Vanguard Charlotte Funds N-CSR Certified 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: 811-22619

Name of Registrant:	Vanguard Charlotte Funds
Address of Registrant:	P.O. Box 2600
	Valley Forge, PA 19482

Name and address of agent for service:	Anne E. Robinson, Esquire
	P.O. Box 876
	Valley Forge, PA 19482

Registrant’s telephone number, including area code: (610) 669-1000

Date of fiscal year end:  October 31

Date of reporting period: November 1, 2018—October 31, 2019

Item 1: Reports to Shareholders

Annual Report | October 31, 2019

Vanguard Total International Bond Index Fund

See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports.

Important information about access to shareholder reports

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of your fund’s annual and semiannual shareholder reports will no longer be sent to you by mail, unless you specifically request them. Instead, you will be notified by mail each time a report is posted on the website and will be provided with a link to access the report.

If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. You may elect to receive shareholder reports and other communications from the fund electronically by contacting your financial intermediary (such as a broker-dealer or bank) or, if you invest directly with the fund, by calling Vanguard at one of the phone numbers on the back cover of this report or by logging on to vanguard.com.

You may elect to receive paper copies of all future shareholder reports free of charge. If you invest through a financial intermediary, you can contact the intermediary to request that you continue to receive paper copies. If you invest directly with the fund, you can call Vanguard at one of the phone numbers on the back cover of this report or log on to vanguard.com. Your election to receive paper copies will apply to all the funds you hold through an intermediary or directly with Vanguard.

Contents
A Note From Our Chairman	1
Your Fund’s Performance at a Glance	2
About Your Fund’s Expenses	3
Performance Summary	5
Financial Statements	8

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your fund are spelled out in the prospectus.

A Note From Our Chairman

Tim Buckley

Chairman and Chief Executive Officer

Dear Shareholder,

Recent volatility in financial markets— affecting stocks, bonds, and commodities— has been a good reminder of the wise old adage, “Never keep all your eggs in one basket.” Maintaining balance and diversification in your investment portfolio can help to both limit risk and set you up for long-term success.

It’s understandable why some investors might become complacent after a long market run-up like the one that lifted stock prices, especially U.S. stock prices, in the years following the global financial crisis. But failing to rebalance regularly can leave a portfolio with a much different mix of assets than intended and, often, more risk than intended.

Balance across and diversification within asset classes are powerful tools for managing risk and achieving your investment goals. A portfolio’s allocation will determine a large portion of its long-term return and also the majority of its volatility risk. A well-diversified portfolio is less vulnerable to significant swings in the performance of any one segment of the asset classes in which it invests.

Balance and diversification will never eliminate the risk of loss, nor will they guarantee positive returns in a declining market. But they should reduce the chance that you’ll suffer disproportionate losses in one particular high-flying asset class or sector when it comes back to earth. And exposure to all key market components should give you at least some participation in the sectors that are performing best at any given time.

Vanguard is committed to helping you achieve balance and diversification in your portfolios to help meet your investment goals. We thank you for your continued loyalty.

Sincerely,

Mortimer J. Buckley

Chairman and Chief Executive Officer

November 18, 2019

1

Your Fund’s Performance at a Glance

·     Global markets rallied during the 12 months ended October 31, 2019. Investors were initially worried about slowing global growth, heightened trade tensions, and tightening monetary policies—but they relaxed and again reached for yield as central banks turned more accommodative and growth concerns eased. Global bond yields ended the period lower, pushing bond prices higher.

·     Investor Shares of Vanguard Total International Bond Index Fund returned 10.39%. These results were in line with the 10.53% return of the fund’s benchmark index, a theoretical construct that, unlike your fund, incurs no operating or transaction costs.

·     All 64 countries in the index recorded gains in U.S. dollar terms. Among the largest contributors were Italy and the United Kingdom.

·     By credit quality, returns were highest for Baa-rated issues, the lowest rung on the investment-grade ladder. These bonds returned almost 16% and accounted for a bit less than one-fifth of the index.

·     Longer-dated issues had higher returns than their shorter-dated counterparts. Bonds with maturities of 30 or more years returned nearly 30%.

·     The fund regularly uses derivatives to hedge portfolio risks. The fund’s holdings of forward currency contracts boosted performance.

Market Barometer

	Average Annual Total Returns
	Periods Ended October 31, 2019
	One Year	Three Years	Five Years
Stocks
Russell 1000 Index (Large-caps)	14.15%	14.73%	10.55%
Russell 2000 Index (Small-caps)	4.90	10.96	7.37
Russell 3000 Index (Broad U.S. market)	13.49	14.47	10.31
FTSE All-World ex US Index (International)	11.52	8.21	4.16
Bonds
Bloomberg Barclays U.S. Aggregate Bond Index (Broad taxable market)	11.51%	3.29%	3.24%
Bloomberg Barclays Municipal Bond Index (Broad tax-exempt market)	9.42	3.62	3.55
FTSE Three-Month U.S. Treasury Bill Index	2.35	1.57	0.98
CPI
Consumer Price Index	1.76%	2.11%	1.62%

2

About Your Fund’s Expenses

As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, 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 your 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 accompanying table illustrates your fund’s costs in two ways:

·     Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from the fund’s actual return, and the third column shows 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, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading “Expenses Paid During Period.”

·     Based on hypothetical 5% yearly return. This section is intended to help you compare your fund’s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. 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 Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% 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.

Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.

3

Six Months Ended October 31, 2019

	Beginning	Ending	Expenses
	Account Value	Account Value	Paid During
Total International Bond Index Fund	4/30/2019	10/31/2019	Period
Based on Actual Fund Return
Investor Shares	$1,000.00	$1,053.02	$0.67
ETF Shares	1,000.00	1,053.04	0.36
Admiral™ Shares	1,000.00	1,053.13	0.57
Institutional Shares	1,000.00	1,053.03	0.36
Based on Hypothetical 5% Yearly Return
Investor Shares	$1,000.00	$1,024.55	$0.66
ETF Shares	1,000.00	1,024.85	0.36
Admiral Shares	1,000.00	1,024.65	0.56
Institutional Shares	1,000.00	1,024.85	0.36

The calculations are based on expenses incurred in the most recent six-month period. The fund’s annualized six-month expense ratios for that period are 0.13% for Investor Shares, 0.07% for ETF Shares, 0.11% for Admiral Shares, and 0.07% for Institutional Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

4

Total International Bond Index Fund

Performance Summary

All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the fund. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor’s shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.

Cumulative Performance: May 31, 2013, Through October 31, 2019

Initial Investment of $10,000

		Average Annual Total Returns
		Periods Ended October 31, 2019
				Since	Final Value
		One	Five	Inception	of a $10,000
		Year	Years	(5/31/2013)	Investment
	Total International Bond Index Fund Investor Shares	10.39%	4.28%	4.36%	$13,149
	Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged)	10.53	4.54	4.63	13,372

“Since Inception” performance is calculated from the Investor Shares’ inception date for both the fund and its comparative standard.

			Since	Final Value
	One	Five	Inception	of a $10,000
	Year	Years	(5/31/2013)	Investment
Total International Bond Index Fund ETF Shares Net Asset Value	10.40%	4.31%	4.39%	$13,173
Total International Bond Index Fund ETF Shares Market Price	10.50	4.29	4.42	13,200
Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged)	10.53	4.54	4.63	13,372

“Since Inception” performance is calculated from the ETF Shares’ inception date for both the fund and its comparative standard.

See Financial Highlights for dividend and capital gains information.

5

Total International Bond Index Fund

	Average Annual Total Returns
	Periods Ended October 31, 2019
			Since	Final Value
	One	Five	Inception	of a $10,000
	Year	Years	(5/31/2013)	Investment
Total International Bond Index Fund Admiral Shares	10.41%	4.30%	4.38%	$13,170
Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged)	10.53	4.54	4.63	13,372

“Since Inception” performance is calculated from the Admiral Shares’ inception date for both the fund and its comparative standard.

			Since	Final Value
	One	Five	Inception	of a $5,000,000
	Year	Years	(5/31/2013)	Investment
Total International Bond Index Fund Institutional Shares	10.42%	4.35%	4.44%	$6,606,850
Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged)	10.53	4.54	4.63	6,685,871

“Since Inception” performance is calculated from the Institutional Shares’ inception date for both the fund and its comparative standard.

Cumulative Returns of ETF Shares: May 31, 2013, Through October 31, 2019

			Since
	One	Five	Inception
	Year	Years	(5/31/2013)
Total International Bond Index Fund ETF Shares Market Price	10.50%	23.40%	32.00%
Total International Bond Index Fund ETF Shares Net Asset Value	10.40	23.49	31.73
Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged)	10.53	24.84	33.72

“Since Inception” performance is calculated from the ETF Shares’ inception date for both the fund and its comparative standard.

For the ETF Shares, the market price is determined by the midpoint of the bid-offer spread as of the closing time of the New York Stock Exchange (generally 4 p.m., Eastern time). The net asset value is also determined as of the NYSE closing time. For more information about how the ETF Shares’ market prices have compared with their net asset value, visit vanguard.com, select your ETF, and then select the Price and Performance tab. The ETF premium/discount analysis there shows the percentages of days on which the ETF Shares’ market price was above or below the NAV.

6

Total International Bond Index Fund

Sector Diversification

As of October 31, 2019

Finance	7.7%
Foreign	80.1
Industrial	6.6
Utilities	1.2
Other	4.4

The table reflects the fund’s market exposure. Any holdings in short-term reserves are excluded. The agency and mortgage-backed securities sectors may include issues from government-sponsored enterprises; such issues are generally not backed by the full faith and credit of the U.S. government.

7

Total International Bond Index Fund

Financial Statements

Statement of Net Assets

As of October 31, 2019

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Australia (2.6%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.1%)
	Australia & New Zealand Banking Group Ltd.	0.450%	11/22/23	EUR	16,000		18,322
	Australia & New Zealand Banking Group Ltd.	2.500%	1/16/24	EUR	5,000		6,206
	Australia & New Zealand Banking Group Ltd.	5.000%	8/16/23	AUD	5,500		4,285
	Commonwealth Bank of Australia	0.500%	7/27/26	EUR	31,600		36,507
	Commonwealth Bank of Australia	0.750%	11/4/21	EUR	9,000		10,257
	Commonwealth Bank of Australia	0.875%	2/19/29	EUR	10,000		11,921
	Commonwealth Bank of Australia	1.125%	12/22/21	GBP	1,800		2,337
	Commonwealth Bank of Australia	2.750%	11/17/21	AUD	3,100		2,202
	Commonwealth Bank of Australia	3.000%	5/3/22	EUR	15,100		18,233
	Commonwealth Bank of Australia	3.000%	9/4/26	GBP	1,700		2,474
	National Australia Bank Ltd.	0.875%	11/16/22	EUR	5,000		5,769
	National Australia Bank Ltd.	0.875%	2/19/27	EUR	10,000		11,845
	National Australia Bank Ltd.	1.375%	5/28/21	EUR	700		802
	National Australia Bank Ltd.	1.875%	1/13/23	EUR	5,000		5,955
	National Australia Bank Ltd.	2.250%	6/6/25	EUR	1,800		2,273
	National Australia Bank Ltd.	3.000%	9/4/26	GBP	500		730
	National Australia Bank Ltd.	5.000%	3/11/24	AUD	6,750		5,326
	Suncorp-Metway Ltd.	3.000%	9/13/23	AUD	2,400		1,747
	Suncorp-Metway Ltd.	3.250%	8/24/26	AUD	1,000		748
	Westpac Banking Corp.	0.625%	1/14/22	EUR	10,000		11,379
	Westpac Banking Corp.	0.750%	7/22/21	EUR	10,000		11,357
	Westpac Banking Corp.	1.000%	6/30/22	GBP	1,500		1,938
	Westpac Banking Corp.	1.375%	5/17/32	EUR	10,000		12,623
	Westpac Banking Corp.	1.500%	3/24/21	EUR	7,200		8,236
	Westpac Banking Corp.	2.750%	8/31/22	AUD	13,200		9,466
	Westpac Banking Corp.	5.250%	11/21/23	AUD	3,500		2,774
							205,712
Corporate Bonds (0.5%)
	AGL Energy Ltd.	5.000%	11/5/21	AUD	4,380		3,167
	AMP Capital Wholesale Office Fund	4.750%	10/7/21	AUD	1,000		716
	APT Pipelines Ltd.	1.375%	3/22/22	EUR	300		345
	APT Pipelines Ltd.	2.000%	3/22/27	EUR	8,400		10,154
	APT Pipelines Ltd.	3.500%	3/22/30	GBP	12,300		17,737
	APT Pipelines Ltd.	4.250%	11/26/24	GBP	1,000		1,461
	Asciano Finance Ltd.	5.000%	9/19/23	GBP	500		723
	Aurizon Network Pty Ltd.	2.000%	9/18/24	EUR	3,000		3,637
	Aurizon Network Pty Ltd.	4.000%	6/21/24	AUD	1,520		1,119
	Ausgrid Finance Pty Ltd.	1.250%	7/30/25	EUR	3,300		3,826
	Ausgrid Finance Pty Ltd.	3.750%	10/30/24	AUD	6,000		4,469
	AusNet Services Holdings Pty Ltd.	1.500%	2/26/27	EUR	2,700		3,232

8

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	AusNet Services Holdings Pty Ltd.	3.000%	2/13/24	EUR	4,000		5,021
	AusNet Services Holdings Pty Ltd.	4.200%	8/21/28	AUD	2,800		2,234
	AusNet Services Holdings Pty Ltd.	4.400%	8/16/27	AUD	1,040		834
	AusNet Services Holdings Pty Ltd.	5.750%	6/28/22	AUD	1,490		1,140
	Australia & New Zealand Banking Group Ltd.	0.625%	2/21/23	EUR	10,000		11,401
	Australia & New Zealand Banking Group Ltd.	2.950%	7/16/21	AUD	700		496
	Australia & New Zealand Banking Group Ltd.	3.100%	2/8/24	AUD	13,816		10,111
	Australia & New Zealand Banking Group Ltd.	3.300%	3/7/22	AUD	800		576
	Australia & New Zealand Banking Group Ltd.	3.350%	5/9/23	AUD	400		293
	Australia Pacific Airports Melbourne Pty Ltd.	1.750%	10/15/24	EUR	14,000		16,742
	Australia Pacific Airports Melbourne Pty Ltd.	3.125%	9/26/23	EUR	5,000		6,238
	Australian Gas Networks Vic 3 Pty Ltd.	4.500%	12/17/21	AUD	270		197
	Bank of Queensland Ltd.	0.500%	7/10/22	EUR	500		567
	BHP Billiton Finance Ltd.	0.750%	10/28/22	EUR	200		228
	BHP Billiton Finance Ltd.	1.500%	4/29/30	EUR	5,100		6,142
	BHP Billiton Finance Ltd.	3.125%	4/29/33	EUR	3,000		4,294
	BHP Billiton Finance Ltd.	3.250%	9/24/27	EUR	16,500		22,462
	BHP Billiton Finance Ltd.	4.300%	9/25/42	GBP	9,175		16,615
1	BHP Billiton Finance Ltd.	5.625%	10/22/79	EUR	300		407
1	BHP Billiton Finance Ltd.	6.500%	10/22/77	GBP	2,200		3,213
	Brisbane Airport Corp. Pty Ltd.	3.900%	4/24/25	AUD	3,810		2,864
	Caltex Australia Ltd.	4.000%	4/17/25	AUD	14,200		10,600
	Commonwealth Bank of Australia	0.375%	2/10/21	EUR	1,500		1,688
	Commonwealth Bank of Australia	0.375%	4/11/24	EUR	12,100		13,819
	Commonwealth Bank of Australia	1.125%	1/18/28	EUR	3,000		3,592
	Commonwealth Bank of Australia	1.625%	2/10/31	EUR	100		129
1	Commonwealth Bank of Australia	1.936%	10/3/29	EUR	19,000		22,124
1	Commonwealth Bank of Australia	2.000%	4/22/27	EUR	7,100		8,220
	Commonwealth Bank of Australia	2.750%	8/16/21	AUD	750		530
	Commonwealth Bank of Australia	2.900%	7/12/21	AUD	46,170		32,670
	Commonwealth Bank of Australia	3.000%	1/11/24	AUD	17,500		12,750
	Commonwealth Bank of Australia	3.200%	8/16/23	AUD	600		439
	Commonwealth Bank of Australia	3.250%	1/17/22	AUD	1,050		754
	Commonwealth Bank of Australia	3.250%	3/31/22	AUD	2,600		1,872
	Commonwealth Bank of Australia	3.250%	4/25/23	AUD	1,000		730
	ConnectEast Finance Pty Ltd.	4.250%	2/25/22	AUD	930		674
	DBNGP Finance Co. Pty Ltd.	4.225%	5/28/25	AUD	2,890		2,198
	ETSA Utilities Finance Pty Ltd.	3.500%	8/29/24	AUD	930		687
	Goodman Australia Finance Pty Ltd.	1.375%	9/27/25	EUR	4,000		4,625
	Incitec Pivot Ltd.	4.300%	3/18/26	AUD	2,040		1,525
	Lonsdale Finance Pty Ltd.	3.900%	10/15/25	AUD	5,030		3,783
	Macquarie Bank Ltd.	0.375%	3/3/21	EUR	6,000		6,752
	Macquarie Bank Ltd.	1.125%	1/20/22	EUR	3,600		4,121
	Macquarie Bank Ltd.	3.500%	12/18/20	GBP	1,000		1,329
1	Macquarie Group Ltd.	1.250%	3/5/25	EUR	20,000		23,099
	Macquarie Group Ltd.	3.250%	12/15/21	AUD	500		354
	National Australia Bank Ltd.	0.250%	1/19/23	CHF	2,600		2,682
	National Australia Bank Ltd.	0.250%	5/20/24	EUR	10,000		11,259
	National Australia Bank Ltd.	0.300%	10/31/25	CHF	9,900		10,290
	National Australia Bank Ltd.	0.350%	9/7/22	EUR	10,100		11,413
	National Australia Bank Ltd.	0.625%	8/30/23	EUR	100		114
	National Australia Bank Ltd.	0.625%	9/18/24	EUR	2,500		2,862
	National Australia Bank Ltd.	0.875%	1/20/22	EUR	18,100		20,636
	National Australia Bank Ltd.	1.125%	11/10/21	GBP	1,600		2,077

9

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
National Australia Bank Ltd.	1.375%	6/27/22	GBP	500		652
National Australia Bank Ltd.	2.000%	11/12/20	EUR	6,000		6,847
National Australia Bank Ltd.	2.750%	4/16/21	AUD	40,700		28,642
National Australia Bank Ltd.	2.900%	2/26/24	AUD	16,300		11,841
National Australia Bank Ltd.	3.000%	2/10/23	AUD	2,100		1,518
National Australia Bank Ltd.	3.250%	3/24/22	AUD	1,800		1,295
National Australia Bank Ltd.	5.125%	12/9/21	GBP	5,500		7,717
Origin Energy Finance Ltd.	1.000%	9/17/29	EUR	5,000		5,516
Pacific National Finance Pty Ltd.	5.250%	5/19/25	AUD	5,690		4,447
Perth Airport Pty Ltd.	5.500%	3/25/21	AUD	7,500		5,446
Qantas Airways Ltd.	7.500%	6/11/21	AUD	10,600		7,970
Qantas Airways Ltd.	7.750%	5/19/22	AUD	1,730		1,365
Rio Tinto Finance plc	2.875%	12/11/24	EUR	300		380
Rio Tinto Finance plc	4.000%	12/11/29	GBP	5,200		8,299
Scentre Group Trust 1	2.250%	7/16/24	EUR	3,898		4,745
Scentre Group Trust 1	3.875%	7/16/26	GBP	7,000		10,136
Scentre Group Trust 1	4.500%	9/8/21	AUD	2,500		1,803
Scentre Group Trust 1 / Scentre Group Trust 2	1.375%	3/22/23	EUR	5,000		5,789
Scentre Group Trust 1 / Scentre Group Trust 2	1.450%	3/28/29	EUR	5,000		5,920
Scentre Group Trust 1 / Scentre Group Trust 2	1.750%	4/11/28	EUR	9,000		10,928
Scentre Group Trust 1 / Scentre Group Trust 2	2.375%	4/8/22	GBP	4,100		5,447
Scentre Group Trust 2	3.250%	9/11/23	EUR	6,273		7,818
Telstra Corp. Ltd.	1.125%	4/14/26	EUR	11,500		13,570
Telstra Corp. Ltd.	2.500%	9/15/23	EUR	10,000		12,222
Telstra Corp. Ltd.	3.500%	9/21/22	EUR	500		615
Telstra Corp. Ltd.	3.750%	5/16/22	EUR	100		122
Telstra Corp. Ltd.	4.000%	9/16/22	AUD	2,020		1,486
Telstra Corp. Ltd.	4.000%	4/19/27	AUD	2,000		1,551
Toyota Finance Australia Ltd.	3.300%	11/22/23	AUD	550		403
Transurban Finance Co. Pty Ltd.	1.750%	3/29/28	EUR	5,000		6,033
Transurban Finance Co. Pty Ltd.	1.875%	9/16/24	EUR	3,000		3,584
United Energy Distribution Pty Ltd.	3.500%	9/12/23	AUD	560		408
United Energy Distribution Pty Ltd.	3.850%	10/23/24	AUD	3,050		2,288
University of Technology Sydney	3.750%	7/20/27	AUD	300		235
Vicinity Centres	3.375%	4/7/26	GBP	1,259		1,740
Volkswagen Financial Services Australia Pty Ltd.	3.250%	4/13/21	AUD	900		632
Wesfarmers Ltd.	1.250%	10/7/21	EUR	500		572
Wesfarmers Ltd.	2.750%	8/2/22	EUR	3,000		3,606
Wesfarmers Ltd.	3.660%	11/18/20	AUD	2,300		1,622
Westpac Banking Corp.	0.250%	1/17/22	EUR	1,000		1,124
Westpac Banking Corp.	0.375%	3/5/23	EUR	8,000		9,025
Westpac Banking Corp.	0.500%	12/4/23	EUR	1,000		1,148
Westpac Banking Corp.	0.500%	5/17/24	EUR	2,500		2,872
Westpac Banking Corp.	0.625%	11/22/24	EUR	5,000		5,717
Westpac Banking Corp.	0.875%	2/16/21	EUR	6,000		6,782
Westpac Banking Corp.	0.875%	4/17/27	EUR	200		234
Westpac Banking Corp.	1.125%	9/5/27	EUR	11,100		13,248
Westpac Banking Corp.	1.450%	7/17/28	EUR	800		983
Westpac Banking Corp.	2.625%	12/14/22	GBP	2,300		3,118

10

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Westpac Banking Corp.	3.000%	4/24/24	AUD	800		584
	Westpac Banking Corp.	3.100%	6/3/21	AUD	500		354
	Westpac Banking Corp.	3.125%	10/27/22	AUD	1,800		1,302
	Westpac Banking Corp.	3.250%	11/16/23	AUD	600		441
	Westpac Banking Corp.	4.125%	6/4/26	AUD	1,700		1,331
	WSO Finance Pty Ltd.	4.500%	3/31/27	AUD	3,450		2,719
							629,250
Sovereign Bonds (2.0%)
	Australian Capital Territory	4.000%	5/22/24	AUD	5,000		3,882
	Commonwealth of Australia	1.500%	6/21/31	AUD	35,000		24,981
	Commonwealth of Australia	1.750%	11/21/20	AUD	39,773		27,668
	Commonwealth of Australia	2.000%	12/21/21	AUD	145,000		102,435
	Commonwealth of Australia	2.250%	11/21/22	AUD	50,000		35,959
	Commonwealth of Australia	2.250%	5/21/28	AUD	57,000		42,988
	Commonwealth of Australia	2.500%	5/21/30	AUD	109,800		85,910
	Commonwealth of Australia	2.750%	4/21/24	AUD	104,800		78,294
	Commonwealth of Australia	2.750%	11/21/27	AUD	116,000		90,273
	Commonwealth of Australia	2.750%	11/21/28	AUD	289,715		227,873
	Commonwealth of Australia	2.750%	11/21/29	AUD	122,000		97,033
	Commonwealth of Australia	2.750%	6/21/35	AUD	93,365		77,066
	Commonwealth of Australia	2.750%	5/21/41	AUD	28,348		23,613
	Commonwealth of Australia	3.000%	3/21/47	AUD	71,000		62,654
	Commonwealth of Australia	3.250%	4/21/25	AUD	182,790		141,679
	Commonwealth of Australia	3.250%	4/21/29	AUD	240,000		197,056
	Commonwealth of Australia	3.250%	6/21/39	AUD	69,700		62,113
	Commonwealth of Australia	3.750%	4/21/37	AUD	41,000		38,342
	Commonwealth of Australia	4.250%	4/21/26	AUD	152,914		127,055
	Commonwealth of Australia	4.500%	4/21/33	AUD	42,000		40,675
	Commonwealth of Australia	4.750%	4/21/27	AUD	159,351		139,232
	Commonwealth of Australia	5.500%	4/21/23	AUD	100,600		80,412
	Commonwealth of Australia	5.750%	5/15/21	AUD	62,540		46,318
	Commonwealth of Australia	5.750%	7/15/22	AUD	102,322		79,828
	National Housing Finance and Investment Corp.	2.380%	3/28/29	AUD	2,110		1,574
	New South Wales Treasury Corp.	3.000%	5/20/27	AUD	55,975		43,084
	New South Wales Treasury Corp.	3.000%	3/20/28	AUD	49,000		37,898
	New South Wales Treasury Corp.	3.000%	11/15/28	AUD	20,000		15,520
	New South Wales Treasury Corp.	3.000%	4/20/29	AUD	23,331		18,131
	New South Wales Treasury Corp.	3.000%	2/20/30	AUD	30,960		24,183
	New South Wales Treasury Corp.	4.000%	4/8/21	AUD	11,000		7,910
	New South Wales Treasury Corp.	4.000%	4/20/23	AUD	31,000		23,528
	New South Wales Treasury Corp.	4.000%	5/20/26	AUD	5,000		4,039
	New South Wales Treasury Corp.	5.000%	8/20/24	AUD	21,200		17,254
	New South Wales Treasury Corp.	6.000%	3/1/22	AUD	35,050		26,950
	New South Wales Treasury Corp.	6.000%	5/1/30	AUD	3,000		2,957
	Northern Territory Treasury Corp.	2.500%	11/21/22	AUD	500		358
	Northern Territory Treasury Corp.	2.750%	10/21/24	AUD	500		367
	Northern Territory Treasury Corp.	2.750%	4/21/27	AUD	10,400		7,729
	Northern Territory Treasury Corp.	4.250%	9/20/21	AUD	2,200		1,605
	Optus Finance Pty Ltd.	3.250%	8/23/22	AUD	300		216
	Optus Finance Pty Ltd.	3.250%	9/6/23	AUD	550		400
2	Queensland Treasury Corp.	2.750%	8/20/27	AUD	18,000		13,602
2	Queensland Treasury Corp.	3.000%	3/22/24	AUD	10,000		7,444
2	Queensland Treasury Corp.	3.250%	7/21/26	AUD	42,500		32,913

11

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
2	Queensland Treasury Corp.	3.250%	7/21/28	AUD	42,200		33,189
2	Queensland Treasury Corp.	3.250%	8/21/29	AUD	15,000		11,877
2	Queensland Treasury Corp.	3.500%	8/21/30	AUD	17,000		13,826
2	Queensland Treasury Corp.	4.200%	2/20/47	AUD	7,360		7,043
2	Queensland Treasury Corp.	4.250%	7/21/23	AUD	43,000		33,056
2	Queensland Treasury Corp.	4.750%	7/21/25	AUD	42,000		34,548
	Queensland Treasury Corp.	5.500%	6/21/21	AUD	47,500		35,122
	Queensland Treasury Corp.	5.750%	7/22/24	AUD	38,200		31,897
	Queensland Treasury Corp.	6.000%	7/21/22	AUD	59,600		46,546
	Queensland Treasury Corp.	6.500%	3/14/33	AUD	3,650		3,919
	SGSP Australia Assets Pty Ltd.	2.000%	6/30/22	EUR	3,700		4,334
	SGSP Australia Assets Pty Ltd.	3.750%	6/28/23	AUD	900		667
	SGSP Australia Assets Pty Ltd.	5.125%	2/11/21	GBP	1,000		1,354
	SGSP Australia Assets Pty Ltd.	5.500%	3/12/21	AUD	4,400		3,197
	South Australian Government Financing Authority	1.500%	9/22/22	AUD	22,800		15,935
	South Australian Government Financing Authority	2.250%	8/15/24	AUD	15,000		10,867
	South Australian Government Financing Authority	2.750%	4/16/25	AUD	11,000		8,183
	South Australian Government Financing Authority	2.750%	5/24/30	AUD	18,000		13,682
	South Australian Government Financing Authority	3.000%	7/20/26	AUD	6,500		4,957
	South Australian Government Financing Authority	3.000%	9/20/27	AUD	1,250		962
	South Australian Government Financing Authority	3.000%	5/24/28	AUD	5,890		4,539
	South Australian Government Financing Authority	4.250%	11/20/23	AUD	5,000		3,880
	South Australian Government Financing Authority	5.000%	5/20/21	AUD	10,000		7,318
	Tasmanian Public Finance Corp.	3.250%	2/19/26	AUD	9,000		6,890
	Treasury Corp. of Victoria	2.250%	10/29/21	AUD	10,000		7,066
	Treasury Corp. of Victoria	2.500%	10/22/29	AUD	17,000		12,721
	Treasury Corp. of Victoria	3.000%	10/20/28	AUD	25,620		19,932
	Treasury Corp. of Victoria	4.250%	12/20/32	AUD	20,500		18,282
	Treasury Corp. of Victoria	5.500%	12/17/24	AUD	14,000		11,744
	Treasury Corp. of Victoria	5.500%	11/17/26	AUD	45,800		40,585
	Treasury Corp. of Victoria	6.000%	10/17/22	AUD	32,000		25,266
	Western Australian Treasury Corp.	2.500%	7/23/24	AUD	43,000		31,468
	Western Australian Treasury Corp.	2.750%	10/20/22	AUD	45,000		32,559
	Western Australian Treasury Corp.	2.750%	7/24/29	AUD	5,000		3,800
	Western Australian Treasury Corp.	3.000%	10/21/26	AUD	35,000		26,757
	Western Australian Treasury Corp.	3.000%	10/21/27	AUD	10,000		7,691
	Western Australian Treasury Corp.	3.250%	7/20/28	AUD	23,000		18,087
	Western Australian Treasury Corp.	5.000%	7/23/25	AUD	12,000		9,996
	Western Australian Treasury Corp.	6.000%	10/16/23	AUD	10,000		8,202
							2,832,945
Total Australia (Cost $3,657,300)							3,667,907

12

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Austria (1.4%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.1%)
	Erste Group Bank AG	0.750%	2/5/25	EUR	2,500		2,932
	Erste Group Bank AG	3.500%	2/8/22	EUR	1,500		1,818
	Erste Group Bank AG	4.000%	1/20/21	EUR	2,000		2,349
	Hypo Tirol Bank AG	0.500%	2/11/21	EUR	1,000		1,125
	Hypoe NOE Landesbank fuer Niederoesterreich und Wien AG	3.000%	5/9/22	EUR	2,000		2,414
	KA Finanz AG	1.625%	2/19/21	EUR	2,000		2,286
	Raiffeisen-Landesbank Steiermark AG	0.625%	1/20/23	EUR	3,700		4,245
	Raiffeisen-Landesbank Steiermark AG	2.375%	6/14/28	EUR	300		403
	Raiffeisenlandesbank Niederoesterreich-Wien AG	0.625%	3/3/25	EUR	300		350
	Raiffeisenlandesbank Niederoesterreich-Wien AG	0.875%	1/24/28	EUR	3,000		3,596
	Raiffeisenlandesbank Niederoesterreich-Wien AG	2.125%	9/12/22	EUR	3,920		4,681
	UniCredit Bank Austria AG	0.250%	6/4/27	EUR	10,000		11,411
	UniCredit Bank Austria AG	0.750%	2/25/25	EUR	500		585
	UniCredit Bank Austria AG	1.375%	5/26/21	EUR	5,000		5,724
	UniCredit Bank Austria AG	2.375%	1/22/24	EUR	5,100		6,317
	UniCredit Bank Austria AG	4.125%	2/24/21	EUR	2,000		2,360
							52,596
Corporate Bonds (0.1%)
	BAWAG PSK Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse AG	0.375%	9/3/27	EUR	7,000		7,502
	Borealis AG	1.750%	12/10/25	EUR	300		358
	Erste Group Bank AG	0.625%	1/19/23	EUR	4,200		4,826
	Erste Group Bank AG	0.625%	4/17/26	EUR	15,000		17,563
	Erste Group Bank AG	0.750%	1/17/28	EUR	16,100		19,133
	Erste Group Bank AG	0.875%	5/15/34	EUR	10,000		12,082
	Erste Group Bank AG	7.125%	10/10/22	EUR	1,700		2,273
	JAB Holdings BV	1.250%	5/22/24	EUR	10,100		11,791
	JAB Holdings BV	1.750%	6/25/26	EUR	14,000		16,719
	JAB Holdings BV	2.125%	9/16/22	EUR	3,000		3,543
	JAB Holdings BV	2.500%	6/25/29	EUR	11,300		14,213
	OMV AG	0.750%	12/4/23	EUR	2,500		2,868
	OMV AG	1.000%	12/14/26	EUR	3,450		4,060
	OMV AG	1.875%	12/4/28	EUR	2,200		2,769
	OMV AG	2.625%	9/27/22	EUR	200		240
	OMV AG	3.500%	9/27/27	EUR	2,900		4,044
	OMV AG	4.250%	10/12/21	EUR	1,100		1,331
1	OMV AG	5.250%	12/29/49	EUR	1,600		1,963
1	OMV AG	6.250%	12/29/49	EUR	3,300		4,684
	Raiffeisen-Landesbank Steiermark AG	1.375%	5/11/33	EUR	5,000		6,398
	Raiffeisenlandesbank Niederoesterreich-Wien AG	0.875%	1/30/29	EUR	12,100		14,542
	Telekom Finanzmanagement GmbH	3.125%	12/3/21	EUR	5,000		5,939
	Telekom Finanzmanagement GmbH	4.000%	4/4/22	EUR	500		612
1	UNIQA Insurance Group AG	6.000%	7/27/46	EUR	3,200		4,452
1	UNIQA Insurance Group AG	6.875%	7/31/43	EUR	1,200		1,602
1	Vienna Insurance Group AG Wiener Versicherung Gruppe	5.500%	10/9/43	EUR	1,200		1,581
							167,088

13

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Sovereign Bonds (1.2%)
3	Autobahnen- Und Schnellstrassen-Finanzierungs AG	0.100%	7/9/29	EUR	9,000		10,176
3	Autobahnen- Und Schnellstrassen-Finanzierungs AG	0.250%	10/18/24	EUR	27,000		31,074
3	Autobahnen- Und Schnellstrassen-Finanzierungs-AG	1.375%	4/9/21	EUR	17,000		19,482
3	Autobahnen- Und Schnellstrassen-Finanzierungs-AG	2.750%	6/11/32	EUR	500		732
3	Autobahnen- Und Schnellstrassen-Finanzierungs-AG	2.750%	6/20/33	EUR	1,200		1,781
3	Autobahnen- Und Schnellstrassen-Finanzierungs-AG	3.375%	9/22/25	EUR	2,000		2,718
3	Hypo Alpe-Adria-Bank International AG	2.375%	12/13/22	EUR	3,000		3,595
3	Kaerntner Ausgleichszahlungs-Fonds	0.000%	1/14/32	EUR	40,000		43,163
3	OeBB Infrastruktur AG	1.000%	11/18/24	EUR	7,000		8,340
3	OeBB Infrastruktur AG	2.250%	7/4/23	EUR	10,000		12,257
3	OeBB Infrastruktur AG	2.250%	5/28/29	EUR	3,000		4,062
3	OeBB Infrastruktur AG	3.375%	5/18/32	EUR	7,000		10,829
3	OeBB Infrastruktur AG	3.500%	10/19/26	EUR	1,800		2,528
3	OeBB Infrastruktur AG	3.625%	7/13/21	EUR	1,000		1,193
3	OeBB-Infrastruktur AG	3.000%	10/24/33	EUR	150		229
3	OeBB-Infrastruktur AG	3.875%	6/30/25	EUR	10,000		13,817
3	Oesterreichische Kontrollbank AG	0.750%	3/7/22	GBP	1,500		1,942
3	Oesterreichische Kontrollbank AG	2.625%	11/22/24	CHF	30,610		35,999
3	Oesterreichische Kontrollbank AG	2.875%	2/25/30	CHF	4,500		6,025
3	Oesterreichische Kontrollbank AG	3.200%	8/25/25	AUD	1,500		1,118
2	Republic of Austria	0.000%	9/20/22	EUR	101,250		114,907
2	Republic of Austria	0.000%	7/15/23	EUR	75,000		85,357
2	Republic of Austria	0.000%	7/15/24	EUR	20,000		22,820
2	Republic of Austria	0.500%	4/20/27	EUR	41,000		48,481
2	Republic of Austria	0.500%	2/20/29	EUR	102,876		121,900
2	Republic of Austria	0.750%	10/20/26	EUR	122,200		146,848
2	Republic of Austria	0.750%	2/20/28	EUR	75,000		90,615
2	Republic of Austria	1.200%	10/20/25	EUR	31,000		37,963
2	Republic of Austria	1.500%	2/20/47	EUR	31,800		45,244
2	Republic of Austria	1.500%	11/2/86	EUR	26,898		41,008
2	Republic of Austria	1.650%	10/21/24	EUR	66,900		82,565
2	Republic of Austria	1.750%	10/20/23	EUR	50,930		62,036
2	Republic of Austria	2.100%	9/20/17	EUR	24,067		46,493
2	Republic of Austria	2.400%	5/23/34	EUR	47,605		70,687
2	Republic of Austria	3.150%	6/20/44	EUR	40,245		74,751
2	Republic of Austria	3.400%	11/22/22	EUR	30,300		37,946
2	Republic of Austria	3.500%	9/15/21	EUR	40,435		48,570
2	Republic of Austria	3.650%	4/20/22	EUR	53,160		65,546
2	Republic of Austria	3.800%	1/26/62	EUR	11,100		27,214
2	Republic of Austria	4.150%	3/15/37	EUR	90,565		169,864
2	Republic of Austria	4.850%	3/15/26	EUR	45,250		67,522
	Republic of Austria	6.250%	7/15/27	EUR	2,080		3,505
							1,722,902
Total Austria (Cost $1,847,302)							1,942,586

14

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Belgium (2.3%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.1%)
	Belfius Bank SA/NV	0.125%	9/14/26	EUR	10,000		11,343
	Belfius Bank SA/NV	0.625%	10/14/21	EUR	29,700		33,767
	Belfius Bank SA/NV	0.750%	2/10/25	EUR	200		235
	Belfius Bank SA/NV	1.750%	6/24/24	EUR	600		732
	Belfius Bank SA/NV	2.125%	1/30/23	EUR	3,400		4,095
	KBC Bank NV	0.450%	1/22/22	EUR	5,000		5,678
							55,850
Corporate Bonds (0.3%)
	Anheuser-Busch InBev Finance Inc.	2.600%	5/15/24	CAD	6,000		4,571
	Anheuser-Busch InBev Finance Inc.	3.375%	1/25/23	CAD	10,000		7,820
	Anheuser-Busch InBev Finance Inc.	4.320%	5/15/47	CAD	3,000		2,405
	Anheuser-Busch InBev SA/NV	0.875%	3/17/22	EUR	21,200		24,151
	Anheuser-Busch InBev SA/NV	1.150%	1/22/27	EUR	10,000		11,835
	Anheuser-Busch InBev SA/NV	1.500%	3/17/25	EUR	6,320		7,574
	Anheuser-Busch InBev SA/NV	1.500%	4/18/30	EUR	900		1,094
	Anheuser-Busch InBev SA/NV	1.650%	3/28/31	EUR	20,700		25,465
	Anheuser-Busch InBev SA/NV	2.000%	3/17/28	EUR	13,900		17,518
	Anheuser-Busch InBev SA/NV	2.000%	1/23/35	EUR	12,000		15,301
	Anheuser-Busch InBev SA/NV	2.700%	3/31/26	EUR	200		259
	Anheuser-Busch InBev SA/NV	2.750%	3/17/36	EUR	21,250		29,589
	Anheuser-Busch InBev SA/NV	2.850%	5/25/37	GBP	10,000		13,765
	Anheuser-Busch InBev SA/NV	2.875%	9/25/24	EUR	4,500		5,721
	Anheuser-Busch InBev SA/NV	3.250%	1/24/33	EUR	5,100		7,449
	Anheuser-Busch InBev SA/NV	4.000%	6/2/21	EUR	5,100		6,063
	Anheuser-Busch InBev SA/NV	4.000%	9/24/25	GBP	11,200		16,637
	Anheuser-Busch InBev SA/NV	9.750%	7/30/24	GBP	1,900		3,402
	Argenta Spaarbank NV	1.000%	2/6/24	EUR	8,000		9,224
1	Argenta Spaarbank NV	3.875%	5/24/26	EUR	24,500		28,571
	Belfius Bank SA/NV	0.000%	8/28/26	EUR	5,000		5,466
	Belfius Bank SA/NV	0.750%	9/12/22	EUR	4,900		5,576
	Belfius Bank SA/NV	1.000%	10/26/24	EUR	10,000		11,552
	Belfius Bank SA/NV	3.125%	5/11/26	EUR	1,800		2,291
	BNP Paribas Fortis SA	0.625%	10/4/25	EUR	500		584
	BNP Paribas Fortis SA	0.875%	3/22/28	EUR	10,000		11,964
	Brussels Airport Co. NV/SA	1.000%	5/3/24	EUR	16,300		18,827
	Elia System Operator SA/NV	1.375%	5/27/24	EUR	100		118
	Elia System Operator SA/NV	1.500%	9/5/28	EUR	2,500		3,034
1	Elia System Operator SA/NV	2.750%	12/31/49	EUR	500		586
	Elia System Operator SA/NV	3.000%	4/7/29	EUR	400		548
	Elia System Operator SA/NV	3.250%	4/4/28	EUR	300		413
	Ethias SA	5.000%	1/14/26	EUR	8,800		11,581
	Euroclear Bank SA/NV	0.500%	7/10/23	EUR	12,500		14,184
	Euroclear Investments SA	1.125%	12/7/26	EUR	6,000		7,094
	FBG Finance Pty Ltd.	3.250%	9/6/22	AUD	12,550		9,023
	FBG Finance Pty Ltd.	3.750%	9/6/24	AUD	10,000		7,508
	FBG Finance Pty Ltd.	4.100%	9/6/27	AUD	2,420		1,879
	KBC Bank NV	0.375%	9/1/22	EUR	32,000		36,426
	KBC Bank NV	0.750%	10/24/27	EUR	7,300		8,663
	KBC Group NV	0.625%	4/10/25	EUR	5,000		5,681
	KBC Group NV	0.750%	10/18/23	EUR	4,200		4,793
	KBC Group NV	1.000%	4/26/21	EUR	200		227
	KBC Group NV	1.125%	1/25/24	EUR	11,500		13,342

15

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Solvay SA	1.625%	12/2/22	EUR	8,300		9,666
	Solvay SA	2.750%	12/2/27	EUR	700		917
							430,357
Sovereign Bonds (1.9%)
4	Dexia Credit Local SA	0.200%	3/16/21	EUR	5,000		5,621
	Dexia Credit Local SA	0.500%	1/17/25	EUR	5,000		5,774
4	Dexia Credit Local SA	0.625%	1/21/22	EUR	16,500		18,791
4	Dexia Credit Local SA	0.625%	2/3/24	EUR	63,000		72,855
4	Dexia Credit Local SA	0.750%	1/25/23	EUR	28,000		32,307
4	Dexia Credit Local SA	0.875%	9/7/21	GBP	5,600		7,248
4	Dexia Credit Local SA	1.000%	10/18/27	EUR	200		241
4	Dexia Credit Local SA	1.250%	11/26/24	EUR	17,200		20,576
4	Dexia Credit Local SA	2.125%	2/12/25	GBP	3,000		4,097
	Flemish Community	0.375%	10/13/26	EUR	5,000		5,757
	Flemish Community	1.000%	10/13/36	EUR	10,400		12,608
	Flemish Community	1.500%	7/12/38	EUR	3,000		3,912
	Flemish Community	1.500%	4/11/44	EUR	3,300		4,294
	Flemish Community	1.875%	6/2/42	EUR	3,500		4,858
	FLUVIUS System Operator CVBA	1.750%	12/4/26	EUR	6,000		7,347
	FLUVIUS System Operator CVBA	2.875%	10/9/23	EUR	3,000		3,693
	FLUVIUS System Operator CVBA	4.500%	11/8/21	EUR	1,500		1,822
2	Kingdom of Belgium	0.200%	10/22/23	EUR	31,500		36,159
2	Kingdom of Belgium	0.500%	10/22/24	EUR	52,000		60,723
2	Kingdom of Belgium	0.800%	6/22/25	EUR	137,510		163,786
2	Kingdom of Belgium	0.800%	6/22/27	EUR	128,800		155,303
2	Kingdom of Belgium	0.800%	6/22/28	EUR	6,741		8,162
2	Kingdom of Belgium	0.900%	6/22/29	EUR	127,231		155,766
2	Kingdom of Belgium	1.000%	6/22/26	EUR	197,864		240,319
2	Kingdom of Belgium	1.000%	6/22/31	EUR	107,200		133,166
	Kingdom of Belgium	1.250%	4/22/33	EUR	30,000		38,588
2	Kingdom of Belgium	1.450%	6/22/37	EUR	17,220		22,818
2	Kingdom of Belgium	1.600%	6/22/47	EUR	51,225		71,179
2	Kingdom of Belgium	1.700%	6/22/50	EUR	47,723		67,503
2	Kingdom of Belgium	1.900%	6/22/38	EUR	111,642		158,486
2	Kingdom of Belgium	2.150%	6/22/66	EUR	48,500		79,018
	Kingdom of Belgium	2.250%	6/22/23	EUR	69,990		86,172
2	Kingdom of Belgium	2.250%	6/22/57	EUR	10,600		17,152
2	Kingdom of Belgium	2.600%	6/22/24	EUR	80,380		102,605
2	Kingdom of Belgium	3.000%	6/22/34	EUR	101,770		160,261
2	Kingdom of Belgium	3.750%	9/28/20	EUR	72,220		83,725
	Kingdom of Belgium	3.750%	6/22/45	EUR	56,445		110,885
	Kingdom of Belgium	4.000%	3/28/22	EUR	29,315		36,365
	Kingdom of Belgium	4.000%	3/28/32	EUR	40,320		67,103
2	Kingdom of Belgium	4.250%	9/28/21	EUR	137,475		167,699
2	Kingdom of Belgium	4.250%	9/28/22	EUR	82,650		105,316
2	Kingdom of Belgium	4.250%	3/28/41	EUR	76,430		150,545
2	Kingdom of Belgium	4.500%	3/28/26	EUR	7,400		10,843
2	Kingdom of Belgium	5.000%	3/28/35	EUR	4,430		8,520
	Kingdom of Belgium	5.500%	3/28/28	EUR	1,005		1,667
	Proximus SADP	2.375%	4/4/24	EUR	3,100		3,813
							2,715,448
Total Belgium (Cost $3,026,235)							3,201,655

16

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Brazil (0.0%)
Corporate Bond (0.0%)
	Vale SA	3.750%	1/10/23	EUR	5,000		6,047
Total Brazil (Cost $5,551)							6,047
Bulgaria (0.0%)
Sovereign Bonds (0.0%)
	Republic of Bulgaria	1.875%	3/21/23	EUR	6,000		7,136
	Republic of Bulgaria	2.000%	3/26/22	EUR	3,000		3,521
	Republic of Bulgaria	2.625%	3/26/27	EUR	3,000		3,988
	Republic of Bulgaria	2.950%	9/3/24	EUR	800		1,022
	Republic of Bulgaria	3.000%	3/21/28	EUR	25,000		34,675
	Republic of Bulgaria	3.125%	3/26/35	EUR	5,000		7,340
Total Bulgaria (Cost $48,073)							57,682
Canada (5.9%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.1%)
	Bank of Montreal	0.100%	10/20/23	EUR	10,000		11,305
	Bank of Montreal	0.125%	4/19/21	EUR	200		225
	Bank of Nova Scotia	0.125%	1/13/22	EUR	1,100		1,239
	Bank of Nova Scotia	0.250%	1/11/24	EUR	10,000		11,383
	Bank of Nova Scotia	0.750%	9/14/21	GBP	1,500		1,933
	Bank of Nova Scotia	0.750%	9/17/21	EUR	10,900		12,408
	Canadian Imperial Bank of Commerce	0.000%	7/25/22	EUR	15,000		16,865
	National Bank of Canada	0.000%	9/29/23	EUR	4,600		5,182
	National Bank of Canada	0.375%	1/15/24	EUR	5,000		5,720
	National Bank of Canada	0.500%	1/26/22	EUR	18,900		21,468
	National Bank of Canada	1.500%	3/25/21	EUR	5,000		5,720
	Royal Bank of Canada	0.125%	3/11/21	EUR	4,000		4,490
	Royal Bank of Canada	0.875%	6/17/22	EUR	7,000		8,053
	Toronto-Dominion Bank	0.250%	4/27/22	EUR	5,000		5,657
	Toronto-Dominion Bank	0.375%	1/12/21	EUR	10,000		11,248
	Toronto-Dominion Bank	0.375%	4/27/23	EUR	21,000		23,942
	Toronto-Dominion Bank	0.625%	6/6/25	EUR	14,000		16,305
	Toronto-Dominion Bank	0.750%	10/29/21	EUR	6,000		6,838
							169,981
Corporate Bonds (1.4%)
	407 International Inc.	2.430%	5/4/27	CAD	2,000		1,538
	407 International Inc.	3.600%	5/21/47	CAD	6,875		5,757
	407 International Inc.	3.830%	5/11/46	CAD	10,000		8,666
	407 International Inc.	4.190%	4/25/42	CAD	5,500		4,948
	407 International Inc.	4.300%	5/26/21	CAD	1,490		1,165
	407 International Inc.	4.450%	11/15/41	CAD	5,000		4,644
	407 International Inc.	5.750%	2/14/36	CAD	1,995		2,028
	55 Ontario School Board Trust	5.900%	6/2/33	CAD	4,335		4,548
	Aeroports de Montreal	5.170%	9/17/35	CAD	3,625		3,601
	Aeroports de Montreal	5.670%	10/16/37	CAD	2,000		2,128
	AIMCo Realty Investors LP	2.266%	6/26/24	CAD	5,000		3,806
	AIMCo Realty Investors LP	2.712%	6/1/29	CAD	2,000		1,546
	AIMCo Realty Investors LP	3.367%	6/1/27	CAD	1,885		1,527
	Alberta Powerline LP	4.065%	12/1/53	CAD	5,000		4,344
	Alberta Powerline LP	4.065%	3/1/54	CAD	488		424
	Alectra Inc.	2.488%	5/17/27	CAD	11,000		8,479
	Alectra Inc.	3.458%	4/12/49	CAD	2,000		1,647

17

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
2	Algonquin Power Co.	4.090%	2/17/27	CAD	800		646
	Algonquin Power Co.	4.600%	1/29/29	CAD	2,266		1,885
	Alimentation Couche-Tard Inc.	1.875%	5/6/26	EUR	100		121
	Alimentation Couche-Tard Inc.	3.056%	7/26/24	CAD	9,990		7,710
	Alimentation Couche-Tard Inc.	3.600%	6/2/25	CAD	3,900		3,075
	Alliance Pipeline LP	6.765%	12/31/25	CAD	35		30
	Allied Properties REIT	3.636%	4/21/25	CAD	10,000		7,872
	AltaGas Canada Inc.	4.260%	12/5/28	CAD	1,497		1,260
	AltaGas Ltd.	3.840%	1/15/25	CAD	11,165		8,831
	AltaGas Ltd.	4.500%	8/15/44	CAD	1,757		1,361
	AltaGas Ltd.	4.990%	10/4/47	CAD	770		643
	AltaLink LP	3.399%	6/6/24	CAD	10,000		8,001
	AltaLink LP	3.668%	11/6/23	CAD	200		161
	AltaLink LP	3.717%	12/3/46	CAD	4,000		3,462
	AltaLink LP	3.990%	6/30/42	CAD	2,925		2,599
	AltaLink LP	4.872%	11/15/40	CAD	5,000		4,930
	AltaLink LP	4.922%	9/17/43	CAD	3,000		3,041
1	Atco Ltd.	5.500%	11/1/78	CAD	1,021		843
	Bank of Montreal	0.050%	12/30/22	CHF	7,000		7,181
	Bank of Montreal	0.200%	1/26/23	EUR	7,600		8,605
	Bank of Montreal	1.610%	10/28/21	CAD	10,000		7,528
	Bank of Montreal	1.625%	6/21/22	GBP	1,100		1,450
	Bank of Montreal	2.120%	3/16/22	CAD	15,300		11,625
	Bank of Montreal	2.270%	7/11/22	CAD	22,000		16,775
	Bank of Montreal	2.280%	7/29/24	CAD	11,900		8,984
1	Bank of Montreal	2.570%	6/1/27	CAD	5,000		3,811
	Bank of Montreal	2.700%	9/11/24	CAD	14,036		10,913
	Bank of Montreal	2.700%	12/9/26	CAD	10,000		7,816
	Bank of Montreal	2.850%	3/6/24	CAD	7,000		5,418
	Bank of Montreal	2.890%	6/20/23	CAD	12,000		9,348
	Bank of Montreal	3.190%	3/1/28	CAD	10,000		8,104
	Bank of Montreal	3.200%	9/7/23	AUD	800		583
	Bank of Montreal	3.250%	10/6/22	AUD	1,900		1,373
1	Bank of Montreal	3.320%	6/1/26	CAD	10,500		8,101
1	Bank of Montreal	3.340%	12/8/25	CAD	10,750		8,259
	Bank of Montreal	3.400%	4/23/21	CAD	3,000		2,324
	Bank of Montreal	4.609%	9/10/25	CAD	5,000		4,293
	Bank of Nova Scotia	1.250%	6/8/22	GBP	500		652
	Bank of Nova Scotia	1.900%	12/2/21	CAD	10,000		7,567
	Bank of Nova Scotia	2.360%	11/8/22	CAD	35,000		26,758
1	Bank of Nova Scotia	2.580%	3/30/27	CAD	4,550		3,469
	Bank of Nova Scotia	2.620%	12/2/26	CAD	15,000		11,667
	Bank of Nova Scotia	2.873%	6/4/21	CAD	3,150		2,423
	Bank of Nova Scotia	2.980%	4/17/23	CAD	9,965		7,775
	Bank of Nova Scotia	3.100%	2/2/28	CAD	25,000		20,146
	Bank of Nova Scotia	3.270%	1/11/21	CAD	5,000		3,851
1	Bank of Nova Scotia	3.367%	12/8/25	CAD	7,000		5,379
1	Bank of Nova Scotia	3.890%	1/18/29	CAD	4,855		3,848
	Bankers Hall LP	4.377%	11/20/23	CAD	91		71
	bcIMC Realty Corp.	2.840%	6/3/25	CAD	7,001		5,476
	Bell Canada Inc.	2.900%	8/12/26	CAD	3,000		2,295
	Bell Canada Inc.	3.000%	10/3/22	CAD	5,200		4,027
	Bell Canada Inc.	3.150%	9/29/21	CAD	20,000		15,448
	Bell Canada Inc.	3.350%	3/22/23	CAD	15,000		11,722

18

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Bell Canada Inc.	3.350%	3/12/25	CAD	2,200		1,728
	Bell Canada Inc.	3.550%	3/2/26	CAD	3,000		2,379
	Bell Canada Inc.	3.800%	8/21/28	CAD	3,000		2,421
	Bell Canada Inc.	4.350%	12/18/45	CAD	9,150		7,484
	Bell Canada Inc.	4.450%	2/27/47	CAD	8,098		6,742
	Bell Canada Inc.	4.750%	9/29/44	CAD	3,500		3,024
	Bell Canada Inc.	7.850%	4/2/31	CAD	5,000		5,356
	Bow Centre Street LP	3.797%	6/13/23	CAD	1,564		1,196
	Bridging North America GP	4.341%	8/31/53	CAD	2,178		1,890
	British Columbia Ferry Services Inc.	4.702%	10/23/43	CAD	12,495		12,380
	Brookfield Asset Management Inc.	3.800%	3/16/27	CAD	4,235		3,366
	Brookfield Asset Management Inc.	4.540%	3/31/23	CAD	11,875		9,608
	Brookfield Asset Management Inc.	4.820%	1/28/26	CAD	21,000		17,563
	Brookfield Asset Management Inc.	5.040%	3/8/24	CAD	1,500		1,242
	Brookfield Infrastructure Finance ULC	3.315%	2/22/24	CAD	5,000		3,871
	Brookfield Infrastructure Finance ULC	4.193%	9/11/28	CAD	4,248		3,403
	Brookfield Renewable Partners ULC	3.380%	1/15/30	CAD	5,500		4,185
	Brookfield Renewable Partners ULC	3.752%	6/2/25	CAD	5,301		4,219
	Brookfield Renewable Partners ULC	4.290%	11/5/49	CAD	1,200		918
	Bruce Power LP	2.844%	6/23/21	CAD	3,300		2,528
	Bruce Power LP	3.000%	6/21/24	CAD	2,000		1,547
	Bruce Power LP	3.969%	6/23/26	CAD	5,000		4,038
	Bruce Power LP	4.132%	6/21/33	CAD	2,200		1,780
	Bruce Power LP	4.746%	6/21/49	CAD	3,200		2,701
	Cameco Corp.	4.190%	6/24/24	CAD	3,500		2,751
	Canadian Imperial Bank of Commerce	0.250%	1/24/23	EUR	14,500		16,441
	Canadian Imperial Bank of Commerce	0.375%	5/3/24	EUR	19,000		21,245
	Canadian Imperial Bank of Commerce	0.750%	3/22/23	EUR	10,000		11,448
	Canadian Imperial Bank of Commerce	1.640%	7/12/21	CAD	225		170
	Canadian Imperial Bank of Commerce	1.900%	4/26/21	CAD	14,000		10,612
	Canadian Imperial Bank of Commerce	2.040%	3/21/22	CAD	10,000		7,583
	Canadian Imperial Bank of Commerce	2.300%	7/11/22	CAD	15,000		11,441
	Canadian Imperial Bank of Commerce	2.350%	8/28/24	CAD	8,500		6,504
	Canadian Imperial Bank of Commerce	2.970%	7/11/23	CAD	9,940		7,763
	Canadian Imperial Bank of Commerce	3.290%	1/15/24	CAD	6,500		5,114
	Canadian Imperial Bank of Commerce	3.300%	5/26/25	CAD	15,000		12,036
1	Canadian Imperial Bank of Commerce	3.420%	1/26/26	CAD	20,000		15,392
1	Canadian Imperial Bank of Commerce	3.450%	4/4/28	CAD	8,000		6,230
	Canadian National Railway Co.	2.800%	9/22/25	CAD	4,995		3,924
	Canadian National Railway Co.	3.200%	7/31/28	CAD	2,750		2,215
	Canadian National Railway Co.	3.600%	8/1/47	CAD	9,990		8,343
	Canadian National Railway Co.	3.600%	2/8/49	CAD	180		151
	Canadian Natural Resources Ltd.	3.310%	2/11/22	CAD	20,000		15,479
	Canadian Natural Resources Ltd.	3.550%	6/3/24	CAD	10,000		7,851
	Canadian Natural Resources Ltd.	4.850%	5/30/47	CAD	735		646
	Canadian Pacific Railway Co.	3.150%	3/13/29	CAD	3,134		2,463
	Canadian Pacific Railway Co.	6.450%	11/17/39	CAD	1,750		1,935
	Canadian Tire Corp. Ltd.	3.167%	7/6/23	CAD	8,090		6,294
	Canadian Tire Corp. Ltd.	5.610%	9/4/35	CAD	2,000		1,862
	Canadian Western Bank	2.597%	9/6/24	CAD	4,000		3,018
	Canadian Western Bank	2.788%	9/13/21	CAD	4,700		3,598
	Canadian Western Bank	2.924%	12/15/22	CAD	4,700		3,613
	Capital City Link General Partnership	4.386%	3/31/46	CAD	833		725
1	Capital Desjardins Inc.	4.954%	12/15/26	CAD	3,000		2,402

19

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Capital Power Corp.	4.986%	1/23/26	CAD	3,000		2,440
	Capital Power Corp.	5.276%	11/16/20	CAD	4,650		3,634
	CCL Industries Inc.	3.864%	4/13/28	CAD	1,620		1,303
	Chartwell Retirement Residences	4.211%	4/28/25	CAD	1,000		801
	Choice Properties REIT	3.532%	6/11/29	CAD	7,100		5,501
	Choice Properties REIT	3.546%	1/10/25	CAD	8,000		6,280
	Choice Properties REIT	3.556%	9/9/24	CAD	2,032		1,596
	CI Financial Corp.	2.645%	12/7/20	CAD	5,200		3,958
	CI Financial Corp.	2.775%	11/25/21	CAD	10,000		7,626
1	CIBC Capital Trust	10.250%	6/30/08	CAD	280		255
	Clover LP	4.216%	6/30/34	CAD	1,899		1,525
	Cogeco Communications Inc.	4.175%	5/26/23	CAD	250		198
	Concordia University	6.550%	9/2/42	CAD	3,000		3,616
	Crosslinx Transit Solutions GP	4.651%	9/30/46	CAD	3,133		2,621
	CSS FSCC Partnership	6.915%	7/31/42	CAD	28		29
	CT REIT	3.469%	6/16/27	CAD	1,332		1,040
	CU Inc.	2.963%	9/7/49	CAD	4,500		3,350
	CU Inc.	3.805%	9/10/42	CAD	450		383
	CU Inc.	3.950%	11/23/48	CAD	970		860
	CU Inc.	3.964%	7/27/45	CAD	3,000		2,636
	CU Inc.	4.085%	9/2/44	CAD	5,400		4,814
	CU Inc.	4.211%	10/29/55	CAD	15,000		14,060
	CU Inc.	4.543%	10/24/41	CAD	2,000		1,875
	CU Inc.	4.593%	10/24/61	CAD	125		127
	CU Inc.	4.722%	9/9/43	CAD	3,000		2,905
	CU Inc.	4.801%	11/22/21	CAD	5,500		4,404
	Dollarama Inc.	3.550%	11/6/23	CAD	4,470		3,504
	Edmonton Regional Airports Authority	7.214%	11/1/30	CAD	963		917
	Emera Inc.	2.900%	6/16/23	CAD	28,000		21,579
1	Empire Life Insurance Co.	3.383%	12/16/26	CAD	1,000		772
1	Empire Life Insurance Co.	3.664%	3/15/28	CAD	1,000		783
	Enbridge Gas Distribution Inc.	2.500%	8/5/26	CAD	2,000		1,537
	Enbridge Gas Distribution Inc.	3.150%	8/22/24	CAD	6,480		5,134
	Enbridge Gas Distribution Inc.	3.310%	9/11/25	CAD	3,240		2,603
	Enbridge Gas Distribution Inc.	4.000%	8/22/44	CAD	2,000		1,759
	Enbridge Gas Distribution Inc.	4.040%	11/23/20	CAD	350		271
	Enbridge Gas Distribution Inc.	4.950%	11/22/50	CAD	1,000		1,041
	Enbridge Gas Inc.	3.010%	8/9/49	CAD	3,000		2,253
	Enbridge Gas Inc.	3.510%	11/29/47	CAD	4,696		3,856
	Enbridge Inc.	3.160%	3/11/21	CAD	1,839		1,412
	Enbridge Inc.	3.190%	12/5/22	CAD	15,070		11,700
	Enbridge Inc.	3.200%	6/8/27	CAD	2,400		1,862
	Enbridge Inc.	3.950%	11/19/24	CAD	3,000		2,411
	Enbridge Inc.	4.240%	8/27/42	CAD	3,360		2,632
	Enbridge Inc.	4.570%	3/11/44	CAD	4,600		3,783
	Enbridge Inc.	4.870%	11/21/44	CAD	4,200		3,596
	Enbridge Pipelines Inc.	3.450%	9/29/25	CAD	5,240		4,182
	Enbridge Pipelines Inc.	3.790%	8/17/23	CAD	4,800		3,829
	Enbridge Pipelines Inc.	4.130%	8/9/46	CAD	5,000		4,069
	Enbridge Pipelines Inc.	4.330%	2/22/49	CAD	1,500		1,264
	Enbridge Pipelines Inc.	4.550%	8/17/43	CAD	1,000		859
	Enbridge Pipelines Inc.	4.550%	9/29/45	CAD	5,600		4,843
	EPCOR Utilities Inc.	3.554%	11/27/47	CAD	7,000		5,784
	EPCOR Utilities Inc.	4.550%	2/28/42	CAD	2,985		2,804

20

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Fairfax Financial Holdings Ltd.	4.230%	6/14/29	CAD	750		581
	Fairfax Financial Holdings Ltd.	4.250%	12/6/27	CAD	2,465		1,932
	Fairfax Financial Holdings Ltd.	4.500%	3/22/23	CAD	2,500		2,011
	Fairfax Financial Holdings Ltd.	4.700%	12/16/26	CAD	5,000		4,051
	Fairfax Financial Holdings Ltd.	4.950%	3/3/25	CAD	4,060		3,352
	Fairfax Financial Holdings Ltd.	5.840%	10/14/22	CAD	2,800		2,321
	Federated Co-Operatives Ltd.	3.917%	6/17/25	CAD	594		469
	Federation des Caisses Desjardins du Quebec	2.091%	1/17/22	CAD	2,590		1,967
	Federation des Caisses Desjardins du Quebec	3.056%	9/11/23	CAD	5,000		3,920
	First Capital Realty Inc.	4.323%	7/31/25	CAD	10,000		8,033
	First Capital Realty Inc.	4.790%	8/30/24	CAD	4,985		4,079
	Fortis Inc.	2.850%	12/12/23	CAD	2,500		1,936
	FortisAlberta Inc.	3.672%	9/9/47	CAD	4,188		3,529
	FortisBC Energy Inc.	6.050%	2/15/38	CAD	10,000		10,860
	FortisBC Energy Inc.	6.500%	5/1/34	CAD	10,000		10,837
	FortisBC Inc.	4.000%	10/28/44	CAD	2,100		1,837
	Genworth MI Canada Inc.	4.242%	4/1/24	CAD	1,024		820
	Gibson Energy Inc.	3.600%	9/17/29	CAD	2,800		2,142
	Great-West Lifeco Inc.	1.750%	12/7/26	EUR	500		610
	Great-West Lifeco Inc.	5.998%	11/16/39	CAD	11,000		11,849
	Great-West Lifeco Inc.	6.670%	3/21/33	CAD	1,990		2,125
	Greater Toronto Airports Authority	2.730%	4/3/29	CAD	4,300		3,375
	Greater Toronto Airports Authority	2.750%	10/17/39	CAD	7,300		5,523
2	Greater Toronto Airports Authority	4.530%	12/2/41	CAD	5,000		4,867
	Greater Toronto Airports Authority	5.300%	2/25/41	CAD	3,100		3,287
	H&R REIT	3.369%	1/30/24	CAD	1,513		1,169
	H&R REIT	3.416%	1/23/23	CAD	5,307		4,108
	Halifax International Airport Authority	5.503%	7/19/41	CAD	204		217
	Honda Canada Finance Inc.	1.823%	12/7/21	CAD	16,173		12,184
	Honda Canada Finance Inc.	3.444%	5/23/25	CAD	4,300		3,416
	Hospital for Sick Children	3.416%	12/7/57	CAD	2,727		2,331
	Hospital Infrastructure Partners NOH Partnership	5.439%	1/31/45	CAD	5,433		5,108
	HSBC Bank Canada	2.170%	6/29/22	CAD	10,500		7,948
	HSBC Bank Canada	2.449%	1/29/21	CAD	130		99
	HSBC Bank Canada	2.542%	1/31/23	CAD	9,980		7,625
	HSBC Bank Canada	2.908%	9/29/21	CAD	3,000		2,308
	HSBC Bank Canada	3.245%	9/15/23	CAD	10,000		7,832
	Husky Energy Inc.	3.550%	3/12/25	CAD	800		625
	Husky Energy Inc.	3.600%	3/10/27	CAD	6,127		4,780
	Hydro One Inc.	1.840%	2/24/21	CAD	6,360		4,815
	Hydro One Inc.	2.570%	6/25/21	CAD	2,045		1,566
	Hydro One Inc.	2.770%	2/24/26	CAD	9,800		7,664
	Hydro One Inc.	2.970%	6/26/25	CAD	245		193
	Hydro One Inc.	3.020%	4/5/29	CAD	3,800		3,006
	Hydro One Inc.	3.200%	1/13/22	CAD	330		256
	Hydro One Inc.	3.630%	6/25/49	CAD	10,385		8,593
	Hydro One Inc.	3.720%	11/18/47	CAD	1,441		1,207
	Hydro One Inc.	3.790%	7/31/62	CAD	2,000		1,714
	Hydro One Inc.	3.910%	2/23/46	CAD	3,200		2,751
	Hydro One Inc.	4.390%	9/26/41	CAD	5,115		4,638
	Hydro One Inc.	4.590%	10/9/43	CAD	5,500		5,162

21

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Hydro One Inc.	4.890%	3/13/37	CAD	5,000		4,721
	Hydro One Inc.	5.360%	5/20/36	CAD	1,000		988
	Hydro One Inc.	5.490%	7/16/40	CAD	3,525		3,623
	Hydro One Inc.	6.930%	6/1/32	CAD	1,000		1,073
	Hydro One Inc.	7.350%	6/3/30	CAD	2,000		2,159
	IGM Financial Inc.	4.115%	12/9/47	CAD	6,085		4,915
	IGM Financial Inc.	4.206%	3/21/50	CAD	1,400		1,152
	IGM Financial Inc.	4.560%	1/25/47	CAD	900		777
1	Industrial Alliance Insurance & Financial Services Inc.	3.300%	9/15/28	CAD	5,000		3,912
	InPower BC General Partnership	4.471%	3/31/33	CAD	4,689		3,885
	Intact Financial Corp.	2.850%	6/7/27	CAD	375		288
	Intact Financial Corp.	3.770%	3/2/26	CAD	2,376		1,924
	Intact Financial Corp.	5.160%	6/16/42	CAD	2,980		2,901
	Integrated Team Solutions SJHC Partnership	5.946%	11/30/42	CAD	108		109
	Inter Pipeline Ltd.	2.608%	9/13/23	CAD	5,000		3,797
	Inter Pipeline Ltd.	2.734%	4/18/24	CAD	5,000		3,797
	Inter Pipeline Ltd.	3.173%	3/24/25	CAD	4,950		3,817
	Inter Pipeline Ltd.	3.776%	5/30/22	CAD	2,300		1,803
	Inter Pipeline Ltd.	4.637%	5/30/44	CAD	2,535		2,095
	Ivanhoe Cambridge II Inc.	2.909%	6/27/23	CAD	2,546		1,984
	John Deere Canada Funding Inc.	2.700%	1/17/23	CAD	1,611		1,239
	Keyera Corp.	3.934%	6/21/28	CAD	10,000		7,993
	Kingston Solar LP	3.571%	7/31/35	CAD	25		20
	Laurentian Bank of Canada	3.450%	6/27/23	CAD	5,000		3,901
	Loblaw Cos. Ltd.	4.488%	12/11/28	CAD	8,500		7,200
	Loblaw Cos. Ltd.	4.860%	9/12/23	CAD	7,000		5,746
	Loblaw Cos. Ltd.	5.900%	1/18/36	CAD	1,300		1,256
1	Manufacturers Life Insurance Co.	3.181%	11/22/27	CAD	5,000		3,894
	Manulife Bank of Canada	2.844%	1/12/23	CAD	6,175		4,778
1	Manulife Finance Delaware LP	5.059%	12/15/41	CAD	3,700		3,384
1	Manulife Financial Corp.	3.049%	8/20/29	CAD	5,000		3,882
	McGill University	3.975%	1/29/56	CAD	151		143
	McGill University	6.150%	9/22/42	CAD	60		70
	Metro Inc.	3.390%	12/6/27	CAD	15,000		11,806
	Metro Inc.	4.270%	12/4/47	CAD	2,000		1,650
	Metro Inc.	5.970%	10/15/35	CAD	5,048		4,893
	Morguard Corp.	4.715%	1/25/24	CAD	2,781		2,182
	Mountain View Partners GP	3.974%	3/31/51	CAD	115		96
	National Bank of Canada	0.250%	7/24/23	EUR	2,000		2,273
	National Bank of Canada	0.750%	3/13/25	EUR	9,000		10,538
	National Bank of Canada	1.809%	7/26/21	CAD	5,000		3,782
	National Bank of Canada	1.957%	6/30/22	CAD	12,500		9,453
1	National Bank of Canada	3.183%	2/1/28	CAD	9,945		7,643
	Nissan Canada Financial Services Inc.	2.606%	3/5/21	CAD	9,990		7,602
	North West Redwater Partnership / NWR Financing Co. Ltd.	2.800%	6/1/27	CAD	10,000		7,671
	North West Redwater Partnership / NWR Financing Co. Ltd.	3.200%	7/22/24	CAD	4,000		3,149
	North West Redwater Partnership / NWR Financing Co. Ltd.	3.700%	2/23/43	CAD	4,000		3,184
	North West Redwater Partnership / NWR Financing Co. Ltd.	4.050%	7/22/44	CAD	3,350		2,818

22

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	North West Redwater Partnership / NWR Financing Co. Ltd.	4.150%	6/1/33	CAD	5,500		4,644
	North West Redwater Partnership / NWR Financing Co. Ltd.	4.250%	6/1/29	CAD	250		211
	North West Redwater Partnership / NWR Financing Co. Ltd.	4.350%	1/10/39	CAD	1,500		1,295
	North West Redwater Partnership / NWR Financing Co. Ltd.	4.750%	6/1/37	CAD	5,000		4,514
2	Northern Courier Pipeline LP	3.365%	6/30/42	CAD	3,650		2,833
	Northwestern Hydro Acquisition Co. II LP	3.877%	12/31/36	CAD	2,770		2,239
	Northwestern Hydro Acquisition Co. II LP	3.940%	12/31/38	CAD	2,729		2,247
	Nouvelle Autoroute 30 Financement Inc.	4.114%	3/31/42	CAD	5,724		4,833
	Nova Scotia Power Inc.	3.571%	4/5/49	CAD	1,800		1,465
	Nova Scotia Power Inc.	4.500%	7/20/43	CAD	3,308		3,042
	Nova Scotia Power Inc.	5.610%	6/15/40	CAD	4,300		4,442
	OMERS Realty Corp.	2.858%	2/23/24	CAD	4,985		3,889
	OMERS Realty Corp.	3.328%	11/12/24	CAD	1,374		1,099
	OMERS Realty Corp.	3.331%	6/5/25	CAD	3,000		2,401
	OMERS Realty Corp.	3.358%	6/5/23	CAD	4,000		3,167
	OMERS Realty Corp.	3.628%	6/5/30	CAD	4,380		3,662
	Original Wempi Inc.	4.056%	2/13/24	CAD	2,292		1,802
	Original Wempi Inc.	4.309%	2/13/24	CAD	1,719		1,365
	Ottawa MacDonald-Cartier International Airport Authority	3.933%	6/9/45	CAD	775		648
	Pembina Pipeline Corp.	2.990%	1/22/24	CAD	8,000		6,158
	Pembina Pipeline Corp.	3.310%	2/1/30	CAD	7,400		5,604
	Pembina Pipeline Corp.	3.620%	4/3/29	CAD	3,000		2,344
	Pembina Pipeline Corp.	3.710%	8/11/26	CAD	4,850		3,851
	Pembina Pipeline Corp.	4.240%	6/15/27	CAD	3,000		2,457
	Pembina Pipeline Corp.	4.540%	4/3/49	CAD	1,100		881
	Pembina Pipeline Corp.	4.740%	1/21/47	CAD	700		577
	Pembina Pipeline Corp.	4.750%	4/30/43	CAD	3,000		2,463
	Pembina Pipeline Corp.	4.810%	3/25/44	CAD	9,000		7,458
	Penske Truck Leasing Canada Inc.	2.850%	12/7/22	CAD	1,550		1,188
	Plenary Properties LTAP LP	6.288%	1/31/44	CAD	6,271		6,551
	Power Financial Corp.	6.900%	3/11/33	CAD	1,254		1,307
	Reliance LP	3.750%	3/15/26	CAD	3,775		2,952
	RioCan REIT	2.576%	2/12/25	CAD	4,300		3,233
	RioCan REIT	3.746%	5/30/22	CAD	8,842		6,942
	Rogers Communications Inc.	3.250%	5/1/29	CAD	8,040		6,239
	Rogers Communications Inc.	4.000%	6/6/22	CAD	3,000		2,376
	Rogers Communications Inc.	4.000%	3/13/24	CAD	8,300		6,686
	Rogers Communications Inc.	5.340%	3/22/21	CAD	6,000		4,752
	Rogers Communications Inc.	6.110%	8/25/40	CAD	5,000		4,999
	Rogers Communications Inc.	6.680%	11/4/39	CAD	3,044		3,219
	Royal Bank of Canada	0.050%	6/19/26	EUR	10,000		11,259
	Royal Bank of Canada	0.125%	7/23/24	EUR	3,000		3,333
	Royal Bank of Canada	0.250%	6/28/23	EUR	16,100		18,297
	Royal Bank of Canada	0.250%	1/29/24	EUR	11,000		12,521
	Royal Bank of Canada	0.500%	12/16/20	EUR	5,000		5,629
	Royal Bank of Canada	1.125%	12/22/21	GBP	9,300		12,064
	Royal Bank of Canada	1.583%	9/13/21	CAD	4,700		3,539
	Royal Bank of Canada	1.650%	7/15/21	CAD	37,000		27,918
	Royal Bank of Canada	1.968%	3/2/22	CAD	25,100		19,006

23

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Royal Bank of Canada	2.000%	3/21/22	CAD	4,455		3,375
	Royal Bank of Canada	2.333%	12/5/23	CAD	8,370		6,402
	Royal Bank of Canada	2.352%	7/2/24	CAD	13,800		10,462
	Royal Bank of Canada	2.360%	12/5/22	CAD	15,000		11,468
1	Royal Bank of Canada	2.740%	7/25/29	CAD	10,000		7,571
	Royal Bank of Canada	2.949%	5/1/23	CAD	10,000		7,797
1	Royal Bank of Canada	3.310%	1/20/26	CAD	10,900		8,378
1	Royal Bank of Canada	3.450%	9/29/26	CAD	10,000		7,757
	Royal Office Finance LP	5.209%	11/12/32	CAD	6,715		6,301
	Saputo Inc.	3.603%	8/14/25	CAD	10,000		7,890
1	Scotiabank Capital Trust	5.650%	12/31/56	CAD	3,946		3,793
	SEC LP and Arci Ltd.	5.188%	8/29/33	CAD	2,748		2,273
	Shaw Communications Inc.	4.350%	1/31/24	CAD	10,000		8,078
	Shaw Communications Inc.	4.400%	11/2/28	CAD	2,500		2,074
	Shaw Communications Inc.	5.500%	12/7/20	CAD	3,443		2,704
	Shaw Communications Inc.	6.750%	11/9/39	CAD	7,668		7,738
	SmartCentres REIT	3.834%	12/21/27	CAD	5,000		3,953
	SSL Finance Inc.	4.099%	10/31/45	CAD	3,067		2,587
1	Sun Life Financial Inc.	3.050%	9/19/28	CAD	10,000		7,765
	Sun Life Financial Inc.	4.570%	8/23/21	CAD	3,000		2,375
1	Sun Life Financial Inc.	5.400%	5/29/42	CAD	3,350		3,269
	Suncor Energy Inc.	3.000%	9/14/26	CAD	11,700		9,107
	Suncor Energy Inc.	4.340%	9/13/46	CAD	1,454		1,260
	TCHC Issuer Trust	5.395%	2/22/40	CAD	2,078		2,189
	TELUS Corp.	2.350%	3/28/22	CAD	4,800		3,652
	TELUS Corp.	3.200%	4/5/21	CAD	750		577
	TELUS Corp.	3.300%	5/2/29	CAD	8,000		6,197
	TELUS Corp.	3.350%	4/1/24	CAD	10,700		8,394
	TELUS Corp.	3.625%	3/1/28	CAD	9,600		7,651
	TELUS Corp.	3.750%	1/17/25	CAD	4,460		3,561
	TELUS Corp.	3.750%	3/10/26	CAD	6,894		5,525
	TELUS Corp.	4.400%	4/1/43	CAD	3,000		2,414
	TELUS Corp.	4.400%	1/29/46	CAD	250		202
	TELUS Corp.	4.700%	3/6/48	CAD	2,700		2,291
	TELUS Corp.	4.750%	1/17/45	CAD	1,430		1,213
	TELUS Corp.	4.850%	4/5/44	CAD	9,250		7,937
	Teranet Holdings LP	4.807%	12/16/20	CAD	8,875		6,909
	Teranet Holdings LP	5.754%	12/17/40	CAD	3,395		2,833
	Teranet Holdings LP	6.100%	6/17/41	CAD	400		348
	Thomson Reuters Corp.	3.309%	11/12/21	CAD	2,500		1,935
	THP Partnership	4.394%	10/31/46	CAD	116		101
	TMX Group Ltd.	4.461%	10/3/23	CAD	5,705		4,647
	Toromont Industries Ltd.	3.842%	10/27/27	CAD	6,995		5,667
	Toronto-Dominion Bank	0.100%	7/19/27	EUR	15,000		16,897
	Toronto-Dominion Bank	0.375%	4/25/24	EUR	5,000		5,631
	Toronto-Dominion Bank	0.500%	4/3/24	EUR	8,000		9,207
	Toronto-Dominion Bank	1.000%	12/13/21	GBP	1,000		1,294
	Toronto-Dominion Bank	1.680%	6/8/21	CAD	10,000		7,563
	Toronto-Dominion Bank	1.909%	7/18/23	CAD	3,000		2,261
	Toronto-Dominion Bank	1.994%	3/23/22	CAD	17,500		13,260
	Toronto-Dominion Bank	2.045%	3/8/21	CAD	10,000		7,598
	Toronto-Dominion Bank	2.496%	12/2/24	CAD	15,512		11,833
	Toronto-Dominion Bank	2.621%	12/22/21	CAD	7,250		5,565
	Toronto-Dominion Bank	2.850%	3/8/24	CAD	5,500		4,262

24

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Toronto-Dominion Bank	3.005%	5/30/23	CAD	15,000		11,733
1	Toronto-Dominion Bank	3.060%	1/26/32	CAD	9,800		7,465
1	Toronto-Dominion Bank	3.224%	7/25/29	CAD	10,525		8,151
	Toronto-Dominion Bank	3.226%	7/24/24	CAD	15,450		12,297
1	Toronto-Dominion Bank	3.589%	9/14/28	CAD	8,000		6,292
1	Toronto-Dominion Bank	4.859%	3/4/31	CAD	6,155		5,198
	Toyota Credit Canada Inc.	2.020%	2/28/22	CAD	10,000		7,568
	Toyota Credit Canada Inc.	3.040%	7/12/23	CAD	4,494		3,505
	TransCanada PipeLines Ltd.	3.300%	7/17/25	CAD	3,500		2,765
	TransCanada PipeLines Ltd.	3.390%	3/15/28	CAD	3,000		2,368
	TransCanada PipeLines Ltd.	3.650%	11/15/21	CAD	5,000		3,901
	TransCanada PipeLines Ltd.	3.690%	7/19/23	CAD	5,240		4,160
	TransCanada PipeLines Ltd.	4.180%	7/3/48	CAD	6,000		4,775
	TransCanada PipeLines Ltd.	4.330%	9/16/47	CAD	5,000		4,070
	TransCanada PipeLines Ltd.	4.340%	10/15/49	CAD	7,025		5,734
	TransCanada PipeLines Ltd.	4.350%	6/6/46	CAD	4,000		3,259
	TransCanada PipeLines Ltd.	4.550%	11/15/41	CAD	7,000		5,824
	TransCanada PipeLines Ltd.	6.280%	5/26/28	CAD	4,514		4,252
	TransEd Partners GP	3.951%	9/30/50	CAD	1,858		1,433
	Trillium Health Partners Volunteers	3.702%	12/20/58	CAD	950		855
	Union Gas Ltd.	3.790%	7/10/23	CAD	29,995		24,047
	Union Gas Ltd.	4.200%	6/2/44	CAD	2,400		2,172
	Union Gas Ltd.	4.880%	6/21/41	CAD	3,450		3,354
	University of Toronto	4.251%	12/7/51	CAD	2,500		2,461
	University of Toronto	5.841%	12/15/43	CAD	130		150
	University of Western Ontario	4.798%	5/24/47	CAD	184		192
	Vancouver Airport Authority	7.425%	12/7/26	CAD	15,000		15,267
	Veresen Inc.	3.430%	11/10/21	CAD	3,000		2,326
	Waste Management of Canada Corp.	2.600%	9/23/26	CAD	2,800		2,135
	Westcoast Energy Inc.	3.430%	9/12/24	CAD	6,700		5,309
	Westcoast Energy Inc.	4.791%	10/28/41	CAD	2,214		1,986
	York University	6.480%	3/7/42	CAD	1,725		2,072
							1,942,288
Sovereign Bonds (4.4%)
	Cadillac Fairview Finance Trust	4.310%	1/25/21	CAD	3,650		2,852
	Canada	0.500%	3/1/22	CAD	152,606		113,175
	Canada	0.750%	3/1/21	CAD	95,793		71,924
	Canada	0.750%	9/1/21	CAD	88,250		66,050
	Canada	1.000%	9/1/22	CAD	323,022		241,978
	Canada	1.250%	11/1/21	CAD	7,412		5,597
	Canada	1.500%	8/1/21	CAD	74,047		56,173
	Canada	1.500%	6/1/23	CAD	13,400		10,195
	Canada	1.500%	9/1/24	CAD	257,220		196,033
	Canada	1.750%	5/1/21	CAD	133,921		101,927
	Canada	1.750%	3/1/23	CAD	39,704		30,414
	Canada	2.000%	11/1/20	CAD	60,447		46,044
	Canada	2.000%	9/1/23	CAD	45,786		35,475
	Canada	2.000%	6/1/28	CAD	193,638		153,987
	Canada	2.000%	12/1/51	CAD	20,350		17,082
	Canada	2.250%	2/1/21	CAD	65,792		50,352
	Canada	2.250%	3/1/24	CAD	66,457		52,165
	Canada	2.250%	6/1/29	CAD	172,375		140,641
	Canada	2.500%	6/1/24	CAD	12,130		9,647
	Canada	2.750%	6/1/22	CAD	21,900		17,150

25

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Canada	2.750%	12/1/48	CAD	65,590		63,255
	Canada	2.750%	12/1/64	CAD	42,994		45,029
	Canada	3.500%	12/1/45	CAD	80,673		85,967
	Canada	4.000%	6/1/41	CAD	100,947		110,020
	Canada	5.000%	6/1/37	CAD	71,895		83,162
	Canada	5.750%	6/1/29	CAD	45,134		47,398
	Canada	5.750%	6/1/33	CAD	76,015		87,777
	Canada	8.000%	6/1/23	CAD	1,100		1,024
	Canada	8.000%	6/1/27	CAD	7,000		7,812
	Canada	9.000%	6/1/25	CAD	12,000		12,789
	Canada	10.500%	3/15/21	CAD	15,000		12,743
2	Canada Housing Trust No. 1	1.150%	12/15/21	CAD	75,854		57,057
2	Canada Housing Trust No. 1	1.250%	12/15/20	CAD	49,950		37,737
2,5	Canada Housing Trust No. 1	1.250%	6/15/21	CAD	57,000		42,957
2	Canada Housing Trust No. 1	1.500%	12/15/21	CAD	600		454
2	Canada Housing Trust No. 1	1.750%	6/15/22	CAD	35,000		26,588
2	Canada Housing Trust No. 1	1.800%	12/15/24	CAD	16,840		12,832
2	Canada Housing Trust No. 1	1.900%	9/15/26	CAD	31,875		24,324
2	Canada Housing Trust No. 1	1.950%	12/15/25	CAD	20,000		15,325
2	Canada Housing Trust No. 1	2.100%	9/15/29	CAD	40,000		31,107
2	Canada Housing Trust No. 1	2.250%	12/15/25	CAD	5,225		4,078
2	Canada Housing Trust No. 1	2.350%	6/15/23	CAD	60,265		46,695
2	Canada Housing Trust No. 1	2.350%	9/15/23	CAD	13,940		10,816
2	Canada Housing Trust No. 1	2.350%	6/15/27	CAD	18,500		14,557
2	Canada Housing Trust No. 1	2.350%	3/15/28	CAD	425		336
2	Canada Housing Trust No. 1	2.400%	12/15/22	CAD	78,140		60,498
2	Canada Housing Trust No. 1	2.550%	12/15/23	CAD	55,795		43,722
2	Canada Housing Trust No. 1	2.550%	3/15/25	CAD	29,000		22,895
2	Canada Housing Trust No. 1	2.650%	3/15/22	CAD	71,500		55,451
2	Canada Housing Trust No. 1	2.650%	3/15/28	CAD	77,305		62,500
2	Canada Housing Trust No. 1	2.650%	12/15/28	CAD	10,900		8,851
2	Canada Housing Trust No. 1	2.900%	6/15/24	CAD	81,650		65,097
2	Canada Housing Trust No. 1	3.150%	9/15/23	CAD	21,270		16,979
2	Canada Housing Trust No. 1	3.350%	12/15/20	CAD	26,000		20,090
2	Canada Housing Trust No. 1	3.800%	6/15/21	CAD	56,000		43,939
	Canada Post Corp.	4.360%	7/16/40	CAD	3,650		3,724
	City of Montreal	3.000%	9/1/25	CAD	7,000		5,580
	City of Montreal	3.000%	9/1/27	CAD	5,000		4,006
	City of Montreal	3.150%	9/1/28	CAD	3,050		2,475
	City of Montreal	3.150%	12/1/36	CAD	5,985		4,849
	City of Montreal	3.500%	9/1/23	CAD	7,450		5,986
	City of Montreal	3.500%	9/1/24	CAD	10,000		8,120
	City of Montreal	3.500%	12/1/38	CAD	6,000		5,103
	City of Montreal	4.100%	12/1/34	CAD	3,195		2,885
	City of Montreal Canada	6.000%	6/1/43	CAD	1,100		1,316
	City of Ottawa Ontario	3.100%	7/27/48	CAD	4,276		3,548
	City of Ottawa Ontario	3.250%	11/10/47	CAD	1,780		1,515
	City of Ottawa Ontario	4.600%	7/14/42	CAD	1,900		1,916
	City of Toronto	2.400%	6/7/27	CAD	1,590		1,224
	City of Toronto	2.950%	4/28/35	CAD	6,250		4,946
	City of Toronto	3.200%	8/1/48	CAD	1,820		1,532
	City of Toronto	3.800%	12/13/42	CAD	19,000		17,152
	City of Toronto	3.900%	9/29/23	CAD	4,732		3,855
	City of Toronto	4.150%	3/10/44	CAD	4,930		4,706

26

Total International Bond Index Fund

					Face		Market
	��		Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	City of Toronto	4.700%	6/10/41	CAD	2,000		2,026
	City of Toronto	5.200%	6/1/40	CAD	1,220		1,295
	City of Winnipeg Canada	4.100%	6/1/45	CAD	1,000		948
	City of Winnipeg Canada	4.300%	11/15/51	CAD	4,158		4,214
	Cordelio Amalco GP I	4.087%	6/30/34	CAD	4,324		3,486
	CPPIB Capital Inc.	0.375%	6/20/24	EUR	35,000		40,139
	CPPIB Capital Inc.	0.750%	7/15/49	EUR	4,600		5,269
	CPPIB Capital Inc.	1.500%	3/4/33	EUR	15,000		19,388
	CPPIB Capital Inc.	3.000%	6/15/28	CAD	7,970		6,496
	ENMAX Corp.	3.836%	6/5/28	CAD	2,000		1,562
	Export Development Canada	1.000%	12/15/20	GBP	2,410		3,130
	Export Development Canada	1.375%	12/8/23	GBP	10,000		13,263
	Export Development Canada	1.650%	7/31/24	CAD	4,170		3,140
	Export Development Canada	1.800%	9/1/22	CAD	195		148
	Export Development Canada	2.400%	6/7/21	AUD	23,864		16,772
	Export Development Canada	2.700%	10/24/22	AUD	5,800		4,173
	Export Development Canada	2.800%	5/31/23	AUD	2,000		1,454
	Fair Hydro Trust	3.357%	5/15/33	CAD	7,125		5,933
	Financement-Quebec	5.250%	6/1/34	CAD	3,000		3,072
	First Nations Finance Authority	3.050%	6/1/28	CAD	1,035		834
	Hydro Ottawa Holding Inc.	3.991%	5/14/43	CAD	2,100		1,804
	Hydro-Quebec	4.000%	2/15/55	CAD	31,472		33,110
	Hydro-Quebec	5.000%	2/15/45	CAD	28,170		31,734
	Hydro-Quebec	5.000%	2/15/50	CAD	38,100		44,889
	Hydro-Quebec	6.000%	8/15/31	CAD	9,290		9,778
	Hydro-Quebec	6.000%	2/15/40	CAD	18,815		22,482
	Hydro-Quebec	6.500%	1/16/35	CAD	4,155		4,765
	Hydro-Quebec	6.500%	2/15/35	CAD	22,500		26,123
	Hydro-Quebec	9.625%	7/15/22	CAD	12,000		11,000
	Hydro-Quebec	10.500%	10/15/21	CAD	4,000		3,542
2,5	Labrador-Island Link Funding Trust	3.760%	6/1/33	CAD	4,817		4,381
2,5	Labrador-Island Link Funding Trust	3.850%	12/1/53	CAD	4,423		4,648
2,5	Labrador-Island Link Funding Trust	3.860%	12/1/45	CAD	3,790		3,794
	Lower Mattagami Energy LP	3.416%	6/20/24	CAD	2,000		1,604
	Lower Mattagami Energy LP	4.944%	9/21/43	CAD	255		257
	Lower Mattagami Energy LP	5.139%	5/18/41	CAD	5,000		5,077
5	Maritime Link Financing Trust	3.500%	12/1/52	CAD	7,362		6,478
	Municipal Finance Authority of British Columbia	1.650%	4/19/21	CAD	4,500		3,413
	Municipal Finance Authority of British Columbia	2.150%	6/3/24	CAD	5,390		4,138
	Municipal Finance Authority of British Columbia	2.500%	4/19/26	CAD	1,850		1,443
	Municipal Finance Authority of British Columbia	2.550%	10/9/29	CAD	1,195		938
	Municipal Finance Authority of British Columbia	2.600%	4/23/23	CAD	1,848		1,440
	Municipal Finance Authority of British Columbia	2.800%	12/3/23	CAD	6,125		4,822
	Municipal Finance Authority of British Columbia	2.950%	10/14/24	CAD	5,985		4,764
	Municipal Finance Authority of British Columbia	3.050%	10/23/28	CAD	7,620		6,204

27

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Municipal Finance Authority of British Columbia	4.150%	6/1/21	CAD	4,030		3,171
2,5	Muskrat Falls / Labrador Transmission Assets Funding Trust	3.630%	6/1/29	CAD	5,300		4,597
2,5	Muskrat Falls / Labrador Transmission Assets Funding Trust	3.830%	6/1/37	CAD	2,295		2,156
2,5	Muskrat Falls / Labrador Transmission Assets Funding Trust	3.860%	12/1/48	CAD	7,271		7,427
	New Brunswick F-M Project Co. Inc.	6.470%	11/30/27	CAD	970		857
	Newfoundland & Labrador Hydro	3.600%	12/1/45	CAD	3,000		2,611
	Newfoundland & Labrador Hydro	6.650%	8/27/31	CAD	2,000		2,152
2	OMERS Finance Trust	2.600%	5/14/29	CAD	3,000		2,347
	Ontario Electricity Financial Corp.	8.250%	6/22/26	CAD	14,033		14,694
	Ontario Electricity Financial Corp.	8.900%	8/18/22	CAD	10,250		9,265
	Ontario Electricity Financial Corp.	10.125%	10/15/21	CAD	2,500		2,199
	Ontario Infrastructure & Lands Corp.	4.700%	6/1/37	CAD	1,445		1,404
	Ontario Power Generation Inc.	3.838%	6/22/48	CAD	10,000		8,015
	Ontario School Boards Financing Corp.	5.483%	11/26/29	CAD	195		170
	OPB Finance Trust	2.950%	2/2/26	CAD	29,000		23,055
	OPB Finance Trust	2.980%	1/25/27	CAD	4,985		3,969
	Province of Alberta	0.625%	4/18/25	EUR	10,600		12,309
	Province of Alberta	1.000%	11/15/21	GBP	6,300		8,154
	Province of Alberta	1.350%	9/1/21	CAD	22,745		17,159
	Province of Alberta	1.600%	9/1/22	CAD	9,000		6,812
	Province of Alberta	2.050%	6/1/30	CAD	2,000		1,488
	Province of Alberta	2.200%	6/1/26	CAD	20,000		15,327
	Province of Alberta	2.350%	6/1/25	CAD	9,300		7,205
	Province of Alberta	2.550%	12/15/22	CAD	3,200		2,485
	Province of Alberta	2.550%	6/1/27	CAD	22,285		17,433
	Province of Alberta	2.650%	9/1/23	CAD	11,000		8,607
	Province of Alberta	2.900%	12/1/28	CAD	24,665		19,822
	Province of Alberta	2.900%	9/20/29	CAD	12,500		10,061
	Province of Alberta	3.050%	12/1/48	CAD	38,566		32,314
	Province of Alberta	3.100%	12/14/26	AUD	2,100		1,589
	Province of Alberta	3.100%	6/1/50	CAD	11,205		9,566
	Province of Alberta	3.300%	12/1/46	CAD	30,665		26,620
	Province of Alberta	3.400%	12/1/23	CAD	3,000		2,417
	Province of Alberta	3.450%	12/1/43	CAD	19,075		16,779
	Province of Alberta	3.500%	6/1/31	CAD	4,600		3,914
	Province of Alberta	3.600%	4/11/28	AUD	435		342
	Province of Alberta	3.900%	12/1/33	CAD	7,075		6,273
	Province of Alberta	4.500%	12/1/40	CAD	5,000		4,986
	Province of British Columbia	2.200%	6/18/30	CAD	1,495		1,130
	Province of British Columbia	2.300%	6/18/26	CAD	15,000		11,656
	Province of British Columbia	2.550%	6/18/27	CAD	7,360		5,814
	Province of British Columbia	2.700%	12/18/22	CAD	8,402		6,565
	Province of British Columbia	2.800%	6/18/48	CAD	31,496		26,467
	Province of British Columbia	2.850%	6/18/25	CAD	5,185		4,143
	Province of British Columbia	2.950%	12/18/28	CAD	24,932		20,420
	Province of British Columbia	2.950%	6/18/50	CAD	16,715		14,440
	Province of British Columbia	3.200%	6/18/44	CAD	24,500		21,494
	Province of British Columbia	3.250%	12/18/21	CAD	3,870		3,032
	Province of British Columbia	3.300%	12/18/23	CAD	15,275		12,301
	Province of British Columbia	3.700%	12/18/20	CAD	22,000		17,069

28

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
Province of British Columbia	4.250%	11/27/24	AUD	2,300		1,800
Province of British Columbia	4.300%	6/18/42	CAD	21,705		22,061
Province of British Columbia	4.700%	6/18/37	CAD	3,160		3,208
Province of British Columbia	4.800%	6/15/21	CAD	94		75
Province of British Columbia	4.900%	6/18/48	CAD	3,000		3,486
Province of British Columbia	4.950%	6/18/40	CAD	12,500		13,548
Province of British Columbia	5.700%	6/18/29	CAD	13,575		13,535
Province of British Columbia	6.350%	6/18/31	CAD	15,000		16,209
Province of Manitoba	0.750%	12/15/21	GBP	6,300		8,126
Province of Manitoba	1.550%	9/5/21	CAD	5,000		3,793
Province of Manitoba	2.450%	6/2/25	CAD	6,935		5,407
Province of Manitoba	2.550%	6/2/23	CAD	9,405		7,329
Province of Manitoba	2.550%	6/2/26	CAD	19,000		14,885
Province of Manitoba	2.600%	6/2/27	CAD	15,200		11,929
Province of Manitoba	2.750%	6/2/29	CAD	3,580		2,849
Province of Manitoba	2.850%	9/5/46	CAD	10,320		8,251
Province of Manitoba	3.000%	6/2/28	CAD	10,000		8,089
Province of Manitoba	3.150%	9/5/52	CAD	2,750		2,351
Province of Manitoba	3.200%	3/5/50	CAD	4,540		3,930
Province of Manitoba	3.250%	9/5/29	CAD	2,270		1,877
Province of Manitoba	3.300%	6/2/24	CAD	3,000		2,423
Province of Manitoba	3.350%	3/5/43	CAD	2,000		1,726
Province of Manitoba	3.400%	9/5/48	CAD	17,049		15,345
Province of Manitoba	3.450%	3/5/63	CAD	3,597		3,378
Province of Manitoba	4.050%	9/5/45	CAD	6,995		6,849
Province of Manitoba	4.100%	3/5/41	CAD	5,000		4,759
Province of Manitoba	4.250%	3/3/25	AUD	1,000		783
Province of Manitoba	4.400%	9/5/25	CAD	6,800		5,844
Province of Manitoba	4.400%	3/5/42	CAD	6,500		6,464
Province of Manitoba	4.600%	3/5/38	CAD	5,675		5,588
Province of Manitoba	4.650%	3/5/40	CAD	4,000		4,057
Province of Manitoba	4.700%	3/5/50	CAD	235		260
Province of Manitoba	5.700%	3/5/37	CAD	3,000		3,285
Province of Manitoba	6.300%	3/5/31	CAD	955		1,011
Province of New Brunswick	1.550%	5/4/22	CAD	98		74
Province of New Brunswick	2.350%	8/14/27	CAD	1,700		1,309
Province of New Brunswick	2.600%	8/14/26	CAD	10,000		7,842
Province of New Brunswick	2.850%	6/2/23	CAD	10,000		7,862
Province of New Brunswick	3.050%	8/14/50	CAD	2,500		2,072
Province of New Brunswick	3.100%	8/14/28	CAD	3,765		3,062
Province of New Brunswick	3.100%	8/14/48	CAD	16,480		13,702
Province of New Brunswick	3.550%	6/3/43	CAD	5,800		5,087
Province of New Brunswick	3.650%	6/3/24	CAD	11,000		8,993
Province of New Brunswick	3.800%	8/14/45	CAD	7,965		7,330
Province of New Brunswick	4.550%	3/26/37	CAD	7,000		6,798
Province of New Brunswick	4.800%	9/26/39	CAD	2,420		2,444
Province of New Brunswick	4.800%	6/3/41	CAD	2,990		3,066
Province of New Brunswick	5.500%	1/27/34	CAD	4,000		4,109
Province of Newfoundland and Labrador	2.300%	6/2/25	CAD	5,000		3,846
Province of Newfoundland and Labrador	2.850%	6/2/28	CAD	15,000		11,864
Province of Newfoundland and Labrador	3.000%	6/2/26	CAD	10,000		7,981
Province of Newfoundland and Labrador	3.300%	10/17/46	CAD	15,205		12,712
Province of Newfoundland and Labrador	3.700%	10/17/48	CAD	10,904		9,803
Province of Newfoundland and Labrador	4.650%	10/17/40	CAD	2,270		2,242

29

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
Province of Newfoundland and Labrador	5.700%	10/17/35	CAD	1,000		1,049
Province of Newfoundland and Labrador	6.150%	4/17/28	CAD	1,000		983
Province of Nova Scotia	2.100%	6/1/27	CAD	16,000		12,159
Province of Nova Scotia	3.150%	12/1/51	CAD	5,500		4,817
Province of Nova Scotia	3.450%	6/1/45	CAD	3,000		2,691
Province of Nova Scotia	3.500%	6/2/62	CAD	8,420		8,062
Province of Nova Scotia	4.100%	6/1/21	CAD	7,980		6,285
Province of Nova Scotia	4.400%	6/1/42	CAD	6,000		6,027
Province of Nova Scotia	4.500%	6/1/37	CAD	5,000		4,884
Province of Nova Scotia	4.700%	6/1/41	CAD	4,000		4,143
Province of Nova Scotia	5.800%	6/1/33	CAD	2,000		2,116
Province of Ontario	0.375%	6/14/24	EUR	24,200		27,724
Province of Ontario	0.875%	1/21/25	EUR	5,000		5,892
Province of Ontario	1.350%	3/8/22	CAD	32,500		24,450
Province of Ontario	1.875%	5/21/24	EUR	5,000		6,110
Province of Ontario	1.950%	1/27/23	CAD	8,400		6,416
Province of Ontario	2.300%	9/8/24	CAD	20,600		15,993
Province of Ontario	2.400%	6/2/26	CAD	44,280		34,485
Province of Ontario	2.600%	9/8/23	CAD	24,200		18,922
Province of Ontario	2.600%	6/2/25	CAD	77,465		60,960
Province of Ontario	2.600%	6/2/27	CAD	74,500		58,768
Province of Ontario	2.650%	2/5/25	CAD	13,000		10,252
Province of Ontario	2.650%	12/2/50	CAD	44,830		35,914
Province of Ontario	2.700%	6/2/29	CAD	42,500		33,889
Province of Ontario	2.800%	6/2/48	CAD	70,336		57,614
Province of Ontario	2.850%	6/2/23	CAD	77,150		60,740
Province of Ontario	2.900%	6/2/28	CAD	66,932		54,022
Province of Ontario	2.900%	12/2/46	CAD	88,047		72,899
Province of Ontario	2.900%	6/2/49	CAD	74,551		62,470
Province of Ontario	3.100%	8/26/25	AUD	2,000		1,497
Province of Ontario	3.150%	6/2/22	CAD	88,000		69,204
Province of Ontario	3.450%	6/2/45	CAD	83,735		75,758
Province of Ontario	3.500%	6/2/24	CAD	52,610		42,834
Province of Ontario	3.500%	1/27/27	AUD	1,000		773
Province of Ontario	3.500%	6/2/43	CAD	63,350		57,287
Province of Ontario	4.000%	6/2/21	CAD	60,720		47,755
Province of Ontario	4.250%	8/22/24	AUD	1,000		781
Province of Ontario	4.600%	6/2/39	CAD	51,600		52,213
Province of Ontario	4.650%	6/2/41	CAD	72,175		74,963
Province of Ontario	4.700%	6/2/37	CAD	51,200		51,626
Province of Ontario	5.600%	6/2/35	CAD	39,000		42,067
Province of Ontario	5.850%	3/8/33	CAD	22,850		24,579
Province of Ontario	6.200%	6/2/31	CAD	13,000		13,851
Province of Ontario	6.500%	3/8/29	CAD	16,560		17,191
Province of Ontario	7.500%	2/7/24	CAD	2,570		2,400
Province of Ontario	7.600%	6/2/27	CAD	15,000		15,815
Province of Prince Edward Island	3.600%	1/17/53	CAD	2,994		2,715
Province of Quebec	0.875%	5/24/22	GBP	1,500		1,940
Province of Quebec	0.875%	1/15/25	EUR	18,300		21,564
Province of Quebec	0.875%	5/4/27	EUR	34,900		41,582
Province of Quebec	0.875%	7/5/28	EUR	3,900		4,663
Province of Quebec	1.650%	3/3/22	CAD	15,000		11,382
Province of Quebec	2.250%	7/17/23	EUR	13,500		16,509
Province of Quebec	2.250%	2/22/24	CAD	5,200		4,020

30

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
Province of Quebec	2.300%	9/1/29	CAD	27,460		21,257
Province of Quebec	2.375%	1/22/24	EUR	1,000		1,241
Province of Quebec	2.450%	3/1/23	CAD	2,000		1,553
Province of Quebec	2.500%	9/1/26	CAD	37,500		29,426
Province of Quebec	2.600%	7/6/25	CAD	835		659
Province of Quebec	2.750%	9/1/25	CAD	28,480		22,635
Province of Quebec	2.750%	9/1/27	CAD	42,178		33,690
Province of Quebec	2.750%	9/1/28	CAD	45,640		36,581
Province of Quebec	3.000%	9/1/23	CAD	34,960		27,732
Province of Quebec	3.100%	12/1/51	CAD	22,060		19,529
Province of Quebec	3.500%	12/1/22	CAD	36,220		28,907
Province of Quebec	3.500%	12/1/45	CAD	56,425		51,907
Province of Quebec	3.500%	12/1/48	CAD	63,900		59,809
Province of Quebec	3.700%	5/20/26	AUD	700		542
Province of Quebec	3.750%	9/1/24	CAD	38,650		31,920
Province of Quebec	4.200%	3/10/25	AUD	1,507		1,177
Province of Quebec	4.250%	12/1/21	CAD	46,000		36,686
Province of Quebec	4.250%	12/1/43	CAD	42,625		43,205
Province of Quebec	4.500%	12/1/20	CAD	22,597		17,650
Province of Quebec	5.000%	12/1/38	CAD	21,900		23,212
Province of Quebec	5.000%	12/1/41	CAD	51,390		56,224
Province of Quebec	5.350%	6/1/25	CAD	5,000		4,478
Province of Quebec	5.750%	12/1/36	CAD	17,240		19,277
Province of Quebec	6.000%	10/1/29	CAD	15,000		15,275
Province of Quebec	6.250%	6/1/32	CAD	21,570		23,515
Province of Quebec	8.500%	4/1/26	CAD	10,000		10,539
Province of Quebec	9.375%	1/16/23	CAD	3,000		2,808
Province of Saskatchewan	2.550%	6/2/26	CAD	4,875		3,822
Province of Saskatchewan	2.650%	6/2/27	CAD	10,000		7,890
Province of Saskatchewan	2.750%	12/2/46	CAD	11,950		9,447
Province of Saskatchewan	2.950%	6/2/58	CAD	2,800		2,364
Province of Saskatchewan	3.050%	12/2/28	CAD	3,500		2,861
Province of Saskatchewan	3.100%	6/2/50	CAD	8,995		7,702
Province of Saskatchewan	3.200%	6/3/24	CAD	9,500		7,637
Province of Saskatchewan	3.300%	6/2/48	CAD	16,920		14,932
Province of Saskatchewan	3.400%	2/3/42	CAD	3,500		3,054
Province of Saskatchewan	3.750%	3/5/54	CAD	3,795		3,708
Province of Saskatchewan	3.900%	6/2/45	CAD	8,200		7,820
Province of Saskatchewan	4.750%	6/1/40	CAD	7,400		7,607
Province of Saskatchewan	5.000%	3/5/37	CAD	240		246
Province of Saskatchewan	5.750%	3/5/29	CAD	6,000		5,908
PSP Capital Inc.	1.730%	6/21/22	CAD	2,000		1,518
PSP Capital Inc.	2.090%	11/22/23	CAD	4,000		3,072
PSP Capital Inc.	3.000%	11/5/25	CAD	6,170		4,970
PSP Capital Inc.	3.290%	4/4/24	CAD	19,825		15,995
Regional Municipality of Peel Ontario	5.100%	6/29/40	CAD	1,600		1,679
Regional Municipality of York	2.350%	6/9/27	CAD	4,990		3,847
Regional Municipality of York	2.500%	6/2/26	CAD	3,000		2,337
Regional Municipality of York	2.600%	12/15/25	CAD	5,000		3,918
Regional Municipality of York	4.000%	5/31/32	CAD	1,500		1,334
Regional Municipality of York	4.050%	5/1/34	CAD	2,400		2,155
South Coast British Columbia Transportation Authority	3.150%	11/16/48	CAD	4,394		3,692

31

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Toronto Hydro Corp.	2.520%	8/25/26	CAD	5,500		4,271
	Toronto Hydro Corp.	3.485%	2/28/48	CAD	4,500		3,761
							6,120,206
Total Canada (Cost $8,062,660)							8,232,475
Chile (0.0%)
Sovereign Bonds (0.0%)
	Corp. Nacional del Cobre de Chile	2.250%	7/9/24	EUR	3,000		3,645
1	Republic of Chile	0.830%	7/2/31	EUR	5,430		6,197
1	Republic of Chile	1.440%	2/1/29	EUR	15,000		18,111
	Republic of Chile	1.750%	1/20/26	EUR	100		121
	Republic of Chile	1.875%	5/27/30	EUR	19,900		25,154
Total Chile (Cost $53,147)							53,228
China (0.8%)
Sovereign Bonds (0.8%)
	Agricultural Development Bank of China	3.750%	1/25/29	CNH	275,200		38,646
	Agricultural Development Bank of China	4.000%	11/12/25	CNH	339,900		48,706
	Bank of China Ltd.	3.300%	11/20/20	HKD	19,000		2,448
	China Development Bank	0.375%	11/16/21	EUR	21,900		24,601
	China Development Bank	0.500%	6/1/21	EUR	22,800		25,623
	China Development Bank	0.625%	12/12/22	EUR	3,400		3,852
	China Development Bank	0.875%	1/24/24	EUR	1,600		1,834
	China Development Bank	3.030%	1/18/22	CNH	899,800		127,684
	China Development Bank	3.300%	2/1/24	CNH	399,900		56,409
	China Development Bank	3.500%	8/13/26	CNH	205,300		28,596
	China Development Bank	3.680%	2/26/26	CNH	1,063,800		150,252
	China Development Bank	4.010%	1/9/37	CNH	99,900		14,074
	China Government Bond	3.000%	10/18/20	CNH	859,700		122,578
	China Government Bond	3.220%	12/6/25	CNH	328,600		46,597
	China Government Bond	3.250%	6/6/26	CNH	742,800		105,720
	China Government Bond	3.860%	7/22/49	CNH	265,200		37,419
	Export-Import Bank of China	0.750%	6/8/22	EUR	2,840		3,226
	Export-Import Bank of China	0.750%	5/28/23	EUR	33,200		37,855
	Export-Import Bank of China	3.280%	2/11/24	CNH	364,800		51,379
	Industrial & Commercial Bank of China Ltd.	0.250%	4/25/22	EUR	4,611		5,155
	People’s Republic of China	3.290%	10/18/23	CNH	529,800		76,043
	People’s Republic of China	3.970%	7/23/48	CNH	250,000		36,081
	Sinopec Group Overseas Development 2015 Ltd.	1.000%	4/28/22	EUR	22,750		25,851
	State Grid Europe Development 2014 plc	2.450%	1/26/27	EUR	2,240		2,742
	State Grid Overseas Investment 2016 Ltd.	1.375%	5/2/25	EUR	7,000		8,163
	Syngenta Finance NV	1.875%	11/2/21	EUR	5,800		6,641
Total China (Cost $1,126,641)							1,088,175
Colombia (0.0%)
Sovereign Bond (0.0%)
1	Republic of Colombia	3.875%	3/22/26	EUR	5,000		6,622
Total Colombia (Cost $6,438)							6,622
Croatia (0.0%)
Sovereign Bonds (0.0%)
	Republic of Croatia	1.125%	6/19/29	EUR	7,000		8,186
	Republic of Croatia	2.700%	6/15/28	EUR	5,800		7,662

32

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Republic of Croatia	2.750%	1/27/30	EUR	5,000		6,734
	Republic of Croatia	3.000%	3/11/25	EUR	2,000		2,553
	Republic of Croatia	3.000%	3/20/27	EUR	2,000		2,644
Total Croatia (Cost $27,322)							27,779
Cyprus (0.0%)
Sovereign Bond (0.0%)
	Republic of Cyprus	2.750%	2/26/34	EUR	5,000		6,960
Total Cyprus (Cost $6,094)							6,960
Czech Republic (0.2%)
Corporate Bonds (0.0%)
	CPI Property Group SA	1.450%	4/14/22	EUR	5,100		5,820
	CPI Property Group SA	2.125%	10/4/24	EUR	9,400		10,975
							16,795
Sovereign Bonds (0.2%)
	CEZ AS	3.000%	6/5/28	EUR	2,500		3,237
	CEZ AS	4.875%	4/16/25	EUR	12,500		17,216
	CEZ AS	5.000%	10/19/21	EUR	2,000		2,443
	Czech Republic	0.450%	10/25/23	CZK	469,910		19,909
	Czech Republic	0.950%	5/15/30	CZK	910,000		37,880
	Czech Republic	1.000%	6/26/26	CZK	167,800		7,196
	Czech Republic	2.000%	10/13/33	CZK	120,000		5,594
	Czech Republic	2.400%	9/17/25	CZK	250,000		11,613
	Czech Republic	2.500%	8/25/28	CZK	370,000		17,622
	Czech Republic	2.750%	7/23/29	CZK	688,340		33,704
	Czech Republic	3.625%	4/14/21	EUR	13,155		15,511
	Czech Republic	3.750%	9/12/20	CZK	489,910		21,832
	Czech Republic	3.850%	9/29/21	CZK	350,000		16,025
	Czech Republic	3.875%	5/24/22	EUR	9,950		12,311
	Czech Republic	4.200%	12/4/36	CZK	418,350		25,766
	Czech Republic	4.700%	9/12/22	CZK	130,000		6,230
	Czech Republic	4.850%	11/26/57	CZK	80,000		5,924
	Czech Republic	5.700%	5/25/24	CZK	220,000		11,590
							271,603
Total Czech Republic (Cost $282,460)							288,398
Denmark (0.7%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.1%)
	Danske Bank A/S	0.125%	3/9/21	EUR	2,300		2,582
	Danske Bank A/S	1.250%	6/11/21	EUR	10,000		11,437
	Danske Bank A/S	3.750%	6/23/22	EUR	500		618
	DLR Kredit A/S	1.000%	10/1/22	DKK	200,000		31,104
	Jyske Realkredit A/S	0.250%	4/1/21	EUR	10,800		12,145
	Jyske Realkredit A/S	0.250%	7/1/23	EUR	8,000		9,087
	Jyske Realkredit A/S	0.500%	10/1/26	EUR	22,180		25,686
	Nordea Kredit Realkreditaktieselskab	1.000%	10/1/21	DKK	200,000		30,799
	Nordea Kredit Realkreditaktieselskab	3.500%	10/1/44	DKK	756		123
	Nykredit Realkredit A/S	1.000%	7/1/21	DKK	285,000		43,574
	Nykredit Realkredit A/S	1.000%	1/1/22	DKK	348,000		53,570
	Nykredit Realkredit A/S	2.000%	10/1/47	DKK	117,992		17,888
							238,613

33

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Corporate Bonds (0.2%)
	AP Moller - Maersk A/S	1.750%	3/18/21	EUR	3,700		4,225
	AP Moller - Maersk A/S	1.750%	3/16/26	EUR	4,600		5,308
	Carlsberg Breweries A/S	0.500%	9/6/23	EUR	500		568
	Carlsberg Breweries A/S	2.500%	5/28/24	EUR	17,000		20,938
	Carlsberg Breweries A/S	2.625%	11/15/22	EUR	120		145
1	Danica Pension Livsforsikrings AB	4.375%	9/29/45	EUR	3,400		4,303
	Danske Bank A/S	0.125%	2/14/22	EUR	21,670		24,412
	Danske Bank A/S	0.250%	11/28/22	EUR	16,700		18,736
	Danske Bank A/S	0.500%	5/6/21	EUR	8,600		9,680
	Danske Bank A/S	0.750%	6/2/23	EUR	16,100		18,374
	Danske Bank A/S	0.875%	5/22/23	EUR	23,600		26,752
	Danske Bank A/S	1.375%	5/24/22	EUR	10,000		11,474
	Danske Bank A/S	1.625%	3/15/24	EUR	3,000		3,506
1	Danske Bank A/S	2.500%	6/21/29	EUR	3,300		3,877
1	Danske Bank A/S	2.750%	5/19/26	EUR	4,800		5,512
	ISS Global A/S	0.875%	6/18/26	EUR	200		226
	ISS Global A/S	1.125%	1/7/21	EUR	14,752		16,628
	ISS Global A/S	1.500%	8/31/27	EUR	20,100		23,691
	ISS Global A/S	2.125%	12/2/24	EUR	500		605
1	Jyske Bank A/S	2.250%	4/5/29	EUR	15,100		17,690
	Jyske Realkredit A/S	0.375%	4/1/25	EUR	7,000		8,026
	Nordea Kredit Realkreditaktieselskab	1.000%	10/1/22	DKK	137,000		21,417
	Nykredit Realkredit A/S	0.750%	7/14/21	EUR	300		339
1	Nykredit Realkredit A/S	2.750%	11/17/27	EUR	7,600		9,006
	Sydbank A/S	1.250%	2/4/22	EUR	10,000		11,397
	Sydbank A/S	1.375%	9/18/23	EUR	10,000		11,586
							278,421
Sovereign Bonds (0.4%)
	Kingdom of Denmark	0.500%	11/15/27	DKK	461,000		74,591
2	Kingdom of Denmark	0.500%	11/15/29	DKK	250,000		40,684
	Kingdom of Denmark	1.500%	11/15/23	DKK	242,545		39,444
	Kingdom of Denmark	1.750%	11/15/25	DKK	177,300		30,290
	Kingdom of Denmark	3.000%	11/15/21	DKK	179,410		28,837
	Kingdom of Denmark	4.500%	11/15/39	DKK	672,830		196,608
	Kingdom of Denmark	7.000%	11/10/24	DKK	74,285		15,423
	Kommunekredit	0.250%	3/29/23	EUR	700		798
	Kommunekredit	0.250%	5/15/23	EUR	600		684
	Kommunekredit	0.250%	2/16/24	EUR	2,000		2,287
	Kommunekredit	0.625%	5/11/26	EUR	4,400		5,167
	Kommunekredit	0.750%	5/18/27	EUR	25,578		30,376
	Kommunekredit	2.900%	11/27/26	AUD	1,678		1,247
	Orsted A/S	1.500%	11/26/29	EUR	20,589		25,245
	Orsted A/S	2.500%	5/16/33	GBP	100		139
	Orsted A/S	4.875%	1/12/32	GBP	17,162		29,611
	Orsted A/S	5.750%	4/9/40	GBP	4,000		8,188
1	Orsted A/S	6.250%	6/26/13	EUR	1,045		1,373
							530,992
Total Denmark (Cost $1,007,071)							1,048,026
Finland (0.7%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.1%)
	Aktia Bank Oyj	0.250%	3/31/22	EUR	10,300		11,660
	Danske Bank Oyj	0.250%	11/26/20	EUR	10,000		11,225

34

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Danske Bank Oyj	3.875%	6/21/21	EUR	2,000		2,384
	Nordea Mortgage Bank plc	0.250%	11/21/23	EUR	5,000		5,701
	Nordea Mortgage Bank plc	0.625%	3/17/27	EUR	13,000		15,287
	Nordea Mortgage Bank plc	4.000%	2/10/21	EUR	12,000		14,130
	OP Mortgage Bank	0.250%	3/13/24	EUR	30,000		34,256
	OP Mortgage Bank	0.625%	9/4/22	EUR	22,700		26,060
	OP Mortgage Bank	1.000%	11/28/24	EUR	7,000		8,313
	OP Mortgage Bank	1.500%	3/17/21	EUR	10,000		11,442
							140,458
Corporate Bonds (0.1%)
	Aktia Bank Oyj	0.375%	3/5/26	EUR	10,000		11,519
	Citycon Oyj	3.750%	6/24/20	EUR	500		570
	Citycon Treasury BV	2.375%	1/15/27	EUR	10,000		11,252
	Nordea Bank AB	1.125%	2/12/25	EUR	4,500		5,290
1	Nordea Bank AB	1.875%	11/10/25	EUR	5,000		5,670
	Nordea Bank AB	2.375%	6/2/22	GBP	7,000		9,341
	Nordea Bank AB	3.250%	7/5/22	EUR	5,400		6,559
	Nordea Bank AB	4.000%	3/29/21	EUR	6,110		7,184
	Nordea Mortgage Bank plc	0.025%	1/24/22	EUR	10,000		11,250
	Nordea Mortgage Bank plc	0.250%	2/28/23	EUR	10,800		12,277
	Nordea Mortgage Bank plc	0.250%	3/18/26	EUR	5,000		5,725
	Nordea Mortgage Bank plc	0.625%	10/19/22	EUR	300		344
	OP Corporate Bank plc	0.375%	8/29/23	EUR	6,000		6,796
	OP Corporate Bank plc	0.375%	2/26/24	EUR	6,800		7,708
	OP Corporate Bank plc	0.375%	6/19/24	EUR	5,000		5,605
	OP Corporate Bank plc	0.750%	3/3/22	EUR	1,000		1,139
	OP Corporate Bank plc	0.875%	6/21/21	EUR	8,000		9,076
	OP Corporate Bank plc	1.000%	5/22/25	EUR	10,000		11,703
	OP Corporate Bank plc	2.000%	3/3/21	EUR	3,000		3,446
	OP Corporate Bank plc	2.500%	5/20/22	GBP	1,800		2,410
	OP Mortgage Bank	0.050%	2/22/23	EUR	5,000		5,651
	OP Mortgage Bank	0.250%	5/11/23	EUR	6,745		7,682
	OP Mortgage Bank	0.625%	2/15/29	EUR	10,000		11,791
	Sampo Oyj	1.000%	9/18/23	EUR	500		578
	Sampo Oyj	1.500%	9/16/21	EUR	5,800		6,659
	Stora Enso Oyj	2.500%	6/7/27	EUR	4,500		5,466
	Stora Enso Oyj	2.500%	3/21/28	EUR	100		122
							172,813
Sovereign Bonds (0.5%)
	Finnvera Oyj	0.375%	4/9/29	EUR	10,000		11,636
6	Finnvera Oyj	0.500%	4/13/26	EUR	6,500		7,611
6	Finnvera Oyj	0.625%	11/19/21	EUR	20,000		22,810
	Fortum Oyj	2.125%	2/27/29	EUR	10,580		12,915
	Fortum Oyj	2.250%	9/6/22	EUR	9,500		11,233
	Fortum Oyj	4.000%	5/24/21	EUR	5,000		5,925
	Municipality Finance plc	0.625%	11/26/26	EUR	5,000		5,917
	Municipality Finance plc	0.750%	12/15/20	GBP	1,200		1,553
	Municipality Finance plc	1.250%	2/23/33	EUR	10,000		12,763
	Municipality Finance plc	5.000%	3/20/24	AUD	1,000		795
2	Republic of Finland	0.000%	4/15/22	EUR	26,000		29,436
2	Republic of Finland	0.000%	9/15/23	EUR	33,750		38,433
2	Republic of Finland	0.500%	4/15/26	EUR	36,640		43,191
2	Republic of Finland	0.500%	9/15/27	EUR	11,000		13,033
2	Republic of Finland	0.500%	9/15/29	EUR	69,531		82,600

35

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
2	Republic of Finland	0.750%	4/15/31	EUR	64,492		78,588
2	Republic of Finland	0.875%	9/15/25	EUR	10,500		12,603
2	Republic of Finland	1.125%	4/15/34	EUR	32,000		41,028
2	Republic of Finland	1.375%	4/15/47	EUR	21,000		29,694
2	Republic of Finland	1.500%	4/15/23	EUR	35,140		42,052
2	Republic of Finland	1.625%	12/15/20	GBP	4,000		5,228
2	Republic of Finland	1.625%	9/15/22	EUR	7,080		8,406
2	Republic of Finland	2.000%	4/15/24	EUR	29,000		36,026
2	Republic of Finland	2.625%	7/4/42	EUR	14,215		24,201
2	Republic of Finland	2.750%	7/4/28	EUR	11,353		15,995
2	Republic of Finland	3.500%	4/15/21	EUR	13,000		15,369
2	Republic of Finland	4.000%	7/4/25	EUR	43,663		61,232
							670,273
Total Finland (Cost $958,443)							983,544
France (11.9%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.7%)
	Arkea Home Loans SFH SA	1.500%	6/1/33	EUR	10,000		12,974
	Arkea Home Loans SFH SA	2.375%	7/11/23	EUR	6,000		7,352
	Arkea Home Loans SFH SA	4.500%	4/13/21	EUR	1,000		1,193
	BNP Paribas Home Loan SFH	0.250%	9/2/21	EUR	10,500		11,847
	BNP Paribas Home Loan SFH	0.875%	11/14/24	EUR	5,000		5,898
	BNP Paribas Home Loan SFH	3.125%	3/22/22	EUR	7,000		8,460
	BPCE SFH SA	0.398%	4/24/25	EUR	20,000		23,022
	BPCE SFH SA	1.000%	2/24/25	EUR	13,500		16,043
	BPCE SFH SA	1.750%	6/27/24	EUR	20,000		24,427
	BPCE SFH SA	2.375%	11/29/23	EUR	5,000		6,191
	BPCE SFH SA	3.750%	9/13/21	EUR	6,300		7,569
	BPCE SFH SA	4.000%	3/23/22	EUR	20,000		24,642
	Caisse de Refinancement de l’Habitat SA	2.400%	1/17/25	EUR	1,120		1,421
	Caisse de Refinancement de l’Habitat SA	2.500%	3/29/21	CHF	1,000		1,058
	Caisse de Refinancement de l’Habitat SA	3.300%	9/23/22	EUR	9,500		11,726
	Caisse de Refinancement de l’Habitat SA	3.600%	9/13/21	EUR	2,000		2,396
	Caisse de Refinancement de l’Habitat SA	3.600%	3/8/24	EUR	11,600		15,134
	Caisse de Refinancement de l’Habitat SA	3.900%	10/20/23	EUR	5,000		6,516
	Caisse de Refinancement de l’Habitat SA	4.000%	6/17/22	EUR	19,870		24,705
	Caisse de Refinancement de l’Habitat SA	4.300%	2/24/23	EUR	7,000		9,016
	Caisse Francaise de Financement Local	0.200%	4/27/23	EUR	15,600		17,723
	Caisse Francaise de Financement Local	0.375%	5/11/24	EUR	20,000		22,975
	Caisse Francaise de Financement Local	0.375%	6/23/25	EUR	23,100		26,622
	Caisse Francaise de Financement Local	0.625%	1/26/23	EUR	19,000		21,854
	Caisse Francaise de Financement Local	0.750%	9/27/27	EUR	10,000		11,855
	Caisse Francaise de Financement Local	1.000%	4/25/28	EUR	200		242
	Caisse Francaise de Financement Local	1.125%	9/9/25	EUR	3,400		4,085
	Caisse Francaise de Financement Local	1.250%	1/22/35	EUR	500		633
	Caisse Francaise de Financement Local	1.500%	6/28/38	EUR	5,000		6,647
	Caisse Francaise de Financement Local	2.375%	1/17/24	EUR	12,000		14,903
	Caisse Francaise de Financement Local	3.000%	10/2/28	EUR	9,500		13,439
	Caisse Francaise de Financement Local	4.250%	1/26/21	EUR	7,000		8,252
	Caisse Francaise de Financement Local	4.250%	1/26/22	EUR	3,000		3,694
	Caisse Francaise de Financement Local	5.375%	7/8/24	EUR	4,000		5,644
	Cie de Financement Foncier SA	0.200%	9/16/22	EUR	10,000		11,327
	Cie de Financement Foncier SA	0.225%	9/14/26	EUR	5,600		6,397
	Cie de Financement Foncier SA	0.250%	3/16/22	EUR	16,000		18,101

36

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
Cie de Financement Foncier SA	0.250%	4/11/23	EUR	200		227
Cie de Financement Foncier SA	0.325%	9/12/23	EUR	23,000		26,278
Cie de Financement Foncier SA	0.500%	9/4/24	EUR	10,000		11,566
Cie de Financement Foncier SA	0.625%	11/12/21	EUR	32,000		36,407
Cie de Financement Foncier SA	0.625%	2/10/23	EUR	22,000		25,293
Cie de Financement Foncier SA	0.750%	1/21/25	EUR	7,000		8,206
Cie de Financement Foncier SA	1.000%	2/2/26	EUR	100		120
Cie de Financement Foncier SA	2.000%	5/7/24	EUR	14,300		17,582
Cie de Financement Foncier SA	2.250%	10/13/21	CHF	3,000		3,207
Cie de Financement Foncier SA	2.375%	11/21/22	EUR	5,800		7,006
Cie de Financement Foncier SA	3.500%	11/5/20	EUR	16,400		18,999
Cie de Financement Foncier SA	3.875%	4/25/55	EUR	4,000		8,857
Cie de Financement Foncier SA	4.000%	10/24/25	EUR	25,300		35,320
Cie de Financement Foncier SA	4.250%	1/19/22	EUR	1,000		1,230
Cie de Financement Foncier SA	4.375%	4/15/21	EUR	16,628		19,827
Cie de Financement Foncier SA	4.875%	5/25/21	EUR	16,544		19,967
Cie de Financement Foncier SA	5.500%	1/26/27	GBP	2,350		3,955
Cie de Financement Foncier SA	5.750%	10/4/21	EUR	500		623
Credit Agricole Home Loan SFH SA	0.050%	8/29/22	EUR	1,000		1,128
Credit Agricole Home Loan SFH SA	0.375%	10/21/21	EUR	10,000		11,323
Credit Agricole Home Loan SFH SA	0.375%	9/30/24	EUR	5,100		5,872
Credit Agricole Home Loan SFH SA	0.500%	2/19/26	EUR	1,500		1,745
Credit Agricole Home Loan SFH SA	0.625%	11/28/22	EUR	16,000		18,385
Credit Agricole Home Loan SFH SA	0.625%	9/11/23	EUR	3,000		3,469
Credit Agricole Home Loan SFH SA	0.750%	5/5/27	EUR	36,000		42,665
Credit Agricole Home Loan SFH SA	0.875%	8/11/28	EUR	15,000		18,013
Credit Agricole Home Loan SFH SA	0.875%	5/6/34	EUR	15,000		18,058
Credit Agricole Home Loan SFH SA	1.000%	1/16/29	EUR	5,000		6,075
Credit Agricole Home Loan SFH SA	1.250%	3/24/31	EUR	18,000		22,573
Credit Agricole Home Loan SFH SA	1.375%	2/3/32	EUR	4,500		5,737
Credit Agricole Home Loan SFH SA	1.500%	9/28/38	EUR	5,000		6,648
Credit Agricole Home Loan SFH SA	3.875%	1/12/21	EUR	7,500		8,787
Credit Agricole Home Loan SFH SA	4.000%	1/17/22	EUR	5,000		6,117
Credit Agricole Home Loan SFH SA	4.000%	7/16/25	EUR	2,000		2,770
Credit Agricole Public Sector SCF SA	0.250%	10/31/26	EUR	1,000		1,142
Credit Agricole Public Sector SCF SA	0.875%	8/2/27	EUR	700		836
Credit Agricole Public Sector SCF SA	1.875%	6/7/23	EUR	6,200		7,466
Credit Mutuel - CIC Home Loan SFH SA	0.250%	4/30/24	EUR	5,000		5,713
Credit Mutuel - CIC Home Loan SFH SA	0.500%	1/21/22	EUR	10,000		11,366
Credit Mutuel - CIC Home Loan SFH SA	0.625%	2/10/25	EUR	2,200		2,566
Credit Mutuel - CIC Home Loan SFH SA	0.625%	2/2/26	EUR	5,000		5,856
Credit Mutuel - CIC Home Loan SFH SA	0.750%	9/15/27	EUR	8,600		10,189
Credit Mutuel - CIC Home Loan SFH SA	0.875%	4/7/26	EUR	800		952
Credit Mutuel - CIC Home Loan SFH SA	1.000%	1/30/29	EUR	5,000		6,072
Credit Mutuel - CIC Home Loan SFH SA	2.500%	9/11/23	EUR	3,000		3,711
Credit Mutuel - CIC Home Loan SFH SA	4.125%	1/16/23	EUR	6,100		7,782
Credit Mutuel - CIC Home Loan SFH SA	4.125%	1/19/24	EUR	6,000		7,948
Credit Mutuel - CIC Home Loan SFH SA	4.375%	3/17/21	EUR	1,400		1,663
HSBC SFH France SA	0.375%	3/11/22	EUR	5,000		5,677
HSBC SFH France SA	2.000%	10/16/23	EUR	2,500		3,046
La Banque Postale Home Loan SFH SA	0.175%	4/22/22	EUR	5,000		5,652
La Banque Postale Home Loan SFH SA	0.625%	6/23/27	EUR	2,500		2,936
La Banque Postale Home Loan SFH SA	0.875%	2/7/28	EUR	1,000		1,199
La Banque Postale Home Loan SFH SA	1.000%	10/4/28	EUR	5,000		6,063

37

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	La Banque Postale Home Loan SFH SA	2.375%	1/15/24	EUR	4,800		5,958
	Societe Generale SCF SA	4.250%	2/3/23	EUR	4,600		5,897
	Societe Generale SFH SA	0.750%	1/19/28	EUR	10,000		11,894
	Societe Generale SFH SA	1.625%	1/5/21	EUR	10,900		12,444
	Societe Generale SFH SA	2.000%	4/29/24	EUR	13,400		16,478
	Societe Generale SFH SA	4.000%	1/18/22	EUR	2,000		2,447
							992,971
Corporate Bonds (2.2%)
	Accor SA	1.250%	1/25/24	EUR	9,800		11,323
	Accor SA	2.375%	9/17/23	EUR	2,300		2,771
	Air Liquide Finance SA	0.500%	6/13/22	EUR	1,400		1,587
	Air Liquide Finance SA	1.000%	3/8/27	EUR	100		119
	Air Liquide Finance SA	1.250%	6/3/25	EUR	5,600		6,688
	Air Liquide Finance SA	1.250%	6/13/28	EUR	1,000		1,220
	Air Liquide Finance SA	2.125%	10/15/21	EUR	5,300		6,175
	Air Liquide SA	2.375%	9/6/23	EUR	2,300		2,811
	Airbus Finance BV	0.875%	5/13/26	EUR	5,800		6,770
	Airbus Finance BV	1.375%	5/13/31	EUR	6,536		7,962
	Airbus Finance BV	2.125%	10/29/29	EUR	700		919
	Airbus Finance BV	2.375%	4/2/24	EUR	9,300		11,379
	Altarea SCA	2.250%	7/5/24	EUR	10,000		11,755
	APRR SA	1.125%	1/15/21	EUR	13,400		15,127
	APRR SA	1.125%	1/9/26	EUR	10,700		12,666
	APRR SA	1.250%	1/6/27	EUR	10,800		12,961
	APRR SA	1.250%	1/18/28	EUR	1,200		1,442
	APRR SA	1.500%	1/15/24	EUR	600		710
	APRR SA	1.500%	1/25/30	EUR	600		741
	APRR SA	1.500%	1/17/33	EUR	300		370
	APRR SA	1.625%	1/13/32	EUR	9,400		11,696
	APRR SA	1.875%	1/15/25	EUR	2,400		2,921
	APRR SA	1.875%	1/6/31	EUR	200		255
	Arkea Home Loans SFH SA	0.375%	3/4/24	EUR	1,000		1,146
	Arkea Home Loans SFH SA	0.750%	10/5/27	EUR	100		119
	Arkema SA	1.500%	1/20/25	EUR	400		477
	Arkema SA	1.500%	4/20/27	EUR	17,600		21,233
	Atos SE	1.750%	5/7/25	EUR	8,600		10,316
	Auchan Holding SADIR	0.625%	2/7/22	EUR	100		112
	Auchan Holding SADIR	1.750%	4/23/21	EUR	3,100		3,540
	Auchan Holding SADIR	2.375%	12/12/22	EUR	2,000		2,338
	Auchan Holding SADIR	2.375%	4/25/25	EUR	1,300		1,491
	Auchan Holding SADIR	2.625%	1/30/24	EUR	6,900		8,155
	Autoroutes du Sud de la France SA	1.000%	5/13/26	EUR	10,700		12,609
	Autoroutes du Sud de la France SA	1.125%	4/20/26	EUR	1,400		1,661
	Autoroutes du Sud de la France SA	1.250%	1/18/27	EUR	400		482
	Autoroutes du Sud de la France SA	1.375%	2/21/31	EUR	8,000		9,739
	Autoroutes du Sud de la France SA	2.875%	1/18/23	EUR	3,400		4,151
	Autoroutes du Sud de la France SA	2.950%	1/17/24	EUR	5,200		6,487
	Autoroutes du Sud de la France SA	5.625%	7/4/22	EUR	100		128
	AXA Bank Europe SCF	0.125%	3/14/22	EUR	1,000		1,127
	AXA Bank Europe SCF	0.375%	3/23/23	EUR	1,000		1,141
	AXA Bank Europe SCF	1.375%	4/18/33	EUR	15,600		19,886
	AXA SA	1.125%	5/15/28	EUR	700		853
1	AXA SA	3.250%	5/28/49	EUR	18,300		23,164
1	AXA SA	3.375%	7/6/47	EUR	28,850		36,653

38

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
1	AXA SA	3.875%	5/20/49	EUR	4,050		5,100
1	AXA SA	3.941%	11/29/49	EUR	1,930		2,411
1	AXA SA	5.125%	7/4/43	EUR	2,240		2,908
1	AXA SA	5.453%	12/31/49	GBP	150		218
1	AXA SA	5.625%	1/16/54	GBP	10,570		16,726
1	AXA SA	6.686%	7/29/49	GBP	1,800		2,787
	AXA SA	7.125%	12/15/20	GBP	6,290		8,655
	Banque Federative du Credit Mutuel SA	0.375%	1/13/22	EUR	2,000		2,253
	Banque Federative du Credit Mutuel SA	0.384%	10/11/24	JPY	200,000		1,865
	Banque Federative du Credit Mutuel SA	0.443%	10/12/23	JPY	400,000		3,735
	Banque Federative du Credit Mutuel SA	0.500%	11/16/22	EUR	17,000		19,266
	Banque Federative du Credit Mutuel SA	0.750%	6/15/23	EUR	63,100		72,215
	Banque Federative du Credit Mutuel SA	0.750%	7/17/25	EUR	5,200		5,986
	Banque Federative du Credit Mutuel SA	0.750%	6/8/26	EUR	16,800		19,323
	Banque Federative du Credit Mutuel SA	1.250%	1/14/25	EUR	44,800		52,788
	Banque Federative du Credit Mutuel SA	1.625%	1/19/26	EUR	10,500		12,720
	Banque Federative du Credit Mutuel SA	1.625%	11/15/27	EUR	4,800		5,656
	Banque Federative du Credit Mutuel SA	1.750%	12/19/24	GBP	5,000		6,583
	Banque Federative du Credit Mutuel SA	1.875%	11/4/26	EUR	5,600		6,693
	Banque Federative du Credit Mutuel SA	2.250%	12/18/23	GBP	6,500		8,724
	Banque Federative du Credit Mutuel SA	2.375%	3/24/26	EUR	21,200		25,990
	Banque Federative du Credit Mutuel SA	2.500%	5/25/28	EUR	5,000		6,269
	Banque Federative du Credit Mutuel SA	2.625%	2/24/21	EUR	16,000		18,500
	Banque Federative du Credit Mutuel SA	2.625%	3/18/24	EUR	10,000		12,398
	Banque Federative du Credit Mutuel SA	2.625%	3/31/27	EUR	1,100		1,389
	Banque Federative du Credit Mutuel SA	3.000%	11/28/23	EUR	8,200		10,263
	Banque Federative du Credit Mutuel SA	3.000%	5/21/24	EUR	19,324		23,952
	Banque Federative du Credit Mutuel SA	3.000%	9/11/25	EUR	5,000		6,333
	Banque Federative du Credit Mutuel SA	3.250%	8/23/22	EUR	6,300		7,700
1	BNP Paribas Cardif SA	4.032%	11/29/49	EUR	1,200		1,493
	BNP Paribas SA	0.500%	6/1/22	EUR	5,000		5,671
	BNP Paribas SA	1.000%	6/27/24	EUR	5,000		5,761
	BNP Paribas SA	1.125%	8/16/22	GBP	4,000		5,188
	BNP Paribas SA	1.125%	1/15/23	EUR	1,100		1,273
	BNP Paribas SA	1.125%	10/10/23	EUR	11,800		13,631
	BNP Paribas SA	1.125%	11/22/23	EUR	500		578
	BNP Paribas SA	1.125%	6/11/26	EUR	37,000		43,085
	BNP Paribas SA	1.250%	3/19/25	EUR	10,000		11,687
	BNP Paribas SA	1.500%	11/17/25	EUR	20,500		24,330
	BNP Paribas SA	2.125%	1/23/27	EUR	15,000		18,374
	BNP Paribas SA	2.250%	1/13/21	EUR	12,500		14,349
	BNP Paribas SA	2.375%	5/20/24	EUR	8,500		10,472
	BNP Paribas SA	2.375%	2/17/25	EUR	5,000		6,058
1	BNP Paribas SA	2.625%	10/14/27	EUR	4,100		4,863
	BNP Paribas SA	2.875%	10/24/22	EUR	5,000		6,071
	BNP Paribas SA	2.875%	9/26/23	EUR	5,550		6,882
1	BNP Paribas SA	2.875%	3/20/26	EUR	6,000		6,934
	BNP Paribas SA	2.875%	10/1/26	EUR	4,800		6,095
	BNP Paribas SA	3.375%	1/23/26	GBP	1,700		2,393
	BNP Paribas SA	4.125%	1/14/22	EUR	200		244
	BNP Paribas SA	4.500%	3/21/23	EUR	160		206
	Bouygues SA	1.375%	6/7/27	EUR	3,700		4,505
	Bouygues SA	3.625%	1/16/23	EUR	2,500		3,129
	Bouygues SA	4.500%	2/9/22	EUR	18,500		22,840

39

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Bouygues SA	5.500%	10/6/26	GBP	6,100		9,937
	BPCE SA	0.375%	10/5/23	EUR	14,100		15,934
	BPCE SA	0.625%	9/26/24	EUR	6,900		7,807
	BPCE SA	0.640%	1/27/22	JPY	1,700,000		15,821
	BPCE SA	0.875%	1/31/24	EUR	14,200		16,246
	BPCE SA	1.000%	7/15/24	EUR	8,500		9,883
	BPCE SA	1.000%	4/1/25	EUR	15,000		17,279
	BPCE SA	1.000%	10/5/28	EUR	10,000		11,794
	BPCE SA	1.125%	1/18/23	EUR	3,800		4,375
	BPCE SA	2.125%	3/17/21	EUR	9,100		10,472
1	BPCE SA	2.750%	7/8/26	EUR	4,000		4,644
1	BPCE SA	2.750%	11/30/27	EUR	5,100		6,098
	BPCE SA	2.875%	1/16/24	EUR	13,500		16,840
	BPCE SA	4.250%	2/6/23	EUR	100		127
	BPCE SA	4.500%	4/26/28	AUD	1,300		999
	BPCE SA	5.250%	4/16/29	GBP	3,000		4,801
	BPCE SFH SA	0.375%	2/10/23	EUR	5,100		5,823
	BPCE SFH SA	0.375%	2/21/24	EUR	12,700		14,563
	BPCE SFH SA	0.625%	9/22/27	EUR	5,000		5,876
	BPCE SFH SA	0.875%	4/13/28	EUR	12,100		14,509
	BPCE SFH SA	1.000%	6/8/29	EUR	4,600		5,591
	Caisse Francaise de Financement Local	0.500%	4/13/22	EUR	5,000		5,699
	Caisse Francaise de Financement Local	0.500%	1/19/26	EUR	1,500		1,742
	Caisse Francaise de Financement Local	0.625%	4/13/26	EUR	6,000		7,018
	Caisse Francaise de Financement Local	0.750%	1/11/27	EUR	8,000		9,475
	Caisse Francaise de Financement Local	1.250%	5/11/32	EUR	19,000		23,921
	Caisse Francaise de Financement Local	1.450%	1/16/34	EUR	5,000		6,485
	Caisse Francaise de Financement Local	1.500%	1/13/31	EUR	10,000		12,844
	Caisse Nationale de Reassurance Mutuelle Agricole Groupama	3.375%	9/24/28	EUR	5,600		6,849
	Caisse Nationale de Reassurance Mutuelle Agricole Groupama	6.000%	1/23/27	EUR	5,100		7,248
	Capgemini SE	0.500%	11/9/21	EUR	200		225
	Capgemini SE	1.000%	10/18/24	EUR	300		347
	Capgemini SE	1.750%	4/18/28	EUR	9,300		11,486
	Capgemini SE	2.500%	7/1/23	EUR	6,000		7,236
	Carmila SA	2.125%	3/7/28	EUR	1,500		1,765
	Carmila SA	2.375%	9/16/24	EUR	4,100		4,937
	Carrefour SA	0.750%	4/26/24	EUR	9,100		10,364
	Carrefour SA	0.875%	6/12/23	EUR	200		227
	Carrefour SA	1.250%	6/3/25	EUR	17,103		19,973
	Carrefour SA	1.750%	5/4/26	EUR	1,000		1,197
	Cie de Financement Foncier SA	0.375%	12/11/24	EUR	1,500		1,726
	Cie de Financement Foncier SA	0.375%	4/9/27	EUR	5,000		5,769
	Cie de Financement Foncier SA	0.750%	5/29/26	EUR	2,100		2,481
	Cie de Financement Foncier SA	0.750%	1/11/28	EUR	11,000		13,071
	Cie de Saint-Gobain	1.000%	3/17/25	EUR	900		1,046
	Cie de Saint-Gobain	1.875%	9/21/28	EUR	100		125
	Cie de Saint-Gobain	1.875%	3/15/31	EUR	11,500		14,260
	Cie Financiere et Industrielle des Autoroutes SA	0.375%	2/7/25	EUR	7,700		8,748
	Cie Financiere et Industrielle des Autoroutes SA	1.125%	10/13/27	EUR	1,000		1,199

40

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Cie Generale des Etablissements Michelin SCA	2.500%	9/3/38	EUR	5,100		7,324
1	CNP Assurances	4.500%	6/10/47	EUR	4,600		6,148
	Compagnie De St. Gobain SA	3.625%	3/28/22	EUR	4,900		5,949
	Compagnie Financiere et Industrielle des Autoroutes SA	5.000%	5/24/21	EUR	17,400		20,942
	Covivio	1.875%	5/20/26	EUR	300		363
1	Credit Agricole Assurances SA	4.250%	12/31/49	EUR	3,000		3,682
1	Credit Agricole Assurances SA	4.750%	9/27/48	EUR	6,600		8,853
	Credit Agricole Public Sector SCF SA	0.500%	10/10/25	EUR	21,600		25,080
	Credit Agricole Public Sector SCF SA	0.625%	3/29/29	EUR	14,000		16,419
	Credit Agricole SA	0.443%	6/9/22	JPY	500,000		4,680
	Credit Agricole SA	0.750%	12/1/22	EUR	5,000		5,725
	Credit Agricole SA	0.875%	1/19/22	EUR	12,400		14,141
	Credit Agricole SA	1.000%	9/16/24	EUR	2,000		2,329
	Credit Agricole SA	1.000%	7/3/29	EUR	27,000		31,664
	Credit Agricole SA	1.375%	5/3/27	EUR	1,200		1,448
	Credit Agricole SA	1.750%	3/5/29	EUR	8,000		9,800
	Credit Agricole SA	1.875%	12/20/26	EUR	10,100		12,367
	Credit Agricole SA	2.000%	3/25/29	EUR	4,600		5,524
	Credit Agricole SA	2.375%	11/27/20	EUR	2,000		2,294
	Credit Agricole SA	2.375%	5/20/24	EUR	9,000		11,090
	Credit Agricole SA	2.625%	3/17/27	EUR	20,100		25,276
	Credit Agricole SA	3.125%	7/17/23	EUR	700		874
	Credit Agricole SA	3.125%	2/5/26	EUR	4,100		5,409
	Credit Agricole SA	3.900%	4/19/21	EUR	100		118
	Credit Agricole SA	7.375%	12/18/23	GBP	800		1,271
	Credit Mutuel - CIC Home Loan SFH SA	1.750%	6/19/24	EUR	30,000		36,632
	Credit Mutuel Arkea SA	1.000%	1/26/23	EUR	8,500		9,785
	Credit Mutuel Arkea SA	1.125%	5/23/29	EUR	2,300		2,692
	Credit Mutuel Arkea SA	1.250%	5/31/24	EUR	21,500		24,927
1	Credit Mutuel Arkea SA	1.875%	10/25/29	EUR	100		114
	Credit Mutuel Arkea SA	3.375%	3/11/31	EUR	3,000		3,890
	Credit Mutuel Arkea SA	3.500%	2/9/29	EUR	19,700		25,682
	Danone SA	0.167%	11/3/20	EUR	27,400		30,653
	Danone SA	0.424%	11/3/22	EUR	6,300		7,123
	Danone SA	0.709%	11/3/24	EUR	600		691
	Danone SA	1.208%	11/3/28	EUR	5,000		6,080
	Danone SA	1.250%	5/30/24	EUR	200		236
	Danone SA	2.250%	11/15/21	EUR	2,000		2,327
	Danone SA	2.600%	6/28/23	EUR	5,700		6,977
	Danone SA	3.600%	11/23/20	EUR	500		580
	Dassault Systemes SE	0.125%	9/16/26	EUR	5,000		5,565
	Dassault Systemes SE	0.375%	9/16/29	EUR	10,000		11,122
	Edenred	1.375%	3/10/25	EUR	100		118
	Engie Alliance GIE	5.750%	6/24/23	EUR	5,988		8,082
	Engie SA	0.500%	3/13/22	EUR	15,200		17,177
	Engie SA	0.875%	3/27/24	EUR	2,100		2,433
	Engie SA	0.875%	9/19/25	EUR	13,500		15,757
	Engie SA	1.375%	6/22/28	EUR	1,700		2,073
	Engie SA	1.375%	2/28/29	EUR	8,700		10,610
	Engie SA	1.375%	6/21/39	EUR	8,000		9,515
1	Engie SA	1.375%	12/31/49	EUR	5,100		5,740
	Engie SA	2.000%	9/28/37	EUR	100		132

41

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Engie SA	2.375%	5/19/26	EUR	200		257
	Engie SA	2.625%	7/20/22	EUR	800		959
	Engie SA	3.000%	2/1/23	EUR	4,000		4,905
1	Engie SA	3.875%	6/2/49	EUR	3,700		4,630
	Engie SA	5.000%	10/1/60	GBP	3,550		8,005
	Engie SA	5.950%	3/16/11	EUR	6,172		13,132
	Engie SA	6.375%	1/18/21	EUR	30		36
	Engie SA	7.000%	10/30/28	GBP	3,450		6,556
	Eutelsat SA	2.000%	10/2/25	EUR	9,500		11,147
	Eutelsat SA	2.250%	7/13/27	EUR	3,000		3,524
	Gecina SA	1.000%	1/30/29	EUR	2,300		2,699
	Gecina SA	1.375%	6/30/27	EUR	100		121
	Gecina SA	1.375%	1/26/28	EUR	1,100		1,331
	Gecina SA	1.500%	1/20/25	EUR	9,200		10,997
	GELF Bond Issuer I SA	1.125%	7/18/29	EUR	200		224
	Holding d’Infrastructures de Transport SAS	1.625%	11/27/27	EUR	2,400		2,803
	Holding d’Infrastructures de Transport SAS	2.250%	3/24/25	EUR	4,300		5,168
	Holding d’Infrastructures de Transport SAS	4.875%	10/27/21	EUR	1,700		2,078
	HSBC France SA	0.100%	9/3/27	EUR	10,000		10,970
	HSBC France SA	0.200%	9/4/21	EUR	19,000		21,309
	HSBC France SA	0.250%	5/17/24	EUR	3,000		3,375
	HSBC France SA	0.625%	12/3/20	EUR	100		113
	ICADE	1.125%	11/17/25	EUR	10,700		12,497
	ICADE	1.875%	9/14/22	EUR	100		117
	Imerys SA	0.875%	3/31/22	EUR	600		678
	Imerys SA	1.500%	1/15/27	EUR	1,100		1,268
	Imerys SA	2.000%	12/10/24	EUR	600		715
	Indigo Group SAS	1.625%	4/19/28	EUR	500		599
	JCDecaux SA	1.000%	6/1/23	EUR	10,000		11,474
	Kering SA	1.250%	5/10/26	EUR	9,300		11,175
	Klepierre SA	0.625%	7/1/30	EUR	6,000		6,652
	Klepierre SA	1.000%	4/17/23	EUR	2,100		2,416
	Klepierre SA	1.250%	9/29/31	EUR	200		236
	Klepierre SA	1.375%	2/16/27	EUR	1,200		1,434
	Klepierre SA	1.875%	2/19/26	EUR	7,600		9,271
1	La Mondiale SAM	5.050%	12/31/49	EUR	2,800		3,595
	Legrand SA	0.750%	7/6/24	EUR	200		231
	Legrand SA	1.000%	3/6/26	EUR	100		117
	Legrand SA	1.875%	12/16/27	EUR	100		123
	Legrand SA	1.875%	7/6/32	EUR	1,300		1,665
	Legrand SA	3.375%	4/19/22	EUR	300		363
	LVMH Moet Hennessy Louis Vuitton SE	0.375%	5/26/22	EUR	750		846
	LVMH Moet Hennessy Louis Vuitton SE	0.750%	5/26/24	EUR	10,077		11,631
	LVMH Moet Hennessy Louis Vuitton SE	1.000%	9/24/21	EUR	2,000		2,276
	LVMH Moet Hennessy Louis Vuitton SE	1.000%	6/14/22	GBP	9,000		11,698
	LVMH Moet Hennessy Louis Vuitton SE	1.750%	11/13/20	EUR	100		114
	Mercialys SA	1.787%	3/31/23	EUR	5,100		5,782
	Michelin Luxembourg SCS	1.125%	5/28/22	EUR	200		230
	Michelin Luxembourg SCS	1.750%	5/28/27	EUR	100		124
	MMS USA Financing Inc.	0.625%	6/13/25	EUR	12,200		13,514
	MMS USA Financing Inc.	1.250%	6/13/28	EUR	200		226
	Orange SA	0.500%	1/15/22	EUR	500		565
	Orange SA	0.750%	9/11/23	EUR	1,800		2,062
	Orange SA	0.875%	2/3/27	EUR	1,500		1,748

42

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Orange SA	1.000%	5/12/25	EUR	10,100		11,792
	Orange SA	1.000%	9/12/25	EUR	10,200		11,928
	Orange SA	1.125%	7/15/24	EUR	19,100		22,317
	Orange SA	1.375%	3/20/28	EUR	21,000		25,344
	Orange SA	1.375%	1/16/30	EUR	2,400		2,905
	Orange SA	1.875%	9/12/30	EUR	37,100		47,228
	Orange SA	2.000%	1/15/29	EUR	200		254
	Orange SA	2.500%	3/1/23	EUR	200		242
	Orange SA	3.125%	1/9/24	EUR	300		378
	Orange SA	3.250%	1/15/32	GBP	10,000		14,571
	Orange SA	3.375%	9/16/22	EUR	1,800		2,216
	Orange SA	3.875%	1/14/21	EUR	200		234
1	Orange SA	4.000%	12/31/49	EUR	18,600		22,200
	Orange SA	5.000%	10/1/66	EUR	7,500		10,119
	Orange SA	5.250%	12/5/25	GBP	3,900		6,192
1	Orange SA	5.250%	12/ 31/49	EUR	12,050		15,698
	Orange SA	5.625%	1/23/34	GBP	400		736
1	Orange SA	5.750%	12/31/49	GBP	7,000		10,025
1	Orange SA	5.875%	12/31/49	GBP	8,600		12,059
	Orange SA	7.250%	11/10/20	GBP	400		551
	Orange SA	8.125%	11/20/28	GBP	6,500		12,834
	Orange SA	8.125%	1/28/33	EUR	600		1,270
	Pernod Ricard SA	1.500%	5/18/26	EUR	3,000		3,604
	Peugeot SA	2.000%	3/20/25	EUR	3,700		4,415
	PSA Tresorerie GIE	6.000%	9/19/33	EUR	3,950		6,421
	Publicis Groupe SA	0.500%	11/3/23	EUR	400		450
	Publicis Groupe SA	1.125%	12/16/21	EUR	10,000		11,385
	Publicis Groupe SA	1.625%	12/16/24	EUR	5,200		6,151
	RCI Banque SA	0.250%	7/12/21	EUR	900		1,006
	RCI Banque SA	0.625%	11/10/21	EUR	1,967		2,210
	RCI Banque SA	0.750%	1/12/22	EUR	900		1,012
	RCI Banque SA	0.750%	9/26/22	EUR	10,300		11,582
	RCI Banque SA	1.000%	5/17/23	EUR	6,400		7,221
	RCI Banque SA	1.375%	11/17/20	EUR	4,000		4,525
	RCI Banque SA	1.375%	3/8/24	EUR	11,000		12,564
	RCI Banque SA	1.625%	4/11/25	EUR	9,400		10,792
	RCI Banque SA	1.625%	5/26/26	EUR	1,300		1,470
	RCI Banque SA	1.750%	4/10/26	EUR	2,275		2,596
	RCI Banque SA	1.875%	11/8/22	GBP	1,800		2,350
	Renault SA	1.000%	3/8/23	EUR	600		679
	Renault SA	1.000%	4/18/24	EUR	5,700		6,360
	Renault SA	1.250%	6/24/25	EUR	12,000		13,323
	Renault SA	2.000%	9/28/26	EUR	200		231
	Renault SA	3.125%	3/5/21	EUR	2,125		2,467
	Sanef SA	0.950%	10/19/28	EUR	3,600		4,022
	Sanofi	0.000%	9/13/22	EUR	6,000		6,731
	Sanofi	0.500%	3/21/23	EUR	14,500		16,515
	Sanofi	0.500%	1/13/27	EUR	500		576
	Sanofi	0.875%	9/22/21	EUR	700		796
	Sanofi	1.125%	4/5/28	EUR	10,400		12,546
	Sanofi	1.375%	3/21/30	EUR	18,800		23,339
	Sanofi	1.750%	9/10/26	EUR	7,000		8,688
	Sanofi	1.875%	3/21/38	EUR	7,200		9,806
	Sanofi	2.500%	11/14/23	EUR	5,000		6,135

43

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Schneider Electric SE	0.250%	9/9/24	EUR	1,000		1,128
	Schneider Electric SE	0.875%	3/11/25	EUR	3,200		3,730
	Schneider Electric SE	1.500%	9/8/23	EUR	400		472
	Schneider Electric SE	1.500%	1/15/28	EUR	11,000		13,495
	Schneider Electric SE	2.500%	9/6/21	EUR	1,100		1,287
1	SCOR SE	3.000%	6/8/46	EUR	1,000		1,252
1	SCOR SE	3.625%	5/27/48	EUR	6,500		8,655
	Societe Generale SA	0.250%	1/18/22	EUR	24,600		27,635
	Societe Generale SA	0.448%	5/26/22	JPY	900,000		8,335
	Societe Generale SA	0.750%	11/25/20	EUR	10,000		11,269
	Societe Generale SA	0.750%	5/26/23	EUR	5,000		5,721
	Societe Generale SA	0.875%	7/1/26	EUR	8,000		9,076
	Societe Generale SA	1.000%	4/1/22	EUR	10,000		11,410
	Societe Generale SA	1.125%	1/23/25	EUR	14,300		16,453
	Societe Generale SA	1.250%	2/15/24	EUR	31,000		35,869
	Societe Generale SA	1.750%	3/22/29	EUR	8,000		9,687
	Societe Generale SA	2.125%	9/27/28	EUR	11,000		13,725
	Societe Generale SA	2.625%	2/27/25	EUR	100		122
	Societe Generale SA	4.000%	6/7/23	EUR	4,400		5,518
	Societe Generale SA	4.250%	7/13/22	EUR	2,500		3,112
	Societe Generale SA	4.750%	3/2/21	EUR	1,000		1,188
	Societe Generale SFH SA	0.250%	9/11/23	EUR	1,100		1,253
	Societe Generale SFH SA	0.500%	1/20/23	EUR	1,700		1,947
	Societe Generale SFH SA	0.500%	1/30/25	EUR	9,000		10,428
	Societe Generale SFH SA	0.500%	1/28/26	EUR	11,200		13,010
	Sodexo SA	2.500%	6/24/26	EUR	600		768
1	Sogecap SA	4.125%	12/31/49	EUR	100		123
	Suez	1.000%	4/3/25	EUR	10,200		11,953
	Suez	1.500%	4/3/29	EUR	9,700		11,952
	Suez	1.625%	9/17/30	EUR	600		753
	Suez	1.750%	9/10/25	EUR	500		611
	Suez	2.750%	10/9/23	EUR	3,000		3,722
	Suez	4.078%	5/17/21	EUR	2,100		2,497
	Suez	4.125%	6/24/22	EUR	400		498
	Suez	5.500%	7/22/24	EUR	7,750		10,951
	TDF Infrastructure SAS	2.500%	4/7/26	EUR	800		948
	TDF Infrastructure SAS	2.875%	10/19/22	EUR	21,200		25,063
	Terega SA	2.200%	8/5/25	EUR	100		122
	Total Capital Canada Ltd.	1.125%	3/18/22	EUR	13,000		14,953
	Total Capital Canada Ltd.	2.125%	9/18/29	EUR	10,400		13,697
	Total Capital International SA	0.250%	7/12/23	EUR	8,900		10,058
	Total Capital International SA	0.625%	10/4/24	EUR	11,800		13,623
	Total Capital International SA	0.696%	5/31/28	EUR	22,400		26,085
	Total Capital International SA	1.375%	3/19/25	EUR	13,600		16,307
	Total Capital International SA	1.491%	9/4/30	EUR	1,000		1,244
	Total Capital International SA	1.535%	5/31/39	EUR	2,000		2,495
	Total Capital International SA	1.750%	7/7/25	GBP	9,263		12,329
	Total Capital International SA	2.125%	11/19/21	EUR	3,900		4,557
	Total Capital International SA	2.125%	3/15/23	EUR	4,000		4,803
	Total Capital International SA	2.250%	6/9/22	GBP	2,782		3,724
	Total Capital International SA	2.500%	3/25/26	EUR	4,400		5,681
	Total Capital International SA	2.875%	11/19/25	EUR	7,900		10,336
	Total Capital International SA	4.250%	11/26/21	AUD	3,898		2,844
1	Total SA	1.750%	12/31/49	EUR	100		115

44

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
1	Total SA	2.625%	12/29/49	EUR	18,750		22,604
1	Total SA	2.708%	12/31/49	EUR	13,600		16,201
1	Total SA	3.369%	12/31/49	EUR	7,200		9,171
1	Total SA	3.875%	12/31/49	EUR	8,500		10,275
	Transport et Infrastructures Gaz France SA	4.339%	7/7/21	EUR	2,000		2,390
	UMG Groupe VYV	1.625%	7/2/29	EUR	3,000		3,484
	Unibail-Rodamco SE	1.000%	3/14/25	EUR	10,000		11,663
	Unibail-Rodamco SE	1.000%	2/27/27	EUR	10,500		12,189
	Unibail-Rodamco SE	1.125%	9/15/25	EUR	11,400		13,310
	Unibail-Rodamco SE	1.375%	3/9/26	EUR	584		696
	Unibail-Rodamco SE	1.375%	4/15/30	EUR	7,500		8,949
	Unibail-Rodamco SE	1.500%	5/29/29	EUR	300		362
	Unibail-Rodamco SE	1.875%	1/15/31	EUR	15,000		18,677
	Unibail-Rodamco SE	2.000%	4/28/36	EUR	1,300		1,654
1	Unibail-Rodamco SE	2.125%	12/31/49	EUR	5,000		5,712
	Unibail-Rodamco SE	2.250%	5/14/38	EUR	1,000		1,314
	Unibail-Rodamco SE	2.375%	2/25/21	EUR	2,000		2,305
	Unibail-Rodamco SE	2.500%	2/26/24	EUR	1,890		2,334
	Unibail-Rodamco SE	2.500%	6/4/26	EUR	500		636
1	Unibail-Rodamco SE	2.875%	12/31/49	EUR	5,000		5,915
	Unibail-Rodamco-Westfield SE	1.750%	7/1/49	EUR	7,300		8,338
	Valeo SA	0.625%	1/11/23	EUR	11,000		12,416
	Valeo SA	1.500%	6/18/25	EUR	8,000		9,385
	Veolia Environnement SA	0.672%	3/30/22	EUR	400		453
	Veolia Environnement SA	0.892%	1/14/24	EUR	12,800		14,765
	Veolia Environnement SA	0.927%	1/4/29	EUR	5,000		5,844
	Veolia Environnement SA	1.590%	1/10/28	EUR	6,100		7,499
	Veolia Environnement SA	4.247%	1/6/21	EUR	3,100		3,635
	Veolia Environnement SA	4.625%	3/30/27	EUR	9,200		13,624
	Veolia Environnement SA	5.125%	5/24/22	EUR	100		126
	Veolia Environnement SA	6.125%	11/25/33	EUR	2,380		4,572
	Veolia Environnement SA	6.125%	10/29/37	GBP	3,050		6,229
	Vinci SA	1.000%	9/26/25	EUR	5,000		5,870
	Vinci SA	1.625%	1/18/29	EUR	2,500		3,114
	Vinci SA	1.750%	9/26/30	EUR	6,800		8,594
	Vinci SA	2.250%	3/15/27	GBP	1,000	��	1,371
	Vinci SA	2.750%	9/15/34	GBP	1,000		1,445
	Vivendi SA	0.750%	5/26/21	EUR	5,000		5,644
	Vivendi SA	1.125%	12/11/28	EUR	10,000		11,502
	Vivendi SA	1.875%	5/26/26	EUR	400		486
							3,121,443
Sovereign Bonds (9.0%)
	Aeroports de Paris	1.125%	6/18/34	EUR	3,000		3,565
	Aeroports de Paris	1.500%	7/24/23	EUR	5,000		5,883
	Aeroports de Paris	1.500%	4/7/25	EUR	4,000		4,804
	Aeroports de Paris	2.125%	10/11/38	EUR	7,400		10,002
	Aeroports de Paris	2.750%	6/5/28	EUR	1,000		1,358
	Aeroports de Paris	3.125%	6/11/24	EUR	2,000		2,556
	Agence Francaise de Developpement EPIC	0.125%	3/31/21	EUR	10,000		11,227
	Agence Francaise de Developpement EPIC	0.125%	4/30/22	EUR	28,000		31,605
	Agence Francaise de Developpement EPIC	0.125%	11/15/23	EUR	8,000		9,078
	Agence Francaise de Developpement EPIC	0.250%	7/21/26	EUR	12,100		13,795
	Agence Francaise de Developpement EPIC	0.250%	6/29/29	EUR	17,800		20,139
	Agence Francaise de Developpement EPIC	0.375%	4/30/24	EUR	34,000		38,958

45

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Agence Francaise de Developpement EPIC	0.500%	10/31/25	EUR	10,000		11,586
	Agence Francaise de Developpement EPIC	1.000%	1/31/28	EUR	5,000		6,034
	Agence Francaise de Developpement EPIC	1.375%	9/17/24	EUR	20,500		24,636
	Agence Francaise de Developpement EPIC	1.375%	7/5/32	EUR	15,000		18,975
	Agence Francaise de Developpement EPIC	2.125%	2/15/21	EUR	35,000		40,287
	Agence Francaise de Developpement EPIC	2.250%	5/27/25	EUR	10,000		12,668
	Agence Francaise de Developpement EPIC	3.750%	2/15/27	EUR	3,600		5,133
	Agence France Locale	0.500%	6/20/24	EUR	9,500		10,946
	Bpifrance Financement SA	0.100%	2/19/21	EUR	4,900		5,500
	Bpifrance Financement SA	0.125%	11/25/20	EUR	15,000		16,812
	Bpifrance Financement SA	0.250%	2/14/23	EUR	20,000		22,743
	Bpifrance Financement SA	0.500%	5/25/25	EUR	10,000		11,568
	Bpifrance Financement SA	0.750%	10/25/21	EUR	47,600		54,211
	Bpifrance Financement SA	0.750%	11/25/24	EUR	15,000		17,539
	Bpifrance Financement SA	2.500%	5/25/24	EUR	10,000		12,565
	Bpifrance Financement SA	2.750%	10/25/25	EUR	28,000		36,655
	Caisse d’Amortissement de la Dette Sociale	0.050%	11/25/20	EUR	94,000		105,373
	Caisse d’Amortissement de la Dette Sociale	0.125%	11/25/22	EUR	61,200		69,480
	Caisse d’Amortissement de la Dette Sociale	0.500%	5/25/23	EUR	90,000		103,725
	Caisse d’Amortissement de la Dette Sociale	1.375%	11/25/24	EUR	15,000		18,199
	Caisse d’Amortissement de la Dette Sociale	2.375%	1/25/24	EUR	43,500		54,459
	Caisse d’Amortissement de la Dette Sociale	2.500%	10/25/22	EUR	3,000		3,644
	Caisse d’Amortissement de la Dette Sociale	3.750%	10/25/20	EUR	2,000		2,322
	Caisse d’Amortissement de la Dette Sociale	4.000%	12/15/25	EUR	8,000		11,286
	Caisse d’Amortissement de la Dette Sociale	4.125%	4/25/23	EUR	5,000		6,473
	Caisse d’Amortissement de la Dette Sociale	4.375%	10/25/21	EUR	8,000		9,783
	Coentreprise de Transport d’Electricite SA	2.125%	7/29/32	EUR	16,400		21,190
4	Dexia Credit Local SA	0.625%	1/17/26	EUR	3,000		3,499
4	Dexia Credit Local SA	1.125%	6/15/22	GBP	2,300		2,997
4	Dexia Credit Local SA	2.000%	1/22/21	EUR	8,000		9,180
	Electricite de France SA	1.000%	10/13/26	EUR	21,300		25,023
	Electricite de France SA	1.875%	10/13/36	EUR	14,700		18,476
	Electricite de France SA	2.250%	4/27/21	EUR	7,000		8,085
	Electricite de France SA	2.750%	3/10/23	EUR	20,300		24,722
	Electricite de France SA	3.875%	1/18/22	EUR	3,100		3,753
	Electricite de France SA	4.000%	11/12/25	EUR	2,150		2,956
	Electricite de France SA	4.125%	3/25/27	EUR	4,100		5,829
1	Electricite de France SA	4.125%	1/29/49	EUR	6,000		7,125
	Electricite de France SA	4.500%	11/12/40	EUR	3,900		6,756
	Electricite de France SA	4.625%	9/11/24	EUR	5,000		6,813
	Electricite de France SA	4.625%	4/26/30	EUR	200		312
1	Electricite de France SA	5.000%	1/22/49	EUR	3,000		3,792
1	Electricite de France SA	5.375%	1/29/49	EUR	3,400		4,348
	Electricite de France SA	5.500%	3/27/37	GBP	2,800		5,139
	Electricite de France SA	5.500%	10/17/41	GBP	9,200		17,410
	Electricite de France SA	5.625%	2/21/33	EUR	12,805		22,456
	Electricite de France SA	5.875%	7/18/31	GBP	3,500		6,315
1	Electricite de France SA	5.875%	7/22/49	GBP	2,500		3,499
1	Electricite de France SA	6.000%	12/29/49	GBP	3,800		5,360
	Electricite de France SA	6.000%	1/23/14	GBP	9,900		20,674
	Electricite de France SA	6.125%	6/2/34	GBP	27,000		50,994
	Electricite de France SA	6.250%	1/25/21	EUR	7,200		8,665
	French Republic	0.000%	5/25/21	EUR	486,250		547,609
	French Republic	0.000%	2/25/22	EUR	100,000		113,123
	French Republic	0.000%	5/25/22	EUR	161,500		183,047

46

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	French Republic	0.000%	3/25/24	EUR	500,000		570,701
	French Republic	0.000%	3/25/25	EUR	180,000		205,486
	French Republic	0.250%	11/25/20	EUR	166,000		186,843
	French Republic	0.250%	11/25/26	EUR	200,000		232,379
	French Republic	0.500%	5/25/25	EUR	142,940		167,876
	French Republic	0.500%	5/25/26	EUR	402,000		474,238
	French Republic	0.500%	5/25/29	EUR	300,000		355,374
	French Republic	0.750%	5/25/28	EUR	338,000		409,049
	French Republic	0.750%	11/25/28	EUR	511,207		619,023
	French Republic	1.000%	11/25/25	EUR	235,000		284,632
	French Republic	1.000%	5/25/27	EUR	385,707		472,950
	French Republic	1.250%	5/25/34	EUR	298,850		385,738
2	French Republic	1.250%	5/25/36	EUR	158,200		204,450
	French Republic	1.500%	5/25/31	EUR	241,333		316,563
2	French Republic	1.500%	5/25/50	EUR	220,031		298,937
	French Republic	1.750%	5/25/23	EUR	718,408		869,037
	French Republic	1.750%	11/25/24	EUR	153,840		191,130
2	French Republic	1.750%	6/25/39	EUR	135,050		189,650
2	French Republic	1.750%	5/25/66	EUR	91,902		137,976
2	French Republic	2.000%	5/25/48	EUR	45,710		69,010
	French Republic	2.250%	10/25/22	EUR	211,840		256,696
	French Republic	2.250%	5/25/24	EUR	92,000		115,745
	French Republic	2.500%	10/25/20	EUR	229,170		263,361
	French Republic	2.500%	5/25/30	EUR	71,650		101,883
	French Republic	3.000%	4/25/22	EUR	110,420		134,329
	French Republic	3.250%	10/25/21	EUR	90,450		108,660
	French Republic	3.250%	5/25/45	EUR	180,485		330,813
	French Republic	3.500%	4/25/26	EUR	112,000		156,880
	French Republic	3.750%	4/25/21	EUR	72,005		85,516
	French Republic	4.000%	10/25/38	EUR	157,820		295,488
	French Republic	4.000%	4/25/55	EUR	63,690		142,677
	French Republic	4.000%	4/25/60	EUR	37,250		87,749
	French Republic	4.250%	10/25/23	EUR	110,770		147,602
	French Republic	4.500%	4/25/41	EUR	160,015		328,766
	French Republic	4.750%	4/25/35	EUR	61,979		117,533
	French Republic	5.500%	4/25/29	EUR	66,700		114,877
	French Republic	5.750%	10/25/32	EUR	109,810		213,459
	French Republic	6.000%	10/25/25	EUR	55,000		85,149
	French Republic	8.250%	4/25/22	EUR	14,000		19,082
	French Republic	8.500%	4/25/23	EUR	400		589
	La Banque Postale SA	1.000%	10/16/24	EUR	5,000		5,765
	La Banque Postale SA	1.375%	4/24/29	EUR	10,000		11,872
	La Banque Postale SA	2.000%	7/13/28	EUR	9,500		11,895
1	La Banque Postale SA	2.750%	4/23/26	EUR	2,000		2,310
1	La Banque Postale SA	2.750%	11/19/27	EUR	4,000		4,759
	La Banque Postale SA	3.000%	6/9/28	EUR	2,000		2,633
	La Poste SA	1.000%	9/17/34	EUR	5,000		5,677
	La Poste SA	1.125%	6/4/25	EUR	10,000		11,774
	La Poste SA	1.450%	11/30/28	EUR	2,100		2,558
	La Poste SA	2.750%	11/26/24	EUR	4,200		5,316
	Regie Autonome des Transports Parisiens	0.875%	5/25/27	EUR	3,000		3,579
	Region of Ile de France	0.500%	6/14/25	EUR	15,000		17,456
	Region of Ile de France	0.625%	4/23/27	EUR	5,000		5,859
	Region of Ile de France	1.375%	3/14/29	EUR	100		125
	Region of Ile de France	1.375%	6/20/33	EUR	6,000		7,670

47

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Region of Ile de France	2.250%	6/10/23	EUR	900		1,100
	Region of Ile de France	3.625%	3/27/24	EUR	13,300		17,420
	RTE Reseau de Transport d’Electricite SADIR	1.875%	10/23/37	EUR	5,000		6,629
	RTE Reseau de Transport d’Electricite SADIR	2.000%	4/18/36	EUR	500		672
	RTE Reseau de Transport d’Electricite SADIR	2.125%	9/27/38	EUR	25,000		34,453
	RTE Reseau de Transport d’Electricite SADIR	2.750%	6/20/29	EUR	2,400		3,292
	RTE Reseau de Transport d’Electricite SADIR	4.125%	2/3/21	EUR	1,400		1,646
	SA de Gestion de Stocks de Securite	0.625%	5/25/23	EUR	12,000		13,872
	SNCF Mobilites	1.500%	2/2/29	EUR	14,000		17,554
	SNCF Mobilities	4.125%	2/19/25	EUR	700		958
	SNCF Mobilities	4.875%	6/12/23	EUR	5,700		7,565
	SNCF Mobilites	5.375%	3/18/27	GBP	8,069		13,512
	SNCF Reseau EPIC	0.100%	5/27/21	EUR	31,000		34,827
	SNCF Reseau EPIC	0.750%	5/25/36	EUR	15,100		17,255
	SNCF Reseau EPIC	1.000%	11/9/31	EUR	10,000		12,098
	SNCF Reseau EPIC	1.125%	5/25/30	EUR	28,100		34,471
	SNCF Reseau EPIC	1.500%	5/29/37	EUR	18,000		23,174
	SNCF Reseau EPIC	2.000%	2/5/48	EUR	5,000		6,942
	SNCF Reseau EPIC	2.250%	12/20/47	EUR	12,500		18,302
7	SNCF Reseau EPIC	2.625%	12/29/25	EUR	4,800		6,258
	SNCF Reseau EPIC	3.125%	10/25/28	EUR	7,000		9,944
	SNCF Reseau EPIC	4.250%	10/7/26	EUR	1,500		2,178
	SNCF Reseau EPIC	4.375%	6/2/22	EUR	15,000		18,784
	SNCF Reseau EPIC	4.830%	3/25/60	GBP	1,400		3,317
	SNCF Reseau EPIC	5.000%	10/10/33	EUR	15,400		27,786
	SNCF Reseau EPIC	5.000%	3/11/52	GBP	3,725		8,442
	SNCF Reseau EPIC	5.250%	12/7/28	GBP	17,000		29,657
	SNCF Reseau EPIC	5.250%	1/31/35	GBP	1,400		2,707
	SNCF Reseau EPIC	5.500%	12/1/21	GBP	7,000		9,912
	SNCF Reseau EPIC	6.000%	10/12/20	EUR	9,000		10,633
	Societe Du Grand Paris EPIC	1.125%	10/22/28	EUR	1,200		1,472
	Societe Du Grand Paris EPIC	1.125%	5/25/34	EUR	24,000		29,555
	Societe Du Grand Paris EPIC	1.700%	5/25/50	EUR	5,000		6,752
7	UNEDIC ASSEO	0.000%	11/25/20	EUR	9,000		10,086
	UNEDIC ASSEO	0.125%	5/25/22	EUR	10,000		11,294
	UNEDIC ASSEO	0.125%	11/25/24	EUR	55,000		62,362
	UNEDIC ASSEO	0.250%	11/24/23	EUR	20,000		22,931
7	UNEDIC ASSEO	0.300%	11/4/21	EUR	5,000		5,656
7	UNEDIC ASSEO	0.500%	3/20/29	EUR	25,000		29,243
7	UNEDIC ASSEO	0.625%	2/17/25	EUR	25,000		29,216
7	UNEDIC ASSEO	0.625%	3/3/26	EUR	10,000		11,759
7	UNEDIC ASSEO	0.875%	10/25/22	EUR	22,200		25,709
7	UNEDIC ASSEO	1.250%	10/21/27	EUR	1,500		1,858
7	UNEDIC ASSEO	1.250%	5/25/33	EUR	2,000		2,535
7	UNEDIC ASSEO	1.500%	4/16/21	EUR	36,000		41,277
7	UNEDIC ASSEO	1.500%	4/20/32	EUR	1,200		1,561
7	UNEDIC ASSEO	2.250%	4/5/23	EUR	7,000		8,519
	UNEDIC ASSEO	2.375%	5/25/24	EUR	3,000		3,762
							12,532,770
Total France (Cost $16,002,520)							16,647,184

48

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Germany (9.6%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.5%)
	Aareal Bank AG	0.125%	2/1/24	EUR	5,000		5,677
	Bayerische Landesbank	0.350%	12/1/22	EUR	5,000		5,697
	Bayerische Landesbank	0.500%	3/19/25	EUR	10,000		11,619
	Bayerische Landesbank	1.000%	7/9/21	EUR	250		285
	Bayerische Landesbank	1.250%	12/20/21	GBP	2,700		3,509
	Bayerische Landesbank	1.625%	4/18/23	EUR	5,000		5,958
	Bayerische Landesbank	2.000%	7/11/22	EUR	700		831
	Berlin Hyp AG	0.000%	11/29/21	EUR	1,000		1,124
	Berlin Hyp AG	0.125%	10/23/23	EUR	25,500		28,930
	Berlin Hyp AG	0.375%	5/3/24	EUR	7,810		8,976
	Berlin Hyp AG	1.250%	4/23/21	EUR	6,000		6,851
	Commerzbank AG	0.250%	1/26/22	EUR	4,000		4,524
	Commerzbank AG	0.500%	6/9/26	EUR	15,000		17,487
	Commerzbank AG	0.625%	3/13/25	EUR	9,200		10,750
	Commerzbank AG	0.625%	5/28/25	EUR	9,000		10,520
	Commerzbank AG	0.625%	8/24/27	EUR	1,100		1,296
	Commerzbank AG	0.875%	9/8/25	EUR	10,100		11,998
	Commerzbank AG	4.125%	4/7/21	EUR	4,500		5,342
	Deutsche Bank AG	0.250%	3/8/24	EUR	9,300		10,609
	Deutsche Bank AG	0.250%	8/31/28	EUR	5,000		5,688
	Deutsche Hypothekenbank AG	0.125%	4/20/22	EUR	5,000		5,642
	Deutsche Hypothekenbank AG	0.125%	11/23/23	EUR	100		113
	Deutsche Hypothekenbank AG	0.250%	11/18/21	EUR	24,900		28,123
	Deutsche Hypothekenbank AG	0.500%	6/29/26	EUR	100		116
	Deutsche Kreditbank AG	0.500%	3/19/27	EUR	1,600		1,867
	Deutsche Kreditbank AG	1.625%	6/18/24	EUR	1,500		1,822
	Deutsche Pfandbriefbank AG	0.050%	8/9/21	EUR	1,000		1,123
	Deutsche Pfandbriefbank AG	0.125%	11/27/20	EUR	10,000		11,209
	Deutsche Pfandbriefbank AG	0.200%	3/1/22	EUR	5,450		6,154
	Deutsche Pfandbriefbank AG	0.250%	3/15/23	EUR	20,000		22,728
	Deutsche Pfandbriefbank AG	1.250%	4/20/35	EUR	10,000		12,706
	Deutsche Pfandbriefbank AG	1.875%	1/21/22	EUR	10,000		11,705
	Deutsche Pfandbriefbank AG	2.375%	5/29/28	EUR	6,100		8,206
	Dexia Kommunalbank Deutschland AG	0.050%	9/8/21	EUR	18,300		20,557
	Dexia Kommunalbank Deutschland AG	0.375%	3/3/22	EUR	8,300		9,405
	DZ HYP AG	0.125%	9/30/22	EUR	13,000		14,705
	DZ HYP AG	0.375%	3/31/26	EUR	6,200		7,178
	DZ HYP AG	0.500%	9/30/26	EUR	10,000		11,669
	DZ HYP AG	0.625%	6/5/24	EUR	100		116
	DZ HYP AG	0.875%	4/17/34	EUR	10,000		12,135
8	German Postal Pensions Securitisation 2 plc	4.375%	1/18/22	EUR	3,000		3,694
	Hamburg Commercial Bank AG	0.375%	4/27/23	EUR	10,808		12,303
	Hamburg Commercial Bank AG	0.750%	6/22/22	EUR	400		458
	ING-DiBa AG	0.125%	5/23/27	EUR	5,000		5,689
	ING-DiBa AG	0.250%	10/9/23	EUR	5,000		5,703
	ING-DiBa AG	0.250%	11/16/26	EUR	5,000		5,744
	ING-DiBa AG	1.000%	5/23/39	EUR	19,100		23,638
	Landesbank Baden-Wuerttemberg	0.125%	2/21/22	EUR	5,000		5,642
	Landesbank Baden-Wuerttemberg	0.200%	1/10/24	EUR	2,000		2,279
	Landesbank Baden-Wuerttemberg	0.250%	1/10/25	EUR	10,000		11,454
	Landesbank Baden-Wuerttemberg	0.375%	2/27/25	EUR	10,000		11,532

49

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Landesbank Hessen-Thueringen Girozentrale		0.000%		1/12/22		EUR		27,600			31,037
	Landesbank Hessen-Thueringen Girozentrale		0.125%		11/21/22		EUR		22,500			25,463
	Landesbank Hessen-Thueringen Girozentrale		0.250%		3/20/23		EUR		15,000			17,061
	Landesbank Hessen-Thueringen Girozentrale		0.375%		2/8/24		EUR		10,000			11,479
	Landesbank Hessen-Thueringen Girozentrale		0.500%		9/25/25		EUR		500			582
	Landesbank Hessen-Thueringen Girozentrale		1.125%		5/27/21		EUR		10,000			11,417
	Landesbank Hessen-Thueringen Girozentrale		1.875%		6/26/23		EUR		800			964
	Muenchener Hypothekenbank eG		1.375%		4/16/21		EUR		15,000			17,158
	Muenchener Hypothekenbank eG		1.750%		6/3/22		EUR		1,000			1,177
	Muenchener Hypothekenbank eG		2.500%		7/4/28		EUR		12,750			17,409
	Norddeutsche Landesbank Girozentrale		0.250%		10/28/26		EUR		10,000			11,463
	Norddeutsche Landesbank Girozentrale		0.375%		10/9/24		EUR		1,100			1,265
	Norddeutsche Landesbank Girozentrale		3.250%		1/18/21		EUR		4,000			4,655
	UniCredit Bank AG		0.125%		4/9/21		EUR		5,000			5,616
	UniCredit Bank AG		0.500%		5/4/26		EUR		500			582
	UniCredit Bank AG		0.625%		2/12/25		EUR		100			116
	UniCredit Bank AG		0.875%		1/11/29		EUR		10,000			12,045
	UniCredit Bank AG		1.875%		9/12/22		EUR		500			593
	UniCredit Bank AG		1.875%		4/9/24		EUR		5,100			6,237
	WL BANK AG Westfaelische Landschaft Bodenkreditbank		0.375%		6/6/25		EUR		2,000			2,308
	WL BANK AG Westfaelische Landschaft Bodenkreditbank		0.500%		4/1/27		EUR		5,000			5,848
	WL BANK AG Westfaelische Landschaft Bodenkreditbank		0.625%		8/30/27		EUR		10,000			11,809
	WL BANK AG Westfaelische Landschaft Bodenkreditbank		0.750%		2/2/26		EUR		10,000			11,832
	WL BANK AG Westfaelische Landschaft Bodenkreditbank		0.875%		1/18/30		EUR		12,200			14,776
	WL BANK AG Westfaelische Landschaft Bodenkreditbank		2.500%		3/29/22		EUR		10,400			12,402
												668,380
Corporate Bonds (1.6%)
	Aareal Bank AG		0.375%		7/15/25		EUR		2,200			2,539
	ADO Properties SA		1.500%		7/26/24		EUR		3,400			3,782
	Allianz Finance II BV		0.875%		1/15/26		EUR		2,000			2,340
	Allianz Finance II BV		1.375%		4/21/31		EUR		12,500			15,438
	Allianz Finance II BV		3.000%		3/13/28		EUR		2,800			3,872
	Allianz Finance II BV		3.500%		2/14/22		EUR		7,500			9,065
1	Allianz SE		2.241%		7/7/45		EUR		9,500			11,370
1	Allianz SE		3.375%		9/29/49		EUR		11,600			14,295
1	Allianz SE		4.750%		10/29/49		EUR		5,500			7,041
1	Allianz SE		5.625%		10/17/42		EUR		1,500			1,932
	alstria office REIT-AG		1.500%		11/15/27		EUR		10,000			11,537
	alstria office REIT-AG		2.125%		4/12/23		EUR		200			236
	Aroundtown SA		1.000%		1/7/25		EUR		500			568
	Aroundtown SA		1.500%		7/15/24		EUR		15,800			18,404

50

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Aroundtown SA		1.625%		1/31/28		EUR		1,300			1,498
	Aroundtown SA		1.875%		1/19/26		EUR		20,100			23,882
	Aroundtown SA		2.000%		11/2/26		EUR		6,800			8,087
1	Aroundtown SA		2.125%		12/31/49		EUR		4,000			4,360
	Aroundtown SA		3.000%		10/16/29		GBP		400			520
	Aroundtown SA		3.250%		7/18/27		GBP		14,500			19,366
	Aroundtown SA		4.625%		9/18/25		CAD		1,285			1,028
	BASF Finance Europe NV		0.000%		11/10/20		EUR		100			112
	BASF SE		0.875%		10/6/23		GBP		500			647
	BASF SE		0.875%		11/15/27		EUR		100			117
	BASF SE		0.875%		10/6/31		EUR		600			695
	BASF SE		1.375%		6/21/22		GBP		100			131
	BASF SE		1.450%		12/13/32		EUR		16,500			20,231
	BASF SE		1.500%		5/22/30		EUR		8,000			9,911
	BASF SE		1.750%		3/11/25		GBP		800			1,073
	BASF SE		1.875%		2/4/21		EUR		5,000			5,722
	BASF SE		2.000%		12/5/22		EUR		10,000			11,866
	Bayer AG		1.875%		1/25/21		EUR		3,000			3,411
1	Bayer AG		3.000%		7/1/75		EUR		2,000			2,257
1	Bayer AG		3.750%		7/1/74		EUR		6,054			7,240
	Bayer Capital Corp. BV		0.625%		12/15/22		EUR		15,000			16,990
	Bayer Capital Corp. BV		1.500%		6/26/26		EUR		500			589
	Bayer Capital Corp. BV		2.125%		12/15/29		EUR		10,200			12,479
	Bayerische Landesbank		0.625%		7/19/27		EUR		2,000			2,359
	Berlin Hyp AG		0.125%		1/5/24		EUR		5,000			5,678
	Berlin Hyp AG		0.625%		10/22/25		EUR		500			586
	Berlin Hyp AG		1.125%		10/25/27		EUR		100			119
	Berlin Hyp AG		1.250%		1/22/25		EUR		400			472
	Bertelsmann SE & Co. KGaA		1.250%		9/29/25		EUR		9,800			11,563
	Bertelsmann SE & Co. KGaA		1.750%		10/14/24		EUR		5,900			7,104
	Bertelsmann SE & Co. KGaA		2.625%		8/2/22		EUR		1,500			1,796
1	Bertelsmann SE & Co. KGaA		3.000%		4/23/75		EUR		100			118
1	Bertelsmann SE & Co. KGaA		3.500%		4/23/75		EUR		3,000			3,697
	BMW Canada Inc.		2.570%		8/6/21		CAD		12,590			9,622
	BMW Finance NV		0.125%		1/12/21		EUR		15,600			17,455
	BMW Finance NV		0.125%		11/29/21		EUR		4,100			4,589
	BMW Finance NV		0.250%		1/14/22		EUR		2,920			3,279
	BMW Finance NV		0.375%		7/10/23		EUR		10,500			11,833
	BMW Finance NV		0.625%		10/6/23		EUR		11,200			12,727
	BMW Finance NV		0.750%		4/15/24		EUR		900			1,029
	BMW Finance NV		0.875%		11/17/20		EUR		1,000			1,127
	BMW Finance NV		0.875%		8/16/22		GBP		2,400			3,079
	BMW Finance NV		0.875%		4/3/25		EUR		9,200			10,642
	BMW Finance NV		1.000%		2/15/22		EUR		2,200			2,515
	BMW Finance NV		1.000%		11/14/24		EUR		11,780			13,632
	BMW Finance NV		1.000%		8/29/25		EUR		7,980			9,290
	BMW Finance NV		1.250%		9/5/22		EUR		1,200			1,385
	BMW Finance NV		1.500%		2/6/29		EUR		19,764			23,846
	BMW Finance NV		2.375%		1/24/23		EUR		400			480
	BMW International Investment BV		1.000%		11/17/21		GBP		2,600			3,361
	BMW International Investment BV		1.750%		4/19/22		GBP		2,500			3,281
	BMW International Investment BV		1.875%		9/11/23		GBP		300			397
	BMW US Capital LLC		0.625%		4/20/22		EUR		17,910			20,296
	BMW US Capital LLC		1.125%		9/18/21		EUR		400			456

51

Total International Bond Index Fund

							Face			Market
			Maturity				Amount			Value·
	Coupon		Date		Currency		(000		)	($000		)
Brenntag Finance BV		1.125%		9/27/25		EUR		3,600			4,118
Commerzbank AG		0.050%		7/11/24		EUR		5,000			5,664
Commerzbank AG		0.125%		1/9/24		EUR		10,000			11,353
Commerzbank AG		0.125%		12/15/26		EUR		11,800			13,420
Commerzbank AG		0.500%		9/13/23		EUR		1,000			1,119
Commerzbank AG		1.000%		3/4/26		EUR		5,000			5,767
Commerzbank AG		1.250%		1/9/34		EUR		7,000			8,874
Commerzbank AG		1.500%		9/21/22		EUR		5,000			5,785
Commerzbank AG		1.500%		8/28/28		EUR		45			54
Commerzbank AG		4.000%		3/23/26		EUR		11,130			14,151
Commerzbank AG		4.000%		3/30/27		EUR		6,000			7,711
Covestro AG		1.750%		9/25/24		EUR		10,000			11,975
Daimler AG		0.000%		2/8/24		EUR		800			882
Daimler AG		0.750%		2/8/30		EUR		9,000			9,863
Daimler AG		0.875%		1/12/21		EUR		18,000			20,293
Daimler AG		1.125%		8/8/34		EUR		10,000			10,940
Daimler AG		1.500%		1/13/22		GBP		2,500			3,256
Daimler AG		2.000%		6/25/21		EUR		600			692
Daimler AG		2.000%		2/27/31		EUR		6,800			8,409
Daimler AG		2.250%		1/24/22		EUR		1,750			2,051
Daimler AG		2.375%		9/12/22		EUR		7,000			8,321
Daimler AG		2.750%		12/4/20		GBP		4,500			5,924
Daimler Canada Finance Inc.		1.910%		7/8/21		CAD		5,000			3,770
Daimler Canada Finance Inc.		3.050%		5/16/22		CAD		8,990			6,920
Daimler International Finance BV		0.200%		9/13/21		EUR		100			112
Daimler International Finance BV		0.250%		8/9/21		EUR		15,000			16,802
Daimler International Finance BV		0.250%		5/11/22		EUR		800			896
Daimler International Finance BV		0.625%		2/27/23		EUR		10,876			12,324
Daimler International Finance BV		0.875%		4/9/24		EUR		2,950			3,379
Daimler International Finance BV		1.000%		11/11/25		EUR		21,000			24,240
Daimler International Finance BV		1.375%		6/26/26		EUR		27,400			32,244
Daimler International Finance BV		1.500%		8/18/21		GBP		1,500			1,949
Daimler International Finance BV		2.000%		9/4/23		GBP		500			661
Daimler International Finance BV		2.125%		6/7/22		GBP		100			132
Deutsche Apotheker-und Aerztebank eG		0.750%		10/5/27		EUR		700			834
Deutsche Bank AG		0.000%		10/15/26		EUR		4,906			4,685
Deutsche Bank AG		0.625%		12/19/23		CHF		11,500			11,527
Deutsche Bank AG		1.125%		8/30/23		EUR		3,000			3,439
Deutsche Bank AG		1.250%		9/8/21		EUR		11,200			12,586
Deutsche Bank AG		1.500%		1/20/22		EUR		3,400			3,832
Deutsche Bank AG		1.875%		2/14/22		EUR		3,300			3,750
Deutsche Bank AG		2.375%		1/11/23		EUR		11,800			13,702
Deutsche Bank AG		2.625%		2/12/26		EUR		13,000			15,522
Deutsche Bank AG		3.875%		2/12/24		GBP		3,100			4,184
Deutsche Boerse AG		1.125%		3/26/28		EUR		10,000			12,074
Deutsche Boerse AG		1.625%		10/8/25		EUR		4,098			5,055
Deutsche Boerse AG		2.375%		10/5/22		EUR		500			598
Deutsche Hypothekenbank AG		0.250%		2/22/23		EUR		15,000			17,050
Deutsche Hypothekenbank AG		0.250%		5/17/24		EUR		3,500			3,997
Deutsche Kreditbank AG		0.625%		6/8/21		EUR		15,100			16,992
Deutsche Post AG		1.625%		12/5/28		EUR		8,000			9,893
Deutsche Post AG		2.750%		10/9/23		EUR		2,000			2,478
Deutsche Post AG		2.875%		12/11/24		EUR		2,000			2,553
Deutsche Telekom AG		0.500%		7/5/27		EUR		13,000			14,642

52

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Deutsche Telekom AG		1.375%		7/5/34		EUR		3,000			3,463
	Deutsche Telekom AG		1.750%		3/25/31		EUR		100			123
	Deutsche Telekom AG		2.250%		3/29/39		EUR		4,250			5,389
	Deutsche Telekom International Finance BV		0.250%		4/19/21		EUR		6,300			7,063
	Deutsche Telekom International Finance BV		0.375%		10/30/21		EUR		15,500			17,446
	Deutsche Telekom International Finance BV		0.625%		12/1/22		EUR		20,100			22,861
	Deutsche Telekom International Finance BV		0.625%		4/3/23		EUR		12,000			13,656
	Deutsche Telekom International Finance BV		1.125%		5/22/26		EUR		100			118
	Deutsche Telekom International Finance BV		1.375%		12/1/25		EUR		25,065			29,928
	Deutsche Telekom International Finance BV		1.375%		1/30/27		EUR		200			240
	Deutsche Telekom International Finance BV		1.500%		4/3/28		EUR		5,235			6,322
	Deutsche Telekom International Finance BV		2.000%		12/1/29		EUR		8,700			10,992
	Deutsche Telekom International Finance BV		2.500%		10/10/25		GBP		15,000			20,488
	Deutsche Telekom International Finance BV		2.750%		10/24/24		EUR		4,396			5,553
	Deutsche Telekom International Finance BV		3.250%		1/17/28		EUR		100			137
	Deutsche Telekom International Finance BV		4.250%		7/13/22		EUR		3,000			3,738
	Deutsche Telekom International Finance BV		4.875%		4/22/25		EUR		9,250			13,033
	Deutsche Telekom International Finance BV		6.500%		4/8/22		GBP		10,400			15,170
	Deutsche Telekom International Finance BV		7.500%		1/24/33		EUR		900			1,803
	Deutsche Telekom International Finance BV		8.875%		11/27/28		GBP		900			1,838
	DVB Bank SE		0.875%		4/9/21		EUR		400			451
	DVB Bank SE		1.000%		4/25/22		EUR		6,500			7,397
	DVB Bank SE		1.250%		9/15/21		EUR		13,600			15,491
	DVB Bank SE		1.250%		6/16/23		EUR		19,300			22,268
	DZ HYP AG		0.500%		11/13/25		EUR		16,000			18,639
	DZ HYP AG		0.750%		6/30/27		EUR		1,200			1,428
	E.ON International Finance BV		5.875%		10/30/37		GBP		8,950			17,151
	E.ON International Finance BV		6.375%		6/7/32		GBP		10,800			20,275
	E.ON International Finance BV		6.750%		1/27/39		GBP		1,000			2,118
	E.ON SE		0.350%		2/28/30		EUR		10,000			10,892
	E.ON SE		0.375%		8/23/21		EUR		7,000			7,863
	E.ON SE		0.875%		5/22/24		EUR		500			577
	E.ON SE		1.625%		5/22/29		EUR		100			123
	Eurogrid GmbH		1.500%		4/18/28		EUR		1,100			1,326
	Eurogrid GmbH		1.625%		11/3/23		EUR		1,900			2,243
	Eurogrid GmbH		1.875%		6/10/25		EUR		4,100			4,977
	Evonik Finance BV		0.000%		3/8/21		EUR		300			335
	Evonik Finance BV		0.750%		9/7/28		EUR		5,100			5,882
	Fresenius Finance Ireland plc		1.500%		1/30/24		EUR		10,438			12,207
	Fresenius Medical Care AG & Co. KGaA		1.500%		7/11/25		EUR		400			473
	Fresenius SE & Co. KGaA		0.875%		1/31/22		EUR		3,000			3,401
	Fresenius SE & Co. KGaA		1.875%		2/15/25		EUR		12,500			15,048
	Fresenius SE & Co. KGaA		2.875%		2/15/29		EUR		12,000			15,726
	Fresenius SE & Co. KGaA		3.000%		1/30/32		EUR		1,572			2,067
	Fresenius SE & Co. KGaA		4.000%		2/1/24		EUR		9,000			11,598
	Grand City Properties SA		1.375%		8/3/26		EUR		10,100			11,643
	Grand City Properties SA		1.500%		4/17/25		EUR		13,200			15,425
	Grand City Properties SA		1.500%		2/22/27		EUR		2,100			2,440
1	Grand City Properties SA		2.500%		12/31/49		EUR		1,000			1,137
	Hamburg Commercial Bank AG		0.375%		7/12/23		EUR		16,100			18,345
1	Hannover Finance Luxembourg SA		5.000%		6/30/43		EUR		6,100			7,899
1	Hannover Rueck SE		3.375%		12/31/49		EUR		100			125
	HeidelbergCement AG		2.250%		3/30/23		EUR		8,000			9,468
	HeidelbergCement AG		2.250%		6/3/24		EUR		10,700			12,899

53

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	HeidelbergCement Finance Luxembourg SA		0.500%		1/18/21		EUR		8,000			8,972
	HeidelbergCement Finance Luxembourg SA		1.125%		12/1/27		EUR		10,000			11,369
	HeidelbergCement Finance Luxembourg SA		1.500%		6/14/27		EUR		400			469
	HeidelbergCement Finance Luxembourg SA		1.625%		4/7/26		EUR		2,700			3,190
	HeidelbergCement Finance Luxembourg SA		1.750%		4/24/28		EUR		11,200			13,318
	Hella GmbH & Co. KGaA		1.000%		5/17/24		EUR		800			913
	Henkel AG & Co. KGaA		0.875%		9/13/22		GBP		13,779			17,808
	innogy Finance BV		1.000%		4/13/25		EUR		10,000			11,642
	innogy Finance BV		1.500%		7/31/29		EUR		33,980			41,201
	innogy Finance BV		4.750%		1/31/34		GBP		5,400			8,988
	innogy Finance BV		5.500%		7/6/22		GBP		1,100			1,587
	innogy Finance BV		5.625%		12/6/23		GBP		1,400			2,126
	innogy Finance BV		6.125%		7/6/39		GBP		3,000			5,990
	innogy Finance BV		6.250%		6/3/30		GBP		15,900			28,499
	innogy Finance BV		6.500%		4/20/21		GBP		11,100			15,436
	innogy Finance BV		6.500%		8/10/21		EUR		300			374
	LANXESS AG		0.250%		10/7/21		EUR		615			690
	LANXESS AG		1.125%		5/16/25		EUR		9,500			11,083
	LANXESS AG		2.625%		11/21/22		EUR		300			361
	LEG Immobilien AG		1.250%		1/23/24		EUR		800			922
	Linde Finance BV		1.000%		4/20/28		EUR		500			597
	Linde Finance BV		3.875%		6/1/21		EUR		400			475
	Linde Finance BV		5.875%		4/24/23		GBP		2,177			3,306
	Merck Financial Services GmbH		0.875%		7/5/31		EUR		600			687
1	Merck KGaA		2.625%		12/12/74		EUR		2,000			2,307
1	Merck KGaA		3.375%		12/12/74		EUR		300			374
	Muenchener Hypothekenbank eG		0.500%		4/22/26		EUR		500			583
	Muenchener Hypothekenbank eG		0.625%		10/23/26		EUR		1,200			1,413
	Muenchener Hypothekenbank eG		0.625%		5/7/27		EUR		13,000			15,319
	Muenchener Hypothekenbank eG		0.625%		11/10/27		EUR		15,000			17,729
	Muenchener Hypothekenbank eG		1.000%		4/18/39		EUR		5,000			6,220
1	Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		3.250%		5/26/49		EUR		9,300			12,209
1	Muenchener Rueckversicherungs-Gesellschaft AG In Muenchen		6.000%		5/26/41		EUR		500			609
1	Muenchener Rueckversicherungs-Gesellschaft AG In Muenchen		6.250%		5/26/42		EUR		11,800			15,199
1	Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		6.625%		5/26/42		GBP		3,700			5,397
	O2 Telefonica Deutschland Finanzierungs GmbH		1.750%		7/5/25		EUR		2,000			2,352
	O2 Telefonica Deutschland Finanzierungs GmbH		2.375%		2/10/21		EUR		700			804
	Robert Bosch GmbH		1.750%		7/8/24		EUR		200			242
	Santander Consumer Bank AG		0.750%		10/17/22		EUR		18,700			21,226
	SAP SE		0.750%		12/10/24		EUR		1,500			1,740
	SAP SE		1.125%		2/20/23		EUR		2,650			3,073
	SAP SE		1.250%		3/10/28		EUR		5,800			7,063
	SAP SE		1.625%		3/10/31		EUR		25,200			31,915
	Siemens Financieringsmaatschappij NV		0.000%		9/5/24		EUR		13,950			15,617
	Siemens Financieringsmaatschappij NV		0.125%		9/5/29		EUR		10,000			11,015
	Siemens Financieringsmaatschappij NV		1.250%		2/28/31		EUR		15,849			19,358
	Siemens Financieringsmaatschappij NV		1.375%		9/6/30		EUR		300			371
	Siemens Financieringsmaatschappij NV		1.750%		3/12/21		EUR		6,400			7,332

54

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Siemens Financieringsmaatschappij NV		1.750%		2/28/39		EUR		1,198			1,551
	Siemens Financieringsmaatschappij NV		2.750%		9/10/25		GBP		1,000			1,422
	Siemens Financieringsmaatschappij NV		2.875%		3/10/28		EUR		500			687
	Siemens Financieringsmaatschappij NV		3.750%		9/10/42		GBP		3,100			5,407
1	Talanx AG		2.250%		12/5/47		EUR		10,200			11,938
	Talanx AG		2.500%		7/23/26		EUR		2,000			2,579
1	Talanx Finanz Luxembourg SA		8.367%		6/15/42		EUR		4,000			5,411
	TLG Immobilien AG		1.375%		11/27/24		EUR		800			927
	TLG Immobilien AG		1.500%		5/28/26		EUR		5,700			6,553
	UniCredit Bank AG		0.125%		10/26/23		EUR		2,000			2,270
	UniCredit Bank AG		0.625%		11/20/25		EUR		500			585
	UniCredit Bank AG		0.850%		5/22/34		EUR		5,100			6,153
	Vier Gas Transport GmbH		2.875%		6/12/25		EUR		11,500			14,851
	Vier Gas Transport GmbH		3.125%		7/10/23		EUR		8,100			10,103
	Volkswagen Bank GmbH		0.625%		9/8/21		EUR		15,400			17,354
	Volkswagen Bank GmbH		0.750%		6/15/23		EUR		11,400			12,908
	Volkswagen Bank GmbH		1.250%		8/1/22		EUR		800			918
	Volkswagen Bank GmbH		1.250%		6/10/24		EUR		53,300			61,364
	Volkswagen Bank GmbH		1.250%		12/15/25		EUR		1,300			1,494
	Volkswagen Bank GmbH		2.500%		7/31/26		EUR		5,300			6,531
	Volkswagen Financial Services AG		0.375%		4/12/21		EUR		800			897
	Volkswagen Financial Services AG		0.875%		4/12/23		EUR		1,100			1,249
	Volkswagen Financial Services AG		2.250%		10/16/26		EUR		2,000			2,429
	Volkswagen Financial Services Australia Pty Ltd.		3.300%		2/28/22		AUD		3,490			2,478
	Volkswagen Financial Services NV		1.500%		4/12/21		GBP		3,000			3,883
	Volkswagen Financial Services NV		1.625%		6/9/22		GBP		3,600			4,665
	Volkswagen Financial Services NV		1.750%		9/12/22		GBP		1,000			1,302
	Volkswagen Financial Services NV		1.875%		9/7/21		GBP		400			521
	Volkswagen Financial Services NV		2.250%		4/12/25		GBP		600			793
	Volkswagen International Finance NV		0.500%		3/30/21		EUR		5,000			5,613
	Volkswagen International Finance NV		1.875%		3/30/27		EUR		13,400			15,970
	Volkswagen International Finance NV		2.000%		3/26/21		EUR		3,300			3,785
	Volkswagen International Finance NV		2.625%		11/16/27		EUR		300			378
1	Volkswagen International Finance NV		2.700%		12/14/65		EUR		21,500			24,689
	Volkswagen International Finance NV		3.250%		11/18/30		EUR		1,800			2,389
	Volkswagen International Finance NV		3.300%		3/22/33		EUR		800			1,068
	Volkswagen International Finance NV		3.375%		11/16/26		GBP		7,100			9,845
1	Volkswagen International Finance NV		3.375%		12/31/49		EUR		18,000			20,993
1	Volkswagen International Finance NV		3.500%		12/29/49		EUR		10,200			11,634
1	Volkswagen International Finance NV		3.875%		6/14/66		EUR		10,400			12,328
	Volkswagen International Finance NV		4.125%		11/16/38		EUR		16,200			23,593
1	Volkswagen International Finance NV		4.625%		3/29/49		EUR		2,000			2,486
1	Volkswagen International Finance NV		4.625%		12/31/49		EUR		1,400			1,720
1	Volkswagen International Finance NV		5.125%		12/31/49		EUR		4,100			5,123
	Volkswagen Leasing GmbH		0.250%		2/16/21		EUR		10,300			11,524
	Volkswagen Leasing GmbH		1.000%		2/16/23		EUR		11,450			13,046
	Volkswagen Leasing GmbH		1.125%		4/4/24		EUR		10,500			12,048
	Volkswagen Leasing GmbH		1.375%		1/20/25		EUR		11,600			13,395
	Volkswagen Leasing GmbH		1.625%		8/15/25		EUR		2,180			2,555
	Volkswagen Leasing GmbH		2.125%		4/4/22		EUR		9,600			11,228
	Volkswagen Leasing GmbH		2.375%		9/6/22		EUR		10,000			11,839
	Volkswagen Leasing GmbH		2.625%		1/15/24		EUR		2,300			2,797
	Vonovia Finance BV		0.750%		1/25/22		EUR		100			113

55

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Vonovia Finance BV		0.750%		1/15/24		EUR		20,000			22,745
	Vonovia Finance BV		0.875%		7/3/23		EUR		700			798
	Vonovia Finance BV		1.125%		9/8/25		EUR		2,500			2,893
	Vonovia Finance BV		1.125%		9/14/34		EUR		5,000			5,400
	Vonovia Finance BV		1.500%		3/31/25		EUR		5,100			6,050
	Vonovia Finance BV		1.500%		3/22/26		EUR		10,100			11,939
	Vonovia Finance BV		1.500%		6/10/26		EUR		5,000			5,902
	Vonovia Finance BV		1.500%		1/14/28		EUR		1,100			1,305
	Vonovia Finance BV		1.750%		1/25/27		EUR		200			241
	Vonovia Finance BV		1.800%		6/29/25		EUR		23,200			27,737
	Vonovia Finance BV		2.250%		12/15/23		EUR		12,700			15,298
	Vonovia Finance BV		2.750%		3/22/38		EUR		200			267
	Vonovia Finance BV		3.625%		10/8/21		EUR		3,100			3,699
1	Vonovia Finance BV		4.000%		12/29/49		EUR		2,300			2,744
	VW Credit Canada Inc.		3.250%		3/29/23		CAD		8,500			6,584
	WL BANK AG Westfaelische Landschaft Bodenkreditbank		0.100%		8/31/26		EUR		1,000			1,137
	Wuerth Finance International BV		1.000%		5/19/22		EUR		400			457
												2,238,634
Sovereign Bonds (7.5%)
	Bayerische Landesbodenkreditanstalt		1.750%		4/24/24		EUR		3,000			3,666
	Bayerische Landesbodenkreditanstalt		1.875%		1/25/23		EUR		6,290			7,531
	Deutsche Bahn Finance BV		1.500%		8/26/24		CHF		1,000			1,108
	Deutsche Bahn Finance BV		3.125%		7/24/26		GBP		500			729
	Deutsche Bahn Finance GmbH		0.000%		7/19/21		EUR		30,000			33,587
	Deutsche Bahn Finance GmbH		0.875%		7/11/31		EUR		2,700			3,178
	Deutsche Bahn Finance GmbH		1.125%		12/18/28		EUR		10,000			12,154
	Deutsche Bahn Finance GmbH		1.250%		10/23/25		EUR		2,500			3,000
	Deutsche Bahn Finance GmbH		1.375%		7/7/25		GBP		7,000			9,197
	Deutsche Bahn Finance GmbH		1.375%		3/28/31		EUR		3,000			3,701
	Deutsche Bahn Finance GmbH		1.500%		12/8/32		EUR		7,000			8,793
	Deutsche Bahn Finance GmbH		1.625%		11/6/30		EUR		100			127
	Deutsche Bahn Finance GmbH		1.625%		8/16/33		EUR		13,000			16,525
	Deutsche Bahn Finance GmbH		1.875%		2/13/26		GBP		9,128			12,334
	Deutsche Bahn Finance GmbH		2.500%		9/12/23		EUR		18,500			22,700
	Deutsche Bahn Finance GmbH		2.750%		6/20/22		GBP		1,600			2,169
	Deutsche Bahn Finance GmbH		2.750%		3/19/29		EUR		3,500			4,825
	Deutsche Bahn Finance GmbH		3.000%		3/8/24		EUR		4,000			5,042
	Deutsche Bahn Finance GmbH		3.500%		9/27/24		AUD		2,950			2,204
	Deutsche Bahn Finance GmbH		3.750%		6/1/21		EUR		2,000			2,373
	Deutsche Bahn Finance GmbH		3.750%		7/9/25		EUR		5,919			7,972
1	EnBW Energie Baden-Wuerttemberg AG		1.125%		11/5/79		EUR		3,000			3,328
1	EnBW Energie Baden-Wuerttemberg AG		1.625%		8/5/79		EUR		3,100			3,441
1	EnBW Energie Baden-Wuerttemberg AG		3.375%		4/5/77		EUR		3,800			4,481
1	EnBW Energie Baden-Wuerttemberg AG		3.625%		4/2/76		EUR		14,500			16,861
	Enbw International Finance BV		2.500%		6/4/26		EUR		2,000			2,569
	Enbw International Finance BV		6.125%		7/7/39		EUR		2,285			4,797
	ENTEGA Netz AG		6.125%		4/23/41		EUR		400			744
	EWE AG		4.125%		11/4/20		EUR		2,000			2,327
	EWE AG		5.250%		7/16/21		EUR		8,950			10,872
9	Federal Republic of Germany		0.000%		4/9/21		EUR		202,800			228,319
9	Federal Republic of Germany		0.000%		10/8/21		EUR		235,000			265,541
9	Federal Republic of Germany		0.000%		4/8/22		EUR		230,000			260,778
9	Federal Republic of Germany		0.000%		10/7/22		EUR		97,500			110,961

56

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Federal Republic of Germany		0.000%		4/14/23		EUR		75,000			85,657
	Federal Republic of Germany		0.000%		10/13/23		EUR		91,568			104,876
9	Federal Republic of Germany		0.000%		4/5/24		EUR		103,000			118,181
	Federal Republic of Germany		0.000%		10/18/24		EUR		675,000			776,384
	Federal Republic of Germany		0.000%		8/15/26		EUR		44,000			51,015
	Federal Republic of Germany		0.000%		8/15/29		EUR		473,750			549,420
9	Federal Republic of Germany		0.250%		10/16/20		EUR		221,545			249,154
	Federal Republic of Germany		0.250%		2/15/27		EUR		48,400			57,213
	Federal Republic of Germany		0.250%		8/15/28		EUR		139,801			165,993
9	Federal Republic of Germany		0.250%		2/15/29		EUR		140,936			167,408
	Federal Republic of Germany		0.500%		2/15/25		EUR		12,000			14,193
9	Federal Republic of Germany		0.500%		2/15/26		EUR		267,000			318,594
	Federal Republic of Germany		0.500%		8/15/27		EUR		27,073			32,682
	Federal Republic of Germany		0.500%		2/15/28		EUR		19,300			23,360
9	Federal Republic of Germany		1.000%		8/15/24		EUR		100,000			120,428
9	Federal Republic of Germany		1.250%		8/15/48		EUR		244,501			363,730
	Federal Republic of Germany		1.500%		9/4/22		EUR		10,000			11,856
	Federal Republic of Germany		1.500%		2/15/23		EUR		65,530			78,404
	Federal Republic of Germany		1.500%		5/15/23		EUR		78,500			94,376
9	Federal Republic of Germany		1.500%		5/15/24		EUR		209,404			256,631
9	Federal Republic of Germany		1.750%		7/4/22		EUR		220,771			262,470
	Federal Republic of Germany		1.750%		2/15/24		EUR		14,500			17,859
	Federal Republic of Germany		2.000%		1/4/22		EUR		480			567
9	Federal Republic of Germany		2.000%		8/15/23		EUR		81,500			100,216
	Federal Republic of Germany		2.250%		9/4/21		EUR		67,400			79,224
9	Federal Republic of Germany		2.500%		7/4/44		EUR		171,000			308,128
	Federal Republic of Germany		2.500%		8/15/46		EUR		86,550			159,637
	Federal Republic of Germany		3.250%		7/4/21		EUR		21,400			25,432
	Federal Republic of Germany		3.250%		7/4/42		EUR		74,994			146,677
9	Federal Republic of Germany		4.000%		1/4/37		EUR		141,268			272,459
	Federal Republic of Germany		4.250%		7/4/39		EUR		59,400			123,867
	Federal Republic of Germany		4.750%		7/4/28		EUR		53,500			87,374
10	Federal Republic of Germany		4.750%		7/4/34		EUR		47,800			93,389
	Federal Republic of Germany		4.750%		7/4/40		EUR		45,785			102,934
	Federal Republic of Germany		5.500%		1/4/31		EUR		81,400			151,928
	Federal Republic of Germany		5.625%		1/4/28		EUR		7,365			12,431
	Federal Republic of Germany		6.250%		1/4/24		EUR		25,000			36,043
	Federal Republic of Germany		6.500%		7/4/27		EUR		54,400			94,102
	FMS Wertmanagement		0.000%		10/20/20		EUR		7,500			8,400
	FMS Wertmanagement		0.000%		11/13/20		EUR		25,000			28,011
	FMS Wertmanagement		0.050%		7/6/21		EUR		10,000			11,253
	FMS Wertmanagement		0.375%		4/29/30		EUR		7,000			8,166
8	FMS Wertmanagement		0.875%		5/14/21		GBP		21,300			27,601
	FMS Wertmanagement		1.000%		9/7/22		GBP		5,000			6,524
	FMS Wertmanagement		3.000%		9/8/21		EUR		6,000			7,122
	FMS Wertmanagement		3.375%		6/17/21		EUR		11,000			13,040
	Free and Hanseatic City of Hamburg		0.250%		1/20/25		EUR		23,000			26,405
	Free and Hanseatic City of Hamburg		1.000%		6/18/21		EUR		9,500			10,841
	Free and Hanseatic City of Hamburg		1.450%		11/5/38		EUR		15,000			19,935
	Free and Hanseatic City of Hamburg		1.875%		9/26/22		EUR		9,000			10,709
	Gemeinsame Deutsche Bundeslaender		0.125%		4/14/23		EUR		10,000			11,352
	Gemeinsame Deutsche Bundeslaender		0.250%		3/18/24		EUR		25,000			28,622
	Gemeinsame Deutsche Bundeslaender		0.375%		4/17/25		EUR		20,000			23,141
	Gemeinsame Deutsche Bundeslaender		0.500%		2/5/25		EUR		15,000			17,446

57

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Gemeinsame Deutsche Bundeslaender		0.625%		2/13/29		EUR		4,000			4,753
	Gemeinsame Deutsche Bundeslaender		1.125%		9/30/24		EUR		5,500			6,577
	Gemeinsame Deutsche Bundeslaender		1.500%		1/29/21		EUR		5,000			5,710
	Gemeinsame Deutsche Bundeslaender		1.750%		6/13/22		EUR		14,000			16,497
	Gemeinsame Deutsche Bundeslaender		1.750%		1/31/23		EUR		8,000			9,551
	Gemeinsame Deutsche Bundeslaender		2.250%		10/23/23		EUR		175			216
8	KFW		0.000%		5/25/21		EUR		10,000			11,238
8	KFW		0.000%		6/30/21		EUR		51,300			57,695
8	KFW		0.000%		4/28/22		EUR		42,900			48,448
8	KFW		0.000%		6/30/22		EUR		20,000			22,602
8	KFW		0.000%		12/15/22		EUR		25,000			28,306
8	KFW		0.000%		9/15/23		EUR		32,000			36,311
8	KFW		0.000%		4/2/24		EUR		25,000			28,385
8	KFW		0.050%		5/30/24		EUR		3,000			3,427
8	KFW		0.125%		10/27/20		EUR		20,000			22,442
8	KFW		0.125%		11/7/23		EUR		10,823			12,344
8	KFW		0.125%		1/15/24		EUR		20,000			22,824
8	KFW		0.125%		10/4/24		EUR		56,011			64,083
8	KFW		0.250%		9/15/25		EUR		25,000			28,849
8	KFW		0.375%		12/15/20		GBP		10,000			12,895
8	KFW		0.375%		3/15/23		EUR		25,000			28,671
8	KFW		0.375%		4/23/25		EUR		25,000			29,036
8	KFW		0.375%		3/9/26		EUR		5,000			5,822
8	KFW		0.375%		4/23/30		EUR		15,000			17,498
8	KFW		0.500%		9/15/27		EUR		65,000			76,728
8	KFW		0.625%		7/4/22		EUR		20,000			22,978
8	KFW		0.625%		1/15/25		EUR		78,675			92,437
8	KFW		0.625%		2/22/27		EUR		38,000			44,964
8	KFW		0.625%		1/7/28		EUR		50,000			59,599
8	KFW		0.750%		6/28/28		EUR		20,000			24,133
8	KFW		0.750%		1/15/29		EUR		20,000			24,147
8	KFW		0.875%		3/15/22		GBP		20,000			25,988
8	KFW		0.875%		7/4/39		EUR		5,000			6,217
8	KFW		1.000%		11/4/20		NOK		20,000			2,169
8	KFW		1.125%		5/9/33		EUR		40,000			50,823
8	KFW		1.125%		6/15/37		EUR		10,000			12,881
8	KFW		1.250%		12/29/23		GBP		20,000			26,404
8	KFW		1.250%		7/4/36		EUR		23,000			30,014
8	KFW		1.375%		2/1/21		GBP		10,000			13,040
8	KFW		1.375%		12/9/24		GBP		10,000			13,317
8	KFW		1.375%		7/31/35		EUR		14,000			18,507
8	KFW		1.500%		6/11/24		EUR		22,460			27,272
8	KFW		1.625%		1/15/21		EUR		43,000			49,192
8	KFW		2.000%		2/7/22		CAD		13,035			9,939
8	KFW		2.125%		8/15/23		EUR		20,000			24,495
8	KFW		2.500%		1/17/22		EUR		12,000			14,282
8	KFW		2.500%		8/25/25		CHF		21,500			25,693
8	KFW		2.800%		2/17/21		AUD		7,500			5,278
8	KFW		2.800%		3/7/23		AUD		25,600			18,551
8	KFW		2.900%		6/6/22		AUD		25,275			18,181
8	KFW		3.200%		9/11/26		AUD		18,460			14,188
8	KFW		3.200%		3/15/28		AUD		1,450			1,127
8	KFW		3.375%		1/18/21		EUR		25,350			29,599
8	KFW		3.500%		7/4/21		EUR		25,000			29,755

58

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
8	KFW		4.000%		2/27/25		AUD		3,400			2,661
8	KFW		4.700%		6/2/37		CAD		2,350			2,338
8	KFW		4.875%		3/15/37		GBP		4,400			8,954
8	KFW		5.000%		3/19/24		AUD		10,000			7,982
8	KFW		5.500%		2/9/22		AUD		29,200			22,048
8	KFW		5.500%		6/18/25		GBP		20,000			32,543
8	KFW		5.550%		6/7/21		GBP		19,000			26,456
8	KFW		5.750%		6/7/32		GBP		10,500			21,123
8	KFW		6.000%		12/7/28		GBP		10,000			18,728
8	KFW		6.250%		5/19/21		AUD		11,000			8,168
	Land Berlin		0.000%		9/15/22		EUR		9,000			10,163
	Land Berlin		0.250%		4/22/25		EUR		10,000			11,478
	Land Berlin		0.500%		2/10/25		EUR		21,000			24,456
	Land Berlin		0.750%		4/3/34		EUR		10,490			12,528
	Land Berlin		1.375%		6/5/37		EUR		5,000			6,539
	Land Berlin		1.375%		8/27/38		EUR		5,000			6,569
	Land Thueringen		0.200%		10/26/26		EUR		15,000			17,203
	Land Thueringen		0.500%		5/12/25		EUR		4,500			5,247
	Landesbank Baden-Wuerttemberg		0.200%		12/13/21		EUR		7,000			7,849
	Landesbank Baden-Wuerttemberg		0.375%		5/24/24		EUR		1,500			1,683
	Landesbank Baden-Wuerttemberg		0.500%		6/7/22		EUR		3,000			3,388
	Landesbank Baden-Wuerttemberg		2.200%		5/9/29		EUR		16,900			20,215
	Landesbank Baden-Wuerttemberg		2.875%		9/28/26		EUR		15,100			18,909
	Landeskreditbank Baden-Wuerttemberg Foerderbank		0.375%		4/13/26		EUR		15,000			17,432
	Landeskreditbank Baden-Wuerttemberg Foerderbank		1.125%		5/17/21		GBP		5,700			7,409
	Landeskreditbank Baden-Wuerttemberg Foerderbank		2.250%		2/17/21		AUD		20,500			14,306
	Landeskreditbank Baden-Wuerttemberg Foerderbank		4.250%		8/7/25		AUD		11,800			9,375
8	Landwirtschaftliche Rentenbank		0.050%		6/12/23		EUR		24,700			28,044
8	Landwirtschaftliche Rentenbank		0.250%		11/24/22		EUR		10,000			11,395
8	Landwirtschaftliche Rentenbank		0.250%		7/15/24		EUR		12,900			14,825
8	Landwirtschaftliche Rentenbank		0.375%		1/22/24		EUR		40,100			46,246
8	Landwirtschaftliche Rentenbank		0.375%		3/16/26		EUR		26,500			30,850
8	Landwirtschaftliche Rentenbank		0.375%		2/14/28		EUR		10,000			11,673
8	Landwirtschaftliche Rentenbank		0.500%		3/6/25		EUR		8,000			9,336
8	Landwirtschaftliche Rentenbank		0.625%		5/18/27		EUR		15,300			18,181
8	Landwirtschaftliche Rentenbank		0.625%		2/20/30		EUR		20,000			23,907
8	Landwirtschaftliche Rentenbank		1.125%		5/12/21		GBP		1,049			1,364
8	Landwirtschaftliche Rentenbank		1.125%		12/15/23		GBP		14,600			19,183
8	Landwirtschaftliche Rentenbank		1.250%		5/20/22		EUR		5,000			5,823
8	Landwirtschaftliche Rentenbank		1.375%		12/15/20		GBP		3,100			4,042
8	Landwirtschaftliche Rentenbank		2.500%		4/13/21		AUD		5,000			3,514
8	Landwirtschaftliche Rentenbank		2.600%		3/23/27		AUD		4,400			3,258
8	Landwirtschaftliche Rentenbank		2.700%		9/5/22		AUD		13,000			9,339
8	Landwirtschaftliche Rentenbank		2.875%		8/30/21		EUR		13,000			15,393
8	Landwirtschaftliche Rentenbank		3.250%		4/12/28		AUD		1,650			1,287
8	Landwirtschaftliche Rentenbank		4.250%		1/24/23		AUD		53,600			40,474
8	Landwirtschaftliche Rentenbank		4.250%		1/9/25		AUD		13,500			10,649
8	Landwirtschaftliche Rentenbank		4.750%		4/8/24		AUD		4,000			3,166
8	Landwirtschaftliche Rentenbank		5.500%		3/29/22		AUD		8,500			6,456
	NRW Bank		0.000%		8/2/21		EUR		20,000			22,462

59

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	NRW Bank		0.000%		2/1/22		EUR		30,000			33,802
	NRW Bank		0.100%		1/10/23		EUR		25,000			28,339
	NRW Bank		0.125%		3/10/23		EUR		5,000			5,678
	NRW Bank		0.250%		1/20/22		EUR		45,000			50,920
	NRW Bank		0.250%		3/10/25		EUR		15,000			17,217
	NRW Bank		0.250%		9/28/26		EUR		5,950			6,843
	NRW Bank		0.375%		5/16/29		EUR		7,250			8,405
	NRW Bank		0.500%		5/11/26		EUR		12,000			14,025
	NRW Bank		0.500%		9/13/27		EUR		15,000			17,594
	NRW Bank		0.625%		2/11/26		EUR		15,000			17,643
	NRW Bank		0.625%		2/23/27		EUR		15,000			17,738
	NRW Bank		0.625%		1/4/28		EUR		7,000			8,293
	NRW Bank		1.000%		6/15/22		GBP		1,000			1,300
	NRW Bank		1.250%		5/13/49		EUR		10,000			13,232
	State of Baden-Wurttemberg		0.625%		2/9/27		EUR		10,000			11,831
	State of Baden-Wurttemberg		1.000%		7/18/22		EUR		5,000			5,792
	State of Baden-Wurttemberg		2.000%		11/13/23		EUR		8,000			9,788
	State of Berlin		0.625%		3/20/26		EUR		25,000			29,465
	State of Berlin		0.625%		8/25/36		EUR		2,500			2,917
	State of Berlin		0.750%		11/11/22		EUR		10,000			11,547
	State of Berlin		1.000%		5/19/32		EUR		15,000			18,456
	State of Berlin		1.500%		1/21/21		EUR		3,300			3,767
	State of Berlin		1.875%		6/12/23		EUR		1,800			2,173
	State of Berlin		3.125%		8/17/21		EUR		30,300			35,953
	State of Brandenburg		0.750%		8/8/36		EUR		10,000			11,946
	State of Brandenburg		1.450%		11/26/38		EUR		10,000			13,223
	State of Brandenburg		3.500%		6/15/21		EUR		15,000			17,797
	State of Bremen		0.500%		7/30/21		EUR		15,000			16,995
	State of Bremen		0.500%		3/3/25		EUR		13,000			15,117
	State of Bremen		1.000%		5/27/39		EUR		12,500			15,323
	State of Bremen		1.375%		4/28/21		EUR		1,000			1,145
	State of Bremen		1.500%		11/12/38		EUR		4,930			6,542
8	State of Hesse		0.000%		9/15/21		EUR		4,900			5,514
	State of Hesse		0.250%		6/10/25		EUR		25,000			28,739
	State of Hesse		0.375%		7/4/22		EUR		10,000			11,388
	State of Hesse		0.375%		3/10/23		EUR		38,000			43,471
	State of Hesse		0.375%		7/6/26		EUR		20,000			23,214
	State of Hesse		0.500%		2/17/25		EUR		10,500			12,214
	State of Hesse		0.750%		8/4/36		EUR		12,000			14,268
	State of Hesse		1.300%		10/10/33		EUR		5,000			6,400
	State of Hesse		1.375%		6/10/24		EUR		4,000			4,818
	State of Hesse		1.750%		1/20/23		EUR		3,000			3,579
	State of Hesse		3.000%		8/23/21		EUR		12,000			14,214
	State of Lower Saxony		0.000%		3/1/21		EUR		18,200			20,409
	State of Lower Saxony		0.000%		1/10/22		EUR		10,000			11,252
	State of Lower Saxony		0.000%		8/2/24		EUR		47,000			53,269
	State of Lower Saxony		0.050%		11/10/22		EUR		10,000			11,308
	State of Lower Saxony		0.125%		3/7/23		EUR		20,000			22,694
	State of Lower Saxony		0.125%		4/8/27		EUR		2,000			2,283
	State of Lower Saxony		0.375%		1/19/23		EUR		15,000			17,144
	State of Lower Saxony		0.375%		5/14/29		EUR		6,000			6,971
	State of Lower Saxony		0.500%		6/8/26		EUR		2,500			2,924
	State of Lower Saxony		0.625%		1/20/25		EUR		10,000			11,704
	State of Lower Saxony		0.625%		7/6/27		EUR		20,000			23,689

60

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	State of Lower Saxony		1.000%		8/18/22		EUR		11,000			12,752
	State of Lower Saxony		2.125%		10/11/23		EUR		1,000			1,226
	State of Lower Saxony		2.125%		1/16/24		EUR		310			382
	State of Lower Saxony		2.750%		9/13/21		EUR		21,500			25,399
	State of North Rhine-Westphalia Germany		0.200%		4/17/23		EUR		22,000			25,028
	State of North Rhine-Westphalia Germany		0.200%		2/16/24		EUR		29,866			34,103
	State of North Rhine-Westphalia Germany		0.250%		3/13/26		EUR		17,320			19,939
	State of North Rhine-Westphalia Germany		0.375%		10/19/21		EUR		10,000			11,331
	State of North Rhine-Westphalia Germany		0.375%		2/16/23		EUR		4,300			4,916
	State of North Rhine-Westphalia Germany		0.500%		3/11/25		EUR		3,000			3,490
	State of North Rhine-Westphalia Germany		0.500%		4/16/26		EUR		10,000			11,693
	State of North Rhine-Westphalia Germany		0.500%		2/16/27		EUR		20,400			23,920
	State of North Rhine-Westphalia Germany		0.625%		7/21/31		EUR		15,000			17,688
	State of North Rhine-Westphalia Germany		0.750%		1/16/26		EUR		15,000			17,773
	State of North Rhine-Westphalia Germany		0.750%		8/16/41		EUR		2,000			2,336
	State of North Rhine-Westphalia Germany		0.800%		7/30/49		EUR		10,575			12,452
	State of North Rhine-Westphalia Germany		0.950%		3/13/28		EUR		28,000			34,063
	State of North Rhine-Westphalia Germany		1.000%		1/16/25		EUR		220			262
	State of North Rhine-Westphalia Germany		1.100%		3/13/34		EUR		27,000			33,717
	State of North Rhine-Westphalia Germany		1.250%		5/12/36		EUR		14,000			17,845
	State of North Rhine-Westphalia Germany		1.375%		5/16/22		EUR		5,050			5,887
	State of North Rhine-Westphalia Germany		1.450%		2/16/43		EUR		5,000			6,689
	State of North Rhine-Westphalia Germany		1.500%		12/15/20		EUR		48,000			54,694
	State of North Rhine-Westphalia Germany		1.500%		1/14/21		EUR		4,000			4,566
	State of North Rhine-Westphalia Germany		1.500%		6/12/40		EUR		10,000			13,365
	State of North Rhine-Westphalia Germany		1.550%		6/16/48		EUR		10,000			13,979
	State of North Rhine-Westphalia Germany		1.625%		10/24/30		EUR		10,000			13,026
	State of North Rhine-Westphalia Germany		1.650%		2/22/38		EUR		10,000			13,571
	State of North Rhine-Westphalia Germany		1.650%		5/16/47		EUR		10,000			14,178
	State of North Rhine-Westphalia Germany		1.750%		10/26/57		EUR		16,000			23,931
	State of North Rhine-Westphalia Germany		1.750%		7/11/68		EUR		5,000			7,581
	State of North Rhine-Westphalia Germany		1.875%		9/15/22		EUR		11,150			13,257
	State of North Rhine-Westphalia Germany		1.875%		3/15/24		EUR		1,950			2,388
	State of North Rhine-Westphalia Germany		1.950%		9/26/78		EUR		18,700			29,801
	State of North Rhine-Westphalia Germany		2.000%		10/15/25		EUR		3,000			3,804
	State of North Rhine-Westphalia Germany		2.150%		3/21/19		EUR		10,030			16,893
	State of North Rhine-Westphalia Germany		2.375%		5/13/33		EUR		36,400			52,180
	State of Rhineland-Palatinate		0.100%		8/18/26		EUR		10,000			11,403
	State of Rhineland-Palatinate		0.500%		9/3/21		EUR		5,000			5,674
	State of Rhineland-Palatinate		0.500%		1/21/25		EUR		6,000			6,978
	State of Rhineland-Palatinate		0.700%		1/26/28		EUR		10,000			11,935
	State of Rhineland-Palatinate		2.375%		2/23/22		EUR		2,500			2,969
	State of Saxony-Anhalt		0.500%		6/25/27		EUR		2,500			2,935
	State of Saxony-Anhalt		1.625%		4/25/23		EUR		4,000			4,779
	State of Saxony-Anhalt		1.875%		4/10/24		EUR		9,000			11,032
	Wirtschafts- und Infrastrukturbank Hessen		1.750%		12/6/22		EUR		2,500			2,972
												10,556,543
Total Germany (Cost $13,125,321)												13,463,557
Hong Kong (0.1%)
Corporate Bonds (0.1%)
	Cheung Kong Infrastructure Finance BVI Ltd.		1.000%		12/12/24		EUR		600			682
	CK Hutchison Europe Finance 18 Ltd.		1.250%		4/13/25		EUR		10,300			11,919
	CK Hutchison Europe Finance 18 Ltd.		2.000%		4/13/30		EUR		1,400			1,721

61

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	CK Hutchison Finance 16 II Ltd.		0.875%		10/3/24		EUR		11,400			12,982
	CK Hutchison Finance 16 Ltd.		1.250%		4/6/23		EUR		17,000			19,579
	CK Hutchison Finance 16 Ltd.		2.000%		4/6/28		EUR		100			122
	Hong Kong & Shanghai Banking Corp. Ltd.		2.750%		8/16/21		AUD		400			282
	Hutchison Whampoa Finance 14 Ltd.		1.375%		10/31/21		EUR		100			114
												47,401
Sovereign Bonds (0.0%)
	Hong Kong Special Administrative Region		0.910%		11/5/20		HKD		100,000			12,655
	Hong Kong Special Administrative Region		1.970%		1/17/29		HKD		120,000			15,913
	Hong Kong Special Administrative Region		2.220%		8/7/24		HKD		30,000			3,973
												32,541
Total Hong Kong (Cost $78,366)												79,942
Hungary (0.1%)
Sovereign Bonds (0.1%)
	Republic of Hungary		0.500%		4/21/21		HUF		4,032,670			13,786
	Republic of Hungary		1.250%		10/22/25		EUR		10,000			11,924
	Republic of Hungary		1.750%		10/26/22		HUF		400,000			1,408
	Republic of Hungary		1.750%		10/10/27		EUR		4,400			5,516
	Republic of Hungary		2.500%		10/27/21		HUF		900,000			3,206
	Republic of Hungary		2.500%		10/24/24		HUF		1,467,000			5,356
	Republic of Hungary		2.750%		12/22/26		HUF		6,950,000			25,729
	Republic of Hungary		3.000%		10/27/27		HUF		19,922,490			75,095
	Republic of Hungary		3.000%		8/21/30		HUF		1,900,000			7,124
	Republic of Hungary		3.250%		10/22/31		HUF		950,000			3,624
	Republic of Hungary		5.500%		6/24/25		HUF		6,037,430			25,442
	Republic of Hungary		6.000%		11/24/23		HUF		2,910,000			11,987
	Republic of Hungary		6.750%		10/22/28		HUF		800,000			3,863
	Republic of Hungary		7.000%		6/24/22		HUF		534,000			2,136
Total Hungary (Cost $187,251)												196,196
Indonesia (0.7%)
Sovereign Bonds (0.7%)
	Indonesia Treasury Bond		6.500%		6/15/25		IDR		590,000,000			41,985
	Indonesia Treasury Bond		6.625%		5/15/33		IDR		2,049,414,000			136,292
	Indonesia Treasury Bond		7.000%		9/15/30		IDR		520,000,000			36,618
	Indonesia Treasury Bond		7.500%		5/15/38		IDR		719,972,000			50,884
	Republic of Indonesia		1.400%		10/30/31		EUR		8,430			9,358
	Republic of Indonesia		1.450%		9/18/26		EUR		4,420			5,099
	Republic of Indonesia		1.750%		4/24/25		EUR		13,400			15,657
	Republic of Indonesia		2.625%		6/14/23		EUR		200			239
	Republic of Indonesia		2.875%		7/8/21		EUR		11,020			12,804
	Republic of Indonesia		3.750%		6/14/28		EUR		18,700			25,296
	Republic of Indonesia		5.625%		5/15/23		IDR		913,604,000			63,622
	Republic of Indonesia		6.125%		5/15/28		IDR		1,930,000,000			130,770
	Republic of Indonesia		7.000%		5/15/27		IDR		1,591,251,000			114,099
	Republic of Indonesia		7.500%		8/15/32		IDR		200,000,000			14,350
	Republic of Indonesia		7.500%		6/15/35		IDR		327,200,000			23,375
	Republic of Indonesia		8.125%		5/15/24		IDR		550,000,000			41,703
	Republic of Indonesia		8.250%		7/15/21		IDR		150,000,000			11,075
	Republic of Indonesia		8.250%		5/15/29		IDR		1,134,350,000			87,665
	Republic of Indonesia		8.250%		5/15/36		IDR		467,800,000			35,116
	Republic of Indonesia		8.375%		3/15/24		IDR		1,440,785,000			109,897
	Republic of Indonesia		8.375%		9/15/26		IDR		200,000,000			15,559

62

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Republic of Indonesia		8.375%		3/15/34		IDR		50,000,000			3,833
	Republic of Indonesia		9.750%		5/15/37		IDR		130,303,000			11,062
Total Indonesia (Cost $970,172)												996,358
Ireland (0.7%)
Asset-Backed/Commercial Mortgage-Backed Security (0.0%)
	AIB Mortgage Bank		0.625%		2/3/22		EUR		3,000			3,420
Corporate Bonds (0.1%)
	AIB Group plc		2.250%		7/3/25		EUR		5,000			6,025
	AIB Mortgage Bank		2.250%		3/26/21		EUR		15,000			17,335
	Bank of Ireland Group plc		1.375%		8/29/23		EUR		15,200			17,502
	CRH Finance DAC		1.375%		10/18/28		EUR		1,300			1,553
	CRH Finance DAC		3.125%		4/3/23		EUR		10,850			13,359
	CRH Finance Switzerland AG		1.375%		9/30/22		CHF		5,300			5,576
	Dali Capital plc		4.799%		12/21/37		GBP		550			976
	Freshwater Finance plc		4.607%		10/17/36		GBP		1,125			1,955
	Kerry Group Financial Services		2.375%		9/10/25		EUR		10,500			13,082
	Roadster Finance DAC		2.375%		12/8/27		EUR		400			465
	Ryanair DAC		1.125%		8/15/23		EUR		3,000			3,444
												81,272
Sovereign Bonds (0.6%)
	ESB Finance DAC		2.125%		11/5/33		EUR		11,100			14,641
	ESB Finance Ltd.		2.125%		6/8/27		EUR		11,324			14,391
	ESB Finance Ltd.		3.494%		1/12/24		EUR		1,000			1,277
	GAS Networks Ireland		1.375%		12/5/26		EUR		2,500			2,996
	Ireland		0.000%		10/18/22		EUR		30,500			34,521
	Ireland		0.800%		3/15/22		EUR		57,280			65,901
	Ireland		1.000%		5/15/26		EUR		91,950			110,797
	Ireland		1.700%		5/15/37		EUR		25,190			33,707
	Ireland		2.000%		2/18/45		EUR		52,390			76,225
	Ireland		2.400%		5/15/30		EUR		29,090			40,403
	Ireland		3.400%		3/18/24		EUR		103,200			134,405
	Ireland		3.900%		3/20/23		EUR		22,965			29,434
	Ireland		5.000%		10/18/20		EUR		48,006			56,387
	Ireland		5.400%		3/13/25		EUR		10,735			15,657
	Republic of Ireland		0.900%		5/15/28		EUR		50,600			61,213
	Republic of Ireland		1.100%		5/15/29		EUR		25,000			30,802
	Republic of Ireland		1.300%		5/15/33		EUR		20,400			25,773
	Republic of Ireland		1.350%		3/18/31		EUR		40,000			50,603
	Republic of Ireland		1.500%		5/15/50		EUR		22,526			29,488
												828,621
Total Ireland (Cost $865,749)												913,313
Israel (0.3%)
Sovereign Bonds (0.3%)
	State of Israel		0.500%		1/31/21		ILS		22,600			6,441
	State of Israel		1.000%		4/30/21		ILS		65,000			18,673
	State of Israel		1.250%		11/30/22		ILS		95,170			27,797
	State of Israel		1.500%		11/30/23		ILS		54,800			16,255
	State of Israel		1.500%		1/18/27		EUR		25,457			31,057
	State of Israel		1.500%		1/16/29		EUR		5,000			6,155
	State of Israel		1.750%		8/31/25		ILS		229,500			69,540
	State of Israel		2.000%		3/31/27		ILS		162,000			50,185

63

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	State of Israel		2.250%		9/28/28		ILS		228,700			72,527
	State of Israel		2.500%		1/16/49		EUR		2,500			3,713
	State of Israel		2.875%		1/29/24		EUR		5,900			7,399
	State of Israel		3.750%		3/31/24		ILS		37,000			12,030
	State of Israel		3.750%		3/31/47		ILS		51,000			19,628
	State of Israel		4.250%		3/31/23		ILS		73,000			23,472
	State of Israel		5.500%		1/31/22		ILS		20,000			6,349
	State of Israel		5.500%		1/31/42		ILS		66,000			31,610
	State of Israel		6.250%		10/30/26		ILS		56,360			22,077
Total Israel (Cost $383,576)												424,908
Italy (7.9%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.2%)
	Banca Monte dei Paschi di Siena SPA		2.875%		7/16/24		EUR		5,640			6,923
1	Banca Monte dei Paschi di Siena SPA		2.875%		4/16/59		EUR		4,000			4,646
	Banca Popolare dell’Emilia Romagna SC		0.875%		1/22/22		EUR		5,000			5,689
	Banca Popolare di Milano Scarl		0.625%		6/8/23		EUR		10,000			11,298
	Banco BPM SPA		0.750%		3/31/22		EUR		10,000			11,302
	Banco BPM SPA		1.000%		1/23/25		EUR		15,000			17,082
	Banco di Desio e della Brianza SPA		0.875%		9/12/24		EUR		16,000			18,644
	Credit Agricole Cariparma SPA		0.250%		9/30/24		EUR		10,800			12,205
	Credit Agricole Cariparma SPA		0.875%		6/16/23		EUR		10,000			11,551
	Credit Agricole Italia SPA		0.875%		1/31/22		EUR		10,000			11,417
	Credit Agricole Italia SPA		1.750%		1/15/38		EUR		5,000			6,608
	Intesa Sanpaolo SPA		0.500%		3/5/24		EUR		9,500			10,904
	Intesa Sanpaolo SPA		0.625%		1/20/22		EUR		5,000			5,687
	Intesa Sanpaolo SPA		3.250%		2/10/26		EUR		9,000			12,106
	Intesa Sanpaolo SPA		3.375%		1/24/25		EUR		10,500			13,860
	Intesa Sanpaolo SPA		3.625%		12/5/22		EUR		4,200			5,244
	Mediobanca SPA		3.625%		10/17/23		EUR		5,000			6,409
	UniCredit SPA		5.000%		10/31/21		EUR		3,000			3,695
	UniCredit SPA		5.250%		4/30/23		EUR		9,000			11,955
	Unione di Banche Italiane SPA		0.375%		9/14/26		EUR		10,000			11,361
	Unione di Banche Italiane SPA		1.000%		1/27/23		EUR		18,500			21,413
	Unione di Banche Italiane SPA		1.125%		10/4/27		EUR		6,700			8,052
	Unione di Banche Italiane SPA		1.250%		2/7/25		EUR		2,500			2,980
	Unione di Banche Italiane SPA		3.125%		2/5/24		EUR		4,000			5,083
	Unione di Banche Italiane SPA		5.250%		1/28/21		EUR		2,500			2,973
												239,087
Corporate Bonds (0.5%)
	2i Rete Gas SPA		1.608%		10/31/27		EUR		1,500			1,787
	2i Rete Gas SPA		3.000%		7/16/24		EUR		13,000			16,366
	Aeroporti di Roma SPA		1.625%		6/8/27		EUR		11,000			12,614
	Aeroporti di Roma SPA		3.250%		2/20/21		EUR		3,800			4,401
	Aeroporti di Roma SPA		5.441%		2/20/23		GBP		250			359
	Assicurazioni Generali SPA		4.125%		5/4/26		EUR		2,600			3,386
	Assicurazioni Generali SPA		5.125%		9/16/24		EUR		7,280			10,058
1	Assicurazioni Generali SPA		5.500%		10/27/47		EUR		7,737			10,372
1	Assicurazioni Generali SPA		7.750%		12/12/42		EUR		6,000			8,111
	Atlantia SPA		1.625%		2/3/25		EUR		9,160			9,919
	Atlantia SPA		1.875%		7/13/27		EUR		400			426
	Atlantia SPA		2.875%		2/26/21		EUR		3,500			3,999
	Atlantia SPA		5.875%		6/9/24		EUR		4,600			6,002
	Atlantia SPA		6.250%		6/9/22		GBP		3,820			5,334

64

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Autostrade per l’Italia SPA		1.125%		11/4/21		EUR		5,000			5,579
	Autostrade per l’Italia SPA		1.750%		2/1/27		EUR		550			586
	Autostrade per l’Italia SPA		1.875%		11/4/25		EUR		17,340			18,815
	Autostrade per l’Italia SPA		4.375%		9/16/25		EUR		1,100			1,365
	Banca Monte dei Paschi di Siena SPA		1.250%		1/20/22		EUR		5,000			5,723
	Banca Monte dei Paschi di Siena SPA		2.125%		11/26/25		EUR		9,000			10,865
	BPER Banca		1.125%		4/22/26		EUR		10,000			11,814
	Buzzi Unicem SPA		2.125%		4/28/23		EUR		1,300			1,527
	Covivio		2.375%		2/20/28		EUR		200			251
	Credit Agricole Cariparma SPA		0.625%		1/13/26		EUR		5,600			6,442
	Credit Agricole Italia SPA		1.000%		3/25/27		EUR		5,000			5,906
	Credito Emiliano SPA		1.125%		1/17/24		EUR		10,000			11,654
	Enel Finance International NV		1.000%		9/16/24		EUR		3,100			3,594
	Enel Finance International NV		1.125%		9/16/26		EUR		4,800			5,640
	Enel Finance International NV		1.375%		6/1/26		EUR		42,145			50,387
	Enel Finance International NV		1.966%		1/27/25		EUR		8,716			10,593
	Enel Finance International NV		4.875%		4/17/23		EUR		2,400			3,126
	Enel Finance International NV		5.000%		7/12/21		EUR		2,000			2,421
	Enel Finance International NV		5.250%		9/29/23		EUR		736			985
	Enel Finance International NV		5.625%		8/14/24		GBP		3,700			5,690
	Enel Finance International NV		5.750%		9/14/40		GBP		9,700			18,437
1	Enel SPA		2.500%		11/24/78		EUR		11,100			12,818
1	Enel SPA		3.375%		11/24/81		EUR		300			359
	Enel SPA		5.750%		6/22/37		GBP		1,000			1,841
1	Enel SPA		6.625%		9/15/76		GBP		20,627			29,076
	Eni SPA		0.625%		9/19/24		EUR		10,000			11,401
	Eni SPA		0.750%		5/17/22		EUR		500			569
	Eni SPA		1.125%		9/19/28		EUR		5,500			6,473
	Eni SPA		1.500%		2/2/26		EUR		800			960
	Eni SPA		1.500%		1/17/27		EUR		5,000			6,040
	Eni SPA		1.625%		5/17/28		EUR		3,000			3,667
	Eni SPA		2.625%		11/22/21		EUR		3,000			3,530
	Eni SPA		3.250%		7/10/23		EUR		10,960			13,671
	Eni SPA		3.750%		9/12/25		EUR		6,600			8,859
	FCA Bank SPA		1.000%		11/15/21		EUR		23,900			27,123
	FCA Bank SPA		1.000%		2/21/22		EUR		100			114
	FCA Bank SPA		1.250%		1/21/21		EUR		300			340
	FCA Bank SPA		1.250%		6/21/22		EUR		110			126
	FCA Bank SPA		1.625%		9/29/21		GBP		3,000			3,882
	Intesa Sanpaolo SPA		0.875%		6/27/22		EUR		12,600			14,329
	Intesa Sanpaolo SPA		1.125%		3/4/22		EUR		1,700			1,940
	Intesa Sanpaolo SPA		1.125%		7/14/25		EUR		10,000			11,937
	Intesa Sanpaolo SPA		1.375%		1/18/24		EUR		15,000			17,343
	Intesa Sanpaolo SPA		1.750%		3/20/28		EUR		16,078			18,943
	Intesa Sanpaolo SPA		1.750%		7/4/29		EUR		19,000			22,191
	Intesa Sanpaolo SPA		2.000%		6/18/21		EUR		12,228			14,071
	Intesa Sanpaolo SPA		2.125%		8/30/23		EUR		8,000			9,497
	Intesa Sanpaolo SPA		3.500%		1/17/22		EUR		8,100			9,700
	Intesa Sanpaolo SPA		4.000%		10/30/23		EUR		6,100			7,753
	Iren SPA		1.950%		9/19/25		EUR		6,000			7,286
	Italgas SPA		0.500%		1/19/22		EUR		18,000			20,286
	Italgas SPA		1.625%		1/19/27		EUR		5,000			6,059
	Luxottica Group SPA		2.625%		2/10/24		EUR		9,200			11,393

65

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Mediobanca Banca di Credito Finanziario SPA		1.375%		11/10/25		EUR		10,800			12,996
	Mediobanca SPA		1.250%		11/24/29		EUR		2,600			3,163
	Mediobanca SPA		1.625%		1/19/21		EUR		5,000			5,684
	Snam SPA		0.875%		10/25/26		EUR		19,655			22,742
	Snam SPA		1.000%		9/18/23		EUR		100			115
	Snam SPA		1.250%		1/25/25		EUR		500			588
	Societa Iniziative Autostradali e Servizi SPA		1.625%		2/8/28		EUR		9,911			11,315
	Terna Rete Elettrica Nazionale SPA		0.875%		2/2/22		EUR		7,066			8,036
	Terna Rete Elettrica Nazionale SPA		1.000%		10/11/28		EUR		13,300			15,479
	Terna Rete Elettrica Nazionale SPA		1.375%		7/26/27		EUR		9,740			11,634
	Terna Rete Elettrica Nazionale SPA		4.750%		3/15/21		EUR		6,000			7,136
	UniCredit SPA		0.375%		10/31/26		EUR		12,750			14,600
1	UniCredit SPA		1.250%		6/25/25		EUR		23,300			26,708
	UniCredit SPA		2.000%		3/4/23		EUR		10,000			11,782
	UniCredit SPA		3.250%		1/14/21		EUR		1,500			1,739
1	UniCredit SPA		4.375%		1/3/27		EUR		4,000			4,773
1	UniCredit SPA		4.875%		2/20/29		EUR		2,000			2,508
	UniCredit SPA		6.950%		10/31/22		EUR		7,000			9,218
	Unione di Banche Italiane SPA		0.500%		7/15/24		EUR		5,500			6,305
	Unione di Banche Italiane SPA		0.750%		10/17/22		EUR		100			112
	Unione di Banche Italiane SPA		1.000%		9/25/25		EUR		10,000			11,846
	Unione di Banche Italiane SPA		1.250%		1/15/30		EUR		500			608
	Unione di Banche Italiane SPA		1.500%		4/10/24		EUR		5,000			5,733
												772,931
Sovereign Bonds (7.2%)
	A2A SPA		1.250%		3/16/24		EUR		4,000			4,640
	ACEA SPA		1.000%		10/24/26		EUR		7,121			8,217
	ACEA SPA		1.500%		6/8/27		EUR		4,847			5,768
	ACEA SPA		1.750%		5/23/28		EUR		10,170			12,280
	ACEA SPA		2.625%		7/15/24		EUR		3,200			3,941
	Cassa Depositi e Prestiti SPA		1.500%		6/21/24		EUR		5,000			5,814
	Cassa Depositi e Prestiti SPA		1.500%		4/9/25		EUR		7,700			8,958
	Cassa Depositi e Prestiti SPA		1.875%		2/7/26		EUR		5,000			5,952
	Cassa Depositi e Prestiti SPA		2.125%		9/27/23		EUR		5,000			5,953
	Cassa Depositi e Prestiti SPA		2.750%		5/31/21		EUR		8,000			9,318
	Hera SPA		0.875%		10/14/26		EUR		5,000			5,774
	Hera SPA		0.875%		7/5/27		EUR		10,000			11,500
	Hera SPA		5.200%		1/29/28		EUR		6,000			9,170
2	Italy Buoni Poliennali Del Tesoro		3.100%		3/1/40		EUR		60,000			82,402
	Republic of Italy		0.000%		11/27/20		EUR		102,000			113,994
	Republic of Italy		0.000%		6/29/21		EUR		50,000			55,866
	Republic of Italy		0.050%		4/15/21		EUR		100,000			111,966
	Republic of Italy		0.200%		10/15/20		EUR		75,000			84,010
	Republic of Italy		0.450%		6/1/21		EUR		201,100			226,492
	Republic of Italy		0.950%		3/1/23		EUR		240,000			275,329
	Republic of Italy		1.000%		7/15/22		EUR		106,198			121,719
	Republic of Italy		1.350%		4/15/22		EUR		255,559			294,796
	Republic of Italy		1.500%		6/1/25		EUR		62,500			73,767
	Republic of Italy		1.750%		7/1/24		EUR		486,133			578,386
	Republic of Italy		2.000%		2/1/28		EUR		68,386			84,040
	Republic of Italy		2.050%		8/1/27		EUR		474,273			582,564
	Republic of Italy		2.100%		7/15/26		EUR		543,043			665,106
	Republic of Italy		2.150%		12/15/21		EUR		111,200			129,944

66

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Republic of Italy		2.200%		6/1/27		EUR		57,700			71,523
	Republic of Italy		2.300%		10/15/21		EUR		159,835			186,643
	Republic of Italy		2.450%		10/1/23		EUR		541,311			656,827
	Republic of Italy		2.500%		11/15/25		EUR		86,733			108,111
2	Republic of Italy		2.800%		3/1/67		EUR		20,637			26,686
2	Republic of Italy		2.950%		9/1/38		EUR		120,190			162,522
	Republic of Italy		3.000%		8/1/29		EUR		380,078			506,554
2	Republic of Italy		3.350%		3/1/35		EUR		444,514			624,494
2	Republic of Italy		3.500%		3/1/30		EUR		147,000			204,175
	Republic of Italy		3.750%		3/1/21		EUR		80,300			94,290
2	Republic of Italy		3.750%		5/1/21		EUR		126,450			149,375
2	Republic of Italy		3.750%		8/1/21		EUR		301,225			358,818
	Republic of Italy		3.750%		9/1/24		EUR		58,900			76,384
2	Republic of Italy		3.850%		9/1/49		EUR		338,017			532,264
2	Republic of Italy		4.000%		2/1/37		EUR		120,310			183,113
	Republic of Italy		4.500%		5/1/23		EUR		164,680			211,704
	Republic of Italy		4.500%		3/1/24		EUR		93,780			123,657
2	Republic of Italy		4.500%		3/1/26		EUR		215,575			299,730
	Republic of Italy		4.750%		9/1/21		EUR		27,500			33,397
2	Republic of Italy		4.750%		8/1/23		EUR		45,580			59,517
2	Republic of Italy		4.750%		9/1/44		EUR		107,980			188,511
	Republic of Italy		5.000%		3/1/22		EUR		37,895			47,290
2	Republic of Italy		5.000%		3/1/25		EUR		235,471			326,066
2	Republic of Italy		5.000%		8/1/34		EUR		92,730			152,846
2	Republic of Italy		5.000%		8/1/39		EUR		44,430			76,978
2	Republic of Italy		5.000%		9/1/40		EUR		164,460			285,257
	Republic of Italy		5.250%		11/1/29		EUR		53,510			84,110
	Republic of Italy		5.500%		9/1/22		EUR		62,500			80,618
	Republic of Italy		5.500%		11/1/22		EUR		70,000			90,853
	Republic of Italy		5.750%		2/1/33		EUR		97,200			167,044
	Republic of Italy		6.000%		8/4/28		GBP		11,900			19,830
	Republic of Italy		6.000%		5/1/31		EUR		96,345			164,372
	Republic of Italy		6.500%		11/1/27		EUR		795			1,282
	Republic of Italy		7.250%		11/1/26		EUR		60,300			97,639
	Republic of Italy		9.000%		11/1/23		EUR		31,000			46,680
												10,076,826
Total Italy (Cost $10,324,712)												11,088,844
Japan (19.6%)
Corporate Bonds (0.3%)
	American Honda Finance Corp.		0.350%		8/26/22		EUR		2,820			3,174
	American Honda Finance Corp.		0.750%		1/17/24		EUR		7,200			8,248
	American Honda Finance Corp.		1.375%		11/10/22		EUR		5,100			5,918
	Asahi Group Holdings Ltd.		0.321%		9/19/21		EUR		700			785
	Daiichi Sankyo Co. Ltd.		0.810%		7/25/36		JPY		400,000			3,801
	Denso Corp.		0.315%		3/17/28		JPY		800,000			7,455
	East Japan Railway Co.		4.500%		1/25/36		GBP		1,300			2,353
	East Japan Railway Co.		4.875%		6/14/34		GBP		5,500			10,165
	Fast Retailing Co. Ltd.		0.405%		6/6/28		JPY		1,400,000			13,143
	Fast Retailing Co. Ltd.		0.749%		12/18/25		JPY		100,000			957
	Honda Canada Finance Inc.		2.268%		7/15/22		CAD		5,000			3,797
	JT International Financial Services BV		2.750%		9/28/33		GBP		5,100			6,953
	Kansai Electric Power Co. Inc.		0.280%		4/25/24		JPY		92,000			855
	Kansai Electric Power Co. Inc.		0.460%		12/20/27		JPY		700,000			6,521

67

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Kansai Electric Power Co. Inc.		0.470%		5/25/27		JPY		175,000			1,633
	Kansai Electric Power Co. Inc.		0.490%		7/23/27		JPY		244,000			2,280
	Kirin Holdings Co. Ltd.		1.239%		9/24/21		JPY		300,000			2,840
	Kyushu Electric Power Co. Inc.		0.430%		5/25/29		JPY		180,000			1,678
	Kyushu Electric Power Co. Inc.		1.064%		2/23/24		JPY		200,000			1,927
1	Mitsubishi UFJ Financial Group Inc.		0.360%		10/31/28		JPY		400,000			3,645
	Mitsubishi UFJ Financial Group Inc.		0.366%		7/29/26		JPY		111,000			1,025
	Mitsubishi UFJ Financial Group Inc.		0.535%		4/28/26		JPY		100,000			934
	Mitsubishi UFJ Financial Group Inc.		0.535%		5/31/28		JPY		300,000			2,797
	Mitsubishi UFJ Financial Group Inc.		0.652%		7/26/27		JPY		200,000			1,885
	Mitsubishi UFJ Financial Group Inc.		0.680%		1/26/23		EUR		10,000			11,328
	Mitsubishi UFJ Financial Group Inc.		0.848%		7/19/29		EUR		6,000			6,890
	Mitsubishi UFJ Financial Group Inc.		0.872%		9/7/24		EUR		15,000			17,180
	Mitsubishi UFJ Financial Group Inc.		0.940%		6/26/24		JPY		200,000			1,902
	Mizuho Financial Group Inc.		0.100%		7/22/21		JPY		300,000			2,759
	Mizuho Financial Group Inc.		0.402%		9/6/29		EUR		5,000			5,497
1	Mizuho Financial Group Inc.		0.500%		1/26/27		JPY		200,000			1,853
	Mizuho Financial Group Inc.		0.523%		6/10/24		EUR		2,300			2,590
	Mizuho Financial Group Inc.		0.650%		1/26/27		JPY		261,000			2,452
	Mizuho Financial Group Inc.		0.956%		10/16/24		EUR		4,950			5,683
	Mizuho Financial Group Inc.		1.020%		10/11/23		EUR		9,200			10,563
	MUFG Bank Ltd.		0.875%		3/11/22		EUR		5,000			5,692
	MUFG Bank Ltd.		1.390%		5/31/22		JPY		100,000			956
	MUFG Bank Ltd.		1.560%		1/20/21		JPY		1,400,000			13,189
	MUFG Bank Ltd.		1.950%		11/12/25		JPY		500,000			5,108
	Nippon Telegraph & Telephone Corp.		1.020%		9/17/21		JPY		500,000			4,713
	Nippon Telegraph & Telephone Corp.		1.310%		12/18/20		JPY		500,000			4,694
	Nissan Motor Co. Ltd.		0.150%		3/19/21		JPY		1,500,000			13,874
	Nomura Europe Finance NV		1.500%		5/12/21		EUR		5,600			6,386
	Norinchukin Bank		0.230%		1/27/21		JPY		1,000,000			9,278
	Panasonic Corp.		0.300%		9/20/23		JPY		400,000			3,735
	Panasonic Corp.		0.470%		9/18/26		JPY		1,800,000			16,859
	Panasonic Corp.		0.934%		3/19/25		JPY		1,200,000			11,583
	Resona Bank Ltd.		1.780%		3/15/22		JPY		500,000			4,802
	Shinkin Central Bank		0.030%		10/27/21		JPY		2,600,000			24,065
	Shinkin Central Bank		0.070%		3/26/21		JPY		200,000			1,852
	Shinkin Central Bank		0.110%		6/27/23		JPY		300,000			2,784
	Shinkin Central Bank		0.110%		10/27/23		JPY		200,000			1,857
	Sony Corp.		0.230%		9/17/21		JPY		1,200,000			11,139
	Sumitomo Mitsui Banking Corp.		1.000%		1/19/22		EUR		5,100			5,812
	Sumitomo Mitsui Banking Corp.		1.610%		12/17/20		JPY		300,000			2,824
	Sumitomo Mitsui Banking Corp.		2.250%		12/16/20		EUR		18,500			21,188
	Sumitomo Mitsui Banking Corp.		2.750%		7/24/23		EUR		500			613
	Sumitomo Mitsui Financial Group Inc.		0.585%		3/16/28		JPY		285,000			2,659
	Sumitomo Mitsui Financial Group Inc.		0.606%		1/18/22		EUR		200			226
	Sumitomo Mitsui Financial Group Inc.		0.819%		7/23/23		EUR		1,600			1,825
	Sumitomo Mitsui Financial Group Inc.		0.849%		9/12/24		JPY		1,500,000			14,172
	Sumitomo Mitsui Financial Group Inc.		0.934%		10/11/24		EUR		200			230
	Sumitomo Mitsui Financial Group Inc.		1.546%		6/15/26		EUR		11,200			13,473
	Sumitomo Mitsui Financial Group Inc.		3.662%		3/29/22		AUD		4,400			3,158
	Sumitomo Mitsui Trust Bank Ltd.		1.620%		3/22/22		JPY		500,000			4,790
2	Takeda Pharmaceutical Co. Ltd.		0.375%		11/21/20		EUR		9,200			10,317
2	Takeda Pharmaceutical Co. Ltd.		1.125%		11/21/22		EUR		7,300			8,402
2	Takeda Pharmaceutical Co. Ltd.		2.250%		11/21/26		EUR		8,300			10,398

68

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Takeda Pharmaceutical Co. Ltd.		2.250%		11/21/26		EUR		300			376
2	Takeda Pharmaceutical Co. Ltd.		3.000%		11/21/30		EUR		9,000			12,053
	Toyota Finance Australia Ltd.		0.500%		4/6/23		EUR		1,100			1,248
	Toyota Finance Australia Ltd.		1.625%		7/11/22		GBP		2,200			2,891
	Toyota Finance Australia Ltd.		3.100%		5/19/22		AUD		6,928			4,964
	Toyota Motor Credit Corp.		0.750%		7/21/22		EUR		1,600			1,825
	Toyota Motor Credit Corp.		1.000%		9/10/21		EUR		13,300			15,137
	Toyota Motor Credit Corp.		1.125%		9/7/21		GBP		4,000			5,195
	Toyota Motor Credit Corp.		2.750%		7/26/21		AUD		1,450			1,023
	Toyota Motor Finance Netherlands BV		0.250%		1/10/22		EUR		200			225
	Toyota Motor Finance Netherlands BV		0.625%		9/26/23		EUR		12,700			14,529
												465,585
Sovereign Bonds (19.3%)
	Central Nippon Expressway Co. Ltd.		0.030%		7/14/21		JPY		900,000			8,333
	Central Nippon Expressway Co. Ltd.		0.030%		9/17/21		JPY		1,000,000			9,258
	Central Nippon Expressway Co. Ltd.		0.070%		3/18/22		JPY		1,600,000			14,827
	Deposit Insurance Corp. of Japan		0.100%		10/19/21		JPY		1,800,000			16,711
11	Deposit Insurance Corp. of Japan		0.100%		10/14/22		JPY		2,900,000			26,962
11	Development Bank of Japan Inc.		0.020%		3/16/26		JPY		45,500			423
	Development Bank of Japan Inc.		0.161%		12/18/20		JPY		100,000			927
11	Development Bank of Japan Inc.		0.450%		3/13/25		JPY		400,000			3,807
11	Development Bank of Japan Inc.		0.466%		12/12/24		JPY		600,000			5,706
11	Development Bank of Japan Inc.		0.645%		3/18/24		JPY		501,000			4,782
11	Development Bank of Japan Inc.		0.819%		9/20/22		JPY		286,000			2,715
11	Development Bank of Japan Inc.		1.700%		9/20/22		JPY		760,000			7,430
	East Nippon Expressway Co. Ltd.		0.030%		6/18/21		JPY		500,000			4,629
	East Nippon Expressway Co. Ltd.		0.060%		6/18/21		JPY		280,000			2,593
	East Nippon Expressway Co. Ltd.		0.090%		6/20/22		JPY		600,000			5,566
	East Nippon Expressway Co. Ltd.		0.090%		12/20/22		JPY		500,000			4,638
	Japan		0.100%		12/1/20		JPY		17,600,000			163,528
	Japan		0.100%		12/20/20		JPY		7,500,000			69,713
	Japan		0.100%		1/1/21		JPY		39,650,000			368,507
	Japan		0.100%		2/1/21		JPY		33,300,000			309,572
	Japan		0.100%		3/20/21		JPY		5,600,000			52,098
	Japan		0.100%		5/1/21		JPY		7,000,000			65,129
	Japan		0.100%		6/1/21		JPY		7,800,000			72,589
	Japan		0.100%		6/20/21		JPY		53,270,000			495,847
	Japan		0.100%		7/1/21		JPY		12,000,000			111,710
	Japan		0.100%		9/1/21		JPY		5,400,000			50,297
	Japan		0.100%		9/20/21		JPY		45,950,000			428,055
	Japan		0.100%		10/1/21		JPY		40,000,000			372,801
	Japan		0.100%		12/20/21		JPY		5,150,000			48,019
	Japan		0.100%		3/20/22		JPY		31,475,000			293,751
	Japan		0.100%		6/20/22		JPY		65,910,000			615,704
	Japan		0.100%		9/20/22		JPY		40,000,000			374,026
	Japan		0.100%		12/20/22		JPY		32,600,000			305,117
	Japan		0.100%		3/20/23		JPY		34,500,000			323,193
	Japan		0.100%		6/20/23		JPY		34,300,000			321,611
	Japan		0.100%		9/20/23		JPY		58,450,000			548,504
	Japan		0.100%		12/20/23		JPY		22,613,750			212,408
	Japan		0.100%		3/20/24		JPY		41,270,000			388,033
	Japan		0.100%		6/20/24		JPY		29,850,000			280,956
	Japan		0.100%		3/20/26		JPY		5,100,000			48,394
	Japan		0.100%		6/20/26		JPY		5,208,300			49,404

69

Total International Bond Index Fund

							Face			Market
			Maturity				Amount			Value·
	Coupon		Date		Currency		(000		)	($000		)
Japan		0.100%		9/20/26		JPY		6,950,000			65,986
Japan		0.100%		12/20/26		JPY		20,280,000			192,701
Japan		0.100%		3/20/27		JPY		17,835,000			169,587
Japan		0.100%		6/20/27		JPY		15,250,000			145,106
Japan		0.100%		9/20/27		JPY		18,910,000			180,054
Japan		0.100%		12/20/27		JPY		27,125,000			258,325
Japan		0.100%		3/20/28		JPY		39,020,000			371,462
Japan		0.100%		6/20/28		JPY		29,500,000			280,694
Japan		0.100%		9/20/28		JPY		26,600,250			252,976
Japan		0.100%		9/20/28		JPY		1,620,000			15,407
Japan		0.100%		12/20/28		JPY		46,672,600			443,515
Japan		0.100%		3/20/29		JPY		40,170,000			381,326
Japan		0.100%		6/20/29		JPY		50,040,000			474,401
Japan		0.200%		6/20/36		JPY		13,000,000			121,443
Japan		0.300%		12/20/24		JPY		10,500,000			100,138
Japan		0.300%		12/20/25		JPY		32,700,000			313,735
Japan		0.300%		6/20/39		JPY		19,280,000			180,466
Japan		0.300%		6/20/46		JPY		5,800,000			52,912
Japan		0.400%		3/20/25		JPY		9,865,000			94,720
Japan		0.400%		6/20/25		JPY		8,000,000			76,945
Japan		0.400%		9/20/25		JPY		3,195,000			30,784
Japan		0.400%		3/20/36		JPY		20,420,000			197,752
Japan		0.400%		3/20/39		JPY		28,004,100			267,501
Japan		0.400%		6/20/49		JPY		18,883,600			174,571
Japan		0.400%		9/20/49		JPY		2,750,000			25,362
Japan		0.400%		3/20/56		JPY		11,335,000			103,858
Japan		0.500%		9/20/24		JPY		12,700,000			122,054
Japan		0.500%		12/20/24		JPY		7,730,000			74,459
Japan		0.500%		9/20/36		JPY		14,730,000			144,250
Japan		0.500%		3/20/38		JPY		33,875,000			330,569
Japan		0.500%		6/20/38		JPY		16,180,000			157,773
Japan		0.500%		12/20/38		JPY		20,081,600			195,505
Japan		0.500%		9/20/46		JPY		11,730,000			112,448
Japan		0.500%		3/20/49		JPY		14,000,000			133,226
Japan		0.500%		3/20/59		JPY		8,110,000			76,610
Japan		0.600%		3/20/23		JPY		12,020,000			114,540
Japan		0.600%		9/20/23		JPY		1,000,000			9,572
Japan		0.600%		12/20/23		JPY		15,660,000			150,229
Japan		0.600%		3/20/24		JPY		18,890,000			181,630
Japan		0.600%		6/20/24		JPY		710,000			6,843
Japan		0.600%		12/20/36		JPY		16,900,000			168,049
Japan		0.600%		6/20/37		JPY		12,020,000			119,460
Japan		0.600%		9/20/37		JPY		13,475,000			133,865
Japan		0.600%		12/20/37		JPY		18,405,550			182,766
Japan		0.600%		12/20/46		JPY		12,550,000			123,227
Japan		0.700%		12/20/22		JPY		4,025,000			38,394
Japan		0.700%		3/20/37		JPY		43,755,000			441,905
Japan		0.700%		9/20/38		JPY		18,020,000			181,744
Japan		0.700%		6/20/48		JPY		13,250,000			133,029
Japan		0.700%		12/20/48		JPY		13,998,500			140,441
Japan		0.800%		6/20/22		JPY		12,120,000			115,341
Japan		0.800%		9/20/22		JPY		4,170,000			39,786
Japan		0.800%		12/20/22		JPY		12,605,000			120,605
Japan		0.800%		6/20/23		JPY		13,713,500			131,904

70

Total International Bond Index Fund

							Face			Market
			Maturity				Amount			Value·
	Coupon		Date		Currency		(000		)	($000		)
Japan		0.800%		6/20/23		JPY		600,000			5,772
Japan		0.800%		9/20/23		JPY		1,256,000			12,113
Japan		0.800%		3/20/46		JPY		5,620,000			58,318
Japan		0.800%		3/20/47		JPY		2,411,000			24,824
Japan		0.800%		6/20/47		JPY		6,440,000			66,302
Japan		0.800%		9/20/47		JPY		12,090,000			124,459
Japan		0.800%		12/20/47		JPY		14,505,000			149,303
Japan		0.800%		3/20/48		JPY		21,215,000			218,346
Japan		0.800%		3/20/58		JPY		11,426,950			119,303
Japan		0.900%		3/20/22		JPY		4,740,000			45,092
Japan		0.900%		6/20/22		JPY		7,557,000			72,090
Japan		0.900%		9/20/48		JPY		14,094,450			148,574
Japan		0.900%		3/20/57		JPY		12,841,300			137,964
Japan		1.000%		9/20/21		JPY		138,000			1,308
Japan		1.000%		12/20/21		JPY		11,100,000			105,503
Japan		1.000%		3/20/22		JPY		8,120,000			77,425
Japan		1.000%		3/20/23		JPY		530,000			5,118
Japan		1.000%		12/20/35		JPY		6,300,000			66,635
Japan		1.100%		9/20/21		JPY		6,400,000			60,755
Japan		1.100%		12/20/21		JPY		4,200,000			40,003
Japan		1.200%		12/20/20		JPY		7,337,350			69,037
Japan		1.200%		6/20/21		JPY		6,000,000			56,857
Japan		1.200%		12/20/34		JPY		9,910,000			107,231
Japan		1.200%		3/20/35		JPY		11,040,000			119,613
Japan		1.200%		9/20/35		JPY		11,600,000			125,981
Japan		1.300%		3/20/21		JPY		9,634,000			91,097
Japan		1.300%		6/20/35		JPY		30,410,000			334,236
Japan		1.400%		12/20/22		JPY		6,500,000			63,328
Japan		1.400%		9/20/34		JPY		19,330,000			214,228
Japan		1.400%		9/20/45		JPY		2,860,000			33,620
Japan		1.400%		12/20/45		JPY		7,210,000			84,845
Japan		1.400%		3/20/55		JPY		7,685,000			94,674
Japan		1.500%		6/20/32		JPY		6,300,000			69,598
Japan		1.500%		3/20/33		JPY		12,463,100			138,428
Japan		1.500%		3/20/34		JPY		18,875,250			211,131
Japan		1.500%		6/20/34		JPY		8,680,000			97,238
Japan		1.500%		12/20/44		JPY		18,930,000			226,013
Japan		1.500%		3/20/45		JPY		10,765,000			128,697
Japan		1.600%		6/20/30		JPY		570,000			6,243
Japan		1.600%		3/20/32		JPY		8,950,000			99,706
Japan		1.600%		6/20/32		JPY		3,108,000			34,699
Japan		1.600%		3/20/33		JPY		10,564,000			118,671
Japan		1.600%		12/20/33		JPY		10,900,000			123,138
Japan		1.600%		6/20/45		JPY		4,200,000			51,231
Japan		1.700%		12/20/22		JPY		3,500,000			34,401
Japan		1.700%		9/20/31		JPY		25,000,000			279,737
Japan		1.700%		12/20/31		JPY		6,700,000			75,222
Japan		1.700%		3/20/32		JPY		3,200,000			36,015
Japan		1.700%		9/20/32		JPY		14,789,000			167,219
Japan		1.700%		12/20/32		JPY		11,230,000			127,276
Japan		1.700%		6/20/33		JPY		8,090,000			92,050
Japan		1.700%		6/20/33		JPY		1,550,000			17,641
Japan		1.700%		9/20/33		JPY		7,101,000			80,992
Japan		1.700%		12/20/43		JPY		5,231,700			64,342

71

Total International Bond Index Fund

							Face			Market
			Maturity				Amount			Value·
	Coupon		Date		Currency		(000		)	($000		)
Japan		1.700%		3/20/44		JPY		9,536,700			117,494
Japan		1.700%		6/20/44		JPY		6,316,400			77,951
Japan		1.700%		9/20/44		JPY		6,073,000			75,075
Japan		1.700%		3/20/54		JPY		7,175,000			94,327
Japan		1.800%		6/20/23		JPY		2,500,000			24,885
Japan		1.800%		6/20/30		JPY		40,000			446
Japan		1.800%		9/20/30		JPY		1,400,000			15,647
Japan		1.800%		6/20/31		JPY		4,500,000			50,756
Japan		1.800%		9/20/31		JPY		7,575,000			85,596
Japan		1.800%		12/20/31		JPY		25,062,000			284,189
Japan		1.800%		3/20/32		JPY		1,130,000			12,848
Japan		1.800%		12/20/32		JPY		6,000,000			68,722
Japan		1.800%		3/20/43		JPY		8,235,000			102,561
Japan		1.800%		9/20/43		JPY		3,486,750			43,552
Japan		1.900%		9/20/22		JPY		67,000			659
Japan		1.900%		9/20/23		JPY		3,055,000			30,675
Japan		1.900%		12/20/23		JPY		1,800,000			18,162
Japan		1.900%		3/20/24		JPY		500,000			5,071
Japan		1.900%		6/20/25		JPY		1,150,000			11,966
Japan		1.900%		12/20/28		JPY		7,240,000			80,033
Japan		1.900%		3/20/29		JPY		4,150,000			46,007
Japan		1.900%		9/20/30		JPY		4,370,000			49,274
Japan		1.900%		3/20/31		JPY		6,000,000			68,124
Japan		1.900%		6/20/31		JPY		5,950,000			67,704
Japan		1.900%		9/20/42		JPY		18,862,000			237,648
Japan		1.900%		6/20/43		JPY		7,405,650			93,880
Japan		1.900%		3/20/53		JPY		3,147,000			42,858
Japan		2.000%		6/21/21		JPY		4,000,000			38,386
Japan		2.000%		3/20/25		JPY		75,000			780
Japan		2.000%		12/20/25		JPY		3,340,000			35,292
Japan		2.000%		3/20/27		JPY		1,000,000			10,836
Japan		2.000%		6/20/30		JPY		5,000,000			56,745
Japan		2.000%		12/20/30		JPY		3,000,000			34,239
Japan		2.000%		3/20/31		JPY		12,180,000			139,483
Japan		2.000%		12/20/33		JPY		500,000			5,909
Japan		2.000%		9/20/40		JPY		17,972,000			225,926
Japan		2.000%		9/20/41		JPY		12,897,000			163,700
Japan		2.000%		3/20/42		JPY		15,226,850			194,237
Japan		2.000%		3/20/52		JPY		4,860,000			67,012
Japan		2.100%		12/20/21		JPY		105,000			1,021
Japan		2.100%		9/20/24		JPY		1,305,000			13,494
Japan		2.100%		6/20/25		JPY		3,000,000			31,520
Japan		2.100%		9/20/25		JPY		200,000			2,114
Japan		2.100%		3/20/26		JPY		860,000			9,185
Japan		2.100%		12/20/26		JPY		5,000,000			54,216
Japan		2.100%		3/20/27		JPY		350,000			3,817
Japan		2.100%		12/20/27		JPY		2,241,000			24,785
Japan		2.100%		9/20/28		JPY		6,126,000			68,528
Japan		2.100%		12/20/28		JPY		600,000			6,735
Japan		2.100%		3/20/29		JPY		4,513,000			50,832
Japan		2.100%		6/20/29		JPY		5,530,000			62,478
Japan		2.100%		9/20/29		JPY		8,580,000			97,210
Japan		2.100%		12/20/29		JPY		7,500,000			85,247
Japan		2.100%		3/20/30		JPY		80,000			913

72

Total International Bond Index Fund

								Face			Market
				Maturity				Amount			Value·
		Coupon		Date		Currency		(000		)	($000		)
	Japan		2.100%		12/20/30		JPY		8,170,000			94,203
	Japan		2.200%		3/20/26		JPY		800,000			8,589
	Japan		2.200%		9/20/26		JPY		60,000			651
	Japan		2.200%		9/20/27		JPY		15,000			166
	Japan		2.200%		3/20/28		JPY		3,950,000			44,168
	Japan		2.200%		9/20/28		JPY		1,200,000			13,523
	Japan		2.200%		12/20/29		JPY		6,590,000			75,526
	Japan		2.200%		3/20/30		JPY		6,300,000			72,479
	Japan		2.200%		3/20/31		JPY		500,000			5,832
	Japan		2.200%		9/20/39		JPY		8,928,000			114,374
	Japan		2.200%		3/20/41		JPY		13,268,000			172,707
	Japan		2.200%		3/20/49		JPY		1,625,000			22,733
	Japan		2.200%		3/20/50		JPY		2,240,000			31,592
	Japan		2.200%		3/20/51		JPY		3,058,000			43,456
	Japan		2.300%		9/20/26		JPY		35,000			382
	Japan		2.300%		6/20/27		JPY		20,000			222
	Japan		2.300%		5/20/30		JPY		170,000			1,977
	Japan		2.300%		3/20/35		JPY		2,500,000			30,943
	Japan		2.300%		6/20/35		JPY		3,580,000			44,486
	Japan		2.300%		12/20/35		JPY		2,510,000			31,346
	Japan		2.300%		12/20/36		JPY		808,000			10,214
	Japan		2.300%		3/20/39		JPY		4,508,000			58,231
	Japan		2.300%		3/20/40		JPY		4,580,000			59,823
	Japan		2.400%		3/20/28		JPY		5,850,000			66,330
	Japan		2.400%		6/20/28		JPY		1,030,000			11,729
	Japan		2.400%		3/20/34		JPY		3,700,000			45,801
	Japan		2.400%		12/20/34		JPY		2,300,000			28,727
	Japan		2.400%		3/20/37		JPY		3,614,000			46,383
	Japan		2.400%		9/20/38		JPY		2,532,000			33,025
	Japan		2.400%		3/20/48		JPY		800,000			11,496
	Japan		2.500%		6/20/34		JPY		2,013,000			25,263
	Japan		2.500%		9/20/34		JPY		400,000			5,036
	Japan		2.500%		9/20/35		JPY		1,000,000			12,744
	Japan		2.500%		3/20/36		JPY		2,208,000			28,342
	Japan		2.500%		6/20/36		JPY		1,450,000			18,670
	Japan		2.500%		9/20/36		JPY		600,000			7,750
	Japan		2.500%		9/20/37		JPY		17,000			222
	Japan		2.500%		3/20/38		JPY		2,917,000			38,335
11	Japan Bank for International Cooperation		2.625%		12/15/20		GBP		3,500			4,617
11	Japan Expressway Holding & Debt Repayment Agency		0.090%		9/30/27		JPY		2,969,000			27,768
11	Japan Expressway Holding & Debt Repayment Agency		0.130%		6/30/27		JPY		300,000			2,815
11	Japan Expressway Holding & Debt Repayment Agency		0.140%		4/30/27		JPY		2,300,000			21,598
11	Japan Expressway Holding & Debt Repayment Agency		0.149%		7/31/36		JPY		2,000,000			18,321
11	Japan Expressway Holding & Debt Repayment Agency		0.155%		8/31/27		JPY		2,100,000			19,746
	Japan Expressway Holding & Debt Repayment Agency		0.160%		11/30/27		JPY		600,000			5,643
11	Japan Expressway Holding & Debt Repayment Agency		0.170%		10/29/27		JPY		2,200,000			20,705

73

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Japan Expressway Holding & Debt Repayment Agency	0.185%	1/31/28	JPY	1,500,000		14,121
11	Japan Expressway Holding & Debt Repayment Agency	0.306%	4/30/36	JPY	1,200,000		11,302
11	Japan Expressway Holding & Debt Repayment Agency	0.320%	1/31/25	JPY	400,000		3,778
11	Japan Expressway Holding & Debt Repayment Agency	0.320%	1/30/26	JPY	751,000		7,117
11	Japan Expressway Holding & Debt Repayment Agency	0.379%	12/26/25	JPY	1,000,000		9,509
11	Japan Expressway Holding & Debt Repayment Agency	0.397%	10/31/36	JPY	200,000		1,906
11	Japan Expressway Holding & Debt Repayment Agency	0.414%	2/28/25	JPY	409,000		3,883
11	Japan Expressway Holding & Debt Repayment Agency	0.450%	3/31/25	JPY	1,000,000		9,515
11	Japan Expressway Holding & Debt Repayment Agency	0.466%	12/27/24	JPY	2,000,000		19,024
11	Japan Expressway Holding & Debt Repayment Agency	0.495%	11/29/24	JPY	1,520,000		14,471
	Japan Expressway Holding & Debt Repayment Agency	0.500%	9/17/38	JPY	200,000		1,907
	Japan Expressway Holding & Debt Repayment Agency	0.500%	3/18/39	JPY	200,000		1,905
11	Japan Expressway Holding & Debt Repayment Agency	0.509%	5/30/25	JPY	580,000		5,540
11	Japan Expressway Holding & Debt Repayment Agency	0.538%	5/31/38	JPY	400,000		3,895
11	Japan Expressway Holding & Debt Repayment Agency	0.539%	10/31/24	JPY	1,000,000		9,537
11	Japan Expressway Holding & Debt Repayment Agency	0.541%	4/28/23	JPY	800,000		7,562
	Japan Expressway Holding & Debt Repayment Agency	0.542%	5/31/49	JPY	900,000		8,542
11	Japan Expressway Holding & Debt Repayment Agency	0.591%	1/29/38	JPY	2,000,000		19,677
11	Japan Expressway Holding & Debt Repayment Agency	0.601%	7/31/24	JPY	2,000,000		19,103
11	Japan Expressway Holding & Debt Repayment Agency	0.645%	3/29/24	JPY	1,000,000		9,546
11	Japan Expressway Holding & Debt Repayment Agency	0.660%	2/29/24	JPY	2,000,000		19,097
11	Japan Expressway Holding & Debt Repayment Agency	0.660%	5/31/24	JPY	1,000,000		9,567
11	Japan Expressway Holding & Debt Repayment Agency	0.668%	3/17/23	JPY	800,000		7,589
11	Japan Expressway Holding & Debt Repayment Agency	0.669%	11/30/23	JPY	1,000,000		9,534
11	Japan Expressway Holding & Debt Repayment Agency	0.669%	4/30/24	JPY	1,000,000		9,563
11	Japan Expressway Holding & Debt Repayment Agency	0.693%	12/28/23	JPY	500,000		4,774
	Japan Expressway Holding & Debt Repayment Agency	0.765%	9/20/22	JPY	200,000		1,892

74

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
11	Japan Expressway Holding & Debt Repayment Agency	0.791%	10/31/22	JPY	86,700		823
	Japan Expressway Holding & Debt Repayment Agency	0.796%	9/20/22	JPY	300,000		2,840
11	Japan Expressway Holding & Debt Repayment Agency	0.801%	8/31/22	JPY	800,000		7,586
11	Japan Expressway Holding & Debt Repayment Agency	0.805%	11/30/22	JPY	1,568,700		14,911
11	Japan Expressway Holding & Debt Repayment Agency	0.815%	2/28/23	JPY	557,700		5,300
11	Japan Expressway Holding & Debt Repayment Agency	0.819%	9/30/22	JPY	1,500,000		14,242
11	Japan Expressway Holding & Debt Repayment Agency	0.834%	1/31/23	JPY	900,000		8,575
11	Japan Expressway Holding & Debt Repayment Agency	0.839%	7/29/22	JPY	500,000		4,763
11	Japan Expressway Holding & Debt Repayment Agency	0.882%	6/30/23	JPY	817,000		7,801
11	Japan Expressway Holding & Debt Repayment Agency	0.895%	6/30/22	JPY	1,200,000		11,390
11	Japan Expressway Holding & Debt Repayment Agency	0.900%	11/30/20	JPY	100,000		935
11	Japan Expressway Holding & Debt Repayment Agency	0.911%	7/31/23	JPY	1,300,000		12,475
11	Japan Expressway Holding & Debt Repayment Agency	0.934%	1/31/36	JPY	3,600,000		37,373
11	Japan Expressway Holding & Debt Repayment Agency	0.970%	1/31/35	JPY	3,000,000		31,263
11	Japan Expressway Holding & Debt Repayment Agency	1.200%	12/28/20	JPY	300,000		2,818
11	Japan Expressway Holding & Debt Repayment Agency	1.240%	7/31/35	JPY	600,000		6,491
11	Japan Expressway Holding & Debt Repayment Agency	1.338%	10/31/34	JPY	100,000		1,092
11	Japan Expressway Holding & Debt Repayment Agency	1.427%	7/31/34	JPY	700,000		7,708
	Japan Expressway Holding & Debt Repayment Agency	1.861%	3/19/55	JPY	2,400,000		30,743
11	Japan Expressway Holding & Debt Repayment Agency	2.100%	12/28/29	JPY	500,000		5,607
11	Japan Expressway Holding & Debt Repayment Agency	2.300%	2/29/40	JPY	200,000		2,593
	Japan Expressway Holding & Debt Repayment Agency	2.340%	10/20/27	JPY	700,000		7,663
	Japan Expressway Holding & Debt Repayment Agency	2.370%	9/20/28	JPY	50,000		558
	Japan Expressway Holding & Debt Repayment Agency	2.420%	6/20/28	JPY	880,000		9,810
	Japan Expressway Holding & Debt Repayment Agency	2.450%	3/19/26	JPY	180,000		1,923
	Japan Expressway Holding & Debt Repayment Agency	2.700%	3/20/48	JPY	1,550,000		22,675
	Japan Expressway Holding & Debt Repayment Agency	2.870%	12/20/46	JPY	80,000		1,187

75

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Japan Expressway Holding & Debt Repayment Agency	2.960%	3/19/46	JPY	250,000		3,722
11	Japan Expressway Holding and Debt Repayment Agency	0.110%	5/31/27	JPY	11,000		103
11	Japan Expressway Holding and Debt Repayment Agency	0.440%	8/29/25	JPY	64,000		610
11	Japan Expressway Holding and Debt Repayment Agency	0.557%	7/31/25	JPY	14,000		134
11	Japan Finance Organization for Municipalities	0.020%	3/13/26	JPY	100,000		930
11	Japan Finance Organization for Municipalities	0.110%	5/21/27	JPY	1,500,000		14,050
11	Japan Finance Organization for Municipalities	0.140%	4/16/27	JPY	1,250,000		11,734
11	Japan Finance Organization for Municipalities	0.145%	2/16/26	JPY	90,000		844
11	Japan Finance Organization for Municipalities	0.160%	7/16/27	JPY	1,000,000		9,403
	Japan Finance Organization for Municipalities	0.160%	11/15/27	JPY	2,000,000		18,803
	Japan Finance Organization for Municipalities	0.185%	1/21/28	JPY	2,000,000		18,751
11	Japan Finance Organization for Municipalities	0.311%	7/28/23	JPY	1,830,000		17,180
11	Japan Finance Organization for Municipalities	0.320%	1/19/26	JPY	1,000,000		9,479
11	Japan Finance Organization for Municipalities	0.391%	4/25/25	JPY	225,000		2,140
11	Japan Finance Organization for Municipalities	0.484%	6/13/25	JPY	100,000		955
11	Japan Finance Organization for Municipalities	0.576%	9/24/21	JPY	600,000		5,621
	Japan Finance Organization for Municipalities	0.576%	4/28/23	JPY	800,000		7,552
11	Japan Finance Organization for Municipalities	0.644%	6/14/24	JPY	2,000,000		19,125
11	Japan Finance Organization for Municipalities	0.660%	2/16/24	JPY	1,000,000		9,511
11	Japan Finance Organization for Municipalities	0.660%	5/21/24	JPY	3,058,000		29,250
11	Japan Finance Organization for Municipalities	0.668%	3/17/23	JPY	370,000		3,510
11	Japan Finance Organization for Municipalities	0.669%	11/17/23	JPY	1,579,000		15,053
11	Japan Finance Organization for Municipalities	0.669%	4/12/24	JPY	1,550,000		14,819
	Japan Finance Organization for Municipalities	0.678%	3/28/23	JPY	500,000		4,734
	Japan Finance Organization for Municipalities	0.801%	10/28/22	JPY	850,000		8,055
11	Japan Finance Organization for Municipalities	0.801%	9/15/23	JPY	50,000		478
11	Japan Finance Organization for Municipalities	0.815%	2/17/23	JPY	1,500,000		14,253

76

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
11	Japan Finance Organization for Municipalities	0.819%	9/16/22	JPY	1,000,000		9,491
	Japan Finance Organization for Municipalities	0.875%	9/22/21	EUR	5,000		5,696
11	Japan Finance Organization for Municipalities	0.882%	6/16/23	JPY	1,000,000		9,576
11	Japan Finance Organization for Municipalities	0.900%	11/17/20	JPY	100,000		935
11	Japan Finance Organization for Municipalities	0.900%	3/14/22	JPY	600,000		5,680
	Japan Finance Organization for Municipalities	0.922%	7/28/23	JPY	300,000		2,872
11	Japan Finance Organization for Municipalities	0.977%	4/22/22	JPY	2,200,000		20,888
11	Japan Finance Organization for Municipalities	1.000%	9/14/21	JPY	220,600		2,082
	Japan Finance Organization for Municipalities	2.220%	1/28/30	JPY	2,130,000		24,051
	Japan Finance Organization for Municipalities	2.290%	4/27/29	JPY	80,000		899
	Japan Highway Public Corp.	1.540%	12/20/22	JPY	500,000		4,850
	Japan Highway Public Corp.	2.700%	6/20/22	JPY	390,000		3,865
	Major Joint Local Government Bond	0.140%	2/22/29	JPY	1,600,000		14,930
	Major Joint Local Government Bond	0.145%	12/25/26	JPY	3,300,000		30,779
	Major Joint Local Government Bond	0.160%	1/25/29	JPY	1,610,000		15,050
	Major Joint Local Government Bond	0.180%	1/25/27	JPY	3,090,000		28,894
	Major Joint Local Government Bond	0.180%	4/25/28	JPY	5,700,000		53,360
	Major Joint Local Government Bond	0.200%	5/25/28	JPY	890,000		8,346
	Major Joint Local Government Bond	0.210%	3/25/27	JPY	1,900,000		17,809
	Major Joint Local Government Bond	0.215%	10/25/27	JPY	792,400		7,436
	Major Joint Local Government Bond	0.240%	2/25/28	JPY	399,000		3,753
	Major Joint Local Government Bond	0.245%	2/25/27	JPY	1,700,000		15,973
	Major Joint Local Government Bond	0.406%	4/25/25	JPY	3,650,000		34,521
	Major Joint Local Government Bond	0.448%	2/25/25	JPY	2,300,000		21,785
	Major Joint Local Government Bond	0.456%	12/25/24	JPY	2,400,000		22,724
	Major Joint Local Government Bond	0.469%	12/25/25	JPY	5,100,000		48,525
	Major Joint Local Government Bond	0.470%	3/25/25	JPY	4,750,000		45,056
	Major Joint Local Government Bond	0.496%	11/25/25	JPY	1,000,000		9,527
	Major Joint Local Government Bond	0.500%	8/25/25	JPY	1,600,000		15,231
	Major Joint Local Government Bond	0.510%	9/25/25	JPY	2,170,600		20,682
	Major Joint Local Government Bond	0.548%	6/25/25	JPY	2,600,000		24,795
	Major Joint Local Government Bond	0.553%	5/23/25	JPY	5,100,000		48,627
	Major Joint Local Government Bond	0.553%	7/25/25	JPY	1,243,700		11,868
	Major Joint Local Government Bond	0.554%	9/25/24	JPY	1,500,000		14,255
	Major Joint Local Government Bond	0.566%	8/23/24	JPY	500,000		4,751
	Major Joint Local Government Bond	0.611%	7/25/24	JPY	700,000		6,662
	Major Joint Local Government Bond	0.659%	6/25/24	JPY	800,000		7,627
	Major Joint Local Government Bond	0.660%	11/24/23	JPY	1,440,000		13,679
	Major Joint Local Government Bond	0.674%	5/24/24	JPY	400,000		3,814
	Major Joint Local Government Bond	0.680%	3/24/23	JPY	700,000		6,626
	Major Joint Local Government Bond	0.680%	10/25/23	JPY	200,000		1,900
	Major Joint Local Government Bond	0.689%	4/25/24	JPY	250,000		2,384
	Major Joint Local Government Bond	0.710%	12/25/23	JPY	3,700,000		35,235
	Major Joint Local Government Bond	0.720%	12/22/22	JPY	400,000		3,785

77

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Major Joint Local Government Bond	0.760%	1/25/24	JPY	1,500,000		14,323
	Major Joint Local Government Bond	0.800%	11/25/22	JPY	250,000		2,370
	Major Joint Local Government Bond	0.820%	9/22/22	JPY	90,000		853
	Major Joint Local Government Bond	0.820%	8/25/23	JPY	90,000		859
	Major Joint Local Government Bond	0.890%	6/24/22	JPY	800,000		7,577
	Major Joint Local Government Bond	0.910%	7/25/23	JPY	500,000		4,783
	Major Joint Local Government Bond	1.000%	10/25/21	JPY	6,100,000		57,577
	Major Joint Local Government Bond	1.010%	2/25/22	JPY	75,000		710
	Major Joint Local Government Bond	1.030%	9/24/21	JPY	7,890,000		74,445
	Major Joint Local Government Bond	1.030%	11/25/21	JPY	200,000		1,890
	Major Joint Local Government Bond	1.050%	8/25/21	JPY	500,000		4,716
	Major Joint Local Government Bond	1.070%	12/24/21	JPY	400,000		3,787
	Major Joint Local Government Bond	1.180%	5/25/21	JPY	500,000		4,712
	Major Joint Local Government Bond	1.280%	2/25/21	JPY	200,000		1,882
	Metropolitan Expressway Co. Ltd.	0.030%	6/18/21	JPY	500,000		4,629
	Metropolitan Expressway Co. Ltd.	0.030%	9/17/21	JPY	300,000		2,777
	Metropolitan Expressway Co. Ltd.	0.090%	9/20/22	JPY	600,000		5,566
	Osaka Prefecture	1.453%	9/26/34	JPY	270,000		2,952
	Shoko Chukin Bank Ltd.	0.220%	11/27/20	JPY	1,100,000		10,202
	Tokyo Metropolitan Government	0.075%	9/18/26	JPY	177,400		1,647
	Tokyo Metropolitan Government	0.210%	3/19/27	JPY	2,000,000		18,762
	Tokyo Metropolitan Government	0.386%	3/19/25	JPY	1,000,000		9,450
	Tokyo Metropolitan Government	0.426%	12/20/24	JPY	140,000		1,325
	Tokyo Metropolitan Government	0.435%	3/19/25	JPY	2,478,000		23,476
	Tokyo Metropolitan Government	0.444%	12/19/25	JPY	600,000		5,703
	Tokyo Metropolitan Government	0.456%	9/19/25	JPY	500,000		4,752
	Tokyo Metropolitan Government	0.475%	9/19/25	JPY	1,100,000		10,465
	Tokyo Metropolitan Government	0.499%	6/20/25	JPY	750,000		7,137
	Tokyo Metropolitan Government	0.505%	9/20/24	JPY	700,000		6,640
	Tokyo Metropolitan Government	0.533%	6/20/25	JPY	500,000		4,767
	Tokyo Metropolitan Government	0.635%	3/19/24	JPY	700,000		6,659
	Tokyo Metropolitan Government	0.690%	3/19/24	JPY	190,000		1,812
	Tokyo Metropolitan Government	0.700%	9/20/23	JPY	450,000		4,278
	Tokyo Metropolitan Government	0.720%	12/20/23	JPY	30,000		286
	Tokyo Metropolitan Government	0.730%	12/20/23	JPY	2,000,000		19,067
	Tokyo Metropolitan Government	0.760%	12/20/22	JPY	185,000		1,753
	Tokyo Metropolitan Government	0.770%	9/20/22	JPY	300,000		2,838
	Tokyo Metropolitan Government	0.860%	3/20/23	JPY	800,000		7,619
	Tokyo Metropolitan Government	0.990%	9/17/21	JPY	200,000		1,886
	Tokyo Metropolitan Government	0.990%	12/20/21	JPY	103,500		978
	Tokyo Metropolitan Government	1.020%	9/17/21	JPY	500,000		4,716
	Tokyo Metropolitan Government	1.293%	6/20/35	JPY	100,000		1,080
	Tokyo Metropolitan Government	1.980%	6/20/31	JPY	100,000		1,123
	West Nippon Expressway Co. Ltd.	0.090%	9/20/22	JPY	500,000		4,638
	West Nippon Expressway Co. Ltd.	0.170%	5/22/26	JPY	220,000		2,052
							27,081,898
Total Japan (Cost $25,676,154)							27,547,483
Jersey, C.I. (0.0%)
Sovereign Bond (0.0%)
	Bailiwick of Jersey	3.750%	6/9/54	GBP	1,510		2,849
Total Jersey, C.I. (Cost $2,583)							2,849

78

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Kazakhstan (0.0%)
Sovereign Bonds (0.0%)
2	Republic of Kazakhstan	0.600%	9/30/26	EUR	6,300		6,985
2	Republic of Kazakhstan	1.500%	9/30/34	EUR	4,800		5,325
	Republic of Kazakhstan	1.550%	11/9/23	EUR	2,000		2,338
2	Republic of Kazakhstan	1.550%	11/9/23	EUR	3,150		3,682
	Republic of Kazakhstan	2.375%	11/9/28	EUR	10,000		12,540
Total Kazakhstan (Cost $29,666)							30,870
Latvia (0.0%)
Sovereign Bonds (0.0%)
	Republic of Latvia	2.625%	1/21/21	EUR	1,000		1,152
2	Republic of Latvia	2.625%	1/21/21	EUR	1,000		1,152
	Republic of Latvia	2.875%	4/30/24	EUR	1,000		1,271
Total Latvia (Cost $3,697)							3,575
Lithuania (0.0%)
Sovereign Bond (0.0%)
	Republic of Lithuania	2.125%	10/29/26	EUR	13,800		17,671
Total Lithuania (Cost $16,795)							17,671
Luxembourg (0.1%)
Corporate Bonds (0.1%)
	ArcelorMittal	0.950%	1/17/23	EUR	3,600		4,039
	ArcelorMittal	2.250%	1/17/24	EUR	13,400		15,638
	ArcelorMittal	3.125%	1/14/22	EUR	11,000		13,039
	Blackstone Property Partners Europe Holdings Sarl	1.400%	7/6/22	EUR	3,100		3,538
	Blackstone Property Partners Europe Holdings Sarl	2.000%	2/15/24	EUR	9,300		10,900
	Blackstone Property Partners Europe Holdings Sarl	2.200%	7/24/25	EUR	16,550		19,617
	Dream Global Funding I Sarl	1.375%	12/21/21	EUR	8,000		9,081
	Logicor Financing Sarl	1.500%	11/14/22	EUR	7,000		8,061
	Logicor Financing Sarl	2.250%	5/13/25	EUR	3,000		3,598
	Logicor Financing Sarl	3.250%	11/13/28	EUR	13,800		17,426
	NORD/LB Luxembourg SA Covered Bond Bank	0.375%	6/15/23	EUR	10,000		11,352
	Prologis International Funding II SA	0.875%	7/9/29	EUR	6,000		6,718
	SELP Finance Sarl	1.250%	10/25/23	EUR	4,100		4,719
							127,726
Sovereign Bonds (0.0%)
	Grand Duchy of Luxembourg	2.250%	3/21/22	EUR	4,000		4,774
	Grand Duchy of Luxembourg	2.250%	3/19/28	EUR	3,000		4,054
	Grand Duchy of Luxembourg	3.375%	5/18/20	EUR	4,000		4,554
							13,382
Total Luxembourg (Cost $140,462)							141,108
Malaysia (0.6%)
Sovereign Bonds (0.6%)
	Federation of Malaysia	3.418%	8/15/22	MYR	15,000		3,611
	Federation of Malaysia	3.478%	6/14/24	MYR	120,000		28,876
	Federation of Malaysia	3.480%	3/15/23	MYR	110,500		26,634

79

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Federation of Malaysia	3.492%	3/31/20	MYR	31,000		7,430
	Federation of Malaysia	3.733%	6/15/28	MYR	256,400		62,410
	Federation of Malaysia	3.795%	9/30/22	MYR	160,000		38,913
	Federation of Malaysia	3.800%	8/17/23	MYR	165,000		40,167
	Federation of Malaysia	3.828%	7/5/34	MYR	69,600		16,716
	Federation of Malaysia	3.844%	4/15/33	MYR	293,550		71,223
	Federation of Malaysia	3.882%	3/14/25	MYR	85,000		20,807
	Federation of Malaysia	3.885%	8/15/29	MYR	130,000		32,194
	Federation of Malaysia	3.892%	3/15/27	MYR	500		123
	Federation of Malaysia	3.899%	11/16/27	MYR	97,000		23,845
	Federation of Malaysia	3.900%	11/30/26	MYR	131,500		32,325
	Federation of Malaysia	3.906%	7/15/26	MYR	90,000		22,154
	Federation of Malaysia	3.955%	9/15/25	MYR	427,000		105,260
	Federation of Malaysia	4.048%	9/30/21	MYR	30,500		7,421
	Federation of Malaysia	4.059%	9/30/24	MYR	54,000		13,309
	Federation of Malaysia	4.127%	4/15/32	MYR	25,000		6,246
	Federation of Malaysia	4.160%	7/15/21	MYR	300,000		73,001
	Federation of Malaysia	4.181%	7/15/24	MYR	142,000		35,179
	Federation of Malaysia	4.232%	6/30/31	MYR	20,700		5,221
	Federation of Malaysia	4.254%	5/31/35	MYR	107,000		27,042
	Federation of Malaysia	4.392%	4/15/26	MYR	70,000		17,700
	Federation of Malaysia	4.498%	4/15/30	MYR	140,500		36,160
	Federation of Malaysia	4.642%	11/7/33	MYR	53,700		14,021
	Federation of Malaysia	4.736%	3/15/46	MYR	35,000		9,287
	Federation of Malaysia	4.762%	4/7/37	MYR	46,600		12,370
	Federation of Malaysia	4.893%	6/8/38	MYR	197,500		53,387
	Federation of Malaysia	4.921%	7/6/48	MYR	84,000		22,634
	Federation of Malaysia	4.935%	9/30/43	MYR	9,298		2,547
Total Malaysia (Cost $869,631)							868,213
Mexico (0.8%)
Corporate Bonds (0.0%)
	America Movil SAB de CV	0.750%	6/26/27	EUR	4,300		4,875
	America Movil SAB de CV	1.500%	3/10/24	EUR	600		705
	America Movil SAB de CV	2.125%	3/10/28	EUR	5,100		6,388
	America Movil SAB de CV	3.000%	7/12/21	EUR	2,700		3,164
	America Movil SAB de CV	4.375%	8/7/41	GBP	7,300		12,435
	America Movil SAB de CV	4.750%	6/28/22	EUR	5,005		6,275
	America Movil SAB de CV	5.000%	10/27/26	GBP	2,300		3,634
	America Movil SAB de CV	5.750%	6/28/30	GBP	3,900		6,893
1	America Movil SAB de CV	6.375%	9/6/73	EUR	8,400		11,256
	Fomento Economico Mexicano SAB de CV	1.750%	3/20/23	EUR	1,692		1,984
							57,609
Sovereign Bonds (0.8%)
	Petroleos Mexicanos	1.875%	4/21/22	EUR	700		790
	Petroleos Mexicanos	2.500%	8/21/21	EUR	200		229
	Petroleos Mexicanos	2.750%	4/21/27	EUR	21,000		21,742
	Petroleos Mexicanos	3.125%	11/27/20	EUR	1,000		1,146
	Petroleos Mexicanos	3.625%	11/24/25	EUR	300		337
	Petroleos Mexicanos	3.750%	2/21/24	EUR	1,000		1,174
	Petroleos Mexicanos	3.750%	4/16/26	EUR	825		926
	Petroleos Mexicanos	4.750%	2/26/29	EUR	9,800		11,322
	Petroleos Mexicanos	4.875%	2/21/28	EUR	100		117
	Petroleos Mexicanos	5.500%	2/24/25	EUR	12,000		15,061

80

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Petroleos Mexicanos	8.250%	6/2/22	GBP	2,750		3,999
	United Mexican States	1.375%	1/15/25	EUR	19,540		22,725
	United Mexican States	1.625%	3/6/24	EUR	3,000		3,525
	United Mexican States	1.625%	4/8/26	EUR	4,105		4,779
	United Mexican States	1.750%	4/17/28	EUR	16,500		19,385
	United Mexican States	2.375%	4/9/21	EUR	4,667		5,377
	United Mexican States	2.750%	4/22/23	EUR	7,000		8,460
	United Mexican States	2.875%	4/8/39	EUR	4,725		5,941
	United Mexican States	3.000%	3/6/45	EUR	7,500		9,432
	United Mexican States	3.375%	2/23/31	EUR	18,000		24,147
	United Mexican States	3.625%	4/9/29	EUR	9,200		12,491
	United Mexican States	4.000%	3/15/15	EUR	3,400		4,243
	United Mexican States	5.625%	3/19/14	GBP	6,006		8,635
	United Mexican States	5.750%	3/5/26	MXN	850,000		42,041
	United Mexican States	6.500%	6/10/21	MXN	2,387,500		123,836
	United Mexican States	6.500%	6/9/22	MXN	2,460,000		127,698
	United Mexican States	7.500%	6/3/27	MXN	1,525,000		82,751
	United Mexican States	7.750%	5/29/31	MXN	1,015,000		56,429
	United Mexican States	7.750%	11/23/34	MXN	510,000		28,373
	United Mexican States	7.750%	11/13/42	MXN	1,138,000		63,001
	United Mexican States	8.000%	12/7/23	MXN	1,212,600		66,150
	United Mexican States	8.000%	9/5/24	MXN	970,000		53,253
	United Mexican States	8.000%	11/7/47	MXN	535,000		30,629
	United Mexican States	8.500%	5/31/29	MXN	1,060,000		61,567
	United Mexican States	8.500%	11/18/38	MXN	945,000		56,352
	United Mexican States	10.000%	12/5/24	MXN	1,233,500		73,437
	United Mexican States	10.000%	11/20/36	MXN	350,000		23,559
							1,075,059
Total Mexico (Cost $1,179,956)							1,132,668
Morocco (0.0%)
Sovereign Bond (0.0%)
	Kingdom of Morocco	3.500%	6/19/24	EUR	2,000		2,534
Total Morocco (Cost $2,666)							2,534
Netherlands (2.8%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.2%)
	ABN AMRO Bank NV	1.000%	4/13/31	EUR	8,000		9,826
	ABN AMRO Bank NV	1.125%	1/12/32	EUR	3,100		3,862
	ABN AMRO Bank NV	1.500%	9/30/30	EUR	24,700		31,823
	ABN AMRO Bank NV	2.375%	1/23/24	EUR	16,400		20,403
	ABN AMRO Bank NV	2.500%	9/5/23	EUR	7,000		8,664
	ABN AMRO Bank NV	3.500%	1/18/22	EUR	15,000		18,170
	ABN AMRO Bank NV	3.500%	9/21/22	EUR	1,100		1,365
	ABN AMRO Bank NV	4.250%	4/6/21	EUR	5,000		5,945
	Aegon Bank NV	0.250%	5/25/23	EUR	18,500		21,007
	Aegon Bank NV	0.750%	6/27/27	EUR	2,500		2,939
	Cooperatieve Rabobank UA	1.500%	4/26/38	EUR	4,000		5,344
	ING Bank NV	1.875%	5/22/23	EUR	17,400		20,947
	ING Bank NV	3.375%	1/10/22	EUR	11,100		13,403
	ING Bank NV	3.625%	8/31/21	EUR	8,500		10,176
	NIBC Bank NV	0.250%	4/22/22	EUR	31,235		35,302
1	NIBC Bank NV	0.625%	6/1/58	EUR	11,600		13,517
							222,693

81

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Corporate Bonds (0.8%)
	ABN AMRO Bank NV	0.500%	7/17/23	EUR	3,000		3,401
	ABN AMRO Bank NV	0.625%	5/31/22	EUR	600		681
	ABN AMRO Bank NV	0.875%	1/15/24	EUR	6,000		6,905
	ABN AMRO Bank NV	0.875%	1/14/26	EUR	1,000		1,193
	ABN AMRO Bank NV	1.125%	4/23/39	EUR	5,000		6,318
	ABN AMRO Bank NV	1.375%	6/7/22	GBP	3,200		4,168
	ABN AMRO Bank NV	1.375%	1/10/34	EUR	9,300		11,984
	ABN AMRO Bank NV	1.375%	1/12/37	EUR	21,900		28,609
	ABN AMRO Bank NV	1.450%	4/12/38	EUR	3,500		4,650
	ABN AMRO Bank NV	2.500%	11/29/23	EUR	4,100		5,023
	ABN AMRO Bank NV	4.125%	3/28/22	EUR	5,800		7,116
	ABN AMRO Bank NV	6.375%	4/27/21	EUR	4,600		5,597
	ABN AMRO Bank NV	7.125%	7/6/22	EUR	6,500		8,555
	Achmea BV	2.500%	11/19/20	EUR	2,500		2,866
1	Achmea BV	6.000%	4/4/43	EUR	2,100		2,702
	Aegon Bank NV	0.375%	11/21/24	EUR	10,000		11,455
	Aegon NV	1.000%	12/8/23	EUR	1,100		1,275
1	Aegon NV	4.000%	4/25/44	EUR	2,000		2,467
	Aegon NV	6.625%	12/16/39	GBP	1,000		2,143
	Akzo Nobel NV	1.125%	4/8/26	EUR	4,100		4,844
	Akzo Nobel NV	1.750%	11/7/24	EUR	3,600		4,351
	Argentum Netherlands BV for Givaudan SA	2.000%	9/17/30	EUR	900		1,148
1	Argentum Netherlands BV for Swiss Life AG	4.375%	12/29/49	EUR	4,000		5,099
	ASML Holding NV	1.375%	7/7/26	EUR	10,800		12,937
	ASML Holding NV	1.625%	5/28/27	EUR	1,400		1,720
	ASML Holding NV	3.375%	9/19/23	EUR	1,000		1,262
1	ASR Nederland NV	3.375%	5/2/49	EUR	6,149		7,496
	Cooperatieve Rabobank UA	0.000%	6/21/27	EUR	10,000		11,249
	Cooperatieve Rabobank UA	0.125%	10/11/21	EUR	400		449
	Cooperatieve Rabobank UA	0.500%	12/6/22	EUR	12,215		13,891
	Cooperatieve Rabobank UA	0.625%	2/27/24	EUR	10,000		11,408
	Cooperatieve Rabobank UA	0.750%	8/29/23	EUR	17,300		19,797
	Cooperatieve Rabobank UA	0.750%	6/21/39	EUR	5,000		5,908
	Cooperatieve Rabobank UA	0.875%	2/8/28	EUR	1,100		1,322
	Cooperatieve Rabobank UA	0.875%	2/1/29	EUR	10,000		12,063
	Cooperatieve Rabobank UA	1.125%	4/8/21	CHF	18,100		18,783
	Cooperatieve Rabobank UA	1.250%	3/23/26	EUR	5,800		6,950
	Cooperatieve Rabobank UA	1.250%	5/31/32	EUR	7,500		9,472
	Cooperatieve Rabobank UA	1.375%	2/3/27	EUR	4,400		5,344
	Cooperatieve Rabobank UA	2.000%	9/16/21	CHF	8,900		9,447
	Cooperatieve Rabobank UA	2.250%	3/23/22	GBP	500		667
	Cooperatieve Rabobank UA	2.375%	5/22/23	EUR	5,750		6,961
1	Cooperatieve Rabobank UA	2.500%	5/26/26	EUR	12,100		13,965
	Cooperatieve Rabobank UA	3.125%	9/15/26	CHF	4,000		4,987
	Cooperatieve Rabobank UA	3.750%	11/9/20	EUR	14,150		16,372
	Cooperatieve Rabobank UA	3.875%	7/25/23	EUR	3,350		4,235
	Cooperatieve Rabobank UA	4.000%	1/11/22	EUR	25,800		31,388
	Cooperatieve Rabobank UA	4.000%	9/19/22	GBP	3,187		4,473
	Cooperatieve Rabobank UA	4.125%	1/12/21	EUR	6,400		7,504
	Cooperatieve Rabobank UA	4.125%	9/14/22	EUR	8,000		9,936
	Cooperatieve Rabobank UA	4.125%	7/14/25	EUR	20,000		27,499
	Cooperatieve Rabobank UA	4.250%	5/12/26	AUD	800		621
	Cooperatieve Rabobank UA	4.375%	6/7/21	EUR	100		120

82

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Cooperatieve Rabobank UA	4.550%	8/30/29	GBP	6,108		10,220
	Cooperatieve Rabobank UA	4.625%	1/13/21	GBP	1,000		1,349
	Cooperatieve Rabobank UA	4.625%	5/23/29	GBP	9,500		14,659
	Cooperatieve Rabobank UA	4.750%	6/6/22	EUR	5,600		7,039
	Cooperatieve Rabobank UA	5.250%	9/14/27	GBP	12,612		19,807
	Cooperatieve Rabobank UA	5.250%	5/23/41	GBP	800		1,672
1	Delta Lloyd Levensverzekering NV	9.000%	8/29/42	EUR	18,634		25,820
1	ELM BV for Helvetia Schweizerische Versicherungsgesellschaft AG	3.375%	9/29/47	EUR	6,000		7,464
1	ELM BV for Swiss Reinsurance Co. Ltd.	2.600%	12/29/49	EUR	19,150		23,028
	EXOR NV	1.750%	1/18/28	EUR	5,300		6,221
	EXOR NV	2.500%	10/8/24	EUR	10,000		12,239
	Heineken NV	1.375%	1/29/27	EUR	10,100		12,153
	Heineken NV	1.500%	12/7/24	EUR	5,100		6,086
	Heineken NV	1.500%	10/3/29	EUR	500		614
	Heineken NV	2.000%	4/6/21	EUR	1,000		1,150
	Heineken NV	2.875%	8/4/25	EUR	5,900		7,633
	ING Bank NV	0.375%	11/26/21	EUR	8,000		9,019
	ING Bank NV	0.750%	11/24/20	EUR	2,600		2,929
	ING Bank NV	0.750%	2/22/21	EUR	11,400		12,872
	ING Bank NV	0.750%	2/18/29	EUR	10,000		11,918
	ING Bank NV	0.875%	4/11/28	EUR	15,600		18,751
1	ING Bank NV	3.625%	2/25/26	EUR	9,200		10,721
	ING Bank NV	4.500%	2/21/22	EUR	13,200		16,290
	ING Bank NV	4.875%	1/18/21	EUR	1,300		1,539
	ING Bank NV	5.375%	4/15/21	GBP	3,000		4,123
	ING Groep NV	0.750%	3/9/22	EUR	36,300		41,171
	ING Groep NV	1.000%	9/20/23	EUR	6,100		7,025
	ING Groep NV	1.125%	2/14/25	EUR	14,400		16,748
	ING Groep NV	1.375%	1/11/28	EUR	300		360
1	ING Groep NV	1.625%	9/26/29	EUR	26,700		30,854
	ING Groep NV	2.000%	9/20/28	EUR	16,700		20,946
	ING Groep NV	2.125%	1/10/26	EUR	15,000		18,531
1	ING Groep NV	2.500%	2/15/29	EUR	10,000		11,985
	ING Groep NV	3.000%	2/18/26	GBP	11,000		15,238
	JAB Holdings BV	1.750%	5/25/23	EUR	4,500		5,311
	Koninklijke Ahold Delhaize NV	1.125%	3/19/26	EUR	100		117
	Koninklijke DSM NV	0.750%	9/28/26	EUR	100		115
	Koninklijke DSM NV	1.000%	4/9/25	EUR	3,200		3,731
	Koninklijke DSM NV	2.375%	4/3/24	EUR	1,700		2,078
	Koninklijke KPN NV	0.625%	4/9/25	EUR	10,000		11,322
	Koninklijke KPN NV	3.250%	2/1/21	EUR	5,630		6,541
	Koninklijke KPN NV	4.250%	3/1/22	EUR	100		123
	Koninklijke KPN NV	5.000%	11/18/26	GBP	3,660		5,512
	Koninklijke KPN NV	5.750%	9/17/29	GBP	3,115		4,889
	Koninklijke Philips NV	0.500%	5/22/26	EUR	100		114
	Koninklijke Philips NV	1.375%	5/2/28	EUR	7,700		9,309
	LeasePlan Corp. NV	0.750%	10/3/22	EUR	1,575		1,782
	Nationale-Nederlanden Bank NV	0.500%	10/10/24	EUR	800		920
	Nationale-Nederlanden Bank NV	0.625%	9/11/25	EUR	7,700		8,926
	NIBC Bank NV	0.500%	3/19/27	EUR	15,300		17,639
	NIBC Bank NV	0.875%	7/8/25	EUR	10,000		11,261
	NIBC Bank NV	1.000%	9/11/28	EUR	5,000		5,989
	NIBC Bank NV	1.125%	4/19/23	EUR	17,300		19,841

83

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	NIBC Bank NV	1.500%	1/31/22	EUR	17,954		20,638
	NN Group NV	0.875%	1/13/23	EUR	500		572
	NN Group NV	1.000%	3/18/22	EUR	10,000		11,432
	NN Group NV	1.625%	6/1/27	EUR	330		401
1	NN Group NV	4.375%	12/31/49	EUR	2,000		2,454
1	NN Group NV	4.500%	7/15/49	EUR	5,500		6,865
1	NN Group NV	4.625%	4/8/44	EUR	9,100		11,478
1	NN Group NV	4.625%	1/13/48	EUR	7,400		9,645
	PostNL NV	1.000%	11/21/24	EUR	1,900		2,183
	Robert Bosch Investment Nederland BV	1.625%	5/24/21	EUR	800		917
	Robert Bosch Investment Nederland BV	2.625%	5/24/28	EUR	1,000		1,335
	Shell International Finance BV	0.375%	2/15/25	EUR	23,600		26,935
	Shell International Finance BV	0.750%	8/15/28	EUR	5,000		5,819
	Shell International Finance BV	1.000%	4/6/22	EUR	200		230
	Shell International Finance BV	1.250%	3/15/22	EUR	400		462
	Shell International Finance BV	1.250%	5/12/28	EUR	600		728
	Shell International Finance BV	1.625%	3/24/21	EUR	10,000		11,443
	Shell International Finance BV	1.625%	1/20/27	EUR	24,431		30,261
	Unilever NV	0.375%	2/14/23	EUR	1,100		1,250
	Unilever NV	1.125%	2/12/ 27	EUR	10,100		12,139
	Unilever NV	1.375%	7/31/29	EUR	5,300		6,555
	Unilever NV	1.375%	9/4/30	EUR	1,300		1,604
	Unilever plc	1.500%	7/22/26	GBP	200		263
	Vesteda Finance BV	1.500%	5/24/27	EUR	4,000		4,718
	Wolters Kluwer NV	2.875%	3/21/23	EUR	5,000		6,118
							1,110,915
Sovereign Bonds (1.8%)
	Alliander NV	2.875%	6/14/24	EUR	500		632
	BNG Bank NV	0.050%	7/13/24	EUR	25,000		28,405
	BNG Bank NV	0.125%	4/11/26	EUR	5,000		5,705
	BNG Bank NV	0.200%	11/9/24	EUR	20,000		22,889
	BNG Bank NV	0.250%	6/7/24	EUR	6,000		6,881
	BNG Bank NV	0.250%	5/7/25	EUR	17,000		19,502
	BNG Bank NV	0.375%	1/14/22	EUR	5,000		5,677
	BNG Bank NV	0.500%	8/26/22	EUR	37,000		42,378
	BNG Bank NV	0.500%	4/16/25	EUR	10,500		12,201
	BNG Bank NV	0.625%	6/19/27	EUR	22,800		26,912
	BNG Bank NV	0.750%	1/24/29	EUR	5,000		5,988
	BNG Bank NV	0.875%	10/17/35	EUR	5,000		6,056
	BNG Bank NV	1.000%	1/12/26	EUR	5,000		6,001
	BNG Bank NV	1.125%	5/24/21	GBP	1,900		2,470
	BNG Bank NV	1.125%	9/4/24	EUR	1,400		1,672
	BNG Bank NV	1.375%	10/21/30	EUR	6,000		7,622
	BNG Bank NV	1.500%	3/29/38	EUR	3,000		3,991
	BNG Bank NV	1.500%	7/15/39	EUR	4,000		5,327
	BNG Bank NV	1.625%	8/26/25	GBP	500		673
	BNG Bank NV	1.875%	1/14/21	EUR	12,000		13,759
	BNG Bank NV	2.250%	8/30/22	EUR	5,000		6,001
	BNG Bank NV	3.250%	7/15/25	AUD	15,000		11,352
	BNG Bank NV	3.250%	8/24/26	AUD	500		382
	BNG Bank NV	3.300%	7/17/28	AUD	16,500		12,840
	BNG Bank NV	3.500%	7/19/27	AUD	1,700		1,331
	BNG Bank NV	3.875%	5/26/23	EUR	28,000		36,033
	BNG Bank NV	4.750%	3/6/23	AUD	18,000		13,811

84

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	BNG Bank NV	5.200%	12/7/28	GBP	3,200		5,636
	BNG Bank NV	5.250%	5/20/24	AUD	7,000		5,643
1	Eneco Holding NV	3.250%	12/29/49	EUR	3,600		4,237
	Enexis Holding NV	1.875%	11/13/20	EUR	1,500		1,709
2	Kingdom of Netherlands	0.000%	1/15/22	EUR	115,550		130,715
2	Kingdom of Netherlands	0.000%	1/15/24	EUR	151,500		173,183
2	Kingdom of Netherlands	0.250%	7/15/25	EUR	111,220		129,474
2	Kingdom of Netherlands	0.250%	7/15/29	EUR	58,500		68,569
2	Kingdom of Netherlands	0.500%	7/15/26	EUR	74,650		88,663
2	Kingdom of Netherlands	0.500%	1/15/40	EUR	108,751		131,261
2	Kingdom of Netherlands	0.750%	7/15/27	EUR	71,550		86,833
2	Kingdom of Netherlands	0.750%	7/15/28	EUR	100,582		122,941
2	Kingdom of Netherlands	1.750%	7/15/23	EUR	147,650		179,434
2	Kingdom of Netherlands	2.000%	7/15/24	EUR	72,500		90,760
2	Kingdom of Netherlands	2.250%	7/15/22	EUR	57,850		69,676
2	Kingdom of Netherlands	2.500%	1/15/33	EUR	65,500		98,647
2	Kingdom of Netherlands	2.750%	1/15/47	EUR	69,707		132,223
2	Kingdom of Netherlands	3.250%	7/15/21	EUR	64,470		76,691
	Kingdom of Netherlands	3.750%	1/15/23	EUR	10,280		13,109
2	Kingdom of Netherlands	3.750%	1/15/42	EUR	88,870		179,928
2	Kingdom of Netherlands	4.000%	1/15/37	EUR	76,410		144,308
	Kingdom of Netherlands	5.500%	1/15/28	EUR	45,780		76,035
	Nederlandse Financierings Maatschappij voor Ontwikkelingslanden NV	0.125%	11/4/20	EUR	518		581
	Nederlandse Financierings Maatschappij voor Ontwikkelingslanden NV	0.125%	4/20/22	EUR	6,347		7,189
	Nederlandse Gasunie NV	1.000%	5/11/26	EUR	6,714		7,943
	Nederlandse Gasunie NV	2.625%	7/13/22	EUR	1,500		1,797
	Nederlandse Gasunie NV	3.625%	10/13/21	EUR	3,500		4,189
	Nederlandse Waterschapsbank NV	0.125%	1/17/24	EUR	5,000		5,700
	Nederlandse Waterschapsbank NV	0.500%	10/27/22	EUR	11,600		13,299
	Nederlandse Waterschapsbank NV	0.500%	4/29/30	EUR	5,500		6,410
	Nederlandse Waterschapsbank NV	0.750%	10/4/41	EUR	42,300		49,630
	Nederlandse Waterschapsbank NV	0.875%	12/20/21	GBP	2,000		2,590
	Nederlandse Waterschapsbank NV	1.000%	3/1/28	EUR	6,000		7,313
	Nederlandse Waterschapsbank NV	1.250%	5/27/36	EUR	18,200		23,168
	Nederlandse Waterschapsbank NV	1.500%	6/15/39	EUR	5,000		6,650
	Nederlandse Waterschapsbank NV	2.375%	1/27/23	CHF	3,000		3,332
	Nederlandse Waterschapsbank NV	3.000%	3/28/22	EUR	2,000		2,415
	Nederlandse Waterschapsbank NV	3.000%	9/11/31	EUR	6,000		8,920
	Nederlandse Waterschapsbank NV	3.150%	9/2/26	AUD	8,980		6,793
	Nederlandse Waterschapsbank NV	3.250%	3/9/27	EUR	10,000		13,980
	Nederlandse Waterschapsbank NV	3.400%	7/22/25	AUD	3,500		2,664
	Nederlandse Waterschapsbank NV	3.450%	7/17/28	AUD	3,700		2,900
	Nederlandse Waterschapsbank NV	3.500%	1/14/21	EUR	5,000		5,842
	Nederlandse Waterschapsbank NV	5.200%	3/31/25	CAD	1,400		1,232
	Nederlandse Waterschapsbank NV	5.250%	4/18/24	AUD	3,460		2,784
	Nederlandse Waterschapsbank NV	5.375%	6/7/32	GBP	10,000		19,204
	Stedin Holding NV	0.875%	10/24/25	EUR	14,200		16,450
	TenneT Holding BV	1.000%	6/13/26	EUR	200		235
	TenneT Holding BV	1.250%	10/24/33	EUR	100		120
	TenneT Holding BV	1.375%	6/26/29	EUR	30,523		37,260
	TenneT Holding BV	1.500%	6/3/39	EUR	11,130		13,607

85

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	TenneT Holding BV	2.125%	11/1/20	EUR	3,900		4,446
	TenneT Holding BV	4.500%	2/9/22	EUR	1,500		1,849
							2,596,658
Total Netherlands (Cost $3,794,488)							3,930,266
New Zealand (0.2%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.0%)
	ANZ New Zealand International Ltd.	0.625%	1/27/22	EUR	5,000		5,690
	ASB Finance Ltd.	0.625%	10/18/24	EUR	3,625		4,189
	ASB Finance Ltd.	0.750%	10/9/25	EUR	5,000		5,830
	BNZ International Funding Ltd.	0.625%	7/3/25	EUR	15,000		17,374
							33,083
Corporate Bonds (0.0%)
	ANZ New Zealand International Ltd.	0.625%	6/1/21	EUR	1,200		1,354
	ASB Finance Ltd.	0.500%	6/10/22	EUR	20,886		23,652
	BNZ International Funding Ltd.	0.125%	6/17/21	EUR	1,000		1,123
	BNZ International Funding Ltd.	0.500%	5/13/23	EUR	5,100		5,783
	Fonterra Co-operative Group Ltd.	0.750%	11/8/24	EUR	1,520		1,731
	Fonterra Co-operative Group Ltd.	4.000%	11/2/27	AUD	300		233
	Fonterra Co-operative Group Ltd.	4.500%	6/30/21	AUD	2,200		1,592
	Fonterra Co-operative Group Ltd.	9.375%	12/4/23	GBP	1,200		2,052
							37,520
Sovereign Bonds (0.2%)
	Auckland Council	0.625%	11/13/24	EUR	10,000		11,579
	Auckland Council	3.500%	3/9/26	AUD	500		382
	Housing New Zealand Ltd.	2.247%	10/5/26	NZD	1,550		1,038
	New Zealand	1.500%	5/15/31	NZD	20,000		12,908
	New Zealand	2.750%	4/15/25	NZD	60,000		42,021
	New Zealand	2.750%	4/15/37	NZD	37,635		28,094
	New Zealand	3.000%	4/15/20	NZD	42,300		27,382
	New Zealand	3.000%	4/20/29	NZD	70,000		51,697
	New Zealand	3.500%	4/14/33	NZD	25,000		19,928
	New Zealand	4.500%	4/15/27	NZD	46,000		36,506
	New Zealand	5.500%	4/15/23	NZD	25,000		18,531
	New Zealand	6.000%	5/15/21	NZD	27,500		19,001
	New Zealand Local Government Funding Agency Ltd.	4.500%	4/15/27	NZD	2,000		1,532
	New Zealand Local Government Funding Agency Ltd.	5.500%	4/15/23	NZD	5,000		3,657
	New Zealand Local Government Funding Agency Ltd.	6.000%	5/15/21	NZD	4,000		2,751
	Transpower New Zealand Ltd.	5.750%	8/28/23	AUD	320		256
							277,263
Total New Zealand (Cost $349,403)							347,866
Norway (0.6%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.2%)
	DNB Boligkreditt AS	0.250%	4/18/23	EUR	2,000		2,272
	DNB Boligkreditt AS	0.250%	9/7/26	EUR	20,100		22,965
	DNB Boligkreditt AS	0.375%	1/14/21	EUR	7,000		7,877
	DNB Boligkreditt AS	0.375%	11/20/24	EUR	20,000		22,985
	DNB Boligkreditt AS	0.625%	6/19/25	EUR	100		117
	DNB Boligkreditt AS	1.875%	11/21/22	EUR	13,000		15,474

86

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	DNB Boligkreditt AS	2.750%	3/21/22	EUR	17,500		20,960
	DNB Boligkreditt AS	3.875%	6/16/21	EUR	19,400		23,120
	DNB Boligkreditt AS	5.000%	5/25/21	NOK	20,500		2,331
	Eika Boligkreditt AS	0.375%	4/20/23	EUR	100		114
	Eika Boligkreditt AS	0.375%	2/26/25	EUR	1,600		1,837
	Eika Boligkreditt AS	1.500%	3/12/21	EUR	10,000		11,436
	Eika Boligkreditt AS	2.125%	1/30/23	EUR	12,000		14,447
	SpareBank 1 Boligkreditt AS	0.050%	1/25/22	EUR	15,000		16,874
	SpareBank 1 Boligkreditt AS	0.750%	9/5/22	EUR	10,000		11,492
	SpareBank 1 Boligkreditt AS	3.375%	9/7/21	EUR	10,000		11,918
	Sparebanken Vest Boligkreditt AS	0.500%	2/12/26	EUR	19,900		23,067
	Sparebanken Vest Boligkreditt AS	0.750%	2/27/25	EUR	10,000		11,704
	SR-Boligkreditt AS	0.125%	9/8/21	EUR	2,500		2,812
	SR-Boligkreditt AS	0.750%	1/18/23	EUR	10,000		11,526
							235,328
Corporate Bonds (0.1%)
	DNB Bank ASA	0.600%	9/25/23	EUR	6,000		6,857
1	DNB Bank ASA	1.125%	3/20/28	EUR	9,300		10,613
	DNB Bank ASA	4.250%	1/18/22	EUR	300		367
	DNB Bank ASA	4.375%	2/24/21	EUR	3,000		3,548
	Norsk Hydro ASA	1.125%	4/11/25	EUR	1,200		1,367
	Norsk Hydro ASA	2.000%	4/11/29	EUR	200		234
	Santander Consumer Bank AS	0.750%	3/1/23	EUR	27,800		31,657
	Santander Consumer Bank AS	0.875%	1/21/22	EUR	500		568
	SpareBank 1 Boligkreditt AS	0.125%	5/14/26	EUR	10,000		11,342
	SpareBank 1 Boligkreditt AS	0.250%	8/30/26	EUR	2,000		2,286
	SpareBank 1 Boligkreditt AS	0.375%	3/9/23	EUR	11,750		13,400
	SpareBank 1 Boligkreditt AS	1.000%	1/30/29	EUR	10,000		12,123
	Sparebank 1 Oestlandet	0.875%	3/13/23	EUR	100		115
	SpareBank 1 SMN	0.500%	3/9/22	EUR	3,100		3,506
	SpareBank 1 SMN	0.750%	6/8/21	EUR	19,494		22,049
	SpareBank 1 SMN	0.750%	7/3/23	EUR	2,700		3,088
	SpareBank 1 SR-Bank ASA	0.375%	2/10/22	EUR	8,470		9,532
	SpareBank 1 SR-Bank ASA	2.125%	4/14/21	EUR	10,100		11,641
	SR-Boligkreditt AS	0.375%	10/3/24	EUR	1,600		1,836
1	Storebrand Livsforsikring AS	6.875%	4/4/43	EUR	100		130
							146,259
Sovereign Bonds (0.3%)
	Avinor AS	1.000%	4/29/25	EUR	100		117
	Equinor ASA	1.250%	2/17/27	EUR	18,600		22,267
	Equinor ASA	1.625%	2/17/35	EUR	5,100		6,494
	Equinor ASA	1.625%	11/9/36	EUR	2,000		2,571
	Equinor ASA	2.875%	9/10/25	EUR	11,400		14,794
	Equinor ASA	5.625%	3/11/21	EUR	22,700		27,295
	Equinor ASA	6.125%	11/27/28	GBP	200		362
	Equinor ASA	6.875%	3/11/31	GBP	7,150		14,413
2	Kingdom of Norway	1.500%	2/19/26	NOK	130,000		14,323
2	Kingdom of Norway	1.750%	3/13/25	NOK	175,000		19,513
2	Kingdom of Norway	1.750%	2/17/27	NOK	153,000		17,152
2	Kingdom of Norway	1.750%	9/6/29	NOK	356,904		40,214
2	Kingdom of Norway	2.000%	5/24/23	NOK	392,915		43,841
2	Kingdom of Norway	2.000%	4/26/28	NOK	200,000		22,916
2	Kingdom of Norway	3.000%	3/14/24	NOK	567,600		66,351
2	Kingdom of Norway	3.750%	5/25/21	NOK	231,275		26,109

87

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Kommunalbanken AS	0.875%	5/24/27	EUR	29,700		35,532
	Kommunalbanken AS	1.500%	12/15/23	GBP	15,000		19,940
	Kommunalbanken AS	2.700%	9/5/23	AUD	800		579
	Kommunalbanken AS	3.000%	12/9/26	AUD	8,900		6,747
	Kommunalbanken AS	3.400%	7/24/28	AUD	1,500		1,176
	Kommunalbanken AS	4.250%	7/16/25	AUD	3,400		2,705
	Kommunalbanken AS	4.500%	7/18/22	AUD	3,700		2,771
	Kommunalbanken AS	4.500%	4/17/23	AUD	7,948		6,076
	Kommunalbanken AS	5.250%	7/15/24	AUD	6,270		5,084
	Kommunalbanken AS	6.500%	4/12/21	AUD	6,400		4,744
	Statkraft AS	1.125%	3/20/25	EUR	15,000		17,532
	Statkraft AS	1.500%	3/26/30	EUR	2,710		3,302
	Statkraft AS	2.500%	11/28/22	EUR	2,500		3,004
	Statnett SF	0.875%	3/8/25	EUR	5,000		5,787
	Telenor ASA	0.750%	5/31/26	EUR	16,200		18,675
	Telenor ASA	1.125%	5/31/29	EUR	16,150		19,121
	Telenor ASA	2.500%	5/22/25	EUR	2,400		3,026
	Telenor ASA	2.750%	6/27/22	EUR	5,000		5,998
							500,531
Total Norway (Cost $914,741)							882,118
Peru (0.0%)
Sovereign Bonds (0.0%)
	Republic of Peru	2.750%	1/30/26	EUR	14,000		17,951
	Republic of Peru	3.750%	3/1/30	EUR	8,000		11,623
Total Peru (Cost $29,014)							29,574
Philippines (0.0%)
Sovereign Bond (0.0%)
	Republic of the Philippines	0.875%	5/17/27	EUR	7,860		9,004
Total Philippines (Cost $8,866)							9,004
Poland (0.6%)
Corporate Bonds (0.0%)
	ORLEN Capital AB	2.500%	6/30/21	EUR	100		116
	ORLEN Capital AB	2.500%	6/7/23	EUR	5,700		6,823
							6,939
Sovereign Bonds (0.6%)
12	Bank Gospodarstwa Krajowego	1.375%	6/1/25	EUR	5,185		6,198
12	Bank Gospodarstwa Krajowego	1.625%	4/30/28	EUR	5,130		6,370
12	Bank Gospodarstwa Krajowego	1.750%	5/6/26	EUR	4,000		4,919
12	Bank Gospodarstwa Krajowego	2.000%	6/1/30	EUR	900		1,174
	Republic of Poland	0.875%	5/10/27	EUR	13,900		16,536
	Republic of Poland	1.000%	10/25/28	EUR	2,900		3,510
	Republic of Poland	1.125%	8/7/26	EUR	3,500		4,206
	Republic of Poland	1.375%	10/22/27	EUR	4,050		4,999
	Republic of Poland	1.500%	9/9/25	EUR	5,000		6,087
	Republic of Poland	1.500%	1/19/26	EUR	40,800		49,937
	Republic of Poland	1.750%	7/25/21	PLN	139,500		36,717
	Republic of Poland	2.000%	4/25/21	PLN	104,500		27,609
	Republic of Poland	2.000%	10/25/46	EUR	300		414
	Republic of Poland	2.250%	4/25/22	PLN	353,000		94,005
	Republic of Poland	2.375%	1/18/36	EUR	13,313		18,527
	Republic of Poland	2.500%	1/25/23	PLN	144,000		38,778
	Republic of Poland	2.500%	4/25/24	PLN	109,940		29,771

88

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Republic of Poland	2.500%	7/25/26	PLN	257,000		69,858
	Republic of Poland	2.500%	7/25/27	PLN	155,000		42,219
	Republic of Poland	2.750%	4/25/28	PLN	263,290		73,095
	Republic of Poland	2.750%	10/25/29	PLN	78,020		21,837
	Republic of Poland	3.000%	1/15/24	EUR	400		506
	Republic of Poland	3.250%	7/25/25	PLN	131,000		36,962
	Republic of Poland	3.375%	7/9/24	EUR	6,000		7,792
	Republic of Poland	3.750%	1/19/23	EUR	4,600		5,784
	Republic of Poland	4.000%	3/23/21	EUR	2,000		2,361
	Republic of Poland	4.000%	10/25/23	PLN	209,375		59,703
	Republic of Poland	4.000%	4/25/47	PLN	31,954		10,789
	Republic of Poland	4.500%	1/18/22	EUR	6,500		8,004
	Republic of Poland	5.250%	10/25/20	PLN	51,400		14,023
	Republic of Poland	5.250%	1/20/25	EUR	7,400		10,573
	Republic of Poland	5.750%	10/25/21	PLN	126,100		35,750
	Republic of Poland	5.750%	9/23/22	PLN	42,500		12,433
	Republic of Poland	5.750%	4/25/29	PLN	25,850		9,091
							770,537
Total Poland (Cost $750,020)							777,476
Portugal (0.8%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.0%)
	Banco Santander Totta SA	1.250%	9/26/27	EUR	9,200		11,153
	Caixa Geral de Depositos SA	1.000%	1/27/22	EUR	4,900		5,608
							16,761
Corporate Bonds (0.1%)
	Banco Comercial Portugues SA	0.750%	5/31/22	EUR	700		797
	Banco Santander Totta SA	0.875%	4/25/24	EUR	100		117
	Brisa Concessao Rodoviaria SA	2.000%	3/22/23	EUR	200		237
	Brisa Concessao Rodoviaria SA	2.375%	5/10/27	EUR	13,300		16,591
	EDP Finance BV	1.125%	2/12/24	EUR	26,400		30,592
	EDP Finance BV	1.875%	9/29/23	EUR	8,900		10,572
	EDP Finance BV	1.875%	10/13/25	EUR	1,200		1,458
	EDP Finance BV	2.000%	4/22/25	EUR	11,700		14,222
	EDP Finance BV	2.375%	3/23/23	EUR	800		961
	EDP Finance BV	2.625%	1/18/22	EUR	10,955		12,920
	EDP Finance BV	8.625%	1/4/24	GBP	9,005		14,974
	Galp Gas Natural Distribuicao SA	1.375%	9/19/23	EUR	2,600		3,020
	Ren Finance BV	1.750%	1/18/28	EUR	2,650		3,190
							109,651
Sovereign Bonds (0.7%)
2	Portugal Obrigacoes do Tesouro OT	3.850%	4/15/21	EUR	111,000		131,732
2	Portugal Obrigacoes do Tesouro OT	4.100%	4/15/37	EUR	16,700		28,959
	Portugal Obrigacoes do Tesouro OT	4.125%	4/14/27	EUR	33,009		48,056
2	Portuguese Republic	1.950%	6/15/29	EUR	154,129		201,382
2	Portuguese Republic	2.200%	10/17/22	EUR	65,000		78,131
2	Portuguese Republic	2.250%	4/18/34	EUR	50,000		69,195
2	Portuguese Republic	2.875%	10/15/25	EUR	123,086		161,618
2	Portuguese Republic	3.875%	2/15/30	EUR	30,000		45,906
2	Portuguese Republic	4.100%	2/15/45	EUR	44,000		82,158
2	Portuguese Republic	4.950%	10/25/23	EUR	43,100		58,092
2	Portuguese Republic	5.650%	2/15/24	EUR	80,000		111,743
							1,016,972
Total Portugal (Cost $1,083,796)							1,143,384

89

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Romania (0.1%)
Sovereign Bonds (0.1%)
2	Republic of Romania	2.000%	12/8/26	EUR	3,650		4,407
	Republic of Romania	2.124%	7/16/31	EUR	50		58
2	Republic of Romania	2.124%	7/16/31	EUR	4,310		4,970
	Republic of Romania	2.375%	4/19/27	EUR	22,500		27,815
	Republic of Romania	2.500%	2/8/30	EUR	7,000		8,566
	Republic of Romania	2.750%	10/29/25	EUR	11,385		14,384
	Republic of Romania	2.875%	5/26/28	EUR	33,525		42,518
	Republic of Romania	3.625%	4/24/24	EUR	5,200		6,703
	Republic of Romania	3.875%	10/29/35	EUR	8,000		10,639
	Republic of Romania	4.125%	3/11/39	EUR	3,000		4,049
	Republic of Romania	4.625%	4/3/49	EUR	2,000		2,895
2	Republic of Romania	4.625%	4/3/49	EUR	8,485		12,332
Total Romania (Cost $128,559)							139,336
Russia (0.3%)
Sovereign Bonds (0.3%)
	Gazprom OAO Via Gaz Capital SA	2.750%	11/30/21	CHF	2,100		2,244
	Gazprom OAO Via Gaz Capital SA	2.949%	1/24/24	EUR	500		605
	Gazprom OAO Via Gaz Capital SA	3.125%	11/17/23	EUR	500		610
	Gazprom OAO Via Gaz Capital SA	4.250%	4/6/24	GBP	3,643		5,110
	Russian Federation	2.875%	12/4/25	EUR	100		126
2	Russian Federation	2.875%	12/4/25	EUR	12,300		15,456
	Russian Federation	6.500%	2/28/24	RUB	1,000,000		15,844
	Russian Federation	6.900%	5/23/29	RUB	2,899,000		46,912
	Russian Federation	7.000%	12/15/21	RUB	450,000		7,166
	Russian Federation	7.000%	1/25/23	RUB	1,525,000		24,498
	Russian Federation	7.000%	8/16/23	RUB	3,070,000		49,414
	Russian Federation	7.050%	1/19/28	RUB	2,650,000		43,272
	Russian Federation	7.100%	10/16/24	RUB	300,000		4,871
	Russian Federation	7.250%	5/10/34	RUB	2,300,000		38,069
	Russian Federation	7.400%	12/7/22	RUB	745,000		12,083
	Russian Federation	7.400%	7/17/24	RUB	1,249,000		20,502
	Russian Federation	7.600%	4/14/21	RUB	1,600,000		25,529
	Russian Federation	7.600%	7/20/22	RUB	2,600,000		42,194
	Russian Federation	7.700%	3/23/33	RUB	840,000		14,437
	Russian Federation	7.950%	10/7/26	RUB	2,350,000		40,098
	Russian Federation	8.150%	2/3/27	RUB	4,454,500		76,917
	Russian Railways Via RZD Capital plc	7.487%	3/25/31	GBP	2,000		3,444
Total Russia (Cost $475,395)							489,401
Saudi Arabia (0.0%)
Sovereign Bonds (0.0%)
2	Kingdom of Saudi Arabia	0.750%	7/9/27	EUR	10,000		11,391
	Kingdom of Saudi Arabia	2.000%	7/9/39	EUR	7,000		8,246
Total Saudi Arabia (Cost $19,922)							19,637
Singapore (0.5%)
Corporate Bonds (0.1%)
	DBS Bank Ltd.	0.375%	1/23/24	EUR	31,000		35,359
1	DBS Group Holdings Ltd.	1.500%	4/11/28	EUR	5,000		5,663
1	DBS Group Holdings Ltd.	3.980%	12/31/49	SGD	1,750		1,328
	Oversea-Chinese Banking Corp. Ltd.	0.375%	3/1/23	EUR	2,060		2,342

90

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Oversea-Chinese Banking Corp. Ltd.	0.625%	4/18/25	EUR	10,000		11,584
1	Oversea-Chinese Banking Corp. Ltd.	4.000%	12/31/49	SGD	2,750		2,081
	United Overseas Bank Ltd.	0.125%	3/2/22	EUR	2,300		2,588
	United Overseas Bank Ltd.	0.500%	1/16/25	EUR	12,500		14,368
							75,313
Sovereign Bonds (0.4%)
	Housing & Development Board	1.470%	7/19/21	SGD	30,000		21,948
	Housing & Development Board	2.035%	9/16/26	SGD	9,750		7,203
	Housing & Development Board	2.598%	10/30/29	SGD	6,000		4,590
	Housing & Development Board	2.675%	1/22/29	SGD	5,000		3,858
	Housing & Development Board	3.080%	5/31/30	SGD	5,000		3,992
	Housing & Development Board	3.100%	7/24/24	SGD	9,250		7,185
	Housing & Development Board	3.140%	3/18/21	SGD	10,000		7,488
	Republic of Singapore	1.750%	4/1/22	SGD	20,000		14,745
	Republic of Singapore	1.750%	2/1/23	SGD	100,000		73,770
	Republic of Singapore	2.000%	7/1/20	SGD	20,000		14,734
	Republic of Singapore	2.125%	6/1/26	SGD	21,240		16,008
	Republic of Singapore	2.250%	6/1/21	SGD	45,370		33,675
	Republic of Singapore	2.250%	8/1/36	SGD	25,500		19,641
	Republic of Singapore	2.375%	6/1/25	SGD	40,000		30,507
	Republic of Singapore	2.375%	7/1/39	SGD	21,100		16,540
	Republic of Singapore	2.625%	5/1/28	SGD	75,000		58,938
	Republic of Singapore	2.750%	7/1/23	SGD	10,150		7,756
	Republic of Singapore	2.750%	4/1/42	SGD	21,485		17,901
	Republic of Singapore	2.750%	3/1/46	SGD	47,250		39,387
	Republic of Singapore	2.875%	7/1/29	SGD	13,435		10,850
	Republic of Singapore	2.875%	9/1/30	SGD	19,600		15,945
	Republic of Singapore	3.000%	9/1/24	SGD	16,500		12,902
	Republic of Singapore	3.125%	9/1/22	SGD	69,000		52,829
	Republic of Singapore	3.375%	9/1/33	SGD	32,000		27,898
	Republic of Singapore	3.500%	3/1/27	SGD	45,400		37,497
	Temasek Financial I Ltd.	0.500%	3/1/22	EUR	9,000		10,203
	Temasek Financial I Ltd.	5.125%	7/26/40	GBP	2,000		4,166
							572,156
Total Singapore (Cost $632,069)							647,469
Slovakia (0.2%)
Sovereign Bonds (0.2%)
	Slovak Republic	0.000%	11/13/23	EUR	62,800		70,912
	Slovak Republic	0.625%	5/22/26	EUR	13,000		15,297
	Slovak Republic	0.750%	4/9/30	EUR	4,825		5,778
	Slovak Republic	1.000%	6/12/28	EUR	24,730		30,073
	Slovak Republic	1.375%	1/21/27	EUR	21,200		26,179
	Slovak Republic	1.625%	1/21/31	EUR	14,500		18,837
	Slovak Republic	1.875%	3/9/37	EUR	5,000		6,811
	Slovak Republic	2.000%	10/17/47	EUR	6,125		9,055
	Slovak Republic	2.250%	6/12/68	EUR	2,500		4,164
	Slovak Republic	3.000%	2/28/23	EUR	5,000		6,190
	Slovak Republic	3.375%	11/15/24	EUR	20,000		26,429
	Slovak Republic	3.625%	1/16/29	EUR	3,000		4,504
	Slovak Republic	4.000%	3/26/21	EUR	1,000		1,183
Total Slovakia (Cost $213,082)							225,412

91

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Slovenia (0.1%)
Sovereign Bonds (0.1%)
	Republic of Slovenia	1.000%	3/6/28	EUR	35,000		42,317
	Republic of Slovenia	1.188%	3/14/29	EUR	10,000		12,313
	Republic of Slovenia	1.250%	3/22/27	EUR	14,000		17,180
	Republic of Slovenia	1.500%	3/25/35	EUR	12,000		15,399
	Republic of Slovenia	1.750%	11/3/40	EUR	10,000		13,572
	Republic of Slovenia	2.125%	7/28/25	EUR	5,000		6,343
	Republic of Slovenia	2.250%	3/25/22	EUR	11,072		13,149
	Republic of Slovenia	3.125%	8/7/45	EUR	10,000		16,783
	Republic of Slovenia	4.625%	9/9/24	EUR	4,000		5,533
	Republic of Slovenia	5.125%	3/30/26	EUR	8,000		11,985
Total Slovenia (Cost $138,964)							154,574
South Africa (0.0%)
Corporate Bonds (0.0%)
	Anglo American Capital plc	1.625%	9/18/25	EUR	250		290
	Anglo American Capital plc	1.625%	3/11/26	EUR	200		231
	Anglo American Capital plc	3.500%	3/28/22	EUR	11,849		14,228
Total South Africa (Cost $15,201)							14,749
South Korea (2.7%)
Asset-Backed/Commercial Mortgage-Backed Security (0.0%)
2	Korea Housing Finance Corp.	0.750%	10/30/23	EUR	4,800		5,525
Corporate Bonds (0.0%)
	Hyundai Capital Services Inc.	3.500%	6/3/21	AUD	995		703
2	LG Chem Ltd.	0.500%	4/15/23	EUR	1,100		1,239
							1,942
Sovereign Bonds (2.7%)
	Bank of Korea	2.060%	12/2/19	KRW	50,000,000		42,997
	Export-Import Bank of Korea	0.375%	3/26/24	EUR	10,000		11,334
	Export-Import Bank of Korea	0.625%	7/11/23	EUR	1,000		1,144
	Export-Import Bank of Korea	4.000%	6/7/27	AUD	850		658
	Korea Development Bank	0.625%	7/17/23	EUR	13,475		15,428
	Korea Monetary Stabilization Bond	1.740%	4/2/21	KRW	76,000,000		65,503
	Korea Monetary Stabilization Bond	1.810%	2/2/21	KRW	67,000,000		57,791
	Republic of Korea	1.250%	7/31/21	KRW	20,000,000		17,123
	Republic of Korea	1.250%	8/31/21	KRW	17,000,000		14,575
	Republic of Korea	1.250%	11/30/21	KRW	10,000,000		8,567
	Republic of Korea	1.375%	9/10/21	KRW	173,000,000		148,659
	Republic of Korea	1.500%	4/30/21	KRW	20,000,000		17,209
	Republic of Korea	1.500%	11/30/21	KRW	40,000,000		34,451
	Republic of Korea	1.500%	12/31/21	KRW	40,000,000		34,452
	Republic of Korea	1.500%	12/10/26	KRW	130,000,000		110,505
	Republic of Korea	1.500%	9/10/36	KRW	140,000,000		116,085
	Republic of Korea	1.750%	5/31/20	KRW	20,000,000		17,228
	Republic of Korea	1.750%	6/30/20	KRW	10,000,000		8,617
	Republic of Korea	1.750%	7/31/20	KRW	38,000,000		32,753
	Republic of Korea	1.750%	8/31/20	KRW	30,000,000		25,865
	Republic of Korea	1.750%	10/31/20	KRW	10,000,000		8,627
	Republic of Korea	1.750%	11/30/20	KRW	20,000,000		17,260
	Republic of Korea	1.750%	12/10/20	KRW	40,000,000		34,546
	Republic of Korea	1.750%	12/31/20	KRW	10,000,000		8,630

92

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Republic of Korea	1.750%	1/31/21	KRW	10,000,000		8,632
	Republic of Korea	1.875%	3/10/22	KRW	200,000,000		173,740
	Republic of Korea	1.875%	3/10/24	KRW	90,000,000		78,532
	Republic of Korea	1.875%	6/10/26	KRW	132,000,000		115,089
	Republic of Korea	1.875%	6/10/29	KRW	138,000,000		119,727
	Republic of Korea	2.000%	2/29/20	KRW	30,000,000		25,844
	Republic of Korea	2.000%	3/31/20	KRW	10,000,000		8,619
	Republic of Korea	2.000%	12/10/21	KRW	205,000,000		178,368
	Republic of Korea	2.000%	9/10/22	KRW	40,000,000		34,932
	Republic of Korea	2.000%	3/10/46	KRW	65,000,000		59,753
	Republic of Korea	2.000%	3/10/49	KRW	130,360,000		119,287
	Republic of Korea	2.000%	9/10/68	KRW	25,682,000		24,071
	Republic of Korea	2.125%	6/10/24	EUR	12,217		14,885
	Republic of Korea	2.125%	6/10/27	KRW	125,000,000		110,613
	Republic of Korea	2.125%	3/10/47	KRW	104,000,000		97,203
	Republic of Korea	2.250%	6/10/21	KRW	110,000,000		95,878
	Republic of Korea	2.250%	9/10/23	KRW	115,000,000		101,656
	Republic of Korea	2.250%	6/10/25	KRW	79,000,000		70,370
	Republic of Korea	2.250%	12/10/25	KRW	30,000,000		26,732
	Republic of Korea	2.250%	9/10/37	KRW	108,000,000		100,077
	Republic of Korea	2.375%	3/10/23	KRW	110,000,000		97,392
	Republic of Korea	2.375%	12/10/27	KRW	95,000,000		85,672
	Republic of Korea	2.375%	12/10/28	KRW	100,000,000		90,571
	Republic of Korea	2.375%	9/10/38	KRW	126,600,000		119,507
	Republic of Korea	2.625%	6/10/28	KRW	175,000,000		161,149
	Republic of Korea	2.625%	9/10/35	KRW	49,000,000		47,521
	Republic of Korea	2.625%	3/10/48	KRW	108,695,000		112,334
	Republic of Korea	2.750%	12/10/44	KRW	47,990,000		50,333
	Republic of Korea	3.000%	3/10/23	KRW	84,000,000		75,875
	Republic of Korea	3.000%	9/10/24	KRW	95,000,000		87,384
	Republic of Korea	3.000%	12/10/42	KRW	41,000,000		44,167
	Republic of Korea	3.375%	9/10/23	KRW	40,000,000		36,845
	Republic of Korea	3.750%	12/10/33	KRW	96,500,000		104,156
	Republic of Korea	4.000%	12/10/31	KRW	41,000,000		44,051
	Republic of Korea	4.250%	6/10/21	KRW	45,000,000		40,443
	Republic of Korea	4.750%	12/10/30	KRW	28,000,000		31,452
	Republic of Korea	5.250%	3/10/27	KRW	15,500,000		16,593
	Republic of Korea	5.500%	3/10/28	KRW	20,000,000		22,228
	Republic of Korea	5.500%	12/10/29	KRW	16,000,000		18,579
	Republic of Korea	5.750%	3/10/26	KRW	14,000,000		15,003
							3,715,270
Total South Korea (Cost $3,684,734)							3,722,737
Spain (5.5%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.4%)
	AyT Cedulas Cajas Global	3.750%	12/14/22	EUR	800		1,001
	AyT Cedulas Cajas Global	4.000%	3/24/21	EUR	7,000		8,258
	AyT Cedulas Cajas Global	4.250%	10/25/23	EUR	1,100		1,441
	AyT Cedulas Cajas Global	4.750%	5/25/27	EUR	10,700		16,063
	AyT Cedulas Cajas X Fondo de Titulizacion de Activos	3.750%	6/30/25	EUR	10,000		13,589
	Banco Bilbao Vizcaya Argentaria SA	2.250%	6/12/24	EUR	3,000		3,729
	Banco Bilbao Vizcaya Argentaria SA	3.500%	1/24/21	EUR	5,000		5,837
	Banco Bilbao Vizcaya Argentaria SA	3.875%	1/30/23	EUR	6,000		7,602

93

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Banco Bilbao Vizcaya Argentaria SA	4.000%	2/25/25	EUR	7,100		9,698
	Banco de Sabadell SA	0.625%	6/10/24	EUR	30,500		35,311
	Banco de Sabadell SA	0.875%	11/12/21	EUR	10,000		11,427
	Banco Santander SA	0.750%	9/9/22	EUR	20,700		23,804
	Banco Santander SA	1.000%	4/7/25	EUR	43,000		51,054
	Banco Santander SA	1.125%	11/27/24	EUR	14,500		17,280
	Banco Santander SA	1.125%	10/25/28	EUR	7,600		9,318
	Banco Santander SA	2.000%	11/27/34	EUR	6,600		9,146
	Banco Santander SA	3.875%	2/6/26	EUR	400		559
	Banco Santander SA	4.625%	5/4/27	EUR	1,600		2,419
	Bankia SA	0.875%	1/21/21	EUR	5,800		6,559
	Bankia SA	1.000%	9/25/25	EUR	11,200		13,208
	Bankia SA	1.125%	8/5/22	EUR	23,000		26,624
	Bankia SA	4.000%	2/3/25	EUR	12,300		16,637
	Bankia SA	4.125%	3/24/36	EUR	4,700		8,099
	Bankia SA	4.500%	4/26/22	EUR	4,050		5,051
	Bankinter SA	0.875%	8/3/22	EUR	10,300		11,847
	Bankinter SA	1.000%	2/5/25	EUR	8,200		9,680
	CaixaBank SA	0.625%	3/27/25	EUR	18,000		20,846
	CaixaBank SA	2.625%	3/21/24	EUR	5,600		7,022
	CaixaBank SA	3.625%	1/18/21	EUR	5,000		5,842
	CaixaBank SA	3.875%	2/17/25	EUR	12,000		16,236
	CaixaBank SA	4.500%	1/26/22	EUR	15,000		18,545
	Caja Rural de Navarra SCC	0.500%	3/16/22	EUR	14,700		16,671
	Caja Rural de Navarra SCC	0.875%	5/8/25	EUR	6,400		7,477
	Cajamar Caja Rural SCC	0.875%	6/18/23	EUR	15,000		17,279
	Cajamar Caja Rural SCC	1.250%	1/26/22	EUR	3,100		3,568
	Cedulas TDA 6 Fondo de Titulizacion de Activos	3.875%	5/23/25	EUR	5,000		6,830
	Eurocaja Rural SCC	0.875%	10/1/21	EUR	4,000		4,562
	Eurocaja Rural SCC	0.875%	5/27/24	EUR	5,000		5,803
	IM Cedulas 10	4.500%	2/21/22	EUR	11,300		13,977
	IM Cedulas 7 Fondo de Titulazion de Activos	4.000%	3/31/21	EUR	10,000		11,823
	Kutxabank SA	1.750%	5/27/21	EUR	5,000		5,757
	Programa Cedulas TDA Fondo de Titulizacion de Activos	4.125%	4/10/21	EUR	6,500		7,706
	Programa Cedulas TDA Fondo de Titulizacion de Activos	4.250%	3/28/27	EUR	8,500		12,417
	Programa Cedulas TDA Fondo de Titulizacion de Activos	4.250%	4/10/31	EUR	19,800		32,075
							539,677
Corporate Bonds (0.6%)
	Abertis Infraestructuras SA	0.625%	7/15/25	EUR	5,000		5,501
	Abertis Infraestructuras SA	1.000%	2/27/27	EUR	1,300		1,451
	Abertis Infraestructuras SA	1.375%	5/20/26	EUR	700		804
	Abertis Infraestructuras SA	1.500%	6/27/24	EUR	1,900		2,198
	Abertis Infraestructuras SA	2.375%	9/27/27	EUR	10,000		12,067
	Abertis Infraestructuras SA	2.500%	2/27/25	EUR	200		244
	Abertis Infraestructuras SA	3.000%	3/27/31	EUR	10,000		12,423
	Abertis Infraestructuras SA	3.375%	11/27/26	GBP	3,000		4,116
	Abertis Infraestructuras SA	3.750%	6/20/23	EUR	3,100		3,887
	ACS Servicios Comunicaciones y Energia SL	1.875%	4/20/26	EUR	3,900		4,632
	Banco Bilbao Vizcaya Argentaria SA	0.625%	1/17/22	EUR	1,000		1,133

94

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Banco Bilbao Vizcaya Argentaria SA	0.625%	3/18/23	EUR	21,000		24,130
	Banco Bilbao Vizcaya Argentaria SA	0.750%	1/20/22	EUR	12,100		13,823
	Banco Bilbao Vizcaya Argentaria SA	1.000%	1/20/21	EUR	1,000		1,131
	Banco Bilbao Vizcaya Argentaria SA	1.125%	2/28/24	EUR	3,000		3,460
	Banco Bilbao Vizcaya Argentaria SA	3.500%	2/10/27	EUR	17,100		22,259
	Banco de Sabadell SA	0.125%	10/20/23	EUR	9,800		11,087
	Banco de Sabadell SA	0.875%	3/5/23	EUR	5,000		5,659
	Banco de Sabadell SA	1.625%	3/7/24	EUR	18,700		21,801
	Banco Santander SA	0.250%	7/10/29	EUR	10,000		11,304
	Banco Santander SA	0.875%	5/9/31	EUR	10,200		12,251
	Banco Santander SA	1.125%	1/17/25	EUR	9,000		10,443
	Banco Santander SA	1.375%	3/3/21	EUR	100		114
	Banco Santander SA	1.375%	2/9/22	EUR	10,500		12,071
	Banco Santander SA	1.375%	12/14/22	EUR	6,900		8,021
	Banco Santander SA	1.375%	7/31/24	GBP	4,000		5,149
	Banco Santander SA	1.500%	1/25/26	EUR	26,000		32,003
	Banco Santander SA	2.125%	2/8/28	EUR	2,600		3,109
	Banco Santander SA	2.500%	3/18/25	EUR	19,400		23,529
	Banco Santander SA	2.750%	9/12/23	GBP	2,400		3,243
	Banco Santander SA	3.250%	4/4/26	EUR	500		638
	Bankia SA	0.750%	7/9/26	EUR	3,800		4,285
	Bankia SA	1.000%	3/14/23	EUR	18,200		21,122
	Bankinter SA	1.250%	2/7/28	EUR	500		611
	CaixaBank SA	0.750%	4/18/23	EUR	1,700		1,933
	CaixaBank SA	1.000%	2/8/23	EUR	6,300		7,314
	CaixaBank SA	1.000%	1/17/28	EUR	5,500		6,609
	CaixaBank SA	1.125%	1/12/23	EUR	2,000		2,283
	CaixaBank SA	1.125%	5/17/24	EUR	8,000		9,270
	CaixaBank SA	1.250%	1/11/27	EUR	600		730
	CaixaBank SA	1.375%	6/19/26	EUR	10,000		11,542
	CaixaBank SA	1.750%	10/24/23	EUR	10,000		11,712
1	CaixaBank SA	2.250%	4/17/30	EUR	25,000		28,802
	CaixaBank SA	2.375%	2/1/24	EUR	6,700		8,056
1	CaixaBank SA	2.750%	7/14/28	EUR	4,000		4,713
	Canal de Isabel II Gestion SA	1.680%	2/26/25	EUR	3,500		4,147
	Criteria Caixa SAU	1.500%	5/10/23	EUR	2,700		3,132
	Criteria Caixa SAU	1.625%	4/21/22	EUR	3,000		3,475
	Enagas Financiaciones SAU	1.000%	3/25/23	EUR	100		115
	Enagas Financiaciones SAU	1.250%	2/6/25	EUR	5,200		6,119
	Enagas Financiaciones SAU	1.375%	5/5/28	EUR	200		239
	Enagas Financiaciones SAU	2.500%	4/11/22	EUR	2,000		2,366
	Ferrovial Emisiones SA	2.500%	7/15/24	EUR	5,000		6,146
	Ferrovial Emisiones SA	3.375%	6/7/21	EUR	700		823
	Iberdrola Finanzas SAU	1.000%	3/7/24	EUR	5,900		6,844
	Iberdrola Finanzas SAU	1.000%	3/7/25	EUR	300		350
	Iberdrola Finanzas SAU	1.621%	11/29/29	EUR	700		874
	Iberdrola Finanzas SAU	6.000%	7/1/22	GBP	6,500		9,465
	Iberdrola Finanzas SAU	7.375%	1/29/24	GBP	4,600		7,444
	Iberdrola International BV	0.375%	9/15/25	EUR	16,700		18,881
	Iberdrola International BV	1.125%	1/27/23	EUR	200		231
	Iberdrola International BV	1.125%	4/21/26	EUR	6,800		8,049
	Iberdrola International BV	1.750%	9/17/23	EUR	10,000		11,899
	Iberdrola International BV	1.875%	10/8/24	EUR	400		486
1	Iberdrola International BV	1.875%	12/31/49	EUR	800		912

95

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Iberdrola International BV	2.500%	10/24/22	EUR	2,600		3,117
1	Iberdrola International BV	2.625%	12/31/49	EUR	1,100		1,303
	Iberdrola International BV	3.000%	1/31/22	EUR	3,200		3,815
1	Iberdrola International BV	3.250%	12/31/49	EUR	14,600		17,797
	Iberdrola International BV	3.500%	2/1/21	EUR	14,100		16,436
	Inmobiliaria Colonial Socimi SA	1.450%	10/28/24	EUR	4,500		5,265
	Inmobiliaria Colonial Socimi SA	1.625%	11/28/25	EUR	1,100		1,301
	Inmobiliaria Colonial Socimi SA	2.728%	6/5/23	EUR	7,300		8,893
	Mapfre SA	1.625%	5/19/26	EUR	1,500		1,812
1	Mapfre SA	4.125%	9/7/48	EUR	7,100		9,124
1	Mapfre SA	4.375%	3/31/47	EUR	4,500		5,800
	Merlin Properties Socimi SA	1.750%	5/26/25	EUR	9,670		11,449
	Merlin Properties Socimi SA	2.225%	4/25/23	EUR	400		475
	Merlin Properties Socimi SA	2.375%	5/23/22	EUR	8,700		10,216
	Naturgy Capital Markets SA	1.125%	4/11/24	EUR	4,300		5,001
	Naturgy Finance BV	0.875%	5/15/25	EUR	15,300		17,691
	Naturgy Finance BV	1.250%	4/19/26	EUR	8,900		10,508
	Naturgy Finance BV	1.375%	1/19/27	EUR	200		238
	Naturgy Finance BV	2.875%	3/11/24	EUR	4,000		4,996
	NorteGas Energia Distribucion SAU	0.918%	9/28/22	EUR	400		455
	NorteGas Energia Distribucion SAU	2.065%	9/28/27	EUR	10,500		12,552
	Prosegur Cash SA	1.375%	2/4/26	EUR	1,200		1,360
	Red Electrica Financiaciones SAU	1.000%	4/21/26	EUR	600		703
	Red Electrica Financiaciones SAU	1.125%	4/24/25	EUR	300		354
	Red Electrica Financiaciones SAU	1.250%	3/13/27	EUR	600		716
	Red Electrica Financiaciones SAU	2.125%	7/1/23	EUR	6,800		8,171
	Red Electrica Financiaciones SAU	3.875%	1/25/22	EUR	2,000		2,426
	Repsol International Finance BV	0.250%	8/2/27	EUR	1,200		1,325
	Repsol International Finance BV	0.500%	5/23/22	EUR	7,500		8,477
	Repsol International Finance BV	2.125%	12/16/20	EUR	4,200		4,802
	Repsol International Finance BV	2.250%	12/10/26	EUR	10,100		12,838
	Santander Consumer Finance SA	0.500%	10/4/21	EUR	20,100		22,671
	Santander Consumer Finance SA	0.875%	1/24/22	EUR	30,700		34,912
	Santander Consumer Finance SA	0.875%	5/30/23	EUR	3,300		3,773
	Santander Consumer Finance SA	1.000%	5/26/21	EUR	100		114
	Santander Consumer Finance SA	1.000%	2/27/24	EUR	6,000		6,904
	Santander Consumer Finance SA	1.125%	10/9/23	EUR	15,000		17,334
	Santander Consumer Finance SA	1.500%	11/12/20	EUR	7,400		8,395
	Telefonica Emisiones SAU	1.069%	2/5/24	EUR	17,000		19,701
	Telefonica Emisiones SAU	1.447%	1/22/27	EUR	9,100		10,822
	Telefonica Emisiones SAU	1.460%	4/13/26	EUR	4,000		4,769
	Telefonica Emisiones SAU	1.477%	9/14/21	EUR	12,000		13,771
	Telefonica Emisiones SAU	1.788%	3/12/29	EUR	8,600		10,504
	Telefonica Emisiones SAU	1.957%	7/1/39	EUR	8,000		9,517
	Telefonica Emisiones SAU	2.318%	10/17/28	EUR	800		1,027
	Telefonica Emisiones SAU	2.932%	10/17/29	EUR	11,300		15,285
	Telefonica Emisiones SAU	3.961%	3/26/21	EUR	12,100		14,271
	Telefonica Emisiones SAU	3.987%	1/23/23	EUR	20,000		25,139
	Telefonica Emisiones SAU	5.289%	12/9/22	GBP	1,000		1,453
	Telefonica Emisiones SAU	5.375%	2/2/26	GBP	2,600		4,065
	Telefonica Emisiones SAU	5.445%	10/8/29	GBP	3,750		6,266
	Telefonica Europe BV	5.875%	2/14/33	EUR	832		1,452
							906,221

96

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Sovereign Bonds (4.5%)
	Adif - Alta Velocidad	1.875%	1/28/25	EUR	15,100		18,403
	Adif - Alta Velocidad	3.500%	5/27/24	EUR	12,000		15,483
	Autonomous Community of Madrid Spain	0.727%	5/19/21	EUR	23,300		26,372
	Autonomous Community of Madrid Spain	0.997%	9/30/24	EUR	1,720		2,018
	Autonomous Community of Madrid Spain	1.571%	4/30/29	EUR	10,000		12,405
	Autonomous Community of Madrid Spain	1.773%	4/30/28	EUR	13,625		17,104
	Autonomous Community of Madrid Spain	1.826%	4/30/25	EUR	14,000		17,128
	Autonomous Community of Madrid Spain	2.080%	3/12/30	EUR	5,000		6,481
	Autonomous Community of Madrid Spain	2.146%	4/30/27	EUR	17,000		21,708
	Autonomous Community of Madrid Spain	2.875%	7/17/23	EUR	8,950		11,084
	Autonomous Community of Madrid Spain	4.125%	5/21/24	EUR	21,500		28,510
	Autonomous Community of Madrid Spain	4.300%	9/15/26	EUR	10,800		15,440
13	FADE - Fondo de Amortizacion del Deficit Electrico	0.500%	3/17/23	EUR	30,000		34,199
13	FADE - Fondo de Amortizacion del Deficit Electrico	5.900%	3/17/21	EUR	2,000		2,418
13	Fondo De Titulizacion Del Deficit Del Sistema Electrico FTA	0.850%	12/17/23	EUR	5,000		5,800
13	Instituto de Credito Oficial	6.000%	3/8/21	EUR	5,000		6,050
	Kingdom of Spain	0.050%	1/31/21	EUR	227,100		254,839
	Kingdom of Spain	0.050%	10/31/21	EUR	157,839		177,703
	Kingdom of Spain	0.350%	7/30/23	EUR	238,590		272,391
	Kingdom of Spain	0.400%	4/30/22	EUR	285,000		324,207
2	Kingdom of Spain	0.600%	10/31/29	EUR	24,000		27,758
2	Kingdom of Spain	1.400%	4/30/28	EUR	122,100		151,023
2	Kingdom of Spain	1.400%	7/30/28	EUR	161,563		199,917
2	Kingdom of Spain	1.450%	10/31/27	EUR	39,400		48,732
2	Kingdom of Spain	1.450%	4/30/29	EUR	292,799		364,747
2	Kingdom of Spain	1.500%	4/30/27	EUR	296,489		366,719
2	Kingdom of Spain	1.600%	4/30/25	EUR	142,255		173,848
2	Kingdom of Spain	1.850%	7/30/35	EUR	60,000		78,949
2	Kingdom of Spain	1.950%	4/30/26	EUR	223,371		281,315
2	Kingdom of Spain	1.950%	7/30/30	EUR	132,200		173,264
2	Kingdom of Spain	2.150%	10/31/25	EUR	71,100		89,940
2	Kingdom of Spain	2.350%	7/30/33	EUR	115,926		160,923
2	Kingdom of Spain	2.700%	10/31/48	EUR	88,330		137,044
2	Kingdom of Spain	2.750%	10/31/24	EUR	217,800		278,813
2	Kingdom of Spain	2.900%	10/31/46	EUR	38,350		61,073
2	Kingdom of Spain	3.450%	7/30/66	EUR	73,000		136,517
2	Kingdom of Spain	3.800%	4/30/24	EUR	82,820		109,108
2	Kingdom of Spain	4.200%	1/31/37	EUR	144,580		254,193
2	Kingdom of Spain	4.400%	10/31/23	EUR	80,495		106,555
2	Kingdom of Spain	4.650%	7/30/25	EUR	18,760		26,642
2	Kingdom of Spain	4.700%	7/30/41	EUR	182,400		356,858
2	Kingdom of Spain	4.800%	1/31/24	EUR	51,335		69,541
2	Kingdom of Spain	4.900%	7/30/40	EUR	37,980		75,162
2	Kingdom of Spain	5.150%	10/31/28	EUR	208,090		335,440
2	Kingdom of Spain	5.150%	10/31/44	EUR	81,195		173,993
2	Kingdom of Spain	5.400%	1/31/23	EUR	144,580		191,424
2	Kingdom of Spain	5.500%	4/30/21	EUR	27,810		33,768
	Kingdom of Spain	5.750%	7/30/32	EUR	35,450		65,954
2	Kingdom of Spain	5.850%	1/31/22	EUR	132,300		168,456

97

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
2	Kingdom of Spain	5.900%	7/30/26	EUR	157,401		245,615
	Kingdom of Spain	6.000%	1/31/29	EUR	27,165		46,503
							6,259,537
Total Spain (Cost $7,168,041)							7,705,435
Supranational (3.2%)
Sovereign Bonds (3.2%)
	African Development Bank	0.125%	10/7/26	EUR	4,000		4,568
	African Development Bank	0.250%	11/21/24	EUR	22,600		26,017
	African Development Bank	0.500%	3/21/29	EUR	4,000		4,680
	African Development Bank	0.875%	12/20/21	GBP	1,500		1,946
	African Development Bank	3.300%	7/27/27	AUD	1,000		766
	African Development Bank	3.350%	8/8/28	AUD	500		388
	African Development Bank	4.000%	1/10/25	AUD	14,330		11,106
	African Development Bank	4.500%	6/2/26	AUD	3,000		2,431
	African Development Bank	4.750%	3/6/24	AUD	2,000		1,569
	African Development Bank	5.250%	3/23/22	AUD	14,000		10,539
	Asian Development Bank	0.000%	10/24/29	EUR	5,200		5,831
	Asian Development Bank	0.200%	5/25/23	EUR	1,000		1,141
	Asian Development Bank	0.625%	9/15/26	GBP	7,400		9,434
	Asian Development Bank	2.450%	1/17/24	AUD	1,800		1,300
	Asian Development Bank	2.650%	1/11/23	AUD	1,500		1,079
	Asian Development Bank	2.750%	1/19/22	AUD	5,900		4,197
	Asian Development Bank	3.000%	1/17/23	NZD	10,000		6,747
	Asian Development Bank	3.000%	10/14/26	AUD	1,825		1,387
	Asian Development Bank	3.300%	8/8/28	AUD	2,600		2,040
	Asian Development Bank	3.400%	9/10/27	AUD	2,700		2,117
	Asian Development Bank	3.500%	5/30/24	NZD	20,000		13,993
	Asian Development Bank	3.750%	3/12/25	AUD	11,230		8,703
	Asian Development Bank	4.500%	9/5/23	AUD	1,250		965
	Asian Development Bank	4.650%	2/16/27	CAD	2,792		2,493
	Asian Development Bank	5.000%	3/9/22	AUD	15,500		11,618
	Corp. Andina de Fomento	0.500%	1/25/22	EUR	4,780		5,378
	Corp. Andina de Fomento	0.500%	2/26/26	CHF	3,000		3,065
	Corp. Andina de Fomento	0.750%	6/13/23	EUR	5,000		5,678
	Corp. Andina de Fomento	1.125%	2/13/25	EUR	15,000		17,375
	Corp. Andina de Fomento	4.500%	9/14/27	AUD	1,600		1,259
	Council Of Europe Development Bank	0.125%	5/25/23	EUR	10,000		11,381
	Council Of Europe Development Bank	0.375%	6/8/26	EUR	17,000		19,767
	Council Of Europe Development Bank	2.875%	8/31/21	EUR	23,000		27,242
	Eurofima	2.600%	1/13/27	AUD	24,820		18,104
	Eurofima	3.000%	5/22/24	CHF	5,000		5,867
	Eurofima	3.000%	5/15/26	CHF	6,500		8,032
	Eurofima	3.375%	12/29/20	CHF	4,000		4,243
	Eurofima	3.900%	12/19/25	AUD	1,000		781
	Eurofima	4.000%	10/27/21	EUR	5,000		6,064
	Eurofima	4.550%	3/30/27	CAD	655		564
	European Bank for Reconstruction & Development	0.000%	10/17/24	EUR	10,000		11,346
	European Bank for Reconstruction & Development	1.250%	12/15/22	GBP	10,000		13,139
	European Bank for Reconstruction & Development	5.625%	12/7/28	GBP	1,000		1,831
	European Financial Stability Facility	0.000%	3/29/21	EUR	48,700		54,670

98

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	European Financial Stability Facility	0.000%	11/17/22	EUR	65,000		73,430
	European Financial Stability Facility	0.000%	4/19/24	EUR	40,000		45,330
	European Financial Stability Facility	0.100%	1/19/21	EUR	20,000		22,459
	European Financial Stability Facility	0.125%	10/17/23	EUR	15,300		17,415
	European Financial Stability Facility	0.200%	1/17/24	EUR	1,900		2,171
4	European Financial Stability Facility	0.200%	4/28/25	EUR	3,000		3,441
	European Financial Stability Facility	0.400%	2/17/25	EUR	30,000		34,749
4	European Financial Stability Facility	0.400%	5/31/26	EUR	55,000		64,035
4	European Financial Stability Facility	0.500%	1/20/23	EUR	37,000		42,497
	European Financial Stability Facility	0.500%	7/11/25	EUR	5,000		5,834
	European Financial Stability Facility	0.750%	5/3/27	EUR	31,100		37,174
	European Financial Stability Facility	0.875%	7/26/27	EUR	25,000		30,195
	European Financial Stability Facility	0.875%	4/10/35	EUR	15,000		18,359
	European Financial Stability Facility	0.950%	2/14/28	EUR	20,000		24,388
	European Financial Stability Facility	1.200%	2/17/45	EUR	36,500		48,103
	European Financial Stability Facility	1.250%	5/24/33	EUR	15,000		19,217
4	European Financial Stability Facility	1.375%	6/7/21	EUR	32,000		36,752
	European Financial Stability Facility	1.375%	5/31/47	EUR	18,365		25,237
	European Financial Stability Facility	1.450%	9/5/40	EUR	5,000		6,773
	European Financial Stability Facility	1.700%	2/13/43	EUR	36,600		52,515
4	European Financial Stability Facility	1.750%	6/27/24	EUR	17,000		20,828
	European Financial Stability Facility	1.750%	7/17/53	EUR	14,500		21,599
	European Financial Stability Facility	1.800%	7/10/48	EUR	45,450		68,064
4	European Financial Stability Facility	1.875%	5/23/23	EUR	36,000		43,434
	European Financial Stability Facility	2.000%	2/28/56	EUR	30,780		49,376
4	European Financial Stability Facility	2.125%	2/19/24	EUR	19,500		24,110
4	European Financial Stability Facility	2.250%	9/5/22	EUR	48,250		58,009
4	European Financial Stability Facility	2.350%	7/29/44	EUR	13,600		21,952
4	European Financial Stability Facility	2.750%	12/3/29	EUR	5,500		7,884
4	European Financial Stability Facility	3.000%	9/4/34	EUR	5,200		8,188
4	European Financial Stability Facility	3.375%	7/5/21	EUR	6,675		7,932
4	European Financial Stability Facility	3.375%	4/3/37	EUR	30,800		52,251
4	European Financial Stability Facility	3.875%	3/30/32	EUR	20,000		32,861
	European Investment Bank	0.000%	10/16/23	EUR	30,000		34,035
	European Investment Bank	0.000%	3/15/24	EUR	135,000		153,194
	European Investment Bank	0.000%	3/13/26	EUR	10,000		11,378
	European Investment Bank	0.000%	12/7/28	GBP	2,600		3,067
	European Investment Bank	0.050%	12/15/23	EUR	25,000		28,445
	European Investment Bank	0.050%	5/24/24	EUR	20,000		22,764
	European Investment Bank	0.100%	10/15/26	EUR	19,900		22,780
	European Investment Bank	0.125%	4/15/25	EUR	30,000		34,348
	European Investment Bank	0.125%	6/20/29	EUR	30,000		34,285
	European Investment Bank	0.200%	7/15/24	EUR	40,000		45,845
	European Investment Bank	0.375%	3/15/22	EUR	25,000		28,462
	European Investment Bank	0.375%	7/16/25	EUR	20,000		23,235
	European Investment Bank	0.375%	4/14/26	EUR	10,000		11,644
	European Investment Bank	0.500%	11/15/23	EUR	20,000		23,215
	European Investment Bank	0.500%	1/15/27	EUR	53,700		63,309
	European Investment Bank	0.500%	11/13/37	EUR	15,000		17,495
	European Investment Bank	0.625%	1/22/29	EUR	30,000		35,877
	European Investment Bank	0.750%	11/15/24	GBP	1,000		1,293
	European Investment Bank	0.875%	3/15/21	GBP	20,000		25,941
	European Investment Bank	0.875%	12/15/23	GBP	31,050		40,334
	European Investment Bank	0.875%	9/13/24	EUR	33,000		39,072

99

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	European Investment Bank	0.875%	1/14/28	EUR	23,000		27,966
	European Investment Bank	1.000%	9/21/26	GBP	3,200		4,191
	European Investment Bank	1.000%	3/14/31	EUR	68,000		84,551
	European Investment Bank	1.000%	4/14/32	EUR	32,000		39,915
	European Investment Bank	1.125%	9/7/21	GBP	5,000		6,518
2	European Investment Bank	1.125%	9/16/21	CAD	13,340		10,019
	European Investment Bank	1.125%	11/15/32	EUR	20,000		25,365
	European Investment Bank	1.125%	4/13/33	EUR	30,000		38,081
	European Investment Bank	1.125%	9/15/36	EUR	33,000		42,300
2	European Investment Bank	1.250%	11/5/20	CAD	3,500		2,643
	European Investment Bank	1.250%	11/5/20	CAD	650		491
	European Investment Bank	1.250%	11/13/26	EUR	6,000		7,458
	European Investment Bank	1.375%	9/15/21	EUR	35,000		40,394
	European Investment Bank	1.375%	5/12/28	SEK	75,000		8,369
	European Investment Bank	1.500%	4/15/21	EUR	43,000		49,351
	European Investment Bank	1.500%	8/2/24	CHF	11,400		12,722
	European Investment Bank	1.500%	11/15/47	EUR	5,000		7,136
	European Investment Bank	1.500%	10/16/48	EUR	12,975		18,534
	European Investment Bank	1.625%	3/15/23	EUR	56,150		67,014
	European Investment Bank	1.625%	2/4/25	CHF	2,500		2,828
	European Investment Bank	1.750%	9/15/45	EUR	20,000		29,531
	European Investment Bank	2.125%	1/15/24	EUR	17,000		20,978
	European Investment Bank	2.250%	5/25/21	PLN	10,000		2,646
2	European Investment Bank	2.250%	7/30/21	CAD	26,015		19,929
	European Investment Bank	2.250%	10/14/22	EUR	27,000		32,561
2	European Investment Bank	2.375%	1/18/23	CAD	2,800		2,166
	European Investment Bank	2.375%	7/6/23	CAD	300		233
	European Investment Bank	2.500%	10/31/22	GBP	5,500		7,491
	European Investment Bank	2.625%	3/15/35	EUR	7,100		10,855
	European Investment Bank	2.700%	1/12/23	AUD	3,100		2,237
	European Investment Bank	2.750%	9/15/21	EUR	5,000		5,917
	European Investment Bank	2.750%	9/15/25	EUR	40,000		52,745
	European Investment Bank	2.750%	8/25/26	PLN	10,000		2,737
	European Investment Bank	2.750%	9/13/30	EUR	30,000		43,600
	European Investment Bank	2.750%	3/15/40	EUR	18,550		30,471
	European Investment Bank	3.000%	9/28/22	EUR	4,000		4,918
	European Investment Bank	3.000%	10/14/33	EUR	10,000		15,610
	European Investment Bank	3.100%	8/17/26	AUD	23,513		17,931
	European Investment Bank	3.125%	6/30/36	CHF	1,000		1,544
	European Investment Bank	3.300%	2/3/28	AUD	3,250		2,543
	European Investment Bank	3.500%	4/15/27	EUR	5,000		7,184
	European Investment Bank	3.625%	3/14/42	EUR	5,600		10,635
	European Investment Bank	3.750%	12/7/27	GBP	3,800		6,023
	European Investment Bank	3.875%	6/8/37	GBP	4,800		8,740
	European Investment Bank	4.000%	4/15/30	EUR	7,125		11,359
	European Investment Bank	4.500%	10/15/25	EUR	15,000		21,676
	European Investment Bank	4.500%	6/7/29	GBP	12,000		20,556
	European Investment Bank	4.500%	3/7/44	GBP	8,500		18,256
	European Investment Bank	4.625%	10/12/54	GBP	7,700		19,046
	European Investment Bank	4.750%	8/7/24	AUD	3,250		2,597
	European Investment Bank	5.000%	12/1/20	SEK	25,000		2,723
	European Investment Bank	5.000%	8/22/22	AUD	10,300		7,847
	European Investment Bank	5.000%	4/15/39	GBP	7,000		14,906
	European Investment Bank	5.500%	4/15/25	GBP	10,000		16,151

100

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
European Investment Bank	6.000%	12/7/28	GBP	16,000		29,698
European Investment Bank	6.250%	6/8/21	AUD	15,500		11,541
European Stability Mechanism	0.000%	1/17/22	EUR	1,700		1,915
European Stability Mechanism	0.000%	10/18/22	EUR	55,000		62,140
European Stability Mechanism	0.100%	11/3/20	EUR	10,000		11,216
European Stability Mechanism	0.100%	7/31/23	EUR	41,000		46,590
European Stability Mechanism	0.125%	4/22/24	EUR	64,000		72,871
European Stability Mechanism	0.500%	3/2/26	EUR	21,700		25,414
European Stability Mechanism	0.500%	3/5/29	EUR	42,000		49,634
European Stability Mechanism	0.750%	3/15/27	EUR	25,000		29,943
European Stability Mechanism	0.750%	9/5/28	EUR	20,000		24,112
European Stability Mechanism	1.000%	9/23/25	EUR	40,000		48,067
European Stability Mechanism	1.125%	5/3/32	EUR	15,000		18,985
European Stability Mechanism	1.200%	5/23/33	EUR	30,000		38,455
European Stability Mechanism	1.375%	3/4/21	EUR	37,800		43,197
European Stability Mechanism	1.625%	11/17/36	EUR	39,950		54,814
European Stability Mechanism	1.750%	10/20/45	EUR	10,000		14,824
European Stability Mechanism	1.800%	11/2/46	EUR	15,000		22,535
European Stability Mechanism	1.850%	12/1/55	EUR	15,000		23,423
European Stability Mechanism	2.125%	11/20/23	EUR	3,220		3,964
European Union	0.500%	4/4/25	EUR	50,000		58,377
European Union	0.625%	11/4/23	EUR	27,000		31,420
European Union	0.750%	4/4/31	EUR	20,000		24,236
European Union	1.125%	4/4/36	EUR	20,000		25,502
European Union	1.250%	4/4/33	EUR	25,000		32,158
European Union	1.375%	10/4/29	EUR	16,000		20,436
European Union	2.500%	11/4/27	EUR	19,000		25,840
European Union	2.750%	9/21/21	EUR	5,000		5,920
European Union	2.750%	4/4/22	EUR	30,600		36,811
European Union	2.875%	4/4/28	EUR	5,000		7,033
European Union	3.000%	9/4/26	EUR	7,125		9,749
European Union	3.375%	4/4/38	EUR	16,000		27,666
European Union	3.500%	6/4/21	EUR	22,800		27,047
European Union	3.750%	4/4/42	EUR	10,000		19,183
Inter-American Development Bank	0.625%	12/15/21	GBP	2,000		2,582
Inter-American Development Bank	1.250%	12/15/25	GBP	6,000		7,994
Inter-American Development Bank	1.375%	12/15/24	GBP	5,000		6,670
Inter-American Development Bank	1.700%	10/10/24	CAD	12,380		9,317
Inter-American Development Bank	2.750%	10/30/25	AUD	4,400		3,268
Inter-American Development Bank	3.750%	7/25/22	AUD	23,800		17,533
Inter-American Development Bank	4.250%	6/11/26	AUD	1,300		1,056
Inter-American Development Bank	4.400%	1/26/26	CAD	50		43
Inter-American Development Bank	4.750%	8/27/24	AUD	4,050		3,241
Inter-American Development Bank	6.000%	2/26/21	AUD	20,000		14,651
International Bank for Reconstruction & Development	0.250%	1/10/50	EUR	5,000		5,149
International Bank for Reconstruction & Development	0.375%	6/15/21	GBP	500		643
International Bank for Reconstruction & Development	0.500%	4/16/30	EUR	5,400		6,373
International Bank for Reconstruction & Development	0.625%	11/22/27	EUR	11,000		13,091
International Bank for Reconstruction & Development	0.625%	1/12/33	EUR	19,000		22,642

101

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
International Bank for Reconstruction & Development	0.750%	12/7/21	GBP	3,600		4,661
International Bank for Reconstruction & Development	0.875%	12/13/24	GBP	6,000		7,806
International Bank for Reconstruction & Development	1.200%	8/8/34	EUR	9,646		12,366
International Bank for Reconstruction & Development	1.375%	12/15/20	GBP	32,400		42,238
International Bank for Reconstruction & Development	1.800%	7/26/24	CAD	11,580		8,790
International Bank for Reconstruction & Development	1.950%	9/20/29	CAD	1,805		1,372
International Bank for Reconstruction & Development	2.200%	1/18/22	CAD	13,410		10,284
International Bank for Reconstruction & Development	2.200%	2/27/24	AUD	5,600		4,011
International Bank for Reconstruction & Development	2.250%	1/17/23	CAD	5,400		4,164
International Bank for Reconstruction & Development	2.500%	8/3/23	CAD	1,060		826
International Bank for Reconstruction & Development	2.600%	9/20/22	AUD	12,000		8,605
International Bank for Reconstruction & Development	2.800%	1/13/21	AUD	11,000		7,733
International Bank for Reconstruction & Development	2.800%	1/12/22	AUD	22,400		15,987
International Bank for Reconstruction & Development	2.900%	11/26/25	AUD	10,400		7,804
International Bank for Reconstruction & Development	3.000%	2/2/23	NZD	10,000		6,754
International Bank for Reconstruction & Development	3.000%	10/19/26	AUD	12,300		9,346
International Bank for Reconstruction & Development	3.300%	8/14/28	AUD	1,800		1,417
International Bank for Reconstruction & Development	3.375%	1/25/22	NZD	12,000		8,050
International Bank for Reconstruction & Development	4.250%	6/24/25	AUD	12,600		10,053
International Bank for Reconstruction & Development	4.625%	10/6/21	NZD	5,804		3,959
International Bank for Reconstruction & Development	4.875%	12/7/28	GBP	400		699
International Bank for Reconstruction & Development	5.000%	3/7/22	AUD	4,000		3,001
International Bank for Reconstruction & Development	5.400%	6/7/21	GBP	200		277
International Bank for Reconstruction & Development	5.750%	6/7/32	GBP	6,000		12,141
International Finance Corp.	1.250%	12/15/23	GBP	13,800		18,237
International Finance Corp.	1.375%	9/13/24	CAD	3,365		2,508
International Finance Corp.	1.375%	3/7/25	GBP	9,821		13,111
International Finance Corp.	2.375%	7/19/23	CAD	1,920		1,490
International Finance Corp.	2.700%	2/5/21	AUD	18,300		12,861
International Finance Corp.	2.800%	8/15/22	AUD	22,300		16,052

102

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	International Finance Corp.	3.150%	6/26/29	AUD	2,300		1,804
	International Finance Corp.	3.200%	7/22/26	AUD	3,800		2,912
	International Finance Corp.	3.200%	10/18/27	AUD	1,200		930
	International Finance Corp.	4.000%	4/3/25	AUD	1,500		1,177
	International Finance Corp.	4.250%	8/21/23	AUD	12,000		9,191
	Nordic Investment Bank	0.125%	6/10/24	EUR	10,000		11,466
	Nordic Investment Bank	0.500%	11/3/25	EUR	19,600		22,970
	Nordic Investment Bank	0.625%	11/2/21	GBP	1,700		2,194
	Nordic Investment Bank	1.125%	3/16/22	GBP	15,000		19,599
	Nordic Investment Bank	4.750%	2/28/24	AUD	5,240		4,131
	Nordic Investment Bank	5.000%	4/19/22	AUD	11,500		8,650
Total Supranational (Cost $4,329,426)							4,490,205
Sweden (1.3%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.6%)
	Danske Hypotek AB	1.000%	12/15/21	SEK	500,000		52,707
	Lansforsakringar Hypotek AB	0.250%	4/22/22	EUR	1,500		1,697
	Lansforsakringar Hypotek AB	0.375%	3/14/24	EUR	1,400		1,603
	Lansforsakringar Hypotek AB	1.500%	3/18/21	EUR	200		229
	Nordea Hypotek AB	1.000%	4/8/22	SEK	538,000		56,841
	Nordea Hypotek AB	1.250%	5/19/21	SEK	500,000		52,662
	Nordea Hypotek AB	1.250%	9/20/23	SEK	500,000		53,740
	Skandinaviska Enskilda Banken AB	0.250%	6/20/24	EUR	25,000		28,543
	Skandinaviska Enskilda Banken AB	0.750%	6/16/22	EUR	5,000		5,738
	Skandinaviska Enskilda Banken AB	0.750%	11/15/27	EUR	1,100		1,306
	Skandinaviska Enskilda Banken AB	1.000%	12/18/24	SEK	48,000		5,110
	Skandinaviska Enskilda Banken AB	1.500%	12/15/21	SEK	665,000		70,583
	Skandinaviska Enskilda Banken AB	1.625%	11/4/20	EUR	5,000		5,688
	Skandinaviska Enskilda Banken AB	4.125%	4/7/21	EUR	5,000		5,935
	Stadshypotek AB	0.050%	6/20/22	EUR	4,800		5,408
	Stadshypotek AB	0.125%	10/5/26	EUR	500		567
	Stadshypotek AB	0.375%	2/22/23	EUR	8,700		9,925
	Stadshypotek AB	0.375%	2/21/24	EUR	6,900		7,909
	Stadshypotek AB	0.375%	3/13/26	EUR	5,000		5,756
	Stadshypotek AB	0.500%	7/11/25	EUR	3,000		3,477
	Stadshypotek AB	0.625%	11/10/21	EUR	22,700		25,825
	Stadshypotek AB	0.750%	11/1/27	EUR	7,000		8,312
	Stadshypotek AB	1.500%	12/15/21	SEK	280,000		29,825
	Stadshypotek AB	1.500%	6/1/23	SEK	580,000		62,785
	Stadshypotek AB	1.500%	3/1/24	SEK	350,000		38,139
	Stadshypotek AB	1.500%	12/3/24	SEK	222,000		24,309
	Sveriges Sakerstallda Obligationer AB	0.250%	4/19/23	EUR	5,000		5,681
	Sveriges Sakerstallda Obligationer AB	0.500%	1/29/25	EUR	11,000		12,723
	Sveriges Sakerstallda Obligationer AB	0.625%	10/7/21	EUR	31,300		35,579
	Sveriges Sakerstallda Obligationer AB	0.625%	10/30/25	EUR	5,000		5,840
	Sveriges Sakerstallda Obligationer AB	0.875%	3/29/27	EUR	800		956
	Sveriges Sakerstallda Obligationer AB	1.000%	3/17/21	SEK	400,000		41,945
	Swedbank Hypotek AB	0.375%	3/11/22	EUR	5,000		5,673
	Swedbank Hypotek AB	0.400%	5/8/24	EUR	5,000		5,743
	Swedbank Hypotek AB	1.000%	6/15/22	SEK	332,000		35,094
	Swedbank Hypotek AB	1.000%	12/20/23	SEK	400,000		42,640
	Swedbank Hypotek AB	1.000%	9/18/24	SEK	95,000		10,141
	Swedbank Hypotek AB	1.125%	5/21/21	EUR	2,000		2,282
							768,916

103

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Corporate Bonds (0.3%)
	Akelius Residential Property AB	1.125%	3/14/24	EUR	2,900		3,314
	Akelius Residential Property AB	1.750%	2/7/25	EUR	1,500		1,755
	Alfa Laval Treasury International AB	1.375%	9/12/22	EUR	400		462
	Atlas Copco AB	0.625%	8/30/26	EUR	430		492
	Atlas Copco AB	2.500%	2/28/23	EUR	4,500		5,452
	Danske Hypotek AB	1.000%	12/21/22	SEK	200,000		21,229
	Essity AB	1.125%	3/27/24	EUR	1,700		1,969
	Essity AB	1.625%	3/30/27	EUR	1,600		1,937
	Fastighets AB Balder	1.125%	3/14/22	EUR	10,000		11,369
	Fastighets AB Balder	1.875%	1/23/26	EUR	3,000		3,477
	Heimstaden Bostad AB	1.750%	12/7/21	EUR	4,000		4,589
	Investor AB	4.500%	5/12/23	EUR	2,000		2,586
	Lansforsakringar Bank AB	0.875%	9/25/23	EUR	100		115
	Lansforsakringar Hypotek AB	0.250%	4/12/23	EUR	500		568
	Lansforsakringar Hypotek AB	1.250%	9/20/23	SEK	550,000		59,184
	Lansforsakringar Hypotek AB	1.500%	9/18/24	SEK	160,000		17,476
	Molnlycke Holding AB	1.875%	2/28/25	EUR	5,000		5,953
	Samhallsbyggnadsbolaget i Norden AB	1.750%	1/14/25	EUR	6,000		6,909
	Securitas AB	2.625%	2/22/21	EUR	3,000		3,464
	Skandinaviska Enskilda Banken AB	0.150%	2/11/21	EUR	1,000		1,123
	Skandinaviska Enskilda Banken AB	0.375%	2/9/26	EUR	20,000		23,042
	Skandinaviska Enskilda Banken AB	0.750%	8/24/21	EUR	9,000		10,204
	Skandinaviska Enskilda Banken AB	1.000%	12/20/23	SEK	200,000		21,326
1	Skandinaviska Enskilda Banken AB	1.375%	10/31/28	EUR	31,575		36,230
	Skandinaviska Enskilda Banken AB	2.000%	2/19/21	EUR	5,000		5,736
1	Skandinaviska Enskilda Banken AB	2.500%	5/28/26	EUR	14,700		16,960
	SKF AB	1.625%	12/2/22	EUR	700		817
	Svenska Handelsbanken AB	0.250%	2/28/22	EUR	500		562
	Svenska Handelsbanken AB	1.125%	12/14/22	EUR	14,000		16,188
1	Svenska Handelsbanken AB	1.250%	3/2/28	EUR	5,000		5,729
	Svenska Handelsbanken AB	1.625%	6/18/22	GBP	9,000		11,820
	Svenska Handelsbanken AB	3.000%	11/20/20	GBP	4,100		5,420
	Svenska Handelsbanken AB	4.375%	10/20/21	EUR	1,380		1,677
	Sveriges Sakerstallda Obligationer AB	0.250%	1/20/21	EUR	8,000		8,989
	Swedbank AB	0.300%	9/6/22	EUR	17,100		19,216
	Swedbank AB	0.400%	8/29/23	EUR	5,100		5,754
	Swedbank AB	1.000%	6/1/22	EUR	4,700		5,382
1	Swedbank AB	1.000%	11/22/27	EUR	5,900		6,630
	Swedbank AB	1.250%	12/29/21	GBP	1,000		1,294
	Swedbank AB	1.625%	12/28/22	GBP	5,700		7,445
	Swedbank Hypotek AB	0.500%	2/5/26	EUR	10,000		11,602
	Swedbank Hypotek AB	1.000%	12/16/20	SEK	550,000		57,459
	Tele2 AB	1.125%	5/15/24	EUR	200		231
	Tele2 AB	2.125%	5/15/28	EUR	6,200		7,605
	Telia Co. AB	1.625%	2/23/35	EUR	200		238
	Telia Co. AB	2.125%	2/20/34	EUR	15,100		18,988
	Telia Co. AB	3.000%	9/7/27	EUR	100		133
1	Telia Co. AB	3.000%	4/4/78	EUR	100		118
	Telia Co. AB	3.500%	9/5/33	EUR	3,000		4,345
	Telia Co. AB	3.625%	2/14/24	EUR	100		129
	Telia Co. AB	3.875%	10/1/25	EUR	2,000		2,699
	Telia Co. AB	4.000%	3/22/22	EUR	350		428
	Telia Co. AB	4.750%	11/16/21	EUR	3,000		3,676
							471,495

104

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
Sovereign Bonds (0.4%)
	Kingdom of Sweden	0.125%	4/24/23	EUR	30,000		34,150
	Kingdom of Sweden	0.750%	5/12/28	SEK	7,000		786
2	Kingdom of Sweden	0.750%	11/12/29	SEK	389,000		43,844
	Kingdom of Sweden	1.000%	11/12/26	SEK	345,700		39,056
2	Kingdom of Sweden	1.500%	11/13/23	SEK	924,200		103,059
	Kingdom of Sweden	2.250%	6/1/32	SEK	175,000		23,297
	Kingdom of Sweden	2.500%	5/12/25	SEK	129,300		15,521
	Kingdom of Sweden	3.500%	6/1/22	SEK	290,750		33,172
	Kingdom of Sweden	3.500%	3/30/39	SEK	231,450		38,943
	Kingdom of Sweden	5.000%	12/1/20	SEK	216,000		23,670
	Kommuninvest I Sverige AB	1.000%	9/15/21	SEK	300,000		31,621
	Kommuninvest I Sverige AB	1.000%	11/13/23	SEK	570,000		61,165
	Kommuninvest I Sverige AB	1.000%	5/12/25	SEK	194,050		20,866
	Kommuninvest I Sverige AB	1.000%	11/12/26	SEK	600,000		64,434
	Kommuninvest I Sverige AB	2.500%	12/1/20	SEK	25,000		2,665
	SBAB Bank AB	0.250%	9/7/22	EUR	5,000		5,623
	Stockholms Lans Landsting	0.750%	2/26/25	EUR	5,000		5,866
	Svensk Exportkredit AB	0.625%	12/7/20	GBP	1,000		1,291
	Vattenfall AB	6.250%	3/17/21	EUR	8,000		9,701
	Vattenfall AB	6.875%	4/15/39	GBP	5,000		11,209
							569,939
Total Sweden (Cost $1,906,293)							1,810,350
Switzerland (1.4%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.5%)
	Credit Suisse AG	1.750%	1/15/21	EUR	47,600		54,410
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.000%	7/5/22	CHF	17,500		17,970
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.125%	3/25/24	CHF	5,000		5,183
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.125%	9/6/28	CHF	13,000		13,472
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.125%	7/15/31	CHF	9,250		9,473
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.250%	1/18/27	CHF	10,000		10,486
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.375%	10/15/25	CHF	5,000		5,279
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.375%	1/26/26	CHF	8,000		8,443
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.375%	5/12/27	CHF	25,000		26,516
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.375%	7/10/28	CHF	5,000		5,292
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.375%	7/8/39	CHF	8,300		8,649
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.500%	1/22/29	CHF	9,900		10,627
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.500%	6/15/29	CHF	15,000		16,088
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.500%	10/5/35	CHF	5,000		5,343

105

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.625%	5/16/31	CHF	3,500		3,801
Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.625%	4/25/33	CHF	5,000		5,437
Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.625%	1/23/37	CHF	4,000		4,379
Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.875%	5/7/35	CHF	2,000		2,252
Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.875%	6/19/43	CHF	5,500		6,383
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.000%	8/13/21	CHF	29,000		30,218
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.000%	5/21/24	CHF	10,600		11,439
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.000%	5/12/32	CHF	7,500		8,521
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.250%	9/29/23	CHF	6,980		7,542
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.375%	8/15/22	CHF	7,500		8,000
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.375%	2/14/24	CHF	8,000		8,728
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.375%	9/20/29	CHF	2,000		2,326
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.500%	8/2/33	CHF	17,500		21,172
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.500%	12/5/40	CHF	5,000		6,406
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.625%	3/15/22	CHF	2,000		2,131
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.625%	7/3/30	CHF	2,000		2,395
Pfandbriefbank schweizerischer Hypothekarinstitute AG	1.875%	9/15/31	CHF	10,500		12,998
Pfandbriefbank schweizerischer Hypothekarinstitute AG	2.125%	6/28/23	CHF	61,000		67,648
Pfandbriefbank schweizerischer Hypothekarinstitute AG	2.250%	8/13/32	CHF	10,200		13,254
Pfandbriefbank schweizerischer Hypothekarinstitute AG	2.375%	1/25/24	CHF	3,500		3,967
Pfandbriefbank schweizerischer Hypothekarinstitute AG	2.500%	3/30/26	CHF	11,900		14,238
Pfandbriefbank schweizerischer Hypothekarinstitute AG	2.500%	2/16/27	CHF	2,000		2,436
Pfandbriefbank schweizerischer Hypothekarinstitute AG	2.750%	12/15/26	CHF	3,000		3,694
Pfandbriefbank schweizerischer Hypothekarinstitute AG	2.875%	2/14/22	CHF	3,000		3,279
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.000%	7/25/23	CHF	17,000		17,524
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.000%	6/14/24	CHF	32,500		33,533
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.050%	11/6/26	CHF	10,000		10,347

106

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.125%	3/12/24	CHF	15,000		15,541
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.125%	12/2/24	CHF	15,000		15,580
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.125%	9/2/31	CHF	7,000		7,179
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.250%	12/1/25	CHF	14,350		15,034
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.250%	2/11/28	CHF	985		1,033
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.300%	6/6/31	CHF	7,500		7,846
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.375%	8/30/23	CHF	7,500		7,839
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.500%	7/28/25	CHF	5,000		5,308
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.500%	4/30/30	CHF	5,000		5,362
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.500%	9/20/30	CHF	17,500		18,733
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.600%	12/11/35	CHF	3,000		3,253
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.650%	2/15/33	CHF	10,000		10,915
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.750%	4/15/24	CHF	1,000		1,065
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.750%	9/23/24	CHF	2,200		2,352
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.875%	4/16/21	CHF	2,000		2,071
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.875%	6/20/22	CHF	18,000		18,900
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	1.000%	2/17/21	CHF	7,000		7,238
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	1.000%	9/9/22	CHF	8,500		8,987
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	1.000%	9/22/28	CHF	5,000		5,588
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	1.125%	4/28/23	CHF	6,675		7,137
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	1.250%	2/3/22	CHF	4,000		4,219
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	1.375%	3/19/27	CHF	8,000		9,065
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	1.375%	11/5/27	CHF	3,000		3,430
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	1.500%	5/21/29	CHF	1,000		1,170
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	1.625%	6/17/26	CHF	7,000		7,998
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	2.000%	10/30/25	CHF	3,000		3,469

107

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Pfandbriefzentrale der schweizerischen Kantonalbanken AG	2.250%	6/16/23	CHF	10,500		11,688
	UBS AG	1.375%	4/16/21	EUR	5,000		5,713
							724,992
Corporate Bonds (0.4%)
	ABB Ltd.	2.250%	10/11/21	CHF	2,000		2,132
	Adecco International Financial Services BV	1.000%	12/2/24	EUR	1,000		1,168
1	Aquarius and Investments plc for Zurich Insurance Co. Ltd.	4.250%	10/2/43	EUR	10,910		13,869
1	Argentum Netherlands BV for Zurich Insurance Co. Ltd.	2.750%	2/19/49	EUR	3,000		3,717
	Barry Callebaut Services NV	2.375%	5/24/24	EUR	3,600		4,363
	Cloverie plc for Zurich Insurance Co. Ltd.	1.750%	9/16/24	EUR	5,400		6,502
	Coca-Cola HBC Finance BV	1.875%	11/11/24	EUR	200		242
	Credit Suisse AG	1.000%	6/7/23	EUR	10,000		11,539
	Credit Suisse AG	1.375%	1/31/22	EUR	15,748		18,144
	Credit Suisse AG	1.500%	4/10/26	EUR	800		965
	Credit Suisse Group AG	0.650%	9/10/29	EUR	5,000		5,516
1	Credit Suisse Group AG	1.000%	6/24/27	EUR	15,000		17,185
1	Credit Suisse Group AG	2.125%	9/12/25	GBP	4,400		5,778
	Credit Suisse Group Funding Guernsey Ltd.	1.000%	4/14/23	CHF	10,000		10,459
	Credit Suisse Group Funding Guernsey Ltd.	1.250%	4/14/22	EUR	25,600		29,411
	Credit Suisse Group Funding Guernsey Ltd.	3.000%	5/27/22	GBP	1,500		2,025
1	Demeter Investments BV for Zurich Insurance Co. Ltd.	3.500%	10/1/46	EUR	27,950		35,903
1	ELM BV for Swiss Life Insurance & Pension Group	4.500%	12/29/49	EUR	2,650		3,484
	Flughafen Zuerich AG	1.500%	4/17/23	CHF	3,000		3,230
	Glencore Finance Europe Ltd.	1.250%	3/17/21	EUR	16,098		18,175
	Glencore Finance Europe Ltd.	1.500%	10/15/26	EUR	300		340
	Glencore Finance Europe Ltd.	1.625%	1/18/22	EUR	600		687
	Glencore Finance Europe Ltd.	1.750%	3/17/25	EUR	12,300		14,230
	Glencore Finance Europe Ltd.	1.875%	9/13/23	EUR	300		351
	Glencore Finance Europe Ltd.	2.750%	4/1/21	EUR	300		344
	Glencore Finance Europe Ltd.	3.750%	4/1/26	EUR	200		257
	Glencore Finance Europe Ltd.	6.000%	4/3/22	GBP	8,000		11,436
	Holcim Finance Australia Pty Ltd.	3.500%	6/16/22	AUD	1,350		969
	Holcim Finance Luxembourg SA	1.375%	5/26/23	EUR	10,500		12,200
	Holcim Finance Luxembourg SA	2.250%	5/26/28	EUR	4,500		5,604
	Holcim Finance Luxembourg SA	3.000%	1/22/24	EUR	5,600		6,996
	Holcim Overseas Finance Ltd.	3.375%	6/10/21	CHF	2,000		2,138
	LafargeHolcim Ltd.	3.000%	11/22/22	CHF	3,000		3,326
	LafargeHolcim Sterling Finance Netherlands BV	3.000%	5/12/32	GBP	800		1,093
	LGT Bank AG	1.500%	5/10/21	CHF	1,000		1,043
	Nestle Finance International Ltd.	0.375%	1/18/24	EUR	12,000		13,664
	Nestle Finance International Ltd.	1.250%	11/2/29	EUR	3,000		3,698
	Nestle Finance International Ltd.	1.750%	9/12/22	EUR	6,100		7,186
	Nestle Finance International Ltd.	1.750%	11/2/37	EUR	6,100		8,171
	Nestle Finance International Ltd.	2.250%	11/30/23	GBP	900		1,235
	Nestle Holdings Inc.	1.750%	12/9/20	GBP	12,000		15,690
	Novartis AG	0.625%	11/13/29	CHF	2,750		2,952
	Novartis Finance SA	0.125%	9/20/23	EUR	100		113
	Novartis Finance SA	0.500%	8/14/23	EUR	5,000		5,702

108

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Novartis Finance SA	0.625%	9/20/28	EUR	100		115
	Novartis Finance SA	1.375%	8/14/30	EUR	8,100		9,893
	Novartis Finance SA	1.625%	11/9/26	EUR	5,000		6,183
	Pfandbriefbank schweizerischer Hypothekarinstitute AG	0.500%	5/5/28	CHF	8,000		8,571
	Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.550%	1/29/31	CHF	9,500		10,261
	Pfandbriefzentrale der schweizerischen Kantonalbanken AG	0.700%	3/4/39	CHF	5,000		5,554
	Richemont International Holding SA	1.000%	3/26/26	EUR	15,400		18,047
	Richemont International Holding SA	2.000%	3/26/38	EUR	15,400		20,606
	Roche Finance Europe BV	0.500%	2/27/23	EUR	9,000		10,244
	Roche Finance Europe BV	0.875%	2/25/25	EUR	600		699
	Roche Holdings Inc.	6.500%	3/4/21	EUR	16,195		19,709
1	Swiss Re Finance Luxembourg SA	2.534%	4/30/50	EUR	4,000		4,950
	UBS AG	0.125%	11/5/21	EUR	8,000		8,968
	UBS AG	1.250%	12/10/20	GBP	4,000		5,192
	UBS AG	1.250%	9/3/21	EUR	1,700		1,945
	UBS Group Funding Jersey Ltd.	1.250%	9/1/26	EUR	26,500		31,348
	UBS Group Funding Jersey Ltd.	1.500%	11/30/24	EUR	12,700		14,914
	UBS Group Funding Jersey Ltd.	1.750%	11/16/22	EUR	5,000		5,860
	UBS Group Funding Jersey Ltd.	2.125%	3/4/24	EUR	800		967
1	UBS Group Funding Switzerland AG	1.250%	4/17/25	EUR	21,000		24,410
	Willow No.2 Ireland plc for Zurich Insurance Co. Ltd.	3.375%	6/27/22	EUR	1,000		1,216
	Zurich Finance Australia Ltd.	3.477%	5/31/23	AUD	700		511
	Zurich Finance Ireland Designated Activity Co.	1.625%	6/17/39	EUR	10,000		12,253
							535,648
Sovereign Bonds (0.5%)
	Basellandschaftliche Kantonalbank	0.000%	3/23/23	CHF	6,000		6,168
	Basellandschaftliche Kantonalbank	1.750%	11/9/20	CHF	9,500		9,855
	Basler Kantonalbank	0.000%	4/11/22	CHF	5,000		5,129
	Basler Kantonalbank	0.300%	6/22/27	CHF	4,500		4,728
	Basler Kantonalbank	0.375%	8/10/23	CHF	5,300		5,526
	Basler Kantonalbank	2.500%	3/24/21	CHF	9,300		9,813
	Canton of Basel-Landschaft	1.375%	9/29/34	CHF	11,600		14,278
	Canton of Geneva Switzerland	0.400%	4/28/36	CHF	5,000	��	5,257
	Canton of Geneva Switzerland	0.600%	7/4/46	CHF	2,990		3,331
	Canton of Geneva Switzerland	1.500%	3/5/32	CHF	1,600		1,917
	Canton of Geneva Switzerland	1.625%	7/30/29	CHF	3,550		4,214
	Canton of Geneva Switzerland	2.250%	2/22/21	CHF	4,600		4,832
	Canton of Vaud	2.000%	10/24/33	CHF	8,905		11,677
	Canton of Zurich	0.000%	6/27/25	CHF	10,000		10,418
	Canton of Zurich	0.500%	12/3/20	CHF	4,595		4,720
	Canton of Zurich	1.250%	7/29/22	CHF	7,300		7,779
	Canton of Zurich	1.250%	12/3/32	CHF	3,000		3,586
	Canton of Zurich	2.000%	7/29/38	CHF	10,000		13,878
	Lunar Funding V for Swisscom AG	1.875%	9/8/21	EUR	2,000		2,308
	Luzerner Kantonalbank AG	1.125%	6/30/23	CHF	8,000		8,565
	Swiss Confederation	0.000%	6/22/29	CHF	26,000		27,806
	Swiss Confederation	0.500%	5/27/30	CHF	12,000		13,519
	Swiss Confederation	0.500%	6/27/32	CHF	14,200		16,083
	Swiss Confederation	0.500%	6/28/45	CHF	10,000		12,054

109

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Swiss Confederation	0.500%	5/24/55	CHF	6,000		7,389
	Swiss Confederation	0.500%	5/30/58	CHF	13,000		16,480
	Swiss Confederation	1.250%	6/11/24	CHF	21,200		23,498
	Swiss Confederation	1.250%	5/28/26	CHF	30,800		35,274
	Swiss Confederation	1.250%	6/27/37	CHF	35,250		45,682
	Swiss Confederation	1.500%	7/24/25	CHF	17,450		19,949
	Swiss Confederation	1.500%	4/30/42	CHF	56,100		79,409
	Swiss Confederation	2.000%	4/28/21	CHF	3,850		4,065
	Swiss Confederation	2.000%	5/25/22	CHF	49,400		53,669
	Swiss Confederation	2.000%	6/25/64	CHF	6,800		13,384
	Swiss Confederation	2.250%	7/6/20	CHF	2,500		2,588
	Swiss Confederation	2.250%	6/22/31	CHF	17,500		23,520
	Swiss Confederation	2.500%	3/8/36	CHF	6,150		9,146
	Swiss Confederation	3.250%	6/27/27	CHF	9,000		11,895
	Swiss Confederation	3.500%	4/8/33	CHF	10,600		16,469
	Swiss Confederation	4.000%	2/11/23	CHF	2,405		2,824
	Swiss Confederation	4.000%	4/8/28	CHF	400		567
	Swiss Confederation	4.000%	1/6/49	CHF	4,500		10,268
	Swisscom AG	1.750%	7/10/24	CHF	2,000		2,227
	Swisscom AG	2.625%	8/31/22	CHF	11,000		12,101
	Zuercher Kantonalbank	0.030%	2/11/22	CHF	5,000		5,130
	Zuercher Kantonalbank	0.125%	5/13/26	CHF	1,640		1,703
	Zuercher Kantonalbank	0.250%	3/31/21	CHF	20,000		20,515
	Zuercher Kantonalbank	0.250%	1/27/26	CHF	5,000		5,233
	Zuercher Kantonalbank	1.250%	1/31/22	CHF	17,000		17,935
	Zuercher Kantonalbank	2.125%	6/29/22	CHF	16,400		17,772
							666,133
Total Switzerland (Cost $1,873,015)							1,926,773
Thailand (0.8%)
Sovereign Bonds (0.8%)
	Bank of Thailand Bond	1.620%	3/12/21	THB	700,000		23,239
	Bank of Thailand Bond	1.810%	3/25/22	THB	1,700,000		56,814
	Bank of Thailand Bond	1.840%	5/27/21	THB	700,000		23,330
	Bank of Thailand Bond	2.090%	9/24/21	THB	600,000		20,121
	Kingdom of Thailand	1.450%	12/17/24	THB	425,000		14,085
	Kingdom of Thailand	1.875%	6/17/22	THB	1,700,000		56,974
	Kingdom of Thailand	2.000%	12/17/22	THB	100,000		3,371
	Kingdom of Thailand	2.125%	12/17/26	THB	1,100,000		37,916
	Kingdom of Thailand	2.400%	12/17/23	THB	2,602,000		89,535
	Kingdom of Thailand	2.550%	6/26/20	THB	998,000		33,289
	Kingdom of Thailand	2.875%	12/17/28	THB	311,050		11,459
	Kingdom of Thailand	2.875%	6/17/46	THB	1,129,525		45,811
	Kingdom of Thailand	3.300%	6/17/38	THB	455,000		18,906
	Kingdom of Thailand	3.400%	6/17/36	THB	3,221,200		133,914
	Kingdom of Thailand	3.580%	12/17/27	THB	1,077,000		41,212
	Kingdom of Thailand	3.600%	6/17/67	THB	2,092,500		98,648
	Kingdom of Thailand	3.625%	6/16/23	THB	600,000		21,409
	Kingdom of Thailand	3.650%	12/17/21	THB	2,200,000		76,309
	Kingdom of Thailand	3.650%	6/20/31	THB	1,330,000		53,642
	Kingdom of Thailand	3.775%	6/25/32	THB	1,584,000		65,549
	Kingdom of Thailand	3.800%	6/14/41	THB	150,000		6,798
	Kingdom of Thailand	3.850%	12/12/25	THB	1,250,000		47,170
	Kingdom of Thailand	4.000%	6/17/66	THB	325,000		16,562

110

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Kingdom of Thailand	4.260%	12/12/37	THB	277,000		12,320
	Kingdom of Thailand	4.675%	6/29/44	THB	751,000		38,957
	Kingdom of Thailand	4.875%	6/22/29	THB	1,740,000		74,673
	Kingdom of Thailand	5.500%	3/13/23	THB	130,000		4,880
	Kingdom of Thailand	5.670%	3/13/28	THB	120,000		5,253
Total Thailand (Cost $943,745)							1,132,146
United Arab Emirates (0.0%)
Sovereign Bonds (0.0%)
	DP World plc	2.375%	9/25/26	EUR	400		481
	DP World plc	4.250%	9/25/30	GBP	2,000		2,860
	Emirates NBD PJSC	1.750%	3/23/22	EUR	3,000		3,475
	Emirates NBD PJSC	4.750%	2/18/22	AUD	1,400		1,021
	Emirates NBD PJSC	4.750%	2/9/28	AUD	1,400		1,094
	Emirates Telecommunications Group Co. PJSC	1.750%	6/18/21	EUR	6,500		7,454
	Emirates Telecommunications Group Co. PJSC	2.750%	6/18/26	EUR	3,000		3,856
	IPIC GMTN Ltd.	3.625%	5/30/23	EUR	3,000		3,751
	IPIC GMTN Ltd.	5.875%	3/14/21	EUR	7,500		9,053
	IPIC GMTN Ltd.	6.875%	3/14/26	GBP	640		1,096
Total United Arab Emirates (Cost $34,822)							34,141
United Kingdom (7.3%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.3%)
	AA Bond Co. Ltd.	2.875%	1/31/22	GBP	6,250		7,807
	AA Bond Co. Ltd.	6.269%	7/31/25	GBP	2,000		2,681
	Arqiva Financing plc	4.882%	12/31/32	GBP	4,950		7,357
	Artesian Finance II plc	6.000%	9/30/33	GBP	1,990		3,875
	Aspire Defence Finance plc	4.674%	3/31/40	GBP	3,485		5,983
	Aspire Defence Finance plc	4.674%	3/31/40	GBP	3,753		6,466
	Bank of Scotland plc	4.500%	7/13/21	EUR	6,160		7,426
	Bank of Scotland plc	4.750%	6/8/22	EUR	1,840		2,318
	Bank of Scotland plc	4.875%	12/20/24	GBP	1,400		2,143
	Barclays Bank plc	4.000%	1/12/21	EUR	15,500		18,177
	Barclays Bank plc	4.250%	1/12/22	GBP	3,600		4,995
1	Broadgate Financing plc	4.999%	10/5/33	GBP	6,500		10,356
1	Broadgate Financing plc	5.098%	4/5/35	GBP	4,059		6,305
1	Canary Wharf Finance II plc	6.455%	10/22/33	GBP	234		384
1	Channel Link Enterprises Finance plc	3.043%	6/30/50	GBP	5,200		7,053
	Clydesdale Bank plc	4.625%	6/8/26	GBP	13,000		20,604
	Co-Operative Bank plc	4.750%	11/11/21	GBP	8,900		12,156
	Coventry Building Society	0.500%	1/12/24	EUR	900		1,028
	CTRL Section 1 Finance plc	5.234%	5/2/35	GBP	941		1,644
	Derby Healthcare plc	5.564%	6/30/41	GBP	1,156		2,077
	Greene King Finance plc	4.064%	3/15/35	GBP	1,716		2,448
	Greene King Finance plc	5.318%	9/15/31	GBP	1,010		1,545
	High Speed Rail Finance 1 plc	4.375%	11/1/38	GBP	6,700		11,392
	Highbury Finance BV	7.017%	3/20/23	GBP	600		882
	Integrated Accommodation Services plc	6.480%	3/31/29	GBP	559		902
	Intu SGS Finance plc	4.250%	9/17/30	GBP	700		777
	Juturna European Loan Conduit No. 16 plc	5.064%	8/10/33	GBP	6,430		10,589
	Leeds Building Society	4.875%	11/16/20	GBP	2,000		2,694
	Lloyds Bank plc	1.375%	4/16/21	EUR	30,800		35,172

111

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Lloyds Bank plc	1.750%	3/31/22	GBP	3,300		4,350
	Lloyds Bank plc	4.875%	1/13/23	EUR	8,200		10,634
	Lloyds Bank plc	4.875%	3/30/27	GBP	3,081		5,004
	Lloyds Bank plc	5.125%	3/7/25	GBP	15,200		23,742
	Lloyds Bank plc	6.000%	2/8/29	GBP	10,350		18,783
1	Longstone Finance plc	4.791%	4/19/36	GBP	742		1,123
	Meadowhall Finance plc	4.986%	1/12/32	GBP	2,762		4,438
1	Mitchells & Butlers Finance plc	6.013%	12/15/30	GBP	593		879
	National Westminster Bank plc	5.125%	1/13/24	GBP	500		757
	Nationwide Building Society	0.625%	3/25/27	EUR	11,790		13,731
	Nationwide Building Society	1.375%	6/29/32	EUR	16,000		20,022
	Nationwide Building Society	2.250%	6/25/29	EUR	5,000		6,684
	Nationwide Building Society	4.375%	2/28/22	EUR	17,000		20,999
	Nationwide Building Society	4.625%	2/8/21	EUR	3,100		3,673
	Nationwide Building Society	5.625%	1/28/26	GBP	1,500		2,485
	Nats En Route plc	5.250%	3/31/26	GBP	2,435		3,623
1	Octagon Healthcare Funding plc	5.333%	6/30/36	GBP	835		1,390
	RAC Bond Co. plc	4.565%	5/6/23	GBP	400		520
	RAC Bond Co. plc	4.870%	5/6/26	GBP	3,000		3,830
	Santander UK plc	0.250%	8/9/21	EUR	10,000		11,257
	Santander UK plc	0.250%	4/21/22	EUR	20,000		22,577
	Santander UK plc	1.250%	9/18/24	EUR	6,700		7,974
	Santander UK plc	1.625%	11/26/20	EUR	18,000		20,484
	Santander UK plc	5.125%	4/14/21	GBP	5,900		8,083
	Santander UK plc	5.250%	2/16/29	GBP	758		1,313
1	Santander UK plc	5.750%	3/2/26	GBP	5,855		9,782
	Telereal Secured Finance plc	4.010%	12/10/31	GBP	5,150		7,356
1	Telereal Securitisation plc	5.389%	12/10/33	GBP	2,145		3,383
	Telereal Securitisation plc	6.165%	12/10/31	GBP	907		1,492
	Tesco Property Finance 1 plc	7.623%	7/13/39	GBP	2,614		4,937
	Tesco Property Finance 2 plc	6.052%	10/13/39	GBP	3,381		5,720
	Yorkshire Building Society	1.250%	6/11/21	EUR	7,000		7,997
							456,258
Corporate Bonds (2.1%)
	3i Group plc	5.750%	12/3/32	GBP	5,000		8,508
	A2Dominion Housing Group Ltd.	3.500%	11/15/28	GBP	6,200		8,682
	ABP Finance plc	6.250%	12/14/26	GBP	4,300		6,891
	Admiral Group plc	5.500%	7/25/24	GBP	2,400		3,470
	Affinity Sutton Capital Markets plc	4.250%	10/8/42	GBP	1,500		2,602
	Affinity Water Finance 2004 plc	5.875%	7/13/26	GBP	2,150		3,583
	Affinity Water Programme Finance Ltd.	4.500%	3/31/36	GBP	4,500		7,890
	Anglian Water Services Financing plc	2.625%	6/15/27	GBP	3,600		4,664
	Anglian Water Services Financing plc	4.500%	10/5/27	GBP	2,492		3,910
	Anglian Water Services Financing plc	6.625%	1/15/29	GBP	615		1,122
	Anglian Water Services Financing plc	6.875%	8/21/23	GBP	4,300		6,763
	Annington Funding plc	1.650%	7/12/24	EUR	3,800		4,386
	Annington Funding plc	2.646%	7/12/25	GBP	1,000		1,340
	Annington Funding plc	3.685%	7/12/34	GBP	6,900		9,901
	Annington Funding plc	3.935%	7/12/47	GBP	5,800		8,687
	Aptiv plc	1.500%	3/10/25	EUR	12,022		14,144
	AstraZeneca plc	0.250%	5/12/21	EUR	1,000		1,121
	AstraZeneca plc	1.250%	5/12/28	EUR	100		119
	AstraZeneca plc	5.750%	11/13/31	GBP	5,000		9,359
	Aviva plc	0.625%	10/27/23	EUR	1,000		1,140

112

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Aviva plc	1.875%	11/13/27	EUR	4,000		4,916
1	Aviva plc	3.375%	12/4/45	EUR	6,000		7,311
1	Aviva plc	3.875%	7/3/44	EUR	2,459		3,020
1	Aviva plc	4.375%	9/12/49	GBP	4,991		6,965
1	Aviva plc	5.125%	6/4/50	GBP	2,000		2,974
1	Aviva plc	6.125%	7/5/43	EUR	2,400		3,136
1	Aviva plc	6.125%	9/29/49	GBP	4,700		6,583
1	Aviva plc	6.625%	6/3/41	GBP	2,500		3,482
1	Aviva plc	6.875%	5/20/58	GBP	8,692		15,964
	Babcock International Group plc	1.750%	10/6/22	EUR	7,800		8,963
	Babcock International Group plc	1.875%	10/5/26	GBP	4,000		5,006
	BAE Systems plc	4.125%	6/8/22	GBP	6,500		9,024
	Barclays Bank plc	2.125%	2/24/21	EUR	5,000		5,741
	Barclays Bank plc	4.250%	3/2/22	EUR	10,000		12,334
	Barclays Bank plc	6.000%	1/14/21	EUR	3,000		3,571
	Barclays Bank plc	6.625%	3/30/22	EUR	7,159		9,171
	Barclays Bank plc	10.000%	5/21/21	GBP	10,533		15,333
	Barclays plc	1.500%	4/1/22	EUR	1,600		1,848
	Barclays plc	1.500%	9/3/23	EUR	100		117
	Barclays plc	1.875%	3/23/21	EUR	200		229
	Barclays plc	3.000%	5/8/26	GBP	9,000		12,205
	Barclays plc	3.250%	2/12/27	GBP	655		904
	Barclays plc	3.250%	1/17/33	GBP	8,500		11,637
	BAT Capital Corp.	2.125%	8/15/25	GBP	1,300		1,678
	BAT International Finance plc	0.875%	10/13/23	EUR	8,615		9,739
	BAT International Finance plc	1.000%	5/23/22	EUR	700		796
	BAT International Finance plc	1.250%	3/13/27	EUR	7,850		8,735
	BAT International Finance plc	1.750%	7/5/21	GBP	2,700		3,516
	BAT International Finance plc	2.250%	1/16/30	EUR	19,000		21,811
	BAT International Finance plc	2.250%	9/9/52	GBP	3,000		2,844
	BAT International Finance plc	2.375%	1/19/23	EUR	100		119
	BAT International Finance plc	2.750%	3/25/25	EUR	6,000		7,373
	BAT International Finance plc	4.000%	9/4/26	GBP	1,500		2,148
	BAT International Finance plc	4.875%	2/24/21	EUR	5,250		6,228
	BAT International Finance plc	5.750%	7/5/40	GBP	400		677
	BAT International Finance plc	6.000%	11/24/34	GBP	8,050		13,658
	Bazalgette Finance plc	2.375%	11/29/27	GBP	1,200		1,660
	BG Energy Capital plc	1.250%	11/21/22	EUR	6,400		7,395
	BG Energy Capital plc	2.250%	11/21/29	EUR	12,311		16,015
	BG Energy Capital plc	5.000%	11/4/36	GBP	300		565
	BG Energy Capital plc	5.125%	12/1/25	GBP	13,008		20,616
	BP Capital Markets plc	0.830%	9/19/24	EUR	8,000		9,206
	BP Capital Markets plc	0.900%	7/3/24	EUR	2,000		2,312
	BP Capital Markets plc	1.077%	6/26/25	EUR	5,300		6,184
	BP Capital Markets plc	1.177%	8/12/23	GBP	3,100		4,046
	BP Capital Markets plc	1.231%	5/8/31	EUR	5,000		5,901
	BP Capital Markets plc	1.373%	3/3/22	EUR	2,700		3,113
	BP Capital Markets plc	1.526%	9/26/22	EUR	11,100		12,943
	BP Capital Markets plc	1.573%	2/16/27	EUR	26,582		32,277
	BP Capital Markets plc	1.953%	3/3/25	EUR	7,200		8,773
	BP Capital Markets plc	2.030%	2/14/25	GBP	1,300		1,750
	BP Capital Markets plc	2.177%	9/28/21	EUR	5,800		6,756
	BP Capital Markets plc	2.213%	9/25/26	EUR	13,000		16,405
	BP Capital Markets plc	2.274%	7/3/26	GBP	12,737		17,442

113

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	BP Capital Markets plc	2.972%	2/27/26	EUR	5,200		6,779
	BP Capital Markets plc	3.470%	5/15/25	CAD	2,500		1,992
	BP Capital Markets plc	3.497%	11/9/20	CAD	2,460		1,893
	BPHA Finance plc	4.816%	4/11/44	GBP	1,000		1,857
	Brambles Finance Ltd.	2.375%	6/12/24	EUR	400		490
	British Land Co. plc	2.375%	9/14/29	GBP	1,400		1,850
	British Telecommunications plc	0.625%	3/10/21	EUR	6,000		6,754
	British Telecommunications plc	0.875%	9/26/23	EUR	4,000		4,575
	British Telecommunications plc	1.000%	11/21/24	EUR	8,800		10,077
	British Telecommunications plc	1.125%	3/10/23	EUR	6,600		7,601
	British Telecommunications plc	1.500%	6/23/27	EUR	10,200		11,928
	British Telecommunications plc	1.750%	3/10/26	EUR	9,920		11,797
	British Telecommunications plc	2.125%	9/26/28	EUR	100		122
	British Telecommunications plc	3.125%	11/21/31	GBP	200		280
	British Telecommunications plc	5.750%	12/7/28	GBP	4,030		6,744
	British Telecommunications plc	6.375%	6/23/37	GBP	3,500		6,815
	BUPA Finance plc	2.000%	4/5/24	GBP	11,000		14,618
	BUPA Finance plc	3.375%	6/17/21	GBP	7,400		9,895
	BUPA Finance plc	5.000%	12/8/26	GBP	2,000		2,939
	Cadent Finance plc	0.625%	9/22/24	EUR	17,320		19,563
	Cadent Finance plc	1.125%	9/22/21	GBP	4,700		6,101
	Cadent Finance plc	2.125%	9/22/28	GBP	20,208		26,710
	Cadent Finance plc	2.625%	9/22/38	GBP	100		134
	Cadent Finance plc	2.750%	9/22/46	GBP	950		1,275
	Cadent Finance plc	3.125%	3/21/40	GBP	200		285
	Centrica plc	4.250%	9/12/44	GBP	5,450		8,544
	Centrica plc	4.375%	3/13/29	GBP	4,800		7,354
	Centrica plc	6.375%	3/10/22	GBP	1,850		2,686
	Centrica plc	7.000%	9/19/33	GBP	2,100		4,096
	Circle Anglia Social Housing plc	7.250%	11/12/38	GBP	2,650		6,086
	Clarion Funding plc	2.625%	1/18/29	GBP	1,554		2,160
	Close Brothers Finance plc	3.875%	6/27/21	GBP	3,000		4,050
	CNH Industrial Finance Europe SA	1.375%	5/23/22	EUR	200		230
	CNH Industrial Finance Europe SA	1.750%	9/12/25	EUR	9,000		10,618
	CNH Industrial Finance Europe SA	1.875%	1/19/26	EUR	1,900		2,237
	CNH Industrial Finance Europe SA	2.875%	5/17/23	EUR	7,000		8,507
	Coca-Cola European Partners plc	0.750%	2/24/22	EUR	6,000		6,813
	Coca-Cola European Partners plc	1.125%	5/26/24	EUR	5,800		6,774
	Coca-Cola European Partners plc	1.750%	5/26/28	EUR	5,200		6,416
	Coca-Cola European Partners plc	2.375%	5/7/25	EUR	3,000		3,725
	Community Finance Co. 1 plc	5.017%	7/31/34	GBP	700		1,257
	Compass Group International BV	0.625%	7/3/24	EUR	1,700		1,943
	Compass Group plc	2.000%	9/5/25	GBP	400		544
	Compass Group plc	2.000%	7/3/29	GBP	1,600		2,196
	Connect Plus M25 Issuer plc	2.607%	3/31/39	GBP	2,717		3,911
	Coventry Building Society	2.500%	11/18/20	EUR	6,546		7,496
	Coventry Building Society	5.875%	9/28/22	GBP	15,868		23,173
	CPUK Finance Ltd.	3.588%	8/28/25	GBP	3,000		4,188
	CPUK Finance Ltd.	3.690%	8/28/28	GBP	100		141
1	CPUK Finance Ltd.	7.239%	2/28/42	GBP	2,700		4,227
	Crh Finance UK plc	4.125%	12/2/29	GBP	5,700		8,768
1	CYBG plc	3.125%	6/22/25	GBP	4,800		6,116
1	CYBG plc	5.000%	2/9/26	GBP	800		1,043
	Diageo Finance plc	0.000%	11/17/20	EUR	700		783

114

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Diageo Finance plc	0.500%	6/19/24	EUR	854		974
	Diageo Finance plc	1.750%	9/23/24	EUR	200		241
	DS Smith plc	1.375%	7/26/24	EUR	400		460
	DS Smith plc	2.250%	9/16/22	EUR	100		117
	Dwr Cymru Financing Ltd.	2.500%	3/31/36	GBP	600		857
14	Dwr Cymru Financing Ltd.	6.015%	3/31/28	GBP	500		885
	Dwr Cymru Financing Ltd.	6.907%	3/31/21	GBP	567		793
	East Finance plc	5.486%	6/15/42	GBP	2,897		5,517
	Eastern Power Networks plc	4.750%	9/30/21	GBP	2,400		3,322
	Eastern Power Networks plc	5.750%	3/8/24	GBP	3,000		4,593
	Eastern Power Networks plc	6.250%	11/12/36	GBP	200		405
	easyJet plc	1.750%	2/9/23	EUR	800		929
	Electricity North West Ltd.	8.875%	3/25/26	GBP	2,000		3,717
	EMH Treasury plc	4.500%	1/29/44	GBP	394		700
	ENW Finance plc	6.125%	7/21/21	GBP	1,000		1,401
	Eversholt Funding plc	3.529%	8/7/42	GBP	1,400		1,917
	Eversholt Funding plc	5.831%	12/2/20	GBP	800		1,085
	Eversholt Funding plc	6.359%	12/2/25	GBP	500		800
	Eversholt Funding plc	6.697%	2/22/35	GBP	1,800		3,056
	Experian Finance plc	1.375%	6/25/26	EUR	400		473
	Experian Finance plc	3.500%	10/15/21	GBP	6,815		9,180
	FCE Bank plc	0.869%	9/13/21	EUR	3,800		4,230
	FCE Bank plc	1.134%	2/10/22	EUR	1,430		1,597
	FCE Bank plc	1.615%	5/11/23	EUR	400		446
	FCE Bank plc	1.875%	6/24/21	EUR	5,000		5,682
	FCE Bank plc	2.727%	6/3/22	GBP	700		920
	Fidelity International Ltd.	2.500%	11/4/26	EUR	1,457		1,758
	Fidelity International Ltd.	7.125%	2/13/24	GBP	1,300		2,059
	Firstgroup plc	5.250%	11/29/22	GBP	15,714		22,148
	Firstgroup plc	6.875%	9/18/24	GBP	2,660		4,086
	Firstgroup plc	8.750%	4/8/21	GBP	5,000		7,074
	Friends Life Holdings plc	8.250%	4/21/22	GBP	3,000		4,517
	Futures Treasury plc	3.375%	2/8/44	GBP	700		1,069
	G4S International Finance plc	1.500%	1/9/23	EUR	2,100		2,394
	G4S International Finance plc	1.500%	6/2/24	EUR	12,300		14,010
	G4S International Finance plc	1.875%	5/24/25	EUR	23,400		27,009
1	Gatwick Funding Ltd.	2.625%	10/7/48	GBP	1,200		1,535
	Gatwick Funding Ltd.	3.125%	9/28/39	GBP	4,300		6,037
	Gatwick Funding Ltd.	3.250%	2/26/48	GBP	400		574
1	Gatwick Funding Ltd.	5.250%	1/23/26	GBP	1,000		1,495
1	Gatwick Funding Ltd.	5.750%	1/23/39	GBP	500		934
1	Gatwick Funding Ltd.	6.125%	3/2/28	GBP	9,950		16,239
	Genfinance II plc	6.064%	12/21/39	GBP	5,900		11,637
	GlaxoSmithKline Capital plc	1.000%	9/12/26	EUR	500		589
	GlaxoSmithKline Capital plc	1.250%	5/21/26	EUR	15,000		17,868
	GlaxoSmithKline Capital plc	1.375%	12/2/24	EUR	350		417
	GlaxoSmithKline Capital plc	1.750%	5/21/30	EUR	10,400		13,017
	GlaxoSmithKline Capital plc	3.375%	12/20/27	GBP	3,900		5,835
	GlaxoSmithKline Capital plc	4.000%	6/16/25	EUR	1,000		1,360
	GlaxoSmithKline Capital plc	4.250%	12/18/45	GBP	600		1,096
	GlaxoSmithKline Capital plc	5.250%	12/19/33	GBP	7,339		13,641
	GlaxoSmithKline Capital plc	5.250%	4/10/42	GBP	355		713
	GlaxoSmithKline Capital plc	6.375%	3/9/39	GBP	1,145		2,486
	Global Switch Holdings Ltd.	1.500%	1/31/24	EUR	1,800		2,080

115

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Global Switch Holdings Ltd.	2.250%	5/31/27	EUR	500		601
	Global Switch Holdings Ltd.	4.375%	12/13/22	GBP	1,000		1,406
	Great Places Housing Group Ltd.	4.750%	10/22/42	GBP	3,000		5,415
	Great Rolling Stock Co. Ltd.	6.875%	7/27/35	GBP	733		1,222
	Greater Gabbard OFTO plc	4.137%	11/29/32	GBP	1,329		2,032
	Guinness Partnership Ltd.	4.000%	10/24/44	GBP	978		1,652
	Gwynt Y Mor Ofto plc	2.778%	2/17/34	GBP	2,365		3,316
	Hammerson plc	2.000%	7/1/22	EUR	7,200		8,299
	Hammerson plc	3.500%	10/27/25	GBP	300		394
	Hammerson plc	6.000%	2/23/26	GBP	4,000		5,939
	Hammerson plc	7.250%	4/21/28	GBP	5,700		9,324
	Haven Funding plc	8.125%	9/30/37	GBP	1,129		2,346
1	HBOS plc	4.500%	3/18/30	EUR	3,500		4,558
	HBOS Sterling Finance Jersey LP	7.881%	12/31/49	GBP	1,000		1,998
1	Heathrow Funding Ltd.	1.500%	2/11/32	EUR	7,100		8,452
1	Heathrow Funding Ltd.	1.875%	5/23/24	EUR	400		468
	Heathrow Funding Ltd.	1.875%	7/12/32	EUR	1,200		1,468
	Heathrow Funding Ltd.	1.875%	3/14/34	EUR	5,500		6,680
	Heathrow Funding Ltd.	2.750%	8/9/49	GBP	950		1,305
	Heathrow Funding Ltd.	3.400%	3/8/28	CAD	7,000		5,532
	Heathrow Funding Ltd.	4.625%	10/31/46	GBP	500		917
	Heathrow Funding Ltd.	5.225%	2/15/23	GBP	2,200		3,224
	Heathrow Funding Ltd.	5.875%	5/13/41	GBP	12,700		25,902
	Heathrow Funding Ltd.	6.450%	12/10/31	GBP	3,050		5,726
	Heathrow Funding Ltd.	7.125%	2/14/24	GBP	10,320		16,287
	Hiscox Ltd.	2.000%	12/14/22	GBP	700		917
1	HSBC Bank Capital Funding Sterling 1 LP	5.844%	11/29/49	GBP	250		434
	HSBC Bank plc	4.000%	1/15/21	EUR	9,500		11,123
	HSBC Bank plc	4.750%	3/24/46	GBP	100		168
1	HSBC Bank plc	5.375%	11/4/30	GBP	1,000		1,524
	HSBC Bank plc	5.375%	8/22/33	GBP	2,000		3,382
	HSBC Bank plc	6.250%	1/30/41	GBP	66		128
	HSBC Bank plc	6.500%	7/7/23	GBP	5,000		7,574
	HSBC Holdings plc	0.450%	9/24/21	JPY	500,000		4,661
	HSBC Holdings plc	0.875%	9/6/24	EUR	17,600		20,304
	HSBC Holdings plc	1.500%	3/15/22	EUR	21,200		24,497
1	HSBC Holdings plc	1.500%	12/4/24	EUR	5,300		6,240
1	HSBC Holdings plc	2.175%	6/27/23	GBP	4,100		5,395
1	HSBC Holdings plc	2.256%	11/13/26	GBP	6,000		7,931
	HSBC Holdings plc	2.625%	8/16/28	GBP	3,125		4,315
	HSBC Holdings plc	3.000%	6/30/25	EUR	26,500		33,435
1	HSBC Holdings plc	3.000%	7/22/28	GBP	20,500		28,435
1	HSBC Holdings plc	3.000%	5/29/30	GBP	3,800		5,241
	HSBC Holdings plc	3.196%	12/5/23	CAD	9,790		7,594
	HSBC Holdings plc	6.000%	3/29/40	GBP	13,250		23,900
	HSBC Holdings plc	6.750%	9/11/28	GBP	2,750		4,744
	HSBC Holdings plc	7.000%	4/7/38	GBP	6,500		12,641
	Hyde Housing Association Ltd.	5.125%	7/23/40	GBP	275		513
	Imperial Brands Finance plc	0.500%	7/27/21	EUR	500		561
	Imperial Brands Finance plc	1.375%	1/27/25	EUR	1,000		1,142
	Imperial Brands Finance plc	2.125%	2/12/27	EUR	15,500		17,989
	Imperial Brands Finance plc	2.250%	2/26/21	EUR	600		685
	Imperial Brands Finance plc	3.375%	2/26/26	EUR	600		752
	Imperial Brands Finance plc	9.000%	2/17/22	GBP	12,400		18,734

116

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Incommunities Treasury plc	3.250%	3/21/49	GBP	1,300		2,018
	Informa plc	1.500%	7/5/23	EUR	1,300		1,507
	InterContinental Hotels Group plc	3.875%	11/28/22	GBP	3,500		4,872
	International Consolidated Airlines Group SA	1.500%	7/4/27	EUR	11,300		12,491
	Intu Metrocentre Finance plc	4.125%	12/6/23	GBP	2,600		3,119
1	Intu SGS Finance plc	3.875%	3/17/28	GBP	2,700		3,204
1	Intu SGS Finance plc	4.625%	3/17/33	GBP	2,000		2,231
1	Investec Bank plc	4.250%	7/24/28	GBP	1,000		1,320
	Investec Bank plc	9.625%	2/17/22	GBP	1,000		1,499
	Investec plc	4.500%	5/5/22	GBP	4,000		5,505
	Just Group plc	3.500%	2/7/25	GBP	2,000		2,430
	Karbon Homes Ltd.	3.375%	11/15/47	GBP	5,900		9,430
	Kennedy Wilson Europe Real Estate Ltd.	3.950%	6/30/22	GBP	3,000		4,010
	Land Securities Capital Markets plc	1.974%	2/8/24	GBP	1,000		1,325
	Land Securities Capital Markets plc	2.375%	3/29/27	GBP	800		1,092
	Land Securities Capital Markets plc	2.625%	9/22/37	GBP	9,200		12,619
	Land Securities Capital Markets plc	2.750%	9/22/57	GBP	1,300		1,878
	Leeds Building Society	0.500%	7/3/24	EUR	500		572
	Leeds Building Society	1.375%	5/5/22	EUR	22,195		25,576
	Leeds Building Society	2.625%	4/1/21	EUR	14,000		16,203
1	Leeds Building Society	3.750%	4/25/29	GBP	500		662
	Legal & General Finance plc	5.875%	12/11/31	GBP	4,000		7,420
1	Legal & General Group plc	5.125%	11/14/48	GBP	1,000		1,454
1	Legal & General Group plc	5.375%	10/27/45	GBP	3,400		4,962
1	Legal & General Group plc	5.500%	6/27/64	GBP	2,800		4,298
1	Legal & General Group plc	10.000%	7/23/41	GBP	2,700		3,986
	Lendlease Europe Finance plc	6.125%	10/12/21	GBP	21,000		29,318
	Libra Longhurst Group Treasury plc	5.125%	8/2/38	GBP	1,797		3,234
1	Liverpool Victoria Friendly Society Ltd.	6.500%	5/22/43	GBP	600		868
	Lloyds Bank plc	0.125%	6/18/26	EUR	10,000		11,214
	Lloyds Bank plc	0.250%	3/25/24	EUR	8,000		9,058
	Lloyds Bank plc	0.625%	9/14/22	EUR	8,780		10,027
	Lloyds Bank plc	0.625%	3/26/25	EUR	500		578
	Lloyds Bank plc	6.500%	9/17/40	GBP	2,050		4,506
	Lloyds Bank plc	7.500%	4/15/24	GBP	10,170		16,627
	Lloyds Bank plc	7.625%	4/22/25	GBP	8,190		13,551
	Lloyds Banking Group plc	0.482%	12/14/23	JPY	1,800,000		16,514
1	Lloyds Banking Group plc	0.625%	1/15/24	EUR	2,800		3,150
	Lloyds Banking Group plc	0.650%	5/30/23	JPY	200,000		1,850
	Lloyds Banking Group plc	0.750%	11/9/21	EUR	800		907
	Lloyds Banking Group plc	0.824%	5/30/25	JPY	1,600,000		14,853
	Lloyds Banking Group plc	3.500%	2/3/25	CAD	2,600		1,994
	Lloyds Banking Group plc	3.650%	3/20/23	AUD	1,800		1,291
	Lloyds Banking Group plc	4.000%	3/7/25	AUD	11,900		8,738
	Lloyds Banking Group plc	4.250%	11/22/27	AUD	4,960		3,730
	London & Quadrant Housing Trust Ltd.	2.625%	5/5/26	GBP	2,000		2,733
	London & Quadrant Housing Trust Ltd.	2.625%	2/28/28	GBP	2,500		3,410
	London & Quadrant Housing Trust Ltd.	2.750%	7/20/57	GBP	2,000		2,597
	London & Quadrant Housing Trust Ltd.	3.750%	10/27/49	GBP	3,800		6,018
	London & Quadrant Housing Trust Ltd.	4.625%	12/5/33	GBP	500		835
	London & Quadrant Housing Trust Ltd.	5.500%	1/27/40	GBP	2,400		4,513
	London Power Networks plc	5.125%	3/31/23	GBP	3,000		4,401
	London Stock Exchange Group plc	1.750%	12/6/27	EUR	9,300		11,200
	Manchester Airport Group Funding plc	4.125%	4/2/24	GBP	2,000		2,901

117

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Manchester Airport Group Funding plc	4.750%	3/31/34	GBP	2,000		3,410
	Marks & Spencer plc	3.000%	12/8/23	GBP	1,400		1,872
	Marks & Spencer plc	3.250%	7/10/27	GBP	100		128
	Marks & Spencer plc	4.750%	6/12/25	GBP	4,610		6,542
	Martlet Homes Ltd.	3.000%	5/9/52	GBP	3,300		4,736
	Metropolitan Funding plc	4.125%	4/5/48	GBP	2,000		3,208
	Mitchells & Butlers Finance plc	5.574%	12/15/30	GBP	361		535
	Mondi Finance plc	1.500%	4/15/24	EUR	11,550		13,491
	Motability Operations Group plc	0.875%	3/14/25	EUR	7,816		9,028
	Motability Operations Group plc	1.625%	6/9/23	EUR	500		590
	Motability Operations Group plc	2.375%	3/14/32	GBP	800		1,105
	Motability Operations Group plc	2.375%	7/3/39	GBP	100		135
	Motability Operations Group plc	3.625%	3/10/36	GBP	500		795
	Motability Operations Group plc	4.375%	2/8/27	GBP	7,600		11,906
	Motability Operations Group plc	5.375%	6/28/22	GBP	1,000		1,447
	Motability Operations Group plc	5.625%	11/29/30	GBP	2,000		3,643
	Myriad Capital plc	4.750%	12/20/43	GBP	500		928
	National Express Group plc	2.500%	11/11/23	GBP	5,000		6,664
	Nationwide Building Society	0.750%	10/26/22	EUR	6,000		6,884
	Nationwide Building Society	1.250%	3/3/25	EUR	500		591
1	Nationwide Building Society	2.000%	7/25/29	EUR	21,235		24,574
	Nationwide Building Society	2.250%	4/29/22	GBP	1,500		2,003
	Nationwide Building Society	3.000%	5/6/26	GBP	17,980		25,533
	Next plc	3.625%	5/18/28	GBP	7,000		9,615
	Next plc	5.375%	10/26/21	GBP	4,000		5,584
	Northern Gas Networks Finance plc	4.875%	6/30/27	GBP	300		482
	Northern Gas Networks Finance plc	4.875%	11/15/35	GBP	3,800		6,787
	Northern Powergrid Holdings Co.	7.250%	12/15/22	GBP	1,060		1,623
	Northern Powergrid Yorkshire plc	5.125%	5/4/35	GBP	1,533		2,809
	Northumbrian Water Finance plc	1.625%	10/11/26	GBP	6,900		8,935
	Northumbrian Water Finance plc	2.375%	10/5/27	GBP	400		544
	Northumbrian Water Finance plc	5.125%	1/23/42	GBP	750		1,447
	Northumbrian Water Finance plc	5.625%	4/29/33	GBP	2,495		4,618
	Notting Hill Housing Trust	3.250%	10/12/48	GBP	250		351
	Notting Hill Housing Trust	3.750%	12/20/32	GBP	5,399		8,083
	Notting Hill Housing Trust	4.375%	2/20/54	GBP	5,000		8,756
	Notting Hill Housing Trust	5.250%	7/7/42	GBP	1,500		2,753
	Orbit Capital plc	3.500%	3/24/45	GBP	3,967		6,026
	Peabody Capital No. 2 plc	4.625%	12/12/53	GBP	150		283
	Peabody Capital plc	5.250%	3/17/43	GBP	5,650		10,804
	Pearson Funding Five plc	1.375%	5/6/25	EUR	600		695
	Penarian Housing Finance plc	3.212%	6/7/52	GBP	200		285
	Pension Insurance Corp. plc	5.625%	9/20/30	GBP	1,000		1,416
	Pension Insurance Corp. plc	6.500%	7/3/24	GBP	300		440
	Pension Insurance Corp. plc	8.000%	11/23/26	GBP	5,600		9,002
	Phoenix Group Holdings	4.125%	7/20/22	GBP	2,025		2,735
	Phoenix Group Holdings	4.375%	1/24/29	EUR	4,700		5,650
	Phoenix Group Holdings	6.625%	12/18/25	GBP	3,700		5,500
	Places For People Treasury plc	2.875%	8/17/26	GBP	10,300		13,792
	Porterbrook Rail Finance Ltd.	7.125%	10/20/26	GBP	3,000		5,072
	Principality Building Society	2.375%	11/23/23	GBP	1,000		1,319
1	Prudential plc	5.560%	7/20/55	GBP	5,100		7,371
1	Prudential plc	5.625%	10/20/51	GBP	5,700		8,395
	Prudential plc	5.875%	5/11/29	GBP	1,111		1,969

118

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Prudential plc	6.125%	12/19/31	GBP	9,000		15,742
1	Prudential plc	6.340%	12/19/63	GBP	4,300		6,717
	Quadgas Finance plc	3.375%	9/17/29	GBP	2,400		3,214
	RELX Capital Inc.	1.300%	5/12/25	EUR	2,000		2,353
	Rentokil Initial plc	0.950%	11/22/24	EUR	5,100		5,845
	Rentokil Initial plc	3.250%	10/7/21	EUR	150		176
	RL Finance Bonds No. 3 plc	6.125%	11/13/28	GBP	6,700		10,224
	Rolls-Royce plc	0.875%	5/9/24	EUR	17,900		20,342
	Rolls-Royce plc	1.625%	5/9/28	EUR	1,200		1,423
	Rolls-Royce plc	2.125%	6/18/21	EUR	1,500		1,729
	Rolls-Royce plc	3.375%	6/18/26	GBP	2,500		3,558
1	Royal Bank of Scotland Group plc	1.750%	3/2/26	EUR	25,000		29,295
1	Royal Bank of Scotland Group plc	2.000%	3/8/23	EUR	1,000		1,159
	Royal Bank of Scotland Group plc	2.500%	3/22/23	EUR	15,700		18,777
1	Royal Bank of Scotland Group plc	2.875%	9/19/26	GBP	2,200		2,952
1	Royal Bank of Scotland Group plc	3.125%	3/28/27	GBP	6,000		8,168
1	RSA Insurance Group plc	5.125%	10/10/45	GBP	2,000		2,902
	RSL Finance No. 1 plc	6.625%	3/31/38	GBP	995		1,910
	Sanctuary Capital plc	5.000%	4/26/47	GBP	4,112		8,181
	Santander UK Group Holdings plc	1.125%	9/8/23	EUR	11,105		12,774
1	Santander UK Group Holdings plc	2.920%	5/8/26	GBP	11,000		14,808
	Santander UK Group Holdings plc	3.625%	1/14/26	GBP	375		529
	Santander UK plc	0.500%	1/10/25	EUR	8,100		9,314
	Santander UK plc	1.125%	1/14/22	EUR	11,000		12,571
	Santander UK plc	1.125%	3/10/25	EUR	11,100		12,926
	Santander UK plc	3.875%	10/15/29	GBP	6,200		9,596
	Saxon Weald Capital plc	5.375%	6/6/42	GBP	596		1,080
	Scotland Gas Networks plc	3.250%	3/8/27	GBP	5,200		7,446
	Scotland Gas Networks plc	4.875%	12/21/34	GBP	1,000		1,759
	Scottish Widows Ltd.	5.500%	6/16/23	GBP	2,500		3,606
	Scottish Widows Ltd.	7.000%	6/16/43	GBP	1,300		2,287
	Segro plc	2.875%	10/11/37	GBP	300		416
	Severn Trent Utilities Finance plc	1.125%	9/7/21	GBP	1,700		2,201
	Severn Trent Utilities Finance plc	2.750%	12/5/31	GBP	1,300		1,844
	Severn Trent Utilities Finance plc	3.625%	1/16/26	GBP	2,500		3,612
	Severn Trent Utilities Finance plc	4.875%	1/24/42	GBP	2,540		4,734
	Skipton Building Society	1.750%	6/30/22	GBP	1,630		2,116
	Sky Ltd.	1.500%	9/15/21	EUR	7,037		8,080
	Sky Ltd.	1.875%	11/24/23	EUR	5,500		6,583
	Sky Ltd.	2.250%	11/17/25	EUR	500		625
	Sky Ltd.	2.500%	9/15/26	EUR	26,700		34,120
	Sky Ltd.	2.875%	11/24/20	GBP	8,950		11,809
	Sky Ltd.	4.000%	11/26/29	GBP	4,800		7,511
	Smiths Group plc	2.000%	2/23/27	EUR	10,800		12,849
	Society of Lloyd’s	4.750%	10/30/24	GBP	2,500		3,602
1	Society of Lloyd’s	4.875%	2/7/47	GBP	5,000		7,158
	South Eastern Power Networks plc	5.625%	9/30/30	GBP	2,550		4,495
	South Eastern Power Networks plc	6.375%	11/12/31	GBP	2,850		5,447
	Southern Electric Power Distribution plc	4.625%	2/20/37	GBP	3,400		5,742
	Southern Electric Power Distribution plc	5.500%	6/7/32	GBP	206		364
15	Southern Gas Networks plc	4.875%	12/21/20	GBP	5,000		6,740
	Southern Gas Networks plc	6.375%	5/15/40	GBP	420		903
	Southern Housing Group Ltd.	3.500%	10/19/47	GBP	1,500		2,314
16	Southern Water Services Finance Ltd.	4.500%	3/31/52	GBP	200		395

119

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
16	Southern Water Services Finance Ltd.	5.000%	3/31/21	GBP	7,850		10,678
16	Southern Water Services Finance Ltd.	5.125%	9/30/56	GBP	100		225
16	Southern Water Services Finance Ltd.	6.192%	3/31/29	GBP	3,000		5,369
	Sovereign Housing Capital plc	4.768%	6/1/43	GBP	289		545
	SPD Finance UK plc	5.875%	7/17/26	GBP	1,300		2,121
	SSE plc	0.875%	9/6/25	EUR	1,600		1,828
	SSE plc	2.375%	2/10/22	EUR	100		118
1	SSE plc	3.625%	9/16/77	GBP	100		131
1	SSE plc	3.875%	12/29/49	GBP	5,500		7,156
	SSE plc	4.250%	9/14/21	GBP	1,500		2,054
	SSE plc	5.875%	9/22/22	GBP	400		586
	SSE plc	6.250%	8/27/38	GBP	2,600		5,093
	SSE plc	8.375%	11/20/28	GBP	5,030		9,820
	Stagecoach Group plc	4.000%	9/29/25	GBP	300		416
1	Standard Chartered plc	0.750%	10/3/23	EUR	8,000		9,054
	Standard Chartered plc	1.625%	6/13/21	EUR	15,076		17,285
1	Standard Chartered plc	1.625%	10/3/27	EUR	700		837
	Standard Chartered plc	3.125%	11/19/24	EUR	500		626
	Student Finance plc	2.666%	9/30/24	GBP	1,500		1,949
	Sunderlan SHG Finance plc	6.380%	3/31/42	GBP	267		500
	Swan Housing Capital plc	3.625%	3/5/48	GBP	4,264		6,385
	TC Dudgeon Ofto plc	3.158%	11/12/38	GBP	1,270		1,838
	Tesco plc	5.125%	4/10/47	EUR	3,800		6,070
	Thames Water Utilities Cayman Finance Ltd.	2.625%	1/24/32	GBP	7,000		9,323
	Thames Water Utilities Cayman Finance Ltd.	2.875%	12/12/24	CAD	1,175		871
	Thames Water Utilities Cayman Finance Ltd.	3.500%	2/25/28	GBP	1,300		1,860
	Thames Water Utilities Cayman Finance Ltd.	4.000%	6/19/25	GBP	8,000		11,600
	Thames Water Utilities Cayman Finance Ltd.	4.375%	7/3/34	GBP	1,795		2,858
	Thames Water Utilities Cayman Finance Ltd.	4.625%	6/4/46	GBP	1,645		2,845
	Thames Water Utilities Cayman Finance Ltd.	5.500%	2/11/41	GBP	6,176		11,583
1	Thames Water Utilities Cayman Finance Ltd.	5.750%	9/13/30	GBP	500		706
	Thames Water Utilities Cayman Finance Ltd.	7.738%	4/9/58	GBP	100		267
	Thames Water Utilities Finance plc	1.875%	1/24/24	GBP	1,500		1,970
	Thames Water Utilities Finance plc	5.125%	9/28/37	GBP	1,407		2,455
	Thames Water Utilities Finance plc	6.750%	11/16/28	GBP	3,590		6,401
	THFC Funding No. 3 plc	5.200%	10/11/43	GBP	4,900		9,420
	Together Housing Finance plc	4.500%	12/17/42	GBP	430		760
	TP ICAP plc	5.250%	1/26/24	GBP	320		447
	TP ICAP plc	5.250%	5/29/26	GBP	1,000		1,378
1	TSB Banking Group plc	5.750%	5/6/26	GBP	1,700		2,233
	Unilever NV	0.500%	2/3/22	EUR	200		227
	Unilever NV	0.500%	1/6/25	EUR	100		115
	Unilever NV	1.000%	6/3/23	EUR	100		116
	Unilever plc	1.125%	2/3/22	GBP	1,200		1,565
	Unilever plc	1.500%	6/11/39	EUR	5,200		6,404
1	UNITE USAF II plc	3.374%	6/30/28	GBP	1,600		2,213
	UNITE USAF II plc	3.921%	6/30/25	GBP	3,896		5,632
	United Utilities Water Finance plc	2.000%	2/14/25	GBP	3,000		4,007
	United Utilities Water Finance plc	2.625%	2/12/31	GBP	900		1,285
	United Utilities Water Ltd.	5.625%	12/20/27	GBP	6,810		11,667
	United Utilities Water Ltd.	5.750%	3/25/22	GBP	3,750		5,402
	University of Cambridge	2.350%	6/27/78	GBP	1,850		2,930
	University of Cambridge	3.750%	10/17/52	GBP	900		1,825
	University of Liverpool	3.375%	6/25/55	GBP	300		545

120

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	University of Oxford	2.544%	12/8/17	GBP	7,000		11,001
	University of Southampton	2.250%	4/11/57	GBP	100		133
1	Virgin Money Holdings UK plc	3.375%	4/24/26	GBP	12,166		15,576
	Vodafone Group plc	0.500%	1/30/24	EUR	100		113
	Vodafone Group plc	0.875%	11/17/20	EUR	10,900		12,287
	Vodafone Group plc	0.900%	11/24/26	EUR	4,750		5,463
	Vodafone Group plc	1.125%	11/20/25	EUR	9,000		10,525
	Vodafone Group plc	1.250%	8/25/21	EUR	9,100		10,395
	Vodafone Group plc	1.500%	7/24/27	EUR	2,200		2,637
	Vodafone Group plc	1.600%	7/29/31	EUR	11,300		13,294
	Vodafone Group plc	1.625%	11/24/30	EUR	10,000		11,866
	Vodafone Group plc	1.750%	8/25/23	EUR	9,100		10,796
	Vodafone Group plc	1.875%	9/11/25	EUR	20,000		24,297
	Vodafone Group plc	1.875%	11/20/29	EUR	7,900		9,680
	Vodafone Group plc	2.200%	8/25/26	EUR	300		374
	Vodafone Group plc	2.500%	5/24/39	EUR	4,500		5,565
	Vodafone Group plc	2.875%	11/20/37	EUR	200		264
	Vodafone Group plc	3.000%	8/12/56	GBP	5,800		7,337
	Vodafone Group plc	3.250%	12/13/22	AUD	1,000		720
	Vodafone Group plc	3.375%	8/8/49	GBP	2,900		3,936
	Vodafone Group plc	4.200%	12/13/27	AUD	9,350		7,123
	Vodafone Group plc	4.650%	1/20/22	EUR	100		123
	Vodafone Group plc	5.625%	12/4/25	GBP	1,200		1,926
	Vodafone Group plc	5.900%	11/26/32	GBP	3,000		5,534
	Wales & West Utilities Finance plc	3.000%	8/3/38	GBP	1,500		2,220
	Wales & West Utilities Finance plc	5.750%	3/29/30	GBP	5,000		8,959
	Wellcome Trust Finance plc	4.000%	5/9/59	GBP	2,200		4,931
	Wellcome Trust Finance plc	4.750%	5/28/21	GBP	500		685
	Wellcome Trust Ltd.	2.517%	2/7/18	GBP	4,300		6,744
	Wessex Water Services Finance plc	4.000%	9/24/21	GBP	1,000		1,365
	Wessex Water Services Finance plc	5.375%	3/10/28	GBP	800		1,334
	Western Power Distribution East Midlands plc	5.250%	1/17/23	GBP	2,500		3,645
	Western Power Distribution South Wales plc	5.750%	3/23/40	GBP	850		1,685
	Western Power Distribution South West plc	5.750%	3/23/40	GBP	1,750		3,467
	Western Power Distribution South West plc	5.875%	3/25/27	GBP	1,000		1,661
	Western Power Distribution West Midlands plc	3.875%	10/17/24	GBP	3,700		5,313
	Western Power Distribution West Midlands plc	5.750%	4/16/32	GBP	5,600		10,111
	Wheatley Group Capital plc	4.375%	11/28/44	GBP	4,500		7,561
	WHG Treasury plc	4.250%	10/6/45	GBP	4,000		6,836
	Wm Morrison Supermarkets plc	3.500%	7/27/26	GBP	1,350		1,936
	Wm Morrison Supermarkets plc	4.625%	12/8/23	GBP	800		1,171
	Wm Morrison Supermarkets plc	4.750%	7/4/29	GBP	5,550		8,732
	WM Treasury 2 plc	3.250%	10/20/48	GBP	1,500		2,274
	Wods Transmission plc	3.446%	8/24/34	GBP	573		838
	WPP Finance 2013	2.875%	9/14/46	GBP	500		598
	WPP Finance 2016	1.375%	3/20/25	EUR	17,200		20,020
	WPP Finance Deutschland GmbH	1.625%	3/23/30	EUR	100		119
	WPP Finance SA	2.250%	9/22/26	EUR	300		371
	Yorkshire Building Society	0.875%	3/20/23	EUR	200		227
	Yorkshire Building Society	1.250%	3/17/22	EUR	9,403		10,772

121

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Yorkshire Building Society	3.500%	4/21/26	GBP	1,100		1,552
	Yorkshire Power Finance Ltd.	7.250%	8/4/28	GBP	200		376
	Yorkshire Water Finance plc	2.750%	4/18/41	GBP	100		142
	Yorkshire Water Services Finance Ltd.	3.625%	8/1/29	GBP	6,400		9,613
1	Yorkshire Water Services Finance Ltd.	3.750%	3/22/46	GBP	1,000		1,345
	Yorkshire Water Services Finance Ltd.	5.500%	5/28/37	GBP	300		591
	Yorkshire Water Services Finance Ltd.	6.375%	8/19/39	GBP	5,377		11,789
							2,915,702
Sovereign Bonds (4.9%)
1	Affordable Housing Finance plc	2.893%	8/11/45	GBP	2,673		4,457
	Affordable Housing Finance plc	3.800%	5/20/42	GBP	5,000		9,380
	LCR Finance plc	4.500%	12/7/28	GBP	7,500		12,748
	LCR Finance plc	4.500%	12/7/38	GBP	1,600		3,198
	LCR Finance plc	5.100%	3/7/51	GBP	6,700		16,708
	Merseylink Issuer plc	3.842%	3/31/43	GBP	300		543
	Network Rail Infrastructure Finance plc	2.750%	10/6/21	CHF	2,500		2,699
	Network Rail Infrastructure Finance plc	4.375%	12/9/30	GBP	8,900		15,688
	Network Rail Infrastructure Finance plc	4.750%	1/22/24	GBP	5,000		7,555
	Network Rail Infrastructure Finance plc	4.750%	11/29/35	GBP	4,200		8,273
	NIE Finance plc	2.500%	10/27/25	GBP	800		1,087
	PRS Finance plc	1.750%	11/24/26	GBP	7,650		10,410
	Transport for London	2.125%	4/24/25	GBP	5,000		6,838
	Transport for London	2.250%	8/9/22	GBP	900		1,210
	Transport for London	3.625%	5/15/45	GBP	4,900		8,370
	Transport for London	3.875%	7/23/42	GBP	800		1,394
	Transport for London	4.000%	4/7/64	GBP	4,550		9,514
	United Kingdom	0.500%	7/22/22	GBP	286,391		371,765
	United Kingdom	0.625%	6/7/25	GBP	29,281		38,312
	United Kingdom	0.750%	7/22/23	GBP	224,150		293,822
	United Kingdom	0.875%	10/22/29	GBP	70,000		92,899
	United Kingdom	1.250%	7/22/27	GBP	179,500		246,620
	United Kingdom	1.500%	1/22/21	GBP	143,000		187,209
	United Kingdom	1.500%	7/22/47	GBP	181,800		256,572
	United Kingdom	1.625%	10/22/28	GBP	105,800		150,160
	United Kingdom	1.625%	10/22/54	GBP	118,542		176,878
	United Kingdom	1.625%	10/22/71	GBP	105,659		171,242
	United Kingdom	1.750%	9/7/22	GBP	112,220		150,801
	United Kingdom	1.750%	9/7/37	GBP	259,300		375,836
	United Kingdom	1.750%	7/22/57	GBP	36,791		58,121
	United Kingdom	2.250%	9/7/23	GBP	20,000		27,719
	United Kingdom	3.250%	1/22/44	GBP	220,300		414,441
	United Kingdom	3.500%	1/22/45	GBP	99,920		197,173
	United Kingdom	3.500%	7/22/68	GBP	48,464		122,129
	United Kingdom	3.750%	9/7/20	GBP	22,027		29,283
	United Kingdom	3.750%	9/7/21	GBP	53,100		72,896
	United Kingdom	3.750%	7/22/52	GBP	93,100		209,118
	United Kingdom	4.000%	1/22/60	GBP	125,600		320,374
	United Kingdom	4.250%	12/7/27	GBP	88,000		148,571
	United Kingdom	4.250%	6/7/32	GBP	89,541		164,821
	United Kingdom	4.250%	3/7/36	GBP	127,000		247,234
	United Kingdom	4.250%	9/7/39	GBP	90,796		185,717
	United Kingdom	4.250%	12/7/40	GBP	66,445		137,985
	United Kingdom	4.250%	12/7/46	GBP	65,600		147,207
	United Kingdom	4.250%	12/7/49	GBP	72,600		169,406

122

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	United Kingdom	4.250%	12/7/55	GBP	89,100		225,100
	United Kingdom	4.500%	9/7/34	GBP	104,225		203,623
	United Kingdom	4.500%	12/7/42	GBP	95,100		209,163
	United Kingdom	4.750%	12/7/30	GBP	14,410		26,917
	United Kingdom	4.750%	12/7/38	GBP	16,708		35,801
	United Kingdom	5.000%	3/7/25	GBP	141,707		228,188
	United Kingdom	8.000%	6/7/21	GBP	26,000		37,684
	United Kingdom Gilt	1.000%	4/22/24	GBP	250,532		332,754
	United Kingdom Gilt	1.750%	1/22/49	GBP	33,000		49,391
	United Kingdom Gilt	2.500%	7/22/65	GBP	92,200		183,719
	Urenco Finance NV	2.375%	12/2/24	EUR	4,000		4,926
	Urenco Finance NV	2.500%	2/15/21	EUR	3,000		3,453
							6,825,102
Total United Kingdom (Cost $9,657,046)							10,197,062
United States (3.1%)
Corporate Bonds (3.1%)
	3M Co.	0.375%	2/15/22	EUR	17,000		19,172
	3M Co.	0.950%	5/15/23	EUR	2,000		2,315
	3M Co.	1.500%	11/9/26	EUR	300		366
	3M Co.	1.750%	5/15/30	EUR	1,617		2,050
	3M Co.	1.875%	11/15/21	EUR	400		465
	Abbott Ireland Financing DAC	0.875%	9/27/23	EUR	100		115
	Abbott Ireland Financing DAC	1.500%	9/27/26	EUR	17,500		20,977
	AbbVie Inc.	0.750%	11/18/27	EUR	5,000		5,559
	AbbVie Inc.	1.375%	5/17/24	EUR	12,000		14,017
	AbbVie Inc.	2.125%	11/17/28	EUR	19,900		24,784
	Air Products & Chemicals Inc.	1.000%	2/12/25	EUR	3,337		3,899
	Albemarle Corp.	1.875%	12/8/21	EUR	100		116
	Allergan Funding SCS	0.500%	6/1/21	EUR	4,800		5,394
	Allergan Funding SCS	1.250%	6/1/24	EUR	10,000		11,614
	Allergan Funding SCS	1.500%	11/15/23	EUR	1,200		1,410
	Allergan Funding SCS	2.125%	6/1/29	EUR	8,400		10,337
	Allergan Funding SCS	2.625%	11/15/28	EUR	2,000		2,563
	Altria Group Inc.	1.000%	2/15/23	EUR	2,400		2,710
	Altria Group Inc.	1.700%	6/15/25	EUR	3,100		3,554
	Altria Group Inc.	2.200%	6/15/27	EUR	12,550		14,723
	Altria Group Inc.	3.125%	6/15/31	EUR	19,100		23,480
	American Express Credit Corp.	0.625%	11/22/21	EUR	26,702		30,213
	American Honda Finance Corp.	1.300%	3/21/22	GBP	15,000		19,506
	American International Group Inc.	1.500%	6/8/23	EUR	500		581
	American International Group Inc.	1.875%	6/21/27	EUR	5,300		6,390
	American International Group Inc.	5.000%	4/26/23	GBP	3,400		4,932
	American Tower Corp.	1.375%	4/4/25	EUR	8,500		9,947
	American Tower Corp.	1.950%	5/22/26	EUR	14,400		17,367
	Amgen Inc.	1.250%	2/25/22	EUR	18,360		21,019
	Amgen Inc.	2.000%	2/25/26	EUR	2,600		3,203
	Amgen Inc.	4.000%	9/13/29	GBP	4,500		6,872
	Amgen Inc.	5.500%	12/7/26	GBP	4,400		7,144
	Aon plc	2.875%	5/14/26	EUR	3,400		4,307
	Apple Inc.	0.750%	2/25/30	CHF	5,500		5,973
	Apple Inc.	0.875%	5/24/25	EUR	12,000		14,067
	Apple Inc.	1.000%	11/10/22	EUR	14,050		16,238
	Apple Inc.	1.375%	1/17/24	EUR	10,100		11,978

123

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Apple Inc.	1.375%	5/24/29	EUR	8,900		11,044
	Apple Inc.	1.625%	11/10/26	EUR	4,139		5,146
	Apple Inc.	2.000%	9/17/27	EUR	7,080		9,097
	Apple Inc.	2.513%	8/19/24	CAD	24,220		18,684
	Apple Inc.	3.050%	7/31/29	GBP	9,500		14,239
	Apple Inc.	3.350%	1/10/24	AUD	750		554
	Apple Inc.	3.600%	6/10/26	AUD	1,890		1,443
	Apple Inc.	3.600%	7/31/42	GBP	7,000		11,921
	Apple Inc.	3.700%	8/28/22	AUD	7,250		5,312
	Archer-Daniels-Midland Co.	1.000%	9/12/25	EUR	15,600		18,207
	Archer-Daniels-Midland Co.	1.750%	6/23/23	EUR	10,000		11,885
	AT&T Inc.	0.800%	3/4/30	EUR	4,000		4,424
	AT&T Inc.	1.050%	9/5/23	EUR	2,100		2,417
	AT&T Inc.	1.300%	9/5/23	EUR	15,314		17,789
	AT&T Inc.	1.375%	12/4/24	CHF	500		538
	AT&T Inc.	1.800%	9/5/26	EUR	3,800		4,600
	AT&T Inc.	1.800%	9/14/39	EUR	8,000		8,714
	AT&T Inc.	1.875%	12/4/20	EUR	400		454
	AT&T Inc.	1.950%	9/15/23	EUR	800		950
	AT&T Inc.	2.350%	9/5/29	EUR	15,300		19,562
	AT&T Inc.	2.400%	3/15/24	EUR	9,000		10,932
	AT&T Inc.	2.450%	3/15/35	EUR	5,100		6,307
	AT&T Inc.	2.500%	3/15/23	EUR	2,100		2,515
	AT&T Inc.	2.650%	12/17/21	EUR	200		234
	AT&T Inc.	2.750%	5/19/23	EUR	9,848		11,978
	AT&T Inc.	2.900%	12/4/26	GBP	3,200		4,415
	AT&T Inc.	3.150%	9/4/36	EUR	6,400		8,568
	AT&T Inc.	3.375%	3/15/34	EUR	2,800		3,845
	AT&T Inc.	3.450%	9/19/23	AUD	900		654
	AT&T Inc.	3.500%	12/17/25	EUR	4,800		6,351
	AT&T Inc.	3.550%	12/17/32	EUR	9,962		14,098
	AT&T Inc.	3.825%	11/25/20	CAD	11,750		9,063
	AT&T Inc.	4.000%	11/25/25	CAD	14,225		11,409
	AT&T Inc.	4.100%	1/19/26	AUD	650		493
	AT&T Inc.	4.250%	6/1/43	GBP	5,267		8,114
	AT&T Inc.	4.375%	9/14/29	GBP	5,488		8,360
	AT&T Inc.	4.600%	9/19/28	AUD	6,370		5,031
	AT&T Inc.	4.850%	5/25/47	CAD	3,930		3,150
	AT&T Inc.	4.875%	6/1/44	GBP	450		750
	AT&T Inc.	5.100%	11/25/48	CAD	3,500		2,912
	AT&T Inc.	5.200%	11/18/33	GBP	10,000		16,677
	AT&T Inc.	7.000%	4/30/40	GBP	7,150		14,691
1	Bank of America Corp.	0.736%	2/7/22	EUR	100		113
	Bank of America Corp.	0.750%	7/26/23	EUR	19,700		22,518
1	Bank of America Corp.	0.808%	5/9/26	EUR	10,000		11,412
	Bank of America Corp.	1.375%	9/10/21	EUR	10,000		11,467
	Bank of America Corp.	1.375%	3/26/25	EUR	3,000		3,562
1	Bank of America Corp.	1.379%	2/7/25	EUR	5,600		6,559
	Bank of America Corp.	1.625%	9/14/22	EUR	5,000		5,835
1	Bank of America Corp.	1.776%	5/4/27	EUR	12,100		14,597
	Bank of America Corp.	2.300%	7/25/25	GBP	4,000		5,393
	Bank of America Corp.	2.375%	6/19/24	EUR	7,000		8,612
1	Bank of America Corp.	2.604%	3/15/23	CAD	4,850		3,700
1	Bank of America Corp.	2.932%	4/25/25	CAD	4,698		3,590

124

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
1	Bank of America Corp.	3.301%	4/24/24	CAD	9,525		7,427
1	Bank of America Corp.	3.407%	9/20/25	CAD	2,040		1,604
	Bank of America Corp.	4.250%	12/10/26	GBP	2,900		4,431
	Bank of America Corp.	5.500%	11/22/21	GBP	1,800		2,522
	Bank of America Corp.	6.125%	9/15/21	GBP	7,400		10,458
	Baxter International Inc.	1.300%	5/30/25	EUR	7,055		8,219
	Baxter International Inc.	1.300%	5/15/29	EUR	7,300		8,426
	Becton Dickinson & Co.	1.000%	12/15/22	EUR	7,830		8,933
	Becton Dickinson & Co.	1.900%	12/15/26	EUR	11,818		14,145
	Becton Dickinson Euro Finance Sarl	0.174%	6/4/21	EUR	9,000		10,064
	Becton Dickinson Euro Finance Sarl	0.632%	6/4/23	EUR	10,000		11,259
	Becton Dickinson Euro Finance Sarl	1.208%	6/4/26	EUR	8,000		9,162
	Berkshire Hathaway Finance Corp.	2.375%	6/19/39	GBP	7,000		9,621
	Berkshire Hathaway Finance Corp.	2.625%	6/19/59	GBP	3,600		5,267
	Berkshire Hathaway Inc.	0.170%	9/13/24	JPY	1,500,000		13,877
	Berkshire Hathaway Inc.	0.440%	9/13/29	JPY	2,500,000		23,145
	Berkshire Hathaway Inc.	0.440%	9/13/29	JPY	3,000,000		27,774
	Berkshire Hathaway Inc.	0.750%	3/16/23	EUR	1,000		1,140
	Berkshire Hathaway Inc.	1.108%	9/13/49	JPY	800,000		7,314
	Berkshire Hathaway Inc.	1.125%	3/16/27	EUR	8,802		10,412
	Berkshire Hathaway Inc.	1.300%	3/15/24	EUR	4,400		5,158
	Berkshire Hathaway Inc.	1.625%	3/16/35	EUR	6,000		7,566
	Berkshire Hathaway Inc.	2.150%	3/15/28	EUR	16,300		20,818
	BlackRock Inc.	1.250%	5/6/25	EUR	6,550		7,783
	Blackstone Holdings Finance Co. LLC	1.000%	10/5/26	EUR	889		1,028
	Blackstone Holdings Finance Co. LLC	2.000%	5/19/25	EUR	100		122
	Booking Holdings Inc.	0.800%	3/10/22	EUR	9,398		10,689
	Booking Holdings Inc.	1.800%	3/3/27	EUR	10,138		12,521
	Booking Holdings Inc.	2.375%	9/23/24	EUR	4,000		4,940
	BorgWarner Inc.	1.800%	11/7/22	EUR	100		117
	Bristol-Myers Squibb Co.	1.000%	5/15/25	EUR	1,625		1,899
	Bristol-Myers Squibb Co.	1.750%	5/15/35	EUR	4,000		5,130
	Brookfield Property Finance ULC	4.346%	7/3/23	CAD	2,000		1,575
	Brown-Forman Corp.	1.200%	7/7/26	EUR	2,560		3,004
	Brown-Forman Corp.	2.600%	7/7/28	GBP	9,320		13,153
	Bunge Finance Europe BV	1.850%	6/16/23	EUR	16,570		19,161
	Carnival Corp.	1.625%	2/22/21	EUR	9,000		10,262
	Carnival Corp.	1.875%	11/7/22	EUR	5,550		6,518
	Carnival plc	1.000%	10/28/29	EUR	3,000		3,345
	Celanese US Holdings LLC	2.125%	3/1/27	EUR	7,900		9,301
	Chubb INA Holdings Inc.	0.875%	6/15/27	EUR	2,400		2,760
	Chubb INA Holdings Inc.	1.400%	6/15/31	EUR	4,800		5,675
	Chubb INA Holdings Inc.	1.550%	3/15/28	EUR	3,962		4,775
	Chubb INA Holdings Inc.	2.500%	3/15/38	EUR	12,574		16,944
	Citigroup Inc.	0.750%	10/26/23	EUR	500		572
	Citigroup Inc.	1.250%	4/10/29	EUR	3,000		3,519
	Citigroup Inc.	1.375%	10/27/21	EUR	10,000		11,482
1	Citigroup Inc.	1.500%	7/24/26	EUR	20,000		23,629
	Citigroup Inc.	1.500%	10/26/28	EUR	1,000		1,205
	Citigroup Inc.	1.625%	3/21/28	EUR	3,000		3,638
	Citigroup Inc.	1.750%	1/28/25	EUR	600		721
	Citigroup Inc.	1.750%	10/23/26	GBP	5,100		6,621
	Citigroup Inc.	2.125%	9/10/26	EUR	5,400		6,717
	Citigroup Inc.	2.375%	5/22/24	EUR	2,000		2,457

125

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
Citigroup Inc.	2.400%	10/31/25	JPY	660,000		6,729
Citigroup Inc.	2.750%	1/24/24	GBP	11,500		15,612
Citigroup Inc.	3.390%	11/18/21	CAD	4,970		3,860
Citigroup Inc.	4.090%	6/9/25	CAD	3,100		2,478
Citigroup Inc.	4.500%	3/3/31	GBP	1,000		1,572
Citigroup Inc.	6.800%	6/25/38	GBP	400		868
Citigroup Inc.	7.375%	9/1/39	GBP	600		1,381
Coca-Cola Co.	0.000%	3/9/21	EUR	3,750		4,195
Coca-Cola Co.	0.500%	3/8/24	EUR	5,800		6,633
Coca-Cola Co.	0.750%	3/9/23	EUR	5,500		6,304
Coca-Cola Co.	0.750%	9/22/26	EUR	10,000		11,686
Coca-Cola Co.	1.125%	9/22/22	EUR	1,000		1,158
Coca-Cola Co.	1.125%	3/9/27	EUR	3,100		3,699
Coca-Cola Co.	1.250%	3/8/31	EUR	15,100		18,451
Coca-Cola Co.	1.625%	3/9/35	EUR	5,650		7,220
Coca-Cola Co.	1.875%	9/22/26	EUR	2,959		3,706
Coca-Cola Co.	3.250%	6/11/24	AUD	1,670		1,240
Colgate-Palmolive Co.	0.500%	3/6/26	EUR	1,900		2,179
Colgate-Palmolive Co.	1.375%	3/6/34	EUR	2,600		3,195
Comcast Corp.	5.500%	11/23/29	GBP	4,000		6,963
Corning Inc.	0.992%	8/10/27	JPY	1,700,000		16,004
DH Europe Finance II Sarl	0.200%	3/18/26	EUR	7,300		8,060
DH Europe Finance II Sarl	0.450%	3/18/28	EUR	3,300		3,646
DH Europe Finance II Sarl	0.750%	9/18/31	EUR	7,500		8,196
DH Europe Finance II Sarl	1.350%	9/18/39	EUR	6,000		6,500
DH Europe Finance II Sarl	1.350%	9/18/39	EUR	4,800		5,200
DH Europe Finance SA	1.700%	1/4/22	EUR	26,000		30,130
Digital Euro Finco LLC	2.500%	1/16/26	EUR	19,300		23,495
Digital Euro Finco LLC	2.625%	4/15/24	EUR	5,100		6,192
Digital Stout Holding LLC	3.300%	7/19/29	GBP	3,000		4,179
Digital Stout Holding LLC	3.750%	10/17/30	GBP	4,000		5,787
Digital Stout Holding LLC	4.250%	1/17/25	GBP	2,000		2,906
Digital Stout Holding LLC	4.750%	10/13/23	GBP	1,000		1,447
Discovery Communications LLC	1.900%	3/19/27	EUR	13,742		16,207
Discovery Communications LLC	2.375%	3/7/22	EUR	1,000		1,173
Discovery Communications LLC	2.500%	9/20/24	GBP	4,400		5,856
Dover Corp.	1.250%	11/9/26	EUR	19,700		22,904
Dover Corp.	2.125%	12/1/20	EUR	1,300		1,482
DXC Technology Co.	1.750%	1/15/26	EUR	10,700		12,081
DXC Technology Co.	2.750%	1/15/25	GBP	10,000		13,059
Eastman Chemical Co.	1.500%	5/26/23	EUR	10,000		11,678
Eastman Chemical Co.	1.875%	11/23/26	EUR	5,700		6,896
Ecolab Inc.	1.000%	1/15/24	EUR	7,620		8,789
Eli Lilly & Co.	1.000%	6/2/22	EUR	13,800		15,829
Eli Lilly & Co.	1.700%	11/1/49	EUR	6,200		6,928
Eli Lilly & Co.	2.125%	6/3/30	EUR	8,100		10,460
Emerson Electric Co.	0.375%	5/22/24	EUR	2,050		2,309
Emerson Electric Co.	1.250%	10/15/25	EUR	2,000		2,352
Emerson Electric Co.	2.000%	10/15/29	EUR	2,000		2,495
Equinix Inc.	2.875%	2/1/26	EUR	12,350		14,318
Euronet Worldwide Inc.	1.375%	5/22/26	EUR	6,300		7,007
Expedia Group Inc.	2.500%	6/3/22	EUR	1,450		1,702
FedEx Corp.	1.000%	1/11/23	EUR	700		800
FedEx Corp.	1.300%	8/5/31	EUR	2,300		2,564

126

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
FedEx Corp.	1.625%	1/11/27	EUR	7,000		8,275
Fidelity National Information Services Inc.	0.125%	5/21/21	EUR	1,040		1,163
Fidelity National Information Services Inc.	0.400%	1/15/21	EUR	6,662		7,468
Fidelity National Information Services Inc.	0.750%	5/21/23	EUR	5,215		5,932
Fidelity National Information Services Inc.	1.500%	5/21/27	EUR	12,025		14,239
Fidelity National Information Services Inc.	2.000%	5/21/30	EUR	3,320		4,085
Fidelity National Information Services Inc.	2.602%	5/21/25	GBP	2,867		3,901
Fidelity National Information Services Inc.	2.950%	5/21/39	EUR	6,420		8,605
Fidelity National Information Services Inc.	3.360%	5/21/31	GBP	2,261		3,245
Fiserv Inc.	0.375%	7/1/23	EUR	1,000		1,123
Fiserv Inc.	1.125%	7/1/27	EUR	900		1,039
Fiserv Inc.	1.625%	7/1/30	EUR	1,900		2,252
Fiserv Inc.	2.250%	7/1/25	GBP	2,100		2,806
Fiserv Inc.	3.000%	7/1/31	GBP	5,200		7,222
Flowserve Corp.	1.250%	3/17/22	EUR	3,700		4,169
Fluor Corp.	1.750%	3/21/23	EUR	7,450		7,890
Ford Credit Canada Co.	2.710%	2/23/22	CAD	7,980		5,983
Ford Credit Canada Co.	3.742%	5/8/23	CAD	9,935		7,474
Ford Credit Canada Ltd.	2.580%	5/10/21	CAD	5,000		3,772
Ford Credit Canada Ltd.	3.279%	7/2/21	CAD	2,800		2,133
Ford Motor Credit Co. LLC	1.514%	2/17/23	EUR	4,400		4,893
Ford Motor Credit Co. LLC	2.386%	2/17/26	EUR	39,108		43,912
Ford Motor Credit Co. LLC	4.535%	3/6/25	GBP	6,536		8,912
GE Capital Australia Funding Pty Ltd.	5.500%	8/8/22	AUD	500		373
GE Capital Canada Funding Co.	4.600%	1/26/22	CAD	5,411		4,252
GE Capital Canada Funding Co.	5.730%	10/22/37	CAD	1,500		1,246
GE Capital European Funding Unlimited Co.	2.625%	3/15/23	EUR	17,050		20,288
GE Capital European Funding Unlimited Co.	4.350%	11/3/21	EUR	100		120
GE Capital European Funding Unlimited Co.	4.625%	2/22/27	EUR	2,900		4,024
GE Capital European Funding Unlimited Co.	6.025%	3/1/38	EUR	3,500		5,914
GE Capital UK Funding Unlimited Co.	4.125%	9/13/23	GBP	6,561		9,149
GE Capital UK Funding Unlimited Co.	5.875%	11/4/20	GBP	3,830		5,168
GE Capital UK Funding Unlimited Co.	5.875%	1/18/33	GBP	4,538		7,442
GE Capital UK Funding Unlimited Co.	6.250%	5/5/38	GBP	2,414		4,224
GE Capital UK Funding Unlimited Co.	8.000%	1/14/39	GBP	1,000		1,993
General Electric Co.	0.375%	5/17/22	EUR	7,200		8,014
General Electric Co.	0.875%	5/17/25	EUR	13,050		14,541
General Electric Co.	1.250%	5/26/23	EUR	4,000		4,553
General Electric Co.	1.500%	5/17/29	EUR	6,100		6,906
General Electric Co.	2.125%	5/17/37	EUR	5,400		6,111
General Electric Co.	4.125%	9/19/35	EUR	5,300		7,411
General Electric Co.	4.875%	9/18/37	GBP	7,236		10,140
General Electric Co.	5.500%	6/7/21	GBP	3,100		4,238
General Mills Inc.	1.000%	4/27/23	EUR	7,000		8,055
General Mills Inc.	1.500%	4/27/27	EUR	2,000		2,346
General Mills Inc.	2.100%	11/16/20	EUR	1,000		1,135
General Motors Financial Co. Inc.	2.200%	4/1/24	EUR	23,546		27,481
General Motors Financial Co. Inc.	2.250%	9/6/24	GBP	900		1,165
General Motors Financial Co. Inc.	3.850%	2/21/23	AUD	3,450		2,483
General Motors Financial of Canada Ltd.	2.600%	6/1/22	CAD	7,000		5,283
Goldman Sachs Group Inc.	0.550%	9/9/21	CHF	6,150		6,316
Goldman Sachs Group Inc.	1.000%	5/24/21	JPY	445,000		4,156
Goldman Sachs Group Inc.	1.250%	5/1/25	EUR	32,540		37,694
Goldman Sachs Group Inc.	1.375%	7/26/22	EUR	10,900		12,627

127

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Goldman Sachs Group Inc.	1.375%	5/15/24	EUR	23,800		27,609
	Goldman Sachs Group Inc.	1.625%	7/27/26	EUR	19,713		23,520
	Goldman Sachs Group Inc.	2.000%	7/27/23	EUR	17,266		20,564
	Goldman Sachs Group Inc.	2.000%	3/22/28	EUR	7,100		8,712
	Goldman Sachs Group Inc.	2.000%	11/1/28	EUR	10,200		12,559
	Goldman Sachs Group Inc.	2.125%	9/30/24	EUR	9,139		11,102
1	Goldman Sachs Group Inc.	2.433%	4/26/23	CAD	10,200		7,737
	Goldman Sachs Group Inc.	2.875%	6/3/26	EUR	5,000		6,428
	Goldman Sachs Group Inc.	3.125%	7/25/29	GBP	7,000		9,810
	Goldman Sachs Group Inc.	3.250%	2/1/23	EUR	23,800		29,234
1	Goldman Sachs Group Inc.	3.307%	10/31/25	CAD	790		615
	Goldman Sachs Group Inc.	4.250%	1/29/26	GBP	18,000		26,457
	Goldman Sachs Group Inc.	4.700%	9/8/21	AUD	1,300		946
	Goldman Sachs Group Inc.	4.750%	10/12/21	EUR	1,100		1,334
	Goldman Sachs Group Inc.	5.500%	10/12/21	GBP	1,500		2,096
	Goldman Sachs Group Inc.	6.875%	1/18/38	GBP	6,100		11,973
	Goldman Sachs Group Inc.	7.125%	8/7/25	GBP	3,734		6,226
	Goldman Sachs Group Inc.	7.250%	4/10/28	GBP	700		1,266
	Harman Finance International SCA	2.000%	5/27/22	EUR	8,500		9,854
	Honeywell International Inc.	1.300%	2/22/23	EUR	8,300		9,646
	Honeywell International Inc.	2.250%	2/22/28	EUR	5,690		7,378
	Illinois Tool Works Inc.	0.250%	12/5/24	EUR	4,400		4,942
	Illinois Tool Works Inc.	0.625%	12/5/27	EUR	5,500		6,267
	Illinois Tool Works Inc.	1.000%	6/5/31	EUR	6,200		7,213
	Illinois Tool Works Inc.	1.250%	5/22/23	EUR	3,100		3,608
	Illinois Tool Works Inc.	1.750%	5/20/22	EUR	7,900		9,198
	Illinois Tool Works Inc.	2.125%	5/22/30	EUR	11,700		15,177
	Intel Corp.	4.000%	12/1/22	AUD	7,070		5,229
	International Business Machines Corp.	0.375%	1/31/23	EUR	9,700		10,964
	International Business Machines Corp.	0.500%	9/7/21	EUR	4,000		4,515
	International Business Machines Corp.	0.875%	1/31/25	EUR	3,000		3,485
	International Business Machines Corp.	0.950%	5/23/25	EUR	18,400		21,465
	International Business Machines Corp.	1.250%	1/29/27	EUR	8,600		10,282
	International Business Machines Corp.	1.750%	1/31/31	EUR	9,400		11,786
	International Business Machines Corp.	1.875%	11/6/20	EUR	500		569
	International Business Machines Corp.	2.625%	8/5/22	GBP	500		676
	International Business Machines Corp.	2.750%	12/21/20	GBP	4,000		5,279
	International Business Machines Corp.	2.875%	11/7/25	EUR	4,100		5,332
	International Flavors & Fragrances Inc.	0.500%	9/25/21	EUR	1,800		2,023
	International Flavors & Fragrances Inc.	1.750%	3/14/24	EUR	7,130		8,397
	International Flavors & Fragrances Inc.	1.800%	9/25/26	EUR	6,000		7,092
	John Deere Canada Funding Inc.	1.850%	3/24/21	CAD	5,000		3,782
	John Deere Canada Funding Inc.	2.630%	9/21/22	CAD	9,800		7,526
	John Deere Cash Management SA	0.500%	9/15/23	EUR	2,200		2,504
	John Deere Cash Management SA	1.650%	6/13/39	EUR	800		974
	Johnson & Johnson	0.250%	1/20/22	EUR	2,700		3,045
	Johnson & Johnson	0.650%	5/20/24	EUR	10,200		11,736
	Johnson & Johnson	1.150%	11/20/28	EUR	1,200		1,440
	Johnson & Johnson	1.650%	5/20/35	EUR	150		192
	Johnson Controls International plc	0.000%	12/4/20	EUR	3,300		3,682
	Johnson Controls International plc	1.000%	9/15/23	EUR	3,001		3,438
	Johnson Controls International plc	1.375%	2/25/25	EUR	15,965		18,496
	JPMorgan Chase & Co.	0.500%	12/4/23	CHF	42,600		44,471
	JPMorgan Chase & Co.	0.625%	1/25/24	EUR	2,600		2,965

128

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
1	JPMorgan Chase & Co.	1.090%	3/11/27	EUR	47,300		54,844
	JPMorgan Chase & Co.	1.375%	9/16/21	EUR	5,350		6,144
	JPMorgan Chase & Co.	1.500%	1/27/25	EUR	8,000		9,537
	JPMorgan Chase & Co.	1.500%	10/29/26	EUR	5,308		6,426
1	JPMorgan Chase & Co.	1.638%	5/18/28	EUR	7,000		8,436
	JPMorgan Chase & Co.	2.750%	2/1/23	EUR	3,000		3,643
	JPMorgan Chase & Co.	3.000%	2/19/26	EUR	5,600		7,325
	JPMorgan Chase & Co.	3.190%	3/5/21	CAD	270		208
	JPMorgan Chase & Co.	3.500%	12/18/26	GBP	5,000		7,408
	Kellogg Co.	1.250%	3/10/25	EUR	5,100		5,982
	Kinder Morgan Inc.	1.500%	3/16/22	EUR	7,400		8,541
	Kinder Morgan Inc.	2.250%	3/16/27	EUR	7,267		8,932
2	KKR Group Finance Co. V LLC	1.625%	5/22/29	EUR	3,000		3,516
	Kraft Heinz Foods Co.	1.500%	5/24/24	EUR	11,600		13,403
	Kraft Heinz Foods Co.	2.000%	6/30/23	EUR	5,000		5,864
	Liberty Mutual Group Inc.	2.750%	5/4/26	EUR	14,000		17,521
	LYB International Finance II BV	0.875%	9/17/26	EUR	9,000		10,004
	LYB International Finance II BV	1.625%	9/17/31	EUR	7,300		8,339
	LYB International Finance II BV	1.875%	3/2/22	EUR	15,500		17,924
	ManpowerGroup Inc.	1.750%	6/22/26	EUR	350		418
	ManpowerGroup Inc.	1.875%	9/11/22	EUR	100		117
	Mastercard Inc.	1.100%	12/1/22	EUR	12,850		14,811
	Mastercard Inc.	2.100%	12/1/27	EUR	8,140		10,461
	McDonald’s Corp.	0.625%	1/29/24	EUR	12,600		14,393
	McDonald’s Corp.	0.900%	6/15/26	EUR	100		116
	McDonald’s Corp.	1.000%	11/15/23	EUR	7,000		8,117
	McDonald’s Corp.	1.125%	5/26/22	EUR	200		230
	McDonald’s Corp.	1.500%	11/28/29	EUR	1,700		2,071
	McDonald’s Corp.	1.750%	5/3/28	EUR	16,300		20,350
	McDonald’s Corp.	1.875%	5/26/27	EUR	100		125
	McDonald’s Corp.	2.000%	6/1/23	EUR	1,500		1,798
	McDonald’s Corp.	2.375%	11/27/24	EUR	100		124
	McDonald’s Corp.	2.625%	6/11/29	EUR	100		132
	McDonald’s Corp.	3.000%	3/8/24	AUD	21,700		15,709
	McDonald’s Corp.	3.125%	3/4/25	CAD	10,000		7,837
	McDonald’s Corp.	4.125%	6/11/54	GBP	1,400		2,469
	McKesson Corp.	0.625%	8/17/21	EUR	4,250		4,788
	McKesson Corp.	1.500%	11/17/25	EUR	12,600		14,604
	McKesson Corp.	1.625%	10/30/26	EUR	200		235
	McKesson Corp.	3.125%	2/17/29	GBP	9,000		12,191
	Medtronic Global Holdings SCA	0.000%	3/7/21	EUR	7,500		8,382
	Medtronic Global Holdings SCA	0.250%	7/2/25	EUR	2,900		3,254
	Medtronic Global Holdings SCA	0.375%	3/7/23	EUR	3,700		4,180
	Medtronic Global Holdings SCA	1.000%	7/2/31	EUR	2,800		3,228
	Medtronic Global Holdings SCA	1.125%	3/7/27	EUR	3,100		3,661
	Medtronic Global Holdings SCA	1.500%	7/2/39	EUR	5,000		5,772
	Medtronic Global Holdings SCA	1.625%	3/7/31	EUR	18,100		22,342
	Medtronic Global Holdings SCA	1.750%	7/2/49	EUR	8,100		9,097
	Medtronic Global Holdings SCA	2.250%	3/7/39	EUR	3,100		4,050
	Merck & Co. Inc.	0.500%	11/2/24	EUR	9,920		11,364
	Merck & Co. Inc.	1.125%	10/15/21	EUR	7,600		8,672
	Merck & Co. Inc.	1.375%	11/2/36	EUR	2,400		2,950
	Merck & Co. Inc.	1.875%	10/15/26	EUR	3,300		4,122
	Merck & Co. Inc.	2.500%	10/15/34	EUR	5,260		7,448

129

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	MetLife Inc.	0.769%	5/23/29	JPY	1,400,000		13,214
	MetLife Inc.	5.375%	12/9/24	GBP	2,350		3,650
	Metropolitan Life Global Funding I	0.375%	4/9/24	EUR	7,000		7,890
	Metropolitan Life Global Funding I	0.875%	1/20/22	EUR	10,000		11,378
	Metropolitan Life Global Funding I	1.000%	9/19/22	CHF	3,000		3,168
	Metropolitan Life Global Funding I	1.125%	12/15/21	GBP	233		302
	Metropolitan Life Global Funding I	1.625%	6/9/22	GBP	3,000		3,923
	Metropolitan Life Global Funding I	2.375%	1/11/23	EUR	600		719
	Metropolitan Life Global Funding I	2.625%	12/5/22	GBP	2,150		2,902
	Metropolitan Life Global Funding I	4.000%	7/13/27	AUD	2,700		2,063
	Microsoft Corp.	2.125%	12/6/21	EUR	2,100		2,448
	Microsoft Corp.	2.625%	5/2/33	EUR	4,000		5,794
	Microsoft Corp.	3.125%	12/6/28	EUR	11,200		15,828
	Mohawk Industries Inc.	2.000%	1/14/22	EUR	8,100		9,370
	Molson Coors Brewing Co.	1.250%	7/15/24	EUR	15,300		17,663
	Molson Coors International LP	2.840%	7/15/23	CAD	5,000		3,809
	Molson Coors International LP	3.440%	7/15/26	CAD	2,850		2,182
	Mondelez International Inc.	1.000%	3/7/22	EUR	2,150		2,454
	Mondelez International Inc.	1.625%	1/20/23	EUR	5,800		6,790
	Mondelez International Inc.	1.625%	3/8/27	EUR	11,865		14,247
	Mondelez International Inc.	2.375%	3/6/35	EUR	1,162		1,528
	Mondelez International Inc.	3.250%	3/7/25	CAD	3,216		2,509
	Moody’s Corp.	1.750%	3/9/27	EUR	3,010		3,638
1	Morgan Stanley	0.637%	7/26/24	EUR	16,700		18,928
	Morgan Stanley	1.000%	12/2/22	EUR	29,290		33,595
1	Morgan Stanley	1.342%	10/23/26	EUR	13,500		15,828
	Morgan Stanley	1.375%	10/27/26	EUR	17,311		20,462
	Morgan Stanley	1.750%	3/11/24	EUR	11,150		13,274
	Morgan Stanley	1.750%	1/30/25	EUR	12,300		14,727
	Morgan Stanley	1.875%	3/30/23	EUR	3,000		3,546
	Morgan Stanley	1.875%	4/27/27	EUR	15,954		19,582
	Morgan Stanley	2.375%	3/31/21	EUR	7,200		8,313
	Morgan Stanley	2.625%	3/9/27	GBP	9,638		13,286
	Morgan Stanley	3.000%	2/7/24	CAD	9,990		7,719
	Morgan Stanley	3.125%	8/5/21	CAD	9,500		7,323
	Mylan NV	1.250%	11/23/20	EUR	12,000		13,525
	Mylan NV	3.125%	11/22/28	EUR	1,180		1,491
	Nasdaq Inc.	1.750%	3/28/29	EUR	2,300		2,766
	Nasdaq Inc.	3.875%	6/7/21	EUR	1,000		1,184
	National Grid North America Inc.	0.750%	2/11/22	EUR	10,800		12,245
	National Grid North America Inc.	0.750%	8/8/23	EUR	500		570
	National Grid North America Inc.	1.000%	7/12/24	EUR	500		576
	New York Life Global Funding	0.375%	2/2/22	CHF	3,000		3,102
	Omnicom Finance Holdings plc	0.800%	7/8/27	EUR	3,800		4,278
	Omnicom Finance Holdings plc	1.400%	7/8/31	EUR	4,500		5,204
	Oracle Corp.	2.250%	1/10/21	EUR	575		660
	Oracle Corp.	3.125%	7/10/25	EUR	1,000		1,306
	Parker-Hannifin Corp.	1.125%	3/1/25	EUR	4,500		5,176
	Parker-Hannifin Corp.	1.125%	3/1/25	EUR	10,000		11,521
	PartnerRe Ireland Finance DAC	1.250%	9/15/26	EUR	6,859		7,933
	PepsiCo Inc.	0.750%	3/18/27	EUR	2,000		2,329
	PepsiCo Inc.	0.875%	7/18/28	EUR	3,600		4,228
	PepsiCo Inc.	0.875%	10/16/39	EUR	4,900		5,390
	PepsiCo Inc.	1.125%	3/18/31	EUR	1,900		2,280

130

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
PepsiCo Inc.	1.750%	4/28/21	EUR	3,100		3,542
PepsiCo Inc.	2.150%	5/6/24	CAD	3,200		2,431
PepsiCo Inc.	2.500%	11/1/22	GBP	500		678
PerkinElmer Inc.	1.875%	7/19/26	EUR	4,600		5,324
Pfizer Inc.	0.250%	3/6/22	EUR	12,700		14,301
Pfizer Inc.	1.000%	3/6/27	EUR	3,400		4,001
Pfizer Inc.	2.735%	6/15/43	GBP	6,841		9,930
Philip Morris International Inc.	0.625%	11/8/24	EUR	1,000		1,129
Philip Morris International Inc.	0.800%	8/1/31	EUR	9,300		9,878
Philip Morris International Inc.	1.450%	8/1/39	EUR	6,200		6,532
Philip Morris International Inc.	1.875%	11/6/37	EUR	5,400		6,301
Philip Morris International Inc.	2.000%	5/9/36	EUR	8,000		9,673
Philip Morris International Inc.	2.875%	3/3/26	EUR	1,500		1,917
Philip Morris International Inc.	2.875%	5/14/29	EUR	2,500		3,279
Philip Morris International Inc.	3.125%	6/3/33	EUR	1,000		1,362
PPG Industries Inc.	0.875%	3/13/22	EUR	2,500		2,843
PPG Industries Inc.	0.875%	11/3/25	EUR	2,600		2,989
PPG Industries Inc.	1.400%	3/13/27	EUR	300		352
Praxair Inc.	1.200%	2/12/24	EUR	4,000		4,691
Praxair Inc.	1.625%	12/1/25	EUR	20,550		24,968
Procter & Gamble Co.	0.500%	10/25/24	EUR	3,000		3,435
Procter & Gamble Co.	0.625%	10/30/24	EUR	4,100		4,718
Procter & Gamble Co.	1.125%	11/2/23	EUR	11,620		13,602
Procter & Gamble Co.	1.200%	10/30/28	EUR	4,700		5,707
Procter & Gamble Co.	1.250%	10/25/29	EUR	7,000		8,522
Procter & Gamble Co.	1.375%	5/3/25	GBP	9,800		12,915
Procter & Gamble Co.	1.800%	5/3/29	GBP	12,625		17,224
Procter & Gamble Co.	1.875%	10/30/38	EUR	2,400		3,265
Procter & Gamble Co.	2.000%	11/5/21	EUR	4,000		4,664
Procter & Gamble Co.	2.000%	8/16/22	EUR	1,730		2,050
Procter & Gamble Co.	4.125%	12/7/20	EUR	2,250		2,629
Prologis Euro Finance LLC	0.250%	9/10/27	EUR	10,000		10,953
Prologis Euro Finance LLC	0.625%	9/10/31	EUR	6,050		6,598
Prologis Euro Finance LLC	1.500%	9/10/49	EUR	2,600		2,692
Prologis Euro Finance LLC	1.875%	1/5/29	EUR	4,060		5,057
Prologis International Funding II SA	1.750%	3/15/28	EUR	500		603
Prologis LP	1.375%	5/13/21	EUR	8,400		9,538
Prologis LP	2.250%	6/30/29	GBP	4,318		5,893
Prologis LP	3.000%	6/2/26	EUR	1,600		2,085
Prologis LP	3.375%	2/20/24	EUR	1,500		1,895
Schlumberger Finance France SAS	1.000%	2/18/26	EUR	3,400		3,995
Southern Power Co.	1.000%	6/20/22	EUR	25,600		29,240
Southern Power Co.	1.850%	6/20/26	EUR	10,200		12,491
Stryker Corp.	1.125%	11/30/23	EUR	2,300		2,675
Stryker Corp.	2.125%	11/30/27	EUR	1,900		2,415
Stryker Corp.	2.625%	11/30/30	EUR	2,100		2,810
Sysco Canada Inc.	3.650%	4/25/25	CAD	2,560		2,031
Thermo Fisher Scientific Inc.	0.125%	3/1/25	EUR	6,400		7,093
Thermo Fisher Scientific Inc.	0.500%	3/1/28	EUR	3,100		3,438
Thermo Fisher Scientific Inc.	0.750%	9/12/24	EUR	4,680		5,360
Thermo Fisher Scientific Inc.	1.375%	9/12/28	EUR	1,000		1,194
Thermo Fisher Scientific Inc.	1.400%	1/23/26	EUR	16,052		19,009
Thermo Fisher Scientific Inc.	1.500%	10/1/39	EUR	9,000		9,729
Thermo Fisher Scientific Inc.	1.875%	10/1/49	EUR	5,900		6,258

131

Total International Bond Index Fund

				Face		Market
		Maturity		Amount		Value·
	Coupon	Date	Currency	(000	)	($000	)
Thermo Fisher Scientific Inc.	2.000%	4/15/25	EUR	1,000		1,218
Thermo Fisher Scientific Inc.	2.150%	7/21/22	EUR	800		940
Thermo Fisher Scientific Inc.	2.875%	7/24/37	EUR	6,622		9,107
Time Warner Cable Inc.	5.750%	6/2/31	GBP	200		317
Time Warner Cable LLC	5.250%	7/15/42	GBP	5,800		8,897
Toyota Motor Credit Corp.	0.625%	11/21/24	EUR	200		229
Toyota Motor Credit Corp.	1.000%	3/9/21	EUR	5,000		5,661
Toyota Motor Credit Corp.	1.000%	9/27/22	GBP	6,900		8,924
Trillium Windpower LP	5.803%	2/15/33	CAD	1,227		1,084
Trinity Acquisition plc	2.125%	5/26/22	EUR	5,626		6,560
Tyco Electronics Group SA	1.100%	3/1/23	EUR	3,727		4,274
United Parcel Service Inc.	0.375%	11/15/23	EUR	7,400		8,358
United Parcel Service Inc.	1.500%	11/15/32	EUR	3,300		4,061
United Parcel Service Inc.	1.625%	11/15/25	EUR	11,900		14,384
United Parcel Service Inc.	2.125%	5/21/24	CAD	7,000		5,282
United Parcel Service Inc.	5.125%	2/12/50	GBP	1,350		2,865
United Technologies Corp.	1.125%	12/15/21	EUR	4,840		5,511
United Technologies Corp.	1.150%	5/18/24	EUR	6,000		6,964
United Technologies Corp.	1.250%	5/22/23	EUR	3,200		3,708
United Technologies Corp.	1.875%	2/22/26	EUR	1,760		2,150
US Bancorp	0.850%	6/7/24	EUR	14,843		17,099
Ventas Canada Finance Ltd.	2.550%	3/15/23	CAD	2,400		1,824
Ventas Canada Finance Ltd.	4.125%	9/30/24	CAD	1,200		966
Verizon Communications Inc.	0.500%	6/2/22	EUR	400		452
Verizon Communications Inc.	0.875%	4/2/25	EUR	4,900		5,666
Verizon Communications Inc.	0.875%	4/8/27	EUR	3,500		4,036
Verizon Communications Inc.	0.875%	3/19/32	EUR	10,100		11,282
Verizon Communications Inc.	1.250%	4/8/30	EUR	8,000		9,424
Verizon Communications Inc.	1.375%	10/27/26	EUR	7,000		8,365
Verizon Communications Inc.	1.375%	11/2/28	EUR	4,800		5,751
Verizon Communications Inc.	1.500%	9/19/39	EUR	8,500		9,403
Verizon Communications Inc.	1.875%	10/26/29	EUR	13,500		16,841
Verizon Communications Inc.	1.875%	9/19/30	GBP	1,600		2,063
Verizon Communications Inc.	2.375%	2/17/22	EUR	2,000		2,356
Verizon Communications Inc.	2.500%	4/8/31	GBP	811		1,114
Verizon Communications Inc.	2.625%	12/1/31	EUR	179		242
Verizon Communications Inc.	2.875%	1/15/38	EUR	15,400		21,134
Verizon Communications Inc.	3.125%	11/2/35	GBP	6,700		9,813
Verizon Communications Inc.	3.250%	2/17/26	EUR	2,600		3,444
Verizon Communications Inc.	3.375%	10/27/36	GBP	14,350		21,518
Verizon Communications Inc.	3.500%	2/17/23	AUD	6,380		4,642
Verizon Communications Inc.	4.050%	2/17/25	AUD	1,550		1,178
Verizon Communications Inc.	4.073%	6/18/24	GBP	2,000		2,941
Verizon Communications Inc.	4.500%	8/17/27	AUD	6,300		5,006
VF Corp.	0.625%	9/20/23	EUR	5,400		6,131
Wal-Mart Stores Inc.	1.900%	4/8/22	EUR	8,500		9,929
Wal-Mart Stores Inc.	2.550%	4/8/26	EUR	6,900		8,879
Wal-Mart Stores Inc.	4.875%	9/21/29	EUR	5,750		9,229
Wal-Mart Stores Inc.	5.250%	9/28/35	GBP	1,000		1,964
Wal-Mart Stores Inc.	5.625%	3/27/34	GBP	14,835		29,180
Walgreens Boots Alliance Inc.	2.875%	11/20/20	GBP	3,643		4,790
Walgreens Boots Alliance Inc.	3.600%	11/20/25	GBP	1,325		1,853
Walt Disney Co.	2.758%	10/7/24	CAD	15,325		11,964
Wells Fargo & Co.	0.500%	11/2/23	CHF	10,500		10,904

132

Total International Bond Index Fund

					Face		Market
			Maturity		Amount		Value·
		Coupon	Date	Currency	(000	)	($000	)
	Wells Fargo & Co.	0.500%	4/26/24	EUR	10,300		11,642
	Wells Fargo & Co.	1.000%	2/2/27	EUR	14,828		17,143
	Wells Fargo & Co.	1.125%	10/29/21	EUR	5,000		5,714
	Wells Fargo & Co.	1.375%	6/30/22	GBP	1,700		2,207
	Wells Fargo & Co.	1.375%	10/26/26	EUR	6,000		7,104
	Wells Fargo & Co.	1.500%	9/12/22	EUR	3,300		3,837
	Wells Fargo & Co.	1.500%	5/24/27	EUR	5,000		5,981
	Wells Fargo & Co.	1.625%	6/2/25	EUR	5,000		5,983
	Wells Fargo & Co.	2.000%	7/28/25	GBP	26,400		34,826
	Wells Fargo & Co.	2.000%	4/27/26	EUR	15,000		18,409
	Wells Fargo & Co.	2.125%	4/22/22	GBP	3,500		4,628
	Wells Fargo & Co.	2.222%	3/15/21	CAD	2,710		2,059
	Wells Fargo & Co.	2.250%	5/2/23	EUR	16,300		19,564
	Wells Fargo & Co.	2.509%	10/27/23	CAD	11,010		8,377
	Wells Fargo & Co.	2.625%	8/16/22	EUR	20,600		24,648
	Wells Fargo & Co.	2.975%	5/19/26	CAD	10,100		7,772
	Wells Fargo & Co.	3.000%	7/27/21	AUD	11,200		7,910
	Wells Fargo & Co.	3.184%	2/8/24	CAD	5,000		3,898
	Wells Fargo & Co.	3.250%	4/27/22	AUD	3,200		2,293
	Wells Fargo & Co.	3.500%	9/12/29	GBP	4,330		6,394
	Wells Fargo & Co.	3.874%	5/21/25	CAD	350		278
	Wells Fargo Bank NA	5.250%	8/1/23	GBP	7,350		10,785
	Wells Fargo Canada Corp.	3.040%	1/29/21	CAD	9,990		7,667
	Welltower Inc.	4.500%	12/1/34	GBP	4,800		7,609
	Welltower Inc.	4.800%	11/20/28	GBP	4,500		7,008
	Whirlpool Finance Luxembourg Sarl	1.100%	11/9/27	EUR	3,600		4,167
	Whirlpool Finance Luxembourg Sarl	1.250%	11/2/26	EUR	10,700		12,593
	WPC Eurobond BV	2.125%	4/15/27	EUR	21,434		25,346
	WPC Eurobond BV	2.250%	7/19/24	EUR	6,300		7,585
	WPC Eurobond BV	2.250%	4/9/26	EUR	14,100		16,897
1	XLIT Ltd.	3.250%	6/29/47	EUR	13,300		16,484
	Xylem Inc.	2.250%	3/11/23	EUR	3,800		4,489
	Zimmer Biomet Holdings Inc.	1.414%	12/13/22	EUR	5,900		6,824
	Zimmer Biomet Holdings Inc.	2.425%	12/13/26	EUR	5,000		6,149
							4,347,646
U.S. Government and Agency Obligations (0.0%)
	Tennessee Valley Authority	5.625%	6/7/32	GBP	1,400		2,672
Total United States (Cost $4,232,192)							4,350,318
					Shares
Temporary Cash Investments (0.6%)
Money Market Fund (0.6%)
17	Vanguard Market Liquidity Fund (Cost $789,560)	1.984%		USD	7,895,031		789,582
Total Investments (99.1%) (Cost $133,146,408)							139,137,372

133

Total International Bond Index Fund

	Amount
	($000)
Other Assets and Liabilities (0.9%)
Other Assets
Investment in Vanguard	6,585
Receivables for Investment Securities Sold	760,029
Receivables for Accrued Income	900,167
Receivables for Capital Shares Issued	1,025,776
Variation Margin Receivable—Futures Contracts	1,577
Unrealized Appreciation—Forward Currency Contracts	151,002
Other Assets	1,592,545
Total Other Assets	4,437,681
Liabilities
Payables for Investment Securities Purchased	(450,247)
Payables for Capital Shares Redeemed	(39,741)
Payables for Distributions	(2,063)
Payables to Vanguard	(15,162)
Variation Margin Payable—Futures Contracts	(602)
Unrealized Depreciation—Forward Currency Contracts	(2,617,876)
Total Liabilities	(3,125,691)
Net Assets (100%)	140,449,362
At October 31, 2019, net assets consisted of:
	Amount
	($000)
Paid-in Capital	129,057,115
Total Distributable Earnings (Loss)	11,392,247
Net Assets	140,449,362
Investor Shares—Net Assets
Applicable to 2,573,697,821 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	30,053,248
Net Asset Value Per Share—Investor Shares	$11.68
ETF Shares—Net Assets
Applicable to 409,827,897 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	23,910,832
Net Asset Value Per Share—ETF Shares	$58.34
Admiral Shares—Net Assets
Applicable to 2,222,532,631 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	51,888,792
Net Asset Value Per Share—Admiral Shares	$23.35

134

Total International Bond Index Fund

	Amount
	($000)
Institutional Shares—Net Assets
Applicable to 987,520,663 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	34,596,490
Net Asset Value Per Share—Institutional Shares	$35.03

· See Note A in Notes to Financial Statements.

1 The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.

2 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At October 31, 2019, the aggregate value of these securities was $18,146,834,000, representing 12.9% of net assets.

3 Guaranteed by the Republic of Austria.

4 Guaranteed by multiple countries.

5 Guaranteed by the Government of Canada.

6 Guaranteed by the Republic of Finland.

7 Guaranteed by the Republic of France.

8 Guaranteed by the Federal Republic of Germany.

9 Securities with a value of $1,856,555,000 have been segregated as collateral for open forward currency contracts.

10 Securities with a value of $4,204,000 have been segregated as initial margin for open futures contracts.

11 Guaranteed by the Government of Japan.

12 Guaranteed by the Republic of Poland.

13 Guaranteed by the Kingdom of Spain.

14 Scheduled principal and interest payments are guaranteed by Municipal Bond Insurance Association.

15 Scheduled principal and interest payments are guaranteed by AMBAC (Ambac Assuarance Corporation).

16 Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp.

17 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

REIT—Real Estate Investment Trust.

AUD—Australian dollar.

CAD—Canadian dollar.

CHF—Swiss franc.

CNH—Chinese yuan (offshore).

CZK—Czech koruna.

DKK—Danish krone.

EUR—euro.

GBP—British pound.

HKD—Hong Kong dollar.

HUF—Hungarian forint.

IDR—Indonesian rupiah.

ILS—Israeli shekel.

JPY—Japanese yen.

KRW—Korean won.

MXN—Mexican peso.

MYR—Malaysian ringgit.

NOK—Norwegian krone.

NZD—New Zealand dollar.

PLN—Polish zloty.

RUB—Russian ruble.

SEK—Swedish krona.

SGD—Singapore dollar.

THB—Thai baht.

USD—U.S. dollar.

135

Total International Bond Index Fund

Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
						($000	)
						Value and
		Number of				Unrealized
		Long (Short	)	Notional		Appreciation
	Expiration	Contracts		Amount		(Depreciation	)
Long Futures Contracts
10-Year U.S. Treasury Note	December 2019	620		80,784		(799	)
Ultra Long U.S. Treasury Bond	December 2019	241		45,730		(763	)
5-Year U.S. Treasury Note	December 2019	248		29,562		(172	)
30-Year U.S. Treasury Bond	December 2019	69		11,135		(11	)
AUD 3-Year Treasury Bond	December 2019	103		8,191		6
						(1,739	)
Short Futures Contracts
10-Year Japanese Government Bond	December 2019	(216	)	(307,929	)	1,760
						21

Forward Currency Contracts
	Contract					Unrealized		Unrealized
	Settlement	Contract Amount (000)				Appreciation		(Depreciation	)
Counterparty	Date	Receive		Deliver		($000	)	($000	)
Citigroup Global Markets Inc.	11/4/19	EUR	9,000,000	USD	10,040,850	—		(452	)
Toronto-Dominion Bank	11/4/19	EUR	8,770,000	USD	9,784,261	—		(451	)
Bank of America, N.A.	11/4/19	EUR	8,000,000	USD	8,925,200	—		(402	)
J.P. Morgan Securities LLC	11/4/19	GBP	6,739,017	USD	8,720,288	10,208		—
State Street Bank & Trust Co.	11/4/19	EUR	7,000,000	USD	7,809,550	—		(353	)
Deutsche Bank AG	11/4/19	EUR	6,927,617	USD	7,728,796	—		(348	)
Barclays Bank plc	11/4/19	EUR	5,952,000	USD	6,640,349	—		(300	)
Citigroup Global Markets Inc.	11/5/19	JPY	683,024,738	USD	6,318,161	8,538		—
Morgan Stanley Capital Services LLC	11/5/19	JPY	648,000,000	USD	5,994,173	8,100		—
Royal Bank of Canada	11/4/19	CAD	7,329,986	USD	5,576,888	—		(11,604	)
Morgan Stanley Capital Services LLC	11/4/19	EUR	4,000,000	USD	4,462,600	—		(201	)
UBS AG	11/4/19	EUR	4,000,000	USD	4,462,600	—		(201	)
Royal Bank of Canada	11/4/19	EUR	4,000,000	USD	4,462,600	—		(202	)
Morgan Stanley Capital Services LLC	11/4/19	KRW	4,391,598,645	USD	3,761,057	13,882		—
BNP Paribas	11/4/19	EUR	3,000,000	USD	3,346,950	—		(151	)
BNP Paribas	11/5/19	JPY	332,000,000	USD	3,071,088	4,150		—
HSBC Bank USA, N.A.	11/5/19	JPY	324,000,000	USD	2,997,086	4,050		—

136

Total International Bond Index Fund

Forward Currency Contracts (continued)
	Contract					Unrealized		Unrealized
	Settlement	Contract Amount (000)				Appreciation		(Depreciation	)
Counterparty	Date	Receive		Deliver		($000	)	($000	)
Toronto-Dominion Bank	11/4/19	GBP	2,250,000	USD	2,911,500	3,408		—
Deutsche Bank AG	11/5/19	JPY	258,000,000	USD	2,386,569	3,225		—
J.P. Morgan Securities LLC	11/4/19	EUR	2,064,649	USD	2,303,426	—		(104	)
HSBC Bank USA, N.A.	11/4/19	EUR	2,000,000	USD	2,231,300	—		(101	)
Royal Bank of Canada	11/5/19	JPY	216,000,000	USD	1,998,058	2,700		—
State Street Bank & Trust Co.	11/5/19	JPY	216,000,000	USD	1,998,057	2,700		—
Toronto-Dominion Bank	11/4/19	CAD	2,400,000	USD	1,826,009	—		(3,811	)
J.P. Morgan Securities LLC	11/4/19	CHF	1,719,329	USD	1,742,180	1,187		—
Morgan Stanley Capital Services LLC	11/4/19	SEK	12,591,545	USD	1,303,216	1,116		—
Goldman Sachs Bank USA	11/4/19	EUR	1,000,000	USD	1,115,650	—		(51	)
Toronto-Dominion Bank	11/5/19	JPY	108,000,000	USD	999,029	1,350		—
Bank of America, N.A.	11/5/19	JPY	108,000,000	USD	999,029	1,350		—
UBS AG	11/5/19	JPY	108,000,000	USD	999,029	1,350		—
Standard Chartered Bank	11/4/19	IDR	12,928,441,248	USD	920,829	—		(169	)
Royal Bank of Canada	11/4/19	MXN	17,474,547	USD	911,462	—		(3,626	)
BNP Paribas	11/4/19	MYR	3,696,575	USD	883,607	980		—
State Street Bank & Trust Co.	11/4/19	AUD	1,255,000	USD	864,632	597		—
BNP Paribas	11/4/19	THB	25,578,816	USD	847,542	—		(393	)
J.P. Morgan Securities LLC	11/4/19	CAD	1,000,000	USD	760,832	—		(1,583	)
UBS AG	11/4/19	AUD	1,048,000	USD	722,020	499		—
Toronto-Dominion Bank	11/4/19	DKK	4,568,700	USD	682,541	—		(328	)
Toronto-Dominion Bank	11/4/19	EUR	577,351	USD	643,401	691		—
Bank of America, N.A.	11/5/19	PLN	2,455,503	USD	642,718	—		(7	)
Deutsche Bank AG	11/4/19	CNH	4,506,190	USD	639,811	—		(509	)
Citigroup Global Markets Inc.	11/4/19	SGD	814,641	USD	598,428	398		—
Morgan Stanley Capital Services LLC	11/1/19	RUB	29,582,500	USD	463,095	—		(1,751	)
J.P. Morgan Securities LLC	11/4/19	AUD	668,000	USD	459,662	875		—
Barclays Bank plc	11/4/19	AUD	652,000	USD	449,195	310		—
Deutsche Bank AG	11/4/19	AUD	620,538	USD	427,520	295		—
Bank of America, N.A.	11/4/19	ILS	1,347,569	USD	381,856	568		—
BNP Paribas	11/4/19	AUD	535,000	USD	368,588	255		—
Royal Bank of Canada	11/4/19	EUR	313,411	USD	342,635	7,006		—
J.P. Morgan Securities LLC	11/4/19	THB	9,067,500	USD	300,000	308		—
BNP Paribas	11/4/19	CZK	6,510,000	USD	284,404	89		—
Bank of America, N.A.	11/4/19	AUD	409,000	USD	281,781	195		—

137

Total International Bond Index Fund

Forward Currency Contracts (continued)
	Contract					Unrealized		Unrealized
	Settlement	Contract Amount (000)				Appreciation		(Depreciation	)
Counterparty	Date	Receive		Deliver		($000	)	($000	)
Morgan Stanley Capital Services LLC	11/4/19	NOK	2,460,356	USD	267,238	308		—
J.P. Morgan Securities LLC	12/3/19	GBP	190,000	USD	246,078	301		—
BNP Paribas	11/5/19	JPY	24,845,458	USD	230,505	—		(368	)
Toronto-Dominion Bank	12/3/19	EUR	200,000	USD	223,465	88		—
Citigroup Global Markets Inc.	11/4/19	AUD	293,000	USD	201,862	139		—
BNP Paribas	11/4/19	CNH	1,413,200	USD	199,985	508		—
Royal Bank of Canada	11/4/19	CNH	1,411,660	USD	199,238	1,037		—
BNP Paribas	11/5/19	HUF	57,378,251	USD	194,665	144		—
State Street Bank & Trust Co.	11/4/19	NZD	268,879	USD	172,432	—		(27	)
BNP Paribas	11/4/19	NZD	260,000	USD	166,738	—		(26	)
BNP Paribas	12/3/19	JPY	16,091,893	USD	149,079	230		—
Toronto-Dominion Bank	12/3/19	EUR	100,000	USD	111,798	—		(23	)
Royal Bank of Canada	11/4/19	AUD	154,000	USD	106,098	73		—
J.P. Morgan Securities LLC	11/5/19	JPY	7,540,000	USD	69,766	76		—
Royal Bank of Canada	11/4/19	CAD	80,000	USD	60,466	274		—
Morgan Stanley Capital Services LLC	11/4/19	EUR	50,000	USD	54,616	1,164		—
State Street Bank & Trust Co.	11/4/19	HKD	351,500	USD	44,847	9		—
J.P. Morgan Securities LLC	12/3/19	JPY	4,418,107	USD	40,934	60		—
J.P. Morgan Securities LLC	12/3/19	CHF	40,000	USD	40,625	24		—
Citigroup Global Markets Inc.	12/3/19	CAD	50,000	USD	38,051	—		(86	)
J.P. Morgan Securities LLC	11/5/19	JPY	2,399,801	USD	22,254	—		(25	)
Citigroup Global Markets Inc.	11/5/19	JPY	2,065,597	USD	19,155	—		(22	)
J.P. Morgan Securities LLC	11/4/19	EUR	16,589	USD	18,131	376		—
J.P. Morgan Securities LLC	12/3/19	DKK	110,000	USD	16,464	—		(2	)
J.P. Morgan Securities LLC	12/3/19	AUD	20,000	USD	13,790	9		—
Standard Chartered Bank	11/4/19	IDR	181,349,524	USD	12,799	115		—
J.P. Morgan Securities LLC	12/3/19	SEK	110,000	USD	11,436	—		(22	)
Royal Bank of Canada	11/5/19	JPY	1,009,144	USD	9,358	—		(11	)
Royal Bank of Canada	11/4/19	SEK	70,000	USD	7,135	116		—
Citigroup Global Markets Inc.	11/4/19	USD	12,021,726	EUR	11,000,000	—		(249,872	)
HSBC Bank USA, N.A.	11/4/19	USD	10,928,718	EUR	10,000,000	—		(227,278	)
Citigroup Global Markets Inc.	12/3/19	USD	10,059,662	EUR	9,000,000	—		(188	)

138

Total International Bond Index Fund

Forward Currency Contracts (continued)
	Contract					Unrealized		Unrealized
	Settlement	Contract Amount (000)				Appreciation		(Depreciation	)
Counterparty	Date	Receive		Deliver		($000	)	($000	)
Toronto-Dominion Bank	12/3/19	USD	9,690,788	EUR	8,670,000	—		(201	)
State Street Bank & Trust Co.	11/4/19	USD	9,289,249	EUR	8,500,000	—		(193,347	)
Bank of America, N.A.	12/3/19	USD	8,942,030	EUR	8,000,000	—		(62	)
BNP Paribas	11/4/19	USD	8,852,212	EUR	8,100,000	—		(184,145	)
J.P. Morgan Securities LLC	12/3/19	USD	8,728,143	GBP	6,739,017	—		(10,562	)
Toronto-Dominion Bank	11/4/19	USD	7,838,462	EUR	7,171,617	—		(162,191	)
State Street Bank & Trust Co.	12/3/19	USD	7,824,325	EUR	7,000,000	—		(5	)
Deutsche Bank AG	12/3/19	USD	7,743,252	EUR	6,927,617	—		(169	)
UBS AG	11/4/19	USD	7,650,006	EUR	7,000,000	—		(159,193	)
Morgan Stanley Capital Services LLC	11/4/19	USD	7,291,300	GBP	5,909,017	—		(363,919	)
Citigroup Global Markets Inc.	12/3/19	USD	6,328,316	JPY	683,024,738	—		(9,150	)
Morgan Stanley Capital Services LLC	12/3/19	USD	6,003,947	JPY	648,000,000	—		(8,539	)
Toronto-Dominion Bank	11/5/19	USD	5,953,524	JPY	642,000,000	6,828		—
Royal Bank of Canada	12/3/19	USD	5,577,266	CAD	7,329,986	11,534		—
Royal Bank of Canada	12/3/19	USD	4,471,068	EUR	4,000,000	23		—
UBS AG	12/3/19	USD	4,470,996	EUR	4,000,000	—		(48	)
Morgan Stanley Capital Services LLC	12/3/19	USD	4,470,981	EUR	4,000,000	—		(63	)
Barclays Bank plc	12/3/19	USD	4,417,293	EUR	3,952,000	—		(100	)
Goldman Sachs Bank USA	11/4/19	USD	4,371,664	EUR	4,000,000	—		(90,735	)
Bank of America, N.A.	11/4/19	USD	4,371,603	EUR	4,000,000	—		(90,795	)
Royal Bank of Canada	11/4/19	USD	4,042,854	CAD	5,350,000	—		(19,130	)
Morgan Stanley Capital Services LLC	11/5/19	USD	3,969,087	JPY	428,000,000	4,623		—
Morgan Stanley Capital Services LLC	12/3/19	USD	3,763,207	KRW	4,391,598,645	—		(14,090	)
BNP Paribas	11/4/19	USD	3,612,620	KRW	4,335,036,645	—		(113,698	)
Toronto-Dominion Bank	11/4/19	USD	3,553,692	GBP	2,880,000	—		(177,390	)
Bank of America, N.A.	11/5/19	USD	3,374,560	JPY	363,884,738	3,981		—
BNP Paribas	12/3/19	USD	3,353,212	EUR	3,000,000	—		(72	)
Barclays Bank plc	11/4/19	USD	3,278,683	EUR	3,000,000	—		(68,116	)
BNP Paribas	12/3/19	USD	3,076,123	JPY	332,000,000	—		(4,349	)
HSBC Bank USA, N.A.	12/3/19	USD	3,001,978	JPY	324,000,000	—		(4,265	)
UBS AG	11/5/19	USD	2,976,780	JPY	321,000,000	3,432		—
Citigroup Global Markets Inc.	11/5/19	USD	2,976,700	JPY	321,000,000	3,352		—
Toronto-Dominion Bank	12/3/19	USD	2,914,088	GBP	2,250,000	—		(3,561	)
HSBC Bank USA, N.A.	11/4/19	USD	2,523,929	CAD	3,339,986	—		(11,952	)

139

Total International Bond Index Fund

Forward Currency Contracts (continued)
	Contract					Unrealized		Unrealized
	Settlement	Contract Amount (000)				Appreciation		(Depreciation	)
Counterparty	Date	Receive		Deliver		($000	)	($000	)
Deutsche Bank AG	12/3/19	USD	2,390,449	JPY	258,000,000	—		(3,411	)
J.P. Morgan Securities LLC	12/3/19	USD	2,293,623	EUR	2,052,000	—		(23	)
HSBC Bank USA, N.A.	12/3/19	USD	2,235,550	EUR	2,000,000	28		—
Barclays Bank plc	12/3/19	USD	2,235,526	EUR	2,000,000	4		—
Morgan Stanley Capital Services LLC	11/4/19	USD	2,230,070	EUR	2,040,000	—		(45,754	)
Deutsche Bank AG	11/4/19	USD	2,185,847	EUR	2,000,000	—		(45,352	)
State Street Bank & Trust Co.	12/3/19	USD	2,001,357	JPY	216,000,000	—		(2,805	)
Royal Bank of Canada	12/3/19	USD	2,001,270	JPY	216,000,000	—		(2,892	)
HSBC Bank USA, N.A.	11/5/19	USD	1,984,582	JPY	214,000,000	2,350		—
State Street Bank & Trust Co.	11/5/19	USD	1,984,471	JPY	214,000,000	2,239		—
Toronto-Dominion Bank	12/3/19	USD	1,826,106	CAD	2,400,000	3,762		—
J.P. Morgan Securities LLC	12/3/19	USD	1,715,664	CHF	1,689,329	—		(1,061	)
J.P. Morgan Securities LLC	11/4/19	USD	1,688,937	CHF	1,679,329	—		(13,871	)
Morgan Stanley Capital Services LLC	12/3/19	USD	1,305,239	SEK	12,591,545	—		(1,216	)
Bank of America, N.A.	11/4/19	USD	1,253,907	SEK	12,271,545	—		(17,278	)
Goldman Sachs Bank USA	12/3/19	USD	1,117,742	EUR	1,000,000	—		(19	)
BNP Paribas	11/4/19	USD	1,117,534	THB	34,223,316	—		(15,914	)
Royal Bank of Canada	11/4/19	USD	1,092,824	EUR	1,000,000	—		(22,776	)
UBS AG	12/3/19	USD	1,000,676	JPY	108,000,000	—		(1,405	)
Toronto-Dominion Bank	12/3/19	USD	1,000,640	JPY	108,000,000	—		(1,441	)
Bank of America, N.A.	12/3/19	USD	1,000,635	JPY	108,000,000	—		(1,446	)
BNP Paribas	11/5/19	USD	992,330	JPY	107,000,000	1,214		—
Royal Bank of Canada	11/5/19	USD	992,282	JPY	107,000,000	1,166		—
Deutsche Bank AG	11/5/19	USD	992,236	JPY	107,000,000	1,121		—
Goldman Sachs Bank USA	11/5/19	USD	992,234	JPY	107,000,000	1,118		—
Barclays Bank plc	11/5/19	USD	992,221	JPY	107,000,000	1,105		—
Standard Chartered Bank	11/4/19	USD	920,725	IDR	13,109,790,772	—		(12,848	)
Standard Chartered Bank	12/3/19	USD	917,738	IDR	12,928,441,248	—		(247	)
Royal Bank of Canada	12/3/19	USD	907,283	MXN	17,474,547	3,578		—
BNP Paribas	12/3/19	USD	882,366	MYR	3,693,805	—		(1,001	)
BNP Paribas	11/4/19	USD	880,834	MYR	3,696,575	—		(3,752	)
State Street Bank & Trust Co.	12/3/19	USD	865,299	AUD	1,255,000	—		(614	)
J.P. Morgan Securities LLC	11/4/19	USD	852,480	MXN	16,924,547	—		(26,782	)
BNP Paribas	12/3/19	USD	847,570	THB	25,578,816	198		—
Deutsche Bank AG	11/4/19	USD	827,459	CNH	5,906,850	—		(10,557	)
State Street Bank & Trust Co.	11/4/19	USD	810,254	AUD	1,200,000	—		(17,057	)

140

Total International Bond Index Fund

Forward Currency Contracts (continued)
	Contract					Unrealized		Unrealized
	Settlement	Contract Amount (000)				Appreciation		(Depreciation	)
Counterparty	Date	Receive		Deliver		($000	)	($000	)
J.P. Morgan Securities LLC	12/3/19	USD	760,882	CAD	1,000,000	1,571		—
Barclays Bank plc	11/4/19	USD	755,673	CAD	1,000,000	—		(3,576	)
Toronto-Dominion Bank	11/4/19	USD	755,664	CAD	1,000,000	—		(3,585	)
UBS AG	12/3/19	USD	722,575	AUD	1,048,000	—		(514	)
UBS AG	11/4/19	USD	688,714	AUD	1,020,000	—		(14,500	)
Toronto-Dominion Bank	12/3/19	USD	683,958	DKK	4,568,700	265		—
Morgan Stanley Capital Services LLC	11/4/19	USD	668,855	DKK	4,568,700	—		(13,359	)
Bank of America, N.A.	12/3/19	USD	642,823	PLN	2,455,503	—		(2	)
Deutsche Bank AG	12/3/19	USD	639,309	CNH	4,506,190	540		—
Citigroup Global Markets Inc.	11/4/19	USD	600,952	AUD	890,000	—		(12,637	)
Citigroup Global Markets Inc.	12/3/19	USD	598,593	SGD	814,641	—		(410	)
Bank of America, N.A.	11/5/19	USD	597,778	PLN	2,395,503	—		(29,229	)
HSBC Bank USA, N.A.	11/4/19	USD	589,291	SGD	814,641	—		(9,536	)
Morgan Stanley Capital Services LLC	12/2/19	USD	461,225	RUB	29,582,500	1,898		—
Barclays Bank plc	12/3/19	USD	449,549	AUD	652,000	—		(312	)
Morgan Stanley Capital Services LLC	11/1/19	USD	446,942	RUB	28,882,500	—		(3,486	)
J.P. Morgan Securities LLC	12/3/19	USD	439,889	AUD	638,000	—		(312	)
Barclays Bank plc	11/4/19	USD	438,893	AUD	650,000	—		(9,234	)
Deutsche Bank AG	12/3/19	USD	427,862	AUD	620,538	—		(291	)
Toronto-Dominion Bank	11/4/19	USD	416,975	AUD	617,538	—		(8,771	)
Deutsche Bank AG	11/4/19	USD	388,354	ILS	1,347,569	5,930		—
Bank of America, N.A.	12/3/19	USD	382,392	ILS	1,347,569	—		(587	)
BNP Paribas	12/3/19	USD	368,879	AUD	535,000	—		(255	)
J.P. Morgan Securities LLC	11/4/19	USD	337,606	AUD	500,000	—		(7,107	)
J.P. Morgan Securities LLC	12/3/19	USD	300,030	THB	9,067,500	—		(357	)
BNP Paribas	12/3/19	USD	284,431	CZK	6,510,000	—		(120	)
Bank of America, N.A.	12/3/19	USD	282,004	AUD	409,000	—		(194	)
Bank of America, N.A.	11/4/19	USD	274,994	CZK	6,510,000	—		(9,499	)
Royal Bank of Canada	11/4/19	USD	270,944	NOK	2,460,356	3,397		—
Bank of America, N.A.	11/4/19	USD	270,092	AUD	400,000	—		(5,678	)
Morgan Stanley Capital Services LLC	12/3/19	USD	267,278	NOK	2,460,356	—		(311	)
Toronto-Dominion Bank	12/3/19	USD	223,569	EUR	200,000	16		—
Citigroup Global Markets Inc.	12/3/19	USD	202,022	AUD	293,000	—		(139	)
J.P. Morgan Securities LLC	11/4/19	USD	199,902	CNH	1,424,200	—		(2,152	)
BNP Paribas	12/3/19	USD	199,843	CNH	1,413,200	—		(483	)

141

Total International Bond Index Fund

Forward Currency Contracts (continued)
	Contract					Unrealized		Unrealized
	Settlement	Contract Amount (000)				Appreciation		(Depreciation	)
Counterparty	Date	Receive		Deliver		($000	)	($000	)
Royal Bank of Canada	12/3/19	USD	199,109	CNH	1,411,660	—		(1,000	)
BNP Paribas	12/3/19	USD	194,928	HUF	57,378,251	—		(157	)
BNP Paribas	11/5/19	USD	187,089	HUF	57,378,251	—		(7,720	)
Barclays Bank plc	11/4/19	USD	181,975	NZD	290,000	—		(3,973	)
State Street Bank & Trust Co.	12/3/19	USD	172,528	NZD	268,879	29		—
BNP Paribas	12/3/19	USD	166,824	NZD	260,000	22		—
BNP Paribas	11/4/19	USD	148,069	GBP	120,000	—		(7,393	)
BNP Paribas	11/4/19	USD	122,888	AUD	182,000	—		(2,587	)
BNP Paribas	11/4/19	USD	112,254	NZD	178,879	—		(2,444	)
Royal Bank of Canada	12/3/19	USD	106,181	AUD	154,000	—		(74	)
Royal Bank of Canada	11/4/19	USD	104,658	AUD	155,000	—		(2,203	)
Bank of Montreal	11/4/19	USD	90,697	CAD	120,000	—		(412	)
J.P. Morgan Securities LLC	11/4/19	USD	86,494	GBP	70,000	—		(4,193	)
State Street Bank & Trust Co.	11/4/19	USD	44,865	HKD	351,500	9		—
State Street Bank & Trust Co.	12/3/19	USD	44,842	HKD	351,500	—		(7	)
Toronto-Dominion Bank	11/4/19	USD	40,527	SEK	390,000	128		—
Morgan Stanley Capital Services LLC	11/4/19	USD	40,227	CHF	40,000	—		(332	)
J.P. Morgan Securities LLC	11/4/19	USD	27,580	KRW	33,000,000	—		(787	)
Morgan Stanley Capital Services LLC	11/4/19	USD	19,689	KRW	23,562,000	—		(565	)
Bank of Montreal	11/4/19	USD	18,925	NZD	30,000	—		(311	)
Morgan Stanley Capital Services LLC	11/4/19	USD	18,825	NZD	30,000	—		(411	)
J.P. Morgan Securities LLC	12/2/19	USD	15,386	RUB	990,000	14		—
BNP Paribas	11/5/19	USD	15,221	PLN	60,000	—		(483	)
HSBC Bank USA, N.A.	11/4/19	USD	15,120	MXN	290,000	54		—
Standard Chartered Bank	11/4/19	USD	13,810	THB	423,000	—		(200	)
Bank of Montreal	11/4/19	USD	13,520	AUD	20,000	—		(268	)
Royal Bank of Canada	11/4/19	USD	13,095	MXN	260,000	—		(412	)
Royal Bank of Canada	11/4/19	USD	12,239	GBP	10,000	—		(717	)
J.P. Morgan Securities LLC	12/3/19	USD	10,902	MXN	210,000	42		—
J.P. Morgan Securities LLC	11/1/19	USD	10,743	RUB	700,000	—		(174	)
						151,002		(2,617,876	)

See accompanying Notes, which are an integral part of the Financial Statements.

142

Total International Bond Index Fund

Statement of Operations

	Year Ended
	October 31, 2019
	($000	)
Investment Income
Income
Interest1,2	1,497,268
Total Income	1,497,268
Expenses
The Vanguard Group—Note B
Investment Advisory Services	4,424
Management and Administrative—Investor Shares	31,986
Management and Administrative—ETF Shares	9,954
Management and Administrative—Admiral Shares	46,234
Management and Administrative—Institutional Shares	18,564
Marketing and Distribution—Investor Shares	2,572
Marketing and Distribution—ETF Shares	971
Marketing and Distribution—Admiral Shares	2,690
Marketing and Distribution—Institutional Shares	1,064
Custodian Fees	4,554
Auditing Fees	155
Shareholders’ Reports—Investor Shares	214
Shareholders’ Reports—ETF Shares	1,132
Shareholders’ Reports—Admiral Shares	664
Shareholders’ Reports—Institutional Shares	9
Trustees’ Fees and Expenses	57
Total Expenses	125,244
Net Investment Income	1,372,024
Realized Net Gain (Loss)
Investment Securities Sold2	(379,616	)
Futures Contracts	(446	)
Forward Currency Contracts	7,478,123
Foreign Currencies	(72,183	)
Realized Net Gain (Loss)	7,025,878
Change in Unrealized Appreciation (Depreciation)
Investment Securities2	8,364,427
Futures Contracts	100
Forward Currency Contracts	(4,643,687	)
Foreign Currencies	56,648
Change in Unrealized Appreciation (Depreciation)	3,777,488
Net Increase (Decrease) in Net Assets Resulting from Operations	12,175,390

1 Interest Income is net of foreign withholding taxes of $6,945,000.

2Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $9,104,000, $82,000, and $7,000, respectively. Purchases and sales are for temporary cash investment purposes.

See accompanying Notes, which are an integral part of the Financial Statements.

143

Total International Bond Index Fund

Statement of Changes in Net Assets

	Year Ended October 31,
	2019		2018
	($000	)	($000	)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	1,372,024		1,115,109
Realized Net Gain (Loss)	7,025,878		4,289,175
Change in Unrealized Appreciation (Depreciation)	3,777,488		(3,628,060	)
Net Increase (Decrease) in Net Assets Resulting from Operations	12,175,390		1,776,224
Distributions
Net Investment Income
Investor Shares	(821,618	)	(585,484	)
ETF Shares	(430,228	)	(220,281	)
Admiral Shares	(1,363,556	)	(863,631	)
Institutional Shares	(889,172	)	(585,371	)
Realized Capital Gain
Investor Shares	—		—
ETF Shares	—		—
Admiral Shares	—		—
Institutional Shares	—		—
Total Distributions	(3,504,574	)	(2,254,767	)
Capital Share Transactions
Investor Shares	799,480		1,826,036
ETF Shares	10,659,238		3,624,970
Admiral Shares	4,958,823		7,668,085
Institutional Shares	4,222,942		3,953,708
Net Increase (Decrease) from Capital Share Transactions	20,640,483		17,072,799
Total Increase (Decrease)	29,311,299		16,594,256
Net Assets
Beginning of Period	111,138,063		94,543,807
End of Period	140,449,362		111,138,063

See accompanying Notes, which are an integral part of the Financial Statements.

144

Total International Bond Index Fund

Financial Highlights

Investor Shares

For a Share Outstanding	Year Ended October 31,
Throughout Each Period	2019		2018		2017		2016		2015
Net Asset Value, Beginning of Period	$10.90		$10.96		$11.02		$10.61		$10.45
Investment Operations
Net Investment Income	.121	1	.113	1	.114	1	.135		.141
Net Realized and Unrealized Gain (Loss) on Investments	.988		.068		.011		.432		.176
Total from Investment Operations	1.109		.181		.125		.567		.317
Distributions
Dividends from Net Investment Income	(.329	)	(.241	)	(.185	)	(.157	)	(.157	)
Distributions from Realized Capital Gains	—		—		—		—		—
Total Distributions	(.329	)	(.241	)	(.185	)	(.157	)	(.157	)
Net Asset Value, End of Period	$11.68		$10.90		$10.96		$11.02		$10.61
Total Return2	10.39%		1.68%		1.16%		5.38%		3.04%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$30,053		$27,299		$25,603		$21,521		$20,434
Ratio of Total Expenses to Average Net Assets	0.13%		0.13%		0.13%		0.15%		0.17%
Ratio of Net Investment Income to Average Net Assets	1.07%		1.03%		1.05%		1.18%		1.32%
Portfolio Turnover Rate	26%		22%		19%		20%		13%

1 Calculated based on average shares outstanding.

2Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.

See accompanying Notes, which are an integral part of the Financial Statements.

145

Total International Bond Index Fund

Financial Highlights

ETF Shares

For a Share Outstanding	Year Ended October 31,
Throughout Each Period	2019		2018		2017		2016		2015
Net Asset Value, Beginning of Period	$54.47		$54.75		$55.09		$53.04		$52.23
Investment Operations
Net Investment Income	.630	1	.584	1	.578	1	.697		.714
Net Realized and Unrealized Gain (Loss) on Investments	4.913		.356		.038		2.175		.882
Total from Investment Operations	5.543		.940		.616		2.872		1.596
Distributions
Dividends from Net Investment Income	(1.673	)	(1.220	)	(.956	)	(.822	)	(.786	)
Distributions from Realized Capital Gains	—		—		—		—		—
Total Distributions	(1.673	)	(1.220	)	(.956	)	(.822	)	(.786	)
Net Asset Value, End of Period	$58.34		$54.47		$54.75		$55.09		$53.04
Total Return	10.40%		1.74%		1.15%		5.46%		3.07%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$23,911		$12,092		$8,504		$5,692		$3,968
Ratio of Total Expenses to Average Net Assets	0.08%		0.09%		0.11%		0.12%		0.15%
Ratio of Net Investment Income to Average Net Assets	1.12%		1.07%		1.07%		1.21%		1.34%
Portfolio Turnover Rate	26%		22%		19%		20%		13%

1 Calculated based on average shares outstanding.

See accompanying Notes, which are an integral part of the Financial Statements.

146

Total International Bond Index Fund

Financial Highlights

Admiral Shares

For a Share Outstanding	Year Ended October 31,
Throughout Each Period	2019		2018		2017		2016		2015
Net Asset Value, Beginning of Period	$21.79		$21.91		$22.04		$21.21		$20.89
Investment Operations
Net Investment Income	.246	1	.230	1	.231	1	.277		.289
Net Realized and Unrealized Gain (Loss) on Investments	1.976		.137		.017		.874		.349
Total from Investment Operations	2.222		.367		.248		1.151		.638
Distributions
Dividends from Net Investment Income	(.662	)	(.487	)	(.378	)	(.321	)	(.318	)
Distributions from Realized Capital Gains	—		—		—		—		—
Total Distributions	(.662	)	(.487	)	(.378	)	(.321	)	(.318	)
Net Asset Value, End of Period	$23.35		$21.79		$21.91		$22.04		$21.21
Total Return2	10.41%		1.70%		1.16%		5.46%		3.06%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$51,889		$43,550		$36,072		$20,572		$12,595
Ratio of Total Expenses to Average Net Assets	0.11%		0.11%		0.11%		0.12%		0.14%
Ratio of Net Investment Income to Average Net Assets	1.09%		1.05%		1.07%		1.21%		1.35%
Portfolio Turnover Rate	26%		22%		19%		20%		13%

1 Calculated based on average shares outstanding.

2Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.

See accompanying Notes, which are an integral part of the Financial Statements.

147

Total International Bond Index Fund

Financial Highlights

Institutional Shares

For a Share Outstanding	Year Ended October 31,
Throughout Each Period	2019		2018		2017		2016		2015
Net Asset Value, Beginning of Period	$32.70		$32.88		$33.07		$31.83		$31.34
Investment Operations
Net Investment Income	.382	1	.358	1	.360	1	.431		.449
Net Realized and Unrealized Gain (Loss) on Investments	2.954		.206		.033		1.306		.536
Total from Investment Operations	3.336		.564		.393		1.737		.985
Distributions
Dividends from Net Investment Income	(1.006	)	(.744	)	(.583	)	(.497	)	(.495	)
Distributions from Realized Capital Gains	—		—		—		—		—
Total Distributions	(1.006	)	(.744	)	(.583	)	(.497	)	(.495	)
Net Asset Value, End of Period	$35.03		$32.70		$32.88		$33.07		$31.83
Total Return	10.42%		1.74%		1.22%		5.49%		3.15%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$34,596		$28,196		$24,365		$16,773		$13,032
Ratio of Total Expenses to Average Net Assets	0.07%		0.07%		0.07%		0.07%		0.09%
Ratio of Net Investment Income to Average Net Assets	1.13%		1.09%		1.11%		1.26%		1.40%
Portfolio Turnover Rate	26%		22%		19%		20%		13%

1 Calculated based on average shares outstanding.

See accompanying Notes, which are an integral part of the Financial Statements.

148

Total International Bond Index Fund

Notes to Financial Statements

Vanguard Total International Bond Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. Certain of the fund’s investments are in corporate debt instruments; the issuers’ abilities to meet their obligations may be affected by economic developments in their respective industries. The fund invests in securities of foreign issuers, which may subject it to investment risks not normally associated with investing in securities of U.S. corporations. To minimize the currency risk associated with investment in securities denominated in currencies other than the U.S. dollar, the fund attempts to hedge its currency exposures. The fund offers five classes of shares: Investor Shares, ETF Shares, Admiral Shares, Institutional Shares, and Institutional Select Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on Nasdaq; they can be purchased and sold through a broker. The fund has not issued Institutional Select Shares through October 31, 2019.

A.   The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Structured debt securities, including mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer, tranche, nominal or option-adjusted spreads, weighted average coupon, weighted average maturity, credit enhancements, and collateral. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued at their fair values calculated according to procedures adopted by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund’s pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund’s pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between

149

Total International Bond Index Fund

changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any assets pledged as initial margin for open contracts are noted in the Statement of Net Assets.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

During the year ended October 31, 2019, the fund’s average investments in long and short futures contracts each represented less than 1% of net assets, based on the average of the notional amounts at each quarter-end during the period.

4. Forward Currency Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. The fund’s risks in using these contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts. The fund mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. The master netting arrangements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate the forward currency contracts, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The forward currency contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any assets pledged as collateral for open contracts are noted in the Statement of Net Assets. The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

Forward currency contracts are valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized forward currency contract gains (losses).

150

Total International Bond Index Fund

During the year ended October 31, 2019, the fund’s average investment in forward currency contracts represented 100% of net assets, based on the average of net amounts of notional exposure at each quarter-end during the period.

The following table summarizes the fund’s derivative assets and liabilities by counterparty for derivatives subject to arrangements that provide for offsetting assets and liabilities. Exchange-traded derivatives are listed separately.

	Assets		Liabilities				Amounts Not Offset in the				Net
	Reflected in		Reflected in		Net Amount		Statement of Net Assets				Exposure3
	Statement of		Statement of		Receivable		Collateral		Collateral		(Not Less
	Net Assets1		Net Assets1		(Payable	)	Pledged2		Received2		Than $0	)
	($000	)	($000	)	($000	)	($000	)	($000	)	($000	)
Derivatives Subject to Offsetting Arrangements, by Counterparty
Bank of America, N.A.	6,094		(155,179	)	(149,085	)	91,913		—		—
Bank of Montreal	—		(991	)	(991	)	1,232		—		—
Barclays Bank plc	1,419		(85,611	)	(84,192	)	59,109		—		—
BNP Paribas	7,790		(345,511	)	(337,721	)	268,737		—		—
Citigroup Global Markets Inc.	12,427		(272,956	)	(260,529	)	215,778		—		—
Deutsche Bank AG	11,111		(60,637	)	(49,526	)	30,727		—		—
Goldman Sachs Bank USA	1,118		(90,805	)	(89,687	)	65,970		—		—
HSBC Bank USA, N.A.	6,482		(253,132	)	(246,650	)	189,361		—		—
J.P. Morgan Securities LLC	15,051		(69,117	)	(54,066	)	46,963		—		—
Morgan Stanley Capital Services LLC	31,091		(453,997	)	(422,906	)	321,249		—		—
Royal Bank of Canada	30,904		(64,647	)	(33,743	)	22,637		—		—
Standard Chartered Bank	115		(13,464	)	(13,349	)	12,766		—		—
State Street Bank & Trust Co.	5,583		(214,215	)	(208,632	)	151,751		—		—
Toronto-Dominion Bank	16,536		(361,753	)	(345,217	)	236,104		—		—
UBS AG	5,281		(175,861	)	(170,580	)	142,258		—		—
Exchange-Traded Futures Contracts	1,577		(602	)	975		4,204		—		—
Total	152,579		(2,618,478	)	(2,465,899	)	1,860,759		—		—

1Absent an event of default or early termination, derivative assets and liabilities are presented gross and not offset in the Statement of Net Assets.

2Securities or other assets pledged as collateral are noted in the Statement of Net Assets. Securities or other assets received as collateral are held in a segregated account and not included in the fund’s security holdings in the Statement of Net Assets.

3Net exposure represents the net amount receivable from the counterparty in the event of default. Counterparties are not required to exchange collateral if amount is below a specified minimum transfer amount.

151

Total International Bond Index Fund

5. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (October 31, 2016–2019), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

6. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes.

7. Credit Facility: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.

The fund had no borrowings outstanding at October 31, 2019, or at any time during the period then ended.

8. Other: Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities purchased are amortized and accreted, respectively, to interest income over the lives of the respective securities. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B.   In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees. Vanguard does not require reimbursement in the current period for certain costs of operations (such as deferred compensation/benefits and risk/insurance costs); the fund’s liability for these costs of operations is included in Payables to Vanguard on the Statement of Net Assets. All other costs of operations payable to Vanguard are generally settled twice a month.

152

Total International Bond Index Fund

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At October 31, 2019, the fund had contributed to Vanguard capital in the amount of $6,585,000, representing less than 0.01% of the fund’s net assets and 2.63% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

C.   Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

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 fund’s own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Statement of Net Assets.

The following table summarizes the market value of the fund’s investments and derivatives as of October 31, 2019, based on the inputs used to value them:

	Level 1		Level 2		Level 3
Investments	($000	)	($000	)	($000	)
Asset-Backed/Commercial Mortgage-Backed Securities	—		5,770,301		—
Corporate Bonds	—		21,235,660		—
Sovereign Bonds	—		111,339,157		—
U.S. Government and Agency Obligations	—		2,672		—
Temporary Cash Investments	789,582		—		—
Futures Contracts—Assets1	1,577		—		—
Futures Contracts—Liabilities1	(602	)	—		—
Forward Currency Contracts—Assets	—		151,002		—
Forward Currency Contracts—Liabilities	—		(2,617,876	)	—
Total	790,557		135,880,916		—

1 Represents variation margin on the last day of the reporting period.

153

Total International Bond Index Fund

D.   At October 31, 2019, the fair values of derivatives were reflected in the Statement of Net Assets as follows:

	Interest Rate		Currency
	Contracts		Contracts		Total
Statement of Net Assets Caption	($000	)	($000	)	($000	)
Variation Margin Receivable—Futures Contracts	1,577		—		1,577
Unrealized Appreciation—Forward Currency Contracts	—		151,002		151,002
Total Assets	1,577		151,002		152,579
Variation Margin Payable—Futures Contracts	(602	)	—		(602	)
Unrealized Depreciation—Forward Currency Contracts	—		(2,617,876	)	(2,617,876	)
Total Liabilities	(602	)	(2,617,876	)	(2,618,478	)

Realized net gain (loss) and the change in unrealized appreciation (depreciation) on derivatives for the year ended October 31, 2019, were:

	Interest Rate		Currency
	Contracts		Contracts		Total
Realized Net Gain (Loss) on Derivatives	($000	)	($000	)	($000	)
Futures Contracts	(446	)	—		(446	)
Forward Currency Contracts	—		7,478,123		7,478,123
Realized Net Gain (Loss) on Derivatives	(446	)	7,478,123		7,477,677
Change in Unrealized Appreciation (Depreciation) on Derivatives
Futures Contracts	100		—		100
Forward Currency Contracts	—		(4,643,687	)	(4,643,687	)
Change in Unrealized Appreciation (Depreciation) on Derivatives	100		(4,643,687	)	(4,643,587	)

E.   Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for foreign currency transactions were reclassified between the individual components of total distributable earnings (loss).

	Amount
	($000	)
Paid-in Capital	—
Total Distributable Earnings (Loss)	—

154

Total International Bond Index Fund

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the tax deferral of losses on wash sales, the realization of unrealized gains or losses on certain futures contracts; payables for distributions, and the tax recognition of gain or loss from foreign currency hedges. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

	Amount
	($000	)
Undistributed Ordinary Income	3,229,865
Undistributed Long-Term Gains	—
Capital Loss Carryforwards (Non-expiring)*	(35,901	)
Net Unrealized Gains (Losses)	8,208,060

*The fund used capital loss carryforwards of $73,116,000 to offset taxable capital gains realized during the year ended October 31, 2019.

As of October 31, 2019, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000	)
Tax Cost	130,929,312
Gross Unrealized Appreciation	9,921,615
Gross Unrealized Depreciation	(1,713,555	)
Net Unrealized Appreciation (Depreciation)	8,208,060

F.   During the year ended October 31, 2019, the fund purchased $50,120,657,000 of investment securities and sold $31,420,661,000 of investment securities, other than U.S. government securities and temporary cash investments.

155

Total International Bond Index Fund

G.Capital share transactions for each class of shares were:

					Year Ended October 31,
	2019				2018
	Amount		Shares		Amount		Shares
	($000	)	(000	)	($000	)	(000	)
Investor Shares
Issued	2,052,911		182,791		2,626,095		241,252
Issued in Lieu of Cash Distributions	821,063		74,721		585,031		53,841
Redeemed1	(2,074,494	)	(188,197	)	(1,385,090	)	(127,114	)
Net Increase (Decrease)—Investor Shares	799,480		69,315		1,826,036		167,979
ETF Shares
Issued	10,770,965		189,839		4,285,695		78,832
Issued in Lieu of Cash Distributions	—		—		—		—
Redeemed	(111,727	)	(2,000	)	(660,725	)	(12,150	)
Net Increase (Decrease)—ETF Shares	10,659,238		187,839		3,624,970		66,682
Admiral Shares
Issued1	9,772,772		436,239		10,394,835		477,028
Issued in Lieu of Cash Distributions	1,307,627		59,467		801,365		36,875
Redeemed	(6,121,576	)	(271,396	)	(3,528,115	)	(162,068	)
Net Increase (Decrease)—Admiral Shares	4,958,823		224,310		7,668,085		351,835
Institutional Shares
Issued	5,578,722		165,967		5,700,602		174,448
Issued in Lieu of Cash Distributions	882,691		26,735		582,570		17,865
Redeemed	(2,238,471	)	(67,361	)	(2,329,464	)	(71,248	)
Net Increase (Decrease)—Institutional Shares	4,222,942		125,341		3,953,708		121,065

1In November 2018, the fund announced changes to the availability and minimum investment criteria of the Investor and Admiral share classes. As a result, all of the outstanding Investor Shares automatically converted to Admiral Shares beginning in April 2019, with the exception of those held by Vanguard funds and certain other institutional investors. Investor Shares—Redeemed and Admiral Shares—Issued include 37,787,000 and 18,902,000 shares, respectively, in the amount of $425,025,000 from the conversion during the year ended October 31, 2019.

At October 31, 2019, several Vanguard funds and trusts managed by Vanguard or its affiliates were each a record or beneficial owner of the fund, and had a combined ownership of 45% of the fund’s net assets. If any of these shareholders were to redeem their investment in the fund, the redemption might result in an increase in the fund’s expense ratio, cause the fund to incur higher transaction costs, or lead to the realization of taxable capital gains.

H.   Management has determined that no events or transactions occurred subsequent to October 31, 2019, that would require recognition or disclosure in these financial statements.

156

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Charlotte Funds and Shareholders of Vanguard Total International Bond Index Fund

Opinion on the Financial Statements

We have audited the accompanying statement of net assets of Vanguard Total International Bond Index Fund (one of the funds constituting Vanguard Charlotte Funds, referred to hereafter as the “Fund”) as of October 31, 2019, the related statement of operations for the year ended October 31, 2019, the statement of changes in net assets for each of the two years in the period ended October 31, 2019, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2019 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2019, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2019 and the financial highlights for each of the five years in the period ended October 31, 2019 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’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 Fund 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, 2019 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 18, 2019

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

157

Special 2019 tax information (unaudited) for Vanguard Total International Bond Index Fund

This information for the fiscal year ended October 31, 2019, is included pursuant to provisions of the Internal Revenue Code.

The fund designates to shareholders foreign source income of $1,426,162,000 and foreign taxes paid of $6,021,000. Shareholders will receive more detailed information with their Form 1099-DIV in January 2020 to determine the calendar-year amounts to be included on their 2019 tax returns.

158

BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P. BARCLAYS is a trademark and service mark of Barclays Bank Plc, used under license. Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL) (collectively, Bloomberg), or Bloomberg’s licensors, own all proprietary rights in the Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) (Index or Bloomberg Barclays Index).

Neither Barclays Bank Plc, Barclays Capital Inc., or any affiliate (collectively Barclays) or Bloomberg is the issuer or producer of the Total International Bond Index Fund and neither Bloomberg nor Barclays has any responsibilities, obligations or duties to investors in the Total International Bond Index Fund. The Index is licensed for use by The Vanguard Group, Inc. (Vanguard) as the sponsor of the Total International Bond Index Fund. Bloomberg and Barclays’ only relationship with Vanguard in respect of the Index is the licensing of the Index, which is determined, composed and calculated by BISL, or any successor thereto, without regard to the Issuer or the Total International Bond Index Fund or the owners of the Total International Bond Index Fund.

Additionally, Vanguard may for itself execute transaction(s) with Barclays in or relating to the Index in connection with the Total International Bond Index Fund. Investors acquire the Total International Bond Index Fund from Vanguard and investors neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with Bloomberg or Barclays upon making an investment in the Total International Bond Index Fund. The Total International Bond Index Fund is not sponsored, endorsed, sold or promoted by Bloomberg or Barclays. Neither Bloomberg nor Barclays makes any representation or warranty, express or implied regarding the advisability of investing in the Total International Bond Index Fund or the advisability of investing in securities generally or the ability of the Index to track corresponding or relative market performance. Neither Bloomberg nor Barclays has passed on the legality or suitability of the Total International Bond Index Fund with respect to any person or entity. Neither Bloomberg nor Barclays is responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Total International Bond Index Fund to be issued. Neither Bloomberg nor Barclays has any obligation to take the needs of the Issuer or the owners of the Total International Bond Index Fund or any other third party into consideration in determining, composing or calculating the Index. Neither Bloomberg nor Barclays has any obligation or liability in connection with administration, marketing or trading of the Total International Bond Index Fund.

159

The licensing agreement between Bloomberg and Barclays is solely for the benefit of Bloomberg and Barclays and not for the benefit of the owners of the Total International Bond Index Fund, investors or other third parties. In addition, the licensing agreement between Vanguard and Bloomberg is solely for the benefit of Vanguard and Bloomberg and not for the benefit of the owners of the Total International Bond Index Fund, investors or other third parties.

NEITHER BLOOMBERG NOR BARCLAYS SHALL HAVE ANY LIABILITY TO THE ISSUER, INVESTORS OR TO OTHER THIRD PARTIES FOR THE QUALITY, ACCURACY AND/OR COMPLETENESS OF THE BLOOMBERG BARCLAYS INDEX OR ANY DATA INCLUDED THEREIN OR FOR INTERRUPTIONS IN THE DELIVERY OF THE BLOOMBERG BARCLAYS INDEX. NEITHER BLOOMBERG NOR BARCLAYS MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE ISSUER, THE INVESTORS OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BLOOMBERG BARCLAYS INDEX OR ANY DATA INCLUDED THEREIN. NEITHER BLOOMBERG NOR BARCLAYS MAKES ANY EXPRESS OR IMPLIED WARRANTIES, AND EACH HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE BLOOMBERG BARCLAYS INDEX OR ANY DATA INCLUDED THEREIN. BLOOMBERG RESERVES THE RIGHT TO CHANGE THE METHODS OF CALCULATION OR PUBLICATION, OR TO CEASE THE CALCULATION OR PUBLICATION OF THE BLOOMBERG BARCLAYS INDEX, AND NEITHER BLOOMBERG NOR BARCLAYS SHALL BE LIABLE FOR ANY MISCALCULATION OF OR ANY INCORRECT, DELAYED OR INTERRUPTED PUBLICATION WITH RESPECT TO THE BLOOMBERG BARCLAYS INDEX. NEITHER BLOOMBERG NOR BARCLAYS SHALL BE LIABLE FOR ANY DAMAGES, INCLUDING, WITHOUT LIMITATION, ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, OR ANY LOST PROFITS AND EVEN IF ADVISED OF THE POSSIBILITY OF SUCH, RESULTING FROM THE USE OF THE BLOOMBERG BARCLAYS INDEX OR ANY DATA INCLUDED THEREIN OR WITH RESPECT TO THE TOTAL INTERNATIONAL BOND INDEX FUND.

None of the information supplied by Bloomberg or Barclays and used in this publication may be reproduced in any manner without the prior written permission of both Bloomberg and Barclays Capital, the investment banking division of Barclays Bank Plc. Barclays Bank Plc is registered in England No. 1026167. Registered office 1 Churchill Place London E14 5HP.

© 2019 Bloomberg. Used with Permission.

Source: Bloomberg Index Services Limited. Copyright 2019, Bloomberg. All rights reserved.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard’s board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 213 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the Statement of Additional Information, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

Interested Trustee1

Mortimer J. Buckley

Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (January 2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (January 2018–present) of Vanguard; chief executive officer, president, and trustee (January 2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (February 2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Chairman of the board (2011–2017) and trustee (2009–2017) of the Children’s Hospital of Philadelphia; trustee (2018–present) of The Shipley School.

Independent Trustees

Emerson U. Fullwood

Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Director of SPX FLOW, Inc. (multi-industry manufacturing). Director of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, and Roberts Wesleyan College. Trustee of the University of Rochester.

Amy Gutmann

Born in 1949. Trustee since June 2006. Principal occupation(s) during the past five years and other experience: president (2004–present) of the University of Pennsylvania. Christopher H. Browne Distinguished Professor of Political Science, School of Arts and Sciences, and professor of communication, Annenberg School for Communication, with secondary faculty appointments in the Department of Philosophy, School of Arts and Sciences, and at the Graduate School of Education, University of Pennsylvania. Trustee of the National Constitution Center.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services), and the Lumina Foundation.

1Mr. Buckley is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

Director of the V Foundation and Oxfam America. Member of the advisory council for the College of Arts and Letters and chair of the advisory board to the Kellogg Institute for International Studies, both at the University of Notre Dame.

Mark Loughridge

Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM’s Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

Scott C. Malpass

Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: chief investment officer (1989–present) and vice president (1996–present) of the University of Notre Dame. Assistant professor of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Chairman of the board of TIFF Advisory Services, Inc. Member of the board of Catholic Investment Services, Inc. (investment advisors) and the board of superintendence of the Institute for the Works of Religion.

Deanna Mulligan

Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: president (2010–present) and chief executive officer (2011–present) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of The Guardian Life Insurance Company of America. Member of the board of The Guardian Life Insurance Company of America, the American Council of Life Insurers, the Partnership for New York City (business leadership), and the Committee Encouraging Corporate Philanthropy. Trustee of the Economic Club of New York and the Bruce Museum (arts and science). Member of the Advisory Council for the Stanford Graduate School of Business.

André F. Perold

Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Board of advisors and investment committee member of the Museum of Fine Arts Boston. Board member (2018–present) of RIT Capital Partners (investment firm); investment committee member of Partners Health Care System.

Sarah Bloom Raskin

Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Member of the board of directors (2012–2014) of Neighborhood Reinvestment Corporation. Director (2017–present) of i(x) Investments; director (2017–present) of Reserve Trust. Rubinstein Fellow (2017–present) of Duke University; trustee (2017–present) of Amherst College.

Peter F. Volanakis

Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Chairman of the board of trustees of Colby-Sawyer College. Member of the board of Hypertherm Inc. (industrial cutting systems, software, and consumables).

Executive Officers

John Bendl

Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (October 2019–present) of each of the investment companies served by Vanguard. Chief accounting officer, treasurer, and controller of Vanguard (2017–present). Partner (2003–2016) at KPMG (audit, tax, and advisory services).

Glenn Booraem

Born in 1967. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (2017–present), treasurer (2015–2017), controller (2010–2015), and assistant controller (2001–2010) of each of the investment companies served by Vanguard.

Christine M. Buchanan

Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Treasurer (2017–present) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

David Cermak

Born in 1960. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Finance director (October 2019–present) of each of the investment companies served by Vanguard. Managing director and head (2017–present) of Vanguard Investments Singapore. Managing director and head (2017–2019) of Vanguard Investments Hong Kong. Representative director and head (2014–2017) of Vanguard Investments Japan.

Thomas J. Higgins

Born in 1957. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Finance director (October 2019–present), chief financial officer (2008–2019), and treasurer (1998–2008) of each of the investment companies served by Vanguard.

Peter Mahoney

Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

Anne E. Robinson

Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express.

Michael Rollings

Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

John E. Schadl

Born in 1972. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (2019–present) of Vanguard and of each of the investment companies served by Vanguard. Assistant vice president (May 2019–present) of Vanguard Marketing Corporation.

Vanguard Senior Management Team

Joseph Brennan	Chris D. McIsaac
Mortimer J. Buckley	James M. Norris
Gregory Davis	Thomas M. Rampulla
John James	Karin A. Risi
Martha G. King	Anne E. Robinson
John T. Marcante	Michael Rollings

P.O. Box 2600

Valley Forge, PA 19482-2600

Connect with Vanguard® > vanguard.com

Fund Information > 800-662-7447

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Institutional Investor Services > 800-523-1036

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Who Are Deaf or Hard of Hearing > 800-749-7273

This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard’s proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC’s website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

© 2019 The Vanguard Group, Inc.

All rights reserved.

U.S. Patent Nos. 6,879,964; 7,337,138;

7,720,749; 7,925,573; 8,090,646; 8,417,623; and 8,626,636.

Vanguard Marketing Corporation, Distributor.

Q12310 122019

Annual Report | October 31, 2019

Vanguard Global Credit Bond Fund

See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports.

Important information about access to shareholder reports

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of your fund’s annual and semiannual shareholder reports will no longer be sent to you by mail, unless you specifically request them. Instead, you will be notified by mail each time a report is posted on the website and will be provided with a link to access the report.

If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. You may elect to receive shareholder reports and other communications from the fund electronically by contacting your financial intermediary (such as a broker-dealer or bank) or, if you invest directly with the fund, by calling Vanguard at one of the phone numbers on the back cover of this report or by logging on to vanguard.com.

You may elect to receive paper copies of all future shareholder reports free of charge. If you invest through a financial intermediary, you can contact the intermediary to request that you continue to receive paper copies. If you invest directly with the fund, you can call Vanguard at one of the phone numbers on the back cover of this report or log on to vanguard.com. Your election to receive paper copies will apply to all the funds you hold through an intermediary or directly with Vanguard.

Contents
A Note From Our Chairman	1
Your Fund’s Performance at a Glance	2
Advisor’s Report	3
About Your Fund’s Expenses	6
Performance Summary	8
Financial Statements	10

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your fund are spelled out in the prospectus.

A Note From Our Chairman

Tim Buckley

Chairman and Chief Executive Officer

Dear Shareholder,

Recent volatility in financial markets—affecting stocks, bonds, and commodities—has been a good reminder of the wise old adage, “Never keep all your eggs in one basket.” Maintaining balance and diversification in your investment portfolio can help to both limit risk and set you up for long-term success.

It’s understandable why some investors might become complacent after a long market run-up like the one that lifted stock prices, especially U.S. stock prices, in the years following the global financial crisis. But failing to rebalance regularly can leave a portfolio with a much different mix of assets than intended and, often, more risk than intended.

Balance across and diversification within asset classes are powerful tools for managing risk and achieving your investment goals. A portfolio’s allocation will determine a large portion of its long-term return and also the majority of its volatility risk. A well-diversified portfolio is less vulnerable to significant swings in the performance of any one segment of the asset classes in which it invests.

Balance and diversification will never eliminate the risk of loss, nor will they guarantee positive returns in a declining market. But they should reduce the chance that you’ll suffer disproportionate losses in one particular high-flying asset class or sector when it comes back to earth. And exposure to all key market components should give you at least some participation in the sectors that are performing best at any given time.

Vanguard is committed to helping you achieve balance and diversification in your portfolios to help meet your investment goals. We thank you for your continued loyalty.

Sincerely,

Mortimer J. Buckley

Chairman and Chief Executive Officer

November 18, 2019

1

Your Fund’s Performance at a Glance

·     From its inception on November 15, 2018, through October 31, 2019, Vanguard Global Credit Bond Fund returned 13.46% for Investor Shares and 13.60% for Admiral Shares. Those results outpaced the fund’s benchmark index, which returned 12.84%.

·     There was a marked shift in global monetary policy during the period. In the face of slowing global growth, many central banks turned more accommodative. Some cut interest rates and others considered doing so. The European Central Bank revived its asset-purchase program. Global bond yields ended the period lower and corporate bond spreads narrowed, which pushed bond prices significantly higher.

·     Security selection drove the fund’s outperformance, and duration and yield-curve positioning helped. In emerging markets, the fund’s holdings in Mexico, Lithuania, Chile, and Indonesia added value. Among European corporate bonds, holdings in banks, consumer noncyclicals, health care, and electric utilities were bright spots for the fund. So were U.S. banks and utilities.

·     Detractors from relative performance included an allocation to Argentina, an out-of-benchmark allocation to Treasury Inflation-Protected Securities, and exposure to the U.S. auto sector.

·     The fund regularly uses derivatives to hedge portfolio risks. The fund’s holdings of forward currency contracts and bond futures contracts boosted performance over this period.

Market Barometer

	Average Annual Total Returns
	Periods Ended October 31, 2019
	One Year	Three Years	Five Years
Stocks
Russell 1000 Index (Large-caps)	14.15%	14.73%	10.55%
Russell 2000 Index (Small-caps)	4.90	10.96	7.37
Russell 3000 Index (Broad U.S. market)	13.49	14.47	10.31
FTSE All-World ex US Index (International)	11.52	8.21	4.16
Bonds
Bloomberg Barclays U.S. Aggregate Bond Index (Broad taxable market)	11.51%	3.29%	3.24%
Bloomberg Barclays Municipal Bond Index (Broad tax-exempt market)	9.42	3.62	3.55
FTSE Three-Month U.S. Treasury Bill Index	2.35	1.57	0.98
CPI
Consumer Price Index	1.76%	2.11%	1.62%

2

Advisor’s Report

Vanguard Global Credit Bond Fund seeks to provide a moderate and sustainable level of current income by investing primarily in investment-grade corporate and noncorporate bonds in developed and emerging markets. The majority of its non-U.S. exposure is hedged to the U.S. dollar to mitigate currency risk.

The fund, which is an actively managed option in our lineup of global credit funds, has a broad mandate that lets our deep bench of investment professionals across the world focus on finding the best risk/reward opportunities in credit regardless of where it’s issued.

From its inception on November 15, 2018, through October 31, 2019, the fund returned 13.46% for Investor Shares and 13.60% for Admiral Shares. The fund’s benchmark returned 12.84% for the period.

With bond prices rising, the 30-day SEC yield declined to 2.11% for Investor Shares and to 2.21% for Admiral Shares. The 30-day SEC yield is a proxy for a fund’s potential annualized rate of income.

Investment environment

The financial markets were driven largely by shifts in the outlook for global growth and monetary policy during the period.

Toward the end of 2018, bond investors grew skittish at the prospect of less-accommodative monetary policy by some major central banks, especially as the global economy seemed to lose steam.

In December, the U.S. Federal Reserve raised its target range for the federal funds rate, its fourth hike in 2018, and the European Central Bank (ECB) announced it would bring its asset-purchase program to an end.

Other investor concerns as 2018 drew to a close included flare-ups in trade disputes, signs that China’s economy was slowing, and heightened geopolitical tensions in the Middle East. Greater risk aversion led to a sell-off in stocks and lower-quality bonds and a boost in demand for safer assets, including government bonds.

Further signs of a global slowdown and tepid inflation in the new year, however, led to a pivot in monetary policy toward a more accommodative bias across much of the world.

In March, the Fed announced that it would end its balance-sheet tapering. It reduced short-term interest rates in August, September, and October. Those cuts, the first in more than a decade, were justified by policymakers as “insurance” meant to cushion the effects of trade policies and prolong an economic expansion already in its 11th year. In September, the ECB pushed its deposit rate further into negative territory and announced a new round of asset purchases; at the same time, it cut its projections for euro zone growth and inflation for 2019 and 2020. Other central banks on the same page included those of New Zealand, India, Thailand, South Korea, Brazil, and Mexico.

3

In response, global bond yields ended the period lower across the maturity spectrum. The 2-year U.S. Treasury note, for example, fell 134 basis points to 1.52% and the bellwether 10-year U.S. Treasury note fell 145 basis points to 1.69%. (A basis point is one-hundredth of a percentage point.)

Management of the fund

We added value through a number of strategies during the period. While we don’t usually take significant directional bets on the market, we did going into 2019. The market had cheapened to the point where we took on more exposure to higher-beta issuers that we anticipated would benefit most in a market rebound. This tactical move worked out well for the fund.

For much of the period, however, we were more focused on finding relative value opportunities in and across markets. Emerging markets proved the biggest contributor to relative performance. Mexico, Lithuania, Chile, and Indonesia were bright spots for us.

European debt in the fund also performed well. We took advantage of some volatility there as well as tailwinds from technical factors related to the ECB’s corporate bond-buying as part of its quantitative-easing efforts. When spreads widened in Spain in response to political woes in Italy, we added long-dated Spanish government debt, which benefited the most when spreads subsequently narrowed.

We generated superior returns from U.S. corporate bonds, which constitute the largest segment in the index by market value. Selection proved strong in debt issued by banks, utilities, communications companies, and basic materials producers.

Duration and yield-curve positioning were modestly positive.

The fund held some out-of-benchmark allocations that, overall, helped performance. A small allocation to high-yield bonds added value. We had exposure to asset-backed securities and commercial mortgage-backed securities, which provided incremental return while dampening some of the return volatility in the broader market. The fund also had exposure to Treasury Inflation-Protected Securities to provide a cushion in the event that inflation expectations rose, but those securities detracted from performance for this period.

A small allocation to Argentina was another detractor. Argentina’s credit repriced sharply after a strong primary election showing by a less market-friendly presidential candidate ahead of the October general election, which the candidate won. Our position in U.S. auto sector debt also dampened performance.

The outlook

Global growth is set to keep softening, owing in part to further downdrafts from trade tensions and policy uncertainty. The

4

U.S. economy’s growth may slow to a pace of around 1% in 2020 after adjusting for inflation, below its normal trend growth of around 2%, with a not-negligible risk of a recession.

Other major economies are likely to see a deceleration as well. China, the world’s second-largest economy, is set to grow at around 5.8% in 2020—but that figure could be markedly lower without further stimulus. In the euro area, growth may stay below trend, at about 1%, given recent indications that manufacturing weakness is spilling over into supply chains and the services sector. This backdrop, along with modest wage gains and structural factors like technology advancements and globalization, is unlikely to fuel a surge in consumer prices.

The prospect of slowing growth and tame inflation is likely to elicit more monetary easing by major central banks. The Fed has cut rates by 75 basis points so far this year, and we believe it may make further reductions depending on how trade tariffs and the shape of the yield curve evolve. Other central banks stand ready to provide further monetary support, and fiscal stimulus is also under consideration, notably in Germany and China.

We are likely to see more bouts of volatility in the financial markets as the global economy slows and monetary and fiscal policy evolve, so our tactically defensive stance should allow us to take advantage of price dislocations as they arise.

The weakest debt issuers will be the most sensitive to a further deceleration in global growth, making rigorous credit analysis and dynamic management key to performance in 2020 in this asset class.

Whatever the markets may bring, our experienced team of portfolio managers, traders, and credit analysts will continue to seek out opportunities to add to the fund’s performance.

Portfolio Managers:

Samuel C. Martinez, CFA

Daniel Shaykevich, Principal

Vanguard Fixed Income Group

November 26, 2019

5

About Your Fund’s Expenses

As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, 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 your 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 accompanying table illustrates your fund’s costs in two ways:

·     Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from the fund’s actual return, and the third column shows 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, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading “Expenses Paid During Period.”

·     Based on hypothetical 5% yearly return. This section is intended to help you compare your fund’s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. 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 Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% 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.

Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.

6

Six Months Ended October 31, 2019

	Beginning	Ending	Expenses
	Account Value	Account Value	Paid During
Global Credit Bond Fund	4/30/2019	10/31/2019	Period
Based on Actual Fund Return
Investor Shares	$1,000.00	$1,064.08	$1.77
AdmiralTM Shares	1,000.00	1,065.07	1.25
Based on Hypothetical 5% Yearly Return
Investor Shares	$1,000.00	$1,023.49	$1.73
Admiral Shares	1,000.00	1,024.00	1.22

The calculations are based on expenses incurred in the most recent six-month period. The fund’s annualized six-month expense ratios for that period are 0.34% for Investor Shares and 0.24% for Admiral Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

7

Global Credit Bond Fund

Performance Summary

All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the fund. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor’s shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.

Cumulative Performance: November 15, 2018, Through October 31, 2019

Initial Investment of $10,000

		Total Returns
		Period Ended October 31, 2019
		Since	Final Value
		Inception	of a $10,000
		(11/15/2018)	Investment
	Global Credit Bond Fund Investor Shares	13.46%	$11,346
	Bloomberg Barclays Global Aggregate Credit Index (USD Hedged)	12.84	11,284
	Bloomberg Barclays Global Aggregate Bond Index ex USD	7.56	10,756

“Since Inception” performance is calculated from the Investor Shares’ inception date for both the fund and its comparative standard(s).

	Since	Final Value
	Inception	of a $50,000
	(11/15/2018)	Investment
Global Credit Bond Fund Admiral Shares	13.60%	$56,802
Bloomberg Barclays Global Aggregate Credit Index (USD Hedged)	12.84	56,418
Bloomberg Barclays Global Aggregate Bond Index ex USD	7.56	53,779

“Since Inception” performance is calculated from the Admiral Shares’ inception date for both the fund and its comparative standard(s).

See Financial Highlights for dividend and capital gains information.

8

Global Credit Bond Fund

Sector Diversification

As of October 31, 2019

Asset-Backed/Commercial Mortgage-Backed	3.1%
Finance	26.7
Foreign	17.5
Industrial	42.7
Treasury	1.7
Utilities	8.0
Other	0.3

The table reflects the fund’s market exposure. Any holdings in short-term reserves are excluded. The agency and mortgage-backed securities sectors may include issues from government-sponsored enterprises; such issues are generally not backed by the full faith and credit of the U.S. government.

9

Global Credit Bond Fund

Financial Statements

Statement of Net Assets

As of October 31, 2019

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
Argentina (0.0%)
Sovereign Bonds (0.0%)
	Argentine Republic	6.875%	4/22/21	150		67
	Argentine Republic	6.875%	1/26/27	20		8
Total Argentina (Cost $91)						75
Australia (2.6%)
Corporate Bonds (2.6%)
1	Aurizon Network Pty Ltd.	4.000%	6/21/24	740		545
1,2	Australia & New Zealand Banking Group Ltd.	4.750%	5/13/27	1,000		726
3	Commonwealth Bank of Australia	3.610%	9/12/34	550		556
3	Commonwealth Bank of Australia	3.743%	9/12/39	500		503
1	DBNGP Finance Co. Pty Ltd.	4.225%	5/28/25	360		274
1,4	Macquarie Group Ltd., 3M Australian Bank Bill Rate + 1.150%	2.185%	12/15/22	600		415
1	Macquarie Group Ltd.	3.250%	12/15/22	400		283
1	Qantas Airways Ltd.	4.400%	10/10/23	510		382
1,4	Victoria Power Networks Finance Pty Ltd., 3M Australian Bank Bill Rate + 0.280%	1.128%	1/15/22	950		644
	Westpac Banking Corp.	3.300%	2/26/24	870		910
	Westpac Banking Corp.	4.110%	7/24/34	150		158
Total Australia (Cost $5,326)						5,396
Belgium (0.6%)
Corporate Bonds (0.6%)
	Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc.	4.700%	2/1/36	180		207
	Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc.	4.900%	2/1/46	375		447
	Anheuser-Busch InBev Worldwide Inc.	4.375%	4/15/38	280		312
	Anheuser-Busch InBev Worldwide Inc.	5.550%	1/23/49	200		259
Total Belgium (Cost $1,065)						1,225
Bermuda (0.6%)
Sovereign Bond (0.6%)
2	Bermuda	4.750%	2/15/29	1,150		1,303
Total Bermuda (Cost $1,153)						1,303

10

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
Brazil (0.9%)
Corporate Bonds (0.7%)
3	Braskem Netherlands Finance BV	5.875%	1/31/50	700		695
	Vale Overseas Ltd.	6.250%	8/10/26	504		585
5	Vale SA	3.750%	1/10/23	100		121
						1,401
Sovereign Bond (0.2%)
2	Federative Republic of Brazil	4.500%	5/30/29	530		557
Total Brazil (Cost $1,886)						1,958
Canada (4.0%)
Corporate Bonds (2.4%)
3	1011778 BC ULC / New Red Finance Inc.	5.000%	10/15/25	20		21
3	1011778 BC ULC / New Red Finance Inc.	3.875%	1/15/28	40		40
3	Alimentation Couche-Tard Inc.	3.550%	7/26/27	300		311
3	Alimentation Couche-Tard Inc.	4.500%	7/26/47	150		161
3	MEG Energy Corp.	6.500%	1/15/25	10		10
	Nutrien Ltd.	3.375%	3/15/25	100		104
	Nutrien Ltd.	4.125%	3/15/35	70		75
	Nutrien Ltd.	4.900%	6/1/43	40		45
	Royal Bank of Canada	2.550%	7/16/24	1,250		1,271
6	Toronto-Dominion Bank	2.850%	3/8/24	2,225		1,724
	TransCanada PipeLines Ltd.	3.750%	10/16/23	590		624
	TransCanada PipeLines Ltd.	4.625%	3/1/34	205		233
	TransCanada PipeLines Ltd.	4.875%	5/15/48	235		271
						4,890
Sovereign Bonds (1.6%)
6	Canada	1.000%	9/1/22	1,400		1,049
6	Canada	5.750%	6/1/33	250		289
6	Canada	4.000%	6/1/41	500		545
6	Canada	2.750%	12/1/48	300		289
3	Ontario Teachers’ Cadillac Fairview Properties Trust	3.875%	3/20/27	800		865
3	Ontario Teachers’ Cadillac Fairview Properties Trust	4.125%	2/1/29	350		389
						3,426
Total Canada (Cost $8,118)						8,316
Chile (1.1%)
Sovereign Bonds (1.1%)
	Empresa Nacional del Petroleo	4.750%	12/6/21	600		625
	Empresa Nacional del Petroleo	4.375%	10/30/24	1,600		1,684
Total Chile (Cost $2,313)						2,309
China (0.3%)
Corporate Bond (0.0%)
3	Eagle Intermediate Global Holding BV / Ruyi US Finance LLC	7.500%	5/1/25	50		43
Sovereign Bond (0.3%)
	Sinopec Group Overseas Development 2017 Ltd.	3.250%	9/13/27	500		515
Total China (Cost $552)						558

11

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
Colombia (0.3%)
Sovereign Bond (0.3%)
2	Republic of Colombia	4.500%	1/28/26	539		588
Total Colombia (Cost $567)						588
Cote d’Ivoire (0.3%)
Sovereign Bond (0.3%)
5	Republic of Cote d’Ivoire	5.875%	10/17/31	580		655
Total Cote d’Ivoire (Cost $632)						655
Croatia (0.1%)
Sovereign Bond (0.1%)
5	Republic of Croatia	1.125%	6/19/29	140		164
Total Croatia (Cost $160)						164
El Salvador (0.2%)
Sovereign Bond (0.2%)
2,3	Republic of El Salvador	7.125%	1/20/50	375		379
Total El Salvador (Cost $375)						379
France (2.9%)
Corporate Bonds (2.9%)
5	Auchan Holding SA	2.375%	4/25/25	1,100		1,262
5	Engie SA	1.000%	3/13/26	2,300		2,711
5	Total Capital International SA	1.375%	10/4/29	1,700		2,094
Total France (Cost $6,091)						6,067
Germany (1.8%)
Corporate Bonds (1.4%)
7	Aroundtown SA	3.250%	7/18/27	800		1,068
5	Aroundtown SA	1.625%	1/31/28	400		461
5	Aroundtown SA	1.450%	7/9/28	400		454
1	Volkswagen Financial Services Australia Pty Ltd.	3.100%	4/17/23	500		354
3	Volkswagen Group of America Finance LLC	2.700%	9/26/22	650		656
						2,993
Sovereign Bond (0.4%)
5	Federal Republic of Germany	4.750%	7/4/40	325		731
Total Germany (Cost $3,678)						3,724
Honduras (0.1%)
Sovereign Bond (0.1%)
	Republic of Honduras	6.250%	1/19/27	150		161
Total Honduras (Cost $161)						161
Hong Kong (0.2%)
Corporate Bond (0.2%)
3	AIA Group Ltd.	3.600%	4/9/29	467		498
Total Hong Kong (Cost $465)						498

12

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
India (0.9%)
Sovereign Bonds (0.9%)
	Export-Import Bank of India	3.875%	3/12/24	800		838
	NTPC Ltd.	3.750%	4/3/24	1,075		1,109
Total India (Cost $1,937)						1,947
Indonesia (1.0%)
Sovereign Bonds (1.0%)
3,5	Perusahaan Listrik Negara PT	1.875%	11/5/31	370		410
	Perusahaan Penerbit SBSN Indonesia III	4.350%	9/10/24	450		484
	Republic of Indonesia	5.375%	10/17/23	600		663
	Republic of Indonesia	5.875%	1/15/24	450		507
Total Indonesia (Cost $1,976)						2,064
Ireland (0.2%)
Asset-Backed/Commercial Mortgage-Backed Security (0.2%)
2,3	Trafigura Securitisation Finance plc 2018-1A	3.730%	3/15/22	425		428
Total Ireland (Cost $425)						428
Israel (0.8%)
Sovereign Bond (0.8%)
5	State of Israel	2.875%	1/29/24	1,382		1,733
Total Israel (Cost $1,711)						1,733
Italy (1.4%)
Corporate Bonds (0.7%)
3	Intesa Sanpaolo SPA	3.250%	9/23/24	500		503
3	Intesa Sanpaolo SPA	4.000%	9/23/29	1,000		1,014
						1,517
Sovereign Bond (0.7%)
3,5	Republic of Italy	3.850%	9/1/49	850		1,338
Total Italy (Cost $2,825)						2,855
Japan (2.0%)
Corporate Bonds (1.5%)
	Sumitomo Mitsui Financial Group Inc.	3.748%	7/19/23	1,940		2,032
3	Takeda Pharmaceutical Co. Ltd.	4.400%	11/26/23	250		270
3	Takeda Pharmaceutical Co. Ltd.	5.000%	11/26/28	700		822
						3,124
Sovereign Bonds (0.5%)
8	Japan	0.100%	6/20/24	65,000		612
8	Japan	0.100%	12/20/26	30,000		285
8	Japan	0.100%	6/20/29	10,000		95
8	Japan	1.700%	9/20/33	6,000		68
						1,060
Total Japan (Cost $4,081)						4,184
Lithuania (0.2%)
Sovereign Bond (0.2%)
	Republic of Lithuania	6.625%	2/1/22	400		441
Total Lithuania (Cost $426)						441

13

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
Mexico (1.6%)
Corporate Bond (0.5%)
	Grupo Bimbo SAB de CV	4.500%	1/25/22	1,000		1,042
Sovereign Bonds (1.1%)
	Petroleos Mexicanos	6.875%	8/4/26	600		658
	Petroleos Mexicanos	6.750%	9/21/47	950		946
3	Petroleos Mexicanos	7.690%	1/23/50	700		763
						2,367
Total Mexico (Cost $3,301)						3,409
Netherlands (2.9%)
Corporate Bonds (2.9%)
3	LeasePlan Corp. NV	2.875%	10/24/24	1,025		1,029
7	NIBC Bank NV	3.125%	11/15/23	1,600		2,143
2,5	NN Group NV	4.375%	12/31/49	700		859
3	NXP BV / NXP Funding LLC	4.125%	6/1/21	400		410
3	NXP BV / NXP Funding LLC	4.875%	3/1/24	1,360		1,474
3	OCI NV	5.250%	11/1/24	20		21
3	Trivium Packaging Finance BV	5.500%	8/15/26	5		5
3	Trivium Packaging Finance BV	8.500%	8/15/27	5		5
Total Netherlands (Cost $5,766)						5,946
New Zealand (0.0%)
Corporate Bond (0.0%)
3,4	Reynolds Group Issuer Inc. / Reynolds Group
	Issuer LLC / Reynolds Group Issuer Lu, 3M
	USD LIBOR + 3.500%	5.501%	7/15/21	50		50
Total New Zealand (Cost $50)						50
Paraguay (0.5%)
Sovereign Bonds (0.5%)
	Republic of Paraguay	5.000%	4/15/26	850		939
Total Paraguay (Cost $927)						939
Peru (0.2%)
Sovereign Bond (0.2%)
	Corp. Financiera de Desarrollo SA	4.750%	7/15/25	300		329
Total Peru (Cost $297)						329
Romania (0.3%)
Sovereign Bonds (0.3%)
	Republic of Romania	4.375%	8/22/23	200		214
3,5	Republic of Romania	4.625%	4/3/49	325		472
Total Romania (Cost $646)						686
Russia (0.9%)
Sovereign Bonds (0.9%)
	Gazprom OAO Via Gaz Capital SA	6.510%	3/7/22	400		435
	Russian Federation	4.750%	5/27/26	600		660
	Russian Federation	5.100%	3/28/35	600		693
Total Russia (Cost $1,667)						1,788

14

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
Saudi Arabia (0.5%)
Sovereign Bonds (0.5%)
	Kingdom of Saudi Arabia	3.625%	3/4/28	313		329
3	KSA Sukuk Ltd.	2.969%	10/29/29	600		599
Total Saudi Arabia (Cost $930)						928
South Africa (1.4%)
Sovereign Bonds (1.4%)
	Republic of South Africa	5.875%	9/16/25	300		327
9	Republic of South Africa	10.500%	12/21/26	21,500		1,572
	Republic of South Africa	4.850%	9/27/27	300		304
	Republic of South Africa	4.850%	9/30/29	620		614
Total South Africa (Cost $2,968)						2,817
Spain (0.2%)
Corporate Bond (0.2%)
	Telefonica Emisiones SAU	4.895%	3/6/48	375		420
Total Spain (Cost $408)						420
Supranational (1.7%)
Sovereign Bonds (1.7%)
3	Banque Ouest Africaine de Developpement	4.700%	10/22/31	500		509
5,10	European Financial Stability Facility	1.750%	10/29/20	1,000		1,140
5,10	European Financial Stability Facility	0.100%	1/19/21	500		561
5,10	European Financial Stability Facility	0.000%	11/17/22	1,200		1,356
Total Supranational (Cost $3,594)						3,566
Sweden (1.6%)
Corporate Bonds (1.6%)
5	Samhallsbyggnadsbolaget i Norden AB	1.750%	1/14/25	2,000		2,303
5	Samhallsbyggnadsbolaget i Norden AB	1.125%	9/4/26	300		332
	Svenska Handelsbanken AB	3.900%	11/20/23	630		673
Total Sweden (Cost $3,261)						3,308
Switzerland (2.5%)
Corporate Bonds (2.5%)
5	Richemont International Holding SA	1.000%	3/26/26	3,400		3,985
3	UBS Group Funding Jersey Ltd.	2.650%	2/1/22	400		404
3	UBS Group Funding Switzerland AG	4.125%	9/24/25	700		760
Total Switzerland (Cost $5,036)						5,149
United Arab Emirates (0.7%)
Sovereign Bonds (0.7%)
3	Emirate of Abu Dhabi	2.125%	9/30/24	750		746
3	Emirate of Abu Dhabi	3.125%	9/30/49	800		767
Total United Arab Emirates (Cost $1,527)						1,513
United Kingdom (8.8%)
Asset-Backed/Commercial Mortgage-Backed Securities (0.3%)
2,3,4	DELAM 2018-1, 1M USD LIBOR + 0.700%	2.546%	11/19/25	400		400
7	Intu SGS Finance plc	4.250%	9/17/30	240		266
						666
Corporate Bonds (7.7%)
	AstraZeneca plc	4.000%	1/17/29	225		252
2	Barclays plc	3.932%	5/7/25	700		730

15

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
7	BG Energy Capital plc	5.125%	12/1/25	2,300		3,645
	BP Capital Markets plc	3.279%	9/19/27	85		90
7	BUPA Finance plc	5.000%	12/8/26	800		1,176
7	Centrica plc	4.375%	3/13/29	470		720
3	Connect Finco SARL / Connect US Finco LLC	6.750%	10/1/26	15		16
7	Hammerson plc	3.500%	10/27/25	500		656
7	Hammerson plc	7.250%	4/21/28	200		327
2	HSBC Holdings plc	3.803%	3/11/25	1,100		1,152
2,11	HSBC Holdings plc	2.633%	11/7/25	540		540
5	International Consolidated Airlines Group SA	1.500%	7/4/27	700		774
7	Motability Operations Group plc	4.375%	2/8/27	750		1,175
7	Motability Operations Group plc	3.625%	3/10/36	760		1,208
	Reynolds American Inc.	4.450%	6/12/25	665		714
2	Royal Bank of Scotland Group plc	4.269%	3/22/25	470		498
7	Santander UK plc	3.875%	10/15/29	500		774
2,7	Society of Lloyd’s	4.875%	2/7/47	700		1,002
	Unilever Capital Corp.	2.600%	5/5/24	235		241
	Vodafone Group plc	4.125%	5/30/25	400		433
						16,123
Sovereign Bonds (0.8%)
7	United Kingdom of Great Britain and Northern Ireland	1.750%	9/7/37	485		703
7	United Kingdom of Great Britain and Northern Ireland	3.250%	1/22/44	150		282
7	United Kingdom of Great Britain and Northern Ireland	1.500%	7/22/47	250		353
7	United Kingdom of Great Britain and Northern Ireland	3.500%	7/22/68	90		227
						1,565
Total United Kingdom (Cost $17,800)						18,354
United States (52.7%)
Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)
2	AmeriCredit Automobile Receivables Trust 2019-1	3.620%	3/18/25	200		207
2	BANK 2018 - BN15	4.407%	11/15/61	215		248
2	BANK 2019 - BN17	3.714%	4/15/52	10		11
2	CD 2017-CD6 Commercial Mortgage Trust	3.456%	11/13/50	250		268
2	Citigroup Commercial Mortgage Trust 2018-C6	4.343%	11/10/51	320		359
2	COMM 2013-CCRE13 Mortgage Trust	4.890%	11/10/46	135		144
2	COMM 2014-CCRE14 Mortgage Trust	4.236%	2/10/47	75		81
2	COMM 2015-CCRE27 Mortgage Trust	4.471%	10/10/48	135		144
2	CSAIL 2016-C7 Commercial Mortgage Trust	3.502%	11/15/49	10		11
2	CSAIL 2019-C15 Commercial Mortgage Trust	4.053%	3/15/52	10		11
2	Drive Auto Receivables Trust 2018-5	4.300%	4/15/26	300		311
2,3	EDvestinU Private Education Loan Trust (EDVES) 2019-A	3.580%	11/25/38	93		96
2,3,4,12	Fannie Mae Connecticut Avenue Securities 2019-R03, 1M USD LIBOR + 0.750%	2.573%	9/25/31	230		230
2,3	Ford Credit Auto Owner Trust 2017-2	2.360%	3/15/29	150		151
2,3,12	Freddie Mac Structured Agency Credit Risk Debt Notes 2018-SPI1	3.740%	2/25/48	127		127

16

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
2,3,12	Freddie Mac Structured Agency Credit Risk Debt Notes 2018-SPI4	4.458%	11/25/48	90		90
2,3	GMF Floorplan Owner Revolving Trust 2018-2	3.130%	3/15/23	300		305
2,3	Hardee’s Funding HNGRY 2018-1	4.959%	6/20/48	198		202
2,3	Houston Galleria Mall Trust 2015-HGLR	3.087%	3/5/37	203		211
2	JPMBB Commercial Mortgage Securities Trust 2014-C19	3.997%	4/15/47	75		81
2	JPMBB Commercial Mortgage Securities Trust 2014-C24	3.639%	11/15/47	14		15
2	Morgan Stanley Capital I Trust 2016-UB11	2.782%	8/15/49	125		128
2,3	Navient Student Loan Trust 2018-BA	3.610%	12/15/59	700		725
2,3	Progress Residential 2017-SFR1 Trust	2.768%	8/17/34	279		280
2,3	Stack Infrastructure Issuer LLC 2019-1A	4.540%	2/25/44	25		26
2,3	Tesla Auto Lease Trust 2018-B	4.120%	10/20/21	100		102
2,3	Tesla Auto Lease Trust 2018-B	4.360%	10/20/21	100		102
2,3	Textainer Marine Containers Limited 2019-A	3.960%	4/20/44	163		166
2	UBS Commercial Mortgage Trust 2019-C16	3.460%	4/15/52	30		32
2	Wells Fargo Commercial Mortgage Trust 2015-C26	3.166%	2/15/48	100		105
2	Wells Fargo Commercial Mortgage Trust 2015-C30	3.664%	9/15/58	260		280
2	Wells Fargo Commercial Mortgage Trust 2018-C48	4.245%	1/15/52	20		22
2	Wells Fargo Commercial Mortgage Trust 2019-C49	4.023%	3/15/52	10		11
2	Wells Fargo Commercial Mortgage Trust 2019-C50	3.635%	5/15/52	50		54
						5,336
Corporate Bonds (48.1%)
	AbbVie Inc.	3.600%	5/14/25	1,150		1,205
	AbbVie Inc.	4.875%	11/14/48	285		314
	AEP Transmission Co. LLC	4.250%	9/15/48	200		232
	Aflac Inc.	3.250%	3/17/25	410		431
	Alexandria Real Estate Equities Inc.	4.000%	2/1/50	325		354
	Allina Health System	3.887%	4/15/49	175		196
3	Allison Transmission Inc.	4.750%	10/1/27	30		31
	Altria Group Inc.	4.400%	2/14/26	494		533
	Altria Group Inc.	4.800%	2/14/29	440		483
	Altria Group Inc.	5.375%	1/31/44	55		62
	Altria Group Inc.	5.950%	2/14/49	25		29
3	American Builders & Contractors Supply Co. Inc.	4.000%	1/15/28	25		25
	Anheuser-Busch InBev Worldwide Inc.	3.750%	7/15/42	100		103
	Appalachian Power Co.	4.500%	3/1/49	100		119
	Apple Inc.	3.350%	2/9/27	500		536
	Apple Inc.	3.850%	8/4/46	771		865
	Aramark Services Inc.	4.750%	6/1/26	60		62
	Arizona Public Service Co.	2.600%	8/15/29	120		121
	AT&T Inc.	3.400%	5/15/25	691		724
	AT&T Inc.	4.300%	12/15/42	90		94
	AT&T Inc.	4.750%	5/15/46	135		149
	AT&T Inc.	5.150%	11/15/46	140		163
	AT&T Inc.	4.500%	3/9/48	55		59

17

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
	AT&T Inc.	4.550%	3/9/49	150		161
	Ball Corp.	4.875%	3/15/26	10		11
2	Bank of America Corp.	3.366%	1/23/26	962		1,007
2	Bank of America Corp.	3.824%	1/20/28	509		549
2	Bank of America Corp.	3.974%	2/7/30	660		723
3	Bausch Health Americas Inc.	9.250%	4/1/26	5		6
3	Bausch Health Cos. Inc.	5.750%	8/15/27	10		11
3	Bausch Health Cos. Inc.	7.000%	1/15/28	40		43
	BB&T Corp.	2.500%	8/1/24	700		709
5	Berkshire Hathaway Inc.	1.125%	3/16/27	1,300		1,538
3	Berry Global Inc.	4.500%	2/15/26	20		20
3	Berry Global Inc.	4.875%	7/15/26	20		21
	BlackRock Inc.	3.200%	3/15/27	400		425
	BlackRock Inc.	3.250%	4/30/29	758		814
	Boeing Co.	3.500%	3/1/39	425		434
	BP Capital Markets America Inc.	3.796%	9/21/25	335		363
	BP Capital Markets America Inc.	3.410%	2/11/26	200		212
	BP Capital Markets America Inc.	3.017%	1/16/27	220		228
	BP Capital Markets America Inc.	3.588%	4/14/27	250		269
3	Bristol-Myers Squibb Co.	3.200%	6/15/26	590		624
3	Bristol-Myers Squibb Co.	3.400%	7/26/29	300		323
	Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.625%	1/15/24	300		309
3	Broadcom Inc.	4.250%	4/15/26	150		157
	Buckeye Partners LP	3.950%	12/1/26	10		9
	Burlington Northern Santa Fe LLC	3.550%	2/15/50	580		618
	Camden Property Trust	3.350%	11/1/49	355		359
	CBS Corp.	2.900%	1/15/27	550		550
3	CCO Holdings LLC / CCO Holdings Capital Corp.	4.750%	3/1/30	40		41
3	CDK Global Inc.	5.250%	5/15/29	20		21
	CDW LLC / CDW Finance Corp.	4.250%	4/1/28	20		21
	Celgene Corp.	4.550%	2/20/48	169		206
	CenterPoint Energy Houston Electric LLC	3.000%	2/1/27	1,000		1,029
3	CFX Escrow Corp.	6.375%	2/15/26	15		16
	Charles Schwab Corp.	3.850%	5/21/25	810		876
	Charter Communications Operating LLC / Charter Communications Operating Capital	4.500%	2/1/24	850		914
	Charter Communications Operating LLC / Charter Communications Operating Capital	5.125%	7/1/49	400		425
	Cheniere Corpus Christi Holdings LLC	5.875%	3/31/25	300		333
	Cheniere Corpus Christi Holdings LLC	5.125%	6/30/27	120		130
3	Churchill Downs Inc.	5.500%	4/1/27	40		42
3	Churchill Downs Inc.	4.750%	1/15/28	20		21
	Cigna Corp.	4.800%	8/15/38	255		291
	Cimarex Energy Co.	3.900%	5/15/27	25		25
	Cimarex Energy Co.	4.375%	3/15/29	45		47
	Citigroup Inc.	3.200%	10/21/26	321		333
2	Citigroup Inc.	3.668%	7/24/28	514		546
3	Clean Harbors Inc.	4.875%	7/15/27	15		16
3	Clean Harbors Inc.	5.125%	7/15/29	15		16
	Comcast Corp.	4.400%	8/15/35	325		376
	Comcast Corp.	3.250%	11/1/39	275		281
	Comcast Corp.	4.700%	10/15/48	899		1,105

18

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
	CommonSpirit Health	2.760%	10/1/24	100		101
	Commonwealth Edison Co.	3.800%	10/1/42	165		181
	Commonwealth Edison Co.	3.750%	8/15/47	130		143
3	CommScope Finance LLC	5.500%	3/1/24	6		6
3	CommScope Finance LLC	8.250%	3/1/27	10		9
	Concho Resources Inc.	4.850%	8/15/48	150		168
	Connecticut Light & Power Co.	3.200%	3/15/27	800		846
	ConocoPhillips Co.	4.300%	11/15/44	100		116
	Constellation Brands Inc.	3.150%	8/1/29	125		127
	Crown Castle International Corp.	3.700%	6/15/26	1,799		1,906
3	CSC Holdings LLC	5.375%	2/1/28	40		42
3	CSC Holdings LLC	5.750%	1/15/30	25		26
	CSX Corp.	4.750%	11/15/48	240		291
	CVS Health Corp.	2.750%	12/1/22	750		766
	CVS Health Corp.	3.700%	3/9/23	365		380
	CVS Health Corp.	3.000%	8/15/26	600		609
	CVS Health Corp.	4.300%	3/25/28	128		139
	CVS Health Corp.	3.250%	8/15/29	40		40
	CVS Health Corp.	4.780%	3/25/38	90		99
	CVS Health Corp.	5.050%	3/25/48	179		205
	DaVita Inc.	5.125%	7/15/24	25		25
	Delta Air Lines Inc.	2.900%	10/28/24	300		299
	Devon Energy Corp.	5.850%	12/15/25	250		297
	Devon Energy Corp.	5.000%	6/15/45	240		274
3	Diamond Sports Group LLC / Diamond Sports Finance Co.	6.625%	8/15/27	30		31
	Diamondback Energy Inc.	4.750%	11/1/24	71		73
	Discovery Communications LLC	5.300%	5/15/49	325		363
	Dominion Energy Inc.	4.050%	9/15/42	200		213
3	Dow Chemical Co.	3.625%	5/15/26	160		168
	Dow Chemical Co.	4.375%	11/15/42	110		115
	DTE Energy Co.	2.600%	6/15/22	880		888
	DTE Energy Co.	3.800%	3/15/27	95		101
	DTE Energy Co.	3.400%	6/15/29	215		223
	Duke Energy Carolinas LLC	2.450%	8/15/29	160		161
	Duke Energy Carolinas LLC	4.250%	12/15/41	130		150
	Duke Energy Corp.	3.400%	6/15/29	700		732
	Duke Energy Florida LLC	3.400%	10/1/46	65		67
	Duke Energy Progress LLC	4.100%	5/15/42	130		148
	DuPont de Nemours Inc.	5.319%	11/15/38	180		215
	Eastman Chemical Co.	4.500%	12/1/28	80		89
	Eastman Chemical Co.	4.650%	10/15/44	30		32
5	Eli Lilly & Co.	0.625%	11/1/31	790		882
	Encompass Health Corp.	4.500%	2/1/28	13		13
	Encompass Health Corp.	4.750%	2/1/30	10		10
	Energy Transfer Operating LP	5.500%	6/1/27	147		165
	Energy Transfer Operating LP	6.250%	4/15/49	270		323
	Energy Transfer Partners LP	4.950%	6/15/28	200		218
	Energy Transfer Partners LP	5.800%	6/15/38	125		142
	Enstar Group Ltd.	4.950%	6/1/29	375		397
	Entergy Louisiana LLC	3.250%	4/1/28	300		316
	Entergy Louisiana LLC	4.200%	9/1/48	170		197
	Entergy Texas Inc.	3.550%	9/30/49	135		140
	Enterprise Products Operating LLC	4.050%	2/15/22	985		1,028

19

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
	Enterprise Products Operating LLC	3.125%	7/31/29	205		210
	Enterprise Products Operating LLC	5.950%	2/1/41	160		205
	Enterprise Products Operating LLC	4.250%	2/15/48	75		80
	Enterprise Products Operating LLC	4.800%	2/1/49	75		86
	EQT Corp.	3.900%	10/1/27	40		35
	Equinix Inc.	5.375%	5/15/27	15		16
	ERP Operating LP	2.500%	2/15/30	730		723
	Evergy Inc.	2.900%	9/15/29	400		402
	Exelon Corp.	4.450%	4/15/46	175		198
	FedEx Corp.	3.100%	8/5/29	390		389
3	FirstEnergy Transmission LLC	4.350%	1/15/25	1,000		1,074
	Fiserv Inc.	2.750%	7/1/24	350		357
	Fiserv Inc.	3.200%	7/1/26	400		418
	Fiserv Inc.	3.500%	7/1/29	190		200
	Florida Power & Light Co.	3.700%	12/1/47	320		351
	FMC Corp.	3.200%	10/1/26	125		128
	FMC Corp.	4.500%	10/1/49	45		48
3	Fox Corp.	5.576%	1/25/49	200		253
	General Mills Inc.	4.700%	4/17/48	75		88
	General Motors Co.	5.200%	4/1/45	100		98
	General Motors Financial Co. Inc.	3.150%	6/30/22	400		406
	General Motors Financial Co. Inc.	3.500%	11/7/24	700		712
	General Motors Financial Co. Inc.	4.350%	1/17/27	108		111
	Gilead Sciences Inc.	3.650%	3/1/26	1,000		1,076
	Goldman Sachs Group Inc.	3.750%	5/22/25	1,139		1,208
2	Goldman Sachs Group Inc.	4.411%	4/23/39	86		97
1,4	Goldman Sachs Group Inc., 3M Australian Bank Bill Rate + 1.550%	2.560%	5/2/24	300		209
	Goodyear Tire & Rubber Co.	4.875%	3/15/27	10		10
	Hartford Financial Services Group Inc.	2.800%	8/19/29	1,115		1,122
	HCA Inc.	5.375%	2/1/25	5		5
	HCA Inc.	5.250%	6/15/26	175		196
	HCA Inc.	5.375%	9/1/26	45		49
	HCA Inc.	5.250%	6/15/49	150		166
	Healthpeak Properties Inc.	3.250%	7/15/26	195		203
	Healthpeak Properties Inc.	3.500%	7/15/29	630		665
3	Hill-Rom Holdings Inc.	4.375%	9/15/27	15		15
	Hilton Domestic Operating Co. Inc.	5.125%	5/1/26	20		21
	Home Depot Inc.	3.900%	12/6/28	96		109
	Home Depot Inc.	2.950%	6/15/29	50		53
	Home Depot Inc.	3.900%	6/15/47	200		230
13	Illinois Tool Works Inc.	2.650%	11/15/26	1,150		1,192
	Intel Corp.	3.700%	7/29/25	400		434
	Intel Corp.	3.734%	12/8/47	328		366
14	International Business Machines Corp.	3.300%	5/15/26	820		867
	JB Hunt Transport Services Inc.	3.875%	3/1/26	285		305
	Johnson Controls International plc	5.125%	9/14/45	28		33
	JPMorgan Chase & Co.	2.295%	8/15/21	290		290
2	JPMorgan Chase & Co.	3.540%	5/1/28	1,368		1,454
2	JPMorgan Chase & Co.	3.509%	1/23/29	30		32
2	JPMorgan Chase & Co.	2.739%	10/15/30	625		623
	Kaiser Foundation Hospitals	3.150%	5/1/27	647		685
	Kinder Morgan Energy Partners LP	5.000%	10/1/21	500		522
	Kinder Morgan Energy Partners LP	5.800%	3/15/35	260		302
	Kinder Morgan Inc.	5.550%	6/1/45	25		29

20

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
3	Kraft Heinz Foods Co.	3.750%	4/1/30	37		38
	Kroger Co.	2.650%	10/15/26	265		264
	Kroger Co.	3.700%	8/1/27	125		133
	Lam Research Corp.	3.750%	3/15/26	200		216
	Lennar Corp.	4.500%	11/15/19	40		40
	Lennar Corp.	5.250%	6/1/26	40		44
3	Level 3 Financing Inc.	4.625%	9/15/27	60		61
	Lincoln National Corp.	4.350%	3/1/48	200		220
3	Live Nation Entertainment Inc.	5.625%	3/15/26	10		11
3	Live Nation Entertainment Inc.	4.750%	10/15/27	45		47
	Lockheed Martin Corp.	3.800%	3/1/45	565		623
	Lowe’s Cos. Inc.	3.100%	5/3/27	355		369
	Lowe’s Cos. Inc.	4.050%	5/3/47	100		107
	Marathon Oil Corp.	4.400%	7/15/27	40		43
	Marathon Oil Corp.	5.200%	6/1/45	20		22
	Marathon Petroleum Corp.	3.800%	4/1/28	100		105
	Marathon Petroleum Corp.	4.750%	9/15/44	40		44
	Mastercard Inc.	3.650%	6/1/49	345		388
	McDonald’s Corp.	2.625%	9/1/29	625		625
	McDonald’s Corp.	3.625%	9/1/49	100		101
5	McKesson Corp.	1.625%	10/30/26	1,000		1,173
5	Medtronic Global Holdings SCA	1.500%	7/2/39	580		670
	Merck & Co. Inc.	3.400%	3/7/29	310		337
	MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer Inc.	4.500%	9/1/26	45		48
	MGM Resorts International	4.625%	9/1/26	35		37
3	Mid-Atlantic Interstate Transmission LLC	4.100%	5/15/28	644		706
2	Morgan Stanley	2.720%	7/22/25	500		506
2	Morgan Stanley	3.591%	7/22/28	275		291
	MPLX LP	4.000%	3/15/28	140		146
	MPLX LP	4.500%	4/15/38	145		147
	MPLX LP	4.700%	4/15/48	70		71
3	Mueller Water Products Inc.	5.500%	6/15/26	25		26
5	Mylan NV	3.125%	11/22/28	750		948
3	National CineMedia LLC	5.875%	4/15/28	20		21
	National Rural Utilities Cooperative Finance Corp.	4.300%	3/15/49	250		297
3	Nestle Holdings Inc.	4.000%	9/24/48	600		700
	Netflix Inc.	4.375%	11/15/26	15		15
	Newmont Goldcorp Corp.	2.800%	10/1/29	380		375
3	Nexstar Escrow Inc.	5.625%	7/15/27	10		11
	NextEra Energy Capital Holdings Inc.	3.550%	5/1/27	500		530
	Noble Energy Inc.	3.850%	1/15/28	100		104
	Noble Energy Inc.	4.200%	10/15/49	40		39
	Norfolk Southern Corp.	4.100%	5/15/49	75		85
	Northrop Grumman Corp.	4.030%	10/15/47	85		95
	NRG Energy Inc.	7.250%	5/15/26	10		11
	Occidental Petroleum Corp.	2.700%	8/15/22	2,185		2,207
	Occidental Petroleum Corp.	2.900%	8/15/24	235		237
	Occidental Petroleum Corp.	5.550%	3/15/26	180		204
	Occidental Petroleum Corp.	6.450%	9/15/36	25		31
	Occidental Petroleum Corp.	4.500%	7/15/44	60		61
	Omega Healthcare Investors Inc.	5.250%	1/15/26	946		1,050
	Omnicom Group Inc. / Omnicom Capital Inc.	3.600%	4/15/26	320		338
	Oncor Electric Delivery Co. LLC	2.950%	4/1/25	445		458

21

Global Credit Bond Fund

				Face		Market
			Maturity	Amount		Value·
		Coupon	Date	($000	)	($000	)
	Oncor Electric Delivery Co. LLC	3.800%	9/30/47	170		190
	ONEOK Inc.	4.450%	9/1/49	135		134
	PacifiCorp	4.150%	2/15/50	200		229
3	Panther BF Aggregator 2 LP / Panther Finance Co. Inc.	8.500%	5/15/27	25		25
3	Parsley Energy LLC / Parsley Finance Corp.	6.250%	6/1/24	10		10
3	Parsley Energy LLC / Parsley Finance Corp.	5.625%	10/15/27	25		26
	PayPal Holdings Inc.	2.400%	10/1/24	400		401
	PECO Energy Co.	4.150%	10/1/44	130		150
3	Performance Food Group Inc.	5.500%	6/1/24	35		36
3	Performance Food Group Inc.	5.500%	10/15/27	30		32
	Pfizer Inc.	3.600%	9/15/28	285		314
	Phillips 66 Partners LP	3.150%	12/15/29	45		44
	Plains All American Pipeline LP / PAA Finance Corp.	4.500%	12/15/26	160		169
	PNC Financial Services Group Inc.	3.150%	5/19/27	78		82
3	Post Holdings Inc.	5.750%	3/1/27	10		11
5	Praxair Inc.	1.200%	2/12/24	4,000		4,691
	Precision Castparts Corp.	2.500%	1/15/23	550		560
	Precision Castparts Corp.	3.250%	6/15/25	180		191
	Principal Financial Group Inc.	3.700%	5/15/29	105		114
	Public Service Co. of Colorado	3.200%	3/1/50	135		137
	Public Service Electric & Gas Co.	3.200%	8/1/49	100		103
	PulteGroup Inc.	5.500%	3/1/26	25		28
3	Qorvo Inc.	4.375%	10/15/29	50		50
	QUALCOMM Inc.	3.450%	5/20/25	600		634
3	Resideo Funding Inc.	6.125%	11/1/26	45		45
	Rockwell Collins Inc.	3.500%	3/15/27	525		564
	Sabine Pass Liquefaction LLC	5.875%	6/30/26	220		252
	Sabra Health Care LP	3.900%	10/15/29	737		735
	Sherwin-Williams Co.	2.950%	8/15/29	135		136
	Simon Property Group LP	3.250%	9/13/49	410		403
3	Sirius XM Radio Inc.	4.625%	7/15/24	10		10
3	Sirius XM Radio Inc.	5.000%	8/1/27	10		10
	SM Energy Co.	6.125%	11/15/22	16		15
	Southern California Edison Co.	4.000%	4/1/47	70		73
	Southern California Edison Co.	4.875%	3/1/49	20		24
	Sprint Corp.	7.125%	6/15/24	10		11
	Sprint Corp.	7.625%	2/15/25	10		11
3	SS&C Technologies Inc.	5.500%	9/30/27	15		16
	T-Mobile USA Inc.	4.750%	2/1/28	30		32
3	Targa Resources Partners LP / Targa Resources Partners Finance Corp.	6.500%	7/15/27	40		43
3	Tenet Healthcare Corp.	4.625%	9/1/24	5		5
3	Tenet Healthcare Corp.	4.875%	1/1/26	30		31
3	Tenet Healthcare Corp.	6.250%	2/1/27	12		13
3	Tenet Healthcare Corp.	5.125%	11/1/27	5		5
	Thermo Fisher Scientific Inc.	2.950%	9/19/26	300		312
3	TransDigm Inc.	6.250%	3/15/26	35		37
	TransDigm Inc.	7.500%	3/15/27	10		11
3	TransDigm Inc.	5.500%	11/15/27	45		45
	Tyson Foods Inc.	5.100%	9/28/48	315		386
	UDR Inc.	3.100%	11/1/34	475		477
	Union Electric Co.	4.000%	4/1/48	65		74
	Union Electric Co.	3.250%	10/1/49	135		138

22

Global Credit Bond Fund

					Face		Market
				Maturity	Amount		Value·
			Coupon	Date	($000	)	($000	)
	United Rentals North America Inc.		4.625%	10/15/25	55		56
	United Rentals North America Inc.		3.875%	11/15/27	25		25
	United Technologies Corp.		2.800%	5/4/24	650		670
	United Technologies Corp.		4.625%	11/16/48	325		403
	UnitedHealth Group Inc.		3.500%	8/15/39	1,068		1,108
	Valero Energy Corp.		4.350%	6/1/28	70		76
	Valero Energy Corp.		4.900%	3/15/45	30		34
	Verisk Analytics Inc.		4.000%	6/15/25	550		595
	Verisk Analytics Inc.		4.125%	3/15/29	135		149
	Verizon Communications Inc.		4.125%	3/16/27	330		367
	Verizon Communications Inc.		4.400%	11/1/34	175		202
	Verizon Communications Inc.		4.522%	9/15/48	555		651
	Verizon Communications Inc.		5.012%	4/15/49	250		320
	Virginia Electric & Power Co.		3.150%	1/15/26	75		78
	Virginia Electric & Power Co.		2.950%	11/15/26	940		979
3	Vistra Operations Co. LLC		5.000%	7/31/27	10		10
	Walt Disney Co.		3.000%	2/13/26	280		296
3	Walt Disney Co.		6.650%	11/15/37	160		239
2	Wells Fargo & Co.		2.879%	10/30/30	700		707
7	Wells Fargo Bank NA		5.250%	8/1/23	4,100		6,016
	Western Digital Corp.		4.750%	2/15/26	30		31
	Western Midstream Operating LP		4.500%	3/1/28	30		29
	Williams Cos. Inc.		3.750%	6/15/27	145		151
	WRKCo Inc.		4.650%	3/15/26	430		475
	WRKCo Inc.		3.900%	6/1/28	270		289
							100,052
Taxable Municipal Bond (0.3%)
15	New Jersey Economic Development Authority
	Revenue (State Pension Funding)		7.425%	2/15/29	550		701
U.S. Government and Agency Obligations (1.7%)
14	United States Treasury Inflation Indexed Bonds		0.250%	7/15/29	2,100		2,126
14,16	United States Treasury Note/Bond		4.375%	2/15/38	745		1,024
	United States Treasury Note/Bond		3.125%	5/15/48	300		360
							3,510
Total United States (Cost $105,861)							109,599
					Shares
Temporary Cash Investments (1.8%)
17	Vanguard Market Liquidity Fund (Cost $3,831)		1.984%		38,307		3,831
					Notional
		Expiration		Exercise	Amount
		Date	Contracts	Price	(000	)
Options Purchased (0.0%)
Exchange-Traded Options (0.0%)
	Put Options
	10-Year U.S. Treasury Note Futures Contracts	11/22/19	42	$129.00	5,418		5

23

Global Credit Bond Fund

					Notional
					Amount on
					Underlying		Market
			Expiration	Exercise	Swap		Value·
		Counterparty	Date	Rate	($000	)	($000	)
Over-the-Counter Swaptions (0.0%)
Call Swaptions
	10-Year Interest Rate Swap, Pays 3M USD LIBOR Quarterly, Receives 1.423% Semiannually	BARC	1/8/20	1.423%	417		2
	10-Year Interest Rate Swap, Pays 3M USD LIBOR Quarterly, Receives 1.130% Semiannually	BNPSW	9/21/20	1.130%	615		5
	10-Year Interest Rate Swap, Pays 3M USD LIBOR Quarterly, Receives 1.420% Semiannually	GSCM	1/8/20	1.420%	417		2
	10-Year Interest Rate Swap, Pays 3M USD LIBOR Quarterly, Receives 1.205% Semiannually	JPMC	1/7/20	1.205%	1,728		3
	10-Year Interest Rate Swap, Pays 3M USD LIBOR Quarterly, Receives 1.721% Semiannually	MSCS	1/22/20	1.721%	417		8
							20
Put Swaptions
	10-Year Interest Rate Swap, Receives 3M USD LIBOR Quarterly, Pays 1.423% Semiannually	BARC	1/8/20	1.423%	417		9
	10-Year Interest Rate Swap, Receives 3M USD LIBOR Quarterly, Pays 1.420% Semiannually	GSCM	1/8/20	1.420%	417		9
	10-Year Interest Rate Swap, Receives 3M USD LIBOR Quarterly, Pays 1.721% Semiannually	MSCS	1/22/20	1.721%	417		3
	5-Year iTraxx Europe-S31-V1, Credit Protection Sold, Receives 1.000% Quarterly	GSI	11/20/19	0.575%	10,35018		1
	5-Year CDX-NA-IG-S32-V1, Credit Protection Sold, Receives 1.000% Quarterly	GSI	11/20/19	0.625%	635		—
	5-Year CDX-NA-IG-S33-V1, Credit Protection Sold, Receives 1.000% Quarterly	GSI	12/18/19	0.625%	827		1
							23
Total Options Purchased (Cost $79)							48
Total Investments (100.8%) (Cost $203,963)							209,708

24

Global Credit Bond Fund

	Amount
	($000	)
Other Assets and Liabilities (-0.8%)
Other Assets	7,373
Liabilities	(9,093	)
	(1,720	)
Net Assets (100%)	207,988

	Amount
	($000	)
Statement of Assets and Liabilities
Assets
Investments in Securities, at Value
Unaffiliated Issuers	205,829
Affiliated Issuers	3,831
Options Purchased	48
Total Investments in Securities	209,708
Investment in Vanguard	10
Receivables for Investment Securities Sold	4,291
Receivables for Accrued Income	1,887
Receivables for Capital Shares Issued	530
Variation Margin Receivable—Futures Contracts	145
Variation Margin Receivable—CC Swap Contracts	7
Unrealized Appreciation—Forward Currency Contracts	279
Unrealized Appreciation—OTC Swap Contracts	32
Other Assets	192
Total Assets	217,081
Liabilities
Payables for Investment Securities Purchased	6,772
Payables for Capital Shares Redeemed	110
Payables to Vanguard	30
Options Written, at Value19	50
Variation Margin Payable—Futures Contracts	254
Variation Margin Payable—CC Swap Contracts	30
Unrealized Depreciation—Forward Currency Contracts	1,773
Unrealized Depreciation—OTC Swap Contracts	74
Total Liabilities	9,093
Net Assets	207,988

25

Global Credit Bond Fund

At October 31, 2019, net assets consisted of:

	Amount
	($000	)
Paid-in Capital	193,721
Total Distributable Earnings (Loss)	14,267
Net Assets	207,988
Investor Shares—Net Assets
Applicable to 2,792,932 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	30,986
Net Asset Value Per Share—Investor Shares	$11.09
Admiral Shares—Net Assets
Applicable to 7,975,680 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	177,002
Net Asset Value Per Share—Admiral Shares	$22.19

·See Note A in Notes to Financial Statements.

1Face amount denominated in Australian dollars.

2The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.

3Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At October 31, 2019, the aggregate value of these securities was $26,533,000, representing 12.8% of net assets.

4Adjustable-rate security; rate shown is effective rate at period end. Certain adjustable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions.

5Face amount denominated in euro.

6Face amount denominated in Canadian dollars.

7Face amount denominated in British pounds.

8Face amount denominated in Japanese yen.

9Face amount denominated in South African rand.

10Guaranteed by multiple countries.

11Security purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of October 31, 2019.

12The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock.

13Securities with a value of $1,101,000 have been segregated as initial margin for open futures contracts.

14Securities with a value of $1,443,000 have been segregated as collateral for open forward currency contracts and over-the-counter swap contracts.

15Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp.

16Securities with a value of $138,000 have been segregated as initial margin for open centrally cleared swap contracts.

17Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

18Notional amount denominated in euro.

19Includes premiums received of $93,000.

BARC—Barclays Bank plc.

BNPSW—BNP Paribas.

CC—Centrally Cleared.

GSCM—Goldman Sachs Bank USA.

GSI—Goldman Sachs International.

JPMC—JPMorgan Chase Bank, N.A.

LIBOR—London Interbank Offered Rate.

MSCS—Morgan Stanley Capital Services LLC.

OTC—Over-the-Counter.

26

Global Credit Bond Fund

Derivative Financial Instruments Outstanding as of Period End
Options Written
				Notional		Market
	Expiration		Exercise	Amount		Value
	Date	Contracts	Price	($000	)	($000	)
Exchange-Traded Options
Put Options
2-Year U.S. Treasury Note Futures Contracts	11/22/19	52	$107.75	11,206		(11	)

				Notional
				Amount on
				Underlying		Market
		Expiration	Exercise	Swap		Value
	Counterparty	Date	Rate	($000	)	($000	)
Over-the-Counter Swaptions
Call Swaptions
10-Year Interest Rate Swap,Receives 3M USD LIBOR Quarterly, Pays 1.360% Semiannually	JPMC	11/7/19	1.360%	961		—
5-Year iTraxx Europe-S31-V1, Credit Protection Sold, Receives 1.000% Quarterly	GSI	11/20/19	0.500%	10,3501		(30	)
5-Year CDX-NA-IG-S32-V1, Credit Protection Sold, Receives 1.000% Quarterly	GSI	11/20/19	0.550%	635		(2	)
5-Year CDX-NA-IG-S33-V1, Credit Protection Sold, Receives 1.000% Quarterly	GSI	12/18/19	0.575%	827		(1	)
						(33	)
Put Swaptions
5-Year iTraxx Europe-S31-V1, Credit Protection Purchased, Pays 1.000% Quarterly	GSI	11/20/19	0.500%	10,3501		(4	)
5-Year CDX-NA-IG-S32-V1, Credit Protection Purchased, Pays 1.000% Quarterly	GSI	11/20/19	0.550%	635		—
5-Year CDX-NA-IG-S33-V1, Credit Protection Purchased, Pays 1.000% Quarterly	GSI	12/18/19	0.575%	827		(2	)
						(6	)
						(39	)
Total Options Written (Premiums Received $93)						(50	)

1 Notional amount denominated in euro.

GSI—Goldman Sachs International.

JPMC—JPMorgan Chase Bank, N.A.

27

Global Credit Bond Fund

Futures Contracts
						($000	)
						Value and
		Number of				Unrealized
		Long (Short	)	Notional		Appreciation
	Expiration	Contracts		Amount		(Depreciation	)
Long Futures Contracts
2-Year U.S. Treasury Note	December 2019	74		15,955		5
30-Year U.S. Treasury Bond	December 2019	33		5,325		18
Euro-Bobl	December 2019	35		5,255		2
Euro-Schatz	December 2019	36		4,500		(5	)
Euro-Bund	December 2019	17		3,257		5
Euro-Buxl	December 2019	9		2,108		(6	)
10-Year Canadian Government Bond	December 2019	9		971		(22	)
AUD 10-Year Treasury Bond	December 2019	3		302		—
						(3	)
Short Futures Contracts
10-Year U.S. Treasury Note	December 2019	(92	)	(11,987	)	141
Ultra 10-Year U.S. Treasury Note	December 2019	(76	)	(10,800	)	115
5-Year U.S. Treasury Note	December 2019	(63	)	(7,510	)	40
Euro-BTP	December 2019	(21	)	(3,384	)	6
Long Gilt	December 2019	(15	)	(2,581	)	(7	)
AUD 3-Year Treasury Bond	December 2019	(13	)	(1,034	)	(1	)
Ultra Long U.S. Treasury Bond	December 2019	(2	)	(380	)	—
						294
						291

Forward Currency Contracts
	Contract					Unrealized	Unrealized
	Settlement		Contract Amount (000)			Appreciation	(Depreciation)
Counterparty	Date		Receive		Deliver	($000)	($000)
Barclays Bank plc	11/4/19	EUR	8,465	USD	9,411	32	—
BNP Paribas	7/22/22	JPY	249,482	USD	2,485	—	(148)
HSBC Bank USA, N.A.	11/4/19	EUR	1,558	USD	1,737	1	—
Goldman Sachs Bank USA	11/4/19	MXN	32,342	USD	1,691	—	(11)
Morgan Stanley Capital Services LLC	11/4/19	EUR	1,339	USD	1,481	13	—
BNP Paribas	11/4/19	EUR	1,171	USD	1,303	4	—
Morgan Stanley Capital Services LLC	11/4/19	GBP	928	USD	1,203	—	—
BNP Paribas	11/4/19	GBP	813	USD	1,046	7	—
Morgan Stanley Capital Services LLC	11/12/19	PEN	2,108	USD	625	5	—
Morgan Stanley Capital Services LLC	12/3/19	EUR	260	USD	290	—	—

28

Global Credit Bond Fund

Forward Currency Contracts (continued)
	Contract					Unrealized	Unrealized
	Settlement		Contract Amount (000)			Appreciation	(Depreciation)
Counterparty	Date		Receive		Deliver	($000)	($000)
J.P. Morgan Securities LLC	12/18/19	JPY	21,620	USD	201	—	—
Goldman Sachs Bank USA	11/4/19	AUD	254	USD	175	1	—
Goldman Sachs Bank USA	12/18/19	NZD	179	USD	114	1	—
Goldman Sachs Bank USA	11/4/19	GBP	75	USD	95	2	—
Goldman Sachs Bank USA	12/18/19	JPY	10,040	USD	94	—	—
J.P. Morgan Securities LLC	12/18/19	AUD	108	USD	75	—	—
J.P. Morgan Securities LLC	12/18/19	NOK	449	USD	50	—	(1)
BNP Paribas	12/18/19	JPY	5,300	USD	50	—	(1)
BNP Paribas	12/18/19	CAD	66	USD	50	—	—
Barclays Bank plc	11/4/19	GBP	33	USD	43	—	—
Morgan Stanley Capital Services LLC	11/4/19	AUD	19	USD	13	—	—
Morgan Stanley Capital Services LLC	11/4/19	CAD	15	USD	11	—	—
Goldman Sachs Bank USA	12/18/19	NZD	100	AUD	93	—	(1)
Morgan Stanley Capital Services LLC	12/18/19	NOK	576	CAD	81	1	—
J.P. Morgan Securities LLC	12/18/19	GBP	17	CAD	27	1	—
Morgan Stanley Capital Services LLC	12/18/19	GBP	17	CAD	27	1	—
Goldman Sachs Bank USA	12/18/19	CAD	55	GBP	33	—	(1)
J.P. Morgan Securities LLC	12/18/19	CAD	41	NOK	285	—	—
J.P. Morgan Securities LLC	12/18/19	CAD	41	NOK	285	—	—
Morgan Stanley Capital Services LLC	11/4/19	USD	43,713	EUR	39,958	—	(864)
Morgan Stanley Capital Services LLC	11/4/19	USD	11,128	GBP	8,983	—	(509)
BNP Paribas	11/4/19	USD	6,476	GBP	5,036	—	(48)
J.P. Morgan Securities LLC	11/4/19	USD	4,952	GBP	3,822	1	—
Morgan Stanley Capital Services LLC	11/4/19	USD	3,999	AUD	5,905	—	(72)
BNP Paribas	7/22/22	USD	2,485	JPY	249,482	148	—
BNP Paribas	11/4/19	USD	2,313	EUR	2,090	—	(18)
Morgan Stanley Capital Services LLC	11/4/19	USD	2,189	CAD	2,897	—	(10)
BNP Paribas	11/29/19	USD	1,749	CAD	2,320	—	(12)
BNP Paribas	11/4/19	USD	1,673	ZAR	24,441	56	—
Morgan Stanley Capital Services LLC	11/4/19	USD	1,486	MXN	29,510	—	(47)
Morgan Stanley Capital Services LLC	11/5/19	USD	1,079	JPY	116,378	1	—
HSBC Bank USA, N.A.	11/4/19	USD	1,015	GBP	781	3	—

29

Global Credit Bond Fund

Forward Currency Contracts (continued)
	Contract					Unrealized	Unrealized
	Settlement		Contract Amount (000)			Appreciation	(Depreciation)
Counterparty	Date		Receive		Deliver	($000)	($000)
Morgan Stanley Capital Services LLC	11/12/19	USD	650	PEN	2,200	—	(7)
BNP Paribas	11/4/19	USD	382	EUR	342	—	—
J.P. Morgan Securities LLC	11/4/19	USD	295	GBP	240	—	(16)
Goldman Sachs Bank USA	11/4/19	USD	194	EUR	176	—	(2)
Morgan Stanley Capital Services LLC	12/18/19	USD	144	JPY	15,415	1	—
Morgan Stanley Capital Services LLC	12/18/19	USD	126	NZD	196	—	—
Goldman Sachs Bank USA	12/18/19	USD	125	AUD	182	—	(1)
J.P. Morgan Securities LLC	12/18/19	USD	114	NZD	179	—	(1)
J.P. Morgan Securities LLC	12/18/19	USD	113	CAD	149	—	(1)
Morgan Stanley Capital Services LLC	12/18/19	USD	104	EUR	93	—	—
HSBC Bank USA, N.A.	11/4/19	USD	64	GBP	51	—	(2)
BNP Paribas	12/18/19	USD	49	NOK	449	—	—
Morgan Stanley Capital Services LLC	11/29/19	USD	35	CAD	47	—	—
Barclays Bank plc	12/18/19	USD	21	GBP	16	—	—
J.P. Morgan Securities LLC	11/4/19	USD	12	CAD	16	—	—
BNP Paribas	11/4/19	USD	10	CAD	14	—	—
Morgan Stanley Capital Services LLC	11/4/19	USD	3	NZD	5	—	—
Goldman Sachs Bank USA	11/4/19	USD	3	CAD	4	—	—
						279	(1,773)

AUD—Australian dollar.

CAD—Canadian dollar.

EUR—euro.

GBP—British pound.

JPY—Japanese yen.

MXN—Mexican peso.

NOK—Norwegian krone.

NZD—New Zealand dollar.

PEN—Peruvian sol.

USD—U.S. dollar.

ZAR—South African rand.

30

Global Credit Bond Fund

Centrally Cleared Credit Default Swaps
				Periodic
				Premium		Unrealized
				Received		Appreciation
	Termination	Notional Amount		(Paid)1	Value	(Depreciation)
Reference Entity	Date	(000)		(%)	($000)	($000)
Credit Protection Sold
CDX-NA-IG-S33-V1	12/20/24	USD	860	1.000	19	1
CDX-NA-IG-S33-V1	12/20/29	USD	435	1.000	(2)	2
						3
Credit Protection Purchased
CDX-NA-IG-S33-V1	12/20/22	USD	1,242	(1.000)	(27)	(2)
iTraxx Europe-S32-V1	12/20/24	EUR	340	(1.000)	(10)	—
						(2)
						1

1 Periodic premium received/paid quarterly.

EUR—euro.

USD—U.S. dollar.

Over-the-Counter Credit Default Swaps
						Remaining
				Periodic		Up-Front
				Premium		Premium
			Notional	Received		Received	Unrealized	Unrealized
Reference	Termination		Amount	(Paid)1	Value	(Paid)	Appreciation	(Depreciation)
Entity	Date	Counterparty	($000)	(%)	($000)	($000)	($000)	($000)
Credit Protection Sold/Moody’s Rating
Republic of Turkey/Ba2	12/20/24	HSBCC	950	1.000	(103)	132	29	—

31

Global Credit Bond Fund

Over-the-Counter Credit Default Swaps (continued)
						Remaining
				Periodic		Up-Front
				Premium		Premium
			Notional	Received		Received	Unrealized	Unrealized
Reference	Termination		Amount	(Paid)1	Value	(Paid)	Appreciation	(Depreciation)
Entity	Date	Counterparty	($000)	(%)	($000)	($000)	($000)	($000)
Credit Protection Purchased
Deutsche Bank AG	12/20/24	GSI	1,0502	(1.000)	29	(29)	—	—
Federative Republic of Brazil	12/20/24	MSCS	900	(1.000)	9	(16)	—	(7)
Republic of Colombia	12/20/24	JPMC	4,000	(1.000)	(40)	16	—	(24)
Republic of Colombia	12/20/24	MSCS	350	(1.000)	(3)	1	—	(2)
Republic of Indonesia	6/20/24	BARC	500	(1.000)	(8)	3	—	(5)
Republic of South Africa	12/20/24	MSCS	850	(1.000)	35	(33)	2	—
Republic of Turkey	12/20/22	HSBCC	1,350	(1.000)	69	(105)	—	(36)
United Mexican States	12/20/24	GSI	950	(1.000)	(4)	5	1	—
					87	(158)	3	(74)
					(16)	(26)	32	(74)

The notional amount represents the maximum potential amount the fund could be required to pay as a seller of credit protection if the reference entity was subject to a credit event.

1 Periodic premium received/paid quarterly.

2 Notional amount denominated in euro.

BARC—Barclays Bank plc.

GSI—Goldman Sachs International.

HSBCC—HSBC Bank USA, N.A.

JPMC—JPMorgan Chase Bank, N.A.

MSCS—Morgan Stanley Capital Services LLC.

32

Global Credit Bond Fund

Centrally Cleared Interest Rate Swaps
			Fixed	Floating
			Interest	Interest
			Rate	Rate		Unrealized
	Future	Notional	Received	Received		Appreciation
	Effective	Amount	(Paid)3	(Paid)	Value	(Depreciation)
Termination Date	Date	($000)	(%)	(%)	($000)	($000)
12/19/22	12/18/191	3,6002	(1.250)	0.0004	(70)	(6)
12/18/24	12/18/191	2,6002	(0.500)	0.0004	41	(9)
12/18/26	12/18/191	2,9002	(1.500)	0.0004	(188)	(17)
10/11/29	N/A	92	1.485	(1.984)5	(1)	(1)
10/15/29	N/A	177	1.555	(2.001)5	(1)	1
					(219)	(32)

1Forward interest rate swap. In a forward interest rate swap, the fund and the counterparty agree to make periodic net payments beginning on a specified future effective date.

2Notional amount denominated in British pounds.

3Fixed interest payment received/paid semiannually.

4Based on 6M GBP LIBOR as of the most recent payment date. Floating interest payment received/paid semiannually.

5Based on 3M USD LIBOR as of the most recent payment date. Floating interest payment received/paid quarterly.

See accompanying Notes, which are an integral part of the Financial Statements.

33

Global Credit Bond Fund

Statement of Operations

	November 15, 20181 to
	October 31, 2019
	($000	)
Investment Income
Income
Interest2	4,641
Total Income	4,641
Expenses
The Vanguard Group—Note B
Investment Advisory Services	21
Management and Administrative—Investor Shares	68
Management and Administrative—Admiral Shares	245
Marketing and Distribution—Investor Shares	3
Marketing and Distribution—Admiral Shares	7
Custodian Fees	34
Auditing Fees	17
Shareholders’ Reports—Investor Shares	1
Shareholders’ Reports—Admiral Shares	1
Total Expenses	397
Expenses Paid Indirectly	(3	)
Net Expenses	394
Net Investment Income	4,247
Realized Net Gain (Loss)
Investment Securities Sold2	8,740
Futures Contracts	(1,131	)
Options Purchased	(10	)
Options Written	34
Swap Contracts	(251	)
Forward Currency Contracts	3,892
Foreign Currencies	(808	)
Realized Net Gain (Loss)	10,466
Change in Unrealized Appreciation (Depreciation)
Investment Securities2	5,776
Futures Contracts	291
Options Purchased	(31	)
Options Written	43
Swap Contracts	(73	)
Forward Currency Contracts	(1,494	)
Foreign Currencies	(2	)
Change in Unrealized Appreciation (Depreciation)	4,510
Net Increase (Decrease) in Net Assets Resulting from Operations	19,223

1Inception.

2Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $154,000, ($1,000), and $1,000, respectively. Purchases and sales are for temporary cash investment purposes.

See accompanying Notes, which are an integral part of the Financial Statements.

34

Global Credit Bond Fund

Statement of Changes in Net Assets

	November 15, 20181 to
	October 31, 2019
	($000	)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	4,247
Realized Net Gain (Loss)	10,466
Change in Unrealized Appreciation (Depreciation)	4,510
Net Increase (Decrease) in Net Assets Resulting from Operations	19,223
Distributions
Net Investment Income
Investor Shares	(573	)
Admiral Shares	(3,184	)
Realized Capital Gain
Investor Shares	—
Admiral Shares	—
Total Distributions	(3,757	)
Capital Share Transactions
Investor Shares	28,602
Admiral Shares	163,920
Net Increase (Decrease) from Capital Share Transactions	192,522
Total Increase (Decrease)	207,988
Net Assets
Beginning of Period	—
End of Period	207,988
1 Inception.

See accompanying Notes, which are an integral part of the Financial Statements.

35

Global Credit Bond Fund

Financial Highlights

Investor Shares

	November 15, 20181 to
For a Share Outstanding Throughout the Period	October 31, 2019
Net Asset Value, Beginning of Period	$10.00
Investment Operations
Net Investment Income2	.287
Net Realized and Unrealized Gain (Loss) on Investments	1.045
Total from Investment Operations	1.332
Distributions
Dividends from Net Investment Income	(.242	)
Distributions from Realized Capital Gains	—
Total Distributions	(.242	)
Net Asset Value, End of Period	$11.09
Total Return3	13.46%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$31
Ratio of Total Expenses to Average Net Assets	0.35%4
Ratio of Net Investment Income to Average Net Assets	2.78%4
Portfolio Turnover Rate	284%

1Inception.

2Calculated based on average shares outstanding.

3Total returns do not include account service fees that may have applied in the period shown. Fund prospectuses provide information about any applicable account service fees.

4Annualized.

See accompanying Notes, which are an integral part of the Financial Statements.

36

Global Credit Bond Fund

Financial Highlights

Admiral Shares

	November 15, 20181 to
For a Share Outstanding Throughout the Period	October 31, 2019
Net Asset Value, Beginning of Period	$20.00
Investment Operations
Net Investment Income2	.591
Net Realized and Unrealized Gain (Loss) on Investments	2.101
Total from Investment Operations	2.692
Distributions
Dividends from Net Investment Income	(.502	)
Distributions from Realized Capital Gains	—
Total Distributions	(.502	)
Net Asset Value, End of Period	$22.19
Total Return3	13.60%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$177
Ratio of Total Expenses to Average Net Assets	0.25%4
Ratio of Net Investment Income to Average Net Assets	2.88%4
Portfolio Turnover Rate	284%

1Inception.

2Calculated based on average shares outstanding.

3Total returns do not include account service fees that may have applied in the period shown. Fund prospectuses provide information about any applicable account service fees.

4Annualized.

See accompanying Notes, which are an integral part of the Financial Statements.

37

Global Credit Bond Fund

Notes to Financial Statements

Vanguard Global Credit Bond Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. Certain of the fund’s investments are in corporate debt instruments; the issuers’ abilities to meet their obligations may be affected by economic developments in their respective industries. The fund invests in securities of foreign issuers, which may subject it to investment risks not normally associated with investing in securities of U.S. corporations. To minimize the currency risk associated with investment in securities denominated in currencies other than the U.S. dollar, the fund attempts to hedge its currency exposures. The fund offers two classes of shares: Investor Shares and Admiral Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors.

A.   The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Structured debt securities, including mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer, tranche, nominal or option-adjusted spreads, weighted average coupon, weighted average maturity, credit enhancements, and collateral. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued at their fair values calculated according to procedures adopted by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market-or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund’s pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund’s pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse

38

Global Credit Bond Fund

is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any assets pledged as initial margin for open contracts are noted in the Statement of Net Assets.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

During the period ended October 31, 2019, the fund’s average investments in long and short futures contracts represented 21% and 20% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

4. Forward Currency Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. The fund’s risks in using these contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts. The fund mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. The master netting arrangements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate the forward currency contracts, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The forward currency contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any assets pledged as collateral for open contracts are noted in the Statement of Net Assets. The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

Forward currency contracts are valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized forward currency contract gains (losses).

During the period ended October 31, 2019, the fund’s average investment in forward currency contracts represented 72% of net assets, based on the average of notional amounts at each quarter-end during the period.

39

Global Credit Bond Fund

5. Swap Contracts: The fund invests in credit default swaps to adjust the overall credit risk of the fund or to actively overweight or underweight credit risk to a specific issuer or group of issuers. The fund may sell credit protection through credit default swaps to simulate investments in long positions that are either unavailable or considered to be less attractively priced in the bond market. The fund may purchase credit protection through credit default swaps to reduce credit exposure to a given issuer or issuers. Under the terms of the swaps, an up-front payment may be exchanged between the seller and buyer. In addition, the seller of the credit protection receives a periodic payment of premium from the buyer that is a fixed percentage applied to a notional amount. If, for example, the reference entity is subject to a credit event (such as bankruptcy, failure to pay, or obligation acceleration) during the term of the swap, the seller agrees to either physically settle or cash settle the swap contract. If the swap is physically settled, the seller agrees to pay the buyer an amount equal to the notional amount and take delivery of a debt instrument of the reference issuer with a par amount equal to such notional amount. If the swap is cash settled, the seller agrees to pay the buyer the difference between the notional amount and the final price for the relevant debt instrument, as determined either in a market auction or pursuant to a pre-agreed-upon valuation procedure.

The fund enters into interest rate swap transactions to adjust the fund’s sensitivity to changes in interest rates and maintain the ability to generate income at prevailing market rates. Under the terms of the swaps, one party pays the other an amount that is a fixed percentage rate applied to a notional amount. In return, the counterparty agrees to pay a floating rate, which is reset periodically based on short-term interest rates, applied to the same notional amount.

The notional amounts of swap contracts are not recorded in the Statement of Net Assets. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the seller of credit protection is required to take delivery (or, in a cash settled swap, pay the settlement amount determined) upon occurrence of a credit event, periodic payments are made, or the swap terminates, at which time realized gain (loss) is recorded. The net premium to be received or paid by the fund under swap contracts is accrued daily and recorded as realized gain (loss) over the life of the contract.

The primary risk associated with selling credit protection is that, upon the occurrence of a defined credit event, the market value of the debt instrument received by the fund (or, in a cash settled swap, the debt instruments used to determine the settlement payment by the fund) will be significantly less than the amount paid by the fund and, in a physically settled swap, the fund may receive an illiquid debt instrument. A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position

40

Global Credit Bond Fund

at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Statement of Net Assets. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The fund enters into centrally cleared interest rate and credit default swaps to achieve the same objectives specified with respect to the equivalent over-the-counter swaps but with less counterparty risk because a regulated clearinghouse is the counterparty instead of the clearing broker or executing broker. The clearinghouse imposes initial margin requirements to secure the fund’s performance, and requires daily settlement of variation margin representing changes in the market value of each contract. To further mitigate counterparty risk, the fund trades with a diverse group of prequalified executing brokers; monitors the financial strength of its clearing brokers, executing brokers, and clearinghouse; and has entered into agreements with its clearing brokers and executing brokers.

During the period ended October 31, 2019, the fund’s average amounts of investments in credit protection sold and credit protection purchased represented 1% and 5% of net assets, respectively, based on the average of notional amounts at each quarter-end during the period. The average amount of investments in interest rate swaps represented 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

6. Options: The fund invests in options contracts on futures and swaps to adjust its exposure to the underlying investments. The primary risk associated with purchasing options is that the value of the underlying investments may move in such a way that the option is out-of-the-money (the exercise price of the option exceeds the value of the underlying investment), the position is worthless at expiration, and the fund loses the premium paid. The primary risk associated with selling options is that the value of the underlying investments may move in such a way that the option is in-the-money (the exercise price of the option exceeds the value of the underlying investment), the counterparty exercises the option, and the fund loses an amount equal to the market value of the option written less the premium received.

The fund invests in options on futures, which are exchange-traded. Counterparty risk involving exchange-traded options on futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades options on futures on an exchange, monitors the financial strength of its clearing brokers and clearinghouses, and has entered into clearing agreements with its clearing brokers.

The fund invests in options on swaps (swaptions), which are transacted over-the-counter (OTC) and not on an exchange. A receiver swaption gives the owner the right to receive the total return of a specified asset, reference rate, or index. A payer swaption gives the owner the right to pay the total return of a specified asset, reference rate, or index. Swaptions also include options that allow an existing swap to be terminated or extended by one of the counterparties. Unlike exchange-traded options, which are standardized with respect to the underlying instrument, expiration date, contract size, and strike price, the terms of OTC options generally are established through negotiation with the other party to the option contract. Although this type of arrangement allows the purchaser or writer greater flexibility to tailor an option to its needs, OTC options generally involve greater credit risk than exchange-traded options. Credit risk involves the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund mitigates its counterparty risk by entering into swaptions with a diverse group of prequalified counterparties and monitoring their financial strength.

41

Global Credit Bond Fund

Options on futures contracts are valued at their quoted daily settlement prices. Swaptions are valued daily based on market quotations received from independent pricing services or recognized dealers. The premium paid for a purchased option is recorded in the Statement of Assets and Liabilities as an asset that is subsequently adjusted daily to the current market value of the option purchased. The premium received for a written option is recorded in the Statement of Assets and Liabilities as an asset with an equal liability that is subsequently adjusted daily to the current market value of the option written. Fluctuations in the value of the options are recorded in the Statement of Operations as unrealized appreciation (depreciation) until expired, closed, or exercised, at which time realized gains (losses) are recognized.

During the period ended October 31, 2019, the fund’s average value of investments in options purchased and options written each represented less than 1% of net assets, based on the average market values at each quarter-end during the period.

The following table summarizes the fund’s derivative assets and liabilities by counterparty for derivatives subject to arrangements that provide for offsetting assets and liabilities. Exchange-traded and centrally cleared derivatives are listed separately.

	Assets		Liabilities				Amounts Not Offset in
	Reflected in		Reflected in				the Statement of Assets				Net
	Statement of		Statement of		Net Amount		and Liabilities				Exposure3
	Assets and		Assets and		Receivable		Collateral		Collateral		(Not Less
	Liabilities1		Liabilities1		(Payable	)	Pledged2		Received2		Than $0	)
	($000	)	($000	)	($000	)	($000	)	($000	)	($000	)
Derivatives Subject to Offsetting Arrangements, by Counterparty
Barclays Capital	43		(5	)	38		—		—		38
BNP Paribas	220		(227	)	(7	)	65		—		—
Goldman Sachs	18		(55	)	(37	)	—		—		—
HSBC Bank USA, N.A.	33		(38	)	(5	)	—		—		—
JPMorgan	5		(43	)	(38	)	26		—		—
Morgan Stanley Capital Services LLC	35		(1,518	)	(1,483	)	1,352		—		—
Centrally Cleared Swap Contracts	7		(30	)	(23	)	138		—		—
Exchange-Traded Futures Contracts	145		(254	)	(109	)	1,101		—		—
Total	506		(2,170	)	(1,664	)	2,682		—		38

1Absent an event of default or early termination, derivative assets and liabilities are presented gross and not offset in the Statement of Assets and Liabilities.

2Securities or other assets pledged as collateral are noted in the Statement of Net Assets. Securities or other assets received as collateral are held in a segregated account and not included in the fund’s security holdings in the Statement of Net Assets.

3Net exposure represents the net amount receivable from the counterparty in the event of default. Counterparties are not required to exchange collateral if amount is below a specified minimum transfer amount.

42

Global Credit Bond Fund

7. Federal Income Taxes: The fund intends to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for the period ended October 31, 2019, and has concluded that no provision for federal income tax is required in the fund’s financial statements.

8. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes.

9. Credit Facility: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.

The fund had no borrowings outstanding at October 31, 2019, or at any time during the period then ended.

10. Other: Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities purchased are amortized and accreted, respectively, to interest income over the lives of the respective securities. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B.   In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At October 31, 2019, the fund had contributed to Vanguard capital in the amount of $10,000, representing less than 0.01% of the fund’s net assets and 0.00% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

43

Global Credit Bond Fund

C.   The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the period ended October 31, 2019, custodian fee offset arrangements reduced the fund’s expenses by $3,000 (an annual rate of 0.00% of average net assets).

D.   Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

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 fund’s own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Statement of Net Assets.

The following table summarizes the market value of the fund’s investments and derivatives as of October 31, 2019, based on the inputs used to value them:

	Level 1		Level 2		Level 3
Investments	($000	)	($000	)	($000	)
Sovereign Bonds	—		35,944		—
Corporate Bonds	—		159,244		—
Asset-Backed/Commercial Mortgage-Backed Securities	—		6,430		—
Taxable Municipal Bonds	—		701		—
U.S. Government and Agency Obligations	—		3,510		—
Temporary Cash Investments	3,831		—		—
Options Purchased	5		43		—
Options Written	(11	)	(39	)	—
Futures Contracts—Assets1	145		—		—
Futures Contracts—Liabilities1	(254	)	—		—
Forward Currency Contracts—Assets	—		279		—
Forward Currency Contracts—Liabilities	—		(1,773	)	—
Swap Contracts—Assets	71		32		—
Swap Contracts—Liabilities	(30	)1	(74	)	—
Total	3,693		204,297		—

1 Represents variation margin on the last day of the reporting period.

44

Global Credit Bond Fund

E.   At October 31, 2019, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:

	Interest Rate		Currency		Credit
	Contracts		Contracts		Contracts		Total
Statement of Assets and Liabilities Caption	($000	)	($000	)	($000	)	($000	)
Options Purchased	46		—		2		48
Variation Margin Receivable—Futures Contracts	145		—		—		145
Variation Margin Receivable—CC Swap Contracts	7		—		—		7
Unrealized Appreciation—Forward Currency Contracts	—		279		—		279
Unrealized Appreciation—OTC Swap Contracts	—		—		32		32
Total Assets	198		279		34		511
Options Written	(11	)	—		(39	)	(50	)
Variation Margin Payable—Futures Contracts	(254	)	—		—		(254	)
Variation Margin Payable—CC Swap Contracts	(29	)	—		(1	)	(30	)
Unrealized Depreciation—Forward Currency Contracts	—		(1,773	)	—		(1,773	)
Unrealized Depreciation—OTC Swap Contracts	—		—		(74	)	(74	)
Total Liabilities	(294	)	(1,773	)	(114	)	(2,181	)

Realized net gain (loss) and the change in unrealized appreciation (depreciation) on derivatives for the period ended October 31, 2019, were:

	Interest Rate		Currency		Credit
	Contracts		Contracts		Contracts		Total
Realized Net Gain (Loss) on Derivatives	($000	)	($000	)	($000	)	($000	)
Futures Contracts	(1,131	)	—		—		(1,131	)
Options Purchased	(28	)	20		(2	)	(10	)
Options Written	28		—		6		34
Swap Contracts	4		—		(255	)	(251	)
Forward Currency Contracts	—		3,892		—		3,892
Realized Net Gain (Loss) on Derivatives	(1,127	)	3,912		(251	)	2,534
Change in Unrealized Appreciation (Depreciation) on Derivatives
Futures Contracts	291		—		—		291
Options Purchased	(12	)	—		(19	)	(31	)
Options Written	16		—		27		43
Swap Contracts	(32	)	—		(41	)	(73	)
Forward Currency Contracts	—		(1,494	)	—		(1,494	)
Change in Unrealized Appreciation (Depreciation) on Derivatives	263		(1,494	)	(33	)	(1,264	)

45

Global Credit Bond Fund

F.   Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for foreign currency transactions, distributions in connection with fund share redemptions, and swap agreements were reclassified between the following accounts:

	Amount
	($000	)
Paid-in Capital	1,199
Total Distributable Earnings (Loss)	(1,199	)

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the tax deferral of losses on wash sales and straddles, the realization of unrealized gains or losses on certain futures contracts, forward currency contracts, and options, and the tax recognition of gain or loss from foreign currency hedges. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

	Amount
	($000	)
Undistributed Ordinary Income	9,145
Undistributed Long-Term Gains	—
Capital Loss Carryforwards (Non-expiring)	—
Net Unrealized Gains (Losses)	5,123

As of October 31, 2019, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount
	($000	)
Tax Cost	204,534
Gross Unrealized Appreciation	6,063
Gross Unrealized Depreciation	(933	)
Net Unrealized Appreciation (Depreciation)	5,130

G.   During the period ended October 31, 2019, the fund purchased $539,373,000 of investment securities and sold $358,045,000 of investment securities, other than U.S. government securities and temporary cash investments. Purchases and sales of U.S. government securities were $30,555,000 and $27,333,000, respectively.

46

Global Credit Bond Fund

H.   Capital share transactions for each class of shares were:

	November 15, 20181 to
	October 31, 2019
	Amount		Shares
	($000	)	(000	)
Investor Shares
Issued	60,830		5,921
Issued in Lieu of Cash Distributions	478		45
Redeemed	(32,706	)	(3,173	)
Net Increase (Decrease)—Investor Shares	28,602		2,793
Admiral Shares
Issued	201,821		9,744
Issued in Lieu of Cash Distributions	2,559		120
Redeemed	(40,460	)	(1,888	)
Net Increase (Decrease)—Admiral Shares	163,920		7,976

1 Inception.

I.    Management has determined that no events or transactions occurred subsequent to October 31, 2019, that would require recognition or disclosure in these financial statements.

47

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Charlotte Funds and Shareholders of Vanguard Global Credit Bond Fund

Opinion on the Financial Statements

We have audited the accompanying statement of net assets and statement of assets and liabilities of Vanguard Global Credit Bond Fund (one of the funds constituting Vanguard Charlotte Funds, referred to hereafter as the “Fund”) as of October 31, 2019, and the related statements of operations and changes in net assets, including the related notes, and the financial highlights for the period November 15, 2018 (inception) through October 31, 2019 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2019, and the results of its operations, changes in its net assets, and the financial highlights for the period November 15, 2018 (inception) through October 31, 2019 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audit. 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 Fund 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 audit 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 audit 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 audit 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, 2019 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audit provides a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 18, 2019

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

48

BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P. BARCLAYS is a trademark and service mark of Barclays Bank Plc, used under license. Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL) (collectively, Bloomberg), or Bloomberg’s licensors, own all proprietary rights in the Bloomberg Barclays Global Aggregate Credit Index (USD Hedged) (Index or Bloomberg Barclays Index).

Neither Barclays Bank Plc, Barclays Capital Inc., or any affiliate (collectively Barclays) or Bloomberg is the issuer or producer of Vanguard Global Credit Bond Fund and neither Bloomberg nor Barclays has any responsibilities, obligations or duties to investors in Vanguard Global Credit Bond Fund. The Index is licensed for use by The Vanguard Group, Inc. (Vanguard) as the sponsor of Vanguard Global Credit Bond Fund. Bloomberg and Barclays’ only relationship with Vanguard in respect of the Index is the licensing of the Index, which is determined, composed and calculated by BISL, or any successor thereto, without regard to the Issuer or Vanguard Global Credit Bond Fund or the owners of Vanguard Global Credit Bond Fund.

Additionally, Vanguard may for itself execute transaction(s) with Barclays in or relating to the Index in connection with Vanguard Global Credit Bond Fund. Investors acquire Vanguard Global Credit Bond Fund from Vanguard and investors neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with Bloomberg or Barclays upon making an investment in Vanguard Global Credit Bond Fund. Vanguard Global Credit Bond Fund is not sponsored, endorsed, sold or promoted by Bloomberg or Barclays. Neither Bloomberg nor Barclays makes any representation or warranty, express or implied regarding the advisability of investing in Vanguard Global Credit Bond Fund or the advisability of investing in securities generally or the ability of the Index to track corresponding or relative market performance. Neither Bloomberg nor Barclays has passed on the legality or suitability of Vanguard Global Credit Bond Fund with respect to any person or entity. Neither Bloomberg nor Barclays is responsible for and has not participated in the determination of the timing of, prices at, or quantities of Vanguard Global Credit Bond Fund to be issued. Neither Bloomberg nor Barclays has any obligation to take the needs of the Issuer or the owners of Vanguard Global Credit Bond Fund or any other third party into consideration in determining, composing or calculating the Index. Neither Bloomberg nor Barclays has any obligation or liability in connection with administration, marketing or trading of Vanguard Global Credit Bond Fund.

The licensing agreement between Bloomberg and Barclays is solely for the benefit of Bloomberg and Barclays and not for the benefit of the owners of Vanguard Global Credit Bond Fund, investors or other third parties. In addition, the licensing agreement between Vanguard and Bloomberg is solely for the benefit of Vanguard and Bloomberg and not for the benefit of the owners of Vanguard Global Credit Bond Fund, investors or other third parties.

NEITHER BLOOMBERG NOR BARCLAYS SHALL HAVE ANY LIABILITY TO THE ISSUER, INVESTORS OR TO OTHER THIRD PARTIES FOR THE QUALITY, ACCURACY AND/OR COMPLETENESS OF THE BLOOMBERG BARCLAYS INDEX OR ANY DATA INCLUDED THEREIN OR FOR INTERRUPTIONS IN THE DELIVERY OF THE BLOOMBERG BARCLAYS INDEX. NEITHER BLOOMBERG NOR BARCLAYS MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE ISSUER, THE INVESTORS OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BLOOMBERG BARCLAYS INDEX OR ANY DATA INCLUDED THEREIN. NEITHER BLOOMBERG NOR BARCLAYS MAKES ANY EXPRESS OR IMPLIED WARRANTIES, AND EACH HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE BLOOMBERG BARCLAYS INDEX OR ANY DATA INCLUDED THEREIN. BLOOMBERG RESERVES THE RIGHT TO CHANGE THE METHODS OF CALCULATION OR PUBLICATION, OR TO CEASE THE CALCULATION OR PUBLICATION OF THE BLOOMBERG BARCLAYS INDEX, AND NEITHER BLOOMBERG NOR BARCLAYS SHALL BE LIABLE FOR ANY MISCALCULATION OF OR ANY INCORRECT, DELAYED OR INTERRUPTED PUBLICATION WITH RESPECT TO ANY OF THE BLOOMBERG BARCLAYS INDICES. NEITHER BLOOMBERG NOR BARCLAYS SHALL BE LIABLE FOR ANY DAMAGES, INCLUDING, WITHOUT LIMITATION, ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, OR ANY LOST PROFITS AND EVEN IF ADVISED OF THE POSSIBILITY OF SUCH, RESULTING FROM THE USE OF THE BLOOMBERG BARCLAYS INEX OR ANY DATA INCLUDED THEREIN OR WITH RESPECT TO VANGUARD GLOBAL CREDIT BOND FUND.

None of the information supplied by Bloomberg or Barclays and used in this publication may be reproduced in any manner without the prior written permission of both Bloomberg and Barclays Capital, the investment banking division of Barclays Bank Plc. Barclays Bank Plc is registered in England No. 1026167. Registered office 1 Churchill Place London E14 5HP.

© 2019 Bloomberg. Used with Permission.

Source: Bloomberg Index Services Limited. Copyright 2019, Bloomberg. All rights reserved.

49

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard’s board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 213 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the Statement of Additional Information, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

Interested Trustee1

Mortimer J. Buckley

Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (January 2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (January 2018–present) of Vanguard; chief executive officer, president, and trustee (January 2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (February 2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Chairman of the board (2011–2017) and trustee (2009–2017) of the Children’s Hospital of Philadelphia; trustee (2018–present) of The Shipley School.

Independent Trustees

Emerson U. Fullwood

Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Director of SPX FLOW, Inc. (multi-industry manufacturing). Director of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, and Roberts Wesleyan College. Trustee of the University of Rochester.

Amy Gutmann

Born in 1949. Trustee since June 2006. Principal occupation(s) during the past five years and other experience: president (2004–present) of the University of Pennsylvania. Christopher H. Browne Distinguished Professor of Political Science, School of Arts and Sciences, and professor of communication, Annenberg School for Communication, with secondary faculty appointments in the Department of Philosophy, School of Arts and Sciences, and at the Graduate School of Education, University of Pennsylvania. Trustee of the National Constitution Center.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services), and the Lumina Foundation.

1Mr. Buckley is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

Director of the V Foundation and Oxfam America. Member of the advisory council for the College of Arts and Letters and chair of the advisory board to the Kellogg Institute for International Studies, both at the University of Notre Dame.

Mark Loughridge

Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM’s Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

Scott C. Malpass

Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: chief investment officer (1989–present) and vice president (1996–present) of the University of Notre Dame. Assistant professor of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Chairman of the board of TIFF Advisory Services, Inc. Member of the board of Catholic Investment Services, Inc. (investment advisors) and the board of superintendence of the Institute for the Works of Religion.

Deanna Mulligan

Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: president (2010–present) and chief executive officer (2011–present) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of The Guardian Life Insurance Company of America. Member of the board of The Guardian Life Insurance Company of America, the American Council of Life Insurers, the Partnership for New York City (business leadership), and the Committee Encouraging Corporate Philanthropy. Trustee of the Economic Club of New York and the Bruce Museum (arts and science). Member of the Advisory Council for the Stanford Graduate School of Business.

André F. Perold

Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Board of advisors and investment committee member of the Museum of Fine Arts Boston. Board member (2018–present) of RIT Capital Partners (investment firm); investment committee member of Partners Health Care System.

Sarah Bloom Raskin

Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Member of the board of directors (2012–2014) of Neighborhood Reinvestment Corporation. Director (2017–present) of i(x) Investments; director (2017–present) of Reserve Trust. Rubinstein Fellow (2017–present) of Duke University; trustee (2017–present) of Amherst College.

Peter F. Volanakis

Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Chairman of the board of trustees of Colby-Sawyer College. Member of the board of Hypertherm Inc. (industrial cutting systems, software, and consumables).

Executive Officers

John Bendl

Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (October 2019–present) of each of the investment companies served by Vanguard. Chief accounting officer, treasurer, and controller of Vanguard (2017–present). Partner (2003–2016) at KPMG (audit, tax, and advisory services).

Glenn Booraem

Born in 1967. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (2017–present), treasurer (2015–2017), controller (2010–2015), and assistant controller (2001–2010) of each of the investment companies served by Vanguard.

Christine M. Buchanan

Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Treasurer (2017–present) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

David Cermak

Born in 1960. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Finance director (October 2019–present) of each of the investment companies served by Vanguard. Managing director and head (2017–present) of Vanguard Investments Singapore. Managing director and head (2017–2019) of Vanguard Investments Hong Kong. Representative director and head (2014–2017) of Vanguard Investments Japan.

Thomas J. Higgins

Born in 1957. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Finance director (October 2019–present), chief financial officer (2008–2019), and treasurer (1998–2008) of each of the investment companies served by Vanguard.

Peter Mahoney

Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

Anne E. Robinson

Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express.

Michael Rollings

Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

John E. Schadl

Born in 1972. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (2019–present) of Vanguard and of each of the investment companies served by Vanguard. Assistant vice president (May 2019–present) of Vanguard Marketing Corporation.

Vanguard Senior Management Team

Joseph Brennan	Chris D. McIsaac
Mortimer J. Buckley	James M. Norris
Gregory Davis	Thomas M. Rampulla
John James	Karin A. Risi
Martha G. King	Anne E. Robinson
John T. Marcante	Michael Rollings

P.O. Box 2600

Valley Forge, PA 19482-2600

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This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard’s proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC’s website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

CFA® is a registered trademark owned by CFA Institute.

© 2019 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

Q20250 122019

Item 2: Code of Ethics. The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions. The Code of Ethics was amended during the reporting period covered by this report to make certain technical, non-material changes.

Item 3: Audit Committee Financial Expert. All members of the Audit Committee have been determined by the Registrant’s Board of Trustees to be Audit Committee Financial Experts and to be independent: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.

Item 4: Principal Accountant Fees and Services.

(a)        Audit Fees.

Audit Fees of the Registrant.

Fiscal Year Ended October 31, 2019: $172,000
Fiscal Year Ended October 31, 2018: $142,000

Aggregate Audit Fees of Registered Investment Companies in the Vanguard Group.

Fiscal Year Ended October 31, 2019: $9,568,215
Fiscal Year Ended October 31, 2018: $9,734,277

Includes fees billed in connection with audits of the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

(b)        Audit-Related Fees.

Fiscal Year Ended October 31, 2019: $3,012,031
Fiscal Year Ended October 31, 2018: $5,581,336

Includes fees billed in connection with assurance and related services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

(c)        Tax Fees.

Fiscal Year Ended October 31, 2019: $357,238
Fiscal Year Ended October 31, 2018: $347,985

Includes fees billed in connection with tax compliance, planning, and advice services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

(d)        All Other Fees.

Fiscal Year Ended October 31, 2019: $0
Fiscal Year Ended October 31, 2018: $0

Includes fees billed for services related to tax reported information provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

(e)        (1) Pre-Approval Policies. The policy of the Registrant’s Audit Committee is to consider, and, if appropriate, approve before the principal accountant is engaged for such services, all specific audit and non-audit services provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant. In making a determination, the Audit Committee considers whether the services are consistent with maintaining the principal accountant’s independence.

In the event of a contingency situation in which the principal accountant is needed to provide services in between scheduled Audit Committee meetings, the Chairman of the Audit Committee would be called on to consider and, if appropriate, pre-approve audit or permitted non-audit services in an amount sufficient to complete services through the next Audit Committee meeting, and to determine if such services would be consistent with maintaining the accountant’s independence. At the next scheduled Audit Committee meeting, services and fees would be presented to the Audit Committee for formal consideration, and, if appropriate, approval by the entire Audit Committee. The Audit Committee would again consider whether such services and fees are consistent with maintaining the principal accountant’s independence.

The Registrant’s Audit Committee is informed at least annually of all audit and non-audit services provided by the principal accountant to the Vanguard complex, whether such services are provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., or other entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant.

(2) No percentage of the principal accountant’s fees or services were approved pursuant to the waiver provision of paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f)         For the most recent fiscal year, over 50% of the hours worked under the principal accountant’s engagement were not performed by persons other than full-time, permanent employees of the principal accountant.

(g)        Aggregate Non-Audit Fees.

Fiscal Year Ended October 31, 2019: $357,238
Fiscal Year Ended October 31, 2018: $347,985

Includes fees billed for non-audit services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

(h)        For the most recent fiscal year, the Audit Committee has determined that the provision of all non-audit services was consistent with maintaining the principal accountant’s independence.

Item 5: Audit Committee of Listed Registrants.

The Registrant is a listed issuer as defined in rule 10A-3 under the Securities Exchange Act of 1934 (“Exchange Act”). The Registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. The Registrant’s audit committee members are: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.

Item 6: Investments.

Not applicable.

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

Not applicable.

Item 8: Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

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

Not applicable.

Item 10: Submission of Matters to a Vote of Security Holders.

Not applicable.

Item 11: Controls and Procedures.

(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

(b) Internal Control Over Financial Reporting. There were no significant changes in Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Item 12: Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies.

Not applicable.

Item 13: Exhibits.

(a)  Code of Ethics.

(b)  Certifications.

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.

	VANGUARD CHARLOTTE FUNDS
BY:	/s/ MORTIMER J. BUCKLEY*
	MORTIMER J. BUCKLEY
	CHIEF EXECUTIVE OFFICER

Date:  December 18, 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.

	VANGUARD CHARLOTTE FUNDS
BY:	/s/ MORTIMER J. BUCKLEY*
	MORTIMER J. BUCKLEY
	CHIEF EXECUTIVE OFFICER
Date:  December 18, 2019
	VANGUARD CHARLOTTE FUNDS
BY:	/s/ JOHN BENDL*
	JOHN BENDL
	CHIEF FINANCIAL OFFICER
Date: December 18, 2019

* By: /s/ Anne E. Robinson

Anne E. Robinson, pursuant to a Power of Attorney filed on January 18, 2018 (see file Number 33-32216) and a Power of Attorney filed on October 30, 2019 (see file Number 811-02554), Incorporated by Reference.