Fidelity Concord Street Trust 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 811-5251

Fidelity Concord Street Trust
(Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices) (Zip code)

Eric D. Roiter, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:	February 29
Date of reporting period:	February 29, 2008

Item 1. Reports to Stockholders

Spartan® Total Market Index
Spartan Extended Market Index
Spartan International Index
Funds -
Investor Class
Fidelity Advantage Class

Annual Report

February 29, 2008

(2_fidelity_logos) (Registered_Trademark)

Contents

Chairman's Message	<Click Here>	Ned Johnson's message to shareholders
Shareholder Expense Example	<Click Here>	An example of shareholder expenses
Spartan Total Market Index Fund	<Click Here>	Performance
	<Click Here>	Management's Discussion
	<Click Here>	Investment Changes
	<Click Here>	Investments
	<Click Here>	Financial Statements
Spartan Extended Market Index Fund	<Click Here>	Performance
	<Click Here>	Management's Discussion
	<Click Here>	Investment Changes
	<Click Here>	Investments
	<Click Here>	Financial Statements
Spartan International Index Fund	<Click Here>	Performance
	<Click Here>	Management's Discussion
	<Click Here>	Investment Changes
	<Click Here>	Investments
	<Click Here>	Financial Statements
Notes	<Click Here>	Notes to the Financial Statements
Report of Independent Registered Public Accounting Firm	<Click Here>
Trustees and Officers	<Click Here>
Distributions	<Click Here>
Proxy Voting Results	<Click Here>
Prospectus	P-1

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com (search for "proxy voting guidelines") or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the funds. This report is not authorized for distribution to prospective investors in the funds unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com or http://www.advisor.fidelity.com, as applicable.

NOT FDIC INSURED · MAY LOSE VALUE · NO BANK GUARANTEE

Neither the funds nor Fidelity Distributors Corporation is a bank.

Annual Report

Chairman's Message

(Photograph of Edward C. Johnson 3d.)

Dear Shareholder:

Continuation of a credit squeeze, flat consumer spending and a potential recession weighed heavily on stocks in the opening months of 2008, though positive results in investment-grade bonds and money markets offered some comfort to investors. Financial markets are always unpredictable, but there are a number of time-tested principles that can put the historical odds in your favor.

One of the basic tenets is to invest for the long term. Over time, riding out the markets' inevitable ups and downs has proven much more effective than selling into panic or chasing the hottest trend. Even missing only a few of the markets' best days can significantly diminish investor returns. Patience also affords the benefits of compounding - of earning interest on additional income or reinvested dividends and capital gains. There are tax advantages and cost benefits to consider as well. The more you sell, the more taxes you pay, and the more you trade, the higher the costs. While staying the course doesn't eliminate risk, it can considerably lessen the effect of short-term declines.

You can further manage your investing risk through diversification. And today, more than ever, geographic diversification should be taken into account. Studies

indicate that asset allocation is the single most important determinant of a portfolio's long-term success. The right mix of stocks, bonds and cash - - aligned to your particular risk tolerance and investment objective - is very important. Age-appropriate rebalancing is also an essential aspect of asset allocation. For younger investors, an emphasis on equities - which historically have been the best-performing asset class over time - is encouraged. As investors near their specific goal, such as retirement or sending a child to college, consideration may be given to replacing volatile assets (e.g. common stocks) with more-stable fixed investments (bonds or savings plans).

A third investment principle - investing regularly - can help lower the average cost of your purchases. Investing a certain amount of money each month or quarter helps ensure you won't pay for all your shares at market highs. This strategy - known as dollar cost averaging - also reduces unconstructive "emotion" from investing, helping shareholders avoid selling weak performers just prior to an upswing, or chasing a hot performer just before a correction.

We invite you to contact us via the Internet, through our Investor Centers or over the phone. It is our privilege to provide you the information you need to make the investments that are right for you.

Sincerely,

/s/Edward C. Johnson 3d

Edward C. Johnson 3d

Annual Report

Shareholder Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including redemption fees, and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2007 to February 29, 2008).

Actual Expenses

The first line of the accompanying table for each class of each fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. An annual index fund fee of $10 that is charged once a year may apply for certain accounts with a value of less than $10,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of each fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. An annual index fund fee of $10 that is charged once a year may apply for certain accounts with a value of less than $10,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

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

	Beginning Account Value September 1, 2007	Ending Account Value February 29, 2008	Expenses Paid During Period* September 1, 2007 to February 29, 2008
Spartan Total Market Index
Investor Class
Actual	$ 1,000.00	$ 912.80	$ .48
HypotheticalA	$ 1,000.00	$ 1,024.37	$ .50
Fidelity Advantage Class
Actual	$ 1,000.00	$ 912.70	$ .33
HypotheticalA	$ 1,000.00	$ 1,024.52	$ .35
Spartan Extended Market Index
Investor Class
Actual	$ 1,000.00	$ 914.10	$ .48
HypotheticalA	$ 1,000.00	$ 1,024.37	$ .50
Fidelity Advantage Class
Actual	$ 1,000.00	$ 914.10	$ .33
HypotheticalA	$ 1,000.00	$ 1,024.52	$ .35
Spartan International Index
Investor Class
Actual	$ 1,000.00	$ 942.30	$ .48
HypotheticalA	$ 1,000.00	$ 1,024.37	$ .50
Fidelity Advantage Class
Actual	$ 1,000.00	$ 942.30	$ .34
HypotheticalA	$ 1,000.00	$ 1,024.52	$ .35

^A 5% return per year before expenses

* Expenses are equal to each Class' annualized expense ratio (shown in the table below); multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period).

Annual Report

	Annualized Expense Ratio
Spartan Total Market Index
Investor Class	.10%
Fidelity Advantage Class	.07%
Spartan Extended Market Index
Investor Class	.10%
Fidelity Advantage Class	.07%
Spartan International Index
Investor Class	.10%
Fidelity Advantage Class	.07%

Annual Report

Spartan Total Market Index Fund

Performance: The Bottom Line

Average annual total return reflects the change in the value of an investment, assuming reinvestment of the class' dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The $10,000 table and the fund's returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund's total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.

Average Annual Total Returns

Periods ended February 29, 2008	Past 1 year	Past 5 years	Past 10 years
Spartan® Total Market Index Fund - Investor Class	-4.10%	12.72%	4.46%
Spartan Total Market Index Fund - Fidelity Advantage Class A	-4.07%	12.73%	4.47%

^A The initial offering of Fidelity Advantage Class took place on October 14, 2005. Returns prior to October 14, 2005, are those of Investor Class.

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Spartan® Total Market Index Fund - Investor Class on February 28, 1998. The chart shows how the value of your investment would have changed, and also shows how the Dow Jones Wilshire 5000 Composite Index^SM performed over the same period.

Annual Report

Spartan Total Market Index Fund

Management's Discussion of Fund Performance

Comments from Jeffrey Adams, who oversees the Spartan® Total Market Index Fund's investment management team as Head of Indexing for Geode Capital Management, LLC

It was a winter of discontent for U.S. equity investors, as a credit freeze led to subzero returns for many stock market benchmarks during the 12-month period ending February 29, 2008. In addition to the subprime mortgage market crisis, which severely constrained the availability of credit, a flurry of other issues afflicted investor sentiment - particularly in the final three months of the period - including a major housing market slowdown, rising inflation, a potential recession and oil prices that topped $100 per barrel. The Federal Reserve Board aggressively intervened in an effort to ease the credit crunch, slashing the federal funds target rate five times since September. Despite the central bank's efforts, the Standard & Poor's 500^SM Index fell 3.60% for the year overall and lost nearly 10% in the December-February time frame alone. The bellwether, blue-chip Dow Jones Industrial Average^SM managed a modest increase of 2.32% over the past 12 months, but the small-cap-oriented Russell 2000® Index declined 12.44%. Elsewhere, the technology-heavy NASDAQ Composite® Index fell 5.34%.

For the year ending February 29, 2008, the fund's Investor Class and Fidelity Advantage Class shares lost 4.10% and 4.07%, respectively, which was in line with the 4.05% decline of the Dow Jones Wilshire 5000^SM Composite Index. The energy sector led the market by a wide margin. Specific outperformers included energy producers Exxon Mobil, Chevron and ConocoPhillips, as well as oilfield services company Schlumberger. The materials and consumer staples sectors also performed well. In technology, personal computer and electronics manufacturer Apple benefited from strong sales of its key products. Diversified technology company IBM rose thanks to better-than-expected earnings. Also helping was agricultural products stock Monsanto, which benefited from strong worldwide demand for food and biofuels, and Berkshire Hathaway, the well-known holding company run by famed investor Warren Buffett. In contrast, financials were the biggest laggards by far. Worries about the deteriorating housing market and subprime loans hurt many banks and diversified financial companies, including Citigroup, American International Group (AIG), Wachovia, Bank of America and Merrill Lynch. Housing market weakness also hampered government-sponsored mortgage-finance companies Fannie Mae and Freddie Mac. Consumer discretionary holdings lagged as well during the year, while in the telecommunication services sector, Sprint Nextel fell due to a variety of problems, including a substantial fourth-quarter loss.

The views expressed above reflect those of the portfolio manager only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.

Annual Report

Spartan Total Market Index Fund

Investment Changes

Top Ten Stocks as of February 29, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Exxon Mobil Corp.	3.1	2.9
General Electric Co.	2.2	2.3
Microsoft Corp.	1.5	1.4
AT&T, Inc.	1.4	1.5
Procter & Gamble Co.	1.3	1.2
Chevron Corp.	1.2	1.1
Bank of America Corp.	1.2	1.3
Johnson & Johnson	1.2	1.1
International Business Machines Corp.	1.0	1.0
Altria Group, Inc.	1.0	0.8
	15.1
Market Sectors as of February 29, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	17.0	19.4
Information Technology	14.5	15.5
Energy	12.3	10.4
Health Care	11.5	11.2
Industrials	11.3	11.2
Consumer Discretionary	9.0	10.4
Consumer Staples	8.8	7.9
Materials	3.9	3.4
Utilities	3.6	3.5
Telecommunication Services	2.8	3.3

Percentages are adjusted for the effect of futures and swaps contracts, if applicable.

Annual Report

Spartan Total Market Index Fund

Investments February 29, 2008

Showing Percentage of Net Assets

Common Stocks - 94.7%
	Shares		Value
CONSUMER DISCRETIONARY - 9.0%
Auto Components - 0.3%
Aftermarket Technology Corp. (a)	13,201		$ 247,519
American Axle & Manufacturing Holdings, Inc.	21,960		432,173
Amerigon, Inc. (a)	19,084		346,565
ArvinMeritor, Inc.	36,209		408,800
BorgWarner, Inc.	67,960		2,929,756
Cooper Tire & Rubber Co.	30,725		555,201
Dana Holding Corp. (a)	36,800		434,240
Drew Industries, Inc. (a)	13,018		350,965
Exide Technologies (a)(d)	67,099		685,752
Fuel Systems Solutions, Inc. (a)(d)	1,791		18,519
Gentex Corp.	80,492		1,297,531
Hayes Lemmerz International, Inc. (a)	23,987		76,279
Johnson Controls, Inc.	306,168		10,060,680
Lear Corp. (a)(d)	30,957		853,794
Modine Manufacturing Co.	18,795		234,562
Noble International Ltd.	15,109		164,839
Proliance International, Inc. (a)	1,414		3,931
Quantum Fuel Systems Technologies Worldwide, Inc. (a)	18,321		12,825
Sauer-Danfoss, Inc.	8,867		188,512
Spartan Motors, Inc. (d)	9,796		79,641
Standard Motor Products, Inc.	5,058		37,480
Stoneridge, Inc. (a)	3,821		41,190
Strattec Security Corp.	781		29,178
Superior Industries International, Inc. (d)	18,127		314,685
Tenneco, Inc. (a)	20,705		522,801
The Goodyear Tire & Rubber Co. (a)	118,943		3,223,355
TRW Automotive Holdings Corp. (a)	29,395		649,042
Visteon Corp. (a)	75,964		265,874
WABCO Holdings, Inc.	33,930		1,417,595
			25,883,284
Automobiles - 0.2%
Coachmen Industries, Inc.	3,894		17,250
Fleetwood Enterprises, Inc. (a)(d)	39,400		167,844
Ford Motor Co. (a)(d)	1,082,945		7,071,631
General Motors Corp. (d)	256,825		5,978,886
Harley-Davidson, Inc.	124,340		4,620,474
Monaco Coach Corp.	30,658		299,835
Thor Industries, Inc. (d)	18,266		556,748
Winnebago Industries, Inc.	26,601		533,882
			19,246,550
Distributors - 0.1%
Audiovox Corp. Class A (a)	4,180		37,620
Building Materials Holding Corp. (d)	17,924		103,601
Core-Mark Holding Co., Inc. (a)	4,000		106,280
Genuine Parts Co.	81,199		3,349,459
Handleman Co. (d)	10,146		13,291
	Shares		Value
LKQ Corp. (a) (d)	62,750		$ 1,332,810
Source Interlink Companies, Inc. (a)	5,135		8,678
			4,951,739
Diversified Consumer Services - 0.3%
Apollo Group, Inc. Class A (non-vtg.) (a)	70,275		4,313,480
Bright Horizons Family Solutions, Inc. (a)	13,407		603,047
Capella Education Co. (a)	5,000		263,550
Career Education Corp. (a)(d)	43,207		641,624
Coinstar, Inc. (a)	25,148		733,316
Corinthian Colleges, Inc. (a)	57,826		459,717
CPI Corp. (d)	2,388		39,593
DeVry, Inc.	33,317		1,463,949
H&R Block, Inc.	169,962		3,169,791
INVESTools, Inc. (a)	23,100		267,267
ITT Educational Services, Inc. (a)(d)	21,427		1,183,199
Jackson Hewitt Tax Service, Inc.	14,841		310,622
Mace Security International, Inc. (a)	1,100		1,925
Matthews International Corp. Class A	21,051		944,348
Nobel Learning Communities, Inc. (a)	1,000		13,060
Pre-Paid Legal Services, Inc. (a)	3,986		189,933
Princeton Review, Inc. (a)	17,342		143,939
Regis Corp.	25,600		641,280
Service Corp. International	139,376		1,505,261
Sotheby's Class A (ltd. vtg.)	32,312		1,089,561
Steiner Leisure Ltd. (a)	8,837		290,030
Stewart Enterprises, Inc. Class A	64,820		386,975
Strayer Education, Inc.	6,744		1,050,041
Universal Technical Institute, Inc. (a)(d)	16,430		205,375
Weight Watchers International, Inc.	17,022		800,034
			20,710,917
Hotels, Restaurants & Leisure - 1.5%
AFC Enterprises, Inc. (a)	14,058		106,138
Ambassadors Group, Inc.	12,856		230,637
Ameristar Casinos, Inc.	11,703		226,921
Bally Technologies, Inc. (a)	27,072		1,026,300
BJ's Restaurants, Inc. (a)	15,962		216,445
Bluegreen Corp. (a)(d)	13,016		110,115
Bob Evans Farms, Inc.	23,966		693,816
Boyd Gaming Corp. (d)	28,934		610,218
Brinker International, Inc.	49,637		915,306
Buca, Inc. (a)	4,631		1,899
Buffalo Wild Wings, Inc. (a)(d)	11,242		260,477
Burger King Holdings, Inc.	21,364		548,200
California Pizza Kitchen, Inc. (a)	6,669		92,966
Carnival Corp. unit	215,121		8,465,011
CBRL Group, Inc.	9,981		363,508
CEC Entertainment, Inc. (a)	25,244		677,297
Cedar Fair LP (depository unit)	26,153		604,657
Chipotle Mexican Grill, Inc. Class A (a)(d)	17,449		1,732,686
Choice Hotels International, Inc.	20,476		664,446
Churchill Downs, Inc.	8,627		392,787
CKE Restaurants, Inc.	30,748		340,688
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Hotels, Restaurants & Leisure - continued
Darden Restaurants, Inc.	71,470		$ 2,203,420
Denny's Corp. (a)	50,513		157,601
Domino's Pizza, Inc.	20,289		268,829
Dover Downs Gaming & Entertainment, Inc.	1,755		16,006
Dover Motorsports, Inc.	11,625		80,329
Empire Resorts, Inc. (a)(d)	15,456		29,676
Gaylord Entertainment Co. (a)	24,853		747,827
Great Wolf Resorts, Inc. (a)	13,290		91,302
IHOP Corp. (d)	14,923		683,175
International Game Technology	161,934		7,311,320
International Speedway Corp. Class A	19,173		763,852
Interstate Hotels & Resorts, Inc. (a)	156		775
Isle of Capri Casinos, Inc. (a)(d)	7,404		67,006
Jack in the Box, Inc. (a)	30,018		788,573
Jamba, Inc. (a)(d)	40,851		102,128
Krispy Kreme Doughnuts, Inc. (a)(d)	54,837		146,415
Landry's Restaurants, Inc. (d)	4,778		84,714
Las Vegas Sands Corp. (a)	54,381		4,529,937
Life Time Fitness, Inc. (a)(d)	18,493		537,407
Littlefield Corp. (a)	2,520		3,402
Lodgian, Inc. (a)	4,642		41,546
Lodgian, Inc. Class B warrants 11/25/09 (a)	8		0
Luby's, Inc. (a)	17,000		155,550
Marcus Corp.	23,391		372,853
Marriott International, Inc. Class A	169,565		5,782,167
McCormick & Schmick's Seafood Restaurants (a)	16,005		173,494
McDonald's Corp.	625,685		33,855,815
MGM Mirage, Inc. (a)(d)	52,043		3,205,328
Monarch Casino & Resort, Inc. (a)	5,587		92,856
Morgans Hotel Group Co. (a)(d)	24,428		374,726
MTR Gaming Group, Inc. (a)	6,687		37,715
Multimedia Games, Inc. (a)	5,149		36,043
O'Charleys, Inc.	4,598		51,911
Orient Express Hotels Ltd. Class A	21,956		1,189,357
P.F. Chang's China Bistro, Inc. (a)(d)	32,684		932,475
Panera Bread Co. Class A (a)(d)	19,435		726,286
Papa John's International, Inc. (a)	24,389		637,772
Peet's Coffee & Tea, Inc. (a)(d)	12,913		302,293
Penn National Gaming, Inc. (a)	34,737		1,591,997
Pinnacle Entertainment, Inc. (a)(d)	30,968		484,959
Premier Exhibitions, Inc. (a)(d)	1,600		7,648
Progressive Gaming International Corp. (a)(d)	38,803		99,724
Red Robin Gourmet Burgers, Inc. (a)	11,155		371,796
Riviera Holdings Corp. (a)	6,000		136,860
Royal Caribbean Cruises Ltd. (d)	70,950		2,483,960
Rubio's Restaurants, Inc. (a)	5,755		37,868
Ruby Tuesday, Inc.	26,983		191,849
Ruth's Chris Steak House, Inc. (a)(d)	25,925		181,216
	Shares		Value
Scientific Games Corp. Class A (a)(d)	29,481		$ 609,372
Shuffle Master, Inc. (a)(d)	37,346		307,731
Six Flags, Inc. (a)	72,418		142,663
Sonic Corp. (a)	34,126		727,908
SPEEDUS Corp. (a)	1,550		2,155
Speedway Motorsports, Inc.	7,046		205,743
Starbucks Corp. (a)	390,469		7,016,728
Starwood Hotels & Resorts Worldwide, Inc.	104,699		4,955,404
Texas Roadhouse, Inc. Class A (a)	37,598		349,661
The Cheesecake Factory, Inc. (a)(d)	34,919		730,156
The Steak n Shake Co. (a)	14,127		117,819
Town Sports International Holdings, Inc. (a)(d)	15,248		122,899
Triarc Companies, Inc. Class B	38,611		325,105
Trump Entertainment Resorts, Inc. (a)(d)	19,908		80,030
Vail Resorts, Inc. (a)(d)	15,616		706,624
Wendy's International, Inc.	37,038		899,283
WMS Industries, Inc. (a)(d)	21,964		833,973
Wyndham Worldwide Corp.	88,760		1,967,809
Wynn Resorts Ltd.	32,050		3,227,435
Yum! Brands, Inc.	262,243		9,034,271
			122,813,045
Household Durables - 0.6%
American Biltrite, Inc. (a)	400		2,900
American Greetings Corp. Class A	17,930		337,443
Avatar Holdings, Inc. (a)(d)	1,964		84,609
Bassett Furniture Industries, Inc.	2,149		25,229
Beazer Homes USA, Inc. (d)	17,239		122,397
Black & Decker Corp.	30,274		2,081,943
Blyth, Inc.	10,848		215,116
Brookfield Homes Corp. (d)	6,161		93,955
California Coastal Communities, Inc. (a)(d)	6,643		33,946
Cavco Industries, Inc. (a)	896		29,514
Centex Corp.	66,856		1,483,535
Champion Enterprises, Inc. (a)(d)	29,908		265,583
Cobra Electronics Corp.	1,200		5,748
Craftmade International, Inc.	2,030		19,346
CSS Industries, Inc.	7,858		274,323
D.R. Horton, Inc.	138,236		1,939,451
Dixie Group, Inc. (a)	3,463		30,509
Dominion Homes, Inc. (a)	300		183
Ethan Allen Interiors, Inc.	15,440		420,586
Flexsteel Industries, Inc.	2,030		26,755
Fortune Brands, Inc.	78,632		5,109,507
Furniture Brands International, Inc. (d)	23,101		300,313
Garmin Ltd. (d)	65,089		3,821,375
Harman International Industries, Inc.	34,012		1,401,294
Helen of Troy Ltd. (a)	16,686		263,472
Hooker Furniture Corp.	15,000		307,350
Hovnanian Enterprises, Inc. Class A (a)(d)	21,663		197,350
Icahn Enterprises LP	6,318		614,426
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Household Durables - continued
iRobot Corp. (a)(d)	17,599		$ 322,414
Jarden Corp. (a)	38,231		920,985
KB Home	41,336		989,170
Koss Corp.	1,552		30,186
La-Z-Boy, Inc. (d)	24,674		208,002
Leggett & Platt, Inc.	88,660		1,480,622
Lennar Corp. Class A	65,591		1,220,649
Lenox Group, Inc. (a)(d)	2,200		4,070
Levitt Corp. Class A	2,687		5,374
Libbey, Inc.	3,319		51,610
Lifetime Brands, Inc.	300		3,099
M.D.C. Holdings, Inc.	20,248		847,986
M/I Homes, Inc. (d)	2,766		45,611
Meritage Homes Corp. (a)(d)	34,176		517,425
Mohawk Industries, Inc. (a)(d)	24,774		1,769,111
National Presto Industries, Inc.	1,194		62,566
Newell Rubbermaid, Inc.	147,525		3,348,818
NVR, Inc. (a) (d)	2,258		1,220,855
Orleans Homebuilders, Inc. (d)	3,981		19,945
Palm Harbor Homes, Inc. (a)(d)	5,872		29,595
Pulte Homes, Inc.	109,230		1,478,974
Rockford Corp. (a)(d)	2,500		3,350
Russ Berrie & Co., Inc. (a)	3,505		45,775
Ryland Group, Inc.	19,744		558,558
Sealy Corp., Inc. (d)	21,635		197,095
Skyline Corp.	6,539		184,400
Snap-On, Inc.	26,383		1,317,039
Standard Pacific Corp. (d)	46,238		190,038
Stanley Furniture Co., Inc.	5,015		65,997
Syntax-Brillian Corp. (a)(d)	35,013		24,877
Tempur-Pedic International, Inc.	32,304		562,736
The Stanley Works	39,570		1,920,728
Toll Brothers, Inc. (a)	80,021		1,697,245
Tupperware Brands Corp.	31,899		1,163,676
Universal Electronics, Inc. (a)	4,760		108,052
WCI Communities, Inc. (a)(d)	14,085		54,791
Whirlpool Corp.	40,109		3,383,996
			45,563,578
Internet & Catalog Retail - 0.3%
1-800-FLOWERS.com, Inc. Class A (a)	28,158		226,390
Amazon.com, Inc. (a)(d)	153,594		9,902,205
Audible, Inc. (a)	1,300		14,885
Blue Nile, Inc. (a)(d)	13,187		582,338
Bluefly, Inc. (a)	2,800		1,148
dELiA*s, Inc. (a)	3,463		6,891
Drugstore.com, Inc. (a)	8,721		24,419
Expedia, Inc. (a)	116,915		2,680,861
FTD Group, Inc.	5,971		82,340
GSI Commerce, Inc. (a)	6,423		92,941
Hollywood Media Corp. (a)	1,200		3,192
IAC/InterActiveCorp (a)	98,465		1,959,454
	Shares		Value
Liberty Media Corp. - Interactive Series A (a)	324,259		$ 4,656,359
Netflix, Inc. (a)(d)	33,534		1,059,004
NutriSystem, Inc. (a)(d)	14,474		207,123
Orbitz Worldwide, Inc.	15,000		94,650
Overstock.com, Inc. (a)(d)	2,976		30,504
PC Mall, Inc. (a)	500		4,005
PetMed Express, Inc. (a)	7,165		82,039
Priceline.com, Inc. (a)(d)	16,759		1,910,861
Stamps.com, Inc. (a)	4,851		42,931
Systemax, Inc. (d)	7,631		82,644
ValueVision Media, Inc. Class A (a)(d)	21,687		114,074
			23,861,258
Leisure Equipment & Products - 0.2%
Adams Golf, Inc. (a)	100		945
Arctic Cat, Inc.	5,971		45,141
Brunswick Corp.	46,016		749,601
Callaway Golf Co.	39,789		606,384
Eastman Kodak Co. (d)	142,706		2,423,148
Hasbro, Inc.	66,162		1,704,995
JAKKS Pacific, Inc. (a)	19,673		549,860
Johnson Outdoors, Inc. Class A	2,747		50,820
Leapfrog Enterprises, Inc. Class A (a)	5,168		29,458
Marine Products Corp.	13,658		99,977
MarineMax, Inc. (a)	3,071		37,712
Mattel, Inc.	192,622		3,721,457
Meade Instruments Corp. (a)	2,600		3,978
Nautilus, Inc. (d)	6,001		25,144
Polaris Industries, Inc. (d)	17,627		672,999
Pool Corp. (d)	28,128		535,838
RC2 Corp. (a)	10,486		194,515
Smith & Wesson Holding Corp. (a)(d)	23,199		118,779
Steinway Musical Instruments, Inc.	5,374		132,792
Sturm Ruger & Co., Inc. (a)	42,290		334,091
			12,037,634
Media - 2.8%
4Kids Entertainment, Inc. (a)	12,821		151,801
A.H. Belo Corp. Class A (a)	8,701		105,891
ACME Communications, Inc.	6,009		17,666
Alloy, Inc. (a)	1,732		13,319
Arbitron, Inc.	16,342		685,057
Ballantyne of Omaha, Inc. (a)	100		493
Belo Corp. Series A	43,507		512,077
Cablevision Systems Corp. - NY Group Class A (a)	125,132		3,352,286
Carmike Cinemas, Inc.	16,306		117,892
CBS Corp. Class B	316,871		7,230,996
Charter Communications, Inc. Class A (a)(d)	192,995		185,661
Cinemark Holdings, Inc.	31,385		453,199
Citadel Broadcasting Corp.	81,876		90,064
CKX, Inc. (a)	23,871		212,929
Clear Channel Communications, Inc.	228,239		7,303,648
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Media - continued
Clear Channel Outdoor Holding, Inc. Class A (a)	26,451		$ 615,250
Comcast Corp. Class A	1,513,211		29,568,143
Cox Radio, Inc. Class A (a)	27,951		307,181
Crown Media Holdings, Inc. Class A (a)(d)	9,666		53,550
Cumulus Media, Inc. Class A (a)(d)	14,350		78,925
DG FastChannel, Inc. (a)	16,845		340,101
Discovery Holding Co. Class A (a)	149,371		3,371,303
DISH Network Corp. Class A (a)	113,582		3,367,706
Dolan Media Co.	10,000		223,100
DreamWorks Animation SKG, Inc. Class A (a)	34,899		885,737
E.W. Scripps Co. Class A	40,911		1,708,852
EMAK Worldwide, Inc. (a)	2,676		2,676
Emmis Communications Corp. Class A (a)	9,275		27,454
Entercom Communications Corp. Class A	17,572		196,279
Entertainment Distribution Co., Inc. (a)	8,598		5,073
Entravision Communication Corp. Class A (a)	53,671		311,292
Fisher Communications, Inc. (a)	3,105		97,249
Gannett Co., Inc.	110,369		3,327,625
GateHouse Media, Inc. (d)	31,868		199,812
Gemstar-TV Guide International, Inc. (a)	164,523		779,839
Getty Images, Inc. (a)	22,938		737,686
Gray Television, Inc.	8,695		50,431
Harris Interactive, Inc. (a)	6,269		16,989
Harte-Hanks, Inc.	19,946		337,287
Hearst-Argyle Television, Inc.	9,723		213,906
Idearc, Inc. (d)	83,113		400,605
Image Entertainment, Inc. (a)	700		1,498
Insignia Systems, Inc. (a)	2,664		6,367
Interactive Data Corp.	21,445		627,481
Interpublic Group of Companies, Inc. (a)	235,224		2,027,631
John Wiley & Sons, Inc. Class A	25,065		914,371
Journal Communications, Inc. Class A	22,879		157,636
Journal Register Co.	7,046		7,046
Knology, Inc. (a)(d)	33,900		414,258
Lamar Advertising Co. Class A (d)	35,541		1,354,468
Lee Enterprises, Inc. (d)	27,681		285,391
Liberty Global, Inc. Class A (a)	190,188		7,151,069
Liberty Media Corp. - Capital Series A (a)	64,578		7,498,152
LIN TV Corp. Class A (a)	41,885		430,159
Live Nation, Inc. (a)	34,464		409,088
LodgeNet Entertainment Corp. (a)	15,151		141,056
Martha Stewart Living Omnimedia, Inc. Class A (a)(d)	20,190		142,138
Marvel Entertainment, Inc. (a)	22,261		559,864
McGraw-Hill Companies, Inc.	172,497		7,060,302
Media General, Inc. Class A (d)	25,296		394,618
	Shares		Value
Mediacom Communications Corp. Class A (a)(d)	16,061		$ 70,187
Meredith Corp.	20,290		879,572
Morningstar, Inc. (a)	7,506		489,316
National CineMedia, Inc.	37,485		807,802
Navarre Corp. (a)	6,926		11,428
New Frontier Media, Inc.	5,971		30,154
News Corp. Class A	1,223,540		22,525,371
Omnicom Group, Inc.	168,704		7,536,008
Playboy Enterprises, Inc. Class B (non-vtg.) (a)	4,445		35,827
PRIMEDIA, Inc. (d)	6,332		48,883
R.H. Donnelley Corp. (a)	35,467		251,461
Radio One, Inc. Class D (non-vtg.) (a)	27,442		34,577
RCN Corp.	19,644		218,048
Regal Entertainment Group Class A	33,163		654,306
Regent Communication, Inc. (a)	7,397		6,731
Rentrak Corp. (a)	600		6,660
Saga Communications, Inc. Class A (a)	932		5,424
Salem Communications Corp. Class A	2,015		6,650
Scholastic Corp. (a)	20,042		698,865
Sinclair Broadcast Group, Inc. Class A (d)	28,926		266,987
Sirius Satellite Radio, Inc. (a) (d)	673,559		1,912,908
Spanish Broadcasting System, Inc. Class A (a)	8,120		12,180
Sun-Times Media Group, Inc. Class A (a)	20,659		18,180
The DIRECTV Group, Inc. (a)	369,438		9,254,422
The McClatchy Co. Class A (d)	23,941		229,834
The New York Times Co. Class A (d)	100,181		1,866,372
The Walt Disney Co.	935,539		30,320,819
Time Warner Cable, Inc. (a)	81,440		2,223,312
Time Warner, Inc.	1,941,441		30,305,894
TiVo, Inc. (a) (d)	56,834		493,319
Triple Crown Media, Inc. (a)	728		2,876
Valassis Communications, Inc. (a)	32,378		363,281
Viacom, Inc. Class B (non-vtg.) (a)	299,348		11,899,083
Virgin Media, Inc.	146,828		2,202,420
Warner Music Group Corp. (d)	28,685		172,110
Washington Post Co. Class B	3,006		2,176,344
Westwood One, Inc.	61,958		109,666
World Wrestling Entertainment, Inc. Class A	7,730		136,821
XM Satellite Radio Holdings, Inc. Class A (a) (d)	173,957		2,052,693
Young Broadcasting, Inc. Class A (a)	3,209		2,535
			227,578,949
Multiline Retail - 0.6%
99 Cents Only Stores (a)(d)	14,698		136,544
Big Lots, Inc. (a)	50,502		850,959
Dillard's, Inc. Class A (d)	44,543		658,791
Dollar Tree Stores, Inc. (a)	47,496		1,274,318
Family Dollar Stores, Inc.	61,021		1,168,552
Fred's, Inc. Class A	15,389		135,115
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Multiline Retail - continued
JCPenney Co., Inc.	93,592		$ 4,324,886
Kohl's Corp. (a)	145,508		6,466,376
Macy's, Inc.	227,230		5,608,036
Nordstrom, Inc.	104,952		3,886,373
Retail Ventures, Inc. (a)	12,266		82,550
Saks, Inc. (a)	70,770		1,101,181
Sears Holdings Corp. (a)(d)	43,256		4,136,139
Target Corp.	390,077		20,521,951
The Bon-Ton Stores, Inc. (d)	8,752		50,061
Tuesday Morning Corp.	10,850		58,482
			50,460,314
Specialty Retail - 1.7%
A.C. Moore Arts & Crafts, Inc. (a)	3,702		31,726
Aaron Rents, Inc.	19,496		382,512
Abercrombie & Fitch Co. Class A	43,218		3,350,692
Advance Auto Parts, Inc.	48,540		1,628,032
Aeropostale, Inc. (a)	36,478		979,799
America's Car Mart, Inc. (a)(d)	3,150		34,335
American Eagle Outfitters, Inc.	104,167		2,226,049
AnnTaylor Stores Corp. (a)	32,435		779,089
Asbury Automotive Group, Inc.	15,449		216,595
AutoNation, Inc. (a)	70,170		1,022,377
AutoZone, Inc. (a)	27,774		3,196,232
Barnes & Noble, Inc.	31,168		876,444
bebe Stores, Inc.	8,695		106,166
Bed Bath & Beyond, Inc. (a)	131,301		3,721,070
Best Buy Co., Inc.	189,838		8,164,932
Big 5 Sporting Goods Corp.	18,888		174,714
Blockbuster, Inc. Class A (a)(d)	111,889		340,143
Books-A-Million, Inc.	5,135		42,569
Borders Group, Inc.	41,722		386,346
Brown Shoe Co., Inc.	19,077		280,050
Build-A-Bear Workshop, Inc. (a)(d)	4,710		54,730
Cabela's, Inc. Class A (a)(d)	22,572		305,851
Cache, Inc. (a)	3,350		33,366
CarMax, Inc. (a)(d)	106,345		1,952,494
Casual Male Retail Group, Inc. (a)(d)	8,101		31,270
Charlotte Russe Holding, Inc. (a)	4,919		95,773
Charming Shoppes, Inc. (a)(d)	65,546		361,158
Chico's FAS, Inc. (a)	88,466		823,618
Christopher & Banks Corp.	21,140		228,312
Circuit City Stores, Inc. (d)	76,296		337,228
Citi Trends, Inc. (a)(d)	9,399		136,379
Coldwater Creek, Inc. (a)(d)	20,231		111,877
Collective Brands, Inc. (a)	25,320		399,296
Conn's, Inc. (a)(d)	7,047		89,849
Cost Plus, Inc. (a)(d)	4,090		14,315
CSK Auto Corp. (a)(d)	27,526		249,661
Dick's Sporting Goods, Inc. (a)(d)	40,030		1,104,027
Dress Barn, Inc. (a)	15,692		206,821
DSW, Inc. Class A (a)(d)	18,311		333,443
	Shares		Value
E Com Ventures, Inc. (a)	325		$ 7,514
Eddie Bauer Holdings, Inc. (a)(d)	33,562		198,351
Emerging Vision, Inc. (a)	3,800		760
Finish Line, Inc. Class A	30,445		86,159
Finlay Enterprises, Inc. (a)	2,985		2,776
Foot Locker, Inc.	82,534		1,015,168
Gamestop Corp. Class A (a)	78,502		3,325,345
Gap, Inc.	305,380		6,159,515
Genesco, Inc. (a)	12,717		380,874
Group 1 Automotive, Inc.	9,792		239,904
Guess?, Inc.	30,361		1,248,748
Gymboree Corp. (a)	15,021		594,681
Haverty Furniture Companies, Inc.	4,389		43,100
Hibbett Sports, Inc. (a)	26,443		417,799
Home Depot, Inc.	882,632		23,433,880
Hot Topic, Inc. (a)	8,301		38,102
J. Crew Group, Inc. (a)(d)	24,628		986,351
Jo-Ann Stores, Inc. (a)	16,826		277,629
Jos. A. Bank Clothiers, Inc. (a)(d)	12,318		280,604
Kirkland's, Inc. (a)	2,250		1,935
Limited Brands, Inc.	163,083		2,487,016
Lithia Motors, Inc. Class A (sub. vtg.) (d)	2,182		22,431
Lowe's Companies, Inc.	770,543		18,469,916
Midas, Inc. (a)	17,549		265,516
Monro Muffler Brake, Inc.	15,678		262,607
Mothers Work, Inc. (a)	1,194		23,952
New York & Co., Inc. (a)	22,599		131,074
NexCen Brands, Inc. (a)	8,613		33,935
O'Reilly Automotive, Inc. (a)	54,191		1,460,989
Office Depot, Inc. (a)	155,219		1,764,840
OfficeMax, Inc.	37,180		790,819
Pacific Sunwear of California, Inc. (a)	42,886		478,608
Penske Auto Group, Inc.	31,974		576,811
PetSmart, Inc.	64,767		1,394,434
Pier 1 Imports, Inc. (a)	64,537		338,174
Pomeroy IT Solutions, Inc. (a)	3,416		22,443
RadioShack Corp.	59,451		1,037,420
Rent-A-Center, Inc. (a)	35,909		615,839
Restoration Hardware, Inc. (a)	5,982		25,902
Rex Stores Corp. (a)	3,513		65,236
Ross Stores, Inc.	70,488		1,963,091
Sally Beauty Holdings, Inc. (a)	63,165		483,212
Select Comfort Corp. (a)	29,583		126,615
Sherwin-Williams Co.	52,243		2,705,143
Shoe Carnival, Inc. (a)	3,092		41,897
Sonic Automotive, Inc. Class A (sub. vtg.)	32,899		584,944
Sport Chalet:
Class A (a)	175		779
Class B (a)	25		108
Stage Stores, Inc.	23,109		292,560
Staples, Inc.	354,713		7,892,364
Stein Mart, Inc.	10,292		60,826
Talbots, Inc. (d)	11,749		96,107
The Buckle, Inc.	13,515		613,581
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Specialty Retail - continued
The Cato Corp. Class A (sub. vtg.)	24,368		$ 381,603
The Children's Place Retail Stores, Inc. (a)	8,631		184,358
The Men's Wearhouse, Inc.	22,298		513,746
The Pep Boys - Manny, Moe & Jack (d)	13,830		158,215
Tiffany & Co., Inc.	65,112		2,450,816
TJX Companies, Inc.	229,789		7,353,248
Tractor Supply Co. (a)(d)	17,878		669,352
Trans World Entertainment Corp. (a)	3,463		13,817
TravelCenters of America LLC (a)	9,983		129,480
Tween Brands, Inc. (a)(d)	17,713		524,305
Urban Outfitters, Inc. (a)	64,815		1,865,376
West Marine, Inc. (a)	3,821		30,835
Wet Seal, Inc. Class A (a)	63,290		181,009
Williams-Sonoma, Inc.	47,290		1,104,694
Wilsons Leather Experts, Inc. (a)	3,977		2,665
Zale Corp. (a)(d)	26,205		506,281
Zumiez, Inc. (a)(d)	15,094		265,353
			135,012,877
Textiles, Apparel & Luxury Goods - 0.4%
Ashworth, Inc. (a)	400		1,352
Carter's, Inc. (a)	40,282		621,551
Cherokee, Inc.	2,207		74,707
Coach, Inc. (a)	190,794		5,784,874
Columbia Sportswear Co. (d)	8,418		347,916
Crocs, Inc. (a)(d)	38,013		924,476
Deckers Outdoor Corp. (a)	6,699		741,177
Fossil, Inc. (a)	24,493		788,185
G-III Apparel Group Ltd. (a)	10,000		130,900
Hanesbrands, Inc. (a)	44,784		1,303,214
Iconix Brand Group, Inc. (a)	23,379		485,816
Jones Apparel Group, Inc.	55,726		786,294
K-Swiss, Inc. Class A	15,228		220,958
Kenneth Cole Productions, Inc. Class A (sub. vtg.)	4,067		60,476
Liz Claiborne, Inc.	51,997		924,507
Maidenform Brands, Inc. (a)	15,782		195,223
Movado Group, Inc.	10,191		196,279
NIKE, Inc. Class B	184,117		11,083,843
Oxford Industries, Inc.	10,105		213,620
Perry Ellis International, Inc. (a)	2,923		57,262
Phillips-Van Heusen Corp.	27,119		990,115
Polo Ralph Lauren Corp. Class A	33,080		2,057,245
Polymer Group, Inc.:
Class A warrants 3/4/10 (a)	6		0
Class B warrants 3/4/10 (a)	6		0
Quiksilver, Inc. (a)	56,019		504,171
Skechers U.S.A., Inc. Class A (sub. vtg.) (a)	13,559		288,671
Steven Madden Ltd. (a)	16,880		284,259
Tarrant Apparel Group (a)	2,700		2,160
Timberland Co. Class A (a)	25,130		377,453
	Shares		Value
Under Armour, Inc. Class A (sub. vtg.) (a)(d)	13,990		$ 515,112
Unifi, Inc. (a)	7,247		20,581
Unifirst Corp.	6,314		243,910
VF Corp.	47,723		3,628,857
Volcom, Inc. (a)	13,377		264,463
Warnaco Group, Inc. (a)	22,178		833,006
Wolverine World Wide, Inc.	36,170		958,505
			35,911,138
TOTAL CONSUMER DISCRETIONARY			724,031,283
CONSUMER STAPLES - 8.8%
Beverages - 2.0%
Anheuser-Busch Companies, Inc.	379,873		17,888,220
Boston Beer Co., Inc. Class A (a)	10,271		366,264
Brown-Forman Corp. Class B (non-vtg.)	36,656		2,337,553
Central European Distribution Corp. (a)	18,777		1,092,446
Coca-Cola Bottling Co. Consolidated	1,100		60,159
Coca-Cola Enterprises, Inc.	144,702		3,535,070
Constellation Brands, Inc. Class A (sub. vtg.) (a)	100,381		1,928,319
Hansen Natural Corp. (a)(d)	33,985		1,410,378
Jones Soda Co. (a)(d)	17,449		93,003
Molson Coors Brewing Co. Class B	80,094		4,321,872
National Beverage Corp.	8,950		65,514
Pepsi Bottling Group, Inc.	71,817		2,442,496
PepsiAmericas, Inc.	35,504		898,251
PepsiCo, Inc.	849,360		59,081,482
The Coca-Cola Co.	1,118,068		65,362,255
			160,883,282
Food & Staples Retailing - 2.1%
Andersons, Inc.	16,319		754,917
Arden Group, Inc. Class A	100		13,302
BJ's Wholesale Club, Inc. (a)	30,530		963,527
Casey's General Stores, Inc.	25,817		646,716
Costco Wholesale Corp.	229,501		14,210,702
CVS Caremark Corp.	772,335		31,186,887
Ingles Markets, Inc. Class A	17,056		409,515
Kroger Co.	335,145		8,127,266
Longs Drug Stores Corp.	13,376		642,449
Nash-Finch Co.	13,340		467,834
Performance Food Group Co. (a)	12,773		415,123
Pricesmart, Inc.	7,191		174,454
Rite Aid Corp. (a)(d)	341,401		911,541
Ruddick Corp.	23,792		767,292
Safeway, Inc.	226,564		6,511,449
Spartan Stores, Inc.	19,591		412,978
SUPERVALU, Inc.	105,729		2,775,386
Susser Holdings Corp. (a)	7,000		169,540
Sysco Corp.	315,827		8,862,106
The Great Atlantic & Pacific Tea Co. (a)	10,735		290,704
The Pantry, Inc. (a)	9,194		221,208
United Natural Foods, Inc. (a)	18,561		314,052
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Food & Staples Retailing - continued
Wal-Mart Stores, Inc.	1,313,067		$ 65,114,993
Walgreen Co.	522,311		19,069,575
Weis Markets, Inc.	5,971		193,520
Whole Foods Market, Inc. (d)	73,811		2,594,457
Winn-Dixie Stores, Inc. (a)	23,750		388,313
			166,609,806
Food Products - 1.4%
Alico, Inc.	200		8,170
Archer Daniels Midland Co.	304,158		13,717,526
B&G Foods, Inc. Class A	692		6,878
Bridgford Foods Corp. (a)	400		2,464
Bunge Ltd. (d)	61,164		6,779,418
Cal-Maine Foods, Inc. (d)	13,323		459,644
Campbell Soup Co.	126,446		4,082,941
Chiquita Brands International, Inc. (a)(d)	28,314		579,588
ConAgra Foods, Inc.	255,018		5,635,898
Corn Products International, Inc.	36,817		1,351,552
Darling International, Inc. (a)	56,190		781,041
Dean Foods Co.	67,033		1,442,550
Del Monte Foods Co.	110,096		988,662
Diamond Foods, Inc.	8,240		135,136
Farmer Brothers Co.	3,606		80,522
Flowers Foods, Inc.	44,109		999,510
Fresh Del Monte Produce, Inc. (a)	18,952		629,396
General Mills, Inc.	172,236		9,643,494
Green Mountain Coffee Roasters, Inc. (a)	6,807		207,682
H.J. Heinz Co.	151,767		6,694,442
Hain Celestial Group, Inc. (a)	27,071		730,917
Hershey Co.	78,469		2,909,631
Hormel Foods Corp.	35,976		1,469,979
J&J Snack Foods Corp.	8,901		219,410
John B. Sanfilippo & Son, Inc. (a)	2,965		27,663
Kellogg Co.	128,804		6,532,939
Kraft Foods, Inc. Class A	815,945		25,433,006
Lancaster Colony Corp.	10,046		373,008
Lance, Inc.	22,781		381,582
Maui Land & Pineapple, Inc. (a)	300		7,848
McCormick & Co., Inc. (non-vtg.)	56,247		1,937,709
Omega Protein Corp. (a)	7,368		78,101
Pilgrims Pride Corp. Class B	21,585		506,384
Ralcorp Holdings, Inc. (a)	11,122		616,715
Reddy Ice Holdings, Inc.	29,155		687,183
Sanderson Farms, Inc. (d)	9,009		314,054
Sara Lee Corp.	372,253		4,701,555
Seaboard Corp.	119		189,210
Seneca Foods Group Class A (a)	2,582		51,743
Smithfield Foods, Inc. (a)	59,644		1,643,192
Tasty Baking Co.	200		1,370
The J.M. Smucker Co.	27,882		1,427,280
Tootsie Roll Industries, Inc. (d)	11,981		290,300
TreeHouse Foods, Inc. (a)	17,645		391,190
	Shares		Value
Tyson Foods, Inc. Class A	152,436		$ 2,196,603
Wm. Wrigley Jr. Co.	117,754		7,048,754
Zapata Corp. (a)	880		6,204
			114,400,044
Household Products - 1.9%
Central Garden & Pet Co. Class A (non-vtg.) (a)	38,581		169,756
Church & Dwight Co., Inc.	30,512		1,631,172
Clorox Co.	71,050		4,134,400
Colgate-Palmolive Co.	272,798		20,757,200
Energizer Holdings, Inc. (a)	27,654		2,567,121
Kimberly-Clark Corp.	219,491		14,306,423
Oil-Dri Corp. of America	750		14,513
Procter & Gamble Co.	1,636,875		108,328,388
Spectrum Brands, Inc. (a)(d)	7,046		26,493
WD-40 Co.	17,261		536,472
			152,471,938
Personal Products - 0.2%
Alberto-Culver Co.	43,673		1,170,436
Avon Products, Inc.	221,378		8,425,647
Bare Escentuals, Inc. (a)(d)	32,335		885,332
Chattem, Inc. (a)(d)	10,426		812,185
Elizabeth Arden, Inc. (a)	20,607		375,460
Estee Lauder Companies, Inc. Class A	52,658		2,242,178
Herbalife Ltd.	22,497		941,050
Inter Parfums, Inc.	5,138		83,441
Mannatech, Inc. (d)	6,969		54,219
NBTY, Inc. (a)	25,612		731,479
Nu Skin Enterprises, Inc. Class A	31,094		514,917
Prestige Brands Holdings, Inc. (a)	29,135		224,631
Revlon, Inc. Class A (sub. vtg.) (a)	120,573		122,984
USANA Health Sciences, Inc. (a)(d)	2,496		77,825
			16,661,784
Tobacco - 1.2%
Alliance One International, Inc. (a)	62,572		306,603
Altria Group, Inc.	1,099,115		80,389,271
Loews Corp. - Carolina Group	58,102		4,374,500
Reynolds American, Inc.	87,354		5,566,197
Star Scientific, Inc. (a)	17,410		32,383
Universal Corp.	12,506		711,716
UST, Inc.	81,538		4,426,698
Vector Group Ltd. (d)	10,991		202,015
			96,009,383
TOTAL CONSUMER STAPLES			707,036,237
ENERGY - 12.3%
Energy Equipment & Services - 2.6%
Allis-Chalmers Energy, Inc. (a)(d)	22,325		281,742
Atwood Oceanics, Inc. (a)	12,937		1,204,305
Baker Hughes, Inc.	169,044		11,374,971
Basic Energy Services, Inc. (a)(d)	25,150		532,174
BJ Services Co.	140,704		3,649,862
Common Stocks - continued
	Shares		Value
ENERGY - continued
Energy Equipment & Services - continued
Bristow Group, Inc. (a)	13,502		$ 712,366
Bronco Drilling Co., Inc. (a)(d)	23,244		367,488
Cal Dive International, Inc. (a)	8,554		89,133
Cameron International Corp. (a)	117,230		4,979,930
Carbo Ceramics, Inc. (d)	11,939		441,027
Complete Production Services, Inc. (a)	25,671		498,531
Dawson Geophysical Co. (a)	5,936		391,004
Diamond Offshore Drilling, Inc.	33,234		4,015,664
Dresser-Rand Group, Inc. (a)	41,484		1,413,360
Dril-Quip, Inc. (a)	15,639		731,592
ENSCO International, Inc.	73,294		4,385,913
Exterran Holdings, Inc. (a)	34,960		2,434,964
Exterran Partners LP	3,000		98,370
FMC Technologies, Inc. (a)	68,237		3,866,308
Global Industries Ltd. (a)	39,042		718,763
Grant Prideco, Inc. (a)	65,230		3,292,158
Grey Wolf, Inc. (a)	77,719		481,858
Gulf Island Fabrication, Inc.	12,498		364,567
Gulfmark Offshore, Inc. (a)	8,930		452,394
Halliburton Co.	458,469		17,559,363
Helix Energy Solutions Group, Inc. (a)	37,659		1,326,350
Helmerich & Payne, Inc.	42,823		1,919,755
Hercules Offshore, Inc. (a)(d)	40,986		1,038,585
Hornbeck Offshore Services, Inc. (a)(d)	14,462		649,778
ION Geophysical Corp. (a)	40,726		541,249
Key Energy Services, Inc. (a)	65,200		880,852
Lufkin Industries, Inc.	8,637		493,691
Matrix Service Co. (a)	13,631		277,255
Mitcham Industries, Inc. (a)	1,791		31,611
Nabors Industries Ltd. (a)(d)	137,423		4,332,947
NATCO Group, Inc. Class A (a)	17,884		852,173
National Oilwell Varco, Inc. (a)	182,935		11,396,851
Natural Gas Services Group, Inc. (a)	22,504		504,090
Newpark Resources, Inc. (a)	31,959		141,578
Noble Corp.	136,761		6,721,803
Oceaneering International, Inc. (a)	28,059		1,683,540
Oil States International, Inc. (a)	28,576		1,204,764
OYO Geospace Corp. (a)	1,552		74,713
Parker Drilling Co. (a)	58,520		387,988
Patterson-UTI Energy, Inc.	71,949		1,707,350
PHI, Inc. (non-vtg.) (a)	17,859		540,413
Pioneer Drilling Co. (a)	45,844		614,768
Pride International, Inc. (a)	86,625		3,069,990
Rowan Companies, Inc.	51,774		2,087,010
RPC, Inc. (d)	19,909		262,202
Schlumberger Ltd. (NY Shares)	625,993		54,117,095
SEACOR Holdings, Inc. (a)	24,139		2,317,103
Smith International, Inc.	102,354		6,451,373
Superior Energy Services, Inc. (a)	38,763		1,577,266
Superior Well Services, Inc. (a)	13,630		352,336
T-3 Energy Services, Inc. (a)	9,010		444,824
	Shares		Value
TETRA Technologies, Inc. (a)	38,187		$ 656,053
Tidewater, Inc.	25,568		1,435,643
Transocean, Inc. (a)	160,763		22,588,809
Trico Marine Services, Inc. (a)(d)	3,463		136,858
Union Drilling, Inc. (a)	1,488		29,790
Unit Corp. (a)	21,322		1,175,908
W-H Energy Services, Inc. (a)	12,425		781,160
Weatherford International Ltd. (a)	178,931		12,331,925
			211,475,256
Oil, Gas & Consumable Fuels - 9.7%
Alliance Resource Partners LP	12,763		483,973
Alon USA Energy, Inc.	10,971		172,135
Alpha Natural Resources, Inc. (a)	34,417		1,395,265
Anadarko Petroleum Corp.	242,336		15,446,497
Apache Corp.	169,024		19,388,743
Arch Coal, Inc.	77,497		3,959,322
Arena Resources, Inc. (a)	21,322		863,115
Arlington Tankers Ltd. (d)	16,838		338,444
Atlas America, Inc.	20,443		1,236,188
Atlas Pipeline Partners, LP	19,837		878,779
ATP Oil & Gas Corp. (a)	14,183		499,951
Aventine Renewable Energy Holdings, Inc. (a) (d)	13,661		87,840
Berry Petroleum Co. Class A	19,208		789,641
Bill Barrett Corp. (a)(d)	17,460		809,096
Boardwalk Pipeline Partners, LP	9,553		226,597
Bois d'Arc Energy LLC (a)	32,235		692,085
BP Prudhoe Bay Royalty Trust (d)	5,544		478,724
BPZ Energy, Inc. (a)	33,632		530,377
Brigham Exploration Co. (a)	22,535		175,998
Buckeye GP Holdings LP	7,000		196,350
Buckeye Partners LP	27,437		1,346,608
Cabot Oil & Gas Corp.	63,279		3,148,130
Callon Petroleum Co. (a)	25,119		463,194
Calumet Specialty Products Partners LP	7,489		225,943
Carrizo Oil & Gas, Inc. (a)	19,490		1,125,548
Cheniere Energy, Inc. (a)(d)	23,057		676,262
Chesapeake Energy Corp.	225,062		10,177,304
Chevron Corp.	1,116,449		96,751,470
Cimarex Energy Co.	36,839		1,941,415
Clayton Williams Energy, Inc. (a)	2,603		98,524
Clean Energy Fuels Corp. (d)	25,224		385,423
CNX Gas Corp. (a)(d)	21,396		783,522
Comstock Resources, Inc. (a)	34,313		1,245,562
Concho Resources, Inc.	26,479		616,961
ConocoPhillips	774,636		64,070,144
CONSOL Energy, Inc.	93,854		7,131,027
Contango Oil & Gas Co. (a)	9,837		632,519
Continental Resources, Inc.	25,537		717,079
Copano Energy LLC	22,780		830,331
Cross Timbers Royalty Trust	5,687		267,403
Crosstex Energy LP	5,971		188,743
Crosstex Energy, Inc. (d)	29,878		1,068,139
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
CVR Energy, Inc. (d)	11,100		$ 311,910
DCP Midstream Partners LP	8,072		292,691
Delek US Holdings, Inc.	38,177		602,433
Delta Petroleum Corp. (a)(d)	39,234		940,047
Denbury Resources, Inc. (a)	130,839		4,172,456
Devon Energy Corp.	217,607		22,352,591
Dorchester Minerals LP	5,580		118,742
Double Hull Tankers, Inc. (d)	24,991		281,149
Duncan Energy Partners L.P.	9,000		189,990
Edge Petroleum Corp. (a)	12,945		62,136
El Paso Corp.	372,242		6,067,545
Enbridge Energy Management LLC	2,737		143,145
Enbridge Energy Partners LP	31,028		1,550,779
Encore Acquisition Co. (a)	23,459		863,291
Energy Partners Ltd. (a)	16,402		176,486
Energy Transfer Equity LP	58,519		1,946,342
Energy Transfer Partners LP	40,753		1,952,884
Enterprise Products Partners LP	149,065		4,616,543
EOG Resources, Inc.	126,612		15,065,562
Evergreen Energy, Inc. (a)(d)	25,886		55,655
EXCO Resources, Inc. (a)(d)	46,496		806,706
Exxon Mobil Corp.	2,850,749		248,043,596
Forest Oil Corp. (a)	34,530		1,703,365
Foundation Coal Holdings, Inc.	24,547		1,418,080
Frontier Oil Corp.	56,246		2,008,545
FX Energy, Inc. (a)	15,412		72,282
Gasco Energy, Inc. (a)	11,942		31,049
General Maritime Corp. (d)	12,896		303,572
Genesis Energy LP	15,445		332,068
GMX Resources, Inc. (a)(d)	8,349		242,038
Goodrich Petroleum Corp. (a)	16,672		402,295
Gulfport Energy Corp. (a)	10,000		144,400
Harvest Natural Resources, Inc. (a)	18,697		229,225
Hess Corp.	147,098		13,706,592
HKN, Inc. (a)	68		591
Holly Corp.	24,445		1,305,119
Holly Energy Partners LP	2,500		102,700
Hugoton Royalty Trust	25,923		732,325
Inergy LP	24,477		714,973
International Coal Group, Inc. (a)(d)	93,832		583,635
James River Coal Co. (a)(d)	7,854		132,968
K-Sea Transn Partners LP	6,393		230,979
Kinder Morgan Energy Partners LP	78,583		4,515,379
Kinder Morgan Management LLC	32,049		1,746,991
Legacy Reserves LP	9,781		208,335
Linn Energy LLC (d)	45,001		1,026,023
Magellan Midstream Holdings LP	16,165		415,764
Magellan Midstream Partners LP	34,102		1,476,958
Marathon Oil Corp.	371,027		19,723,795
Mariner Energy, Inc. (a)	35,558		986,023
Markwest Energy Partners LP	22,804		786,738
	Shares		Value
Massey Energy Co.	39,879		$ 1,525,771
McMoRan Exploration Co. (a)(d)	30,549		513,223
Meridian Resource Corp. (a)	10,597		16,425
Murphy Oil Corp.	91,251		7,334,755
National Energy Group, Inc.	71		278
Natural Resource Partners LP	12,742		408,763
Newfield Exploration Co. (a)	68,016		3,766,726
Noble Energy, Inc.	85,041		6,582,173
NuStar Energy LP	18,379		981,622
NuStar GP Holdings LLC	20,516		556,804
Occidental Petroleum Corp.	438,011		33,888,911
ONEOK Partners LP	26,974		1,673,197
Overseas Shipholding Group, Inc.	12,480		782,746
Pacific Ethanol, Inc. (a)(d)	13,826		68,577
Parallel Petroleum Corp. (a)	33,729		623,312
Patriot Coal Corp. (a)(d)	13,075		702,128
Peabody Energy Corp.	137,582		7,789,893
Penn Virginia Corp.	23,690		1,008,246
Penn Virginia GP Holdings, L.P.	4,000		106,280
Penn Virginia Resource Partners LP	14,674		392,383
Petrohawk Energy Corp. (a)	95,428		1,725,338
Petroleum Development Corp. (a)	12,746		889,161
Petroquest Energy, Inc. (a)	31,286		493,067
Pioneer Natural Resources Co.	58,645		2,626,710
Plains Exploration & Production Co. (a)	63,969		3,454,326
Quest Energy Partners LP	10,000		154,900
Quicksilver Resources, Inc. (a)	61,354		2,110,578
Range Resources Corp.	76,966		4,708,780
Regency Energy Partners LP	12,271		363,958
Rentech, Inc. (a)	48,574		61,203
Rosetta Resources, Inc. (a)	40,250		823,515
SandRidge Energy, Inc. (d)	14,100		530,724
Semgroup Energy Partners LP	4,000		99,720
Ship Finance International Ltd. (NY Shares) (d)	34,139		882,152
Southwestern Energy Co. (a)	84,993		5,544,093
Spectra Energy Corp.	325,846		7,530,301
St. Mary Land & Exploration Co.	31,967		1,178,943
Stone Energy Corp. (a)	20,254		1,028,093
Sunoco Logistics Partners LP	11,551		617,979
Sunoco, Inc.	62,984		3,847,063
Swift Energy Co. (a)	11,472		547,559
Syntroleum Corp. (a)	28,735		20,115
Targa Resources Partners LP	11,000		266,640
TC Pipelines LP	7,861		268,610
Teekay Corp. (d)	16,983		729,929
Teekay LNG Partners LP	13,391		402,400
Teekay Offshore Partners LP	7,000		177,310
TEPPCO Partners LP	33,246		1,255,369
Tesoro Corp.	67,143		2,493,691
Toreador Resources Corp. (a)(d)	11,881		111,444
Transmeridian Exploration, Inc. (a)(d)	45,772		57,215
Transmontaigne Partners LP	5,000		147,850
TXCO Resources, Inc. (a)(d)	40,650		565,848
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Ultra Petroleum Corp. (a)	81,792		$ 6,418,218
Uranium Resources, Inc. (a)	35,013		331,923
US BioEnergy Corp. (a)	36,772		269,539
USEC, Inc. (a)(d)	51,272		327,115
Vaalco Energy, Inc. (a)	31,178		139,054
Valero Energy Corp.	289,280		16,711,706
Venoco, Inc. (a)	12,178		159,045
VeraSun Energy Corp. (a)(d)	29,521		266,870
Verenium Corp. (a)(d)	7,284		21,779
W&T Offshore, Inc.	8,259		293,029
Warren Resources, Inc. (a)	39,635		530,316
Western Refining, Inc. (d)	33,616		669,631
Westmoreland Coal Co. (a)	6,000		95,880
Whiting Petroleum Corp. (a)	24,054		1,472,586
Williams Companies, Inc.	316,776		11,410,272
Williams Partners LP	20,371		756,375
World Fuel Services Corp.	17,378		543,584
XTO Energy, Inc.	248,083		15,309,202
			778,598,778
TOTAL ENERGY			990,074,034
FINANCIALS - 17.0%
Capital Markets - 2.7%
Affiliated Managers Group, Inc. (a)(d)	14,357		1,383,297
AllianceBernstein Holding LP	13,073		811,180
Ameriprise Financial, Inc.	122,324		6,194,487
Bank of New York Mellon Corp.	598,823		26,270,365
Bear Stearns Companies, Inc.	58,739		4,690,897
BlackRock, Inc. Class A	11,190		2,162,468
Calamos Asset Management, Inc. Class A	10,806		198,722
Charles Schwab Corp.	510,799		10,016,768
Cohen & Steers, Inc. (d)	20,212		508,938
E*TRADE Financial Corp. (a)(d)	204,624		873,744
Eaton Vance Corp. (non-vtg.)	59,826		1,905,458
FBR Capital Markets Corp. (d)	20,000		139,800
FCStone Group, Inc.	11,523		537,433
Federated Investors, Inc. Class B (non-vtg.)	50,127		2,034,154
Fortress Investment Group LLC (d)	15,000		210,000
Franklin Resources, Inc.	85,675		8,085,150
GAMCO Investors, Inc. Class A	7,076		396,398
GFI Group, Inc. (a)	7,798		596,937
GLG Partners, Inc. (a)j(d)	122,500		1,593,725
Goldman Sachs Group, Inc.	188,488		31,973,219
Greenhill & Co., Inc.	5,719		371,792
HFF, Inc.	4,989		36,519
Invesco Ltd.	212,000		5,429,320
Investment Technology Group, Inc. (a)	19,782		921,446
Janus Capital Group, Inc.	85,353		2,067,250
	Shares		Value
Jefferies Group, Inc.	48,254		$ 856,509
JMP Group, Inc.	3,457		24,234
KBW, Inc. (a)(d)	13,800		296,286
Knight Capital Group, Inc. Class A (a)	70,244		1,126,011
LaBranche & Co., Inc. (a)(d)	10,716		49,722
Ladenburg Thalmann Financial Services, Inc. (a)(d)	1,908		3,358
Lazard Ltd. Class A	26,955		1,029,411
Legg Mason, Inc.	70,450		4,652,518
Lehman Brothers Holdings, Inc.	277,188		14,133,816
Merrill Lynch & Co., Inc.	420,520		20,840,971
MF Global Ltd.	44,000		772,200
Morgan Stanley	500,331		21,073,942
National Holdings Corp. (a)	1,200		2,592
Northern Trust Corp.	103,219		6,980,701
Och-Ziff Capital Management Group LLC Class A (d)	18,000		416,520
optionsXpress Holdings, Inc.	21,028		487,008
Paulson Capital Corp. (a)	3,105		15,463
Penson Worldwide, Inc. (a)	12,876		131,593
Piper Jaffray Companies (a)	12,762		494,272
Raymond James Financial, Inc.	54,754		1,230,322
Riskmetrics Group, Inc.	7,000		151,200
Sanders Morris Harris Group, Inc. (d)	28,032		250,326
SEI Investments Co.	76,222		1,906,312
Siebert Financial Corp.	2,700		8,883
State Street Corp.	200,984		15,787,293
Stifel Financial Corp. (a)	8,008		349,069
SWS Group, Inc.	20,138		229,372
T. Rowe Price Group, Inc.	140,114		7,079,960
TD Ameritrade Holding Corp. (a)	118,951		2,176,803
The Blackstone Group LP	74,868		1,235,322
Thomas Weisel Partners Group, Inc. (a)	30,673		269,922
TradeStation Group, Inc. (a)	25,693		246,653
U.S. Global Investments, Inc. Class A (d)	8,884		149,695
W.P. Carey & Co. LLC	12,742		414,242
W.P. Stewart & Co. Ltd. (d)	20,900		41,800
Waddell & Reed Financial, Inc. Class A	38,895		1,218,969
Westwood Holdings Group, Inc.	1,501		53,225
			215,595,962
Commercial Banks - 3.0%
1st Source Corp.	5,265		91,927
Abigail Adams National Bancorp, Inc.	302		3,132
Amcore Financial, Inc.	14,538		282,328
AmericanWest Bancorp	9,499		83,876
Ameris Bancorp	7,595		108,001
Arrow Financial Corp.	1,861		38,746
Associated Banc-Corp.	54,795		1,365,491
BancFirst Corp.	5,958		251,011
BancorpSouth, Inc.	37,015		832,097
BancTrust Financial Group, Inc.	4,882		53,653
Bank of Granite Corp.	15,998		191,016
Bank of Hawaii Corp.	21,167		1,016,439
Bank of the Ozarks, Inc.	12,537		296,500
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Banner Corp. (d)	11,743		$ 254,353
Bar Harbor Bankshares	3,125		96,719
BB&T Corp.	284,242		8,848,453
BOK Financial Corp.	12,475		645,207
Boston Private Financial Holdings, Inc.	21,815		300,393
Bryn Mawr Bank Corp.	2,149		42,120
Capital City Bank Group, Inc. (d)	6,535		175,857
Capital Corp. of the West	10,237		140,759
Capitol Bancorp Ltd. (d)	7,732		143,970
Cascade Bancorp (d)	17,960		182,474
Cathay General Bancorp (d)	24,511		537,281
Centennial Bank Holdings, Inc., Delaware (a)	16,227		96,226
Center Bancorp, Inc.	5,075		56,586
Central Pacific Financial Corp.	18,053		333,800
Chemical Financial Corp.	10,223		227,155
Citizens & Northern Corp.	10,210		204,302
Citizens Banking Corp., Michigan	60,213		670,171
City Bank Lynnwood, Washington	15,020		276,969
City Holding Co.	15,865		590,813
City National Corp.	16,441		842,601
CoBiz, Inc.	13,382		164,465
Colonial Bancgroup, Inc. (d)	71,540		864,203
Columbia Banking Systems, Inc.	14,593		336,952
Comerica, Inc.	83,364		3,021,111
Commerce Bancorp, Inc.	105,007		3,967,164
Commerce Bancshares, Inc.	33,910		1,412,352
Community Bancorp (a)	13,777		169,457
Community Bank System, Inc.	22,618		499,858
Community Capital Corp.	483		7,462
Community Trust Bancorp, Inc.	9,412		254,595
Cullen/Frost Bankers, Inc.	25,553		1,306,269
CVB Financial Corp. (d)	51,544		473,689
East West Bancorp, Inc.	31,051		584,069
Eastern Virgina Bankshares, Inc.	955		16,684
Enterprise Financial Services Corp. (d)	4,000		80,040
Fidelity Southern Corp.	3,463		27,531
Fifth Third Bancorp	258,496		5,919,558
Financial Institutions, Inc.	2,005		37,113
First Bancorp, North Carolina	10,694		189,391
First Bancorp, Puerto Rico	55,810		504,522
First Charter Corp.	23,118		559,687
First Citizen Bancshares, Inc.	2,945		418,750
First Commonwealth Financial Corp. (d)	41,201		435,907
First Community Bancorp, California	14,888		424,308
First Community Bancshares, Inc.	8,000		253,200
First Financial Bancorp, Ohio	31,451		364,517
First Financial Bankshares, Inc.	14,300		541,541
First Financial Corp., Indiana	8,925		234,281
First Horizon National Corp.	59,888		972,581
First M&F Corp.	2,524		38,390
	Shares		Value
First Merchants Corp.	18,116		$ 489,313
First Midwest Bancorp, Inc., Delaware	27,797		724,112
First Regional Bancorp (a)	6,000		96,060
First State Bancorp.	16,034		190,484
First United Corp.	3,511		68,113
FirstMerit Corp.	38,708		726,549
FNB Corp., North Carolina	2,866		33,246
FNB Corp., Pennsylvania (d)	42,345		580,550
Frontier Financial Corp., Washington (d)	26,384		395,232
Fulton Financial Corp.	93,295		1,085,021
Glacier Bancorp, Inc. (d)	33,042		567,992
Great Southern Bancorp, Inc. (d)	7,927		142,290
Greater Community Bancorp	3,644		55,790
Green Bankshares, Inc.	8,000		145,760
Hancock Holding Co.	12,283		454,962
Hanmi Financial Corp.	31,850		243,016
Harleysville National Corp., Pennsylvania	11,970		159,081
Hawthorn Bancshares, Inc.	1,433		39,049
Heartland Financial USA, Inc.	8,001		142,258
Heritage Commerce Corp.	7,114		117,239
Heritage Financial Corp., Washington	1,630		31,932
HF Financial Corp.	3,182		52,662
Horizon Financial Corp.	11,055		141,504
Huntington Bancshares, Inc.	205,448		2,510,575
IBERIABANK Corp.	8,696		386,711
Independent Bank Corp., Massachusetts	6,511		172,346
Independent Bank Corp., Michigan	13,306		129,867
Integra Bank Corp.	11,329		160,985
International Bancshares Corp.	32,525		705,142
Intervest Bancshares Corp. Class A	7,165		95,295
Irwin Financial Corp.	12,090		90,796
KeyCorp	195,694		4,315,053
Lakeland Financial Corp.	8,000		163,200
Leesport Financial Corp.	1,594		28,294
M&T Bank Corp.	36,921		3,030,476
Macatawa Bank Corp. (d)	13,284		122,478
MainSource Financial Group, Inc.	8,776		115,053
Marshall & Ilsley Corp.	124,932		2,898,422
MB Financial, Inc.	22,139		636,939
MBT Financial Corp.	1,800		15,210
Merchants Bancshares, Inc.	4,149		95,676
Midsouth Bancorp, Inc.	4,009		88,599
Midwest Banc Holdings, Inc.	4,350		44,675
Nara Bancorp, Inc.	20,658		226,412
National City Corp.	301,644		4,784,074
National Penn Bancshares, Inc.	34,078		545,589
NBT Bancorp, Inc.	22,155		424,711
NewBridge Bancorp	8,389		80,870
North Valley Bancorp	4,941		63,788
Northern States Financial Corp.	1,314		27,725
Northrim Bancorp, Inc.	3,414		73,538
Northway Financial, Inc.	956		16,348
Old National Bancorp, Indiana	41,675		646,796
Old Second Bancorp, Inc.	7,309		188,280
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Omega Financial Corp.	6,519		$ 179,338
Oriental Financial Group, Inc.	23,277		484,627
Pacific Capital Bancorp (d)	28,849		604,387
Pacific Premier Bancorp, Inc. (a)	40		326
Park National Corp. (d)	8,529		516,005
Peoples Bancorp, Inc.	1,660		36,055
Peoples Financial Corp., Mississippi	3,102		75,224
Pinnacle Financial Partners, Inc. (a)(d)	3,325		76,276
PNC Financial Services Group, Inc.	174,915		10,745,028
Popular, Inc.	161,476		1,782,695
Preferred Bank, Los Angeles California	6,582		120,582
Princeton National Bancorp, Inc.	2,956		80,403
PrivateBancorp, Inc. (d)	13,207		397,399
Prosperity Bancshares, Inc.	24,030		634,392
Provident Bankshares Corp.	24,425		310,930
Regions Financial Corp.	367,414		7,789,177
Renasant Corp.	18,028		379,670
Republic Bancorp, Inc., Kentucky Class A	4,663		76,287
Royal Bancshares of Pennsylvania, Inc. Class A	3,140		41,919
Royal Bank of Canada	3,172		159,204
S&T Bancorp, Inc. (d)	15,636		443,281
S.Y. Bancorp, Inc.	7,621		167,433
Sandy Spring Bancorp, Inc.	12,869		350,165
SCBT Financial Corp.	5,000		149,550
Seacoast Banking Corp., Florida (d)	5,254		52,540
Security Bank Corp., Georgia (d)	10,509		71,251
Shore Bancshares, Inc.	3,440		72,378
Signature Bank, New York (a)	17,674		468,361
Simmons First National Corp. Class A	5,974		152,636
South Financial Group, Inc.	36,095		520,851
Southside Bancshares, Inc.	3,150		65,426
Southwest Bancorp, Inc., Oklahoma	11,359		183,902
State Bancorp, Inc., New York	4,423		57,366
StellarOne Corp.	9,915		171,530
Sterling Bancorp, New York	3,289		46,309
Sterling Bancshares, Inc.	46,876		436,416
Sterling Financial Corp., Pennsylvania	11,903		199,137
Sterling Financial Corp., Washington	32,433		482,927
Suffolk Bancorp	9,724		290,456
Sun Bancorp, Inc., New Jersey	3,616		46,140
SunTrust Banks, Inc.	179,856		10,455,029
Superior Bancorp (a)	14,284		74,562
Susquehanna Bancshares, Inc., Pennsylvania	59,662		1,186,677
SVB Financial Group (a)	21,316		965,615
Synovus Financial Corp. (d)	131,230		1,513,082
Taylor Capital Group, Inc.	7,332		119,512
TCF Financial Corp.	72,689		1,352,742
Temecula Valley Bancorp, Inc.	10,000		102,000
Texas Capital Bancshares, Inc. (a)	13,293		198,863
	Shares		Value
TIB Financial Corp.	2,149		$ 14,957
Tompkins Financial Corp.	1,441		63,476
Trico Bancshares	14,031		236,703
Trustmark Corp.	29,635		585,588
U.S. Bancorp, Delaware	900,216		28,824,916
UCBH Holdings, Inc. (d)	46,200		521,598
UMB Financial Corp.	13,102		501,545
Umpqua Holdings Corp. (d)	26,982		382,335
Union Bankshares Corp.	7,261		126,995
UnionBanCal Corp.	26,227		1,221,391
United Bankshares, Inc., West Virginia	24,558		645,139
United Community Banks, Inc., Georgia	23,300		331,792
Valley National Bancorp	54,112		1,010,812
Vineyard National Bancorp (d)	16,431		148,043
Virginia Commerce Bancorp, Inc. (d)	25,643		258,481
W Holding Co., Inc. (d)	63,508		83,195
Wachovia Corp.	1,028,206		31,483,668
Washington Banking Co., Oak Harbor	6,532		95,498
Washington Trust Bancorp, Inc.	6,654		153,840
Webster Financial Corp.	28,575		799,243
Wells Fargo & Co.	1,669,939		48,812,317
WesBanco, Inc.	21,326		496,683
West Coast Bancorp, Oregon	16,191		242,865
Westamerica Bancorp. (d)	19,075		902,820
Western Alliance Bancorp. (a)(d)	15,894		190,410
Whitney Holding Corp.	30,091		722,485
Wilmington Trust Corp., Delaware	32,415		998,382
Wilshire Bancorp, Inc.	14,330		101,456
Wintrust Financial Corp.	15,593		526,264
Zions Bancorp (d)	51,875		2,477,031
			240,772,200
Consumer Finance - 0.5%
Advance America Cash Advance Centers, Inc.	28,794		213,939
Advanta Corp. Class B	19,860		153,319
American Express Co.	547,349		23,152,863
AmeriCredit Corp. (a)(d)	53,036		762,658
Capital One Financial Corp.	213,149		9,811,248
Cash America International, Inc.	13,211		427,508
CompuCredit Corp. (a)(d)	12,844		133,321
Consumer Portfolio Services, Inc. (a)	2,866		8,999
Discover Financial Services	241,644		3,646,408
Dollar Financial Corp. (a)	10,747		241,485
EZCORP, Inc. (non-vtg.) Class A (a)	30,891		362,351
First Cash Financial Services, Inc. (a)	11,672		109,133
First Marblehead Corp. (d)	26,295		316,329
Nelnet, Inc. Class A	5,839		63,645
Rewards Network, Inc. (a)	2,818		12,963
SLM Corp.	279,472		5,480,446
Student Loan Corp.	1,260		139,230
United Panam Financial Corp. (a)	2,785		10,862
World Acceptance Corp. (a)(d)	15,763		478,880
			45,525,587
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Diversified Financial Services - 3.4%
Asset Acceptance Capital Corp.	7,523		$ 73,349
Asta Funding, Inc. (d)	5,197		84,087
Bank of America Corp.	2,354,014		93,548,516
Broadpoint Securities Group, Inc. (a)	1,530		2,448
CIT Group, Inc.	98,017		2,177,938
Citigroup, Inc.	2,692,020		63,827,794
CME Group, Inc.	27,660		14,197,878
Encore Capital Group, Inc. (a)(d)	11,268		83,158
Financial Federal Corp.	19,924		429,362
Interactive Brokers Group, Inc. (d)	16,000		497,120
IntercontinentalExchange, Inc. (a)	35,618		4,641,025
JPMorgan Chase & Co.	1,768,654		71,895,785
KKR Financial Holdings LLC	54,922		790,328
Leucadia National Corp.	89,144		4,034,657
MarketAxess Holdings, Inc. (a)	26,498		248,286
Marlin Business Services Corp. (a)	13,466		128,196
Medallion Financial Corp.	100		991
MicroFinancial, Inc.	100		540
Moody's Corp.	112,980		4,290,980
MSCI, Inc. Class A	7,143		212,361
NewStar Financial, Inc. (a)	20,000		118,400
NYMEX Holdings, Inc.	30,613		3,024,258
NYSE Euronext	99,154		6,511,443
PICO Holdings, Inc. (a)	10,575		361,454
Portfolio Recovery Associates, Inc. (d)	12,533		457,705
Resource America, Inc. Class A	2,747		32,827
The NASDAQ Stock Market, Inc. (a)	56,097		2,328,586
			273,999,472
Insurance - 4.7%
21st Century Holding Co.	1,486		19,407
ACE Ltd.	166,541		9,366,266
AFLAC, Inc.	253,639		15,829,610
Alfa Corp.	16,241		353,567
Alleghany Corp.	2,497		901,417
Allied World Assurance Co. Holdings Ltd.	13,205		575,078
Allstate Corp.	296,225		14,138,819
AMBAC Financial Group, Inc. (d)	48,759		543,175
American Equity Investment Life Holding Co.	55,540		530,407
American Financial Group, Inc.	40,143		1,038,499
American Independence Corp. (a)	587		4,696
American International Group, Inc.	1,166,114		54,644,102
American National Insurance Co.	5,554		630,101
American Physicians Capital, Inc.	8,587		378,944
Amerisafe, Inc. (a)	19,586		257,556
Amtrust Financial Services, Inc.	20,904		349,097
Aon Corp.	135,993		5,658,669
Arch Capital Group Ltd. (a)	27,514		1,884,159
Argo Group International Holdings, Ltd. (a)	14,976		560,402
	Shares		Value
Arthur J. Gallagher & Co.	43,039		$ 1,015,720
Aspen Insurance Holdings Ltd.	41,213		1,192,704
Assurant, Inc.	51,793		3,239,652
Assured Guaranty Ltd.	38,194		979,676
Atlantic American Corp. (a)	100		155
Axis Capital Holdings Ltd.	65,463		2,413,621
Baldwin & Lyons, Inc. Class B	4,120		100,363
Berkshire Hathaway, Inc. Class A (a)	542		75,880,000
Brown & Brown, Inc.	61,947		1,104,515
CastlePoint Holdings Ltd.	16,100		203,343
Cincinnati Financial Corp.	81,184		3,017,609
Citizens, Inc. Class A (a)(d)	10,251		57,918
CNA Financial Corp.	15,858		422,616
CNA Surety Corp. (a)	10,202		143,950
Commerce Group, Inc., Massachusetts	23,291		844,066
Conseco, Inc. (a)	95,632		1,121,763
Crawford & Co. Class B (a)	12,173		50,153
Delphi Financial Group, Inc. Class A	27,295		823,217
eHealth, Inc. (a)(d)	18,465		452,208
EMC Insurance Group	5,875		129,955
Employers Holdings, Inc.	22,445		384,932
Endurance Specialty Holdings Ltd.	24,864		977,155
Enstar Group Ltd. (a)(d)	2,212		216,754
Erie Indemnity Co. Class A	22,010		1,086,194
Everest Re Group Ltd.	35,207		3,410,854
FBL Financial Group, Inc. Class A	15,106		444,267
Fidelity National Financial, Inc. Class A	111,132		1,957,035
First Acceptance Corp. (a)	4,717		15,377
First Mercury Financial Corp. (a)	10,000		164,500
Flagstone Reinsurance Holdings Ltd.	22,474		287,442
FPIC Insurance Group, Inc. (a)	8,482		370,409
Gainsco, Inc. (a)	123		412
Genworth Financial, Inc. Class A (non-vtg.)	228,358		5,293,338
Hanover Insurance Group, Inc.	28,536		1,246,738
Harleysville Group, Inc.	9,568		321,293
Hartford Financial Services Group, Inc.	165,017		11,534,688
HCC Insurance Holdings, Inc.	52,199		1,255,908
Hilb Rogal & Hobbs Co.	19,799		606,245
Hilltop Holdings, Inc. (a)	49,607		514,921
Horace Mann Educators Corp.	27,796		483,094
Independence Holding Co.	2,923		32,153
Infinity Property & Casualty Corp.	16,435		660,194
Investors Title Co.	1,263		60,510
IPC Holdings Ltd.	28,012		759,685
Kansas City Life Insurance Co.	1,314		54,308
LandAmerica Financial Group, Inc.	10,218		376,227
Lincoln National Corp.	139,810		7,145,689
Loews Corp.	232,535		9,729,264
Markel Corp. (a)	4,972		2,310,737
Marsh & McLennan Companies, Inc.	284,666		7,250,443
Max Capital Group Ltd.	28,105		779,633
MBIA, Inc. (d)	108,322		1,404,936
Meadowbrook Insurance Group, Inc.	20,600		163,976
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Insurance - continued
Mercury General Corp.	16,723		$ 762,569
MetLife, Inc.	237,491		13,836,226
Montpelier Re Holdings Ltd.	48,192		766,735
National Financial Partners Corp.	19,533		464,299
National Security Group, Inc.	1,845		28,413
National Western Life Insurance Co. Class A	1,133		201,844
Nationwide Financial Services, Inc. Class A (sub. vtg.)	25,688		1,059,630
Navigators Group, Inc. (a)	6,565		359,302
Nymagic, Inc.	5,552		134,025
OdysseyRe Holdings Corp.	12,963		469,001
Old Republic International Corp.	112,827		1,547,986
OneBeacon Insurance Group Ltd.	15,601		332,301
PartnerRe Ltd.	25,469		1,958,311
Penn Treaty American Corp. (a)	11,942		68,667
Philadelphia Consolidated Holdings Corp. (a)	27,599		936,158
Phoenix Companies, Inc.	71,358		812,054
Platinum Underwriters Holdings Ltd.	29,130		1,004,985
PMA Capital Corp. Class A (a)	23,448		192,274
Presidential Life Corp.	6,351		106,443
Principal Financial Group, Inc.	136,934		7,562,865
ProAssurance Corp. (a)	15,839		842,160
ProCentury Corp.	22,796		418,307
Progressive Corp.	333,951		6,121,322
Protective Life Corp.	39,211		1,513,152
Prudential Financial, Inc.	236,978		17,292,285
Reinsurance Group of America, Inc.	13,090		716,154
RenaissanceRe Holdings Ltd.	28,452		1,562,015
RLI Corp.	12,647		660,553
SAFECO Corp.	50,506		2,336,408
Safety Insurance Group, Inc.	7,319		271,462
Scottish Re Group Ltd. (a)	24,430		11,726
SCPIE Holding, Inc. (a)	2,442		66,911
SeaBright Insurance Holdings, Inc. (a)	11,665		173,809
Security Capital Assurance Ltd. (d)	25,165		38,251
Selective Insurance Group, Inc.	40,110		953,014
StanCorp Financial Group, Inc.	27,820		1,365,684
State Auto Financial Corp.	7,238		196,439
Stewart Information Services Corp.	6,986		207,973
The Chubb Corp.	198,711		10,114,390
The First American Corp.	38,295		1,333,815
The Midland Co.	7,720		498,866
The Travelers Companies, Inc.	333,561		15,480,566
Torchmark Corp.	44,102		2,657,587
Tower Group, Inc.	23,335		662,947
Transatlantic Holdings, Inc.	12,168		820,123
Unico American Corp. (a)	4,102		38,969
United America Indemnity Ltd. Class A (a)	16,775		314,699
United Fire & Casualty Co.	14,183		487,186
	Shares		Value
Unitrin, Inc.	22,267		$ 792,705
Unum Group	193,575		4,434,803
UTG, Inc. (a)	300		2,910
Validus Holdings Ltd.	16,600		412,344
W.R. Berkley Corp.	80,702		2,323,411
Wesco Financial Corp.	578		224,842
White Mountains Insurance Group Ltd.	3,553		1,753,050
XL Capital Ltd. Class A	94,990		3,425,339
Zenith National Insurance Corp.	17,245		587,710
			375,874,461
Real Estate Investment Trusts - 1.9%
Acadia Realty Trust (SBI)	10,891		249,513
Agree Realty Corp.	8,779		245,900
Alesco Financial, Inc. (d)	80,057		228,162
Alexanders, Inc. (a)	1,147		346,910
Alexandria Real Estate Equities, Inc.	15,276		1,402,337
AMB Property Corp. (SBI)	46,792		2,348,023
American Campus Communities, Inc.	18,599		485,434
American Financial Realty Trust (SBI)	81,744		631,881
American Land Lease, Inc.	3,584		73,902
Annaly Capital Management, Inc.	233,780		4,836,908
Anthracite Capital, Inc. (d)	24,616		157,296
Anworth Mortgage Asset Corp.	56,509		536,270
Apartment Investment & Management Co. Class A	50,291		1,732,525
Arbor Realty Trust, Inc. (d)	16,496		265,256
Ashford Hospitality Trust, Inc.	84,350		560,928
Associated Estates Realty Corp.	9,366		92,255
AvalonBay Communities, Inc.	41,894		3,872,262
BioMed Realty Trust, Inc.	32,887		720,883
Boston Properties, Inc.	60,882		5,246,202
Brandywine Realty Trust (SBI)	41,078		687,646
BRE Properties, Inc.	25,627		1,103,499
BRT Realty Trust (d)	5,453		68,708
Camden Property Trust (SBI)	25,572		1,214,414
Capital Trust, Inc. Class A (d)	10,158		280,361
CapitalSource, Inc.	85,290		1,350,994
CaPlease, Inc.	16,578		136,769
Capstead Mortgage Corp.	24,698		425,300
Care Investment Trust, Inc.	10,413		111,211
CBL & Associates Properties, Inc.	33,314		777,882
CBRE Realty Finance, Inc.	40,000		197,600
Cedar Shopping Centers, Inc.	41,816		485,902
Chimera Investment Corp.	17,000		281,690
Colonial Properties Trust (SBI)	20,958		510,537
Corporate Office Properties Trust (SBI)	23,798		729,171
Cousins Properties, Inc. (d)	20,981		508,999
Crystal River Capital, Inc. (d)	13,087		139,769
DCT Industrial Trust, Inc.	95,957		859,775
Deerfield Capital Corp. (d)	41,246		267,687
Developers Diversified Realty Corp.	60,003		2,313,716
DiamondRock Hospitality Co.	43,495		543,253
Digital Realty Trust, Inc.	41,476		1,488,988
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Investment Trusts - continued
Douglas Emmett, Inc.	44,700		$ 947,193
Duke Realty LP	69,889		1,601,856
DuPont Fabros Technology, Inc.	16,600		278,880
EastGroup Properties, Inc.	14,313		607,301
Education Realty Trust, Inc.	8,412		107,169
Entertainment Properties Trust (SBI)	13,232		620,184
Equity Lifestyle Properties, Inc.	12,301		561,910
Equity One, Inc. (d)	14,649		313,489
Equity Residential (SBI)	138,479		5,287,128
Essex Property Trust, Inc.	11,613		1,219,830
Extra Space Storage, Inc.	55,004		828,910
Federal Realty Investment Trust (SBI)	26,164		1,875,436
FelCor Lodging Trust, Inc.	38,924		491,221
First Industrial Realty Trust, Inc. (d)	24,246		736,593
First Potomac Realty Trust	14,473		226,213
Franklin Street Properties Corp.	32,246		406,945
Friedman, Billings, Ramsey Group, Inc. Class A	117,368		292,246
General Growth Properties, Inc.	123,619		4,364,987
Getty Realty Corp.	9,860		264,840
Gladstone Commercial Corp.	1,075		18,555
Glimcher Realty Trust (d)	20,141		233,636
GMH Communities Trust	22,464		201,277
Gramercy Capital Corp.	5,672		115,879
HCP, Inc.	111,832		3,263,258
Health Care REIT, Inc. (d)	41,220		1,696,615
Healthcare Realty Trust, Inc.	32,076		763,088
Hersha Hospitality Trust	41,950		376,711
Highwoods Properties, Inc. (SBI)	24,854		732,696
Home Properties, Inc.	17,787		818,558
Hospitality Properties Trust (SBI)	51,415		1,867,907
Host Hotels & Resorts, Inc.	283,055		4,582,660
HRPT Properties Trust (SBI)	103,626		712,947
Inland Real Estate Corp.	49,435		689,124
Investors Real Estate Trust	24,777		232,160
iStar Financial, Inc. (d)	57,704		1,137,346
JER Investments Trust, Inc. (d)	14,053		144,043
Kilroy Realty Corp.	18,543		879,494
Kimco Realty Corp.	117,994		3,984,657
Kite Realty Group Trust	17,912		226,408
LaSalle Hotel Properties (SBI)	17,294		499,797
Lexington Corporate Properties Trust	41,316		597,843
Liberty Property Trust (SBI)	41,578		1,235,282
LTC Properties, Inc.	6,991		168,763
Mack-Cali Realty Corp.	35,143		1,212,082
Maguire Properties, Inc. (d)	23,156		526,104
Medical Properties Trust, Inc.	60,649		726,575
MFA Mortgage Investments, Inc.	74,680		713,941
Mid-America Apartment Communities, Inc.	13,111		635,752
Mission West Properties, Inc.	21,235		195,362
	Shares		Value
Monmouth Real Estate Investment Corp. Class A	6,448		$ 52,229
National Health Investors, Inc.	10,937		329,532
National Retail Properties, Inc.	30,504		631,433
Nationwide Health Properties, Inc.	43,004		1,304,311
Newcastle Investment Corp. (d)	28,577		307,203
NorthStar Realty Finance Corp. (d)	28,660		254,787
Omega Healthcare Investors, Inc.	40,196		681,724
One Liberty Properties, Inc.	3,695		64,663
Parkway Properties, Inc.	11,476		410,267
Pennsylvania Real Estate Investment Trust (SBI)	23,275		575,591
Plum Creek Timber Co., Inc.	96,478		3,925,690
Post Properties, Inc.	21,746		914,637
Potlatch Corp.	15,215		627,923
ProLogis Trust	132,229		7,124,499
PS Business Parks, Inc.	6,774		328,878
Public Storage	64,891		5,279,532
Quadra Realty Trust, Inc.	5,162		56,008
RAIT Financial Trust (SBI) (d)	28,276		216,311
Ramco-Gershenson Properties Trust (SBI)	19,394		430,935
Rayonier, Inc.	33,977		1,445,721
Realty Income Corp.	57,902		1,332,325
Redwood Trust, Inc. (d)	15,917		531,946
Regency Centers Corp.	36,699		2,178,086
Resource Capital Corp. (d)	19,474		160,076
Saul Centers, Inc.	8,021		372,174
Senior Housing Properties Trust (SBI)	34,862		741,515
Simon Property Group, Inc.	113,590		9,518,842
SL Green Realty Corp.	32,823		3,003,305
Sovran Self Storage, Inc.	11,580		446,409
Strategic Hotel & Resorts, Inc.	35,287		502,487
Sun Communities, Inc.	28,385		578,486
Sunstone Hotel Investors, Inc.	27,687		433,578
Tanger Factory Outlet Centers, Inc. (d)	15,447		548,369
Taubman Centers, Inc.	24,714		1,204,808
The Macerich Co.	40,203		2,572,992
Thornburg Mortgage, Inc. (SBI) (d)	88,776		790,106
Transcontinental Realty Investors, Inc. (a)	600		9,342
U-Store-It Trust	29,040		291,271
UDR, Inc.	71,566		1,599,500
UMH Properties, Inc.	5,458		61,730
Universal Health Realty Income Trust (SBI)	6,111		205,757
Urstadt Biddle Properties, Inc.	365		5,526
Urstadt Biddle Properties, Inc. Class A	8,855		130,080
Ventas, Inc.	65,526		2,740,297
Vornado Realty Trust	74,268		6,205,834
Washington (REIT) (SBI)	22,360		713,731
Weingarten Realty Investors (SBI)	40,232		1,291,850
Winthrop Realty Trust	25,983		129,395
			151,999,260
Real Estate Management & Development - 0.1%
Brookfield Properties Corp.	111,425		2,076,963
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Management & Development - continued
CB Richard Ellis Group, Inc. Class A (a)(d)	115,308		$ 2,313,078
Consolidated-Tomoka Land Co.	2,829		145,694
Forest City Enterprises, Inc. Class A	32,993		1,159,704
Forestar Real Estate Group, Inc. (a)	15,504		377,988
FX Real Estate & Entertainment, Inc. (a)	4,774		27,164
Jones Lang LaSalle, Inc.	17,951		1,371,277
Meruelo Maddux Properties, Inc.	13,300		56,525
Tejon Ranch Co. (a)	9,238		327,025
The St. Joe Co. (d)	37,990		1,460,716
Thomas Properties Group, Inc.	17,236		163,397
United Capital Corp. (a)	2,262		53,157
			9,532,688
Thrifts & Mortgage Finance - 0.7%
Anchor BanCorp Wisconsin, Inc. (d)	23,617		447,070
Astoria Financial Corp.	37,038		969,284
Bank Mutual Corp.	30,827		331,390
BankAtlantic Bancorp, Inc. Class A (non-vtg.)	10,747		49,006
BankFinancial Corp.	10,309		146,594
BankUnited Financial Corp. Class A (d)	24,961		121,810
BCSB Bankcorp, Inc. (a)	3,596		26,179
Beneficial Mutual Bancorp, Inc. (a)(d)	16,000		146,400
Berkshire Hills Bancorp, Inc.	1,481		33,545
Brookline Bancorp, Inc., Delaware	37,359		359,020
Camco Financial Corp.	404		4,436
Capitol Federal Financial	19,206		666,448
Centerline Holding Co.	38,417		192,085
CFS Bancorp, Inc.	800		11,456
Charter Financial Corp., Georgia	976		31,720
Citizens South Banking Corp., Delaware	4,457		45,417
Clifton Savings Bancorp, Inc.	17,436		172,442
Corus Bankshares, Inc. (d)	27,734		286,492
Countrywide Financial Corp.	289,373		1,825,944
Dime Community Bancshares, Inc.	26,225		399,145
Doral Financial Corp. (a)(d)	1,074		21,158
Downey Financial Corp. (d)	10,368		271,538
ESB Financial Corp.	6,022		62,027
Fannie Mae	509,468		14,086,790
Farmer Mac Class C (non-vtg.)	7,000		168,280
First Busey Corp. (d)	20,930		391,600
First Defiance Financial Corp.	3,662		71,922
First Financial Holdings, Inc.	7,180		163,058
First Financial Service Corp.	2,933		67,899
First Niagara Financial Group, Inc.	50,467		576,333
First Place Financial Corp.	7,637		93,630
FirstFed Financial Corp. (a)(d)	11,125		347,656
Flagstar Bancorp, Inc. (d)	25,355		181,542
Flushing Financial Corp.	3,744		61,027
Franklin Bank Corp. (a)(d)	18,082		69,435
Freddie Mac	342,880		8,633,718
	Shares		Value
Fremont General Corp. (d)	22,020		$ 21,800
Guaranty Federal Bancshares, Inc.	1,075		28,756
Guaranty Financial Group, Inc. (a)	15,504		202,947
Hingham Institution for Savings	1,751		51,392
Home Federal Bancorp	2,634		60,977
Hudson City Bancorp, Inc.	262,517		4,166,145
Imperial Capital Bancorp, Inc.	5,075		113,477
IndyMac Bancorp, Inc. (d)	32,480		199,752
MASSBANK Corp.	886		34,554
MGIC Investment Corp. (d)	60,802		900,478
NASB Financial, Inc. (d)	1,400		30,100
New York Community Bancorp, Inc. (d)	163,685		2,672,976
NewAlliance Bancshares, Inc.	65,417		744,445
Northwest Bancorp, Inc. (d)	11,404		301,180
OceanFirst Financial Corp.	6,806		109,849
Ocwen Financial Corp. (a)(d)	16,398		98,388
Oritani Financial Corp. (a)	4,300		47,558
Pamrapo Bancorp, Inc.	3,273		54,626
Parkvale Financial Corp.	597		16,579
People's United Financial, Inc.	80,439		1,356,202
Peoples Bancorp, Auburn, Indiana	300		4,545
PFF Bancorp, Inc. (d)	12,718		107,721
Provident Financial Holdings, Inc.	1,612		27,243
Provident Financial Services, Inc.	44,816		537,344
Provident New York Bancorp (d)	30,838		404,286
PVF Capital Corp.	4,876		52,173
Radian Group, Inc. (d)	32,947		234,583
Riverview Bancorp, Inc.	7,997		85,568
Sovereign Bancorp, Inc. (d)	158,514		1,748,409
TF Financial Corp.	1,890		44,415
TFS Financial Corp.	41,000		508,400
The PMI Group, Inc.	44,028		320,084
TierOne Corp.	11,942		175,547
Timberland Bancorp, Inc.	5,856		74,488
Triad Guaranty, Inc. (a)(d)	5,075		29,841
Trustco Bank Corp., New York (d)	67,794		586,418
United Community Financial Corp., Ohio	12,574		69,786
ViewPoint Financial Group	10,000		155,200
Washington Federal, Inc.	46,238		1,049,603
Washington Mutual, Inc. (d)	459,430		6,799,564
Westfield Financial, Inc.	8,879		88,968
Willow Financial Bancorp, Inc.	5,198		42,572
WSFS Financial Corp.	2,835		134,237
			56,026,672
TOTAL FINANCIALS			1,369,326,302
HEALTH CARE - 11.5%
Biotechnology - 1.6%
Aastrom Biosciences, Inc. (a)	1,900		990
Abraxis BioScience, Inc. (a)(d)	2,220		135,353
Acadia Pharmaceuticals, Inc. (a)(d)	22,950		227,664
Acorda Therapeutics, Inc. (a)	19,833		405,387
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Alexion Pharmaceuticals, Inc. (a)(d)	19,236		$ 1,165,894
Alkermes, Inc. (a)	50,041		647,531
Alnylam Pharmaceuticals, Inc. (a)(d)	18,382		522,049
Alseres Pharmaceuticals, Inc. (a)	1,080		2,808
Amgen, Inc. (a)	570,541		25,971,026
Amylin Pharmaceuticals, Inc. (a)(d)	74,827		1,980,671
Antigenics, Inc. (a)(d)	5,388		12,123
Arena Pharmaceuticals, Inc. (a)(d)	25,188		170,775
ARIAD Pharmaceuticals, Inc. (a)(d)	84,946		284,569
ArQule, Inc. (a)	4,060		18,514
Array Biopharma, Inc. (a)	25,095		140,532
Avant Immunotherapeutics, Inc. (a)	2,169		1,497
AVI BioPharma, Inc. (a)	2,700		3,672
Avigen, Inc. (a)	1,600		5,296
BioCryst Pharmaceuticals, Inc. (a)(d)	12,030		47,879
Biogen Idec, Inc. (a)	156,644		9,141,744
BioMarin Pharmaceutical, Inc. (a)	52,480		1,996,339
BioSphere Medical, Inc. (a)	800		3,120
Celgene Corp. (a)	201,185		11,340,798
Cell Genesys, Inc. (a)(d)	103,415		244,059
Cell Therapeutics, Inc. (a)(d)	41,080		54,636
Cephalon, Inc. (a)	37,211		2,245,312
Cepheid, Inc. (a)	45,427		1,257,419
Cubist Pharmaceuticals, Inc. (a)	35,855		652,561
CuraGen Corp. (a)	5,707		4,166
CV Therapeutics, Inc. (a)	35,100		204,984
Cytogen Corp. (a)	370		189
Cytokinetics, Inc. (a)	14,366		48,413
Dendreon Corp. (a)(d)	44,342		234,126
Dyax Corp. (a)	11,447		49,794
Dynavax Technologies Corp. (a)(d)	35,880		223,174
Encysive Pharmaceuticals, Inc. (a)	17,196		39,551
EntreMed, Inc. (a)	3,700		3,367
Enzon Pharmaceuticals, Inc. (a)(d)	46,219		397,021
Epicept Corp. (a)	305		299
EPIX Pharmaceuticals, Inc. (a)(d)	2,304		7,027
Exact Sciences Corp. (a)	3,245		6,360
Genelabs Technologies, Inc. (a)	1,960		2,156
Genentech, Inc. (a)	244,960		18,555,720
Genitope Corp. (a)(d)	14,102		9,448
GenVec, Inc. (a)	20,350		23,199
Genzyme Corp. (a)	135,499		9,609,589
Geron Corp. (a)(d)	39,828		195,954
Gilead Sciences, Inc. (a)	488,445		23,113,217
GTC Biotherapeutics, Inc. (a)	4,100		2,870
Halozyme Therapeutics, Inc. (a)(d)	46,200		254,100
Hemispherx Biopharma, Inc. (a)(d)	800		664
Human Genome Sciences, Inc. (a)(d)	62,626		370,120
Idenix Pharmaceuticals, Inc. (a)(d)	4,502		24,446
IDM Pharma, Inc. (a)	442		972
ImClone Systems, Inc. (a)	33,037		1,486,995
	Shares		Value
ImmunoGen, Inc. (a)	2,572		$ 7,639
Immunomedics, Inc. (a)	5,227		12,911
Incyte Corp. (a)	29,873		296,041
Indevus Pharmaceuticals, Inc. (a)(d)	49,609		246,061
Infinity Pharmaceuticals, Inc. (a)	53		398
InterMune, Inc. (a)(d)	14,390		202,611
Introgen Therapeutics, Inc. (a)(d)	6,886		19,763
Isis Pharmaceuticals, Inc. (a)(d)	44,948		647,251
Keryx Biopharmaceuticals, Inc. (a)(d)	23,883		137,327
Kosan Biosciences, Inc. (a)	1,712		3,407
La Jolla Pharmaceutical Co. (a)	2,083		5,187
Lexicon Pharmaceuticals, Inc. (a)	6,506		12,101
LifeCell Corp. (a)	19,734		796,267
Ligand Pharmaceuticals, Inc. Class B	44,933		152,323
MannKind Corp. (a)(d)	36,288		256,556
Martek Biosciences (a)	26,025		745,877
Maxygen, Inc. (a)	6,687		42,931
Medarex, Inc. (a)(d)	64,112		596,242
Metabolix, Inc. (a)	16,896		272,026
Millennium Pharmaceuticals, Inc. (a)	176,224		2,465,374
Momenta Pharmaceuticals, Inc. (a)	11,130		113,081
Monogram Biosciences, Inc. (a)	20,122		29,378
Myriad Genetics, Inc. (a)(d)	25,636		949,045
Nabi Biopharmaceuticals (a)	12,447		48,170
Neopharm, Inc. (a)	3,904		2,381
Neose Technologies, Inc. (a)	1,356		706
Neurocrine Biosciences, Inc. (a)	15,860		79,459
Neurogen Corp. (a)	500		795
Northfield Laboratories, Inc. (a)	11,290		11,742
Novavax, Inc. (a)(d)	6,883		19,272
NPS Pharmaceuticals, Inc. (a)	6,507		25,768
Nuvelo, Inc. (a)	19,505		32,573
Omrix Biopharmaceuticals, Inc. (a)	9,333		225,392
ONYX Pharmaceuticals, Inc. (a)	27,635		754,988
Orchid Cellmark, Inc. (a)	3,164		14,523
Orthologic Corp. (a)	7,445		7,817
Oscient Pharmaceuticals Corp. (a)	693		1,407
OSI Pharmaceuticals, Inc. (a)(d)	34,211		1,229,885
Palatin Technologies, Inc. (a)	13,627		5,178
Panacos Pharmaceuticals, Inc. (a)	50,213		34,647
PDL BioPharma, Inc. (a)	53,396		853,268
Peregrine Pharmaceuticals, Inc. (a)	8,337		5,252
Pharmacopeia Drug Discovery, Inc. (a)	2,082		7,662
Pharmacyclics, Inc. (a)	4,815		5,585
Pharmion Corp. (a)	19,012		1,361,069
Progenics Pharmaceuticals, Inc. (a)	15,270		233,631
Regeneron Pharmaceuticals, Inc. (a)	39,166		774,312
Renovis, Inc. (a)	10,098		23,932
Repligen Corp. (a)	6,096		32,248
Rigel Pharmaceuticals, Inc. (a)	23,551		466,781
Sangamo Biosciences, Inc. (a)(d)	43,327		506,926
Savient Pharmaceuticals, Inc. (a)(d)	30,093		682,509
SciClone Pharmaceuticals, Inc. (a)	7,834		15,668
Seattle Genetics, Inc. (a)	42,640		383,334
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Senomyx, Inc. (a)	21,458		$ 145,914
Sonus Pharmaceuticals, Inc. (a)	200		94
StemCells, Inc. (a)	7,323		11,058
Tapestry Pharmaceuticals, Inc. (a)	630		42
Telik, Inc. (a)(d)	13,264		33,293
Theravance, Inc. (a)(d)	27,633		454,563
Third Wave Technologies, Inc. (a)	8,600		68,542
Titan Pharmaceuticals, Inc. (a)	1,300		1,495
TorreyPines Therapeutics, Inc. (a)	3,331		6,362
Trimeris, Inc. (a)(d)	16,866		101,365
United Therapeutics Corp. (a)	12,694		1,068,454
Vanda Pharmaceuticals, Inc. (a)	9,603		43,790
Vermillion, Inc. (a)	2,209		1,171
Vertex Pharmaceuticals, Inc. (a)(d)	77,591		1,357,843
Vical, Inc. (a)	1,900		7,239
XOMA Ltd. (a)(d)	118,882		301,960
Zymogenetics, Inc. (a)(d)	47,216		471,688
			133,479,689
Health Care Equipment & Supplies - 2.1%
Abaxis, Inc. (a)	11,989		349,359
Abiomed, Inc. (a)(d)	36,112		516,402
Accuray, Inc. (d)	17,900		185,623
Advanced Medical Optics, Inc. (a)(d)	26,399		604,009
Align Technology, Inc. (a)(d)	27,534		340,045
American Medical Systems Holdings, Inc. (a)(d)	29,474		430,026
Analogic Corp.	8,043		470,596
Angiodynamics, Inc. (a)	5,971		98,999
ArthroCare Corp. (a)(d)	17,284		693,953
Aspect Medical Systems, Inc. (a)	6,586		82,127
Atrion Corp.	239		24,378
Baxter International, Inc.	333,268		19,669,477
Beckman Coulter, Inc.	30,756		2,076,030
Becton, Dickinson & Co.	117,618		10,635,020
BioLase Technology, Inc. (a)(d)	4,009		14,072
Boston Scientific Corp. (a)	739,290		9,307,661
C.R. Bard, Inc.	50,959		4,830,404
Candela Corp. (a)	10,141		46,344
Cantel Medical Corp. (a)	10,922		120,360
Cardiac Science Corp. (a)	1,171		10,879
Cardiodynamics International Corp. (a)	8,210		2,556
Cerus Corp. (a)	7,762		48,513
Clarient, Inc. (a)	3,500		7,035
Conceptus, Inc. (a)(d)	13,129		223,981
CONMED Corp. (a)	22,708		612,208
Cooper Companies, Inc.	22,174		758,129
Covidien Ltd.	256,797		10,988,344
Cryolife, Inc. (a)	4,384		41,253
Cutera, Inc. (a)	5,971		75,712
Cyberonics, Inc. (a)	4,454		57,457
Cynosure, Inc. Class A (a)	4,942		118,262
	Shares		Value
Datascope Corp.	8,463		$ 294,512
DENTSPLY International, Inc.	68,422		2,671,195
DexCom, Inc. (a)(d)	17,534		129,226
Edwards Lifesciences Corp. (a)(d)	30,426		1,326,878
ev3, Inc. (a)(d)	46,492		410,989
Exactech, Inc. (a)	2,735		71,794
Fonar Corp. (a)	837		3,566
Gen-Probe, Inc. (a)	25,228		1,206,151
Greatbatch, Inc. (a)	13,845		295,868
Haemonetics Corp. (a)	14,315		831,702
HealthTronics, Inc. (a)	8,119		29,634
Hillenbrand Industries, Inc.	29,476		1,546,606
Hologic, Inc. (a)(d)	68,104		4,107,352
Hospira, Inc. (a)	81,534		3,470,087
I-Flow Corp. (a)	11,248		158,484
ICU Medical, Inc. (a)	5,433		145,822
IDEXX Laboratories, Inc. (a)	30,674		1,701,487
Immucor, Inc. (a)	34,048		1,014,630
Implant Sciences Corp. (a)	200		300
Insulet Corp.	6,260		107,234
Integra LifeSciences Holdings Corp. (a)(d)	13,035		540,170
Intuitive Surgical, Inc. (a)	19,799		5,581,734
Invacare Corp.	17,763		443,364
Inverness Medical Innovations, Inc. (a)(d)	38,003		1,107,787
IRIS International, Inc. (a)	8,470		95,457
IVAX Diagnostics, Inc. (a)	3,600		2,088
Kensey Nash Corp. (a)	1,684		45,721
Kewaunee Scientific Corp.	1,601		28,322
Kinetic Concepts, Inc. (a)	25,821		1,326,941
Lifecore Biomedical, Inc. (a)	11,000		185,130
Masimo Corp.	22,032		706,346
Medical Action Industries, Inc. (a)	5,016		94,401
Medtronic, Inc.	598,778		29,555,682
Mentor Corp.	18,763		556,511
Meridian Bioscience, Inc.	30,499		1,045,201
Merit Medical Systems, Inc. (a)	27,493		435,764
Misonix, Inc. (a)	3,000		12,750
Natus Medical, Inc. (a)	19,219		364,969
Neogen Corp. (a)	2,911		78,568
Neoprobe Corp. (a)	100		35
North American Scientific, Inc. (a)	2,705		1,055
NuVasive, Inc. (a)	32,642		1,258,023
NxStage Medical, Inc. (a)(d)	36,056		213,452
OraSure Technologies, Inc. (a)	23,767		169,696
Orthofix International NV (a)	8,645		346,232
Osteotech, Inc. (a)	3,427		14,976
Palomar Medical Technologies, Inc. (a)	10,806		143,828
PLC Systems, Inc. (a)	400		164
Possis Medical, Inc. (a)	3,702		71,893
Quidel Corp. (a)	15,892		261,106
ResMed, Inc. (a)(d)	37,089		1,501,734
Respironics, Inc. (a)	39,387		2,586,938
Retractable Technologies, Inc. (a)	6,105		9,158
RTI Biologics, Inc. (a)	25,405		218,483
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Equipment & Supplies - continued
Sirona Dental Systems, Inc. (a)	13,981		$ 363,646
Somanetics Corp. (a)	5,971		165,934
Sonic Innovations, Inc. (a)	3,941		16,670
SonoSite, Inc. (a)(d)	10,661		313,753
St. Jude Medical, Inc. (a)	177,650		7,635,397
Staar Surgical Co. (a)	3,978		9,229
Stereotaxis, Inc. (a)(d)	28,535		164,647
Steris Corp.	32,480		799,658
Strategic Diagnostics, Inc. (a)	3,100		13,454
Stryker Corp.	160,384		10,442,602
SurModics, Inc. (a)(d)	11,705		517,010
Symmetry Medical, Inc. (a)	14,077		250,571
Synovis Life Technologies, Inc. (a)	1,000		17,680
The Spectranetics Corp. (a)	20,955		188,595
Theragenics Corp. (a)	1,300		5,044
ThermoGenesis Corp. (a)	73,719		122,374
Thoratec Corp. (a)	33,069		479,831
TomoTherapy, Inc. (d)	19,200		252,864
Urologix, Inc. (a)	3,800		4,218
Varian Medical Systems, Inc. (a)	66,734		3,500,198
Vital Signs, Inc.	6,168		313,643
Vnus Medical Technologies, Inc. (a)	10,000		186,900
Volcano Corp. (a)	19,293		236,532
West Pharmaceutical Services, Inc.	14,675		606,078
Wright Medical Group, Inc. (a)	29,021		763,833
Young Innovations, Inc.	2,508		53,521
Zimmer Holdings, Inc. (a)	124,180		9,349,512
Zoll Medical Corp. (a)	19,936		496,008
			169,235,812
Health Care Providers & Services - 2.2%
Aetna, Inc.	259,923		12,892,181
Air Methods Corp. (a)	13,436		552,488
Alliance Imaging, Inc. (a)	5,330		52,341
Amedisys, Inc. (a)	16,197		692,908
America Service Group, Inc. (a)	11,000		79,640
American Dental Partners, Inc. (a)(d)	4,710		45,075
AMERIGROUP Corp. (a)	23,431		843,516
AmerisourceBergen Corp.	85,123		3,551,332
AMN Healthcare Services, Inc. (a)	24,202		391,830
AmSurg Corp. (a)	12,681		305,485
Animal Health International, Inc.	5,300		55,862
Apria Healthcare Group, Inc. (a)	28,569		620,233
Assisted Living Concepts, Inc. Class A (a)	49,001		294,986
Bio-Reference Laboratories, Inc. (a)	13,966		386,160
BioScrip, Inc. (a)	8,518		59,882
Brookdale Senior Living, Inc. (d)	26,715		696,994
Capital Senior Living Corp. (a)	30,965		233,476
Cardinal Health, Inc.	188,825		11,167,111
Centene Corp. (a)	16,879		302,472
Chemed Corp.	11,792		562,596
CIGNA Corp.	143,315		6,388,983
	Shares		Value
Community Health Systems, Inc. (a)	44,780		$ 1,391,315
Corvel Corp. (a)	2,959		89,155
Coventry Health Care, Inc. (a)	80,763		4,189,177
Cross Country Healthcare, Inc. (a)	7,031		76,357
DaVita, Inc. (a)	53,765		2,668,357
Dialysis Corp. of America (a)	3,005		25,032
Emergency Medical Services Corp. Class A (a)	600		14,838
Express Scripts, Inc. (a)	109,831		6,491,012
Five Star Quality Care, Inc. (a)	28,197		202,172
Gentiva Health Services, Inc. (a)	8,630		186,063
Hanger Orthopedic Group, Inc. (a)	3,419		39,626
Health Management Associates, Inc. Class A	124,688		667,081
Health Net, Inc. (a)	52,943		2,326,315
HealthExtras, Inc. (a)	18,378		506,314
HealthSouth Corp. (a)(d)	39,501		635,176
Healthspring, Inc. (a)	40,674		713,829
Healthways, Inc. (a)	18,141		623,143
Henry Schein, Inc. (a)	46,535		2,783,724
HMS Holdings Corp. (a)	18,275		500,004
Hooper Holmes, Inc. (a)	7,290		4,739
Humana, Inc. (a)	86,549		5,913,893
InVentiv Health, Inc. (a)	17,853		567,725
Kindred Healthcare, Inc. (a)	18,367		387,360
Laboratory Corp. of America Holdings (a)	62,083		4,799,637
Landauer, Inc.	12,764		610,119
LCA-Vision, Inc.	8,343		114,967
LHC Group, Inc. (a)(d)	14,902		253,334
LifePoint Hospitals, Inc. (a)	29,832		747,590
Lincare Holdings, Inc. (a)	39,845		1,294,963
Magellan Health Services, Inc. (a)	16,653		721,574
Matria Healthcare, Inc. (a)	15,369		386,069
McKesson Corp.	150,039		8,816,292
Medcath Corp. (a)	8,479		176,787
Medco Health Solutions, Inc. (a)	282,484		12,516,866
Medical Staffing Network Holdings, Inc. (a)	4,777		26,512
Molina Healthcare, Inc. (a)	5,873		185,880
MWI Veterinary Supply, Inc. (a)	10,005		348,474
National Healthcare Corp.	2,394		111,704
Nighthawk Radiology Holdings, Inc. (a)	15,857		181,087
Odyssey Healthcare, Inc. (a)	14,808		129,422
Omnicare, Inc.	56,806		1,191,790
Owens & Minor, Inc.	23,016		988,998
Patterson Companies, Inc. (a)	63,046		2,219,219
PDI, Inc. (a)	1,588		12,498
Pediatrix Medical Group, Inc. (a)	25,276		1,668,469
PharMerica Corp. (a)(d)	13,819		203,416
Providence Service Corp. (a)	15,408		434,352
PSS World Medical, Inc. (a)	37,351		653,643
Psychiatric Solutions, Inc. (a)	24,431		691,153
Quest Diagnostics, Inc. (d)	76,296		3,637,030
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Providers & Services - continued
RehabCare Group, Inc. (a)	15,055		$ 301,100
ResCare, Inc. (a)	18,619		401,053
Rural/Metro Corp. (a)	7,404		19,991
Skilled Healthcare Group, Inc.	3,461		43,609
SRI/Surgical Express, Inc. (a)	900		3,771
Sun Healthcare Group, Inc. (a)	24,223		357,047
Sunrise Senior Living, Inc. (a)(d)	17,567		480,984
Tenet Healthcare Corp. (a)	231,988		1,115,862
Triple-S Management Corp.	16,998		343,360
U.S. Physical Therapy, Inc. (a)	3,075		40,744
UnitedHealth Group, Inc.	677,635		31,496,475
Universal American Financial Corp. (a)	13,972		240,039
Universal Health Services, Inc. Class B	24,712		1,320,115
VCA Antech, Inc. (a)(d)	45,340		1,455,867
VistaCare, Inc. Class A (a)	3,424		29,344
Wellcare Health Plans, Inc. (a)	24,178		1,154,258
WellPoint, Inc. (a)	298,250		20,901,360
			174,004,782
Health Care Technology - 0.1%
A.D.A.M., Inc. (a)	1,800		12,528
Allscripts Healthcare Solutions, Inc. (a)(d)	36,249		386,777
AMICAS, Inc. (a)	9,737		25,511
Cash Technologies, Inc. (a)	3,400		629
Cerner Corp. (a)	33,758		1,466,785
Computer Programs & Systems, Inc.	11,546		257,129
Eclipsys Corp. (a)	19,157		409,002
Emageon, Inc. (a)	20,901		48,490
HLTH Corp. (a)(d)	102,138		1,209,314
IMS Health, Inc.	97,709		2,199,430
MedAssets, Inc.	14,182		257,545
Merge Technologies, Inc. (a)	11,344		6,012
Omnicell, Inc. (a)	29,246		555,674
Phase Forward, Inc. (a)	23,819		379,437
ProxyMed, Inc. (a)	63		119
TriZetto Group, Inc. (a)	17,011		332,055
Vital Images, Inc. (a)(d)	11,918		189,019
			7,735,456
Life Sciences Tools & Services - 0.5%
Accelrys, Inc. (a)	4,972		28,788
Affymetrix, Inc. (a)(d)	37,569		720,573
Albany Molecular Research, Inc. (a)	27,799		309,403
Alliance Pharmaceutical Corp. (a)	300		6
AMAG Pharmaceuticals, Inc. (a)(d)	8,266		361,803
Applera Corp.:
- Applied Biosystems Group	90,093		3,037,035
- Celera Genomics Group (a)	51,459		713,222
Bio-Rad Laboratories, Inc. Class A (a)	9,356		883,581
Bruker BioSciences Corp. (a)	56,937		778,329
Caliper Life Sciences, Inc. (a)(d)	5,632		23,485
Cambrex Corp.	21,547		188,105
	Shares		Value
Charles River Laboratories International, Inc. (a)	32,388		$ 1,897,289
Covance, Inc. (a)	30,626		2,585,141
Cryo-Cell International, Inc. (a)	9,581		8,431
Dionex Corp. (a)(d)	12,755		941,574
Enzo Biochem, Inc. (a)	17,097		161,054
eResearchTechnology, Inc. (a)(d)	28,484		340,669
Exelixis, Inc. (a)	48,677		310,559
Harvard Bioscience, Inc. (a)	786		3,608
Illumina, Inc. (a)(d)	31,329		2,268,533
Invitrogen Corp. (a)	24,599		2,078,370
Kendle International, Inc. (a)(d)	12,762		571,865
Luminex Corp. (a)(d)	12,155		211,619
Medivation, Inc. (a)(d)	20,015		320,440
Millipore Corp. (a)	29,646		2,072,255
Nektar Therapeutics (a)(d)	48,707		338,514
Ore Pharmaceuticals, Inc. (a)	4,200		2,835
PAREXEL International Corp. (a)	16,904		928,875
PerkinElmer, Inc.	57,053		1,416,055
Pharmaceutical Product Development, Inc.	53,601		2,415,797
PharmaNet Development Group, Inc. (a)	11,555		333,131
Sequenom, Inc. (a)	2,480		17,335
Techne Corp. (a)	17,657		1,207,562
Thermo Fisher Scientific, Inc. (a)	222,384		12,437,937
Varian, Inc. (a)	15,040		814,416
Waters Corp. (a)	52,376		3,122,133
			43,850,327
Pharmaceuticals - 5.0%
Abbott Laboratories	804,934		43,104,216
Acusphere, Inc. (a)	2,800		1,764
Adolor Corp. (a)	25,094		114,680
Akorn, Inc. (a)(d)	30,000		190,800
Alexza Pharmaceuticals, Inc. (a)	13,000		82,160
Allergan, Inc.	161,481		9,564,520
Alpharma, Inc. Class A (a)	32,656		822,278
APP Pharmaceuticals, Inc. (a)	8,880		99,811
Atherogenics, Inc. (a)	6,856		6,033
Auxilium Pharmaceuticals, Inc. (a)	18,538		593,958
AVANIR Pharmaceuticals Class A (a)	21,996		26,615
Barr Pharmaceuticals, Inc. (a)	55,835		2,632,620
Bentley Pharmaceuticals, Inc. (a)	2,936		43,541
BioMimetic Therapeutics, Inc. (a)	5,000		68,700
Bristol-Myers Squibb Co.	1,035,431		23,411,095
Collagenex Pharmaceuticals, Inc. (a)	2,627		42,873
Columbia Laboratories, Inc. (a)	7,190		17,616
Cypress Bioscience, Inc. (a)	31,654		253,232
DepoMed, Inc. (a)	8,176		27,798
Discovery Laboratories, Inc. (a)	3,800		7,904
Durect Corp. (a)	9,673		48,075
Eli Lilly & Co.	509,510		25,485,690
Emisphere Technologies, Inc. (a)(d)	3,941		7,173
Endo Pharmaceuticals Holdings, Inc. (a)	66,046		1,734,368
Forest Laboratories, Inc. (a)	159,886		6,358,666
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Pharmaceuticals - continued
Hi-Tech Pharmacal Co., Inc. (a)	2,015		$ 22,447
Hollis-Eden Pharmaceuticals, Inc. (a)	1,300		2,457
Immtech Pharmaceuticals, Inc. (a)	1,200		960
Inspire Pharmaceuticals, Inc. (a)	17,519		78,660
Johnson & Johnson	1,500,165		92,950,223
King Pharmaceuticals, Inc. (a)	112,365		1,191,069
KV Pharmaceutical Co. Class A (a)	25,710		645,835
Matrixx Initiatives, Inc. (a)	3,709		53,781
Medicines Co. (a)	23,730		457,040
Medicis Pharmaceutical Corp. Class A	24,515		502,803
Merck & Co., Inc.	1,138,850		50,451,055
MiddleBrook Pharmaceuticals, Inc. (a)(d)	2,800		11,816
Mylan, Inc. (d)	153,703		1,819,844
Nastech Pharmaceutical Co., Inc. (a)(d)	25,476		58,850
NitroMed, Inc. (a)	7,065		7,842
Noven Pharmaceuticals, Inc. (a)	16,093		218,221
Obagi Medical Products, Inc. (a)	10,991		171,020
Pain Therapeutics, Inc. (a)(d)	35,234		297,023
Par Pharmaceutical Companies, Inc. (a)	22,867		404,517
Penwest Pharmaceuticals Co. (a)	3,340		10,287
Perrigo Co.	47,847		1,599,047
Pfizer, Inc.	3,578,337		79,725,348
Pozen, Inc. (a)(d)	20,149		245,616
Salix Pharmaceuticals Ltd. (a)(d)	14,324		96,687
Santarus, Inc. (a)	14,630		26,334
Schering-Plough Corp.	856,666		18,589,652
Sciele Pharma, Inc. (a)(d)	14,633		302,903
Sepracor, Inc. (a)	66,403		1,425,672
Spectrum Pharmaceuticals, Inc. (a)	192		497
SuperGen, Inc. (a)	6,806		18,717
Valeant Pharmaceuticals International (a)	38,701		532,139
ViroPharma, Inc. (a)	40,812		373,838
Vivus, Inc. (a)	73,666		431,683
Warner Chilcott Ltd. (a)	48,187		812,915
Watson Pharmaceuticals, Inc. (a)	52,973		1,473,179
Wyeth	700,769		30,567,544
XenoPort, Inc. (a)	15,634		799,992
Zila, Inc. (a)	4,200		2,352
			401,126,051
TOTAL HEALTH CARE			929,432,117
INDUSTRIALS - 11.3%
Aerospace & Defense - 2.3%
AAR Corp. (a)	26,763		692,894
AeroCentury Corp. (a)	800		12,800
AeroVironment, Inc.	3,200		67,968
Alliant Techsystems, Inc. (a)	17,247		1,809,900
American Science & Engineering, Inc.	4,657		252,223
Applied Signal Technology, Inc.	15,269		181,701
Argon ST, Inc. (a)	14,975		243,344
	Shares		Value
Astronics Corp. (a)	2,747		$ 54,253
BE Aerospace, Inc. (a)	45,472		1,559,690
Ceradyne, Inc. (a)	12,988		404,057
Cubic Corp.	5,635		144,087
Curtiss-Wright Corp.	22,872		961,996
DRS Technologies, Inc.	20,696		1,160,839
Ducommun, Inc. (a)	3,105		86,102
DynCorp International, Inc. Class A (a)	8,722		144,960
Esterline Technologies Corp. (a)	14,157		741,827
GenCorp, Inc. (non-vtg.) (a)	32,091		333,746
General Dynamics Corp.	174,644		14,294,611
Goodrich Corp.	64,536		3,822,467
Heico Corp. Class A	9,890		359,897
Herley Industries, Inc. (a)	3,619		43,392
Hexcel Corp. (a)	52,628		1,062,559
Honeywell International, Inc.	358,203		20,611,001
Innovative Solutions & Support, Inc. (a)(d)	23,580		213,399
Irvine Sensors Corp. (a)	430		176
L-3 Communications Holdings, Inc.	64,136		6,817,015
Ladish Co., Inc. (a)	5,776		206,203
Lockheed Martin Corp.	169,750		17,518,200
Moog, Inc. Class A (a)	19,711		808,939
MTC Technologies, Inc. (a)	2,985		70,745
Northrop Grumman Corp.	162,996		12,813,116
Orbital Sciences Corp. (a)	33,015		714,775
Precision Castparts Corp.	70,638		7,797,729
Raytheon Co.	221,690		14,374,380
Rockwell Collins, Inc.	83,002		4,888,818
Spirit AeroSystems Holdings, Inc. Class A (a)	49,189		1,329,087
Stanley, Inc. (a)	7,416		205,349
Sypris Solutions, Inc.	3,224		15,507
Taser International, Inc. (a)(d)	42,685		481,060
Teledyne Technologies, Inc. (a)	18,970		842,268
The Boeing Co.	363,039		30,055,999
TransDigm Group, Inc. (a)	10,887		423,069
Triumph Group, Inc.	11,289		638,845
United Technologies Corp.	481,390		33,942,809
			183,203,802
Air Freight & Logistics - 0.6%
ABX Air, Inc. (a)	17,036		52,130
Atlas Air Worldwide Holdings, Inc. (a)	5,919		299,501
C.H. Robinson Worldwide, Inc.	84,518		4,290,979
Dynamex, Inc. (a)	4,777		110,444
Expeditors International of Washington, Inc.	109,205		4,293,941
FedEx Corp.	146,891		12,945,504
Forward Air Corp.	23,713		695,977
Hub Group, Inc. Class A (a)	17,492		524,585
Pacer International, Inc.	34,535		530,803
United Parcel Service, Inc. Class B	354,526		24,901,906
UTI Worldwide, Inc.	55,295		927,850
			49,573,620
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Airlines - 0.2%
AirTran Holdings, Inc. (a)(d)	62,329		$ 450,015
Alaska Air Group, Inc. (a)	27,766		677,490
Allegiant Travel Co. (a)	12,630		343,662
AMR Corp. (a)	131,416		1,683,439
Continental Airlines, Inc. Class B (a)(d)	43,046		1,040,852
Delta Air Lines, Inc. (a)(d)	132,359		1,766,993
ExpressJet Holdings, Inc. Class A (a)	42,661		103,666
Frontier Airlines Holdings, Inc. (a)(d)	54,601		159,981
Great Lakes Aviation Ltd. (a)	200		420
JetBlue Airways Corp. (a)(d)	80,304		437,657
MAIR Holdings, Inc. (a)	6,324		27,067
Mesa Air Group, Inc. (a)	12,128		29,350
Northwest Airlines Corp. (a)	116,321		1,562,191
Pinnacle Airlines Corp. (a)(d)	13,246		148,488
Republic Airways Holdings, Inc. (a)	14,499		283,455
SkyWest, Inc.	25,270		558,972
Southwest Airlines Co.	361,016		4,426,056
UAL Corp. (d)	60,912		1,845,634
US Airways Group, Inc. (a)	40,418		501,183
			16,046,571
Building Products - 0.2%
Aaon, Inc.	4,021		66,387
American Woodmark Corp. (d)	8,120		154,118
Ameron International Corp.	7,610		839,916
Apogee Enterprises, Inc.	7,704		118,565
Armstrong World Industries, Inc. (a)	10,573		380,628
Builders FirstSource, Inc. (a)(d)	7,165		47,504
Gibraltar Industries, Inc.	13,833		151,195
Griffon Corp. (a)	6,305		55,799
Insteel Industries, Inc.	19,514		210,166
Lennox International, Inc.	32,284		1,215,170
Masco Corp.	201,834		3,772,277
NCI Building Systems, Inc. (a)	8,960		271,846
Owens Corning (a)(d)	39,459		744,197
Patrick Industries, Inc. (a)	600		4,566
Simpson Manufacturing Co. Ltd. (d)	24,564		588,553
Trane, Inc.	85,738		3,862,497
Trex Co., Inc. (a)(d)	1,672		13,042
Universal Forest Products, Inc.	10,472		290,912
USG Corp. (a)(d)	39,649		1,349,255
			14,136,593
Commercial Services & Supplies - 0.9%
ABM Industries, Inc.	38,140		757,460
ACCO Brands Corp. (a)	27,832		386,030
Administaff, Inc.	13,010		320,827
Advisory Board Co. (a)	12,585		699,348
Allied Waste Industries, Inc. (a)	160,705		1,661,690
American Ecology Corp.	4,777		118,995
American Reprographics Co. (a)	18,051		292,065
Angelica Corp.	2,508		41,507
	Shares		Value
APAC Customer Services, Inc. (a)	4,300		$ 4,773
Avery Dennison Corp.	46,663		2,394,745
Barrett Business Services, Inc.	2,508		40,630
Bowne & Co., Inc.	30,535		405,199
Casella Waste Systems, Inc. Class A (a)	27,789		274,833
CBIZ, Inc. (a)	13,495		120,106
CDI Corp.	7,155		162,776
Cenveo, Inc. (a)	19,834		298,303
ChoicePoint, Inc. (a)	38,054		1,841,814
Cintas Corp.	75,810		2,181,812
Clean Harbors, Inc. (a)	7,762		477,518
Comfort Systems USA, Inc.	22,487		267,595
Comsys IT Partners, Inc. (a)	36		339
Consolidated Graphics, Inc. (a)	10,742		571,367
Copart, Inc. (a)	30,252		1,260,298
Cornell Companies, Inc. (a)	1,672		34,794
Corporate Executive Board Co.	16,825		683,263
Corrections Corp. of America (a)	58,372		1,567,872
CoStar Group, Inc. (a)(d)	12,805		531,664
Courier Corp.	2,999		81,603
Covanta Holding Corp. (a)	63,735		1,827,920
CRA International, Inc. (a)	9,397		356,898
Deluxe Corp.	24,238		504,878
Diamond Management & Technology Consultants, Inc.	6,807		40,366
Dun & Bradstreet Corp.	30,301		2,646,489
EnergySolutions, Inc.	15,000		327,000
Ennis, Inc.	10,422		166,335
Equifax, Inc.	66,141		2,263,345
Exponent, Inc. (a)	10,000		291,000
FTI Consulting, Inc. (a)	25,683		1,630,871
Fuel Tech, Inc. (a)(d)	12,102		242,887
G&K Services, Inc. Class A	11,022		421,702
GeoEye, Inc. (a)	16,127		487,197
GP Strategies Corp. (a)	1,600		14,960
Healthcare Services Group, Inc.	26,140		517,049
Heidrick & Struggles International, Inc.	9,533		326,315
Herman Miller, Inc.	27,876		831,541
HNI Corp. (d)	14,125		417,535
Hudson Highland Group, Inc. (a)	6,919		51,547
Huron Consulting Group, Inc. (a)	19,198		1,018,646
ICT Group, Inc. (a)	4,570		39,256
IHS, Inc. Class A (a)	18,231		1,123,941
IKON Office Solutions, Inc.	41,680		296,762
InnerWorkings, Inc. (a)(d)	33,190		457,026
Innotrac Corp. (a)	1,400		4,760
Interface, Inc. Class A	32,273		540,895
Intersections, Inc. (a)	8,825		72,277
Kelly Services, Inc. Class A (non-vtg.)	6,364		122,252
Kenexa Corp. (a)	14,889		301,651
Kforce, Inc. (a)	30,240		258,552
Kimball International, Inc. Class B	18,777		196,220
Knoll, Inc.	22,702		319,644
Korn/Ferry International (a)	27,902		470,428
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - continued
Layne Christensen Co. (a)	17,863		$ 715,235
Learning Tree International, Inc. (a)	3,821		51,431
LECG Corp. (a)	11,382		108,129
M&F Worldwide Corp. (a)	6,880		254,766
Manpower, Inc.	43,348		2,457,832
McGrath RentCorp.	5,971		125,033
Metalico, Inc. (a)	15,943		185,417
Mine Safety Appliances Co.	16,439		659,368
Mobile Mini, Inc. (a)(d)	17,986		334,719
Monster Worldwide, Inc. (a)	63,567		1,690,247
Navigant Consulting, Inc. (a)	31,134		507,796
On Assignment, Inc. (a)	5,613		34,744
PeopleSupport, Inc. (a)(d)	8,359		97,048
PHH Corp. (a)	23,803		481,773
Pike Electric Corp. (a)	13,966		180,580
Pitney Bowes, Inc.	107,839		3,858,479
Protection One, Inc. (a)(d)	1,019		8,926
R.R. Donnelley & Sons Co.	104,534		3,327,317
RCM Technologies, Inc. (a)	1,400		7,434
Republic Services, Inc.	80,085		2,444,995
Resources Connection, Inc.	37,123		597,680
Robert Half International, Inc.	79,214		2,134,817
Rollins, Inc.	31,849		562,135
RSC Holdings, Inc. (d)	36,805		414,792
Schawk, Inc. Class A	4,896		77,112
School Specialty, Inc. (a)	6,351		193,833
Spherion Corp. (a)	36,388		235,794
Spherix, Inc. (a)	2,713		2,903
Standard Register Co.	7,404		63,304
Steelcase, Inc. Class A	20,379		288,974
Stericycle, Inc. (a)	48,426		2,609,677
Superior Uniform Group, Inc.	1,000		9,900
Team, Inc. (a)	16,100		490,889
TeamStaff, Inc. (a)	1,300		910
Teletech Holdings, Inc. (a)	22,443		506,539
Tetra Tech, Inc. (a)	27,267		514,528
The Brink's Co.	20,872		1,396,963
The Geo Group, Inc. (a)	27,497		733,895
TRC Companies, Inc. (a)	5,282		26,780
TrueBlue, Inc. (a)	16,970		211,955
United Stationers, Inc. (a)(d)	13,932		687,684
Viad Corp.	16,478		571,292
Virco Manufacturing Co.	3,120		18,533
Volt Information Sciences, Inc. (a)	2,508		40,304
Waste Connections, Inc. (a)	28,338		860,342
Waste Industries USA, Inc.	5,000		182,950
Waste Management, Inc.	264,789		8,693,023
Watson Wyatt Worldwide, Inc. Class A	21,050		1,116,703
			76,842,851
Construction & Engineering - 0.4%
AECOM Technology Corp.	36,016		933,535
	Shares		Value
EMCOR Group, Inc. (a)	32,086		$ 772,952
Fluor Corp.	45,562		6,344,509
Foster Wheeler Ltd. (a)	73,238		4,793,427
Furmanite Corp. (a)	20,546		225,595
Granite Construction, Inc.	13,617		411,097
Great Lakes Dredge & Dock Corp.	45,451		277,706
Insituform Technologies, Inc. Class A (a)(d)	21,456		299,740
Integrated Electrical Services, Inc. (a)	13,972		241,157
Jacobs Engineering Group, Inc. (a)	60,360		4,846,304
KBR, Inc. (a)	89,334		2,977,502
Michael Baker Corp. (a)	5,000		144,000
Northwest Pipe Co. (a)	12,239		510,856
Orion Marine Group, Inc. (a)	10,000		130,000
Perini Corp. (a)	13,944		522,621
Quanta Services, Inc. (a)	83,667		1,997,968
Shaw Group, Inc. (a)	39,085		2,516,292
URS Corp. (a)	44,139		1,777,919
			29,723,180
Electrical Equipment - 0.7%
A.O. Smith Corp.	12,801		466,340
Active Power, Inc. (a)	10,509		18,916
Acuity Brands, Inc.	21,074		935,896
American Superconductor Corp. (a)(d)	45,910		1,037,107
AMETEK, Inc.	48,541		2,067,361
AZZ, Inc. (a)	2,866		101,514
Baldor Electric Co.	19,489		558,750
Beacon Power Corp. (a)	362		427
Belden, Inc.	19,997		785,882
Brady Corp. Class A	24,363		745,021
C&D Technologies, Inc. (a)(d)	5,300		28,938
Capstone Turbine Corp. (a)(d)	15,524		28,254
Chase Corp.	1,000		23,600
Coleman Cable, Inc. (a)	900		10,629
Cooper Industries Ltd. Class A	102,329		4,290,655
Emerson Electric Co.	415,974		21,198,035
Encore Wire Corp. (d)	8,240		138,020
Energy Conversion Devices, Inc. (a)(d)	21,986		584,168
Energy Focus, Inc. (a)	3,941		19,981
EnerSys (a)	19,892		457,317
Espey Manufacturing & Electronics Corp.	1,488		32,290
Evergreen Solar, Inc. (a)(d)	43,826		421,168
First Solar, Inc. (a)	17,434		3,577,457
Franklin Electric Co., Inc. (d)	16,711		551,129
FuelCell Energy, Inc. (a)(d)	59,982		429,471
General Cable Corp. (a)	24,428		1,507,696
GrafTech International Ltd. (a)	65,885		1,055,478
Hubbell, Inc. Class B	24,391		1,106,620
II-VI, Inc. (a)	14,172		463,991
LSI Industries, Inc.	12,688		168,624
MagneTek, Inc. (a)	3,582		12,215
Medis Technologies Ltd. (a)(d)	4,420		47,869
Microvision, Inc. (a)(d)	3,976		10,020
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Electrical Equipment - continued
Millennium Cell, Inc. (a)	300		$ 63
Nortech Systems, Inc. (a)	1,634		9,363
Plug Power, Inc. (a)(d)	25,662		77,243
Polypore International, Inc.	9,236		165,971
Powell Industries, Inc. (a)	3,702		141,120
Power-One, Inc. (a)(d)	23,022		59,857
PowerSecure International, Inc. (a)(d)	3,463		46,093
Regal-Beloit Corp.	18,753		692,361
Rockwell Automation, Inc.	72,154		3,947,545
Roper Industries, Inc.	46,497		2,622,431
Satcon Technology Corp. (a)(d)	1,200		2,316
SL Industries, Inc. (a)	2,508		49,658
Sunpower Corp. Class A (a)(d)	17,443		1,146,354
Superior Essex, Inc. (a)	23,225		659,126
Tech/Ops Sevcon, Inc.	2,508		19,562
Thomas & Betts Corp. (a)(d)	27,614		1,108,702
Ultralife Batteries, Inc. (a)	600		8,466
UQM Technologies, Inc. (a)	3,800		8,284
Valence Technology, Inc. (a)(d)	12,072		44,304
Valpey Fisher Corp. (a)	2,100		9,975
Vicor Corp.	5,067		61,463
Woodward Governor Co.	36,446		1,041,262
			54,802,358
Industrial Conglomerates - 2.8%
3M Co.	347,318		27,229,731
Carlisle Companies, Inc.	28,438		1,038,840
General Electric Co.	5,287,408		175,224,701
McDermott International, Inc. (a)	115,438		6,028,172
Raven Industries, Inc. (d)	5,617		164,466
Standex International Corp.	6,568		124,858
Teleflex, Inc.	22,935		1,296,974
Textron, Inc.	126,339		6,843,784
Tredegar Corp.	28,430		449,478
Tyco International Ltd.	256,928		10,292,536
Walter Industries, Inc.	24,944		1,362,691
			230,056,231
Machinery - 2.1%
3D Systems Corp. (a)(d)	2,508		36,266
Actuant Corp. Class A	27,018		726,244
AGCO Corp. (a)	46,789		3,034,735
Alamo Group, Inc.	200		3,708
Albany International Corp. Class A	18,400		631,672
Altra Holdings, Inc. (a)	22,128		284,345
American Railcar Industries, Inc.	10,474		260,174
Ampco-Pittsburgh Corp.	6,549		247,945
Astec Industries, Inc. (a)	6,807		257,713
Axsys Technologies, Inc. (a)	2,633		115,852
Badger Meter, Inc.	7,471		285,168
Barnes Group, Inc.	30,587		695,548
Blount International, Inc. (a)	31,035		370,248
	Shares		Value
Briggs & Stratton Corp.	24,714		$ 441,639
Bucyrus International, Inc. Class A	20,139		2,011,483
Cascade Corp.	6,465		289,632
Caterpillar, Inc.	337,073		24,380,490
Chart Industries, Inc. (a)	11,225		385,130
CIRCOR International, Inc.	14,659		667,717
CLARCOR, Inc.	25,118		899,224
Columbus McKinnon Corp. (NY Shares) (a)	8,038		230,208
Commercial Vehicle Group, Inc. (a)	19,815		185,468
Crane Co.	25,960		1,070,331
Cummins, Inc.	92,866		4,678,589
Danaher Corp.	125,757		9,324,882
Deere & Co.	230,695		19,657,521
Donaldson Co., Inc.	29,664		1,250,634
Dover Corp.	107,254		4,452,114
Dynamic Materials Corp.	10,162		579,132
Eaton Corp.	75,240		6,066,601
EnPro Industries, Inc. (a)	12,676		374,322
ESCO Technologies, Inc. (a)(d)	15,486		511,967
Federal Signal Corp.	42,097		508,111
Flanders Corp. (a)(d)	9,957		62,729
Flow International Corp. (a)	28,106		207,141
Flowserve Corp.	27,570		3,002,373
Force Protection, Inc. (a)(d)	28,600		117,546
FreightCar America, Inc.	8,359		335,029
Gardner Denver, Inc. (a)	22,940		846,715
Gehl Co. (a)	10,898		174,695
Gorman-Rupp Co.	10,248		279,770
Graco, Inc.	33,485		1,162,264
Greenbrier Companies, Inc. (d)	4,470		117,472
Hardinge, Inc.	11,551		143,348
Harsco Corp.	46,564		2,630,400
Hirsch International Corp. Class A (a)	900		1,683
Hurco Companies, Inc. (a)	3,204		141,681
IDEX Corp.	36,090		1,088,474
Illinois Tool Works, Inc.	247,097		12,125,050
Ingersoll-Rand Co. Ltd. Class A	143,688		6,014,780
ITT Corp.	96,778		5,442,795
Joy Global, Inc.	53,792		3,570,175
K-Tron International, Inc. (a)	1,000		116,730
Kadant, Inc. (a)	4,460		111,946
Kaydon Corp.	19,607		837,415
Kennametal, Inc.	38,636		1,173,375
L.B. Foster Co. Class A (a)	12,372		524,078
Lincoln Electric Holdings, Inc.	22,247		1,493,664
Lindsay Corp.	11,966		940,767
Manitowoc Co., Inc.	68,127		2,775,494
Middleby Corp. (a)(d)	8,942		608,056
Milacron, Inc. (a)	275		811
Miller Industries, Inc. (a)	360		4,162
Mueller Industries, Inc.	22,488		646,080
Mueller Water Products, Inc. Class B	61,652		536,989
NACCO Industries, Inc. Class A	2,834		229,696
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Machinery - continued
Nordson Corp.	19,922		$ 1,023,792
Omega Flex, Inc.	300		4,500
Oshkosh Co.	34,912		1,398,924
PACCAR, Inc.	190,632		8,269,616
Pall Corp.	62,524		2,461,570
Parker Hannifin Corp.	88,281		5,705,601
Pentair, Inc.	53,217		1,735,939
RBC Bearings, Inc. (a)	25,395		853,272
Robbins & Myers, Inc.	12,478		424,876
SPX Corp.	26,258		2,686,193
Sun Hydraulics Corp.	15,000		325,950
Tecumseh Products Co. Class A (non-vtg.) (a)	21,767		461,025
Tennant Co.	7,549		272,368
Terex Corp. (a)	55,079		3,715,079
Timken Co.	34,205		1,030,597
Titan International, Inc.	15,739		534,969
Toro Co.	18,185		876,153
Trinity Industries, Inc.	46,212		1,301,792
Twin Disc, Inc.	8,348		169,130
Valmont Industries, Inc.	9,929		793,327
Wabash National Corp.	10,432		82,413
Wabtec Corp.	25,638		887,331
Watts Water Technologies, Inc. Class A (d)	14,756		409,036
			167,801,649
Marine - 0.1%
Alexander & Baldwin, Inc. (d)	16,551		728,906
American Commercial Lines, Inc. (a)(d)	16,002		272,034
Eagle Bulk Shipping, Inc. (d)	38,563		1,026,933
Excel Maritime Carriers Ltd. (d)	10,068		320,867
Genco Shipping & Trading Ltd.	11,470		668,357
Horizon Lines, Inc. Class A	12,977		261,746
Kirby Corp. (a)	27,057		1,219,730
OceanFreight, Inc.	15,914		350,585
TBS International Ltd. Class A (a)(d)	8,358		287,850
			5,137,008
Road & Rail - 0.8%
AMERCO (a)(d)	5,493		286,240
Arkansas Best Corp. (d)	14,333		382,834
Avis Budget Group, Inc. (a)	45,638		521,642
Burlington Northern Santa Fe Corp.	160,288		14,070,081
Celadon Group, Inc. (a)	4,374		39,366
Con-way, Inc.	18,726		848,475
Covenant Transport Group, Inc. Class A (a)	2,866		22,555
CSX Corp.	217,547		10,555,380
Dollar Thrifty Automotive Group, Inc. (a)	11,579		166,274
Genesee & Wyoming, Inc. Class A (a)	22,228		689,068
Heartland Express, Inc.	37,647		526,305
Hertz Global Holdings, Inc. (a)	58,554		698,549
	Shares		Value
J.B. Hunt Transport Services, Inc.	46,757		$ 1,279,739
Kansas City Southern (a)(d)	34,820		1,246,556
Knight Transportation, Inc. (d)	37,691		557,450
Landstar System, Inc.	27,002		1,252,353
Marten Transport Ltd. (a)	5,037		72,986
Norfolk Southern Corp.	198,604		10,504,166
Old Dominion Freight Lines, Inc. (a)	16,944		461,724
Quality Distribution, Inc. (a)	633		1,943
Ryder System, Inc.	25,803		1,486,511
Saia, Inc. (a)	3,559		51,428
Union Pacific Corp.	138,232		17,245,824
Werner Enterprises, Inc.	21,388		380,493
YRC Worldwide, Inc. (a)(d)	30,734		422,900
			63,770,842
Trading Companies & Distributors - 0.2%
Aceto Corp.	5,986		41,962
Aircastle Ltd.	24,900		512,940
Applied Industrial Technologies, Inc.	16,649		460,178
Beacon Roofing Supply, Inc. (a)	32,220		275,803
BlueLinx Corp. (d)	10,747		58,464
Electro Rent Corp.	2,627		34,098
Fastenal Co. (d)	72,630		2,953,136
GATX Corp.	22,906		824,158
H&E Equipment Services, Inc. (a)	6,730		104,988
Houston Wire & Cable Co. (d)	12,212		177,074
Huttig Building Products, Inc. (a)	1,077		3,209
Interline Brands, Inc. (a)	23,660		420,438
Kaman Corp.	15,960		383,040
Lawson Products, Inc.	2,164		54,966
MSC Industrial Direct Co., Inc. Class A	24,416		990,801
NuCo2, Inc. (a)	16,938		467,997
Rush Enterprises, Inc. Class A (a)	12,360		183,175
TAL International Group, Inc.	19,431		405,525
UAP Holding Corp. (d)	29,871		1,150,034
United Rentals, Inc. (a)	50,398		1,013,000
W.W. Grainger, Inc.	32,865		2,420,836
Watsco, Inc. (d)	15,220		578,360
WESCO International, Inc. (a)	22,577		903,080
Willis Lease Finance Corp. (a)	1,200		14,880
			14,432,142
Transportation Infrastructure - 0.0%
Macquarie Infrastructure Co. LLC	14,541		487,269
Quixote Corp.	700		9,835
			497,104
TOTAL INDUSTRIALS			906,023,951
INFORMATION TECHNOLOGY - 14.5%
Communications Equipment - 2.2%
3Com Corp. (a)	209,846		690,393
Acme Packet, Inc. (a)	28,974		232,371
ADC Telecommunications, Inc. (a)	65,644		897,353
Adtran, Inc.	22,988		423,439
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Communications Equipment - continued
Alliance Fiber Optic Products, Inc. (a)	2,400		$ 3,720
AltiGen Communications, Inc. (a)	3,200		5,056
Anaren, Inc. (a)	13,791		174,318
Arris Group, Inc. (a)	64,448		370,576
Aruba Networks, Inc.	15,800		88,638
Avanex Corp. (a)	34,921		28,321
Avici Systems, Inc.	2,866		21,982
Avocent Corp. (a)	37,291		623,878
Aware, Inc. (a)	7,998		31,912
Bel Fuse, Inc. Class B (non-vtg.)	8,180		223,069
BigBand Networks, Inc.	20,235		126,064
Black Box Corp.	7,979		247,349
Blonder Tongue Laboratories, Inc. (a)	3,900		6,474
Blue Coat Systems, Inc. (a)	19,836		465,749
Bookham, Inc. (a)	59,145		86,352
Channell Commercial Corp. (a)	800		1,184
Ciena Corp. (a)	41,750		1,078,403
Cisco Systems, Inc. (a)	3,179,805		77,491,848
Comarco, Inc.	450		2,075
CommScope, Inc. (a)	37,340		1,563,799
Communications Systems, Inc.	2,718		30,768
Comtech Telecommunications Corp. (a)	13,730		595,607
Corning, Inc.	805,781		18,718,293
Digi International, Inc. (a)	5,248		55,261
Ditech Networks, Inc. (a)	8,447		23,060
Dycom Industries, Inc. (a)	23,493		268,760
EchoStar Holding Corp. Class A (a)	20,120		806,007
EFJ, Inc. (a)	99		134
EMS Technologies, Inc. (a)	12,115		348,791
Entrada Networks, Inc. (a)	150		0
eOn Communications Corp. (a)	620		285
Extreme Networks, Inc. (a)	81,024		243,882
Ezenia!, Inc. (a)	200		138
F5 Networks, Inc. (a)	41,811		926,532
Finisar Corp. (a)	154,118		248,130
Foundry Networks, Inc. (a)	59,479		706,016
Globecomm Systems, Inc. (a)	3,582		31,557
Harmonic, Inc. (a)	57,982		516,620
Harris Corp.	71,071		3,470,397
Harris Stratex Networks, Inc. Class A (a)	18,880		189,555
Hughes Communications, Inc. (a)	3,000		140,190
Infinera Corp. (d)	35,600		415,808
InterDigital, Inc. (a)(d)	21,198		368,633
ISCO International, Inc. (a)	1,800		360
Ixia (a)	18,466		138,680
JDS Uniphase Corp. (a)	107,503		1,413,664
Juniper Networks, Inc. (a)	272,010		7,295,308
KVH Industries, Inc. (a)	1,838		15,954
Lantronix, Inc. (a)	500		360
Loral Space & Communications Ltd. (a)	7,589		184,109
MasTec, Inc. (a)	15,448		134,552
	Shares		Value
Motorola, Inc.	1,230,682		$ 12,269,900
MRV Communications, Inc. (a)	107,785		172,456
NETGEAR, Inc. (a)	22,719		495,729
Network Engines, Inc. (a)	2,300		3,312
Network Equipment Technologies, Inc. (a)	17,660		100,662
Nextwave Wireless, Inc. (a)(d)	16,900		91,091
NMS Communications Corp. (a)	2,800		3,556
NumereX Corp. Class A (a)	3,105		24,716
Occam Networks, Inc. (a)	85		493
Oplink Communications, Inc. (a)	2,767		34,394
Opnext, Inc.	11,814		54,581
Optelecom Nkf, Inc. (a)	529		3,962
Optical Cable Corp. (a)	656		2,696
ORBCOMM, Inc. (a)(d)	23,301		132,816
Packeteer, Inc. (a)	5,266		23,539
Parkervision, Inc. (a)(d)	17,441		151,562
PC-Tel, Inc. (a)	2,627		17,548
Pegasus Wireless Corp. warrants 8/11/08 (a)	1,700		0
Performance Technologies, Inc. (a)	3,463		16,241
Plantronics, Inc.	29,154		549,844
Polycom, Inc. (a)	45,009		981,196
Powerwave Technologies, Inc. (a)	103,954		297,308
Proxim Wireless Corp. (a)	610		604
QUALCOMM, Inc.	851,845		36,092,673
Riverbed Technology, Inc. (a)	27,694		555,542
SCM Microsystems, Inc. (a)	600		1,788
SeaChange International, Inc. (a)	5,553		32,763
Sonus Networks, Inc. (a)(d)	127,839		424,425
Starent Networks Corp. (d)	17,710		278,578
Sycamore Networks, Inc. (a)	161,765		564,560
Symmetricom, Inc. (a)	9,258		31,662
Tekelec (a)	39,611		471,767
Tellabs, Inc. (a)	242,872		1,598,098
Telular Corp. (a)	2,100		7,392
Tollgrade Communications, Inc. (a)	2,548		14,065
UTStarcom, Inc. (a)(d)	75,765		213,657
Veramark Technologies, Inc. (a)	2,300		1,840
ViaSat, Inc. (a)	15,135		317,381
Vyyo, Inc. (a)(d)	1,133		1,643
Wegener Corp. (a)	3,500		3,220
Westell Technologies, Inc. Class A (a)	4,212		7,413
WJ Communications, Inc. (a)	3,700		2,664
Zhone Technologies, Inc. (a)	52,590		56,797
			178,277,868
Computers & Peripherals - 3.5%
ActivIdentity Corp. (a)	55,312		169,808
Adaptec, Inc. (a)	86,311		228,724
Apple, Inc. (a)	456,845		57,114,762
Astro-Med, Inc.	5,359		52,465
Avid Technology, Inc. (a)(d)	17,853		435,078
Brocade Communications Systems, Inc. (a)(d)	189,881		1,460,185
Concurrent Computer Corp. (a)	11,487		9,190
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Computers & Peripherals - continued
Cray, Inc. (a)	27,805		$ 130,962
Data Domain, Inc.	14,767		313,651
Datalink Corp. (a)	2,627		10,639
Dataram Corp.	3,881		12,730
Dell, Inc. (a)	1,039,379		20,631,673
Diebold, Inc.	32,819		791,594
Dot Hill Systems Corp. (a)	5,816		20,821
Electronics for Imaging, Inc. (a)	26,182		394,301
EMC Corp. (a)	1,105,649		17,181,785
Emulex Corp. (a)	47,139		701,428
FOCUS Enhancements, Inc. (a)	5,500		2,151
Hauppauge Digital, Inc. (a)	500		2,150
Hewlett-Packard Co.	1,345,622		64,280,363
Hutchinson Technology, Inc. (a)	11,789		198,055
Hypercom Corp. (a)	9,287		34,455
Imation Corp.	17,514		394,941
Immersion Corp. (a)	36,085		304,197
InFocus Corp. (a)	6,448		11,542
Innovex, Inc. (a)	1,500		480
Intermec, Inc. (a)(d)	33,285		733,601
International Business Machines Corp.	714,494		81,352,287
Interphase Corp. (a)	2,276		12,973
Intevac, Inc. (a)	15,683		201,370
Iomega Corp. (a)	8,216		25,059
LaserCard Corp. (a)	2,369		21,984
Lexmark International, Inc. Class A (a)(d)	47,239		1,560,304
MidgardXXI, Inc. (a)	10		0
Mobility Electronics, Inc. (a)	6,906		9,392
NCR Corp. (a)	102,146		2,263,555
Network Appliance, Inc. (a)	196,352		4,245,130
Novatel Wireless, Inc. (a)	24,485		259,051
Overland Storage, Inc. (a)	2,079		2,786
Palm, Inc. (d)	46,540		301,114
Presstek, Inc. (a)	8,481		39,861
QLogic Corp. (a)	65,838		1,043,532
Quantum Corp. (a)	145,293		363,233
Rackable Systems, Inc. (a)	10,523		97,233
Rimage Corp. (a)	7,000		161,140
SanDisk Corp. (a)	122,973		2,896,014
Scan-Optics, Inc. (a)	300		0
Seagate Technology	272,525		5,878,364
Socket Communications, Inc. (a)	3,300		2,409
STEC, Inc. (a)	9,195		66,940
Stratasys, Inc. (a)	11,359		213,095
Sun Microsystems, Inc. (a)	440,497		7,224,151
Synaptics, Inc. (a)	15,141		405,627
Teradata Corp. (a)	100,764		2,542,276
Video Display Corp. (a)	3,439		27,134
ViewCast.com, Inc. (a)	13,700		3,836
Western Digital Corp. (a)	109,148		3,369,399
			280,210,980
	Shares		Value
Electronic Equipment & Instruments - 0.6%
Acacia Research Corp. - Acacia Technologies (a)(d)	35,320		$ 230,640
Advanced Photonix, Inc. Class A (a)(d)	5,286		7,929
Aetrium, Inc. (a)	2,400		11,256
Agilent Technologies, Inc. (a)	201,937		6,181,292
Agilysys, Inc.	29,574		374,703
Allied Motion Technologies, Inc. (a)	4,896		24,039
American Technology Corp. (a)	900		1,872
Amphenol Corp. Class A	87,374		3,230,217
Anixter International, Inc. (a)(d)	15,510		1,014,199
Arrow Electronics, Inc. (a)	57,612		1,878,727
Avnet, Inc. (a)	77,453		2,610,941
AVX Corp.	28,540		357,892
Axcess, Inc. (a)	1,600		2,224
Bell Industries, Inc. (a)(d)	8,598		6,878
Bell Microproducts, Inc. (a)	4,156		13,923
Benchmark Electronics, Inc. (a)	29,979		503,647
Brightpoint, Inc. (a)	34,802		359,853
CalAmp Corp. (a)	3,621		9,885
Checkpoint Systems, Inc. (a)	15,045		364,089
Clearfield, Inc. (a)	2,800		2,772
Cogent, Inc. (a)	35,833		358,330
Cognex Corp.	28,237		545,821
CTS Corp.	21,333		206,930
CyberOptics Corp. (a)	850		8,857
Daktronics, Inc. (d)	18,380		317,606
Dolby Laboratories, Inc. Class A (a)	26,681		1,180,634
DTS, Inc. (a)(d)	18,993		462,100
Echelon Corp. (a)(d)	24,222		272,013
Electro Scientific Industries, Inc. (a)	25,174		407,567
En Pointe Technologies, Inc. (a)	1,400		3,318
Entorian Technologies, Inc. (a)	558		787
Excel Technology, Inc. (a)	12,952		333,903
FARO Technologies, Inc. (a)	4,416		144,624
FLIR Systems, Inc. (a)	71,716		2,041,037
Frequency Electronics, Inc.	500		4,295
Gerber Scientific, Inc. (a)	4,538		39,481
Giga-Tronics, Inc. (a)	3,000		4,440
GTSI Corp. (a)	2,376		19,531
IEC Electronics Corp. (a)	100		172
Ingram Micro, Inc. Class A (a)	73,699		1,125,384
InPlay Technologies, Inc. (a)	1,500		1,515
Insight Enterprises, Inc. (a)	30,442		533,648
IPG Photonics Corp. (a)	11,815		201,682
Iteris, Inc. (a)	1,200		3,240
Itron, Inc. (a)(d)	13,943		1,329,186
Jabil Circuit, Inc.	80,844		1,044,504
Jaco Electronics, Inc. (a)	1,950		2,301
Keithley Instruments, Inc.	11,433		103,469
KEMET Corp. (a)(d)	62,217		308,596
L-1 Identity Solutions, Inc. (a)(d)	39,828		476,343
LeCroy Corp. (a)	2,030		16,017
LightPath Technologies, Inc. Class A (a)	437		817
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Electronic Equipment & Instruments - continued
Littelfuse, Inc. (a)	19,009		$ 592,511
LoJack Corp. (a)	4,299		53,652
Maxwell Technologies, Inc. (a)(d)	1,314		13,679
MDI, Inc. (a)	3,700		2,035
Measurement Specialties, Inc. (a)	3,947		69,980
Mechanical Technology, Inc. (a)	4,800		3,408
Mercury Computer Systems, Inc. (a)	16,844		107,970
Merix Corp. (a)	1,450		3,944
Merrimac Industries, Inc. (a)	500		3,525
Mesa Laboratories, Inc.	2,540		60,960
Methode Electronics, Inc. Class A	32,238		343,335
Mettler-Toledo International, Inc. (a)	17,705		1,729,779
Micronetics, Inc. (a)	1,137		9,312
MOCON, Inc.	2,570		27,730
Molex, Inc.	66,943		1,508,226
MTS Systems Corp.	10,980		342,466
Multi-Fineline Electronix, Inc. (a)	2,695		57,323
National Instruments Corp.	25,922		670,343
Newport Corp. (a)	27,067		284,474
Nexxus Lighting, Inc. (a)	2,100		12,075
NU Horizons Electronics Corp. (a)	4,122		24,485
OSI Systems, Inc. (a)	12,633		267,188
Park Electrochemical Corp.	11,387		268,164
PC Connection, Inc. (a)	2,687		26,682
Photon Dynamics, Inc. (a)	2,665		27,583
Planar Systems, Inc. (a)	2,649		12,344
Plexus Corp. (a)	30,922		765,938
RadiSys Corp. (a)	4,060		38,611
Research Frontiers, Inc. (a)(d)	2,000		15,100
Richardson Electronics Ltd.	2,923		12,627
Rofin-Sinar Technologies, Inc. (a)	19,978		786,534
Rogers Corp. (a)	16,541		524,019
Sanmina-SCI Corp. (a)	238,408		393,373
ScanSource, Inc. (a)	12,961		440,285
SMART Modular Technologies (WWH), Inc. (a)	9,803		65,092
Spectrum Control, Inc. (a)	1,791		16,137
StockerYale, Inc. (a)	1,200		768
SYNNEX Corp. (a)	6,678		138,969
Tech Data Corp. (a)	35,292		1,176,988
Technitrol, Inc.	21,812		480,082
Trimble Navigation Ltd. (a)	65,715		1,796,648
TTM Technologies, Inc. (a)	23,411		257,989
Tyco Electronics Ltd.	251,825		8,285,043
Universal Display Corp. (a)(d)	21,705		369,853
Vishay Intertechnology, Inc. (a)	82,602		754,156
X-Rite, Inc. (a)	29,750		243,653
Zones, Inc. (a)	4,777		44,331
Zygo Corp. (a)	11,433		145,656
			51,960,151
	Shares		Value
Internet Software & Services - 1.4%
Akamai Technologies, Inc. (a)	84,726		$ 2,978,966
Ariba, Inc. (a)(d)	57,748		515,112
Art Technology Group, Inc. (a)	66,310		224,128
Autobytel, Inc. (a)	6,680		18,036
Bankrate, Inc. (a)(d)	10,845		458,310
Chordiant Software, Inc. (a)	6,787		39,093
CMGI, Inc. (a)	27,194		312,459
CNET Networks, Inc. (a)(d)	69,923		507,641
Communication Intelligence Corp. (a)	3,800		703
DealerTrack Holdings, Inc. (a)	17,942		367,273
deltathree, Inc. (a)	500		205
Digital River, Inc. (a)	16,478		537,677
DivX, Inc. (a)(d)	15,267		150,075
EarthLink, Inc. (a)	92,443		668,363
EasyLink Services International Corp. (a)	600		1,692
eBay, Inc. (a)	617,732		16,283,416
Entrust, Inc. (a)	15,334		38,488
Equinix, Inc. (a)(d)	15,337		1,063,621
Google, Inc. Class A (sub. vtg.) (a)	118,538		55,852,735
Greenfield Online, Inc. (a)	3,702		50,088
I-Many, Inc. (a)	5,700		15,846
iBasis, Inc.	13,800		56,028
iMergent, Inc. (d)	7,660		84,260
InfoSpace, Inc.	22,445		228,715
Innodata Isogen, Inc. (a)	10,986		60,423
Internap Network Services Corp. (a)(d)	31,452		220,164
Internet America, Inc. (a)	4,200		3,024
Internet Capital Group, Inc. (a)	38,165		332,036
Interwoven, Inc. (a)	35,357		479,087
iPass, Inc. (a)	26,101		72,561
j2 Global Communications, Inc. (a)(d)	26,750		575,660
Jupiter Media Metrix, Inc. (a)	4,711		0
Jupitermedia Corp. (a)	1,200		3,948
Keynote Systems, Inc. (a)(d)	20,911		226,675
Liquidity Services, Inc. (a)	10,000		96,700
LoopNet, Inc. (a)(d)	11,319		135,488
Marchex, Inc. Class B (d)	7,407		65,404
MIVA, Inc. (a)	3,079		6,466
Move, Inc. (a)	41,866		105,084
NaviSite, Inc. (a)	344		1,397
NIC, Inc.	5,017		30,202
Omniture, Inc. (a)(d)	33,791		776,517
On2.Com, Inc. (a)(d)	22,666		24,253
Online Resources Corp. (a)	30,570		313,037
Onstream Media Corp. (a)	206		161
Openwave Systems, Inc.	28,230		58,154
Optio Software, Inc. (a)	3,000		3,750
Perficient, Inc. (a)	16,992		143,582
RealNetworks, Inc. (a)	49,719		290,856
S1 Corp. (a)	50,691		358,892
Saba Software, Inc. (a)	3,088		10,530
SAVVIS, Inc. (a)(d)	16,067		312,182
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Internet Software & Services - continued
Selectica, Inc. (a)	6,434		$ 9,458
SonicWALL, Inc. (a)	60,735		505,923
Supportsoft, Inc. (a)	12,011		42,159
Switch & Data Facilities Co., Inc.	16,274		170,063
Terremark Worldwide, Inc. (a)	7,893		39,465
The Knot, Inc. (a)(d)	15,066		174,012
The Sedona Corp. (a)	6,100		738
TheStreet.com, Inc.	4,299		38,949
Tumbleweed Communications Corp. (a)	1,858		2,378
United Online, Inc.	31,705		316,416
ValueClick, Inc. (a)	52,554		1,014,818
VeriSign, Inc. (a)	122,659		4,268,533
Vignette Corp. (a)	23,657		299,261
VistaPrint Ltd. (a)(d)	23,150		727,373
Vocus, Inc. (a)	13,408		329,300
WebMD Health Corp. Class A (a)(d)	8,782		244,667
Websense, Inc. (a)	27,212		529,818
Website Pros, Inc. (a)	761		8,401
Yahoo!, Inc. (a)	662,450		18,402,861
Zix Corp. (a)(d)	10,905		42,748
			112,326,504
IT Services - 1.2%
Accenture Ltd. Class A	293,452		10,344,183
Acxiom Corp.	35,587		452,311
Affiliated Computer Services, Inc. Class A (a)	51,190		2,597,893
Alliance Data Systems Corp. (a)(d)	44,989		2,277,793
Applied Digital Solutions, Inc. (a)	2,397		1,990
Automatic Data Processing, Inc.	272,810		10,898,760
BearingPoint, Inc. (a)	179,257		290,396
Broadridge Financial Solutions, Inc.	69,826		1,337,168
CACI International, Inc. Class A (a)	15,702		685,549
Ciber, Inc. (a)	37,145		170,867
Cognizant Technology Solutions Corp. Class A (a)	152,604		4,610,167
Computer Sciences Corp. (a)	91,349		3,969,114
Convergys Corp. (a)	67,686		977,386
CSG Systems International, Inc. (a)	20,682		234,741
CSP, Inc. (a)	4,299		26,138
CyberSource Corp. (a)	60,885		889,530
DST Systems, Inc. (a)(d)	22,971		1,613,942
Edgewater Technology, Inc. (a)	3,344		20,064
Electronic Data Systems Corp.	272,029		4,711,542
eLoyalty Corp. (a)	5,011		51,363
ePresence, Inc. (a)	600		0
Euronet Worldwide, Inc. (a)(d)	26,723		577,217
Fidelity National Information Services, Inc.	100,351		4,163,563
Fiserv, Inc. (a)	85,367		4,492,012
Forrester Research, Inc. (a)	9,538		254,092
Gartner, Inc. Class A (a)	46,439		878,161
	Shares		Value
Genpact Ltd. (d)	29,700		$ 452,925
Gevity HR, Inc.	6,603		46,089
Global Cash Access Holdings, Inc. (a)	20,102		105,938
Global Payments, Inc.	41,747		1,656,103
Hackett Group, Inc. (a)	2,704		10,951
Heartland Payment Systems, Inc. (d)	15,286		336,751
Hewitt Associates, Inc. Class A (a)	49,424		1,950,271
iGate Corp. (a)	5,233		41,445
infoUSA, Inc.	18,601		141,554
Integral Systems, Inc.	3,548		86,358
Iron Mountain, Inc. (a)	97,440		2,930,995
Lionbridge Technologies, Inc. (a)	21,896		77,731
ManTech International Corp. Class A (a)	8,762		386,229
MasterCard, Inc. Class A (d)	36,790		6,990,100
Maximus, Inc.	18,351		666,508
Metavante Holding Co. (a)	59,150		1,281,781
MoneyGram International, Inc.	39,244		143,633
MPS Group, Inc. (a)	54,337		619,442
NeuStar, Inc. Class A (a)	32,307		828,998
New Century Equity Holdings Corp. (a)	1,200		192
Paychex, Inc.	175,519		5,521,828
Perot Systems Corp. Class A (a)	49,211		678,620
PFSweb, Inc. (a)	9,924		9,726
RightNow Technologies, Inc. (a)	14,127		161,472
Safeguard Scientifics, Inc. (a)	143,814		221,474
SAIC, Inc. (a)	70,979		1,352,860
Sapient Corp. (a)	39,014		287,923
SI International, Inc. (a)	2,710		67,425
SM&A (a)	4,601		28,480
SRA International, Inc. Class A (a)	17,782		426,768
StarTek, Inc. (a)	2,269		19,536
Storage Engine, Inc. (a)	434		0
Sykes Enterprises, Inc. (a)	17,284		290,198
Syntel, Inc.	6,687		182,087
Technology Solutions Co. (a)	455		1,188
The Management Network Group, Inc. (a)	1,200		2,568
The Western Union Co.	391,708		8,147,526
TNS, Inc.	21,195		378,331
Total System Services, Inc.	99,758		2,217,620
TSR, Inc.	100		420
Unisys Corp. (a)	180,117		743,883
VeriFone Holdings, Inc. (a)(d)	28,844		595,629
Wright Express Corp. (a)	24,382		705,615
			97,321,113
Office Electronics - 0.1%
Xerox Corp.	482,291		7,089,678
Zebra Technologies Corp. Class A (a)	32,763		1,091,663
			8,181,341
Semiconductors & Semiconductor Equipment - 2.3%
8X8, Inc. (a)(d)	1,000		1,050
Actel Corp. (a)	19,572		231,928
Advanced Analogic Technologies, Inc. (a)	28,971		188,312
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Advanced Energy Industries, Inc. (a)	22,632		$ 290,142
Advanced Micro Devices, Inc. (a)(d)	325,938		2,350,013
AEHR Test Systems (a)	3,637		26,550
Altera Corp.	179,824		3,076,789
AMIS Holdings, Inc. (a)	47,864		326,432
Amkor Technology, Inc. (a)	62,259		729,053
Amtech Systems, Inc. (a)	4,180		52,125
ANADIGICS, Inc. (a)(d)	46,131		324,762
Analog Devices, Inc.	158,464		4,265,851
Applied Materials, Inc.	717,344		13,751,484
Applied Micro Circuits Corp. (a)	44,590		331,304
Asyst Technologies, Inc. (a)	6,605		23,250
Atheros Communications, Inc. (a)	27,181		661,042
Atmel Corp. (a)	218,380		709,735
ATMI, Inc. (a)	20,924		572,062
Axcelis Technologies, Inc. (a)	26,723		153,657
AXT, Inc. (a)	6,090		33,617
Broadcom Corp. Class A (a)	245,898		4,649,931
Brooks Automation, Inc. (a)	54,086		545,187
Cabot Microelectronics Corp. (a)	8,009		268,221
California Micro Devices Corp. (a)	1,400		4,480
Cavium Networks, Inc.	9,400		133,668
Centillium Communications, Inc. (a)	3,503		2,487
Ceva, Inc. (a)	3,705		31,604
Cirrus Logic, Inc. (a)	72,913		374,773
Cohu, Inc.	4,269		66,767
Conexant Systems, Inc. (a)	158,040		83,761
Credence Systems Corp. (a)	36,936		52,449
Cree, Inc. (a)(d)	40,710		1,257,939
Cymer, Inc. (a)	13,274		376,052
Cypress Semiconductor Corp. (a)	79,488		1,728,069
Diodes, Inc. (a)	14,662		330,921
DSP Group, Inc. (a)	29,152		338,163
Electroglas, Inc. (a)	5,581		9,599
EMCORE Corp. (a)(d)	20,567		227,265
Entegris, Inc. (a)	50,797		358,119
ESS Technology, Inc. (a)	6,403		9,733
Exar Corp. (a)	31,629		248,604
Fairchild Semiconductor International, Inc. (a)	82,940		924,781
FEI Co. (a)	16,764		341,818
FormFactor, Inc. (a)	20,616		369,645
FSI International, Inc. (a)	5,015		8,174
Hi/fn, Inc. (a)	1,922		10,552
Hittite Microwave Corp. (a)	10,757		356,164
Ibis Technology Corp. (a)	2,229		847
Ikanos Communications, Inc. (a)	40,760		185,866
Integrated Device Technology, Inc. (a)	92,539		776,402
Integrated Silicon Solution, Inc. (a)	3,011		17,976
Intel Corp.	3,037,338		60,594,893
International Rectifier Corp. (a)	34,327		781,626
	Shares		Value
Intersil Corp. Class A	65,238		$ 1,518,088
Intest Corp. (a)	2,530		5,414
IXYS Corp. (a)	4,418		31,147
KLA-Tencor Corp.	92,111		3,869,583
Kopin Corp. (a)	11,225		30,532
Kulicke & Soffa Industries, Inc. (a)(d)	45,820		235,973
Lam Research Corp. (a)	61,735		2,484,216
Lattice Semiconductor Corp. (a)	90,325		233,039
Leadis Technology, Inc. (a)	8,517		16,864
Linear Technology Corp.	129,395		3,585,535
LSI Corp. (a)(d)	372,637		1,878,090
LTX Corp. (a)	9,783		31,795
Marvell Technology Group Ltd. (a)	247,779		2,802,380
Mattson Technology, Inc. (a)	45,794		272,016
MEMC Electronic Materials, Inc. (a)	118,701		9,054,512
Micrel, Inc.	15,707		115,446
Micro Component Technology, Inc. (a)	4,500		473
Microchip Technology, Inc.	106,117		3,266,281
Micron Technology, Inc. (a)	382,523		2,876,573
Microsemi Corp. (a)	28,237		614,155
Microtune, Inc. (a)	70,701		356,333
Mindspeed Technologies, Inc. (a)	30,106		17,461
MIPS Technologies, Inc. (a)	7,762		28,797
MKS Instruments, Inc. (a)	29,413		590,907
Monolithic Power Systems, Inc. (a)	16,235		270,150
MoSys, Inc. (a)	5,107		24,003
Nanometrics, Inc. (a)	800		5,096
National Semiconductor Corp.	141,597		2,332,103
NeoMagic Corp. (a)	200		264
Netlogic Microsystems, Inc. (a)(d)	7,321		172,776
Novellus Systems, Inc. (a)	55,668		1,229,149
NVIDIA Corp. (a)	296,166		6,334,991
Omnivision Technologies, Inc. (a)(d)	19,209		304,655
ON Semiconductor Corp. (a)	185,264		1,111,584
PDF Solutions, Inc. (a)	5,015		28,586
Pericom Semiconductor Corp. (a)	20,374		271,585
Photronics, Inc. (a)	15,942		160,536
Pixelworks, Inc. (a)	6,687		5,082
PLX Technology, Inc. (a)	4,640		29,974
PMC-Sierra, Inc. (a)	94,508		452,693
QuickLogic Corp. (a)	5,724		17,115
Rambus, Inc. (a)(d)	45,568		821,591
Ramtron International Corp. (a)	5,613		22,003
RF Micro Devices, Inc. (a)(d)	130,039		409,623
Rudolph Technologies, Inc. (a)	4,324		37,662
Semitool, Inc. (a)(d)	5,613		44,118
Semtech Corp. (a)	46,483		592,193
Sigma Designs, Inc. (a)(d)	14,725		433,651
SigmaTel, Inc. (a)	4,765		13,866
Silicon Image, Inc. (a)	50,890		233,076
Silicon Laboratories, Inc. (a)	26,967		834,629
Silicon Storage Technology, Inc. (a)	22,297		63,101
SiRF Technology Holdings, Inc. (a)(d)	35,595		230,300
Skyworks Solutions, Inc. (a)	76,048		628,156
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Spansion, Inc. Class A (a)	79,603		$ 218,908
SRS Labs, Inc. (a)	3,224		14,186
Standard Microsystems Corp. (a)	15,940		451,899
Supertex, Inc. (a)	2,545		52,682
Techwell, Inc. (a)	12,000		119,760
Tegal Corp. (a)	508		2,733
Teradyne, Inc. (a)	98,103		1,176,255
Tessera Technologies, Inc. (a)	22,178		522,514
Texas Instruments, Inc.	723,839		21,686,216
Transwitch Corp. (a)	17,260		11,219
Trident Microsystems, Inc. (a)	25,747		128,478
Trio-Tech International	4,299		23,000
TriQuint Semiconductor, Inc. (a)	118,241		558,098
Ultra Clean Holdings, Inc. (a)	15,000		144,000
Ultratech, Inc. (a)(d)	32,001		308,170
Varian Semiconductor Equipment Associates, Inc. (a)	37,650		1,271,817
Veeco Instruments, Inc. (a)(d)	23,319		361,445
Virage Logic Corp. (a)	3,759		24,133
Volterra Semiconductor Corp. (a)	6,029		52,151
White Electronic Designs Corp. (a)	3,800		15,922
Xilinx, Inc.	157,820		3,528,855
Zoran Corp. (a)	21,434		294,289
			185,562,345
Software - 3.2%
ACI Worldwide, Inc. (d)	15,442		272,706
Activision, Inc. (a)	145,195		3,956,564
Actuate Corp. (a)	53,146		255,101
Adept Technology, Inc. (a)	680		6,202
Adobe Systems, Inc. (a)	296,992		9,993,781
Advent Software, Inc. (a)	15,807		710,367
American Software, Inc. Class A	4,418		37,553
Ansoft Corp. (a)	13,571		330,047
Ansys, Inc. (a)	38,619		1,443,192
ARI Network Services, Inc. (a)	2,800		4,984
Aspen Technology, Inc. (a)	34,011		380,923
Atari, Inc. (a)	3,436		5,635
Authentidate Holding Corp. (a)	1,900		1,349
Autodesk, Inc. (a)	120,492		3,746,096
BEA Systems, Inc. (a)	213,139		4,064,561
Bitstream, Inc. Class A (a)	6,051		32,070
Blackbaud, Inc.	31,757		830,128
Blackboard, Inc. (a)	20,402		586,966
BMC Software, Inc. (a)	99,139		3,200,207
Borland Software Corp. (a)	26,015		50,729
Bottomline Technologies, Inc. (a)	26,416		339,181
BSQUARE Corp. (a)	300		1,296
CA, Inc.	216,168		4,945,924
Cadence Design Systems, Inc. (a)	132,933		1,411,748
CAM Commerce Solutions, Inc.	2,747		103,507
Captaris, Inc. (a)	8,598		29,835
	Shares		Value
Catapult Communications Corp. (a)	1,791		$ 11,176
Citrix Systems, Inc. (a)	100,680		3,315,392
CommVault Systems, Inc. (a)	18,589		260,246
Compuware Corp. (a)	152,129		1,210,947
Concur Technologies, Inc. (a)	23,704		693,105
Convera Corp. Class A (a)(d)	2,323		4,414
Datawatch Corp. (a)	2,268		7,825
Digimarc Corp. (a)	1,730		15,518
Double-Take Software, Inc. (a)	15,000		155,850
Dynamics Research Corp. (a)	2,841		27,444
Electronic Arts, Inc. (a)	168,962		7,990,213
Epicor Software Corp. (a)	38,816		429,693
EPIQ Systems, Inc. (a)	26,916		366,058
eSpeed, Inc. Class A (a)	20,678		240,072
FactSet Research Systems, Inc.	24,894		1,310,420
Fair Isaac Corp.	24,213		561,742
FalconStor Software, Inc. (a)(d)	18,520		154,086
GSE Systems, Inc. (a)	452		4,656
i2 Technologies, Inc. (a)(d)	13,978		181,714
Informatica Corp. (a)	51,545		899,976
Interactive Intelligence, Inc. (a)	2,508		35,764
Intervoice, Inc. (a)	13,560		95,869
Intuit, Inc. (a)	161,676		4,294,115
Jack Henry & Associates, Inc.	33,952		798,891
JDA Software Group, Inc. (a)	27,990		477,789
Lawson Software, Inc. (a)(d)	80,623		628,859
Macrovision Corp. (a)(d)	27,780		424,756
Magma Design Automation, Inc. (a)	31,318		307,543
Manhattan Associates, Inc. (a)	9,371		206,724
McAfee, Inc. (a)	82,388		2,741,049
Mentor Graphics Corp. (a)	54,371		494,776
MICROS Systems, Inc. (a)(d)	45,614		1,461,473
Microsoft Corp.	4,365,232		118,821,615
MicroStrategy, Inc. Class A (a)	4,892		325,416
Midway Games, Inc. (a)(d)	8,708		17,416
Moldflow Corp. (a)	3,162		52,679
MSC.Software Corp. (a)	32,093		406,618
Napster, Inc. (a)	4,053		7,458
NAVTEQ Corp. (a)	50,326		3,771,934
NetManage, Inc. (a)	1,157		5,496
NetScout Systems, Inc. (a)	9,157		85,069
NetSol Technologies, Inc. (a)	20		40
Novell, Inc. (a)	180,628		1,345,679
Nuance Communications, Inc. (a)	72,397		1,190,931
Opnet Technologies, Inc. (a)	5,444		43,334
Oracle Corp. (a)	2,049,473		38,530,092
Parametric Technology Corp. (a)	48,969		749,715
Peerless Systems Corp. (a)	200		400
Pegasystems, Inc.	4,263		40,072
Pervasive Software, Inc. (a)	4,889		18,725
Phoenix Technologies Ltd. (a)	3,582		59,139
Plato Learning, Inc. (a)	2,149		8,166
Progress Software Corp. (a)	21,807		622,372
QAD, Inc.	4,871		42,573
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - continued
Quality Systems, Inc.	16,154		$ 526,297
Quest Software, Inc. (a)	35,867		510,387
Radiant Systems, Inc. (a)	15,620		223,054
Red Hat, Inc. (a)	95,169		1,696,863
Renaissance Learning, Inc.	5,254		69,143
Salesforce.com, Inc. (a)	52,701		3,147,304
Secure Computing Corp. (a)	45,298		367,820
Smith Micro Software, Inc. (a)	4,403		22,543
Solera Holdings, Inc.	26,853		637,222
Sonic Foundry, Inc. (a)	1,800		1,350
Sonic Solutions, Inc. (a)(d)	21,391		193,161
Sourcefire, Inc.	3,343		20,058
SourceForge, Inc. (a)	13,735		23,624
SPSS, Inc. (a)	15,992		608,176
StorageNetworks, Inc. (a)	13,600		0
SumTotal Systems, Inc. (a)	682		3,096
Sybase, Inc. (a)	42,171		1,122,592
Symantec Corp. (a)	449,328		7,566,684
Synchronoss Technologies, Inc. (a)(d)	14,204		228,400
Synopsys, Inc. (a)	71,080		1,649,767
Synplicity, Inc. (a)	300		1,665
Take-Two Interactive Software, Inc. (a)(d)	40,097		1,062,571
Taleo Corp. Class A (a)	14,135		269,413
THQ, Inc. (a)	27,897		521,953
TIBCO Software, Inc. (a)	106,205		748,745
Tyler Technologies, Inc. (a)	34,991		484,625
Ultimate Software Group, Inc. (a)	18,927		515,950
Vasco Data Security International, Inc. (a)	22,415		247,910
Versant Corp. (a)	320		9,245
Vertical Communications, Inc. (a)	533		265
VMware, Inc. Class A (d)	17,702		1,038,576
Voxware, Inc. (a)	63		299
Wave Systems Corp. Class A (a)	700		903
Wayside Technology Group, Inc.	1,433		14,402
Wind River Systems, Inc. (a)	35,161		254,214
			256,482,023
TOTAL INFORMATION TECHNOLOGY			1,170,322,325
MATERIALS - 3.9%
Chemicals - 2.0%
A. Schulman, Inc.	16,718		341,716
Air Products & Chemicals, Inc.	103,822		9,482,063
Airgas, Inc.	33,457		1,625,676
Albemarle Corp.	37,737		1,431,742
American Pacific Corp. (a)	800		12,888
American Vanguard Corp.	9,611		145,222
Arch Chemicals, Inc.	12,054		420,805
Ashland, Inc.	24,529		1,083,446
Atlantis Plastics, Inc. Class A (a)	600		306
	Shares		Value
Balchem Corp.	13,014		$ 260,801
Cabot Corp.	29,997		821,918
Calgon Carbon Corp. (a)(d)	38,444		628,175
Celanese Corp. Class A	78,977		3,072,205
CF Industries Holdings, Inc.	26,664		3,255,141
Chemtura Corp.	109,513		904,577
Cytec Industries, Inc.	18,266		1,046,276
Dow Chemical Co.	489,925		18,465,273
E.I. du Pont de Nemours & Co.	473,711		21,989,665
Eastman Chemical Co.	40,350		2,655,434
Ecolab, Inc.	92,720		4,338,369
Eden Bioscience Corp. (a)	930		1,302
Ferro Corp.	18,316		294,888
Flotek Industries, Inc. (a)	12,942		294,172
FMC Corp.	36,061		2,041,413
GenTek, Inc. (a)	4,202		115,555
Georgia Gulf Corp. (d)	20,139		122,042
H.B. Fuller Co.	28,660		652,015
Hawkins, Inc.	6,199		91,497
Hercules, Inc.	60,854		1,114,845
Huntsman Corp.	41,802		1,008,682
ICO, Inc. (a)	28,426		221,439
International Flavors & Fragrances, Inc.	35,455		1,529,174
Koppers Holdings, Inc.	8,700		363,399
Kronos Worldwide, Inc.	87		1,610
Landec Corp. (a)	21,495		201,623
LSB Industries, Inc. (a)	15,233		363,307
Lubrizol Corp.	34,964		2,038,401
Material Sciences Corp. (a)	1,552		11,454
Minerals Technologies, Inc.	16,405		988,893
Monsanto Co.	283,158		32,755,717
Nalco Holding Co.	71,970		1,554,552
Nanophase Technologies Corp. (a)	4,415		14,084
NewMarket Corp.	8,586		574,833
NL Industries, Inc.	6,360		69,070
Olin Corp.	40,214		772,913
OM Group, Inc. (a)	16,631		1,006,674
OMNOVA Solutions, Inc. (a)	3,702		14,438
Penford Corp.	7,525		164,722
PolyOne Corp. (a)	34,189		222,229
PPG Industries, Inc.	85,558		5,302,885
Praxair, Inc.	162,546		13,049,193
Quaker Chemical Corp.	6,836		160,646
Rockwood Holdings, Inc. (a)	19,618		602,076
Rohm & Haas Co.	80,046		4,291,266
RPM International, Inc.	59,690		1,248,118
Sensient Technologies Corp.	23,693		638,289
Sigma Aldrich Corp.	59,760		3,287,995
Spartech Corp.	13,865		196,467
Stepan Co.	836		28,508
Symyx Technologies, Inc. (a)	19,320		126,546
Terra Industries, Inc. (a)(d)	47,555		2,149,962
Terra Nitrogen Co. LP	4,070		563,288
The Mosaic Co. (a)	76,321		8,494,527
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Chemicals - continued
The Scotts Miracle-Gro Co. Class A	26,966		$ 959,720
Tronox, Inc. Class A	31,374		140,242
Valspar Corp.	56,080		1,216,375
W.R. Grace & Co. (a)(d)	30,882		655,625
Westlake Chemical Corp.	10,398		167,824
Zep, Inc.	10,537		165,431
Zoltek Companies, Inc. (a)(d)	13,761		314,852
			164,346,476
Construction Materials - 0.1%
Eagle Materials, Inc.	22,180		788,721
Headwaters, Inc. (a)(d)	13,170		161,464
Martin Marietta Materials, Inc. (d)	22,049		2,372,472
Texas Industries, Inc.	14,848		855,245
U.S. Concrete, Inc. (a)	30,514		121,751
Vulcan Materials Co.	49,326		3,457,753
			7,757,406
Containers & Packaging - 0.3%
AEP Industries, Inc. (a)	4,716		143,319
Aptargroup, Inc.	31,648		1,186,167
Ball Corp.	58,784		2,592,374
Bemis Co., Inc.	49,125		1,219,283
Caraustar Industries, Inc. (a)	6,248		13,746
Chesapeake Corp.	13,027		45,595
Crown Holdings, Inc. (a)	79,455		1,979,224
Graphic Packaging Corp. (a)	22,196		68,364
Greif, Inc. Class A	16,522		1,080,374
MOD-PAC Corp. (sub. vtg.) (a)	1,150		6,659
Myers Industries, Inc.	14,920		181,576
Owens-Illinois, Inc. (a)	76,784		4,334,457
Packaging Corp. of America	43,797		998,134
Pactiv Corp. (a)	60,818		1,539,912
Rock-Tenn Co. Class A	21,495		576,711
Sealed Air Corp.	88,338		2,138,663
Silgan Holdings, Inc.	11,531		538,959
Smurfit-Stone Container Corp. (a)	118,979		945,883
Sonoco Products Co.	46,400		1,307,088
Temple-Inland, Inc.	46,513		638,623
			21,535,111
Metals & Mining - 1.2%
A.M. Castle & Co.	9,744		216,609
AK Steel Holding Corp.	59,203		3,115,262
Alcoa, Inc.	445,960		16,562,954
Allegheny Technologies, Inc.	50,302		3,890,860
Amcol International Corp.	17,731		511,007
Brush Engineered Materials, Inc. (a)	9,797		272,161
Carpenter Technology Corp.	24,054		1,511,313
Century Aluminum Co. (a)	14,489		958,158
Cleveland-Cliffs, Inc.	22,137		2,644,486
Coeur d'Alene Mines Corp. (a)(d)	272,085		1,311,450
	Shares		Value
Commercial Metals Co.	55,893		$ 1,702,501
Compass Minerals International, Inc.	14,048		799,612
Esmark, Inc. (a)	42		487
Freeport-McMoRan Copper & Gold, Inc. Class B	200,208		20,192,979
Haynes International, Inc. (a)(d)	4,447		252,634
Hecla Mining Co. (a)(d)	61,413		706,250
Kaiser Aluminum Corp.	5,374		394,183
Metal Management, Inc.	11,942		724,521
Newmont Mining Corp.	224,855		11,505,830
NN, Inc.	14,100		137,334
Nucor Corp.	132,426		8,550,747
Olympic Steel, Inc.	11,152		460,578
Quanex Corp.	21,263		1,093,981
Reliance Steel & Aluminum Co.	35,432		1,965,059
Royal Gold, Inc.	20,122		634,044
RTI International Metals, Inc. (a)	9,556		524,338
Schnitzer Steel Industries, Inc. Class A	10,509		688,024
Southern Copper Corp. (d)	38,614		4,406,244
Steel Dynamics, Inc.	47,770		2,783,080
Stillwater Mining Co. (a)(d)	19,745		405,365
Synalloy Corp.	700		9,128
Titanium Metals Corp.	57,698		1,189,733
United States Steel Corp.	61,364		6,654,926
Universal Stainless & Alloy Products, Inc. (a)	3,224		97,977
Worthington Industries, Inc.	29,149		512,731
			97,386,546
Paper & Forest Products - 0.3%
AbitibiBowater, Inc. (d)	25,311		261,969
Buckeye Technologies, Inc. (a)	19,818		214,233
Deltic Timber Corp.	8,578		407,798
Domtar Corp. (a)	273,246		1,740,577
Glatfelter	43,011		566,455
International Paper Co.	216,316		6,857,217
Louisiana-Pacific Corp.	46,304		503,788
MeadWestvaco Corp.	95,356		2,446,835
Neenah Paper, Inc.	13,013		338,989
Schweitzer-Mauduit International, Inc.	7,459		171,333
Wausau-Mosinee Paper Corp.	43,208		338,751
Weyerhaeuser Co.	109,511		6,702,073
			20,550,018
TOTAL MATERIALS			311,575,557
TELECOMMUNICATION SERVICES - 2.8%
Diversified Telecommunication Services - 2.3%
Alaska Communication Systems Group, Inc.	42,393		480,313
Allegiance Telecom, Inc. (a)	7,100		0
AT&T, Inc.	3,189,996		111,107,561
Atlantic Tele-Network, Inc.	5,000		153,750
Broadcast International, Inc. (a)	270		932
Cbeyond, Inc. (a)(d)	10,719		175,684
Common Stocks - continued
	Shares		Value
TELECOMMUNICATION SERVICES - continued
Diversified Telecommunication Services - continued
CenturyTel, Inc.	56,092		$ 2,029,969
Cincinnati Bell, Inc. (a)	143,413		556,442
Citizens Communications Co.	157,239		1,688,747
Cogent Communications Group, Inc. (a)(d)	22,164		431,755
Consolidated Communications Holdings, Inc.	18,380		264,856
Covad Communications Group, Inc. (a)	40,529		37,287
D&E Communications, Inc.	4,944		53,840
Embarq Corp.	79,678		3,341,695
FairPoint Communications, Inc.	34,908		343,495
Fonix Corp. (a)	465		0
General Communications, Inc. Class A (a)	26,997		156,313
Global Crossing Ltd. (a)(d)	20,490		395,662
HickoryTech Corp.	540		4,946
Hungarian Telephone & Cable Corp. (a)	4,924		78,833
IDT Corp. Class B (d)	39,891		233,761
Iowa Telecommunication Services, Inc.	32,482		514,190
Level 3 Communications, Inc. (a)(d)	845,981		1,886,538
NTELOS Holdings Corp.	12,351		263,447
PAETEC Holding Corp. (a)	54,655		421,937
Premiere Global Services, Inc. (a)	22,726		321,118
Qwest Communications International, Inc. (d)	740,843		4,000,552
Shenandoah Telecommunications Co.	16,047		238,940
SureWest Communications	9,983		125,486
Time Warner Telecom, Inc. Class A (sub. vtg.) (a)	75,278		1,199,931
Verizon Communications, Inc.	1,515,505		55,043,142
Vonage Holdings Corp. (a)(d)	6,797		12,574
Windstream Corp.	227,083		2,670,496
XETA Technologies, Inc. (a)	2,000		8,420
			188,242,612
Wireless Telecommunication Services - 0.5%
American Tower Corp. Class A (a)	210,823		8,104,036
Centennial Communications Corp. Class A (a)	23,517		123,935
Clearwire Corp. (d)	34,425		482,294
Crown Castle International Corp. (a)	140,636		5,075,553
FiberTower Corp. (a)	27,468		41,202
GoAmerica, Inc. (a)	30		177
IPCS, Inc.	3,344		63,436
Kratos Defense & Security Solutions, Inc. (a)	9,297		16,921
LCC International, Inc. (a)	2,300		3,772
Leap Wireless International, Inc. (a)(d)	23,883		1,021,237
Metro One Telecommunications, Inc. (a)	1,450		1,537
MetroPCS Communications, Inc.	88,500		1,411,575
NII Holdings, Inc. (a)	91,640		3,640,857
Rural Cellular Corp. Class A (a)	6,213		273,558
SBA Communications Corp. Class A (a)	49,081		1,523,965
	Shares		Value
Sprint Nextel Corp.	1,506,884		$ 10,713,945
Syniverse Holdings, Inc. (a)	30,577		518,280
Telephone & Data Systems, Inc.	56,237		2,637,515
Terrestar Corp. (a)(d)	26,200		141,218
U.S. Cellular Corp. (a)	6,963		438,669
USA Mobility, Inc.	19,338		203,049
Virgin Mobile USA, Inc. Class A (d)	12,612		63,943
			36,500,674
TOTAL TELECOMMUNICATION SERVICES			224,743,286
UTILITIES - 3.6%
Electric Utilities - 1.8%
Allegheny Energy, Inc.	85,096		4,311,814
Allete, Inc.	12,552		452,374
American Electric Power Co., Inc.	202,934		8,304,059
Central Vermont Public Service Corp.	2,866		68,641
Cleco Corp.	37,059		849,022
DPL, Inc.	63,302		1,614,834
Duke Energy Corp.	657,909		11,539,724
Edison International	156,615		7,736,781
El Paso Electric Co. (a)	36,448		745,726
Empire District Electric Co.	21,097		432,699
Enernoc, Inc. (d)	6,824		100,859
Entergy Corp.	101,407		10,418,555
Exelon Corp.	347,453		26,006,857
FirstEnergy Corp.	157,028		10,613,523
FPL Group, Inc.	193,526		11,667,683
Great Plains Energy, Inc.	45,382		1,154,064
Hawaiian Electric Industries, Inc.	48,755		1,095,037
IDACORP, Inc.	24,625		733,825
ITC Holdings Corp.	22,621		1,205,699
MGE Energy, Inc.	11,941		376,858
Northeast Utilities	74,348		1,886,209
Otter Tail Corp.	19,318		626,869
Pepco Holdings, Inc.	95,952		2,424,707
Pinnacle West Capital Corp.	48,513		1,724,637
Portland General Electric Co.	33,371		778,545
PPL Corp.	193,983		8,802,949
Progress Energy, Inc.	133,280		5,585,765
Reliant Energy, Inc. (a)	184,977		4,217,476
Sierra Pacific Resources	128,141		1,654,300
Southern Co.	402,296		13,891,281
UIL Holdings Corp.	17,871		525,229
Unisource Energy Corp.	26,415		624,715
Unitil Corp.	2,363		63,328
Westar Energy, Inc.	47,666		1,083,448
			143,318,092
Gas Utilities - 0.4%
AGL Resources, Inc.	32,903		1,141,076
Amerigas Partners LP	16,374		532,974
Atmos Energy Corp.	44,801		1,164,826
Chesapeake Utilities Corp.	7,771		222,717
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Gas Utilities - continued
Delta Natural Gas Co., Inc.	1,791		$ 45,706
Energen Corp.	31,254		1,875,240
EnergySouth, Inc.	2,326		118,068
Equitable Resources, Inc.	65,507		4,036,541
Ferrellgas Partners LP	20,553		470,664
Laclede Group, Inc.	15,031		513,309
National Fuel Gas Co.	35,285		1,660,159
New Jersey Resources Corp.	17,867		822,061
Nicor, Inc. (d)	20,936		713,918
Northwest Natural Gas Co.	23,927		1,005,891
ONEOK, Inc.	47,536		2,213,752
Piedmont Natural Gas Co., Inc.	33,355		820,533
Questar Corp.	87,022		4,807,966
South Jersey Industries, Inc.	14,199		485,180
Southern Union Co.	45,517		1,170,697
Southwest Gas Corp.	26,857		687,271
Spectra Energy Partners, LP	10,000		247,000
Suburban Propane Partners LP	20,806		854,294
UGI Corp.	46,392		1,188,099
WGL Holdings, Inc.	32,132		1,002,197
			27,800,139
Independent Power Producers & Energy Traders - 0.4%
AES Corp. (a)	351,148		6,313,641
AMEN Properties, Inc. (a)	75		555
Black Hills Corp.	19,546		698,965
Calpine Corp. (a)	220,000		4,153,600
Constellation Energy Group, Inc.	94,313		8,332,554
Dynegy, Inc. Class A (a)	187,139		1,384,829
Mirant Corp. (a)(d)	130,234		4,818,658
NRG Energy, Inc. (a)(d)	122,490		5,055,162
Ormat Technologies, Inc.	9,068		395,909
Renegy Holdings, Inc. (a)	1,129		6,559
			31,160,432
Multi-Utilities - 1.0%
Alliant Energy Corp.	57,027		1,981,118
Ameren Corp.	107,912		4,607,842
Aquila, Inc. (a)	178,754		582,738
Avista Corp.	36,653		668,551
CenterPoint Energy, Inc.	152,688		2,241,460
CH Energy Group, Inc.	7,715		276,043
CMS Energy Corp.	124,473		1,791,166
Consolidated Edison, Inc.	138,734		5,672,833
Dominion Resources, Inc.	296,358		11,836,539
DTE Energy Co.	81,182		3,231,855
Energy East Corp.	77,061		2,053,676
Integrys Energy Group, Inc.	34,851		1,600,706
MDU Resources Group, Inc.	79,253		2,081,184
NiSource, Inc.	136,007		2,337,960
NorthWestern Energy Corp.	40,771		1,051,484
NSTAR	52,400		1,619,160
	Shares		Value
OGE Energy Corp.	43,193		$ 1,402,477
PG&E Corp.	181,124		6,821,130
PNM Resources, Inc.	38,570		456,669
Public Service Enterprise Group, Inc.	264,496		11,664,274
Puget Energy, Inc.	62,049		1,656,708
SCANA Corp.	52,864		2,001,960
Sempra Energy	117,624		6,249,363
TECO Energy, Inc.	113,664		1,702,687
Vectren Corp.	35,249		908,367
Wisconsin Energy Corp.	56,733		2,474,693
Xcel Energy, Inc.	213,418		4,229,945
			83,202,588
Water Utilities - 0.0%
American States Water Co.	11,060		360,003
Aqua America, Inc. (d)	70,605		1,344,319
Artesian Resources Corp. Class A	3,752		70,838
California Water Service Group	13,828		520,209
Middlesex Water Co.	3,274		61,715
SJW Corp. (d)	7,881		238,164
Southwest Water Co.	7,527		82,571
			2,677,819
TOTAL UTILITIES			288,159,070
TOTAL COMMON STOCKS (Cost $7,235,108,264)		7,620,724,162

U.S. Treasury Obligations - 0.3%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 2.72% to 3.22% 3/27/08 (e) (Cost $22,945,768)	$ 23,000,000	22,968,720

Money Market Funds - 8.2%
	Shares
Fidelity Cash Central Fund, 3.24% (b)	367,693,517		367,693,517
Fidelity Securities Lending Cash Central Fund, 3.25% (b)(c)	293,216,394		293,216,394
TOTAL MONEY MARKET FUNDS (Cost $660,909,911)		660,909,911

TOTAL INVESTMENT PORTFOLIO - 103.2% (Cost $7,918,963,943) 8,304,602,793

NET OTHER ASSETS - (3.2)%	(260,081,160)
NET ASSETS - 100%	$ 8,044,521,633

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
725 Mini-Russell 2000 Index Contracts	March 2008	$ 49,793,000	$ (3,283,295)
78 S&P 500 E-Mini Index Contracts	March 2008	5,192,070	(375,146)
1,006 S&P 500 Index Contracts	March 2008	334,821,950	(20,388,230)
315 S&P MidCap 400 E-Mini Index Contracts	March 2008	24,866,100	(1,234,525)
TOTAL EQUITY INDEX CONTRACTS		$ 414,673,120	$ (25,281,196)

The face value of futures purchased as a percentage of net assets - 5.2%

Swap Agreements
	Expiration Date	Notional Amount	Value
Equity Total Return Swaps
Receive monthly a return equal to Plains All American LP and pay monthly a floating rate based on 1-month LIBOR plus 25 basis points with JPMorgan Chase, Inc.	Oct. 2008	$ 2,386,662	$ (263,919)

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $22,504,352.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 13,328,914
Fidelity Securities Lending Cash Central Fund	2,937,320
Total	$ 16,266,234

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Total Market Index Fund

Financial Statements

Statement of Assets and Liabilities

	February 29, 2008
Assets
Investment in securities, at value (including securities loaned of $276,229,326) - See accompanying schedule: Unaffiliated issuers (cost $7,258,054,032)	$ 7,643,692,882
Fidelity Central Funds (cost $660,909,911)	660,909,911
Total Investments (cost $7,918,963,943)		$ 8,304,602,793
Cash		849,988
Receivable for investments sold		1,981,177
Receivable for fund shares sold		28,117,784
Dividends receivable		14,840,544
Distributions receivable from Fidelity Central Funds		1,304,139
Other receivables		27,894
Total assets		8,351,724,319
Liabilities
Payable for investments purchased	$ 355,944
Payable for fund shares redeemed	2,609,778
Swap agreements, at value	263,919
Accrued management fee	474,647
Payable for daily variation on futures contracts	10,168,824
Other affiliated payables	113,180
Collateral on securities loaned, at value	293,216,394
Total liabilities		307,202,686
Net Assets		$ 8,044,521,633
Net Assets consist of:
Paid in capital		$ 7,690,826,807
Undistributed net investment income		30,602,978
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		(37,000,005)
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		360,091,853
Net Assets		$ 8,044,521,633
Investor Class: Net Asset Value, offering price and redemption price per share ($4,479,327,361 ÷ 120,251,265 shares)		$ 37.25
Fidelity Advantage Class: Net Asset Value, offering price and redemption price per share ($3,565,194,272 ÷ 95,705,441 shares)		$ 37.25

Statement of Operations

	Year ended February 29, 2008
Investment Income
Dividends		$ 135,691,241
Interest		611,248
Income from Fidelity Central Funds (including $2,937,320 from security lending)		16,266,234
Total income		152,568,723
Expenses
Management fee	$ 5,521,452
Transfer agent fees	1,364,775
Independent trustees' compensation	28,445
Miscellaneous	17,571
Total expenses before reductions	6,932,243
Expense reductions	(176,580)	6,755,663
Net investment income (loss)		145,813,060
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	70,910,749
Foreign currency transactions	746
Futures contracts	(19,269,870)
Swap agreements	(233,434)
Total net realized gain (loss)		51,408,191
Change in net unrealized appreciation (depreciation) on: Investment securities	(592,567,018)
Assets and liabilities in foreign currencies	(1,820)
Futures contracts	(22,368,483)
Swap agreements	(376,633)
Total change in net unrealized appreciation (depreciation)		(615,313,954)
Net gain (loss)		(563,905,763)
Net increase (decrease) in net assets resulting from operations		$ (418,092,703)

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Total Market Index Fund
Financial Statements - continued

Statement of Changes in Net Assets

	Year ended February 29, 2008	Year ended February 28, 2007
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 145,813,060	$ 85,287,470
Net realized gain (loss)	51,408,191	28,635,068
Change in net unrealized appreciation (depreciation)	(615,313,954)	410,018,502
Net increase (decrease) in net assets resulting from operations	(418,092,703)	523,941,040
Distributions to shareholders from net investment income	(129,498,073)	(74,441,874)
Distributions to shareholders from net realized gain	(48,607,389)	-
Total distributions	(178,105,462)	(74,441,874)
Share transactions - net increase (decrease)	2,009,784,608	2,465,303,242
Redemption fees	360,546	144,921
Total increase (decrease) in net assets	1,413,946,989	2,914,947,329
Net Assets
Beginning of period	6,630,574,644	3,715,627,315
End of period (including undistributed net investment income of $30,602,978 and undistributed net investment income of $22,777,106, respectively)	$ 8,044,521,633	$ 6,630,574,644

Financial Highlights - Investor Class

Years ended February 28,	2008 G	2007	2006	2005	2004 G
Selected Per-Share Data
Net asset value, beginning of period	$ 39.68	$ 35.89	$ 32.89	$ 31.00	$ 22.07
Income from Investment Operations
Net investment income (loss) B	.76	.68	.56	.54 E	.37
Net realized and unrealized gain (loss)	(2.30)	3.63	2.95	1.82	8.88
Total from investment operations	(1.54)	4.31	3.51	2.36	9.25
Distributions from net investment income	(.65)	(.52)	(.51)	(.47)	(.32)
Distributions from net realized gain	(.24)	-	-	-	-
Total distributions	(.89)	(.52)	(.51)	(.47)	(.32)
Redemption fees added to paid in capital B, H	-	-	-	-	-
Net asset value, end of period	$ 37.25	$ 39.68	$ 35.89	$ 32.89	$ 31.00
Total Return A	(4.10)%	12.05%	10.73%	7.64%	42.07%
Ratios to Average Net Assets C,F
Expenses before reductions	.10%	.10%	.10%	.38%	.40%
Expenses net of fee waivers, if any	.10%	.10%	.10%	.17%	.25%
Expenses net of all reductions	.10%	.10%	.10%	.17%	.25%
Net investment income (loss)	1.84%	1.80%	1.67%	1.73% E	1.36%
Supplemental Data
Net assets, end of period (000 omitted)	$ 4,479,327	$ 3,942,368	$ 1,971,617	$ 2,849,097	$ 2,240,513
Portfolio turnover rate D	4%	4%	6%	6%	3%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^D Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^E Investment income per share reflects a special dividend which amounted to $.08 per share. Excluding the special dividend, the ratio of net investment income (loss) to average net assets would have been 1.49%.

^F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

^G For the year ended February 29.

^H Amount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Class

Years ended February 28,	2008 I	2007	2006 G
Selected Per-Share Data
Net asset value, beginning of period	$ 39.68	$ 35.89	$ 33.05
Income from Investment Operations
Net investment income (loss) D	.77	.69	.24
Net realized and unrealized gain (loss)	(2.30)	3.63	3.02
Total from investment operations	(1.53)	4.32	3.26
Distributions from net investment income	(.66)	(.53)	(.42)
Distributions from net realized gain	(.24)	-	-
Total distributions	(.90)	(.53)	(.42)
Redemption fees added to paid in capital D,J	-	-	-
Net asset value, end of period	$ 37.25	$ 39.68	$ 35.89
Total Return B,C	(4.07)%	12.08%	9.90%
Ratios to Average Net Assets E,H
Expenses before reductions	.07%	.07%	.07% A
Expenses net of fee waivers, if any	.07%	.07%	.07% A
Expenses net of all reductions	.07%	.07%	.07% A
Net investment income (loss)	1.87%	1.83%	1.83% A
Supplemental Data
Net assets, end of period (000 omitted)	$ 3,565,194	$ 2,688,207	$ 1,744,010
Portfolio turnover rate F	4%	4%	6%

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G For the period October 14, 2005 (commencement of sale of shares) to February 28, 2006.

^H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

^I For the year ended February 29.

^J Amount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Extended Market Index Fund

Performance: The Bottom Line

Average annual total return reflects the change in the value of an investment, assuming reinvestment of the class' dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The $10,000 table and the fund's returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund's total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.

Average Annual Total Returns

Periods ended February 29, 2008	Past 1 year	Past 5 years	Past 10 years
Spartan Extended Market Index Fund - Investor Class	-6.02%	16.77%	5.91%
Spartan Extended Market Index Fund - Fidelity Advantage Class A	-6.01%	16.79%	5.92%

^A The initial offering of Fidelity Advantage Class took place on October 14, 2005. Returns prior to October 14, 2005 are those of Investor Class.

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Spartan Extended Market Index Fund - Investor Class on February 28, 1998. The chart shows how the value of your investment would have changed, and also shows how the Dow Jones Wilshire 4500 Completion Index^SM performed over the same period.

Annual Report

Spartan Extended Market Index Fund

Management's Discussion of Fund Performance

Comments from Jeffrey Adams, who oversees the Spartan® Extended Market Index Fund's investment management team as Head of Indexing for Geode Capital Management, LLC

It was a winter of discontent for U.S. equity investors, as a credit freeze led to subzero returns for many stock market benchmarks during the 12-month period ending February 29, 2008. In addition to the subprime mortgage market crisis, which severely constrained the availability of credit, a flurry of other issues afflicted investor sentiment - particularly in the final three months of the period - including a major housing market slowdown, rising inflation, a potential recession and oil prices that topped $100 per barrel. The Federal Reserve Board aggressively intervened in an effort to ease the credit crunch, slashing the federal funds target rate five times since September. Despite the central bank's efforts, the Standard & Poor's 500^SM Index fell 3.60% for the year overall and lost nearly 10% in the December-February time frame alone. The bellwether, blue-chip Dow Jones Industrial Average^SM managed a modest increase of 2.32% over the past 12 months, but the small-cap-oriented Russell 2000® Index declined 12.44%. Elsewhere, the technology-heavy NASDAQ Composite® Index fell 5.34%.

For the year ending February 29, 2008, the fund's Investor Class and Fidelity Advantage Class shares lost 6.02% and 6.01%, respectively. In comparison, the Dow Jones Wilshire 4500 Completion Index^SM declined 6.04%. The energy sector led the market, with materials and industrials - notably, capital goods - also performing well. The telecommunication services and consumer discretionary sectors were the market's worst performers overall. Looking at individual holdings, Berkshire Hathaway, a collection of businesses run by investor Warren Buffett, was the top overall contributor, benefiting from having a healthy balance sheet and investors' confidence in a volatile market. Fertilizer maker Mosaic rose sharply along with the price of phospate - a key fertilizer component. Oil and natural gas driller GlobalSantaFe gained ground, while engineering and construction company McDermott International reported higher profits. In contrast, media holding company Liberty Media underperformed, in part because of slowing sales growth at its QVC home-shopping network. Network communication services company Level 3 Communications struggled with operational challenges. NII Holdings, which provides wireless communications services in Latin America, saw its shares fall in response to relatively weak quarterly profits and concerns about increased competition. Of final note, rising fuel prices weighed on the earnings of AMR, parent company of American Airlines.

The views expressed above reflect those of the portfolio manager only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.

Annual Report

Spartan Extended Market Index Fund

Investment Changes

Top Ten Stocks as of February 29, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Berkshire Hathaway, Inc. Class A	4.5	3.3
Genentech, Inc.	1.1	0.9
Accenture Ltd. Class A	0.6	0.7
The Mosaic Co.	0.5	0.2
Liberty Media Corp. - Capital Series A	0.5	0.4
Liberty Global, Inc. Class A	0.5	0.4
Mastercard, Inc. Class A	0.4	0.2
Bunge Ltd.	0.4	0.3
Ultra Petroleum Corp.	0.4	0.2
McDermott International, Inc.	0.3	0.3
	9.2
Market Sectors as of February 29, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	21.7	21.1
Information Technology	13.3	13.9
Industrials	13.1	13.1
Consumer Discretionary	12.2	14.3
Health Care	11.0	10.6
Energy	10.2	8.8
Materials	5.8	5.3
Utilities	4.7	4.1
Consumer Staples	3.1	2.8
Telecommunication Services	1.6	2.2

Percentages are adjusted for the effect of futures and swaps contracts, if applicable.

Annual Report

Spartan Extended Market Index Fund

Investments February 29, 2008

Showing Percentage of Net Assets

Common Stocks - 96.6%
	Shares		Value
CONSUMER DISCRETIONARY - 12.2%
Auto Components - 0.7%
Aftermarket Technology Corp. (a)	21,842		$ 409,538
American Axle & Manufacturing Holdings, Inc.	42,773		841,773
Amerigon, Inc. (a)	23,891		433,861
Amerityre Corp. (a)(d)	29,329		61,298
ArvinMeritor, Inc.	79,316		895,478
BorgWarner, Inc.	110,268		4,753,653
Cooper Tire & Rubber Co.	55,555		1,003,879
Dana Holding Corp. (a)	43,600		514,480
Dorman Products, Inc. (a)	2,806		29,463
Drew Industries, Inc. (a)	19,046		513,480
Exide Technologies (a)(d)	79,119		808,596
Fuel Systems Solutions, Inc. (a)(d)	12,638		130,677
Gentex Corp.	141,558		2,281,915
Hawk Corp. Class A (a)	3,526		65,936
Hayes Lemmerz International, Inc. (a)	129,780		412,700
Lear Corp. (a)(d)	58,863		1,623,442
Modine Manufacturing Co.	27,539		343,687
Noble International Ltd.	18,873		205,904
Proliance International, Inc. (a)	3,337		9,277
Quantum Fuel Systems Technologies Worldwide, Inc. (a)	11,619		8,133
Sauer-Danfoss, Inc.	10,641		226,228
Shiloh Industries, Inc.	7,998		74,541
Spartan Motors, Inc. (d)	30,723		249,778
Standard Motor Products, Inc.	9,163		67,898
Stoneridge, Inc. (a)	21,118		227,652
Strattec Security Corp.	1,213		45,318
Superior Industries International, Inc. (d)	23,559		408,984
Tenneco, Inc. (a)	41,435		1,046,234
TRW Automotive Holdings Corp. (a)	47,769		1,054,740
Visteon Corp. (a)(d)	115,472		404,152
WABCO Holdings, Inc.	52,700		2,201,806
			21,354,501
Automobiles - 0.1%
Coachmen Industries, Inc.	14,942		66,193
Fleetwood Enterprises, Inc. (a)(d)	65,521		279,119
Monaco Coach Corp.	40,798		399,004
Thor Industries, Inc. (d)	34,161		1,041,227
Winnebago Industries, Inc. (d)	27,655		555,036
			2,340,579
Distributors - 0.1%
Amcon Distributing Co. (a)	1,022		32,704
Aristotle Corp. (a)	3,170		37,945
Audiovox Corp. Class A (a)	17,037		153,333
Building Materials Holding Corp. (d)	25,698		148,534
Core-Mark Holding Co., Inc. (a)	13,487		358,350
Design Within Reach, Inc. (a)	7,015		16,906
DXP Enterprises, Inc. (a)	5,096		190,488
Handleman Co. (d)	16,324		21,384
	Shares		Value
LKQ Corp. (a)(d)	122,421		$ 2,600,222
Source Interlink Companies, Inc. (a)	25,121		42,454
			3,602,320
Diversified Consumer Services - 0.8%
American Public Education, Inc.	4,034		134,453
Bright Horizons Family Solutions, Inc. (a)	27,601		1,241,493
Capella Education Co. (a)	10,194		537,326
Career Education Corp. (a)(d)	84,255		1,251,187
Carriage Services, Inc. Class A (a)	9,225		72,878
Coinstar, Inc. (a)	24,128		703,572
Collectors Universe, Inc.	1,240		11,544
Corinthian Colleges, Inc. (a)	87,386		694,719
CPI Corp.	3,642		60,384
DeVry, Inc.	58,161		2,555,594
INVESTools, Inc. (a)	49,776		575,908
ITT Educational Services, Inc. (a)(d)	38,085		2,103,054
Jackson Hewitt Tax Service, Inc.	27,794		581,728
Mace Security International, Inc. (a)	8,918		15,607
Matthews International Corp. Class A	31,996		1,435,341
Nobel Learning Communities, Inc. (a)	2,715		35,458
Pre-Paid Legal Services, Inc. (a)	11,474		546,736
Princeton Review, Inc. (a)	7,132		59,196
Regis Corp.	42,201		1,057,135
Service Corp. International	277,157		2,993,296
Sotheby's Class A (ltd. vtg.)	62,873		2,120,078
Steiner Leisure Ltd. (a)	17,289		567,425
Stewart Enterprises, Inc. Class A	88,229		526,727
Strayer Education, Inc.	14,184		2,208,449
Universal Technical Institute, Inc. (a)(d)	27,449		343,113
Weight Watchers International, Inc.	36,503		1,715,641
			24,148,042
Hotels, Restaurants & Leisure - 2.4%
AFC Enterprises, Inc. (a)	34,768		262,498
Ambassadors Group, Inc.	15,867		284,654
Ambassadors International, Inc. (d)	7,395		82,380
American Wagering, Inc. (a)	4,600		3,312
Ameristar Casinos, Inc.	26,350		510,927
ARK Restaurants Corp.	5,734		176,607
Bally Technologies, Inc. (a)	45,707		1,732,752
Benihana, Inc. Class A (sub. vtg.)	10,026		107,378
BJ's Restaurants, Inc. (a)	20,082		272,312
Bluegreen Corp. (a)(d)	15,202		128,609
Bob Evans Farms, Inc.	31,313		906,511
Boyd Gaming Corp. (d)	53,566		1,129,707
Brinker International, Inc.	103,009		1,899,486
Buca, Inc. (a)	5,333		2,187
Buffalo Wild Wings, Inc. (a)(d)	17,260		399,914
Burger King Holdings, Inc.	50,698		1,300,911
California Pizza Kitchen, Inc. (a)	27,163		378,652
Carrols Restaurant Group, Inc. (a)(d)	13,945		115,325
CBRL Group, Inc.	21,251		773,961
CEC Entertainment, Inc. (a)	28,600		767,338
Cedar Fair LP (depository unit)	45,526		1,052,561
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Hotels, Restaurants & Leisure - continued
Century Casinos, Inc. (a)	29,959		$ 145,301
Chipotle Mexican Grill, Inc. Class A (a)(d)	30,239		3,002,733
Choice Hotels International, Inc.	34,766		1,128,157
Churchill Downs, Inc.	11,663		531,016
CKE Restaurants, Inc.	55,663		616,746
Cosi, Inc. (a)	50,022		136,060
Denny's Corp. (a)	103,524		322,995
Domino's Pizza, Inc.	40,766		540,150
Dover Downs Gaming & Entertainment, Inc.	19,410		177,019
Dover Motorsports, Inc.	22,686		156,760
Einstein Noah Restaurant Group, Inc. (a)	5,000		77,050
Empire Resorts, Inc. (a)(d)	29,497		56,634
Famous Dave's of America, Inc. (a)	10,737		108,981
Frisch's Restaurants, Inc.	2,711		58,558
Gaylord Entertainment Co. (a)	43,063		1,295,766
Great Wolf Resorts, Inc. (a)	56,227		386,279
IHOP Corp. (d)	17,704		810,489
International Speedway Corp. Class A	35,090		1,397,986
Interstate Hotels & Resorts, Inc. (a)	17,282		85,892
Isle of Capri Casinos, Inc. (a)(d)	25,751		233,047
Jack in the Box, Inc. (a)	56,988		1,497,075
Jamba, Inc. (a)(d)	20,639		51,598
Krispy Kreme Doughnuts, Inc. (a)(d)	54,754		146,193
Landry's Restaurants, Inc. (d)	12,835		227,565
Las Vegas Sands Corp. (a)	100,106		8,338,830
Life Time Fitness, Inc. (a)(d)	32,583		946,862
Littlefield Corp. (a)	600		810
Lodgian, Inc. (a)	30,634		274,174
Luby's, Inc. (a)	27,286		249,667
Marcus Corp.	29,821		475,347
Max & Erma's Restaurants, Inc. (a)	2,608		6,807
McCormick & Schmick's Seafood Restaurants (a)	12,159		131,804
MGM Mirage, Inc. (a)(d)	95,606		5,888,374
Monarch Casino & Resort, Inc. (a)	14,183		235,721
Morgans Hotel Group Co. (a)(d)	34,281		525,871
Morton's Restaurant Group, Inc. (a)	8,711		67,510
MTR Gaming Group, Inc. (a)	23,573		132,952
Multimedia Games, Inc. (a)(d)	34,474		241,318
O'Charleys, Inc.	29,511		333,179
Orient Express Hotels Ltd. Class A	36,293		1,965,992
P.F. Chang's China Bistro, Inc. (a)(d)	23,366		666,632
Panera Bread Co. Class A (a)(d)	31,349		1,171,512
Papa John's International, Inc. (a)	22,475		587,721
Peet's Coffee & Tea, Inc. (a)(d)	16,921		396,121
Penn National Gaming, Inc. (a)	73,559		3,371,209
Pinnacle Entertainment, Inc. (a)(d)	56,457		884,117
Premier Exhibitions, Inc. (a)(d)	16,798		80,294
Progressive Gaming International Corp. (a)	36,971		95,015
	Shares		Value
Red Lion Hotels Corp. (a)	13,529		$ 108,367
Red Robin Gourmet Burgers, Inc. (a)	12,651		421,658
Riviera Holdings Corp. (a)	9,800		223,538
Royal Caribbean Cruises Ltd. (d)	127,573		4,466,331
Rubio's Restaurants, Inc. (a)	3,930		25,859
Ruby Tuesday, Inc.	49,115		349,208
Ruth's Chris Steak House, Inc. (a)(d)	15,729		109,946
Scientific Games Corp. Class A (a)(d)	66,898		1,382,782
Shuffle Master, Inc. (a)(d)	35,674		293,954
Silverleaf Resorts, Inc. (a)	16,000		53,120
Six Flags, Inc. (a)	81,962		161,465
Sonic Corp. (a)	64,240		1,370,239
SPEEDUS Corp. (a)	475		660
Speedway Motorsports, Inc.	12,671		369,993
Texas Roadhouse, Inc. Class A (a)	51,113		475,351
The Cheesecake Factory, Inc. (a)(d)	64,435		1,347,336
The Steak n Shake Co. (a)	28,073		234,129
Town Sports International Holdings, Inc. (a)(d)	11,158		89,933
Triarc Companies, Inc. Class B	66,579		560,595
Trump Entertainment Resorts, Inc. (a)(d)	22,714		91,310
Vail Resorts, Inc. (a)(d)	29,367		1,328,857
VCG Holding Corp. (a)	18,692		197,201
WMS Industries, Inc. (a)(d)	44,326		1,683,058
Wynn Resorts Ltd.	60,509		6,093,256
Youbet.com, Inc. (a)	30,676		27,302
			74,011,319
Household Durables - 1.1%
American Greetings Corp. Class A	49,737		936,050
Avatar Holdings, Inc. (a)(d)	6,380		274,850
Bassett Furniture Industries, Inc.	8,703		102,173
Beazer Homes USA, Inc. (d)	36,415		258,547
Blyth, Inc.	27,359		542,529
Brookfield Homes Corp. (d)	9,444		144,021
California Coastal Communities, Inc. (a)(d)	7,836		40,042
Cavalier Homes, Inc. (a)	13,027		22,146
Cavco Industries, Inc. (a)	8,826		290,728
Champion Enterprises, Inc. (a)(d)	73,058		648,755
Cobra Electronics Corp.	1,132		5,422
Comstock Homebuilding Companies, Inc. Class A (a)(d)	3,651		2,811
Craftmade International, Inc.	2,794		26,627
CSS Industries, Inc.	8,769		306,126
Directed Electronics, Inc. (a)	13,160		28,952
Dixie Group, Inc. (a)	6,499		57,256
Dominion Homes, Inc. (a)(d)	2,526		1,541
Emerson Radio Corp. (a)	9,263		10,004
Ethan Allen Interiors, Inc. (d)	29,545		804,806
Flexsteel Industries, Inc.	3,192		42,071
Furniture Brands International, Inc. (d)	52,886		687,518
Garmin Ltd. (d)	121,540		7,135,613
Helen of Troy Ltd. (a)	25,072		395,887
Hooker Furniture Corp.	10,379		212,666
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Household Durables - continued
Hovnanian Enterprises, Inc. Class A (a)(d)	43,491		$ 396,203
Icahn Enterprises LP	5,579		542,558
iRobot Corp. (a)(d)	18,258		334,487
Jarden Corp. (a)	65,589		1,580,039
La-Z-Boy, Inc. (d)	52,536		442,878
Lenox Group, Inc. (a)	11,079		20,496
Levitt Corp. Class A	10,641		21,282
Libbey, Inc.	18,245		283,710
Lifetime Brands, Inc. (d)	12,011		124,074
M.D.C. Holdings, Inc.	33,263		1,393,054
M/I Homes, Inc. (d)	15,338		252,924
Meritage Homes Corp. (a)(d)	26,425		400,075
Mohawk Industries, Inc. (a)(d)	51,351		3,666,975
National Presto Industries, Inc.	7,882		413,017
NVR, Inc. (a)(d)	4,424		2,391,968
Orleans Homebuilders, Inc. (d)	4,454		22,315
Palm Harbor Homes, Inc. (a)(d)	9,454		47,648
Russ Berrie & Co., Inc. (a)	6,705		87,567
Ryland Group, Inc. (d)	38,725		1,095,530
Sealy Corp., Inc. (d)	38,709		352,639
Skyline Corp.	6,866		193,621
Standard Pacific Corp. (d)	55,509		228,142
Stanley Furniture Co., Inc.	12,350		162,526
Syntax-Brillian Corp. (a)(d)	76,071		54,048
Tempur-Pedic International, Inc. (d)	67,801		1,181,093
Toll Brothers, Inc. (a)	131,710		2,793,569
Tupperware Brands Corp.	58,364		2,129,119
Universal Electronics, Inc. (a)	13,861		314,645
WCI Communities, Inc. (a)(d)	35,440		137,862
			34,041,205
Internet & Catalog Retail - 0.6%
1-800-FLOWERS.com, Inc. Class A (a)	40,928		329,061
Audible, Inc. (a)	21,878		250,503
Blue Nile, Inc. (a)(d)	13,568		599,163
Bluefly, Inc. (a)	1,778		729
dELiA*s, Inc. (a)	18,288		36,393
Drugstore.com, Inc. (a)	71,510		200,228
eDiets.com, Inc. (a)(d)	14,028		65,370
FTD Group, Inc.	28,982		399,662
Gaiam, Inc. Class A (a)	15,653		333,096
GSI Commerce, Inc. (a)(d)	18,751		271,327
Hollywood Media Corp. (a)	26,946		71,676
Liberty Media Corp. - Interactive Series A (a)(d)	614,067		8,818,002
Netflix, Inc. (a)(d)	51,730		1,633,633
NutriSystem, Inc. (a)(d)	33,719		482,519
Orbitz Worldwide, Inc.	28,000		176,680
Overstock.com, Inc. (a)(d)	13,725		140,681
PC Mall, Inc. (a)(d)	3,555		28,476
PetMed Express, Inc. (a)	33,922		388,407
	Shares		Value
Priceline.com, Inc. (a)(d)	33,309		$ 3,797,892
RedEnvelope, Inc. (a)	5,119		8,702
Shutterfly, Inc. (a)	15,049		230,099
Sport Supply Group, Inc.	9,387		106,636
Stamps.com, Inc. (a)	24,970		220,985
Systemax, Inc. (d)	10,200		110,466
US Auto Parts Network, Inc.	28,450		139,690
ValueVision Media, Inc. Class A (a)(d)	31,268		164,470
Varsity Group, Inc. (a)	4,794		954
			19,005,500
Leisure Equipment & Products - 0.2%
Adams Golf, Inc. (a)	2,386		22,548
Arctic Cat, Inc.	18,451		139,490
Callaway Golf Co.	62,625		954,405
Cybex International, Inc. (a)	14,718		59,608
Escalade, Inc.	6,336		57,658
Gametech International, Inc. (a)	13,061		76,015
JAKKS Pacific, Inc. (a)	26,514		741,066
Johnson Outdoors, Inc. Class A	1,929		35,687
Leapfrog Enterprises, Inc. Class A (a)(d)	51,847		295,528
Marine Products Corp.	11,382		83,316
MarineMax, Inc. (a)(d)	22,612		277,675
Meade Instruments Corp. (a)	4,023		6,155
Nautilus, Inc. (d)	27,540		115,393
Polaris Industries, Inc. (d)	32,449		1,238,903
Pool Corp. (d)	47,400		902,970
RC2 Corp. (a)	19,370		359,314
Smith & Wesson Holding Corp. (a)(d)	25,141		128,722
Steinway Musical Instruments, Inc.	10,524		260,048
Sturm Ruger & Co., Inc. (a)	29,607		233,895
			5,988,396
Media - 3.1%
4Kids Entertainment, Inc. (a)	18,966		224,557
A.H. Belo Corp. Class A (a)	15,726		191,385
ACME Communications, Inc.	6,362		18,704
Alloy, Inc. (a)	9,144		70,317
Arbitron, Inc.	28,999		1,215,638
Ballantyne of Omaha, Inc. (a)	30		148
Beasley Broadcast Group, Inc. Class A	4,117		22,849
Belo Corp. Series A	78,632		925,499
Cablevision Systems Corp. - NY Group Class A (a)	217,325		5,822,137
Carmike Cinemas, Inc.	16,956		122,592
Charter Communications, Inc. Class A (a)(d)	365,261		351,381
Cinemark Holdings, Inc.	48,212		696,181
Citadel Broadcasting Corp.	158,912		174,803
CKX, Inc. (a)(d)	43,732		390,089
Clear Channel Outdoor Holding, Inc. Class A (a)(d)	42,115		979,595
Cox Radio, Inc. Class A (a)	34,485		378,990
Crown Media Holdings, Inc. Class A (a)(d)	4,844		26,836
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Media - continued
Cumulus Media, Inc. Class A (a)(d)	58,225		$ 320,238
DG FastChannel, Inc. (a)	15,830		319,608
Discovery Holding Co. Class A (a)	266,533		6,015,650
DISH Network Corp. Class A (a)	197,128		5,844,845
Dolan Media Co.	15,521		346,274
DreamWorks Animation SKG, Inc. Class A (a)	65,782		1,669,547
EMAK Worldwide, Inc. (a)	3,798		3,798
Emmis Communications Corp. Class A (a)	64,360		190,506
Entercom Communications Corp. Class A	29,619		330,844
Entertainment Distribution Co., Inc. (a)	64,254		37,910
Entravision Communication Corp. Class A (a)	60,708		352,106
Fisher Communications, Inc. (a)	11,582		362,748
Franklin Electronic Publishers, Inc. (a)	2,339		5,122
GateHouse Media, Inc. (d)	31,265		196,032
Gemstar-TV Guide International, Inc. (a)	221,834		1,051,493
Getty Images, Inc. (a)(d)	48,873		1,571,756
Gray Television, Inc.	51,014		295,881
Harris Interactive, Inc. (a)	41,822		113,338
Harte-Hanks, Inc.	44,378		750,432
Hearst-Argyle Television, Inc.	22,579		496,738
Idearc, Inc. (d)	131,424		633,464
Image Entertainment, Inc. (a)	7,100		15,194
Insignia Systems, Inc. (a)	4,959		11,852
Interactive Data Corp.	31,794		930,292
John Wiley & Sons, Inc. Class A	45,838		1,672,170
Journal Communications, Inc. Class A	53,079		365,714
Journal Register Co. (d)	48,545		48,545
Knology, Inc. (a)(d)	30,013		366,759
Lakes Entertainment, Inc. (a)	25,879		152,169
Lamar Advertising Co. Class A (d)	66,890		2,549,178
Lee Enterprises, Inc. (d)	35,207		362,984
Liberty Global, Inc. Class A (a)(d)	361,380		13,587,888
Liberty Media Corp. - Capital Series A (a)	123,649		14,356,885
LIN TV Corp. Class A (a)	30,902		317,364
Live Nation, Inc. (a)	73,951		877,798
LodgeNet Entertainment Corp. (a)(d)	28,428		264,665
Martha Stewart Living Omnimedia, Inc. Class A (a)(d)	21,694		152,726
Marvel Entertainment, Inc. (a)(d)	57,023		1,434,128
Media General, Inc. Class A	21,102		329,191
Mediacom Communications Corp. Class A (a)(d)	57,905		253,045
Morningstar, Inc. (a)	14,583		950,666
National CineMedia, Inc.	43,280		932,684
National Lampoon, Inc. (a)	1,200		2,340
Navarre Corp. (a)	29,406		48,520
New Frontier Media, Inc.	31,250		157,813
New Motion, Inc.	2,087		10,644
	Shares		Value
Nexstar Broadcasting Group, Inc. Class A (a)	3,834		$ 28,372
NTN Communications, Inc. (a)	16,316		9,137
Outdoor Channel Holdings, Inc. (a)	22,403		164,662
Playboy Enterprises, Inc. Class B (non-vtg.) (a)	26,218		211,317
Point.360 (a)	2,433		4,258
PRIMEDIA, Inc. (d)	26,029		200,944
R.H. Donnelley Corp. (a)	66,218		469,486
Radio One, Inc. Class D (non-vtg.) (a)	59,150		74,529
RCN Corp.	41,731		463,214
Reading International, Inc. Class A (a)(d)	10,681		101,576
Regal Entertainment Group Class A	71,702		1,414,680
Regent Communication, Inc. (a)	13,099		11,920
Rentrak Corp. (a)	6,275		69,653
Saga Communications, Inc. Class A (a)	5,932		34,524
Salem Communications Corp. Class A	6,831		22,542
Scholastic Corp. (a)	32,573		1,135,821
Sinclair Broadcast Group, Inc. Class A (d)	58,660		541,432
Sirius Satellite Radio, Inc. (a)(d)	1,241,722		3,526,490
Spanish Broadcasting System, Inc. Class A (a)	67,440		101,160
SPAR Group, Inc. (a)	4,346		5,519
Sun-Times Media Group, Inc. Class A (a)	65,094		57,283
The McClatchy Co. Class A (d)	51,124		490,790
Time Warner Cable, Inc. (a)	142,645		3,894,209
TiVo, Inc. (a)(d)	88,430		767,572
Triple Crown Media, Inc. (a)	2,789		11,017
Valassis Communications, Inc. (a)	47,531		533,298
Value Line, Inc.	523		22,196
Virgin Media, Inc.	280,804		4,212,060
Warner Music Group Corp.	41,805		250,830
Westwood One, Inc.	76,419		135,262
World Wrestling Entertainment, Inc. Class A	21,245		376,037
WorldSpace, Inc. Class A (a)(d)	15,523		17,386
WPT Enterprises, Inc. (a)	6,993		11,189
XM Satellite Radio Holdings, Inc. Class A (a)(d)	301,279		3,555,092
Young Broadcasting, Inc. Class A (a)	4,865		3,843
			95,600,545
Multiline Retail - 0.2%
99 Cents Only Stores (a)(d)	45,295		420,791
Dollar Tree Stores, Inc. (a)	91,386		2,451,886
Duckwall-ALCO Stores, Inc. (a)	5,890		92,296
Fred's, Inc. Class A	37,592		330,058
Gottschalks, Inc. (a)	13,746		31,616
Retail Ventures, Inc. (a)(d)	21,851		147,057
Saks, Inc. (a)	111,932		1,741,662
The Bon-Ton Stores, Inc. (d)	10,212		58,413
Tuesday Morning Corp.	37,215		200,589
			5,474,368
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Specialty Retail - 2.2%
A.C. Moore Arts & Crafts, Inc. (a)	21,246		$ 182,078
Aaron Rents, Inc.	48,602		953,571
Advance Auto Parts, Inc.	92,913		3,116,302
Aeropostale, Inc. (a)	72,947		1,959,356
America's Car Mart, Inc. (a)(d)	10,022		109,240
American Eagle Outfitters, Inc.	176,629		3,774,562
AnnTaylor Stores Corp. (a)	63,417		1,523,276
Asbury Automotive Group, Inc.	37,871		530,951
Barnes & Noble, Inc.	48,758		1,371,075
bebe Stores, Inc.	30,759		375,567
Big 5 Sporting Goods Corp.	20,787		192,280
Big Dog Holdings, Inc. (a)(d)	2,572		27,315
Blockbuster, Inc. Class A (a)(d)	154,797		470,583
Books-A-Million, Inc.	7,672		63,601
Borders Group, Inc.	62,605		579,722
Brown Shoe Co., Inc.	43,077		632,370
Build-A-Bear Workshop, Inc. (a)(d)	15,816		183,782
Cabela's, Inc. Class A (a)(d)	46,846		634,763
Cache, Inc. (a)	21,416		213,303
CarMax, Inc. (a)(d)	204,027		3,745,936
Casual Male Retail Group, Inc. (a)(d)	41,069		158,526
Charlotte Russe Holding, Inc. (a)	19,130		372,461
Charming Shoppes, Inc. (a)(d)	119,389		657,833
Chico's FAS, Inc. (a)	168,814		1,571,658
Christopher & Banks Corp.	39,028		421,502
Citi Trends, Inc. (a)(d)	13,118		190,342
Coldwater Creek, Inc. (a)(d)	51,990		287,505
Collective Brands, Inc. (a)	65,714		1,036,310
Conn's, Inc. (a)(d)	13,453		171,526
Cost Plus, Inc. (a)(d)	14,259		49,907
CSK Auto Corp. (a)(d)	40,616		368,387
Dick's Sporting Goods, Inc. (a)(d)	76,347		2,105,650
Dress Barn, Inc. (a)	40,696		536,373
DSW, Inc. Class A (a)(d)	16,555		301,467
E Com Ventures, Inc. (a)	1,076		24,877
Eddie Bauer Holdings, Inc. (a)(d)	34,117		201,631
Emerging Vision, Inc. (a)	5,700		1,140
Finish Line, Inc. Class A	42,728		120,920
Finlay Enterprises, Inc. (a)	2,122		1,973
Foot Locker, Inc.	142,133		1,748,236
Franklin Covey Co. (a)	19,359		149,451
Gander Mountain Co. (a)(d)	2,718		15,357
Genesco, Inc. (a)	19,789		592,681
Group 1 Automotive, Inc.	23,602		578,249
Guess?, Inc.	51,552		2,120,334
Gymboree Corp. (a)	27,717		1,097,316
Haverty Furniture Companies, Inc.	20,972		205,945
hhgregg, Inc. (d)	12,000		138,480
Hibbett Sports, Inc. (a)	27,021		426,932
Hot Topic, Inc. (a)	39,517		181,383
J. Crew Group, Inc. (a)(d)	42,300		1,694,115
	Shares		Value
Jo-Ann Stores, Inc. (a)	24,709		$ 407,699
Jos. A. Bank Clothiers, Inc. (a)(d)	13,804		314,455
Kirkland's, Inc. (a)	4,549		3,912
Lithia Motors, Inc. Class A (sub. vtg.) (d)	14,522		149,286
Midas, Inc. (a)	16,843		254,835
Monro Muffler Brake, Inc.	25,338		424,412
Mothers Work, Inc. (a)	6,765		135,706
New York & Co., Inc. (a)	16,878		97,892
NexCen Brands, Inc. (a)	42,894		169,002
O'Reilly Automotive, Inc. (a)	109,218		2,944,517
Pacific Sunwear of California, Inc. (a)	70,160		782,986
Penske Auto Group, Inc.	41,735		752,899
PetSmart, Inc.	130,389		2,807,275
Pick Ups Plus, Inc. (a)	73		0
Pier 1 Imports, Inc. (a)	85,092		445,882
Pomeroy IT Solutions, Inc. (a)	3,930		25,820
Rent-A-Center, Inc. (a)	67,681		1,160,729
Restoration Hardware, Inc. (a)	42,873		185,640
Rex Stores Corp. (a)	8,776		162,970
Ross Stores, Inc.	127,985		3,564,382
Sally Beauty Holdings, Inc. (a)	77,094		589,769
Select Comfort Corp. (a)	47,386		202,812
Shoe Carnival, Inc. (a)	10,052		136,205
Sonic Automotive, Inc. Class A (sub. vtg.)	37,224		661,843
Stage Stores, Inc.	43,898		555,749
Stein Mart, Inc.	22,556		133,306
Talbots, Inc. (d)	18,650		152,557
The Buckle, Inc.	16,283		739,248
The Cato Corp. Class A (sub. vtg.)	42,134		659,818
The Children's Place Retail Stores, Inc. (a)	20,849		445,335
The Men's Wearhouse, Inc.	47,136		1,086,013
The Pep Boys - Manny, Moe & Jack (d)	37,359		427,387
Tractor Supply Co. (a)(d)	30,048		1,124,997
Trans World Entertainment Corp. (a)	16,560		66,074
TravelCenters of America LLC (a)	16,738		217,092
Tween Brands, Inc. (a)(d)	27,587		816,575
Ulta Salon, Cosmetics & Fragrance, Inc.	6,447		90,322
Urban Outfitters, Inc. (a)	110,259		3,173,254
West Marine, Inc. (a)	18,151		146,479
Wet Seal, Inc. Class A (a)	80,362		229,835
Williams-Sonoma, Inc. (d)	80,523		1,881,017
Wilsons Leather Experts, Inc. (a)	22,999		15,409
Winmark Corp. (a)	2,614		52,254
Zale Corp. (a)(d)	48,284		932,847
Zumiez, Inc. (a)(d)	16,813		295,573
			67,790,169
Textiles, Apparel & Luxury Goods - 0.7%
Ashworth, Inc. (a)	4,840		16,359
Carter's, Inc. (a)	51,360		792,485
Charles & Colvard Ltd. (d)	5,525		7,072
Cherokee, Inc.	10,151		343,611
Columbia Sportswear Co. (d)	15,887		656,610
Crocs, Inc. (a)(d)	74,870		1,820,838
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Textiles, Apparel & Luxury Goods - continued
Culp, Inc. (a)	4,772		$ 34,836
Deckers Outdoor Corp. (a)	12,130		1,342,063
Delta Apparel, Inc.	6,654		59,021
Forward Industries, Inc. (NY Shares) (a)	5,267		12,114
Fossil, Inc. (a)	47,248		1,520,441
G-III Apparel Group Ltd. (a)	17,169		224,742
Hanesbrands, Inc. (a)(d)	91,818		2,671,904
Hartmarx Corp. (a)	38,879		97,198
Heelys, Inc. (a)(d)	13,425		65,648
Iconix Brand Group, Inc. (a)	56,043		1,164,574
Joe's Jeans, Inc. (a)	3,410		4,092
K-Swiss, Inc. Class A	24,306		352,680
Kenneth Cole Productions, Inc. Class A (sub. vtg.)	15,827		235,347
Maidenform Brands, Inc. (a)	15,537		192,193
Movado Group, Inc.	17,220		331,657
Oxford Industries, Inc.	14,226		300,738
Perry Ellis International, Inc. (a)	13,045		255,552
Phillips-Van Heusen Corp.	54,653		1,995,381
Quiksilver, Inc. (a)	123,224		1,109,016
R.G. Barry Corp. (a)	9,000		71,820
Rocky Brands, Inc. (a)(d)	2,631		14,918
Skechers U.S.A., Inc. Class A (sub. vtg.) (a)	32,318		688,050
Steven Madden Ltd. (a)	18,811		316,777
Tandy Brands Accessories, Inc.	1,058		6,433
Tarrant Apparel Group (a)	9,692		7,754
Timberland Co. Class A (a)	46,306		695,516
True Religion Apparel, Inc. (a)(d)	10,785		220,338
Under Armour, Inc. Class A (sub. vtg.) (a)(d)	26,758		985,230
Unifi, Inc. (a)	31,529		89,542
Unifirst Corp.	11,389		439,957
Volcom, Inc. (a)	13,237		261,695
Warnaco Group, Inc. (a)	43,497		1,633,747
Weyco Group, Inc.	9,210		248,946
Wolverine World Wide, Inc.	53,361		1,414,067
			22,700,962
TOTAL CONSUMER DISCRETIONARY			376,057,906
CONSUMER STAPLES - 3.1%
Beverages - 0.2%
Boston Beer Co., Inc. Class A (a)	12,401		442,220
Central European Distribution Corp. (a)(d)	32,043		1,864,262
Coca-Cola Bottling Co. Consolidated	5,734		313,592
Hansen Natural Corp. (a)(d)	68,805		2,855,408
Jones Soda Co. (a)(d)	20,735		110,518
MGP Ingredients, Inc. (d)	12,581		80,770
National Beverage Corp.	13,356		97,766
	Shares		Value
PepsiAmericas, Inc.	56,457		$ 1,428,362
Vermont Pure Holdings Ltd. (a)	4,384		6,971
			7,199,869
Food & Staples Retailing - 0.5%
Andersons, Inc. (d)	15,227		704,401
Arden Group, Inc. Class A	749		99,632
BJ's Wholesale Club, Inc. (a)	60,591		1,912,252
Casey's General Stores, Inc.	49,455		1,238,848
Ingles Markets, Inc. Class A	12,038		289,032
Longs Drug Stores Corp.	29,849		1,433,647
Nash-Finch Co.	12,986		455,419
Performance Food Group Co. (a)	37,458		1,217,385
Pricesmart, Inc.	21,057		510,843
Rite Aid Corp. (a)(d)	504,457		1,346,900
Ruddick Corp.	33,688		1,086,438
Spartan Stores, Inc.	26,862		566,251
Susser Holdings Corp. (a)	10,293		249,296
The Great Atlantic & Pacific Tea Co. (a)	22,841		618,534
The Pantry, Inc. (a)	19,706		474,126
United Natural Foods, Inc. (a)	38,239		647,004
Village Super Market, Inc. Class A	2,000		88,400
Weis Markets, Inc.	10,603		343,643
Winn-Dixie Stores, Inc. (a)	51,133		836,025
			14,118,076
Food Products - 1.4%
Alico, Inc.	3,393		138,604
B&G Foods, Inc. Class A	20,207		200,858
Bridgford Foods Corp. (a)	4,789		29,500
Bunge Ltd. (d)	115,512		12,803,350
Cal-Maine Foods, Inc. (d)	15,000		517,500
Calavo Growers, Inc.	15,506		297,250
Chiquita Brands International, Inc. (a)(d)	41,815		855,953
Corn Products International, Inc.	65,754		2,413,829
Darling International, Inc. (a)	75,439		1,048,602
Del Monte Foods Co.	182,122		1,635,456
Diamond Foods, Inc.	17,088		280,243
Farmer Brothers Co.	6,050		135,097
Flowers Foods, Inc.	81,863		1,855,016
Fresh Del Monte Produce, Inc. (a)	43,115		1,431,849
Galaxy Nutritional Foods, Inc. (a)	5,579		1,060
Green Mountain Coffee Roasters, Inc. (a)	18,699		570,506
Griffin Land & Nurseries, Inc.	1,112		40,755
Hain Celestial Group, Inc. (a)	39,916		1,077,732
Hormel Foods Corp.	66,311		2,709,467
Imperial Sugar Co. (d)	11,785		226,272
J&J Snack Foods Corp.	13,008		320,647
John B. Sanfilippo & Son, Inc. (a)	4,719		44,028
Lancaster Colony Corp.	22,977		853,136
Lance, Inc.	30,597		512,500
Lifeway Foods, Inc. (a)(d)	9,724		101,519
Maui Land & Pineapple, Inc. (a)	3,029		79,239
Monterey Gourmet Foods, Inc. (a)	4,304		11,836
Omega Protein Corp. (a)	5,131		54,389
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Food Products - continued
Overhill Farms, Inc. (a)(d)	28,537		$ 122,138
Pilgrims Pride Corp. Class B	35,403		830,554
Ralcorp Holdings, Inc. (a)	23,029		1,276,958
Reddy Ice Holdings, Inc.	20,133		474,535
Sanderson Farms, Inc. (d)	18,882		658,227
Seaboard Corp.	345		548,550
Smithfield Foods, Inc. (a)	117,611		3,240,183
Tasty Baking Co.	4,304		29,482
The Inventure Group, Inc. (a)	3,448		7,551
The J.M. Smucker Co.	54,685		2,799,325
Tootsie Roll Industries, Inc. (d)	28,573		692,324
TreeHouse Foods, Inc. (a)	30,628		679,023
Zapata Corp. (a)	6,888		48,560
			41,653,603
Household Products - 0.3%
Central Garden & Pet Co. Class A (non-vtg.) (a)	62,993		277,169
Church & Dwight Co., Inc.	63,717		3,406,311
Energizer Holdings, Inc. (a)	54,452		5,054,779
Oil-Dri Corp. of America	5,650		109,328
Orchids Paper Products Co. (a)	7,624		58,781
Spectrum Brands, Inc. (a)(d)	28,099		105,652
WD-40 Co.	15,894		493,986
			9,506,006
Personal Products - 0.4%
Alberto-Culver Co.	84,064		2,252,915
Bare Escentuals, Inc. (a)(d)	41,930		1,148,043
Chattem, Inc. (a)(d)	16,678		1,299,216
Elizabeth Arden, Inc. (a)	27,122		494,163
Herbalife Ltd.	49,980		2,090,663
Integrated Biopharma, Inc. (a)	2,198		6,836
Inter Parfums, Inc.	16,002		259,872
Mannatech, Inc. (d)	11,829		92,030
MediFast, Inc. (a)	7,496		31,483
Natural Health Trends Corp. (a)(d)	8,588		8,416
NBTY, Inc. (a)	56,581		1,615,953
Nu Skin Enterprises, Inc. Class A	51,797		857,758
Nutraceutical International Corp. (a)	13,525		172,309
Parlux Fragrances, Inc. (a)	13,118		44,339
Physicians Formula Holdings, Inc. (a)	15,509		122,211
Prestige Brands Holdings, Inc. (a)	32,948		254,029
Reliv International, Inc.	10,690		71,623
Revlon, Inc. Class A (sub. vtg.) (a)	149,994		152,994
Schiff Nutrition International, Inc.	11,731		71,207
USANA Health Sciences, Inc. (a)(d)	10,065		313,827
			11,359,887
Tobacco - 0.3%
Alliance One International, Inc. (a)	93,273		457,038
Loews Corp. - Carolina Group	105,583		7,949,344
Star Scientific, Inc. (a)	42,163		78,423
	Shares		Value
Universal Corp.	26,078		$ 1,484,099
Vector Group Ltd. (d)	41,933		770,729
			10,739,633
TOTAL CONSUMER STAPLES			94,577,074
ENERGY - 10.1%
Energy Equipment & Services - 2.9%
Allis-Chalmers Energy, Inc. (a)(d)	28,164		355,430
Atwood Oceanics, Inc. (a)	24,867		2,314,869
Basic Energy Services, Inc. (a)(d)	28,570		604,541
Bolt Technology Corp. (a)(d)	9,622		167,327
Boots & Coots/International Well Control, Inc. (a)	49,367		74,051
Bristow Group, Inc. (a)	20,474		1,080,208
Bronco Drilling Co., Inc. (a)(d)	30,147		476,624
Cal Dive International, Inc. (a)	35,768		372,703
Carbo Ceramics, Inc. (d)	20,529		758,341
Complete Production Services, Inc. (a)	39,606		769,149
Dawson Geophysical Co. (a)	7,711		507,924
Diamond Offshore Drilling, Inc.	61,585		7,441,316
Dresser-Rand Group, Inc. (a)	81,892		2,790,060
Dril-Quip, Inc. (a)	26,797		1,253,564
ENGlobal Corp. (a)(d)	20,365		188,173
Exterran Holdings, Inc. (a)(d)	63,489		4,422,009
FMC Technologies, Inc. (a)	124,320		7,043,971
Global Industries Ltd. (a)	83,764		1,542,095
Grant Prideco, Inc. (a)	121,336		6,123,828
Grey Wolf, Inc. (a)	170,607		1,057,763
Gulf Island Fabrication, Inc.	13,541		394,991
Gulfmark Offshore, Inc. (a)	18,266		925,356
Helix Energy Solutions Group, Inc. (a)	76,747		2,703,029
Helmerich & Payne, Inc.	85,459		3,831,127
Hercules Offshore, Inc. (a)(d)	84,797		2,148,756
Hornbeck Offshore Services, Inc. (a)(d)	22,809		1,024,808
ION Geophysical Corp. (a)	63,629		845,629
Key Energy Services, Inc. (a)	119,800		1,618,498
Lufkin Industries, Inc.	15,225		870,261
Matrix Service Co. (a)	23,240		472,702
Mitcham Industries, Inc. (a)	14,875		262,544
NATCO Group, Inc. Class A (a)	13,766		655,950
Natural Gas Services Group, Inc. (a)	16,146		361,670
Newpark Resources, Inc. (a)	84,907		376,138
Oceaneering International, Inc. (a)	50,545		3,032,700
Oil States International, Inc. (a)	47,754		2,013,309
Omni Energy Services Corp. (a)(d)	11,673		47,626
OYO Geospace Corp. (a)	5,097		245,370
Parker Drilling Co. (a)	119,867		794,718
Particle Drilling Technologies, Inc. (a)	18,049		35,196
Patterson-UTI Energy, Inc.	146,777		3,483,018
PHI, Inc. (non-vtg.) (a)	12,064		365,057
Pioneer Drilling Co. (a)	49,528		664,170
Pride International, Inc. (a)	155,116		5,497,311
Royale Energy, Inc.	5,582		19,370
Common Stocks - continued
	Shares		Value
ENERGY - continued
Energy Equipment & Services - continued
RPC, Inc. (d)	46,402		$ 611,114
SEACOR Holdings, Inc. (a)	27,260		2,616,687
Sulphco, Inc. (a)(d)	45,227		190,406
Superior Energy Services, Inc. (a)	77,857		3,168,001
Superior Offshore International, Inc. (d)	11,981		46,846
Superior Well Services, Inc. (a)	16,970		438,675
T-3 Energy Services, Inc. (a)	12,234		603,993
TETRA Technologies, Inc. (a)	75,099		1,290,201
TGC Industries, Inc.	12,744		101,442
Tidewater, Inc.	52,328		2,938,217
Trico Marine Services, Inc. (a)(d)	12,275		485,108
Union Drilling, Inc. (a)	22,965		459,759
Unit Corp. (a)	43,552		2,401,893
W-H Energy Services, Inc. (a)	29,097		1,829,328
			89,214,920
Oil, Gas & Consumable Fuels - 7.2%
Abraxas Petroleum Corp. (a)	50,751		190,316
Adams Resources & Energy, Inc.	12,021		297,520
Alliance Holdings GP, LP	13,326		307,964
Alliance Resource Partners LP	22,557		855,361
Alon USA Energy, Inc.	26,000		407,940
Alpha Natural Resources, Inc. (a)	69,639		2,823,165
American Oil & Gas, Inc. NV (a)	44,073		211,550
APCO Argentina, Inc. (d)	10,824		205,440
Arch Coal, Inc.	136,854		6,991,871
Arena Resources, Inc. (a)	34,093		1,380,085
Arlington Tankers Ltd. (d)	22,423		450,702
Atlas America, Inc.	25,272		1,528,198
Atlas Energy Resources LLC (d)	12,138		403,953
Atlas Pipeline Partners, LP	34,131		1,512,003
ATP Oil & Gas Corp. (a)	29,925		1,054,856
Aurora Oil & Gas Corp. (a)	68,197		45,010
Aventine Renewable Energy Holdings, Inc. (a)(d)	36,127		232,297
Barnwell Industries, Inc.	3,174		34,438
Berry Petroleum Co. Class A	34,508		1,418,624
Bill Barrett Corp. (a)(d)	27,114		1,256,463
Boardwalk Pipeline Partners, LP	28,197		668,833
Bois d'Arc Energy LLC (a)	20,456		439,190
BP Prudhoe Bay Royalty Trust (d)	26,130		2,256,326
BPZ Energy, Inc. (a)(d)	56,851		896,540
Brigham Exploration Co. (a)	55,937		436,868
Buckeye GP Holdings LP	13,298		373,009
Buckeye Partners LP	43,206		2,120,550
Cabot Oil & Gas Corp.	92,369		4,595,358
Callon Petroleum Co. (a)	25,157		463,895
Calumet Specialty Products Partners LP	13,761		415,169
Cano Petroleum, Inc. (a)	34,480		225,844
Carrizo Oil & Gas, Inc. (a)	25,987		1,500,749
Cheniere Energy, Inc. (a)(d)	47,896		1,404,790
Cimarex Energy Co.	90,607		4,774,989
	Shares		Value
Clayton Williams Energy, Inc. (a)	4,863		$ 184,065
Clean Energy Fuels Corp.	24,801		378,959
CNX Gas Corp. (a)	31,667		1,159,646
Comstock Resources, Inc. (a)	41,994		1,524,382
Concho Resources, Inc.	30,109		701,540
Contango Oil & Gas Co. (a)	14,632		940,838
Continental Resources, Inc.	41,754		1,172,452
Copano Energy LLC	40,963		1,493,101
CREDO Petroleum Corp. (a)	9,108		96,089
Cross Timbers Royalty Trust	7,215		339,249
Crosstex Energy LP	21,913		692,670
Crosstex Energy, Inc.	57,629		2,060,237
CVR Energy, Inc. (d)	25,707		722,367
DCP Midstream Partners LP	11,428		414,379
Delek US Holdings, Inc.	23,193		365,986
Delta Petroleum Corp. (a)(d)	68,419		1,639,319
Denbury Resources, Inc. (a)	233,778		7,455,180
Dorchester Minerals LP	21,735		462,521
Double Eagle Petroleum Co. (a)(d)	8,444		142,872
Double Hull Tankers, Inc. (d)	44,800		504,000
Edge Petroleum Corp. (a)(d)	51,074		245,155
El Paso Pipeline Partners LP	19,533		457,854
Enbridge Energy Management LLC	11,717		612,799
Enbridge Energy Partners LP	47,047		2,351,409
Encore Acquisition Co. (a)	47,839		1,760,475
Endeavor International Corp. (a)	74,100		96,330
Energy Partners Ltd. (a)	39,100		420,716
Energy Transfer Equity LP	123,518		4,108,209
Energy Transfer Partners LP	86,259		4,133,531
Enterprise GP Holdings LP	6,986		219,500
Enterprise Products Partners LP	261,146		8,087,692
Evergreen Energy, Inc. (a)(d)	63,376		136,258
EXCO Resources, Inc. (a)(d)	84,626		1,468,261
Forest Oil Corp. (a)	73,137		3,607,848
Foundation Coal Holdings, Inc.	44,020		2,543,035
Frontier Oil Corp.	110,125		3,932,564
FX Energy, Inc. (a)(d)	47,522		222,878
Gasco Energy, Inc. (a)	60,806		158,096
General Maritime Corp. (d)	25,371		597,233
Genesis Energy LP	11,331		243,617
Geomet, Inc. (a)	18,693		112,158
Global Partners LP	5,000		136,600
GMX Resources, Inc. (a)(d)	12,141		351,968
Goodrich Petroleum Corp. (a)(d)	24,674		595,384
Green Plains Renewable Energy, Inc. (a)	3,244		28,872
Gulfport Energy Corp. (a)	28,010		404,464
Harvest Natural Resources, Inc. (a)	43,807		537,074
Hiland Partners LP	2,430		123,177
HKN, Inc. (a)	2,038		17,710
Holly Corp.	48,622		2,595,929
Holly Energy Partners LP	8,815		362,120
Houston American Energy Corp. (a)	20,000		85,400
Hugoton Royalty Trust	36,266		1,024,515
Hyperdynamics Corp. (a)(d)	30,744		43,964
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Inergy Holdings LP	5,264		$ 232,669
Inergy LP	40,677		1,188,175
Infinity Energy Resources, Inc. (a)	5,988		2,635
International Coal Group, Inc. (a)(d)	118,649		737,997
James River Coal Co. (a)(d)	25,621		433,764
K-Sea Transn Partners LP	4,670		168,727
Kinder Morgan Energy Partners LP	143,719		8,258,094
Kinder Morgan Management LLC	69,275		3,776,180
Linn Energy LLC (d)	111,489		2,541,949
Magellan Midstream Holdings LP	20,924		538,165
Magellan Midstream Partners LP	64,229		2,781,758
Mariner Energy, Inc. (a)	78,647		2,180,881
Markwest Energy Partners LP	48,671		1,679,150
Martin Midstream Partners LP	4,000		135,480
Massey Energy Co.	74,945		2,867,396
McMoRan Exploration Co. (a)(d)	44,749		751,783
Meridian Resource Corp. (a)	58,885		91,272
National Energy Group, Inc.	5,079		19,910
Natural Resource Partners LP	30,154		967,340
Newfield Exploration Co. (a)	115,724		6,408,795
NGAS Resources, Inc. (a)	16,181		98,866
NuStar Energy LP	37,200		1,986,852
NuStar GP Holdings LLC	38,770		1,052,218
ONEOK Partners LP	46,451		2,881,356
Overseas Shipholding Group, Inc.	26,557		1,665,655
Pacific Ethanol, Inc. (a)(d)	36,225		179,676
Panhandle Royalty Co. Class A	14,442		440,914
Parallel Petroleum Corp. (a)	42,415		783,829
Patriot Coal Corp. (a)(d)	24,300		1,304,910
Penn Virginia Corp.	36,050		1,534,288
Penn Virginia Resource Partners LP	21,949		586,916
Petrohawk Energy Corp. (a)	162,963		2,946,371
Petroleum Development Corp. (a)	16,425		1,145,808
Petroquest Energy, Inc. (a)	42,033		662,440
Pioneer Natural Resources Co.	114,272		5,118,243
Plains Exploration & Production Co. (a)	106,065		5,727,510
PrimeEnergy Corp. (a)	1,965		106,169
Quest Resource Corp. (a)	39,088		277,525
Quicksilver Resources, Inc. (a)	101,080		3,477,152
Regency Energy Partners LP	34,050		1,009,923
Rentech, Inc. (a)	183,018		230,603
Rio Vista Energy Partners LP	601		8,877
Rosetta Resources, Inc. (a)	54,725		1,119,674
SandRidge Energy, Inc. (d)	31,403		1,182,009
Semgroup Energy Partners LP	14,471		360,762
Ship Finance International Ltd. (NY Shares)	42,149		1,089,130
Southwestern Energy Co. (a)	162,336		10,589,177
St. Mary Land & Exploration Co.	58,980		2,175,182
Stone Energy Corp. (a)	30,129		1,529,348
Sunoco Logistics Partners LP	12,042		644,247
	Shares		Value
Swift Energy Co. (a)	28,385		$ 1,354,816
Syntroleum Corp. (a)	20,072		14,050
Targa Resources Partners LP	28,670		694,961
TC Pipelines LP	15,262		521,503
Teekay Corp. (d)	38,861		1,670,246
Teekay LNG Partners LP	13,806		414,870
TEPPCO Partners LP	65,298		2,465,652
Toreador Resources Corp. (a)(d)	15,374		144,208
Transmeridian Exploration, Inc. (a)(d)	56,402		70,503
Tri-Valley Corp. (a)(d)	35,638		226,301
TXCO Resources, Inc. (a)(d)	41,042		571,305
Ultra Petroleum Corp. (a)	146,204		11,472,628
Uranerz Energy Corp. (a)(d)	28,590		80,052
Uranium Resources, Inc. (a)(d)	45,900		435,132
US BioEnergy Corp. (a)	56,461		413,859
USEC, Inc. (a)(d)	97,873		624,430
Vaalco Energy, Inc. (a)	54,892		244,818
Venoco, Inc. (a)	21,009		274,378
VeraSun Energy Corp. (a)(d)	62,589		565,805
Verenium Corp. (a)(d)	47,369		141,633
W&T Offshore, Inc.	29,480		1,045,950
Warren Resources, Inc. (a)	58,208		778,823
Western Refining, Inc. (d)	39,393		784,709
Westmoreland Coal Co. (a)	7,132		113,969
Whiting Petroleum Corp. (a)	40,981		2,508,857
Williams Partners LP	30,931		1,148,468
World Fuel Services Corp.	28,500		891,480
			223,803,669
TOTAL ENERGY			313,018,589
FINANCIALS - 21.7%
Capital Markets - 2.0%
Affiliated Managers Group, Inc. (a)(d)	26,470		2,550,385
AllianceBernstein Holding LP	24,650		1,529,533
BlackRock, Inc. Class A	19,177		3,705,955
Calamos Asset Management, Inc. Class A	22,301		410,115
Cohen & Steers, Inc. (d)	16,556		416,880
Cowen Group, Inc. (a)	23,319		174,893
Diamond Hill Investment Group, Inc. (a)	2,300		179,975
Eaton Vance Corp. (non-vtg.)	118,842		3,785,118
Epoch Holding Corp.	16,336		183,127
Evercore Partners, Inc. Class A	13,116		257,598
FBR Capital Markets Corp. (d)	34,623		242,015
FCStone Group, Inc.	16,550		771,892
FirstCity Financial Corp. (a)	5,260		46,341
Fortress Investment Group LLC (d)	35,000		490,000
GAMCO Investors, Inc. Class A	5,578		312,480
GFI Group, Inc. (a)	14,892		1,139,983
GLG Partners, Inc. (a)(d)	223,700		2,910,337
Greenhill & Co., Inc.	12,078		785,191
HFF, Inc.	16,711		122,325
International Assets Holding Corp. (a)(d)	2,986		79,756
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Capital Markets - continued
Invesco Ltd.	397,425		$ 10,178,054
Investment Technology Group, Inc. (a)	42,784		1,992,879
Jefferies Group, Inc.	100,404		1,782,171
JMP Group, Inc.	1,543		10,816
KBW, Inc. (a)(d)	27,796		596,780
Knight Capital Group, Inc. Class A (a)	100,327		1,608,242
LaBranche & Co., Inc. (a)(d)	67,729		314,263
Ladenburg Thalmann Financial Services, Inc. (a)(d)	96,420		169,699
Lazard Ltd. Class A	47,916		1,829,912
MCF Corp. (a)	10,677		53,599
MF Global Ltd.	91,946		1,613,652
National Holdings Corp. (a)	1,000		2,160
Och-Ziff Capital Management Group LLC Class A (d)	35,000		809,900
optionsXpress Holdings, Inc.	47,759		1,106,098
Penson Worldwide, Inc. (a)	16,747		171,154
Piper Jaffray Companies (a)	18,377		711,741
Raymond James Financial, Inc.	91,338		2,052,365
Riskmetrics Group, Inc.	13,000		280,800
Sanders Morris Harris Group, Inc. (d)	20,371		181,913
SEI Investments Co.	136,856		3,422,769
Siebert Financial Corp.	7,668		25,228
Stifel Financial Corp. (a)	13,786		600,932
SWS Group, Inc.	36,320		413,685
TD Ameritrade Holding Corp. (a)(d)	225,785		4,131,866
The Blackstone Group LP	136,966		2,259,939
Thomas Weisel Partners Group, Inc. (a)	28,776		253,229
TradeStation Group, Inc. (a)	36,944		354,662
U.S. Global Investments, Inc. Class A (d)	17,919		301,935
W.P. Carey & Co. LLC	25,325		823,316
W.P. Stewart & Co. Ltd. (d)	19,230		38,460
Waddell & Reed Financial, Inc. Class A	88,768		2,781,989
Westwood Holdings Group, Inc.	3,071		108,898
			61,077,005
Commercial Banks - 3.6%
1st Source Corp.	14,667		256,086
Abigail Adams National Bancorp, Inc.	3,050		31,629
Abington Bancorp, Inc.	16,672		167,220
Amcore Financial, Inc.	18,595		361,115
American National Bankshares, Inc.	2,434		53,986
AmericanWest Bancorp	13,795		121,810
Ameris Bancorp	15,734		223,737
AmeriServ Financial, Inc. (a)	8,597		24,931
Ames National Corp. (d)	14,284		272,110
Arrow Financial Corp.	6,308		131,333
Associated Banc-Corp.	110,783		2,760,712
BancFirst Corp.	10,580		445,735
Bancorp, Inc., Delaware (a)	13,627		155,893
BancorpSouth, Inc.	73,818		1,659,429
BancTrust Financial Group, Inc.	10,257		112,724
	Shares		Value
Bank of Florida Corp. (a)	9,353		$ 87,544
Bank of Granite Corp.	16,693		199,314
Bank of Hawaii Corp.	40,866		1,962,385
Bank of Marin Bancorp	4,442		133,260
Bank of the Ozarks, Inc.	12,728		301,017
Banner Corp. (d)	18,057		391,115
Bar Harbor Bankshares	2,569		79,511
BOK Financial Corp.	23,857		1,233,884
Boston Private Financial Holdings, Inc.	38,883		535,419
Bryn Mawr Bank Corp.	2,058		40,337
Cadence Financial Corp.	15,524		237,983
Camden National Corp.	7,896		250,540
Capital Bank Corp.	4,787		48,061
Capital City Bank Group, Inc. (d)	14,530		391,002
Capital Corp. of the West	13,704		188,430
Capitol Bancorp Ltd. (d)	14,433		268,742
Cardinal Financial Corp.	17,899		142,297
Cascade Bancorp (d)	24,935		253,340
Cascade Financial Corp.	13,915		176,164
Cathay General Bancorp (d)	48,497		1,063,054
Centennial Bank Holdings, Inc., Delaware (a)	46,113		273,450
Center Bancorp, Inc.	10,005		111,556
Center Financial Corp., California	17,368		168,991
Central Pacific Financial Corp.	27,843		514,817
Century Bancorp, Inc. Class A (non-vtg.)	2,001		41,021
Chemical Financial Corp.	27,387		608,539
Citizens & Northern Corp.	6,760		135,268
Citizens Banking Corp., Michigan	70,265		782,049
Citizens Financial Services, Inc.	1,530		33,660
City Bank Lynnwood, Washington	16,408		302,564
City Holding Co.	20,606		767,367
City National Corp.	37,187		1,905,834
CoBiz, Inc.	19,397		238,389
Colonial Bancgroup, Inc. (d)	150,334		1,816,035
Colony Bankcorp, Inc.	4,000		52,000
Columbia Bancorp, Oregon	11,500		163,875
Columbia Banking Systems, Inc.	19,684		454,504
Commerce Bancshares, Inc.	63,660		2,651,439
Community Bancorp (a)	12,885		158,486
Community Bank System, Inc.	31,014		685,409
Community Bankshares, Inc., South Carolina	3,531		44,491
Community Capital Corp.	2,185		33,758
Community Trust Bancorp, Inc.	18,280		494,474
Cullen/Frost Bankers, Inc.	56,127		2,869,212
CVB Financial Corp. (d)	78,714		723,382
Dearborn Bancorp, Inc. (a)	11,262		78,721
East West Bancorp, Inc.	56,972		1,071,643
Eastern Virgina Bankshares, Inc.	3,012		52,620
Enterprise Financial Services Corp. (d)	14,184		283,822
EuroBancshares, Inc. (a)(d)	10,674		69,701
Fidelity Southern Corp.	4,918		39,098
Financial Institutions, Inc.	5,570		103,101
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
First Bancorp, North Carolina	17,078		$ 302,451
First Bancorp, Puerto Rico (d)	72,615		656,440
First Charter Corp.	35,619		862,336
First Citizen Bancshares, Inc.	5,650		803,374
First Commonwealth Financial Corp. (d)	70,953		750,683
First Community Bancorp, California	26,823		764,456
First Community Bancshares, Inc.	12,000		379,800
First Financial Bancorp, Ohio	38,308		443,990
First Financial Bankshares, Inc.	18,789		711,539
First Financial Corp., Indiana	10,060		264,075
First M&F Corp.	1,684		25,614
First Mariner Bancorp, Inc. (a)	999		6,284
First Merchants Corp.	17,779		480,211
First Midwest Bancorp, Inc., Delaware	56,884		1,481,828
First of Long Island Corp.	1,872		35,063
First Regional Bancorp (a)	14,196		227,278
First Security Group, Inc.	10,700		97,049
First South Bancorp, Inc., Virginia (d)	5,916		116,427
First State Bancorp.	23,559		279,881
First United Corp.	5,930		115,042
Firstbank Corp., Michigan	7,615		103,107
FirstMerit Corp.	72,227		1,355,701
FNB Corp., North Carolina	14,866		172,446
FNB Corp., Pennsylvania (d)	60,834		834,034
Frontier Financial Corp., Washington (d)	43,151		646,402
Fulton Financial Corp.	155,361		1,806,848
Gateway Financial Holdings, Inc.	10,000		114,500
GB&T Bancshares, Inc.	15,000		133,500
German American Bancorp, Inc.	17,151		215,931
Glacier Bancorp, Inc. (d)	50,207		863,058
Great Southern Bancorp, Inc. (d)	12,120		217,554
Greater Community Bancorp	4,530		69,354
Green Bankshares, Inc.	14,985		273,027
Hancock Holding Co.	26,898		996,302
Hanmi Financial Corp.	48,770		372,115
Harleysville National Corp., Pennsylvania	41,652		553,555
Harrington West Financial Group, Inc.	4,000		41,680
Hawthorn Bancshares, Inc.	5,406		147,314
Heartland Financial USA, Inc.	14,000		248,920
Heritage Commerce Corp.	8,124		133,884
Heritage Financial Corp., Washington	4,130		80,907
Home Bancshares, Inc.	16,000		319,680
Horizon Financial Corp.	17,153		219,558
IBERIABANK Corp.	10,577		470,359
Independent Bank Corp., Massachusetts	19,105		505,709
Independent Bank Corp., Michigan	20,910		204,082
Integra Bank Corp.	19,801		281,372
International Bancshares Corp.	65,941		1,429,601
Intervest Bancshares Corp. Class A	9,743		129,582
Irwin Financial Corp.	23,780		178,588
Lakeland Bancorp, Inc.	15,435		171,946
	Shares		Value
Lakeland Financial Corp.	10,412		$ 212,405
Leesport Financial Corp.	2,051		36,405
Macatawa Bank Corp. (d)	20,513		189,130
MainSource Financial Group, Inc.	21,369		280,148
MB Financial, Inc.	36,946		1,062,936
MBT Financial Corp. (d)	10,000		84,500
Mercantile Bancorp, Inc., Illinois (d)	5,364		97,625
Mercantile Bank Corp.	8,789		118,652
Merchants Bancshares, Inc.	6,649		153,326
Metrocorp Bancshares, Inc.	4,282		57,764
Midsouth Bancorp, Inc.	3,481		76,930
Midwest Banc Holdings, Inc. (d)	27,414		281,542
MidWestOne Financial Group, Inc.	3,499		57,244
Nara Bancorp, Inc.	25,509		279,579
National Penn Bancshares, Inc. (d)	86,164		1,379,486
NBT Bancorp, Inc.	33,577		643,671
NewBridge Bancorp	11,690		112,692
Nexity Financial Corp. (a)	5,000		37,900
North Valley Bancorp	11,383		146,955
Northern States Financial Corp.	2,836		59,840
Northfield Bancorp, Inc. (a)(d)	15,481		158,525
Northrim Bancorp, Inc.	1,031		22,208
Ohio Valley Banc Corp.	6,000		150,000
Old National Bancorp, Indiana	67,448		1,046,793
Old Second Bancorp, Inc.	20,047		516,411
Omega Financial Corp.	15,941		438,537
Oriental Financial Group, Inc.	29,839		621,248
PAB Bankshares, Inc.	7,746		91,558
Pacific Capital Bancorp (d)	46,823		980,942
Pacific Mercantile Bancorp	7,285		71,320
Park National Corp. (d)	16,668		1,008,414
Peapack-Gladstone Financial Corp.	4,448		114,180
Pennsylvania Communication Bancorp, Inc. (a)	3,180		84,238
Peoples Bancorp, Inc.	11,922		258,946
Peoples Financial Corp., Mississippi	4,312		104,566
Pinnacle Financial Partners, Inc. (a)(d)	14,923		342,334
Popular, Inc.	232,248		2,564,018
Preferred Bank, Los Angeles California	10,547		193,221
PremierWest Bancorp (d)	18,613		201,393
Princeton National Bancorp, Inc.	2,512		68,326
PrivateBancorp, Inc. (d)	22,387		673,625
Prosperity Bancshares, Inc. (d)	41,637		1,099,217
Provident Bankshares Corp.	45,394		577,866
QCR Holdings, Inc.	4,300		68,972
Renasant Corp.	26,369		555,331
Republic Bancorp, Inc., Kentucky Class A	17,002		278,153
Republic First Bancorp, Inc.	7,220		44,764
Royal Bancshares of Pennsylvania, Inc. Class A (d)	6,704		89,498
Royal Bank of Canada	5,130		257,477
S&T Bancorp, Inc. (d)	28,241		800,632
S.Y. Bancorp, Inc.	10,778		236,793
Sandy Spring Bancorp, Inc.	14,316		389,538
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Santander Bancorp	4,969		$ 57,690
Savannah Bancorp, Inc.	3,956		62,347
SCBT Financial Corp.	8,400		251,244
Seacoast Banking Corp., Florida (d)	17,060		170,600
Security Bank Corp., Georgia (d)	18,190		123,328
Shore Bancshares, Inc.	5,814		122,327
Sierra Bancorp (d)	13,100		293,047
Signature Bank, New York (a)	26,946		714,069
Simmons First National Corp. Class A	9,580		244,769
Smithtown Bancorp, Inc.	10,655		220,026
South Financial Group, Inc.	74,749		1,078,628
Southside Bancshares, Inc.	14,702		305,361
Southwest Bancorp, Inc., Oklahoma	17,075		276,444
Southwest Georgia Financial Corp.	835		14,821
State Bancorp, Inc., New York	5,592		72,528
StellarOne Corp. (d)	20,357		352,176
Sterling Bancorp, New York	25,378		357,322
Sterling Bancshares, Inc.	80,143		746,131
Sterling Financial Corp., Pennsylvania	21,909		366,538
Sterling Financial Corp., Washington	44,886		668,353
Suffolk Bancorp (d)	13,174		393,507
Summit Financial Group, Inc.	1,800		26,154
Sun Bancorp, Inc., New Jersey	23,997		306,202
Superior Bancorp (a)(d)	57,206		298,615
Susquehanna Bancshares, Inc., Pennsylvania	107,746		2,143,068
SVB Financial Group (a)	32,531		1,473,654
Synovus Financial Corp. (d)	255,000		2,940,150
Taylor Capital Group, Inc.	10,172		165,804
TCF Financial Corp.	116,806		2,173,760
Temecula Valley Bancorp, Inc.	12,685		129,387
Tennessee Commerce Bancorp, Inc. (a)(d)	4,775		104,143
Texas Capital Bancshares, Inc. (a)	26,602		397,966
TIB Financial Corp.	6,654		46,312
Tompkins Financial Corp.	6,989		307,865
Trico Bancshares	12,477		210,487
Trustmark Corp.	54,098		1,068,976
UCBH Holdings, Inc. (d)	101,194		1,142,480
UMB Financial Corp.	31,832		1,218,529
Umpqua Holdings Corp. (d)	58,360		826,961
Union Bankshares Corp.	11,934		208,726
UnionBanCal Corp.	51,531		2,399,799
United Bankshares, Inc., West Virginia	43,252		1,136,230
United Community Banks, Inc., Georgia	45,669		650,327
United Security Bancshares, California (d)	6,270		84,018
Univest Corp. of Pennsylvania (d)	14,500		296,815
Valley National Bancorp	110,948		2,072,509
Vineyard National Bancorp (d)	15,384		138,610
Virginia Commerce Bancorp, Inc. (d)	16,530		166,622
W Holding Co., Inc. (d)	130,070		170,392
	Shares		Value
Washington Banking Co., Oak Harbor	4,700		$ 68,714
Washington Trust Bancorp, Inc.	16,161		373,642
Webster Financial Corp.	50,438		1,410,751
WesBanco, Inc.	30,295		705,571
West Bancorp., Inc.	13,500		172,260
West Coast Bancorp, Oregon	15,866		237,990
Westamerica Bancorp. (d)	26,229		1,241,419
Western Alliance Bancorp. (a)(d)	21,702		259,990
Whitney Holding Corp.	81,558		1,958,208
Wilmington Trust Corp., Delaware	59,049		1,818,709
Wilshire Bancorp, Inc.	23,616		167,201
Wintrust Financial Corp.	23,488		792,720
			112,466,328
Consumer Finance - 0.2%
Advance America Cash Advance Centers, Inc.	55,072		409,185
Advanta Corp. Class B	39,251		303,018
AmeriCredit Corp. (a)(d)	102,412		1,472,685
Cash America International, Inc.	28,584		924,978
Cash Systems, Inc. (a)	14,761		59,339
CompuCredit Corp. (a)(d)	28,435		295,155
Consumer Portfolio Services, Inc. (a)	11,918		37,423
Credit Acceptance Corp. (a)(d)	5,307		80,560
Dollar Financial Corp. (a)	26,308		591,141
EZCORP, Inc. (non-vtg.) Class A (a)	37,119		435,406
First Cash Financial Services, Inc. (a)	24,985		233,610
First Marblehead Corp. (d)	55,188		663,912
Nelnet, Inc. Class A	21,679		236,301
QC Holdings, Inc. (d)	10,421		85,556
Rewards Network, Inc. (a)	22,487		103,440
Student Loan Corp.	3,846		424,983
United Panam Financial Corp. (a)(d)	5,347		20,853
World Acceptance Corp. (a)(d)	13,975		424,561
			6,802,106
Diversified Financial Services - 0.5%
Ampal-American Israel Corp. Class A (a)(d)	4,585		29,573
Asset Acceptance Capital Corp.	17,141		167,125
Asta Funding, Inc. (d)	11,285		182,591
Broadpoint Securities Group, Inc. (a)	2,377		3,803
California First National Bancorp	4,060		42,630
Catskill Litigation Trust (a)	1,036		0
Encore Capital Group, Inc. (a)(d)	26,184		193,238
Financial Federal Corp.	24,580		529,699
Interactive Brokers Group, Inc. (d)	39,054		1,213,408
KKR Financial Holdings LLC	104,300		1,500,877
MarketAxess Holdings, Inc. (a)	34,888		326,901
Marlin Business Services Corp. (a)	7,748		73,761
Medallion Financial Corp.	18,998		188,270
MicroFinancial, Inc.	5,166		27,896
MSCI, Inc. Class A	13,057		388,185
NCP Litigation Trust (a)	200		10
NewStar Financial, Inc. (a)	37,643		222,847
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Diversified Financial Services - continued
NYMEX Holdings, Inc.	58,184		$ 5,747,997
PICO Holdings, Inc. (a)	18,144		620,162
Portfolio Recovery Associates, Inc. (d)	15,839		578,440
Primus Guaranty Ltd. (a)(d)	21,499		89,866
Resource America, Inc. Class A	15,458		184,723
The NASDAQ Stock Market, Inc. (a)	100,268		4,162,125
			16,474,127
Insurance - 8.5%
21st Century Holding Co.	1,797		23,469
Affirmative Insurance Holdings, Inc.	11,382		101,527
Alfa Corp.	40,352		878,463
Alleghany Corp.	4,765		1,720,165
Allied World Assurance Co. Holdings Ltd.	30,660		1,335,243
Amcomp, Inc. (a)	11,074		135,657
American Equity Investment Life Holding Co.	46,590		444,935
American Financial Group, Inc.	62,689		1,621,764
American Independence Corp. (a)	3,087		24,696
American National Insurance Co.	12,213		1,385,565
American Physicians Capital, Inc.	12,727		561,643
American Safety Insurance Group Ltd. (a)	9,346		178,976
Amerisafe, Inc. (a)	18,790		247,089
Amtrust Financial Services, Inc.	22,034		367,968
Arch Capital Group Ltd. (a)	42,907		2,938,271
Argo Group International Holdings, Ltd. (a)	29,589		1,107,220
Arthur J. Gallagher & Co.	89,404		2,109,934
Aspen Insurance Holdings Ltd.	68,174		1,972,956
Assured Guaranty Ltd.	54,953		1,409,544
Atlantic American Corp. (a)	10,720		16,616
Axis Capital Holdings Ltd.	126,519		4,664,756
Baldwin & Lyons, Inc. Class B	9,944		242,236
Berkshire Hathaway, Inc. Class A (a)(d)	991		138,739,938
Brooke Corp.	8,106		48,717
Brown & Brown, Inc.	108,309		1,931,149
CastlePoint Holdings Ltd.	30,600		386,478
Citizens, Inc. Class A (a)(d)	10,666		60,263
CNA Financial Corp.	35,859		955,642
CNA Surety Corp. (a)	12,254		172,904
Commerce Group, Inc., Massachusetts	54,470		1,973,993
Conseco, Inc. (a)	175,344		2,056,785
Crawford & Co. Class B (a)	11,783		48,546
CRM Holdings Ltd. (a)	9,636		61,863
Darwin Professional Underwriters, Inc. (a)	10,000		209,400
Delphi Financial Group, Inc. Class A	39,220		1,182,875
Donegal Group, Inc. Class A	5,200		84,864
Eastern Insurance Holdings, Inc.	11,883		194,406
eHealth, Inc. (a)(d)	11,884		291,039
EMC Insurance Group	12,011		265,683
	Shares		Value
Employers Holdings, Inc.	50,840		$ 871,906
Endurance Specialty Holdings Ltd.	51,346		2,017,898
Enstar Group Ltd. (a)(d)	5,222		511,704
Erie Indemnity Co. Class A	48,343		2,385,727
Everest Re Group Ltd.	57,919		5,611,193
FBL Financial Group, Inc. Class A	15,302		450,032
Fidelity National Financial, Inc. Class A	207,094		3,646,925
First Acceptance Corp. (a)	24,679		80,454
First Mercury Financial Corp. (a)	17,374		285,802
Flagstone Reinsurance Holdings Ltd.	30,365		388,368
FPIC Insurance Group, Inc. (a)	11,078		483,776
Gainsco, Inc. (a)	196		657
Greenlight Capital Re, Ltd.	1,100		20,900
Hallmark Financial Services, Inc. (a)	12,591		148,322
Hanover Insurance Group, Inc.	47,150		2,059,984
Harleysville Group, Inc.	16,469		553,029
HCC Insurance Holdings, Inc.	106,664		2,566,336
Hilb Rogal & Hobbs Co.	36,013		1,102,718
Hilltop Holdings, Inc. (a)	54,151		562,087
Horace Mann Educators Corp.	38,802		674,379
Independence Holding Co.	5,623		61,853
Infinity Property & Casualty Corp.	16,293		654,490
Insure.com, Inc. (a)	779		3,506
Investors Title Co.	1,641		78,620
IPC Holdings Ltd.	55,628		1,508,631
Kansas City Life Insurance Co.	3,631		150,069
LandAmerica Financial Group, Inc.	17,431		641,809
Life Partners Holdings, Inc. (d)	6,325		95,191
Markel Corp. (a)	9,317		4,330,076
Max Capital Group Ltd.	44,602		1,237,259
Meadowbrook Insurance Group, Inc.	35,338		281,290
Mercer Insurance Group, Inc.	5,069		89,214
Mercury General Corp.	26,466		1,206,850
Montpelier Re Holdings Ltd. (d)	98,862		1,572,894
National Atlantic Holdings Corp. Class A (a)	8,196		48,274
National Financial Partners Corp.	36,735		873,191
National Interstate Corp.	6,658		183,228
National Security Group, Inc.	2,778		42,781
National Western Life Insurance Co. Class A	2,047		364,673
Nationwide Financial Services, Inc. Class A (sub. vtg.)	51,063		2,106,349
Navigators Group, Inc. (a)	12,804		700,763
Nymagic, Inc.	8,426		203,404
OdysseyRe Holdings Corp.	25,213		912,206
Old Republic International Corp.	210,297		2,885,275
OneBeacon Insurance Group Ltd.	29,770		634,101
PartnerRe Ltd.	54,530		4,192,812
Penn Treaty American Corp. (a)	31,965		183,799
Philadelphia Consolidated Holdings Corp. (a)	55,506		1,882,764
Phoenix Companies, Inc.	106,254		1,209,171
Platinum Underwriters Holdings Ltd.	52,605		1,814,873
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Insurance - continued
PMA Capital Corp. Class A (a)	37,128		$ 304,450
Presidential Life Corp.	24,226		406,028
ProAssurance Corp. (a)	29,046		1,544,376
ProCentury Corp.	13,119		240,734
Protective Life Corp.	62,936		2,428,700
Reinsurance Group of America, Inc.	29,218		1,598,517
RenaissanceRe Holdings Ltd.	60,415		3,316,784
RLI Corp.	23,173		1,210,326
Safety Insurance Group, Inc.	15,866		588,470
Scottish Re Group Ltd. (a)	72,288		34,698
SCPIE Holding, Inc. (a)	9,553		261,752
SeaBright Insurance Holdings, Inc. (a)	17,523		261,093
Security Capital Assurance Ltd. (d)	30,974		47,080
Selective Insurance Group, Inc.	52,628		1,250,441
Specialty Underwriters' Alliance, Inc. (a)	14,899		74,793
StanCorp Financial Group, Inc.	46,893		2,301,977
State Auto Financial Corp.	13,588		368,778
Stewart Information Services Corp.	15,082		448,991
The First American Corp. (d)	79,938		2,784,241
The Midland Co.	13,229		854,858
Tower Group, Inc.	21,338		606,213
Transatlantic Holdings, Inc.	24,046		1,620,700
Unico American Corp. (a)	2,607		24,767
United America Indemnity Ltd. Class A (a)	21,961		411,988
United Fire & Casualty Co.	21,092		724,510
Unitrin, Inc.	43,264		1,540,198
Universal Insurance Holdings, Inc.	15,000		88,350
Validus Holdings Ltd.	30,700		762,588
W.R. Berkley Corp.	157,341		4,529,847
Wesco Financial Corp.	1,262		490,918
White Mountains Insurance Group Ltd.	6,997		3,452,320
Zenith National Insurance Corp.	31,252		1,065,068
			262,369,405
Real Estate Investment Trusts - 5.2%
Acadia Realty Trust (SBI)	28,024		642,030
Agree Realty Corp.	11,217		314,188
Alesco Financial, Inc. (d)	40,369		115,052
Alexanders, Inc. (a)	2,132		644,823
Alexandria Real Estate Equities, Inc.	26,999		2,478,508
AMB Property Corp. (SBI)	91,422		4,587,556
American Campus Communities, Inc.	30,973		808,395
American Financial Realty Trust (SBI)	136,648		1,056,289
American Land Lease, Inc.	4,333		89,346
Annaly Capital Management, Inc.	432,776		8,954,135
Anthracite Capital, Inc. (d)	68,320		436,565
Anworth Mortgage Asset Corp.	59,448		564,162
Arbor Realty Trust, Inc. (d)	23,691		380,951
Ashford Hospitality Trust, Inc.	115,148		765,734
Associated Estates Realty Corp.	21,535		212,120
BioMed Realty Trust, Inc.	66,324		1,453,822
	Shares		Value
Brandywine Realty Trust (SBI)	79,824		$ 1,336,254
BRE Properties, Inc.	44,728		1,925,988
BRT Realty Trust (d)	3,818		48,107
Camden Property Trust (SBI)	53,528		2,542,045
Capital Trust, Inc. Class A (d)	15,927		439,585
CapitalSource, Inc.	145,796		2,309,409
CaPlease, Inc.	60,502		499,142
Capstead Mortgage Corp.	43,192		743,766
Care Investment Trust, Inc.	4,587		48,989
CBL & Associates Properties, Inc.	63,090		1,473,152
CBRE Realty Finance, Inc.	27,390		135,307
Cedar Shopping Centers, Inc.	56,297		654,171
Chimera Investment Corp.	31,000		513,670
Cogdell Spencer, Inc.	5,912		90,454
Colonial Properties Trust (SBI)	46,133		1,123,800
Corporate Office Properties Trust (SBI)	47,189		1,445,871
Cousins Properties, Inc. (d)	41,230		1,000,240
Crystal River Capital, Inc. (d)	24,451		261,137
DCT Industrial Trust, Inc.	170,310		1,525,978
Deerfield Capital Corp. (d)	37,488		243,297
DiamondRock Hospitality Co.	96,358		1,203,511
Digital Realty Trust, Inc.	56,719		2,036,212
Douglas Emmett, Inc.	95,352		2,020,509
Duke Realty LP	122,941		2,817,808
DuPont Fabros Technology, Inc.	28,900		485,520
EastGroup Properties, Inc.	22,751		965,325
Education Realty Trust, Inc.	50,625		644,963
Entertainment Properties Trust (SBI)	24,968		1,170,250
Equity Lifestyle Properties, Inc.	29,657		1,354,732
Equity One, Inc. (d)	35,230		753,922
Essex Property Trust, Inc.	22,797		2,394,597
Extra Space Storage, Inc.	63,108		951,038
Federal Realty Investment Trust (SBI)	49,460		3,545,293
FelCor Lodging Trust, Inc.	58,847		742,649
Feldman Mall Properties, Inc.	12,239		44,550
First Industrial Realty Trust, Inc. (d)	43,843		1,331,950
First Potomac Realty Trust	32,149		502,489
Franklin Street Properties Corp.	66,177		835,154
Friedman, Billings, Ramsey Group, Inc. Class A	140,622		350,149
Getty Realty Corp.	17,746		476,658
Gladstone Commercial Corp.	10,600		182,956
Glimcher Realty Trust (d)	34,000		394,400
GMH Communities Trust	50,213		449,908
Gramercy Capital Corp.	24,161		493,609
HCP, Inc.	206,564		6,027,538
Health Care REIT, Inc.	81,157		3,340,422
Healthcare Realty Trust, Inc.	46,997		1,118,059
Hersha Hospitality Trust	54,503		489,437
Highwoods Properties, Inc. (SBI)	55,515		1,636,582
Home Properties, Inc.	30,716		1,413,550
Hospitality Properties Trust (SBI)	84,349		3,064,399
HRPT Properties Trust (SBI)	195,558		1,345,439
Inland Real Estate Corp.	85,407		1,190,574
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Investment Trusts - continued
Investors Real Estate Trust	66,191		$ 620,210
iStar Financial, Inc. (d)	120,220		2,369,536
JER Investments Trust, Inc. (d)	22,756		233,249
Kilroy Realty Corp.	30,274		1,435,896
Kite Realty Group Trust	37,057		468,400
LaSalle Hotel Properties (SBI)	39,161		1,131,753
Lexington Corporate Properties Trust (d)	67,928		982,918
Liberty Property Trust (SBI)	84,250		2,503,068
LTC Properties, Inc.	19,272		465,226
Mack-Cali Realty Corp.	60,915		2,100,958
Maguire Properties, Inc.	37,396		849,637
Medical Properties Trust, Inc.	55,016		659,092
MFA Mortgage Investments, Inc.	138,432		1,323,410
Mid-America Apartment Communities, Inc.	26,924		1,305,545
Mission West Properties, Inc.	23,945		220,294
Monmouth Real Estate Investment Corp. Class A	9,627		77,979
National Health Investors, Inc.	25,658		773,076
National Retail Properties, Inc.	58,141		1,203,519
Nationwide Health Properties, Inc. (d)	83,231		2,524,396
Newcastle Investment Corp. (d)	55,833		600,205
NorthStar Realty Finance Corp. (d)	60,270		535,800
Omega Healthcare Investors, Inc.	63,118		1,070,481
One Liberty Properties, Inc.	12,885		225,488
Origen Financial, Inc.	17,799		51,617
Parkway Properties, Inc.	18,071		646,038
Pennsylvania Real Estate Investment Trust (SBI)	37,341		923,443
PMC Commercial Trust	6,561		68,562
Post Properties, Inc.	41,788		1,757,603
Potlatch Corp.	36,757		1,516,961
PS Business Parks, Inc.	23,174		1,125,098
Quadra Realty Trust, Inc.	14,338		155,567
RAIT Financial Trust (SBI) (d)	59,041		451,664
Ramco-Gershenson Properties Trust (SBI)	16,771		372,652
Rayonier, Inc.	70,403		2,995,648
Realty Income Corp.	93,451		2,150,308
Redwood Trust, Inc. (d)	23,125		772,838
Regency Centers Corp.	61,472		3,648,363
Resource Capital Corp. (d)	20,772		170,746
Saul Centers, Inc.	12,166		564,502
Senior Housing Properties Trust (SBI)	77,620		1,650,977
SL Green Realty Corp.	54,115		4,951,523
Sovran Self Storage, Inc.	30,151		1,162,321
Strategic Hotel & Resorts, Inc.	76,240		1,085,658
Sun Communities, Inc. (d)	23,977		488,651
Sunstone Hotel Investors, Inc.	53,565		838,828
Supertel Hospitality, Inc., Maryland	13,197		79,314
Tanger Factory Outlet Centers, Inc. (d)	28,807		1,022,649
Taubman Centers, Inc.	48,427		2,360,816
	Shares		Value
The Macerich Co.	69,110		$ 4,423,040
Thornburg Mortgage, Inc. (SBI) (d)	123,761		1,101,473
Transcontinental Realty Investors, Inc. (a)	1,497		23,308
U-Store-It Trust	53,157		533,165
UDR, Inc.	130,445		2,915,446
UMH Properties, Inc.	4,453		50,363
Universal Health Realty Income Trust (SBI)	14,027		472,289
Urstadt Biddle Properties, Inc.	5,274		79,848
Urstadt Biddle Properties, Inc. Class A	20,626		302,996
Ventas, Inc.	127,947		5,350,744
Washington (REIT) (SBI)	45,520		1,452,998
Weingarten Realty Investors (SBI)	73,998		2,376,076
Winthrop Realty Trust	50,129		249,642
			161,662,061
Real Estate Management & Development - 0.5%
American Realty Investments, Inc. (a)	1,965		19,296
Brookfield Properties Corp.	200,104		3,729,940
Consolidated-Tomoka Land Co.	4,603		237,055
Forest City Enterprises, Inc. Class A	67,421		2,369,848
Forestar Real Estate Group, Inc. (a)	30,666		747,637
FX Real Estate & Entertainment, Inc. (a)	8,746		49,765
Grubb & Ellis Co.	14,733		97,680
Housevalues, Inc. (a)(d)	9,851		25,711
Jones Lang LaSalle, Inc.	33,530		2,561,357
Meruelo Maddux Properties, Inc.	52,210		221,893
Reis, Inc. (a)	2,805		18,233
Stratus Properties, Inc. (a)(d)	2,986		87,550
Tejon Ranch Co. (a)	15,713		556,240
The St. Joe Co. (d)	71,729		2,757,980
Thomas Properties Group, Inc.	20,837		197,535
United Capital Corp. (a)	2,068		48,598
ZipRealty, Inc. (a)(d)	10,323		58,531
			13,784,849
Thrifts & Mortgage Finance - 1.2%
American Bancorp of New Jersey, Inc.	20,535		220,546
Anchor BanCorp Wisconsin, Inc.	18,340		347,176
Astoria Financial Corp.	76,327		1,997,478
Bank Mutual Corp.	57,255		615,491
BankAtlantic Bancorp, Inc. Class A (non-vtg.)	49,516		225,793
BankFinancial Corp.	29,332		417,101
BankUnited Financial Corp. Class A (d)	33,017		161,123
BCSB Bankcorp, Inc. (a)	4,872		35,468
Beneficial Mutual Bancorp, Inc. (a)(d)	31,000		283,650
Berkshire Bancorp, Inc.	1,110		16,994
Berkshire Hills Bancorp, Inc.	5,489		124,326
Beverly Hills Bancorp, Inc.	10,000		49,500
Brookline Bancorp, Inc., Delaware	72,365		695,428
Camco Financial Corp.	7,852		86,215
Capitol Federal Financial (d)	22,464		779,501
Centerline Holding Co.	50,006		250,030
CFS Bancorp, Inc.	5,521		79,061
Charter Financial Corp., Georgia	8,305		269,913
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Thrifts & Mortgage Finance - continued
Cheviot Financial Corp.	52		$ 528
Citizens First Bancorp, Inc., Delaware	3,754		47,338
Citizens South Banking Corp., Delaware	10,510		107,097
Clayton Holdings, Inc. (a)	6,858		29,695
Clifton Savings Bancorp, Inc.	8,458		83,650
Corus Bankshares, Inc. (d)	41,002		423,551
Dime Community Bancshares, Inc.	32,145		489,247
Doral Financial Corp. (a)(d)	3,449		67,945
Downey Financial Corp. (d)	18,670		488,967
ESB Financial Corp.	7,483		77,075
Farmer Mac Class C (non-vtg.)	12,702		305,356
First Busey Corp. (d)	35,164		657,918
First Clover Leaf Financial Corp.	10,566		106,717
First Defiance Financial Corp.	3,003		58,979
First Federal Bancshares of Arkansas, Inc.	3,747		56,205
First Federal Bankshares, Inc.	2,907		41,890
First Financial Holdings, Inc.	12,293		279,174
First Financial Northwest, Inc. (a)	17,660		175,717
First Financial Service Corp.	745		17,247
First Niagara Financial Group, Inc.	106,080		1,211,434
First Place Financial Corp.	18,173		222,801
FirstFed Financial Corp. (a)(d)	16,531		516,594
Flagstar Bancorp, Inc. (d)	35,396		253,435
Flushing Financial Corp.	25,913		422,382
Franklin Bank Corp. (a)(d)	24,731		94,967
Fremont General Corp. (d)	63,275		62,642
Guaranty Financial Group, Inc. (a)(d)	30,666		401,418
HMN Financial, Inc.	2,852		68,961
Home Federal Bancorp	2,558		59,218
Home Federal Bancorp, Inc.	14,626		166,005
HopFed Bancorp, Inc.	7,731		109,084
Imperial Capital Bancorp, Inc.	5,543		123,941
IndyMac Bancorp, Inc. (d)	89,574		550,880
Jefferson Bancshares, Inc., Tennessee	5,738		61,511
Kearny Financial Corp.	13,844		148,131
Legacy Bancorp, Inc.	18,619		264,204
Lincoln Bancorp	3,496		41,952
LSB Corp.	3,904		66,290
MASSBANK Corp.	6,468		252,252
MutualFirst Financial, Inc.	2,603		35,921
NASB Financial, Inc. (d)	3,384		72,756
New England Bancshares, Inc.	7,230		79,169
New York Community Bancorp, Inc. (d)	304,679		4,975,408
NewAlliance Bancshares, Inc.	99,575		1,133,164
Northeast Community Bancorp, Inc.	8,762		102,954
Northwest Bancorp, Inc. (d)	29,130		769,323
OceanFirst Financial Corp.	4,849		78,263
Ocwen Financial Corp. (a)(d)	28,396		170,376
Oritani Financial Corp. (a)	11,740		129,844
Pamrapo Bancorp, Inc.	2,874		47,967
	Shares		Value
Parkvale Financial Corp.	2,919		$ 81,061
People's United Financial, Inc.	185,737		3,131,526
Peoples Bancorp, Auburn, Indiana	3,388		51,328
Peoples Cmnty Bancorp, Inc.	6,000		41,940
PFF Bancorp, Inc. (d)	20,235		171,390
Provident Financial Holdings, Inc.	3,631		61,364
Provident Financial Services, Inc.	90,068		1,079,915
Provident New York Bancorp (d)	44,295		580,707
Pulaski Financial Corp.	6,450		71,015
PVF Capital Corp.	5,643		60,380
Radian Group, Inc. (d)	70,539		502,238
Rainier Pacific Financial Group, Inc.	3,186		43,234
Riverview Bancorp, Inc.	13,156		140,769
Rockville Financial, Inc.	7,892		89,574
Roma Financial Corp. (d)	10,524		140,495
Rome Bancorp, Inc.	12,337		145,083
TF Financial Corp.	1,778		41,783
TFS Financial Corp.	99,035		1,228,034
The PMI Group, Inc.	73,681		535,661
TierOne Corp.	17,055		250,709
Timberland Bancorp, Inc.	12,774		162,485
Triad Guaranty, Inc. (a)(d)	10,834		63,704
Trustco Bank Corp., New York (d)	69,461		600,838
United Community Financial Corp., Ohio	23,305		129,343
ViewPoint Financial Group	20,326		315,460
Washington Federal, Inc.	85,704		1,945,481
Wauwatosa Holdings, Inc. (a)(d)	7,726		90,858
Westfield Financial, Inc.	16,393		164,258
Willow Financial Bancorp, Inc.	16,430		134,562
WSFS Financial Corp.	9,096		430,696
			35,348,228
TOTAL FINANCIALS			669,984,109
HEALTH CARE - 11.0%
Biotechnology - 3.2%
A.P. Pharma, Inc. (a)	4,452		6,188
Aastrom Biosciences, Inc. (a)	75,401		39,284
Abraxis BioScience, Inc. (a)(d)	5,874		358,138
Acadia Pharmaceuticals, Inc. (a)(d)	42,194		418,564
Acorda Therapeutics, Inc. (a)	31,340		640,590
ADVENTRX Pharmaceuticals, Inc. (a)	46,743		29,916
Affymax, Inc. (a)	8,252		158,851
Alexion Pharmaceuticals, Inc. (a)(d)	35,016		2,122,320
Alfacell Corp. (a)(d)	65,656		144,443
Alkermes, Inc. (a)	95,970		1,241,852
Allos Therapeutics, Inc. (a)(d)	49,603		277,281
Alnylam Pharmaceuticals, Inc. (a)(d)	30,657		870,659
Alseres Pharmaceuticals, Inc. (a)	1,366		3,552
Altus Pharmaceuticals, Inc. (a)(d)	23,918		138,246
Amicus Therapeutics, Inc. (d)	10,000		98,500
Amylin Pharmaceuticals, Inc. (a)(d)	130,223		3,447,003
Anadys Pharmaceuticals, Inc. (a)	18,763		30,208
Antigenics, Inc. (a)(d)	19,086		42,944
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Arena Pharmaceuticals, Inc. (a)(d)	76,082		$ 515,836
ARIAD Pharmaceuticals, Inc. (a)(d)	86,734		290,559
ArQule, Inc. (a)	42,103		191,990
Array Biopharma, Inc. (a)	50,434		282,430
Avalon Pharmaceuticals, Inc. (a)	22,000		48,840
Avant Immunotherapeutics, Inc. (a)	18,683		12,891
AVAX Technologies, Inc. (a)	4,900		588
AVI BioPharma, Inc. (a)	25,727		34,989
Avigen, Inc. (a)	22,946		75,951
BioCryst Pharmaceuticals, Inc. (a)(d)	33,947		135,109
BioMarin Pharmaceutical, Inc. (a)	93,523		3,557,615
Biosante Pharmaceuticals, Inc. (a)	21,771		75,110
BioSphere Medical, Inc. (a)	4,678		18,244
Calypte Biomedical Corp. (a)	656		80
Cel-Sci Corp. (a)	5,333		3,413
Cell Genesys, Inc. (a)	88,600		209,096
Cell Therapeutics, Inc. (a)(d)	31,073		41,327
Cephalon, Inc. (a)(d)	63,044		3,804,075
Cepheid, Inc. (a)	49,566		1,371,987
Cleveland Biolabs, Inc. (a)(d)	20,722		90,141
Combinatorx, Inc. (a)	22,451		110,234
Critical Therapeutics, Inc. (a)	7,164		7,809
Cubist Pharmaceuticals, Inc. (a)	52,675		958,685
CuraGen Corp. (a)	41,352		30,187
Curis, Inc. (a)	10,011		14,516
CV Therapeutics, Inc. (a)	63,324		369,812
Cytogen Corp. (a)	15,067		7,684
Cytokinetics, Inc. (a)	45,414		153,045
Cytori Therapeutics, Inc. (a)	14,014		89,549
CytRx Corp. (a)(d)	79,740		143,532
Dendreon Corp. (a)(d)	99,179		523,665
DUSA Pharmaceuticals, Inc. (a)(d)	9,863		19,036
Dyax Corp. (a)	58,388		253,988
Dynavax Technologies Corp. (a)(d)	21,508		133,780
Emergent BioSolutions, Inc. (a)	13,717		102,466
Encysive Pharmaceuticals, Inc. (a)	39,210		90,183
EntreMed, Inc. (a)	6,269		5,705
Enzon Pharmaceuticals, Inc. (a)(d)	51,498		442,368
Epicept Corp. (a)	1,640		1,607
EPIX Pharmaceuticals, Inc. (a)	9,769		29,795
Exact Sciences Corp. (a)	5,146		10,086
Forticell Bioscience, Inc. (a)	2		1
Genelabs Technologies, Inc. (a)	7,653		8,418
Genentech, Inc. (a)	444,620		33,679,965
Genitope Corp. (a)	50,442		33,796
Genomic Health, Inc. (a)	21,051		401,443
GenVec, Inc. (a)	87,639		99,908
Geron Corp. (a)(d)	77,110		379,381
GTC Biotherapeutics, Inc. (a)	4,398		3,079
GTx, Inc. (a)(d)	15,842		259,334
Halozyme Therapeutics, Inc. (a)(d)	72,135		396,743
	Shares		Value
Hana Biosciences, Inc. (a)(d)	18,262		$ 14,062
Hemispherx Biopharma, Inc. (a)(d)	93,692		77,764
Human Genome Sciences, Inc. (a)(d)	130,189		769,417
Idenix Pharmaceuticals, Inc. (a)(d)	13,126		71,274
Idera Pharmaceuticals, Inc. (a)(d)	26,869		274,601
IDM Pharma, Inc. (a)	908		1,998
ImClone Systems, Inc. (a)	60,388		2,718,064
ImmunoGen, Inc. (a)	33,884		100,635
Immunomedics, Inc. (a)(d)	65,181		160,997
Incyte Corp. (a)	73,873		732,081
Indevus Pharmaceuticals, Inc. (a)(d)	81,189		402,697
Infinity Pharmaceuticals, Inc. (a)	1,801		13,508
Inhibitex, Inc. (a)(d)	8,093		6,555
Insmed, Inc. (a)	127,479		99,434
InterMune, Inc. (a)(d)	33,697		474,454
Introgen Therapeutics, Inc. (a)(d)	44,401		127,431
Isis Pharmaceuticals, Inc. (a)(d)	81,775		1,177,560
Isolagen, Inc. (a)	33,379		20,695
Keryx Biopharmaceuticals, Inc. (a)(d)	60,465		347,674
Kosan Biosciences, Inc. (a)	28,380		56,476
La Jolla Pharmaceutical Co. (a)	33,235		82,755
Lexicon Pharmaceuticals, Inc. (a)	68,125		126,713
LifeCell Corp. (a)	34,601		1,396,150
Ligand Pharmaceuticals, Inc. Class B	70,084		237,585
Lipid Sciences, Inc. (a)	6,973		3,556
Manhattan Pharmaceuticals, Inc. (a)(d)	9,897		1,880
MannKind Corp. (a)(d)	74,374		525,824
Martek Biosciences (a)	30,378		870,633
Maxygen, Inc. (a)	38,092		244,551
Medarex, Inc. (a)(d)	126,451		1,175,994
Memory Pharmaceuticals Corp. (a)	67,941		43,482
Metabasis Therapeutics, Inc. (a)	26,087		50,087
Metabolix, Inc. (a)	14,855		239,166
Micromet, Inc. (a)	5,632		7,828
Millennium Pharmaceuticals, Inc. (a)	305,298		4,271,119
Momenta Pharmaceuticals, Inc. (a)	24,545		249,377
Monogram Biosciences, Inc. (a)	94,829		138,450
Myriad Genetics, Inc. (a)(d)	41,078		1,520,708
Nabi Biopharmaceuticals (a)(d)	74,967		290,122
Neopharm, Inc. (a)	8,402		5,125
Neose Technologies, Inc. (a)	9,641		5,023
Neurocrine Biosciences, Inc. (a)	40,314		201,973
Neurogen Corp. (a)	14,550		23,135
Northfield Laboratories, Inc. (a)	29,181		30,348
Novavax, Inc. (a)	42,163		118,056
NPS Pharmaceuticals, Inc. (a)	39,572		156,705
Nuvelo, Inc. (a)	36,720		61,322
Omrix Biopharmaceuticals, Inc. (a)	16,963		409,656
ONYX Pharmaceuticals, Inc. (a)	53,103		1,450,774
Orchid Cellmark, Inc. (a)	20,246		92,929
OREXIGEN Therapeutics, Inc.	10,755		139,277
Orthologic Corp. (a)	36,394		38,214
Oscient Pharmaceuticals Corp. (a)(d)	9,344		18,968
OSI Pharmaceuticals, Inc. (a)(d)	54,589		1,962,475
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Osiris Therapeutics, Inc. (a)(d)	18,030		$ 185,168
OXiGENE, Inc. (a)	27,796		52,812
Palatin Technologies, Inc. (a)	59,631		22,660
Panacos Pharmaceuticals, Inc. (a)	35,312		24,365
PDL BioPharma, Inc. (a)	110,808		1,770,712
Peregrine Pharmaceuticals, Inc. (a)	144,570		91,079
Pharmacopeia Drug Discovery, Inc. (a)	2,994		11,018
Pharmacyclics, Inc. (a)	41,159		47,744
Pharmion Corp. (a)	29,023		2,077,757
Poniard Pharmaceuticals, Inc. (a)(d)	14,768		60,549
Pro-Pharmaceuticals, Inc. (a)	23,828		9,769
Progenics Pharmaceuticals, Inc. (a)	24,524		375,217
Regeneron Pharmaceuticals, Inc. (a)	63,234		1,250,136
Renovis, Inc. (a)	15,599		36,970
Repligen Corp. (a)	34,267		181,272
Rigel Pharmaceuticals, Inc. (a)	40,346		799,658
Sangamo Biosciences, Inc. (a)(d)	42,750		500,175
Savient Pharmaceuticals, Inc. (a)(d)	65,430		1,483,952
SciClone Pharmaceuticals, Inc. (a)	14,063		28,126
Seattle Genetics, Inc. (a)	53,443		480,453
Senomyx, Inc. (a)	31,175		211,990
SIGA Technologies, Inc. (a)	5,146		11,836
Sonus Pharmaceuticals, Inc. (a)	32,820		15,425
StemCells, Inc. (a)	46,919		70,848
Sunesis Pharmaceuticals, Inc. (a)(d)	3,400		4,760
Synta Pharmaceuticals Corp. (d)	25,759		228,225
Tapestry Pharmaceuticals, Inc. (a)	673		45
Telik, Inc. (a)(d)	42,903		107,687
Tercica, Inc. (a)(d)	30,000		181,500
Theravance, Inc. (a)(d)	55,976		920,805
Third Wave Technologies, Inc. (a)	44,390		353,788
Threshold Pharmaceuticals, Inc. (a)	15,598		7,175
Titan Pharmaceuticals, Inc. (a)	11,415		13,127
TorreyPines Therapeutics, Inc. (a)	1,899		3,627
Trimeris, Inc. (a)(d)	15,229		91,526
Trubion Pharmaceuticals, Inc. (a)(d)	6,000		42,660
Unigene Laboratories, Inc. (a)	74,735		141,249
United Therapeutics Corp. (a)	20,368		1,714,375
Vanda Pharmaceuticals, Inc. (a)	21,153		96,458
Vermillion, Inc. (a)	8,010		4,245
Vertex Pharmaceuticals, Inc. (a)(d)	125,824		2,201,920
Vical, Inc. (a)	34,045		129,711
XOMA Ltd. (a)	145,384		369,275
Zymogenetics, Inc. (a)(d)	42,530		424,875
			100,262,671
Health Care Equipment & Supplies - 3.0%
Abaxis, Inc. (a)	22,041		642,275
Abiomed, Inc. (a)	31,613		452,066
Accuray, Inc. (d)	34,689		359,725
Advanced Medical Optics, Inc. (a)(d)	53,755		1,229,914
Align Technology, Inc. (a)(d)	62,081		766,700
	Shares		Value
Alphatec Holdings, Inc. (a)	14,930		$ 86,295
American Medical Systems Holdings, Inc. (a)(d)	67,355		982,709
Analogic Corp.	12,972		758,992
Angiodynamics, Inc. (a)	20,296		336,508
Anika Therapeutics, Inc. (a)	12,355		148,631
ArthroCare Corp. (a)(d)	26,849		1,077,987
Aspect Medical Systems, Inc. (a)	22,382		279,104
ATS Medical, Inc. (a)	6,269		11,284
Beckman Coulter, Inc.	56,783		3,832,853
BioLase Technology, Inc. (a)(d)	21,417		75,174
Bovie Medical Corp. (a)	18,610		108,869
BSD Medical Corp. (a)(d)	13,363		72,695
Cambridge Heart, Inc. (a)	1,200		1,368
Candela Corp. (a)	20,642		94,334
Cantel Medical Corp. (a)	13,163		145,056
Cardiac Science Corp. (a)	24,399		226,667
Cardica, Inc. (a)(d)	18,168		157,517
Cardiodynamics International Corp. (a)	13,842		4,309
Cardiotech International, Inc. (a)	3,688		2,545
Cerus Corp. (a)	40,324		252,025
Clarient, Inc. (a)	8,140		16,361
Clinical Data, Inc. (a)	12,139		247,393
Conceptus, Inc. (a)(d)	21,558		367,779
CONMED Corp. (a)	26,542		715,572
Cooper Companies, Inc.	42,262		1,444,938
Cryolife, Inc. (a)	23,279		219,055
Cutera, Inc. (a)	13,073		165,766
Cyberonics, Inc. (a)	28,461		367,147
Cynosure, Inc. Class A (a)	12,274		293,717
Datascope Corp.	14,755		513,474
DENTSPLY International, Inc.	134,600		5,254,784
DexCom, Inc. (a)(d)	35,375		260,714
Digirad Corp. (a)	4,978		14,337
E-Z-EM, Inc. (a)	12,324		256,216
Edwards Lifesciences Corp. (a)(d)	52,228		2,277,663
Electro-Optical Sciences, Inc. (a)(d)	9,000		42,030
Endologix, Inc. (a)	29,516		93,271
EP Medsystems, Inc. (a)	14,220		23,036
Escalon Medical Corp. (a)	3,512		11,871
ev3, Inc. (a)(d)	70,887		626,641
Exactech, Inc. (a)	12,414		325,868
Fonar Corp. (a)	785		3,344
Gen-Probe, Inc. (a)	49,207		2,352,587
Greatbatch, Inc. (a)	20,807		444,646
Haemonetics Corp. (a)	23,414		1,360,353
Hansen Medical, Inc. (a)(d)	14,073		264,432
HealthTronics, Inc. (a)	18,929		69,091
Hillenbrand Industries, Inc.	51,925		2,724,505
Hologic, Inc. (a)(d)	120,170		7,247,453
Home Diagnostics, Inc. (a)	19,347		140,459
I-Flow Corp. (a)	24,646		347,262
ICU Medical, Inc. (a)	13,059		350,504
IDEXX Laboratories, Inc. (a)	61,310		3,400,866
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Equipment & Supplies - continued
Immucor, Inc. (a)	66,174		$ 1,971,985
Implant Sciences Corp. (a)	468		702
Insite Vision (a)	62,560		47,546
Insulet Corp.	22,878		391,900
Integra LifeSciences Holdings Corp. (a)(d)	17,966		744,511
Intuitive Surgical, Inc. (a)	36,261		10,222,701
Invacare Corp.	28,693		716,177
Inverness Medical Innovations, Inc. (a)	70,415		2,052,597
Iridex Corp. (a)	9,439		30,205
IRIS International, Inc. (a)	21,153		238,394
IVAX Diagnostics, Inc. (a)	7,111		4,124
Kensey Nash Corp. (a)	14,263		387,240
Kinetic Concepts, Inc. (a)	48,994		2,517,802
Lifecore Biomedical, Inc. (a)	13,141		221,163
Masimo Corp.	40,379		1,294,551
Medical Action Industries, Inc. (a)	13,708		257,985
Mentor Corp.	36,815		1,091,933
Meridian Bioscience, Inc.	34,462		1,181,013
Merit Medical Systems, Inc. (a)	32,942		522,131
Micrus Endovascular Corp. (a)	16,657		235,697
Minrad International, Inc. (a)	24,400		56,852
National Dentex Corp. (a)	2,508		35,087
Natus Medical, Inc. (a)	21,654		411,209
Neogen Corp. (a)	16,257		438,776
NeuroMetrix, Inc. (a)	7,830		19,027
NMT Medical, Inc. (a)	16,102		64,247
North American Scientific, Inc. (a)	3,930		1,533
Northstar Neuroscience, Inc. (a)	18,816		29,541
NuVasive, Inc. (a)	34,834		1,342,502
NxStage Medical, Inc. (a)	19,789		117,151
OraSure Technologies, Inc. (a)	45,145		322,335
Orthofix International NV (a)	16,028		641,921
Orthovita, Inc. (a)	20,662		59,300
Osteotech, Inc. (a)	4,011		17,528
Palomar Medical Technologies, Inc. (a)(d)	16,266		216,500
Possis Medical, Inc. (a)	16,597		322,314
Quidel Corp. (a)	32,548		534,764
ResMed, Inc. (a)	72,251		2,925,443
Respironics, Inc. (a)	68,764		4,516,420
Retractable Technologies, Inc. (a)	5,601		8,402
Rochester Medical Corp. (a)(d)	8,589		88,123
RTI Biologics, Inc. (a)(d)	51,821		445,661
Sirona Dental Systems, Inc. (a)	16,590		431,506
Somanetics Corp. (a)	17,097		475,126
Sonic Innovations, Inc. (a)	31,910		134,979
SonoSite, Inc. (a)(d)	17,507		515,231
Staar Surgical Co. (a)	8,437		19,574
Stereotaxis, Inc. (a)(d)	33,454		193,030
Steris Corp.	61,693		1,518,882
Strategic Diagnostics, Inc. (a)	3,743		16,245
SurModics, Inc. (a)(d)	15,757		695,987
	Shares		Value
Symmetry Medical, Inc. (a)	34,850		$ 620,330
Synovis Life Technologies, Inc. (a)	14,155		250,260
The Spectranetics Corp. (a)	37,264		335,376
Theragenics Corp. (a)	45,104		175,004
Thermage, Inc. (a)	10,000		42,200
ThermoGenesis Corp. (a)	39,439		65,469
Thoratec Corp. (a)	55,076		799,153
TomoTherapy, Inc. (d)	35,629		469,234
Trimedyne, Inc. (a)	8,608		4,820
Urologix, Inc. (a)	5,053		5,609
Utah Medical Products, Inc.	3,222		96,370
Vascular Solutions, Inc. (a)	21,325		132,642
Vision Sciences, Inc. (a)	8,293		25,542
Vital Signs, Inc.	9,398		477,888
Vnus Medical Technologies, Inc. (a)	16,000		299,040
Volcano Corp. (a)	31,788		389,721
West Pharmaceutical Services, Inc.	31,870		1,316,231
Wright Medical Group, Inc. (a)	36,747		967,181
Young Innovations, Inc.	3,599		76,803
Zoll Medical Corp. (a)	18,824		468,341
			92,111,504
Health Care Providers & Services - 2.3%
Access Plans USA, Inc. (a)	3,930		3,537
Advocat, Inc. (a)	14,148		167,088
Air Methods Corp. (a)	12,127		498,662
Alliance Imaging, Inc. (a)	30,861		303,055
Allied Healthcare International, Inc. (a)	21,264		43,379
Allion Healthcare, Inc. (a)	9,407		55,501
Almost Family, Inc. (a)	7,418		158,968
Amedisys, Inc. (a)	24,128		1,032,196
America Service Group, Inc. (a)	8,584		62,148
American Dental Partners, Inc. (a)(d)	13,941		133,415
AMERIGROUP Corp. (a)	47,878		1,723,608
AMN Healthcare Services, Inc. (a)	30,872		499,818
AmSurg Corp. (a)	30,687		739,250
Animal Health International, Inc.	18,873		198,921
Apria Healthcare Group, Inc. (a)	37,271		809,153
Arcadia Resources, Inc. (a)	80,061		63,248
Assisted Living Concepts, Inc. Class A (a)	59,315		357,076
athenahealth, Inc. (d)	5,356		174,177
Bio-Reference Laboratories, Inc. (a)	15,824		437,534
BioScrip, Inc. (a)	44,859		315,359
Brookdale Senior Living, Inc. (d)	46,474		1,212,507
Capital Senior Living Corp. (a)	24,577		185,311
Centene Corp. (a)	38,730		694,042
Chemed Corp.	22,259		1,061,977
Chindex International, Inc. (a)	5,445		198,797
Community Health Systems, Inc. (a)	84,017		2,610,408
Comprehensive Care Corp. (a)	300		210
Corvel Corp. (a)	10,620		319,981
Cross Country Healthcare, Inc. (a)	31,101		337,757
DaVita, Inc. (a)	101,936		5,059,084
Dialysis Corp. of America (a)	7,648		63,708
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Providers & Services - continued
Emergency Medical Services Corp. Class A (a)(d)	8,611		$ 212,950
Emeritus Corp. (a)(d)	25,335		560,917
Five Star Quality Care, Inc. (a)	42,257		302,983
Genoptix, Inc.	6,179		158,615
Gentiva Health Services, Inc. (a)	25,101		541,178
Hanger Orthopedic Group, Inc. (a)	21,855		253,299
Health Grades, Inc. (a)	30,002		163,811
Health Management Associates, Inc. Class A	221,984		1,187,614
Health Net, Inc. (a)	99,290		4,362,803
HealthExtras, Inc. (a)	34,078		938,849
HealthSouth Corp. (a)(d)	78,962		1,269,709
Healthspring, Inc. (a)	50,704		889,855
Healthways, Inc. (a)	33,301		1,143,889
HearUSA, Inc. (a)	11,117		14,786
Henry Schein, Inc. (a)	80,970		4,843,625
HMS Holdings Corp. (a)	22,242		608,541
Hooper Holmes, Inc. (a)	50,431		32,780
Hythiam, Inc. (a)(d)	35,825		109,625
I-trax, Inc. (a)(d)	31,500		126,000
Integramed America, Inc. (a)	12,500		126,750
InVentiv Health, Inc. (a)	34,152		1,086,034
Kindred Healthcare, Inc. (a)	30,255		638,078
Landauer, Inc.	9,969		476,518
LCA-Vision, Inc.	19,294		265,871
LHC Group, Inc. (a)(d)	16,020		272,340
LifePoint Hospitals, Inc. (a)	56,593		1,418,221
Lincare Holdings, Inc. (a)	78,452		2,549,690
Magellan Health Services, Inc. (a)	39,018		1,690,650
Matria Healthcare, Inc. (a)	20,805		522,622
Medcath Corp. (a)	16,361		341,127
Medical Staffing Network Holdings, Inc. (a)	8,863		49,190
Metropolitan Health Networks, Inc. (a)	36,067		85,118
Molina Healthcare, Inc. (a)	14,494		458,735
MWI Veterinary Supply, Inc. (a)	13,000		452,790
National Healthcare Corp.	8,401		391,991
National Medical Health Card Systems, Inc. (a)	2,994		31,257
National Research Corp.	1,185		30,763
Nighthawk Radiology Holdings, Inc. (a)	25,612		292,489
NovaMed Eyecare, Inc. (a)(d)	33,673		135,029
Odyssey Healthcare, Inc. (a)	35,991		314,561
Omnicare, Inc.	109,039		2,287,638
Owens & Minor, Inc.	35,142		1,510,052
PainCare Holdings, Inc. (a)	63,158		4,737
PDI, Inc. (a)	3,836		30,189
Pediatrix Medical Group, Inc. (a)	45,198		2,983,520
PharMerica Corp. (a)(d)	24,824		365,409
Providence Service Corp. (a)	11,318		319,054
	Shares		Value
PSS World Medical, Inc. (a)	67,150		$ 1,175,125
Psychemedics Corp.	3,872		63,888
Psychiatric Solutions, Inc. (a)	52,660		1,489,751
RadNet, Inc. (a)	19,082		154,755
RehabCare Group, Inc. (a)	22,431		448,620
ResCare, Inc. (a)	25,421		547,568
Rotech Healthcare, Inc. (a)	15,900		7,155
Rural/Metro Corp. (a)	20,488		55,318
Skilled Healthcare Group, Inc.	21,687		273,256
SRI/Surgical Express, Inc. (a)	2,620		10,978
Sun Healthcare Group, Inc. (a)	33,342		491,461
Sunrise Senior Living, Inc. (a)(d)	37,848		1,036,278
Triple-S Management Corp.	14,334		289,547
U.S. Physical Therapy, Inc. (a)	16,352		216,664
Universal American Financial Corp. (a)	40,660		698,539
Universal Health Services, Inc. Class B	46,914		2,506,146
VCA Antech, Inc. (a)(d)	80,403		2,581,740
VistaCare, Inc. Class A (a)	19,895		170,500
Wellcare Health Plans, Inc. (a)	38,987		1,861,239
			70,450,655
Health Care Technology - 0.3%
A.D.A.M., Inc. (a)	2,620		18,235
Allscripts Healthcare Solutions, Inc. (a)(d)	50,583		539,721
AMICAS, Inc. (a)	31,224		81,807
Arrhythmia Research Technology, Inc. (a)	7,380		51,291
Cash Technologies, Inc. (a)	2,900		537
Cerner Corp. (a)(d)	61,643		2,678,388
Computer Programs & Systems, Inc.	17,274		384,692
Eclipsys Corp. (a)	50,983		1,088,487
Emageon, Inc. (a)	18,876		43,792
HealthAxis, Inc. (a)	190		152
HealthStream, Inc. (a)	6,041		18,244
HLTH Corp. (a)	178,602		2,114,648
iCAD, Inc. (a)	48,360		120,900
MedAssets, Inc.	11,224		203,828
Mediware Information Systems, Inc. (a)	1,310		7,991
Merge Technologies, Inc. (a)	50,544		26,788
Omnicell, Inc. (a)	33,763		641,497
Phase Forward, Inc. (a)	41,634		663,230
ProxyMed, Inc. (a)	3,259		6,160
Quadramed Corp. (a)	35,763		69,738
Transcend Services, Inc. (a)	14,000		131,180
TriZetto Group, Inc. (a)	43,182		842,913
Vital Images, Inc. (a)(d)	24,037		381,227
			10,115,446
Life Sciences Tools & Services - 1.3%
Accelrys, Inc. (a)	29,292		169,601
Affymetrix, Inc. (a)(d)	63,110		1,210,450
Albany Molecular Research, Inc. (a)	29,143		324,362
Alliance Pharmaceutical Corp. (a)	2,080		40
AMAG Pharmaceuticals, Inc. (a)(d)	17,090		748,029
Applera Corp. - Celera Genomics Group (a)	82,681		1,145,959
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Life Sciences Tools & Services - continued
Bio-Imaging Technologies, Inc. (a)	2,110		$ 17,154
Bio-Rad Laboratories, Inc. Class A (a)	17,876		1,688,209
Bioanalytical Systems, Inc. (a)	4,772		29,300
Biodelivery Sciences International, Inc. (a)	20,000		50,600
Bruker BioSciences Corp. (a)	104,406		1,427,230
Caliper Life Sciences, Inc. (a)	28,993		120,901
Cambrex Corp.	25,026		218,477
Charles River Laboratories International, Inc. (a)	65,086		3,812,738
Covance, Inc. (a)	59,909		5,056,919
Cryo-Cell International, Inc. (a)	6,550		5,764
Dionex Corp. (a)(d)	18,099		1,336,068
Encorium Group, Inc. (a)	7,298		16,129
Enzo Biochem, Inc. (a)	38,087		358,780
eResearchTechnology, Inc. (a)(d)	43,611		521,588
Exelixis, Inc. (a)	109,028		695,599
Harvard Bioscience, Inc. (a)	8,617		39,552
Illumina, Inc. (a)(d)	53,500		3,873,935
Immunicon Corp. (a)	7,192		7,767
Interleukin Genetics, Inc. (a)	6,973		10,250
Invitrogen Corp. (a)	43,709		3,692,973
Kendle International, Inc. (a)	13,470		603,591
Luminex Corp. (a)(d)	33,223		578,412
Medivation, Inc. (a)(d)	23,143		370,519
Medtox Scientific, Inc. (a)	8,211		131,294
Nektar Therapeutics (a)(d)	106,738		741,829
Ore Pharmaceuticals, Inc. (a)	7,441		5,023
PAREXEL International Corp. (a)	28,085		1,543,271
Pharmaceutical Product Development, Inc.	96,753		4,360,658
PharmaNet Development Group, Inc. (a)	19,840		571,987
Sequenom, Inc. (a)	42,290		295,607
Techne Corp. (a)	38,551		2,636,503
Varian, Inc. (a)	29,337		1,588,599
			40,005,667
Pharmaceuticals - 0.9%
Acusphere, Inc. (a)	1,403		884
Adolor Corp. (a)	74,840		342,019
Akorn, Inc. (a)(d)	56,621		360,110
Alexza Pharmaceuticals, Inc. (a)	30,076		190,080
Alpharma, Inc. Class A (a)	44,734		1,126,402
Anesiva, Inc. (a)	1,142		5,436
APP Pharmaceuticals, Inc. (a)(d)	23,499		264,129
Atherogenics, Inc. (a)	26,187		23,045
Auxilium Pharmaceuticals, Inc. (a)	33,683		1,079,203
AVANIR Pharmaceuticals Class A (a)	14,261		17,256
Barrier Therapeutics, Inc. (a)	6,541		23,875
Bentley Pharmaceuticals, Inc. (a)	12,642		187,481
BioMimetic Therapeutics, Inc. (a)	12,723		174,814
	Shares		Value
Cadence Pharmaceuticals, Inc. (a)(d)	23,197		$ 121,552
Caraco Pharmaceutical Laboratories Ltd. (a)	20,224		332,280
Collagenex Pharmaceuticals, Inc. (a)	22,008		359,171
Columbia Laboratories, Inc. (a)	36,536		89,513
Corcept Therapeutics, Inc. (a)	7,957		20,449
Cypress Bioscience, Inc. (a)(d)	33,937		271,496
DepoMed, Inc. (a)	68,230		231,982
Discovery Laboratories, Inc. (a)	101,338		210,783
Durect Corp. (a)(d)	73,527		365,429
Emisphere Technologies, Inc. (a)(d)	22,624		41,176
Endo Pharmaceuticals Holdings, Inc. (a)	126,193		3,313,828
Heska Corp. (a)	20,430		30,236
Hi-Tech Pharmacal Co., Inc. (a)	9,053		100,850
Hollis-Eden Pharmaceuticals, Inc. (a)	6,761		12,778
Immtech Pharmaceuticals, Inc. (a)	2,377		1,902
Inspire Pharmaceuticals, Inc. (a)	46,517		208,861
Interpharm Holdings, Inc. (a)(d)	2,260		373
Ista Pharmaceuticals, Inc. (a)	7,132		29,883
Javelin Pharmaceuticals, Inc. (a)(d)	36,213		104,656
KV Pharmaceutical Co. Class A (a)	35,773		898,618
Matrixx Initiatives, Inc. (a)	11,209		162,531
Medicines Co. (a)	51,295		987,942
Medicis Pharmaceutical Corp. Class A	52,576		1,078,334
MiddleBrook Pharmaceuticals, Inc. (a)(d)	4,491		18,952
Nastech Pharmaceutical Co., Inc. (a)(d)	27,713		64,017
NitroMed, Inc. (a)	19,202		21,314
Noven Pharmaceuticals, Inc. (a)	33,333		451,995
Nutrition 21, Inc. (a)	16,280		9,278
Obagi Medical Products, Inc. (a)	17,005		264,598
Oxis International, Inc. (a)	5,100		561
Pain Therapeutics, Inc. (a)(d)	34,510		290,919
Par Pharmaceutical Companies, Inc. (a)	32,153		568,787
Penwest Pharmaceuticals Co. (a)	18,669		57,501
Perrigo Co.	74,464		2,488,587
Pozen, Inc. (a)(d)	22,220		270,862
Questcor Pharmaceuticals, Inc. (a)(d)	47,623		214,304
Repros Therapeutics, Inc. (a)(d)	15,715		131,692
Salix Pharmaceuticals Ltd. (a)(d)	45,480		306,990
Santarus, Inc. (a)	45,220		81,396
Sciele Pharma, Inc. (a)(d)	30,021		621,435
SCOLR Pharma, Inc. (a)(d)	17,200		22,188
Sepracor, Inc. (a)	105,741		2,270,259
Sirtris Pharmaceuticals, Inc. (d)	21,173		252,806
Somaxon Pharmaceuticals, Inc. (a)(d)	7,756		37,306
Spectrum Pharmaceuticals, Inc. (a)(d)	57,989		150,192
SuperGen, Inc. (a)(d)	50,317		138,372
Valeant Pharmaceuticals International (a)	83,751		1,151,576
ViroPharma, Inc. (a)	77,129		706,502
Vivus, Inc. (a)(d)	59,578		349,127
Warner Chilcott Ltd. (a)	76,979		1,298,636
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Pharmaceuticals - continued
XenoPort, Inc. (a)	22,723		$ 1,162,736
Zila, Inc. (a)	11,602		6,497
			26,178,742
TOTAL HEALTH CARE			339,124,685
INDUSTRIALS - 13.1%
Aerospace & Defense - 1.0%
AAR Corp. (a)	38,238		989,982
AeroVironment, Inc.	15,521		329,666
Alabama Aircraft Industries, Inc. (a)	664		2,125
Alliant Techsystems, Inc. (a)	30,552		3,206,127
American Science & Engineering, Inc.	9,514		515,278
Applied Energetics, Inc. (a)(d)	50,433		118,518
Applied Signal Technology, Inc.	17,972		213,867
Argon ST, Inc. (a)	20,181		327,941
Ascent Solar Technologies, Inc. (a)(d)	22,936		342,205
Astronics Corp. (a)	8,502		167,915
BE Aerospace, Inc. (a)	89,241		3,060,966
Breeze Industrial Products Corp. (a)	9,000		97,830
Ceradyne, Inc. (a)	22,346		695,184
CPI Aerostructures, Inc. (a)	1,677		14,154
Cubic Corp.	19,229		491,686
Curtiss-Wright Corp.	42,647		1,793,733
DRS Technologies, Inc.	39,834		2,234,289
Ducommun, Inc. (a)	10,449		289,751
DynCorp International, Inc. Class A (a)	24,151		401,390
Esterline Technologies Corp. (a)	26,316		1,378,958
GenCorp, Inc. (non-vtg.) (a)	61,833		643,063
Heico Corp. Class A	19,833		721,723
Herley Industries, Inc. (a)	12,228		146,614
Hexcel Corp. (a)	86,202		1,740,418
Innovative Solutions & Support, Inc. (a)(d)	8,701		78,744
Irvine Sensors Corp. (a)	390		160
Ladish Co., Inc. (a)	14,096		503,227
LMI Aerospace, Inc. (a)	12,245		233,022
Moog, Inc. Class A (a)	35,483		1,456,222
MTC Technologies, Inc. (a)	13,607		322,486
Orbital Sciences Corp. (a)	53,836		1,165,549
Spirit AeroSystems Holdings, Inc. Class A (a)	97,539		2,635,504
Stanley, Inc. (a)	13,971		386,857
Sypris Solutions, Inc.	8,306		39,952
Taser International, Inc. (a)(d)	59,232		667,545
Teledyne Technologies, Inc. (a)	31,810		1,412,364
The Allied Defense Group, Inc. (a)(d)	7,168		53,402
Todd Shipyards Corp.	6,043		102,006
TransDigm Group, Inc. (a)	22,172		861,604
Triumph Group, Inc.	15,006		849,190
TVI Corp. (a)	29,926		9,876
			30,701,093
	Shares		Value
Air Freight & Logistics - 0.2%
ABX Air, Inc. (a)	82,053		$ 251,082
AirNet Systems, Inc. (a)	400		680
Atlas Air Worldwide Holdings, Inc. (a)	15,089		763,503
Dynamex, Inc. (a)	16,027		370,544
Forward Air Corp.	27,631		810,970
Hub Group, Inc. Class A (a)	36,585		1,097,184
Pacer International, Inc.	38,096		585,536
Park-Ohio Holdings Corp. (a)	8,657		178,940
UTI Worldwide, Inc.	81,490		1,367,402
			5,425,841
Airlines - 0.7%
AirTran Holdings, Inc. (a)(d)	81,281		586,849
Alaska Air Group, Inc. (a)	41,257		1,006,671
Allegiant Travel Co. (a)	14,299		389,076
AMR Corp. (a)(d)	215,620		2,762,092
Continental Airlines, Inc. Class B (a)(d)	88,304		2,135,191
Delta Air Lines, Inc. (a)(d)	253,383		3,382,663
ExpressJet Holdings, Inc. Class A (a)	34,207		83,123
Frontier Airlines Holdings, Inc. (a)(d)	62,709		183,737
Hawaiian Holdings, Inc. (a)	24,994		129,969
JetBlue Airways Corp. (a)(d)	161,017		877,543
MAIR Holdings, Inc. (a)	10,106		43,254
Mesa Air Group, Inc. (a)	31,372		75,920
Northwest Airlines Corp. (a)	219,560		2,948,691
Pinnacle Airlines Corp. (a)(d)	20,690		231,935
Republic Airways Holdings, Inc. (a)	35,185		687,867
SkyWest, Inc.	61,605		1,362,703
UAL Corp. (d)	110,202		3,339,121
US Airways Group, Inc. (a)	79,762		989,049
			21,215,454
Building Products - 0.4%
Aaon, Inc.	23,521		388,332
Advanced Environmental Recycling Technologies, Inc. Class A (a)	11,364		10,228
American Woodmark Corp. (d)	10,570		200,619
Ameron International Corp.	7,159		790,139
Apogee Enterprises, Inc.	31,197		480,122
Armstrong World Industries, Inc. (a)	20,296		730,656
Builders FirstSource, Inc. (a)(d)	13,109		86,913
Gibraltar Industries, Inc.	35,039		382,976
Griffon Corp. (a)	22,241		196,833
Insteel Industries, Inc.	17,667		190,274
Lennox International, Inc.	56,770		2,136,823
NCI Building Systems, Inc. (a)	19,180		581,921
Owens Corning (a)(d)	85,968		1,621,356
PGT, Inc. (a)	16,670		56,678
Simpson Manufacturing Co. Ltd. (d)	33,985		814,281
Trex Co., Inc. (a)(d)	9,177		71,581
Universal Forest Products, Inc.	18,247		506,902
US Home Systems, Inc. (a)	9,441		42,390
USG Corp. (a)(d)	73,191		2,490,690
			11,779,714
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - 2.9%
A.T. Cross Co. Class A (a)	7,939		$ 61,924
ABM Industries, Inc.	39,362		781,729
ACCO Brands Corp. (a)	50,484		700,213
Administaff, Inc.	23,121		570,164
Advisory Board Co. (a)	18,577		1,032,324
American Ecology Corp.	21,967		547,198
American Reprographics Co. (a)	34,197		553,307
Amrep Corp. (d)	2,187		81,356
Angelica Corp.	10,844		179,468
APAC Customer Services, Inc. (a)	13,380		14,852
Arrowhead Research Corp. (a)	22,957		56,015
Barrett Business Services, Inc.	6,200		100,440
Bowne & Co., Inc.	31,996		424,587
Casella Waste Systems, Inc. Class A (a)	29,398		290,746
CBIZ, Inc. (a)	60,148		535,317
CDI Corp.	10,663		242,583
CECO Environmental Corp. (a)	10,861		98,618
Cenveo, Inc. (a)	45,733		687,824
ChoicePoint, Inc. (a)	72,864		3,526,618
Clean Harbors, Inc. (a)	14,832		912,465
Comfort Systems USA, Inc.	42,341		503,858
Competitive Technologies, Inc. (a)	3,836		6,713
Comsys IT Partners, Inc. (a)	21,618		203,642
Consolidated Graphics, Inc. (a)	11,385		605,568
Copart, Inc. (a)	62,179		2,590,377
Cornell Companies, Inc. (a)	9,523		198,174
Corporate Executive Board Co.	34,304		1,393,085
Corrections Corp. of America (a)	116,179		3,120,568
CoStar Group, Inc. (a)(d)	20,150		836,628
Courier Corp.	12,569		342,002
Covanta Holding Corp. (a)	104,024		2,983,408
CRA International, Inc. (a)	12,297		467,040
Deluxe Corp.	48,605		1,012,442
Diamond Management & Technology Consultants, Inc.	25,988		154,109
Document Security Systems, Inc. (a)(d)	9,753		43,889
Duff & Phelps Corp. Class A	8,366		128,000
Dun & Bradstreet Corp.	58,645		5,122,054
EnergySolutions, Inc.	28,000		610,400
Ennis, Inc.	22,496		359,036
Exponent, Inc. (a)	15,355		446,831
First Advantage Corp. Class A (a)	10,252		203,912
Food Technology Service, Inc. (a)	6,071		12,810
FTI Consulting, Inc. (a)	45,682		2,900,807
Fuel Tech, Inc. (a)(d)	17,173		344,662
G&K Services, Inc. Class A	19,453		744,272
GeoEye, Inc. (a)	20,442		617,553
GP Strategies Corp. (a)	14,690		137,352
Healthcare Services Group, Inc.	34,937		691,054
Heidrick & Struggles International, Inc.	16,722		572,394
Herman Miller, Inc.	59,512		1,775,243
	Shares		Value
Hill International, Inc. (a)	10,000		$ 127,500
HNI Corp. (d)	34,454		1,018,460
Hudson Highland Group, Inc. (a)	28,033		208,846
Humitech International Group, Inc. (a)	75		0
Huron Consulting Group, Inc. (a)	17,761		942,399
ICF International, Inc. (a)	9,874		257,119
ICT Group, Inc. (a)	7,987		68,608
IHS, Inc. Class A (a)	31,000		1,911,150
IKON Office Solutions, Inc.	76,988		548,155
InnerWorkings, Inc. (a)(d)	29,905		411,792
Innotrac Corp. (a)	3,181		10,815
Interface, Inc. Class A	56,518		947,242
Intersections, Inc. (a)	3,842		31,466
Kaiser Ventures LLC Class A (a)	100		0
Kelly Services, Inc. Class A (non-vtg.)	26,568		510,371
Kenexa Corp. (a)	20,075		406,720
Kforce, Inc. (a)	42,225		361,024
Kimball International, Inc. Class B	25,065		261,929
Knoll, Inc.	51,127		719,868
Korn/Ferry International (a)	50,788		856,286
Layne Christensen Co. (a)	19,385		776,175
Learning Tree International, Inc. (a)	12,160		163,674
LECG Corp. (a)	28,005		266,048
M&F Worldwide Corp. (a)	13,753		509,274
Mac-Gray Corp. (a)	3,487		40,310
Manpower, Inc.	79,638		4,515,475
McGrath RentCorp.	22,234		465,580
Medialink Worldwide, Inc. (a)(d)	9,153		20,594
Metalico, Inc. (a)	33,538		390,047
Mine Safety Appliances Co.	26,004		1,043,020
Mobile Mini, Inc. (a)(d)	32,900		612,269
Multi-Color Corp.	11,002		237,863
Navigant Consulting, Inc. (a)	45,819		747,308
Odyssey Marine Exploration, Inc. (a)	41,200		201,880
On Assignment, Inc. (a)	54,114		334,966
PeopleSupport, Inc. (a)(d)	22,685		263,373
Perma-Fix Environmental Services, Inc. (a)	8,161		15,179
PHH Corp. (a)	48,705		985,789
Pike Electric Corp. (a)	16,493		213,254
PRG-Schultz International, Inc. (a)	12,296		108,328
Protection One, Inc. (a)(d)	2,194		19,219
RCM Technologies, Inc. (a)	14,333		76,108
Republic Services, Inc.	151,573		4,627,524
Resources Connection, Inc.	48,181		775,714
Rollins, Inc.	47,506		838,481
RSC Holdings, Inc. (d)	37,129		418,444
Schawk, Inc. Class A	8,849		139,372
School Specialty, Inc. (a)	19,272		588,181
Spherion Corp. (a)	59,543		385,839
Spherix, Inc. (a)	5,297		5,668
Standard Parking Corp. (a)	7,744		157,358
Standard Register Co.	23,184		198,223
Steelcase, Inc. Class A	58,356		827,488
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - continued
Stericycle, Inc. (a)	83,333		$ 4,490,815
Superior Uniform Group, Inc.	4,343		42,996
Team, Inc. (a)	18,690		569,858
TeamStaff, Inc. (a)	6,456		4,519
Teletech Holdings, Inc. (a)	35,906		810,398
Tetra Tech, Inc. (a)	51,793		977,334
The Brink's Co.	39,844		2,666,759
The Geo Group, Inc. (a)	46,716		1,246,850
TRC Companies, Inc. (a)	3,649		18,500
TrueBlue, Inc. (a)	41,139		513,826
U.S. Liquids, Inc. (a)	500		0
United Stationers, Inc. (a)(d)	27,725		1,368,506
UTEK Corp. (d)	10,333		124,409
Viad Corp.	21,193		734,761
Virco Manufacturing Co.	4,818		28,619
Volt Information Sciences, Inc. (a)	18,549		298,082
VSE Corp.	2,868		91,059
Waste Connections, Inc. (a)	64,678		1,963,624
Waste Industries USA, Inc.	10,457		382,622
Waterlink, Inc. (a)	13,000		1
Watson Wyatt Worldwide, Inc. Class A	38,032		2,017,598
WCA Waste Corp. (a)	14,127		86,175
Westaff, Inc. (a)	6,445		26,167
			89,556,884
Construction & Engineering - 1.1%
AECOM Technology Corp.	66,894		1,733,892
EMCOR Group, Inc. (a)	60,467		1,456,650
Foster Wheeler Ltd. (a)	136,440		8,929,998
Furmanite Corp. (a)	33,501		367,841
Granite Construction, Inc.	30,674		926,048
Great Lakes Dredge & Dock Corp.	43,369		264,985
Insituform Technologies, Inc. Class A (a)(d)	33,807		472,284
Integrated Electrical Services, Inc. (a)	10,323		178,175
KBR, Inc. (a)	161,701		5,389,494
Michael Baker Corp. (a)	6,664		191,923
Modtech Holdings, Inc. (a)	5,824		2,796
Northwest Pipe Co. (a)	8,811		367,771
Perini Corp. (a)	24,626		922,982
Quanta Services, Inc. (a)	163,356		3,900,941
Shaw Group, Inc. (a)	70,164		4,517,158
Sterling Construction Co., Inc. (a)	13,692		275,346
URS Corp. (a)	79,311		3,194,647
			33,092,931
Electrical Equipment - 1.5%
A.O. Smith Corp.	19,474		709,438
Active Power, Inc. (a)	42,574		76,633
Acuity Brands, Inc.	39,353		1,747,667
Advanced Battery Technologies, Inc. (a)(d)	30,270		140,453
American Superconductor Corp. (a)(d)	33,903		765,869
	Shares		Value
AMETEK, Inc.	99,826		$ 4,251,589
AML Communications, Inc. (a)	4,959		6,645
AZZ, Inc. (a)	14,388		509,623
Baldor Electric Co.	40,317		1,155,888
Beacon Power Corp. (a)(d)	103,037		121,584
Belden, Inc.	40,134		1,577,266
Brady Corp. Class A	45,014		1,376,528
BTU International, Inc. (a)	5,333		57,170
C&D Technologies, Inc. (a)(d)	41,016		223,947
Capstone Turbine Corp. (a)	73,813		134,340
Chase Corp.	10,862		256,343
Coleman Cable, Inc. (a)(d)	9,142		107,967
Digital Power Corp. (a)	4,959		5,207
Encore Wire Corp. (d)	16,325		273,444
Energy Conversion Devices, Inc. (a)(d)	39,649		1,053,474
Energy Focus, Inc. (a)	9,000		45,630
EnerSys (a)	36,162		831,364
Evergreen Solar, Inc. (a)(d)	91,744		881,660
EXX, Inc. Class A (a)	3,975		12,124
First Solar, Inc. (a)	33,523		6,878,920
Franklin Electric Co., Inc. (d)	16,674		549,909
FuelCell Energy, Inc. (a)(d)	76,681		549,036
General Cable Corp. (a)	47,846		2,953,055
GrafTech International Ltd. (a)	93,120		1,491,782
Hoku Scientific, Inc. (a)(d)	35,507		340,867
Hubbell, Inc. Class B	51,302		2,327,572
II-VI, Inc. (a)	24,899		815,193
LaBarge, Inc. (a)	3,526		45,979
LSI Industries, Inc.	22,573		299,995
MagneTek, Inc. (a)	24,905		84,926
Medis Technologies Ltd. (a)(d)	30,558		330,943
Microfield Group, Inc. (a)	20,770		15,578
Microvision, Inc. (a)(d)	92,242		232,450
Millennium Cell, Inc. (a)	10,760		2,260
Plug Power, Inc. (a)	99,558		299,670
Polypore International, Inc.	13,051		234,526
Powell Industries, Inc. (a)	8,427		321,237
Power-One, Inc. (a)	77,604		201,770
PowerSecure International, Inc. (a)(d)	19,994		266,120
Preformed Line Products Co. (d)	2,387		112,666
Regal-Beloit Corp.	30,973		1,143,523
Roper Industries, Inc.	82,590		4,658,076
Satcon Technology Corp. (a)(d)	5,988		11,557
Sunpower Corp. Class A (a)(d)	34,283		2,253,079
Superior Essex, Inc. (a)	17,936		509,024
Technology Research Corp.	3,139		9,166
Thomas & Betts Corp. (a)(d)	52,980		2,127,147
Ultralife Batteries, Inc. (a)	14,770		208,405
Universal Security Instruments, Inc. (a)	4,000		26,120
UQM Technologies, Inc. (a)	9,558		20,836
Valence Technology, Inc. (a)(d)	28,181		103,424
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Electrical Equipment - continued
Vicor Corp.	24,837		$ 301,273
Woodward Governor Co.	54,730		1,563,636
			47,611,573
Industrial Conglomerates - 0.6%
Carlisle Companies, Inc.	54,319		1,984,273
McDermott International, Inc. (a)	214,047		11,177,534
Raven Industries, Inc. (d)	17,290		506,251
Standex International Corp.	13,917		264,562
Teleflex, Inc.	36,772		2,079,457
Tredegar Corp.	22,613		357,512
Walter Industries, Inc.	49,966		2,729,643
			19,099,232
Machinery - 3.1%
3D Systems Corp. (a)(d)	19,147		276,866
Accuride Corp. (a)	25,655		185,229
Actuant Corp. Class A	52,858		1,420,823
AGCO Corp. (a)	86,599		5,616,811
Alamo Group, Inc.	3,665		67,949
Albany International Corp. Class A	23,271		798,893
Altra Holdings, Inc. (a)	31,400		403,490
American Railcar Industries, Inc.	10,875		270,135
Ampco-Pittsburgh Corp.	7,482		283,269
Astec Industries, Inc. (a)	16,319		617,837
Axsys Technologies, Inc. (a)	11,318		497,992
Badger Meter, Inc.	12,727		485,790
Baldwin Technology Co., Inc. Class A (a)	3,555		9,279
Barnes Group, Inc.	36,936		839,925
Basin Water, Inc. (a)(d)	20,625		160,256
Blount International, Inc. (a)	43,706		521,413
Briggs & Stratton Corp.	48,785		871,788
Bucyrus International, Inc. Class A	34,034		3,399,316
Cascade Corp.	10,800		483,840
Chart Industries, Inc. (a)	28,453		976,222
CIRCOR International, Inc.	16,789		764,739
CLARCOR, Inc.	49,508		1,772,386
Columbus McKinnon Corp. (NY Shares) (a)	17,143		490,976
Commercial Vehicle Group, Inc. (a)	23,576		220,671
Crane Co.	47,614		1,963,125
Donaldson Co., Inc.	66,671		2,810,849
Dynamic Materials Corp.	11,531		657,152
Eastern Co.	7,453		125,956
EnPro Industries, Inc. (a)	20,407		602,619
ESCO Technologies, Inc. (a)(d)	26,210		866,503
Federal Signal Corp.	41,599		502,100
Flanders Corp. (a)	10,793		67,996
Flow International Corp. (a)	49,040		361,425
Flowserve Corp.	54,088		5,890,183
Force Protection, Inc. (a)(d)	60,924		250,398
	Shares		Value
FreightCar America, Inc.	14,535		$ 582,563
Gardner Denver, Inc. (a)	48,958		1,807,040
Gehl Co. (a)	12,189		195,390
Gorman-Rupp Co.	18,366		501,392
Graco, Inc. (d)	57,249		1,987,113
Graham Corp.	5,047		194,209
Greenbrier Companies, Inc. (d)	15,064		395,882
Hardinge, Inc.	9,527		118,230
Harsco Corp.	77,412		4,373,004
Hirsch International Corp. Class A (a)	2,100		3,927
Hurco Companies, Inc. (a)	6,978		308,567
IDEX Corp.	71,626		2,160,240
Joy Global, Inc.	103,292		6,855,490
K-Tron International, Inc. (a)	3,234		377,505
Kadant, Inc. (a)	16,324		409,732
Kaydon Corp.	27,179		1,160,815
Kennametal, Inc.	69,036		2,096,623
Key Technology, Inc. (a)	5,197		183,506
L.B. Foster Co. Class A (a)	12,118		513,318
Lincoln Electric Holdings, Inc.	40,877		2,744,482
Lindsay Corp.	9,496		746,576
Lydall, Inc. (a)	19,210		195,750
Met-Pro Corp.	8,774		95,373
MFRI, Inc. (a)(d)	7,618		123,412
Middleby Corp. (a)(d)	16,424		1,116,832
Milacron, Inc. (a)	1,345		3,968
Miller Industries, Inc. (a)	8,914		103,046
Mueller Industries, Inc.	38,224		1,098,176
Mueller Water Products, Inc. Class B	116,137		1,011,553
NACCO Industries, Inc. Class A	5,002		405,412
Nordson Corp.	29,175		1,499,303
Omega Flex, Inc.	3,426		51,390
Oshkosh Co.	71,038		2,846,493
Paragon Technologies, Inc. (a)	1,565		9,484
Pentair, Inc.	92,880		3,029,746
Portec Rail Products, Inc.	5,406		56,925
RBC Bearings, Inc. (a)	22,455		754,488
Robbins & Myers, Inc.	25,382		864,257
Spire Corp. (a)	200		3,186
SPX Corp.	56,618		5,792,021
Sun Hydraulics Corp.	15,960		346,811
Tecumseh Products Co. Class A (non-vtg.) (a)	17,767		376,305
Tennant Co.	17,405		627,972
The L.S. Starrett Co. Class A	5,190		90,514
Timken Co.	74,582		2,247,156
Titan International, Inc.	23,935		813,551
Toro Co. (d)	36,128		1,740,647
TriMas Corp.	13,518		104,494
Trinity Industries, Inc. (d)	71,125		2,003,591
TurboChef Technologies, Inc. (a)(d)	22,172		188,462
Twin Disc, Inc.	12,210		247,375
Valmont Industries, Inc.	17,665		1,411,434
Wabash National Corp.	46,716		369,056
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Machinery - continued
Wabtec Corp.	43,865		$ 1,518,168
Watts Water Technologies, Inc. Class A (d)	25,624		710,297
Xerium Technologies, Inc.	21,467		107,550
			95,214,003
Marine - 0.3%
Alexander & Baldwin, Inc. (d)	39,208		1,726,720
American Commercial Lines, Inc. (a)(d)	48,129		818,193
Eagle Bulk Shipping, Inc. (d)	44,001		1,171,747
Excel Maritime Carriers Ltd. (d)	14,221		453,223
Genco Shipping & Trading Ltd.	22,224		1,294,992
Horizon Lines, Inc. Class A	32,349		652,479
International Shipholding Corp. (a)	4,464		85,084
Kirby Corp. (a)(d)	51,673		2,329,419
OceanFreight, Inc.	10,013		220,586
TBS International Ltd. Class A (a)(d)	9,962		343,091
			9,095,534
Road & Rail - 0.6%
AMERCO (a)(d)	7,255		378,058
Arkansas Best Corp. (d)	21,525		574,933
Avis Budget Group, Inc. (a)	98,204		1,122,472
Celadon Group, Inc. (a)	27,289		245,601
Con-way, Inc.	42,610		1,930,659
Covenant Transport Group, Inc. Class A (a)	4,491		35,344
Dollar Thrifty Automotive Group, Inc. (a)	20,712		297,424
Frozen Food Express Industries, Inc.	4,026		27,860
Genesee & Wyoming, Inc. Class A (a)	38,427		1,191,237
Heartland Express, Inc. (d)	66,575		930,719
Hertz Global Holdings, Inc. (a)	130,213		1,553,441
J.B. Hunt Transport Services, Inc.	88,505		2,422,382
Kansas City Southern (a)(d)	71,158		2,547,456
Knight Transportation, Inc. (d)	47,474		702,140
Landstar System, Inc.	53,189		2,466,906
Marten Transport Ltd. (a)	18,360		266,036
Old Dominion Freight Lines, Inc. (a)	30,609		834,095
P.A.M. Transportation Services, Inc. (a)	12,026		174,377
Patriot Transportation Holding, Inc. (a)	534		41,396
Quality Distribution, Inc. (a)	6,526		20,035
Saia, Inc. (a)	23,699		342,451
Universal Truckload Services, Inc. (a)	5,000		93,400
USA Truck, Inc. (a)	4,594		60,962
Werner Enterprises, Inc.	50,060		890,567
YRC Worldwide, Inc. (a)(d)	51,688		711,227
			19,861,178
Trading Companies & Distributors - 0.7%
Aceto Corp.	20,271		142,100
Aircastle Ltd.	42,316		871,710
Applied Industrial Technologies, Inc.	35,142		971,325
Beacon Roofing Supply, Inc. (a)	40,814		349,368
	Shares		Value
BlueLinx Corp. (d)	14,464		$ 78,684
Electro Rent Corp.	14,337		186,094
Empire Resources, Inc.	3,903		19,164
Fastenal Co. (d)	135,068		5,491,865
GATX Corp.	40,734		1,465,609
H&E Equipment Services, Inc. (a)	22,445		350,142
Houston Wire & Cable Co. (d)	15,402		223,329
Huttig Building Products, Inc. (a)	6,924		20,634
Interline Brands, Inc. (a)	28,956		514,548
Kaman Corp.	23,582		565,968
Lawson Products, Inc.	2,516		63,906
MSC Industrial Direct Co., Inc. Class A	43,933		1,782,801
NuCo2, Inc. (a)	17,247		476,535
Rush Enterprises, Inc. Class A (a)	37,813		560,389
TAL International Group, Inc.	21,941		457,909
Textainer Group Holdings Ltd.	12,459		183,646
UAP Holding Corp. (d)	46,675		1,796,988
United Rentals, Inc. (a)	74,570		1,498,857
Watsco, Inc. (d)	21,929		833,302
WESCO International, Inc. (a)	40,932		1,637,280
Willis Lease Finance Corp. (a)	2,246		27,850
			20,570,003
Transportation Infrastructure - 0.0%
Macquarie Infrastructure Co. LLC	37,538		1,257,898
Quixote Corp.	10,799		151,726
			1,409,624
TOTAL INDUSTRIALS			404,633,064
INFORMATION TECHNOLOGY - 13.3%
Communications Equipment - 1.3%
3Com Corp. (a)	367,515		1,209,124
Acme Packet, Inc. (a)	19,434		155,861
ADC Telecommunications, Inc. (a)	112,244		1,534,375
Adtran, Inc.	53,503		985,525
Airspan Networks, Inc. (a)	55,386		63,694
Alliance Fiber Optic Products, Inc. (a)	23,499		36,423
AltiGen Communications, Inc. (a)	1,965		3,105
Anaren, Inc. (a)	13,340		168,618
Arris Group, Inc. (a)	149,655		860,516
Aruba Networks, Inc.	29,767		166,993
Avanex Corp. (a)	199,217		161,565
Avici Systems, Inc.	20,518		157,373
Avocent Corp. (a)	46,008		769,714
Aware, Inc. (a)	10,854		43,307
Bel Fuse, Inc. Class B (non-vtg.)	12,174		331,985
BigBand Networks, Inc.	20,709		129,017
Black Box Corp.	18,367		569,377
Blue Coat Systems, Inc. (a)	33,065		776,366
Bookham, Inc. (a)	57,200		83,512
Comarco, Inc.	2,807		12,940
CommScope, Inc. (a)	62,456		2,615,657
Communications Systems, Inc.	2,049		23,195
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Communications Equipment - continued
Comtech Telecommunications Corp. (a)	21,525		$ 933,755
Digi International, Inc. (a)	32,262		339,719
Ditech Networks, Inc. (a)	24,840		67,813
Dycom Industries, Inc. (a)	41,110		470,298
EchoStar Holding Corp. Class A (a)	38,406		1,538,544
EFJ, Inc. (a)	12,549		16,941
EMS Technologies, Inc. (a)	13,418		386,304
Endwave Corp. (a)	18,064		126,448
Entrada Networks, Inc. (a)	292		0
eOn Communications Corp. (a)	3,013		1,386
Extreme Networks, Inc. (a)	110,073		331,320
Ezenia!, Inc. (a)	2,900		2,001
F5 Networks, Inc. (a)	83,346		1,846,947
Finisar Corp. (a)	237,565		382,480
Foundry Networks, Inc. (a)	123,296		1,463,524
Globecomm Systems, Inc. (a)	18,319		161,390
Harmonic, Inc. (a)	90,519		806,524
Harris Corp.	130,263		6,360,742
Harris Stratex Networks, Inc. Class A (a)	25,381		254,825
Hughes Communications, Inc. (a)	2,184		102,058
Infinera Corp.	66,759		779,745
InterDigital, Inc. (a)(d)	46,613		810,600
ISCO International, Inc. (a)	19,929		3,986
Ixia (a)	47,514		356,830
KVH Industries, Inc. (a)	19,517		169,408
Lantronix, Inc. (a)	17,964		12,934
Loral Space & Communications Ltd. (a)	12,027		291,775
MasTec, Inc. (a)	45,917		399,937
MRV Communications, Inc. (a)	91,561		146,498
NETGEAR, Inc. (a)	35,151		766,995
Network Engines, Inc. (a)	9,093		13,094
Network Equipment Technologies, Inc. (a)	26,253		149,642
Nextwave Wireless, Inc. (a)(d)	46,937		252,990
NMS Communications Corp. (a)	36,033		45,762
NumereX Corp. Class A (a)	4,959		39,474
Occam Networks, Inc. (a)	8,924		51,759
Oplink Communications, Inc. (a)	24,767		307,854
Opnext, Inc.	21,452		99,108
Optelecom Nkf, Inc. (a)	1,053		7,887
Optical Cable Corp. (a)	1,228		5,047
Optium Corp. (a)	14,784		101,418
ORBCOMM, Inc. (a)(d)	31,095		177,242
Packeteer, Inc. (a)	33,076		147,850
Parkervision, Inc. (a)(d)	28,207		245,119
PC-Tel, Inc. (a)	22,837		152,551
Pegasus Wireless Corp. warrants 8/11/08 (a)	4,310		1
Performance Technologies, Inc. (a)	4,304		20,186
Plantronics, Inc.	44,599		841,137
Polycom, Inc. (a)	87,526		1,908,067
Powerwave Technologies, Inc. (a)	111,385		318,561
	Shares		Value
Proxim Wireless Corp. (a)	2,250		$ 2,228
Radyne Corp. (a)	20,583		188,129
Riverbed Technology, Inc. (a)	50,088		1,004,765
SCM Microsystems, Inc. (a)	4,117		12,269
SeaChange International, Inc. (a)	31,672		186,865
ShoreTel, Inc.	12,518		66,596
Sonus Networks, Inc. (a)(d)	227,117		754,028
Starent Networks Corp. (d)	28,090		441,856
Sycamore Networks, Inc. (a)	185,978		649,063
Symmetricom, Inc. (a)	44,266		151,390
Tekelec (a)	62,915		749,318
Telkonet, Inc. (a)(d)	34,540		28,323
Telular Corp. (a)	14,093		49,607
Tollgrade Communications, Inc. (a)	15,734		86,852
UTStarcom, Inc. (a)(d)	98,847		278,749
Veramark Technologies, Inc. (a)	1,700		1,360
ViaSat, Inc. (a)	29,918		627,380
Vyyo, Inc. (a)(d)	7,423		10,763
Wegener Corp. (a)	11,602		10,674
Westell Technologies, Inc. Class A (a)	93,476		164,518
WJ Communications, Inc. (a)	17,073		12,293
Zhone Technologies, Inc. (a)	173,196		187,052
			40,738,796
Computers & Peripherals - 1.2%
ActivIdentity Corp. (a)	30,377		93,257
Adaptec, Inc. (a)	145,519		385,625
Ampex Corp. Class A (a)	1,884		3,485
Avid Technology, Inc. (a)(d)	39,194		955,158
Brocade Communications Systems, Inc. (a)(d)	369,633		2,842,478
Concurrent Computer Corp. (a)	79,110		63,288
CopyTele, Inc. (a)	16,655		16,655
Cray, Inc. (a)	29,711		139,939
Data Domain, Inc.	23,500		499,140
Datalink Corp. (a)	2,058		8,335
Dataram Corp.	3,649		11,969
Diebold, Inc.	63,048		1,520,718
Dot Hill Systems Corp. (a)	30,475		109,101
Electronics for Imaging, Inc. (a)	53,247		801,900
Emulex Corp. (a)	83,779		1,246,632
FOCUS Enhancements, Inc. (a)	7,672		3,000
Hauppauge Digital, Inc. (a)	4,117		17,703
Hutchinson Technology, Inc. (a)	27,474		461,563
Hypercom Corp. (a)	60,574		224,730
Imation Corp.	31,408		708,250
Immersion Corp. (a)	32,589		274,725
InFocus Corp. (a)	16,952		30,344
Innovex, Inc. (a)	4,552		1,457
Intermec, Inc. (a)(d)	45,598		1,004,980
Interphase Corp. (a)	2,203		12,557
Intevac, Inc. (a)	25,932		332,967
Iomega Corp. (a)	46,398		141,514
Isilon Systems, Inc. (a)(d)	26,704		149,809
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Computers & Peripherals - continued
LaserCard Corp. (a)(d)	11,480		$ 106,534
Mobility Electronics, Inc. (a)	18,109		24,628
NCR Corp. (a)	167,811		3,718,692
Novatel Wireless, Inc. (a)	33,008		349,225
Overland Storage, Inc. (a)	6,049		8,106
Palm, Inc. (d)	91,166		589,844
Presstek, Inc. (a)	39,299		184,705
Qualstar Corp.	2,735		9,573
Quantum Corp. (a)	171,906		429,765
Rackable Systems, Inc. (a)(d)	33,538		309,891
Rimage Corp. (a)	10,658		245,347
Seagate Technology	509,143		10,982,215
Silicon Graphics, Inc. (a)(d)	8,036		126,728
Socket Communications, Inc. (a)	8,047		5,874
STEC, Inc. (a)	16,223		118,103
Stratasys, Inc. (a)(d)	23,546		441,723
Super Micro Computer, Inc.	20,000		179,600
Synaptics, Inc. (a)(d)	24,420		654,212
Transact Technologies, Inc. (a)	2,830		13,810
ViewCast.com, Inc. (a)	10,386		2,908
Western Digital Corp. (a)	210,129		6,486,682
Zoom Technologies, Inc. (a)	5,240		2,987
			37,052,431
Electronic Equipment & Instruments - 2.0%
Acacia Research Corp. - Acacia Technologies (a)(d)	28,810		188,129
Advanced Photonix, Inc. Class A (a)(d)	11,134		16,701
Aetrium, Inc. (a)	100		469
Agilysys, Inc.	29,348		371,839
Allied Motion Technologies, Inc. (a)	3,555		17,455
American Technology Corp. (a)	2,713		5,643
Amphenol Corp. Class A	161,134		5,957,124
Anixter International, Inc. (a)(d)	28,729		1,878,589
Arrow Electronics, Inc. (a)	112,523		3,669,375
Avnet, Inc. (a)	133,880		4,513,095
AVX Corp.	47,849		600,026
Axcess, Inc. (a)	6,529		9,075
Bell Industries, Inc. (a)	7,298		5,838
Bell Microproducts, Inc. (a)	21,017		70,407
Benchmark Electronics, Inc. (a)	70,653		1,186,970
Brightpoint, Inc. (a)	43,183		446,512
CalAmp Corp. (a)	25,303		69,077
Checkpoint Systems, Inc. (a)	37,743		913,381
Clearfield, Inc. (a)	3,836		3,798
Cogent, Inc. (a)(d)	46,583		465,830
Cognex Corp.	38,437		742,987
Comverge, Inc.	10,552		148,361
CPI International, Inc. (a)	8,558		89,003
CTS Corp.	33,602		325,939
CyberOptics Corp. (a)	11,204		116,746
Daktronics, Inc. (d)	35,884		620,076
	Shares		Value
Daystar Technologies, Inc. (a)(d)	55,291		$ 178,037
DDi Corp. (a)	20,393		101,353
Dolby Laboratories, Inc. Class A (a)	40,316		1,783,983
DTS, Inc. (a)(d)	18,680		454,484
Echelon Corp. (a)(d)	36,963		415,094
Electro Scientific Industries, Inc. (a)	32,818		531,323
En Pointe Technologies, Inc. (a)	2,994		7,096
Entorian Technologies, Inc. (a)	7,258		10,234
Excel Technology, Inc. (a)	13,164		339,368
FARO Technologies, Inc. (a)	18,076		591,989
FLIR Systems, Inc. (a)	123,834		3,524,316
Frequency Electronics, Inc.	1,170		10,050
Gerber Scientific, Inc. (a)	34,143		297,044
Giga-Tronics, Inc. (a)	4,585		6,786
GTSI Corp. (a)	3,743		30,767
I. D. Systems Inc. (a)(d)	11,645		83,145
Ingram Micro, Inc. Class A (a)	138,467		2,114,391
InPlay Technologies, Inc. (a)	4,023		4,063
Insight Enterprises, Inc. (a)	52,859		926,618
Intelli-Check, Inc. (a)	1,429		4,430
IPG Photonics Corp. (a)	19,950		340,547
Iteris, Inc. (a)	4,304		11,621
Itron, Inc. (a)(d)	28,748		2,740,547
Jaco Electronics, Inc. (a)	3,836		4,526
Keithley Instruments, Inc.	19,213		173,878
KEMET Corp. (a)(d)	91,290		452,798
L-1 Identity Solutions, Inc. (a)(d)	71,393		853,860
LeCroy Corp. (a)	12,897		101,757
LightPath Technologies, Inc. Class A (a)	1,150		2,151
Littelfuse, Inc. (a)	20,342		634,060
LoJack Corp. (a)	17,896		223,342
Lumera Corp. (a)(d)	13,075		31,119
Maxwell Technologies, Inc. (a)(d)	22,337		232,528
MDI, Inc. (a)	7,859		4,323
Measurement Specialties, Inc. (a)	15,913		282,137
Mechanical Technology, Inc. (a)	9,637		6,842
Mercury Computer Systems, Inc. (a)	28,979		185,755
Merix Corp. (a)	15,740		42,813
Mesa Laboratories, Inc.	4,207		100,968
Methode Electronics, Inc. Class A	31,984		340,630
Mettler-Toledo International, Inc. (a)	33,171		3,240,807
Micronetics, Inc. (a)	3,743		30,655
MTS Systems Corp.	18,579		579,479
Multi-Fineline Electronix, Inc. (a)	6,965		148,146
Napco Security Systems, Inc. (a)(d)	17,472		96,096
National Instruments Corp.	54,468		1,408,542
NetList, Inc. (a)	15,000		20,850
Newport Corp. (a)	32,507		341,649
NU Horizons Electronics Corp. (a)	14,521		86,255
OSI Systems, Inc. (a)	13,701		289,776
Par Technology Corp. (a)	6,450		50,891
Park Electrochemical Corp.	16,110		379,391
PC Connection, Inc. (a)	13,930		138,325
Perceptron, Inc. (a)	2,600		30,680
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Electronic Equipment & Instruments - continued
Photon Dynamics, Inc. (a)	24,728		$ 255,935
Planar Systems, Inc. (a)	18,106		84,374
Plexus Corp. (a)	45,355		1,123,443
RadiSys Corp. (a)	24,357		231,635
RAE Systems, Inc. (a)	46,052		105,920
Research Frontiers, Inc. (a)(d)	22,011		166,183
RF Industries Ltd.	2,339		12,701
RF Monolithics, Inc. (a)	3,462		18,383
Richardson Electronics Ltd.	33,307		143,886
Rofin-Sinar Technologies, Inc. (a)	28,810		1,134,250
Rogers Corp. (a)	18,502		586,143
Sanmina-SCI Corp. (a)	555,153		916,002
ScanSource, Inc. (a)	23,128		785,658
Sielox, Inc. (a)	5,600		1,512
Sigmatron International, Inc. (a)	762		5,502
SMART Modular Technologies (WWH), Inc. (a)	33,557		222,818
Spectrum Control, Inc. (a)	14,200		127,942
StockerYale, Inc. (a)	2,400		1,536
SYNNEX Corp. (a)	18,111		376,890
Tech Data Corp. (a)	62,236		2,075,571
Technitrol, Inc.	41,833		920,744
Tessco Technologies, Inc. (a)	4,000		65,160
Trimble Navigation Ltd. (a)	114,481		3,129,911
TTM Technologies, Inc. (a)	43,404		478,312
Universal Display Corp. (a)(d)	34,146		581,848
Vicon Industries, Inc. (a)	18,575		101,234
Vishay Intertechnology, Inc. (a)	158,088		1,443,343
X-Rite, Inc. (a)	41,424		339,263
Zones, Inc. (a)	3,275		30,392
Zygo Corp. (a)	17,642		224,759
			63,146,010
Internet Software & Services - 0.9%
Access Integrated Technologies, Inc. Class A (a)(d)	30,643		72,317
Answers Corp. (a)(d)	6,496		39,756
Ariba, Inc. (a)(d)	77,945		695,269
Art Technology Group, Inc. (a)	135,173		456,885
Autobytel, Inc. (a)	47,104		127,181
Bankrate, Inc. (a)(d)	12,873		544,013
Bidz.com, Inc. (a)(d)	8,406		85,909
Chordiant Software, Inc. (a)	23,568		135,752
CMGI, Inc. (a)	42,760		491,312
CNET Networks, Inc. (a)(d)	140,966		1,023,413
Communication Intelligence Corp. (a)	7,900		1,462
comScore, Inc.	5,331		109,925
Constant Contact, Inc. (d)	9,084		161,695
DealerTrack Holdings, Inc. (a)	37,442		766,438
deltathree, Inc. (a)	4,398		1,803
Dice Holdings, Inc.	11,816		85,902
Digital River, Inc. (a)	38,827		1,266,925
	Shares		Value
DivX, Inc. (a)(d)	22,515		$ 221,322
EarthLink, Inc. (a)	111,671		807,381
EasyLink Services International Corp. (a)	3,400		9,588
EDGAR Online, Inc. (a)	3,836		10,300
Entrust, Inc. (a)	55,731		139,885
Equinix, Inc. (a)(d)	30,864		2,140,418
Goldleaf Financial Solutions, Inc. (a)	12,407		33,003
Greenfield Online, Inc. (a)	24,215		327,629
I-Many, Inc. (a)	9,263		25,751
iBasis, Inc.	25,502		103,538
iMergent, Inc. (d)	8,356		91,916
InfoSpace, Inc.	29,787		303,530
Innodata Isogen, Inc. (a)	7,485		41,168
InsWeb Corp. (a)	283		3,155
Internap Network Services Corp. (a)(d)	52,295		366,065
Internet America, Inc. (a)	6,082		4,379
Internet Capital Group, Inc. (a)	40,804		354,995
Interwoven, Inc. (a)	36,638		496,445
iPass, Inc. (a)	58,644		163,030
j2 Global Communications, Inc. (a)(d)	49,083		1,056,266
Jupiter Media Metrix, Inc. (a)	14,700		0
Jupitermedia Corp. (a)(d)	31,939		105,079
Keynote Systems, Inc. (a)(d)	23,393		253,580
Kintera, Inc. (a)	6,752		6,347
Limelight Networks, Inc. (d)	37,810		176,951
Liquidity Services, Inc. (a)	19,229		185,944
LivePerson, Inc. (a)	43,962		149,910
LoopNet, Inc. (a)(d)	30,820		368,915
Marchex, Inc. Class B (d)	28,914		255,311
MIVA, Inc. (a)	33,689		70,747
Move, Inc. (a)	151,118		379,306
NaviSite, Inc. (a)	8,077		32,793
NIC, Inc.	50,395		303,378
Omniture, Inc. (a)(d)	47,694		1,096,008
On2.Com, Inc. (a)(d)	162,348		173,712
Online Resources Corp. (a)	30,274		310,006
Onstream Media Corp. (a)	1,100		858
Onvia.com, Inc. (a)	1,133		8,554
Openwave Systems, Inc.	93,277		192,151
Optio Software, Inc. (a)	3,200		4,000
Perficient, Inc. (a)	33,787		285,500
PlanetOut, Inc. (a)	1,261		4,767
RealNetworks, Inc. (a)	101,380		593,073
S1 Corp. (a)	55,793		395,014
Saba Software, Inc. (a)	24,380		83,136
SAVVIS, Inc. (a)(d)	25,609		497,583
Selectica, Inc. (a)	7,017		10,315
SonicWALL, Inc. (a)	65,928		549,180
Supportsoft, Inc. (a)	35,140		123,341
Switch & Data Facilities Co., Inc.	22,752		237,758
TechTarget, Inc.	6,000		69,720
Terremark Worldwide, Inc. (a)	39,407		197,035
The Knot, Inc. (a)(d)	25,433		293,751
The Sedona Corp. (a)	8,300		1,004
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Internet Software & Services - continued
TheStreet.com, Inc.	23,106		$ 209,340
Think Partnership, Inc. (a)	31,103		31,725
Travelzoo, Inc. (a)	7,829		79,073
Tumbleweed Communications Corp. (a)	69,582		89,065
United Online, Inc.	60,721		605,996
US Dataworks, Inc. (a)	4,512		654
ValueClick, Inc. (a)	91,965		1,775,844
Vignette Corp. (a)	26,195		331,367
VistaPrint Ltd. (a)(d)	40,002		1,256,863
Vocus, Inc. (a)	16,061		394,458
WebMD Health Corp. Class A (a)(d)	9,120		254,083
Websense, Inc. (a)	43,751		851,832
Website Pros, Inc. (a)	31,630		349,195
Zix Corp. (a)(d)	83,740		328,261
			26,738,204
IT Services - 2.6%
Accenture Ltd. Class A	546,360		19,259,190
Acxiom Corp.	63,294		804,467
Alliance Data Systems Corp. (a)(d)	72,086		3,649,714
Analysts International Corp. (a)	9,684		12,977
Applied Digital Solutions, Inc. (a)	52,828		43,847
BearingPoint, Inc. (a)	199,355		322,955
Broadridge Financial Solutions, Inc.	131,439		2,517,057
CACI International, Inc. Class A (a)	27,719		1,210,212
Cass Information Systems, Inc.	4,950		138,600
Ciber, Inc. (a)	62,222		286,221
Computer Task Group, Inc. (a)	11,529		48,537
CSG Systems International, Inc. (a)	42,838		486,211
CSP, Inc. (a)	3,555		21,614
CyberSource Corp. (a)	63,856		932,936
DST Systems, Inc. (a)(d)	44,937		3,157,274
Edgewater Technology, Inc. (a)	4,972		29,832
Electronic Clearing House, Inc. (a)	10,439		177,254
eLoyalty Corp. (a)	4,735		48,534
Enherent Corp. (a)	8,200		631
ePresence, Inc. (a)	5,520		0
Euronet Worldwide, Inc. (a)(d)	43,979		949,946
ExlService Holdings, Inc. (a)	14,112		301,009
Forrester Research, Inc. (a)	15,786		420,539
Gartner, Inc. Class A (a)	67,013		1,267,216
Genpact Ltd.	54,500		831,125
Gevity HR, Inc.	18,970		132,411
Global Cash Access Holdings, Inc. (a)	43,141		227,353
Global Payments, Inc.	75,227		2,984,255
Hackett Group, Inc. (a)	44,735		181,177
Heartland Payment Systems, Inc. (d)	23,930		527,178
Hewitt Associates, Inc. Class A (a)	91,960		3,628,742
iGate Corp. (a)	37,687		298,481
infoUSA, Inc.	35,867		272,948
Integral Systems, Inc.	13,573		330,367
INX, Inc. (a)	7,038		56,304
	Shares		Value
Iron Mountain, Inc. (a)	175,116		$ 5,267,489
Lionbridge Technologies, Inc. (a)	47,040		166,992
ManTech International Corp. Class A (a)	16,498		727,232
MasterCard, Inc. Class A (d)	67,802		12,882,380
Maximus, Inc.	21,263		772,272
Metavante Holding Co. (a)	104,900		2,273,183
MoneyGram International, Inc.	85,260		312,052
MPS Group, Inc. (a)	95,492		1,088,609
MTM Technologies, Inc. (a)	1,200		540
NCI, Inc. Class A (a)	6,000		106,320
NeuStar, Inc. Class A (a)	70,532		1,809,851
New Century Equity Holdings Corp. (a)	5,500		880
Newtek Business Services, Inc. (a)	5,503		5,943
Perot Systems Corp. Class A (a)	85,425		1,178,011
PFSweb, Inc. (a)	13,371		13,104
Rainmaker Systems, Inc. (a)	15,480		44,428
RightNow Technologies, Inc. (a)	25,654		293,225
Safeguard Scientifics, Inc. (a)	102,664		158,103
SAIC, Inc. (a)	106,205		2,024,267
Sapient Corp. (a)	82,546		609,189
SI International, Inc. (a)	17,883		444,929
SM&A (a)	4,117		25,484
SRA International, Inc. Class A (a)	38,343		920,232
StarTek, Inc. (a)	4,563		39,287
Storage Engine, Inc. (a)	500		0
Sykes Enterprises, Inc. (a)	35,265		592,099
Syntel, Inc.	13,822		376,373
Technology Solutions Co. (a)	479		1,250
TechTeam Global, Inc. (a)	6,114		53,498
The Management Network Group, Inc. (a)	14,649		31,349
TNS, Inc.	28,549		509,600
TSR, Inc.	4,079		17,132
VeriFone Holdings, Inc. (a)(d)	61,134		1,262,417
WidePoint Corp. (a)	5,600		7,000
WPCS International, Inc. (a)	8,000		51,840
Wright Express Corp. (a)	36,836		1,066,034
Zanett, Inc. (a)	5,579		3,236
			80,692,944
Office Electronics - 0.1%
Zebra Technologies Corp. Class A (a)	67,734		2,256,897
Semiconductors & Semiconductor Equipment - 2.2%
8X8, Inc. (a)(d)	9,978		10,477
Actel Corp. (a)	31,263		370,467
Advanced Analogic Technologies, Inc. (a)	48,433		314,815
Advanced Energy Industries, Inc. (a)	32,839		420,996
AMIS Holdings, Inc. (a)	62,731		427,825
Amkor Technology, Inc. (a)	91,404		1,070,341
Amtech Systems, Inc. (a)	4,491		56,003
ANADIGICS, Inc. (a)(d)	56,555		398,147
Applied Micro Circuits Corp. (a)	60,922		452,650
Asyst Technologies, Inc. (a)	35,628		125,411
Atheros Communications, Inc. (a)	52,610		1,279,475
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Atmel Corp. (a)	407,468		$ 1,324,271
ATMI, Inc. (a)	31,888		871,818
AuthenTec, Inc.	20,883		211,962
Axcelis Technologies, Inc. (a)	97,665		561,574
AXT, Inc. (a)	32,208		177,788
Brooks Automation, Inc. (a)	68,568		691,165
Cabot Microelectronics Corp. (a)(d)	20,422		683,933
California Micro Devices Corp. (a)	27,193		87,018
Catalyst Semiconductor, Inc. (a)	7,298		29,265
Cavium Networks, Inc. (d)	19,042		270,777
Centillium Communications, Inc. (a)	84,859		60,250
Ceva, Inc. (a)	31,474		268,473
Cirrus Logic, Inc. (a)	75,191		386,482
Cohu, Inc.	26,971		421,826
Conexant Systems, Inc. (a)	419,658		222,419
Credence Systems Corp. (a)	83,523		118,603
Cree, Inc. (a)(d)	77,116		2,382,884
Cymer, Inc. (a)	33,055		936,448
Cypress Semiconductor Corp. (a)	143,981		3,130,147
Diodes, Inc. (a)	27,235		614,694
DSP Group, Inc. (a)	40,671		471,784
Eagle Test Systems, Inc. (a)	15,535		162,651
Electroglas, Inc. (a)	6,456		11,104
EMCORE Corp. (a)(d)	39,850		440,343
Entegris, Inc. (a)	116,636		822,284
ESS Technology, Inc. (a)	12,644		19,219
Exar Corp. (a)	42,807		336,463
Fairchild Semiconductor International, Inc. (a)	106,176		1,183,862
FEI Co. (a)(d)	36,981		754,043
FormFactor, Inc. (a)	45,673		818,917
FSI International, Inc. (a)	31,373		51,138
Hi/fn, Inc. (a)	3,346		18,370
Hittite Microwave Corp. (a)	13,967		462,447
Ibis Technology Corp. (a)	5,001		1,900
Ikanos Communications, Inc. (a)	35,716		162,865
Integrated Device Technology, Inc. (a)	177,700		1,490,903
Integrated Silicon Solution, Inc. (a)	27,319		163,094
International Rectifier Corp. (a)	67,225		1,530,713
Intersil Corp. Class A	123,570		2,875,474
IXYS Corp. (a)	22,486		158,526
Kopin Corp. (a)	52,672		143,268
Kulicke & Soffa Industries, Inc. (a)(d)	55,666		286,680
Lam Research Corp. (a)	121,501		4,889,200
Lattice Semiconductor Corp. (a)	122,787		316,790
Leadis Technology, Inc. (a)	36,160		71,597
Logic Devices, Inc. (a)	8,982		9,701
LogicVision, Inc. (a)	5,047		3,578
LTX Corp. (a)	55,917		181,730
Marvell Technology Group Ltd. (a)	433,755		4,905,769
	Shares		Value
Mattson Technology, Inc. (a)	59,441		$ 353,080
Micrel, Inc.	45,500		334,425
Micro Component Technology, Inc. (a)	6,643		698
Microsemi Corp. (a)	66,047		1,436,522
Microtune, Inc. (a)	62,874		316,885
Mindspeed Technologies, Inc. (a)	73,473		42,614
MIPS Technologies, Inc. (a)	61,059		226,529
MKS Instruments, Inc. (a)	48,188		968,097
Monolithic Power Systems, Inc. (a)	21,668		360,556
MoSys, Inc. (a)(d)	21,647		101,741
Nanometrics, Inc. (a)	3,555		22,645
NeoMagic Corp. (a)	2,507		3,309
Netlogic Microsystems, Inc. (a)(d)	19,098		450,713
NVE Corp. (a)(d)	3,977		101,414
Omnivision Technologies, Inc. (a)(d)	50,503		800,978
ON Semiconductor Corp. (a)(d)	286,096		1,716,576
PDF Solutions, Inc. (a)	29,912		170,498
Pericom Semiconductor Corp. (a)	29,067		387,463
Photronics, Inc. (a)	45,499		458,175
Pixelworks, Inc. (a)	25,246		19,187
PLX Technology, Inc. (a)	37,123		239,815
PMC-Sierra, Inc. (a)(d)	210,600		1,008,774
QuickLogic Corp. (a)	5,545		16,580
Rambus, Inc. (a)(d)	93,839		1,691,917
Ramtron International Corp. (a)	4,828		18,926
RF Micro Devices, Inc. (a)(d)	250,018		787,557
Rudolph Technologies, Inc. (a)	23,492		204,615
Semitool, Inc. (a)(d)	27,663		217,431
Semtech Corp. (a)	73,322		934,122
Sigma Designs, Inc. (a)(d)	25,616		754,391
SigmaTel, Inc. (a)	51,235		149,094
Silicon Image, Inc. (a)	82,230		376,613
Silicon Laboratories, Inc. (a)(d)	49,225		1,523,514
Silicon Storage Technology, Inc. (a)	69,338		196,227
SiRF Technology Holdings, Inc. (a)(d)	49,424		319,773
Skyworks Solutions, Inc. (a)	158,592		1,309,970
Spansion, Inc. Class A (a)	73,689		202,645
SRS Labs, Inc. (a)	19,110		84,084
Standard Microsystems Corp. (a)	20,796		589,567
Supertex, Inc. (a)(d)	11,908		246,496
Techwell, Inc. (a)	25,794		257,424
Tegal Corp. (a)	888		4,777
Tessera Technologies, Inc. (a)	45,972		1,083,100
Transwitch Corp. (a)	129,236		84,003
Trident Microsystems, Inc. (a)	51,930		259,131
TriQuint Semiconductor, Inc. (a)	136,950		646,404
Ultra Clean Holdings, Inc. (a)	19,832		190,387
Ultratech, Inc. (a)(d)	26,400		254,232
Varian Semiconductor Equipment Associates, Inc. (a)	82,465		2,785,668
Veeco Instruments, Inc. (a)(d)	26,553		411,572
Virage Logic Corp. (a)	6,362		40,844
Volterra Semiconductor Corp. (a)	28,282		244,639
White Electronic Designs Corp. (a)	5,571		23,342
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Zilog, Inc. (a)	8,368		$ 27,949
Zoran Corp. (a)	46,018		631,827
			67,212,332
Software - 3.0%
ACI Worldwide, Inc. (d)	31,639		558,745
Activision, Inc. (a)	277,161		7,552,637
Actuate Corp. (a)	69,217		332,242
Adept Technology, Inc. (a)	1,291		11,774
Advent Software, Inc. (a)(d)	17,829		801,235
American Software, Inc. Class A	22,733		193,231
Ansoft Corp. (a)	13,234		321,851
Ansys, Inc. (a)	74,779		2,794,491
ARI Network Services, Inc. (a)	2,620		4,664
Aspen Technology, Inc. (a)	58,790		658,448
Atari, Inc. (a)	4,056		6,652
Authentidate Holding Corp. (a)	8,307		5,898
Avatech Solutions, Inc. (a)	735		647
AXS-One, Inc. (a)	5,614		2,470
BEA Systems, Inc. (a)	374,796		7,147,360
Bitstream, Inc. Class A (a)	3,682		19,515
Blackbaud, Inc.	42,636		1,114,505
Blackboard, Inc. (a)	24,263		698,047
Borland Software Corp. (a)	89,834		175,176
Bottomline Technologies, Inc. (a)	31,276		401,584
BSQUARE Corp. (a)	2,830		12,226
Cadence Design Systems, Inc. (a)	253,566		2,692,871
Callidus Software, Inc. (a)	15,599		76,591
CAM Commerce Solutions, Inc.	1,965		74,041
Captaris, Inc. (a)	19,666		68,241
Catapult Communications Corp. (a)	20,366		127,084
CommVault Systems, Inc. (a)	33,219		465,066
Concur Technologies, Inc. (a)	41,040		1,200,010
Convera Corp. Class A (a)(d)	32,212		61,203
DATATRAK International, Inc. (a)	9,664		17,299
Datawatch Corp. (a)	3,120		10,764
Deltek, Inc.	8,835		113,530
DemandTec, Inc.	6,000		60,900
Digimarc Corp. (a)	26,885		241,158
Double-Take Software, Inc. (a)	16,543		171,882
Dynamics Research Corp. (a)	2,901		28,024
ebix.com, Inc. (a)	421		31,996
Epicor Software Corp. (a)	46,370		513,316
EPIQ Systems, Inc. (a)	39,988		543,837
eSpeed, Inc. Class A (a)	34,859		404,713
Evans & Sutherland Computer Corp. (a)	4,929		4,978
Evolving Systems, Inc. (a)	3,885		9,052
FactSet Research Systems, Inc.	42,164		2,219,513
Fair Isaac Corp.	53,352		1,237,766
FalconStor Software, Inc. (a)(d)	35,338		294,012
Glu Mobile, Inc. (d)	12,704		59,963
GSE Systems, Inc. (a)	1,893		19,498
	Shares		Value
Guardian Technologies International (a)	560		$ 364
i2 Technologies, Inc. (a)(d)	19,061		247,793
Informatica Corp. (a)	84,775		1,480,172
Interactive Intelligence, Inc. (a)	11,678		166,528
Intervoice, Inc. (a)	50,024		353,670
Jack Henry & Associates, Inc.	80,863		1,902,706
JDA Software Group, Inc. (a)	31,778		542,450
Lawson Software, Inc. (a)(d)	138,784		1,082,515
Logility, Inc. (a)	7,206		78,690
Macrovision Corp. (a)(d)	53,821		822,923
Magma Design Automation, Inc. (a)	41,993		412,371
Majesco Entertainment Co. (a)	18,551		22,261
Manhattan Associates, Inc. (a)	26,126		576,340
McAfee, Inc. (a)	146,194		4,863,874
Mentor Graphics Corp. (a)	82,538		751,096
MICROS Systems, Inc. (a)(d)	76,864		2,462,723
MicroStrategy, Inc. Class A (a)	8,650		575,398
Midway Games, Inc. (a)(d)	19,693		39,386
Moldflow Corp. (a)	13,430		223,744
Monotype Imaging Holdings, Inc.	14,361		195,740
MSC.Software Corp. (a)	49,187		623,199
Napster, Inc. (a)	25,066		46,121
NAVTEQ Corp. (a)	92,025		6,897,274
NetManage, Inc. (a)	1,259		5,980
NetScout Systems, Inc. (a)	30,257		281,088
NetSol Technologies, Inc. (a)	880		1,742
Nuance Communications, Inc. (a)	144,521		2,377,370
OpenTV Corp. Class A (a)	89,696		120,193
Opnet Technologies, Inc. (a)	18,393		146,408
Parametric Technology Corp. (a)	102,338		1,566,795
Peerless Systems Corp. (a)	6,456		12,912
Pegasystems, Inc.	16,702		156,999
Pervasive Software, Inc. (a)	3,743		14,336
Phoenix Technologies Ltd. (a)	29,298		483,710
Plato Learning, Inc. (a)	26,002		98,808
Progress Software Corp. (a)	38,049		1,085,918
PROS Holdings, Inc.	20,929		270,612
QAD, Inc.	13,833		120,900
Quality Systems, Inc.	15,811		515,122
Quest Software, Inc. (a)	55,137		784,600
Radiant Systems, Inc. (a)	26,420		377,278
Red Hat, Inc. (a)	180,887		3,225,215
Renaissance Learning, Inc.	1,747		22,991
Salary.com, Inc.	11,000		80,190
Salesforce.com, Inc. (a)	94,126		5,621,205
Scientific Learning Corp. (a)	3,264		16,353
Secure Computing Corp. (a)(d)	54,971		446,365
Simulations Plus, Inc. (a)	24,000		65,280
Smith Micro Software, Inc. (a)(d)	23,714		121,416
Solera Holdings, Inc.	56,176		1,333,056
Sona Mobile Holdings Corp. (a)	2,400		864
Sonic Foundry, Inc. (a)	10,711		8,033
Sonic Solutions, Inc. (a)(d)	36,717		331,555
Sourcefire, Inc. (d)	11,817		70,902
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - continued
SourceForge, Inc. (a)	41,920		$ 72,102
SPSS, Inc. (a)	19,956		758,927
StorageNetworks, Inc. (a)	29,377		0
SumTotal Systems, Inc. (a)	15,011		68,150
Sybase, Inc. (a)	81,056		2,157,711
Synchronoss Technologies, Inc. (a)(d)	17,924		288,218
Synopsys, Inc. (a)	139,224		3,231,389
Synplicity, Inc. (a)	6,924		38,428
Take-Two Interactive Software, Inc. (a)(d)	72,878		1,931,267
Taleo Corp. Class A (a)	18,000		343,080
TeleCommunication Systems, Inc. Class A (a)	34,846		108,023
THQ, Inc. (a)	64,420		1,205,298
TIBCO Software, Inc. (a)	179,146		1,262,979
Tyler Technologies, Inc. (a)	40,070		554,970
Ultimate Software Group, Inc. (a)	23,707		646,253
Unica Corp. (a)	7,764		58,463
Vasco Data Security International, Inc. (a)	26,503		293,123
Versant Corp. (a)	5,415		156,439
Vertical Communications, Inc. (a)	1,066		531
VirnetX Holding Corp. (a)	1,100		5,500
VMware, Inc. Class A (d)	35,298		2,070,934
Voxware, Inc. (a)	43		204
Wave Systems Corp. Class A (a)(d)	4,905		6,327
Wind River Systems, Inc. (a)	75,126		543,161
			93,493,717
TOTAL INFORMATION TECHNOLOGY			411,331,331
MATERIALS - 5.8%
Chemicals - 2.7%
A. Schulman, Inc.	23,241		475,046
ADA-ES, Inc. (a)	6,212		66,468
Airgas, Inc.	67,076		3,259,223
Albemarle Corp.	71,408		2,709,220
Altair Nanotechnologies, Inc. (a)(d)	91,411		272,405
American Pacific Corp. (a)	6,762		108,936
American Vanguard Corp.	24,106		364,242
Arch Chemicals, Inc.	23,394		816,685
Balchem Corp.	14,994		300,480
Cabot Corp.	57,159		1,566,157
Calgon Carbon Corp. (a)(d)	37,486		612,521
Celanese Corp. Class A	145,135		5,645,752
CF Industries Holdings, Inc.	47,210		5,763,397
Chemtura Corp.	238,446		1,969,564
Cytec Industries, Inc.	38,195		2,187,810
Eden Bioscience Corp. (a)	1,247		1,746
Ferro Corp.	39,890		642,229
Flotek Industries, Inc. (a)	14,368		326,585
FMC Corp.	68,258		3,864,085
GenTek, Inc. (a)(d)	9,509		261,498
	Shares		Value
Georgia Gulf Corp. (d)	33,843		$ 205,089
H.B. Fuller Co.	59,759		1,359,517
Hawkins, Inc.	5,284		77,992
Huntsman Corp.	87,846		2,119,724
ICO, Inc. (a)	24,602		191,650
Innophos Holdings, Inc.	9,200		121,624
KMG Chemicals, Inc.	10,001		162,616
Koppers Holdings, Inc.	17,451		728,928
Kronos Worldwide, Inc.	4,133		76,461
Landec Corp. (a)	24,673		231,433
LSB Industries, Inc. (a)	12,393		295,573
Lubrizol Corp.	66,509		3,877,475
Material Sciences Corp. (a)	8,000		59,040
Minerals Technologies, Inc.	17,357		1,046,280
Nalco Holding Co.	135,040		2,916,864
Nanophase Technologies Corp. (a)	5,146		16,416
NewMarket Corp.	15,561		1,041,809
NL Industries, Inc.	2,181		23,686
Olin Corp.	60,986		1,172,151
OM Group, Inc. (a)	27,934		1,690,845
OMNOVA Solutions, Inc. (a)	52,546		204,929
Penford Corp.	12,815		280,520
PolyOne Corp. (a)	87,616		569,504
Quaker Chemical Corp.	13,460		316,310
Rockwood Holdings, Inc. (a)	33,382		1,024,494
RPM International, Inc.	115,599		2,417,175
Sensient Technologies Corp.	43,136		1,162,084
Spartech Corp.	31,204		442,161
Stepan Co.	11,390		388,399
Symyx Technologies, Inc. (a)	49,606		324,919
Terra Industries, Inc. (a)(d)	89,863		4,062,706
Terra Nitrogen Co. LP	7,339		1,015,718
The Mosaic Co. (a)	140,034		15,585,784
The Scotts Miracle-Gro Co. Class A	38,243		1,361,068
Tronox, Inc. Class A	51,657		230,907
Valhi, Inc. (d)	8,061		155,819
Valspar Corp.	90,145		1,955,245
W.R. Grace & Co. (a)(d)	55,491		1,178,074
Westlake Chemical Corp.	17,796		287,227
Xethanol Corp. (a)	28,810		14,405
Zep, Inc.	19,676		308,913
Zoltek Companies, Inc. (a)(d)	24,125		551,980
			82,467,563
Construction Materials - 0.2%
Eagle Materials, Inc.	42,785		1,521,435
Headwaters, Inc. (a)(d)	38,571		472,880
Martin Marietta Materials, Inc. (d)	39,365		4,235,674
Texas Industries, Inc.	26,256		1,512,346
U.S. Concrete, Inc. (a)	45,634		182,080
			7,924,415
Containers & Packaging - 0.9%
AEP Industries, Inc. (a)	9,338		283,782
Aptargroup, Inc.	59,478		2,229,235
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Containers & Packaging - continued
Caraustar Industries, Inc. (a)	16,241		$ 35,730
Chesapeake Corp.	28,017		98,060
Constar International, Inc. (a)	2,862		8,300
Crown Holdings, Inc. (a)	156,055		3,887,330
Graphic Packaging Corp. (a)	111,482		343,365
Greif, Inc. Class A	27,460		1,795,609
MOD-PAC Corp. (sub. vtg.) (a)	1,684		9,750
Myers Industries, Inc.	23,494		285,922
Owens-Illinois, Inc. (a)	139,454		7,872,178
Packaging Corp. of America	82,500		1,880,175
Rock-Tenn Co. Class A	30,848		827,652
Silgan Holdings, Inc.	30,272		1,414,913
Smurfit-Stone Container Corp. (a)	231,830		1,843,049
Sonoco Products Co.	89,177		2,512,116
Temple-Inland, Inc.	92,000		1,263,160
			26,590,326
Metals & Mining - 1.8%
A.M. Castle & Co.	17,194		382,223
AK Steel Holding Corp.	105,387		5,545,464
Allied Nevada Gold Corp. (a)	26,145		156,870
Amcol International Corp.	24,747		713,209
Brush Engineered Materials, Inc. (a)	19,197		533,293
Canyon Resources Corp. (a)	8,249		3,712
Carpenter Technology Corp.	48,440		3,043,485
Century Aluminum Co. (a)	30,547		2,020,073
Cleveland-Cliffs, Inc.	38,804		4,635,526
Coeur d'Alene Mines Corp. (a)(d)	542,464		2,614,676
Commercial Metals Co.	109,363		3,331,197
Compass Minerals International, Inc.	31,655		1,801,803
Esmark, Inc. (a)(d)	14,161		164,268
Friedman Industries	7,344		37,748
General Moly, Inc. (a)(d)	47,808		511,068
Haynes International, Inc. (a)	9,806		557,079
Hecla Mining Co. (a)(d)	111,658		1,284,067
Kaiser Aluminum Corp.	14,187		1,040,616
Metal Management, Inc.	25,535		1,549,208
Metalline Mining Co. (a)(d)	25,343		61,330
Mines Management, Inc. (a)	11,916		50,047
NN, Inc.	18,519		180,375
Olympic Steel, Inc.	10,769		444,760
Quanex Corp.	34,776		1,789,225
Reliance Steel & Aluminum Co.	61,180		3,393,043
Rock of Ages Corp. Class A (a)	600		2,922
Royal Gold, Inc. (d)	26,513		835,425
RTI International Metals, Inc. (a)	20,595		1,130,048
Schnitzer Steel Industries, Inc. Class A	19,896		1,302,591
Southern Copper Corp. (d)	69,986		7,986,102
Steel Dynamics, Inc.	91,372		5,323,333
Stillwater Mining Co. (a)(d)	43,478		892,603
Synalloy Corp.	7,000		91,280
	Shares		Value
Universal Stainless & Alloy Products, Inc. (a)	10,258		$ 311,741
US Energy Corp.	20,737		81,496
US Gold Corp. (a)	55,552		194,988
Vista Gold Corp. (a)(d)	32,930		178,810
Worthington Industries, Inc.	62,936		1,107,044
			55,282,748
Paper & Forest Products - 0.2%
AbitibiBowater, Inc. (d)	53,201		550,630
Buckeye Technologies, Inc. (a)	44,825		484,558
Deltic Timber Corp.	13,372		635,705
Domtar Corp. (a)	522,144		3,326,057
Glatfelter	39,313		517,752
Louisiana-Pacific Corp.	92,824		1,009,925
MAXXAM, Inc. (a)	2,331		67,249
Neenah Paper, Inc.	16,227		422,713
Schweitzer-Mauduit International, Inc.	12,705		291,834
Wausau-Mosinee Paper Corp.	49,919		391,365
			7,697,788
TOTAL MATERIALS			179,962,840
TELECOMMUNICATION SERVICES - 1.6%
Diversified Telecommunication Services - 0.5%
Alaska Communication Systems Group, Inc.	53,492		606,064
Allegiance Telecom, Inc. (a)	15,750		0
Arbinet-thexchange, Inc. (a)	25,856		129,280
Atlantic Tele-Network, Inc.	9,462		290,957
Cbeyond, Inc. (a)(d)	19,627		321,687
Cincinnati Bell, Inc. (a)	240,647		933,710
Cogent Communications Group, Inc. (a)(d)	44,941		875,451
Consolidated Communications Holdings, Inc.	22,969		330,983
Covad Communications Group, Inc. (a)	309,064		284,339
D&E Communications, Inc.	15,104		164,483
FairPoint Communications, Inc.	30,797		303,042
Fibernet Telecom Group, Inc. (a)	17,000		142,800
Fonix Corp. (a)	595		0
General Communications, Inc. Class A (a)	51,018		295,394
Global Crossing Ltd. (a)(d)	26,046		502,948
Globalstar, Inc. (a)(d)	16,574		128,117
HickoryTech Corp.	10,207		93,496
Hungarian Telephone & Cable Corp. (a)	3,053		48,879
IDT Corp. Class B (d)	76,678		449,333
Iowa Telecommunication Services, Inc.	30,942		489,812
Level 3 Communications, Inc. (a)(d)	1,449,553		3,232,503
NTELOS Holdings Corp.	29,915		638,087
PAETEC Holding Corp. (a)	69,371		535,544
Pervasip Corp. (a)	14,200		4,402
Premiere Global Services, Inc. (a)	70,557		996,970
Shenandoah Telecommunications Co.	22,182		330,290
Common Stocks - continued
	Shares		Value
TELECOMMUNICATION SERVICES - continued
Diversified Telecommunication Services - continued
SureWest Communications	12,202		$ 153,379
Time Warner Telecom, Inc. Class A (sub. vtg.) (a)	137,779		2,196,197
Vonage Holdings Corp. (a)(d)	38,962		72,080
Warwick Valley Telephone Co.	842		9,405
XETA Technologies, Inc. (a)	3,181		13,392
			14,573,024
Wireless Telecommunication Services - 1.1%
Centennial Communications Corp. Class A (a)	61,293		323,014
Clearwire Corp. (d)	75,301		1,054,967
Crown Castle International Corp. (a)	270,899		9,776,745
FiberTower Corp. (a)	94,661		141,992
GoAmerica, Inc. (a)	118		696
ICO Global Communications Holdings Ltd. Class A (a)	50,000		121,000
IPCS, Inc.	17,803		337,723
Kratos Defense & Security Solutions, Inc. (a)	21,324		38,810
LCC International, Inc. (a)	9,142		14,993
Leap Wireless International, Inc. (a)(d)	48,136		2,058,295
Metro One Telecommunications, Inc. (a)	1,637		1,735
MetroPCS Communications, Inc.	176,877		2,821,188
NII Holdings, Inc. (a)	165,851		6,589,260
Rural Cellular Corp. Class A (a)	15,611		687,352
SBA Communications Corp. Class A (a)	96,057		2,982,570
SkyTerra Communications, Inc. (a)	1,881		13,825
Syniverse Holdings, Inc. (a)	32,836		556,570
Telephone & Data Systems, Inc.	99,482		4,665,706
Terrestar Corp. (a)	53,700		289,443
U.S. Cellular Corp. (a)	14,061		885,843
USA Mobility, Inc.	20,032		210,336
Virgin Mobile USA, Inc. Class A (d)	25,688		130,238
			33,702,301
TOTAL TELECOMMUNICATION SERVICES			48,275,325
UTILITIES - 4.7%
Electric Utilities - 1.2%
Allete, Inc.	26,906		969,692
Central Vermont Public Service Corp. (d)	14,473		346,628
Cleco Corp.	55,234		1,265,411
DPL, Inc.	107,540		2,743,345
El Paso Electric Co. (a)	46,504		951,472
Empire District Electric Co.	26,330		540,028
Enernoc, Inc.	8,321		122,984
Great Plains Energy, Inc.	94,328		2,398,761
Hawaiian Electric Industries, Inc.	79,439		1,784,200
IDACORP, Inc. (d)	40,132		1,195,934
ITC Holdings Corp.	42,647		2,273,085
MGE Energy, Inc.	26,846		847,260
	Shares		Value
Northeast Utilities	140,024		$ 3,552,409
Otter Tail Corp.	26,844		871,088
Portland General Electric Co.	77,814		1,815,401
Reliant Energy, Inc. (a)	325,468		7,420,670
Sierra Pacific Resources	216,797		2,798,849
UIL Holdings Corp.	22,166		651,459
Unisource Energy Corp.	33,612		794,924
Unitil Corp.	2,839		76,085
Westar Energy, Inc.	80,450		1,828,629
			35,248,314
Gas Utilities - 1.3%
AGL Resources, Inc.	79,108		2,743,465
Amerigas Partners LP	26,217		853,363
Atmos Energy Corp.	91,402		2,376,452
Chesapeake Utilities Corp.	11,688		334,978
Delta Natural Gas Co., Inc.	2,782		70,997
Energen Corp.	60,554		3,633,240
EnergySouth, Inc.	12,418		630,338
Equitable Resources, Inc.	108,516		6,686,756
Ferrellgas Partners LP	32,639		747,433
Laclede Group, Inc.	16,640		568,256
National Fuel Gas Co. (d)	64,961		3,056,415
New Jersey Resources Corp.	28,854		1,327,573
Northwest Natural Gas Co.	25,059		1,053,480
ONEOK, Inc.	101,483		4,726,063
Piedmont Natural Gas Co., Inc.	74,178		1,824,779
South Jersey Industries, Inc.	41,186		1,407,326
Southern Union Co.	97,225		2,500,627
Southwest Gas Corp.	39,521		1,011,342
Star Gas Partners LP (a)	57,420		186,041
Suburban Propane Partners LP	31,501		1,293,431
UGI Corp.	89,205		2,284,540
WGL Holdings, Inc.	41,986		1,309,543
			40,626,438
Independent Power Producers & Energy Traders - 0.9%
Black Hills Corp.	38,230		1,367,105
Calpine Corp. (a)(d)	400,000		7,552,000
Environmental Power Corp. (a)	10,176		50,168
Mirant Corp. (a)(d)	239,763		8,871,231
NRG Energy, Inc. (a)(d)	228,429		9,427,265
Ormat Technologies, Inc.	15,447		674,416
Renegy Holdings, Inc. (a)	1,177		6,838
			27,949,023
Multi-Utilities - 1.1%
Alliant Energy Corp.	104,888		3,643,809
Aquila, Inc. (a)	357,989		1,167,044
Avista Corp.	53,083		968,234
CH Energy Group, Inc.	16,216		580,208
Energy East Corp.	136,380		3,634,527
Florida Public Utilities Co.	5,845		69,848
MDU Resources Group, Inc.	161,861		4,250,470
NorthWestern Energy Corp.	38,620		996,010
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Multi-Utilities - continued
NSTAR	91,935		$ 2,840,792
OGE Energy Corp.	91,026		2,955,614
PNM Resources, Inc.	74,765		885,218
Puget Energy, Inc.	112,307		2,998,597
SCANA Corp.	93,604		3,544,783
Vectren Corp.	69,262		1,784,882
Wisconsin Energy Corp.	106,994		4,667,078
			34,987,114
Water Utilities - 0.2%
American States Water Co.	15,979		520,116
Aqua America, Inc. (d)	119,082		2,267,321
Artesian Resources Corp. Class A	3,763		71,045
Cadiz, Inc. (a)(d)	14,433		215,340
California Water Service Group	15,853		596,390
Connecticut Water Service, Inc.	5,523		132,828
Middlesex Water Co.	9,279		174,909
Pure Cycle Corp. (a)	23,077		152,770
SJW Corp. (d)	11,852		358,167
Southwest Water Co.	32,857		360,441
York Water Co.	12,649		194,795
			5,044,122
TOTAL UTILITIES			143,855,011
TOTAL COMMON STOCKS (Cost $2,869,998,604)		2,980,819,934
U.S. Treasury Obligations - 0.3%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 3.1% to 3.21% 3/27/08 (e) (Cost $9,976,296)	$ 10,000,000		9,986,400
Money Market Funds - 18.7%
	Shares
Fidelity Cash Central Fund, 3.24% (b)	89,885,830		89,885,830
Fidelity Securities Lending Cash Central Fund, 3.25% (b)(c)	487,789,184		487,789,184
TOTAL MONEY MARKET FUNDS (Cost $577,675,014)		577,675,014

TOTAL INVESTMENT PORTFOLIO - 115.6% (Cost $3,457,649,914) 3,568,481,348

NET OTHER ASSETS - (15.6)%		(481,100,779)
NET ASSETS - 100%	$ 3,087,380,569

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
793 Mini-Russell 2000 Index Contracts	March 2008	$ 54,463,240	$ (2,710,349)
32 S&P 500 E-Mini Index Contracts	March 2008	2,130,080	(14,509)
42 S&P 500 Index Contracts	March 2008	13,978,650	(699,457)
401 S&P MidCap 400 E-Mini Index Contracts	March 008	31,654,940	(942,385)
TOTAL EQUITY INDEX CONTRACTS		$ 102,226,910	$ (4,366,700)

The face value of futures purchased as a percentage of net assets - 3.3%

Swap Agreements
	Expiration Date	Notional Amount	Value
Equity Total Return Swaps
Receive monthly a return equal to Plains All American Pipeline LP and pay monthly a floating rate based on 1-month Libor plus 25 basis points with JPMorgan Chase, Inc.	Oct. 2008	$ 5,188,713	$ (579,744)

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $5,712,221.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 5,503,585
Fidelity Securities Lending Cash Central Fund	5,681,107
Total	$ 11,184,692

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Extended Market Index Fund

Financial Statements

Statement of Assets and Liabilities

	February 29, 2008
Assets
Investment in securities, at value (including securities loaned of $460,847,055) - See accompanying schedule: Unaffiliated issuers (cost $2,879,974,900)	$ 2,990,806,334
Fidelity Central Funds (cost $577,675,014)	577,675,014
Total Investments (cost $3,457,649,914)		$ 3,568,481,348
Cash		1,515,169
Receivable for investments sold		4,049,243
Receivable for fund shares sold		4,748,457
Dividends receivable		2,035,120
Distributions receivable from Fidelity Central Funds		845,198
Other receivables		1,310
Total assets		3,581,675,845
Liabilities
Payable for investments purchased	$ 974,658
Payable for fund shares redeemed	2,190,018
Swap agreements, at value	579,744
Accrued management fee	183,343
Payable for daily variation on futures contracts	2,523,410
Other affiliated payables	54,919
Collateral on securities loaned, at value	487,789,184
Total liabilities		494,295,276
Net Assets		$ 3,087,380,569
Net Assets consist of:
Paid in capital		$ 2,916,438,150
Undistributed net investment income		5,865,758
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		59,194,724
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		105,881,937
Net Assets		$ 3,087,380,569
Investor Class: Net Asset Value, offering price and redemption price per share ($2,162,049,402 ÷ 61,503,991 shares)		$ 35.15
Fidelity Advantage Class: Net Asset Value, offering price and redemption price per share ($925,331,167 ÷ 26,321,503 shares)		$ 35.15

Statement of Operations

	Year ended February 29, 2008
Investment Income
Dividends		$ 38,379,102
Interest		304,484
Income from Fidelity Central Funds (including $5,681,107 from security lending)		11,184,692
Total income		49,868,278
Expenses
Management fee	$ 2,316,336
Transfer agent fees	682,906
Independent trustees' compensation	12,065
Miscellaneous	7,454
Total expenses before reductions	3,018,761
Expense reductions	(189,180)	2,829,581
Net investment income (loss)		47,038,697
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	169,707,523
Foreign currency transactions	39
Futures contracts	(19,045,190)
Swap agreements	(560,661)
Total net realized gain (loss)		150,101,711
Change in net unrealized appreciation (depreciation) on: Investment securities	(399,615,557)
Assets and liabilities in foreign currencies	(2,919)
Futures contracts	(3,642,883)
Swap agreements	(829,670)
Total change in net unrealized appreciation (depreciation)		(404,091,029)
Net gain (loss)		(253,989,318)
Net increase (decrease) in net assets resulting from operations		$ (206,950,621)

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended February 29, 2008	Year ended February 28, 2007
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 47,038,697	$ 33,375,689
Net realized gain (loss)	150,101,711	118,428,835
Change in net unrealized appreciation (depreciation)	(404,091,029)	142,996,813
Net increase (decrease) in net assets resulting from operations	(206,950,621)	294,801,337
Distributions to shareholders from net investment income	(38,467,402)	(29,674,620)
Distributions to shareholders from net realized gain	(151,505,769)	(70,580,264)
Total distributions	(189,973,171)	(100,254,884)
Share transactions - net increase (decrease)	450,019,990	707,795,119
Redemption fees	387,884	207,137
Total increase (decrease) in net assets	53,484,082	902,548,709
Net Assets
Beginning of period	3,033,896,487	2,131,347,778
End of period (including undistributed net investment income of $5,865,758 and undistributed net investment income of $9,472,172, respectively)	$ 3,087,380,569	$ 3,033,896,487

Financial Highlights - Investor Class

Years ended February 28,	2008 F	2007	2006	2005	2004 F
Selected Per-Share Data
Net asset value, beginning of period	$ 39.63	$ 36.65	$ 31.47	$ 28.76	$ 18.29
Income from Investment Operations
Net investment income (loss) B	.56	.51	.43	.28 H	.20
Net realized and unrealized gain (loss)	(2.73)	3.98	5.19	2.64	10.40
Total from investment operations	(2.17)	4.49	5.62	2.92	10.60
Distributions from net investment income	(.46)	(.44)	(.34)	(.22)	(.14)
Distributions from net realized gain	(1.85)	(1.07)	(.10)	-	-
Total distributions	(2.31)	(1.51)	(.44)	(.22)	(.14)
Redemption fees added to paid in capital B	- G	- G	- G	.01	.01
Net asset value, end of period	$ 35.15	$ 39.63	$ 36.65	$ 31.47	$ 28.76
Total Return A	(6.02) %	12.46%	17.94%	10.20%	58.07%
Ratios to Average Net Assets C,E
Expenses before reductions	.10%	.10%	.10%	.43%	.44%
Expenses net of fee waivers, if any	.10%	.10%	.10%	.23%	.40%
Expenses net of all reductions	.09%	.09%	.10%	.23%	.40%
Net investment income (loss)	1.41%	1.36%	1.30%	.96% H	.82%
Supplemental Data
Net assets, end of period (000 omitted)	$ 2,162,049	$ 2,082,399	$ 1,499,848	$ 1,461,307	$ 985,748
Portfolio turnover rate D	17%	16%	13%	17%	18%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^D Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

^F For the year ended February 29.

^G Amount represents less than $.01 per share.

^H As a result in the change in the estimate of the return of capital components of dividend income realized in the year ended February 29, 2004, net investment income per share and the ratio of net investment income to average net assets for the year ended February 28, 2005 have been reduced by $.01 per share and .03%, respectively. The change in estimate has no impact on total net assets or total return of the class.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Class

Years ended February 28,	2008 I	2007	2006 G
Selected Per-Share Data
Net asset value, beginning of period	$ 39.64	$ 36.66	$ 32.60
Income from Investment Operations
Net investment income (loss) D	.57	.52	.17
Net realized and unrealized gain (loss)	(2.74)	3.98	4.28
Total from investment operations	(2.17)	4.50	4.45
Distributions from net investment income	(.47)	(.45)	(.29)
Distributions from net realized gain	(1.85)	(1.07)	(.10)
Total distributions	(2.32)	(1.52)	(.39)
Redemption fees added to paid in capital D,J	-	-	-
Net asset value, end of period	$ 35.15	$ 39.64	$ 36.66
Total Return B,C	(6.01) %	12.49%	13.71%
Ratios to Average Net Assets E,H
Expenses before reductions	.07%	.07%	.07% A
Expenses net of fee waivers, if any	.07%	.07%	.07% A
Expenses net of all reductions	.07%	.07%	.07% A
Net investment income (loss)	1.44%	1.39%	1.28% A
Supplemental Data
Net assets, end of period (000 omitted)	$ 925,331	$ 951,498	$ 631,500
Portfolio turnover rate F	17%	16%	13%

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G For the period October 14, 2005 (commencement of sale of shares) to February 28, 2006.

^H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of all reductions represent the net expenses paid by the class.

^I For the year ended February 29.

^J Amount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan International Index Fund

Performance: The Bottom Line

Average annual total return reflects the change in the value of an investment, assuming reinvestment of the class' dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The $10,000 table and the fund's returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund's total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.

Average Annual Total Returns

Periods ended February 29, 2008	Past 1 year	Past 5 years	Past 10 years
Spartan International Index Fund - Investor Class	-0.15%	20.72%	6.59%
Spartan International Index Fund - Fidelity Advantage Class A	-0.12%	20.74%	6.59%

^A The initial offering of Fidelity Advantage Class took place on October 14, 2005. Returns prior to October 14, 2005, are those of Investor Class.

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Spartan International Index Fund - Investor Class on February 28, 1998. The chart shows how the value of your investment would have changed, and also shows how the Morgan Stanley Capital International^SM Europe, Australasia and Far East (MSCI® EAFE®) Index performed over the same period.

Annual Report

Spartan International Index Fund

Management's Discussion of Fund Performance

Comments from Jeffrey Adams, who oversees the Spartan® International Market Index Fund's investment management team as Head of Indexing for Geode Capital Management, LLC

Despite occasional stumbles, the five-year bull run in global stock markets continued during the 12-month period ending February 29, 2008. Emerging markets led the way, rising 33.60% as measured by the Morgan Stanley Capital International^SM (MSCI®) Emerging Markets (EM) Index. Latin American stocks did particularly well, gaining 55.34% according to the MSCI EM Latin America index. In general, developing nations appeared to be better positioned to withstand a global economic deceleration than in years past, due in large part to healthier local economies and less dependence on exports to the United States. In comparison, developed international equity markets were up only 1.00% as measured by the MSCI Europe, Australasia, and Far East (EAFE®) index - a performance monitor of established markets outside the United States and Canada. Developed nations, including those in Europe, were hurt more by the impact of the U.S. subprime mortgage-related spillover than were emerging markets. Japan, meanwhile, continued to struggle with a slowdown in consumer spending and sluggish domestic growth, as evidenced by the 12.91% decline of the Tokyo Stock Exchange Stock Price Index.

For the year ending February 29, 2008, the fund's Investor Class and Fidelity Advantage Class shares returned -0.15% and -0.12%, respectively, lagging the MSCI EAFE index. The fund's performance relative to the index was meaningfully affected by Fidelity's methodologies for valuing certain foreign stocks and for incorporating foreign exchange rates, which differ from those used by the index. Because of the U.S. dollar's weakness during the period, both the fund's and index's returns were helped significantly. Financials - which make up more than a quarter of the MSCI index - were the biggest underperformers by a wide margin. The consumer discretionary and health care groups also turned in negative results. Helped by strong commodity prices, the materials sector did the best overall. Energy, utility and consumer staples stocks also gained significant ground. Not surprisingly, most of the fund's biggest individual detractors were financial companies that suffered following the troubles in subprime mortgages and the credit markets. The most notable laggard was Swiss investment bank UBS, which reported enormous subprime-related losses. Two other underperforming financials with significant subprime losses were U.K.-based banks Royal Bank of Scotland Group and Barclays. HBOS, another U.K.-based financial institution, had less subprime exposure but nevertheless had a big stake in U.S. mortgage-backed securities, which unnerved investors. Elsewhere, Japanese automaker Toyota Motor fell as the sales environment in its key U.S. market became more challenging. In contrast, mining companies Rio Tinto and BHP Billiton made significant contributions. U.K.-based Rio Tinto rose after an acquisition offer by Australia's BHP Billiton. The offer was rejected, but investors became optimistic that the company might fetch a large premium in the future. Billiton generated record quarterly iron ore output and benefited from rising commodity prices, which boosted earnings. Finnish mobile phone giant Nokia saw big profit gains that exceeded Wall Street analysts' estimates. Switzerland-based Nestlé, the world's largest food company, generated much-higher-than-expected 2007 net profits, boosting its shares.

The views expressed above reflect those of the portfolio manager only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.

Annual Report

Spartan International Index Fund

Investment Changes

Top Ten Stocks as of February 29, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels)	1.6	1.6
Nestle SA (Reg.) (Switzerland, Food Products)	1.4	1.3
HSBC Holdings PLC (United Kingdom) (Reg.) (United Kingdom, Commercial Banks)	1.4	1.5
Vodafone Group PLC (United Kingdom, Wireless Telecommunication Services)	1.3	1.2
Total SA Series B (France, Oil, Gas & Consumable Fuels)	1.3	1.2
Toyota Motor Corp. (Japan, Automobiles)	1.1	1.1
Nokia Corp. (Finland, Communications Equipment)	1.1	1.0
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)	1.1	0.9
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels)	1.0	1.0
Telefonica SA (Spain, Diversified Telecommunication Services)	1.0	0.8
	12.3
Market Sectors as of February 29, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	24.7	27.6
Industrials	11.2	11.2
Materials	10.7	9.6
Consumer Discretionary	9.1	10.3
Consumer Staples	8.2	7.5
Energy	7.8	7.5
Utilities	6.5	5.8
Health Care	6.4	6.1
Telecommunication Services	6.1	5.7
Information Technology	5.4	5.5

Geographic Diversification (% of fund's net assets)
As of February 29, 2008
	United Kingdom	22.1%
	Japan	20.7%
	France	9.6%
	Germany	9.4%
	Switzerland	6.8%
	Australia	6.6%
	Spain	4.1%
	Italy	3.8%
	Netherlands	2.8%
	Other	14.1%

Percentages are adjusted for the effect of futures contracts, if applicable.

As of August 31, 2007
	United Kingdom	22.9%
	Japan	21.4%
	France	9.5%
	Germany	8.7%
	Switzerland	6.5%
	Australia	6.1%
	Spain	4.1%
	Netherlands	4.0%
	Italy	3.8%
	Other	13.0%

Percentages are adjusted for the effect of futures contracts, if applicable.

Annual Report

Spartan International Index Fund

Investments February 29, 2008

Showing Percentage of Net Assets

Common Stocks - 95.6%
	Shares		Value
Australia - 6.3%
ABC Learning Centres Ltd.	196,922		$ 386,286
AGL Energy Ltd.	224,936		2,324,300
Alumina Ltd.	525,467		3,095,949
Amcor Ltd.	446,143		2,918,767
AMP Ltd.	912,449		6,736,316
Ansell Ltd.	61,179		721,561
Aristocrat Leisure Ltd.	183,651		1,748,974
Asciano Group unit	289,753		1,320,496
ASX Ltd.	87,175		3,351,673
Australia & New Zealand Banking Group Ltd.	935,252		18,872,808
AXA Asia Pacific Holdings Ltd.	429,138		2,285,725
Babcock & Brown Ltd.	112,326		1,759,564
Bendigo Bank Ltd.	121,786		1,135,847
BHP Billiton Ltd.	1,671,881		61,174,126
Billabong International Ltd.	90,526		1,051,204
BlueScope Steel Ltd.	350,440		3,505,503
Boart Longyear Ltd.	590,536		1,106,191
Boral Ltd.	288,555		1,604,032
Brambles Ltd.	680,673		6,536,433
Caltex Australia Ltd.	65,991		895,853
CFS Retail Property Trust	704,778		1,380,480
Challenger Financial Services Group Ltd.	212,675		425,292
Coca-Cola Amatil Ltd.	258,929		2,298,241
Cochlear Ltd.	27,177		1,354,925
Commonwealth Bank of Australia	659,604		25,542,433
Commonwealth Property Office Fund	334,000		400,194
Computershare Ltd.	252,146		1,969,408
Crown Ltd. (a)	214,960		2,322,853
CSL Ltd.	278,160		9,329,330
CSR Ltd.	409,986		1,277,349
DEXUS Property Group unit	1,425,058		2,191,955
Downer EDI Ltd.	149,428		853,426
Fortescue Metals Group Ltd. (a)	616,106		4,367,531
Fosters Group Ltd.	985,417		4,855,015
Futuris Corp. Ltd.	260,277		481,929
Goodman Fielder Ltd.	561,611		969,923
Goodman Group unit	667,868		2,676,481
Harvey Norman Holdings Ltd.	249,277		1,042,665
Iluka Resources Ltd. (d)	130,684		434,307
Incitec Pivot Ltd.	24,862		3,376,814
ING Industrial Fund	223,979		431,091
Insurance Australia Group Ltd.	1,005,633		3,491,259
John Fairfax Holdings Ltd.	541,290		1,935,631
Leighton Holdings Ltd.	67,375		2,824,428
Lend Lease Corp. Ltd.	164,784		2,104,877
Lion Nathan Ltd.	161,257		1,420,677
Macquarie Airports unit	305,939		987,175
Macquarie Communications Infrastructure Group unit	119,623		513,097
Macquarie Group Ltd.	140,489		7,016,076
Macquarie Infrastructure Group unit	1,269,406		3,405,424
Macquarie Office Trust	1,211,233		1,210,633
	Shares		Value
Mirvac Group unit	549,959		$ 1,949,463
National Australia Bank Ltd.	801,558		21,186,572
Newcrest Mining Ltd.	218,121		7,583,314
OneSteel Ltd.	394,068		2,557,253
Orica Ltd.	164,544		4,356,309
Origin Energy Ltd.	395,263		3,221,524
Oxiana Ltd.	625,002		2,243,127
Pacific Brands Ltd.	159,980		328,315
Paladin Energy Ltd. (a)(d)	253,210		1,414,017
PaperlinX Ltd.	185,477		361,306
Perpetual Trustees Australia Ltd.	19,673		998,703
Qantas Airways Ltd.	427,632		1,663,173
QBE Insurance Group Ltd.	432,895		8,953,890
Rio Tinto Ltd.	142,388		17,742,155
Santos Ltd.	270,462		3,205,868
Sims Group Ltd.	48,765		1,457,643
Sonic Healthcare Ltd.	139,878		1,848,312
St. George Bank Ltd.	150,372		3,283,641
Stockland Corp. Ltd. unit	786,621		5,090,702
Suncorp-Metway Ltd.	483,639		6,204,232
Tabcorp Holdings Ltd.	271,540		3,827,972
Tattersall's Ltd.	481,807		1,736,965
Telstra Corp. Ltd.	1,481,503		6,659,927
The GPT Group unit	978,423		2,869,933
Toll Holdings Ltd.	273,154		2,576,648
Transurban Group unit	552,682		3,289,758
Wesfarmers Ltd.	273,671		9,481,997
Wesfarmers Ltd. (a)	78,427		2,772,577
Westfield Group unit	860,517		13,794,644
Westpac Banking Corp.	924,229		19,768,005
Woodside Petroleum Ltd.	244,811		12,801,534
Woolworths Ltd.	601,256		16,057,823
WorleyParsons Ltd.	74,736		2,558,223
Zinifex Ltd.	219,723		2,210,691
TOTAL AUSTRALIA			411,478,743
Austria - 0.5%
Andritz AG	16,528		925,028
Erste Bank AG	96,149		5,562,822
Flughafen Wien AG	5,309		606,996
Immoeast AG (a)	189,887		1,706,341
IMMOFINANZ Immobilien Anlagen AG (d)	233,758		2,535,662
Mayr-Melnhof Karton AG	5,220		531,151
Oesterreichische Elektrizitaetswirtschafts AG (Verbund)	37,496		2,774,838
OMV AG	81,330		5,875,913
Raiffeisen International Bank Holding AG	26,470		3,391,481
RHI AG (a)	13,772		558,766
Telekom Austria AG	167,892		3,797,268
voestalpine AG	60,172		3,781,862
Common Stocks - continued
	Shares		Value
Austria - continued
Wiener Staedische Versicher AG	16,688		$ 1,396,983
Wienerberger AG	40,362		1,947,911
TOTAL AUSTRIA			35,393,022
Belgium - 1.2%
Agfa-Gevaert NV	63,231		609,944
Almancora SCA (Certificaten Van Aandelen)	4,521		451,488
Barco NV	2,933		212,842
Bekaert SA	3,646		480,141
Belgacom SA	86,674		4,150,583
Cofinimmo SA	2,000		410,153
Colruyt NV (d)	7,628		1,863,701
Compagnie Maritime Belge SA (CMB)	7,810		580,010
Compagnie Nationale A Portefeuille (CNP)	5,000		346,921
D'ieteren SA	1,242		439,774
Delhaize Group	46,099		3,482,318
Dexia SA	232,171		5,457,833
Euronav NV	12,303		476,291
Fortis	1,044,239		23,067,418
Groupe Bruxelles Lambert SA	40,836		4,891,128
Groupe Bruxelles Lambert SA (strip VVPR) (a)	2,466		75
InBev SA	92,493		8,358,799
KBC Groupe SA	89,888		11,269,717
Mobistar SA (d)	18,454		1,572,410
Omega Pharma SA	9,000		427,119
Solvay SA	29,567		3,715,350
UCB SA	53,376		2,529,904
Umicore SA	56,080		2,848,840
TOTAL BELGIUM			77,642,759
Bermuda - 0.1%
C C Land Holdings Ltd.	408,000		418,719
Chinese Estates Holdings Ltd.	154,000		226,298
Frontline Ltd.	25,300		1,153,910
Noble Group Ltd.	457,000		715,317
NWS Holdings Ltd.	158,000		459,392
Pacific Basin Shipping Ltd.	425,000		704,247
SeaDrill Ltd. (a)	121,100		3,119,065
TOTAL BERMUDA			6,796,948
Cayman Islands - 0.1%
Belle International Holdings Ltd.	1,071,000		1,294,172
Foxconn International Holdings Ltd. (a)	983,000		1,539,924
Hutchison Telecommunications International Ltd.	882,000		1,181,532
Kingboard Chemical Holdings Ltd.	286,500		1,273,452
Lee & Man Paper Manufacturing Ltd.	190,000		530,460
Shui On Land Ltd.	963,000		916,029
TOTAL CAYMAN ISLANDS			6,735,569
	Shares		Value
China - 0.1%
Parkson Retail Group Ltd.	45,000		$ 468,448
Tencent Holdings Ltd.	421,000		2,617,135
TOTAL CHINA			3,085,583
Denmark - 1.0%
A.P. Moller - Maersk AS:
Series A	130		1,341,697
Series B	534		5,486,741
Bang & Olufsen AS Series B (d)	5,525		372,647
Carlsberg AS Series B	15,563		1,934,085
Coloplast AS Series B	12,860		1,079,720
Dampskibsselskabet TORM AS	11,000		331,929
Danisco AS	24,375		1,715,512
Danske Bank AS (d)	222,248		8,488,606
DSV de Sammensluttede Vognmaend AS	86,940		1,699,346
East Asiatic Co. Ltd.	8,691		678,197
FLS Industries	27,150		2,534,649
GN Store Nordic AS (a)(d)	88,265		430,678
H. Lundbeck AS	25,135		600,153
Jyske Bank AS (Reg.) (a)	26,900		1,855,226
NKT Holding AS	11,875		883,389
Novo Nordisk AS Series B	245,960		16,824,019
Novozymes AS Series B	21,093		1,841,292
Rockwool International AS Series B	2,220		387,137
Sydbank AS	29,300		1,061,362
Topdanmark AS (a)	6,865		1,042,777
Trygvesta AS	11,650		896,643
Vestas Wind Systems AS (a)	92,928		9,419,892
William Demant Holding AS (a)(d)	12,767		913,805
TOTAL DENMARK			61,819,502
Finland - 1.9%
Amer Group PLC (A Shares) (d)	31,652		661,060
Cargotec Corp. (B Shares)	16,005		790,373
Elisa Corp. (A Shares)	67,466		2,056,135
Fortum Oyj	222,253		9,278,738
KCI Konecranes Oyj	30,250		1,098,202
Kesko Oyj	30,193		1,375,503
Kone Oyj (B Shares)	78,594		2,749,715
Metso Corp.	58,774		3,057,592
Neste Oil Oyj	55,938		1,957,030
Nokia Corp.	1,959,484		70,561,019
Nokian Tyres Ltd.	46,974		1,931,057
OKO Bank (A Shares)	53,513		934,267
Orion Oyj (B Shares)	38,081		813,491
Outokumpu Oyj (A Shares)	50,405		1,911,621
Rautaruukki Oyj (K Shares)	42,837		1,867,525
Sampo Oyj (A Shares)	204,115		5,539,195
Sanoma-WSOY Oyj	42,015		1,059,360
Stora Enso Oyj (R Shares)	268,956		3,358,310
TietoEnator Oyj	39,333		738,261
UPM-Kymmene Corp.	259,436		4,487,942
Uponor Oyj	22,756		594,311
Common Stocks - continued
	Shares		Value
Finland - continued
Wartsila Corp. (B Shares)	32,680		$ 2,233,668
YIT-Yhtyma OY	62,261		1,546,593
TOTAL FINLAND			120,600,968
France - 9.4%
Accor SA	91,155		6,473,988
Aeroports de Paris	17,169		2,087,116
Air France KLM (Reg.)	52,140		1,404,639
Alcatel-Lucent SA	1,147,823		6,737,721
Alstom SA	51,605		10,844,209
Atos Origin SA (a)	31,874		1,717,438
AXA SA	797,614		26,847,687
BIC SA	13,117		829,290
BNP Paribas SA	414,597		37,061,285
Bouygues SA	115,726		7,903,326
Cap Gemini SA	66,183		3,616,092
Carrefour SA	296,870		20,875,602
Casino Guichard Perrachon et Compagnie	18,187		2,056,876
Christian Dior SA	16,349		1,781,519
CNP Assurances	21,842		2,403,164
Compagnie de St. Gobain	142,029		11,101,940
Compagnie Generale de Geophysique SA (a)	12,205		2,977,229
Credit Agricole SA	321,766		8,726,995
Dassault Systemes SA	28,376		1,547,095
Eiffage SA	6,009		528,698
Electricite de France	51,739		4,825,217
Essilor International SA	98,123		5,825,748
Eurazeo SA	3,573		430,937
France Telecom SA	914,337		30,584,573
Gaz de France	100,835		5,768,637
Gecina SA	6,793		984,189
Groupe Danone	220,044		16,888,377
Hermes International SA	31,650		3,703,758
ICADE	8,148		1,151,859
Imerys	12,714		1,066,268
JC Decaux SA	23,666		713,061
Klepierre SA	32,976		1,925,560
L'Air Liquide SA	1,470		208,018
L'Air Liquide SA (a)	67,942		9,689,623
L'Air Liquide SA (a)	50,937		7,264,436
L'Oreal SA	122,993		14,594,356
Lafarge SA (a)	43,250		7,548,839
Lafarge SA (a)	28,286		4,937,028
Lagardere S.C.A. (Reg.)	64,037		5,030,740
Legrand SA	22,131		699,555
LVMH Moet Hennessy - Louis Vuitton	122,386		12,572,914
M6 Metropole Television SA	35,276		831,500
Michelin SA (Compagnie Generale des Etablissements) Series B	67,413		6,638,872
Natixis SA	71,694		1,049,155
Neopost SA (d)	13,705		1,422,422
	Shares		Value
Neuf Cegetel	16,208		$ 856,668
PagesJaunes Groupe SA	65,759		1,223,019
Pernod Ricard SA	84,770		8,966,638
Peugeot Citroen SA	72,966		5,546,271
Pinault Printemps-Redoute SA	37,483		5,111,702
Publicis Groupe SA	62,966		2,273,658
Renault SA	92,857		9,920,464
Safran SA	77,938		1,559,580
Sanofi-Aventis	510,609		37,876,976
Schneider Electric SA	110,250		12,552,300
SCOR	79,411		1,797,596
Societe Des Autoroutes Paris-Rhin-Rhone	9,693		1,100,052
Societe Generale:
rights 2/29/08 (a)(d)	184,413		1,620,846
Series A (d)	184,413		19,730,106
Sodexho Alliance SA	44,996		2,527,801
Suez SA (France)	517,067		33,143,995
Technip SA	51,613		4,213,119
Television Francaise 1 SA	46,712		1,100,660
Thales SA	42,963		2,628,689
Thomson SA	118,022		906,543
Total SA:
(strip VVPR) (a)	3,096		47
Series B	1,071,443		80,776,088
Unibail-Rodamco	34,607		8,424,974
Valeo SA	32,634		1,234,198
Vallourec SA	22,477		4,664,365
Veolia Environnement	174,758		15,547,306
Vinci SA	201,615		13,920,308
Vivendi	575,378		22,736,980
Wendel	5,690		641,674
Zodiac SA	16,698		868,799
TOTAL FRANCE			607,348,973
Germany - 8.2%
Adidas-Salomon AG	99,837		6,334,615
Allianz AG (Reg.)	224,423		39,386,237
Altana AG	26,722		622,405
Arcandor AG (a)	33,159		585,778
BASF AG	241,659		30,557,781
Bayer AG	362,889		27,688,431
Bayerische Motoren Werke AG (BMW)	86,269		4,728,233
Beiersdorf AG	40,619		3,216,576
Bilfinger Berger AG	17,753		1,410,918
Celesio AG	41,840		2,400,790
Commerzbank AG	296,233		8,985,686
Continental AG	75,805		7,427,506
Daimler AG (Reg.)	467,404		38,883,339
Deutsche Bank AG	246,891		27,395,025
Deutsche Boerse AG	98,207		15,564,803
Deutsche Lufthansa AG (Reg.)	109,292		2,557,719
Deutsche Post AG	391,155		13,011,834
Deutsche Postbank AG	36,672		3,572,605
Common Stocks - continued
	Shares		Value
Germany - continued
Deutsche Telekom AG (Reg.)	1,399,026		$ 26,427,601
Douglas Holding AG	11,423		607,338
E.ON AG	310,350		58,190,625
Fraport AG Frankfurt Airport Services Worldwide	3,476		258,973
Fresenius Medical Care AG	90,466		4,752,429
GEA Group AG (a)	73,859		2,410,584
HeidelbergCement AG	6,163		984,615
HeidelbergCement AG (strip VVPR) (a)	239		0
Heidelberger Druckmaschinen AG	23,075		558,982
Henkel KGaA	46,369		1,875,246
Hochtief AG	20,065		2,186,876
Hypo Real Estate Holding AG	91,259		2,627,673
Infineon Technologies AG (a)	354,569		2,861,372
IVG Immobilien AG	48,221		1,683,366
K&S AG	17,677		5,143,044
Linde AG	62,224		8,278,049
MAN AG	54,396		7,159,418
Merck KGaA	30,998		3,860,008
Metro AG	77,010		6,412,977
MLP AG	18,470		260,350
Muenchener Rueckversicherungs-Gesellschaft AG (Reg.)	102,892		18,131,590
Premiere AG (a)	38,595		824,062
Puma AG	3,762		1,341,702
Q-Cells AG (a)	22,716		1,824,979
Rheinmetall AG	15,568		1,085,535
RWE AG	216,700		26,206,017
Salzgitter AG	19,594		3,457,146
SAP AG	428,298		20,305,608
Siemens AG (Reg.)	432,741		55,243,716
SolarWorld AG	38,364		1,739,609
Suedzucker AG (Bearer) (d)	31,421		690,726
Thyssenkrupp AG	180,539		10,384,015
TUI AG (d)	104,672		2,514,930
Volkswagen AG	77,580		17,632,246
Wacker Chemie AG	4,256		907,855
Wincor Nixdorf AG	15,763		1,252,084
TOTAL GERMANY			534,411,627
Greece - 0.7%
Alpha Bank AE	176,615		5,357,058
Bank of Piraeus	159,648		4,751,382
Coca-Cola Hellenic Bottling Co. SA (Bearer)	76,039		3,327,537
EFG Eurobank Ergasias SA	162,373		4,676,961
Folli Follie SA	6,944		221,194
Greek Organization of Football Prognostics SA	104,763		3,426,900
Hellenic Exchanges Holding SA	27,077		652,639
Hellenic Petroleum SA	49,850		697,933
Hellenic Technodomiki Tev SA	47,248		578,627
	Shares		Value
Hellenic Telecommunication Organization SA (OTE)	174,829		$ 4,855,943
Motor Oil (HELLAS) Corinth Refineries SA	19,277		397,344
National Bank of Greece SA	199,906		10,830,453
Public Power Corp. of Greece	53,932		2,290,309
Titan Cement Co. SA (Reg.)	30,761		1,323,119
Viohalco SA	40,274		444,230
TOTAL GREECE			43,831,629
Hong Kong - 2.0%
ASM Pacific Technology Ltd.	104,329		692,980
Bank of East Asia Ltd.	710,492		3,816,180
BOC Hong Kong Holdings Ltd.	1,920,566		4,706,569
Cathay Pacific Airways Ltd.	645,327		1,329,796
Cheung Kong Holdings Ltd.	743,449		11,105,260
Cheung Kong Infrastructure Holdings Ltd.	290,450		1,146,973
CLP Holdings Ltd.	695,657		5,438,077
Esprit Holdings Ltd.	527,423		6,628,181
Fosun International Ltd.	785,000		608,955
Giordano International Ltd.	892,194		372,403
Hang Lung Group Ltd.	145,000		663,209
Hang Lung Properties Ltd.	1,007,423		3,617,515
Hang Seng Bank Ltd.	386,601		7,317,696
Henderson Land Development Co. Ltd.	539,963		4,192,186
Hong Kong & China Gas Co. Ltd.	1,821,469		5,304,235
Hong Kong Aircraft & Engineering Co.	27,200		601,116
Hong Kong Electric Holdings Ltd.	719,676		4,075,715
Hong Kong Exchanges & Clearing Ltd.	534,198		10,148,264
Hopewell Holdings Ltd.	312,000		1,429,921
Hutchison Whampoa Ltd.	1,070,158		10,029,307
Hysan Development Co. Ltd.	275,625		758,033
Kerry Properties Ltd.	319,681		2,135,856
Li & Fung Ltd.	1,177,623		4,283,443
Lifestyle International Holdings Ltd.	294,000		770,959
Link (REIT)	1,180,811		2,889,875
Melco International Development Ltd.	358,000		504,948
MTR Corp. Ltd.	770,113		2,854,252
New World Development Co. Ltd.	1,135,580		3,052,454
Orient Overseas International Ltd.	93,900		552,994
PCCW Ltd.	1,841,751		1,062,768
Shangri-La Asia Ltd.	685,380		2,086,235
Shun Tak Holdings Ltd.	548,000		808,999
Sino Land Co.	648,773		1,621,116
Sun Hung Kai Properties Ltd.	677,141		11,800,244
Swire Pacific Ltd. (A Shares)	420,884		4,797,338
Television Broadcasts Ltd.	156,000		912,853
Tingyi (Cayman Island) Holding Corp.	750,000		946,142
Wharf Holdings Ltd.	728,585		3,685,325
Wheelock & Co. Ltd.	112,000		327,918
Wing Hang Bank Ltd.	79,500		1,161,766
Yue Yuen Industrial Holdings Ltd.	353,500		1,046,177
TOTAL HONG KONG			131,284,233
Common Stocks - continued
	Shares		Value
Ireland - 0.6%
Allied Irish Banks PLC	439,518		$ 8,974,958
Anglo Irish Bank Corp. plc	161,052		2,274,916
Bank of Ireland	509,622		7,262,114
CRH PLC	272,424		10,119,172
DCC plc (Ireland)	28,899		727,036
Elan Corp. PLC (a)	206,397		4,737,449
Greencore Group PLC	57,656		380,745
IAWS Group PLC (a)	38,015		769,653
Irish Life & Permanent PLC	121,671		1,978,912
Kerry Group PLC Class A	57,827		1,814,253
Kingspan Group PLC (Ireland)	50,686		686,407
Paddy Power PLC (Ireland)	25,324		810,793
Ryanair Holdings PLC (a)	197,226		941,586
Smurfit Kappa Group PLC	37,389		533,407
TOTAL IRELAND			42,011,401
Italy - 3.6%
A2A SpA	372,495		1,506,747
Alleanza Assicurazioni SpA	224,750		2,887,606
Arnoldo Mondadori Editore SpA (d)	70,704		571,522
Assicurazioni Generali SpA	522,393		22,450,736
Atlantia SpA	122,589		3,930,778
Autogrill SpA	52,815		844,912
Banca Carige SpA	53,110		207,113
Banca Monte dei Paschi di Siena SpA (d)	526,235		2,389,273
Banca Popolare di Milano	194,733		2,318,994
Banco Popolare Scarl (a)	310,701		5,874,479
Bulgari SpA	60,172		669,884
Enel SpA	2,140,438		23,052,518
ENI SpA	1,299,433		44,784,958
Fiat SpA	343,284		7,248,317
Finmeccanica SpA	157,856		4,854,146
Fondiaria-Sai SpA	28,718		1,274,379
IFIL Finanziaria di Partecipazioni SpA	55,281		428,561
Intesa Sanpaolo SpA	3,863,350		25,945,582
Italcementi SpA	38,500		783,086
Lottomatica SpA	35,597		1,285,259
Luxottica Group SpA (d)	62,388		1,715,670
Mediaset SpA	388,383		3,507,089
Mediobanca SpA	259,861		5,013,005
Mediolanum SpA (d)	100,728		633,561
Parmalat SpA	690,728		2,633,770
Pirelli & C SpA (a)	1,430,544		1,411,804
Prysmian SpA	69,542		1,359,236
Saipem SpA	64,967		2,654,012
Seat Pagine Gialle SpA	1,785,156		524,072
Snam Rete Gas SpA	467,478		3,250,823
Telecom Italia SpA	5,335,692		13,296,544
Terna SpA	653,589		2,827,331
UniCredit SpA	4,599,112		33,817,714
	Shares		Value
Unione di Banche Italiane Scpa	314,142		$ 7,385,065
Unipol Gruppo Finanziario SpA	71,487		201,363
TOTAL ITALY			233,539,909
Japan - 19.8%
77 Bank Ltd.	162,223		956,134
Access Co. Ltd. (a)(d)	86		306,089
ACOM Co. Ltd. (d)	30,140		871,793
Aderans Holdings Co. Ltd.	10,700		194,122
Advantest Corp. (d)	71,390		1,776,770
Aeon Co. Ltd.	303,200		3,653,147
Aeon Credit Service Co. Ltd.	41,400		603,376
Aeon Mall Co. Ltd.	32,500		797,012
Aiful Corp. (d)	37,805		672,740
Aioi Insurance Co. Ltd.	92,000		472,727
Aisin Seiki Co. Ltd.	101,500		4,042,986
Ajinomoto Co., Inc.	332,866		4,001,050
Alfresa Holdings Corp.	10,400		722,189
All Nippon Airways Co. Ltd.	250,000		1,039,992
Alps Electric Co. Ltd.	76,477		893,652
Amada Co. Ltd.	179,000		1,345,610
Aoyama Trading Co. Ltd.	20,300		425,853
Aozora Bank Ltd.	83,000		221,222
Asahi Breweries Ltd.	188,503		3,523,498
Asahi Chem Industries Ltd.(OLD)	579,727		3,190,436
Asahi Glass Co. Ltd.	471,677		5,372,362
Asatsu-DK, Inc.	20,200		652,070
Asics Corp.	92,000		1,072,238
Astellas Pharma, Inc.	249,300		10,895,847
Autobacs Seven Co. Ltd.	15,000		339,519
Bank of Kyoto Ltd.	134,000		1,546,687
Bank of Yokohama Ltd.	552,084		3,581,528
Benesse Corp.	35,400		1,447,898
Bridgestone Corp.	318,379		5,237,623
Brother Industries Ltd.	38,400		408,182
Canon Marketing Japan, Inc.	44,100		783,118
Canon, Inc.	527,844		23,679,083
Casio Computer Co. Ltd.	108,300		1,408,246
Central Glass Co. Ltd.	40,000		176,614
Central Japan Ry Co.	801		7,627,634
Chiba Bank Ltd.	364,674		2,319,329
Chiyoda Corp.	72,000		721,938
Chubu Electric Power Co., Inc.	332,664		8,379,680
Chugai Pharmaceutical Co. Ltd.	120,725		1,396,181
Chugokun Electric Power Co.	51,700		1,088,057
Chuo Mitsui Trust Holdings, Inc.	363,300		2,504,385
Circle K Sunkus Co. Ltd.	11,900		178,317
Citizen Holdings Co. Ltd.	155,966		1,309,696
Coca-Cola West Japan Co. Ltd. (d)	32,700		710,447
COMSYS Holdings Corp.	62,000		502,516
Cosmo Oil Co. Ltd.	179,000		591,499
Credit Saison Co. Ltd.	76,852		2,105,554
CSK Holdings Corp.	32,400		813,763
Dai Nippon Printing Co. Ltd.	290,242		4,577,259
Common Stocks - continued
	Shares		Value
Japan - continued
Daicel Chemical Industries Ltd.	150,000		$ 844,940
Daido Steel Co. Ltd.	168,000		1,185,058
Daifuku Co. Ltd.	40,000		526,308
Daihatsu Motor Co. Ltd.	28,000		296,975
Daiichi Sankyo Co. Ltd.	351,570		10,910,448
Daikin Industries Ltd.	133,894		6,024,895
Dainippon Ink & Chemicals, Inc.	239,995		873,076
Daito Trust Construction Co.	38,263		2,075,781
Daiwa House Industry Co. Ltd.	256,184		2,615,894
Daiwa Securities Group, Inc.	687,985		6,379,190
Denki Kagaku Kogyo KK	172,358		575,921
Denso Corp.	242,338		9,046,852
Dentsu, Inc.	938		2,165,355
Dowa Holdings Co. Ltd.	139,168		970,742
eAccess Ltd.	368		237,918
East Japan Railway Co.	1,700		13,644,815
Ebara Corp. (d)	198,934		566,803
EDION Corp.	33,300		327,464
Eisai Co. Ltd.	121,078		4,366,608
Electric Power Development Co. Ltd.	71,980		2,604,695
Elpida Memory, Inc. (a)(d)	48,100		1,596,074
FamilyMart Co. Ltd.	30,400		895,809
Fanuc Ltd.	95,572		8,910,067
Fast Retailing Co. Ltd.	25,000		1,846,810
Fuji Electric Holdings Co. Ltd.	242,153		924,809
Fuji Heavy Industries Ltd.	71,000		309,736
Fuji Soft ABC, Inc. (d)	8,900		136,738
Fuji Television Network, Inc.	186		281,345
Fujifilm Holdings Corp.	243,005		9,112,194
Fujikura Ltd.	152,000		748,509
Fujitsu Ltd.	924,075		6,574,903
Fukuoka Financial Group, Inc.	345,300		1,769,964
Furukawa Electric Co. Ltd.	313,790		1,105,047
Glory Ltd.	30,600		695,381
Gunma Bank Ltd.	200,663		1,364,692
Gunze Ltd.	132,000		611,738
H2O Retailing Corp.	66,000		474,438
Hachijuni Bank Ltd.	162,000		1,064,658
Hakuhodo DY Holdings, Inc.	10,980		628,310
Hankyu Hanshin Holdings, Inc.	569,200		2,522,941
Haseko Corp.	716,000		1,079,910
Hikari Tsushin, Inc.	10,200		308,943
Hino Motors Ltd.	129,000		913,907
Hirose Electric Co. Ltd.	14,598		1,546,696
Hiroshima Bank Ltd.	207,000		1,019,368
Hitachi Cable Ltd.	87,000		388,962
Hitachi Chemical Co. Ltd.	44,100		840,356
Hitachi Construction Machinery Co. Ltd.	55,000		1,501,600
Hitachi High-Technologies Corp.	35,400		690,075
Hitachi Ltd.	1,688,271		12,050,879
Hitachi Metals Ltd.	49,000		685,138
Hokkaido Electric Power Co., Inc.	75,400		1,688,454
	Shares		Value
Hokuhoku Financial Group, Inc.	576,715		$ 1,630,633
Hokuriku Electric Power Co., Inc.	28,100		625,741
Honda Motor Co. Ltd.	771,060		23,594,437
House Foods Corp.	33,800		514,324
Hoya Corp.	196,516		4,986,188
Ibiden Co. Ltd.	61,600		2,941,448
Idemitsu Kosan Co., Ltd.	10,900		895,494
Inpex Holdings, Inc.	419		4,707,683
Isetan Co. Ltd.	86,600		1,028,784
Ishikawajima-Harima Heavy Industries Co. Ltd.	639,185		1,251,588
Isuzu Motors Ltd.	329,000		1,498,180
Ito En Ltd. (d)	29,200		594,977
Itochu Corp.	730,986		7,697,544
ITOCHU Techno-Solutions Corp.	17,200		481,214
J Front Retailing Co. Ltd.	217,800		1,426,197
JAFCO Co. Ltd.	13,500		465,920
Japan Airlines Corp. (a)	425,420		1,049,688
Japan Petroleum Exploration Co. Ltd.	12,000		837,234
Japan Prime Realty Investment Corp.	199		661,631
Japan Real Estate Investment Corp.	176		1,958,544
Japan Retail Fund Investment Corp.	132		795,081
Japan Steel Works Ltd.	173,000		2,811,393
Japan Tobacco, Inc.	2,225		11,239,475
JFE Holdings, Inc.	287,475		12,809,248
JGC Corp.	108,117		1,753,285
Joyo Bank Ltd.	311,941		1,563,462
Js Group Corp.	118,359		2,012,920
JSR Corp.	81,416		1,786,890
JTEKT Corp.	93,400		1,654,743
Jupiter Telecommunications Co. (a)	895		742,945
Kajima Corp.	441,317		1,369,682
Kamigumi Co. Ltd.	132,663		1,000,915
Kaneka Corp.	132,559		922,241
Kansai Electric Power Co., Inc.	390,136		9,545,133
Kansai Paint Co. Ltd.	83,000		597,361
Kao Corp.	257,750		7,935,561
Kawasaki Heavy Industries Ltd.	645,945		1,555,118
Kawasaki Kisen Kaisha Ltd.	256,000		2,596,868
KDDI Corp.	1,273		7,734,144
Keihin Electric Express Railway Co. Ltd. (d)	181,061		1,233,547
Keio Corp.	234,410		1,327,029
Keisei Electric Railway Co. (d)	103,000		539,029
Keyence Corp.	18,700		4,363,289
Kikkoman Corp. (d)	54,849		633,321
Kinden Corp.	36,000		335,552
Kintetsu Corp. (d)	728,100		2,439,097
Kirin Holdings Co. Ltd.	393,256		6,599,624
KK daVinci Advisors (a)	480		404,128
Kobe Steel Ltd.	1,413,000		4,405,604
Kokuyo Co. Ltd.	18,900		154,548
Komatsu Ltd.	445,045		11,306,146
Komori Corp.	26,600		555,114
Common Stocks - continued
	Shares		Value
Japan - continued
Konami Corp.	42,400		$ 1,403,983
Konica Minolta Holdings, Inc.	219,500		3,109,690
Kose Corp.	8,730		199,634
Kubota Corp.	526,864		3,574,059
Kuraray Co. Ltd.	162,986		1,944,222
Kuraya Sanseido, Inc.	69,800		1,182,954
Kurita Water Industries Ltd.	57,900		1,825,169
Kyocera Corp.	84,102		6,880,060
Kyowa Hakko Kogyo Co. Ltd.	106,689		1,031,182
Kyushu Electric Power Co., Inc.	198,270		4,995,574
Lawson, Inc.	26,116		998,246
Leopalace21 Corp.	59,700		1,219,877
Mabuchi Motor Co. Ltd.	11,421		573,275
Makita Corp.	53,700		1,896,750
Marubeni Corp.	781,244		5,914,879
Marui Group Co. Ltd.	146,849		1,504,129
Matsui Securities Co. Ltd.	68,900		457,543
Matsumotokiyoshi Holdings Co. Ltd.	10,500		214,770
Matsushita Electric Industrial Co. Ltd.	982,073		20,594,072
Matsushita Electric Works Co. Ltd.	183,000		1,816,533
Mazda Motor Corp.	268,000		1,091,997
Meiji Dairies Corp.	137,000		785,285
Meiji Seika Kaisha Ltd. (d)	114,888		539,673
Meitec Corp.	12,300		363,484
Millea Holdings, Inc.	367,000		13,303,751
Minebea Co. Ltd.	191,008		1,223,598
Mitsubishi Chemical Holdings Corp.	616,275		4,168,451
Mitsubishi Corp.	672,202		20,509,208
Mitsubishi Electric Corp.	961,106		8,803,208
Mitsubishi Estate Co. Ltd.	588,723		14,347,465
Mitsubishi Gas Chemical Co., Inc.	195,867		1,452,508
Mitsubishi Heavy Industries Ltd.	1,588,256		7,427,232
Mitsubishi Logistics Corp. (d)	55,000		648,127
Mitsubishi Materials Corp.	601,937		2,812,272
Mitsubishi Motors Corp. of Japan (a)(d)	852,000		1,367,503
Mitsubishi Rayon Co. Ltd.	268,312		916,546
Mitsubishi Tanabe Pharma Corp.	98,000		1,118,967
Mitsubishi UFJ Financial Group, Inc.	4,339,460		38,230,645
Mitsubishi UFJ Lease & Finance Co. Ltd.	21,390		769,278
Mitsui & Co. Ltd.	870,123		18,922,943
Mitsui Chemicals, Inc.	285,683		2,025,675
Mitsui Engineering & Shipbuilding Co.	361,000		1,099,934
Mitsui Fudosan Co. Ltd.	416,677		8,460,197
Mitsui Marine & Fire Insurance Co. Ltd.	613,475		6,446,325
Mitsui Mining & Smelting Co. Ltd.	240,154		878,706
Mitsui O.S.K. Lines Ltd.	527,285		6,848,316
Mitsukoshi Ltd.	189,376		760,772
Mitsumi Electric Co. Ltd.	37,600		1,168,480
Mizuho Financial Group, Inc.	4,819		19,926,789
Mizuho Trust & Banking Co. Ltd. (d)	274,000		436,606
Murata Manufacturing Co. Ltd.	101,454		5,504,685
Namco Bandai Holdings, Inc.	99,450		1,229,966
	Shares		Value
NEC Corp.	1,008,951		$ 4,345,317
NEC Electronics Corp. (a)	22,300		451,403
NGK Insulators Ltd.	138,309		3,140,709
NGK Spark Plug Co. Ltd.	88,000		1,375,615
NHK Spring Co. Ltd.	37,000		287,631
Nichirei Corp.	125,860		623,546
Nidec Corp.	55,642		3,687,136
Nikon Corp.	155,838		4,365,028
Nintendo Co. Ltd.	49,596		24,758,324
Nippon Building Fund, Inc.	240		2,952,717
Nippon Electric Glass Co. Ltd.	164,000		2,377,718
Nippon Express Co. Ltd.	342,546		1,827,304
Nippon Kayaku Co. Ltd.	43,000		256,506
Nippon Light Metal Co. Ltd.	257,000		396,699
Nippon Meat Packers, Inc.	90,740		1,116,270
Nippon Mining Holdings, Inc.	425,500		2,520,173
Nippon Oil Corp.	588,129		4,012,024
Nippon Paper Group, Inc.	434		1,028,176
Nippon Sheet Glass Co. Ltd.	267,000		1,248,376
Nippon Shokubai Co. Ltd.	34,000		250,577
Nippon Steel Corp.	2,918,661		15,355,661
Nippon Telegraph & Telephone Corp.	2,648		11,487,025
Nippon Yusen KK	557,578		5,152,261
Nipponkoa Insurance Co. Ltd.	133,000		1,076,871
Nishi-Nippon City Bank Ltd.	322,000		839,081
Nishimatsu Construction Co. Ltd.	71,000		180,663
Nissan Chemical Industries Co. Ltd.	60,000		684,004
Nissan Motor Co. Ltd.	1,133,448		10,201,033
Nisshin Seifun Group, Inc.	70,090		697,216
Nisshin Steel Co. Ltd.	353,000		1,265,571
Nisshinbo Industries, Inc.	75,000		786,090
Nissin Food Products Co. Ltd. (d)	44,323		1,466,739
Nitori Co. Ltd.	15,850		786,714
Nitto Denko Corp.	78,694		3,831,464
NOK Corp.	53,600		1,110,336
Nomura Holdings, Inc.	892,647		13,978,853
Nomura Real Estate Holdings, Inc.	23,700		435,059
Nomura Real Estate Office Fund, Inc.	95		797,273
Nomura Research Institute Ltd.	50,900		1,449,688
NSK Ltd.	204,576		1,753,848
NTN Corp.	187,611		1,395,670
NTT Data Corp.	647		3,027,704
NTT DoCoMo, Inc.	7,953		11,603,428
NTT Urban Development Co.	487		603,642
Obayashi Corp.	309,704		1,481,444
Obic Co. Ltd.	3,980		734,735
Odakyu Electric Railway Co. Ltd. (d)	334,000		2,184,016
Oji Paper Co. Ltd.	384,352		1,615,586
Oki Electric Industry Co. Ltd. (a)(d)	277,000		494,867
Okuma Corp.	79,000		751,275
Okumura Holdings, Inc. (d)	49,000		209,527
Olympus Corp.	112,429		3,292,103
Omron Corp.	97,960		2,178,722
Ono Pharmaceutical Co. Ltd.	16,600		838,072
Common Stocks - continued
	Shares		Value
Japan - continued
Onward Holdings Co. Ltd.	77,000		$ 750,023
Oracle Corp. Japan (d)	21,200		934,455
Oriental Land Co. Ltd.	27,856		1,622,860
ORIX Corp.	46,538		6,957,849
Osaka Gas Co. Ltd.	938,525		3,765,690
Osaka Titanium Technolo Co. Ltd. (d)	7,800		518,121
OSG Corp. (d)	39,100		386,765
Otsuka Corp.	8,500		668,047
Pioneer Corp. (d)	83,438		876,664
Promise Co. Ltd.	32,225		1,077,394
QP Corp.	20,900		207,830
Rakuten, Inc.	3,092		1,470,307
Resona Holdings, Inc. (d)	2,751		4,449,782
Ricoh Co. Ltd.	321,770		5,167,669
Rinnai Corp.	26,100		807,163
Rohm Co. Ltd.	48,744		3,555,171
Round One Corp.	149		170,781
Ryohin Keikaku Co. Ltd.	9,700		515,637
Sanken Electric Co. Ltd. (d)	72,000		424,186
Sankyo Co. Ltd. (Gunma)	26,500		1,416,112
Santen Pharmaceutical Co. Ltd.	26,600		674,289
Sanwa Holdings Corp.	100,000		485,419
Sanyo Electric Co. Ltd. (a)	683,382		1,442,622
Sapporo Breweries Ltd. (d)	108,578		818,599
Sapporo Hokuyo Holdings, Inc.	126		983,650
SBI E*TRADE Securities Co. Ltd.	680		584,531
SBI Holdings, Inc. (d)	4,812		1,178,500
Secom Co. Ltd.	104,567		5,273,208
Sega Sammy Holdings, Inc. (d)	91,700		1,011,739
Seiko Epson Corp.	59,600		1,521,193
Seino Holdings Co. Ltd.	71,000		470,589
Sekisui Chemical Co. Ltd.	225,293		1,580,235
Sekisui House Ltd.	250,467		2,591,440
Seven & I Holdings Co. Ltd.	416,000		10,343,952
Sharp Corp.	497,675		9,056,474
Shikoku Electric Power Co., Inc.	33,100		954,059
Shimachu Co. Ltd.	29,300		757,445
Shimamura Co. Ltd.	8,600		623,586
SHIMANO, Inc.	35,600		1,495,747
SHIMIZU Corp.	254,416		1,217,198
Shin-Etsu Chemical Co. Ltd.	203,462		10,980,108
Shinko Electric Industries Co.Ltd.	34,500		492,258
Shinko Securities Co. Ltd.	258,000		885,451
Shinsei Bank Ltd.	706,000		2,858,129
Shionogi & Co. Ltd.	149,091		2,555,891
Shiseido Co. Ltd.	173,950		3,964,131
Shizuoka Bank Ltd.	256,274		2,705,875
Showa Denko KK	656,336		2,335,447
Showa Shell Sekiyu KK	68,000		689,876
SMC Corp.	26,371		2,811,688
Softbank Corp.	378,530		7,375,155
Sojitz Corp.	527,900		1,978,848
	Shares		Value
Sompo Japan Insurance, Inc.	446,712		$ 4,142,859
Sony Corp.	498,685		23,542,920
Sony Financial Holdings, Inc.	397		1,585,860
Square Enix Co. Ltd.	13,800		460,681
Stanley Electric Co. Ltd.	79,925		1,688,811
Sumco Corp.	54,900		1,214,037
Sumitomo Chemical Co. Ltd.	784,334		5,429,418
Sumitomo Corp.	548,242		7,884,378
Sumitomo Electric Industries Ltd.	386,906		5,725,441
Sumitomo Heavy Industries Ltd.	276,822		2,207,780
Sumitomo Metal Industries Ltd.	2,003,966		8,488,954
Sumitomo Metal Mining Co. Ltd.	275,065		5,786,823
Sumitomo Mitsui Financial Group, Inc.	3,244		23,431,304
Sumitomo Osaka Cement Co. Ltd.	304,144		618,891
Sumitomo Realty & Development Co. Ltd.	199,000		3,396,145
Sumitomo Rubber Industries Ltd.	75,000		577,963
Sumitomo Trust & Banking Co. Ltd.	654,344		4,407,860
Suzuken Co. Ltd.	26,460		953,105
Suzuki Motor Corp.	96,800		2,614,555
T&D Holdings, Inc.	100,850		5,156,556
Taiheiyo Cement Corp.	398,684		929,376
Taisei Corp.	466,594		1,230,209
Taisho Pharmaceutical Co. Ltd.	83,524		1,702,083
Taiyo Nippon Sanso Corp.	132,000		1,176,591
Taiyo Yuden Co. Ltd.	45,000		490,042
Takara Holdings, Inc.	71,551		434,142
Takashimaya Co. Ltd.	128,000		1,413,643
Takeda Pharmaceutical Co. Ltd.	417,942		23,320,759
Takefuji Corp.	47,631		1,203,066
TDK Corp.	61,525		4,373,367
Teijin Ltd.	366,341		1,419,409
Terumo Corp.	84,712		4,599,636
The Goodwill Group, Inc. (a)(d)	390		68,716
The Suruga Bank Ltd.	76,000		843,842
THK Co. Ltd.	59,000		1,114,052
TIS, Inc.	13,600		248,773
Tobu Railway Co. Ltd. (d)	405,297		1,937,768
Toda Corp. (d)	121,762		529,549
Toho Co. Ltd.	55,554		1,286,658
Toho Titanium Co. Ltd. (d)	13,400		380,688
Tohoku Electric Power Co., Inc.	214,690		4,925,991
Tokai Rika Co. Ltd.	28,200		810,824
Tokuyama Corp.	101,000		752,136
Tokyo Broadcasting System, Inc.	17,300		373,621
Tokyo Electric Power Co.	607,118		15,598,120
Tokyo Electron Ltd.	82,518		5,114,638
Tokyo Gas Co. Ltd.	1,014,395		4,550,349
Tokyo Seimitsu Co. Ltd. (d)	21,100		386,863
Tokyo Steel Manufacturing Co. Ltd.	44,500		531,970
Tokyo Tatemono Co. Ltd.	151,000		1,023,224
Tokyu Corp.	562,954		3,260,632
Tokyu Land Corp.	198,000		1,334,534
TonenGeneral Sekiyu KK	141,856		1,346,705
Toppan Printing Co. Ltd.	298,013		3,255,330
Common Stocks - continued
	Shares		Value
Japan - continued
Toray Industries, Inc.	659,883		$ 4,079,675
Toshiba Corp.	1,543,880		11,580,236
Tosoh Corp.	217,816		779,015
Toto Ltd. (d)	157,185		1,323,690
Toyo Seikan Kaisha Ltd.	71,800		1,259,173
Toyo Suisan Kaisha Ltd.	45,000		733,482
Toyoda Gosei Co. Ltd.	29,500		1,067,296
Toyota Boshoku Corp.	28,700		986,582
Toyota Industries Corp.	95,086		3,599,223
Toyota Motor Corp.	1,346,651		73,089,487
Toyota Tsusho Corp.	98,900		2,510,716
Trend Micro, Inc. (d)	48,000		1,653,640
Ube Industries Ltd.	426,605		1,311,163
Uni-Charm Corp.	21,860		1,597,577
UNY Co. Ltd.	71,000		565,442
Urban Corp.	75,500		490,164
Ushio, Inc.	44,100		918,158
USS Co. Ltd.	9,940		608,986
Wacoal Holdings Corp. (d)	44,000		663,787
West Japan Railway Co.	897		4,103,758
Yahoo! Japan Corp.	7,865		3,496,808
Yakult Honsha Co. Ltd.	47,366		1,325,028
Yamada Denki Co. Ltd.	43,115		3,770,560
Yamaha Corp.	82,343		1,617,321
Yamaha Motor Co. Ltd.	97,400		1,936,047
Yamato Holdings Co. Ltd.	180,232		2,634,123
Yamato Kogyo Co. Ltd.	18,700		786,931
Yamazaki Baking Co. Ltd. (d)	29,000		282,158
Yaskawa Electric Corp.	112,000		1,232,377
Yokogawa Electric Corp.	108,200		1,124,565
Zeon Corp.	89,000		433,626
TOTAL JAPAN			1,286,210,761
Luxembourg - 0.7%
Acergy SA (d)	91,700		1,967,882
ArcelorMittal SA (France)	468,828		35,593,868
Millicom International Cellular SA unit (a)	14,675		1,608,435
Oriflame Cosmetics SA unit	18,917		1,264,049
SES SA FDR (France) unit	58,898		1,455,600
Stolt-Nielsen SA	12,300		302,099
TOTAL LUXEMBOURG			42,191,933
Netherlands - 2.8%
Aegon NV	732,242		10,934,541
Akzo Nobel NV	136,800		9,945,360
ASML Holding NV (Netherlands)	193,454		4,658,372
Corio NV	20,166		1,868,914
Corporate Express	64,853		767,913
EADS NV (d)	159,292		4,176,883
	Shares		Value
Fugro NV (Certificaten Van Aandelen) unit	29,776		$ 2,246,174
Hagemeyer NV (d)	140,000		1,020,170
Heineken Holding NV (A Shares)	32,583		1,656,409
Heineken NV (Bearer)	123,188		6,947,175
ING Groep NV (Certificaten Van Aandelen)	936,772		31,203,875
James Hardie Industries NV unit	232,144		1,274,188
Koninklijke Ahold NV	624,277		8,084,387
Koninklijke KPN NV	926,360		17,486,197
Koninklijke Philips Electronics NV	574,358		22,354,013
Oce NV	37,860		702,066
QIAGEN NV (a)(d)	40,244		900,679
Randstad Holdings NV (d)	24,785		941,496
Reed Elsevier NV	296,005		5,498,657
Royal DSM NV	66,529		2,927,413
SBM Offshore NV	64,633		2,083,502
STMicroelectronics NV	323,877		3,883,285
TNT NV	189,621		7,467,004
TomTom Group BV (a)	29,221		1,369,248
Unilever NV (Certificaten Van Aandelen)	846,186		26,162,534
Vedior NV (Certificaten Van Aandelen)	86,775		2,173,262
Wereldhave NV	9,290		1,122,845
Wolters Kluwer NV (Certificaten Van Aandelen)	143,745		3,717,537
TOTAL NETHERLANDS			183,574,099
New Zealand - 0.1%
Auckland International Airport Ltd.	339,479		672,895
Contact Energy Ltd. (a)	185,189		1,167,817
Fisher & Paykel Appliances Holdings Ltd.	57,025		117,589
Fisher & Paykel Healthcare Corp.	128,247		270,604
Fletcher Building Ltd.	275,902		2,114,736
Kiwi Income Property Trust	488,687		484,323
Sky City Entertainment Group Ltd.	249,621		790,058
Sky Network Television Ltd.	55,207		221,503
Telecom Corp. of New Zealand Ltd.	886,478		2,703,758
Vector Ltd.	122,841		182,616
TOTAL NEW ZEALAND			8,725,899
Norway - 0.9%
Aker Kvaerner ASA	81,950		1,946,924
Det Norske Oljeselskap ASA (DNO) (A Shares) (a)(d)	378,600		489,245
DnB Nor ASA	353,759		5,174,495
Independent Tankers Corp. Ltd. (a)	5,060		15,528
Norsk Hydro ASA	331,130		4,668,933
Ocean RIG ASA (a)(d)	92,700		708,449
Orkla ASA (A Shares)	399,745		4,969,092
Petroleum Geo-Services ASA	77,150		1,850,643
ProSafe ASA	81,200		1,390,804
Renewable Energy Corp. AS (a)	81,600		1,995,695
Schibsted ASA (B Shares)	22,050		693,839
StatoilHydro ASA	614,731		18,731,120
Storebrand ASA (A Shares) (d)	179,967		1,392,158
Common Stocks - continued
	Shares		Value
Norway - continued
TANDBERG ASA	52,650		$ 769,321
Telenor ASA	400,808		8,206,975
TGS Nopec Geophysical Co. ASA (a)(d)	43,700		645,225
Tomra Systems AS (d)	81,500		554,664
Yara International ASA	91,017		5,081,913
TOTAL NORWAY			59,285,023
Portugal - 0.3%
Banco Comercial Portugues SA (Reg.) (d)	992,677		2,859,441
Banco Espirito Santo SA (BES) (Reg.)	106,143		1,913,113
BPI-SGPS SA (d)	153,390		734,399
Brisa Auto-Estradas de Portugal SA	166,305		2,505,574
Cimpor-Cimentos de Portugal SGPS SA	90,960		758,567
Energias de Portugal SA	988,937		5,782,515
Jeronimo Martins SGPS SA	115,994		853,834
Portugal Telecom SGPS SA (Reg.)	379,825		4,847,503
Sonae Industria SGPS SA (a)	40,542		290,905
Sonae SGPS SA	351,130		638,123
ZON MULTIMEDIA - Servicos de Telecomunicacoes e Multimedia, SGPS, S.A. (d)	100,950		1,251,730
TOTAL PORTUGAL			22,435,704
Singapore - 1.1%
Allgreen Properties Ltd.	393,000		353,251
Ascendas Real Estate Investment Trust (A-REIT)	379,100		599,256
CapitaCommercial Trust (REIT)	429,000		622,923
CapitaLand Ltd.	900,000		3,976,813
CapitaMall Trust	560,000		1,284,522
City Developments Ltd.	231,000		1,939,007
ComfortDelgro Corp. Ltd.	1,139,784		1,274,964
Cosco Corp. Singapore Ltd.	462,000		1,310,879
DBS Group Holdings Ltd.	573,361		6,981,480
Fraser & Neave Ltd.	402,150		1,385,022
Haw Par Corp. Ltd.	7,000		31,402
Jardine Cycle & Carriage Ltd.	56,800		856,163
Keppel Corp. Ltd.	523,000		3,941,442
Keppel Land Ltd.	191,000		793,674
Neptune Orient Lines Ltd.	230,000		502,703
Olam International Ltd.	218,000		396,679
Oversea-Chinese Banking Corp. Ltd.	1,213,968		6,549,738
Parkway Holdings Ltd.	298,202		644,971
SembCorp Industries Ltd.	411,130		1,382,556
SembCorp Marine Ltd.	373,800		957,442
Singapore Airlines Ltd.	293,425		3,183,214
Singapore Exchange Ltd.	422,000		2,455,820
Singapore Land Ltd.	38,000		189,478
Singapore Petroleum Co. Ltd.	97,000		474,184
Singapore Post Ltd.	815,000		646,564
Singapore Press Holdings Ltd.	817,021		2,546,273
Singapore Technologies Engineering Ltd.	662,161		1,601,299
Singapore Telecommunications Ltd.	3,962,827		10,723,941
	Shares		Value
SMRT Corp. Ltd.	119,000		$ 148,299
United Overseas Bank Ltd.	596,846		7,568,722
Uol Group Ltd.	283,984		776,451
Venture Corp. Ltd.	107,808		777,427
Wilmar International Ltd.	198,000		613,040
Wing Tai Holdings Ltd.	301,748		455,307
Yanlord Land Group Ltd.	120,000		214,165
TOTAL SINGAPORE			68,159,071
Spain - 4.0%
Abertis Infraestructuras SA	109,118		3,443,119
Acerinox SA	77,561		1,945,939
Actividades de Construccion y Servicios SA (ACS)	111,168		5,677,230
Antena 3 Television SA	45,397		624,804
Banco Bilbao Vizcaya Argentaria SA	1,843,291		37,805,898
Banco de Sabadell SA (d)	206,344		1,900,533
Banco Popular Espanol SA (Reg.)	367,675		5,757,506
Banco Santander SA	3,116,938		55,419,158
Bankinter SA	49,729		733,735
Cintra Concesiones de Infrastructuras de Transporte SA	102,758		1,629,656
Corporacion Mapfre SA (Reg.)	279,642		1,260,773
Criteria CaixaCorp, S.A.	327,848		2,269,390
Enagas SA	71,971		2,164,561
Fomento Construcciones y Contratas SA (FOCSA)	22,033		1,328,398
Gamesa Corporacion Tecnologica, SA	81,098		3,302,957
Gas Natural SDG SA Series E	60,438		3,661,792
Gestevision Telecinco SA	44,817		953,717
Grupo Acciona SA	13,291		3,376,089
Grupo Ferrovial SA	29,087		1,903,339
Iberdrola SA	1,850,470		26,723,347
Iberdrola SA	400,000		2,489,520
Iberia Lineas Aereas de Espana SA	226,270		812,417
Inditex SA	104,072		5,364,759
Indra Sistemas SA	57,627		1,601,415
Promotora de Informaciones SA (PRISA)	43,982		611,382
Red Electrica de Espana SA	46,435		2,896,775
Repsol YPF SA	386,928		13,352,885
Sogecable SA (a)	22,433		941,072
Telefonica SA	2,140,028		61,875,343
Union Fenosa SA	51,795		3,412,393
Vallehermoso SA (d)	37,575		1,139,723
Zardoya Otis SA	50,546		1,258,977
Zeltia SA	76,948		510,419
TOTAL SPAIN			258,149,021
Sweden - 2.2%
AB Volvo:
(A Shares)	233,200		3,446,396
(B Shares)	510,310		7,603,619
Alfa Laval AB	44,750		2,403,083
Assa Abloy AB (B Shares)	138,643		2,482,667
Common Stocks - continued
	Shares		Value
Sweden - continued
Atlas Copco AB:
(A Shares)	304,760		$ 4,736,644
(B Shares)	186,310		2,649,201
Axfood AB	10,950		381,172
Billerud AB	11,700		132,761
Boliden AB	127,650		1,459,772
Castellum AB	71,000		868,465
D. Carnegie & Co. AB	39,790		683,257
Electrolux AB (B Shares)	112,369		1,803,033
Elekta AB (B Shares)	47,394		864,923
Eniro AB	63,515		478,410
Fabege AB	65,330		714,866
Getinge AB:
rights 3/14/08 (a)	64,000		24,652
(B Shares)	64,000		1,627,872
H&M Hennes & Mauritz AB (B Shares)	237,471		13,319,737
Hoganas AB (A Shares)	5,600		119,594
Holmen AB (B Shares)	28,800		989,845
Husqvarna AB (B Shares)	126,469		1,375,973
Investor AB (B Shares)	127,400		2,694,908
Kungsleden AB	53,810		637,716
Lundin Petroleum AB (a)(d)	113,400		1,476,775
Modern Times Group MTG AB (B Shares)	25,800		1,686,286
Nobia AB	52,950		449,100
Nordea Bank AB	1,020,473		15,344,783
Sandvik AB	468,030		7,892,168
Scania AB (B Shares)	171,216		4,130,784
Securitas AB (B Shares)	147,608		1,776,294
Securitas Direct AB (a)	176,508		753,319
Securitas Systems AB	192,008		495,717
Skandinaviska Enskilda Banken AB (A Shares)	215,975		5,381,080
Skanska AB (B Shares)	186,469		3,593,257
SKF AB (B Shares)	191,400		3,520,293
SSAB Svenskt Stal AB:
(A Shares)	89,246		2,498,988
(B Shares)	43,508		1,105,180
Svenska Cellulosa AB (SCA) (B Shares)	272,012		4,465,145
Svenska Handelsbanken AB (A Shares)	223,964		6,239,579
Swedbank AB (A Shares)	76,200		2,059,590
Swedish Match Co.	121,750		2,837,670
TELE2 AB (B Shares)	144,559		2,540,961
Telefonaktiebolaget LM Ericsson (B Shares)	7,325,573		15,749,982
TeliaSonera AB	1,049,135		8,358,437
Trelleborg AB (B Shares)	31,000		554,917
Wihlborgs Fastigheter AB	15,506		329,603
TOTAL SWEDEN			144,738,474
Switzerland - 6.8%
ABB Ltd. (Reg.)	1,088,773		27,129,934
Actelion Ltd. (Reg.) (a)	48,176		2,511,613
Adecco SA (Reg.)	67,424		3,528,638
	Shares		Value
Ciba Specialty Chemicals, Inc.	35,721		$ 1,429,065
Compagnie Financiere Richemont unit	259,829		15,043,327
Credit Suisse Group (Reg.)	518,858		25,382,533
EFG International	29,984		1,007,457
Geberit AG (Reg.)	21,019		3,092,804
Givaudan AG	3,559		3,568,945
Holcim Ltd. (Reg.)	101,269		10,328,310
Julius Baer Holding AG	50,800		3,750,945
Kudelski SA (Bearer) (d)	17,490		229,558
Kuehne & Nagel International AG	29,887		2,896,374
Kuoni Reisen Holding AG Class B (Reg.)	1,983		929,844
Lindt & Spruengli AG (participation certificate)	496		1,651,967
Logitech International SA (Reg.) (a)	79,329		2,029,236
Lonza Group AG	23,527		3,100,013
Nestle SA (Reg.)	195,485		93,050,860
Nobel Biocare Holding AG (Switzerland)	12,403		3,000,020
Novartis AG (Reg.)	1,155,832		56,809,143
Oc Oerlikon Corp. AG (Reg.) (a)	3,613		1,166,782
Pargesa Holding SA	9,586		978,354
PSP Swiss Property AG	26,119		1,600,635
Rieter Holding AG (Reg.)	2,512		1,013,466
Roche Holding AG (participation certificate)	349,835		68,707,594
Schindler Holding AG (participation certificate)	25,748		1,761,037
SGS Societe Generale de Surveillance Holding SA (Reg.)	2,404		3,229,354
Sonova Holding AG	22,105		2,095,083
Straumann Holding AG	4,411		1,295,064
Sulzer AG (Reg.)	1,590		1,825,490
Swiss Life Holding	16,309		4,088,656
Swiss Reinsurance Co. (Reg.)	176,574		14,155,057
Swisscom AG (Reg.)	11,943		4,543,021
Syngenta AG (Switzerland)	52,031		14,912,085
The Swatch Group AG:
(Bearer)	15,468		4,540,898
(Reg.)	28,374		1,616,427
UBS AG (Reg.)	1,036,824		33,530,888
Zurich Financial Services AG (Reg.)	72,176		22,566,271
TOTAL SWITZERLAND			444,096,748
United Kingdom - 21.1%
3i Group plc	191,188		3,089,859
Aggreko PLC	133,957		1,554,786
Alliance & Leicester PLC	67,594		749,641
AMEC PLC	157,587		2,403,833
Anglo American PLC (United Kingdom)	654,897		41,567,472
Antofagasta PLC	71,748		1,143,513
ARM Holdings PLC	619,907		1,108,444
Arriva PLC	89,404		1,203,722
Associated British Foods PLC	67,472		1,130,537
AstraZeneca PLC (United Kingdom)	718,264		27,028,274
Aviva PLC	1,264,957		15,246,684
Common Stocks - continued
	Shares		Value
United Kingdom - continued
BAE Systems PLC	1,750,698		$ 16,664,462
Balfour Beatty PLC	217,283		1,906,528
Barclays PLC	3,367,318		31,627,534
Barratt Developments PLC	154,233		1,247,797
BBA Aviation plc	224,537		816,965
Berkeley Group Holdings PLC unit	44,096		907,167
BG Group PLC	1,633,354		37,942,812
BHP Billiton PLC	1,127,975		36,083,188
Biffa PLC	141,286		969,687
Bovis Homes Group PLC	57,384		659,719
BP PLC	9,421,219		101,859,089
British Airways PLC (a)	297,921		1,510,143
British American Tobacco PLC	742,573		27,969,012
British Energy Group PLC	492,539		5,486,826
British Land Co. PLC	246,148		4,617,244
British Sky Broadcasting Group PLC (BSkyB)	558,040		6,261,410
Brixton PLC	104,690		675,996
BT Group PLC	3,908,551		17,694,010
Bunzl PLC	154,773		2,127,008
Burberry Group PLC	189,626		1,574,625
Cable & Wireless PLC	1,170,934		4,090,993
Cadbury Schweppes PLC	1,003,097		11,165,380
Capita Group PLC	263,841		3,418,595
Carnival PLC	83,844		3,300,938
Carphone Warehouse Group PLC (d)	188,870		1,144,461
Cattles PLC	171,925		791,708
Centrica PLC	1,780,183		11,365,690
Charter PLC (a)	75,783		1,235,282
Close Brothers Group PLC	59,180		768,597
Cobham PLC	515,122		1,853,109
Compass Group PLC	931,475		6,003,837
Cookson Group PLC	97,695		1,149,840
CSR PLC (a)	51,632		325,885
Daily Mail & General Trust PLC Class A	135,278		1,250,641
Davis Service Group PLC	72,669		719,119
De La Rue PLC	63,429		1,134,698
Diageo PLC	1,250,071		25,657,707
DSG International PLC	928,135		1,160,182
Electrocomponents PLC	218,031		758,786
EMAP PLC	89,658		1,636,747
Enterprise Inns PLC	251,870		2,067,829
Eurasian Natural Resources Corp. PLC	160,035		3,275,292
Experian Group Ltd.	468,885		3,941,560
FirstGroup PLC	197,041		2,249,538
FKI PLC	239,508		344,404
Friends Provident PLC	952,559		2,508,551
G4S PLC (United Kingdom)	549,927		2,371,594
Galiform PLC (a)	237,595		386,682
Genting International PLC 12/01/07 (a)	1,066,000		470,979
GKN PLC	330,576		1,722,522
GlaxoSmithKline PLC	2,730,709		59,952,716
	Shares		Value
Great Portland Estates PLC	91,302		$ 901,453
Hammerson PLC	134,918		2,941,763
Hays PLC	685,763		1,474,307
HBOS plc	1,811,154		21,521,413
Home Retail Group PLC	395,552		2,020,458
HSBC Holdings PLC (United Kingdom) (Reg.)	5,822,006		87,621,191
Icap PLC	239,491		2,981,945
IMI PLC	151,824		1,161,689
Imperial Tobacco Group PLC	342,601		15,859,402
Inchcape PLC	187,424		1,448,192
InterContinental Hotel Group PLC	132,108		2,010,646
International Power PLC	740,678		5,564,453
Intertek Group PLC	35,447		628,767
Invensys PLC (a)	371,615		1,879,740
Investec PLC	167,230		1,215,480
ITV PLC	1,895,460		2,505,306
J Sainsbury PLC	740,209		5,189,448
Johnson Matthey PLC	107,772		4,143,174
Kazakhmys PLC	61,759		1,881,176
Kesa Electricals PLC	251,985		1,064,526
Kingfisher PLC	1,037,088		2,677,074
Land Securities Group PLC	228,290		7,117,376
Legal & General Group PLC	3,201,296		7,875,994
Liberty International PLC	119,421		2,270,531
Lloyds TSB Group PLC	2,760,675		24,675,075
LogicaCMG PLC	718,427		1,319,619
London Stock Exchange Group PLC	65,782		1,764,008
Lonmin PLC	38,011		2,479,908
Man Group plc	833,412		9,092,223
Marks & Spencer Group PLC	797,359		6,320,414
Meggitt PLC	292,551		1,613,038
Meinl European Land Ltd. (a)	138,350		1,727,253
Misys PLC	220,416		649,097
Mitchells & Butlers PLC	184,342		1,621,925
Mondi PLC	207,093		1,597,444
National Express Group PLC Class L	60,703		1,358,001
National Grid PLC	1,278,011		18,530,521
NEXT plc	109,719		2,782,608
Old Mutual plc	2,466,918		6,093,312
Pearson PLC	400,743		5,269,837
Persimmon PLC	126,075		1,831,720
Premier Farnell PLC	200,925		593,962
Prudential PLC	1,224,815		14,695,378
Punch Taverns Ltd.	133,525		1,699,587
Rank Group PLC	158,895		283,115
Reckitt Benckiser Group PLC	294,883		15,905,933
Reed Elsevier PLC	536,964		6,758,014
Rentokil Initial PLC	803,537		1,323,525
Resolution PLC	309,165		4,233,123
Reuters Group PLC	634,584		7,493,379
Rexam PLC	275,987		2,402,549
Rio Tinto PLC (Reg.)	494,211		56,148,547
Rolls-Royce Group PLC	925,484		7,933,697
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Royal & Sun Alliance Insurance Group PLC	1,629,536		$ 4,248,012
Royal Bank of Scotland Group PLC	4,998,631		37,791,332
Royal Dutch Shell PLC:
Class A (United Kingdom)	1,781,019		63,681,234
Class B	1,376,432		48,202,649
SABMiller plc	462,839		9,696,477
Sage Group PLC	614,858		2,396,919
Schroders PLC	55,623		1,050,179
Scottish & Newcastle PLC	366,295		5,729,306
Scottish & Southern Energy PLC	403,144		11,787,924
Segro PLC	231,621		2,368,104
Serco Group PLC	225,139		1,935,234
Severn Trent PLC	97,710		2,742,601
Shire PLC	138,848		2,704,759
Signet Group PLC	736,184		887,501
Smith & Nephew PLC	436,355		5,705,778
Smiths Group PLC	195,901		3,848,129
SSL International PLC	94,900		916,269
Stagecoach Group PLC	230,197		1,141,725
Standard Chartered PLC (United Kingdom)	358,361		11,806,317
Standard Life PLC	1,034,431		4,471,363
Tate & Lyle PLC	232,395		2,406,302
Taylor Wimpey PLC	576,812		1,951,792
Tesco PLC	3,877,728		30,642,542
Thomas Cook Group PLC	240,632		1,456,015
Tomkins PLC	436,436		1,463,256
Travis Perkins PLC	44,684		955,216
Trinity Mirror PLC	109,981		617,979
TUI Travel PLC (a)	257,716		1,374,320
Tullett Prebon PLC	85,395		851,455
Tullow Oil PLC	320,560		3,973,674
Unilever PLC	633,516		19,943,084
United Business Media PLC	140,213		1,477,138
United Utilities PLC	394,224		5,430,436
Vedanta Resources PLC	32,934		1,416,826
Vodafone Group PLC	26,418,793		85,147,771
Whitbread PLC	94,579		2,366,530
William Hill PLC	156,477		1,163,788
William Morrison Supermarkets PLC	593,301		3,477,870
Wolseley PLC	296,658		3,619,228
WPP Group plc	550,321		6,556,524
Xstrata PLC	314,022		24,496,375
Yell Group PLC	354,628		1,529,745
TOTAL UNITED KINGDOM			1,370,633,843
United States of America - 0.1%
Synthes, Inc.	31,723		4,446,351
TOTAL COMMON STOCKS (Cost $5,745,578,165)		6,208,627,793
Nonconvertible Preferred Stocks - 0.5%
	Shares		Value
Germany - 0.4%
Bayerische Motoren Werke AG (BMW) (non-vtg.)	5,230		$ 241,909
Fresenius AG (non-vtg.)	19,037		1,606,589
Henkel KGaA	89,165		3,945,737
Porsche Automobil Holding SE	4,442		7,612,755
ProSiebenSat.1 Media AG	35,935		774,462
RWE AG (non-vtg.)	21,813		2,193,840
Volkswagen AG	52,942		7,366,492
TOTAL GERMANY			23,741,784
Italy - 0.1%
Intesa Sanpaolo SpA	494,288		3,139,380
Istituto Finanziario Industriale SpA (IFI) (a)	18,301		517,037
Italcementi SpA Risp (non-vtg.)	18,315		278,513
Telecom Italia SpA (Risp)	2,932,536		5,657,614
UNIPOL Assicurazioni SpA	307,293		810,182
TOTAL ITALY			10,402,726
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $29,003,878)		34,144,510

Government Obligations - 0.4%
	Principal Amount
United States of America - 0.4%
U.S. Treasury Bills, yield at date of purchase 2.01% to 3.21% 3/27/08 (e) (Cost $25,942,880)	$ 26,000,000	25,964,640

Money Market Funds - 6.0%
	Shares		Value
Fidelity Cash Central Fund, 3.24% (b)	286,024,788		$ 286,024,788
Fidelity Securities Lending Cash Central Fund, 3.25% (b)(c)	101,326,124		101,326,124
TOTAL MONEY MARKET FUNDS (Cost $387,350,912)		387,350,912

TOTAL INVESTMENT PORTFOLIO - 102.5% (Cost $6,187,875,835) 6,656,087,855

NET OTHER ASSETS - (2.5)%		(161,239,912)
NET ASSETS - 100%	$ 6,494,847,943

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
219 CAC 40 10 Euro Index Contracts (France)	March 2008	$ 15,948,905	$ 228,055
54 DAX 30 Index Contracts (Germany)	March 2008	13,829,701	(1,913,433)
702 Dow Jones Euro Stoxx 50 Index Contracts (Germany)	March 2008	39,652,316	(4,314,923)
582 FTSE 100 Index Contracts (United Kingdom)	March 2008	67,443,231	(3,158,242)
35 Hang Seng Index Contracts (Hong Kong)	March 2008	5,444,819	122,129
35 IBEX 35 Index Contracts (Spain)	March 2008	7,015,816	119,264
49 MSCI Index Contracts (Singapore)	March 2008	2,617,409	(56,208)
10 Nikkei 225 Index Contracts (Japan)	March 2008	665,250	7,950
453 OMX Stockholm 30 Index Contracts (Sweden)	March 2008	7,111,760	64,476
23 S&P/MIB Index Contracts (Italy)	March 2008	5,877,248	(679,627)
145 SPI 200 Index Contracts (Australia)	March 2008	18,788,898	(1,347,088)
480 TOPIX 150 Index Contracts (Japan)	March 2008	61,010,688	(4,937,726)
TOTAL EQUITY INDEX CONTRACTS		$ 245,406,041	$ (15,865,373)

The face value of futures purchased as a percentage of net assets - 3.8%

Forward Foreign Currency Contracts
	Settlement Dates	Value	Unrealized Appreciation/ (Depreciation)
Contracts to Buy
20,049,000 AUD	March 2008	$ 18,638,503	$ 1,150,099
55,014,000 EUR	March 2008	83,470,114	3,015,823
34,211,000 GBP	March 2008	67,901,271	929,867
6,470,000,000 JPY	March 2008	62,348,479	1,716,497
42,346,000 SEK	March 2008	6,863,064	303,437
		$ 239,221,431	$ 7,115,723

(Payable Amount $232,105,708)

The value of contracts to buy as a percentage of net assets - 3.7%

Currency Abbreviations
AUD	-	Australian dollar
EUR	-	European Monetary Unit
GBP	-	British pound
JPY	-	Japanese yen
SEK	-	Swedish krona

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $25,764,912.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 8,479,772
Fidelity Securities Lending Cash Central Fund	1,715,493
Total	$ 10,195,265

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan International Index Fund

Financial Statements

Statement of Assets and Liabilities

	February 29, 2008
Assets
Investment in securities, at value (including securities loaned of $95,881,532) - See accompanying schedule: Unaffiliated issuers (cost $5,800,524,923)	$ 6,268,736,943
Fidelity Central Funds (cost $387,350,912)	387,350,912
Total Investments (cost $6,187,875,835)		$ 6,656,087,855
Cash		801,972
Foreign currency held at value (cost $12,496,094)		12,819,036
Receivable for investments sold		2,439,582
Unrealized appreciation on foreign currency contracts		7,115,723
Receivable for closed foreign currency contracts		1,771,180
Receivable for fund shares sold		12,055,444
Dividends receivable		11,842,927
Distributions receivable from Fidelity Central Funds		772,229
Receivable from investment adviser for expense reductions		532,295
Other receivables		163,440
Total assets		6,706,401,683
Liabilities
Payable for investments purchased	$ 95,500,747
Payable for fund shares redeemed	7,773,541
Accrued management fee	906,845
Payable for daily variation on futures contracts	5,923,396
Other affiliated payables	123,087
Collateral on securities loaned, at value	101,326,124
Total liabilities		211,553,740
Net Assets		$ 6,494,847,943
Net Assets consist of:
Paid in capital		$ 6,057,007,557
Undistributed net investment income		27,525,277
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		(49,759,531)
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		460,074,640
Net Assets		$ 6,494,847,943
Investor Class: Net Asset Value, offering price and redemption price per share ($4,515,417,153 ÷ 104,451,897 shares)		$ 43.23
Fidelity Advantage Class: Net Asset Value, offering price and redemption price per share ($1,979,430,790 ÷ 45,786,268 shares)		$ 43.23

Statement of Operations

	Year ended February 29, 2008
Investment Income
Dividends		$ 190,330,656
Interest		1,065,803
Income from Fidelity Central Funds (including $1,715,493 from security lending)		10,195,265
		201,591,724
Less foreign taxes withheld		(13,385,408)
Total income		188,206,316
Expenses
Management fee	$ 10,516,277
Transfer agent fees	1,309,254
Independent trustees' compensation	22,119
Interest	10,215
Miscellaneous	13,464
Total expenses before reductions	11,871,329
Expense reductions	(6,413,246)	5,458,083
Net investment income (loss)		182,748,233
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	54,344,436
Foreign currency transactions	12,088,946
Futures contracts	(21,570,391)
Total net realized gain (loss)		44,862,991
Change in net unrealized appreciation (depreciation) on: Investment securities	(364,543,600)
Assets and liabilities in foreign currencies	7,348,032
Futures contracts	(16,073,412)
Total change in net unrealized appreciation (depreciation)		(373,268,980)
Net gain (loss)		(328,405,989)
Net increase (decrease) in net assets resulting from operations		$ (145,657,756)

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan International Index Fund
Financial Statements - continued

Statement of Changes in Net Assets

	Year ended February 29, 2008	Year ended February 28, 2007
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 182,748,233	$ 74,468,595
Net realized gain (loss)	44,862,991	19,412,890
Change in net unrealized appreciation (depreciation)	(373,268,980)	487,247,960
Net increase (decrease) in net assets resulting from operations	(145,657,756)	581,129,445
Distributions to shareholders from net investment income	(164,851,937)	(69,190,968)
Distributions to shareholders from net realized gain	(50,691,543)	(6,955,306)
Total distributions	(215,543,480)	(76,146,274)
Share transactions - net increase (decrease)	2,082,070,992	2,231,762,509
Redemption fees	1,145,389	508,726
Total increase (decrease) in net assets	1,722,015,145	2,737,254,406
Net Assets
Beginning of period	4,772,832,798	2,035,578,392
End of period (including undistributed net investment income of $27,525,277 and undistributed net investment income of $10,992,689, respectively)	$ 6,494,847,943	$ 4,772,832,798

Financial Highlights - Investor Class

Years ended February 28,	2008 F	2007	2006	2005	2004 F
Selected Per-Share Data
Net asset value, beginning of period	$ 44.73	$ 37.60	$ 32.69	$ 28.41	$ 18.91
Income from Investment Operations
Net investment income (loss) B	1.39	1.03	.85	.64	.47
Net realized and unrealized gain (loss)	(1.35)	7.00	4.72	4.25	9.57
Total from investment operations	.04	8.03	5.57	4.89	10.04
Distributions from net investment income	(1.19)	(.83)	(.60)	(.55)	(.55)
Distributions from net realized gain	(.36)	(.08)	(.07)	(.07)	-
Total distributions	(1.55)	(.91)	(.67)	(.62)	(.55)
Redemption fees added to paid in capital B	.01	.01	.01	.01	.01
Net asset value, end of period	$ 43.23	$ 44.73	$ 37.60	$ 32.69	$ 28.41
Total Return A	(.15)%	21.48%	17.23%	17.41%	53.55%
Ratios to Average Net Assets C,E
Expenses before reductions	.20%	.20%	.20%	.58%	.60%
Expenses net of fee waivers, if any	.10%	.10%	.10%	.25%	.47%
Expenses net of all reductions	.10%	.10%	.10%	.25%	.47%
Net investment income (loss)	2.95%	2.48%	2.54%	2.19%	1.99%
Supplemental Data
Net assets, end of period (000 omitted)	$ 4,515,417	$ 3,398,352	$ 1,440,236	$ 1,180,981	$ 556,578
Portfolio turnover rate D	4%	2%	2%	6%	31%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^D Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

^F For the year ended February 29.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Class

Years ended February 28,	2008 I	2007	2006 G
Selected Per-Share Data
Net asset value, beginning of period	$ 44.73	$ 37.61	$ 33.92
Income from Investment Operations
Net investment income (loss) D	1.41	1.04	.18
Net realized and unrealized gain (loss)	(1.36)	6.99	4.03
Total from investment operations	.05	8.03	4.21
Distributions from net investment income	(1.20)	(.84)	(.52)
Distributions from net realized gain	(.36)	(.08)	-
Total distributions	(1.56)	(.92)	(.52)
Redemption fees added to paid in capital D	.01	.01	- J
Net asset value, end of period	$ 43.23	$ 44.73	$ 37.61
Total Return B,C	(.12)%	21.49%	12.49%
Ratios to Average Net Assets E,H
Expenses before reductions	.17%	.17%	.17% A
Expenses net of fee waivers, if any	.07%	.07%	.07% A
Expenses net of all reductions	.07%	.07%	.07% A
Net investment income (loss)	2.97%	2.51%	1.35% A
Supplemental Data
Net assets, end of period (000 omitted)	$ 1,979,431	$ 1,374,481	$ 595,342
Portfolio turnover rate F	4%	2%	2%

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G For the period October 14, 2005 (commencement of sale of shares) to February 28, 2006.

^H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

^I For the year ended February 29.

^J Amount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Notes to Financial Statements

For the period ended February 29, 2008

1. Organization.

Spartan Total Market Index Fund, Spartan Extended Market Index Fund and Spartan International Index Fund (the Funds) are funds of Fidelity Concord Street Trust (the trust). The trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. Each Fund is authorized to issue an unlimited number of shares. Each Fund offers Investor Class and Fidelity Advantage Class shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Each Fund offers conversion privileges between share classes within each Fund to eligible shareholders. Investment income, realized and unrealized capital gains and losses, the common expenses of each Fund, and certain fund-level expense reductions, if any, are allocated on a pro rata basis to each class based on the relative net assets of each class to the total net assets of each Fund. Each class differs with respect to transfer agent fees incurred and certain class-level expense reductions.

2. Investments in Fidelity Central Funds.

The Funds may invest in Fidelity Central Funds, which are open-end investment companies available only to other investment companies and accounts managed by Fidelity Management & Research Company (FMR) and its affiliates. The Funds' Schedules of Investments list each of the Fidelity Central Funds as an investment of each Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Funds indirectly bear their proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of FMR.

A complete list of holdings for each Fidelity Central Fund is available upon request or at the SEC's web site at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Funds' Report of Independent Registered Public Accounting Firm, are available on the SEC's web site or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The following summarizes the significant accounting policies of the Funds:

Security Valuation. Investments are valued and net asset value (NAV) per share is calculated (NAV calculation) as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Wherever possible, each Fund uses independent pricing services approved by the Board of Trustees to value their investments.

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent pricing service on the primary market or exchange on which they are traded. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value.

When current market prices or quotations are not readily available or do not accurately reflect fair value, valuations may be determined in accordance with procedures adopted by the Board of Trustees. For example, when developments occur between the close of a market and the close of the NYSE that may materially affect the value of some or all of the securities, or when trading in a security is halted, those securities may be fair valued. Factors used in the determination of fair value may include monitoring news to identify significant market or security specific events such as changes in the value of U.S. securities markets, reviewing developments in foreign markets and evaluating the performance of ADRs, futures contracts and exchange-traded funds. Because each Fund's utilization of fair value pricing depends on market activity, the frequency with which fair value pricing is used cannot be predicted and may be utilized to a significant extent. The value of securities used for NAV calculation under fair value pricing may differ from published prices for the same securities.

Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rate at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Annual Report

3. Significant Accounting Policies - continued

Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV for processing shareholder transactions includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Funds estimate the components of distributions received that may be considered return of capital distributions or capital gain distributions. Interest income and distributions from the Fidelity Central Funds are accrued as earned. Interest income includes coupon interest and amortization of premium and accretion of discount on debt securities. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Expenses. Most expenses of the trust can be directly attributed to a fund. Expenses which cannot be directly attributed are apportioned among each Fund in the trust. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company by distributing substantially all of its taxable income and realized gains under Subchapter M of the Internal Revenue Code and filing its U.S. federal tax return. As a result, no provision for income taxes is required. Each Fund adopted the provisions of FASB Interpretation No. 48, Accounting for Uncertainties in Income Taxes (FIN 48), on June 29, 2007. FIN 48 sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. The implementation of FIN 48 did not result in any unrecognized tax benefits in the accompanying financial statements. Each of the Funds' federal tax returns for the prior three fiscal years remains subject to examination by the Internal Revenue Service. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. In addition, certain Funds will claim a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. For Spartan Total Market Index and Spartan Extended Market Index, certain adjustments have been made to the accounts relating to prior periods. Collectively, these adjustments have no impact on the Funds' net assets or the results of operations. Temporary book-tax differences will reverse in a subsequent period.

Book-tax differences are primarily due to futures transactions, swap agreements, foreign currency transactions, passive foreign investment companies (PFIC), market discount, partnerships, capital loss carryforwards, losses deferred due to wash sales, and excise tax regulations.

The tax-basis components of distributable earnings and the federal tax cost as of period end were as follows for each Fund:

	Cost for Federal Income Tax Purposes	Unrealized Appreciation	Unrealized Depreciation	Net Unrealized Appreciation/ (Depreciation)
Spartan Total Market Index	$ 7,952,176,920	$ 1,446,701,341	$ (1,094,275,468)	$ 352,425,873
Spartan Extended Market Index	3,457,118,307	714,617,255	(603,254,214)	111,363,041
Spartan International Index	6,232,861,353	1,065,815,616	(642,589,114)	423,226,502

	Undistributed Ordinary Income	Undistributed Long-term Capital Gain	Capital Loss Carryforward
Spartan Total Market Index	$ 23,055,888	$ -	$ -
Spartan Extended Market Index	5,870,341	39,527,768	-
Spartan International Index	8,008,290	-	-

The tax character of distributions paid was as follows:

February 29, 2008	Ordinary Income	Long-term Capital Gains	Tax Return of Capital	Total
Spartan Total Market Index	$ 135,573,997	$ 42,531,465	$ -	$ 178,105,462
Spartan Extended Market Index	48,189,966	141,783,205	-	189,973,171
Spartan International Index	181,749,118	33,794,362	-	215,543,480

Annual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

February 28, 2007	Ordinary Income	Long-term Capital Gains	Tax Return of Capital	Total
Spartan Total Market Index	$ 74,441,874	$ -	$ -	$ 74,441,874
Spartan Extended Market Index	36,794,966	63,459,918	-	100,254,884
Spartan International Index	76,146,274	-	-	76,146,274

Short-Term Trading (Redemption) Fees. Shares held in the Funds less than 90 days are subject to a redemption fee equal to .50%, .75% and 1.00% of the amount invested in Spartan Total Market Index, Spartan Extended Market Index and Spartan International Index, respectively. All redemption fees, including any estimated redemption fees paid by FMR, are retained by the Funds and accounted for as an addition to paid in capital.

New Accounting Pronouncements. In September 2006, Statement of Financial Accounting Standards No. 157, Fair Value Measurements (SFAS 157), was issued and is effective for fiscal years beginning after November 15, 2007. SFAS 157 defines fair value, establishes a framework for measuring fair value and results in expanded disclosures about fair value measurements.

In addition, in March 2008, Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities (SFAS 161), was issued and is effective for fiscal years beginning after November 15, 2008. SFAS 161 requires enhanced disclosures to provide information about the reasons the Funds invest in derivative instruments, the accounting treatment and the affect derivatives have on financial performance. Management is currently evaluating the impact the adoption of SFAS 161 will have on the Funds' financial statement disclosures.

4. Operating Policies.

Forward Foreign Currency Contracts. Spartan International Index Fund generally uses foreign currency contracts to facilitate transactions in foreign-denominated securities and to manage the Fund's currency exposure. Contracts to sell generally are used to hedge the Fund's investments against currency fluctuations, while contracts to buy generally are used to offset a previous contract to sell. Also, a contract to buy can be used to acquire exposure to foreign currencies and a contract to sell can be used to offset a previous contract to buy. These contracts involve market risk in excess of the unrealized gain or loss reflected in the Fund's Statement of Assets and Liabilities. The U.S. dollar value of the currencies the Fund has committed to buy or sell is shown in the Schedule of Investments under the caption "Forward Foreign Currency Contracts." This amount represents the aggregate exposure to each currency the Fund has acquired or hedged through currency contracts at period end. Losses may arise from changes in the value of foreign currency or if the counterparties do not perform under the contracts' terms.

The U.S. dollar value of forward foreign currency contracts is determined using forward currency exchange rates supplied by a quotation service. Purchases and sales of forward foreign currency contracts having the same settlement date and broker are offset and any realized gain (loss) recognized on the date of offset: otherwise, gain (loss) is recognized on settlement date.

Futures Contracts. Certain Funds may use futures contracts to manage their exposure to the stock market. Buying futures tends to increase a fund's exposure to the underlying instrument, while selling futures tends to decrease a fund's exposure to the underlying instrument or hedge other fund investments. Upon entering into a futures contract, a fund is required to deposit with a clearing broker, no later than the following business day, an amount ("initial margin") equal to a certain percentage of the face value of the contract. The initial margin may be in the form of cash or securities and is transferred to a segregated account on settlement date. Subsequent payments ("variation margin") are made or received by a fund depending on the daily fluctuations in the value of the futures contract and are accounted for as unrealized gains or losses. Realized gains (losses) are recorded upon the expiration or closing of the futures contract. Securities deposited to meet margin requirements are identified in each applicable fund's Schedule of Investments. Futures contracts involve, to varying degrees, risk of loss in excess of any futures variation margin reflected in each applicable fund's Statement of Assets and Liabilities. The underlying face amount at value of any open futures contracts at period end is shown in each applicable fund's Schedule of Investments under the caption "Futures Contracts." This amount reflects each contract's exposure to the underlying instrument at period end. Losses may arise from changes in the value of the underlying instruments or if the counterparties do not perform under the contract's terms. Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded.

Swap Agreements. Certain Funds may invest in swaps for the purpose of managing their market exposure. A swap is an agreement to exchange one payment stream for another, for a set period of time. Payments are based on a notional principal amount and are settled periodically. Total return swaps usually involve commitments to pay interest in exchange for the return of an equity security. A fund will make periodic payments based on a notional principal amount to the counterparty and will receive payments from the counterparty representing dividends of the underlying security. Periodic payments received or made by each applicable Fund are recorded in the accompanying Statement of Operations as realized gains or losses, respectively. Gains or losses are realized upon expiration or termination of the swap agreement based on the change in value of the underlying equity security.

Swaps are marked-to-market daily based on dealer-supplied valuations and changes in value are recorded as unrealized appreciation (depreciation). Collateral, in the form of cash or securities, may be required to be held in segregated accounts with a fund's custodian in compliance with swap contracts. Risks may exceed amounts recognized on each applicable Fund's Statement of Assets and Liabilities. These risks include changes in the returns

Annual Report

4. Operating Policies - continued

Swap Agreements - continued.

of the underlying instruments, failure of the counterparties to perform under the contracts' terms and the possible lack of liquidity with respect to the swap agreements. Details of swap agreements open at period end are included in each applicable Fund's Schedule of Investments under the caption "Swap Agreements."

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, are noted in the table below.

	Purchases ($)	Sales ($)
Spartan Total Market Index	2,006,397,616	296,586,786
Spartan Extended Market Index	799,563,915	530,457,488
Spartan International Index	2,053,063,942	239,945,608

6. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. FMR and its affiliates provide the Funds with investment management related services for which the Funds pay a monthly management fee. The management fee is based on an annual rate of .07%, .07% and .17% of average net assets for Spartan Total Market Index, Spartan Extended Index and Spartan International Index funds, respectively. Under the management contract, FMR pays all other fund-level expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense.

In addition, under the expense contract, FMR pays class-level expenses so that the total expenses do not exceed certain amounts of each class' average net assets with certain exceptions, as noted in the following table:

	Investor Class	Advantage Class
Spartan Total Market Index	.10%	.07%
Spartan Extended Market Index	.10%	.07%
Spartan International Market Index	.20%	.17%

Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Funds. Geode provides discretionary investment advisory services to the Funds and is paid by FMR for providing these services.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of FMR, is each Fund's transfer, dividend disbursing and shareholder servicing agent. FIIOC receives asset-based fees of .06% and .03% of average net assets for each Fund's Investor Class and Fidelity Advantage Class, respectively. Under the expense contract, each Investor Class pays transfer agent fees at an annual rate of .03%, and each Fidelity Advantage Class pays no transfer agent fees. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. Prior to January 1, 2008, Fidelity Service Company, Inc. (FSC), also an affiliate of FMR, was the Fund's transfer agent.

7. Committed Line of Credit.

Certain Funds participate with other funds managed by FMR in a $4.2 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro rata portion of the line of credit, which is reflected in Miscellaneous Expense on the Statement of Operations, and is as follows:

Spartan Total Market Index	$ 17,571
Spartan Extended Market Index	7,454
Spartan International Index	13,464

During the period, there were no borrowings on this line of credit.

8. Security Lending.

Certain Funds lend portfolio securities from time to time in order to earn additional income. On the settlement date of the loan, each applicable Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Funds and any additional required collateral is delivered to the Funds on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on each applicable Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less fees and expenses associated with the loan, plus any premium payments that may be received on the loan of certain types of securities. Security lending income is presented on each applicable Fund's Statement of Operations as a component of income from Fidelity Central Funds.

Annual Report

Notes to Financial Statements - continued

9. Bank Borrowings.

Each Fund is permitted to have bank borrowings for temporary or emergency purposes to fund shareholder redemptions. Each Fund has established borrowing arrangements with certain banks. The interest rate on the borrowings is the bank's base rate, as revised from time to time. At period end, there were no bank borrowings outstanding. Each applicable Fund's activity in this program during the period for which loans were outstanding was as follows:

	Average Daily Loan Balance	Weighted Average Interest Rate	Interest Expense
Spartan International Index	$ 81,722,000	4.50%	$ 10,215

10. Expense Reductions.

FMR voluntarily agreed to reimburse Spartan International Index to the extent annual operating expenses exceeded certain levels of average net assets as noted in the table below. Some expenses, for example interest expense, including commitment fees, are excluded from this reimbursement.

	Expense Limitations	Reimbursement from adviser
Spartan International Index
Investor Class	.10%	$ 4,383,016
Fidelity Advantage Class	.07%	1,830,104

In addition, through arrangements with each applicable Fund's custodian and transfer agent, credits realized as a result of uninvested cash balances were used to reduce each applicable Fund's expenses as noted in the table below.

	Transfer agent expense reduction	Management fee reduction
Spartan Total Market Index	$ 119,605	$ 56,975
Spartan Extended Market Index	135,845	53,335
Spartan International Index	187,569	12,557

11. Other.

The Funds' organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.

12. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

Years ended February 28,	2008A	2007
Spartan Total Market Index
From net investment income
Investor Class	$ 74,344,257	$ 43,648,865
Fidelity Advantage Class	55,153,816	30,793,009
Total	$ 129,498,073	$ 74,441,874
From net realized gain
Investor Class	$ 27,956,239	$ -
Fidelity Advantage Class	20,651,150	-
Total	$ 48,607,389	$ -
Spartan Extended Market Index
From net investment income
Investor Class	$ 26,252,571	$ 20,181,573
Fidelity Advantage Class	12,214,831	9,493,047
Total	$ 38,467,402	$ 29,674,620
From net realized gain
Investor Class	$ 104,286,345	$ 48,524,471
Fidelity Advantage Class	47,219,424	22,055,793
Total	$ 151,505,769	$ 70,580,264

Annual Report

12. Distributions to Shareholders - continued

Distributions to shareholders of each class were as follows: - continued

Years ended February 28,	2008A	2007
Spartan International Index
From net investment income
Investor Class	$ 115,354,710	$ 49,155,215
Fidelity Advantage Class	49,497,227	20,035,753
Total	$ 164,851,937	$ 69,190,968
From net realized gain
Investor Class	$ 35,526,435	$ 4,966,961
Fidelity Advantage Class	15,165,108	1,988,345
Total	$ 50,691,543	$ 6,955,306

^A For the year ended February 29.

13. Share Transactions.

Transactions for each class of shares were as follows:

	Shares		Dollars
Years ended February 28,	2008A	2007	2008A	2007
Spartan Total Market Index
Investor Class
Shares sold	54,918,745	61,659,939	$ 2,251,193,543	$ 2,385,031,078
Reinvestment of distributions	2,421,414	1,085,592	100,018,962	42,218,085
Shares redeemed	(36,440,879)	(18,335,114)	(1,494,976,909)	(695,873,695)
Net increase (decrease)	20,899,280	44,410,417	$ 856,235,596	$ 1,731,375,468
Fidelity Advantage Class
Shares sold	39,372,453	27,013,377	$ 1,619,535,263	$ 1,028,002,320
Reinvestment of distributions	1,635,804	709,350	67,573,297	27,494,213
Shares redeemed	(13,045,066)	(8,576,937)	(533,559,548)	(321,568,759)
Net increase (decrease)	27,963,191	19,145,790	$ 1,153,549,012	$ 733,927,774
Spartan Extended Market Index
Investor Class
Shares sold	23,156,773	21,662,729	$ 914,917,592	$ 822,154,397
Reinvestment of distributions	3,241,268	1,758,028	127,207,673	66,893,025
Shares redeemed	(17,433,868)	(11,799,411)	(689,478,963)	(439,720,539)
Net increase (decrease)	8,964,173	11,621,346	$ 352,646,302	$ 449,326,883
Fidelity Advantage Class
Shares sold	6,826,368	9,862,555	$ 272,420,651	$ 372,527,489
Reinvestment of distributions	1,376,973	750,569	54,041,693	28,567,756
Shares redeemed	(5,887,288)	(3,835,191)	(229,088,656)	(142,627,009)
Net increase (decrease)	2,316,053	6,777,933	$ 97,373,688	$ 258,468,236
Spartan International Index
Investor Class
Shares sold	57,660,581	50,335,556	$ 2,734,029,800	$ 2,126,472,096
Reinvestment of distributions	3,101,142	1,200,505	145,169,044	51,946,571
Shares redeemed	(32,287,251)	(13,858,952)	(1,520,129,888)	(578,762,039)
Net increase (decrease)	28,474,472	37,677,109	$ 1,359,068,956	$ 1,599,656,628
Fidelity Advantage Class
Shares sold	22,940,788	17,807,784	$ 1,089,714,624	$ 752,516,500
Reinvestment of distributions	1,199,605	441,375	56,153,298	19,084,741
Shares redeemed	(9,081,944)	(3,352,494)	(422,865,886)	(139,495,360)
Net increase (decrease)	15,058,449	14,896,665	$ 723,002,036	$ 632,105,881

^A For the year ended February 29.

Annual Report

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Concord Street Trust and the Shareholders of Spartan Total Market Index Fund, Spartan Extended Market Index Fund and Spartan International Index Fund:

In our opinion, the accompanying statements of assets and liabilities, including the schedules of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Spartan Total Market Index Fund, Spartan Extended Market Index Fund and Spartan International Index Fund (funds of Fidelity Concord Street Trust) at February 29, 2008, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Fidelity Concord Street Trust's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at February 29, 2008 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Boston, Massachusetts
April 25, 2008

Annual Report

Trustees and Officers

The Trustees, Members of the Advisory Board, and executive officers of the trust and funds, as applicable, are listed below. The Board of Trustees governs each fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee each fund's activities, review contractual arrangements with companies that provide services to each fund, and review each fund's performance. Except for James C. Curvey, each of the Trustees oversees 376 funds advised by FMR or an affiliate. Mr. Curvey oversees 371 funds advised by FMR or an affiliate.

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) (Independent Trustee), shall retire not later than the last day of the calendar year in which his or her 72nd birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. The executive officers and Advisory Board Members hold office without limit in time, except that any officer and Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.

The funds' Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544.

Interested Trustees*:

Correspondence intended for each Trustee who is an interested person may be sent to Fidelity Investments, 82 Devonshire Street, Boston, Massachusetts 02109.

Name, Age; Principal Occupation
Edward C. Johnson 3d (77)
	Year of Election or Appointment: 1987 Mr. Johnson is Chairman of the Board of Trustees. Mr. Johnson serves as President (2006-present), Chief Executive Officer, Chairman, and a Director of FMR LLC; Chairman and a Director of FMR; Chairman and a Director of Fidelity Research & Analysis Company (FRAC); Chairman and a Director of Fidelity Investments Money Management, Inc.; and Chairman (2001-present) and a Director of FMR Co., Inc. In addition, Mr. Johnson serves as Chairman and Director of FIL Limited. Mr. Edward C. Johnson 3d and Mr. Arthur E. Johnson are not related.
James C. Curvey (72)
	Year of Election or Appointment: 2007 Mr. Curvey also serves as Trustee (2007-present) or Member of the Advisory Board (2007-present) of other investment companies advised by FMR. Mr. Curvey is a Director of FMR and FMR Co., Inc. (2007-present). Mr. Curvey is also Vice Chairman (2006-present) and Director of FMR LLC. Mr. Curvey joined Fidelity in 1982 and served in numerous senior management positions, including President and Chief Operating Officer of FMR LLC (1997-2000) and President of Fidelity Strategic Investments (2000-2002). In addition, he serves as a member of the Board of Directors of Geerlings & Wade, Inc. (wine distribution).

* Trustees have been determined to be "Interested Trustees" by virtue of, among other things, their affiliation with the trust or various entities under common control with FMR. FMR Corp. merged with and into FMR LLC on October 1, 2007. Any references to FMR LLC for prior periods are deemed to be references to the prior entity.

Independent Trustees:

Correspondence intended for each Independent Trustee (that is, the Trustees other than the Interested Trustees) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Age; Principal Occupation
Dennis J. Dirks (59)
	Year of Election or Appointment: 2005 Prior to his retirement in May 2003, Mr. Dirks was Chief Operating Officer and a member of the Board of The Depository Trust & Clearing Corporation (DTCC) (1999-2003). He also served as President, Chief Operating Officer, and Board member of The Depository Trust Company (DTC) (1999-2003) and President and Board member of the National Securities Clearing Corporation (NSCC) (1999-2003). In addition, Mr. Dirks served as Chief Executive Officer and Board member of the Government Securities Clearing Corporation (2001-2003) and Chief Executive Officer and Board member of the Mortgage-Backed Securities Clearing Corporation (2001-2003). Mr. Dirks also serves as a Trustee and a member of the Finance Committee of Manhattan College (2005-present) and a Trustee and a member of the Finance Committee of AHRC of Nassau County (2006-present).
Albert R. Gamper, Jr. (65)
	Year of Election or Appointment: 2006 Prior to his retirement in December 2004, Mr. Gamper served as Chairman of the Board of CIT Group Inc. (commercial finance). During his tenure with CIT Group Inc. Mr. Gamper served in numerous senior management positions, including Chairman (1987-1989; 1999-2001; 2002-2004), Chief Executive Officer (1987-2004), and President (1989-2002). He currently serves as a member of the Board of Directors of Public Service Enterprise Group (utilities, 2001-present), Chairman of the Board of Governors, Rutgers University (2004-present), and Chairman of the Board of Saint Barnabas Health Care System.
George H. Heilmeier (71)
	Year of Election or Appointment: 2004 Dr. Heilmeier is Chairman Emeritus of Telcordia Technologies (communication software and systems), where prior to his retirement, he served as company Chairman and Chief Executive Officer. He currently serves on the Boards of Directors of The Mitre Corporation (systems engineering and information technology support for the government), and HRL Laboratories (private research and development, 2004-present). He is Chairman of the General Motors Science & Technology Advisory Board and a Life Fellow of the Institute of Electrical and Electronics Engineers (IEEE). Dr. Heilmeier is a member of the Defense Science Board and the National Security Agency Advisory Board. He is also a member of the National Academy of Engineering, the American Academy of Arts and Sciences, and the Board of Overseers of the School of Engineering and Applied Science of the University of Pennsylvania. Previously, Dr. Heilmeier served as a Director of TRW Inc. (automotive, space, defense, and information technology, 1992-2002), Compaq (1994-2002), Automatic Data Processing, Inc. (ADP) (technology-based business outsourcing, 1995-2002), INET Technologies Inc. (telecommunications network surveillance, 2001-2004), and Teletech Holdings (customer management services). He is the recipient of the 2005 Kyoto Prize in Advanced Technology for his invention of the liquid crystal display, and a member of the Consumer Electronics Hall of Fame.
James H. Keyes (67)
	Year of Election or Appointment: 2007 Prior to his retirement in 2003, Mr. Keyes was Chairman, President, and Chief Executive Officer of Johnson Controls, Inc. (automotive supplier, 1993-2003). He currently serves as a member of the boards of LSI Logic Corporation (semiconductor technologies), Navistar International Corporation (manufacture and sale of trucks, buses, and diesel engines, 2002-present), and Pitney Bowes, Inc. (integrated mail, messaging, and document management solutions).
Marie L. Knowles (61)
	Year of Election or Appointment: 2001 Prior to Ms. Knowles' retirement in June 2000, she served as Executive Vice President and Chief Financial Officer of Atlantic Richfield Company (ARCO) (diversified energy, 1996-2000). From 1993 to 1996, she was a Senior Vice President of ARCO and President of ARCO Transportation Company. She served as a Director of ARCO from 1996 to 1998. She currently serves as a Director of Phelps Dodge Corporation (copper mining and manufacturing) and McKesson Corporation (healthcare service, 2002-present). Ms. Knowles is a Trustee of the Brookings Institution and the Catalina Island Conservancy and also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California.
Ned C. Lautenbach (64)
	Year of Election or Appointment: 2000 Mr. Lautenbach is Chairman of the Independent Trustees (2006-present). Mr. Lautenbach has been a partner of Clayton, Dubilier & Rice, Inc. (private equity investment firm) since September 1998. Previously, Mr. Lautenbach was with the International Business Machines Corporation (IBM) from 1968 until his retirement in 1998. Mr. Lautenbach serves as a Director of Sony Corporation (2006-present) and Eaton Corporation (diversified industrial) as well as the Philharmonic Center for the Arts in Naples, Florida. He also is a member of the Board of Trustees of Fairfield University (2005-present), as well as a member of the Council on Foreign Relations.
Cornelia M. Small (63)
	Year of Election or Appointment: 2005 Ms. Small is a member (2000-present) and Chairperson (2002-present) of the Investment Committee, and a member (2002-present) of the Board of Trustees of Smith College. Previously, she served as Chief Investment Officer (1999-2000), Director of Global Equity Investments (1996-1999), and a member of the Board of Directors of Scudder, Stevens & Clark (1990-1997) and Scudder Kemper Investments (1997-1999). In addition, Ms. Small served as Co-Chair (2000-2003) of the Annual Fund for the Fletcher School of Law and Diplomacy.
William S. Stavropoulos (68)
	Year of Election or Appointment: 2001 Mr. Stavropoulos is Chairman Emeritus of the Board of Directors of The Dow Chemical Company. Since joining The Dow Chemical Company in 1967, Mr. Stavropoulos served in numerous senior management positions, including President (1993-2000; 2002-2003), CEO (1995-2000; 2002-2004), and Chairman of the Executive Committee (2000-2004). Currently, he is a Director of NCR Corporation (data warehousing and technology solutions), Chemical Financial Corporation, Maersk Inc. (industrial conglomerate, 2002-present), Tyco International, Inc. (multinational manufacturing and services, 2007-present), and a member of the Advisory Board for Metalmark Capital (private equity investment firm, 2005-present). He is a special advisor to Clayton, Dubilier & Rice, Inc., a private equity investment firm. He also serves as a member of the Board of Trustees of the American Enterprise Institute for Public Policy Research. In addition, Mr. Stavropoulos is a member of The Business Council, J.P. Morgan International Council and the University of Notre Dame Advisory Council for the College of Science.
Kenneth L. Wolfe (69)
	Year of Election or Appointment: 2005 Mr. Wolfe is Chairman and a Director of Hershey Foods Corporation (2007-present), where prior to his retirement in 2001, he was Chairman and Chief Executive Officer. Mr. Wolfe currently serves as a member of the board of Revlon Inc. (2004-present). Previously, Mr. Wolfe served as a member of the boards of Adelphia Communications Corporation (2003-2006) and Bausch & Lomb, Inc. (1993-2007).

Advisory Board Members and Executive Officers**:

Correspondence intended for Mr. Mauriello, Mr. Thomas, Mr. Wiley, Mr. Lacy, and Mr. Arthur Johnson may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235. Correspondence intended for each executive officer and Mr. Lynch may be sent to Fidelity Investments, 82 Devonshire Street, Boston, Massachusetts 02109.

Name, Age; Principal Occupation
Arthur E. Johnson (61)
	Year of Election or Appointment: 2008 Member of the Advisory Board of Fidelity Concord Street Trust. Mr. Johnson serves as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor). In addition, Mr. Johnson serves as a member of the Board of Directors of AGL Resources, Inc. (holding company, 2002-present), and IKON Office Solutions, Inc. (document management systems and services). Mr. Arthur E. Johnson and Mr. Edward C. Johnson 3d are not related.
Alan J. Lacy (54)
	Year of Election or Appointment: 2008 Member of the Advisory Board of Fidelity Concord Street Trust. Mr. Lacy serves as Senior Adviser (2007-present) of Oak Hill Capital Partners, L.P. (a private equity firm). Mr. Lacy also served as Vice Chairman and Chief Executive Officer of Sears Holdings Corporation and Sears, Roebuck and Co. (retail, 2005-2006; 2000-2005). In addition, Mr. Lacy serves as a member of the Board of Directors of The Western Union Company (global money transfer, 2006-present) and Bristol-Myers Squibb (global pharmaceuticals, 2007-present). Mr. Lacy is a Trustee of the National Parks Conservation Association and The Field Museum of Natural History.
Peter S. Lynch (64)
	Year of Election or Appointment: 2003 Member of the Advisory Board of Fidelity Concord Street Trust. Mr. Lynch is Vice Chairman and a Director of FMR, and Vice Chairman (2001-present) and a Director of FMR Co., Inc. Previously, Mr. Lynch served as a Trustee of the Fidelity funds (1990-2003). In addition, he serves as a Trustee of Boston College and as the Chairman of the Inner-City Scholarship Fund.
Joseph Mauriello (63)
	Year of Election or Appointment: 2007 Member of the Advisory Board of Fidelity Concord Street Trust. Prior to his retirement in January 2006, Mr. Mauriello served in numerous senior management positions including Deputy Chairman and Chief Operating Officer (2004-2005), and Vice Chairman of Financial Services (2002-2004) of KPMG LLP US (professional services firm, 1965-2005). Mr. Mauriello currently serves as a member of the Board of Directors of XL Capital Ltd. (global insurance and re-insurance company, 2006-present) and of Arcadia Resources Inc. (health care services and products, 2007-present). He also served as a Director of the Hamilton Funds of the Bank of New York (2006-2007).
David M. Thomas (58)
	Year of Election or Appointment: 2007 Member of the Advisory Board of Fidelity Concord Street Trust. Previously, Mr. Thomas served as Executive Chairman (2005-2006) and Chairman and Chief Executive Officer (2000-2005) of IMS Health, Inc. (pharmaceutical and healthcare information solutions). In addition, Mr. Thomas serves as a member of the Board of Directors of Fortune Brands, Inc. (consumer products holding company), and Interpublic Group of Companies, Inc. (marketing communication, 2004-present).
Michael E. Wiley (57)
	Year of Election or Appointment: 2007 Member of the Advisory Board of Fidelity Concord Street Trust. Mr. Wiley also serves as a member of the Board of Trustees of the University of Tulsa (2000-2006; 2007-present). He serves as a Director of Tesoro Corporation (independent oil refiner and marketer, 2005-present), and a Director of Bill Barrett Corporation (exploration and production company, 2005-present). In addition, he also serves as a Director of Post Oak Bank (privately-held bank, 2004-present). Previously, Mr. Wiley served as a Sr. Energy Advisor of Katzenbach Partners, LLC (consulting firm, 2006-2007), as an Advisory Director of Riverstone Holdings (private investment firm), Chairman, President, and CEO of Baker Hughes, Inc. (oilfield services company, 2000-2004), and as Director of Spinnaker Exploration Company (exploration and production company, 2001-2005).
Kimberley H. Monasterio (44)
	Year of Election or Appointment: 2007 President and Treasurer of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Ms. Monasterio also serves as President and Treasurer of other Fidelity funds (2007-present) and is an employee of FMR (2004-present). Previously, Ms. Monasterio served as Deputy Treasurer of the Fidelity funds (2004-2006). Before joining Fidelity Investments, Ms. Monasterio served as Treasurer (2000-2004) and Chief Financial Officer (2002-2004) of the Franklin Templeton Funds and Senior Vice President of Franklin Templeton Services, LLC (2000-2004).
Walter C. Donovan (45)
	Year of Election or Appointment: 2007 Vice President of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. Donovan also serves as Vice President of Fidelity's Equity Funds (2007-present). Mr. Donovan also serves as Executive Vice President of FMR (2005-present) and FMR Co., Inc. (2005-present). Previously, Mr. Donovan served as Vice President of Fidelity's High Income Funds (2005-2007), Fixed-Income Funds (2005-2006), certain Asset Allocation Funds (2005-2006), certain Balanced Funds (2005-2006), and as Vice President and Director of Fidelity's International Equity Trading group (1998-2005).
Eric M. Wetlaufer (45)
	Year of Election or Appointment: 2006 Vice President of Spartan International Index. Mr. Wetlaufer also serves as Vice President of certain International Equity Funds (2006-present). Mr. Wetlaufer is Senior Vice President of FMR (2006-present) and FMR Co., Inc. (2006-present), and President and Director of Fidelity Management & Research (U.K.) Inc. (2006-present) and Fidelity Research & Analysis Company (2006-present). Before joining Fidelity Investments in 2005, Mr. Wetlaufer was a partner in Oxhead Capital Management (2004-2005). Previously, Mr. Wetlaufer served as a Chief Investment Officer of Putnam Investments (1997-2003).
Eric D. Roiter (59)
	Year of Election or Appointment: 1998 Secretary of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. He also serves as Secretary of other Fidelity funds; Vice President, General Counsel, and Secretary of FMR Co., Inc. (2001-present) and FMR; Assistant Secretary of Fidelity Management & Research (U.K.) Inc. (2001-present), Fidelity Research & Analysis Company (2001-present), and Fidelity Investments Money Management, Inc. (2001-present). Mr. Roiter is an Adjunct Member, Faculty of Law, at Boston College Law School (2003-present). Previously, Mr. Roiter served as Vice President and Secretary of Fidelity Distributors Corporation (FDC) (1998-2005).
John B. McGinty, Jr. (45)
	Year of Election or Appointment: 2008 Assistant Secretary of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. McGinty also serves as Assistant Secretary of other Fidelity funds (2008-present) and is an employee of FMR LLC (2004-present). Mr. McGinty also serves as Senior Vice President, Secretary, and Chief Legal Officer of FDC (2007-present). Before joining Fidelity Investments, Mr. McGinty practiced law at Ropes & Gray, LLP.
R. Stephen Ganis (41)
	Year of Election or Appointment: 2006 Anti-Money Laundering (AML) officer of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. Ganis also serves as AML officer of other Fidelity funds (2006-present) and FMR LLC (2003-present). Before joining Fidelity Investments, Mr. Ganis practiced law at Goodwin Procter, LLP (2000-2002).
Joseph B. Hollis (59)
	Year of Election or Appointment: 2006 Chief Financial Officer of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. Hollis also serves as Chief Financial Officer of other Fidelity funds. Mr. Hollis is President of Fidelity Pricing and Cash Management Services (FPCMS) (2005-present). Mr. Hollis also serves as President and Director of Fidelity Service Company, Inc. (2006-present). Previously, Mr. Hollis served as Senior Vice President of Cash Management Services (1999-2002) and Investment Management Operations (2002-2005).
Kenneth A. Rathgeber (60)
	Year of Election or Appointment: 2004 Chief Compliance Officer of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. Rathgeber also serves as Chief Compliance Officer of other Fidelity funds (2004-present) and Executive Vice President of Risk Oversight for Fidelity Investments (2002-present). He is Chief Compliance Officer of FMR (2005-present), FMR Co., Inc. (2005-present), Fidelity Management & Research (U.K.) Inc. (2005-present), Fidelity Research & Analysis Company (2005-present), Fidelity Investments Money Management, Inc. (2005-present), and Strategic Advisers, Inc. (2005-present). Previously, Mr. Rathgeber served as Executive Vice President and Chief Operating Officer for Fidelity Investments Institutional Services Company, Inc. (1998-2002).
Bryan A. Mehrmann (46)
	Year of Election or Appointment: 2005 Deputy Treasurer of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. Mehrmann also serves as Deputy Treasurer of other Fidelity funds (2005-present) and is an employee of FMR. Previously, Mr. Mehrmann served as Vice President of Fidelity Investments Institutional Services Group (FIIS)/Fidelity Investments Institutional Operations Corporation, Inc. (FIIOC) Client Services (1998-2004).
Kenneth B. Robins (38)
	Year of Election or Appointment: 2005 Deputy Treasurer of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. Robins also serves as Deputy Treasurer of other Fidelity funds (2005-present) and is an employee of FMR (2004-present). Before joining Fidelity Investments, Mr. Robins worked at KPMG LLP, where he was a partner in KPMG's department of professional practice (2002-2004) and a Senior Manager (1999-2000). In addition, Mr. Robins served as Assistant Chief Accountant, United States Securities and Exchange Commission (2000-2002).
Robert G. Byrnes (41)
	Year of Election or Appointment: 2005 Assistant Treasurer of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. Byrnes also serves as Assistant Treasurer of other Fidelity funds (2005-present) and is an employee of FMR (2005-present). Previously, Mr. Byrnes served as Vice President of FPCMS (2003-2005). Before joining Fidelity Investments, Mr. Byrnes worked at Deutsche Asset Management where he served as Vice President of the Investment Operations Group (2000-2003).
Peter L. Lydecker (54)
	Year of Election or Appointment: 2004 Assistant Treasurer of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. Lydecker also serves as Assistant Treasurer of other Fidelity funds (2004) and is an employee of FMR.
Paul M. Murphy (60)
	Year of Election or Appointment: 2007 Assistant Treasurer of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. Murphy also serves as Assistant Treasurer of other Fidelity funds (2007-present) and is an employee of FMR (2007-present). Previously, Mr. Murphy served as Chief Financial Officer of the Fidelity Funds (2005-2006), Vice President and Associate General Counsel of FMR (2007), and Senior Vice President of Fidelity Pricing and Cash Management Services Group (FPCMS) (1994-2007).
Gary W. Ryan (49)
	Year of Election or Appointment: 2005 Assistant Treasurer of Spartan Total Market Index, Spartan Extended Market Index, and Spartan International Index. Mr. Ryan also serves as Assistant Treasurer of other Fidelity funds (2005-present) and is an employee of FMR (2005-present). Previously, Mr. Ryan served as Vice President of Fund Reporting in FPCMS (1999-2005).

** FMR Corp. merged with and into FMR LLC on October 1, 2007. Any references to FMR LLC for prior periods are deemed to be references to the prior entity.

Annual Report

Distributions

The Board of Trustees of each fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities and dividends derived from net investment income:

	Pay Date	Record Date	Dividends	Capital Gains
Spartan Total Market Index Fund
Investor Class	04/14/08	04/11/08	$0.10000	$0.00500
Fidelity Advantage Class	04/14/08	04/11/08	$0.10341	$0.00500
Spartan Extended Market Index Fund
Investor Class	04/14/08	04/11/08	$0.08000	$0.44000
Fidelity Advantage Class	04/14/08	04/11/08	$0.08319	$0.44000
Spartan International Index Fund
Investor Class	04/14/08	04/11/08	$0.05000	$0.00000
Fidelity Investor Class	04/14/08	04/11/08	$0.05396	$0.00000

The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended February 29, 2008, or, if subsequently determined to be different, the net capital gain of such year.

Spartan Total Market Index Fund	$ 41,802,244
Spartan Extended Market Index Fund	$ 134,069,083
Spartan International Index Fund	$ 33,205,942

A percentage of the dividends distributed during the fiscal year for the following funds were derived from interest on U.S. Government securities which is generally exempt from state income tax:

Spartan Total Market Index Fund	.60%
Spartan Extended Market Index Fund	.59%
Spartan International Index Fund	.32%

A percentage of the dividends distributed during the fiscal year for the following funds qualify for the dividends-received deduction for corporate shareholders:

	April 2007	December 2007
Spartan Total Market Index Fund
Investor Class	96%	89%
Fidelity Advantage Class	93%	87%
Spartan Extended Market Index Fund
Investor Class	33%	56%
Fidelity Advantage Class	32%	55%

A percentage of the dividends distributed during the fiscal year for the following funds may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

	April 2007	December 2007
Spartan Total Market Index Fund
Investor Class	99%	91%
Fidelity Advantage Class	96%	89%
Spartan Extended Market Index Fund
Investor Class	35%	63%
Fidelity Advantage Class	34%	61%
Spartan International Index Fund
Investor Class	50%	88%
Fidelity Advantage Class	48%	87%

Annual Report

The amounts per share which represent income derived from sources within, and taxes paid to, foreign countries or possessions of the United States are as follows:

	Pay Date	Income	Taxes
Spartan International Index Fund
Investor Class	04/16/07	$0.048	$0.0032
Investor Class	12/24/07	$0.565	$0.0840
Fidelity Advantage Class	04/16/07	$0.049	$0.0032
Fidelity Advantage Class	12/24/07	$0.569	$0.0840

The funds will notify shareholders in January 2009 of amounts for use in preparing 2008 income tax returns.

Annual Report

Proxy Voting Results

A special meeting of shareholders was held on December 13, 2007. The results of votes taken among shareholders on the proposals before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.

PROPOSAL 1
To amend the Declaration of Trust to reduce the required quorum for shareholder meetings.A
	# of Votes	% of Votes
Affirmative	19,154,315,675.67	76.651
Against	4,609,247,880.96	18.446
Abstain	965,873,543.48	3.864
Broker Non-Votes	259,452,905.63	1.039
TOTAL	24,988,890,005.74	100.000
PROPOSAL 2
To elect a Board of Trustees. A
James C. Curvey
Affirmative	23,704,780,943.95	94.861
Withheld	1,284,109,061.79	5.139
TOTAL	24,988,890,005.74	100.000
Dennis J. Dirks
Affirmative	23,781,622,687.42	95.169
Withheld	1,207,267,318.32	4.831
TOTAL	24,988,890,005.74	100.000
Albert R. Gamper, Jr.
Affirmative	23,767,840,259.18	95.114
Withheld	1,221,049,746.56	4.886
TOTAL	24,988,890,005.74	100.000
George H. Heilmeier
Affirmative	23,737,496,011.43	94.992
Withheld	1,251,393,994.31	5.008
TOTAL	24,988,890,005.74	100.000
Edward C. Johnson 3d
Affirmative	23,600,952,366.46	94.446
Withheld	1,387,937,639.28	5.554
TOTAL	24,988,890,005.74	100.000
James H. Keyes
Affirmative	23,763,258,549.78	95.095
Withheld	1,225,631,455.96	4.905
TOTAL	24,988,890,005.74	100.000
Marie L. Knowles
Affirmative	23,753,447,780.84	95.056
Withheld	1,235,442,224.90	4.944
TOTAL	24,988,890,005.74	100.000
Ned C. Lautenbach
Affirmative	23,763,228,852.04	95.095
Withheld	1,225,661,153.70	4.905
TOTAL	24,988,890,005.74	100.000
Cornelia M. Small
Affirmative	23,766,490,777.77	95.108
Withheld	1,222,399,227.97	4.892
TOTAL	24,988,890,005.74	100.000
	# of Votes	% of Votes
William S. Stavropoulos
Affirmative	23,740,913,140.79	95.006
Withheld	1,247,976,864.95	4.994
TOTAL	24,988,890,005.74	100.000
Kenneth L. Wolfe
Affirmative	23,760,336,636.65	95.084
Withheld	1,228,553,369.09	4.916
TOTAL	24,988,890,005.74	100.000

^A _{Denotes trust-wide proposal and voting results.}

Annual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Adviser

FMR Co., Inc.

Geode Capital Management, LLC

General Distributor

Fidelity Distributors Corporation
Boston, MA

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.
Boston, MA

Fidelity Service Company, Inc.
Boston, MA

Custodian

Mellon Bank, N.A.
Pittsburgh, PA

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions
and Account Assistance 1-800-544-6666

Product Information 1-800-544-6666

Retirement Accounts 1-800-544-4774
(8 a.m. - 9 p.m.)

TDD Service 1-800-544-0118
for the deaf and hearing impaired
(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service
Telephone (FAST®) (automated graphic)    1-800-544-5555

(automated graphic)    Automated line for quickest service

SIF-UANNPRO-0408
1.790918.104

Spartan®
U.S. Equity Index
Fund -
Investor Class
Fidelity Advantage Class

Annual Report

February 29, 2008

(2_fidelity_logos) (Registered_Trademark)

Contents

Chairman's Message	<Click Here>	Ned Johnson's message to shareholders.
Performance	<Click Here>	How the fund has done over time.
Management's Discussion	<Click Here>	The manager's review of fund performance, strategy and outlook.
Shareholder Expense Example	<Click Here>	An example of shareholder expenses.
Investment Changes	<Click Here>	A summary of major shifts in the fund's investments over the past six months.
Investments	<Click Here>	A complete list of the fund's investments with their market values.
Financial Statements	<Click Here>	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Notes	<Click Here>	Notes to the financial statements.
Report of Independent Registered Public Accounting Firm	<Click Here>
Trustees and Officers	<Click Here>
Distributions	<Click Here>
Proxy Voting Results	<Click Here>

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com (search for "proxy voting guidelines") or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.

If additional copies of financial reports, prospectuses or historical account information are needed, or for more information on any Fidelity fund including charges and expenses, please call the appropriate number listed below or the number provided to your institutional or employer-sponsored retirement plan. Read the prospectus carefully before you invest or send money.
Retirement Plan Level Accounts
Corporate Clients 1-800-962-1375
"Not For Profit" Clients 1-800-343-0860
Financial and Other Institutions
Nationwide 1-800-221-5207
Other Investors 1-800-544-6666

Annual Report

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com or http://www.advisor.fidelity.com, as applicable.

NOT FDIC INSURED · MAY LOSE VALUE · NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Annual Report

Chairman's Message

(photo_of_Edward_C_Johnson_3d)

Dear Shareholder:

Continuation of a credit squeeze, flat consumer spending and a potential recession weighed heavily on stocks in the opening months of 2008, though positive results in investment-grade bonds and money markets offered some comfort to investors. Financial markets are always unpredictable, but there are a number of time-tested principles that can put the historical odds in your favor.

One of the basic tenets is to invest for the long term. Over time, riding out the markets' inevitable ups and downs has proven much more effective than selling into panic or chasing the hottest trend. Even missing only a few of the markets' best days can significantly diminish investor returns. Patience also affords the benefits of compounding - of earning interest on additional income or reinvested dividends and capital gains. There are tax advantages and cost benefits to consider as well. The more you sell, the more taxes you pay, and the more you trade, the higher the costs. While staying the course doesn't eliminate risk, it can considerably lessen the effect of short-term declines.

You can further manage your investing risk through diversification. And today, more than ever, geographic diversification should be taken into account. Studies indicate that asset allocation is the single most important determinant of a portfolio's long-term success. The right mix of stocks, bonds and cash - aligned to your particular risk tolerance and investment objective - is very important. Age-appropriate rebalancing is also an essential aspect of asset allocation. For younger investors, an emphasis on equities - which historically have been the best-performing asset class over time - is encouraged. As investors near their specific goal, such as retirement or sending a child to college, consideration may be given to replacing volatile assets (e.g. common stocks) with more-stable fixed investments (bonds or savings plans).

A third investment principle - investing regularly - can help lower the average cost of your purchases. Investing a certain amount of money each month or quarter helps ensure you won't pay for all your shares at market highs. This strategy - known as dollar cost averaging - also reduces unconstructive "emotion" from investing, helping shareholders avoid selling weak performers just prior to an upswing, or chasing a hot performer just before a correction.

We invite you to contact us via the Internet, through our Investor Centers or over the phone. It is our privilege to provide you the information you need to make the investments that are right for you.

Sincerely,

/s/Edward C. Johnson 3d

Edward C. Johnson 3d

Annual Report

Performance: The Bottom Line

Average annual total return reflects the change in the value of an investment, assuming reinvestment of the class' dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The $100,000 table and the fund's returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund's total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.

Average Annual Total Returns

Periods ended February 29, 2008	Past 1 year	Past 5 years	Past 10 years
Investor Class	-3.66%	11.54%	3.94%
Fidelity Advantage Class A	-3.63%	11.55%	3.95%

^A The initial offering of Fidelity Advantage Class took place on October 14, 2005. Returns prior to October 14, 2005, are those of Investor Class.

$100,000 Over 10 Years

Let's say hypothetically that $100,000 was invested in Spartan® US Equity Index Fund - Investor Class on February 28, 1998. The chart shows how the value of your investment would have changed, and also shows how the Standard & Poor's 500^SM Index performed over the same period.

Annual Report

Management's Discussion of Fund Performance

Comments from Jeffrey Adams, who oversees the Spartan® U.S. Equity Index Fund's investment management team as Head of Indexing for Geode Capital Management, LLC

It was a winter of discontent for U.S. equity investors, as a credit freeze led to subzero returns for many stock market benchmarks during the 12-month period ending February 29, 2008. In addition to the subprime mortgage market crisis, which severely constrained the availability of credit, a flurry of other issues afflicted investor sentiment - particularly in the final three months of the period - including a major housing market slowdown, rising inflation, a potential recession and oil prices that topped $100 per barrel. The Federal Reserve Board aggressively intervened in an effort to ease the credit crunch, slashing the federal funds target rate five times since September. Despite the central bank's efforts, the Standard & Poor's 500^SM Index fell 3.60% for the year overall and lost nearly 10% in the December-February time frame alone. The bellwether, blue-chip Dow Jones Industrial Average^SM managed a modest increase of 2.32% over the past 12 months, but the small-cap-oriented Russell 2000® Index declined 12.44%. Elsewhere, the technology-heavy NASDAQ Composite® Index fell 5.34%.

For the year ending February 29, 2008, the fund's Investor Class and Fidelity Advantage Class shares lost 3.66% and 3.63%, respectively, in line with the S&P 500® index. The energy sector led the market by a wide margin. Specific outperformers included diversified energy producers Exxon Mobil, Chevron and ConocoPhillips, as well as oilfield services company Schlumberger. Materials stocks also performed well, while consumer staples companies such as food and tobacco giant Altria benefited as many investors favored more-defensive companies in a weakening economy. In technology, personal computer and electronics manufacturer Apple benefited from strong sales of its key products. Diversified technology company IBM rose thanks to better-than-expected earnings. Also helping performance was agricultural products company Monsanto, which gained on strong worldwide demand for food and biofuels. In contrast, financials were the biggest laggards by far. Worries about the deteriorating housing market and subprime loans hurt many banks, insurance and diversified financial companies, including Citigroup, American International Group (AIG), Wachovia, Bank of America, Merrill Lynch and JPMorganChase. Housing market weakness also hampered government-sponsored mortgage-finance companies Fannie Mae and Freddie Mac. Consumer discretionary holdings lagged as well during the past year.

The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.

Annual Report

Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2007 to February 29, 2008).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. An annual index fund fee of $10 that is charged once a year may apply for certain accounts with a value of less than $10,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. An annual index fund fee of $10 that is charged once a year may apply for certain accounts with a value of less than $10,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.

Annual Report

Shareholder Expense Example - continued

	Beginning Account Value September 1, 2007	Ending Account Value February 29, 2008	Expenses Paid During Period* September 1, 2007 to February 29, 2008
Investor Class
Actual	$ 1,000.00	$ 911.80	$ .48
HypotheticalA	$ 1,000.00	$ 1,024.37	$ .50
Fidelity Advantage Class
Actual	$ 1,000.00	$ 911.70	$ .33
HypotheticalA	$ 1,000.00	$ 1,024.52	$ .35

^A 5% return per year before expenses

* Expenses are equal to each Class' annualized expense ratio (shown in the table below); multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period).

	Annualized Expense Ratio
Investor Class	.10%
Fidelity Advantage Class	.07%

Annual Report

Investment Changes

Top Ten Stocks as of February 29, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Exxon Mobil Corp.	4.0	3.6
General Electric Co.	2.8	3.0
Microsoft Corp.	1.9	1.8
AT&T, Inc.	1.8	1.9
Procter & Gamble Co.	1.8	1.5
Chevron Corp.	1.6	1.4
Johnson & Johnson	1.5	1.4
Bank of America Corp.	1.5	1.7
International Business Machines Corp.	1.3	1.2
Altria Group, Inc.	1.3	1.1
	19.5
Market Sectors as of February 29, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	16.9	19.7
Information Technology	15.3	16.0
Energy	13.4	11.0
Health Care	12.1	11.5
Industrials	11.6	11.2
Consumer Staples	10.5	9.3
Consumer Discretionary	8.6	9.6
Materials	3.6	3.0
Utilities	3.5	3.4
Telecommunication Services	3.2	3.7

Annual Report

Investments February 29, 2008

Showing Percentage of Net Assets

Common Stocks - 98.7%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 8.6%
Auto Components - 0.2%
Johnson Controls, Inc.	1,328,552		$ 43,656
The Goodyear Tire & Rubber Co. (a)	536,596		14,542
			58,198
Automobiles - 0.3%
Ford Motor Co. (a)(d)	4,721,197		30,829
General Motors Corp. (d)	1,266,307		29,480
Harley-Davidson, Inc.	540,227		20,075
			80,384
Distributors - 0.1%
Genuine Parts Co.	375,645		15,495
Diversified Consumer Services - 0.1%
Apollo Group, Inc. Class A (non-vtg.) (a)	305,987		18,781
H&R Block, Inc.	727,204		13,562
			32,343
Hotels, Restaurants & Leisure - 1.3%
Carnival Corp. unit	977,256		38,455
Darden Restaurants, Inc.	317,462		9,787
International Game Technology	705,649		31,860
Marriott International, Inc. Class A	699,382		23,849
McDonald's Corp.	2,646,203		143,186
Starbucks Corp. (a)	1,634,135		29,365
Starwood Hotels & Resorts Worldwide, Inc.	445,548		21,088
Wendy's International, Inc.	195,528		4,747
Wyndham Worldwide Corp.	398,070		8,825
Yum! Brands, Inc.	1,137,917		39,201
			350,363
Household Durables - 0.5%
Black & Decker Corp.	139,913		9,622
Centex Corp.	271,975		6,035
D.R. Horton, Inc.	620,159		8,701
Fortune Brands, Inc.	341,766		22,208
Harman International Industries, Inc.	135,302		5,574
KB Home (d)	172,329		4,124
Leggett & Platt, Inc.	380,590		6,356
Lennar Corp. Class A (d)	311,831		5,803
Newell Rubbermaid, Inc.	624,882		14,185
Pulte Homes, Inc.	475,439		6,437
Snap-On, Inc.	128,896		6,434
Common Stocks - continued
	Shares		Value (000s)
CONSUMER DISCRETIONARY - continued
Household Durables - continued
The Stanley Works	183,863		$ 8,925
Whirlpool Corp. (d)	172,931		14,590
			118,994
Internet & Catalog Retail - 0.2%
Amazon.com, Inc. (a)(d)	687,374		44,315
Expedia, Inc. (a)(d)	464,659		10,655
IAC/InterActiveCorp (a)	412,482		8,208
			63,178
Leisure Equipment & Products - 0.2%
Brunswick Corp. (d)	196,741		3,205
Eastman Kodak Co. (d)	644,295		10,940
Hasbro, Inc.	329,046		8,480
Mattel, Inc.	820,748		15,857
			38,482
Media - 2.9%
CBS Corp. Class B	1,532,657		34,975
Clear Channel Communications, Inc.	1,114,004		35,648
Comcast Corp. Class A	6,875,654		134,350
E.W. Scripps Co. Class A	200,441		8,372
Gannett Co., Inc.	519,375		15,659
Interpublic Group of Companies, Inc. (a)(d)	1,054,628		9,091
McGraw-Hill Companies, Inc.	736,077		30,128
Meredith Corp.	84,921		3,681
News Corp. Class A	5,145,296		94,725
Omnicom Group, Inc.	731,378		32,671
The DIRECTV Group, Inc. (a)	1,606,184		40,235
The New York Times Co. Class A (d)	321,842		5,996
The Walt Disney Co.	4,258,697		138,024
Time Warner, Inc.	8,086,992		126,238
Viacom, Inc. Class B (non-vtg.) (a)	1,468,216		58,362
Washington Post Co. Class B	12,973		9,392
			777,547
Multiline Retail - 0.8%
Big Lots, Inc. (a)	202,271		3,408
Dillard's, Inc. Class A (d)	127,809		1,890
Family Dollar Stores, Inc.	314,282		6,019
JCPenney Co., Inc.	496,049		22,922
Kohl's Corp. (a)(d)	701,781		31,187
Macy's, Inc.	968,731		23,908
Common Stocks - continued
	Shares		Value (000s)
CONSUMER DISCRETIONARY - continued
Multiline Retail - continued
Nordstrom, Inc.	420,590		$ 15,574
Sears Holdings Corp. (a)(d)	163,207		15,606
Target Corp.	1,858,863		97,795
			218,309
Specialty Retail - 1.6%
Abercrombie & Fitch Co. Class A	192,751		14,944
AutoNation, Inc. (a)(d)	308,687		4,498
AutoZone, Inc. (a)	98,760		11,365
Bed Bath & Beyond, Inc. (a)(d)	592,488		16,791
Best Buy Co., Inc.	785,147		33,769
Circuit City Stores, Inc. (d)	377,122		1,667
Gamestop Corp. Class A (a)	355,825		15,073
Gap, Inc.	1,042,022		21,018
Home Depot, Inc. (d)	3,775,732		100,246
Limited Brands, Inc.	695,283		10,603
Lowe's Companies, Inc.	3,272,305		78,437
Office Depot, Inc. (a)	610,626		6,943
OfficeMax, Inc.	168,687		3,588
RadioShack Corp.	293,283		5,118
Sherwin-Williams Co.	233,264		12,078
Staples, Inc. (d)	1,582,013		35,200
Tiffany & Co., Inc.	284,143		10,695
TJX Companies, Inc.	977,747		31,288
			413,321
Textiles, Apparel & Luxury Goods - 0.4%
Coach, Inc. (a)	823,636		24,973
Jones Apparel Group, Inc.	190,754		2,692
Liz Claiborne, Inc.	222,575		3,957
NIKE, Inc. Class B	859,198		51,724
Polo Ralph Lauren Corp. Class A	131,747		8,193
VF Corp.	196,966		14,977
			106,516
TOTAL CONSUMER DISCRETIONARY			2,273,130
CONSUMER STAPLES - 10.5%
Beverages - 2.4%
Anheuser-Busch Companies, Inc.	1,641,825		77,314
Brown-Forman Corp. Class B (non-vtg.)	193,302		12,327
Coca-Cola Enterprises, Inc.	640,292		15,642
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Beverages - continued
Constellation Brands, Inc. Class A (sub. vtg.) (a)	433,776		$ 8,333
Molson Coors Brewing Co. Class B	305,759		16,499
Pepsi Bottling Group, Inc.	310,284		10,553
PepsiCo, Inc.	3,601,412		250,514
The Coca-Cola Co.	4,446,531		259,944
			651,126
Food & Staples Retailing - 2.5%
Costco Wholesale Corp.	971,183		60,136
CVS Caremark Corp.	3,304,271		133,426
Kroger Co.	1,523,992		36,957
Safeway, Inc.	989,788		28,447
SUPERVALU, Inc.	472,980		12,416
Sysco Corp.	1,360,646		38,180
Wal-Mart Stores, Inc.	5,286,413		262,153
Walgreen Co.	2,218,558		81,000
Whole Foods Market, Inc. (d)	311,777		10,959
			663,674
Food Products - 1.5%
Archer Daniels Midland Co.	1,438,350		64,870
Campbell Soup Co.	497,777		16,073
ConAgra Foods, Inc.	1,090,143		24,092
Dean Foods Co. (d)	336,282		7,237
General Mills, Inc.	755,421		42,296
H.J. Heinz Co.	709,046		31,276
Hershey Co.	375,907		13,939
Kellogg Co.	590,469		29,949
Kraft Foods, Inc. Class A	3,461,564		107,897
McCormick & Co., Inc. (non-vtg.)	285,810		9,846
Sara Lee Corp.	1,620,246		20,464
Tyson Foods, Inc. Class A	612,649		8,828
Wm. Wrigley Jr. Co.	487,368		29,174
			405,941
Household Products - 2.4%
Clorox Co.	309,879		18,032
Colgate-Palmolive Co.	1,140,499		86,781
Kimberly-Clark Corp.	946,637		61,702
Procter & Gamble Co.	6,948,295		459,838
			626,353
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Personal Products - 0.2%
Avon Products, Inc.	959,949		$ 36,536
Estee Lauder Companies, Inc. Class A	254,760		10,848
			47,384
Tobacco - 1.5%
Altria Group, Inc.	4,712,503		344,672
Reynolds American, Inc.	382,803		24,392
UST, Inc.	350,476		19,027
			388,091
TOTAL CONSUMER STAPLES			2,782,569
ENERGY - 13.4%
Energy Equipment & Services - 2.7%
Baker Hughes, Inc.	711,883		47,903
BJ Services Co.	655,142		16,994
Cameron International Corp. (a)	489,355		20,788
ENSCO International, Inc.	324,118		19,395
Halliburton Co.	1,971,417		75,505
Nabors Industries Ltd. (a)(d)	633,653		19,979
National Oilwell Varco, Inc. (a)	797,968		49,713
Noble Corp.	599,704		29,475
Rowan Companies, Inc.	248,980		10,036
Schlumberger Ltd. (NY Shares)	2,675,532		231,300
Smith International, Inc.	448,170		28,248
Transocean, Inc. (a)	711,466		99,968
Weatherford International Ltd. (a)(d)	754,609		52,008
			701,312
Oil, Gas & Consumable Fuels - 10.7%
Anadarko Petroleum Corp.	1,043,390		66,506
Apache Corp.	740,909		84,990
Chesapeake Energy Corp.	1,016,226		45,954
Chevron Corp.	4,723,962		409,379
ConocoPhillips	3,578,714		295,995
CONSOL Energy, Inc.	405,952		30,844
Devon Energy Corp.	995,516		102,259
El Paso Corp.	1,567,208		25,545
EOG Resources, Inc.	550,360		65,487
Exxon Mobil Corp.	12,223,856		1,063,585
Hess Corp.	621,796		57,939
Marathon Oil Corp.	1,589,121		84,478
Common Stocks - continued
	Shares		Value (000s)
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Murphy Oil Corp.	420,899		$ 33,832
Noble Energy, Inc.	384,067		29,727
Occidental Petroleum Corp.	1,853,831		143,431
Peabody Energy Corp.	592,441		33,544
Range Resources Corp.	333,794		20,422
Spectra Energy Corp.	1,414,650		32,693
Sunoco, Inc.	263,068		16,068
Tesoro Corp.	306,472		11,382
Valero Energy Corp.	1,231,499		71,144
Williams Companies, Inc.	1,327,907		47,831
XTO Energy, Inc.	1,081,854		66,761
			2,839,796
TOTAL ENERGY			3,541,108
FINANCIALS - 16.9%
Capital Markets - 3.1%
American Capital Strategies Ltd. (d)	428,956		15,567
Ameriprise Financial, Inc.	518,827		26,273
Bank of New York Mellon Corp.	2,547,590		111,763
Bear Stearns Companies, Inc. (d)	258,323		20,630
Charles Schwab Corp.	2,095,734		41,097
E*TRADE Financial Corp. (a)(d)	1,033,130		4,411
Federated Investors, Inc. Class B (non-vtg.)	193,462		7,851
Franklin Resources, Inc.	361,798		34,143
Goldman Sachs Group, Inc.	889,725		150,924
Janus Capital Group, Inc.	343,250		8,314
Legg Mason, Inc.	300,422		19,840
Lehman Brothers Holdings, Inc. (d)	1,185,865		60,467
Merrill Lynch & Co., Inc.	1,915,212		94,918
Morgan Stanley	2,374,302		100,006
Northern Trust Corp.	428,109		28,953
State Street Corp.	864,065		67,872
T. Rowe Price Group, Inc.	590,772		29,852
			822,881
Commercial Banks - 3.0%
BB&T Corp. (d)	1,229,309		38,268
Comerica, Inc.	337,875		12,245
Commerce Bancorp, Inc.	435,896		16,468
Fifth Third Bancorp	1,191,708		27,290
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Commercial Banks - continued
First Horizon National Corp.	282,770		$ 4,592
Huntington Bancshares, Inc.	818,629		10,004
KeyCorp	869,799		19,179
M&T Bank Corp. (d)	167,187		13,723
Marshall & Ilsley Corp.	575,697		13,356
National City Corp.	1,417,574		22,483
PNC Financial Services Group, Inc.	782,085		48,043
Regions Financial Corp.	1,555,147		32,969
SunTrust Banks, Inc.	781,383		45,422
U.S. Bancorp, Delaware	3,863,088		123,696
Wachovia Corp.	4,419,672		135,330
Wells Fargo & Co. (d)	7,549,542		220,673
Zions Bancorp (d)	241,706		11,541
			795,282
Consumer Finance - 0.7%
American Express Co.	2,616,375		110,673
Capital One Financial Corp. (d)	874,343		40,246
Discover Financial Services	1,068,439		16,123
SLM Corp. (d)	1,153,960		22,629
			189,671
Diversified Financial Services - 4.3%
Bank of America Corp.	9,929,919		394,615
CIT Group, Inc.	424,260		9,427
Citigroup, Inc.	11,169,360		264,826
CME Group, Inc.	122,531		62,895
IntercontinentalExchange, Inc. (a)(d)	155,632		20,279
JPMorgan Chase & Co.	7,515,242		305,495
Leucadia National Corp. (d)	378,323		17,123
Moody's Corp.	479,842		18,224
NYSE Euronext	592,889		38,935
			1,131,819
Insurance - 4.1%
ACE Ltd.	737,386		41,471
AFLAC, Inc.	1,091,396		68,114
Allstate Corp.	1,276,872		60,945
AMBAC Financial Group, Inc. (d)	227,199		2,531
American International Group, Inc.	5,674,365		265,901
Aon Corp.	656,900		27,334
Assurant, Inc.	213,678		13,366
Cincinnati Financial Corp.	371,392		13,805
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Insurance - continued
Genworth Financial, Inc. Class A (non-vtg.)	981,383		$ 22,748
Hartford Financial Services Group, Inc.	702,170		49,082
Lincoln National Corp. (d)	602,346		30,786
Loews Corp.	983,452		41,148
Marsh & McLennan Companies, Inc.	1,163,740		29,640
MBIA, Inc. (d)	446,010		5,785
MetLife, Inc.	1,656,947		96,534
Principal Financial Group, Inc.	585,273		32,325
Progressive Corp.	1,561,870		28,629
Prudential Financial, Inc.	1,015,741		74,119
SAFECO Corp.	211,538		9,786
The Chubb Corp.	858,641		43,705
The Travelers Companies, Inc.	1,442,957		66,968
Torchmark Corp.	206,234		12,428
Unum Group	807,291		18,495
XL Capital Ltd. Class A	398,806		14,381
			1,070,026
Real Estate Investment Trusts - 1.1%
Apartment Investment & Management Co. Class A	213,850		7,367
AvalonBay Communities, Inc.	176,193		16,286
Boston Properties, Inc.	266,833		22,993
Developers Diversified Realty Corp.	274,877		10,599
Equity Residential (SBI)	606,449		23,154
General Growth Properties, Inc.	545,484		19,261
Host Hotels & Resorts, Inc.	1,168,765		18,922
Kimco Realty Corp.	565,390		19,093
Plum Creek Timber Co., Inc.	385,436		15,683
ProLogis Trust	576,171		31,044
Public Storage	278,565		22,664
Simon Property Group, Inc.	498,935		41,811
Vornado Realty Trust	299,783		25,050
			273,927
Real Estate Management & Development - 0.0%
CB Richard Ellis Group, Inc. Class A (a)(d)	442,799		8,883
Thrifts & Mortgage Finance - 0.6%
Countrywide Financial Corp.	1,294,735		8,170
Fannie Mae (d)	2,188,471		60,511
Freddie Mac (d)	1,480,105		37,269
Hudson City Bancorp, Inc.	1,164,355		18,478
MGIC Investment Corp. (d)	182,997		2,710
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Thrifts & Mortgage Finance - continued
Sovereign Bancorp, Inc. (d)	806,377		$ 8,894
Washington Mutual, Inc. (d)	1,943,608		28,765
			164,797
TOTAL FINANCIALS			4,457,286
HEALTH CARE - 12.1%
Biotechnology - 1.3%
Amgen, Inc. (a)	2,433,399		110,768
Biogen Idec, Inc. (a)	656,359		38,305
Celgene Corp. (a)	863,291		48,664
Genzyme Corp. (a)	595,072		42,203
Gilead Sciences, Inc. (a)	2,082,431		98,541
			338,481
Health Care Equipment & Supplies - 1.9%
Baxter International, Inc.	1,418,621		83,727
Becton, Dickinson & Co.	545,681		49,340
Boston Scientific Corp. (a)(d)	3,001,823		37,793
C.R. Bard, Inc.	227,976		21,610
Covidien Ltd.	1,113,937		47,665
Hospira, Inc. (a)	352,505		15,003
Medtronic, Inc.	2,529,641		124,863
St. Jude Medical, Inc. (a)	765,956		32,921
Stryker Corp.	532,662		34,682
Varian Medical Systems, Inc. (a)	279,928		14,682
Zimmer Holdings, Inc. (a)	525,154		39,539
			501,825
Health Care Providers & Services - 2.2%
Aetna, Inc.	1,119,553		55,530
AmerisourceBergen Corp.	375,782		15,678
Cardinal Health, Inc.	808,931		47,840
CIGNA Corp.	624,576		27,844
Coventry Health Care, Inc. (a)	346,515		17,974
Express Scripts, Inc. (a)	563,902		33,327
Humana, Inc. (a)	379,073		25,902
Laboratory Corp. of America Holdings (a)(d)	257,739		19,926
McKesson Corp.	647,450		38,044
Medco Health Solutions, Inc. (a)	1,196,794		53,030
Patterson Companies, Inc. (a)	312,828		11,012
Quest Diagnostics, Inc. (d)	350,854		16,725
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Health Care Providers & Services - continued
Tenet Healthcare Corp. (a)	1,060,709		$ 5,102
UnitedHealth Group, Inc.	2,890,974		134,372
WellPoint, Inc. (a)	1,212,491		84,971
			587,277
Health Care Technology - 0.0%
IMS Health, Inc.	434,021		9,770
Life Sciences Tools & Services - 0.4%
Applera Corp. - Applied Biosystems Group	376,281		12,684
Millipore Corp. (a)	122,104		8,535
PerkinElmer, Inc.	265,202		6,582
Thermo Fisher Scientific, Inc. (a)	943,991		52,797
Waters Corp. (a)	224,682		13,393
			93,991
Pharmaceuticals - 6.3%
Abbott Laboratories	3,457,264		185,136
Allergan, Inc. (d)	686,793		40,679
Barr Pharmaceuticals, Inc. (a)(d)	241,073		11,367
Bristol-Myers Squibb Co.	4,426,554		100,084
Eli Lilly & Co.	2,207,900		110,439
Forest Laboratories, Inc. (a)	697,723		27,748
Johnson & Johnson	6,402,638		396,707
King Pharmaceuticals, Inc. (a)	546,878		5,797
Merck & Co., Inc.	4,869,668		215,726
Mylan, Inc. (d)	676,546		8,010
Pfizer, Inc.	15,280,430		340,448
Schering-Plough Corp.	3,623,829		78,637
Watson Pharmaceuticals, Inc. (a)	231,851		6,448
Wyeth	2,996,079		130,689
			1,657,915
TOTAL HEALTH CARE			3,189,259
INDUSTRIALS - 11.6%
Aerospace & Defense - 2.9%
General Dynamics Corp.	900,224		73,683
Goodrich Corp.	279,483		16,554
Honeywell International, Inc.	1,670,760		96,136
L-3 Communications Holdings, Inc.	281,387		29,909
Lockheed Martin Corp.	776,450		80,130
Northrop Grumman Corp.	757,023		59,510
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Aerospace & Defense - continued
Precision Castparts Corp.	309,031		$ 34,114
Raytheon Co.	960,495		62,278
Rockwell Collins, Inc.	364,497		21,469
The Boeing Co.	1,734,061		143,563
United Technologies Corp.	2,211,604		155,940
			773,286
Air Freight & Logistics - 1.0%
C.H. Robinson Worldwide, Inc.	379,787		19,282
Expeditors International of Washington, Inc. (d)	476,794		18,748
FedEx Corp.	691,923		60,979
United Parcel Service, Inc. Class B	2,351,065		165,139
			264,148
Airlines - 0.1%
Southwest Airlines Co.	1,642,275		20,134
Building Products - 0.1%
Masco Corp.	825,122		15,422
Trane, Inc.	383,497		17,277
			32,699
Commercial Services & Supplies - 0.5%
Allied Waste Industries, Inc. (a)	647,785		6,698
Avery Dennison Corp.	238,232		12,226
Cintas Corp.	302,116		8,695
Equifax, Inc.	294,965		10,094
Monster Worldwide, Inc. (a)	286,202		7,610
Pitney Bowes, Inc.	485,247		17,362
R.R. Donnelley & Sons Co.	480,128		15,282
Robert Half International, Inc.	360,347		9,711
Waste Management, Inc.	1,137,330		37,339
			125,017
Construction & Engineering - 0.2%
Fluor Corp.	197,835		27,549
Jacobs Engineering Group, Inc. (a)(d)	270,326		21,704
			49,253
Electrical Equipment - 0.5%
Cooper Industries Ltd. Class A	402,876		16,893
Emerson Electric Co.	1,761,280		89,755
Rockwell Automation, Inc.	333,863		18,266
			124,914
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Industrial Conglomerates - 3.6%
3M Co.	1,595,718		$ 125,104
General Electric Co.	22,610,780		749,321
Textron, Inc.	557,651		30,208
Tyco International Ltd.	1,107,060		44,349
			948,982
Machinery - 1.8%
Caterpillar, Inc. (d)	1,422,843		102,914
Cummins, Inc.	456,981		23,023
Danaher Corp.	566,417		42,000
Deere & Co.	992,822		84,598
Dover Corp.	444,590		18,455
Eaton Corp.	327,767		26,428
Illinois Tool Works, Inc.	924,919		45,386
Ingersoll-Rand Co. Ltd. Class A (d)	609,507		25,514
ITT Corp.	405,648		22,814
Manitowoc Co., Inc.	290,464		11,834
PACCAR, Inc.	824,064		35,748
Pall Corp.	274,290		10,799
Parker Hannifin Corp.	376,366		24,325
Terex Corp. (a)	229,549		15,483
			489,321
Road & Rail - 0.9%
Burlington Northern Santa Fe Corp.	666,801		58,532
CSX Corp.	940,623		45,639
Norfolk Southern Corp.	866,378		45,823
Ryder System, Inc.	129,827		7,479
Union Pacific Corp.	587,573		73,306
			230,779
Trading Companies & Distributors - 0.0%
W.W. Grainger, Inc.	150,700		11,101
TOTAL INDUSTRIALS			3,069,634
INFORMATION TECHNOLOGY - 15.3%
Communications Equipment - 2.5%
Ciena Corp. (a)(d)	192,329		4,968
Cisco Systems, Inc. (a)	13,573,720		330,792
Corning, Inc.	3,525,638		81,901
JDS Uniphase Corp. (a)	491,024		6,457
Juniper Networks, Inc. (a)	1,166,984		31,299
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Communications Equipment - continued
Motorola, Inc.	5,110,747		$ 50,954
QUALCOMM, Inc.	3,661,338		155,131
Tellabs, Inc. (a)	982,551		6,465
			667,967
Computers & Peripherals - 4.3%
Apple, Inc. (a)	1,958,859		244,897
Dell, Inc. (a)	5,013,795		99,524
EMC Corp. (a)	4,694,392		72,951
Hewlett-Packard Co.	5,767,939		275,534
International Business Machines Corp. (d)	3,082,920		351,021
Lexmark International, Inc. Class A (a)(d)	211,925		7,000
Network Appliance, Inc. (a)	770,064		16,649
QLogic Corp. (a)	306,255		4,854
SanDisk Corp. (a)	510,585		12,024
Sun Microsystems, Inc. (a)	1,853,800		30,402
Teradata Corp. (a)	404,954		10,217
			1,125,073
Electronic Equipment & Instruments - 0.3%
Agilent Technologies, Inc. (a)	864,830		26,472
Jabil Circuit, Inc.	465,521		6,015
Molex, Inc.	316,721		7,136
Tyco Electronics Ltd.	1,112,378		36,597
			76,220
Internet Software & Services - 1.6%
Akamai Technologies, Inc. (a)	371,764		13,071
eBay, Inc. (a)	2,543,748		67,053
Google, Inc. Class A (sub. vtg.) (a)	517,942		244,044
VeriSign, Inc. (a)	494,342		17,203
Yahoo!, Inc. (a)	2,990,047		83,064
			424,435
IT Services - 0.8%
Affiliated Computer Services, Inc. Class A (a)	224,826		11,410
Automatic Data Processing, Inc.	1,177,251		47,031
Cognizant Technology Solutions Corp. Class A (a)	649,629		19,625
Computer Sciences Corp. (a)	366,110		15,907
Convergys Corp. (a)	291,384		4,208
Electronic Data Systems Corp.	1,145,711		19,844
Fidelity National Information Services, Inc.	381,886		15,844
Fiserv, Inc. (a)	368,343		19,382
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
IT Services - continued
Paychex, Inc.	746,139		$ 23,474
The Western Union Co.	1,680,038		34,945
Total System Services, Inc.	442,789		9,843
Unisys Corp. (a)	778,033		3,213
			224,726
Office Electronics - 0.1%
Xerox Corp.	2,068,233		30,403
Semiconductors & Semiconductor Equipment - 2.4%
Advanced Micro Devices, Inc. (a)(d)	1,350,540		9,737
Altera Corp.	751,441		12,857
Analog Devices, Inc.	678,699		18,271
Applied Materials, Inc.	3,083,256		59,106
Broadcom Corp. Class A (a)	1,052,648		19,906
Intel Corp.	13,081,585		260,978
KLA-Tencor Corp.	407,520		17,120
Linear Technology Corp.	499,993		13,855
LSI Corp. (a)(d)	1,579,373		7,960
MEMC Electronic Materials, Inc. (a)	512,596		39,101
Microchip Technology, Inc. (d)	422,414		13,002
Micron Technology, Inc. (a)(d)	1,701,284		12,794
National Semiconductor Corp.	525,694		8,658
Novellus Systems, Inc. (a)	259,853		5,738
NVIDIA Corp. (a)	1,242,988		26,588
Teradyne, Inc. (a)	388,490		4,658
Texas Instruments, Inc.	3,128,230		93,722
Xilinx, Inc.	657,760		14,708
			638,759
Software - 3.3%
Adobe Systems, Inc. (a)	1,283,745		43,198
Autodesk, Inc. (a)	516,596		16,061
BMC Software, Inc. (a)	438,087		14,141
CA, Inc.	876,721		20,059
Citrix Systems, Inc. (a)	424,430		13,976
Compuware Corp. (a)	640,326		5,097
Electronic Arts, Inc. (a)	704,696		33,325
Intuit, Inc. (a)	744,393		19,771
Microsoft Corp.	18,000,721		489,980
Novell, Inc. (a)	782,732		5,831
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Software - continued
Oracle Corp. (a)	8,822,650		$ 165,866
Symantec Corp. (a)	1,940,375		32,676
			859,981
TOTAL INFORMATION TECHNOLOGY			4,047,564
MATERIALS - 3.6%
Chemicals - 2.0%
Air Products & Chemicals, Inc.	481,889		44,011
Ashland, Inc.	125,327		5,536
Dow Chemical Co.	2,112,916		79,636
E.I. du Pont de Nemours & Co. (d)	2,011,454		93,372
Eastman Chemical Co.	181,285		11,930
Ecolab, Inc.	390,798		18,285
Hercules, Inc.	258,705		4,739
International Flavors & Fragrances, Inc.	181,970		7,848
Monsanto Co.	1,223,389		141,522
PPG Industries, Inc.	366,347		22,706
Praxair, Inc.	706,793		56,741
Rohm & Haas Co.	280,363		15,030
Sigma Aldrich Corp.	290,900		16,005
			517,361
Construction Materials - 0.1%
Vulcan Materials Co. (d)	242,069		16,969
Containers & Packaging - 0.1%
Ball Corp.	224,848		9,916
Bemis Co., Inc.	224,890		5,582
Pactiv Corp. (a)	291,932		7,392
Sealed Air Corp.	361,378		8,749
			31,639
Metals & Mining - 1.1%
Alcoa, Inc.	1,897,575		70,476
Allegheny Technologies, Inc.	228,788		17,697
Freeport-McMoRan Copper & Gold, Inc. Class B (d)	854,480		86,183
Newmont Mining Corp.	1,010,922		51,729
Nucor Corp.	644,184		41,595
Titanium Metals Corp. (d)	195,951		4,041
United States Steel Corp.	264,267		28,660
			300,381
Common Stocks - continued
	Shares		Value (000s)
MATERIALS - continued
Paper & Forest Products - 0.3%
International Paper Co.	957,880		$ 30,365
MeadWestvaco Corp.	413,333		10,606
Weyerhaeuser Co.	468,791		28,690
			69,661
TOTAL MATERIALS			936,011
TELECOMMUNICATION SERVICES - 3.2%
Diversified Telecommunication Services - 2.9%
AT&T, Inc.	13,568,780		472,601
CenturyTel, Inc.	246,962		8,938
Citizens Communications Co.	733,336		7,876
Embarq Corp.	341,882		14,339
Qwest Communications International, Inc. (d)	3,513,083		18,971
Verizon Communications, Inc.	6,466,574		234,866
Windstream Corp.	1,067,446		12,553
			770,144
Wireless Telecommunication Services - 0.3%
American Tower Corp. Class A (a)	905,531		34,809
Sprint Nextel Corp.	6,363,154		45,242
			80,051
TOTAL TELECOMMUNICATION SERVICES			850,195
UTILITIES - 3.5%
Electric Utilities - 2.0%
Allegheny Energy, Inc.	371,925		18,845
American Electric Power Co., Inc.	894,940		36,621
Duke Energy Corp.	2,821,300		49,486
Edison International	728,942		36,010
Entergy Corp.	434,880		44,680
Exelon Corp. (d)	1,476,555		110,520
FirstEnergy Corp.	682,012		46,097
FPL Group, Inc.	910,762		54,910
Pepco Holdings, Inc.	448,063		11,323
Pinnacle West Capital Corp.	224,593		7,984
PPL Corp.	832,720		37,789
Progress Energy, Inc.	579,917		24,304
Southern Co.	1,699,194		58,673
			537,242
Common Stocks - continued
	Shares		Value (000s)
UTILITIES - continued
Gas Utilities - 0.1%
Nicor, Inc. (d)	100,959		$ 3,443
Questar Corp.	386,485		21,353
			24,796
Independent Power Producers & Energy Traders - 0.3%
AES Corp. (a)	1,497,339		26,922
Constellation Energy Group, Inc.	404,180		35,709
Dynegy, Inc. Class A (a)	1,109,185		8,208
			70,839
Multi-Utilities - 1.1%
Ameren Corp.	465,382		19,872
CenterPoint Energy, Inc.	718,747		10,551
CMS Energy Corp.	503,600		7,247
Consolidated Edison, Inc.	607,467		24,839
Dominion Resources, Inc.	1,308,458		52,260
DTE Energy Co.	366,280		14,582
Integrys Energy Group, Inc.	170,627		7,837
NiSource, Inc.	613,409		10,545
PG&E Corp.	792,126		29,831
Public Service Enterprise Group, Inc.	1,137,956		50,184
Sempra Energy	584,859		31,074
TECO Energy, Inc.	471,353		7,061
Xcel Energy, Inc.	939,516		18,621
			284,504
TOTAL UTILITIES			917,381
TOTAL COMMON STOCKS (Cost $19,034,897)		26,064,137

U.S. Treasury Obligations - 0.1%
	Principal Amount (000s)
U.S. Treasury Bills, yield at date of purchase 3.21% 3/27/08 (e) (Cost $19,952)	$ 20,000	19,973

Money Market Funds - 4.6%
	Shares		Value (000s)
Fidelity Cash Central Fund, 3.24% (b)	237,729,597		$ 237,730
Fidelity Securities Lending Cash Central Fund, 3.25% (b)(c)	987,789,251		987,789
TOTAL MONEY MARKET FUNDS (Cost $1,225,519)		1,225,519
TOTAL INVESTMENT PORTFOLIO - 103.4% (Cost $20,280,368)			27,309,629
NET OTHER ASSETS - (3.4)%			(904,053)
NET ASSETS - 100%		$ 26,405,576

Futures Contracts
	Expiration Date	Underlying Face Amount at Value (000s)	Unrealized Appreciation/ (Depreciation) (000s)
Purchased
Equity Index Contracts
750 S&P 500 E-Mini Index Contracts	March 2008	$ 49,924	$ (4,866)
861 S&P 500 Index Contracts	March 2008	286,562	(8,788)
TOTAL EQUITY INDEX CONTRACTS		$ 336,486	$ (13,654)

The face value of futures purchased as a percentage of net assets - 1.3%

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $18,380,000.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned (Amounts in thousands)
Fidelity Cash Central Fund	$ 21,746
Fidelity Securities Lending Cash Central Fund	2,497
Total	$ 24,243

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Statements

Statement of Assets and Liabilities

Amounts in thousands (except per-share amounts)	February 29, 2008
Assets
Investment in securities, at value (including securities loaned of $932,851) - See accompanying schedule: Unaffiliated issuers (cost $19,054,849)	$ 26,084,110
Fidelity Central Funds (cost $1,225,519)	1,225,519
Total Investments (cost $20,280,368)		$ 27,309,629
Receivable for investments sold		5,428
Receivable for fund shares sold		46,904
Dividends receivable		60,127
Distributions receivable from Fidelity Central Funds		1,016
Other receivables		584
Total assets		27,423,688
Liabilities
Payable for investments purchased	$ 900
Payable for fund shares redeemed	18,768
Accrued management fee	1,568
Payable for daily variation on futures contracts	8,138
Other affiliated payables	521
Other payables and accrued expenses	428
Collateral on securities loaned, at value	987,789
Total liabilities		1,018,112
Net Assets		$ 26,405,576
Net Assets consist of:
Paid in capital		$ 19,410,659
Undistributed net investment income		99,068
Accumulated undistributed net realized gain (loss) on investments		(119,758)
Net unrealized appreciation (depreciation) on investments		7,015,607
Net Assets		$ 26,405,576

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Statements - continued

Statement of Assets and Liabilities - continued

Amounts in thousands (except per-share amounts)	February 29, 2008
Investor Class: Net Asset Value, offering price and redemption price per share ($20,101,714 ÷ 425,916 shares)		$ 47.20
Fidelity Advantage Class: Net Asset Value, offering price and redemption price per share ($6,303,862 ÷ 133,559 shares)		$ 47.20

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Operations

Amounts in thousands	Year ended February 29, 2008
Investment Income
Dividends		$ 551,036
Interest		1,039
Income from Fidelity Central Funds		24,243
Total income		576,318
Expenses
Management fee	$ 20,295
Transfer agent fees	6,858
Independent trustees' compensation	107
Interest	1
Miscellaneous	65
Total expenses before reductions	27,326
Expense reductions	(2,734)	24,592
Net investment income (loss)		551,726
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	151,803
Futures contracts	1,658
Total net realized gain (loss)		153,461
Change in net unrealized appreciation (depreciation) on: Investment securities	(1,726,020)
Futures contracts	(4,330)
Total change in net unrealized appreciation (depreciation)		(1,730,350)
Net gain (loss)		(1,576,889)
Net increase (decrease) in net assets resulting from operations		$ (1,025,163)

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Statements - continued

Statement of Changes in Net Assets

Amounts in thousands	Year ended February 29, 2008	Year ended February 28, 2007
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 551,726	$ 474,276
Net realized gain (loss)	153,461	279,302
Change in net unrealized appreciation (depreciation)	(1,730,350)	2,094,762
Net increase (decrease) in net assets resulting from operations	(1,025,163)	2,848,340
Distributions to shareholders from net investment income	(543,854)	(460,358)
Distributions to shareholders from net realized gain	(28,042)	-
Total distributions	(571,896)	(460,358)
Share transactions - net increase (decrease)	708,899	862,483
Total increase (decrease) in net assets	(888,160)	3,250,465
Net Assets
Beginning of period	27,293,736	24,043,271
End of period (including undistributed net investment income of $99,068 and undistributed net investment income of $91,080, respectively)	$ 26,405,576	$ 27,293,736

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Investor Class

Years ended February 28,	2008 G	2007	2006	2005	2004 G
Selected Per-Share Data
Net asset value, beginning of period	$ 49.94	$ 45.45	$ 42.68	$ 40.67	$ 29.87
Income from Investment Operations
Net investment income (loss) B	.99	.88	.77	.77 E	.55
Net realized and unrealized gain (loss)	(2.71)	4.47	2.75	1.98	10.79
Total from investment operations	(1.72)	5.35	3.52	2.75	11.34
Distributions from net investment income	(.97)	(.86)	(.75)	(.74)	(.54)
Distributions from net realized gain	(.05)	-	-	-	-
Total distributions	(1.02)	(.86)	(.75)	(.74)	(.54)
Net asset value, end of period	$ 47.20	$ 49.94	$ 45.45	$ 42.68	$ 40.67
Total Return A	(3.66)%	11.90%	8.36%	6.85%	38.29%
Ratios to Average Net Assets C, F
Expenses before reductions	.10%	.10%	.10%	.40%	.40%
Expenses net of fee waivers, if any	.10%	.10%	.10%	.14%	.19%
Expenses net of all reductions	.09%	.09%	.09%	.14%	.19%
Net investment income (loss)	1.90%	1.87%	1.79%	1.91% E	1.55%
Supplemental Data
Net assets, end of period (in millions)	$ 20,102	$ 22,206	$ 20,619	$ 21,133	$ 18,562
Portfolio turnover rate D	7%	7%	6%	5%	5%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^D Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^E Investment income per share reflects a special dividend which amounted to $.12 per share. Excluding the special dividend, the ratio of net investment income (loss) to average net assets would have been 1.61%.

^F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

^G For the year ended February 29.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Class

Years ended February 28,	2008 I	2007	2006 G
Selected Per-Share Data
Net asset value, beginning of period	$ 49.94	$ 45.45	$ 42.01
Income from Investment Operations
Net investment income (loss) D	1.00	.90	.33
Net realized and unrealized gain (loss)	(2.70)	4.46	3.33
Total from investment operations	(1.70)	5.36	3.66
Distributions from net investment income	(.99)	(.87)	(.22)
Distributions from net realized gain	(.05)	-	-
Total distributions	(1.04)	(.87)	(.22)
Net asset value, end of period	$ 47.20	$ 49.94	$ 45.45
Total Return B, C	(3.63)%	11.93%	8.73%
Ratios to Average Net Assets E, H
Expenses before reductions	.07%	.07%	.07% A
Expenses net of fee waivers, if any	.07%	.07%	.07% A
Expenses net of all reductions	.06%	.06%	.07% A
Net investment income (loss)	1.92%	1.89%	1.96% A
Supplemental Data
Net assets, end of period (in millions)	$ 6,304	$ 5,088	$ 3,425
Portfolio turnover rate F	7%	7%	6%

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G For the period October 14, 2005 (commencement of sale of shares) to February 28, 2006.

^H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

^I For the year ended February 29.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Notes to Financial Statements

For the period ended February 29, 2008

(Amounts in thousands except ratios)

1. Organization.

Spartan U.S. Equity Index Fund (the Fund) is a fund of Fidelity Concord Street Trust (the trust) and is authorized to issue an unlimited number of shares. The trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Investor Class and Fidelity Advantage Class shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. The Fund offers conversion privileges between share classes to eligible shareholders. Investment income, realized and unrealized capital gains and losses, the common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated on a pro rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent fees incurred. Certain expense reductions also differ by class.

2. Investments in Fidelity Central Funds.

The Fund may invest in Fidelity Central Funds, which are open-end investment companies available only to other investment companies and accounts managed by Fidelity Management & Research Company (FMR) and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of FMR.

A complete list of holdings for each Fidelity Central Fund is available upon request or at the SEC's web site at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's web site or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The following summarizes the significant accounting policies of the Fund:

Annual Report

Notes to Financial Statements - continued

(Amounts in thousands except ratios)

3. Significant Accounting Policies - continued

Security Valuation. Investments are valued and net asset value (NAV) per share is calculated (NAV calculation) as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Wherever possible, the Fund uses independent pricing services approved by the Board of Trustees to value its investments.

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent pricing service on the primary market or exchange on which they are traded. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value.

When current market prices or quotations are not readily available or do not accurately reflect fair value, valuations may be determined in accordance with procedures adopted by the Board of Trustees. For example, when developments occur between the close of a market and the close of the NYSE that may materially affect the value of some or all of the securities, or when trading in a security is halted, those securities may be fair valued. Factors used in the determination of fair value may include monitoring news to identify significant market or security specific events such as changes in the value of U.S. securities markets, reviewing developments in foreign markets and evaluating the performance of ADRs, futures contracts and exchange-traded funds. Because the Fund's utilization of fair value pricing depends on market activity, the frequency with which fair value pricing is used cannot be predicted and may be utilized to a significant extent. The value of securities used for NAV calculation under fair value pricing may differ from published prices for the same securities.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV for processing shareholder transactions includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain.

Annual Report

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

The Fund estimates the components of distributions received that may be considered return of capital distributions or capital gain distributions. Interest income and distributions from the Fidelity Central Funds are accrued as earned. Interest income includes coupon interest and amortization of premium and accretion of discount on debt securities.

Expenses. Most expenses of the trust can be directly attributed to a fund. Expenses which cannot be directly attributed are apportioned among each Fund in the trust. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Deferred Trustee Compensation. Under a Deferred Compensation Plan (the Plan), Independent Trustees must defer receipt of a portion of, and may elect to defer receipt of an additional portion of, their annual compensation. Deferred amounts are invested in a cross-section of Fidelity funds, are marked-to-market and remain in the Fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees are included in the accompanying Statement of Assets and Liabilities.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company by distributing substantially all of its taxable income and realized gains under Subchapter M of the Internal Revenue Code and filing its U.S. federal tax return. As a result, no provision for income taxes is required. The Fund adopted the provisions of FASB Interpretation No. 48, Accounting for Uncertainties in Income Taxes (FIN 48), on June 29, 2007. FIN 48 sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. The implementation of FIN 48 did not result in any unrecognized tax benefits in the accompanying financial statements. The Fund's federal tax returns for the prior three fiscal years remains subject to examination by the Internal Revenue Service.

Distributions are recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. In addition, the Fund will claim a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences will reverse in a subsequent period.

Annual Report

Notes to Financial Statements - continued

(Amounts in thousands except ratios)

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Book-tax differences are primarily due to futures transactions, redemptions in kind, deferred trustees compensation, capital loss carryforwards, and losses deferred due to wash sales and excise tax regulations.

The tax-basis components of distributable earnings and the federal tax cost as of period end were as follows:

Unrealized appreciation	$ 9,589,017
Unrealized depreciation	(2,652,056)
Net unrealized appreciation (depreciation)	6,936,961
Undistributed ordinary income	99,504
Cost for federal income tax purposes	$ 20,372,668

The tax character of distributions paid was as follows:

	February 29, 2008	February 28, 2007
Ordinary Income	$ 543,854	$ 460,358
Long-term Capital Gains	28,042	-
Total	$ 571,896	$ 460,358

New Accounting Pronouncements. In September 2006, Statement of Financial Accounting Standards No. 157, Fair Value Measurements (SFAS 157), was issued and is effective for fiscal years beginning after November 15, 2007. SFAS 157 defines fair value, establishes a framework for measuring fair value and results in expanded disclosures about fair value measurements.

In addition, in March 2008, Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities (SFAS 161), was issued and is effective for fiscal years beginning after November 15, 2008. SFAS 161 requires enhanced disclosures to provide information about the reasons the Fund invests in derivative instruments, the accounting treatment and the affect derivatives have on financial performance. Management is currently evaluating the impact the adoption of SFAS 161 will have on the Fund's financial statement disclosures.

4. Operating Policies.

Repurchase Agreements. FMR has received an Exemptive Order from the Securities and Exchange Commission (the SEC) which permits the Fund and other affiliated entities of FMR to transfer uninvested cash balances into joint trading accounts which are then invested in repurchase agreements. The Fund may also invest directly with institutions in repurchase agreements. Repurchase agreements are collateralized by

Annual Report

4. Operating Policies - continued

Repurchase Agreements - continued

government or non-government securities. Upon settlement date, collateral is held in segregated accounts with custodian banks and may be obtained in the event of a default of the counterparty. The Fund monitors, on a daily basis, the value of the collateral to ensure it is at least equal to the principal amount of the repurchase agreement (including accrued interest). In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the value of the collateral may decline.

Futures Contracts. The Fund may use futures contracts to manage its exposure to the stock market. Buying futures tends to increase a fund's exposure to the underlying instrument, while selling futures tends to decrease a fund's exposure to the underlying instrument or hedge other fund investments. Upon entering into a futures contract, a fund is required to deposit with a clearing broker, no later than the following business day, an amount ("initial margin") equal to a certain percentage of the face value of the contract. The initial margin may be in the form of cash or securities and is transferred to a segregated account on settlement date. Subsequent payments ("variation margin") are made or received by a fund depending on the daily fluctuations in the value of the futures contract and are accounted for as unrealized gains or losses. Realized gains (losses) are recorded upon the expiration or closing of the futures contract. Securities deposited to meet margin requirements are identified in the Schedule of Investments. Futures contracts involve, to varying degrees, risk of loss in excess of any futures variation margin reflected in the Statement of Assets and Liabilities. The underlying face amount at value of any open futures contracts at period end is shown in the Schedule of Investments under the caption "Futures Contracts." This amount reflects each contract's exposure to the underlying instrument at period end. Losses may arise from changes in the value of the underlying instruments or if the counterparties do not perform under the contract's terms. Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $2,829,339 and $1,853,827, respectively.

Securities delivered through in-kind redemptions aggregated $82,742. Realized gain (loss) of $57,566 on securities delivered through in-kind redemptions is included in the accompanying Statement of Operations as realized gain or loss on investment securities and is not taxable to the Fund.

Annual Report

Notes to Financial Statements - continued

(Amounts in thousands except ratios)

6. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. FMR and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is based on an annual rate of .07% of average net assets. Under the management contract, FMR pays all other fund-level expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense. In addition, under the expense contract, FMR pays class-level expenses of Investor Class and Fidelity Advantage Class so that total expenses do not exceed .10% and .07% of the class's average net assets, respectively, with certain exceptions.

Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by FMR for providing these services.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of FMR, is the Fund's transfer, dividend disbursing and shareholder servicing agent. FIIOC receives asset-based fees of .06% and .03% of average net assets for the Investor Class and Fidelity Advantage Class, respectively. Under the expense contract, the Investor Class pays transfer agent fees at an annual rate of .03%, and the Fidelity Advantage Class pays no transfer agent fees. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Interfund Lending Program. Pursuant to an Exemptive Order issued by the SEC, the Fund, along with other registered investment companies having management contracts with FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the funds to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. The Fund's activity in this program during the period for which loans were outstanding was as follows:

Borrower or Lender	Average Daily Loan Balance	Weighted Average Interest Rate	Interest Expense
Borrower	$ 5,732	4.55%	$ 1

7. Committed Line of Credit.

The Fund participates with other funds managed by FMR in a $4.2 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro rata portion of the line of credit, which amounted to $65 and is reflected in Miscellaneous Expense on the Statement of Operations. During the period, there were no borrowings on this line of credit.

Annual Report

8. Security Lending.

The Fund lends portfolio securities from time to time in order to earn additional income. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less fees and expenses associated with the loan, plus any premium payments that may be received on the loan of certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Net income from lending portfolio securities during the period amounted to $2,497.

9. Expense Reductions.

Through arrangements with the Fund's custodian and each class' transfer agent, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's management fee by $165 and reduced transfer agent fee by $2,569.

10. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

Annual Report

Notes to Financial Statements - continued

(Amounts in thousands except ratios)

11. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

Years ended February 28,	2008A	2007
From net investment income
Investor Class	427,649	384,752
Fidelity Advantage Class	116,205	75,606
Total	$ 543,854	$ 460,358
From net realized gain
Investor Class	21,850	-
Fidelity Advantage Class	6,192	-
Total	$ 28,042	$ -

^A For the year ended February 29.

12. Share Transactions.

Transactions for each class of shares were as follows:

	Shares		Dollars
Years ended February 28,	2008A	2007	2008A	2007
Investor Class
Shares sold	95,669	97,925	$ 4,953,133	$ 4,656,371
Reinvestment of distributions	8,418	8,100	446,829	381,810
Shares redeemed	(122,850)	(114,995)	(6,265,124)	(5,446,297)
Net increase (decrease)	(18,763)	(8,970)	$ (865,162)	$ (408,116)
Fidelity Advantage Class
Shares sold	56,051	45,458	$ 2,826,514	$ 2,163,291
Reinvestment of distributions	2,210	1,537	117,544	72,714
Shares redeemed	(26,586)	(20,453)	(1,369,997)	(965,406)
Net increase (decrease)	31,675	26,542	$ 1,574,061	$ 1,270,599

^A For the year ended February 29.

Annual Report

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Concord Street Trust and the Shareholders of Spartan U.S. Equity Index Fund:

In our opinion, the accompanying statement of assets and liabilities, including the schedule of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Spartan U.S. Equity Index Fund (a fund of Fidelity Concord Street Trust) at February 29, 2008, 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 then ended and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Spartan U.S. Equity Index Fund's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at February 29, 2008 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Boston, Massachusetts

April 22, 2008

Annual Report

Trustees and Officers

The Trustees, Members of the Advisory Board, and executive officers of the trust and fund, as applicable, are listed below. The Board of Trustees governs the fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee the fund's activities, review contractual arrangements with companies that provide services to the fund, and review the fund's performance. Except for James C. Curvey, each of the Trustees oversees 376 funds advised by FMR or an affiliate. Mr. Curvey oversees 371 funds advised by FMR or an affiliate.

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) (Independent Trustee), shall retire not later than the last day of the calendar year in which his or her 72nd birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. The executive officers and Advisory Board Members hold office without limit in time, except that any officer and Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.

The fund's Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544.

Interested Trustees*:

Correspondence intended for each Trustee who is an interested person may be sent to Fidelity Investments, 82 Devonshire Street, Boston, Massachusetts 02109.

Name, Age; Principal Occupation
Edward C. Johnson 3d (77)
	Year of Election or Appointment: 1987 Mr. Johnson is Chairman of the Board of Trustees. Mr. Johnson serves as President (2006-present), Chief Executive Officer, Chairman, and a Director of FMR LLC; Chairman and a Director of FMR; Chairman and a Director of Fidelity Research & Analysis Company (FRAC); Chairman and a Director of Fidelity Investments Money Management, Inc.; and Chairman (2001-present) and a Director of FMR Co., Inc. In addition, Mr. Johnson serves as Chairman and Director of FIL Limited. Mr. Edward C. Johnson 3d and Mr. Arthur E. Johnson are not related.
James C. Curvey (72)
	Year of Election or Appointment: 2007 Mr. Curvey also serves as Trustee (2007-present) or Member of the Advisory Board (2007-present) of other investment companies advised by FMR. Mr. Curvey is a Director of FMR and FMR Co., Inc. (2007-present). Mr. Curvey is also Vice Chairman (2006-present) and Director of FMR LLC. Mr. Curvey joined Fidelity in 1982 and served in numerous senior management positions, including President and Chief Operating Officer of FMR LLC (1997-2000) and President of Fidelity Strategic Investments (2000-2002). In addition, he serves as a member of the Board of Directors of Geerlings & Wade, Inc. (wine distribution).

* Trustees have been determined to be "Interested Trustees" by virtue of, among other things, their affiliation with the trust or various entities under common control with FMR. FMR Corp. merged with and into FMR LLC on October 1, 2007. Any references to FMR LLC for prior periods are deemed to be references to the prior entity.

Independent Trustees:

Correspondence intended for each Independent Trustee (that is, the Trustees other than the Interested Trustees) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Age; Principal Occupation
Dennis J. Dirks (59)
	Year of Election or Appointment: 2005 Prior to his retirement in May 2003, Mr. Dirks was Chief Operating Officer and a member of the Board of The Depository Trust & Clearing Corporation (DTCC) (1999-2003). He also served as President, Chief Operating Officer, and Board member of The Depository Trust Company (DTC) (1999-2003) and President and Board member of the National Securities Clearing Corporation (NSCC) (1999-2003). In addition, Mr. Dirks served as Chief Executive Officer and Board member of the Government Securities Clearing Corporation (2001-2003) and Chief Executive Officer and Board member of the Mortgage-Backed Securities Clearing Corporation (2001-2003). Mr. Dirks also serves as a Trustee and a member of the Finance Committee of Manhattan College (2005-present) and a Trustee and a member of the Finance Committee of AHRC of Nassau County (2006-present).
Albert R. Gamper, Jr. (65)
	Year of Election or Appointment: 2006 Prior to his retirement in December 2004, Mr. Gamper served as Chairman of the Board of CIT Group Inc. (commercial finance). During his tenure with CIT Group Inc. Mr. Gamper served in numerous senior management positions, including Chairman (1987-1989; 1999-2001; 2002-2004), Chief Executive Officer (1987-2004), and President (1989-2002). He currently serves as a member of the Board of Directors of Public Service Enterprise Group (utilities, 2001-present), Chairman of the Board of Governors, Rutgers University (2004-present), and Chairman of the Board of Saint Barnabas Health Care System.
George H. Heilmeier (71)
	Year of Election or Appointment: 2004 Dr. Heilmeier is Chairman Emeritus of Telcordia Technologies (communication software and systems), where prior to his retirement, he served as company Chairman and Chief Executive Officer. He currently serves on the Boards of Directors of The Mitre Corporation (systems engineering and information technology support for the government), and HRL Laboratories (private research and development, 2004-present). He is Chairman of the General Motors Science & Technology Advisory Board and a Life Fellow of the Institute of Electrical and Electronics Engineers (IEEE). Dr. Heilmeier is a member of the Defense Science Board and the National Security Agency Advisory Board. He is also a member of the National Academy of Engineering, the American Academy of Arts and Sciences, and the Board of Overseers of the School of Engineering and Applied Science of the University of Pennsylvania. Previously, Dr. Heilmeier served as a Director of TRW Inc. (automotive, space, defense, and information technology, 1992-2002), Compaq (1994-2002), Automatic Data Processing, Inc. (ADP) (technology-based business outsourcing, 1995-2002), INET Technologies Inc. (telecommunications network surveillance, 2001-2004), and Teletech Holdings (customer management services). He is the recipient of the 2005 Kyoto Prize in Advanced Technology for his invention of the liquid crystal display, and a member of the Consumer Electronics Hall of Fame.
James H. Keyes (67)
	Year of Election or Appointment: 2007 Prior to his retirement in 2003, Mr. Keyes was Chairman, President, and Chief Executive Officer of Johnson Controls, Inc. (automotive supplier, 1993-2003). He currently serves as a member of the boards of LSI Logic Corporation (semiconductor technologies), Navistar International Corporation (manufacture and sale of trucks, buses, and diesel engines, 2002-present), and Pitney Bowes, Inc. (integrated mail, messaging, and document management solutions).
Marie L. Knowles (61)
	Year of Election or Appointment: 2001 Prior to Ms. Knowles' retirement in June 2000, she served as Executive Vice President and Chief Financial Officer of Atlantic Richfield Company (ARCO) (diversified energy, 1996-2000). From 1993 to 1996, she was a Senior Vice President of ARCO and President of ARCO Transportation Company. She served as a Director of ARCO from 1996 to 1998. She currently serves as a Director of Phelps Dodge Corporation (copper mining and manufacturing) and McKesson Corporation (healthcare service, 2002-present). Ms. Knowles is a Trustee of the Brookings Institution and the Catalina Island Conservancy and also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California.
Ned C. Lautenbach (64)
	Year of Election or Appointment: 2000 Mr. Lautenbach is Chairman of the Independent Trustees (2006-present). Mr. Lautenbach has been a partner of Clayton, Dubilier & Rice, Inc. (private equity investment firm) since September 1998. Previously, Mr. Lautenbach was with the International Business Machines Corporation (IBM) from 1968 until his retirement in 1998. Mr. Lautenbach serves as a Director of Sony Corporation (2006-present) and Eaton Corporation (diversified industrial) as well as the Philharmonic Center for the Arts in Naples, Florida. He also is a member of the Board of Trustees of Fairfield University (2005-present), as well as a member of the Council on Foreign Relations.
Cornelia M. Small (63)
	Year of Election or Appointment: 2005 Ms. Small is a member (2000-present) and Chairperson (2002-present) of the Investment Committee, and a member (2002-present) of the Board of Trustees of Smith College. Previously, she served as Chief Investment Officer (1999-2000), Director of Global Equity Investments (1996-1999), and a member of the Board of Directors of Scudder, Stevens & Clark (1990-1997) and Scudder Kemper Investments (1997-1999). In addition, Ms. Small served as Co-Chair (2000-2003) of the Annual Fund for the Fletcher School of Law and Diplomacy.
William S. Stavropoulos (68)
	Year of Election or Appointment: 2001 Mr. Stavropoulos is Chairman Emeritus of the Board of Directors of The Dow Chemical Company. Since joining The Dow Chemical Company in 1967, Mr. Stavropoulos served in numerous senior management positions, including President (1993-2000; 2002-2003), CEO (1995-2000; 2002-2004), and Chairman of the Executive Committee (2000-2004). Currently, he is a Director of NCR Corporation (data warehousing and technology solutions), Chemical Financial Corporation, Maersk Inc. (industrial conglomerate, 2002-present), Tyco International, Inc. (multinational manufacturing and services, 2007-present), and a member of the Advisory Board for Metalmark Capital (private equity investment firm, 2005-present). He is a special advisor to Clayton, Dubilier & Rice, Inc., a private equity investment firm. He also serves as a member of the Board of Trustees of the American Enterprise Institute for Public Policy Research. In addition, Mr. Stavropoulos is a member of The Business Council, J.P. Morgan International Council and the University of Notre Dame Advisory Council for the College of Science.
Kenneth L. Wolfe (69)
	Year of Election or Appointment: 2005 Mr. Wolfe is Chairman and a Director of Hershey Foods Corporation (2007-present), where prior to his retirement in 2001, he was Chairman and Chief Executive Officer. Mr. Wolfe currently serves as a member of the board of Revlon Inc. (2004-present). Previously, Mr. Wolfe served as a member of the boards of Adelphia Communications Corporation (2003-2006) and Bausch & Lomb, Inc. (1993-2007).

Advisory Board Members and Executive Officers**:

Correspondence intended for Mr. Mauriello, Mr. Thomas, Mr. Wiley, Mr. Lacy, and Mr. Arthur Johnson may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235. Correspondence intended for each executive officer and Mr. Lynch may be sent to Fidelity Investments, 82 Devonshire Street, Boston, Massachusetts 02109.

Annual Report

Trustees and Officers - continued

Name, Age; Principal Occupation
Arthur E. Johnson (61)
	Year of Election or Appointment: 2008 Member of the Advisory Board of Fidelity Concord Street Trust. Mr. Johnson serves as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor). In addition, Mr. Johnson serves as a member of the Board of Directors of AGL Resources, Inc. (holding company, 2002-present), and IKON Office Solutions, Inc. (document management systems and services). Mr. Arthur E. Johnson and Mr. Edward C. Johnson 3d are not related.
Alan J. Lacy (54)
	Year of Election or Appointment: 2008 Member of the Advisory Board of Fidelity Concord Street Trust. Mr. Lacy serves as Senior Adviser (2007-present) of Oak Hill Capital Partners, L.P. (a private equity firm). Mr. Lacy also served as Vice Chairman and Chief Executive Officer of Sears Holdings Corporation and Sears, Roebuck and Co. (retail, 2005-2006; 2000-2005). In addition, Mr. Lacy serves as a member of the Board of Directors of The Western Union Company (global money transfer, 2006-present) and Bristol-Myers Squibb (global pharmaceuticals, 2007-present). Mr. Lacy is a Trustee of the National Parks Conservation Association and The Field Museum of Natural History.
Peter S. Lynch (64)
	Year of Election or Appointment: 2003 Member of the Advisory Board of Fidelity Concord Street Trust. Mr. Lynch is Vice Chairman and a Director of FMR, and Vice Chairman (2001-present) and a Director of FMR Co., Inc. Previously, Mr. Lynch served as a Trustee of the Fidelity funds (1990-2003). In addition, he serves as a Trustee of Boston College and as the Chairman of the Inner-City Scholarship Fund.
Joseph Mauriello (63)
	Year of Election or Appointment: 2007 Member of the Advisory Board of Fidelity Concord Street Trust. Prior to his retirement in January 2006, Mr. Mauriello served in numerous senior management positions including Deputy Chairman and Chief Operating Officer (2004-2005), and Vice Chairman of Financial Services (2002-2004) of KPMG LLP US (professional services firm, 1965-2005). Mr. Mauriello currently serves as a member of the Board of Directors of XL Capital Ltd. (global insurance and re-insurance company, 2006-present) and of Arcadia Resources Inc. (health care services and products, 2007-present). He also served as a Director of the Hamilton Funds of the Bank of New York (2006-2007).
David M. Thomas (58)
	Year of Election or Appointment: 2007 Member of the Advisory Board of Fidelity Concord Street Trust. Previously, Mr. Thomas served as Executive Chairman (2005-2006) and Chairman and Chief Executive Officer (2000-2005) of IMS Health, Inc. (pharmaceutical and healthcare information solutions). In addition, Mr. Thomas serves as a member of the Board of Directors of Fortune Brands, Inc. (consumer products holding company), and Interpublic Group of Companies, Inc. (marketing communication, 2004-present).
Michael E. Wiley (57)
	Year of Election or Appointment: 2007 Member of the Advisory Board of Fidelity Concord Street Trust. Mr. Wiley also serves as a member of the Board of Trustees of the University of Tulsa (2000-2006; 2007-present). He serves as a Director of Tesoro Corporation (independent oil refiner and marketer, 2005-present), and a Director of Bill Barrett Corporation (exploration and production company, 2005-present). In addition, he also serves as a Director of Post Oak Bank (privately-held bank, 2004-present). Previously, Mr. Wiley served as a Sr. Energy Advisor of Katzenbach Partners, LLC (consulting firm, 2006-2007), as an Advisory Director of Riverstone Holdings (private investment firm), Chairman, President, and CEO of Baker Hughes, Inc. (oilfield services company, 2000-2004), and as Director of Spinnaker Exploration Company (exploration and production company, 2001-2005).
Kimberley H. Monasterio (44)
	Year of Election or Appointment: 2007 President and Treasurer of Spartan U.S. Equity Index. Ms. Monasterio also serves as President and Treasurer of other Fidelity funds (2007-present) and is an employee of FMR (2004-present). Previously, Ms. Monasterio served as Deputy Treasurer of the Fidelity funds (2004-2006). Before joining Fidelity Investments, Ms. Monasterio served as Treasurer (2000-2004) and Chief Financial Officer (2002-2004) of the Franklin Templeton Funds and Senior Vice President of Franklin Templeton Services, LLC (2000-2004).
Walter C. Donovan (45)
	Year of Election or Appointment: 2007 Vice President of Spartan U.S. Equity Index. Mr. Donovan also serves as Vice President of Fidelity's Equity Funds (2007-present). Mr. Donovan also serves as Executive Vice President of FMR (2005-present) and FMR Co., Inc. (2005-present). Previously, Mr. Donovan served as Vice President of Fidelity's High Income Funds (2005-2007), Fixed-Income Funds (2005-2006), certain Asset Allocation Funds (2005-2006), certain Balanced Funds (2005-2006), and as Vice President and Director of Fidelity's International Equity Trading group (1998-2005).
Eric D. Roiter (59)
	Year of Election or Appointment: 1998 Secretary of Spartan U.S. Equity Index. He also serves as Secretary of other Fidelity funds; Vice President, General Counsel, and Secretary of FMR Co., Inc. (2001-present) and FMR; Assistant Secretary of Fidelity Management & Research (U.K.) Inc. (2001-present), Fidelity Research & Analysis Company (2001-present), and Fidelity Investments Money Management, Inc. (2001-present). Mr. Roiter is an Adjunct Member, Faculty of Law, at Boston College Law School (2003-present). Previously, Mr. Roiter served as Vice President and Secretary of Fidelity Distributors Corporation (FDC) (1998-2005).
John B. McGinty, Jr. (45)
	Year of Election or Appointment: 2008 Assistant Secretary of Spartan U.S. Equity Index. Mr. McGinty also serves as Assistant Secretary of other Fidelity funds (2008-present) and is an employee of FMR LLC (2004-present). Mr. McGinty also serves as Senior Vice President, Secretary, and Chief Legal Officer of FDC (2007-present). Before joining Fidelity Investments, Mr. McGinty practiced law at Ropes & Gray, LLP.
R. Stephen Ganis (41)
	Year of Election or Appointment: 2006 Anti-Money Laundering (AML) officer of Spartan U.S. Equity Index. Mr. Ganis also serves as AML officer of other Fidelity funds (2006-present) and FMR LLC (2003-present). Before joining Fidelity Investments, Mr. Ganis practiced law at Goodwin Procter, LLP (2000-2002).
Joseph B. Hollis (59)
	Year of Election or Appointment: 2006 Chief Financial Officer of Spartan U.S. Equity Index. Mr. Hollis also serves as Chief Financial Officer of other Fidelity funds. Mr. Hollis is President of Fidelity Pricing and Cash Management Services (FPCMS) (2005-present). Mr. Hollis also serves as President and Director of Fidelity Service Company, Inc. (2006-present). Previously, Mr. Hollis served as Senior Vice President of Cash Management Services (1999-2002) and Investment Management Operations (2002-2005).
Kenneth A. Rathgeber (60)
	Year of Election or Appointment: 2004 Chief Compliance Officer of Spartan U.S. Equity Index. Mr. Rathgeber also serves as Chief Compliance Officer of other Fidelity funds (2004-present) and Executive Vice President of Risk Oversight for Fidelity Investments (2002-present). He is Chief Compliance Officer of FMR (2005-present), FMR Co., Inc. (2005-present), Fidelity Management & Research (U.K.) Inc. (2005-present), Fidelity Research & Analysis Company (2005-present), Fidelity Investments Money Management, Inc. (2005-present), and Strategic Advisers, Inc. (2005-present). Previously, Mr. Rathgeber served as Executive Vice President and Chief Operating Officer for Fidelity Investments Institutional Services Company, Inc. (1998-2002).
Bryan A. Mehrmann (46)
	Year of Election or Appointment: 2005 Deputy Treasurer of Spartan U.S. Equity Index. Mr. Mehrmann also serves as Deputy Treasurer of other Fidelity funds (2005-present) and is an employee of FMR. Previously, Mr. Mehrmann served as Vice President of Fidelity Investments Institutional Services Group (FIIS)/Fidelity Investments Institutional Operations Corporation, Inc. (FIIOC) Client Services (1998-2004).
Kenneth B. Robins (38)
	Year of Election or Appointment: 2005 Deputy Treasurer of Spartan U.S. Equity Index. Mr. Robins also serves as Deputy Treasurer of other Fidelity funds (2005-present) and is an employee of FMR (2004-present). Before joining Fidelity Investments, Mr. Robins worked at KPMG LLP, where he was a partner in KPMG's department of professional practice (2002-2004) and a Senior Manager (1999-2000). In addition, Mr. Robins served as Assistant Chief Accountant, United States Securities and Exchange Commission (2000-2002).
Robert G. Byrnes (41)
	Year of Election or Appointment: 2005 Assistant Treasurer of Spartan U.S. Equity Index. Mr. Byrnes also serves as Assistant Treasurer of other Fidelity funds (2005-present) and is an employee of FMR (2005-present). Previously, Mr. Byrnes served as Vice President of FPCMS (2003-2005). Before joining Fidelity Investments, Mr. Byrnes worked at Deutsche Asset Management where he served as Vice President of the Investment Operations Group (2000-2003).
Peter L. Lydecker (54)
	Year of Election or Appointment: 2004 Assistant Treasurer of Spartan U.S. Equity Index. Mr. Lydecker also serves as Assistant Treasurer of other Fidelity funds (2004) and is an employee of FMR.
Paul M. Murphy (60)
	Year of Election or Appointment: 2007 Assistant Treasurer of Spartan U.S. Equity Index. Mr. Murphy also serves as Assistant Treasurer of other Fidelity funds (2007-present) and is an employee of FMR (2007-present). Previously, Mr. Murphy served as Chief Financial Officer of the Fidelity Funds (2005-2006), Vice President and Associate General Counsel of FMR (2007), and Senior Vice President of Fidelity Pricing and Cash Management Services Group (FPCMS) (1994-2007).
Gary W. Ryan (49)
	Year of Election or Appointment: 2005 Assistant Treasurer of Spartan U.S. Equity Index. Mr. Ryan also serves as Assistant Treasurer of other Fidelity funds (2005-present) and is an employee of FMR (2005-present). Previously, Mr. Ryan served as Vice President of Fund Reporting in FPCMS (1999-2005).

** FMR Corp. merged with and into FMR LLC on October 1, 2007. Any references to FMR LLC for prior periods are deemed to be references to the prior entity.

Annual Report

Distributions

The fund hereby designates as a capital gain dividend with respect to the taxable year ended February 29, 2008, $54,789,291, or, if subsequently determined to be different, the net capital gain of such year.

A total of 0.19% of the dividends distributed during the fiscal year was derived from interest on U.S. Government securities which is generally exempt from state income tax.

Investor class designates 99%, 98%, 98%, and 98%; Advantage class designates 97% of the dividends distributed in April, July, October, and December, respectively during the fiscal year as qualifying for the dividends-received deduction for corporate shareholders.

Investor class designates 100% of the dividends distributed during the fiscal year; Advantage class designates 99%, 98%, 98%, and 98% of each dividend distributed in April, July, October, and December respectively during the fiscal year as amounts which may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

The fund will notify shareholders in January 2009 of amounts for use in preparing 2008 income tax returns.

Annual Report

Proxy Voting Results

A special meeting of shareholders was held on December 13, 2007. The results of votes taken among shareholders on the proposals before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.

PROPOSAL 1
To amend the Declaration of Trust to reduce the required quorum for shareholder meetings.A
	# of Votes	% of Votes
Affirmative	19,154,315,675.67	76.651
Against	4,609,247,880.96	18.446
Abstain	965,873,543.48	3.864
Broker Non-Votes	259,452,905.63	1.039
TOTAL	24,988,890,005.74	100.000
PROPOSAL 2
To elect a Board of Trustees.A
James C. Curvey
Affirmative	23,704,780,943.95	94.861
Withheld	1,284,109,061.79	5.139
TOTAL	24,988,890,005.74	100.000
Dennis J. Dirks
Affirmative	23,781,622,687.42	95.169
Withheld	1,207,267,318.32	4.831
TOTAL	24,988,890,005.74	100.000
Albert R. Gamper, Jr.
Affirmative	23,767,840,259.18	95.114
Withheld	1,221,049,746.56	4.886
TOTAL	24,988,890,005.74	100.000
George H. Heilmeier
Affirmative	23,737,496,011.43	94.992
Withheld	1,251,393,994.31	5.008
TOTAL	24,988,890,005.74	100.000
Edward C. Johnson 3d
Affirmative	23,600,952,366.46	94.446
Withheld	1,387,937,639.28	5.554
TOTAL	24,988,890,005.74	100.000
James H. Keyes
Affirmative	23,763,258,549.78	95.095
Withheld	1,225,631,455.96	4.905
TOTAL	24,988,890,005.74	100.000
Marie L. Knowles
Affirmative	23,753,447,780.84	95.056
Withheld	1,235,442,224.90	4.944
TOTAL	24,988,890,005.74	100.000
Ned C. Lautenbach
Affirmative	23,763,228,852.04	95.095
Withheld	1,225,661,153.70	4.905
TOTAL	24,988,890,005.74	100.000
Cornelia M. Small
Affirmative	23,766,490,777.77	95.108
Withheld	1,222,399,227.97	4.892
TOTAL	24,988,890,005.74	100.000
William S. Stavropoulos
Affirmative	23,740,913,140.79	95.006
Withheld	1,247,976,864.95	4.994
TOTAL	24,988,890,005.74	100.000
Kenneth L. Wolfe
Affirmative	23,760,336,636.65	95.084
Withheld	1,228,553,369.09	4.916
TOTAL	24,988,890,005.74	100.000

^A Denotes trust-wide proposal and voting results.

Annual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Adviser

FMR Co., Inc.

Geode Capital Management, LLC

General Distributor

Fidelity Distributors Corporation

Boston, MA

Transfer and Service Agents

Fidelity Investments Institutional

Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

Mellon Bank, N.A.

Pittsburgh, PA

UEI-UANN-0408
1.790915.104

(Fidelity Investment logo)(registered trademark)
Corporate Headquarters
82 Devonshire St., Boston, MA 02109
www.fidelity.com

Item 2. Code of Ethics

As of the end of the period, February 29, 2008, Fidelity Concord Street Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

Item 3. Audit Committee Financial Expert

The Board of Trustees of the trust has determined that Marie L. Knowles is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Ms. Knowles is independent for purposes of Item 3 of Form N-CSR.

Item 4. Principal Accountant Fees and Services

(a) Audit Fees.

For the fiscal years ended February 29, 2008 and February 28, 2007, the aggregate Audit Fees billed by PricewaterhouseCoopers LLP (PwC) for professional services rendered for the audits of the financial statements, or services that are normally provided in connection with statutory and regulatory filings or engagements for those fiscal years, for the Spartan Extended Market Index Fund, Spartan International Index Fund, Spartan Total Market Fund and Spartan U.S. Equity Index Fund (the funds) and for all funds in the Fidelity Group of Funds are shown in the table below.

Fund	2008A	2007A
Spartan Extended Market Index Fund	$77,000	$69,000
Spartan International Index Fund	$78,000	$67,000
Spartan Total Market Index Fund	$86,000	$75,000
Spartan U.S. Equity Index Fund	$134,000	$144,000
All funds in the Fidelity Group of Funds audited by PwC	$14,100,000	$14,100,000

^A Aggregate amounts may reflect rounding.

(b) Audit-Related Fees.

In each of the fiscal years ended February 29, 2008 and February 28, 2007, the aggregate Audit-Related Fees billed by PwC for services rendered for assurance and related services to each fund that are reasonably related to the performance of the audit or review of the fund's financial statements, but not reported as Audit Fees, are shown in the table below.

Fund	2008A	2007A
Spartan Extended Market Index Fund	$0	$0
Spartan International Index Fund	$0	$0
Spartan Total Market Index Fund	$0	$0
Spartan U.S. Equity Index Fund	$0	$0

^A Aggregate amounts may reflect rounding.

In each of the fiscal years ended February 29, 2008 and February 28, 2007, the aggregate Audit-Related Fees that were billed by PwC that were required to be approved by the Audit Committee for services rendered on behalf of Fidelity Management & Research Company (FMR) and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the funds ("Fund Service Providers") for assurance and related services that relate directly to the operations and financial reporting of each fund that are reasonably related to the performance of the audit or review of the fund's financial statements, but not reported as Audit Fees, are shown in the table below.

Billed By	2008A	2007A
PwC	$0	$0

^A Aggregate amounts may reflect rounding.

Fees included in the audit-related category comprise assurance and related services (e.g., due diligence services) that are traditionally performed by the independent registered public accounting firm. These audit-related services include due diligence related to mergers and acquisitions, accounting consultations and audits in connection with acquisitions, internal control reviews, attest services that are not required by statute or regulation and consultation concerning financial accounting and reporting standards.

(c) Tax Fees.

In each of the fiscal years ended February 29, 2008 and February 28, 2007, the aggregate Tax Fees billed by PwC for professional services rendered for tax compliance, tax advice, and tax planning for each fund is shown in the table below.

Fund	2008A	2007A
Spartan Extended Market Index Fund	$3,900	$2,900
Spartan International Index Fund	$4,900	$2,900
Spartan Total Market Index Fund	$3,900	$2,900
Spartan U.S. Equity Index Fund	$3,900	$3,800

^A Aggregate amounts may reflect rounding.

In each of the fiscal years ended February 29, 2008 and February 28, 2007, the aggregate Tax Fees billed by PwC that were required to be approved by the Audit Committee for professional services rendered on behalf of the Fund Service Providers for tax compliance, tax advice, and tax planning that relate directly to the operations and financial reporting of each fund is shown in the table below.

Billed By	2008A	2007A
PwC	$0	$0

^A Aggregate amounts may reflect rounding.

Fees included in the Tax Fees category comprise all services performed by professional staff in the independent registered public accounting firm's tax division except those services related to the audit. Typically, this category would include fees for tax compliance, tax planning, and tax advice. Tax compliance, tax advice, and tax planning services include preparation of original and amended tax returns, claims for refund and tax payment-planning services, assistance with tax audits and appeals, tax advice related to mergers and acquisitions and requests for rulings or technical advice from taxing authorities.

(d) All Other Fees.

In each of the fiscal years ended February 29, 2008 and February 28, 2007, the aggregate Other Fees billed by PwC for all other non-audit services rendered to the funds is shown in the table below.

Fund	2008A	2007A
Spartan Extended Market Index Fund	$1,800	$1,900
Spartan International Index Fund	$2,700	$2,100
Spartan Total Market Index Fund	$3,300	$2,900
Spartan U.S. Equity Index Fund	$10,800	$12,100

^A Aggregate amounts may reflect rounding.

In each of the fiscal years ended February 29, 2008 and February 28, 2007, the aggregate Other Fees billed by PwC that were required to be approved by the Audit Committee for all other non-audit services rendered on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of each fund is shown in the table below.

Billed By	2008A	2007A
PwC	$220,000	$125,000

^A Aggregate amounts may reflect rounding.

Fees included in the All Other Fees category include services related to internal control reviews, strategy and other consulting, financial information systems design and implementation, consulting on other information systems, and other tax services unrelated to the fund.

(e) (1) Audit Committee Pre-Approval Policies and Procedures:

The trust's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The trust's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity Fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (Covered Service) are subject to approval by the Audit Committee before such service is provided. Non-audit services provided by a fund audit firm for a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund (Non-Covered Service) but that are expected to exceed $50,000 are also subject to pre-approval by the Audit Committee.

All Covered Services, as well as Non-Covered Services that are expected to exceed $50,000, must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair's absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee. Neither pre-approval nor advance notice of Non-Covered Service engagements for which fees are not expected to exceed $50,000 is required; such engagements are to be reported to the Audit Committee monthly.

(e) (2) Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X:

Audit-Related Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2008 and February 28, 2007 on behalf of each fund.

There were no amounts that were required to be approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2008 and February 28, 2007 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of each fund.

Tax Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2008 and February 28, 2007 on behalf of each fund.

There were no amounts that were required to be approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2008 and February 28, 2007 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of each fund.

All Other Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2008 and February 28, 2007 on behalf of each fund.

There were no amounts that were required to be approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2008 and February 28, 2007 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of each fund.

(f) Not applicable.

(g) For the fiscal years ended February 29, 2008 and February 28, 2007, the aggregate fees billed by PwC of $1,550,000^A and $1,285,000^A for non-audit services rendered on behalf of the funds, FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and Fund Service Providers relating to Covered Services and Non-Covered Services are shown in the table below.

	2008A	2007A
Covered Services	$255,000	$155,000
Non-Covered Services	$1,295,000	$1,130,000

^A Aggregate amounts may reflect rounding.

(h) The trust's Audit Committee has considered Non-Covered Services that were not pre-approved that were provided by PwC to Fund Service Providers to be compatible with maintaining the independence of PwC in its audit of the funds, taking into account representations from PwC, in accordance with Independence Standards Board Standard No.1, regarding its independence from the funds and their related entities.

Item 5. Audit Committee of Listed Registrants

Not applicable.

Item 6. Schedule of 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

There were no material changes to the procedures by which shareholders may recommend nominees to the trust's Board of Trustees.

Item 11. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust's internal control over financial reporting.

Item 12. Exhibits

(a)	(1)	Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.
(a)	(2)	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
(a)	(3)	Not applicable.
(b)		Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Concord Street Trust

By:	/s/Kimberley Monasterio
	Kimberley Monasterio
	President and Treasurer
Date:	April 29, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/Kimberley Monasterio
	Kimberley Monasterio
	President and Treasurer
Date:	April 29, 2008

By:	/s/Joseph B. Hollis
	Joseph B. Hollis
	Chief Financial Officer
Date:	April 29, 2008