundai Electric & Energy System Co., Ltd. *	1,224		24,353
	Hyundai Engineering & Construction Co., Ltd.	9,420		460,954
	Hyundai Glovis Co., Ltd.	1,036		119,774
	Hyundai Greenfood Co., Ltd.	6,424		82,329
	Hyundai Heavy Industries Co., Ltd. *	3,849		443,266
	Hyundai Hy Communications & Networks Co., Ltd.	3,997		14,544
	Hyundai Livart Furniture Co. Ltd.	838		15,058
	Hyundai Mobis Co., Ltd.	188		32,013
	Hyundai Motor Co.	17,619		1,871,170
	Hyundai Motor Securities Co., Ltd. Hyundai Motor Securities Co Ltd	1,658		12,824
	Hyundai Robotics Co., Ltd. *	1,468		455,214
	Hyundai Steel Co.	15,304		620,636
	Hyundai Wia Corp.	3,011		97,821
	Ilshin Spinning Co., Ltd.	296		25,467
	iMarketKorea, Inc.	1,693		10,500
	Industrial Bank of Korea *	40,096		504,883
	Interpark Holdings Corp.	7,348		15,476
	IS Dongseo Co., Ltd.	1,670		45,873
	JB Financial Group Co., Ltd.	23,079		117,898
	KB Financial Group, Inc. *	6,566		273,632
	KB Financial Group, Inc., ADR *	50,104		2,103,366
	KCC Corp.	88		24,370
	KH Vatec Co., Ltd. *	2,458		18,042
	Kia Motors Corp.	32,165		971,465
	KISWIRE Ltd.	933		19,441
	KIWOOM Securities Co., Ltd.	487		34,131
	Kolon Corp.	985		27,278
	Kolon Industries, Inc.	2,613		134,186
	Korea Asset In Trust Co., Ltd.	4,957		19,547
	Korea Electric Terminal Co., Ltd.	682		24,816
	Korea Investment Holdings Co., Ltd.	6,241		332,801
	Korea Line Corp. *	2,642		51,500
	Korea Petrochemical Ind Co., Ltd.	363		49,938
	Korea Real Estate Investment & Trust Co., Ltd.	14,563		35,239
	Korean Air Lines Co., Ltd.	7,810		231,332
	Korean Reinsurance Co.	13,211		102,534
	KT Skylife Co., Ltd.	2,021		20,829

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Korea (Continued)
	Kukdo Chemical Co., Ltd.	393	$	16,079
	Kwang Dong Pharmaceutical Co., Ltd.	2,450		15,041
	Kyobo Securities Co., Ltd.	2,156		17,622
	LF Corp.	3,054		68,016
	LG Corp.	9,161		573,897
	LG Display Co., Ltd. *	12,166		196,806
	LG Display Co., Ltd., ADR *@	62,695		513,472
	LG Electronics, Inc. *	16,873		942,093
	LG Hausys Ltd.	907		46,008
	LG International Corp.	4,279		58,866
	LG Uplus Corp.	24,306		384,478
	Lotte Chemical Corp.	2,727		676,984
	Lotte Chilsung Beverage Co., Ltd.	47		58,971
	Lotte Confectionery Co., Ltd.	72		9,744
	Lotte Corp. *	758		35,801
	LOTTE Fine Chemicals Co., Ltd.	2,950		108,530
	LOTTE Himart Co., Ltd.	1,461		61,082
	Lotte Shopping Co., Ltd.	1,381		261,150
	LS Corp.	3,430		150,935
	Lumens Co., Ltd. *	5,701		14,664
	Mando Corp.	2,004		51,995
	Meritz Financial Group, Inc.	3,430		35,505
	Meritz Securities Co., Ltd.	51,373		197,057
	Mirae Asset Daewoo Co., Ltd.	50,889		297,818
	Mirae Asset Life Insurance Co., Ltd.	13,679		56,516
	Moorim P&P Co., Ltd.	2,365		12,845
	Muhak Co., Ltd.	2,076		25,303
	Namyang Dairy Products Co., Ltd.	41		22,929
	Nexen Corp.	2,630		12,964
	Nexen Tire Corp.	5,151		42,333
	NH Investment & Securities Co., Ltd.	17,499		204,662
	NHN Entertainment Corp. *	628		32,250
	Nong Shim Co., Ltd.	339		77,322
	Nong Shim Holdings Co., Ltd.	185		11,589
	NS Shopping Co., Ltd.	816		9,361
	OCI Co., Ltd.	2,344		224,779
	Orion Holdings Corp.	1,840		28,199
	Pan Ocean Co., Ltd. *	25,856		103,002
	Poongsan Corp.	2,993		73,363
	POSCO	984		214,296
	Posco Daewoo Corp.	7,508		122,464
	POSCO, ADR	51,211		2,813,532
	S&T Dynamics Co., Ltd. *	2,008		12,957
	S&T Motiv Co., Ltd.	1,233		29,891
	Sajo Industries Co., Ltd.	327		14,609
	Samsung C&T Corp.	4,059		383,782
	Samsung Card Co., Ltd.	3,768		116,674
	Samsung Electronics Co., Ltd.	1,450		50,291
	Samsung Fire & Marine Insurance Co., Ltd.	1,907		459,745
	Samsung Heavy Industries Co., Ltd. *	46,075		305,983
	Samsung Life Insurance Co., Ltd.	11,156		815,854
	Samsung Securities Co., Ltd.	7,725		218,083
	Samyang Corp.	427		21,048
	Samyang Holdings Corp.	578		40,664
	SeAH Besteel Corp.	1,570		24,905
	SeAH Steel Corp. §	235		10,383
	SeAH Steel Corp/New *	210		10,728
	Sebang Co., Ltd.	1,306		14,046
	Sebang Global Battery Co., Ltd.	944		30,415
	Seohan Co., Ltd.	5,607		9,347
	Shinhan Financial Group Co., Ltd. *	14,683		521,103
	Shinhan Financial Group Co., Ltd., ADR *@	38,643		1,371,440
	Shinsegae Co., Ltd.	1,093		250,769
	SK Chemicals Co., Ltd. *	1,713		107,465
	SK Chemicals Co., Ltd.	1,596		37,332
	SK Gas Co., Ltd.	889		56,329
	SK Holdings Co., Ltd.	395		92,042
	SK Innovation Co., Ltd.	11,354		1,826,531
	SK Networks Co., Ltd.	21,566		100,505
	SK Securities Co., Ltd. *	36,346		21,499
	SKC Co., Ltd.	3,866		124,039
	SL Corp.	2,574		46,022
	Ssangyong Motor Co. *	7,906		28,059
	Sung Kwang Bend Co., Ltd.	4,581		46,804
	Sungwoo Hitech Co., Ltd.	7,756		25,302
	Sunjin Co., Ltd. *	941		9,572
	Taekwang Industrial Co., Ltd.	61		72,163
	Taewoong Co., Ltd. *	2,152		20,251
	Taeyoung Engineering & Construction Co., Ltd.	6,376		64,857
	Tongyang Life Insurance Co., Ltd.	6,487		27,732
	Tongyang, Inc.	18,180		33,727
	Unid Co., Ltd.	1,035		38,959
	Wonik Holdings Co., Ltd. *	5,077		15,971
	Woori Bank *	57,755		807,473
	Woori Bank, ADR @	4,791		201,797
	Young Poong Corp.	46		30,713
	Youngone Corp. *	2,455		84,378
	Youngone Holdings Co., Ltd.	787		44,083
	Yuanta Securities Korea Co., Ltd. *	15,682		44,131
				35,094,078
Malaysia — 2.7%
	Aeon Co. M Bhd	37,500		13,339
	Affin Holdings Bhd	65,370		35,275
	AirAsia Bhd	239,300		171,983
	Alliance Financial Group Berhad	167,400		162,843
	AMMB Holdings Berhad	305,987		321,351
	Batu Kawan Berhad	18,800		75,882
	Berjaya Corp. Berhad *	455,775		31,433
	Berjaya Land Berhad *	215,200		11,717
	Boustead Holdings Berhad	114,039		38,910
	Boustead Plantations Bhd	55,720		10,113
	Bumi Armada Bhd *	442,100		16,582
	Cahya Mata Sarawak Bhd	38,500		25,061
	CIMB Group Holdings Bhd	835,824		1,154,883
	Coastal Contracts Bhd *	53,100		10,151
	DRB-Hicom Berhad	148,700		61,171
	Eastern & Oriental Bhd *	83,232		22,558
	Eco World Development Group Bhd *	176,300		38,609
	Ekovest Bhd	165,800		17,854
	Felda Global Ventures Holdings Bhd	258,800		44,777
	Gamuda Berhad	154,200		87,315
	Genting Bhd	20,800		30,703
	Genting Malaysia Bhd	308,100		225,157
	HAP Seng Consolidated Berhad	35,100		83,662
	Hap Seng Plantations Holdings Berhad	19,600		7,778
	Hengyuan Refining Co. Bhd	9,900		11,164
	Hong Leong Bank Bhd	14,300		70,592
	Hong Leong Financial Group Berhad	35,721		160,431
	IJM Corp. Berhad	421,460		165,218
	IOI Properties Group Bhd	244,750		91,208
	Jaya Tiasa Holdings Bhd	54,200		6,164
	KNM Group Bhd *	258,360		4,689
	KSL Holdings Bhd *	91,419		15,707
	Lotte Chemical Titan Holding Bhd ±	11,600		12,968
	Mah Sing Group Bhd	205,885		45,586

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Malaysia (Continued)
	Malayan Banking Bhd	153,165	$	352,103
	Malaysia Airports Holdings Bhd	25,200		51,101
	Malaysia Building Society Bhd	247,029		54,995
	Malaysian Pacific Industries Bhd	5,200		12,520
	Malaysian Resources Corp. Bhd	336,800		50,123
	Matrix Concepts Holdings Bhd	42,800		19,471
	Media Prima Bhd *	120,700		10,077
	Mega First Corp. Bhd	24,800		18,604
	MISC Berhad	186,120		301,755
	MKH Bhd	63,050		17,241
	MMC Corp. Berhad	115,100		23,117
	Muhibbah Engineering M Bhd	47,400		32,001
	Multi-Purpose Holdings Bhd	86,100		40,628
	Oriental Holdings Berhad	23,560		35,176
	OSK Holdings Berhad	74,455		15,675
	Parkson Holdings Bhd *	57,151		3,388
	Pos Malaysia Berhad	21,200		8,824
	PPB Group Berhad	21,600		91,888
	RHB Capital Berhad	130,771		167,400
	Sapura Energy Bhd *	662,200		46,470
	Sarawak Oil Palms Bhd	20,500		10,417
	Selangor Properties Bhd	6,500		8,966
	Sime Darby Bhd	240,200		139,499
	Sime Darby Property Bhd	177,600		42,762
	SP Setia Bhd Group	146,611		82,663
	Star Publications Malaysia Bhd	2,200		365
	Sunway Bhd	260,647		92,717
	Ta Ann Holdings Bhd	33,360		21,796
	TA Enterprise Bhd	140,200		21,374
	TA Global Berhad	55,560		3,361
	TAN Chong Motor Holdings Bhd	9,600		3,136
	Time dotCom Bhd	16,180		31,714
	UEM Sunrise Bhd	225,600		36,303
	UMW Holdings Bhd	12,900		17,075
	UMW Oil & Gas Corp. Bhd *	509,331		22,185
	Unisem M Bhd	98,500		78,180
	United Malacca Bhd	14,600		18,407
	UOA Development Bhd	113,100		58,021
	Wah Seong Corp. Bhd *	3,573		549
	WCT Holdings Bhd	159,955		26,127
	Yinson Holdings BHD	13,200		13,416
	YTL Corp. Berhad	741,645		181,261
				5,545,685
Mexico — 3.2%
	ALEATICA SAB de CV	17,691		22,875
	Alfa SAB de CV, Class A	432,223		514,443
	Alpek SA de CV *	61,784		75,549
	Arca Continental SAB de CV	11,460		64,089
	Banco del Bajio SA ±	4,544		8,842
	Banco Santander Mexico SA Institucion de        Banca Multiple Grupo Financiero Santand        Class B	230,619		285,872
	Becle SAB de CV	20,954		28,139
	Cemex SAB de CV *	1,367,238		660,947
	Coca-Cola Femsa SAB de CV, Series L	24,353		147,865
	Consorcio ARA SAB de CV	72,788		18,816
	Corp. Actinver SAB de CV	15,700		9,986
	Corpovael SA de CV	14,843		11,330
	Credito Real SAB de CV SOFOM ER	28,241		25,034
	El Puerto de Liverpool SAB de CV, Series C	16,147		103,677
	Elementia SAB de CV *±	22,420		14,375
	Genomma Lab Internacional SAB de CV, Series B *	44,630		26,594
	Gentera SAB de CV	98,754		72,865
	Grupo Aeromexico SAB de CV *	36,839		41,616
	Grupo Carso SAB de CV, Series A	48,027		172,026
	Grupo Cementos de Chihuahua SAB de CV	12,907		66,316
	Grupo Comercial Chedraui SA de CV	54,670		109,859
	Grupo Elektra SAB de CV	2,657		128,099
	Grupo Financiero Banorte SAB de CV	224,444		1,095,623
	Grupo Financiero Inbursa SA	193,280		279,026
	Grupo Herdez SAB de CV	19,563		40,815
	Grupo Hotelero Santa Fe SAB de CV *	22,600		9,534
	Grupo Industrial Saltillo SAB de CV	17,740		24,373
	Grupo Mexico SAB de CV, Series B	472,560		975,575
	Grupo Rotoplas SAB de CV	8,503		9,731
	Grupo Sanborns SAB de CV	49,041		44,170
	Grupo Simec SAB de CV, Series B *	4,376		13,632
	Grupo Televisa SAB	68,599		172,477
	Hoteles City Express SAB de CV *	17,476		21,396
	Industrias Bachoco SAB de CV, ADR @	1,639		64,839
	Industrias Bachoco SAB de CV, Series B	5,634		18,566
	Industrias CH SAB de CV, Series B *	23,916		103,432
	Industrias Penoles SAB de CV	13,511		165,005
	La Comer SAB de CV *	37,216		37,951
	Mexichem SAB de CV	150,008		380,979
	Minera Frisco SAB de CV, Class A1 *	59,337		15,731
	Nemak SAB de CV ±	56,001		41,833
	Organizacion Cultiba SAB de CV	12,807		11,209
	Organizacion Soriana SAB de CV, Class B *	92,061		135,245
	Promotora y Operadora de Infraestructura        SAB de CV	15,765		150,689
	Promotora y Operadora de Infraestructura        SAB de CV	1,600		10,055
	TV Azteca SAB de CV	109,303		13,015
	Unifin Financiera SAB de CV SOFOM ENR	6,817		14,504
	Vitro SAB de CV, Series A	11,941		32,198
				6,490,817
Philippines — 1.2%
	Alliance Global Group, Inc.	479,100		108,420
	Bank of the Philippine Islands	39,769		71,090
	BDO Unibank, Inc.	140,857		350,368
	Belle Corp.	180,000		7,907
	Cebu Air, Inc.	23,560		32,796
	CEMEX Holdings Philippines, Inc. *±	125,000		4,516
	China Banking Corp.	80,076		41,268
	Cosco Capital, Inc.	257,000		32,794
	DMCI Holdings, Inc.	109,000		26,491
	East West Banking Corp. *	72,150		16,328
	Emperador, Inc.	147,300		19,916
	Filinvest Land, Inc.	1,435,000		38,478
	First Philippine Holdings Corp.	33,750		41,558
	GT Capital Holdings, Inc.	7,141		132,404
	International Container Terminal Services, Inc.	34,740		66,064
	JG Summit Holdings, Inc.	312,620		331,139
	Lopez Holdings Corp.	414,200		31,507

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Philippines (Continued)
	LT Group, Inc.	220,200	$	69,513
	Megaworld Corp.	1,270,700		114,782
	Metropolitan Bank & Trust	75,200		115,764
	Petron Corp.	421,800		61,844
	Philex Mining Corp.	66,900		3,931
	Philippine National Bank *	30,748		24,997
	Pilipinas Shell Petroleum Corp.	22,540		20,468
	Premium Leisure Corp.	846,000		12,871
	Rizal Commercial Banking Corp.	47,790		25,901
	Robinsons Land Corp.	353,155		135,325
	Robinsons Retail Holdings, Inc.	22,800		34,687
	San Miguel Corp.	67,120		187,632
	Security Bank Corp.	22,320		65,791
	Top Frontier Investment Holdings, Inc. *	8,630		40,996
	Travellers International Hotel Group, Inc. *	183,800		18,560
	Union Bank of the Philippines	8,590		10,447
	Vista Land & Lifescapes, Inc.	778,900		80,134
				2,376,687
Poland — 1.7%
	Alior Bank SA *	2,291		32,538
	Amica SA	306		9,387
	Asseco Poland SA	14,266		175,811
	Bank Millennium SA *	54,859		130,025
	Bank Polska Kasa Opieki SA	3,121		90,903
	Ciech SA	1,973		23,355
	Cyfrowy Polsat SA *	19,613		118,233
	Enea SA *	32,379		85,655
	Grupa Azoty SA	6,701		55,831
	Grupa Lotos SA	16,759		396,321
	Jastrzebska Spolka Weglowa SA *	2,123		38,156
	Kernel Holding SA	6,315		82,600
	KGHM Polska Miedz SA *	14,110		335,109
	LC Corp. SA	26,490		17,342
	Lubelski Wegiel Bogdanka SA *	963		13,201
	mBank SA	910		103,150
	Netia SA *	17,231		23,022
	Orbis SA	1,581		38,106
	PGE SA *	101,693		271,736
	PKP Cargo SA *	3,933		46,136
	Polski Koncern Naftowy Orlen SA	34,685		1,002,360
	Powszechna Kasa Oszczednosci Bank Polski SA	18,510		195,222
	Stalprodukt SA	83		7,097
	Tauron Polska Energia SA *	117,990		69,047
	VRG SA *	11,906		12,853
				3,373,196
Russia — 2.2%
	Gazprom PAO, ADR	279,913		1,239,735
	Lukoil PJSC, ADR	37,639		2,690,436
	Magnitogorsk Iron & Steel Works PJSC, GDR	5,895		48,869
	Rosneft Oil Co. PJSC, GDR	50,362		311,237
	RusHydro PJSC, ADR	61,905		40,981
	VTB Bank PJSC	115,250		127,697
				4,458,955
Singapore — 0.0%
	Grindrod Shipping Holdings Ltd. *	905		4,740
South Africa — 6.8%
	Absa Group Ltd.	90,077		1,013,120
	Aeci Ltd.	22,951		133,216
	African Oxygen Ltd.	8,358		15,975
	African Phoenix Investments Ltd. *	72,611		2,170
	African Rainbow Minerals Ltd.	16,801		166,229
	Alexander Forbes Group Holdings Ltd.	100,385		35,863
	Allied Electronics Corp., Ltd., Class A	12,228		15,298
	Alviva Holdings Ltd.	14,413		17,631
	Anglo American Platinum Ltd.	3,445		128,804
	AngloGold Ashanti Ltd.	22,931		289,676
	AngloGold Ashanti Ltd., ADR	47,680		598,384
	ArcelorMittal South Africa Ltd. *	23,974		5,649
	Ascendis Health Ltd. *	19,546		5,652
	Aspen Pharmacare Holdings Ltd.	23,728		222,346
	Assore Ltd.	3,341		67,343
	Aveng Ltd. *	559,813		1,945
	Barloworld Ltd.	39,661		317,398
	Blue Label Telecoms Ltd. *	17,959		6,753
	Caxton & CTP Publishers & Printers Ltd.	18,814		10,592
	Clover Industries Ltd.	27,051		34,200
	DataTec Ltd.	54,410		103,469
	EOH Holdings Ltd. *	6,411		13,733
	Exxaro Resources Ltd.	30,820		295,336
	Gold Fields Ltd., ADR	163,422		575,245
	Grindrod Ltd. *	36,236		15,489
	Group Five Ltd. *	12,182		169
	Harmony Gold Mining Co., Ltd., ADR *	55,043		98,527
	Hudaco Industries Ltd.	4,134		40,307
	Impala Platinum Holdings Ltd. *	51,101		130,279
	Imperial Holdings Ltd.	34,161		161,456
	Investec Ltd.	35,003		192,197
	Invicta Holdings Ltd. @	2,388		5,776
	KAP Industrial Holdings Ltd.	227,015		127,965
	Kumba Iron Ore Ltd. @	4,638		91,245
	Lewis Group Ltd.	16,007		38,929
	Liberty Holdings Ltd.	21,825		166,864
	Life Healthcare Group Holdings Ltd.	97,689		179,252
	Merafe Resources Ltd.	282,183		27,851
	Metair Investments Ltd.	23,331		31,622
	Mmi Holdings Ltd. *	152,272		181,298
	Mpact Ltd.	27,799		40,595
	MTN Group Ltd.	258,486		1,598,975
	Murray & Roberts Holdings Ltd.	70,150		70,455
	Nampak Ltd. *	66,852		64,355
	Nedbank Group Ltd.	31,375		599,085
	Omnia Holdings Ltd.	11,411		67,019
	Peregrine Holdings Ltd.	23,191		30,255
	PPC Ltd. *	147,503		60,488
	Raubex Group Ltd.	16,897		19,965
	RCL Foods Ltd.	15,951		15,521
	Reunert Ltd.	23,002		113,223
	Rhodes Food Group Pty Ltd.	12,062		15,015
	Royal Bafokeng Platinum Ltd. *	9,415		17,328
	Sappi Ltd.	89,490		507,862
	Sasol Ltd.	25,120		742,033
	Sasol Ltd., ADR	34,337		1,005,731
	Sibanye-Stillwater *	265,573		184,955
	Standard Bank Group Ltd.	200,112		2,487,022
	Steinhoff International Holdings NV *@	277,126		33,130
	Super Group Ltd. *	56,256		132,707
	Telkom SA SOC Ltd.	55,054		242,180
	Tongaat Hulett Ltd.	15,539		60,255
	Trencor Ltd.	18,684		37,076
	Tsogo Sun Holdings Ltd.	43,003		64,052
	Wilson Bayly Holmes-Ovcon Ltd.	6,827		62,744
				13,837,279

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Taiwan — 16.1%
	A-DATA Technology Co., Ltd.	20,000	$	25,897
	Ability Enterprise Co., Ltd.	25,195		11,804
	AcBel Polytech, Inc.	46,000		28,285
	Acer, Inc. *	267,884		169,514
	Alpha Networks, Inc.	53,200		28,645
	Altek Corp.	23,905		19,210
	Ambassador Hotel (The)	20,000		14,966
	AmTRAN Technology Co., Ltd. *	99,360		36,367
	Arcadyan Technology Corp.	17,000		41,370
	Ardentec Corp.	39,092		33,067
	Asia Cement Corp.	269,269		297,416
	Asia Pacific Telecom Co., Ltd. *	192,000		43,101
	Asia Polymer Corp.	29,508		12,576
	Asia Vital Components Co., Ltd.	53,000		43,539
	Asustek Computer, Inc.	75,000		491,671
	AU Optronics Corp.	868,000		347,347
	AU Optronics Corp., ADR @	73,574		289,882
	BES Engineering Corp.	229,000		53,046
	Capital Securities Corp.	256,437		74,669
	Career Technology MFG. Co., Ltd.	19,418		16,457
	Casetek Holdings Ltd.	23,751		30,406
	Cathay Financial Holding Co., Ltd.	1,181,000		1,805,869
	Cathay Real Estate Development Co., Ltd.	70,000		45,434
	Chang Hwa Commercial Bank Ltd.	621,155		347,590
	Cheng Loong Corp.	114,000		69,171
	Cheng Uei Precision Industry Co., Ltd.	62,543		48,224
	Chia Hsin Cement Corp.	22,000		9,734
	Chilisin Electronics Corp.	11,380		29,064
	Chin-Poon Industrial Co., Ltd.	55,000		64,507
	China Airlines Ltd.	422,111		151,063
	China Bills Finance Corp.	110,000		49,029
	China Chemical & Pharmaceutical Co., Ltd.	19,000		11,188
	China Development Financial Holding Corp.	1,322,468		418,206
	China Life Insurance Co., Ltd.	260,243		235,799
	China Metal Products	31,000		39,082
	China Motor Corp.	56,195		44,427
	China Steel Corp.	2,044,800		1,613,248
	China Synthetic Rubber Corp.	85,491		108,334
	Chipbond Technology Corp.	82,000		165,403
	ChipMOS TECHNOLOGIES, Inc.	28,897		24,538
	Chun Yuan Steel	30,000		9,858
	Chung Hung Steel Corp. *	105,000		36,552
	Chung Hwa Pulp Corp.	79,367		24,943
	Chung-Hsin Electric & Machinery Manufacturing Corp.	55,000		34,535
	Clevo Co. *	71,000		70,337
	CMC Magnetics Corp. *	288,337		62,851
	Compal Electronics, Inc.	671,000		380,940
	Compeq Manufacturing Co., Ltd.	127,000		81,810
	Continental Holdings Corp.	42,000		19,267
	Coretronic Corp.	64,800		80,217
	CSBC Corp. *	28,303		23,389
	CTBC Financial Holding Co., Ltd.	2,578,280		1,694,416
	CyberTAN Technology, Inc.	37,000		18,538
	D-Link Corp. *	77,112		30,231
	Darfon Electronics Corp.	17,000		21,708
	Darwin Precisions Corp.	38,000		19,843
	Depo Auto Parts Ind Co., Ltd.	12,000		26,509
	Dynapack International Technology Corp.	23,000		33,673
	E Ink Holdings, Inc.	75,000		73,568
	E.Sun Financial Holding Co., Ltd.	1,107,213		724,045
	Elite Semiconductor Memory Technology, Inc.	45,000		43,994
	Elitegroup Computer Systems Co., Ltd. *	58,877		23,657
	Entie Commercial Bank Co., Ltd.	45,000		18,959
	Epistar Corp.	146,828		122,289
	Eternal Materials Co., Ltd.	44,991		34,325
	Eva Airways Corp.	351,192		180,526
	Everest Textile Co., Ltd. *	44,553		16,814
	Evergreen International Storage & Transport Corp.	54,000		23,717
	Evergreen Marine Corp., Taiwan Ltd.	272,944		105,672
	Everlight Chemical Industrial Corp.	56,000		29,606
	Everlight Electronics Co., Ltd.	51,000		49,030
	Far Eastern Department Stores Ltd.	134,220		68,558
	Far Eastern International Bank	316,450		102,954
	Far Eastern New Century Corp.	519,338		471,404
	Farglory Land Development Co., Ltd.	51,721		58,053
	Federal Corp. *	75,590		26,683
	First Financial Holding Co., Ltd.	882,394		574,158
	First Steamship Co., Ltd. *	36,000		12,708
	FocalTech Systems Co., Ltd.	26,000		22,627
	Formosa Advanced Technologies Co., Ltd.	20,000		20,692
	Formosa Taffeta Co., Ltd.	46,000		51,706
	Formosan Rubber Group, Inc.	55,080		27,955
	Formosan Union Chemical	19,715		9,493
	Foxconn Technology Co., Ltd.	41,127		80,951
	Fubon Financial Holding Co., Ltd.	1,119,211		1,713,208
	Fulltech Fiber Glass Corp.	31,000		15,633
	Gemtek Technology Corp.	47,000		35,093
	Getac Technology Corp.	45,000		58,854
	Giantplus Technology Co., Ltd.	37,000		11,749
	Gigabyte Technology Co., Ltd.	65,000		85,012
	Gigastorage Corp. *	77,000		18,563
	Gloria Material Technology Corp.	94,392		50,978
	Goldsun Building Materials Co., Ltd.	193,953		52,752
	Grand Pacific Petrochemical	148,000		105,209
	Great Wall Enterprise Co., Ltd.	94,481		102,974
	Green Energy Technology, Inc. *	40,149		3,435
	Hannstar Board Corp.	36,000		26,763
	HannStar Display Corp.	443,770		101,641
	HannsTouch Solution, Inc. *	30,000		7,262
	Hey Song Corp.	31,750		30,937
	Highwealth Construction Corp.	86,000		125,907
	Hiroca Holdings Ltd.	8,000		19,546
	Ho Tung Chemical Corp.	108,688		22,984
	Hon Hai Precision Industry Co., Ltd.	1,145,068		2,637,564
	Hong Pu Real Estate Development Co., Ltd.	45,000		28,695
	HTC Corp. *	69,000		79,355
	Hua Nan Financial Holdings Co., Ltd.	717,126		408,293
	Huaku Development Co., Ltd.	39,000		86,407
	Hung Sheng Construction Co., Ltd.	79,200		65,835
	Ichia Technologies, Inc. *	72,000		30,335
	Innolux Corp.	1,550,757		490,398
	Inventec Co., Ltd.	261,282		187,438
	Jih Sun Financial Holdings Co., Ltd.	241,032		67,753
	KEE TAI Properties Co., Ltd.	60,000		24,108
	Kindom Construction Corp.	42,000		27,944
	King Yuan Electronics Co., Ltd.	185,100		140,013
	King's Town Bank Co., Ltd.	121,000		113,572
	Kinpo Electronics	230,000		75,577

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Taiwan (Continued)
	Kinsus Interconnect Technology Corp.	44,000	$	62,413
	Kuoyang Construction Co., Ltd.	45,493		18,205
	L&K Engineering Co., Ltd.	16,000		13,274
	LCY Chemical Corp.	61,000		104,587
	Lealea Enterprise Co., Ltd.	109,406		35,131
	Lextar Electronics Corp.	40,000		23,229
	Li Peng Enterprise Co., Ltd. *	91,245		23,481
	Lien Hwa Industrial Corp.	53,815		51,912
	Lingsen Precision Industries Ltd.	41,000		12,018
	Lite-On Semiconductor Corp.	21,000		18,378
	Lite-On Technology Corp.	319,874		422,516
	Long Bon International Co., Ltd.	57,400		32,774
	Long Chen Paper Co., Ltd.	86,249		39,986
	Lumax International Corp., Ltd.	7,200		14,640
	Macronix International	42,171		25,176
	MediaTek, Inc.	19,000		141,865
	Mega Financial Holding Co., Ltd.	1,149,850		970,772
	Mercuries & Associates Holdings Ltd.	60,495		35,131
	Mercuries Life Insurance Co., Ltd. *	137,105		51,966
	MIN AIK Technology Co., Ltd.	25,600		12,160
	Mitac Holdings Corp.	41,458		33,248
	Motech Industries, Inc. *	36,775		10,170
	Nan Ya Printed Circuit Board Corp. *	24,200		26,612
	Nanya Technology Corp.	129,000		230,829
	Neo Solar Power Corp. *	172,197		43,866
	Nien Hsing Textile Co., Ltd.	21,957		18,430
	O-Bank Co., Ltd.	43,000		11,192
	OptoTech Corp.	57,722		34,084
	Orient Semiconductor Electronics Ltd. *	42,485		16,310
	Pan Jit International, Inc. *	24,000		19,872
	Pan-International Industrial Corp.	34,380		22,203
	Pegatron Corp.	288,249		482,025
	POU Chen Corp.	332,133		352,264
	Powertech Technology, Inc.	23,000		49,462
	President Securities Corp.	109,122		40,827
	Prince Housing & Development Corp.	148,970		49,435
	Qisda Corp.	288,400		184,842
	Radiant Opto-Electronics Corp.	66,000		181,443
	Radium Life Tech Co., Ltd. *	99,488		44,505
	Rich Development Co., Ltd.	120,978		35,344
	Ritek Corp. *	87,399		30,709
	Ruentex Development Co., Ltd. §	50,949		74,177
	Ruentex Industries Ltd.	29,400		75,181
	Sampo Corp.	49,600		22,430
	San Fang Chemical Industry Co., Ltd.	13,000		10,066
	Sanyang Industry Co., Ltd.	76,573		49,825
	Sesoda Corp.	22,000		18,144
	Shihlin Electric & Engineering Corp.	27,000		35,971
	Shin Kong Financial Holding Co., Ltd.	1,491,692		435,321
	Shin Zu Shing Co., Ltd.	16,000		43,830
	Shining Building Business Co., Ltd. *	71,552		23,628
	Shinkong Insurance Co., Ltd.	30,000		34,063
	Shinkong Synthetic Fibers Corp.	186,151		69,950
	Sigurd Microelectronics Corp.	53,000		46,642
	Simplo Technology Co., Ltd.	12,600		85,265
	Sincere Navigation Corp.	27,000		14,011
	Sinon Corp.	64,000		34,877
	SinoPac Financial Holdings Co., Ltd.	1,166,094		390,759
	Sirtec International Co., Ltd.	12,000		9,877
	Solar Applied Materials Technology Co. *	22,039		13,086
	Supreme Electronics Co., Ltd.	39,000		34,322
	Synnex Technology International Corp.	138,300		163,780
	Systex Corp.	20,000		40,017
	Ta Ya Electric Wire & Cable	46,000		15,190
	Taichung Commercial Bank Co., Ltd.	346,715		115,057
	Taiflex Scientific Co., Ltd.	25,740		28,472
	Tainan Spinning Co., Ltd.	142,427		55,373
	Taishin Financial Holding Co., Ltd.	1,034,364		439,160
	Taiwan Business Bank	424,594		142,973
	Taiwan Cement Corp.	670,001		776,004
	Taiwan Cogeneration Corp.	19,000		15,485
	Taiwan Cooperative Financial Holding Co., Ltd.	855,596		491,306
	Taiwan Fertilizer Co., Ltd.	78,000		109,627
	Taiwan FU Hsing Industrial Co., Ltd.	21,000		23,229
	Taiwan Glass Industrial Corp.	169,321		71,062
	Taiwan Hon Chuan Enterprise Co., Ltd.	36,925		57,063
	Taiwan PCB Techvest Co., Ltd.	28,000		25,279
	Taiwan Shin Kong Security Co., Ltd.	10,000		12,493
	Taiwan Surface Mounting Technology Co., Ltd.	27,518		34,826
	Tatung Co., Ltd. *	3,784		3,189
	Teco Electric & Machinery Co., Ltd.	229,000		130,008
	Test Rite International Co., Ltd.	36,000		26,353
	Thye Ming Industrial Co., Ltd.	10,000		9,890
	Ton Yi Industrial Corp.	120,000		47,435
	Tong Yang Industry Co., Ltd.	20,921		25,082
	TPK Holding Co., Ltd.	46,000		72,284
	Tripod Technology Corp.	25,000		64,905
	TSRC Corp.	26,000		22,881
	Tung Ho Steel Enterprise Corp.	119,000		73,560
	TXC Corp.	56,000		59,030
	TYC Brother Industrial Co., Ltd.	21,000		16,465
	U-Ming Marine Transport Corp.	47,000		49,314
	Unimicron Technology Corp.	197,000		142,925
	Union Bank of Taiwan	152,020		47,430
	Unitech Printed Circuit Board Corp.	67,320		29,896
	United Microelectronics Corp.	2,099,513		768,439
	Universal Cement Corp.	46,836		28,799
	UPC Technology Corp.	140,727		53,110
	USI Corp.	132,130		51,155
	Wah Lee Industrial Corp.	25,000		40,342
	Walsin Lihwa Corp.	424,000		231,057
	Wan Hai Lines Ltd.	100,650		52,229
	Waterland Financial Holdings Co., Ltd.	277,944		86,176
	Weikeng Industrial Co., Ltd.	31,087		18,913
	Winbond Electronics Corp.	447,893		197,448
	Wisdom Marine Lines Co., Ltd.	58,280		54,986
	Wistron Corp.	457,431		284,248
	WPG Holdings Ltd. §	225,400		270,961
	WT Microelectronics Co., Ltd.	71,265		89,959
	Yang Ming Marine Transport Corp. *	145,100		41,542
	YC Co., Ltd.	20,000		9,142
	YC INOX Co., Ltd.	50,000		39,773
	Yea Shin International Development Co., Ltd.	29,995		15,175
	Yeong Guan Energy Technology Group Co., Ltd.	18,000		29,339
	YFY, Inc.	150,385		55,042
	Yieh Phui Enterprise Co., Ltd.	156,241		52,356
	Youngtek Electronics Corp.	12,000		15,675
	Yuanta Financial Holding Co., Ltd.	1,469,815		738,805
	Yulon Motor Co., Ltd.	123,272		72,992
	Yung Chi Paint & Varnish Manufacturing        Co., Ltd.	5,000		11,468
	Zhen Ding Technology Holding Ltd.	62,000		161,772

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

		SHARES	VALUE†
COMMON STOCKS (Continued)
Taiwan (Continued)
	Zinwell Corp.	43,000	$	28,259
				32,569,609
Thailand — 3.2%
	Ananda Development PCL	180,700		17,981
	AP Thailand PCL	185,700		34,220
	Asia Aviation PCL	299,900		38,685
	Bangchak Corp. PCL	63,400		61,823
	Bangkok Bank PCL, NVDR	16,600		103,495
	Bangkok Insurance PCL	2,100		21,219
	Bangkok Land PCL	1,039,700		48,217
	Bangkok Life Assurance PCL	32,500		26,202
	Bank of Ayudhya PCL	23,400		27,489
	Banpu PCL	232,250		105,568
	Cal-Comp Electronics Thailand PCL	121,100		6,583
	Charoen Pokphand Foods PCL	386,700		292,163
	GFPT PCL	49,100		18,096
	Golden Land Property Development PCL	80,600		17,328
	Hana Microelectronics PCL	63,900		64,763
	IRPC PCL	1,038,700		183,431
	Italian-Thai Development PCL *	193,100		12,691
	Kasikornbank PCL, NVDR	127,100		722,159
	Khon Kaen Sugar Industry PCL	135,600		12,411
	Kiatnakin Bank PCL	37,800		76,912
	Krung Thai Bank PCL	310,275		182,963
	LH Financial Group PCL	653,200		27,484
	LPN Development PCL	56,200		10,874
	Polyplex Thailand PCL	40,600		16,210
	Precious Shipping PCL *	87,600		23,272
	Pruksa Holding PCL	59,400		31,561
	PTT Exploration & Production PCL	166,700		581,095
	PTT Global Chemical PCL	267,428		585,204
	PTT PCL	1,214,300		1,715,534
	Quality Houses PCL	280,800		22,595
	Rojana Industrial Park PCL	98,400		14,204
	Sansiri PCL	425,700		15,428
	SC Asset Corp. PCL	188,600		15,639
	Siam Commercial Bank PCL	153,600		629,779
	Sri Trang Agro-Industry PCL	45,500		19,704
	Star Petroleum Refining PCL	180,700		53,278
	Supalai PCL	39,300		21,967
	SVI PCL	75,100		11,256
	Thai Airways International PCL *	92,500		34,375
	Thai Oil PCL	124,700		253,728
	Thaicom PCL	48,300		8,975
	Thanachart Capital PCL	55,100		84,190
	Thoresen Thai Agencies PCL	166,348		26,567
	TMB Bank PCL	899,300		60,763
	True Corp. PCL	725,800		115,914
	Vinythai PCL	42,500		26,106
				6,480,101
Turkey — 0.9%
	Akbank TAS	265,407		344,014
	Anadolu Efes Biracilik Ve Malt Sanayii AS	9,865		38,398
	Enka Insaat ve Sanayi AS	42,972		37,187
	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D *	1		—
	Sekerbank TAS *	54,778		11,385
	Selcuk Ecza Deposu Ticaret ve Sanayi AS	11,784		6,212
	Trakya Cam Sanayi AS	76,578		43,841
	Turk Hava Yollari *	81,666		248,586
	Turk Sise ve Cam Fabrikalari AS	81,699		87,526
	Turkiye Garanti Bankasi AS	348,574		524,261
	Turkiye Halk Bankasi AS	66,222		87,837
	Turkiye Is Bankasi	188,214		161,098
	Turkiye Sinai Kalkinma Bankasi AS	190,047		29,086
	Turkiye Vakiflar Bankasi TAO	113,664		83,758
	Yapi ve Kredi Bankasi AS *	194,984		58,946
				1,762,135
	TOTAL COMMON STOCKS
	(Identified Cost $205,339,074)			198,569,886
PREFERRED STOCKS — 1.8%
Brazil — 1.7%
	Banco ABC Brasil SA, 6.650%	10,453		45,526
	Banco do Estado do Rio Grande do Sul SA, PF B, 5.570%	22,800		130,479
	Banco Pan SA, 3.510%	11,300		5,685
	Cia Brasileira de Distribuicao, 1.670%	3,300		68,950
	Cia Ferro Ligas da Bahia - FERBASA, 6.090%	4,895		25,828
	Marcopolo SA, 1.050%	65,910		69,383
	Petroleo Brasileiro SA, 0.380%	325,907		1,907,133
	Petroleo Brasileiro SA, ADR, 0.360%	99,174		1,149,427
	Randon SA Implementos e Participacoes, 1.280%	11,100		26,520
	Usinas Siderurgicas de Minas Gerais SA, PF A, 0.480%	29,912		71,158
				3,500,089
Colombia — 0.1%
	Avianca Holdings SA, 6.420%	41,262		21,092
	Grupo Argos SA, 2.400%	12,517		55,888
	Grupo de Inversiones Suramericana SA, 1.600%	12,842		122,903
				199,883
Korea — 0.0%
	CJ Corp. *	252		8,281
	TOTAL PREFERRED STOCKS
	(Identified Cost $3,226,663)			3,708,253
RIGHTS AND WARRANTS — 0.0%
Brazil — 0.0%
	Marcopolo SA *	1,569		348
Indonesia — 0.0%
	Medco Energi Internasional Tbk PT *	207,566		2,310
Malaysia — 0.0%
	Sapura Energy Bhd *~	1,368,547		—
	TOTAL RIGHTS AND WARRANTS
	(Identified Cost $0)			2,658
SHORT-TERM INVESTMENTS — 1.0%
Collateral For Securities On Loan — 1.0%
	State Street Navigator Securities Lending        Government Money Market Portfolio,        2.350%	1,994,409		1,994,409
	TOTAL SHORT-TERM INVESTMENTS
	(Identified Cost $1,994,409)			1,994,409

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF DECEMBER 31, 2018 (Unaudited) (Continued)

	SHARES	VALUE†
Total Investments — 100.8%
(Identified Cost $210,560,146)			204,275,206
Liabilities, Less Cash and Other Assets — (0.8%)			(1,668,700	)
Net Assets — 100.0%		$	202,606,506

†	See Note 1
*	Non-income producing security
@	A portion or all of the security/securities were held on loan. As of December 31, 2018, the market value of the securities on loan was $4,006,071.
±	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, 2018 amounted to $1,438,059 or 0.65% 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.

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
	P.L.C.	Public Limited Company
	SA	Special Assessment
	ST	Special Tax
Investment Footnotes
	»	Securities that have generally been fair value factored. See Note B to Financial Statements.
	‡	Calculated as a percentage of total net assets. Percentages shown parenthetically next to the categoryheadings have been calculated as a percentage of total investments. “Other Securities” are those securitiesthat are not among the top 50 holdings in unaffiliated issuers of the Fund or do not represent more than 1.0%of the net assets of the Fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities.
	#	Total or Partial Securities on Loan.
	*	Non-Income Producing Securities.
	@	Security purchased with cash proceeds from Securities on Loan.
	§	Affiliated Fund.
	†	See Note B to Financial Statements.
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)
		and/or Underlying 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, 2018
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (95.6%)
Consumer Discretionary — (19.1%)
#	Adastria Co., Ltd.	210,740	$	2,668,714	0.1%
#	Adventure, Inc.	17,700		1,177,448	0.0%
	Aeon Fantasy Co., Ltd.	50,532		2,945,549	0.1%
#*	AGORA Hospitality Group Co., Ltd.	372,000		110,591	0.0%
	Ahresty Corp.	137,600		1,226,422	0.0%
#	Aigan Co., Ltd.	86,100		338,565	0.0%
	Aisan Industry Co., Ltd.	248,800		2,094,907	0.1%
#*	Akebono Brake Industry Co., Ltd.	750,600		1,818,222	0.1%
#	Alpen Co., Ltd.	122,400		2,630,743	0.1%
	Alpha Corp.	42,200		597,593	0.0%
	Alpine Electronics, Inc.	277,500		5,722,079	0.1%
	Amiyaki Tei Co., Ltd.	28,600		1,182,919	0.0%
	Amuse, Inc.	83,298		2,235,985	0.1%
*	Anrakutei Co., Ltd.	1,500		64,540	0.0%
#	AOI TYO Holdings, Inc.	109,931		1,546,736	0.0%
	AOKI Holdings, Inc.	256,000		3,735,774	0.1%
	Aoyama Trading Co., Ltd.	315,300		10,520,122	0.3%
	Arata Corp.	86,900		5,245,797	0.1%
	Arcland Sakamoto Co., Ltd.	207,900		3,118,013	0.1%
#	Arcland Service Holdings Co., Ltd.	106,300		2,254,539	0.1%
	As-me ESTELLE Co., Ltd.	12,600		89,407	0.0%
	Asahi Broadcasting Group Holdings Corp.	62,100		466,581	0.0%
	Asahi Co., Ltd.	125,100		1,763,425	0.1%
	Asante, Inc.	37,400		716,154	0.0%
#	Ashimori Industry Co., Ltd.	29,399		635,139	0.0%
#	Asrapport Dining Co., Ltd.	103,200		533,413	0.0%
#	Asti Corp.	18,600		385,252	0.0%
#	Atom Corp.	676,300		6,563,913	0.2%
	Atsugi Co., Ltd.	124,300		1,309,011	0.0%
	Autobacs Seven Co., Ltd.	503,300		8,911,919	0.2%
	Avex, Inc.	266,500		3,695,612	0.1%
#	Baroque Japan, Ltd.	89,500		799,906	0.0%
	Beauty Garage, Inc.	10,300		223,559	0.0%
	Beenos, Inc.	42,800		684,700	0.0%
	Belluna Co., Ltd.	346,200		4,364,759	0.1%
	Bookoff Corp.	59,400		420,163	0.0%
#	BRONCO BILLY Co., Ltd.	72,400		3,005,864	0.1%
	Can Do Co., Ltd.	62,300		984,326	0.0%
	Central Automotive Products, Ltd.	81,500		1,363,966	0.0%
	Central Sports Co., Ltd.	45,900		1,746,928	0.1%
	CHIMNEY Co., Ltd.	34,700		923,944	0.0%
	Chiyoda Co., Ltd.	113,200		2,618,532	0.1%
#	Chofu Seisakusho Co., Ltd.	137,100		2,969,161	0.1%
	Chori Co., Ltd.	76,300		1,347,257	0.0%
	Chuo Spring Co., Ltd.	20,000		687,949	0.0%
#	Clarion Co., Ltd.	805,000		2,161,495	0.1%
	Cleanup Corp.	131,500		1,031,269	0.0%
#	Coco's Japan Co., Ltd.	50,900		1,088,661	0.0%
#	Colowide Co., Ltd.	408,500		10,912,424	0.3%
	Corona Corp.	103,100		1,128,323	0.0%
	Create Restaurants Holdings, Inc.	312,800		4,571,664	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
#	Cross Plus, Inc.	9,800	$	71,483	0.0%
	D.A. Consortium Holdings, Inc.	183,400		5,110,105	0.1%
	Daido Metal Co., Ltd.	233,800		2,378,701	0.1%
#	Daidoh, Ltd.	174,200		696,483	0.0%
#	Daikoku Denki Co., Ltd.	58,000		976,071	0.0%
	Daikyonishikawa Corp.	264,400		3,862,994	0.1%
	Dainichi Co., Ltd.	69,100		512,570	0.0%
	Daisyo Corp.	47,200		759,688	0.0%
	Daiyu Lic Holdings Co., Ltd.	65,500		692,583	0.0%
#	DCM Holdings Co., Ltd.	672,000		6,286,241	0.2%
#	DD Holdings Co., Ltd.	30,400		772,225	0.0%
	Descente, Ltd.	286,100		5,062,910	0.1%
	Doshisha Co., Ltd.	159,100		3,595,317	0.1%
	Doutor Nichires Holdings Co., Ltd.	221,186		4,389,213	0.1%
#	Dynic Corp.	42,200		392,992	0.0%
	Eagle Industry Co., Ltd.	176,200		2,828,145	0.1%
	EAT&Co, Ltd.	30,300		569,366	0.0%
	EDION Corp.	482,400		4,852,132	0.1%
#	ES-Con Japan, Ltd.	250,300		1,466,380	0.0%
	ESCRIT, Inc.	54,300		397,018	0.0%
	Exedy Corp.	210,200		6,505,962	0.2%
	F-Tech, Inc.	90,000		1,051,496	0.0%
	FCC Co., Ltd.	224,800		6,332,925	0.2%
#	Felissimo Corp.	20,000		249,619	0.0%
#	Fields Corp.	107,400		1,013,005	0.0%
#	Fine Sinter Co., Ltd.	9,800		220,955	0.0%
	First Juken Co., Ltd.	43,500		547,095	0.0%
#	First-corp, Inc.	49,600		490,125	0.0%
	FJ Next Co., Ltd.	103,200		952,078	0.0%
	Foster Electric Co., Ltd.	155,800		2,229,004	0.1%
	France Bed Holdings Co., Ltd.	160,700		1,408,615	0.0%
*	FreakOut Holdings, Inc.	5,000		94,941	0.0%
	Fuji Co., Ltd.	148,100		3,095,919	0.1%
#	Fuji Corp.	37,400		905,055	0.0%
	Fuji Corp., Ltd.	184,800		1,650,441	0.1%
#	Fuji Kyuko Co., Ltd.	160,800		4,800,419	0.1%
	Fujibo Holdings, Inc.	74,700		2,425,381	0.1%
	Fujikura Rubber, Ltd.	134,600		753,637	0.0%
#	Fujio Food System Co., Ltd.	59,400		1,071,096	0.0%
#	Fujishoji Co., Ltd.	56,600		630,658	0.0%
#	Fujita Kanko, Inc.	59,100		1,748,412	0.1%
	Fujitsu General, Ltd.	433,800		6,779,734	0.2%
	FuKoKu Co., Ltd.	63,900		555,608	0.0%
#*	Funai Electric Co., Ltd.	145,300		833,352	0.0%
#	Furukawa Battery Co., Ltd. (The)	96,500		746,182	0.0%
	Furyu Corp.	78,400		672,984	0.0%
	Futaba Industrial Co., Ltd.	424,300		2,663,227	0.1%
	G-Tekt Corp.	132,800		2,246,369	0.1%
	Gakken Holdings Co., Ltd.	31,300		1,396,040	0.0%
	Gakkyusha Co., Ltd.	53,400		898,638	0.0%
#	Genki Sushi Co., Ltd.	36,500		1,155,018	0.0%
#	Geo Holdings Corp.	247,800		3,314,047	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
#	Gfoot Co., Ltd.	90,700	$	638,604	0.0%
#	Global, Ltd. (The)	57,700		425,632	0.0%
	GLOBERIDE, Inc.	68,199		2,470,166	0.1%
#	Gokurakuyu Holdings Co., Ltd.	76,200		492,488	0.0%
#	Goldwin, Inc.	77,600		6,711,214	0.2%
#	Golf Digest Online, Inc.	69,000		683,298	0.0%
	Gourmet Kineya Co., Ltd.	49,000		590,706	0.0%
#	GSI Creos Corp.	39,100		528,403	0.0%
	Gunze, Ltd.	119,500		7,650,503	0.2%
	H-One Co., Ltd.	133,400		1,464,872	0.0%
	H2O Retailing Corp.	388,300		6,187,615	0.2%
	Hagihara Industries, Inc.	88,200		1,511,332	0.0%
#	Hakuyosha Co., Ltd.	13,600		410,526	0.0%
#	Hamee Corp.	43,100		551,047	0.0%
#	Handsman Co., Ltd.	37,500		430,103	0.0%
	Happinet Corp.	114,000		1,442,104	0.0%
#	Harada Industry Co., Ltd.	57,600		424,145	0.0%
	Hard Off Corp. Co., Ltd.	60,900		546,172	0.0%
	Haruyama Holdings, Inc.	56,500		523,923	0.0%
	Heian Ceremony Service Co., Ltd.	8,300		69,455	0.0%
	Heiwa Corp.	383,500		9,250,874	0.2%
	HI-LEX Corp.	94,600		2,395,844	0.1%
	Hiday Hidaka Corp.	152,387		3,408,103	0.1%
#	Himaraya Co., Ltd.	35,900		343,272	0.0%
#	Hinokiya Group Co., Ltd.	43,200		1,181,759	0.0%
#	Hiramatsu, Inc.	256,500		1,175,267	0.0%
	HIS Co., Ltd.	297,700		8,966,195	0.2%
	Honeys Holdings Co., Ltd.	113,440		974,372	0.0%
#	Hoosiers Holdings	352,200		2,524,840	0.1%
#	Hotland Co., Ltd.	66,800		791,693	0.0%
#	House Do Co., Ltd.	45,200		1,047,889	0.0%
	HUB Co., Ltd.	35,400		376,541	0.0%
	I K K, Inc.	65,900		482,817	0.0%
#	I.K Co., Ltd.	37,700		846,094	0.0%
#	IBJ, Inc.	131,600		809,379	0.0%
	Ichibanya Co., Ltd.	93,158		4,068,079	0.1%
	Ichikoh Industries, Ltd.	244,500		2,916,608	0.1%
	IDOM, Inc.	520,600		2,874,442	0.1%
	IJT Technology Holdings Co., Ltd.	160,380		1,287,604	0.0%
#	Imagica Robot Holdings, Inc.	101,200		842,630	0.0%
	Imasen Electric Industrial	122,400		1,295,478	0.0%
	Intage Holdings, Inc.	235,400		2,660,970	0.1%
#*	Izutsuya Co., Ltd.	61,699		196,042	0.0%
	Janome Sewing Machine Co., Ltd.	127,600		813,557	0.0%
	Japan Best Rescue System Co., Ltd.	132,900		1,062,900	0.0%
	Japan Wool Textile Co., Ltd. (The)	377,400		3,501,583	0.1%
	JINS, Inc.	96,800		5,525,134	0.1%
#	Joban Kosan Co., Ltd.	41,199		682,732	0.0%
#	Jolly - Pasta Co., Ltd.	22,600		351,318	0.0%
	Joshin Denki Co., Ltd.	133,200		4,170,853	0.1%
#	Joyful Honda Co., Ltd.	15,800		241,457	0.0%
	JP-Holdings, Inc.	374,800		1,192,263	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	JVC Kenwood Corp.	1,000,930	$	2,831,768	0.1%
*	Kadokawa Dwango	379,733		4,196,686	0.1%
	Kasai Kogyo Co., Ltd.	165,800		2,052,010	0.1%
	Kawai Musical Instruments Manufacturing Co., Ltd.	44,800		2,080,427	0.1%
	Keihin Corp.	296,300		6,012,629	0.2%
#	Keiyo Co., Ltd.	228,800		1,134,664	0.0%
#	KFC Holdings Japan, Ltd.	105,200		1,893,364	0.1%
#	Ki-Star Real Estate Co., Ltd.	49,900		1,182,558	0.0%
	King Co., Ltd.	44,900		207,346	0.0%
*	Kintetsu Department Store Co., Ltd.	56,100		2,029,763	0.1%
*	KNT-CT Holdings Co., Ltd.	83,200		1,164,979	0.0%
	Kohnan Shoji Co., Ltd.	179,800		4,185,417	0.1%
*	Kojima Co., Ltd.	224,900		1,082,642	0.0%
	Komatsu Seiren Co., Ltd.	226,400		1,985,705	0.1%
	KOMEDA Holdings Co., Ltd.	336,400		6,614,156	0.2%
	Komehyo Co., Ltd.	52,500		931,532	0.0%
	Komeri Co., Ltd.	217,900		5,528,582	0.1%
	Konaka Co., Ltd.	190,306		894,874	0.0%
	Koshidaka Holdings Co., Ltd.	324,800		4,769,550	0.1%
#	Kourakuen Holdings Corp.	74,600		1,138,736	0.0%
	KU Holdings Co., Ltd.	130,900		1,128,123	0.0%
	Kura Corp.	76,500		5,076,036	0.1%
	Kurabo Industries, Ltd.	1,299,000		4,098,080	0.1%
	Kushikatsu Tanaka Co.	20,100		518,023	0.0%
	KYB Corp.	144,300		6,555,649	0.2%
#	Kyoritsu Maintenance Co., Ltd.	212,762		11,658,262	0.3%
	Kyoto Kimono Yuzen Co., Ltd.	8,800		50,237	0.0%
#*	Laox Co., Ltd.	206,900		761,899	0.0%
#	LEC, Inc.	86,100		3,588,901	0.1%
	LIFULL Co., Ltd.	392,300		2,592,696	0.1%
*	LIKE Kidsnext Co., Ltd.	12,100		148,974	0.0%
#*	Litalico, Inc.	39,100		710,373	0.0%
#	Look Holdings, Inc.	45,600		560,192	0.0%
#	Mamiya-Op Co., Ltd.	32,700		336,335	0.0%
	Mars Engineering Corp.	85,600		2,013,778	0.1%
#*	Maruzen CHI Holdings Co., Ltd.	77,000		275,281	0.0%
#	Matsuya Co., Ltd.	174,800		2,627,568	0.1%
	Matsuya Foods Co., Ltd.	64,900		2,208,092	0.1%
	Meiko Network Japan Co., Ltd.	137,500		1,582,649	0.0%
	Meiwa Estate Co., Ltd.	80,000		475,441	0.0%
	Mikuni Corp.	159,200		793,543	0.0%
	Misawa Homes Co., Ltd.	150,400		1,247,779	0.0%
	Mitsuba Corp.	233,290		1,868,419	0.1%
	Mitsui Home Co., Ltd.	197,000		1,186,675	0.0%
	Mizuno Corp.	130,100		4,857,319	0.1%
#	Monogatari Corp. (The)	39,900		4,060,354	0.1%
	Morito Co., Ltd.	102,200		918,423	0.0%
	MrMax Holdings, Ltd.	176,100		1,082,089	0.0%
	Murakami Corp.	28,700		754,134	0.0%
	Musashi Seimitsu Industry Co., Ltd.	155,800		5,165,227	0.1%
	Nafco Co., Ltd.	47,500		790,428	0.0%
	Nagawa Co., Ltd.	37,800		1,633,370	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
*	Naigai Co., Ltd.	29,700	$	146,743	0.0%
#	Nakayamafuku Co., Ltd.	57,800		387,599	0.0%
#	Nextage Co., Ltd.	227,000		2,588,160	0.1%
	NHK Spring Co., Ltd.	83,600		786,934	0.0%
#	Nice Holdings, Inc.	49,500		598,544	0.0%
	Nichirin Co., Ltd.	62,660		1,291,035	0.0%
	Nihon Eslead Corp.	53,800		922,995	0.0%
#	Nihon House Holdings Co., Ltd.	304,300		1,541,241	0.0%
	Nihon Plast Co., Ltd.	103,100		873,203	0.0%
	Nihon Tokushu Toryo Co., Ltd.	87,400		1,850,683	0.1%
	Nikki Co., Ltd.	2,100		47,248	0.0%
#	Nippon Felt Co., Ltd.	80,200		372,690	0.0%
	Nippon Piston Ring Co., Ltd.	48,600		994,267	0.0%
	Nippon Seiki Co., Ltd.	303,700		5,735,739	0.1%
	Nippon View Hotel Co., Ltd.	41,400		534,505	0.0%
	Nishikawa Rubber Co., Ltd.	28,100		610,515	0.0%
	Nishimatsuya Chain Co., Ltd.	325,800		3,744,328	0.1%
	Nissan Shatai Co., Ltd.	533,700		4,859,404	0.1%
	Nissan Tokyo Sales Holdings Co., Ltd.	170,000		550,361	0.0%
	Nissei Build Kogyo Co., Ltd.	227,800		2,337,441	0.1%
	Nissin Kogyo Co., Ltd.	285,500		5,048,118	0.1%
	Nittan Valve Co., Ltd.	117,800		377,862	0.0%
	Nojima Corp.	216,300		4,803,446	0.1%
	Ohashi Technica, Inc.	63,600		1,044,912	0.0%
	Ohsho Food Service Corp.	93,900		5,353,291	0.1%
#	Omikenshi Co., Ltd.	322,000		275,483	0.0%
	Onward Holdings Co., Ltd.	847,200		6,495,884	0.2%
	Ootoya Holdings Co., Ltd.	37,600		754,883	0.0%
#*	Open Door, Inc.	71,700		1,470,837	0.0%
#	OPT Holding, Inc.	117,500		2,498,155	0.1%
#	Otsuka Kagu, Ltd.	82,500		277,290	0.0%
	Ozu Corp.	20,900		393,698	0.0%
	Pacific Industrial Co., Ltd.	327,600		4,807,004	0.1%
	PAL GROUP Holdings Co., Ltd.	83,400		1,969,284	0.1%
	PALTAC Corp.	40,734		2,342,439	0.1%
#	PAPYLESS Co., Ltd.	30,900		507,305	0.0%
	Parco Co., Ltd.	144,400		1,571,424	0.0%
	Paris Miki Holdings, Inc.	171,000		772,747	0.0%
#	PC Depot Corp.	8,081		42,311	0.0%
	People Co., Ltd.	19,600		241,669	0.0%
#	Pepper Food Service Co., Ltd.	89,300		3,672,352	0.1%
#	PIA Corp.	36,900		2,075,050	0.1%
	Piolax, Inc.	198,700		4,783,768	0.1%
#*	Pioneer Corp.	2,489,100		3,454,404	0.1%
#	Plenus Co., Ltd.	144,800		2,372,737	0.1%
	Press Kogyo Co., Ltd.	623,200		3,651,318	0.1%
	Pressance Corp.	250,100		3,859,748	0.1%
	Proto Corp.	88,400		1,157,079	0.0%
#	Raccoon Co., Ltd.	86,300		438,155	0.0%
	Regal Corp.	1,500		38,339	0.0%
	Renaissance, Inc.	75,800		1,721,682	0.1%
#*	Renown, Inc.	366,700		479,216	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
#	Resol Holdings Co., Ltd.	16,799	$	664,422	0.0%
	Resorttrust, Inc.	231,500		4,089,525	0.1%
	Rhythm Watch Co., Ltd.	55,900		1,045,145	0.0%
#	Riberesute Corp.	54,900		456,054	0.0%
#	Ride On Express Holdings Co., Ltd.	56,400		982,582	0.0%
#	Right On Co., Ltd.	119,625		1,152,628	0.0%
	Riken Corp.	65,400		3,421,030	0.1%
	Ringer Hut Co., Ltd.	167,400		3,917,631	0.1%
#	Riso Kyoiku Co., Ltd.	242,400		1,852,739	0.1%
	Round One Corp.	491,800		7,719,845	0.2%
#	Royal Holdings Co., Ltd.	206,300		5,647,294	0.1%
*	Royal Hotel, Ltd. (The)	2,100		36,074	0.0%
#*	RVH, Inc.	85,200		254,131	0.0%
	Sac's Bar Holdings, Inc.	136,150		1,220,403	0.0%
	Saizeriya Co., Ltd.	207,500		4,740,032	0.1%
	Sakai Ovex Co., Ltd.	33,999		724,782	0.0%
	San Holdings, Inc.	30,300		693,021	0.0%
#*	Sanden Holdings Corp.	150,400		1,960,077	0.1%
	Sanei Architecture Planning Co., Ltd.	66,400		1,123,669	0.0%
	Sangetsu Corp.	348,450		7,051,894	0.2%
	Sanko Marketing Foods Co., Ltd.	6,700		60,486	0.0%
	Sankyo Seiko Co., Ltd.	225,500		931,851	0.0%
	Sanoh Industrial Co., Ltd.	169,300		1,077,504	0.0%
	Sanyei Corp.	4,300		165,255	0.0%
	Sanyo Electric Railway Co., Ltd.	117,198		2,837,917	0.1%
	Sanyo Housing Nagoya Co., Ltd.	75,100		821,999	0.0%
#	Sanyo Shokai, Ltd.	96,199		1,926,239	0.1%
	Scroll Corp.	211,500		1,094,497	0.0%
#	Seiko Holdings Corp.	206,281		4,428,905	0.1%
	Seiren Co., Ltd.	343,900		5,350,410	0.1%
#*	Senshukai Co., Ltd.	205,800		962,647	0.0%
	Septeni Holdings Co., Ltd.	408,000		893,714	0.0%
	SFP Holdings Co., Ltd.	74,500		1,354,087	0.0%
#	Shidax Corp.	149,000		632,190	0.0%
	Shikibo, Ltd.	77,900		899,386	0.0%
	Shimachu Co., Ltd.	282,300		8,965,101	0.2%
	Shimojima Co., Ltd.	31,900		320,986	0.0%
#	Shobunsha Publications, Inc.	258,500		1,802,666	0.1%
#	Shoei Co., Ltd.	88,000		3,107,012	0.1%
	Showa Corp.	352,200		5,788,640	0.1%
	SKY Perfect JSAT Holdings, Inc.	1,001,200		4,769,644	0.1%
	SNT Corp.	214,300		859,932	0.0%
	Soft99 Corp.	81,800		855,815	0.0%
#	Sotoh Co., Ltd.	41,400		380,736	0.0%
	SPK Corp.	22,200		560,938	0.0%
	SRS Holdings Co., Ltd.	23,400		212,653	0.0%
	St Marc Holdings Co., Ltd.	115,300		2,844,483	0.1%
	Starts Corp., Inc.	224,900		5,475,659	0.1%
	Step Co., Ltd.	59,400		884,369	0.0%
	Studio Alice Co., Ltd.	65,000		1,539,579	0.0%
#	Suminoe Textile Co., Ltd.	37,900		925,859	0.0%
	Sumitomo Riko Co., Ltd.	274,000		2,807,910	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Suncall Corp.	113,000	$	724,128	0.0%
#	Syuppin Co., Ltd.	153,800		2,346,611	0.1%
	T RAD Co., Ltd.	51,200		1,585,481	0.1%
	T-Gaia Corp.	141,800		3,618,757	0.1%
	Tachi-S Co., Ltd.	224,140		3,754,413	0.1%
#	Tachikawa Corp.	71,100		964,130	0.0%
	Taiho Kogyo Co., Ltd.	114,500		1,320,185	0.0%
#	Take And Give Needs Co., Ltd.	67,570		1,239,214	0.0%
	Takihyo Co., Ltd.	31,700		693,934	0.0%
#	Tama Home Co., Ltd.	114,100		1,057,290	0.0%
	Tamron Co., Ltd.	126,400		2,245,662	0.1%
	TBK Co., Ltd.	138,800		611,297	0.0%
	Tear Corp.	61,900		592,523	0.0%
#	Tenpos Holdings Co., Ltd.	31,400		609,340	0.0%
	Tigers Polymer Corp.	82,900		573,372	0.0%
	Toa Corp.	162,200		1,781,032	0.1%
#	Toabo Corp.	54,799		278,900	0.0%
	Toei Animation Co., Ltd.	87,800		3,060,041	0.1%
	Toei Co., Ltd.	46,900		4,800,307	0.1%
	Tohokushinsha Film Corp.	56,600		398,950	0.0%
	Tokai Rika Co., Ltd.	377,300		7,153,307	0.2%
	Token Corp.	52,950		4,665,640	0.1%
#*	Tokyo Base Co., Ltd.	143,500		1,095,348	0.0%
	Tokyo Dome Corp.	628,300		5,611,035	0.1%
	Tokyo Individualized Educational Institute, Inc.	121,000		1,067,252	0.0%
	Tokyo Radiator Manufacturing Co., Ltd.	24,300		216,537	0.0%
#	Tokyotokeiba Co., Ltd.	107,300		4,631,761	0.1%
#	Tokyu Recreation Co., Ltd.	20,400		903,493	0.0%
	Tomy Co., Ltd.	611,893		5,071,823	0.1%
	Topre Corp.	242,200		6,087,192	0.2%
	Toridoll Holdings Corp.	155,900		3,680,151	0.1%
#	Torikizoku Co., Ltd.	54,600		1,277,484	0.0%
	Tosho Co., Ltd.	112,200		4,280,675	0.1%
	Tow Co., Ltd.	119,000		873,288	0.0%
#	Toyo Tire & Rubber Co., Ltd.	346,700		5,054,473	0.1%
	TPR Co., Ltd.	164,700		3,832,950	0.1%
	TS Tech Co., Ltd.	63,900		2,662,005	0.1%
	TSI Holdings Co., Ltd.	522,195		3,686,995	0.1%
#	Tsukada Global Holdings, Inc.	109,400		631,602	0.0%
	Tsukamoto Corp. Co., Ltd.	19,000		210,596	0.0%
	Tsutsumi Jewelry Co., Ltd.	57,100		946,890	0.0%
	TV Asahi Holdings Corp.	109,300		2,397,646	0.1%
	Tv Tokyo Holdings Corp.	104,500		3,190,430	0.1%
#*	U-Shin, Ltd.	138,900		887,432	0.0%
	Ukai Co., Ltd.	5,900		234,417	0.0%
	Umenohana Co., Ltd.	14,700		376,372	0.0%
	Unipres Corp.	274,000		5,361,181	0.1%
	United Arrows, Ltd.	163,600		6,096,005	0.2%
#*	Unitika, Ltd.	425,600		2,420,534	0.1%
	ValueCommerce Co., Ltd.	124,900		2,086,372	0.1%
#	Vector, Inc.	186,900		3,859,223	0.1%
*	Vega Corp. Co., Ltd.	1,700		28,270	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
#*	VIA Holdings, Inc.	129,600	$	858,368	0.0%
#	Village Vanguard Co., Ltd.	40,600		373,440	0.0%
*	Visionary Holdings Co., Ltd.	637,300		988,313	0.0%
#	VT Holdings Co., Ltd.	577,100		3,033,432	0.1%
	Wacoal Holdings Corp.	364,700		10,622,013	0.3%
	Waseda Academy Co., Ltd.	8,200		178,613	0.0%
#	WATAMI Co., Ltd.	163,100		2,138,084	0.1%
	Watts Co., Ltd.	59,800		597,529	0.0%
	Weds Co., Ltd.	10,300		69,999	0.0%
	Workman Co., Ltd.	24,800		1,028,052	0.0%
	Wowow, Inc.	42,600		1,351,648	0.0%
	Xebio Holdings Co., Ltd.	202,000		3,212,454	0.1%
	Yachiyo Industry Co., Ltd.	51,600		556,310	0.0%
	Yagi & Co., Ltd.	16,000		321,374	0.0%
	Yamato International, Inc.	113,400		632,794	0.0%
#	Yasunaga Corp.	53,900		877,446	0.0%
	Yellow Hat, Ltd.	112,200		3,311,506	0.1%
	Yomiuri Land Co., Ltd.	26,300		1,098,746	0.0%
#	Yondoshi Holdings, Inc.	127,320		3,112,203	0.1%
	Yorozu Corp.	147,300		2,262,973	0.1%
#	Yoshinoya Holdings Co., Ltd.	165,000		3,289,043	0.1%
	Yossix Co., Ltd.	23,300		680,739	0.0%
#	Yume No Machi Souzou Iinkai Co., Ltd.	162,700		3,377,152	0.1%
	Yutaka Giken Co., Ltd.	8,500		200,534	0.0%
	Zenrin Co., Ltd.	250,850		6,059,502	0.2%
	Zojirushi Corp.	277,700		3,388,739	0.1%
Total Consumer Discretionary				839,975,746	19.8%
Consumer Staples — (8.1%)
#	Aeon Hokkaido Corp.	261,700		1,916,969	0.1%
	AFC-HD AMS Life Science Co., Ltd.	37,700		247,651	0.0%
	Ain Holdings, Inc.	46,700		3,441,967	0.1%
	Albis Co., Ltd.	39,900		1,153,084	0.0%
	Aohata Corp.	2,100		49,333	0.0%
	Arcs Co., Ltd.	281,500		7,680,825	0.2%
	Ariake Japan Co., Ltd.	25,900		2,229,389	0.1%
	Artnature, Inc.	138,200		853,456	0.0%
	Axial Retailing, Inc.	108,400		4,119,333	0.1%
	Belc Co., Ltd.	74,600		3,943,628	0.1%
#	Bourbon Corp.	44,900		1,155,250	0.0%
	Bull-Dog Sauce Co., Ltd.	1,500		29,384	0.0%
	C'BON COSMETICS Co., Ltd.	6,100		164,851	0.0%
	Cawachi, Ltd.	116,600		2,384,099	0.1%
	Chubu Shiryo Co., Ltd.	180,300		3,164,416	0.1%
	Chuo Gyorui Co., Ltd.	9,800		250,973	0.0%
	Ci:z Holdings Co., Ltd.	101,000		4,798,930	0.1%
	Cocokara fine, Inc.	127,760		7,855,251	0.2%
#	Como Co., Ltd.	2,000		44,513	0.0%
	Cota Co., Ltd.	69,465		939,387	0.0%
	Create SD Holdings Co., Ltd.	191,000		5,485,570	0.1%
	Daikokutenbussan Co., Ltd.	39,900		1,871,072	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
	Delica Foods Holdings Co., Ltd.	29,000	$	414,091	0.0%
	DyDo Group Holdings, Inc.	64,400		3,825,327	0.1%
#	Earth Corp.	94,400		4,803,482	0.1%
	Ebara Foods Industry, Inc.	20,200		425,483	0.0%
	Eco's Co., Ltd.	55,300		841,310	0.0%
	Ensuiko Sugar Refining Co., Ltd.	86,200		204,458	0.0%
	Feed One Co., Ltd.	899,040		1,870,740	0.1%
*	First Baking Co., Ltd.	15,600		163,493	0.0%
	Fuji Oil Holdings, Inc.	169,000		6,075,184	0.2%
	Fujicco Co., Ltd.	153,100		3,919,831	0.1%
	Fujiya Co., Ltd.	39,700		907,765	0.0%
	G-7 Holdings, Inc.	40,800		1,058,620	0.0%
#	Genky DrugStores Co., Ltd.	46,800		1,910,067	0.1%
#	HABA Laboratories, Inc.	17,300		1,823,657	0.1%
	Hagoromo Foods Corp.	39,000		474,190	0.0%
	Halows Co., Ltd.	55,400		1,359,137	0.0%
	Havix Corp.	4,000		28,205	0.0%
	Hayashikane Sangyo Co., Ltd.	29,400		201,227	0.0%
	Heiwado Co., Ltd.	201,900		5,028,544	0.1%
#	Hokkaido Coca-Cola Bottling Co., Ltd.	18,000		652,777	0.0%
	Hokuryo Co., Ltd.	14,900		115,996	0.0%
	Hokuto Corp.	177,500		3,169,554	0.1%
#	Ichimasa Kamaboko Co., Ltd.	31,800		385,101	0.0%
	Imuraya Group Co., Ltd.	51,400		1,649,925	0.0%
	Inageya Co., Ltd.	175,800		2,882,852	0.1%
	Itochu-Shokuhin Co., Ltd.	32,100		1,766,091	0.0%
	Ivy Cosmetics Corp.	1,800		34,158	0.0%
	Iwatsuka Confectionery Co., Ltd.	4,000		184,185	0.0%
	J-Oil Mills, Inc.	76,300		2,739,627	0.1%
#	Japan Meat Co., Ltd.	60,400		1,337,381	0.0%
	Kadoya Sesame Mills, Inc.	14,100		770,863	0.0%
	Kakiyasu Honten Co., Ltd.	62,700		1,585,179	0.0%
	Kameda Seika Co., Ltd.	88,100		4,708,699	0.1%
	Kaneko Seeds Co., Ltd.	38,600		588,369	0.0%
	Kanemi Co., Ltd.	4,800		131,543	0.0%
	Kansai Super Market, Ltd.	70,800		780,514	0.0%
	Kato Sangyo Co., Ltd.	162,900		5,578,362	0.1%
#	Kenko Mayonnaise Co., Ltd.	90,300		3,319,264	0.1%
	Key Coffee, Inc.	131,100		2,608,090	0.1%
#	Kirindo Holdings Co., Ltd.	44,400		1,117,979	0.0%
#	Kitanotatsujin Corp.	457,100		3,272,349	0.1%
#	Kobe Bussan Co., Ltd.	98,300		4,842,164	0.1%
#	Kotobuki Spirits Co., Ltd.	133,900		7,000,768	0.2%
	Kusuri no Aoki Holdings Co., Ltd.	89,600		5,961,855	0.1%
	Kyokuyo Co., Ltd.	66,099		2,143,831	0.1%
	Lacto Japan Co., Ltd.	21,200		1,136,908	0.0%
	Life Corp.	157,800		3,920,020	0.1%
	Mandom Corp.	175,300		5,452,024	0.1%
	Marudai Food Co., Ltd.	765,000		3,478,105	0.1%
	Maruha Nichiro Corp.	307,107		12,367,898	0.3%
#	Maxvalu Nishinihon Co., Ltd.	21,500		350,233	0.0%
#	Maxvalu Tokai Co., Ltd.	49,300		1,090,845	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
	Medical System Network Co., Ltd.	150,000	$	642,179	0.0%
	Megmilk Snow Brand Co., Ltd.	358,200		9,569,160	0.2%
	Meito Sangyo Co., Ltd.	61,300		977,151	0.0%
	Milbon Co., Ltd.	164,752		7,377,791	0.2%
	Ministop Co., Ltd.	120,100		2,422,236	0.1%
	Mitsubishi Shokuhin Co., Ltd.	103,100		2,748,408	0.1%
	Mitsui Sugar Co., Ltd.	112,170		3,476,603	0.1%
	Miyoshi Oil & Fat Co., Ltd.	46,800		568,388	0.0%
	Morinaga Milk Industry Co., Ltd.	262,300		9,802,478	0.2%
	Morozoff, Ltd.	20,100		1,232,554	0.0%
	Nagatanien Holdings Co., Ltd.	158,000		2,143,356	0.1%
#	Nakamuraya Co., Ltd.	27,600		1,197,920	0.0%
	Natori Co., Ltd.	61,500		1,055,890	0.0%
	Nichimo Co., Ltd.	17,000		258,840	0.0%
	Nihon Chouzai Co., Ltd.	49,360		1,308,230	0.0%
	Niitaka Co., Ltd.	2,860		44,913	0.0%
	Nippon Beet Sugar Manufacturing Co., Ltd.	83,000		1,799,085	0.0%
	Nippon Flour Mills Co., Ltd.	352,300		6,124,737	0.2%
	Nippon Suisan Kaisha, Ltd.	2,033,400		10,019,704	0.2%
	Nisshin Oillio Group, Ltd. (The)	185,000		5,553,637	0.1%
	Nissin Sugar Co., Ltd.	112,100		2,135,745	0.1%
	Nitto Fuji Flour Milling Co., Ltd.	6,800		307,160	0.0%
	Noevir Holdings Co., Ltd.	41,900		3,018,321	0.1%
	Oenon Holdings, Inc.	444,900		1,761,109	0.0%
	OIE Sangyo Co., Ltd.	20,900		271,554	0.0%
	Okuwa Co., Ltd.	170,000		1,781,562	0.0%
#	Olympic Group Corp.	67,800		505,436	0.0%
#	OUG Holdings, Inc.	16,900		421,256	0.0%
	Pickles Corp.	20,300		406,335	0.0%
#	Plant Co., Ltd.	24,200		286,580	0.0%
	Prima Meat Packers, Ltd.	1,001,000		5,786,059	0.1%
	Qol Co., Ltd.	153,900		2,873,928	0.1%
#	Retail Partners Co., Ltd.	108,200		1,634,591	0.0%
	Riken Vitamin Co., Ltd.	72,500		2,878,938	0.1%
	Rock Field Co., Ltd.	153,200		2,634,154	0.1%
#	Rokko Butter Co., Ltd.	96,900		2,048,127	0.1%
	S Foods, Inc.	113,562		4,463,246	0.1%
	S&B Foods, Inc.	17,999		1,743,799	0.0%
#	Sagami Rubber Industries Co., Ltd.	59,000		1,266,282	0.0%
	San-A Co., Ltd.	127,200		6,282,587	0.2%
	Sapporo Holdings, Ltd.	449,700		11,277,362	0.3%
	Satudora Holdings Co., Ltd.	1,300		24,802	0.0%
	Shinobu Foods Products Co., Ltd.	1,600		11,374	0.0%
#	Shoei Foods Corp.	83,800		2,941,881	0.1%
	Showa Sangyo Co., Ltd.	149,400		3,902,689	0.1%
	Sogo Medical Co., Ltd.	132,000		2,756,403	0.1%
	Starzen Co., Ltd.	54,500		2,871,665	0.1%
	Takara Holdings, Inc.	592,800		7,837,682	0.2%
	Tobu Store Co., Ltd.	19,000		527,291	0.0%
	Toho Co., Ltd.	53,800		1,289,933	0.0%
	Tohto Suisan Co., Ltd.	18,099		308,041	0.0%
	Torigoe Co., Ltd. (The)	102,200		914,011	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
	Toyo Sugar Refining Co., Ltd.	15,700	$	175,235	0.0%
#	Transaction Co., Ltd.	99,800		919,677	0.0%
	United Super Markets Holdings, Inc.	375,300		4,853,831	0.1%
	Uoriki Co., Ltd.	33,600		456,306	0.0%
	Valor Holdings Co., Ltd.	262,200		5,972,945	0.1%
	Warabeya Nichiyo Holdings Co., Ltd.	102,260		2,345,839	0.1%
	Watahan & Co., Ltd.	46,600		1,392,647	0.0%
#	YA-MAN, Ltd.	212,300		3,550,027	0.1%
	Yaizu Suisankagaku Industry Co., Ltd.	51,000		570,734	0.0%
	Yakuodo Co., Ltd.	78,600		2,829,469	0.1%
	Yamatane Corp.	70,100		1,453,650	0.0%
	Yamaya Corp.	28,200		843,496	0.0%
	Yamazawa Co., Ltd.	6,600		111,158	0.0%
	Yaoko Co., Ltd.	120,700		6,651,734	0.2%
	Yokohama Reito Co., Ltd.	274,200		2,499,171	0.1%
	Yomeishu Seizo Co., Ltd.	49,800		1,112,261	0.0%
	Yuasa Funashoku Co., Ltd.	13,000		411,512	0.0%
	Yutaka Foods Corp.	6,000		109,685	0.0%
Total Consumer Staples				357,990,191	8.4%
Energy — (0.8%)
#	BP Castrol K.K.	53,100		775,553	0.0%
	Cosmo Energy Holdings Co., Ltd.	23,100		808,936	0.0%
	Fuji Kosan Co., Ltd.	33,100		190,606	0.0%
	Fuji Oil Co., Ltd.	365,900		1,370,746	0.0%
	Itochu Enex Co., Ltd.	334,400		3,259,797	0.1%
	Japan Oil Transportation Co., Ltd.	14,500		423,052	0.0%
	Japan Petroleum Exploration Co., Ltd.	248,400		6,475,996	0.2%
	Mitsuuroko Group Holdings Co., Ltd.	193,100		1,543,643	0.0%
#	Modec, Inc.	141,000		3,902,027	0.1%
	Nippon Coke & Engineering Co., Ltd.	1,128,800		1,199,498	0.0%
#	Sala Corp.	329,700		2,072,075	0.1%
	San-Ai Oil Co., Ltd.	379,900		4,678,201	0.1%
	Shinko Plantech Co., Ltd.	278,800		2,810,376	0.1%
	Sinanen Holdings Co., Ltd.	54,200		1,366,944	0.0%
	Toa Oil Co., Ltd.	473,000		964,147	0.0%
	Toyo Kanetsu K.K.	58,000		2,112,137	0.1%
Total Energy				33,953,734	0.8%
Financials — (8.2%)
	77 Bank, Ltd. (The)	496,152		10,775,518	0.3%
	Accretive Co., Ltd.	36,000		90,846	0.0%
	Advance Create Co., Ltd.	42,500		856,633	0.0%
	Aichi Bank, Ltd. (The)	63,200		2,737,097	0.1%
*	Aiful Corp.	419,300		1,305,076	0.0%
	Aizawa Securities Co., Ltd.	226,800		1,595,087	0.0%
#	Akatsuki Corp.	109,000		451,674	0.0%
	Akita Bank, Ltd. (The)	117,340		3,262,591	0.1%
	Anicom Holdings, Inc.	124,800		4,692,642	0.1%
#	Aomori Bank, Ltd. (The)	137,800		4,157,195	0.1%
	Asax Co., Ltd.	9,300		53,105	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Awa Bank, Ltd. (The)	1,318,000	$	8,111,050	0.2%
	Bank of Iwate, Ltd. (The)	112,900		4,340,860	0.1%
	Bank of Kochi, Ltd. (The)	45,700		490,247	0.0%
#	Bank of Nagoya, Ltd. (The)	98,330		3,412,410	0.1%
	Bank of Okinawa, Ltd. (The)	152,460		5,581,003	0.1%
	Bank of Saga, Ltd. (The)	107,900		2,415,439	0.1%
	Bank of the Ryukyus, Ltd.	227,380		3,346,753	0.1%
#	Bank of Toyama, Ltd. (The)	12,100		458,909	0.0%
	Chiba Kogyo Bank, Ltd. (The)	359,500		1,564,445	0.0%
	Chugoku Bank, Ltd. (The)	417,000		4,207,966	0.1%
#	Chukyo Bank, Ltd. (The)	77,300		1,623,812	0.0%
	Daishi Bank, Ltd. (The)	215,000		8,540,202	0.2%
	Daito Bank, Ltd. (The)	87,300		975,524	0.0%
	DSB Co., Ltd.	61,300		327,309	0.0%
	eGuarantee, Inc.	97,400		1,770,177	0.0%
	Ehime Bank, Ltd. (The)	220,200		2,557,585	0.1%
	Eighteenth Bank, Ltd. (The)	1,048,000		2,729,194	0.1%
	Entrust, Inc.	28,900		206,235	0.0%
	FIDEA Holdings Co., Ltd.	1,311,000		2,033,342	0.1%
	Financial Products Group Co., Ltd.	470,000		6,046,775	0.2%
	First Bank of Toyama, Ltd. (The)	243,300		1,048,247	0.0%
#	First Brothers Co., Ltd.	36,600		462,832	0.0%
	Fukui Bank, Ltd. (The)	157,700		3,445,249	0.1%
*	Fukushima Bank, Ltd. (The)	190,600		1,200,994	0.0%
	Fuyo General Lease Co., Ltd.	125,900		8,650,660	0.2%
#	GMO Financial Holdings, Inc.	159,200		1,224,061	0.0%
	Hirose Tusyo, Inc.	17,300		488,135	0.0%
	Hiroshima Bank, Ltd. (The)	402,400		2,668,841	0.1%
	Hokkoku Bank, Ltd. (The)	174,200		6,842,681	0.2%
	Hokuetsu Bank, Ltd. (The)	131,600		2,617,518	0.1%
	Hokuhoku Financial Group, Inc.	709,200		9,416,179	0.2%
	Hyakugo Bank, Ltd. (The)	1,626,009		6,380,576	0.2%
	Hyakujushi Bank, Ltd. (The)	1,613,000		5,292,381	0.1%
	IBJ Leasing Co., Ltd.	197,000		5,204,655	0.1%
	Ichiyoshi Securities Co., Ltd.	271,400		2,934,721	0.1%
	IwaiCosmo Holdings, Inc.	131,200		1,696,705	0.0%
#	J Trust Co., Ltd.	449,100		3,698,368	0.1%
	Jaccs Co., Ltd.	177,800		3,844,249	0.1%
	Jafco Co., Ltd.	228,300		9,254,501	0.2%
*	Japan Asia Investment Co., Ltd.	127,300		388,405	0.0%
#	Japan Investment Adviser Co., Ltd.	76,000		3,712,353	0.1%
	Japan Securities Finance Co., Ltd.	779,900		4,265,083	0.1%
	Jimoto Holdings, Inc.	1,032,000		1,565,683	0.0%
	Juroku Bank, Ltd. (The)	237,000		6,243,707	0.2%
#	kabu.com Securities Co., Ltd.	979,000		3,170,660	0.1%
*	Kansai Mirai Financial Group, Inc.	452,053		3,423,709	0.1%
	Keiyo Bank, Ltd. (The)	1,577,000		6,761,884	0.2%
	Kita-Nippon Bank, Ltd. (The)	50,906		1,226,230	0.0%
	Kiyo Bank, Ltd. (The)	417,290		6,864,681	0.2%
#	Kosei Securities Co., Ltd. (The)	34,599		398,913	0.0%
	Kyokuto Securities Co., Ltd.	163,900		2,144,910	0.1%
	Kyushu Financial Group, Inc.	423,127		2,036,281	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Kyushu Leasing Service Co., Ltd.	10,000	$	69,467	0.0%
*	M&A Capital Partners Co., Ltd.	50,900		4,530,113	0.1%
#	Marusan Securities Co., Ltd.	330,200		3,030,029	0.1%
	Matsui Securities Co., Ltd.	293,600		2,802,522	0.1%
#	Mercuria Investment Co., Ltd.	49,400		474,514	0.0%
#	Michinoku Bank, Ltd. (The)	111,498		1,828,677	0.1%
	Mito Securities Co., Ltd.	424,800		1,532,318	0.0%
	Miyazaki Bank, Ltd. (The)	101,200		3,082,483	0.1%
#	Monex Group, Inc.	1,286,400		7,416,349	0.2%
#	Money Partners Group Co., Ltd.	162,900		569,303	0.0%
	Musashino Bank, Ltd. (The)	198,000		5,870,523	0.1%
	Nagano Bank, Ltd. (The)	54,399		907,468	0.0%
	Nanto Bank, Ltd. (The)	203,300		5,176,848	0.1%
	NEC Capital Solutions, Ltd.	63,800		1,110,207	0.0%
#	Newton Financial Consulting, Inc.	3,100		61,469	0.0%
	Nishi-Nippon Financial Holdings, Inc.	784,700		9,148,937	0.2%
	North Pacific Bank, Ltd.	2,096,400		6,997,231	0.2%
#	OAK Capital Corp.	352,700		643,850	0.0%
	Ogaki Kyoritsu Bank, Ltd. (The)	290,700		7,373,759	0.2%
	Oita Bank, Ltd. (The)	101,489		3,445,126	0.1%
	Okasan Securities Group, Inc.	1,139,000		5,596,792	0.1%
	Ricoh Leasing Co., Ltd.	102,300		3,363,442	0.1%
*	San ju San Financial Group, Inc.	126,510		2,283,813	0.1%
	San-In Godo Bank, Ltd. (The)	984,500		8,788,660	0.2%
	Sawada Holdings Co., Ltd.	146,200		1,362,372	0.0%
	Senshu Ikeda Holdings, Inc.	1,660,500		5,599,626	0.1%
#	Shiga Bank, Ltd. (The)	1,701,000		8,701,354	0.2%
	Shikoku Bank, Ltd. (The)	261,100		3,215,937	0.1%
	Shimane Bank, Ltd. (The)	26,100		296,824	0.0%
#	Shimizu Bank, Ltd. (The)	54,600		1,043,034	0.0%
#	Sparx Group Co., Ltd.	658,500		1,490,428	0.0%
#	Strike Co., Ltd.	43,700		1,691,864	0.0%
	Taiko Bank, Ltd. (The)	35,400		694,552	0.0%
	Tochigi Bank, Ltd. (The)	672,700		2,327,866	0.1%
	Toho Bank, Ltd. (The)	1,315,000		4,753,613	0.1%
	Tohoku Bank, Ltd. (The)	63,200		786,967	0.0%
	Tokai Tokyo Financial Holdings, Inc.	1,465,900		9,340,874	0.2%
#	Tokyo TY Financial Group, Inc.	204,338		4,896,775	0.1%
	Tomato Bank, Ltd.	54,700		752,397	0.0%
	TOMONY Holdings, Inc.	1,009,850		4,323,044	0.1%
	Tottori Bank, Ltd. (The)	63,300		970,887	0.0%
	Towa Bank, Ltd. (The)	250,400		2,566,898	0.1%
	Toyo Securities Co., Ltd.	473,000		1,114,430	0.0%
	Tsukuba Bank, Ltd.	534,200		1,246,059	0.0%
*	Uzabase, Inc.	58,800		1,733,283	0.0%
	Yamagata Bank, Ltd. (The)	204,300		4,338,395	0.1%
	Yamanashi Chuo Bank, Ltd. (The)	1,161,000		4,413,938	0.1%
Total Financials				363,056,070	8.6%
Health Care — (5.0%)
#	Advantage Risk Management Co., Ltd.	44,200		506,427	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Health Care — (Continued)
	As One Corp.	84,568	$	5,864,640	0.1%
	ASKA Pharmaceutical Co., Ltd.	164,300		2,134,384	0.1%
	Biofermin Pharmaceutical Co., Ltd.	23,700		617,957	0.0%
	BML, Inc.	166,200		4,278,022	0.1%
	Carenet, Inc.	14,700		142,849	0.0%
	Charm Care Corp. K.K.	10,000		93,378	0.0%
	CMIC Holdings Co., Ltd.	82,900		1,715,968	0.0%
	Create Medic Co., Ltd.	43,200		542,671	0.0%
	Daiken Medical Co., Ltd.	120,900		833,709	0.0%
	Daito Pharmaceutical Co., Ltd.	82,280		2,552,261	0.1%
	Dvx, Inc.	45,800		576,776	0.0%
	Eiken Chemical Co., Ltd.	220,900		4,692,709	0.1%
#	Elan Corp.	45,300		1,112,795	0.0%
#	EM Systems Co., Ltd.	124,800		1,268,320	0.0%
	EPS Holdings, Inc.	220,700		4,722,125	0.1%
	Falco Holdings Co., Ltd.	55,100		962,490	0.0%
#	FINDEX, Inc.	124,100		910,634	0.0%
	Fuji Pharma Co., Ltd.	104,600		1,794,722	0.1%
	Fukuda Denshi Co., Ltd.	40,400		2,651,280	0.1%
	Fuso Pharmaceutical Industries, Ltd.	44,800		1,177,340	0.0%
	Hogy Medical Co., Ltd.	156,400		6,997,643	0.2%
	I'rom Group Co., Ltd.	44,600		821,290	0.0%
#	Iwaki & Co., Ltd.	193,000		756,639	0.0%
*	Japan Animal Referral Medical Center Co., Ltd.	10,200		291,635	0.0%
	Japan Lifeline Co., Ltd.	81,800		2,005,421	0.1%
	Japan Medical Dynamic Marketing, Inc.	115,600		1,223,862	0.0%
	JCR Pharmaceuticals Co., Ltd.	103,700		6,290,615	0.2%
	Jeol, Ltd.	258,000		2,651,923	0.1%
	JMS Co., Ltd.	111,657		677,751	0.0%
	Kanamic Network Co., Ltd.	32,700		444,834	0.0%
	Kawasumi Laboratories, Inc.	96,180		676,105	0.0%
	Kissei Pharmaceutical Co., Ltd.	182,800		4,952,404	0.1%
*	Kubota Pharmaceutical Holdings Co., Ltd.	2,600		8,181	0.0%
	KYORIN Holdings, Inc.	290,800		6,035,291	0.2%
#	Linical Co., Ltd.	75,300		1,689,411	0.0%
	Mani, Inc.	166,900		7,496,272	0.2%
#*	Medical Data Vision Co., Ltd.	154,300		2,196,852	0.1%
#	Medius Holdings Co., Ltd.	62,100		545,605	0.0%
	Menicon Co., Ltd.	172,800		4,625,234	0.1%
	Miraca Holdings, Inc.	393,200		11,695,842	0.3%
	Mizuho Medy Co., Ltd.	18,000		414,992	0.0%
	Mochida Pharmaceutical Co., Ltd.	91,899		6,689,294	0.2%
#	N Field Co., Ltd.	91,500		1,442,058	0.0%
#	Nagaileben Co., Ltd.	51,200		1,300,660	0.0%
	Nakanishi, Inc.	286,900		6,507,824	0.2%
	ND Software Co., Ltd.	9,600		97,411	0.0%
	Nichi-iko Pharmaceutical Co., Ltd.	326,450		4,811,417	0.1%
	NichiiGakkan Co., Ltd.	271,300		3,075,002	0.1%
	Nihon Kohden Corp.	161,400		4,491,340	0.1%
#	Nikkiso Co., Ltd.	472,400		4,783,048	0.1%
	Nippon Chemiphar Co., Ltd.	17,100		721,520	0.0%
#	Nipro Corp.	810,000		9,345,696	0.2%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Health Care — (Continued)
	Nissui Pharmaceutical Co., Ltd.	80,300	$	1,025,886	0.0%
	Ohki Healthcare Holdings Co., Ltd.	1,200		22,432	0.0%
	Paramount Bed Holdings Co., Ltd.	130,100		5,575,534	0.1%
	Rion Co., Ltd.	61,500		1,301,290	0.0%
#	Sawai Pharmaceutical Co., Ltd.	256,700		11,673,944	0.3%
#	Seed Co., Ltd.	106,200		2,195,252	0.1%
	Seikagaku Corp.	145,700		1,953,834	0.1%
#*	Shin Nippon Biomedical Laboratories, Ltd.	154,200		693,134	0.0%
	Ship Healthcare Holdings, Inc.	315,000		11,870,101	0.3%
	Shofu, Inc.	64,900		847,021	0.0%
	Software Service, Inc.	18,900		1,322,515	0.0%
	Solasto Corp.	344,400		3,839,358	0.1%
	St-Care Holding Corp.	82,800		544,116	0.0%
#	Techno Medica Co., Ltd.	28,800		516,192	0.0%
#	Toho Holdings Co., Ltd.	362,300		8,832,035	0.2%
	Tokai Corp.	149,300		3,213,776	0.1%
	Torii Pharmaceutical Co., Ltd.	102,700		2,494,054	0.1%
	Towa Pharmaceutical Co., Ltd.	62,400		3,338,219	0.1%
#	Tsukui Corp.	403,500		3,639,343	0.1%
	Uchiyama Holdings Co., Ltd.	26,400		127,522	0.0%
	UNIMAT Retirement Community Co., Ltd.	20,000		295,617	0.0%
#	Value HR Co., Ltd.	20,500		382,327	0.0%
	Vital KSK Holdings, Inc.	320,700		3,340,598	0.1%
#	Wakamoto Pharmaceutical Co., Ltd.	112,300		300,744	0.0%
	WIN-Partners Co., Ltd.	114,900		1,556,792	0.0%
	ZERIA Pharmaceutical Co., Ltd.	150,799		3,258,855	0.1%
Total Health Care				219,075,020	5.2%
Industrials — (27.5%)
	A&A Material Corp.	26,000		278,962	0.0%
	Abist Co., Ltd.	20,200		881,405	0.0%
	ACKG, Ltd.	1,900		29,691	0.0%
#	Advan Co., Ltd.	149,500		1,303,451	0.0%
#	Advanex, Inc.	22,099		371,620	0.0%
	Aeon Delight Co., Ltd.	152,700		5,189,051	0.1%
	Aica Kogyo Co., Ltd.	154,400		5,413,068	0.1%
	Aichi Corp.	246,500		1,442,353	0.0%
	Aida Engineering, Ltd.	378,900		3,675,258	0.1%
	Airtech Japan, Ltd.	22,000		166,118	0.0%
	AIT Corp.	66,800		708,803	0.0%
#	Ajis Co., Ltd.	30,300		1,022,476	0.0%
#	Alconix Corp.	156,900		2,252,472	0.1%
	Alinco, Inc.	90,500		872,820	0.0%
	Alps Logistics Co., Ltd.	115,100		925,389	0.0%
	Altech Co., Ltd.	10,900		30,025	0.0%
	Altech Corp.	111,900		2,437,732	0.1%
	Anest Iwata Corp.	229,900		2,474,957	0.1%
#*	Arrk Corp.	478,100		516,844	0.0%
	Asahi Diamond Industrial Co., Ltd.	388,300		2,737,380	0.1%
#	Asahi Kogyosha Co., Ltd.	30,100		953,237	0.0%
	Asanuma Corp.	500,000		1,784,463	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#	Asukanet Co., Ltd.	72,200	$	982,881	0.0%
	Asunaro Aoki Construction Co., Ltd.	138,400		1,169,877	0.0%
	Bando Chemical Industries, Ltd.	249,200		2,745,670	0.1%
	BayCurrent Consulting, Inc.	96,400		3,211,984	0.1%
	Bell System24 Holdings, Inc.	237,700		4,137,832	0.1%
	Benefit One, Inc.	178,500		5,032,463	0.1%
#	Br Holdings Corp.	174,800		757,478	0.0%
	Bunka Shutter Co., Ltd.	405,600		3,437,323	0.1%
#	Canare Electric Co., Ltd.	24,200		483,010	0.0%
#	Career Co., Ltd.	16,400		318,577	0.0%
	Career Design Center Co., Ltd.	35,500		646,001	0.0%
	Central Glass Co., Ltd.	242,800		5,091,569	0.1%
	Central Security Patrols Co., Ltd.	4,600		214,564	0.0%
	Chilled & Frozen Logistics Holdings Co., Ltd.	84,100		1,008,787	0.0%
#	Chiyoda Corp.	705,400		6,116,316	0.2%
	Chiyoda Integre Co., Ltd.	83,500		1,826,973	0.1%
	Chodai Co., Ltd.	3,900		30,644	0.0%
#	Chudenko Corp.	207,700		5,179,655	0.1%
	Chugai Ro Co., Ltd.	45,100		1,140,230	0.0%
	Chuo Warehouse Co., Ltd.	6,500		72,910	0.0%
	CKD Corp.	362,900		5,951,163	0.1%
	CMC Corp.	11,400		280,561	0.0%
	Comany, Inc.	4,700		69,872	0.0%
	Cosel Co., Ltd.	143,000		1,805,411	0.1%
#	Creek & River Co., Ltd.	74,100		696,484	0.0%
	CTI Engineering Co., Ltd.	83,400		1,117,432	0.0%
#	CTS Co., Ltd.	176,000		1,943,297	0.1%
	Dai-Dan Co., Ltd.	111,400		2,303,411	0.1%
	Dai-Ichi Cutter Kogyo K.K.	16,200		381,536	0.0%
#	Daido Kogyo Co., Ltd.	53,000		713,273	0.0%
	Daihatsu Diesel Manufacturing Co., Ltd.	116,200		856,517	0.0%
	Daihen Corp.	684,000		4,111,541	0.1%
	Daiho Corp.	643,000		3,820,930	0.1%
	Daiichi Jitsugyo Co., Ltd.	62,800		1,840,019	0.1%
	Daiichi Kensetsu Corp.	22,000		350,716	0.0%
#	Daiki Axis Co., Ltd.	44,300		503,803	0.0%
*	Daikokuya Holdings Co., Ltd.	138,700		71,296	0.0%
	Daiohs Corp.	9,100		111,009	0.0%
	Daiseki Co., Ltd.	248,963		7,299,248	0.2%
#	Daiseki Eco. Solution Co., Ltd.	45,059		445,502	0.0%
	Daisue Construction Co., Ltd.	53,200		677,066	0.0%
	Daiwa Industries, Ltd.	223,700		2,594,493	0.1%
	Denyo Co., Ltd.	118,700		1,838,132	0.1%
	DMG Mori Co., Ltd.	301,000		4,161,309	0.1%
	DMW Corp.	4,800		105,516	0.0%
	Duskin Co., Ltd.	284,900		7,100,847	0.2%
	Ebara Jitsugyo Co., Ltd.	42,700		895,832	0.0%
#	EF-ON, Inc.	106,920		1,295,131	0.0%
	Eidai Co., Ltd.	152,000		736,332	0.0%
	en-japan, Inc.	86,300		4,342,834	0.1%
#*	EnBio Holdings, Inc.	20,900		230,893	0.0%
	Endo Lighting Corp.	71,400		566,899	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#*	Enshu, Ltd.	301,000	$	376,526	0.0%
#	EPCO Co., Ltd.	29,500		390,989	0.0%
	ERI Holdings Co., Ltd.	1,500		14,649	0.0%
°#	Escrow Agent Japan Co., Ltd.	157,800		627,607	0.0%
#	F&M Co., Ltd.	40,500		372,398	0.0%
#*	FDK Corp.	644,000		1,111,588	0.0%
#	Freund Corp.	77,800		677,531	0.0%
	Fudo Tetra Corp.	1,245,300		2,324,199	0.1%
#	Fuji Corp.	451,500		8,082,284	0.2%
	Fuji Die Co., Ltd.	59,400		456,291	0.0%
	Fuji Furukawa Engineering & Construction Co., Ltd.	6,000		22,726	0.0%
	Fujikura, Ltd.	1,142,900		7,260,033	0.2%
	Fujimak Corp.	6,300		124,355	0.0%
#	Fujisash Co., Ltd.	620,800		660,756	0.0%
	Fujitec Co., Ltd.	441,400		5,432,161	0.1%
	Fukuda Corp.	77,200		4,647,953	0.1%
	Fukushima Industries Corp.	85,200		3,902,193	0.1%
	Fukuvi Chemical Industry Co., Ltd.	10,600		66,672	0.0%
	Fukuyama Transporting Co., Ltd.	167,657		8,558,378	0.2%
	FULLCAST Holdings Co., Ltd.	139,700		3,558,495	0.1%
#	Funai Soken Holdings, Inc.	251,190		5,587,924	0.1%
	Furukawa Co., Ltd.	228,600		3,382,391	0.1%
	Furusato Industries, Ltd.	65,100		1,068,319	0.0%
	Futaba Corp.	242,100		4,234,303	0.1%
	Gecoss Corp.	96,400		926,401	0.0%
#	Giken, Ltd.	103,300		2,398,552	0.1%
	Glory, Ltd.	204,655		5,718,235	0.1%
	GS Yuasa Corp.	2,512,000		11,437,446	0.3%
	Hamakyorex Co., Ltd.	122,600		3,591,689	0.1%
	Hanwa Co., Ltd.	244,200		9,296,403	0.2%
	Hashimoto Sogyo Holdings Co., Ltd.	2,700		42,944	0.0%
	Hazama Ando Corp.	1,196,000		10,870,943	0.3%
#	Helios Techno Holdings Co., Ltd.	72,800		456,323	0.0%
	Hibiya Engineering, Ltd.	144,700		2,877,322	0.1%
	Hirakawa Hewtech Corp.	85,600		1,108,001	0.0%
#	Hirano Tecseed Co., Ltd.	75,900		1,814,521	0.1%
#	Hirata Corp.	59,400		4,250,752	0.1%
	Hisaka Works, Ltd.	157,600		1,490,376	0.0%
	Hitachi Zosen Corp.	1,236,079		5,816,599	0.1%
#	Hito Communications, Inc.	52,400		941,197	0.0%
#	Hoden Seimitsu Kako Kenkyusho Co., Ltd.	31,900		472,441	0.0%
	Hokuetsu Industries Co., Ltd.	148,700		1,444,115	0.0%
#	Hokuriku Electrical Construction Co., Ltd.	73,600		773,755	0.0%
	Hosokawa Micron Corp.	51,800		3,211,338	0.1%
#	Howa Machinery, Ltd.	83,400		709,962	0.0%
	HyAS&Co, Inc.	30,100		132,660	0.0%
	Ichikawa Co., Ltd.	5,000		16,003	0.0%
#	Ichiken Co., Ltd.	33,900		779,031	0.0%
	Ichinen Holdings Co., Ltd.	138,600		1,721,436	0.1%
#	Idec Corp.	209,900		4,904,546	0.1%
	Ihara Science Corp.	47,400		986,746	0.0%
	Iino Kaiun Kaisha, Ltd.	664,400		3,011,690	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Inaba Denki Sangyo Co., Ltd.	169,700	$	6,924,640	0.2%
	Inaba Seisakusho Co., Ltd.	66,900		871,537	0.0%
	Inabata & Co., Ltd.	291,900		4,048,784	0.1%
	Insource Co., Ltd.	60,000		1,245,508	0.0%
	Interworks, Inc.	8,400		72,978	0.0%
	Inui Global Logistics Co., Ltd.	147,680		1,510,296	0.0%
	IR Japan Holdings, Ltd.	27,900		879,242	0.0%
	Iseki & Co., Ltd.	130,800		2,330,830	0.1%
#	Ishii Iron Works Co., Ltd.	11,000		196,412	0.0%
#	Isolite Insulating Products Co., Ltd.	70,000		417,721	0.0%
	Itoki Corp.	263,800		1,534,234	0.0%
#	Iwaki Co., Ltd.	56,400		697,979	0.0%
	Iwasaki Electric Co., Ltd.	37,200		538,212	0.0%
#	Iwatani Corp.	251,100		8,735,102	0.2%
#	JAC Recruitment Co., Ltd.	105,300		2,267,704	0.1%
	Jalux, Inc.	45,800		1,231,713	0.0%
#	Jamco Corp.	70,900		1,611,857	0.0%
#	Japan Asia Group, Ltd.	138,100		583,582	0.0%
	Japan Foundation Engineering Co., Ltd.	165,900		564,072	0.0%
	Japan Pulp & Paper Co., Ltd.	74,700		3,394,969	0.1%
	Japan Steel Works, Ltd. (The)	294,300		7,408,607	0.2%
	Japan Transcity Corp.	247,100		1,202,897	0.0%
	JK Holdings Co., Ltd.	104,640		804,688	0.0%
	Juki Corp.	215,700		2,167,752	0.1%
	Kamei Corp.	148,700		2,049,593	0.1%
	Kanaden Corp.	126,200		1,568,272	0.0%
	Kanagawa Chuo Kotsu Co., Ltd.	42,000		1,412,373	0.0%
	Kanamoto Co., Ltd.	205,100		6,475,821	0.2%
	Kandenko Co., Ltd.	652,100		7,145,234	0.2%
	Kanematsu Corp.	542,325		7,821,976	0.2%
	Katakura Industries Co., Ltd.	169,500		1,987,884	0.1%
#	Kato Works Co., Ltd.	62,800		1,573,358	0.0%
	KAWADA TECHNOLOGIES, Inc.	48,400		3,125,104	0.1%
	Kawagishi Bridge Works Co., Ltd.	11,200		409,392	0.0%
	Kawanishi Warehouse Co., Ltd.	1,700		27,942	0.0%
	Kawasaki Kinkai Kisen Kaisha, Ltd.	9,599		322,715	0.0%
#*	Kawasaki Kisen Kaisha, Ltd.	535,700		9,889,545	0.2%
#	Kawata Manufacturing Co., Ltd.	13,100		198,834	0.0%
#	Keihin Co., Ltd.	24,900		359,557	0.0%
	KFC, Ltd.	5,600		123,626	0.0%
#*	KI Holdings Co., Ltd.	109,000		417,122	0.0%
	Kimura Chemical Plants Co., Ltd.	115,200		428,154	0.0%
	Kimura Unity Co., Ltd.	8,800		89,577	0.0%
	King Jim Co., Ltd.	97,300		961,567	0.0%
#*	Kinki Sharyo Co., Ltd. (The)	25,699		557,968	0.0%
	Kintetsu World Express, Inc.	257,900		5,315,404	0.1%
	Kitagawa Iron Works Co., Ltd.	58,500		1,378,346	0.0%
	Kitano Construction Corp.	305,000		1,265,904	0.0%
	Kito Corp.	148,600		2,850,772	0.1%
	Kitz Corp.	623,900		5,108,065	0.1%
#	Kobayashi Metals, Ltd.	7,900		23,438	0.0%
#*	Kobe Electric Railway Co., Ltd.	26,299		948,542	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#	Kobelco Eco-Solutions Co., Ltd.	21,399	$	363,989	0.0%
	Koike Sanso Kogyo Co., Ltd.	14,500		372,775	0.0%
#	Kokusai Co., Ltd.	51,600		433,533	0.0%
	Kokuyo Co., Ltd.	558,125		9,900,041	0.2%
	KOMAIHALTEC, Inc.	25,700		523,396	0.0%
	Komatsu Wall Industry Co., Ltd.	50,100		924,207	0.0%
	Komori Corp.	388,800		4,517,914	0.1%
	Kondotec, Inc.	132,700		1,223,279	0.0%
	Konoike Transport Co., Ltd.	180,100		2,715,133	0.1%
#	Kosaido Co., Ltd.	231,200		1,058,032	0.0%
	KRS Corp.	42,100		1,050,664	0.0%
	Kumagai Gumi Co., Ltd.	249,100		8,732,570	0.2%
	Kuroda Precision Industries, Ltd.	2,500		43,096	0.0%
	Kyodo Printing Co., Ltd.	52,100		1,348,271	0.0%
	Kyokuto Boeki Kaisha, Ltd.	230,000		895,624	0.0%
	Kyokuto Kaihatsu Kogyo Co., Ltd.	220,600		3,365,834	0.1%
	Kyoritsu Printing Co., Ltd.	195,100		656,500	0.0%
#	Like Co., Ltd.	67,400		1,051,816	0.0%
#	Link And Motivation, Inc.	242,000		2,908,724	0.1%
	Lonseal Corp.	13,900		256,703	0.0%
#	Luckland Co., Ltd.	24,100		593,397	0.0%
	Maeda Corp.	965,300		11,063,631	0.3%
	Maeda Kosen Co., Ltd.	146,300		2,509,439	0.1%
	Maeda Road Construction Co., Ltd.	435,300		8,263,292	0.2%
	Maezawa Industries, Inc.	25,300		102,780	0.0%
#	Maezawa Kasei Industries Co., Ltd.	80,600		903,162	0.0%
	Maezawa Kyuso Industries Co., Ltd.	67,200		1,181,287	0.0%
	Makino Milling Machine Co., Ltd.	757,000		5,872,340	0.1%
	Marubeni Construction Material Lease Co., Ltd.	46,000		100,794	0.0%
	Marufuji Sheet Piling Co., Ltd.	11,800		279,889	0.0%
	Maruka Machinery Co., Ltd.	42,900		741,667	0.0%
#	Marumae Co., Ltd.	41,700		548,112	0.0%
#	Maruwa Unyu Kikan Co., Ltd.	79,900		2,920,609	0.1%
	Maruyama Manufacturing Co., Inc.	27,900		457,111	0.0%
	Maruzen Co., Ltd.	64,000		1,454,611	0.0%
	Maruzen Showa Unyu Co., Ltd.	363,000		1,657,663	0.0%
	Matching Service Japan Co., Ltd.	12,400		862,149	0.0%
	Matsuda Sangyo Co., Ltd.	102,182		1,504,898	0.0%
	Matsui Construction Co., Ltd.	135,300		1,161,541	0.0%
	Max Co., Ltd.	206,800		2,614,828	0.1%
	Meidensha Corp.	1,357,050		4,888,371	0.1%
	Meiji Electric Industries Co., Ltd.	48,200		824,666	0.0%
	Meiji Shipping Co., Ltd.	111,000		393,122	0.0%
	Meisei Industrial Co., Ltd.	272,600		1,979,157	0.1%
	Meitec Corp.	184,300		8,833,751	0.2%
	Meiwa Corp.	173,800		750,635	0.0%
#	Mesco, Inc.	29,800		331,247	0.0%
	METAWATER Co., Ltd.	43,100		1,251,135	0.0%
#	Mie Kotsu Group Holdings, Inc.	342,000		1,667,817	0.0%
#	Mirait Holdings Corp.	396,585		6,133,027	0.2%
	Mitani Corp.	73,800		3,291,458	0.1%
#	Mitani Sangyo Co., Ltd.	77,800		241,993	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#	Mitsubishi Kakoki Kaisha, Ltd.	37,900	$	681,499	0.0%
	Mitsubishi Logisnext Co., Ltd.	214,200		2,445,332	0.1%
#	Mitsubishi Logistics Corp.	300,400		6,477,779	0.2%
	Mitsubishi Pencil Co., Ltd.	248,800		5,157,908	0.1%
	Mitsuboshi Belting, Ltd.	319,000		4,002,986	0.1%
#*	Mitsui E&S Holdings Co., Ltd.	529,100		6,926,672	0.2%
	Mitsui Matsushima Co., Ltd.	72,100		1,075,152	0.0%
*	Mitsui-Soko Holdings Co., Ltd.	807,000		2,508,511	0.1%
#	Mitsumura Printing Co., Ltd.	9,300		185,910	0.0%
	Miyaji Engineering Group, Inc.	40,018		753,284	0.0%
#	Mori-Gumi Co., Ltd.	69,500		257,869	0.0%
	Morita Holdings Corp.	201,300		4,059,027	0.1%
#	Musashi Co., Ltd.	5,000		106,736	0.0%
	NAC Co., Ltd.	77,300		662,994	0.0%
	Nachi-Fujikoshi Corp.	126,200		5,629,674	0.1%
#	Nadex Co., Ltd.	36,300		327,446	0.0%
	Nagase & Co., Ltd.	645,200		10,068,733	0.2%
	Naigai Trans Line, Ltd.	39,800		525,651	0.0%
	Nakabayashi Co., Ltd.	126,600		798,282	0.0%
	Nakakita Seisakusho Co., Ltd.	3,700		116,357	0.0%
	Nakamoto Packs Co., Ltd.	32,000		536,752	0.0%
#*	Nakamura Choukou Co., Ltd.	26,800		564,576	0.0%
	Nakanishi Manufacturing Co., Ltd.	5,700		62,407	0.0%
	Nakano Corp.	101,000		596,927	0.0%
#	Namura Shipbuilding Co., Ltd.	377,028		1,591,119	0.0%
	Narasaki Sangyo Co., Ltd.	127,000		478,529	0.0%
	NDS Co., Ltd.	33,600		1,815,582	0.1%
	Nichias Corp.	819,000		10,241,821	0.3%
#	Nichiban Co., Ltd.	78,100		2,126,069	0.1%
	Nichiden Corp.	92,000		1,771,361	0.1%
	Nichiha Corp.	196,280		7,409,808	0.2%
	Nichireki Co., Ltd.	176,200		1,906,598	0.1%
#	Nihon Dengi Co., Ltd.	29,700		745,035	0.0%
	Nihon Flush Co., Ltd.	68,400		1,596,876	0.0%
	Nikkato Corp.	54,700		671,674	0.0%
	Nikko Co., Ltd.	36,700		824,402	0.0%
	Nikkon Holdings Co., Ltd.	413,800		10,850,768	0.3%
	Nippi, Inc.	11,500		415,586	0.0%
	Nippo Corp.	114,600		2,085,761	0.1%
	Nippon Air Conditioning Services Co., Ltd.	188,100		1,415,436	0.0%
#	Nippon Aqua Co., Ltd.	108,500		333,687	0.0%
	Nippon Concept Corp.	33,900		422,635	0.0%
	Nippon Densetsu Kogyo Co., Ltd.	234,000		5,145,370	0.1%
	Nippon Dry-Chemical Co., Ltd.	900		18,988	0.0%
#	Nippon Filcon Co., Ltd.	80,500		440,342	0.0%
	Nippon Hume Corp.	143,300		1,149,630	0.0%
	Nippon Jogesuido Sekkei Co., Ltd.	40,700		640,960	0.0%
	Nippon Kanzai Co., Ltd.	106,900		2,120,268	0.1%
#	Nippon Koei Co., Ltd.	87,900		2,176,687	0.1%
	Nippon Parking Development Co., Ltd.	1,497,700		2,566,439	0.1%
	Nippon Rietec Co., Ltd.	8,300		119,811	0.0%
	Nippon Road Co., Ltd. (The)	46,600		2,394,008	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#	Nippon Seisen Co., Ltd.	21,800	$	831,957	0.0%
#*	Nippon Sharyo, Ltd.	469,000		1,183,730	0.0%
#	Nippon Sheet Glass Co., Ltd.	632,100		6,062,974	0.2%
	Nippon Steel & Sumikin Bussan Corp.	105,360		5,222,344	0.1%
#	Nippon Thompson Co., Ltd.	443,700		3,473,183	0.1%
	Nippon Tungsten Co., Ltd.	6,699		138,863	0.0%
#	Nishi-Nippon Railroad Co., Ltd.	452,100		12,295,053	0.3%
	Nishimatsu Construction Co., Ltd.	364,900		10,457,660	0.3%
	Nishio Rent All Co., Ltd.	124,300		3,983,029	0.1%
#	Nissei ASB Machine Co., Ltd.	55,500		2,884,189	0.1%
	Nissei Corp.	38,900		463,247	0.0%
	Nissei Plastic Industrial Co., Ltd.	175,800		1,990,751	0.1%
	Nisshinbo Holdings, Inc.	980,380		10,508,331	0.3%
	Nissin Corp.	103,900		2,407,442	0.1%
	Nissin Electric Co., Ltd.	404,400		3,718,512	0.1%
	Nitta Corp.	137,100		5,373,046	0.1%
#	Nitto Boseki Co., Ltd.	203,100		4,853,307	0.1%
	Nitto Kogyo Corp.	190,100		3,798,409	0.1%
	Nitto Kohki Co., Ltd.	76,400		1,786,747	0.1%
#	Nitto Seiko Co., Ltd.	218,000		1,342,861	0.0%
	Nittoc Construction Co., Ltd.	180,600		1,101,203	0.0%
#	Nittoku Engineering Co., Ltd.	104,700		2,732,149	0.1%
#	nms Holdings Co.	69,000		376,013	0.0%
	Noda Corp.	145,800		1,512,854	0.0%
	Nomura Co., Ltd.	279,000		6,152,674	0.2%
	Noritake Co., Ltd.	75,800		4,194,509	0.1%
	Noritz Corp.	196,700		3,201,728	0.1%
	NS Tool Co., Ltd.	48,000		1,082,586	0.0%
	NS United Kaiun Kaisha, Ltd.	70,100		1,358,885	0.0%
	NTN Corp.	683,400		2,797,080	0.1%
	Obara Group, Inc.	83,200		4,737,522	0.1%
	Ochi Holdings Co., Ltd.	6,300		83,484	0.0%
#	Odawara Engineering Co., Ltd.	1,600		29,554	0.0%
	Odelic Co., Ltd.	24,700		986,322	0.0%
#	Ohba Co., Ltd.	88,400		492,399	0.0%
	Ohmoto Gumi Co., Ltd.	4,100		197,269	0.0%
	Oiles Corp.	150,950		2,868,764	0.1%
	Okabe Co., Ltd.	268,900		2,336,526	0.1%
#	Okada Aiyon Corp.	36,200		550,345	0.0%
#	Okamoto Machine Tool Works, Ltd.	25,399		811,011	0.0%
	Okamura Corp.	485,000		7,121,669	0.2%
#	OKK Corp.	54,200		557,237	0.0%
#	OKUMA Corp.	169,800		8,953,356	0.2%
	Okumura Corp.	215,380		7,010,679	0.2%
#	Onoken Co., Ltd.	120,100		2,024,036	0.1%
	Organo Corp.	49,000		1,397,204	0.0%
	Origin Electric Co., Ltd.	36,000		712,513	0.0%
	OSG Corp.	448,300		9,220,917	0.2%
	OSJB Holdings Corp.	955,400		2,409,483	0.1%
	Outsourcing, Inc.	548,200		10,140,910	0.2%
	Oyo Corp.	171,900		2,186,610	0.1%
#	Paraca, Inc.	34,500		818,152	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Parker Corp.	34,000	$	169,955	0.0%
#*	Pasco Corp.	137,000		378,243	0.0%
#	Pasona Group, Inc.	131,800		2,138,513	0.1%
	Pegasus Sewing Machine Manufacturing Co., Ltd.	147,900		1,503,013	0.0%
	Penta-Ocean Construction Co., Ltd.	1,921,500		12,845,466	0.3%
#*	Phil Co., Inc.	19,200		931,879	0.0%
	Pilot Corp.	171,000		9,513,060	0.2%
	Prestige International, Inc.	343,800		4,603,975	0.1%
	Pronexus, Inc.	125,000		1,491,772	0.0%
	PS Mitsubishi Construction Co., Ltd.	216,100		1,218,333	0.0%
#	Punch Industry Co., Ltd.	121,000		1,115,881	0.0%
	Quick Co., Ltd.	71,300		1,115,607	0.0%
	Raito Kogyo Co., Ltd.	349,000		3,642,932	0.1%
	Rasa Corp.	56,800		492,658	0.0%
#*	Refinverse, Inc.	11,000		281,715	0.0%
	Relia, Inc.	207,800		2,963,018	0.1%
	Rheon Automatic Machinery Co., Ltd.	144,300		2,507,153	0.1%
	Rix Corp.	16,300		275,139	0.0%
	Ryobi, Ltd.	183,640		6,037,067	0.2%
#	S LINE Co., Ltd.	22,500		239,412	0.0%
#	S-Pool, Inc.	68,800		872,770	0.0%
	Sakai Heavy Industries, Ltd.	26,800		858,659	0.0%
#	Sakai Moving Service Co., Ltd.	75,400		3,739,705	0.1%
*	Sanix, Inc.	211,300		584,114	0.0%
	Sanki Engineering Co., Ltd.	320,300		3,129,299	0.1%
	Sanko Gosei, Ltd.	113,400		474,384	0.0%
#	Sanko Metal Industrial Co., Ltd.	14,300		445,514	0.0%
	Sankyo Tateyama, Inc.	192,000		2,394,826	0.1%
#	Sanoyas Holdings Corp.	159,500		311,903	0.0%
#	Sansei Technologies, Inc.	77,700		1,193,183	0.0%
#	Sansha Electric Manufacturing Co., Ltd.	70,600		686,989	0.0%
	Sanyo Denki Co., Ltd.	18,200		1,290,434	0.0%
	Sanyo Engineering & Construction, Inc.	78,500		605,725	0.0%
	Sanyo Industries, Ltd.	9,900		193,071	0.0%
	Sanyo Trading Co., Ltd.	81,700		1,565,253	0.0%
	Sata Construction Co., Ltd.	88,499		384,815	0.0%
	Sato Holdings Corp.	174,300		5,206,665	0.1%
	Sato Shoji Corp.	88,200		1,022,079	0.0%
	Sawafuji Electric Co., Ltd.	3,500		69,782	0.0%
	SBS Holdings, Inc.	141,700		1,553,672	0.0%
#	Secom Joshinetsu Co., Ltd.	32,000		1,021,177	0.0%
	Seibu Electric & Machinery Co., Ltd.	5,000		49,038	0.0%
	Seibu Electric Industry Co., Ltd.	24,400		816,588	0.0%
#	Seika Corp.	73,400		1,597,797	0.0%
*	Seikitokyu Kogyo Co., Ltd.	220,300		1,437,493	0.0%
	Sekisui Jushi Corp.	204,200		4,278,270	0.1%
	Senko Group Holdings Co., Ltd.	763,000		6,026,165	0.2%
#	Senshu Electric Co., Ltd.	53,700		1,524,699	0.0%
	Shibusawa Warehouse Co., Ltd. (The)	62,300		970,709	0.0%
	Shibuya Corp.	110,500		3,380,316	0.1%
	Shima Seiki Manufacturing, Ltd.	37,400		1,782,421	0.1%
	Shin Nippon Air Technologies Co., Ltd.	96,380		1,452,041	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#	Shin-Keisei Electric Railway Co., Ltd.	39,999	$	790,471	0.0%
	Shinmaywa Industries, Ltd.	522,700		6,131,324	0.2%
	Shinnihon Corp.	189,000		2,178,046	0.1%
	Shinsho Corp.	35,500		934,046	0.0%
	Shinwa Co., Ltd.	62,200		1,345,013	0.0%
#*	Shoko Co., Ltd.	44,400		385,685	0.0%
	Showa Aircraft Industry Co., Ltd.	48,937		542,230	0.0%
#	SIGMAXYZ, Inc.	69,700		835,277	0.0%
#	Sinfonia Technology Co., Ltd.	836,000		2,963,221	0.1%
	Sinko Industries, Ltd.	136,700		2,440,020	0.1%
	Sintokogio, Ltd.	301,000		2,664,382	0.1%
	Soda Nikka Co., Ltd.	122,600		812,360	0.0%
#	Sodick Co., Ltd.	320,100		2,912,318	0.1%
#	Space Co., Ltd.	94,562		1,241,508	0.0%
#	Srg Takamiya Co., Ltd.	129,300		859,859	0.0%
	Star Micronics Co., Ltd.	214,600		3,318,051	0.1%
#	Subaru Enterprise Co., Ltd.	8,500		498,200	0.0%
	Sugimoto & Co., Ltd.	64,800		1,098,174	0.0%
#	Sumiseki Holdings, Inc.	379,600		505,823	0.0%
	Sumitomo Densetsu Co., Ltd.	120,900		2,162,365	0.1%
	Sumitomo Mitsui Construction Co., Ltd.	1,155,040		8,029,052	0.2%
	Sumitomo Precision Products Co., Ltd.	227,000		748,735	0.0%
	Sumitomo Warehouse Co., Ltd. (The)	822,000		4,980,437	0.1%
	Suzumo Machinery Co., Ltd.	1,400		26,603	0.0%
	SWCC Showa Holdings Co., Ltd.	156,200		1,011,216	0.0%
#	Tacmina Corp.	14,200		202,385	0.0%
	Tadano, Ltd.	519,800		6,374,941	0.2%
	Taihei Dengyo Kaisha, Ltd.	114,100		2,885,409	0.1%
	Taiheiyo Kouhatsu, Inc.	44,200		389,027	0.0%
	Taikisha, Ltd.	165,400		5,013,085	0.1%
	Taisei Oncho Co., Ltd.	11,800		251,736	0.0%
	Takadakiko Co., Ltd.	7,500		209,849	0.0%
	Takagi Seiko Corp.	10,800		296,621	0.0%
	Takamatsu Construction Group Co., Ltd.	95,500		2,863,433	0.1%
	Takamatsu Machinery Co., Ltd.	29,300		321,992	0.0%
	Takano Co., Ltd.	57,200		527,890	0.0%
	Takaoka Toko Co., Ltd.	81,220		1,436,668	0.0%
#	Takara Printing Co., Ltd.	28,155		465,941	0.0%
	Takara Standard Co., Ltd.	259,900		4,327,299	0.1%
	Takasago Thermal Engineering Co., Ltd.	326,000		6,044,607	0.2%
	Takashima & Co., Ltd.	26,600		512,360	0.0%
	Takeei Corp.	161,700		1,749,262	0.1%
	Takeuchi Manufacturing Co., Ltd.	245,900		5,162,762	0.1%
	Takigami Steel Construction Co., Ltd. (The)	5,300		264,528	0.0%
	Takisawa Machine Tool Co., Ltd.	40,300		638,596	0.0%
	Takuma Co., Ltd.	507,200		6,167,941	0.2%
#	Tanabe Engineering Corp.	41,000		377,686	0.0%
	Tanabe Management Consulting Co., Ltd.	5,100		99,055	0.0%
	Tanseisha Co., Ltd.	264,949		3,349,372	0.1%
	Tatsuta Electric Wire and Cable Co., Ltd.	303,900		1,541,364	0.0%
	TECHNO ASSOCIE Co., Ltd.	56,800		679,251	0.0%
	Techno Ryowa, Ltd.	71,390		561,619	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#	Techno Smart Corp.	57,800	$	621,541	0.0%
	TechnoPro Holdings, Inc.	258,600		15,879,307	0.4%
	Teikoku Electric Manufacturing Co., Ltd.	127,200		1,552,459	0.0%
	Teikoku Sen-I Co., Ltd.	134,300		2,804,114	0.1%
	Tekken Corp.	79,000		2,175,174	0.1%
#	Tenox Corp.	22,500		208,876	0.0%
	Teraoka Seisakusho Co., Ltd.	78,800		398,986	0.0%
	Terasaki Electric Co., Ltd.	24,400		294,786	0.0%
	Toa Corp.	110,100		2,828,184	0.1%
	TOA ROAD Corp.	26,600		908,671	0.0%
#	Toba, Inc.	8,900		257,916	0.0%
	Tobishima Corp.	1,481,700		2,590,073	0.1%
	Tocalo Co., Ltd.	440,900		4,598,848	0.1%
	Toda Corp.	731,000		6,348,113	0.2%
	Toenec Corp.	53,900		1,616,467	0.0%
#	Togami Electric Manufacturing Co., Ltd.	17,800		306,953	0.0%
	TOKAI Holdings Corp.	635,700		6,136,767	0.2%
	Tokai Lease Co., Ltd.	19,300		360,872	0.0%
	Tokyo Energy & Systems, Inc.	174,000		1,995,542	0.1%
#	Tokyo Keiki, Inc.	84,199		943,858	0.0%
	Tokyo Sangyo Co., Ltd.	125,800		698,354	0.0%
	Tokyu Construction Co., Ltd.	567,400		5,504,660	0.1%
	Toli Corp.	320,900		959,939	0.0%
	Tomoe Corp.	176,000		729,221	0.0%
#	Tomoe Engineering Co., Ltd.	50,700		1,051,596	0.0%
	Tonami Holdings Co., Ltd.	39,700		2,357,454	0.1%
	Toppan Forms Co., Ltd.	322,800		3,263,599	0.1%
	Torishima Pump Manufacturing Co., Ltd.	131,900		1,234,316	0.0%
	Toshiba Machine Co., Ltd.	775,000		3,689,808	0.1%
	Toshiba Plant Systems & Services Corp.	291,850		6,668,516	0.2%
#	Tosho Printing Co., Ltd.	161,299		1,440,802	0.0%
	Totech Corp.	49,000		1,153,275	0.0%
	Totetsu Kogyo Co., Ltd.	166,300		5,292,757	0.1%
	Totoku Electric Co., Ltd.	18,100		422,363	0.0%
	Toyo Construction Co., Ltd.	544,300		2,412,988	0.1%
#	Toyo Denki Seizo K.K.	53,000		893,725	0.0%
#*	Toyo Engineering Corp.	228,778		1,565,209	0.0%
	Toyo Logistics Co., Ltd.	69,600		224,341	0.0%
	Toyo Machinery & Metal Co., Ltd.	111,100		675,345	0.0%
	Toyo Tanso Co., Ltd.	83,300		2,434,837	0.1%
#	Toyo Wharf & Warehouse Co., Ltd.	41,300		636,065	0.0%
	Trancom Co., Ltd.	52,600		3,612,191	0.1%
	Trinity Industrial Corp.	36,000		248,716	0.0%
#	Trusco Nakayama Corp.	335,300		8,365,981	0.2%
#	Trust Tech, Inc.	66,600		2,336,844	0.1%
	Tsubaki Nakashima Co., Ltd.	288,300		6,784,552	0.2%
	Tsubakimoto Chain Co.	887,700		7,040,406	0.2%
	Tsubakimoto Kogyo Co., Ltd.	28,400		985,561	0.0%
#*	Tsudakoma Corp.	31,998		506,080	0.0%
#	Tsugami Corp.	375,000		3,315,035	0.1%
	Tsukishima Kikai Co., Ltd.	197,600		2,813,732	0.1%
	Tsurumi Manufacturing Co., Ltd.	124,000		2,083,848	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	TTK Co., Ltd.	81,000	$	584,400	0.0%
	Uchida Yoko Co., Ltd.	59,400		2,062,946	0.1%
	Ueki Corp.	34,800		833,222	0.0%
#	Union Tool Co.	56,400		1,760,248	0.1%
	Ushio, Inc.	757,100		9,614,939	0.2%
*	UT Group Co., Ltd.	175,800		6,566,018	0.2%
	Utoc Corp.	102,200		474,766	0.0%
	Wakachiku Construction Co., Ltd.	105,200		1,558,354	0.0%
	Wakita & Co., Ltd.	279,500		2,929,779	0.1%
	WDB Holdings Co., Ltd.	61,200		1,837,827	0.1%
	Weathernews, Inc.	41,500		1,259,191	0.0%
#	Will Group, Inc.	94,900		910,322	0.0%
	World Holdings Co., Ltd.	52,000		1,578,548	0.0%
	Yahagi Construction Co., Ltd.	180,500		1,441,056	0.0%
	YAMABIKO Corp.	250,928		3,005,037	0.1%
	YAMADA Consulting Group Co., Ltd.	69,700		2,003,214	0.1%
#	Yamashin-Filter Corp.	263,800		2,560,538	0.1%
	Yamato Corp.	104,900		654,307	0.0%
	Yamaura Corp.	53,300		427,982	0.0%
	Yamazen Corp.	405,500		3,870,681	0.1%
	Yasuda Logistics Corp.	115,000		933,796	0.0%
#	Yokogawa Bridge Holdings Corp.	214,100		5,070,365	0.1%
#	Yondenko Corp.	28,060		677,117	0.0%
	Yuasa Trading Co., Ltd.	113,200		3,604,866	0.1%
	Yuken Kogyo Co., Ltd.	21,900		497,859	0.0%
#	Yumeshin Holdings Co., Ltd.	316,400		3,307,338	0.1%
	Yurtec Corp.	267,200		2,187,584	0.1%
	Zaoh Co., Ltd.	18,100		267,277	0.0%
	Zenitaka Corp. (The)	19,000		937,643	0.0%
	Zuiko Corp.	27,600		809,588	0.0%
Total Industrials				1,211,136,718	28.5%
Information Technology — (13.4%)
	A&D Co., Ltd.	126,200		1,168,654	0.0%
#*	Access Co., Ltd.	224,000		2,059,607	0.1%
	Ad-sol Nissin Corp.	40,500		639,007	0.0%
#	Adtec Plasma Technology Co., Ltd.	37,700		540,020	0.0%
#	Aeria, Inc.	96,200		1,221,408	0.0%
	AGS Corp.	11,600		90,890	0.0%
	Ai Holdings Corp.	261,800		5,667,209	0.1%
	Aichi Tokei Denki Co., Ltd.	19,500		742,198	0.0%
	Aiphone Co., Ltd.	71,900		1,119,647	0.0%
	Akatsuki, Inc.	43,800		1,647,873	0.0%
#*	Allied Telesis Holdings KK	435,100		531,949	0.0%
	Alpha Systems, Inc.	51,060		1,058,589	0.0%
	Amano Corp.	438,200		10,350,980	0.3%
	AOI Electronic Co., Ltd.	31,400		1,014,490	0.0%
#*	Apic Yamada Corp.	71,800		230,352	0.0%
	Argo Graphics, Inc.	58,900		1,900,051	0.1%
#	Arisawa Manufacturing Co., Ltd.	200,900		2,025,493	0.1%
	ArtSpark Holdings, Inc.	47,300		617,932	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
	Asahi Net, Inc.	117,800	$	554,751	0.0%
#	Ateam, Inc.	92,700		1,973,514	0.1%
#*	Atrae, Inc.	40,100		868,682	0.0%
#	Aval Data Corp.	24,200		440,582	0.0%
#	Avant Corp.	20,600		178,953	0.0%
	Axell Corp.	44,900		329,914	0.0%
	Azia Co., Ltd.	14,300		194,475	0.0%
#*	Bengo4.com, Inc.	49,000		1,165,692	0.0%
	Billing System Corp.	5,300		282,608	0.0%
#*	BrainPad, Inc.	33,400		1,216,637	0.0%
#	Broadband Tower, Inc.	292,600		445,514	0.0%
	Broadleaf Co., Ltd.	647,100		3,909,935	0.1%
	Business Brain Showa-Ota, Inc.	5,000		103,240	0.0%
	CAC Holdings Corp.	90,900		889,439	0.0%
	Canon Electronics, Inc.	135,400		2,725,252	0.1%
	Capital Asset Planning, Inc.	6,200		353,723	0.0%
	CareerIndex, Inc.	22,200		650,186	0.0%
#*	CCS, Inc.	10,800		423,357	0.0%
	CDS Co., Ltd.	11,100		132,177	0.0%
#*	Change, Inc.	5,800		197,416	0.0%
	Chino Corp.	46,400		711,115	0.0%
	Citizen Watch Co., Ltd.	1,554,400		10,192,677	0.3%
	CMK Corp.	373,100		2,372,635	0.1%
#	COLOPL, Inc.	373,700		2,527,452	0.1%
	Computer Engineering & Consulting, Ltd.	85,500		3,147,802	0.1%
	Computer Institute of Japan, Ltd.	109,800		677,783	0.0%
#	Comture Corp.	74,400		1,835,226	0.1%
	CONEXIO Corp.	113,000		1,963,018	0.1%
#	Core Corp.	41,400		507,783	0.0%
#	Cresco, Ltd.	38,400		1,126,542	0.0%
	Cube System, Inc.	48,400		407,563	0.0%
#*	Cyberstep, Inc.	27,000		494,201	0.0%
	Cybozu, Inc.	151,500		735,716	0.0%
	Dai-ichi Seiko Co., Ltd.	61,100		987,470	0.0%
#	Daiko Denshi Tsushin, Ltd.	40,000		237,037	0.0%
	Daishinku Corp.	47,299		555,541	0.0%
#	Daitron Co., Ltd.	60,600		1,192,060	0.0%
	Daiwabo Holdings Co., Ltd.	121,000		6,431,613	0.2%
	Denki Kogyo Co., Ltd.	76,700		2,464,923	0.1%
#	Densan System Co., Ltd.	38,600		733,621	0.0%
#	Designone Japan, Inc.	44,700		517,540	0.0%
#	Dexerials Corp.	420,700		4,188,219	0.1%
#	Digital Arts, Inc.	82,000		4,431,591	0.1%
#	Digital Information Technologies Corp.	60,000		592,220	0.0%
	Dip Corp.	223,700		5,737,963	0.1%
	Double Standard, Inc.	14,000		372,342	0.0%
*	Drecom Co., Ltd.	95,800		899,490	0.0%
	DTS Corp.	145,700		5,405,249	0.1%
#	E-Guardian, Inc.	70,400		1,826,868	0.1%
	Eizo Corp.	115,600		5,014,770	0.1%
	Elecom Co., Ltd.	115,500		2,697,299	0.1%
	Elematec Corp.	60,471		1,432,196	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
*	Enigmo, Inc.	80,800	$	1,290,867	0.0%
	Enomoto Co., Ltd.	27,700		326,066	0.0%
#	Enplas Corp.	71,100		1,978,432	0.1%
	ESPEC Corp.	138,500		2,708,813	0.1%
	Excel Co., Ltd.	44,000		1,076,519	0.0%
	F@N Communications, Inc.	331,900		2,238,165	0.1%
#	Faith, Inc.	51,610		670,039	0.0%
#	Fenwal Controls of Japan, Ltd.	20,600		302,219	0.0%
#	Ferrotec Holdings Corp.	276,800		4,253,819	0.1%
#*	FFRI, Inc.	28,000		765,691	0.0%
*	FIRSTLOGIC, Inc.	22,500		138,868	0.0%
#	Fixstars Corp.	147,200		1,937,316	0.1%
#*	Flight Holdings, Inc.	60,400		784,469	0.0%
	Forval Corp.	52,300		416,514	0.0%
#	FTGroup Co., Ltd.	74,000		885,880	0.0%
	Fuji Soft, Inc.	156,200		6,584,060	0.2%
	Fujitsu Frontech, Ltd.	77,900		1,056,923	0.0%
	Fukui Computer Holdings, Inc.	50,100		825,515	0.0%
#*	Full Speed, Inc.	45,200		382,291	0.0%
	Furuno Electric Co., Ltd.	174,700		1,371,128	0.0%
	Future Corp.	167,100		2,050,571	0.1%
	G Three Holdings Corp.	12,600		14,183	0.0%
#	Geomatec Co., Ltd.	29,900		226,747	0.0%
#	GL Sciences, Inc.	41,700		528,236	0.0%
#	GMO Cloud K.K.	26,700		767,715	0.0%
	GMO internet, Inc.	54,600		1,295,376	0.0%
#*	Gree, Inc.	847,800		4,534,313	0.1%
*	Gumi, Inc.	47,600		312,367	0.0%
#*	Gunosy, Inc.	99,800		1,283,550	0.0%
#	Gurunavi, Inc.	209,700		1,716,809	0.1%
	Hagiwara Electric Holdings Co., Ltd.	42,200		1,172,827	0.0%
	Hakuto Co., Ltd.	97,100		1,442,045	0.0%
#	Hearts United Group Co., Ltd.	109,300		1,547,170	0.0%
#	Hibino Corp.	27,500		356,398	0.0%
	Hioki EE Corp.	65,100		2,728,987	0.1%
	Hochiki Corp.	129,700		2,587,845	0.1%
#	Hokuriku Electric Industry Co., Ltd.	48,200		537,316	0.0%
#	Honda Tsushin Kogyo Co., Ltd.	110,700		887,463	0.0%
	Hosiden Corp.	400,600		3,357,768	0.1%
#*	Hotto Link, Inc.	54,000		514,477	0.0%
	I-Net Corp.	74,090		1,185,404	0.0%
#	I-O Data Device, Inc.	47,600		514,859	0.0%
	Ibiden Co., Ltd.	733,378		11,718,359	0.3%
	Icom, Inc.	74,500		1,818,059	0.1%
#	Ikegami Tsushinki Co., Ltd.	395,000		526,992	0.0%
	Ines Corp.	170,000		1,626,127	0.0%
	Infocom Corp.	87,300		2,391,678	0.1%
	Infomart Corp.	647,100		8,579,646	0.2%
	Information Development Co.	42,700		528,064	0.0%
	Information Services International-Dentsu, Ltd.	80,300		2,415,129	0.1%
	Innotech Corp.	111,100		1,420,392	0.0%
#	Intelligent Wave, Inc.	68,500		454,932	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
#	Inter Action Corp.	64,900	$	873,331	0.0%
	Internet Initiative Japan, Inc.	200,400		4,022,567	0.1%
	Iriso Electronics Co., Ltd.	133,500		8,053,515	0.2%
	ISB Corp.	18,100		308,276	0.0%
#*	Ishii Hyoki Co., Ltd.	31,000		249,886	0.0%
#	Istyle, Inc.	316,200		3,469,703	0.1%
#*	ITbook Co., Ltd.	98,700		563,148	0.0%
	ITmedia, Inc.	20,400		110,055	0.0%
*	Itokuro, Inc.	24,600		1,564,666	0.0%
	Iwatsu Electric Co., Ltd.	66,600		491,890	0.0%
	Japan Aviation Electronics Industry, Ltd.	334,000		5,253,656	0.1%
	Japan Cash Machine Co., Ltd.	141,800		1,583,249	0.0%
#*	Japan Display, Inc.	4,295,200		5,577,568	0.1%
#	Japan Electronic Materials Corp.	36,400		235,772	0.0%
#	Japan Material Co., Ltd.	417,700		6,444,837	0.2%
#	Jastec Co., Ltd.	86,100		913,044	0.0%
#	JBCC Holdings, Inc.	102,600		1,089,106	0.0%
*	JIG-SAW, Inc.	26,300		763,280	0.0%
#	Justsystems Corp.	231,700		4,757,712	0.1%
	Kaga Electronics Co., Ltd.	120,300		2,849,802	0.1%
#	Kamakura Shinsho, Ltd.	26,100		905,533	0.0%
	Kanematsu Electronics, Ltd.	82,100		3,004,983	0.1%
	KEL Corp.	27,900		294,127	0.0%
#	KLab, Inc.	251,500		3,332,824	0.1%
	Koa Corp.	195,900		4,905,243	0.1%
#	Kozo Keikaku Engineering, Inc.	19,600		383,371	0.0%
#	Kyoden Co., Ltd.	125,500		607,055	0.0%
	Kyosan Electric Manufacturing Co., Ltd.	309,100		1,910,850	0.1%
	Kyowa Electronics Instruments Co., Ltd.	144,400		546,954	0.0%
	LAC Co., Ltd.	116,300		1,799,322	0.1%
	Lasertec Corp.	268,400		7,520,456	0.2%
#	m-up, Inc.	41,200		641,773	0.0%
	Macnica Fuji Electronics Holdings, Inc.	322,950		5,414,979	0.1%
	Mamezou Holdings Co., Ltd.	115,200		1,004,601	0.0%
	MarkLines Co., Ltd.	77,500		1,738,107	0.1%
	Marubun Corp.	110,700		828,827	0.0%
#	Maruwa Co., Ltd.	62,500		4,995,807	0.1%
#	Marvelous, Inc.	227,700		1,873,904	0.1%
	Maxell Holdings, Ltd.	317,600		5,344,196	0.1%
	MCJ Co., Ltd.	490,200		3,742,615	0.1%
#	Media Do Holdings Co., Ltd.	47,400		1,081,963	0.0%
#	Megachips Corp.	127,400		3,386,904	0.1%
#	Meiko Electronics Co., Ltd.	160,300		3,289,811	0.1%
	Melco Holdings, Inc.	37,500		1,388,858	0.0%
#	Mimaki Engineering Co., Ltd.	119,100		961,834	0.0%
	Mimasu Semiconductor Industry Co., Ltd.	129,981		2,087,679	0.1%
#	Miraial Co., Ltd.	46,600		512,034	0.0%
	Miroku Jyoho Service Co., Ltd.	125,100		3,144,042	0.1%
#	Mitachi Co., Ltd.	17,900		154,268	0.0%
	Mitsubishi Research Institute, Inc.	46,900		2,144,383	0.1%
#	Mitsui High-Tec, Inc.	181,000		2,293,968	0.1%
*	Mobile Create Co., Ltd.	17,400		49,663	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
#	Mobile Factory, Inc.	36,500	$	532,673	0.0%
#*	Morpho, Inc.	30,400		805,697	0.0%
	MTI, Ltd.	199,300		1,112,314	0.0%
#	Mutoh Holdings Co., Ltd.	14,600		313,605	0.0%
#*	Mynet, Inc.	33,400		400,155	0.0%
	Nagano Keiki Co., Ltd.	91,600		1,006,925	0.0%
#	Naigai Tec Corp.	13,100		308,278	0.0%
	Nakayo, Inc.	78,000		1,288,633	0.0%
	NEC Networks & System Integration Corp.	161,800		3,636,599	0.1%
	NEOJAPAN, Inc.	4,500		71,330	0.0%
	NET One Systems Co., Ltd.	591,600		10,156,419	0.3%
*	New Japan Radio Co., Ltd.	96,000		665,112	0.0%
	Nexyz Group Corp.	48,000		735,066	0.0%
	Nichicon Corp.	337,300		4,239,513	0.1%
#	Nihon Dempa Kogyo Co., Ltd.	106,600		513,158	0.0%
	Nihon Denkei Co., Ltd.	27,700		446,650	0.0%
	Nihon Unisys, Ltd.	342,875		8,598,560	0.2%
	Nippon Ceramic Co., Ltd.	62,200		1,617,740	0.0%
	Nippon Chemi-Con Corp.	103,700		4,031,284	0.1%
#	Nippon Computer Dynamics Co., Ltd.	38,400		404,573	0.0%
#	Nippon Information Development Co., Ltd.	4,200		136,176	0.0%
#	Nippon Kodoshi Corp.	54,900		1,441,272	0.0%
	Nippon Signal Co., Ltd.	366,700		3,550,834	0.1%
	Nippon Systemware Co., Ltd.	50,700		999,963	0.0%
	Nohmi Bosai, Ltd.	143,100		3,056,201	0.1%
#	Noritsu Koki Co., Ltd.	141,300		2,423,691	0.1%
	NS Solutions Corp.	69,900		1,758,104	0.1%
	NSD Co., Ltd.	253,480		5,770,285	0.1%
	Nuflare Technology, Inc.	30,400		1,865,172	0.1%
*	Ohizumi Mfg. Co., Ltd.	35,200		210,502	0.0%
#	Okaya Electric Industries Co., Ltd.	73,000		339,181	0.0%
	Oki Electric Industry Co., Ltd.	600,500		6,711,487	0.2%
#	ONO Sokki Co., Ltd.	58,400		431,238	0.0%
#	Optex Group Co., Ltd.	201,200		5,612,973	0.1%
#*	Optim Corp.	30,900		714,290	0.0%
	Osaki Electric Co., Ltd.	303,000		2,322,584	0.1%
#	Oval Corp.	35,600		99,661	0.0%
#	Paltek Corp.	38,500		247,910	0.0%
	PCA Corp.	2,500		40,333	0.0%
	Poletowin Pitcrew Holdings, Inc.	99,700		2,148,894	0.1%
	Pro-Ship, Inc.	18,600		433,684	0.0%
#	Rakus Co., Ltd.	113,700		1,957,129	0.1%
#	RECOMM Co., Ltd.	462,300		1,202,291	0.0%
	Renesas Easton Co., Ltd.	99,200		499,431	0.0%
	Riken Keiki Co., Ltd.	114,300		2,578,003	0.1%
#	Riso Kagaku Corp.	171,600		3,620,517	0.1%
	Roland DG Corp.	89,000		1,954,836	0.1%
#	Rorze Corp.	74,600		1,439,996	0.0%
	RS Technologies Co., Ltd.	38,200		1,962,438	0.1%
	Ryoden Corp.	104,800		1,707,655	0.1%
	Ryosan Co., Ltd.	188,800		6,908,895	0.2%
	Ryoyo Electro Corp.	147,500		2,382,103	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
#	Saison Information Systems Co., Ltd.	23,800	$	292,187	0.0%
	Sakura Internet, Inc.	155,700		1,145,009	0.0%
	Samco, Inc.	5,900		66,754	0.0%
	Sanken Electric Co., Ltd.	876,000		4,633,922	0.1%
	Sanshin Electronics Co., Ltd.	151,900		2,635,518	0.1%
#	Satori Electric Co., Ltd.	90,680		832,578	0.0%
	Saxa Holdings, Inc.	32,600		716,354	0.0%
#	Scala, Inc.	100,500		993,569	0.0%
	Seikoh Giken Co., Ltd.	13,800		199,594	0.0%
	Shibaura Electronics Co., Ltd.	54,900		2,193,857	0.1%
	Shibaura Mechatronics Corp.	266,000		875,153	0.0%
#*	SHIFT, Inc.	52,000		2,300,605	0.1%
	Shindengen Electric Manufacturing Co., Ltd.	54,300		2,590,230	0.1%
#*	Shinkawa, Ltd.	122,600		943,596	0.0%
	Shinko Electric Industries Co., Ltd.	486,500		4,341,885	0.1%
	Shinko Shoji Co., Ltd.	139,300		2,180,228	0.1%
#	Shirai Electronics Industrial Co., Ltd.	61,600		232,714	0.0%
#	Shizuki Electric Co., Inc.	127,400		824,003	0.0%
#	Showa Shinku Co., Ltd.	23,300		363,249	0.0%
	Showcase TV, Inc.	25,700		297,451	0.0%
	Sigma Koki Co., Ltd.	28,200		509,058	0.0%
#	Siix Corp.	217,700		4,764,169	0.1%
	SK-Electronics Co., Ltd.	56,800		956,318	0.0%
	SMK Corp.	333,000		1,136,342	0.0%
	SMS Co., Ltd.	464,200		8,465,133	0.2%
#	Softbank Technology Corp.	70,300		982,449	0.0%
#	Softbrain Co., Ltd.	125,200		679,075	0.0%
	Softcreate Holdings Corp.	53,400		814,991	0.0%
#	Soliton Systems K.K.	59,400		547,636	0.0%
#	Solxyz Co., Ltd.	46,100		475,849	0.0%
	Soshin Electric Co., Ltd.	58,400		288,152	0.0%
#	Sourcenext Corp.	249,800		1,870,763	0.1%
	SRA Holdings	71,500		1,972,307	0.1%
#	Sumida Corp.	189,849		2,130,753	0.1%
	Sun Corp.	109,500		645,532	0.0%
	Sun-Wa Technos Corp.	69,800		997,402	0.0%
	Suzuden Corp.	28,300		397,099	0.0%
#	Suzuki Co., Ltd.	57,800		478,703	0.0%
*	Synchro Food Co., Ltd.	52,200		408,920	0.0%
	System Information Co., Ltd.	36,700		383,712	0.0%
#	Systemsoft Corp.	278,600		351,731	0.0%
	Systena Corp.	486,900		4,962,653	0.1%
	Tachibana Eletech Co., Ltd.	120,860		2,209,293	0.1%
	Taiyo Yuden Co., Ltd.	232,400		6,477,413	0.2%
	Takachiho Koheki Co., Ltd.	34,600		370,598	0.0%
	TAKEBISHI Corp.	49,600		745,971	0.0%
	Tamura Corp.	552,500		3,494,097	0.1%
#	Tazmo Co., Ltd.	45,100		630,058	0.0%
	TDC Soft, Inc.	50,100		747,075	0.0%
#*	Teac Corp.	819,000		324,986	0.0%
	TechMatrix Corp.	115,400		2,383,160	0.1%
#	Techno Horizon Holdings Co., Ltd.	76,000		406,730	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Information Technology — (Continued)
	Tecnos Japan, Inc.	112,000	$	989,599	0.0%
#	Teikoku Tsushin Kogyo Co., Ltd.	52,500		593,791	0.0%
#	Temairazu, Inc.	11,200		248,425	0.0%
*	Tera Probe, Inc.	10,800		141,991	0.0%
*	TerraSky Co., Ltd.	3,100		97,202	0.0%
	TESEC Corp.	19,400		277,965	0.0%
	TKC Corp.	123,300		4,591,423	0.1%
	Toho System Science Co., Ltd.	9,900		79,259	0.0%
	Tokyo Electron Device, Ltd.	44,500		812,019	0.0%
	Tokyo Seimitsu Co., Ltd.	271,200		8,938,413	0.2%
	Tomen Devices Corp.	14,800		374,123	0.0%
	Topcon Corp.	567,800		9,719,592	0.2%
	Torex Semiconductor, Ltd.	48,800		631,824	0.0%
	Toshiba TEC Corp.	929,000		5,648,274	0.1%
	Toukei Computer Co., Ltd.	22,710		622,311	0.0%
	Towa Corp.	155,200		1,559,671	0.0%
	Toyo Corp.	163,900		1,333,087	0.0%
	Transcosmos, Inc.	4,300		103,060	0.0%
	Tri Chemical Laboratories, Inc.	46,000		1,824,760	0.1%
	Tsuzuki Denki Co., Ltd.	36,300		356,890	0.0%
	UKC Holdings Corp.	95,500		1,942,989	0.1%
#	UMC Electronics Co., Ltd.	43,400		952,376	0.0%
	Uniden Holdings Corp.	406,000		1,147,777	0.0%
	UNIRITA, Inc.	7,300		122,219	0.0%
#	UNITED, Inc.	91,700		2,205,635	0.1%
#	V Technology Co., Ltd.	32,700		6,032,176	0.2%
#*	V-Cube, Inc.	105,600		541,904	0.0%
#	VeriServe Corp.	13,400		434,734	0.0%
#	Vitec Holdings Co., Ltd.	60,300		1,213,037	0.0%
	Voyage Group, Inc.	62,400		668,225	0.0%
	Wacom Co., Ltd.	1,021,700		5,796,010	0.1%
#	YAC Holdings Co., Ltd.	55,400		451,681	0.0%
#	Yamaichi Electronics Co., Ltd.	153,800		2,097,810	0.1%
	Yashima Denki Co., Ltd.	112,800		971,940	0.0%
	Yokowo Co., Ltd.	106,500		1,798,486	0.1%
#*	Zappallas, Inc.	55,900		189,167	0.0%
*	ZIGExN Co., Ltd.	402,500		3,211,126	0.1%
	Zuken, Inc.	102,600		1,665,580	0.0%
Total Information Technology				592,046,464	14.0%
Materials — (10.3%)
	Achilles Corp.	105,000		2,062,117	0.1%
	ADEKA Corp.	603,100		9,657,449	0.2%
	Agro-Kanesho Co., Ltd.	35,700		946,818	0.0%
	Aichi Steel Corp.	80,700		3,103,564	0.1%
	Arakawa Chemical Industries, Ltd.	120,400		1,930,752	0.1%
	Araya Industrial Co., Ltd.	26,800		503,361	0.0%
	Asahi Holdings, Inc.	148,550		2,769,402	0.1%
	Asahi Printing Co., Ltd.	23,300		260,664	0.0%
	Asahi Yukizai Corp.	104,100		2,138,122	0.1%
	Asahipen Corp.	21,000		34,862	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Asia Pile Holdings Corp.	188,100	$	1,213,733	0.0%
	C Uyemura & Co., Ltd.	33,600		2,358,204	0.1%
	Carlit Holdings Co., Ltd.	143,900		1,223,034	0.0%
	Chuetsu Pulp & Paper Co., Ltd.	64,300		989,012	0.0%
#*	Chugai Mining Co., Ltd.	1,012,400		192,331	0.0%
#	Chugoku Marine Paints, Ltd.	458,300		4,564,550	0.1%
	CI Takiron Corp.	330,000		1,854,904	0.1%
	CK-San-Etsu Co., Ltd.	20,000		664,491	0.0%
	Dai Nippon Toryo Co., Ltd.	160,600		2,071,925	0.1%
	Daido Steel Co., Ltd.	189,300		8,739,498	0.2%
#	Daiichi Kigenso Kagaku-Kogyo Co., Ltd.	131,500		1,408,090	0.0%
	Daiken Corp.	98,800		2,275,486	0.1%
#	Daiki Aluminium Industry Co., Ltd.	203,400		1,258,065	0.0%
	Dainichiseika Color & Chemicals Manufacturing Co., Ltd.	85,800		2,668,333	0.1%
#	Daio Paper Corp.	480,200		6,678,822	0.2%
	Daito Chemix Corp.	3,700		18,700	0.0%
#	DKS Co., Ltd.	323,000		2,186,417	0.1%
	Dowa Holdings Co., Ltd.	216,100		6,653,285	0.2%
	Dynapac Co., Ltd.	8,500		125,362	0.0%
	FP Corp.	24,500		1,353,126	0.0%
	Fuji Seal International, Inc.	249,300		8,831,608	0.2%
	Fujikura Kasei Co., Ltd.	169,000		975,834	0.0%
	Fujimi, Inc.	133,600		2,956,220	0.1%
	Fujimori Kogyo Co., Ltd.	112,600		3,705,818	0.1%
#	Fumakilla, Ltd.	56,301		1,041,189	0.0%
#	Fuso Chemical Co., Ltd.	124,600		3,207,759	0.1%
	Geostr Corp.	105,900		598,161	0.0%
	Godo Steel, Ltd.	77,700		1,468,616	0.0%
	Gun-Ei Chemical Industry Co., Ltd.	30,600		967,315	0.0%
	Hakudo Co., Ltd.	35,000		740,008	0.0%
#	Haneda Zenith Holdings Co., Ltd.	225,200		666,392	0.0%
	Harima Chemicals Group, Inc.	97,100		744,259	0.0%
#	Hodogaya Chemical Co., Ltd.	46,100		1,385,571	0.0%
	Hokkan Holdings, Ltd.	278,000		935,546	0.0%
	Hokko Chemical Industry Co., Ltd.	137,900		761,717	0.0%
	Hokuetsu Kishu Paper Co., Ltd.	893,899		4,596,498	0.1%
	Honshu Chemical Industry Co., Ltd.	27,200		272,749	0.0%
#	Ise Chemical Corp.	15,400		425,610	0.0%
#	Ishihara Chemical Co., Ltd.	33,300		674,138	0.0%
*	Ishihara Sangyo Kaisha, Ltd.	246,150		2,313,178	0.1%
	Ishizuka Glass Co., Ltd.	17,800		382,880	0.0%
	Japan Pure Chemical Co., Ltd.	3,200		71,006	0.0%
	JCU Corp.	163,300		3,788,105	0.1%
	JSP Corp.	88,200		2,659,543	0.1%
	Kanto Denka Kogyo Co., Ltd.	312,800		2,600,104	0.1%
	Katakura & Co-op Agri Corp.	21,500		225,733	0.0%
	Kawakin Holdings Co., Ltd.	15,300		63,959	0.0%
#	KeePer Technical Laboratory Co., Ltd.	44,500		485,135	0.0%
	KH Neochem Co., Ltd.	186,600		5,645,922	0.1%
#	Kimoto Co., Ltd.	228,000		592,549	0.0%
	Koatsu Gas Kogyo Co., Ltd.	200,593		1,757,291	0.0%
#	Kogi Corp.	5,499		93,426	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Kohsoku Corp.	71,700	$	871,873	0.0%
	Konishi Co., Ltd.	229,400		3,713,306	0.1%
#	Konoshima Chemical Co., Ltd.	41,300		299,007	0.0%
	Krosaki Harima Corp.	36,300		2,065,105	0.1%
#	Kumiai Chemical Industry Co., Ltd.	654,087		5,125,251	0.1%
	Kunimine Industries Co., Ltd.	25,900		249,179	0.0%
	Kureha Corp.	116,650		8,322,389	0.2%
	Kurimoto, Ltd.	63,300		1,114,526	0.0%
	Kuriyama Holdings Corp.	49,100		858,860	0.0%
#	Kyoei Steel, Ltd.	149,700		2,824,816	0.1%
	Kyowa Leather Cloth Co., Ltd.	83,600		764,556	0.0%
	Lintec Corp.	327,700		9,495,740	0.2%
#	MEC Co., Ltd.	123,800		2,341,843	0.1%
#	Mipox Corp.	58,500		235,199	0.0%
	Mitani Sekisan Co., Ltd.	65,900		1,554,614	0.0%
	Mitsubishi Paper Mills, Ltd.	191,500		1,089,883	0.0%
	Mitsubishi Steel Manufacturing Co., Ltd.	91,700		1,777,659	0.0%
#	Molitec Steel Co., Ltd.	82,600		421,434	0.0%
#	MORESCO Corp.	43,300		683,516	0.0%
	Mory Industries, Inc.	36,900		1,035,791	0.0%
	Muto Seiko Co.	35,700		227,666	0.0%
	Nakayama Steel Works, Ltd.	153,000		925,278	0.0%
	Neturen Co., Ltd.	238,100		2,071,656	0.1%
#*	New Japan Chemical Co., Ltd.	200,600		443,975	0.0%
	Nicca Chemical Co., Ltd.	49,300		527,744	0.0%
	Nichia Steel Works, Ltd.	170,000		532,770	0.0%
#	Nihon Kagaku Sangyo Co., Ltd.	84,800		1,015,580	0.0%
	Nihon Nohyaku Co., Ltd.	361,400		2,320,390	0.1%
	Nihon Parkerizing Co., Ltd.	649,900		9,347,708	0.2%
	Nihon Yamamura Glass Co., Ltd.	597,000		1,012,592	0.0%
	Nippon Carbide Industries Co., Inc.	47,900		841,672	0.0%
	Nippon Chemical Industrial Co., Ltd.	47,700		2,128,334	0.1%
	Nippon Concrete Industries Co., Ltd.	298,500		889,128	0.0%
#	Nippon Denko Co., Ltd.	782,514		2,220,297	0.1%
	Nippon Fine Chemical Co., Ltd.	82,800		951,284	0.0%
	Nippon Kayaku Co., Ltd.	401,700		4,487,475	0.1%
#	Nippon Kinzoku Co., Ltd.	32,800		544,273	0.0%
#	Nippon Koshuha Steel Co., Ltd.	50,899		360,652	0.0%
	Nippon Light Metal Holdings Co., Ltd.	4,181,000		9,380,134	0.2%
	Nippon Paper Industries Co., Ltd.	743,500		11,852,774	0.3%
	Nippon Pillar Packing Co., Ltd.	149,700		1,987,968	0.1%
	Nippon Soda Co., Ltd.	853,000		4,712,552	0.1%
	Nippon Valqua Industries, Ltd.	118,399		3,364,457	0.1%
	Nippon Yakin Kogyo Co., Ltd.	831,300		2,392,450	0.1%
#	Nisshin Steel Co., Ltd.	344,892		4,753,365	0.1%
	Nitta Gelatin, Inc.	90,900		671,223	0.0%
	Nittetsu Mining Co., Ltd.	37,900		1,789,877	0.1%
	Nitto FC Co., Ltd.	121,400		833,901	0.0%
	NOF Corp.	332,500		10,728,127	0.3%
	Nozawa Corp.	53,100		582,302	0.0%
	Oat Agrio Co., Ltd.	19,800		606,095	0.0%
	Okamoto Industries, Inc.	362,000		4,127,169	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Okura Industrial Co., Ltd.	58,800	$	1,380,735	0.0%
	Osaka Organic Chemical Industry, Ltd.	108,700		1,424,192	0.0%
#	Osaka Soda Co., Ltd.	97,799		2,782,432	0.1%
	Osaka Steel Co., Ltd.	88,500		1,686,906	0.0%
#	OSAKA Titanium Technologies Co., Ltd.	146,200		2,179,299	0.1%
#*	Pacific Metals Co., Ltd.	117,999		4,328,808	0.1%
#	Pack Corp. (The)	89,700		2,895,891	0.1%
#	Rasa Industries, Ltd.	52,400		1,369,959	0.0%
	Rengo Co., Ltd.	1,093,800		9,620,173	0.2%
	Riken Technos Corp.	234,300		1,170,065	0.0%
	Sakai Chemical Industry Co., Ltd.	114,000		3,065,024	0.1%
	Sakata INX Corp.	299,000		3,899,758	0.1%
	Sanyo Chemical Industries, Ltd.	82,700		3,578,832	0.1%
	Sanyo Special Steel Co., Ltd.	147,060		3,506,697	0.1%
#	Seiko PMC Corp.	70,600		655,472	0.0%
	Sekisui Plastics Co., Ltd.	173,900		1,738,185	0.0%
	Shikoku Chemicals Corp.	252,900		3,525,964	0.1%
	Shin-Etsu Polymer Co., Ltd.	305,500		2,844,940	0.1%
	Shinagawa Refractories Co., Ltd.	41,700		1,332,437	0.0%
#	Shinko Wire Co., Ltd.	18,400		243,218	0.0%
	SK Kaken Co., Ltd.	8,000		745,421	0.0%
	Soken Chemical & Engineering Co., Ltd.	49,000		886,467	0.0%
#	Stella Chemifa Corp.	78,600		2,697,718	0.1%
	Sumitomo Bakelite Co., Ltd.	952,000		9,163,646	0.2%
	Sumitomo Osaka Cement Co., Ltd.	2,684,000		12,567,412	0.3%
	Sumitomo Seika Chemicals Co., Ltd.	67,500		3,366,194	0.1%
	Sun A Kaken Co., Ltd.	3,900		23,868	0.0%
#	T Hasegawa Co., Ltd.	168,100		3,664,594	0.1%
	T&K Toka Co., Ltd.	137,000		1,474,305	0.0%
	Taisei Lamick Co., Ltd.	41,700		1,172,575	0.0%
	Taiyo Holdings Co., Ltd.	119,300		4,892,165	0.1%
	Takasago International Corp.	96,200		3,078,021	0.1%
	Takemoto Yohki Co., Ltd.	14,400		401,737	0.0%
	Taki Chemical Co., Ltd.	5,300		250,142	0.0%
	Tayca Corp.	119,400		2,414,005	0.1%
	Tenma Corp.	118,500		2,122,722	0.1%
	Titan Kogyo, Ltd.	1,200		26,562	0.0%
	Toagosei Co., Ltd.	733,100		8,459,475	0.2%
#	Toda Kogyo Corp.	30,800		791,181	0.0%
	Toho Acetylene Co., Ltd.	12,700		173,937	0.0%
	Toho Chemical Industry Co., Ltd.	47,000		245,661	0.0%
#	Toho Titanium Co., Ltd.	256,900		2,354,415	0.1%
	Toho Zinc Co., Ltd.	92,799		3,428,156	0.1%
	Tohoku Steel Co., Ltd.	16,300		239,805	0.0%
	Tokushu Tokai Paper Co., Ltd.	63,458		2,492,775	0.1%
	Tokuyama Corp.	372,398		11,927,645	0.3%
	Tokyo Ohka Kogyo Co., Ltd.	256,000		9,863,360	0.2%
	Tokyo Printing Ink Manufacturing Co., Ltd.	10,200		268,664	0.0%
#	Tokyo Rope Manufacturing Co., Ltd.	110,000		1,751,379	0.0%
#	Tokyo Steel Manufacturing Co., Ltd.	845,800		7,503,560	0.2%
	Tokyo Tekko Co., Ltd.	50,200		719,721	0.0%
	Tomoegawa Co., Ltd.	166,000		380,034	0.0%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Tomoku Co., Ltd.	72,700	$	1,335,153	0.0%
	Topy Industries, Ltd.	111,400		3,088,419	0.1%
#	Toyo Gosei Co., Ltd.	34,600		280,311	0.0%
#	Toyo Ink SC Holdings Co., Ltd.	258,200		6,726,977	0.2%
	Toyobo Co., Ltd.	601,100		9,992,129	0.2%
#	TYK Corp.	151,400		521,314	0.0%
#	UACJ Corp.	216,541		4,666,911	0.1%
	Wood One Co., Ltd.	48,500		623,978	0.0%
	Yamato Kogyo Co., Ltd.	289,400		8,730,189	0.2%
	Yodogawa Steel Works, Ltd.	139,500		3,557,791	0.1%
	Yoshicon Co., Ltd.	3,100		45,039	0.0%
#	Yotai Refractories Co., Ltd.	108,800		665,000	0.0%
	Yuki Gosei Kogyo Co., Ltd.	36,200		89,433	0.0%
	Yushiro Chemical Industry Co., Ltd.	71,500		1,092,746	0.0%
Total Materials				455,205,432	10.7%
Real Estate — (1.8%)
#	AD Works Co., Ltd.	1,649,300		596,561	0.0%
	Airport Facilities Co., Ltd.	137,270		763,296	0.0%
#	Anabuki Kosan, Inc.	4,600		131,153	0.0%
#	Aoyama Zaisan Networks Co., Ltd.	63,300		1,291,319	0.0%
#	Apaman Co., Ltd.	77,300		852,141	0.0%
#	Arealink Co., Ltd.	48,600		1,341,962	0.0%
#	B-Lot Co., Ltd.	11,000		149,729	0.0%
	Cosmos Initia Co., Ltd.	82,100		547,131	0.0%
	CRE, Inc.	30,400		592,561	0.0%
	Daibiru Corp.	338,500		3,447,419	0.1%
#	Daikyo, Inc.	215,000		4,698,836	0.1%
#	Dear Life Co., Ltd.	134,500		617,260	0.0%
	Goldcrest Co., Ltd.	126,890		2,061,185	0.1%
	Grandy House Corp.	101,200		448,199	0.0%
	Heiwa Real Estate Co., Ltd.	236,600		4,211,322	0.1%
#	Ichigo, Inc.	1,623,700		7,605,322	0.2%
	Intellex Co., Ltd.	30,000		261,106	0.0%
#*	Japan Asset Marketing Co., Ltd.	1,649,800		1,874,730	0.1%
	Japan Corporate Housing Service, Inc.	10,500		71,287	0.0%
#	Japan Property Management Center Co., Ltd.	87,700		1,032,631	0.0%
	Kabuki-Za Co., Ltd.	24,300		1,274,802	0.0%
	Keihanshin Building Co., Ltd.	266,300		2,196,210	0.1%
#*	LAND Co., Ltd.	1,824,900		212,677	0.0%
	Leopalace21 Corp.	1,716,900		9,393,704	0.2%
#	Mugen Estate Co., Ltd.	80,900		771,185	0.0%
	Nippon Commercial Development Co., Ltd.	81,500		1,348,000	0.0%
	Nisshin Fudosan Co.	211,300		1,314,729	0.0%
#	Prospect Co., Ltd.	2,897,000		1,302,745	0.0%
	Raysum Co., Ltd.	107,100		1,569,989	0.0%
	SAMTY Co., Ltd.	128,500		2,350,850	0.1%
	Sankyo Frontier Co., Ltd.	21,700		675,088	0.0%
#	Sansei Landic Co., Ltd.	37,500		385,053	0.0%
#	Shinoken Group Co., Ltd.	197,200		2,994,223	0.1%
	Star Mica Co., Ltd.	81,300		1,624,930	0.1%

The Japanese Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Real Estate — (Continued)
	Sun Frontier Fudousan Co., Ltd.	226,000	$	2,667,695	0.1%
#	Takara Leben Co., Ltd.	631,000		2,361,080	0.1%
#	Tateru, Inc.	221,800		3,650,878	0.1%
	TOC Co., Ltd.	416,650		3,030,782	0.1%
	Tokyo Rakutenchi Co., Ltd.	21,100		1,096,015	0.0%
#	Tokyo Theatres Co., Inc.	46,799		600,547	0.0%
	Tosei Corp.	244,600		2,587,291	0.1%
#	Unizo Holdings Co., Ltd.	218,800		4,070,356	0.1%
#	Urbanet Corp. Co., Ltd.	123,500		405,205	0.0%
Total Real Estate				80,479,184	1.9%
Telecommunication Services — (0.2%)
#*	Broadmedia Corp.	548,000		326,319	0.0%
#	Freebit Co., Ltd.	79,500		839,661	0.0%
	Okinawa Cellular Telephone Co.	71,900		2,880,552	0.1%
*	Usen-Next Holdings Co., Ltd.	107,400		1,193,297	0.0%
*	Vision, Inc.	58,100		1,946,361	0.1%
	WirelessGate, Inc.	61,200		720,492	0.0%
Total Telecommunication Services				7,906,682	0.2%
Utilities — (1.2%)
#*	Eneres Co., Ltd.	173,300		682,379	0.0%
#	eRex Co., Ltd.	286,800		3,008,788	0.1%
	Hiroshima Gas Co., Ltd.	310,600		1,071,136	0.0%
#	Hokkaido Electric Power Co., Inc.	1,406,600		9,575,209	0.2%
	Hokkaido Gas Co., Ltd.	480,000		1,364,926	0.0%
#*	Hokuriku Electric Power Co.	1,074,100		10,788,252	0.3%
	Hokuriku Gas Co., Ltd.	10,100		275,661	0.0%
	K&O Energy Group, Inc.	98,100		1,654,979	0.0%
	Nippon Gas Co., Ltd.	130,700		7,610,002	0.2%
	Okinawa Electric Power Co., Inc. (The)	286,521		5,977,073	0.2%
	Saibu Gas Co., Ltd.	213,900		5,783,648	0.1%
	Shizuoka Gas Co., Ltd.	355,400		3,257,634	0.1%
	Toell Co., Ltd.	47,900		392,078	0.0%
#	West Holdings Corp.	96,800		646,677	0.0%
Total Utilities				52,088,442	1.2%
TOTAL COMMON STOCKS				4,212,913,683	99.3%
TOTAL INVESTMENT SECURITIES				4,212,913,683
			Value†
SECURITIES LENDING COLLATERAL — (4.4%)
§@	DFA Short Term Investment Fund	16,790,165		194,279,003	4.6%
TOTAL INVESTMENTS — (100.0%) (Cost $3,521,662,310)^^			$	4,407,192,686

THE ASIA PACIFIC SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

June 30, 2018
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (92.2%)
AUSTRALIA — (53.3%)
*	3P Learning, Ltd.	93,233	$	86,066	0.0%
*	88 Energy, Ltd.	604,262		10,245	0.0%
	Accent Group, Ltd.	1,158,640		1,415,227	0.1%
	Adacel Technologies, Ltd.	140,130		175,090	0.0%
	Adairs, Ltd.	179,515		297,788	0.0%
#	Adelaide Brighton, Ltd.	3,023,920		15,531,904	0.8%
*	Aeon Metals, Ltd.	45,332		11,869	0.0%
#	Ainsworth Game Technology, Ltd.	981,684		755,842	0.0%
#*	Alkane Resources, Ltd.	1,811,839		309,593	0.0%
	Alliance Aviation Services, Ltd.	27,285		38,962	0.0%
	ALS, Ltd.	2,533,074		14,121,619	0.7%
	Altium, Ltd.	771,636		12,824,831	0.7%
#	AMA Group, Ltd.	1,445,951		1,120,045	0.1%
#	Amaysim Australia, Ltd.	1,355,718		1,063,151	0.1%
	Ansell, Ltd.	966,611		19,420,096	1.0%
#	AP Eagers, Ltd.	296,589		1,870,688	0.1%
	APN Property Group, Ltd.	26,661		8,838	0.0%
	Apollo Tourism & Leisure, Ltd.	38,381		46,870	0.0%
	Appen, Ltd.	645,977		6,380,548	0.3%
#	ARB Corp., Ltd.	551,292		9,318,868	0.5%
#	Ardent Leisure Group	2,996,851		4,367,827	0.2%
#	ARQ Group, Ltd.	970,727		2,368,992	0.1%
	Asaleo Care, Ltd.	2,714,720		2,798,856	0.1%
	Atlas Arteria, Ltd.	3,229,199		15,362,493	0.8%
*	Atlas Iron, Ltd.	8,964,247		287,132	0.0%
#	AUB Group, Ltd.	300,739		3,021,602	0.2%
*	Aurelia Metals, Ltd.	676,418		286,304	0.0%
	Ausdrill, Ltd.	2,164,032		2,936,729	0.2%
	Austal, Ltd.	1,540,941		2,116,841	0.1%
*	Austin Engineering, Ltd.	95,866		16,319	0.0%
#*	Australian Agricultural Co., Ltd.	2,990,515		2,781,662	0.1%
	Australian Finance Group, Ltd.	513,446		534,872	0.0%
	Australian Pharmaceutical Industries, Ltd.	2,860,486		3,595,394	0.2%
*	Australian Property Systems, Ltd.	1,170,797		5,434,004	0.3%
	Australian Vintage, Ltd.	4,199,886		1,693,469	0.1%
	Auswide Bank, Ltd.	102,961		429,036	0.0%
#	Automotive Holdings Group, Ltd.	1,948,477		4,102,041	0.2%
*	Avanco Resources, Ltd.	2,444,368		298,487	0.0%
	Aveo Group	2,789,628		5,015,354	0.3%
	AVJennings, Ltd.	7,085,798		3,698,054	0.2%
	Axsesstoday, Ltd.	20,251		32,886	0.0%
#	Baby Bunting Group, Ltd.	278,031		299,088	0.0%
	Bank of Queensland, Ltd.	380,336		2,863,687	0.2%
#	Bapcor, Ltd.	1,672,737		8,099,984	0.4%
*	Base Resources, Ltd.	215,873		47,191	0.0%
	Beach Energy, Ltd.	14,720,311		19,053,612	1.0%
#*	Beadell Resources, Ltd.	7,171,491		359,280	0.0%
#	Bega Cheese, Ltd.	1,272,859		6,965,562	0.4%
	Bell Financial Group, Ltd.	67,033		42,363	0.0%
#*	Bellamy's Australia, Ltd.	568,208		6,521,674	0.3%
*	Big Star Energy, Ltd.	13,289		128	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
#	Blackmores, Ltd.	83,730	$	8,808,636	0.5%
*	Blue Energy, Ltd.	97,807		6,577	0.0%
#	Blue Sky Alternative Investments, Ltd.	95,426		120,285	0.0%
#	Bravura Solutions, Ltd.	609,099		1,445,866	0.1%
	Breville Group, Ltd.	831,688		7,145,809	0.4%
#	Brickworks, Ltd.	360,540		4,167,503	0.2%
#*	Buru Energy, Ltd.	678,801		157,921	0.0%
#	BWX, Ltd.	335,452		1,413,993	0.1%
#	Cabcharge Australia, Ltd.	863,423		1,531,716	0.1%
	Capilano Honey, Ltd.	18,636		230,351	0.0%
	Capitol Health, Ltd.	3,025,003		727,097	0.0%
	Capral, Ltd.	58,499		6,494	0.0%
#*	Cardno, Ltd.	1,687,871		1,661,831	0.1%
*	Carnarvon Petroleum, Ltd.	5,872,111		650,871	0.0%
*	Carnegie Clean Energy, Ltd.	1,015,131		16,461	0.0%
#	carsales.com, Ltd.	1,702,940		19,035,268	1.0%
#*	Cash Converters International, Ltd.	3,008,100		688,099	0.0%
#*	Catapult Group International, Ltd.	344,531		311,750	0.0%
	Cedar Woods Properties, Ltd.	370,461		1,579,837	0.1%
	Centuria Capital Group	9,881		10,295	0.0%
	Citadel Group, Ltd. (The)	22,073		107,290	0.0%
#	Class, Ltd.	399,883		709,713	0.0%
*	Clean Seas Seafood, Ltd.	1,404,602		51,985	0.0%
	Cleanaway Waste Management, Ltd.	13,883,132		17,355,323	0.9%
*	Clinuvel Pharmaceuticals, Ltd.	30,557		249,382	0.0%
	Clover Corp., Ltd.	83,898		100,857	0.0%
	Codan, Ltd.	552,241		1,224,341	0.1%
#	Collection House, Ltd.	2,172,576		2,394,427	0.1%
	Collins Foods, Ltd.	725,291		2,987,578	0.2%
#*	Cooper Energy, Ltd.	7,132,290		2,031,578	0.1%
#	Corporate Travel Management, Ltd.	499,074		10,068,969	0.5%
	Costa Group Holdings, Ltd.	1,722,696		10,496,597	0.6%
#	Credit Corp. Group, Ltd.	494,298		6,607,443	0.3%
#*	CSG, Ltd.	1,252,605		213,006	0.0%
	CSR, Ltd.	3,711,681		12,594,002	0.7%
*	CuDeco, Ltd.	387,893		67,459	0.0%
	Data#3, Ltd.	799,710		948,074	0.1%
*	Decmil Group, Ltd.	990,896		711,167	0.0%
*	Devine, Ltd.	25,368		6,410	0.0%
	Dicker Data, Ltd.	186,807		400,480	0.0%
	Domain Holdings Australia, Ltd.	1,530,389		3,644,096	0.2%
#	Domino's Pizza Enterprises, Ltd.	318,182		12,288,368	0.6%
	Donaco International, Ltd.	28,566		3,061	0.0%
*	Doray Minerals, Ltd.	194,559		44,864	0.0%
	Downer EDI, Ltd.	4,034,426		20,198,073	1.1%
	DuluxGroup, Ltd.	3,101,823		17,539,006	0.9%
	DWS, Ltd.	514,109		479,393	0.0%
	Eclipx Group, Ltd.	1,526,923		3,579,883	0.2%
#	Elders, Ltd.	911,619		5,706,994	0.3%
*	EML Payments, Ltd.	53,154		55,406	0.0%
#*	Energy Resources of Australia, Ltd.	1,487,868		434,362	0.0%
#*	Energy World Corp., Ltd.	4,255,918		535,204	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
	EQT Holdings, Ltd.	28,836	$	444,654	0.0%
	ERM Power, Ltd.	1,089,491		1,192,211	0.1%
	Estia Health, Ltd.	1,328,385		3,231,976	0.2%
	Euroz, Ltd.	101,762		93,352	0.0%
	Event Hospitality and Entertainment, Ltd.	539,705		5,349,189	0.3%
	Evolution Mining, Ltd.	559,735		1,464,066	0.1%
	Fairfax Media, Ltd.	19,821,806		10,982,336	0.6%
#*	FAR, Ltd.	9,219,905		714,340	0.0%
#	Finbar Group, Ltd.	197,129		137,695	0.0%
#	Fleetwood Corp., Ltd.	423,260		710,578	0.0%
#	FlexiGroup, Ltd.	1,874,036		3,076,737	0.2%
#	G8 Education, Ltd.	2,747,111		4,730,389	0.3%
#*	Galaxy Resources, Ltd.	2,654,227		5,940,561	0.3%
*	Gascoyne Resources, Ltd.	294,422		108,395	0.0%
#	Gateway Lifestyle	1,805,353		3,114,201	0.2%
#	GBST Holdings, Ltd.	178,479		279,806	0.0%
#	Genworth Mortgage Insurance Australia, Ltd.	1,788,239		3,399,479	0.2%
#	Global Construction Services, Ltd.	251,929		132,366	0.0%
#*	Gold Road Resources, Ltd.	1,490,456		819,110	0.0%
	GR Engineering Services, Ltd.	55,230		56,890	0.0%
	GrainCorp, Ltd. Class A	1,258,179		7,143,386	0.4%
	Grange Resources, Ltd.	1,724,297		223,638	0.0%
#	Greencross, Ltd.	535,179		1,773,616	0.1%
*	Greenland Minerals & Energy, Ltd.	114,047		6,525	0.0%
#	GUD Holdings, Ltd.	956,193		10,013,757	0.5%
	GWA Group, Ltd.	2,071,266		5,202,453	0.3%
#	Hansen Technologies, Ltd.	1,061,558		2,471,916	0.1%
#	Harvey Norman Holdings, Ltd.	1,372,973		3,373,017	0.2%
	Healthscope, Ltd.	5,704,722		9,308,412	0.5%
#	Helloworld Travel, Ltd.	12,955		45,974	0.0%
#*	Highfield Resources, Ltd.	160,730		88,999	0.0%
*	Hills, Ltd.	455,585		77,567	0.0%
*	Horizon Oil, Ltd.	4,073,887		450,755	0.0%
#	HT&E, Ltd.	2,174,438		4,029,916	0.2%
	IDP Education, Ltd.	394,919		3,070,803	0.2%
	Iluka Resources, Ltd.	950,803		7,853,451	0.4%
*	Imdex, Ltd.	2,130,372		1,945,417	0.1%
#	IMF Bentham, Ltd.	1,281,537		2,834,065	0.2%
*	Immutep, Ltd.	1,409,121		32,140	0.0%
#	Independence Group NL	3,313,169		12,594,161	0.7%
#*	Infigen Energy	5,276,965		2,577,069	0.1%
	Infomedia, Ltd.	2,521,963		1,789,506	0.1%
#	Inghams Group, Ltd.	803,576		2,268,219	0.1%
	Integral Diagnostics, Ltd.	14,901		33,218	0.0%
	Integrated Research, Ltd.	624,118		1,436,380	0.1%
#	InvoCare, Ltd.	920,100		9,344,417	0.5%
#	IOOF Holdings, Ltd.	2,368,404		15,704,338	0.8%
#	IPH, Ltd.	875,080		2,877,366	0.2%
#	IRESS, Ltd.	1,175,824		10,480,601	0.5%
#	iSelect, Ltd.	742,596		448,116	0.0%
#	iSentia Group, Ltd.	1,014,066		528,649	0.0%
	IVE Group, Ltd.	343,043		580,825	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
#	Japara Healthcare, Ltd.	1,648,443	$	2,199,250	0.1%
#	JB Hi-Fi, Ltd.	962,791		15,998,292	0.8%
	Jumbo Interactive, Ltd.	136,020		502,954	0.0%
#*	Jupiter Mines, Ltd.	344,616		98,188	0.0%
	K&S Corp., Ltd.	274,800		327,744	0.0%
#*	Karoon Gas Australia, Ltd.	1,703,069		1,421,949	0.1%
*	Kingsgate Consolidated, Ltd.	1,797,365		374,238	0.0%
*	Kingsrose Mining, Ltd.	937,248		46,057	0.0%
#	Kogan.com, Ltd.	193,583		980,770	0.1%
	Lifestyle Communities, Ltd.	56,597		245,164	0.0%
	Link Administration Holdings, Ltd.	2,142,675		11,613,715	0.6%
#	Lovisa Holdings, Ltd.	133,220		1,152,123	0.1%
#*	Lynas Corp., Ltd.	2,451,830		4,231,066	0.2%
	MACA, Ltd.	999,963		885,281	0.0%
*	Macmahon Holdings, Ltd.	7,324,803		1,161,937	0.1%
#	Magellan Financial Group, Ltd.	464,490		7,994,084	0.4%
	MaxiTRANS Industries, Ltd.	915,613		341,851	0.0%
#*	Mayne Pharma Group, Ltd.	6,757,843		4,347,143	0.2%
	McMillan Shakespeare, Ltd.	487,275		5,778,086	0.3%
	McPherson's, Ltd.	645,090		813,676	0.0%
*	Medusa Mining, Ltd.	1,334,671		497,781	0.0%
#*	Mermaid Marine Australia, Ltd.	4,749,942		897,190	0.1%
#*	Mesoblast, Ltd.	809,274		881,887	0.0%
#	Metals X, Ltd.	3,206,431		1,897,840	0.1%
#	Metcash, Ltd.	6,732,322		12,984,843	0.7%
#	Michael Hill International, Ltd.(BD8D249)	1,490,263		1,089,022	0.1%
#	Michael Hill International, Ltd.(BD8D250)	94,305		67,754	0.0%
*	Millennium Minerals, Ltd.	946,708		134,232	0.0%
*	Mincor Resources NL	766,120		215,156	0.0%
*	Mineral Deposits, Ltd.	19,495		24,293	0.0%
	Mineral Resources, Ltd.	1,168,088		13,829,582	0.7%
#	MNF Group, Ltd.	191,475		743,805	0.0%
	Monadelphous Group, Ltd.	813,595		9,049,370	0.5%
#	Monash IVF Group, Ltd.	929,280		742,357	0.0%
#	Money3 Corp., Ltd.	636,502		916,208	0.1%
#	Mortgage Choice, Ltd.	843,889		881,163	0.0%
	Motorcycle Holdings, Ltd.	14,469		35,366	0.0%
	Mount Gibson Iron, Ltd.	4,879,718		1,570,924	0.1%
#	Myer Holdings, Ltd.	5,669,367		1,549,915	0.1%
	MYOB Group, Ltd.	2,757,785		5,892,859	0.3%
	MyState, Ltd.	467,834		1,733,875	0.1%
	Navigator Global Investments, Ltd.	779,880		3,080,250	0.2%
#	Navitas, Ltd.	1,792,167		5,881,622	0.3%
#	Neometals, Ltd.	572,181		127,670	0.0%
#*	NetComm Wireless, Ltd.	216,798		177,345	0.0%
	New Hope Corp., Ltd.	336,348		743,701	0.0%
*	NEXTDC, Ltd.	131,506		733,866	0.0%
	nib holdings, Ltd.	2,972,376		12,590,821	0.7%
	Nick Scali, Ltd.	275,435		1,368,656	0.1%
	Nine Entertainment Co. Holdings, Ltd.	4,317,723		7,917,525	0.4%
	Northern Star Resources, Ltd.	4,306,957		23,316,563	1.2%
#*	NRW Holdings, Ltd.	2,540,504		3,185,066	0.2%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
	Nufarm, Ltd.	1,720,608	$	11,277,198	0.6%
#	OFX Group, Ltd.	1,510,643		1,947,424	0.1%
*	OM Holdings, Ltd.	81,379		74,601	0.0%
*	Onevue Holdings, Ltd.	540,767		319,989	0.0%
	OOH MEDIA, Ltd.	266,500		976,255	0.1%
	oOh!media, Ltd.	612,951		2,243,473	0.1%
	Orora, Ltd.	7,227,410		19,089,143	1.0%
	OZ Minerals, Ltd.	2,239,117		15,613,643	0.8%
	Pacific Current Group, Ltd.	168,408		817,622	0.0%
	Pacific Energy, Ltd.	33,400		14,597	0.0%
	Pacific Smiles Group, Ltd.	256,946		298,331	0.0%
	Pact Group Holdings, Ltd.	894,358		3,487,348	0.2%
*	Panoramic Resources, Ltd.	2,802,164		1,285,811	0.1%
*	Pantoro, Ltd.	407,293		90,305	0.0%
	Paragon Care, Ltd.	605,641		369,631	0.0%
	Peet, Ltd.	1,846,384		1,803,925	0.1%
	Pendal Group, Ltd.	1,209,577		8,849,674	0.5%
#*	Peninsula Energy, Ltd.	268,623		46,656	0.0%
#	Perpetual, Ltd.	356,426		10,971,349	0.6%
#*	Perseus Mining, Ltd.	7,749,285		2,491,790	0.1%
	Pioneer Credit, Ltd.	158,129		369,827	0.0%
#	Platinum Asset Management, Ltd.	1,290,958		5,484,158	0.3%
*	PMP, Ltd.	2,421,092		420,565	0.0%
#*	Praemium, Ltd.	1,096,330		713,401	0.0%
#	Premier Investments, Ltd.	636,665		7,945,525	0.4%
	Primary Health Care, Ltd.	3,326,526		8,577,748	0.5%
#	Prime Media Group, Ltd.	2,115,465		454,499	0.0%
	Pro Medicus, Ltd.	198,593		1,178,925	0.1%
	PWR Holdings, Ltd.	67,229		134,740	0.0%
	QMS Media, Ltd.	322,350		258,582	0.0%
#	Qube Holdings, Ltd.	4,471,985		7,964,479	0.4%
#*	Quintis, Ltd.	2,130,129		155,766	0.0%
#*	Ramelius Resources, Ltd.	3,502,863		1,516,798	0.1%
	RCR Tomlinson, Ltd.	1,214,629		2,676,950	0.1%
*	Reckon, Ltd.	446,073		320,141	0.0%
#*	Red River Resources, Ltd.	322,302		63,117	0.0%
	Reece, Ltd.	985,597		9,226,889	0.5%
#	Regis Healthcare, Ltd.	1,251,488		3,034,849	0.2%
	Regis Resources, Ltd.	3,227,165		12,289,928	0.6%
	Reject Shop, Ltd. (The)	277,760		1,166,146	0.1%
	Reliance Worldwide Corp., Ltd.	3,364,697		13,320,929	0.7%
#	Resolute Mining, Ltd.	7,575,156		7,226,956	0.4%
#	Retail Food Group, Ltd.	1,339,855		535,935	0.0%
	Ridley Corp., Ltd.	1,707,451		1,737,899	0.1%
*	RPMGlobal Holdings, Ltd.	52,065		23,899	0.0%
	Ruralco Holdings, Ltd.	164,672		373,956	0.0%
#	RXP Services, Ltd.	495,127		177,717	0.0%
	Salmat, Ltd.	645,788		314,150	0.0%
	Sandfire Resources NL	1,330,178		9,006,772	0.5%
*	Saracen Mineral Holdings, Ltd.	7,247,386		11,840,047	0.6%
#	SeaLink Travel Group, Ltd.	189,368		620,854	0.0%
	Select Harvests, Ltd.	688,133		3,508,570	0.2%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
*	Senetas Corp., Ltd.	131,335	$	10,665	0.0%
#*	Senex Energy, Ltd.	11,411,198		3,664,680	0.2%
#	Servcorp, Ltd.	348,096		1,070,295	0.1%
	Service Stream, Ltd.	2,120,468		2,368,942	0.1%
	Seven Group Holdings, Ltd.	625,509		8,804,205	0.5%
	Seven West Media, Ltd.	7,785,820		4,832,462	0.3%
#	SG Fleet Group, Ltd.	356,223		973,689	0.1%
	Shine Corporate, Ltd.	15,573		11,186	0.0%
#	Shriro Holdings, Ltd.	148,697		126,481	0.0%
	Sigma Healthcare, Ltd.	8,320,487		4,993,733	0.3%
*	Silex Systems, Ltd.	42,775		6,326	0.0%
#	Silver Chef, Ltd.	138,918		388,589	0.0%
#*	Silver Lake Resources, Ltd.	4,060,760		1,817,632	0.1%
	Sims Metal Management, Ltd.	1,382,214		16,415,850	0.9%
*	Sino Gas & Energy Holdings, Ltd.	5,110,708		850,601	0.0%
	Sirtex Medical, Ltd.	490,548		11,402,418	0.6%
	SmartGroup Corp., Ltd.	598,299		5,166,370	0.3%
	Southern Cross Media Group, Ltd.	3,965,374		3,837,937	0.2%
	Spark Infrastructure Group	9,880,226		16,668,039	0.9%
	SpeedCast International, Ltd.	1,854,862		8,460,819	0.4%
	SRG, Ltd.	6,791		9,165	0.0%
	St Barbara, Ltd.	4,165,437		14,979,516	0.8%
	Steadfast Group, Ltd.	5,017,701		10,427,948	0.5%
*	Strike Energy, Ltd.	1,789,423		191,597	0.0%
*	Sundance Energy Australia, Ltd.	32,443,254		1,820,338	0.1%
	Sunland Group, Ltd.	740,896		995,279	0.1%
#	Super Retail Group, Ltd.	1,288,021		7,715,321	0.4%
#	Superloop, Ltd.	331,524		617,560	0.0%
#*	Syrah Resources, Ltd.	1,570,227		3,357,441	0.2%
#	Tassal Group, Ltd.	1,418,519		4,332,380	0.2%
	Technology One, Ltd.	1,793,577		5,636,854	0.3%
	Thorn Group, Ltd.	744,756		331,099	0.0%
*	Tiger Resources, Ltd.	9,447,997		53,146	0.0%
	Tribune Resources, Ltd.	3,093		15,532	0.0%
#*	Troy Resources, Ltd.	2,360,484		253,968	0.0%
	Villa World, Ltd.	767,485		1,261,535	0.1%
#*	Village Roadshow, Ltd.	836,651		1,429,853	0.1%
#*	Virgin Australia Holdings, Ltd.	11,947,588		1,945,323	0.1%
	Virtus Health, Ltd.	524,539		2,231,886	0.1%
#	Vita Group, Ltd.	454,794		330,303	0.0%
#*	Vocus Group, Ltd.	4,330,071		7,392,640	0.4%
*	Watpac, Ltd.	760,701		396,265	0.0%
#	Webjet, Ltd.	807,424		8,025,188	0.4%
	Webster, Ltd.	92,933		128,422	0.0%
	Western Areas, Ltd.	2,274,784		5,992,675	0.3%
#*	Westgold Resources, Ltd.	1,580,199		2,180,131	0.1%
	Whitehaven Coal, Ltd.	893,117		3,812,474	0.2%
	WiseTech Global, Ltd.	218,848		2,531,899	0.1%
	WorleyParsons, Ltd.	1,170,226		15,115,681	0.8%
	WPP AUNZ, Ltd.	2,476,651		1,849,809	0.1%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
AUSTRALIA — (Continued)
	Xenith IP Group, Ltd.	9,607	$	8,023	0.0%
TOTAL AUSTRALIA				1,107,599,244	57.6%
CANADA — (0.0%)
*	Copper Mountain Mining Corp.	57,376		54,775	0.0%
CHINA — (0.1%)
*	Beijing Gas Blue Sky Holdings, Ltd.	992,000		63,142	0.0%
*	GCL New Energy Holdings, Ltd.	7,472,000		304,099	0.0%
	Strong Petrochemical Holdings, Ltd.	1,418,000		157,312	0.0%
	Yeebo International Holdings, Ltd.	2,436,000		563,100	0.1%
TOTAL CHINA				1,087,653	0.1%
HONG KONG — (24.5%)
	13 Holdings, Ltd. (The)	156,750		13,986	0.0%
	Aeon Credit Service Asia Co., Ltd.	752,000		619,258	0.0%
	Aeon Stores Hong Kong Co., Ltd.	248,000		144,317	0.0%
#	Agritrade Resources, Ltd.	20,935,000		3,969,850	0.2%
	Alco Holdings, Ltd.	1,614,000		269,651	0.0%
	Allan International Holdings	32,000		8,388	0.0%
	Allied Group, Ltd.	661,200		4,127,593	0.2%
	Allied Properties HK, Ltd.	12,277,857		2,637,583	0.1%
	Alltronics Holdings, Ltd.	2,500,600		603,849	0.0%
	APAC Resources, Ltd.	2,270,888		352,413	0.0%
#*	Applied Development Holdings, Ltd.	13,510,000		1,137,340	0.1%
	APT Satellite Holdings, Ltd.	3,008,500		1,234,668	0.1%
	Arts Optical International Hldgs, Ltd.	730,000		196,678	0.0%
	Asia Financial Holdings, Ltd.	2,404,908		1,567,932	0.1%
*	Asia Investment Finance Group, Ltd.	15,652,000		179,379	0.0%
	Asia Pacific Silk Road	2,200,000		42,062	0.0%
	Asia Satellite Telecommunications Holdings, Ltd.	934,500		740,915	0.1%
	Asia Standard Hotel Group, Ltd.	33,851,654		1,998,467	0.1%
#	Asia Standard International Group, Ltd.	13,270,917		3,021,248	0.2%
	Asiasec Properties, Ltd.	398,000		161,479	0.0%
	Associated International Hotels, Ltd.	952,000		2,959,324	0.2%
*	Auto Italia Holdings	1,900,000		19,510	0.0%
	Automated Systems Holdings, Ltd.	404,400		64,807	0.0%
*	BeijingWest Industries International, Ltd.	1,277,600		199,895	0.0%
*	Best Food Holding Co., Ltd.	670,000		116,078	0.0%
	BOC Aviation, Ltd.	145,000		899,801	0.1%
#	BOE Varitronix, Ltd.	3,046,293		1,037,382	0.1%
*	Bonjour Holdings, Ltd.	14,578,600		704,064	0.0%
	Bossini International Holdings, Ltd.	3,699,500		164,882	0.0%
#	Bright Smart Securities & Commodities Group, Ltd.	6,724,000		1,959,812	0.1%
*	Brightoil Petroleum Holdings, Ltd.	10,052,000		720,691	0.0%
*	Brockman Mining, Ltd.	22,810,814		533,098	0.0%
*	Burwill Holdings, Ltd.	35,754,960		1,407,877	0.1%
#	Cafe de Coral Holdings, Ltd.	2,586,000		6,254,991	0.3%
*	Camsing International Holding, Ltd.	2,054,000		1,829,610	0.1%
*	Cash Financial Services Group, Ltd.	2,934,000		52,279	0.0%
*	CCT Land Holdings, Ltd.	18,640,000		23,759	0.0%
#*	CEFC Hong Kong Financial Investment Co., Ltd.	810,000		31,342	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	Ceneric Holdings, Ltd.	920,000	$	32,834	0.0%
	Century City International Holdings, Ltd.	6,723,460		624,558	0.0%
#	CGN Mining Co., Ltd.	4,855,000		274,663	0.0%
*	Champion Technology Holdings, Ltd.	669,346		36,260	0.0%
	Chen Hsong Holdings	1,212,000		308,457	0.0%
	Cheuk Nang Holdings, Ltd.	679,350		387,905	0.0%
	Chevalier International Holdings, Ltd.	820,989		1,244,350	0.1%
*	China Baofeng International, Ltd.	22,000		8,362	0.0%
*	China Baoli Technologies Holdings, Ltd.	4,825,000		51,660	0.0%
*	China Best Group Holding, Ltd.	8,500,000		88,713	0.0%
*	China Chuanglian Education Financial Group, Ltd.	5,416,000		56,368	0.0%
	China Display Optoelectronics Technology Holdings, Ltd.	4,928,000		425,722	0.0%
*	China Energy Development Holdings, Ltd.	53,782,000		534,955	0.0%
	China Flavors & Fragrances Co., Ltd.	1,771,028		553,548	0.0%
*	China Fortune Financial Group, Ltd.	6,570,000		99,815	0.0%
#	China Goldjoy Group, Ltd.	15,188,000		829,099	0.1%
*	China HKBridge Holdings, Ltd.	103,000		16,648	0.0%
#*	China LNG Group, Ltd.	7,534,001		1,080,393	0.1%
*	China Ludao Technology Co., Ltd.	580,000		98,346	0.0%
*	China Medical & Healthcare Group, Ltd.	42,916,800		1,359,978	0.1%
	China Motor Bus Co., Ltd.	60,600		748,705	0.1%
#*	China Shandong Hi-Speed Financial Group, Ltd.	2,406,000		82,539	0.0%
*	China Soft Power Technology Holdings, Ltd.	27,378,402		313,521	0.0%
*	China Solar Energy Holdings, Ltd.	1,669,500		7,182	0.0%
*	China Star Entertainment, Ltd.	1,900,000		67,515	0.0%
#*	China Strategic Holdings, Ltd.	77,781,250		830,664	0.1%
	China Ting Group Holdings, Ltd.	2,565,151		118,858	0.0%
*	China Tonghai International Financial, Ltd.	1,230,000		131,692	0.0%
#	Chinese Estates Holdings, Ltd.	3,081,000		3,998,713	0.2%
*	Chinlink International Holdings, Ltd.	909,800		102,043	0.0%
	Chinney Investments, Ltd.	1,180,000		476,681	0.0%
	Chong Hing Bank, Ltd.	180,000		348,456	0.0%
	Chow Sang Sang Holdings International, Ltd.	2,419,000		4,623,049	0.3%
	CHTC Fong's Industries Co., Ltd.	42,000		8,151	0.0%
	Chuang's China Investments, Ltd.	8,251,407		567,347	0.0%
	Chuang's Consortium International, Ltd.	7,399,043		1,590,845	0.1%
	CITIC Telecom International Holdings, Ltd.	12,575,125		3,295,311	0.2%
#	CK Life Sciences Intl Holdings, Inc.	23,208,000		1,597,597	0.1%
*	CMMB Vision Holdings, Ltd.	9,204,000		160,351	0.0%
	CNQC International Holdings, Ltd.	3,907,500		1,184,333	0.1%
	CNT Group, Ltd.	8,303,264		400,246	0.0%
*	Common Splendor International Health Industry Group, Ltd.	11,440,000		1,109,105	0.1%
*	Continental Holdings, Ltd.	450,000		6,196	0.0%
#	Convenience Retail Asia, Ltd.	142,000		60,591	0.0%
#*	Convoy Global Holdings, Ltd.	38,622,000		616,822	0.0%
*	Cosmopolitan International Holdings, Ltd.	2,120,000		326,282	0.0%
#	Cowell e Holdings, Inc.	3,747,000		809,811	0.1%
*	CP Lotus Corp.	11,880,000		165,636	0.0%
*	Crocodile Garments	2,196,000		220,877	0.0%
	Cross-Harbour Holdings, Ltd. (The)	989,956		1,652,332	0.1%
	CSI Properties, Ltd.	42,546,383		2,480,170	0.1%
*	CST Group, Ltd.	140,296,000		623,872	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
*	Culturecom Holdings, Ltd.	45,000	$	2,232	0.0%
	CW Group Holdings, Ltd.	2,804,500		157,202	0.0%
	Dah Sing Banking Group, Ltd.	3,961,516		8,289,256	0.4%
	Dah Sing Financial Holdings, Ltd.	1,540,944		8,985,785	0.5%
*	Daohe Global Group, Ltd.	467,000		18,171	0.0%
#	Dickson Concepts International, Ltd.	1,436,000		682,775	0.0%
#*	Digital Domain Holdings, Ltd.	17,490,000		270,953	0.0%
*	DTXS Silk Road Investment Holdings Co., Ltd.	42,000		23,118	0.0%
	Dynamic Holdings, Ltd.	70,000		67,465	0.0%
	Eagle Nice International Holdings, Ltd.	2,114,000		1,032,955	0.1%
	EcoGreen International Group, Ltd.	1,782,640		386,131	0.0%
*	eForce Holdings, Ltd.	7,072,000		181,302	0.0%
*	Elegance Optical International Holdings, Ltd.	542,000		127,156	0.0%
	Emperor Capital Group, Ltd.	31,527,000		2,003,939	0.1%
	Emperor Entertainment Hotel, Ltd.	4,825,000		1,044,619	0.1%
	Emperor International Holdings, Ltd.	9,506,753		2,756,422	0.2%
	Emperor Watch & Jewellery, Ltd.	28,650,000		1,748,148	0.1%
#	Enerchina Holdings, Ltd.	6,359,700		367,741	0.0%
*	Energy International Investments Holdings, Ltd.	680,000		21,659	0.0%
*	ENM Holdings, Ltd.	14,680,000		1,881,497	0.1%
#*	Esprit Holdings, Ltd.	15,285,850		4,744,441	0.3%
*	eSun Holdings, Ltd.	4,444,000		706,735	0.0%
*	Eternity Investment, Ltd.	830,000		19,014	0.0%
	Fairwood Holdings, Ltd.	781,100		2,984,332	0.2%
	Far East Consortium International, Ltd.	10,197,463		6,060,691	0.3%
*	Far East Holdings International, Ltd.	1,911,000		140,967	0.0%
#*	FIH Mobile, Ltd.	23,091,000		3,584,079	0.2%
	First Pacific Co., Ltd.	11,026,000		5,307,314	0.3%
*	First Shanghai Investments, Ltd.	6,944,000		529,983	0.0%
	Fountain SET Holdings, Ltd.	6,200,000		923,706	0.1%
	Four Seas Mercantile Holdings, Ltd.	610,000		274,985	0.0%
*	Freeman FinTech Corp., Ltd.	71,680,000		802,115	0.1%
#	Future Bright Holdings, Ltd.	3,288,000		452,145	0.0%
*	Future World Financial Holdings, Ltd.	205,723		3,346	0.0%
*	G-Resources Group, Ltd.	184,149,600		2,086,188	0.1%
	Get Nice Financial Group, Ltd.	2,530,600		333,732	0.0%
#	Get Nice Holdings, Ltd.	51,222,000		1,822,535	0.1%
	Giordano International, Ltd.	11,982,000		7,535,726	0.4%
#*	Global Brands Group Holding, Ltd.	42,738,000		2,551,261	0.1%
	Glorious Sun Enterprises, Ltd.	4,328,000		452,034	0.0%
	Gold Peak Industries Holdings, Ltd.	3,029,642		343,681	0.0%
#*	Gold-Finance Holdings, Ltd.	9,410,000		3,189,593	0.2%
	Golden Resources Development International, Ltd.	3,330,500		190,927	0.0%
#*	Good Resources Holdings, Ltd.	9,720,000		256,847	0.0%
#	Goodbaby International Holdings, Ltd.	4,251,000		2,570,726	0.1%
*	GR Properties, Ltd.	2,018,000		214,453	0.0%
	Great Eagle Holdings, Ltd.	728,248		3,550,838	0.2%
*	Greenheart Group, Ltd.	1,069,400		125,003	0.0%
*	Greentech Technology International, Ltd.	6,240,000		83,453	0.0%
*	Group Sense International, Ltd.	3,810,000		246,829	0.0%
	Guangnan Holdings, Ltd.	2,363,600		267,603	0.0%
#	Guotai Junan International Holdings, Ltd.	25,907,797		5,584,009	0.3%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
#	Haitong International Securities Group, Ltd.	18,231,067	$	8,281,556	0.4%
	Hang Lung Group, Ltd.	91,000		254,798	0.0%
	Hanison Construction Holdings, Ltd.	2,405,649		440,993	0.0%
*	Hao Tian Development Group, Ltd.	19,412,400		666,555	0.0%
	Harbour Centre Development, Ltd.	935,500		1,824,429	0.1%
	High Fashion International, Ltd.	250,000		59,772	0.0%
	HIN Sang Group International Holding Co., Ltd.	74,000		10,572	0.0%
*	HJ Capital International Holdings Co., Ltd.	1,900,000		30,050	0.0%
#	HKBN, Ltd.	4,635,500		7,130,575	0.4%
	HKR International, Ltd.	6,201,536		3,795,886	0.2%
	Hoifu Energy Group, Ltd.	1,884,000		242,536	0.0%
	Hon Kwok Land Investment Co., Ltd.	388,800		216,543	0.0%
#	Hong Kong Aircraft Engineering Co., Ltd.	157,200		1,367,109	0.1%
	Hong Kong Ferry Holdings Co., Ltd.	866,300		968,823	0.1%
#	Hong Kong International Construction Investment Management Group Co., Ltd.	2,762,000		664,871	0.0%
	Hong Kong Shanghai Alliance Holdings, Ltd.	1,248,002		107,439	0.0%
#*	Hong Kong Television Network, Ltd.	4,183,751		1,556,593	0.1%
#	Hongkong & Shanghai Hotels, Ltd. (The)	3,203,845		4,560,295	0.2%
	Hongkong Chinese, Ltd.	5,038,000		847,471	0.1%
#	Honma Gold, Ltd.	150,500		154,321	0.0%
	Hop Hing Group Holdings, Ltd.	13,596,000		300,616	0.0%
	Hopewell Holdings, Ltd.	3,604,500		12,343,329	0.7%
#*	Hsin Chong Group Holdings, Ltd.	10,323,403		86,318	0.0%
#	Huarong International Financial Holdings, Ltd.	732,000		130,520	0.0%
#*	Huarong Investment Stock Corp., Ltd.	1,050,000		59,361	0.0%
*	Huisheng International Holdings, Ltd.	2,408,000		68,922	0.0%
	Hung Hing Printing Group, Ltd.	2,872,000		636,995	0.0%
#	Hutchison Telecommunications Hong Kong Holdings, Ltd.	12,228,000		4,306,949	0.2%
*	I-CABLE Communications, Ltd.	1,030,000		16,081	0.0%
	IGG, Inc.	8,369,000		10,652,014	0.6%
*	Imagi International Holdings, Ltd.	2,142,300		249,865	0.0%
	International Housewares Retail Co., Ltd.	1,044,000		227,259	0.0%
	IPE Group, Ltd.	3,345,000		567,687	0.0%
#*	IRC, Ltd.	29,662,266		504,216	0.0%
	IT, Ltd.	4,590,532		3,272,584	0.2%
#	ITC Properties Group, Ltd.	5,940,836		1,958,247	0.1%
	Jacobson Pharma Corp., Ltd.	1,534,000		360,960	0.0%
	Johnson Electric Holdings, Ltd.	2,713,250		7,901,443	0.4%
	Kader Holdings Co., Ltd.	788,000		134,250	0.0%
	Kam Hing International Holdings, Ltd.	1,830,000		172,417	0.0%
	Karrie International Holdings, Ltd.	2,278,000		333,304	0.0%
#	Keck Seng Investments	878,600		738,227	0.1%
	Kerry Logistics Network, Ltd.	3,110,500		4,336,091	0.2%
	Kin Yat Holdings, Ltd.	130,000		42,514	0.0%
	Kingmaker Footwear Holdings, Ltd.	2,200,955		557,480	0.0%
	Kowloon Development Co., Ltd.	2,625,000		2,952,454	0.2%
*	Kwan On Holdings, Ltd.	2,340,000		257,951	0.0%
	Kwoon Chung Bus Holdings, Ltd.	44,000		24,103	0.0%
	L'Occitane International SA	1,375,500		2,268,511	0.1%
	Lai Sun Development Co., Ltd.	1,952,410		3,254,949	0.2%
	Lai Sun Garment International, Ltd.	673,055		1,006,677	0.1%
	Lam Soon Hong Kong, Ltd.	302,310		563,087	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
*	Landing International Development, Ltd.	139,820,000	$	2,127,472	0.1%
	Landsea Green Group Co., Ltd.	2,544,000		314,530	0.0%
	Langham Hospitality Investments and Langham Hospitality Investments, Ltd.	160,500		65,876	0.0%
#*	LEAP Holdings Group, Ltd.	5,160,000		555,755	0.0%
	Lifestyle International Holdings, Ltd.	2,741,000		5,804,481	0.3%
	Lippo China Resources, Ltd.	20,922,000		551,195	0.0%
	Lippo, Ltd.	1,161,700		557,764	0.0%
	Liu Chong Hing Investment, Ltd.	1,353,200		2,135,675	0.1%
	Luk Fook Holdings International, Ltd.	3,359,000		13,875,297	0.7%
	Luks Group Vietnam Holdings Co., Ltd.	514,913		157,414	0.0%
	Lung Kee Bermuda Holdings	1,609,875		817,965	0.1%
#	Macau Legend Development, Ltd.	18,092,000		2,971,870	0.2%
	Magnificent Hotel Investment, Ltd.	13,170,000		327,519	0.0%
*	Man Sang International, Ltd.	132,000		7,829	0.0%
#	Man Wah Holdings, Ltd.	14,185,600		11,103,779	0.6%
#*	Mason Group Holdings, Ltd.	75,073,399		1,251,424	0.1%
#*	Master Glory Group, Ltd.(BYTP1T9)	50,100,592		343,283	0.0%
*	Master Glory Group, Ltd.(BYTP1T9)	394,860		2,667	0.0%
	Matrix Holdings, Ltd.	1,067,414		362,520	0.0%
*	Maxnerva Technology Services, Ltd.	982,000		151,627	0.0%
*	Mei Ah Entertainment Group, Ltd.	1,080,000		33,965	0.0%
	Meilleure Health International Industry Group, Ltd.	2,118,000		102,223	0.0%
	Melbourne Enterprises, Ltd.	39,500		1,001,695	0.1%
	Melco International Development, Ltd.	98,000		300,625	0.0%
#	Microport Scientific Corp.	2,266,000		2,733,923	0.2%
*	Midas International Holdings, Ltd.	8,740,000		277,838	0.0%
	Midland Holdings, Ltd.	5,254,000		1,420,993	0.1%
*	Midland IC&I, Ltd.	2,591,000		107,443	0.0%
	Ming Fai International Holdings, Ltd.	2,148,000		292,585	0.0%
	Miramar Hotel & Investment	1,047,000		1,971,974	0.1%
	Modern Dental Group, Ltd.	2,131,000		506,854	0.0%
*	Mongolian Mining Corp.	17,058,500		279,268	0.0%
	Morris Holdings, Ltd.	114,000		23,407	0.0%
	NagaCorp, Ltd.	12,168,000		11,020,277	0.6%
	Nameson Holdings, Ltd.	6,032,000		904,912	0.1%
#	Nanfang Communication Holdings, Ltd.	448,000		322,328	0.0%
	Nanyang Holdings, Ltd.	133,500		965,380	0.1%
	National Electronic Hldgs	2,668,600		394,150	0.0%
*	National United Resources Holdings, Ltd.	18,280,000		61,977	0.0%
*	Neo-Neon Holdings, Ltd.	2,337,500		250,028	0.0%
*	New Century Group Hong Kong, Ltd.	13,351,464		225,824	0.0%
*	NEW Concepts Holdings, Ltd.	1,012,000		450,628	0.0%
*	New Sports Group, Ltd.	2,186,000		252,396	0.0%
*	New Times Energy Corp., Ltd.	10,056,600		192,405	0.0%
#*	Newocean Energy Holdings, Ltd.	8,220,000		1,674,887	0.1%
*	Newtree Group Holdings, Ltd.	8,728,000		643,760	0.0%
*	Next Digital, Ltd.	3,875,183		103,659	0.0%
*	Nimble Holdings Co., Ltd.	1,002,000		129,808	0.0%
*	Nine Express, Ltd.	198,000		7,557	0.0%
*	OCI International Holdings, Ltd.	56,000		8,836	0.0%
	On Time Logistics Holdings, Ltd.	104,000		55,144	0.0%
#	OP Financial, Ltd.	5,208,000		2,059,260	0.1%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	Orange Sky Golden Harvest Entertainment Holdings, Ltd.	10,874,706	$	663,335	0.0%
	Orient Overseas International, Ltd.	1,123,000		10,931,357	0.6%
	Oriental Watch Holdings	3,224,800		1,034,036	0.1%
*	Pacific Andes International Holdings, Ltd.	19,435,067		67,875	0.0%
*	Pacific Basin Shipping, Ltd.	33,812,000		9,241,516	0.5%
	Pacific Textiles Holdings, Ltd.	6,776,000		5,754,276	0.3%
	Pak Fah Yeow International, Ltd.	5,000		2,194	0.0%
	Paliburg Holdings, Ltd.	3,180,830		1,356,181	0.1%
#*	Paradise Entertainment, Ltd.	3,652,000		422,565	0.0%
	PC Partner Group, Ltd.	1,798,000		1,430,390	0.1%
*	Pearl Oriental Oil, Ltd.	11,849,400		187,375	0.0%
	Pegasus International Holdings, Ltd.	226,000		30,976	0.0%
	Perfect Shape Beauty Technology, Ltd.	2,088,000		421,996	0.0%
#	Pico Far East Holdings, Ltd.	5,886,000		2,382,167	0.1%
*	Pine Technology Holdings, Ltd.	326,000		39,435	0.0%
	Playmates Holdings, Ltd.	7,082,000		963,704	0.1%
	Playmates Toys, Ltd.	6,328,000		652,354	0.0%
	Plover Bay Technologies, Ltd.	2,192,000		364,734	0.0%
#	Pokfulam Development Co.	234,000		547,573	0.0%
	Polytec Asset Holdings, Ltd.	11,473,526		964,859	0.1%
*	PT International Development Co., Ltd.	4,365,150		288,953	0.0%
	Public Financial Holdings, Ltd.	3,166,000		1,351,623	0.1%
*	PuraPharm Corp., Ltd.	137,000		44,985	0.0%
*	PYI Corp., Ltd.	29,673,973		558,134	0.0%
	Qianhai Health Holdings, Ltd.	1,077,499		10,141	0.0%
*	Quali-Smart Holdings, Ltd.	152,000		10,057	0.0%
#*	Realord Group Holdings, Ltd.	3,492,000		2,091,478	0.1%
	Regal Hotels International Holdings, Ltd.	2,915,800		1,812,770	0.1%
*	Regent Pacific Group, Ltd.	9,670,000		496,534	0.0%
#	Regina Miracle International Holdings, Ltd.	2,067,000		1,605,346	0.1%
	SA SA International Holdings, Ltd.	12,668,429		8,025,943	0.4%
	Safety Godown Co., Ltd.	400,000		842,022	0.1%
	SAS Dragon Holdings, Ltd.	2,182,000		721,205	0.0%
#	SEA Holdings, Ltd.	1,669,523		2,325,332	0.1%
#	Shenwan Hongyuan HK, Ltd.	4,291,250		1,137,741	0.1%
*	Shougang Concord Grand Group, Ltd.	1,158,000		28,454	0.0%
	Shun Ho Property Investments, Ltd.	1,254,757		444,318	0.0%
	Shun Tak Holdings, Ltd.	13,739,419		5,607,156	0.3%
#*	Shunten International Holdings, Ltd.	6,064,000		251,030	0.0%
*	Silver base Group Holdings, Ltd.	6,545,515		472,849	0.0%
*	Sincere Watch Hong Kong, Ltd.	4,450,000		63,343	0.0%
	Sing Tao News Corp., Ltd.	1,974,000		243,671	0.0%
	Singamas Container Holdings, Ltd.	12,870,000		1,799,809	0.1%
	SIS International Holdings	34,000		19,686	0.0%
	SITC International Holdings Co., Ltd.	3,929,000		4,377,090	0.2%
#	Sitoy Group Holdings, Ltd.	1,735,000		382,006	0.0%
*	Sky Light Holdings, Ltd.	721,000		67,706	0.0%
#	SmarTone Telecommunications Holdings, Ltd.	4,045,980		4,171,986	0.2%
*	SOCAM Development, Ltd.	2,446,771		684,809	0.0%
#*	Solartech International Holdings, Ltd.	18,880,000		3,028,337	0.2%
*	Solomon Systech International, Ltd.	11,680,000		482,945	0.0%
	Soundwill Holdings, Ltd.	632,000		1,042,086	0.1%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
*	South China Financial Holdings, Ltd.	21,850,000	$	83,249	0.0%
*	South China Holdings Co., Ltd.	17,774,503		560,598	0.0%
*	South Sea Petroleum Holdings, Ltd.	1,920,000		10,266	0.0%
	Stella International Holdings, Ltd.	2,040,500		2,514,638	0.1%
	Stelux Holdings International, Ltd.	3,011,400		151,177	0.0%
*	Success Universe Group, Ltd.	6,716,000		256,437	0.0%
#*	Summit Ascent Holdings, Ltd.	8,540,000		816,633	0.1%
	Sun Hing Vision Group Holdings, Ltd.	358,000		145,029	0.0%
	Sun Hung Kai & Co., Ltd.	5,113,429		2,870,793	0.2%
	SUNeVision Holdings, Ltd.	140,000		82,713	0.0%
	Sunwah Kingsway Capital Holdings, Ltd.	9,312,500		113,757	0.0%
*	Synergy Group Holdings International, Ltd.	450,000		99,953	0.0%
	TAI Cheung Holdings, Ltd.	2,143,000		2,428,998	0.1%
	Tai Sang Land Development, Ltd.	781,910		503,827	0.0%
*	Talent Property Group, Ltd.	14,355,000		200,612	0.0%
#	Tan Chong International, Ltd.	1,176,000		434,415	0.0%
#	Tao Heung Holdings, Ltd.	1,468,000		248,647	0.0%
#	Television Broadcasts, Ltd.	2,513,000		7,947,942	0.4%
*	Termbray Industries International Holdings, Ltd.	2,304,900		142,527	0.0%
	Tern Properties Co., Ltd.	51,200		31,902	0.0%
#	Texwinca Holdings, Ltd.	7,082,000		3,020,729	0.2%
*	Theme International Holdings, Ltd.	3,620,000		81,820	0.0%
#	Tian Teck Land, Ltd.	1,024,000		1,214,733	0.1%
	TK Group Holdings, Ltd.	882,000		753,108	0.1%
*	Tom Group, Ltd.	1,386,000		370,256	0.0%
#	Town Health International Medical Group, Ltd.	6,692,000		220,747	0.0%
	Tradelink Electronic Commerce, Ltd.	5,670,000		887,104	0.1%
	Transport International Holdings, Ltd.	1,400,541		4,015,516	0.2%
*	Trinity, Ltd.	8,046,000		878,961	0.1%
*	TSC Group Holdings, Ltd.	3,163,000		233,722	0.0%
#	Tsui Wah Holdings, Ltd.	3,970,000		500,550	0.0%
	Union Medical Healthcare, Ltd.	1,330,097		913,153	0.1%
#	United Laboratories International Holdings, Ltd. (The)	6,090,000		6,332,157	0.3%
*	Universal Technologies Holdings, Ltd.	7,410,000		264,473	0.0%
*	Universe International Financial Holdings, Ltd.	405,000		33,579	0.0%
*	Up Energy Development Group, Ltd.	3,929,000		12,119	0.0%
	Upbest Group, Ltd.	72,000		9,498	0.0%
*	Value Convergence Holdings, Ltd.	5,376,000		908,848	0.1%
#	Value Partners Group, Ltd.	6,886,000		5,414,395	0.3%
	Vanke Property Overseas, Ltd.	49,000		29,437	0.0%
	Vantage International Holdings, Ltd.	3,160,000		326,488	0.0%
	Vedan International Holdings, Ltd.	3,576,000		347,262	0.0%
*	Victory City International Holdings, Ltd.	33,141,660		556,116	0.0%
	Vitasoy International Holdings, Ltd.	5,691,000		18,183,928	1.0%
#	VPower Group International Holdings, Ltd.	1,196,000		491,271	0.0%
*	VS International Group, Ltd.	1,022,000		21,403	0.0%
#	VSTECS Holdings, Ltd.	5,793,600		2,895,474	0.2%
	VTech Holdings, Ltd.	1,076,800		12,411,023	0.7%
	Wai Kee Holdings, Ltd.	7,558,738		3,825,252	0.2%
*	Wan Kei Group Holdings, Ltd.	625,000		97,203	0.0%
	Wang On Group, Ltd.	23,260,000		316,703	0.0%
#*	We Solutions, Ltd.	736,000		110,212	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
HONG KONG — (Continued)
	Win Hanverky Holdings, Ltd.	2,938,000	$	254,290	0.0%
*	Winfull Group Holdings, Ltd.	9,512,000		171,791	0.0%
	Wing On Co. International, Ltd.	759,000		2,765,521	0.2%
	Wing Tai Properties, Ltd.	2,127,331		1,792,599	0.1%
	Wonderful Sky Financial Group Holdings, Ltd.	1,386,000		209,405	0.0%
	Wong's International Holdings, Ltd.	737,641		279,733	0.0%
	Wong's Kong King International	322,000		46,700	0.0%
	Yangtzekiang Garment, Ltd.	592,500		217,696	0.0%
#*	Yat Sing Holdings, Ltd.	1,385,000		50,029	0.0%
	Yau Lee Holdings, Ltd.	424,000		75,565	0.0%
	YGM Trading, Ltd.	447,000		358,641	0.0%
	YT Realty Group, Ltd.	749,000		233,545	0.0%
	Yugang International, Ltd.	90,818,000		2,480,340	0.1%
#*	Yunfeng Financial Group, Ltd.	360,000		220,087	0.0%
*	ZH International Holdings, Ltd.	280,000		8,801	0.0%
TOTAL HONG KONG				508,995,260	26.5%
NEW ZEALAND — (5.2%)
*	a2 Milk Co., Ltd.	729,635		5,650,970	0.3%
	Abano Healthcare Group, Ltd.	32,855		195,837	0.0%
	Air New Zealand, Ltd.	947,745		2,036,489	0.1%
#	Arvida Group, Ltd.	377,153		326,823	0.0%
	Briscoe Group, Ltd.	2,235		5,376	0.0%
#	CBL Corp., Ltd.	52,334		84,272	0.0%
#	Chorus, Ltd.	2,364,083		6,689,767	0.4%
	Colonial Motor Co., Ltd. (The)	144,588		783,285	0.0%
	Comvita, Ltd.	22,618		90,103	0.0%
	EBOS Group, Ltd.	449,499		5,461,957	0.3%
	Evolve Education Group, Ltd.	36,611		14,384	0.0%
#	Freightways, Ltd.	960,640		5,084,560	0.3%
#	Genesis Energy, Ltd.	1,498,445		2,475,827	0.1%
#	Gentrack Group, Ltd.	40,949		197,440	0.0%
	Hallenstein Glasson Holdings, Ltd.	247,244		796,356	0.0%
	Heartland Bank, Ltd.	1,297,373		1,492,447	0.1%
#	Infratil, Ltd.	3,364,517		7,696,659	0.4%
	Investore Property, Ltd.	60,299		60,941	0.0%
	Kathmandu Holdings, Ltd.	729,158		1,437,390	0.1%
	Mainfreight, Ltd.	517,867		9,745,774	0.5%
	Methven, Ltd.	96,877		67,720	0.0%
#	Metlifecare, Ltd.	675,137		2,861,635	0.2%
#	Metro Performance Glass, Ltd.	76,447		48,154	0.0%
#	Millennium & Copthorne Hotels New Zealand, Ltd.	395,725		848,407	0.1%
*	New Zealand Oil & Gas, Ltd.	40,254		16,352	0.0%
	New Zealand Refining Co., Ltd. (The)	726,793		1,200,938	0.1%
	NZME, Ltd.(BD310N3)	16,366		9,191	0.0%
	NZME, Ltd.(BD5W4X2)	945,851		548,508	0.0%
#	NZX, Ltd.	1,036,968		793,397	0.0%
*	Pacific Edge, Ltd.	442,720		86,889	0.0%
#	PGG Wrightson, Ltd.	1,054,162		470,541	0.0%
	Port of Tauranga, Ltd.	1,908,907		6,590,116	0.3%
*	Pushpay Holdings, Ltd.	253,183		716,036	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
NEW ZEALAND — (Continued)
	Restaurant Brands New Zealand, Ltd.	608,221	$	3,212,346	0.2%
*	Rubicon, Ltd.	1,442,620		283,390	0.0%
	Sanford Ltd/NZ	382,357		1,988,212	0.1%
	Scales Corp., Ltd.	210,802		661,363	0.0%
	Scott Technology, Ltd.	45,734		108,444	0.0%
#	Skellerup Holdings, Ltd.	700,304		943,270	0.1%
#	SKY Network Television, Ltd.	2,080,268		3,659,711	0.2%
	SKYCITY Entertainment Group, Ltd.	4,817,514		13,170,835	0.7%
	Steel & Tube Holdings, Ltd.	441,625		433,414	0.0%
#	Summerset Group Holdings, Ltd.	904,403		4,683,534	0.3%
#*	Synlait Milk, Ltd.	187,523		1,451,462	0.1%
#	Tegel Group Holdings, Ltd.	202,323		160,337	0.0%
	Tilt Renewables, Ltd.	87,581		122,627	0.0%
#	Tourism Holdings, Ltd.	501,527		2,258,046	0.1%
*	Tower, Ltd.	887,040		462,577	0.0%
	Trade Me Group, Ltd.	1,797,165		5,666,870	0.3%
#	Trustpower, Ltd.	153,767		588,251	0.0%
	Turners Automotive Group, Ltd.	13,182		28,558	0.0%
	Vector, Ltd.	1,198,563		2,750,596	0.1%
	Vista Group International, Ltd.	66,825		173,304	0.0%
#	Warehouse Group, Ltd. (The)	698,604		974,053	0.1%
TOTAL NEW ZEALAND				108,365,741	5.6%
SINGAPORE — (9.1%)
*	Abterra, Ltd.	230,320		6,593	0.0%
	Accordia Golf Trust	3,736,300		1,685,267	0.1%
#	AEM Holdings, Ltd.	1,579,000		1,297,639	0.1%
	Amara Holdings, Ltd.	974,800		368,705	0.0%
	Ascendas India Trust	2,502,000		1,854,181	0.1%
*	ASL Marine Holdings, Ltd.	148,950		10,375	0.0%
	Baker Technology, Ltd.	289,580		107,117	0.0%
#	Banyan Tree Holdings, Ltd.	1,145,200		445,268	0.0%
#	Best World International, Ltd.	2,527,050		2,293,827	0.1%
#	Bonvests Holdings, Ltd.	950,000		926,683	0.1%
	Boustead Projects, Ltd.	497,612		296,183	0.0%
	Boustead Singapore, Ltd.	1,848,036		1,057,306	0.1%
#	BreadTalk Group, Ltd.	1,856,800		1,618,384	0.1%
#	Bukit Sembawang Estates, Ltd.	1,014,203		4,301,043	0.2%
	Bund Center Investment, Ltd.	659,825		327,861	0.0%
#	Centurion Corp., Ltd.	1,207,600		384,144	0.0%
#	China Aviation Oil Singapore Corp., Ltd.	2,459,399		2,667,039	0.2%
	China Sunsine Chemical Holdings, Ltd.	1,091,500		1,238,054	0.1%
#	Chip Eng Seng Corp., Ltd.	3,729,600		2,295,528	0.1%
	Chuan Hup Holdings, Ltd.	3,853,500		845,994	0.1%
#	CITIC Envirotech, Ltd.	1,456,400		587,594	0.0%
#*	Cityneon Holdings, Ltd.	511,100		352,014	0.0%
	Civmec, Ltd.	162,700		67,455	0.0%
	ComfortDelGro Corp., Ltd.	2,383,200		4,101,446	0.2%
#*	COSCO Shipping International Singapore Co., Ltd.	7,627,500		2,087,634	0.1%
#*	Creative Technology, Ltd.	372,100		1,521,314	0.1%
#	CSE Global, Ltd.	3,815,400		1,202,998	0.1%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SINGAPORE — (Continued)
	Del Monte Pacific, Ltd.	2,449,764	$	319,341	0.0%
	Delfi, Ltd.	788,500		725,531	0.0%
#*	Delong Holdings, Ltd.	99,800		384,058	0.0%
	DMX Technologies Group, Ltd.	2,096,000		30,261	0.0%
	Duty Free International, Ltd.	720,700		105,545	0.0%
*	Dyna-Mac Holdings, Ltd.	2,007,300		180,837	0.0%
	Elec & Eltek International Co., Ltd.	163,500		228,283	0.0%
	EnGro Corp., Ltd.	287,900		187,059	0.0%
#*	Ezion Holdings, Ltd.	23,232,278		1,537,116	0.1%
#*	Ezra Holdings, Ltd.	14,272,823		216,769	0.0%
	Far East Orchard, Ltd.	1,110,085		1,082,408	0.1%
#	First Resources, Ltd.	4,909,700		5,611,122	0.3%
	First Sponsor Group, Ltd.	484,727		441,015	0.0%
#	Food Empire Holdings, Ltd.	1,418,200		681,015	0.0%
#*	Fragrance Group, Ltd.	6,077,000		659,817	0.0%
	Fraser and Neave, Ltd.	8,000		11,311	0.0%
#	Frencken Group, Ltd.	1,066,300		362,577	0.0%
	Fu Yu Corp., Ltd.	2,542,400		311,313	0.0%
#*	Gallant Venture, Ltd.	4,992,500		486,015	0.0%
#	Geo Energy Resources, Ltd.	3,495,800		551,446	0.0%
	GK Goh Holdings, Ltd.	1,484,065		1,100,788	0.1%
	GL, Ltd.	3,431,500		1,974,902	0.1%
	Golden Agri-Resources, Ltd.	24,684,500		5,511,537	0.3%
#	Golden Energy & Resources, Ltd.	603,700		154,723	0.0%
	GP Industries, Ltd.	2,567,609		1,309,716	0.1%
#	GuocoLand, Ltd.	1,394,514		2,077,978	0.1%
#	Halcyon Agri Corp., Ltd.	1,718,048		648,608	0.0%
	Hanwell Holdings, Ltd.	1,888,219		290,285	0.0%
#	Haw Par Corp., Ltd.	172,500		1,698,716	0.1%
#	Health Management International, Ltd.	1,542,930		673,929	0.0%
#	Hi-P International, Ltd.	1,409,500		1,223,010	0.1%
#	Hiap Hoe, Ltd.	498,000		323,809	0.0%
	Ho Bee Land, Ltd.	1,611,600		2,800,097	0.2%
	Hong Fok Corp., Ltd.	3,531,394		1,735,080	0.1%
	Hong Leong Asia, Ltd.	896,300		590,607	0.0%
#	Hong Leong Finance, Ltd.	487,400		946,343	0.1%
	Hotel Grand Central, Ltd.	1,531,768		1,536,602	0.1%
	Hour Glass, Ltd. (The)	1,814,832		852,057	0.1%
	Hutchison Port Holdings Trust	11,795,400		3,292,014	0.2%
	Hwa Hong Corp., Ltd.	2,123,500		513,921	0.0%
#	Hyflux, Ltd.	3,707,700		185,385	0.0%
#	iFAST Corp., Ltd.	626,900		486,662	0.0%
#	Indofood Agri Resources, Ltd.	3,498,500		551,597	0.0%
	InnoTek, Ltd.	166,400		43,691	0.0%
	Isetan Singapore, Ltd.	119,000		327,223	0.0%
#	Japfa, Ltd.	2,880,000		1,337,979	0.1%
#	k1 Ventures, Ltd.	1,005,220		72,302	0.0%
	Keppel Infrastructure Trust	10,629,632		4,055,269	0.2%
#	Keppel Telecommunications & Transportation, Ltd.	1,369,300		1,464,821	0.1%
	Koh Brothers Group, Ltd.	1,432,000		299,423	0.0%
#	KSH Holdings, Ltd.	1,278,300		608,724	0.0%
	Lee Metal Group, Ltd.	137,900		42,509	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SINGAPORE — (Continued)
#	Lian Beng Group, Ltd.	2,611,200	$	966,119	0.1%
	Low Keng Huat Singapore, Ltd.	912,900		412,679	0.0%
#	Lum Chang Holdings, Ltd.	1,094,030		276,935	0.0%
#	M1, Ltd.	2,933,300		3,440,329	0.2%
#	Mandarin Oriental International, Ltd.	1,237,200		2,881,511	0.2%
#*	Marco Polo Marine, Ltd.	3,322,500		73,019	0.0%
#	Memtech International, Ltd.	177,700		163,467	0.0%
	Metro Holdings, Ltd.	2,806,592		2,342,424	0.1%
	Mewah International, Inc.	89,000		18,308	0.0%
	Micro-Mechanics Holdings, Ltd.	300		393	0.0%
#*	Midas Holdings, Ltd.	9,974,000		1,054,133	0.1%
#*	mm2 Asia, Ltd.	1,848,300		595,493	0.0%
*	Nam Cheong, Ltd.	6,557,040		18,288	0.0%
	Nera Telecommunications, Ltd.	1,143,400		264,221	0.0%
	New Toyo International Holdings, Ltd.	1,624,000		274,019	0.0%
#	NSL, Ltd.	409,900		385,285	0.0%
#	OUE, Ltd.	2,104,300		2,408,020	0.1%
#	Oxley Holdings, Ltd.	4,732,756		1,438,765	0.1%
#*	Pacc Offshore Services Holdings, Ltd.	1,132,900		253,257	0.0%
	Pan-United Corp., Ltd.	2,435,750		554,160	0.0%
	Penguin International, Ltd.	446,032		114,229	0.0%
	Perennial Real Estate Holdings, Ltd.	148,900		92,228	0.0%
#	Q&M Dental Group Singapore, Ltd.	2,269,300		849,358	0.1%
	QAF, Ltd.	1,414,056		948,737	0.1%
#*	Raffles Education Corp., Ltd.	5,429,723		687,389	0.0%
#	Raffles Medical Group, Ltd.	5,741,678		4,249,937	0.2%
	RHT Health Trust	3,131,500		1,780,643	0.1%
	Riverstone Holdings, Ltd.	1,246,300		913,977	0.1%
#	Roxy-Pacific Holdings, Ltd.	454,640		161,467	0.0%
	SBS Transit, Ltd.	926,200		1,767,609	0.1%
#	SembCorp Marine, Ltd.	2,913,100		4,339,482	0.2%
	Sheng Siong Group, Ltd.	4,605,200		3,578,110	0.2%
	SHS Holdings, Ltd.	2,304,100		389,597	0.0%
	SIA Engineering Co., Ltd.	973,800		2,242,721	0.1%
#	SIIC Environment Holdings, Ltd.	4,783,320		1,472,553	0.1%
#	Sinarmas Land, Ltd.	6,897,100		1,537,560	0.1%
#	Sing Holdings, Ltd.	1,623,100		504,130	0.0%
	Sing Investments & Finance, Ltd.	324,075		365,897	0.0%
	Singapore Post, Ltd.	11,539,300		10,655,436	0.6%
#	Singapore Press Holdings, Ltd.	7,169,400		13,662,451	0.7%
	Singapore Reinsurance Corp., Ltd.	1,514,530		349,492	0.0%
	Singapore Shipping Corp., Ltd.	1,640,700		337,227	0.0%
	Singapura Finance, Ltd.	348,124		248,656	0.0%
#*	Sino Grandness Food Industry Group, Ltd.	4,336,435		650,542	0.0%
	Stamford Land Corp., Ltd.	3,188,100		1,122,710	0.1%
	StarHub, Ltd.	3,686,000		4,484,200	0.2%
	Straco Corp., Ltd.	130,000		73,447	0.0%
#	Sunningdale Tech, Ltd.	1,117,560		1,044,401	0.1%
*	SunVic Chemical Holdings, Ltd.	841,445		13,781	0.0%
#*	Swiber Holdings, Ltd.	2,895,250		43,349	0.0%
#*	Thomson Medical Group, Ltd.	4,294,500		251,287	0.0%
*	Tiong Woon Corp. Holding, Ltd.	228,100		51,079	0.0%

The Asia Pacific Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SINGAPORE — (Continued)
#	Tuan Sing Holdings, Ltd.	4,868,495	$	1,460,263	0.1%
#	UMS Holdings, Ltd.	3,502,675		2,121,289	0.1%
	United Engineers, Ltd.	3,318,328		6,838,099	0.4%
	United Industrial Corp., Ltd.	155,269		370,099	0.0%
	United Overseas Insurance, Ltd.	181,850		920,758	0.1%
	UOB-Kay Hian Holdings, Ltd.	2,086,021		1,943,660	0.1%
	UPP Holdings, Ltd.	3,076,900		498,045	0.0%
#	Valuetronics Holdings, Ltd.	2,410,850		1,172,023	0.1%
	Vibrant Group, Ltd.	2,058,620		496,254	0.0%
	Vicom, Ltd.	119,500		533,145	0.0%
	Wee Hur Holdings, Ltd.	2,769,000		458,991	0.0%
	Wheelock Properties Singapore, Ltd.	1,997,800		2,386,740	0.1%
	Wing Tai Holdings, Ltd.	3,551,467		5,180,307	0.3%
	Xinghua Port Holdings, Ltd.	2,435,750		297,502	0.0%
	Yeo Hiap Seng, Ltd.	223,731		165,786	0.0%
	YHI International, Ltd.	176,200		58,159	0.0%
#*	Yongnam Holdings, Ltd.	2,917,700		577,720	0.0%
	Zhongmin Baihui Retail Group, Ltd.	26,900		16,486	0.0%
TOTAL SINGAPORE				189,090,625	9.8%
TOTAL COMMON STOCKS				1,915,193,298	99.6%
RIGHTS/WARRANTS — (0.0%)
AUSTRALIA — (0.0%)
*	oOh!media, Ltd.	266,500		—	0.0%
HONG KONG — (0.0%)
*	Champion Technology Holdings, Ltd. 07/11/18	432,127		2,258	0.0%
*	Enerchina Holdings, Ltd. 07/13/18	6,002,700		3,826	0.0%
*	GR Properties, Ltd. 07/16/18	795,000		3,040	0.0%
TOTAL HONG KONG				9,124	0.0%
SINGAPORE — (0.0%)
#*	Ezion Holdings, Ltd. Warrants 04/16/23	7,554,827		—	0.0%
*	Thomson Medical Group, Ltd. Warrants 04/24/19	8,589,000		18,912	0.0%
TOTAL SINGAPORE				18,912	0.0%
TOTAL RIGHTS/WARRANTS				28,036	0.0%
TOTAL INVESTMENT SECURITIES				1,915,221,334
			Value†
SECURITIES LENDING COLLATERAL — (7.8%)
§@	DFA Short Term Investment Fund	14,062,831		162,721,016	8.5%
TOTAL INVESTMENTS — (100.0%) (Cost $2,011,387,179)^			$	2,077,942,350	108.1%

THE UNITED KINGDOM SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

June 30, 2018
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (96.3%)
Consumer Discretionary — (23.1%)
	4imprint Group P.L.C.	109,708	$	2,491,273	0.1%
	888 Holdings P.L.C.	1,581,390		5,625,466	0.2%
	AA P.L.C.	3,246,551		5,311,772	0.2%
	B&M European Value Retail SA	3,912,624		20,785,287	0.9%
	Bellway P.L.C.	702,602		27,756,848	1.2%
	Bloomsbury Publishing P.L.C.	311,604		968,532	0.0%
	Bovis Homes Group P.L.C.	933,629		14,077,000	0.6%
	Card Factory P.L.C.	1,228,787		3,189,883	0.1%
*	Carpetright P.L.C.	406,341		153,946	0.0%
#	Centaur Media P.L.C.	537,905		340,205	0.0%
	Cineworld Group P.L.C.	6,296,220		21,975,849	0.9%
	Connect Group P.L.C.	1,312,384		537,122	0.0%
	Countryside Properties P.L.C.	1,337,928		6,061,061	0.3%
	Crest Nicholson Holdings P.L.C.	1,693,312		8,685,668	0.4%
#	Daily Mail & General Trust P.L.C.	1,699,883		16,600,324	0.7%
#	Debenhams P.L.C.	6,862,458		1,348,149	0.1%
	DFS Furniture P.L.C.	914,660		2,480,979	0.1%
	Dignity P.L.C.	288,661		3,828,044	0.2%
	Dixons Carphone P.L.C.	5,013,241		12,302,590	0.5%
	Domino's Pizza Group P.L.C.	2,666,094		12,167,865	0.5%
	Dunelm Group P.L.C.	506,904		3,371,045	0.1%
*	EI Group P.L.C.	3,254,622		6,248,254	0.3%
	Entertainment One, Ltd.	1,789,090		8,652,481	0.4%
	Euromoney Institutional Investor P.L.C.	274,153		4,841,631	0.2%
*	Findel P.L.C.	239,314		886,314	0.0%
	Fuller Smith & Turner P.L.C. Class A	140,561		1,757,788	0.1%
*	Future P.L.C.	44,467		306,233	0.0%
*	GAME Digital P.L.C.	15,397		7,801	0.0%
	Games Workshop Group P.L.C.	160,103		6,312,897	0.3%
#	Greene King P.L.C.	1,857,398		14,069,916	0.6%
	Greggs P.L.C.	594,391		7,795,027	0.3%
	GVC CVR	6,643,757		949,585	0.0%
	GVC Holdings P.L.C.	1,893,627		26,185,011	1.1%
	Gym Group P.L.C. (The)	561,443		2,044,487	0.1%
	Halfords Group P.L.C.	1,287,580		5,880,518	0.2%
	Headlam Group P.L.C.	470,006		3,032,361	0.1%
	Henry Boot P.L.C.	456,365		1,762,561	0.1%
	Hollywood Bowl Group P.L.C.	134,532		403,759	0.0%
	Hostelworld Group P.L.C.	162,607		675,927	0.0%
	Huntsworth P.L.C.	1,160,709		1,843,657	0.1%
	Inchcape P.L.C.	2,685,031		27,603,499	1.1%
	Informa P.L.C.	2,557,081		28,107,633	1.2%
	ITE Group P.L.C.	1,532,117		1,615,444	0.1%
	J D Wetherspoon P.L.C.	481,928		8,000,151	0.3%
*	Jackpotjoy P.L.C.	326,591		4,131,879	0.2%
	JD Sports Fashion P.L.C.	2,289,045		13,263,812	0.5%
#	John Menzies P.L.C.	476,199		3,930,948	0.2%
	Lookers P.L.C.	1,879,684		2,688,233	0.1%
	Marston's P.L.C.	4,299,273		5,635,288	0.2%
	McCarthy & Stone P.L.C.	1,806,265		2,331,876	0.1%
	Merlin Entertainments P.L.C.	2,913,087		14,852,934	0.6%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Discretionary — (Continued)
	Millennium & Copthorne Hotels P.L.C.	995,879	$	6,966,465	0.3%
	Mitchells & Butlers P.L.C.	1,316,012		4,505,225	0.2%
	MJ Gleeson P.L.C.	197,852		2,066,415	0.1%
#*	Mothercare P.L.C.	771,640		303,267	0.0%
	Motorpoint group P.L.C.	31,635		96,857	0.0%
	N Brown Group P.L.C.	1,083,230		2,418,433	0.1%
*	Ocado Group P.L.C.	2,765,277		37,371,053	1.6%
#	On the Beach Group P.L.C.	602,035		3,970,877	0.2%
	Pendragon P.L.C.	7,409,563		2,390,617	0.1%
	Pets at Home Group P.L.C.	1,657,371		2,827,646	0.1%
	Photo-Me International P.L.C.	1,345,530		1,808,228	0.1%
	Playtech P.L.C.	1,673,885		16,598,006	0.7%
	Rank Group P.L.C.	866,364		2,180,097	0.1%
	Redrow P.L.C.	1,446,739		10,163,765	0.4%
	Restaurant Group P.L.C. (The)	1,185,444		4,390,050	0.2%
	Revolution Bars Group P.L.C.	17,764		34,111	0.0%
	Sportech P.L.C.	408,363		439,853	0.0%
*	Sports Direct International P.L.C.	1,322,983		6,960,569	0.3%
	SSP Group P.L.C.	2,417,539		20,171,146	0.8%
	St. Ives P.L.C.	839,218		1,137,047	0.0%
	STV Group P.L.C.	4,868		28,632	0.0%
	Superdry P.L.C.	347,061		5,129,407	0.2%
	Tarsus Group P.L.C.	235,829		887,366	0.0%
	Ted Baker P.L.C.	158,643		4,501,834	0.2%
	Thomas Cook Group P.L.C.	8,687,680		12,310,960	0.5%
	Topps Tiles P.L.C.	925,429		783,013	0.0%
	Trinity Mirror P.L.C.	1,782,656		1,802,677	0.1%
	Vitec Group P.L.C. (The)	181,545		3,135,996	0.1%
	WH Smith P.L.C.	687,183		18,088,069	0.8%
	William Hill P.L.C.	5,838,359		23,318,239	1.0%
Total Consumer Discretionary				572,662,733	23.8%
Consumer Staples — (4.2%)
	A.G. Barr P.L.C.	677,750		6,147,447	0.3%
	Anglo-Eastern Plantations P.L.C.	107,628		980,123	0.0%
	Britvic P.L.C.	1,368,941		14,037,039	0.6%
	Carr's Group P.L.C.	343,111		665,099	0.0%
	Cranswick P.L.C.	306,315		13,603,631	0.6%
	Dairy Crest Group P.L.C.	934,749		6,048,706	0.2%
	Devro P.L.C.	968,275		2,544,538	0.1%
	Greencore Group P.L.C.	3,643,038		8,919,881	0.4%
	Hilton Food Group P.L.C.	120,812		1,586,882	0.1%
	McBride P.L.C.	1,090,323		1,920,872	0.1%
	McColl's Retail Group P.L.C.	115,965		320,656	0.0%
*	Premier Foods P.L.C.	4,937,259		2,460,559	0.1%
	PZ Cussons P.L.C.	1,596,632		4,740,504	0.2%
*	REA Holdings P.L.C.	50,639		228,275	0.0%
	Stock Spirits Group P.L.C.	1,032,160		3,097,260	0.1%
	Tate & Lyle P.L.C.	2,817,200		23,975,381	1.0%
	Tesco P.L.C.	3,743,058		12,664,991	0.5%
Total Consumer Staples				103,941,844	4.3%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Energy — (4.9%)
	Anglo Pacific Group P.L.C.	886,534	$	1,668,775	0.1%
#*	Cairn Energy P.L.C.	3,823,357		12,554,228	0.5%
*	EnQuest P.L.C.	6,334,413		2,937,223	0.1%
*	Gulf Keystone Petroleum, Ltd.	1,105,255		3,646,025	0.1%
*	Gulf Marine Services P.L.C.	122,883		67,720	0.0%
*	Hunting P.L.C.	897,941		9,180,214	0.4%
	James Fisher & Sons P.L.C.	278,743		6,425,688	0.3%
	John Wood Group P.L.C.	3,103,490		25,628,620	1.0%
*	Lamprell P.L.C.	1,219,262		1,517,613	0.1%
*	Nostrum Oil & Gas P.L.C.	184,064		469,044	0.0%
*	Ophir Energy P.L.C.	4,489,031		2,991,751	0.1%
	Petrofac, Ltd.	1,465,190		11,255,660	0.5%
*	Premier Oil P.L.C.	4,783,713		8,088,982	0.3%
	Soco International P.L.C.	1,265,317		1,609,639	0.1%
	Stobart Group, Ltd.	1,402,374		4,248,587	0.2%
*	Tullow Oil P.L.C.	8,841,053		28,447,315	1.2%
Total Energy				120,737,084	5.0%
Financials — (14.9%)
#	Arrow Global Group P.L.C.	964,887		3,073,044	0.1%
	Ashmore Group P.L.C.	2,065,004		10,124,232	0.4%
	Bank of Georgia Group P.L.C.	236,037		5,854,088	0.2%
	Beazley P.L.C.	3,286,678		25,327,129	1.1%
	Brewin Dolphin Holdings P.L.C.	1,701,698		7,954,261	0.3%
	Charles Stanley Group P.L.C.	122,025		606,935	0.0%
#	Charles Taylor P.L.C.	206,958		857,680	0.0%
	Chesnara P.L.C.	717,229		3,419,990	0.1%
	Close Brothers Group P.L.C.	947,184		18,490,763	0.8%
	CMC Markets P.L.C.	680,129		1,783,452	0.1%
#	CYBG P.L.C.	4,059,115		17,005,637	0.7%
	esure Group P.L.C.	1,683,935		4,815,573	0.2%
*	Georgia Capital P.L.C.	236,037		3,208,552	0.1%
	Hansard Global P.L.C.	16,468		13,124	0.0%
	Hastings Group Holdings P.L.C.	1,122,422		3,761,287	0.2%
	Hiscox, Ltd.	1,516,230		30,429,204	1.3%
	IG Group Holdings P.L.C.	2,208,193		25,038,841	1.0%
	Intermediate Capital Group P.L.C.	1,502,893		21,772,260	0.9%
	International Personal Finance P.L.C.	1,264,200		3,396,210	0.1%
#*	IP Group P.L.C.	2,198,731		3,665,620	0.2%
	Jardine Lloyd Thompson Group P.L.C.	774,776		13,086,112	0.6%
	Jupiter Fund Management P.L.C.	2,350,436		13,780,400	0.6%
	Just Group P.L.C.	3,520,684		6,261,030	0.3%
	Lancashire Holdings, Ltd.	1,282,678		9,584,870	0.4%
	Man Group P.L.C.	10,726,074		24,864,262	1.0%
#*	Metro Bank P.L.C.	58,108		2,472,133	0.1%
	NEX Group P.L.C.	1,743,102		23,562,831	1.0%
	Non-Standard Finance P.L.C.	215,168		173,196	0.0%
	OneSavings Bank P.L.C.	919,906		4,964,117	0.2%
	Paragon Banking Group P.L.C.	1,686,186		10,631,502	0.4%
	Phoenix Group Holdings	2,294,926		20,436,362	0.9%
*	Provident Financial P.L.C.	353,503		2,789,125	0.1%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
	Rathbone Brothers P.L.C.	270,774	$	9,239,694	0.4%
	River & Mercantile Group P.L.C.	10,512		37,072	0.0%
	S&U P.L.C.	20,417		687,229	0.0%
	Saga P.L.C.	5,752,086		9,515,938	0.4%
	TP ICAP P.L.C.	3,254,964		18,059,271	0.8%
	Virgin Money Holdings UK P.L.C.	1,617,711		7,788,463	0.3%
	Waterloo Investment Holdings, Ltd.	4,000		206	0.0%
Total Financials				368,531,695	15.3%
Health Care — (3.3%)
*	BTG P.L.C.	2,027,017		13,756,875	0.6%
	Cambian Group P.L.C.	559,761		1,121,721	0.0%
#*	Circassia Pharmaceuticals P.L.C.	498,540		552,866	0.0%
	Consort Medical P.L.C.	283,200		4,447,824	0.2%
	Dechra Pharmaceuticals P.L.C.	146,225		5,351,425	0.2%
	Genus P.L.C.	275,910		9,570,261	0.4%
	Hikma Pharmaceuticals P.L.C.	557,610		10,998,618	0.5%
*	Indivior P.L.C.	4,141,064		20,852,311	0.9%
	Integrated Diagnostics Holdings P.L.C.	330,094		1,520,859	0.1%
	Mediclinic International P.L.C.	317,838		2,201,932	0.1%
	Spire Healthcare Group P.L.C.	1,285,215		4,238,886	0.2%
	UDG Healthcare P.L.C.	314,515		3,417,939	0.1%
*	Vectura Group P.L.C.	3,637,945		3,738,852	0.1%
Total Health Care				81,770,369	3.4%
Industrials — (25.4%)
	Aggreko P.L.C.	1,404,819		12,500,599	0.5%
	Air Partner P.L.C.	253,425		369,904	0.0%
	Alumasc Group P.L.C. (The)	573		1,021	0.0%
	Avon Rubber P.L.C.	163,246		3,077,417	0.1%
	Babcock International Group P.L.C.	2,030,798		21,819,845	0.9%
	Balfour Beatty P.L.C.	4,202,276		15,684,423	0.7%
	BBA Aviation P.L.C.	6,807,360		30,539,017	1.3%
	Biffa P.L.C.	500,241		1,643,199	0.1%
	Bodycote P.L.C.	1,208,134		15,550,307	0.6%
	Braemar Shipping Services P.L.C.	141,381		482,893	0.0%
	Capita P.L.C.	4,141,438		8,704,737	0.4%
#	Carillion P.L.C.	2,236,594		333,016	0.0%
	Castings P.L.C.	157,637		852,460	0.0%
	Chemring Group P.L.C.	1,688,550		4,957,226	0.2%
	Clarkson P.L.C.	137,976		4,179,896	0.2%
	Clipper Logistics P.L.C.	123,060		685,425	0.0%
*	Cobham P.L.C.	13,168,767		22,267,363	0.9%
	Communisis P.L.C.	1,085,623		763,549	0.0%
	Costain Group P.L.C.	628,638		3,645,642	0.2%
	De La Rue P.L.C.	662,727		4,866,282	0.2%
#*	Dialight P.L.C.	102,467		679,865	0.0%
	Diploma P.L.C.	674,382		11,632,451	0.5%
*	Firstgroup P.L.C.	7,315,687		8,013,928	0.3%
*	Flybe Group P.L.C.	616,871		332,362	0.0%
	G4S P.L.C.	937,231		3,301,327	0.1%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Galliford Try P.L.C.	644,891	$	7,403,527	0.3%
	Go-Ahead Group P.L.C.	260,989		5,452,653	0.2%
	Goodwin P.L.C.	383		9,651	0.0%
#	Grafton Group P.L.C.	1,383,469		14,495,529	0.6%
	Harvey Nash Group P.L.C.	29,146		44,993	0.0%
	Hays P.L.C.	9,271,765		22,768,642	0.9%
	Hogg Robinson Group P.L.C.	182,016		286,749	0.0%
	HomeServe P.L.C.	1,540,342		18,218,966	0.8%
	Howden Joinery Group P.L.C.	4,166,656		29,382,942	1.2%
	IMI P.L.C.	1,419,616		21,125,342	0.9%
#*	Interserve P.L.C.	924,810		774,152	0.0%
	IWG P.L.C.	3,471,531		14,588,014	0.6%
	John Laing Group P.L.C.	1,789,254		6,486,364	0.3%
	Keller Group P.L.C.	464,193		6,192,114	0.3%
#	Kier Group P.L.C.	581,723		7,357,125	0.3%
	Management Consulting Group P.L.C.(BFWFZT1)	1,541,807		35,609	0.0%
*	Management Consulting Group P.L.C.(0197902)	788,035		28,725	0.0%
	Mears Group P.L.C.	751,984		3,391,926	0.1%
	Meggitt P.L.C.	4,709,380		30,560,089	1.3%
	Melrose Industries P.L.C.	7,350,451		20,567,029	0.9%
#	Mitie Group P.L.C.	2,122,246		4,367,040	0.2%
	Morgan Advanced Materials P.L.C.	1,627,460		7,007,538	0.3%
	Morgan Sindall Group P.L.C.	227,954		4,322,138	0.2%
	National Express Group P.L.C.	2,765,560		14,602,429	0.6%
	Norcros P.L.C.	96,501		272,979	0.0%
	Northgate P.L.C.	831,898		4,454,608	0.2%
	Pagegroup P.L.C.	2,035,829		15,095,725	0.6%
	PayPoint P.L.C.	339,717		4,185,371	0.2%
	Polypipe Group P.L.C.	1,210,218		6,132,254	0.3%
	Porvair P.L.C.	13,575		87,368	0.0%
	QinetiQ Group P.L.C.	3,422,552		12,147,094	0.5%
	Renewi P.L.C.	4,064,738		4,183,775	0.2%
#*	Renold P.L.C.	193,435		73,189	0.0%
	Rentokil Initial P.L.C.	210,086		968,629	0.0%
	Ricardo P.L.C.	291,419		3,695,527	0.2%
	Robert Walters P.L.C.	381,498		3,538,423	0.1%
	Rotork P.L.C.	5,076,151		22,356,136	0.9%
	Royal Mail P.L.C.	1,051,386		6,994,790	0.3%
	RPS Group P.L.C.	1,379,834		4,662,551	0.2%
	Senior P.L.C.	2,564,606		10,253,537	0.4%
*	Serco Group P.L.C.	70,112		91,392	0.0%
	Severfield P.L.C.	1,267,641		1,432,253	0.1%
	SIG P.L.C.	3,729,465		6,847,233	0.3%
	Speedy Hire P.L.C.	2,890,361		2,400,458	0.1%
	Spirax-Sarco Engineering P.L.C.	198,612		17,031,687	0.7%
	Stagecoach Group P.L.C.	2,187,163		4,071,514	0.2%
	Sthree P.L.C.	580,839		2,791,588	0.1%
	T Clarke P.L.C.	147,457		157,299	0.0%
	Travis Perkins P.L.C.	1,220,434		22,869,324	1.0%
	Trifast P.L.C.	479,609		1,560,377	0.1%
#	Tyman P.L.C.	767,211		3,334,658	0.1%
	Ultra Electronics Holdings P.L.C.	434,847		9,460,607	0.4%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
	Vesuvius P.L.C.	1,477,677	$	11,615,921	0.5%
*	Volex P.L.C.	307,047		302,779	0.0%
	Volution Group P.L.C.	256,540		665,372	0.0%
	Vp P.L.C.	159,998		2,175,963	0.1%
	Weir Group P.L.C. (The)	449,075		11,793,716	0.5%
	Wilmington P.L.C.	334,384		1,063,211	0.0%
	Wincanton P.L.C.	708,602		2,428,975	0.1%
*	Wizz Air Holdings P.L.C.	129,496		6,132,393	0.3%
	XP Power, Ltd.	87,624		4,068,060	0.2%
Total Industrials				627,750,176	26.1%
Information Technology — (8.9%)
	Auto Trader Group P.L.C.	5,234,600		29,336,755	1.2%
	AVEVA Group P.L.C.	416,682		14,734,636	0.6%
	Computacenter P.L.C.	408,069		7,774,440	0.3%
	DiscoverIE Group P.L.C.	375,540		2,157,703	0.1%
	Electrocomponents P.L.C.	2,880,341		28,714,885	1.2%
	Equiniti Group P.L.C.	1,581,682		5,133,981	0.2%
	FDM Group Holdings P.L.C.	188,153		2,430,284	0.1%
	Fidessa Group P.L.C.	217,048		11,055,706	0.5%
	Gocompare.Com Group P.L.C.	1,751,211		3,019,482	0.1%
	Halma P.L.C.	919,045		16,548,605	0.7%
	Kainos Group P.L.C.	169,970		896,568	0.0%
	Moneysupermarket.com Group P.L.C.	2,650,925		11,003,953	0.5%
	NCC Group P.L.C.	1,389,618		3,739,206	0.2%
	Oxford Instruments P.L.C.	314,473		4,150,180	0.2%
	Renishaw P.L.C.	226,970		15,822,318	0.7%
	Rightmove P.L.C.	224,417		15,687,294	0.6%
	RM P.L.C.	336,909		991,085	0.0%
	SDL P.L.C.	437,707		2,499,144	0.1%
	Softcat P.L.C.	609,319		6,147,949	0.3%
	Spectris P.L.C.	560,293		19,250,757	0.8%
	Spirent Communications P.L.C.	3,394,920		5,194,411	0.2%
	TT Electronics P.L.C.	914,635		2,929,642	0.1%
	Xaar P.L.C.	386,193		1,215,786	0.1%
	ZPG P.L.C.	1,526,071		9,812,922	0.4%
Total Information Technology				220,247,692	9.2%
Materials — (6.5%)
*	Acacia Mining P.L.C.	900,534		1,487,672	0.1%
*	Carclo P.L.C.	238,794		254,308	0.0%
	Centamin P.L.C.	6,191,392		9,707,699	0.4%
	DS Smith P.L.C.	309,944		2,123,632	0.1%
	Elementis P.L.C.	2,827,931		9,408,321	0.4%
	Essentra P.L.C.	1,552,921		9,831,633	0.4%
	Evraz P.L.C.	1,584,820		10,577,763	0.4%
	Ferrexpo P.L.C.	1,750,724		4,209,650	0.2%
	Forterra P.L.C.	886,556		3,583,743	0.1%
*	Gem Diamonds, Ltd.	679,902		1,088,783	0.0%
	Hill & Smith Holdings P.L.C.	460,382		8,955,639	0.4%
	Hochschild Mining P.L.C.	1,550,805		3,892,926	0.2%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
	Ibstock P.L.C.	2,225,573	$	8,769,578	0.4%
*	KAZ Minerals P.L.C.	1,231,175		13,608,138	0.6%
#*	Lonmin P.L.C.	1,584,135		877,819	0.0%
	Low & Bonar P.L.C.	1,194,255		764,107	0.0%
	Marshalls P.L.C.	1,166,348		6,255,345	0.2%
#*	Petra Diamonds, Ltd.	5,332,777		3,951,920	0.2%
*	Petropavlovsk P.L.C.	13,841,290		1,453,089	0.1%
	RPC Group P.L.C.	2,358,548		23,221,527	1.0%
	Synthomer P.L.C.	1,603,807		11,113,285	0.4%
	Vedanta Resources P.L.C.	464,934		3,945,372	0.2%
	Victrex P.L.C.	570,786		21,852,327	0.9%
	Zotefoams P.L.C.	93,537		647,348	0.0%
Total Materials				161,581,624	6.7%
Real Estate — (2.4%)
	Capital & Counties Properties P.L.C.	4,280,670		16,192,611	0.7%
	CLS Holdings P.L.C.	420,198		1,266,025	0.1%
*	Countrywide P.L.C.	772,337		383,966	0.0%
	Daejan Holdings P.L.C.	42,790		3,311,698	0.1%
	Foxtons Group P.L.C.	1,145,927		857,529	0.0%
	Grainger P.L.C.	2,874,831		11,657,400	0.5%
	Harworth Group P.L.C.	30,680		51,013	0.0%
	Helical P.L.C.	654,139		2,927,140	0.1%
	LSL Property Services P.L.C.	385,663		1,354,204	0.1%
*	Raven Russia, Ltd.	992,414		580,416	0.0%
	Savills P.L.C.	859,723		9,849,752	0.4%
	St. Modwen Properties P.L.C.	1,239,753		6,861,266	0.3%
	U & I Group P.L.C.	818,567		2,484,654	0.1%
	Urban & Civic P.L.C.	100,452		456,998	0.0%
Total Real Estate				58,234,672	2.4%
Telecommunication Services — (1.0%)
	Inmarsat P.L.C.	2,371,810		17,150,940	0.7%
	KCOM Group P.L.C.	3,365,144		4,307,587	0.2%
#	TalkTalk Telecom Group P.L.C.	2,658,372		3,669,914	0.1%
Total Telecommunication Services				25,128,441	1.0%
Utilities — (1.7%)
	Drax Group P.L.C.	2,584,977		11,150,309	0.5%
	Pennon Group P.L.C.	2,384,512		24,937,307	1.0%
	Telecom Plus P.L.C.	340,923		5,053,715	0.2%
Total Utilities				41,141,331	1.7%
TOTAL COMMON STOCKS				2,381,727,661	98.9%
RIGHTS/WARRANTS — (0.1%)
*	ITE Group P.L.C.	2,681,205		845,707	0.1%

The United Kingdom Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
*	Phoenix Group Holdings	1,070,965	$	2,333,252	0.1%
TOTAL RIGHTS/WARRANTS				3,178,959	0.2%
TOTAL INVESTMENT SECURITIES				2,384,906,620
			Value†
SECURITIES LENDING COLLATERAL — (3.6%)
§@	DFA Short Term Investment Fund	7,773,575		89,948,037	3.7%
TOTAL INVESTMENTS — (100.0%) (Cost $2,121,931,552)^^			$	2,474,854,657	102.8%
TOTAL INVESTMENT SECURITIES				—

THE CONTINENTAL SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

June 30, 2018
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (89.8%)
AUSTRIA — (2.8%)
	Agrana Beteiligungs AG	18,567	$	1,909,296	0.0%
	ANDRITZ AG	351,021		18,604,563	0.3%
	Atrium European Real Estate, Ltd.	842,447		3,817,341	0.1%
#	Austria Technologie & Systemtechnik AG	162,266		2,997,308	0.1%
	CA Immobilien Anlagen AG	456,686		15,211,928	0.3%
#	DO & CO AG	44,189		2,616,118	0.1%
	EVN AG	223,351		4,164,359	0.1%
#*	FACC AG	160,236		2,976,152	0.1%
	Flughafen Wien AG	21,758		810,143	0.0%
#	IMMOFINANZ AG	552,079		13,121,779	0.2%
	Josef Manner & Co. AG	870		65,639	0.0%
	Kapsch TrafficCom AG	33,915		1,528,908	0.0%
	Lenzing AG	80,886		9,736,641	0.2%
	Mayr Melnhof Karton AG	50,709		6,838,861	0.1%
	Oberbank AG	44,604		4,584,407	0.1%
	Oesterreichische Post AG	202,551		9,230,698	0.2%
#	Palfinger AG	93,230		3,526,619	0.1%
#	POLYTEC Holding AG	103,266		1,478,484	0.0%
#	Porr AG	69,512		2,337,727	0.0%
	Raiffeisen Bank International AG	227,251		6,962,817	0.1%
#	Rosenbauer International AG	19,459		1,067,255	0.0%
	S IMMO AG	345,038		6,732,626	0.1%
	Schoeller-Bleckmann Oilfield Equipment AG	70,751		8,491,694	0.1%
#*	Semperit AG Holding	68,546		1,271,010	0.0%
	Strabag SE	105,913		4,144,358	0.1%
	Telekom Austria AG	952,927		7,936,742	0.1%
	UBM Development AG	12,744		606,549	0.0%
#	UNIQA Insurance Group AG	884,255		8,123,909	0.1%
	Verbund AG	258,436		8,339,714	0.1%
	Vienna Insurance Group AG Wiener Versicherung Gruppe	219,230		5,963,615	0.1%
	Wienerberger AG	617,965		15,414,315	0.3%
#	Zumtobel Group AG	173,368		1,325,543	0.0%
TOTAL AUSTRIA				181,937,118	3.1%
BELGIUM — (3.8%)
	Ackermans & van Haaren NV	150,650		25,900,831	0.4%
*	AGFA-Gevaert NV	1,218,771		5,108,244	0.1%
#*	Argenx SE	59,756		5,027,626	0.1%
	Atenor	14,161		792,901	0.0%
	Banque Nationale de Belgique	87		276,261	0.0%
	Barco NV	67,758		8,270,229	0.1%
#	Bekaert SA	227,640		7,375,804	0.1%
#*	Biocartis NV	178,269		2,534,550	0.1%
	bpost SA	503,661		7,949,767	0.1%
#*	Celyad SA	42,198		1,247,697	0.0%
	Cie d'Entreprises CFE	48,913		6,046,144	0.1%
#	Cie Immobiliere de Belgique SA	16,692		1,023,848	0.0%
	Co.Br.Ha Societe Commerciale de Brasserie SA	111		623,817	0.0%
	D'ieteren SA	156,145		6,483,262	0.1%
	Deceuninck NV	409,000		1,248,157	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
BELGIUM — (Continued)
	Econocom Group SA	753,960	$	4,144,629	0.1%
	Elia System Operator SA	171,886		10,684,480	0.2%
#	Euronav NV	822,415		7,537,289	0.1%
	EVS Broadcast Equipment SA	75,122		1,720,753	0.0%
#*	Exmar NV	199,925		1,413,382	0.0%
	Fagron	262,019		4,468,518	0.1%
*	Galapagos NV(B07MXC1)	84,250		7,766,682	0.1%
*	Galapagos NV(B07Q2V5)	220,186		20,278,569	0.4%
	Gimv NV	83,859		5,106,458	0.1%
#*	Ion Beam Applications	115,719		3,083,563	0.1%
	Jensen-Group NV	18,696		752,899	0.0%
	Kinepolis Group NV	94,699		5,995,672	0.1%
#	Lotus Bakeries	1,534		4,279,579	0.1%
#*	MDxHealth	228,398		1,025,984	0.0%
	Melexis NV	113,154		10,475,415	0.2%
#*	Nyrstar NV	745,540		3,985,204	0.1%
#	Ontex Group NV	485,473		10,639,996	0.2%
	Orange Belgium SA	179,876		3,031,475	0.1%
	Picanol	28,690		2,957,333	0.1%
	Recticel SA	262,300		2,975,149	0.1%
	Resilux	5,665		942,302	0.0%
*	Roularta Media Group NV	18,421		461,692	0.0%
	Sioen Industries NV	50,085		1,584,869	0.0%
	Sipef SA	34,715		2,413,962	0.1%
	TER Beke SA	3,419		666,496	0.0%
*	Tessenderlo Group SA	213,754		8,322,090	0.1%
*	ThromboGenics NV	221,951		1,825,227	0.0%
	Umicore SA	636,211		36,319,648	0.6%
	Van de Velde NV	35,498		1,288,008	0.0%
*	Viohalco SA	583,796		2,334,150	0.0%
TOTAL BELGIUM				248,390,611	4.2%
DENMARK — (5.1%)
#*	ALK-Abello A.S.	39,582		6,595,627	0.1%
	Alm Brand A.S.	562,935		5,516,972	0.1%
	Ambu A.S. Class B	919,394		30,927,952	0.5%
	Arkil Holding A.S. Class B	504		95,542	0.0%
*	Bang & Olufsen A.S.	256,627		5,553,307	0.1%
	BankNordik P/F	10,800		186,203	0.0%
#*	Bavarian Nordic A.S.	204,295		6,004,879	0.1%
	Brodrene Hartmann A.S.	16,148		945,792	0.0%
#	Columbus A.S.	403,176		959,148	0.0%
#*	D/S Norden A.S.	215,682		3,811,228	0.1%
	DFDS A.S.	306,367		19,500,742	0.3%
	Djurslands Bank A.S.	8,970		332,516	0.0%
	FLSmidth & Co. A.S.	270,276		16,126,352	0.3%
	Fluegger A.S. Class B	4,198		241,147	0.0%
#	GN Store Nord A.S.	927,706		42,151,407	0.7%
	Gronlandsbanken A.S.	1,125		106,048	0.0%
#*	H+H International A.S. Class B	104,835		1,652,552	0.0%
	Harboes Bryggeri A.S. Class B	17,239		231,718	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
DENMARK — (Continued)
#	IC Group A.S.	43,335	$	1,087,404	0.0%
	ISS A.S.	113,324		3,881,567	0.1%
	Jeudan A.S.	7,005		1,082,216	0.0%
	Jyske Bank A.S.	480,586		26,268,780	0.5%
	Lan & Spar Bank	4,981		374,970	0.0%
#	Matas A.S.	232,851		1,887,734	0.0%
*	Nilfisk Holding A.S.	182,797		8,901,016	0.2%
#*	NKT A.S.	206,194		5,617,174	0.1%
#	NNIT A.S.	71,616		1,779,891	0.0%
	Parken Sport & Entertainment A.S.	34,515		429,532	0.0%
	Per Aarsleff Holding A.S.	132,008		4,660,587	0.1%
	Ringkjoebing Landbobank A.S.	151,843		8,487,007	0.2%
	Roblon A.S. Class B	2,700		129,243	0.0%
	Rockwool International A.S. Class A	455		158,990	0.0%
	Rockwool International A.S. Class B	50,421		19,654,396	0.3%
	Royal Unibrew A.S.	282,513		22,450,725	0.4%
	RTX A.S.	47,989		1,434,779	0.0%
*	Santa Fe Group A.S.	127,806		574,295	0.0%
	Scandinavian Tobacco Group A.S. Class A	193,795		2,923,950	0.1%
	Schouw & Co., A.S.	81,456		7,178,154	0.1%
	SimCorp A.S.	244,707		19,764,006	0.3%
	Solar A.S. Class B	37,199		2,319,945	0.0%
	Spar Nord Bank A.S.	517,144		5,527,039	0.1%
	Sydbank A.S.	504,857		17,306,622	0.3%
#	Tivoli A.S.	9,776		1,011,229	0.0%
#*	TK Development A.S.	600,824		646,586	0.0%
	Topdanmark A.S.	491,266		21,454,164	0.4%
	TORM P.L.C.	61,314		481,843	0.0%
	United International Enterprises	10,336		2,386,051	0.1%
*	Vestjysk Bank A.S.	1,501,522		564,212	0.0%
*	Zealand Pharma A.S.	168,265		2,208,247	0.0%
TOTAL DENMARK				333,571,486	5.6%
FINLAND — (6.1%)
#*	Afarak Group Oyj	316,672		373,463	0.0%
#	Ahlstrom-Munksjo Oyj	131,933		2,379,737	0.0%
	Aktia Bank Oyj	276,103		2,637,439	0.1%
	Alandsbanken Abp Class B	21,354		337,793	0.0%
	Alma Media Oyj	128,167		986,900	0.0%
	Amer Sports Oyj	834,004		26,224,519	0.4%
	Apetit Oyj	19,668		306,108	0.0%
	Aspo Oyj	92,762		993,548	0.0%
	Atria Oyj	77,412		938,661	0.0%
#*	BasWare Oyj	56,551		2,371,439	0.0%
#	Bittium Oyj	192,448		1,115,657	0.0%
	Cargotec Oyj Class B	268,259		13,535,401	0.2%
#*	Caverion Oyj	658,056		4,675,092	0.1%
#	Citycon Oyj	2,564,059		5,541,476	0.1%
	Cramo Oyj	233,641		5,421,954	0.1%
	Digia Oyj	69,731		216,465	0.0%
	Elisa Oyj	682,183		31,515,064	0.5%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FINLAND — (Continued)
	F-Secure Oyj	631,341	$	2,765,916	0.1%
	Finnair Oyj	487,004		5,249,878	0.1%
	Fiskars Oyj Abp	204,753		4,633,393	0.1%
	Glaston Oyj Abp	46,084		25,076	0.0%
	HKScan Oyj Class A	257,744		865,666	0.0%
#	Huhtamaki Oyj	686,194		25,304,485	0.4%
	Ilkka-Yhtyma Oyj	61,503		222,708	0.0%
	Kemira Oyj	720,055		9,552,034	0.2%
	Kesko Oyj Class A	40,561		2,304,611	0.0%
	Kesko Oyj Class B	480,249		29,333,082	0.5%
	Konecranes Oyj	430,648		17,671,098	0.3%
	Lassila & Tikanoja Oyj	203,941		3,913,307	0.1%
#	Lehto Group Oyj	125,068		1,446,982	0.0%
	Metsa Board Oyj	1,405,419		15,843,325	0.3%
	Metso Oyj	757,257		25,258,396	0.4%
	Nokian Renkaat Oyj	811,148		31,941,340	0.5%
	Olvi Oyj Class A	89,529		3,311,145	0.1%
	Oriola Oyj Class A	6,054		21,285	0.0%
#	Oriola Oyj Class B	850,962		3,032,027	0.1%
#	Orion Oyj Class A	123,563		3,640,403	0.1%
	Orion Oyj Class B	277,622		7,466,648	0.1%
#	Outokumpu Oyj	2,921,503		18,094,611	0.3%
*	Outotec Oyj	1,238,541		9,820,266	0.2%
#	Pihlajalinna Oyj	75,233		988,726	0.0%
	Ponsse Oyj	69,106		2,423,640	0.0%
#	Poyry Oyj	191,815		1,348,944	0.0%
*	QT Group Oyj	55,899		436,769	0.0%
	Raisio Oyj Class V	714,910		3,030,968	0.1%
	Ramirent Oyj	529,368		5,604,858	0.1%
	Rapala VMC Oyj	109,543		435,933	0.0%
	Raute Oyj Class A	2,644		97,741	0.0%
	Revenio Group Oyj	112,930		2,017,349	0.0%
	Sanoma Oyj	749,458		7,587,086	0.1%
#	SRV Group OYJ	66,041		204,284	0.0%
*	Stockmann Oyj Abp Class A	49,045		226,123	0.0%
#*	Stockmann Oyj Abp Class B	189,838		888,015	0.0%
	Technopolis Oyj	956,192		4,294,205	0.1%
	Teleste Oyj	51,693		433,374	0.0%
	Tieto Oyj	355,339		11,483,565	0.2%
#	Tikkurila Oyj	242,268		4,161,673	0.1%
	Tokmanni Group Corp.	143,180		1,185,595	0.0%
	Uponor Oyj	343,265		5,490,098	0.1%
	Vaisala Oyj Class A	106,683		2,688,685	0.1%
	Valmet Oyj	865,528		16,636,617	0.3%
	Viking Line Abp	10,366		189,593	0.0%
#	YIT Oyj	1,410,604		8,386,080	0.1%
TOTAL FINLAND				401,528,319	6.7%
FRANCE — (11.6%)
	ABC Arbitrage	176,146		1,462,335	0.0%
	Actia Group	51,304		431,368	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FRANCE — (Continued)
#*	Adocia	3,089	$	66,658	0.0%
#*	Air France-KLM	1,087,234		8,885,070	0.2%
	Akka Technologies	51,478		3,672,666	0.1%
	AKWEL	56,783		1,727,968	0.0%
	Albioma SA	157,219		3,542,239	0.1%
	Altamir	136,094		2,627,890	0.1%
	Alten SA	142,403		14,638,422	0.3%
	Altran Technologies SA	1,370,725		19,810,879	0.3%
*	Amplitude Surgical SAS	13,201		48,150	0.0%
	Antalis International SAS	112,860		179,543	0.0%
	April SA	75,049		1,100,110	0.0%
#*	Archos	194,634		212,722	0.0%
	Assystem	62,252		1,978,767	0.0%
	Aubay	31,239		1,303,475	0.0%
	Axway Software SA	38,973		880,542	0.0%
#	Bastide le Confort Medical	16,987		979,107	0.0%
	Beneteau SA	216,231		4,050,700	0.1%
	Bigben Interactive	74,415		1,072,424	0.0%
	BioMerieux	19,243		1,728,951	0.0%
	Boiron SA	38,163		3,236,510	0.1%
	Bonduelle SCA	82,233		2,965,624	0.1%
#*	Bourbon Corp.	141,557		783,767	0.0%
	Burelle SA	890		1,324,591	0.0%
#	Casino Guichard Perrachon SA	254,831		9,862,150	0.2%
	Catering International Services	14,124		308,266	0.0%
*	Cegedim SA	25,022		981,126	0.0%
*	CGG SA	621,000		1,536,193	0.0%
#	Chargeurs SA	110,476		3,290,732	0.1%
	Cie des Alpes	52,327		1,797,756	0.0%
	Cie Plastic Omnium SA	277,334		11,694,707	0.2%
*	Coface SA	519,613		5,761,142	0.1%
	Derichebourg SA	584,687		3,686,888	0.1%
	Devoteam SA	28,114		3,195,607	0.1%
	Dom Security	2,414		194,471	0.0%
#	Edenred	1,196,070		37,779,905	0.6%
	Electricite de Strasbourg SA	21,353		3,064,894	0.1%
	Elior Group SA	578,748		8,341,482	0.2%
#	Elis SA	605,002		13,835,367	0.2%
	Eramet	65,268		8,562,477	0.2%
*	Erytech Pharma SA	681		7,647	0.0%
*	Esso SA Francaise	15,303		860,090	0.0%
*	Etablissements Maurel et Prom	88,449		644,905	0.0%
	Euronext NV	291,850		18,493,850	0.3%
#	Europcar Groupe SA	451,417		4,693,279	0.1%
	Eutelsat Communications SA	845,503		17,497,872	0.3%
	Exel Industries Class A	10,330		1,157,880	0.0%
	Faurecia SA	103,763		7,376,134	0.1%
	Fleury Michon SA	5,962		340,765	0.0%
*	Fnac Darty SA	119,523		11,329,746	0.2%
	Gaumont SA	11,951		2,030,507	0.0%
	Gaztransport Et Technigaz SA	115,771		7,085,697	0.1%
	GEA	2,433		287,124	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FRANCE — (Continued)
	Getlink	1,262,810	$	17,312,945	0.3%
	Gevelot SA	3,466		802,631	0.0%
	GL Events	48,992		1,316,573	0.0%
	Groupe Crit	23,123		2,168,754	0.0%
#	Groupe Gorge	22,858		380,245	0.0%
	Groupe Open	28,806		1,062,431	0.0%
#	Guerbet	32,440		2,169,221	0.0%
	Haulotte Group SA	74,466		1,271,694	0.0%
	HERIGE SADCS	4,147		172,333	0.0%
#*	HiPay Group SA	24,579		420,008	0.0%
#*	ID Logistics Group	10,637		1,721,579	0.0%
	Imerys SA	131,323		10,598,690	0.2%
	Ingenico Group SA	301,300		27,015,835	0.5%
	Interparfums SA	37,784		1,590,808	0.0%
	Ipsen SA	47,538		7,435,370	0.1%
	IPSOS	193,979		6,619,434	0.1%
	Jacquet Metal Service SA	71,359		2,269,803	0.0%
	Kaufman & Broad SA	102,413		4,822,795	0.1%
	Korian SA	267,655		9,022,928	0.2%
	Lagardere SCA	768,346		20,244,589	0.4%
	Lanson-BCC	8,795		330,751	0.0%
	Laurent-Perrier	12,988		1,453,057	0.0%
#	Le Belier	10,566		719,278	0.0%
	Lectra	133,460		3,064,887	0.1%
	Linedata Services	13,363		549,506	0.0%
#	LISI	99,064		3,743,004	0.1%
	LNA Sante SA	29,442		1,853,791	0.0%
	Maisons du Monde SA	134,449		4,944,207	0.1%
	Maisons France Confort SA	15,908		791,707	0.0%
	Manitou BF SA	51,719		1,944,031	0.0%
	Manutan International	14,949		1,292,880	0.0%
	Mersen SA	117,956		4,684,568	0.1%
#*	METabolic EXplorer SA	151,621		393,364	0.0%
	Metropole Television SA	290,250		5,804,940	0.1%
	Mr Bricolage	30,731		509,330	0.0%
*	Naturex	35,471		5,578,117	0.1%
	Neopost SA	196,501		5,278,284	0.1%
#	Nexans SA	185,479		6,373,990	0.1%
	Nexity SA	241,351		15,236,709	0.3%
#*	Nicox	136,752		1,282,196	0.0%
	NRJ Group	78,338		731,294	0.0%
#	Oeneo SA	157,938		1,871,984	0.0%
#*	Onxeo SA(B04P0G6)	246,319		310,820	0.0%
#*	Onxeo SA(BPFJVR0)	48,958		62,619	0.0%
	Orpea	168,108		22,391,655	0.4%
#*	Parrot SA	112,753		741,594	0.0%
#*	Pierre & Vacances SA	29,600		1,014,834	0.0%
#	Plastivaloire	45,387		803,804	0.0%
	PSB Industries SA	8,805		503,622	0.0%
#	Rallye SA	139,003		1,587,130	0.0%
#*	Recylex SA	102,008		1,027,185	0.0%
#	Rexel SA	1,773,993		25,465,863	0.4%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
FRANCE — (Continued)
	Robertet SA	3,908	$	2,295,255	0.0%
	Rothschild & Co.	53,783		1,815,273	0.0%
#	Rubis SCA	579,892		36,146,069	0.6%
	Samse SA	8,068		1,516,810	0.0%
	Sartorius Stedim Biotech	101,854		10,625,669	0.2%
	Savencia SA	33,010		2,890,791	0.1%
	SEB SA	14,562		2,540,571	0.1%
	Seche Environnement SA	13,339		459,964	0.0%
#*	Sequana SA	289,137		155,191	0.0%
*	SES-imagotag SA	4,099		127,268	0.0%
#	Societe BIC SA	130,221		12,072,278	0.2%
*	Societe des Bains de Mer et du Cercle des Etrangers a Monaco	60,258		3,655,277	0.1%
	Societe Marseillaise du Tunnel Prado-Carenage SA	5,211		134,554	0.0%
	Societe pour l'Informatique Industrielle	39,961		1,273,636	0.0%
*	SOITEC	115,317		9,669,918	0.2%
#*	Solocal Group	3,289,445		4,193,214	0.1%
	Somfy SA	104,615		9,704,697	0.2%
	Sopra Steria Group	100,102		20,367,642	0.4%
	SPIE SA	453,235		9,174,001	0.2%
#*	SRP Groupe SA	16,799		142,293	0.0%
*	Stallergenes Greer P.L.C.	17,371		621,828	0.0%
*	Ste Industrielle d'Aviation Latecoere SA	362,344		1,930,571	0.0%
	Stef SA	28,044		3,378,862	0.1%
	Sword Group	35,526		1,471,076	0.0%
	Synergie SA	69,728		3,432,503	0.1%
#	Tarkett SA	121,413		3,491,551	0.1%
#*	Technicolor SA	1,531,532		1,881,723	0.0%
	Teleperformance	144,931		25,579,677	0.4%
	Television Francaise 1	615,411		6,472,663	0.1%
*	Tessi SA	6,874		1,529,819	0.0%
	TFF Group	20,720		978,223	0.0%
#	Thermador Groupe	35,570		2,379,786	0.0%
	Total Gabon	2,515		446,856	0.0%
*	Touax SA	9,530		103,221	0.0%
	Trigano SA	54,068		9,592,194	0.2%
*	Ubisoft Entertainment SA	270,756		29,595,854	0.5%
	Union Financiere de France BQE SA	16,855		540,718	0.0%
#*	Vallourec SA	1,879,147		11,085,093	0.2%
#*	Valneva SE	322,635		1,333,835	0.0%
	Vetoquinol SA	19,343		1,163,129	0.0%
	Vicat SA	97,560		6,396,482	0.1%
	VIEL & Cie SA	162,802		1,018,625	0.0%
	Vilmorin & Cie SA	29,068		1,957,944	0.0%
#*	Virbac SA	22,491		3,064,582	0.1%
	Vranken-Pommery Monopole SA	18,262		487,842	0.0%
*	Worldline SA	41,686		2,356,974	0.0%
TOTAL FRANCE				756,420,806	12.7%
GERMANY — (14.2%)
	1&1 Drillisch AG	106,229		6,025,874	0.1%
	Aareal Bank AG	425,534		18,668,666	0.3%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
	Adler Modemaerkte AG	47,849	$	200,201	0.0%
*	ADLER Real Estate AG	167,752		2,820,596	0.1%
	ADO Properties SA	151,482		8,233,934	0.1%
#*	ADVA Optical Networking SE	321,482		2,287,065	0.0%
#*	AIXTRON SE	549,541		7,072,123	0.1%
	All for One Steeb AG	3,455		257,024	0.0%
	Allgeier SE	37,662		1,208,426	0.0%
	Amadeus Fire AG	31,746		3,428,750	0.1%
*	AS Creation Tapeten	6,666		140,407	0.0%
	Atoss Software AG	1,075		112,483	0.0%
	Aurubis AG	256,792		19,602,024	0.3%
	Axel Springer SE	118,614		8,571,647	0.2%
	Basler AG	9,252		1,784,048	0.0%
	Bauer AG	70,305		1,548,974	0.0%
	BayWa AG(5838057)	84,523		2,857,936	0.1%
	BayWa AG(5838068)	124		4,554	0.0%
	Bechtle AG	198,589		15,264,233	0.3%
	Bertrandt AG	33,261		3,151,265	0.1%
#	bet-at-home.com AG	5,667		430,053	0.0%
	Bijou Brigitte AG	22,004		1,118,207	0.0%
	Bilfinger SE	230,912		11,705,588	0.2%
#	Borussia Dortmund GmbH & Co. KGaA	483,311		3,025,518	0.1%
	CANCOM SE	105,688		10,739,074	0.2%
	Carl Zeiss Meditec AG	172,404		11,763,771	0.2%
#	CECONOMY AG	935,953		7,783,916	0.1%
	CENIT AG	53,174		1,078,904	0.0%
	CENTROTEC Sustainable AG	31,883		491,251	0.0%
	Cewe Stiftung & Co. KGAA	36,973		3,413,640	0.1%
	Comdirect Bank AG	184,745		2,674,216	0.1%
	CompuGroup Medical SE	131,701		6,748,325	0.1%
	Corestate Capital Holding SA	2,676		142,889	0.0%
	CropEnergies AG	118,349		698,096	0.0%
	CTS Eventim AG & Co. KGaA	286,243		14,053,878	0.2%
	Data Modul AG	11,455		871,282	0.0%
*	DEAG Deutsche Entertainment AG	37,071		153,697	0.0%
	Delticom AG	28,981		299,013	0.0%
	Deutsche Beteiligungs AG	86,088		3,408,547	0.1%
	Deutsche EuroShop AG	348,288		12,294,256	0.2%
	Deutsche Pfandbriefbank AG	782,166		10,912,963	0.2%
	Deutz AG	837,417		6,443,000	0.1%
*	Dialog Semiconductor P.L.C.	382,079		5,791,137	0.1%
	DIC Asset AG	340,973		3,819,269	0.1%
	Diebold Nixdorf AG	25,647		1,709,938	0.0%
	DMG Mori AG	15,692		854,733	0.0%
	Dr Hoenle AG	30,164		2,966,321	0.1%
	Draegerwerk AG & Co. KGaA	16,536		986,064	0.0%
	Duerr AG	287,838		13,326,657	0.2%
	Eckert & Ziegler AG	20,039		870,701	0.0%
	EDAG Engineering Group AG	37,317		721,466	0.0%
	Elmos Semiconductor AG	76,464		2,011,967	0.0%
#	ElringKlinger AG	204,148		2,609,124	0.0%
*	Euromicron AG	45,575		357,110	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
	Ferratum Oyj	64,645	$	1,224,862	0.0%
	Fielmann AG	137,771		9,525,518	0.2%
	First Sensor AG	40,649		869,207	0.0%
	Francotyp-Postalia Holding AG Class A	55,619		215,252	0.0%
	Freenet AG	889,655		23,523,977	0.4%
	FRIWO AG	513		16,275	0.0%
	Fuchs Petrolub SE	123,889		5,836,244	0.1%
	Gerresheimer AG	202,263		16,363,870	0.3%
#*	Gerry Weber International AG	132,096		846,958	0.0%
	Gesco AG	55,472		1,738,288	0.0%
	GFT Technologies SE	114,128		1,476,846	0.0%
	Grammer AG	80,206		5,570,434	0.1%
	Grand City Properties SA	160,693		4,166,032	0.1%
	GRENKE AG	81,982		9,346,183	0.2%
	H&R GmbH & Co. KGaA	64,747		769,205	0.0%
	Hamburger Hafen und Logistik AG	140,776		3,045,698	0.1%
#*	Hapag-Lloyd AG	41,885		1,488,950	0.0%
#*	Heidelberger Druckmaschinen AG	1,895,912		5,192,226	0.1%
	Hella GmbH & Co KGaA	160,148		8,942,241	0.2%
	Highlight Communications AG	97,995		618,679	0.0%
#*	HolidayCheck Group AG	173,025		635,275	0.0%
	Hornbach Baumarkt AG	26,738		825,835	0.0%
	Hornbach Holding AG & Co. KGaA	13,278		956,589	0.0%
	Hugo Boss AG	349,836		31,726,273	0.5%
	Indus Holding AG	130,987		8,151,019	0.1%
	Isra Vision AG	102,291		6,251,442	0.1%
	IVU Traffic Technologies AG	42,477		233,518	0.0%
	Jenoptik AG	296,880		11,612,904	0.2%
	K+S AG	1,368,831		33,671,993	0.6%
	Kloeckner & Co. SE	558,224		5,878,891	0.1%
	Koenig & Bauer AG	88,686		6,399,078	0.1%
#	Krones AG	93,610		12,070,375	0.2%
	KSB SE & Co. KGaA	3,466		1,416,412	0.0%
	KWS Saat SE	15,926		5,644,630	0.1%
	Lanxess AG	483,027		37,553,339	0.6%
	LEG Immobilien AG	372,607		40,477,642	0.7%
	Leifheit AG	51,296		1,293,058	0.0%
	Leoni AG	217,226		11,008,809	0.2%
*	LPKF Laser & Electronics AG	73,571		599,821	0.0%
#*	Manz AG	30,184		1,233,886	0.0%
	MasterFlex SE	20,259		203,958	0.0%
	Mediclin AG	88,966		637,522	0.0%
#*	Medigene AG	108,058		1,448,196	0.0%
#	METRO AG	159,657		1,967,586	0.0%
	MLP SE	366,790		2,275,689	0.0%
	Nemetschek SE	134,002		16,061,021	0.3%
	Nexus AG	74,298		2,386,003	0.0%
*	Nordex SE	309,455		3,130,186	0.1%
	Norma Group SE	219,545		15,000,059	0.3%
	OHB SE	34,003		1,108,627	0.0%
	OSRAM Licht AG	210,842		8,586,506	0.2%
	paragon AG	14,660		859,598	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
	Patrizia Immobilien AG	331,436	$	6,377,816	0.1%
*	Petro Welt Technologies AG	12,774		90,207	0.0%
	Pfeiffer Vacuum Technology AG	52,225		8,587,691	0.2%
	PNE AG	479,106		1,271,283	0.0%
	Progress-Werk Oberkirch AG	8,558		397,780	0.0%
	PSI Software AG	42,038		784,578	0.0%
	Puma SE	11,101		6,485,290	0.1%
*	PVA TePla AG	41,388		816,513	0.0%
*	QIAGEN NV	440,441		15,965,619	0.3%
	QSC AG	609,371		996,977	0.0%
*	R Stahl AG	14,952		483,099	0.0%
	Rational AG	14,963		9,744,036	0.2%
	Rheinmetall AG	272,395		29,969,536	0.5%
	RHOEN-KLINIKUM AG	233,180		6,800,169	0.1%
#	RIB Software SE	215,756		4,999,185	0.1%
*	Rocket Internet SE	219,631		7,027,567	0.1%
	S&T AG	302,174		7,741,628	0.1%
#	SAF-Holland SA	358,025		5,381,424	0.1%
	Salzgitter AG	269,278		11,715,742	0.2%
#*	Schaltbau Holding AG	34,605		1,020,024	0.0%
	Schloss Wachenheim AG	7,479		169,559	0.0%
	Scout24 AG	78,536		4,156,839	0.1%
	Secunet Security Networks AG	5,281		765,103	0.0%
*	Senvion SA	13,360		143,218	0.0%
*	SGL Carbon SE	79,972		856,250	0.0%
*	Shop Apotheke Europe NV	4,486		232,514	0.0%
	SHW AG	25,624		1,048,044	0.0%
	Siltronic AG	144,288		20,503,459	0.4%
	Sixt Leasing SE	57,785		1,169,126	0.0%
	Sixt SE	81,811		9,146,239	0.2%
#	SMA Solar Technology AG	85,104		3,508,900	0.1%
*	SMT Scharf AG	22,263		395,660	0.0%
	Softing AG	26,963		241,279	0.0%
	Software AG	325,372		15,122,392	0.3%
	Stabilus SA	140,064		12,582,376	0.2%
	STRATEC Biomedical AG	13,204		1,030,430	0.0%
	Stroeer SE & Co. KGaA	162,002		9,780,844	0.2%
	Suedzucker AG	464,190		7,378,222	0.1%
#*	SUESS MicroTec SE	136,244		2,042,292	0.0%
	Surteco SE	45,548		1,334,892	0.0%
	TAG Immobilien AG	934,395		20,549,917	0.4%
	Takkt AG	187,573		3,422,926	0.1%
	Technotrans AG	37,276		1,619,409	0.0%
*	Tele Columbus AG	225,894		1,563,106	0.0%
	TLG Immobilien AG	507,827		13,526,255	0.2%
*	Tom Tailor Holding SE	214,000		1,752,914	0.0%
	Traffic Systems SE	35,075		701,583	0.0%
	Uniper SE	312,671		9,309,098	0.2%
#	VERBIO Vereinigte BioEnergie AG	127,536		799,072	0.0%
	Vossloh AG	68,437		3,331,571	0.1%
	VTG AG	89,468		5,056,447	0.1%
#	Wacker Chemie AG	47,794		6,246,727	0.1%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
GERMANY — (Continued)
	Wacker Neuson SE	196,118	$	4,968,558	0.1%
	Washtec AG	63,112		5,563,539	0.1%
	Wuestenrot & Wuerttembergische AG	106,695		2,185,139	0.0%
	XING SE	18,138		5,841,268	0.1%
	Zeal Network SE	45,365		1,414,046	0.0%
TOTAL GERMANY				927,712,863	15.6%
IRELAND — (1.2%)
	C&C Group P.L.C.(B010DT8)	399,607		1,492,700	0.0%
	C&C Group P.L.C.(B011Y09)	1,085,694		4,104,286	0.1%
	Datalex P.L.C.	91,110		279,808	0.0%
	FBD Holdings P.L.C.	125,459		1,568,036	0.0%
	Glanbia P.L.C.(0066950)	700,613		13,025,699	0.2%
	Glanbia P.L.C.(4058629)	214,971		3,987,766	0.1%
	IFG Group P.L.C.	302,015		525,767	0.0%
*	Independent News & Media P.L.C.	1,939,277		223,434	0.0%
	Irish Continental Group P.L.C.(BLP5857)	485,129		2,871,955	0.1%
	Irish Continental Group P.L.C.(BLP59W1)	234,200		1,417,849	0.0%
	Kingspan Group P.L.C.	661,167		33,049,478	0.6%
*	Permanent TSB Group Holdings P.L.C.	81,931		190,373	0.0%
	Smurfit Kappa Group P.L.C.	448,337		18,099,897	0.3%
TOTAL IRELAND				80,837,048	1.4%
ISRAEL — (2.3%)
	Adgar Investment and Development, Ltd.	6,982		11,378	0.0%
*	ADO Group, Ltd.	88,940		1,782,479	0.0%
	Afcon Holdings, Ltd.	764		30,316	0.0%
*	Africa Israel Properties, Ltd.	87,475		1,985,882	0.0%
	Africa Israel Residences, Ltd.	2,237		39,133	0.0%
#*	Airport City, Ltd.	421,822		4,679,959	0.1%
	Albaad Massuot Yitzhak, Ltd.	2,660		32,124	0.0%
*	Allot Communications, Ltd.	166,831		884,329	0.0%
#	Alony Hetz Properties & Investments, Ltd.	358,343		3,296,592	0.1%
	Alrov Properties and Lodgings, Ltd.	48,457		1,516,592	0.0%
#	Amot Investments, Ltd.	661,733		3,314,548	0.1%
	Arad, Ltd.	12,517		119,097	0.0%
#*	Arko Holdings, Ltd.	1,414,663		775,117	0.0%
#	Ashtrom Group, Ltd.	51,269		181,832	0.0%
#	Ashtrom Properties, Ltd.	190,899		837,658	0.0%
*	AudioCodes, Ltd.	165,181		1,280,111	0.0%
	Avgol Industries 1953, Ltd.	468,925		485,107	0.0%
*	Azorim-Investment Development & Construction Co., Ltd.	434,861		397,826	0.0%
	Bayside Land Corp.	4,685		2,015,841	0.1%
	Big Shopping Centers, Ltd.	27,978		1,893,723	0.0%
#*	BioLine RX, Ltd.	96,617		85,224	0.0%
	Blue Square Real Estate, Ltd.	34,455		1,184,333	0.0%
*	Bonus Biogroup, Ltd.	682,771		113,917	0.0%
#*	Brack Capital Properties NV	16,139		1,763,418	0.0%
	Camtek, Ltd.	42,648		317,467	0.0%
#	Carasso Motors, Ltd.	104,212		573,804	0.0%
#*	Cellcom Israel, Ltd.	310,154		1,769,709	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ISRAEL — (Continued)
	Ceragon Networks, Ltd.	266,244	$	950,491	0.0%
*	Clal Biotechnology Industries, Ltd.	291,561		263,672	0.0%
*	Clal Insurance Enterprises Holdings, Ltd.	123,888		1,731,635	0.0%
	Cohen Development & Industrial Buildings, Ltd.	3,184		60,924	0.0%
#*	Compugen, Ltd.	188,351		620,326	0.0%
	Danel Adir Yeoshua, Ltd.	15,444		684,737	0.0%
#	Delek Automotive Systems, Ltd.	204,232		1,119,900	0.0%
#	Delek Group, Ltd.	9,430		1,284,119	0.0%
	Delta-Galil Industries, Ltd.	72,570		2,104,881	0.1%
	Dexia Israel Bank Ltd.	739		133,264	0.0%
#	Direct Insurance Financial Investments, Ltd.	111,017		1,235,152	0.0%
	Dor Alon Energy in Israel 1988, Ltd.	6,249		73,839	0.0%
#	El Al Israel Airlines	1,852,806		395,462	0.0%
	Electra Consumer Products 1970, Ltd.	51,141		595,164	0.0%
	Electra, Ltd.	10,539		2,619,343	0.1%
#*	Elron Electronic Industries, Ltd.	92,425		381,089	0.0%
*	Energix-Renewable Energies, Ltd.	721,686		753,308	0.0%
#*	Enlight Renewable Energy, Ltd.	2,163,770		1,104,408	0.0%
*	Evogene, Ltd.	79,189		225,036	0.0%
	First International Bank Of Israel, Ltd.	233,290		4,878,006	0.1%
	FMS Enterprises Migun, Ltd.	18,743		506,743	0.0%
#*	Foresight Autonomous Holdings, Ltd.	172,589		119,705	0.0%
	Formula Systems 1985, Ltd.	55,841		2,024,784	0.1%
#	Fox Wizel, Ltd.	47,419		980,319	0.0%
*	Gilat Satellite Networks, Ltd.	206,464		1,914,418	0.0%
	Hadera Paper, Ltd.	17,612		1,276,558	0.0%
	Ham-Let Israel-Canada, Ltd.	30,413		783,257	0.0%
	Harel Insurance Investments & Financial Services, Ltd.	664,618		4,990,489	0.1%
#	Hilan, Ltd.	70,607		1,552,368	0.0%
	IDI Insurance Co., Ltd.	35,576		2,135,626	0.1%
#*	Industrial Buildings Corp., Ltd.	674,414		861,221	0.0%
#	Inrom Construction Industries, Ltd.	298,882		1,120,128	0.0%
*	Intec Pharma, Ltd.	32,530		139,156	0.0%
	Israel Discount Bank, Ltd. Class A	2,392,516		6,990,277	0.1%
*	Israel Land Development Co., Ltd. (The)	29,765		281,804	0.0%
	Isras Investment Co., Ltd.	4,476		490,829	0.0%
	Issta Lines, Ltd.	10,616		195,786	0.0%
*	Jerusalem Oil Exploration	52,362		2,657,970	0.1%
*	Kamada, Ltd.	177,993		917,452	0.0%
	Kenon Holdings, Ltd.	61,421		934,340	0.0%
	Kerur Holdings, Ltd.	28,592		746,583	0.0%
	Klil Industries, Ltd.	5,219		454,571	0.0%
	Maabarot Products, Ltd.	22,937		241,646	0.0%
	Magic Software Enterprises, Ltd.	112,480		930,396	0.0%
	Matrix IT, Ltd.	217,883		2,321,332	0.1%
#	Maytronics, Ltd.	204,288		1,098,364	0.0%
#*	Mazor Robotics, Ltd.	230,878		6,380,124	0.1%
#	Mediterranean Towers, Ltd.	291,699		527,301	0.0%
	Mega Or Holdings, Ltd.	66,008		740,651	0.0%
	Meitav Dash Investments, Ltd.	99,974		293,813	0.0%
#	Melisron, Ltd.	73,901		3,070,007	0.1%
	Menora Mivtachim Holdings, Ltd.	153,843		1,654,426	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ISRAEL — (Continued)
#*	Migdal Insurance & Financial Holding, Ltd.	2,192,100	$	1,895,232	0.0%
	Minrav Holdings, Ltd.	263		29,126	0.0%
#	Mivtach Shamir Holdings, Ltd.	23,078		423,178	0.0%
#	Naphtha Israel Petroleum Corp., Ltd.	205,306		1,203,446	0.0%
#	Nawi Brothers, Ltd.	89,344		448,775	0.0%
	Neto ME Holdings, Ltd.	8,982		729,757	0.0%
*	Nova Measuring Instruments, Ltd.	154,998		4,242,777	0.1%
*	NR Spuntech Industries, Ltd.	47,269		152,709	0.0%
	Oil Refineries, Ltd.	7,729,020		3,253,222	0.1%
*	Partner Communications Co., Ltd.	672,023		2,516,744	0.1%
#	Paz Oil Co., Ltd.	35,919		4,717,306	0.1%
*	Perion Network, Ltd.	16,455		19,171	0.0%
	Phoenix Holdings, Ltd. (The)	424,366		2,221,795	0.1%
	Plasson Industries, Ltd.	20,285		863,478	0.0%
	Rami Levy Chain Stores Hashikma Marketing 2006, Ltd.	41,166		1,997,807	0.1%
*	Redhill Biopharma, Ltd.	274,937		225,396	0.0%
#	Scope Metals Group, Ltd.	37,589		1,014,963	0.0%
	Shapir Engineering and Industry, Ltd.	428,921		1,250,434	0.0%
#	Shikun & Binui, Ltd.	1,180,819		2,089,935	0.1%
	Shufersal, Ltd.	479,823		2,951,157	0.1%
*	SodaStream International, Ltd.	10,211		860,518	0.0%
*	Space Communication, Ltd.	17,611		58,786	0.0%
	Strauss Group, Ltd.	141,919		2,859,630	0.1%
	Summit Real Estate Holdings, Ltd.	170,795		1,448,816	0.0%
#*	Suny Cellular Communication, Ltd.	473,129		259,249	0.0%
#	Tadiran Holdings, Ltd.	14,981		365,273	0.0%
*	Tower Semiconductor, Ltd.	315,502		7,038,424	0.1%
*	Union Bank of Israel	199,952		862,161	0.0%
TOTAL ISRAEL				147,913,981	2.5%
ITALY — (10.1%)
#*	A.S. Roma SpA	476,776		247,003	0.0%
	A2A SpA	10,770,004		18,642,131	0.3%
	ACEA SpA	351,411		5,214,457	0.1%
#*	Aeffe SpA	227,820		683,953	0.0%
	Aeroporto Guglielmo Marconi Di Bologna SpA	23,410		415,948	0.0%
	Amplifon SpA	565,931		11,701,764	0.2%
	Anima Holding SpA	1,449,962		7,749,664	0.1%
*	Ansaldo STS SpA	496,314		7,110,535	0.1%
*	Arnoldo Mondadori Editore SpA	883,435		1,343,793	0.0%
	Ascopiave SpA	476,568		1,663,015	0.0%
#	Astaldi SpA	376,038		876,073	0.0%
	Autogrill SpA	738,453		9,121,045	0.2%
	Autostrade Meridionali SpA	3,917		123,679	0.0%
	Avio SpA	27,352		464,269	0.0%
#	Azimut Holding SpA	728,393		11,224,815	0.2%
#	B&C Speakers SpA	18,289		274,050	0.0%
#*	Banca Carige SpA	148,414,098		1,417,568	0.0%
	Banca Farmafactoring SpA	81,910		478,959	0.0%
	Banca Finnat Euramerica SpA	616,149		265,210	0.0%
	Banca Generali SpA	339,615		8,429,396	0.2%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ITALY — (Continued)
	Banca IFIS SpA	143,766	$	4,312,041	0.1%
#	Banca Mediolanum SpA	1,481,287		10,005,881	0.2%
#*	Banca Monte dei Paschi di Siena SpA	190,753		548,865	0.0%
	Banca Popolare di Sondrio SCPA	3,094,953		12,413,728	0.2%
#	Banca Profilo SpA	1,814,636		417,151	0.0%
#	Banca Sistema SpA	331,868		783,336	0.0%
#*	Banco BPM SpA	9,509,050		27,622,864	0.5%
#	Banco di Desio e della Brianza SpA	238,796		597,842	0.0%
	BasicNet SpA	203,594		897,683	0.0%
#	BE	564,587		591,512	0.0%
	Biesse SpA	88,272		3,434,177	0.1%
#	BPER Banca	3,576,937		19,516,960	0.3%
#	Brembo SpA	958,192		12,922,912	0.2%
	Brunello Cucinelli SpA	197,949		8,814,397	0.2%
#	Buzzi Unicem SpA	534,924		13,069,823	0.2%
#	Cairo Communication SpA	476,255		1,900,884	0.0%
*	Caltagirone Editore SpA	6,277		9,453	0.0%
#	Carraro SpA	162,374		494,875	0.0%
	Cembre SpA	37,981		1,171,815	0.0%
	Cementir Holding SpA	334,012		2,637,839	0.1%
	Cerved Group SpA	1,212,485		12,985,926	0.2%
	CIR-Compagnie Industriali Riunite SpA	2,358,417		2,883,583	0.1%
	Credito Emiliano SpA	539,951		3,996,562	0.1%
*	Credito Valtellinese SpA	45,885,728		5,162,788	0.1%
#*	d'Amico International Shipping SA	1,350,290		282,020	0.0%
	Danieli & C Officine Meccaniche SpA	87,902		2,181,394	0.0%
	Datalogic SpA	118,736		4,377,281	0.1%
	De' Longhi SpA	307,259		8,688,573	0.2%
	DeA Capital SpA	727,037		1,086,043	0.0%
	DiaSorin SpA	147,449		16,756,789	0.3%
#	Digital Bros SpA	27,500		296,045	0.0%
	Ei Towers SpA	110,814		6,127,638	0.1%
	El.En. SpA	19,391		631,550	0.0%
#*	Elica SpA	76,131		191,722	0.0%
	Emak SpA	283,893		402,379	0.0%
	Enav SpA	1,343,446		6,720,986	0.1%
#	ePrice SpA	99,656		176,876	0.0%
	ERG SpA	413,405		9,016,945	0.2%
#	Esprinet SpA	208,274		939,942	0.0%
#*	Eurotech SpA	208,524		714,397	0.0%
#*	Exprivia SpA	109,673		162,211	0.0%
	Falck Renewables SpA	890,272		2,144,046	0.0%
#	Fila SpA	111,342		2,277,004	0.1%
*	Fincantieri SpA	3,681,190		4,999,996	0.1%
	FinecoBank Banca Fineco SpA	2,381,184		26,805,119	0.5%
	FNM SpA	1,049,730		725,838	0.0%
#*	GEDI Gruppo Editoriale SpA	927,122		352,872	0.0%
#	Gefran SpA	37,987		334,225	0.0%
#	Geox SpA	589,288		1,661,255	0.0%
#	Gruppo MutuiOnline SpA	132,302		2,199,483	0.0%
#	Hera SpA	5,298,805		16,487,741	0.3%
	IMA Industria Macchine Automatiche SpA	99,474		8,631,482	0.2%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ITALY — (Continued)
#*	IMMSI SpA	1,274,433	$	704,753	0.0%
	Infrastrutture Wireless Italiane SpA	880,602		6,775,702	0.1%
#*	Intek Group SpA	1,988,417		824,494	0.0%
	Interpump Group SpA	423,082		13,115,555	0.2%
	Iren SpA	4,067,812		10,379,039	0.2%
	Italgas SpA	3,243,188		17,850,296	0.3%
	Italmobiliare SpA	42,747		1,046,971	0.0%
	IVS Group SA	54,474		736,195	0.0%
#*	Juventus Football Club SpA	2,763,968		2,123,005	0.0%
	La Doria SpA	68,280		840,385	0.0%
#	Leonardo SpA	718,294		7,069,724	0.1%
#	Maire Tecnimont SpA	848,364		3,796,499	0.1%
	MARR SpA	209,901		5,521,989	0.1%
	Massimo Zanetti Beverage Group SpA	65,668		553,592	0.0%
#*	Mediaset SpA	4,201,139		13,395,554	0.2%
	Moncler SpA	473,723		21,495,183	0.4%
#*	Mondo TV SpA	89,356		389,471	0.0%
	Nice SpA	161,881		615,909	0.0%
*	Openjobmetis SpA agenzia per il lavoro	61,558		689,498	0.0%
	OVS SpA	977,759		3,183,934	0.1%
#	Panariagroup Industrie Ceramiche SpA	73,107		219,998	0.0%
	Parmalat SpA	697,227		2,352,639	0.1%
	Piaggio & C SpA	1,124,262		2,810,432	0.1%
#	Prima Industrie SpA	32,468		1,383,753	0.0%
	Prysmian SpA	1,279,327		31,743,685	0.5%
	RAI Way SpA	430,586		2,015,254	0.0%
	Reno de Medici SpA	1,246,787		1,390,960	0.0%
	Reply SpA	115,704		7,846,216	0.1%
#	Retelit SpA	919,007		1,734,422	0.0%
#*	Rizzoli Corriere Della Sera Mediagroup SpA	747,835		943,121	0.0%
	Sabaf SpA	45,959		917,391	0.0%
	SAES Getters SpA	44,991		1,147,201	0.0%
#*	Safilo Group SpA	213,120		1,113,990	0.0%
#*	Saipem SpA	4,014,553		18,411,414	0.3%
#	Salini Impregilo SpA	1,282,257		3,330,452	0.1%
	Salvatore Ferragamo SpA	288,245		7,011,162	0.1%
	Saras SpA	3,522,294		8,513,119	0.2%
	Servizi Italia SpA	62,874		336,483	0.0%
	Sesa SpA	43,956		1,440,322	0.0%
*	Snaitech SpA	538,898		1,379,836	0.0%
	Societa Cattolica di Assicurazioni SC	1,153,283		9,598,430	0.2%
	Societa Iniziative Autostradali e Servizi SpA	505,756		7,587,281	0.1%
*	Sogefi SpA	323,297		970,741	0.0%
#	SOL SpA	169,140		2,065,709	0.0%
#	Tamburi Investment Partners SpA	569,680		3,907,969	0.1%
	Technogym SpA	649,966		7,671,060	0.1%
	Tecnoinvestimenti SpA	62,137		399,986	0.0%
#*	Tiscali SpA	9,160,788		241,271	0.0%
#	Tod's SpA	73,658		4,581,928	0.1%
#*	Trevi Finanziaria Industriale SpA	509,518		177,815	0.0%
#	Unione di Banche Italiane SpA	7,603,883		29,125,153	0.5%
#	Unipol Gruppo SpA	2,932,632		11,299,773	0.2%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
ITALY — (Continued)
#	UnipolSai Assicurazioni SpA	4,993,275	$	11,011,858	0.2%
	Vittoria Assicurazioni SpA	147,138		2,395,207	0.1%
	Zignago Vetro SpA	163,712		1,524,109	0.0%
TOTAL ITALY				659,719,964	11.1%
NETHERLANDS — (6.0%)
	Aalberts Industries NV	694,740		33,188,052	0.6%
#	Accell Group	154,132		3,291,033	0.1%
	AFC Ajax NV	18,134		266,760	0.0%
#	AMG Advanced Metallurgical Group NV	179,772		10,053,317	0.2%
#	Amsterdam Commodities NV	108,352		2,964,610	0.1%
	APERAM SA	390,560		16,740,457	0.3%
#	Arcadis NV	500,739		8,998,253	0.2%
	ASM International NV	346,018		19,066,528	0.3%
	ASR Nederland NV	313,276		12,756,876	0.2%
*	Basic-Fit NV	71,961		2,421,992	0.0%
	BE Semiconductor Industries NV	538,009		14,477,736	0.2%
#	Beter Bed Holding NV	131,483		1,060,163	0.0%
#	BinckBank NV	440,223		2,489,324	0.0%
#	Boskalis Westminster	654,419		19,017,060	0.3%
	Brunel International NV	150,988		2,550,007	0.0%
#	Corbion NV	398,317		12,677,323	0.2%
	Flow Traders	186,445		7,252,327	0.1%
	ForFarmers NV	146,682		1,903,981	0.0%
#*	Fugro NV	595,518		8,626,276	0.2%
*	Gemalto NV(B9MS8P5)	306,999		17,840,260	0.3%
*	Gemalto NV(B011JK4)	231,595		13,474,150	0.2%
	GrandVision NV	246,284		5,522,317	0.1%
*	Heijmans NV	161,687		2,124,619	0.0%
	Hunter Douglas NV	23,741		1,742,549	0.0%
	IMCD NV	248,605		16,624,810	0.3%
	Intertrust NV	356,653		6,324,990	0.1%
	KAS Bank NV	98,504		1,122,114	0.0%
	Kendrion NV	103,449		4,220,914	0.1%
#	Koninklijke BAM Groep NV	2,091,579		8,768,445	0.2%
	Koninklijke Vopak NV	453,570		20,905,912	0.4%
*	Lucas Bols NV	19,668		394,575	0.0%
	Nederland Apparatenfabriek	33,455		1,776,524	0.0%
#*	OCI NV	521,247		13,997,304	0.2%
	Ordina NV	859,201		1,913,845	0.0%
	PostNL NV	3,035,348		11,374,855	0.2%
	SBM Offshore NV	1,265,052		19,615,017	0.3%
#	SIF Holding NV	24,515		479,291	0.0%
#	Signify NV	673,333		17,420,158	0.3%
	Sligro Food Group NV	164,297		8,607,083	0.1%
#*	Takeaway.com NV	48,546		3,240,906	0.1%
	TKH Group NV	258,617		16,374,432	0.3%
*	TomTom NV	971,261		8,762,931	0.2%
	Van Lanschot Kempen NV	70,374		1,987,448	0.0%
	Wessanen	484,021		10,154,065	0.2%
TOTAL NETHERLANDS				394,571,589	6.6%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
NORWAY — (2.3%)
	ABG Sundal Collier Holding ASA	2,122,363	$	1,555,175	0.0%
	AF Gruppen ASA	34,522		557,682	0.0%
#*	Akastor ASA	1,070,994		2,347,864	0.1%
*	Aker Solutions ASA	906,658		6,321,168	0.1%
	American Shipping Co. ASA	266,740		963,697	0.0%
*	Archer, Ltd.	605,831		793,451	0.0%
	Arendals Fossekompani A.S.	90		40,456	0.0%
	Atea ASA	418,786		6,030,939	0.1%
	Austevoll Seafood ASA	452,355		5,426,599	0.1%
#*	Avance Gas Holding, Ltd.	358,569		894,249	0.0%
#*	Axactor AB	701,217		2,087,442	0.0%
#	B2Holding ASA	288,877		601,901	0.0%
	Bakkafrost P/F	102,514		5,681,314	0.1%
	Bonheur ASA	140,320		1,897,490	0.0%
	Borregaard ASA	558,264		6,019,233	0.1%
#*	BW LPG, Ltd.	507,174		2,018,729	0.0%
#*	BW Offshore, Ltd.	845,823		4,316,310	0.1%
	Data Respons ASA	4,563		15,086	0.0%
*	DNO ASA	3,940,467		7,253,837	0.1%
*	DOF ASA	643,426		660,318	0.0%
	Ekornes ASA	129,482		2,187,016	0.0%
	Entra ASA	59,049		804,788	0.0%
	Europris ASA	552,561		1,649,957	0.0%
*	FLEX LNG, Ltd.	394,938		596,182	0.0%
#*	Fred Olsen Energy ASA	247,595		275,378	0.0%
#	Frontline, Ltd.	493,983		2,863,855	0.1%
#*	Funcom NV	415,377		999,945	0.0%
	Grieg Seafood ASA	283,304		2,978,690	0.1%
#	Hexagon Composites ASA	465,579		1,571,968	0.0%
#	Hoegh LNG Holdings, Ltd.	277,724		1,534,694	0.0%
*	Kongsberg Automotive ASA	2,171,519		2,489,180	0.1%
	Kongsberg Gruppen ASA	46,352		985,466	0.0%
*	Kvaerner ASA	1,605,790		3,381,092	0.1%
#*	NEL ASA	3,765,869		1,464,960	0.0%
#*	Next Biometrics Group A.S.	24,877		109,347	0.0%
#*	Nordic Nanovector ASA	197,914		1,468,509	0.0%
#*	Nordic Semiconductor ASA	703,953		4,484,351	0.1%
	Norway Royal Salmon ASA	74,885		1,671,548	0.0%
#*	Norwegian Air Shuttle ASA	163,644		4,994,787	0.1%
*	Norwegian Finans Holding ASA	79,427		879,314	0.0%
	Norwegian Property ASA	805,865		1,066,288	0.0%
	Ocean Yield ASA	276,975		2,413,176	0.1%
*	Odfjell Drilling, Ltd.	423,986		1,752,216	0.0%
	Odfjell SE Class A	134,257		552,996	0.0%
	Olav Thon Eiendomsselskap ASA	92,065		1,688,275	0.0%
*	Otello Corp. ASA	596,226		1,577,170	0.0%
*	Panoro Energy ASA	100,966		172,384	0.0%
#*	Petroleum Geo-Services ASA	1,859,599		8,687,613	0.2%
#*	PhotoCure ASA	96,828		372,242	0.0%
#*	Prosafe SE	220,951		505,760	0.0%
#*	Protector Forsikring ASA	366,464		2,982,148	0.1%
*	Q-Free ASA	179,836		177,074	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
NORWAY — (Continued)
#*	REC Silicon ASA	15,379,458	$	1,724,397	0.0%
	Sbanken ASA	288,595		3,032,222	0.1%
	Scatec Solar ASA	421,599		2,843,446	0.1%
	Selvaag Bolig ASA	256,708		1,317,148	0.0%
	Sevan Marine ASA	124,800		218,436	0.0%
	Solon Eiendom ASA	41,279		153,484	0.0%
*	Solstad Farstad ASA	560,216		460,619	0.0%
	SpareBank 1 SR-Bank ASA	48,387		512,209	0.0%
	Spectrum ASA	87,736		667,946	0.0%
	Stolt-Nielsen, Ltd.	153,521		2,386,998	0.1%
	TGS NOPEC Geophysical Co. ASA	41,529		1,525,151	0.0%
#*	Thin Film Electronics ASA	1,235,650		237,443	0.0%
	Tomra Systems ASA	498,548		10,450,935	0.2%
	Treasure ASA	306,583		489,381	0.0%
#	Veidekke ASA	464,633		4,663,706	0.1%
#*	Wallenius Wilhelmsen Logistics	101,766		474,368	0.0%
	Wilh Wilhelmsen Holding ASA Class A	68,304		1,710,652	0.0%
#	XXL ASA	462,058		3,735,088	0.1%
TOTAL NORWAY				151,424,938	2.5%
PORTUGAL — (1.1%)
	Altri SGPS SA	589,558		5,941,306	0.1%
*	Banco Comercial Portugues SA Class R	67,440,721		20,166,824	0.3%
#	CTT-Correios de Portugal SA	983,146		3,443,891	0.1%
	EDP Renovaveis SA	50,245		523,688	0.0%
	Ibersol SGPS SA	30,601		427,057	0.0%
	Mota-Engil SGPS SA	850,092		2,837,198	0.0%
	Navigator Co. SA (The)	1,987,069		11,798,968	0.2%
	NOS SGPS SA	1,723,171		9,425,308	0.2%
	Novabase SGPS SA	72,649		230,084	0.0%
#	REN - Redes Energeticas Nacionais SGPS SA	2,398,576		6,710,201	0.1%
	Semapa-Sociedade de Investimento e Gestao	166,967		4,461,263	0.1%
	Sonae Capital SGPS SA	789,547		831,608	0.0%
	Sonae SGPS SA	5,942,646		7,130,508	0.1%
	Teixeira Duarte SA	797,539		233,841	0.0%
TOTAL PORTUGAL				74,161,745	1.2%
SPAIN — (5.8%)
#	Acciona SA	206,462		17,042,422	0.3%
	Acerinox SA	1,212,822		16,025,449	0.3%
#*	Adveo Group International SA	104,096		174,678	0.0%
	Alantra Partners SA	44,015		799,947	0.0%
	Almirall SA	472,247		6,311,801	0.1%
#*	Amper SA	6,227,113		2,155,726	0.0%
	Applus Services SA	862,128		11,490,280	0.2%
#	Atresmedia Corp. de Medios de Comunicacion SA	609,294		5,111,122	0.1%
	Azkoyen SA	67,253		658,656	0.0%
*	Baron de Ley	13,441		1,803,936	0.0%
	Bolsas y Mercados Espanoles SHMSF SA	461,801		15,227,836	0.2%
#	Cellnex Telecom SA	909,420		22,864,152	0.4%
	Cia de Distribucion Integral Logista Holdings SA	298,306		7,698,807	0.1%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SPAIN — (Continued)
	Cie Automotive SA	371,168	$	10,921,883	0.2%
	Construcciones y Auxiliar de Ferrocarriles SA	109,863		5,257,714	0.1%
#*	Deoleo SA	2,088,552		447,268	0.0%
	Distribuidora Internacional de Alimentacion SA	3,849,981		11,183,950	0.2%
#*	Duro Felguera SA	489,623		164,825	0.0%
#	Ebro Foods SA	485,858		11,325,194	0.2%
*	eDreams ODIGEO SA	405,710		1,647,040	0.0%
	Elecnor SA	200,108		2,973,008	0.0%
#	Enagas SA	1,198,599		34,958,624	0.6%
	Ence Energia y Celulosa SA	1,118,132		9,883,315	0.2%
	Ercros SA	815,730		4,230,010	0.1%
	Euskaltel SA	475,181		4,296,787	0.1%
	Faes Farma SA	1,846,280		7,806,703	0.1%
	Fluidra SA	305,244		4,877,143	0.1%
#*	Fomento de Construcciones y Contratas SA	280,110		3,521,672	0.1%
#*	Global Dominion Access SA	556,430		3,003,890	0.1%
	Grupo Catalana Occidente SA	240,875		10,709,285	0.2%
#*	Grupo Empresarial San Jose SA	129,616		591,204	0.0%
#*	Grupo Ezentis SA	1,354,101		1,153,836	0.0%
	Iberpapel Gestion SA	45,010		1,899,911	0.0%
*	Indra Sistemas SA	864,616		10,313,900	0.2%
	Inmobiliaria del Sur SA	2,902		45,064	0.0%
#	Laboratorios Farmaceuticos Rovi SA	70,000		1,283,150	0.0%
*	Liberbank SA	10,171,105		5,196,081	0.1%
	Mediaset Espana Comunicacion SA	1,104,946		9,287,862	0.2%
	Melia Hotels International SA	750,422		10,264,766	0.2%
	Miquel y Costas & Miquel SA	90,253		3,390,877	0.1%
#	NH Hotel Group SA	1,501,179		11,078,176	0.2%
#	Obrascon Huarte Lain SA	926,681		2,955,980	0.0%
	Papeles y Cartones de Europa SA	320,535		6,336,147	0.1%
	Parques Reunidos Servicios Centrales SAU	37,609		603,311	0.0%
#*	Pharma Mar SA	1,078,930		1,914,083	0.0%
	Prim SA	39,424		580,398	0.0%
#*	Promotora de Informaciones SA Class A	1,879,166		3,526,719	0.1%
	Prosegur Cia de Seguridad SA	1,713,380		11,161,378	0.2%
#*	Quabit Inmobiliaria SA	799,193		1,795,644	0.0%
*	Realia Business SA	1,376,419		1,716,133	0.0%
#	Sacyr SA	2,898,931		7,903,186	0.1%
#*	Solaria Energia y Medio Ambiente SA	340,345		2,669,805	0.0%
	Talgo SA	527,275		3,154,282	0.1%
#	Tecnicas Reunidas SA	226,367		7,274,047	0.1%
*	Telepizza Group SA	110,355		745,035	0.0%
#*	Tubacex SA	801,831		2,660,072	0.0%
#*	Tubos Reunidos SA	785,848		288,542	0.0%
	Vidrala SA	98,630		9,384,973	0.2%
	Viscofan SA	261,752		17,806,380	0.3%
*	Vocento SA	352,577		570,514	0.0%
	Zardoya Otis SA	1,080,214		10,300,582	0.2%
TOTAL SPAIN				382,425,161	6.4%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWEDEN — (6.8%)
#	AAK AB	692,442	$	10,989,114	0.2%
*	AcadeMedia AB	134,931		729,836	0.0%
	Acando AB	901,661		3,147,968	0.1%
	AddLife AB	66,570		1,405,351	0.0%
	AddNode Group AB	47,530		473,039	0.0%
	AddTech AB Class B	310,371		6,843,174	0.1%
	AF AB Class B	554,411		12,657,898	0.2%
	Ahlsell AB	524,782		3,088,986	0.1%
#	Alimak Group AB	211,019		3,225,771	0.1%
#*	Anoto Group AB	313,692		132,380	0.0%
*	Arise AB	36,861		60,671	0.0%
	Atrium Ljungberg AB Class B	160,940		2,593,178	0.1%
	Attendo AB	414,611		3,661,029	0.1%
#	Avanza Bank Holding AB	133,985		6,858,221	0.1%
*	BE Group AB	27,710		155,041	0.0%
	Beijer Alma AB	261,452		3,613,739	0.1%
#*	Beijer Electronics Group AB	80,992		360,553	0.0%
	Beijer Ref AB	246,015		4,446,308	0.1%
	Bergman & Beving AB	177,709		1,877,038	0.0%
#	Besqab AB	21,962		249,467	0.0%
#	Betsson AB	710,050		4,303,991	0.1%
	Bilia AB Class A	628,332		4,894,383	0.1%
#	BillerudKorsnas AB	120,069		1,692,500	0.0%
	BioGaia AB Class B	102,797		4,576,367	0.1%
#*	BioInvent International AB	248,706		52,779	0.0%
	Biotage AB	269,681		3,442,218	0.1%
	Bjorn Borg AB	99,769		252,881	0.0%
	Bonava AB	12,135		146,865	0.0%
	Bonava AB Class B	414,459		4,854,674	0.1%
	Bravida Holding AB	383,312		3,038,697	0.1%
	Bufab AB	200,674		2,528,870	0.1%
#	Bulten AB	113,966		1,322,434	0.0%
	Bure Equity AB	361,889		4,073,630	0.1%
#	Byggmax Group AB	372,728		1,620,110	0.0%
	Capio AB	445,773		2,129,992	0.0%
#	Catena AB	115,832		2,259,109	0.0%
#	Cavotec SA	66,402		174,171	0.0%
#	Clas Ohlson AB Class B	213,059		1,690,185	0.0%
	Cloetta AB Class B	1,509,438		4,568,564	0.1%
#*	CLX Communications AB	37,741		321,656	0.0%
#*	Collector AB	121,241		817,694	0.0%
	Com Hem Holding AB	807,301		13,096,682	0.2%
	Concentric AB	370,121		6,339,324	0.1%
*	Concordia Maritime AB Class B	100,760		115,305	0.0%
	Coor Service Management Holding AB	200,080		1,396,416	0.0%
	Corem Property Group AB Class B	163,626		170,601	0.0%
#*	D Carnegie & Co. AB	44,039		713,736	0.0%
#	Dedicare AB Class B	20,550		144,792	0.0%
	Dios Fastigheter AB	771,784		4,619,133	0.1%
	Dometic Group AB	250,551		2,452,189	0.1%
#*	Doro AB	155,569		730,749	0.0%
	Duni AB	215,861		3,087,792	0.1%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWEDEN — (Continued)
#	Dustin Group AB	225,889	$	2,034,027	0.0%
	Eastnine AB	109,780		1,147,416	0.0%
#	Elanders AB Class B	53,806		400,395	0.0%
#*	Eltel AB	192,132		482,476	0.0%
#*	Enea AB	83,607		837,441	0.0%
#	eWork Group AB	28,929		287,222	0.0%
	Fabege AB	1,079,959		12,844,915	0.2%
#	Fagerhult AB	207,289		1,768,866	0.0%
	Fenix Outdoor International AG	15,827		1,921,881	0.0%
#*	Fingerprint Cards AB Class B	634,700		484,834	0.0%
	Getinge AB Class B	257,688		2,339,299	0.0%
	Granges AB	536,918		7,006,111	0.1%
#	Gunnebo AB	212,245		630,632	0.0%
	Haldex AB	221,039		2,199,640	0.0%
	Heba Fastighets AB Class B	49,167		600,308	0.0%
	Hemfosa Fastigheter AB	945,285		11,041,258	0.2%
	HIQ International AB	254,760		1,759,405	0.0%
#	HMS Networks AB	64,765		1,105,179	0.0%
#	Hoist Finance AB	335,790		2,454,213	0.1%
	Holmen AB	372,103		8,428,081	0.2%
	Indutrade AB	420,756		10,013,796	0.2%
	Inwido AB	344,615		2,462,195	0.1%
#	ITAB Shop Concept AB Class B	121,363		479,748	0.0%
	JM AB	381,548		6,795,362	0.1%
	KappAhl AB	458,925		1,644,309	0.0%
#	Karo Pharma AB	873,132		2,869,656	0.1%
	Kindred Group P.L.C.	1,114,667		13,964,282	0.2%
	Klovern AB Class B	3,701,460		4,095,215	0.1%
	KNOW IT AB	135,788		2,601,553	0.1%
#	Kungsleden AB	1,116,586		7,685,687	0.1%
	Lagercrantz Group AB Class B	360,259		3,916,923	0.1%
	Lifco AB Class B	53,458		1,898,952	0.0%
	Lindab International AB	517,119		3,780,424	0.1%
	Loomis AB Class B	357,907		12,399,766	0.2%
#*	Medivir AB Class B	169,635		622,235	0.0%
#	Mekonomen AB	150,926		2,077,459	0.0%
	Modern Times Group MTG AB Class B	254,009		10,599,572	0.2%
*	Momentum Group AB Class B	177,211		2,181,846	0.0%
#	MQ Holding AB	212,980		337,458	0.0%
#	Mycronic AB	464,036		5,171,757	0.1%
	NCC AB Class B	411,433		6,822,165	0.1%
	Nederman Holding AB	24,590		275,386	0.0%
#*	Net Insight AB Class B	1,047,191		492,023	0.0%
	NetEnt AB	939,633		4,990,974	0.1%
	New Wave Group AB Class B	378,457		2,216,358	0.0%
	Nobia AB	740,155		5,683,130	0.1%
	Nobina AB	569,897		4,345,687	0.1%
	Nolato AB Class B	171,585		13,806,773	0.2%
	Nordic Waterproofing Holding A.S.	33,142		304,930	0.0%
#	NP3 Fastigheter AB	136,060		851,620	0.0%
#	OEM International AB Class B	46,319		935,041	0.0%
#	Opus Group AB	1,440,504		1,039,627	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWEDEN — (Continued)
	Oriflame Holding AG	237,287	$	7,619,407	0.1%
	Pandox AB	142,822		2,421,299	0.1%
	Peab AB	1,103,094		8,294,819	0.1%
	Platzer Fastigheter Holding AB Class B	131,875		858,824	0.0%
#	Pricer AB Class B	832,220		815,821	0.0%
	Proact IT Group AB	50,363		943,334	0.0%
#*	Qliro Group AB	795,678		1,178,487	0.0%
*	Radisson Hospitality AB	168,090		538,280	0.0%
#	Ratos AB Class B	1,481,561		4,937,411	0.1%
*	RaySearch Laboratories AB	129,144		1,510,628	0.0%
#*	Recipharm AB Class B	271,551		4,051,156	0.1%
	Resurs Holding AB	286,468		1,836,758	0.0%
#	Rottneros AB	641,827		850,442	0.0%
	Sagax AB Class B	154,039		1,906,346	0.0%
#*	SAS AB	960,970		1,835,673	0.0%
	Scandi Standard AB	300,075		1,914,905	0.0%
	Scandic Hotels Group AB	383,526		3,299,809	0.1%
	Sectra AB Class B	81,468		2,151,875	0.0%
	Semcon AB	110,174		697,871	0.0%
#*	Sensys Gatso Group AB	3,866,489		540,924	0.0%
	SkiStar AB	146,905		3,055,531	0.1%
	Sweco AB Class B	325,168		7,655,412	0.1%
#	Systemair AB	84,050		833,635	0.0%
	Thule Group AB	527,575		13,076,942	0.2%
#*	Tobii AB	73,407		327,251	0.0%
	Troax Group AB	30,192		971,347	0.0%
	VBG Group AB Class B	26,108		411,815	0.0%
#	Victoria Park AB Class B	681,163		2,883,679	0.1%
	Vitrolife AB	358,640		5,238,609	0.1%
	Wallenstam AB Class B	977,095		8,765,242	0.2%
	Wihlborgs Fastigheter AB	854,808		9,868,065	0.2%
TOTAL SWEDEN				446,624,356	7.5%
SWITZERLAND — (10.5%)
*	Allreal Holding AG	87,899		14,322,780	0.2%
*	Alpiq Holding AG	9,337		707,273	0.0%
	ALSO Holding AG	32,627		3,895,477	0.1%
	ams AG	297,956		22,096,450	0.4%
#	APG SGA SA	7,848		2,938,337	0.1%
#*	Arbonia AG	265,025		4,356,287	0.1%
#*	Aryzta AG	543,826		8,134,512	0.1%
	Ascom Holding AG	208,330		3,769,297	0.1%
#	Autoneum Holding AG	19,943		4,655,444	0.1%
#	Bachem Holding AG Class B	23,995		3,162,981	0.1%
	Bank Cler AG	30,941		1,628,155	0.0%
	Banque Cantonale de Geneve	8,818		1,654,227	0.0%
	Banque Cantonale du Jura SA	4,442		253,571	0.0%
	Banque Cantonale Vaudoise	11,753		9,033,850	0.2%
	Belimo Holding AG	2,488		10,816,847	0.2%
	Bell Food Group AG	9,765		3,124,544	0.1%
	Bellevue Group AG	55,759		1,298,516	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWITZERLAND — (Continued)
#	Berner Kantonalbank AG	25,472	$	4,687,296	0.1%
	BFW Liegenschaften AG	2,894		124,737	0.0%
	BKW AG	89,837		5,798,483	0.1%
	Bobst Group SA	55,474		5,672,048	0.1%
	Bossard Holding AG Class A	36,212		6,712,926	0.1%
	Bucher Industries AG	46,421		15,484,579	0.3%
#	Burckhardt Compression Holding AG	20,063		7,117,139	0.1%
#	Burkhalter Holding AG	20,988		1,774,386	0.0%
	Calida Holding AG	28,379		1,027,453	0.0%
	Carlo Gavazzi Holding AG	2,093		699,099	0.0%
	Cembra Money Bank AG	184,764		14,471,666	0.2%
	Cham Group AG	2,187		960,954	0.0%
	Cicor Technologies, Ltd.	14,249		998,800	0.0%
	Cie Financiere Tradition SA	10,069		1,062,815	0.0%
	Coltene Holding AG	20,595		2,110,704	0.0%
	Conzzeta AG	8,497		9,773,029	0.2%
	Daetwyler Holding AG	44,920		8,618,484	0.1%
	DKSH Holding AG	179,969		12,652,470	0.2%
	dormakaba Holding AG	16,814		11,745,880	0.2%
*	Dottikon Es Holding AG	143		97,785	0.0%
	EFG International AG	538,864		4,022,407	0.1%
	Emmi AG	13,431		11,426,724	0.2%
	Energiedienst Holding AG	73,327		2,164,138	0.0%
#*	Evolva Holding SA	3,037,793		714,328	0.0%
#	Feintool International Holding AG	13,181		1,413,087	0.0%
	Flughafen Zurich AG	52,318		10,644,884	0.2%
	Forbo Holding AG	6,853		10,212,234	0.2%
	GAM Holding AG	1,257,924		17,297,460	0.3%
	Georg Fischer AG	26,277		33,555,294	0.6%
#	Gurit Holding AG	2,373		1,927,380	0.0%
	Helvetia Holding AG	49,892		28,462,775	0.5%
	Hiag Immobilien Holding AG	11,551		1,396,421	0.0%
#	HOCHDORF Holding AG	6,839		1,936,831	0.0%
#	Huber & Suhner AG	73,903		4,493,742	0.1%
	Hypothekarbank Lenzburg AG	6		27,522	0.0%
*	Idorsia, Ltd.	16,556		436,845	0.0%
	Implenia AG	101,315		7,704,367	0.1%
	Inficon Holding AG	9,931		5,048,027	0.1%
	Interroll Holding AG	3,944		6,918,469	0.1%
	Intershop Holding AG	9,285		4,730,085	0.1%
	Investis Holding SA	839		50,523	0.0%
	Jungfraubahn Holding AG	7,959		1,179,910	0.0%
	Kardex AG	39,134		5,415,226	0.1%
#	Komax Holding AG	23,246		6,121,400	0.1%
#	Kudelski SA	197,997		1,849,128	0.0%
#*	Lastminute.com NV	20,887		277,662	0.0%
	LEM Holding SA	3,773		5,620,545	0.1%
	Liechtensteinische Landesbank AG	42,928		2,639,149	0.0%
	Logitech International SA	419,824		18,392,864	0.3%
	Luzerner Kantonalbank AG	18,034		9,375,686	0.2%
*	MCH Group AG	6,075		302,209	0.0%
#	Meier Tobler Group AG	22,913		689,234	0.0%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
SWITZERLAND — (Continued)
	Metall Zug AG Class B	918	$	2,908,159	0.1%
#*	Meyer Burger Technology AG	248,064		233,418	0.0%
#	Mobilezone Holding AG	205,530		2,075,985	0.0%
	Mobimo Holding AG	38,782		9,577,119	0.2%
*	Newron Pharmaceuticals SpA	10,375		123,836	0.0%
	OC Oerlikon Corp. AG	1,297,574		19,768,187	0.3%
*	Orascom Development Holding AG	94,045		1,403,701	0.0%
#	Orell Fuessli Holding AG	5,028		553,805	0.0%
	Orior AG	34,849		3,000,631	0.1%
#	Panalpina Welttransport Holding AG	61,671		8,395,213	0.1%
	Phoenix Mecano AG	4,024		2,686,438	0.1%
	Plazza AG Class A	6,678		1,531,295	0.0%
	PSP Swiss Property AG	268,010		24,846,148	0.4%
	Rieter Holding AG	18,515		3,190,373	0.1%
	Romande Energie Holding SA	2,625		3,134,780	0.1%
#	Schaffner Holding AG	3,238		1,061,073	0.0%
*	Schmolz + Bickenbach AG	3,211,657		2,522,372	0.0%
	Schweiter Technologies AG	6,013		6,259,282	0.1%
	SFS Group AG	93,300		9,839,372	0.2%
	Siegfried Holding AG	25,183		10,066,983	0.2%
	St Galler Kantonalbank AG	12,721		6,611,594	0.1%
#	Sulzer AG	106,641		12,917,073	0.2%
	Sunrise Communications Group AG	234,853		19,083,027	0.3%
	Swiss Prime Site AG	50,505		4,640,380	0.1%
	Swissquote Group Holding SA	60,743		3,362,252	0.1%
	Tamedia AG	15,124		2,290,115	0.0%
	Tecan Group AG	55,658		13,507,309	0.2%
	Temenos AG	80,963		12,175,746	0.2%
	Thurgauer Kantonalbank	3,152		329,167	0.0%
*	Tornos Holding AG	17,058		192,856	0.0%
#	u-blox Holding AG	40,953		8,114,765	0.1%
	Valiant Holding AG	106,613		12,051,670	0.2%
	Valora Holding AG	22,093		7,212,806	0.1%
	VAT Group AG	152,229		20,269,769	0.3%
	Vaudoise Assurances Holding SA	6,067		3,159,545	0.1%
	Vetropack Holding AG	1,223		2,469,097	0.0%
#*	Von Roll Holding AG	339,643		411,973	0.0%
	Vontobel Holding AG	170,100		12,336,686	0.2%
	VP Bank AG	17,294		3,290,274	0.1%
	VZ Holding AG	14,277		4,487,381	0.1%
	Walliser Kantonalbank	18,866		2,203,044	0.0%
#	Ypsomed Holding AG	20,183		2,935,563	0.1%
	Zehnder Group AG	66,561		2,755,978	0.1%
#	Zug Estates Holding AG Class B	1,074		1,865,354	0.0%
	Zuger Kantonalbank AG	681		4,050,857	0.1%
TOTAL SWITZERLAND				689,788,288	11.6%
UNITED KINGDOM — (0.1%)
	Rhi Magnesita NV	82,370		4,947,835	0.1%
TOTAL COMMON STOCKS				5,881,976,108	98.8%

The Continental Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
PREFERRED STOCKS — (0.7%)
GERMANY — (0.7%)
	Biotest AG	89,937	$	2,597,496	0.0%
	Draegerwerk AG & Co. KGaA	42,348		3,031,591	0.1%
	Fuchs Petrolub SE	115,116		5,664,441	0.1%
	Jungheinrich AG	258,252		9,546,871	0.2%
	Sartorius AG	87,562		13,035,455	0.2%
	Sixt SE	93,948		7,356,171	0.1%
	STO SE & Co. KGaA	11,592		1,490,853	0.0%
	Villeroy & Boch AG	49,088		962,642	0.0%
TOTAL GERMANY				43,685,520	0.7%
TOTAL PREFERRED STOCKS				43,685,520	0.7%
RIGHTS/WARRANTS — (0.0%)
AUSTRIA — (0.0%)
*	Intercell AG Rights 05/16/13	254,689		—	0.0%
ISRAEL — (0.0%)
*	Space Communication, Ltd.(BZ2YQP1)	—		—	0.0%
*	Space Communication, Ltd.(BZ2YQR3)	1,490		321	0.0%
*	Space Communication, Ltd.(BZ2YQS4)	—		—	0.0%
TOTAL ISRAEL				321	0.0%
ITALY — (0.0%)
*	Caltagirone Editore SpA	6,277		—	0.0%
NORWAY — (0.0%)
*	Odfjell Drilling, Ltd. 07/04/18	27,640		—	0.0%
SPAIN — (0.0%)
#*	Sacyr SA Rights	2,898,931		165,545	0.0%
TOTAL RIGHTS/WARRANTS				165,866	0.0%
TOTAL INVESTMENT SECURITIES				5,925,827,494
			Value†
SECURITIES LENDING COLLATERAL — (9.5%)
§@	DFA Short Term Investment Fund	54,021,587		625,083,779	10.5%
TOTAL INVESTMENTS — (100.0%) (Cost $5,242,732,007)^^			$	6,550,911,273	110.0%
TOTAL INVESTMENT SECURITIES				—

THE CANADIAN SMALL COMPANY

SERIES SCHEDULE OF INVESTMENTS

June 30, 2018
(Unaudited)

					Percentage
		Shares	Value††		of Net Assets**
COMMON STOCKS — (82.0%)
Consumer Discretionary — (6.6%)
#	Aimia, Inc.	923,817	$	1,630,286	0.1%
*	Aritzia, Inc.	197,880		2,348,099	0.2%
	AutoCanada, Inc.	178,738		2,312,656	0.2%
	BMTC Group, Inc.	20,581		230,130	0.0%
#	Cineplex, Inc.	293,783		6,520,814	0.5%
	Cogeco Communications, Inc.	68,586		3,397,346	0.3%
	Cogeco, Inc.	39,668		1,753,702	0.1%
#	Corus Entertainment, Inc. Class B	729,712		2,753,107	0.2%
#	DHX Media, Ltd.	854,435		1,774,318	0.2%
	Dorel Industries, Inc. Class B	194,280		3,295,511	0.3%
#	Enercare, Inc.	658,759		9,009,612	0.7%
	Gamehost, Inc.	65,373		592,740	0.1%
*	Glacier Media, Inc.	171,625		98,564	0.0%
*	Great Canadian Gaming Corp.	354,538		12,553,717	1.0%
#	Hudson's Bay Co.	538,586		4,801,451	0.4%
*	Indigo Books & Music, Inc.	11,252		145,502	0.0%
*	Intertain Group, Ltd. (The)	60,134		785,381	0.1%
	Leon's Furniture, Ltd.	146,675		2,014,947	0.2%
	Linamar Corp.	75,100		3,302,423	0.3%
	Martinrea International, Inc.	564,348		6,052,795	0.5%
	MTY Food Group, Inc.	111,734		4,281,001	0.4%
	Park Lawn Corp.	9,600		177,812	0.0%
#	Pizza Pizza Royalty Corp.	171,912		1,601,888	0.1%
	Pollard Banknote, Ltd.	14,400		235,938	0.0%
	Recipe Unlimited Corp.	102,477		2,219,237	0.2%
	Reitmans Canada, Ltd. Class A	263,612		822,127	0.1%
	Sleep Country Canada Holdings, Inc.	230,448		5,709,270	0.5%
*	Stars Group, Inc. (The)	292,985		10,626,041	0.9%
	Torstar Corp. Class B	393,289		388,906	0.0%
*	TVA Group, Inc. Class B	7,000		18,050	0.0%
#	Uni-Select, Inc.	258,031		4,104,080	0.3%
#*	Yellow Pages, Ltd.	220,225		1,512,670	0.1%
	Zenith Capital Corp.	111,820		6,890	0.0%
Total Consumer Discretionary				97,077,011	8.0%
Consumer Staples — (3.7%)
#	AGT Food & Ingredients, Inc.	151,923		1,770,403	0.2%
#	Alcanna, Inc.	226,411		1,574,105	0.1%
#	Andrew Peller, Ltd. Class A	110,000		1,426,615	0.1%
#	Clearwater Seafoods, Inc.	103,395		397,960	0.0%
	Corby Spirit and Wine, Ltd.	73,867		1,161,959	0.1%
	Cott Corp.(2228941)	96,682		1,600,087	0.1%
	Cott Corp.(2228952)	886,570		14,687,936	1.2%
	High Liner Foods, Inc.	130,291		1,007,918	0.1%
	KP Tissue, Inc.	18,000		141,711	0.0%
	Lassonde Industries, Inc. Class A	9,500		2,023,280	0.2%
	Maple Leaf Foods, Inc.	120,000		3,034,115	0.3%
	Metro, Inc.	1,346		45,750	0.0%
*	Neptune Technologies & Bioressources, Inc.	54,324		168,594	0.0%
#	North West Co., Inc. (The)	329,536		7,349,481	0.6%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Consumer Staples — (Continued)
	Premium Brands Holdings Corp.	154,576	$	13,319,415	1.1%
#	Rogers Sugar, Inc.	575,336		2,319,462	0.2%
#*	SunOpta, Inc.	379,450		3,203,815	0.3%
	Ten Peaks Coffee Co., Inc.	1,800		8,366	0.0%
Total Consumer Staples				55,240,972	4.6%
Energy — (18.4%)
*	Advantage Oil & Gas, Ltd.	1,154,775		3,610,182	0.3%
#*	Africa Oil Corp.	1,284,299		1,152,758	0.1%
#	AKITA Drilling, Ltd. Class A	40,600		171,090	0.0%
#*	Athabasca Oil Corp.	3,197,876		4,378,486	0.4%
#*	Baytex Energy Corp.	1,675,106		5,568,184	0.5%
#*	Bellatrix Exploration, Ltd.	325,319		326,643	0.0%
#	Birchcliff Energy, Ltd.	1,400,829		5,135,965	0.4%
#*	BlackPearl Resources, Inc.	1,624,601		1,804,220	0.1%
#	Bonavista Energy Corp.	1,499,841		1,699,892	0.1%
#	Bonterra Energy Corp.	163,918		2,129,631	0.2%
#*	Calfrac Well Services, Ltd.	874,615		3,712,282	0.3%
#*	Canacol Energy, Ltd.	921,342		2,985,521	0.2%
#	Cardinal Energy, Ltd.	697,561		2,934,249	0.2%
#	CES Energy Solutions Corp.	1,317,997		4,501,431	0.4%
#*	Chinook Energy, Inc.	133,656		20,333	0.0%
*	Crew Energy, Inc.	1,228,076		1,877,635	0.2%
#*	Delphi Energy Corp.	1,076,339		720,479	0.1%
#*	Denison Mines Corp.	3,418,235		1,664,071	0.1%
	Enerflex, Ltd.	574,158		6,175,480	0.5%
#*	Energy Fuels, Inc.	434,690		985,339	0.1%
#	Enerplus Corp.	1,482,999		18,703,171	1.5%
#	Ensign Energy Services, Inc.	914,927		4,085,210	0.3%
*	Epsilon Energy, Ltd.	312,073		664,667	0.1%
#*	Essential Energy Services Trust	1,034,741		448,638	0.0%
#*	Fission Uranium Corp.	1,925,000		981,060	0.1%
#	Freehold Royalties, Ltd.	552,172		5,208,179	0.4%
#*	Frontera Energy Corp.	133,880		1,948,142	0.2%
*	GASFRAC Energy Services, Inc.	91,560		1	0.0%
*	Gear Energy, Ltd.	838,400		860,944	0.1%
#	Gibson Energy, Inc.	618,501		8,247,307	0.7%
*	Gran Tierra Energy, Inc.	2,881,425		9,972,604	0.8%
#	Granite Oil Corp.	226,808		524,471	0.0%
#	High Arctic Energy Services, Inc.	81,000		235,363	0.0%
#*	Iron Bridge Resources, Inc.	1,197,822		683,350	0.1%
#*	Kelt Exploration, Ltd.	1,174,340		7,976,919	0.7%
*	MEG Energy Corp.	1,516,583		12,643,479	1.0%
#	Mullen Group, Ltd.	670,527		7,900,554	0.7%
#*	Newalta Corp.	579,398		555,312	0.0%
	North American Construction Group, Ltd.	164,634		970,535	0.1%
*	NuVista Energy, Ltd.	1,310,626		9,092,085	0.8%
#*	Obsidian Energy, Ltd.	3,864,779		4,380,269	0.4%
#*	Painted Pony Energy, Ltd.	636,361		1,103,642	0.1%
#*	Paramount Resources, Ltd. Class A	499,113		5,653,060	0.5%
*	Parex Resources, Inc.	923,902		17,442,854	1.4%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Energy — (Continued)
#	Parkland Fuel Corp.	448,025	$	11,007,650	0.9%
#	Pason Systems, Inc.	429,341		7,028,044	0.6%
#*	Pengrowth Energy Corp.	3,272,369		2,339,807	0.2%
#*	Petrus Resources, Ltd.	19,582		15,044	0.0%
#	Peyto Exploration & Development Corp.	501,965		3,864,059	0.3%
*	PHX Energy Services Corp.	285,274		462,202	0.0%
#*	Pine Cliff Energy, Ltd.	496,700		134,126	0.0%
#*	Precision Drilling Corp.	1,986,826		6,574,140	0.5%
#	Pulse Seismic, Inc.	308,039		627,958	0.1%
#*	Questerre Energy Corp. Class A	797,460		333,627	0.0%
*	Raging River Exploration, Inc.	1,337,443		5,798,826	0.5%
#	Secure Energy Services, Inc.	1,100,716		6,078,575	0.5%
	ShawCor, Ltd.	366,775		7,119,840	0.6%
*	Source Energy Services, Ltd.	12,300		46,500	0.0%
*	STEP Energy Services, Ltd.	25,400		212,142	0.0%
*	Strad Energy Services, Ltd.	19,447		22,928	0.0%
#	Surge Energy, Inc.	1,946,656		3,524,163	0.3%
*	Tamarack Valley Energy, Ltd.	1,058,949		3,713,349	0.3%
	Tidewater Midstream and Infrastructure, Ltd.	221,000		208,451	0.0%
	TORC Oil & Gas, Ltd.	973,412		5,434,788	0.4%
	Total Energy Services, Inc.	276,579		2,444,644	0.2%
*	TransGlobe Energy Corp.	516,845		1,431,039	0.1%
#*	Trican Well Service, Ltd.	2,020,540		4,595,455	0.4%
#*	Trinidad Drilling, Ltd.	1,734,484		2,467,185	0.2%
#	Vermilion Energy, Inc.	152,576		5,502,333	0.5%
#*	Western Energy Services Corp.	573,097		466,446	0.0%
#	Whitecap Resources, Inc.	1,531,014		10,376,400	0.9%
*	Xtreme Drilling Corp.	108,261		175,405	0.0%
*	Yangarra Resources, Ltd.	514,771		2,169,270	0.2%
#	ZCL Composites, Inc.	176,127		1,158,862	0.1%
	Computer Modelling Group, Ltd.	483,483		3,714,432	0.3%
Total Energy				270,883,377	22.3%
Financials — (6.8%)
#	goeasy, Ltd.	62,339		1,909,077	0.2%
	AGF Management, Ltd. Class B	487,635		2,581,630	0.2%
#	Alaris Royalty Corp.	284,445		3,448,867	0.3%
#	Callidus Capital Corp.	82,720		342,923	0.0%
	Canaccord Genuity Group, Inc.	842,465		4,652,414	0.4%
#	Canadian Western Bank	618,680		16,306,440	1.3%
#	Chesswood Group, Ltd.	79,442		656,251	0.1%
	Clairvest Group, Inc.	1,900		68,830	0.0%
	E-L Financial Corp., Ltd.	5,878		3,666,300	0.3%
#*	Echelon Financial Holdings, Inc.	14,650		133,055	0.0%
	ECN Capital Corp.	2,243,908		6,025,174	0.5%
#	Element Fleet Management Corp.	522,800		2,457,615	0.2%
#	Equitable Group, Inc.	76,324		3,457,846	0.3%
	Fiera Capital Corp.	267,337		2,393,456	0.2%
	Firm Capital Mortgage Investment Corp.	160,918		1,613,281	0.1%
#	First National Financial Corp.	100,937		2,189,726	0.2%
#	Genworth MI Canada, Inc.	313,480		10,200,947	0.8%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Financials — (Continued)
#	Gluskin Sheff + Associates, Inc.	215,296	$	2,689,051	0.2%
	GMP Capital, Inc.	363,187		792,870	0.1%
	Guardian Capital Group, Ltd. Class A	68,714		1,203,730	0.1%
#*	Home Capital Group, Inc.	476,446		5,439,816	0.5%
*	Kingsway Financial Services, Inc.	13,070		35,692	0.0%
#	Laurentian Bank of Canada	268,259		9,153,842	0.8%
#	Sprott, Inc.	1,478,288		3,418,396	0.3%
#*	Street Capital Group, Inc.	120,227		77,734	0.0%
	Timbercreek Financial Corp.	409,409		2,846,384	0.2%
	TMX Group, Ltd.	180,578		11,837,532	1.0%
*	Trisura Group, Ltd.	23,111		467,793	0.0%
Total Financials				100,066,672	8.3%
Health Care — (1.3%)
#*	CRH Medical Corp.	470,396		1,470,602	0.1%
#	Extendicare, Inc.	577,071		3,182,417	0.2%
*	Knight Therapeutics, Inc.	733,325		4,490,371	0.4%
#	Medical Facilities Corp.	188,969		2,008,061	0.2%
*	MedReleaf Corp.	115,500		2,371,236	0.2%
#	Sienna Senior Living, Inc.	312,115		3,936,308	0.3%
#*	Theratechnologies, Inc.	217,701		2,099,759	0.2%
Total Health Care				19,558,754	1.6%
Industrials — (10.0%)
	Aecon Group, Inc.	432,401		5,084,942	0.4%
#	Ag Growth International, Inc.	103,058		4,339,779	0.4%
	Algoma Central Corp.	39,390		444,042	0.0%
*	ATS Automation Tooling Systems, Inc.	526,630		7,827,445	0.6%
#	Badger Daylighting, Ltd.	238,081		5,735,386	0.5%
#	Bird Construction, Inc.	308,144		1,701,689	0.1%
	Black Diamond Group, Ltd.	335,792		909,306	0.1%
	Calian Group, Ltd.	31,555		750,081	0.1%
	CanWel Building Materials Group, Ltd.	508,922		2,663,358	0.2%
	Cargojet, Inc.	16,249		793,138	0.1%
	Cervus Equipment Corp.	45,297		490,647	0.0%
#*	DIRTT Environmental Solutions	311,768		1,520,125	0.1%
#	Exchange Income Corp.	89,484		2,180,860	0.2%
#	Exco Technologies, Ltd.	179,248		1,212,121	0.1%
*	GDI Integrated Facility Services, Inc.	700		8,754	0.0%
*	Heroux-Devtek, Inc.	195,954		2,261,151	0.2%
#	Horizon North Logistics, Inc.	918,844		1,838,177	0.2%
*	IBI Group, Inc.	103,000		550,002	0.0%
	K-Bro Linen, Inc.	61,053		1,740,125	0.1%
	Magellan Aerospace Corp.	91,876		1,122,374	0.1%
#	Maxar Technologies, Ltd.	256,971		12,900,837	1.1%
	Morneau Shepell, Inc.	329,911		6,820,812	0.6%
#	NFI Group, Inc.	331,320		12,359,132	1.0%
	Richelieu Hardware, Ltd.	310,955		6,483,305	0.5%
	Rocky Mountain Dealerships, Inc.	112,555		942,632	0.1%
	Russel Metals, Inc.	412,096		8,422,789	0.7%
	Savaria Corp.	138,100		1,683,903	0.1%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Industrials — (Continued)
#	Stantec, Inc.	347,806	$	8,944,830	0.7%
	Stuart Olson, Inc.	144,359		845,521	0.1%
	TFI International, Inc.	527,889		16,282,584	1.3%
	Toromont Industries, Ltd.	213,413		9,230,337	0.8%
#	Transcontinental, Inc. Class A	455,476		10,577,479	0.9%
	Wajax Corp.	138,466		2,622,602	0.2%
#	Westshore Terminals Investment Corp.	319,049		5,783,241	0.5%
*	Alexco Resource Corp.	4,700		6,185	0.0%
Total Industrials				147,079,691	12.1%
Information Technology — (3.6%)
#	Absolute Software Corp.	238,088		1,255,049	0.1%
*	BSM Technologies, Inc.	21,200		21,286	0.0%
*	Celestica, Inc.(2262659)	36,408		432,163	0.0%
*	Celestica, Inc.(2263362)	755,063		8,977,016	0.7%
*	Descartes Systems Group, Inc. (The)	434,588		14,158,448	1.2%
	Enghouse Systems, Ltd.	118,057		6,894,029	0.6%
#	Evertz Technologies, Ltd.	162,053		1,969,807	0.2%
#*	EXFO, Inc.	60,487		207,965	0.0%
*	GoldMoney, Inc.	15,700		34,633	0.0%
*	Kinaxis, Inc.	132,974		8,951,583	0.7%
#	Mediagrif Interactive Technologies, Inc.	30,070		281,338	0.0%
*	Mitel Networks Corp.	449,025		4,914,971	0.4%
	Pivot Technology Solutions, Inc.	53,300		77,843	0.0%
*	Points International, Ltd.	41,259		681,033	0.1%
#	Quarterhill, Inc.	785,133		871,939	0.1%
#*	Sierra Wireless, Inc.	196,447		3,142,495	0.2%
*	Solium Capital, Inc.	78,206		684,708	0.1%
#*	UrtheCast Corp.	194,714		34,066	0.0%
	Vecima Networks, Inc.	6,059		39,866	0.0%
Total Information Technology				53,630,238	4.4%
Materials — (24.0%)
*	5N Plus, Inc.	527,729		1,344,763	0.1%
#	Acadian Timber Corp.	60,338		913,343	0.1%
#	AirBoss of America Corp.	100,662		1,186,826	0.1%
*	Alacer Gold Corp.	1,979,492		3,658,894	0.3%
	Alamos Gold, Inc. Class A	2,388,720		13,609,333	1.1%
#*	Alio Gold, Inc.	204,318		296,846	0.0%
#	Altius Minerals Corp.	261,400		2,614,696	0.2%
#*	Americas Silver Corp.	170,412		532,761	0.0%
*	Amerigo Resources, Ltd.	473,700		356,721	0.0%
*	Argonaut Gold, Inc.	1,166,038		2,048,871	0.2%
#*	Asanko Gold, Inc.	861,993		931,069	0.1%
*	B2Gold Corp.	5,823,490		15,105,238	1.2%
	Caledonia Mining Corp. P.L.C.	540		4,600	0.0%
*	Canfor Corp.	440,670		10,605,712	0.9%
	Canfor Pulp Products, Inc.	217,215		4,167,012	0.3%
*	Capstone Mining Corp.	3,069,355		2,358,079	0.2%
	Cascades, Inc.	482,793		4,322,423	0.4%
*	Centerra Gold, Inc.	1,552,135		8,630,517	0.7%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
#*	China Gold International Resources Corp., Ltd.	1,658,100	$	2,875,646	0.2%
#*	Conifex Timber, Inc.	19,400		86,770	0.0%
#*	Continental Gold, Inc.	982,848		2,833,449	0.2%
#*	Copper Mountain Mining Corp.	972,155		916,953	0.1%
#*	Dalradian Resources, Inc.	150,894		165,282	0.0%
*	Detour Gold Corp.	1,073,245		9,649,531	0.8%
*	Dundee Precious Metals, Inc.	1,421,222		3,394,544	0.3%
*	eCobalt Solutions, Inc.	100,900		81,355	0.0%
#*	Eldorado Gold Corp.	4,240,346		4,289,857	0.4%
#*	Endeavour Mining Corp.	382,529		6,864,071	0.6%
#*	Endeavour Silver Corp.	586,873		1,843,674	0.2%
#*	First Majestic Silver Corp.	927,292		7,074,690	0.6%
*	First Mining Gold Corp.	815,900		279,280	0.0%
*	Fortress Global Enterprises, Inc.	16,706		43,206	0.0%
*	Fortuna Silver Mines, Inc.	1,210,391		6,886,795	0.6%
*	Golden Star Resources, Ltd.	2,409,227		1,649,340	0.1%
#*	Great Panther Silver, Ltd.	834,051		970,675	0.1%
*	Guyana Goldfields, Inc.	1,150,118		4,295,500	0.4%
	HudBay Minerals, Inc.	1,705,186		9,507,484	0.8%
*	IAMGOLD Corp.	3,203,040		18,662,980	1.5%
#*	Imperial Metals Corp.	346,592		479,822	0.0%
*	Interfor Corp.	467,908		8,986,937	0.7%
*	International Tower Hill Mines, Ltd.	13,001		6,428	0.0%
	Intertape Polymer Group, Inc.	360,977		4,961,666	0.4%
*	Ivanhoe Mines, Ltd. Class A	2,296,109		4,715,699	0.4%
	Kirkland Lake Gold, Ltd.	781,555		16,550,786	1.4%
*	Klondex Mines, Ltd.	996,563		2,327,196	0.2%
#	Labrador Iron Ore Royalty Corp.	417,556		7,651,408	0.6%
*	Largo Resources, Ltd.	297,200		393,358	0.0%
*	Leagold Mining Corp.	257,542		507,385	0.0%
*	Liberty Gold Corp.	105,861		35,431	0.0%
#	Lucara Diamond Corp.	1,690,358		2,713,008	0.2%
#*	Lundin Gold, Inc.	148,809		518,423	0.0%
*	Lydian International, Ltd.	83,014		22,101	0.0%
*	Major Drilling Group International, Inc.	615,212		3,247,687	0.3%
#	Mandalay Resources Corp.	1,371,135		203,378	0.0%
#*	Marathon Gold Corp.	172,000		117,750	0.0%
#*	Midas Gold Corp.	64,084		47,771	0.0%
*	Mountain Province Diamonds, Inc.	82,700		207,591	0.0%
#*	Nautilus Minerals, Inc.	227,078		33,682	0.0%
#	Nevsun Resources, Ltd.	2,058,709		7,156,506	0.6%
*	New Gold, Inc.	3,824,551		7,971,148	0.7%
*	Nighthawk Gold Corp.	17,500		5,591	0.0%
	Norbord, Inc.	102,923		4,232,321	0.4%
#*	Northern Dynasty Minerals, Ltd.	106,100		57,301	0.0%
	OceanaGold Corp.	3,727,260		10,348,381	0.9%
*	Orbite Technologies, Inc.	73,500		2,205	0.0%
	Osisko Gold Royalties, Ltd.	745,064		7,055,901	0.6%
#*	Osisko Mining, Inc.	282,777		387,174	0.0%
	Pan American Silver Corp.	1,044,715		18,698,622	1.5%
#*	PolyMet Mining Corp.	642,081		630,042	0.1%
*	Premier Gold Mines, Ltd.	1,131,049		2,245,493	0.2%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Materials — (Continued)
#*	Pretium Resources, Inc.(B57Q8S9)	321,293	$	2,363,293	0.2%
#*	Pretium Resources, Inc.(74139C102)	293,903		2,157,248	0.2%
#*	RB Energy, Inc.	396,013		198	0.0%
*	Roxgold, Inc.	889,460		757,765	0.1%
#*	Royal Nickel Corp.	324,000		24,645	0.0%
#*	Sabina Gold & Silver Corp.	1,695,621		1,960,479	0.2%
#*	Sandstorm Gold, Ltd.	1,323,001		5,947,542	0.5%
#*	Seabridge Gold, Inc.	109,635		1,233,409	0.1%
*	SEMAFO, Inc.	2,068,458		5,994,618	0.5%
#*	Sherritt International Corp.	2,539,461		2,144,146	0.2%
#*	Sprott Resource Holdings, Inc.	597,898		50,028	0.0%
*	SSR Mining, Inc.	759,105		7,489,135	0.6%
	Stella-Jones, Inc.	280,906		10,232,829	0.8%
#*	Stornoway Diamond Corp.	1,818,797		608,733	0.1%
	Supremex, Inc.	11,691		29,258	0.0%
#	Tahoe Resources, Inc.	1,778,769		8,754,144	0.7%
#*	Tanzanian Royalty Exploration Corp.	207,891		88,555	0.0%
*	Taseko Mines, Ltd.	1,417,826		1,509,874	0.1%
*	Teranga Gold Corp.	628,014		2,240,433	0.2%
#*	TMAC Resources, Inc.	88,413		376,612	0.0%
*	Torex Gold Resources, Inc.	434,203		3,867,582	0.3%
*	Trevali Mining Corp.	4,113,289		2,815,928	0.2%
#*	Wesdome Gold Mines, Ltd.	798,483		1,864,635	0.2%
	Western Forest Products, Inc.	2,638,609		5,378,977	0.4%
	Winpak, Ltd.	154,235		5,162,089	0.4%
	Yamana Gold, Inc.	4,465,651		13,009,883	1.1%
Total Materials				353,639,016	29.1%
Real Estate — (3.4%)
#	Altus Group, Ltd.	263,514		5,875,020	0.5%
	Brookfield Real Estate Services, Inc.	41,669		618,070	0.1%
	Colliers International Group, Inc.	199,337		15,165,776	1.2%
*	DREAM Unlimited Corp. Class A	350,807		2,596,396	0.2%
	FirstService Corp.(BY9C8H7)	1,234		93,833	0.0%
	FirstService Corp.(BYL7ZF7)	185,186		14,084,926	1.2%
	Genesis Land Development Corp.	76,842		223,866	0.0%
	Information Services Corp.	11,174		144,748	0.0%
#	Invesque, Inc.	152,266		1,254,672	0.1%
*	Mainstreet Equity Corp.	29,849		972,451	0.1%
	Melcor Developments, Ltd.	52,840		604,506	0.0%
	Morguard Corp.	17,168		2,185,944	0.2%
#	Tricon Capital Group, Inc.	813,815		6,827,961	0.6%
Total Real Estate				50,648,169	4.2%
Utilities — (4.2%)
	Atco, Ltd. Class I	10,300		317,936	0.0%
	Boralex, Inc. Class A	371,884		5,957,386	0.5%
	Capital Power Corp.	631,209		12,113,797	1.0%
#	Innergex Renewable Energy, Inc.	619,431		6,506,934	0.5%
	Just Energy Group, Inc.	720,976		2,599,495	0.2%
*	Maxim Power Corp.	92,234		178,904	0.0%

The Canadian Small Company Series
continued

					Percentage
		Shares	Value††		of Net Assets**
Utilities — (Continued)
#	Northland Power, Inc.	286,688	$	5,349,299	0.4%
	Polaris Infrastructure, Inc.	88,400		946,771	0.1%
	Superior Plus Corp.	849,685		8,214,731	0.7%
	TransAlta Corp.	1,769,559		8,883,801	0.7%
#	TransAlta Renewables, Inc.	721,646		6,828,644	0.6%
#	Valener, Inc.	283,887		4,366,330	0.4%
Total Utilities				62,264,028	5.1%
TOTAL COMMON STOCKS				1,210,087,928	99.7%
TOTAL INVESTMENT SECURITIES				1,210,087,928
			Value†
SECURITIES LENDING COLLATERAL — (18.0%)
§@	DFA Short Term Investment Fund	22,961,149		265,683,457	21.9%
TOTAL INVESTMENTS — (100.0%) (Cost $1,589,004,377)^^			$	1,475,771,385	121.6%

THE JAPANESE SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2018

		Shares	Value
COMMON STOCKS — (94.6%)
COMMUNICATION SERVICES — (2.9%)
#	Aeria, Inc.	97,700	$	558,826
#	Akatsuki, Inc.	46,200		1,814,450
# *	AlphaPolis Co., Ltd.	11,300		184,726
#	Amuse, Inc.	85,298		2,173,965
#	AOI TYO Holdings, Inc.	152,331		1,686,279
	Asahi Broadcasting Group Holdings Corp.	66,000		449,161
#	Asahi Net, Inc.	117,800		530,852
#	Ateam, Inc.	92,700		1,766,046
# *	Atrae, Inc.	46,700		832,941
	Avex, Inc.	269,900		3,631,741
# *	Bengo4.com, Inc.	52,900		1,468,694
*	Broadmedia Corp.	156,100		94,040
#	CareerIndex, Inc.	59,900		827,625
#	Ceres, Inc.	18,800		326,708
#	COLOPL, Inc.	387,800		2,388,892
#	COOKPAD, Inc.	157,300		576,518
# *	Cyberstep, Inc.	30,700		319,180
# *	Designone Japan, Inc.	50,700		217,133
#	Dip Corp.	235,200		5,104,742
*	eBook Initiative Japan Co., Ltd.	9,100		150,887
	F@N Communications, Inc.	340,700		1,888,940
#	Faith, Inc.	54,410		652,397
#	Freebit Co., Ltd.	79,500		626,000
# *	Full Speed, Inc.	47,700		277,907
	Gakken Holdings Co., Ltd.	31,300		1,584,062
	Gree, Inc.	913,000		3,820,866
# *	Gumi, Inc.	144,200		768,608
#	GungHo Online Entertainment, Inc.	825,500		1,492,392
#	Gurunavi, Inc.	209,700		1,600,338
#	IMAGICA GROUP, Inc.	110,000		543,557
	Intage Holdings, Inc.	246,900		2,127,996
	Internet Initiative Japan, Inc.	200,400		3,878,577
*	Itokuro, Inc.	52,800		1,398,970
*	Kadokawa Dwango	180,416		1,801,231
#	Kamakura Shinsho, Ltd.	120,400		1,142,786
#	KLab, Inc.	260,800		2,296,182
*	LIFULL Co., Ltd.	428,600		2,901,506
#	Macromill, Inc.	216,100		4,276,366
#	MarkLines Co., Ltd.	79,100		1,086,821
	Marvelous, Inc.	236,800		1,897,236
	Members Co., Ltd.	40,200		451,657
	Mixi, Inc.	326,200		7,127,450
#	Mobile Factory, Inc.	40,600		501,253
	MTI, Ltd.	199,300		959,624
# *	Mynet, Inc.	45,400		445,523
	Okinawa Cellular Telephone Co.	77,000		2,836,461
	OPT Holding, Inc.	26,400		589,134
	Proto Corp.	91,800		1,217,053
#	Septeni Holdings Co., Ltd.	51,500		87,559
	Shobunsha Publications, Inc.	258,500		1,267,067
	SKY Perfect JSAT Holdings, Inc.	1,048,800		4,657,116
# *	Synchro Food Co., Ltd.	72,600		504,958
	Toei Animation Co., Ltd.	87,800		2,963,123
	Toei Co., Ltd.	50,400		5,503,011

The Japanese Small Company Series
continued

		Shares	Value
COMMUNICATION SERVICES — (Continued)
	Tohokushinsha Film Corp.	87,200	$	476,360
	Tow Co., Ltd.	132,800		965,417
	TV Asahi Holdings Corp.	109,300		2,040,508
	Tv Tokyo Holdings Corp.	104,500		2,408,533
# *	Usen-Next Holdings Co., Ltd.	107,400		1,048,443
#	ValueCommerce Co., Ltd.	124,900		1,765,197
# *	V-Cube, Inc.	133,700		611,376
#	Vector, Inc.	192,100		3,287,992
# *	Vision, Inc.	59,500		2,039,322
	Voyage Group, Inc.	69,100		817,993
#	WirelessGate, Inc.	63,300		317,634
	Wowow, Inc.	44,300		1,288,099
*	Zappallas, Inc.	55,900		188,446
	Zenrin Co., Ltd.	257,750		6,413,254
*	ZIGExN Co., Ltd.	426,200		2,632,782
TOTAL COMMUNICATION SERVICES				116,578,489
CONSUMER DISCRETIONARY — (17.7%)
#	Adastria Co., Ltd.	210,740		3,433,948
#	Adventure, Inc.	19,600		1,292,529
	Aeon Fantasy Co., Ltd.	53,732		1,679,123
*	AGORA Hospitality Group Co., Ltd.	372,000		95,556
	Ahresty Corp.	152,800		969,766
#	Aigan Co., Ltd.	86,100		247,476
	Ainavo Holdings Co., Ltd.	1,700		13,723
	Aisan Industry Co., Ltd.	257,500		1,928,008
# *	Akebono Brake Industry Co., Ltd.	396,600		797,544
	Alpen Co., Ltd.	129,400		2,174,488
	Alpha Corp.	51,500		623,290
	Alpine Electronics, Inc.	277,500		4,710,154
	Amiyaki Tei Co., Ltd.	30,500		1,074,040
*	Anrakutei Co., Ltd.	1,300		54,441
	AOKI Holdings, Inc.	276,100		3,636,528
	Aoyama Trading Co., Ltd.	324,200		9,808,171
	Arata Corp.	94,900		4,309,596
	Arcland Sakamoto Co., Ltd.	221,600		2,901,856
	Arcland Service Holdings Co., Ltd.	123,400		2,529,436
	Asahi Co., Ltd.	127,600		1,534,036
	Asante, Inc.	47,700		950,619
	Ashimori Industry Co., Ltd.	30,899		511,204
#	Asti Corp.	20,800		352,660
#	Atom Corp.	691,100		6,132,916
	Atsugi Co., Ltd.	124,300		1,128,101
	Aucnet, Inc.	13,700		143,850
	Autobacs Seven Co., Ltd.	530,000		8,529,901
	Baroque Japan, Ltd.	105,800		957,866
*	Beaglee, Inc.	35,400		415,496
#	Beauty Garage, Inc.	17,400		289,554
#	Beenos, Inc.	66,400		986,466
	Belluna Co., Ltd.	358,000		3,556,292
	Bookoff Group Holdings, Ltd.	68,800		447,549
	BRONCO BILLY Co., Ltd.	73,800		1,907,677
#	Can Do Co., Ltd.	65,900		967,254
	Central Automotive Products, Ltd.	83,300		1,134,043
	Central Sports Co., Ltd.	49,500		1,728,768
#	Chikaranomoto Holdings Co., Ltd.	35,400		283,262

The Japanese Small Company Series
continued

		Shares	Value
CONSUMER DISCRETIONARY — (Continued)
#	CHIMNEY Co., Ltd.	37,900	$	931,049
#	Chiyoda Co., Ltd.	130,000		2,506,098
	Chofu Seisakusho Co., Ltd.	138,000		2,794,268
	Chori Co., Ltd.	77,800		1,281,537
	Chuo Spring Co., Ltd.	20,000		620,531
#	Clarion Co., Ltd.	177,600		3,893,617
	Cleanup Corp.	145,100		884,838
#	Coco’s Japan Co., Ltd.	54,300		1,054,922
#	Colowide Co., Ltd.	350,600		8,536,631
	Corona Corp.	105,500		1,041,412
#	Create Restaurants Holdings, Inc.	319,900		3,393,402
#	Cross Plus, Inc.	9,800		68,463
	Daido Metal Co., Ltd.	279,700		2,139,757
#	Daidoh, Ltd.	82,300		261,172
#	Daikoku Denki Co., Ltd.	63,200		899,016
	Daikyonishikawa Corp.	292,400		2,793,081
	Dainichi Co., Ltd.	69,100		454,916
	Daisyo Corp.	47,200		703,575
	Daiyu Lic Holdings Co., Ltd.	75,600		715,392
#	DCM Holdings Co., Ltd.	762,100		7,410,662
	DD Holdings Co., Ltd.	34,200		686,639
#	Descente, Ltd.	286,100		7,491,243
	Doshisha Co., Ltd.	166,900		3,436,657
#	Doutor Nichires Holdings Co., Ltd.	237,686		4,223,903
#	Dynic Corp.	42,200		313,181
	Eagle Industry Co., Ltd.	201,000		2,342,011
#	EAT&Co, Ltd.	36,100		536,614
	EDION Corp.	510,900		5,372,458
*	Enigmo, Inc.	85,200		1,520,801
#	ES-Con Japan, Ltd.	264,600		1,567,687
	ESCRIT, Inc.	56,500		351,766
	ESTELLE Holdings Co., Ltd.	12,600		79,431
	Exedy Corp.	210,200		5,177,383
	FCC Co., Ltd.	263,700		6,530,782
#	Felissimo Corp.	21,200		239,232
#	Fields Corp.	109,800		820,881
#	Fine Sinter Co., Ltd.	10,300		217,880
#	First Juken Co., Ltd.	51,200		543,671
#	First-corp, Inc.	55,000		513,342
	FJ Next Co., Ltd.	122,400		906,771
	Foster Electric Co., Ltd.	151,200		2,209,487
	France Bed Holdings Co., Ltd.	152,300		1,286,616
	F-Tech, Inc.	102,100		997,649
	Fuji Co., Ltd.	152,700		2,867,445
#	Fuji Corp. (6163543)	39,100		718,321
	Fuji Corp., Ltd.	199,300		1,522,605
#	Fuji Kyuko Co., Ltd.	164,500		4,801,225
	Fujibo Holdings, Inc.	75,500		2,199,717
	Fujikura Rubber, Ltd.	134,600		645,122
#	Fujio Food System Co., Ltd.	59,400		1,081,735
	Fujishoji Co., Ltd.	56,600		524,670
	Fujita Kanko, Inc.	61,500		1,678,350
#	Fujitsu General, Ltd.	462,300		6,925,222
	FuKoKu Co., Ltd.	65,400		533,969
# *	Funai Electric Co., Ltd.	145,300		707,841
#	Furukawa Battery Co., Ltd. (The)	104,300		785,578
	Furyu Corp.	94,100		755,219

The Japanese Small Company Series
continued

		Shares	Value
CONSUMER DISCRETIONARY — (Continued)
	Futaba Industrial Co., Ltd.	431,700	$	2,358,797
	Gakkyusha Co., Ltd.	53,400		815,627
#	Genki Sushi Co., Ltd.	41,200		2,228,550
	Geo Holdings Corp.	247,800		3,775,022
#	Gfoot Co., Ltd.	98,100		654,166
	GLOBERIDE, Inc.	68,999		1,658,554
#	Gokurakuyu Holdings Co., Ltd.	82,500		423,366
#	Goldwin, Inc.	77,600		5,531,604
#	Golf Digest Online, Inc.	75,200		623,521
	Greens Co., Ltd.	16,900		208,010
	GSI Creos Corp.	31,592		377,434
#	G-Tekt Corp.	138,800		1,958,938
	Gunze, Ltd.	120,000		5,321,783
	H2O Retailing Corp.	519,000		8,063,808
#	Hagihara Industries, Inc.	90,800		1,346,868
#	Hakuyosha Co., Ltd.	13,600		368,709
#	Hamee Corp.	44,900		673,285
	Handsman Co., Ltd.	37,500		365,898
	Happinet Corp.	117,000		1,776,318
#	Harada Industry Co., Ltd.	71,600		514,947
	Hard Off Corp. Co., Ltd.	67,700		567,043
	Haruyama Holdings, Inc.	56,500		446,093
	Heian Ceremony Service Co., Ltd.	8,300		65,734
	Heiwa Corp.	14,700		336,190
	Hiday Hidaka Corp.	163,287		3,185,237
	HI-LEX Corp.	103,600		2,169,867
#	Himaraya Co., Ltd.	35,900		314,617
#	Hinokiya Group Co., Ltd.	47,200		1,141,261
#	Hiramatsu, Inc.	276,200		1,154,526
	HIS Co., Ltd.	84,600		2,576,615
	H-One Co., Ltd.	143,300		1,514,887
	Honeys Holdings Co., Ltd.	129,340		1,027,376
#	Hoosiers Holdings.	368,500		2,045,187
#	Hotland Co., Ltd.	76,500		979,222
#	House Do Co., Ltd.	58,100		849,410
#	HUB Co., Ltd.	35,400		281,872
#	I K K, Inc.	68,000		432,883
#	I.K Co., Ltd.	44,300		403,329
#	IBJ, Inc.	146,000		803,447
	Ichibanya Co., Ltd.	107,258		4,094,330
	Ichikoh Industries, Ltd.	244,500		1,697,541
#	IDOM, Inc.	274,900		925,460
	IJT Technology Holdings Co., Ltd.	170,180		1,055,060
	Imasen Electric Industrial	132,600		1,217,907
#	Istyle, Inc.	325,600		2,919,170
	Janome Sewing Machine Co., Ltd.	104,900		538,318
#	Japan Best Rescue System Co., Ltd.	132,900		1,280,202
	Japan Wool Textile Co., Ltd. (The)	377,400		2,979,755
#	JFLA Holdings, Inc.	121,800		444,375
	JINS, Inc.	98,900		5,600,438
#	Joban Kosan Co., Ltd.	42,899		654,605
#	Jolly - Pasta Co., Ltd.	22,600		353,516
	Joshin Denki Co., Ltd.	133,200		3,403,836
	JP-Holdings, Inc.	374,800		992,677
	JVC Kenwood Corp.	747,400		1,847,918
	Kasai Kogyo Co., Ltd.	204,200		1,882,651
	Kawai Musical Instruments Manufacturing Co., Ltd.	44,800		1,553,544

The Japanese Small Company Series
continued

		Shares	Value
CONSUMER DISCRETIONARY — (Continued)
	Keihin Corp.	312,500	$	6,153,104
	Keiyo Co., Ltd.	201,300		996,249
	KFC Holdings Japan, Ltd.	75,000		1,318,854
	King Co., Ltd.	44,900		181,516
# *	Kintetsu Department Store Co., Ltd.	59,900		1,883,153
#	Ki-Star Real Estate Co., Ltd.	59,500		1,048,883
*	KNT-CT Holdings Co., Ltd.	93,100		1,023,059
	Kohnan Shoji Co., Ltd.	179,800		4,498,399
*	Kojima Co., Ltd.	194,200		855,504
	Komatsu Matere Co., Ltd.	226,400		1,870,975
	KOMEDA Holdings Co., Ltd.	341,500		6,717,899
	Komehyo Co., Ltd.	53,500		732,989
	Komeri Co., Ltd.	228,400		5,918,902
	Konaka Co., Ltd.	122,106		540,566
	Koshidaka Holdings Co., Ltd.	324,800		3,785,377
# *	Kourakuen Holdings Corp.	77,400		1,269,020
#	KU Holdings Co., Ltd.	130,900		1,075,316
	Kura Corp.	77,900		4,514,383
	Kurabo Industries, Ltd.	129,900		3,135,688
	Kushikatsu Tanaka Holdings Co.	23,000		613,407
#	KYB Corp.	144,300		3,461,271
#	Kyoritsu Maintenance Co., Ltd.	140,662		6,249,160
#	Kyoto Kimono Yuzen Co., Ltd.	29,100		119,337
*	Laox Co., Ltd.	206,900		660,291
	LEC, Inc.	172,200		3,447,736
# *	LIKE Kidsnext Co., Ltd.	43,600		427,427
*	Litalico, Inc.	44,900		830,461
	LIXIL VIVA Corp.	133,500		2,165,052
	Look Holdings, Inc.	45,600		464,119
#	Mamiya-Op Co., Ltd.	32,700		287,389
	Mars Group Holdings Corp.	89,700		1,849,021
*	Maruzen CHI Holdings Co., Ltd.	109,800		339,213
#	Matsuya Co., Ltd.	174,800		1,650,091
	Matsuyafoods Holdings co., Ltd.	68,300		2,204,405
#	Media Do Holdings Co., Ltd.	51,400		1,101,777
#	Meiko Network Japan Co., Ltd.	137,500		1,207,619
	Meiwa Estate Co., Ltd.	95,300		528,836
	Mikuni Corp.	167,900		920,752
	Misawa Homes Co., Ltd.	129,600		973,840
	Mitsuba Corp.	215,490		1,696,768
	Mizuno Corp.	150,300		3,516,730
	Monogatari Corp. (The)	39,900		3,562,380
	Morito Co., Ltd.	112,500		850,868
#	MrMax Holdings, Ltd.	176,100		815,865
	Murakami Corp.	30,000		724,576
	Musashi Seimitsu Industry Co., Ltd.	321,400		4,690,487
	Nafco Co., Ltd.	47,500		761,290
	Nagawa Co., Ltd.	43,600		2,101,097
*	Naigai Co., Ltd.	21,500		94,849
#	Nakayamafuku Co., Ltd.	63,000		344,447
#	Nextage Co., Ltd.	255,100		2,341,614
	Nice Holdings, Inc.	49,500		510,938
	Nichirin Co., Ltd.	69,660		1,471,442
	Nihon Eslead Corp.	57,800		782,778
#	Nihon House Holdings Co., Ltd.	319,900		1,459,567
	Nihon Plast Co., Ltd.	122,500		990,825
#	Nihon Tokushu Toryo Co., Ltd.	87,400		1,675,988

The Japanese Small Company Series
continued

		Shares	Value
CONSUMER DISCRETIONARY — (Continued)
	Nikki Co., Ltd.	2,100	$	40,964
#	Nippon Felt Co., Ltd.	80,200		337,522
	Nippon Piston Ring Co., Ltd.	46,000		864,861
	Nippon Seiki Co., Ltd.	336,800		5,926,971
#	Nippon View Hotel Co., Ltd.	41,400		472,708
	Nishikawa Rubber Co., Ltd.	28,100		493,761
#	Nishimatsuya Chain Co., Ltd.	361,700		3,219,533
	Nissan Shatai Co., Ltd.	533,700		4,298,879
	Nissan Tokyo Sales Holdings Co., Ltd.	174,100		534,921
	Nissin Kogyo Co., Ltd.	301,400		4,385,121
	Nittan Valve Co., Ltd.	93,500		283,202
	Nojima Corp.	216,300		5,108,740
	Ohashi Technica, Inc.	72,600		907,848
	Ohsho Food Service Corp.	96,000		6,618,786
# *	Oisix ra daichi, Inc.	75,000		1,296,020
#	Omikenshi Co., Ltd.	32,200		197,213
	Onward Holdings Co., Ltd.	847,200		5,107,457
	Ootoya Holdings Co., Ltd.	38,900		777,605
# *	Open Door, Inc.	76,200		1,809,191
#	Otsuka Kagu, Ltd.	82,500		192,625
	Ozu Corp.	23,000		400,293
	Pacific Industrial Co., Ltd.	327,600		4,786,301
	PAL GROUP Holdings Co., Ltd.	91,200		2,672,064
#	PAPYLESS Co., Ltd.	37,700		973,327
#	Parco Co., Ltd.	151,000		1,602,855
	Paris Miki Holdings, Inc.	177,200		761,036
	PC Depot Corp.	190,481		956,379
	People Co., Ltd.	19,600		224,041
#	Pepper Food Service Co., Ltd.	92,300		2,592,471
	PIA Corp.	36,900		1,763,919
	Piolax, Inc.	215,400		4,693,348
# *	Pioneer Corp.	2,489,100		2,228,773
#	Plenus Co., Ltd.	161,300		2,581,462
	Press Kogyo Co., Ltd.	623,200		2,849,229
	Pressance Corp.	260,100		2,958,093
	Raccoon Co., Ltd.	98,400		538,421
	Regal Corp.	1,500		36,751
	Renaissance, Inc.	88,700		1,786,971
# *	Renown, Inc.	366,700		374,734
#	Resol Holdings Co., Ltd.	16,799		629,757
	Resorttrust, Inc.	201,200		3,098,572
	Rhythm Watch Co., Ltd.	55,900		989,913
#	Riberesute Corp.	60,400		498,732
	Ride On Express Holdings Co., Ltd.	62,200		764,221
	Right On Co., Ltd.	119,625		995,267
	Riken Corp.	69,700		3,335,784
	Ringer Hut Co., Ltd.	172,000		3,445,654
#	Riso Kyoiku Co., Ltd.	261,700		2,768,154
	Round One Corp.	563,400		6,682,384
	Royal Holdings Co., Ltd.	216,900		5,366,694
# *	Royal Hotel, Ltd. (The)	2,100		31,836
*	RVH, Inc.	100		236
	Sac’s Bar Holdings, Inc.	138,350		1,226,162
	Saizeriya Co., Ltd.	217,900		4,135,335
	Sakai Ovex Co., Ltd.	30,999		616,100
	San Holdings, Inc.	31,800		742,433
*	Sanden Holdings Corp.	97,400		1,064,269

The Japanese Small Company Series
continued

		Shares	Value
CONSUMER DISCRETIONARY — (Continued)
	Sanei Architecture Planning Co., Ltd.	78,200	$	1,140,457
	Sangetsu Corp.	367,050		7,059,581
	Sankyo Seiko Co., Ltd.	238,900		959,305
	Sanoh Industrial Co., Ltd.	190,700		1,086,128
#	Sanyei Corp.	4,300		120,291
	Sanyo Electric Railway Co., Ltd.	121,098		2,674,051
	Sanyo Housing Nagoya Co., Ltd.	78,200		693,695
#	Sanyo Shokai, Ltd.	96,199		1,621,972
#	Scroll Corp.	230,500		977,701
#	Seiko Holdings Corp.	206,281		4,948,953
	Seiren Co., Ltd.	347,800		4,948,192
# *	Senshukai Co., Ltd.	230,700		593,667
#	SFP Holdings Co., Ltd.	74,500		1,101,261
#	Shidax Corp.	152,000		488,829
#	Shikibo, Ltd.	65,500		656,499
	Shimachu Co., Ltd.	282,300		7,400,133
	Shimojima Co., Ltd.	34,900		312,369
#	Shoei Co., Ltd.	90,900		3,541,646
	Showa Corp.	415,200		5,713,720
	Snow Peak, Inc.	47,600		633,129
	SNT Corp.	230,100		766,522
	Soft99 Corp.	81,800		727,214
#	Sotoh Co., Ltd.	42,900		377,613
#	Space Value Holdings Co., Ltd.	233,000		2,079,417
	SPK Corp.	22,200		475,370
#	SRS Holdings Co., Ltd.	49,200		435,269
	St Marc Holdings Co., Ltd.	117,900		2,800,076
	Starts Corp., Inc.	245,400		5,095,771
	Step Co., Ltd.	60,400		840,853
	Studio Alice Co., Ltd.	70,300		1,607,644
*	Studio Atao Co., Ltd.	500		11,965
#	Suminoe Textile Co., Ltd.	38,600		924,691
	Sumitomo Riko Co., Ltd.	274,000		2,263,647
	Suncall Corp.	128,700		833,091
	Sushiro Global Holdings, Ltd.	130,500		6,873,838
#	Syuppin Co., Ltd.	161,200		2,010,901
	T RAD Co., Ltd.	49,000		1,170,278
	Tachikawa Corp.	73,900		741,806
	Tachi-S Co., Ltd.	224,140		3,159,143
	Taiho Kogyo Co., Ltd.	119,300		1,075,781
	Take And Give Needs Co., Ltd.	63,210		991,598
#	Takihyo Co., Ltd.	34,100		593,792
#	Tama Home Co., Ltd.	123,500		1,269,915
	Tamron Co., Ltd.	126,400		2,255,617
	Tbk Co., Ltd.	160,300		654,022
	Tear Corp.	72,100		512,772
#	Temairazu, Inc.	11,200		271,646
#	Tenpos Holdings Co., Ltd.	34,500		640,942
	T-Gaia Corp.	146,200		3,310,046
	Tigers Polymer Corp.	87,800		538,670
	Toa Corp. (6894434)	173,700		1,861,850
#	Toabo Corp.	54,799		267,566
#	Tokai Rika Co., Ltd.	341,900		6,234,234
	Token Corp.	55,050		3,566,040
# *	Tokyo Base Co., Ltd.	154,700		866,945
	Tokyo Dome Corp.	628,300		5,530,321
	Tokyo Individualized Educational Institute, Inc.	121,000		1,565,107

The Japanese Small Company Series
continued

		Shares	Value
CONSUMER DISCRETIONARY — (Continued)
	Tokyo Radiator Manufacturing Co., Ltd.	24,300	$	207,025
#	Tokyotokeiba Co., Ltd.	107,300		3,794,275
#	Tokyu Recreation Co., Ltd.	20,400		888,993
	Tomy Co., Ltd.	630,693		7,336,724
	Topre Corp.	243,700		5,071,331
#	Toridoll Holdings Corp.	162,800		2,757,462
#	Torikizoku Co., Ltd.	54,600		998,049
	Tosho Co., Ltd.	114,400		4,444,539
	Toyo Tire & Rubber Co., Ltd.	430,400		7,179,731
	TPR Co., Ltd.	164,700		4,011,491
	TSI Holdings Co., Ltd.	522,195		3,560,614
#	Tsukada Global Holdings, Inc.	119,000		635,532
	Tsukamoto Corp. Co., Ltd.	19,000		198,421
	Tsutsumi Jewelry Co., Ltd.	57,100		1,121,868
#	Ukai Co., Ltd.	5,900		204,409
#	Umenohana Co., Ltd.	21,700		507,661
	Unipres Corp.	292,000		5,223,299
	United Arrows, Ltd.	163,600		6,151,730
*	Unitika, Ltd.	431,400		2,200,482
*	U-Shin, Ltd.	172,300		1,161,933
*	Vega Corp. Co., Ltd.	1,700		16,190
# *	VIA Holdings, Inc.	155,400		984,903
#	Village Vanguard Co., Ltd.	40,600		381,646
# *	Visionary Holdings Co., Ltd.	637,300		584,009
#	VT Holdings Co., Ltd.	590,100		2,462,198
	Wacoal Holdings Corp.	364,700		10,055,102
	Waseda Academy Co., Ltd.	12,600		223,363
#	WATAMI Co., Ltd.	167,200		1,914,938
	Watts Co., Ltd.	67,800		525,787
	Weds Co., Ltd.	14,500		84,805
	Xebio Holdings Co., Ltd.	202,000		2,799,766
	Yachiyo Industry Co., Ltd.	52,900		421,212
#	Yagi & Co., Ltd.	18,600		280,864
	Yamato International, Inc.	119,800		494,880
#	Yasunaga Corp.	56,800		876,957
	Yellow Hat, Ltd.	130,200		3,201,417
	Yomiuri Land Co., Ltd.	28,500		1,080,314
	Yondoshi Holdings, Inc.	129,420		2,746,742
	Yorozu Corp.	150,500		2,121,842
#	Yoshinoya Holdings Co., Ltd.	165,000		2,712,043
#	Yossix Co., Ltd.	26,300		610,795
#	Yume No Machi Souzou Iinkai Co., Ltd.	165,200		3,450,780
	Yutaka Giken Co., Ltd.	8,700		170,199
#	Zojirushi Corp.	307,700		3,360,920
TOTAL CONSUMER DISCRETIONARY				713,066,175
CONSUMER STAPLES — (7.6%)
#	Aeon Hokkaido Corp.	261,700		1,847,639
	AFC-HD AMS Life Science Co., Ltd.	48,200		304,485
#	Albis Co., Ltd.	42,600		1,105,969
	Arcs Co., Ltd.	304,900		7,367,683
	Artnature, Inc.	129,400		760,777
	Axial Retailing, Inc.	115,000		3,767,969
	Belc Co., Ltd.	79,300		4,049,535
#	Bourbon Corp.	50,000		896,460
	Bull-Dog Sauce Co., Ltd.	1,500		28,332

The Japanese Small Company Series
continued

		Shares	Value
CONSUMER STAPLES — (Continued)
	Cawachi, Ltd.	52,400	$	972,511
	C’BON COSMETICS Co., Ltd.	8,200		200,503
	Chubu Shiryo Co., Ltd.	180,300		2,195,037
	Chuo Gyorui Co., Ltd.	9,800		244,637
	Ci:z Holdings Co., Ltd.	41,800		2,166,008
	cocokara fine, Inc.	134,860		7,423,232
	Como Co., Ltd.	2,000		44,666
	Cota Co., Ltd.	76,565		1,009,901
	Create SD Holdings Co., Ltd.	210,700		5,337,479
	Daikokutenbussan Co., Ltd.	44,500		1,664,686
	Delica Foods Holdings Co., Ltd.	31,100		413,372
	DyDo Group Holdings, Inc.	73,700		3,741,055
#	Earth Corp.	101,700		4,626,248
	Ebara Foods Industry, Inc.	24,600		465,913
	Eco’s Co., Ltd.	61,300		1,075,612
	Ensuiko Sugar Refining Co., Ltd.	86,200		189,508
	Feed One Co., Ltd.	949,940		1,616,919
*	First Baking Co., Ltd.	12,000		116,524
#	Fujicco Co., Ltd.	153,100		3,513,838
	Fujiya Co., Ltd.	75,100		1,625,841
	G-7 Holdings, Inc.	44,800		1,016,425
#	Genky DrugStores Co., Ltd.	46,800		1,514,333
	HABA Laboratories, Inc.	18,000		1,292,585
	Hagoromo Foods Corp.	19,500		463,648
	Halows Co., Ltd.	58,000		1,266,300
	Hayashikane Sangyo Co., Ltd.	29,400		183,269
	Heiwado Co., Ltd.	223,200		5,721,153
	Hokkaido Coca-Cola Bottling Co., Ltd.	18,299		603,137
	Hokuryo Co. Ltd/Hokkaido	14,900		100,922
	Hokuto Corp.	189,700		3,235,906
	Ichimasa Kamaboko Co., Ltd.	39,500		348,995
	Imuraya Group Co., Ltd.	56,200		1,539,045
#	Inageya Co., Ltd.	175,800		2,217,900
	Itochu-Shokuhin Co., Ltd.	34,900		1,625,317
	Itoham Yonekyu Holdings, Inc.	70,000		440,820
	Iwatsuka Confectionery Co., Ltd.	4,600		179,611
	Japan Meat Co., Ltd.	77,500		1,403,001
	J-Oil Mills, Inc.	76,300		2,629,899
	Kadoya Sesame Mills, Inc.	14,900		793,479
	Kakiyasu Honten Co., Ltd.	65,000		1,434,861
	Kameda Seika Co., Ltd.	96,400		4,564,570
	Kaneko Seeds Co., Ltd.	38,600		494,561
#	Kanemi Co., Ltd.	5,400		143,645
	Kansai Super Market, Ltd.	84,600		782,688
	Kato Sangyo Co., Ltd.	174,500		5,377,145
	Kenko Mayonnaise Co., Ltd.	93,600		2,001,572
#	Key Coffee, Inc.	138,900		2,467,464
	Kirindo Holdings Co., Ltd.	54,500		761,769
#	Kitanotatsujin Corp.	473,300		2,436,870
#	Kobe Bussan Co., Ltd.	215,800		5,479,615
#	Kotobuki Spirits Co., Ltd.	154,800		5,929,736
	Kyokuyo Co., Ltd.	71,999		1,977,060
	Lacto Japan Co., Ltd.	21,200		1,248,197
	Life Corp.	157,800		3,904,529
	Mandom Corp.	175,300		4,864,691
	Marudai Food Co., Ltd.	158,600		2,582,711
	Maruha Nichiro Corp.	274,907		9,952,175

The Japanese Small Company Series
continued

		Shares	Value
CONSUMER STAPLES — (Continued)
#	Maxvalu Nishinihon Co., Ltd.	22,500	$	372,821
#	Maxvalu Tokai Co., Ltd.	49,300		1,087,857
	Medical System Network Co., Ltd.	161,100		764,307
	Megmilk Snow Brand Co., Ltd.	358,200		8,379,194
	Meito Sangyo Co., Ltd.	65,100		874,084
#	Milbon Co., Ltd.	182,752		6,560,503
	Ministop Co., Ltd.	120,100		2,217,542
	Mitsubishi Shokuhin Co., Ltd.	109,000		2,809,127
	Mitsui Sugar Co., Ltd.	124,770		3,356,289
	Miyoshi Oil & Fat Co., Ltd.	51,900		570,534
	Morinaga Milk Industry Co., Ltd.	263,700		7,029,083
	Morozoff, Ltd.	20,400		997,933
	Nagatanien Holdings Co., Ltd.	81,000		1,979,608
	Nakamuraya Co., Ltd.	27,600		1,098,263
	Natori Co., Ltd.	67,500		1,068,271
	Nichimo Co., Ltd.	17,000		233,983
	Nihon Chouzai Co., Ltd.	55,660		1,725,059
	Niitaka Co., Ltd.	2,860		43,648
	Nippon Beet Sugar Manufacturing Co., Ltd.	69,100		1,204,164
#	Nippon Flour Mills Co., Ltd.	382,300		6,331,806
	Nippon Suisan Kaisha, Ltd.	2,140,300		13,671,543
	Nisshin Oillio Group, Ltd. (The)	185,000		5,551,483
	Nissin Sugar Co., Ltd.	112,100		2,219,762
	Nitto Fuji Flour Milling Co., Ltd.	7,500		358,111
	Noevir Holdings Co., Ltd.	27,500		1,169,805
	Oenon Holdings, Inc.	444,900		1,542,563
	OIE Sangyo Co., Ltd.	20,900		263,006
	Okuwa Co., Ltd.	174,900		1,752,160
#	Olympic Group Corp.	62,300		439,307
	OUG Holdings, Inc.	19,400		454,067
	Pickles Corp.	27,900		554,275
	Plant Co., Ltd.	29,100		311,689
	Prima Meat Packers, Ltd.	210,100		3,968,082
	Qol Holdings Co., Ltd.	173,600		3,653,709
#	Retail Partners Co., Ltd.	112,600		1,287,853
	Riken Vitamin Co., Ltd.	79,800		2,460,455
#	Rock Field Co., Ltd.	156,900		2,271,595
#	Rokko Butter Co., Ltd.	96,900		2,091,810
	S Foods, Inc.	132,462		5,336,515
#	S&B Foods, Inc.	19,499		1,435,783
	Sagami Rubber Industries Co., Ltd.	63,300		1,385,488
	San-A Co., Ltd.	133,000		5,611,009
	Sapporo Holdings, Ltd.	472,400		8,763,286
	Sato Foods Co., Ltd.	800		24,850
	Satudora Holdings Co., Ltd.	1,300		23,475
	Shinobu Foods Products Co., Ltd.	1,600		10,034
#	Shoei Foods Corp.	86,800		3,334,594
	Showa Sangyo Co., Ltd.	149,400		3,741,710
	Sogo Medical Holdings Co., Ltd.	133,400		2,862,132
	Starzen Co., Ltd.	55,600		2,257,235
#	Toho Co., Ltd.	55,600		1,101,620
	Tohto Suisan Co., Ltd.	18,099		342,529
	Torigoe Co., Ltd. (The)	102,200		870,563
#	Toyo Sugar Refining Co., Ltd.	15,700		156,080
#	Transaction Co., Ltd.	103,300		784,752
	United Super Markets Holdings, Inc.	395,200		4,331,531
	Uoriki Co., Ltd.	33,600		430,298

The Japanese Small Company Series
continued

		Shares	Value
CONSUMER STAPLES — (Continued)
	Valor Holdings Co., Ltd.	290,300	$	6,230,596
	Warabeya Nichiyo Holdings Co., Ltd.	109,560		1,781,029
#	Watahan & Co., Ltd.	47,400		1,018,701
	Yaizu Suisankagaku Industry Co., Ltd.	56,900		505,773
#	Yakuodo Co., Ltd.	81,900		2,531,920
	YA-MAN, Ltd.	230,000		3,708,695
	Yamatane Corp.	70,100		1,158,347
	Yamaya Corp.	30,000		699,897
	Yamazawa Co., Ltd.	7,400		109,395
	Yaoko Co., Ltd.	79,800		4,364,480
#	Yokohama Reito Co., Ltd.	354,900		2,814,751
	Yomeishu Seizo Co., Ltd.	50,500		1,067,407
	Yuasa Funashoku Co., Ltd.	13,400		421,649
	Yutaka Foods Corp.	3,900		68,932
TOTAL CONSUMER STAPLES				303,762,350
ENERGY — (0.8%)
#	BP Castrol K.K.	53,100		681,348
	Fuji Kosan Co., Ltd.	33,100		182,846
	Fuji Oil Co., Ltd.	226,300		866,398
	Itochu Enex Co., Ltd.	350,800		3,303,041
	Japan Oil Transportation Co., Ltd.	15,200		393,476
	Japan Petroleum Exploration Co., Ltd.	259,300		5,420,175
	Mitsuuroko Group Holdings Co., Ltd.	206,300		1,345,302
	Modec, Inc.	149,200		4,472,615
	Nippon Coke & Engineering Co., Ltd.	629,500		579,890
#	Sala Corp.	362,800		2,075,922
	San-Ai Oil Co., Ltd.	379,900		4,084,957
	Shinko Plantech Co., Ltd.	295,000		2,748,820
	Sinanen Holdings Co., Ltd.	55,800		1,328,582
	Toa Oil Co., Ltd.	50,100		1,159,751
	Toyo Kanetsu K.K.	57,200		1,283,033
TOTAL ENERGY				29,926,156
FINANCIALS — (8.2%)
	77 Bank, Ltd. (The)	496,152		10,248,303
	Advance Create Co., Ltd.	42,500		789,290
	Aichi Bank, Ltd. (The)	63,200		2,411,801
# *	Aiful Corp.	2,531,900		6,677,596
	Aizawa Securities Co., Ltd.	266,500		1,595,912
#	Akatsuki Corp.	112,400		355,273
	Akita Bank, Ltd. (The)	114,140		2,649,962
	Anicom Holdings, Inc.	128,200		4,073,058
#	Aomori Bank, Ltd. (The)	142,900		3,898,699
	Asax Co., Ltd.	9,300		48,548
	Awa Bank, Ltd. (The)	263,600		7,173,482
	Bank of Iwate, Ltd. (The)	113,600		4,327,070
	Bank of Kochi, Ltd. (The)	49,300		430,079
#	Bank of Nagoya, Ltd. (The)	98,330		3,106,769
	Bank of Okinawa, Ltd. (The)	157,160		5,241,440
	Bank of Saga, Ltd. (The)	97,400		1,875,309
	Bank of the Ryukyus, Ltd.	199,580		2,269,933
#	Bank of Toyama, Ltd. (The)	12,600		419,314
	Chiba Kogyo Bank, Ltd. (The)	416,600		1,648,259
	Chugoku Bank, Ltd. (The)	343,600		3,085,493
#	Chukyo Bank, Ltd. (The)	81,500		1,640,659

The Japanese Small Company Series
continued

		Shares	Value
FINANCIALS — (Continued)
	Daishi Hokuetsu Financial Group, Inc.	280,800	$	10,103,674
	Daito Bank, Ltd. (The)	62,800		513,633
	Dream Incubator, Inc.	14,100		225,498
	DSB Co., Ltd.	61,300		279,874
	eGuarantee, Inc.	205,600		1,919,855
	Ehime Bank, Ltd. (The)	229,600		2,366,483
	Eighteenth Bank, Ltd. (The)	104,800		2,853,256
#	Entrust, Inc.	48,900		202,688
	FIDEA Holdings Co., Ltd.	1,258,300		1,691,026
	Financial Products Group Co., Ltd.	491,100		4,794,388
#	First Bank of Toyama, Ltd. (The)	278,500		1,041,530
#	First Brothers Co., Ltd.	48,300		553,473
	Fukui Bank, Ltd. (The)	163,600		3,095,044
# *	Fukushima Bank, Ltd. (The)	190,600		1,017,948
	Fuyo General Lease Co., Ltd.	135,600		7,532,855
	GCA Corp.	92,700		741,429
#	GMO Financial Holdings, Inc.	164,600		1,063,728
	Hirose Tusyo, Inc.	25,100		488,409
	Hiroshima Bank, Ltd. (The)	402,400		2,482,043
	Hokkoku Bank, Ltd. (The)	174,200		6,392,044
	Hokuhoku Financial Group, Inc.	837,000		10,369,291
	Hyakugo Bank, Ltd. (The)	1,647,609		6,053,593
	Hyakujushi Bank, Ltd. (The)	163,100		4,168,591
	IBJ Leasing Co., Ltd.	197,000		4,946,163
	Ichiyoshi Securities Co., Ltd.	301,600		2,539,081
	IwaiCosmo Holdings, Inc.	144,900		1,852,946
#	J Trust Co., Ltd.	491,000		2,504,684
	Jaccs Co., Ltd.	177,800		3,333,378
	Jafco Co., Ltd.	233,300		8,989,108
# *	Japan Asia Investment Co., Ltd.	127,300		315,472
	Japan Investment Adviser Co., Ltd.	90,600		2,834,277
	Japan Securities Finance Co., Ltd.	793,100		4,441,713
	Jimoto Holdings, Inc.	1,008,300		1,318,335
	Juroku Bank, Ltd. (The)	237,000		5,351,798
	kabu.com Securities Co., Ltd.	1,024,600		3,698,161
*	Kansai Mirai Financial Group, Inc.	274,453		2,122,921
	Keiyo Bank, Ltd. (The)	788,500		5,749,865
	Kita-Nippon Bank, Ltd. (The)	52,906		1,178,624
	Kiyo Bank, Ltd. (The)	446,590		6,618,299
#	Kosei Securities Co., Ltd. (The)	35,799		340,372
	Kyokuto Securities Co., Ltd.	169,600		2,047,423
	Kyushu Financial Group, Inc.	282,627		1,247,240
	Kyushu Leasing Service Co., Ltd.	22,000		135,775
# *	M&A Capital Partners Co., Ltd.	52,800		2,596,394
#	Marusan Securities Co., Ltd.	401,800		3,094,090
	Mercuria Investment Co., Ltd.	79,600		592,059
	Michinoku Bank, Ltd. (The)	331,298		5,247,433
	Mito Securities Co., Ltd.	424,800		1,229,124
	Miyazaki Bank, Ltd. (The)	125,900		3,279,904
#	Monex Group, Inc.	1,453,600		5,700,811
#	Money Partners Group Co., Ltd.	162,900		523,501
	Musashino Bank, Ltd. (The)	202,400		5,462,012
	Nagano Bank, Ltd. (The)	55,699		846,239
	Nanto Bank, Ltd. (The)	188,800		4,317,543
	NEC Capital Solutions, Ltd.	71,300		1,120,415
#	Newton Financial Consulting, Inc.	3,300		53,104
	Nishi-Nippon Financial Holdings, Inc.	711,200		6,758,572

The Japanese Small Company Series
continued

		Shares	Value
FINANCIALS — (Continued)
	North Pacific Bank, Ltd.	2,096,400	$	6,286,505
#	OAK Capital Corp.	387,000		602,567
	Ogaki Kyoritsu Bank, Ltd. (The)	290,700		6,451,095
	Oita Bank, Ltd. (The)	88,889		2,939,945
	Okasan Securities Group, Inc.	1,139,000		5,453,281
	Ricoh Leasing Co., Ltd.	105,200		3,453,378
	San ju San Financial Group, Inc.	126,510		2,239,294
	San-In Godo Bank, Ltd. (The)	1,000,500		7,591,149
	Sawada Holdings Co., Ltd.	150,600		1,350,720
	Senshu Ikeda Holdings, Inc.	1,792,900		5,509,635
#	Shiga Bank, Ltd. (The)	340,200		7,891,071
	Shikoku Bank, Ltd. (The)	413,000		4,639,243
	Shimane Bank, Ltd. (The)	29,800		308,359
	Shimizu Bank, Ltd. (The)	25,400		429,686
#	Sparx Group Co., Ltd.	685,400		1,473,588
#	Strike Co., Ltd.	55,700		1,616,224
	Taiko Bank, Ltd. (The)	41,100		747,343
	Tochigi Bank, Ltd. (The)	555,800		1,616,652
	Toho Bank, Ltd. (The)	1,315,000		4,667,753
#	Tohoku Bank, Ltd. (The)	68,300		767,171
	Tokai Tokyo Financial Holdings, Inc.	1,534,800		7,923,106
#	Tokyo Kiraboshi Financial Group, Inc.	222,638		3,596,601
	Tomato Bank, Ltd.	54,700		664,934
	TOMONY Holdings, Inc.	974,950		3,778,686
#	Tottori Bank, Ltd. (The)	67,800		970,565
	Towa Bank, Ltd. (The)	167,100		1,360,765
	Toyo Securities Co., Ltd.	357,000		706,661
	Tsukuba Bank, Ltd.	284,400		636,933
# *	Uzabase, Inc.	91,000		1,957,051
#	Yamagata Bank, Ltd. (The)	204,300		4,148,806
	Yamanashi Chuo Bank, Ltd. (The)	237,100		3,387,759
TOTAL FINANCIALS				331,469,964
HEALTHCARE — (5.1%)
#	Advantage Risk Management Co., Ltd.	46,000		413,073
	As One Corp.	38,968		2,773,964
	ASKA Pharmaceutical Co., Ltd.	184,500		2,426,440
	Biofermin Pharmaceutical Co., Ltd.	24,800		632,365
	BML, Inc.	183,100		5,045,741
#	Carenet, Inc.	25,600		208,516
	Charm Care Corp. KK	43,200		605,129
	CMIC Holdings Co., Ltd.	86,100		1,598,557
	Create Medic Co., Ltd.	44,100		430,198
	Daiken Medical Co., Ltd.	120,900		900,458
	Daito Pharmaceutical Co., Ltd.	88,180		2,648,609
	Dvx, Inc.	45,800		540,404
	Eiken Chemical Co., Ltd.	220,900		4,943,781
#	Elan Corp.	50,900		1,246,571
#	EM Systems Co., Ltd.	136,400		1,396,202
	EPS Holdings, Inc.	236,700		4,621,910
	FALCO HOLDINGS Co., Ltd.	58,000		855,232
#	FINDEX, Inc.	124,100		709,030
	Fuji Pharma Co., Ltd.	117,600		1,850,256
	Fukuda Denshi Co., Ltd.	43,800		2,766,114
	Fuso Pharmaceutical Industries, Ltd.	47,000		1,118,611
	Hogy Medical Co., Ltd.	173,000		5,110,437

The Japanese Small Company Series
continued

		Shares	Value
HEALTHCARE — (Continued)
	I’rom Group Co., Ltd.	46,700	$	692,633
#	Iwaki & Co., Ltd.	193,000		927,375
*	Japan Animal Referral Medical Center Co., Ltd.	15,300		332,882
#	Japan Lifeline Co., Ltd.	222,500		3,243,834
	Japan Medical Dynamic Marketing, Inc.	119,100		1,398,664
	JCR Pharmaceuticals Co., Ltd.	115,000		4,875,094
	Jeol, Ltd.	189,500		3,122,168
	JMS Co., Ltd.	87,157		443,546
	Kanamic Network Co., Ltd.	40,600		716,720
	Kawasumi Laboratories, Inc.	96,180		576,470
	Kissei Pharmaceutical Co., Ltd.	195,100		5,605,970
*	Kubota Pharmaceutical Holdings Co., Ltd.	2,600		6,800
	KYORIN Holdings, Inc.	290,800		6,350,925
#	Linical Co., Ltd.	82,100		1,141,470
	Mani, Inc.	182,700		8,395,754
# *	Medical Data Vision Co., Ltd.	176,300		2,775,703
#	Medius Holdings Co., Ltd.	73,600		555,354
# *	MedPeer, Inc.	30,700		521,358
	Menicon Co., Ltd.	186,000		4,111,375
	Miraca Holdings, Inc.	413,600		10,068,684
	Mizuho Medy Co., Ltd.	27,400		607,974
	Mochida Pharmaceutical Co., Ltd.	99,799		7,890,029
	N Field Co., Ltd.	97,500		1,489,242
	Nagaileben Co., Ltd.	7,300		163,524
	Nakanishi, Inc.	283,300		6,628,051
	ND Software Co., Ltd.	9,600		107,316
	NichiiGakkan Co., Ltd.	302,500		2,817,605
#	Nichi-iko Pharmaceutical Co., Ltd.	331,550		4,516,441
	Nikkiso Co., Ltd.	472,400		5,485,052
	Nippon Chemiphar Co., Ltd.	17,100		629,529
	Nipro Corp.	667,500		8,500,090
	Nissui Pharmaceutical Co., Ltd.	83,900		928,498
	Paramount Bed Holdings Co., Ltd.	140,000		5,890,491
	Rion Co., Ltd.	69,700		1,392,494
	Sawai Pharmaceutical Co., Ltd.	130,000		6,589,964
#	Seed Co., Ltd.	106,200		1,640,646
	Seikagaku Corp.	145,700		2,159,476
# *	Shin Nippon Biomedical Laboratories, Ltd.	160,600		713,831
	Ship Healthcare Holdings, Inc.	292,000		10,557,506
	Shofu, Inc.	68,000		778,060
	Software Service, Inc.	25,100		1,895,965
	Solasto Corp.	368,200		3,885,660
	St-Care Holding Corp.	86,000		457,761
	Techno Medica Co., Ltd.	31,200		574,107
#	Toho Holdings Co., Ltd.	367,200		9,619,560
	Tokai Corp.	149,300		3,007,305
	Torii Pharmaceutical Co., Ltd.	114,500		2,526,424
	Towa Pharmaceutical Co., Ltd.	65,000		4,996,545
	Tsukui Corp.	419,300		3,599,498
	Uchiyama Holdings Co., Ltd.	26,400		113,358
	UNIMAT Retirement Community Co., Ltd.	24,500		388,372
#	Value HR Co., Ltd.	22,500		423,903
#	Vital KSK Holdings, Inc.	336,200		3,502,545
#	Wakamoto Pharmaceutical Co., Ltd.	112,300		266,410
	WIN-Partners Co., Ltd.	124,400		1,253,251
TOTAL HEALTHCARE				204,700,860

The Japanese Small Company Series
continued

		Shares	Value
INDUSTRIALS — (27.2%)
	A&A Material Corp.	26,000	$	241,960
#	Abist Co., Ltd.	22,400		734,915
	ACKG, Ltd.	3,900		70,441
#	Advan Co., Ltd.	183,900		1,855,214
#	Advanex, Inc.	22,099		382,799
	Aeon Delight Co., Ltd.	161,600		5,395,444
#	Aichi Corp.	271,800		1,612,639
	Aida Engineering, Ltd.	378,900		3,117,841
	Airtech Japan, Ltd.	22,000		141,086
	AIT Corp.	72,800		683,528
#	Ajis Co., Ltd.	30,700		971,607
#	Alconix Corp.	167,700		1,915,166
	Alinco, Inc.	99,200		897,786
	Alps Logistics Co., Ltd.	116,800		891,913
#	Altech Co., Ltd.	10,900		26,400
	Altech Corp.	117,900		2,359,385
	Anest Iwata Corp.	238,000		2,268,067
# *	Arrk Corp.	626,700		555,918
	Asahi Diamond Industrial Co., Ltd.	361,100		2,283,776
#	Asahi Kogyosha Co., Ltd.	30,100		874,745
	Asanuma Corp.	54,800		1,590,531
#	Asukanet Co., Ltd.	73,200		829,010
	Asunaro Aoki Construction Co., Ltd.	138,400		1,232,029
	Bando Chemical Industries, Ltd.	258,600		2,991,343
	BayCurrent Consulting, Inc.	98,200		2,008,359
	Bell System24 Holdings, Inc.	251,800		3,326,047
	Benefit One, Inc.	50,400		1,299,150
#	Br Holdings Corp.	201,400		765,692
#	Bunka Shutter Co., Ltd.	425,100		2,978,669
	Canare Electric Co., Ltd.	24,200		432,308
#	Career Co., Ltd.	16,400		217,772
	Career Design Center Co., Ltd.	38,200		521,418
	Central Glass Co., Ltd.	242,800		5,249,309
	Central Security Patrols Co., Ltd.	4,600		215,981
#	Chilled & Frozen Logistics Holdings Co., Ltd.	104,200		1,195,628
	Chiyoda Corp.	658,300		3,275,666
	Chiyoda Integre Co., Ltd.	85,600		1,718,939
	Chodai Co., Ltd.	3,900		29,548
	Chudenko Corp.	216,800		4,565,265
	Chugai Ro Co., Ltd.	45,100		960,848
	Chuo Warehouse Co., Ltd.	8,800		84,454
#	CKD Corp.	373,800		4,300,992
	CMC Corp.	14,600		275,748
	Comany, Inc.	4,700		57,850
	Cosel Co., Ltd.	174,000		1,790,279
#	Creek & River Co., Ltd.	80,900		746,304
	CTI Engineering Co., Ltd.	83,400		1,115,833
	CTS Co., Ltd.	195,500		1,052,317
	Dai-Dan Co., Ltd.	112,700		2,650,573
	Daido Kogyo Co., Ltd.	45,400		430,065
	Daihatsu Diesel Manufacturing Co., Ltd.	121,500		719,121
	Daihen Corp.	152,400		3,572,272
	Daiho Corp.	128,600		3,539,934
	Dai-Ichi Cutter Kogyo K.K.	28,500		565,474
	Daiichi Jitsugyo Co., Ltd.	66,600		2,201,862
	Daiichi Kensetsu Corp.	23,300		345,426
#	Daiki Axis Co., Ltd.	50,400		583,222

The Japanese Small Company Series
continued

		Shares	Value
INDUSTRIALS — (Continued)
*	Daikokuya Holdings Co., Ltd.	138,700	$	60,142
	Daiohs Corp.	16,600		193,936
	Daiseki Co., Ltd.	275,863		6,519,812
#	Daiseki Eco. Solution Co., Ltd.	46,559		373,172
	Daisue Construction Co., Ltd.	59,100		638,400
	Daiwa Industries, Ltd.	232,000		2,440,966
	Denyo Co., Ltd.	124,600		1,880,079
#	DMG Mori Co., Ltd.	301,000		4,342,878
	DMW Corp.	4,800		93,527
	Duskin Co., Ltd.	311,100		7,076,066
	Ebara Jitsugyo Co., Ltd.	42,700		712,232
	EF-ON, Inc.	110,520		1,060,973
	Eidai Co., Ltd.	152,000		633,135
# *	EnBio Holdings, Inc.	20,900		161,762
	Endo Lighting Corp.	17,200		119,108
# *	Enshu, Ltd.	36,099		467,787
#	EPCO Co., Ltd.	29,500		275,537
	ERI Holdings Co., Ltd.	1,500		12,851
#	Escrow Agent Japan, Inc.	182,500		762,372
	F&M Co., Ltd.	40,500		413,112
# *	FDK Corp.	66,298		666,564
#	Freund Corp.	86,600		673,443
	Fudo Tetra Corp.	125,780		1,913,531
#	Fuji Corp.	451,500		6,292,962
	Fuji Die Co., Ltd.	61,100		444,135
	Fuji Furukawa Engineering & Construction Co., Ltd.	1,200		20,989
	Fujikura, Ltd.	1,801,600		7,771,775
	Fujimak Corp.	12,600		111,034
#	Fujisash Co., Ltd.	677,400		570,148
	Fujitec Co., Ltd.	474,000		5,164,322
	Fukuda Corp.	77,200		3,177,938
	Fukushima Industries Corp.	91,700		4,177,007
	Fukuvi Chemical Industry Co., Ltd.	10,600		63,657
	Fukuyama Transporting Co., Ltd.	110,557		4,284,035
	FULLCAST Holdings Co., Ltd.	146,300		2,749,473
	Funai Soken Holdings, Inc.	280,270		5,926,313
#	Furukawa Co., Ltd.	238,400		2,947,603
	Furusato Industries, Ltd.	66,800		1,073,900
	Futaba Corp.	246,500		3,853,583
	G Three Holdings Corp.	12,600		9,173
	Gakujo Co., Ltd.	27,600		363,088
	Gecoss Corp.	102,800		980,026
#	Giken, Ltd.	120,600		4,062,986
	Glory, Ltd.	214,655		4,998,536
#	Grace Technology, Inc.	54,300		1,320,356
	GS Yuasa Corp.	417,599		8,572,136
	Hamakyorex Co., Ltd.	123,100		3,974,764
	Hanwa Co., Ltd.	255,300		8,360,820
	Hashimoto Sogyo Holdings Co., Ltd.	2,700		31,714
	Hazama Ando Corp.	1,328,800		9,175,851
#	Helios Techno Holdings Co., Ltd.	132,800		920,352
	Hibiya Engineering, Ltd.	144,700		2,388,420
	Hirakawa Hewtech Corp.	85,600		1,184,372
#	Hirano Tecseed Co., Ltd.	75,900		1,228,566
#	Hirata Corp.	62,400		3,847,545
	Hisaka Works, Ltd.	163,300		1,561,668
	Hitachi Zosen Corp.	1,236,079		4,697,608

The Japanese Small Company Series
continued

		Shares	Value
INDUSTRIALS — (Continued)
#	Hito Communications, Inc.	53,900	$	953,438
#	Hoden Seimitsu Kako Kenkyusho Co., Ltd.	35,600		391,931
	Hokuetsu Industries Co., Ltd.	161,100		1,562,641
	Hokuriku Electrical Construction Co., Ltd.	80,100		718,925
#	Hosokawa Micron Corp.	51,800		2,511,945
#	Howa Machinery, Ltd.	59,000		416,614
#	HyAS&Co, Inc.	30,100		91,829
	Ichikawa Co., Ltd.	1,000		13,854
#	Ichiken Co., Ltd.	35,400		690,398
	Ichinen Holdings Co., Ltd.	149,500		1,810,391
#	Idec Corp.	217,900		3,953,187
	Ihara Science Corp.	49,100		864,766
	Iino Kaiun Kaisha, Ltd.	650,500		2,854,658
	Inaba Denki Sangyo Co., Ltd.	179,100		7,211,092
	Inaba Seisakusho Co., Ltd.	68,100		830,366
	Inabata & Co., Ltd.	310,800		4,152,795
#	Insource Co., Ltd.	62,300		1,113,763
	Interworks, Inc.	8,400		66,553
	Inui Global Logistics Co., Ltd.	147,680		1,310,044
	IR Japan Holdings, Ltd.	61,000		732,686
	Iseki & Co., Ltd.	135,200		2,323,425
#	Ishii Iron Works Co., Ltd.	11,000		173,396
#	Isolite Insulating Products Co., Ltd.	70,000		314,808
	Itoki Corp.	252,700		1,312,838
	Iwaki Co., Ltd.	30,400		359,352
	Iwasaki Electric Co., Ltd.	35,800		471,398
#	Iwatani Corp.	264,600		9,346,753
	JAC Recruitment Co., Ltd.	107,800		1,950,880
	Jalux, Inc.	45,800		1,142,998
#	Jamco Corp.	74,400		2,105,001
#	Japan Asia Group, Ltd.	174,400		612,396
#	Japan Elevator Service Holdings Co., Ltd.	130,600		1,857,685
	Japan Foundation Engineering Co., Ltd.	130,900		418,664
	Japan Pulp & Paper Co., Ltd.	80,800		2,969,972
	Japan Steel Works, Ltd. (The)	294,300		6,219,246
#	Japan Transcity Corp.	268,200		1,050,170
	JK Holdings Co., Ltd.	108,540		696,511
# *	JMC Corp.	10,800		332,111
	Juki Corp.	215,700		2,415,507
	Kamei Corp.	167,800		1,933,468
	Kanaden Corp.	132,400		1,378,641
	Kanagawa Chuo Kotsu Co., Ltd.	42,000		1,395,622
#	Kanamoto Co., Ltd.	205,100		6,853,559
	Kandenko Co., Ltd.	652,100		6,642,346
	Kanematsu Corp.	571,525		7,338,339
	Katakura Industries Co., Ltd.	174,800		1,886,942
	Kato Works Co., Ltd.	62,800		1,801,815
	KAWADA TECHNOLOGIES, Inc.	48,400		2,784,915
#	Kawagishi Bridge Works Co., Ltd.	11,700		351,634
	Kawanishi Warehouse Co., Ltd.	1,700		25,116
#	Kawasaki Kinkai Kisen Kaisha, Ltd.	9,599		279,042
# *	Kawasaki Kisen Kaisha, Ltd.	640,100		8,529,652
	Kawata Manufacturing Co., Ltd.	26,900		536,798
#	Keihin Co., Ltd.	24,900		326,639
	KFC, Ltd.	7,000		129,594
# *	KI Holdings Co., Ltd.	109,000		344,819
	Kimura Chemical Plants Co., Ltd.	115,200		401,797

The Japanese Small Company Series
continued

		Shares	Value
INDUSTRIALS — (Continued)
	Kimura Unity Co., Ltd.	18,500	$	187,983
	King Jim Co., Ltd.	103,900		843,844
# *	Kinki Sharyo Co., Ltd. (The)	26,299		529,199
	Kintetsu World Express, Inc.	271,500		4,224,104
	Kitagawa Corp.	57,700		1,354,540
	Kitano Construction Corp.	25,672		862,659
	Kito Corp.	150,500		2,275,524
	Kitz Corp.	623,900		4,971,384
#	Kobayashi Metals, Ltd.	7,900		21,916
*	Kobe Electric Railway Co., Ltd.	31,199		1,103,881
#	Kobelco Eco-Solutions Co., Ltd.	21,399		345,934
	Koike Sanso Kogyo Co., Ltd.	14,500		326,216
#	Kokusai Co., Ltd.	51,600		367,984
	Kokuyo Co., Ltd.	558,125		8,810,923
	KOMAIHALTEC, Inc.	25,700		494,503
	Komatsu Wall Industry Co., Ltd.	53,500		983,016
	Komori Corp.	388,800		4,207,536
	Kondotec, Inc.	132,700		1,203,833
	Konoike Transport Co., Ltd.	190,900		2,886,857
	Kosaido Co., Ltd.	212,900		864,935
#	Kozo Keikaku Engineering, Inc.	21,600		407,745
	KRS Corp.	45,700		1,028,910
	Kumagai Gumi Co., Ltd.	264,200		6,900,467
#	Kuroda Precision Industries, Ltd.	16,300		266,046
	Kyodo Printing Co., Ltd.	54,000		1,355,831
	Kyokuto Boeki Kaisha, Ltd.	46,000		813,045
	Kyokuto Kaihatsu Kogyo Co., Ltd.	235,200		3,357,698
	Kyoritsu Printing Co., Ltd.	199,200		455,352
#	Like Co., Ltd.	69,000		1,009,450
#	Link And Motivation, Inc.	249,100		2,448,513
	Lonseal Corp.	13,900		232,266
	Luckland Co., Ltd.	25,600		671,735
	Maeda Corp.	485,400		5,484,855
	Maeda Kosen Co., Ltd.	151,400		2,931,419
	Maeda Road Construction Co., Ltd.	460,200		8,382,048
#	Maezawa Industries, Inc.	25,300		90,103
	Maezawa Kasei Industries Co., Ltd.	95,100		946,328
	Maezawa Kyuso Industries Co., Ltd.	74,400		1,200,106
	Makino Milling Machine Co., Ltd.	159,900		6,085,478
	Marubeni Construction Material Lease Co., Ltd.	3,900		75,321
	Marufuji Sheet Piling Co., Ltd.	11,800		261,153
	Maruka Machinery Co., Ltd.	42,900		902,011
#	Marumae Co., Ltd.	47,000		318,585
#	Maruwa Unyu Kikan Co., Ltd.	79,900		2,555,623
	Maruyama Manufacturing Co., Inc.	27,900		404,134
	Maruzen Co., Ltd.	66,600		1,347,386
	Maruzen Showa Unyu Co., Ltd.	73,800		1,951,622
	Matching Service Japan Co., Ltd.	58,000		856,340
	Matsuda Sangyo Co., Ltd.	102,182		1,268,627
	Matsui Construction Co., Ltd.	140,300		1,025,981
	Max Co., Ltd.	206,800		2,784,125
	Meidensha Corp.	271,410		3,845,034
	Meiji Electric Industries Co., Ltd.	51,600		944,451
#	Meiji Shipping Co., Ltd.	111,000		374,753
	Meisei Industrial Co., Ltd.	295,100		2,230,332
	Meitec Corp.	191,500		8,022,437
	Meiwa Corp.	173,800		668,199

The Japanese Small Company Series
continued

		Shares	Value
INDUSTRIALS — (Continued)
#	Mesco, Inc.	29,800	$	315,166
	METAWATER Co., Ltd.	43,100		1,105,179
#	Mie Kotsu Group Holdings, Inc.	370,300		1,719,158
#	Mirait Holdings Corp.	438,355		7,078,027
#	Mitani Corp.	73,800		3,520,508
	Mitani Sangyo Co., Ltd.	126,800		361,693
	Mitsubishi Kakoki Kaisha, Ltd.	42,100		625,078
	Mitsubishi Logisnext Co., Ltd.	214,200		2,546,832
#	Mitsubishi Logistics Corp.	109,700		2,514,923
	Mitsubishi Pencil Co., Ltd.	248,800		4,336,694
	Mitsuboshi Belting, Ltd.	159,500		3,918,385
*	Mitsui E&S Holdings Co., Ltd.	563,200		9,457,332
	Mitsui Matsushima Holdings Co., Ltd.	65,700		1,030,049
*	Mitsui-Soko Holdings Co., Ltd.	167,200		2,581,489
#	Mitsumura Printing Co., Ltd.	9,300		193,334
	Miyaji Engineering Group, Inc.	46,517		1,121,265
#	Mori-Gumi Co., Ltd.	69,500		211,405
	Morita Holdings Corp.	210,200		4,002,339
#	Musashi Co., Ltd.	5,000		100,966
	NAC Co., Ltd.	84,100		815,269
#	Nachi-Fujikoshi Corp.	126,200		5,139,860
#	Nadex Co., Ltd.	40,600		383,067
	Nagase & Co., Ltd.	493,700		7,754,582
	Naigai Trans Line, Ltd.	42,000		602,926
	Nakabayashi Co., Ltd.	105,900		591,192
	Nakakita Seisakusho Co., Ltd.	3,700		100,897
	Nakamoto Packs Co., Ltd.	37,100		605,835
# *	Nakamura Choukou Co., Ltd.	31,000		378,361
	Nakanishi Manufacturing Co., Ltd.	5,700		60,849
	Nakano Corp.	108,100		621,721
#	Namura Shipbuilding Co., Ltd.	384,428		1,708,376
	Narasaki Sangyo Co., Ltd.	25,400		434,383
	Nexyz Group Corp.	53,500		922,673
	Nichias Corp.	440,500		9,598,574
	Nichiban Co., Ltd.	78,100		1,517,196
	Nichiden Corp.	97,400		1,579,823
	Nichiha Corp.	196,280		4,334,668
	Nichireki Co., Ltd.	184,800		1,692,798
#	Nihon Dengi Co., Ltd.	30,200		795,376
	Nihon Flush Co., Ltd.	69,500		1,331,759
	Nikkato Corp.	57,200		580,894
	Nikko Co., Ltd.	36,700		804,889
	Nikkon Holdings Co., Ltd.	436,100		10,538,138
	Nippi, Inc.	11,900		322,821
	Nippo Corp.	114,600		1,878,891
	Nippon Air Conditioning Services Co., Ltd.	202,100		1,383,780
#	Nippon Aqua Co., Ltd.	108,500		347,201
#	Nippon Carbon Co., Ltd.	75,000		4,241,216
	Nippon Concept Corp.	38,900		390,470
	Nippon Densetsu Kogyo Co., Ltd.	251,400		5,083,362
	Nippon Dry-Chemical Co., Ltd.	1,800		20,626
#	Nippon Filcon Co., Ltd.	20,500		105,357
	Nippon Hume Corp.	159,300		1,279,456
	Nippon Kanzai Co., Ltd.	82,100		1,498,563
	Nippon Koei Co., Ltd.	87,900		1,978,603
	Nippon Parking Development Co., Ltd.	1,538,900		2,157,255
	Nippon Rietec Co., Ltd.	9,300		120,886

The Japanese Small Company Series
continued

		Shares	Value
INDUSTRIALS — (Continued)
	Nippon Road Co., Ltd. (The)	49,300	$	2,724,912
#	Nippon Seisen Co., Ltd.	23,500		723,249
# *	Nippon Sharyo, Ltd.	51,499		1,354,168
#	Nippon Sheet Glass Co., Ltd.	676,600		5,724,274
	Nippon Steel & Sumikin Bussan Corp.	108,460		4,724,209
	Nippon Thompson Co., Ltd.	462,800		2,676,323
#	Nippon Tungsten Co., Ltd.	6,699		143,223
	Nishimatsu Construction Co., Ltd.	392,400		9,147,000
#	Nishi-Nippon Railroad Co., Ltd.	407,700		10,087,015
	Nishio Rent All Co., Ltd.	127,400		4,105,049
#	Nissei ASB Machine Co., Ltd.	60,500		2,027,384
	Nissei Corp.	38,900		418,789
	Nissei Plastic Industrial Co., Ltd.	175,800		1,635,206
	Nisshinbo Holdings, Inc.	1,109,780		12,217,161
	Nissin Corp.	108,200		2,079,470
#	Nissin Electric Co., Ltd.	404,400		3,303,829
	Nitta Corp.	147,100		5,338,913
	Nitto Boseki Co., Ltd.	203,100		4,012,928
	Nitto Kogyo Corp.	190,100		3,310,836
	Nitto Kohki Co., Ltd.	78,000		1,624,713
	Nitto Seiko Co., Ltd.	223,700		1,235,932
#	Nittoc Construction Co., Ltd.	192,700		1,258,900
	Nittoku Engineering Co., Ltd.	109,000		2,889,906
	NJS Co., Ltd.	42,800		666,155
#	nms Holdings Co.	72,900		338,859
	Noda Corp.	145,800		1,337,293
	Nomura Co., Ltd.	292,100		6,633,846
	Noritake Co., Ltd.	75,800		3,784,600
	Noritz Corp.	209,100		3,036,308
	NS Tool Co., Ltd.	59,500		1,402,392
	NS United Kaiun Kaisha, Ltd.	66,600		1,624,303
#	NTN Corp.	683,400		2,499,630
	Obara Group, Inc.	86,000		3,381,186
	Ochi Holdings Co., Ltd.	6,300		69,725
#	Odawara Engineering Co., Ltd.	6,500		125,387
	Odelic Co., Ltd.	26,800		987,798
#	Ohba Co., Ltd.	88,400		536,211
	Ohmoto Gumi Co., Ltd.	4,100		176,534
	Oiles Corp.	168,070		3,086,174
	Okabe Co., Ltd.	284,800		2,531,875
	Okada Aiyon Corp.	43,200		620,999
#	Okamoto Machine Tool Works, Ltd.	26,799		738,142
	Okamura Corp.	485,000		6,611,113
#	OKK Corp.	28,700		268,837
	OKUMA Corp.	178,900		8,932,577
	Okumura Corp.	223,280		7,046,765
#	Onoken Co., Ltd.	127,300		1,856,904
	Organo Corp.	53,300		1,481,029
	Origin Electric Co., Ltd.	25,800		368,569
	OSG Corp.	421,100		8,689,012
	OSJB Holdings Corp.	997,200		2,519,047
#	Outsourcing, Inc.	429,100		5,438,715
	Oyo Corp.	171,900		1,961,356
#	Paraca, Inc.	37,000		674,402
	Parker Corp.	34,000		172,263
# *	Pasco Corp.	27,400		283,455
	Pasona Group, Inc.	131,800		1,603,477

The Japanese Small Company Series
continued

		Shares	Value
INDUSTRIALS — (Continued)
#	Pegasus Sewing Machine Manufacturing Co., Ltd.	149,200	$	1,048,421
	Penta-Ocean Construction Co., Ltd.	2,073,400		12,404,450
# *	Phil Co., Inc.	22,100		785,399
	Pilot Corp.	51,000		2,817,147
	Prestige International, Inc.	361,500		4,115,489
	Pronexus, Inc.	125,000		1,214,796
#	PS Mitsubishi Construction Co., Ltd.	230,100		1,279,275
	Punch Industry Co., Ltd.	126,700		722,828
	Quick Co., Ltd.	76,900		1,238,571
	Raito Kogyo Co., Ltd.	353,200		4,770,896
	Rasa Corp.	61,500		509,834
# *	Refinverse, Inc.	15,900		172,673
	Relia, Inc.	207,800		2,294,888
	Rheon Automatic Machinery Co., Ltd.	145,400		2,485,852
#	Rix Corp.	17,100		239,197
# *	Rozetta Corp.	38,800		652,407
	Ryobi, Ltd.	183,640		5,330,392
#	S LINE Co., Ltd.	23,800		253,829
	Sakai Heavy Industries, Ltd.	24,500		723,607
	Sakai Moving Service Co., Ltd.	79,400		4,097,016
# *	Sanix, Inc.	222,500		474,287
	Sanki Engineering Co., Ltd.	339,100		3,323,366
#	Sanko Gosei, Ltd.	139,300		485,597
#	Sanko Metal Industrial Co., Ltd.	16,700		449,308
	Sankyo Tateyama, Inc.	210,500		2,368,501
#	Sanoyas Holdings Corp.	159,500		317,980
#	Sansei Technologies, Inc.	77,700		1,069,135
#	Sansha Electric Manufacturing Co., Ltd.	73,000		710,200
	Sanyo Denki Co., Ltd.	16,500		674,784
	Sanyo Engineering & Construction, Inc.	78,500		441,151
	Sanyo Industries, Ltd.	9,900		179,596
	Sanyo Trading Co., Ltd.	81,700		1,281,647
#	Sata Construction Co., Ltd.	91,299		332,364
	Sato Holdings Corp.	196,300		5,800,806
	Sato Shoji Corp.	90,200		865,610
	Sawafuji Electric Co., Ltd.	1,900		34,300
	SBS Holdings, Inc.	147,000		1,860,668
#	Secom Joshinetsu Co., Ltd.	32,000		959,752
	Seibu Electric & Machinery Co., Ltd.	5,000		51,520
#	Seika Corp.	67,000		1,057,821
*	Seikitokyu Kogyo Co., Ltd.	205,730		1,173,697
	Sekisui Jushi Corp.	204,200		3,705,720
	Senko Group Holdings Co., Ltd.	799,900		6,216,564
#	Senshu Electric Co., Ltd.	58,600		1,353,570
	Shibusawa Warehouse Co., Ltd. (The)	63,100		891,034
	Shibuya Corp.	110,500		3,713,448
	Shima Seiki Manufacturing, Ltd.	45,300		1,221,472
	Shin Nippon Air Technologies Co., Ltd.	100,280		1,583,912
#	Shin-Keisei Electric Railway Co., Ltd.	41,099		779,131
	Shinmaywa Industries, Ltd.	638,600		7,862,025
	Shinnihon Corp.	197,100		1,867,413
	Shinsho Corp.	37,300		917,665
	Shinwa Co., Ltd.	66,100		1,300,519
*	Shoko Co., Ltd.	44,400		319,892
#	Showa Aircraft Industry Co., Ltd.	48,937		570,881
#	SIGMAXYZ, Inc.	123,800		1,147,292
#	Sinfonia Technology Co., Ltd.	167,200		2,186,541

The Japanese Small Company Series
continued

		Shares	Value
INDUSTRIALS — (Continued)
	Sinko Industries, Ltd.	142,200	$	2,032,774
	Sintokogio, Ltd.	322,200		2,775,876
	SMS Co., Ltd.	490,700		8,230,204
	Soda Nikka Co., Ltd.	126,500		723,504
#	Sodick Co., Ltd.	322,900		2,432,450
#	Space Co., Ltd.	100,062		1,112,783
#	S-Pool, Inc.	73,100		981,189
	Srg Takamiya Co., Ltd.	135,200		790,005
#	Star Micronics Co., Ltd.	261,900		3,720,414
#	Subaru Enterprise Co., Ltd.	8,500		398,641
	Sugimoto & Co., Ltd.	70,500		1,219,624
#	Sumiseki Holdings, Inc.	427,300		462,779
	Sumitomo Densetsu Co., Ltd.	129,500		2,050,030
	Sumitomo Mitsui Construction Co., Ltd.	1,242,640		7,795,564
	Sumitomo Precision Products Co., Ltd.	20,684		671,321
	Sumitomo Warehouse Co., Ltd. (The)	431,700		5,061,330
	Suzumo Machinery Co., Ltd.	2,200		28,937
	SWCC Showa Holdings Co., Ltd.	98,700		614,032
#	Tacmina Corp.	14,200		200,587
	Tadano, Ltd.	519,800		5,568,406
	Taihei Dengyo Kaisha, Ltd.	119,600		2,818,081
	Taiheiyo Kouhatsu, Inc.	44,200		355,415
	Taikisha, Ltd.	170,500		4,811,274
	Taisei Oncho Co., Ltd.	13,300		243,311
	Takadakiko Co., Ltd.	7,500		182,760
	Takagi Seiko Corp.	5,200		64,865
	Takamatsu Construction Group Co., Ltd.	102,300		2,615,663
	Takamatsu Machinery Co., Ltd.	41,800		370,390
	Takano Co., Ltd.	58,700		455,421
	Takaoka Toko Co., Ltd.	53,420		766,998
#	Takara Printing Co., Ltd.	28,155		443,507
	Takara Standard Co., Ltd.	259,900		4,013,014
	Takasago Thermal Engineering Co., Ltd.	341,800		5,840,548
#	Takashima & Co., Ltd.	26,600		459,325
	Takeei Corp.	162,900		1,034,971
	Takeuchi Manufacturing Co., Ltd.	258,000		5,335,988
	Takigami Steel Construction Co., Ltd. (The)	5,300		230,026
	Takisawa Machine Tool Co., Ltd.	45,100		626,614
	Takuma Co., Ltd.	507,200		6,464,962
#	TANABE ENGINEERING Corp.	41,000		293,801
	Tanseisha Co., Ltd.	275,949		2,809,481
	Tatsuta Electric Wire and Cable Co., Ltd.	313,500		1,385,838
	TECHNO ASSOCIE Co., Ltd.	56,800		584,354
	Techno Ryowa, Ltd.	71,390		543,848
#	Techno Smart Corp.	60,000		415,011
	TechnoPro Holdings, Inc.	107,700		5,610,824
	Teikoku Electric Manufacturing Co., Ltd.	134,300		1,928,725
	Teikoku Sen-I Co., Ltd.	141,000		3,095,930
	Tekken Corp.	99,400		2,481,750
#	Tenox Corp.	22,500		183,337
	Teraoka Seisakusho Co., Ltd.	78,800		386,483
	Terasaki Electric Co., Ltd.	24,400		235,398
	Toa Corp. (6894508)	112,500		1,883,440
	TOA ROAD Corp.	26,600		850,050
#	Toba, Inc.	9,500		242,482
	Tobishima Corp.	148,170		2,258,931
	Tocalo Co., Ltd.	454,400		3,954,262

The Japanese Small Company Series
continued

		Shares	Value
INDUSTRIALS — (Continued)
	Toenec Corp.	56,400	$	1,629,328
#	Togami Electric Manufacturing Co., Ltd.	17,800		227,894
	TOKAI Holdings Corp.	680,500		5,685,785
	Tokai Lease Co., Ltd.	19,300		339,425
	Tokyo Energy & Systems, Inc.	185,400		1,610,431
#	Tokyo Keiki, Inc.	62,222		581,416
	Tokyo Sangyo Co., Ltd.	142,300		782,675
	Tokyu Construction Co., Ltd.	604,400		5,467,231
	Toli Corp.	279,900		731,322
	Tomoe Corp.	133,000		517,853
#	Tomoe Engineering Co., Ltd.	56,800		1,100,600
	Tonami Holdings Co., Ltd.	40,900		2,269,824
	Toppan Forms Co., Ltd.	344,500		3,131,619
#	Torishima Pump Manufacturing Co., Ltd.	140,100		1,153,141
	Toshiba Machine Co., Ltd.	157,200		2,976,956
	Toshiba Plant Systems & Services Corp.	272,950		5,579,210
#	Tosho Printing Co., Ltd.	161,299		1,298,091
	Totech Corp.	57,000		1,587,044
	Totetsu Kogyo Co., Ltd.	175,500		4,331,582
	Totoku Electric Co., Ltd.	20,900		365,681
	Toyo Construction Co., Ltd.	589,600		2,414,488
#	Toyo Denki Seizo K.K.	39,850		565,506
# *	Toyo Engineering Corp.	228,778		1,844,029
	Toyo Logistics Co., Ltd.	80,800		222,827
	Toyo Machinery & Metal Co., Ltd.	120,500		660,404
	Toyo Tanso Co., Ltd.	77,200		2,011,419
#	Toyo Wharf & Warehouse Co., Ltd.	41,300		570,452
	Trancom Co., Ltd.	54,400		3,114,842
#	Trinity Industrial Corp.	36,000		193,837
#	Trusco Nakayama Corp.	335,300		8,460,218
	Trust Tech, Inc.	71,500		2,176,793
	Tsubaki Nakashima Co., Ltd.	320,800		5,899,776
	Tsubakimoto Chain Co.	186,740		7,170,141
	Tsubakimoto Kogyo Co., Ltd.	29,400		827,395
# *	Tsudakoma Corp.	31,998		586,993
	Tsugami Corp.	375,000		3,361,438
	Tsukishima Kikai Co., Ltd.	202,200		2,387,115
	Tsurumi Manufacturing Co., Ltd.	133,000		2,372,941
	Uchida Yoko Co., Ltd.	59,400		1,447,860
	Ueki Corp.	34,800		752,077
	Union Tool Co.	58,000		1,997,795
	Ushio, Inc.	787,200		9,497,959
# *	UT Group Co., Ltd.	181,600		5,477,499
	Utoc Corp.	102,200		493,036
	Wakachiku Construction Co., Ltd.	105,200		1,384,737
	Wakita & Co., Ltd.	285,900		3,081,296
	WDB Holdings Co., Ltd.	63,800		1,780,928
	Weathernews, Inc.	42,800		1,260,624
#	Will Group, Inc.	107,900		922,954
	World Holdings Co., Ltd.	54,900		1,327,876
	Yahagi Construction Co., Ltd.	200,200		1,438,481
	YAMABIKO Corp.	250,928		2,696,150
#	YAMADA Consulting Group Co., Ltd.	77,100		1,785,828
#	Yamashina Corp.	208,800		152,530
	Yamato Corp.	117,000		676,811
#	Yamaura Corp.	55,000		421,538
	Yamazen Corp.	431,200		4,719,450

The Japanese Small Company Series
continued

		Shares	Value
INDUSTRIALS — (Continued)
	Yasuda Logistics Corp.	122,200	$	940,009
	Yokogawa Bridge Holdings Corp.	221,100		3,586,857
#	Yondenko Corp.	28,060		638,491
	Yuasa Trading Co., Ltd.	117,500		3,854,532
	Yuken Kogyo Co., Ltd.	24,000		449,023
#	Yumeshin Holdings Co., Ltd.	316,400		2,704,404
	Yurtec Corp.	274,700		2,069,620
	Zaoh Co., Ltd.	21,500		271,749
#	Zenitaka Corp. (The)	19,300		952,304
	Zuiko Corp.	29,000		777,311
TOTAL INDUSTRIALS				1,094,861,970
INFORMATION TECHNOLOGY — (12.4%)
#	A&D Co., Ltd.	128,700		934,374
# *	Access Co., Ltd.	224,000		1,977,191
	Ad-sol Nissin Corp.	47,900		908,927
#	Adtec Plasma Technology Co., Ltd.	42,400		435,411
	AGS Corp.	11,600		77,712
	Ai Holdings Corp.	277,300		5,289,568
	Aichi Tokei Denki Co., Ltd.	19,900		729,779
	Aiphone Co., Ltd.	74,900		974,282
# *	Allied Telesis Holdings KK	486,100		466,638
	Alpha Systems, Inc.	57,660		1,372,917
	Amano Corp.	438,200		9,317,651
	AOI Electronic Co., Ltd.	31,400		1,018,657
# *	Apic Yamada Corp.	71,800		147,862
	Argo Graphics, Inc.	62,500		2,368,058
	Arisawa Manufacturing Co., Ltd.	200,900		1,595,212
#	ArtSpark Holdings, Inc.	53,700		530,541
	Asahi Intelligence Service Co., Ltd.	1,300		13,057
#	Aval Data Corp.	30,700		535,992
	Avant Corp.	50,800		694,235
#	Axell Corp.	44,900		241,002
	Azia Co., Ltd.	14,300		167,921
#	Billing System Corp.	15,900		1,016,350
# *	BrainPad, Inc.	34,400		1,575,065
#	Broadleaf Co., Ltd.	671,900		3,880,186
	Business Brain Showa-Ota, Inc.	8,100		160,076
	CAC Holdings Corp.	97,600		869,639
	Canon Electronics, Inc.	144,300		2,637,101
#	Capital Asset Planning, Inc.	10,600		326,341
	CDS Co., Ltd.	13,200		143,937
# *	Change, Inc.	10,100		424,557
	Chino Corp.	47,400		539,662
	Citizen Watch Co., Ltd.	1,367,100		7,868,973
	CMK Corp.	373,100		2,391,473
	Computer Engineering & Consulting, Ltd.	176,000		3,786,819
	Computer Institute of Japan, Ltd.	111,900		745,570
	Comture Corp.	77,600		2,364,084
	CONEXIO Corp.	116,700		1,683,810
#	Core Corp.	47,700		571,587
#	Cresco, Ltd.	44,500		1,256,776
	Cube System, Inc.	55,200		421,208
#	Cyber Com Co., Ltd.	6,800		104,511
	Cybernet Systems Co., Ltd.	31,000		176,504
	Cybozu, Inc.	173,700		1,105,709

The Japanese Small Company Series
continued

		Shares	Value
INFORMATION TECHNOLOGY — (Continued)
	Dai-ichi Seiko Co., Ltd.	67,700	$	854,821
#	Daiko Denshi Tsushin, Ltd.	40,000		254,669
	Daishinku Corp.	66,899		660,529
	Daitron Co., Ltd.	66,000		1,131,922
	Daiwabo Holdings Co., Ltd.	125,500		7,404,339
	Denki Kogyo Co., Ltd.	74,900		1,914,940
	Densan System Co., Ltd.	44,300		859,140
#	Dexerials Corp.	439,200		3,770,186
#	Digital Arts, Inc.	86,200		3,942,396
#	Digital Hearts Holdings Co., Ltd.	116,200		1,442,432
#	Digital Information Technologies Corp.	66,600		865,904
#	Double Standard, Inc.	16,300		721,168
	DTS Corp.	153,000		5,315,664
# *	E-Guardian, Inc.	70,400		1,491,995
	Eizo Corp.	120,800		4,916,750
	Elecom Co., Ltd.	125,600		2,973,709
	Elematec Corp.	60,971		1,298,821
#	Enomoto Co., Ltd.	30,200		249,056
	Enplas Corp.	62,800		1,706,003
	ESPEC Corp.	143,600		2,554,098
#	Excel Co., Ltd.	50,400		859,221
#	Fenwal Controls of Japan, Ltd.	20,600		289,291
	Ferrotec Holdings Corp.	251,000		2,278,078
# *	FFRI, Inc.	31,200		974,201
#	Fixstars Corp.	151,000		1,638,036
	Forval Corp.	52,300		480,178
# *	Fronteo, Inc.	131,000		969,181
#	FTGroup Co., Ltd.	74,000		936,418
	Fuji Soft, Inc.	168,800		7,733,969
	Fujitsu Frontech, Ltd.	87,000		969,742
	Fukui Computer Holdings, Inc.	56,000		891,100
	Furuno Electric Co., Ltd.	184,300		2,185,512
	Furuya Metal Co., Ltd.	6,700		405,475
	Future Corp.	169,200		2,302,865
#	Future Innovation Group, Inc.	17,400		66,824
#	Geomatec Co., Ltd.	29,900		221,169
	GL Sciences, Inc.	42,900		582,645
	GMO Cloud K.K.	26,700		725,058
*	Gunosy, Inc.	106,500		2,808,200
	Hagiwara Electric Holdings Co., Ltd.	51,100		1,345,564
	Hakuto Co., Ltd.	98,100		1,111,372
#	Hibino Corp.	27,500		342,554
	Hioki EE Corp.	68,400		2,419,981
	Hochiki Corp.	129,700		1,589,397
#	Hokuriku Electric Industry Co., Ltd.	48,200		490,476
#	Honda Tsushin Kogyo Co., Ltd.	128,900		674,290
	Hosiden Corp.	405,700		3,729,769
*	Hotto Link, Inc.	52,400		302,412
	Ibiden Co., Ltd.	810,078		10,002,971
	Icom, Inc.	77,500		1,652,770
#	Ikegami Tsushinki Co., Ltd.	44,299		477,650
	Ines Corp.	170,000		1,983,961
	I-Net Corp.	77,390		1,117,748
	Infocom Corp.	87,300		3,270,133
#	Infomart Corp.	683,400		7,092,672
	Information Development Co., Ltd.	52,100		724,948
	Information Services International-Dentsu, Ltd.	85,900		2,954,639

The Japanese Small Company Series
continued

		Shares	Value
INFORMATION TECHNOLOGY — (Continued)
	Innotech Corp.	118,400	$	1,325,958
#	Intelligent Wave, Inc.	74,800		680,940
#	Inter Action Corp.	71,700		1,325,015
	I-O Data Device, Inc.	54,300		641,984
*	iRidge	2,300		22,492
#	Iriso Electronics Co., Ltd.	138,800		5,862,062
	ISB Corp.	27,900		587,978
#	Ishii Hyoki Co., Ltd.	31,000		233,822
# *	ITbook Holdings Co., Ltd.	106,400		486,572
	Itfor, Inc.	34,400		257,070
	ITmedia, Inc.	20,400		105,172
	Iwatsu Electric Co., Ltd.	66,600		466,031
	Japan Aviation Electronics Industry, Ltd.	344,000		4,555,231
#	Japan Cash Machine Co., Ltd.	145,500		1,433,075
# *	Japan Display, Inc.	3,630,000		3,508,616
#	Japan Electronic Materials Corp.	51,800		348,558
	Japan Material Co., Ltd.	435,100		5,111,461
	Jastec Co., Ltd.	86,100		848,285
	JBCC Holdings, Inc.	116,400		1,526,179
# *	JIG-SAW, Inc.	32,400		803,701
	Justsystems Corp.	241,700		4,957,361
	Kaga Electronics Co., Ltd.	128,300		2,873,375
	Kanematsu Electronics, Ltd.	85,500		2,627,142
	KEL Corp.	27,900		239,967
	Koa Corp.	111,500		1,543,024
#	Kyoden Co., Ltd.	150,600		739,022
	Kyosan Electric Manufacturing Co., Ltd.	311,700		1,453,658
	Kyowa Electronic Instruments Co., Ltd.	156,600		561,792
	LAC Co., Ltd.	116,300		1,824,332
	Lasertec Corp.	283,800		8,170,818
	Macnica Fuji Electronics Holdings, Inc.	356,350		5,151,675
#	Mamezou Holdings Co., Ltd.	120,600		977,699
	Marubun Corp.	112,200		772,191
#	Maruwa Co., Ltd.	65,100		3,679,121
	Maxell Holdings, Ltd.	364,400		4,643,430
	MCJ Co., Ltd.	493,700		3,930,898
#	Megachips Corp.	135,600		2,603,151
	Meiko Electronics Co., Ltd.	165,600		4,141,244
#	Micronics Japan Co., Ltd.	218,200		1,395,002
#	Mimaki Engineering Co., Ltd.	129,400		1,328,884
	Mimasu Semiconductor Industry Co., Ltd.	129,981		1,706,206
#	Miraial Co., Ltd.	48,000		436,689
	Miroku Jyoho Service Co., Ltd.	132,100		2,490,678
	Mitachi Co., Ltd.	17,900		125,885
	Mitsubishi Research Institute, Inc.	52,500		1,639,007
#	Mitsui High-Tec, Inc.	187,800		2,017,527
#	m-up, Inc.	48,100		977,056
#	Mutoh Holdings Co., Ltd.	14,600		293,928
	Nagano Keiki Co., Ltd.	94,900		789,369
#	Naigai Tec Corp.	13,100		188,882
	Nakayo, Inc.	78,000		1,069,897
	NEC Networks & System Integration Corp.	169,200		3,687,889
	NEOJAPAN, Inc.	6,300		48,845
	NET One Systems Co., Ltd.	545,000		11,410,271
	NF Corp.	18,400		348,526
	Nichicon Corp.	354,000		2,945,032
# *	Nihon Dempa Kogyo Co., Ltd.	3,900		17,018

The Japanese Small Company Series
continued

		Shares	Value
INFORMATION TECHNOLOGY — (Continued)
	Nihon Denkei Co., Ltd.	30,100	$	438,733
	Nippon Ceramic Co., Ltd.	62,200		1,524,761
	Nippon Chemi-Con Corp.	83,600		1,893,006
#	Nippon Computer Dynamics Co., Ltd.	43,600		421,669
#	Nippon Information Development Co., Ltd.	4,200		145,092
#	Nippon Kodoshi Corp.	58,100		1,313,285
	Nippon Signal Co., Ltd.	366,700		3,357,554
	Nippon Systemware Co., Ltd.	55,400		1,149,439
#	Nissha Co., Ltd.	269,500		4,385,780
	Nohmi Bosai, Ltd.	159,500		3,357,989
	Noritsu Koki Co., Ltd.	141,300		3,175,278
	NSD Co., Ltd.	266,280		5,637,632
	NuFlare Technology, Inc.	33,600		1,688,402
*	Ohizumi Mfg. Co., Ltd.	27,100		189,713
#	Okaya Electric Industries Co., Ltd.	81,500		341,321
	Oki Electric Industry Co., Ltd.	627,500		8,588,853
	ONO Sokki Co., Ltd.	37,400		247,542
#	Optex Group Co., Ltd.	243,520		4,437,050
	Oro Co., Ltd.	19,500		890,994
	Osaki Electric Co., Ltd.	315,600		2,017,089
#	Oval Corp.	35,600		85,839
#	Paltek Corp.	38,500		219,328
	PCI Holdings Inc/JP	3,600		90,400
	Poletowin Pitcrew Holdings, Inc.	108,300		2,424,190
	Pro-Ship, Inc.	18,600		412,282
#	Rakus Co., Ltd.	119,600		2,195,276
#	RECOMM Co., Ltd.	493,100		954,359
#	Remixpoint, Inc.	207,500		1,391,553
#	Renesas Easton Co., Ltd.	105,100		448,831
	Riken Keiki Co., Ltd.	114,300		2,255,995
	Riso Kagaku Corp.	134,300		2,832,516
	Roland DG Corp.	94,200		2,006,061
#	Rorze Corp.	81,000		1,387,586
	RS Technologies Co., Ltd.	40,300		1,633,758
	Ryoden Corp.	108,900		1,513,426
	Ryosan Co., Ltd.	188,800		5,432,278
	Ryoyo Electro Corp.	152,300		2,184,050
#	Saison Information Systems Co., Ltd.	23,800		270,890
#	Sakura Internet, Inc.	164,100		799,403
	Samco, Inc.	14,700		156,471
	Sanken Electric Co., Ltd.	176,200		3,887,155
	Sanshin Electronics Co., Ltd.	151,900		2,554,574
#	Satori Electric Co., Ltd.	90,680		822,956
	Saxa Holdings, Inc.	32,600		588,650
#	Scala, Inc.	118,200		1,007,370
	Seikoh Giken Co., Ltd.	14,700		233,141
	SEMITEC Corp.	5,500		285,493
#	Shibaura Electronics Co., Ltd.	56,400		2,438,999
	Shibaura Mechatronics Corp.	24,900		757,901
# *	SHIFT, Inc.	53,100		1,752,877
	Shindengen Electric Manufacturing Co., Ltd.	52,800		2,296,339
# *	Shinkawa, Ltd.	128,500		578,844
	Shinko Electric Industries Co., Ltd.	510,400		3,553,497
	Shinko Shoji Co., Ltd.	139,300		1,939,286
#	Shirai Electronics Industrial Co., Ltd.	61,600		213,094
#	Shizuki Electric Co., Inc.	129,200		803,503
#	Showa Shinku Co., Ltd.	27,800		333,947

The Japanese Small Company Series
continued

		Shares	Value
INFORMATION TECHNOLOGY — (Continued)
#	Showcase TV, Inc.	25,700	$	245,524
	Sigma Koki Co., Ltd.	33,500		524,860
#	Siix Corp.	227,200		3,084,742
#	SK-Electronics Co., Ltd.	60,100		986,561
	SMK Corp.	35,199		723,258
#	Softbank Technology Corp.	72,400		1,365,164
#	Softbrain Co., Ltd.	125,200		597,484
	Softcreate Holdings Corp.	57,100		811,509
#	Soliton Systems K.K.	71,300		627,623
	Solxyz Co., Ltd.	5,900		44,095
*	So-net Media Networks Corp.	14,900		246,078
#	Soshin Electric Co., Ltd.	58,400		220,773
#	Sourcenext Corp.	260,300		3,210,775
	SRA Holdings	73,400		2,066,123
#	Sumida Corp.	195,949		2,430,199
	Sun Corp.	117,400		564,012
	Sun-Wa Technos Corp.	75,000		852,925
	Suzuden Corp.	32,300		380,062
#	Suzuki Co., Ltd.	75,000		505,107
#	System Information Co., Ltd.	45,300		616,230
	System Research Co., Ltd.	12,600		421,822
#	Systemsoft Corp.	278,600		234,689
	Systena Corp.	509,100		6,126,207
	Tachibana Eletech Co., Ltd.	124,960		1,897,003
#	Takachiho Koheki Co., Ltd.	37,400		347,168
	TAKEBISHI Corp.	53,100		737,805
	Tamura Corp.	580,200		2,966,300
#	Tazmo Co., Ltd.	49,500		436,942
	TDC Soft, Inc.	108,100		996,334
# *	Teac Corp.	81,899		196,355
	TechMatrix Corp.	119,400		2,195,875
#	Techno Horizon Holdings Co., Ltd.	76,000		328,083
	Tecnos Japan, Inc.	122,900		951,657
	Teikoku Tsushin Kogyo Co., Ltd.	55,900		599,299
*	Tera Probe, Inc.	10,800		87,568
# *	TerraSky Co., Ltd.	4,700		118,848
#	TESEC Corp.	19,400		284,551
	TKC Corp.	123,300		4,689,373
	Tokyo Electron Device, Ltd.	44,600		791,627
	Tokyo Seimitsu Co., Ltd.	283,900		6,826,965
	Tomen Devices Corp.	15,300		344,862
	Topcon Corp.	773,000		11,231,567
#	Torex Semiconductor, Ltd.	58,200		738,924
	Toshiba TEC Corp.	194,500		5,802,034
	Toukei Computer Co., Ltd.	24,310		674,235
#	Towa Corp.	161,600		1,181,005
	Toyo Corp.	165,500		1,311,608
#	Tri Chemical Laboratories, Inc.	46,000		1,870,740
#	Tsuzuki Denki Co., Ltd.	41,500		368,842
#	UKC Holdings Corp.	98,000		1,910,212
	Ulvac, Inc.	284,500		9,265,412
#	UMC Electronics Co., Ltd.	56,500		1,051,279
#	Uniden Holdings Corp.	40,600		917,675
	UNIRITA, Inc.	7,300		110,023
#	UNITED, Inc.	96,700		2,027,961
#	V Technology Co., Ltd.	34,900		4,502,770
#	VeriServe Corp.	16,200		893,967

The Japanese Small Company Series
continued

		Shares	Value
INFORMATION TECHNOLOGY — (Continued)
#	VINX Corp.	13,200	$	167,762
	Vitec Holdings Co., Ltd.	64,100		1,243,120
	Wacom Co., Ltd.	1,103,100		5,130,317
#	YAC Holdings Co., Ltd.	93,000		649,686
#	Yamaichi Electronics Co., Ltd.	173,500		1,914,948
	Yashima Denki Co., Ltd.	123,300		920,441
#	Yokowo Co., Ltd.	111,700		1,239,876
	Zuken, Inc.	111,400		1,657,887
TOTAL INFORMATION TECHNOLOGY				497,120,658
MATERIALS — (9.9%)
	Achilles Corp.	107,800		2,144,634
	ADEKA Corp.	624,400		9,250,940
	Agro-Kanesho Co., Ltd.	12,500		275,965
	Aichi Steel Corp.	80,700		2,852,783
	Arakawa Chemical Industries, Ltd.	130,100		1,827,563
	Araya Industrial Co., Ltd.	27,500		440,597
	Asahi Holdings, Inc.	220,150		4,714,287
	Asahi Printing Co., Ltd.	25,700		235,476
	ASAHI YUKIZAI Corp.	106,400		2,102,684
#	Asahipen Corp.	2,100		33,258
#	Asia Pile Holdings Corp.	207,100		1,195,093
	C Uyemura & Co., Ltd.	33,600		2,150,115
#	Carlit Holdings Co., Ltd.	149,600		1,191,671
	Chuetsu Pulp & Paper Co., Ltd.	43,400		579,390
*	Chugai Mining Co., Ltd.	1,012,400		179,986
#	Chugoku Marine Paints, Ltd.	458,300		3,681,183
	CI Takiron Corp.	330,000		1,697,183
#	CK-San-Etsu Co., Ltd.	21,200		566,258
	Dai Nippon Toryo Co., Ltd.	144,400		1,458,028
	Daido Steel Co., Ltd.	133,600		5,500,381
#	Daiichi Kigenso Kagaku-Kogyo Co., Ltd.	140,400		1,378,883
	Daiken Corp.	98,800		1,809,085
#	Daiki Aluminium Industry Co., Ltd.	215,800		1,249,014
	Dainichiseika Color & Chemicals Manufacturing Co., Ltd.	90,500		2,674,343
#	Daio Paper Corp.	480,200		6,225,734
	Daito Chemix Corp.	3,700		12,367
	DKS Co., Ltd.	66,200		1,451,928
	Dowa Holdings Co., Ltd.	373,500		10,870,056
	Dynapac Co., Ltd.	8,500		106,931
	Fuji Seal International, Inc.	186,500		5,657,358
	Fujikura Kasei Co., Ltd.	184,200		1,032,402
	Fujimori Kogyo Co., Ltd.	117,100		3,406,655
#	Fumakilla, Ltd.	58,901		809,932
#	Fuso Chemical Co., Ltd.	132,700		2,663,980
	Geostr Corp.	111,400		496,591
	Godo Steel, Ltd.	66,400		1,274,418
	Gun-Ei Chemical Industry Co., Ltd.	31,100		831,210
	Hakudo Co., Ltd.	44,000		693,837
	Harima Chemicals Group, Inc.	104,000		881,871
	Hodogaya Chemical Co., Ltd.	44,900		1,094,123
	Hokkan Holdings, Ltd.	52,400		865,577
	Hokko Chemical Industry Co., Ltd.	137,900		651,537
	Hokuetsu Corp.	945,899		4,518,330
	Honshu Chemical Industry Co., Ltd.	27,200		282,562

The Japanese Small Company Series
continued

		Shares	Value
MATERIALS — (Continued)
#	Ise Chemicals Corp.	15,400	$	442,645
#	Ishihara Chemical Co., Ltd.	35,500		684,751
*	Ishihara Sangyo Kaisha, Ltd.	258,650		3,087,774
	Ishizuka Glass Co., Ltd.	17,800		347,586
	Japan Pure Chemical Co., Ltd.	10,300		206,333
	JCU Corp.	166,900		3,582,352
	JSP Corp.	94,100		1,858,393
#	Kanto Denka Kogyo Co., Ltd.	330,100		2,997,781
	Katakura & Co-op Agri Corp.	21,500		230,141
#	Kawakin Holdings Co., Ltd.	23,100		77,346
#	KeePer Technical Laboratory Co., Ltd.	47,900		467,973
	KH Neochem Co., Ltd.	208,300		5,915,888
	Kimoto Co., Ltd.	247,400		489,944
	Koatsu Gas Kogyo Co., Ltd.	223,493		1,625,827
#	Kogi Corp.	5,499		80,472
	Kohsoku Corp.	72,900		671,909
	Konishi Co., Ltd.	232,600		3,259,219
#	Konoshima Chemical Co., Ltd.	41,300		261,985
	Krosaki Harima Corp.	36,900		2,440,294
#	Kumiai Chemical Industry Co., Ltd.	712,187		4,433,219
	Kunimine Industries Co., Ltd.	38,600		331,681
	Kureha Corp.	124,950		8,029,884
	Kurimoto, Ltd.	67,900		1,015,525
#	Kuriyama Holdings Corp.	50,200		779,983
#	Kyoei Steel, Ltd.	149,700		2,711,786
	Kyowa Leather Cloth Co., Ltd.	86,800		653,603
	Lintec Corp.	302,000		7,147,406
#	MEC Co., Ltd.	127,700		1,669,511
#	Mipox Corp.	58,500		232,996
	Mitani Sekisan Co., Ltd.	72,800		1,651,559
	Mitsubishi Paper Mills, Ltd.	425,300		2,194,498
	Mitsubishi Steel Manufacturing Co., Ltd.	53,500		939,220
	Mitsui Mining & Smelting Co., Ltd.	433,400		12,279,380
#	Molitec Steel Co., Ltd.	86,500		386,287
#	MORESCO Corp.	47,800		659,155
	Mory Industries, Inc.	39,300		967,915
#	Muto Seiko Co.	35,700		188,073
	Nakayama Steel Works, Ltd.	239,400		1,258,552
	Neturen Co., Ltd.	258,000		2,272,195
# *	New Japan Chemical Co., Ltd.	200,600		364,515
#	Nicca Chemical Co., Ltd.	49,300		525,821
	Nichia Steel Works, Ltd.	121,100		343,773
#	Nihon Kagaku Sangyo Co., Ltd.	90,200		1,023,160
#	Nihon Nohyaku Co., Ltd.	234,800		1,301,179
	Nihon Parkerizing Co., Ltd.	651,600		7,869,192
	Nihon Yamamura Glass Co., Ltd.	112,600		1,674,977
	Nippon Carbide Industries Co., Inc.	49,300		813,644
	Nippon Chemical Industrial Co., Ltd.	42,600		1,159,485
	Nippon Concrete Industries Co., Ltd.	302,400		814,868
#	Nippon Denko Co., Ltd.	1,006,814		2,391,331
	Nippon Fine Chemical Co., Ltd.	82,800		799,118
	Nippon Kayaku Co., Ltd.	345,900		4,116,618
	Nippon Kinzoku Co., Ltd.	26,500		340,035
#	Nippon Koshuha Steel Co., Ltd.	26,799		162,282
	Nippon Light Metal Holdings Co., Ltd.	4,216,200		8,890,260
#	Nippon Paper Industries Co., Ltd.	587,400		10,642,418
	Nippon Pillar Packing Co., Ltd.	158,800		2,126,919

The Japanese Small Company Series
continued

		Shares	Value
MATERIALS — (Continued)
	Nippon Soda Co., Ltd.	175,500	$	4,560,767
#	Nippon Yakin Kogyo Co., Ltd.	1,187,900		3,157,492
#	Nisshin Steel Co., Ltd.	344,892		4,501,736
	Nitta Gelatin, Inc.	98,800		667,735
	Nittetsu Mining Co., Ltd.	36,800		1,564,117
#	Nitto FC Co., Ltd.	121,400		843,781
	Nozawa Corp.	54,100		562,058
	Oat Agrio Co., Ltd.	21,400		541,390
#	Okamoto Industries, Inc.	76,500		3,447,599
	Okura Industrial Co., Ltd.	58,800		1,077,139
	Osaka Organic Chemical Industry, Ltd.	108,700		1,327,939
#	Osaka Soda Co., Ltd.	102,499		2,410,331
	Osaka Steel Co., Ltd.	92,500		1,638,124
#	OSAKA Titanium Technologies Co., Ltd.	147,500		2,315,589
#	Pacific Metals Co., Ltd.	117,999		3,310,898
	Pack Corp. (The)	95,600		2,736,155
#	Rasa Industries, Ltd.	55,100		906,902
	Rengo Co., Ltd.	373,700		3,257,518
	Riken Technos Corp.	248,500		1,119,578
	Sakai Chemical Industry Co., Ltd.	114,000		2,626,667
	Sakata INX Corp.	304,200		3,011,897
	Sanyo Chemical Industries, Ltd.	87,800		4,023,207
	Sanyo Special Steel Co., Ltd.	147,060		3,381,545
#	Seiko PMC Corp.	86,000		700,087
	Sekisui Plastics Co., Ltd.	176,500		1,373,509
	Shikoku Chemicals Corp.	252,900		2,582,039
	Shinagawa Refractories Co., Ltd.	43,600		1,673,926
	Shin-Etsu Polymer Co., Ltd.	336,500		2,464,229
#	Shinko Wire Co., Ltd.	18,400		208,806
	SK Kaken Co., Ltd.	1,600		678,577
	Soken Chemical & Engineering Co., Ltd.	49,800		778,205
	Stella Chemifa Corp.	82,400		2,507,647
	Sumitomo Bakelite Co., Ltd.	36,700		1,325,136
#	Sumitomo Osaka Cement Co., Ltd.	275,499		10,235,593
	Sumitomo Seika Chemicals Co., Ltd.	67,500		3,368,993
	T Hasegawa Co., Ltd.	174,900		3,105,621
	T&K Toka Co., Ltd.	143,700		1,374,628
#	Taisei Lamick Co., Ltd.	42,700		1,205,546
	Taiyo Holdings Co., Ltd.	130,100		4,648,375
	Takasago International Corp.	103,400		3,296,328
	Takemoto Yohki Co., Ltd.	24,200		576,470
#	Taki Chemical Co., Ltd.	6,400		528,535
	Tayca Corp.	128,200		2,695,683
	Tenma Corp.	128,000		2,224,102
	Toagosei Co., Ltd.	795,100		8,164,289
#	Toda Kogyo Corp.	24,200		571,582
	Toho Acetylene Co., Ltd.	12,700		173,107
	Toho Chemical Industry Co., Ltd.	47,000		209,203
	Toho Titanium Co., Ltd.	256,900		2,611,607
	Toho Zinc Co., Ltd.	91,999		2,940,423
	Tohoku Steel Co., Ltd.	16,300		190,777
	Tokushu Tokai Paper Co., Ltd.	68,558		2,645,757
	Tokuyama Corp.	303,398		6,784,502
	Tokyo Ohka Kogyo Co., Ltd.	263,300		7,051,911
	Tokyo Printing Ink Manufacturing Co., Ltd.	10,200		235,656
#	Tokyo Rope Manufacturing Co., Ltd.	100,300		1,028,568
	Tokyo Steel Manufacturing Co., Ltd.	845,800		6,668,781

The Japanese Small Company Series
continued

		Shares	Value
MATERIALS — (Continued)
	Tokyo Tekko Co., Ltd.	67,400	$	874,686
	Tomoegawa Co., Ltd.	33,600		370,583
	Tomoku Co., Ltd.	80,700		1,390,837
	Topy Industries, Ltd.	113,200		3,050,825
	Toyo Gosei Co., Ltd.	34,600		330,792
	Toyo Ink SC Holdings Co., Ltd.	258,200		5,991,586
	Toyobo Co., Ltd.	633,400		9,002,787
#	TYK Corp.	169,400		644,503
	UACJ Corp.	183,541		4,000,878
	Valqua, Ltd.	122,499		2,984,575
#	Vertex Corp.	47,098		507,983
	Wavelock Holdings Co., Ltd.	30,900		229,560
	Wood One Co., Ltd.	48,500		528,481
	Yamato Kogyo Co., Ltd.	305,800		8,058,995
	Yodogawa Steel Works, Ltd.	147,100		3,193,104
	Yoshicon Co., Ltd.	3,100		31,364
#	Yotai Refractories Co., Ltd.	133,300		925,597
#	Yuki Gosei Kogyo Co., Ltd.	36,200		82,574
	Yushiro Chemical Industry Co., Ltd.	73,800		927,279
TOTAL MATERIALS				399,852,186
REAL ESTATE — (1.7%)
#	AD Works Co., Ltd.	1,950,700		655,818
	Airport Facilities Co., Ltd.	146,470		780,861
	Anabuki Kosan, Inc.	4,600		122,439
	Aoyama Zaisan Networks Co., Ltd.	68,800		961,579
#	Apaman Co., Ltd.	82,200		850,834
# *	Ardepro Co., Ltd.	292,800		162,851
#	Arealink Co., Ltd.	48,600		717,331
#	B-Lot Co., Ltd.	11,000		121,075
#	Cosmos Initia Co., Ltd.	99,600		544,140
	CRE, Inc.	60,800		536,201
	Daibiru Corp.	350,900		3,537,487
#	Daikyo, Inc.	225,900		5,929,077
#	Dear Life Co., Ltd.	155,900		762,893
	Goldcrest Co., Ltd.	137,770		2,157,381
#	Good Com Asset Co., Ltd.	6,200		85,122
	Grandy House Corp.	113,800		462,186
	Heiwa Real Estate Co., Ltd.	236,600		4,382,189
	Ichigo, Inc.	997,200		3,255,711
#	Intellex Co., Ltd.	30,000		206,006
*	Japan Asset Marketing Co., Ltd.	1,649,800		1,800,599
	Japan Corporate Housing Service, Inc.	10,500		72,514
#	Japan Property Management Center Co., Ltd.	92,400		1,007,384
	Kabuki-Za Co., Ltd.	21,800		1,101,590
	Keihanshin Building Co., Ltd.	278,600		2,051,283
# *	LAND Co., Ltd.	1,824,900		179,915
	Leopalace21 Corp.	1,918,000		7,989,373
#	Mugen Estate Co., Ltd.	97,000		554,839
	Nippon Commercial Development Co., Ltd.	91,300		1,384,067
	Nisshin Fudosan Co.	232,400		1,083,473
	Prospect Co., Ltd.	3,402,000		1,148,251
	Raysum Co., Ltd.	119,100		1,466,235
#	SAMTY Co., Ltd.	128,500		1,682,285
	Sankyo Frontier Co., Ltd.	22,100		687,286
	Sansei Landic Co., Ltd.	40,600		401,579

The Japanese Small Company Series
continued

		Shares	Value
REAL ESTATE — (Continued)
#	Shinoken Group Co., Ltd.	220,800	$	1,825,725
#	Star Mica Co., Ltd.	91,300		1,247,190
	Sun Frontier Fudousan Co., Ltd.	232,900		2,377,143
#	Takara Leben Co., Ltd.	639,000		1,841,005
#	Tateru, Inc.	286,800		1,203,629
	TOC Co., Ltd.	416,650		2,838,426
	Tokyo Rakutenchi Co., Ltd.	21,500		937,036
	Tokyo Theatres Co., Inc.	50,099		597,028
	Tosei Corp.	250,000		2,285,166
#	Unizo Holdings Co., Ltd.	226,900		4,274,207
#	Urbanet Corp. Co., Ltd.	123,500		366,827
TOTAL REAL ESTATE				68,635,236
UTILITIES — (1.1%)
# *	Eneres Co., Ltd.	189,500		1,167,440
#	eRex Co., Ltd.	286,800		2,382,638
	Hiroshima Gas Co., Ltd.	330,700		1,060,569
	Hokkaido Electric Power Co., Inc.	1,406,600		8,209,330
	Hokkaido Gas Co., Ltd.	100,600		1,287,743
*	Hokuriku Electric Power Co.	935,100		8,711,001
	Hokuriku Gas Co., Ltd.	10,100		265,162
	K&O Energy Group, Inc.	107,400		1,488,332
	Nippon Gas Co., Ltd.	11,100		335,764
	Okinawa Electric Power Co., Inc. (The)	311,021		5,794,635
# *	RENOVA, Inc.	197,300		2,140,554
	Saibu Gas Co., Ltd.	221,600		4,934,958
	Shizuoka Gas Co., Ltd.	394,500		3,412,588
#	Toell Co., Ltd.	59,400		447,343
#	West Holdings Corp.	105,200		1,061,630
TOTAL UTILITIES				42,699,687
TOTAL COMMON STOCKS				3,802,673,731
RIGHTS/WARRANTS — (0.0%)
FINANCIALS — (0.0%)
*	Akatsuki Corp. Rights 12/25/18	109,000		75,349
TOTAL INVESTMENT SECURITIES				3,802,749,080
SECURITIES LENDING COLLATERAL — (5.4%)
@ §	DFA Short Term Investment Fund	18,866,285		218,282,913
TOTAL INVESTMENTS — (100.0%)
(Cost $3,609,227,762)			$	4,021,031,993

____________________

#	Total or Partial Securities on Loan.
*	Non-Income Producing Securities.
@	Security purchased with cash proceeds from Securities on Loan.
§	Affiliated Fund.

The Japanese Small Company Series
continued

Summary of the Series’ investments as of October 31, 2018, 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
Communication Services		—	$	116,578,489	—	$	116,578,489
Consumer Discretionary	$	6,321,241		706,744,934	—		713,066,175
Consumer Staples		—		303,762,350	—		303,762,350
Energy		—		29,926,156	—		29,926,156
Financials		10,103,674		321,366,290	—		331,469,964
Healthcare		—		204,700,860	—		204,700,860
Industrials		—		1,094,861,970	—		1,094,861,970
Information Technology		486,572		496,634,086	—		497,120,658
Materials		507,983		399,344,203	—		399,852,186
Real Estate		—		68,635,236	—		68,635,236
Utilities		—		42,699,687	—		42,699,687
Rights/Warrants
Financials		—		75,349	—		75,349
Securities Lending Collateral		—		218,282,913	—		218,282,913
TOTAL	$	17,419,470	$	4,003,612,523	—	$	4,021,031,993

THE ASIA PACIFIC SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2018

		Shares	Value»
COMMON STOCKS — (94.4%)
AUSTRALIA — (52.6%)
*	3P Learning, Ltd.	93,233	$	79,303
*	88 Energy, Ltd.	604,262		7,642
»	Accent Group, Ltd.	1,895,397		1,677,338
	Adacel Technologies, Ltd.	140,130		154,710
	Adairs, Ltd.	381,049		472,053
	Adelaide Brighton, Ltd.	3,004,912		12,086,193
*	Aeon Metals, Ltd.	45,332		8,865
#	Ainsworth Game Technology, Ltd.	364,227		263,964
# *	Alkane Resources, Ltd.	1,385,657		220,924
	Alliance Aviation Services, Ltd.	27,285		46,127
	ALS, Ltd.	2,494,939		14,468,701
	Altium, Ltd.	879,028		13,703,502
*	Altura Mining, Ltd.	98,208		13,996
#	AMA Group, Ltd.	1,621,708		1,047,982
#	Amaysim Australia, Ltd.	1,355,718		1,097,670
	Ansell, Ltd.	896,383		14,778,046
#	AP Eagers, Ltd.	298,855		1,555,241
	APN Property Group, Ltd.	26,661		8,516
#	Apollo Tourism & Leisure, Ltd.	146,441		146,440
	Appen, Ltd.	702,260		5,331,671
#	ARB Corp., Ltd.	606,699		7,462,547
#	Ardent Leisure Group.	3,508,077		3,990,542
#	ARQ Group, Ltd.	987,156		1,533,697
	Asaleo Care, Ltd.	20,828		10,333
	Atlas Arteria, Ltd.	2,965,825		14,366,965
	AUB Group, Ltd.	325,555		3,114,227
# *	Aurelia Metals, Ltd.	1,819,536		949,642
	Ausdrill, Ltd.	2,560,609		3,121,180
	Austal, Ltd.	1,540,941		1,958,683
*	Austin Engineering, Ltd.	95,866		14,604
# *	Australian Agricultural Co., Ltd.	2,990,515		2,804,311
	Australian Finance Group, Ltd.	642,336		638,000
#	Australian Pharmaceutical Industries, Ltd.	3,178,637		3,452,614
	Australian Vintage, Ltd.	4,199,886		1,654,035
	Auswide Bank, Ltd.	102,961		378,618
#	Automotive Holdings Group, Ltd.	1,068,424		1,370,131
	Aveo Group	3,342,036		4,372,278
	AVJennings, Ltd.	7,058,528		3,026,510
*	Axsesstoday, Ltd.	20,251		23,304
#	Baby Bunting Group, Ltd.	318,497		497,096
#	Bank of Queensland, Ltd.	380,336		2,607,163
#	Bapcor, Ltd.	1,945,254		9,436,542
*	Base Resources, Ltd.	215,873		37,658
	Beach Energy, Ltd.	14,720,311		18,335,566
# *	Beadell Resources, Ltd.	7,171,491		287,026
#	Bega Cheese, Ltd.	1,467,014		6,213,677
	Bell Financial Group, Ltd.	122,493		87,728
# *	Bellamy’s Australia, Ltd.	568,208		2,925,148
#	Blackmores, Ltd.	100,980		8,707,549
*	Blue Energy, Ltd.	97,807		3,813
#	Bravura Solutions, Ltd.	659,141		1,959,341
	Breville Group, Ltd.	847,284		7,380,725
	Brickworks, Ltd.	439,516		5,262,506
# *	Bubs Australia, Ltd.	326,550		109,018
# *	Buru Energy, Ltd.	678,801		122,572

The Asia Pacific Small Company Series
continued

		Shares	Value»
AUSTRALIA — (Continued)
#	BWX, Ltd.	335,452	$	606,063
#	Cabcharge Australia, Ltd.	197,624		289,278
	Capilano Honey, Ltd.	18,636		260,566
	Capitol Health, Ltd.	2,956,003		578,358
	Capral, Ltd.	58,499		5,785
# *	Cardno, Ltd.	1,127,842		812,899
*	Carnarvon Petroleum, Ltd.	5,872,111		1,462,537
	carsales.com, Ltd.	1,702,940		14,760,322
# *	Cash Converters International, Ltd.	3,008,100		564,881
# *	Catapult Group International, Ltd.	407,428		303,706
	Cedar Woods Properties, Ltd.	396,815		1,490,306
	Centuria Capital Group	12,363		11,480
	Citadel Group, Ltd. (The)	68,921		415,472
#	Class, Ltd.	399,883		521,812
*	Clean Seas Seafood, Ltd.	1,754,602		68,255
	Cleanaway Waste Management, Ltd.	13,728,372		17,549,486
#	Clinuvel Pharmaceuticals, Ltd.	34,474		390,960
	Clover Corp., Ltd.	254,940		262,091
	Codan, Ltd.	621,597		1,323,844
#	Collection House, Ltd.	2,231,387		2,111,692
	Collins Foods, Ltd.	799,889		3,633,199
# *	Cooper Energy, Ltd.	9,007,134		2,970,173
#	Corporate Travel Management, Ltd.	587,789		8,387,889
	Costa Group Holdings, Ltd.	2,167,448		9,391,202
#	Credit Corp. Group, Ltd.	516,474		6,987,009
*	CSG, Ltd.	1,608,459		217,656
	CSR, Ltd.	3,957,955		9,928,634
*	CuDeco, Ltd.	387,893		24,200
#	Data#3, Ltd.	821,486		875,174
*	Decmil Group, Ltd.	504,340		273,535
#	Dicker Data, Ltd.	193,123		393,124
	Domain Holdings Australia, Ltd.	1,536,045		2,702,266
#	Domino’s Pizza Enterprises, Ltd.	217,005		8,317,103
	Donaco International, Ltd.	28,566		3,139
*	Doray Minerals, Ltd.	410,541		103,591
	Downer EDI, Ltd.	4,034,426		19,862,919
	DuluxGroup, Ltd.	3,101,823		16,304,563
	DWS, Ltd.	514,109		426,211
	Eclipx Group, Ltd.	2,757,791		4,744,936
	Elders, Ltd.	1,007,530		5,216,011
*	EML Payments, Ltd.	312,191		345,930
# *	Energy Resources of Australia, Ltd.	229,368		55,459
*	Energy World Corp., Ltd.	87,518		10,256
	EQT Holdings, Ltd.	93,813		1,491,703
	ERM Power, Ltd.	1,089,491		1,264,475
	Estia Health, Ltd.	1,211,553		1,756,113
	Euroz, Ltd.	101,762		90,182
	EVENT Hospitality and Entertainment, Ltd.	544,188		5,176,669
	Evolution Mining, Ltd.	1,556		3,293
	Experience Co., Ltd.	41,250		8,788
	Fairfax Media, Ltd.	19,821,806		9,020,829
# *	FAR, Ltd.	9,270,970		818,377
#	Finbar Group, Ltd.	203,868		122,873
	Fleetwood Corp., Ltd. (6341855)	338,355		533,162
	FlexiGroup, Ltd.	1,850,936		2,016,960
	Freedom Foods Group, Ltd.	40,467		145,222
#	G8 Education, Ltd.	1,927,712		2,804,991

The Asia Pacific Small Company Series
continued

		Shares	Value»
AUSTRALIA — (Continued)
# *	Galaxy Resources, Ltd.	2,797,281	$	4,364,882
# *	Galilee Energy, Ltd.	133,757		65,369
# *	Gascoyne Resources, Ltd.	428,415		42,933
#	GBST Holdings, Ltd.	178,479		215,830
#	Genworth Mortgage Insurance Australia, Ltd.	1,921,523		3,068,911
#	Global Construction Services, Ltd.	268,763		121,854
# *	Gold Road Resources, Ltd.	2,039,060		1,006,657
	GR Engineering Services, Ltd.	55,230		47,722
	GrainCorp, Ltd., Class A.	1,735,655		10,146,181
	Grange Resources, Ltd.	449,866		70,638
#	Greencross, Ltd.	449,892		1,445,043
*	Greenland Minerals, Ltd.	114,047		7,037
	GUD Holdings, Ltd.	992,918		8,705,318
	GWA Group, Ltd.	2,071,266		4,050,586
#	Hansen Technologies, Ltd.	1,117,944		2,749,153
#	Harvey Norman Holdings, Ltd.	525,167		1,188,830
	Healthscope, Ltd.	5,420,705		8,132,854
#	Helloworld Travel, Ltd.	12,955		50,630
# *	Highfield Resources, Ltd.	160,730		55,428
*	Hills, Ltd.	353,244		45,111
*	Horizon Oil, Ltd.	714,889		73,152
#	HT&E, Ltd.	1,759,008		2,423,951
	HUB24, Ltd.	6,033		49,196
	IDP Education, Ltd.	580,436		3,793,923
	Iluka Resources, Ltd.	555,429		3,189,945
*	Imdex, Ltd.	2,130,372		1,735,469
#	IMF Bentham, Ltd.	1,746,477		3,659,388
*	Immutep, Ltd.	1,409,121		41,239
# *	ImpediMed, Ltd.	95,787		27,211
#	Independence Group NL	3,149,458		9,040,777
*	Infigen Energy	5,276,965		1,837,579
	Infomedia, Ltd.	2,750,806		2,181,182
#	Inghams Group, Ltd.	1,394,745		3,856,250
	Integral Diagnostics, Ltd.	27,730		53,102
#	Integrated Research, Ltd.	642,274		967,706
#	InvoCare, Ltd.	976,845		8,407,316
#	IOOF Holdings, Ltd.	2,401,762		11,616,624
#	IPH, Ltd.	915,513		3,514,658
#	IRESS, Ltd.	1,180,608		9,095,282
#	iSelect, Ltd.	96,851		44,782
#	iSentia Group, Ltd.	1,014,066		176,620
	IVE Group, Ltd.	423,171		612,342
#	Japara Healthcare, Ltd.	1,707,905		1,362,085
#	JB Hi-Fi, Ltd.	963,999		15,708,593
	Jumbo Interactive, Ltd.	221,038		1,123,737
#	Jupiter Mines, Ltd.	344,616		76,958
	K&S Corp., Ltd.	274,800		264,810
# *	Karoon Gas Australia, Ltd.	1,703,069		1,288,880
*	Kingsgate Consolidated, Ltd.	1,797,365		210,561
#	Kogan.com, Ltd.	252,050		509,244
	Lifestyle Communities, Ltd.	80,766		331,448
	Link Administration Holdings, Ltd.	2,679,433		14,278,991
#	Lovisa Holdings, Ltd.	171,471		935,251
# *	Lynas Corp., Ltd.	4,094,243		6,058,516
	MACA, Ltd.	394,191		336,322
*	Macmahon Holdings, Ltd.	4,688,396		781,595
#	Magellan Financial Group, Ltd.	417,471		7,912,388

The Asia Pacific Small Company Series
continued

		Shares	Value»
AUSTRALIA — (Continued)
*	Mastermyne Group, Ltd.	33,023	$	30,029
	MaxiTRANS Industries, Ltd.	872,413		334,050
# *	Mayne Pharma Group, Ltd.	6,757,843		5,374,340
	McMillan Shakespeare, Ltd.	489,652		5,742,748
	McPherson’s, Ltd.	470,863		465,307
	Medical Developments International, Ltd.	5,177		17,745
*	Medusa Mining, Ltd.	155,314		35,744
# *	Mesoblast, Ltd.	809,274		1,148,440
#	Metals X, Ltd.	2,181,447		721,013
#	Metcash, Ltd.	7,046,948		13,772,950
#	Michael Hill International, Ltd.	1,490,263		691,380
#	Michael Hill International, Ltd.	94,305		44,078
*	Millennium Minerals, Ltd.	1,192,555		173,930
*	Mincor Resources NL	766,120		195,941
	Mineral Resources, Ltd.	1,216,344		12,342,112
*	MMA Offshore, Ltd.	4,749,942		806,757
#	MNF Group, Ltd.	194,514		568,356
	Moelis Australia, Ltd.	19,541		70,043
#	Monadelphous Group, Ltd.	813,595		8,325,648
	Monash IVF Group, Ltd.	821,580		527,519
#	Money3 Corp., Ltd.	753,931		872,184
#	Mortgage Choice, Ltd.	793,228		679,056
#	Motorcycle Holdings, Ltd.	19,615		36,399
	Mount Gibson Iron, Ltd.	3,805,673		1,457,832
#	Myer Holdings, Ltd.	1,619,819		522,914
	MYOB Group, Ltd.	2,841,173		6,794,444
#	MyState, Ltd.	494,101		1,610,311
	Navigator Global Investments, Ltd.	948,747		3,018,329
#	Navitas, Ltd.	1,792,167		6,460,212
#	Neometals, Ltd.	626,513		102,246
# *	NetComm Wireless, Ltd.	180,398		85,035
	New Hope Corp., Ltd.	470,395		1,103,213
# *	NEXTDC, Ltd.	131,506		549,730
	nib holdings, Ltd.	3,342,132		13,155,941
#	Nick Scali, Ltd.	322,227		1,182,963
#	Nine Entertainment Co. Holdings, Ltd.	4,317,723		5,185,472
	Noni B, Ltd.	4,694		10,306
	Northern Star Resources, Ltd.	3,310,960		20,684,301
*	NRW Holdings, Ltd.	2,092,790		2,748,539
#	Nufarm, Ltd.	1,992,358		8,056,837
#	OFX Group, Ltd.	1,689,584		2,570,110
*	OM Holdings, Ltd.	331,181		318,975
*	OneMarket, Ltd.	112,823		65,551
# *	Onevue Holdings, Ltd.	903,222		353,886
	oOh!media, Ltd.	879,451		2,955,221
# *	Orocobre, Ltd.	187,160		444,921
	Orora, Ltd.	8,074,313		19,242,479
	OZ Minerals, Ltd.	2,477,965		15,896,021
	Pacific Current Group, Ltd.	186,173		812,179
	Pacific Energy, Ltd.	33,400		12,896
	Pacific Smiles Group, Ltd.	256,946		254,996
	Pact Group Holdings, Ltd.	1,206,154		2,981,648
*	Panoramic Resources, Ltd.	2,802,164		826,038
*	Pantoro, Ltd.	523,848		65,350
	Paragon Care, Ltd.	834,834		408,034
#	Peet, Ltd.	771,699		605,173
	Pendal Group, Ltd.	1,659,644		9,596,011

The Asia Pacific Small Company Series
continued

		Shares	Value»
AUSTRALIA — (Continued)
# *	Peninsula Energy, Ltd.	268,623	$	42,119
#	Perpetual, Ltd.	374,045		9,200,195
# *	Perseus Mining, Ltd.	5,976,921		1,531,889
# *	Pilbara Minerals, Ltd.	907,535		508,443
	Pioneer Credit, Ltd.	173,973		377,435
#	Platinum Asset Management, Ltd.	1,800,299		6,268,517
*	PMP, Ltd.	2,421,092		334,521
# *	Praemium, Ltd.	1,355,202		742,585
	Premier Investments, Ltd.	778,124		9,071,992
	Primary Health Care, Ltd.	3,214,850		6,052,206
*	Prime Media Group, Ltd.	62,765		11,542
	Pro Medicus, Ltd.	242,892		1,571,967
	PWR Holdings, Ltd.	79,602		212,886
	QMS Media, Ltd.	407,838		268,811
#	Qube Holdings, Ltd.	4,471,985		7,776,509
# *	Quintis, Ltd.	2,130,129		103,843
*	Ramelius Resources, Ltd.	3,194,151		940,801
#	RCR Tomlinson, Ltd.	1,950,768		1,255,201
	Reckon, Ltd.	446,073		228,666
# *	Red River Resources, Ltd.	454,268		60,016
	Reece, Ltd.	980,451		7,219,103
#	Regis Healthcare, Ltd.	1,432,437		2,435,623
	Regis Resources, Ltd.	3,602,454		10,806,393
	Reject Shop, Ltd. (The)	107,368		168,257
#	Reliance Worldwide Corp., Ltd.	2,223,159		7,920,079
#	Resolute Mining, Ltd.	5,979,371		4,420,381
	Rhipe, Ltd.	92,579		78,355
	Ridley Corp., Ltd.	1,797,229		1,848,447
*	RPMGlobal Holdings, Ltd.	52,065		23,266
	Ruralco Holdings, Ltd.	207,969		426,362
#	RXP Services, Ltd.	364,327		118,993
	Salmat, Ltd.	645,788		252,305
	Sandfire Resources NL	1,497,630		7,081,333
*	Saracen Mineral Holdings, Ltd.	7,310,283		12,750,641
	Scottish Pacific Group, Ltd.	38,112		117,068
#	SeaLink Travel Group, Ltd.	191,581		574,468
#	Select Harvests, Ltd.	605,006		2,217,182
*	Senetas Corp., Ltd.	131,335		9,354
# *	Senex Energy, Ltd.	11,411,198		3,265,541
	Servcorp, Ltd.	343,996		857,317
#	Service Stream, Ltd.	2,120,468		2,391,327
	Seven Group Holdings, Ltd.	619,423		7,825,398
	Seven West Media, Ltd.	4,058,877		2,249,526
	SG Fleet Group, Ltd.	376,993		889,595
*	Sheffield Resources, Ltd.	128,344		80,277
	Shine Corporate, Ltd.	15,573		8,605
#	Shriro Holdings, Ltd.	148,697		52,689
#	Sigma Healthcare, Ltd.	3,411,098		1,259,847
# *	Silver Lake Resources, Ltd.	2,369,915		869,155
	Sims Metal Management, Ltd.	1,382,214		11,083,430
	SmartGroup Corp., Ltd.	598,299		4,236,842
	Southern Cross Media Group, Ltd.	3,380,274		2,738,744
	Spark Infrastructure Group	11,690,859		19,060,125
*	Specialty Fashion Group, Ltd.	50,549		41,346
#	SpeedCast International, Ltd.	2,040,350		5,216,267
	St Barbara, Ltd.	4,256,889		12,566,295
	Steadfast Group, Ltd.	5,573,447		11,752,512

The Asia Pacific Small Company Series
continued

		Shares	Value»
AUSTRALIA — (Continued)
*	Strike Energy, Ltd.	1,969,468	$	149,783
*	Sundance Energy Australia, Ltd.	29,378,950		1,739,523
	Sunland Group, Ltd.	1,211,896		1,326,858
#	Super Retail Group, Ltd.	1,318,324		6,760,659
# *	Superloop, Ltd.	354,006		436,901
# *	Syrah Resources, Ltd.	2,205,354		2,508,394
#	Tassal Group, Ltd.	1,445,473		4,233,164
#	Technology One, Ltd.	1,900,986		7,345,566
*	Terracom, Ltd.	66,775		25,379
#	Thorn Group, Ltd.	744,756		304,159
*	Tiger Resources, Ltd.	9,447,997		25,090
	Tribune Resources, Ltd.	3,093		10,565
*	Troy Resources, Ltd.	372,547		25,457
#	Villa World, Ltd.	885,139		1,260,993
# *	Village Roadshow, Ltd.	997,545		1,606,136
# *	Virgin Australia Holdings, Ltd.	11,378,469		1,613,878
	Virtus Health, Ltd.	558,943		1,992,115
	Vita Group, Ltd.	256,327		189,173
# *	Vocus Group, Ltd.	2,995,147		7,308,708
*	Watpac, Ltd.	760,701		499,298
	Webjet, Ltd.	807,424		7,484,692
#	Webster, Ltd.	92,933		105,304
	Western Areas, Ltd.	1,937,453		3,096,928
# *	Westgold Resources, Ltd.	1,720,915		1,343,751
	WiseTech Global, Ltd.	8,123		92,900
	WorleyParsons, Ltd.	1,206,057		12,474,529
	WPP AUNZ, Ltd.	1,664,014		661,552
	Xenith IP Group, Ltd.	9,607		8,518
TOTAL AUSTRALIA				957,976,330
BERMUDA — (0.0%)
	Hoifu Energy Group, Ltd.	2,088,000		266,260
CAYMAN ISLANDS — (0.0%)
	On Time Logistics Holdings, Ltd.	104,000		29,840
CHINA — (0.0%)
*	GCL New Energy Holdings, Ltd.	96,000		3,199
	Strong Petrochemical Holdings, Ltd.	1,034,000		63,645
	Xinghua Port Holdings, Ltd.	2,042,750		252,365
	Yeebo International Holdings, Ltd.	2,204,000		293,112
TOTAL CHINA				612,321
HONG KONG — (26.1%)
	Aeon Credit Service Asia Co., Ltd.	752,000		628,583
	Aeon Stores Hong Kong Co., Ltd.	248,000		129,791
#	Agritrade Resources, Ltd.	26,080,000		5,198,191
	Alco Holdings, Ltd.	1,614,000		225,047
	Allan International Holdings	32,000		7,047
	Allied Group, Ltd.	661,200		3,564,648
#	Allied Properties HK, Ltd.	12,731,857		2,733,582
	Alltronics Holdings, Ltd.	2,500,600		411,627
	APAC Resources, Ltd.	2,270,888		325,295
# *	Applied Development Holdings, Ltd.	14,125,000		1,046,384
	APT Satellite Holdings, Ltd.	3,042,500		975,611
	Arts Optical International Hldgs, Ltd.	730,000		176,816

The Asia Pacific Small Company Series
continued

		Shares	Value»
HONG KONG — (Continued)
	Asia Financial Holdings, Ltd.	2,404,908	$	1,294,352
*	Asia Investment Finance Group, Ltd.	15,652,000		133,442
	Asia Pacific Silk Road Investment Co., Ltd.	2,200,000		18,235
	Asia Satellite Telecommunications Holdings, Ltd.	934,500		637,482
	Asia Standard Hotel Group, Ltd.	33,751,654		1,483,731
#	Asia Standard International Group, Ltd.	13,222,917		2,487,798
	Asiasec Properties, Ltd.	1,394,000		695,493
	Associated International Hotels, Ltd.	952,000		2,669,776
*	Auto Italia Holdings	1,900,000		17,393
	Automated Systems Holdings, Ltd.	404,400		46,581
*	BeijingWest Industries International, Ltd.	1,277,600		130,712
	Best Food Holding Co., Ltd.	996,000		141,282
*	Bison Finance Group, Ltd.	712,000		110,255
#	BOE Varitronix, Ltd.	3,149,293		910,751
*	Bonjour Holdings, Ltd.	14,578,600		419,482
	Bossini International Holdings, Ltd.	2,119,500		74,337
#	Bright Smart Securities & Commodities Group, Ltd.	7,004,000		1,327,854
*	Brightoil Petroleum Holdings, Ltd.	9,991,000		1,911,068
# *	Brockman Mining, Ltd.	22,810,814		511,699
*	Burwill Holdings, Ltd.	35,754,960		740,172
	Cafe de Coral Holdings, Ltd.	3,206,000		6,948,208
# *	Camsing International Holding, Ltd.	3,216,000		2,530,372
*	Cash Financial Services Group, Ltd.	2,934,000		24,455
*	CCT Land Holdings, Ltd.	18,640,000		23,770
*	CEFC Hong Kong Financial Investment Co., Ltd.	810,000		16,643
	Century City International Holdings, Ltd.	6,871,460		606,447
#	CGN Mining Co., Ltd.	4,855,000		144,036
*	Champion Technology Holdings, Ltd.	4,793,946		216,989
	Chen Hsong Holdings	1,212,000		354,370
	Cheuk Nang Holdings, Ltd.	679,350		412,837
	Chevalier International Holdings, Ltd.	820,989		1,170,303
*	China Baoli Technologies Holdings, Ltd.	1,147,500		73,184
*	China Best Group Holding, Ltd.	4,250,000		102,972
*	China Chuanglian Education Financial Group, Ltd.	5,416,000		53,167
	China Display Optoelectronics Technology Holdings, Ltd.	4,928,000		441,699
*	China Energy Development Holdings, Ltd.	56,266,000		839,755
	China Flavors & Fragrances Co., Ltd.	2,121,028		716,242
*	China Fortune Financial Group, Ltd.	6,570,000		64,797
#	China Goldjoy Group, Ltd.	18,756,000		767,946
# *	China LNG Group, Ltd.	7,164,001		988,990
*	China Ludao Technology Co., Ltd.	580,000		88,308
*	China Medical & HealthCare Group, Ltd.	43,506,800		1,115,855
	China Motor Bus Co., Ltd.	60,600		739,305
# *	China Shandong Hi-Speed Financial Group, Ltd.	9,144,000		288,750
# *	China Soft Power Technology Holdings, Ltd.	29,128,402		182,761
*	China Solar Energy Holdings, Ltd.	1,669,500		7,185
*	China Star Entertainment, Ltd.	8,950,000		697,999
# *	China Strategic Holdings, Ltd.	79,596,250		579,812
	China Ting Group Holdings, Ltd.	2,565,151		128,457
*	China Tonghai International Financial, Ltd.	1,300,000		116,599
	Chinese Estates Holdings, Ltd.	3,104,500		2,921,853
*	Chinlink International Holdings, Ltd.	909,800		98,560
	Chinney Investments, Ltd.	1,180,000		367,333
	Chong Hing Bank, Ltd.	196,000		330,329
	Chow Sang Sang Holdings International, Ltd.	2,446,000		3,966,748
	CHTC Fong’s International Co., Ltd.	42,000		5,125

The Asia Pacific Small Company Series
continued

		Shares	Value»
HONG KONG — (Continued)
	Chuang’s China Investments, Ltd.	8,571,407	$	518,760
	Chuang’s Consortium International, Ltd.	7,399,043		1,342,941
	CITIC Telecom International Holdings, Ltd.	13,219,125		4,150,960
#	CK Life Sciences Intl Holdings, Inc.	23,450,000		1,180,928
*	CMMB Vision Holdings, Ltd.	9,204,000		117,675
	CNQC International Holdings, Ltd.	4,480,000		966,260
	CNT Group, Ltd.	8,303,264		367,193
# *	Common Splendor International Health Industry Group, Ltd.	15,118,000		1,292,950
*	Continental Holdings, Ltd.	450,000		6,365
#	Convenience Retail Asia, Ltd.	142,000		59,797
# *	Convoy Global Holdings, Ltd.	38,622,000		154,154
*	Cosmopolitan International Holdings, Ltd.	3,280,000		540,628
#	Cowell e Holdings, Inc.	5,499,000		631,066
*	CP Lotus Corp.	11,880,000		149,714
*	Crocodile Garments	2,196,000		176,316
	Cross-Harbour Holdings, Ltd. (The)	1,526,645		2,551,665
	CSI Properties, Ltd.	47,046,383		1,840,112
*	CST Group, Ltd.	140,296,000		412,590
*	Culturecom Holdings, Ltd.	45,000		1,837
	CW Group Holdings, Ltd.	1,361,500		40,106
	Dah Sing Banking Group, Ltd.	4,055,516		7,717,353
	Dah Sing Financial Holdings, Ltd.	1,691,344		9,079,052
#	Dickson Concepts International, Ltd.	1,466,000		636,617
*	Digital Domain Holdings, Ltd.	34,370,000		470,033
# *	Dingyi Group Investment, Ltd.	1,810,000		115,971
*	DTXS Silk Road Investment Holdings Co., Ltd.	42,000		21,176
	Dynamic Holdings, Ltd.	70,000		56,311
	Eagle Nice International Holdings, Ltd.	2,154,000		865,477
	EcoGreen International Group, Ltd.	1,994,640		400,008
*	eForce Holdings, Ltd.	8,360,000		124,345
*	Elegance Optical International Holdings, Ltd.	740,000		43,432
	Emperor Capital Group, Ltd.	31,527,000		1,491,210
	Emperor Entertainment Hotel, Ltd.	5,040,000		907,069
#	Emperor International Holdings, Ltd.	9,980,753		2,445,131
	Emperor Watch & Jewellery, Ltd.	30,690,000		1,214,411
#	Enerchina Holdings, Ltd.	15,239,400		759,534
*	Energy International Investments Holdings, Ltd.	680,000		17,531
*	ENM Holdings, Ltd.	16,604,000		1,448,652
# *	Esprit Holdings, Ltd.	18,057,850		4,111,063
*	Eternity Investment, Ltd.	830,000		19,459
	Fairwood Holdings, Ltd.	877,100		2,924,020
	Far East Consortium International, Ltd.	10,737,463		5,054,506
*	Far East Holdings International, Ltd.	1,911,000		110,160
# *	FIH Mobile, Ltd.	28,627,000		2,669,855
	First Pacific Co., Ltd.	13,746,000		6,151,429
*	First Shanghai Investments, Ltd.	7,496,000		431,680
	Fountain SET Holdings, Ltd.	6,628,000		872,906
	Four Seas Mercantile Holdings, Ltd.	610,000		276,596
*	Freeman FinTech Corp., Ltd.	181,300,000		997,480
#	Future Bright Holdings, Ltd.	3,288,000		331,737
	Genting Hong Kong, Ltd.	71,000		10,252
	Get Nice Financial Group, Ltd.	2,382,600		259,195
	Get Nice Holdings, Ltd.	56,380,000		1,729,379
	Giordano International, Ltd.	13,596,000		6,041,777
# *	Global Brands Group Holding, Ltd.	69,204,000		3,844,482
	Glorious Sun Enterprises, Ltd.	4,328,000		459,559

The Asia Pacific Small Company Series
continued

		Shares	Value»
HONG KONG — (Continued)
	Gold Peak Industries Holdings, Ltd.	3,029,642	$	296,369
	Golden Resources Development International, Ltd.	3,150,500		180,995
# *	Gold-Finance Holdings, Ltd.	9,780,000		2,184,031
# *	Good Resources Holdings, Ltd.	9,720,000		239,462
#	Goodbaby International Holdings, Ltd.	6,270,000		1,945,669
*	GR Properties, Ltd.	2,204,000		209,775
	Great Eagle Holdings, Ltd.	728,248		3,325,688
*	Greenheart Group, Ltd.	1,069,400		99,609
*	Greentech Technology International, Ltd.	6,240,000		58,513
*	G-Resources Group, Ltd.	246,174,600		1,575,000
	Guangnan Holdings, Ltd.	2,363,600		272,335
#	Guotai Junan International Holdings, Ltd.	35,910,797		6,529,272
#	Haitong International Securities Group, Ltd.	20,987,400		6,879,214
	Hang Lung Group, Ltd.	123,000		302,818
	Hanison Construction Holdings, Ltd.	2,405,649		415,169
*	Hao Tian Development Group, Ltd.	19,412,400		600,645
	Harbour Centre Development, Ltd.	935,500		1,687,739
	High Fashion International, Ltd.	250,000		55,140
*	HJ Capital International Holdings Co., Ltd.	1,900,000		22,830
	HKBN, Ltd.	6,627,000		9,948,969
*	HKBridge Financial Holdings, Ltd.	103,000		12,832
	HKR International, Ltd.	7,166,969		3,417,816
	Hon Kwok Land Investment Co., Ltd.	388,800		184,729
	Hong Kong Aircraft Engineering Co., Ltd.	157,200		1,434,242
	Hong Kong Ferry Holdings Co., Ltd.	866,300		875,556
*	Hong Kong Finance Investment Holding Group, Ltd.	4,572,000		584,338
#	Hong Kong International Construction Investment        Management Group Co., Ltd.	2,892,000		815,015
	Hong Kong Shanghai Alliance Holdings, Ltd.	1,248,002		106,018
# *	Hong Kong Television Network, Ltd.	4,782,751		1,315,550
#	Hongkong & Shanghai Hotels, Ltd. (The)	3,622,845		4,999,387
	Hongkong Chinese, Ltd.	5,038,000		577,726
#	Honma Golf, Ltd.	1,028,500		821,296
	Hop Hing Group Holdings, Ltd.	13,596,000		260,595
	Hopewell Holdings, Ltd.	3,604,500		11,137,195
# *	Hsin Chong Group Holdings, Ltd.	10,323,403		86,358
#	Huarong International Financial Holdings, Ltd.	732,000		65,060
# *	Huarong Investment Stock Corp., Ltd.	1,050,000		34,117
*	Huisheng International Holdings, Ltd.	1,128,000		22,951
	Hung Hing Printing Group, Ltd.	3,040,000		446,171
#	Hutchison Telecommunications Hong Kong Holdings, Ltd.	14,462,000		5,338,517
*	I-CABLE Communications, Ltd.	3,210,000		54,955
	IGG, Inc.	12,806,000		13,575,737
*	Imagi International Holdings, Ltd.	2,590,300		551,706
	International Housewares Retail Co., Ltd.	1,459,000		307,676
	IPE Group, Ltd.	3,345,000		452,098
# *	IRC, Ltd.	29,662,266		304,326
	IT, Ltd.	5,092,532		2,336,455
#	ITC Properties Group, Ltd.	6,221,372		1,780,630
	Jacobson Pharma Corp., Ltd.	1,992,000		410,966
	Johnson Electric Holdings, Ltd.	2,731,250		6,126,294
	Kader Holdings Co., Ltd.	788,000		97,766
	Kam Hing International Holdings, Ltd.	1,830,000		165,667
	Karrie International Holdings, Ltd.	2,278,000		276,209
#	Keck Seng Investments	912,600		716,970
	Kerry Logistics Network, Ltd.	3,255,000		5,162,118

The Asia Pacific Small Company Series
continued

		Shares	Value»
HONG KONG — (Continued)
	Kin Yat Holdings, Ltd.	242,000	$	40,195
	Kingmaker Footwear Holdings, Ltd.	2,248,955		481,201
	Kingston Financial Group, Ltd.	10,000		2,317
*	KK Culture Holdings, Ltd.	120,000		25,107
	Kowloon Development Co., Ltd.	2,982,000		3,071,791
*	Kwan On Holdings, Ltd.	2,340,000		173,337
	Kwoon Chung Bus Holdings, Ltd.	44,000		24,134
	Lai Sun Development Co., Ltd.	2,025,910		2,938,848
	Lai Sun Garment International, Ltd.	673,055		860,663
	Lam Soon Hong Kong, Ltd.	302,310		493,569
*	Landing International Development, Ltd.	2,796,400		583,188
	Landsea Green Group Co., Ltd.	2,788,000		299,256
	Langham Hospitality Investments and Langham        Hospitality Investments, Ltd.	1,152,000		409,835
# *	LEAP Holdings Group, Ltd.	5,160,000		369,656
	Lifestyle International Holdings, Ltd.	2,741,000		4,739,826
	Lippo China Resources, Ltd.	20,922,000		439,357
	Lippo, Ltd.	1,161,700		396,626
	Liu Chong Hing Investment, Ltd.	1,387,200		2,031,400
	L’Occitane International SA	2,025,250		3,793,051
*	LT Commercial Real Estate, Ltd.	40,000		27,505
	Luk Fook Holdings International, Ltd.	3,976,000		13,119,437
	Luks Group Vietnam Holdings Co., Ltd.	514,913		137,364
	Lung Kee Bermuda Holdings	1,577,875		676,994
#	Macau Legend Development, Ltd.	18,092,000		3,164,221
	Magnificent Hotel Investment, Ltd.	13,170,000		303,372
*	Magnus Concordia Group, Ltd.	8,740,000		229,361
*	Man Sang International, Ltd.	132,000		8,304
#	Man Wah Holdings, Ltd.	17,870,800		8,246,406
*	Mason Group Holdings, Ltd.	86,653,399		1,570,357
*	Master Glory Group, Ltd.	394,860		906
*	Master Glory Group, Ltd.	41,360,592		94,937
	Matrix Holdings, Ltd.	1,067,414		336,509
*	Maxnerva Technology Services, Ltd.	982,000		94,922
*	Mei Ah Entertainment Group, Ltd.	1,080,000		31,972
	Meilleure Health International Industry Group, Ltd.	2,118,000		111,352
	Melbourne Enterprises, Ltd.	39,500		948,384
	Microport Scientific Corp.	3,759,000		4,487,670
	Midland Holdings, Ltd.	5,254,000		885,171
*	Midland IC&I, Ltd.	2,223,375		57,492
	Ming Fai International Holdings, Ltd.	2,148,000		272,468
#	Miramar Hotel & Investment	1,081,000		1,872,499
	Modern Dental Group, Ltd.	2,336,000		388,946
# *	Mongolian Mining Corp.	19,677,500		410,407
	Morris Holdings, Ltd.	1,392,000		175,591
	NagaCorp., Ltd.	9,236,000		8,467,775
	Nameson Holdings, Ltd.	7,966,000		724,829
#	Nanfang Communication Holdings, Ltd.	584,000		381,622
	Nanyang Holdings, Ltd.	133,500		899,543
	National Electronics Hldgs.	2,668,600		374,892
*	National United Resources Holdings, Ltd.	18,280,000		62,006
*	Neo-Neon Holdings, Ltd.	2,625,500		214,793
*	New Century Group Hong Kong, Ltd.	13,351,464		219,126
*	NEW Concepts Holdings, Ltd.	1,012,000		337,787
*	New Sports Group, Ltd.	2,566,000		106,902
*	New Times Energy Corp., Ltd.	10,056,600		171,788
# *	NewOcean Energy Holdings, Ltd.	10,212,000		3,706,327

The Asia Pacific Small Company Series
continued

		Shares	Value»
HONG KONG — (Continued)
*	Newtree Group Holdings, Ltd.	9,900,000	$	670,086
*	Nimble Holdings Co., Ltd.	1,002,000		86,338
*	OCI International Holdings, Ltd.	56,000		10,752
#	OP Financial, Ltd.	8,200,000		2,647,510
	Orange Sky Golden Harvest Entertainment Holdings, Ltd.	10,874,706		501,051
	Oriental Watch Holdings	3,224,800		713,307
*	Pacific Andes International Holdings, Ltd.	19,435,067		67,907
	Pacific Basin Shipping, Ltd.	35,211,000		7,715,133
	Pacific Textiles Holdings, Ltd.	8,287,000		8,368,516
	Pak Fah Yeow International, Ltd.	5,000		1,959
	Paliburg Holdings, Ltd.	3,180,830		1,163,102
# *	Paradise Entertainment, Ltd.	3,652,000		386,133
	PC Partner Group, Ltd.	2,508,000		924,884
	Pegasus International Holdings, Ltd.	172,000		21,713
	Perfect Shape Medical, Ltd.	4,076,000		1,008,359
#	Pico Far East Holdings, Ltd.	5,886,000		1,991,617
*	Pine Technology Holdings, Ltd.	326,000		25,821
	Playmates Holdings, Ltd.	7,082,000		922,189
	Playmates Toys, Ltd.	6,328,000		516,526
	Plover Bay Technologies, Ltd.	2,192,000		313,915
#	Pokfulam Development Co.	234,000		509,604
	Polytec Asset Holdings, Ltd.	12,998,526		1,093,343
*	PT International Development Co., Ltd.	4,365,150		276,603
	Public Financial Holdings, Ltd.	3,166,000		1,279,321
*	PuraPharm Corp., Ltd.	41,000		7,830
*	PYI Corp., Ltd.	30,759,973		454,797
	Qianhai Health Holdings, Ltd.	107,749		4,141
*	Quali-Smart Holdings, Ltd.	152,000		11,861
*	Rare Earth Magnesium Technology Group Holdings, Ltd.	6,850,000		271,627
# *	Realord Group Holdings, Ltd.	3,664,000		2,126,693
	Regal Hotels International Holdings, Ltd.	2,937,800		1,582,881
*	Regent Pacific Group, Ltd.	10,120,000		303,894
#	Regina Miracle International Holdings, Ltd.	2,165,000		1,089,712
#	Sa Sa International Holdings, Ltd.	15,869,522		6,114,362
	Safety Godown Co., Ltd.	400,000		674,117
	SAS Dragon Holdings, Ltd.	2,182,000		666,730
#	SEA Holdings, Ltd.	1,669,523		1,903,687
#	Shenwan Hongyuan HK, Ltd.	4,291,250		870,605
	Shun Ho Property Investments, Ltd.	1,254,757		420,520
	Shun Tak Holdings, Ltd.	14,673,419		4,695,397
# *	Shunten International Holdings, Ltd.	12,852,000		351,108
*	Silver Base Group Holdings, Ltd.	6,728,515		430,321
*	Sincere Watch Hong Kong, Ltd.	4,450,000		52,488
	Sing Tao News Corp., Ltd.	1,974,000		211,247
	Singamas Container Holdings, Ltd.	12,870,000		2,069,429
	SIS International Holdings	34,000		19,706
	SITC International Holdings Co., Ltd.	4,210,000		3,093,182
#	Sitoy Group Holdings, Ltd.	2,487,000		825,828
*	Sky Light Holdings, Ltd.	454,000		29,766
	SmarTone Telecommunications Holdings, Ltd.	4,228,481		5,877,725
*	SOCAM Development, Ltd.	1,514,170		367,458
# *	Solartech International Holdings, Ltd.	19,120,000		1,908,694
*	Solomon Systech International, Ltd.	11,998,000		364,645
	Soundwill Holdings, Ltd.	645,500		845,036
*	South China Financial Holdings, Ltd.	21,850,000		33,661

The Asia Pacific Small Company Series
continued

		Shares	Value»
HONG KONG — (Continued)
*	South China Holdings Co., Ltd.	17,774,502	$	492,016
*	South Shore Holdings, Ltd.	156,750		7,326
	Stella International Holdings, Ltd.	2,204,000		2,204,772
	Stelux Holdings International, Ltd.	1,501,400		46,436
*	Success Universe Group, Ltd.	6,716,000		240,286
# *	Summit Ascent Holdings, Ltd.	8,864,000		1,085,680
	Sun Hing Vision Group Holdings, Ltd.	358,000		116,889
	Sun Hung Kai & Co., Ltd.	5,357,429		2,416,122
#	SUNeVision Holdings, Ltd.	1,066,000		575,632
*	Synergy Group Holdings International, Ltd.	652,000		103,253
	TAI Cheung Holdings, Ltd.	2,176,000		2,029,058
	Tai Sang Land Development, Ltd.	781,910		483,871
#	Tai United Holdings, Ltd.	670,000		23,990
*	Talent Property Group, Ltd.	14,355,000		82,528
#	Tan Chong International, Ltd.	1,176,000		374,881
#	Tao Heung Holdings, Ltd.	1,468,000		247,456
	Television Broadcasts, Ltd.	2,821,900		5,958,453
*	Termbray Industries International Holdings, Ltd.	2,252,900		113,052
	Tern Properties Co., Ltd.	51,200		27,576
#	Texwinca Holdings, Ltd.	7,124,000		2,426,464
*	TFG International Group, Ltd.	1,376,000		42,857
*	Theme International Holdings, Ltd.	3,620,000		63,648
#	Tian Teck Land, Ltd.	1,024,000		1,110,927
	TK Group Holdings, Ltd.	1,120,000		597,739
*	TOM Group, Ltd.	1,094,000		268,732
# *	Town Health International Medical Group, Ltd.	6,692,000		588,818
	Tradelink Electronic Commerce, Ltd.	5,738,000		834,969
	Transport International Holdings, Ltd.	1,455,464		3,619,467
*	Trinity, Ltd.	8,046,000		324,158
*	TSC Group Holdings, Ltd.	3,163,000		193,593
	Tsui Wah Holdings, Ltd.	4,630,000		436,542
	Union Medical Healthcare, Ltd.	1,850,097		935,260
#	United Laboratories International Holdings, Ltd. (The)	7,572,000		5,262,305
*	Universal Technologies Holdings, Ltd.	7,410,000		212,371
*	Universe Entertainment and Culture Group Co., Ltd.	405,000		26,352
*	Up Energy Development Group, Ltd.	3,929,000		12,125
	Upbest Group, Ltd.	72,000		9,579
*	Value Convergence Holdings, Ltd.	8,372,000		600,643
	Value Partners Group, Ltd.	8,027,000		5,986,706
	Vanke Property Overseas, Ltd.	49,000		29,484
	Vantage International Holdings, Ltd.	3,160,000		234,267
	Vedan International Holdings, Ltd.	3,576,000		351,056
	Victory City International Holdings, Ltd.	37,535,660		551,522
	Vitasoy International Holdings, Ltd.	5,049,000		16,095,738
#	VPower Group International Holdings, Ltd.	1,330,000		523,379
#	VSTECS Holdings, Ltd.	7,347,600		3,487,759
	VTech Holdings, Ltd.	1,282,800		15,070,877
	Wai Kee Holdings, Ltd.	7,558,738		3,546,230
*	Wan Kei Group Holdings, Ltd.	730,000		58,542
	Wang On Group, Ltd.	38,320,000		357,592
# *	We Solutions, Ltd.	8,956,000		607,016
	Win Hanverky Holdings, Ltd.	3,074,000		259,046
*	Winfull Group Holdings, Ltd.	9,512,000		136,427
	Wing On Co. International, Ltd.	759,000		2,518,175
	Wing Tai Properties, Ltd.	2,165,331		1,439,692
*	Wonderful Sky Financial Group Holdings, Ltd.	1,386,000		216,537
	Wong’s International Holdings, Ltd.	432,641		141,181

The Asia Pacific Small Company Series
continued

		Shares	Value»
HONG KONG — (Continued)
	Wong’s Kong King International	32,000	$	4,252
	Yangtzekiang Garment, Ltd.	500,500		180,764
# *	Yat Sing Holdings, Ltd.	1,385,000		33,519
	Yau Lee Holdings, Ltd.	388,000		68,069
	YGM Trading, Ltd.	447,000		393,841
	YT Realty Group, Ltd.	749,000		230,099
	YTO Express Holdings, Ltd.	40,000		11,528
#	Yugang International, Ltd.	91,398,000		2,756,515
# *	Yunfeng Financial Group, Ltd.	360,000		177,064
*	ZH International Holdings, Ltd.	280,000		8,586
TOTAL HONG KONG				474,671,247
NEW ZEALAND — (5.6%)
	Abano Healthcare Group, Ltd.	49,184		235,927
	Air New Zealand, Ltd.	548,222		1,002,342
#	Arvida Group, Ltd.	532,456		451,656
	Briscoe Group, Ltd.	2,235		4,875
	CBL Corp., Ltd.	52,334		40,598
#	Chorus, Ltd.	2,823,444		8,760,943
	Colonial Motor Co., Ltd. (The)	144,588		750,500
	Comvita, Ltd.	22,618		84,261
	EBOS Group, Ltd.	449,499		6,126,853
	Evolve Education Group, Ltd.	36,611		10,305
	Freightways, Ltd.	964,970		4,649,587
	Genesis Energy, Ltd.	2,127,349		3,249,846
	Gentrack Group, Ltd.	79,007		347,947
	Hallenstein Glasson Holdings, Ltd.	296,323		1,140,774
	Heartland Group Holdings, Ltd.	1,432,961		1,363,964
	Infratil, Ltd.	3,881,965		8,678,171
#	Investore Property, Ltd.	174,811		173,387
	Kathmandu Holdings, Ltd.	835,391		1,465,572
	Mainfreight, Ltd.	511,030		9,485,688
	Methven, Ltd.	96,877		74,595
	Metlifecare, Ltd.	890,368		3,392,384
#	Metro Performance Glass, Ltd.	76,447		42,037
#	Millennium & Copthorne Hotels New Zealand, Ltd.	395,725		805,660
	NEW Zealand King Salmon Investments, Ltd.	13,526		23,518
	New Zealand Refining Co., Ltd. (The)	718,881		1,105,710
	NZME, Ltd.	16,366		6,960
	NZME, Ltd.	945,851		402,789
#	NZX, Ltd.	1,071,454		736,208
	Oceania Healthcare, Ltd.	285,106		214,447
*	Pacific Edge, Ltd.	442,720		115,839
	PGG Wrightson, Ltd.	1,130,027		428,317
	Port of Tauranga, Ltd.	951,169		3,158,551
*	Pushpay Holdings, Ltd.	517,601		1,206,122
#	Restaurant Brands New Zealand, Ltd.	834,838		4,679,732
*	Rubicon, Ltd.	1,442,620		235,929
	Sanford, Ltd.	388,865		1,892,324
	Scales Corp., Ltd.	297,306		897,772
	Scott Technology, Ltd.	45,734		91,385
*	Serko, Ltd.	24,873		52,472
#	Skellerup Holdings, Ltd.	739,935		986,360
	SKY Network Television, Ltd.	230,695		338,277
	SKYCITY Entertainment Group, Ltd.	4,690,050		11,745,722
#	Steel & Tube Holdings, Ltd.	406,585		340,311

The Asia Pacific Small Company Series
continued

		Shares	Value»
NEW ZEALAND — (Continued)
	Summerset Group Holdings, Ltd.	1,232,905	$	5,374,182
*	Synlait Milk, Ltd.	284,409		1,618,772
	Tilt Renewables, Ltd.	87,581		131,145
	Tourism Holdings, Ltd.	522,907		1,709,078
*	TOWER, Ltd.	2,065,565		999,142
#	Trade Me Group, Ltd.	2,203,470		6,985,466
	Trustpower, Ltd.	227,918		909,790
	Turners Automotive Group, Ltd.	25,820		47,271
#	Vector, Ltd.	1,182,248		2,628,573
	Vista Group International, Ltd.	142,186		348,461
#	Warehouse Group, Ltd. (The)	303,126		416,239
	Z Energy, Ltd.	51,678		206,107
TOTAL NEW ZEALAND				102,370,843
SINGAPORE — (10.1%)
*	Abterra, Ltd.	230,320		4,864
	Accordia Golf Trust	4,016,300		1,435,386
#	AEM Holdings, Ltd.	2,072,100		1,202,174
#	Amara Holdings, Ltd.	974,800		302,691
#	Ascendas India Trust	3,404,900		2,652,049
*	ASL Marine Holdings, Ltd.	148,950		8,256
	Avarga, Ltd.	3,076,900		437,417
*	Baker Technology, Ltd.	289,580		99,282
	Banyan Tree Holdings, Ltd.	1,145,200		413,770
#	Best World International, Ltd.	3,657,250		4,769,961
#	Bonvests Holdings, Ltd.	950,000		892,475
	Boustead Projects, Ltd.	497,612		292,851
	Boustead Singapore, Ltd.	1,898,536		1,071,237
#	BreadTalk Group, Ltd.	2,058,300		1,280,192
#	Bukit Sembawang Estates, Ltd.	1,192,003		4,602,631
	Bund Center Investment, Ltd.	659,825		296,023
#	Centurion Corp., Ltd.	1,342,000		407,362
#	China Aviation Oil Singapore Corp., Ltd.	2,654,599		2,645,484
#	China Sunsine Chemical Holdings, Ltd.	1,857,700		1,383,237
#	Chip Eng Seng Corp., Ltd.	3,729,600		1,807,489
	Chuan Hup Holdings, Ltd.	3,800,000		809,600
#	CITIC Envirotech, Ltd.	1,618,100		468,361
*	Cityneon Holdings, Ltd.	666,000		621,644
	Civmec, Ltd.	162,700		58,572
# *	COSCO Shipping International Singapore Co., Ltd.	8,120,500		2,085,687
# *	Creative Technology, Ltd.	483,450		2,151,887
#	CSE Global, Ltd.	4,077,500		1,326,834
*	Del Monte Pacific, Ltd.	2,449,764		309,839
	Delfi, Ltd.	788,500		727,559
	Delong Holdings, Ltd.	148,300		704,098
	DMX Technologies Group, Ltd.	0		0
	Duty Free International, Ltd.	720,700		101,558
*	Dyna-Mac Holdings, Ltd.	2,007,300		159,326
	Elec & Eltek International Co., Ltd.	163,500		210,008
	EnGro Corp., Ltd.	238,500		147,993
# *	Ezion Holdings, Ltd.	37,496,778		1,518,685
# *	Ezra Holdings, Ltd.	12,922,168		98,123
	Far East Orchard, Ltd.	1,168,203		1,063,887
#	First Resources, Ltd.	5,034,100		5,740,622
	First Sponsor Group, Ltd.	484,728		444,707
	Food Empire Holdings, Ltd.	1,418,200		563,638

The Asia Pacific Small Company Series
continued

		Shares	Value»
SINGAPORE — (Continued)
# *	Fragrance Group, Ltd.	6,077,000	$	624,187
	Fraser and Neave, Ltd.	8,000		10,114
#	Frencken Group, Ltd.	1,066,300		320,493
#	Fu Yu Corp., Ltd.	2,542,400		312,423
*	Gallant Venture, Ltd.	4,992,500		477,325
#	Geo Energy Resources, Ltd.	4,030,900		671,283
	GK Goh Holdings, Ltd.	1,484,065		1,009,300
	GL, Ltd.	3,431,500		1,811,732
#	Golden Agri-Resources, Ltd.	29,422,000		5,424,532
#	Golden Energy & Resources, Ltd.	603,700		98,206
	GP Industries, Ltd.	2,567,609		1,250,146
#	GuocoLand, Ltd.	1,624,414		1,959,403
#	Halcyon Agri Corp., Ltd.	1,718,048		594,931
#	Hanwell Holdings, Ltd.	1,888,219		292,833
#	Haw Par Corp., Ltd.	221,400		2,055,236
#	Health Management International, Ltd.	1,746,730		681,694
#	Hiap Hoe, Ltd.	498,000		303,323
# *	Hi-P International, Ltd.	1,451,800		799,223
	Ho Bee Land, Ltd.	1,623,600		2,851,043
#	Hong Fok Corp., Ltd.	3,531,394		1,695,319
*	Hong Leong Asia, Ltd.	1,830,000		760,775
	Hong Leong Finance, Ltd.	584,100		1,067,197
	Hotel Grand Central, Ltd.	1,626,983		1,560,204
	Hour Glass, Ltd. (The)	1,814,832		831,281
	Hutchison Port Holdings Trust	13,641,000		3,355,550
	Hwa Hong Corp., Ltd.	2,123,500		460,454
# *	Hyflux, Ltd.	3,707,700		37,078
	iFAST Corp., Ltd.	886,000		755,503
#	Indofood Agri Resources, Ltd.	3,498,500		505,826
	Isetan Singapore, Ltd.	119,000		307,562
#	Japfa, Ltd.	3,954,200		1,900,288
#	k1 Ventures, Ltd.	1,005,220		71,120
#	Keppel Infrastructure Trust	12,259,032		4,074,195
	Keppel Telecommunications & Transportation, Ltd.	1,369,300		1,827,616
	Koh Brothers Group, Ltd.	1,432,000		254,721
#	KSH Holdings, Ltd.	1,278,300		489,274
#	Lian Beng Group, Ltd.	2,611,200		877,651
	Low Keng Huat Singapore, Ltd.	912,900		362,551
	Lum Chang Holdings, Ltd.	1,094,030		272,620
#	M1, Ltd.	3,171,100		4,830,196
#	Mandarin Oriental International, Ltd.	1,308,800		2,474,463
*	Marco Polo Marine, Ltd.	3,322,500		52,876
#	Memtech International, Ltd.	214,100		106,918
	Metro Holdings, Ltd.	2,860,392		2,212,878
	Mewah International, Inc.	89,000		17,429
	Micro-Mechanics Holdings, Ltd.	300		390
# *	Midas Holdings, Ltd.	9,643,353		501,261
# *	mm2 Asia, Ltd.	2,558,800		674,650
# *	Nam Cheong, Ltd.	6,557,040		52,072
	Nera Telecommunications, Ltd.	1,143,400		235,424
	New Toyo International Holdings, Ltd.	1,510,700		251,264
#	NSL, Ltd.	409,900		343,868
#	OUE, Ltd.	2,153,700		2,179,930
#	Oxley Holdings, Ltd.	6,958,356		1,513,090
# *	Pacc Offshore Services Holdings, Ltd.	1,132,900		184,944
	Pan-United Corp., Ltd.	2,435,750		492,309
#	Penguin International, Ltd.	446,032		99,695

The Asia Pacific Small Company Series
continued

		Shares	Value»
SINGAPORE — (Continued)
	Perennial Real Estate Holdings, Ltd.	167,100	$	83,902
#	Q&M Dental Group Singapore, Ltd.	2,269,300		852,843
	QAF, Ltd.	1,526,980		810,252
# *	Raffles Education Corp., Ltd.	5,429,723		588,785
#	Raffles Medical Group, Ltd.	6,967,256		5,291,091
	RHT Health Trust	3,131,500		1,672,802
	Riverstone Holdings, Ltd.	1,274,700		1,096,890
#	Roxy-Pacific Holdings, Ltd.	505,740		139,035
	SBS Transit, Ltd.	926,200		1,732,466
	Sembcorp Marine, Ltd.	2,487,400		2,865,210
	Sheng Siong Group, Ltd.	5,336,200		4,162,529
	SHS Holdings, Ltd.	2,304,100		345,415
	SIA Engineering Co., Ltd.	1,101,700		2,250,572
#	SIIC Environment Holdings, Ltd.	4,929,320		960,117
#	Sinarmas Land, Ltd.	6,897,100		1,274,854
#	Sing Holdings, Ltd.	1,623,100		459,020
	Sing Investments & Finance, Ltd.	324,075		343,935
	Singapore Post, Ltd.	11,582,300		8,719,649
	Singapore Press Holdings, Ltd.	4,464,400		8,555,816
	Singapore Reinsurance Corp., Ltd.	1,514,530		334,066
	Singapore Shipping Corp., Ltd.	1,640,700		334,124
	Singapura Finance, Ltd.	286,624		186,444
# *	Sino Grandness Food Industry Group, Ltd.	4,412,635		608,550
#	Stamford Land Corp., Ltd.	3,297,700		1,168,550
	StarHub, Ltd.	5,848,900		7,947,710
	Straco Corp., Ltd.	130,000		67,095
#	Sunningdale Tech, Ltd.	1,117,560		1,117,575
*	SunVic Chemical Holdings, Ltd.	526,945		9,478
# *	Swiber Holdings, Ltd.	2,895,250		42,640
# *	Thomson Medical Group, Ltd.	4,294,500		242,280
	Tuan Sing Holdings, Ltd.	4,945,366		1,234,294
#	UMS Holdings, Ltd.	4,783,675		2,338,422
	United Engineers, Ltd.	3,318,328		6,304,881
	United Industrial Corp., Ltd.	132,369		267,756
#	United Overseas Insurance, Ltd.	181,850		857,395
	UOB-Kay Hian Holdings, Ltd.	2,086,021		1,851,579
#	Valuetronics Holdings, Ltd.	3,288,550		1,500,081
	Vibrant Group, Ltd.	2,058,620		248,093
	Vicom, Ltd.	119,500		515,877
	Wee Hur Holdings, Ltd.	2,769,000		440,079
	Wheelock Properties Singapore, Ltd.	2,220,800		3,366,913
	Wing Tai Holdings, Ltd.	3,932,167		5,480,416
	Yeo Hiap Seng, Ltd.	223,731		159,157
*	Yongnam Holdings, Ltd.	2,917,700		388,250
	Zhongmin Baihui Retail Group, Ltd.	26,900		11,021
TOTAL SINGAPORE				183,783,237
TOTAL COMMON STOCKS				1,719,710,078
RIGHTS/WARRANTS — (0.0%)
SINGAPORE — (0.0%)
*	Ezion Holdings, Ltd. Warrants 04/16/23	5,659,201		0
TOTAL INVESTMENT SECURITIES				1,719,710,078

The Asia Pacific Small Company Series
continued

		Shares	Value
SECURITIES LENDING COLLATERAL — (5.6%)
@ §	DFA Short Term Investment Fund	8,839,135	$	102,268,796
TOTAL INVESTMENTS — (100.0%)
(Cost $1,916,994,035)			$	1,821,978,874

CP	Certificate Participation.
SA	Special Assessment.
»	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.
Summary of the Series’ investments as of October 31, 2018, 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		—	$	957,976,330	—	$	957,976,330
Bermuda	$	266,260		—	—		266,260
Cayman Islands		29,840		—	—		29,840
China		—		612,321	—		612,321
Hong Kong		239,914		474,431,333	—		474,671,247
New Zealand		1,363,964		101,006,879	—		102,370,843
Singapore		370,655		183,412,582	—		183,783,237
Securities Lending Collateral		—		102,268,796	—		102,268,796
TOTAL	$	2,270,633	$	1,819,708,241	—	$	1,821,978,874

THE UNITED KINGDOM SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2018

		Shares	Value»
COMMON STOCKS — (98.8%)
COMMUNICATION SERVICES — (6.5%)
	4imprint Group P.L.C.	114,016	$	2,633,417
	Ascential P.L.C.	65,717		316,142
	Auto Trader Group P.L.C.	6,021,823		31,466,198
	Bloomsbury Publishing P.L.C.	140,804		346,282
	Centaur Media P.L.C.	537,905		248,642
	Cineworld Group P.L.C.	6,322,429		23,767,460
	Daily Mail & General Trust P.L.C., Class A	1,699,883		15,176,710
	Entertainment One, Ltd.	2,170,765		11,347,059
	Euromoney Institutional Investor P.L.C.	274,731		4,452,028
*	Future P.L.C.	65,382		362,964
	Gamma Communications P.L.C.	2,396		24,450
	Huntsworth P.L.C.	983,509		1,401,113
	Informa P.L.C.	1,270,811		11,596,883
	Inmarsat P.L.C.	2,400,987		13,962,773
	ITE Group P.L.C.	4,213,323		3,061,311
	KCOM Group P.L.C.	3,365,144		3,963,528
	Kin and Carta P.L.C.	910,137		1,107,536
	Reach P.L.C.	1,819,272		1,570,962
	Rightmove P.L.C.	1,829,639		10,561,726
	STV Group P.L.C.	4,868		23,465
#	TalkTalk Telecom Group P.L.C.	2,959,898		4,526,493
	Tarsus Group P.L.C.	244,568		873,365
TOTAL COMMUNICATION SERVICES				142,790,507
CONSUMER DISCRETIONARY — (20.6%)
	888 Holdings P.L.C.	1,602,285		3,789,804
	AA P.L.C.	3,294,472		4,210,608
*	ASOS PLC	13,101		912,688
	B&M European Value Retail SA	5,329,350		28,358,811
#	BCA Marketplace P.L.C.	414,501		1,065,698
	Bellway P.L.C.	839,178		30,779,041
	Berkeley Group Holdings P.L.C. (The)	19,260		860,792
	Bovis Homes Group P.L.C.	1,135,408		14,033,598
#	Card Factory P.L.C.	1,355,095		3,191,108
*	Carpetright P.L.C.	406,341		97,994
	Connect Group P.L.C.	1,312,384		571,469
	Countryside Properties P.L.C.	1,939,214		7,412,331
	Crest Nicholson Holdings P.L.C.	573,053		2,493,010
#	Debenhams P.L.C.	6,862,458		782,181
	DFS Furniture P.L.C.	939,264		2,497,729
	Dignity P.L.C.	314,122		4,000,086
	Dixons Carphone P.L.C.	5,191,340		11,223,805
	Domino’s Pizza Group P.L.C.	2,811,160		10,170,219
	Dunelm Group P.L.C.	529,023		4,031,468
*	EI Group P.L.C.	3,470,285		7,370,564
*	Findel P.L.C.	246,067		787,295
	Fuller Smith & Turner P.L.C., Class A	140,561		1,719,667
*	GAME Digital P.L.C.	15,397		5,349
	Games Workshop Group P.L.C.	201,170		7,901,916
	Gocompare.Com Group P.L.C.	1,864,523		1,978,465
	Greene King P.L.C.	2,728,082		16,789,690
	Greggs P.L.C.	628,498		9,320,182
	GVC CVR	6,643,757		919,689

The United Kingdom Small Company Series
continued

		Shares	Value»
CONSUMER DISCRETIONARY — (Continued)
	GVC Holdings P.L.C.	829,711	$	9,938,581
	Gym Group P.L.C. (The)	622,311		2,351,426
	Halfords Group P.L.C.	1,296,084		5,094,424
	Headlam Group P.L.C.	473,413		2,724,968
	Henry Boot P.L.C.	468,029		1,581,052
#	Hollywood Bowl Group P.L.C.	155,536		401,448
	Hostelworld Group P.L.C.	188,310		471,451
	Inchcape P.L.C.	2,896,356		20,004,211
	J D Wetherspoon P.L.C.	509,541		8,043,250
	JD Sports Fashion P.L.C.	2,556,369		13,323,239
	John Menzies P.L.C.	482,924		3,211,989
*	JPJ Group P.L.C.	390,614		3,069,466
	Lookers P.L.C.	1,959,534		2,394,116
	Marston’s P.L.C.	4,331,872		5,493,928
	McCarthy & Stone P.L.C.	1,823,184		3,147,908
	Merlin Entertainments P.L.C.	4,338,517		17,917,207
	Millennium & Copthorne Hotels P.L.C.	1,670,579		10,119,987
	Mitchells & Butlers P.L.C.	1,348,362		4,470,562
	MJ Gleeson P.L.C.	201,540		1,799,296
	Moneysupermarket.com Group P.L.C.	3,571,936		13,389,188
# *	Mothercare P.L.C.	1,543,280		384,598
	Motorpoint group P.L.C.	44,038		123,774
	N Brown Group P.L.C.	1,083,230		1,883,541
*	Ocado Group P.L.C.	2,765,277		30,182,185
#	On the Beach Group P.L.C.	686,985		3,758,535
	Pendragon P.L.C.	7,463,528		2,567,230
#	Pets at Home Group P.L.C.	2,062,834		2,896,893
	Photo-Me International P.L.C.	1,345,530		1,902,488
	Playtech P.L.C.	1,139,685		6,969,019
	Rank Group P.L.C.	874,026		1,786,291
	Redrow P.L.C.	1,738,820		11,740,510
	Restaurant Group P.L.C. (The)	1,285,921		3,949,678
	Revolution Bars Group P.L.C.	17,764		26,817
	Sportech P.L.C.	408,363		283,960
*	Sports Direct International P.L.C.	1,426,604		5,946,542
	SSP Group P.L.C.	2,882,681		24,577,258
	Superdry P.L.C.	287,961		2,971,061
	Ted Baker P.L.C.	158,643		3,713,443
	Thomas Cook Group P.L.C.	8,687,680		4,996,935
	Topps Tiles P.L.C.	925,429		741,657
	Vitec Group P.L.C. (The)	182,809		2,872,693
	WH Smith P.L.C.	697,855		17,346,819
	William Hill P.L.C.	5,838,359		15,694,600
TOTAL CONSUMER DISCRETIONARY				453,539,481
CONSUMER STAPLES — (4.7%)
	A.G. Barr P.L.C.	707,107		6,903,284
	Anglo-Eastern Plantations P.L.C.	107,628		792,507
	Britvic P.L.C.	1,623,694		16,392,263
	Carr’s Group P.L.C.	349,511		668,437
	Cranswick P.L.C.	328,907		12,143,090
	Dairy Crest Group P.L.C.	941,872		5,747,048
	Devro P.L.C.	968,275		2,031,224
	Fevertree Drinks P.L.C.	78,501		2,786,845
	Greencore Group P.L.C.	5,420,264		13,118,474
	Hilton Food Group P.L.C.	158,286		1,864,801

The United Kingdom Small Company Series
continued

		Shares	Value»
CONSUMER STAPLES — (Continued)
	McBride P.L.C.	1,090,323	$	1,762,868
	McColl’s Retail Group P.L.C.	60,390		98,488
# *	Premier Foods P.L.C.	4,937,259		2,403,540
	PZ Cussons P.L.C.	1,581,817		4,414,089
*	REA Holdings P.L.C.	50,639		167,796
	Stock Spirits Group P.L.C.	1,059,380		2,699,073
	Tate & Lyle P.L.C.	3,470,820		29,842,389
TOTAL CONSUMER STAPLES				103,836,216
ENERGY — (5.0%)
	Anglo Pacific Group P.L.C.	777,634		1,293,654
*	Cairn Energy P.L.C.	4,034,261		10,131,005
*	EnQuest P.L.C.	10,559,436		3,661,702
*	Faroe Petroleum P.L.C.	184,307		348,457
*	Genel Energy P.L.C.	311,974		863,996
*	Gulf Keystone Petroleum, Ltd.	1,160,816		3,296,168
*	Gulf Marine Services P.L.C.	125,859		66,170
*	Hunting P.L.C.	1,235,696		10,602,742
# *	Hurricane Energy P.L.C.	526,197		308,706
	John Wood Group P.L.C.	2,672,479		24,357,624
*	Lamprell P.L.C.	1,219,262		982,046
*	Nostrum Oil & Gas P.L.C.	184,064		483,419
*	Ophir Energy P.L.C.	4,489,030		2,364,586
	Petrofac, Ltd.	1,535,431		11,290,822
*	Premier Oil P.L.C.	5,111,162		7,011,781
*	Rockhopper Exploration P.L.C.	95,701		36,736
	Soco International P.L.C.	1,265,317		1,356,767
#	Stobart Group, Ltd.	1,600,249		4,340,740
*	Tullow Oil P.L.C.	9,184,155		26,349,926
TOTAL ENERGY				109,147,047
FINANCIALS — (16.2%)
#	Arrow Global Group P.L.C.	964,887		2,355,931
	Ashmore Group P.L.C.	2,459,810		11,055,009
	Bank of Georgia Group P.L.C.	236,507		4,719,563
	Beazley P.L.C.	3,286,678		22,067,924
	Brewin Dolphin Holdings P.L.C.	1,841,085		7,735,755
	Burford Capital, Ltd.	85,825		1,819,232
	Charles Stanley Group P.L.C.	122,025		506,655
	Charles Taylor P.L.C.	206,958		630,322
	Chesnara P.L.C.	720,194		3,163,760
	City of London Investment Group P.L.C.	5,500		26,503
	Close Brothers Group P.L.C.	976,050		18,332,330
	CMC Markets P.L.C.	685,144		1,027,518
	CYBG P.L.C.	6,020,590		20,685,533
	esure Group P.L.C.	1,683,935		5,991,029
*	Georgia Capital P.L.C.	231,899		3,465,373
	Hansard Global P.L.C.	16,468		10,156
	Hastings Group Holdings P.L.C.	1,413,583		3,340,893
	Hiscox, Ltd.	1,516,229		31,495,717
	IG Group Holdings P.L.C.	2,325,115		17,950,224
	Intermediate Capital Group P.L.C.	1,852,823		22,503,673
	International Personal Finance P.L.C.	1,264,200		2,881,125
# *	IP Group P.L.C.	2,384,612		3,256,084
	Jardine Lloyd Thompson Group P.L.C.	809,362		19,503,096
	Jupiter Fund Management P.L.C.	2,539,187		10,928,689

The United Kingdom Small Company Series
continued

		Shares	Value»
FINANCIALS — (Continued)
	Just Group P.L.C.	3,520,684	$	3,990,391
#	Lancashire Holdings, Ltd.	1,298,727		9,790,876
	Liontrust Asset Management P.L.C.	1,513		11,250
	Man Group P.L.C.	10,998,653		21,822,503
*	Metro Bank P.L.C.	64,014		1,816,594
	NEX Group P.L.C.	1,743,102		25,279,326
	Non-Standard Finance P.L.C.	215,168		181,980
	Numis Corp. P.L.C.	23,503		87,091
	OneSavings Bank P.L.C.	1,267,768		6,038,967
	Paragon Banking Group P.L.C.	1,810,618		9,839,762
	Phoenix Group Holdings	3,125,763		24,025,049
*	Provident Financial P.L.C.	713,469		4,650,849
	Quilter P.L.C.	2,325,076		3,440,141
	Rathbone Brothers P.L.C.	285,623		8,402,950
	River & Mercantile Group P.L.C.	10,512		39,032
	S&U P.L.C.	20,717		546,580
	Saga P.L.C.	5,841,424		8,894,666
	TP ICAP P.L.C.	3,254,964		12,058,790
*	Waterloo Investment Holdings	4,000		100
TOTAL FINANCIALS				356,368,991
HEALTHCARE — (3.1%)
	Alliance Pharma P.L.C.	248,411		212,489
*	BTG P.L.C.	2,027,017		14,278,983
#	CareTech Holdings P.L.C.	149,456		755,993
# *	Circassia Pharmaceuticals P.L.C.	516,889		370,298
	Consort Medical P.L.C.	288,489		4,105,761
	ConvaTec Group P.L.C.	555,052		1,147,280
	CVS Group P.L.C.	43,684		469,684
	Dechra Pharmaceuticals P.L.C.	7,125		208,179
	EMIS Group P.L.C.	19,486		225,106
	Genus P.L.C.	201,423		5,690,793
	Hikma Pharmaceuticals P.L.C.	709,610		17,211,561
*	Indivior P.L.C.	4,141,064		9,966,348
	Integrated Diagnostics Holdings P.L.C.	330,094		1,141,787
#	Mediclinic International P.L.C.	1,126,051		5,411,713
#	Spire Healthcare Group P.L.C.	1,346,485		2,020,782
	UDG Healthcare P.L.C.	314,515		2,536,587
*	Vectura Group P.L.C.	3,739,729		3,397,314
TOTAL HEALTHCARE				69,150,658
INDUSTRIALS — (26.1%)
	Aggreko P.L.C.	1,503,944		16,482,453
	Air Partner P.L.C.	253,425		324,980
	Avon Rubber P.L.C.	177,528		2,717,471
	Babcock International Group P.L.C.	2,386,069		18,607,071
	Balfour Beatty P.L.C.	4,353,036		14,624,025
	BBA Aviation P.L.C.	7,229,201		22,169,451
	Biffa P.L.C.	711,141		2,131,432
	Bodycote P.L.C.	1,373,987		13,953,125
	Braemar Shipping Services P.L.C.	144,282		422,707
*	Capita P.L.C.	4,006,970		6,562,417
	Chemring Group P.L.C.	1,688,550		3,935,952
#	Clarkson P.L.C.	145,275		4,412,085
#	Clipper Logistics P.L.C.	153,780		511,389
*	Cobham P.L.C.	13,770,449		18,902,012

The United Kingdom Small Company Series
continued

		Shares	Value»
INDUSTRIALS — (Continued)
	Communisis P.L.C.	576,423	$	523,558
	Costain Group P.L.C.	689,487		3,305,164
	Dart Group P.L.C.	40,794		442,547
	De La Rue P.L.C.	665,602		4,082,382
# *	Dialight P.L.C.	105,397		523,646
	Diploma P.L.C.	741,498		12,434,144
*	Firstgroup P.L.C.	7,517,215		8,172,919
*	Flybe Group P.L.C.	616,871		80,530
	G4S P.L.C.	4,205,189		11,540,525
	Galliford Try P.L.C.	665,840		7,418,890
	Go-Ahead Group P.L.C. (The)	272,852		5,364,312
	Goodwin P.L.C.	383		12,459
	Grafton Group P.L.C.	1,493,774		13,799,516
	Harvey Nash Group P.L.C.	21,146		35,243
	Hays P.L.C.	10,095,835		21,142,022
	HomeServe P.L.C.	1,796,181		21,804,263
	Howden Joinery Group P.L.C.	4,514,716		27,032,776
	IMI P.L.C.	1,718,223		21,784,421
# *	Interserve P.L.C.	957,407		591,543
	IWG P.L.C.	3,542,658		10,396,631
	James Fisher & Sons P.L.C.	285,545		6,180,295
	John Laing Group P.L.C.	1,925,290		7,661,229
	Keller Group P.L.C.	477,111		3,945,980
#	Kier Group P.L.C.	559,723		6,265,171
*	Management Consulting Group P.L.C.	2,329,842		56,609
	Mears Group P.L.C.	756,835		3,432,934
	Meggitt P.L.C.	5,004,804		33,860,533
	Melrose Industries P.L.C.	317,733		683,950
#	Mitie Group P.L.C.	2,157,230		4,007,228
	Morgan Advanced Materials P.L.C.	1,766,207		6,218,670
	Morgan Sindall Group P.L.C.	215,216		3,261,813
	National Express Group P.L.C.	2,749,825		14,050,708
	Norcros P.L.C.	116,690		320,311
	Northgate P.L.C.	2,144,364		10,327,656
	Pagegroup P.L.C.	2,363,699		15,151,252
	PayPoint P.L.C.	353,675		3,570,350
	Polypipe Group P.L.C.	1,379,395		6,528,956
	Porvair P.L.C.	15,572		88,685
	QinetiQ Group P.L.C.	3,775,440		13,373,093
	Redde P.L.C.	114,097		256,676
	Renewi P.L.C.	4,138,015		2,712,334
# *	Renold P.L.C.	193,435		76,095
	Ricardo P.L.C.	293,740		2,668,165
	Robert Walters P.L.C.	381,498		2,845,095
	Rotork P.L.C.	5,593,291		21,417,382
	Royal Mail P.L.C.	480,649		2,206,625
	RPS Group P.L.C.	1,379,834		2,760,358
	Senior P.L.C.	3,198,036		11,138,669
	Severfield P.L.C.	1,090,941		971,475
	SIG P.L.C.	3,874,478		5,549,103
	Speedy Hire P.L.C.	2,836,561		2,037,879
	Spirax-Sarco Engineering P.L.C.	142,643		11,782,288
	Staffline Group P.L.C.	2,683		40,635
	Stagecoach Group P.L.C.	2,691,935		5,263,252
	SThree P.L.C.	599,372		2,345,088
	T Clarke P.L.C.	147,457		149,790
	Travis Perkins P.L.C.	1,526,689		21,562,494

The United Kingdom Small Company Series
continued

		Shares	Value»
INDUSTRIALS — (Continued)
	Trifast P.L.C.	484,434	$	1,192,604
	Tyman P.L.C.	794,254		2,809,220
	Ultra Electronics Holdings P.L.C.	558,008		10,257,144
	Vesuvius P.L.C.	1,601,934		11,114,363
*	Volex P.L.C.	307,047		304,835
	Volution Group P.L.C.	297,212		657,551
	Vp P.L.C.	159,998		2,059,018
	Weir Group P.L.C. (The)	419,180		8,482,751
	Wilmington P.L.C.	334,384		728,598
	Wincanton P.L.C.	713,322		1,889,093
*	Wizz Air Holdings P.L.C.	76,522		2,509,843
	XP Power, Ltd.	89,899		2,920,188
TOTAL INDUSTRIALS				575,938,095
INFORMATION TECHNOLOGY — (5.6%)
	AVEVA Group P.L.C.	418,740		14,006,908
	Computacenter P.L.C.	516,757		7,251,910
	DiscoverIE Group P.L.C.	393,898		1,794,321
	Electrocomponents P.L.C.	3,256,497		25,783,135
	Equiniti Group P.L.C.	1,948,852		5,360,938
	FDM Group Holdings P.L.C.	231,438		2,536,954
	Halma P.L.C.	483,238		8,200,730
	iomart Group P.L.C.	32,923		161,684
# *	IQE P.L.C.	333,707		386,252
	Kainos Group P.L.C.	193,043		970,925
	NCC Group P.L.C.	1,389,618		3,480,683
	Oxford Instruments P.L.C.	320,394		3,843,278
	Renishaw P.L.C.	239,289		12,858,337
	RM P.L.C.	336,909		849,476
	SDL P.L.C.	457,539		2,679,317
	Smart Metering Systems P.L.C.	10,459		76,902
	Softcat P.L.C.	634,004		5,229,752
	Spectris P.L.C.	723,646		19,798,756
	Spirent Communications P.L.C.	3,800,143		5,738,281
	Strix Group P.L.C.	109,334		207,640
*	Telit Communications P.L.C.	15,130		30,522
	TT Electronics P.L.C.	921,946		2,516,007
	Xaar P.L.C.	155,393		289,345
TOTAL INFORMATION TECHNOLOGY				124,052,053
MATERIALS — (6.2%)
*	Acacia Mining P.L.C.	180,334		352,679
*	Carclo P.L.C.	205,594		210,794
	Castings P.L.C.	159,566		787,413
	Centamin P.L.C.	6,191,392		7,862,423
	Central Asia Metals P.L.C.	39,530		109,558
	Elementis P.L.C.	3,762,522		9,830,472
	Essentra P.L.C.	1,088,745		5,306,994
	Evraz P.L.C.	1,339,771		9,282,884
	Ferrexpo P.L.C.	1,878,001		4,999,499
	Forterra P.L.C.	1,045,372		2,949,850
*	Gem Diamonds, Ltd.	679,902		904,312
	Highland Gold Mining, Ltd.	249,280		459,495
	Hill & Smith Holdings P.L.C.	477,216		6,033,835
	Hochschild Mining P.L.C.	968,805		1,950,226
	Ibstock P.L.C.	2,409,823		6,908,946

The United Kingdom Small Company Series
continued

		Shares	Value»
MATERIALS — (Continued)
	KAZ Minerals P.L.C.	1,231,175	$	8,129,082
*	Lonmin P.L.C.	1,584,135		982,654
	Low & Bonar P.L.C.	1,194,255		475,203
	Marshalls P.L.C.	1,246,986		6,862,695
# *	Petra Diamonds, Ltd.	5,332,777		2,671,896
*	Petropavlovsk P.L.C.	740,190		62,597
	Rhi Magnesita NV	10,384		503,314
	RPC Group P.L.C.	2,589,442		25,239,745
	Scapa Group P.L.C.	76,815		401,177
# *	Sirius Minerals P.L.C.	1,194,227		350,959
	Synthomer P.L.C.	1,805,664		10,242,323
	Victrex P.L.C.	634,126		21,450,080
	Zotefoams P.L.C.	93,537		646,162
TOTAL MATERIALS				135,967,267
REAL ESTATE — (2.7%)
	Capital & Counties Properties P.L.C.	4,642,681		14,813,146
#	CLS Holdings P.L.C.	495,994		1,375,804
*	Countrywide P.L.C.	1,699,141		227,353
	Daejan Holdings P.L.C.	44,979		3,372,546
#	Foxtons Group P.L.C.	1,145,927		682,598
	Grainger P.L.C.	2,915,516		10,072,548
	Harworth Group P.L.C.	30,680		45,663
	Helical P.L.C.	656,792		2,601,262
	LSL Property Services P.L.C.	404,839		1,293,269
*	Raven Property Group, Ltd.	1,031,431		594,544
	Savills P.L.C.	872,779		8,077,704
	St. Modwen Properties P.L.C.	2,832,022		13,519,067
	U & I Group P.L.C.	825,209		2,415,113
	Urban & Civic P.L.C.	219,328		827,857
	Watkin Jones P.L.C.	34,926		93,816
TOTAL REAL ESTATE				60,012,290
UTILITIES — (2.1%)
	Drax Group P.L.C.	2,899,857		14,853,691
	Pennon Group P.L.C.	2,715,100		25,865,566
	Severn Trent P.L.C.	54,797		1,302,216
	Telecom Plus P.L.C.	344,980		5,383,221
TOTAL UTILITIES				47,404,694
TOTAL COMMON STOCKS				2,178,207,299
PREFERRED STOCKS — (0.0%)
CONSUMER STAPLES — (0.0%)
	Mcbride P.L.C.	30,529,044		39,022
TOTAL INVESTMENT SECURITIES				2,178,246,321
SECURITIES LENDING COLLATERAL — (1.2%)
@ §	DFA Short Term Investment Fund	2,207,404		25,539,665
TOTAL INVESTMENTS — (100.0%)        (Cost $2,157,526,564)			$	2,203,785,986

The United Kingdom Small Company Series
continued

P.L.C.	Public Limited Company
SA	Special Assessment
»	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.

Summary of the Series’ investments as of October 31, 2018, 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
Communication Services	—	$	142,790,507	—	$	142,790,507
Consumer Discretionary	—		453,539,481	—		453,539,481
Consumer Staples	—		103,836,216	—		103,836,216
Energy	—		109,147,047	—		109,147,047
Financials	—		356,368,991	—		356,368,991
Healthcare	—		69,150,658	—		69,150,658
Industrials	—		575,938,095	—		575,938,095
Information Technology	—		124,052,053	—		124,052,053
Materials	—		135,967,267	—		135,967,267
Real Estate	—		60,012,290	—		60,012,290
Utilities	—		47,404,694	—		47,404,694
Preferred Stocks
Consumer Staples	—		39,022	—		39,022
Securities Lending Collateral	—		25,539,665	—		25,539,665
TOTAL	—	$	2,203,785,986	—	$	2,203,785,986

THE CONTINENTAL SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2018

		Shares	Value»
COMMON STOCKS — (89.5%)
AUSTRIA — (2.8%)
	Agrana Beteiligungs AG	74,268	$	1,479,612
	ANDRITZ AG	447,429		23,181,306
	Atrium European Real Estate, Ltd.	884,340		3,686,065
#	Austria Technologie & Systemtechnik AG	171,443		4,061,027
	CA Immobilien Anlagen AG	459,315		14,946,903
	DO & CO AG	45,778		4,150,702
	EVN AG	224,206		3,919,048
	FACC AG	182,913		3,217,484
	Flughafen Wien AG	25,564		993,585
#	IMMOFINANZ AG	591,726		14,086,457
	Josef Manner & Co. AG	870		61,382
	Kapsch TrafficCom AG	33,915		1,210,146
#	Lenzing AG	84,813		7,693,320
	Mayr Melnhof Karton AG	52,038		6,586,096
	Oberbank AG	43,377		4,372,687
	Oesterreichische Post AG	209,470		8,503,084
#	Palfinger AG	95,159		2,901,567
#	POLYTEC Holding AG	105,679		1,089,430
#	Porr AG	75,463		2,042,960
	Rosenbauer International AG	19,688		1,003,493
	S IMMO AG	352,379		6,024,690
	Schoeller-Bleckmann Oilfield Equipment AG	75,301		6,721,845
# *	Semperit AG Holding	68,546		1,132,165
	Strabag SE	106,385		3,740,598
	Telekom Austria AG	1,010,252		7,495,888
	UBM Development AG	15,638		669,753
	UNIQA Insurance Group AG	904,369		8,446,216
	Verbund AG	100,314		4,037,862
	Vienna Insurance Group AG Wiener Versicherung Gruppe	232,986		6,187,315
	Wienerberger AG	617,965		14,213,814
# *	Zumtobel Group AG	175,339		1,589,965
TOTAL AUSTRIA				169,446,465
BELGIUM — (3.6%)
	Ackermans & van Haaren NV	156,548		24,646,516
*	AGFA-Gevaert NV	1,218,771		5,441,400
# *	Argenx SE	93,033		7,382,276
	Atenor	14,566		825,580
	Banque Nationale de Belgique	87		254,262
	Barco NV	68,858		7,840,625
#	Bekaert SA	220,890		4,770,684
# *	Biocartis NV	189,137		2,563,552
	bpost SA	503,661		7,643,853
# *	Celyad SA	46,214		1,147,869
	Cie d’Entreprises CFE	48,913		5,186,334
	Cie Immobiliere de Belgique SA	16,878		981,419
	Co.Br.Ha Societe Commerciale de Brasserie SA	111		546,834
	Deceuninck NV	409,000		955,329
	D’ieteren SA	162,555		6,429,241
#	Econocom Group SA	755,740		2,365,493
	Elia System Operator SA	174,446		10,906,067
#	Euronav NV	1,268,588		11,812,708
	EVS Broadcast Equipment SA	19,390		431,025

The Continental Small Company Series
continued

		Shares	Value»
BELGIUM — (Continued)
# *	Exmar NV	133,424	$	899,391
	Fagron	262,019		4,261,723
*	Galapagos NV (B07MCX1)	93,123		9,566,655
*	Galapagos NV (B07Q2V5)	220,186		22,621,528
	Gimv NV	87,496		4,667,626
# *	Ion Beam Applications	130,894		2,301,403
	Jensen-Group NV	19,232		674,974
	Kinepolis Group NV	95,839		5,144,955
#	Lotus Bakeries	1,562		4,030,484
# *	MDxHealth	239,516		470,335
#	Melexis NV	115,669		7,607,436
# *	Nyrstar NV	84,985		153,500
#	Ontex Group NV	485,473		9,304,794
	Orange Belgium SA	98,577		1,770,277
*	Oxurion NV	62,799		337,000
#	Picanol	28,690		2,575,450
	Recticel SA	270,323		2,102,966
	Resilux	5,788		845,091
	Roularta Media Group NV	19,318		333,549
	Sioen Industries NV	50,085		1,215,331
	Sipef NV	35,631		2,078,278
*	Telenet Group Holding NV	9,326		451,830
	TER Beke SA	3,481		566,417
*	Tessenderlo Group SA	213,754		7,524,749
	Umicore SA	425,457		20,027,502
	Van de Velde NV	35,498		885,138
*	Viohalco SA	583,796		1,679,426
TOTAL BELGIUM				216,228,875
DENMARK — (5.4%)
# *	ALK-Abello A.S.	43,583		6,982,160
	Alm Brand A.S.	562,935		4,714,207
	Ambu A.S., Class B	1,079,783		22,493,703
	Arkil Holding A.S., Class B	92		14,349
*	Bang & Olufsen A.S.	256,627		5,331,112
	BankNordik P/F	10,800		184,398
# *	Bavarian Nordic A.S.	204,295		4,721,826
	Brodrene Hartmann A.S.	16,148		767,092
	Columbus A.S.	432,582		1,027,042
# *	D/S Norden A.S.	216,070		2,984,252
	DFDS A.S.	306,367		13,112,653
	Djurslands Bank A.S.	8,970		325,519
#	FLSmidth & Co. A.S.	290,273		15,230,776
	Fluegger Group A.S., Class B	4,198		191,153
	GN Store Nord A.S	935,887		39,699,067
	GronlandsBANKEN A.S.	1,125		100,323
# *	H+H International A.S., Class B	103,235		1,697,602
	Harboes Bryggeri A.S., Class B	17,239		204,986
#	IC Group A.S.	43,760		337,584
	ISS A.S.	582,591		19,132,966
#	Jeudan A.S.	7,259		1,030,318
	Jyske Bank A.S.	491,188		20,055,672
	Lan & Spar Bank	4,981		345,951
	Matas A.S.	57,417		554,548
*	Nilfisk Holding A.S.	202,411		7,945,087
# *	NKT A.S.	206,194		3,878,497

The Continental Small Company Series
continued

		Shares	Value»
DENMARK — (Continued)
#	NNIT A.S.	71,616	$	2,025,116
#	Pandora A.S.	149,348		9,333,672
	Parken Sport & Entertainment A.S.	34,515		400,360
	Per Aarsleff Holding A.S.	135,907		4,444,985
#	Ringkjoebing Landbobank A.S.	166,464		8,460,745
	Roblon A.S., Class B	973		38,537
	Rockwool International A.S., Class A	455		130,111
	Rockwool International A.S., Class B	49,342		16,858,101
	Royal Unibrew A.S.	364,385		25,857,570
#	RTX A.S	52,854		1,379,441
	Scandinavian Tobacco Group A.S., Class A	225,458		3,420,442
	Schouw & Co., A.S.	85,260		6,962,121
	SimCorp A.S.	284,735		21,923,197
	Solar A.S., Class B	37,386		2,002,766
	Spar Nord Bank A.S.	543,617		4,504,368
	Sydbank A.S.	505,787		11,682,304
#	Tivoli A.S.	9,878		956,355
# *	TK Development A.S.	307,965		272,678
	Topdanmark A.S.	491,266		23,351,623
*	TORM P.L.C.	72,081		423,756
	Tryg A.S.	9,779		235,732
	United International Enterprises	10,336		2,321,267
# *	Veloxis Pharmaceuticals A.S.	68,255		14,258
# *	Vestjysk Bank A.S.	1,501,522		461,598
# *	Zealand Pharma A.S.	179,773		2,288,639
TOTAL DENMARK				322,812,585
FINLAND — (6.2%)
# *	Afarak Group Oyj	316,672		314,790
#	Ahlstrom-Munksjo Oyj	143,612		2,238,682
#	Aktia Bank Oyj	292,637		2,850,100
	Alandsbanken Abp, Class B	21,354		329,012
	Alma Media Oyj	129,772		967,088
	Amer Sports Oyj	843,708		31,362,132
	Apetit Oyj	19,668		221,623
	Asiakastieto Group Oyj	319		10,493
	Aspo Oyj	92,762		964,833
	Atria Oyj	79,704		763,738
# *	BasWare Oyj	56,551		1,274,851
#	Bittium Oyj	204,447		1,354,782
	Cargotec Oyj, Class B	276,468		11,490,595
# *	Caverion Oyj	701,745		4,392,046
#	Citycon Oyj	2,641,442		5,133,631
	Cramo Oyj	260,177		4,959,617
	Digia Oyj	69,731		224,671
	Elisa Oyj	520,670		20,715,389
	Finnair Oyj	487,004		3,658,327
	Fiskars Oyj Abp	209,143		3,856,085
	F-Secure Oyj	631,341		1,646,635
	Glaston Oyj ABP	46,084		20,897
	HKScan Oyj, Class A	257,744		557,739
#	Huhtamaki Oyj	703,421		19,722,121
	Ilkka-Yhtyma Oyj	61,503		211,603
	Kemira Oyj	732,189		8,980,214
	Kesko Oyj, Class A	44,353		2,489,296
	Kesko Oyj, Class B	514,318		30,037,493

The Continental Small Company Series
continued

		Shares	Value»
FINLAND — (Continued)
#	Konecranes Oyj	440,428	$	15,772,141
	Lassila & Tikanoja Oyj	210,045		3,778,917
#	Lehto Group Oyj	129,587		674,755
	Metsa Board Oyj	1,479,556		12,939,494
	Metso Oyj	776,014		24,500,237
	Nokian Renkaat Oyj	840,330		26,729,512
	Olvi Oyj, Class A	92,286		3,087,917
#	Oriola Oyj	6,054		18,362
	Oriola Oyj, Class B	931,236		2,844,464
	Orion Oyj, Class A	131,307		4,543,314
	Orion Oyj, Class B	609,509		20,966,688
#	Outokumpu Oyj	2,921,503		12,246,047
*	Outotec Oyj	1,238,541		4,790,442
#	Pihlajalinna Oyj	77,064		784,621
	Ponsse Oyj	72,115		2,218,013
#	Poyry Oyj	196,085		1,665,715
*	QT Group Oyj	55,899		501,573
	Raisio Oyj, Class V	740,826		2,272,362
	Ramirent Oyj	565,593		4,129,184
	Rapala VMC Oyj	109,543		409,602
	Raute Oyj, Class A	2,644		74,889
	Revenio Group Oyj	117,238		1,699,821
	Sanoma Oyj	749,458		8,444,514
#	SRV Group Oyj	66,041		167,434
*	Stockmann Oyj Abp, Class A	49,045		166,484
# *	Stockmann Oyj Abp (5462393), Class B	189,838		647,957
	Teleste Oyj	52,966		377,844
	Tieto Oyj	372,623		11,994,411
#	Tikkurila Oyj	250,164		3,406,726
	Tokmanni Group Corp	257,563		2,089,161
	Uponor Oyj	354,033		3,834,242
	Vaisala Oyj, Class A	108,597		2,125,914
	Valmet Oyj	919,512		20,936,249
	Viking Line Abp	7,869		116,762
#	YIT Oyj	1,430,763		8,148,901
TOTAL FINLAND				369,853,152
FRANCE — (11.3%)
	ABC arbitrage	116,625		842,911
	Actia Group	51,304		245,576
*	Air France-KLM	1,383,572		13,376,629
	Akka Technologies	60,065		3,956,719
	AKWEL	56,783		1,130,828
	Albioma SA	165,658		3,218,822
	Altamir	136,094		2,381,605
	Alten SA	155,918		15,025,870
#	Altran Technologies SA	1,370,722		13,586,061
*	Amplitude Surgical SAS	19,526		71,135
#	Antalis International SAS	58,230		74,236
	APRIL SA	75,049		1,357,137
# *	Archos	122,992		62,996
	Assystem	62,252		1,808,922
	Aubay	31,711		1,128,440
	Axway Software SA	38,973		617,058
#	Bastide le Confort Medical	17,494		694,270
	Beneteau SA	223,296		3,701,996

The Continental Small Company Series
continued

		Shares	Value»
FRANCE — (Continued)
	Bigben Interactive	74,415	$	654,524
	Boiron SA	38,331		2,295,019
	Bonduelle SCA	84,152		2,985,008
# *	Bourbon Corp.	163,857		958,121
	Burelle SA	931		990,247
#	Casino Guichard Perrachon SA	271,603		11,978,434
	Catering International Services	14,124		197,429
*	Cegedim SA	25,406		635,232
*	CGG SA	4,063,912		9,830,682
	Chargeurs SA	115,644		2,497,960
	Cie des Alpes	57,284		1,747,868
	Cie Plastic Omnium SA	327,341		9,100,802
*	Coface SA	529,375		5,290,115
	Derichebourg SA	584,687		2,812,808
	Devoteam SA	30,634		3,370,274
	Dom Security	1,497		86,707
	Edenred	734,903		27,877,180
	Electricite de Strasbourg SA	21,353		2,477,932
#	Elior Group SA	594,569		8,552,463
	Elis SA	809,184		16,316,528
	Eramet	65,268		6,008,343
# *	Erytech Pharma SA	681		5,041
	Esso SA Francaise	16,100		634,694
*	Etablissements Maurel et Prom	159,620		738,400
	Euronext NV	334,230		20,565,988
#	Europcar Mobility Group	568,694		5,381,293
	Eutelsat Communications SA	1,153,248		23,358,563
	Exel Industries, Class A	10,419		797,819
	Fleury Michon SA	6,124		316,508
*	Fnac Darty SA (V7VQL46)	119,523		8,497,345
	Gaumont SA	11,360		1,601,743
	Gaztransport Et Technigaz SA	118,320		8,745,031
	GEA	2,433		258,996
	Getlink	1,262,810		15,884,008
	Gevelot SA	3,466		732,924
#	GL Events	63,507		1,357,711
	Groupe Crit	23,123		1,545,772
	Groupe Gorge	22,858		257,654
	Groupe Open	29,172		711,039
#	Guerbet	34,086		2,162,183
	Haulotte Group SA	74,466		842,787
	HERIGE SADCS	4,147		113,681
# *	HiPay Group SA	24,579		302,482
*	ID Logistics Group	11,344		1,914,180
	Imerys SA	177,200		10,923,154
	Ingenico Group SA	412,072		29,164,382
	Interparfums SA	31,455		1,300,615
	Ipsen SA	47,538		6,591,305
	IPSOS	208,380		5,548,850
	Jacquet Metal Service SA	75,602		1,565,854
	Kaufman & Broad SA	108,602		4,454,114
#	Korian SA	327,739		12,912,909
	Lagardere SCA	778,374		21,276,640
	Lanson-BCC	8,795		302,917
	Laurent-Perrier	13,068		1,339,844
	Le Belier	10,566		406,898
	Lectra	143,598		3,040,674

The Continental Small Company Series
continued

		Shares	Value»
FRANCE — (Continued)
#	Linedata Services	14,505	$	497,259
	LISI	104,857		3,054,070
	LNA Sante SA	30,551		1,615,667
	Maisons du Monde SA	202,470		5,075,681
#	Maisons France Confort SA	15,908		591,382
	Manitou BF SA	56,974		1,604,424
	Manutan International	14,949		1,000,015
	Mersen SA	117,956		3,891,464
# *	METabolic EXplorer SA	156,395		320,101
	Metropole Television SA	290,250		5,618,024
	Mr Bricolage SA	30,731		353,116
	Neopost SA	225,529		7,248,413
#	Nexans SA	214,579		6,192,380
	Nexity SA	268,736		12,851,192
# *	Nicox	145,865		858,493
	NRJ Group	81,965		723,381
#	Oeneo SA	160,584		1,624,803
# *	OL Groupe SA	10,735		33,393
# *	Onxeo SA	246,319		269,493
# *	Onxeo SA	48,958		54,492
	Orpea	29,686		3,654,727
# *	Parrot SA	112,753		519,246
# *	Pierre & Vacances SA	29,600		655,435
#	Plastivaloire	52,074		650,669
	PSB Industries SA	8,805		457,698
#	Rallye SA	156,235		1,734,191
# *	Recylex SA	102,008		716,596
	Rexel SA	2,158,941		27,520,701
	Robertet SA	4,128		2,449,539
	Rothschild & Co.	72,007		2,869,236
	Rubis SCA	600,204		30,966,985
	Samse SA	8,068		1,123,533
	Sartorius Stedim Biotech	100,048		12,397,028
	Savencia SA	33,010		2,422,711
	Seche Environnement SA	13,339		393,741
	Societe BIC SA	161,260		15,437,920
*	Societe des Bains de Mer et du Cercle des Etrangers a Monaco	60,012		3,393,220
	Societe Marseillaise du Tunnel Prado-Carenage SA	5,211		102,705
	Societe pour l’Informatique Industrielle	41,060		1,028,410
# *	SOITEC	125,494		8,942,040
# *	Solocal Group	3,930,265		3,186,756
#	Somfy SA	104,097		8,048,686
	Sopra Steria Group	101,694		11,263,388
#	SPIE SA	724,198		11,338,481
# *	SRP Groupe SA	37,923		180,216
*	Stallergenes Greer P.L.C.	17,371		532,604
# *	Ste Industrielle d’Aviation Latecoere SA	392,026		1,511,392
	Stef SA	28,044		2,569,691
	Sword Group	34,984		1,337,399
	Synergie SA	69,728		2,127,572
#	Tarkett SA	164,392		3,611,508
# *	Technicolor SA	1,531,532		1,952,475
	Teleperformance	144,931		23,868,988
	Television Francaise 1	615,411		6,259,438
# *	Tessi SA	6,874		1,017,931
	TFF Group	17,239		768,149

The Continental Small Company Series
continued

		Shares	Value»
FRANCE — (Continued)
#	Thermador Groupe	35,570	$	1,911,511
	Total Gabon	3,035		482,069
# *	Touax SA	9,530		64,422
	Trigano SA	54,707		5,554,242
*	Ubisoft Entertainment SA	141,155		12,661,962
	Union Financiere de France BQE SA	17,080		520,189
# *	Vallourec SA	2,261,226		10,689,157
*	Valneva SE	177,603		675,445
	Vetoquinol SA	19,343		1,083,356
	Vicat SA	104,300		5,605,142
	VIEL & Cie SA	162,802		865,739
	Vilmorin & Cie SA	29,068		1,731,199
*	Virbac SA	21,524		3,453,765
	Vranken-Pommery Monopole SA	18,262		496,229
*	Worldline SA	17,876		940,478
	XPO Logistics Europe SADIR	33		12,096
TOTAL FRANCE				672,734,134
GERMANY — (14.4%)
	7C Solarparken AG	12,773		37,601
*	A.S. Creation Tapeten	4,430		64,231
	Aareal Bank AG	449,919		16,737,558
	Adler Modemaerkte AG	47,849		182,417
#	ADLER Real Estate AG	203,696		3,293,374
#	ADO Properties SA	174,985		10,320,884
# *	ADVA Optical Networking SE	327,245		2,673,325
# *	AIXTRON SE	549,541		6,886,430
	All for One Steeb AG	4,222		251,387
	Allgeier SE	39,943		1,452,152
	Amadeus Fire AG	34,590		3,957,115
	Atoss Software AG	1,138		97,666
	Aurubis AG	273,125		16,578,550
	Axel Springer SE	43,277		2,873,895
#	Basler AG	9,252		1,636,842
#	Bauer AG	70,305		1,173,110
	BayWa AG	89,653		2,610,809
	BayWa AG	124		4,098
	Bechtle AG	211,097		18,746,981
	Bertrandt AG	36,308		3,004,669
#	bet-at-home.com AG	12,310		715,108
	Bijou Brigitte AG	22,217		924,151
#	Bilfinger SE	230,912		10,058,812
	Borussia Dortmund GmbH & Co. KGaA	486,763		5,270,124
#	CANCOM SE	228,662		9,323,398
	Carl Zeiss Meditec AG	169,872		13,914,818
#	CECONOMY AG	935,953		4,782,424
	CENIT AG	53,174		913,921
	CENTROTEC Sustainable AG	33,321		470,441
	Cewe Stiftung & Co. KGAA	38,067		2,982,266
	comdirect bank AG	198,700		2,352,711
	CompuGroup Medical SE	147,554		8,334,595
	Corestate Capital Holding SA	18,312		790,344
	CropEnergies AG	126,491		563,833
	CTS Eventim AG & Co. KGaA	367,892		13,792,268
	Data Modul AG	11,455		824,753
*	DEAG Deutsche Entertainment AG	44,855		157,065

The Continental Small Company Series
continued

		Shares	Value»
GERMANY — (Continued)
	Delticom AG	28,981	$	273,974
	Deutsche Beteiligungs AG	86,903		3,554,047
#	Deutsche EuroShop AG	357,086		11,080,709
	Deutsche Pfandbriefbank AG	852,463		11,319,416
	Deutz AG	865,981		6,440,940
*	Dialog Semiconductor P.L.C.	451,612		11,909,549
	DIC Asset AG	353,555		3,812,691
	Diebold Nixdorf AG	27,137		1,757,209
	DMG Mori AG	15,692		758,899
	Dr Hoenle AG	34,598		2,700,318
	Draegerwerk AG & Co. KGaA	16,799		819,026
#	Duerr AG	352,667		12,567,057
	Eckert & Ziegler AG	20,308		1,123,375
	EDAG Engineering Group AG	48,866		968,272
	Elmos Semiconductor AG	78,418		1,630,759
#	ElringKlinger AG	204,148		1,729,461
	Energiekontor AG	2,066		33,066
*	Euromicron AG	45,575		289,918
#	Ferratum Oyj	64,645		812,822
	Fielmann AG	166,513		10,328,720
	First Sensor AG	42,732		812,618
	FORTEC Elektronik AG	372		8,009
	Francotyp-Postalia Holding AG, Class A	55,619		235,749
	Freenet AG	921,900		20,736,172
	FRIWO AG	513		11,971
	Fuchs Petrolub SE	87,580		3,792,042
	GEA Group AG	155,221		4,716,544
	Gerresheimer AG	225,329		15,880,200
# *	Gerry Weber International AG	132,096		433,989
	Gesco AG	56,186		1,755,455
#	GFT Technologies SE	121,382		1,393,202
	Grand City Properties SA	429,757		10,389,716
#	GRENKE AG	81,982		7,862,347
	H&R GmbH & Co. KGaA	64,746		492,538
	Hamburger Hafen und Logistik AG	151,382		3,206,739
	Hapag-Lloyd AG	41,306		1,527,320
	Hawesko Holding AG	52		2,594
# *	Heidelberger Druckmaschinen AG	1,911,209		4,427,493
	Hella GmbH & Co KGaA	213,268		9,975,893
	Highlight Communications AG	98,406		575,471
*	HolidayCheck Group AG	175,906		595,347
	Hornbach Baumarkt AG	28,254		751,446
	Hornbach Holding AG & Co. KGaA	17,751		1,173,114
	Hugo Boss AG	456,778		32,642,934
	Indus Holding AG	131,189		7,162,811
	Isra Vision AG	111,249		4,772,080
	IVU Traffic Technologies AG	44,080		249,186
	Jenoptik AG	340,829		10,316,544
#	K+S AG	1,437,309		26,765,532
	Kloeckner & Co. SE	575,851		4,842,585
#	Koenig & Bauer AG	93,399		4,562,359
#	Krones AG	99,960		8,936,720
	KSB SE & Co. KGaA	3,466		1,192,961
	KWS Saat SE	15,926		5,410,462
	Lanxess AG	427,092		26,436,018
	LEG Immobilien AG	324,194		35,437,322
	Leifheit AG	51,737		924,892

The Continental Small Company Series
continued

		Shares	Value»
GERMANY — (Continued)
#	Leoni AG	217,226	$	7,929,730
*	LPKF Laser & Electronics AG	73,571		533,373
# *	Manz AG	30,876		976,457
	MasterFlex SE	21,291		191,118
	Mediclin AG	88,966		579,947
# *	Medigene AG	88,510		1,066,514
#	METRO AG	525,885		7,911,043
	MLP SE	380,431		2,194,502
	Nemetschek SE	144,235		18,960,783
#	Nexus AG	77,776		2,123,360
*	Nordex SE	399,366		3,710,265
	Norma Group SE	225,086		12,152,812
#	OHB SE	36,824		1,306,964
	OSRAM Licht AG	277,617		11,248,108
#	Paragon GmbH & Co. KGaA	14,660		426,643
	Patrizia Immobilien AG	333,436		5,731,894
*	Petro Welt Technologies AG	12,774		71,179
#	Pfeiffer Vacuum Technology AG	52,474		6,524,747
	PNE AG	482,262		1,319,924
	Progress-Werk Oberkirch AG	8,558		284,722
	ProSiebenSat.1 Media SE	589,920		13,622,127
	PSI Software AG	43,870		784,217
#	Puma SE	2,634		1,354,453
*	PVA TePla AG	83		1,067
#	QSC AG	643,630		1,133,663
*	R Stahl AG	14,952		386,556
	Rational AG	12,394		7,175,948
	Rheinmetall AG	298,579		25,840,127
	RHOEN-KLINIKUM AG	233,180		5,893,817
#	RIB Software SE	258,849		4,467,334
*	Rocket Internet SE	490,766		14,170,060
	S&T AG	241,440		6,000,408
#	SAF-Holland SA	359,253		5,235,892
	Salzgitter AG	276,307		11,043,421
# *	Schaltbau Holding AG	32,728		849,867
	Schloss Wachenheim AG	8,017		168,391
	Scout24 AG	208,769		8,652,098
	Secunet Security Networks AG	5,708		599,828
*	Senvion SA	31,747		181,007
# *	SGL Carbon SE	214,662		2,150,456
*	Shop Apotheke Europe NV	18,754		953,742
#	SHW AG	25,624		642,634
	Siltronic AG	153,046		14,016,682
#	Sixt Leasing SE	60,063		869,067
	Sixt SE	90,959		9,246,450
	SMA Solar Technology AG	85,104		1,985,912
*	SMT Scharf AG	22,763		337,772
	Softing AG	26,963		245,127
	Software AG	338,852		15,170,288
	Stabilus SA	152,530		10,221,692
#	STRATEC Biomedical AG	19,861		1,303,845
	Stroeer SE & Co. KGaA	180,625		9,441,432
#	Suedzucker AG	483,148		7,482,023
# *	SUESS MicroTec SE	137,494		1,751,880
	Surteco Group SE	45,548		1,012,634
	Syzygy AG	2,030		20,017
	TAG Immobilien AG	934,395		21,315,539

The Continental Small Company Series
continued

		Shares	Value»
GERMANY — (Continued)
	Takkt AG	194,595	$	3,305,596
#	Technotrans SE	44,267		1,578,216
*	Tele Columbus AG	296,432		1,043,182
	TLG Immobilien AG	583,835		14,823,221
# *	Tom Tailor Holding SE	214,000		816,930
	Traffic Systems SE	35,766		661,360
	Uniper SE	124,414		3,590,385
#	VERBIO Vereinigte BioEnergie AG	135,124		794,997
	Vossloh AG	68,437		3,166,204
	VTG AG	90,523		5,416,932
	Wacker Chemie AG	47,794		4,269,169
	Wacker Neuson SE	200,964		4,462,882
	Washtec AG	66,493		5,124,047
	Wuestenrot & Wuerttembergische AG	108,965		2,204,909
#	XING SE	18,521		5,568,703
	Zeal Network SE	46,356		1,125,552
TOTAL GERMANY				861,996,572
IRELAND — (1.0%)
	C&C Group P.L.C.	1,085,694		4,035,280
	C&C Group P.L.C.	399,607		1,497,187
*	Cairn Homes P.L.C.	282,593		452,625
	Datalex P.L.C.	107,125		263,593
	FBD Holdings P.L.C.	125,459		1,477,107
	FBD Holdings P.L.C.	857		10,403
	Glanbia P.L.C.	214,971		3,800,768
	Glanbia P.L.C.	700,613		12,429,963
	IFG Group P.L.C.	302,015		562,676
*	Independent News & Media P.L.C.	1,939,277		161,640
	Irish Continental Group P.L.C.	494,548		2,913,834
	Irish Continental Group P.L.C.	234,200		1,367,830
	Kingspan Group P.L.C.	438,083		19,033,686
*	Permanent TSB Group Holdings P.L.C.	127,648		274,189
	Smurfit Kappa Group P.L.C.	385,294		12,526,142
TOTAL IRELAND				60,806,923
ISRAEL — (2.6%)
	Adgar Investment and Development, Ltd.	6,982		11,167
*	ADO Group, Ltd.	91,502		2,005,719
	Afcon Holdings, Ltd.	764		34,921
# *	Africa Israel Properties, Ltd.	88,767		2,302,430
	Africa Israel Residences, Ltd.	2,237		36,710
*	Airport City, Ltd.	437,203		5,090,832
	Albaad Massuot Yitzhak, Ltd.	2,660		27,858
*	Allot Communications, Ltd.	166,831		1,074,337
	Alony Hetz Properties & Investments, Ltd.	526,174		5,005,023
	Alrov Properties and Lodgings, Ltd.	48,833		1,496,159
	Amot Investments, Ltd.	692,577		3,440,276
	Arad, Ltd.	15,796		186,233
*	Arko Holdings, Ltd.	1,440,389		741,929
	Ashtrom Group, Ltd.	56,634		239,628
#	Ashtrom Properties, Ltd.	193,644		806,875
	AudioCodes, Ltd.	169,415		2,091,684
	Avgol Industries 1953, Ltd.	468,925		484,785
*	Azorim-Investment Development & Construction Co., Ltd.	434,861		386,539

The Continental Small Company Series
continued

		Shares	Value»
ISRAEL — (Continued)
	Bayside Land Corp.	5,400	$	2,319,773
	Bet Shemesh Engines Holdings 1997, Ltd.	3,766		88,462
	Big Shopping Centers, Ltd.	29,999		1,955,929
# *	BioLine RX, Ltd.	96,617		67,599
#	Blue Square Real Estate, Ltd.	35,427		1,254,294
*	Bonus Biogroup, Ltd.	613,036		89,062
# *	Brack Capital Properties NV	17,170		1,826,972
*	Brainsway, Ltd.	19,857		121,217
	Camtek, Ltd.	83,671		682,120
#	Carasso Motors, Ltd.	94,524		484,627
	Castro Model, Ltd.	145		3,619
# *	Cellcom Israel, Ltd.	312,554		1,969,808
*	Ceragon Networks, Ltd.	266,244		886,593
*	Clal Biotechnology Industries, Ltd.	182,384		161,092
*	Clal Insurance Enterprises Holdings, Ltd.	150,209		2,490,542
	Cohen Development & Industrial Buildings, Ltd.	3,184		78,740
# *	Compugen, Ltd.	188,351		552,034
	Danel Adir Yeoshua, Ltd.	17,514		836,207
	Delek Automotive Systems, Ltd.	204,232		1,152,448
	Delek Group, Ltd.	10,965		1,838,505
#	Delta-Galil Industries, Ltd.	72,570		2,039,478
	Dexia Israel Bank, Ltd.	1,031		191,812
	Direct Insurance Financial Investments, Ltd.	111,017		1,252,964
	Dor Alon Energy in Israel 1988, Ltd.	9,069		126,005
# *	El Al Israel Airlines	803,092		229,922
#	Electra Consumer Products 1970, Ltd.	29,796		322,113
	Electra, Ltd.	11,376		2,750,082
*	Elron Electronic Industries, Ltd.	92,425		301,063
*	Energix-Renewable Energies, Ltd.	757,422		855,935
# *	Enlight Renewable Energy, Ltd.	2,163,770		1,069,740
*	Equital, Ltd.	2,248		56,123
# *	Evogene, Ltd.	79,189		209,274
	First International Bank Of Israel, Ltd.	82,661		1,780,065
	FMS Enterprises Migun, Ltd.	18,743		474,193
# *	Foresight Autonomous Holdings, Ltd.	172,589		70,568
#	Formula Systems 1985, Ltd.	56,663		2,200,151
	Fox Wizel, Ltd.	48,897		927,350
*	Gilat Satellite Networks, Ltd.	218,298		2,071,172
	Hadera Paper, Ltd.	19,289		1,410,909
	Hamlet Israel-Canada, Ltd.	32,241		809,277
	Harel Insurance Investments & Financial Services, Ltd.	715,680		5,234,687
	Hilan, Ltd.	78,443		1,843,324
	IDI Insurance Co., Ltd.	39,854		2,240,092
# *	Industrial Buildings Corp., Ltd.	833,882		1,153,228
#	Inrom Construction Industries, Ltd.	309,702		1,083,486
	Intec Pharma, Ltd.	24,773		147,152
	Israel Discount Bank, Ltd., Class A	1,210,316		3,955,264
# *	Israel Land Development Co., Ltd. (The)	29,765		235,781
	Isras Investment Co., Ltd.	4,675		527,397
#	Issta Lines, Ltd.	11,573		182,399
*	Jerusalem Oil Exploration	55,094		3,163,170
*	Kamada, Ltd.	177,993		955,032
	Kenon Holdings, Ltd.	79,136		1,262,661
	Kerur Holdings, Ltd.	28,592		733,427
	Klil Industries, Ltd.	5,219		444,461
	Maabarot Products, Ltd.	22,937		239,304
	Magic Software Enterprises, Ltd.	118,171		982,128

The Continental Small Company Series
continued

		Shares	Value»
ISRAEL — (Continued)
	Matrix IT, Ltd.	221,492	$	2,578,977
	Maytronics, Ltd.	231,300		1,429,881
# *	Mazor Robotics, Ltd.	230,878		6,717,863
#	Mediterranean Towers, Ltd.	291,699		508,573
	Mega Or Holdings, Ltd.	70,295		776,677
	Meitav Dash Investments, Ltd.	91,774		274,615
#	Melisron, Ltd.	80,406		3,409,161
	Menora Mivtachim Holdings, Ltd.	161,602		1,798,935
	Migdal Insurance & Financial Holding, Ltd.	2,192,100		2,422,031
	Minrav Holdings, Ltd.	263		27,142
#	Mivtach Shamir Holdings, Ltd.	23,078		420,735
	Naphtha Israel Petroleum Corp., Ltd.	214,252		1,343,946
#	Nawi Brothers, Ltd.	98,368		547,229
	Neto ME Holdings, Ltd.	8,982		740,318
*	Nova Measuring Instruments, Ltd.	167,287		3,690,943
*	NR Spuntech Industries, Ltd.	76,176		222,222
	Oil Refineries, Ltd.	9,189,374		4,368,278
	One Software Technologies, Ltd.	552		21,101
# *	Partner Communications Co., Ltd.	680,634		3,440,279
	Paz Oil Co., Ltd.	48,898		7,321,724
*	Perion Network, Ltd.	5,485		17,185
	Phoenix Holdings, Ltd. (The)	459,596		2,542,721
	Plasson Industries, Ltd.	20,285		957,266
	Rami Levy Chain Stores Hashikma Marketing 2006, Ltd.	43,717		2,227,869
# *	Redhill Biopharma, Ltd.	366,770		285,786
	Scope Metals Group, Ltd.	40,603		1,092,957
#	Shapir Engineering and Industry, Ltd.	449,999		1,642,686
# *	Shikun & Binui, Ltd.	1,234,883		2,352,419
#	Shufersal, Ltd.	731,044		4,640,762
*	SodaStream International, Ltd.	10,117		1,448,935
	Strauss Group, Ltd.	72,285		1,584,953
	Summit Real Estate Holdings, Ltd.	178,144		1,603,873
# *	Suny Cellular Communication, Ltd.	473,129		241,995
#	Tadiran Holdings, Ltd.	14,981		374,577
*	Tower Semiconductor, Ltd.	315,502		4,889,624
# *	Union Bank of Israel	199,952		898,292
#	YH Dimri Construction & Development, Ltd.	1,529		24,113
TOTAL ISRAEL				156,740,580
ITALY — (8.9%)
# *	A.S. Roma SpA	856,401		477,678
	A2A SpA	11,245,170		18,119,959
	ACEA SpA	354,513		4,653,927
*	Aeffe SpA	236,060		603,274
	Aeroporto Guglielmo Marconi Di Bologna SpA	5,184		74,249
	Amplifon SpA	603,829		10,696,407
	Anima Holding SpA	1,643,167		6,871,045
*	Ansaldo STS SpA	357,955		5,145,801
	Aquafil SpA	29,879		346,825
*	Arnoldo Mondadori Editore SpA	896,526		1,546,977
	Ascopiave SpA	484,233		1,587,884
# *	Astaldi SpA	319,223		202,053
	Autogrill SpA	830,132		8,161,487
	Autostrade Meridionali SpA	3,917		107,238
#	Avio SpA	55,051		716,003

The Continental Small Company Series
continued

		Shares	Value»
ITALY — (Continued)
#	Azimut Holding SpA	819,857	$	10,094,571
#	B&C Speakers SpA	18,289		233,878
# *	Banca Carige SpA	148,414,098		822,688
	Banca Farmafactoring SpA	283,500		1,458,293
	Banca Finnat Euramerica SpA	616,149		216,080
	Banca Generali SpA	392,887		7,564,815
#	Banca IFIS SpA	143,766		2,525,905
	Banca Mediolanum SpA	1,596,860		9,252,207
# *	Banca Monte dei Paschi di Siena SpA	213,039		349,757
	Banca Popolare di Sondrio SCPA	3,123,738		9,847,499
#	Banca Profilo SpA	1,814,636		334,631
#	Banca Sistema SpA	331,868		631,050
# *	Banco BPM SpA	9,509,050		17,826,255
#	Banco di Desio e della Brianza SpA	238,796		489,193
	BasicNet SpA	159,481		851,020
#	BE	564,587		533,611
	Biesse SpA	88,272		2,028,997
#	BPER Banca	3,576,937		13,574,474
	Brembo SpA	1,025,965		11,358,351
	Brunello Cucinelli SpA	222,011		7,599,365
#	Buzzi Unicem SpA	541,578		10,399,492
	Cairo Communication SpA	491,931		1,555,004
*	Caltagirone Editore SpA	6,277		8,887
#	Carraro SpA	162,374		360,263
	Cembre SpA	24,165		550,670
	Cementir Holding SpA	334,012		2,051,709
	Cerved Group SpA	1,282,705		10,229,343
	CIR-Compagnie Industriali Riunite SpA	2,406,730		2,557,954
	Credito Emiliano SpA	539,951		3,220,081
*	Credito Valtellinese SpA	46,943,662		4,903,779
# *	d’Amico International Shipping SA	1,350,290		134,501
	Danieli & C Officine Meccaniche SpA	89,559		1,673,789
	Datalogic SpA	124,196		3,647,297
	De’ Longhi SpA	371,086		9,820,507
	DeA Capital SpA	727,037		1,058,005
	DiaSorin SpA	148,350		14,071,453
	Digital Bros SpA	17,463		179,464
	El.En. SpA	2,365		46,254
*	Elica SpA	76,131		163,384
	Emak SpA	335,269		464,157
	Enav SpA	1,583,529		7,137,590
# *	ePrice SpA	99,656		165,841
	ERG SpA	413,405		7,711,696
#	Esprinet SpA	208,274		914,785
*	Eurotech SpA	252,395		1,076,374
*	Exprivia SpA	109,673		120,223
	Falck Renewables SpA	899,544		1,817,288
*	Fiera Milano SpA	87,551		378,199
#	Fila SpA	112,641		2,004,660
*	Fincantieri SpA	3,767,009		5,488,099
	FinecoBank Banca Fineco SpA	503,155		5,258,786
	FNM SpA	1,049,730		598,376
# *	GEDI Gruppo Editoriale SpA	927,122		374,779
#	Gefran SpA	37,987		274,529
#	Geox SpA	604,392		1,092,304
#	Gruppo MutuiOnline SpA	145,928		2,600,351
	Hera SpA	5,616,955		15,502,092

The Continental Small Company Series
continued

		Shares	Value»
ITALY — (Continued)
# *	IMMSI SpA	1,274,433	$	607,050
	Industria Macchine Automatiche SpA	112,990		6,775,677
	Infrastrutture Wireless Italiane SpA	607,924		4,227,503
# *	Intek Group SpA	1,988,417		719,950
	Interpump Group SpA	487,515		14,064,838
	Iren SpA	4,364,107		9,443,887
	Italgas SpA	3,384,546		17,462,733
	Italmobiliare SpA	45,163		996,448
	IVS Group SA	56,191		676,708
# *	Juventus Football Club SpA	3,178,690		3,365,454
	La Doria SpA	73,967		804,445
	Leonardo SpA	786,405		8,525,178
	Maire Tecnimont SpA	976,043		4,266,619
	MARR SpA	214,286		5,185,256
	Massimo Zanetti Beverage Group SpA	65,668		449,358
# *	Mediaset SpA	4,201,139		12,641,580
	Moncler SpA	15,293		531,092
# *	Mondo TV SpA	89,356		340,460
	Nice SpA	161,881		506,817
# *	Openjobmetis SpA agenzia per il lavoro	61,558		563,380
# *	OVS SpA	977,759		1,726,566
#	Panariagroup Industrie Ceramiche SpA	73,107		190,218
	Parmalat SpA	756,306		2,328,561
	Piaggio & C SpA	1,160,095		2,482,342
#	Prima Industrie SpA	32,468		800,387
	Prysmian SpA	909,835		17,675,089
	RAI Way SpA	468,523		2,424,851
	Reno de Medici SpA	1,258,378		1,233,330
	Reply SpA	127,636		7,072,775
#	Retelit SpA	812,002		1,301,131
# *	Rizzoli Corriere Della Sera Mediagroup SpA	747,835		760,033
	Sabaf SpA	46,764		692,161
	SAES Getters SpA	47,938		960,739
# *	Safilo Group SpA	233,748		436,275
*	Saipem SpA	4,217,382		23,063,725
#	Salini Impregilo SpA	1,282,257		2,826,487
	Salvatore Ferragamo SpA	323,065		7,642,046
	Saras SpA	3,787,516		7,395,267
	Servizi Italia SpA	62,874		242,091
	Sesa SpA	46,552		1,261,861
	Societa Cattolica di Assicurazioni SC	1,153,283		9,317,095
	Societa Iniziative Autostradali e Servizi SpA	518,087		7,299,240
# *	Sogefi SpA	323,297		575,107
#	SOL SpA	169,140		2,036,054
	Tamburi Investment Partners SpA	709,442		4,622,443
	Technogym SpA	653,410		7,135,445
	Tecnoinvestimenti SpA	63,944		458,728
# *	Tiscali SpA	9,160,788		100,699
#	Tod’s SpA	73,658		4,503,327
# *	TREVI - Finanziaria Industriale SpA	509,518		155,454
	TXT e-solutions SpA	26,857		248,200
#	Unieuro SpA	45,290		548,509
#	Unione di Banche Italiane SpA	7,724,232		23,575,581
	Unipol Gruppo SpA	2,932,632		11,802,355
#	UnipolSai Assicurazioni SpA	4,384,980		9,573,504

The Continental Small Company Series
continued

		Shares	Value»
ITALY — (Continued)
	Zignago Vetro SpA	168,455	$	1,567,203
TOTAL ITALY				534,704,724
NETHERLANDS — (6.0%)
	Aalberts Industries NV	704,568		25,828,121
#	Accell Group NV	154,132		2,678,239
	AFC Ajax NV	13,955		208,594
# *	Altice Europe NV	2,479,499		5,898,828
*	Altice Europe NV, Class B	99,352		237,077
#	AMG Advanced Metallurgical Group NV	206,324		9,816,640
#	Amsterdam Commodities NV	113,039		2,366,787
	APERAM SA	390,560		13,336,778
#	Arcadis NV	495,339		6,677,740
	ASM International NV	346,018		14,854,028
	ASR Nederland NV	82,142		3,729,018
*	Basic-Fit NV	112,451		3,237,656
#	BE Semiconductor Industries NV	538,009		11,501,529
#	Beter Bed Holding NV	22,883		124,925
	BinckBank NV	388,322		1,880,245
#	Boskalis Westminster	654,419		18,816,387
#	Brunel International NV	150,988		1,867,403
	Corbion NV	405,868		12,323,951
	Flow Traders	202,622		6,462,210
	ForFarmers NV	186,963		2,105,586
# *	Fugro NV	597,586		7,677,824
*	Gemalto NV	306,999		17,509,677
*	Gemalto NV	231,595		13,210,242
	GrandVision NV	285,988		7,211,925
*	Heijmans NV	161,687		1,741,545
	Hunter Douglas NV	23,885		1,592,151
	IMCD NV	298,658		20,252,701
#	Intertrust NV	401,930		6,483,813
	KAS Bank NV	99,500		720,571
#	Kendrion NV	103,753		3,137,800
#	Koninklijke BAM Groep NV	1,828,327		6,281,032
	Koninklijke Vopak NV	443,568		20,059,502
*	Lucas Bols NV	20,321		363,378
	Nederland Apparatenfabriek	33,455		1,619,161
*	OCI NV	521,247		14,810,122
	Ordina NV	673,792		1,278,585
#	PostNL NV	3,165,581		9,352,455
	SBM Offshore NV	1,292,245		22,265,899
#	SIF Holding NV	35,317		591,347
	Signify NV	683,594		16,840,008
#	Sligro Food Group NV	164,297		7,282,237
*	Takeaway.com NV	102,690		6,038,963
	TKH Group NV	265,655		13,418,693
*	TomTom NV	971,261		8,111,630
	Van Lanschot Kempen NV	71,602		1,753,724
#	Wessanen	484,021		5,068,184
TOTAL NETHERLANDS				358,624,911
NORWAY — (2.4%)
	ABG Sundal Collier Holding ASA	2,159,070		1,293,047
	AF Gruppen ASA	49,296		745,317
*	Akastor ASA	1,077,318		2,100,058

The Continental Small Company Series
continued

		Shares	Value»
NORWAY — (Continued)
*	Aker Solutions ASA	1,083,854	$	7,131,592
	American Shipping Co. ASA	195,707		813,171
*	Archer, Ltd.	690,401		570,841
	Arendals Fossekompani A.S.	90		32,865
#	Atea ASA	446,437		5,884,384
	Austevoll Seafood ASA	401,957		6,459,880
# *	Avance Gas Holding, Ltd.	375,664		939,255
# *	Axactor SE	778,404		2,037,430
#	B2Holding ASA	649,274		1,093,535
	Bakkafrost P/F	15,893		892,867
	Bonheur ASA	140,320		1,659,547
	Borregaard ASA	646,687		5,824,021
# *	BW LPG, Ltd.	667,605		3,149,888
*	BW Offshore, Ltd.	837,993		5,363,727
	Data Respons ASA	14,736		44,283
	DNO ASA	4,418,295		8,445,802
# *	DOF ASA	735,979		542,661
	Entra ASA	59,049		799,012
#	Europris ASA	1,024,143		2,725,401
*	FLEX LNG, Ltd.	997,557		1,750,203
# *	Frontline, Ltd.	405,079		2,932,346
# *	Funcom NV	502,785		1,067,504
	Grieg Seafood ASA	327,246		4,770,895
#	Hexagon Composites ASA	507,665		1,513,992
#	Hoegh LNG Holdings, Ltd.	258,448		1,207,016
# *	IDEX ASA	506,708		338,493
	Itera ASA	10,713		12,250
*	Kongsberg Automotive ASA	2,171,519		2,034,847
	Kongsberg Gruppen ASA	46,352		761,071
*	Kvaerner ASA	1,605,790		2,782,894
*	Magnora ASA	124,800		101,926
# *	NEL ASA	5,447,319		2,786,312
*	Next Biometrics Group A.S.	36,548		214,281
# *	Nordic Nanovector ASA	230,106		1,516,680
# *	Nordic Semiconductor ASA	884,263		3,764,108
	Norway Royal Salmon ASA	79,669		2,343,977
# *	Norwegian Air Shuttle ASA	163,645		4,169,515
*	Norwegian Finans Holding ASA	349,270		3,119,540
	Norwegian Property ASA	805,865		987,838
#	Ocean Yield ASA	295,940		2,244,588
# *	Odfjell Drilling, Ltd.	532,640		1,946,510
	Odfjell SE, Class A	137,586		497,766
	Olav Thon Eiendomsselskap ASA	104,037		1,804,798
*	Otello Corp. ASA	221,462		371,744
# *	Panoro Energy ASA	308,482		585,718
*	Petroleum Geo-Services ASA	2,204,670		6,852,280
# *	PhotoCure ASA	106,211		627,680
*	Prosafe SE	301,992		888,482
# *	Protector Forsikring ASA	366,464		1,691,539
*	Q-Free ASA	179,836		162,074
# *	REC Silicon ASA	6,681,258		476,808
#	Sbanken ASA	337,284		3,359,196
#	Scatec Solar ASA	570,555		3,882,617
	Selvaag Bolig ASA	256,708		1,148,978
	Solon Eiendom ASA	41,279		136,984
# *	Solstad Offshore ASA	675,336		239,931
	SpareBank 1 SR-Bank ASA	48,387		537,905

The Continental Small Company Series
continued

		Shares	Value»
NORWAY — (Continued)
	Spectrum ASA	201,208	$	1,327,811
	Stolt-Nielsen, Ltd.	185,151		2,486,142
# *	Thin Film Electronics ASA	2,062,851		225,315
	Tomra Systems ASA	291,263		7,215,087
	Treasure ASA	306,583		396,071
#	Veidekke ASA	555,649		5,797,827
# *	Wallenius Wilhelmsen ASA	101,766		349,672
	Wilh Wilhelmsen Holding ASA, Class A	68,304		1,377,058
#	XXL ASA	29,167		150,077
TOTAL NORWAY				143,504,930
PORTUGAL — (1.1%)
	Altri SGPS SA	601,279		5,269,463
*	Banco Comercial Portugues SA	64,683,272		17,398,916
#	CTT-Correios de Portugal SA	1,043,611		4,002,476
	Ibersol SGPS SA	36,721		352,771
*	Mota-Engil SGPS SA	850,092		1,683,525
	Navigator Co. SA (The)	1,996,077		9,934,644
	NOS SGPS SA	1,766,570		9,908,525
	Novabase SGPS SA	72,649		203,601
#	REN - Redes Energeticas Nacionais SGPS SA	2,954,394		7,866,290
	Semapa-Sociedade de Investimento e Gestao	172,045		3,281,372
	Sonae Capital SGPS SA	789,547		689,158
	Sonae SGPS SA	6,124,902		6,119,741
*	Teixeira Duarte SA	797,539		159,730
TOTAL PORTUGAL				66,870,212
SPAIN — (5.8%)
#	Acciona SA	206,462		17,415,328
	Acerinox SA	1,262,541		14,107,529
# *	Adveo Group International SA	104,096		46,877
	Alantra Partners SA	47,930		758,800
	Almirall SA	472,247		8,556,122
# *	Amper SA	6,327,556		1,871,567
	Applus Services SA	879,100		11,951,330
#	Atresmedia Corp. de Medios de Comunicacion SA	609,294		3,431,600
	Azkoyen SA	67,253		549,703
*	Baron de Ley	13,441		1,628,546
#	Bolsas y Mercados Espanoles SHMSF SA	508,291		15,035,761
	Cellnex Telecom SA	1,049,614		26,110,496
	Cia de Distribucion Integral Logista Holdings SA	353,552		8,536,006
	CIE Automotive SA	491,572		13,010,184
	Construcciones y Auxiliar de Ferrocarriles SA	117,658		4,416,862
# *	Deoleo SA	2,088,552		205,365
	Deoleo SA	452,504		44,334
#	Distribuidora Internacional de Alimentacion SA	3,849,981		2,903,098
# *	Duro Felguera SA	16,320,605		219,996
#	Ebro Foods SA	515,327		10,115,617
# *	eDreams ODIGEO SA	411,386		1,675,236
	Elecnor SA	200,108		2,536,930
	Enagas SA	1,198,599		31,779,001
	Ence Energia y Celulosa SA	1,118,132		9,392,126
	Ercros SA	815,730		3,707,484
#	Euskaltel SA	494,219		4,137,617
	Faes Farma SA	1,856,021		7,804,703
	Fluidra SA	338,754		4,095,816

The Continental Small Company Series
continued

		Shares	Value»
SPAIN — (Continued)
*	Fomento de Construcciones y Contratas SA	290,309	$	3,863,596
# *	Global Dominion Access SA	676,978		3,615,274
	Grupo Catalana Occidente SA	244,400		10,095,858
# *	Grupo Empresarial San Jose SA	132,268		725,922
# *	Grupo Ezentis SA	1,683,706		1,273,091
	Iberpapel Gestion SA	45,010		1,532,581
	Iberpapel Gestion SA	450		15,345
*	Indra Sistemas SA	873,688		8,635,025
#	Laboratorios Farmaceuticos Rovi SA	70,000		1,293,517
*	Liberbank SA	12,379,578		5,792,715
*	Masmovil Ibercom S.A.	1,332		172,896
	Mediaset Espana Comunicacion SA	1,104,946		7,513,453
	Melia Hotels International SA	793,796		8,157,227
	Miquel y Costas & Miquel SA	90,253		2,963,297
# *	Natra SA	244,091		241,813
#	Obrascon Huarte Lain SA	926,681		1,057,808
	Papeles y Cartones de Europa SA	320,535		6,065,612
	Parques Reunidos Servicios Centrales SAU	44,412		552,837
# *	Pharma Mar SA	1,239,595		1,513,340
	Prim SA	39,523		563,881
# *	Promotora de Informaciones SA, Class A	1,879,113		3,412,043
	Prosegur Cia de Seguridad SA	1,713,380		9,515,607
*	Quabit Inmobiliaria SA	822,737		1,580,999
*	Realia Business SA	1,376,419		1,543,485
	Renta 4 Banco SA	442		3,754
	Sacyr S.A.	3,024,288		7,300,119
*	Solaria Energia y Medio Ambiente SA	394,667		1,699,276
# *	Talgo SA	527,275		2,677,390
#	Tecnicas Reunidas SA	234,914		6,316,277
	Telepizza Group SA	135,228		701,730
# *	Tubacex SA	801,831		2,841,471
# *	Tubos Reunidos SA	785,848		176,684
	Unicaja Banco S.A.	456,225		584,007
	Vidrala SA	102,004		8,470,870
	Viscofan SA	281,337		16,828,526
*	Vocento SA	352,577		494,593
	Zardoya Otis SA	1,127,421		7,718,035
TOTAL SPAIN				343,553,988
SWEDEN — (7.2%)
	AAK AB	440,933		6,646,342
*	AcadeMedia AB	267,750		1,226,361
	Acando AB	901,661		3,172,393
#	AddLife AB	80,075		1,835,643
#	AddNode Group AB	56,993		697,642
	AddTech AB, Class B	323,447		6,614,781
	AF AB, Class B	476,390		10,217,195
	Ahlsell AB	931,019		4,712,312
#	Alimak Group AB	231,132		3,253,456
# *	Anoto Group AB	313,692		111,962
# *	Anoto Group AB	24,130		10,020
*	Arise AB	36,861		70,366
	Arjo AB, Class B	368,470		1,251,950
	Atrium Ljungberg AB, Class B	183,542		3,109,235
	Attendo AB	514,461		4,652,213
#	Avanza Bank Holding AB	140,463		7,511,141

The Continental Small Company Series
continued

		Shares	Value»
SWEDEN — (Continued)
*	BE Group AB	27,710	$	131,734
	Beijer Alma AB	268,031		4,042,496
# *	Beijer Electronics Group AB	80,992		377,191
	Beijer Ref AB	246,015		3,885,283
	Bergman & Beving AB	183,702		1,724,669
#	Besqab AB	21,962		277,934
	Betsson AB	775,690		6,735,325
	Bilia AB, Class A	628,332		5,885,301
#	BillerudKorsnas AB	908,745		10,764,508
	BioGaia AB, Class B	112,381		4,549,769
	Biotage AB	391,241		5,126,917
	Bjorn Borg AB	99,769		238,525
	Bonava AB	12,198		135,822
	Bonava AB, Class B	418,059		4,721,859
	Bravida Holding AB	599,657		4,405,452
	Bufab AB	201,951		2,044,394
#	Bulten AB	114,896		1,242,828
	Bure Equity AB	362,928		4,724,578
#	Byggmax Group AB	363,928		1,484,004
	Catena AB	119,979		2,437,552
# *	Cavotec SA	66,402		153,855
#	Clas Ohlson AB, Class B	121,893		1,024,410
	Cloetta AB, Class B	1,520,378		4,582,735
# *	CLX Communications AB	40,200		449,541
*	Collector AB	140,712		821,953
	Com Hem Holding AB	807,301		12,595,112
	Concentric AB	370,121		4,966,762
	Coor Service Management Holding AB	204,469		1,440,671
	Corem Property Group AB	163,626		195,791
	Dedicare AB, Class B	20,550		126,951
	Dios Fastigheter AB	792,725		4,775,073
	Dometic Group AB	642,953		4,490,306
# *	Doro AB	155,569		696,042
#	Duni AB	216,832		2,432,744
#	Dustin Group AB	378,643		3,037,139
	Eastnine AB	111,436		1,045,797
	Elanders AB, Class B	53,806		556,059
# *	Eltel AB	192,132		417,086
# *	Enea AB	83,607		972,496
#	eWork Group AB	32,666		310,245
	Fabege AB	605,493		7,731,771
#	Fagerhult AB	207,289		1,821,757
	Fenix Outdoor International AG	17,308		1,715,441
# *	Fingerprint Cards AB, Class B	634,700		784,559
	Getinge AB, Class B	134,953		1,323,800
	Granges AB	536,918		5,676,350
	Gunnebo AB	158,478		421,904
	Haldex AB	232,013		1,962,617
	Heba Fastighets AB, Class B	50,958		640,359
*	Hembla AB	92,667		1,584,578
	Hemfosa Fastigheter AB	1,119,049		13,825,089
	HIQ International AB	176,375		991,279
#	HMS Networks AB	93,914		1,470,386
#	Hoist Finance AB	404,367		3,242,773
	Holmen AB, Class B	272,681		6,242,634
#	Humana AB	2,657		15,967
	Indutrade AB	328,135		7,876,408

The Continental Small Company Series
continued

		Shares	Value»
SWEDEN — (Continued)
	Inwido AB	330,500	$	2,202,554
#	JM AB	452,357		8,580,597
	KappAhl AB	488,702		1,400,763
	Karo Pharma AB	1,055,923		4,263,393
	Kindred Group P.L.C.	1,027,612		10,955,573
#	Klovern AB, Class B	3,842,814		4,433,935
	KNOW IT AB	159,367		3,099,260
	Kungsleden AB	1,240,420		8,670,710
#	Lagercrantz Group AB, Class B	387,276		3,809,697
	Lindab International AB	517,119		3,613,102
	Loomis AB, Class B	455,780		14,092,550
# *	Medivir AB, Class B	169,635		670,373
#	Mekonomen AB	142,380		1,667,704
#	Mekonomen AB	81,359		951,292
	Modern Times Group MTG AB, Class B	30,768		1,135,759
	Momentum Group AB, Class B	178,233		1,789,260
#	MQ Holding AB	25,122		33,921
#	Mycronic AB	466,944		5,856,782
#	NCC AB, Class B	29,960		446,447
	Nederman Holding AB	27,214		297,297
# *	Net Insight AB, Class B	1,129,868		339,499
#	NetEnt AB	939,633		4,819,442
	New Wave Group AB, Class B	388,933		2,364,409
	Nobia AB	748,449		4,760,859
	Nobina AB	622,440		4,153,295
	Nolato AB, Class B	181,018		8,335,132
	Nordic Waterproofing Holding A.S.	44,044		357,346
	NP3 Fastigheter AB	139,802		933,038
	OEM International AB, Class B	46,319		1,060,981
#	Opus Group AB	1,440,504		880,527
# *	Orexo AB	44,899		305,054
	Oriflame Holding AG	237,287		5,601,588
	Pandox AB	142,822		2,439,944
	Peab AB	1,197,346		10,539,714
	Platzer Fastigheter Holding AB, Class B	178,603		1,153,244
#	Pricer AB, Class B	870,927		971,003
	Proact IT Group AB	50,975		979,413
# *	Qliro Group AB	795,678		1,049,885
*	Radisson Hospitality AB	213,747		825,273
	Ratos AB, Class B	648,130		1,750,454
# *	RaySearch Laboratories AB	132,924		1,675,244
*	Recipharm AB, Class B	284,468		4,209,430
#	Resurs Holding AB	360,191		2,386,083
#	Rottneros AB	641,827		825,560
	Sagax AB, Class B	156,242		2,179,396
*	SAS AB	802,789		1,812,672
	Scandi Standard AB	329,799		2,021,672
	Scandic Hotels Group AB	390,549		3,569,952
	Sectra AB, Class B	93,020		2,425,720
	Semcon AB	107,246		621,153
# *	Sensys Gatso Group AB	3,866,489		721,196
	SkiStar AB	162,619		4,238,030
	Sweco AB, Class B	315,292		7,108,900
#	Systemair AB	84,050		888,703
	Thule Group AB	620,285		12,282,017
	Troax Group AB	45,534		1,263,432
	VBG Group AB, Class B	26,108		399,020

The Continental Small Company Series
continued

		Shares	Value»
SWEDEN — (Continued)
	Vitrolife AB	378,460	$	5,605,812
#	Wallenstam AB, Class B	969,780		8,737,590
	Wihlborgs Fastigheter AB	936,784		10,568,912
TOTAL SWEDEN				427,579,156
SWITZERLAND — (10.7%)
	Allreal Holding AG	91,312		14,007,421
*	Alpiq Holding AG	11,764		992,656
	ALSO Holding AG	34,151		3,870,521
#	ams AG	285,353		11,116,567
	APG SGA SA	8,084		2,847,027
# *	Arbonia AG	306,121		3,840,152
# *	Aryzta AG	543,826		5,072,227
	Ascom Holding AG	227,366		3,626,010
#	Autoneum Holding AG	20,419		3,946,638
	Bachem Holding AG, Class B	17,748		2,075,336
#	Banque Cantonale de Geneve	9,027		1,743,121
	Banque Cantonale du Jura SA	4,071		220,397
	Banque Cantonale Vaudoise	11,753		8,784,360
	Belimo Holding AG	2,689		12,026,394
	Bell Food Group AG	11,143		3,494,155
	Bellevue Group AG	55,759		1,212,263
	Berner Kantonalbank AG	25,819		5,432,634
	BFW Liegenschaften AG	2,894		126,098
	BKW AG	119,029		7,549,510
	Bobst Group SA	55,474		4,193,227
	Bossard Holding AG, Class A	39,127		6,379,430
	Bucher Industries AG	46,421		12,802,466
	Burckhardt Compression Holding AG	19,886		6,589,568
#	Burkhalter Holding AG	21,961		1,715,242
	Calida Holding AG	28,754		896,261
	Carlo Gavazzi Holding AG	2,222		603,835
	Cembra Money Bank AG	196,416		16,472,947
	Cham Group AG	2,308		982,247
#	Cicor Technologies, Ltd.	14,473		723,166
	Cie Financiere Tradition SA	10,069		1,059,635
	Coltene Holding AG	24,027		2,452,134
	Conzzeta AG	8,845		7,909,232
	Daetwyler Holding AG	47,843		7,263,354
	DKSH Holding AG	191,649		12,920,997
#	dormakaba Holding AG	21,077		15,205,814
*	Dottikon Es Holding AG	143		72,783
#	Dufry AG	45,079		5,079,495
	EFG International AG	553,849		3,906,712
	Emmi AG	14,170		10,299,298
	Energiedienst Holding AG	74,815		2,190,750
# *	Evolva Holding SA	3,298,014		851,065
#	Feintool International Holding AG	13,613		1,275,552
	Flughafen Zurich AG	67,199		13,280,723
	Forbo Holding AG	7,693		11,291,704
	GAM Holding AG	1,257,924		7,304,947
	Georg Fischer AG	28,198		26,233,883
	Gurit Holding AG	2,451		2,225,416
	Helvetia Holding AG	49,892		30,560,119
	Hiag Immobilien Holding AG	14,198		1,675,756
#	HOCHDORF Holding AG	7,010		1,069,006

The Continental Small Company Series
continued

		Shares	Value»
SWITZERLAND — (Continued)
	Huber & Suhner AG	77,713	$	5,319,439
	Hypothekarbank Lenzburg AG	6		26,686
	Implenia AG	105,240		5,850,337
	Inficon Holding AG	10,930		5,242,178
	Interroll Holding AG	4,329		8,008,926
	Intershop Holding AG	9,490		4,663,193
	Investis Holding SA	1,343		81,592
	Jungfraubahn Holding AG	9,390		1,235,095
	Kardex AG	42,751		5,557,203
	Komax Holding AG	24,491		6,708,220
#	Kudelski SA	235,411		1,657,162
*	Lastminute.com NV	22,489		412,636
	LEM Holding SA	3,773		4,312,670
	Liechtensteinische Landesbank AG	48,777		3,147,386
	Logitech International SA	409,386		15,157,223
	Luzerner Kantonalbank AG	18,465		9,258,968
*	MCH Group AG	6,654		184,873
#	Meier Tobler Group AG	22,913		397,023
	Metall Zug AG	964		2,846,860
# *	Meyer Burger Technology AG	1,377,244		721,020
	Mikron Holding AG	8,692		78,710
	Mobilezone Holding AG	231,042		2,563,322
	Mobimo Holding AG	40,753		9,074,986
# *	Newron Pharmaceuticals SpA	27,706		236,674
	OC Oerlikon Corp. AG	1,336,754		15,908,963
# *	Orascom Development Holding AG	94,045		1,381,486
#	Orell Fuessli Holding AG	5,028		481,048
	Orior AG	35,374		3,124,604
#	Panalpina Welttransport Holding AG	69,270		8,464,816
	Phoenix Mecano AG	4,053		2,195,641
	Plazza AG, Class A	6,745		1,500,424
	PSP Swiss Property AG	288,164		27,804,076
	Rieter Holding AG	18,515		2,499,439
	Romande Energie Holding SA	2,625		3,127,935
#	Schaffner Holding AG	3,238		867,527
*	Schmolz + Bickenbach AG	3,277,068		2,405,540
	Schweiter Technologies AG	6,163		6,998,164
	SFS Group AG	104,451		10,246,159
	Siegfried Holding AG	27,314		10,956,112
	St Galler Kantonalbank AG	13,623		6,708,052
	Sulzer AG	115,041		11,547,026
	Sunrise Communications Group AG	247,924		21,822,731
	Swiss Prime Site AG	37,441		3,038,088
	Swissquote Group Holding SA	61,345		3,189,350
	Tamedia AG	15,444		1,816,829
	Tecan Group AG	36,214		8,169,434
	Temenos AG	43,948		6,040,081
	Thurgauer Kantonalbank	3,152		323,849
	Tornos Holding AG	18,498		150,762
#	u-blox Holding AG	48,136		6,031,697
	Valiant Holding AG	106,613		12,038,633
	Valora Holding AG	24,609		6,156,328
#	VAT Group AG	174,607		17,520,466
	Vaudoise Assurances Holding SA	6,190		3,110,545
	Vetropack Holding AG	1,254		2,870,414
# *	Von Roll Holding AG	339,643		413,832
	Vontobel Holding AG	173,187		10,745,409

The Continental Small Company Series
continued

		Shares	Value»
SWITZERLAND — (Continued)
	VP Bank AG	19,888	$	3,200,671
	VZ Holding AG	15,617		4,424,043
	Walliser Kantonalbank	18,866		2,116,315
	Warteck Invest AG	2		3,795
#	Ypsomed Holding AG	21,974		2,949,431
	Zehnder Group AG	68,022		2,721,493
	Zug Estates Holding AG, Class B	1,110		1,878,767
	Zuger Kantonalbank AG	681		3,934,881
TOTAL SWITZERLAND				641,097,489
UNITED KINGDOM — (0.1%)
	Rhi Magnesita NV	64,888		3,245,372
TOTAL COMMON STOCKS				5,349,800,068
PREFERRED STOCKS — (0.6%)
GERMANY — (0.6%)
	Biotest AG	90,555		2,401,594
#	Draegerwerk AG & Co. KGaA	51,411		2,759,831
	Fuchs Petrolub SE	33,984		1,573,109
	Jungheinrich AG	305,730		10,129,405
	Sartorius AG	73,965		10,698,533
	Sixt SE	102,981		7,077,064
	STO SE & Co. KGaA	12,355		1,276,770
	Villeroy & Boch AG	50,436		821,654
TOTAL GERMANY				36,737,960
RIGHTS/WARRANTS — (0.0%)
AUSTRIA — (0.0%)
# *	Intercell AG Rights 05/16/13	254,689		0
NORWAY — (0.0%)
*	Magnora ASA Rights 11/09/18	96,156		61,026
SPAIN — (0.0%)
*	Vidrala SA Rights 11/12/18	102,005		410,150
SWEDEN — (0.0%)
# *	Dustin Group AB Rights 11/07/18	374,818		58,735
TOTAL RIGHTS/WARRANTS				529,911
TOTAL INVESTMENT SECURITIES				5,387,067,939
			Value
SECURITIES LENDING COLLATERAL — (9.9%)
@ §	DFA Short Term Investment Fund	50,963,280		589,645,154
TOTAL INVESTMENTS — (100.0%) (Cost $5,396,620,915)			$	5,976,713,093

____________________

P.L.C.	Public Limited Company
SA	Special Assessment
»	Securities that have generally been fair value factored. See Note B to Financial Statements.
#	Total or Partial Securities on Loan.
*	Non-Income Producing Securities.
@	Security purchased with cash proceeds from Securities on Loan.
§	Affiliated Fund.

The Continental Small Company Series
continued

Summary of the Series’ investments as of October 31, 2018, 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		—	$	169,446,465	—	$	169,446,465
Belgium	$	9,566,655		206,662,220	—		216,228,875
Denmark		—		322,812,585	—		322,812,585
Finland		—		369,853,152	—		369,853,152
France		—		672,734,134	—		672,734,134
Germany		—		861,996,572	—		861,996,572
Ireland		—		60,806,923	—		60,806,923
Israel		886,593		155,853,987	—		156,740,580
Italy		—		534,704,724	—		534,704,724
Netherlands		13,210,242		345,414,669	—		358,624,911
Norway		—		143,504,930	—		143,504,930
Portugal		—		66,870,212	—		66,870,212
Spain		—		343,553,988	—		343,553,988
Sweden		961,312		426,617,844	—		427,579,156
Switzerland		—		641,097,489	—		641,097,489
United Kingdom		—		3,245,372	—		3,245,372
Preferred Stocks
Germany		—		36,737,960	—		36,737,960
Rights/Warrants
Norway		—		61,026	—		61,026
Spain		—		410,150	—		410,150
Sweden		—		58,735	—		58,735
Securities Lending Collateral		—		589,645,154	—		589,645,154
TOTAL	$	24,624,802	$	5,952,088,291	—	$	5,976,713,093

THE CANADIAN SMALL COMPANY SERIES

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2018

		Shares	Value»
COMMON STOCKS — (88.1%)
CANADA — (88.1%)
*	5N Plus, Inc.	548,829	$	1,234,026
#	Absolute Software Corp.	240,788		1,408,384
#	Acadian Timber Corp.	63,938		828,579
# *	Advantage Oil & Gas, Ltd.	1,328,942		2,977,993
	Aecon Group, Inc.	432,401		6,217,745
# *	Africa Oil Corp.	1,350,699		1,241,480
#	AG Growth International, Inc.	103,058		4,600,797
	AGF Management, Ltd., Class B	487,635		1,996,546
#	AGT Food & Ingredients, Inc.	151,923		2,024,178
*	Aimia, Inc.	1,008,217		3,025,149
#	AirBoss of America Corp.	100,662		903,813
	AKITA Drilling, Ltd., Class A	71,362		240,684
*	Alacer Gold Corp.	2,049,779		3,347,658
	Alamos Gold, Inc., Class A	2,679,504		10,706,209
#	Alaris Royalty Corp.	295,445		4,317,947
	Alcanna, Inc.	226,411		1,616,669
*	Alexco Resource Corp.	4,700		4,213
	Algoma Central Corp.	41,690		377,489
# *	Alio Gold, Inc.	204,318		145,892
#	Altius Minerals Corp.	269,586		2,590,499
	Altus Group, Ltd.	263,514		5,766,902
# *	Americas Silver Corp.	170,412		339,155
# *	Amerigo Resources, Ltd.	473,700		352,635
#	Andrew Peller, Ltd., Class A	144,800		1,645,492
*	Argonaut Gold, Inc.	1,240,797		1,215,867
*	Aritzia, Inc.	345,670		5,086,124
*	Arrow Exploration Corp.	117,200		62,319
# *	Asanko Gold, Inc.	949,993		728,849
	Atco, Ltd., Class I	34,700		1,011,649
# *	Athabasca Oil Corp.	3,197,876		3,109,333
*	ATS Automation Tooling Systems, Inc.	529,030		7,780,030
#	AutoCanada, Inc.	178,738		1,356,369
*	B2Gold Corp.	6,592,719		16,275,845
#	Badger Daylighting, Ltd.	238,081		4,810,631
# *	Baytex Energy Corp.	3,627,429		7,412,194
# *	Bellatrix Exploration, Ltd.	366,319		311,654
#	Birchcliff Energy, Ltd.	1,666,359		5,253,059
#	Bird Construction, Inc.	308,144		1,594,030
*	Black Diamond Group, Ltd.	340,892		805,328
*	BlackPearl Resources, Inc.	1,652,801		1,506,598
	BMTC Group, Inc.	20,581		234,193
#	Bonavista Energy Corp.	1,670,600		1,586,274
#	Bonterra Energy Corp.	181,418		2,040,944
	Boralex, Inc., Class A	371,884		4,802,330
#	Brookfield Real Estate Services, Inc.	43,369		535,338
# *	BSM Technologies, Inc.	21,200		15,299
	Caledonia Mining Corp. P.L.C.	540		2,937
# *	Calfrac Well Services, Ltd.	874,615		3,002,970
	Calian Group, Ltd.	33,855		666,325
	Canaccord Genuity Group, Inc.	842,465		4,415,670
# *	Canacol Energy, Ltd.	921,342		2,582,514
#	Canadian Western Bank	625,580		14,550,693
*	Canfor Corp.	440,670		6,329,955
	Canfor Pulp Products, Inc.	217,215		3,633,313
	CanWel Building Materials Group, Ltd.	508,922		1,871,079

The Canadian Small Company Series
continued

		Shares	Value»
CANADA — (Continued)
	Capital Power Corp.	692,120	$	14,363,416
# *	Capstone Mining Corp.	3,069,355		1,142,454
#	Cardinal Energy, Ltd.	763,603		2,256,382
	Cargojet, Inc.	16,249		988,678
	Cascades, Inc.	494,777		3,848,621
*	Celestica, Inc.	36,408		377,915
*	Celestica, Inc.	768,923		7,978,646
*	Centerra Gold, Inc.	1,552,135		6,060,219
	Cervus Equipment Corp.	45,297		402,235
#	CES Energy Solutions Corp.	1,447,297		3,836,884
#	Chesswood Group, Ltd.	79,442		603,456
# *	China Gold International Resources Corp., Ltd.	1,668,100		2,280,816
#	Cineplex, Inc.	389,686		10,742,303
	Clairvest Group, Inc.	1,900		67,156
#	Clearwater Seafoods, Inc.	116,595		484,466
	Cogeco Communications, Inc.	106,272		5,210,876
	Cogeco, Inc.	39,668		1,862,192
	Colliers International Group, Inc.	222,402		15,103,300
	Computer Modelling Group, Ltd.	491,883		2,944,311
# *	Conifex Timber, Inc.	37,840		71,860
# *	Continental Gold, Inc.	982,848		1,702,224
# *	Copper Mountain Mining Corp.	972,155		701,544
	Corby Spirit and Wine, Ltd.	78,567		1,151,843
#	Corus Entertainment, Inc., Class B	815,412		3,072,235
	Cott Corp.	96,682		1,454,097
	Cott Corp.	886,570		13,347,881
#	Crescent Point Energy Corp.	745,175		3,520,824
# *	Crew Energy, Inc.	1,228,076		1,156,758
*	CRH Medical Corp.	503,991		1,569,648
*	Delphi Energy Corp.	1,106,839		479,242
# *	Denison Mines Corp.	3,418,235		2,155,141
*	Descartes Systems Group, Inc. (The)	434,588		13,297,280
*	Detour Gold Corp.	1,130,078		8,335,339
#	DHX Media, Ltd.	854,435		1,596,650
# *	DIRTT Environmental Solutions	292,068		1,539,711
	Dorel Industries, Inc., Class B	198,380		3,242,917
*	DREAM Unlimited Corp., Class A	395,785		2,179,681
*	Dundee Precious Metals, Inc.	1,421,222		3,713,778
# *	Echelon Financial Holdings, Inc.	14,650		122,413
	ECN Capital Corp.	2,293,308		6,079,718
# *	eCobalt Solutions, Inc.	100,900		49,820
	E-L Financial Corp., Ltd.	6,578		4,058,378
# *	Eldorado Gold Corp.	4,604,593		3,078,007
#	Element Fleet Management Corp.	2,029,664		11,948,723
# *	Endeavour Mining Corp.	476,720		7,311,307
# *	Endeavour Silver Corp.	753,440		1,516,667
	Enerflex, Ltd.	595,858		7,187,683
# *	Energy Fuels, Inc.	434,690		1,452,873
	Enerplus Corp.	1,620,219		15,076,670
	Enghouse Systems, Ltd.	124,957		6,915,847
#	Ensign Energy Services, Inc.	933,075		3,636,047
*	Epsilon Energy, Ltd.	312,073		616,347
#	Equitable Group, Inc.	77,602		3,566,350
*	Essential Energy Services Trust	1,034,741		314,403
	Evertz Technologies, Ltd.	181,953		2,240,463
#	Exchange Income Corp.	89,484		2,054,166
#	Exco Technologies, Ltd.	179,248		1,256,758

The Canadian Small Company Series
continued

		Shares	Value»
CANADA — (Continued)
# *	EXFO, Inc.	60,487	$	169,085
#	Extendicare, Inc.	673,630		3,766,126
	Fiera Capital Corp.	267,337		2,516,089
#	Firm Capital Mortgage Investment Corp.	169,818		1,661,480
# *	First Majestic Silver Corp.	1,195,031		6,635,784
# *	First Mining Gold Corp.	815,900		185,932
#	First National Financial Corp.	100,937		2,065,588
	FirstService Corp.	1,234		90,576
	FirstService Corp.	193,886		14,224,247
# *	Fission Uranium Corp.	2,083,500		1,060,386
*	Fortuna Silver Mines, Inc.	1,210,391		4,597,178
#	Freehold Royalties, Ltd.	615,558		4,521,589
# *	Frontera Energy Corp.	197,080		2,571,943
	Gamehost, Inc.	68,173		531,319
*	GASFRAC Energy Services, Inc.	91,560		9
*	GDI Integrated Facility Services, Inc.	700		9,332
*	Gear Energy, Ltd.	901,000		574,910
	Genesis Land Development Corp.	76,842		193,790
#	Genworth MI Canada, Inc.	313,480		10,289,393
	Gibson Energy, Inc.	526,901		8,341,082
*	Glacier Media, Inc.	171,625		83,436
#	Gluskin Sheff & Associates, Inc.	215,296		1,834,951
#	GMP Capital, Inc.	396,287		580,982
	goeasy, Ltd.	65,139		2,134,107
*	Golden Star Resources, Ltd.	481,845		1,698,326
*	GoldMoney, Inc.	47,400		84,974
*	Gran Tierra Energy, Inc.	2,881,425		8,820,800
#	Granite Oil Corp.	226,808		206,745
*	Great Canadian Gaming Corp.	395,819		12,748,472
# *	Great Panther Silver, Ltd.	834,051		544,862
	Guardian Capital Group, Ltd., Class A	79,314		1,452,589
# *	Guyana Goldfields, Inc.	1,150,118		1,546,362
*	Heroux-Devtek, Inc.	199,654		1,889,695
#	High Arctic Energy Services, Inc.	93,400		251,157
#	High Liner Foods, Inc.	138,391		890,404
# *	Home Capital Group, Inc.	503,946		4,995,629
	Horizon North Logistics, Inc.	980,944		1,929,921
#	Hudbay Minerals, Inc.	1,705,186		6,696,655
#	Hudson’s Bay Co.	662,726		4,263,959
*	IAMGOLD Corp.	3,238,297		11,118,616
*	IBI Group, Inc.	103,000		314,528
# *	Imperial Metals Corp.	346,592		347,527
*	Indigo Books & Music, Inc.	12,232		128,225
	Information Services Corp.	11,174		126,046
	Innergex Renewable Energy, Inc.	675,689		6,266,977
*	Interfor Corp.	472,408		5,224,855
*	International Tower Hill Mines, Ltd.	13,001		5,925
*	Intertain Group, Ltd. (The)	70,628		610,541
#	Intertape Polymer Group, Inc.	360,977		4,768,423
	Invesque, Inc.	173,866		1,281,392
# *	Ivanhoe Mines, Ltd., Class A	3,002,775		5,656,791
#	Jamieson Wellness, Inc.	72,015		1,239,044
#	Just Energy Group, Inc.	720,976		2,338,537
#	K-Bro Linen, Inc.	63,653		1,798,211
*	Kelt Exploration, Ltd.	1,174,340		5,423,668
*	Kinaxis, Inc.	160,274		10,820,884
*	Kingsway Financial Services, Inc.	13,070		34,650

The Canadian Small Company Series
continued

		Shares	Value»
CANADA — (Continued)
	Kirkland Lake Gold, Ltd.	112,432	$	2,206,023
*	Knight Therapeutics, Inc.	764,725		4,565,869
	KP Tissue, Inc.	26,000		141,411
#	Labrador Iron Ore Royalty Corp.	423,456		9,199,621
# *	Largo Resources, Ltd.	522,593		1,583,916
	Lassonde Industries, Inc., Class A	14,200		2,504,537
#	Laurentian Bank of Canada	300,158		9,475,914
# *	Leagold Mining Corp.	282,642		313,462
	Leon’s Furniture, Ltd.	151,275		1,990,264
	Linamar Corp.	293,286		12,144,039
#	Lucara Diamond Corp.	1,842,003		3,050,299
# *	Lundin Gold, Inc.	151,909		540,039
	Lundin Mining Corp.	117,800		484,103
*	Lydian International, Ltd.	83,014		11,981
	Magellan Aerospace Corp.	94,076		1,357,776
# *	Mainstreet Equity Corp.	29,849		1,082,450
*	Major Drilling Group International, Inc.	615,212		2,177,742
# *	Mandalay Resources Corp.	1,371,135		67,700
	Maple Leaf Foods, Inc.	418,116		9,509,205
# *	Marathon Gold Corp.	172,000		97,991
	Martinrea International, Inc.	565,348		4,891,423
#	Maxar Technologies, Ltd.	311,689		4,659,531
*	Maxim Power Corp.	92,234		152,737
#	Mediagrif Interactive Technologies, Inc.	30,070		242,122
#	Medical Facilities Corp.	202,024		2,151,526
# *	MEG Energy Corp.	1,549,736		12,396,004
	Melcor Developments, Ltd.	52,840		561,935
# *	Midas Gold Corp.	49,164		25,022
*	Mitel Networks Corp.	449,025		4,932,127
	Morguard Corp.	20,668		2,795,506
#	Morneau Shepell, Inc.	329,911		6,836,547
	Mountain Province Diamonds, Inc.	140,800		237,439
	MTY Food Group, Inc.	129,905		6,702,203
#	Mullen Group, Ltd.	670,527		6,978,024
*	Neptune Wellness Solutions, Inc.	20,274		76,233
	Nevsun Resources, Ltd.	2,058,709		9,148,428
# *	New Gold, Inc.	3,824,551		3,050,460
#	NFI Group, Inc.	371,520		12,533,103
*	Nighthawk Gold Corp.	17,500		5,118
#	Norbord, Inc.	240,661		6,136,953
	North American Construction Group, Ltd.	172,534		1,838,772
	North West Co., Inc. (The)	377,836		8,237,224
# *	Northern Dynasty Minerals, Ltd.	106,100		49,969
	Northland Power, Inc.	694,905		10,689,222
*	NuVista Energy, Ltd.	1,310,626		5,276,553
# *	Obsidian Energy, Ltd.	3,864,779		2,818,328
#	OceanaGold Corp.	3,947,774		11,365,463
*	Orbite Technologies, Inc.	73,500		294
#	Osisko Gold Royalties, Ltd.	805,793		6,169,926
# *	Osisko Mining, Inc.	396,577		804,330
# *	Painted Pony Energy, Ltd.	782,649		1,242,536
	Pan American Silver Corp.	1,053,915		15,523,120
# *	Paramount Resources, Ltd., Class A	499,113		3,647,285
*	Parex Resources, Inc.	1,004,921		14,633,549
#	Parkland Fuel Corp.	549,825		18,464,631
	Pason Systems, Inc.	462,079		6,974,446
# *	Pengrowth Energy Corp.	3,272,369		2,262,035

The Canadian Small Company Series
continued

		Shares	Value»
CANADA — (Continued)
#	Peyto Exploration & Development Corp.	1,016,614	$	8,293,847
# *	Photon Control, Inc.	255,994		338,357
*	PHX Energy Services Corp.	285,274		606,758
# *	Pine Cliff Energy, Ltd.	496,700		109,418
	Pivot Technology Solutions, Inc.	53,300		38,868
	Pizza Pizza Royalty Corp.	174,412		1,116,862
# *	Points International, Ltd.	43,259		539,238
	Polaris Infrastructure, Inc.	88,400		717,837
	Pollard Banknote, Ltd.	18,400		341,178
# *	PolyMet Mining Corp.	642,081		570,652
# *	Precision Drilling Corp.	2,116,935		5,113,641
# *	Premier Gold Mines, Ltd.	1,131,049		1,477,765
	Premium Brands Holdings Corp.	175,712		11,816,463
# *	Pretium Resources, Inc.	293,903		2,342,407
# *	Pretium Resources, Inc.	746,317		5,986,636
#	Pulse Seismic, Inc.	308,039		528,822
	Quarterhill, Inc.	791,676		986,250
# *	Questerre Energy Corp., Class A	797,460		284,710
# *	Rb Energy, Inc.	396,013		396
*	Real Matters, Inc.	24,000		68,183
	Recipe Unlimited Corp.	104,977		2,165,806
	Reitmans Canada, Ltd., Class A	263,612		760,929
#	Richelieu Hardware, Ltd.	337,996		6,485,456
	Rocky Mountain Dealerships, Inc.	112,555		872,089
#	Rogers Sugar, Inc.	604,636		2,438,845
# *	Roxgold, Inc.	1,217,860		758,590
	Russel Metals, Inc.	424,396		7,846,708
# *	Sabina Gold & Silver Corp.	1,739,121		1,889,128
*	Sandstorm Gold, Ltd.	1,323,001		4,894,234
	Savaria Corp.	143,200		1,847,040
# *	Seabridge Gold, Inc.	109,635		1,385,792
#	Secure Energy Services, Inc.	1,113,316		7,256,068
*	SEMAFO, Inc.	2,125,321		4,649,569
	ShawCor, Ltd.	417,375		7,571,055
*	Sherritt International Corp.	658,861		280,271
#	Sienna Senior Living, Inc.	312,115		3,935,667
# *	Sierra Wireless, Inc.	262,244		4,727,145
	Sleep Country Canada Holdings, Inc.	235,048		4,742,204
*	Solium Capital, Inc.	42,466		358,709
# *	Source Energy Services, Ltd.	27,900		50,228
# *	Sprott Resource Holdings, Inc.	29,895		32,473
#	Sprott, Inc.	1,500,187		3,430,107
*	SSR Mining, Inc.	826,105		8,095,070
	Stantec, Inc.	606,624		15,787,108
#	Stella-Jones, Inc.	323,806		10,370,057
# *	STEP Energy Services, Ltd.	62,896		178,208
*	Storm Resources, Ltd.	2,300		4,176
# *	Stornoway Diamond Corp.	1,818,797		373,030
*	Strad Energy Services, Ltd.	19,447		23,119
# *	Street Capital Group, Inc.	120,227		75,801
	Stuart Olson, Inc.	156,459		590,680
# *	SunOpta, Inc.	365,050		2,784,080
	Superior Plus Corp.	1,140,753		10,251,136
	Supremex, Inc.	11,691		26,553
#	Surge Energy, Inc.	1,946,656		3,016,581
	Swiss Water Decaffeinated Coffee, Inc.	1,800		6,467
# *	Tahoe Resources, Inc.	1,876,416		4,432,872

The Canadian Small Company Series
continued

		Shares	Value»
CANADA — (Continued)
*	Tamarack Valley Energy, Ltd.	1,428,040	$	3,850,919
# *	Tanzanian Royalty Exploration Corp.	207,891		78,169
*	Taseko Mines, Ltd.	1,417,826		969,306
*	TeraGo, Inc.	6,100		45,086
*	Teranga Gold Corp.	636,014		1,744,092
# *	Tervita Corp.	84,998		483,598
	TFI International, Inc.	570,089		18,971,931
*	Theratechnologies, Inc.	11,390		73,889
#	Tidewater Midstream and Infrastructure, Ltd.	717,200		779,062
#	Timbercreek Financial Corp.	449,604		3,080,579
# *	TMAC Resources, Inc.	88,413		333,114
	TMX Group, Ltd.	180,578		11,356,339
	TORC Oil & Gas, Ltd.	1,100,490		4,522,504
*	Torex Gold Resources, Inc.	522,329		4,757,283
	Toromont Industries, Ltd.	114,313		5,381,989
#	Torstar Corp., Class B	393,289		289,787
	Total Energy Services, Inc.	280,579		2,031,160
	TransAlta Corp.	1,877,409		9,911,499
#	TransAlta Renewables, Inc.	848,516		6,993,352
	Transcontinental, Inc., Class A	507,476		8,353,530
#	TransGlobe Energy Corp.	516,845		1,209,224
# *	Trevali Mining Corp.	4,113,289		1,531,020
# *	Trican Well Service, Ltd.	2,020,540		2,762,712
#	Tricon Capital Group, Inc.	871,605		6,925,435
*	Trinidad Drilling, Ltd.	1,734,484		2,187,127
*	Trisura Group, Ltd.	24,211		477,801
#	Uni-Select, Inc.	263,231		4,333,029
#	Valener, Inc.	292,658		4,370,585
	Vecima Networks, Inc.	6,059		39,766
	Wajax Corp.	140,466		2,493,593
*	Wesdome Gold Mines, Ltd.	798,483		2,298,796
# *	Western Energy Services Corp.	573,097		296,028
#	Western Forest Products, Inc.	2,691,803		3,598,749
	Westshore Terminals Investment Corp.	319,049		5,816,534
	Whitecap Resources, Inc.	2,879,377		14,085,752
	Winpak, Ltd.	176,735		6,131,253
	Yamana Gold, Inc.	6,738,268		15,304,357
*	Yangarra Resources, Ltd.	514,771		1,470,272
# *	Yellow Pages, Ltd.	194,020		1,173,154
	ZCL Composites, Inc.	176,127		896,389
	Zenith Capital Corp.	111,820		6,880
TOTAL CANADA				1,144,091,619
RIGHTS/WARRANTS — (0.0%)
CANADA — (0.0%)
# *	Tervita Corp. Warrants 07/19/20	10,964		2,499
TOTAL INVESTMENT SECURITIES				1,144,094,118
			Value†
SECURITIES LENDING COLLATERAL — (11.9%)
@ §	DFA Short Term Investment Fund	13,314,106		154,044,207
TOTAL INVESTMENTS — (100.0%)
(Cost $1,577,242,207)			$	1,298,138,325

The Canadian Small Company Series
continued

P.L.C.	Public Limited Company
»	Securities that have generally been fair value factored. See Note B to Financial Statements.
*	Non-Income Producing Securities.
#	Total or Partial Securities on Loan.
†	See Note B to Financial Statements.
@	Security purchased with cash proceeds from Securities on Loan.
§	Affiliated Fund.

Summary of the Series’ investments as of October 31, 2018, 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
Communication Services	$	27,342,991		—	—	$	27,342,991
Consumer Discretionary		67,997,479	$	6,880	—		68,004,359
Consumer Staples		61,368,537		—	—		61,368,537
Energy		251,877,403		9	—		251,877,412
Financials		107,274,021		—	—		107,274,021
Healthcare		16,062,725		—	—		16,062,725
Industrials		140,744,515		—	—		140,744,515
Information Technology		54,645,025		—	—		54,645,025
Materials		294,035,468		690	—		294,036,158
Real Estate		50,866,599		—	—		50,866,599
Utilities		71,869,277		—	—		71,869,277
Rights/Warrants
Energy		—		2,499	—		2,499
Securities Lending Collateral		—		154,044,207	—		154,044,207
TOTAL	$	1,144,084,040	$	154,054,285	—	$	1,298,138,325

(b) Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End ManagementInvestment 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 andAffiliated 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.

(a)(4) 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, 2019

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, 2019

By:	/s/ Michael Clinton
	Michael Clinton
	Treasurer and Chief Financial and Accounting Officer

Date: March 7, 2019