Glenmede Fund NCSR Certified annual shareholder report (management investment company)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number:
811-05577

The Glenmede Fund, Inc.

(Exact Name of Registrant as Specified in Charter)

4 Copley Place, 5^th Floor
CPH-0326
Boston, MA 02116
(Address of Principal Executive Offices)(Zip Code)

Michael P. Malloy, Esq.
Secretary
Drinker Biddle & Reath LLP
One Logan Square
Suite 2000
Philadelphia, PA 19103-6996
(Name and Address of Agent for Service)

Registrant’s Telephone Number, including Area Code:
1-800-442-8299

Date of Fiscal Year End: October 31, 2012

Date of Reporting Period: October 31, 2012

Item 1. Reports to Stockholders.

Glenmede

The Glenmede Fund, Inc.

The Glenmede Portfolios

Annual Report

October 31, 2012

The performance for the portfolios shown on pages 2, 3 and 6 to 24 represents past performance and is not a guarantee of future results. A portfolio’s share price and investment return will vary with market conditions, and the principal value of shares, when redeemed, may be more or less than their original cost.

An investment in a portfolio is neither insured nor guaranteed by the U.S. Government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other governmental agency or bank. The yield of money market portfolios will fluctuate as market conditions change. Although the money market portfolios seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in these portfolios.

Unlike actual fund performance, performance of an index does not reflect any expenses or transaction costs. A direct investment in an unmanaged index is not possible.

The reports concerning the portfolios included in this shareholder report may contain certain forward-looking statements about the factors that may affect the performance of the portfolios in the future. These statements are based on the adviser’s or sub-adviser’s predictions and expectations concerning certain future events and their expected impact on the portfolios, such as performance of the economy as a whole and of specific industry sectors, changes in the levels of interest rates, the impact of developing world events and other factors that may influence the future performance of the portfolios. The adviser or sub-adviser, as applicable, believes these forward-looking statements to be reasonable, although they are inherently uncertain and difficult to predict. Actual events may cause adjustments in portfolio management strategies from those currently expected to be employed.

THE GLENMEDE FUND, INC.

THE GLENMEDE PORTFOLIOS

TABLE OF CONTENTS


President’s Letter (Unaudited)			2
Management Discussion and Analysis (Unaudited)			5
Glossary of Indices & Terms (Unaudited)			25
Shareholder Expenses			28
Glenmede Fund, Inc.			33
Statements of Assets and Liabilities			33
Statements of Operations			39
Statements of Changes in Net Assets			45
Statement of Cash Flows			51
Financial Highlights			53
Schedules of Portfolio Investments			71
Notes to Financial Statements			204
Report of Independent Registered Public Accounting Firm			234
Glenmede Portfolios			235
Statements of Assets and Liabilities			235
Statements of Operations			236
Statements of Changes in Net Assets			237
Financial Highlights			238
Schedules of Portfolio Investments			240
Notes to Financial Statements			259
Report of Independent Registered Public Accounting Firm			266
Tax Information (Unaudited)			267
Board Members And Officers Table (Unaudited)			270
Additional Information (Unaudited)			275

THE GLENMEDE FUND, INC. AND THE GLENMEDE PORTFOLIOS

PRESIDENT’S LETTER

Dear Shareholder:

We are pleased to present the annual report of the Glenmede family of funds for the fiscal year ended October 31, 2012. The volatility in the markets that has marked the last few years continued through this fiscal year. The sovereign debt crisis in Europe, the anticipated fiscal cliff, the U.S. Election and worry about employment and the housing market’s effects on the economy all contributed to the volatility. Despite this, equity and fixed income markets had positive returns for the fiscal year ended October 31, 2012. International equities, due to the more serious problems in Europe, had lower but positive returns for the period. Money market funds suffered very low yields as the Federal Reserve maintained short term rates at near zero.

At the fiscal year end on October 31, 2012, The Glenmede Fund, Inc. and The Glenmede Portfolios (collectively the “Glenmede Funds”) consisted of nineteen portfolios with total assets of $3.7 billion. The fund family includes five International Portfolios; International is sub-advised by Philadelphia International Advisors (“PIA”). Philadelphia International, Philadelphia International Small Cap, and Philadelphia International Emerging Markets are advised by PIA. These four portfolios account for 7% of the fund family’s assets as of October 31, 2012. The International Secured Options Portfolio was launched on September 28, 2012 to provide an International product similar to the domestic Secured Options Portfolio. This Portfolio is advised by Glenmede Investment Management LP.

All of the Glenmede Funds, other than the money market funds, are managed to seek long-term total returns consistent with reasonable risk to principal for their asset category. Efforts are made to keep expenses at competitive levels. All of the portfolios managed by Glenmede Investment Management LP use a quantitative style of investing.

This fiscal year ended October 31, 2012 showed positive returns across all domestic asset classes in anticipation of slow, but positive growth in the U.S. economy. The S&P 500 Index¹ gained 15.2% and the Barclays Capital U.S. Aggregate Bond Index¹ gained 5.25% for the fiscal year ended October 31, 2012. The MSCI EAFE Index¹ performed worse than domestic stocks for the fiscal year gaining 4.61%, hurt by the debt problems in Europe. Small Cap stocks did not do as well as Large Cap stocks with the Russell 2000 Index¹ returning 12.08% versus a return of 14.97% on the Russell 1000 Index¹ for the fiscal year ended October 31, 2012. The Glenmede Large Cap Value Portfolio achieved a four star (****) Morningstar Overall Rating^tm2 among 1044 Large Value Equity Funds for the period ended October 31, 2012 (based on risk adjusted returns). The Glenmede Large Cap 100 Portfolio achieved a four star (****) Morningstar Overall Rating^tm2 among 1516 Large Blend Equity Funds for the period ended October 31, 2012 (based on risk adjusted returns). The Glenmede Large Cap Growth Portfolio achieved a four star (****) Morningstar Overall Rating^tm2 among 1492 Large Growth Equity Funds for the period ended October 31, 2012 (based on risk adjusted returns).

In response to the continuing slow economy, the Federal Reserve has maintained short term rates at 0.0%-0.25% since December 16, 2008. The yield curve flattened during the current fiscal year as one year maturity treasuries rose 6 basis points³ in yield and the 30 year treasury dropped 27 basis points. Money Market fund yields remain at all time lows.

Returns in the fixed income markets were good across all sectors, but especially in long corporate bonds which returned 14.58% as investors sought current yield. The Glenmede bond portfolios all have a high quality bias. The Muni Intermediate Portfolio achieved a four star (****) Morningstar Overall Rating^tm2 among 135 Muni National Short Funds for the period ended October 31, 2012 (based on risk-adjusted returns). The Morningstar Overall Rating^tm for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metric.

We have featured the Strategic Equity Portfolio and included Portfolio Highlights for each individual fund in this report. We welcome any questions about the Glenmede Funds and thank our clients for their continued support.

Sincerely,

Mary Ann B. Wirts

President

December 17, 2012


		Past performance is no guarantee of future results.
		Mutual fund investing involves risks. Principal loss is possible. The Portfolios may invest in foreign securities which, especially in emerging markets, will involve greater volatility and political, economic and currency risks and differences in accounting methods. The Small Cap Equity Portfolio, U.S. Emerging Growth Portfolio, Philadelphia International Small Cap Fund and Philadelphia International Emerging Markets Fund invest in smaller companies, which will involve additional risks such as limited liquidity and greater volatility than larger companies. Short sales by the Long/Short Portfolio and Total Market Portfolio involve leverage risk, credit exposure to brokers that execute the short sales and have potentially unlimited losses. Use of derivatives by the Secured Options Portfolio and the International Secured Options Portfolio may involve greater liquidity, counterparty, credit and pricing risks. The Muni Intermediate Portfolio and the New Jersey Muni Portfolio invest in debt instruments of municipal issuers whose ability to meet their obligations may be affected by political and economic factors in the Issuer’s region. The New Jersey Muni Portfolio is more susceptible to factors adversely affecting New Jersey issuers than is a municipal bond fund that is not concentrated in these issuers to the same extent. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer- term debt securities. Income from tax-exempt funds may be subject to state and local taxes and a portion of income may be subject to the federal alternative minimum tax for certain investors. Federal income tax rules will apply to any capital gains distributions. Investments in asset backed and mortgage backed securities include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Diversification does not assure a profit or protect against a loss in a declining market. The Secured Options Portfolio and the International Secured Options Portfolio invest in options which have risks of unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of the securities prices, interest rates and currency exchange rates. This investment may not be suitable for all investors.


		An investment in a Portfolio is neither insured nor guaranteed by the Federal Deposit Insurance Corporation, any other government agency or bank. Although the money market Portfolios seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in these Portfolios.
¹		The indices are defined on pages 25 to 27.
²		^©2012 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
		For each fund with at least a three-year history, Morningstar calculates a Overall Morningstar Rating^tm, (based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance, (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Large Cap Value Portfolio was rated against the following numbers of U.S.-domiciled Large Value Equity funds over the following time periods: 1,044 funds overall, 1,044 funds in the last three years, 926 funds in the last five years, and 585 funds in the last ten years. With respect to these Large Value Equity funds, the Large Cap Value Portfolio received an Overall Morningstar Rating^tmof ** stars and a Morningstar Rating^tmof * stars, ** and * stars for the three-, five-, and ten-year periods, respectively. The Large Cap 100 Portfolio was rated against the following numbers of U.S.-domiciled Large Blend Equity funds over the following time periods: 1,516 funds overall, 1,516 funds in the last three years, and 1,324 funds in the last five years. With respect to these Large Blend Equity funds, the Large Cap 100 Portfolio received an Overall Morningstar Rating^tmof ** stars and a Morningstar Rating^tmof * stars and stars for the three- and five-year periods, respectively. The Large Cap Growth Portfolio was rated against the following numbers of U.S.-domiciled Large Growth Equity funds over the following time periods: 1,492 funds overall, 1,492 funds in the last three years and 1,295 funds in the last five years. With respect to these Large Growth Equity funds, the Large Cap Growth Portfolio received an Overall Morningstar Rating^tmof stars and a Morningstar Rating ^tmof stars and stars for the three and five year periods, respectively. The Muni Intermediate Portfolio was rated against the following numbers of U.S.-domiciled Muni National Short funds over the following time periods: 135 funds overall, 135 funds in the last three years, 110 funds in the last five years, and 82 funds in the last ten years. With respect to these Muni Short funds, the Muni Intermediate Portfolio received an Overall Morningstar Rating^tmof stars and a Morningstar Rating^tmof * stars, stars and * stars for the three-, five- and ten-year periods, respectively. Past performance is no guarantee of future results.
³		A basis point equals .01%.

		This material must be preceded or accompanied by a current prospectus.
		The Glenmede Fund, Inc. and the Glenmede Portfolios are distributed by Quasar Distributors, LLC. 12/12.

THE GLENMEDE FUND, INC.

Inside the
STRATEGIC EQUITY PORTFOLIO

The Glenmede Strategic Equity Portfolio seeks to invest in common stocks of, what in our opinion are, highly profitable, well managed companies that possess durable business models. Peter J. Zuleba, III, CFA, serves as lead portfolio manager for the Glenmede Strategic Equity Portfolio, where he combines a quantitative discipline with fundamental research insights. Mr. Zuleba joined the parent company, The Glenmede Trust Company, N.A. in 2004 and has managed the product since his arrival. Peter is supported in the portfolio management process by Adam Douberly. Additionally, Brad Hoopman, John Kichula, CFA, Mark Livingston, CFA and Keith Peter, CFA comprise the fundamental research team supporting the portfolio.

Our fundamental belief is that all companies are not created equal and only a small subset of most indices possesses qualities that you want to “own”. With this as our basis, a universe of companies is reviewed and only those that consistently exceed median industry level profitability metrics are then subject to rigorous fundamental analysis. When evaluating companies, our industry analysts will look for the following characteristics:

Management

Arrow Pointing Right Strong operators

Arrow Pointing Right Intelligent allocation of capital

Financial Condition & Profitability

Arrow Pointing Right Strong balance sheet and free cash flow

Arrow Pointing Right High returns on capital

Arrow Pointing Right High quality of earnings

Competitive Position

Arrow Pointing Right Non-obsolescent products/services

Arrow Pointing Right Dominant or growing market share

Arrow Pointing Right Participation in a growing market

Arrow Pointing Right Global presence and brand names

The portfolio management and fundamental analysis research team collaborates on a daily basis to determine sector allocation, stock selection and absolute/relative position size. The goal of this interaction meeting is to create a well diversified, risk controlled portfolio that incorporates varied opinions and over seventy five years of cumulative investment experience.

Glenmede believes that an actively managed, diversified portfolio of attractively valued companies which consistently generate high returns on capital, has the potential to achieve superior long-term performance.

¹ Please refer to Portfolio Highlights on page 9 for detailed performance figures for the Strategic Equity Portfolio.

THE GLENMEDE FUND, INC.

Government Cash Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
			iMoneyNet’s
			Government
Government Cash Portfolio			All Average^tm
Year ended 10/31/12	0.00	%		0.01	%
Five Years ended 10/31/12	0.75	%		0.48	%
Ten Years ended 10/31/12	1.84	%		1.49	%
Inception (11/7/88) through 10/31/12¹	3.91	%		3.45	%


	7-Day			7-Day
Government Cash Portfolio	Current Yield			Effective Yield
As of 10/31/12		0.00	%		0.00	%

The Government Cash Portfolio returned 0.00% for the fiscal year ended October 31, 2012. The benchmark, the iMoneynet Government All Average, returned 0.01% for the year. The performance was in line with its benchmark as shorter dated securities hovered near zero. The Portfolio seeks to capture yield through purchases of U.S. Government agency coupon and discount notes in conjunction with U.S. treasury — collateralized repurchase agreements. The Portfolio seeks to enhance the yield while holding high quality securities and maintaining diversification.

Hypothetical Illustration of $10,000 Invested in
Government Cash Portfolio vs.
iMoneyNet’s Government All Average^tm10/31/02 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.

Performance data quoted represents past performance; past performance does not guarantee future results. The performance quoted reflects fee waivers in effect and would have been lower in their absence. Current performance may be higher or lower than the total return shown. Please call the Fund at 1-800-442-8299 to obtain the most recent month-end returns. Although the Portfolio seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Portfolio. Returns do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares.


¹		Benchmark return is for the period beginning November 30, 1988.

		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
			iMoneyNet’s
			National Retail
Tax-Exempt Cash Portfolio			Tax-Free Average^tm
Year ended 10/31/12	0.00	%		0.01	%
Five Years ended 10/31/12	0.45	%		0.46	%
Ten Years ended 10/31/12	1.25	%		1.05	%
Inception (11/10/88) through 10/31/12¹	2.60	%		2.27	%


	7-Day			7-Day
Tax-Exempt Cash Portfolio	Current Yield			Effective Yield
As of 10/31/12		0.00	%		0.00	%

The Tax Exempt Cash Portfolio has slightly underperformed iMoneyNet’s National Retail Tax-Free Average over the past 5 years because of its defensive position which included a short average maturity. During longer periods, the Portfolio has consistently outperformed the index. Money Market instruments have experienced record low yields during the past three fiscal years resulting in Portfolio yields as low as 0%.

Hypothetical Illustration of $10,000 Invested in
Tax-Exempt Cash Portfolio vs.
iMoneyNet’s National Retail Tax-Free Average^tm10/31/02 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.

Performance data quoted represents past performance; past performance does not guarantee future results. The performance quoted reflects fee waivers and/or expense reimbursements in effect and would have been lower in their absence. Current performance may be higher or lower than the total return shown. Please call the Fund at 1-800-442-8299 to obtain the most recent month-end returns. Returns shown do not reflect taxes that a shareholder may pay on fund distributions or redemption of fund shares. Although the Portfolio seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Portfolio.


¹		Benchmark return is for the period beginning November 30, 1988.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Core Fixed Income Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
			Barclays Capital			Morningstar
			U.S. Aggregate			Intermediate-Term
Core Fixed Income Portfolio			Bond Index			Bond Average
Year ended 10/31/12	5.51	%		5.25	%		7.13	%
Five Years ended 10/31/12	6.30	%		6.38	%		5.74	%
Ten Years ended 10/31/12	5.03	%		5.39	%		4.95	%
Inception (11/17/88) through 10/31/12¹	6.84	%		7.18	%		6.47	%

The Core Fixed Income Portfolio returned 5.51% for the fiscal year ended October 31, 2012. The benchmark, the Barclays Capital U. S. Aggregate Bond Index, returned 5.25% for the year and the Portfolio’s peer group, the Morningstar Intermediate — Term Bond, returned 7.13% for the year. The Portfolio’s outperformance versus the Barclays Capital U.S. Aggregate Bond Index can be credited to the portfolio overweighting and underweighting within the primary bond sectors, specifically overweighting the corporate and mortgage sectors. The Portfolio’s underperformance versus its peer group can be attributed to the Portfolio’s high credit quality bias and low risk themes. The lower tier BBB investment grade securities outperformed the higher AA quality securities, by over 5.5%. The Portfolio seeks to add value by monitoring yield curve exposure while utilizing sector and security selection. The Portfolio seeks to maintain a duration target which is similar to its benchmark. Diversification, liquidity, and low risk themes dominate the Portfolio’s investment discipline. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus is 0.57%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $10,000 Invested in
Core Fixed Income Portfolio vs.
Barclays Capital U.S. Aggregate Bond Index and
Morningstar Intermediate-Term Bond Average
10/31/02 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.


¹		Benchmark returns are for the periods beginning November 30, 1988 for Barclays Capital U.S. Aggregate Bond Index and December 1, 1988 for Morningstar Intermediate-Term Bond Average.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Strategic Equity Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
				Return After Taxes on									Morningstar
	Return						Distributions and						Large
	Before						Sales			S&P 500			Growth
Strategic Equity Portfolio	Taxes			Distributions			of Fund Shares			Index			Average
Year ended 10/31/12		12.68	%		12.53	%		8.43	%		15.20	%		9.99	%
Five Years ended 10/31/12		0.02	%		−0.11	%		0.00	%		0.36	%		−0.69	%
Ten Years ended 10/31/12		5.89	%		5.53	%		5.10	%		6.90	%		5.83	%
Inception (07/20/89) through 10/31/12¹		7.68	%		6.46	%		6.29	%		8.65	%		7.20	%

For the fiscal year ended October 31, 2012, the Strategic Equity Portfolio returned 12.68%. The S&P500 Index returned 15.20% for the same period. While sector allocation did not impact returns, the Portfolio was negatively impacted by stock selection. The adverse performance impact during the fiscal year resulted from the Portfolio’s commitment to stocks with high returns persistency. To that end, stocks with the lowest returns on invested capital over the fiscal year ended October 31, 2012 outpaced higher returns companies by several percentage points. The Portfolio remains committed to purchasing, what the portfolio manager believes are, high return companies at attractive valuations and the belief that those stocks should be rewarded with outperformance over time. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus, is 0.88%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $10,000 Invested in
Strategic Equity Portfolio vs. S&P 500 Index
and Morningstar Large Growth Average
10/31/02 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the total return shown. Please call the Fund at 1-800-442-8299 to obtain the most recent month-end returns. Returns, other than after-tax returns, do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, do not reflect the impact of state and local taxes and are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or IRAs. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown.


¹		Benchmark returns are for the period beginning July 31, 1989.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Small Cap Equity Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
									Morningstar
Small Cap Equity Portfolio -			Russell 2000			S&P 500			Small
Advisor Class			Index			Index			Blend Average
Year ended 10/31/12	10.16	%		12.08	%		15.20	%		10.69	%
Five Years ended 10/31/12	1.85	%		1.19	%		0.36	%		0.52	%
Ten Years ended 10/31/12	9.79	%		9.58	%		6.90	%		8.91	%
Inception (03/01/91) through 10/31/12¹	10.01	%		9.29	%		8.55	%		9.88	%
Small Cap Equity Portfolio -
Institutional Class
Year ended 10/31/12	10.38	%		12.08	%		15.20	%		10.69	%
Five Years ended 10/31/12	2.06	%		1.19	%		0.36	%		0.52	%
Ten Years ended 10/31/12	10.06	%		9.58	%		6.90	%		8.91	%
Inception (01/02/98) through 10/31/12²	10.19	%		9.29	%		8.55	%		9.88	%

For the fiscal year ended October 31, 2012, the Small Cap Equity Portfolio Advisor Class returned 10.16% and the Small Cap Equity Portfolio Institutional Class returned 10.38%, compared to the Russell 2000 Index return of 12.08% and the Morningstar Small Blend Average return of 10.69%. Despite the Portfolio outperforming in six out of eight sectors, the deficits accumulated in the health care and technology sectors were too much to overcome. Stock selection was the biggest culprit. The energy, basic industry and the consumer sectors were the best performing relative sectors. The Portfolio’s gross annual operating expense ratios, as stated in the February 28, 2012 prospectus are 0.94% and 0.74% for the Adviser and Institutional shares, respectively. These ratios can fluctuate and may differ from the expense ratios disclosed in the Financial Highlights in this report.

Hypothetical Illustration of $10,000 Invested in
Small Cap Equity Portfolio Advisor Class vs. Russell 2000 Index,
S&P 500 Index and Morningstar Small Blend Average*
10/31/02 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.


¹		Benchmark returns are for the Advisor Class inception period beginning February 28, 1991 for the Russell 2000 Index and the S&P 500 Index and April 1, 1991 for the Morningstar Small Blend Average.
²		Average annual total return for the Institutional Class includes the period from 03/01/91 through 10/31/12. Prior to the inception of the Institutional Class on 01/02/98, performance for the Institutional Class is based on the average annual total return of the Advisor Class.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Large Cap Value Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
									Morningstar
			Russell 1000			S&P 500			Large Value
Large Cap Value Portfolio			Value Index			Index			Average
Year ended 10/31/12	12.86	%		16.89	%		15.20	%		13.55	%
Five Years ended 10/31/12	0.58	%		–1.00	%		0.36	%		–1.41	%
Ten Years ended 10/31/12	7.63	%		7.34	%		6.90	%		6.29	%
Inception (01/04/93) through 10/31/12¹	8.24	%		9.05	%		8.20	%		7.33	%

For the fiscal year ended October 31, 2012, the Glenmede Large Cap Value Portfolio returned 12.86%, while its benchmark, the Russell 1000 Value Index returned 16.89%. Telecommunications stocks were the leading group during this period and the Portfolio had no exposure to this group. This was the biggest detractor from performance during the period. In addition, weak stock selection in Industrials and Energy sectors was offset by stronger stock selection in Technology and Financials. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus is 0.92%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $10,000 Invested in
Large Cap Value Portfolio vs.
Russell 1000 Value Index, S&P 500 Index and
Morningstar Large Value Average
10/31/02 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.


¹		Benchmark returns are for the period beginning December 31, 1992.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

U.S. Emerging Growth Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
				Return After Taxes on												Morningstar
	Return						Distributions			S&P Small Cap						Small
	Before						and Sale of			600 Growth			Russell 2000			Growth
U.S. Emerging Growth Portfolio	Taxes			Distributions			Fund Shares			Index			Growth Index			Average
Year ended 10/31/12		8.77	%		8.74	%		5.74	%		11.87	%		9.70	%		9.04	%
Five Years ended 10/31/12		0.18	%		0.17	%		0.15	%		2.98	%		1.41	%		–0.32	%
Ten Years ended 10/31/12		7.25	%		7.14	%		6.41	%		10.67	%		9.66	%		8.19	%
Inception (12/29/99) through 10/31/12¹		–1.81	%		–1.88	%		–1.51	%		7.53	%		1.61	%		2.48	%

Since its inception on December 29, 1999, the Portfolio has underperformed the S&P Small Cap 600 Growth Index, Russell 2000 Growth Index and the Morningstar Small Cap Growth Average by 9.34%, 3.42% and 4.29%, respectively, on an annualized basis. Beginning in December 2009, the Portfolio has been benchmarked to the sector weightings of the S&P Small Cap 600 Growth Index. The benchmark was changed to be more consistent with Portfolio’s investment style versus the Russell 2000 Growth Index. Currently, the Portfolio owns stocks of the Russell 2000 Growth and S&P Small Cap 600 Growth Indexes. For the fiscal year ended October 31, 2012, the Portfolio underperformed the S&P Small Cap 600 Growth Index by 3.10%, the Russell 2000 Growth Index by .93%, and the Morningstar Small Growth Average by .27%. Most of the relative underperformance occurred in the technology sector in which the Portfolio did not own some of the best performing stocks in the benchmark indexes, including Cirrus Logic Inc.(CRUS +145%) and Cymer Inc. (CYMI +83%)². In most sectors, the performance benefited from multifactor ranking models and downside risk screens (including sell rankings, earnings surprise indicators, liquidity and earnings quality measures) which biased the Portfolio toward stocks with lower valuations and more positive earnings/revenue trends relative to the S&P SmallCap 600 Growth Index. The Portfolio had positive relative stock performance in eight of ten sectors. The most favorable contributions from stock selection came in the consumer staples, energy and materials sectors. The Portfolio had negative relative performance from stock selection in the technology and financial sectors. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus, is 0.98%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $10,000
Invested in U.S. Emerging Growth Portfolio vs.
S&P SmallCap 600 Growth Index, Russell 2000 Growth Index and Morningstar Small
Growth Average 10/31/02 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.


¹		Benchmark returns are for the period beginning December 31, 1999. The indices and certain terms are defined on pages 25 to 27.
²		Fund holdings are subject to change and are not recommendations to buy or sell any security. Please see the Schedule of Investments for a complete list of fund holdings.

THE GLENMEDE FUND, INC.

Large Cap 100 Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
				Return After Taxes on
	Return						Distributions						Morningstar
	Before						and Sale of			Russell 1000			Large Blend
Large Cap 100 Portfolio	Taxes			Distributions			Fund Shares			Index			Average
Year ended 10/31/12		13.14	%		12.93	%		8.81	%		14.97	%		12.53	%
Five Years ended 10/31/12		1.19	%		1.04	%		0.99	%		0.53	%		–0.79	%
Inception (2/27/04) through 10/31/12¹		5.60	%		5.36	%		4.86	%		4.87	%		3.78	%

Since its inception on February 27, 2004, the Portfolio has outperformed the Russell 1000 Index and Morningstar Large Blend Average by .73% and 1.82%, respectively, on an annualized basis. For the fiscal year ended October 31, 2012, the Portfolio underperformed the Russell 1000 Index by 1.83% and outperformed the Morningstar Large Cap Blend Average by .61%. In the past year, the Portfolio which targets stocks on an equal-weighted basis within sectors was negatively impacted from the lower market capitalizations of holdings relative to the Russell 1000 Index. The average stock in the Russell 1000 Index underperformed the cap-weighted index by 2.6% for the 12 months ending October 31, 2012. The Portfolio’s performance benefited from multifactor ranking models and downside risk screens (including sell rankings, earnings surprise indicators, liquidity and earnings quality measures) which biased the Portfolio toward stocks with lower valuations relative to the Russell 1000 Index. The Portfolio had positive relative stock performance in five of ten sectors. The most favorable contributions from stock selection came in the consumer discretionary, energy and materials sectors. The Portfolio had negative relative performance from stock selection in the technology, industrials and consumer staples sectors. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus, is 0.88%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $10,000 Invested in
Large Cap 100 Portfolio vs. Russell 1000 Index¹ and
Morningstar Large Blend Average¹2/27/04 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.


¹		Benchmark returns are for the period beginning February 28, 2004. The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Large Cap Growth Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
				Return After Taxes on						Russell
	Return						Distributions			1000			Morningstar
	Before						and Sale of			Growth			Large
Large Cap Growth Portfolio	Taxes			Distributions			Fund Shares			Index			Growth Average
Year ended 10/31/12		8.44	%		8.36	%		5.59	%		13.02	%		9.99	%
Five Years ended 10/31/12		1.35	%		1.28	%		1.14	%		1.95	%		–0.69	%
Inception (2/27/04) through 10/31/12¹		5.56	%		5.42	%		4.84	%		4.98	%		3.71	%

Since its inception on February 27, 2004, the Portfolio has outperformed the Russell 1000 Growth Index and the Morningstar Large Growth Average by .58% and 1.85%, respectively, on an annualized basis. For the fiscal year ended October 31, 2012, the Portfolio underperformed the Russell 1000 Growth benchmark index by 4.58% and underperformed the Morningstar Large Cap Growth average by 1.55%. In the past year, the Portfolio, which targets stocks on an equal-weighted basis within sectors, was negatively impacted from the lower market capitalizations of holdings relative to the Russell 1000 Growth Index. The average stock in the Russell 1000 Growth Index underperformed the cap-weighted index by 3.5% for the 12 months ending October 31, 2012. The Portfolio’s performance benefited from multifactor ranking models and downside risk screens (including sell rankings, earnings surprise indicators, liquidity and earnings quality measures) which biased the Portfolio toward stocks with lower valuations relative to the Russell 1000 Growth Index. The Portfolio had positive relative stock performance in three of nine sectors. Positive contributions from stock selection came in the materials, consumer discretionary and consumer staples sectors. The Portfolio had negative relative performance from stock selection in the energy, technology and industrials sectors. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus, is 0.88%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $10,000 Invested in
Large Cap Growth Portfolio vs. Russell 1000 Growth Index¹and Morningstar Large Growth Average¹2/27/04 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.


¹		Benchmark returns are for the period beginning February 28, 2004.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Long/Short Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
			Barclays Capital
			3-Month
			U.S. Treasury						Morningstar
			Bellwether			Russell 3000			Long/Short
Long/Short Portfolio			Index			Index			Average
Year ended 10/31/12	4.38	%		0.09	%		14.75	%		1.94	%
Five Years ended 10/31/12	–0.22	%		0.70	%		0.59	%		–1.48	%
Inception (09/29/06) through 10/31/12¹	–0.50	%		1.56	%		3.34	%		0.00	%

Since its inception on September 29, 2006, the Long/Short Portfolio has underperformed the Barclays Capital 3-Month U.S. Treasury Bellwether Index and Morningstar Long/Short Index by 2.06% and .50%, respectively. For the fiscal year ended October 31, 2012, the Portfolio outperformed the Barclays Capital 3-Month U.S. Treasury Bellwether Index by 4.29% and outperformed the Morningstar Long/Short Index by 2.44%. In the past year, the Portfolio’s performance benefited from the multifactor ranking models and downside risk screens (including sell rankings, earnings surprise indicators, liquidity and earnings quality measures) which biased the Portfolio towards companies with lower valuations and more positive earnings/revenue trends. The Portfolio’s long positions (+11.8%) outperformed the short positions (+7.0%). Overall, the Portfolio had positive relative stock performance in five of ten sectors. The most favorable contributions from stock selection came in the materials, consumer discretionary and telecommunications sectors. The Portfolio had negative relative performance from stock selection in the consumer staples, technology and industrials sectors. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus, is 2.81%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $10,000 Invested in
Long/Short Portfolio vs. Barclays Capital
3-Month U.S. Treasury Bellwether Index, Russell 3000 Index¹ and
Morningstar Long/Short Average¹9/29/06 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The performance quoted reflects fee waivers and/or expense reimbursements in effect and would have been lower in their absence. Current performance may be higher or lower than the total return shown. Please call the Fund at 1-800-442-8299 to obtain the most recent month-end returns. Returns do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares.


¹		Benchmark returns are for the periods beginning September 30, 2006 for the Russell 3000 Index and October 1, 2006 for Morningstar Long/Short Average.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Total Market Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
						Morningstar
			Russell 3000			Large
Total Market Portfolio			Index			Blend Average
Year ended 10/31/12	7.93	%		14.75	%		12.53	%
Five Years ended 10/31/12	–1.14	%		0.59	%		–0.79	%
Inception (12/21/06) through 10/31/12¹	–0.25	%		2.29	%		1.17	%

Since its inception on December 21, 2006, the Total Market Portfolio has underperformed the Russell 3000 Index by 2.54% and underperformed the Morningstar Large Blend Average by 1.42%, respectively, on an annualized basis. For the fiscal year ended October 31, 2012, the Portfolio underperformed the Russell 3000 Index by 6.82% and underperformed the Morningstar Large Blend Average by 4.60%. In the past year, the Portfolio, which targets stocks on an equal-weighted basis within sectors, was negatively impacted from the lower market capitalizations of holdings relative to the Russell 3000 Index. The average stock in the Russell 3000 Index underperformed the cap-weighted index by 2.7% for the 12 months ending October 31, 2012. In the past year, contribution to performance was mixed from the multifactor ranking models and downside risk screens (including sell rankings, earnings surprise indicators, liquidity and earnings quality measures) which biased the Portfolio towards companies with lower valuations, stronger fundamentals and more positive earnings/revenue trends. The gross return for the long equity positions was 10.5% versus the short positions of 11.0%. Over the past year, the Portfolio reflected positive relative stock performance in four of ten sectors. The most favorable contributions from stock selection came in the materials, consumer discretionary and energy sectors. The Portfolio had negative relative performance from stock selection in the consumer staples, technology and industrial sectors. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus, is 2.19%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $10,000 Invested in
Total Market Portfolio vs. Russell 3000 Index¹ and
Morningstar Large Blend Average¹12/21/06 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The performance quoted reflects fee waivers and/or expense reimbursements in effect and would have been lower in their absence. Current performance may be higher or lower than the total return shown. Please call the Fund at 1-800-442-8299 to obtain the most recent month-end returns. Returns do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares.


¹		Benchmark returns are for the periods beginning December 31, 2006 for the Russell 3000 Index and January 1, 2007 for Morningstar Large Blend Average.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Secured Options Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
						CBOE S&P 500
			S&P 500			Buy-Write
Secured Options Portfolio			Index			Index
Year ended 10/31/12	14.34	%		15.20	%		13.07	%
Inception (6/30/10) through 10/31/12	16.28	%		16.82	%		12.66	%

For the fiscal year ended October 31, 2012, the Secured Options Portfolio wrote put and call options in an effort to reduce share price volatility, obtain option premiums and provide more stable returns. For this period, the Portfolio had a total return of 14.34% while its benchmark, the CBOE S&P 500 Buy-Write Index, returned 13.07% and the S&P 500 Index returned 15.20%. The Portfolio’s outperformance relative to the CBOE S&P 500 Buy-Write Index was caused primarily by the Portfolio’s ability to select options with better risk-adjusted return attributes than the options selected by the Index. For the period, the put options helped to increase the Portfolio’s performance, while the call options generally helped to reduce share price volatility by approximately one-third as compared to the S&P 500 Index. Generally speaking, purchased equities, equity options or cash positions are pledged to secure the written option positions. The Portfolio’s slight underperformance relative to the S&P 500 Index was better than expected given the risk reduction. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 prospectus is 0.90%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $10,000 Invested in
Secured Options Portfolio vs. S&P 500 Index and
CBOE S&P 500 Buy-Write Index
6/30/10 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.


		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

International Secured Options Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
			Morgan Stanley
			EAFE
International Secured Options Portfolio			Index
Since Inception 9/28/12 through 10/31/12	1.50	%		0.83	%

For the period since inception on September 30, 2012 through October 31, 2012, the International Secured Options Portfolio wrote put and call options in an effort to reduce share price volatility, obtain option premiums and provide more stable returns. For this period, the Portfolio had a total return of 1.50% while its benchmark, the MSCI EAFE Index returned 0.83%. The Portfolio’s outperformance relative to the MSCI EAFE Index was caused primarily by gains on the written option positions. For the period, the put options helped to increase the Portfolio’s performance, while the call options generally helped to reduce share price volatility compared to the MSCI EAFE Index. Generally speaking, equities, equity options or cash positions are pledged to secure the written option positions. The Portfolio’s gross annual operating expense ratio, as stated in the Prospectus dated September 28, 2012 is 1.16%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Short-term performance, in particular, is not a good indication of the Portfolio’s future performance, and an investment should not be made based solely on returns.

Hypothetical Illustration of $10,000 Invested in
International Secured Options Portfolio vs. Morgan Stanley EAFE Index
9/28/12 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.


		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

International Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
			Morgan Stanley			Morningstar
			EAFE			Foreign Large
International Portfolio			Index			Value Average
Year ended 10/31/12	1.28	%		4.61	%		4.62	%
Five Years ended 10/31/12	–6.96	%		–5.81	%		–6.35	%
Ten Years ended 10/31/12	6.63	%		7.73	%		7.41	%
Inception (11/17/88) through 10/31/12¹	7.00	%		4.16	%		6.54	%

The International Portfolio underperformed the Morgan Stanley EAFE Index over the past twelve months ended October 31, 2012. Security selection, on both a country and sector basis, was the primary factor attributing to the poor performance. Stock selection was particularly weak in Australia and Japan. On a sector basis, stock picking was weak in Financials, Staples, and Consumer Discretionary. The Portfolio’s Energy and Information Technology stocks performed well and aided net returns but were offset by an underweight to Consumer Staples, which performed well in a volatile, risk-averse market. Underperformance during the credit crisis of 2007/2008 has resulted in five and ten-year comparisons versus the Index to be less favorable. Since the inception of the Portfolio, favorable security selection and portfolio positioning have been the primary drivers for the enhanced comparative results versus the Index. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus, is 1.13%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $10,000 Invested in
International Portfolio vs. Morgan Stanley EAFE Index
and Morningstar Foreign Large Value Average
10/31/02 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions excluding withholding taxes.


¹		Benchmark returns are for the period beginning November 30, 1988.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Philadelphia International Fund
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
			Morgan Stanley			Morningstar
			EAFE			Foreign Large
Philadelphia International Fund			Index			Value Average
Year ended 10/31/12	2.03	%		4.61	%		4.62	%
Five Years ended 10/31/12	–7.44	%		–5.81	%		–6.35	%
Ten Years ended 10/31/12	5.97	%		7.73	%		7.41	%
Inception (08/01/92) through 10/31/12¹	5.83	%		5.72	%		6.27	%

During the past fiscal year ended October 31, 2012, international equity markets rebounded modestly off of the market downturn caused by the European sovereign debt situation. The Philadelphia International Fund was not favorably positioned for the continued risk-averse environment and underperformed the Morgan Stanley EAFE Index. Positive security selection within the Canadian and Spanish markets was not enough to offset the poor relative returns in the Australian and Japanese markets. In addition, stock selection within the Financials, Staples, and Consumer Discretionary sectors was weak for the period. Poor medium-term performance occurring during the credit crisis of 2007/2008 has caused the Portfolio to underperform the Index for the five-year and ten-year periods. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus, is 0.94%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report.

Hypothetical Illustration of $1,000,000 Invested in
Philadelphia International Fund vs. Morgan Stanley EAFE Index and
Morningstar Foreign Large Value Average
10/31/02 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions excluding withholding taxes.


¹		Benchmark returns are for the period beginning July 31, 1992.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
			MSCI EAFE
			Small Cap
Philadelphia International Small Cap Fund Class IV			Index
Year ended 10/31/12	9.41	%		5.90	%
Inception (5/31/11) through 10/31/12	–5.27	%		–6.51	%

The Philadelphia International Small Cap Fund, launched May 31, 2011, outperformed the MSCI EAFE Small Cap Index for the fiscal year ended October 31, 2012. Stock selection was particularly strong in the UK and Japan. On a sector basis, the Portfolio’s outperformance was driven by strong security selection in Industrials, Information Technology, Materials and Financials. These positive results were somewhat offset by returns within the Consumer Discretionary sector. The multifactor stock selection model performed quite well during the period led by the profitability and momentum factors. The Portfolio’s Class IV gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus is 3.82%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report. As of October 31, 2012, Class I shares have not been issued.

Hypothetical Illustration of $10,000,000 Invested in
Philadelphia International Small Cap Fund Class IV vs.
MSCI EAFE Small Cap Index
5/31/11 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The performance shown reflects fee waivers and expense reimbursements in effect and would have been lower in their absence. Current performance may be higher or lower than the total return shown. Please call the Fund at 1-800-442-8299 to obtain the most recent month-end returns. Returns do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares. Returns are adjusted to reflect the .50% purchase premium and .50% redemption fee. These transaction fees are retained by the Fund to cover trading costs. The purchase premium and/or redemption fee may be increased, reduced or waived at any time.


		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
			MSCI
			Emerging Markets
Philadelphia International Emerging Markets Fund Class IV			Index
Year ended 10/31/12	6.66	%		2.63	%
Inception (6/30/11) through 10/31/12	–7.63	%		–7.56	%

The Philadelphia International Emerging Markets Fund, launched June 30, 2011, outperformed the MSCI Emerging Markets Index for the fiscal year ended October 31, 2012. The Portfolio’s positive relative performance can be attributed to stock selection on a country and sector basis. Security selection was particularly strong within the Korean, Russian, and Indian markets. The Portfolio’s overweight to the Turkish market also aided net returns. On a sector basis, positive security selection in Consumer Discretionary, Energy, Financials, and Materials also added to relative returns. While the valuation components of the multifactor stock selection model underperformed, the profitability and momentum factors more than made up for the shortfall. The Portfolio’s Class IV gross annual operating expense ratio, as stated in the February 28, 2012 Prospectus, is 5.52%. This ratio can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights section of this report. As of October 31, 2012, Class I shares have not been issued.

Hypothetical Illustration of $10,000,000 Invested in
Philadelphia International Emerging Markets Fund Class IV vs.
MSCI Emerging Markets Index
6/30/11 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The performance shown reflects fee waivers and expense reimbursements in effect and would have been lower in their absence. Current performance may be higher or lower than the total return shown. Please call the Fund at 1-800-442-8299 to obtain the most recent month-end returns. Returns do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares. Returns are adjusted to reflect the .80% purchase premium and the .80% redemption fee. These transaction fees are retained by the Fund to cover trading costs. The purchase premium and/or redemption fee may be increased, reduced or waived at any time.


		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
			Barclays Capital			Morningstar
			Municipal 1-10			Muni National
Muni Intermediate Portfolio			Year Blend Index			Short Average
Year ended 10/31/12	4.60	%		5.78	%		2.80	%
Five Years ended 10/31/12	4.28	%		5.39	%		2.70	%
Ten Years ended 10/31/12	3.74	%		4.45	%		2.50	%
Inception (06/05/92) through 10/31/12	4.65	%		N/A	*		3.51	%

Muni Intermediate Portfolio underperformed its primary benchmark, the Barclays Capital Municipal 1-10 Year Blend Index. The Portfolio has maintained a defensive position, with a duration near and higher quality than the benchmark and is well-diversified across regions and sectors. The Portfolio also seeks high, current tax-exempt interest income, which has been difficult to obtain in this low interest rate environment. The market environment saw rates move lower and risk premiums narrow as investors sought potentially greater yield. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 prospectus, is 0.27%. This rate can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights in this report.

Hypothetical Illustration of $10,000 Invested in
Muni Intermediate Portfolio vs.
Barclays Capital Municipal 1-10 Year Blend Index and
Morningstar Muni National Short Average
10/31/02 through 10/31/12


*		Index commenced 6/30/93. Thus Portfolio inception comparisons are not provided.
**		Assumes the reinvestment of all dividends and distributions.


		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE PORTFOLIOS

New Jersey Muni Portfolio
PORTFOLIO HIGHLIGHTS
October 31, 2012


Average Annual Total Return
						Morningstar
			Barclays Capital			Muni Single-State
			Municipal 1-10			Intermediate
New Jersey Muni Portfolio			Year Blend Index			Average
Year ended 10/31/12	3.90	%		5.78	%		7.08	%
Five Years ended 10/31/12	4.00	%		5.39	%		4.61	%
Ten Years Ended 10/31/12	3.54	%		4.45	%		3.89	%
Inception (11/01/93) through 10/31/12¹	4.26	%		4.72	%		N/A

New Jersey Muni Portfolio underperformed its primary benchmark, the Barclays Capital Municipal 1-10 Year Blend Index. Municipal rates fell and risk premiums narrowed during this period as investors reached for potentially greater yield. The Portfolio has maintained a duration shorter than the benchmark, as well as a significant concentration in higher rated issuers. This allows the Portfolio to be consistent with the goal of principal preservation. The Portfolio also seeks high, current tax-exempt interest income, which has been difficult to obtain in this low interest rate environment. The Portfolio’s gross annual operating expense ratio, as stated in the February 28, 2012 prospectus, is 0.30%. This rate can fluctuate and may differ from the expense ratio disclosed in the Financial Highlights in this report.

Hypothetical Illustration of $10,000 Invested in
New Jersey Muni Portfolio vs.
Barclays Capital Municipal 1-10 Year Blend Index and
Morningstar Muni Single-State Intermediate Average
10/31/02 through 10/31/12


*		Assumes the reinvestment of all dividends and distributions.


¹		Benchmark returns are for the period beginning October 31, 1993.
		The indices and certain terms are defined on pages 25 to 27.

THE GLENMEDE FUND, INC.
THE GLENMEDE PORTFOLIOS

Glossary of Indices & Terms

Indices — It is not possible to invest directly in an index.

Barclays Capital Municipal 1-10 Year Blend Index is a composite index made up of several different broad sub-indices: the Barclays Capital Municipal 1-Year Index; Barclays Capital Municipal 3-Year Index; Barclays Capital Municipal 5-Year Index; Barclays Capital Municipal 7-Year Index and the Barclays Capital Municipal 10-Year Index. The total of all these indices represents all maturities between 1-10 Years.

Barclays Capital 3-Month U.S. Treasury Bellwether Index is a market value-weighted index of investment-grade fixed-rate public obligations of the U.S. Treasury with maturities of 3 months, excluding zero coupon strips.

Barclays Capital U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. These major sectors are subdivided into more specific indices that are calculated and reported on a regular basis. Indexes are rebalanced by market capitalization each month.

CBOE S&P 500 Buy-Write Index is an index designed to track the performance of a hypothetical covered call strategy on the S&P 500 Index.

iMoneyNet’s Government All Average™ is comprised of money market funds investing in U.S. treasury securities and government agency obligations.

iMoneyNet’s National Retail Tax-Free Average™ is comprised of money market funds investing in fixed-income securities issued by state and local governments. Generally, interest payments on securities qualify for exemption from Federal income taxes. Funds may also own municipal securities subject to the alternative minimum tax.

Morgan Stanley EAFE Index is an unmanaged capitalization weighted composite portfolio consisting of equity total returns of countries in Australia, New Zealand, Europe and the Far East.

MSCI EAFE Small Cap Index represents the small cap size segment of the Morgan Stanley EAFE Index, and consists of the securities of those companies whose securities are not included in the large cap or mid cap segments of a particular market, which together comprise approximately 85% of each market’s free float-adjusted market capitalization.

MSCI Emerging Markets Index is a float-adjusted market capitalization index that consists of indices in 26 emerging economies: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Jordan, Korea, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, Turkey and Venezuela.

Russell 1000 Index is an unmanaged market capitalization weighted total return index which is comprised of the 1,000 largest companies in the Russell 3000 Index.

Russell 1000 Growth Index is an unmanaged capitalization weighted total return index which is comprised of securities in the Russell 1000 Index with greater than average growth orientation.

THE GLENMEDE FUND, INC.
THE GLENMEDE PORTFOLIOS

Glossary of Indices & Terms — (Continued)

Russell 1000 Value Index is an unmanaged capitalization weighted total return index which is comprised of those securities in the Russell 1000 Index with a less than average growth orientation.

Russell 2000 Growth Index is an unmanaged capitalization weighted total return index which is comprised of those securities in the Russell 2000 Index with greater than average growth orientation.

Russell 2000 Index is an unmanaged market capitalization weighted total return index which measures the performance of the 2,000 smallest companies in the Russell 3000 Index.

Russell 3000 Index is an unmanaged capitalization weighted total return index which is comprised of the 3,000 largest U.S. companies based on total market capitalization. The Index re-balances annually.

S&P 500 Index is a market capitalization weighted index comprised of 500 widely held common stocks.

S&P SmallCap 600 Growth Index is comprised of the S&P 600 Index, a market capitalization weighted index of U.S. small cap stocks with capitalizations ranging from about $300 million to $2 billion, that exhibit the strongest growth characteristics.

Morningstar Foreign Large Value Average funds invest mainly in big international stocks that are less expensive than the market as a whole. Most of these funds divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. They tend to invest the rest in emerging markets such as Hong Kong, Brazil, Mexico and Thailand. These funds typically will have less than 20% of assets invested in U.S. stocks.

Morningstar Intermediate-Term Bond Average contains bond funds that have average durations of greater than 3.5 years and less than 6 years. Most of the funds rotate among a variety of sectors in the bond market, based upon which appear to offer better values.

Morningstar Large Blend Average funds are fairly representative of the overall U.S. Stock market in size, growth rates, and price. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds returns are often similar to those of the S&P 500 Index.

Morningstar Large Growth Average funds invest in big U.S. companies that are projected to grow faster than other large-cap stocks. This classification consists of stocks in the top 70% of the capitalization of the U.S. equity market defined as large-cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields). Most of these funds focus on companies in rapidly expanding industries.

Morningstar Large Value Average funds focus on big companies that are less expensive or growing more slowly than other large-cap stocks. These funds often feature investments in energy, financial, or manufacturing sectors.

Morningstar Long/Short Average funds aim to deliberately exploit market movements through the use of a variety of derivative instruments. These can include (but are not limited to) futures, options, swaps, short sells along with physical positions.

THE GLENMEDE FUND, INC.
THE GLENMEDE PORTFOLIOS

Glossary of Indices & Terms — (Concluded)

Morningstar Muni National Short Average invests in bonds with an average duration of less than 4.5 years issued by state and local governments to fund projects. Such bonds are free from federal taxes and from state taxes in the issuing state.

Morningstar Muni Single-State Intermediate Average invests in bonds with an average duration of more than 4.5 years but less than seven years issued by state and local governments to fund projects. Such bonds are free from federal taxes and from state taxes in the issuing state.

Morningstar Small Blend Average funds favor firms at the smaller end of the market-capitalization range, and are flexible in the types of small caps they buy. Some aim to own an array of value and growth stocks while others employ a discipline that leads to holdings with valuations and growth rates close to the small-cap averages.

Morningstar Small Growth Average funds invest in faster-growing companies whose shares are at the lower end of the market capitalization range. This classification consists of favored companies in up-and-coming industries or young firms in their early growth stages. Because these businesses are fast growing and often richly valued, their stocks tend to be volatile. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small-cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields).

Terms

Current Yield: also referred to as the “SEC Yield,” refers to the income generated by an investment in the Portfolio over a 7-day period. This income is then “annualized.” The “effective yield” is calculated similarly but, when annualized, the income earned by an investment in the Portfolio is assumed to be reinvested. The “effective yield” will be slightly higher than the “current yield” because of the compounding effect of this assumed reinvestment. The yield quotation more closely reflects the current earnings of the Portfolio than the total return quotation.

Cash flow: measures the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income.

Duration: is a commonly used measure of the potential volatility of the price of a debt security, or the aggregate market value of a portfolio of debt securities, prior to maturity. Securities with a longer duration generally have more volatile prices than securities of comparable quality with a shorter duration.

Free cash flow: revenue less operating expenses including interest expense and maintenance capital spending. It is the discretionary cash that a company has after all expenses and is available for purposes such as dividend payments, investing back into the business or share repurchases.

Market Cap: is the market price of an entire company, calculated by multiplying the number of shares outstanding by the price per share.

Total return: consists of price appreciation/depreciation and income as a percentage of the original investment.

THE GLENMEDE FUND, INC.

Shareholder Expenses (Unaudited)

As a shareholder of a Glenmede Portfolio, you incur ongoing costs, including management fees and/or shareholder servicing fees and other portfolio expenses. In addition to these ongoing costs, shareholders of Philadelphia International Small Cap Fund and Philadelphia International Emerging Markets Fund may incur transaction costs in the form of purchase premiums and redemption fees. The following example is intended to help you understand your ongoing costs (in dollars and cents) of investing in a Glenmede Portfolio 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 from May 1, 2012 to October 31, 2012.

Actual Expenses

The first line under each Portfolio in the table below 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 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Portfolio under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line under each Portfolio in the table below provides information about hypothetical account values and hypothetical expenses based on each Portfolio’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio’s 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 your Portfolio 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.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as the purchase premiums and redemption fees, you may incur as a shareholder of either the Philadelphia International Small Cap Fund or the Philadelphia International Emerging Markets Fund. If these transactional costs were included, your costs would have been higher. Therefore, the second line under each Portfolio in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds whose shareholders

THE GLENMEDE FUND, INC.

Shareholder Expenses (Unaudited) — (Continued)

may incur transaction costs such as sales charges (loads), redemption fees or exchange fees.


								Expenses
	Beginning		Ending					Paid During
	Account		Account		Annualized			Period*
	Value		Value		Expense			(May 1 to
	(May 1, 2012)		(October 31, 2012)		Ratio			October 31, 2012)

Government Cash Portfolio
Actual	$	1,000.00	$	1,000.00		0.18	%	$	0.90
Hypothetical (5% return less expenses)		1,000.00		1,024.20		0.18			0.92
Tax-Exempt Cash Portfolio
Actual		1,000.00		1,000.00		0.16			0.80
Hypothetical (5% return less expenses)		1,000.00		1,024.30		0.16			0.81
Core Fixed Income Portfolio
Actual		1,000.00		1,023.60		0.57			2.90
Hypothetical (5% return less expenses)		1,000.00		1,022.30		0.57			2.90
Strategic Equity Portfolio
Actual		1,000.00		987.10		0.87			4.35
Hypothetical (5% return less expenses)		1,000.00		1,020.80		0.87			4.42
Small Cap Equity Portfolio - Advisor
Actual		1,000.00		1,002.00		0.94			4.73
Hypothetical (5% return less expenses)		1,000.00		1,020.40		0.94			4.77
Small Cap Equity Portfolio - Institutional
Actual		1,000.00		1,002.50		0.74			3.72
Hypothetical (5% return less expenses)		1,000.00		1,021.40		0.74			3.76
Large Cap Value Portfolio
Actual		1,000.00		1,018.30		0.93			4.72
Hypothetical (5% return less expenses)		1,000.00		1,020.50		0.93			4.72
U.S. Emerging Growth Portfolio
Actual		1,000.00		974.20		1.01			5.01
Hypothetical (5% return less expenses)		1,000.00		1,020.10		1.01			5.13
Large Cap 100 Portfolio
Actual		1,000.00		1,006.10		0.89			4.49
Hypothetical (5% return less expenses)		1,000.00		1,020.70		0.89			4.52
Large Cap Growth Portfolio
Actual		1,000.00		973.80		0.90			4.47
Hypothetical (5% return less expenses)		1,000.00		1,020.60		0.90			4.57
Long/Short Portfolio
Actual		1,000.00		1,006.50		1.25			6.30
Hypothetical (5% return less expenses)		1,000.00		1,018.90		1.25			6.34

THE GLENMEDE FUND, INC.

Shareholder Expenses (Unaudited) — (Concluded)


								Expenses
	Beginning		Ending					Paid During
	Account		Account		Annualized			Period*
	Value		Value		Expense			(May 1 to
	(May 1, 2012)		(October 31, 2012)		Ratio			October 31, 2012)

Total Market Portfolio
Actual	$	1,000.00	$	989.10		1.25	%	$	6.40
Hypothetical (5% return less expenses)		1,000.00		1,018.90		1.25			6.50
Secured Options Portfolio
Actual		1,000.00		1,023.90		0.89			4.53
Hypothetical (5% return less expenses)		1,000.00		1,020.70		0.89			4.52
International Secured Options Portfolio**
Actual		1,000.00		1,015.00		1.00			0.85
Hypothetical (5% return less expenses)		1,000.00		1,003.40		1.00			0.85
International Portfolio
Actual		1,000.00		992.70		1.14			5.71
Hypothetical (5% return less expenses)		1,000.00		1,019.40		1.14			5.79
Philadelphia International Fund
Actual		1,000.00		995.00		1.07			5.37
Hypothetical (5% return less expenses)		1,000.00		1,019.80		1.07			5.43
Philadelphia International Small Cap Fund - Class IV
Actual		1,000.00		1,008.50		1.10			5.55
Hypothetical (5% return less expenses)		1,000.00		1,019.60		1.10			5.58
Philadelphia International Emerging Markets Fund - Class IV
Actual		1,000.00		980.00		1.25			6.22
Hypothetical (5% return less expenses)		1,000.00		1,018.90		1.25			6.34


*		Expenses are calculated using the Portfolio’s annualized expense ratio (as disclosed in the table), which is net of fee waivers and expense reimbursements, if any, multiplied by the average account value for the period, multiplied by the number of days in the period (184 days), and divided by the number of days in the calendar year (366 days).
**		The Portfolio commenced operations on September 28, 2012. Expenses are calculated using the Portfolio’s annualized expense ratio (as disclosed in the table), which is net of fee waivers and expense reimbursements, if any, multiplied by the average account value for the period, multiplied by the number of days in the period (31 days) (the Portfolio began accruing expenses on September 30, 2012), and divided by the number of days in the calendar year (366 days).

THE GLENMEDE PORTFOLIOS

Shareholder Expenses (Unaudited)

As a shareholder of a Glenmede Portfolio, you incur ongoing costs, including shareholder servicing fees and other portfolio expenses. The following example is intended to help you understand your ongoing costs (in dollars and cents) of investing in a Glenmede Portfolio 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 from May 1, 2012 to October 31, 2012.

Actual Expenses

Hypothetical Example for Comparison Purposes

Please note that the expenses shown in the table are meant to highlight your ongoing costs only. As a shareholder of a Glenmede Portfolio, you do not incur any transaction costs, such as sales charges (loads), redemption fees or exchange fees, but shareholders of other funds may incur such costs. Therefore, the second line under each Portfolio in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds whose shareholders may incur transaction costs.

Expenses

Beginning

Ending

Paid During

Account

Annualized

Period*

Value

Expense

(May 1 to

(May 1, 2012)

(October 31, 2012)

Ratio

October 31, 2012)

Muni Intermediate Portfolio

Actual

1,000.00

1,015.80

0.27

1.37

Hypothetical (5% return less expenses)

1,000.00

1,023.80

0.27

1.37

THE GLENMEDE PORTFOLIOS

Shareholder Expenses (Unaudited) — (Concluded)

Expenses

Beginning

Ending

Paid During

Account

Annualized

Period*

Value

Expense

(May 1 to

(May 1, 2012)

(October 31, 2012)

Ratio

October 31, 2012)

New Jersey Muni Portfolio

Actual

1,000.00

1,013.70

0.30

1.52

Hypothetical (5% return less expenses)

1,000.00

1,023.60

0.30

1.53


*		Expenses are calculated using the Portfolio’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (184 days), and divided by the number of days in the calendar year (366 days).

THE GLENMEDE FUND, INC.

STATEMENTS OF ASSETS AND LIABILITIES

October 31, 2012


							Core
	Government			Tax-Exempt			Fixed
	Cash			Cash			Income
	Portfolio			Portfolio			Portfolio
Assets:
Investments¹:
Investments at value²	$	426,127,816		$	679,285,380		$	465,818,797
Repurchase agreements at value		317,713,491			—			17,360,047

Total investments		743,841,307			679,285,380			483,178,844

Cash		—			89,140			—
Receivable for fund shares sold		—			—			525,000
Interest receivable		559,448			233,290			3,294,243
Prepaid expenses		27,393			28,233			15,629

Total assets		744,428,148			679,636,043			487,013,716


Liabilities:
Obligation to return securities lending collateral		4,115,000			—			6,064,480
Payable for fund shares redeemed		—			—			145,112
Dividend payable		441			31			—
Payable for Investment Advisory fees		—			—			150,680
Payable for Directors’ fees		19,150			18,847			12,597
Payable to Affiliate		46,929			29,975			43,053
Accrued expenses		168,249			160,944			98,689

Total liabilities		4,349,769			209,797			6,514,611


Net Assets	$	740,078,379		$	679,426,246		$	480,499,105

Net Assets consist of:
Par value ($0.001 of shares outstanding)		740,086			679,636			40,906
Paid-in capital in excess of par value		739,345,679			678,746,215			448,569,540
Undistributed net investment income		38			1,195			1,129,230
Accumulated net realized gain (loss) from investment transactions		(7,424	)		(800	)		1,130,052
Net unrealized appreciation on investments		—			—			29,629,377

Total Net Assets		740,078,379			679,426,246			480,499,105


Shares Outstanding³		740,085,864			679,635,890			40,906,413


Net Asset Value Per Share	$	1.00		$	1.00		$	11.75



¹ Investment at cost	$	743,841,307		$	679,285,380		$	453,549,467
² Market value of securities on loan	$	4,032,845		$	—		$	5,953,629
³ Authorized shares		1,390,000,000			1,390,000,000			60,000,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF ASSETS AND LIABILITIES — (Continued)

October 31, 2012


			Small		Large
	Strategic		Cap		Cap
	Equity		Equity		Value
	Portfolio		Portfolio		Portfolio
Assets:
Investments¹:
Investments at value²	$	167,661,302	$	411,066,809	$	79,290,197
Repurchase agreements at value		2,888,191		9,676,707		1,010,141

Total investments		170,549,493		420,743,516		80,300,338

Receivable for securities sold		—		5,449,235		—
Receivable for fund shares sold		53,820		284,320		1,229
Dividends receivable		196,396		49,206		217,250
Interest receivable		245		120,999		131
Prepaid expenses		6,340		11,539		4,294

Total assets		170,806,294		426,658,815		80,523,242


Liabilities:
Payable for securities purchased		—		6,234,190		—
Obligation to return securities lending collateral		—		41,306,224		3,276,683
Payable for fund shares redeemed		65,700		905,072		59,450
Payable for Investment Advisory fees		86,223		184,085		38,626
Payable for Directors’ fees		4,542		9,015		2,931
Payable to Affiliate		31,354		81,108		14,050
Accrued expenses		38,291		72,975		24,695

Total liabilities		226,110		48,792,669		3,416,435


Net Assets	$	170,580,184	$	377,866,146	$	77,106,807

Net Assets consist of:
Par value ($0.001 of shares outstanding)		8,886		20,687		7,303
Paid-in capital in excess of par value		128,712,241		335,688,702		67,467,819
Undistributed net investment income		63,541		74,704		179,179
Accumulated net realized gain from investment transactions		1,781,812		1,695,396		2,978,008
Net unrealized appreciation on investments		40,013,704		40,386,657		6,474,498

Total Net Assets		170,580,184		377,866,146		77,106,807


Shares Outstanding³		8,885,700		20,687,067		7,302,563


Net Asset Value Per Share	$	19.20	$	—	$	10.56

Advisor Class — based on net assets of $363,561,130 and shares outstanding of 19,928,428 (80,000,000 authorized shares)		—		18.24		—

Institutional Class — based on net assets of $14,305,016 and shares outstanding of 758,639 (35,000,000 authorized shares)⁴		—		18.86		—



¹ Investment at cost	$	130,535,789	$	380,356,859	$	73,825,840
² Market value of securities on loan	$	—	$	40,693,553	$	3,171,108
³ Authorized shares		75,000,000		115,000,000		75,000,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF ASSETS AND LIABILITIES — (Continued)

October 31, 2012


	U.S.			Large			Large
	Emerging			Cap			Cap
	Growth			100			Growth
	Portfolio			Portfolio			Portfolio
Assets:
Investments¹:
Investments at value²	$	33,237,646		$	121,471,819		$	93,037,464
Repurchase agreements at value		129,869			513,548			494,951

Total investments		33,367,515			121,985,367			93,532,415

Receivable for fund shares sold		50,468			220,335			47,481
Dividends receivable		20,279			107,896			52,154
Interest receivable		2,794			770			—
Prepaid expenses		770			3,790			2,868

Total assets		33,441,826			122,318,158			93,634,918


Liabilities:
Obligation to return securities lending collateral		6,030,250			6,957,664			—
Payable for fund shares redeemed		—			48,515			22,316
Payable for Investment Advisory fees		13,684			57,771			46,804
Payable for Directors’ fees		687			2,927			2,352
Payable to Affiliate		6,220			21,000			17,026
Accrued expenses		5,810			25,787			19,902

Total liabilities		6,056,651			7,113,664			108,400


Net Assets	$	27,385,175		$	115,204,494		$	93,526,518

Net Assets consist of:
Par value ($0.001 of shares outstanding)		3,719			8,170			6,314
Paid-in capital in excess of par value		28,731,360			105,017,507			85,601,479
Undistributed net investment income		—			51,272			—
Accumulated net realized loss from investment transactions		(4,136,722	)		(9,953,970	)		(2,928,383	)
Net unrealized appreciation on investments		2,786,818			20,081,515			10,847,108

Total Net Assets		27,385,175			115,204,494			93,526,518


Shares Outstanding³		3,719,292			8,169,932			6,314,033


Net Asset Value Per Share	$	7.36		$	14.10		$	14.81



¹ Investment at cost	$	30,580,697		$	101,903,852		$	82,685,307
² Market value of securities on loan	$	5,854,786		$	6,780,579		$	—
³ Authorized shares		75,000,000			20,000,000			20,000,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF ASSETS AND LIABILITIES — (Continued)

October 31, 2012


				Total			Secured
	Long/Short			Market			Options
	Portfolio			Portfolio			Portfolio
Assets:
Investments¹:
Investments at value²	$	17,546,486		$	58,133,610		$	257,527,890
Repurchase agreements at value		326,048			462,827			29,411,404

Total investments		17,872,534			58,596,437			286,939,294

Receivable from Advisor		3,464			5,248			—
Receivable for fund shares sold		—			1,431			307,466
Dividends receivable		7,594			56,735			—
Interest receivable		763			796			8
Cash collateral on deposit at broker (Note 1)		8,338,235			13,029,372			100,675,000
Prepaid expenses		646			1,749			12,344

Total assets		26,223,236			71,691,768			387,934,112


Liabilities:
Obligation to return securities lending collateral		4,281,947			14,162,572			—
Payable for fund shares redeemed		—			23,000			95,610
Options written, at value³		—			—			12,323,700
Dividend payable on securities sold short		7,933			27,105			—
Payable for securities sold short, at value⁴		8,163,588			12,798,077			—
Payable for Investment Advisory fees		10,516			34,540			186,608
Payable for Directors’ fees		381			1,179			9,591
Payable to Affiliate		2,477			8,128			67,857
Accrued expenses		4,830			17,897			76,139

Total liabilities		12,471,672			27,072,498			12,759,505


Net Assets	$	13,751,564		$	44,619,270		$	375,174,607

Net Assets consist of:
Par value ($0.001 of shares outstanding)		1,480			4,610			28,259
Paid-in capital in excess of par value		20,762,346			46,962,069			333,741,962
Distributions in excess of net investment income		(137,315	)		(37,180	)		(34,411	)
Accumulated net realized gain (loss) from investment transactions		(8,842,636	)		(9,918,083	)		47,029,664
Net unrealized appreciation on investments		1,371,997			6,751,363			196,901
Net unrealized appreciation (depreciation) on options written		—			—			(5,787,768	)
Net unrealized appreciation on securities sold short		595,692			856,491			—

Total Net Assets		13,751,564			44,619,270			375,174,607


Shares Outstanding⁵		1,479,796			4,610,350			28,259,093


Net Asset Value Per Share	$	9.29		$	9.68		$	13.28



¹ Investment at cost	$	16,500,537		$	51,845,074		$	286,742,393
² Market value of securities on loan	$	4,189,087		$	13,916,049		$	—
³ Premiums received from options written	$	—		$	—		$	6,535,932
⁴ Proceeds from securities sold short	$	8,759,280		$	13,654,568		$	—
⁵ Authorized shares		20,000,000			20,000,000			40,000,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF ASSETS AND LIABILITIES — (Continued)

October 31, 2012


	International
	Secured					Philadelphia
	Options		International			International
	Portfolio⁶		Portfolio			Fund
Assets:
Investments¹:
Investments at value²	$	2,074,496	$	160,094,195		$	47,346,825
Repurchase agreements at value		702,599		2,615,850			630,165

Total investments		2,777,095		162,710,045			47,976,990

Foreign currency, at value (Note 1)³		—		8,556			2,614
Receivable from Advisor		18,643		—			1,368
Receivable for securities sold		339,860		290,264			80,587
Receivable for fund shares sold		10,231,350		1,237			9,561
Dividends receivable		—		460,741			128,821
Interest receivable		—		1,522			636
Cash collateral on deposit at broker (Note 1)		8,339,100		—			—
Foreign tax reclaims receivable		—		117,319			59,950
Prepaid expenses		33,458		6,350			2,028

Total assets		21,739,506		163,596,034			48,262,555


Liabilities:
Payable for securities purchased		—		1,433,452			417,212
Payable for spot foreign currency contracts purchased		—		229			71
Obligation to return securities lending collateral		—		5,882,434			2,361,120
Payable for fund shares redeemed		—		35,736			8,376
Options written, at value⁴		605,147		—			—
Payable for Investment Advisory fees		3,828		107,543			30,979
Payable for Directors’ fees		172		4,445			1,387
Payable for offering costs		1,557		—			—
Payable to Affiliate		1,392		35,823			—
Accrued expenses		12,817		49,966			18,362

Total liabilities		624,913		7,549,628			2,837,507


Net Assets	$	21,114,593	$	156,046,406		$	45,425,048

Net Assets consist of:
Par value ($0.001 of shares outstanding)		2,080		13,141			4,225
Paid-in capital in excess of par value		21,017,383		226,240,045			128,851,589
Undistributed (distributions in excess of) net investment income		—		(980	)		(287	)
Accumulated net realized gain (loss) from investment transactions		58,288		(81,279,779	)		(87,822,346	)
Net unrealized appreciation on investments		9,443		11,089,967			4,394,934
Net unrealized appreciation on options written		27,399		—			—
Net unrealized appreciation (depreciation) on foreign currencies		—		(15,988	)		(3,067	)

Total Net Assets		21,114,593		156,046,406			45,425,048


Shares Outstanding⁵		2,080,184		13,140,662			4,224,997


Net Asset Value Per Share	$	10.15	$	11.88		$	10.75



¹ Investment at cost	$	2,767,652	$	151,620,078		$	43,582,056
² Market value of securities on loan	$	—	$	5,581,414		$	2,242,804
³ Foreign currency cost	$	—	$	8,579		$	2,621
⁴ Premiums received from options written	$	632,546	$	—		$	—
⁵ Authorized shares		20,000,000		55,000,000			70,000,000
⁶ The International Secured Options Portfolio commenced operations on September 28, 2012.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF ASSETS AND LIABILITIES — (Concluded)
October 31, 2012


	Philadelphia			Philadelphia
	International			International
	Small			Emerging
	Cap			Markets
	Fund			Fund
Assets:
Investments¹:
Investments at value	$	6,765,164		$	41,103,199
Repurchase agreements at value		18,818			178,591

Total investments		6,783,982			41,281,790

Foreign currency, at value (Note 1)²		676			4,933
Receivable from Advisor		8,969			9,312
Receivable for spot foreign currency contracts sold		301			244
Dividends receivable		27,984			36,297
Foreign tax reclaims receivable		928			—
Prepaid expenses		142			340

Total assets		6,822,982			41,332,916


Liabilities:
Payable for securities purchased		372			—
Payable for spot foreign currency contracts purchased		301			244
Payable for Investment Advisory fees		3,652			24,372
Payable for Directors’ fees		120			960
Payable to Affiliate		122			750
Accrued expenses		18,910			34,613

Total liabilities		23,477			60,939


Net Assets	$	6,799,505		$	41,271,977

Net Assets consist of:
Par value ($0.001 of shares outstanding)		766			4,725
Paid-in capital in excess of par value		6,937,297			38,763,288
Undistributed (distributions in excess of) net investment income		5,773			(1,058	)
Accumulated net realized gain (loss) from investment transactions		(297,605	)		422,561
Net unrealized appreciation on investments		153,795			2,089,662
Net unrealized depreciation on foreign currencies		(521	)		(7,201	)

Total Net Assets		6,799,505			41,271,977


Shares Outstanding³		765,551			4,724,629


Net Asset Value Per Share	$	8.88		$	8.74

Class IV — based on net assets of $6,799,505 and $41,271,977, respectively and shares outstanding of 765,551 and 4,724,629, respectively		8.88			8.74



¹ Investment at cost	$	6,630,187		$	39,192,128
² Foreign currency cost	$	675		$	4,938
³ Authorized shares - Class I		10,000,000			10,000,000
³ Authorized shares - Class IV		10,000,000			10,000,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF OPERATIONS

For the Year Ended October 31, 2012


							Core
	Government			Tax-Exempt			Fixed
	Cash			Cash			Income
	Portfolio			Portfolio			Portfolio
Investment income:
Interest	$	1,266,916		$	919,780		$	13,324,666
Income from security lending		2,422			—			22,089

Total investment income		1,269,338			919,780			13,346,755

Expenses:
Management fees		—			—			1,469,043
Administration, transfer agent and custody fees		426,842			400,912			260,511
Professional fees		192,466			176,989			109,601
Shareholder report expenses		45,574			41,615			23,208
Shareholder servicing fees		730,523			664,316			419,727
Directors’ fees and expenses		79,344			74,223			46,076
Registration and filing fees		4,389			5,237			6,247
Other expenses		89,418			72,929			40,461


Total expenses		1,568,556			1,436,221			2,374,874

Less expenses waived/reimbursed		(301,908	)		(517,970	)		—


Net expenses		1,266,648			918,251			2,374,874

Net investment income		2,690			1,529			10,971,881

Realized and unrealized gain (loss):
Net realized gain (loss) on:
Investment transactions		(7,424	)		—			2,504,808

Net change in unrealized gain of:
Investments		—			—			8,735,733

Net realized and unrealized gain (loss)		(7,424	)		—			11,240,541

Net increase (decrease) in net assets resulting from operations	$	(4,734	)	$	1,529		$	22,212,422

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF OPERATIONS — (Continued)

For the Year Ended October 31, 2012


			Small		Large
	Strategic		Cap		Cap
	Equity		Equity		Value
	Portfolio		Portfolio		Portfolio
Investment income:
Dividends	$	3,084,848	$	3,951,379	$	2,176,199
Interest		131		733		124
Income from security lending		12,930		400,748		5,376

Total investment income		3,097,909		4,352,860		2,181,699

Expenses:
Management fees		918,458		1,698,552		555,258
Administration, transfer agent and custody fees		98,391		196,893		77,153
Professional fees		44,954		81,933		28,970
Shareholder report expenses		10,922		22,225		8,196
Shareholder servicing fees (Advisor Class)		333,985		747,428		201,912
Shareholder servicing fees (Institutional Class)		—		4,928		—
Directors’ fees and expenses		18,075		33,150		11,977
Registration and filing fees		7,983		53,688		19,902
Other expenses		17,659		26,026		10,296


Total expenses		1,450,427		2,864,823		913,664


Net investment income		1,647,482		1,488,037		1,268,035

Realized and unrealized gain (loss):
Net realized gain on:
Investment transactions		5,563,959		7,356,375		8,214,919

Net change in unrealized gain of:
Investments		12,411,861		17,500,523		2,722,108

Net realized and unrealized gain		17,975,820		24,856,898		10,937,027

Net increase in net assets resulting from operations	$	19,623,302	$	26,344,935	$	12,205,062

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF OPERATIONS — (Continued)

For the Year Ended October 31, 2012


	U.S.		Large		Large
	Emerging		Cap		Cap
	Growth		100		Growth
	Portfolio		Portfolio		Portfolio
Investment income:
Dividends¹	$	262,912	$	2,231,034	$	1,156,187
Interest		19		71		69
Income from security lending		20,725		9,092		—

Total investment income		283,656		2,240,197		1,156,256

Expenses:
Management fees		134,351		584,681		452,878
Administration, transfer agent and custody fees		23,733		70,571		58,563
Professional fees		6,095		27,505		21,416
Shareholder report expenses		1,917		7,649		5,750
Shareholder servicing fees		61,068		212,612		164,683
Directors’ fees and expenses		2,590		11,430		8,814
Registration and filing fees		10,921		10,657		10,661
Other expenses		2,613		11,114		8,433


Total expenses		243,288		936,219		731,198


Net investment income		40,368		1,303,978		425,058

Realized and unrealized gain (loss):
Net realized gain on:
Investment transactions		260,178		6,060,685		2,892,899

Net change in unrealized gain of:
Investments		1,224,594		5,208,478		2,361,557

Net realized and unrealized gain		1,484,772		11,269,163		5,254,456

Net increase in net assets resulting from operations	$	1,525,140	$	12,573,141	$	5,679,514


¹		The Large Cap 100 Portfolio and Large Cap Growth Portfolio had foreign dividend withholding taxes of $155 and $988, respectively.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF OPERATIONS — (Continued)

For the Year Ended October 31, 2012


				Total			Secured
	Long/Short			Market			Options
	Portfolio			Portfolio			Portfolio
Investment income:
Dividends	$	290,825		$	1,082,729		$	93,299
Interest		58			44			2,788
Income from security lending		11,075			11,256			—

Total investment income		301,958			1,094,029			96,087

Expenses:
Management fees		183,745			551,852			1,792,098
Administration, transfer agent and custody fees		18,948			37,432			227,194
Professional fees		4,124			42,263			85,326
Shareholder report expenses		2,188			3,669			23,608
Shareholder servicing fees		30,624			91,976			651,672
Dividends on securities sold short		236,889			303,486			—
Directors’ fees and expenses		1,713			4,998			35,388
Short position flex fees		—			83,272			—
Registration and filing fees		10,293			15,458			21,894
Other expenses		1,847			5,150			28,947


Total expenses		490,371			1,139,556			2,866,127

Less expenses waived/reimbursed		(62,072	)		(177,960	)		—


Net expenses		428,299			961,596			2,866,127

Net investment income (loss)		(126,341	)		132,433			(2,770,040	)

Realized and unrealized gain (loss):
Net realized gain (loss) on:
Investment transactions		752,297			3,537,269			(782,825	)
Options written		—			—			51,872,790
Securities sold short		(701,818	)		(1,170,100	)		—
Foreign currency transactions		(11	)		(17	)		—

Net realized gain		50,468			2,367,152			51,089,965

Net change in unrealized gain (loss) of:
Investments		465,791			1,442,001			(93,082	)
Options written		—			—			(7,052,990	)
Securities sold short		220,459			94,805			—
Foreign currency translation		(2	)		(2	)		—

Net change in unrealized gain (loss)		686,248			1,536,804			(7,146,072	)

Net realized and unrealized gain		736,716			3,903,956			43,943,893

Net increase in net assets resulting from operations	$	610,375		$	4,036,389		$	41,173,853

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF OPERATIONS — (Continued)

For the Year Ended October 31, 2012


	International
	Secured						Philadelphia
	Options			International			International
	Portfolio¹			Portfolio			Fund
Investment income:
Dividends²	$	—		$	6,989,534		$	1,947,841
Interest		3			176			113
Income from security lending		—			283,896			69,960

Total investment income		3			7,273,606			2,017,914

Expenses:
Management fees		3,828			1,508,275			452,627
Administration, transfer agent and custody fees		536			149,348			81,206
Professional fees		12,166			52,003			15,838
Shareholder report expenses		112			18,265			8,474
Shareholder servicing fees		1,392			502,758			—
Directors’ fees and expenses		172			21,489			6,674
Offering costs		29			—			—
Registration and filing fees		4,099			10,689			27,038
Other expenses		3,267			35,640			13,050


Total expenses		25,601			2,298,467			604,907

Less expenses waived/reimbursed		(18,643	)		—			(1,368	)


Net expenses		6,958			2,298,467			603,539

Net investment income (loss)		(6,955	)		4,975,139			1,414,375

Realized and unrealized gain (loss):
Net realized gain (loss) on:
Investment transactions		—			(2,085,097	)		181,407
Options written		65,243			—			—
Foreign currency transactions		—			(323,942	)		(72,538	)

Net realized gain (loss)		65,243			(2,409,039	)		108,869

Net change in unrealized gain (loss) of:
Investments		9,443			(3,134,482	)		1,131,144
Options written		27,399			—			—
Foreign currency translation		—			(69,853	)		(18,374	)

Net change in unrealized gain (loss)		36,842			(3,204,335	)		1,112,770

Net realized and unrealized gain (loss)		102,085			(5,613,374	)		1,221,639

Net increase (decrease) in net assets resulting from operations	$	95,130		$	(638,235	)	$	2,636,014


¹		The International Secured Options Portfolio commenced operations on September 28, 2012.
²		The International Portfolio and Philadelphia International Fund had foreign dividend withholding taxes of $596,970 and $165,532, respectively.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF OPERATIONS — (Concluded)
For the Year Ended October 31, 2012


	Philadelphia			Philadelphia
	International			International
	Small			Emerging
	Cap			Markets
	Fund			Fund
Investment income:
Dividends¹	$	173,633		$	406,711
Interest		4			106

Total investment income		173,637			406,817

Expenses:
Management fees		24,154			89,264
Administration, transfer agent and custody fees		65,736			147,768
Professional fees		12,533			13,819
Shareholder report expenses		4,016			4,376
Shareholder servicing fees (Class IV)		805			2,747
Directors’ fees and expenses		424			1,379
Registration and filing fees		1,660			2,940
Other expenses		1,220			1,384


Total expenses		110,548			263,677

Less expenses waived/reimbursed		(66,235	)		(92,014	)


Net expenses		44,313			171,663

Net investment income		129,324			235,154

Realized and unrealized gain (loss):
Net realized gain (loss) on:
Investment transactions		(171,251	)		483,082
Foreign currency transactions		(18,539	)		(83,544	)

Net realized gain (loss)		(189,790	)		399,538

Net change in unrealized gain (loss) of:
Investments		592,088			2,454,526
Foreign currency translation		(414	)		(6,732	)

Net change in unrealized gain		591,674			2,447,794

Net realized and unrealized gain		401,884			2,847,332

Net increase in net assets resulting from operations	$	531,208		$	3,082,486


¹		The Philadelphia International Small Cap Fund and Philadelphia International Emerging Markets Fund had foreign dividend withholding taxes of $14,233 and $56,754, respectively.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF CHANGES IN NET ASSETS

For the Year Ended October 31, 2012


							Core
	Government			Tax-Exempt			Fixed
	Cash			Cash			Income
	Portfolio			Portfolio			Portfolio
Increase (decrease) in net assets
Operations:
Net investment income	$	2,690		$	1,529		$	10,971,881
Net realized gain on:
Investment transactions		(7,424	)		—			2,504,808
Net change in unrealized gain of:
Investments		—			—			8,735,733

Net increase (decrease) in net assets resulting from operations		(4,734	)		1,529			22,212,422
Distributions to shareholders from:
Net investment income		(2,650	)		(1,534	)		(12,177,225	)
Net realized gain on investments		(9,801	)		—			(6,423,074	)
Net increase in net assets from capital share transactions		9,811,498			93,865,364			115,545,615

Net increase in net assets		9,794,313			93,865,359			119,157,738


NET ASSETS:
Beginning of year		730,284,066			585,560,887			361,341,367

End of year	$	740,078,379		$	679,426,246		$	480,499,105

Undistributed net investment income included in net assets at end of year	$	38		$	1,195		$	1,129,230


For the Year Ended October 31, 2011
							Core
	Government			Tax-Exempt			Fixed
	Cash			Cash			Income
	Portfolio			Portfolio			Portfolio
Increase (decrease) in net assets
Operations:
Net investment income	$	44,243		$	60,684		$	11,529,218
Net realized gain on:
Investment transactions		9,846			—			7,882,286
Net change in unrealized loss of:
Investments		—			—			(8,314,368	)

Net increase in net assets resulting from operations		54,089			60,684			11,097,136
Distributions to shareholders from:
Net investment income		(118,670	)		(60,689	)		(12,295,516	)
Net increase (decrease) in net assets from capital share transactions		63,860,487			34,677,928			(34,343,921	)

Net increase (decrease) in net assets		63,795,906			34,677,923			(35,542,301	)


NET ASSETS:
Beginning of year		666,488,160			550,882,964			396,883,668

End of year	$	730,284,066		$	585,560,887		$	361,341,367

Undistributed (distributions in excess of) net investment income included in net assets at end of year	$	(2	)	$	1,200		$	981,648

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF CHANGES IN NET ASSETS — (Continued)

For the Year Ended October 31, 2012


	Strategic			Small Cap			Large Cap
	Equity			Equity			Value
	Portfolio			Portfolio			Portfolio
Increase (decrease) in net assets
Operations:
Net investment income	$	1,647,482		$	1,488,037		$	1,268,035
Net realized gain on:
Investment transactions		5,563,959			7,356,375			8,214,919
Net change in unrealized gain of:
Investments		12,411,861			17,500,523			2,722,108

Net increase in net assets resulting from operations		19,623,302			26,344,935			12,205,062
Distributions to shareholders from:
Net investment income:
Advisor Class		(1,480,681	)		(1,383,390	)		(1,089,435	)
Institutional Class		—			(49,336	)		—
Net increase (decrease) in net assets from capital share transactions		(1,455,360	)		135,747,226			(20,881,770	)

Net increase (decrease) in net assets		16,687,261			160,659,435			(9,766,143	)


NET ASSETS:
Beginning of year		153,892,923			217,206,711			86,872,950

End of year	$	170,580,184		$	377,866,146		$	77,106,807

Undistributed net investment income included in net assets at end of year	$	63,541		$	74,704		$	179,179


For the Year Ended October 31, 2011
	Strategic			Small Cap			Large Cap
	Equity			Equity			Value
	Portfolio			Portfolio			Portfolio
Increase (decrease) in net assets
Operations:
Net investment income	$	1,182,153		$	25,115		$	532,275
Net realized loss on:
Investment transactions		8,065,191			13,241,921			(1,086,977	)
Net change in unrealized loss of:
Investments		168,075			(1,525,154	)		(1,259,508	)

Net increase (decrease) in net assets resulting from operations		9,415,419			11,741,882			(1,814,210	)
Distributions to shareholders from:
Net investment income:
Advisor Class		(1,168,107	)		(64,083	)		(531,696	)
Institutional Class		—			(68	)		—
Net increase (decrease) in net assets from capital share transactions		(11,581,569	)		76,699,717			41,735,024

Net increase (decrease) in net assets		(3,334,257	)		88,377,448			39,389,118


NET ASSETS:
Beginning of year		157,227,180			128,829,263			47,483,832

End of year	$	153,892,923		$	217,206,711		$	86,872,950

Undistributed net investment income included in net assets at end of year	$	—		$	3,833		$	579

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF CHANGES IN NET ASSETS — (Continued)

For the Year Ended October 31, 2012


	U.S.
	Emerging			Large Cap			Large Cap
	Growth			100			Growth
	Portfolio			Portfolio			Portfolio
Increase (decrease) in net assets
Operations:
Net investment income	$	40,368		$	1,303,978		$	425,058
Net realized gain on:
Investment transactions		260,178			6,060,685			2,892,899
Net change in unrealized gain of:
Investments		1,224,594			5,208,478			2,361,557

Net increase in net assets resulting from operations		1,525,140			12,573,141			5,679,514
Distributions to shareholders from:
Net investment income		(50,445	)		(1,343,458	)		(421,456	)
Net increase in net assets from capital share transactions		7,239,141			12,904,962			23,287,090

Net increase in net assets		8,713,836			24,134,645			28,545,148


NET ASSETS:
Beginning of year		18,671,339			91,069,849			64,981,370

End of year	$	27,385,175		$	115,204,494		$	93,526,518

Undistributed net investment income included in net assets at end of year	$	—		$	51,272		$	—


For the Year Ended October 31, 2011
	U.S.
	Emerging			Large Cap			Large Cap
	Growth			100			Growth
	Portfolio			Portfolio			Portfolio
Increase (decrease) in net assets
Operations:
Net investment income (loss)	$	(44,159	)	$	793,752		$	333,226
Net realized gain on:
Investment transactions		4,299,449			9,526,177			6,205,677
Net change in unrealized loss of:
Investments		(2,274,654	)		(1,400,849	)		(879,014	)

Net increase in net assets resulting from operations		1,980,636			8,919,080			5,659,889
Distributions to shareholders from:
Net investment income		—			(717,124	)		(320,756	)
Net increase (decrease) in net assets from capital share transactions		(952,639	)		(3,560,309	)		9,602,047

Net increase in net assets		1,027,997			4,641,647			14,941,180


NET ASSETS:
Beginning of year		17,643,342			86,428,202			50,040,190

End of year	$	18,671,339		$	91,069,849		$	64,981,370

Undistributed net investment income included in net assets at end of year	$	—		$	90,752		$	—

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF CHANGES IN NET ASSETS — (Continued)

For the Year Ended October 31, 2012


				Total			Secured
	Long/Short			Market			Options
	Portfolio			Portfolio			Portfolio
Increase (decrease) in net assets
Operations:
Net investment income (loss)	$	(126,341	)	$	132,433		$	(2,770,040	)
Net realized gain (loss) on:
Investment transactions		752,297			3,537,269			(782,825	)
Options written		—			—			51,872,790
Securities sold short		(701,818	)		(1,170,100	)		—
Foreign currency transactions		(11	)		(17	)		—
Net change in unrealized gain (loss) of:
Investments		465,791			1,442,001			(93,082	)
Options Written		—			—			(7,052,990	)
Securities sold short		220,459			94,805			—
Foreign currency translation		(2	)		(2	)		—

Net increase in net assets resulting from operations		610,375			4,036,389			41,173,853
Distributions to shareholders from:
Net investment income		—			(197,516	)		—
Net realized gain on investments		—			—			(9,307,348	)
Net increase (decrease) in net assets from capital share transactions		(1,225,920	)		(288,944	)		85,689,442

Net increase (decrease) in net assets		(615,545	)		3,549,929			117,555,947


NET ASSETS:
Beginning of year		14,367,109			41,069,341			257,618,660

End of year	$	13,751,564		$	44,619,270		$	375,174,607

Distributions in excess of net investment included in net assets at end of year	$	(137,315	)	$	(37,180	)	$	(34,411	)


For the Year Ended October 31, 2011
				Total			Secured
	Long/Short			Market			Options
	Portfolio			Portfolio			Portfolio
Increase (decrease) in net assets
Operations:
Net investment income (loss)	$	(81,077	)	$	54,471		$	(1,727,642	)
Net realized gain (loss) on:
Investment transactions		1,510,925			3,848,564			593,326
Options written		—			—			9,660,303
Securities sold short		(480,631	)		(1,084,096	)		—
Foreign currency transactions		(15	)		(16	)		—
Net change in unrealized gain (loss) of:
Investments		(538,266	)		(1,493,111	)		73,375
Options Written		—			—			775,508
Securities sold short		154,876			916,561			—
Foreign currency translation		2			2			—

Net increase in net assets resulting from operations		565,814			2,242,375			9,374,870
Distributions to shareholders from:
Net investment income		—			(29,993	)		—
Net realized gain on investments		—			—			(4,266,060	)
Net increase in net assets from capital share transactions		2,457,108			4,405,503			139,634,291

Net increase in net assets		3,022,922			6,617,885			144,743,101


NET ASSETS:
Beginning of year		11,344,187			34,451,456			112,875,559

End of year	$	14,367,109		$	41,069,341		$	257,618,660

Distributions in excess of net investment included in net assets at end of year	$	(28,417	)	$	(2,764	)	$	(37,082	)

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF CHANGES IN NET ASSETS — (Continued)

For the Period Ended October 31, 2012


	International
	Secured						Philadelphia
	Options			International			International
	Portfolio¹			Portfolio			Fund
Increase (decrease) in net assets
Operations:
Net investment income (loss)	$	(6,955	)	$	4,975,139		$	1,414,375
Net realized gain (loss) on:
Investment transactions		—			(2,085,097	)		181,407
Options written		65,243			—			—
Foreign currency transactions		—			(323,942	)		(72,538	)
Net change in unrealized gain (loss) of:
Investments		9,443			(3,134,482	)		1,131,144
Options Written		27,399			—			—
Foreign currency translation		—			(69,853	)		(18,374	)

Net increase (decrease) in net assets resulting from operations		95,130			(638,235	)		2,636,014
Distributions to shareholders from:
Net investment income		—			(4,875,733	)		(1,426,221	)
Tax Return of capital		—			(92,753	)		(19,893	)
Net increase (decrease) in net assets from capital share transactions		21,019,463			(109,775,046	)		(39,397,423	)

Net increase (decrease) in net assets		21,114,593			(115,381,767	)		(38,207,523	)


NET ASSETS:
Beginning of year		—			271,428,173			83,632,571

End of year	$	21,114,593		$	156,046,406		$	45,425,048

Undistributed (distributions in excess of) net investment income included in net assets at end of year	$	—		$	(980	)	$	(287	)


For the Period Ended October 31, 2011
							Philadelphia
				International			International
				Portfolio			Fund
Increase (decrease) in net assets
Operations:
Net investment income				$	8,048,955		$	2,389,160

Investment transactions					28,072,560			4,736,008
Foreign currency transactions					(384,426	)		(94,305	)

Investments					(55,947,908	)		(13,859,444	)
Foreign currency translation					(6,703	)		1,020

Net decrease in net assets resulting from operations					(20,217,522	)		(6,827,561	)
Distributions to shareholders from:
Net investment income					(7,733,015	)		(2,327,000	)
Net decrease in net assets from capital share transactions					(89,463,940	)		(13,402,241	)

Net decrease in net assets					(117,414,477	)		(22,556,802	)


NET ASSETS:
Beginning of year					388,842,650			106,189,373

End of year				$	271,428,173		$	83,632,571

Undistributed net investment income included in net assets at end of year				$	223,556		$	84,097

¹ The International Secured Options Portfolio commenced operations on September 28, 2012.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENTS OF CHANGES IN NET ASSETS — (Concluded)

For the Year Ended October 31, 2012


	Philadelphia			Philadelphia
	International			International
	Small Cap			Emerging
	Fund			Markets Fund
Increase (decrease) in net assets
Operations:
Net investment income	$	129,324		$	235,154
Net realized gain (loss) on:
Investment transactions		(171,251	)		483,082
Foreign currency transactions		(18,539	)		(83,544	)
Net change in unrealized gain (loss) of:
Investments		592,088			2,454,526
Foreign currency translation		(414	)		(6,732	)

Net increase in net assets resulting from operations		531,208			3,082,486
Distributions to shareholders from:
Net investment income:
Class IV		(112,000	)		(159,465	)
Net increase in net assets from capital share transactions		3,456,675			36,197,709

Net increase in net assets		3,875,883			39,120,730


NET ASSETS:
Beginning of period		2,923,622			2,151,247

End of period	$	6,799,505		$	41,271,977

Undistributed (distributions in excess of) net investment income included in net assets at end of year	$	5,773		$	(1,058	)


For the Year Ended October 31, 2011
	Philadelphia			Philadelphia
	International			International
	Small Cap			Emerging
	Fund¹			Markets Fund²
Increase (decrease) in net assets
Operations:
Net investment income	$	37,168		$	21,927
Net realized gain (loss) on:
Investment transactions		(113,450	)		(67,572	)
Foreign currency transactions		3,712			(8,079	)
Net change in unrealized loss of:
Investments		(438,293	)		(364,864	)
Foreign currency translation		(107	)		(469	)

Net decrease in net assets resulting from operations		(510,970	)		(419,057	)
Distributions to shareholders from:
Net investment income:
Class IV		(46,796	)		—
Net increase in net assets from capital share transactions		3,481,388			2,570,304

Net increase in net assets		2,923,622			2,151,247


NET ASSETS:
Beginning of period		—			—

End of period	$	2,923,622		$	2,151,247

Undistributed (distributions in excess of) net investment income included in net assets at end of year	$	(1,185	)	$	9,331

¹ The Philadelphia International Small Cap Fund commenced operations on May 31, 2011.

² The Philadelphia International Emerging Markets Fund commenced operations on June 30, 2011.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENT OF CASH FLOWS

For the Year Ended October 31, 2012


	Long/Short
	Portfolio
Cash Flows from operating activities
Net increase in net assets resulting from operations	$	610,375
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:
Investments purchased		(15,064,747	)
Investments sold		16,707,276
Purchases to cover securities sold short		(15,357,971	)
Securities sold short		14,291,446
(Purchase)/Sale of short term investments, net		(118,840	)
Decrease in Receivable from Investment Advisor		457
(Increase) in Interest receivable		(25	)
Decrease in Cash collateral on deposit at broker		937,022
(Increase) in Dividends receivable		(1,860	)
Decrease in Prepaid expenses		1,032
(Decrease) in Obligation to return Securities lending collateral		(60,290	)
Increase in Dividends payable for securities sold short		3,607
(Decrease) in Investment Advisory fees		(2,927	)
Increase in Directors fees		86
Increase in Payable to Affiliate		233
Increase in Accrued expenses		1,525
Net change in unrealized gain (loss) on investments		(465,791	)
Net realized gain from investments		(752,297	)
Net change in unrealized gain (loss) on securities sold short		(220,459	)
Net realized loss from securities sold short		701,818

Net cash provided by (used in) operating activities		1,209,670

Cash flows from financing activities
Proceeds from shares sold		2,957,900
Payments on shares redeemed		(4,167,570	)

Net cash provided by (used in) financing activities		(1,209,670	)

Net increase (decrease) in cash		—
Cash at beginning of period		—

Cash at end of period		—

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

STATEMENT OF CASH FLOWS — (Concluded)
For the Year Ended October 31, 2012


	Total
	Market
	Portfolio
Cash Flows from operating activities
Net increase in net assets resulting from operations	$	4,036,389
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:
Investments purchased		(71,106,437	)
Investments sold		70,049,539
Purchases to cover securities sold short		(23,599,344	)
Securities sold short		24,973,002
(Purchase)/Sale of short term investments, net		1,188,399
Decrease in Receivable from Investment Advisor		6,392
(Increase) in Interest receivable		(361	)
(Increase) in Cash collateral on deposit at broker		(2,145,513	)
(Increase) in Dividends receivable		(8,313	)
(Increase) in Prepaid expenses		(131	)
Increase in Obligation to return Securities lending collateral		892,323
Increase in Dividends payable for securities sold short		21,547
(Decrease) in Investment Advisory fees		(5,366	)
Increase in Directors fees		125
Increase in Payable to Affiliate		1,477
Increase in Accrued expenses		8,538
Net change in unrealized gain (loss) on investments		(1,442,001	)
Net realized gain from investments		(3,537,269	)
Net change in unrealized gain (loss) on securities sold short		(94,805	)
Net realized loss from securities sold short		1,170,100

Net cash provided by (used in) operating activities		408,291

Cash flows from financing activities
Proceeds from shares sold		13,910,989
Payments on shares redeemed		(14,157,546	)
Cash distributions paid		(161,734	)

Net cash provided by (used in) financing activities		(408,291	)

Net increase (decrease) in cash		—
Cash at beginning of period		—

Cash at end of period		—


Non-cash financial activities not included herein consist of reinvestment of $35,782

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Government Cash Portfolio
	For the Years Ended October 31,
	2012			2011¹			2010¹			2009			2008¹

Net asset value, beginning of year	$	1.00		$	1.00		$	1.00		$	1.00		$	1.00

Income from investment operations:
Net investment income		0.000	²		0.000²			0.001			0.007			0.031
Net realized gain (loss) on investments		0.000	²		0.000²			0.000			0.000			(0.001	)

Total from investment operations		0.000	²		0.000	²		0.001			0.007			0.030

Distributions to shareholders from:
Net investment income		(0.000	)²		(0.000	)²		(0.001	)		(0.007	)		(0.030	)

Net realized capital gains		(0.000	)²		—			—			—			—

Total distributions	$	(0.000	)²	$	(0.000	)²	$	(0.001	)	$	(0.007	)	$	(0.030	)

Net asset value, end of year	$	1.00		$	1.00		$	1.00		$	1.00		$	1.00

Total return		0.00	%		0.02	%		0.06	%		0.65	%		3.05	%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	740,078		$	730,284		$	666,488		$	695,380		$	723,520
Ratio of operating expenses to average net assets		0.21	%		0.21	%		0.22	%		0.25	%		0.21	%
Ratio of operating expenses after waiver/reimbursement to average net assets		0.17	%		0.17	%		0.22	%		—	%		—	%
Ratio of net investment income to average net assets		0.00	%³		0.01	%		0.06	%		0.65	%		3.06	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		Amount rounds to less than $0.001 per share.
³		Amount rounds to less than 0.01%.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Tax-Exempt Cash Portfolio
	For the Years Ended October 31,
	2012			2011			2010			2009			2008¹

Net asset value, beginning of year	$	1.00		$	1.00		$	1.00		$	1.00		$	1.00

Income from investment operations:
Net investment income		0.000	²		0.000²			0.000²			0.002			0.020
Net realized gain on investments		0.000			0.000			0.000			0.000			0.001

Total from investment operations		0.000			0.000			0.000			0.002			0.021

Distributions to shareholders from:
Net investment income		(0.000	)²		(0.000	)²		(0.000	)²		(0.002	)		(0.021	)

Net asset value, end of year	$	1.00		$	1.00		$	1.00		$	1.00		$	1.00

Total return		0.00	%		0.01	%		0.02	%		0.17	%		2.09	%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	679,426		$	585,561		$	550,883		$	616,119		$	1,137,156
Ratio of operating expenses to average net assets		0.22	%		0.21	%		0.22	%		0.25	%		0.19	%
Ratio of operating expenses after waiver/reimbursement to average net assets		0.14	%		0.17	%		0.21	%		0.24	%		—	%
Ratio of net investment income to average net assets		0.00	%³		0.01	%		0.02	%		0.20	%		2.03	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		Amount rounds to less than $0.001 per share.
³		Amount rounds to less than 0.01%.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Core Fixed Income Portfolio
	For the Year Ended October 31,
	2012			2011			2010¹			2009			2008

Net asset value, beginning of year	$	11.67		$	11.67		$	11.37		$	10.35		$	10.64

Income from investment operations:
Net investment income		0.30			0.38			0.39			0.40			0.50
Net realized and unrealized gain (loss) on investments		0.32			0.02	²		0.38			1.03			(0.29	)

Total from investment operations		0.62			0.40			0.77			1.43			0.21

Distributions to shareholders from:
Net investment income		(0.34	)		(0.40	)		(0.40	)		(0.41	)		(0.50	)
Net realized capital gains		(0.20	)		—			(0.07	)		—			—

Total distributions		(0.54	)		(0.40	)		(0.47	)		(0.41	)		(0.50	)

Net asset value, end of year	$	11.75		$	11.67		$	11.67		$	11.37		$	10.35

Total return		5.51	%		3.52	%		7.01	%		13.96	%		1.89	%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	480,499		$	361,341		$	396,884		$	353,513		$	237,944
Ratio of operating expenses to average net assets		0.57	%		0.57	%		0.57	%		0.57	%		0.56	%
Ratio of net investment income to average net assets		2.61	%		3.26	%		3.40	%		3.67	%		4.64	%
Portfolio turnover rate		22	%		68	%		31	%		55	%		71	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		The amount shown for a share outstanding does not correspond with the aggregate net realized and unrealized loss for the period due to the timing of purchases and redemptions of Fund shares in relation to the fluctuating net asset value per share of the Fund.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Strategic Equity Portfolio
	For the Year Ended October 31,
	2012			2011			2010			2009			2008

Net asset value, beginning of year	$	17.19		$	16.40		$	14.33		$	13.20		$	20.00

Income from investment operations:
Net investment income		0.18			0.13			0.10			0.11			0.10
Net realized and unrealized gain (loss) on investments		2.00			0.79			2.07			1.13			(6.71	)

Total from investment operations		2.18			0.92			2.17			1.24			(6.61	)

Distributions to shareholders from:
Net investment income		(0.17	)		(0.13	)		(0.10	)		(0.11	)		(0.10	)
Net realized capital gains		—			—			—			—			(0.09	)

Total distributions		(0.17	)		(0.13	)		(0.10	)		(0.11	)		(0.19	)

Net asset value, end of year	$	19.20		$	17.19		$	16.40		$	14.33		$	13.20

Total return		12.68	%		5.58	%		15.15	%		9.57	%		(33.32	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	170,580		$	153,893		$	157,227		$	132,739		$	97,704
Ratio of operating expenses to average net assets		0.87	%		0.88	%		0.88	%		0.88	%		0.86	%
Ratio of net investment income to average net assets		0.99	%		0.72	%		0.63	%		0.90	%		0.57	%
Portfolio turnover rate		37	%		51	%		44	%		53	%		91	%

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Small Cap Equity Portfolio Advisor Shares
	For the Year Ended October 31,
	2012			2011¹			2010¹			2009			2008¹

Net asset value, beginning of year	$	16.64		$	14.70		$	11.70		$	10.62		$	16.89

Income from investment operations:
Net investment income		0.08			—			0.01			0.05			0.05
Net realized and unrealized gain (loss) on investments		1.60			1.95			3.01			1.08			(6.28	)

Total from investment operations		1.68			1.95			3.02			1.13			(6.23	)

Distributions to shareholders from:
Net investment income		(0.08	)		(0.01	)		(0.02	)		(0.05	)		(0.04	)

Total distributions		(0.08	)		(0.01	)		(0.02	)		(0.05	)		(0.04	)

Net asset value, end of year	$	18.24		$	16.64		$	14.70		$	11.70		$	10.62

Total return		10.10	%²		13.24	%		25.78	%		10.81	%		(36.94	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	363,561		$	216,958		$	128,828		$	104,611		$	93,448
Ratio of operating expenses to average net assets		0.93	%		0.94	%		0.96	%		0.94	%		0.94	%
Ratio of net investment income to average net assets		0.47	%		0.01	%		0.04	%		0.50	%		0.35	%
Portfolio turnover rate³		49	%		78	%		81	%		89	%		72	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value of financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions as shown in the management discussion and analysis and as otherwise reported to shareholders.
³		Portfolio turnover is calculated at the fund level.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Small Cap Equity Portfolio Institutional Shares
	For the Year Ended October 31,
	2012¹			2011			2010¹			2009¹			2008

Net asset value, beginning of year	$	17.16		$	15.12		$	12.01		$	10.89		$	17.29

Income from investment operations:
Net investment income		0.13			0.05			0.03			0.07			0.08
Net realized and unrealized gain (loss) on investments		1.65			2.00			3.10			1.10			(6.42	)

Total from investment operations		1.78			2.05			3.13			1.17			(6.34	)

Distributions to shareholders from:
Net investment income		(0.08	)		(0.01	)		(0.02	)		(0.05	)		(0.06	)

Total distributions		(0.08	)		(0.01	)		(0.02	)		(0.05	)		(0.06	)

Net asset value, end of year	$	18.86		$	17.16		$	15.12		$	12.01		$	10.89

Total return		10.38	%		13.53	%		26.12	%		10.91	%		(36.77	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	14,305		$	249		$	1		$	1		$	1
Ratio of operating expenses to average net assets		0.73	%		0.74	%		0.76	%		0.74	%		0.74	%
Ratio of net investment income to average net assets		0.71	%		0.30	%		0.31	%		0.64	%		0.54	%
Portfolio turnover rate²		49	%		78	%		81	%		89	%		72	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		Portfolio turnover is calculated at the fund level.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Large Cap Value Portfolio
	For the Year Ended October 31,
	2012			2011			2010			2009			2008

Net asset value, beginning of year	$	9.46		$	9.33		$	7.88		$	7.00		$	10.89

Income from investment operations:
Net investment income		0.13			0.07			0.06			0.12			0.16
Net realized and unrealized gain (loss) on investments		1.08			0.13	¹		1.45			0.88			(3.89	)

Total from investment operations		1.21			0.20			1.51			1.00			(3.73	)

Distributions to shareholders from:
Net investment income		(0.11	)		(0.07	)		(0.06	)		(0.12	)		(0.16	)
Net realized capital gains		—			—			—			—			(0.00	)²

Total distributions		(0.11	)		(0.07	)		(0.06	)		(0.12	)		(0.16	)

Net asset value, end of year	$	10.56		$	9.46		$	9.33		$	7.88		$	7.00

Total return		12.86	%		2.10	%		19.14	%		14.65	%		(34.61	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	77,107		$	86,873		$	47,484		$	36,541		$	31,091
Ratio of operating expenses to average net assets		0.91	%		0.92	%		0.95	%		0.97	%		0.94	%
Ratio of net investment income to average net assets		1.26	%		0.70	%		0.64	%		1.75	%		1.64	%
Portfolio turnover rate		157	%		164	%		118	%		177	%		288	%


¹		The amount shown for a share outstanding does not correspond with the aggregate net realized and unrealized loss for the period due to the timing of purchases and redemptions of Fund shares in relation to the fluctuating net asset value per share of the Fund.
²		Amount rounds to less than $0.01 per share.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	U.S. Emerging Growth Portfolio
	For the Year Ended October 31,
	2012¹			2011¹			2010¹			2009¹			2008¹

Net asset value, beginning of year	$	6.78		$	6.04		$	4.71		$	4.53		$	7.34

Income from investment operations:
Net investment income (loss)		0.01			(0.02	)		0.00	²		0.01			0.00	²
Net realized and unrealized gain (loss) on investments		0.58			0.76			1.34			0.17			(2.80	)

Total from investment operations		0.59			0.74			1.34			0.18			(2.80	)

Distributions to shareholders from:
Net investment income		(0.01	)		—			(0.01	)		—			—
Tax return of capital		—			—			—			—			(0.01	)

Total distributions		(0.01	)		—			(0.01	)		—			(0.01	)

Net asset value, end of year	$	7.36		$	6.78		$	6.04		$	4.71		$	4.53

Total return		8.77	%		12.25	%		28.54	%		3.97	%		(38.16	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	27,385		$	18,671		$	17,643		$	19,554		$	22,903
Ratio of operating expenses to average net assets		1.00	%		0.98	%		1.00	%		1.00	%		0.95	%
Ratio of net investment income (loss) (expenses in excess of income) to average net assets		0.17	%		(0.22	)%		(0.06	)%		0.14	%		0.06	%
Portfolio turnover rate		120	%		157	%		109	%		117	%		129	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		Amount rounds to less than $0.01 per share.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Large Cap 100 Portfolio
	For the Year Ended October 31,
	2012			2011¹			2010¹			2009			2008

Net asset value, beginning of year	$	12.62		$	11.49		$	9.75		$	8.60		$	13.97

Income from investment operations:
Net investment income		0.17			0.11			0.09			0.11			0.12
Net realized and unrealized gain (loss) on investments		1.48			1.12			1.74			1.15			(5.38	)

Total from investment operations		1.65			1.23			1.83			1.26			(5.26	)

Distributions to shareholders from:
Net investment income		(0.17	)		(0.10	)		(0.09	)		(0.11	)		(0.11	)

Total distributions		(0.17	)		(0.10	)		(0.09	)		(0.11	)		(0.11	)

Net asset value, end of year	$	14.10		$	12.62		$	11.49		$	9.75		$	8.60

Total return		13.14	%		10.69	%		18.81	%		14.80	%		(37.89	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	115,204		$	91,070		$	86,428		$	91,794		$	87,534
Ratio of operating expenses to average net assets		0.88	%		0.88	%		0.89	%		0.88	%		0.86	%
Ratio of net investment income to average net assets		1.23	%		0.84	%		0.83	%		1.24	%		0.95	%
Portfolio turnover rate		104	%		103	%		103	%		124	%		111	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Large Cap Growth Portfolio
	For the Year Ended October 31,
	2012			2011			2010¹			2009¹			2008¹

Net asset value, beginning of year	$	13.73		$	12.31		$	9.80		$	8.57		$	14.17

Income from investment operations:
Net investment income		0.07			0.07			0.04			0.04			0.04
Net realized and unrealized gain (loss) on investments		1.08			1.42			2.51			1.24			(5.61	)

Total from investment operations		1.15			1.49			2.55			1.28			(5.57	)

Distributions to shareholders from:
Net investment income		(0.07	)		(0.07	)		(0.04	)		(0.05	)		(0.03	)

Total distributions		(0.07	)		(0.07	)		(0.04	)		(0.05	)		(0.03	)

Net asset value, end of year	$	14.81		$	13.73		$	12.31		$	9.80		$	8.57

Total return		8.44	%		12.13	%		26.11	%		14.99	%		(39.36	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	93,527		$	64,981		$	50,040		$	44,182		$	41,314
Ratio of operating expenses to average net assets		0.89	%		0.88	%		0.90	%		0.90	%		0.88	%
Ratio of net investment income to average net assets		0.52	%		0.56	%		0.38	%		0.50	%		0.29	%
Portfolio turnover rate		111	%		117	%		125	%		140	%		148	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Long/Short Portfolio
	For the Year Ended October 31,
	2012¹			2011¹			2010¹			2009¹			2008¹

Net asset value, beginning of year	$	8.90		$	8.45		$	8.15		$	8.25		$	9.55

Income from investment operations:
Net investment income (loss)		(0.08	)		(0.05	)		(0.04	)		(0.04	)		0.14
Net realized and unrealized gain (loss) on investments		0.47			0.50			0.34			(0.06	)		(1.28	)

Total from investment operations		0.39			0.45			0.30			(0.10	)		(1.14	)

Distributions to shareholders from:
Net investment income		—			—			—			—			(0.16	)

Total distributions		—			—			—			—			(0.16	)

Net asset value, end of year	$	9.29		$	8.90		$	8.45		$	8.15		$	8.25

Total return		4.38	%		5.33	%		3.68	%		(1.21	)%		(12.15	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	13,752		$	14,367		$	11,344		$	17,615		$	34,904
Ratio of operating expenses before waiver/reimbursement to average net assets		3.20	%		2.81	%		2.72	%		2.84	%		2.28	%
Ratio of operating expenses after waiver/reimbursement to average net assets		2.80	%		2.36	%		2.33	%		2.49	%		1.89	%
Ratio of operating expenses after waiver/reimbursement excluding dividends and interest on securities sold short and stock ticket expense on securities sold short		1.25	%		1.25	%		1.25	%		1.23	%		1.18	%
Ratio of net investment income (loss) (expenses in excess of income) to average net assets		(0.83	)%		(0.74	)%		(0.47	)%		(0.44	)%		1.54	%
Portfolio turnover rate		128	%²		137	%²		636	%		715	%		656	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		The calculation of the portfolio turnover rate for the fiscal years ended October 31, 2011 and 2012 reflects the absolute value of the long and short positions.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Total Market Portfolio
	For the Year Ended October 31,
	2012			2011¹			2010¹			2009¹			2008¹

Net asset value, beginning of year	$	9.01		$	8.36		$	7.02		$	6.54		$	10.42

Income from investment operations:
Net investment income		0.03			0.01			0.00	²		0.02			0.05
Net realized and unrealized gain (loss) on investments		0.68			0.65			1.35			0.49			(3.87	)

Total from investment operations		0.71			0.66			1.35			0.51			(3.82	)

Distributions to shareholders from:
Net investment income		(0.04	)		(0.01	)		(0.01	)		(0.02	)		(0.06	)
Tax return of capital		—			—			—			(0.01	)		—

Total distributions		(0.04	)		(0.01	)		(0.01	)		(0.03	)		(0.06	)

Net asset value, end of year	$	9.68		$	9.01		$	8.36		$	7.02		$	6.54

Total return		7.93	%		7.86	%		19.20	%		7.72	%		(36.83	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	44,619		$	41,069		$	34,451		$	20,679		$	27,331
Ratio of operating expenses before waiver/reimbursement to average net assets		2.48	%		2.19	%		2.12	%		2.32	%		2.30	%
Ratio of operating expenses after waiver/reimbursement to average net assets		2.09	%		1.84	%		1.77	%		1.96	%		1.92	%
Ratio of operating expenses after waiver/reimbursement excluding dividends and interest on securities sold short and stock ticket expense on securities sold short		1.25	%		1.21	%		1.23	%		1.25	%		1.20	%
Ratio of net investment income to average net assets		0.29	%		0.14	%		0.05	%		0.25	%		0.54	%
Portfolio turnover rate		135	%³		123	%³		200	%		185	%		201	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		Amount rounds to less than $0.01 per share.
³		The calculation of the portfolio turnover rate for the fiscal years ended October 31, 2011 and 2012 reflects the absolute value of the long and short positions.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Secured Options Portfolio
							For the
							Period
							June 30,
							2010²
							through
	For the Year Ended October 31,						October 31,
	2012			2011¹			2010¹

Net asset value, beginning of year	$	12.03		$	11.55		$	10.00

Income from investment operations:
Net investment loss		(0.10	)		(0.10	)		(0.03	)
Net realized and unrealized gain on investments		1.78			0.98			1.58

Total from investment operations		1.68			0.88			1.55

Distributions to shareholders from:
Net realized capital gains		(0.43	)		(0.40	)		—

Total distributions		(0.43	)		(0.40	)		—

Net asset value, end of year	$	13.28		$	12.03		$	11.55

Total return		14.34	%		7.74	%		15.50	%³

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	375,175		$	257,619		$	112,876
Ratio of operating expenses to average net assets		0.88	%		0.90	%		1.02	%⁴
Ratio of net expenses in excess of income to average net assets		(0.85	)%		(0.85	)%		(0.91	)%⁴
Portfolio turnover rate		1,130	%		1,010	%		247	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		Commencement of operations.
³		Total return calculation is not annualized.
⁴		Annualized.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each period


	International
	Secured
	Options
	Portfolio
	For the
	Period
	September 28,
	2012¹
	through
	October 31,
	2012²

Net asset value, beginning of year	$	10.00

Income from investment operations:
Net investment loss		(0.01	)
Net realized and unrealized gain on investments		0.16

Total from investment operations		0.15

Net asset value, end of period	$	10.15

Total return³		1.50	%

Ratios to average net assets/Supplemental data:
Net assets, end of period (in 000s)	$	21,115
Ratio of operating expenses before waiver/reimbursement to average net assets		3.68	%⁴
Ratio of operating expenses after waiver/reimbursement to average net assets		1.00	%⁴
Ratio of net expenses in excess of income to average net assets		(1.00	)%⁴
Portfolio turnover rate		0.00	%⁵


¹		Commencement of operations.
²		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
³		Total return calculation is not annualized.
⁴		Annualized.
⁵		Calculation represents portfolio turnover for the Fund for the period of September 28, 2012 through October 31, 2012.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	International Portfolio
	For the Year Ended October 31,
	2012¹			2011¹			2010¹			2009¹			2008

Net asset value, beginning of year	$	12.06		$	13.36		$	12.34		$	9.09		$	19.71

Income from investment operations:
Net investment income		0.29			0.32			0.30			0.25			0.53
Net realized and unrealized gain (loss) on investments		(0.15	)		(1.30	)		1.01			3.25			(10.42	)

Total from investment operations		0.14			(0.98	)		1.31			3.50			(9.89	)

Distributions to shareholders from:
Net investment income		(0.31	)		(0.32	)		(0.29	)		(0.25	)		(0.54	)
Net realized capital gains		—			—			—			—			(0.19	)
Tax return of capital		(0.01	)		—			—			—			—

Total distributions		(0.32	)		(0.32	)		(0.29	)		(0.25	)		(0.73	)

Net asset value, end of year	$	11.88		$	12.06		$	13.36		$	12.34		$	9.09

Total return		1.28	%		(7.56	)%		10.88	%		39.06	%		(51.69	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	156,046		$	271,428		$	388,843		$	392,845		$	355,145
Ratio of operating expenses to average net assets		1.14	%		1.13	%		1.13	%		1.13	%		1.11	%
Ratio of net investment income to average net assets		2.47	%		2.35	%		2.43	%		2.54	%		3.21	%
Portfolio turnover rate		45	%		40	%		36	%		63	%		49	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Philadelphia International Fund
	For the Year Ended October 31,
	2012¹			2011¹			2010¹			2009¹			2008

Net asset value, beginning of year	$	10.86		$	12.04		$	11.18		$	9.15		$	20.32

Income from investment operations:
Net investment income		0.25			0.31			0.29			0.22			0.64
Net realized and unrealized gain (loss) on investments		(0.04	)²		(1.18	)		0.84			2.85			(10.91	)

Total from investment operations		0.21			(0.87	)		1.13			3.07			(10.27	)

Distributions to shareholders from:
Net investment income		(0.32	)		(0.31	)		(0.27	)		(0.24	)		(0.61	)
Net realized capital gains		—			—			—			(0.80	)		(0.29	)
Tax return of capital		(0.00	)³		—			—			—			—

Total distributions		(0.32	)		(0.31	)		(0.27	)		(1.04	)		(0.90	)

Net asset value, end of year	$	10.75		$	10.86		$	12.04		$	11.18		$	9.15

Total return		2.03	%		(7.50	)%		10.48	%		36.81	%		(52.37	)%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	45,425		$	83,633		$	106,189		$	109,423		$	182,815
Ratio of operating expenses before waiver/reimbursement to average net assets		1.00	%		0.94	%		0.93	%		0.92	%		0.88	%
Ratio of operating expenses after waiver/reimbursement to average net assets		1.00	%⁴		0.94	%		0.93	%		0.92	%		0.88	%
Ratio of net investment income to average net assets		2.34	%		2.53	%		2.59	%		2.44	%		3.52	%
Portfolio turnover rate		53	%		51	%		40	%		55	%		40	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		The amount shown for a share outstanding does not correspond with the aggregate net realized and unrealized loss for the period due to the timing of purchases and redemptions of Fund shares in relation to the fluctuating net asset value per share of the Fund.
³		Amount rounds to less than $0.01 per share.
⁴		Amount of waiver/reimbursement rounds to less than 0.01% per share.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Philadelphia International Small Cap Fund Class IV
				For the
				Period
	For the			May 31,
	Year			2011²
	Ended			through
	October 31,			October 31,
	2012¹			2011¹

Net asset value, beginning of year	$	8.32		$	10.00

Income from investment operations:
Net investment income		0.27			0.11
Net realized and unrealized gain (loss) on investments		0.47			(1.65	)

Total from investment operations		0.74			(1.54	)

Distributions to shareholders from:
Net investment income		(0.21	)		(0.14	)

Total distributions		(0.21	)		(0.14	)

Purchase Premium		0.03			—
Net asset value, end of year	$	8.88		$	8.32

Total return⁴		9.41	%		(15.37	)%³

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	6,800		$	2,924
Ratio of operating expenses before waiver/reimbursement to average net assets		2.75	%		4.65	%⁵
Ratio of operating expenses after waiver/reimbursement to average net assets		1.10	%		1.10	%⁵
Ratio of net investment income to average net assets		3.21	%		2.90	%⁵
Portfolio turnover rate		85	%		28	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		Commencement of operations.
³		Total return calculation is not annualized.
⁴		Calculation excludes purchase premiums and redemption fees which are borne by the shareholder.
⁵		Annualized.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Philadelphia International Emerging Markets Fund Class IV
				For the
				Period
	For the			June 30,
	Year			2011²
	Ended			through
	October 31,			October 31,
	2012¹			2011¹

Net asset value, beginning of year	$	8.45		$	10.00

Income from investment operations:
Net investment income		0.15			0.09
Net realized and unrealized gain (loss) on investments		0.20			(1.72	)

Total from investment operations		0.35			(1.63	)

Distributions to shareholders from:
Net investment income		(0.24	)		—

Total distributions		(0.24	)		—

Purchase Premium		0.18			0.08
Net asset value, end of year	$	8.74		$	8.45

Total return³		6.41	%⁴		(15.50	)%⁵

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	41,272		$	2,151
Ratio of operating expenses before waiver/reimbursement to average net assets		1.92	%		8.12	%⁶
Ratio of operating expenses after waiver/reimbursement to average net assets		1.25	%		1.25	%⁶
Ratio of net investment income to average net assets		1.71	%		2.98	%⁶
Portfolio turnover rate		86	%		19	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		Commencement of operations.
³		Calculation excludes purchase premiums and redemption fees which are borne by the shareholder.
⁴		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions as shown in the management discussion and analysis and as otherwise reported to shareholders.
⁵		Total return calculation is not annualized.
⁶		Annualized.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Government Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Face
Amount			Value


*AGENCY NOTES — 56.3%**

		Federal Farm Credit Bank — 17.7%
$	10,000,000	0.180% due 1/2/13	$	9,999,770
	15,000,000	0.237% due 2/20/13¹		14,998,164
	15,000,000	0.237% due 2/21/13¹		15,000,000
	15,000,000	0.227% due 4/16/13¹		14,999,661
	10,000,000	0.201% due 4/30/13¹		10,001,845
	5,000,000	0.300% due 5/3/13¹		5,002,812
	10,000,000	0.180% due 6/4/13¹		9,999,411
	10,000,000	0.190% due 6/20/13¹		9,999,367
	10,000,000	0.600% due 6/21/13¹		10,026,405
	10,000,000	0.200% due 7/2/13¹		10,000,000
	5,000,000	0.300% due 7/29/13¹		5,003,754
	5,000,000	0.350% due 8/26/13¹		5,006,204
	11,000,000	0.317% due 9/23/13¹		11,007,847

				131,045,240


		Federal Home Loan Bank — 27.7%
	25,000,000	0.180% due 11/21/12		24,999,742
	10,300,000	1.625% due 11/21/12²		10,308,380
	10,000,000	0.180% due 12/27/12		9,999,570
	10,000,000	0.180% due 12/28/12		9,999,561
	6,600,000	0.200% due 1/18/13		6,599,941
	4,700,000	0.150% due 2/6/13		4,699,151
	7,275,000	1.000% due 3/27/13		7,296,976
	3,200,000	0.230% due 4/17/13		3,199,952
	20,000,000	0.210% due 4/26/13¹		20,000,499
	10,000,000	0.200% due 5/2/13		9,997,373
	10,000,000	0.220% due 5/15/13¹		9,999,458
	10,000,000	0.340% due 5/21/13		10,007,529
	2,000,000	0.300% due 6/5/13		2,000,136
	5,000,000	0.250% due 6/7/13		5,000,000
	2,960,000	3.875% due 6/14/13		3,025,696
	20,000,000	0.200% due 7/12/13¹		19,998,592
	5,000,000	0.125% due 7/25/13		4,996,437
	9,500,000	1.000% due 7/29/13		9,550,987
	5,000,000	0.280% due 8/2/13		5,001,370
	8,000,000	0.280% due 8/13/13		8,003,371
	8,000,000	0.270% due 8/16/13		8,002,310
	7,800,000	3.625% due 10/18/13		8,054,792
	4,000,000	0.300% due 11/22/13		4,002,797

				204,744,620

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Government Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*AGENCY NOTES — (Continued)**

		Federal Home Loan Mortgage Corporation — 5.5%
$	10,000,000	0.360% due 1/10/13¹	$	10,003,085
	5,000,000	1.720% due 4/11/13		5,032,933
	15,000,000	4.125% due 9/27/13		15,525,978
	5,000,000	0.375% due 10/15/13		5,006,748
	5,000,000	0.375% due 11/27/13		5,007,740

				40,576,484


		Federal National Mortgage Association — 5.4%
	4,628,000	4.750% due 11/19/12		4,638,388
	16,705,000	0.370% due 12/3/12¹		16,707,308
	3,305,000	1.000% due 12/27/12		3,309,068
	3,615,000	0.400% due 2/1/13¹		3,616,749
	2,000,000	0.380% due 8/9/13¹		2,002,808
	10,000,000	1.000% due 9/23/13		10,070,229

				40,344,550


		TOTAL AGENCY NOTES (Amortized Cost $416,710,894)		416,710,894


*GOVERNMENT GUARANTEED CORPORATE NOTES^,3 — 0.7%**
	5,288,000	General Electric Capital Corp.,
		2.125% due 12/21/12		5,301,922

				5,301,922

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Government Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount					Value

*REPURCHASE AGREEMENTS — 42.9%**
$	27,713,491	With Bank of America, dated 10/31/12, 0.230%, principal and interest in the amount of $27,713,668, due 11/1/12, (collateralized by a U.S. Treasury Note with a par value of $26,741,500, coupon rate of 1.880%, due 9/30/17, market value of $28,267,637)			$	27,713,491
	120,000,000	With RBS Greenwich, Inc., dated 10/31/12, 0.230%, principal and interest in the amount of $120,000,767, due 11/1/12, (collateralized by a U.S. Treasury Note with a par value of $96,228,000, coupon rate of 11.250%, due 2/15/15, market value of $122,450,130)				120,000,000
	170,000,000	With UBS AG, dated 10/31/12, 0.280%, principal and interest in the amount of $170,001,322, due 11/1/12, (collateralized by U.S. Treasury Notes with a par value of $164,266,700, coupon rates of 2.380 — 2.500%, due 3/31/15-5/31/18, market value of $173,400,374)				170,000,000


		TOTAL REPURCHASE AGREEMENTS (Amortized Cost $317,713,491)				317,713,491



Shares


*INVESTMENT OF SECURITY LENDING COLLATERAL — 0.6%**
	4,115,000	State Street Navigator Securities Lending Prime Portfolio				4,115,000


		TOTAL INVESTMENT OF SECURITY LENDING COLLATERAL (Amortized Cost $4,115,000)				4,115,000

TOTAL INVESTMENTS (Amortized Cost $743,841,307)⁴			100.5	%	$	743,841,307
LIABILITIES IN EXCESS OF OTHER ASSETS			(0.5	)		(3,762,928	)

NET ASSETS			100.0	%	$	740,078,379


*		Percentages indicated are based on net assets.
¹		Floating Rate Bond. Rate shown is as of October 31, 2012.
²		Securities or partial securities on loan. See Note 1.
³		Government Guaranteed Corporate Notes are issued through the FDIC sponsored, Temporary Liquidity Government Guarantee Program.
⁴		Aggregate cost for federal tax purposes was $743,841,307.

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Government Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

AGENCY DIVERSIFICATION

On October 31, 2012, agency diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

AGENCIES:
Federal Home Loan Bank		27.7	%	$	204,744,620
Federal Farm Credit Bank		17.7			131,045,240
Federal Home Loan Mortgage Corporation		5.5			40,576,484
Federal National Mortgage Association		5.4			40,344,550
Government Guaranteed Corporate		0.7			5,301,922

TOTAL		57.0	%	$	422,012,816
REPURCHASE AGREEMENTS		42.9			317,713,491
INVESTMENTS OF SECURITY LENDING COLLATERAL		0.6			4,115,000

TOTAL INVESTMENTS		100.5	%	$	743,841,307

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Face
Amount			Value


*VARIABLE/FLOATING RATE NOTES^,1 — 97.0%**

		Daily Variable/Floating Rate Notes — 47.6%
$	7,300,000	California Pollution Control Financing Authority, Pollution Control Revenue, Refunding, ExxonMobil Corp. Project,
		0.15% due 4/1/17	$	7,300,000
	5,800,000	California State Infrastructure & Economic Development Bank Revenue, J Paul Getty Trust, Series A-2,
		0.17% due 10/1/47		5,800,000
	11,200,000	California State Pollution Control Financing Authority, Pollution Control Revenue, Chevron USA Inc. Project,
		0.22% due 6/1/25		11,200,000
	9,520,000	Charlotte Mecklenburg Hospital Authority, Health Care System Revenue, Carolinas Healthcare, Series C, (LOC: U.S. Bank N.A.),
		0.22% due 1/15/26		9,520,000
	9,140,000	Charlotte Mecklenburg Hospital Authority, Health Care System Revenue, Carolinas Healthcare, Series D (LOC: U.S. Bank N.A.),
		0.22% due 1/15/26		9,140,000
	4,000,000	Connecticut State Health & Educational Facilities Authority Revenue, Yale University, Series V-2,
		0.18% due 7/1/36		4,000,000
	4,150,000	Connecticut State Health & Educational Facilities Authority Revenue, Yale University, Series Y-3,
		0.18% due 7/1/35		4,150,000
	7,800,000	Cuyahoga County, Ohio, Cleveland Clinic Revenue, Subseries B-3 (SPA: U.S. Bank N.A.),
		0.23% due 1/1/39		7,800,000
	16,830,000	Delaware County, Pennsylvania, Industrial Development Authority, Airport Facilities Revenue, United Parcel Service Project, DATES,
		0.23% due 12/1/15		16,830,000
	6,800,000	East Baton Rouge Parish, Louisiana, Industrial Development Board Revenue, ExxonMobil Corp. Project,
		0.22% due 12/1/51		6,800,000
		East Baton Rouge Parish, Louisiana, Pollution Control Revenue, ExxonMobil Corp. Project:
	300,000	0.200% due 11/1/19		300,000
	800,000	0.220% due 3/1/22		800,000
	1,300,000	Geisinger Authority, Pennsylvania, Health System Revenue, Geisinger Health System, Series A, (SPA: Wells Fargo Bank N.A.),
		0.16% due 5/15/35		1,300,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*VARIABLE/FLOATING RATE NOTES^,1 — (Continued)**
		Daily Variable/Floating Rate Notes — (Continued)

		Gulf Coast Waste Disposal Authority, Texas, Pollution Control Revenue, Refunding, ExxonMobil Corp. Project:
$	4,400,000	0.220% due 6/1/20	$	4,400,000
	3,050,000	0.220% due 10/1/24		3,050,000
	7,600,000	Harris County, Texas, Industrial Development Corp., Pollution Control Revenue, ExxonMobil Corp. Project,
		0.22% due 3/1/24		7,600,000
	17,710,000	Houston, Texas, Higher Education Finance Corp., Higher Educational Revenue, Rice University Project, Series A,
		0.24% due 5/15/48		17,710,000
	8,250,000	Houston, Texas, Higher Education Finance Corp., Higher Educational Revenue, Rice University Project, Series B,
		0.21% due 5/15/48		8,250,000
	13,200,000	Jackson County, Mississippi, Pollution Control Revenue, Refunding, Chevron USA Inc. Project,
		0.23% due 12/1/16		13,200,000
	8,735,000	Jackson County, Mississippi, Port Facilities Revenue, Chevron USA Inc. Project,
		0.21% due 6/1/23		8,735,000
	6,240,000	Joliet, Illinois, Regional Port District, Marine Terminal Revenue, ExxonMobil Corp. Project,
		0.22% due 10/1/24		6,240,000
	3,200,000	Lincoln County, Wyoming, Pollution Control Revenue, ExxonMobil Corp. Project,
		0.20% due 8/1/15		3,200,000
	2,500,000	Lincoln County, Wyoming, Pollution Control Revenue, ExxonMobil Corp. Project, Series A, DATES,
		0.22% due 11/1/14		2,500,000
	2,025,000	Massachusetts Health and Educational Facilities Authority Revenue, Wellesley College, Series G,
		0.21% due 7/1/39		2,025,000
	1,700,000	Massachusetts Health and Educational Facilities Authority Revenue, Wellesley College, Series I,
		0.21% due 7/1/39		1,700,000
	7,650,000	Massachusetts State Health & Educational Facilities Authority Revenue, Amherst College Project, Series J-2,
		0.24% due 11/1/35		7,650,000
	1,350,000	Massachusetts State Health & Educational Facilities Authority Revenue, Harvard University, Series R,
		0.18% due 11/1/49		1,350,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*VARIABLE/FLOATING RATE NOTES^,1 — (Continued)**
		Daily Variable/Floating Rate Notes — (Continued)

$	8,000,000	Massachusetts State Health & Educational Facilities Authority Revenue, Tufts University, Series N-1, (SPA: U.S. Bank N.A.),
		0.23% due 8/15/40	$	8,000,000
	8,400,000	Mississippi Business Finance Corp, Mississippi Gulf Opportunity Zone, Chevron USA Inc. Project, Series A,
		0.23% due 12/1/30		8,400,000
	1,565,000	Mississippi Business Finance Corp, Mississippi Gulf Opportunity Zone, Chevron USA Inc. Project, Series C,
		0.21% due 12/1/30		1,565,000
	10,800,000	Mississippi Business Finance Corp, Mississippi Gulf Opportunity Zone, Chevron USA Inc. Project, Series F,
		0.23% due 11/1/35		10,800,000
	4,200,000	Missouri State Health & Educational Facilities Authority, BJC Health System, Revenue Bonds, Series B, (SPA: U.S. Bank),
		0.23% due 5/15/34		4,200,000
	1,400,000	Missouri State Health & Educational Facilities Authority, Educational Facilities Revenue, St. Louis University, Series A-1, (LOC: Wells Fargo Bank N.A.),
		0.23% due 10/1/35		1,400,000
	4,100,000	Missouri State Health & Educational Facilities Authority, Educational Facilities Revenue, Washington University, Series C, (SPA: U.S. Bank N.A.),
		0.21% due 3/1/40		4,100,000
	2,150,000	Mobile County, Alabama, Industrial Development Authority, Pollution Control Revenue, ExxonMobil Project,
		0.23% due 7/15/32		2,150,000
	5,200,000	New Hampshire Health & Education Facilities Authority Revenue, Dartmouth College, Series A, (SPA: J.P. Morgan Chase),
		0.22% due 6/1/31		5,200,000
	9,180,000	New Hampshire Health & Education Facilities Authority Revenue, Dartmouth College, Series B, (SPA: J.P. Morgan Chase),
		0.25% due 6/1/41		9,180,000
	6,200,000	New York City, New York, City Transitional Finance Authority Revenue, NYC Recovery, Series 1, Subseries 1D, (SPA: Landesbank Hessen-Thuerigen),
		0.24% due 11/1/22		6,200,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*VARIABLE/FLOATING RATE NOTES^,1 — (Continued)**
		Daily Variable/Floating Rate Notes — (Continued)

$	1,050,000	New York City, New York, City Transitional Finance Authority Revenue, NYC Recovery, Series 3, Subseries 3-E, (SPA: Landesbank Baden-Wurttemberg),
		0.25% due 11/1/22	$	1,050,000
	2,550,000	New York City, New York, City Transitional Finance Authority Revenue, NYC Recovery, Series 3, Subseries 3-F, (SPA: Royal Bank of Canada),
		0.22% due 11/1/22		2,550,000
		New York City, New York, General Obligation Unlimited, Subseries A-10, (LOC: J.P. Morgan Chase):
	1,700,000	0.260% due 8/1/16		1,700,000
	1,600,000	0.260% due 8/1/17		1,600,000
	2,885,000	New York City, New York, General Obligation Unlimited, Subseries A-8, (LOC: J.P. Morgan Chase),
		0.20% due 8/1/18		2,885,000
		New York City, New York, General Obligation Unlimited, Subseries B-2, (LOC: J.P. Morgan Chase):
	200,000	0.260% due 8/15/18		200,000
	2,200,000	0.260% due 8/15/20		2,200,000
	1,900,000	0.260% due 8/15/21		1,900,000
	10,000,000	New York City, New York, Municipal Water Finance Authority, Water & Sewer System Revenue, Second General Resolution, CC-1, (SPA: Bank of Nova Scotia),
		0.25% due 6/15/38		10,000,000
	3,800,000	Philadelphia, Pennsylvania, Hospitals & Higher Education Facilities Authority Revenue, Childrens Hospital Project, Series B, (SPA: J.P. Morgan Chase),
		0.23% due 7/1/25		3,800,000
	2,073,000	Texas Water Development Board Revenue, Series A, (SPA: J.P. Morgan Chase),
		0.26% due 7/15/19		2,073,000
	1,600,000	Uinta County, Wyoming, Pollution Control Revenue, Chevron USA Inc. Project,
		0.21% due 8/15/20		1,600,000
	20,015,000	University of California Regents Medical Center, Pooled Revenue, Series B-2, (SPA: Wells Fargo Bank N.A.),
		0.24% due 5/15/32		20,015,000
	18,525,000	University of Michigan, University Revenue, Series A, (SPA: Wells Fargo Bank N.A.),
		0.23% due 4/1/38		18,525,000
	6,925,000	University of North Carolina Hospital, Chapel Hill Revenue, Series A, (SPA: Landesbank Hessen-Thuerigen),
		0.24% due 2/15/31		6,925,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*VARIABLE/FLOATING RATE NOTES^,1 — (Continued)**
		Daily Variable/Floating Rate Notes — (Continued)

$	8,300,000	Valdez, Alaska, Marine Terminal Revenue, ExxonMobil Corp. Project,
		0.22% due 12/1/29	$	8,300,000
	1,400,000	Valdez, Alaska, Marine Terminal Revenue, ExxonMobil Pipeline Co. Project,
		0.22% due 10/1/25		1,400,000
	1,720,000	Virginia College Building Authority, Virginia, Educational Facilities Revenue, 21st Century College, Series C, (SPA: Wells Fargo Bank N.A.),
		0.23% due 2/1/26		1,720,000
	920,000	Wisconsin State Health & Educational Facilities Authority Revenue, Goodwill Industries of North Central Wisconsin, (LOC: Wells Fargo Bank N.A.),
		0.21% due 11/1/25		920,000

		Total Daily Variable/Floating Rate Notes (Amortized Cost $323,108,000)		323,108,000


		Weekly Variable/Floating Rate Notes — 49.4%
	14,000,000	Alaska State International Airports Revenue, Series A, (LOC: State Street Bank & Trust Co.),
		0.22% due 10/1/30		14,000,000
	2,025,000	Baltimore, Maryland, Industrial Development Authority, Baltimore Capital Acquisition, (LOC: Bayerische Landesbank),
		0.30% due 8/1/16		2,025,000
	15,000,000	California State General Obligation Unlimited, Series B, (LOC: Barclays Bank PLC),
		0.20% due 5/1/40		15,000,000
	900,000	Colorado Educational & Cultural Facility Authority Revenue, Boulder Country Day School, (LOC: Wells Fargo Bank N.A.),
		0.31% due 9/1/24		900,000
	700,000	Colorado Educational & Cultural Facility Authority Revenue, Regis Jesuit High School Project, (LOC: Wells Fargo Bank N.A.),
		0.21% due 12/1/33		700,000
	3,493,000	Colorado Educational and Cultural Facilities Authority Revenue, Nature Conservancy Project A,
		0.22% due 7/1/27		3,493,000
	7,080,000	Colorado Housing and Finance Authority, Revenue Bonds, Class I, (SPA: FHLB),
		0.18% due 4/1/20		7,080,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*VARIABLE/FLOATING RATE NOTES^,1 — (Continued)**
		Weekly Variable/Floating Rate Notes — (Continued)

$	1,755,000	Connecticut State General Obligations, Series B, (SPA: Bayerische Landesbank),
		0.22% due 5/15/14	$	1,755,000
	12,000,000	Connecticut State Health & Educational Facility Authority Revenue, Yale University, Series U2,
		0.18% due 7/1/33		12,000,000
	2,190,000	Durham, North Carolina, Water & Sewer Utility System Revenue, (SPA: Wells Fargo Bank N.A.),
		0.19% due 12/1/15		2,190,000
	750,000	Englewood, Colorado, Multi-Family Housing Revenue, Refunding, Marks East Apartments, (FHLMC Insured),
		0.23% due 12/1/34		750,000
	5,500,000	Englewood, Colorado, Multi-Family Housing Revenue, Refunding, Marks West Apartments, (FHLMC Insured),
		0.23% due 12/1/26		5,500,000
	1,190,000	Franklin County, Ohio, Hospital Revenue, US Health Corp. Project, Series B, (LOC: U.S. Bank N.A.),
		0.21% due 12/1/20		1,190,000
	8,915,000	Guilford County, North Carolina, General Obligations Unlimited, Series B, (SPA: Branch Banking & Trust),
		0.19% due 4/1/27		8,915,000
	9,205,000	JEA, Florida, Electric System Revenue, Series 3-A, (SPA: Royal Bank of Canada),
		0.20% due 10/1/36		9,205,000
	6,805,000	Kansas State Department of Transportation, Highway Revenue, Series C-1, (SPA: J.P. Morgan Chase),
		0.21% due 9/1/19		6,805,000
	609,000	Kern Water Bank Authority California Revenue, Series A, (LOC: Wells Fargo Bank N.A.),
		0.18% due 7/1/28		609,000
	6,160,000	Los Angeles, California, Community Redevelopment Agency, Multi-Family Housing Revenue, MET Apartments, (FNMA Insured),
		0.20% due 12/15/24		6,160,000
	3,000,000	Loudoun County Industrial Development Authority Revenue, Howard Hughes Medical Institute, Series A,
		0.18% due 2/15/38		3,000,000
	2,000,000	Loudoun County Industrial Development Authority Revenue, Howard Hughes Medical Institute, Series B,
		0.18% due 2/15/38		2,000,000
	10,000,000	Loudoun County Industrial Development Authority Revenue, Howard Hughes Medical Institute, Series B,
		0.21% due 10/1/39		10,000,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*VARIABLE/FLOATING RATE NOTES^,1 — (Continued)**
		Weekly Variable/Floating Rate Notes — (Continued)

$	1,930,000	Loudoun County Industrial Development Authority Revenue, Howard Hughes Medical Institute, Series C,
		0.21% due 2/15/38	$	1,930,000
	4,200,000	Maryland State Health & Higher Educational Facilities Authority Revenue, John Hopkins University, Series B,
		0.20% due 7/1/27		4,200,000
	4,000,000	Massachusetts State Health & Educational Facilities Authority Revenue, Amherst College Project, Series F,
		0.22% due 11/1/26		4,000,000
	3,795,000	Massachusetts State Health & Educational Facilities Authority Revenue, Amherst College Project, Series I,
		0.22% due 11/1/28		3,795,000
	2,610,000	Massachusetts State Health & Educational Facilities Authority Revenue, Boston University Project, Series H, (LOC: State Street Bank & Trust Co.),
		0.20% due 12/1/29		2,610,000
	6,500,000	Massachusetts State Water Resource Authority, General Obligations, Series B, (LOC: Landesbank Hessen-Thuerigen),
		0.21% due 8/1/28		6,500,000
	7,800,000	Mecklenburg County, North Carolina, Certificate of Participation, (SPA: Branch Banking & Trust),
		0.21% due 2/1/26		7,800,000
	2,490,000	Minneapolis, Minnesota, Multi-Family Housing Revenue, St. Hedwings Assisted Project, (LOC: Wells Fargo Bank N.A.),
		0.31% due 12/1/27		2,490,000
	5,000,000	New Hampshire Health & Education Facilities Authority Revenue, Dartmouth College, (SPA: J.P. Morgan Chase),
		0.18% due 6/1/32		5,000,000
	2,800,000	New Jersey State Educational Facilities Authority Revenue, Refunding, Institute For Advanced Study, Series B, (SPA: Wells Fargo Bank N.A.),
		0.18% due 7/1/31		2,800,000
	6,200,000	New York City, New York, City Housing Development Corp., Multi-Family Rental Housing Revenue, 90 Washington Street, Series A, (FNMA Insured),
		0.21% due 2/15/35		6,200,000
	5,100,000	New York City, New York, City Housing Development Corp., Multi-Family Rental Housing Revenue, Carnegie Park, Series A, (FNMA Insured),
		0.20% due 11/15/19		5,100,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*VARIABLE/FLOATING RATE NOTES^,1 — (Continued)**
		Weekly Variable/Floating Rate Notes — (Continued)

$	7,600,000	New York City, New York, City Transitional Finance Authority Revenue, Future Tax, Series A-1, (SPA: Westdeutsche Landesbank),
		0.21% due 11/15/28	$	7,600,000
	4,000,000	New York State Dormitory Authority Revenue, Columbia, Series B,
		0.15% due 7/1/28		4,000,000
	6,300,000	New York State Housing Finance Agency Revenue, North End, Series A, (FNMA Insured),
		0.20% due 11/15/36		6,300,000
	3,000,000	North Carolina Educational Facilities Finance Agency Revenue, Duke University Project, Series A,
		0.18% due 12/1/17		3,000,000
	8,900,000	North Carolina Educational Facilities Finance Agency Revenue, Duke University Project, Series A,
		0.18% due 6/1/27		8,900,000
	4,380,000	North Carolina Educational Facilities Finance Agency Revenue, Duke University Project, Series B,
		0.18% due 12/1/21		4,380,000
	1,935,000	North Carolina Medical Care Commission, Health Systems Revenue, Catholic Health East, (LOC: JP Morgan Chase),
		0.22% due 11/15/28		1,935,000
	7,000,000	Ohio State University General Receipts,
		0.22% due 12/1/21		7,000,000
	9,600,000	Ohio State University, Series B,
		0.19% due 12/1/29		9,600,000
	3,500,000	Ohio State University, Series E,
		0.19% due 6/1/35		3,500,000
	4,300,000	Ohio State, General Obligation Unlimited, Series C,
		0.19% due 6/15/26		4,300,000
	10,100,000	Pennsylvania State University, Revenue Bonds, Series A, (G.O. of University), (SPA: J.P. Morgan Chase),
		0.25% due 3/1/32		10,100,000
	5,000,000	Private Colleges & Universities Authority Georgia Revenue, Emory University, Series B-3,
		0.18% due 9/1/35		5,000,000
	6,250,000	Private Colleges & Universities Authority Georgia Revenue, Emory University, Series C-1,
		0.20% due 9/1/36		6,250,000
	1,800,000	Private Colleges & Universities Authority Georgia Revenue, Emory University, Series C-5,
		0.20% due 9/1/36		1,800,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*VARIABLE/FLOATING RATE NOTES^,1 — (Continued)**
		Weekly Variable/Floating Rate Notes — (Continued)

$	11,750,000	Purdue University, Indiana, Certificate of Participation, Series A,
		0.20% due 7/1/35	$	11,750,000
	6,275,000	Purdue University, Indiana, University Revenues, Student Facilities System, Series A,
		0.16% due 7/1/33		6,275,000
	185,000	Purdue University, Indiana, University Revenues, Student Facilities System, Series C,
		0.20% due 7/1/32		185,000
	4,800,000	Rhode Island Health & Educational Building Corp. Revenue, Higher Education Facilities Brown, Series A,
		0.20% due 5/1/35		4,800,000
	419,000	Roseville, Minnesota, Commercial Development Revenue, Berger Transfers & Storage, Series F, (LOC: Wells Fargo Bank N.A.),
		0.31% due 12/1/15		419,000
	12,760,000	South Dakota Housing Development Authority Revenue, Home Ownership Meeting, Series C-2, (SPA: Landesbank Hessen-Thuerigen),
		0.26% due 5/1/32		12,760,000
	6,675,000	South Dakota Housing Development Authority, Revenue Bonds, Homeownership, Series D, (SPA: Landesbank Hessen-Thuerigen),
		0.26% due 11/1/31		6,675,000
	3,350,000	University of North Carolina, Revenue Bonds, Series B,
		0.18% due 12/1/25		3,350,000
	7,030,000	University of North Carolina, Revenue Bonds, Series C,
		0.19% due 12/1/25		7,030,000
		University of Texas, University Revenue, Financing System, Series B:
	6,140,000	0.170% due 8/1/16		6,140,000
	3,470,000	0.200% due 8/1/33		3,470,000
	6,500,000	0.170% due 8/1/39		6,500,000
	700,000	University of Texas, University Revenue, Refunding, Financing System, Series A,
		0.16% due 8/15/13		700,000

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

Face

Amount

Value

VARIABLE/FLOATING RATE NOTES*^,1 — (Continued)

Weekly Variable/Floating Rate Notes — (Continued)

9,460,000

Washington State, Housing Finance Commission, Single Family Program, (SPA: State Street Bank & Trust Co.),

0.22% due 6/1/48

9,460,000

6,955,000

Westminster, Colorado, Multi-Family Housing Revenue, Refunding, Warwick Station Apartments, (FHLMC Insured),

0.23% due 12/1/23

6,955,000

Total Weekly Variable/Floating Rate Notes
(Amortized Cost $335,836,000)

335,836,000

TOTAL VARIABLE/FLOATING RATE NOTES
(Amortized Cost $658,944,000)

658,944,000

FIXED RATE NOTES* — 3.0%

5,000,000

Colorado State General Fund, Revenue TRANS, Series A,

2.00% due 6/27/13

5,059,155

15,000,000

Texas State, TRANS,

2.50% due 8/30/13

15,282,225

TOTAL FIXED RATE NOTES
(Amortized Cost $20,341,380)

20,341,380

TOTAL INVESTMENTS
(Amortized Cost $679,285,380)²

100.0

679,285,380

OTHER ASSETS IN EXCESS OF LIABILITIES

0.0

140,866

NET ASSETS

100.0

679,426,246


*		Percentages indicated are based on net assets.
¹		Demand Security; payable upon demand by the Fund with usually no more than thirty (30) calendar day’s notice. The coupon rate shown on floating or adjustable rate securities represents the rate at period end. The due dates on these types of securities reflect the final maturity date.
²		Aggregate cost for federal tax purposes was $679,285,380.
Abbreviations:
DATES — Daily Adjustable Tax-Exempt Securities
FHLB — Federal Home Loan Bank
FHLMC — Federal Home Loan Mortgage Corporation
FNMA — Federal National Mortgage Association
LOC — Letter of Credit
SPA — Stand-By Purchase Agreement

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Tax-Exempt Cash Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

COUPON TYPE

On October 31, 2012, coupon type of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

COUPON TYPE:
Variable/Floating Rate Notes		97.0	%	$	658,944,000
Fixed Rate Notes		3.0			20,341,380

TOTAL INVESTMENTS		100.0	%	$	679,285,380

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Core Fixed Income Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Face
Amount			Value


*AGENCY NOTES — 5.9%**

		Federal Home Loan Mortgage Corporation — 4.7%
$	12,000,000	5.000% due 7/15/14	$	12,955,224
	8,135,000	5.125% due 10/18/16		9,567,012

				22,522,236


		Federal National Mortgage Association — 1.2%
	5,000,000	5.000% due 5/11/17		5,939,365

				5,939,365


		TOTAL AGENCY NOTES (Cost $27,912,587)		28,461,601


*MORTGAGE-BACKED SECURITIES^,1 — 45.8%**

		Federal Home Loan Mortgage Corporation — 11.3%
	1,324	# G00807, 9.500% due 3/1/21		1,349
	948,632	# G12342, 5.500% due 8/1/21		1,034,061
	224,035	# J03604, 5.500% due 10/1/21		242,810
	125,623	# J03649, 5.500% due 10/1/21		136,151
	347,540	# J03536, 5.500% due 11/1/21		374,710
	386,131	# G12442, 6.000% due 11/1/21		424,537
	274,683	# G18163, 5.500% due 1/1/22		297,703
	1,119,585	# G13396, 5.500% due 12/1/23		1,213,411
	68,816	# D78677, 8.000% due 3/1/27		72,930
	45,525	# D84894, 8.000% due 12/1/27		46,768
	503,506	# C00742, 6.500% due 4/1/29		589,541
	315,426	# A57845, 7.000% due 2/1/37		363,661
	519,687	# A68937, 6.000% due 11/1/37		572,019
	302,490	# A68332, 5.500% due 11/1/37		329,178
	1,247,628	# A70446, 5.000% due 12/1/37		1,350,775
	3,285,664	# A69653, 5.500% due 12/1/37		3,575,545
	2,555,601	# A73370, 5.000% due 2/1/38		2,766,884
	2,090,587	# A90421, 4.500% due 12/1/39		2,240,464
	2,405,997	# A92890, 4.500% due 7/1/40		2,585,253
	7,500,742	# A97620, 4.500% due 3/1/41		8,085,358
	8,380,896	# Q06558, 3.500% due 2/1/42		8,922,497
	6,496,487	# C03770, 3.500% due 2/1/42		6,912,251
	3,993,385	# Q07651, 3.500% due 4/1/42		4,263,306
	7,554,992	# C03860, 3.500% due 4/1/42		8,043,220

				54,444,382

��
		Federal National Mortgage Association — 31.9%
	13,443	# 535729, 6.500% due 2/1/16		14,234
	18,542	# 535962, 6.500% due 5/1/16		19,874
	7,294	# 595134, 6.500% due 7/1/16		7,818

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Core Fixed Income Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MORTGAGE-BACKED SECURITIES^,1 — (Continued)**
		Federal National Mortgage Association — (Continued)

$	38,359	# 596498, 6.000% due 7/1/16	$	40,835
	10,041	# 608777, 6.500% due 10/1/16		10,763
	145,520	# 625990, 5.500% due 12/1/16		157,124
	8,845	# 643340, 6.500% due 3/1/17		9,641
	39,422	# 555016, 6.500% due 10/1/17		42,256
	314,553	# 686230, 5.500% due 2/1/18		342,389
	366,335	# 254685, 5.000% due 4/1/18		394,759
	468,030	# 740449, 5.500% due 9/1/18		508,423
	205,978	# 768557, 5.500% due 2/1/19		224,205
	146,337	# 255159, 5.500% due 3/1/19		159,287
	2,470	# 313796, 9.500% due 2/1/21		2,808
	3,272	# 125275, 7.000% due 3/1/24		3,839
	25,148	# 313795, 9.500% due 1/1/25		28,802
	4,329,402	# AH6827, 4.000% due 3/1/26		4,627,377
	2,991,433	# AI1657, 4.000% due 4/1/26		3,197,321
	4,123,814	# AB3900, 3.000% due 11/1/26		4,354,869
	28,541	# 373328, 8.000% due 3/1/27		28,837
	3,445,117	# AK4751, 3.000% due 4/1/27		3,665,060
	90,530	# 390895, 8.000% due 6/1/27		110,402
	9,823,411	# AO0533, 3.000% due 6/1/27		10,379,951
	190,834	# 397602, 8.000% due 8/1/27		232,900
	28,279	# 405845, 8.000% due 11/1/27		28,554
	2,571	# 499335, 6.500% due 8/1/29		3,027
	16,415	# 252806, 7.500% due 10/1/29		19,979
	721	# 523497, 7.500% due 11/1/29		881
	4,179	# 588945, 7.000% due 6/1/31		4,993
	197,415	# 607862, 7.000% due 9/1/31		235,892
	24,868	# 624571, 7.000% due 3/1/32		29,679
	27,481	# 656872, 6.500% due 8/1/32		31,660
	21,194	# 687575, 7.000% due 2/1/33		25,256
	1,487,126	# 789856, 6.000% due 8/1/34		1,677,815
	295,365	# 820811, 6.000% due 4/1/35		330,238
	476,726	# 829202, 5.000% due 7/1/35		521,331
	726,173	# 826586, 5.000% due 8/1/35		794,119
	251,179	# 867021, 7.000% due 3/1/36		298,569
	206,310	# 256216, 7.000% due 4/1/36		245,234
	898,892	# 898412, 5.000% due 10/1/36		980,751
	398,258	# 910894, 5.000% due 2/1/37		434,526
	419,316	# 912456, 6.500% due 3/1/37		476,131
	241,689	# 939512, 5.000% due 6/1/37		263,698
	553,547	# 959877, 5.000% due 11/1/37		603,956
	3,103,120	#973241, 5.000% due 3/1/38		3,385,709
	811,914	# 975593, 5.000% due 6/1/38		885,852

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Core Fixed Income Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MORTGAGE-BACKED SECURITIES^,1 — (Continued)**
		Federal National Mortgage Association — (Continued)

$	1,129,118	# 257573, 5.500% due 2/1/39	$	1,238,262
	2,731,282	# AD7128, 4.500% due 7/1/40		2,955,608
	11,410,551	# AH1568, 4.500% due 12/1/40		12,554,543
	7,858,825	# AH6991, 4.000% due 1/1/41		8,426,494
	4,983,814	# AH4004, 4.500% due 3/1/41		5,402,491
	3,144,785	# AJ1315, 4.000% due 9/1/41		3,450,563
	5,626,945	# AB3867, 3.500% due 11/1/41		6,036,450
	3,310,888	# AI8779, 4.000% due 11/1/41		3,551,079
	5,920,928	# AJ0083, 3.500% due 11/1/41		6,312,046
	9,280,706	# AJ5958, 4.000% due 12/1/41		9,953,984
	9,644,181	# AK2070, 3.500% due 1/1/42		10,281,246
	2,701,898	# AK5070, 3.500% due 3/1/42		2,904,019
	9,513,688	# AK5426, 3.500% due 3/1/42		10,148,079
	9,785,701	# AB5248, 3.000% due 5/1/42		10,272,064
	10,761,958	# AP6289, 3.000% due 9/1/42		11,296,842
	8,175,559	# AP7950, 3.500% due 9/1/42		8,770,541

				153,395,935


		Government National Mortgage Association — 2.6%
	15,551	# 460389, 7.000% due 5/15/28		18,611
	23,178	# 464049, 7.000% due 7/15/28		27,738
	43,514	# 476259, 7.000% due 8/15/28		52,076
	17,880	# 496632, 7.000% due 12/15/28		21,398
	30,795	# 539971, 7.000% due 1/15/31		36,707
	13,427	# 485264, 7.500% due 2/15/31		13,904
	20,295	# 556417, 7.000% due 6/15/31		24,191
	45,634	# 559304, 7.000% due 9/15/31		54,394
	41,288	# 570289, 7.000% due 1/15/32		44,953
	81,137	# 574687, 6.000% due 4/15/34		92,312
	744,480	# 652486, 5.500% due 4/15/36		823,141
	1,258,069	# 651859, 5.000% due 6/15/36		1,381,559
	945,304	# 782150, 5.500% due 4/15/37		1,047,620
	1,111,048	# 608508, 6.000% due 8/15/37		1,258,199
	183,929	# 662521, 6.000% due 8/15/37		208,289
	580,030	# 677545, 6.000% due 11/15/37		656,851
	745,414	# 676291, 6.000% due 12/15/37		844,139
	181,528	# 678831, 5.000% due 1/15/38		198,893

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Core Fixed Income Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MORTGAGE-BACKED SECURITIES^,1 — (Continued)**
		Government National Mortgage Association — (Continued)

$	1,088,621	# 685836, 5.500% due 4/15/38	$	1,202,622
	2,733,601	# 698235, 5.000% due 6/15/39		3,005,343
	1,095,191	# 716655, 5.000% due 8/15/39		1,204,061

				12,217,001


		TOTAL MORTGAGE-BACKED SECURITIES (Cost $212,119,497)		220,057,318


*CORPORATE NOTES — 30.8%**
	14,000,000	Bear Stearns Cos. LLC,
		6.400% due 10/2/17		16,869,552
	10,000,000	Caterpillar Financial Services Corp.,
		7.050% due 10/1/18²		13,016,640
	8,000,000	General Electric Capital Corp.,
		6.000% due 8/7/19		9,799,280
	8,000,000	General Electric Capital Corp.,
		5.300% due 2/11/21²		9,308,640
	9,650,000	Honeywell International, Inc.,
		5.000% due 2/15/19		11,515,500
	11,000,000	IBM Corp.,
		8.375% due 11/1/19		15,804,811
	10,000,000	John Deere Capital Corp.,
		3.900% due 7/12/21²		11,264,740
	12,372,000	Oracle Corp.,
		5.750% due 4/15/18		15,231,070
	11,850,000	PepsiCo, Inc.,
		7.900% due 11/1/18		16,158,079
	5,000,000	Toyota Motor Credit Corp.,
		2.050% due 1/12/17		5,192,735
	2,285,000	United Technologies Corp.,
		6.125% due 2/1/19		2,875,499
	4,000,000	Wachovia Bank NA,
		5.600% due 3/15/16		4,471,268
	7,000,000	Wal-Mart Stores, Inc.,
		5.800% due 2/15/18		8,708,756
	5,000,000	Wal-Mart Stores, Inc.,
		7.550% due 2/15/30		7,554,270


		TOTAL CORPORATE NOTES (Cost $131,560,925)		147,770,840


*US TREASURY NOTES/BONDS — 11.4%**
	12,100,000	U.S. Treasury Bonds,
		6.125% due 8/15/29		18,503,550

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Core Fixed Income Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*US TREASURY NOTES/BONDS — (Continued)**

$	5,000,000	U.S. Treasury Bonds,
		3.125% due 11/15/41	$	5,306,250
	4,694,780	U.S. Treasury Inflation Indexed Bonds (TIPS),
		1.625% due 1/15/18		5,466,484
	4,000,000	U.S. Treasury Notes,
		3.125% due 10/31/16		4,407,500
	12,000,000	U.S. Treasury Notes,
		3.750% due 11/15/18		14,001,564
	7,000,000	U.S. Treasury Notes,
		1.375% due 11/30/18		7,177,737


		TOTAL US TREASURY NOTES/BONDS (Cost $50,296,931)		54,863,085


MUNICIPAL BONDS — 1.8%
	6,035,000	Mississippi, General Obligation Unlimited, Series C,
		2.227% due 10/1/17		6,213,153
	2,200,000	Houston, TX, General Obligation Limited, Refunding, Series B,
		3.393% due 3/1/23		2,388,320


		TOTAL MUNICIPAL BONDS (Cost $8,235,000)		8,601,473


*REPURCHASE AGREEMENTS — 3.6%**
	17,300,000	With Bank of America Corp., dated 10/31/12, 0.23%, principal and interest in the amount of $17,300,111, due 11/1/12, (collateralized by a U.S. Treasury Note with a par value of $16,693,300, coupon rate of 1.88%, due 9/30/17, market value of $17,645,987)		17,300,000
	60,047	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $60,047, due 11/1/12, (collateralized by a FHLMC security with a par value of $58,855, coupon rate of 4.000%, due 8/15/39, market value of $62,734)		60,047


		TOTAL REPURCHASE AGREEMENTS (Cost $17,360,047)		17,360,047

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Core Fixed Income Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares					Value


*INVESTMENT OF SECURITY LENDING COLLATERAL — 1.3%**
	6,064,480	State Street Navigator Securities Lending Prime Portfolio			$	6,064,480


		TOTAL INVESTMENT OF SECURITY LENDING COLLATERAL (Cost $6,064,480)				6,064,480

TOTAL INVESTMENTS (Cost $453,549,467)³			100.6	%	$	483,178,844
LIABILITIES IN EXCESS OF OTHER ASSETS			(0.6	)		(2,679,739	)

NET ASSETS			100.0	%	$	480,499,105


*		Percentages indicated are based on net assets.
¹		Represents current face amount at October 31, 2012.
²		Securities or partial securities on loan. See Note 1.
³		Aggregate cost for federal tax purposes was $453,549,467.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation
TIPS — Treasury Inflation Protected Security

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Core Fixed Income Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

SECTOR DIVERSIFICATION

On October 31, 2012, sector diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

SECTOR:
Federal National Mortgage Association		33.1	%	$	159,335,300
Corporate		30.8			147,770,840
Federal Home Loan Mortgage Corporation		16.0			76,966,618
US Treasury Notes/Bonds		11.4			54,863,085
Government National Mortgage Association		2.6			12,217,001
Municipal Bonds		1.8			8,601,473

TOTAL		95.7	%	$	459,754,317
REPURCHASE AGREEMENTS		3.6			17,360,047
INVESTMENTS OF SECURITY LENDING COLLATERAL		1.3			6,064,480

TOTAL INVESTMENTS		100.6	%	$	483,178,844

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Strategic Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 98.3%**

		Aerospace & Defense — 3.9%
	49,940	Honeywell International, Inc.	$	3,058,325
	20,550	Precision Castparts Corp.		3,556,588

				6,614,913


		Beverages — 2.8%
	129,730	Coca-Cola Co. (The)		4,823,361


		Capital Markets — 1.8%
	24,520	Franklin Resources, Inc.		3,133,656


		Chemicals — 3.3%
	80,075	EI du Pont de Nemours & Co.		3,564,939
	20,000	Praxair, Inc.		2,124,200

				5,689,139


		Commercial Banks — 7.1%
	20,070	M&T Bank Corp.		2,089,287
	64,695	PNC Financial Services Group, Inc.		3,764,602
	186,375	Wells Fargo & Co.		6,278,974

				12,132,863


		Communications Equipment — 2.8%
	82,245	Qualcomm, Inc.		4,817,501


		Computers & Peripherals — 5.3%
	15,210	Apple, Inc.		9,051,471


		Consumer Finance — 2.3%
	71,295	American Express Co.		3,990,381


		Electrical Equipment — 2.5%
	57,075	Cooper Industries PLC		4,277,201


		Electronic Equipment, Instruments & Components — 1.4%
	39,265	Amphenol Corp. — Class A		2,361,004


		Energy Equipment & Services — 4.4%
	43,405	National Oilwell Varco, Inc.		3,198,949
	60,770	Schlumberger, Ltd.		4,225,338

				7,424,287


		Health Care Equipment & Supplies — 2.3%
	63,775	Baxter International, Inc.		3,994,228

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Strategic Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**


		Health Care Providers & Services — 6.8%
	65,350	Express Scripts Holding Co.¹	$	4,021,639
	39,820	Laboratory Corp. of America Holdings¹		3,373,949
	74,460	UnitedHealth Group, Inc.		4,169,760

				11,565,348


		Hotels, Restaurants & Leisure — 2.6%
	62,700	Yum! Brands, Inc.		4,395,897


		Household Products — 5.6%
	31,685	Colgate-Palmolive Co.		3,325,658
	89,385	Procter & Gamble Co. (The)		6,189,017

				9,514,675


		Insurance — 3.3%
	45,700	ACE, Ltd.		3,594,305
	87,660	Progressive Corp. (The)		1,954,818

				5,549,123


		IT Services — 3.7%
	51,085	Accenture PLC — Class A		3,443,640
	42,190	Cognizant Technology Solutions Corp. — Class A¹		2,811,963

				6,255,603


		Machinery — 1.7%
	36,025	Parker Hannifin Corp.		2,833,727


		Oil, Gas & Consumable Fuels — 6.3%
	60,990	Chevron Corp.		6,721,708
	51,980	Occidental Petroleum Corp.		4,104,341

				10,826,049


		Pharmaceuticals — 4.9%
	23,680	Allergan, Inc.		2,129,306
	88,060	Johnson & Johnson		6,236,409

				8,365,715


		Road & Rail — 1.5%
	42,985	JB Hunt Transport Services, Inc.		2,523,220


		Semiconductors & Semiconductor Equipment — 1.7%
	91,470	Microchip Technology, Inc.		2,867,585

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Strategic Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares					Value

*COMMON STOCKS — (Continued)**

		Software — 6.9%
	214,110	Microsoft Corp.			$	6,109,629
	179,610	Oracle Corp.				5,576,890

						11,686,519


		Specialty Retail — 6.3%
	43,685	Advance Auto Parts, Inc.				3,099,014
	61,920	Bed Bath & Beyond, Inc.¹				3,571,545
	66,555	Home Depot, Inc.				4,085,146

						10,755,705


		Textiles, Apparel & Luxury Goods — 1.7%
	53,220	Coach, Inc.				2,982,981


		Tobacco — 3.3%
	63,015	Philip Morris International, Inc.				5,580,608


		Trading Companies & Distributors — 2.1%
	18,115	WW Grainger, Inc.				3,648,542


		TOTAL COMMON STOCKS (Cost $127,647,598)				167,661,302



Face
Amount


*REPURCHASE AGREEMENT — 1.7%**
$	2,888,191	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $2,888,191, due 11/1/12, (collateralized by a FHLMC security with a par value of $2,766,177, coupon rate of 4.000%, due 8/15/39, market value of $2,948,507)				2,888,191


		TOTAL REPURCHASE AGREEMENT (Cost $2,888,191)				2,888,191

TOTAL INVESTMENTS (Cost $130,535,789)²			100.0	%	$	170,549,493
OTHER ASSETS IN EXCESS OF LIABILITIES			0.0			30,691

NET ASSETS			100.0	%	$	170,580,184

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Strategic Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Aggregate cost for federal tax purposes was $130,391,723.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Strategic Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Commercial Banks		7.1	%	$	12,132,863
Software		6.9			11,686,519
Health Care Providers & Services		6.8			11,565,348
Oil, Gas & Consumable Fuels		6.3			10,826,049
Specialty Retail		6.3			10,755,705
Household Products		5.6			9,514,675
Computers & Peripherals		5.3			9,051,471
Pharmaceuticals		4.9			8,365,715
Energy Equipment & Services		4.4			7,424,287
Aerospace & Defense		3.9			6,614,913
IT Services		3.7			6,255,603
Chemicals		3.3			5,689,139
Tobacco		3.3			5,580,608
Insurance		3.3			5,549,123
Beverages		2.8			4,823,361
Communications Equipment		2.8			4,817,501
Hotels, Restaurants & Leisure		2.6			4,395,897
Electrical Equipment		2.5			4,277,201
Health Care Equipment & Supplies		2.3			3,994,228
Consumer Finance		2.3			3,990,381
Trading Companies & Distributors		2.1			3,648,542
Capital Markets		1.8			3,133,656
Textiles, Apparel & Luxury Goods		1.7			2,982,981
Semiconductors & Semiconductor Equipment		1.7			2,867,585
Machinery		1.7			2,833,727
Road & Rail		1.5			2,523,220
Electronic Equipment, Instruments & Components		1.4			2,361,004

TOTAL COMMON STOCKS		98.3	%	$	167,661,302
REPURCHASE AGREEMENTS		1.7			2,888,191

TOTAL INVESTMENTS		100.0	%	$	170,549,493

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Small Cap Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 97.8%**

		Aerospace & Defense — 5.0%
	167,789	BE Aerospace, Inc.¹	$	7,565,606
	214,647	Orbital Sciences Corp.¹		2,876,270
	127,946	Triumph Group, Inc.		8,370,227

				18,812,103


		Airlines — 0.8%
	170,595	Spirit Airlines, Inc.¹		2,993,942


		Apparel Retailers — 2.5%
	86,139	DSW, Inc. — Class A		5,391,440
	130,752	Rue21, Inc.^1,2		3,936,943

				9,328,383


		Automotive — 4.7%
	566,216	American Axle & Manufacturing Holdings, Inc.^1,2		6,154,768
	98,764	Lithia Motors, Inc. — Class A		3,377,729
	221,100	Sonic Automotive, Inc. — Class A		4,289,340
	129,348	Tenneco Automotive, Inc.¹		3,951,581

				17,773,418


		Banking — 10.3%
	82,491	Berkshire Hills Bancorp, Inc.		1,936,889
	104,939	Chemical Financial Corp.		2,468,165
	118,125	Community Bank System, Inc.		3,259,069
	61,167	Community Trust Bancorp, Inc.		2,074,785
	310,043	First Financial Bancorp		4,867,675
	225,869	Flushing Financial Corp.		3,512,263
	127,946	Lakeland Financial Corp.		3,414,879
	231,480	Northwest Bancshares, Inc.		2,754,612
	126,824	Prosperity Bancshares, Inc.		5,308,852
	180,696	Renasant Corp.		3,326,613
	85,017	UMB Financial Corp.		3,785,807
	106,902	WesBanco, Inc.		2,351,844

				39,061,453


		Beverages, Food & Tobacco — 0.9%
	210,998	Darling International, Inc.¹		3,487,797


		Chemicals — 1.4%
	132,716	LSB Industries, Inc.¹		5,344,473

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Small Cap Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Commercial Services — 5.5%
	193,602	Cardtronics, Inc.¹	$	5,500,233
	97,643	MAXIMUS, Inc.		5,387,941
	135,802	MoneyGram International, Inc.¹		2,110,363
	136,472	Myriad Genetics, Inc.¹		3,571,472
	120,089	TAL International Group, Inc.		4,099,838

				20,669,847


		Communications — 0.6%
	545,174	Harmonic, Inc.¹		2,366,055


		Computer Software & Processing — 2.0%
	106,888	Medidata Solutions, Inc.¹		4,491,434
	175,645	Unisys Corp.^1,2		2,994,747

				7,486,181


		Computers & Information — 1.0%
	104,658	NETGEAR, Inc.^1,2		3,716,406


		Electric Utilities — 0.5%
	53,311	NorthWestern Corp.		1,909,067


		Electrical Equipment — 3.5%
	95,397	AZZ, Inc.		3,762,458
	124,859	EnerSys¹		4,305,138
	47,419	Littelfuse, Inc.		2,541,658
	71,267	Moog, Inc. — Class A¹		2,637,592

				13,246,846


		Electronics — 6.7%
	80,247	Cirrus Logic, Inc.^1,2		3,271,670
	195,286	Finisar Corp.^1,2		2,249,695
	480,472	GT Advanced Technologies, Inc.^1,2		2,085,248
	81,650	Measurement Specialties, Inc.¹		2,662,606
	145,903	Microsemi Corp.¹		2,801,338
	155,443	Multi-Fineline Electronix, Inc.¹		3,286,065
	360,151	Pericom Semiconductor Corp.¹		2,783,967
	274,128	PMC — Sierra, Inc.¹		1,282,919
	74,635	Veeco Instruments, Inc.^1,2		2,291,295
	145,903	Volterra Semiconductor Corp.¹		2,651,058

				25,365,861

See Notes to Financial Statements.

THE GLENMEDE FUND, INC.

Small Cap Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Entertainment & Leisure — 3.6%
	330,808	Ameristar Casinos, Inc.	$	6,037,246
	310,606	Cinemark Holdings, Inc.		7,668,862

				13,706,108


		Financial Services — 3.7%
	393,658	Newcastle Investment Corp.		3,405,141
	137,204	PennyMac Mortgage Investment Trust		3,490,470
	211,559	Sabra Health Care, Inc.		4,700,841
	200,616	Two Harbors Investment Corp.		2,393,349

				13,989,801


		Forest Products & Paper — 1.2%
	210,437	KapStone Paper and Packaging Corp.¹		4,623,301


		Health Care Providers — 3.0%
	120,187	Bio-Reference Labs, Inc.¹		3,336,391
	467,172	Health Management Associates, Inc.¹		3,410,355
	68,463	Mednax, Inc.^1,2		4,722,578

				11,469,324


		Heavy Construction — 0.9%
	234,006	Primoris Services Corp.		3,269,064


		Heavy Machinery — 2.1%
	409,091	Entegris, Inc.¹		3,358,637
	192,761	Titan Machinery, Inc.^1,2		4,558,798

				7,917,435


		Home Construction, Furnishings & Appliances — 1.2%
	74,355	Tupperware Brands Corp.		4,394,380


		Industrial — 1.5%
	69,305	Crane Co.		2,909,424
	38,721	Gardner Denver, Inc.		2,684,527

				5,593,951


		Insurance — 8.2%
	172,558	Alterra Capital Holdings, Ltd.		4,215,592
	398,708	American Equity Investment Life Holding Co.		4,589,129
	140,292	Amtrust Financial Services, Inc.		3,395,066
	113,917	Centene Corp.¹		4,326,568

See Notes to Financial Statements.

100

THE GLENMEDE FUND, INC.

Small Cap Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Insurance — (Continued)

	307,800	Metropolitan Health Networks, Inc.¹	$	3,364,254
	72,671	ProAssurance Corp.		6,496,788
	175,364	Protective Life Corp.		4,787,437

				31,174,834


		Lodging — 1.0%
	193,883	Chesapeake Lodging Trust		3,654,695


		Media — Broadcasting & Publishing — 0.7%
	200,336	Sinclair Broadcast Group, Inc. — Class A		2,524,234


		Medical Supplies — 3.4%
	73,794	Cyberonics, Inc.^1,2		3,412,972
	190,236	Hanger Orthopedic Group, Inc.¹		4,822,483
	77,722	ICU Medical, Inc.^1,2		4,611,246

				12,846,701


		Oil & Gas — 6.5%
	109,147	Atwood Oceanics, Inc.¹		5,217,227
	187,429	EPL Oil & Gas, Inc.¹		4,055,963
	139,450	Gulfport Energy Corp.¹		4,626,951
	71,549	Oil States International, Inc.¹		5,230,232
	234,568	Stone Energy Corp.¹		5,533,459

				24,663,832


		Pharmaceuticals — 2.9%
	182,099	Alere, Inc.¹		3,496,301
	114,759	Nu Skin Enterprises, Inc. — Class A		5,431,544
	185,184	Spectrum Pharmaceuticals, Inc.^1,2		2,066,653

				10,994,498


		Real Estate Investment Trusts — 4.4%
	415,825	Ashford Hospitality Trust, Inc.		3,571,937
	427,047	Brandywine Realty Trust		4,953,745
	175,926	DuPont Fabros Technology, Inc.		3,775,372
	324,635	Ramco-Gershenson Properties		4,207,270

				16,508,324


		Restaurants — 2.6%
	55,275	Buffalo Wild Wings, Inc.^1,2		4,198,136
	342,593	Texas Roadhouse, Inc.		5,577,414

				9,775,550

See Notes to Financial Statements.

101

THE GLENMEDE FUND, INC.

Small Cap Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares					Value

*COMMON STOCKS — (Continued)**

		Retailers — 0.6%
	109,147	Perry Ellis International, Inc.¹			$	2,252,794


		Technology — 0.9%
	79,125	MICROS Systems, Inc.¹				3,591,484


		Telecommunications — 2.6%
	111,672	j2 Global, Inc.				3,354,627
	288,848	MasTec, Inc.^1,2				6,516,411

						9,871,038


		Transportation — 0.8%
	326,038	Swift Transportation Co.^1,2				3,178,870


		Water Companies — 0.6%
	49,944	American States Water Co.				2,198,535


		TOTAL COMMON STOCKS (Cost $329,373,928)				369,760,585



Face
Amount


*REPURCHASE AGREEMENT — 2.6%**
$	9,676,707	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $9,676,710, due 11/1/12, (collateralized by a FHLMC security with a par value of $9,262,278, coupon rate of 4.000%, due 8/15/39, market value of $9,872,792)				9,676,707


		TOTAL REPURCHASE AGREEMENT (Cost $9,676,707)				9,676,707



Shares


*INVESTMENT OF SECURITY LENDING COLLATERAL — 10.9%**
	41,306,224	State Street Navigator Securities Lending Prime Portfolio				41,306,224


		TOTAL INVESTMENT OF SECURITY LENDING COLLATERAL (Cost $41,306,224)				41,306,224

TOTAL INVESTMENTS (Cost $380,356,859)³			111.3	%	$	420,743,516
LIABILITIES IN EXCESS OF OTHER ASSETS			(11.3	)		(42,877,370	)

NET ASSETS			100.0	%	$	377,866,146

See Notes to Financial Statements.

102

THE GLENMEDE FUND, INC.

Small Cap Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Securities or partial securities on loan. See Note 1.
³		Aggregate cost for federal tax purposes was $382,564,342.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

103

THE GLENMEDE FUND, INC.

Small Cap Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Banking		10.3	%	$	39,061,453
Insurance		8.2			31,174,834
Electronics		6.7			25,365,861
Oil & Gas		6.5			24,663,832
Commercial Services		5.5			20,669,847
Aerospace & Defense		5.0			18,812,103
Automotive		4.7			17,773,418
Real Estate Investment Trusts		4.4			16,508,324
Financial Services		3.7			13,989,801
Entertainment & Leisure		3.6			13,706,108
Electrical Equipment		3.5			13,246,846
Medical Supplies		3.4			12,846,701
Health Care Providers		3.0			11,469,324
Pharmaceuticals		2.9			10,994,498
Telecommunications		2.6			9,871,038
Restaurants		2.6			9,775,550
Apparel Retailers		2.5			9,328,383
Heavy Machinery		2.1			7,917,435
Computer Software & Processing		2.0			7,486,181
Industrial		1.5			5,593,951
Chemicals		1.4			5,344,473
Forest Products & Paper		1.2			4,623,301
Home Construction, Furnishings & Appliances		1.2			4,394,380
Computers & Information		1.0			3,716,406
Lodging		1.0			3,654,695
Technology		0.9			3,591,484
Beverages, Food & Tobacco		0.9			3,487,797
Heavy Construction		0.9			3,269,064
Transportation		0.8			3,178,870
Airlines		0.8			2,993,942
Media — Broadcasting & Publishing		0.7			2,524,234
Communications		0.6			2,366,055

See Notes to Financial Statements.

104

THE GLENMEDE FUND, INC.

Small Cap Equity Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

Retailers		0.6	%	$	2,252,794
Water Companies		0.6			2,198,535
Electric Utilities		0.5			1,909,067

TOTAL COMMON STOCKS		97.8	%	$	369,760,585
REPURCHASE AGREEMENTS		2.6			9,676,707
INVESTMENTS OF SECURITY LENDING COLLATERAL		10.9			41,306,224

TOTAL INVESTMENTS		111.3	%	$	420,743,516

See Notes to Financial Statements.

105

THE GLENMEDE FUND, INC.

Large Cap Value Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 98.6%**

		Advertising — 1.3%
	20,410	Omnicom Group, Inc.	$	977,843


		Aerospace & Defense — 1.2%
	20,945	BE Aerospace, Inc.^1,2		944,410


		Banking — 15.8%
	36,005	Capital One Financial Corp.		2,166,421
	61,115	Comerica, Inc.		1,821,838
	24,585	PNC Financial Services Group, Inc.		1,430,601
	84,465	SLM Corp.		1,484,895
	74,870	SunTrust Banks, Inc.		2,036,464
	95,815	Wells Fargo & Co.		3,228,007

				12,168,226


		Beverages, Food & Tobacco — 4.2%
	24,255	Bunge, Ltd.		1,722,833
	36,925	Reynolds American, Inc.		1,537,557

				3,260,390


		Commercial Services — 7.0%
	27,950	Fluor Corp.		1,561,007
	115,640	Hertz Global Holdings, Inc.^1,2		1,534,543
	44,480	KBR, Inc.		1,239,213
	84,465	Western Union Co. (The)		1,072,706

				5,407,469


		Computer Software & Processing — 2.2%
	51,000	Fidelity National Information Services, Inc.		1,676,370


		Computers & Information — 0.9%
	20,535	Western Digital Corp.		702,913


		Consumer Non — Durables — 1.8%
	48,870	ConAgra Foods, Inc.		1,360,541


		Consumer Services — 1.2%
	19,240	Disney (Walt) Co.		944,107


		Electric Utilities — 3.4%
	17,921	Duke Energy Corp.		1,177,230
	20,795	NextEra Energy, Inc.		1,456,898

				2,634,128

See Notes to Financial Statements.

106

THE GLENMEDE FUND, INC.

Large Cap Value Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Electronics — 2.7%
	58,120	Arrow Electronics, Inc.¹	$	2,047,568


		Energy — 1.8%
	15,395	Exxon Mobil Corp.		1,403,562


		Entertainment & Leisure — 3.1%
	55,430	Time Warner, Inc.		2,408,433


		Financial Services — 4.2%
	77,270	JPMorgan Chase & Co.		3,220,614


		Health Care Providers — 1.9%
	50,735	HCA Holdings, Inc.		1,441,381


		Heavy Machinery — 1.6%
	8,915	Flowserve Corp.		1,207,893


		Insurance — 13.6%
	54,085	CIGNA Corp.		2,758,335
	8,090	Everest Re Group, Ltd.		898,395
	76,405	Fidelity National Financial, Inc. — Class A		1,635,831
	56,950	Metlife, Inc.		2,021,155
	29,574	Torchmark Corp.		1,496,149
	66,545	XL Group PLC		1,646,323

				10,456,188


		Media — Broadcasting & Publishing — 2.6%
	33,080	Scripps Networks Interactive, Inc. — Class A		2,008,618


		Metals & Mining — 1.2%
	17,690	Reliance Steel & Aluminum Co.		961,275


		Oil & Gas — 10.3%
	26,745	Apache Corp.		2,213,149
	13,325	Chevron Corp.		1,468,548
	40,035	ConocoPhillips		2,316,025
	28,685	Diamond Offshore Drilling, Inc.		1,986,149

				7,983,871

See Notes to Financial Statements.

107

THE GLENMEDE FUND, INC.

Large Cap Value Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares					Value

*COMMON STOCKS — (Continued)**

		Pharmaceuticals — 8.8%
	23,285	McKesson Corp.			$	2,172,723
	75,990	Mylan, Inc.¹				1,925,587
	31,570	Watson Pharmaceuticals, Inc.^1,2				2,713,441

						6,811,751


		Process Industries — 2.4%
	86,435	General Electric Co.				1,820,321


		Retailers — 5.4%
	55,430	CVS Caremark Corp.				2,571,952
	30,790	Signet Jewelers, Ltd.				1,593,690

						4,165,642


		TOTAL COMMON STOCKS (Cost $69,539,016)				76,013,514



Face
Amount


*REPURCHASE AGREEMENT — 1.3%**
$	1,010,141	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $1,010,141 due 11/1/12 (collateralized by a FHLMC Security with a par value of $968,652, coupon rate of 4.000% due 8/15/39, market value of $1,032,500)				1,010,141


		TOTAL REPURCHASE AGREEMENT (Cost $1,010,141)				1,010,141



Shares


*INVESTMENT OF SECURITY LENDING COLLATERAL — 4.2%**
	3,276,683	State Street Navigator Securities Lending Prime Portfolio				3,276,683


		TOTAL INVESTMENT OF SECURITY LENDING COLLATERAL (Cost $3,276,683)				3,276,683

TOTAL INVESTMENTS (Cost $73,825,840)³			104.1	%	$	80,300,338
LIABILITIES IN EXCESS OF OTHER ASSETS			(4.1	)		(3,193,531	)

NET ASSETS			100.0	%	$	77,106,807

See Notes to Financial Statements.

108

THE GLENMEDE FUND, INC.

Large Cap Value Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Securities or partial securities on loan. See Note 1.
³		Aggregate cost for federal tax purposes was $74,433,910.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

109

THE GLENMEDE FUND, INC.

Large Cap Value Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Banking		15.8	%	$	12,168,226
Insurance		13.6			10,456,188
Oil & Gas		10.3			7,983,871
Pharmaceuticals		8.8			6,811,751
Commercial Services		7.0			5,407,469
Retailers		5.4			4,165,642
Beverages, Food & Tobacco		4.2			3,260,390
Financial Services		4.2			3,220,614
Electric Utilities		3.4			2,634,128
Entertainment & Leisure		3.1			2,408,433
Electronics		2.7			2,047,568
Media — Broadcasting & Publishing		2.6			2,008,618
Process Industries		2.4			1,820,321
Computer Software & Processing		2.2			1,676,370
Health Care Providers		1.9			1,441,381
Energy		1.8			1,403,562
Consumer Non — Durables		1.8			1,360,541
Heavy Machinery		1.6			1,207,893
Advertising		1.3			977,843
Metals & Mining		1.2			961,275
Aerospace & Defense		1.2			944,410
Consumer Services		1.2			944,107
Computers & Information		0.9			702,913

TOTAL COMMON STOCKS		98.6	%	$	76,013,514
REPURCHASE AGREEMENTS		1.3			1,010,141
INVESTMENTS OF SECURITY LENDING COLLATERAL		4.2			3,276,683

TOTAL INVESTMENTS		104.1	%	$	80,300,338

See Notes to Financial Statements.

110

THE GLENMEDE FUND, INC.

U.S. Emerging Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 99.3%**

		Aerospace & Defense — 1.7%
	5,690	Moog, Inc. — Class A^1,2	$	210,587
	32,770	Taser International, Inc.^1,2		255,934

				466,521


		Auto Components — 1.0%
	13,356	Cooper Tire & Rubber Co.		268,856


		Biotechnology — 0.5%
	13,012	Spectrum Pharmaceuticals, Inc.^1,2		145,214


		Capital Markets — 0.8%
	17,513	Duff & Phelps Corp. — Class A		217,687


		Chemicals — 1.8%
	7,800	Chemtura Corp.¹		124,254
	19,227	PolyOne Corp.		363,967

				488,221


		Commercial Banks — 3.8%
	9,930	Community Bank System, Inc.		273,969
	21,784	Hanmi Financial Corp.¹		270,339
	7,830	Home BancShares, Inc./AR		271,231
	26,758	National Penn Bancshares, Inc.		238,949

				1,054,488


		Commercial Services & Supplies — 0.6%
	6,400	Tetra Tech, Inc.^1,2		166,016


		Communications Equipment — 3.9%
	16,923	Adtran, Inc.		285,830
	9,130	Dycom Industries, Inc.¹		130,011
	26,265	Globecomm Systems, Inc.^1,2		284,975
	16,220	MasTec, Inc.^1,2		365,923

				1,066,739


		Computers & Peripherals — 1.0%
	11,818	Synaptics, Inc.^1,2		273,705


		Consumer Finance — 2.4%
	35,625	Netspend Holdings, Inc.^1,2		381,544
	3,929	World Acceptance Corp.^1,2		262,300

				643,844

See Notes to Financial Statements.

111

THE GLENMEDE FUND, INC.

U.S. Emerging Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Containers & Packaging — 0.6%
	11,126	Myers Industries, Inc.	$	164,999


		Diversified Consumer Services — 1.2%
	4,322	Coinstar, Inc.^1,2		202,875
	6,025	Grand Canyon Education, Inc.^1,2		131,104

				333,979


		Electric Utilities — 2.1%
	8,422	El Paso Electric Co.		286,264
	6,731	UNS Energy Corp.		287,010

				573,274


		Electrical Equipment — 1.9%
	7,923	Belden, Inc.		283,643
	7,120	EnerSys¹		245,498

				529,141


		Electronic Equipment, Instruments & Components — 2.0%
	4,949	Anixter International, Inc.		290,110
	30,040	Mercury Computer Systems, Inc.^1,2		246,178

				536,288


		Energy Equipment & Services — 0.5%
	2,200	Geospace Technologies Corp.¹		142,406


		Food Products — 2.2%
	11,176	B&G Foods, Inc.		338,297
	16,601	Darling International, Inc.¹		274,415

				612,712


		Gas Utilities — 1.0%
	5,775	Northwest Natural Gas Co.		268,711


		Health Care Equipment & Supplies — 6.0%
	12,353	ABIOMED, Inc.^1,2		244,836
	10,124	Align Technology, Inc.^1,2		269,096
	4,212	Analogic Corp.		310,256
	4,626	Arthrocare Corp.¹		139,150
	21,285	Natus Medical, Inc.¹		240,521
	11,483	Spectranetics Corp.^1,2		167,192
	14,456	SurModics, Inc.¹		259,919

				1,630,970

See Notes to Financial Statements.

112

THE GLENMEDE FUND, INC.

U.S. Emerging Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Health Care Providers & Services — 1.0%
	5,507	Magellan Health Services, Inc.¹	$	276,176


		Health Care Technology — 0.9%
	16,568	Omnicell, Inc.¹		241,561


		Hotels, Restaurants & Leisure — 3.6%
	8,983	Cheesecake Factory, Inc. (The)		296,978
	59,000	Jamba, Inc.¹		129,210
	5,668	Papa John’s International, Inc.¹		302,218
	3,515	Ryman Hospitality Properties¹		137,120
	14,670	Scientific Games Corp. — Class A^1,2		120,734

				986,260


		Insurance — 0.9%
	2,785	ProAssurance Corp.		248,979


		Internet Software & Services — 3.0%
	27,879	Demand Media, Inc.^1,2		237,808
	34,684	Dice Holdings, Inc.^1,2		306,260
	17,026	Valueclick, Inc.^1,2		283,823

				827,891


		IT Services — 4.7%
	5,583	CACI International, Inc. — Class A¹		281,551
	14,711	CSG Systems International, Inc.¹		303,194
	11,027	Heartland Payment Systems, Inc.		287,584
	13,375	Sapient Corp.¹		137,495
	16,411	TeleTech Holdings, Inc.¹		276,361

				1,286,185


		Leisure Equipment & Products — 2.7%
	12,420	Brunswick Corp.		292,987
	13,998	Smith & Wesson Holding Corp.^1,2		134,381
	6,521	Sturm Ruger & Co., Inc.		307,987

				735,355


		Life, Sciences Tools & Services — 1.0%
	17,026	AMAG Pharmaceuticals, Inc.^1,2		263,563


		Machinery — 1.7%
	12,484	Titan International, Inc.		261,914
	30,155	Wabash National Corp.¹		190,278

				452,192

See Notes to Financial Statements.

113

THE GLENMEDE FUND, INC.

U.S. Emerging Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Media — 0.4%
	4,261	Valassis Communications, Inc.^1,2	$	110,871


		Metals & Mining — 0.6%
	7,628	Worthington Industries, Inc.		164,917


		Multi-Utilities — 1.0%
	7,700	NorthWestern Corp.		275,737


		Oil, Gas & Consumable Fuels — 4.3%
	8,312	CVR Energy, Inc.¹		305,466
	7,365	Energy XXI Bermuda, Ltd.		243,781
	6,132	Targa Resources Corp.		312,303
	12,891	Western Refining, Inc.		320,599

				1,182,149


		Paper & Forest Products — 1.4%
	8,857	Buckeye Technologies, Inc.		232,053
	6,300	KapStone Paper and Packaging Corp.^1,2		138,411

				370,464


		Personal Products — 0.9%
	2,583	Elizabeth Arden, Inc.^1,2		121,866
	5,225	Medifast, Inc.^1,2		133,342

				255,208


		Pharmaceuticals — 3.9%
	8,740	Impax Laboratories, Inc.¹		185,725
	16,390	Medicines Co. (The)¹		359,269
	36,625	Pozen, Inc.^1,2		219,383
	57,035	Sciclone Pharmaceuticals, Inc.^1,2		314,263

				1,078,640


		Professional Services — 1.9%
	16,971	On Assignment, Inc.¹		323,807
	15,292	TrueBlue, Inc.^1,2		199,560

				523,367


		Real Estate Investment Trusts — 8.8%
	17,532	Associated Estates Realty Corp.		262,805
	15,898	CBL & Associates Properties, Inc.		355,638
	6,579	Entertainment Properties Trust		292,437
	29,875	Inland Real Estate Corp.		244,079

See Notes to Financial Statements.

114

THE GLENMEDE FUND, INC.

U.S. Emerging Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Real Estate Investment Trusts — (Continued)

	8,786	LaSalle Hotel Properties	$	210,337
	3,811	Mid-America Apartment Communities, Inc.		246,610
	11,945	Omega Healthcare Investors, Inc.		274,018
	7,576	Potlatch Corp.		291,524
	42,317	Strategic Hotels & Resorts, Inc.¹		232,320

				2,409,768


		Road & Rail — 2.0%
	9,155	Avis Budget Group, Inc.^1,2		151,332
	15,555	Celadon Group, Inc.		265,991
	7,737	Roadrunner Transportation Systems, Inc.^1,2		134,856

				552,179


		Semiconductors & Semiconductor Equipment — 7.5%
	64,755	Entropic Communications, Inc.¹		311,472
	8,500	FEI Co.		467,925
	55,771	GT Advanced Technologies, Inc.^1,2		242,046
	32,257	Integrated Device Technology, Inc.¹		175,478
	12,009	MKS Instruments, Inc.		283,773
	14,841	Monolithic Power Systems, Inc.^1,2		288,361
	9,222	Veeco Instruments, Inc.¹		283,115

				2,052,170


		Software — 3.5%
	44,536	Actuate Corp.¹		237,377
	6,594	Fair Isaac Corp.		307,280
	3,752	Jack Henry & Associates, Inc.		142,576
	11,393	Netscout Systems, Inc.¹		281,749

				968,982


		Specialty Retail — 4.7%
	9,727	ANN, Inc.^1,2		342,001
	3,430	Cabela’s, Inc.^1,2		153,698
	13,403	Finish Line, Inc. (The) — Class A		278,849
	16,024	Pier 1 Imports, Inc.		326,890
	6,796	Select Comfort Corp.^1,2		189,133

				1,290,571


		Trading Companies & Distributors — 2.2%
	5,793	Applied Industrial Techologies, Inc.		235,138
	11,543	Beacon Roofing Supply, Inc.^1,2		373,301

				608,439

See Notes to Financial Statements.

115

THE GLENMEDE FUND, INC.

U.S. Emerging Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares					Value

*COMMON STOCKS — (Continued)**

		Water and Sewer — 1.7%
	7,359	American States Water Co.			$	323,943
	7,495	California Water Service Group				138,058

						462,001


		TOTAL COMMON STOCKS (Cost $24,420,578)				27,207,396



Face
Amount


*REPURCHASE AGREEMENT — 0.5%**
$	129,869	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $129,869, due 11/1/12, (collateralized by a FHLMC Security with a par value of $125,067, coupon rate of 4.000%, due 8/15/39, market value of $133,310)				129,869


		TOTAL REPURCHASE AGREEMENT (Cost $129,869)				129,869



Shares


*INVESTMENT OF SECURITY LENDING COLLATERAL — 22.0%**
	6,030,250	State Street Navigator Securities Lending Prime Portfolio				6,030,250


		TOTAL INVESTMENT OF SECURITY LENDING COLLATERAL (Cost $6,030,250)				6,030,250

TOTAL INVESTMENTS (Cost $30,580,697)³			121.8	%	$	33,367,515
LIABILITIES IN EXCESS OF OTHER ASSETS			(21.8	)		(5,982,340	)

NET ASSETS			100.0	%	$	27,385,175


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Securities or partial securities on loan. See Note 1.
³		Aggregate cost for federal tax purposes was $30,625,854.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

116

THE GLENMEDE FUND, INC.

U.S. Emerging Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Real Estate Investment Trusts		8.8	%	$	2,409,768
Semiconductors & Semiconductor Equipment		7.5			2,052,170
Health Care Equipment & Supplies		6.0			1,630,970
Specialty Retail		4.7			1,290,571
IT Services		4.7			1,286,185
Oil, Gas & Consumable Fuels		4.3			1,182,149
Pharmaceuticals		3.9			1,078,640
Communications Equipment		3.9			1,066,739
Commercial Banks		3.8			1,054,488
Hotels, Restaurants & Leisure		3.6			986,260
Software		3.5			968,982
Internet Software & Services		3.0			827,891
Leisure Equipment & Products		2.7			735,355
Consumer Finance		2.4			643,844
Food Products		2.2			612,712
Trading Companies & Distributors		2.2			608,439
Electric Utilities		2.1			573,274
Road & Rail		2.0			552,179
Electronic Equipment, Instruments & Components		2.0			536,288
Electrical Equipment		1.9			529,141
Professional Services		1.9			523,367
Chemicals		1.8			488,221
Aerospace & Defense		1.7			466,521
Water and Sewer		1.7			462,001
Machinery		1.7			452,192
Paper & Forest Products		1.4			370,464
Diversified Consumer Services		1.2			333,979
Health Care Providers & Services		1.0			276,176
Multi-Utilities		1.0			275,737
Computers & Peripherals		1.0			273,705
Auto Components		1.0			268,856
Gas Utilities		1.0			268,711
Life, Sciences Tools & Services		1.0			263,563
Personal Products		0.9			255,208
Insurance		0.9			248,979
Health Care Technology		0.9			241,561
Capital Markets		0.8			217,687
Commercial Services & Supplies		0.6			166,016
Containers & Packaging		0.6			164,999
Metals & Mining		0.6			164,917

See Notes to Financial Statements.

117

THE GLENMEDE FUND, INC.

U.S. Emerging Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

Biotechnology		0.5	%	$	145,214
Energy Equipment & Services		0.5			142,406
Media		0.4			110,871

TOTAL COMMON STOCKS		99.3	%	$	27,207,396
REPURCHASE AGREEMENTS		0.5			129,869
INVESTMENTS OF SECURITY LENDING COLLATERAL		22.0			6,030,250

TOTAL INVESTMENTS		121.8	%	$	33,367,515

See Notes to Financial Statements.

118

THE GLENMEDE FUND, INC.

Large Cap 100 Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 99.4%**

		Aerospace & Defense — 4.3%
	14,256	General Dynamics Corp.	$	970,548
	9,662	Honeywell International, Inc.		591,701
	15,992	L-3 Communications Holdings, Inc.		1,180,210
	16,197	Northrop Grumman Corp.		1,112,572
	18,411	Raytheon Co.		1,041,326

				4,896,357


		Auto Components — 1.8%
	35,049	Delphi Automotive PLC¹		1,101,940
	21,690	TRW Automotive Holdings Corp.¹		1,008,802

				2,110,742


		Beverages — 3.0%
	37,290	Coca-Cola Enterprises, Inc.		1,172,398
	27,113	Dr Pepper Snapple Group, Inc.		1,161,792
	26,596	Molson Coors Brewing Co. — Class B		1,147,351

				3,481,541


		Biotechnology — 3.4%
	17,802	Amgen, Inc.		1,540,674
	7,749	Celgene Corp.¹		568,157
	27,689	Gilead Sciences, Inc.^1,2		1,859,593

				3,968,424


		Chemicals — 2.5%
	4,867	CF Industries Holdings, Inc.		998,660
	31,674	Eastman Chemical Co.		1,876,368

				2,875,028


		Commercial Banks — 3.7%
	28,269	BB&T Corp.		818,388
	35,040	Comerica, Inc.		1,044,542
	82,742	Fifth Third Bancorp		1,202,241
	36,013	Wells Fargo & Co.		1,213,278

				4,278,449


		Communications Equipment — 1.6%
	36,861	Cisco Systems, Inc.		631,798
	71,030	Juniper Networks, Inc.^1,2		1,176,967

				1,808,765

See Notes to Financial Statements.

119

THE GLENMEDE FUND, INC.

Large Cap 100 Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Computers & Peripherals — 3.0%
	3,507	Apple, Inc.	$	2,087,016
	56,368	EMC Corp.¹		1,376,506

				3,463,522


		Construction & Engineering — 2.3%
	18,805	Chicago Bridge & Iron Co. NV		706,128
	21,491	Fluor Corp.		1,200,272
	28,335	KBR, Inc.		789,413

				2,695,813


		Consumer Finance — 1.3%
	35,747	Discover Financial Services		1,465,627


		Diversified Financial Services — 4.4%
	31,142	Citigroup, Inc.		1,164,399
	21,960	CME Group, Inc.		1,228,223
	32,207	JPMorgan Chase & Co.		1,342,388
	27,166	Moody’s Corp.		1,308,315

				5,043,325


		Electric Utilities — 3.0%
	15,996	Entergy Corp.		1,160,990
	28,925	Exelon Corp.		1,034,937
	41,130	PPL Corp.		1,216,625

				3,412,552


		Energy Equipment & Services — 6.1%
	26,971	Baker Hughes, Inc.		1,131,973
	21,769	Ensco PLC — Class A		1,258,683
	33,128	Halliburton Co.		1,069,703
	24,671	Helmerich & Payne, Inc.		1,179,274
	17,951	National Oilwell Varco, Inc.		1,322,989
	53,572	Superior Energy Services, Inc.¹		1,089,119

				7,051,741


		Food & Staples Retailing — 1.2%
	30,921	Kroger Co. (The)		779,828
	17,539	Walgreen Co.		617,899

				1,397,727

See Notes to Financial Statements.

120

THE GLENMEDE FUND, INC.

Large Cap 100 Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Food Products — 2.1%
	42,623	ConAgra Foods, Inc.	$	1,186,624
	42,236	Hormel Foods Corp.		1,247,229

				2,433,853


		Health Care Equipment & Supplies — 0.9%
	15,690	Zimmer Holdings, Inc.		1,007,455


		Health Care Providers & Services — 2.2%
	24,076	AmerisourceBergen Corp.		949,557
	14,590	Cardinal Health, Inc.		600,087
	16,900	WellPoint, Inc.		1,035,632

				2,585,276


		Hotels, Restaurants & Leisure — 1.4%
	32,536	Wyndham Worldwide Corp.		1,639,814


		Household Products — 1.1%
	16,758	Energizer Holdings, Inc.		1,222,831


		Industrial Conglomerates — 0.3%
	10,918	Tyco International, Ltd.		293,367


		Insurance — 5.9%
	25,091	Aflac, Inc.		1,249,030
	31,674	Allstate Corp. (The)		1,266,327
	28,494	American Financial Group, Inc.		1,105,567
	34,658	Lincoln National Corp.		859,172
	33,473	Marsh & McLennan Cos., Inc.		1,139,086
	31,635	Metlife, Inc.		1,122,726

				6,741,908


		Internet Software & Services — 2.6%
	31,522	Akamai Technologies, Inc.^1,2		1,197,521
	37,040	eBay, Inc.¹		1,788,661

				2,986,182


		IT Services — 4.3%
	19,178	Accenture PLC — Class A		1,292,789
	30,400	Amdocs, Ltd.		1,005,328
	71,605	Genpact, Ltd.		1,260,964
	59,326	Total System Services, Inc.		1,334,242

				4,893,323

See Notes to Financial Statements.

121

THE GLENMEDE FUND, INC.

Large Cap 100 Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Life, Sciences Tools & Services — 1.1%
	21,107	Thermo Fisher Scientific, Inc.	$	1,288,793


		Machinery — 2.7%
	22,944	AGCO Corp.¹		1,044,181
	6,900	Caterpillar, Inc.		585,189
	10,394	Illinois Tool Works, Inc.		637,464
	19,846	Timken Co. (The)		783,719

				3,050,553


		Media — 3.6%
	44,411	Comcast Corp. — Class A		1,665,857
	71,452	Gannett Co., Inc.		1,207,539
	10,906	Scripps Networks Interactive, Inc. — Class A		662,212
	6,628	Time Warner Cable, Inc.		656,901

				4,192,509


		Multi-Utilities — 2.0%
	9,174	DTE Energy Co.		569,705
	10,739	Integrys Energy Group, Inc.		580,336
	37,493	Public Service Enterprise Group, Inc.		1,201,276

				2,351,317


		Office Electronics — 0.8%
	141,448	Xerox Corp.		910,925


		Oil, Gas & Consumable Fuels — 4.9%
	29,118	HollyFrontier Corp.		1,124,828
	20,073	Marathon Petroleum Corp.		1,102,610
	21,616	Murphy Oil Corp.		1,296,960
	46,840	Tesoro Corp.		1,766,337
	13,754	Valero Energy Corp.		400,241

				5,690,976


		Paper & Forest Products — 0.4%
	14,156	International Paper Co.		507,209


		Pharmaceuticals — 3.6%
	24,327	Eli Lilly & Co.		1,183,022
	23,536	Merck & Co., Inc.		1,073,948
	25,970	Mylan, Inc.^1,2		658,080
	47,958	Pfizer, Inc.		1,192,715

				4,107,765

See Notes to Financial Statements.

122

THE GLENMEDE FUND, INC.

Large Cap 100 Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Professional Services — 0.9%
	38,454	Robert Half International, Inc.	$	1,034,028


		Real Estate Investment Trusts — 3.8%
	39,501	Hospitality Properties Trust		913,263
	57,063	Kimco Realty Corp.		1,113,870
	32,393	Liberty Property Trust		1,137,642
	25,075	Regency Centers Corp.		1,204,102

				4,368,877


		Road & Rail — 0.9%
	52,274	CSX Corp.		1,070,049


		Semiconductors & Semiconductor Equipment — 3.9%
	49,814	Applied Materials, Inc.		528,028
	14,058	KLA-Tencor Corp.		653,978
	80,744	Marvell Technology Group, Ltd.		637,070
	23,618	Maxim Integrated Products, Inc.		650,085
	81,517	NVIDIA Corp.^1,2		975,759
	44,842	Skyworks Solutions, Inc.¹		1,049,303

				4,494,223


		Software — 3.0%
	97,444	Activision Blizzard, Inc.		1,061,165
	36,430	Autodesk, Inc.¹		1,159,931
	70,778	Symantec Corp.¹		1,287,452

				3,508,548


		Specialty Retail — 3.5%
	12,346	Bed Bath & Beyond, Inc.¹		712,117
	22,445	Gap, Inc. (The)		801,736
	11,708	PetSmart, Inc.		777,294
	28,644	Ross Stores, Inc.		1,745,852

				4,036,999


		Wireless Telecommunication Services — 1.9%
	44,912	Telephone & Data Systems, Inc.		1,116,962
	27,867	United States Cellular Corp.^1,2		1,030,800

				2,147,762


		TOTAL COMMON STOCKS (Cost $94,432,640)		114,514,155

See Notes to Financial Statements.

123

THE GLENMEDE FUND, INC.

Large Cap 100 Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount					Value


*REPURCHASE AGREEMENT — 0.5%**
$	513,548	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $513,548, due 11/1/12 (collateralized by a FHLMC security with a par value of $492,909, coupon rate of 4.000%, due 8/15/39, market value of $525,399)			$	513,548


		TOTAL REPURCHASE AGREEMENT (Cost $513,548)				513,548



Shares


*INVESTMENT OF SECURITY LENDING COLLATERAL — 6.0%**
	6,957,664	State Street Navigator Securities Lending Prime Portfolio				6,957,664


		TOTAL INVESTMENT OF SECURITY LENDING COLLATERAL (Cost $6,957,664)				6,957,664

TOTAL INVESTMENTS (Cost $101,903,852)³			105.9	%	$	121,985,367
LIABILITIES IN EXCESS OF OTHER ASSETS			(5.9	)		(6,780,873	)

NET ASSETS			100.0	%	$	115,204,494


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Securities or partial securities on loan. See Note 1.
³		Aggregate cost for federal tax purposes was $101,903,852.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

124

THE GLENMEDE FUND, INC.

Large Cap 100 Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Energy Equipment & Services		6.1	%	$	7,051,741
Insurance		5.9			6,741,908
Oil, Gas & Consumable Fuels		4.9			5,690,976
Diversified Financial Services		4.4			5,043,325
Aerospace & Defense		4.3			4,896,357
IT Services		4.3			4,893,323
Semiconductors & Semiconductor Equipment		3.9			4,494,223
Real Estate Investment Trusts		3.8			4,368,877
Commercial Banks		3.7			4,278,449
Media		3.6			4,192,509
Pharmaceuticals		3.6			4,107,765
Specialty Retail		3.5			4,036,999
Biotechnology		3.4			3,968,424
Software		3.0			3,508,548
Beverages		3.0			3,481,541
Computers & Peripherals		3.0			3,463,522
Electric Utilities		3.0			3,412,552
Machinery		2.7			3,050,553
Internet Software & Services		2.6			2,986,182
Chemicals		2.5			2,875,028
Construction & Engineering		2.3			2,695,813
Health Care Providers & Services		2.2			2,585,276
Food Products		2.1			2,433,853
Multi-Utilities		2.0			2,351,317
Wireless Telecommunication Services		1.9			2,147,762
Auto Components		1.8			2,110,742
Communications Equipment		1.6			1,808,765
Hotels, Restaurants & Leisure		1.4			1,639,814
Consumer Finance		1.3			1,465,627
Food & Staples Retailing		1.2			1,397,727
Life, Sciences Tools & Services		1.1			1,288,793
Household Products		1.1			1,222,831
Road & Rail		0.9			1,070,049
Professional Services		0.9			1,034,028
Health Care Equipment & Supplies		0.9			1,007,455

See Notes to Financial Statements.

125

THE GLENMEDE FUND, INC.

Large Cap 100 Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

Office Electronics		0.8	%	$	910,925
Paper & Forest Products		0.4			507,209
Industrial Conglomerates		0.3			293,367

TOTAL COMMON STOCKS		99.4	%	$	114,514,155
REPURCHASE AGREEMENTS		0.5			513,548
INVESTMENTS OF SECURITY LENDING COLLATERAL		6.0			6,957,664

TOTAL INVESTMENTS		105.9	%	$	121,985,367

See Notes to Financial Statements.

126

THE GLENMEDE FUND, INC.

Large Cap Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 99.5%**

		Aerospace & Defense — 2.3%
	15,065	Lockheed Martin Corp.	$	1,411,138
	9,948	United Technologies Corp.		777,536

				2,188,674


		Auto Components — 1.8%
	53,253	Delphi Automotive PLC¹		1,674,274


		Beverages — 1.9%
	41,038	Dr Pepper Snapple Group, Inc.		1,758,478


		Biotechnology — 3.2%
	22,256	Amgen, Inc.		1,926,146
	16,059	Gilead Sciences, Inc.¹		1,078,522

				3,004,668


		Capital Markets — 1.1%
	7,836	Affiliated Managers Group, Inc.¹		991,254


		Chemicals — 3.4%
	7,088	CF Industries Holdings, Inc.		1,454,387
	21,966	Eastman Chemical Co.		1,301,266
	9,668	Rockwood Holdings, Inc.		443,761

				3,199,414


		Computers & Peripherals — 7.4%
	3,746	Apple, Inc.		2,229,244
	70,262	EMC Corp.¹		1,715,798
	67,511	NCR Corp.¹		1,436,634
	58,604	NetApp, Inc.¹		1,576,448

				6,958,124


		Construction & Engineering — 3.1%
	31,828	Chicago Bridge & Iron Co. NV		1,195,141
	30,462	Fluor Corp.		1,701,303

				2,896,444


		Diversified Consumer Services — 0.8%
	42,480	H&R Block, Inc.		751,896


		Diversified Financial Services — 1.2%
	23,027	Moody’s Corp.		1,108,980

See Notes to Financial Statements.

127

THE GLENMEDE FUND, INC.

Large Cap Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Electronic Equipment, Instruments & Components — 0.6%
	33,789	Jabil Circuit, Inc.	$	585,901


		Energy Equipment & Services — 3.6%
	28,033	Cameron International Corp.¹		1,419,591
	26,921	Halliburton Co.		869,279
	22,796	Helmerich & Payne, Inc.		1,089,649

				3,378,519


		Food & Staples Retailing — 3.1%
	31,445	SYSCO Corp.		976,996
	25,008	Wal-Mart Stores, Inc.		1,876,100

				2,853,096


		Food Products — 4.1%
	54,745	Campbell Soup Co.		1,930,856
	65,649	Hormel Foods Corp.		1,938,615

				3,869,471


		Health Care Providers & Services — 3.3%
	24,424	AmerisourceBergen Corp.		963,283
	23,649	Cardinal Health, Inc.		972,683
	12,695	McKesson Corp.		1,184,570

				3,120,536


		Hotels, Restaurants & Leisure — 3.0%
	45,343	Brinker International, Inc.		1,396,564
	38,252	Marriott International, Inc. — Class A		1,395,433

				2,791,997


		Insurance — 2.0%
	54,777	Marsh & McLennan Cos., Inc.		1,864,061


		Internet Software & Services — 4.9%
	61,710	Akamai Technologies, Inc.¹		2,344,363
	46,450	eBay, Inc.¹		2,243,071

				4,587,434

See Notes to Financial Statements.

128

THE GLENMEDE FUND, INC.

Large Cap Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		IT Services — 7.2%
	14,812	Accenture PLC — Class A	$	998,477
	29,215	Cognizant Technology Solutions Corp. — Class A¹		1,947,180
	78,593	Total System Services, Inc.		1,767,556
	14,768	Visa, Inc. — Class A		2,049,208

				6,762,421


		Machinery — 4.6%
	8,388	Cummins, Inc.		784,949
	42,127	Ingersoll-Rand PLC		1,981,233
	18,985	Parker Hannifin Corp.		1,493,360

				4,259,542


		Media — 4.5%
	56,862	Comcast Corp. — Class A		2,132,894
	14,863	DIRECTV¹		759,648
	9,014	McGraw-Hill Cos. (The), Inc.		498,294
	12,645	Scripps Networks Interactive, Inc. — Class A		767,804

				4,158,640


		Multi-line Retail — 1.2%
	9,710	Dollar General Corp.¹		472,100
	15,457	Dollar Tree, Inc.¹		616,271

				1,088,371


		Office Electronics — 1.9%
	50,523	Zebra Technologies Corp. — Class A¹		1,815,292


		Oil, Gas & Consumable Fuels — 1.5%
	39,983	World Fuel Services Corp.		1,387,410


		Pharmaceuticals — 4.5%
	43,320	Eli Lilly & Co.		2,106,652
	84,013	Mylan, Inc.¹		2,128,889

				4,235,541


		Professional Services — 1.8%
	62,454	Robert Half International, Inc.		1,679,388


		Real Estate Investment Trusts — 3.3%
	71,884	Apartment Investment & Management Co. — Class A		1,918,584
	24,836	Regency Centers Corp.		1,192,625

				3,111,209

See Notes to Financial Statements.

129

THE GLENMEDE FUND, INC.

Large Cap Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Road & Rail — 1.9%
	85,366	CSX Corp.	$	1,747,442


		Semiconductors & Semiconductor Equipment — 4.6%
	282,017	LSI Corp.¹		1,931,817
	17,491	Maxim Integrated Products, Inc.		481,440
	81,713	Skyworks Solutions, Inc.¹		1,912,084

				4,325,341


		Software — 5.7%
	59,196	Adobe Systems, Inc.¹		2,012,664
	53,999	Autodesk, Inc.¹		1,719,328
	80,278	Fortinet, Inc.¹		1,554,985

				5,286,977


		Specialty Retail — 3.7%
	8,675	Home Depot, Inc.		532,472
	10,419	PetSmart, Inc.		691,718
	12,814	Ross Stores, Inc.		781,013
	33,729	TJX Cos., Inc. (The)		1,404,138

				3,409,341


		Textiles, Apparel & Luxury Goods — 0.5%
	8,786	Coach, Inc.		492,455


		Tobacco — 1.8%
	40,703	Reynolds American, Inc.		1,694,873


		TOTAL COMMON STOCKS (Cost $82,190,356)		93,037,464

See Notes to Financial Statements.

130

THE GLENMEDE FUND, INC.

Large Cap Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount					Value


*REPURCHASE AGREEMENT — 0.5%**
$	494,951	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $494,951, due 11/1/12, (collateralized by a FHLMC security with a par value of $475,743, coupon rate of 4.000%, due 8/15/39, market value of $507,101)			$	494,951


		TOTAL REPURCHASE AGREEMENT (Cost $494,951)				494,951

TOTAL INVESTMENTS (Cost $82,685,307)²			100.0	%	$	93,532,415
LIABILITIES IN EXCESS OF OTHER ASSETS			(0.0	)		(5,897	)

NET ASSETS			100.0	%	$	93,526,518


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Aggregate cost for federal tax purposes was $82,714,900.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

131

THE GLENMEDE FUND, INC.

Large Cap Growth Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Computers & Peripherals		7.4	%	$	6,958,124
IT Services		7.2			6,762,421
Software		5.7			5,286,977
Internet Software & Services		4.9			4,587,434
Semiconductors & Semiconductor Equipment		4.6			4,325,341
Machinery		4.6			4,259,542
Pharmaceuticals		4.5			4,235,541
Media		4.5			4,158,640
Food Products		4.1			3,869,471
Specialty Retail		3.7			3,409,341
Energy Equipment & Services		3.6			3,378,519
Chemicals		3.4			3,199,414
Health Care Providers & Services		3.3			3,120,536
Real Estate Investment Trusts		3.3			3,111,209
Biotechnology		3.2			3,004,668
Construction & Engineering		3.1			2,896,444
Food & Staples Retailing		3.1			2,853,096
Hotels, Restaurants & Leisure		3.0			2,791,997
Aerospace & Defense		2.3			2,188,674
Insurance		2.0			1,864,061
Office Electronics		1.9			1,815,292
Beverages		1.9			1,758,478
Road & Rail		1.9			1,747,442
Tobacco		1.8			1,694,873
Professional Services		1.8			1,679,388
Auto Components		1.8			1,674,274
Oil, Gas & Consumable Fuels		1.5			1,387,410
Diversified Financial Services		1.2			1,108,980
Multi-line Retail		1.2			1,088,371
Capital Markets		1.1			991,254
Diversified Consumer Services		0.8			751,896
Electronic Equipment, Instruments & Components		0.6			585,901
Textiles, Apparel & Luxury Goods		0.5			492,455

TOTAL COMMON STOCKS		99.5	%	$	93,037,464
REPURCHASE AGREEMENTS		0.5			494,951

TOTAL INVESTMENTS		100.0	%	$	93,532,415

See Notes to Financial Statements.

132

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 96.5%**

		Aerospace & Defense — 4.4%
	4,940	Engility Holdings, Inc.^1,2	$	93,859
	2,420	L-3 Communications Holdings, Inc.		178,596
	2,520	Northrop Grumman Corp.²		173,099
	2,900	Raytheon Co.²		164,024

				609,578


		Airlines — 0.9%
	14,800	Southwest Airlines Co.²		130,536


		Auto Components — 0.8%
	2,060	Delphi Automotive PLC¹		64,766
	880	TRW Automotive Holdings Corp.^1,2		40,929

				105,695


		Automobiles — 0.7%
	8,140	Ford Motor Co.²		90,842


		Biotechnology — 1.2%
	6,500	Myriad Genetics, Inc.¹		170,105


		Capital Markets — 1.9%
	5,380	Medley Capital Corp.²		77,472
	14,980	Prospect Capital Corp.²		177,363

				254,835


		Chemicals — 4.5%
	500	CF Industries Holdings, Inc.		102,595
	2,400	Eastman Chemical Co.		142,176
	4,800	Innospec, Inc.¹		155,424
	1,140	Minerals Technologies, Inc.		81,692
	1,180	PPG Industries, Inc.		138,155

				620,042


		Commercial Banks — 4.2%
	10,580	Associated Banc-Corp²		136,376
	18,920	KeyCorp²		159,307
	5,540	PacWest Bancorp		124,650
	12,520	Umpqua Holdings Corp.²		151,367

				571,700

See Notes to Financial Statements.

133

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Commercial Services & Supplies — 1.9%
	16,120	Steelcase, Inc. — Class A²	$	161,361
	7,720	Sykes Enterprises, Inc.¹		105,147

				266,508


		Communications Equipment — 1.2%
	9,800	Cisco Systems, Inc.²		167,972


		Computers & Peripherals — 2.4%
	340	Apple, Inc.		202,334
	4,620	EMC Corp.¹		112,820
	560	Western Digital Corp.		19,169

				334,323


		Construction & Engineering — 3.2%
	6,120	EMCOR Group, Inc.		196,819
	4,520	KBR, Inc.		125,927
	3,660	URS Corp.²		122,537

				445,283


		Consumer Finance — 2.2%
	2,960	Discover Financial Services²		121,360
	10,400	SLM Corp.²		182,832

				304,192


		Diversified Consumer Services — 1.1%
	10,760	Service Corp. International²		151,070


		Electric Utilities — 2.2%
	4,160	Exelon Corp.		148,845
	6,660	PNM Resources, Inc.²		147,586

				296,431


		Electrical Equipment — 0.6%
	2,440	EnerSys¹		84,131


		Electronic Equipment, Instruments & Components — 1.6%
	5,120	Avnet, Inc.¹		146,688
	4,100	Jabil Circuit, Inc.		71,094

				217,782

See Notes to Financial Statements.

134

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Energy Equipment & Services — 2.7%
	3,940	Halliburton Co.	$	127,223
	1,760	National Oilwell Varco, Inc.		129,712
	1,040	Rowan Cos. PLC^1,2		32,978
	3,680	Superior Energy Services, Inc.¹		74,815

				364,728


		Food & Staples Retailing — 1.5%
	1,920	CVS Caremark Corp.		89,088
	6,880	Safeway, Inc.²		112,213

				201,301


		Food Products — 1.9%
	7,820	Darling International, Inc.^1,2		129,265
	3,340	Hormel Foods Corp.²		98,630
	2,340	Tyson Foods, Inc. — Class A		39,335

				267,230


		Health Care Equipment & Supplies — 0.8%
	3,840	Hill-Rom Holdings, Inc.		107,866


		Health Care Providers & Services — 3.0%
	3,535	Aetna, Inc.²		154,480
	2,740	Cardinal Health, Inc.		112,696
	2,280	WellPoint, Inc.²		139,718

				406,894


		Health Care Technology — 1.0%
	9,740	Omnicell, Inc.¹		142,009


		Hotels, Restaurants & Leisure — 2.8%
	4,440	Brinker International, Inc.²		136,752
	2,640	Cheesecake Factory, Inc. (The)²		87,279
	8,800	Krispy Kreme Doughnuts, Inc.¹		65,384
	6,340	Multimedia Games Holding Co., Inc.^1,2		100,806

				390,221


		Household Durables — 1.1%
	1,980	Snap-On, Inc.²		153,113

See Notes to Financial Statements.

135

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Insurance — 3.5%
	3,660	Allstate Corp. (The)	$	146,327
	4,000	Assurant, Inc.²		151,240
	4,540	Primerica, Inc.		128,300
	2,720	Unum Group		55,162

				481,029


		Internet & Catalog Retail — 1.1%
	7,300	Liberty Media Corp. — Interactive Series A¹		146,000


		Internet Software & Services — 1.4%
	2,680	Akamai Technologies, Inc.^1,2		101,813
	15,840	United Online, Inc.²		84,903

				186,716


		IT Services — 6.1%
	2,500	Accenture PLC — Class A		168,525
	2,120	Amdocs, Ltd.		70,108
	1,340	CACI International, Inc. — Class A¹		67,576
	3,440	Euronet Worldwide, Inc.^1,2		69,798
	9,320	Genpact, Ltd.		164,125
	10,360	SAIC, Inc.²		113,857
	1,300	Visa, Inc. — Class A		180,388

				834,377


		Life Sciences Tools & Services — 1.8%
	1,200	Life Technologies Corp.¹		58,692
	3,140	Thermo Fisher Scientific, Inc.		191,728

				250,420


		Machinery — 3.0%
	3,020	AGCO Corp.¹		137,440
	1,420	Hyster-Yale Materials Handling, Inc.^1,2		58,333
	1,420	Hyster-Yale Materials Handling, Inc. — Class B¹		58,334
	1,420	NACCO Industries, Inc. — Class A²		71,909
	2,220	Timken Co. (The)		87,668

				413,684


		Media — 1.8%
	4,320	CBS Corp. — Class B		139,968
	2,780	Comcast Corp. — Class A		104,278

				244,246

See Notes to Financial Statements.

136

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Metals & Mining — 0.7%
	4,180	Worthington Industries, Inc.	$	90,372


		Multi-line Retail — 1.5%
	1,020	Dillard’s, Inc. — Class A		78,540
	1,500	Dollar Tree, Inc.¹		59,805
	1,720	Macy’s, Inc.		65,480

				203,825


		Multi-Utilities — 1.2%
	4,980	Public Service Enterprise Group, Inc.²		159,559


		Oil, Gas & Consumable Fuels — 7.6%
	1,560	Chevron Corp.		171,928
	4,380	Denbury Resources, Inc.^1,2		67,145
	3,480	HollyFrontier Corp.		134,432
	2,320	Marathon Oil Corp.		69,739
	1,200	Marathon Petroleum Corp.		65,916
	5,960	Tesoro Corp.		224,752
	21,000	Vaalco Energy, Inc.^1,2		171,570
	4,640	Valero Energy Corp.		135,024

				1,040,506


		Paper & Forest Products — 1.5%
	1,100	Domtar Corp.		87,725
	3,417	International Paper Co.		122,431

				210,156


		Personal Products — 0.9%
	2,940	USANA Health Sciences, Inc.¹		126,832


		Professional Services — 0.4%
	4,600	Kelly Services, Inc.²		61,134


		Real Estate Investment Trusts — 8.5%
	5,960	Apartment Investment & Management Co. — Class A²		159,072
	9,160	Associated Estates Realty Corp.		137,308
	10,840	Brandywine Realty Trust²		125,744
	6,260	CBL & Associates Properties, Inc.²		140,036
	7,260	Colonial Properties Trust		157,034
	11,480	Duke Realty Corp.²		166,231
	6,380	Hospitality Properties Trust²		147,506
	25,400	Strategic Hotels & Resorts, Inc.^1,2		139,446

				1,172,377

See Notes to Financial Statements.

137

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Road & Rail — 0.3%
	6,000	Arkansas Best Corp.²	$	48,300


		Semiconductors & Semiconductor Equipment — 1.8%
	15,880	LSI Corp.¹		108,778
	11,120	NVIDIA Corp.^1,2		133,106

				241,884


		Software — 1.0%
	4,260	Synopsys, Inc.¹		137,172


		Specialty Retail — 1.7%
	4,120	Finish Line, Inc. (The) — Class A		85,717
	1,120	Gap, Inc. (The)		40,006
	640	Ross Stores, Inc.²		39,008
	1,540	TJX Cos., Inc. (The)		64,110

				228,841


		Textiles, Apparel & Luxury Goods — 0.4%
	560	PVH Corp.		61,594


		Wireless Telecommunication Services — 0.5%
	2,860	Telephone & Data Systems, Inc.		71,128


		TOTAL COMMON STOCKS (Cost $11,892,542)		13,264,539



Face
Amount


*REPURCHASE AGREEMENT — 2.4%**
$	326,048	With State Street Bank & Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $326,048 due 11/1/12, (collateralized by a FHLMC security with a par value of $313,892, coupon rate of 4.000%, due 8/15/39, market value of $334,582)		326,048


		TOTAL REPURCHASE AGREEMENTS (Cost $326,048)		326,048

See Notes to Financial Statements.

138

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares						Value


*INVESTMENT OF SECURITY LENDING COLLATERAL — 31.1%**
	4,281,947		State Street Navigator Securities Lending Prime Portfolio			$	4,281,947


			TOTAL INVESTMENT OF SECURITY LENDING COLLATERAL (Cost $4,281,947)				4,281,947

TOTAL LONG INVESTMENTS (Cost $16,500,537)				130.0	%	$	17,872,534


*COMMON STOCKS SOLD SHORT — (59.4)%**

			Aerospace & Defense — (1.9)%
	(1,500	)	Honeywell International, Inc.				(91,860	)
	(2,340	)	Rockwell Collins, Inc.				(125,377	)
	(280	)	TransDigm Group, Inc.				(37,299	)

							(254,536	)


			Beverages — (0.3)%
	(690	)	Brown-Forman Corp. — Class B				(44,201	)


			Capital Markets — (2.6)%
	(580	)	BlackRock, Inc.				(110,014	)
	(1,080	)	Eaton Vance Corp.				(30,391	)
	(4,400	)	Stifel Financial Corp.¹				(139,480	)
	(4,660	)	TD Ameritrade Holding Corp.				(73,116	)

							(353,001	)


			Chemicals — (2.5)%
	(920	)	Airgas, Inc.				(81,853	)
	(4,980	)	Balchem Corp.				(173,453	)
	(1,260	)	Ecolab, Inc.				(87,696	)

							(343,002	)


			Commercial Banks — (2.4)%
	(2,200	)	CIT Group, Inc.¹				(81,884	)
	(4,100	)	Hancock Holding Co.				(129,519	)
	(2,340	)	IBERIABANK Corp.				(116,509	)

							(327,912	)


			Communications Equipment — (1.0)%
	(4,600	)	Sycamore Networks, Inc.				(26,588	)
	(2,800	)	Viasat, Inc.¹				(108,752	)

							(135,340	)


			Construction Materials — (0.8)%
	(2,260	)	Vulcan Materials Co.				(103,892	)

See Notes to Financial Statements.

139

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares				Value

*COMMON STOCKS SOLD SHORT — (Continued)**

			Containers & Packaging — (0.5)%
	(1,320	)	AptarGroup, Inc.	$	(67,689	)


			Electrical Equipment — (1.0)%
	(4,220	)	Woodward Governor Co.		(141,370	)


			Electronic Equipment, Instruments & Components — (1.4)%
	(4,020	)	Rofin-Sinar Technologies, Inc.¹		(73,204	)
	(13,240	)	TTM Technologies, Inc.¹		(119,160	)

					(192,364	)


			Energy Equipment & Services — (1.9)%
	(2,960	)	Geospace Technologies Corp.¹		(191,601	)
	(1,300	)	Lufkin Industries, Inc.		(65,013	)

					(256,614	)


			Food Products — (1.0)%
	(13,480	)	Pilgrim’s Pride Corp.¹		(75,892	)
	(940	)	Ralcorp Holdings, Inc.¹		(67,859	)

					(143,751	)


			Gas Utilities — (1.0)%
	(3,020	)	New Jersey Resources Corp.		(134,269	)


			Health Care Equipment & Supplies — (2.9)%
	(1,020	)	Baxter International, Inc.		(63,883	)
	(1,400	)	Edwards Lifesciences Corp.¹		(121,562	)
	(9,100	)	Merit Medical Systems, Inc.¹		(131,404	)
	(7,280	)	NxStage Medical, Inc.¹		(81,536	)

					(398,385	)


			Hotels, Restaurants & Leisure — (3.2)%
	(400	)	Chipotle Mexican Grill, Inc.¹		(101,812	)
	(5,060	)	International Speedway Corp. — Class A		(129,030	)
	(560	)	McDonald’s Corp.		(48,608	)
	(6,460	)	WMS Industries, Inc.¹		(106,138	)
	(420	)	Wynn Resorts, Ltd.		(50,845	)

					(436,433	)


			Household Products — (1.3)%
	(1,180	)	Church & Dwight, Inc.		(59,897	)
	(1,660	)	Clorox Co.		(120,018	)

					(179,915	)

See Notes to Financial Statements.

140

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares				Value

*COMMON STOCKS SOLD SHORT — (Continued)**

			Industrial Conglomerates — (1.2)%
	(1,320	)	3M Co.	$	(115,632	)
	(2,620	)	General Electric Co.		(55,177	)

					(170,809	)


			Insurance — (2.0)%
	(920	)	Enstar Group, Ltd.¹		(92,000	)
	(380	)	Markel Corp.¹		(179,337	)

					(271,337	)


			Internet & Catalog Retail — (1.3)%
	(540	)	Amazon.Com, Inc.¹		(125,723	)
	(100	)	Priceline.com, Inc.¹		(57,377	)

					(183,100	)


			Internet Software & Services — (0.3)%
	(200	)	Equinix, Inc.¹		(36,082	)


			IT Services — (3.2)%
	(300	)	Mastercard, Inc. — Class A		(138,279	)
	(9,240	)	MoneyGram International, Inc.¹		(143,590	)
	(2,280	)	VeriFone Holdings, Inc.¹		(67,579	)
	(1,260	)	WEX, Inc.¹		(92,963	)

					(442,411	)


			Life Sciences Tools & Services — (0.8)%
	(1,300	)	Waters Corp.¹		(106,353	)


			Machinery — (3.4)%
	(1,120	)	CLARCOR, Inc.		(50,669	)
	(2,060	)	Deere & Co.		(176,006	)
	(1,960	)	Graco, Inc.		(94,198	)
	(3,600	)	Pentair, Ltd.		(152,064	)

					(472,937	)


			Media — (0.8)%
	(1,780	)	Morningstar, Inc.		(112,104	)


			Metals & Mining — (2.0)%
	(3,060	)	Allegheny Technologies, Inc.		(80,631	)
	(1,120	)	Compass Minerals International, Inc.		(88,312	)
	(2,860	)	Walter Energy, Inc.		(99,985	)

					(268,928	)

See Notes to Financial Statements.

141

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares				Value

*COMMON STOCKS SOLD SHORT — (Continued)**

			Oil, Gas & Consumable Fuels — (3.5)%
	(5,080	)	Bill Barrett Corp.¹	$	(116,383	)
	(2,380	)	Cabot Oil & Gas Corp.		(111,812	)
	(1,100	)	Noble Energy, Inc.		(104,511	)
	(900	)	Range Resources Corp.		(58,824	)
	(1,780	)	SM Energy Co.		(95,978	)

					(487,508	)


			Pharmaceuticals — (0.7)%
	(1,120	)	Allergan, Inc.		(100,710	)


			Professional Services — (1.4)%
	(1,980	)	Dun & Bradstreet Corp. (The)		(160,459	)
	(340	)	IHS, Inc. — Class A¹		(28,693	)

					(189,152	)


			Real Estate Investment Trusts — (5.4)%
	(1,620	)	American Tower Corp.		(121,970	)
	(1,100	)	AvalonBay Communities, Inc.		(149,116	)
	(7,440	)	BioMed Realty Trust, Inc.		(142,253	)
	(760	)	Camden Property Trust		(49,879	)
	(1,220	)	Digital Realty Trust, Inc.		(74,945	)
	(2,040	)	Kilroy Realty Corp.		(90,596	)
	(1,040	)	National Health Investors, Inc.		(55,546	)
	(2,640	)	UDR, Inc.		(64,073	)

					(748,378	)


			Software — (3.2)%
	(2,900	)	Bottomline Technologies, Inc.¹		(67,860	)
	(5,140	)	Rovi Corp.¹		(69,544	)
	(1,000	)	Salesforce.com, Inc.¹		(145,980	)
	(1,000	)	Ultimate Software Group, Inc.¹		(101,360	)
	(4,200	)	Websense, Inc.¹		(55,524	)

					(440,268	)


			Specialty Retail — (3.7)%
	(3,560	)	Abercrombie & Fitch Co. — Class A		(108,865	)
	(4,720	)	Cato Corp. (The) — Class A		(133,954	)
	(3,820	)	Monro Muffler Brake, Inc.		(129,574	)
	(2,200	)	Tiffany & Co.		(139,084	)

					(511,477	)

See Notes to Financial Statements.

142

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares						Value

*COMMON STOCKS SOLD SHORT — (Continued)**

			Trading Companies & Distributors — (0.8)%
	(1,600	)	Watsco, Inc.			$	(109,360	)


			TOTAL COMMON STOCKS SOLD SHORT (Cost $(8,759,280))				(8,163,588	)

TOTAL SHORT INVESTMENTS (Proceeds $(8,759,280))				(59.4	)%	$	(8,163,588	)

TOTAL INVESTMENTS (Cost $7,741,257)³				70.6	%	$	9,708,946
OTHER ASSETS IN EXCESS OF LIABILITIES				29.4			4,042,618

NET ASSETS				100.0	%	$	13,751,564


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Securities or partial securities on loan. See Note 1.
³		Aggregate cost for federal tax purposes was $7,831,042.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

143

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Long Positions:
Real Estate Investment Trusts		8.5	%	$	1,172,377
Oil, Gas & Consumable Fuels		7.6			1,040,506
IT Services		6.1			834,377
Chemicals		4.5			620,042
Aerospace & Defense		4.4			609,578
Commercial Banks		4.2			571,700
Insurance		3.5			481,029
Construction & Engineering		3.2			445,283
Machinery		3.0			413,684
Health Care Providers & Services		3.0			406,894
Hotels, Restaurants & Leisure		2.8			390,221
Energy Equipment & Services		2.7			364,728
Computers & Peripherals		2.4			334,323
Consumer Finance		2.2			304,192
Electric Utilities		2.2			296,431
Food Products		1.9			267,230
Commercial Services & Supplies		1.9			266,508
Capital Markets		1.9			254,835
Life Sciences Tools & Services		1.8			250,420
Media		1.8			244,246
Semiconductors & Semiconductor Equipment		1.8			241,884
Specialty Retail		1.7			228,841
Electronic Equipment, Instruments & Components		1.6			217,782
Paper & Forest Products		1.5			210,156
Multi-line Retail		1.5			203,825
Food & Staples Retailing		1.5			201,301
Internet Software & Services		1.4			186,716
Biotechnology		1.2			170,105
Communications Equipment		1.2			167,972
Multi-Utilities		1.2			159,559
Household Durables		1.1			153,113
Diversified Consumer Services		1.1			151,070
Internet & Catalog Retail		1.1			146,000
Health Care Technology		1.0			142,009
Software		1.0			137,172
Airlines		0.9			130,536
Personal Products		0.9			126,832
Health Care Equipment & Supplies		0.8			107,866

See Notes to Financial Statements.

144

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

Auto Components		0.8	%	$	105,695
Automobiles		0.7			90,842
Metals & Mining		0.7			90,372
Electrical Equipment		0.6			84,131
Wireless Telecommunication Services		0.5			71,128
Textiles, Apparel & Luxury Goods		0.4			61,594
Professional Services		0.4			61,134
Road & Rail		0.3			48,300
Short Positions:
Internet Software & Services		(0.3	)		(36,082	)
Beverages		(0.3	)		(44,201	)
Containers & Packaging		(0.5	)		(67,689	)
Pharmaceuticals		(0.7	)		(100,710	)
Construction Materials		(0.8	)		(103,892	)
Life Sciences Tools & Services		(0.8	)		(106,353	)
Trading Companies & Distributors		(0.8	)		(109,360	)
Media		(0.8	)		(112,104	)
Gas Utilities		(1.0	)		(134,269	)
Communications Equipment		(1.0	)		(135,340	)
Electrical Equipment		(1.0	)		(141,370	)
Food Products		(1.0	)		(143,751	)
Industrial Conglomerates		(1.2	)		(170,809	)
Household Products		(1.3	)		(179,915	)
Internet & Catalog Retail		(1.3	)		(183,100	)
Professional Services		(1.4	)		(189,152	)
Electronic Equipment, Instruments & Components		(1.4	)		(192,364	)
Aerospace & Defense		(1.9	)		(254,536	)
Energy Equipment & Services		(1.9	)		(256,614	)
Metals & Mining		(2.0	)		(268,928	)
Insurance		(2.0	)		(271,337	)
Commercial Banks		(2.4	)		(327,912	)
Chemicals		(2.5	)		(343,002	)
Capital Markets		(2.6	)		(353,001	)
Health Care Equipment & Supplies		(2.9	)		(398,385	)
Hotels, Restaurants & Leisure		(3.2	)		(436,433	)
Software		(3.2	)		(440,268	)
IT Services		(3.2	)		(442,411	)
Machinery		(3.4	)		(472,937	)

See Notes to Financial Statements.

145

THE GLENMEDE FUND, INC.

Long/Short Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

Oil, Gas & Consumable Fuels		(3.5	)%	$	(487,508	)
Specialty Retail		(3.7	)		(511,477	)
Real Estate Investment Trusts		(5.4	)		(748,378	)

TOTAL COMMON STOCKS		37.1	%	$	5,100,951
REPURCHASE AGREEMENT		2.4			326,048
INVESTMENT OF SECURITY LENDING COLLATERAL		31.1			4,281,947

TOTAL INVESTMENTS		70.6	%	$	9,708,946

See Notes to Financial Statements.

146

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 127.8%**

		Aerospace & Defense — 6.2%
	1,583	Engility Holdings, Inc.^1,2	$	30,077
	9,080	General Dynamics Corp.		618,166
	9,500	L-3 Communications Holdings, Inc.		701,100
	11,020	Northrop Grumman Corp.²		756,964
	11,380	Raytheon Co.²		643,653

				2,749,960


		Airlines — 1.0%
	51,060	Southwest Airlines Co.²		450,349


		Auto Components — 1.0%
	24,280	Standard Motor Products, Inc.²		455,978


		Automobiles — 1.4%
	56,720	Ford Motor Co.²		632,995


		Beverages — 1.3%
	18,920	Coca-Cola Enterprises, Inc.		594,845


		Biotechnology — 1.3%
	21,570	Myriad Genetics, Inc.^1,2		564,487


		Capital Markets — 0.5%
	19,960	Prospect Capital Corp.²		236,326


		Chemicals — 3.8%
	3,320	Ashland, Inc.		236,218
	1,320	CF Industries Holdings, Inc.		270,851
	8,160	Eastman Chemical Co.		483,398
	3,180	Minerals Technologies, Inc.		227,879
	3,980	PPG Industries, Inc.		465,978

				1,684,324


		Commercial Banks — 2.9%
	16,960	BB&T Corp.		490,992
	22,840	Fulton Financial Corp.²		222,005
	66,868	KeyCorp²		563,028

				1,276,025


		Commercial Services & Supplies — 1.3%
	41,640	Sykes Enterprises, Inc.¹		567,137

See Notes to Financial Statements.

147

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Communications Equipment — 1.0%
	11,880	Cisco Systems, Inc.	$	203,623
	13,480	Juniper Networks, Inc.^1,2		223,364

				426,987


		Computers & Peripherals — 3.0%
	1,330	Apple, Inc.		791,483
	22,240	EMC Corp.¹		543,101

				1,334,584


		Construction & Engineering — 3.5%
	20,960	EMCOR Group, Inc.		674,074
	17,300	KBR, Inc.		481,978
	12,540	URS Corp.²		419,839

				1,575,891


		Consumer Finance — 2.7%
	17,580	Discover Financial Services		720,780
	28,180	SLM Corp.²		495,404

				1,216,184


		Diversified Financial Services — 1.0%
	10,800	JPMorgan Chase & Co.		450,144


		Electric Utilities — 3.8%
	2,660	Entergy Corp.		193,063
	13,060	Exelon Corp.		467,287
	37,840	PNM Resources, Inc.²		838,534
	7,160	PPL Corp.		211,793

				1,710,677


		Electronic Equipment, Instruments & Components — 1.0%
	26,580	Jabil Circuit, Inc.		460,897


		Energy Equipment & Services — 4.3%
	15,460	Halliburton Co.		499,204
	7,840	National Oilwell Varco, Inc.		577,808
	5,800	Schlumberger, Ltd.²		403,274
	20,840	Superior Energy Services, Inc.¹		423,677

				1,903,963

See Notes to Financial Statements.

148

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares				Value

*COMMON STOCKS — (Continued)**

		Food & Staples Retailing — 3.2%
	9,900	CVS Caremark Corp.		$	459,360
	18,980	Kroger Co. (The)			478,675
	15,240	SYSCO Corp.²			473,507

					1,411,542


		Food Products — 3.9%
	21,460	Campbell Soup Co.²			756,894
	16,080	ConAgra Foods, Inc.			447,667
	30,980	Tyson Foods, Inc. — Class A			520,774

					1,725,335
			��

		Health Care Providers & Services — 3.9%
	13,470	Aetna, Inc.			588,639
	31,220	Amedisys, Inc.¹			344,669
	5,660	Health Net, Inc.¹			121,803
	10,880	WellPoint, Inc.²			666,726

					1,721,837


		Hotels, Restaurants & Leisure — 3.4%
	4,020	Brinker International, Inc.²			123,816
	16,340	Cheesecake Factory, Inc. (The)²			540,200
	8,640	Multimedia Games Holding Co., Inc.^1,2			137,376
	13,780	Wyndham Worldwide Corp.			694,512

					1,495,904


		Household Durables — 1.3%
	13,620	Harman International Industries, Inc.			571,087


		Insurance — 7.8%
	11,860	Allstate Corp. (The)			474,163
	4,320	Aspen Insurance Holdings, Ltd.			139,752
	16,960	Assurant, Inc.			641,257
	20,180	CNA Financial Corp.²			592,888
	32,560	Horace Mann Educators Corp.			625,478
	8,740	Torchmark Corp.²			442,157
	28,200	Unum Group²			571,896

					3,487,591

See Notes to Financial Statements.

149

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Internet Software & Services — 4.5%
	18,800	Akamai Technologies, Inc.^1,2	$	714,212
	13,220	eBay, Inc.^1,2		638,394
	117,440	United Online, Inc.²		629,478

				1,982,084


		IT Services — 5.2%
	11,100	Accenture PLC — Class A		748,251
	13,560	Genpact, Ltd.		238,791
	18,760	Heartland Payment Systems, Inc.²		489,261
	6,180	Visa, Inc. — Class A		857,537

				2,333,840


		Life Sciences Tools & Services — 2.9%
	12,960	Life Technologies Corp.¹		633,874
	10,940	Thermo Fisher Scientific, Inc.		667,996

				1,301,870


		Machinery — 5.5%
	14,240	AGCO Corp.¹		648,062
	9,380	Barnes Group, Inc.		214,614
	5,260	Hyster-Yale Materials Handling, Inc.¹		216,081
	5,260	Hyster-Yale Materials Handling, Inc. — Class B¹		216,081
	11,640	NACCO Industries, Inc. — Class A²		589,450
	14,820	Timken Co. (The)		585,242

				2,469,530


		Media — 4.1%
	18,600	CBS Corp. — Class B		602,640
	13,440	Comcast Corp. — Class A		504,135
	8,900	DIRECTV^1,2		454,879
	16,380	Gannett Co., Inc.²		276,822

				1,838,476


		Metals & Mining — 0.6%
	12,940	Worthington Industries, Inc.²		279,763


		Multi-line Retail — 2.1%
	12,750	Dollar Tree, Inc.¹		508,343
	11,260	Macy’s, Inc.		428,668

				937,011

See Notes to Financial Statements.

150

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Multi-Utilities — 1.8%
	3,000	DTE Energy Co.	$	186,300
	6,300	NorthWestern Corp.²		225,603
	11,590	Public Service Enterprise Group, Inc.²		371,344

				783,247


		Office Electronics — 1.0%
	71,780	Xerox Corp.		462,263


		Oil, Gas & Consumable Fuels — 7.9%
	5,805	Chevron Corp.		639,769
	3,640	HollyFrontier Corp.²		140,613
	22,280	Marathon Oil Corp.		669,737
	4,780	Marathon Petroleum Corp.		262,565
	12,600	Murphy Oil Corp.		756,000
	18,940	Tesoro Corp.²		714,228
	11,100	Valero Energy Corp.		323,010

				3,505,922


		Paper & Forest Products — 2.2%
	6,560	Domtar Corp.		523,160
	13,120	International Paper Co.²		470,090

				993,250


		Pharmaceuticals — 2.5%
	17,160	Forest Laboratories, Inc.^1,2		578,464
	24,060	Medicines Co. (The)¹		527,395

				1,105,859


		Professional Services — 1.1%
	37,200	Kelly Services, Inc.²		494,388


		Real Estate Investment Trusts — 10.9%
	21,900	Apartment Investment & Management Co. — Class A²		584,511
	48,640	Brandywine Realty Trust		564,224
	40,780	CBL & Associates Properties, Inc.²		912,248
	33,160	Colonial Properties Trust		717,251
	35,360	Duke Realty Corp.²		512,013
	26,040	Hospitality Properties Trust²		602,045
	16,560	Liberty Property Trust		581,587
	72,540	Strategic Hotels & Resorts, Inc.^1,2		398,245

				4,872,124

See Notes to Financial Statements.

151

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares					Value

*COMMON STOCKS — (Continued)**

		Road & Rail — 1.4%
	28,340	Saia, Inc.¹			$	640,484


		Semiconductors & Semiconductor Equipment — 4.8%
	40,540	Applied Materials, Inc.				429,724
	91,240	LSI Corp.¹				624,994
	49,640	Marvell Technology Group, Ltd.				391,660
	40,080	NVIDIA Corp.¹				479,757
	9,720	Skyworks Solutions, Inc.¹				227,448

						2,153,583


		Specialty Retail — 3.2%
	19,620	Finish Line, Inc. (The) — Class A				408,194
	19,240	Gap, Inc. (The)				687,253
	5,060	PetSmart, Inc.²				335,933

						1,431,380


		Wireless Telecommunication Services — 1.6%
	28,560	Telephone & Data Systems, Inc.²				710,287


		TOTAL COMMON STOCKS (Cost $50,249,047)				57,000,410



Face
Amount


*REPURCHASE AGREEMENT — 1.0%**
$	462,827	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $462,827, due 11/1/12 (collateralized by a FHLMC security with a par value of $443,863, coupon rate of 4.000%, due 8/15/39, market value of $473,120)				462,827


		TOTAL REPURCHASE AGREEMENT (Cost $462,827)				462,827



Shares


*INVESTMENT OF SECURITY LENDING COLLATERAL — 2.5%**
	1,133,200	State Street Navigator Securities Lending Portfolio				1,133,200


		TOTAL INVESTMENT OF SECURITY LENDING COLLATERAL (Cost $1,133,200)				1,133,200

TOTAL LONG INVESTMENTS (Cost $51,845,074)			131.3	%	$	58,596,437

See Notes to Financial Statements.

152

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares				Value

*COMMON STOCKS SOLD SHORT — (28.7)%**

			Aerospace & Defense — (0.7)%
	(2,900	)	Rockwell Collins, Inc.	$	(155,382	)
	(1,320	)	TransDigm Group, Inc.		(175,837	)

					(331,219	)


			Air Freight & Logistics — (0.7)%
	(2,860	)	CH Robinson Worldwide, Inc.		(172,544	)
	(3,360	)	Expeditors International of Washington, Inc.		(123,009	)

					(295,553	)


			Auto Components — (0.6)%
	(6,180	)	Gentex Corp/MI		(106,420	)
	(5,820	)	Johnson Controls, Inc.		(149,865	)

					(256,285	)


			Beverages — (0.4)%
	(3,060	)	Brown-Forman Corp. — Class B		(196,024	)


			Chemicals — (1.4)%
	(2,180	)	Airgas, Inc.		(193,954	)
	(5,920	)	Balchem Corp.		(206,194	)
	(1,960	)	Praxair, Inc.		(208,172	)

					(608,320	)


			Commercial Banks — (0.4)%
	(3,940	)	IBERIABANK Corp.		(196,173	)


			Commercial Services & Supplies — (1.1)%
	(10,860	)	Knoll, Inc.		(156,275	)
	(7,680	)	Rollins, Inc.		(174,106	)
	(1,840	)	Stericycle, Inc.¹		(174,358	)

					(504,739	)


			Communications Equipment — (0.5)%
	(5,580	)	Sycamore Networks, Inc.		(32,252	)
	(4,620	)	Viasat, Inc.¹		(179,441	)

					(211,693	)


			Construction Materials — (0.5)%
	(5,180	)	Vulcan Materials Co.		(238,125	)

See Notes to Financial Statements.

153

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares				Value

*COMMON STOCKS SOLD SHORT — (Continued)**

			Diversified Consumer Services — (0.6)%
	(6,140	)	Matthews International Corp. — Class A	$	(176,648	)
	(7,380	)	Universal Technical Institute, Inc.		(94,611	)

					(271,259	)


			Diversified Telecommunication Services — (0.3)%
	(23,980	)	Cincinnati Bell, Inc.¹		(124,936	)


			Electronic Equipment, Instruments & Components — (0.3)%
	(7,560	)	Rofin-Sinar Technologies, Inc.¹		(137,668	)


			Energy Equipment & Services — (0.3)%
	(2,740	)	Lufkin Industries, Inc.		(137,027	)


			Food & Staples Retailing — (0.4)%
	(3,080	)	United Natural Foods, Inc.¹		(163,979	)


			Gas Utilities — (0.7)%
	(4,040	)	New Jersey Resources Corp.		(179,618	)
	(3,060	)	South Jersey Industries, Inc.		(154,806	)

					(334,424	)


			Health Care Equipment & Supplies — (0.6)%
	(3,680	)	Hospira, Inc.¹		(112,939	)
	(13,700	)	NxStage Medical, Inc.¹		(153,440	)

					(266,379	)


			Hotels, Restaurants & Leisure — (1.2)%
	(1,740	)	Buffalo Wild Wings, Inc.¹		(132,153	)
	(3,036	)	International Speedway Corp. — Class A		(77,418	)
	(2,000	)	McDonald’s Corp.		(173,600	)
	(1,380	)	Wynn Resorts, Ltd.		(167,063	)

					(550,234	)


			Household Durables — (0.4)%
	(200	)	NVR, Inc.¹		(180,748	)


			Household Products — (0.5)%
	(2,500	)	Church & Dwight, Inc.		(126,900	)
	(1,360	)	Clorox Co.		(98,328	)

					(225,228	)

See Notes to Financial Statements.

154

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares				Value

*COMMON STOCKS SOLD SHORT — (Continued)**

			Industrial Conglomerates — (0.3)%
	(5,160	)	Raven Industries, Inc.	$	(140,816	)


			Insurance — (1.2)%
	(1,700	)	Enstar Group, Ltd.¹		(170,000	)
	(520	)	Markel Corp.¹		(245,409	)
	(1,980	)	RLI Corp.		(134,996	)

					(550,405	)


			Internet & Catalog Retail — (0.7)%
	(540	)	Amazon.Com, Inc.¹		(125,723	)
	(300	)	Priceline.com, Inc.¹		(172,131	)

					(297,854	)


			Internet Software & Services — (0.4)%
	(900	)	Equinix, Inc.¹		(162,369	)


			Leisure Equipment & Products — (0.3)%
	(3,140	)	Hasbro, Inc.		(113,009	)


			Machinery — (1.8)%
	(3,600	)	CLARCOR, Inc.		(162,864	)
	(2,340	)	Deere & Co.		(199,930	)
	(3,520	)	Graco, Inc.		(169,171	)
	(6,140	)	Kaydon Corp.		(137,290	)
	(1,900	)	Stanley Black & Decker, Inc.		(131,670	)

					(800,925	)


			Media — (0.7)%
	(2,720	)	Morningstar, Inc.		(171,306	)
	(2,860	)	Viacom, Inc. — Class B		(146,632	)

					(317,938	)


			Metals & Mining — (0.7)%
	(4,580	)	Allegheny Technologies, Inc.		(120,683	)
	(2,480	)	Compass Minerals International, Inc.		(195,548	)

					(316,231	)


			Multi-Utilities — (0.4)%
	(3,480	)	Dominion Resources, Inc.		(183,674	)


			Oil, Gas & Consumable Fuels — (0.5)%
	(1,920	)	EOG Resources, Inc.		(223,661	)

See Notes to Financial Statements.

155

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares				Value

*COMMON STOCKS SOLD SHORT — (Continued)**

			Professional Services — (0.8)%
	(3,680	)	Advisory Board Co. (The)¹	$	(174,800	)
	(2,480	)	Dun & Bradstreet Corp. (The)		(200,979	)

					(375,779	)


			Real Estate Investment Trusts — (5.0)%
	(2,280	)	Alexandria Real Estate Equities, Inc.		(160,580	)
	(9,680	)	BioMed Realty Trust, Inc.		(185,081	)
	(2,660	)	Camden Property Trust		(174,576	)
	(10,620	)	CubeSmart		(139,334	)
	(2,540	)	Digital Realty Trust, Inc.		(156,032	)
	(8,340	)	Equity One, Inc.		(174,306	)
	(3,000	)	Equity Residential Properties Trust		(172,230	)
	(1,180	)	Essex Property Trust, Inc.		(177,000	)
	(10,180	)	First Potomac Realty Trust		(121,244	)
	(20,680	)	Franklin Street Properties Corp.		(235,959	)
	(4,660	)	Kilroy Realty Corp.		(206,951	)
	(3,500	)	National Health Investors, Inc.		(186,935	)
	(5,540	)	UDR, Inc.		(134,456	)

					(2,224,684	)


			Semiconductors & Semiconductor Equipment — (0.6)%
	(3,220	)	Cymer, Inc.¹		(256,602	)


			Software — (0.6)%
	(5,780	)	Rovi Corp.¹		(78,203	)
	(1,200	)	Salesforce.com, Inc.¹		(175,176	)

					(253,379	)


			Specialty Retail — (1.5)%
	(5,600	)	Abercrombie & Fitch Co. — Class A		(171,248	)
	(460	)	Autozone, Inc.¹		(172,500	)
	(4,980	)	Monro Muffler Brake, Inc.		(168,922	)
	(2,200	)	Tiffany & Co.		(139,084	)

					(651,754	)


			Textiles, Apparel & Luxury Goods — (0.8)%
	(1,980	)	Nike, Inc. — Class B		(180,932	)
	(1,160	)	Ralph Lauren Corp.		(178,281	)

					(359,213	)


			Trading Companies & Distributors — (0.4)%
	(2,300	)	Watsco, Inc.		(157,205	)

See Notes to Financial Statements.

156

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares						Value

*COMMON STOCKS SOLD SHORT — (Continued)**

			Wireless Telecommunication Services — (0.4)%
	(2,740	)	SBA Communications Corp.¹			$	(182,566	)


			TOTAL COMMON STOCKS SOLD SHORT (Cost $(13,654,568))				(12,798,077	)

TOTAL SHORT INVESTMENTS (Proceeds $(13,654,568))				(28.7	)%	$	(12,798,077	)

TOTAL INVESTMENTS (Cost $38,190,506)³				102.6	%	$	45,798,360
LIABILITIES IN EXCESS OF OTHER ASSETS				(2.6	)		(1,179,090	)

NET ASSETS				100.0	%	$	44,619,270


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Securities or partial securities on loan. See Note 1.
³		Aggregate cost for federal tax purposes was $38,484,856.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

157

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Long Positions:
Real Estate Investment Trusts		10.9	%	$	4,872,124
Oil, Gas & Consumable Fuels		7.9			3,505,922
Insurance		7.8			3,487,591
Aerospace & Defense		6.2			2,749,960
Machinery		5.5			2,469,530
IT Services		5.2			2,333,840
Semiconductors & Semiconductor Equipment		4.8			2,153,583
Internet Software & Services		4.5			1,982,084
Energy Equipment & Services		4.3			1,903,963
Media		4.1			1,838,476
Food Products		3.9			1,725,335
Health Care Providers & Services		3.9			1,721,837
Electric Utilities		3.8			1,710,677
Chemicals		3.8			1,684,324
Construction & Engineering		3.5			1,575,891
Hotels, Restaurants & Leisure		3.4			1,495,904
Specialty Retail		3.2			1,431,380
Food & Staples Retailing		3.2			1,411,542
Computers & Peripherals		3.0			1,334,584
Life Sciences Tools & Services		2.9			1,301,870
Commercial Banks		2.9			1,276,025
Consumer Finance		2.7			1,216,184
Pharmaceuticals		2.5			1,105,859
Paper & Forest Products		2.2			993,250
Multi-line Retail		2.1			937,011
Multi-Utilities		1.8			783,247
Wireless Telecommunication Services		1.6			710,287
Road & Rail		1.4			640,484
Automobiles		1.4			632,995
Beverages		1.3			594,845
Household Durables		1.3			571,087
Commercial Services & Supplies		1.3			567,137
Biotechnology		1.3			564,487
Professional Services		1.1			494,388
Office Electronics		1.0			462,263
Electronic Equipment, Instruments & Components		1.0			460,897
Auto Components		1.0			455,978
Airlines		1.0			450,349

See Notes to Financial Statements.

158

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

Diversified Financial Services		1.0	%	$	450,144
Communications Equipment		1.0			426,987
Metals & Mining		0.6			279,763
Capital Markets		0.5			236,326
Short Positions:
Leisure Equipment & Products		(0.3	)		(113,009	)
Diversified Telecommunication Services		(0.3	)		(124,936	)
Energy Equipment & Services		(0.3	)		(137,027	)
Electronic Equipment, Instruments & Components		(0.3	)		(137,668	)
Industrial Conglomerates		(0.3	)		(140,816	)
Trading Companies & Distributors		(0.4	)		(157,205	)
Internet Software & Services		(0.4	)		(162,369	)
Food & Staples Retailing		(0.4	)		(163,979	)
Household Durables		(0.4	)		(180,748	)
Wireless Telecommunication Services		(0.4	)		(182,566	)
Multi-Utilities		(0.4	)		(183,674	)
Beverages		(0.4	)		(196,024	)
Commercial Banks		(0.4	)		(196,173	)
Communications Equipment		(0.5	)		(211,693	)
Oil, Gas & Consumable Fuels		(0.5	)		(223,661	)
Household Products		(0.5	)		(225,228	)
Construction Materials		(0.5	)		(238,125	)
Software		(0.6	)		(253,379	)
Auto Components		(0.6	)		(256,285	)
Semiconductors & Semiconductor Equipment		(0.6	)		(256,602	)
Health Care Equipment & Supplies		(0.6	)		(266,379	)
Diversified Consumer Services		(0.6	)		(271,259	)
Air Freight & Logistics		(0.7	)		(295,553	)
Internet & Catalog Retail		(0.7	)		(297,854	)
Metals & Mining		(0.7	)		(316,231	)
Media		(0.7	)		(317,938	)
Aerospace & Defense		(0.7	)		(331,219	)
Gas Utilities		(0.7	)		(334,424	)
Textiles, Apparel & Luxury Goods		(0.8	)		(359,213	)
Professional Services		(0.8	)		(375,779	)
Commercial Services & Supplies		(1.1	)		(504,739	)
Hotels, Restaurants & Leisure		(1.2	)		(550,234	)
Insurance		(1.2	)		(550,405	)
Chemicals		(1.4	)		(608,320	)

See Notes to Financial Statements.

159

THE GLENMEDE FUND, INC.

Total Market Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

Specialty Retail		(1.5	)%	$	(651,754	)
Machinery		(1.8	)		(800,925	)
Real Estate Investment Trusts		(5.0	)		(2,224,684	)

TOTAL COMMON STOCKS		99.1	%	$	44,202,333
REPURCHASE AGREEMENT		1.0			462,827
INVESTMENT OF SECURITY LENDING COLLATERAL		2.5			1,133,200

TOTAL INVESTMENTS		102.6	%	$	45,798,360

See Notes to Financial Statements.

160

THE GLENMEDE FUND, INC.

Secured Options Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares					Value


*EXCHANGE-TRADED FUNDS — 2.0%**
	25,500	SPDR S&P 500 ETF Trust			$	3,600,090
	60,000	Vanguard S&P 500 ETF				3,877,800


		TOTAL EXCHANGE-TRADED FUNDS (Cost $6,865,843)				7,477,890


PURCHASED OPTIONS — 66.7%

		CALLS — 60.6%
	250,000	S&P 500 Index with Barclays Capital PLC, Exercise Price $500, Expires 11/17/2012				227,262,500


		PUTS — 6.1%
	250,000	S&P 500 Index with Barclays Capital PLC, Exercise Price $1500, Expires 11/17/2012				22,787,500


		TOTAL PURCHASED OPTIONS (Cost $250,465,146)				250,050,000



Face
Amount


*REPURCHASE AGREEMENT — 7.8%**
$	29,411,404	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $29,411,412, due 11/1/12, (collateralized by a FHLMC security with a par value of $28,144,868, coupon rate of 4.000%, due 8/15/39, market value of $30,000,009)				29,411,404


		TOTAL REPURCHASE AGREEMENT (Cost $29,411,404)				29,411,404

TOTAL INVESTMENTS (Cost $286,742,393)¹			76.5	%	$	286,939,294
OTHER ASSETS IN EXCESS OF LIABILITIES			23.5			88,235,313

NET ASSETS²			100.0	%	$	375,174,607


*		Percentages indicated are based on net assets.
¹		Aggregate cost for federal tax purposes was $286,327,247.
²		Cash in the amount of $100,675,000 is pledged as collateral to secure the open written put options contracts.
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

161

THE GLENMEDE FUND, INC.

Secured Options Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Name of Issuer,
Title of Issuer and	Number of
Counterparty	Contracts		Value

WRITTEN OPTIONS
CALLS:
S&P 500 Index
expires November 2012 exercise price $1,500 Barclays Capital PLC		2,500	$	(125,000	)

TOTAL WRITTEN CALL OPTIONS (Premiums Received $(547,427))			$	(125,000	)


PUTS:
S&P 500 Index
expires November 2012 exercise price $1,450 Barclays Capital PLC		2,330		(10,519,950	)
S&P 500 Index
expires November 2012 exercise price $1,475 Barclays Capital PLC		250		(1,678,750	)

TOTAL WRITTEN PUT OPTIONS (Premiums Received $(5,988,505))			$	(12,198,700	)

TOTAL WRITTEN OPTIONS (Premiums Received $(6,535,932))			$	(12,323,700	)

See Notes to Financial Statements.

162

THE GLENMEDE FUND, INC.

Secured Options Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

SECTOR DIVERSIFICATION

On October 31, 2012, sector diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

SECTOR:
Purchased Options		66.7	%	$	250,050,000
Exchange-Traded Funds		2.0			7,477,890

TOTAL		68.7	%	$	257,527,890
REPURCHASE AGREEMENTS		7.8			29,411,404

TOTAL INVESTMENTS		76.5	%	$	286,939,294

See Notes to Financial Statements.

163

THE GLENMEDE FUND, INC.

International Secured Options Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares					Value


EXCHANGE-TRADED FUNDS — 9.8%
	28,800	iShares MSCI EAFE Index Fund			$	1,542,816
	16,000	Vanguard MSCI EAFE ETF				531,680


		TOTAL EXCHANGE-TRADED FUNDS (Cost $2,065,053)				2,074,496



Face
Amount


*REPURCHASE AGREEMENT — 3.4%**
$	702,599	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $702,599, due 11/1/12, (collateralized by a FHLMC security with a par value of $674,378, coupon rate of 4.000%, due 8/15/39, market value of $718,829)				702,599


		TOTAL REPURCHASE AGREEMENT (Cost $702,599)				702,599

TOTAL INVESTMENTS (Cost $2,767,652)¹			13.2	%	$	2,777,095
OTHER ASSETS IN EXCESS OF LIABILITIES			86.8			18,337,498

NET ASSETS²			100.0	%	$	21,114,593


*		Percentages indicated are based on net assets.
¹		Aggregate cost for federal tax purposes was $2,767,652.
²		Cash in the amount of $8,339,100 is pledged as collateral to secure the open written put options contracts.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

164

THE GLENMEDE FUND, INC.

International Secured Options Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Name of Issuer,
Title of Issuer and	Number of
Counterparty	Contracts		Value

WRITTEN OPTIONS
CALLS:
iShares MSCI EAFE Index Fund
expires November 2012 exercise price $55 Barclays Capital PLC		288	$	(9,504	)

TOTAL WRITTEN CALL OPTIONS (Premiums Received $(20,871))			$	(9,504	)


PUTS:
iShares MSCI EAFE Index Fund
expires November 2012 exercise price $55 Barclays Capital PLC		2,844		(494,856	)
iShares MSCI EAFE Index Fund
expires November 2012 exercise price $56 Barclays Capital PLC		400		(100,787	)

TOTAL WRITTEN PUT OPTIONS (Premiums Received $(611,675))			$	(595,643	)

TOTAL WRITTEN OPTIONS (Premiums Received $(632,546))			$	(605,147	)

See Notes to Financial Statements.

165

THE GLENMEDE FUND, INC.

International Secured Options Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

SECTOR DIVERSIFICATION

On October 31, 2012, sector diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

SECTOR:
Exchange-Traded Funds		9.8	%	$	2,074,496

TOTAL		9.8	%	$	2,074,496
REPURCHASE AGREEMENTS		3.4			702,599

TOTAL INVESTMENTS		13.2	%	$	2,777,095

See Notes to Financial Statements.

166

THE GLENMEDE FUND, INC.

International Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 98.8%**

		United Kingdom — 26.4%
	436,700	Aviva PLC	$	2,335,456
	447,727	Barclays PLC		1,643,731
	83,719	BG Group PLC		1,550,289
	163,998	BHP Billiton PLC		5,254,658
	649,045	BP Amoco PLC		4,643,106
	326,400	Britvic PLC		1,892,006
	358,282	Centrica PLC		1,873,873
	447,536	HSBC Holdings PLC		4,396,820
	329,200	Premier Oil PLC¹		1,863,081
	229,202	Prudential PLC		3,138,385
	81,780	Rio Tinto PLC		4,097,083
	127,470	Royal Dutch Shell PLC		4,505,959
	169,582	Smith & Nephew PLC		1,792,491
	525,520	Wm Morrison Supermarkets PLC		2,271,946

				41,258,884


		Germany — 13.7%
	20,227	Allianz AG		2,507,939
	41,112	BASF SE		3,406,657
	10,000	Bayer AG		870,883
	108,398	Deutsche Lufthansa AG		1,656,495
	23,977	GEA Group AG		748,663
	34,352	Hannover Rueckversicherung AG		2,416,389
	69,488	Metro AG		2,001,735
	29,982	Siemens AG Reg.		3,013,294
	149,166	Telefonica Deutschland Holding AG¹		1,138,588
	18,386	Volkswagen AG		3,584,183

				21,344,826


		Japan — 12.2%
	357,300	Chuo Mitsui Trust Holdings, Inc.		1,083,134
	48,800	Dena Co, Ltd.²		1,522,746
	23,000	Ibiden Co., Ltd.		289,553
	109,800	JSR Corp.²		1,881,578
	77,200	Komatsu, Ltd.		1,616,916
	112,100	Kuraray Co., Ltd.		1,301,725
	81,300	Mitsubishi Corp.		1,451,240
	210,000	Mitsubishi Electric Corp.		1,567,832
	426,700	Mitsubishi UFJ Financial Group, Inc.		1,929,584
	222,400	Nissan Motor Co., Ltd.		1,860,995

See Notes to Financial Statements.

167

THE GLENMEDE FUND, INC.

International Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Japan — (Continued)

	89,400	NKSJ Holdings, Inc.²	$	1,629,425
	61,900	Nomura Research Institute, Ltd.		1,314,299
	413,000	Toshiba Corp.		1,531,354

				18,980,381


		France — 8.4%
	53,764	BNP Paribas		2,704,520
	15,634	Cap Gemini SA		657,162
	12,042	Casino Guichard Perrachon		1,051,683
	58,119	Compagnie de Saint-Gobain		2,048,247
	93,029	GDF Suez		2,134,860
	42,271	Sanofi-Aventis		3,715,826
	41,772	Vivendi		854,643

				13,166,941


		Switzerland — 7.1%
	125,910	Credit Suisse Group AG		2,918,927
	16,395	Lonza Group AG¹		831,105
	34,664	Novartis AG		2,086,242
	17,141	Roche Holding AG		3,296,417
	7,981	Zurich Financial Services AG		1,966,756

				11,099,447


		Netherlands — 5.3%
	344,841	ING Groep N.V., ADR¹		3,046,516
	97,615	Koninklijke Ahold N.V.		1,242,842
	187,800	Koninklijke KPN N.V.		1,185,683
	204,908	Reed Elsevier N.V.		2,752,855

				8,227,896


		Australia — 4.7%
	593,450	Downer EDI, Ltd.¹		2,211,550
	85,373	Iluka Resources, Ltd.²		879,124
	1,280,988	Mount Gibson Iron, Ltd.		937,459
	62,580	National Australia Bank, Ltd.		1,675,348
	351,014	Toll Holdings, Ltd.²		1,617,803

				7,321,284

See Notes to Financial Statements.

168

THE GLENMEDE FUND, INC.

International Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares				Value

*COMMON STOCKS — (Continued)**

			South Korea — 4.2%
	24,400		Kia Motors Corp.	$	1,355,804
	5,681		Lotte Shopping Co, Ltd.		1,758,058
	21,903		POSCO, ADR		1,716,757
	1,463		Samsung Electronics Co., Ltd		1,757,317

					6,587,936


			Norway — 3.1%
	20,347		Seadrill, Ltd.		823,687
	79,250		StatoilHydro ASA		1,958,558
	42,300		Telenor ASA		831,710
	35,464	��	TGS Nopec Geophysical Co. ASA		1,206,745

					4,820,700


			Brazil — 2.3%
	142,950		Banco do Brasil SA, ADR		1,552,437
	93,939		Petroleo Brasileiro SA, Sponsored ADR		1,992,446

					3,544,883


			Israel — 1.8%
	70,700		Teva Pharmaceutical Industries, Ltd., Sponsored ADR		2,857,694


			China — 1.8%
	701,500		CNOOC, Ltd.		1,455,490
	920,000		COSCO Pacific, Ltd.		1,348,533

					2,804,023


			Mexico — 1.4%
	1,695,500		America Movil SAB de CV Series L²		2,150,776


			Sweden — 1.3%
	23,135		Millicom International Cellular SA, ADR		1,998,576


			Singapore — 1.3%
	442,000		SembCorp Industries, Ltd.		1,971,209


			Italy — 1.2%
	2,040,652		Telecom Italia SPA		1,879,265


			Finland — 1.1%
	163,154		UPM-Kymmene OYJ		1,746,758


			South Africa — 0.9%
	81,126		MTN Group, Ltd.		1,462,778

See Notes to Financial Statements.

169

THE GLENMEDE FUND, INC.

International Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares					Value

*COMMON STOCKS — (Continued)**

		Thailand — 0.6%
	171,000	Bangkok Bank PCL, ADR			$	987,504


		TOTAL COMMON STOCKS (Cost $143,121,794)				154,211,761



Face
Amount


*REPURCHASE AGREEMENT — 1.7%**
$	2,615,850	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $2,615,851, due 11/1/12 (collateralized by a FHLMC security with a par value of $ 2,503,782 coupon rate of 4.000% due 8/15/39, market value of $2,668,817)				2,615,850


		TOTAL REPURCHASE AGREEMENT (Cost $2,615,850)				2,615,850



Shares


*INVESTMENT OF SECURITY LENDING COLLATERAL — 3.8%**
	5,882,434	State Street Navigator Securities Lending Prime Portfolio				5,882,434


		TOTAL INVESTMENT OF SECURITY LENDING COLLATERAL (Cost $5,882,434)				5,882,434

TOTAL INVESTMENTS (Cost $151,620,078)³			104.3	%	$	162,710,045
LIABILITIES IN EXCESS OF OTHER ASSETS			(4.3	)		(6,663,639	)

NET ASSETS			100.0	%	$	156,046,406


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Securities or partial securities on loan. See Note 1.
³		Aggregate cost for federal tax purposes was $155,004,254.
Abbreviations:
ADR — American Depositary Receipt
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

170

THE GLENMEDE FUND, INC.

International Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Oil, Gas & Consumable Fuels		11.5	%	$	17,968,929
Commercial Banks		10.2			15,973,078
Insurance		9.0			13,994,350
Metals & Mining		8.3			12,885,081
Pharmaceuticals		8.2			12,827,062
Automobiles		4.4			6,800,982
Chemicals		4.2			6,589,960
Food & Staples Retailing		4.2			6,568,206
Wireless Telecommunication Services		3.6			5,612,130
Diversified Telecommunication Services		3.2			5,035,246
Industrial Conglomerates		3.2			4,984,503
Multi-Utilities		2.6			4,008,733
Media		2.3			3,607,498
Electrical Equipment		2.1			3,325,149
Diversified Financial Services		2.0			3,046,516
Capital Markets		1.9			2,918,927
Machinery		1.5			2,365,579
Commercial Services & Supplies		1.4			2,211,550
Building Products		1.3			2,048,247
Energy Equipment & Services		1.3			2,030,432
IT Services		1.3			1,971,461
Beverages		1.2			1,892,006
Health Care Equipment & Supplies		1.1			1,792,491
Multi-line Retail		1.1			1,758,058
Paper & Forest Products		1.1			1,746,758
Airlines		1.1			1,656,495
Air Freight & Logistics		1.0			1,617,803
Computers & Peripherals		1.0			1,531,354
Internet Software & Services		1.0			1,522,746
Trading Companies & Distributors		0.9			1,451,240
Transportation Infrastructure		0.9			1,348,533
Life Sciences Tools & Services		0.5			831,105
Electronic Equipment, Instruments & Components		0.2			289,553

TOTAL COMMON STOCKS		98.8	%	$	154,211,761
REPURCHASE AGREEMENTS		1.7			2,615,850
INVESTMENTS OF SECURITY LENDING COLLATERAL		3.8			5,882,434

TOTAL INVESTMENTS		104.3	%	$	162,710,045

See Notes to Financial Statements.

171

THE GLENMEDE FUND, INC.

Philadelphia International Fund
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 99.0%**

		United Kingdom — 25.8%
	124,086	Aviva PLC	$	663,608
	121,941	Barclays PLC		447,679
	23,723	BG Group PLC		439,297
	40,681	BHP Billiton PLC		1,303,459
	177,109	BP Amoco PLC		1,266,994
	81,051	Britvic PLC		469,819
	133,574	Centrica PLC		698,614
	124,036	HSBC Holdings PLC		1,218,592
	88,888	Premier Oil PLC¹		503,054
	72,868	Prudential PLC		997,757
	24,798	Rio Tinto PLC		1,242,351
	38,437	Royal Dutch Shell PLC		1,358,716
	48,689	Smith & Nephew PLC		514,646
	132,702	Wm Morrison Supermarkets PLC		573,702

				11,698,288


		Germany — 15.3%
	6,606	Allianz AG		819,076
	12,009	BASF SE		995,100
	10,738	Bayer AG		935,154
	32,076	Deutsche Lufthansa AG		490,173
	6,933	GEA Group AG		216,478
	11,307	Hannover Rueckversicherung AG		795,357
	19,498	Metro AG		561,677
	7,821	Siemens AG Reg.		786,037
	43,384	Telefonica Deutschland Holding AG¹		331,151
	5,187	Volkswagen AG		1,011,158

				6,941,361


		Japan — 13.7%
	170,200	Chuo Mitsui Trust Holdings, Inc.		515,951
	14,100	Dena Co, Ltd.		439,974
	10,700	Ibiden Co., Ltd.		134,705
	29,700	JSR Corp.²		508,952
	24,000	Komatsu, Ltd.		502,668
	24,000	Kuraray Co., Ltd.		278,692
	32,800	Mitsubishi Corp.		585,494
	60,000	Mitsubishi Electric Corp.		447,952
	121,200	Mitsubishi UFJ Financial Group, Inc.		548,080
	71,400	Nissan Motor Co., Ltd.		597,460
	21,400	NKSJ Holdings, Inc.²		390,041

See Notes to Financial Statements.

172

THE GLENMEDE FUND, INC.

Philadelphia International Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Japan — (Continued)

	17,400	Nomura Research Institute, Ltd.	$	369,448
	3,000	Shimamura Co., Ltd.		312,664
	163,000	Toshiba Corp.		604,384

				6,236,465


		France — 8.4%
	14,478	BNP Paribas		728,295
	5,379	Cap Gemini SA		226,102
	5,270	Casino Guichard Perrachon		460,253
	18,898	Compagnie de Saint-Gobain		666,009
	18,781	GDF Suez		430,992
	12,139	Sanofi-Aventis		1,067,077
	11,601	Vivendi		237,353

				3,816,081


		Switzerland — 6.6%
	34,175	Credit Suisse Group AG		792,267
	4,944	Lonza Group AG¹		250,624
	8,700	Novartis AG		523,607
	5,001	Roche Holding AG		961,751
	1,922	Zurich Financial Services AG		473,638

				3,001,887


		Netherlands — 5.1%
	97,993	ING Groep N.V., ADR¹		865,725
	36,619	Koninklijke Ahold N.V.		466,236
	47,908	Koninklijke KPN N.V.		302,469
	50,627	Reed Elsevier N.V.		680,153

				2,314,583


		South Korea — 4.3%
	7,019	Kia Motors Corp.		390,016
	1,691	Lotte Shopping Co, Ltd.		523,301
	6,864	POSCO, ADR		538,000
	418	Samsung Electronics Co., Ltd		502,091

				1,953,408


		Australia — 3.3%
	65,745	Downer EDI, Ltd.¹		245,005
	24,892	Iluka Resources, Ltd.²		256,324

See Notes to Financial Statements.

173

THE GLENMEDE FUND, INC.

Philadelphia International Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Australia — (Continued)

	299,257	Mount Gibson Iron, Ltd.	$	219,004
	18,073	National Australia Bank, Ltd.		483,838
	68,143	Toll Holdings, Ltd.²		314,067

				1,518,238


		Norway — 3.2%
	8,336	Seadrill, Ltd.		337,458
	18,700	StatoilHydro ASA		462,146
	12,387	Telenor ASA		243,555
	11,718	TGS Nopec Geophysical Co. ASA²		398,732

				1,441,891


		Brazil — 2.2%
	37,770	Banco do Brasil SA, ADR		410,182
	28,516	Petroleo Brasileiro SA, Sponsored ADR		604,825

				1,015,007


		Israel — 1.8%
	19,863	Teva Pharmaceutical Industries, Ltd., Sponsored ADR		802,863


		China — 1.6%
	197,000	CNOOC, Ltd.		408,740
	208,000	COSCO Pacific, Ltd.		304,886

				713,626


		Mexico — 1.5%
	545,300	America Movil SAB de CV Series L²		691,724


		Singapore — 1.3%
	135,990	SembCorp Industries, Ltd.		606,481


		Italy — 1.3%
	618,011	Telecom Italia SPA		569,135


		Sweden — 1.2%
	6,486	Millicom International Cellular SA, ADR		560,310


		Finland — 1.1%
	45,743	UPM-Kymmene OYJ		489,733


		South Africa — 0.8%
	21,148	MTN Group, Ltd.		381,318

See Notes to Financial Statements.

174

THE GLENMEDE FUND, INC.

Philadelphia International Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares					Value

*COMMON STOCKS — (Continued)**

		Thailand — 0.5%
	40,400	Bangkok Bank PCL, ADR			$	233,306


		TOTAL COMMON STOCKS (Cost $40,590,771)				44,985,705



Face
Amount


*REPURCHASE AGREEMENT — 1.4%**
$	630,165	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $630,165 due 11/1/12 (collateralized by a FHLMC security with a par value of $603,262 coupon rate of 4.000%, due 8/15/39, market value of $643,025)				630,165


		TOTAL REPURCHASE AGREEMENT (Cost $630,165)				630,165



Shares


*INVESTMENT OF SECURITY LENDING COLLATERAL — 5.2%**
	2,361,120	State Street Navigator Securities Lending Prime Portfolio				2,361,120


		TOTAL INVESTMENT OF SECURITY LENDING COLLATERAL (Cost $2,361,120)				2,361,120

TOTAL INVESTMENTS (Cost $43,582,056)³			105.6	%	$	47,976,990
LIABILITIES IN EXCESS OF OTHER ASSETS			(5.6	)		(2,551,942	)

NET ASSETS			100.0	%	$	45,425,048


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Securities or partial securities on loan. See Note 1.
³		Aggregate cost for federal tax purposes was $44,915,894.
Abbreviations:
ADR — American Depositary Receipt
FHLMC — Federal Home Loan Mortgage Corporation

See Notes to Financial Statements.

175

THE GLENMEDE FUND, INC.

Philadelphia International Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Oil, Gas & Consumable Fuels		11.1	%	$	5,043,772
Commercial Banks		10.1			4,585,923
Pharmaceuticals		9.4			4,290,452
Insurance		9.1			4,139,477
Metals & Mining		7.8			3,559,138
Food & Staples Retailing		4.5			2,061,868
Automobiles		4.4			1,998,634
Chemicals		3.9			1,782,744
Wireless Telecommunication Services		3.6			1,633,352
Diversified Telecommunication Services		3.2			1,446,310
Industrial Conglomerates		3.1			1,392,518
Multi-Utilities		2.5			1,129,606
Electrical Equipment		2.1			950,043
Media		2.0			917,506
Diversified Financial Services		1.9			865,725
Capital Markets		1.7			792,267
Energy Equipment & Services		1.6			736,190
Machinery		1.6			719,146
Building Products		1.5			666,009
Computers & Peripherals		1.3			604,384
IT Services		1.3			595,550
Trading Companies & Distributors		1.3			585,494
Multi-line Retail		1.2			523,301
Health Care Equipment & Supplies		1.1			514,646
Airlines		1.1			490,173
Paper & Forest Products		1.1			489,733
Beverages		1.0			469,819
Internet Software & Services		1.0			439,974
Air Freight & Logistics		0.7			314,067
Specialty Retail		0.7			312,664
Transportation Infrastructure		0.7			304,886

See Notes to Financial Statements.

176

THE GLENMEDE FUND, INC.

Philadelphia International Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

Life Sciences Tools & Services		0.6	%	$	250,624
Commercial Services & Supplies		0.5			245,005
Electronic Equipment, Instruments & Components		0.3			134,705

TOTAL COMMON STOCKS		99.0	%	$	44,985,705
REPURCHASE AGREEMENTS		1.4			630,165
INVESTMENTS OF SECURITY LENDING COLLATERAL		5.2			2,361,120

TOTAL INVESTMENTS		105.6	%	$	47,976,990

See Notes to Financial Statements.

177

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 99.4%**

		Japan — 26.7%
	7,300	Airport Facilities Co, Ltd.	$	33,651
	1,900	Aisan Industry Co, Ltd.		14,447
	2,500	Alpha Systems, Inc.		29,531
	1,000	Aoyama Trading Co, Ltd.		19,754
	1,000	ASKA Pharmaceutical Co, Ltd.		5,211
	13,000	Atsugi Co, Ltd.		14,819
	5,000	Bank of Nagoya, Ltd. (The)		17,099
	9,000	Bank of Saga, Ltd. (The)		19,729
	2,500	Chori Co, Ltd.		27,308
	17,000	Chuetsu Pulp & Paper Co, Ltd.		28,962
	200	Coca-Cola Central Japan Co, Ltd.		2,458
	500	EDION Corp.		2,136
	1,800	Ferrotec Corp.		7,080
	10,000	Fuso Pharmaceutical Industries, Ltd.		32,319
	3,500	Hakuto Co, Ltd.		31,874
	2,000	Hanwa Co, Ltd.		6,990
	52	Heiwa Real Estate, Inc. REIT		36,022
	700	Heiwado Co, Ltd.		9,751
	100	Hibiya Engineering, Ltd.		1,129
	16,000	Higashi-Nippon Bank, Ltd. (The)		34,473
	500	Hogy Medical Co, Ltd.		25,617
	5,300	Inabata & Co, Ltd.		34,258
	6,000	J-Oil Mills, Inc.		15,558
	10,000	Jaccs Co, Ltd.		42,590
	2,000	Japan Pulp & Paper Co, Ltd.		5,963
	3,000	Japan Vilene Co, Ltd.		12,740
	12,000	Juroku Bank, Ltd. (The)		38,933
	700	Kaga Electronics Co, Ltd.		6,375
	3,000	Kandenko Co, Ltd.		13,980
	5,100	Kojima Co, Ltd.		17,824
	12,000	Kurabo Industries, Ltd.		18,489
	1,000	Kyodo Printing Co, Ltd.		2,242
	6,000	Marudai Food Co, Ltd.		21,045
	3,000	Maruzen Showa Unyu Co, Ltd.		8,756
	14	MID, Inc. REIT		36,758
	3,000	Mie Bank, Ltd. (The)		6,389
	3,800	Mikuni Coca-Cola Bottling Co, Ltd.		31,560
	1,800	Mimasu Semiconductor Industry Co, Ltd.		14,138
	300	Mirait Holdings Corp.		2,431
	14,000	Miyazaki Bank, Ltd. (The)		34,373
	300	Nagase & Co, Ltd.		3,198
	4,300	Namura Shipbuilding Co, Ltd.		12,820
	2,500	NEC Capital Solutions, Ltd.		35,074
	300	NEC Fielding, Ltd.		3,521

See Notes to Financial Statements.

178

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Japan — (Continued)

	8,000	Nice Holdings, Inc.	$	17,237
	11,000	Nihon Yamamura Glass Co, Ltd.		22,874
	4,000	Nippon Road Co, Ltd. (The)		14,781
	14,000	Nippon Steel Trading Co, Ltd.		32,619
	4,000	Nissin Corp.		9,921
	2,000	Oita Bank, Ltd. (The)		6,714
	4,100	Onoken Co, Ltd.		32,767
	3,100	Otsuka Kagu, Ltd.		30,289
	2,100	Paltac Corp.		30,725
	3,400	Ryoyo Electro Corp.		33,987
	3,500	S Foods, Inc.		32,663
	10,000	Sakai Chemical Industry Co, Ltd.		26,932
	7,000	Sanki Engineering Co, Ltd.		32,356
	2,000	Sankyo-Tateyama Holdings, Inc.		4,334
	2,400	Sanoh Industrial Co, Ltd.		14,160
	10,000	Sanyo Shokai, Ltd.		29,438
	6,000	Senko Co, Ltd.		24,277
	3,200	Senshukai Co, Ltd.		20,163
	500	Shinko Electric Industries Co, Ltd.		3,107
	3,900	Shinko Shoji Co, Ltd.		33,758
	1,900	Showa Corp.		17,565
	14,000	Sumikin Bussan Corp.		34,198
	19,000	Sumitomo Light Metal Industries, Ltd.		15,470
	2,300	Takasago Thermal Engineering Co, Ltd.		18,093
	2,700	Tenma Corp.		26,787
	12,000	Toho Bank, Ltd. (The)		40,135
	1,700	Tohokushinsha Film Corp.		11,925
	4,000	Tokyo Energy & Systems, Inc.		17,437
	3,000	Toppan Forms Co, Ltd.		28,260
	14,000	Topy Industries, Ltd.		27,183
	1,400	Torii Pharmaceutical Co, Ltd.		30,971
	2,900	Touei Housing Corp.		30,842
	10,000	Toyo Kohan Co, Ltd.		24,928
	6,000	Toyo Tire & Rubber Co, Ltd.		14,581
	5,000	TSI Holdings Co, Ltd.		30,502
	12,000	Uchida Yoko Co, Ltd.		32,619
	5,200	UNY Co, Ltd.		36,999
	2,400	Vital KSK Holdings, Inc.		24,322
	100	Yachiyo Bank, Ltd. (The)		1,785
	7,000	Yodogawa Steel Works, Ltd.		22,535
	3,300	Yokohama Reito Co, Ltd.		22,405
	3,700	Yonekyu Corp.		30,034
	1,000	Yurtec Corp.		3,345

				1,815,398

See Notes to Financial Statements.

179

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**


		United Kingdom — 22.3%
	436	African Barrick Gold PLC	$	2,983
	7,530	Amlin PLC		45,350
	463	Anglo Pacific Group PLC		1,870
	4,034	Barratt Developments PLC¹		12,343
	2,345	BBA Aviation PLC		7,644
	12,050	Beazley PLC		34,049
	441	Bellway PLC		7,195
	2,193	Cape PLC		9,520
	4,092	Carillion PLC		20,325
	6,003	Catlin Group, Ltd.		45,647
	8,466	Chesnara PLC		25,582
	11,076	Circle Oil PLC¹		3,262
	137	Close Brothers Group PLC		1,870
	1,809	Computacenter PLC		10,714
	2,398	Cookson Group PLC		22,541
	7,268	CSR PLC		41,391
	26,748	Debenhams PLC		51,668
	2,919	Drax Group PLC		26,450
	11,146	DS Smith PLC		38,384
	761	easyJet PLC		7,675
	995	Electrocomponents PLC		3,420
	7,497	EnQuest PLC¹		14,022
	10,382	Ferrexpo PLC		34,999
	13,341	FirstGroup PLC		41,013
	3,129	Galliford Try PLC		37,290
	27,372	Greencore Group PLC		40,196
	1,887	Greene King PLC		18,088
	2,956	Hargreaves Services PLC		34,584
	22,686	Henderson Group PLC		42,833
	567	Hikma Pharmaceuticals PLC		6,766	��
	2,880	Hill & Smith Holdings PLC		17,289
	1,305	Hiscox, Ltd.		10,117
	23,615	Home Retail Group PLC		43,482
	2,542	Hunting PLC		30,705
	6,572	Inchcape PLC		42,634
	8,893	Intermediate Capital Group PLC		43,800
	5,648	Interserve PLC		35,546
	2,498	John Wood Group PLC		34,245
	4,279	Keller Group PLC		41,880
	13,840	Ladbrokes PLC		40,023
	9,817	Laird PLC		33,300
	29,369	Lookers PLC		36,020
	16,411	Marston’s PLC		32,469
	7,680	McBride PLC		16,979

See Notes to Financial Statements.

180

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		United Kingdom — (Continued)

	26,609	Mecom Group PLC	$	33,386
	562	Millennium & Copthorne Hotels PLC		4,557
	2,476	Mondi PLC		27,250
	3,289	Morgan Sindall Group PLC		35,110
	9,961	National Express Group PLC		27,359
	12,748	Pace PLC		38,264
	922	Persimmon PLC		11,829
	147,928	Petroceltic International PLC¹		16,448
	1,980	Petropavlovsk PLC		12,886
	4,512	Phoenix Group Holdings		35,991
	5,176	Playtech, Ltd.		35,382
	97	Provident Financial PLC		2,148
	1,948	St Ives PLC		3,222
	6,099	Stobart Group, Ltd.		10,561
	2,168	Synergy Health PLC		32,502
	2,816	TalkTalk Telecom Group PLC		8,634
	15,803	Taylor Wimpey PLC		15,582
	8,726	Thomas Cook Group PLC¹		2,887
	1,607	Tullett Prebon PLC		7,085
	753	William Hill PLC		4,107
	2,435	Yule Catto & Co. PLC		5,776

				1,519,129


		Australia — 8.5%
	4,527	Abacus Property Group REIT		9,774
	3,096	Adelaide Brighton, Ltd.		10,188
	43,912	Aditya Birla Minerals, Ltd.		20,968
	519	Ansell, Ltd.		8,405
	84,770	APN News & Media, Ltd.		32,558
	4,249	Ardent Leisure Group REIT		6,241
	30,202	Arrium, Ltd.		24,611
	127,632	Aspen Group REIT		22,523
	1,305	Ausenco, Ltd.		4,281
	8,283	Australand Property Group REIT		25,966
	5,488	Bank of Queensland, Ltd.		43,182
	30,971	Beach Energy, Ltd.		44,366
	16,525	BlueScope Steel, Ltd.¹		8,148
	374	Boart Longyear, Ltd.		567
	48,589	CSG, Ltd.		24,462
	896	CSR, Ltd.		1,628
	4,723	Downer EDI, Ltd.¹		17,601
	28,777	Emeco Holdings, Ltd.		20,761
	841	Envestra, Ltd.		790
	134,769	Grange Resources, Ltd.		34,974

See Notes to Financial Statements.

181

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Australia — (Continued)

	427	GUD Holdings, Ltd.	$	3,719
	10,482	Hills Holdings, Ltd.		8,269
	8,346	Miclyn Express Offshore, Ltd.		19,233
	4,242	Molopo Energy, Ltd.¹		2,422
	19,305	Mount Gibson Iron, Ltd.		14,128
	1,814	NRW Holdings, Ltd.		3,860
	4,682	Nufarm Ltd.		27,946
	4,724	Pacific Brands, Ltd.		3,040
	2,045	Primary Health Care, Ltd.		8,258
	10,395	Programmed Maintenance Services, Ltd.		22,336
	17,332	Seven West Media, Ltd.		21,860
	2,285	Sigma Pharmaceuticals, Ltd.		1,601
	22,873	Spark Infrastructure Group²		40,126
	3,268	STW Communications Group, Ltd.		3,426
	8,716	Tassal Group, Ltd.		13,119
	1,309	Transfield Services, Ltd.		2,161
	1,640	UGL, Ltd.		18,182

				575,680


		Germany — 5.6%
	951	Asian Bamboo AG		7,330
	306	Aurubis AG		19,347
	368	Bauer AG		7,958
	155	Bilfinger Berger SE		15,166
	2,528	Freenet AG		41,794
	506	GAGFAH SA¹		5,752
	220	Gerresheimer AG		10,916
	1,233	Grammer AG		23,972
	549	Indus Holding AG		13,823
	4,547	Jenoptik AG		43,047
	73	Kloeckner & Co. SE¹		661
	1,656	Kontron AG		7,785
	1,012	Leoni AG		33,717
	5,245	MLP AG		33,679
	794	Rheinmetall AG		37,888
	650	Sixt AG		12,090
	1,428	Stada Arzneimittel AG		43,219
	1,783	Wacker Neuson SE		24,289

				382,433


		France — 4.2%
	5,774	Acanthe Developpement SA REIT		2,994
	144	APERAM		2,086
	400	Boiron SA		12,806

See Notes to Financial Statements.

182

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		France — (Continued)

	1,883	Cegid Group	$	36,341
	2,014	Cie des Alpes		35,998
	375	Ciments Francais SA		22,820
	1,625	Credit Agricole Nord de France		24,664
	1,218	Eiffage SA		41,844
	75	Euler Hermes SA		5,170
	352	Havas SA		1,779
	1,779	Jacquet Metal Service		17,356
	23	Nexans SA		979
	607	Nexity SA		18,701
	542	Plastic Omnium SA		14,992
	1,223	Rallye SA		37,268
	273	Valeo SA		11,995

				287,793


		Switzerland — 3.8%
	298	Acino Holding AG		36,542
	710	BKW SA		27,369
	3,610	Clariant AG		38,647
	3	Georg Fischer AG		1,052
	92	Helvetia Holding AG		32,254
	949	Implenia AG		40,200
	900	Schweizerische National-Versicherungs-Gesellschaft AG		36,336
	3	Siegfried Holding AG		373
	214	Valora Holding AG		40,764
	81	Vontobel Holding AG		2,257

				255,794


		Hong Kong — 3.2%
	75,000	City Telecom HK, Ltd.		17,226
	490,000	CSI Properties, Ltd.		20,232
	22,500	Dickson Concepts International, Ltd.		11,613
	134,000	Emperor International Holdings		32,160
	36,000	Glorious Sun Enterprises, Ltd.		9,940
	271,000	Pacific Andes International Holdings, Ltd.		15,211
	40,000	Prosperity International Holdings HK, Ltd.^1,3		2,039
	30,000	Regal Hotels International Holdings, Ltd.		13,200
	22,000	SOCAM Development, Ltd.		22,653
	166,000	Truly International Holdings		25,275	��
	308,000	Victory City International Holdings, Ltd.		32,588
	56,000	VST Holdings, Ltd.		9,827
	44,000	Win Hanverky Holdings, Ltd.		4,428

				216,392

See Notes to Financial Statements.

183

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Sweden — 3.1%
	1,747	Bilia AB	$	22,388
	4,148	Billerud AB		39,554
	4,014	Duni AB		36,310
	343	Fabege AB		3,408
	4,563	Haldex AB		19,881
	7,277	Klovern AB		28,196
	3,176	Nolato AB		36,869
	825	Saab AB		15,672
	6,109	TradeDoubler AB		10,776

				213,054


		Singapore — 3.0%
	32,000	AIMS AMP Capital Industrial REIT		39,088
	62,000	Cambridge Industrial Trust REIT		33,801
	84,000	China XLX Fertiliser, Ltd.		20,315
	67,000	Chip Eng Seng Corp, Ltd.		25,541
	20,000	Mapletree Logistics Trust REIT		18,200
	2,000	Metro Holdings, Ltd.		1,295
	9,000	STX OSV Holdings, Ltd.		11,289
	6,000	Suntec Real Estate Investment Trust REIT		7,895
	7,000	United Engineers, Ltd.		14,174
	1,000	Venture Corp, Ltd.		6,271
	2,000	Wheelock Properties Singapore, Ltd.		2,968
	19,000	Yanlord Land Group, Ltd.¹		19,626

				200,463


		Norway — 2.9%
	2,855	Atea ASA		30,421
	609	Copeinca ASA		4,721
	572	Fred Olsen Energy ASA		26,838
	2,915	Kvaerner ASA		7,388
	2,999	Petroleum Geo-Services ASA		51,708
	19,418	Pronova BioPharma AS		38,487
	5,780	SpareBank 1 SMN		37,409
	427	Storebrand ASA¹		2,153

				199,125


		Italy — 2.6%
	12,888	Banca Popolare di Milano Scarl¹		7,095
	18,300	Beni Stabili SPA REIT		10,287
	2,373	Danieli & C Officine Meccaniche SPA		36,909
	216	Delclima¹		185
	10,883	Immobiliare Grande Distribuzione REIT		11,243

See Notes to Financial Statements.

184

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Italy — (Continued)

	50,251	IMMSI SPA	$	25,076
	1,050	Indesit Co. SPA		6,495
	11,254	Italcementi SPA		28,736
	1,645	Lottomatica SPA		35,287
	6,380	Sogefi SPA		15,298

				176,611


		Finland — 2.0%
	4,508	HKScan OYJ		19,691
	13,817	Oriola-KD OYJ		37,430
	2,570	Outokumpu OYJ¹		2,175
	4,123	Sanoma OYJ		40,080
	1,328	Tieto OYJ		25,475
	434	YIT OYJ		8,534

				133,385


		Netherlands — 1.8%
	904	BE Semiconductor Industries N.V.		6,093
	712	Heijmans N.V.		6,029
	3,161	Nieuwe Steen Investments N.V. REIT		27,315
	10,981	TNT N.V.¹		43,297
	859	Vastned Retail N.V.		39,793

				122,527


		Denmark — 1.5%
	1,391	Alm Brand AS¹		3,456
	649	Dfds AS		31,461
	672	East Asiatic Co, Ltd. AS		12,961
	88	Jyske Bank AS¹		2,684
	1,266	Pandora AS		20,105
	1,468	Schouw & Co.		33,541

				104,208


		Belgium — 1.4%
	438	Arseus N.V.		8,204
	1,067	Cie Maritime Belge SA		19,085
	99	Cofinimmo REIT		11,259
	2,551	Exmar N.V.		18,979
	142	N.V. Bekaert SA		3,876
	5,132	Recticel SA		33,991

				95,394

See Notes to Financial Statements.

185

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Israel — 1.3%
	4,847	Alony Hetz Properties & Investments, Ltd.	$	24,337
	6,464	Clal Industries and Investments, Ltd.		22,719
	587	Gilat Satellite Networks, Ltd.¹		2,623
	1,755	Industrial Buildings Corp.¹		2,329
	2,016	Israel Land Development Co, Ltd. (The)		7,672
	1,127	Norstar Holdings, Inc.		24,666
	43	Paz Oil Co, Ltd.		5,651

				89,997


		Ireland — 1.3%
	6,549	Aer Lingus Group PLC		8,743
	1,340	C&C Group PLC		6,416
	536	FBD Holdings PLC		6,704
	21,155	Governor & Co. of the Bank of Ireland (The)¹		2,495
	307	Smurfit Kappa Group PLC		3,383
	59,294	Total Produce PLC		37,274
	5,914	United Drug PLC		21,569

				86,584


		Spain — 1.3%
	574	Bolsas y Mercados Espanoles SA		12,372
	6,880	CaixaBank		26,039
	355	Corp. Financiera Alba		13,413
	141	Ebro Foods SA		2,590
	1,268	Pescanova SA		23,502
	724	Sacyr Vallehermoso SA¹		1,438
	115	Tecnicas Reunidas SA		5,648

				85,002


		Greece — 1.1%
	3,669	Eurobank Properties Real Estate Investment Co. REIT		22,874
	1,181	Hellenic Petroleum SA		9,246
	2,313	Metka SA		21,016
	2,807	Motor Oil Hellas Corinth Refineries SA		24,413

				77,549


		New Zealand — 0.8%
	25,754	Air New Zealand, Ltd.		26,263
	20,109	New Zealand Oil & Gas, Ltd.		14,305
	6,721	Nuplex Industries, Ltd.		16,693

				57,261

See Notes to Financial Statements.

186

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**

		Portugal — 0.6%
	17,175	Mota-Engil SGPS SA	$	29,051
	4,960	Sonaecom — SGPS SA		9,001

				38,052


		Austria — 0.4%
	112	Austria Technologie & Systemtechnik AG		983
	1,916	EVN AG		27,094
	35	Strabag SE		879

				28,956


		TOTAL COMMON STOCKS (Cost $6,605,623)		6,760,787


PREFERRED STOCKS — 0.1%

		Germany — 0.1%
	15	Draegerwerk AG & Co. KGaA, 0.26%		1,467
	37	Jungheinrich AG, 2.88%		1,223

				2,690


		Italy — 0.0%
	70	Unipol Gruppo Finanziario SPA, 0.00%		113


		United Kingdom — 0.0%
	230,400	McBride PLC, 0.00%		372


		TOTAL PREFERRED STOCKS (Cost $4,741)		3,175


MUTUAL FUNDS — 0.0%

		Australia — 0.0%
	197	Australian Infrastructure Fund		607
	494	Challenger Infrastructure Fund³		595

				1,202


		TOTAL MUTUAL FUNDS (Cost $1,005)		1,202

See Notes to Financial Statements.

187

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

Face

Amount

Value

REPURCHASE AGREEMENT* — 0.3%

18,818

With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $18,818, due 11/1/12, (collateralized by a FHLMC security with a par value of $19,618 coupon rate of 4.000% due 8/15/39, market value of $20,911)

18,818

TOTAL REPURCHASE AGREEMENT
(Cost $18,818)

18,818

TOTAL INVESTMENTS
(Cost $6,630,187)⁴

99.8

6,783,982

OTHER ASSETS IN EXCESS OF LIABILITIES

0.2

15,523

NET ASSETS

100.0

6,799,505


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transasctions exempt from registration, normally to qualified buyers.
³		Security is fair valued by management.
⁴		Aggregate cost for federal tax purposes was $6,668,848.
Abbreviations:
FHLMC — Federal Home Loan Mortgage Corporation
REIT — Real Estate Investment Trust

See Notes to Financial Statements.

188

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Construction & Engineering		7.3	%	$	495,967
Real Estate Investment Trusts		5.2			355,792
Commercial Banks		5.0			343,198
Metals & Mining		4.2			284,710
Insurance		4.2			282,922
Trading Companies & Distributors		3.8			259,425
Electronic Equipment, Instruments & Components		3.4			228,117
Pharmaceuticals		3.0			206,321
Food Products		3.0			205,958
Real Estate Management & Development		2.9			197,325
Chemicals		2.9			197,087
Hotels, Restaurants & Leisure		2.8			192,857
Oil, Gas & Consumable Fuels		2.8			189,568
Specialty Retail		2.7			180,788
Food & Staples Retailing		2.6			176,360
Energy Equipment & Services		2.6			175,765
Textiles, Apparel & Luxury Goods		2.5			173,049
Auto Components		2.4			160,727
Media		2.3			155,908
Household Durables		2.1			143,201
Health Care Providers & Services		2.0			133,886
Capital Markets		1.9			131,524
Machinery		1.9			128,479
Distributors		1.8			120,944
Commercial Services & Supplies		1.7			114,739
Road & Rail		1.7			113,495
Software		1.5			101,254
Industrial Conglomerates		1.4			98,599
Paper & Forest Products		1.4			95,766
IT Services		1.4			94,593
Electric Utilities		1.4			94,589
Semiconductors & Semiconductor Equipment		1.2			79,594
Communications Equipment		1.1			77,756
Containers & Packaging		0.9			64,641
Internet & Catalog Retail		0.9			63,645
Construction Materials		0.9			61,744
Air Freight & Logistics		0.8			53,858
Multi-line Retail		0.8			52,963
Wireless Telecommunication Services		0.7			50,795
Marine		0.7			50,546

See Notes to Financial Statements.

189

THE GLENMEDE FUND, INC.

Philadelphia International Small Cap Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

Consumer Finance		0.7	%	$	44,738
Airlines		0.6			42,681
Beverages		0.6			40,434
Health Care Equipment & Supplies		0.5			35,489
Building Products		0.4			30,696
Independent Power Producers & Energy Traders		0.4			26,450
Diversified Telecommunication Services		0.4			25,860
Diversified Financial Services		0.4			25,785
Automobiles		0.4			25,076
Transportation Infrastructure		0.3			18,172
Household Products		0.3			17,351
Aerospace & Defense		0.2			15,672
Life Sciences Tools & Services		0.2			11,289
Internet Software & Services		0.2			10,776
Electrical Equipment		0.1			4,855
Gas Utilities		0.0			790
Multi-Utilities		0.0			595

TOTAL COMMON STOCKS, PREFERRED STOCKS AND MUTUAL FUNDS		99.5	%	$	6,765,164
REPURCHASE AGREEMENTS		0.3			18,818

TOTAL INVESTMENTS		99.8	%	$	6,783,982

See Notes to Financial Statements.

190

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Shares			Value


*COMMON STOCKS — 92.0%**

		China — 17.3%
	261,000	361 Degrees International, Ltd.	$	75,100
	44,000	Agile Property Holdings, Ltd.		50,075
	453,000	Agricultural Bank of China, Ltd.		195,812
	34,898	Asian Citrus Holdings, Ltd.		19,922
	1,185,000	Bank of China, Ltd.		487,758
	210,000	Bank of Communications Co, Ltd.		150,386
	124,000	Baoye Group Co., Ltd.		63,360
	206,000	Beijing Capital Land, Ltd.		61,667
	158,000	Central China Real Estate, Ltd.		38,327
	14,000	Chaoda Modern Agriculture Holdings, Ltd.^1,2,3		—
	143,000	Chaowei Power Holdings, Ltd.		77,681
	882,000	China Citic Bank Corp, Ltd.		450,671
	165,000	China Communications Construction Co., Ltd.		155,205
	1,000,000	China Construction Bank Corp.		754,834
	840,000	China Green Holdings Ltd¹		185,341
	503,500	China Hongqiao Group, Ltd.		233,233
	364,000	China Lumena New Materials Corp.		74,209
	17,500	China Merchants Bank Co, Ltd.		32,697
	492,000	China Minsheng Banking Corp, Ltd.		448,193
	54,500	China Mobile, Ltd.		604,067
	12,000	China Oriental Group Co., Ltd.¹		2,601
	5,600	China Petroleum & Chemical Corp., ADR		589,176
	94,500	China Railway Construction Corp, Ltd.		94,256
	270,000	China SCE Property Holdings, Ltd.		62,361
	256,000	China South City Holdings, Ltd.		40,629
	396,000	China Vanadium Titano — Magnetite Mining Co., Ltd.		76,134
	4,100	China Yuchai International, Ltd.		56,826
	157,000	Chongqing Rural Commercial Bank		73,941
	172,000	CNOOC, Ltd.		356,870
	210,000	Datang International Power Generation Co, Ltd.		74,787
	434,000	Evergrande Real Estate Group, Ltd.		189,839
	576,000	Fantasia Holdings Group Co, Ltd.		57,228
	3,000	GCL-Poly Energy Holdings, Ltd. — Class P		534
	57,200	Guangzhou R&F Properties Co, Ltd.		70,337
	53,000	Hainan Meilan International Airport Co, Ltd.		33,099
	80,000	Harbin Electric Co, Ltd.		66,167
	30,000	Hilong Holding, Ltd.		8,206
	1,400	Huaneng Power International, Inc., Sponsored ADR		44,576
	894,000	Industrial & Commercial Bank of China		591,766
	106,000	Leoch International Technology, Ltd.		16,686
	142,000	MIE Holdings Corp.		39,027
	378,000	Peak Sport Products Co, Ltd.		72,185
	12,000	Shimao Property Holdings, Ltd.		22,916
	140,000	Sunac China Holdings, Ltd.		74,245

See Notes to Financial Statements.

191

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		China — (Continued)

	288,000	Tiangong International Co, Ltd.	$	69,491
	102,000	Tianneng Power International, Ltd.		68,965
	105,000	Winsway Coking Coal Holding, Ltd.		16,935
	143,000	Xinhua Winshare Publishing and Media Co, Ltd.		76,758
	15,600	Zoomlion Heavy Industry Science and Technology Co, Ltd.		21,015

				7,126,094


		South Korea — 14.7%
	2,010	BS Financial Group, Inc.		22,761
	5,060	Daeduck Electronics Co.		42,824
	10,610	Daekyo Co, Ltd.		58,566
	340	Daou Technology, Inc.		4,832
	5,990	Dongbu Insurance Co, Ltd.		271,599
	2,875	Doosan Corp.		332,157
	409	E1 Corp.		23,289
	3,609	Eugene Technology Co, Ltd.		45,336
	9,090	Hana Financial Group, Inc.		264,632
	431	Hankook Tire Co, Ltd.¹		18,179
	98	Hankook Tire Worldwide Co, Ltd.		1,267
	1,800	Hansae Co, Ltd.		24,014
	35,060	Hansol Paper Co.		294,471
	7,170	Hyundai Hy Communications & Networks Co, Ltd.¹		34,187
	7,900	Hyundai Marine & Fire Insurance Co, Ltd.		255,341
	191	Hyundai Motor Co.		39,317
	1,100	Industrial Bank of Korea		12,103
	1,319	KCC Corp.		370,084
	6,890	Kia Motors Corp.		382,848
	12,750	Kolon Global Corp.		36,709
	31,490	Korea Exchange Bank¹		218,288
	2,600	KT Corp., Sponsored ADR		44,070
	3,100	LG Display Co., Ltd., ADR¹		46,004
	3,160	LG Uplus Corp.		20,196
	1,289	OCI Co., Ltd.		182,015
	750	Ottogi Corp.		162,984
	4,703	Partron Co, Ltd.		71,800
	4,500	S&T Dynamics Co, Ltd.		45,182
	661	Samchully Co, Ltd.		58,972
	1,450	Samsung Electronics Co., Ltd		1,741,702
	2,460	Samsung Heavy Industries Co, Ltd.		75,226
	2,003	Samyang Holdings Corp.		131,317
	231	SeAH Steel Corp.		19,931
	914	Sindoh Co., Ltd.		55,480
	933	SK Gas Co, Ltd.		67,584

See Notes to Financial Statements.

192

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		South Korea — (Continued)

	1,677	SK Holdings Co., Ltd.	$	233,728
	503	SK Innovation Co., Ltd.		74,025
	7,450	Woongjin Thinkbig Co, Ltd.		43,514
	22,470	Woori Finance Holdings Co., Ltd.		212,214
	500	Woori Finance Holdings Co., Ltd., ADR		14,115

				6,052,863


		Taiwan — 11.2%
	31,000	Ability Enterprise Co, Ltd.		27,909
	50,000	Accton Technology Corp.		24,818
	39,000	Alpha Networks, Inc.		24,832
	74,000	AmTRAN Technology Co, Ltd.		62,569
	40,399	Ardentec Corp.		25,100
	9,000	Asia Plastic Recycling Holding, Ltd.		26,927
	30,660	Asustek Computer, Inc.		328,509
	126,000	Cathay Real Estate Development Co, Ltd.		58,013
	168,000	Chailease Holding Co, Ltd.		299,050
	200	Cheng Loong Corp.		80
	35	Chicony Electronics Co, Ltd.		77
	339	Chimei Materials Technology Corp.		326
	25,000	Chin-Poon Industrial Co.		27,172
	283,000	China Bills Finance Corp.		101,236
	490	China Development Financial Holding Corp.¹		110
	221,000	China Synthetic Rubber Corp.		236,414
	5,702	Chinatrust Financial Holding Co, Ltd.		3,143
	22,000	Chipbond Technology Corp.		37,279
	17,090	Chong Hong Construction Co.		39,138
	147,000	Continental Holdings Corp.		52,837
	8,000	Cyberlink Corp.		28,892
	87,000	Elitegroup Computer Systems Co, Ltd.		23,557
	38,000	Farglory Land Development Co, Ltd.		63,870
	30,000	Gigabyte Technology Co, Ltd.		24,750
	8,000	Global Mixed Mode Technology, Inc.		25,797
	60,000	Grand Pacific Petrochemical		30,911
	84,000	Great Taipei Gas Co, Ltd.		54,778
	19,941	Great Wall Enterprise Co., Ltd.		17,065
	39,000	Greatek Electronics, Inc.		29,705
	25,300	Hon Hai Precision Industry Co, Ltd.		76,820
	20	Huaku Development Co., Ltd.		41
	42,000	Hung Poo Real Estate Development Corp.		38,675
	66,000	Hung Sheng Construction Co, Ltd.		35,697
	54,000	Kindom Construction Co.		34,660
	8,000	King Slide Works Co, Ltd.		44,912
	57,000	King Yuan Electronics Co, Ltd.		31,024

See Notes to Financial Statements.

193

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Taiwan — (Continued)

	42,000	King’s Town Bank¹	$	28,755
	176,000	Lien Hwa Industrial Corp.		110,254
	29,144	LITE-ON IT Corp.		24,443
	244,165	Lite-On Technology Corp.		310,926
	35,000	Long Bon International Co, Ltd.¹		22,884
	17,000	Makalot Industrial Co, Ltd.		51,327
	54,000	Micro-Star International Co, Ltd.		24,401
	187,700	Powertech Technology, Inc.		291,710
	11,330	Radiant Opto-Electronics Corp.		47,124
	11,000	Realtek Semiconductor Corp.		20,710
	19,000	Sercomm Corp.		25,561
	32,000	Shihlin Electric & Engineering Corp.		38,011
	33,000	Shin Kong Financial Holding Co, Ltd.¹		8,551
	9,000	Shin Zu Shing Co, Ltd.		31,117
	54,400	Siliconware Precision Industries Co., Sponsored ADR		261,120
	24,240	Silitech Technology Corp.		36,096
	117,320	SinoPac Financial Holdings Co, Ltd.		45,382
	47,800	Taiwan Semiconductor Manufacturing Co., Ltd., Sponsored ADR		760,020
	1,295	TPK Holding Co, Ltd.		16,269
	13,000	Transcend Information, Inc.		32,709
	110	TSRC Corp.		224
	18,000	TXC Corp.		31,302
	66,000	Vanguard International Semiconductor Corp.		42,814
	352,431	Wistron Corp.		338,406
	2,520	Yieh Phui Enterprise Co, Ltd.		702
	100,964	Yieh United Steel Corp.¹		31,279
	141,075	Yuen Foong Yu Paper Manufacturing Co., Ltd.		57,468

				4,626,258


		Brazil — 9.2%
	1,300	Banco Bradesco SA, ADR		20,358
	47,800	Banco do Brasil SA		509,995
	500	Camargo Correa Des Imob SA^1,2,3		1,359
	3,000	Cia de Saneamento Basico do Estado de Sao Paulo, ADR		252,030
	400	Cia de Saneamento de Minas Gerais-COPASA		9,442
	12,900	Cia Energetica de Minas Gerais, Sponsored ADR		154,671
	980	Cielo SA		24,246
	16,600	Cosan, Ltd. — Class A		272,406
	13,500	Direcional Engenharia SA		80,825
	5,200	Eternit SA		21,506
	12,200	Fertilizantes Heringer SA¹		66,735
	17,300	Helbor Empreendimentos SA		97,528

See Notes to Financial Statements.

194

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Brazil — (Continued)

	25,200	JBS SA¹	$	81,517
	4,200	M Dias Branco SA		141,031
	49,300	Oi SA		233,022
	56	Oi SA, ADR — FSE		261
	33,300	Petroleo Brasileiro SA, ADR		683,649
	26,000	Petroleo Brasileiro SA, Sponsored ADR		551,460
	14,300	Santos Brasil Participacoes SA		205,588
	300	Sao Martinho SA		3,749
	16,000	Telefonica Brasil, ADR		352,320
	36,000	Tereos Internacional SA		48,566

				3,812,264


		Russia — 8.6%
	4,733	Acron JSC		192,395
	143,900	Aeroflot — Russian Airlines OJSC		183,101
	41,470	Gazprom Neft JSC		202,289
	98,000	Gazprom OAO, ADR		895,720
	710,000	IDGC Holding JSC¹		41,989
	2,200,000	Interregional Distribution Grid Co. Centre JSC		41,734
	420,000	Interregional Distribution Network Co. Center and Privolzhya OJSC		2,142
	12,100	Lukoil OAO, ADR		728,420
	3,032,000	Moscow Integrated Electricity Distribution Co.		117,642
	2,000,000	Mosenergo OAO		88,080
	4,630,000	Mosenergosbyt JSC		71,580
	33,000	Nizhnekamskneftekhim OAO		30,509
	57,900	Protek		48,937
	1,366	Raspadskaya¹		2,686
	222,390	Sberbank of Russia		650,815
	650	Severstal OAO		7,956
	110	Slavneft-Megionneftegaz¹		1,617
	150,400	Surgutneftegas OJSC		130,570
	20,530	Tatneft		129,259
	96	TMK OAO, GDR¹		1,424

				3,568,865


		South Africa — 6.2%
	3,693	ABSA Group, Ltd.		59,288
	71,813	African Bank Investments, Ltd.		242,837
	33,027	Barloworld, Ltd.		267,586
	18,207	Blue Label Telecoms, Ltd.		14,153
	14,819	Brait SE¹		58,280
	37,342	Clover Industries, Ltd.		60,294
	60,360	Eqstra Holdings, Ltd.		44,692

See Notes to Financial Statements.

195

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		South Africa — (Continued)

	37,878	FirstRand, Ltd.	$	125,726
	300	Gold Fields, Ltd., Sponsored ADR		3,753
	3,708	Hudaco Industries, Ltd.		45,973
	13,957	Imperial Holdings, Ltd.		317,076
	10,901	JD Group Ltd/South Africa		58,210
	26,522	Liberty Holdings, Ltd.		307,626
	18,899	MTN Group, Ltd.		340,767
	2,401	Nedbank Group, Ltd.		49,567
	3,351	Omnia Holdings, Ltd.		49,604
	3,709	Palabora Mining Co, Ltd.		36,163
	30,627	Raubex Group, Ltd.		58,282
	48,071	RMI Holdings		125,352
	3,900	Sasol, Ltd., Sponsored ADR		165,399
	36,509	Super Group Ltd/South Africa¹		65,265
	8,448	Trencor, Ltd.		53,588

				2,549,481


		Poland — 5.5%
	3,628	Bank Millennium SA¹		4,807
	2,132	BRE Bank SA¹		201,137
	1,097	Budimex SA		18,606
	39,829	Getin Holding SA¹		28,693
	8,855	Jastrzebska Spolka Weglowa SA		240,745
	9,888	KGHM Polska Miedz SA		498,016
	61,200	PGE SA		331,624
	13,574	Powszechna Kasa Oszczednosci Bank Polski SA		151,741
	3,976	Powszechny Zaklad Ubezpieczen SA		464,519
	2,285	Synthos SA		3,793
	227,506	Tauron Polska Energia SA		314,254

				2,257,935


		Turkey — 5.1%
	23,427	Alarko Holding AS		54,369
	115,086	Albaraka Turk Katilim Bankasi AS¹		91,170
	8,198	Dogus Otomotiv Servis ve Ticaret AS		30,460
	15,874	Ford Otomotiv Sanayi AS		162,947
	6,594	Gubre Fabrikalari TAS¹		46,167
	78,341	Is Yatirim Menkul Degerler AS		76,046
	81,115	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS — Class D		59,733
	23,305	Kordsa Global Endustriyel Iplik ve Kord Bezi Sanayi ve Ticaret AS		46,675
	17,195	Koza Altin Isletmeleri AS		374,117
	16,297	Park Elektrik Uretim Madencilik Sanayi ve Ticaret AS		59,824

See Notes to Financial Statements.

196

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Turkey — (Continued)

	10,861	Pinar SUT Mamulleri Sanayii AS	$	88,766
	21,942	Selcuk Ecza Deposu Ticaret ve Sanayi AS		26,318
	54,382	Sinpas Gayrimenkul Yatirim Ortakligi AS REIT		38,227
	41,664	Tofas Turk Otomobil Fabrikasi AS		232,435
	27,535	Torunlar Gayrimenkul Yatirim Ortakligi AS		43,626
	208,341	Turk Ekonomi Bankasi AS¹		203,401
	1,341	Turk Telekomunikasyon AS		5,237
	2,900	Turkcell Iletisim Hizmetleri AS, ADR¹		44,051
	43,670	Turkiye Halk Bankasi AS		384,929
	35,676	Turkiye Sinai Kalkinma Bankasi AS		41,000
	5,913	Turkiye Vakiflar Bankasi Tao		13,921

				2,123,419


		India — 3.3%
	1,041	Axis Bank, Ltd., GDR		23,152
	1,500	Infosys Technologies, Ltd., Sponsored ADR		65,130
	4,069	State Bank of India, GDR		335,285
	57,400	Sterlite Industries India, Ltd., ADR		429,926
	19,800	Tata Motors, Ltd., ADR		478,170
	4,848	Tata Steel, Ltd., GDR		35,245
	2,300	Wipro, Ltd., ADR		17,756

				1,384,664


		Malaysia — 2.6%
	45,100	Affin Holdings BHD		50,193
	33,400	APM Automotive Holdings BHD		53,510
	138,900	Guan Chong BHD		86,641
	87,980	HAP Seng Consolidated BHD		47,081
	14,900	Hong Leong Industries BHD		22,991
	150	Jaya Tiasa Holdings BHD		113
	101,700	JCY International BHD		25,041
	19,100	Kossan Rubber Industries		19,125
	77,200	Mah Sing Group BHD		57,026
	63,100	Malaysia Building Society		48,682
	58,000	Mudajaya Group Bhd		50,840
	94,000	Padiberas Nasional BHD		101,530
	80,500	Padini Holdings BHD		54,178
	144,300	Starhill Real Estate Investment Trust		51,637
	16,900	Tasek Corp. BHD		76,566
	88,700	TDM BHD		103,085

See Notes to Financial Statements.

197

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Malaysia — (Continued)

	39,200	Tenaga Nasional BHD	$	89,442
	79,600	Tradewinds Plantation BHD		111,848
	12,700	UMW Holdings BHD		41,611

				1,091,140


		Hong Kong — 2.3%
	70,000	Bosideng International Holdings, Ltd.		22,309
	312,000	BYD Electronic International Co, Ltd.		66,425
	452,000	China Aoyuan Property Group, Ltd.		62,405
	346,000	CP Pokphand Co, Ltd.		41,073
	38,000	Greentown China Holdings, Ltd.		46,875
	38,000	Huabao International Holdings, Ltd.		18,926
	162,000	Ju Teng International Holdings, Ltd.		64,800
	96,500	KWG Property Holding, Ltd.		57,402
	657,000	Real Nutriceutical Group, Ltd.		234,823
	258,000	Shenzhen Investment, Ltd.		68,910
	91,000	Sunny Optical Technology Group Co, Ltd.		53,543
	126,000	TCL Multimedia Technology Holdings, Ltd. — Class M		70,072
	190,000	Wasion Group Holdings, Ltd.		69,625
	364,000	Xiwang Special Steel Co, Ltd.		61,058

				938,246


		Thailand — 1.9%
	84,000	Asian Property Development PCL		23,843
	3,400	Bangchak Petroleum PCL		2,912
	13,800	Bangkok Expressway PCL		12,494
	53,400	Delta Electronics Thailand PCL		50,961
	166,400	Khon Kaen Sugar Industry PCL — Class C		73,292
	60,475	Krung Thai Bank PCL		35,713
	32,400	PTT Exploration & Production PCL		175,478
	10,011	PTT Global Chemical PCL — Class F		19,924
	19,900	PTT PCL		206,466
	71,200	Samart Corp. PCL — Class F		26,018
	240,000	Thai Beverage PCL		85,588
	31,700	Thai Vegetable Oil PCL — Class F		25,443
	39,600	Thanachart Capital PCL		47,804

				785,936


		Egypt — 1.5%
	4,317	Alexandria Mineral Oils Co.		55,088
	24,573	Commercial International Bank Egypt SAE		152,765
	7,933	Delta Sugar Co.		18,948

See Notes to Financial Statements.

198

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares			Value

*COMMON STOCKS — (Continued)**
		Egypt — (Continued)

	3,770	Eastern Tobacco	$	57,359
	1,620	Glaxo Smith Kline¹		3,141
	106,375	Orascom Telecom Holding SAE, GDR¹		319,657

				606,958


		Hungary — 1.1%
	23,878	OTP Bank PLC		453,220


		Czech Republic — 1.0%
	10,454	CEZ AS		385,429
	90	Komercni Banka AS		18,367

				403,796


		Mexico — 0.4%
	7,000	America Movil SAB de CV Series L, Sponsored ADR		177,030


		Colombia — 0.1%
	500	Ecopetrol SA, Sponsored ADR		29,605


		TOTAL COMMON STOCKS (Cost $35,876,805)		37,987,774


PREFERRED STOCKS — 7.6%

		Brazil — 5.0%
	15,300	AES Tiete SA, 12.39%		173,787
	16,621	Banco ABC Brasil SA, 4.07%		94,437
	11,200	Banco Daycoval SA, 9.06%		58,397
	4,400	Banco do Estado do Rio Grande do Sul, 5.69%		34,770
	3,600	Banco Indusval SA, 2.50%		11,947
	12,870	Banco Pine SA, 8.00%		89,980
	17,200	Bradespar SA, 6.22%		254,056
	100	Centrais Eletricas de Santa Catarina SA, 8.44%		1,464
	400	Cia de Saneamento do Parana, 3.54%		1,733
	7,100	Cia de Transmissao de Energia Electrica Paulista, 10.71%		113,786
	11,000	Cia Energetica de Sao Paulo, 8.54%		98,840
	2,600	Itau Unibanco Holding SA, ADR, 4.09%		37,908
	2,310	Itausa — Investimentos Itau SA, 3.50%		10,122
	36,000	Jereissati Participacoes SA, 6.77%		30,487
	37,600	Metalurgica Gerdau SA, 2.27%		421,347
	8,600	Parana Banco SA, 6.81%		57,332
	31,100	Vale SA, ADR, 6.33%		553,269

				2,043,662

See Notes to Financial Statements.

199

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Shares					Value

PREFERRED STOCKS — (Continued)

		Russia — 1.6%
	141	AK Transneft OAO, 1.22%			$	282,535
	637,000	Surgutneftegas OJSC, 10.49%				394,036

						676,571


		South Korea — 1.0%
	544	Samsung Electronics Co, Ltd., 0.70%				395,056


		TOTAL PREFERRED STOCKS (Cost $3,136,732)				3,115,289


WARRANTS — 0.0%

		Malaysia — 0.0%
	333	Coastal Contracts BHD, (Expires 07/18/16)¹				36
	780	HAP Seng Consolidated BHD, (Expires 08/09/16)¹				100

						136


		TOTAL WARRANTS (Cost $—)				136



Face
Amount


*REPURCHASE AGREEMENT — 0.4%**
$	178,591	With State Street Bank and Trust Co., dated 10/31/12, 0.01%, principal and interest in the amount of $178,591 due 11/1/12 (collateralized by a FHLMC security with a par value of $171,660 coupon rate of 4.000%, due 8/15/39, market value of $182,975)				178,591


		TOTAL REPURCHASE AGREEMENT (Cost $178,591)				178,591

TOTAL INVESTMENTS (Cost $39,192,128)⁴			100.0	%	$	41,281,790
LIABILITIES IN EXCESS OF OTHER ASSETS			(0.0	)		(9,813	)

NET ASSETS			100.0	%	$	41,271,977

See Notes to Financial Statements.

200

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


*		Percentages indicated are based on net assets.
¹		Non income-producing security.
²		Illiquid security.
³		Security is fair valued by management.
⁴		Aggregate cost for federal tax purposes was $39,204,113.
Abbreviations:
ADR — American Depositary Receipt
FHLMC — Federal Home Loan Mortgage Corporation
FSE — Frankfurt Stock Exchange
GDR — Global Depositary Receipt
REIT — Real Estate Investment Trust

See Notes to Financial Statements.

201

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

INDUSTRY DIVERSIFICATION

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

INDUSTRIES:
Commercial Banks		19.2	%	$	7,929,775
Oil, Gas & Consumable Fuels		13.8			5,706,097
Metals & Mining		8.4			3,452,955
Semiconductors & Semiconductor Equipment		5.0			2,069,029
Electrical Equipment		4.6			1,898,662
Food Products		4.6			1,885,072
Electric Utilities		4.3			1,753,837
Wireless Telecommunication Services		3.6			1,485,572
Insurance		3.5			1,455,872
Real Estate Management & Development		3.1			1,286,025
Computers & Peripherals		2.8			1,162,679
Chemicals		2.6			1,080,516
Automobiles		2.0			817,547
Machinery		1.8			742,547
Diversified Financial Services		1.6			668,880
Diversified Telecommunication Services		1.6			655,106
Industrial Conglomerates		1.5			620,254
Construction & Engineering		1.3			530,095
Electronic Equipment, Instruments & Components		1.3			523,921
Distributors		1.0			424,294
Independent Power Producers & Energy Traders		1.0			391,990
Building Products		0.9			370,084
Trading Companies & Distributors		0.9			359,459
Paper & Forest Products		0.9			352,052
Auto Components		0.7			305,919
Water and Sewer		0.6			263,205
Transportation Infrastructure		0.6			251,181
Household Durables		0.6			248,425
Textiles, Apparel & Luxury Goods		0.6			244,935
Capital Markets		0.6			235,562
Personal Products		0.6			234,823
Airlines		0.5			183,101
Specialty Retail		0.4			177,653
Communications Equipment		0.4			141,636
Gas Utilities		0.3			137,039
Media		0.3			136,267
Real Estate Investment Trusts		0.3			133,490
IT Services		0.3			107,132
Construction Materials		0.2			98,072
Beverages		0.2			85,588

See Notes to Financial Statements.

202

THE GLENMEDE FUND, INC.

Philadelphia International Emerging Markets Fund
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

On October 31, 2012, industry diversification of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

Office Electronics		0.2	%	$	83,389
Health Care Providers & Services		0.2			75,255
Tobacco		0.1			57,359
Marine		0.1			53,588
Leisure Equipment & Products		0.1			53,543
Thrifts & Mortgage Finance		0.1			48,682
Aerospace & Defense		0.1			45,182
Software		0.1			28,892
Health Care Equipment & Supplies		0.1			19,125
Commercial Services & Supplies		0.0			14,153
Energy Equipment & Services		0.0			9,630
Internet Software & Services		0.0			4,832
Pharmaceuticals		0.0			3,141
Containers & Packaging		0.0			80

TOTAL COMMON STOCKS, PREFERRED STOCKS AND WARRANTS		99.6	%	$	41,103,199
REPURCHASE AGREEMENTS		0.4			178,591

TOTAL INVESTMENTS		100.0	%	$	41,281,790

See Notes to Financial Statements.

203

THE GLENMEDE FUND, INC.

Notes to Financial Statements


1.	Organization and Significant Accounting Policies

The Glenmede Fund, Inc. (the “Fund”) consists of seventeen portfolios: the Government Cash Portfolio, the Tax-Exempt Cash Portfolio, the Core Fixed Income Portfolio, the Strategic Equity Portfolio, the Small Cap Equity Portfolio, the Large Cap Value Portfolio, the U.S. Emerging Growth Portfolio, the Large Cap 100 Portfolio, the Large Cap Growth Portfolio, the Long/Short Portfolio, the Total Market Portfolio, the Secured Options Portfolio, the International Secured Options Portfolio, the International Portfolio, the Philadelphia International Fund, the Philadelphia International Small Cap Fund, and the Philadelphia International Emerging Markets Fund (each, a “Portfolio” and collectively, the “Portfolios”). The Fund was incorporated in the State of Maryland on June 30, 1988, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. Since January 2, 1998, the Small Cap Equity Portfolio has consisted of two classes of shares: the Advisor Class and the Institutional Class. The International Secured Options Portfolio commenced operations on September 28, 2012.

Currently, the Philadelphia International Small Cap Fund and the Philadelphia International Emerging Markets Fund each have registered two classes of shares: Class I and Class IV. The Philadelphia International Small Cap Fund Class IV commenced operations on May 31, 2011, and the Philadelphia International Emerging Markets Fund Class IV commenced operations on June 30, 2011. As of the date hereof, Class I shares have not been issued.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S.”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The following is a summary of significant accounting policies consistently followed by the Portfolios in the preparation of their financial statements.

Valuation of Securities: As permitted under Rule 2a-7 of the 1940 Act, securities held by the Government Cash Portfolio and Tax-Exempt Cash Portfolio are valued by the “amortized cost” method of valuation, which approximates current value. Amortized cost valuation involves valuing an instrument at its cost initially and thereafter assuming a constant amortization to maturity of any discount or premium, regardless of the effect of fluctuating interest rates on the market value of the instrument. These valuations are typically categorized as Level 2 in the fair value hierarchy described below.

Equity securities and options listed on a U.S. securities exchange, including exchange traded funds, for which market quotations are readily available are valued at the last quoted sale price as of the close of the exchange’s regular trading hours on the day the valuation is made. These securities are typically categorized as Level 1 in the fair value hierarchy. Price information on listed securities is taken from the exchange where the securities are primarily traded. Securities traded on the NASDAQ System are valued at the NASDAQ Official Closing Price (“NOCP”) and are typically categorized as Level 1 in the fair value

204

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

hierarchy. Unlisted equity securities and listed securities not traded on the valuation date for which market quotations are readily available are valued at an amount that does not exceed the asked price and is not less than the bid price and are typically categorized as Level 2. If no sales are reported, exchange traded options are valued at the last bid price for purchased options and the last ask price for written options and are typically categorized as Level 2. Options traded over-the-counter are valued using prices supplied by dealers and are typically categorized as Level 2. Securities and options listed on a foreign exchange and unlisted foreign securities that are traded on the valuation date are valued at the last quoted sales price available before the time when assets are valued and are typically categorized as Level 1. Investments in open-end registered investment companies are valued at their respective net asset values as reported by such companies. These valuations are typically categorized as Level 1 in the fair value hierarchy.

Bonds and other fixed-income securities are valued at the most recent quoted bid price or, when exchange valuations are used, at the latest quoted sale price on the day of valuation. Such treasury securities are typically categorized as Level 1 in the fair value hierarchy and such other fixed income securities are typically characterized as Level 2. If there is no such reported sale, the latest quoted bid price is used and are typically categorized as Level 2. In addition, bond and other fixed-income securities may be valued on the basis of prices provided by a pricing service or by using a matrix or formula. In such instances, when the Portfolio’s investment advisor believes such prices reflect the fair market value of such securities and are based on observable inputs, these securities are typically categorized as Level 2. Debt securities purchased by non-money market Portfolios with maturities of 60 days or less at the time of purchase are valued at amortized cost and are typically categorized as Level 2.

When market quotations are not readily available or events occur that make established valuation methods unreliable, securities and other assets are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Board of Directors of the Fund (the “Board”) and are typically categorized as Level 3 in the fair value hierarchy. The fair value of securities is generally determined as the amount that a Portfolio could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security at a given point in time and does not reflect an actual market price, which may be different by a material amount. For the International Portfolio, the Philadelphia International Fund, Philadelphia International Small Cap Fund and Philadelphia International Emerging Markets Fund, the Board has authorized the use of an independent fair valuation service to provide the fair value for foreign equity securities on days when a change has occurred in the closing level of the S&P 500 Index by an amount approved by the Board from the previous trading day’s closing level and other criteria have been met. Philadelphia International Advisors LP reviews the fair values provided, reviews periodically the methodology and procedures used in providing values to the Portfolio and evaluates the accuracy of the prices provided by the fair valuation service. Securities using these valuation adjustments are generally categorized as Level 2.

205

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards ASC 820, “Fair Value Measurements” (“ASC 820”) defines fair value, establishes a three-level hierarchy for measuring fair value and expands disclosure about fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of each Portfolio’s investments. Inputs refer broadly to the assumptions that market participants would use in pricing a security. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. These inputs are summarized in the three levels listed below:

Level 1 — quoted prices in active markets for identical investments;

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, adjusted quoted prices on foreign equity securities and others) or valuations based on quoted prices in markets that are not active; and

Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities.

Changes in valuation techniques may result in changing an investment’s assigned level within the hierarchy.

The Strategic Equity Portfolio, Small Cap Equity Portfolio, Large Cap Value Portfolio, U.S. Emerging Growth Portfolio, Large Cap 100 Portfolio, Large Cap Growth Portfolio, Long/Short Portfolio, Total Market Portfolio, Secured Options Portfolio, and International Secured Options Portfolio had all investments with corresponding industries at Level 1 except repurchase agreements which were at Level 2, at October 31, 2012. The Government Cash Portfolio and Tax-Exempt Portfolio had all long-term and short-term investments with corresponding industries at Level 2 at October 31, 2012.

As of the year ended October 31, 2012, $166,306,471, $51,575,338, $1,530,861 and $722,061 in the International Portfolio, Philadelphia International Fund, Philadelphia International Small Cap Fund and the Philadelphia International Emerging Markets Fund respectively transferred from Level 2 to 1 due to substantially all foreign equity securities were no longer fair valued using valuations provided by an independant valuation service. A security in the Philadelphia International Emerging Markets Fund with a value of $1,771 trasferred from Level 3 to Level 1 due to no longer being fair valued. Transfers into and out of a level are recognized as of the actual date of the event or change in circumstances that caused the transfer.

The following is a summary of the inputs used as of October 31, 2012 in valuing the assets and liabilities of the Core Fixed Income Portfolio, International

206

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

Portfolio, Philadelphia International Fund, Philadelphia International Small Cap Fund and Philadelphia International Emerging Markets Fund:

Core Fixed Income Portfolio

ASSETS VALUATION INPUT


	Quoted
	Prices in
	Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Agency Notes
Federal Home Loan Mortgage Corporation	$	22,522,236	$	—	$	—	$	22,522,236
Federal National Mortgage Association		5,939,365		—		—		5,939,365

Total Agency Notes		28,461,601		—		—		28,461,601

Mortgage-Backed Securities
Federal Home Loan Mortgage Corporation		—		54,444,382		—		54,444,382
Federal National Mortgage Association		—		153,395,935		—		153,395,935
Government National Mortgage Association		—		12,217,001		—		12,217,001

Total Mortgage-Backed Securities		—		220,057,318		—		220,057,318

Corporate Notes		—		147,770,840		—		147,770,840
US Treasury Notes/Bonds		54,863,085		—		—		54,863,085
Municipal Bonds		—		8,601,473		—		8,601,473
Repurchase Agreements		—		17,360,047		—		17,360,047
Investment of Security Lending Collateral		6,064,480		—		—		6,064,480

Total Investments		89,389,166		393,789,678		—		483,178,844

Total	$	89,389,166	$	393,789,678	$	—	$	483,178,844

International Portfolio

ASSETS VALUATION INPUT


	Quoted
	Prices in
	Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stocks
United Kingdom	$	41,258,884	$	—	$	—	$	41,258,884
Germany		21,344,826		—		—		21,344,826
Japan		18,980,381		—		—		18,980,381

207

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)


	Quoted
	Prices in
	Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
France	$	13,166,941	$	—	$	—	$	13,166,941
Switzerland		11,099,447		—		—		11,099,447
Netherlands		8,227,896		—		—		8,227,896
Australia		7,321,284		—		—		7,321,284
South Korea		6,587,936		—		—		6,587,936
Norway		4,820,700		—		—		4,820,700
Brazil		3,544,883		—		—		3,544,883
Israel		2,857,694		—		—		2,857,694
China		2,804,023		—		—		2,804,023
Mexico		2,150,776		—		—		2,150,776
Sweden		1,998,576		—		—		1,998,576
Singapore		1,971,209		—		—		1,971,209
Italy		1,879,265		—		—		1,879,265
Finland		1,746,758		—		—		1,746,758
South Africa		1,462,778		—		—		1,462,778
Thailand		987,504		—		—		987,504

Total Common Stocks		154,211,761		—		—		154,211,761

Repurchase Agreements		—		2,615,850		—		2,615,850
Investment of Security Lending Collateral		5,882,434		—		—		5,882,434

Total Investments		160,094,195		2,615,850		—		162,710,045

Total	$	160,094,195	$	2,615,850	$	—	$	162,710,045

Philadelphia International Fund

ASSETS VALUATION INPUT


	Quoted
	Prices in
	Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stocks
United Kingdom	$	11,698,288	$	—	$	—	$	11,698,288
Germany		6,941,361		—		—		6,941,361
Japan		6,236,465		—		—		6,236,465
France		3,816,081		—		—		3,816,081
Switzerland		3,001,887		—		—		3,001,887
Netherlands		2,314,583		—		—		2,314,583
South Korea		1,953,408		—		—		1,953,408
Australia		1,518,238		—		—		1,518,238

208

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)


	Quoted
	Prices in
	Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Norway	$	1,441,891	$	—	$	—	$	1,441,891
Brazil		1,015,007		—		—		1,015,007
Israel		802,863		—		—		802,863
China		713,626		—		—		713,626
Mexico		691,724		—		—		691,724
Singapore		606,481		—		—		606,481
Italy		569,135		—		—		569,135
Sweden		560,310		—		—		560,310
Finland		489,733		—		—		489,733
South Africa		381,318		—		—		381,318
Thailand		233,306		—		—		233,306

Total Common Stocks		44,985,705		—		—		44,985,705

Repurchase Agreements		—		630,165		—		630,165
Investment of Security Lending Collateral		2,361,120		—		—		2,361,120

Total Investments		47,346,825		630,165		—		47,976,990

Total	$	47,346,825	$	630,165	$	—	$	47,976,990

Philadelphia International Small Cap Fund

ASSETS VALUATION INPUT


	Quoted
	Prices in
	Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stocks
Japan	$	1,815,398	$	—	$	—	$	1,815,398
United Kingdom		1,519,129		—		—		1,519,129
Australia		575,680		—		—		575,680
Germany		382,433		—		—		382,433
France		287,793		—		—		287,793
Switzerland		255,794		—		—		255,794
Hong Kong		214,353		—		2,039		216,392
Sweden		213,054		—		—		213,054
Singapore		200,463		—		—		200,463
Norway		199,125		—		—		199,125
Italy		176,611		—		—		176,611
Finland		133,385		—		—		133,385
Netherlands		122,527		—		—		122,527

209

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Notes to Financial Statements — (Continued)


	Quoted
	Prices in
	Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Denmark	$	104,208	$	—	$	—	$	104,208
Belgium		95,394		—		—		95,394
Israel		89,997		—		—		89,997
Ireland		86,584		—		—		86,584
Spain		85,002		—		—		85,002
Greece		77,549		—		—		77,549
New Zealand		57,261		—		—		57,261
Portugal		38,052		—		—		38,052
Austria		28,956		—		—		28,956

Total Common Stocks		6,758,748		—		2,039		6,760,787

Preferred Stocks
Germany		2,690		—		—		2,690
Italy		113		—		—		113
United Kingdom		—		372		—		372

Total Preferred Stocks		2,803		372		—		3,175

Mutual Funds
Australia		607		—		595		1,202

Total Mutual Funds		607		—		595		1,202

Repurchase Agreements		—		18,818		—		18,818

Total Investments		6,762,158		19,190		2,634		6,783,982

Total	$	6,762,158	$	19,190	$	2,634	$	6,783,982

Philadelphia International Emerging Markets Fund

ASSETS VALUATION INPUT


	Quoted
	Prices in
	Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stocks
China	$	7,126,094	$	—	$	0	$	7,126,094
South Korea		6,052,863		—		—		6,052,863
Taiwan		4,626,258		—		—		4,626,258
Brazil		3,810,905		—		1,359		3,812,264
Russia		1,625,564		1,943,301		—		3,568,865
South Africa		2,549,481		—		—		2,549,481
Poland		2,257,935		—		—		2,257,935

210

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Notes to Financial Statements — (Continued)


	Quoted
	Prices in
	Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Turkey	$	2,123,419	$	—	$	—	$	2,123,419
India		1,384,664		—		—		1,384,664
Malaysia		1,091,140		—		—		1,091,140
Hong Kong		938,246		—		—		938,246
Thailand		785,936		—		—		785,936
Egypt		606,958		—		—		606,958
Hungary		453,220		—		—		453,220
Czech Republic		403,796		—		—		403,796
Mexico		177,030		—		—		177,030
Colombia		29,605		—		—		29,605

Total Common Stocks		36,043,114		1,943,301		1,359		37,987,774
��
Preferred Stocks
Brazil		2,043,662		—		—		2,043,662
Russia		282,535		394,036		—		676,571
South Korea		395,056		—		—		395,056

Total Preferred Stocks		2,721,253		394,036		—		3,115,289

Warrants
Malaysia		136		—		—		136

Total Warrants		136		—		—		136

Repurchase Agreements		—		178,591		—		178,591

Total Investments		38,764,503		2,515,928		1,359		41,281,790

Total	$	38,764,503	$	2,515,928	$	1,359	$	41,281,790

The following tables include roll-forwards of the amounts for the year ended October 31, 2012 for long-term investments classified within Level 3.

International Portfolio


																	Net
																	Change in
																	Unrealized
																	Gain
																	(Loss) from
							Change in										Investments
	Balance as of		Accrued		Realized		Unrealized								Balance as of		Held at
Investments in	October 31,		Discounts		Gain		Gain								October 31,		October 31,
Securities	2011		(Premiums)		(Loss)		(Loss)			Purchases		Sales			2012		2012
COMMON STOCK
United Kingdom	$	35,493	$	0	$	0	$	(188	)	$	0	$	(35,305	)	$	0	$	0

Total	$	35,493	$	0	$	0	$	(188	)	$	0	$	(35,305	)	$	0	$	0

211

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Notes to Financial Statements — (Continued)

Philadelphia International Fund


																	Net
																	Change in
																	Unrealized
																	Gain
																	(Loss) from
								Change in									Investments
	Balance as of		Accrued		Realized			Unrealized							Balance as of		Held at
Investments in	October 31,		Discounts		Gain			Gain							October 31,		October 31,
Securities	2011		(Premiums)		(Loss)			(Loss)		Purchases		Sales			2012		2012
COMMON STOCK
United Kingdom	$	10,824	$	0	$	(58	)	$	0	$	0	$	(10,766	)	$	0	$	0

Total	$	10,824	$	0	$	(58	)	$	0	$	0	$	(10,766	)	$	0	$	0

Philadelphia International Small Cap Fund


																			Net
																			Change in
																			Unrealized
																			Gain
																			(Loss) from
								Change in											Investments
	Balance as of		Accrued		Realized			Unrealized									Balance as of		Held at
Investments in	October 31,		Discounts		Gain			Gain							Transfers out of		October 31,		October 31,
Securities	2011		(Premiums)		(Loss)			(Loss)		Purchases		Sales			Level 3		2012		2012
COMMON STOCK
Hong Kong	$	0	$	0	$	(1,009	)	$	95	$	9,717	$	(6,764	)	$	0	$	2,039	$	95
MUTUAL FUNDS
Australia	$	0	$	0	$	104		$	49	$	3,145	$	(2,703	)	$	0	$	595	$	49

Total	$	0	$	0	$	(905	)	$	144	$	12,862	$	(9,467	)	$	0	$	2,634	$	144

Philadelphia International Emerging Markets Fund


																		Net
																		Change in
																		Unrealized
																		Gain
																		(Loss) from
							Change in											Investments
	Balance as of		Accrued		Realized		Unrealized									Balance as of		Held at
Investments in	October 31,		Discounts		Gain		Gain						Transfers out of			October 31,		October 31,
Securities	2011		(Premiums)		(Loss)		(Loss)		Purchases		Sales		Level 3			2012		2012
COMMON STOCK
Brazil	$	0	$	0	$	0	$	2	$	1,357	$	0	$	0		$	1,359	$	2
China	$	0	$	0	$	0	$	0	$	0	$	0	$	0		$	0	$	(6,073	)
South Korea	$	1,771	$	0	$	0	$	0	$	0	$	0	$	(1,771	)	$	0	$	0

Total	$	1,771	$	0	$	0	$	2	$	1,357	$	0	$	(1,771	)	$	1,359	$	(6,071	)

Repurchase Agreements: Each Portfolio may engage in repurchase agreement transactions. Under the terms of a typical repurchase agreement, the Portfolio takes possession of an underlying debt obligation subject to an obligation of the seller to repurchase, and the Portfolio to resell the obligation at an agreed-upon price and time, thereby determining the yield during the Portfolio’s holding period. This arrangement results in a fixed rate of return that is not subject to market fluctuations during the Portfolio’s holding period. The seller’s

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Notes to Financial Statements — (Continued)

obligation is secured by collateral (underlying securities) segregated on behalf of the Portfolio. The value of the collateral at the time of execution must be at least equal to 102% of the total amount of the repurchase obligations, including interest. In the event of counterparty default, the Portfolio has the right to sell the collateral to offset losses incurred. There is a potential for loss to the Portfolio in the event the Portfolio is delayed or prevented from exercising its rights to dispose of the collateral securities, including the risk of a possible decline in the value of the underlying securities during the period while the Portfolio seeks to assert its rights. The Portfolio’s investment advisor, acting under the supervision of the Board, reviews the value of the collateral and the creditworthiness of those banks and dealers with which the Portfolio enters into repurchase agreements to evaluate potential risks.

Foreign Currency Translation: The books and records of each Portfolio are maintained in U.S. dollars. Foreign currencies, investments and other assets and liabilities are translated into U.S. dollars at the exchange rates prevailing at the end of the period, and purchases and sales of investment securities, income and expenses are translated at exchange rates prevailing on the dates of such transactions. Unrealized gains and losses that result from changes in foreign currency exchange rates have been included in the unrealized gains and losses on foreign currency translations. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date on investment securities transactions, foreign currency transactions and the difference between the amounts of interest and dividends recorded on the books of the Portfolio and the amount actually received. The portion of foreign currency gains and losses related to fluctuation in exchange rates between the purchase settlement date and subsequent sale trade date is included in realized gains and losses on investment transactions. The Portfolios do not isolate that portion of the results of operations resulting from changes in the foreign exchange rates on investments from the fluctuations in the market prices of securities held at the end of the period. Similarly, the Portfolios do not isolate the effect of changes in foreign exchange rates from the fluctuations in the market prices of portfolio securities sold during the period.

Foreign Securities: The Strategic Equity Portfolio, Small Cap Equity Portfolio, Large Cap Value Portfolio, U.S. Emerging Growth Portfolio, Large Cap 100 Portfolio, Large Cap Growth Portfolio, Long/Short Portfolio, Total Market Portfolio, Secured Options Portfolio, International Secured Options Portfolio, International Portfolio, Philadelphia International Fund, Philadelphia International Small Cap Fund and Philadelphia International Emerging Markets Fund may invest in foreign securities. Investing in securities of foreign companies and foreign governments involves special risks and considerations not typically associated with investing in securities of U.S. companies and the U.S. government. These risks include valuation of currencies and future adverse political and economic developments. Moreover, securities of some foreign companies and foreign governments and their markets may be less liquid and their prices more volatile than those of securities of comparable U.S. companies and the U.S. government. This is particularly true with respect to emerging markets in developing countries.

Options Transactions: The Strategic Equity Portfolio, Large Cap Value Portfolio, Long/Short Portfolio, Secured Options Portfolio, International Secured

213

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

Options Portfolio, Philadelphia International Emerging Markets Fund and Philadelphia Inernational Small Cap Fund are subject to equity price risk and may purchase or write covered call options or secured put options to hedge against changes in the value of securities the Portfolio owns or expects to own. The Secured Options Portfolio and International Secured Options Portfolio use option strategies also in an effort to earn options premiums and to provide more stable returns. These options may relate to particular securities or securities indices and may or may not be listed on a domestic securities exchange or issued by the Options Clearing Corporation. A call option gives the option holder the right to purchase the underlying security at a specified price until a specified date. A put option gives the option holder the right to sell the underlying security at a specified price until a specified date. The risk in writing a call option is that the Portfolio may forgo the opportunity of profit if the market price of the underlying security increases and the option is exercised. The risk in writing a put option is that the Portfolio may incur a loss if the market price of the underlying security decreases and the option is exercised. In addition, there is a risk the Portfolio may not be able to enter into a closing transaction because of an illiquid secondary market or, for over-the-counter options, because of the counterparty’s inability to perform. Portfolio assets covering written options cannot be sold while the option is outstanding, unless replaced by similar assets. A Portfolio also risks losing all or part of the cash paid for purchasing call and put options. The Portfolios may also write over-the-counter options where completing the obligation depends upon the credit standing of the other party. The Strategic Equity Portfolio, Large Cap Value Portfolio, Long/Short Portfolio, Philadelphia International Emerging Markets Fund and Philadelphia International Small Cap Fund did not enter into any options transactions during the year ended October 31, 2012. During the year ended October 31, 2012, the Secured Options Portfolio wrote and purchased put and call options and International Secured Options Portfolio wrote put and call options in an attempt to achieve their respective investment objective and strategies.

Written options are recorded in the Portfolio’s Statement of Assets and Liabilities as a liability to the extent of premiums received. Gains or losses are realized when the option transaction expires or closes. Cash collateral held by the Fund’s custodian and pledged to secure open written put option contracts are included in “Cash collateral on deposit at broker” in the Statement of Assets and Liabilities. If a written call option is exercised, the premium originally received is recorded as an addition to sales proceeds. If a written put option is exercised, the premium originally received is recorded as a reduction of cost. Realized gains and losses on purchased options, if any, are included with net realized gains and losses on investment transactions in the Portfolio’s Statement of Operations.

Information regarding transactions in written option contracts for the Secured Options Portfolio and the International Secured Options Portfolio for the year ended October 31, 2012 are included in Note 2.

Lending of Portfolio Securities: Each Portfolio, using State Street Bank and Trust Company (“State Street”) as its lending agent, may loan securities to qualified brokers and dealers in exchange for negotiated lenders’ fees. These fees are disclosed as “Income from security lending” in the Statement of Operations, net of expenses retained by State Street as compensation for its services

214

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

as lending agent. Each applicable Portfolio receives cash collateral, which may be invested by the lending agent in short-term instruments, in an amount at least equal to 102% (for loans of U.S. securities) or 105% (for loans of non-U.S. securities) of the market value of the loaned securities at the inception of each 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 Portfolio on the next business day. On behalf of the Long/Short Portfolio and Total Market Portfolio, some or all of the cash collateral may be used to finance short sales. As of October 31, 2012, 91.99% of the cash collateral received by the Total Market Portfolio was used to finance short sales. As of October 31, 2012, the cash collateral received by the Government Cash Portfolio, Core Fixed Income Portfolio, Strategic Equity Portfolio, Small Cap Equity Portfolio, Large Cap Value Portfolio, International Portfolio, Philadelphia International Fund, U.S. Emerging Growth Portfolio, Large Cap 100 Portfolio and Long/Short Portfolio and the remaining cash collateral received by the Total Market Portfolio was invested in the State Street Navigator Securities Lending Prime Portfolio, which is a 1940 Act money market fund. To the extent that advisory or other fees paid by the State Street Navigator Securities Lending Prime Portfolio are for the same or similar services as fees paid by the applicable Portfolio, there will be a layering of fees, which would increase expenses and decrease returns. Information regarding the value of the securities loaned and the value of the collateral at period end is included at the end of each applicable Portfolio’s Statement of Assets and Liabilities, Schedule of Portfolio Investments and Note 6. A Portfolio could experience a delay in recovering its securities and a possible loss of income or value if the borrower fails to return the securities when due. A Portfolio may also record realized gain or loss on securities deemed sold due to a borrower’s inability to return securities on loan. Such loans would involve risks of delay in receiving additional collateral in the event that the collateral decreased below the value of the securities loaned or risks of the loss of rights in the collateral should the borrower of the securities fail financially.

Securities Sold Short: The Long/Short Portfolio and Total Market Portfolio may engage in short sales, which are sales by the Portfolio of securities which have been borrowed from a third party on the expectation that the market price will decline. If the price of the securities declines, the Portfolio will make a profit by purchasing the securities in the open market at a lower price than the one at which it sold the securities. If the price of the securities increases, the Portfolio may have to cover its short positions at a higher price than the short sale price, resulting in a loss. Gains are limited to the price at which the Portfolios sold the security short, while losses are potentially unlimited in size. Each Portfolio pledges securities and/or other assets, which may include cash collateral from securities lending activities, to the lender as collateral. Proceeds received from short sales may be maintained by the lender as collateral or may be released to the Portfolio and used to purchase additional securities or for any other purpose. The “Short position flex fees” on the Statement of Operations are fees charged by the lender for releasing the cash proceeds to the Total Market Portfolio. The Portfolio is required to segregate an amount of cash, cash equivalents or other appropriate liquid marketable securities with the custodian in at least an amount equal to the current market value of the securities sold short (less any additional collateral held by the lender) and the amount of any securities lending cash collateral used to finance short sales until the Portfolio replaces a borrowed security. Depending on arrangements made with the lender or

215

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

custodian, the Portfolio may not receive any payments (including interest) on the deposits made with the lender or custodian. The Portfolio is liable to the buyer for any dividends payable on securities while those securities are in a short position. These dividends are recorded as an expense of the Portfolio. As of October 31, 2012, the Long/Short Portfolio and the Total Market Portfolio had pledged cash in the amount of $8,338,235 and $13,029,372 respectively, to State Street, as collateral for short sales. These amounts are included in the “Cash collateral on deposit at broker” on the Statement of Assets and Liabilities. In addition, State Street has a perfected security interest in each Portfolio’s assets.

Investment Company Securities and Exchange-Traded Funds: Subject to applicable regulatory requirements, all Portfolios may invest in shares of other registered investment companies, including exchange-traded funds (“ETFs”). Pursuant to orders issued by the SEC to certain ETFs, the Portfolios may seek to invest in ETFs beyond the statutory limitations, provided the Portfolio complies with certain conditions of the SEC orders. Some ETFs seek to track the performance of a particular market index. These indices include both broad-market indices and more narrowly-based indices, including those relating to particular sectors, markets, regions, or industries. However, some ETFs have an actively managed investment objective. ETF shares and closed-end fund shares are traded like traditional equity securities on a national securities exchange or NASDAQ. Each Portfolio will indirectly bear its proportionate share of any management fees and other expenses paid by such other investment companies, which will increase expenses and decrease returns.

Securities Transactions and Investment Income: Securities transactions are recorded as of the trade date. Realized gains and losses on investments sold are computed on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Dividend income for foreign securities is recorded on the ex-dividend date except that certain dividends from foreign securities are recorded as soon thereafter as the Portfolio is informed of the ex-dividend date. Interest income is recorded on the accrual basis and includes, when appropriate, amortization of premiums and accretion of discounts.

Securities purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after the trade date. Interest income is accrued based on the terms of the security on settlement date. Each Portfolio segregates assets with a current value at least equal to the amount of its when-issued purchase commitments. When-issued purchase commitments involve a risk of loss if the value of the security to be purchased declines prior to settlement date, or if the counterparty does not perform under the contract.

Dividends and Distributions to Shareholders: Dividends from net investment income, if any, of the Government Cash Portfolio and Tax-Exempt Cash Portfolio are declared each day the Portfolios are open for business and are paid monthly. Dividends from net investment income, if any, of the Core Fixed Income Portfolio are declared and paid monthly. Dividends from net investment income, if any, of the Strategic Equity Portfolio, Small Cap Equity Portfolio, Large Cap Value Portfolio, International Portfolio, Philadelphia International Fund, U.S. Emerging Growth Portfolio, Large Cap 100 Portfolio, Large Cap Growth Portfolio, Long/Short Portfolio, Total Market Portfolio, Secured Options Portfolio, International Secured Options Portfolio, Philadelphia International Emerging

216

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

Markets Fund and Philadelphia International Small Cap Fund are declared and paid quarterly. The Portfolios distribute any net realized capital gains on an annual basis. Additional distributions of net investment income and capital gains for each Portfolio may be made at the discretion of the Board in order to avoid a nondeductible excise tax under Section 4982 of the Internal Revenue Code, as amended (the “Code”).

Income and capital gains distributions are determined in accordance with income tax regulations which may differ from accounting principles generally accepted in the U.S. These differences are primarily due to differing treatments of income and gains on various investment securities held by each Portfolio, timing differences and differing characterization of distributions made by each Portfolio.

Income and Expense Allocation: Expenses which are not readily identifiable to a specific Portfolio are allocated among Portfolios taking into consideration, among other things, the nature and type of expenses and the relative size of the Portfolios. Investment income, realized and unrealized gains and losses, and certain fund-level expenses are borne pro rata on the basis of relative net assets by the holders of all classes of shares, except that each class bears certain expenses unique to that class such as shareholder servicing fees, and certain other class-specific expenses. Differences in class-level expenses may result in payment of different per share dividends by class.

Purchase Premiums and Redemption Fees: The Philadelphia International Small Cap Fund and the Philadelphia International Emerging Markets Fund may charge purchase premiums and redemption fees on subscriptions or redemptions, respectively. Currently, the Philadelphia International Small Cap Fund assesses purchase premiums and redemption fees of 0.50%; and the Philadelphia International Emerging Markets Fund assesses purchase premiums and redemption fees of 0.80%. A Portfolio may add, modify or discontinue any purchase premium or redemption fee at any time without notice. The purchase premium and redemption fee are paid by the purchasing or redeeming shareholder to and retained by the Portfolio to help offset estimated portfolio transaction costs and other related costs incurred by the Portfolio as a result of a purchase or redemption by allocating estimated transaction costs to the purchasing or redeeming shareholder. Such fees are retained by the Portfolios and included in proceeds from shares sold or deducted from cost of shares redeemed. For accounts held through Philadelphia International Advisors, LP (“PIA”), if PIA determines that any portion of a cash purchase or redemption, as applicable, is offset by a corresponding cash redemption or purchase occurring on the same day by a different investor, it ordinarily will waive or reduce the purchase premium or redemption fee with respect to that portion. PIA may also consider known cash flows out of or into the Portfolio when placing orders for purchases or redemptions of Portfolio shares by these accounts. PIA may also waive all or a portion of the purchase premium and/or redemption fee imposed by the Portfolio when PIA deems it equitable to do so.

It is likely that the purchase premium or redemption fee will not be waived or reduced for purchases and redemptions executed through certain approved brokers and other institutions (collectively “Institutions”) that transmit orders for purchases or redemptions to the Fund. Consequently, accounts held through PIA will tend to benefit more from waivers or reductions of the purchase premium

217

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

and redemption fee than shareholder accounts held through Institutions. Institutions will be asked to assess the purchase premium and redemption fee on their client accounts and remit these fees to the Portfolio. The application of the purchase premium and redemption fee may vary among Institutions and certain Institutions may be unable to assess these fees. There are no assurances that the Institutions will properly assess the purchase premium or redemption fee.

Federal Income Taxes: Each Portfolio intends to qualify as a regulated investment company by complying with the requirements of the Code, applicable to regulated investment companies, and by distributing substantially all of its taxable income to its shareholders. Therefore, no federal income tax provision is required. Income distributions and capital gain distributions are determined in accordance with income tax regulations which may differ from accounting principles generally accepted in the U.S.

“Accounting for Uncertainty in Income Taxes — an interpretation of FASB ASC 740” (“ASC 740”) clarifies the accounting for uncertainty in income taxes recognized in accordance with FASB ASC 740, “Accounting for Income Taxes.” This interpretation prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. It also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Each of the Portfolios’ federal tax returns filed in the 3-year period ended October 31, 2012 remains subject to examination by the Internal Revenue Service.

On October 31, 2012, the tax year end of the Fund, the following Portfolios had available capital loss carryforwards to be utilized in future periods to offset future capital gains through the indicated expiration dates as follows:


	Expiring October 31,
									Unlimited		Unlimited
Portfolio	2015		2016		2017		2018		(Short Term)		(Long Term)
Government Cash Portfolio	$	—	$	—	$	—	$	—	$	7,424	$	—
Tax-Exempt Cash Portfolio		—		—		—		800		—		—
U.S. Emerging Growth Portfolio		—		—		4,091,566		—		—		—
Large Cap 100 Portfolio		—		—		9,953,970		—		—		—
Large Cap Growth Portfolio		—		—		2,898,789		—		—		—
Long/Short Portfolio		3,120,723		404,939		5,227,189		—		—		—
Total Market Portfolio		—		—		9,623,733		—		—		—
International Portfolio		—		—		75,711,243		—		2,184,362		—
Philadelphia International Fund		—		—		85,635,585		—		655,926		197,000
Philadelphia International Small Cap Fund		—		—		—		—		230,018		66,362

During the year ended October 31, 2012, as permitted under federal income tax regulations, the Long/Short Portfolio elected to defer $112,384 of late year ordinary losses.

218

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

During the year ended October 31, 2012, the following Portfolios utilized capital loss carryforwards:


Strategic Equity Portfolio	$	3,926,212
Small Cap Equity Portfolio	$	3,355,951
Large Cap Value Portfolio	$	4,537,770
U.S. Emerging Growth Portfolio	$	248,463
Large Cap 100 Portfolio	$	6,063,951
Large Cap Growth Portfolio	$	2,927,178
Long/Short Portfolio	$	118,704
Total Market Portfolio	$	2,434,331
Philadelphia International Emerging Markets Fund	$	60,503

On December 22, 2010, the Regulated Investment Company Modernization Act of 2010 (the “Act”) was enacted. The Act modernizes several of the federal income and excise tax provisions related to RICs, and, with certain exceptions, is effective for taxable years beginning after December 22, 2010. In general, the provisions of the Act are effective for the Fund’s fiscal year ended October 31, 2012. However, the Act was effective with respect to the Philadelphia International Emerging Markets Fund and the Philadelphia International Small Cap Fund upon commencement of investment operations in 2011. Among the changes made are changes to the capital loss carryforward rules allowing for capital losses to be carried forward indefinitely. Rules in effect prior to the effective date of the Act limit the carryforward period to eight years. Capital loss carryforwards generated in taxable years beginning after effective date of the Act must be fully used before capital loss carryforwards generated in taxable years prior to effective date of the Act; therefore, under certain circumstances, capital loss carryforwards available as of the report date, if any, may expire unused.

As of October 31, 2012, the tax year end of the Fund, the components of distributable earnings on a tax basis were as follows:


	Undistributed		Undistributed		Undistributed		Total*
	Tax-exempt		Ordinary		Long-Term		Distributable
Portfolio	Income		Income		Gain		Earnings
Government Cash Portfolio	$	—	$	479	$	—	$	(6,495	)
Tax-Exempt Cash Portfolio		1,226		—		—		426
Core Fixed Income Portfolio		—		1,129,230		1,130,051		31,888,658
Strategic Equity Portfolio		—		63,541		1,637,747		41,859,058
Small Cap Equity Portfolio		—		74,704		3,902,878		42,156,756
Large Cap Value Portfolio		—		651,657		3,113,601		9,631,686
U.S. Emerging Growth Portfolio		—		—		—		(1,349,905	)
Large Cap 100 Portfolio		—		51,272		—		10,178,817

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	Undistributed		Undistributed		Undistributed		Total*
	Tax-exempt		Ordinary		Long-Term		Distributable
Portfolio	Income		Income		Gain		Earnings
Large Cap Growth Portfolio	$	—	$	—	$	—	$	7,918,726
Long/Short Portfolio		—		—		—		(6,987,331	)
Total Market Portfolio		—		—		—		(2,310,229	)
Secured Options Portfolio		—		14,655,714		26,171,035		41,438,797
International Secured Options Portfolio		—		30,102		55,586		95,130
International Portfolio		—		—		—		(70,206,782	)
Philadelphia International Fund		—		—		—		(83,430,768	)
Philadelphia International Small Cap Fund		—		43,207		—		(138,560	)
Philadelphia International Emerging Markets Fund		—		433,487		—		2,503,963

* Total Distributable Earnings are additionally comprised of Net Unrealized Appreciation/(Depreciation), Late Year Ordinary Loss Deferral, and Capital Loss Carryforwards, which are shown elsewhere in the Notes to Financial Statements.

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales, nontaxable dividends received from investments, and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies.

For the year ended October 31, 2012, Government Cash Portfolio’s, Tax-Exempt Cash Portfolio’s and Core Fixed Income Portfolio’s components of distributable earnings on a tax basis were equal to the components of distributable earnings on a book basis.

The tax character of distributions paid during the year ended October 31, 2012, was as follows:


							Return
	Tax		Ordinary		Long-Term		of
Portfolio	Exempt		Income*		Gains		Capital
Government Cash Portfolio	$	—	$	12,451	$	—	$	—
Tax-Exempt Cash Portfolio		1,534		—		—		—
Core Fixed Income Portfolio		—		12,177,225		6,423,074		—
Strategic Equity Portfolio		—		1,480,681		—		—
Small Cap Equity Portfolio		—		1,432,726		—		—
Large Cap Value Portfolio		—		1,089,435		—		—
U.S. Emerging Growth Portfolio		—		50,445		—		—
Large Cap 100 Portfolio		—		1,343,458		—		—
Large Cap Growth Portfolio		—		421,456		—		—
Total Market Portfolio		—		197,516		—		—

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							Return
	Tax		Ordinary		Long-Term		of
Portfolio	Exempt		Income*		Gains		Capital
Secured Options Portfolio	$	—	$	2,696,521	$	6,610,827	$	—
International Portfolio		—		4,875,733		—		92,753
Philadelphia International Fund		—		1,426,221		—		19,893
Philadelphia International Small Cap Fund		—		112,000		—		—
Philadelphia International Emerging Markets Fund		—		159,465		—		—

* For tax purposes short-term capital gains distributions, if any, are considered ordinary income distributions.

For the year ended October 31, 2012, permanent differences between financial and tax reporting, related primarily to paydowns, REITs, foreign currency gain/(loss), distribution reallocations, net operating losses, nontaxable dividends received from investments, and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies were identified and reclassified among the components of the Portfolio’s net assets as follows:


	Accumulated Net			Net Realized			Paid-In
Portfolio	Investment Income			Gain (Loss)			Capital
Core Fixed Income Portfolio	$	1,352,926		$	(1,352,926	)	$	—
Strategic Equity Portfolio		(103,260	)		104,361			(1,101	)
Small Cap Equity Portfolio		15,560			—			(15,560	)
U.S. Emerging Growth Portfolio		10,077			—			(10,077	)
Large Cap Growth Portfolio		(3,602	)		11,747			(8,145	)
Long/Short Portfolio		17,443			273			(17,716	)
Total Market Portfolio		30,667			3,840			(34,507	)
Secured Options Portfolio		2,772,711			(2,772,711	)		—
International Secured Options Portfolio		6,995			(6,995	)		—
International Portfolio		(231,189	)		323,942			(92,753	)
Philadelphia International Fund		(52,645	)		72,538			(19,893	)
Philadelphia International Small Cap Fund		(10,366	)		10,366			—
Philadelphia International Emerging Markets Fund		(86,078	)		86,078			—

As of October 31, 2012, aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value were as follows:


Portfolio	Appreciation		Depreciation		Net
Core Fixed Income Portfolio	$	29,740,356	$	110,979	$	29,629,377
Strategic Equity Portfolio		42,312,937		2,155,167		40,157,770
Small Cap Equity Portfolio		47,732,216		9,553,042		38,179,174
Large Cap Value Portfolio		7,186,159		1,319,731		5,866,428

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Portfolio	Appreciation		Depreciation		Net
U.S. Emerging Growth Portfolio	$	3,757,115	$	1,015,454	$	2,741,661
Large Cap 100 Portfolio		22,059,096		1,977,581		20,081,515
Large Cap Growth Portfolio		12,406,964		1,589,449		10,817,515
Long/Short Portfolio		2,638,739		760,835		1,877,904
Total Market Portfolio		8,986,536		1,673,032		7,313,504
Secured Options Portfolio		7,719,716		7,107,669		612,047
International Secured Options Portfolio		10,143		700		9,443
International Portfolio		17,740,322		10,034,531		7,705,791
Philadelphia International Fund		5,122,731		2,061,635		3,061,096
Philadelphia International Small Cap Fund		504,033		388,899		115,134
Philadelphia International Emerging Markets Fund		3,390,346		1,312,669		2,077,677

Other: In the normal course of business, the Fund enters into contracts that may include agreements to indemnify another party under given circumstances. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be, but have not yet been, made against the Fund. However, based on experience, the risk of material loss from such claims is considered to be remote.


2.	Financial Instruments and Hedging Activities

Transactions in written option contracts for the Secured Options Portfolio and the International Secured Options Portfolio for the year ended October 31, 2012, are as follows:

Secured Options Portfolio


	Number of			Premiums
	Contracts			Received
Options outstanding at October 31, 2011		3,175		$	6,523,597
Options written		62,989			109,250,194
Options terminated in closing purchase transactions		(17,929	)		(63,643,871	)
Options expired		(43,155	)		(45,593,988	)

Options outstanding at October 31, 2012		5,080		$	6,535,932

International Secured Options Portfolio


	Number of			Premiums
	Contracts			Received
Options outstanding at October 31, 2011		0		$	0
Options written		4,469			747,354
Options terminated in closing purchase transactions		(649	)		(108,669	)
Options expired		(288	)		(6,139	)

Options outstanding at October 31, 2012		3,532		$	632,546

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Notes to Financial Statements — (Continued)

Disclosures about Derivative Instruments and Hedging Activities: The Portfolios follow FASB ASC 815 “Disclosures about Derivative Instruments and Hedging Activities” (“ASC 815”). ASC 815 requires enhanced disclosures about the Portfolios’ use of, and accounting for, derivative instruments and the effect on the results of each Portfolio’s operations and financial position. At October 31, 2012 and during the period then ended, the Secured Options Portfolio and the International Secured Options Portfolio had the following derivatives and transactions in derivatives, grouped into appropriate risk categories, none of which have been designated as hedging instruments:

Secured Options Portfolio

Asset Derivatives


	Equity
	Contracts
	Risk		Total
Options Purchased¹	$	250,050,000	$	250,050,000

Total Value	$	250,050,000	$	250,050,000

Liability Derivatives


	Equity
	Contracts
	Risk			Total
Options Written²	$	(12,323,700	)	$	(12,323,700	)

Total Value	$	(12,323,700	)	$	(12,323,700	)

Realized Gain (Loss)


	Equity
	Contracts
	Risk			Total
Options Purchased³	$	(782,825	)	$	(782,825	)
Options Written⁴		51,872,790			51,872,790

Total Realized Gain (Loss)	$	51,089,965		$	51,089,965

Change In Appreciation (Depreciation)


	Equity
	Contracts
	Risk			Total
Options Purchased⁵	$	(411,601	)	$	(411,601	)
Options Written⁶		(7,052,990	)		(7,052,990	)

Total Change in Appreciation (Depreciation)	$	(7,464,591	)	$	(7,464,591	)

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Notes to Financial Statements — (Continued)

Number of Contracts, Notional Amounts or Shares/Units⁷


	Equity
	Contracts
	Risk			Total
Options Purchased		358,333			358,333
Options Written		(436,250	)		(436,250	)

International Secured Options Portfolio

Liability Derivatives


	Equity
	Contracts
	Risk			Total
Options Written²	$	(605,147	)	$	(605,147	)

Total Value	$	(605,147	)	$	(605,147	)

Realized Gain (Loss)


	Equity
	Contracts
	Risk		Total
Options Purchased³			$	—
Options Written⁴	$	65,243		65,243

Total Realized Gain (Loss)	$	65,243	$	65,243

Change In Appreciation (Depreciation)


	Equity
	Contracts
	Risk		Total
Options Purchased⁵	$	—	$	—
Options Written⁶		27,399		27,399

Total Change in Appreciation (Depreciation)	$	27,399	$	27,399

224

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Notes to Financial Statements — (Continued)

Number of Contracts, Notional Amounts or Shares/Units⁷


	Equity
	Contracts
	Risk			Total
Options Purchased		—			—
Options Written		(1,859	)		(1,859	)


		Additional disclosure about the Secured Options Portfolio’s and International Secured Options Portfolio’s use of options is provided above under the heading ‘Options Transactions‘.
¹		Statement of Assets and Liabilities location: Investments at value.
²		Statement of Assets and Liabilities location: Options written, at value.
³		Statement of Operations location: Amount is included in Net realized gain (loss) on Investment transactions.
⁴		Statement of Operations location: Amount is included in Net realized gain (loss) on Options written.
⁵		Statement of Operations location: Amount is included in Net change in unrealized gain (loss) of Investments.
⁶		Statement of Operations location: Amount is included in Net change in unrealized gain (loss) of Options written.
⁷		Amounts disclosed represents average number of contracts, notional amounts, or shares/unites outstanding for the months that the Portfolio held such derivatives during the period ended October 31, 2012.


3.	Investment Advisory Fee, Administration Fee and Other Related Party Transactions

Glenmede Investment Management LP (the “Advisor”), a wholly-owned subsidiary of The Glenmede Trust Company, N.A. (“Glenmede Trust”), serves as investment advisor to the Strategic Equity Portfolio, Large Cap Value Portfolio, International Portfolio, Government Cash Portfolio, Tax-Exempt Cash Portfolio, Core Fixed Income Portfolio, Small Cap Equity Portfolio, U.S. Emerging Growth Portfolio, Large Cap 100 Portfolio, Large Cap Growth Portfolio, Long/Short Portfolio, Total Market Portfolio, Secured Options Portfolio and International Secured Options Portfolio pursuant to investment management agreements with the Fund. Under these agreements, the Advisor manages the Portfolios, subject to the general supervision of the Board. Prior to January 1, 2007, investment advisory services were provided by Glenmede Trust’s wholly-owned subsidiary, Glenmede Advisers, Inc.

The Government Cash Portfolio and Tax-Exempt Cash Portfolio do not pay a management fee for advisory services. The investors in the Portfolios are clients of Glenmede Trust or its affiliated companies (“Affiliates”). Glenmede Trust or its Affiliates charge a fee directly to their clients for fiduciary, trust and/or advisory services. The actual annual fees (“Client Fees”) charged vary dependent on a number of factors, including the particular services provided to the client and are generally 1.25% or less of the client’s assets under management. Glenmede Trust and its Affiliates currently intend to exclude the portion of their clients’ assets invested in those Portfolios that pay a management fee to the Advisor when calculating Client Fees. The Small Cap Equity Portfolio, Strategic Equity Portfolio, Large Cap Value Portfolio, U.S. Emerging Growth Portfolio, Large Cap 100 Portfolio, Large Cap Growth Portfolio, Secured Options Portfolio and International

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Secured Options Portfolio each pay the Advisor management fees at the annual rate of 0.55% of such Portfolio’s average daily net assets. The Advisor has contractually agreed to waive a portion of its management fees and/or reimburse expenses to the extent that the International Secured Options Portfolio’s annual total operating expenses exceed 1.00% of such Portfolio’s average daily net assets (excluding Acquired Fund fees and expenses, brokerage commissions, extraordinary items, interest and taxes). The Advisor has contractually agreed to these waivers and/or reimbursements until at least October 31, 2013 which are included under the caption “Less expenses waived/reimbursed” in the Statement of Operations. Shareholders of the International Secured Options Portfolio will be notified if these waivers/reimbursements are discontinued after that date. The Core Fixed Income Portfolio and International Portfolio pay the Advisor management fees at the annual rate of 0.35% and 0.75%, respectively, of such Portfolio’s average daily net assets.

The Long/Short Portfolio and Total Market Portfolio pay the Advisor a management fee at the annual rate of 1.20% of such Portfolio’s average daily net assets. Since February 29, 2008, the Advisor has contractually agreed to waive a portion of its management fees so that after giving effect to such contractual waiver, the management fees for each of these Portfolios are 0.85%. The Advisor has also contractually agreed to waive an additional portion of its management fees and/or reimburse the Portfolios to the extent that total annual Portfolio operating expenses, as a percentage of the Portfolio’s daily average net assets, exceed 1.25% (excluding short-sale dividends, prime broker interest, brokerage commissions, taxes, interest and extraordinary expenses). The Advisor has contractually agreed to these waivers and/or reimbursements until at least February 28, 2013, which are included under the caption “Less expenses waived/reimbursed” in the Statement of Operations. Shareholders of the Portfolios will be notified if the waivers/reimbursements are discontinued after that date.

Philadelphia International Advisors, LP (“PIA”), a limited partnership in which Glenmede Trust is a limited partner, serves as investment advisor to the Philadelphia International Fund, Philadelphia International Emerging Markets Fund and Philadelphia International Small Cap Fund. The Philadelphia International Fund pays a management fee to PIA at the annual rate of 0.75% of the Portfolio’s average daily net assets. PIA has agreed to waive its fees to the extent necessary to ensure that the Portfolio’s total operating expenses do not exceed 1.00% of the Portfolio’s average daily net assets. Fees waived during the fiscal year ended October 31, 2012 are included under the caption “Less expenses waived/reimbursed” in the Statement of Operations. The Philadelphia International Emerging Markets Fund and the Philadelphia International Small Cap Fund each pay PIA management fees at the annual rate of 0.65% and 0.60% respectively, of such Portfolio’s average daily net assets. PIA has contractually agreed to waive a portion of its management fees and/or reimburse expenses (other than brokerage commissions, extraordinary items, interest, taxes and any other items as agreed by the Fund and PIA from time to time) to the extent the total annual operating expenses, as a percentage of average daily net assets, exceed 1.10% of Philadelphia International Small Cap Fund-Class IV average daily net assets, and 1.25% of Philadelphia International Emerging Markets Fund-Class IV average daily net assets. PIA has agreed to these waivers and/or reimbursements until at least February 28, 2013, which are included under the caption “Less expenses waived/reimbursed” in the Statements of Operation. Shareholders of

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THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

these Portfolios will be notified if the waivers/reimbursements are discontinued after that date.

PIA also serves as investment sub-advisor to the International Portfolio. The Advisor has agreed to pay PIA a fee for its sub-investment services to the International Portfolio, calculated daily and payable monthly, at the annual rate of 0.26% of the Portfolio’s average daily net assets.

The Institutional Class of Small Cap Equity Portfolio pays Glenmede Trust a shareholder servicing fee at the annual rate of 0.05% of such Portfolio’s average daily net assets. The Government Cash Portfolio, Tax-Exempt Cash Portfolio and Core Fixed Income Portfolio each pay Glenmede Trust a shareholder servicing fee at the annual rate of 0.10% of such Portfolio’s average daily net assets. Strategic Equity Portfolio, Large Cap Value Portfolio, Large Cap 100 Portfolio, Large Cap Growth Portfolio, Long/Short Portfolio, Total Market Portfolio, Secured Options Portfolio and International Secured Options Portfolio each pay Glenmede Trust a shareholder servicing fee at the annual rate of 0.20% of such Portfolio’s average daily net assets. The International Portfolio, U.S. Emerging Growth Portfolio and the Advisor Class of Small Cap Equity Portfolio each pay Glenmede Trust a shareholder servicing fee at the annual rate of 0.25% of such Portfolio’s average daily net assets. The Philadelphia International Fund is not subject to a shareholder servicing plan and, accordingly, pays no shareholder servicing fee. The Class IV shares of the Philadelphia International Emerging Markets Fund and the Class IV shares of the Philadelphia International Small Cap Fund each pay PIA a shareholder servicing fee at the annual rate of 0.02% of such Portfolio’s average daily net assets. The Advisor, Glenmede Trust and/or PIA may pay additional compensation out of their assets to selected institutions and other persons in connection with selling of shares and/or the servicing of Portfolio shareholders and other accounts managed by the Advisor, Glenmede Trust, or PIA.

Glenmede Trust has voluntarily agreed, on a temporary basis, to waive its shareholder servicing fee payable by the Government Cash Portfolio and Tax-Exempt Cash Portfolio and/or reimburse expenses to the extent necessary to prevent a negative yield. Glenmede Trust can terminate or modify this arrangement at any time. For the fiscal year ended October 31, 2012, Glenmede Trust waived $301,908 shareholder servicing fees it earned from the Government Cash Portfolio and $466,622 shareholder servicing fees it earned from the Tax-Exempt Cash Portfolio, and Glenmede Trust reimbursed $51,348 of expenses to the Tax-Exempt Cash Portfolio. The Fund will not pay Glenmede Trust at a later time for any amounts waived or reimbursed.

State Street serves as administrator, transfer agent, dividend-paying agent and custodian with respect to the Fund. The Fund pays State Street a fee based on the combined aggregate average daily net assets of the Portfolios and The Glenmede Portfolios, a registered investment company, plus transaction charges for certain transactions and out-of-pocket expenses. The fee is computed daily and paid monthly.

Foreside Compliance Services, LLC is paid an annual fee plus out-of-pocket expenses for the provision of personnel and services related to the Fund’s compliance program. The Fund’s Chief Compliance Officer is Managing Director of Foreside Compliance Services, LLC.

227

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

Quasar Distributors, LLC (“Quasar”) serves as distributor of the Portfolios’ shares. The distributor receives no fees from the Fund in connection with distribution services provided to the Fund. The Advisor and PIA, with respect to the Philadelphia International Fund, Philadelphia International Emerging Markets Fund and Philadelphia International Small Cap Fund, pay Quasar’s fees and out-of-pocket expenses for the distribution services it provides to the Fund.

Effective January 1, 2012, the Fund pays each Board member an annual fee of $45,000 plus $1,250 for each Board meeting attended and out-of-pocket expenses incurred in attending Board meetings, and the Audit Committee Chairman receives an annual fee of $2,000 for his services as Chairman of the Audit Committee. Prior to January 1, 2012, the annual fee was $39,000.

Expenses for the year ended October 31, 2012 include legal fees paid to Drinker Biddle & Reath LLP as legal counsel to the Fund and the independent directors. A partner of the law firm is Secretary of the Fund.


4.	Purchases and Sales of Securities

For the year ended October 31, 2012, cost of purchases and proceeds from sales of investment securities other than U.S. government securities, short-term securities and in-kind transactions were:


Portfolio	Purchases		Sales
Core Fixed Income Portfolio	$	43,988,102	$	86,799,562
Strategic Equity Portfolio		60,429,580		64,674,090
Small Cap Equity Portfolio		279,124,007		147,868,125
Large Cap Value Portfolio		154,077,686		175,267,898
U.S. Emerging Growth Portfolio		36,252,272		29,117,668
Large Cap 100 Portfolio		122,571,875		110,057,350
Large Cap Growth Portfolio		114,241,256		90,958,188
Long/Short Portfolio		30,106,750		30,850,184
Total Market Portfolio		94,746,992		95,063,719
Secured Options Portfolio		2,155,224,822		2,000,000,000
International Secured Options Portfolio		2,065,053		—
International Portfolio		89,224,448		196,986,774
Philadelphia International Fund		31,857,494		68,531,742
Philadelphia International Small Cap Fund		6,924,358		3,470,610
Philadelphia International Emerging Markets Fund		47,974,428		11,933,624

For the year ended October 31, 2012, cost of purchases and proceeds from sales of long-term U.S. government securities were:


Portfolio	Purchases		Sales
Core Fixed Income Portfolio	$	146,462,482	$	4,247,614


5.	Common Stock

Since the Government Cash Portfolio and the Tax-Exempt Cash Portfolio have sold shares, issued shares as reinvestments of dividends, and redeemed shares only at a constant net asset value of $1.00 per share, the number of shares represented by such sales, reinvestments and redemptions is the same as the

228

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

amounts shown below for such transactions. Changes in the capital shares outstanding were as follows:


	Year Ended			Year Ended
	10/31/12			10/31/11
Government Cash Portfolio:
Sold	$	4,093,822,573		$	4,891,684,699
Issued as reinvestment of dividends		65			516
Redeemed		(4,084,011,140	)		(4,827,824,728	)

Net increase	$	9,811,498		$	63,860,487

Tax-Exempt Cash Portfolio:
Sold	$	2,539,298,216		$	2,683,403,864
Redeemed		(2,445,432,852	)		(2,648,725,936	)

Net increase	$	93,865,364		$	34,677,928


	Year Ended						Year Ended
	10/31/12						10/31/11
	Shares			Amount			Shares			Amount
Core Fixed Income Portfolio:
Sold		12,729,510		$	147,900,111			5,682,901		$	65,243,302
Issued as reinvestment of dividends		632,780			7,235,545			63,491			727,192
Redeemed		(3,408,920	)		(39,590,041	)		(8,813,432	)		(100,314,415	)

Net increase (decrease)		9,953,370		$	115,545,615			(3,067,040	)	$	(34,343,921	)

Strategic Equity Portfolio:
Sold		1,350,824		$	24,893,645			1,572,421		$	27,564,469
Issued as reinvestment of dividends		4,340			81,475			4,357			75,996
Redeemed		(1,423,671	)		(26,430,480	)		(2,212,074	)		(39,222,034	)

Net decrease		(68,507	)	$	(1,455,360	)		(635,296	)	$	(11,581,569	)

Small Cap Equity Portfolio (Advisor Class):
Sold		10,213,721		$	180,287,598			7,371,117		$	127,723,966
Issued as reinvestment of dividends		44,329			796,330			2,458			36,225
Redeemed		(3,367,205	)		(58,881,524	)		(3,098,558	)		(51,333,356	)

Net increase		6,890,845		$	122,202,404			4,275,017		$	76,426,835

Small Cap Equity Portfolio (Institutional Class):
Sold		789,453		$	14,376,353			17,572		$	322,313
Issued as reinvestment of dividends		2,266			42,660			4			59
Redeemed		(47,596	)		(874,191	)		(3,150	)		(49,490	)

Net increase		744,123		$	13,544,822			14,426		$	272,882

229

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)


	Year Ended						Year Ended
	10/31/12						10/31/11
	Shares			Amount			Shares			Amount
Large Cap Value Portfolio:
Sold		4,083,312		$	40,611,128			7,951,647		$	80,994,566
Issued as reinvestment of dividends		46,487			461,751			19,282			184,531
Redeemed		(6,008,290	)		(61,954,649	)		(3,881,036	)		(39,444,073	)

Net increase (decrease)		(1,878,491	)	$	(20,881,770	)		4,089,893		$	41,735,024

U.S. Emerging Growth Portfolio:
Sold		1,319,667		$	9,779,721			605,524		$	4,232,246
Issued as reinvestment of dividends		237			1,690			—			—
Redeemed		(353,934	)		(2,542,270	)		(772,199	)		(5,184,885	)

Net increase (decrease)		965,970		$	7,239,141			(166,675	)	$	(952,639	)

Large Cap 100 Portfolio:
Sold		1,907,459		$	25,669,292			1,370,224		$	17,271,413
Issued as reinvestment of dividends		3,540			48,043			1,903			23,899
Redeemed		(959,107	)		(12,812,373	)		(1,673,952	)		(20,855,621	)

Net increase (decrease)		951,892		$	12,904,962			(301,825	)	$	(3,560,309	)

Large Cap Growth Portfolio:
Sold		2,319,590		$	33,962,947			1,671,219		$	22,961,335
Issued as reinvestment of dividends		3,953			55,578			1,827			24,435
Redeemed		(740,787	)		(10,731,435	)		(1,006,116	)		(13,383,723	)

Net increase		1,582,756		$	23,287,090			666,930		$	9,602,047

Long/Short Portfolio:
Sold		325,379		$	2,941,650			897,118		$	7,941,459
Redeemed		(459,256	)		(4,167,570	)		(626,475	)		(5,484,351	)

Net increase (decrease)		(133,877	)	$	(1,225,920	)		270,643		$	2,457,108

Total Market Portfolio:
Sold		1,515,541		$	13,831,286			1,850,633		$	17,169,999
Issued as reinvestment of dividends		3,839			35,782			356			3,116
Redeemed		(1,467,718	)		(14,156,012	)		(1,415,448	)		(12,767,612	)

Net increase		51,662		$	(288,944	)		435,541		$	4,405,503

Secured Options Portfolio:
Sold		7,860,085		$	99,282,685			12,682,881		$	151,885,486
Issued as reinvestment of dividends		777,399			9,297,702			367,447			4,266,060
Redeemed		(1,801,450	)		(22,890,945	)		(1,403,861	)		(16,517,255	)

Net increase		6,836,034		$	85,689,442			11,646,467		$	139,634,291

230

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)


	Year Ended						Year Ended
	10/31/12						10/31/11
	Shares			Amount			Shares			Amount
International Secured Options Portfolio¹:
Sold		2,082,659		$	21,044,463			—		$	—
Redeemed		(2,475	)		(25,000	)		—			—

Net increase		2,080,184		$	21,019,463			—		$	—

International Portfolio:
Sold		525,017		$	6,099,724			1,624,255		$	21,818,751
Issued as reinvestment of dividends		26,288			299,138			26,882			360,454
Redeemed		(9,921,590	)		(116,173,908	)		(8,250,259	)		(111,643,145	)

Net decrease		(9,370,285	)	$	(109,775,046	)		(6,599,122	)	$	(89,463,940	)

Philadelphia International Fund:
Sold		1,084,767		$	11,471,611			1,874,328		$	22,850,329
Issued as reinvestment of dividends		120,818			1,250,093			144,906			1,749,145
Redeemed		(4,678,308	)		(52,119,127	)		(3,143,994	)		(38,001,715	)

Net decrease		(3,472,723	)	$	(39,397,423	)		(1,124,760	)	$	(13,402,241	)

Philadelphia International Small Cap Fund (Class IV)²:
Sold		403,271		$	3,365,836			350,499		$	3,480,579
Issued as reinvestment of dividends		10,913			91,382			5,085			40,016
Redeemed		(63	)		(543	)		(4,154	)		(39,207	)

Net increase		414,121		$	3,456,675			351,430		$	3,481,388

Philadelphia International Emerging Markets Fund (Class IV)³:
Sold		4,452,773		$	36,049,999			254,721		$	2,570,304
Issued as reinvestment of dividends		17,135			147,710			—			—

Net increase		4,469,908		$	36,197,709			254,721		$	2,570,304

¹ The International Secured Options Portfolio commenced operations on September 28, 2012.

² The Philadelphia International Small Cap Fund commenced operations on May 31, 2011.

³ The Philadelphia International Emerging Markets Fund commenced operations on June 30, 2011.

For the year ended October 31, 2012, the Philadelphia International Small Cap Fund and the Philadelphia International Emerging Markets Fund received $16,375 and $288,400 in purchase premiums, respectively and did not receive redemption fees. If a Fund receives purchase premiums and/or redemption fees, they are included in the sold amount and/or the redeemed amount, respectively, in the tables above.

As of October 31, 2012, with the exception of the Philadelphia International Fund, Philadelphia International Emerging Markets Fund and Philadelphia International Small Cap Fund, Glenmede Trust, on behalf of its clients, holds of record

231

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Continued)

and has voting and/or investment authority over substantially all of the Portfolios’ outstanding shares. The following Portfolios have shareholders which, to the Fund’s knowledge, own beneficially 5% or more of the shares outstanding of the Portfolios as of October 31, 2012. The total percentage of the shares of a Portfolio held by such shareholders is as follows:


	5% or Greater Shareholders
	# of		% of
Portfolio	Shareholders		Shares Held
Government Cash Portfolio		3		18
Core Fixed Income Portfolio		1		15
Small Cap Equity Portfolio (Advisor Class)		2		53
Small Cap Equity Portfolio (Institutional Class)		2		100
Large Cap Value Portfolio		1		12
Large Cap Growth Portfolio		1		11
Total Market Portfolio		2		21
Secured Options Portfolio		1		16
International Secured Options Portfolio		1		76
International Portfolio		2		40
Philadelphia International Fund		4		90
Philadelphia International Small Cap Fund		5		93
Philadelphia International Emerging Markets Fund		1		94


6.	Lending of Portfolio Securities

As of October 31, 2012, the following Portfolios had outstanding loans of securities to certain approved brokers for which the Portfolios received collateral:


							% of Total
	Market Value of			Market Value of			Assets
Portfolio	Loaned Securities			Collateral			on Loan
Government Cash Portfolio	$	4,032,845		$	4,115,000			0.54
Core Fixed Income Portfolio		5,953,629			6,064,480			1.22
Small Cap Equity Portfolio		40,693,553			41,306,224			9.54
Large Cap Value Portfolio		3,171,108			3,276,683			3.94
U.S. Emerging Growth Portfolio		5,854,786			6,030,250			17.51
Large Cap 100 Portfolio		6,780,579			6,957,664			5.54
Long/Short Portfolio		4,189,087			4,281,947			15.97
Total Market Portfolio		13,916,049	*		14,162,572	**		19.41
International Portfolio		5,581,414			5,882,434			3.38
Philadelphia International Fund		2,242,804			2,361,120			4.60

* The market value of loaned securities for the financing of short sales was $12,804,308.

** The market value of collateral used for the financing of short sales was $13,029,372.

232

THE GLENMEDE FUND, INC.

Notes to Financial Statements — (Concluded)


7.	Recently Issued Accounting Pronouncements

Effective January 1, 2012, the Fund adopted Accounting Standards Update (ASU) No. 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in US GAAP and IFRS. The amendments in the ASU included new guidance for certain fair value measurement principles and disclosure requirements. The adoption of ASU 2011-04 had no impact on the Fund’s net assets. Applicable disclosures have been incorporated.

In December 2011, the Financial Accounting Standards Board issued Accounting Standard Update No. 2011-11, Disclosures about Offsetting Assets and Liabilities. The update creates new disclosure requirements requiring entities to disclose both gross and net information for derivatives and other financial instruments that are either offset in the Statement of Assets and Liabilities or subject to an enforceable master netting arrangement or similar agreement. The disclosure requirements are effective for interim and annual reporting periods beginning on or after January 1, 2013. Management is currently evaluating the impact of the update’s adoption on the Fund’s financial statement disclosures.


8.	Subsequent Event

Management has evaluated events and transactions subsequent to October 31, 2012 through the date the financial statements were available to be issued, for disclosure in the Fund’s financial statements and has determined that there are no material events that would require additional disclosure.

233

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of The Glenmede Fund, Inc. and Shareholders of Government Cash Portfolio, Tax-Exempt Cash Portfolio, Core Fixed Income Portfolio, Strategic Equity Portfolio, Small Cap Equity Portfolio, Large Cap Value Portfolio, International Portfolio, Philadelphia International Fund, U.S. Emerging Growth Portfolio, Large Cap 100 Portfolio, Large Cap Growth Portfolio, Long/Short Portfolio, Total Market Portfolio, Secured Options Portfolio, International Secured Options Portfolio, Philadelphia International Small Cap Fund, and Philadelphia International Emerging Markets Fund (the portfolios constituting The Glenmede Fund, Inc.):

In our opinion, the accompanying statements of assets and liabilities, including the schedules of portfolio investments, and the related statements of operations, of changes in net assets and of cash flows, and the financial highlights present fairly, in all material respects, the financial position of each of the portfolios constituting The Glenmede Fund Inc., (hereafter referred to as the “Fund”) at October 31, 2012, the results of each of their operations and cash flows for the year or period then ended, the changes in each of their net assets for each of the periods indicated, 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 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 October 31, 2012 by correspondence with the custodian and brokers, and the application of alternative auditing procedures where securities purchased had not been received, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

Boston, Massachusetts

December 19, 2012

234

THE GLENMEDE PORTFOLIOS

STATEMENTS OF ASSETS AND LIABILITIES

October 31, 2012


			New
	Muni		Jersey
	Intermediate		Muni
	Portfolio		Portfolio
Assets:
Investments¹:
Investments at value	$	211,610,529	$	43,916,449
Cash		17,263,248		1,548,172
Receivable for fund shares sold		319,010		140,000
Interest receivable		2,690,382		508,457
Prepaid expenses		7,141		1,515

Total assets		231,890,310		46,114,593


Liabilities:
Payable for fund shares redeemed		311,834		—
Payable for Trustees’ fees		1,545		331
Payable to Affiliate		30,604		6,140
Accrued expenses		54,951		11,902

Total liabilities		398,934		18,373


Net Assets	$	231,491,376	$	46,096,220

Net Assets consist of:
Par value ($0.001 of shares outstanding)		20,671		4,267
Paid-in capital in excess of par value		222,396,950		44,204,568
Undistributed net investment income		376,532		74,805
Accumulated net realized gain from investment transactions		21,997		—
Net unrealized appreciation on investments		8,675,226		1,812,580

Total Net Assets		231,491,376		46,096,220


Shares Outstanding		20,671,176		4,267,013


Net Asset Value Per Share	$	11.20	$	10.80



¹ Investment at cost	$	202,935,303	$	42,103,869

See Notes to Financial Statements.

235

THE GLENMEDE PORTFOLIOS

STATEMENTS OF OPERATIONS

For the Year Ended October 31, 2012


			New
	Muni		Jersey
	Intermediate		Muni
	Portfolio		Portfolio
Investment income:
Interest	$	4,599,506	$	981,812

Total investment income		4,599,506		981,812

Expenses:
Administration, transfer agent and custody fees		102,993		37,495
Professional fees		47,781		9,300
Shareholder report expenses		13,257		3,050
Shareholder servicing fees		282,283		61,982
Trustees’ fees and expenses		4,247		817
Registration and filing fees		5,890		4,390
Other expenses		28,404		5,747


Total expenses		484,855		122,781


Net investment income		4,114,651		859,031

Realized and unrealized gain (loss):
Net realized gain on:
Investment transactions		31,492		—

Net change in unrealized gain of:
Investments		3,908,995		649,580

Net realized and unrealized gain		3,940,487		649,580

Net increase in net assets resulting from operations	$	8,055,138	$	1,508,611

See Notes to Financial Statements.

236

THE GLENMEDE PORTFOLIOS

STATEMENTS OF CHANGES IN NET ASSETS

For the Year Ended October 31, 2012


				New
	Muni			Jersey
	Intermediate			Muni
	Portfolio			Portfolio
Increase (decrease) in net assets
Operations:
Net investment income	$	4,114,651		$	859,031
Net realized gain on:
Investment transactions		31,492			—
Net change in unrealized gain of:
Investments		3,908,995			649,580

Net increase in net assets resulting from operations		8,055,138			1,508,611
Distributions to shareholders from:
Net investment income		(4,022,453	)		(849,591	)
Net realized gain on investments		(86,242	)		(51,802	)
Net increase in net assets from capital share transactions		79,680,152			11,532,254

Net increase in net assets		83,626,595			12,139,472


NET ASSETS:
Beginning of year		147,864,781			33,956,748

End of year	$	231,491,376		$	46,096,220

Undistributed net investment income included in net assets at end of year	$	376,532		$	74,805


For the Year Ended October 31, 2011
				New
	Muni			Jersey
	Intermediate			Muni
	Portfolio			Portfolio
Increase (decrease) in net assets
Operations:
Net investment income	$	3,385,226		$	817,172
Net realized gain on:
Investment transactions		78,216			53,401
Net change in unrealized loss of:
Investments		(449,644	)		(292,694	)

Net increase in net assets resulting from operations		3,013,798			577,879
Distributions to shareholders from:
Net investment income		(3,380,287	)		(823,058	)
Net realized gain on investments		(27,068	)		(78,097	)
Net increase (decrease) in net assets from capital share transactions		3,148,929			(2,263,205	)

Net increase (decrease) in net assets		2,755,372			(2,586,481	)


NET ASSETS:
Beginning of year		145,109,409			36,543,229

End of year	$	147,864,781		$	33,956,748

Undistributed net investment income included in net assets at end of year	$	284,334		$	66,841

See Notes to Financial Statements.

237

THE GLENMEDE PORTFOLIOS

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	Muni Intermediate Portfolio
	For the Year Ended October 31,
	2012			2011			2010			2009			2008¹

Net asset value, beginning of year	$	10.95		$	10.96		$	10.69		$	10.05		$	10.35

Income from investment operations:
Net investment income		0.24			0.26			0.25			0.28			0.37
Net realized and unrealized gain (loss) on investments		0.26			(0.01	)		0.26			0.65			(0.33	)

Total from investment operations		0.50			0.25			0.51			0.93			0.04

Distributions to shareholders from:
Net investment income		(0.24	)		(0.26	)		(0.24	)		(0.29	)		(0.34	)
Net realized capital gains		(0.01	)		(0.00	)²		—			—			—

Total distributions		(0.25	)		(0.26	)		(0.24	)		(0.29	)		(0.34	)

Net asset value, end of year	$	11.20		$	10.95		$	10.96		$	10.69		$	10.05

Total return		4.60	%		2.37	%		4.85	%		9.40	%		0.38	%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	231,491		$	147,865		$	145,109		$	113,558		$	42,175
Ratio of operating expenses before reimbursements to net assets		0.26	%		0.27	%		0.28	%		0.31	%		0.32	%
Ratio of operating expenses after reimbursements to average net assets		0.26	%		0.27	%		0.28	%		0.31	%		0.29	%
Ratio of net investment income to average net assets		2.19	%		2.42	%		2.27	%		2.62	%		3.55	%
Portfolio turnover rate		10	%		10	%		20	%		32	%		38	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.
²		Amount rounds to less than $0.01 per share.

See Notes to Financial Statements.

238

THE GLENMEDE PORTFOLIOS

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each year


	New Jersey Muni Portfolio
	For the Year Ended October 31,
	2012¹			2011			2010			2009¹			2008¹

Net asset value, beginning of year	$	10.63		$	10.72		$	10.44		$	9.93		$	10.20

Income from investment operations:
Net investment income		0.22			0.25			0.25			0.29			0.38
Net realized and unrealized gain (loss) on investments		0.19			(0.07	)		0.28			0.53			(0.28	)

Total from investment operations		0.41			0.18			0.53			0.82			0.10

Distributions to shareholders from:
Net investment income		(0.22	)		(0.25	)		(0.25	)		(0.31	)		(0.37	)
Net realized capital gains		(0.02	)		(0.02	)		—			—			—

Total distributions		(0.24	)		(0.27	)		(0.25	)		(0.31	)		(0.37	)

Net asset value, end of year	$	10.80		$	10.63		$	10.72		$	10.44		$	9.93

Total return		3.90	%		1.76	%		5.17	%		8.35	%		0.95	%

Ratios to average net assets/ Supplemental data:
Net assets, end of year (in 000s)	$	46,096		$	33,957		$	36,543		$	31,877		$	17,506
Ratio of operating expenses before reimbursements to net assets		0.30	%		0.30	%		0.32	%		0.37	%		0.38	%
Ratio of operating expenses after reimbursements to average net assets		0.30	%		0.30	%		0.32	%		0.37	%		0.34	%
Ratio of net investment income to average net assets		2.08	%		2.36	%		2.42	%		2.84	%		3.69	%
Portfolio turnover rate		6	%		11	%		14	%		16	%		22	%


¹		Per share net investment income (loss) has been calculated using the average shares outstanding during the period.

See Notes to Financial Statements.

239

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Face
Amount			Value


*MUNICIPAL BONDS — 91.4%**

		Connecticut — 0.9%
$	1,800,000	Connecticut State, Economic Recovery, General Obligation Unlimited, Series A,
		5.000% due 1/1/15	$	1,978,020


		Florida — 5.1%
	2,000,000	Florida State, Board of Education, General Obligation Unlimited, Series A,
		5.000% due 1/1/14		2,108,660
	2,000,000	Florida State, Board of Education, General Obligation Unlimited, Series D,
		5.000% due 6/1/24		2,441,640
	1,390,000	Florida State, Water Pollution Control Financing, Corporation Revenue, Water Pollution Control,
		5.500% due 1/15/13		1,396,088
	2,550,000	Palm Beach County, Florida, Public Improvement Revenue,
		5.000% due 11/1/26		3,050,718
	1,400,000	Seacoast Utility Authority, FL, Water & Sewer Utility System Revenue, Refunding, Series A, (FGIC and NPFG Insured),
		5.500% due 3/1/14		1,485,120
	1,380,000	Winter Park, FL, Water & Sewer Revenue, (AMBAC Insured), Prerefunded 12/1/12 @ 100,
		5.250% due 12/1/14		1,385,824

				11,868,050


		Georgia — 1.4%
	1,745,000	Georgia State, General Obligation Unlimited, Series B, Prerefunded 4/1/17 @ 100,
		5.000% due 4/1/19		2,077,492
	1,200,000	Private Colleges and Universities Authority, GA, Revenue Bonds, Agnes Scott College, Refunding,
		4.000% due 6/1/13		1,223,592

				3,301,084


		Illinois — 3.0%
	3,500,000	Chicago, IL, General Obligation Unlimited, (AGMC Insured),
		5.000% due 1/1/26		3,953,075
	2,530,000	Naperville, IL, General Obligation Unlimited,
		4.000% due 12/1/21¹		2,984,767

				6,937,842

See Notes to Financial Statements.

240

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**

		Indiana — 0.4%
$	780,000	Indianapolis Local Public Improvement Bond Bank, Revenue Bonds, (AGMC Insured),
		5.000% due 2/1/18	$	935,189


		Kentucky — 1.6%
	3,000,000	Kentucky State, Property & Building Commission, Revenue Bonds, Refunding, Series A,
		5.000% due 8/1/19		3,674,670


		Maryland — 0.9%
	1,800,000	Maryland State, Street & Local Facilities Capital Improvements, General Obligation Unlimited, Prerefunded 3/1/16 @ 100,
		5.000% due 3/1/17		2,071,512


		Massachusetts — 2.4%
	2,675,000	Massachusetts State, College Building Authority, Revenue Bonds, Refunding, Series B,
		5.000% due 5/1/24		3,307,959
	2,000,000	Massachusetts State, General Obligation Limited, Refunding, Series B, (AGMC Insured),
		5.250% due 8/1/16		2,345,260

				5,653,219


		Michigan — 2.6%
	5,000,000	Michigan Finance Authority, Revenue Bonds, Refunding, Series B,
		5.000% due 1/1/21		6,091,200


		Minnesota — 2.4%
	4,390,000	Rochester, MN, General Obligation Unlimited, Refunding, Series A,
		5.000% due 2/1/22		5,591,938


		Nebraska — 1.4%
	2,660,000	Omaha, NE, Public Power District, Revenue Bonds, Series C,
		5.000% due 2/1/18		3,217,962

See Notes to Financial Statements.

241

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**

		New York — 8.4%
$	2,000,000	Metropolitan Transportation Authority, NY, Dedicated Tax Funds Revenue, Series A,
		4.000% due 11/15/18	$	2,336,080
	3,785,000	New York City, New York, City Transitional Finance Authority Revenue, Future Tax Secured Bond, Series D,
		5.000% due 11/1/22		4,578,942
	1,705,000	New York State, Environmental Facilities Corporation, Special Obligation Revenue, Riverbank State Park, Refunding, (CIFG Assurance N.A. Insured),
		5.000% due 4/1/15		1,875,193
	1,200,000	New York State, Dormitory Authority Revenue, State Supported Debt, Construction Service, Contract A,
		5.000% due 7/1/18		1,441,800
	4,000,000	New York State, Thruway Authority Personal Income Tax, Revenue Bonds, Series A,
		5.000% due 3/15/24		4,856,240
	4,375,000	Triborough Bridge and Tunnel Authority Revenue, Refunding, Series B, Prerefunded 11/15/12 @100,
		5.250% due 11/15/17		4,383,531

				19,471,786


		North Carolina — 5.2%
	1,000,000	Buncombe County, NC, Certificate Participation, Refunding, Series B,
		5.000% due 6/1/13		1,027,190
	5,000,000	North Carolina State Capital Improvement Obligation, Revenue Bonds, Series C,
		5.000% due 5/1/25		6,071,350
	5,000,000	Wake County, NC, General Obligation Unlimited, Series C,
		0.190% due 4/1/19		5,000,000

				12,098,540


		Ohio — 2.4%
	1,000,000	Ohio State, Common Schools, General Obligation Unlimited, Series B,
		5.000% due 3/15/13		1,017,680
	700,000	Ohio State, General Obligation Unlimited, (AGMC Insured),
		5.500% due 11/1/13		736,435

See Notes to Financial Statements.

242

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**
		Ohio — (Continued)

$	2,000,000	Ohio State, Higher Education, General Obligation Unlimited, Refunding, Series A,
		5.000% due 8/1/15	$	2,246,460
	1,500,000	Ohio State, Major New Street Infrastructure Project Revenue, Series 2007-1, (AGMC Insured),
		5.000% due 6/15/13		1,543,170

				5,543,745


		Oregon — 2.8%
	5,000,000	Oregon State Metro, General Obligation Unlimited, Series A,
		5.000% due 6/1/22		6,400,900


		Pennsylvania — 17.5%
	200,000	Allegheny County, PA, Higher Education Building Authority Revenue, Duquesne University, Series A, (FGIC and NPFG Insured),
		5.000% due 3/1/17		210,398
	1,700,000	Ambridge, PA, Area School District, General Obligation Unlimited, Prerefunded 11/1/14 @ 100, (NPFG Insured),
		5.500% due 11/1/29		1,871,564
	500,000	Boyertown, PA, Area School District, (AGMC Insured),
		5.000% due 10/1/17		550,765
	255,000	Bucks County, PA, Community College Authority, College Building Revenue, (County Guaranteed),
		4.750% due 6/15/18		306,773
	500,000	Central Bucks, PA, School District, General Obligation Unlimited, (NPFG Insured), Prerefunded 5/15/13 @ 100,
		5.000% due 5/15/16		512,895
	500,000	Conneaut, PA, School District, Refunding, Series B, (AGMC Insured),
		5.000% due 11/1/20		622,280
	305,000	Dauphin County, PA, Prerefunded 5/15/15 @ 100, Series B, (AMBAC Insured),
		5.000% due 11/15/17		340,694
	400,000	Delaware County, PA, Regional Water Quality Control Authority, Sewer, Prerefunded 5/1/14 @ 100 Revenue, (NPFG Insured),
		5.000% due 5/1/25		427,888
	215,000	Delaware River Joint Toll Bridge Commission Revenue, (NPFG Insured),
		5.250% due 7/1/16		222,052

See Notes to Financial Statements.

243

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**
		Pennsylvania — (Continued)

$	285,000	Delaware River Joint Toll Bridge Commission Revenue, Prerefunded 7/1/13 @ 100, (NPFG Insured),
		5.250% due 7/1/16	$	294,545
	265,000	Delaware Valley, PA, Regional Financial Authority, Local Government Revenue, (AMBAC Insured),
		5.500% due 8/1/18		310,734
	515,000	Dover, PA, Area School District, General Obligation Unlimited, (FGIC Insured),
		5.375% due 4/1/18		525,300
	1,000,000	East Stroudsburg, PA, Area School District, General Obligation Limited, (AGMC Insured),
		5.000% due 9/1/20		1,171,840
	325,000	Easton, PA, Area School District, General Obligation Limited, (AGMC Insured),
		5.000% due 4/1/17		382,613
	955,000	Erie County, PA, General Obligation Unlimited,
		5.000% due 9/1/16		1,106,100
	350,000	Hazleton, PA, Area School District, General Obligation Unlimited, (AGMC Insured),
		5.000% due 3/1/20		413,087
	600,000	Lehigh County, PA, General Obligation Unlimited, Series A,
		5.000% due 11/15/18		716,514
	500,000	Lehigh County, PA, General Purpose Hospital Revenue, Lehigh Valley Health Network, Series A, (AGMC Insured),
		5.000% due 7/1/16		566,795
	1,210,000	Manheim Township, PA, Area School District, General Obligation Limited, (AGC Insured),
		5.000% due 6/1/16		1,344,068
	435,000	Montgomery County, PA, Higher Education and Health Authority Revenue, Catholic Health East, Prerefunded 11/15/14 @100,
		5.500% due 11/15/24		478,691
	250,000	Montgomery County, PA, Higher Education and Health Authority Revenue, Dickinson College Project, Series FF1, (CIFG Assurance N.A. Insured),
		5.000% due 5/1/17		278,945
	1,500,000	Montgomery County, PA, Industrial Development Authority Revenue, New Regional Medical Control Project, (FHA Insured),
		5.000% due 2/1/18		1,744,020
	250,000	Moon Area School District, PA, General Obligation Unlimited, (AGMC State Aid Withholding),
		5.000% due 11/15/17		281,593

See Notes to Financial Statements.

244

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**
		Pennsylvania — (Continued)

$	90,000	Northampton, PA, Bucks County Municipal Authority, Sewer Revenue, Escrowed to Maturity,
		6.200% due 11/1/13	$	92,312
	500,000	Pennsylvania State Higher Educational Facilities Authority Revenue, University of Pennsylvania Health System, Series A, (AMBAC Insured),
		5.000% due 8/15/20		555,435
	750,000	Pennsylvania State Higher Educational Facilities Authority Revenue, University of Pennsylvania Health System, Series B,
		5.500% due 8/15/18		909,015
	700,000	Pennsylvania State Public School Building Authority, Lease Revenue, Philadelphia School District Project, Series A (AGMC Insured),
		5.000% due 6/1/18		783,986
	905,000	Pennsylvania State Public School Building Authority, Lease Revenue, Western Centertech School, (FSA Insured),
		5.000% due 2/15/15		992,441
	95,000	Pennsylvania State Public School Building Authority, Lease Revenue, Western Centertech School, Escrowed to Maturity, (FSA Insured),
		5.000% due 2/15/15		104,912
	1,500,000	Pennsylvania State Public School Building Authority, School Revenue, North Pennsylvania School District Project,
		5.000% due 3/1/16		1,706,715
	1,725,000	Pennsylvania State Public School Building Authority, School Revenue, Philadelphia School District Project, Prerefunded 6/1/13 @ 100, (AGMC Insured),
		5.250% due 6/1/24		1,775,128
	60,000	Pennsylvania State Turnpike Commission, Oil Franchise, Tax Revenue, Escrowed to Maturity, Series A, (AMBAC Insured),
		5.250% due 12/1/14		63,525
	1,000,000	Pennsylvania State, General Obligation Unlimited,
		5.250% due 7/1/14		1,081,350
	80,000	Pennsylvania State, General Obligation Unlimited, Series 2, Prerefunded 7/1/13 @ 100, (NPFG Insured),
		5.000% due 7/1/15		82,546
	750,000	Pennsylvania State, General Obligation Unlimited, Series A,
		5.000% due 8/1/16		872,527
	260,000	Pennsylvania State, General Obligation Unlimited, Unrefunded Balance, Series 2, (NPFG Insured),
		5.000% due 7/1/15		268,159

See Notes to Financial Statements.

245

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**
		Pennsylvania — (Continued)

$	3,000,000	Philadelphia, PA, Hospitals & Higher Education Facilities Authority Revenue, Series D. Childrens Hosp. Phila,
		5.000% due 7/1/28	$	3,532,440
	1,500,000	Philadelphia, PA, School District, General Obligation Limited, Series F (BHAC Insured),
		5.000% due 9/1/17		1,740,555
	5,000,000	Philadelphia, PA, School District, General Obligation Unlimited, Series G,
		0.200% due 9/1/30		5,000,000
	35,000	Ringgold, PA, School District, Escrowed to Maturity,
		6.200% due 1/15/13		35,431
	2,360,000	Tredyffrin-Easttown, PA, School District, General Obligation Limited,
		5.000% due 2/15/20		2,994,698
	1,500,000	University of Pittsburgh, PA, Commonwealth System of Higher Education Revenue, University Capital Project, Mandatory Put 9/15/13 @ 100,
		5.500% due 9/15/39		1,566,630
	1,425,000	Westmoreland County, PA, Municipal Authority, Municipal Service Revenue, Prerefunded to 8/15/15 @ 100, (AGMC Insured),
		5.250% due 8/15/25		1,616,591

				40,454,550


		Puerto Rico — 0.1%
	100,000	Puerto Rico Commonwealth Highway and Transportation Authority Revenue, Series J, Prerefunded 7/1/14 @ 100,
		5.000% due 7/1/34		107,808


		South Carolina — 2.4%
	2,500,000	Scago, Educational Facilities Corp. Revenue, Spartanburg School District No. 5 (AGMC Insured),
		5.000% due 4/1/15		2,722,775
	2,500,000	South Carolina State, Public Service Authority Revenue, Refunding, Series A, (FGIC and NPFG Insured),
		5.250% due 1/1/22		2,849,675

				5,572,450

See Notes to Financial Statements.

246

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**

		Tennessee — 7.5%
$	4,600,000	Memphis, TN, General Obligation Unlimited, Series D,
		5.000% due 7/1/19	$	5,703,448
	1,050,000	Metropolitan Government of Nashville and Davidson County, TN, General Obligation Unlimited, Refunding, Series D,
		5.000% due 7/1/17		1,252,146
	5,000,000	Tennessee State School Bond Authority, Higher Educational Facility, 2nd PG A, Revenue Bonds,
		4.000% due 5/1/21		5,613,600
	3,810,000	Tennessee State School Bond Authority, Higher Educational Facility, Revenue Bonds, Series C,
		5.000% due 5/1/19		4,668,317

				17,237,511


		Texas — 12.0%
	2,755,000	Dallas, TX, Refunding and Improvement, General Obligation Limited, Refunding,
		5.000% due 2/15/14		2,920,052
	3,000,000	Houston, TX, General Obligation Limited, Refunding, Public Improvement, Series B, (NPFG Insured), Prerefunded 3/1/14 @ 100,
		5.000% due 3/1/16		3,184,440
	2,370,000	Houston, TX, Utilities System Revenue, Refunding, First Lien, Series A, (NPFG Insured),
		5.250% due 5/15/17		2,835,184
	1,070,000	Humble, TX, Independent School District, General Obligation Unlimited, Refunding, Series A, (PSF Guaranteed),
		5.250% due 2/15/14		1,137,966
	1,000,000	Laredo, TX, Independent School District, General Obligation Unlimited, (PSF Guaranteed),
		5.000% due 8/1/14		1,080,560
	450,000	Northside, TX, Independent School District, General Obligation Unlimited, (PSF Guaranteed),
		5.000% due 2/15/14		477,139
	2,875,000	San Antonio, TX, Electric and Gas Revenue,
		5.000% due 2/1/21		3,411,159
	715,000	San Antonio, TX, General Obligation Limited,
		5.000% due 2/1/15		788,502
	2,615,000	Tarrant Regional Water District, Revenue Bonds, (FGIC Insured),
		4.450% due 3/1/23		2,883,482

See Notes to Financial Statements.

247

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**
		Texas — (Continued)

$	1,435,000	Texas State, Public Finance Authority, Building Revenue, Refunding, Texas Department Criminal Projects, (AMBAC Insured),
		5.000% due 2/1/13	$	1,451,833
	2,125,000	Texas State, Transportation Commission, Revenue Bonds,
		5.000% due 4/1/24		2,479,152
	2,600,000	Texas State, Water Financial Assistance, General Obligation Unlimited, Series B,
		5.000% due 8/1/23		3,171,142
	1,750,000	University of Texas, Revenue Bond, Financing System, Series A,
		5.000% due 8/15/16		2,039,100

				27,859,711


		Virginia — 3.5%
	4,000,000	Richmond, VA, General Obligation Unlimited, Series A,
		5.000% due 3/1/23		4,997,120
	1,500,000	Virginia College Building Authority, Educational Facilities Revenue,
		5.000% due 9/1/13		1,559,475
	1,500,000	Virginia State, Public Building Authority, Public Facilities Revenue, Refunding, Series B,
		5.000% due 8/1/13		1,553,565

				8,110,160


		Washington — 7.5%
	4,000,000	King County, WA, General Obligation Limited,
		5.000% due 7/1/20		5,025,160
	1,000,000	King County, WA, General Obligation Limited, (FGIC and NPFG), Prerefunded 1/1/15 @ 100,
		5.000% due 1/1/21		1,098,900
	2,000,000	NJB Properties, Lease Revenue, King County Washington Project, Series A, (County Guaranteed),
		5.000% due 12/1/18		2,297,700
	2,000,000	Seattle, WA, Drain & Wastewater Revenue, (NPFG Insured),
		4.375% due 2/1/26		2,151,920

See Notes to Financial Statements.

248

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012

Face

Amount

Value

MUNICIPAL BONDS* — (Continued)

Washington — (Continued)

3,290,000

Washington State, Various Purposes, General Obligation Unlimited, Series E,

5.000% due 2/1/20

4,024,427

2,500,000

Whatcom County, WA, School District No. 501, Refunding, (AGMC Insured),

5.000% due 12/1/15

2,834,575

17,432,682

TOTAL MUNICIPAL BONDS
(Cost $202,935,303)

211,610,529

TOTAL INVESTMENTS
(Cost $202,935,303)²

91.4

211,610,529

OTHER ASSETS IN EXCESS OF LIABILITIES

8.6

19,880,847

NET ASSETS

100.0

231,491,376


*		Percentages indicated are based on net assets.
¹		When-issued security.
²		Aggregate cost for federal tax purposes was $202,935,303.
Abbreviations:
AGC — Assurance Guaranty Corporation
AGMC — Assured Guaranty Municipal Corporation
AMBAC — American Municipal Bond Assurance Corporation
BHAC — Berkshire Hathaway Assurance Corporation
FGIC — Financial Guaranty Insurance Corporation
FHA — Federal Housing Administration
FSA — Financial Security Assurance
NPFG — National Public Finance Guarantee Corporation
PSF — Permanent School Fund

See Notes to Financial Statements.

249

THE GLENMEDE PORTFOLIOS

Muni Intermediate Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

CREDIT QUALITY

On October 31, 2012, credit quality of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

MOODY’S CREDIT RATING:
Aaa		20.1	%	$	46,196,738
Aa1		31.9			73,806,607
Aa2		14.5			33,597,488
Aa3		17.2			40,082,138
A1		0.2			525,300
A2		0.4			1,011,477
S&P’S CREDIT RATING:
AAA		2.2			4,948,552
AA-		1.9			4,423,093
AA		1.5			3,559,672
A+		0.1			278,945
A-		0.1			210,398
A		0.8			1,871,564
*NOT RATED		0.5			1,098,557

TOTAL MUNICIPAL BONDS		91.4	%	$	211,610,529

TOTAL INVESTMENTS		91.4	%	$	211,610,529


*		All securities that are not rated are deemed to be at least equivalent to A rating by the Investment Advisor.
¹		When-issued security.

See Notes to Financial Statements.

250

THE GLENMEDE PORTFOLIOS

New Jersey Muni Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS

October 31, 2012


Face
Amount			Value


*MUNICIPAL BONDS — 95.3%**

		Delaware — 2.4%
		Delaware River & Bay Authority, Development Revenue, (NPFG Insured):
$	500,000	5.000% due 1/1/17¹	$	546,715
	500,000	5.000% due 1/1/19¹		545,695

				1,092,410


		New Jersey — 91.7%
	460,000	Atlantic County, NJ, General Obligation Unlimited,
		5.000% due 2/1/16		522,275
	500,000	Bergen County, NJ, Improvement Authority Revenue, Bergen County Utilities, (County Guaranteed),
		4.500% due 12/15/19		587,205
	500,000	Bergen County, NJ, General Obligation Unlimited,
		4.000% due 10/15/14		535,360
	290,000	Cape May County, NJ, Municipal Utilities Authority Revenue, Refunding, Series A, (AGMC Insured),
		5.750% due 1/1/16		335,092
	100,000	Chatham Boro, NJ, General Obligation Unlimited, (AGMC Insured),
		3.750% due 12/15/13		103,348
	440,000	Clinton Township, NJ, Board of Education, General Obligation Unlimited,
		5.000% due 1/15/23		522,456
	440,000	Demarest, NJ, School District, (AGMC Insured),
		5.000% due 2/15/18		510,211
	125,000	Essex County, NJ, General Obligation Unlimited, (NPFG Insured), Escrowed to Maturity,
		5.000% due 5/1/13		127,993
	350,000	Essex County, NJ, General Obligation Unlimited, Series C,
		5.000% due 8/1/18		423,643
	300,000	Essex County, NJ, Improvement Authority Revenue, County Guaranteed, (AGC Insured),
		4.500% due 10/1/14		322,200
	250,000	Essex County, NJ, Improvement Authority Revenue, Guaranteed Lease, County Correctional, (FGIC Insured), Prerefunded 10/1/13 @ 100,
		4.500% due 10/1/23		259,770
	250,000	Essex County, NJ, Utilities Authority Revenue, Refunding, (AGC Insured),
		5.000% due 4/1/20		291,268
	700,000	Evesham, NJ, Municipal Utilities Authority, Revenue Bonds, Refunding,
		4.000% due 7/1/17		784,462

See Notes to Financial Statements.

251

THE GLENMEDE PORTFOLIOS

New Jersey Muni Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**
		New Jersey — (Continued)

$	655,000	Garden State Preservation Trust, NJ, Open Space and Farmland, Series A, (AGMC Insured), Prerefunded 11/1/15 @ 100,
		5.800% due 11/1/21	$	759,302
	500,000	Hunterdon, NJ, Central Regional High School District, General Obligation Unlimited,
		4.000% due 9/15/19		588,195
	850,000	Kingsway, NJ, Regional High School District, General Obligation Unlimited,
		3.000% due 2/1/24		894,642
	250,000	Lenape, NJ, Regional School District, General Obligation Unlimited, (FGIC and NPFG Insured),
		5.000% due 4/1/16		270,318
	700,000	Manalapan-Englishtown, NJ, Regional Board of Education, General Obligation Unlimited,
		4.000% due 10/1/23		793,016
	500,000	Maplewood Township, NJ, General Obligation Unlimited, Refunding (Township Guaranteed),
		5.000% due 10/15/19		619,770
	810,000	Marlboro Township, NJ, Municipal Utilities Authority, Revenue Bonds, Prerefunded 12/1/17 @ 100,
		4.500% due 12/1/21		961,211
	425,000	Mercer County, NJ, Improvement Authority Revenue, Courthouse Project, Series A, (County Guaranteed),
		5.000% due 4/1/16		487,211
	500,000	Mercer County, NJ, Improvement Authority Revenue, Refunding, (County Guaranteed),
		5.000% due 9/1/18		605,050
	250,000	Middlesex County, NJ, Improvement Authority Revenue Refunding, Open Space Trust Fund, (County Guaranteed),
		5.000% due 9/15/17		295,300
	330,000	Middlesex County, NJ, Improvement Authority Revenue, (County Guaranteed),
		5.125% due 12/15/27		382,130
	300,000	Monmouth County, NJ, Improvement Authority Revenue, Brookdale Community College, (County Guaranteed),
		4.000% due 8/1/16		337,425
		Monmouth County, NJ, Improvement Authority Revenue, Governmental Loan, (County Guaranteed):
	160,000	4.000% due 2/1/15		172,275
	500,000	5.000% due 12/1/21		607,740

See Notes to Financial Statements.

252

THE GLENMEDE PORTFOLIOS

New Jersey Muni Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**
		New Jersey — (Continued)

$	100,000	Monmouth County, NJ, Improvement Authority Revenue, Series A, (AMBAC Insured),
		5.250% due 12/1/16	$	109,978
	455,000	Montgomery Township, NJ, General Improvement,
		5.000% due 9/1/20		562,539
	375,000	Montgomery Township, NJ, General Obligation Unlimited,
		3.000% due 8/1/17		409,477
	335,000	Montgomery Township, NJ, Sewer Utilities, General Obligation Unlimited,
		5.000% due 9/1/20		414,177
		Morris County, NJ, General Obligation Unlimited:
	500,000	5.000% due 2/1/15		505,795
	400,000	5.000% due 9/15/22		495,656
	20,000	Mount Holly, NJ, Municipal Utilities Authority, Sewer Revenue, Unrefunded, (NPFG Insured),
		5.000% due 12/1/13		20,077
	395,000	Mount Olive Township, NJ, General Obligation Unlimited, (AMBAC Insured),
		5.000% due 8/15/14		427,394
	400,000	New Jersey Economic Development Authority Revenue, School Facilities, Series F, (FGIC and NPFG Insured), Prerefunded 6/15/13 @ 100,
		5.250% due 6/15/14		412,132
	400,000	New Jersey Economic Development Authority Revenue, School Facilities, Series U, (AGMC Insured),
		5.000% due 9/1/21		452,184
	360,000	New Jersey Economic Development Authority, Park Facilities Authority, Elizabeth Development Company, Series A, (AMBAC Insured),
		5.000% due 10/15/16		415,631
	450,000	New Jersey Economic Development Authority, School Facilities Construction, Series L, (AMBAC Insured),
		5.000% due 3/1/18		490,549
		New Jersey Environmental Infrastructure Trust Revenue, Series A:
	325,000	5.250% due 9/1/19		403,003
	340,000	4.000% due 9/1/19		396,321
	500,000	4.000% due 9/1/23		558,706
	250,000	New Jersey Health Care Facilities Financing Authority Revenue, Atlanticare Regional Medical Center,
		5.000% due 7/1/16		279,958

See Notes to Financial Statements.

253

THE GLENMEDE PORTFOLIOS

New Jersey Muni Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**
		New Jersey — (Continued)

$	400,000	New Jersey Health Care Facilities Financing Authority Revenue, Capital Health Systems Obligation Group, Series A, Prerefunded 7/1/13 @ 100,
		5.750% due 7/1/23	$	414,176
	300,000	New Jersey Health Care Facilities Financing Authority Revenue, St. Claires Hospital Inc., Series B, (NPFG Insured), Escrowed to Maturity,
		5.250% due 7/1/15		335,319
	65,000	New Jersey Sports & Exposition Authority State Contract, Revenue Bonds, Series A, Prerefunded 3/1/16 @100, (AMBAC Insured),
		5.000% due 3/1/17		74,828
	250,000	New Jersey State Educational Facilities Authority Revenue, College of New Jersey, Series D (AGMC Insured),
		5.000% due 7/1/19		298,490
	400,000	New Jersey State Educational Facilities Authority Revenue, Kean University, Series D (FGIC Insured), Prerefunded 7/1/13 @ 100,
		5.250% due 7/1/20		413,120
	600,000	New Jersey State Educational Facilities Authority Revenue, Montclair State University, Series F, (FGIC Insured), Prerefunded 7/01/15 @ 100,
		5.000% due 7/1/32		673,302
	850,000	New Jersey State Educational Facilities Authority Revenue, Montclair State University, Series F, (FGIC Insured), Prerefunded 7/1/15 @ 100,
		5.000% due 7/1/18		953,844
	205,000	New Jersey State Educational Facilities Authority Revenue, Princeton University,
		5.000% due 7/1/14		221,257
	450,000	New Jersey State Educational Facilities Authority Revenue, Rowan University, (FGIC Insured), Prerefunded 7/1/13 @ 100,
		5.125% due 7/1/21		464,386
	500,000	New Jersey State Educational Facilities Authority, Higher Education Capacity Improvement Revenue Bonds, Series A (AGMC Insured),
		5.000% due 9/1/14		539,250
	500,000	New Jersey State Educational Facilities Authority, Montclair State University, Series J, (NPFG Insured),
		5.250% due 7/1/17		591,260

See Notes to Financial Statements.

254

THE GLENMEDE PORTFOLIOS

New Jersey Muni Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**
		New Jersey — (Continued)

$	500,000	New Jersey State Educational Facilities Authority, Revenue, Higher Education Facilities Trust Fund, Series A, (AGMC Insured),
		5.000% due 9/1/16	$	559,205
	250,000	New Jersey State Educational Facilities Authority, Richard Stockton College, (AMBAC Insured),
		5.000% due 7/1/17		276,073
	100,000	New Jersey State Housing & Mortgage Finance Agency, Multi-Family Housing Revenue, Series E,
		3.875% due 5/1/13		101,527
		New Jersey State Transportation Trust Fund Authority, Series B, (NPFG Insured):
	400,000	5.500% due 12/15/15		458,288
	400,000	5.500% due 12/15/16		473,096
	350,000	New Jersey State Transportation Trust Fund Authority, Series C, (NPFG Insured), Prerefunded 6/15/15 @ 100,
		5.250% due 6/15/17		393,957
	250,000	New Jersey State Transportation Trust Fund Authority, Transit Revenue, Series A, (FGIC and NPFG Insured),
		5.000% due 6/15/17		285,920
	100,000	New Jersey State Transportation Trust Fund Authority, Transportation System, Series A, Escrowed to Maturity,
		5.500% due 6/15/13		103,252
	550,000	New Jersey State Transportation Trust Fund Authority, Transportation System, Series A, Escrowed to Maturity, (FGIC Insured),
		5.250% due 6/15/14		594,055
	360,000	New Jersey State Turnpike Authority, Turnpike Revenue, Refunded Balance, Series A, (NPFG Insured), Escrowed to Maturity,
		6.000% due 1/1/14		384,055
	400,000	New Jersey State Turnpike Authority, Turnpike Revenue, Series G,
		5.000% due 1/1/17		463,888
	690,000	New Jersey State, General Obligation Unlimited, Refunding, Series H,
		5.250% due 7/1/14		746,318
	435,000	New Jersey State, General Obligation Unlimited, Refunding, Series M, (AMBAC Insured),
		5.500% due 7/15/14		473,163
	285,000	New Jersey State, Turnpike Authority Revenue, Escrowed to Maturity,
		6.500% due 1/1/16		339,350

See Notes to Financial Statements.

255

THE GLENMEDE PORTFOLIOS

New Jersey Muni Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount			Value

*MUNICIPAL BONDS — (Continued)**
		New Jersey — (Continued)

$	400,000	Newark, NJ, Housing Authority Revenue, Port Authority, Newark Marine Terminal, (NPFG Insured), Prerefunded 1/1/14 @ 100,
		5.000% due 1/1/37	$	421,828
	580,000	Northern Highlands, NJ, Regional High School District, General Obligation Unlimited, Refunding,
		4.000% due 6/15/18		679,748
	710,000	Ocean City, NJ, Board of Education, General Obligation Unlimited, (NPFG Insured),
		5.000% due 4/1/16		810,820
	500,000	Ocean City, NJ, General Obligation Unlimited,
		4.000% due 8/15/19		592,005
	415,000	Ocean County, NJ, General Obligation Unlimited,
		5.000% due 6/1/18		507,346
	600,000	Pequannock Township, NJ, General Obligation Unlimited, (NPFG Insured),
		4.000% due 10/15/16		668,856
	1,340,000	Piscataway Township, NJ, General Obligation Unlimited,
		4.000% due 2/1/18		1,532,397
	550,000	Princeton Boro, NJ, General Obligation Unlimited,
		4.000% due 2/1/18		634,810
	600,000	Ramsey, NJ, School District, General Obligation Unlimited, Refunding,
		4.000% due 1/15/20		698,736
	680,000	Somerset County, NJ, Improvement Authority Government Capital Equipment, Revenue Bonds,
		4.000% due 3/15/17		768,924
		Tobacco Settlement Financing Corp., NJ, Revenue Bond, Prerefunded 6/1/13 @ 100:
	335,000	6.750% due 6/1/39		347,757
	225,000	7.000% due 6/1/41		233,883
	610,000	6.250% due 6/1/43		631,454
	400,000	Union County, NJ, General Obligation Unlimited,
		5.000% due 3/1/16		456,332
	500,000	Washington Township, NJ, Board of Education Gloucester County, General Obligation Unlimited, (NPFG Insured),
		5.000% due 2/1/15		505,460
	500,000	Wayne Township, NJ, General Obligation Unlimited, Refunding,
		4.000% due 9/1/18		582,520
	750,000	West Morris, NJ, Regional High School District, General Obligation Unlimited,
		4.500% due 5/1/23		906,772

See Notes to Financial Statements.

256

THE GLENMEDE PORTFOLIOS

New Jersey Muni Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Continued)

October 31, 2012


Face
Amount					Value

*MUNICIPAL BONDS — (Continued)**
		New Jersey — (Continued)

$	540,000	West Windsor Plainsboro, NJ, Regional School District, General Obligation Unlimited, Refunding, (AGMC Insured),
		5.000% due 9/15/15			$	608,272
	500,000	Woodbridge Township, NJ, General Obligation Unlimited, Refunding,
		5.000% due 7/15/24				584,545

						42,256,289


		Pennsylvania — 1.2%
	435,000	Delaware River Joint Toll Bridge Commission Revenue, (NPFG Insured),
		5.250% due 7/1/16¹				449,268
	115,000	Delaware River Joint Toll Bridge Commission, Revenue, Series A, (NPFG Insured),
		5.000% due 7/1/13¹				118,482

						567,750


		TOTAL MUNICIPAL BONDS (Cost $42,103,869)				43,916,449

TOTAL INVESTMENTS (Cost $42,103,869)²			95.3	%	$	43,916,449
OTHER ASSETS IN EXCESS OF LIABILITIES			4.7			2,179,771

NET ASSETS			100.0	%	$	46,096,220


*		Percentages indicated are based on net assets.
¹		This is a joint regional authority.
²		Aggregate cost for federal tax purposes was $42,103,869.
Abbreviations:
AGC — Assurance Guaranty Corporation
AGMC — Assured Guaranty Municipal Corporation
AMBAC — American Municipal Bond Assurance Corporation
FGIC — Financial Guaranty Insurance Corporation
NPFG — National Public Finance Guarantee Corporation

See Notes to Financial Statements.

257

THE GLENMEDE PORTFOLIOS

New Jersey Muni Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS — (Concluded)

October 31, 2012

CREDIT QUALITY

On October 31, 2012, credit quality of the Portfolio was as follows (Unaudited):


	% of
	Net Assets			Value

MOODY’S CREDIT RATING:
Aaa		16.3	%	$	7,440,480
Aa1		8.4			3,878,150
Aa2		11.8			5,492,860
Aa3		12.2			5,674,072
A1		12.8			5,840,470
A2		3.8			1,721,329
A3		1.7			803,237
Baa2		—			20,077
S&P’S CREDIT RATING:
AAA		6.4			2,908,251
AA+		6.2			2,825,909
AA-		4.3			2,001,643
AA		7.6			3,537,188
A+		1.0			485,582
*NOT RATED		2.8			1,287,201

TOTAL MUNICIPAL BONDS		95.3	%	$	43,916,449

TOTAL INVESTMENTS		95.3	%	$	43,916,449


*		All securities that are not rated are deemed to be at least equivalent to A rating by the Investment Advisor.
¹		This is a joint regional authority.

See Notes to Financial Statements.

258

THE GLENMEDE PORTFOLIOS

Notes to Financial Statements


1.	Organization and Significant Accounting Policies

The Glenmede Portfolios (the “Fund”) is an investment company that was organized as a Massachusetts business trust on March 3, 1992, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. As of October 31, 2012, the Fund offered shares of two Sub-Trusts, the Muni Intermediate Portfolio and the New Jersey Muni Portfolio (each, a “Portfolio” and collectively, the “Portfolios”). The New Jersey Muni Portfolio is classified as non-diversified and the Muni Intermediate Portfolio is classified as diversified.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S.”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The following is a summary of significant accounting policies consistently followed by each Portfolio in the preparation of its financial statements.

Valuation of Securities: Municipal obligations for which market quotations are readily available are valued at the most recent quoted bid price provided by investment dealers, provided that municipal obligations may be valued on the basis of prices provided by a pricing service when such prices are determined by the investment advisor to reflect the fair market value of such municipal obligations. These valuations are typically categorized as Level 2 in the fair value hierarchy described below. When market quotations are not readily available or events occur that make established valuation methods unreliable, municipal obligations are valued in a manner which is intended to reflect their fair value as determined in accordance with procedures approved by the Board of Trustees of the Fund (the “Board”) and are typically categorized as Level 3 in the fair value hierarchy. The fair value of securities is generally determined as the amount that a Portfolio could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security at a given point in time and does not reflect an actual market price, which may be different by a material amount. Debt obligations with maturities of 60 days or less at the time of purchase are valued on the basis of amortized cost and are typically categorized as Level 2 in the fair value hierarchy.

259

THE GLENMEDE PORTFOLIOS

Notes to Financial Statements — (Continued)

liability based on the best information available in the circumstances. These inputs are summarized in the three levels listed below:

Level 1 — quoted prices in active markets for identical investments;

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk and others) or valuations based on quoted prices in markets that are not active; and

Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities.

Changes in valuation techniques may result in changing an investment’s assigned level within the hierarchy.

The Muni Intermediate Portfolio and New Jersey Muni Portfolio had all long-term investments, with corresponding sectors at Level 2 at October 31, 2012. For the year ended October 31, 2012, there were no transfers between Level 1 and 2.

Municipal Securities: The value of, payment of interest on, repayment of principal for, and the ability to sell a municipal security may be affected by constitutional amendments, legislation, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located.

Since many municipal securities are issued to finance similar projects, especially those relating to education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal securities market and a Portfolio’s investments in municipal securities.

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

Securities Transactions and Investment Income: Securities transactions are recorded as of the trade date. Realized gains and losses on investments sold are computed on the basis of identified cost. Interest income is recorded on the accrual basis and includes, when appropriate, amortization of premiums and accretion of discounts.

Dividends and Distributions to Shareholders: Dividends from net investment income, if any, are declared and paid monthly. The Portfolios distribute any net realized capital gains on an annual basis. Additional distributions of net investment income and capital gains for each Portfolio may be made at the discretion

260

THE GLENMEDE PORTFOLIOS

Notes to Financial Statements — (Continued)

of the Board in order to avoid a nondeductible excise tax under Section 4982 of the Internal Revenue Code, as amended (the “Code”).

Federal Income Taxes: Each Portfolio intends to qualify as a regulated investment company by complying with the requirements of the Code, applicable to regulated investment companies, and by distributing substantially all of its tax-exempt (and taxable, if any) income to its shareholders. Therefore, no federal income tax provision is required. Income distributions and capital gains distributions are determined in accordance with income tax regulations which may differ from accounting principles generally accepted in the U.S.

On December 22, 2010, the Regulated Investment Company Modernization Act of 2010 (the “Act”) was enacted. The Act modernizes several of the federal income and excise tax provisions related to RICs, and, with certain exceptions, is effective for taxable years beginning after December 22, 2010. In general, the provisions of the Act are effective for the Fund’s fiscal year ended October 31, 2012. Among the changes made are changes to the capital loss carryforward rules allowing for capital losses to be carried forward indefinitely. Rules in effect prior to the effective date of the Act limit the carryforward period to eight years. Capital loss carryforwards generated in taxable years beginning after effective date of the Act must be fully used before capital loss carryforwards generated in taxable years prior to effective date of the Act; therefore, under certain circumstances, capital loss carryforwards available as of the report date, if any, may expire unused.

261

THE GLENMEDE PORTFOLIOS

Notes to Financial Statements — (Continued)

As of October 31, 2012, the tax year end of the Fund, the components of distributable earnings on a tax basis were as follows:


	Undistributed		Undistributed		Undistributed		Total*
	Tax-exempt		Ordinary		Long-Term		Distributable
Portfolio	Income		Income		Gain		Earnings
Muni Intermediate Portfolio	$	376,532	$	—	$	21,997	$	9,073,755
New Jersey Muni Portfolio		74,805		—		—		1,887,385

* Total Distributable Earnings are additionally comprised of Net Unrealized Appreciation/(Depreciation) and Capital Loss Carryforwards, which are shown elsewhere in the Notes to Financial Statements.

For the year ended October 31, 2012, Muni Intermediate Portfolio’s and New Jersey Muni Portfolio’s components of distributable earnings on a tax basis were equal to the components of distributable earnings on a book basis.

As of October 31, 2012, the tax characterization of distributions paid during the year was equal to the book characterization of distributions paid for the Portfolios and was as follows:


							Return
	Tax		Ordinary		Long-Term		of
Portfolio	Exempt		Income*		Gains		Capital
Muni Intermediate Portfolio	$	4,022,226	$	227	$	86,242	$	—
New Jersey Muni Portfolio		851,067		—		50,326		—

For the year ended October 31, 2012, permanent differences between financial and tax reporting, related primarily to distribution reallocations, were identified and reclassified among the components of the Portfolio’s net assets as follows:


	Accumulated Net			Net Realized
Portfolio	Investment Income			Gain (Loss)
New Jersey Muni Portfolio	$	(1,476	)	$	1,476


2.	Investment Advisory Fee, Administration Fee and Other Related Party Transactions

Glenmede Investment Management LP (the “Advisor”), a wholly-owned subsidiary of The Glenmede Trust Company, N.A. (“Glenmede Trust”), serves as investment advisor to the Muni Intermediate Portfolio and New Jersey Muni Portfolio, pursuant to an investment management agreement with the Fund. Under this agreement, the Advisor manages the Portfolios, subject to the general supervision of the Board. Prior to January 1, 2007, investment advisory services

262

THE GLENMEDE PORTFOLIOS

Notes to Financial Statements — (Continued)

were provided by Glenmede Trust’s wholly-owned subsidiary, Glenmede Advisers, Inc.

Muni Intermediate Portfolio and New Jersey Muni Portfolio do not pay a management fee for advisory services. The investors in the Portfolios are the clients of Glenmede Trust or its affiliated companies (“Affiliates”). Glenmede Trust or its Affiliates charge a fee directly to their clients for fiduciary, trust and/or advisory services. The actual annual fees charged vary dependent on a number of factors, including the particular services provided to the client, and are generally 1.25% or less of the clients’ assets under management.

The Muni Intermediate Portfolio and New Jersey Muni Portfolio each pay Glenmede Trust shareholder servicing fees at the annual rate of 0.15% of such Portfolio’s average daily net assets.

State Street Bank and Trust Company (“State Street”) serves as administrator, transfer agent, dividend-paying agent and custodian with respect to the Fund. The Fund pays State Street a fee based on the combined aggregate average daily net assets of the Portfolios and The Glenmede Fund, Inc., a registered investment company, plus transaction charges for certain transactions and out-of-pocket expenses. The fee is computed daily and paid monthly.

Foreside Compliance Servics, LLC is paid an annual fee plus out-of-pocket expenses for the provision of personnel and services related to the Fund’s compliance program. The Fund’s Chief Compliance Officer is a Managing Director of Foreside Compliance Services, LLC.

The Fund pays each Board member an annual fee of $1,000 and out-of-pocket expenses incurred in attending Board meetings.

Expenses for the year ended October 31, 2012 include legal fees paid to Drinker Biddle & Reath LLP as legal counsel to the Fund and the independent trustees. A partner of the law firm is Secretary of the Fund.


3.	Purchases and Sales of Securities

For the year ended October 31, 2012, cost of purchases and proceeds from sales of investment securities other than U.S. government securities and short-term securities were:


Portfolio	Purchases		Sales
Muni Intermediate Portfolio	$	82,883,546	$	17,742,467
New Jersey Muni Portfolio		13,199,726		2,478,370

As of October 31, 2012, aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost and aggregate gross

263

THE GLENMEDE PORTFOLIOS

Notes to Financial Statements — (Continued)

unrealized depreciation for all securities in which there was an excess of tax cost over value were as follows:


Portfolio	Appreciation		Depreciation		Net
Muni Intermediate Portfolio	$	8,749,523	$	74,297	$	8,675,226
New Jersey Muni Portfolio		1,818,529		5,949		1,812,580


4.	Shares of Beneficial Interest

The Fund may issue an unlimited number of shares of beneficial interest with a $.001 par value. Changes in shares of beneficial interest outstanding were as follows:


	Year Ended						Year Ended
	10/31/12						10/31/11
	Shares			Amount			Shares			Amount
Muni Intermediate Portfolio:
Sold		10,193,337		$	113,372,446			4,616,562		$	50,147,936
Issued as reinvestment of dividends		7,826			86,242			2,528			27,068
Redeemed		(3,034,077	)		(33,778,536	)		(4,356,630	)		(47,026,075	)

Net increase		7,167,086		$	79,680,152			262,460		$	3,148,929

New Jersey Muni Portfolio:
Sold		1,381,541		$	14,853,057			406,441		$	4,298,791
Issued as reinvestment of dividends		4,850			51,802			7,444			78,097
Redeemed		(313,576	)		(3,372,605	)		(629,423	)		(6,640,093	)

Net increase (decrease)		1,072,815		$	11,532,254			(215,538	)	$	(2,263,205	)

As of October 31, 2012, Glenmede Trust, on behalf of its clients, holds of record and has voting and/or investment authority over substantially all of the Portfolios’ outstanding shares. None of Portfolios had any shareholders that owned beneficially 5% or more of the shares outstanding of the Portfolios as of October 31, 2012.


5.	Concentration of Credit

The New Jersey Muni Portfolio primarily invests in debt obligations issued by the State of New Jersey and its political subdivisions, agencies, instrumentalities and authorities, including regional governmental authorities, to obtain funds for various purposes.

The New Jersey Muni Portfolio is more susceptible to factors adversely affecting issuers of the region that the Portfolio invests in than is a municipal bond fund that is not concentrated in these issuers to the same extent.

264

THE GLENMEDE PORTFOLIOS

Notes to Financial Statements — (Concluded)


6.	Recently Issued Accounting Pronouncements


7.	Subsequent Event

265

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Trustees of The Glenmede Portfolios and Shareholders of Muni Intermediate Portfolio and New Jersey Muni Portfolio:

In our opinion, the accompanying statements of assets and liabilities, including the schedules of portfolio 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 Muni Intermediate Portfolio and New Jersey Muni Portfolio (constituting The Glenmede Portfolios, hereafter referred to as the “Fund”) at October 31, 2012, and the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the 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 October 31, 2012 by correspondence with the custodian and brokers, and the application of alternative auditing procedures where securities purchased had not been received, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

Boston, Massachusetts

December 19, 2012

266

THE GLENMEDE FUND, INC.

Tax Information (Unaudited)

For the year ended October 31, 2012

Of the ordinary distributions made during the fiscal year ended October 31, 2012, the following percentages have been derived from investments in US Government and Agency Obligations. All or a portion of the distributions from this income may be exempt from taxation at the state level. Consult your tax advisor for state specific information.


Government Cash Portfolio	67.78	%
Core Fixed Income Portfolio	57.80	%

Of the ordinary distributions made during the fiscal year ended October 31, 2012, the following percentages are tax exempt for regular Federal income tax purposes.


Tax-Exempt Cash Portfolo			100	%

Of the ordinary distributions made during the fiscal year ended October 31, 2012, the following percentages qualify for the dividends received deduction available to corporate shareholders:


Strategic Equity Portfolio	100.00	%
Small Cap Equity Portfolio	100.00	%
Large Cap Value Portfolio	100.00	%
U.S. Emerging Growth Portfolio	100.00	%
Large Cap 100 Portfolio	100.00	%
Large Cap Growth Portfolio	100.00	%
Total Market Portfolio	100.00	%

The above figures may differ from those cited elsewhere in this report due to differences in the calculation of income and gains for Securities and Exchange Commission (book) purposes and Internal Revenue Service (tax) purposes.

Foreign Taxes Paid or Withheld


Portfolio	Total
International Portfolio	$	563,811
Philadelphia International Fund		159,987
Philadelphia International Small Cap Fund		13,478
Philadelphia International Emerging Markets Fund		41,941

The foreign taxes paid or withheld per share represent taxes incurred by the Fund on interest and dividends received by the Fund from foreign sources. Foreign taxes paid or withheld should be included in taxable income with an offsetting deduction from gross income or as a credit for taxes paid to foreign governments. Consult your tax advisor regarding the appropriate treatment of foreign taxes paid.

The Fund is required by the Internal Revenue Code to advise shareholders within 60 days of the Fund’s fiscal year end (October 31, 2012) as to the federal tax status of dividends paid by the Fund during such fiscal year. Accordingly, the Fund paid long-term capital gain distributions of:

267

THE GLENMEDE FUND, INC.

Tax Information (Unaudited) — (Continued)

For the year ended October 31, 2012


Core Fixed Income Portfolio	$	6,423,074
Secured Options Portfolio	$	6,610,827

Qualified dividend income (“QDI”) received through October 31, 2012, that qualified for a reduced tax rate pursuant to the Internal Revenue Code Section 1 (h)(11) are as follows:


Strategic Equity Portfolio	$	1,480,681
Small Cap Equity Portfolio		1,432,726
Large Cap Value Portfolio		1,089,435
U.S. Emerging Growth Portfolio		50,445
Large Cap 100 Portfolio		1,343,458
Large Cap Growth Portfolio		421,456
Total Market Portfolio		197,516
Secured Options Portfolio		93,299
International Portfolio		4,141,243
Philadelphia International Fund		1,149,450
Philadelphia International Small Cap Fund		112,000
Philadelphia International Emerging Markets Fund		159,465

Qualified interest income (“QII”) received through October 31, 2012, that qualified for a reduced tax rate pursuant to the Internal Revenue Code Section 871 (k) are as follows:


Core Fixed Income Portfolio	9.13	%
Government Cash Portfolio	0.00	%

268

THE GLENMEDE PORTFOLIOS

Tax Information (Unaudited)

For the year ended October 31, 2012

Of the dividends paid by the Muni Intermediate Portfolio from net investment income for the fiscal year ended October 31, 2012, 100% is tax-exempt for regular Federal income taxes.

Of the dividends paid by the New Jersey Muni Portfolio from net investment income for the fiscal year ended October 31, 2012, 100% is tax-exempt for regular Federal income taxes and New Jersey taxes.


Muni Intermediate Portfolio	$	86,242
New Jersey Muni Portfolio	$	50,326

269

THE GLENMEDE FUND, INC.
THE GLENMEDE PORTFOLIOS

BOARD MEMBERS AND OFFICERS TABLE (Unaudited)

The information pertaining to the Board of Directors of The Glenmede Fund, Inc. and the Board of Trustees of The Glenmede Portfolios (collectively, the “Funds”) and their respective officers is set forth below. The Statement of Additional Information includes additional information about the Funds’ Directors/Trustees and is available without charge, upon request, by calling 1-800-442-8299. Each Director/Trustee holds office until the earliest of (i) the next meeting of shareholders, if any, called for the purpose of considering the election or re-election of such Director/Trustee and until the election and qualification of his/her successor, if any, elected at such meeting, or (ii) the date he or she dies, resigns or retires, or is removed by the applicable Board or shareholders. Each officer is elected by the applicable Board and holds office for the term of one year and until his or her successor is duly elected and qualified, or until he or she dies, resigns, is removed, or becomes disqualified.

Independent Directors/Trustees⁽¹⁾


			Number of
	Positions Held	Principal	Portfolios in	Other
	with the Funds/	Occupations(s) During	Fund Complex	Directorships
Name and Age	Time Served	Past 5 Years	Overseen	Held


H. Franklin Allen, Ph.D Age: 56	Director of Glenmede Fund (since March 1991) and Trustee of Glenmede Portfolios (since May 1992)	Nippon Life Professor of Finance, and Professor of Economics, The Wharton School of The University of Pennsylvania; Professor of Finance and Economics (1990-1994); Vice Dean and Director of Wharton Doctoral Programs (1990-1993). Employed by The University of Pennsylvania (since 1980).	19	None

William L. Cobb, Jr. Age: 65	Director of Glenmede Fund and Trustee of Glenmede Portfolios (since February 2007)	Executive Vice President and Chief Investment Officer, The Church Pension Fund (defined benefit plan for retired clergy of the Episcopal Church) (since 1999); Vice Chairman, J.P. Morgan Investment Management (1994-1999), Chair (since 2008) and Member (until 2008), Investment Committee, The Minister and Missionaries Benefit Board of the American Baptist Church and the Wenner-Gren Foundation.	19	None

Gail E. Keppler Age: 66	Director of Glenmede Fund and Trustee of Glenmede Portfolios (since February 2007)	Co-CEO/COO TVG, Inc. (pharmaceutical marketing consulting) (1992-2002); Former Board Member, Laurel House; Former Division President and Board Member, Burke Marketing Services, Inc.	19	None

⁽¹⁾ Independent Directors/Trustees are those Directors/Trustees who are not “interested persons” of the Funds as defined in the 1940 Act.

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THE GLENMEDE PORTFOLIOS

BOARD MEMBERS AND OFFICERS TABLE (Unaudited) — (Continued)

Independent Directors/Trustees⁽¹⁾ — (Continued)


			Number of
	Positions Held	Principal	Portfolios in	Other
	with the Funds/	Occupations(s) During	Fund Complex	Directorships
Name and Age	Time Served	Past 5 Years	Overseen	Held


Francis J. Palamara Age: 87	Director of Glenmede Fund (since October 1988) and Trustee of Glenmede Portfolios (since May 1992)	Former Chief Operating Officer, The New York Stock Exchange; Former Trustee, Gintel Fund; Former Director, XTRA Corporation; Former Director, Executive Vice President-Finance and Chief Financial Officer, ARAMARK, Inc.; Former Director, The Pittston Company; Former Director, Brinks Corp.; Former Director, Constar Corporation; Former President, Meinhard Commercial Corporation; Former Executive Vice President and Chief Financial Officer, James Talcott, Inc.	19	None

Harry Wong Age: 64	Director of Glenmede Fund and Trustee of Glenmede Portfolios (since February 2007)	Former Managing Director, Knight Capital Americas, LP, an operating subsidiary of Knight Capital Group Inc. (investment banking) (2009-2011); Managing Director, Long Point Advisors, LLC (business consulting) (2003-2012); Managing Director, BIO-IB, LLC (healthcare investment banking) (2004-2009); Senior Managing Director, ABN AMRO (investment banking) (1990-2002); Adjunct faculty member, Sacred Heart University (2003-2007).	19	None

⁽¹⁾ Independent Directors/Trustees are those Directors/Trustees who are not “interested persons” of the Funds as defined in the 1940 Act.

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THE GLENMEDE PORTFOLIOS

BOARD MEMBERS AND OFFICERS TABLE (Unaudited) — (Continued)

Independent Directors/Trustees⁽¹⁾ — (Continued)

Interested Directors/Trustees⁽²⁾


			Number of	Other
			Portfolios in Fund	Directorships
		Principal	Complex Overseen	Held by
	Positions Held	Occupations(s) During	by Director/	Director/
Name and Age	with the Funds	Past 5 Years	Trustee	Trustee


Susan W. Catherwood⁽²⁾Age: 69	Director of Glenmede Fund and Trustee of Glenmede Portfolios (since February 2007)	Director (since 1988) and Member of the Investment Review/Relationship Oversight Committee (since 2001) and Compensation Committee (since 1993), Glenmede Trust; Director, The Glenmede Corporation (since 1988); Board Member, The Pew Charitable Trusts; Charter Trustee, The University of Pennsylvania; Chairman Emeritus, The University Museum of The University of Pennsylvania; Member, The Women’s Committee and Penn Museum Board of Overseers of The University of Pennsylvania; Chairman of the Board of Managers, The Christopher Ludwick Foundation; Board Member, Monell Chemical Senses Center; Director: Thomas Harrison Skelton Foundation and The Catherwood Foundation; Fellow and serves on Finance Committee, College of Physicians of Philadelphia.	19	None

⁽²⁾ Interested Directors/Trustees are those Directors/Trustees who are “interested persons” of the Funds as defined in the 1940 Act. Susan W. Catherwood and G. Thompson Pew, Jr., are considered to be “interested” Director/Trustees of the Funds because of their affiliations with Glenmede Trust, the parent company of the Funds’ investment advisor, GIM, and their stock ownership in The Glenmede Corporation, of which GIM is an affiliate.

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THE GLENMEDE PORTFOLIOS

BOARD MEMBERS AND OFFICERS TABLE (Unaudited) — (Continued)

Interested Directors/Trustees⁽²⁾ — (Continued)


			Number of	Other
			Portfolios in Fund	Directorships
		Principal	Complex Overseen	Held by
	Positions Held	Occupations(s) During	by Director/	Director/
Name and Age	with the Funds	Past 5 Years	Trustee	Trustee


G. Thompson Pew, Jr. ⁽²⁾Age: 70	Director of Glenmede Fund (since October 1988) and Trustee of Glenmede Portfolios (since May 1992) Chairman of the Funds (since June 2006)	Director, The Glenmede Corporation, Director, Member of the Relationship Oversight Committee, Executive Committee (until 2012), Private Equity/Real Estate Advisory Committee, and Chairman (until 2012) of the Compensation Committee, Glenmede Trust; Former Director, Brown & Glenmede Holdings, Inc.; Former Co-Director, Principal and Officer, Philadelphia Investment Banking Co.; Former Director and Officer, Valley Forge Administrative Services Company.	19	None

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THE GLENMEDE FUND, INC.
THE GLENMEDE PORTFOLIOS

BOARD MEMBERS AND OFFICERS TABLE (Unaudited) — (Concluded)

Interested Directors/Trustees⁽²⁾ — (Continued)

Officers


	Positions Held with	Principal Occupation(s)
Name, Address and Age	the Fund/Time Served	During Past 5 Years

Mary Ann B. Wirts 1650 Market Street, Suite 1200 Philadelphia, PA 19103 Age: 61	President of the Funds since December 1997. Treasurer of the Funds since December 2002.	Managing Director and Chief Administrative Officer of Glenmede Trust. Managing Director and Chief Administrative Officer of Glenmede Investment Management LP (since 2006). First Vice President and Managing Director of Fixed Income of Glenmede Advisers (2000-2006). Employed by Glenmede Trust since 1982.

Kimberly C. Osborne 1650 Market Street, Suite 1200 Philadelphia, PA 19103 Age: 46	Executive Vice President of the Funds since December 1997.	Client Service Manager of Glenmede Investment Management LP (since 2006). Vice President of Glenmede Trust and Glenmede Advisers until 2008. Employed by Glenmede Trust 1993-2008 and Glenmede Advisers 2000-2008.

Michael P. Malloy One Logan Square Suite 1200 Philadelphia, PA 19103-6996 Age: 53	Secretary of the Funds since January 1995.	Partner in the law firm of Drinker Biddle & Reath LLP.

David James 4 Copley Place, Boston, MA 02116 Age: 41	Assistant Secretary of the Funds since December 2011.	Vice President and Managing Counsel, State Street Bank and Trust Company (2009-present); Vice President and Counsel, PNC Global Investment Servicing (US), Inc. (2006-2009).

Jennifer LaBelle 200 Clarendon Street Boston, MA 02116 Age: 44	Assistant Treasurer of the Funds since December 2012.	Vice President, State Street Bank and Trust Company (since 2008).

Donna M. Rogers 10 High Street Boston, MA 02116 Age: 46	Chief Compliance Officer of the Funds since September 2004.	Managing Director, Foreside Compliance Services, LLC (since 2010); Senior Vice President, State Street Bank and Trust Company (2007-2010); Senior Director, Investors Bank & Trust Company (prior to merger with State Street) (2002-2007).

274

THE GLENMEDE FUND, INC.
THE GLENMEDE PORTFOLIOS

(Unaudited)

Proxy Voting

A description of the policies and procedures that the Funds’ investment advisors and sub-advisor use to vote proxies relating to the Funds’ portfolio securities is available, without charge, upon request, by calling 1-800-442-8299, and on the Securities and Exchange Commission’s (the “SEC”) website at http://www.sec.gov.

Information regarding how the Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available, without charge, upon request, by calling 1-800-442-8299, and on the SEC’s website at http://www.sec.gov.

Quarterly Portfolio Holdings

The Funds file their complete schedule of portfolio holdings of each Portfolio with the SEC for the first and third quarter of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the SEC’s website at http://www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the SEC’s Public Reference Room may be obtained by calling 1-800-SEC-0330.

Boards of Directors/Trustees — Considerations Regarding Investment Advisory and Sub-Investment Advisory Agreements

At meetings held on September 14, 2012, the Board of Directors of Glenmede Fund and the Board of Trustees of Glenmede Portfolios (collectively, the “Boards”) renewed the current Investment Advisory Agreements for each Portfolio of the Funds and the Sub-Investment Advisory Agreement for the International Portfolio and approved the Investment Advisory Agreement for the new International Secured Options Portfolio (the “New Portfolio”).

In determining whether to renew the Investment Advisory Agreements and the Sub-Investment Advisory Agreement for the existing Portfolios and to approve the Investment Advisory Agreement for the New Portfolio (collectively, the “Agreements”), the Boards, including all of the Directors/Trustees present who are not interested persons under the Investment Company Act of 1940 (the “Independent Directors”), reviewed and considered, among other items: (1) a memorandum from independent counsel setting forth the Boards’ fiduciary duties, responsibilities and the factors the Boards should consider in their evaluation of the Agreements; (2) reports prepared by an independent rating and ranking organization and charts prepared by the Advisor and PIA comparing the performance of each existing Portfolio to the performance of its applicable benchmark index and relevant peer group; (3) a Thomson Reuters Inc. (“Thomson Reuters”) report comparing each Portfolio’s advisory fees, if any, and expenses to those of its relevant peer group; and (4) reports of and presentations by representatives of the Advisor and PIA that described: (i) the nature, extent and quality of the Advisor’s and PIA’s services provided or to be provided to their respective Portfolios; (ii) the experience and qualifications of the personnel providing those services; (iii) their organizational structures, financial information, insurance coverage and Forms ADV; (iv) their

275

THE GLENMEDE FUND, INC.
THE GLENMEDE PORTFOLIOS

(Unaudited) — (Continued)

investment philosophies and processes; (v) their assets under management and client descriptions; (vi) brokerage, soft dollar commission and trade allocation policies, including information on the types of research and services obtained in connection with soft dollar commissions; (vii) their advisory fee arrangements with those Portfolios that charge advisory fees; (viii) the proposed advisory fee arrangement for the New Portfolio; (ix) the voluntary fee waiver in effect for the Philadelphia International Fund and the contractual fee and expense waivers for the Long/Short Portfolio, Total Market Portfolio, Philadelphia International Emerging Markets Fund and Philadelphia International Small Cap Fund and the proposed contractual fee and expense waivers for the New Portfolio; (x) the advisory fee arrangements with their other similarly managed clients; (xi) their compliance processes and conflicts of interest assessments; (xii) their profitability analyses related to providing services to the Portfolios; (xiii)the extent to which economies of scale are relevant to the Portfolios; and (xiv) the benefits of adding the New Portfolio to the Glenmede Fund complex. The Directors/Trustees discussed the written materials, the Advisor’s and PIA’s presentations, the Funds’ Chief Compliance Officer’s quarterly reports on the Advisor’s and PIA’s compliance programs and their responsiveness in addressing her recommendations, and deliberated on the Agreements in light of this information together with information provided to the Directors/Trustees over the course of the year. In their deliberations, the Directors/Trustees did not identify any single piece of information that was all-important or controlling.

The Boards, including all of the Independent Directors/Trustees present, reached the following conclusions, among others, regarding the Advisor and PIA and their respective Agreements: the Advisor and PIA each have the capabilities, resources and personnel necessary to manage their respective Portfolios, including the New Portfolio, the Advisor has the capabilities, resources and personnel necessary to oversee the management of PIA as sub-adviser to the International Portfolio; the Boards are satisfied with the quality of services provided by the Advisor and PIA in advising their respective Portfolios; the advisory fee for each Portfolio that pays an advisory fee, including the New Portfolio, with the exception of the Core Fixed Income Portfolio, International Portfolio, Philadelphia International Fund, Total Market Portfolio and Philadelphia International Small Cap Fund, is below the median and average actual advisory fees paid by comparable funds in their respective Thomson Reuters’ peer group; the advisory fees for the Core Fixed Income Portfolio, International Portfolio, Philadelphia International Fund, Total Market Portfolio and Philadelphia International Small Cap Fund are above the average and/or median peer group advisory fees, but below the highest peer group advisory fees; and each advisory and sub-advisory fee is reasonable as compared to PIA’s other similarly-managed sub-advised mutual fund clients and the Advisor’s and PIA’s similarly-managed separate account clients, considering that the mutual funds involve more compliance and regulatory filings and generally require additional services to manage shareholder purchases and redemptions than separate accounts. The Glenmede Fund Board also concluded that the advisory fees charged by the Advisor are based on services that are in addition to, rather than duplicative of, the services provided under the advisory

276

THE GLENMEDE FUND, INC.
THE GLENMEDE PORTFOLIOS

(Unaudited) — (Continued)

contracts of exchange traded funds in which the Portfolios and the New Portfolio may invest.

The Boards also concluded that based on the information provided, the total annual portfolio operating expenses paid by each Portfolio, including the New Portfolio, with the exception of the Government Cash Portfolio, International Portfolio, Total Market Portfolio and Philadelphia International Small Cap Fund are below the average and median expenses paid by comparable funds in their respective Thomson Reuters’ peer group; the expense ratios for the Government Cash Portfolio, International Portfolio, Total Market Portfolio and Philadelphia International Small Cap Fund are above the average and/or median peer group expense ratios, but are below the highest peer group expense ratios; the performance of the existing Portfolios is generally mixed as compared with their benchmark indices and other mutual funds in their peer groups as ranked by an independent rating and ranking organization and as demonstrated by charts provided by the Advisor and PIA comparing the performance of each Portfolio to its respective benchmark index and peer group.

The Boards also concluded that the profit to Advisor for advisory services and Glenmede Trust for shareholder servicing seem reasonable; the profit to PIA for advisory, shareholder servicing and sub-advisory services seem reasonable; and the benefits derived by the Advisor and PIA from managing their respective Portfolios, including how each uses soft dollars, the ways in which they conduct portfolio transactions and select brokers, seem reasonable. The Glenmede Fund Board noted that Glenmede Trust, from time to time, voluntarily waives a portion of its shareholder servicing fees and/or reimburses expenses with respect to the Government Cash Portfolio and Tax-Exempt Cash Portfolio to the extent necessary to prevent each such Portfolio from experiencing a negative yield. The Boards noted that since the investment advisory fees and shareholder servicing fees do not have breakpoints, there would be no economies of scale for those fees as the Portfolios’ assets increase. With respect to the Glenmede Fund Board’s evaluation of the Sub-Investment Advisory Agreement, economies of scale were not considered relevant because the sub-advisory fee is paid by the Advisor, not the International Portfolio or its shareholders, and therefore has no impact on the International Portfolio’s expense ratio.

Based upon each Board’s deliberations and evaluation of the information described above, the Directors/Trustees, including all of the Independent Directors/Trustees present, determined that the terms of each current and proposed Investment Advisory Agreement and Sub-Advisory Agreement were reasonable and fair to the respective Portfolios and their shareholders.

277

The Glenmede Fund, Inc. and The Glenmede Portfolios

Investment Advisor

Glenmede Investment Management LP
One Liberty Place
1650 Market Street, Suite 1200
Philadelphia, Pennsylvania 19103

Administrator

State Street Bank and Trust Company
2 Avenue de Lafayette
Boston, Massachusetts 02206

Custodian

State Street Bank and Trust Company
2 Avenue de Lafayette
Boston, Massachusetts 02206

Legal Counsel

Drinker Biddle & Reath LLP
One Logan Square
Suite 2000
Philadelphia, Pennsylvania 19103-6996

Distributor

Quasar Distributors, LLC.
615 East Michigan Street
Milwaukee, Wisconsin 53202

Independent Auditors

PricewaterhouseCoopers LLP
125 High Street
Boston, Massachusetts 02110

Investment Advisor

(for Philadelphia International Fund,
Philadelphia International Small
Cap Fund, and
Philadelphia International Emerging
Markets Fund)

Investment Sub-Advisor

(for International Portfolio)
Philadelphia International Advisors LP
One Liberty Place
1650 Market Street, Suite 1400
Philadelphia, Pennsylvania 19103

The report is submitted for the general information of the shareholders of The Glenmede Fund, Inc. and The Glenmede Portfolios. It is not authorized for distribution to prospective investors unless accompanied or preceded by an effective prospectus for the Funds, which contain information concerning the Fund’s investment policies and expenses as well as other pertinent information.

Item 2. Code of Ethics.

As of October 31, 2012, the Registrant has adopted a code of ethics that applies to the Registrant’s President and Treasurer (Principal Executive Officer and Principal Financial Officer). For the year ended October 31, 2012, there were no amendments to a provision of its code of ethics, nor were there any waivers, including implicit waivers granted from a provision of the code of ethics. A copy of the Registrant’s code of ethics is filed with the Form N-CSR under Item 12(a)(1).

Item 3. Audit Committee Financial Expert.

The Registrant’s Board of Directors has determined that the Registrant has at least one audit committee financial expert serving on its audit committee. The audit committee financial expert serving on the Registrant’s audit committee is Francis J. Palamara, who is “independent” as defined in Item 3(a)(2) of this Form.

Item 4. Principal Accountant Fees and Services.

	(a)		Audit Fees — The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the Registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $311,198 and $385,709 for the fiscal years ended October 31, 2011 and October 31, 2012, respectively.

	(b)		Audit-Related Fees — There were no fees billed for the fiscal years ended October 31, 2011 and October 31, 2012 for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the Registrant’s financial statements and are not reported under (a) of this Item.

	(c)		Tax Fees — The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for the review of the Registrant’s tax returns, other tax-related filings and excise tax calculations were $59,107 and $61,057 for the fiscal years ended October 31, 2011 and October 31, 2012, respectively.

	(d)		All Other Fees — There were no other fees billed for the fiscal years ended October 31, 2011 and October 31, 2012 for products and services provided by the principal accountant, other than the services reported in (a) through (c) of this Item.

	(e)		(1) The Registrant’s audit committee pre-approves all audit and non-audit services to be performed by the Registrant’s accountant before the accountant is engaged by the Registrant to perform such services.

(2) There were no services described in (b) through (d) above (including services required to be approved by the audit committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X) that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

	(f)		None of the hours expended on the principal accountant’s engagement to audit the Registrant’s financial statements for the fiscal year ended October 31, 2012 were attributable to work performed by persons other than the principal accountant’s full-time, permanent employees.

	(g)		Not applicable.

	(h)		Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Schedule of Investments.

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

(b) 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 Investment Management Companies.

Not applicable.

Item 9. Purchases 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 have been no material changes to the procedures by which the shareholders may recommend nominees to the Registrant’s Board of Directors.

Item 11. Controls and Procedures.

(a) The Registrant’s Principal Executive Officer and Principal Financial Officer concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c))), are effective based on the evaluation of Registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this report.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d))), that occurred during the Registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12. Exhibits.

(a)(1) Code of Ethics for the Registrant’s President and Treasurer (Principal Executive Officer and Principal Financial Officer) described in Item 2 is attached hereto.

(a)(2) Certification of the Principal Executive Officer and Principal Financial Officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is attached hereto as Exhibit 99.CERT.

(a)(3) Not applicable.

(b) Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 as required by Rule 30a-2(b), under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)), Rule 15d-14(b) under the Securities Exchange Act of 1934 (17 CFR 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) is 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.

(Registrant) THE GLENMEDE FUND, INC.


By (Signature and Title)		/s/ Mary Ann B. Wirts Mary Ann B. Wirts
		President and Treasurer
		(Principal Executive Officer and Principal Financial Officer)


Date January 3, 2013

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 person on behalf of the Registrant and in the capacities and on the date indicated.


By (Signature and Title)		/s/ Mary Ann B. Wirts Mary Ann B. Wirts
		President and Treasurer
		(Principal Executive Officer and Principal Financial Officer)


Date January 3, 2013

Glenmede Fund N-CSRCertified annual shareholder report (management investment company)