Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-7704
Schwab Capital Trust
(Exact name of registrant as specified in charter)
211 Main Street, San Francisco, California 94105
(Address of principal executive offices) (Zip code)
Marie Chandoha
Schwab Capital Trust
211 Main Street, San Francisco, California 94105
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 636-7000
Date of fiscal year end: October 31
Date of reporting period: October 31, 2015
Item 1: Report(s) to Shareholders.
Table of Contents
Index Fund®
Index Fund®
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Index Fund
Index Fund
2 | |
3 | |
5 | |
Performance and Fund Facts | |
6 | |
8 | |
10 | |
12 | |
14 | |
16 | |
Financial Statements and Condensed Portfolio Holdings | |
17 | |
24 | |
31 | |
38 | |
45 | |
53 | |
65 | |
66 | |
67 | |
69 | |
72 |
Total Return for the 12 Months Ended October 31, 2015 | |
Schwab S&P 500 Index Fund (Ticker Symbol: SWPPX) | 5.10% |
S&P 500® Index | 5.20% |
Fund Category: Morningstar Large Blend | 2.79% |
Performance Details | pages 6-7 |
Schwab 1000 Index Fund (Ticker Symbol: SNXFX) | 4.66% |
Schwab 1000 Index® | 4.96% |
Fund Category: Morningstar Large Blend | 2.79% |
Performance Details | pages 8-9 |
Schwab Small-Cap Index Fund (Ticker Symbol: SWSSX) | 0.36% |
Russell 2000® Index | 0.34% |
Fund Category: Morningstar Small Blend | -0.45% |
Performance Details | pages 10-11 |
Schwab Total Stock Market Index Fund (Ticker Symbol: SWTSX) | 4.36% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% |
Fund Category: Morningstar Large Blend | 2.79% |
Performance Details | pages 12-13 |
Schwab International Index Fund1 (Ticker Symbol: SWISX) | -1.53% |
MSCI EAFE® Index (Net)2 | -0.07% |
Fund Category: Morningstar Foreign Large Blend | -1.58% |
Performance Details | pages 14-15 |
Minimum Initial Investment3 | $100 |
1 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
2 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
3 | Please see the funds' prospectus for further detail and eligibility requirements. |
1 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Agnes Hong, CFA, Vice President and Head of Passive Equities, leads the portfolio management teams of Schwab's passive equity funds and ETFs, which comprise the Schwab Equity Index Funds, the Schwab Fundamental Index Funds, and the Schwab Equity ETFs. She also has overall responsibility for all aspects of the management of the funds. Prior to joining CSIM in 2009, Ms. Hong spent five years as a portfolio manager at Barclays Global Investors (subsequently acquired by BlackRock), where she managed institutional index funds and quantitative active funds. Prior to that, Ms. Hong worked in management consulting and product management, servicing global financial services clients. |
Ferian Juwono, CFA, Managing Director and Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining CSIM in 2010, Mr. Juwono worked at BlackRock (formerly Barclays Global Investors), where he spent over three years as a portfolio manager, managing equity index funds for institutional clients, and nearly two years as a senior business analyst. Prior to that, Mr. Juwono worked for over four years as a senior financial analyst with Union Bank of California. |
David Rios, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab S&P 500 Index Fund, Schwab 1000 Index Fund, and Schwab Small-Cap Index Fund. He joined CSIM in 2008 and became a Portfolio Manager in September 2014. Prior to this role, Mr. Rios served as an Associate Portfolio Manager on the Passive Equities team for four years. His first role with CSIM was as a trade operation specialist. He also previously worked as a senior fund accountant at Investors Bank & Trust (subsequently acquired by State Street Corporation). |
Statistics | |
Number of Holdings | 505 |
Weighted Average Market Cap (millions) | $141,576 |
Price/Earnings Ratio (P/E) | 22.9 |
Price/Book Ratio (P/B) | 2.6 |
Portfolio Turnover Rate | 2% |
Sector Weightings % of Investments | |
Information Technology | 20.7% |
Financials | 16.1% |
Health Care | 14.5% |
Consumer Discretionary | 13.1% |
Industrials | 10.1% |
Consumer Staples | 9.6% |
Energy | 7.1% |
Materials | 2.9% |
Utilities | 2.9% |
Telecommunication Services | 2.3% |
Other | 0.7% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Apple, Inc. | 3.7% |
Microsoft Corp. | 2.3% |
Exxon Mobil Corp. | 1.9% |
General Electric Co. | 1.6% |
Johnson & Johnson | 1.5% |
Berkshire Hathaway, Inc., Class B | 1.4% |
Wells Fargo & Co. | 1.4% |
Amazon.com, Inc. | 1.3% |
JPMorgan Chase & Co. | 1.3% |
Facebook, Inc., Class A | 1.3% |
Total | 17.7% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab S&P 500 Index Fund (5/19/97) | 5.10% | 14.22% | 7.81% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Fund Category: Morningstar Large Blend | 2.79% | 12.51% | 6.99% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 9, 2009, the Investor Share class, Select Share class and e.Shares class were combined into a single class of shares of the fund. The performance history of the fund prior to September 9, 2009 is that of the fund’s former Select Shares. On September 9, 2009, the Schwab Institutional Select S&P 500 Fund merged into the fund. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 983 |
Weighted Average Market Cap (millions) | $125,954 |
Price/Earnings Ratio (P/E) | 24.0 |
Price/Book Ratio (P/B) | 2.6 |
Portfolio Turnover Rate | 4% |
Sector Weightings % of Investments | |
Information Technology | 20.2% |
Financials | 17.0% |
Health Care | 14.1% |
Consumer Discretionary | 13.6% |
Industrials | 10.4% |
Consumer Staples | 8.9% |
Energy | 6.7% |
Materials | 3.2% |
Utilities | 3.0% |
Telecommunication Services | 2.2% |
Other | 0.7% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Apple, Inc. | 3.3% |
Microsoft Corp. | 2.0% |
Exxon Mobil Corp. | 1.7% |
General Electric Co. | 1.4% |
Johnson & Johnson | 1.3% |
Berkshire Hathaway, Inc., Class B | 1.2% |
Wells Fargo & Co. | 1.2% |
Amazon.com, Inc. | 1.1% |
JPMorgan Chase & Co. | 1.1% |
Facebook, Inc., Class A | 1.1% |
Total | 15.4% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab 1000 Index Fund (4/2/91) | 4.66% | 13.89% | 7.74% |
Schwab 1000 Index® | 4.96% | 14.20% | 8.06% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Fund Category: Morningstar Large Blend | 2.79% | 12.51% | 6.99% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 18, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to September 18, 2009 is that of the fund’s former Investor Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. The expense information shown in the table has been restated to reflect the removal of expenses incurred indirectly by the fund through its investment in business development companies (BDCs). The fund’s benchmark index no longer includes BDCs. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 1,987 |
Weighted Average Market Cap (millions) | $1,880 |
Price/Earnings Ratio (P/E) | 74.4 |
Price/Book Ratio (P/B) | 1.9 |
Portfolio Turnover Rate | 17% |
Sector Weightings % of Investments | |
Financials | 24.1% |
Information Technology | 16.6% |
Health Care | 14.2% |
Consumer Discretionary | 13.2% |
Industrials | 11.6% |
Materials | 3.5% |
Utilities | 3.5% |
Consumer Staples | 3.2% |
Energy | 2.9% |
Telecommunication Services | 0.8% |
Other | 6.4% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
STERIS Corp. | 0.4% |
Tyler Technologies, Inc. | 0.3% |
Manhattan Associates, Inc. | 0.3% |
Anacor Pharmaceuticals, Inc. | 0.3% |
CubeSmart | 0.3% |
Piedmont Natural Gas Co., Inc. | 0.3% |
MAXIMUS, Inc. | 0.3% |
Investors Bancorp, Inc. | 0.3% |
Neurocrine Biosciences, Inc. | 0.3% |
West Pharmaceutical Services, Inc. | 0.2% |
Total | 3.0% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Small-Cap Index Fund (5/19/97) | 0.36% | 12.38% | 8.23% |
Russell 2000® Index | 0.34% | 12.06% | 7.47% |
Small-Cap Spliced Index | 0.34% | 12.36% | 8.31% |
Fund Category: Morningstar Small Blend | -0.45% | 11.37% | 7.04% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On August 21, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to August 21, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. The expense information shown in the table has been restated to reflect the removal of expenses incurred indirectly by the fund through its investment in business development companies (BDCs). The fund’s benchmark index no longer includes BDCs. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 2,496 |
Weighted Average Market Cap (millions) | $115,848 |
Price/Earnings Ratio (P/E) | 25.5 |
Price/Book Ratio (P/B) | 2.5 |
Portfolio Turnover Rate | 2% |
Sector Weightings % of Investments | |
Information Technology | 19.5% |
Financials | 17.5% |
Health Care | 13.9% |
Consumer Discretionary | 13.3% |
Industrials | 10.5% |
Consumer Staples | 8.3% |
Energy | 6.4% |
Materials | 3.2% |
Utilities | 3.0% |
Telecommunication Services | 2.1% |
Other | 2.3% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Apple, Inc. | 3.0% |
Microsoft Corp. | 1.8% |
Exxon Mobil Corp. | 1.5% |
General Electric Co. | 1.3% |
Johnson & Johnson | 1.2% |
Berkshire Hathaway, Inc., Class B | 1.1% |
Wells Fargo & Co. | 1.1% |
Amazon.com, Inc. | 1.0% |
JPMorgan Chase & Co. | 1.0% |
Facebook, Inc., Class A | 1.0% |
Total | 14.0% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Total Stock Market Index Fund (6/1/99) | 4.36% | 14.08% | 8.08% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.11% | 8.07% |
Fund Category: Morningstar Large Blend | 2.79% | 12.51% | 6.99% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 18, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to September 18, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 924 |
Weighted Average Market Cap (millions) | $58,071 |
Price/Earnings Ratio (P/E) | 19.2 |
Price/Book Ratio (P/B) | 1.6 |
Portfolio Turnover Rate | 7% |
Sector Weightings % of Investments | |
Financials | 26.2% |
Consumer Discretionary | 13.0% |
Industrials | 12.4% |
Consumer Staples | 11.8% |
Health Care | 11.4% |
Materials | 6.6% |
Telecommunication Services | 4.9% |
Energy | 4.8% |
Information Technology | 4.8% |
Utilities | 3.7% |
Other | 0.4% |
Total | 100.0% |
Top Equity Holdings % of Net Assets2 | |
Nestle S.A. – Reg'd | 1.9% |
Novartis AG – Reg'd | 1.6% |
Roche Holding AG | 1.5% |
Toyota Motor Corp. | 1.3% |
HSBC Holdings plc | 1.2% |
Sanofi | 0.9% |
British American Tobacco plc | 0.9% |
Bayer AG – Reg'd | 0.9% |
BP plc | 0.8% |
GlaxoSmithKline plc | 0.8% |
Total | 11.8% |
1 | Typically, the securities in the index are valued using foreign exchange rates obtained at the close of the London foreign currency exchange (11:00 AM EST). Securities in the fund, however, are valued using foreign exchange rates obtained at the close of the New York foreign currency exchange (4:00 PM EST). This difference in closing times can result in different foreign currency exchange rates between the two exchanges, and thus different foreign currency exchange rates used in the valuation of the index’s and fund’s securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab International Index Fund (5/19/97) | -1.53% | 4.69% | 4.00% |
MSCI EAFE® Index (Net)4 | -0.07% | 4.81% | 4.05% |
International Spliced Index | -0.07% | 4.96% | 4.25% |
Fund Category: Morningstar Foreign Large Blend | -1.58% | 3.81% | 3.89% |
Japan | 22.6% |
United Kingdom | 19.9% |
France | 10.0% |
Switzerland | 9.3% |
Germany | 8.9% |
Australia | 6.2% |
Spain | 3.4% |
Hong Kong | 3.0% |
Sweden | 2.8% |
Netherlands | 2.8% |
Other Countries | 11.1% |
Total | 100.0% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On August 21, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to August 21, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
5 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio1 (Annualized) | Beginning Account Value at 5/1/15 | Ending Account Value (Net of Expenses) at 10/31/15 | Expenses Paid During Period2 5/1/15–10/31/15 | |
Schwab S&P 500 Index Fund | ||||
Actual Return | 0.09% | $1,000.00 | $ 1,007.30 | $0.46 |
Hypothetical 5% Return | 0.09% | $1,000.00 | $ 1,024.75 | $0.46 |
Schwab 1000 Index Fund | ||||
Actual Return | 0.29% | $1,000.00 | $1,001.10 | $1.46 |
Hypothetical 5% Return | 0.29% | $1,000.00 | $ 1,023.74 | $1.48 |
Schwab Small-Cap Index Fund | ||||
Actual Return | 0.17% | $1,000.00 | $ 959.10 | $ 0.84 |
Hypothetical 5% Return | 0.17% | $1,000.00 | $1,024.34 | $ 0.87 |
Schwab Total Stock Market Index Fund | ||||
Actual Return | 0.09% | $1,000.00 | $ 997.10 | $ 0.45 |
Hypothetical 5% Return | 0.09% | $1,000.00 | $ 1,024.75 | $0.46 |
Schwab International Index Fund | ||||
Actual Return | 0.19% | $1,000.00 | $ 932.90 | $ 0.93 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.24 | $ 0.97 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12-month period. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 365 days of the fiscal year. |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $31.99 | $27.78 | $22.35 | $19.82 | $18.70 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.67 1 | 0.56 | 0.52 | 0.44 | 0.39 | |
Net realized and unrealized gains (losses) | 0.92 | 4.13 | 5.40 | 2.49 | 1.09 | |
Total from investment operations | 1.59 | 4.69 | 5.92 | 2.93 | 1.48 | |
Less distributions: | ||||||
Distributions from net investment income | (0.58) | (0.48) | (0.49) | (0.40) | (0.36) | |
Net asset value at end of period | $33.00 | $31.99 | $27.78 | $22.35 | $19.82 | |
Total return | 5.10% | 17.16% | 27.06% | 15.09% | 7.97% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | |
Gross operating expenses | 0.09% | 0.09% | 0.09% | 0.10% | 0.10% | |
Net investment income (loss) | 2.07% | 1.89% | 2.10% | 2.09% | 1.96% | |
Portfolio turnover rate | 2% | 2% | 1% | 2% | 3% | |
Net assets, end of period (x 1,000,000) | $21,587 | $20,473 | $17,121 | $12,687 | $10,909 | |
Holdings by Category | Cost ($) | Value ($) | |
99.3% | Common Stock | 12,296,413,364 | 21,436,762,073 |
0.1% | Other Investment Company | 22,609,285 | 22,609,285 |
0.6% | Short-Term Investment | 120,801,912 | 120,801,912 |
100.0% | Total Investments | 12,439,824,561 | 21,580,173,270 |
0.0% | Other Assets and Liabilities, Net | 6,331,869 | |
100.0% | Net Assets | 21,586,505,139 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Common Stock 99.3% of net assets | |||||
Automobiles & Components 1.0% | |||||
Other Securities | 1.0 | 221,756,094 | |||
Banks 5.8% | |||||
Bank of America Corp. | 12,227,811 | 0.9 | 205,182,669 | ||
Citigroup, Inc. | 3,519,347 | 0.8 | 187,123,680 | ||
JPMorgan Chase & Co. | 4,331,031 | 1.3 | 278,268,742 | ||
Wells Fargo & Co. | 5,453,509 | 1.4 | 295,252,977 | ||
Other Securities | 1.4 | 296,500,247 | |||
5.8 | 1,262,328,315 | ||||
Capital Goods 7.2% | |||||
3M Co. | 732,719 | 0.5 | 115,190,754 | ||
General Electric Co. | 11,824,352 | 1.6 | 341,960,260 | ||
The Boeing Co. | 745,254 | 0.5 | 110,349,760 | ||
Other Securities | 4.6 | 991,934,073 | |||
7.2 | 1,559,434,847 | ||||
Commercial & Professional Supplies 0.7% | |||||
Other Securities | 0.7 | 153,572,084 | |||
Consumer Durables & Apparel 1.5% | |||||
Other Securities | 1.5 | 315,037,047 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Consumer Services 1.9% | |||||
McDonald's Corp. | 1,102,438 | 0.6 | 123,748,666 | ||
Starbucks Corp. | 1,740,024 | 0.5 | 108,873,302 | ||
Other Securities | 0.8 | 178,858,010 | |||
1.9 | 411,479,978 | ||||
Diversified Financials 4.9% | |||||
Berkshire Hathaway, Inc., Class B * | 2,187,130 | 1.4 | 297,493,423 | ||
The Charles Schwab Corp. (a) | 1,402,481 | 0.2 | 42,803,720 | ||
Other Securities | 3.3 | 706,486,165 | |||
4.9 | 1,046,783,308 | ||||
Energy 7.1% | |||||
Chevron Corp. | 2,205,834 | 0.9 | 200,466,194 | ||
Exxon Mobil Corp. | 4,871,741 | 1.9 | 403,087,850 | ||
Schlumberger Ltd. | 1,475,715 | 0.5 | 115,341,884 | ||
Other Securities | 3.8 | 806,158,747 | |||
7.1 | 1,525,054,675 | ||||
Food & Staples Retailing 2.2% | |||||
CVS Health Corp. | 1,302,751 | 0.6 | 128,685,744 | ||
Wal-Mart Stores, Inc. | 1,845,802 | 0.5 | 105,653,707 | ||
Other Securities | 1.1 | 250,406,464 | |||
2.2 | 484,745,915 | ||||
Food, Beverage & Tobacco 5.5% | |||||
Altria Group, Inc. | 2,296,091 | 0.7 | 138,844,623 | ||
PepsiCo, Inc. | 1,721,163 | 0.8 | 175,885,647 | ||
Philip Morris International, Inc. | 1,807,546 | 0.7 | 159,787,066 | ||
The Coca-Cola Co. | 4,587,756 | 0.9 | 194,291,467 | ||
Other Securities | 2.4 | 520,432,332 | |||
5.5 | 1,189,241,135 | ||||
Health Care Equipment & Services 4.8% | |||||
Medtronic plc | 1,656,176 | 0.6 | 122,424,530 | ||
UnitedHealth Group, Inc. | 1,116,010 | 0.6 | 131,443,658 | ||
Other Securities | 3.6 | 778,800,218 | |||
4.8 | 1,032,668,406 | ||||
Household & Personal Products 1.9% | |||||
The Procter & Gamble Co. | 3,167,690 | 1.1 | 241,948,162 | ||
Other Securities | 0.8 | 160,144,951 | |||
1.9 | 402,093,113 | ||||
Insurance 2.7% | |||||
Other Securities | 2.7 | 589,769,423 | |||
Materials 2.9% | |||||
Other Securities | 2.9 | 629,631,287 | |||
Media 3.3% | |||||
Comcast Corp., Class A | 2,900,664 | 0.8 | 181,639,580 | ||
The Walt Disney Co. | 1,815,683 | 1.0 | 206,515,784 | ||
Other Securities | 1.5 | 315,110,236 | |||
3.3 | 703,265,600 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Pharmaceuticals, Biotechnology & Life Sciences 9.7% | |||||
AbbVie, Inc. | 1,937,286 | 0.5 | 115,365,381 | ||
Allergan plc * | 461,268 | 0.7 | 142,287,340 | ||
Amgen, Inc. | 888,459 | 0.7 | 140,536,445 | ||
Bristol-Myers Squibb Co. | 1,947,464 | 0.6 | 128,435,251 | ||
Celgene Corp. * | 922,626 | 0.5 | 113,215,436 | ||
Gilead Sciences, Inc. | 1,718,450 | 0.9 | 185,815,999 | ||
Johnson & Johnson | 3,234,925 | 1.5 | 326,824,473 | ||
Merck & Co., Inc. | 3,295,514 | 0.8 | 180,132,795 | ||
Pfizer, Inc. | 7,215,333 | 1.1 | 244,022,562 | ||
Other Securities | 2.4 | 513,096,655 | |||
9.7 | 2,089,732,337 | ||||
Real Estate 2.6% | |||||
Other Securities | 2.6 | 571,681,022 | |||
Retailing 5.4% | |||||
Amazon.com, Inc. * | 448,780 | 1.3 | 280,891,402 | ||
The Home Depot, Inc. | 1,502,950 | 0.9 | 185,824,738 | ||
Other Securities | 3.2 | 701,029,801 | |||
5.4 | 1,167,745,941 | ||||
Semiconductors & Semiconductor Equipment 2.4% | |||||
Intel Corp. | 5,564,705 | 0.9 | 188,420,911 | ||
Other Securities | 1.5 | 337,435,313 | |||
2.4 | 525,856,224 | ||||
Software & Services 11.9% | |||||
Alphabet, Inc., Class A * | 336,212 | 1.1 | 247,919,367 | ||
Alphabet, Inc., Class C * | 349,175 | 1.2 | 248,197,082 | ||
Facebook, Inc., Class A * | 2,644,800 | 1.3 | 269,690,256 | ||
International Business Machines Corp. | 1,053,390 | 0.7 | 147,558,871 | ||
MasterCard, Inc., Class A | 1,167,690 | 0.5 | 115,589,633 | ||
Microsoft Corp. | 9,356,331 | 2.3 | 492,517,264 | ||
Oracle Corp. | 3,803,386 | 0.7 | 147,723,512 | ||
Visa, Inc., Class A | 2,282,600 | 0.8 | 177,084,108 | ||
Other Securities | 3.3 | 715,115,004 | |||
11.9 | 2,561,395,097 | ||||
Technology Hardware & Equipment 6.4% | |||||
Apple, Inc. | 6,669,715 | 3.7 | 797,030,943 | ||
Cisco Systems, Inc. | 5,965,928 | 0.8 | 172,117,023 | ||
QUALCOMM, Inc. | 1,836,165 | 0.5 | 109,104,924 | ||
Other Securities | 1.4 | 304,877,739 | |||
6.4 | 1,383,130,629 | ||||
Telecommunication Services 2.4% | |||||
AT&T, Inc. | 7,206,802 | 1.1 | 241,499,935 | ||
Verizon Communications, Inc. | 4,763,278 | 1.1 | 223,302,473 | ||
Other Securities | 0.2 | 42,196,682 | |||
2.4 | 506,999,090 | ||||
Transportation 2.2% | |||||
Other Securities | 2.2 | 474,344,065 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Utilities 2.9% | |||||
Other Securities | 2.9 | 629,016,441 | |||
Total Common Stock | |||||
(Cost $12,296,413,364) | 21,436,762,073 | ||||
Other Investment Company 0.1% of net assets | |||||
Securities Lending Collateral 0.1% | |||||
Other Securities | 0.1 | 22,609,285 | |||
Total Other Investment Company | |||||
(Cost $22,609,285) | 22,609,285 | ||||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | ||
Short-Term Investment 0.6% of net assets | |||||
Time Deposit 0.6% | |||||
JPMorgan Chase Bank 0.03%, 11/02/15 | 120,801,912 | 0.6 | 120,801,912 | ||
Total Short-Term Investment | |||||
(Cost $120,801,912) | 120,801,912 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $22,505,104. |
(c) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 1,200 | 124,422,000 | 5,465,100 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $21,436,762,073 | $— | $— | $21,436,762,073 | |||||
Other Investment Company1 | 22,609,285 | — | — | 22,609,285 | |||||
Short-Term Investment1 | — | 120,801,912 | — | 120,801,912 | |||||
Total | $21,459,371,358 | $120,801,912 | $— | $21,580,173,270 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $5,465,100 | $— | $— | $5,465,100 |
1 | As categorized in the complete schedule of portfolio holdings. |
2 | Futures contracts are not included in Investments in the schedule of condensed portfolio holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $20,397,564) | $42,803,720 | |
Investments in unaffiliated issuers, at value (cost $12,396,817,712) including securities on loan of $22,505,104 | 21,514,760,265 | |
Collateral invested for securities on loan, at value (cost $22,609,285) | + | 22,609,285 |
Total investments, at value (cost $12,439,824,561) | 21,580,173,270 | |
Cash | 9,738 | |
Deposit with broker for futures contracts | 7,820,000 | |
Receivables: | ||
Investments sold | 4,067,345 | |
Dividends | 24,633,673 | |
Fund shares sold | 23,643,908 | |
Income from securities on loan | 73,745 | |
Interest | 201 | |
Prepaid expenses | + | 174,881 |
Total assets | 21,640,596,761 | |
Liabilities | ||
Collateral held for securities on loan | 22,609,285 | |
Payables: | ||
Investment adviser and administrator fees | 200,555 | |
Shareholder service fees | 72,856 | |
Fund shares redeemed | 30,112,769 | |
Variation margin on futures contracts | 558,000 | |
Accrued expenses | + | 538,157 |
Total liabilities | 54,091,622 | |
Net Assets | ||
Total assets | 21,640,596,761 | |
Total liabilities | – | 54,091,622 |
Net assets | $21,586,505,139 | |
Net Assets by Source | ||
Capital received from investors | 11,908,325,877 | |
Net investment income not yet distributed | 357,061,921 | |
Net realized capital gains | 175,303,532 | |
Net unrealized capital appreciation | 9,145,813,809 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$21,586,505,139 | 654,187,686 | $33.00 | ||
Investment Income | ||
Dividends received from affiliated issuer | $316,939 | |
Dividends received from unaffiliated issuers (net of foreign withholding taxes of $28,190) | 458,778,460 | |
Interest | 62,792 | |
Securities on loan | + | 888,386 |
Total investment income | 460,046,577 | |
Expenses | ||
Investment adviser and administrator fees | 12,750,221 | |
Shareholder service fees | 4,026,750 | |
Shareholder reports | 459,620 | |
Portfolio accounting fees | 421,293 | |
Transfer agent fees | 421,178 | |
Custodian fees | 371,552 | |
Registration fees | 315,262 | |
Professional fees | 128,685 | |
Independent trustees' fees | 108,343 | |
Proxy fees | 79,479 | |
Index fees | 77,648 | |
Interest expense | 1,112 | |
Other expenses | + | 489,351 |
Total expenses | 19,650,494 | |
Expense reduction by CSIM and its affiliates | – | 446,076 |
Net expenses | – | 19,204,418 |
Net investment income | 440,842,159 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on unaffiliated issuers | 373,843,871 | |
Net realized gains on futures contracts | + | 34,626,831 |
Net realized gains | 408,470,702 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 2,552,369 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 208,142,819 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (6,901,375) |
Net change in unrealized appreciation (depreciation) | + | 203,793,813 |
Net realized and unrealized gains | 612,264,515 | |
Increase in net assets resulting from operations | $1,053,106,674 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $440,842,159 | $356,205,063 | |
Net realized gains | 408,470,702 | 93,310,110 | |
Net change in unrealized appreciation (depreciation) | + | 203,793,813 | 2,525,286,191 |
Increase in net assets from operations | 1,053,106,674 | 2,974,801,364 | |
Distributions to Shareholders | |||
Distributions from net investment income | ($369,772,138) | ($297,103,536) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 141,493,107 | $4,563,459,195 | 139,516,160 | $4,137,951,788 | |
Shares reinvested | 10,513,082 | 323,697,799 | 9,293,269 | 257,330,630 | |
Shares redeemed | + | (137,893,672) | (4,457,275,751) | (125,148,250) | (3,720,729,510) |
Net transactions in fund shares | 14,112,517 | $429,881,243 | 23,661,179 | $674,552,908 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 640,075,169 | $20,473,289,360 | 616,413,990 | $17,121,038,624 | |
Total increase | + | 14,112,517 | 1,113,215,779 | 23,661,179 | 3,352,250,736 |
End of period | 654,187,686 | $21,586,505,139 | 640,075,169 | $20,473,289,360 | |
Net investment income not yet distributed | $357,061,921 | $289,403,265 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $53.63 | $48.31 | $40.23 | $37.44 | $35.79 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.94 | 0.83 | 0.81 | 0.71 | 0.62 | |
Net realized and unrealized gains (losses) | 1.40 | 6.74 | 9.74 | 4.32 | 2.07 | |
Total from investment operations | 2.34 | 7.57 | 10.55 | 5.03 | 2.69 | |
Less distributions: | ||||||
Distributions from net investment income | (0.86) | (0.75) | (0.81) | (0.72) | (0.57) | |
Distributions from net realized gains | (1.44) | (1.50) | (1.66) | (1.52) | (0.47) | |
Total distributions | (2.30) | (2.25) | (2.47) | (2.24) | (1.04) | |
Net asset value at end of period | $53.67 | $53.63 | $48.31 | $40.23 | $37.44 | |
Total return | 4.66% | 16.36% | 27.85% | 14.38% | 7.60% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | |
Gross operating expenses | 0.33% | 0.33% | 0.34% | 0.34% | 0.34% | |
Net investment income (loss) | 1.77% | 1.64% | 1.87% | 1.85% | 1.64% | |
Portfolio turnover rate | 4% | 4% | 4% | 4% | 5% | |
Net assets, end of period (x 1,000,000) | $6,550 | $6,586 | $5,887 | $4,848 | $4,552 | |
Holdings by Category | Cost ($) | Value ($) | |
99.4% | Common Stock | 2,065,086,022 | 6,513,773,763 |
0.7% | Other Investment Companies | 45,418,794 | 45,418,794 |
100.1% | Total Investments | 2,110,504,816 | 6,559,192,557 |
(0.1%) | Other Assets and Liabilities, Net | (9,269,301) | |
100.0% | Net Assets | 6,549,923,256 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Common Stock 99.4% of net assets | |||||
Automobiles & Components 1.2% | |||||
Other Securities | 1.2 | 76,105,709 | |||
Banks 5.5% | |||||
Bank of America Corp. | 3,277,241 | 0.8 | 54,992,104 | ||
Citigroup, Inc. | 945,456 | 0.8 | 50,269,896 | ||
JPMorgan Chase & Co. | 1,160,878 | 1.1 | 74,586,412 | ||
Wells Fargo & Co. | 1,466,996 | 1.2 | 79,423,163 | ||
Other Securities | 1.6 | 103,167,402 | |||
5.5 | 362,438,977 | ||||
Capital Goods 7.4% | |||||
3M Co. | 193,754 | 0.5 | 30,460,066 | ||
General Electric Co. | 3,162,802 | 1.4 | 91,468,234 | ||
The Boeing Co. | 200,889 | 0.4 | 29,745,634 | ||
Other Securities | 5.1 | 332,175,496 | |||
7.4 | 483,849,430 | ||||
Commercial & Professional Supplies 0.8% | |||||
Other Securities | 0.8 | 54,687,801 | |||
Consumer Durables & Apparel 1.5% | |||||
NIKE, Inc., Class B | 211,456 | 0.4 | 27,707,080 | ||
Other Securities | 1.1 | 73,329,957 | |||
1.5 | 101,037,037 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Consumer Services 2.3% | |||||
McDonald's Corp. | 293,636 | 0.5 | 32,960,641 | ||
Starbucks Corp. | 468,254 | 0.5 | 29,298,653 | ||
Other Securities | 1.3 | 85,629,819 | |||
2.3 | 147,889,113 | ||||
Diversified Financials 4.7% | |||||
Berkshire Hathaway, Inc., Class B * | 588,012 | 1.2 | 79,981,392 | ||
The Charles Schwab Corp. (a) | 375,265 | 0.2 | 11,453,088 | ||
Other Securities | 3.3 | 218,082,234 | |||
4.7 | 309,516,714 | ||||
Energy 6.7% | |||||
Chevron Corp. | 588,837 | 0.8 | 53,513,507 | ||
Exxon Mobil Corp. | 1,309,563 | 1.7 | 108,353,243 | ||
Schlumberger Ltd. | 397,547 | 0.5 | 31,072,273 | ||
Other Securities | 3.7 | 244,156,899 | |||
6.7 | 437,095,922 | ||||
Food & Staples Retailing 2.1% | |||||
CVS Health Corp. | 350,211 | 0.5 | 34,593,843 | ||
Wal-Mart Stores, Inc. | 494,027 | 0.5 | 28,278,105 | ||
Other Securities | 1.1 | 72,412,344 | |||
2.1 | 135,284,292 | ||||
Food, Beverage & Tobacco 5.1% | |||||
Altria Group, Inc. | 617,605 | 0.6 | 37,346,574 | ||
PepsiCo, Inc. | 463,285 | 0.7 | 47,343,094 | ||
Philip Morris International, Inc. | 484,265 | 0.7 | 42,809,026 | ||
The Coca-Cola Co. | 1,232,948 | 0.8 | 52,215,348 | ||
Other Securities | 2.3 | 153,718,228 | |||
5.1 | 333,432,270 | ||||
Health Care Equipment & Services 4.9% | |||||
Medtronic plc | 444,022 | 0.5 | 32,822,106 | ||
UnitedHealth Group, Inc. | 300,492 | 0.6 | 35,391,948 | ||
Other Securities | 3.8 | 249,387,164 | |||
4.9 | 317,601,218 | ||||
Household & Personal Products 1.8% | |||||
The Procter & Gamble Co. | 846,819 | 1.0 | 64,680,035 | ||
Other Securities | 0.8 | 51,479,193 | |||
1.8 | 116,159,228 | ||||
Insurance 3.0% | |||||
Other Securities | 3.0 | 199,138,282 | |||
Materials 3.2% | |||||
Other Securities | 3.2 | 207,035,591 | |||
Media 3.4% | |||||
Comcast Corp., Class A | 781,623 | 0.8 | 48,945,232 | ||
The Walt Disney Co. | 487,560 | 0.8 | 55,455,075 | ||
Other Securities | 1.8 | 120,370,143 | |||
3.4 | 224,770,450 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Pharmaceuticals, Biotechnology & Life Sciences 9.3% | |||||
AbbVie, Inc. | 519,726 | 0.5 | 30,949,683 | ||
Allergan plc * | 123,677 | 0.6 | 38,150,644 | ||
Amgen, Inc. | 238,802 | 0.6 | 37,773,700 | ||
Bristol-Myers Squibb Co. | 519,939 | 0.5 | 34,289,977 | ||
Celgene Corp. * | 248,040 | 0.5 | 30,436,988 | ||
Gilead Sciences, Inc. | 459,344 | 0.8 | 49,668,867 | ||
Johnson & Johnson | 869,187 | 1.3 | 87,813,963 | ||
Merck & Co., Inc. | 884,118 | 0.7 | 48,325,890 | ||
Pfizer, Inc. | 1,936,551 | 1.0 | 65,494,155 | ||
Other Securities | 2.8 | 186,289,099 | |||
9.3 | 609,192,966 | ||||
Real Estate 3.7% | |||||
Other Securities | 3.7 | 243,787,721 | |||
Retailing 5.2% | |||||
Amazon.com, Inc. * | 120,241 | 1.1 | 75,258,842 | ||
The Home Depot, Inc. | 402,135 | 0.8 | 49,719,971 | ||
Other Securities | 3.3 | 217,186,017 | |||
5.2 | 342,164,830 | ||||
Semiconductors & Semiconductor Equipment 2.3% | |||||
Intel Corp. | 1,493,680 | 0.8 | 50,576,005 | ||
Other Securities | 1.5 | 102,427,744 | |||
2.3 | 153,003,749 | ||||
Software & Services 11.8% | |||||
Alphabet, Inc., Class A * | 89,988 | 1.0 | 66,356,251 | ||
Alphabet, Inc., Class C * | 93,732 | 1.0 | 66,625,643 | ||
Facebook, Inc., Class A * | 708,500 | 1.1 | 72,245,745 | ||
International Business Machines Corp. | 282,040 | 0.6 | 39,508,163 | ||
MasterCard, Inc., Class A | 312,010 | 0.5 | 30,885,870 | ||
Microsoft Corp. | 2,507,338 | 2.0 | 131,986,272 | ||
Oracle Corp. | 1,018,410 | 0.6 | 39,555,044 | ||
Visa, Inc., Class A | 611,200 | 0.7 | 47,416,896 | ||
Other Securities | 4.3 | 279,285,079 | |||
11.8 | 773,864,963 | ||||
Technology Hardware & Equipment 6.1% | |||||
Apple, Inc. | 1,788,174 | 3.3 | 213,686,793 | ||
Cisco Systems, Inc. | 1,599,015 | 0.7 | 46,131,583 | ||
QUALCOMM, Inc. | 492,478 | 0.4 | 29,263,043 | ||
Other Securities | 1.7 | 110,916,054 | |||
6.1 | 399,997,473 | ||||
Telecommunication Services 2.2% | |||||
AT&T, Inc. | 1,926,241 | 1.0 | 64,548,336 | ||
Verizon Communications, Inc. | 1,272,057 | 0.9 | 59,634,032 | ||
Other Securities | 0.3 | 21,151,982 | |||
2.2 | 145,334,350 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Transportation 2.2% | |||||
Other Securities | 2.2 | 141,970,234 | |||
Utilities 3.0% | |||||
Other Securities | 3.0 | 198,415,443 | |||
Total Common Stock | |||||
(Cost $2,065,086,022) | 6,513,773,763 | ||||
Other Investment Companies 0.7% of net assets | |||||
Money Market Fund 0.4% | |||||
Other Securities | 0.4 | 24,392,194 | |||
Securities Lending Collateral 0.3% | |||||
Other Securities | 0.3 | 21,026,600 | |||
Total Other Investment Companies | |||||
(Cost $45,418,794) | 45,418,794 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $20,468,476. |
(c) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 225 | 23,329,125 | 1,436,202 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $6,513,773,763 | $— | $— | $6,513,773,763 | |||||
Other Investment Companies1 | 45,418,794 | — | — | 45,418,794 | |||||
Total | $6,559,192,557 | $— | $— | $6,559,192,557 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $1,436,202 | $— | $— | $1,436,202 |
1 | As categorized in the complete schedule of portfolio holdings. |
2 | Futures contracts are not included in Investments in the schedule of condensed portfolio holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $2,209,352) | $11,453,088 | |
Investments in unaffiliated issuers, at value (cost $2,087,268,864) including securities on loan of $20,468,476 | 6,526,712,869 | |
Collateral invested for securities on loan, at value (cost $21,026,600) | + | 21,026,600 |
Total investments, at value (cost $2,110,504,816) | 6,559,192,557 | |
Deposit with broker for futures contracts | 2,645,000 | |
Receivables: | ||
Investments sold | 2,555,020 | |
Dividends | 6,944,993 | |
Fund shares sold | 1,861,039 | |
Income from securities on loan | 7,149 | |
Prepaid expenses | + | 51,551 |
Total assets | 6,573,257,309 | |
Liabilities | ||
Collateral held for securities on loan | 21,026,600 | |
Payables: | ||
Investment adviser and administrator fees | 191,023 | |
Shareholder service fees | 104,540 | |
Fund shares redeemed | 1,713,160 | |
Variation margin on futures contracts | 104,625 | |
Accrued expenses | + | 194,105 |
Total liabilities | 23,334,053 | |
Net Assets | ||
Total assets | 6,573,257,309 | |
Total liabilities | – | 23,334,053 |
Net assets | $6,549,923,256 | |
Net Assets by Source | ||
Capital received from investors | 1,719,572,429 | |
Net investment income not yet distributed | 92,741,182 | |
Net realized capital gains | 287,485,702 | |
Net unrealized capital appreciation | 4,450,123,943 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$6,549,923,256 | 122,043,407 | $53.67 | ||
Investment Income | ||
Dividends received from affiliated issuer | $86,800 | |
Dividends received from unaffiliated issuers (net of foreign withholding taxes of $15,174) | 135,824,860 | |
Interest | 452 | |
Securities on loan | + | 566,702 |
Total investment income | 136,478,814 | |
Expenses | ||
Investment adviser and administrator fees | 14,623,547 | |
Shareholder service fees | 6,378,884 | |
Shareholder reports | 207,471 | |
Portfolio accounting fees | 165,519 | |
Custodian fees | 112,441 | |
Transfer agent fees | 91,713 | |
Professional fees | 70,963 | |
Independent trustees' fees | 57,273 | |
Registration fees | 37,894 | |
Proxy fees | 32,215 | |
Interest expense | 296 | |
Other expenses | + | 197,505 |
Total expenses | 21,975,721 | |
Expense reduction by CSIM and its affiliates | – | 2,770,669 |
Net expenses | – | 19,205,052 |
Net investment income | 117,273,762 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on affiliated issuer | 197,850 | |
Net realized gains on unaffiliated issuers | 262,649,898 | |
Net realized gains on futures contracts | + | 1,030,367 |
Net realized gains | 263,878,115 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 523,211 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | (79,848,109) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 635,351 |
Net change in unrealized appreciation (depreciation) | + | (78,689,547) |
Net realized and unrealized gains | 185,188,568 | |
Increase in net assets resulting from operations | $302,462,330 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $117,273,762 | $102,452,866 | |
Net realized gains | 263,878,115 | 177,941,436 | |
Net change in unrealized appreciation (depreciation) | + | (78,689,547) | 660,921,380 |
Increase in net assets from operations | 302,462,330 | 941,315,682 | |
Distributions to Shareholders | |||
Distributions from net investment income | (105,608,703) | (91,043,881) | |
Distributions from net realized gains | + | (176,669,683) | (182,379,726) |
Total distributions | ($282,278,386) | ($273,423,607) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 8,572,420 | $453,508,106 | 8,474,992 | $424,679,163 | |
Shares reinvested | 4,867,270 | 244,385,619 | 5,073,441 | 236,878,978 | |
Shares redeemed | + | (14,211,205) | (754,521,955) | (12,594,623) | (630,314,274) |
Net transactions in fund shares | (771,515) | ($56,628,230) | 953,810 | $31,243,867 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 122,814,922 | $6,586,367,542 | 121,861,112 | $5,887,231,600 | |
Total increase or decrease | + | (771,515) | (36,444,286) | 953,810 | 699,135,942 |
End of period | 122,043,407 | $6,549,923,256 | 122,814,922 | $6,586,367,542 | |
Net investment income not yet distributed | $92,741,182 | $82,633,843 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $28.13 | $27.62 | $21.26 | $20.55 | $19.18 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.38 | 0.35 | 0.42 | 0.33 | 0.25 | |
Net realized and unrealized gains (losses) | (0.34) | 1.76 | 6.94 | 1.89 | 1.37 | |
Total from investment operations | 0.04 | 2.11 | 7.36 | 2.22 | 1.62 | |
Less distributions: | ||||||
Distributions from net investment income | (0.34) | (0.31) | (0.50) | (0.35) | (0.20) | |
Distributions from net realized gains | (1.54) | (1.29) | (0.50) | (1.16) | (0.05) | |
Total distributions | (1.88) | (1.60) | (1.00) | (1.51) | (0.25) | |
Net asset value at end of period | $26.29 | $28.13 | $27.62 | $21.26 | $20.55 | |
Total return | 0.36% | 8.08% | 36.23% | 11.87% | 8.45% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.17% | 0.17% | 0.17% | 0.17% | 0.19% | |
Gross operating expenses | 0.20% | 0.21% | 0.20% | 0.21% | 0.19% | |
Net investment income (loss) | 1.37% | 1.27% | 1.76% | 1.63% | 1.18% | |
Portfolio turnover rate | 17% | 12% | 11% | 41% 2 | 26% | |
Net assets, end of period (x 1,000,000) | $2,607 | $2,567 | $2,351 | $1,675 | $1,502 | |
Holdings by Category | Cost ($) | Value ($) | |
99.4% | Common Stock | 1,996,193,500 | 2,590,361,425 |
0.0% | Rights | 320,914 | 320,914 |
0.0% | Warrants | — | — |
6.4% | Other Investment Company | 166,858,920 | 166,858,920 |
0.4% | Short-Term Investment | 10,766,144 | 10,766,144 |
106.2% | Total Investments | 2,174,139,478 | 2,768,307,403 |
(6.2%) | Other Assets and Liabilities, Net | (161,052,176) | |
100.0% | Net Assets | 2,607,255,227 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Common Stock 99.4% of net assets | |||||
Automobiles & Components 1.2% | |||||
Tenneco, Inc. * | 91,428 | 0.2 | 5,173,911 | ||
Other Securities | 1.0 | 26,951,806 | |||
1.2 | 32,125,717 | ||||
Banks 11.2% | |||||
Bank of the Ozarks, Inc. | 116,159 | 0.2 | 5,810,273 | ||
Investors Bancorp, Inc. | 528,352 | 0.3 | 6,609,683 | ||
PrivateBancorp, Inc. | 118,776 | 0.2 | 4,968,400 | ||
Prosperity Bancshares, Inc. | 104,295 | 0.2 | 5,358,677 | ||
Umpqua Holdings Corp. | 331,688 | 0.2 | 5,539,190 | ||
Webster Financial Corp. | 136,127 | 0.2 | 5,050,312 | ||
Other Securities | 9.9 | 257,811,194 | |||
11.2 | 291,147,729 | ||||
Capital Goods 7.2% | |||||
Curtiss-Wright Corp. | 71,640 | 0.2 | 4,983,278 | ||
Other Securities | 7.0 | 181,918,115 | |||
7.2 | 186,901,393 | ||||
Commercial & Professional Supplies 3.6% | |||||
Other Securities | 3.6 | 93,016,620 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Consumer Durables & Apparel 2.5% | |||||
Other Securities | 2.5 | 64,598,468 | |||
Consumer Services 4.4% | |||||
Vail Resorts, Inc. | 54,771 | 0.2 | 6,253,205 | ||
Other Securities | 4.2 | 108,138,991 | |||
4.4 | 114,392,196 | ||||
Diversified Financials 2.2% | |||||
MarketAxess Holdings, Inc. | 55,422 | 0.2 | 5,614,803 | ||
Other Securities | 2.0 | 51,075,328 | |||
2.2 | 56,690,131 | ||||
Energy 3.0% | |||||
Other Securities | 3.0 | 79,416,926 | |||
Food & Staples Retailing 0.9% | |||||
Casey's General Stores, Inc. | 57,506 | 0.2 | 6,108,287 | ||
Other Securities | 0.7 | 16,953,170 | |||
0.9 | 23,061,457 | ||||
Food, Beverage & Tobacco 2.1% | |||||
Post Holdings, Inc. * | 92,699 | 0.2 | 5,957,765 | ||
TreeHouse Foods, Inc. * | 63,252 | 0.2 | 5,416,901 | ||
Other Securities | 1.7 | 44,017,196 | |||
2.1 | 55,391,862 | ||||
Health Care Equipment & Services 6.7% | |||||
Amsurg Corp. * | 72,053 | 0.2 | 5,050,195 | ||
STERIS Corp. (c) | 126,127 | 0.4 | 9,453,219 | ||
Team Health Holdings, Inc. * | 106,058 | 0.2 | 6,328,481 | ||
WellCare Health Plans, Inc. * | 65,906 | 0.2 | 5,839,272 | ||
West Pharmaceutical Services, Inc. | 108,532 | 0.2 | 6,513,005 | ||
Other Securities | 5.5 | 142,750,917 | |||
6.7 | 175,935,089 | ||||
Household & Personal Products 0.4% | |||||
Other Securities | 0.4 | 9,962,853 | |||
Insurance 2.6% | |||||
CNO Financial Group, Inc. | 296,168 | 0.2 | 5,689,387 | ||
First American Financial Corp. | 162,900 | 0.3 | 6,211,377 | ||
Other Securities | 2.1 | 55,487,923 | |||
2.6 | 67,388,687 | ||||
Materials 3.8% | |||||
Berry Plastics Group, Inc. * | 180,257 | 0.2 | 6,038,609 | ||
Other Securities | 3.6 | 92,302,355 | |||
3.8 | 98,340,964 | ||||
Media 1.6% | |||||
Other Securities | 1.6 | 41,322,125 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Pharmaceuticals, Biotechnology & Life Sciences 8.3% | |||||
Anacor Pharmaceuticals, Inc. * | 62,396 | 0.3 | 7,013,934 | ||
Dyax Corp. * | 221,213 | 0.2 | 6,089,994 | ||
Neurocrine Biosciences, Inc. * | 129,903 | 0.3 | 6,376,938 | ||
PAREXEL International Corp. * | 82,880 | 0.2 | 5,231,386 | ||
Ultragenyx Pharmaceutical, Inc. * | 57,341 | 0.2 | 5,696,828 | ||
Other Securities | 7.1 | 185,537,036 | |||
8.3 | 215,946,116 | ||||
Real Estate 9.6% | |||||
CubeSmart | 247,243 | 0.3 | 6,878,300 | ||
DCT Industrial Trust, Inc. | 133,626 | 0.2 | 4,960,197 | ||
Highwoods Properties, Inc. | 138,207 | 0.2 | 6,005,094 | ||
LaSalle Hotel Properties | 168,379 | 0.2 | 4,952,026 | ||
Sovran Self Storage, Inc. | 53,417 | 0.2 | 5,334,756 | ||
Strategic Hotels & Resorts, Inc. * | 407,984 | 0.2 | 5,752,574 | ||
Other Securities | 8.3 | 217,627,491 | |||
9.6 | 251,510,438 | ||||
Retailing 4.3% | |||||
Burlington Stores, Inc. * | 113,791 | 0.2 | 5,471,071 | ||
Pool Corp. | 65,028 | 0.2 | 5,302,383 | ||
Restoration Hardware Holdings, Inc. * | 49,241 | 0.2 | 5,076,255 | ||
Other Securities | 3.7 | 96,812,260 | |||
4.3 | 112,661,969 | ||||
Semiconductors & Semiconductor Equipment 3.3% | |||||
Cavium, Inc. * | 82,300 | 0.2 | 5,839,185 | ||
Integrated Device Technology, Inc. * | 220,089 | 0.2 | 5,612,269 | ||
Microsemi Corp. * | 141,981 | 0.2 | 5,112,736 | ||
Other Securities | 2.7 | 68,765,210 | |||
3.3 | 85,329,400 | ||||
Software & Services 9.4% | |||||
Aspen Technology, Inc. * | 128,199 | 0.2 | 5,306,157 | ||
EPAM Systems, Inc. * | 72,383 | 0.2 | 5,598,825 | ||
Euronet Worldwide, Inc. * | 76,982 | 0.2 | 6,177,036 | ||
Guidewire Software, Inc. * | 103,927 | 0.2 | 6,051,669 | ||
j2 Global, Inc. | 71,228 | 0.2 | 5,523,731 | ||
Manhattan Associates, Inc. * | 111,088 | 0.3 | 8,092,761 | ||
MAXIMUS, Inc. | 98,817 | 0.3 | 6,739,319 | ||
Tyler Technologies, Inc. * | 49,952 | 0.3 | 8,509,823 | ||
Other Securities | 7.5 | 194,065,371 | |||
9.4 | 246,064,692 | ||||
Technology Hardware & Equipment 4.9% | |||||
Other Securities | 4.9 | 127,971,040 | |||
Telecommunication Services 0.9% | |||||
Other Securities | 0.9 | 22,811,868 | |||
Transportation 1.5% | |||||
Other Securities | 1.5 | 40,418,673 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Utilities 3.8% | |||||
IDACORP, Inc. | 76,243 | 0.2 | 5,096,845 | ||
Piedmont Natural Gas Co., Inc. | 117,906 | 0.3 | 6,757,193 | ||
Other Securities | 3.3 | 86,100,974 | |||
3.8 | 97,955,012 | ||||
Total Common Stock | |||||
(Cost $1,996,193,500) | 2,590,361,425 | ||||
Rights 0.0% of net assets | |||||
Automobiles & Components 0.0% | |||||
Other Securities | 0.0 | 107,470 | |||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | |||||
Other Securities | 0.0 | — | |||
Telecommunication Services 0.0% | |||||
Other Securities | 0.0 | 213,444 | |||
Total Rights | |||||
(Cost $320,914) | 320,914 | ||||
Warrants 0.0% of net assets | |||||
Energy 0.0% | |||||
Other Securities | 0.0 | — | |||
Total Warrants | |||||
(Cost $—) | — | ||||
Other Investment Company 6.4% of net assets | |||||
Securities Lending Collateral 6.4% | |||||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (d) | 166,858,920 | 6.4 | 166,858,920 | ||
Total Other Investment Company | |||||
(Cost $166,858,920) | 166,858,920 | ||||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | ||
Short-Term Investment 0.4% of net assets | |||||
Time Deposit 0.4% | |||||
Sumitomo Mitsui Banking Corp. 0.03%, 11/02/15 | 10,766,144 | 0.4 | 10,766,144 | ||
Total Short-Term Investment | |||||
(Cost $10,766,144) | 10,766,144 |
At 10/31/15, the tax basis cost of the fund's investments was $2,184,722,405 and the unrealized appreciation and depreciation were $844,629,291 and ($261,044,293), respectively, with a net unrealized appreciation of $583,584,998.
* | Non-income producing security. |
(a) | Illiquid security. At the period end, the value of these amounted to $320,914 or 0.0% of net assets. |
(b) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(c) | All or a portion of this security is on loan. Securities on loan were valued at $161,902,253. |
(d) | The rate shown is the 7-day yield. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/18/15 | 106 | 12,277,980 | 45,208 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $2,344,296,733 | $— | $— | $2,344,296,733 | |||||
Software & Services | 246,011,670 | — | 53,022 | 246,064,692 | |||||
Rights 1 | — | — | 320,914 | 320,914 | |||||
Warrants 1 | — | — | — | — | |||||
Other Investment Company1 | 166,858,920 | — | — | 166,858,920 | |||||
Short-Term Investment1 | — | 10,766,144 | — | 10,766,144 | |||||
Total | $2,757,167,323 | $10,766,144 | $373,936 | $2,768,307,403 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $45,208 | $— | $— | $45,208 |
1 | As categorized in the complete schedule of portfolio holdings. |
2 | Futures contracts are not included in Investments in the schedule of condensed portfolio holdings and are valued at unrealized appreciation or depreciation. |
Investments in Securities | Balance as of October 31, 2014 | Realized Gains (Losses) | Change in Unrealized Appreciation (Depreciation) | Gross Purchases | Gross Sales | Gross Transfers in | Gross Transfers out | Balance as of October 31, 2015 | ||||||||
Common Stock | $— | $— | ($111,917) | $164,939 | $— | $— | $— | $53,022 | ||||||||
Rights | 320,914 | — | — | — | — | — | — | 320,914 | ||||||||
Total | $320,914 | $— | ($111,917) | $164,939 | $— | $— | $— | $373,936 |
Assets | ||
Investments, at value (cost $2,007,280,558) including securities on loan of $161,902,253 | $2,601,448,483 | |
Collateral invested for securities on loan, at value (cost $166,858,920) | + | 166,858,920 |
Total investments, at value (cost $2,174,139,478) | 2,768,307,403 | |
Deposit with broker for futures contracts | 1,759,500 | |
Receivables: | ||
Investments sold | 4,080,558 | |
Fund shares sold | 3,309,059 | |
Dividends | 972,705 | |
Income from securities on loan | 557,406 | |
Receivable from investment adviser | 623 | |
Interest | 17 | |
Prepaid expenses | + | 33,217 |
Total assets | 2,779,020,488 | |
Liabilities | ||
Collateral held for securities on loan | 166,858,920 | |
Payables: | ||
Investment adviser and administrator fees | 47,709 | |
Shareholder service fees | 8,569 | |
Fund shares redeemed | 4,549,845 | |
Variation margin on futures contracts | 31,647 | |
Accrued expenses | + | 268,571 |
Total liabilities | 171,765,261 | |
Net Assets | ||
Total assets | 2,779,020,488 | |
Total liabilities | – | 171,765,261 |
Net assets | $2,607,255,227 | |
Net Assets by Source | ||
Capital received from investors | 1,863,086,383 | |
Net investment income not yet distributed | 26,542,110 | |
Net realized capital gains | 123,413,601 | |
Net unrealized capital appreciation | 594,213,133 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$2,607,255,227 | 99,169,772 | $26.29 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $16,606) | $35,118,776 | |
Interest | 8,733 | |
Securities on loan | + | 5,782,041 |
Total investment income | 40,909,550 | |
Expenses | ||
Investment adviser and administrator fees | 3,971,644 | |
Shareholder service fees | 506,320 | |
Index fees | 343,832 | |
Shareholder reports | 117,626 | |
Portfolio accounting fees | 111,528 | |
Transfer agent fees | 63,024 | |
Registration fees | 60,922 | |
Custodian fees | 60,767 | |
Professional fees | 49,359 | |
Proxy fees | 21,763 | |
Independent trustees' fees | 19,364 | |
Interest expense | 1,215 | |
Other expenses | + | 71,681 |
Total expenses | 5,399,045 | |
Expense reduction by CSIM and its affiliates | – | 875,132 |
Net expenses | – | 4,523,913 |
Net investment income | 36,385,637 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 127,593,996 | |
Net realized gains on futures contracts | 1,816,045 | |
Net realized losses on foreign currency transactions | + | (237) |
Net realized gains | 129,409,804 | |
Net change in unrealized appreciation (depreciation) on investments | (161,730,493) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (157,690) |
Net change in unrealized appreciation (depreciation) | + | (161,888,183) |
Net realized and unrealized losses | (32,478,379) | |
Increase in net assets resulting from operations | $3,907,258 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $36,385,637 | $31,769,876 | |
Net realized gains | 129,409,804 | 144,072,375 | |
Net change in unrealized appreciation (depreciation) | + | (161,888,183) | 15,102,446 |
Increase in net assets from operations | 3,907,258 | 190,944,697 | |
Distributions to Shareholders | |||
Distributions from net investment income | (31,478,925) | (26,168,327) | |
Distributions from net realized gains | + | (140,885,597) | (110,361,333) |
Total distributions | ($172,364,522) | ($136,529,660) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 22,816,080 | $620,636,969 | 19,513,159 | $532,426,174 | |
Shares reinvested | 6,143,892 | 156,607,812 | 4,820,637 | 125,963,244 | |
Shares redeemed | + | (21,022,054) | (568,337,329) | (18,247,583) | (497,352,580) |
Net transactions in fund shares | 7,937,918 | $208,907,452 | 6,086,213 | $161,036,838 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 91,231,854 | $2,566,805,039 | 85,145,641 | $2,351,353,164 | |
Total increase | + | 7,937,918 | 40,450,188 | 6,086,213 | 215,451,875 |
End of period | 99,169,772 | $2,607,255,227 | 91,231,854 | $2,566,805,039 | |
Net investment income not yet distributed | $26,542,110 | $22,176,318 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $36.96 | $32.53 | $25.80 | $22.92 | $21.57 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.72 1 | 0.60 | 0.57 | 0.47 | 0.41 | |
Net realized and unrealized gains (losses) | 0.83 | 4.49 | 6.70 | 2.83 | 1.33 | |
Total from investment operations | 1.55 | 5.09 | 7.27 | 3.30 | 1.74 | |
Less distributions: | ||||||
Distributions from net investment income | (0.61) | (0.51) | (0.54) | (0.42) | (0.39) | |
Distributions from net realized gains | (0.21) | (0.15) | — | — | — | |
Total distributions | (0.82) | (0.66) | (0.54) | (0.42) | (0.39) | |
Net asset value at end of period | $37.69 | $36.96 | $32.53 | $25.80 | $22.92 | |
Total return | 4.36% | 15.93% | 28.76% | 14.71% | 8.14% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | |
Gross operating expenses | 0.11% | 0.10% | 0.10% | 0.10% | 0.11% | |
Net investment income (loss) | 1.92% | 1.79% | 2.02% | 2.02% | 1.79% | |
Portfolio turnover rate | 2% | 1% | 2% | 3% | 1% | |
Net assets, end of period (x 1,000,000) | $4,477 | $4,049 | $3,183 | $2,240 | $1,747 | |
Holdings by Category | Cost ($) | Value ($) | |
99.2% | Common Stock | 2,804,713,777 | 4,440,133,759 |
0.0% | Rights | 32,982 | 32,760 |
0.0% | Warrants | — | — |
0.8% | Other Investment Company | 36,468,372 | 36,468,372 |
1.5% | Short-Term Investments | 67,205,632 | 67,205,632 |
101.5% | Total Investments | 2,908,420,763 | 4,543,840,523 |
(1.5%) | Other Assets and Liabilities, Net | (66,982,719) | |
100.0% | Net Assets | 4,476,857,804 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Common Stock 99.2% of net assets | |||||
Automobiles & Components 1.2% | |||||
Other Securities | 1.2 | 51,751,144 | |||
Banks 6.0% | |||||
Bank of America Corp. | 2,052,101 | 0.8 | 34,434,255 | ||
Citigroup, Inc. | 591,989 | 0.7 | 31,476,055 | ||
JPMorgan Chase & Co. | 727,563 | 1.0 | 46,745,923 | ||
Wells Fargo & Co. | 918,113 | 1.1 | 49,706,638 | ||
Other Securities | 2.4 | 107,999,194 | |||
6.0 | 270,362,065 | ||||
Capital Goods 7.4% | |||||
3M Co. | 122,357 | 0.4 | 19,235,744 | ||
General Electric Co. | 1,978,012 | 1.3 | 57,204,107 | ||
The Boeing Co. | 125,636 | 0.4 | 18,602,923 | ||
Other Securities | 5.3 | 236,513,979 | |||
7.4 | 331,556,753 | ||||
Commercial & Professional Supplies 1.1% | |||||
Other Securities | 1.1 | 48,329,463 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Consumer Durables & Apparel 1.6% | |||||
Other Securities | 1.6 | 73,744,458 | |||
Consumer Services 2.3% | |||||
McDonald's Corp. | 183,940 | 0.5 | 20,647,265 | ||
Other Securities | 1.8 | 82,952,324 | |||
2.3 | 103,599,589 | ||||
Diversified Financials 4.6% | |||||
Berkshire Hathaway, Inc., Class B * | 368,002 | 1.1 | 50,055,632 | ||
The Charles Schwab Corp. (a) | 240,126 | 0.2 | 7,328,646 | ||
Other Securities | 3.3 | 146,609,159 | |||
4.6 | 203,993,437 | ||||
Energy 6.5% | |||||
Chevron Corp. | 369,023 | 0.8 | 33,536,810 | ||
Exxon Mobil Corp. | 819,399 | 1.5 | 67,797,073 | ||
Schlumberger Ltd. | 246,103 | 0.4 | 19,235,411 | ||
Other Securities | 3.8 | 168,602,393 | |||
6.5 | 289,171,687 | ||||
Food & Staples Retailing 1.9% | |||||
CVS Health Corp. | 218,937 | 0.5 | 21,626,597 | ||
Other Securities | 1.4 | 65,015,889 | |||
1.9 | 86,642,486 | ||||
Food, Beverage & Tobacco 4.8% | |||||
Altria Group, Inc. | 381,823 | 0.5 | 23,088,837 | ||
PepsiCo, Inc. | 287,358 | 0.7 | 29,365,114 | ||
Philip Morris International, Inc. | 304,009 | 0.6 | 26,874,396 | ||
The Coca-Cola Co. | 764,614 | 0.7 | 32,381,403 | ||
Other Securities | 2.3 | 104,276,201 | |||
4.8 | 215,985,951 | ||||
Health Care Equipment & Services 4.9% | |||||
Medtronic plc | 275,688 | 0.4 | 20,378,857 | ||
UnitedHealth Group, Inc. | 186,481 | 0.5 | 21,963,732 | ||
Other Securities | 4.0 | 178,000,544 | |||
4.9 | 220,343,133 | ||||
Household & Personal Products 1.7% | |||||
The Procter & Gamble Co. | 533,724 | 0.9 | 40,765,839 | ||
Other Securities | 0.8 | 34,670,956 | |||
1.7 | 75,436,795 | ||||
Insurance 3.1% | |||||
Other Securities | 3.1 | 136,996,720 | |||
Materials 3.2% | |||||
Other Securities | 3.2 | 145,020,545 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Media 3.3% | |||||
Comcast Corp., Class A | 481,860 | 0.7 | 30,174,073 | ||
The Walt Disney Co. | 302,439 | 0.8 | 34,399,412 | ||
Other Securities | 1.8 | 83,307,417 | |||
3.3 | 147,880,902 | ||||
Pharmaceuticals, Biotechnology & Life Sciences 9.2% | |||||
AbbVie, Inc. | 322,096 | 0.4 | 19,180,817 | ||
Allergan plc * | 77,087 | 0.5 | 23,779,027 | ||
Amgen, Inc. | 150,989 | 0.6 | 23,883,440 | ||
Bristol-Myers Squibb Co. | 326,953 | 0.5 | 21,562,550 | ||
Celgene Corp. * | 155,562 | 0.4 | 19,089,013 | ||
Gilead Sciences, Inc. | 289,192 | 0.7 | 31,270,331 | ||
Johnson & Johnson | 544,109 | 1.2 | 54,971,332 | ||
Merck & Co., Inc. | 556,516 | 0.7 | 30,419,165 | ||
Pfizer, Inc. | 1,213,725 | 0.9 | 41,048,179 | ||
Other Securities | 3.3 | 146,409,528 | |||
9.2 | 411,613,382 | ||||
Real Estate 4.2% | |||||
Other Securities | 4.2 | 185,706,820 | |||
Retailing 5.1% | |||||
Amazon.com, Inc. * | 75,225 | 1.0 | 47,083,327 | ||
The Home Depot, Inc. | 251,963 | 0.7 | 31,152,705 | ||
Other Securities | 3.4 | 150,623,627 | |||
5.1 | 228,859,659 | ||||
Semiconductors & Semiconductor Equipment 2.4% | |||||
Intel Corp. | 931,897 | 0.7 | 31,554,032 | ||
Other Securities | 1.7 | 75,354,173 | |||
2.4 | 106,908,205 | ||||
Software & Services 11.5% | |||||
Alphabet, Inc., Class A * | 57,076 | 0.9 | 42,087,272 | ||
Alphabet, Inc., Class C * | 58,027 | 0.9 | 41,246,172 | ||
Facebook, Inc., Class A * | 444,207 | 1.0 | 45,295,788 | ||
International Business Machines Corp. | 176,151 | 0.6 | 24,675,232 | ||
MasterCard, Inc., Class A | 195,156 | 0.4 | 19,318,492 | ||
Microsoft Corp. | 1,569,518 | 1.8 | 82,619,428 | ||
Oracle Corp. | 636,313 | 0.6 | 24,714,397 | ||
Visa, Inc., Class A | 381,804 | 0.7 | 29,620,354 | ||
Other Securities | 4.6 | 203,872,224 | |||
11.5 | 513,449,359 | ||||
Technology Hardware & Equipment 6.0% | |||||
Apple, Inc. | 1,122,262 | 3.0 | 134,110,309 | ||
Cisco Systems, Inc. | 992,840 | 0.7 | 28,643,434 | ||
QUALCOMM, Inc. | 305,839 | 0.4 | 18,172,953 | ||
Other Securities | 1.9 | 86,777,322 | |||
6.0 | 267,704,018 | ||||
Telecommunication Services 2.1% | |||||
AT&T, Inc. | 1,200,507 | 0.9 | 40,228,990 | ||
Verizon Communications, Inc. | 795,069 | 0.8 | 37,272,835 | ||
Other Securities | 0.4 | 17,633,916 | |||
2.1 | 95,135,741 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Transportation 2.1% | |||||
Other Securities | 2.1 | 95,507,598 | |||
Utilities 3.0% | |||||
Other Securities | 3.0 | 134,433,849 | |||
Total Common Stock | |||||
(Cost $2,804,713,777) | 4,440,133,759 | ||||
Rights 0.0% of net assets | |||||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | |||||
Other Securities | 0.0 | — | |||
Technology Hardware & Equipment 0.0% | |||||
Other Securities | 0.0 | — | |||
Telecommunication Services 0.0% | |||||
Other Securities | 0.0 | 32,760 | |||
Total Rights | |||||
(Cost $32,982) | 32,760 | ||||
Warrants 0.0% of net assets | |||||
Energy 0.0% | |||||
Other Securities | 0.0 | — | |||
Total Warrants | |||||
(Cost $—) | — | ||||
Other Investment Company 0.8% of net assets | |||||
Securities Lending Collateral 0.8% | |||||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (d) | 36,468,372 | 0.8 | 36,468,372 | ||
Total Other Investment Company | |||||
(Cost $36,468,372) | 36,468,372 | ||||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | ||
Short-Term Investments 1.5% of net assets | |||||
Time Deposits 1.5% | |||||
Australia & New Zealand Banking Group Ltd. 0.03%, 11/02/15 | 44,948,979 | 1.0 | 44,948,979 | ||
Wells Fargo 0.03%, 11/02/15 | 22,256,653 | 0.5 | 22,256,653 | ||
Total Short-Term Investments | |||||
(Cost $67,205,632) | 67,205,632 |
At 10/31/15, the tax basis cost of the fund's investments was $2,925,724,612 and the unrealized appreciation and depreciation were $1,756,538,810 and ($138,422,899), respectively, with a net unrealized appreciation of $1,618,115,911.
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | Illiquid security. At the period end, the value of these amounted to $32,760 or 0.0% of net assets. |
(c) | All or a portion of this security is on loan. Securities on loan were valued at $35,642,649. |
(d) | The rate shown is the 7-day yield. |
(e) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/18/15 | 35 | 4,054,050 | 52,723 | |||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 230 | 23,847,550 | 1,048,233 | |||
Net Unrealized Appreciation | 1,100,956 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $4,440,133,759 | $— | $— | $4,440,133,759 | |||||
Rights 1 | — | — | 32,760 | 32,760 | |||||
Warrants 1 | — | — | — | — | |||||
Other Investment Company1 | 36,468,372 | — | — | 36,468,372 | |||||
Short-Term Investments1 | — | 67,205,632 | — | 67,205,632 | |||||
Total | $4,476,602,131 | $67,205,632 | $32,760 | $4,543,840,523 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $1,100,956 | $— | $— | $1,100,956 |
1 | As categorized in the complete schedule of portfolio holdings. |
2 | Futures contracts are not included in Investments in the schedule of condensed portfolio holdings and are valued at unrealized appreciation or depreciation. |
Investments in Securities | Balance as of October 31, 2014 | Realized Gains (Losses) | Change in Unrealized Appreciation (Depreciation) | Gross Purchases | Gross Sales | Gross Transfers in | Gross Transfers out | Balance as of October 31, 2015 | ||||||||
Common Stock | $— | ($22,235) | $22,235 | $— | $— | $— | $— | $— | ||||||||
Rights | 32,760 | — | — | — | — | — | — | 32,760 | ||||||||
Total | $32,760 | ($22,235) | $22,235 | $— | $— | $— | $— | $32,760 |
Assets | ||
Investment in affiliated issuer, at value (cost $5,067,611) | $7,328,646 | |
Investments in unaffiliated issuers, at value (cost $2,866,884,780) including securities on loan of $35,642,649 | 4,500,043,505 | |
Collateral invested for securities on loan, at value (cost $36,468,372) | + | 36,468,372 |
Total investments, at value (cost $2,908,420,763) | 4,543,840,523 | |
Deposit with broker for futures contracts | 2,732,000 | |
Receivables: | ||
Investments sold | 1,456,939 | |
Fund shares sold | 4,883,608 | |
Dividends | 4,416,446 | |
Income from securities on loan | 95,875 | |
Interest | 112 | |
Prepaid expenses | + | 49,491 |
Total assets | 4,557,474,994 | |
Liabilities | ||
Collateral held for securities on loan | 36,468,372 | |
Payables: | ||
Investments bought | 41,436,263 | |
Investment adviser and administrator fees | 22,420 | |
Shareholder service fees | 14,194 | |
Fund shares redeemed | 2,139,246 | |
Variation margin on futures contracts | 116,050 | |
Accrued expenses | + | 420,645 |
Total liabilities | 80,617,190 | |
Net Assets | ||
Total assets | 4,557,474,994 | |
Total liabilities | – | 80,617,190 |
Net assets | $4,476,857,804 | |
Net Assets by Source | ||
Capital received from investors | 2,754,963,316 | |
Net investment income not yet distributed | 69,554,519 | |
Net realized capital gains | 15,819,253 | |
Net unrealized capital appreciation | 1,636,520,716 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$4,476,857,804 | 118,777,377 | $37.69 | ||
Investment Income | ||
Dividends received from affiliated issuer | $52,290 | |
Dividends received from unaffiliated issuers (net of foreign withholding taxes of $11,101) | 86,854,870 | |
Interest | 15,040 | |
Securities on loan | + | 999,589 |
Total investment income | 87,921,789 | |
Expenses | ||
Investment adviser and administrator fees | 2,624,219 | |
Shareholder service fees | 836,426 | |
Index fees | 787,602 | |
Portfolio accounting fees | 149,016 | |
Shareholder reports | 114,250 | |
Transfer agent fees | 113,965 | |
Registration fees | 113,810 | |
Custodian fees | 85,047 | |
Professional fees | 56,063 | |
Independent trustees' fees | 27,638 | |
Proxy fees | 23,358 | |
Interest expense | 649 | |
Other expenses | + | 94,608 |
Total expenses | 5,026,651 | |
Expense reduction by CSIM and its affiliates | – | 1,066,591 |
Net expenses | – | 3,960,060 |
Net investment income | 83,961,729 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on unaffiliated issuers | 32,945,196 | |
Net realized gains on futures contracts | + | 4,857,320 |
Net realized gains | 37,802,516 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 380,230 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 57,260,087 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (1,132,385) |
Net change in unrealized appreciation (depreciation) | + | 56,507,932 |
Net realized and unrealized gains | 94,310,448 | |
Increase in net assets resulting from operations | $178,272,177 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $83,961,729 | $64,653,328 | |
Net realized gains | 37,802,516 | 17,885,455 | |
Net change in unrealized appreciation (depreciation) | + | 56,507,932 | 449,857,647 |
Increase in net assets from operations | 178,272,177 | 532,396,430 | |
Distributions to Shareholders | |||
Distributions from net investment income | (68,099,121) | (50,022,427) | |
Distributions from net realized gains | + | (23,418,312) | (14,754,888) |
Total distributions | ($91,517,433) | ($64,777,315) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 24,753,855 | $920,238,549 | 24,674,667 | $847,448,914 | |
Shares reinvested | 2,076,130 | 73,370,427 | 1,621,857 | 52,337,326 | |
Shares redeemed | + | (17,609,468) | (652,741,483) | (14,599,314) | (501,556,679) |
Net transactions in fund shares | 9,220,517 | $340,867,493 | 11,697,210 | $398,229,561 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 109,556,860 | $4,049,235,567 | 97,859,650 | $3,183,386,891 | |
Total increase | + | 9,220,517 | 427,622,237 | 11,697,210 | 865,848,676 |
End of period | 118,777,377 | $4,476,857,804 | 109,556,860 | $4,049,235,567 | |
Net investment income not yet distributed | $69,554,519 | $53,845,311 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $19.42 | $19.92 | $16.32 | $16.02 | $17.31 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.54 1 | 0.64 | 0.49 | 0.57 | 0.57 | |
Net realized and unrealized gains (losses) | (0.86) | (0.63) | 3.69 | 0.33 | (1.38) | |
Total from investment operations | (0.32) | 0.01 | 4.18 | 0.90 | (0.81) | |
Less distributions: | ||||||
Distributions from net investment income | (0.61) | (0.51) | (0.58) | (0.60) | (0.48) | |
Net asset value at end of period | $18.49 | $19.42 | $19.92 | $16.32 | $16.02 | |
Total return | (1.53%) | 0.09% | 26.40% | 6.07% | (4.83%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% | |
Gross operating expenses | 0.23% | 0.23% | 0.23% | 0.23% | 0.21% | |
Net investment income (loss) | 2.82% | 3.42% | 2.88% | 3.66% | 3.26% | |
Portfolio turnover rate | 7% | 2% | 5% | 31% 2 | 10% | |
Net assets, end of period (x 1,000,000) | $2,844 | $2,699 | $2,205 | $1,415 | $1,375 | |
Holdings by Category | Cost ($) | Value ($) | |
97.8% | Common Stock | 2,378,291,644 | 2,781,955,810 |
0.5% | Preferred Stock | 15,443,474 | 14,364,962 |
0.4% | Other Investment Company | 12,250,477 | 12,250,477 |
1.2% | Short-Term Investments | 32,604,445 | 32,604,445 |
99.9% | Total Investments | 2,438,590,040 | 2,841,175,694 |
0.1% | Other Assets and Liabilities, Net | 3,157,769 | |
100.0% | Net Assets | 2,844,333,463 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Common Stock 97.8% of net assets | |||||
Australia 6.2% | |||||
Australia & New Zealand Banking Group Ltd. | 618,955 | 0.4 | 11,970,769 | ||
Commonwealth Bank of Australia | 379,463 | 0.7 | 20,604,067 | ||
National Australia Bank Ltd. | 585,298 | 0.5 | 12,498,831 | ||
Westpac Banking Corp. | 685,727 | 0.5 | 15,273,888 | ||
Other Securities | 4.1 | 115,450,893 | |||
6.2 | 175,798,448 | ||||
Austria 0.2% | |||||
Other Securities | 0.2 | 4,791,333 | |||
Belgium 1.3% | |||||
Anheuser-Busch InBev N.V. | 179,808 | 0.7 | 21,455,518 | ||
Other Securities | 0.6 | 16,401,624 | |||
1.3 | 37,857,142 | ||||
Denmark 1.7% | |||||
Novo Nordisk A/S, Class B | 436,977 | 0.8 | 23,204,996 | ||
Other Securities | 0.9 | 24,466,910 | |||
1.7 | 47,671,906 | ||||
Finland 0.9% | |||||
Other Securities | 0.9 | 24,783,650 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
France 9.9% | |||||
BNP Paribas S.A. | 236,121 | 0.5 | 14,308,271 | ||
Sanofi | 262,431 | 0.9 | 26,472,942 | ||
Total S.A. | 481,485 | 0.8 | 23,284,046 | ||
Other Securities | 7.7 | 218,755,735 | |||
9.9 | 282,820,994 | ||||
Germany 8.5% | |||||
Allianz SE - Reg'd | 101,698 | 0.6 | 17,804,037 | ||
BASF SE | 205,226 | 0.6 | 16,812,899 | ||
Bayer AG - Reg'd | 184,438 | 0.9 | 24,592,116 | ||
Daimler AG - Reg'd | 214,576 | 0.6 | 18,606,685 | ||
Deutsche Telekom AG - Reg'd | 708,212 | 0.5 | 13,265,934 | ||
SAP SE | 219,158 | 0.6 | 17,277,334 | ||
Siemens AG - Reg'd | 176,926 | 0.6 | 17,771,179 | ||
Other Securities | 4.1 | 116,137,458 | |||
8.5 | 242,267,642 | ||||
Hong Kong 3.0% | |||||
AIA Group Ltd. | 2,700,400 | 0.6 | 15,833,335 | ||
Other Securities | 2.4 | 69,441,284 | |||
3.0 | 85,274,619 | ||||
Ireland 0.4% | |||||
Other Securities | 0.4 | 12,041,687 | |||
Israel 0.6% | |||||
Other Securities | 0.6 | 17,004,718 | |||
Italy 2.4% | |||||
Other Securities | 2.4 | 66,872,882 | |||
Japan 22.6% | |||||
Honda Motor Co., Ltd. | 362,839 | 0.4 | 12,002,872 | ||
Mitsubishi UFJ Financial Group, Inc. | 2,836,309 | 0.7 | 18,343,913 | ||
SoftBank Group Corp. | 214,200 | 0.4 | 12,001,178 | ||
Toyota Motor Corp. | 608,803 | 1.3 | 37,297,969 | ||
Other Securities | 19.8 | 561,927,905 | |||
22.6 | 641,573,837 | ||||
Netherlands 2.8% | |||||
ING Groep N.V. CVA | 863,791 | 0.4 | 12,571,503 | ||
Unilever N.V. CVA | 363,881 | 0.6 | 16,453,833 | ||
Other Securities | 1.8 | 50,166,383 | |||
2.8 | 79,191,719 | ||||
New Zealand 0.1% | |||||
Other Securities | 0.1 | 4,073,576 | |||
Norway 0.6% | |||||
Other Securities | 0.6 | 16,098,084 | |||
Portugal 0.1% | |||||
Other Securities | 0.1 | 4,112,409 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Singapore 1.3% | |||||
Other Securities | 1.3 | 36,239,515 | |||
Spain 3.4% | |||||
Banco Bilbao Vizcaya Argentaria S.A. | 1,420,594 | 0.4 | 12,222,237 | ||
Banco Santander S.A. | 3,197,315 | 0.6 | 17,860,836 | ||
Telefonica S.A. | 992,492 | 0.5 | 13,094,284 | ||
Other Securities | 1.9 | 52,739,545 | |||
3.4 | 95,916,902 | ||||
Sweden 2.8% | |||||
Other Securities | 2.8 | 80,088,107 | |||
Switzerland 9.2% | |||||
Nestle S.A. - Reg'd | 719,332 | 1.9 | 54,938,215 | ||
Novartis AG - Reg'd | 507,583 | 1.6 | 45,981,260 | ||
Roche Holding AG | 156,706 | 1.5 | 42,545,501 | ||
UBS Group AG - Reg’d | 815,237 | 0.6 | 16,282,261 | ||
Other Securities | 3.6 | 103,170,897 | |||
9.2 | 262,918,134 | ||||
United Kingdom 19.8% | |||||
AstraZeneca plc | 281,870 | 0.6 | 17,964,278 | ||
Barclays plc | 3,738,239 | 0.5 | 13,318,521 | ||
BG Group plc | 763,918 | 0.4 | 12,068,771 | ||
BP plc | 4,078,629 | 0.8 | 24,239,233 | ||
British American Tobacco plc | 416,025 | 0.9 | 24,715,858 | ||
BT Group plc | 1,866,458 | 0.5 | 13,329,330 | ||
Diageo plc | 562,011 | 0.6 | 16,202,737 | ||
GlaxoSmithKline plc | 1,085,292 | 0.8 | 23,405,087 | ||
HSBC Holdings plc | 4,354,714 | 1.2 | 34,023,230 | ||
Lloyds Banking Group plc | 12,728,817 | 0.5 | 14,447,337 | ||
National Grid plc | 835,111 | 0.4 | 11,896,053 | ||
Prudential plc | 573,911 | 0.5 | 13,404,539 | ||
Reckitt Benckiser Group plc | 143,178 | 0.5 | 13,972,806 | ||
Royal Dutch Shell plc, A Shares | 862,532 | 0.8 | 22,518,423 | ||
Royal Dutch Shell plc, B Shares | 538,661 | 0.5 | 14,104,777 | ||
SABMiller plc | 216,502 | 0.4 | 13,298,284 | ||
Unilever plc | 286,445 | 0.4 | 12,754,964 | ||
Vodafone Group plc | 5,916,316 | 0.7 | 19,470,195 | ||
Other Securities | 8.8 | 249,424,083 | |||
19.8 | 564,558,506 | ||||
Total Common Stock | |||||
(Cost $2,378,291,644) | 2,781,955,810 | ||||
Preferred Stock 0.5% of net assets | |||||
Germany 0.4% | |||||
Other Securities | 0.4 | 12,106,157 | |||
Ireland 0.0% | |||||
Other Securities | 0.0 | 14,460 | |||
Italy 0.1% | |||||
Other Securities | 0.1 | 2,185,383 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
United Kingdom 0.0% | |||||
Other Securities | 0.0 | 58,962 | |||
Total Preferred Stock | |||||
(Cost $15,443,474) | 14,364,962 | ||||
Other Investment Company 0.4% of net assets | |||||
United States 0.4% | |||||
Securities Lending Collateral 0.4% | |||||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (c) | 12,250,477 | 0.4 | 12,250,477 | ||
Total Other Investment Company | |||||
(Cost $12,250,477) | 12,250,477 | ||||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | ||
Short-Term Investments 1.2% of net assets | |||||
Time Deposits 1.2% | |||||
Nordea Bank 0.03%, 11/02/15 | 28,414,324 | 1.0 | 28,414,324 | ||
Other Securities | 0.2 | 4,190,121 | |||
1.2 | |||||
Total Short-Term Investments | |||||
(Cost $32,604,445) | 32,604,445 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $11,696,492. |
(b) | Illiquid security. At the period end, the value of these amounted to $0 or 0.0% of net assets. |
(c) | The rate shown is the 7-day yield. |
(d) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
SDR — | Swedish Depositary Receipt |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/18/15 | 400 | 35,142,000 | 266,130 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $— | $1,788,075,500 | $— | $1,788,075,500 | |||||
Australia | 923,799 | 173,361,097 | 1,513,552 | 175,798,448 | |||||
Hong Kong | 642,459 | 84,632,160 | — | 85,274,619 | |||||
Ireland | 646,957 | 11,394,730 | — | 12,041,687 | |||||
Japan | 1,539,770 | 640,034,067 | — | 641,573,837 | |||||
Netherlands | 30,892,232 | 48,299,487 | — | 79,191,719 | |||||
Preferred Stock1 | — | 14,291,540 | — | 14,291,540 | |||||
Ireland | — | — | 14,460 | 14,460 | |||||
United Kingdom | — | — | 58,962 | 58,962 | |||||
Other Investment Company1 | 12,250,477 | — | — | 12,250,477 | |||||
Short-Term Investments1 | — | 32,604,445 | — | 32,604,445 | |||||
Total | $46,895,694 | $2,792,693,026 | $1,586,974 | $2,841,175,694 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $266,130 | $— | $— | $266,130 |
1 | As categorized in the complete schedule of portfolio holdings. |
2 | Futures contracts are not included in Investments in the schedule of condensed portfolio holdings and are valued at unrealized appreciation or depreciation. |
Investments in Securities | Balance as of October 31, 2014 | Realized Gains (Losses) | Change in Unrealized Appreciation (Depreciation) | Gross Purchases | Gross Sales | Gross Transfers in | Gross Transfers out | Balance as of October 31, 2015 | ||||||||
Common Stock | ||||||||||||||||
Australia | $— | ($5,018) | ($184,871) | $1,075,438 | ($98,645) | $726,648 | $— | $1,513,552 | ||||||||
Preferred Stock | ||||||||||||||||
Ireland | — | — | (61) | 14,521 | — | — | — | 14,460 | ||||||||
United Kingdom | 54,362 | — | 174 | 58,972 | (54,546) | — | — | 58,962 | ||||||||
Total | $54,362 | ($5,018) | ($184,758) | $1,148,931 | ($153,191) | $726,648 | $— | $1,586,974 |
Assets | ||
Investments, at value (cost $2,426,339,563) including securities on loan of $11,696,492 | $2,828,925,217 | |
Collateral invested for securities on loan, at value (cost $12,250,477) | + | 12,250,477 |
Total investments, at value (cost $2,438,590,040) | 2,841,175,694 | |
Foreign currency, at value (cost $296) | 296 | |
Deposit with broker for futures contracts | 2,906,250 | |
Receivables: | ||
Dividends | 5,741,925 | |
Fund shares sold | 5,289,677 | |
Foreign tax reclaims | 3,088,379 | |
Income from securities on loan | 45,250 | |
Interest | 53 | |
Prepaid expenses | + | 37,397 |
Total assets | 2,858,284,921 | |
Liabilities | ||
Collateral held for securities on loan | 12,250,477 | |
Payables: | ||
Investments bought | 58,962 | |
Investment adviser and administrator fees | 55,301 | |
Shareholder service fees | 9,587 | |
Fund shares redeemed | 1,002,919 | |
Variation margin on futures contracts | 66,999 | |
Accrued expenses | + | 507,213 |
Total liabilities | 13,951,458 | |
Net Assets | ||
Total assets | 2,858,284,921 | |
Total liabilities | – | 13,951,458 |
Net assets | $2,844,333,463 | |
Net Assets by Source | ||
Capital received from investors | 2,473,378,730 | |
Net investment income not yet distributed | 53,167,370 | |
Net realized capital losses | (84,862,391) | |
Net unrealized capital appreciation | 402,649,754 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$2,844,333,463 | 153,799,932 | $18.49 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $7,152,128) | $81,417,874 | |
Interest | 21,435 | |
Securities on loan | + | 1,224,253 |
Total investment income | 82,663,562 | |
Expenses | ||
Investment adviser and administrator fees | 4,117,720 | |
Shareholder service fees | 522,015 | |
Custodian fees | 499,487 | |
Index fees | 492,230 | |
Portfolio accounting fees | 124,477 | |
Shareholder reports | 116,365 | |
Registration fees | 87,425 | |
Transfer agent fees | 66,500 | |
Professional fees | 58,059 | |
Proxy fees | 21,046 | |
Independent trustees' fees | 19,912 | |
Interest expense | 2,867 | |
Other expenses | + | 115,906 |
Total expenses | 6,244,009 | |
Expense reduction by CSIM and its affiliates | – | 1,004,356 |
Net expenses | – | 5,239,653 |
Net investment income | 77,423,909 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (55,422,925) | |
Net realized losses on futures contracts | (3,870,346) | |
Net realized losses on foreign currency transactions | + | (951,814) |
Net realized losses | (60,245,085) | |
Net change in unrealized appreciation (depreciation) on investments | (75,150,637) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (3,346,459) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 47,896 |
Net change in unrealized appreciation (depreciation) | + | (78,449,200) |
Net realized and unrealized losses | (138,694,285) | |
Decrease in net assets resulting from operations | ($61,270,376) |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $77,423,909 | $84,259,509 | |
Net realized gains (losses) | (60,245,085) | 4,104,131 | |
Net change in unrealized appreciation (depreciation) | + | (78,449,200) | (94,041,773) |
Decrease in net assets from operations | (61,270,376) | (5,678,133) | |
Distributions to Shareholders | |||
Distributions from net investment income | ($87,032,492) | ($56,954,638) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 59,133,426 | $1,111,348,958 | 42,892,587 | $850,934,554 | |
Shares reinvested | 4,061,536 | 72,539,032 | 2,686,474 | 50,828,092 | |
Shares redeemed | + | (48,379,691) | (890,397,689) | (17,254,418) | (344,646,661) |
Net transactions in fund shares | 14,815,271 | $293,490,301 | 28,324,643 | $557,115,985 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 138,984,661 | $2,699,146,030 | 110,660,018 | $2,204,662,816 | |
Total increase | + | 14,815,271 | 145,187,433 | 28,324,643 | 494,483,214 |
End of period | 153,799,932 | $2,844,333,463 | 138,984,661 | $2,699,146,030 | |
Net investment income not yet distributed | $53,167,370 | $62,675,606 |
Schwab Capital Trust (organized May 7, 1993) | Schwab Target 2035 Fund |
Schwab S&P 500 Index Fund | Schwab Target 2040 Fund |
Schwab Small-Cap Index Fund | Schwab Target 2045 Fund |
Schwab Total Stock Market Index Fund | Schwab Target 2050 Fund |
Schwab International Index Fund | Schwab Target 2055 Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Fundamental US Large Company Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Fundamental US Small Company Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Fundamental International Large Company Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Fundamental International Small Company Index Fund |
Laudus Small-Cap MarketMasters Fund™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Laudus International MarketMasters Fund™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab Balanced Fund™ | Schwab ® Monthly Income Fund – Moderate Payout |
Schwab Core Equity Fund™ | Schwab ® Monthly Income Fund – Enhanced Payout |
Schwab Dividend Equity Fund™ | Schwab ® Monthly Income Fund – Maximum Payout |
Schwab Large-Cap Growth Fund™ | |
Schwab Small-Cap Equity Fund™ | Schwab Investments (organized October 26, 1990) |
Schwab Hedged Equity Fund™ | Schwab 1000 Index Fund |
Schwab Financial Services Fund™ | Schwab Short-Term Bond Market Fund™ |
Schwab Health Care Fund™ | Schwab Intermediate-Term Bond Fund™ |
Schwab ® International Core Equity Fund | Schwab Total Bond Market Fund™ |
Schwab Target 2010 Fund | Schwab GNMA Fund™ |
Schwab Target 2015 Fund | Schwab ® Treasury Inflation Protected Securities Index Fund |
Schwab Target 2020 Fund | Schwab Tax-Free Bond Fund™ |
Schwab Target 2025 Fund | Schwab California Tax-Free Bond Fund™ |
Schwab Target 2030 Fund | Schwab Global Real Estate Fund™ |
% of Average Daily Net Assets | Schwab 1000 Index Fund | |
First $500 million | 0.30% | |
$500 million to $5 billion | 0.22% | |
$5 billion to $10 billion | 0.20% | |
Over $10 billion | 0.18% |
Schwab S&P 500 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |||
0.06% | 0.15% | 0.06% | 0.15% |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | ||||
0.02% | 0.10% | 0.02% | 0.02% | 0.02% |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | ||||
0.09% | 0.29% | 0.17% | 0.09% | 0.19% |
Fund | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Dividends Received 11/01/14 to 10/31/15 | |||||||
Schwab S&P 500 Index Fund | 1,302,581 | 99,900 | — | 1,402,481 | $42,803,720 | $— | $316,939 | |||||||
Schwab 1000 Index Fund | 367,065 | 19,000 | (10,800) | 375,265 | 11,453,088 | 197,850 | 86,800 | |||||||
Schwab Total Stock Market Index Fund | 211,426 | 28,700 | — | 240,126 | 7,328,646 | — | 52,290 |
Underlying Funds | |||||||||
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |||||
Schwab MarketTrack All Equity Portfolio | 0.9% | —% | 3.8% | —% | 2.8% | ||||
Schwab MarketTrack Growth Portfolio | 0.9% | —% | 3.9% | —% | 2.4% | ||||
Schwab MarketTrack Balanced Portfolio | 0.5% | —% | 2.1% | —% | 1.3% | ||||
Schwab MarketTrack Conservative Portfolio | 0.1% | —% | 0.6% | —% | 0.4% | ||||
Schwab MarketTrack Growth Portfolio II | 0.0%* | 0.0%* | 0.2% | —% | 0.2% | ||||
Schwab Target 2010 Fund | 0.0%* | —% | —% | —% | —% | ||||
Schwab Target 2015 Fund | 0.0%* | —% | —% | —% | —% | ||||
Schwab Target 2020 Fund | 0.2% | —% | —% | —% | —% | ||||
Schwab Target 2025 Fund | 0.2% | —% | —% | —% | —% | ||||
Schwab Target 2030 Fund | 0.4% | —% | —% | —% | —% | ||||
Schwab Target 2035 Fund | 0.2% | —% | —% | —% | —% | ||||
Schwab Target 2040 Fund | 0.4% | —% | —% | —% | —% | ||||
Schwab Target 2045 Fund | 0.0%* | —% | —% | —% | —% | ||||
Schwab Target 2050 Fund | 0.0%* | —% | —% | —% | —% | ||||
Schwab Target 2055 Fund | 0.0%* | —% | —% | —% | —% |
* | Less than 0.05% |
Schwab S&P 500 Index Fund | $25,289,140 |
Schwab 1000 Index Fund | 15,442,624 |
Schwab Small-Cap Index Fund | 6,586,610 |
Schwab Total Stock Market Index Fund | 11,119,112 |
Schwab International Index Fund | 53,288,040 |
Contract Values | Number of Contracts | ||
Schwab S&P 500 Index Fund | $193,895,942 | 1,891 | |
Schwab 1000 Index Fund | 27,125,073 | 267 | |
Schwab Small-Cap Index Fund | 25,802,248 | 217 | |
Schwab Total Stock Market Index Fund | 47,209,196 | 451 | |
Schwab International Index Fund | 61,572,329 | 685 |
Purchases of Securities | Sales/Maturities of Securities | ||
Schwab S&P 500 Index Fund | $1,540,712,705 | $503,963,362 | |
Schwab 1000 Index Fund | 242,550,205 | 384,176,671 | |
Schwab Small-Cap Index Fund | 572,961,402 | 430,472,320 | |
Schwab Total Stock Market Index Fund | 498,718,515 | 98,055,163 | |
Schwab International Index Fund | 550,647,598 | 199,465,116 |
Current Period (11/1/14-10/31/15) | Prior Period (11/1/13-10/31/14) | ||
Schwab S&P 500 Index Fund | $266,905 | $284,628 | |
Schwab 1000 Index Fund | 44,069 | 27,406 | |
Schwab Small-Cap Index Fund | 34,586 | 29,424 | |
Schwab Total Stock Market Index Fund | 50,564 | 75,062 | |
Schwab International Index Fund | 27,617 | 24,510 |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |||||
Undistributed ordinary income | $357,061,921 | $92,556,905 | $37,022,765 | $67,894,710 | $70,180,852 | ||||
Undistributed long-term capital gains | 213,548,277 | 264,432,988 | 123,561,081 | 35,883,867 | — | ||||
Unrealized appreciation on investments | 9,712,924,583 | 4,556,700,963 | 844,629,291 | 1,756,538,810 | 585,873,657 | ||||
Unrealized depreciation on investments | (605,355,519) | (83,340,030) | (261,044,293) | (138,422,899) | (209,815,576) | ||||
Other unrealized appreciation (depreciation) | — | 1 | — | — | (202,030) | ||||
Net unrealized appreciation (depreciation) | $9,107,569,064 | $4,473,360,934 | $583,584,998 | $1,618,115,911 | $375,856,051 |
Expiration Date | Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |||||
October 31, 2017 | $— | $— | $— | $— | $13,252,761 | |||||
No expiration* | — | — | — | — | 61,829,409 | |||||
Total | $— | $— | $— | $— | $75,082,170 |
* | As a result of the passage of the Regulated Investment Company Modernization Act of 2010, capital losses incurred after December 31, 2010 may now be carried forward indefinitely, but must retain the character of the original loss. |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |||||
Capital loss carryforwards utilized | $187,573,938 | $— | $— | $— | $— |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |||||
Current period distributions | |||||||||
Ordinary income | $369,772,138 | $110,332,491 | $41,501,610 | $75,210,034 | $87,032,492 | ||||
Long-term capital gains | — | 171,945,895 | 130,862,912 | 16,307,399 | — | ||||
Return of capital | — | — | — | — | — | ||||
Prior period distributions | |||||||||
Ordinary income | $297,103,536 | $92,284,725 | $38,782,759 | $50,259,453 | $56,954,638 | ||||
Long-term capital gains | — | 181,138,882 | 97,746,901 | 14,517,862 | — | ||||
Return of capital | — | — | — | — | — |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |||||
Capital shares | $— | $— | ($18) | ($2) | $— | ||||
Undistributed net investment income | (3,411,365) | (1,557,720) | (540,920) | (153,400) | 100,347 | ||||
Net realized capital gains (losses) | 3,411,365 | 1,557,720 | 540,938 | 153,402 | (100,347) |
Schwab S&P 500 Index Fund
Schwab 1000 Index Fund
Schwab Small-Cap Index Fund
Schwab Total Stock Market Index Fund
Schwab International Index Fund
San Francisco, California
December 16, 2015
Percentage | |
Schwab S&P 500 Index Fund | 97.17 |
Schwab 1000 Index Fund | 100.00 |
Schwab Small-Cap Index Fund | 50.23 |
Schwab Total Stock Market Index Fund | 85.33 |
Schwab International Index Fund | — |
Schwab S&P 500 Index Fund | $369,772,138 |
Schwab 1000 Index Fund | 110,332,491 |
Schwab Small-Cap Index Fund | 22,237,809 |
Schwab Total Stock Market Index Fund | 67,348,891 |
Schwab International Index Fund | 73,293,934 |
Schwab S&P 500 Index Fund | $— |
Schwab 1000 Index Fund | 171,945,895 |
Schwab Small-Cap Index Fund | 130,862,912 |
Schwab Total Stock Market Index Fund | 16,307,399 |
Schwab International Index Fund | — |
The Investment Company Act of 1940 (the 1940 Act) requires that initial approval of, as well as the continuation of, a fund’s investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or “interested persons” of any party (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund’s trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.
1. | the nature, extent and quality of the services provided to the Funds under the Agreements, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreements reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 74 | Director, Gilead Sciences, Inc. (2005 – present) |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Private Investor. | 74 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013) | 74 | Director, KLA-Tencor Corporation (2008 – present) |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 95 | None |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 74 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 74 | Board Member and Chairman of the Audit Committee, Isis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Charles R. Schwab2 1937 Chairman and Trustee (Chairman and Trustee of The Charles Schwab Family of Funds since 1989; Schwab Investments since 1991; Schwab Capital Trust since 1993; Schwab Annuity Portfolios since 1994; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman and Director, The Charles Schwab Corporation (1986 – present); Chairman and Director of Charles Schwab & Co., Inc. (1971 – present); Chairman and Director of Charles Schwab Investment Management, Inc. (1989 – present); Chairman and Director of Charles Schwab Bank (2003 – present); Chairman and Chief Executive Officer of Schwab (SIS) Holdings Inc. I and Schwab International Holdings, Inc. (1996 – present); and Director, Chairman and Chief Executive Officer, Schwab Holdings, Inc. (1979 – present). | 74 | Chairman and Director, The Charles Schwab Corporation (1986 – present) Director, Yahoo! Inc. (2014 – present) |
Walter W. Bettinger II2 1960 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (2008 – present); Director, Charles Schwab Bank (2006 – present); and Director, Schwab Holdings, Inc. (2008 – present). | 95 | Director, The Charles Schwab Corporation (2008 – present) |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
George Pereira 1964 Treasurer and Principal Financial Officer, Schwab Funds Treasurer and Chief Financial Officer, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust and Laudus Institutional Trust since 2006) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – present); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – present) and Schwab ETFs (Oct. 2009 – present); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (April 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – April 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (April 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (April 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (April 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2005) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Trustees remain in office until they resign, retire or are removed by shareholder vote. The Schwab and Laudus Funds’ retirement policy requires that independent trustees retire at age 72 or after twenty years as a trustee, whichever comes first. In addition, the retirement policy requires any independent trustee of Schwab Funds or Laudus Funds to retire from all Boards upon their required retirement date from either Board. |
2 | Mr. Schwab and Mr. Bettinger are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Boards. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Schwab Dividend Equity Fund™
Schwab Large-Cap Growth Fund™
Schwab Small-Cap Equity Fund™
Schwab Hedged Equity Fund™
Schwab Financial Services Fund™
Schwab Health Care Fund™
Schwab® International Core Equity Fund
Schwab Fundamental US Large Company Index Fund
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Schwab Global Real Estate Fund™
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Schwab Small-Cap Index Fund®
Schwab Total Stock Market Index Fund®
Schwab International Index Fund®
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Schwab Target 2010 Fund
Schwab Target 2015 Fund
Schwab Target 2020 Fund
Schwab Target 2025 Fund
Schwab Target 2030 Fund
Schwab Target 2035 Fund
Schwab Target 2040 Fund
Schwab Target 2045 Fund
Schwab Target 2050 Fund
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1 | Investments in money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency and, although they seek to preserve the value of your investment at $1 per share, it is possible to lose money. |
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Table of Contents
Equity Fund
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Equity Fund
2 | |
3 | |
5 | |
Performance and Fund Facts | |
6 | |
8 | |
10 | |
12 | |
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18 | |
20 | |
22 | |
Financial Statements and Portfolio Holdings | |
23 | |
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37 | |
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68 | |
75 | |
85 | |
99 | |
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101 | |
103 | |
106 |
Total Return for the 12 Months Ended October 31, 2015 | |
Schwab Core Equity Fund (Ticker Symbol: SWANX) | 5.61% |
S&P 500® Index | 5.20% |
Fund Category: Morningstar Large Blend | 2.79% |
Performance Details | pages 6-7 |
Schwab Dividend Equity Fund (Ticker Symbol: SWDSX) | 0.12% |
Russell 1000 Value Index | 0.53% |
Fund Category: Morningstar Large Value | 0.37% |
Performance Details | pages 8-9 |
Schwab Large-Cap Growth Fund (Ticker Symbol: SWLSX) | 7.00% |
Russell 1000 Growth Index | 9.18% |
Fund Category: Morningstar Large Growth | 6.59% |
Performance Details | pages 10-11 |
Schwab Small-Cap Equity Fund (Ticker Symbol: SWSCX) | 3.01% |
Russell 2000® Index | 0.34% |
Fund Category: Morningstar Small Blend | -0.45% |
Performance Details | pages 12-13 |
Schwab Hedged Equity Fund (Ticker Symbol: SWHEX) | 4.84% |
S&P 500® Index | 5.20% |
Fund Category: Morningstar Long/Short Equity | -0.14% |
Performance Details | pages 14-15 |
Total Return for the 12 Months Ended October 31, 2015 | |
Schwab Financial Services Fund (Ticker Symbol: SWFFX) | 2.70% |
S&P 1500 SuperComposite Financial Sector Index | 3.62% |
Fund Category: Morningstar Financial | 1.59% |
Performance Details | pages 16-17 |
Schwab Health Care Fund1 (Ticker Symbol: SWHFX) | 7.26% |
Dow Jones Global Health Care Index | 6.57% |
Fund Category: Morningstar Health | 8.77% |
Performance Details | pages 18-19 |
Schwab International Core Equity Fund1 (Ticker Symbol: SICNX) | 2.05% |
MSCI EAFE® Index (Net)2 | -0.07% |
Fund Category: Morningstar Foreign Large Blend | -1.58% |
Performance Details | pages 20-21 |
Minimum Initial Investment3 | $100 |
1 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
2 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
3 | Please see the funds' prospectus for further detail and eligibility requirements. |
1 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Jonas Svallin, CFA Vice President and Head of Active Equity Products, has overall responsibility for all aspects of the management of the funds and leads the Active Equity portfolio management and research team. Prior to joining CSIM in 2012, Mr. Svallin spent nearly three years as a partner and a director of quantitative analytics and research at Fiduciary Research & Consulting, where he provided oversight of quantitative analytics and risk management efforts. From 2003 until 2009, Mr. Svallin was a principal and head portfolio manager at Algert Global (formerly, Algert Coldiron Investors). Prior to joining Algert Global, Mr. Svallin worked as a quantitative research associate at RCM Capital Management and a senior consultant at FactSet Research Systems. |
Wei Li, Ph.D., CFA Managing Director and Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining CSIM in 2012, Ms. Li spent more than ten years at BlackRock, Inc. (formerly Barclays Global Investors), where she held a number of positions. From 2001 to 2009, she worked in various roles in the Global Advanced Active group, including portfolio management and quantitative research for both U.S. and international equity markets. After 2009, she worked in the defined contribution research and product development area for almost two years. |
Iain Clayton, CFA, FRM, Managing Director and Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Core Equity Fund, Schwab International Core Equity Fund and Schwab Health Care Fund. Prior to joining CSIM in 2013, Mr. Clayton spent more than five years at SSI Investment Management, where he was a portfolio manager and director of quantitative research. In these roles, Mr. Clayton co-managed multiple investment strategies and developed quantitative models and valuation approaches. From 2004 to 2008, he worked as a portfolio manager and director at Allianz Global Investors (formerly RCM Capital Management) and helped manage various equity portfolios and developed fundamental-based stock selection models. Prior to that, he was a vice president at Eureka Investment Advisors for almost three years and also served as a senior quantitative analyst/assistant portfolio manager. He has also worked as a quantitative research analyst at Allianz Global Investors. |
Statistics | |
Number of Holdings | 117 |
Weighted Average Market Cap (millions) | $113,328 |
Price/Earnings Ratio (P/E) | 19.3 |
Price/Book Ratio (P/B) | 2.6 |
Portfolio Turnover Rate | 81% |
Sector Weightings % of Investments | |
Information Technology | 18.6% |
Financials | 16.6% |
Health Care | 15.1% |
Consumer Discretionary | 13.4% |
Industrials | 11.2% |
Consumer Staples | 10.3% |
Energy | 7.0% |
Utilities | 3.5% |
Materials | 1.8% |
Telecommunication Services | 1.8% |
Other | 0.7% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Apple, Inc. | 6.0% |
Citigroup, Inc. | 3.0% |
Amgen, Inc. | 2.9% |
PepsiCo, Inc. | 2.7% |
Lowe's Cos., Inc. | 2.6% |
Stanley Black & Decker, Inc. | 2.3% |
Computer Sciences Corp. | 2.2% |
Pfizer, Inc. | 2.2% |
Comcast Corp., Class A | 2.2% |
Gilead Sciences, Inc. | 2.0% |
Total | 28.1% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Core Equity Fund (7/1/96) | 5.61% | 13.96% | 7.45% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Fund Category: Morningstar Large Blend | 2.79% | 12.51% | 6.99% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On May 21, 2009 and September 7, 2012, respectively, the Laudus U.S. MarketMasters Fund and the Schwab Premier Equity Fund merged into the fund. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 121 |
Weighted Average Market Cap (millions) | $89,714 |
Price/Earnings Ratio (P/E) | 20.2 |
Price/Book Ratio (P/B) | 1.9 |
Portfolio Turnover Rate | 73% |
Sector Weightings % of Investments | |
Financials | 27.0% |
Energy | 13.5% |
Information Technology | 11.5% |
Industrials | 10.9% |
Health Care | 10.9% |
Consumer Discretionary | 8.2% |
Utilities | 6.9% |
Consumer Staples | 6.7% |
Materials | 2.9% |
Telecommunication Services | 1.1% |
Other | 0.4% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
JPMorgan Chase & Co. | 4.3% |
Pfizer, Inc. | 3.5% |
Citigroup, Inc. | 3.3% |
Valero Energy Corp. | 2.4% |
Stanley Black & Decker, Inc. | 2.2% |
Computer Sciences Corp. | 2.2% |
MetLife, Inc. | 2.1% |
Exxon Mobil Corp. | 2.1% |
Apple, Inc. | 2.1% |
Reinsurance Group of America, Inc. | 2.1% |
Total | 26.3% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Dividend Equity Fund (9/2/03) | 0.12% | 12.80% | 7.12% |
Russell 1000 Value Index | 0.53% | 13.26% | 6.75% |
Dividend Equity Spliced Index | 2.21% | 13.67% | 7.54% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Fund Category: Morningstar Large Value | 0.37% | 11.70% | 6.24% |
30-Day SEC Yield | 1.60% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 7, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 7, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 102 |
Weighted Average Market Cap (millions) | $133,560 |
Price/Earnings Ratio (P/E) | 18.8 |
Price/Book Ratio (P/B) | 3.4 |
Portfolio Turnover Rate | 90% |
Sector Weightings % of Investments | |
Information Technology | 27.6% |
Consumer Discretionary | 18.7% |
Health Care | 17.8% |
Industrials | 12.4% |
Consumer Staples | 9.2% |
Financials | 7.2% |
Energy | 2.7% |
Materials | 2.0% |
Utilities | 1.0% |
Telecommunication Services | 0.7% |
Other | 0.7% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Apple, Inc. | 8.7% |
Alphabet, Inc., Class A | 3.6% |
Gilead Sciences, Inc. | 3.3% |
Amgen, Inc. | 3.1% |
Comcast Corp., Class A | 3.0% |
Lowe's Cos., Inc. | 2.7% |
PepsiCo, Inc. | 2.6% |
Delta Air Lines, Inc. | 2.4% |
Huntington Ingalls Industries, Inc. | 2.4% |
Amazon.com, Inc. | 2.3% |
Total | 34.1% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Large-Cap Growth Fund (10/3/05) | 7.00% | 14.02% | 7.78% |
Russell 1000 Growth Index | 9.18% | 15.30% | 9.09% |
Fund Category: Morningstar Large Growth | 6.59% | 13.36% | 7.92% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 7, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 7, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 316 |
Weighted Average Market Cap (millions) | $1,507 |
Price/Earnings Ratio (P/E) | 33.5 |
Price/Book Ratio (P/B) | 1.9 |
Portfolio Turnover Rate | 95% |
Sector Weightings % of Investments | |
Financials | 22.7% |
Information Technology | 17.7% |
Health Care | 15.6% |
Industrials | 14.2% |
Consumer Discretionary | 13.3% |
Consumer Staples | 5.4% |
Energy | 2.2% |
Materials | 1.9% |
Telecommunication Services | 1.1% |
Utilities | 1.1% |
Other | 4.8% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
First Industrial Realty Trust, Inc. | 1.4% |
CoreSite Realty Corp. | 1.3% |
Dean Foods Co. | 1.3% |
Empire State Realty Trust, Inc., Class A | 1.2% |
Hawaiian Holdings, Inc. | 1.2% |
Tenneco, Inc. | 1.2% |
American Axle & Manufacturing Holdings, Inc. | 1.2% |
Emergent Biosolutions, Inc. | 1.2% |
Wabash National Corp. | 1.2% |
Prestige Brands Holdings, Inc. | 1.1% |
Total | 12.3% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Small-Cap Equity Fund (7/1/03) | 3.01% | 15.57% | 7.24% |
Russell 2000® Index | 0.34% | 12.06% | 7.47% |
Fund Category: Morningstar Small Blend | -0.45% | 11.37% | 7.04% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 28, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to September 28, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | |
Long Holdings | 125 |
Short Holdings | 68 |
Weighted Average Market Cap (millions) | |
Long Holdings | $64,996 |
Short Holdings | $9,857 |
Price/Earnings Ratio (P/E) | |
Long Holdings | 20.1 |
Short Holdings | 120.2 |
Price/Book Ratio (P/B) | |
Long Holdings | 2.1 |
Short Holdings | 2.9 |
Portfolio Turnover Rate | 146% |
Portfolio Turnover Rate excluding short sales | 103% |
Top Equity Long Holdings % of Net Assets1 | |
Apple, Inc. | 4.2% |
Amazon.com, Inc. | 2.9% |
Citigroup, Inc. | 2.6% |
Valero Energy Corp. | 2.1% |
Amgen, Inc. | 2.0% |
Total | 13.8% |
Top Equity Short Holdings % of Net Assets1 | |
Louisiana-Pacific Corp. | 1.4% |
Diamondback Energy, Inc. | 1.3% |
Under Armour, Inc., Class A | 1.3% |
Ulta Salon, Cosmetics & Fragrance, Inc. | 1.2% |
SunPower Corp. | 1.2% |
Total | 6.4% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Hedged Equity Fund (9/3/02) | 4.84% | 7.95% | 4.52% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Fund Category: Morningstar Long/Short Equity | -0.14% | 5.78% | 4.93% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 28, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to September 28, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 74 |
Weighted Average Market Cap (millions) | $81,362 |
Price/Earnings Ratio (P/E) | 13.1 |
Price/Book Ratio (P/B) | 1.2 |
Portfolio Turnover Rate | 53% |
Industry Weightings % of Investments | |
Diversified Financials | 37.8% |
Real Estate | 22.1% |
Insurance | 20.4% |
Banks | 18.7% |
Other | 1.0% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Wells Fargo & Co. | 5.8% |
JPMorgan Chase & Co. | 5.7% |
Berkshire Hathaway, Inc., Class B | 5.5% |
Bank of America Corp. | 5.3% |
Citigroup, Inc. | 5.1% |
Simon Property Group, Inc. | 4.1% |
MetLife, Inc. | 3.8% |
Reinsurance Group of America, Inc. | 2.5% |
Equity LifeStyle Properties, Inc. | 2.3% |
The PNC Financial Services Group, Inc. | 2.2% |
Total | 42.3% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Financial Services Fund (7/3/00) | 2.70% | 11.36% | 2.61% |
S&P 1500 SuperComposite Financial Sector Index | 3.62% | 12.70% | 0.52% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Fund Category: Morningstar Financial | 1.59% | 10.36% | 2.47% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 90 |
Weighted Average Market Cap (millions) | $85,546 |
Price/Earnings Ratio (P/E) | 24.0 |
Price/Book Ratio (P/B) | 4.3 |
Portfolio Turnover Rate | 75% |
Industry Weightings % of Investments | |
Pharmaceuticals, Biotechnology & Life Sciences | 72.0% |
Healthcare – Services | 22.4% |
Materials | 2.5% |
Technology Hardware & Equipment | 1.6% |
Household & Personal Products | 0.9% |
Software & Services | 0.2% |
Other Investment Company | 0.1% |
Other | 0.3% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Gilead Sciences, Inc. | 7.3% |
Amgen, Inc. | 6.2% |
Johnson & Johnson | 5.7% |
Pfizer, Inc. | 5.2% |
Celgene Corp. | 5.0% |
Novo Nordisk A/S, Class B | 3.5% |
Shire plc | 2.7% |
Express Scripts Holding Co. | 2.7% |
Charles River Laboratories International, Inc. | 2.7% |
Merck & Co., Inc. | 2.7% |
Total | 43.7% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Health Care Fund (7/3/00) | 7.26% | 20.16% | 11.08% |
Dow Jones Global Health Care Index | 6.57% | 17.28% | 10.19% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Fund Category: Morningstar Health | 8.77% | 21.41% | 12.19% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 195 |
Weighted Average Market Cap (millions) | $46,399 |
Price/Earnings Ratio (P/E) | 15.3 |
Price/Book Ratio (P/B) | 1.8 |
Portfolio Turnover Rate | 87% |
Sector Weightings % of Investments | |
Financials | 24.2% |
Consumer Discretionary | 14.7% |
Consumer Staples | 12.6% |
Industrials | 11.8% |
Health Care | 11.6% |
Energy | 6.5% |
Information Technology | 6.3% |
Materials | 5.5% |
Telecommunication Services | 3.9% |
Utilities | 2.3% |
Other | 0.6% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Sanofi | 2.8% |
Royal Dutch Shell plc, B Shares | 2.4% |
Imperial Tobacco Group plc | 2.4% |
Nestle S.A. – Reg'd | 2.4% |
ProSiebenSat.1 Media SE | 2.0% |
Australia & New Zealand Banking Group Ltd. | 2.0% |
Allianz SE – Reg'd | 1.9% |
Resona Holdings, Inc. | 1.7% |
Unilever N.V. CVA | 1.6% |
Unilever plc | 1.5% |
Total | 20.7% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab International Core Equity Fund (5/30/08) | 2.05% | 7.31% | 1.95% |
MSCI EAFE® Index (Net)4 | -0.07% | 4.81% | 0.33% |
MSCI EAFE® Index (Gross) | 0.37% | 5.28% | 0.78% |
Fund Category: Morningstar Foreign Large Blend | -1.58% | 3.81% | -0.06% |
Japan | 21.3% |
United Kingdom | 18.7% |
France | 11.0% |
Switzerland | 9.1% |
Germany | 7.2% |
Australia | 5.1% |
Netherlands | 4.0% |
Hong Kong | 3.5% |
Denmark | 3.3% |
Other Countries | 16.8% |
Total | 100.0% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 7, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 7, 2009 is that of the fund’s former Institutional Shares. On December 3, 2009, the Laudus Rosenberg International Equity Fund merged into the fund. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
5 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio1 (Annualized) | Beginning Account Value at 5/1/15 | Ending Account Value (Net of Expenses) at 10/31/15 | Expenses Paid During Period2 5/1/15–10/31/15 | |
Schwab Core Equity Fund | ||||
Actual Return | 0.74% | $1,000.00 | $ 1,007.90 | $ 3.75 |
Hypothetical 5% Return | 0.74% | $1,000.00 | $ 1,021.47 | $ 3.77 |
Schwab Dividend Equity Fund | ||||
Actual Return | 0.88% | $1,000.00 | $ 969.70 | $ 4.37 |
Hypothetical 5% Return | 0.88% | $1,000.00 | $ 1,020.76 | $4.48 |
Schwab Large-Cap Growth Fund | ||||
Actual Return | 1.00% | $1,000.00 | $ 1,005.10 | $ 5.05 |
Hypothetical 5% Return | 1.00% | $1,000.00 | $ 1,020.16 | $5.09 |
Schwab Small-Cap Equity Fund | ||||
Actual Return | 1.09% | $1,000.00 | $ 980.60 | $ 5.44 |
Hypothetical 5% Return | 1.09% | $1,000.00 | $ 1,019.71 | $ 5.55 |
Schwab Hedged Equity Fund | ||||
Actual Return | 1.80% | $1,000.00 | $ 1,021.10 | $ 9.17 |
Hypothetical 5% Return | 1.80% | $1,000.00 | $ 1,016.13 | $ 9.15 |
Schwab Financial Services Fund | ||||
Actual Return | 0.90% | $1,000.00 | $ 1,001.20 | $ 4.54 |
Hypothetical 5% Return | 0.90% | $1,000.00 | $1,020.66 | $ 4.58 |
Schwab Health Care Fund | ||||
Actual Return | 0.79% | $1,000.00 | $ 986.30 | $3.96 |
Hypothetical 5% Return | 0.79% | $1,000.00 | $ 1,021.22 | $ 4.02 |
Schwab International Core Equity Fund | ||||
Actual Return | 0.86% | $1,000.00 | $ 953.40 | $ 4.23 |
Hypothetical 5% Return | 0.86% | $1,000.00 | $1,020.86 | $4.38 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12-month period. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 365 days of the fiscal year. |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $25.48 | $23.46 | $18.80 | $16.81 | $15.78 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.30 1 | 0.30 | 0.32 | 0.26 | 0.19 | |
Net realized and unrealized gains (losses) | 1.05 | 3.60 | 4.51 | 2.07 | 1.01 | |
Total from investment operations | 1.35 | 3.90 | 4.83 | 2.33 | 1.20 | |
Less distributions: | ||||||
Distributions from net investment income | (0.33) | (0.22) | (0.17) | (0.34) | (0.17) | |
Distributions from net realized gains | (3.40) | (1.66) | — | — | — | |
Total distributions | (3.73) | (1.88) | (0.17) | (0.34) | (0.17) | |
Net asset value at end of period | $23.10 | $25.48 | $23.46 | $18.80 | $16.81 | |
Total return | 5.61% | 17.88% | 25.89% | 13.99% | 7.60% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.74% | 0.72% | 0.72% | 0.72% | 0.73% | |
Gross operating expenses | 0.74% | 0.72% | 0.73% | 0.73% | 0.73% | |
Net investment income (loss) | 1.29% | 1.19% | 1.51% | 1.37% | 1.06% | |
Portfolio turnover rate | 81% | 63% | 80% | 45% 2 | 35% | |
Net assets, end of period (x 1,000,000) | $2,363 | $2,317 | $2,247 | $1,880 | $1,719 | |
Holdings by Category | Cost ($) | Value ($) | |
99.3% | Common Stock | 2,061,357,618 | 2,345,796,296 |
0.7% | Other Investment Companies | 18,010,632 | 18,010,632 |
100.0% | Total Investments | 2,079,368,250 | 2,363,806,928 |
(0.0%) | Other Assets and Liabilities, Net | (929,907) | |
100.0% | Net Assets | 2,362,877,021 |
Security | Number of Shares | Value ($) |
Common Stock 99.3% of net assets | ||
Automobiles & Components 2.3% | ||
Delphi Automotive plc | 200,376 | 16,669,279 |
Lear Corp. | 301,565 | 37,713,719 |
54,382,998 | ||
Banks 6.3% | ||
Bank of America Corp. | 356,363 | 5,979,771 |
Citigroup, Inc. | 1,331,403 | 70,790,697 |
Fifth Third Bancorp | 241,274 | 4,596,270 |
JPMorgan Chase & Co. | 499,014 | 32,061,649 |
MGIC Investment Corp. * | 699,480 | 6,575,112 |
Radian Group, Inc. | 2,000,029 | 28,940,420 |
148,943,919 | ||
Capital Goods 6.5% | ||
Allison Transmission Holdings, Inc. | 255,468 | 7,331,932 |
General Dynamics Corp. | 126,207 | 18,751,836 |
Huntington Ingalls Industries, Inc. | 250,141 | 30,001,911 |
Owens Corning | 52,859 | 2,406,670 |
Spirit AeroSystems Holdings, Inc., Class A * | 787,862 | 41,551,842 |
Stanley Black & Decker, Inc. | 504,822 | 53,501,036 |
153,545,227 | ||
Commercial & Professional Supplies 1.0% | ||
R.R. Donnelley & Sons Co. | 1,436,729 | 24,237,618 |
Security | Number of Shares | Value ($) |
Consumer Durables & Apparel 0.6% | ||
NIKE, Inc., Class B | 58,246 | 7,631,973 |
Wolverine World Wide, Inc. | 321,421 | 5,968,788 |
13,600,761 | ||
Consumer Services 1.4% | ||
Darden Restaurants, Inc. | 385,840 | 23,879,638 |
Vail Resorts, Inc. | 89,849 | 10,258,060 |
34,137,698 | ||
Diversified Financials 3.3% | ||
Affiliated Managers Group, Inc. * | 38,132 | 6,873,674 |
Lazard Ltd., Class A | 563,967 | 26,122,952 |
Voya Financial, Inc. | 1,128,409 | 45,779,553 |
78,776,179 | ||
Energy 7.0% | ||
ConocoPhillips | 338,883 | 18,079,408 |
CVR Energy, Inc. | 272,268 | 12,105,035 |
Devon Energy Corp. | 379,988 | 15,932,897 |
Exxon Mobil Corp. | 106,252 | 8,791,291 |
Marathon Petroleum Corp. | 829,766 | 42,981,879 |
Superior Energy Services, Inc. | 276,808 | 3,919,601 |
Tesoro Corp. | 70,508 | 7,539,420 |
Transocean Ltd. (a) | 218,481 | 3,458,554 |
Valero Energy Corp. | 603,568 | 39,787,203 |
Western Refining, Inc. | 300,153 | 12,492,368 |
165,087,656 | ||
Food & Staples Retailing 2.9% | ||
Costco Wholesale Corp. | 128,019 | 20,242,364 |
The Kroger Co. | 1,099,807 | 41,572,705 |
Wal-Mart Stores, Inc. | 135,055 | 7,730,548 |
69,545,617 | ||
Food, Beverage & Tobacco 5.8% | ||
Archer-Daniels-Midland Co. | 654,960 | 29,905,474 |
Bunge Ltd. | 114,799 | 8,375,735 |
Dr Pepper Snapple Group, Inc. | 311,006 | 27,794,606 |
Ingredion, Inc. | 57,826 | 5,496,940 |
PepsiCo, Inc. | 632,966 | 64,682,795 |
136,255,550 | ||
Health Care Equipment & Services 5.4% | ||
AmerisourceBergen Corp. | 320,725 | 30,953,170 |
C.R. Bard, Inc. | 119,029 | 22,181,054 |
Cardinal Health, Inc. | 222,915 | 18,323,613 |
Centene Corp. * | 137,961 | 8,205,920 |
Community Health Systems, Inc. * | 52,638 | 1,475,970 |
Hologic, Inc. * | 182,944 | 7,109,204 |
Humana, Inc. | 18,304 | 3,269,643 |
LifePoint Health, Inc. * | 31,715 | 2,184,529 |
McKesson Corp. | 136,086 | 24,332,177 |
Molina Healthcare, Inc. * | 142,104 | 8,810,448 |
126,845,728 |
Security | Number of Shares | Value ($) |
Household & Personal Products 1.6% | ||
Spectrum Brands Holdings, Inc. | 286,109 | 27,423,548 |
The Clorox Co. | 90,526 | 11,038,740 |
38,462,288 | ||
Insurance 3.4% | ||
American Financial Group, Inc. | 132,554 | 9,569,073 |
Everest Re Group Ltd. | 12,824 | 2,282,287 |
MetLife, Inc. | 602,199 | 30,338,786 |
Reinsurance Group of America, Inc. | 371,354 | 33,510,985 |
The Travelers Cos., Inc. | 32,387 | 3,656,169 |
79,357,300 | ||
Materials 1.8% | ||
Graphic Packaging Holding Co. | 407,253 | 5,766,703 |
International Paper Co. | 249,883 | 10,667,505 |
LyondellBasell Industries N.V., Class A | 119,030 | 11,059,077 |
PolyOne Corp. | 191,260 | 6,395,734 |
Steel Dynamics, Inc. | 528,097 | 9,753,952 |
43,642,971 | ||
Media 2.2% | ||
Comcast Corp., Class A | 812,820 | 50,898,788 |
Pharmaceuticals, Biotechnology & Life Sciences 9.7% | ||
AbbVie, Inc. | 367,456 | 21,882,005 |
Amgen, Inc. | 426,342 | 67,438,778 |
Catalent, Inc. * | 97,924 | 2,602,820 |
Celgene Corp. * | 121,381 | 14,894,662 |
Gilead Sciences, Inc. | 425,255 | 45,982,823 |
Johnson & Johnson | 235,949 | 23,837,927 |
Pfizer, Inc. | 1,560,340 | 52,770,699 |
229,409,714 | ||
Real Estate 3.6% | ||
Equity LifeStyle Properties, Inc. | 56,136 | 3,395,105 |
Simon Property Group, Inc. | 201,107 | 40,515,016 |
SL Green Realty Corp. | 343,691 | 40,768,627 |
84,678,748 | ||
Retailing 6.9% | ||
Amazon.com, Inc. * | 54,510 | 34,117,809 |
American Eagle Outfitters, Inc. | 285,264 | 4,358,834 |
Best Buy Co., Inc. | 277,312 | 9,714,239 |
Expedia, Inc. | 58,621 | 7,990,042 |
Lowe's Cos., Inc. | 843,184 | 62,252,275 |
Target Corp. | 184,248 | 14,220,261 |
The Gap, Inc. | 344,689 | 9,382,435 |
The Home Depot, Inc. | 168,913 | 20,884,403 |
162,920,298 | ||
Semiconductors & Semiconductor Equipment 1.4% | ||
Intel Corp. | 350,808 | 11,878,359 |
Microsemi Corp. * | 266,423 | 9,593,892 |
Security | Number of Shares | Value ($) |
ON Semiconductor Corp. * | 680,892 | 7,489,812 |
Teradyne, Inc. | 156,476 | 3,054,412 |
32,016,475 | ||
Software & Services 9.0% | ||
Accenture plc, Class A | 26,910 | 2,884,752 |
Alphabet, Inc., Class A * | 27,632 | 20,375,560 |
Alphabet, Inc., Class C * | 16,745 | 11,902,513 |
Broadridge Financial Solutions, Inc. | 134,533 | 8,015,476 |
Computer Sciences Corp. | 793,062 | 52,809,999 |
eBay, Inc. * | 315,285 | 8,796,452 |
Global Payments, Inc. | 41,131 | 5,610,680 |
j2 Global, Inc. | 32,493 | 2,519,832 |
Leidos Holdings, Inc. | 390,346 | 20,520,489 |
Microsoft Corp. | 756,800 | 39,837,952 |
Nuance Communications, Inc. * | 334,034 | 5,668,557 |
Rackspace Hosting, Inc. * | 244,132 | 6,310,812 |
Synopsys, Inc. * | 322,962 | 16,141,641 |
Xerox Corp. | 1,170,725 | 10,993,108 |
212,387,823 | ||
Technology Hardware & Equipment 8.3% | ||
Apple, Inc. | 1,189,817 | 142,183,131 |
Ciena Corp. * | 658,078 | 15,886,003 |
Cisco Systems, Inc. | 297,491 | 8,582,615 |
F5 Networks, Inc. * | 55,380 | 6,102,876 |
Ingram Micro, Inc., Class A | 121,425 | 3,616,037 |
Jabil Circuit, Inc. | 713,518 | 16,396,644 |
Juniper Networks, Inc. | 83,847 | 2,631,957 |
195,399,263 | ||
Telecommunication Services 1.8% | ||
Verizon Communications, Inc. | 915,661 | 42,926,188 |
Transportation 3.6% | ||
Delta Air Lines, Inc. | 848,007 | 43,112,676 |
FedEx Corp. | 108,449 | 16,923,467 |
United Parcel Service, Inc., Class B | 253,313 | 26,096,305 |
86,132,448 | ||
Utilities 3.5% | ||
Edison International | 38,034 | 2,301,818 |
Entergy Corp. | 391,556 | 26,688,457 |
NRG Energy, Inc. | 291,226 | 3,753,903 |
Public Service Enterprise Group, Inc. | 115,709 | 4,777,625 |
UGI Corp. | 1,218,523 | 44,683,238 |
82,205,041 | ||
Total Common Stock | ||
(Cost $2,061,357,618) | 2,345,796,296 | |
Security | Number of Shares | Value ($) |
Other Investment Companies 0.7% of net assets | ||
Money Market Fund 0.6% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (b) | 14,742,507 | 14,742,507 |
Securities Lending Collateral 0.1% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (b) | 3,268,125 | 3,268,125 |
Total Other Investment Companies | ||
(Cost $18,010,632) | 18,010,632 |
At 10/31/15, the tax basis cost of the fund's investments was $2,079,755,362 and the unrealized appreciation and depreciation were $350,191,830 and ($66,140,264), respectively, with a net unrealized appreciation of $284,051,566.
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $3,284,725. |
(b) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 114 | 11,820,090 | 704,063 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $2,345,796,296 | $— | $— | $2,345,796,296 | |||||
Other Investment Companies1 | 18,010,632 | — | — | 18,010,632 | |||||
Total | $2,363,806,928 | $— | $— | $2,363,806,928 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $704,063 | $— | $— | $704,063 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of portfolio holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $2,076,100,125) including securities on loan of $3,284,725 | $2,360,538,803 | |
Collateral invested for securities on loan, at value (cost $3,268,125) | + | 3,268,125 |
Total investments, at value (cost $2,079,368,250) | 2,363,806,928 | |
Deposit with broker for futures contracts | 1,329,400 | |
Receivables: | ||
Investments sold | 3,824,528 | |
Dividends | 2,336,961 | |
Fund shares sold | 309,687 | |
Income from securities on loan | 1,450 | |
Prepaid expenses | + | 21,985 |
Total assets | 2,371,630,939 | |
Liabilities | ||
Collateral held for securities on loan | 3,268,125 | |
Payables: | ||
Investment adviser and administrator fees | 182,816 | |
Shareholder service fees | 109,237 | |
Fund shares redeemed | 4,996,910 | |
Variation margin on futures contracts | 53,010 | |
Accrued expenses | + | 143,820 |
Total liabilities | 8,753,918 | |
Net Assets | ||
Total assets | 2,371,630,939 | |
Total liabilities | – | 8,753,918 |
Net assets | $2,362,877,021 | |
Net Assets by Source | ||
Capital received from investors | 1,767,787,523 | |
Net investment income not yet distributed | 22,957,023 | |
Net realized capital gains | 286,989,734 | |
Net unrealized capital appreciation | 285,142,741 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$2,362,877,021 | 102,293,901 | $23.10 | ||
Investment Income | ||
Dividends | $47,211,292 | |
Interest | 650 | |
Securities on loan | + | 489,863 |
Total investment income | 47,701,805 | |
Expenses | ||
Investment adviser and administrator fees | 11,070,162 | |
Shareholder service fees | 5,850,139 | |
Portfolio accounting fees | 78,515 | |
Shareholder reports | 67,937 | |
Registration fees | 61,177 | |
Transfer agent fees | 60,901 | |
Custodian fees | 46,124 | |
Professional fees | 36,718 | |
Proxy fees | 18,445 | |
Independent trustees' fees | 18,119 | |
Interest expense | 370 | |
Other expenses | + | 73,654 |
Total expenses | 17,382,261 | |
Expense reduction by CSIM and its affiliates | – | 60,901 |
Net expenses | – | 17,321,360 |
Net investment income | 30,380,445 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 308,307,082 | |
Net realized losses on futures contracts | + | (1,052,042) |
Net realized gains | 307,255,040 | |
Net change in unrealized appreciation (depreciation) on investments | (207,803,255) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 422,818 |
Net change in unrealized appreciation (depreciation) | + | (207,380,437) |
Net realized and unrealized gains | 99,874,603 | |
Increase in net assets resulting from operations | $130,255,048 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $30,380,445 | $27,282,370 | |
Net realized gains | 307,255,040 | 321,767,221 | |
Net change in unrealized appreciation (depreciation) | + | (207,380,437) | 32,031,539 |
Increase in net assets from operations | 130,255,048 | 381,081,130 | |
Distributions to Shareholders | |||
Distributions from net investment income | (30,311,016) | (21,200,511) | |
Distributions from net realized gains | + | (308,068,333) | (157,596,466) |
Total distributions | ($338,379,349) | ($178,796,977) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 12,845,696 | $293,750,932 | 10,594,267 | $247,389,415 | |
Shares reinvested | 10,461,915 | 236,857,753 | 4,044,873 | 89,432,146 | |
Shares redeemed | + | (11,947,882) | (276,936,418) | (19,480,472) | (468,899,959) |
Net transactions in fund shares | 11,359,729 | $253,672,267 | (4,841,332) | ($132,078,398) | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 90,934,172 | $2,317,329,055 | 95,775,504 | $2,247,123,300 | |
Total increase or decrease | + | 11,359,729 | 45,547,966 | (4,841,332) | 70,205,755 |
End of period | 102,293,901 | $2,362,877,021 | 90,934,172 | $2,317,329,055 | |
Net investment income not yet distributed | $22,957,023 | $24,336,689 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $19.17 | $18.22 | $14.52 | $13.15 | $12.08 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.29 1 | 0.27 | 0.32 | 0.27 | 0.23 | |
Net realized and unrealized gains (losses) | (0.21) | 2.16 | 3.70 | 1.38 | 1.06 | |
Total from investment operations | 0.08 | 2.43 | 4.02 | 1.65 | 1.29 | |
Less distributions: | ||||||
Distributions from net investment income | (0.27) | (0.29) | (0.32) | (0.28) | (0.22) | |
Distributions from net realized gains | (2.55) | (1.19) | — | — | — | |
Total distributions | (2.82) | (1.48) | (0.32) | (0.28) | (0.22) | |
Net asset value at end of period | $16.43 | $19.17 | $18.22 | $14.52 | $13.15 | |
Total return | 0.12% | 14.26% | 27.99% | 12.65% | 10.73% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.88% | 0.89% | 0.89% | 0.89% | 0.89% | |
Gross operating expenses | 0.88% | 0.89% | 0.89% | 0.89% | 0.89% | |
Net investment income (loss) | 1.71% | 1.47% | 1.97% | 1.89% | 1.77% | |
Portfolio turnover rate | 73% | 72% | 64% | 55% | 31% | |
Net assets, end of period (x 1,000,000) | $1,872 | $2,053 | $1,804 | $1,390 | $1,325 | |
Holdings by Category | Cost ($) | Value ($) | |
99.4% | Common Stock | 1,739,386,992 | 1,859,801,705 |
0.4% | Short-Term Investment | 7,616,449 | 7,616,449 |
99.8% | Total Investments | 1,747,003,441 | 1,867,418,154 |
0.2% | Other Assets and Liabilities, Net | 4,464,710 | |
100.0% | Net Assets | 1,871,882,864 |
Security | Number of Shares | Value ($) |
Common Stock 99.4% of net assets | ||
Automobiles & Components 2.1% | ||
Ford Motor Co. | 753,605 | 11,160,890 |
General Motors Co. | 448,497 | 15,657,030 |
Lear Corp. | 95,717 | 11,970,368 |
38,788,288 | ||
Banks 11.4% | ||
Citigroup, Inc. | 1,168,794 | 62,144,777 |
Citizens Financial Group, Inc. | 167,138 | 4,061,453 |
Fifth Third Bancorp | 464,700 | 8,852,535 |
First Niagara Financial Group, Inc. | 387,000 | 4,005,450 |
Huntington Bancshares, Inc. | 430,000 | 4,717,100 |
JPMorgan Chase & Co. | 1,245,094 | 79,997,290 |
MGIC Investment Corp. * | 564,698 | 5,308,161 |
Radian Group, Inc. | 763,543 | 11,048,467 |
Regions Financial Corp. | 376,400 | 3,519,340 |
Wells Fargo & Co. | 544,051 | 29,454,921 |
213,109,494 | ||
Capital Goods 6.7% | ||
Allison Transmission Holdings, Inc. | 190,831 | 5,476,850 |
BWX Technologies, Inc. | 255,909 | 7,242,225 |
General Dynamics Corp. | 60,436 | 8,979,581 |
General Electric Co. | 462,800 | 13,384,176 |
Huntington Ingalls Industries, Inc. | 134,780 | 16,165,513 |
Jacobs Engineering Group, Inc. * | 72,872 | 2,925,082 |
Kennametal, Inc. | 40,445 | 1,137,313 |
Spirit AeroSystems Holdings, Inc., Class A * | 520,518 | 27,452,119 |
Stanley Black & Decker, Inc. | 397,707 | 42,148,988 |
124,911,847 |
Security | Number of Shares | Value ($) |
Commercial & Professional Supplies 1.9% | ||
Clean Harbors, Inc. * | 21,060 | 979,080 |
Pitney Bowes, Inc. | 292,563 | 6,041,426 |
R.R. Donnelley & Sons Co. | 1,426,028 | 24,057,092 |
Waste Management, Inc. | 73,507 | 3,951,736 |
35,029,334 | ||
Consumer Durables & Apparel 0.3% | ||
Wolverine World Wide, Inc. | 288,673 | 5,360,658 |
Consumer Services 2.9% | ||
Darden Restaurants, Inc. | 534,207 | 33,062,071 |
Six Flags Entertainment Corp. | 120,760 | 6,284,351 |
Vail Resorts, Inc. | 132,864 | 15,169,083 |
54,515,505 | ||
Diversified Financials 4.5% | ||
Ally Financial, Inc. * | 82,583 | 1,645,053 |
Janus Capital Group, Inc. | 304,748 | 4,732,736 |
Lazard Ltd., Class A | 454,575 | 21,055,914 |
Navient Corp. | 352,899 | 4,654,738 |
The Goldman Sachs Group, Inc. | 80,269 | 15,050,438 |
Voya Financial, Inc. | 898,634 | 36,457,581 |
83,596,460 | ||
Energy 13.4% | ||
Chevron Corp. | 376,315 | 34,199,507 |
ConocoPhillips | 703,270 | 37,519,454 |
CVR Energy, Inc. | 247,347 | 10,997,048 |
Devon Energy Corp. | 311,024 | 13,041,236 |
Exxon Mobil Corp. | 471,144 | 38,982,455 |
Marathon Oil Corp. | 81,648 | 1,500,690 |
Marathon Petroleum Corp. | 319,205 | 16,534,819 |
Murphy Oil Corp. | 359,063 | 10,208,161 |
Occidental Petroleum Corp. | 88,750 | 6,615,425 |
Superior Energy Services, Inc. | 901,577 | 12,766,330 |
Teekay Corp. | 54,059 | 1,736,916 |
Tesoro Corp. | 139,413 | 14,907,432 |
Valero Energy Corp. | 684,401 | 45,115,714 |
Western Refining, Inc. | 180,316 | 7,504,752 |
251,629,939 | ||
Food & Staples Retailing 2.0% | ||
The Kroger Co. | 483,564 | 18,278,719 |
Wal-Mart Stores, Inc. | 331,489 | 18,974,431 |
37,253,150 | ||
Food, Beverage & Tobacco 4.5% | ||
Archer-Daniels-Midland Co. | 460,343 | 21,019,261 |
Bunge Ltd. | 229,058 | 16,712,072 |
ConAgra Foods, Inc. | 232,492 | 9,427,551 |
Dr Pepper Snapple Group, Inc. | 197,905 | 17,686,770 |
PepsiCo, Inc. | 196,344 | 20,064,393 |
84,910,047 |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 4.1% | ||
AmerisourceBergen Corp. | 251,024 | 24,226,326 |
Cardinal Health, Inc. | 446,694 | 36,718,247 |
Community Health Systems, Inc. * | 38,658 | 1,083,970 |
McKesson Corp. | 21,910 | 3,917,508 |
Molina Healthcare, Inc. * | 167,276 | 10,371,112 |
76,317,163 | ||
Household & Personal Products 0.1% | ||
Spectrum Brands Holdings, Inc. | 24,760 | 2,373,246 |
Insurance 6.2% | ||
Assured Guaranty Ltd. | 250,413 | 6,871,333 |
Everest Re Group Ltd. | 10,792 | 1,920,652 |
MetLife, Inc. | 783,980 | 39,496,912 |
Reinsurance Group of America, Inc. | 429,882 | 38,792,552 |
The Travelers Cos., Inc. | 254,328 | 28,711,088 |
115,792,537 | ||
Materials 2.9% | ||
International Paper Co. | 411,654 | 17,573,509 |
LyondellBasell Industries N.V., Class A | 172,412 | 16,018,799 |
PolyOne Corp. | 163,956 | 5,482,689 |
Steel Dynamics, Inc. | 820,706 | 15,158,440 |
54,233,437 | ||
Pharmaceuticals, Biotechnology & Life Sciences 6.8% | ||
Amgen, Inc. | 238,463 | 37,720,077 |
Gilead Sciences, Inc. | 149,523 | 16,167,922 |
Johnson & Johnson | 78,228 | 7,903,375 |
Merck & Co., Inc. | 11,053 | 604,157 |
Pfizer, Inc. | 1,912,372 | 64,676,421 |
127,071,952 | ||
Real Estate 4.9% | ||
CBL & Associates Properties, Inc. | 157,146 | 2,291,189 |
Duke Realty Corp. | 1,207,643 | 24,998,210 |
Equity LifeStyle Properties, Inc. | 175,148 | 10,592,951 |
Equity Residential | 37,897 | 2,930,196 |
Retail Properties of America, Inc., Class A | 505,926 | 7,573,712 |
RLJ Lodging Trust | 142,000 | 3,562,780 |
Simon Property Group, Inc. | 68,893 | 13,879,184 |
SL Green Realty Corp. | 193,705 | 22,977,287 |
UDR, Inc. | 102,692 | 3,538,766 |
92,344,275 | ||
Retailing 2.9% | ||
American Eagle Outfitters, Inc. | 255,832 | 3,909,113 |
Best Buy Co., Inc. | 333,863 | 11,695,221 |
Chico's FAS, Inc. | 211,921 | 2,928,748 |
Lowe's Cos., Inc. | 385,849 | 28,487,232 |
The Gap, Inc. | 113,929 | 3,101,147 |
The Home Depot, Inc. | 34,114 | 4,217,855 |
54,339,316 |
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 2.1% | ||
Intel Corp. | 1,070,970 | 36,263,044 |
Teradyne, Inc. | 140,305 | 2,738,754 |
39,001,798 | ||
Software & Services 5.0% | ||
Accenture plc, Class A | 36,522 | 3,915,158 |
Computer Sciences Corp. | 616,018 | 41,020,639 |
Global Payments, Inc. | 10,228 | 1,395,201 |
Leidos Holdings, Inc. | 321,465 | 16,899,415 |
Microsoft Corp. | 386,090 | 20,323,778 |
Rackspace Hosting, Inc. * | 289,026 | 7,471,322 |
Xerox Corp. | 258,734 | 2,429,512 |
93,455,025 | ||
Technology Hardware & Equipment 4.4% | ||
Apple, Inc. | 325,866 | 38,940,987 |
Cisco Systems, Inc. | 682,211 | 19,681,788 |
F5 Networks, Inc. * | 48,271 | 5,319,464 |
Hewlett-Packard Co. | 497,396 | 13,409,796 |
Ingram Micro, Inc., Class A | 146,613 | 4,366,135 |
SYNNEX Corp. | 8,209 | 726,004 |
82,444,174 | ||
Telecommunication Services 1.1% | ||
AT&T, Inc. | 147,631 | 4,947,115 |
Verizon Communications, Inc. | 337,843 | 15,838,080 |
20,785,195 | ||
Transportation 2.3% | ||
Delta Air Lines, Inc. | 283,629 | 14,419,698 |
United Parcel Service, Inc., Class B | 288,069 | 29,676,869 |
44,096,567 | ||
Utilities 6.9% | ||
AES Corp. | 854,365 | 9,355,297 |
American Electric Power Co., Inc. | 490,867 | 27,807,616 |
CenterPoint Energy, Inc. | 39,099 | 725,287 |
Edison International | 60,295 | 3,649,053 |
Entergy Corp. | 487,549 | 33,231,340 |
Exelon Corp. | 374,238 | 10,448,725 |
NRG Energy, Inc. | 555,778 | 7,163,978 |
UGI Corp. | 947,745 | 34,753,809 |
Xcel Energy, Inc. | 36,688 | 1,307,193 |
128,442,298 | ||
Total Common Stock | ||
(Cost $1,739,386,992) | 1,859,801,705 |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.4% of net assets | ||
Time Deposit 0.4% | ||
Bank of Tokyo - Mitsubishi UFJ | ||
0.03%, 11/02/15 | 7,616,449 | 7,616,449 |
Total Short-Term Investment | ||
(Cost $7,616,449) | 7,616,449 |
* | Non-income producing security. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 78 | 8,087,430 | 481,727 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $1,859,801,705 | $— | $— | $1,859,801,705 | |||||
Short-Term Investment1 | — | 7,616,449 | — | 7,616,449 | |||||
Total | $1,859,801,705 | $7,616,449 | $— | $1,867,418,154 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $481,727 | $— | $— | $481,727 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of portfolio holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $1,747,003,441) | $1,867,418,154 | |
Deposit with broker for futures contracts | 450,800 | |
Receivables: | ||
Investments sold | 4,248,133 | |
Dividends | 2,609,395 | |
Fund shares sold | 210,206 | |
Interest | 13 | |
Prepaid expenses | + | 26,825 |
Total assets | 1,874,963,526 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 191,947 | |
Shareholder service fees | 76,188 | |
Fund shares redeemed | 2,647,936 | |
Variation margin on futures contracts | 36,270 | |
Accrued expenses | + | 128,321 |
Total liabilities | 3,080,662 | |
Net Assets | ||
Total assets | 1,874,963,526 | |
Total liabilities | – | 3,080,662 |
Net assets | $1,871,882,864 | |
Net Assets by Source | ||
Capital received from investors | 1,554,190,137 | |
Net investment income not yet distributed | 587,212 | |
Net realized capital gains | 196,209,075 | |
Net unrealized capital appreciation | 120,896,440 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,871,882,864 | 113,914,626 | $16.43 | ||
Investment Income | ||
Dividends | $51,435,325 | |
Interest | + | 5,177 |
Total investment income | 51,440,502 | |
Expenses | ||
Investment adviser and administrator fees | 12,324,201 | |
Shareholder service fees | 4,849,426 | |
Portfolio accounting fees | 75,673 | |
Shareholder reports | 56,363 | |
Registration fees | 45,416 | |
Custodian fees | 41,562 | |
Professional fees | 41,406 | |
Transfer agent fees | 40,971 | |
Proxy fees | 17,320 | |
Independent trustees' fees | 16,446 | |
Other expenses | + | 61,203 |
Total expenses | 17,569,987 | |
Expense reduction by CSIM and its affiliates | – | 40,971 |
Net expenses | – | 17,529,016 |
Net investment income | 33,911,486 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 194,362,889 | |
Net realized losses on futures contracts | + | (346,514) |
Net realized gains | 194,016,375 | |
Net change in unrealized appreciation (depreciation) on investments | (221,375,402) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 278,319 |
Net change in unrealized appreciation (depreciation) | + | (221,097,083) |
Net realized and unrealized losses | (27,080,708) | |
Increase in net assets resulting from operations | $6,830,778 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $33,911,486 | $28,562,537 | |
Net realized gains | 194,016,375 | 273,148,591 | |
Net change in unrealized appreciation (depreciation) | + | (221,097,083) | (45,088,782) |
Increase in net assets from operations | 6,830,778 | 256,622,346 | |
Distributions to Shareholders | |||
Distributions from net investment income | (31,258,036) | (30,034,449) | |
Distributions from net realized gains | + | (272,348,613) | (118,279,747) |
Total distributions | ($303,606,649) | ($148,314,196) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 14,692,885 | $248,859,127 | 17,591,274 | $317,805,473 | |
Shares reinvested | 12,419,993 | 210,709,144 | 5,046,536 | 87,839,410 | |
Shares redeemed | + | (20,322,510) | (344,140,463) | (14,499,226) | (264,363,089) |
Net transactions in fund shares | 6,790,368 | $115,427,808 | 8,138,584 | $141,281,794 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 107,124,258 | $2,053,230,927 | 98,985,674 | $1,803,640,983 | |
Total increase or decrease | + | 6,790,368 | (181,348,063) | 8,138,584 | 249,589,944 |
End of period | 113,914,626 | $1,871,882,864 | 107,124,258 | $2,053,230,927 | |
Net investment income not yet distributed | $587,212 | $— |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $18.38 | $15.66 | $12.48 | $11.18 | $10.48 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.13 1 | 0.11 | 0.14 | 0.07 | 0.07 | |
Net realized and unrealized gains (losses) | 1.08 | 2.70 | 3.17 | 1.29 | 0.69 | |
Total from investment operations | 1.21 | 2.81 | 3.31 | 1.36 | 0.76 | |
Less distributions: | ||||||
Distributions from net investment income | (0.09) | (0.09) | (0.13) | (0.06) | (0.06) | |
Distributions from net realized gains | (1.82) | — | — | — | — | |
Total distributions | (1.91) | (0.09) | (0.13) | (0.06) | (0.06) | |
Net asset value at end of period | $17.68 | $18.38 | $15.66 | $12.48 | $11.18 | |
Total return | 7.00% | 18.06% | 26.76% | 12.18% | 7.25% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.99% | 0.99% | 0.99% | 0.99% | 0.99% | |
Gross operating expenses | 1.03% | 1.04% | 1.05% | 1.05% | 1.05% | |
Net investment income (loss) | 0.75% | 0.60% | 1.00% | 0.53% | 0.56% | |
Portfolio turnover rate | 90% | 82% | 87% | 79% | 62% | |
Net assets, end of period (x 1,000,000) | $251 | $256 | $253 | $217 | $213 | |
Holdings by Category | Cost ($) | Value ($) | |
99.3% | Common Stock | 217,636,236 | 248,986,487 |
0.7% | Short-Term Investment | 1,849,974 | 1,849,974 |
100.0% | Total Investments | 219,486,210 | 250,836,461 |
0.0% | Other Assets and Liabilities, Net | 33,583 | |
100.0% | Net Assets | 250,870,044 |
Security | Number of Shares | Value ($) |
Common Stock 99.3% of net assets | ||
Automobiles & Components 1.1% | ||
Delphi Automotive plc | 6,056 | 503,799 |
Lear Corp. | 18,650 | 2,332,369 |
2,836,168 | ||
Banks 1.5% | ||
MGIC Investment Corp. * | 24,964 | 234,662 |
Radian Group, Inc. | 239,175 | 3,460,862 |
3,695,524 | ||
Capital Goods 6.5% | ||
BWX Technologies, Inc. | 107,884 | 3,053,117 |
Huntington Ingalls Industries, Inc. | 49,804 | 5,973,492 |
Masco Corp. | 9,327 | 270,483 |
Owens Corning | 14,991 | 682,540 |
Spirit AeroSystems Holdings, Inc., Class A * | 86,481 | 4,561,008 |
Stanley Black & Decker, Inc. | 15,581 | 1,651,275 |
16,191,915 | ||
Commercial & Professional Supplies 1.4% | ||
R.R. Donnelley & Sons Co. | 201,500 | 3,399,305 |
Consumer Durables & Apparel 2.4% | ||
NIKE, Inc., Class B | 24,095 | 3,157,168 |
Wolverine World Wide, Inc. | 147,463 | 2,738,388 |
5,895,556 | ||
Consumer Services 2.9% | ||
Cracker Barrel Old Country Store, Inc. | 1,714 | 235,606 |
Darden Restaurants, Inc. | 55,733 | 3,449,315 |
Security | Number of Shares | Value ($) |
Jack in the Box, Inc. | 8,936 | 666,000 |
Six Flags Entertainment Corp. | 5,399 | 280,964 |
Vail Resorts, Inc. | 23,144 | 2,642,351 |
7,274,236 | ||
Diversified Financials 1.5% | ||
Ally Financial, Inc. * | 14,089 | 280,653 |
Lazard Ltd., Class A | 10,296 | 476,911 |
Voya Financial, Inc. | 77,036 | 3,125,350 |
3,882,914 | ||
Energy 2.7% | ||
CVR Energy, Inc. | 12,427 | 552,505 |
Marathon Petroleum Corp. | 29,483 | 1,527,219 |
Tesoro Corp. | 5,852 | 625,754 |
Valero Energy Corp. | 58,590 | 3,862,253 |
Western Refining, Inc. | 5,558 | 231,324 |
6,799,055 | ||
Food & Staples Retailing 2.1% | ||
The Kroger Co. | 136,061 | 5,143,106 |
Food, Beverage & Tobacco 6.9% | ||
Archer-Daniels-Midland Co. | 49,589 | 2,264,234 |
Bunge Ltd. | 28,660 | 2,091,034 |
Campbell Soup Co. | 4,880 | 247,855 |
ConAgra Foods, Inc. | 17,605 | 713,883 |
Dr Pepper Snapple Group, Inc. | 63,220 | 5,649,971 |
PepsiCo, Inc. | 63,145 | 6,452,787 |
17,419,764 | ||
Health Care Equipment & Services 7.2% | ||
Allscripts Healthcare Solutions, Inc. * | 18,143 | 255,091 |
AmerisourceBergen Corp. | 56,774 | 5,479,259 |
Cardinal Health, Inc. | 52,547 | 4,319,363 |
Centene Corp. * | 9,532 | 566,963 |
Community Health Systems, Inc. * | 20,002 | 560,856 |
Express Scripts Holding Co. * | 8,725 | 753,666 |
Hologic, Inc. * | 73,221 | 2,845,368 |
McKesson Corp. | 1,248 | 223,142 |
Molina Healthcare, Inc. * | 51,137 | 3,170,494 |
18,174,202 | ||
Household & Personal Products 0.2% | ||
Spectrum Brands Holdings, Inc. | 6,281 | 602,034 |
Insurance 2.2% | ||
MetLife, Inc. | 14,947 | 753,030 |
Reinsurance Group of America, Inc. | 54,081 | 4,880,269 |
5,633,299 | ||
Materials 2.0% | ||
LyondellBasell Industries N.V., Class A | 24,602 | 2,285,772 |
PolyOne Corp. | 42,580 | 1,423,875 |
Steel Dynamics, Inc. | 76,421 | 1,411,496 |
5,121,143 |
Security | Number of Shares | Value ($) |
Media 3.9% | ||
Comcast Corp., Class A | 121,275 | 7,594,241 |
Scripps Networks Interactive, Inc., Class A | 28,148 | 1,691,132 |
The Interpublic Group of Cos., Inc. | 18,266 | 418,839 |
9,704,212 | ||
Pharmaceuticals, Biotechnology & Life Sciences 10.6% | ||
AbbVie, Inc. | 52,782 | 3,143,168 |
Amgen, Inc. | 48,647 | 7,694,982 |
Biogen, Inc. * | 5,575 | 1,619,593 |
Catalent, Inc. * | 29,197 | 776,056 |
Celgene Corp. * | 34,412 | 4,222,697 |
Eli Lilly & Co. | 5,412 | 441,457 |
Gilead Sciences, Inc. | 76,998 | 8,325,794 |
Zoetis, Inc. | 5,782 | 248,684 |
26,472,431 | ||
Real Estate 1.9% | ||
Lamar Advertising Co., Class A | 17,216 | 971,499 |
SL Green Realty Corp. | 31,565 | 3,744,240 |
4,715,739 | ||
Retailing 8.4% | ||
Amazon.com, Inc. * | 9,054 | 5,666,899 |
American Eagle Outfitters, Inc. | 14,361 | 219,436 |
Best Buy Co., Inc. | 44,825 | 1,570,220 |
Chico's FAS, Inc. | 45,151 | 623,987 |
Expedia, Inc. | 2,729 | 371,963 |
Genuine Parts Co. | 2,819 | 255,852 |
Lowe's Cos., Inc. | 91,627 | 6,764,821 |
Target Corp. | 13,258 | 1,023,253 |
The Gap, Inc. | 76,911 | 2,093,517 |
The Home Depot, Inc. | 17,145 | 2,119,808 |
The TJX Cos., Inc. | 5,338 | 390,688 |
21,100,444 | ||
Semiconductors & Semiconductor Equipment 1.7% | ||
Intel Corp. | 47,878 | 1,621,149 |
Microsemi Corp. * | 64,392 | 2,318,756 |
Teradyne, Inc. | 14,885 | 290,555 |
4,230,460 | ||
Software & Services 14.8% | ||
Accenture plc, Class A | 23,119 | 2,478,357 |
Alphabet, Inc., Class A * | 12,144 | 8,954,864 |
Computer Sciences Corp. | 82,098 | 5,466,906 |
eBay, Inc. * | 8,983 | 250,626 |
Electronic Arts, Inc. * | 14,952 | 1,077,591 |
Facebook, Inc., Class A * | 43,557 | 4,441,507 |
Global Payments, Inc. | 8,345 | 1,138,341 |
IAC/InterActiveCorp | 4,600 | 308,246 |
Leidos Holdings, Inc. | 102,151 | 5,370,078 |
Microsoft Corp. | 79,704 | 4,195,619 |
Nuance Communications, Inc. * | 27,945 | 474,227 |
Rackspace Hosting, Inc. * | 82,958 | 2,144,464 |
Red Hat, Inc. * | 3,231 | 255,604 |
Security | Number of Shares | Value ($) |
Sabre Corp. | 8,960 | 262,707 |
Xerox Corp. | 43,559 | 409,019 |
37,228,156 | ||
Technology Hardware & Equipment 11.1% | ||
Apple, Inc. | 183,008 | 21,869,456 |
Ciena Corp. * | 112,744 | 2,721,640 |
Cisco Systems, Inc. | 27,816 | 802,492 |
F5 Networks, Inc. * | 21,676 | 2,388,695 |
27,782,283 | ||
Telecommunication Services 0.7% | ||
Verizon Communications, Inc. | 36,345 | 1,703,854 |
Transportation 4.6% | ||
Alaska Air Group, Inc. | 7,796 | 594,445 |
Delta Air Lines, Inc. | 118,825 | 6,041,063 |
Matson, Inc. | 34,000 | 1,558,220 |
United Continental Holdings, Inc. * | 18,715 | 1,128,701 |
United Parcel Service, Inc., Class B | 21,688 | 2,234,298 |
11,556,727 | ||
Utilities 1.0% | ||
UGI Corp. | 66,102 | 2,423,960 |
Total Common Stock | ||
(Cost $217,636,236) | 248,986,487 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.7% of net assets | ||
Time Deposit 0.7% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.03%, 11/02/15 | 1,849,974 | 1,849,974 |
Total Short-Term Investment | ||
(Cost $1,849,974) | 1,849,974 |
* | Non-income producing security. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 10 | 1,036,850 | 61,760 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $248,986,487 | $— | $— | $248,986,487 | |||||
Short-Term Investment1 | — | 1,849,974 | — | 1,849,974 | |||||
Total | $248,986,487 | $1,849,974 | $— | $250,836,461 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $61,760 | $— | $— | $61,760 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of portfolio holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $219,486,210) | $250,836,461 | |
Deposit with broker for futures contracts | 69,000 | |
Receivables: | ||
Dividends | 129,393 | |
Fund shares sold | 77,510 | |
Prepaid expenses | + | 12,627 |
Total assets | 251,124,991 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 28,810 | |
Shareholder service fees | 10,528 | |
Fund shares redeemed | 147,499 | |
Variation margin on futures contracts | 4,650 | |
Accrued expenses | + | 63,460 |
Total liabilities | 254,947 | |
Net Assets | ||
Total assets | 251,124,991 | |
Total liabilities | – | 254,947 |
Net assets | $250,870,044 | |
Net Assets by Source | ||
Capital received from investors | 184,799,030 | |
Net investment income not yet distributed | 1,586,062 | |
Net realized capital gains | 33,072,941 | |
Net unrealized capital appreciation | 31,412,011 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$250,870,044 | 14,189,605 | $17.68 | ||
Investment Income | ||
Dividends | $4,423,453 | |
Interest | 659 | |
Securities on loan | + | 49,709 |
Total investment income | 4,473,821 | |
Expenses | ||
Investment adviser and administrator fees | 1,846,082 | |
Shareholder service fees | 626,648 | |
Portfolio accounting fees | 41,397 | |
Professional fees | 35,918 | |
Transfer agent fees | 26,730 | |
Shareholder reports | 23,099 | |
Registration fees | 11,029 | |
Custodian fees | 10,694 | |
Independent trustees' fees | 8,064 | |
Proxy fees | 6,596 | |
Other expenses | + | 12,139 |
Total expenses | 2,648,396 | |
Expense reduction by CSIM and its affiliates | – | 103,581 |
Net expenses | – | 2,544,815 |
Net investment income | 1,929,006 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 32,937,851 | |
Net realized gains on futures contracts | + | 3,787 |
Net realized gains | 32,941,638 | |
Net change in unrealized appreciation (depreciation) on investments | (17,512,035) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 49,573 |
Net change in unrealized appreciation (depreciation) | + | (17,462,462) |
Net realized and unrealized gains | 15,479,176 | |
Increase in net assets resulting from operations | $17,408,182 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $1,929,006 | $1,533,883 | |
Net realized gains | 32,941,638 | 39,312,198 | |
Net change in unrealized appreciation (depreciation) | + | (17,462,462) | 1,502,772 |
Increase in net assets from operations | 17,408,182 | 42,348,853 | |
Distributions to Shareholders | |||
Distributions from net investment income | (1,230,983) | (1,490,864) | |
Distributions from net realized gains | + | (25,103,219) | — |
Total distributions | ($26,334,202) | ($1,490,864) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 1,525,412 | $26,545,521 | 1,209,235 | $20,323,834 | |
Shares reinvested | 883,607 | 14,985,971 | 49,885 | 793,166 | |
Shares redeemed | + | (2,147,036) | (37,713,740) | (3,467,366) | (58,680,881) |
Net transactions in fund shares | 261,983 | $3,817,752 | (2,208,246) | ($37,563,881) | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 13,927,622 | $255,978,312 | 16,135,868 | $252,684,204 | |
Total increase or decrease | + | 261,983 | (5,108,268) | (2,208,246) | 3,294,108 |
End of period | 14,189,605 | $250,870,044 | 13,927,622 | $255,978,312 | |
Net investment income not yet distributed | $1,586,062 | $972,556 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $25.11 | $24.87 | $17.72 | $15.61 | $13.96 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.05 1 | (0.02) | 0.09 | 0.02 | (0.01) | |
Net realized and unrealized gains (losses) | 0.63 | 2.71 | 7.16 | 2.10 | 1.66 | |
Total from investment operations | 0.68 | 2.69 | 7.25 | 2.12 | 1.65 | |
Less distributions: | ||||||
Distributions from net investment income | (0.02) | (0.07) | (0.10) | (0.01) | — | |
Distributions from net realized gains | (4.58) | (2.38) | — | — | — | |
Total distributions | (4.60) | (2.45) | (0.10) | (0.01) | — | |
Net asset value at end of period | $21.19 | $25.11 | $24.87 | $17.72 | $15.61 | |
Total return | 3.01% | 11.67% | 41.10% | 13.57% | 11.82% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.09% | 1.10% | 1.10% | 1.12% | 1.11% | |
Gross operating expenses | 1.09% | 1.10% | 1.11% | 1.12% | 1.12% | |
Net investment income (loss) | 0.22% | (0.10%) | 0.42% | 0.11% | (0.05%) | |
Portfolio turnover rate | 95% | 103% | 84% | 101% | 72% | |
Net assets, end of period (x 1,000,000) | $630 | $666 | $590 | $388 | $226 | |
Holdings by Category | Cost ($) | Value ($) | |
99.7% | Common Stock | 610,767,482 | 628,545,352 |
4.9% | Other Investment Company | 30,521,443 | 30,521,443 |
0.1% | Short-Term Investment | 831,079 | 831,079 |
104.7% | Total Investments | 642,120,004 | 659,897,874 |
(4.7%) | Other Assets and Liabilities, Net | (29,533,573) | |
100.0% | Net Assets | 630,364,301 |
Security | Number of Shares | Value ($) |
Common Stock 99.7% of net assets | ||
Automobiles & Components 3.4% | ||
American Axle & Manufacturing Holdings, Inc. * | 340,212 | 7,539,098 |
Cooper Tire & Rubber Co. | 45,901 | 1,918,203 |
Dana Holding Corp. | 106,659 | 1,791,871 |
Tenneco, Inc. * | 133,829 | 7,573,383 |
Tower International, Inc. * | 102,880 | 2,826,114 |
21,648,669 | ||
Banks 7.9% | ||
1st Source Corp. | 35,101 | 1,114,808 |
Banc of California, Inc. | 342,855 | 4,470,829 |
BancFirst Corp. | 13,210 | 814,132 |
BNC Bancorp | 18,449 | 414,180 |
Camden National Corp. | 14,621 | 571,535 |
Federal Agricultural Mortgage Corp., Class C | 44,786 | 1,314,917 |
First Bancorp (North Carolina) | 14,300 | 264,979 |
First BanCorp (Puerto Rico) * | 1,059,719 | 4,016,335 |
First Citizens BancShares, Inc., Class A | 4,287 | 1,098,072 |
First Community Bancshares, Inc. | 27,051 | 520,191 |
First Defiance Financial Corp. | 10,948 | 419,308 |
First Financial Corp. | 34,409 | 1,179,196 |
First Interstate BancSystem, Inc., Class A | 28,960 | 821,306 |
Great Southern Bancorp, Inc. | 5,287 | 255,521 |
Great Western Bancorp, Inc. | 73,760 | 2,084,458 |
Heartland Financial USA, Inc. | 12,827 | 472,547 |
International Bancshares Corp. | 44,030 | 1,186,608 |
Lakeland Bancorp, Inc. | 13,494 | 156,935 |
Security | Number of Shares | Value ($) |
MainSource Financial Group, Inc. | 29,140 | 630,590 |
MGIC Investment Corp. * | 766,064 | 7,201,002 |
NBT Bancorp, Inc. | 7,853 | 220,748 |
OFG Bancorp | 14,567 | 134,162 |
Preferred Bank | 31,993 | 1,059,288 |
Radian Group, Inc. | 480,138 | 6,947,597 |
Republic Bancorp, Inc., Class A | 24,098 | 612,812 |
Synovus Financial Corp. | 112,784 | 3,567,358 |
TCF Financial Corp. | 175,248 | 2,697,067 |
TriState Capital Holdings, Inc. * | 8,826 | 110,237 |
United Community Banks, Inc. | 210,147 | 4,236,563 |
Waterstone Financial, Inc. | 46,541 | 619,926 |
WSFS Financial Corp. | 14,072 | 447,067 |
49,660,274 | ||
Capital Goods 8.1% | ||
Accuride Corp. * | 167,189 | 471,473 |
Aerojet Rocketdyne Holdings, Inc. * | 124,994 | 2,117,398 |
Allied Motion Technologies, Inc. | 8,617 | 166,222 |
Altra Industrial Motion Corp. | 20,400 | 539,784 |
Blount International, Inc. * | 230,349 | 1,398,218 |
BWX Technologies, Inc. | 177,048 | 5,010,458 |
Commercial Vehicle Group, Inc. * | 22,729 | 94,553 |
Cubic Corp. | 107,624 | 4,826,936 |
Ducommun, Inc. * | 35,259 | 763,005 |
DXP Enterprises, Inc. * | 4,452 | 134,717 |
EMCOR Group, Inc. | 51,497 | 2,486,275 |
General Cable Corp. | 392,882 | 6,046,454 |
Global Brass & Copper Holdings, Inc. | 97,379 | 2,190,054 |
Hillenbrand, Inc. | 19,568 | 580,583 |
Hurco Cos., Inc. | 9,200 | 247,204 |
John Bean Technologies Corp. | 87,360 | 3,918,970 |
Kadant, Inc. | 20,540 | 844,605 |
Kaman Corp. | 63,744 | 2,479,004 |
L.B. Foster Co., Class A | 10,746 | 158,289 |
Meritor, Inc. * | 210,226 | 2,285,157 |
Moog, Inc., Class A * | 32,357 | 1,998,368 |
MYR Group, Inc. * | 14,775 | 332,437 |
National Presto Industries, Inc. | 13,791 | 1,214,298 |
Patrick Industries, Inc. * | 46,530 | 1,888,187 |
Rexnord Corp. * | 65,614 | 1,212,547 |
Titan Machinery, Inc. *(a) | 15,257 | 186,593 |
Wabash National Corp. * | 603,119 | 7,219,334 |
50,811,123 | ||
Commercial & Professional Supplies 2.7% | ||
ACCO Brands Corp. * | 53,714 | 433,472 |
ARC Document Solutions, Inc. * | 30,710 | 191,016 |
CDI Corp. | 6,016 | 48,128 |
CRA International, Inc. * | 47,816 | 1,118,894 |
Deluxe Corp. | 45,901 | 2,733,405 |
Ennis, Inc. | 189,823 | 3,802,155 |
Heidrick & Struggles International, Inc. | 100,606 | 2,672,095 |
Hill International, Inc. * | 70,478 | 238,216 |
Quad Graphics, Inc. | 371,666 | 4,794,491 |
TrueBlue, Inc. * | 25,958 | 752,003 |
16,783,875 |
Security | Number of Shares | Value ($) |
Consumer Durables & Apparel 1.2% | ||
CSS Industries, Inc. | 20,620 | 562,926 |
Culp, Inc. | 25,758 | 772,998 |
Installed Building Products, Inc. * | 5,103 | 113,031 |
JAKKS Pacific, Inc. *(a) | 393,593 | 3,117,257 |
Johnson Outdoors, Inc., Class A | 7,100 | 152,153 |
Libbey, Inc. | 15,237 | 512,573 |
Nautilus, Inc. * | 109,212 | 1,860,972 |
Perry Ellis International, Inc. * | 33,752 | 724,655 |
7,816,565 | ||
Consumer Services 3.6% | ||
Ascent Capital Group, Inc., Class A * | 43,779 | 953,507 |
Bloomin' Brands, Inc. | 152,293 | 2,584,412 |
Boyd Gaming Corp. * | 32,999 | 659,650 |
Bravo Brio Restaurant Group, Inc. * | 41,654 | 489,018 |
Capella Education Co. | 22,345 | 1,008,877 |
ClubCorp Holdings, Inc. | 30,153 | 616,327 |
Denny's Corp. * | 30,038 | 329,216 |
Diamond Resorts International, Inc. * | 145,128 | 4,127,440 |
Isle of Capri Casinos, Inc. * | 172,058 | 3,291,470 |
K12, Inc. * | 202,233 | 1,963,682 |
Penn National Gaming, Inc. * | 153,465 | 2,740,885 |
Regis Corp. * | 173,292 | 2,862,784 |
Ruby Tuesday, Inc. * | 142,609 | 745,845 |
Ruth's Hospitality Group, Inc. | 2,807 | 43,537 |
Strayer Education, Inc. * | 4,742 | 250,947 |
22,667,597 | ||
Diversified Financials 4.4% | ||
Calamos Asset Management, Inc., Class A | 78,751 | 739,472 |
Cash America International, Inc. | 127,547 | 4,404,198 |
Diamond Hill Investment Group, Inc. | 999 | 199,850 |
Gain Capital Holdings, Inc. | 229,235 | 1,707,801 |
Interactive Brokers Group, Inc., Class A | 140,190 | 5,767,417 |
Janus Capital Group, Inc. | 1,997 | 31,013 |
KCG Holdings, Inc., Class A * | 498,533 | 6,226,677 |
MarketAxess Holdings, Inc. | 41,969 | 4,251,879 |
Marlin Business Services Corp. | 39,303 | 694,091 |
Nelnet, Inc., Class A | 72,125 | 2,580,632 |
Oppenheimer Holdings, Inc., Class A | 20,296 | 372,432 |
Regional Management Corp. * | 25,001 | 407,766 |
Westwood Holdings Group, Inc. | 3,268 | 189,871 |
27,573,099 | ||
Energy 2.3% | ||
Alon USA Energy, Inc. | 313,065 | 5,243,839 |
Cloud Peak Energy, Inc. *(a) | 95,161 | 282,628 |
Contango Oil & Gas Co. * | 39,908 | 305,296 |
Delek US Holdings, Inc. | 30,583 | 831,858 |
Exterran Holdings, Inc. | 29,659 | 644,787 |
Matrix Service Co. * | 57,590 | 1,307,293 |
Par Pacific Holdings, Inc. * | 51,044 | 1,163,803 |
Parker Drilling Co. * | 368,640 | 1,054,310 |
Pioneer Energy Services Corp. * | 459,778 | 1,062,087 |
Security | Number of Shares | Value ($) |
REX American Resources Corp. * | 49,182 | 2,700,584 |
TETRA Technologies, Inc. * | 17,608 | 118,678 |
14,715,163 | ||
Food & Staples Retailing 1.7% | ||
Ingles Markets, Inc., Class A | 14,855 | 741,859 |
SpartanNash, Co. | 216,909 | 6,051,761 |
SUPERVALU, Inc. * | 442,562 | 2,907,632 |
The Fresh Market, Inc. * | 15,659 | 390,222 |
Village Super Market, Inc., Class A | 24,752 | 620,285 |
10,711,759 | ||
Food, Beverage & Tobacco 3.0% | ||
Cal-Maine Foods, Inc. (a) | 86,409 | 4,619,425 |
Darling Ingredients, Inc. * | 177,360 | 1,794,883 |
Dean Foods Co. | 446,504 | 8,086,188 |
Fresh Del Monte Produce, Inc. | 20,444 | 932,860 |
John B. Sanfilippo & Son, Inc. | 30,010 | 1,942,247 |
National Beverage Corp. * | 7,759 | 292,049 |
Universal Corp. | 24,921 | 1,345,983 |
19,013,635 | ||
Health Care Equipment & Services 3.6% | ||
Alliance HealthCare Services, Inc. * | 8,250 | 69,795 |
AngioDynamics, Inc. * | 19,638 | 247,046 |
Cantel Medical Corp. | 1,824 | 108,127 |
CryoLife, Inc. | 7,332 | 77,279 |
Cynosure, Inc., Class A * | 7,020 | 264,233 |
Exactech, Inc. * | 14,757 | 251,312 |
Globus Medical, Inc., Class A * | 9,789 | 218,784 |
Greatbatch, Inc. * | 1,289 | 68,897 |
Hill-Rom Holdings, Inc. | 11,796 | 621,531 |
Integra LifeSciences Holdings Corp. * | 48,337 | 2,879,435 |
MedAssets, Inc. * | 77,518 | 1,835,626 |
Merit Medical Systems, Inc. * | 135,471 | 2,511,632 |
Molina Healthcare, Inc. * | 77,592 | 4,810,704 |
National HealthCare Corp. | 8,700 | 567,936 |
Natus Medical, Inc. * | 3,688 | 167,915 |
Quality Systems, Inc. | 151,310 | 2,125,905 |
RadNet, Inc. * | 393,735 | 2,602,588 |
RTI Surgical, Inc. * | 44,624 | 187,644 |
SurModics, Inc. * | 54,803 | 1,168,948 |
Triple-S Management Corp., Class B * | 80,389 | 1,655,210 |
22,440,547 | ||
Household & Personal Products 0.9% | ||
Central Garden & Pet Co., Class A * | 122,735 | 2,071,767 |
Natural Health Trends Corp. (a) | 5,632 | 277,432 |
USANA Health Sciences, Inc. * | 25,518 | 3,281,615 |
5,630,814 | ||
Insurance 2.9% | ||
American Equity Investment Life Holding Co. | 200,416 | 5,146,683 |
Employers Holdings, Inc. | 8,609 | 227,880 |
Fidelity & Guaranty Life | 36,495 | 974,417 |
Security | Number of Shares | Value ($) |
Maiden Holdings Ltd. | 421,358 | 6,552,117 |
National Western Life Group, Inc., Class A | 4,390 | 1,132,576 |
Selective Insurance Group, Inc. | 109,433 | 3,993,210 |
18,026,883 | ||
Materials 2.0% | ||
AEP Industries, Inc. * | 27,604 | 2,208,320 |
Century Aluminum Co. * | 460,547 | 1,667,180 |
Commercial Metals Co. | 35,272 | 506,859 |
Domtar Corp. | 46,924 | 1,935,146 |
Innospec, Inc. | 8,039 | 444,074 |
Koppers Holdings, Inc. | 52,425 | 993,978 |
SunCoke Energy, Inc. | 107,342 | 532,416 |
Trinseo S.A. *(a) | 128,666 | 4,175,212 |
12,463,185 | ||
Media 1.1% | ||
MSG Networks, Inc., Class A * | 93,375 | 1,916,055 |
Nexstar Broadcasting Group, Inc., Class A | 40,807 | 2,172,157 |
Sinclair Broadcast Group, Inc., Class A | 90,933 | 2,728,899 |
World Wrestling Entertainment, Inc., Class A (a) | 13,240 | 236,069 |
7,053,180 | ||
Pharmaceuticals, Biotechnology & Life Sciences 12.8% | ||
Acorda Therapeutics, Inc. * | 180,601 | 6,508,860 |
Aegerion Pharmaceuticals, Inc. *(a) | 91,188 | 1,338,640 |
Affymetrix, Inc. * | 13,859 | 127,503 |
AMAG Pharmaceuticals, Inc. * | 111,319 | 4,452,760 |
ANI Pharmaceuticals, Inc. * | 10,181 | 425,973 |
Array BioPharma, Inc. * | 25,504 | 130,580 |
Bio-Rad Laboratories, Inc., Class A * | 1,555 | 216,891 |
BioCryst Pharmaceuticals, Inc. * | 11,775 | 105,857 |
BioSpecifics Technologies Corp. * | 36,710 | 2,144,231 |
Cambrex Corp. * | 14,483 | 665,784 |
Catalent, Inc. * | 181,884 | 4,834,477 |
Concert Pharmaceuticals, Inc. * | 7,957 | 180,703 |
Depomed, Inc. * | 60,468 | 1,058,190 |
Dyax Corp. * | 6,180 | 170,135 |
Emergent Biosolutions, Inc. * | 228,573 | 7,348,622 |
Enanta Pharmaceuticals, Inc. * | 119,286 | 3,350,744 |
Halozyme Therapeutics, Inc. * | 96,020 | 1,502,713 |
INC Research Holdings, Inc., Class A * | 27,223 | 1,135,471 |
Infinity Pharmaceuticals, Inc. * | 301,770 | 3,123,319 |
Ligand Pharmaceuticals, Inc. * | 47,589 | 4,299,666 |
MiMedx Group, Inc. *(a) | 282,849 | 2,059,141 |
Momenta Pharmaceuticals, Inc. * | 55,237 | 906,439 |
Myriad Genetics, Inc. *(a) | 74,067 | 2,990,085 |
NewLink Genetics Corp. * | 45,280 | 1,732,866 |
Osiris Therapeutics, Inc. (a) | 137,017 | 2,333,400 |
PAREXEL International Corp. * | 19,105 | 1,205,908 |
PDL BioPharma, Inc. | 396,033 | 1,813,831 |
Pernix Therapeutics Holdings, Inc. *(a) | 242,133 | 680,394 |
Phibro Animal Health Corp., Class A | 118,344 | 3,947,956 |
Prestige Brands Holdings, Inc. * | 146,954 | 7,202,216 |
Security | Number of Shares | Value ($) |
Repligen Corp. * | 49,597 | 1,648,604 |
Retrophin, Inc. * | 10,287 | 196,790 |
SciClone Pharmaceuticals, Inc. * | 260,697 | 1,986,511 |
Spectrum Pharmaceuticals, Inc. * | 713,428 | 3,716,960 |
Sucampo Pharmaceuticals, Inc., Class A * | 117,155 | 2,268,121 |
Supernus Pharmaceuticals, Inc. * | 160,091 | 2,641,502 |
Vanda Pharmaceuticals, Inc. *(a) | 12,237 | 131,425 |
80,583,268 | ||
Real Estate 8.6% | ||
Agree Realty Corp. | 6,287 | 203,573 |
CBL & Associates Properties, Inc. | 61,435 | 895,722 |
CoreSite Realty Corp. | 149,916 | 8,237,884 |
CyrusOne, Inc. | 138,779 | 4,896,123 |
DuPont Fabros Technology, Inc. | 3,783 | 121,397 |
Empire State Realty Trust, Inc., Class A | 435,973 | 7,769,039 |
First Industrial Realty Trust, Inc. | 392,600 | 8,511,568 |
Highwoods Properties, Inc. | 60,743 | 2,639,284 |
Inland Real Estate Corp. | 129,962 | 1,150,164 |
Mack-Cali Realty Corp. | 270,282 | 5,881,336 |
Marcus & Millichap, Inc. * | 36,129 | 1,574,141 |
RE/MAX Holdings, Inc., Class A | 70,393 | 2,651,704 |
RLJ Lodging Trust | 8,570 | 215,021 |
Saul Centers, Inc. | 49,218 | 2,759,653 |
Summit Hotel Properties, Inc. | 472,701 | 6,182,929 |
Sunstone Hotel Investors, Inc. | 55,696 | 805,364 |
54,494,902 | ||
Retailing 4.5% | ||
1-800-Flowers.com, Inc., Class A * | 115,574 | 1,147,650 |
Aaron's, Inc. | 150,484 | 3,712,440 |
Build-A-Bear Workshop, Inc. * | 86,560 | 1,346,873 |
Chico's FAS, Inc. | 332,209 | 4,591,128 |
Citi Trends, Inc. | 35,131 | 933,431 |
Express, Inc. * | 110,118 | 2,125,277 |
Outerwall, Inc. (a) | 97,175 | 5,830,500 |
Rent-A-Center, Inc. | 219,964 | 4,045,138 |
Stage Stores, Inc. | 109,907 | 1,069,395 |
The Children's Place, Inc. | 60,283 | 3,235,389 |
Tilly's, Inc., Class A * | 79,209 | 577,434 |
28,614,655 | ||
Semiconductors & Semiconductor Equipment 2.5% | ||
Advanced Energy Industries, Inc. * | 55,857 | 1,579,636 |
Alpha & Omega Semiconductor Ltd. * | 12,475 | 110,778 |
Amkor Technology, Inc. * | 212,210 | 1,319,946 |
Cohu, Inc. | 196,436 | 2,473,129 |
Diodes, Inc. * | 13,034 | 298,479 |
FormFactor, Inc. * | 338,952 | 2,792,964 |
IXYS Corp. | 107,621 | 1,340,958 |
Microsemi Corp. * | 1,968 | 70,868 |
NeoPhotonics Corp. * | 20,423 | 168,898 |
Photronics, Inc. * | 205,088 | 1,966,794 |
Tessera Technologies, Inc. | 71,566 | 2,502,663 |
Xcerra Corp. * | 197,180 | 1,368,429 |
15,993,542 |
Security | Number of Shares | Value ($) |
Software & Services 9.2% | ||
ACI Worldwide, Inc. * | 67,641 | 1,620,002 |
AVG Technologies N.V. * | 135,942 | 3,221,825 |
Blackhawk Network Holdings, Inc. * | 84,876 | 3,614,020 |
BroadSoft, Inc. * | 35,331 | 1,129,532 |
Carbonite, Inc. * | 6,538 | 66,165 |
CSG Systems International, Inc. | 28,919 | 969,365 |
DHI Group, Inc. * | 341,856 | 3,093,797 |
EarthLink Holdings Corp. | 720,460 | 6,159,933 |
Endurance International Group Holdings, Inc. * | 90,413 | 1,205,205 |
Epiq Systems, Inc. | 65,465 | 903,417 |
Fair Isaac Corp. | 19,393 | 1,791,332 |
Gigamon, Inc. * | 46,866 | 1,229,295 |
Internap Corp. * | 20,226 | 136,728 |
Intralinks Holdings, Inc. * | 111,799 | 978,241 |
Liquidity Services, Inc. * | 117,511 | 962,415 |
Mentor Graphics Corp. | 79,257 | 2,155,790 |
MicroStrategy, Inc., Class A * | 28,369 | 4,881,454 |
Monster Worldwide, Inc. * | 600,831 | 3,767,210 |
NeuStar, Inc., Class A *(a) | 107,125 | 2,912,729 |
Progress Software Corp. * | 63,190 | 1,534,253 |
QAD, Inc., Class A | 34,750 | 887,515 |
QuinStreet, Inc. * | 33,965 | 188,506 |
Science Applications International Corp. | 90,924 | 4,169,775 |
Sykes Enterprises, Inc. * | 68,679 | 1,991,691 |
TeleCommunication Systems, Inc., Class A * | 104,770 | 428,509 |
United Online, Inc. * | 126,000 | 1,471,680 |
VASCO Data Security International, Inc. *(a) | 68,447 | 1,301,178 |
Web.com Group, Inc. * | 213,758 | 5,016,900 |
57,788,462 | ||
Technology Hardware & Equipment 6.8% | ||
Black Box Corp. | 27,486 | 335,604 |
Checkpoint Systems, Inc. | 107,715 | 805,708 |
Ciena Corp. * | 275,000 | 6,638,500 |
Diebold, Inc. | 89,059 | 3,283,605 |
Eastman Kodak Co. * | 7,598 | 95,127 |
Harmonic, Inc. * | 305,019 | 1,756,910 |
Insight Enterprises, Inc. * | 256,640 | 6,518,656 |
Lexmark International, Inc., Class A | 28,979 | 941,528 |
Methode Electronics, Inc. | 6,472 | 215,712 |
NETGEAR, Inc. * | 108,191 | 4,479,107 |
Newport Corp. * | 30,460 | 460,251 |
Polycom, Inc. * | 284,888 | 3,925,757 |
RealD, Inc. * | 43,986 | 447,338 |
Sanmina Corp. * | 144,726 | 2,991,486 |
SYNNEX Corp. | 48,516 | 4,290,755 |
Tech Data Corp. * | 63,989 | 4,657,759 |
TTM Technologies, Inc. * | 23,921 | 174,623 |
Vishay Intertechnology, Inc. | 102,105 | 1,082,313 |
43,100,739 | ||
Telecommunication Services 1.2% | ||
General Communication, Inc., Class A * | 162,837 | 3,316,176 |
Hawaiian Telcom Holdco, Inc. * | 5,948 | 135,733 |
Security | Number of Shares | Value ($) |
IDT Corp., Class B | 160,719 | 2,081,311 |
Inteliquent, Inc. | 47,185 | 977,673 |
Spok Holdings, Inc. | 38,190 | 688,566 |
Vonage Holdings Corp. * | 60,400 | 366,628 |
7,566,087 | ||
Transportation 4.2% | ||
Air Transport Services Group, Inc. * | 241,571 | 2,364,980 |
ArcBest Corp. | 80,283 | 2,079,330 |
Atlas Air Worldwide Holdings, Inc. * | 51,684 | 2,131,448 |
Hawaiian Holdings, Inc. * | 222,027 | 7,704,337 |
Matson, Inc. | 118,271 | 5,420,360 |
P.A.M. Transportation Services, Inc. * | 2,595 | 92,667 |
Park-Ohio Holdings Corp. | 17,697 | 610,547 |
Virgin America, Inc. * | 33,277 | 1,184,994 |
YRC Worldwide, Inc. * | 251,369 | 4,589,998 |
26,178,661 | ||
Utilities 1.1% | ||
American States Water Co. | 45,798 | 1,866,269 |
Atlantic Power Corp. | 71,803 | 146,478 |
Consolidated Water Co., Ltd. | 16,109 | 178,327 |
Southwest Gas Corp. | 81,640 | 5,017,594 |
7,208,668 | ||
Total Common Stock | ||
(Cost $610,767,482) | 628,545,352 | |
Other Investment Company 4.9% of net assets | ||
Securities Lending Collateral 4.9% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (b) | 30,521,443 | 30,521,443 |
Total Other Investment Company | ||
(Cost $30,521,443) | 30,521,443 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.1% of net assets | ||
Time Deposits 0.1% | ||
Sumitomo Mitsui Banking Corp. | ||
0.03%, 11/02/15 | 831,079 | 831,079 |
Total Short-Term Investment | ||
(Cost $831,079) | 831,079 |
At 10/31/15, the tax basis cost of the fund's investments was $642,490,561 and the unrealized appreciation and depreciation were $80,270,566 and ($62,863,253), respectively, with a net unrealized appreciation of $17,407,313.
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $29,735,390. |
(b) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/18/15 | 5 | 579,150 | 2,090 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $628,545,352 | $— | $— | $628,545,352 | |||||
Other Investment Company | 30,521,443 | — | — | 30,521,443 | |||||
Short-Term Investment1 | — | 831,079 | — | 831,079 | |||||
Total | $659,066,795 | $831,079 | $— | $659,897,874 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $2,090 | $— | $— | $2,090 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of portfolio holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $611,598,561) including securities on loan of $29,735,390 | $629,376,431 | |
Collateral invested for securities on loan, at value (cost $30,521,443) | + | 30,521,443 |
Total investments, at value (cost $642,120,004) | 659,897,874 | |
Deposit with broker for futures contracts | 1,902,300 | |
Receivables: | ||
Fund shares sold | 419,406 | |
Dividends | 167,381 | |
Income from securities on loan | 69,284 | |
Foreign tax reclaims | 312 | |
Prepaid expenses | + | 20,062 |
Total assets | 662,476,619 | |
Liabilities | ||
Collateral held for securities on loan | 30,521,443 | |
Payables: | ||
Investment adviser and administrator fees | 84,400 | |
Shareholder service fees | 29,219 | |
Fund shares redeemed | 1,389,697 | |
Variation margin on futures contracts | 1,300 | |
Accrued expenses | + | 86,259 |
Total liabilities | 32,112,318 | |
Net Assets | ||
Total assets | 662,476,619 | |
Total liabilities | – | 32,112,318 |
Net assets | $630,364,301 | |
Net Assets by Source | ||
Capital received from investors | 537,069,209 | |
Net investment income not yet distributed | 881,488 | |
Net realized capital gains | 74,633,644 | |
Net unrealized capital appreciation | 17,779,960 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$630,364,301 | 29,753,369 | $21.19 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $6,684) | $7,916,635 | |
Interest | 2,005 | |
Securities on loan | + | 876,874 |
Total investment income | 8,795,514 | |
Expenses | ||
Investment adviser and administrator fees | 5,456,212 | |
Shareholder service fees | 1,651,725 | |
Portfolio accounting fees | 56,546 | |
Custodian fees | 36,507 | |
Professional fees | 35,648 | |
Registration fees | 35,088 | |
Shareholder reports | 31,710 | |
Transfer agent fees | 28,344 | |
Independent trustees' fees | 10,067 | |
Proxy fees | 9,764 | |
Interest expense | 24 | |
Other expenses | + | 15,782 |
Total expenses | 7,367,417 | |
Expense reduction by CSIM and its affiliates | – | 28,344 |
Net expenses | – | 7,339,073 |
Net investment income | 1,456,441 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 74,802,235 | |
Net realized gains on futures contracts | + | 329,605 |
Net realized gains | 75,131,840 | |
Net change in unrealized appreciation (depreciation) on investments | (54,080,433) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (103,401) |
Net change in unrealized appreciation (depreciation) | + | (54,183,834) |
Net realized and unrealized gains | 20,948,006 | |
Increase in net assets resulting from operations | $22,404,447 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income (loss) | $1,456,441 | ($620,550) | |
Net realized gains | 75,131,840 | 125,071,693 | |
Net change in unrealized appreciation (depreciation) | + | (54,183,834) | (55,511,789) |
Increase in net assets from operations | 22,404,447 | 68,939,354 | |
Distributions to Shareholders | |||
Distributions from net investment income | (501,780) | (1,598,911) | |
Distributions from net realized gains | + | (122,791,233) | (56,889,199) |
Total distributions | ($123,293,013) | ($58,488,110) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 6,541,101 | $141,989,885 | 7,201,760 | $173,508,919 | |
Shares reinvested | 4,347,908 | 90,523,445 | 1,076,328 | 24,841,650 | |
Shares redeemed | + | (7,655,131) | (167,260,267) | (5,496,700) | (133,118,038) |
Net transactions in fund shares | 3,233,878 | $65,253,063 | 2,781,388 | $65,232,531 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 26,519,491 | $665,999,804 | 23,738,103 | $590,316,029 | |
Total increase or decrease | + | 3,233,878 | (35,635,503) | 2,781,388 | 75,683,775 |
End of period | 29,753,369 | $630,364,301 | 26,519,491 | $665,999,804 | |
Net investment income not yet distributed | $881,488 | $65,851 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $19.02 | $18.62 | $16.36 | $15.32 | $14.79 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | (0.01) 1 | (0.08) | (0.10) | (0.08) | (0.05) | |
Net realized and unrealized gains (losses) | 0.89 | 1.99 | 2.36 | 1.12 | 0.58 | |
Total from investment operations | 0.88 | 1.91 | 2.26 | 1.04 | 0.53 | |
Less distributions: | ||||||
Distributions from net realized gains | (2.44) | (1.51) | — | — | — | |
Net asset value at end of period | $17.46 | $19.02 | $18.62 | $16.36 | $15.32 | |
Total return | 4.84% | 11.07% | 13.81% | 6.79% | 3.58% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses (including dividend expense on short sales) | 1.82% | 1.99% | 2.48% | 2.08% | 1.86% | |
Net operating expenses (excluding dividend expense on short sales) | 1.54 2 | 1.52 2 | 1.48 2 | 1.53 2 | 1.44 3 | |
Gross operating expenses | 1.84% | 2.02% | 2.52% | 2.13% | 1.88% | |
Net investment income (loss) | (0.06%) | (0.46%) | (0.49%) | (0.47%) | (0.25%) | |
Portfolio turnover rate | 146% | 142% | 130% | 109% | 98% | |
Net assets, end of period (x 1,000,000) | $212 | $200 | $193 | $194 | $236 | |
Holdings by Category | Cost ($) | Value ($) | |
98.5% | Common Stock | 197,408,536 | 208,478,108 |
1.4% | Other Investment Company | 2,871,884 | 2,871,884 |
99.9% | Total Investments | 200,280,420 | 211,349,992 |
(37.2%) | Short Sales | (84,992,534) | (78,729,912) |
37.3% | Other Assets and Liabilities, Net | 78,910,003 | |
100.0% | Net Assets | 211,530,083 |
Security | Number of Shares | Value ($) |
Common Stock 98.5% of net assets | ||
Automobiles & Components 1.1% | ||
American Axle & Manufacturing Holdings, Inc. * | 102,518 | 2,271,799 |
Banks 8.3% | ||
Bank of America Corp. | 172,127 | 2,888,291 |
Citigroup, Inc. (a) | 103,361 | 5,495,705 |
Fifth Third Bancorp | 49,566 | 944,232 |
MGIC Investment Corp. * | 158,548 | 1,490,351 |
Radian Group, Inc. | 202,790 | 2,934,371 |
Regions Financial Corp. (a) | 239,500 | 2,239,325 |
The PNC Financial Services Group, Inc. (a) | 18,477 | 1,667,734 |
17,660,009 | ||
Capital Goods 5.6% | ||
Aerojet Rocketdyne Holdings, Inc. * | 25,514 | 432,207 |
Allison Transmission Holdings, Inc. | 67,679 | 1,942,387 |
Cubic Corp. | 49,489 | 2,219,582 |
Huntington Ingalls Industries, Inc. (a) | 19,529 | 2,342,308 |
Kaman Corp. | 32,246 | 1,254,047 |
Spirit AeroSystems Holdings, Inc., Class A *(a) | 69,286 | 3,654,144 |
11,844,675 | ||
Commercial & Professional Supplies 2.1% | ||
Pitney Bowes, Inc. | 14,400 | 297,360 |
R.R. Donnelley & Sons Co. (a) | 241,955 | 4,081,781 |
4,379,141 |
Security | Number of Shares | Value ($) |
Consumer Durables & Apparel 2.1% | ||
Carter's, Inc. | 643 | 58,436 |
NIKE, Inc., Class B (a) | 17,601 | 2,306,259 |
Wolverine World Wide, Inc. (a) | 113,495 | 2,107,602 |
4,472,297 | ||
Consumer Services 2.5% | ||
Bloomin' Brands, Inc. | 26,374 | 447,567 |
Darden Restaurants, Inc. | 9,776 | 605,037 |
Houghton Mifflin Harcourt Co. * | 109,457 | 2,144,263 |
Penn National Gaming, Inc. * | 27,684 | 494,436 |
ServiceMaster Global Holdings, Inc. * | 44,953 | 1,602,574 |
5,293,877 | ||
Diversified Financials 3.8% | ||
Interactive Brokers Group, Inc., Class A (a) | 81,199 | 3,340,527 |
Lazard Ltd., Class A | 30,339 | 1,405,302 |
Voya Financial, Inc. (a) | 79,310 | 3,217,607 |
7,963,436 | ||
Energy 6.3% | ||
Alon USA Energy, Inc. | 14,213 | 238,068 |
Anadarko Petroleum Corp. | 13,046 | 872,516 |
CVR Energy, Inc. (a) | 77,231 | 3,433,690 |
Devon Energy Corp. | 36,120 | 1,514,512 |
EOG Resources, Inc. (a) | 2,781 | 238,749 |
Marathon Petroleum Corp. | 12,616 | 653,509 |
Pioneer Energy Services Corp. * | 88,389 | 204,179 |
Schlumberger Ltd. | 8,341 | 651,932 |
Tesoro Corp. | 7,046 | 753,429 |
Valero Energy Corp. (a) | 65,782 | 4,336,349 |
Western Refining, Inc. | 8,665 | 360,637 |
13,257,570 | ||
Food & Staples Retailing 2.4% | ||
SpartanNash, Co. | 27,956 | 779,973 |
SUPERVALU, Inc. * | 144,621 | 950,160 |
The Kroger Co. (a) | 86,874 | 3,283,837 |
5,013,970 | ||
Food, Beverage & Tobacco 5.7% | ||
Bunge Ltd. (a) | 42,727 | 3,117,362 |
Dean Foods Co. | 213,688 | 3,869,890 |
Dr Pepper Snapple Group, Inc. | 12,752 | 1,139,646 |
Ingredion, Inc. | 2,864 | 272,252 |
Universal Corp. | 67,924 | 3,668,575 |
12,067,725 | ||
Health Care Equipment & Services 6.2% | ||
AmerisourceBergen Corp. | 12,182 | 1,175,685 |
C.R. Bard, Inc. | 7,600 | 1,416,260 |
Cardinal Health, Inc. (a) | 26,944 | 2,214,797 |
Community Health Systems, Inc. * | 9,171 | 257,155 |
Hologic, Inc. * | 8,298 | 322,460 |
Kindred Healthcare, Inc. | 30,210 | 404,814 |
Security | Number of Shares | Value ($) |
McKesson Corp. | 10,596 | 1,894,565 |
Molina Healthcare, Inc. *(a) | 52,434 | 3,250,908 |
Owens & Minor, Inc. | 64,490 | 2,311,966 |
13,248,610 | ||
Household & Personal Products 0.6% | ||
Spectrum Brands Holdings, Inc. (a) | 14,220 | 1,362,987 |
Insurance 3.3% | ||
American Equity Investment Life Holding Co. (a) | 64,638 | 1,659,904 |
Genworth Financial, Inc., Class A *(a) | 82,885 | 387,902 |
MetLife, Inc. | 27,302 | 1,375,475 |
Reinsurance Group of America, Inc. (a) | 39,434 | 3,558,524 |
6,981,805 | ||
Materials 4.9% | ||
Century Aluminum Co. * | 93,371 | 338,003 |
H.B. Fuller Co. | 29,603 | 1,124,618 |
Innospec, Inc. | 29,250 | 1,615,770 |
International Paper Co. (a) | 79,436 | 3,391,123 |
LyondellBasell Industries N.V., Class A | 11,528 | 1,071,067 |
Nucor Corp. | 43,861 | 1,855,320 |
Steel Dynamics, Inc. | 50,087 | 925,107 |
10,321,008 | ||
Media 1.3% | ||
Nexstar Broadcasting Group, Inc., Class A | 48,646 | 2,589,426 |
The Interpublic Group of Cos., Inc. | 6,787 | 155,626 |
2,745,052 | ||
Pharmaceuticals, Biotechnology & Life Sciences 6.5% | ||
AbbVie, Inc. | 22,239 | 1,324,333 |
Amgen, Inc. (a) | 27,185 | 4,300,123 |
Celgene Corp. *(a) | 8,372 | 1,027,328 |
Emergent Biosolutions, Inc. * | 24,464 | 786,518 |
Gilead Sciences, Inc. (a) | 26,378 | 2,852,253 |
Pfizer, Inc. (a) | 100,450 | 3,397,219 |
13,687,774 | ||
Real Estate 1.7% | ||
CoreSite Realty Corp. | 5,418 | 297,719 |
First Industrial Realty Trust, Inc. | 111,613 | 2,419,770 |
Lamar Advertising Co., Class A | 7,419 | 418,654 |
Simon Property Group, Inc. | 2,696 | 543,136 |
3,679,279 | ||
Retailing 9.8% | ||
Aaron's, Inc. | 52,039 | 1,283,802 |
Amazon.com, Inc. *(a) | 9,662 | 6,047,446 |
Best Buy Co., Inc. | 33,300 | 1,166,499 |
Chico's FAS, Inc. | 65,288 | 902,280 |
Groupon, Inc. * | 174,318 | 646,720 |
Lowe's Cos., Inc. | 1,291 | 95,314 |
Macy's, Inc. (a) | 12,717 | 648,313 |
Outerwall, Inc. (a) | 61,171 | 3,670,260 |
Security | Number of Shares | Value ($) |
Rent-A-Center, Inc. | 121,412 | 2,232,767 |
Staples, Inc. | 49,186 | 638,926 |
The Children's Place, Inc. | 21,948 | 1,177,949 |
The Gap, Inc. (a) | 80,872 | 2,201,336 |
20,711,612 | ||
Semiconductors & Semiconductor Equipment 1.9% | ||
Cirrus Logic, Inc. * | 39,646 | 1,222,286 |
Microsemi Corp. * | 26,148 | 941,589 |
Teradyne, Inc. | 56,574 | 1,104,325 |
Tessera Technologies, Inc. | 19,723 | 689,713 |
3,957,913 | ||
Software & Services 8.7% | ||
Computer Sciences Corp. (a) | 59,252 | 3,945,591 |
Convergys Corp. | 32,016 | 821,851 |
Electronic Arts, Inc. *(a) | 53,354 | 3,845,223 |
Leidos Holdings, Inc. | 52,719 | 2,771,438 |
LogMeIn, Inc. * | 6,296 | 424,098 |
Microsoft Corp. (a) | 10,448 | 549,983 |
NeuStar, Inc., Class A * | 5,355 | 145,602 |
Progress Software Corp. * | 55,561 | 1,349,021 |
Rackspace Hosting, Inc. * | 44,072 | 1,139,261 |
Science Applications International Corp. (a) | 52,772 | 2,420,124 |
Web.com Group, Inc. * | 44,592 | 1,046,574 |
18,458,766 | ||
Technology Hardware & Equipment 8.9% | ||
Apple, Inc. (a) | 74,368 | 8,886,976 |
Ciena Corp. * | 88,221 | 2,129,655 |
Cisco Systems, Inc. | 75,720 | 2,184,522 |
Hewlett-Packard Co. (a) | 43,038 | 1,160,304 |
Ingram Micro, Inc., Class A | 23,679 | 705,161 |
Insight Enterprises, Inc. * | 5,304 | 134,722 |
Jabil Circuit, Inc. | 58,456 | 1,343,319 |
NETGEAR, Inc. * | 13,641 | 564,737 |
Polycom, Inc. * | 124,893 | 1,721,025 |
18,830,421 | ||
Transportation 2.6% | ||
ArcBest Corp. | 9,592 | 248,433 |
Delta Air Lines, Inc. | 51,765 | 2,631,733 |
Hawaiian Holdings, Inc. * | 48,559 | 1,684,997 |
United Continental Holdings, Inc. * | 16,190 | 976,419 |
5,541,582 | ||
Utilities 2.2% | ||
AES Corp. (a) | 88,810 | 972,470 |
Edison International | 2,273 | 137,562 |
Entergy Corp. (a) | 48,656 | 3,316,393 |
Exelon Corp. | 2,632 | 73,485 |
NRG Energy, Inc. | 17,602 | 226,890 |
4,726,800 | ||
Total Common Stock | ||
(Cost $197,408,536) | 208,478,108 | |
Security | Number of Shares | Value ($) |
Other Investment Company 1.4% of net assets | ||
Money Market Fund 1.4% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (b) | 2,871,884 | 2,871,884 |
Total Other Investment Company | ||
(Cost $2,871,884) | 2,871,884 |
* | Non-income producing security. |
(a) | All or a portion of this security is held as collateral for short sales |
(b) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 20 | 2,073,700 | 158,162 |
Security | Number of Shares | Value ($) |
Short Sales 37.2% of net assets | ||
Automobiles & Components 1.4% | ||
Dorman Products, Inc. * | 17,200 | 802,896 |
Tesla Motors, Inc. * | 10,565 | 2,186,215 |
2,989,111 | ||
Banks 1.7% | ||
BofI Holding, Inc. * | 3,575 | 286,036 |
Signature Bank * | 7,200 | 1,072,224 |
Texas Capital Bancshares, Inc. * | 39,231 | 2,165,551 |
3,523,811 | ||
Capital Goods 2.5% | ||
Air Lease Corp. | 50,224 | 1,693,051 |
Hexcel Corp. | 53,065 | 2,457,971 |
Proto Labs, Inc. * | 16,200 | 1,050,408 |
SolarCity Corp. * | 6,200 | 183,830 |
5,385,260 | ||
Consumer Durables & Apparel 1.3% | ||
Under Armour, Inc., Class A * | 28,200 | 2,681,256 |
Consumer Services 1.5% | ||
Chipotle Mexican Grill, Inc. * | 414 | 265,055 |
MGM Resorts International * | 51,775 | 1,200,662 |
Wynn Resorts Ltd. | 24,283 | 1,698,596 |
3,164,313 | ||
Diversified Financials 0.5% | ||
Financial Engines, Inc. | 27,349 | 879,544 |
Virtus Investment Partners, Inc. | 1,300 | 152,152 |
1,031,696 | ||
Energy 3.9% | ||
Cheniere Energy, Inc. * | 42,126 | 2,086,080 |
Cobalt International Energy, Inc. * | 108,600 | 832,962 |
Concho Resources, Inc. * | 9,641 | 1,117,488 |
Diamondback Energy, Inc. * | 36,972 | 2,730,012 |
Golar LNG Ltd. | 46,791 | 1,357,407 |
RSP Permian, Inc. * | 2,243 | 61,503 |
8,185,452 | ||
Food, Beverage & Tobacco 1.6% | ||
Keurig Green Mountain, Inc. | 15,469 | 785,052 |
Monster Beverage Corp. * | 17,558 | 2,393,507 |
The WhiteWave Foods Co. * | 4,841 | 198,384 |
3,376,943 | ||
Health Care Equipment & Services 0.9% | ||
Acadia Healthcare Co., Inc. * | 17,306 | 1,062,761 |
IDEXX Laboratories, Inc. * | 2,813 | 193,028 |
Nevro Corp. * | 13,518 | 551,129 |
1,806,918 |
Security | Number of Shares | Value ($) |
Insurance 2.0% | ||
Mercury General Corp. | 30,269 | 1,634,829 |
RLI Corp. | 30,736 | 1,870,285 |
White Mountains Insurance Group Ltd. | 807 | 637,530 |
4,142,644 | ||
Materials 3.7% | ||
Albemarle Corp. | 7,544 | 403,755 |
CF Industries Holdings, Inc. | 9,921 | 503,689 |
FMC Corp. | 25,530 | 1,039,326 |
Louisiana-Pacific Corp. * | 164,208 | 2,899,913 |
Martin Marietta Materials, Inc. | 3,548 | 550,472 |
Southern Copper Corp. | 85,956 | 2,386,139 |
7,783,294 | ||
Media 0.5% | ||
DreamWorks Animation SKG, Inc., Class A * | 39,400 | 797,456 |
Loral Space & Communications, Inc. * | 5,400 | 241,434 |
1,038,890 | ||
Real Estate 0.6% | ||
The Howard Hughes Corp. * | 11,038 | 1,364,076 |
Retailing 7.6% | ||
Cabela's, Inc. * | 59,788 | 2,341,896 |
CarMax, Inc. * | 24,665 | 1,455,482 |
Dollar Tree, Inc. * | 19,955 | 1,306,853 |
Lithia Motors, Inc., Class A | 9,837 | 1,154,765 |
Netflix, Inc. * | 18,257 | 1,978,694 |
Restoration Hardware Holdings, Inc. * | 16,263 | 1,676,553 |
Signet Jewelers Ltd. | 3,561 | 537,497 |
The Priceline Group, Inc. * | 746 | 1,084,863 |
TripAdvisor, Inc. * | 23,203 | 1,943,947 |
Ulta Salon, Cosmetics & Fragrance, Inc. * | 15,253 | 2,653,412 |
16,133,962 | ||
Semiconductors & Semiconductor Equipment 1.6% | ||
Ambarella, Inc. * | 5,371 | 265,542 |
Cree, Inc. * | 12,662 | 318,956 |
SunEdison, Inc. * | 48,000 | 350,400 |
SunPower Corp. * | 94,858 | 2,545,989 |
3,480,887 | ||
Software & Services 4.1% | ||
Benefitfocus, Inc. * | 8,494 | 271,468 |
Demandware, Inc. * | 9,489 | 538,026 |
Globant S.A. * | 31,040 | 1,073,053 |
Splunk, Inc. * | 23,170 | 1,301,227 |
Syntel, Inc. * | 38,099 | 1,792,177 |
Tableau Software, Inc., Class A * | 8,446 | 709,126 |
The Ultimate Software Group, Inc. * | 7,414 | 1,515,051 |
Workday, Inc., Class A * | 6,212 | 490,562 |
Zillow Group, Inc., Class C * | 39,466 | 1,092,814 |
8,783,504 |
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment 0.3% | ||
Cray, Inc. * | 10,178 | 301,574 |
Stratasys Ltd. * | 10,431 | 265,991 |
567,565 | ||
Transportation 1.3% | ||
Kansas City Southern | 1,360 | 112,554 |
Kirby Corp. * | 15,500 | 1,011,995 |
Spirit Airlines, Inc. * | 46,502 | 1,726,154 |
2,850,703 |
Security | Number of Shares | Value ($) |
Utilities 0.2% | ||
MDU Resources Group, Inc. | 23,310 | 439,627 |
Total Short Sales | ||
(Proceeds $84,992,534) | 78,729,912 |
* | Non-income producing security |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $208,478,108 | $— | $— | $208,478,108 | |||||
Other Investment Company1 | 2,871,884 | — | — | 2,871,884 | |||||
Total | $211,349,992 | $— | $— | $211,349,992 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $158,162 | $— | $— | $158,162 | |||||
Liabilities Valuation Input | |||||||||
Other Financial Instruments | |||||||||
Short Sales1 | ($78,729,912) | $— | $— | ($78,729,912) |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of portfolio holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $200,280,420) | $211,349,992 | |
Deposits with brokers for short sales and futures contracts | 79,103,262 | |
Receivables: | ||
Investments sold | 2,273,985 | |
Fund shares sold | 373,686 | |
Dividends | 95,594 | |
Prepaid expenses | + | 17,649 |
Total assets | 293,214,168 | |
Liabilities | ||
Securities sold short, at value (proceeds $84,992,534) | 78,729,912 | |
Payables: | ||
Investments bought | 2,580,711 | |
Investment adviser and administrator fees | 36,917 | |
Shareholder service fees | 7,595 | |
Fund shares redeemed | 262,855 | |
Dividends on short sales | 12,103 | |
Variation margin on futures contracts | 9,300 | |
Accrued expenses | + | 44,692 |
Total liabilities | 81,684,085 | |
Net Assets | ||
Total assets | 293,214,168 | |
Total liabilities | – | 81,684,085 |
Net assets | $211,530,083 | |
Net Assets by Source | ||
Capital received from investors | 175,080,262 | |
Net realized capital gains | 18,959,465 | |
Net unrealized capital appreciation | 17,490,356 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$211,530,083 | 12,117,864 | $17.46 | ||
Investment Income | ||
Dividends | $3,610,485 | |
Interest | + | 10 |
Total investment income | 3,610,495 | |
Expenses | ||
Investment adviser and administrator fees | 2,156,319 | |
Shareholder service fees | 456,427 | |
Dividends on short sales | 572,727 | |
Stock loan fees on short sales | 421,045 | |
Transfer agent fees | 46,394 | |
Professional fees | 37,598 | |
Portfolio accounting fees | 35,541 | |
Custodian fees | 13,237 | |
Registration fees | 13,093 | |
Shareholder reports | 10,804 | |
Independent trustees' fees | 7,811 | |
Proxy fees | 2,067 | |
Interest expense | 754 | |
Other expenses | + | 10,356 |
Total expenses | 3,784,173 | |
Expense reduction by CSIM and its affiliates | – | 56,280 |
Net expenses | – | 3,727,893 |
Net investment loss | (117,398) | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 20,557,705 | |
Net realized gains on futures contracts | 46,016 | |
Net realized losses on short sales | + | (234,397) |
Net realized gains | 20,369,324 | |
Net change in unrealized appreciation (depreciation) on investments | (18,974,868) | |
Net change in unrealized appreciation (depreciation) on futures contracts | 158,162 | |
Net change in unrealized appreciation (depreciation) on short sales | + | 8,273,071 |
Net change in unrealized appreciation (depreciation) | + | (10,543,635) |
Net realized and unrealized gains | 9,825,689 | |
Increase in net assets resulting from operations | $9,708,291 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment loss | ($117,398) | ($866,306) | |
Net realized gains | 20,369,324 | 25,464,367 | |
Net change in unrealized appreciation (depreciation) | + | (10,543,635) | (4,709,147) |
Increase in net assets from operations | 9,708,291 | 19,888,914 | |
Distributions to Shareholders | |||
Distributions from net realized gains | ($25,864,727) | ($15,225,593) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 4,578,084 | $79,572,795 | 2,013,414 | $36,941,019 | |
Shares reinvested | 1,327,636 | 22,755,673 | 781,617 | 13,490,717 | |
Shares redeemed | + | (4,308,474) | (74,705,072) | (2,622,388) | (47,702,546) |
Net transactions in fund shares | 1,597,246 | $27,623,396 | 172,643 | $2,729,190 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 10,520,618 | $200,063,123 | 10,347,975 | $192,670,612 | |
Total increase | + | 1,597,246 | 11,466,960 | 172,643 | 7,392,511 |
End of period | 12,117,864 | $211,530,083 | 10,520,618 | $200,063,123 | |
Net investment loss | $— | ($2,468,247) |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.82 | $13.76 | $10.66 | $9.17 | $9.74 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.20 1 | 0.11 | 0.11 | 0.08 | 0.05 | |
Net realized and unrealized gains (losses) | 0.23 | 2.07 | 3.08 | 1.46 | (0.58) | |
Total from investment operations | 0.43 | 2.18 | 3.19 | 1.54 | (0.53) | |
Less distributions: | ||||||
Distributions from net investment income | (0.13) | (0.12) | (0.09) | (0.05) | (0.04) | |
Net asset value at end of period | $16.12 | $15.82 | $13.76 | $10.66 | $9.17 | |
Total return | 2.70% | 15.92% | 30.20% | 16.92% | (5.51%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.90% | 0.90% | 0.94% | 0.94% | 0.93% 2 | |
Gross operating expenses | 0.94% | 0.95% | 1.03% | 1.10% | 1.06% | |
Net investment income (loss) | 1.23% | 0.76% | 0.91% | 0.78% | 0.45% | |
Portfolio turnover rate | 53% | 75% | 74% | 84% | 77% | |
Net assets, end of period (x 1,000,000) | $75 | $78 | $66 | $47 | $40 | |
Holdings by Category | Cost ($) | Value ($) | |
98.8% | Common Stock | 62,535,905 | 73,792,857 |
1.0% | Short-Term Investment | 753,779 | 753,779 |
99.8% | Total Investments | 63,289,684 | 74,546,636 |
0.2% | Other Assets and Liabilities, Net | 164,472 | |
100.0% | Net Assets | 74,711,108 |
Security | Number of Shares | Value ($) |
Common Stock 98.8% of net assets | ||
Banks 34.8% | ||
1st Source Corp. | 3,683 | 116,972 |
Banc of California, Inc. | 61,839 | 806,381 |
Bank of America Corp. | 235,905 | 3,958,486 |
Citigroup, Inc. | 72,008 | 3,828,665 |
Citizens Financial Group, Inc. | 15,008 | 364,694 |
Federal Agricultural Mortgage Corp., Class C | 6,910 | 202,878 |
Fifth Third Bancorp | 55,299 | 1,053,446 |
First Bancorp (North Carolina) | 6,208 | 115,034 |
First Defiance Financial Corp. | 3,308 | 126,696 |
Horizon Bancorp | 13,984 | 364,982 |
Huntington Bancshares, Inc. | 69,000 | 756,930 |
JPMorgan Chase & Co. | 66,860 | 4,295,755 |
KeyCorp | 29,818 | 370,340 |
Lakeland Bancorp, Inc. | 5,457 | 63,465 |
MGIC Investment Corp. * | 72,174 | 678,436 |
Radian Group, Inc. | 77,148 | 1,116,332 |
Regions Financial Corp. | 82,500 | 771,375 |
SunTrust Banks, Inc. | 23,954 | 994,570 |
The PNC Financial Services Group, Inc. | 18,379 | 1,658,888 |
Wells Fargo & Co. | 80,399 | 4,352,802 |
25,997,127 | ||
Diversified Financials 27.0% | ||
Affiliated Managers Group, Inc. * | 5,140 | 926,536 |
Ally Financial, Inc. * | 66,618 | 1,327,031 |
Ameriprise Financial, Inc. | 12,966 | 1,495,758 |
Berkshire Hathaway, Inc., Class B * | 30,398 | 4,134,736 |
Calamos Asset Management, Inc., Class A | 33,022 | 310,077 |
Capital One Financial Corp. | 17,678 | 1,394,794 |
Cash America International, Inc. | 2,233 | 77,105 |
Discover Financial Services | 28,198 | 1,585,291 |
Security | Number of Shares | Value ($) |
Evercore Partners, Inc., Class A | 8,690 | 469,260 |
Interactive Brokers Group, Inc., Class A | 12,338 | 507,585 |
Janus Capital Group, Inc. | 41,773 | 648,735 |
Lazard Ltd., Class A | 21,783 | 1,008,989 |
MarketAxess Holdings, Inc. | 443 | 44,880 |
Morgan Stanley | 49,500 | 1,632,015 |
Nasdaq, Inc. | 1,507 | 87,240 |
Navient Corp. | 14,501 | 191,268 |
Nelnet, Inc., Class A | 14,868 | 531,977 |
Santander Consumer USA Holdings, Inc. * | 24,472 | 440,741 |
SEI Investments Co. | 5,250 | 272,055 |
The Goldman Sachs Group, Inc. | 8,410 | 1,576,875 |
Voya Financial, Inc. | 36,147 | 1,466,484 |
20,129,432 | ||
Insurance 14.8% | ||
American Equity Investment Life Holding Co. | 38,081 | 977,920 |
American Financial Group, Inc. | 10,110 | 729,841 |
American International Group, Inc. | 7,943 | 500,886 |
Assured Guaranty Ltd. | 46,050 | 1,263,612 |
Heritage Insurance Holdings, Inc. * | 6,055 | 133,937 |
Lincoln National Corp. | 5,309 | 284,085 |
Maiden Holdings Ltd. | 77,675 | 1,207,846 |
MetLife, Inc. | 55,976 | 2,820,071 |
Reinsurance Group of America, Inc. | 20,492 | 1,849,198 |
Selective Insurance Group, Inc. | 19,696 | 718,707 |
The Travelers Cos., Inc. | 5,168 | 583,415 |
11,069,518 | ||
Real Estate 22.2% | ||
AvalonBay Communities, Inc. | 2,301 | 402,284 |
Brixmor Property Group, Inc. | 39,211 | 1,004,586 |
CBRE Group, Inc., Class A * | 26,778 | 998,284 |
CoreSite Realty Corp. | 20,656 | 1,135,047 |
CyrusOne, Inc. | 5,988 | 211,257 |
Duke Realty Corp. | 26,593 | 550,475 |
Empire State Realty Trust, Inc., Class A | 45,508 | 810,953 |
Equity LifeStyle Properties, Inc. | 27,928 | 1,689,085 |
Equity Residential | 9,112 | 704,540 |
First Industrial Realty Trust, Inc. | 62,791 | 1,361,309 |
General Growth Properties, Inc. | 7,889 | 228,386 |
Highwoods Properties, Inc. | 2,234 | 97,067 |
Lamar Advertising Co., Class A | 16,211 | 914,787 |
Liberty Property Trust | 6,378 | 216,980 |
Marcus & Millichap, Inc. * | 1,992 | 86,791 |
RE/MAX Holdings, Inc., Class A | 6,139 | 231,256 |
Saul Centers, Inc. | 5,907 | 331,205 |
Simon Property Group, Inc. | 15,348 | 3,092,008 |
SL Green Realty Corp. | 7,424 | 880,635 |
Summit Hotel Properties, Inc. | 84,736 | 1,108,347 |
Ventas, Inc. | 10,080 | 541,498 |
16,596,780 | ||
Total Common Stock | ||
(Cost $62,535,905) | 73,792,857 |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 1.0% of net assets | ||
Time Deposit 1.0% | ||
Sumitomo Mitsui Banking Corp. | ||
0.03%, 11/02/15 | 753,779 | 753,779 |
Total Short-Term Investment | ||
(Cost $753,779) | 753,779 |
* | Non-income producing security. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 5 | 518,425 | 30,880 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $73,792,857 | $— | $— | $73,792,857 | |||||
Short-Term Investment1 | — | 753,779 | — | 753,779 | |||||
Total | $73,792,857 | $753,779 | $— | $74,546,636 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $30,880 | $— | $— | $30,880 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of portfolio holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $63,289,684) | $74,546,636 | |
Deposit with broker for futures contracts | 55,200 | |
Receivables: | ||
Fund shares sold | 94,090 | |
Dividends | 67,854 | |
Receivable from investment adviser | 133 | |
Prepaid expenses | + | 5,007 |
Total assets | 74,768,920 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 6,685 | |
Shareholder service fees | 4,914 | |
Fund shares redeemed | 10,716 | |
Variation margin on futures contracts | 2,325 | |
Accrued expenses | + | 33,172 |
Total liabilities | 57,812 | |
Net Assets | ||
Total assets | 74,768,920 | |
Total liabilities | – | 57,812 |
Net assets | $74,711,108 | |
Net Assets by Source | ||
Capital received from investors | 80,737,559 | |
Net investment income not yet distributed | 584,314 | |
Net realized capital losses | (17,898,597) | |
Net unrealized capital appreciation | 11,287,832 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$74,711,108 | 4,634,155 | $16.12 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $1,841) | $1,626,024 | |
Interest | 227 | |
Securities on loan | + | 36,422 |
Total investment income | 1,662,673 | |
Expenses | ||
Investment adviser and administrator fees | 421,874 | |
Shareholder service fees | 187,247 | |
Transfer agent fees | 30,690 | |
Professional fees | 28,942 | |
Registration fees | 22,734 | |
Shareholder reports | 12,016 | |
Portfolio accounting fees | 8,963 | |
Independent trustees' fees | 7,206 | |
Custodian fees | 5,315 | |
Proxy fees | 1,832 | |
Interest expense | 363 | |
Other expenses | + | 3,296 |
Total expenses | 730,478 | |
Expense reduction by CSIM and its affiliates | – | 30,690 |
Net expenses | – | 699,788 |
Net investment income | 962,885 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 5,188,545 | |
Net realized losses on futures contracts | + | (8,052) |
Net realized gains | 5,180,493 | |
Net change in unrealized appreciation (depreciation) on investments | (3,914,637) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 30,880 |
Net change in unrealized appreciation (depreciation) | + | (3,883,757) |
Net realized and unrealized gains | 1,296,736 | |
Increase in net assets resulting from operations | $2,259,621 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $962,885 | $547,971 | |
Net realized gains | 5,180,493 | 8,324,709 | |
Net change in unrealized appreciation (depreciation) | + | (3,883,757) | 1,496,790 |
Increase in net assets from operations | 2,259,621 | 10,369,470 | |
Distributions to Shareholders | |||
Distributions from net investment income | ($634,213) | ($544,804) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 1,229,645 | $19,921,091 | 1,726,999 | $25,585,699 | |
Shares reinvested | 31,821 | 515,508 | 33,720 | 471,741 | |
Shares redeemed | + | (1,546,950) | (25,169,207) | (1,631,931) | (23,993,680) |
Net transactions in fund shares | (285,484) | ($4,732,608) | 128,788 | $2,063,760 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 4,919,639 | $77,818,308 | 4,790,851 | $65,929,882 | |
Total increase or decrease | + | (285,484) | (3,107,200) | 128,788 | 11,888,426 |
End of period | 4,634,155 | $74,711,108 | 4,919,639 | $77,818,308 | |
Net investment income not yet distributed | $584,314 | $305,727 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $28.19 | $24.57 | $20.59 | $17.29 | $15.48 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.14 1 | 0.23 | 0.22 | 0.27 | 0.15 | |
Net realized and unrealized gains (losses) | 1.78 | 5.84 | 6.26 | 3.18 | 1.85 | |
Total from investment operations | 1.92 | 6.07 | 6.48 | 3.45 | 2.00 | |
Less distributions: | ||||||
Distributions from net investment income | (0.21) | (0.19) | (0.33) | (0.15) | (0.19) | |
Distributions from net realized gains | (3.22) | (2.26) | (2.17) | — | — | |
Total distributions | (3.43) | (2.45) | (2.50) | (0.15) | (0.19) | |
Net asset value at end of period | $26.68 | $28.19 | $24.57 | $20.59 | $17.29 | |
Total return | 7.26% | 27.06% | 35.46% | 20.10% | 13.00% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.79% | 0.80% | 0.82% | 0.82% | 0.81% 2 | |
Gross operating expenses | 0.80% | 0.81% | 0.83% | 0.85% | 0.85% | |
Net investment income (loss) | 0.52% | 0.93% | 1.06% | 1.44% | 0.85% | |
Portfolio turnover rate | 75% | 57% | 54% | 60% | 24% | |
Net assets, end of period (x 1,000,000) | $1,118 | $1,064 | $816 | $511 | $414 | |
Holdings by Category | Cost ($) | Value ($) | |
99.7% | Common Stock | 910,845,001 | 1,114,306,658 |
0.1% | Other Investment Company | 1,147,481 | 1,147,481 |
0.2% | Short-Term Investment | 2,961,603 | 2,961,603 |
100.0% | Total Investments | 914,954,085 | 1,118,415,742 |
(0.0%) | Other Assets and Liabilities, Net | (407,776) | |
100.0% | Net Assets | 1,118,007,966 |
Security | Number of Shares | Value ($) |
Common Stock 99.7% of net assets | ||
Australia 1.6% | ||
Health Care Equipment & Services 1.6% | ||
Cochlear Ltd. | 290,626 | 18,342,341 |
Denmark 3.5% | ||
Pharmaceuticals, Biotechnology & Life Sciences 3.5% | ||
Novo Nordisk A/S, Class B | 743,352 | 39,474,572 |
Finland 1.4% | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.4% | ||
Orion Oyj, Class B | 427,719 | 15,277,038 |
France 1.2% | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.2% | ||
Ipsen S.A. | 42,729 | 2,694,826 |
Sanofi | 110,341 | 11,130,739 |
13,825,565 | ||
Hong Kong 1.5% | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.5% | ||
Sino Biopharmaceutical Ltd. | 13,219,000 | 16,427,243 |
Ireland 3.9% | ||
Health Care Equipment & Services 0.9% | ||
Medtronic plc | 134,100 | 9,912,672 |
Security | Number of Shares | Value ($) |
Pharmaceuticals, Biotechnology & Life Sciences 3.0% | ||
Allergan plc * | 76,461 | 23,585,925 |
Jazz Pharmaceuticals plc * | 47,200 | 6,479,616 |
Mallinckrodt plc * | 37,200 | 2,442,924 |
Perrigo Co., plc | 8,180 | 1,290,313 |
33,798,778 | ||
43,711,450 | ||
Israel 1.5% | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.5% | ||
Teva Pharmaceutical Industries Ltd. | 277,941 | 16,502,196 |
Italy 0.6% | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.6% | ||
Recordati S.p.A. | 286,435 | 7,119,459 |
Japan 2.5% | ||
Health Care Equipment & Services 0.7% | ||
Hoya Corp. | 184,800 | 7,626,098 |
Pharmaceuticals, Biotechnology & Life Sciences 1.8% | ||
Astellas Pharma, Inc. | 208,500 | 3,026,266 |
Kaken Pharmaceutical Co., Ltd. | 40,000 | 2,764,592 |
Kissei Pharmaceutical Co., Ltd. | 41,800 | 1,075,294 |
Nichi-iko Pharmaceutical Co., Ltd. | 245,400 | 6,810,909 |
Shionogi & Co., Ltd. | 166,200 | 6,816,941 |
20,494,002 | ||
28,120,100 | ||
New Zealand 0.4% | ||
Health Care Equipment & Services 0.4% | ||
Fisher & Paykel Healthcare Corp., Ltd. | 743,661 | 3,913,202 |
Republic of Korea 0.3% | ||
Health Care Equipment & Services 0.3% | ||
Osstem Implant Co., Ltd. * | 48,599 | 2,837,867 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Korea United Pharm, Inc. | 27,667 | 451,946 |
3,289,813 | ||
South Africa 0.3% | ||
Health Care Equipment & Services 0.3% | ||
Netcare Ltd. | 1,166,240 | 3,316,433 |
Spain 0.1% | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Almirall S.A. | 34,242 | 659,101 |
Security | Number of Shares | Value ($) |
Switzerland 6.1% | ||
Pharmaceuticals, Biotechnology & Life Sciences 6.1% | ||
Actelion Ltd. - Reg'd * | 117,408 | 16,297,886 |
Lonza Group AG - Reg'd * | 191,918 | 28,169,671 |
Novartis AG - Reg'd | 43,088 | 3,903,284 |
Roche Holding AG | 72,077 | 19,568,824 |
67,939,665 | ||
Taiwan 0.2% | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||
TTY Biopharm Co., Ltd. | 578,000 | 1,637,512 |
United Kingdom 2.8% | ||
Pharmaceuticals, Biotechnology & Life Sciences 2.8% | ||
Abcam plc | 115,822 | 1,071,581 |
Shire plc | 402,747 | 30,500,369 |
31,571,950 | ||
United States 71.8% | ||
Health Care Equipment & Services 21.6% | ||
Abbott Laboratories | 599,500 | 26,857,600 |
Alere, Inc. * | 111,029 | 5,120,658 |
Alliance HealthCare Services, Inc. * | 17,700 | 149,742 |
Amedisys, Inc. * | 28,485 | 1,127,436 |
AmerisourceBergen Corp. | 292,246 | 28,204,661 |
AngioDynamics, Inc. * | 36,300 | 456,654 |
Anika Therapeutics, Inc. * | 81,100 | 3,123,972 |
C.R. Bard, Inc. | 125,300 | 23,349,655 |
Cardinal Health, Inc. | 49,419 | 4,062,242 |
Centene Corp. * | 44,200 | 2,629,016 |
Community Health Systems, Inc. * | 183,425 | 5,143,237 |
DENTSPLY International, Inc. | 43,178 | 2,627,381 |
Express Scripts Holding Co. * | 349,360 | 30,177,717 |
HCA Holdings, Inc. * | 71,700 | 4,932,243 |
Hill-Rom Holdings, Inc. | 121,900 | 6,422,911 |
Hologic, Inc. * | 651,367 | 25,312,122 |
Humana, Inc. | 28,199 | 5,037,187 |
LifePoint Health, Inc. * | 108,800 | 7,494,144 |
McKesson Corp. | 82,900 | 14,822,520 |
Meridian Bioscience, Inc. | 215,000 | 4,087,150 |
Merit Medical Systems, Inc. * | 48,230 | 894,184 |
Molina Healthcare, Inc. * | 356,729 | 22,117,198 |
Quality Systems, Inc. | 186,200 | 2,616,110 |
RadNet, Inc. * | 112,700 | 744,947 |
St. Jude Medical, Inc. | 84,300 | 5,379,183 |
The Providence Service Corp. * | 17,500 | 903,875 |
UnitedHealth Group, Inc. | 68,400 | 8,056,152 |
241,849,897 | ||
Pharmaceuticals, Biotechnology & Life Sciences 50.2% | ||
AbbVie, Inc. | 496,939 | 29,592,718 |
Acorda Therapeutics, Inc. * | 224,900 | 8,105,396 |
Affymetrix, Inc. * | 821,255 | 7,555,546 |
Agilent Technologies, Inc. | 263,300 | 9,942,208 |
AMAG Pharmaceuticals, Inc. * | 192,300 | 7,692,000 |
Amgen, Inc. | 438,300 | 69,330,294 |
Security | Number of Shares | Value ($) |
Biogen, Inc. * | 76,790 | 22,308,263 |
Bristol-Myers Squibb Co. | 46,134 | 3,042,537 |
Catalent, Inc. * | 148,200 | 3,939,156 |
Celgene Corp. * | 453,106 | 55,600,637 |
Charles River Laboratories International, Inc. * | 460,334 | 30,032,190 |
Eli Lilly & Co. | 311,562 | 25,414,112 |
Emergent Biosolutions, Inc. * | 203,000 | 6,526,450 |
Gilead Sciences, Inc. | 751,913 | 81,304,353 |
Incyte Corp. * | 96,106 | 11,295,338 |
Infinity Pharmaceuticals, Inc. * | 96,854 | 1,002,439 |
Johnson & Johnson | 636,400 | 64,295,492 |
Ligand Pharmaceuticals, Inc. * | 15,829 | 1,430,150 |
Luminex Corp. * | 76,700 | 1,395,940 |
Merck & Co., Inc. | 543,218 | 29,692,296 |
MiMedx Group, Inc. *(a) | 192,655 | 1,402,528 |
PDL BioPharma, Inc. | 444,700 | 2,036,726 |
Pernix Therapeutics Holdings, Inc. *(a) | 508,212 | 1,428,076 |
Pfizer, Inc. | 1,703,500 | 57,612,370 |
Phibro Animal Health Corp., Class A | 79,500 | 2,652,120 |
Prestige Brands Holdings, Inc. * | 206,401 | 10,115,713 |
SciClone Pharmaceuticals, Inc. * | 101,400 | 772,668 |
Sucampo Pharmaceuticals, Inc., Class A * | 94,804 | 1,835,406 |
Supernus Pharmaceuticals, Inc. * | 91,600 | 1,511,400 |
Zoetis, Inc. | 289,807 | 12,464,599 |
561,329,121 | ||
803,179,018 | ||
Total Common Stock | ||
(Cost $910,845,001) | 1,114,306,658 | |
Other Investment Company 0.1% of net assets | ||
United States 0.1% | ||
Securities Lending Collateral 0.1% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (b) | 1,147,481 | 1,147,481 |
Total Other Investment Company | ||
(Cost $1,147,481) | 1,147,481 |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investment 0.2% of net assets | ||
Time Deposit 0.2% | ||
JPMorgan Chase Bank | ||
U.S. Dollar | ||
0.03%, 11/02/15 | 2,961,603 | 2,961,603 |
Total Short-Term Investment | ||
(Cost $2,961,603) | 2,961,603 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $1,112,249. |
(b) | The rate shown is the 7-day yield. |
Reg'd — | Registered |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $846,890,468 | $— | $— | $846,890,468 | |||||
Australia 1 | — | 18,342,341 | — | 18,342,341 | |||||
Denmark 1 | — | 39,474,572 | — | 39,474,572 | |||||
Finland 1 | — | 15,277,038 | — | 15,277,038 | |||||
France 1 | — | 13,825,565 | — | 13,825,565 | |||||
Hong Kong1 | — | 16,427,243 | — | 16,427,243 | |||||
Israel 1 | — | 16,502,196 | — | 16,502,196 | |||||
Italy 1 | — | 7,119,459 | — | 7,119,459 | |||||
Japan 1 | — | 28,120,100 | — | 28,120,100 | |||||
New Zealand1 | — | 3,913,202 | — | 3,913,202 | |||||
Republic of Korea1 | — | 3,289,813 | — | 3,289,813 | |||||
South Africa1 | — | 3,316,433 | — | 3,316,433 | |||||
Spain 1 | — | 659,101 | — | 659,101 | |||||
Switzerland 1 | — | 67,939,665 | — | 67,939,665 | |||||
Taiwan 1 | — | 1,637,512 | — | 1,637,512 | |||||
United Kingdom1 | — | 31,571,950 | — | 31,571,950 | |||||
Other Investment Company1 | 1,147,481 | — | — | 1,147,481 | |||||
Short-Term Investment1 | — | 2,961,603 | — | 2,961,603 | |||||
Total | $848,037,949 | $270,377,793 | $— | $1,118,415,742 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments, at value (cost $913,806,604) including securities on loan of $1,112,249 | $1,117,268,261 | |
Collateral invested for securities on loan, at value (cost $1,147,481) | + | 1,147,481 |
Total investments, at value (cost $914,954,085) | 1,118,415,742 | |
Deposit with broker for futures contracts | 671,600 | |
Receivables: | ||
Foreign tax reclaims | 827,235 | |
Dividends | 619,343 | |
Fund shares sold | 411,133 | |
Income from securities on loan | 376 | |
Prepaid expenses | + | 16,230 |
Total assets | 1,120,961,659 | |
Liabilities | ||
Collateral held for securities on loan | 1,147,481 | |
Payables: | ||
Investment adviser and administrator fees | 96,167 | |
Shareholder service fees | 63,509 | |
Fund shares redeemed | 1,537,287 | |
Due to custodian | 66 | |
Accrued expenses | + | 109,183 |
Total liabilities | 2,953,693 | |
Net Assets | ||
Total assets | 1,120,961,659 | |
Total liabilities | – | 2,953,693 |
Net assets | $1,118,007,966 | |
Net Assets by Source | ||
Capital received from investors | 760,098,531 | |
Net investment income not yet distributed | 5,464,139 | |
Net realized capital gains | 149,044,372 | |
Net unrealized capital appreciation | 203,400,924 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,118,007,966 | 41,899,058 | $26.68 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $580,190) | $14,969,842 | |
Interest | 2,985 | |
Securities on loan | + | 89,391 |
Total investment income | 15,062,218 | |
Expenses | ||
Investment adviser and administrator fees | 6,024,124 | |
Shareholder service fees | 2,709,866 | |
Custodian fees | 111,877 | |
Transfer agent fees | 80,096 | |
Portfolio accounting fees | 68,597 | |
Shareholder reports | 54,279 | |
Registration fees | 48,809 | |
Professional fees | 33,463 | |
Proxy fees | 12,546 | |
Independent trustees' fees | 12,308 | |
Interest expense | 3,871 | |
Other expenses | + | 40,764 |
Total expenses | 9,200,600 | |
Expense reduction by CSIM and its affiliates | – | 80,096 |
Net expenses | – | 9,120,504 |
Net investment income | 5,941,714 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 149,745,410 | |
Net realized gains on futures contracts | 43,974 | |
Net realized losses on foreign currency transactions | + | (53,813) |
Net realized gains | 149,735,571 | |
Net change in unrealized appreciation (depreciation) on investments | (79,006,868) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (358,386) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 3,694 |
Net change in unrealized appreciation (depreciation) | + | (79,361,560) |
Net realized and unrealized gains | 70,374,011 | |
Increase in net assets resulting from operations | $76,315,725 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $5,941,714 | $8,554,649 | |
Net realized gains | 149,735,571 | 122,400,978 | |
Net change in unrealized appreciation (depreciation) | + | (79,361,560) | 91,379,380 |
Increase in net assets from operations | 76,315,725 | 222,335,007 | |
Distributions to Shareholders | |||
Distributions from net investment income | (8,134,921) | (6,270,757) | |
Distributions from net realized gains | + | (122,526,297) | (76,135,752) |
Total distributions | ($130,661,218) | ($82,406,509) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 7,812,599 | $212,724,582 | 8,951,426 | $224,018,159 | |
Shares reinvested | 4,588,745 | 118,160,176 | 3,264,515 | 74,267,727 | |
Shares redeemed | + | (8,253,014) | (222,654,576) | (7,695,559) | (190,483,862) |
Net transactions in fund shares | 4,148,330 | $108,230,182 | 4,520,382 | $107,802,024 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 37,750,728 | $1,064,123,277 | 33,230,346 | $816,392,755 | |
Total increase | + | 4,148,330 | 53,884,689 | 4,520,382 | 247,730,522 |
End of period | 41,899,058 | $1,118,007,966 | 37,750,728 | $1,064,123,277 | |
Net investment income not yet distributed | $5,464,139 | $7,711,159 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $9.77 | $9.82 | $7.90 | $7.32 | $7.80 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.19 1 | 0.29 1 | 0.20 | 0.16 | 0.17 | |
Net realized and unrealized gains (losses) | (0.01) | (0.08) | 1.93 | 0.62 | (0.46) | |
Total from investment operations | 0.18 | 0.21 | 2.13 | 0.78 | (0.29) | |
Less distributions: | ||||||
Distributions from net investment income | (0.15) | (0.26) | (0.21) | (0.20) | (0.19) | |
Distributions from net realized gains | (0.18) | — | — | — | — | |
Total distributions | (0.33) | (0.26) | (0.21) | (0.20) | (0.19) | |
Net asset value at end of period | $9.62 | $9.77 | $9.82 | $7.90 | $7.32 | |
Total return | 2.05% | 2.20% | 27.70% | 11.17% | (3.89%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.86% | 0.86% | 0.86% | 0.86% | 0.80% 2 | |
Gross operating expenses | 0.92% | 0.98% | 1.10% | 1.16% | 1.22% | |
Net investment income (loss) | 2.02% | 2.95% | 2.40% | 2.45% | 2.32% | |
Portfolio turnover rate | 87% | 90% | 75% | 112% | 86% | |
Net assets, end of period (x 1,000,000) | $679 | $423 | $147 | $78 | $60 | |
Holdings by Category | Cost ($) | Value ($) | |
98.8% | Common Stock | 666,677,311 | 670,829,080 |
0.6% | Other Investment Company | 4,214,532 | 4,214,532 |
99.4% | Total Investments | 670,891,843 | 675,043,612 |
0.6% | Other Assets and Liabilities, Net | 4,288,744 | |
100.0% | Net Assets | 679,332,356 |
Security | Number of Shares | Value ($) |
Common Stock 98.8% of net assets | ||
Australia 5.1% | ||
Banks 2.0% | ||
Australia & New Zealand Banking Group Ltd. | 692,021 | 13,383,887 |
Commercial & Professional Supplies 0.2% | ||
Downer EDI Ltd. | 501,938 | 1,261,323 |
Diversified Financials 0.9% | ||
ASX Ltd. | 21,443 | 626,860 |
Macquarie Group Ltd. | 22,628 | 1,370,099 |
Platinum Asset Management Ltd. | 808,660 | 4,239,798 |
6,236,757 | ||
Energy 1.2% | ||
Woodside Petroleum Ltd. | 382,914 | 8,030,838 |
Health Care Equipment & Services 0.1% | ||
Cochlear Ltd. | 10,626 | 670,641 |
Materials 0.4% | ||
Evolution Mining Ltd. | 1,042,527 | 1,038,474 |
Northern Star Resources Ltd. | 490,610 | 957,316 |
OZ Minerals Ltd. | 264,497 | 811,684 |
Sandfire Resources NL | 74,803 | 334,314 |
3,141,788 | ||
Retailing 0.3% | ||
JB Hi-Fi Ltd. | 150,654 | 1,916,868 |
34,642,102 | ||
Austria 0.3% | ||
Capital Goods 0.3% | ||
ANDRITZ AG | 43,944 | 2,207,843 |
Security | Number of Shares | Value ($) |
Belgium 2.1% | ||
Banks 1.0% | ||
KBC Groep N.V. | 107,695 | 6,548,034 |
Transportation 1.1% | ||
bpost S.A. | 311,723 | 7,801,684 |
14,349,718 | ||
Brazil 0.1% | ||
Media 0.1% | ||
Multiplus S.A. | 63,700 | 566,965 |
Canada 0.8% | ||
Automobiles & Components 0.7% | ||
Magna International, Inc. | 85,826 | 4,526,278 |
Materials 0.1% | ||
Dominion Diamond Corp. | 92,800 | 981,511 |
5,507,789 | ||
Denmark 3.3% | ||
Banks 0.8% | ||
Sydbank A/S | 167,009 | 5,493,562 |
Capital Goods 0.7% | ||
Vestas Wind Systems A/S | 81,855 | 4,772,491 |
Pharmaceuticals, Biotechnology & Life Sciences 1.5% | ||
Novo Nordisk A/S, Class B | 192,821 | 10,239,464 |
Transportation 0.3% | ||
AP Moeller - Maersk A/S, Series B | 1,219 | 1,799,025 |
22,304,542 | ||
Finland 0.7% | ||
Capital Goods 0.2% | ||
Yit Oyj | 262,820 | 1,385,340 |
Real Estate 0.1% | ||
Sponda Oyj | 150,056 | 637,432 |
Telecommunication Services 0.4% | ||
Elisa Oyj | 71,583 | 2,696,980 |
4,719,752 | ||
France 11.0% | ||
Automobiles & Components 1.3% | ||
Peugeot S.A. * | 502,339 | 8,825,839 |
Banks 1.5% | ||
Credit Agricole S.A. | 795,188 | 10,043,611 |
Capital Goods 0.3% | ||
Safran S.A. | 27,973 | 2,124,663 |
Consumer Durables & Apparel 1.1% | ||
Christian Dior SE | 38,420 | 7,551,146 |
Energy 0.4% | ||
Total S.A. | 53,956 | 2,609,248 |
Health Care Equipment & Services 0.1% | ||
Essilor International S.A. | 5,191 | 681,388 |
Media 0.6% | ||
Technicolor S.A. - Reg'd | 540,800 | 3,657,346 |
Security | Number of Shares | Value ($) |
Pharmaceuticals, Biotechnology & Life Sciences 3.9% | ||
Ipsen S.A. | 119,997 | 7,567,954 |
Sanofi | 190,060 | 19,172,458 |
26,740,412 | ||
Software & Services 0.9% | ||
UBISOFT Entertainment * | 198,647 | 5,951,726 |
Telecommunication Services 0.7% | ||
Orange S.A. | 283,550 | 4,999,467 |
Utilities 0.2% | ||
Veolia Environnement S.A. | 54,762 | 1,272,134 |
74,456,980 | ||
Germany 7.1% | ||
Automobiles & Components 0.4% | ||
Continental AG | 10,020 | 2,406,099 |
Banks 0.1% | ||
Aareal Bank AG | 17,612 | 670,984 |
Capital Goods 0.4% | ||
Duerr AG | 32,486 | 2,704,874 |
Food & Staples Retailing 1.5% | ||
METRO AG | 328,622 | 10,110,280 |
Insurance 1.9% | ||
Allianz SE - Reg'd | 74,033 | 12,960,789 |
Materials 0.3% | ||
Aurubis AG | 33,600 | 2,244,477 |
Media 2.3% | ||
CTS Eventim AG & Co. KGaA | 47,284 | 1,850,672 |
ProSiebenSat.1 Media SE | 260,217 | 14,060,981 |
15,911,653 | ||
Software & Services 0.2% | ||
XING AG | 6,381 | 1,259,559 |
48,268,715 | ||
Hong Kong 3.5% | ||
Capital Goods 0.1% | ||
EVA Precision Industrial Holdings Ltd. | 1,648,000 | 390,972 |
Household & Personal Products 0.3% | ||
Hengan International Group Co., Ltd. | 202,000 | 2,181,282 |
Real Estate 2.3% | ||
China Resources Land Ltd. | 576,000 | 1,496,786 |
Hang Lung Group Ltd. | 251,000 | 910,075 |
Hang Lung Properties Ltd. | 1,841,000 | 4,504,597 |
Kerry Properties Ltd. | 197,000 | 583,149 |
New World Development Co., Ltd. | 7,774,000 | 8,291,796 |
15,786,403 | ||
Software & Services 0.8% | ||
Tencent Holdings Ltd. | 280,148 | 5,280,614 |
23,639,271 | ||
Ireland 0.4% | ||
Consumer Services 0.3% | ||
Paddy Power plc | 19,856 | 2,297,562 |
Materials 0.1% | ||
Smurfit Kappa Group plc | 21,868 | 622,342 |
2,919,904 |
Security | Number of Shares | Value ($) |
Italy 1.7% | ||
Automobiles & Components 0.3% | ||
Brembo S.p.A. | 40,873 | 1,801,520 |
Banks 1.0% | ||
Banca Popolare Di Milano Scarl | 4,180,167 | 3,922,314 |
Intesa Sanpaolo S.p.A. | 806,127 | 2,804,560 |
6,726,874 | ||
Capital Goods 0.1% | ||
Biesse S.p.A. | 21,675 | 354,954 |
Maire Tecnimont S.p.A. * | 141,317 | 406,831 |
761,785 | ||
Diversified Financials 0.2% | ||
Banca IFIS S.p.A. | 60,898 | 1,502,132 |
Energy 0.1% | ||
Saras S.p.A. * | 294,205 | 580,488 |
11,372,799 | ||
Japan 21.2% | ||
Automobiles & Components 2.1% | ||
Calsonic Kansei Corp. | 303,000 | 2,414,812 |
Fuji Heavy Industries Ltd. | 235,590 | 9,111,115 |
NHK Spring Co., Ltd. | 190,000 | 1,933,802 |
Tokai Rika Co., Ltd. | 44,000 | 951,399 |
14,411,128 | ||
Banks 3.7% | ||
Fukuoka Financial Group, Inc. | 337,000 | 1,773,344 |
Mitsubishi UFJ Financial Group, Inc. | 1,193,700 | 7,720,291 |
Resona Holdings, Inc. | 2,150,300 | 11,377,932 |
Sumitomo Mitsui Financial Group, Inc. | 111,400 | 4,444,152 |
25,315,719 | ||
Capital Goods 2.1% | ||
Hazama Ando Corp. | 838,400 | 4,943,163 |
ITOCHU Corp. | 55,300 | 691,968 |
Minebea Co., Ltd. | 42,000 | 462,579 |
Mitsubishi Electric Corp. | 167,000 | 1,739,261 |
OKUMA Corp. | 310,000 | 2,485,705 |
Tadano Ltd. | 311,000 | 3,715,032 |
14,037,708 | ||
Commercial & Professional Supplies 0.6% | ||
Meitec Corp. | 39,000 | 1,416,389 |
Nissha Printing Co., Ltd. | 123,900 | 2,694,404 |
4,110,793 | ||
Consumer Durables & Apparel 0.5% | ||
Fujitsu General Ltd. | 118,000 | 1,481,828 |
Haseko Corp. | 126,000 | 1,281,065 |
Iida Group Holdings Co., Ltd. | 39,000 | 730,971 |
3,493,864 | ||
Consumer Services 0.4% | ||
Kura Corp. | 83,200 | 2,514,399 |
Energy 0.1% | ||
Nippon Gas Co., Ltd. | 20,000 | 505,814 |
Food, Beverage & Tobacco 0.2% | ||
Japan Tobacco, Inc. | 21,300 | 737,231 |
Morinaga & Co., Ltd. | 129,000 | 656,909 |
1,394,140 |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 0.6% | ||
Hoya Corp. | 85,400 | 3,524,182 |
Sysmex Corp. | 11,300 | 645,894 |
4,170,076 | ||
Insurance 0.1% | ||
The Dai-ichi Life Insurance Co., Ltd. | 39,000 | 674,672 |
Materials 1.1% | ||
Denka Co., Ltd. | 301,100 | 1,397,259 |
Sumitomo Chemical Co., Ltd. | 686,800 | 3,934,130 |
Sumitomo Osaka Cement Co., Ltd. | 169,000 | 651,246 |
Tokyo Steel Manufacturing Co., Ltd. | 215,900 | 1,440,737 |
7,423,372 | ||
Media 0.1% | ||
Daiichikosho Co., Ltd. | 12,900 | 430,241 |
Pharmaceuticals, Biotechnology & Life Sciences 1.3% | ||
Astellas Pharma, Inc. | 535,100 | 7,766,691 |
Daiichi Sankyo Co., Ltd. | 51,200 | 1,005,519 |
8,772,210 | ||
Real Estate 1.5% | ||
Advance Residence Investment Corp. | 221 | 471,559 |
Daiwa House Industry Co., Ltd. | 29,000 | 761,259 |
Japan Logistics Fund, Inc. | 3,387 | 6,334,147 |
Premier Investment Corp. | 2,890 | 2,835,185 |
10,402,150 | ||
Retailing 1.1% | ||
Geo Holdings Corp. | 99,092 | 1,482,791 |
Nishimatsuya Chain Co., Ltd. | 177,900 | 1,570,781 |
T-Gaia Corp. | 313,700 | 4,782,800 |
7,836,372 | ||
Semiconductors & Semiconductor Equipment 0.2% | ||
Nec Electronics Corp. * | 94,100 | 602,481 |
Tokyo Seimitsu Co., Ltd. | 22,700 | 501,175 |
1,103,656 | ||
Software & Services 1.1% | ||
GMO Internet, Inc. | 197,400 | 2,795,798 |
Mixi, Inc. | 126,700 | 4,838,264 |
7,634,062 | ||
Technology Hardware & Equipment 0.6% | ||
Alps Electric Co., Ltd. | 20,800 | 645,615 |
Hitachi Kokusai Electric, Inc. | 57,000 | 786,998 |
Japan Aviation Electronics Industry Ltd. | 18,000 | 318,853 |
Murata Manufacturing Co., Ltd. | 6,100 | 868,344 |
Yokogawa Electric Corp. | 109,300 | 1,220,912 |
3,840,722 | ||
Telecommunication Services 0.5% | ||
KDDI Corp. | 132,200 | 3,199,017 |
Transportation 2.0% | ||
Central Japan Railway Co. | 14,845 | 2,707,925 |
Japan Airlines Co., Ltd. | 253,800 | 9,561,440 |
Sankyu, Inc. | 124,000 | 698,522 |
Senko Co., Ltd. | 88,000 | 609,120 |
13,577,007 |
Security | Number of Shares | Value ($) |
Utilities 1.3% | ||
Chubu Electric Power Co., Inc. | 158,300 | 2,435,128 |
Tohoku Electric Power Co., Inc. | 477,300 | 6,701,499 |
9,136,627 | ||
143,983,749 | ||
Luxembourg 0.2% | ||
Materials 0.2% | ||
APERAM S.A. * | 37,612 | 1,158,086 |
Netherlands 4.0% | ||
Diversified Financials 0.1% | ||
Euronext N.V. | 14,052 | 617,120 |
Food & Staples Retailing 1.4% | ||
Koninklijke Ahold N.V. | 475,085 | 9,664,537 |
Household & Personal Products 1.6% | ||
Unilever N.V. CVA | 231,651 | 10,474,707 |
Media 0.6% | ||
RELX N.V. | 236,616 | 4,035,907 |
Semiconductors & Semiconductor Equipment 0.1% | ||
BE Semiconductor Industries N.V. | 40,929 | 883,459 |
Telecommunication Services 0.2% | ||
Koninklijke (Royal) KPN N.V. | 336,777 | 1,234,019 |
26,909,749 | ||
New Zealand 0.1% | ||
Transportation 0.1% | ||
Air New Zealand Ltd. | 452,846 | 890,767 |
Norway 0.9% | ||
Banks 0.2% | ||
SpareBank 1 SMN | 201,331 | 1,262,343 |
Energy 0.6% | ||
TGS Nopec Geophysical Co. A.S.A. | 196,813 | 3,902,380 |
Telecommunication Services 0.1% | ||
Telenor A.S.A. | 48,319 | 910,241 |
6,074,964 | ||
Portugal 1.0% | ||
Transportation 1.0% | ||
CTT-Correios de Portugal S.A. | 620,825 | 7,051,711 |
Republic of Korea 0.4% | ||
Capital Goods 0.3% | ||
Hyundai Development Co. | 24,171 | 970,746 |
Hyundai Elevator Co., Ltd. * | 20,490 | 940,019 |
1,910,765 | ||
Materials 0.1% | ||
Lotte Chemical Corp. | 3,133 | 657,769 |
2,568,534 | ||
Singapore 1.4% | ||
Banks 0.7% | ||
DBS Group Holdings Ltd. | 382,000 | 4,696,708 |
Security | Number of Shares | Value ($) |
Food, Beverage & Tobacco 0.4% | ||
Wilmar International Ltd. | 1,168,000 | 2,602,734 |
Retailing 0.1% | ||
Jardine Cycle & Carriage Ltd. | 29,000 | 671,431 |
Transportation 0.2% | ||
SATS Ltd. | 655,800 | 1,772,360 |
9,743,233 | ||
South Africa 0.8% | ||
Materials 0.8% | ||
Mondi Ltd. | 246,128 | 5,718,876 |
Spain 2.2% | ||
Banks 0.4% | ||
Banco Santander S.A. | 491,658 | 2,746,499 |
Energy 0.3% | ||
Tecnicas Reunidas S.A. | 34,618 | 1,541,778 |
Materials 0.1% | ||
Ence Energia y Celulosa S.A. | 175,285 | 612,678 |
Media 0.5% | ||
Mediaset Espana Comunicacion S.A. | 287,719 | 3,491,045 |
Software & Services 0.1% | ||
Amadeus IT Holding S.A., A Shares | 17,239 | 733,288 |
Telecommunication Services 0.2% | ||
Telefonica S.A. | 110,046 | 1,451,874 |
Utilities 0.6% | ||
Endesa S.A. | 191,034 | 4,247,676 |
14,824,838 | ||
Sweden 2.0% | ||
Banks 0.5% | ||
Nordea Bank AB | 321,455 | 3,546,816 |
Capital Goods 0.2% | ||
Peab AB | 133,953 | 1,023,997 |
Diversified Financials 0.4% | ||
Industrivarden AB, A Shares | 121,687 | 2,374,472 |
Food & Staples Retailing 0.4% | ||
Axfood AB | 153,480 | 2,769,708 |
Materials 0.0% | ||
Boliden AB | 14,478 | 277,201 |
Software & Services 0.5% | ||
NetEnt AB * | 60,710 | 3,448,641 |
13,440,835 | ||
Switzerland 9.0% | ||
Capital Goods 0.6% | ||
Schindler Holding AG | 23,386 | 3,794,218 |
Diversified Financials 0.4% | ||
Cembra Money Bank AG * | 46,521 | 2,773,596 |
Food, Beverage & Tobacco 2.4% | ||
Nestle S.A. - Reg'd | 212,097 | 16,198,682 |
Insurance 2.1% | ||
Swiss Life Holding AG - Reg'd * | 30,777 | 7,333,847 |
Zurich Insurance Group AG * | 25,417 | 6,707,544 |
14,041,391 |
Security | Number of Shares | Value ($) |
Materials 0.3% | ||
Givaudan S.A. - Reg'd * | 1,131 | 2,022,455 |
Pharmaceuticals, Biotechnology & Life Sciences 3.0% | ||
Actelion Ltd. - Reg'd * | 29,212 | 4,055,038 |
Lonza Group AG - Reg'd * | 20,542 | 3,015,149 |
Novartis AG - Reg'd | 46,650 | 4,225,961 |
Roche Holding AG | 34,696 | 9,419,924 |
20,716,072 | ||
Telecommunication Services 0.2% | ||
Swisscom AG - Reg'd | 3,108 | 1,601,287 |
61,147,701 | ||
Taiwan 0.9% | ||
Semiconductors & Semiconductor Equipment 0.4% | ||
Taiwan Semiconductor Manufacturing Co., Ltd. | 684,000 | 2,882,147 |
Technology Hardware & Equipment 0.5% | ||
Foxconn Technology Co., Ltd. | 450,460 | 1,179,886 |
Hon Hai Precision Industry Co., Ltd. | 182,000 | 483,767 |
Pegatron Corp. | 625,700 | 1,528,999 |
3,192,652 | ||
6,074,799 | ||
United Kingdom 18.6% | ||
Banks 0.4% | ||
Barclays plc | 444,409 | 1,583,331 |
The Paragon Group of Cos. plc | 156,968 | 1,013,769 |
2,597,100 | ||
Capital Goods 0.5% | ||
QinetiQ Group plc | 1,089,966 | 3,755,232 |
Commercial & Professional Supplies 0.3% | ||
WS Atkins plc | 88,419 | 1,873,678 |
Consumer Durables & Apparel 0.1% | ||
Persimmon plc * | 33,419 | 1,024,877 |
Consumer Services 0.6% | ||
Unibet Group plc SDR | 46,748 | 4,117,184 |
Energy 3.9% | ||
BP plc | 1,679,013 | 9,978,350 |
Royal Dutch Shell plc, B Shares | 626,688 | 16,409,753 |
26,388,103 | ||
Food & Staples Retailing 0.1% | ||
Greggs plc | 27,455 | 502,433 |
Food, Beverage & Tobacco 2.7% | ||
British American Tobacco plc | 34,919 | 2,074,522 |
Imperial Tobacco Group plc | 302,253 | 16,275,719 |
18,350,241 | ||
Household & Personal Products 1.6% | ||
Reckitt Benckiser Group plc | 6,951 | 678,351 |
Unilever plc | 231,046 | 10,288,130 |
10,966,481 | ||
Insurance 1.0% | ||
Hiscox Ltd. | 136,646 | 2,032,032 |
Old Mutual plc | 1,364,463 | 4,459,624 |
6,491,656 |
Security | Number of Shares | Value ($) |
Materials 1.8% | ||
BHP Billiton plc | 494,833 | 7,909,422 |
Rio Tinto plc | 125,242 | 4,564,473 |
12,473,895 | ||
Media 0.2% | ||
ITV plc | 379,436 | 1,473,080 |
Pharmaceuticals, Biotechnology & Life Sciences 1.0% | ||
Shire plc | 86,652 | 6,562,229 |
Real Estate 0.8% | ||
The Unite Group plc | 544,434 | 5,571,655 |
Retailing 0.9% | ||
Howden Joinery Group plc | 240,866 | 1,717,933 |
Next plc | 20,659 | 2,544,257 |
WH Smith plc | 63,690 | 1,670,807 |
5,932,997 | ||
Software & Services 0.9% | ||
Moneysupermarket.com Group plc | 1,240,106 | 6,382,182 |
Telecommunication Services 1.5% | ||
BT Group plc | 1,433,577 | 10,237,906 |
Transportation 0.1% | ||
Go-Ahead Group plc | 11,156 | 417,054 |
Utilities 0.2% | ||
Centrica plc | 335,350 | 1,166,875 |
126,284,858 | ||
Total Common Stock | ||
(Cost $666,677,311) | 670,829,080 | |
Other Investment Company 0.6% of net assets | ||
Money Market Fund 0.6% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (a) | 4,214,532 | 4,214,532 |
Total Other Investment Company | ||
(Cost $4,214,532) | 4,214,532 |
At 10/31/15, the tax basis cost of the fund's investments was $672,904,002 and the unrealized appreciation and depreciation were $39,674,721 and ($37,535,111), respectively, with a net unrealized appreciation of $2,139,610.
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
CVA — | Dutch Certificate |
Reg'd — | Registered |
SDR — | Swedish Depositary Receipt |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/18/15 | 20 | 1,757,100 | 40,007 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $— | $512,126,684 | $— | $512,126,684 | |||||
Canada 1 | 5,507,789 | — | — | 5,507,789 | |||||
Netherlands 1 | — | 16,435,042 | — | 16,435,042 | |||||
Household & Personal Products | 10,474,707 | — | — | 10,474,707 | |||||
United Kingdom1 | — | 125,867,804 | — | 125,867,804 | |||||
Transportation | 417,054 | — | — | 417,054 | |||||
Other Investment Company1 | 4,214,532 | — | — | 4,214,532 | |||||
Total | $20,614,082 | $654,429,530 | $— | $675,043,612 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $40,007 | $— | $— | $40,007 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of portfolio holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $670,891,843) | $675,043,612 | |
Foreign currency, at value (cost $56,589) | 56,895 | |
Deposit with broker for futures contracts | 950,400 | |
Receivables: | ||
Investments sold | 123,910 | |
Fund shares sold | 2,404,502 | |
Dividends | 1,157,429 | |
Foreign tax reclaims | 414,387 | |
Prepaid expenses | + | 28,069 |
Total assets | 680,179,204 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 56,430 | |
Shareholder service fees | 25,391 | |
Fund shares redeemed | 643,040 | |
Variation margin on futures contracts | 3,700 | |
Accrued expenses | + | 118,287 |
Total liabilities | 846,848 | |
Net Assets | ||
Total assets | 680,179,204 | |
Total liabilities | – | 846,848 |
Net assets | $679,332,356 | |
Net Assets by Source | ||
Capital received from investors | 677,861,071 | |
Net investment income not yet distributed | 12,297,487 | |
Net realized capital losses | (15,000,799) | |
Net unrealized capital appreciation | 4,174,597 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$679,332,356 | 70,592,461 | $9.62 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $1,484,162) | $16,135,976 | |
Expenses | ||
Investment adviser and administrator fees | 3,251,385 | |
Shareholder service fees | 1,381,157 | |
Custodian fees | 245,532 | |
Portfolio accounting fees | 77,212 | |
Registration fees | 75,594 | |
Professional fees | 45,909 | |
Transfer agent fees | 32,562 | |
Shareholder reports | 29,665 | |
Independent trustees' fees | 9,401 | |
Proxy fees | 7,602 | |
Interest expense | 15 | |
Other expenses | + | 16,286 |
Total expenses | 5,172,320 | |
Expense reduction by CSIM and its affiliates | – | 343,620 |
Net expenses | – | 4,828,700 |
Net investment income | 11,307,276 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (3,364,885) | |
Net realized losses on futures contracts | (410,333) | |
Net realized losses on foreign currency transactions | + | (130,826) |
Net realized losses | (3,906,044) | |
Net change in unrealized appreciation (depreciation) on investments | (484,092) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (112,226) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 5,941 |
Net change in unrealized appreciation (depreciation) | + | (590,377) |
Net realized and unrealized losses | (4,496,421) | |
Increase in net assets resulting from operations | $6,810,855 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $11,307,276 | $6,372,776 | |
Net realized gains (losses) | (3,906,044) | 12,538,542 | |
Net change in unrealized appreciation (depreciation) | + | (590,377) | (18,676,258) |
Increase in net assets from operations | 6,810,855 | 235,060 | |
Distributions to Shareholders | |||
Distributions from net investment income | (6,697,762) | (4,000,904) | |
Distributions from net realized gains | + | (8,247,177) | — |
Total distributions | ($14,944,939) | ($4,000,904) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 39,601,250 | $382,386,533 | 35,207,779 | $349,758,745 | |
Shares reinvested | 1,470,490 | 13,499,099 | 277,927 | 2,612,515 | |
Shares redeemed | + | (13,726,881) | (130,995,091) | (7,226,558) | (73,262,028) |
Net transactions in fund shares | 27,344,859 | $264,890,541 | 28,259,148 | $279,109,232 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 43,247,602 | $422,575,899 | 14,988,454 | $147,232,511 | |
Total increase | + | 27,344,859 | 256,756,457 | 28,259,148 | 275,343,388 |
End of period | 70,592,461 | $679,332,356 | 43,247,602 | $422,575,899 | |
Net investment income not yet distributed | $12,297,487 | $4,844,140 |
Schwab Capital Trust (organized May 7, 1993) | Schwab Target 2010 Fund |
Schwab Core Equity Fund | Schwab Target 2015 Fund |
Schwab Dividend Equity Fund | Schwab Target 2020 Fund |
Schwab Large-Cap Growth Fund | Schwab Target 2025 Fund |
Schwab Small-Cap Equity Fund | Schwab Target 2030 Fund |
Schwab Hedged Equity Fund | Schwab Target 2035 Fund |
Schwab Financial Services Fund | Schwab Target 2040 Fund |
Schwab Health Care Fund | Schwab Target 2045 Fund |
Schwab International Core Equity Fund | Schwab Target 2050 Fund |
Schwab ® S&P 500 Index Fund | Schwab Target 2055 Fund |
Schwab Small-Cap Index Fund® | Schwab Fundamental US Large Company Index Fund |
Schwab Total Stock Market Index Fund® | Schwab Fundamental US Small Company Index Fund |
Schwab International Index Fund® | Schwab Fundamental International Large Company Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Fundamental International Small Company Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab ® Monthly Income Fund - Moderate Payout |
Laudus Small-Cap MarketMasters Fund™ | Schwab ® Monthly Income Fund - Enhanced Payout |
Laudus International MarketMasters Fund™ | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab Balanced Fund™ |
% of Average Daily Net Assets | Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | Schwab International Core Equity Fund | ||||||
Flat rate | 0.47% | 0.62% | 0.72% | 0.81% | 1.05% | 0.58% |
% of Average Daily Net Assets | Schwab Financial Services Fund | Schwab Health Care Fund | ||
First $500 million | 0.54% | 0.54% | ||
$500 million to $1 billion | 0.515% | 0.515% | ||
Over $1 billion | 0.49% | 0.49% |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | ||||
0.75% | 0.89% | 0.99% | 1.12% | 1.33%* |
Schwab Financial Services Fund | Schwab Health Care Fund | Schwab International Core Equity Fund | ||
0.94% | 0.82% | 0.86% |
* | Excludes dividends and stock loan fees paid on securities sold short. |
Underlying Funds | ||||||||||
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Small-Cap Equity Fund | Schwab International Core Equity Fund | |||||||
Schwab Target 2010 Fund | 0.2% | 0.1% | 0.2% | 0.3% | ||||||
Schwab Target 2015 Fund | 0.4% | 0.2% | 0.3% | 0.6% | ||||||
Schwab Target 2020 Fund | 2.2% | 1.2% | 2.1% | 4.3% | ||||||
Schwab Target 2025 Fund | 1.9% | 1.1% | 2.0% | 3.9% | ||||||
Schwab Target 2030 Fund | 4.1% | 2.4% | 4.8% | 8.4% | ||||||
Schwab Target 2035 Fund | 1.9% | 1.1% | 2.4% | 3.9% | ||||||
Schwab Target 2040 Fund | 5.0% | 2.8% | 6.9% | 10.6% | ||||||
Schwab Target 2045 Fund | 0.4% | 0.2% | 0.6% | 0.9% | ||||||
Schwab Target 2050 Fund | 0.3% | 0.2% | 0.5% | 0.7% | ||||||
Schwab Target 2055 Fund | 0.2% | 0.1% | 0.3% | 0.4% | ||||||
Schwab Monthly Income Fund - Moderate Payout | —% | 0.7% | —% | —% | ||||||
Schwab Monthly Income Fund - Enhanced Payout | —% | 1.0% | —% | —% | ||||||
Schwab Monthly Income Fund - Maximum Payout | —% | 0.3% | —% | —% | ||||||
Schwab Balanced Fund | 4.5% | —% | —% | —% |
Purchases of Securities | Sales/Maturities of Securities | ||
Schwab Core Equity Fund | $1,867,504,144 | $1,913,289,700 | |
Schwab Dividend Equity Fund | 1,393,105,790 | 1,534,588,584 | |
Schwab Large-Cap Growth Fund | 227,866,564 | 248,721,617 | |
Schwab Small-Cap Equity Fund | 630,519,263 | 682,891,970 | |
Schwab Hedged Equity Fund* | 295,858,373 | 300,024,559 | |
Schwab Financial Services Fund | 40,319,174 | 45,141,084 | |
Schwab Health Care Fund | 865,868,242 | 851,219,345 | |
Schwab International Core Equity Fund | 734,614,763 | 477,058,730 |
* | Including securities sold short. |
Contract Values | Number of Contracts | ||
Schwab Core Equity Fund | $12,635,663 | 124 | |
Schwab Dividend Equity Fund | 10,175,755 | 100 | |
Schwab Large-Cap Growth Fund | 1,449,570 | 14 | |
Schwab Small-Cap Equity Fund | 2,995,964 | 25 | |
Schwab Hedged Equity Fund | 983,013 | 10 | |
Schwab Financial Services Fund | 474,677 | 5 | |
Schwab Health Care Fund | 5,044,921 | 49 | |
Schwab International Core Equity Fund | 7,423,432 | 82 |
Schwab International Core Equity Fund | |
Equity Index Futures Contracts | |
Realized Gains (Losses)1 | ($410,333) |
Change in Unrealized Appreciation (Depreciation)2 | (112,226) |
Forward Foreign Currency Exchange Contracts | |
Realized Gains (Losses)1 | $1,546 |
Change in Unrealized Appreciation (Depreciation)2 | — |
1 | Statement of Operations location: Net realized gains (losses) on futures contracts and net realized gains (losses) on foreign currency transactions. |
2 | Statement of Operations location: Net change in unrealized appreciation (depreciation) on futures contracts and net change in unrealized appreciation (depreciation) on foreign currency translations. |
Current Period (11/1/14-10/31/15) | Prior Period (11/1/13-10/31/14) | ||
Schwab Core Equity Fund | $22,991 | $14,486 | |
Schwab Dividend Equity Fund | 17,039 | 41,450 | |
Schwab Large-Cap Growth Fund | 5,458 | 3,756 | |
Schwab Small-Cap Equity Fund | 13,614 | 23,409 | |
Schwab Hedged Equity Fund | 8,264 | 3,590 | |
Schwab Financial Services Fund | 4,975 | 3,411 | |
Schwab Health Care Fund | 54,580 | 39,555 | |
Schwab International Core Equity Fund | 15,500 | 21,857 |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |||||
Undistributed ordinary income | $77,031,509 | $34,855,402 | $9,662,887 | $11,391,353 | $3,917,207 | ||||
Undistributed long-term capital gains | 245,370,769 | 161,290,992 | 25,040,220 | 64,496,426 | 15,501,729 | ||||
Unrealized appreciation on investments | 350,191,830 | 207,248,267 | 41,286,810 | 80,270,566 | 25,509,676 | ||||
Unrealized depreciation on investments | (66,140,264) | (85,701,934) | (9,918,903) | (62,863,253) | (14,434,894) | ||||
Other unrealized appreciation (depreciation) | — | — | — | — | 5,956,103 | ||||
Net unrealized appreciation (depreciation) | $284,051,566 | $121,546,333 | $31,367,907 | $17,407,313 | $17,030,885 |
Schwab Financial Services Fund | Schwab Health Care Fund | Schwab International Core Equity Fund | |||
Undistributed ordinary income | $584,314 | $60,493,381 | $12,415,100 | ||
Undistributed long-term capital gains | — | 94,804,875 | — | ||
Unrealized appreciation on investments | 12,705,977 | 237,777,964 | 39,674,721 | ||
Unrealized depreciation on investments | (1,405,563) | (35,106,052) | (37,535,111) | ||
Other unrealized appreciation (depreciation) | — | (60,733) | (17,179) | ||
Net unrealized appreciation (depreciation) | $11,300,414 | $202,611,179 | $2,122,431 |
Expiration Date | Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |||||
October 31, 2016 | $9,727,766 | $— | $— | $— | $— | |||||
October 31, 2017 | 1,636,580 | — | — | — | — | |||||
Total | $11,364,346** | $— | $— | $— | $— |
Expiration Date | Schwab Financial Services Fund | Schwab Health Care Fund | Schwab International Core Equity Fund | |||
October 31, 2017 | $17,740,785 | $— | $— | |||
October 31, 2018 | 170,394 | — | — | |||
October 31, 2019 | — | — | 7,906,336 | |||
No expiration* | — | — | 5,159,909 | |||
Total | $17,911,179 | $— | $13,066,245** |
* | As a result of the passage of the Regulated Investment Company Modernization Act of 2010, capital losses incurred after December 31, 2010 may now be carried forward indefinitely, but must retain the character of the original loss. |
** | The Schwab Core Equity Fund and Schwab International Core Equity Fund have capital loss carryforwards acquired via mergers, which are subject to certain annual limitations in regard to availability to offset potential future capital gains. |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |||||
Capital loss carryforwards utilized | $9,727,768 | $— | $— | $— | $— | ||||
Capital losses expired | 872,465 | — | — | — | — |
Schwab Financial Services Fund | Schwab Health Care Fund | Schwab International Core Equity Fund | |||
Capital loss carryforwards utilized | $5,183,008 | $— | $— | ||
Capital losses expired | — | — | — |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |||||
Current period distributions | |||||||||
Ordinary income | $73,466,144 | $78,202,168 | $1,230,983 | $25,751,786 | $— | ||||
Long-term capital gains | 264,913,205 | 225,404,481 | 25,103,219 | 97,541,227 | 25,864,727 | ||||
Return of capital | — | — | — | — | — | ||||
Prior period distributions | |||||||||
Ordinary income | $21,200,511 | $30,034,449 | $1,490,864 | $18,663,520 | $— | ||||
Long-term capital gains | 157,596,466 | 118,279,747 | — | 39,824,590 | 15,225,593 | ||||
Return of capital | — | — | — | — | — |
Schwab Financial Services Fund | Schwab Health Care Fund | Schwab International Core Equity Fund | |||
Current period distributions | |||||
Ordinary income | $634,213 | $57,907,541 | $6,699,187 | ||
Long-term capital gains | — | 72,753,677 | 8,245,752 | ||
Return of capital | — | — | — | ||
Prior period distributions | |||||
Ordinary income | $544,804 | $21,202,575 | $4,000,904 | ||
Long-term capital gains | — | 61,203,934 | — | ||
Return of capital | — | — | — |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |||||
Capital shares | ($872,465) | $— | $— | $— | ($1,649,544) | ||||
Undistributed net investment income | (1,449,095) | (2,066,238) | (84,517) | (139,024) | 2,585,645 | ||||
Net realized capital gains (losses) | 2,321,560 | 2,066,238 | 84,517 | 139,024 | (936,101) |
Schwab Financial Services Fund | Schwab Health Care Fund | Schwab International Core Equity Fund | |||
Capital shares | ($129) | $— | $— | ||
Undistributed net investment income | (50,085) | (53,813) | 2,843,833 | ||
Net realized capital gains (losses) | 50,214 | 53,813 | (2,843,833) |
Schwab Core Equity Fund
Schwab Dividend Equity Fund
Schwab Large-Cap Growth Fund
Schwab Small-Cap Equity Fund
Schwab Hedged Equity Fund
Schwab Financial Services Fund
Schwab Health Care Fund
Schwab International Core Equity Fund
San Francisco, California
December 16, 2015
Percentage | |
Schwab Core Equity Fund | 60.47 |
Schwab Dividend Equity Fund | 62.98 |
Schwab Large-Cap Growth Fund | 86.78 |
Schwab Small-Cap Equity Fund | 17.59 |
Schwab Hedged Equity Fund | — |
Schwab Financial Services Fund | 100.00 |
Schwab Health Care Fund | 18.85 |
Schwab International Core Equity Fund | — |
Schwab Core Equity Fund | $44,611,853 |
Schwab Dividend Equity Fund | 49,794,096 |
Schwab Large-Cap Growth Fund | 1,071,848 |
Schwab Small-Cap Equity Fund | 4,647,718 |
Schwab Hedged Equity Fund | — |
Schwab Financial Services Fund | 634,213 |
Schwab Health Care Fund | 15,600,980 |
Schwab International Core Equity Fund | 8,181,924 |
Schwab Core Equity Fund | $264,913,205 |
Schwab Dividend Equity Fund | 225,404,481 |
Schwab Large-Cap Growth Fund | 25,103,219 |
Schwab Small-Cap Equity Fund | 97,541,227 |
Schwab Hedged Equity Fund | 25,864,727 |
Schwab Financial Services Fund | — |
Schwab Health Care Fund | 72,753,677 |
Schwab International Core Equity Fund | 8,245,752 |
The Investment Company Act of 1940 (the 1940 Act) requires that initial approval of, as well as the continuation of, a fund’s investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or “interested persons” of any party (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund’s trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.
1. | the nature, extent and quality of the services provided to the Funds under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 74 | Director, Gilead Sciences, Inc. (2005 – present) |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Private Investor. | 74 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013) | 74 | Director, KLA-Tencor Corporation (2008 – present) |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 95 | None |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 74 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 74 | Board Member and Chairman of the Audit Committee, Isis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Charles R. Schwab2 1937 Chairman and Trustee (Chairman and Trustee of The Charles Schwab Family of Funds since 1989; Schwab Investments since 1991; Schwab Capital Trust since 1993; Schwab Annuity Portfolios since 1994; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman and Director, The Charles Schwab Corporation (1986 – present); Chairman and Director of Charles Schwab & Co., Inc. (1971 – present); Chairman and Director of Charles Schwab Investment Management, Inc. (1989 – present); Chairman and Director of Charles Schwab Bank (2003 – present); Chairman and Chief Executive Officer of Schwab (SIS) Holdings Inc. I and Schwab International Holdings, Inc. (1996 – present); and Director, Chairman and Chief Executive Officer, Schwab Holdings, Inc. (1979 – present). | 74 | Chairman and Director, The Charles Schwab Corporation (1986 – present) Director, Yahoo! Inc. (2014 – present) |
Walter W. Bettinger II2 1960 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (2008 – present); Director, Charles Schwab Bank (2006 – present); and Director, Schwab Holdings, Inc. (2008 – present). | 95 | Director, The Charles Schwab Corporation (2008 – present) |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
George Pereira 1964 Treasurer and Principal Financial Officer, Schwab Funds Treasurer and Chief Financial Officer, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust and Laudus Institutional Trust since 2006) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – present); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – present) and Schwab ETFs (Oct. 2009 – present); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (April 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – April 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (April 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (April 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (April 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2005) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Trustees remain in office until they resign, retire or are removed by shareholder vote. The Schwab and Laudus Funds’ retirement policy requires that independent trustees retire at age 72 or after twenty years as a trustee, whichever comes first. In addition, the retirement policy requires any independent trustee of Schwab Funds or Laudus Funds to retire from all Boards upon their required retirement date from either Board. |
2 | Mr. Schwab and Mr. Bettinger are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Boards. |
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Table of Contents
US Large Company Index Fund
US Small Company Index Fund
International Large Company
Index Fund
International Small Company
Index Fund
Emerging Markets Large
Company Index Fund
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* | SCHWAB is a registered trademark of Charles Schwab & Co., Inc. FUNDAMENTAL INDEX is a registered trademark of Research Affiliates LLC. |
US Large Company Index Fund
US Small Company Index Fund
International Large Company
Index Fund
International Small Company
Index Fund
Emerging Markets Large
Company Index Fund
* | SCHWAB is a registered trademark of Charles Schwab & Co., Inc. FUNDAMENTAL INDEX is a registered trademark of Research Affiliates LLC. |
2 | |
3 | |
5 | |
Performance and Fund Facts | |
6 | |
8 | |
10 | |
12 | |
14 | |
16 | |
Financial Statements and Condensed Portfolio Holdings | |
17 | |
24 | |
31 | |
39 | |
48 | |
55 | |
67 | |
68 | |
69 | |
71 | |
74 |
Total Return for the 12 Months Ended October 31, 2015 | |
Schwab Fundamental US Large Company Index Fund (Ticker Symbol: SFLNX) | 1.44% |
Russell Fundamental U.S. Large Company Index | 1.77% |
Fund Category: Morningstar Large Value | 0.37% |
Performance Details | pages 6-7 |
Schwab Fundamental US Small Company Index Fund (Ticker Symbol: SFSNX) | 1.01% |
Russell Fundamental U.S. Small Company Index | 1.30% |
Fund Category: Morningstar Small Blend | -0.45% |
Performance Details | pages 8-9 |
Schwab Fundamental International Large Company Index Fund1 (Ticker Symbol: SFNNX) | -4.07% |
Russell Fundamental Developed ex-U.S. Large Company Index (Net)2 | -2.92% |
Fund Category: Morningstar Foreign Large Value | -3.41% |
Performance Details | pages 10-11 |
Total Return for the 12 Months Ended October 31, 2015 | |
Schwab Fundamental International Small Company Index Fund1 (Ticker Symbol: SFILX) | 3.09% |
Russell Fundamental Developed ex-U.S. Small Company Index (Net)2 | 4.90% |
Fund Category: Morningstar Foreign Small/Mid Blend | 2.51% |
Performance Details | pages 12-13 |
Schwab Fundamental Emerging Markets Large Company Index Fund1 (Ticker Symbol: SFENX) | -20.28% |
Russell Fundamental Emerging Markets Large Company Index (Net)2 | -19.46% |
Fund Category: Morningstar Diversified Emerging Markets | -14.62% |
Performance Details | pages 14-15 |
Minimum Initial Investment3 | $100 |
1 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
2 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
3 | Please see the funds' prospectus for further detail and eligibility requirements. |
1 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Agnes Hong, CFA, Vice President and Head of Passive Equities, leads the portfolio management teams of Schwab's passive equity funds and ETFs, which comprise the Schwab Equity Index Funds, the Schwab Fundamental Index Funds, and the Schwab Equity ETFs. She also has overall responsibility for all aspects of the management of the funds. Prior to joining CSIM in 2009, Ms. Hong spent five years as a portfolio manager at Barclays Global Investors (subsequently acquired by BlackRock), where she managed institutional index funds and quantitative active funds. Prior to that, Ms. Hong worked in management consulting and product management, servicing global financial services clients. |
Ferian Juwono, CFA, Managing Director and Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining CSIM in 2010, Mr. Juwono worked at BlackRock (formerly Barclays Global Investors), where he spent over three years as a portfolio manager, managing equity index funds for institutional clients, and nearly two years as a senior business analyst. Prior to that, Mr. Juwono worked for over four years as a senior financial analyst with Union Bank of California. |
Jane Qin, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental US Large Company Index Fund, Schwab Fundamental US Small Company Index Fund, Schwab Fundamental International Large Company Index Fund, and Schwab Fundamental International Small Company Index Fund. Prior to joining CSIM in 2012, Ms. Qin worked at The Bank of New York Mellon Corporation, where she spent more than two years as an associate equity portfolio manager, and nearly two years as a performance analyst. Prior to that, Ms. Qin worked at Wells Fargo Fund Management as a mutual fund analyst and at CIGNA Reinsurance as a risk analyst. |
Statistics | |
Number of Holdings | 635 |
Weighted Average Market Cap (millions) | $118,560 |
Price/Earnings Ratio (P/E) | 25.2 |
Price/Book Ratio (P/B) | 2.2 |
Portfolio Turnover Rate | 12% |
Sector Weightings % of Investments | |
Information Technology | 14.5% |
Energy | 14.3% |
Financials | 13.5% |
Consumer Discretionary | 12.8% |
Consumer Staples | 11.6% |
Health Care | 10.7% |
Industrials | 10.1% |
Utilities | 4.2% |
Telecommunication Services | 4.0% |
Materials | 3.7% |
Other | 0.6% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Exxon Mobil Corp. | 4.7% |
Chevron Corp. | 2.5% |
AT&T, Inc. | 2.5% |
Microsoft Corp. | 2.1% |
General Electric Co. | 1.5% |
Apple, Inc. | 1.5% |
The Procter & Gamble Co. | 1.4% |
JPMorgan Chase & Co. | 1.4% |
International Business Machines Corp. | 1.3% |
Intel Corp. | 1.3% |
Total | 20.2% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2,3
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Fundamental US Large Company Index Fund (4/2/07) | 1.44% | 13.38% | 7.03% |
Russell Fundamental U.S. Large Company Index3 | 1.77% | NA | NA |
Fundamental U.S. Large Company Spliced Index | 1.77% | 13.78% | 7.26% |
Fund Category: Morningstar Large Value | 0.37% | 11.70% | 4.74% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 27, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 27, 2009 is that of the fund’s former Institutional Shares. |
3 | The inception date of the Russell Fundamental U.S. Large Company Index is February 24, 2011. The fund began tracking the index on October 19, 2012. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
5 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 890 |
Weighted Average Market Cap (millions) | $4,301 |
Price/Earnings Ratio (P/E) | 47.8 |
Price/Book Ratio (P/B) | 1.8 |
Portfolio Turnover Rate | 31% |
Sector Weightings % of Investments | |
Financials | 22.4% |
Industrials | 19.6% |
Consumer Discretionary | 15.6% |
Information Technology | 13.0% |
Health Care | 6.4% |
Materials | 5.4% |
Energy | 5.1% |
Utilities | 4.1% |
Consumer Staples | 3.8% |
Telecommunication Services | 1.1% |
Other | 3.5% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Sealed Air Corp. | 0.3% |
Weight Watchers International, Inc. | 0.3% |
Masco Corp. | 0.3% |
Endurance Specialty Holdings Ltd. | 0.3% |
VeriSign, Inc. | 0.3% |
SkyWest, Inc. | 0.3% |
Netflix, Inc. | 0.3% |
Service Corp. International | 0.3% |
Lennox International, Inc. | 0.3% |
Convergys Corp. | 0.3% |
Total | 3.0% |
1 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2,3
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Fundamental US Small Company Index Fund (4/2/07) | 1.01% | 12.63% | 7.63% |
Russell Fundamental U.S. Small Company Index3 | 1.30% | NA | NA |
Fundamental U.S. Small Company Spliced Index | 1.30% | 13.04% | 8.17% |
Fund Category: Morningstar Small Blend | -0.45% | 11.37% | 5.54% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 27, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 27, 2009 is that of the fund’s former Institutional Shares. |
3 | The inception date of the Russell Fundamental U.S. Small Company Index is February 24, 2011. The fund began tracking the index on October 19, 2012. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
5 | As stated in the prospectus. The expense information shown in the table has been restated to reflect the removal of expenses incurred indirectly by the fund through its investment in business development companies (BDCs). The fund’s benchmark index no longer includes BDCs. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 844 |
Weighted Average Market Cap (millions) | $53,629 |
Price/Earnings Ratio (P/E) | 32.0 |
Price/Book Ratio (P/B) | 1.3 |
Portfolio Turnover Rate | 11% |
Sector Weightings % of Investments | |
Financials | 19.0% |
Energy | 13.0% |
Industrials | 12.5% |
Consumer Discretionary | 11.1% |
Consumer Staples | 10.2% |
Materials | 8.4% |
Telecommunication Services | 7.3% |
Health Care | 6.9% |
Utilities | 6.2% |
Information Technology | 4.0% |
Other | 1.4% |
Total | 100.0% |
Top Equity Holdings % of Net Assets2 | |
BP plc | 2.3% |
Royal Dutch Shell plc, A Shares | 2.0% |
Total S.A. | 1.9% |
Royal Dutch Shell plc, B Shares | 1.2% |
Nestle S.A. – Reg'd | 1.1% |
HSBC Holdings plc | 1.1% |
Banco Santander S.A. | 1.1% |
Eni S.p.A. | 1.0% |
Telefonica S.A. | 1.0% |
Vodafone Group plc | 0.9% |
Total | 13.6% |
1 | Typically, the securities in the index are valued using foreign exchange rates obtained at the close of the London foreign currency exchange (11:00 AM EST). Securities in the fund, however, are valued using foreign exchange rates obtained at the close of the New York foreign currency exchange (4:00 PM EST). This difference in closing times can result in different foreign currency exchange rates between the two exchanges, and thus different foreign currency exchange rates used in the valuation of the index’s and fund’s securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2,3
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Fundamental International Large Company Index Fund (4/2/07) | -4.07% | 3.37% | 0.54% |
Russell Fundamental Developed ex-U.S. Large Company Index (Net)3,5 | -2.92% | NA | NA |
Fundamental Developed ex-U.S. Large Company Spliced Index | -2.92% | 3.89% | 1.34% |
Fund Category: Morningstar Foreign Large Value | -3.41% | 3.37% | -0.40% |
Japan | 22.0% |
United Kingdom | 16.6% |
France | 10.9% |
Germany | 8.8% |
Canada | 6.3% |
Switzerland | 5.7% |
Netherlands | 5.4% |
Australia | 5.1% |
Spain | 4.1% |
Italy | 3.9% |
Other Countries | 11.2% |
Total | 100.0% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 19, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 19, 2009 is that of the fund’s former Institutional Shares. |
3 | The inception date of the Russell Fundamental Developed ex-U.S. Large Company Index (Net) is February 24, 2011. The fund began tracking the index on October 19, 2012. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
5 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
6 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 1,380 |
Weighted Average Market Cap (millions) | $3,129 |
Price/Earnings Ratio (P/E) | 28.3 |
Price/Book Ratio (P/B) | 1.4 |
Portfolio Turnover Rate | 37% |
Sector Weightings % of Investments | |
Industrials | 23.0% |
Consumer Discretionary | 18.0% |
Financials | 15.7% |
Materials | 10.6% |
Information Technology | 9.0% |
Consumer Staples | 8.2% |
Health Care | 4.6% |
Energy | 3.1% |
Telecommunication Services | 1.6% |
Utilities | 1.4% |
Other | 4.8% |
Total | 100.0% |
Top Equity Holdings % of Net Assets2 | |
iShares MSCI EAFE Small Cap ETF | 0.9% |
Koninklijke BAM Groep N.V | 0.2% |
UBISOFT Entertainment | 0.2% |
Toyota Boshoku Corp. | 0.2% |
Cable & Wireless Communications plc | 0.2% |
IT Holdings Corp. | 0.2% |
Greene King plc | 0.2% |
Nichirei Corp. | 0.2% |
Megmilk Snow Brand Co., Ltd. | 0.2% |
Toho Holdings Co., Ltd. | 0.2% |
Total | 2.7% |
1 | Typically, the securities in the index are valued using foreign exchange rates obtained at the close of the London foreign currency exchange (11:00 AM EST). Securities in the fund, however, are valued using foreign exchange rates obtained at the close of the New York foreign currency exchange (4:00 PM EST). This difference in closing times can result in different foreign currency exchange rates between the two exchanges, and thus different foreign currency exchange rates used in the valuation of the index’s and fund’s securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2,3
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Fundamental International Small Company Index Fund (1/31/08) | 3.09% | 6.25% | 4.96% |
Russell Fundamental Developed ex-U.S. Small Company Index (Net)3,5 | 4.90% | NA | NA |
Fundamental Developed ex-U.S. Small Company Spliced Index | 4.90% | 7.01% | 6.38% |
Fund Category: Morningstar Foreign Small/Mid Blend | 2.51% | 6.85% | 4.10% |
Japan | 38.7% |
United Kingdom | 12.0% |
Canada | 7.1% |
Australia | 5.2% |
United States | 4.7% |
France | 4.1% |
Germany | 3.5% |
Switzerland | 2.7% |
Italy | 2.7% |
Other Countries | 19.3% |
Total | 100.0% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 19, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 19, 2009 is that of the fund’s former Institutional Shares. |
3 | The inception date of the Russell Fundamental Developed ex-U.S. Small Company Index (Net) is February 24, 2011. The fund began tracking the index on October 19, 2012. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
5 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
6 | As stated in the prospectus. Includes acquired fund fees and expenses incurred indirectly by the fund through its investments in other investment companies. The annualized weighted average expense ratio of these investment companies was 0.02%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 296 |
Weighted Average Market Cap (millions) | $50,546 |
Price/Earnings Ratio (P/E) | 15.5 |
Price/Book Ratio (P/B) | 0.9 |
Portfolio Turnover Rate | 27% |
Sector Weightings % of Investments | |
Energy | 26.1% |
Financials | 18.9% |
Information Technology | 16.1% |
Materials | 9.8% |
Telecommunication Services | 9.6% |
Consumer Discretionary | 6.8% |
Industrials | 5.0% |
Consumer Staples | 4.0% |
Utilities | 3.7% |
Total | 100.0% |
Top Equity Holdings % of Net Assets2 | |
Samsung Electronics Co., Ltd. | 5.1% |
Gazprom PAO | 2.8% |
China Mobile Ltd. | 2.2% |
China Construction Bank Corp., Class H | 2.1% |
Industrial & Commercial Bank of China Ltd., Class H | 1.8% |
Taiwan Semiconductor Manufacturing Co., Ltd. | 1.8% |
Gazprom PAO ADR | 1.7% |
China Petroleum & Chemical Corp., Class H | 1.7% |
Hon Hai Precision Industry Co., Ltd. | 1.6% |
Petroleo Brasileiro S.A., Preferred Stock | 1.6% |
Total | 22.4% |
1 | Typically, the securities in the index are valued using foreign exchange rates obtained at the close of the London foreign currency exchange (11:00 AM EST). Securities in the fund, however, are valued using foreign exchange rates obtained at the close of the New York foreign currency exchange (4:00 PM EST). This difference in closing times can result in different foreign currency exchange rates between the two exchanges, and thus different foreign currency exchange rates used in the valuation of the index’s and fund’s securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
Performance of Hypothetical
$10,000 Investment1,2,3
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Fundamental Emerging Markets Large Company Index Fund (1/31/08) | -20.28% | -6.09% | -2.55% |
Russell Fundamental Emerging Markets Large Company Index (Net)3,5 | -19.46% | NA | NA |
Fundamental Emerging Markets Large Company Spliced Index | -19.46% | -4.92% | -0.93% |
Fund Category: Morningstar Diversified Emerging Markets | -14.62% | -2.85% | -1.22% |
Republic of Korea | 20.0% |
China | 16.5% |
Russia | 14.0% |
Brazil | 12.1% |
Taiwan | 11.9% |
South Africa | 6.1% |
India | 4.1% |
Mexico | 3.9% |
Other Countries | 11.4% |
Total | 100.0% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 19, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 19, 2009 is that of the fund’s former Institutional Shares. |
3 | The inception date of the Russell Fundamental Emerging Markets Large Company Index (Net) is February 24, 2011. The fund began tracking the index on October 19, 2012. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
5 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
6 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio1 (Annualized) | Beginning Account Value at 5/1/15 | Ending Account Value (Net of Expenses) at 10/31/15 | Expenses Paid During Period2 5/1/15–10/31/15 | |
Schwab Fundamental US Large Company Index Fund | ||||
Actual Return | 0.35% | $1,000.00 | $ 980.60 | $ 1.75 |
Hypothetical 5% Return | 0.35% | $1,000.00 | $1,023.44 | $ 1.79 |
Schwab Fundamental US Small Company Index Fund | ||||
Actual Return | 0.35% | $1,000.00 | $ 956.00 | $ 1.73 |
Hypothetical 5% Return | 0.35% | $1,000.00 | $1,023.44 | $ 1.79 |
Schwab Fundamental International Large Company Index Fund | ||||
Actual Return | 0.35% | $1,000.00 | $ 918.20 | $1.69 |
Hypothetical 5% Return | 0.35% | $1,000.00 | $1,023.44 | $ 1.79 |
Schwab Fundamental International Small Company Index Fund | ||||
Actual Return3 | 0.49% | $1,000.00 | $ 958.30 | $ 2.42 |
Hypothetical 5% Return3 | 0.49% | $1,000.00 | $ 1,022.73 | $ 2.50 |
Schwab Fundamental Emerging Markets Large Company Index Fund | ||||
Actual Return | 0.49% | $1,000.00 | $ 784.70 | $ 2.20 |
Hypothetical 5% Return | 0.49% | $1,000.00 | $ 1,022.73 | $ 2.50 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12-month period. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 365 days of the fiscal year. |
3 | The expenses incurred by the underlying funds in which the fund invests are not included in this ratio. |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.56 | $13.65 | $10.76 | $9.51 | $9.05 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.33 1 | 0.26 | 0.24 | 0.21 | 0.18 | |
Net realized and unrealized gains (losses) | (0.10) | 1.87 | 2.89 | 1.22 | 0.43 | |
Total from investment operations | 0.23 | 2.13 | 3.13 | 1.43 | 0.61 | |
Less distributions: | ||||||
Distributions from net investment income | (0.26) | (0.22) | (0.24) | (0.18) | (0.15) | |
Distributions from net realized gains | (0.39) | — | — | — | — | |
Total distributions | (0.65) | (0.22) | (0.24) | (0.18) | (0.15) | |
Net asset value at end of period | $15.14 | $15.56 | $13.65 | $10.76 | $9.51 | |
Total return | 1.44% | 15.74% | 29.67% | 15.29% | 6.74% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.35% | 0.35% | 0.35% | 0.32% 2 | 0.35% | |
Gross operating expenses | 0.39% | 0.39% | 0.41% | 0.44% | 0.44% | |
Net investment income (loss) | 2.16% | 1.95% | 2.03% | 2.13% | 2.06% | |
Portfolio turnover rate | 12% | 14% | 10% | 32% 3 | 11% | |
Net assets, end of period (x 1,000,000) | $4,886 | $4,465 | $3,020 | $1,960 | $1,490 | |
Holdings by Category | Cost ($) | Value ($) | |
99.6% | Common Stock | 3,919,296,392 | 4,864,052,589 |
0.6% | Other Investment Companies | 30,796,847 | 30,796,847 |
100.2% | Total Investments | 3,950,093,239 | 4,894,849,436 |
(0.2%) | Other Assets and Liabilities, Net | (9,185,285) | |
100.0% | Net Assets | 4,885,664,151 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Common Stock 99.6% of net assets | |||||
Automobiles & Components 1.3% | |||||
Other Securities | 1.3 | 62,177,746 | |||
Banks 5.4% | |||||
Bank of America Corp. | 2,866,194 | 1.0 | 48,094,735 | ||
Citigroup, Inc. | 685,472 | 0.7 | 36,446,546 | ||
JPMorgan Chase & Co. | 1,024,223 | 1.4 | 65,806,328 | ||
Wells Fargo & Co. | 929,263 | 1.0 | 50,310,299 | ||
Other Securities | 1.3 | 63,111,369 | |||
5.4 | 263,769,277 | ||||
Capital Goods 7.7% | |||||
3M Co. | 136,961 | 0.4 | 21,531,639 | ||
General Electric Co. | 2,508,698 | 1.5 | 72,551,546 | ||
United Technologies Corp. | 247,892 | 0.5 | 24,395,052 | ||
Other Securities | 5.3 | 256,221,250 | |||
7.7 | 374,699,487 | ||||
Commercial & Professional Supplies 0.8% | |||||
Other Securities | 0.8 | 39,625,757 | |||
Consumer Durables & Apparel 1.1% | |||||
Other Securities | 1.1 | 53,705,271 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Consumer Services 1.8% | |||||
McDonald's Corp. | 327,588 | 0.8 | 36,771,753 | ||
Other Securities | 1.0 | 49,810,253 | |||
1.8 | 86,582,006 | ||||
Diversified Financials 3.2% | |||||
Berkshire Hathaway, Inc., Class B * | 287,526 | 0.8 | 39,109,287 | ||
The Charles Schwab Corp. (a) | 81,215 | 0.1 | 2,478,682 | ||
The Goldman Sachs Group, Inc. | 122,109 | 0.4 | 22,895,437 | ||
Other Securities | 1.9 | 93,803,026 | |||
3.2 | 158,286,432 | ||||
Energy 14.4% | |||||
Chevron Corp. | 1,344,612 | 2.5 | 122,198,339 | ||
ConocoPhillips | 971,082 | 1.1 | 51,807,225 | ||
Exxon Mobil Corp. | 2,746,881 | 4.7 | 227,276,934 | ||
Occidental Petroleum Corp. | 310,600 | 0.5 | 23,152,124 | ||
Phillips 66 | 460,908 | 0.8 | 41,043,857 | ||
Schlumberger Ltd. | 296,663 | 0.5 | 23,187,180 | ||
Valero Energy Corp. | 407,166 | 0.5 | 26,840,383 | ||
Other Securities | 3.8 | 185,867,817 | |||
14.4 | 701,373,859 | ||||
Food & Staples Retailing 3.8% | |||||
Costco Wholesale Corp. | 158,663 | 0.5 | 25,087,794 | ||
CVS Health Corp. | 454,716 | 0.9 | 44,916,846 | ||
Wal-Mart Stores, Inc. | 1,001,472 | 1.2 | 57,324,257 | ||
Walgreens Boots Alliance, Inc. | 276,182 | 0.5 | 23,387,092 | ||
Other Securities | 0.7 | 33,998,449 | |||
3.8 | 184,714,438 | ||||
Food, Beverage & Tobacco 5.6% | |||||
Altria Group, Inc. | 398,216 | 0.5 | 24,080,122 | ||
PepsiCo, Inc. | 375,263 | 0.8 | 38,348,126 | ||
Philip Morris International, Inc. | 531,188 | 0.9 | 46,957,019 | ||
The Coca-Cola Co. | 887,043 | 0.8 | 37,566,271 | ||
Other Securities | 2.6 | 129,152,252 | |||
5.6 | 276,103,790 | ||||
Health Care Equipment & Services 5.3% | |||||
Anthem, Inc. | 191,150 | 0.5 | 26,598,523 | ||
UnitedHealth Group, Inc. | 321,696 | 0.8 | 37,889,355 | ||
Other Securities | 4.0 | 193,069,504 | |||
5.3 | 257,557,382 | ||||
Household & Personal Products 2.2% | |||||
The Procter & Gamble Co. | 908,535 | 1.4 | 69,393,903 | ||
Other Securities | 0.8 | 36,925,287 | |||
2.2 | 106,319,190 | ||||
Insurance 3.6% | |||||
The Travelers Cos., Inc. | 232,672 | 0.5 | 26,266,342 | ||
Other Securities | 3.1 | 151,522,877 | |||
3.6 | 177,789,219 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Materials 3.6% | |||||
Other Securities | 3.6 | 178,414,656 | |||
Media 3.6% | |||||
Comcast Corp., Class A | 471,757 | 0.6 | 29,541,423 | ||
The Walt Disney Co. | 285,662 | 0.7 | 32,491,196 | ||
Time Warner Cable, Inc. | 106,901 | 0.4 | 20,247,050 | ||
Time Warner, Inc. | 319,033 | 0.5 | 24,035,946 | ||
Other Securities | 1.4 | 67,583,339 | |||
3.6 | 173,898,954 | ||||
Pharmaceuticals, Biotechnology & Life Sciences 5.5% | |||||
Amgen, Inc. | 155,423 | 0.5 | 24,584,810 | ||
Johnson & Johnson | 589,307 | 1.2 | 59,537,686 | ||
Merck & Co., Inc. | 652,362 | 0.8 | 35,658,107 | ||
Pfizer, Inc. | 1,774,304 | 1.2 | 60,006,961 | ||
Other Securities | 1.8 | 87,576,944 | |||
5.5 | 267,364,508 | ||||
Real Estate 1.2% | |||||
Other Securities | 1.2 | 59,793,521 | |||
Retailing 5.1% | |||||
Lowe's Cos., Inc. | 358,345 | 0.6 | 26,456,611 | ||
Target Corp. | 339,783 | 0.5 | 26,224,452 | ||
The Home Depot, Inc. | 328,643 | 0.8 | 40,633,421 | ||
Other Securities | 3.2 | 156,873,829 | |||
5.1 | 250,188,313 | ||||
Semiconductors & Semiconductor Equipment 2.3% | |||||
Intel Corp. | 1,843,576 | 1.3 | 62,423,483 | ||
Other Securities | 1.0 | 51,806,185 | |||
2.3 | 114,229,668 | ||||
Software & Services 7.3% | |||||
International Business Machines Corp. | 456,301 | 1.3 | 63,918,644 | ||
Microsoft Corp. | 1,988,728 | 2.1 | 104,686,642 | ||
Oracle Corp. | 735,544 | 0.6 | 28,568,529 | ||
Other Securities | 3.3 | 158,468,145 | |||
7.3 | 355,641,960 | ||||
Technology Hardware & Equipment 4.9% | |||||
Apple, Inc. | 602,357 | 1.5 | 71,981,661 | ||
Cisco Systems, Inc. | 1,376,751 | 0.8 | 39,719,266 | ||
Hewlett-Packard Co. | 1,446,391 | 0.8 | 38,994,701 | ||
Other Securities | 1.8 | 88,167,002 | |||
4.9 | 238,862,630 | ||||
Telecommunication Services 4.0% | |||||
AT&T, Inc. | 3,570,954 | 2.5 | 119,662,669 | ||
Verizon Communications, Inc. | 1,274,849 | 1.2 | 59,764,921 | ||
Other Securities | 0.3 | 16,177,658 | |||
4.0 | 195,605,248 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Transportation 1.7% | |||||
Other Securities | 1.7 | 80,917,481 | |||
Utilities 4.2% | |||||
Other Securities | 4.2 | 206,431,796 | |||
Total Common Stock | |||||
(Cost $3,919,296,392) | 4,864,052,589 | ||||
Other Investment Companies 0.6% of net assets | |||||
Money Market Fund 0.1% | |||||
Other Securities | 0.1 | 4,910,122 | |||
Securities Lending Collateral 0.5% | |||||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (c) | 25,886,725 | 0.5 | 25,886,725 | ||
Total Other Investment Companies | |||||
(Cost $30,796,847) | 30,796,847 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $25,544,730. |
(c) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 125 | 12,960,625 | 262,110 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $4,864,052,589 | $— | $— | $4,864,052,589 | |||||
Other Investment Companies1 | 30,796,847 | — | — | 30,796,847 | |||||
Total | $4,894,849,436 | $— | $— | $4,894,849,436 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $262,110 | $— | $— | $262,110 |
1 | As categorized in the complete schedule of portfolio holdings. |
2 | Futures contracts are not included in Investments in the schedule of condensed portfolio holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $1,401,251) | $2,478,682 | |
Investments in unaffiliated issuers, at value (cost $3,922,805,263) including securities on loan of $25,544,730 | 4,866,484,029 | |
Collateral invested for securities on loan, at value (cost $25,886,725) | + | 25,886,725 |
Total investments, at value (cost $3,950,093,239) | 4,894,849,436 | |
Deposit with broker for futures contracts | 437,000 | |
Receivables: | ||
Fund shares sold | 18,631,647 | |
Dividends | 6,969,563 | |
Income from securities on loan | 20,857 | |
Prepaid expenses | + | 54,856 |
Total assets | 4,920,963,359 | |
Liabilities | ||
Collateral held for securities on loan | 25,886,725 | |
Payables: | ||
Investment adviser and administrator fees | 159,288 | |
Shareholder service fees | 113,197 | |
Fund shares redeemed | 7,861,334 | |
Variation margin on futures contracts | 33,059 | |
Accrued expenses | + | 1,245,605 |
Total liabilities | 35,299,208 | |
Net Assets | ||
Total assets | 4,920,963,359 | |
Total liabilities | – | 35,299,208 |
Net assets | $4,885,664,151 | |
Net Assets by Source | ||
Capital received from investors | 3,722,320,518 | |
Net investment income not yet distributed | 87,683,099 | |
Net realized capital gains | 130,642,227 | |
Net unrealized capital appreciation | 945,018,307 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$4,885,664,151 | 322,640,686 | $15.14 | ||
Investment Income | ||
Dividends received from affiliated issuer | $23,440 | |
Dividends received from unaffiliated issuers (net of foreign withholding taxes of $24,577) | 121,792,520 | |
Interest | 232 | |
Securities on loan | + | 724,714 |
Total investment income | 122,540,906 | |
Expenses | ||
Investment adviser and administrator fees | 11,132,940 | |
Shareholder service fees | 3,693,913 | |
Index fees | 2,988,148 | |
Transfer agent fees | 403,675 | |
Registration fees | 194,541 | |
Shareholder reports | 183,795 | |
Portfolio accounting fees | 131,650 | |
Custodian fees | 94,592 | |
Professional fees | 65,670 | |
Proxy fees | 30,906 | |
Independent trustees' fees | 30,129 | |
Interest expense | 3,604 | |
Other expenses | + | 138,716 |
Total expenses | 19,092,279 | |
Expense reduction by CSIM and its affiliates | – | 1,984,028 |
Net expenses | – | 17,108,251 |
Net investment income | 105,432,655 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on affiliated issuer | 286,540 | |
Net realized gains on unaffiliated issuers | 144,520,587 | |
Net realized gains on futures contracts | + | 2,333,938 |
Net realized gains | 147,141,065 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | (86,475) | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | (188,845,494) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (253,985) |
Net change in unrealized appreciation (depreciation) | + | (189,185,954) |
Net realized and unrealized losses | (42,044,889) | |
Increase in net assets resulting from operations | $63,387,766 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $105,432,655 | $70,401,991 | |
Net realized gains | 147,141,065 | 127,017,117 | |
Net change in unrealized appreciation (depreciation) | + | (189,185,954) | 337,814,424 |
Increase in net assets from operations | 63,387,766 | 535,233,532 | |
Distributions to Shareholders | |||
Distributions from net investment income | (76,925,735) | (47,960,089) | |
Distributions from net realized gains | + | (114,155,826) | — |
Total distributions | ($191,081,561) | ($47,960,089) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 98,386,452 | $1,496,556,101 | 144,506,228 | $2,105,376,361 | |
Shares reinvested | 7,976,908 | 122,684,844 | 2,075,077 | 29,051,072 | |
Shares redeemed | + | (70,618,440) | (1,070,631,347) | (80,931,679) | (1,177,384,046) |
Net transactions in fund shares | 35,744,920 | $548,609,598 | 65,649,626 | $957,043,387 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 286,895,766 | $4,464,748,348 | 221,246,140 | $3,020,431,518 | |
Total increase | + | 35,744,920 | 420,915,803 | 65,649,626 | 1,444,316,830 |
End of period | 322,640,686 | $4,885,664,151 | 286,895,766 | $4,464,748,348 | |
Net investment income not yet distributed | $87,683,099 | $59,284,035 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $13.51 | $12.78 | $10.31 | $10.11 | $10.10 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.18 1 | 0.14 | 0.16 | 0.15 | 0.11 | |
Net realized and unrealized gains (losses) | (0.03) | 1.23 | 3.35 | 0.88 | 0.47 | |
Total from investment operations | 0.15 | 1.37 | 3.51 | 1.03 | 0.58 | |
Less distributions: | ||||||
Distributions from net investment income | (0.16) | (0.12) | (0.20) | (0.12) | (0.10) | |
Distributions from net realized gains | (0.68) | (0.52) | (0.84) | (0.71) | (0.47) | |
Total distributions | (0.84) | (0.64) | (1.04) | (0.83) | (0.57) | |
Net asset value at end of period | $12.82 | $13.51 | $12.78 | $10.31 | $10.11 | |
Total return | 1.01% | 10.99% | 37.55% | 11.37% | 5.55% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.35% | 0.35% | 0.35% | 0.32% 2 | 0.35% | |
Gross operating expenses | 0.43% | 0.44% | 0.48% | 0.50% | 0.50% | |
Net investment income (loss) | 1.37% | 1.14% | 1.41% | 1.46% | 1.18% | |
Portfolio turnover rate | 31% | 29% | 27% | 92% 3 | 35% | |
Net assets, end of period (x 1,000,000) | $1,416 | $1,208 | $849 | $619 | $563 | |
Holdings by Category | Cost ($) | Value ($) | |
99.0% | Common Stock | 1,209,007,594 | 1,401,645,072 |
0.0% | Rights | 266,857 | 266,364 |
3.6% | Other Investment Companies | 50,350,637 | 50,350,637 |
102.6% | Total Investments | 1,259,625,088 | 1,452,262,073 |
(2.6%) | Other Assets and Liabilities, Net | (36,694,514) | |
100.0% | Net Assets | 1,415,567,559 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Common Stock 99.0% of net assets | |||||
Automobiles & Components 1.2% | |||||
Other Securities | 1.2 | 16,533,794 | |||
Banks 5.2% | |||||
Zions Bancorp | 125,500 | 0.3 | 3,610,635 | ||
Other Securities | 4.9 | 69,675,211 | |||
5.2 | 73,285,846 | ||||
Capital Goods 12.0% | |||||
General Cable Corp. | 223,200 | 0.2 | 3,435,048 | ||
Lennox International, Inc. | 29,800 | 0.3 | 3,957,738 | ||
Masco Corp. | 147,900 | 0.3 | 4,289,100 | ||
Orbital ATK, Inc. | 44,200 | 0.3 | 3,784,404 | ||
Spirit AeroSystems Holdings, Inc., Class A * | 63,000 | 0.2 | 3,322,620 | ||
Other Securities | 10.7 | 151,264,792 | |||
12.0 | 170,053,702 | ||||
Commercial & Professional Supplies 5.0% | |||||
Copart, Inc. * | 96,200 | 0.3 | 3,483,402 | ||
Other Securities | 4.7 | 66,848,579 | |||
5.0 | 70,331,981 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Consumer Durables & Apparel 3.2% | |||||
D.R. Horton, Inc. | 132,300 | 0.3 | 3,894,912 | ||
Hanesbrands, Inc. | 104,600 | 0.2 | 3,340,924 | ||
Harman International Industries, Inc. | 32,300 | 0.2 | 3,551,708 | ||
Other Securities | 2.5 | 35,154,128 | |||
3.2 | 45,941,672 | ||||
Consumer Services 4.5% | |||||
Service Corp. International | 144,300 | 0.3 | 4,077,918 | ||
Weight Watchers International, Inc. *(a) | 292,192 | 0.3 | 4,493,913 | ||
Other Securities | 3.9 | 55,015,381 | |||
4.5 | 63,587,212 | ||||
Diversified Financials 3.8% | |||||
E*TRADE Financial Corp. * | 126,500 | 0.3 | 3,606,515 | ||
SEI Investments Co. | 68,300 | 0.2 | 3,539,306 | ||
TD Ameritrade Holding Corp. | 96,900 | 0.2 | 3,340,143 | ||
Other Securities | 3.1 | 43,464,646 | |||
3.8 | 53,950,610 | ||||
Energy 5.2% | |||||
McDermott International, Inc. * | 784,600 | 0.2 | 3,617,006 | ||
Western Refining, Inc. | 89,300 | 0.3 | 3,716,666 | ||
WPX Energy, Inc. * | 531,100 | 0.3 | 3,643,346 | ||
Other Securities | 4.4 | 62,674,689 | |||
5.2 | 73,651,707 | ||||
Food & Staples Retailing 0.9% | |||||
Other Securities | 0.9 | 12,743,638 | |||
Food, Beverage & Tobacco 2.6% | |||||
Flowers Foods, Inc. | 135,250 | 0.3 | 3,651,750 | ||
Fresh Del Monte Produce, Inc. | 75,900 | 0.2 | 3,463,317 | ||
Universal Corp. | 71,000 | 0.3 | 3,834,710 | ||
Other Securities | 1.8 | 26,004,556 | |||
2.6 | 36,954,333 | ||||
Health Care Equipment & Services 4.6% | |||||
STERIS Corp. (a) | 52,300 | 0.3 | 3,919,885 | ||
Other Securities | 4.3 | 60,965,347 | |||
4.6 | 64,885,232 | ||||
Household & Personal Products 0.4% | |||||
Other Securities | 0.4 | 5,379,904 | |||
Insurance 4.0% | |||||
Aspen Insurance Holdings Ltd. | 73,200 | 0.2 | 3,558,252 | ||
CNO Financial Group, Inc. | 200,500 | 0.3 | 3,851,605 | ||
Endurance Specialty Holdings Ltd. | 67,696 | 0.3 | 4,273,648 | ||
Primerica, Inc. | 73,800 | 0.2 | 3,515,094 | ||
StanCorp Financial Group, Inc. | 34,200 | 0.3 | 3,923,424 | ||
Other Securities | 2.7 | 38,204,156 | |||
4.0 | 57,326,179 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Materials 5.5% | |||||
Crown Holdings, Inc. * | 71,800 | 0.3 | 3,808,272 | ||
Martin Marietta Materials, Inc. | 22,200 | 0.2 | 3,444,330 | ||
Sealed Air Corp. | 93,000 | 0.3 | 4,568,160 | ||
Other Securities | 4.7 | 66,889,957 | |||
5.5 | 78,710,719 | ||||
Media 1.8% | |||||
Other Securities | 1.8 | 26,137,793 | |||
Pharmaceuticals, Biotechnology & Life Sciences 2.0% | |||||
Other Securities | 2.0 | 28,374,867 | |||
Real Estate 9.9% | |||||
Duke Realty Corp. | 159,300 | 0.2 | 3,297,510 | ||
Jones Lang LaSalle, Inc. | 21,900 | 0.3 | 3,650,949 | ||
Liberty Property Trust | 100,300 | 0.3 | 3,412,206 | ||
Mack-Cali Realty Corp. | 150,300 | 0.2 | 3,270,528 | ||
Piedmont Office Realty Trust, Inc., Class A | 174,900 | 0.2 | 3,389,562 | ||
Rayonier, Inc. | 148,400 | 0.2 | 3,361,260 | ||
Other Securities | 8.5 | 120,176,901 | |||
9.9 | 140,558,916 | ||||
Retailing 5.3% | |||||
Group 1 Automotive, Inc. | 39,100 | 0.3 | 3,399,745 | ||
Netflix, Inc. * | 37,840 | 0.3 | 4,101,099 | ||
Other Securities | 4.7 | 67,060,937 | |||
5.3 | 74,561,781 | ||||
Semiconductors & Semiconductor Equipment 3.0% | |||||
First Solar, Inc. * | 62,200 | 0.3 | 3,549,754 | ||
Other Securities | 2.7 | 38,558,884 | |||
3.0 | 42,108,638 | ||||
Software & Services 5.5% | |||||
Convergys Corp. | 153,300 | 0.3 | 3,935,211 | ||
Science Applications International Corp. | 72,400 | 0.2 | 3,320,264 | ||
VeriSign, Inc. * | 52,900 | 0.3 | 4,263,740 | ||
Other Securities | 4.7 | 65,853,378 | |||
5.5 | 77,372,593 | ||||
Technology Hardware & Equipment 4.9% | |||||
Other Securities | 4.9 | 69,537,499 | |||
Telecommunication Services 1.2% | |||||
Other Securities | 1.2 | 16,517,203 | |||
Transportation 3.1% | |||||
American Airlines Group, Inc. | 73,100 | 0.2 | 3,378,682 | ||
SkyWest, Inc. | 216,900 | 0.3 | 4,129,776 | ||
Southwest Airlines Co. | 76,600 | 0.3 | 3,545,814 | ||
Other Securities | 2.3 | 32,565,398 | |||
3.1 | 43,619,670 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Utilities 4.2% | |||||
Piedmont Natural Gas Co., Inc. | 64,800 | 0.3 | 3,713,688 | ||
Portland General Electric Co. | 88,800 | 0.2 | 3,292,704 | ||
WGL Holdings, Inc. | 55,400 | 0.2 | 3,447,542 | ||
Other Securities | 3.5 | 49,065,649 | |||
4.2 | 59,519,583 | ||||
Total Common Stock | |||||
(Cost $1,209,007,594) | 1,401,645,072 | ||||
Rights 0.0% of net assets | |||||
Technology Hardware & Equipment 0.0% | |||||
Other Securities | 0.0 | — | |||
Telecommunication Services 0.0% | |||||
Other Securities | 0.0 | 266,364 | |||
Total Rights | |||||
(Cost $266,857) | 266,364 | ||||
Other Investment Companies 3.6% of net assets | |||||
Money Market Fund 0.6% | |||||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (d) | 7,676,787 | 0.6 | 7,676,787 | ||
Securities Lending Collateral 3.0% | |||||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (d) | 42,673,850 | 3.0 | 42,673,850 | ||
Total Other Investment Companies | |||||
(Cost $50,350,637) | 50,350,637 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $41,236,990. |
(b) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(c) | Illiquid security. At the period end, the value of these amounted to $266,364 or 0.0% of net assets. |
(d) | The rate shown is the 7-day yield. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/18/15 | 75 | 8,687,250 | 207,836 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $1,401,645,072 | $— | $— | $1,401,645,072 | |||||
Rights 1 | — | — | 266,364 | 266,364 | |||||
Other Investment Companies | 50,350,637 | — | — | 50,350,637 | |||||
Total | $1,451,995,709 | $— | $266,364 | $1,452,262,073 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $207,836 | $— | $— | $207,836 |
1 | As categorized in the complete schedule of portfolio holdings. |
2 | Futures contracts are not included in Investments in the schedule of condensed portfolio holdings and are valued at unrealized appreciation or depreciation. |
Investments in Securities | Balance as of October 31, 2014 | Realized Gains (Losses) | Change in Unrealized Appreciation (Depreciation) | Gross Purchases | Gross Sales | Gross Transfers in | Gross Transfers out | Balance as of Oct 31, 2015 | ||||||||
Rights | $266,364 | $— | $— | $— | $— | $— | $— | $266,364 | ||||||||
Total | $266,364 | $— | $— | $— | $— | $— | $— | $266,364 |
Assets | ||
Investments, at value (cost $1,216,951,238) including securities on loan of $41,236,990 | $1,409,588,223 | |
Collateral invested for securities on loan, at value (cost $42,673,850) | + | 42,673,850 |
Total investments, at value (cost $1,259,625,088) | 1,452,262,073 | |
Foreign currency, at value (cost $34) | 25 | |
Deposit with broker for futures contracts | 1,300,500 | |
Receivables: | ||
Investments sold | 5,210,605 | |
Fund shares sold | 1,356,065 | |
Dividends | 859,179 | |
Income from securities on loan | 53,900 | |
Prepaid expenses | + | 18,573 |
Total assets | 1,461,060,920 | |
Liabilities | ||
Collateral held for securities on loan | 42,673,850 | |
Payables: | ||
Investments bought | 1,527,321 | |
Investment adviser and administrator fees | 41,017 | |
Shareholder service fees | 22,015 | |
Fund shares redeemed | 779,807 | |
Variation margin on futures contracts | 19,500 | |
Accrued expenses | + | 429,851 |
Total liabilities | 45,493,361 | |
Net Assets | ||
Total assets | 1,461,060,920 | |
Total liabilities | – | 45,493,361 |
Net assets | $1,415,567,559 | |
Net Assets by Source | ||
Capital received from investors | 1,153,062,058 | |
Net investment income not yet distributed | 14,165,949 | |
Net realized capital gains | 55,494,740 | |
Net unrealized capital appreciation | 192,844,812 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,415,567,559 | 110,396,474 | $12.82 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $9,283) | $22,374,808 | |
Interest | 71 | |
Securities on loan | + | 2,035,976 |
Total investment income | 24,410,855 | |
Expenses | ||
Investment adviser and administrator fees | 3,513,844 | |
Shareholder service fees | 1,267,369 | |
Index fees | 866,923 | |
Transfer agent fees | 88,583 | |
Portfolio accounting fees | 76,638 | |
Registration fees | 73,574 | |
Shareholder reports | 56,039 | |
Custodian fees | 50,538 | |
Professional fees | 45,766 | |
Independent trustees' fees | 13,537 | |
Proxy fees | 11,032 | |
Interest expense | 886 | |
Other expenses | + | 28,966 |
Total expenses | 6,093,695 | |
Expense reduction by CSIM and its affiliates | – | 1,128,219 |
Net expenses | – | 4,965,476 |
Net investment income | 19,445,379 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 59,348,184 | |
Net realized gains on futures contracts | 1,393,488 | |
Net realized losses on foreign currency transactions | + | (330) |
Net realized gains | 60,741,342 | |
Net change in unrealized appreciation (depreciation) on investments | (72,608,133) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 143,874 |
Net change in unrealized appreciation (depreciation) | + | (72,464,259) |
Net realized and unrealized losses | (11,722,917) | |
Increase in net assets resulting from operations | $7,722,462 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $19,445,379 | $12,487,752 | |
Net realized gains | 60,741,342 | 58,394,089 | |
Net change in unrealized appreciation (depreciation) | + | (72,464,259) | 37,889,684 |
Increase in net assets from operations | 7,722,462 | 108,771,525 | |
Distributions to Shareholders | |||
Distributions from net investment income | (14,333,166) | (8,210,484) | |
Distributions from net realized gains | + | (60,933,871) | (37,238,379) |
Total distributions | ($75,267,037) | ($45,448,863) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 39,068,787 | $512,965,419 | 40,867,612 | $529,827,506 | |
Shares reinvested | 3,422,676 | 44,597,473 | 1,787,741 | 22,900,966 | |
Shares redeemed | + | (21,506,579) | (281,966,672) | (19,718,745) | (257,947,641) |
Net transactions in fund shares | 20,984,884 | $275,596,220 | 22,936,608 | $294,780,831 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 89,411,590 | $1,207,515,914 | 66,474,982 | $849,412,421 | |
Total increase | + | 20,984,884 | 208,051,645 | 22,936,608 | 358,103,493 |
End of period | 110,396,474 | $1,415,567,559 | 89,411,590 | $1,207,515,914 | |
Net investment income not yet distributed | $14,165,949 | $9,628,136 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $8.84 | $9.05 | $7.16 | $7.26 | $8.09 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.25 1 | 0.30 | 0.23 | 0.22 | 0.23 | |
Net realized and unrealized gains (losses) | (0.60) | (0.26) | 1.87 | (0.08) 2 | (0.85) | |
Total from investment operations | (0.35) | 0.04 | 2.10 | 0.14 | (0.62) | |
Less distributions: | ||||||
Distributions from net investment income | (0.30) | (0.25) | (0.21) | (0.24) | (0.21) | |
Net asset value at end of period | $8.19 | $8.84 | $9.05 | $7.16 | $7.26 | |
Total return | (4.07%) | 0.39% | 30.12% | 2.24% | (7.88%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.35% | 0.35% | 0.34% 3 | 0.31% 3 | 0.35% | |
Gross operating expenses | 0.46% | 0.48% | 0.52% | 0.56% | 0.57% | |
Net investment income (loss) | 2.96% | 3.52% | 2.95% | 3.58% | 3.24% | |
Portfolio turnover rate | 11% | 8% | 22% | 61% 4 | 35% | |
Net assets, end of period (x 1,000,000) | $1,173 | $908 | $646 | $501 | $372 | |
Holdings by Category | Cost ($) | Value ($) | |
98.8% | Common Stock | 1,164,973,487 | 1,158,703,379 |
0.5% | Preferred Stock | 6,784,733 | 5,910,863 |
0.0% | Rights | 127,301 | 123,592 |
1.3% | Other Investment Company | 15,802,505 | 15,802,505 |
0.1% | Short-Term Investment | 864,326 | 864,326 |
100.7% | Total Investments | 1,188,552,352 | 1,181,404,665 |
(0.7%) | Other Assets and Liabilities, Net | (8,321,923) | |
100.0% | Net Assets | 1,173,082,742 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Common Stock 98.8% of net assets | |||||
Australia 5.1% | |||||
BHP Billiton Ltd. | 412,632 | 0.6 | 6,767,469 | ||
Commonwealth Bank of Australia | 97,070 | 0.4 | 5,270,703 | ||
Wesfarmers Ltd. | 160,979 | 0.4 | 4,501,665 | ||
Westpac Banking Corp. | 209,446 | 0.4 | 4,665,202 | ||
Other Securities | 3.3 | 38,961,971 | |||
5.1 | 60,167,010 | ||||
Austria 0.4% | |||||
Other Securities | 0.4 | 4,271,572 | |||
Belgium 1.0% | |||||
Other Securities | 1.0 | 11,579,594 | |||
Canada 6.3% | |||||
Royal Bank of Canada | 84,744 | 0.4 | 4,845,755 | ||
Suncor Energy, Inc. | 166,359 | 0.4 | 4,950,313 | ||
Other Securities | 5.5 | 64,540,150 | |||
6.3 | 74,336,218 | ||||
Denmark 0.8% | |||||
Other Securities | 0.8 | 9,039,585 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Finland 1.0% | |||||
Other Securities | 1.0 | 11,604,212 | |||
France 11.0% | |||||
AXA S.A. | 179,728 | 0.4 | 4,796,601 | ||
BNP Paribas S.A. | 117,634 | 0.6 | 7,128,290 | ||
Engie (c) | 383,538 | 0.6 | 6,712,220 | ||
Orange S.A. | 516,562 | 0.8 | 9,107,863 | ||
Sanofi | 96,811 | 0.8 | 9,765,889 | ||
Total S.A. | 466,331 | 1.9 | 22,551,216 | ||
Vivendi S.A. | 202,701 | 0.4 | 4,876,339 | ||
Other Securities | 5.5 | 64,273,922 | |||
11.0 | 129,212,340 | ||||
Germany 8.6% | |||||
Allianz SE - Reg'd | 38,556 | 0.6 | 6,749,911 | ||
BASF SE | 110,002 | 0.8 | 9,011,785 | ||
Bayer AG - Reg'd | 44,027 | 0.5 | 5,870,358 | ||
Daimler AG - Reg'd | 95,404 | 0.7 | 8,272,836 | ||
Deutsche Telekom AG - Reg'd | 463,033 | 0.7 | 8,673,342 | ||
E.ON SE | 669,128 | 0.6 | 7,058,734 | ||
Siemens AG - Reg'd | 76,537 | 0.7 | 7,687,693 | ||
Other Securities | 4.0 | 47,144,807 | |||
8.6 | 100,469,466 | ||||
Hong Kong 1.0% | |||||
Other Securities | 1.0 | 11,634,785 | |||
Ireland 0.6% | |||||
Other Securities | 0.6 | 6,714,913 | |||
Israel 0.4% | |||||
Other Securities | 0.4 | 5,156,126 | |||
Italy 3.8% | |||||
Enel S.p.A. | 1,550,674 | 0.6 | 7,150,679 | ||
Eni S.p.A. | 718,833 | 1.0 | 11,738,720 | ||
Intesa Sanpaolo S.p.A. | 1,356,796 | 0.4 | 4,720,368 | ||
UniCredit S.p.A. | 841,112 | 0.5 | 5,431,115 | ||
Other Securities | 1.3 | 15,279,666 | |||
3.8 | 44,320,548 | ||||
Japan 22.1% | |||||
Hitachi Ltd. | 775,000 | 0.4 | 4,470,812 | ||
Honda Motor Co., Ltd. | 203,400 | 0.6 | 6,728,561 | ||
Mitsubishi UFJ Financial Group, Inc. | 814,834 | 0.4 | 5,269,963 | ||
Nippon Telegraph & Telephone Corp. | 170,608 | 0.5 | 6,254,722 | ||
Toyota Motor Corp. | 173,200 | 0.9 | 10,610,999 | ||
Other Securities | 19.3 | 226,434,281 | |||
22.1 | 259,769,338 | ||||
Luxembourg 0.4% | |||||
Other Securities | 0.4 | 4,228,439 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Netherlands 5.5% | |||||
Royal Dutch Shell plc, A Shares | 884,646 | 2.0 | 23,173,671 | ||
Royal Dutch Shell plc, B Shares | 550,217 | 1.2 | 14,407,369 | ||
Other Securities | 2.3 | 26,443,011 | |||
5.5 | 64,024,051 | ||||
New Zealand 0.1% | |||||
Other Securities | 0.1 | 1,540,499 | |||
Norway 0.9% | |||||
Statoil A.S.A. | 331,631 | 0.4 | 5,360,569 | ||
Other Securities | 0.5 | 5,394,623 | |||
0.9 | 10,755,192 | ||||
Portugal 0.3% | |||||
Other Securities | 0.3 | 3,233,673 | |||
Singapore 0.8% | |||||
Other Securities | 0.8 | 9,815,204 | |||
Spain 4.1% | |||||
Banco Bilbao Vizcaya Argentaria S.A. | 621,803 | 0.4 | 5,349,751 | ||
Banco Santander S.A. | 2,253,845 | 1.1 | 12,590,425 | ||
Iberdrola S.A. | 663,854 | 0.4 | 4,734,035 | ||
Telefonica S.A. | 879,734 | 1.0 | 11,606,629 | ||
Other Securities | 1.2 | 14,450,838 | |||
4.1 | 48,731,678 | ||||
Sweden 2.2% | |||||
Other Securities | 2.2 | 25,599,204 | |||
Switzerland 5.7% | |||||
Nestle S.A. - Reg'd | 175,273 | 1.1 | 13,386,289 | ||
Novartis AG - Reg'd | 109,357 | 0.9 | 9,906,503 | ||
Roche Holding AG | 29,908 | 0.7 | 8,119,988 | ||
Other Securities | 3.0 | 35,242,904 | |||
5.7 | 66,655,684 | ||||
United Kingdom 16.7% | |||||
AstraZeneca plc | 124,668 | 0.7 | 7,945,402 | ||
Barclays plc | 1,549,673 | 0.5 | 5,521,143 | ||
BG Group plc | 277,130 | 0.4 | 4,378,243 | ||
BP plc | 4,563,325 | 2.3 | 27,119,774 | ||
British American Tobacco plc | 122,825 | 0.6 | 7,296,978 | ||
GlaxoSmithKline plc | 433,663 | 0.8 | 9,352,249 | ||
HSBC Holdings plc | 1,691,283 | 1.1 | 13,213,936 | ||
Rio Tinto plc | 142,295 | 0.5 | 5,185,973 | ||
Tesco plc * | 2,144,110 | 0.5 | 6,047,028 | ||
Vodafone Group plc | 3,302,898 | 0.9 | 10,869,613 | ||
Other Securities | 8.4 | 98,913,709 | |||
16.7 | 195,844,048 | ||||
Total Common Stock | |||||
(Cost $1,164,973,487) | 1,158,703,379 | ||||
Security | Number of Shares | % of Net Assets | Value ($) | ||
Preferred Stock 0.5% of net assets | |||||
Germany 0.3% | |||||
Other Securities | 0.3 | 3,868,926 | |||
Italy 0.2% | |||||
Other Securities | 0.2 | 2,020,775 | |||
United Kingdom 0.0% | |||||
Other Securities | 0.0 | 21,162 | |||
Total Preferred Stock | |||||
(Cost $6,784,733) | 5,910,863 | ||||
Rights 0.0% of net assets | |||||
Spain 0.0% | |||||
Banks 0.0% | |||||
Other Securities | 0.0 | 123,592 | |||
Total Rights | |||||
(Cost $127,301) | 123,592 | ||||
Other Investment Company 1.3% of net assets | |||||
United States 1.3% | |||||
Securities Lending Collateral 1.3% | |||||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (d) | 15,802,505 | 1.3 | 15,802,505 | ||
Total Other Investment Company | |||||
(Cost $15,802,505) | 15,802,505 | ||||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | ||
Short-Term Investment 0.1% of net assets | |||||
Time Deposit 0.1% | |||||
Other Securities | 0.1 | 864,326 | |||
Total Short-Term Investment | |||||
(Cost $864,326) | 864,326 |
* | Non-income producing security. |
(a) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(b) | Illiquid security. At the period end, the value of these amounted to $0 or 0.0% of net assets. |
(c) | All or a portion of this security is on loan. Securities on loan were valued at $14,961,672. |
(d) | The rate shown is the 7-day yield. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
SDR — | Swedish Depositary Receipt |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/18/15 | 52 | 4,568,460 | 9,419 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $— | $647,157,248 | $— | $647,157,248 | |||||
Australia | 699,236 | 59,467,774 | — | 60,167,010 | |||||
Canada | 74,336,218 | — | — | 74,336,218 | |||||
Ireland | 1,195,731 | 5,519,182 | — | 6,714,913 | |||||
Israel | 339,760 | 4,816,366 | — | 5,156,126 | |||||
Netherlands | 7,516,283 | 56,507,768 | — | 64,024,051 | |||||
Portugal | 661,029 | 2,572,644 | — | 3,233,673 | |||||
Singapore | 883,465 | 8,931,739 | — | 9,815,204 | |||||
Sweden | 820,431 | 24,778,773 | — | 25,599,204 | |||||
Switzerland | 1,353,498 | 65,302,186 | — | 66,655,684 | |||||
United Kingdom | 1,508,782 | 194,335,266 | — | 195,844,048 | |||||
Preferred Stock1 | — | 5,889,701 | — | 5,889,701 | |||||
United Kingdom | — | — | 21,162 | 21,162 | |||||
Rights 1 | 123,592 | — | — | 123,592 | |||||
Other Investment Company1 | 15,802,505 | — | — | 15,802,505 | |||||
Short-Term Investments1 | — | 864,326 | — | 864,326 | |||||
Total | $105,240,530 | $1,076,142,973 | $21,162 | $1,181,404,665 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $9,419 | $— | $— | $9,419 |
1 | As categorized in the complete schedule of portfolio holdings. |
2 | Futures contracts are not included in Investments in the schedule of condensed portfolio holdings and are valued at unrealized appreciation or depreciation. |
Investments in Securities | Balance as of October 31, 2014 | Realized Gains (Losses) | Change in Unrealized Appreciation (Depreciation) | Gross Purchases | Gross Sales | Gross Transfers in | Gross Transfers out | Balance as of October 31, 2015 | ||||||||
Preferred Stock | ||||||||||||||||
United Kingdom | $11,749 | $— | $36 | $21,165 | ($11,788) | $— | $— | $21,162 | ||||||||
Total | $11,749 | $— | $36 | $21,165 | ($11,788) | $— | $— | $21,162 |
Assets | ||
Investments, at value (cost $1,172,749,847) including securities on loan of $14,961,672 | $1,165,602,160 | |
Collateral invested for securities on loan, at value (cost $15,802,505) | + | 15,802,505 |
Total investments, at value (cost $1,188,552,352) | 1,181,404,665 | |
Foreign currency, at value (cost $135) | 135 | |
Deposit with broker for futures contracts | 585,000 | |
Receivables: | ||
Investments sold | 3,233,837 | |
Dividends | 2,506,321 | |
Fund shares sold | 1,264,812 | |
Foreign tax reclaims | 696,212 | |
Income from securities on loan | 61,381 | |
Prepaid expenses | + | 20,887 |
Total assets | 1,189,773,250 | |
Liabilities | ||
Collateral held for securities on loan | 15,802,505 | |
Payables: | ||
Investments bought | 21,162 | |
Investment adviser and administrator fees | 26,835 | |
Shareholder service fees | 43,454 | |
Fund shares redeemed | 428,753 | |
Variation margin on futures contracts | 9,620 | |
Accrued expenses | + | 358,179 |
Total liabilities | 16,690,508 | |
Net Assets | ||
Total assets | 1,189,773,250 | |
Total liabilities | – | 16,690,508 |
Net assets | $1,173,082,742 | |
Net Assets by Source | ||
Capital received from investors | 1,252,472,705 | |
Net investment income not yet distributed | 26,399,326 | |
Net realized capital losses | (98,605,495) | |
Net unrealized capital depreciation | (7,183,794) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,173,082,742 | 143,307,149 | $8.19 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $3,272,862) | $33,723,550 | |
Interest | 1,687 | |
Securities on loan | + | 843,119 |
Total investment income | 34,568,356 | |
Expenses | ||
Investment adviser and administrator fees | 2,698,472 | |
Shareholder service fees | 846,149 | |
Index fees | 637,422 | |
Custodian fees | 232,030 | |
Transfer agent fees | 111,837 | |
Portfolio accounting fees | 97,809 | |
Registration fees | 61,514 | |
Professional fees | 50,205 | |
Shareholder reports | 30,892 | |
Independent trustees' fees | 11,787 | |
Proxy fees | 6,252 | |
Interest expense | 804 | |
Other expenses | + | 43,259 |
Total expenses | 4,828,432 | |
Expense reduction by CSIM and its affiliates | – | 1,164,798 |
Net expenses | – | 3,663,634 |
Net investment income | 30,904,722 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 18,888,979 | |
Net realized gains on futures contracts | 343,298 | |
Net realized losses on foreign currency transactions | + | (389,200) |
Net realized gains | 18,843,077 | |
Net change in unrealized appreciation (depreciation) on investments | (94,743,405) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (82,401) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 31,255 |
Net change in unrealized appreciation (depreciation) | + | (94,794,551) |
Net realized and unrealized losses | (75,951,474) | |
Decrease in net assets resulting from operations | ($45,046,752) |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $30,904,722 | $29,342,366 | |
Net realized gains | 18,843,077 | 19,760,200 | |
Net change in unrealized appreciation (depreciation) | + | (94,794,551) | (59,586,078) |
Decrease in net assets from operations | (45,046,752) | (10,483,512) | |
Distributions to Shareholders | |||
Distributions from net investment income | ($30,718,378) | ($17,955,621) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 77,124,870 | $646,716,280 | 49,079,319 | $452,063,298 | |
Shares reinvested | 2,428,390 | 20,277,055 | 1,447,761 | 12,841,641 | |
Shares redeemed | + | (38,940,325) | (326,201,774) | (19,204,938) | (174,204,252) |
Net transactions in fund shares | 40,612,935 | $340,791,561 | 31,322,142 | $290,700,687 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 102,694,214 | $908,056,311 | 71,372,072 | $645,794,757 | |
Total increase | + | 40,612,935 | 265,026,431 | 31,322,142 | 262,261,554 |
End of period | 143,307,149 | $1,173,082,742 | 102,694,214 | $908,056,311 | |
Net investment income not yet distributed | $26,398,915 | $25,916,254 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $11.15 | $11.47 | $9.13 | $9.53 | $9.96 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.22 | 0.22 | 0.22 | 0.21 | 0.24 | |
Net realized and unrealized gains (losses) | 0.12 | (0.23) | 2.42 | 0.03 | (0.40) | |
Total from investment operations | 0.34 | (0.01) | 2.64 | 0.24 | (0.16) | |
Less distributions: | ||||||
Distributions from net investment income | (0.19) | (0.31) | (0.30) | (0.25) | (0.27) | |
Distributions from net realized gains | (0.05) | — | — | (0.39) | — | |
Total distributions | (0.24) | (0.31) | (0.30) | (0.64) | (0.27) | |
Net asset value at end of period | $11.25 | $11.15 | $11.47 | $9.13 | $9.53 | |
Total return | 3.09% | (0.07%) | 29.75% | 3.13% | (1.76%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.49% | 0.49% | 0.47% 2,3 | 0.46% 4,5 | 0.54% | |
Gross operating expenses | 0.71% | 0.80% | 0.93% | 0.92% 5 | 0.99% | |
Net investment income (loss) | 1.98% | 1.87% | 2.21% | 2.42% | 2.29% | |
Portfolio turnover rate | 37% | 41% | 29% | 89% 6 | 63% | |
Net assets, end of period (x 1,000,000) | $427 | $275 | $150 | $90 | $93 | |
Holdings by Category | Cost ($) | Value ($) | |
98.4% | Common Stock | 397,890,536 | 420,007,227 |
0.4% | Preferred Stock | 1,652,774 | 1,786,493 |
0.0% | Rights | — | 1,967 |
4.9% | Other Investment Companies | 20,702,382 | 20,844,674 |
0.0% | Short-Term Investments | 153,640 | 153,640 |
103.7% | Total Investments | 420,399,332 | 442,794,001 |
(3.7%) | Other Assets and Liabilities, Net | (15,810,164) | |
100.0% | Net Assets | 426,983,837 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Common Stock 98.4% of net assets | |||||
Australia 5.3% | |||||
Fairfax Media Ltd. | 1,074,649 | 0.1 | 718,742 | ||
Treasury Wine Estates Ltd. | 153,674 | 0.2 | 769,147 | ||
Other Securities | 5.0 | 21,349,154 | |||
5.3 | 22,837,043 | ||||
Austria 0.9% | |||||
Wienerberger AG | 38,076 | 0.2 | 702,012 | ||
Other Securities | 0.7 | 3,197,130 | |||
0.9 | 3,899,142 | ||||
Belgium 1.0% | |||||
Bekaert N.V. | 27,493 | 0.2 | 815,452 | ||
Other Securities | 0.8 | 3,567,980 | |||
1.0 | 4,383,432 | ||||
Canada 7.4% | |||||
Agnico-Eagle Mines Ltd. | 25,696 | 0.2 | 726,311 | ||
Other Securities | 7.2 | 30,840,301 | |||
7.4 | 31,566,612 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Denmark 1.5% | |||||
Other Securities | 1.5 | 6,550,265 | |||
Finland 1.6% | |||||
Huhtamaki Oyj | 20,523 | 0.2 | 724,038 | ||
Other Securities | 1.4 | 6,181,819 | |||
1.6 | 6,905,857 | ||||
France 4.3% | |||||
SEB S.A. | 7,060 | 0.2 | 717,053 | ||
UBISOFT Entertainment * | 32,946 | 0.2 | 987,106 | ||
Other Securities | 3.9 | 16,607,427 | |||
4.3 | 18,311,586 | ||||
Germany 3.3% | |||||
Telefonica Deutschland Holding AG | 113,621 | 0.1 | 731,453 | ||
Other Securities | 3.2 | 13,561,224 | |||
3.3 | 14,292,677 | ||||
Greece 0.0% | |||||
Other Securities | 0.0 | — | |||
Hong Kong 2.3% | |||||
Other Securities | 2.3 | 9,797,374 | |||
Ireland 0.7% | |||||
Other Securities | 0.7 | 3,016,946 | |||
Israel 1.0% | |||||
Other Securities | 1.0 | 4,357,643 | |||
Italy 2.7% | |||||
Banca Popolare Di Milano Scarl | 761,437 | 0.2 | 714,468 | ||
Italcementi S.p.A. | 75,183 | 0.2 | 835,018 | ||
Other Securities | 2.3 | 10,067,346 | |||
2.7 | 11,616,832 | ||||
Japan 40.1% | |||||
Alps Electric Co., Ltd. | 26,500 | 0.2 | 822,538 | ||
Autobacs Seven Co., Ltd. | 44,100 | 0.2 | 773,319 | ||
Calsonic Kansei Corp. | 98,000 | 0.2 | 781,028 | ||
Credit Saison Co., Ltd. | 40,200 | 0.2 | 825,289 | ||
Fujikura Ltd. | 156,000 | 0.2 | 801,827 | ||
Fukuoka Financial Group, Inc. | 135,000 | 0.1 | 710,390 | ||
H2O Retailing Corp. | 36,300 | 0.1 | 705,147 | ||
IT Holdings Corp. | 37,700 | 0.2 | 931,978 | ||
Kikkoman Corp. | 26,000 | 0.2 | 814,355 | ||
Koito Manufacturing Co., Ltd. | 20,400 | 0.2 | 772,769 | ||
Kurita Water Industries Ltd. | 33,900 | 0.2 | 765,489 | ||
Matsumotokiyoshi Holdings Co., Ltd. | 18,700 | 0.2 | 800,663 | ||
Megmilk Snow Brand Co., Ltd. | 40,700 | 0.2 | 845,750 | ||
Mitsubishi Gas Chemical Co., Inc. | 137,000 | 0.2 | 763,827 | ||
Morinaga Milk Industry Co., Ltd. | 180,000 | 0.2 | 816,883 | ||
NGK Insulators Ltd. | 33,000 | 0.1 | 714,445 | ||
Nichirei Corp. | 132,000 | 0.2 | 858,597 | ||
Nippon Building Fund, Inc. | 150 | 0.1 | 712,391 | ||
Nomura Real Estate Holdings, Inc. | 33,700 | 0.2 | 720,133 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Otsuka Corp. | 14,900 | 0.2 | 720,263 | ||
Ryohin Keikaku Co., Ltd. | 3,600 | 0.2 | 722,869 | ||
Sankyu, Inc. | 129,000 | 0.2 | 726,687 | ||
Sohgo Security Services Co., Ltd. | 16,500 | 0.2 | 796,014 | ||
Toho Holdings Co., Ltd. | 37,700 | 0.2 | 835,859 | ||
Toyota Boshoku Corp. | 45,600 | 0.2 | 974,329 | ||
Other Securities | 35.5 | 151,549,582 | |||
40.1 | 171,262,421 | ||||
Luxembourg 0.5% | |||||
Other Securities | 0.5 | 2,266,533 | |||
Netherlands 2.2% | |||||
Koninklijke BAM Groep N.V * | 183,125 | 0.2 | 1,008,568 | ||
SBM Offshore N.V. * | 57,149 | 0.2 | 780,785 | ||
X5 Retail Group N.V. GDR - Reg'd * | 33,904 | 0.2 | 700,725 | ||
Other Securities | 1.6 | 6,751,238 | |||
2.2 | 9,241,316 | ||||
New Zealand 0.9% | |||||
Other Securities | 0.9 | 3,746,218 | |||
Norway 1.1% | |||||
Other Securities | 1.1 | 4,519,833 | |||
Portugal 0.4% | |||||
Other Securities | 0.4 | 1,581,120 | |||
Singapore 1.6% | |||||
Other Securities | 1.6 | 6,662,852 | |||
Spain 2.1% | |||||
Other Securities | 2.1 | 8,769,311 | |||
Sweden 2.2% | |||||
Other Securities | 2.2 | 9,239,279 | |||
Switzerland 2.8% | |||||
Galenica AG - Reg'd | 557 | 0.2 | 815,947 | ||
Other Securities | 2.6 | 11,054,112 | |||
2.8 | 11,870,059 | ||||
United Kingdom 12.5% | |||||
Cable & Wireless Communications plc | 835,234 | 0.2 | 945,685 | ||
Debenhams plc | 561,912 | 0.2 | 772,791 | ||
Greene King plc | 71,383 | 0.2 | 883,081 | ||
Hiscox Ltd. | 50,286 | 0.2 | 747,792 | ||
Lancashire Holdings Ltd. | 72,067 | 0.2 | 789,472 | ||
National Express Group plc | 159,282 | 0.2 | 735,173 | ||
Provident Financial plc | 15,608 | 0.2 | 833,175 | ||
The British Land Co., plc | 53,799 | 0.1 | 720,621 | ||
Other Securities | 11.0 | 46,885,086 | |||
12.5 | 53,312,876 | ||||
Total Common Stock | |||||
(Cost $397,890,536) | 420,007,227 | ||||
Security | Number of Shares | % of Net Assets | Value ($) | ||
Preferred Stock 0.4% of net assets | |||||
Germany 0.3% | |||||
Other Securities | 0.3 | 1,159,328 | |||
Italy 0.0% | |||||
Other Securities | 0.0 | 137,200 | |||
Spain 0.0% | |||||
Other Securities | 0.0 | 211,715 | |||
Sweden 0.1% | |||||
Other Securities | 0.1 | 278,250 | |||
Total Preferred Stock | |||||
(Cost $1,652,774) | 1,786,493 | ||||
Rights 0.0% of net assets | |||||
Australia 0.0% | |||||
Other Securities | 0.0 | 1,965 | |||
Italy 0.0% | |||||
Other Securities | 0.0 | 2 | |||
Total Rights | |||||
(Cost $—) | 1,967 | ||||
Other Investment Companies 4.9% of net assets | |||||
United States 4.9% | |||||
Equity Fund 0.9% | |||||
iShares MSCI EAFE Small Cap ETF | 75,000 | 0.9 | 3,759,000 | ||
Securities Lending Collateral 4.0% | |||||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (e) | 17,085,674 | 4.0 | 17,085,674 | ||
4.9 | 20,844,674 | ||||
Total Other Investment Companies | |||||
(Cost $20,702,382) | 20,844,674 |
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | ||
Short-Term Investments 0.0% of net assets | |||||
Time Deposit 0.0% | |||||
Other Securities | 0.0 | 153,640 | |||
Total Short-Term Investments | |||||
(Cost $153,640) | 153,640 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $16,225,783. |
(b) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(c) | Illiquid security. At the period end, the value of these amounted to $139,793 or 0.0% of net assets. |
(d) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $555,094 or 0.1% of net assets. |
(e) | The rate shown is the 7-day yield. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
ETF — | Exchange Traded Fund |
GDR — | Global Depositary Receipt |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $— | $5,938,763 | $— | $5,938,763 | |||||
Australia | 147,163 | 22,358,534 | 331,346 | 22,837,043 | |||||
Austria | 746,229 | 3,152,913 | — | 3,899,142 | |||||
Belgium | 286,781 | 4,096,651 | — | 4,383,432 | |||||
Canada | 31,446,440 | 120,172 | — | 31,566,612 | |||||
Denmark | 277,305 | 6,272,960 | — | 6,550,265 | |||||
Finland | 286,506 | 6,619,351 | — | 6,905,857 | |||||
France | 1,020,190 | 17,291,396 | — | 18,311,586 | |||||
Germany | 195,231 | 14,097,446 | — | 14,292,677 | |||||
Greece | — | — | — | — | |||||
Hong Kong | 63,345 | 9,734,029 | — | 9,797,374 | |||||
Ireland | 759,482 | 2,257,464 | — | 3,016,946 | |||||
Italy | 1,403,678 | 10,213,154 | — | 11,616,832 | |||||
Japan | 404,822 | 170,857,599 | — | 171,262,421 | |||||
Luxembourg | 866,072 | 1,400,461 | — | 2,266,533 | |||||
Netherlands | 1,753,867 | 7,487,449 | — | 9,241,316 | |||||
New Zealand | 107,278 | 3,638,940 | — | 3,746,218 | |||||
Norway | 275,269 | 4,244,564 | — | 4,519,833 | |||||
Singapore | 301,958 | 6,221,101 | 139,793 | 6,662,852 | |||||
Spain | 165,447 | 8,603,864 | — | 8,769,311 | |||||
Sweden | 214,086 | 9,025,193 | — | 9,239,279 | |||||
Switzerland | 621,606 | 11,248,453 | — | 11,870,059 | |||||
United Kingdom | 6,637,371 | 46,675,505 | — | 53,312,876 | |||||
Preferred Stock1 | — | 1,508,243 | — | 1,508,243 | |||||
Sweden | 278,250 | — | — | 278,250 | |||||
Rights 1 | — | — | 1,967 | 1,967 | |||||
Other Investment Companies | |||||||||
United States1 | 20,844,674 | — | — | 20,844,674 | |||||
Short-Term Investments1 | — | 153,640 | — | 153,640 | |||||
Total | $69,103,050 | $373,217,845 | $473,106 | $442,794,001 |
1 | As categorized in the complete schedule of portfolio holdings. |
Investments in Securities | Balance as of October 31, 2014 | Realized Gains (Losses) | Change in Unrealized Appreciation (Depreciation) | Gross Purchases | Gross Sales | Gross Transfers in | Gross Transfers out | Balance as of October 31, 2015 | ||||||||
Common Stock | ||||||||||||||||
Australia | $— | ($93,624) | $94,886 | $330,084 | $— | $— | $— | $331,346 | ||||||||
Republic of Korea | 2,970 | 4,912 | (2,970) | — | (4,912) | — | — | — | ||||||||
Singapore | — | — | (74,005) | 95,389 | — | 118,409 | — | 139,793 | ||||||||
Rights | ||||||||||||||||
Australia | — | — | 1,965 | — | — | — | — | 1,965 | ||||||||
Italy | — | — | 2 | — | — | — | — | 2 | ||||||||
Total | $2,970 | ($88,712) | $19,878 | $425,473 | ($4,912) | $118,409 | $— | $473,106 |
Assets | ||
Investments, at value (cost $403,313,658) including securities on loan of $16,225,783 | $425,708,327 | |
Collateral invested for securities on loan, at value (cost $17,085,674) | + | 17,085,674 |
Total investments, at value (cost $420,399,332) | 442,794,001 | |
Receivables: | ||
Investments sold | 884,102 | |
Dividends | 1,127,439 | |
Fund shares sold | 702,447 | |
Foreign tax reclaims | 100,844 | |
Income from securities on loan | 49,668 | |
Prepaid expenses | + | 9,779 |
Total assets | 445,668,280 | |
Liabilities | ||
Collateral held for securities on loan | 17,085,674 | |
Payables: | ||
Investment adviser and administrator fees | 9,395 | |
Shareholder service fees | 4,456 | |
Fund shares redeemed | 939,961 | |
Due to custodian | 411,445 | |
Accrued expenses | + | 233,512 |
Total liabilities | 18,684,443 | |
Net Assets | ||
Total assets | 445,668,280 | |
Total liabilities | – | 18,684,443 |
Net assets | $426,983,837 | |
Net Assets by Source | ||
Capital received from investors | 405,206,523 | |
Net investment income not yet distributed | 4,752,504 | |
Net realized capital losses | (5,360,758) | |
Net unrealized capital appreciation | 22,385,568 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$426,983,837 | 37,969,897 | $11.25 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $962,910) | $8,827,491 | |
Interest | 933 | |
Securities on loan | + | 356,806 |
Total investment income | 9,185,230 | |
Expenses | ||
Investment adviser and administrator fees | 1,483,944 | |
Shareholder service fees | 317,684 | |
Index fees | 316,516 | |
Custodian fees | 222,208 | |
Portfolio accounting fees | 91,374 | |
Registration fees | 47,446 | |
Professional fees | 46,783 | |
Transfer agent fees | 41,355 | |
Shareholder reports | 30,959 | |
Independent trustees' fees | 8,567 | |
Proxy fees | 4,131 | |
Interest expense | 1,586 | |
Other expenses | + | 26,175 |
Total expenses | 2,638,728 | |
Expense reduction by CSIM and its affiliates | – | 815,033 |
Net expenses | – | 1,823,695 |
Net investment income | 7,361,535 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (3,314,784) | |
Net realized losses on futures contracts | (152,598) | |
Net realized losses on foreign currency transactions | + | (140,166) |
Net realized losses | (3,607,548) | |
Net change in unrealized appreciation (depreciation) on investments | 6,241,939 | |
Net change in unrealized appreciation (depreciation) on futures contracts | (4,234) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 13,109 |
Net change in unrealized appreciation (depreciation) | + | 6,250,814 |
Net realized and unrealized gains | 2,643,266 | |
Increase in net assets resulting from operations | $10,004,801 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $7,361,535 | $3,873,605 | |
Net realized gains (losses) | (3,607,548) | 4,363,595 | |
Net change in unrealized appreciation (depreciation) | + | 6,250,814 | (12,459,728) |
Increase (decrease) in net assets from operations | 10,004,801 | (4,222,528) | |
Distributions to Shareholders | |||
Distributions from net investment income | (4,674,757) | (4,201,706) | |
Distributions from net realized gains | + | (1,212,255) | — |
Total distributions | ($5,887,012) | ($4,201,706) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 21,683,419 | $240,269,549 | 15,320,962 | $176,589,635 | |
Shares reinvested | 378,138 | 4,049,856 | 238,640 | 2,675,147 | |
Shares redeemed | + | (8,780,138) | (96,851,042) | (3,909,585) | (45,018,061) |
Net transactions in fund shares | 13,281,419 | $147,468,363 | 11,650,017 | $134,246,721 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 24,688,478 | $275,397,685 | 13,038,461 | $149,575,198 | |
Total increase | + | 13,281,419 | 151,586,152 | 11,650,017 | 125,822,487 |
End of period | 37,969,897 | $426,983,837 | 24,688,478 | $275,397,685 | |
Net investment income not yet distributed | $4,752,504 | $1,960,947 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $8.60 | $9.24 | $8.86 | $9.17 | $10.81 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.20 1 | 0.20 | 0.19 | 0.25 | 0.24 | |
Net realized and unrealized gains (losses) | (1.92) | (0.66) | 0.43 | (0.17) | (1.37) | |
Total from investment operations | (1.72) | (0.46) | 0.62 | 0.08 | (1.13) | |
Less distributions: | ||||||
Distributions from net investment income | (0.21) | (0.18) | (0.24) | (0.22) | (0.15) | |
Distributions from net realized gains | — | — | — | (0.17) | (0.36) | |
Total distributions | (0.21) | (0.18) | (0.24) | (0.39) | (0.51) | |
Net asset value at end of period | $6.67 | $8.60 | $9.24 | $8.86 | $9.17 | |
Total return | (20.28%) | (5.03%) | 7.11% | 1.18% | (10.99%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.49% | 0.49% | 0.51% 2,3 | 0.56% 4 | 0.61% 5 | |
Gross operating expenses | 0.85% | 0.85% | 0.88% | 0.91% | 0.91% | |
Net investment income (loss) | 2.61% | 2.35% | 2.22% | 2.75% | 2.51% | |
Portfolio turnover rate | 27% | 19% | 22% | 86% 6 | 56% | |
Net assets, end of period (x 1,000,000) | $304 | $346 | $353 | $314 | $310 | |
Holdings by Category | Cost ($) | Value ($) | |
90.6% | Common Stock | 319,471,368 | 275,693,734 |
9.0% | Preferred Stock | 51,687,794 | 27,393,065 |
0.0% | Short-Term Investments | 7,265 | 7,265 |
99.6% | Total Investments | 371,166,427 | 303,094,064 |
0.4% | Other Assets and Liabilities, Net | 1,316,994 | |
100.0% | Net Assets | 304,411,058 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Common Stock 90.6% of net assets | |||||
Brazil 5.9% | |||||
Ambev S.A. | 387,350 | 0.6 | 1,916,679 | ||
Banco do Brasil S.A. | 347,315 | 0.5 | 1,439,328 | ||
Petroleo Brasileiro S.A. * | 1,605,758 | 1.3 | 3,900,742 | ||
Vale S.A. | 668,976 | 1.0 | 2,958,225 | ||
Other Securities | 2.5 | 7,741,975 | |||
5.9 | 17,956,949 | ||||
Chile 0.8% | |||||
Other Securities | 0.8 | 2,451,841 | |||
China 16.4% | |||||
Bank of China Ltd., Class H | 8,362,234 | 1.3 | 3,943,306 | ||
China Construction Bank Corp., Class H | 8,825,960 | 2.1 | 6,396,667 | ||
China Mobile Ltd. | 569,555 | 2.2 | 6,828,899 | ||
China Petroleum & Chemical Corp., Class H | 7,043,400 | 1.7 | 5,077,193 | ||
CNOOC Ltd. | 2,527,075 | 0.9 | 2,854,360 | ||
Industrial & Commercial Bank of China Ltd., Class H | 8,699,172 | 1.8 | 5,517,929 | ||
PetroChina Co., Ltd., Class H | 3,558,000 | 0.9 | 2,785,572 | ||
Other Securities | 5.5 | 16,644,351 | |||
16.4 | 50,048,277 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Colombia 0.3% | |||||
Other Securities | 0.3 | 962,497 | |||
Czech Republic 0.3% | |||||
Other Securities | 0.3 | 866,376 | |||
Greece 0.6% | |||||
Other Securities | 0.6 | 1,964,142 | |||
Hungary 0.6% | |||||
Other Securities | 0.6 | 1,666,012 | |||
India 4.1% | |||||
Infosys Ltd. | 93,222 | 0.5 | 1,618,211 | ||
Reliance Industries Ltd. | 236,083 | 1.1 | 3,419,185 | ||
Other Securities | 2.5 | 7,523,618 | |||
4.1 | 12,561,014 | ||||
Indonesia 1.2% | |||||
Other Securities | 1.2 | 3,592,878 | |||
Malaysia 2.0% | |||||
Other Securities | 2.0 | 5,935,432 | |||
Mexico 3.9% | |||||
America Movil S.A.B. de C.V., Series L | 3,970,919 | 1.2 | 3,545,936 | ||
Wal-Mart de Mexico S.A.B. de C.V. | 502,737 | 0.4 | 1,326,404 | ||
Other Securities | 2.3 | 6,881,903 | |||
3.9 | 11,754,243 | ||||
Peru 0.1% | |||||
Other Securities | 0.1 | 416,729 | |||
Philippines 0.2% | |||||
Other Securities | 0.2 | 498,331 | |||
Poland 2.3% | |||||
Polski Koncern Naftowy Orlen S.A. | 115,447 | 0.6 | 1,872,949 | ||
Other Securities | 1.7 | 5,015,285 | |||
2.3 | 6,888,234 | ||||
Republic of Korea 18.7% | |||||
Hyundai Mobis Co., Ltd. | 8,160 | 0.6 | 1,715,478 | ||
Hyundai Motor Co. | 25,346 | 1.2 | 3,462,126 | ||
Kia Motors Corp. | 52,740 | 0.9 | 2,574,350 | ||
Korea Electric Power Corp. | 35,278 | 0.5 | 1,588,376 | ||
LG Chem Ltd. | 7,060 | 0.6 | 1,876,839 | ||
LG Corp. | 22,941 | 0.4 | 1,327,408 | ||
LG Electronics, Inc. | 37,686 | 0.5 | 1,617,938 | ||
POSCO | 20,296 | 1.1 | 3,263,817 | ||
Samsung Electronics Co., Ltd. | 12,934 | 5.1 | 15,513,371 | ||
Shinhan Financial Group Co., Ltd. | 50,181 | 0.6 | 1,915,170 | ||
SK Holdings Co., Ltd. | 10,681 | 0.8 | 2,496,690 | ||
SK Innovation Co., Ltd. * | 29,739 | 1.0 | 3,083,591 | ||
Other Securities | 5.4 | 16,540,896 | |||
18.7 | 56,976,050 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Russia 12.4% | |||||
Gazprom PAO | 3,949,000 | 2.8 | 8,397,521 | ||
Gazprom PAO ADR | 1,270,000 | 1.7 | 5,352,202 | ||
Lukoil PJSC * | 118,799 | 1.4 | 4,317,426 | ||
Lukoil PJSC ADR | 112,200 | 1.3 | 4,075,735 | ||
Surgutneftegas * | 6,493,005 | 1.2 | 3,639,745 | ||
Tatneft ADR | 68,600 | 0.7 | 2,115,522 | ||
Other Securities | 3.3 | 9,920,219 | |||
12.4 | 37,818,370 | ||||
South Africa 6.1% | |||||
MTN Group Ltd. | 230,145 | 0.8 | 2,620,111 | ||
Sasol Ltd. | 121,404 | 1.3 | 3,889,986 | ||
Standard Bank Group Ltd. | 140,359 | 0.5 | 1,458,348 | ||
Other Securities | 3.5 | 10,575,269 | |||
6.1 | 18,543,714 | ||||
Taiwan 11.8% | |||||
Asustek Computer, Inc. | 154,041 | 0.5 | 1,378,573 | ||
Chunghwa Telecom Co., Ltd. | 529,906 | 0.5 | 1,623,558 | ||
Formosa Chemicals & Fibre Corp. | 625,442 | 0.5 | 1,429,853 | ||
Formosa Plastics Corp. | 566,732 | 0.4 | 1,315,178 | ||
Hon Hai Precision Industry Co., Ltd. | 1,883,424 | 1.6 | 5,006,251 | ||
Taiwan Semiconductor Manufacturing Co., Ltd. | 1,291,103 | 1.8 | 5,440,276 | ||
Other Securities | 6.5 | 19,710,799 | |||
11.8 | 35,904,488 | ||||
Thailand 1.4% | |||||
PTT PCL | 199,187 | 0.5 | 1,540,070 | ||
Other Securities | 0.9 | 2,734,955 | |||
1.4 | 4,275,025 | ||||
Turkey 1.5% | |||||
Other Securities | 1.5 | 4,613,132 | |||
Total Common Stock | |||||
(Cost $319,471,368) | 275,693,734 | ||||
Preferred Stock 9.0% of net assets | |||||
Brazil 6.2% | |||||
Banco Bradesco S.A. | 388,242 | 0.7 | 2,115,078 | ||
Itau Unibanco Holding S.A. | 508,469 | 1.1 | 3,492,172 | ||
Petroleo Brasileiro S.A. * | 2,403,954 | 1.6 | 4,802,054 | ||
Vale S.A. | 968,728 | 1.2 | 3,523,992 | ||
Other Securities | 1.6 | 4,760,201 | |||
6.2 | 18,693,497 | ||||
Colombia 0.1% | |||||
Other Securities | 0.1 | 373,089 | |||
Republic of Korea 1.2% | |||||
Samsung Electronics Co., Ltd. | 2,227 | 0.8 | 2,326,056 | ||
Other Securities | 0.4 | 1,340,906 | |||
1.2 | 3,666,962 |
Security | Number of Shares | % of Net Assets | Value ($) | ||
Russia 1.5% | |||||
AK Transneft OAO * | 1,416 | 1.1 | 3,300,581 | ||
Other Securities | 0.4 | 1,358,936 | |||
1.5 | 4,659,517 | ||||
Total Preferred Stock | |||||
(Cost $51,687,794) | 27,393,065 | ||||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | ||
Short-Term Investments 0.0% of net assets | |||||
Time Deposit 0.0% | |||||
Other Securities | 0.0 | 7,265 | |||
Total Short-Term Investments | |||||
(Cost $7,265) | 7,265 |
* | Non-income producing security. |
(a) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(b) | Illiquid security. At the period end, the value of these amounted to $0 or 0.0% of net assets. |
ADR — | American Depositary Receipt |
GDR — | Global Depositary Receipt |
Reg'd — | Registered |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/18/15 | 20 | 843,700 | (21,933) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $— | $93,033,753 | $— | $93,033,753 | |||||
Brazil | 397,696 | 17,559,253 | — | 17,956,949 | |||||
Chile | 2,175,445 | 276,396 | — | 2,451,841 | |||||
China | 618,108 | 49,430,169 | — | 50,048,277 | |||||
Colombia | 962,497 | — | — | 962,497 | |||||
Mexico | 11,754,243 | — | — | 11,754,243 | |||||
Peru | 416,729 | — | — | 416,729 | |||||
Republic of Korea | 1,057,154 | 55,918,896 | — | 56,976,050 | |||||
Russia | 23,091,465 | 14,726,905 | — | 37,818,370 | |||||
Thailand | 3,395,336 | 879,689 | — | 4,275,025 | |||||
Preferred Stock1 | — | 22,360,459 | — | 22,360,459 | |||||
Colombia | 373,089 | — | — | 373,089 | |||||
Russia | 4,659,517 | — | — | 4,659,517 | |||||
Short-Term Investments1 | — | 7,265 | — | 7,265 | |||||
Total | $48,901,279 | $254,192,785 | $— | $303,094,064 | |||||
Liabilities Valuation Input | |||||||||
Other Financial Instruments | |||||||||
Futures Contracts2 | ($21,933) | $— | $— | ($21,933) |
1 | As categorized in the complete schedule of portfolio holdings. |
2 | Futures contracts are not included in Investments in the schedule of condensed portfolio holdings and are valued at unrealized appreciation or depreciation. |
Investments in Securities | Balance as of October 31, 2014 | Realized Gains (Losses) | Change in Unrealized Appreciation (Depreciation) | Gross Purchases | Gross Sales | Gross Transfers in | Gross Transfers out | Balance as of October 31, 2015 | ||||||||
Common Stock | ||||||||||||||||
Republic of Korea | $519,813 | $— | $29,288 | $— | ($549,101) | $— | $— | $— | ||||||||
Total | $519,813 | $— | $29,288 | $— | ($549,101) | $— | $— | $— |
Assets | ||
Investments, at value (cost $371,166,427) | $303,094,064 | |
Foreign currency, at value (cost $260,317) | 260,359 | |
Deposit with broker for futures contracts | 231,000 | |
Receivables: | ||
Investments sold | 4,239,096 | |
Fund shares sold | 1,113,083 | |
Dividends | 146,317 | |
Variation margin on futures contracts | 2,400 | |
Foreign tax reclaims | 858 | |
Prepaid expenses | + | 9,147 |
Total assets | 309,096,324 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 6,654 | |
Shareholder service fees | 3,221 | |
Due to custodian | 3,462,104 | |
Fund shares redeemed | 849,866 | |
Foreign capital gains tax | 182,926 | |
Accrued expenses and other liabilities | + | 180,495 |
Total liabilities | 4,685,266 | |
Net Assets | ||
Total assets | 309,096,324 | |
Total liabilities | – | 4,685,266 |
Net assets | $304,411,058 | |
Net Assets by Source | ||
Capital received from investors | 412,082,250 | |
Net investment income not yet distributed | 7,562,010 | |
Net realized capital losses | (46,932,835) | |
Net unrealized capital depreciation | (68,300,367) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$304,411,058 | 45,631,844 | $6.67 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $1,422,388) | $10,691,964 | |
Interest | 3,663 | |
Securities on loan | + | 5,886 |
Total investment income | 10,701,513 | |
Expenses | ||
Investment adviser and administrator fees | 1,726,439 | |
Shareholder service fees | 261,234 | |
Custodian fees | 366,325 | |
Index fees | 297,974 | |
Portfolio accounting fees | 74,499 | |
Professional fees | 61,141 | |
Transfer agent fees | 57,808 | |
Registration fees | 31,166 | |
Shareholder reports | 23,916 | |
Independent trustees' fees | 8,522 | |
Proxy fees | 4,927 | |
Interest expense | 2,407 | |
Other expenses | + | 35,419 |
Total expenses | 2,951,777 | |
Expense reduction by CSIM and its affiliates | – | 1,252,779 |
Net expenses | – | 1,698,998 |
Net investment income | 9,002,515 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments (net of foreign capital gain tax paid of $2,489) | (23,789,062) | |
Net realized losses on futures contracts | (32,504) | |
Net realized losses on foreign currency transactions | + | (271,106) |
Net realized losses | (24,092,672) | |
Net change in unrealized appreciation (depreciation) on investments (net of change in foreign capital gain tax of ($124,947)) | (57,695,335) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (78,857) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | (14,001) |
Net change in unrealized appreciation (depreciation) | + | (57,788,193) |
Net realized and unrealized losses | (81,880,865) | |
Decrease in net assets resulting from operations | ($72,878,350) |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $9,002,515 | $8,456,428 | |
Net realized losses | (24,092,672) | (8,043,893) | |
Net change in unrealized appreciation (depreciation) | + | (57,788,193) | (20,621,161) |
Decrease in net assets from operations | (72,878,350) | (20,208,626) | |
Distributions to Shareholders | |||
Distributions from net investment income | ($8,501,798) | ($7,207,709) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 28,202,624 | $207,886,222 | 17,844,818 | $157,305,857 | |
Shares reinvested | 686,509 | 5,279,258 | 517,807 | 4,510,103 | |
Shares redeemed | + | (23,465,190) | (172,997,984) | (16,378,090) | (141,770,574) |
Net transactions in fund shares | 5,423,943 | $40,167,496 | 1,984,535 | $20,045,386 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 40,207,901 | $345,623,710 | 38,223,366 | $352,994,659 | |
Total increase or decrease | + | 5,423,943 | (41,212,652) | 1,984,535 | (7,370,949) |
End of period | 45,631,844 | $304,411,058 | 40,207,901 | $345,623,710 | |
Net investment income not yet distributed | $7,562,010 | $7,079,065 |
Schwab Capital Trust (organized May 7, 1993) | Schwab Large-Cap Growth Fund™ |
Schwab Fundamental US Large Company Index Fund | Schwab Small-Cap Equity Fund™ |
Schwab Fundamental US Small Company Index Fund | Schwab Hedged Equity Fund™ |
Schwab Fundamental International Large Company Index Fund | Schwab Financial Services Fund™ |
Schwab Fundamental International Small Company Index Fund | Schwab Health Care Fund™ |
Schwab Fundamental Emerging Markets Large Company Index Fund | Schwab ® International Core Equity Fund |
Schwab Fundamental Global Real Estate Index Fund | Schwab Target 2010 Fund |
Schwab ® S&P 500 Index Fund | Schwab Target 2015 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2020 Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2025 Fund |
Schwab International Index Fund® | Schwab Target 2030 Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Target 2035 Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Target 2040 Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Target 2045 Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Target 2050 Fund |
Laudus Small-Cap MarketMasters Fund™ | Schwab Target 2055 Fund |
Laudus International MarketMasters Fund™ | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab Balanced Fund™ | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab Core Equity Fund™ | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab Dividend Equity Fund™ |
% of Average Daily Net Assets | Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |||||
First $500 million | 0.30% | 0.30% | 0.30% | 0.40% | 0.50% | |||||
$500 million to $5 billion | 0.22% | 0.22% | 0.22% | 0.38% | 0.48% | |||||
$5 billion to $10 billion | 0.20% | 0.20% | 0.20% | 0.36% | 0.46% | |||||
over $10 billion | 0.18% | 0.18% | 0.18% | 0.34% | 0.44% |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | ||||
0.35% | 0.35% | 0.35% | 0.49% | 0.49% |
Fund | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Dividends Received 11/01/14 to 10/31/15 | |||||||
Schwab Fundamental US Large Company Index Fund | 106,515 | — | (25,300) | 81,215 | $2,478,682 | $286,540 | $23,440 |
Underlying Funds | |||||||||
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |||||
Schwab MarketTrack All Equity Portfolio | 1.6% | 3.1% | 3.0% | 6.8% | 8.6% | ||||
Schwab MarketTrack Growth Portfolio | 1.8% | 3.0% | 2.5% | 5.6% | 6.9% | ||||
Schwab MarketTrack Balanced Portfolio | 0.9% | 1.6% | 1.3% | 3.0% | 3.5% | ||||
Schwab MarketTrack Conservative Portfolio | 0.3% | 0.5% | 0.4% | 0.9% | 0.9% |
Schwab Fundamental US Large Company Index Fund | $81,527,415 |
Schwab Fundamental US Small Company Index Fund | 97,524,052 |
Schwab Fundamental International Large Company Index Fund | 49,198,213 |
Schwab Fundamental International Small Company Index Fund | 3,940,892 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 237,771 |
Contract Values | Number of Contracts | ||
Schwab Fundamental US Large Company Index Fund | $35,425,556 | 344 | |
Schwab Fundamental US Small Company Index Fund | 11,869,767 | 99 | |
Schwab Fundamental International Large Company Index Fund | 5,442,130 | 61 | |
Schwab Fundamental International Small Company Index Fund | 202,652 | 2 | |
Schwab Fundamental Emerging Markets Large Company Index Fund | 2,702,208 | 60 |
Purchases of Securities | Sales/Maturities of Securities | ||
Schwab Fundamental US Large Company Index Fund | $1,053,552,492 | $561,940,314 | |
Schwab Fundamental US Small Company Index Fund | 672,364,348 | 435,495,839 | |
Schwab Fundamental International Large Company Index Fund | 451,025,308 | 113,442,590 | |
Schwab Fundamental International Small Company Index Fund | 283,899,807 | 134,461,859 | |
Schwab Fundamental Emerging Markets Large Company Index Fund | 133,311,878 | 91,355,469 |
Current Period (11/1/14-10/31/15) | Prior Period (11/1/13-10/31/14) | ||
Schwab Fundamental US Large Company Index Fund | $81,788 | $78,706 | |
Schwab Fundamental US Small Company Index Fund | 11,606 | 9,756 | |
Schwab Fundamental International Large Company Index Fund | 22,524 | 16,541 | |
Schwab Fundamental International Small Company Index Fund | 6,552 | 5,415 | |
Schwab Fundamental Emerging Markets Large Company Index Fund | 13,706 | 10,683 |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |||||
Undistributed ordinary income | $150,429,425 | $15,160,432 | $28,080,360 | $7,691,004 | $8,199,487 | ||||
Undistributed long-term capital gains | 82,196,120 | 61,258,704 | — | — | — | ||||
Unrealized appreciation on investments | 1,136,802,288 | 292,377,579 | 125,702,508 | 49,692,138 | 24,950,801 | ||||
Unrealized depreciation on investments | (206,084,200) | (106,291,206) | (151,365,829) | (34,650,078) | (110,874,542) | ||||
Other unrealized appreciation (depreciation) | — | (8) | (46,484) | (9,101) | (204,885) | ||||
Net unrealized appreciation (depreciation) | $930,718,088 | $186,086,365 | ($25,709,805) | $15,032,959 | ($86,128,626) |
Expiration Date | Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |||||
October 31, 2016 | $— | $— | $2,034,097 | $— | $— | |||||
October 31, 2017 | — | — | 58,777,944 | — | — | |||||
October 31, 2018 | — | — | 20,948,477 | — | — | |||||
No expiration* | — | — | — | 946,649 | 29,742,049 | |||||
Total | $— | $— | $81,760,518 | $946,649 | $29,742,049 |
* | As a result of the passage of the Regulated Investment Company Modernization Act of 2010, capital losses incurred after December 31, 2010 may now be carried forward indefinitely, but must retain the character of the original loss. |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |||||
Capital loss carryforwards utilized | $— | $— | $19,043,379 | $— | $— |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |||||
Current period distributions | |||||||||
Ordinary income | $138,919,379 | $28,684,248 | $30,718,378 | $4,676,828 | $8,501,798 | ||||
Long-term capital gains | 52,162,182 | 46,582,789 | — | 1,210,184 | — | ||||
Return of capital | — | — | — | — | — | ||||
Prior period distributions | |||||||||
Ordinary income | $47,960,089 | $24,624,349 | $17,955,621 | $4,201,706 | $7,207,709 | ||||
Long-term capital gains | — | 20,824,514 | — | — | — | ||||
Return of capital | — | — | — | — | — |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |||||
Capital shares | $— | ($15) | $— | $— | $— | ||||
Undistributed net investment income | (107,856) | (574,400) | 296,728 | 104,779 | (17,772) | ||||
Net realized capital gains (losses) | 107,856 | 574,415 | (296,728) | (104,779) | 17,772 |
Schwab Fundamental US Large Company Index Fund
Schwab Fundamental US Small Company Index Fund
Schwab Fundamental International Large Company Index Fund
Schwab Fundamental International Small Company Index Fund
Schwab Fundamental Emerging Markets Large Company Index Fund
San Francisco, California
December 16, 2015
Foreign Tax Credit | Foreign Source Income | ||
Schwab Fundamental US Large Company Index Fund | $— | $— | |
Schwab Fundamental US Small Company Index Fund | — | — | |
Schwab Fundamental International Large Company Index Fund | 2,514,557 | 36,982,973 | |
Schwab Fundamental International Small Company Index Fund | 855,760 | 9,640,826 | |
Schwab Fundamental Emerging Markets Large Company Index Fund | 1,422,090 | 12,114,297 |
Percentage | |
Schwab Fundamental US Large Company Index Fund | 60.31 |
Schwab Fundamental US Small Company Index Fund | 45.98 |
Schwab Fundamental International Large Company Index Fund | — |
Schwab Fundamental International Small Company Index Fund | — |
Schwab Fundamental Emerging Markets Large Company Index Fund | — |
Schwab Fundamental US Large Company Index Fund | $85,928,423 |
Schwab Fundamental US Small Company Index Fund | 13,908,226 |
Schwab Fundamental International Large Company Index Fund | 32,151,862 |
Schwab Fundamental International Small Company Index Fund | 4,448,186 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 7,006,779 |
Schwab Fundamental US Large Company Index Fund | $52,162,182 |
Schwab Fundamental US Small Company Index Fund | 46,582,789 |
Schwab Fundamental International Large Company Index Fund | — |
Schwab Fundamental International Small Company Index Fund | 1,210,184 |
Schwab Fundamental Emerging Markets Large Company Index Fund | — |
The Investment Company Act of 1940 (the 1940 Act) requires that initial approval of, as well as the continuation of, a fund’s investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or “interested persons” of any party (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund’s trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.
1. | the nature, extent and quality of the services provided to the Funds under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 74 | Director, Gilead Sciences, Inc. (2005 – present) |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Private Investor. | 74 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013) | 74 | Director, KLA-Tencor Corporation (2008 – present) |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 95 | None |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 74 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 74 | Board Member and Chairman of the Audit Committee, Isis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Charles R. Schwab2 1937 Chairman and Trustee (Chairman and Trustee of The Charles Schwab Family of Funds since 1989; Schwab Investments since 1991; Schwab Capital Trust since 1993; Schwab Annuity Portfolios since 1994; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman and Director, The Charles Schwab Corporation (1986 – present); Chairman and Director of Charles Schwab & Co., Inc. (1971 – present); Chairman and Director of Charles Schwab Investment Management, Inc. (1989 – present); Chairman and Director of Charles Schwab Bank (2003 – present); Chairman and Chief Executive Officer of Schwab (SIS) Holdings Inc. I and Schwab International Holdings, Inc. (1996 – present); and Director, Chairman and Chief Executive Officer, Schwab Holdings, Inc. (1979 – present). | 74 | Chairman and Director, The Charles Schwab Corporation (1986 – present) Director, Yahoo! Inc. (2014 – present) |
Walter W. Bettinger II2 1960 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (2008 – present); Director, Charles Schwab Bank (2006 – present); and Director, Schwab Holdings, Inc. (2008 – present). | 95 | Director, The Charles Schwab Corporation (2008 – present) |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
George Pereira 1964 Treasurer and Principal Financial Officer, Schwab Funds Treasurer and Chief Financial Officer, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust and Laudus Institutional Trust since 2006) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – present); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – present) and Schwab ETFs (Oct. 2009 – present); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (April 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – April 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (April 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (April 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (April 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2005) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Trustees remain in office until they resign, retire or are removed by shareholder vote. The Schwab and Laudus Funds’ retirement policy requires that independent trustees retire at age 72 or after twenty years as a trustee, whichever comes first. In addition, the retirement policy requires any independent trustee of Schwab Funds or Laudus Funds to retire from all Boards upon their required retirement date from either Board. |
2 | Mr. Schwab and Mr. Bettinger are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Boards. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Schwab Dividend Equity Fund™
Schwab Large-Cap Growth Fund™
Schwab Small-Cap Equity Fund™
Schwab Hedged Equity Fund™
Schwab Financial Services Fund™
Schwab Health Care Fund™
Schwab® International Core Equity Fund
Schwab Fundamental US Large Company Index Fund
Schwab Fundamental US Small Company Index Fund
Schwab Fundamental International Large Company Index Fund
Schwab Fundamental International Small Company Index Fund
Schwab Fundamental Emerging Markets Large Company Index Fund
Schwab Fundamental Global Real Estate Index Fund
Schwab Global Real Estate Fund™
Schwab® S&P 500 Index Fund
Schwab 1000 Index® Fund
Schwab Small-Cap Index Fund®
Schwab Total Stock Market Index Fund®
Schwab International Index Fund®
Schwab MarketTrack All Equity Portfolio™
Schwab MarketTrack Growth Portfolio™
Schwab MarketTrack Balanced Portfolio™
Schwab MarketTrack Conservative Portfolio™
Schwab Target 2010 Fund
Schwab Target 2015 Fund
Schwab Target 2020 Fund
Schwab Target 2025 Fund
Schwab Target 2030 Fund
Schwab Target 2035 Fund
Schwab Target 2040 Fund
Schwab Target 2045 Fund
Schwab Target 2050 Fund
Schwab Target 2055 Fund
Schwab® Monthly Income Fund – Moderate Payout
Schwab® Monthly Income Fund – Enhanced Payout
Schwab® Monthly Income Fund – Maximum Payout
Schwab Intermediate-Term Bond Fund™
Schwab Total Bond Market Fund™
Schwab GNMA Fund™
Schwab® Treasury Inflation Protected Securities Index Fund
Schwab Tax-Free Bond Fund™
Schwab California Tax-Free Bond Fund™
1 | Investments in money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency and, although they seek to preserve the value of your investment at $1 per share, it is possible to lose money. |
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Table of Contents
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2 | |
3 | |
5 | |
Performance and Fund Facts | |
6 | |
8 | |
11 | |
Financial Statements and Portfolio Holdings | |
12 | |
34 | |
59 | |
70 | |
71 | |
72 | |
75 | |
78 |
Total Return for the 12 Months Ended October 31, 2015 | |
Laudus Small-Cap MarketMasters Fund | |
Investor Shares (Ticker Symbol: SWOSX) | -1.18% |
Select Shares® (Ticker Symbol: SWMSX) | -0.99% |
Russell 2000® Index | 0.34% |
Fund Category: Morningstar Small Growth | 1.52% |
Performance Details | pages 6-7 |
Laudus International MarketMasters Fund | |
Investor Shares1 (Ticker Symbol: SWOIX) | 0.39% |
Select Shares®1 (Ticker Symbol: SWMIX) | 0.52% 2 |
MSCI EAFE® Index (Net)3 | -0.07% |
Fund Category: Morningstar Foreign Large Growth | 0.96% |
Performance Details | pages 8-10 |
Minimum Initial Investment4 | |
Investor Shares | $ 100 |
Select Shares® | $50,000 |
1 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
2 | Total return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual and semi-annual reports. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | Please see the funds' prospectus for further detail and eligibility requirements. |
1 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Omar Aguilar, Ph.D. Senior Vice President and Chief Investment Officer of Equities, has overall responsibility for all aspects of the management of the funds. Prior to joining CSIM in 2011, Mr. Aguilar was with Financial Engines, where he was responsible for managing assets from leading retirement plan sponsors in the defined contribution market. Prior to joining Financial Engines in 2009, Mr. Aguilar was the head of quantitative equity for ING Investment Management, where he was responsible for building and developing the firm’s quantitative equity group. He joined ING in 2004 from Lehman Brothers, where he served as the head of quantitative research for its alternative investment management business. Prior to that, he was a director of quantitative research and portfolio manager with Merrill Lynch Investment Management and Bankers Trust. |
Statistics | |
Number of Holdings | 1,878 |
Weighted Average Market Cap (millions) | $2,147 |
Price/Earnings Ratio (P/E) | 55.4 |
Price/Book Ratio (P/B) | 1.9 |
Portfolio Turnover Rate | 51% |
Sector Weightings % of Investments | |
Industrials | 20.1% |
Information Technology | 16.4% |
Financials | 15.4% |
Health Care | 14.1% |
Consumer Discretionary | 10.9% |
Energy | 6.0% |
Materials | 2.6% |
Telecommunication Services | 2.2% |
Utilities | 2.1% |
Consumer Staples | 1.8% |
Other | 8.4% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
iShares Russell Mid-Cap ETF | 3.0% |
inContact, Inc. | 1.7% |
The Rubicon Project, Inc. | 1.4% |
Mueller Industries, Inc. | 1.3% |
Webster Financial Corp. | 1.3% |
Belden, Inc. | 1.2% |
G&K Services, Inc., Class A | 1.2% |
InterOil Corp. | 1.1% |
Albany International Corp., Class A | 1.0% |
Summit Hotel Properties, Inc. | 1.0% |
Total | 14.2% |
1 | This list is not a recommendation of any security by the investment adviser. |
October 31, 2005 – October 31, 2015
Performance of Hypothetical
$10,000 Investment (Investor Shares)1
Performance of Hypothetical
$50,000 Investment (Select Shares)1
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Investor Shares (9/16/97) | -1.18% | 9.10% | 5.75% |
Select Shares® (6/9/04) | -0.99% | 9.29% | 5.92% |
Russell 2000® Index | 0.34% | 12.06% | 7.47% |
Fund Category: Morningstar Small Growth | 1.52% | 12.11% | 7.86% |
Investment Managers | Investment Style | % of Net Assets |
Wellington Management Company LLP | Small-Cap Value | 47.6% |
BMO Asset Management Corp. | Small-Cap Growth | 39.6% |
Mellon Capital Management Corp. | Small-Cap Blend | 8.0% |
Cash & other assets | — | 4.8% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
4 | For more information about each of the investment manager's investment styles, refer to the fund's prospectus. |
United Kingdom | 17.3% |
Japan | 17.0% |
Germany | 9.2% |
France | 9.0% |
Switzerland | 6.6% |
Canada | 4.3% |
United States | 4.1% |
China | 3.9% |
Australia | 3.8% |
Italy | 3.5% |
Sweden | 2.8% |
Singapore | 2.5% |
Other Countries | 16.0% |
Total | 100.0% |
Statistics | |
Number of Holdings | 1,168 |
Weighted Average Market Cap (millions) | $25,665 |
Price/Earnings Ratio (P/E) | 19.5 |
Price/Book Ratio (P/B) | 0.3 |
Portfolio Turnover Rate | 72% |
Sector Weightings % of Investments | |
Consumer Discretionary | 21.0% |
Financials | 20.4% |
Industrials | 19.8% |
Information Technology | 10.1% |
Materials | 6.6% |
Consumer Staples | 6.2% |
Health Care | 6.0% |
Energy | 2.3% |
Telecommunication Services | 1.8% |
Utilities | 1.7% |
Other | 4.1% |
Total | 100.0% |
Top Equity Holdings % of Net Assets1 | |
Credit Suisse Group AG – Reg'd | 1.0% |
Samsung Electronics Co., Ltd. | 1.0% |
Allianz SE – Reg'd | 1.0% |
Chr. Hansen Holding A/S | 0.9% |
BNP Paribas S.A. | 0.9% |
Bayerische Motoren Werke AG | 0.9% |
Honda Motor Co., Ltd. | 0.9% |
Toyota Motor Corp. | 0.9% |
Daimler AG – Reg'd | 0.9% |
Rubis S.C.A. | 0.9% |
Total | 9.3% |
1 | This list is not a recommendation of any security by the investment adviser. |
October 31, 2005 – October 31, 2015
Performance of Hypothetical
$10,000 Investment (Investor Shares)1
Performance of Hypothetical
$50,000 Investment (Select Shares)1
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Investor Shares (10/16/96) | 0.39% | 5.84% | 6.39% |
Select Shares® (4/2/04) | 0.52% 3 | 5.99% | 6.55% |
MSCI EAFE® Index (Net)4 | -0.07% | 4.81% | 4.05% |
MSCI EAFE® Index (Gross) | 0.37% | 5.28% | 4.53% |
Fund Category: Morningstar Foreign Large Growth | 0.96% | 4.94% | 4.88% |
Investment Managers | Investment Style | % of Net Assets |
American Century Investment Management, Inc. | International Small-Cap Growth | 25.9% |
Harris Associates L.P. | International Large-Cap Value | 24.5% |
William Blair Investment Management, LLC | International Multi-Cap Growth | 21.5% |
Mondrian Investment Partners Limited | International Small-Cap Value | 20.0% |
Mellon Capital Management Corp. | International Blend | 5.3% |
Cash & other assets | — | 2.8% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | Total return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual and semi-annual reports. |
4 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
5 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
6 | For more information about each of the investment manager's investment styles, refer to the fund's prospectus. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio1 (Annualized) | Beginning Account Value at 5/1/15 | Ending Account Value (Net of Expenses) at 10/31/15 | Expenses Paid During Period2 5/1/15–10/31/15 | |
Laudus Small-Cap MarketMasters Fund | ||||
Investor Shares | ||||
Actual Return | 1.35% | $1,000.00 | $ 934.50 | $ 6.58 |
Hypothetical 5% Return | 1.35% | $1,000.00 | $1,018.39 | $ 6.87 |
Select Shares | ||||
Actual Return | 1.20% | $1,000.00 | $ 935.60 | $ 5.85 |
Hypothetical 5% Return | 1.20% | $1,000.00 | $ 1,019.15 | $ 6.11 |
Laudus International MarketMasters Fund | ||||
Investor Shares | ||||
Actual Return | 1.40% | $1,000.00 | $ 945.50 | $ 6.87 |
Hypothetical 5% Return | 1.40% | $1,000.00 | $ 1,018.14 | $ 7.12 |
Select Shares | ||||
Actual Return | 1.25% | $1,000.00 | $ 946.20 | $ 6.13 |
Hypothetical 5% Return | 1.25% | $1,000.00 | $1,018.90 | $6.36 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12-month period. |
2 | Expenses for each fund or share class are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 365 days of the fiscal year. |
Investor Shares | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $18.02 | $17.28 | $13.14 | $11.99 | $11.52 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | (0.05) | (0.05) | (0.02) | (0.10) | (0.09) | |
Net realized and unrealized gains (losses) | (0.17) 2 | 0.79 | 4.16 | 1.25 | 0.56 | |
Total from investment operations | (0.22) | 0.74 | 4.14 | 1.15 | 0.47 | |
Less distributions: | ||||||
Distributions from net investment income | (0.03) | — | — | — | — | |
Distributions from net realized gains | (0.35) | — | — | — | — | |
Total distributions | (0.38) | — | — | — | — | |
Net asset value at end of period | $17.42 | $18.02 | $17.28 | $13.14 | $11.99 | |
Total return | (1.18%) | 4.28% | 31.51% | 9.59% | 4.08% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.35% | 1.35% | 1.35% | 1.42% 3 | 1.46% | |
Gross operating expenses | 1.55% | 1.56% | 1.59% | 1.59% | 1.51% | |
Net investment income (loss) | (0.26%) | (0.26%) | (0.16%) | (0.79%) | (0.70%) | |
Portfolio turnover rate | 51% | 79% | 97% | 144% | 95% | |
Net assets, end of period (x 1,000,000) | $62 | $70 | $76 | $65 | $62 | |
Select Shares | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $18.33 | $17.56 | $13.33 | $12.14 | $11.64 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | (0.02) | (0.02) | (0.00) 4 | (0.08) | (0.07) | |
Net realized and unrealized gains (losses) | (0.17) 2 | 0.79 | 4.23 | 1.27 | 0.57 | |
Total from investment operations | (0.19) | 0.77 | 4.23 | 1.19 | 0.50 | |
Less distributions: | ||||||
Distributions from net investment income | (0.06) | — | — | — | — | |
Distributions from net realized gains | (0.35) | — | — | — | — | |
Total distributions | (0.41) | — | — | — | — | |
Net asset value at end of period | $17.73 | $18.33 | $17.56 | $13.33 | $12.14 | |
Total return | (0.99%) | 4.39% | 31.73% | 9.80% | 4.30% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.20% | 1.20% | 1.20% | 1.27% 3 | 1.31% | |
Gross operating expenses | 1.51% | 1.51% | 1.53% | 1.51% | 1.45% | |
Net investment income (loss) | (0.09%) | (0.13%) | (0.03%) | (0.60%) | (0.54%) | |
Portfolio turnover rate | 51% | 79% | 97% | 144% | 95% | |
Net assets, end of period (x 1,000,000) | $107 | $122 | $113 | $88 | $219 |
Holdings by Category | Cost ($) | Value ($) | |
91.6% | Common Stock | 146,641,229 | 154,713,677 |
8.4% | Other Investment Companies | 14,208,273 | 14,121,415 |
0.0% | Rights | 2,814 | 2,814 |
0.0% | Warrants | — | — |
0.0% | Short-Term Investment | 5,999 | 5,999 |
100.0% | Total Investments | 160,858,315 | 168,843,905 |
(0.0%) | Other Assets and Liabilities, Net | (26,548) | |
100.0% | Net Assets | 168,817,357 |
Security | Number of Shares | Value ($) |
Common Stock 91.6% of net assets | ||
Automobiles & Components 0.2% | ||
American Axle & Manufacturing Holdings, Inc. * | 518 | 11,479 |
Cooper Tire & Rubber Co. | 361 | 15,086 |
Cooper-Standard Holding, Inc. * | 71 | 4,618 |
Dana Holding Corp. | 1,218 | 20,463 |
Dorman Products, Inc. * | 200 | 9,336 |
Drew Industries, Inc. | 170 | 10,171 |
Federal-Mogul Holdings Corp. * | 125 | 969 |
Fox Factory Holding Corp. * | 87 | 1,544 |
Gentherm, Inc. * | 320 | 15,731 |
Horizon Global Corp. * | 12,682 | 111,475 |
Metaldyne Performance Group, Inc. | 77 | 1,680 |
Motorcar Parts of America, Inc. * | 132 | 4,443 |
Remy International, Inc. | 145 | 4,276 |
Standard Motor Products, Inc. | 198 | 8,762 |
Strattec Security Corp. | 22 | 1,316 |
Superior Industries International, Inc. | 374 | 7,360 |
Tenneco, Inc. * | 548 | 31,011 |
Tower International, Inc. * | 122 | 3,351 |
263,071 | ||
Banks 8.5% | ||
1st Source Corp. | 183 | 5,812 |
Access National Corp. | 71 | 1,469 |
American National Bankshares, Inc. | 73 | 1,840 |
Ameris Bancorp | 222 | 6,993 |
Ames National Corp. | 74 | 1,850 |
Security | Number of Shares | Value ($) |
Anchor BanCorp Wisconsin, Inc. * | 150 | 6,153 |
Arrow Financial Corp. | 70 | 1,932 |
Astoria Financial Corp. | 530 | 8,459 |
Banc of California, Inc. | 254 | 3,312 |
BancFirst Corp. | 49 | 3,020 |
Banco Latinoamericano de Exportaciones, S.A., Class E | 60 | 1,622 |
BancorpSouth, Inc. | 923 | 23,010 |
Bank of Marin Bancorp | 43 | 2,287 |
Bank of the Ozarks, Inc. | 601 | 30,062 |
Banner Corp. | 165 | 8,097 |
Bar Harbor Bankshares | 42 | 1,485 |
BBCN Bancorp, Inc. | 837 | 14,053 |
BBX Capital Corp., Class A * | 88 | 1,615 |
Bear State Financial, Inc. * | 162 | 1,774 |
Beneficial Bancorp, Inc. * | 332 | 4,605 |
Berkshire Hills Bancorp, Inc. | 102 | 2,917 |
Blue Hills Bancorp, Inc. | 101 | 1,433 |
BNC Bancorp | 198 | 4,445 |
BofI Holding, Inc. * | 153 | 12,242 |
Boston Private Financial Holdings, Inc. | 627 | 7,185 |
Bridge Bancorp, Inc. | 186 | 5,340 |
Brookline Bancorp, Inc. | 511 | 5,800 |
Bryn Mawr Bank Corp. | 73 | 2,126 |
BSB Bancorp, Inc. * | 66 | 1,451 |
C1 Financial, Inc. * | 76 | 1,572 |
Camden National Corp. | 47 | 1,837 |
Capital Bank Financial Corp., Class A | 90 | 2,907 |
Capital City Bank Group, Inc. | 144 | 2,223 |
Capitol Federal Financial, Inc. | 665 | 8,632 |
Cardinal Financial Corp. | 65 | 1,477 |
Cascade Bancorp * | 518 | 2,906 |
Cathay General Bancorp | 713 | 22,317 |
CenterState Banks, Inc. | 196 | 2,858 |
Central Pacific Financial Corp. | 17 | 380 |
Century Bancorp, Inc., Class A | 48 | 2,134 |
Charter Financial Corp. | 168 | 2,201 |
Chemical Financial Corp. | 186 | 6,311 |
Citizens & Northern Corp. | 277 | 5,487 |
City Holding Co. | 117 | 5,596 |
Clifton Bancorp, Inc. | 136 | 1,983 |
CNB Financial Corp. | 102 | 1,895 |
CoBiz Financial, Inc. | 304 | 3,788 |
Columbia Banking System, Inc. | 565 | 18,826 |
Community Bank System, Inc. | 438 | 17,853 |
Community Trust Bancorp, Inc. | 185 | 6,377 |
CommunityOne Bancorp * | 133 | 1,721 |
ConnectOne Bancorp, Inc. | 278 | 4,962 |
CU Bancorp * | 137 | 3,304 |
Customers Bancorp, Inc. * | 126 | 3,465 |
CVB Financial Corp. | 843 | 14,710 |
Dime Community Bancshares, Inc. | 190 | 3,297 |
Eagle Bancorp, Inc. * | 294 | 13,994 |
Enterprise Bancorp, Inc. | 99 | 2,299 |
Enterprise Financial Services Corp. | 341 | 9,671 |
Essent Group Ltd. * | 549 | 13,231 |
EverBank Financial Corp. | 912 | 15,741 |
F.N.B. Corp. | 1,087 | 14,642 |
Farmers Capital Bank Corp. * | 54 | 1,464 |
FCB Financial Holdings, Inc., Class A * | 108 | 3,840 |
Fidelity Southern Corp. | 86 | 1,802 |
Financial Institutions, Inc. | 161 | 4,205 |
Security | Number of Shares | Value ($) |
First Bancorp (North Carolina) | 173 | 3,206 |
First BanCorp (Puerto Rico) * | 1,156 | 4,381 |
First Bancorp, Inc. | 103 | 2,176 |
First Busey Corp. | 38,789 | 809,526 |
First Business Financial Services, Inc. | 124 | 3,057 |
First Citizens BancShares, Inc., Class A | 72 | 18,442 |
First Commonwealth Financial Corp. | 130 | 1,195 |
First Connecticut Bancorp, Inc. | 350 | 6,083 |
First Defiance Financial Corp. | 73 | 2,796 |
First Financial Bancorp | 612 | 11,799 |
First Financial Bankshares, Inc. | 644 | 21,419 |
First Financial Corp. | 124 | 4,249 |
First Interstate BancSystem, Inc., Class A | 51 | 1,446 |
First Merchants Corp. | 290 | 7,607 |
First Midwest Bancorp, Inc. | 83,035 | 1,479,684 |
First NBC Bank Holding Co. * | 118 | 4,388 |
First Niagara Financial Group, Inc. | 92,000 | 952,200 |
FirstMerit Corp. | 1,497 | 28,129 |
Flagstar Bancorp, Inc. * | 177 | 3,936 |
Flushing Financial Corp. | 39,992 | 841,432 |
Fox Chase Bancorp, Inc. | 103 | 1,804 |
Fulton Financial Corp. | 1,051 | 14,104 |
German American Bancorp, Inc. | 77 | 2,412 |
Glacier Bancorp, Inc. | 618 | 16,908 |
Great Southern Bancorp, Inc. | 188 | 9,086 |
Great Western Bancorp, Inc. | 37,164 | 1,050,255 |
Green Bancorp, Inc. * | 94 | 1,152 |
Guaranty Bancorp | 155 | 2,554 |
Hampton Roads Bankshares, Inc. * | 883 | 1,634 |
Hancock Holding Co. | 31,670 | 874,092 |
Hanmi Financial Corp. | 351 | 8,951 |
Heartland Financial USA, Inc. | 62 | 2,284 |
Heritage Commerce Corp. | 248 | 2,624 |
Heritage Oaks Bancorp | 282 | 2,484 |
Hilltop Holdings, Inc. * | 534 | 11,198 |
Hingham Institution for Savings | 14 | 1,784 |
Home BancShares, Inc. | 562 | 24,121 |
HomeStreet, Inc. * | 61 | 1,277 |
HomeTrust Bancshares, Inc. * | 40 | 758 |
Horizon Bancorp | 84 | 2,192 |
IBERIABANK Corp. | 312 | 18,917 |
Impac Mortgage Holdings, Inc. * | 74 | 1,654 |
Independent Bank Corp., Massachusetts | 171 | 7,993 |
Independent Bank Group, Inc. | 88 | 3,428 |
International Bancshares Corp. | 57,577 | 1,551,700 |
Investors Bancorp, Inc. | 2,464 | 30,825 |
Kearny Financial Corp. | 230 | 2,749 |
Lakeland Bancorp, Inc. | 280 | 3,256 |
Lakeland Financial Corp. | 158 | 7,099 |
LegacyTexas Financial Group, Inc. | 499 | 14,321 |
LendingTree, Inc. * | 6,390 | 775,490 |
MainSource Financial Group, Inc. | 122 | 2,640 |
MB Financial, Inc. | 36,073 | 1,162,994 |
Mercantile Bank Corp. | 158 | 3,485 |
Merchants Bancshares, Inc. | 58 | 1,828 |
Meridian Bancorp, Inc. | 109 | 1,530 |
Meta Financial Group, Inc. | 84 | 3,619 |
Metro Bancorp, Inc. | 247 | 7,652 |
MGIC Investment Corp. * | 2,408 | 22,635 |
MidWestOne Financial Group, Inc. | 70 | 2,145 |
Security | Number of Shares | Value ($) |
National Bank Holdings Corp., Class A | 337 | 7,434 |
National Bankshares, Inc. | 94 | 3,069 |
National Commerce Corp. * | 60 | 1,507 |
National Penn Bancshares, Inc. | 620 | 7,465 |
Nationstar Mortgage Holdings, Inc. * | 547 | 7,259 |
NBT Bancorp, Inc. | 497 | 13,971 |
NewBridge Bancorp | 271 | 3,065 |
NMI Holdings, Inc., Class A * | 429 | 3,226 |
Northfield Bancorp, Inc. | 96 | 1,471 |
Northwest Bancshares, Inc. | 101,491 | 1,366,069 |
OceanFirst Financial Corp. | 300 | 5,538 |
Ocwen Financial Corp. * | 448 | 3,132 |
OFG Bancorp | 249 | 2,293 |
Old National Bancorp | 725 | 10,150 |
Old Second Bancorp, Inc. * | 224 | 1,501 |
Opus Bank | 40 | 1,490 |
Oritani Financial Corp. | 482 | 7,673 |
Pacific Continental Corp. | 150 | 2,151 |
Pacific Premier Bancorp, Inc. * | 85 | 1,815 |
Park National Corp. | 92 | 8,346 |
Park Sterling Corp. | 898 | 6,511 |
Peapack-Gladstone Financial Corp. | 128 | 2,894 |
Penns Woods Bancorp, Inc. | 41 | 1,827 |
PennyMac Financial Services, Inc., Class A * | 80 | 1,323 |
Peoples Bancorp, Inc. | 147 | 2,817 |
Peoples Financial Services Corp. | 59 | 2,402 |
PHH Corp. * | 286 | 4,204 |
Pinnacle Financial Partners, Inc. | 365 | 19,206 |
Preferred Bank | 104 | 3,443 |
PrivateBancorp, Inc. | 471 | 19,702 |
Prosperity Bancshares, Inc. | 444 | 22,813 |
Provident Financial Services, Inc. | 491 | 9,977 |
QCR Holdings, Inc. | 2 | 46 |
Radian Group, Inc. | 1,415 | 20,475 |
Renasant Corp. | 321 | 11,116 |
Republic Bancorp, Inc., Class A | 75 | 1,907 |
S&T Bancorp, Inc. | 199 | 6,344 |
Sandy Spring Bancorp, Inc. | 230 | 6,325 |
Seacoast Banking Corp of Florida * | 93 | 1,440 |
ServisFirst Bancshares, Inc. | 39 | 1,653 |
Sierra Bancorp | 117 | 1,897 |
Simmons First National Corp., Class A | 206 | 10,617 |
South State Corp. | 184 | 14,260 |
Southside Bancshares, Inc. | 333 | 8,958 |
Southwest Bancorp, Inc. | 261 | 4,414 |
State Bank Financial Corp. | 192 | 4,109 |
Sterling Bancorp | 587 | 9,034 |
Stock Yards Bancorp, Inc. | 68 | 2,562 |
Stonegate Mortgage Corp. * | 137 | 785 |
Suffolk Bancorp | 99 | 2,959 |
Sun Bancorp, Inc. * | 108 | 2,161 |
Talmer Bancorp, Inc., Class A | 207 | 3,482 |
Territorial Bancorp, Inc. | 73 | 2,035 |
Texas Capital Bancshares, Inc. * | 409 | 22,577 |
The First of Long Island Corp. | 76 | 2,111 |
Tompkins Financial Corp. | 76 | 4,125 |
Towne Bank | 375 | 8,048 |
TriCo Bancshares | 237 | 6,247 |
TriState Capital Holdings, Inc. * | 128 | 1,599 |
Triumph Bancorp, Inc. * | 111 | 1,853 |
Trustmark Corp. | 357 | 8,579 |
Security | Number of Shares | Value ($) |
UMB Financial Corp. | 369 | 18,111 |
Umpqua Holdings Corp. | 1,509 | 25,200 |
Union Bankshares Corp. | 364 | 9,118 |
United Bankshares, Inc. | 396 | 15,662 |
United Community Banks, Inc. | 540 | 10,886 |
United Financial Bancorp, Inc. | 505 | 6,555 |
Univest Corp. of Pennsylvania | 90 | 1,772 |
Valley National Bancorp | 1,344 | 14,112 |
Walker & Dunlop, Inc. * | 116 | 3,365 |
Walter Investment Management Corp. * | 288 | 3,444 |
Washington Federal, Inc. | 661 | 16,485 |
Washington Trust Bancorp, Inc. | 60 | 2,328 |
Waterstone Financial, Inc. | 110 | 1,465 |
Webster Financial Corp. | 59,155 | 2,194,650 |
WesBanco, Inc. | 268 | 8,750 |
West Bancorp, Inc. | 141 | 2,786 |
Westamerica Bancorp | 297 | 13,130 |
Western Alliance Bancorp * | 596 | 21,307 |
Wilshire Bancorp, Inc. | 485 | 5,185 |
Wintrust Financial Corp. | 306 | 15,450 |
WSFS Financial Corp. | 324 | 10,293 |
Yadkin Financial Corp. | 276 | 6,500 |
14,403,098 | ||
Capital Goods 10.8% | ||
AAON, Inc. | 477 | 9,764 |
AAR Corp. | 129 | 2,927 |
Accuride Corp. * | 750 | 2,115 |
Actuant Corp., Class A | 254 | 5,791 |
Advanced Drainage Systems, Inc. | 152 | 4,776 |
Aegion Corp. * | 205 | 3,954 |
Aerojet Rocketdyne Holdings, Inc. * | 651 | 11,028 |
Aerovironment, Inc. * | 310 | 7,152 |
Aircastle Ltd. | 330 | 7,478 |
Alamo Group, Inc. | 42 | 1,971 |
Albany International Corp., Class A | 46,949 | 1,763,874 |
Allied Motion Technologies, Inc. | 63 | 1,215 |
Altra Industrial Motion Corp. | 222 | 5,874 |
Ameresco, Inc., Class A * | 500 | 3,240 |
American Railcar Industries, Inc. | 62 | 3,579 |
American Science & Engineering, Inc. | 132 | 4,947 |
American Woodmark Corp. * | 70 | 5,089 |
Apogee Enterprises, Inc. | 190 | 9,411 |
Applied Industrial Technologies, Inc. | 229 | 9,460 |
Argan, Inc. | 185 | 6,836 |
Astec Industries, Inc. | 123 | 3,998 |
Astronics Corp. *(e) | 242 | 9,131 |
AZZ, Inc. | 190 | 10,513 |
Babcock & Wilcox Enterprises, Inc. * | 42,000 | 713,160 |
Barnes Group, Inc. | 21,130 | 794,277 |
Beacon Roofing Supply, Inc. * | 247 | 8,741 |
Blount International, Inc. * | 129 | 783 |
Blue Bird Corp. * | 110 | 1,190 |
Briggs & Stratton Corp. | 448 | 7,961 |
Builders FirstSource, Inc. * | 75,602 | 893,616 |
CAI International, Inc. * | 97 | 1,127 |
Chart Industries, Inc. * | 355 | 6,102 |
CIRCOR International, Inc. | 14,838 | 681,361 |
CLARCOR, Inc. | 311 | 15,506 |
Columbus McKinnon Corp. | 79 | 1,477 |
Security | Number of Shares | Value ($) |
Comfort Systems USA, Inc. | 210 | 6,705 |
Commercial Vehicle Group, Inc. * | 186 | 774 |
Continental Building Products, Inc. * | 21,057 | 369,972 |
Cubic Corp. | 34,800 | 1,560,780 |
Curtiss-Wright Corp. | 433 | 30,119 |
DigitalGlobe, Inc. * | 650 | 9,705 |
Ducommun, Inc. * | 33 | 714 |
DXP Enterprises, Inc. * | 129 | 3,904 |
Dycom Industries, Inc. * | 323 | 24,577 |
EMCOR Group, Inc. | 587 | 28,340 |
Encore Wire Corp. | 156 | 6,672 |
EnerSys | 266 | 16,223 |
Engility Holdings, Inc. | 249 | 8,015 |
EnPro Industries, Inc. | 253 | 12,425 |
ESCO Technologies, Inc. | 32,663 | 1,211,471 |
Esterline Technologies Corp. * | 284 | 21,882 |
Federal Signal Corp. | 464 | 6,988 |
Franklin Electric Co., Inc. | 393 | 12,953 |
FuelCell Energy, Inc. * | 3,306 | 2,924 |
GATX Corp. | 29,120 | 1,359,904 |
Generac Holdings, Inc. * | 534 | 16,853 |
General Cable Corp. | 410 | 6,310 |
Global Brass & Copper Holdings, Inc. | 78 | 1,754 |
Granite Construction, Inc. | 188 | 6,174 |
Griffon Corp. | 404 | 6,941 |
H&E Equipment Services, Inc. | 411 | 7,936 |
Harsco Corp. | 493 | 5,290 |
HC2 Holdings, Inc. * | 148 | 1,119 |
HEICO Corp. | 200 | 10,088 |
HEICO Corp., Class A | 233 | 10,177 |
Hexcel Corp. | 15,404 | 713,513 |
Hillenbrand, Inc. | 351 | 10,414 |
Hurco Cos., Inc. | 62 | 1,666 |
Hyster-Yale Materials Handling, Inc. | 88 | 5,150 |
Insteel Industries, Inc. | 78 | 1,668 |
John Bean Technologies Corp. | 331 | 14,849 |
Kadant, Inc. | 176 | 7,237 |
Kaman Corp. | 176 | 6,845 |
KLX, Inc. * | 311 | 12,163 |
L.B. Foster Co., Class A | 39 | 574 |
Lawson Products, Inc. * | 38 | 988 |
Lennox International, Inc. | 6,540 | 868,577 |
Lindsay Corp. | 135 | 9,150 |
LSI Industries, Inc. | 57 | 612 |
Luxfer Holdings plc ADR | 46,920 | 508,144 |
Lydall, Inc. * | 251 | 8,592 |
Masonite International Corp. * | 169 | 10,118 |
MasTec, Inc. * | 636 | 10,666 |
Meritor, Inc. * | 472 | 5,131 |
Miller Industries, Inc. | 263 | 5,965 |
Moog, Inc., Class A * | 313 | 19,331 |
MRC Global, Inc. * | 708 | 8,425 |
Mueller Industries, Inc. | 70,461 | 2,220,931 |
Mueller Water Products, Inc., Class A | 1,283 | 11,290 |
MYR Group, Inc. * | 220 | 4,950 |
National Presto Industries, Inc. | 23 | 2,025 |
Navistar International Corp. * | 302 | 3,715 |
NCI Building Systems, Inc. * | 471 | 4,927 |
Neff Corp., Class A * | 138 | 809 |
NN, Inc. | 119 | 1,642 |
Nortek, Inc. * | 45 | 2,761 |
Northwest Pipe Co. * | 60 | 793 |
Security | Number of Shares | Value ($) |
NV5 Holdings, Inc. * | 61 | 1,420 |
Omega Flex, Inc. | 119 | 4,919 |
Orion Marine Group, Inc. * | 142 | 555 |
Patrick Industries, Inc. * | 100 | 4,058 |
PGT, Inc. * | 248 | 2,991 |
Plug Power, Inc. * | 1,567 | 3,776 |
Ply Gem Holdings, Inc. * | 176 | 2,080 |
Powell Industries, Inc. | 43 | 1,433 |
Power Solutions International, Inc. * | 26 | 469 |
PowerSecure International, Inc. * | 43 | 536 |
Preformed Line Products Co. | 25 | 1,063 |
Primoris Services Corp. | 42,824 | 853,054 |
Proto Labs, Inc. * | 154 | 9,985 |
Raven Industries, Inc. | 296 | 5,390 |
RBC Bearings, Inc. * | 163 | 11,148 |
Rexnord Corp. * | 619 | 11,439 |
Rush Enterprises, Inc., Class A * | 275 | 6,705 |
Simpson Manufacturing Co., Inc. | 199 | 7,558 |
Sparton Corp. * | 100 | 2,353 |
Standex International Corp. | 110 | 9,869 |
Stock Building Supply Holdings, Inc. * | 91 | 1,572 |
Sun Hydraulics Corp. | 156 | 4,569 |
TAL International Group, Inc. * | 294 | 4,986 |
TASER International, Inc. * | 286 | 6,695 |
Teledyne Technologies, Inc. * | 264 | 23,557 |
Tennant Co. | 211 | 12,221 |
Textainer Group Holdings Ltd. | 16 | 313 |
The ExOne Co. * | 84 | 899 |
The Gorman-Rupp Co. | 178 | 5,089 |
The Greenbrier Cos., Inc. | 274 | 10,423 |
The KEYW Holding Corp. * | 316 | 2,253 |
Thermon Group Holdings, Inc. * | 29,435 | 591,938 |
Titan International, Inc. | 80 | 568 |
Trex Co., Inc. * | 281 | 10,979 |
TriMas Corp. * | 72,336 | 1,447,443 |
Tutor Perini Corp. * | 299 | 5,017 |
Twin Disc, Inc. | 175 | 2,062 |
Universal Forest Products, Inc. | 133 | 9,660 |
Vectrus, Inc. * | 57 | 1,418 |
Veritiv Corp. * | 37 | 1,554 |
Vicor Corp. * | 299 | 2,888 |
Wabash National Corp. * | 855 | 10,234 |
Watsco, Inc. | 6,390 | 786,162 |
Watts Water Technologies, Inc., Class A | 300 | 16,332 |
Woodward, Inc. | 430 | 19,565 |
Xerium Technologies, Inc. * | 350 | 4,725 |
18,194,657 | ||
Commercial & Professional Supplies 8.8% | ||
ABM Industries, Inc. | 310 | 8,804 |
Acacia Research Corp. | 130,873 | 871,614 |
ACCO Brands Corp. * | 147,197 | 1,187,880 |
ARC Document Solutions, Inc. * | 118,070 | 734,395 |
Barrett Business Services, Inc. | 134 | 6,563 |
Brady Corp., Class A | 485 | 11,034 |
CBIZ, Inc. * | 150 | 1,613 |
CDI Corp. | 118 | 944 |
CEB, Inc. | 200 | 14,952 |
CECO Environmental Corp. | 172 | 1,534 |
Civeo Corp. | 252 | 469 |
CRA International, Inc. * | 91 | 2,129 |
Security | Number of Shares | Value ($) |
Deluxe Corp. | 308 | 18,341 |
Essendant, Inc. | 44,793 | 1,548,494 |
Exponent, Inc. | 178 | 9,151 |
Franklin Covey Co. * | 70 | 1,199 |
FTI Consulting, Inc. * | 34,944 | 1,188,445 |
G&K Services, Inc., Class A | 29,973 | 1,972,823 |
GP Strategies Corp. * | 255 | 6,398 |
Healthcare Services Group, Inc. | 605 | 22,542 |
Heidrick & Struggles International, Inc. | 102 | 2,709 |
Heritage-Crystal Clean, Inc. * | 114 | 1,359 |
Herman Miller, Inc. | 360 | 11,423 |
HNI Corp. | 417 | 17,906 |
Huron Consulting Group, Inc. * | 5,425 | 262,028 |
ICF International, Inc. * | 296 | 9,078 |
Insperity, Inc. | 225 | 10,454 |
Interface, Inc. | 552 | 10,792 |
Kelly Services, Inc., Class A | 381 | 6,020 |
Kforce, Inc. | 338 | 9,501 |
Kimball International, Inc., Class B | 165 | 1,802 |
Knoll, Inc. | 226 | 5,252 |
Korn/Ferry International | 412 | 14,984 |
Matthews International Corp., Class A | 23,938 | 1,381,941 |
McGrath RentCorp | 152 | 4,568 |
Mistras Group, Inc. * | 47,676 | 902,030 |
Mobile Mini, Inc. | 380 | 13,011 |
MSA Safety, Inc. | 316 | 13,740 |
Multi-Color Corp. | 58 | 4,515 |
Navigant Consulting, Inc. * | 112 | 1,926 |
NL Industries, Inc. * | 152 | 531 |
On Assignment, Inc. * | 23,898 | 1,078,039 |
Pendrell Corp. * | 1,575 | 1,055 |
Resources Connection, Inc. | 434 | 7,790 |
RPX Corp. * | 155 | 2,207 |
SP Plus Corp. * | 58,710 | 1,497,105 |
Steelcase, Inc., Class A | 43,433 | 843,035 |
Team, Inc. * | 247 | 8,645 |
Tetra Tech, Inc. | 630 | 16,947 |
The Advisory Board Co. * | 24,252 | 1,062,965 |
The Brink's Co. | 217 | 6,723 |
TriNet Group, Inc. * | 427 | 8,104 |
TrueBlue, Inc. * | 239 | 6,924 |
UniFirst Corp. | 132 | 13,869 |
US Ecology, Inc. | 159 | 6,234 |
Viad Corp. | 274 | 8,250 |
Volt Information Sciences, Inc. * | 83 | 715 |
VSE Corp. | 41 | 2,356 |
WageWorks, Inc. * | 280 | 13,446 |
West Corp. | 213 | 5,072 |
14,884,375 | ||
Consumer Durables & Apparel 4.2% | ||
Bassett Furniture Industries, Inc. | 51 | 1,630 |
Beazer Homes USA, Inc. * | 116 | 1,652 |
CalAtlantic Group, Inc. * | 630 | 23,997 |
Callaway Golf Co. | 1,174 | 11,681 |
Cavco Industries, Inc. * | 63 | 6,212 |
Century Communities, Inc. * | 68 | 1,297 |
Cherokee, Inc. * | 53 | 962 |
Columbia Sportswear Co. | 15,650 | 858,403 |
Crocs, Inc. * | 425 | 4,590 |
CSS Industries, Inc. | 196 | 5,351 |
Security | Number of Shares | Value ($) |
Deckers Outdoor Corp. * | 210 | 11,689 |
Escalade, Inc. | 75 | 1,112 |
Ethan Allen Interiors, Inc. | 330 | 8,979 |
Flexsteel Industries, Inc. | 70 | 3,044 |
G-III Apparel Group Ltd. * | 304 | 16,747 |
Green Brick Partners, Inc. * | 135 | 1,424 |
Helen of Troy Ltd. * | 14,769 | 1,465,233 |
Hooker Furniture Corp. | 57 | 1,415 |
Hovnanian Enterprises, Inc., Class A * | 257 | 529 |
Iconix Brand Group, Inc. * | 180 | 2,758 |
Installed Building Products, Inc. * | 62 | 1,373 |
iRobot Corp. * | 301 | 9,033 |
Johnson Outdoors, Inc., Class A | 37 | 793 |
KB Home | 915 | 11,987 |
La-Z-Boy, Inc. | 16,075 | 458,941 |
LGI Homes, Inc. * | 73 | 2,046 |
Libbey, Inc. | 233 | 7,838 |
Lifetime Brands, Inc. | 127 | 1,952 |
M.D.C. Holdings, Inc. | 200 | 5,198 |
M/I Homes, Inc. * | 32,936 | 755,881 |
Malibu Boats, Inc., Class A * | 33 | 469 |
Marine Products Corp. | 229 | 1,619 |
Meritage Homes Corp. * | 360 | 12,694 |
Movado Group, Inc. | 110 | 2,831 |
NACCO Industries, Inc., Class A | 44 | 1,973 |
Nautilus, Inc. * | 68 | 1,159 |
Oxford Industries, Inc. | 166 | 12,088 |
Performance Sports Group Ltd. * | 40,342 | 463,126 |
Perry Ellis International, Inc. * | 300 | 6,441 |
Sequential Brands Group, Inc. * | 175 | 2,189 |
Smith & Wesson Holding Corp. * | 673 | 12,020 |
Steven Madden Ltd. * | 471 | 16,414 |
Sturm, Ruger & Co., Inc. | 143 | 8,142 |
Superior Uniform Group, Inc. | 88 | 1,500 |
Taylor Morrison Home Corp., Class A * | 69 | 1,272 |
The New Home Co., Inc. * | 84 | 1,202 |
TRI Pointe Group, Inc. * | 103,517 | 1,343,651 |
Tumi Holdings, Inc. * | 307 | 4,921 |
UCP, Inc., Class A * | 11,986 | 80,306 |
Unifi, Inc. * | 65 | 1,988 |
Universal Electronics, Inc. * | 111 | 5,280 |
Vera Bradley, Inc. * | 217 | 2,715 |
Vince Holding Corp. * | 65 | 296 |
WCI Communities, Inc. * | 57 | 1,362 |
William Lyon Homes, Class A * | 69,468 | 1,482,447 |
Wolverine World Wide, Inc. | 889 | 16,509 |
ZAGG, Inc. * | 78 | 661 |
7,169,022 | ||
Consumer Services 0.9% | ||
2U, Inc. * | 28 | 587 |
American Public Education, Inc. * | 73 | 1,586 |
Apollo Education Group, Inc. * | 351 | 2,548 |
Ascent Capital Group, Inc., Class A * | 118 | 2,570 |
Belmond Ltd., Class A * | 476 | 5,112 |
Biglari Holdings, Inc. * | 15 | 5,762 |
BJ's Restaurants, Inc. * | 248 | 10,647 |
Bloomin' Brands, Inc. | 757 | 12,846 |
Bob Evans Farms, Inc. | 234 | 10,125 |
Bojangles', Inc. * | 62 | 1,031 |
Boyd Gaming Corp. * | 781 | 15,612 |
Security | Number of Shares | Value ($) |
Bravo Brio Restaurant Group, Inc. * | 350 | 4,109 |
Bridgepoint Education, Inc. * | 135 | 1,046 |
Bright Horizons Family Solutions, Inc. * | 205 | 13,124 |
Buffalo Wild Wings, Inc. * | 125 | 19,284 |
Caesars Acquisition Co., Class A * | 318 | 2,328 |
Caesars Entertainment Corp. * | 511 | 4,114 |
Cambium Learning Group, Inc. * | 344 | 1,655 |
Capella Education Co. | 123 | 5,553 |
Career Education Corp. * | 498 | 1,798 |
Carrols Restaurant Group, Inc. * | 137 | 1,611 |
Chegg, Inc. * | 514 | 3,547 |
Churchill Downs, Inc. | 120 | 17,620 |
Chuy's Holdings, Inc. * | 95 | 2,585 |
ClubCorp Holdings, Inc. | 177 | 3,618 |
Collectors Universe, Inc. | 127 | 2,196 |
Cracker Barrel Old Country Store, Inc. | 181 | 24,880 |
Dave & Buster's Entertainment, Inc. * | 39 | 1,505 |
Del Frisco's Restaurant Group, Inc. * | 78 | 1,051 |
Denny's Corp. * | 1,014 | 11,113 |
DeVry Education Group, Inc. | 602 | 14,183 |
Diamond Resorts International, Inc. * | 253 | 7,195 |
DineEquity, Inc. | 126 | 10,515 |
El Pollo Loco Holdings, Inc. * | 260 | 2,985 |
Eldorado Resorts, Inc. * | 194 | 1,921 |
Empire Resorts, Inc. * | 279 | 1,295 |
Fiesta Restaurant Group, Inc. * | 4,622 | 163,434 |
Grand Canyon Education, Inc. * | 446 | 18,536 |
Houghton Mifflin Harcourt Co. * | 891 | 17,455 |
International Speedway Corp., Class A | 2,106 | 73,057 |
Interval Leisure Group, Inc. | 313 | 5,524 |
Intrawest Resorts Holdings, Inc. * | 119 | 1,066 |
Isle of Capri Casinos, Inc. * | 233 | 4,457 |
J Alexander's Holdings, Inc. * | 62 | 598 |
Jack in the Box, Inc. | 320 | 23,850 |
K12, Inc. * | 350 | 3,399 |
Kona Grill, Inc. * | 71 | 976 |
Krispy Kreme Doughnuts, Inc. * | 51,877 | 710,196 |
La Quinta Holdings, Inc. * | 541 | 8,196 |
Liberty Tax, Inc. | 105 | 2,424 |
LifeLock, Inc. * | 434 | 6,080 |
Marriott Vacations Worldwide Corp. | 253 | 16,293 |
Monarch Casino & Resort, Inc. * | 67 | 1,470 |
Morgans Hotel Group Co. * | 452 | 1,623 |
Noodles & Co. * | 96 | 1,418 |
Papa John's International, Inc. | 290 | 20,349 |
Papa Murphy's Holdings, Inc. * | 70 | 967 |
Penn National Gaming, Inc. * | 663 | 11,841 |
Pinnacle Entertainment, Inc. * | 548 | 19,185 |
Popeyes Louisiana Kitchen, Inc. * | 234 | 13,207 |
Potbelly Corp. * | 114 | 1,277 |
Red Robin Gourmet Burgers, Inc. * | 166 | 12,432 |
Regis Corp. * | 305 | 5,039 |
Scientific Games Corp., Class A * | 423 | 4,691 |
SeaWorld Entertainment, Inc. | 582 | 11,599 |
Shake Shack, Inc., Class A * | 23 | 1,048 |
Sonic Corp. | 550 | 15,697 |
Sotheby's | 501 | 17,360 |
Speedway Motorsports, Inc. | 96 | 1,773 |
Steiner Leisure Ltd. * | 92 | 5,829 |
Strayer Education, Inc. * | 108 | 5,715 |
Texas Roadhouse, Inc. | 423 | 14,530 |
The Cheesecake Factory, Inc. | 255 | 12,291 |
Security | Number of Shares | Value ($) |
The Habit Restaurants, Inc., Class A * | 43 | 1,027 |
The Marcus Corp. | 350 | 7,241 |
Universal Technical Institute, Inc. | 400 | 1,700 |
Vail Resorts, Inc. | 242 | 27,629 |
Weight Watchers International, Inc. * | 200 | 3,076 |
Zoe's Kitchen, Inc. * | 37 | 1,274 |
1,506,086 | ||
Diversified Financials 1.8% | ||
Arlington Asset Investment Corp., Class A | 230 | 3,186 |
Ashford, Inc. * | 10 | 643 |
BGC Partners, Inc., Class A | 1,225 | 10,596 |
Calamos Asset Management, Inc., Class A | 525 | 4,930 |
Cash America International, Inc. | 192 | 6,630 |
CIFC Corp. | 183 | 1,266 |
Cohen & Steers, Inc. | 135 | 4,130 |
Cowen Group, Inc., Class A * | 568 | 2,391 |
Diamond Hill Investment Group, Inc. | 21 | 4,201 |
Encore Capital Group, Inc. * | 184 | 7,489 |
Enova International, Inc. * | 261 | 3,393 |
Evercore Partners, Inc., Class A | 278 | 15,012 |
Ezcorp, Inc., Class A * | 574 | 3,823 |
Fifth Street Asset Management, Inc. | 40 | 234 |
Financial Engines, Inc. | 484 | 15,565 |
First Cash Financial Services, Inc. * | 309 | 11,788 |
FNFV Group * | 360 | 4,046 |
Gain Capital Holdings, Inc. | 178,142 | 1,327,158 |
GAMCO Investors, Inc., Class A | 30 | 1,730 |
Green Dot Corp., Class A * | 85 | 1,576 |
Greenhill & Co., Inc. | 139 | 3,589 |
HFF, Inc., Class A | 301 | 10,391 |
INTL FCStone, Inc. * | 26 | 832 |
Investment Technology Group, Inc. | 361 | 5,780 |
Janus Capital Group, Inc. | 948 | 14,722 |
KCG Holdings, Inc., Class A * | 502 | 6,270 |
Ladenburg Thalmann Financial Services, Inc. * | 1,958 | 4,973 |
MarketAxess Holdings, Inc. | 329 | 33,331 |
Marlin Business Services Corp. | 80 | 1,413 |
Medley Management, Inc., Class A | 121 | 888 |
Moelis & Co., Class A | 51 | 1,503 |
Nelnet, Inc., Class A | 172 | 6,154 |
NewStar Financial, Inc. * | 255 | 2,690 |
OM Asset Management plc | 80 | 1,214 |
On Deck Capital, Inc. * | 115 | 1,095 |
Oppenheimer Holdings, Inc., Class A | 71 | 1,303 |
PICO Holdings, Inc. * | 73,334 | 708,406 |
Piper Jaffray Cos. * | 236 | 8,395 |
PRA Group, Inc. * | 445 | 24,386 |
Pzena Investment Management, Inc., Class A | 326 | 3,107 |
RCS Capital Corp., Class A * | 121 | 92 |
Regional Management Corp. * | 66 | 1,076 |
Resource America, Inc., Class A | 210 | 1,615 |
Safeguard Scientifics, Inc. * | 390 | 6,923 |
Solar Capital Ltd. | 37,320 | 646,009 |
Stifel Financial Corp. * | 435 | 19,327 |
The JG Wentworth Co., Class A * | 65 | 333 |
Tiptree Financial, Inc., Class A | 206 | 1,395 |
Security | Number of Shares | Value ($) |
Virtu Financial, Inc., Class A | 62 | 1,500 |
Virtus Investment Partners, Inc. | 53 | 6,203 |
Westwood Holdings Group, Inc. | 44 | 2,556 |
WisdomTree Investments, Inc. | 942 | 18,115 |
World Acceptance Corp. * | 106 | 4,042 |
ZAIS Group Holdings, Inc. * | 131 | 1,361 |
2,980,776 | ||
Energy 6.0% | ||
Abraxas Petroleum Corp. * | 646 | 1,027 |
Adams Resources & Energy, Inc. | 80 | 3,557 |
Alon USA Energy, Inc. | 77 | 1,290 |
Ardmore Shipping Corp. | 54 | 775 |
Atwood Oceanics, Inc. | 638 | 10,559 |
Basic Energy Services, Inc. * | 197 | 731 |
Bill Barrett Corp. * | 355 | 1,729 |
Bonanza Creek Energy, Inc. * | 268 | 1,525 |
Bristow Group, Inc. | 308 | 10,697 |
C&J Energy Services Ltd. * | 545 | 2,720 |
Callon Petroleum Co. * | 425 | 3,689 |
CARBO Ceramics, Inc. | 192 | 3,364 |
Carrizo Oil & Gas, Inc. * | 495 | 18,627 |
Clayton Williams Energy, Inc. * | 50 | 2,978 |
Clean Energy Fuels Corp. * | 428 | 2,418 |
Cloud Peak Energy, Inc. * | 604 | 1,794 |
Contango Oil & Gas Co. * | 98 | 750 |
Delek US Holdings, Inc. | 515 | 14,008 |
DHT Holdings, Inc. | 1,141 | 8,968 |
Dorian LPG Ltd. * | 54,676 | 644,083 |
Earthstone Energy, Inc. * | 75 | 1,054 |
Eclipse Resources Corp. * | 258 | 555 |
Energy Fuels, Inc. * | 294 | 800 |
Energy XXI Ltd. | 1,132 | 1,958 |
Era Group, Inc. * | 34,543 | 480,493 |
Erin Energy Corp. * | 327 | 1,308 |
Evolution Petroleum Corp. | 368 | 2,539 |
EXCO Resources, Inc. * | 1,244 | 1,393 |
Exterran Holdings, Inc. | 687 | 14,935 |
Fairmount Santrol Holdings, Inc. * | 159 | 425 |
Forum Energy Technologies, Inc. * | 710 | 9,407 |
Frontline Ltd. * | 849 | 2,683 |
GasLog Ltd. | 101,259 | 1,171,567 |
Gastar Exploration, Inc. * | 637 | 1,000 |
Geospace Technologies Corp. * | 127 | 1,951 |
Golar LNG Ltd. | 52,696 | 1,528,711 |
Green Plains, Inc. | 171 | 3,507 |
Halcon Resources Corp. * | 2,678 | 1,878 |
Hallador Energy Co. | 121 | 737 |
Helix Energy Solutions Group, Inc. * | 1,143 | 6,607 |
Hornbeck Offshore Services, Inc. * | 271 | 3,661 |
Independence Contract Drilling, Inc. * | 167 | 1,174 |
InterOil Corp. * | 47,990 | 1,836,097 |
ION Geophysical Corp. * | 1,487 | 550 |
Isramco, Inc. * | 35 | 3,325 |
Jones Energy, Inc., Class A * | 151 | 776 |
Key Energy Services, Inc. * | 1,526 | 802 |
Magnum Hunter Resources Corp. * | 2,000 | 532 |
Matador Resources Co. * | 665 | 17,097 |
McDermott International, Inc. * | 2,022 | 9,321 |
Natural Gas Services Group, Inc. * | 230 | 5,180 |
Navios Maritime Acquisition Corp. | 707 | 2,531 |
Security | Number of Shares | Value ($) |
Newpark Resources, Inc. * | 427 | 2,417 |
Nordic American Offshore Ltd. * | 196 | 1,182 |
Nordic American Tankers Ltd. | 364 | 5,562 |
North Atlantic Drilling Ltd. * | 402 | 332 |
Northern Oil & Gas, Inc. * | 487 | 2,454 |
Oasis Petroleum, Inc. * | 1,145 | 13,316 |
Oil States International, Inc. * | 237 | 7,112 |
Pacific Ethanol, Inc. * | 20 | 120 |
Panhandle Oil & Gas, Inc., Class A | 112 | 2,059 |
Par Pacific Holdings, Inc. * | 66 | 1,505 |
Parker Drilling Co. * | 1,022 | 2,923 |
Parsley Energy, Inc., Class A * | 518 | 9,184 |
PDC Energy, Inc. * | 402 | 24,257 |
Peabody Energy Corp. | 38 | 486 |
Penn Virginia Corp. * | 604 | 374 |
PHI, Inc. - Non Voting Shares * | 154 | 2,932 |
Pioneer Energy Services Corp. * | 565 | 1,305 |
Renewable Energy Group, Inc. * | 128 | 1,010 |
REX American Resources Corp. * | 47 | 2,581 |
Rex Energy Corp. * | 550 | 1,243 |
RigNet, Inc. * | 67 | 2,010 |
Ring Energy, Inc. * | 107 | 1,112 |
RSP Permian, Inc. * | 44,565 | 1,221,972 |
Sanchez Energy Corp. * | 321 | 1,910 |
SandRidge Energy, Inc. * | 415 | 154 |
Scorpio Tankers, Inc. | 176,424 | 1,608,987 |
SEACOR Holdings, Inc. * | 16,474 | 962,411 |
SemGroup Corp., Class A | 335 | 15,259 |
Seventy Seven Energy, Inc. * | 275 | 313 |
Ship Finance International Ltd. | 691 | 11,809 |
Solazyme, Inc. * | 781 | 2,562 |
Stone Energy Corp. * | 432 | 2,415 |
Synergy Resources Corp. * | 640 | 7,162 |
Teekay Tankers Ltd., Class A | 1,039 | 7,938 |
Tesco Corp. | 39,600 | 316,800 |
TETRA Technologies, Inc. * | 860 | 5,796 |
Tidewater, Inc. | 355 | 4,384 |
TransAtlantic Petroleum Ltd. * | 161 | 407 |
Triangle Petroleum Corp. * | 903 | 1,084 |
Ultra Petroleum Corp. * | 774 | 4,241 |
Unit Corp. * | 178 | 2,245 |
Uranium Energy Corp. * | 861 | 964 |
US Silica Holdings, Inc. | 493 | 8,904 |
W&T Offshore, Inc. | 247 | 805 |
Western Refining, Inc. | 532 | 22,142 |
Westmoreland Coal Co. * | 151 | 1,081 |
10,147,064 | ||
Food & Staples Retailing 0.6% | ||
Casey's General Stores, Inc. | 9,151 | 972,019 |
Fairway Group Holdings Corp. * | 350 | 406 |
Ingles Markets, Inc., Class A | 68 | 3,396 |
Natural Grocers by Vitamin Cottage, Inc. * | 79 | 1,892 |
PriceSmart, Inc. | 184 | 15,820 |
Smart & Final Stores, Inc. * | 81 | 1,194 |
SpartanNash, Co. | 442 | 12,332 |
SUPERVALU, Inc. * | 1,518 | 9,973 |
The Andersons, Inc. | 191 | 6,761 |
The Chefs' Warehouse, Inc. * | 99 | 1,500 |
The Fresh Market, Inc. * | 352 | 8,772 |
Security | Number of Shares | Value ($) |
United Natural Foods, Inc. * | 332 | 16,750 |
Village Super Market, Inc., Class A | 150 | 3,759 |
Weis Markets, Inc. | 99 | 4,073 |
1,058,647 | ||
Food, Beverage & Tobacco 1.2% | ||
Alico, Inc. | 40 | 1,708 |
Arcadia Biosciences, Inc. * | 233 | 652 |
B&G Foods, Inc. | 316 | 11,468 |
Boulder Brands, Inc. * | 519 | 4,598 |
Cal-Maine Foods, Inc. | 262 | 14,007 |
Calavo Growers, Inc. | 64 | 3,290 |
Castle Brands, Inc. * | 952 | 1,238 |
Coca-Cola Bottling Co. Consolidated | 28 | 5,914 |
Craft Brew Alliance, Inc. * | 211 | 1,616 |
Darling Ingredients, Inc. * | 1,615 | 16,344 |
Dean Foods Co. | 802 | 14,524 |
Diamond Foods, Inc. * | 60 | 2,377 |
Farmer Bros. Co. * | 120 | 3,406 |
Fresh Del Monte Produce, Inc. | 257 | 11,727 |
Freshpet, Inc. * | 70 | 683 |
Inventure Foods, Inc. * | 208 | 1,801 |
J&J Snack Foods Corp. | 97 | 11,911 |
John B. Sanfilippo & Son, Inc. | 86 | 5,566 |
Lancaster Colony Corp. | 179 | 20,356 |
Lifeway Foods, Inc. * | 98 | 1,112 |
Limoneira Co. | 88 | 1,396 |
MGP Ingredients, Inc. | 87 | 1,508 |
National Beverage Corp. * | 228 | 8,582 |
Post Holdings, Inc. * | 19,133 | 1,229,678 |
Sanderson Farms, Inc. | 123 | 8,550 |
Seaboard Corp. * | 2 | 6,736 |
Seneca Foods Corp., Class A * | 55 | 1,605 |
Snyder's-Lance, Inc. | 528 | 18,765 |
The Boston Beer Co., Inc., Class A * | 82 | 18,006 |
The Hain Celestial Group, Inc. * | 10,833 | 540,025 |
Tootsie Roll Industries, Inc. | 56 | 1,777 |
TreeHouse Foods, Inc. * | 321 | 27,490 |
Universal Corp. | 104 | 5,617 |
Vector Group Ltd. | 542 | 13,143 |
2,017,176 | ||
Health Care Equipment & Services 8.6% | ||
AAC Holdings, Inc. * | 34 | 789 |
Abaxis, Inc. | 162 | 8,134 |
ABIOMED, Inc. * | 8,450 | 622,427 |
Acadia Healthcare Co., Inc. * | 14,103 | 866,065 |
Accuray, Inc. * | 764 | 5,119 |
Aceto Corp. | 352 | 10,616 |
Adeptus Health, Inc., Class A * | 16 | 1,038 |
Air Methods Corp. * | 218 | 8,923 |
Alliance HealthCare Services, Inc. * | 105 | 888 |
Allscripts Healthcare Solutions, Inc. * | 94,360 | 1,326,702 |
Amedisys, Inc. * | 328 | 12,982 |
AMN Healthcare Services, Inc. * | 31,114 | 882,704 |
Amsurg Corp. * | 9,998 | 700,760 |
Analogic Corp. | 146 | 12,793 |
AngioDynamics, Inc. * | 88 | 1,107 |
Anika Therapeutics, Inc. * | 42 | 1,618 |
Antares Pharma, Inc. * | 419 | 578 |
Security | Number of Shares | Value ($) |
AtriCure, Inc. * | 367 | 6,799 |
Atrion Corp. | 18 | 6,642 |
BioScrip, Inc. * | 891 | 1,755 |
BioTelemetry, Inc. * | 148 | 1,927 |
Cantel Medical Corp. | 294 | 17,428 |
Capital Senior Living Corp. * | 91 | 2,058 |
Cardiovascular Systems, Inc. * | 172 | 2,356 |
Castlight Health, Inc., Class B * | 117 | 592 |
Cerus Corp. * | 389 | 1,856 |
Chemed Corp. | 162 | 25,481 |
Civitas Solutions, Inc. * | 1,017 | 26,167 |
Computer Programs & Systems, Inc. | 180 | 6,842 |
CONMED Corp. | 284 | 11,519 |
Connecture, Inc. * | 77 | 454 |
Corindus Vascular Robotics, Inc. * | 337 | 1,078 |
CorVel Corp. * | 15,088 | 500,922 |
Cutera, Inc. * | 46 | 624 |
Cynosure, Inc., Class A * | 51 | 1,920 |
Diplomat Pharmacy, Inc. * | 183 | 5,144 |
EndoChoice Holdings, Inc. * | 23,320 | 240,662 |
Endologix, Inc. * | 422 | 3,604 |
Entellus Medical, Inc. * | 56 | 951 |
Exactech, Inc. * | 178 | 3,031 |
ExamWorks Group, Inc. * | 396 | 11,183 |
Five Star Quality Care, Inc. * | 326 | 1,066 |
Genesis Healthcare, Inc. * | 239 | 1,185 |
GenMark Diagnostics, Inc. * | 323 | 2,054 |
Globus Medical, Inc., Class A * | 36,131 | 807,528 |
Greatbatch, Inc. * | 161 | 8,605 |
Haemonetics Corp. * | 31,318 | 1,057,922 |
Halyard Health, Inc. * | 474 | 14,068 |
Hanger, Inc. * | 356 | 5,134 |
HealthEquity, Inc. * | 159 | 5,201 |
HealthSouth Corp. | 22,083 | 769,151 |
HealthStream, Inc. * | 236 | 5,619 |
Healthways, Inc. * | 78 | 918 |
HeartWare International, Inc. * | 144 | 6,219 |
Hill-Rom Holdings, Inc. | 17,490 | 921,548 |
HMS Holdings Corp. * | 647 | 6,813 |
ICU Medical, Inc. * | 6,742 | 741,418 |
Imprivata, Inc. * | 89 | 960 |
Inogen, Inc. * | 33 | 1,410 |
Insulet Corp. * | 426 | 12,737 |
Integra LifeSciences Holdings Corp. * | 258 | 15,369 |
Invacare Corp. | 65 | 1,123 |
InVivo Therapeutics Holdings Corp. * | 83 | 603 |
IPC Healthcare, Inc. * | 208 | 16,328 |
iRadimed Corp. * | 63 | 1,670 |
K2M Group Holdings, Inc. * | 60 | 1,095 |
Kindred Healthcare, Inc. | 658 | 8,817 |
Landauer, Inc. | 74 | 2,922 |
LDR Holding Corp. * | 85 | 2,151 |
LeMaitre Vascular, Inc. | 134 | 1,785 |
LHC Group, Inc. * | 187 | 8,427 |
LivaNova plc * | 288 | 19,089 |
Magellan Health, Inc. * | 249 | 13,297 |
Masimo Corp. * | 253 | 10,039 |
MedAssets, Inc. * | 45,345 | 1,073,770 |
Medidata Solutions, Inc. * | 503 | 21,629 |
Meridian Bioscience, Inc. | 95 | 1,806 |
Merit Medical Systems, Inc. * | 495 | 9,177 |
Molina Healthcare, Inc. * | 235 | 14,570 |
Security | Number of Shares | Value ($) |
National HealthCare Corp. | 93 | 6,071 |
National Research Corp., Class A | 104 | 1,594 |
Natus Medical, Inc. * | 354 | 16,118 |
Neogen Corp. * | 304 | 16,431 |
Nevro Corp. * | 26 | 1,060 |
Nobilis Health Corp. * | 215 | 606 |
NuVasive, Inc. * | 393 | 18,534 |
NxStage Medical, Inc. * | 75,948 | 1,269,091 |
Omnicell, Inc. * | 386 | 10,499 |
Orthofix International N.V. * | 107 | 3,643 |
Owens & Minor, Inc. | 547 | 19,610 |
Oxford Immunotec Global plc * | 100 | 1,254 |
PharMerica Corp. * | 382 | 10,914 |
Press Ganey Holdings, Inc. * | 55 | 1,724 |
Quality Systems, Inc. | 250 | 3,513 |
Quidel Corp. * | 62 | 1,192 |
Rockwell Medical, Inc. * | 418 | 4,840 |
RTI Surgical, Inc. * | 213 | 896 |
SeaSpine Holdings Corp. * | 86 | 1,297 |
Second Sight Medical Products, Inc. * | 168 | 988 |
Select Medical Holdings Corp. | 1,001 | 11,311 |
Sientra, Inc. * | 57 | 214 |
STAAR Surgical Co. * | 395 | 3,219 |
STERIS Corp. | 21,311 | 1,597,260 |
Surgical Care Affiliates, Inc. * | 37 | 1,096 |
SurModics, Inc. * | 218 | 4,650 |
Tandem Diabetes Care, Inc. * | 124 | 1,125 |
Team Health Holdings, Inc. * | 491 | 29,298 |
The Ensign Group, Inc. | 165 | 6,956 |
The Providence Service Corp. * | 187 | 9,659 |
The Spectranetics Corp. * | 535 | 6,538 |
TransEnterix, Inc. * | 315 | 784 |
Trinity Biotech plc ADR | 46,555 | 522,813 |
Trupanion, Inc. * | 171 | 1,124 |
U.S. Physical Therapy, Inc. | 27 | 1,325 |
Unilife Corp. * | 555 | 418 |
Universal American Corp. | 236 | 1,761 |
Utah Medical Products, Inc. | 34 | 2,005 |
Vascular Solutions, Inc. * | 225 | 7,227 |
Veracyte, Inc. * | 126 | 820 |
Vocera Communications, Inc. * | 111 | 1,307 |
WellCare Health Plans, Inc. * | 307 | 27,200 |
West Pharmaceutical Services, Inc. | 547 | 32,826 |
Wright Medical Group N.V. * | 555 | 10,728 |
Zeltiq Aesthetics, Inc. * | 95 | 3,205 |
14,612,205 | ||
Household & Personal Products 0.0% | ||
Central Garden & Pet Co., Class A * | 440 | 7,427 |
HRG Group, Inc. * | 477 | 6,416 |
Inter Parfums, Inc. | 107 | 2,955 |
Natural Health Trends Corp. | 33 | 1,626 |
Nature's Sunshine Products, Inc. | 105 | 1,244 |
Nutraceutical International Corp. * | 84 | 2,058 |
Oil-Dri Corp. of America | 61 | 1,914 |
Revlon, Inc., Class A * | 69 | 2,165 |
Synutra International, Inc. * | 329 | 1,879 |
USANA Health Sciences, Inc. * | 63 | 8,102 |
WD-40 Co. | 99 | 9,462 |
45,248 |
Security | Number of Shares | Value ($) |
Insurance 1.3% | ||
Ambac Financial Group, Inc. * | 456 | 7,364 |
American Equity Investment Life Holding Co. | 734 | 18,849 |
AMERISAFE, Inc. | 9,061 | 495,909 |
Argo Group International Holdings Ltd. | 185 | 11,566 |
Atlas Financial Holdings, Inc. * | 74 | 1,407 |
Baldwin & Lyons, Inc., Class B | 70 | 1,626 |
Citizens, Inc. * | 419 | 3,520 |
CNO Financial Group, Inc. | 1,748 | 33,579 |
Crawford & Co., Class B | 204 | 1,224 |
Donegal Group, Inc., Class A | 120 | 1,698 |
eHealth, Inc. * | 289 | 3,454 |
EMC Insurance Group, Inc. | 96 | 2,400 |
Employers Holdings, Inc. | 297 | 7,862 |
Enstar Group Ltd. * | 83 | 13,097 |
FBL Financial Group, Inc., Class A | 152 | 9,561 |
Federated National Holding Co. | 70 | 2,155 |
Fidelity & Guaranty Life | 60 | 1,602 |
First American Financial Corp. | 720 | 27,454 |
Global Indemnity plc * | 72 | 2,046 |
Greenlight Capital Re Ltd., Class A * | 42 | 922 |
Hallmark Financial Services, Inc. * | 183 | 2,377 |
HCI Group, Inc. | 177 | 7,719 |
Heritage Insurance Holdings, Inc. * | 64 | 1,416 |
Horace Mann Educators Corp. | 328 | 11,231 |
Independence Holding Co. | 146 | 1,980 |
Infinity Property & Casualty Corp. | 74 | 5,958 |
James River Group Holdings Ltd. | 58 | 1,707 |
Kansas City Life Insurance Co. | 45 | 2,206 |
Kemper Corp. | 333 | 11,895 |
Maiden Holdings Ltd. | 470 | 7,308 |
MBIA, Inc. * | 529 | 3,973 |
National General Holdings Corp. | 189 | 3,725 |
National Interstate Corp. | 57 | 1,636 |
National Western Life Group, Inc., Class A | 9 | 2,322 |
Patriot National, Inc. * | 90 | 1,143 |
Primerica, Inc. | 27,507 | 1,310,158 |
RLI Corp. | 420 | 25,557 |
Safety Insurance Group, Inc. | 100 | 5,795 |
Selective Insurance Group, Inc. | 571 | 20,836 |
State Auto Financial Corp. | 93 | 2,218 |
State National Cos., Inc. | 133 | 1,201 |
Stewart Information Services Corp. | 81 | 3,254 |
Symetra Financial Corp. | 632 | 20,053 |
The Navigators Group, Inc. * | 89 | 7,596 |
Third Point Reinsurance Ltd. * | 394 | 5,386 |
United Fire Group, Inc. | 216 | 8,033 |
United Insurance Holdings Corp. | 4 | 66 |
Universal Insurance Holdings, Inc. | 89 | 2,808 |
2,126,852 | ||
Materials 2.6% | ||
A. Schulman, Inc. | 317 | 11,377 |
AEP Industries, Inc. * | 26 | 2,080 |
AK Steel Holding Corp. * | 1,714 | 4,954 |
American Vanguard Corp. | 404 | 5,418 |
Axiall Corp. | 538 | 10,895 |
Balchem Corp. | 318 | 21,719 |
Security | Number of Shares | Value ($) |
Berry Plastics Group, Inc. * | 785 | 26,298 |
Boise Cascade Co. * | 190 | 5,687 |
Calgon Carbon Corp. | 171 | 2,941 |
Carpenter Technology Corp. | 411 | 13,690 |
Century Aluminum Co. * | 557 | 2,016 |
Chase Corp. | 76 | 3,375 |
Chemtura Corp. * | 497 | 15,874 |
Clearwater Paper Corp. * | 229 | 11,549 |
Cliffs Natural Resources, Inc. | 303 | 836 |
Coeur Mining, Inc. * | 993 | 2,681 |
Commercial Metals Co. | 593 | 8,521 |
Core Molding Technologies, Inc. * | 63 | 1,263 |
Deltic Timber Corp. | 18,356 | 1,137,338 |
Ferro Corp. * | 884 | 11,041 |
Flotek Industries, Inc. * | 556 | 10,064 |
FutureFuel Corp. | 348 | 5,363 |
Globe Specialty Metals, Inc. | 678 | 8,556 |
Greif, Inc., Class A | 23,279 | 763,086 |
H.B. Fuller Co. | 262 | 9,953 |
Handy & Harman Ltd. * | 99 | 2,351 |
Hawkins, Inc. | 42 | 1,741 |
Haynes International, Inc. | 111 | 4,379 |
Headwaters, Inc. * | 417 | 8,569 |
Hecla Mining Co. | 2,963 | 6,133 |
Horsehead Holding Corp. * | 332 | 943 |
Innophos Holdings, Inc. | 249 | 10,580 |
Innospec, Inc. | 9,819 | 542,402 |
Intrepid Potash, Inc. * | 155 | 598 |
Kaiser Aluminum Corp. | 73 | 5,934 |
KapStone Paper & Packaging Corp. | 467 | 10,157 |
KMG Chemicals, Inc. | 78 | 1,641 |
Koppers Holdings, Inc. | 252 | 4,778 |
Kraton Performance Polymers, Inc. * | 464 | 9,461 |
Kronos Worldwide, Inc. | 152 | 1,201 |
Louisiana-Pacific Corp. * | 1,079 | 19,055 |
LSB Industries, Inc. * | 253 | 3,960 |
Materion Corp. | 153 | 4,613 |
Minerals Technologies, Inc. | 278 | 16,385 |
Neenah Paper, Inc. | 178 | 11,999 |
Olin Corp. | 1,252 | 24,013 |
Olympic Steel, Inc. | 76 | 727 |
OMNOVA Solutions, Inc. * | 151 | 1,084 |
P.H. Glatfelter Co. | 505 | 9,797 |
PolyOne Corp. | 558 | 18,660 |
Quaker Chemical Corp. | 100 | 7,938 |
Rayonier Advanced Materials, Inc. | 90 | 830 |
Real Industry, Inc. * | 110 | 1,045 |
Rentech, Inc. * | 265 | 1,550 |
Ryerson Holding Corp. * | 157 | 919 |
Schnitzer Steel Industries, Inc., Class A | 366 | 6,171 |
Schweitzer-Mauduit International, Inc. | 284 | 11,025 |
Sensient Technologies Corp. | 23,964 | 1,564,130 |
Stepan Co. | 43 | 2,276 |
Stillwater Mining Co. * | 807 | 7,537 |
Summit Materials, Inc., Class A * | 177 | 3,728 |
SunCoke Energy, Inc. | 828 | 4,107 |
TimkenSteel Corp. | 105 | 1,117 |
Trecora Resources * | 384 | 5,468 |
Tredegar Corp. | 361 | 5,148 |
Trinseo S.A. * | 52 | 1,687 |
Tronox Ltd., Class A | 768 | 4,769 |
United States Lime & Minerals, Inc. | 34 | 1,661 |
Security | Number of Shares | Value ($) |
US Concrete, Inc. * | 109 | 6,045 |
Valhi, Inc. | 221 | 546 |
Wausau Paper Corp. | 373 | 3,808 |
Worthington Industries, Inc. | 417 | 12,802 |
4,472,043 | ||
Media 1.2% | ||
AMC Entertainment Holdings, Inc., Class A | 133 | 3,640 |
Carmike Cinemas, Inc. * | 244 | 6,249 |
Central European Media Enterprises Ltd., Class A * | 775 | 1,674 |
Crown Media Holdings, Inc., Class A * | 678 | 3,926 |
Cumulus Media, Inc., Class A * | 1,288 | 591 |
Daily Journal Corp. * | 23 | 4,708 |
DreamWorks Animation SKG, Inc., Class A * | 362 | 7,327 |
Entercom Communications Corp., Class A * | 610 | 6,734 |
Eros International plc * | 135 | 1,508 |
Global Eagle Entertainment, Inc. * | 224 | 2,984 |
Gray Television, Inc. * | 326 | 5,180 |
Hemisphere Media Group, Inc. * | 122 | 1,651 |
IMAX Corp. * | 554 | 21,268 |
Journal Media Group, Inc. | 265 | 3,243 |
Loral Space & Communications, Inc. * | 92 | 4,113 |
Martha Stewart Living Omnimedia, Inc., Class A * | 235 | 1,419 |
MDC Partners, Inc., Class A | 381 | 7,917 |
Media General, Inc. * | 608 | 9,035 |
Meredith Corp. | 257 | 12,084 |
National CineMedia, Inc. | 31,049 | 440,896 |
New Media Investment Group, Inc. | 83,210 | 1,339,681 |
Nexstar Broadcasting Group, Inc., Class A | 314 | 16,714 |
Reading International, Inc., Class A * | 278 | 4,309 |
Rentrak Corp. * | 82 | 4,525 |
Saga Communications, Inc., Class A | 146 | 6,281 |
Scholastic Corp. | 266 | 10,871 |
SFX Entertainment, Inc. * | 382 | 355 |
Sinclair Broadcast Group, Inc., Class A | 666 | 19,987 |
Sizmek, Inc. * | 490 | 2,906 |
The E.W. Scripps Co., Class A | 662 | 14,604 |
The New York Times Co., Class A | 1,064 | 14,130 |
Time, Inc. | 786 | 14,604 |
Townsquare Media, Inc., Class A * | 107 | 1,173 |
Tribune Publishing Co. | 88 | 831 |
1,997,118 | ||
Pharmaceuticals, Biotechnology & Life Sciences 5.5% | ||
Abeona Therapeutics, Inc. * | 227 | 897 |
ACADIA Pharmaceuticals, Inc. * | 664 | 23,120 |
Accelerate Diagnostics, Inc. * | 200 | 3,354 |
Acceleron Pharma, Inc. * | 145 | 4,525 |
Achillion Pharmaceuticals, Inc. * | 1,533 | 11,988 |
Acorda Therapeutics, Inc. * | 448 | 16,146 |
Adamas Pharmaceuticals, Inc. * | 54 | 797 |
Aduro Biotech, Inc. * | 40 | 1,080 |
Advaxis, Inc. * | 71 | 787 |
Aegerion Pharmaceuticals, Inc. * | 137 | 2,011 |
Security | Number of Shares | Value ($) |
Aerie Pharmaceuticals, Inc. * | 85 | 1,939 |
Affimed N.V. * | 109 | 691 |
Affymetrix, Inc. * | 553 | 5,088 |
Agenus, Inc. * | 449 | 2,047 |
Agile Therapeutics, Inc. * | 161 | 1,278 |
Akebia Therapeutics, Inc. * | 66 | 589 |
Akorn, Inc. * | 6,330 | 169,264 |
Albany Molecular Research, Inc. * | 42,582 | 768,179 |
Alder Biopharmaceuticals, Inc. * | 97 | 3,102 |
Alimera Sciences, Inc. * | 304 | 915 |
AMAG Pharmaceuticals, Inc. * | 279 | 11,160 |
Amicus Therapeutics, Inc. * | 1,196 | 8,970 |
Amphastar Pharmaceuticals, Inc. * | 80 | 947 |
Anacor Pharmaceuticals, Inc. * | 306 | 34,397 |
ANI Pharmaceuticals, Inc. * | 59 | 2,469 |
Anthera Pharmaceuticals, Inc. * | 171 | 987 |
Applied Genetic Technologies Corp. * | 57 | 684 |
Aratana Therapeutics, Inc. * | 208 | 1,454 |
Ardelyx, Inc. * | 91 | 1,491 |
Arena Pharmaceuticals, Inc. * | 2,410 | 4,555 |
ARIAD Pharmaceuticals, Inc. * | 1,930 | 13,201 |
Array BioPharma, Inc. * | 968 | 4,956 |
Arrowhead Research Corp. * | 1,262 | 6,499 |
Assembly Biosciences, Inc. * | 87 | 835 |
Asterias Biotherapeutics, Inc. * | 325 | 1,489 |
Atara Biotherapeutics, Inc. * | 169 | 4,355 |
aTyr Pharma, Inc. * | 66 | 822 |
Avalanche Biotechnologies, Inc. * | 87 | 733 |
Bellicum Pharmaceuticals, Inc. * | 65 | 813 |
BioCryst Pharmaceuticals, Inc. * | 486 | 4,369 |
BioDelivery Sciences International, Inc. * | 473 | 2,545 |
BioSpecifics Technologies Corp. * | 132 | 7,710 |
BioTime, Inc. * | 43 | 162 |
Blueprint Medicines Corp. * | 52 | 1,045 |
Calithera Biosciences, Inc. * | 175 | 1,495 |
Cambrex Corp. * | 216 | 9,930 |
Cara Therapeutics, Inc. * | 341 | 4,832 |
Carbylan Therapeutics, Inc. * | 203 | 731 |
Catalent, Inc. * | 558 | 14,832 |
Catalyst Pharmaceuticals, Inc. * | 350 | 1,106 |
Celldex Therapeutics, Inc. * | 944 | 11,385 |
Cellular Biomedicine Group, Inc. * | 40 | 840 |
Cempra, Inc. * | 186 | 4,129 |
Cepheid * | 620 | 20,708 |
Charles River Laboratories International, Inc. * | 18,900 | 1,233,036 |
ChemoCentryx, Inc. * | 35 | 245 |
Chimerix, Inc. * | 283 | 11,088 |
Cidara Therapeutics, Inc. * | 101 | 1,376 |
Clovis Oncology, Inc. * | 235 | 23,479 |
Coherus Biosciences, Inc. * | 53 | 1,476 |
Collegium Pharmaceutical, Inc. * | 77 | 1,414 |
Concert Pharmaceuticals, Inc. * | 89 | 2,021 |
Corcept Therapeutics, Inc. * | 907 | 3,347 |
Corium International, Inc. * | 104 | 722 |
CorMedix, Inc. * | 298 | 757 |
CTI BioPharma, Corp. * | 1,000 | 1,330 |
Curis, Inc. * | 479 | 977 |
Cytokinetics, Inc. * | 29 | 250 |
CytRx Corp. * | 506 | 1,407 |
Depomed, Inc. * | 571 | 9,993 |
Security | Number of Shares | Value ($) |
Dermira, Inc. * | 88 | 2,375 |
Dicerna Pharmaceuticals, Inc. * | 3 | 30 |
Durect Corp. * | 581 | 1,185 |
Dyax Corp. * | 1,136 | 31,274 |
Dynavax Technologies Corp. * | 416 | 9,447 |
Eagle Pharmaceuticals, Inc. * | 5,440 | 346,582 |
Emergent Biosolutions, Inc. * | 205 | 6,591 |
Enanta Pharmaceuticals, Inc. * | 193 | 5,421 |
Endocyte, Inc. * | 91 | 468 |
Epizyme, Inc. * | 125 | 1,636 |
Esperion Therapeutics, Inc. * | 54 | 1,296 |
Exact Sciences Corp. * | 739 | 6,156 |
Exelixis, Inc. * | 2,297 | 13,828 |
Fibrocell Science, Inc. * | 127 | 485 |
FibroGen, Inc. * | 207 | 4,825 |
Five Prime Therapeutics, Inc. * | 157 | 5,048 |
Flex Pharma, Inc. * | 73 | 827 |
Flexion Therapeutics, Inc. * | 69 | 1,137 |
Fluidigm Corp. * | 308 | 3,329 |
Foamix Pharmaceuticals Ltd. * | 123 | 877 |
Foundation Medicine, Inc. * | 105 | 2,354 |
Galena Biopharma, Inc. * | 1,426 | 2,396 |
Genocea Biosciences, Inc. * | 112 | 536 |
Genomic Health, Inc. * | 321 | 6,715 |
Geron Corp. * | 1,639 | 5,687 |
Halozyme Therapeutics, Inc. * | 1,029 | 16,104 |
Harvard Bioscience, Inc. * | 268 | 788 |
Heron Therapeutics, Inc. * | 194 | 5,319 |
Heska Corp. * | 49 | 1,507 |
Horizon Pharma plc * | 50,803 | 798,623 |
ICON plc * | 11,560 | 738,337 |
Idera Pharmaceuticals, Inc. * | 589 | 1,626 |
Ignyta, Inc. * | 87 | 891 |
Immune Design, Corp. * | 60 | 780 |
ImmunoGen, Inc. * | 886 | 10,366 |
Immunomedics, Inc. * | 1,236 | 3,696 |
Impax Laboratories, Inc. * | 640 | 22,163 |
INC Research Holdings, Inc., Class A * | 36 | 1,502 |
Infinity Pharmaceuticals, Inc. * | 287 | 2,970 |
Inovio Pharmaceuticals, Inc. * | 257 | 1,627 |
Insmed, Inc. * | 332 | 6,587 |
Insys Therapeutics, Inc. * | 277 | 7,136 |
Intersect ENT, Inc. * | 50 | 958 |
Intra-Cellular Therapies, Inc. * | 139 | 6,651 |
Invitae Corp. * | 96 | 732 |
Ironwood Pharmaceuticals, Inc. * | 1,155 | 13,121 |
Karyopharm Therapeutics, Inc. * | 111 | 1,482 |
Keryx Biopharmaceuticals, Inc. * | 1,269 | 5,685 |
Kite Pharma, Inc. * | 154 | 10,480 |
La Jolla Pharmaceutical Co. * | 64 | 1,599 |
Lannett Co., Inc. * | 294 | 13,162 |
Lexicon Pharmaceuticals, Inc. * | 586 | 5,573 |
Ligand Pharmaceuticals, Inc. * | 171 | 15,450 |
Lion Biotechnologies, Inc. * | 150 | 971 |
Loxo Oncology, Inc. * | 107 | 2,502 |
Luminex Corp. * | 81 | 1,474 |
MacroGenics, Inc. * | 170 | 5,282 |
MannKind Corp. * | 2,185 | 7,232 |
Medgenics, Inc. * | 226 | 1,480 |
Merrimack Pharmaceuticals, Inc. * | 1,255 | 11,722 |
MiMedx Group, Inc. * | 749 | 5,453 |
Mirati Therapeutics, Inc. * | 77 | 2,724 |
Security | Number of Shares | Value ($) |
Momenta Pharmaceuticals, Inc. * | 637 | 10,453 |
Myriad Genetics, Inc. * | 530 | 21,396 |
NanoString Technologies, Inc. * | 94 | 1,364 |
Navidea Biopharmaceuticals, Inc. * | 766 | 1,547 |
Nektar Therapeutics * | 869 | 10,315 |
NeoGenomics, Inc. * | 263 | 1,854 |
Neurocrine Biosciences, Inc. * | 737 | 36,179 |
NewLink Genetics Corp. * | 187 | 7,156 |
Northwest Biotherapeutics, Inc. * | 454 | 2,216 |
Novavax, Inc. * | 2,608 | 17,604 |
Ocata Therapeutics, Inc. * | 270 | 1,188 |
Ocular Therapeutix, Inc. * | 66 | 570 |
Omeros Corp. * | 49,915 | 625,435 |
OncoMed Pharmaceuticals, Inc. * | 102 | 2,041 |
Oncothyreon, Inc. * | 612 | 1,812 |
Ophthotech Corp. * | 169 | 8,438 |
Orexigen Therapeutics, Inc. * | 1,156 | 3,514 |
Organovo Holdings, Inc. * | 547 | 1,646 |
Osiris Therapeutics, Inc. | 165 | 2,810 |
Otonomy, Inc. * | 64 | 1,385 |
OvaScience, Inc. * | 118 | 1,530 |
Pacific Biosciences of California, Inc. * | 418 | 2,968 |
Pacira Pharmaceuticals, Inc. * | 13,816 | 690,109 |
Paratek Pharmaceuticals, Inc. * | 55 | 955 |
PAREXEL International Corp. * | 489 | 30,866 |
PDL BioPharma, Inc. | 437 | 2,001 |
Peregrine Pharmaceuticals, Inc. * | 2,024 | 2,267 |
Pernix Therapeutics Holdings, Inc. * | 319 | 896 |
Pfenex, Inc. * | 76 | 1,374 |
Phibro Animal Health Corp., Class A | 37,905 | 1,264,511 |
Portola Pharmaceuticals, Inc. * | 242 | 11,522 |
POZEN, Inc. * | 383 | 2,241 |
PRA Health Sciences, Inc. * | 11,785 | 412,946 |
Prestige Brands Holdings, Inc. * | 496 | 24,309 |
Progenics Pharmaceuticals, Inc. * | 448 | 3,288 |
Proteon Therapeutics, Inc. * | 89 | 1,219 |
Prothena Corp. plc * | 221 | 11,384 |
PTC Therapeutics, Inc. * | 208 | 5,173 |
Radius Health, Inc. * | 190 | 12,204 |
Raptor Pharmaceutical Corp. * | 660 | 3,597 |
Regulus Therapeutics, Inc. * | 229 | 1,523 |
Relypsa, Inc. * | 192 | 3,070 |
Repligen Corp. * | 149 | 4,953 |
Retrophin, Inc. * | 196 | 3,749 |
Revance Therapeutics, Inc. * | 57 | 2,233 |
Rigel Pharmaceuticals, Inc. * | 997 | 2,532 |
Sage Therapeutics, Inc. * | 91 | 4,571 |
Sagent Pharmaceuticals, Inc. * | 189 | 3,177 |
Sangamo BioSciences, Inc. * | 652 | 4,597 |
Sarepta Therapeutics, Inc. * | 303 | 7,290 |
SciClone Pharmaceuticals, Inc. * | 423 | 3,223 |
Sequenom, Inc. * | 797 | 1,395 |
Sorrento Therapeutics, Inc. * | 86 | 743 |
Spark Therapeutics, Inc. * | 22 | 1,186 |
Spectrum Pharmaceuticals, Inc. * | 126 | 656 |
Stemline Therapeutics, Inc. * | 66 | 587 |
Sucampo Pharmaceuticals, Inc., Class A * | 245 | 4,743 |
Supernus Pharmaceuticals, Inc. * | 164 | 2,706 |
Synergy Pharmaceuticals, Inc. * | 849 | 5,442 |
Synta Pharmaceuticals Corp. * | 932 | 624 |
T2 Biosystems, Inc. * | 43 | 478 |
Security | Number of Shares | Value ($) |
Teligent, Inc. * | 309 | 2,246 |
TESARO, Inc. * | 176 | 8,003 |
Tetraphase Pharmaceuticals, Inc. * | 253 | 2,285 |
TG Therapeutics, Inc. * | 269 | 3,328 |
The Medicines Co. * | 15,536 | 531,953 |
TherapeuticsMD, Inc. * | 992 | 5,823 |
Theravance Biopharma, Inc. * | 214 | 3,199 |
Theravance, Inc. | 857 | 7,524 |
Threshold Pharmaceuticals, Inc. * | 1,100 | 4,191 |
Tobira Therapeutics, Inc. * | 77 | 776 |
Tokai Pharmaceuticals, Inc. * | 98 | 1,083 |
Trevena, Inc. * | 221 | 2,126 |
Trovagene, Inc. * | 140 | 603 |
Ultragenyx Pharmaceutical, Inc. * | 250 | 24,838 |
Vanda Pharmaceuticals, Inc. * | 60,059 | 645,034 |
Verastem, Inc. * | 132 | 243 |
Versartis, Inc. * | 63 | 651 |
Vitae Pharmaceuticals, Inc. * | 32 | 380 |
Vital Therapies, Inc. * | 63 | 490 |
VIVUS, Inc. * | 1,152 | 1,452 |
XBiotech, Inc. * | 72 | 1,021 |
Xencor, Inc. * | 161 | 1,744 |
XenoPort, Inc. * | 356 | 2,175 |
XOMA Corp. * | 1,300 | 1,586 |
Zafgen, Inc. * | 97 | 934 |
ZIOPHARM Oncology, Inc. * | 1,146 | 13,053 |
Zogenix, Inc. * | 73 | 861 |
ZS Pharma, Inc. * | 65 | 4,226 |
9,267,200 | ||
Real Estate 3.8% | ||
Acadia Realty Trust | 571 | 18,780 |
Agree Realty Corp. | 205 | 6,638 |
Alexander & Baldwin, Inc. | 485 | 18,304 |
Alexander's, Inc. | 13 | 5,134 |
Altisource Asset Management Corp. * | 14 | 344 |
Altisource Portfolio Solutions S.A. * | 138 | 3,700 |
Altisource Residential Corp. | 391 | 5,626 |
American Assets Trust, Inc. | 397 | 16,738 |
American Capital Mortgage Investment Corp. | 239 | 3,468 |
American Residential Properties, Inc. | 76 | 1,259 |
Anworth Mortgage Asset Corp. | 1,734 | 8,271 |
Apollo Commercial Real Estate Finance, Inc. | 220 | 3,654 |
Apollo Residential Mortgage, Inc. | 118 | 1,519 |
ARMOUR Residential REIT, Inc. | 532 | 10,917 |
Ashford Hospitality Prime, Inc. | 39 | 573 |
Ashford Hospitality Trust, Inc. | 971 | 6,680 |
AV Homes, Inc. * | 49 | 649 |
Capstead Mortgage Corp. | 362 | 3,493 |
CareTrust REIT, Inc. | 222 | 2,513 |
CatchMark Timber Trust, Inc., Class A | 121 | 1,325 |
Cedar Realty Trust, Inc. | 817 | 5,711 |
Chambers Street Properties | 2,296 | 16,256 |
Chatham Lodging Trust | 257 | 5,883 |
Chesapeake Lodging Trust | 553 | 15,230 |
Colony Capital, Inc., Class A | 912 | 18,550 |
Consolidated-Tomoka Land Co. | 43 | 2,204 |
CoreSite Realty Corp. | 184 | 10,111 |
Cousins Properties, Inc. | 1,917 | 19,247 |
Security | Number of Shares | Value ($) |
CubeSmart | 1,092 | 30,379 |
CyrusOne, Inc. | 520 | 18,346 |
CYS Investments, Inc. | 1,885 | 14,552 |
DCT Industrial Trust, Inc. | 762 | 28,285 |
DiamondRock Hospitality Co. | 67,636 | 789,988 |
DuPont Fabros Technology, Inc. | 632 | 20,281 |
Dynex Capital, Inc. | 185 | 1,227 |
Easterly Government Properties, Inc. | 91 | 1,591 |
EastGroup Properties, Inc. | 304 | 17,073 |
Education Realty Trust, Inc. | 28,800 | 1,034,208 |
EPR Properties | 353 | 20,054 |
Equity One, Inc. | 405 | 10,765 |
FelCor Lodging Trust, Inc. | 1,360 | 10,948 |
First Industrial Realty Trust, Inc. | 890 | 19,295 |
First Potomac Realty Trust | 864 | 10,187 |
Forestar Group, Inc. * | 464 | 6,566 |
Franklin Street Properties Corp. | 580 | 6,044 |
FRP Holdings, Inc. * | 34 | 1,122 |
Government Properties Income Trust | 748 | 12,177 |
Gramercy Property Trust, Inc. | 249 | 5,647 |
Great Ajax Corp. | 104 | 1,345 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 202 | 3,638 |
Hatteras Financial Corp. | 621 | 8,887 |
Healthcare Realty Trust, Inc. | 734 | 19,348 |
Hersha Hospitality Trust | 437 | 10,492 |
Highwoods Properties, Inc. | 745 | 32,370 |
Hudson Pacific Properties, Inc. | 685 | 19,570 |
Independence Realty Trust, Inc. | 198 | 1,552 |
InfraREIT, Inc. | 91 | 2,173 |
Inland Real Estate Corp. | 668 | 5,912 |
Invesco Mortgage Capital, Inc. | 1,302 | 15,689 |
Investors Real Estate Trust | 593 | 4,815 |
iStar, Inc. * | 973 | 12,591 |
Kennedy-Wilson Holdings, Inc. | 717 | 17,581 |
Kite Realty Group Trust | 545 | 14,393 |
Ladder Capital Corp. | 124 | 1,768 |
LaSalle Hotel Properties | 12,411 | 365,008 |
Lexington Realty Trust | 1,679 | 14,842 |
LTC Properties, Inc. | 147 | 6,299 |
Mack-Cali Realty Corp. | 692 | 15,058 |
Marcus & Millichap, Inc. * | 31 | 1,351 |
Medical Properties Trust, Inc. | 1,616 | 18,261 |
Monmouth Real Estate Investment Corp. | 752 | 7,828 |
Monogram Residential Trust, Inc. | 862 | 8,499 |
National Health Investors, Inc. | 318 | 18,679 |
National Storage Affiliates Trust | 3 | 45 |
New Residential Investment Corp. | 1,497 | 18,159 |
New Senior Investment Group, Inc. | 132,930 | 1,331,959 |
New York Mortgage Trust, Inc. | 794 | 4,510 |
New York REIT, Inc. | 1,141 | 13,007 |
NexPoint Residential Trust, Inc. | 100 | 1,318 |
One Liberty Properties, Inc. | 123 | 2,898 |
Parkway Properties, Inc. | 754 | 12,614 |
Pebblebrook Hotel Trust | 628 | 21,465 |
Pennsylvania Real Estate Investment Trust | 438 | 9,846 |
PennyMac Mortgage Investment Trust | 319 | 4,664 |
Physicians Realty Trust | 503 | 8,038 |
Potlatch Corp. | 316 | 9,872 |
Security | Number of Shares | Value ($) |
Preferred Apartment Communities, Inc., Class A | 7 | 77 |
PS Business Parks, Inc. | 150 | 12,868 |
QTS Realty Trust, Inc., Class A | 97 | 4,172 |
RAIT Financial Trust | 1,290 | 6,256 |
Ramco-Gershenson Properties Trust | 919 | 15,439 |
RE/MAX Holdings, Inc., Class A | 41 | 1,544 |
Redwood Trust, Inc. | 597 | 7,928 |
Resource Capital Corp. | 365 | 4,687 |
Retail Opportunity Investments Corp. | 1,003 | 18,184 |
Rexford Industrial Realty, Inc. | 761 | 11,529 |
RLJ Lodging Trust | 1,055 | 26,470 |
Rouse Properties, Inc. | 488 | 8,584 |
Ryman Hospitality Properties, Inc. | 360 | 18,936 |
Sabra Health Care REIT, Inc. | 485 | 11,000 |
Saul Centers, Inc. | 143 | 8,018 |
Select Income REIT | 303 | 6,121 |
Silver Bay Realty Trust Corp. | 376 | 6,091 |
Sovran Self Storage, Inc. | 326 | 32,558 |
STAG Industrial, Inc. | 506 | 10,383 |
Starwood Waypoint Residential Trust | 276 | 6,790 |
STORE Capital Corp. | 251 | 5,690 |
Strategic Hotels & Resorts, Inc. * | 2,115 | 29,821 |
Summit Hotel Properties, Inc. | 127,576 | 1,668,694 |
Sun Communities, Inc. | 430 | 28,819 |
Sunstone Hotel Investors, Inc. | 1,920 | 27,763 |
Tejon Ranch Co. * | 287 | 6,466 |
Terreno Realty Corp. | 337 | 7,542 |
The Geo Group, Inc. | 710 | 22,912 |
The St. Joe Co. * | 471 | 9,335 |
United Development Funding IV | 84 | 1,445 |
Universal Health Realty Income Trust | 106 | 5,267 |
Urban Edge Properties | 502 | 11,917 |
Urstadt Biddle Properties, Inc., Class A | 224 | 4,502 |
Washington Real Estate Investment Trust | 351 | 9,481 |
Western Asset Mortgage Capital Corp. | 312 | 3,563 |
Xenia Hotels & Resorts, Inc. | 764 | 13,248 |
6,411,956 | ||
Retailing 4.4% | ||
Abercrombie & Fitch Co., Class A | 420 | 8,900 |
America's Car-Mart, Inc. * | 38 | 1,301 |
American Eagle Outfitters, Inc. | 1,386 | 21,178 |
Asbury Automotive Group, Inc. * | 265 | 20,988 |
Ascena Retail Group, Inc. * | 96,698 | 1,288,017 |
Barnes & Noble Education, Inc. * | 233 | 3,437 |
Barnes & Noble, Inc. | 369 | 4,793 |
bebe stores, Inc. | 766 | 850 |
Big 5 Sporting Goods Corp. | 100 | 915 |
Big Lots, Inc. | 447 | 20,607 |
Boot Barn Holdings, Inc. * | 47 | 705 |
Build-A-Bear Workshop, Inc. * | 61 | 949 |
Burlington Stores, Inc. * | 21,474 | 1,032,470 |
Caleres, Inc. | 203 | 6,204 |
Chico's FAS, Inc. | 1,048 | 14,483 |
Christopher & Banks Corp. * | 284 | 415 |
Citi Trends, Inc. | 57 | 1,515 |
Conn's, Inc. * | 257 | 4,875 |
Core-Mark Holding Co., Inc. | 210 | 17,071 |
Destination XL Group, Inc. * | 286 | 1,670 |
Security | Number of Shares | Value ($) |
Etsy, Inc. * | 101 | 1,101 |
EVINE Live, Inc. * | 338 | 872 |
Express, Inc. * | 532 | 10,268 |
Fenix Parts, Inc. * | 66 | 519 |
Five Below, Inc. * | 454 | 15,590 |
Francesca's Holdings Corp. * | 230 | 3,268 |
Fred's, Inc., Class A | 80,470 | 1,112,900 |
FTD Cos., Inc. * | 208 | 5,891 |
Genesco, Inc. * | 257 | 16,101 |
Group 1 Automotive, Inc. | 214 | 18,607 |
Guess?, Inc. | 256 | 5,389 |
Haverty Furniture Cos., Inc. | 81 | 1,896 |
Hibbett Sports, Inc. * | 135 | 4,612 |
HSN, Inc. | 301 | 18,617 |
Kirkland's, Inc. | 300 | 6,897 |
Lands' End, Inc. * | 107 | 2,641 |
Liberty TripAdvisor Holdings, Inc., Class A * | 449 | 14,004 |
Lithia Motors, Inc., Class A | 219 | 25,708 |
Lumber Liquidators Holdings, Inc. * | 132 | 1,824 |
MarineMax, Inc. * | 149 | 2,354 |
Mattress Firm Holding Corp. * | 92 | 3,916 |
Monro Muffler Brake, Inc. | 307 | 22,770 |
Nutrisystem, Inc. | 331 | 7,656 |
Outerwall, Inc. | 185 | 11,100 |
Overstock.com, Inc. * | 66 | 1,034 |
Party City Holdco, Inc. * | 69 | 1,092 |
Pier 1 Imports, Inc. | 796 | 5,906 |
Pool Corp. | 384 | 31,311 |
Rent-A-Center, Inc. | 355 | 6,529 |
Restoration Hardware Holdings, Inc. * | 9,123 | 940,490 |
Select Comfort Corp. * | 428 | 9,074 |
Shoe Carnival, Inc. | 70 | 1,573 |
Shutterfly, Inc. * | 400 | 16,684 |
Sonic Automotive, Inc., Class A | 451 | 11,248 |
Sportsman's Warehouse Holdings, Inc. * | 124 | 1,334 |
Stage Stores, Inc. | 60,960 | 593,141 |
Stein Mart, Inc. | 490 | 4,341 |
Systemax, Inc. * | 93 | 862 |
The Buckle, Inc. | 280 | 9,923 |
The Cato Corp., Class A | 30,766 | 1,161,724 |
The Children's Place, Inc. | 150 | 8,051 |
The Container Store Group, Inc. * | 102 | 1,164 |
The Finish Line, Inc., Class A | 505 | 9,408 |
The Men's Wearhouse, Inc. | 20,236 | 809,035 |
The Pep Boys - Manny, Moe & Jack * | 121 | 1,820 |
Tile Shop Holdings, Inc. * | 190 | 2,757 |
Tilly's, Inc., Class A * | 39 | 284 |
Travelport Worldwide Ltd. | 710 | 9,621 |
Tuesday Morning Corp. * | 672 | 3,636 |
Vitamin Shoppe, Inc. * | 264 | 7,574 |
VOXX International Corp. * | 301 | 1,553 |
Wayfair, Inc., Class A * | 51 | 2,156 |
West Marine, Inc. * | 151 | 1,537 |
Weyco Group, Inc. | 68 | 1,931 |
Winmark Corp. | 26 | 2,620 |
Zumiez, Inc. * | 104 | 1,818 |
7,427,075 |
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 1.1% | ||
Advanced Energy Industries, Inc. * | 353 | 9,983 |
Advanced Micro Devices, Inc. * | 3,388 | 7,183 |
Alpha & Omega Semiconductor Ltd. * | 46 | 408 |
Ambarella, Inc. * | 241 | 11,915 |
Amkor Technology, Inc. * | 1,019 | 6,338 |
Applied Micro Circuits Corp. * | 476 | 3,084 |
Axcelis Technologies, Inc. * | 1,509 | 4,225 |
Brooks Automation, Inc. | 30 | 331 |
Cabot Microelectronics Corp. * | 230 | 9,699 |
Cascade Microtech, Inc. * | 91 | 1,394 |
Cavium, Inc. * | 403 | 28,593 |
CEVA, Inc. * | 286 | 6,684 |
Cirrus Logic, Inc. * | 600 | 18,498 |
Cypress Semiconductor Corp. * | 68,121 | 717,995 |
Diodes, Inc. * | 365 | 8,359 |
DSP Group, Inc. * | 82 | 828 |
Entegris, Inc. * | 995 | 12,766 |
Exar Corp. * | 382 | 2,174 |
Fairchild Semiconductor International, Inc. * | 1,027 | 17,130 |
FormFactor, Inc. * | 826 | 6,806 |
Inphi Corp. * | 306 | 9,110 |
Integrated Device Technology, Inc. * | 1,077 | 27,463 |
Integrated Silicon Solution, Inc. | 493 | 11,083 |
Intersil Corp., Class A | 930 | 12,602 |
Kopin Corp. * | 1,298 | 3,466 |
Lattice Semiconductor Corp. * | 821 | 3,760 |
M/A-COM Technology Solutions Holdings, Inc. * | 55 | 1,856 |
Mattson Technology, Inc. * | 426 | 997 |
MaxLinear, Inc., Class A * | 452 | 5,876 |
Microsemi Corp. * | 19,910 | 716,959 |
MKS Instruments, Inc. | 405 | 14,272 |
Monolithic Power Systems, Inc. | 349 | 21,785 |
Nanometrics, Inc. * | 425 | 6,494 |
NeoPhotonics Corp. * | 154 | 1,274 |
NVE Corp. | 36 | 2,134 |
OmniVision Technologies, Inc. * | 483 | 13,944 |
PDF Solutions, Inc. * | 270 | 2,851 |
Pericom Semiconductor Corp. | 101 | 1,762 |
Photronics, Inc. * | 432 | 4,143 |
PMC-Sierra, Inc. * | 1,182 | 14,089 |
Power Integrations, Inc. | 321 | 16,246 |
Rambus, Inc. * | 914 | 9,432 |
Semtech Corp. * | 581 | 10,168 |
Sigma Designs, Inc. * | 117 | 1,031 |
Silicon Laboratories, Inc. * | 261 | 13,042 |
Synaptics, Inc. * | 232 | 19,741 |
Tessera Technologies, Inc. | 531 | 18,569 |
Ultra Clean Holdings, Inc. * | 244 | 1,191 |
Ultratech, Inc. * | 215 | 3,360 |
Veeco Instruments, Inc. * | 284 | 5,118 |
Xcerra Corp. * | 528 | 3,664 |
1,851,875 | ||
Software & Services 11.0% | ||
6D Global Technologies, Inc. *(d) | 209 | 456 |
A10 Networks, Inc. * | 325 | 2,334 |
ACI Worldwide, Inc. * | 816 | 19,543 |
Security | Number of Shares | Value ($) |
Actua Corp. * | 91,188 | 1,262,954 |
Acxiom Corp. * | 571 | 12,631 |
Amber Road, Inc. * | 204 | 820 |
American Software, Inc., Class A | 406 | 4,153 |
Angie's List, Inc. * | 196 | 1,515 |
Apigee Corp. * | 126 | 1,216 |
Aspen Technology, Inc. * | 598 | 24,751 |
AVG Technologies N.V. * | 261 | 6,186 |
Bankrate, Inc. * | 376 | 4,463 |
Barracuda Networks, Inc. * | 64 | 1,228 |
Bazaarvoice, Inc. * | 700 | 3,101 |
Benefitfocus, Inc. * | 40 | 1,278 |
Blackbaud, Inc. | 445 | 27,897 |
Blackhawk Network Holdings, Inc. * | 298 | 12,689 |
Blucora, Inc. * | 369 | 3,616 |
Bottomline Technologies de, Inc. * | 508 | 14,061 |
Box, Inc., Class A * | 78 | 973 |
Brightcove, Inc. * | 325 | 2,015 |
BroadSoft, Inc. * | 281 | 8,984 |
CACI International, Inc., Class A * | 246 | 23,872 |
Callidus Software, Inc. * | 49,312 | 856,549 |
Cardtronics, Inc. * | 36,145 | 1,247,002 |
Care.com, Inc. * | 115 | 691 |
Cass Information Systems, Inc. | 37 | 1,930 |
ChannelAdvisor Corp. * | 195 | 1,700 |
Ciber, Inc. * | 1,217 | 4,345 |
Cimpress N.V. * | 301 | 23,749 |
Code Rebel Corp. * | 46 | 229 |
CommVault Systems, Inc. * | 340 | 13,777 |
comScore, Inc. * | 333 | 14,246 |
Constant Contact, Inc. * | 133 | 3,471 |
Convergys Corp. | 611 | 15,684 |
Cornerstone OnDemand, Inc. * | 398 | 12,537 |
Criteo S.A. ADR * | 43,030 | 1,637,722 |
CSG Systems International, Inc. | 346 | 11,598 |
Cvent, Inc. * | 139 | 4,394 |
Datalink Corp. * | 156 | 1,139 |
Demandware, Inc. * | 293 | 16,613 |
Digimarc Corp. * | 61 | 1,370 |
Digital Turbine, Inc. * | 435 | 722 |
EarthLink Holdings Corp. | 768 | 6,566 |
Ebix, Inc. | 202 | 5,601 |
Ellie Mae, Inc. * | 167 | 12,188 |
Endurance International Group Holdings, Inc. * | 42,613 | 568,031 |
Envestnet, Inc. * | 355 | 10,600 |
EPAM Systems, Inc. * | 315 | 24,365 |
Epiq Systems, Inc. | 423 | 5,837 |
Euronet Worldwide, Inc. * | 460 | 36,910 |
Everi Holdings, Inc. * | 597 | 2,794 |
EVERTEC, Inc. | 315 | 5,746 |
Everyday Health, Inc. * | 96 | 902 |
ExlService Holdings, Inc. * | 380 | 16,819 |
Fair Isaac Corp. | 286 | 26,418 |
Five9, Inc. * | 264 | 1,143 |
Fleetmatics Group plc * | 14,482 | 806,068 |
Forrester Research, Inc. | 34,609 | 1,116,832 |
Gigamon, Inc. * | 21,026 | 551,512 |
Globant S.A. * | 47 | 1,625 |
Glu Mobile, Inc. * | 236 | 972 |
Gogo, Inc. * | 606 | 8,563 |
GrubHub, Inc. * | 700 | 16,786 |
Security | Number of Shares | Value ($) |
GTT Communications, Inc. * | 179 | 3,351 |
Guidance Software, Inc. * | 162 | 914 |
Guidewire Software, Inc. * | 458 | 26,669 |
Heartland Payment Systems, Inc. | 349 | 25,826 |
Hortonworks, Inc. * | 54 | 1,051 |
HubSpot, Inc. * | 68 | 3,528 |
Imperva, Inc. * | 182 | 12,853 |
Infoblox, Inc. * | 409 | 6,671 |
Interactive Intelligence Group, Inc. * | 204 | 6,597 |
Internap Corp. * | 720 | 4,867 |
Intralinks Holdings, Inc. * | 665 | 5,819 |
j2 Global, Inc. | 6,999 | 542,772 |
Jive Software, Inc. * | 257 | 1,252 |
Limelight Networks, Inc. * | 612 | 1,248 |
Liquidity Services, Inc. * | 38 | 311 |
LivePerson, Inc. * | 533 | 4,157 |
LogMeIn, Inc. * | 16,596 | 1,117,907 |
Luxoft Holding, Inc. * | 73 | 4,865 |
Manhattan Associates, Inc. * | 619 | 45,094 |
ManTech International Corp., Class A | 49 | 1,416 |
Marchex, Inc., Class B | 207 | 894 |
Marin Software, Inc. * | 241 | 863 |
Marketo, Inc. * | 110 | 3,237 |
MAXIMUS, Inc. | 15,918 | 1,085,608 |
MaxPoint Interactive, Inc. * | 171 | 824 |
Mentor Graphics Corp. | 561 | 15,259 |
MicroStrategy, Inc., Class A * | 91 | 15,658 |
MobileIron, Inc. * | 159 | 614 |
Model N, Inc. * | 157 | 1,586 |
ModusLink Global Solutions, Inc. * | 891 | 2,575 |
MoneyGram International, Inc. * | 348 | 3,518 |
Monotype Imaging Holdings, Inc. | 438 | 11,975 |
Monster Worldwide, Inc. * | 103,775 | 650,669 |
NeuStar, Inc., Class A * | 257 | 6,988 |
New Relic, Inc. * | 43 | 1,705 |
NIC, Inc. | 599 | 11,363 |
OPOWER, Inc. * | 124 | 1,197 |
Park City Group, Inc. * | 110 | 1,282 |
Paycom Software, Inc. * | 128 | 4,865 |
Paylocity Holding Corp. * | 41 | 1,376 |
Pegasystems, Inc. | 464 | 12,941 |
Perficient, Inc. * | 203 | 3,394 |
PFSweb, Inc. * | 2 | 32 |
Progress Software Corp. * | 195 | 4,735 |
Proofpoint, Inc. * | 13,430 | 946,009 |
PROS Holdings, Inc. * | 257 | 6,173 |
Q2 Holdings, Inc. * | 116 | 2,859 |
QAD, Inc., Class A | 148 | 3,780 |
Qlik Technologies, Inc. * | 623 | 19,544 |
Qualys, Inc. * | 152 | 5,369 |
QuinStreet, Inc. * | 551 | 3,058 |
Quotient Technology, Inc. * | 219 | 1,213 |
RealNetworks, Inc. * | 144 | 559 |
RealPage, Inc. * | 505 | 8,535 |
Reis, Inc. | 91 | 2,215 |
RetailMeNot, Inc. * | 153 | 1,345 |
RingCentral, Inc., Class A * | 20,586 | 380,841 |
Rovi Corp. * | 14,170 | 129,656 |
Sapiens International Corp. N.V. | 293 | 3,460 |
Science Applications International Corp. | 260 | 11,924 |
SciQuest, Inc. * | 370 | 4,388 |
Security | Number of Shares | Value ($) |
ServiceSource International, Inc. * | 546 | 2,331 |
Shutterstock, Inc. * | 15,737 | 448,190 |
Silver Spring Networks, Inc. * | 299 | 3,920 |
SPS Commerce, Inc. * | 166 | 11,922 |
Stamps.com, Inc. * | 166 | 12,551 |
Sykes Enterprises, Inc. * | 209 | 6,061 |
Synchronoss Technologies, Inc. * | 298 | 10,484 |
Syntel, Inc. * | 343 | 16,135 |
Take-Two Interactive Software, Inc. * | 624 | 20,717 |
Tangoe, Inc. * | 530 | 4,388 |
TeleCommunication Systems, Inc., Class A * | 440 | 1,800 |
TeleTech Holdings, Inc. | 251 | 7,304 |
Textura, Corp. * | 171 | 5,021 |
The Hackett Group, Inc. | 327 | 4,866 |
The Rubicon Project, Inc. * | 160,754 | 2,437,031 |
TiVo, Inc. * | 675 | 6,129 |
Travelzoo, Inc. * | 203 | 1,815 |
TrueCar, Inc. * | 240 | 1,474 |
TubeMogul, Inc. * | 94 | 1,123 |
Tyler Technologies, Inc. * | 270 | 45,997 |
Unisys Corp. * | 452 | 6,057 |
United Online, Inc. * | 94 | 1,098 |
Varonis Systems, Inc. * | 61 | 974 |
VASCO Data Security International, Inc. * | 211 | 4,011 |
VeriFone Systems, Inc. * | 32,680 | 984,975 |
Verint Systems, Inc. * | 402 | 19,127 |
VirnetX Holding Corp. * | 369 | 1,402 |
Virtusa Corp. * | 14,120 | 810,912 |
Web.com Group, Inc. * | 553 | 12,979 |
WebMD Health Corp. * | 213 | 8,661 |
Wix.com Ltd. * | 132 | 2,920 |
Workiva, Inc. * | 103 | 1,708 |
XO Group, Inc. * | 322 | 4,872 |
Xoom Corp. * | 445 | 11,098 |
Xura, Inc. * | 58 | 1,501 |
Yodlee, Inc. * | 96 | 1,611 |
Zendesk, Inc. * | 178 | 3,581 |
18,654,482 | ||
Technology Hardware & Equipment 4.3% | ||
ADTRAN, Inc. | 546 | 8,479 |
Aerohive Networks, Inc. * | 194 | 1,308 |
Agilysys, Inc. * | 60 | 682 |
Anixter International, Inc. * | 145 | 9,944 |
Applied Optoelectronics, Inc. * | 98 | 2,021 |
Avid Technology, Inc. * | 246 | 2,079 |
AVX Corp. | 106 | 1,431 |
Badger Meter, Inc. | 136 | 8,239 |
Bel Fuse, Inc., Class B | 120 | 2,164 |
Belden, Inc. | 32,817 | 2,101,273 |
Benchmark Electronics, Inc. * | 565 | 11,176 |
Black Box Corp. | 68 | 830 |
CalAmp Corp. * | 398 | 7,546 |
Checkpoint Systems, Inc. | 138 | 1,032 |
Ciena Corp. * | 1,030 | 24,864 |
Clearfield, Inc. * | 106 | 1,487 |
Coherent, Inc. * | 14,564 | 789,369 |
Comtech Telecommunications Corp. | 298 | 7,200 |
Cray, Inc. * | 290 | 8,593 |
Security | Number of Shares | Value ($) |
CTS Corp. | 35,734 | 649,644 |
Diebold, Inc. | 38,222 | 1,409,245 |
Digi International, Inc. * | 149 | 1,922 |
DTS, Inc. * | 286 | 8,511 |
Eastman Kodak Co. * | 83 | 1,039 |
Electro Rent Corp. | 245 | 2,543 |
Electronics for Imaging, Inc. * | 279 | 12,957 |
EMCORE Corp. * | 102 | 698 |
ePlus, Inc. * | 28 | 2,364 |
Extreme Networks, Inc. * | 1,418 | 5,091 |
Fabrinet * | 249 | 5,396 |
FARO Technologies, Inc. * | 117 | 3,953 |
FEI Co. | 276 | 19,924 |
Finisar Corp. * | 940 | 10,688 |
GSI Group, Inc. * | 370 | 4,999 |
Harmonic, Inc. * | 590 | 3,398 |
II-VI, Inc. * | 642 | 11,633 |
Imation Corp. * | 340 | 687 |
Immersion Corp. * | 119 | 1,545 |
Infinera Corp. * | 974 | 19,246 |
Insight Enterprises, Inc. * | 288 | 7,315 |
InterDigital, Inc. | 360 | 18,266 |
InvenSense, Inc. * | 447 | 5,328 |
Itron, Inc. * | 205 | 7,530 |
Ixia * | 309 | 4,453 |
Kimball Electronics, Inc. * | 123 | 1,401 |
Knowles Corp. * | 461 | 7,680 |
KVH Industries, Inc. * | 129 | 1,264 |
Littelfuse, Inc. | 217 | 21,685 |
Mercury Systems, Inc. * | 473 | 8,117 |
Mesa Laboratories, Inc. | 31 | 3,467 |
Methode Electronics, Inc. | 309 | 10,299 |
MTS Systems Corp. | 124 | 8,188 |
Multi-Fineline Electronix, Inc. * | 162 | 3,010 |
NETGEAR, Inc. * | 363 | 15,028 |
NetScout Systems, Inc. * | 696 | 24,966 |
Newport Corp. * | 511 | 7,721 |
Nimble Storage, Inc. * | 269 | 6,079 |
Novatel Wireless, Inc. * | 421 | 905 |
Oclaro, Inc. * | 788 | 2,309 |
OSI Systems, Inc. * | 217 | 18,701 |
PC Connection, Inc. | 112 | 2,603 |
Plantronics, Inc. | 231 | 12,386 |
Plexus Corp. * | 274 | 9,486 |
Polycom, Inc. * | 729 | 10,046 |
QLogic Corp. * | 403 | 4,997 |
Quantum Corp. * | 1,535 | 1,289 |
RealD, Inc. * | 627 | 6,377 |
Rofin-Sinar Technologies, Inc. * | 393 | 11,381 |
Rogers Corp. * | 112 | 5,210 |
Ruckus Wireless, Inc. * | 38,510 | 434,393 |
Sanmina Corp. * | 875 | 18,086 |
ScanSource, Inc. * | 35,186 | 1,214,269 |
ShoreTel, Inc. * | 202 | 1,907 |
Sonus Networks, Inc. * | 179 | 1,183 |
Stratasys Ltd. * | 285 | 7,267 |
Super Micro Computer, Inc. * | 323 | 9,112 |
SYNNEX Corp. | 257 | 22,729 |
Tech Data Corp. * | 203 | 14,776 |
TTM Technologies, Inc. * | 704 | 5,139 |
Ubiquiti Networks, Inc. * | 261 | 7,616 |
Universal Display Corp. * | 351 | 12,043 |
Security | Number of Shares | Value ($) |
ViaSat, Inc. * | 395 | 26,054 |
Violin Memory, Inc. * | 593 | 955 |
Vishay Intertechnology, Inc. | 722 | 7,653 |
Vishay Precision Group, Inc. * | 109 | 1,279 |
7,197,148 | ||
Telecommunication Services 2.2% | ||
8x8, Inc. * | 76,325 | 813,624 |
Atlantic Tele-Network, Inc. | 34 | 2,598 |
Boingo Wireless, Inc. * | 80 | 618 |
Cincinnati Bell, Inc. * | 1,940 | 7,314 |
Cogent Communications Holdings, Inc. | 398 | 12,227 |
Consolidated Communications Holdings, Inc. | 434 | 9,591 |
FairPoint Communications, Inc. * | 420 | 6,737 |
General Communication, Inc., Class A * | 408 | 8,309 |
Globalstar, Inc. * | 2,732 | 4,918 |
Hawaiian Telcom Holdco, Inc. * | 69 | 1,575 |
inContact, Inc. * | 312,202 | 2,778,598 |
Inteliquent, Inc. | 245 | 5,076 |
Intelsat S.A. * | 128 | 847 |
Iridium Communications, Inc. * | 595 | 4,885 |
NTELOS Holdings Corp. * | 106 | 974 |
ORBCOMM, Inc. * | 200 | 1,188 |
Pacific DataVision, Inc. * | 34 | 953 |
Premiere Global Services, Inc. * | 787 | 10,766 |
Shenandoah Telecommunications Co. | 209 | 9,779 |
Spok Holdings, Inc. | 257 | 4,634 |
Straight Path Communications, Inc., Class B * | 44 | 1,364 |
Vonage Holdings Corp. * | 1,484 | 9,008 |
Windstream Holdings, Inc. | 196 | 1,276 |
3,696,859 | ||
Transportation 0.5% | ||
Air Transport Services Group, Inc. * | 673 | 6,589 |
Allegiant Travel Co. | 121 | 23,891 |
ArcBest Corp. | 334 | 8,651 |
Atlas Air Worldwide Holdings, Inc. * | 244 | 10,063 |
Celadon Group, Inc. | 131 | 1,897 |
Covenant Transport Group, Inc., Class A * | 55 | 1,061 |
Eagle Bulk Shipping, Inc. * | 205 | 1,250 |
Echo Global Logistics, Inc. * | 62 | 1,475 |
Forward Air Corp. | 308 | 13,971 |
Golden Ocean Group Ltd. | 271 | 534 |
Hawaiian Holdings, Inc. * | 485 | 16,829 |
Heartland Express, Inc. | 343 | 6,459 |
Hub Group, Inc., Class A * | 177 | 7,076 |
Knight Transportation, Inc. | 490 | 12,456 |
Marten Transport Ltd. | 113 | 1,852 |
Matson, Inc. | 322 | 14,757 |
Navios Maritime Holdings, Inc. | 675 | 1,424 |
P.A.M. Transportation Services, Inc. * | 48 | 1,714 |
Park-Ohio Holdings Corp. | 53 | 1,828 |
Radiant Logistics, Inc. * | 95 | 377 |
Roadrunner Transportation Systems, Inc. * | 377 | 4,011 |
Safe Bulkers, Inc. | 243 | 748 |
Saia, Inc. * | 93 | 2,196 |
Security | Number of Shares | Value ($) |
Scorpio Bulkers, Inc. * | 1,065 | 1,491 |
SkyWest, Inc. | 188 | 3,580 |
Swift Transportation Co. * | 820 | 12,817 |
Ultrapetrol Bahamas Ltd. * | 1,100 | 495 |
Universal Truckload Services, Inc. | 73 | 1,167 |
USA Truck, Inc. * | 31 | 564 |
UTi Worldwide, Inc. * | 88,421 | 630,442 |
Virgin America, Inc. * | 92 | 3,276 |
Werner Enterprises, Inc. | 462 | 12,225 |
Wesco Aircraft Holdings, Inc. * | 180 | 2,243 |
XPO Logistics, Inc. * | 532 | 14,768 |
YRC Worldwide, Inc. * | 174 | 3,177 |
827,354 | ||
Utilities 2.1% | ||
Abengoa Yield plc | 439 | 8,135 |
ALLETE, Inc. | 270 | 13,557 |
American States Water Co. | 422 | 17,196 |
Artesian Resources Corp., Class A | 252 | 6,139 |
Atlantic Power Corp. | 1,045 | 2,132 |
Avista Corp. | 343 | 11,610 |
Black Hills Corp. | 401 | 18,358 |
California Water Service Group | 286 | 6,395 |
Chesapeake Utilities Corp. | 55 | 2,872 |
Cleco Corp. | 498 | 26,394 |
Connecticut Water Service, Inc. | 59 | 2,172 |
Consolidated Water Co., Ltd. | 113 | 1,251 |
Dynegy, Inc. * | 1,065 | 20,693 |
El Paso Electric Co. | 450 | 17,401 |
Genie Energy Ltd., Class B | 129 | 1,463 |
IDACORP, Inc. | 422 | 28,211 |
MGE Energy, Inc. | 265 | 10,936 |
Middlesex Water Co. | 87 | 2,242 |
New Jersey Resources Corp. | 26,557 | 841,326 |
Northwest Natural Gas Co. | 301 | 14,379 |
NorthWestern Corp. | 263 | 14,252 |
NRG Yield, Inc., Class A | 75 | 1,030 |
NRG Yield, Inc., Class C | 185 | 2,671 |
ONE Gas, Inc. | 310 | 15,140 |
Ormat Technologies, Inc. | 322 | 12,146 |
Otter Tail Corp. | 409 | 11,223 |
Pattern Energy Group, Inc. | 210 | 4,912 |
Piedmont Natural Gas Co., Inc. | 500 | 28,655 |
PNM Resources, Inc. | 427 | 12,007 |
Portland General Electric Co. | 633 | 23,472 |
SJW Corp. | 65 | 2,062 |
South Jersey Industries, Inc. | 724 | 19,193 |
Southwest Gas Corp. | 437 | 26,858 |
Spark Energy, Inc., Class A | 99 | 1,679 |
Talen Energy Corp. * | 328 | 2,847 |
The Empire District Electric Co. | 106 | 2,390 |
The Laclede Group, Inc. | 19,243 | 1,127,062 |
The York Water Co. | 254 | 5,888 |
UIL Holdings Corp. | 523 | 26,668 |
Vivint Solar, Inc. * | 386 | 4,566 |
WGL Holdings, Inc. | 17,752 | 1,104,707 |
3,502,290 | ||
Total Common Stock | ||
(Cost $146,641,229) | 154,713,677 | |
Security | Number of Shares | Value ($) |
Other Investment Companies 8.4% of net assets | ||
Equity Funds 3.1% | ||
iShares Russell 2000 ETF | 1,619 | 186,735 |
iShares Russell Mid-Cap ETF | 30,550 | 5,044,111 |
5,230,846 | ||
Money Market Fund 5.3% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (c) | 8,890,569 | 8,890,569 |
Total Other Investment Companies | ||
(Cost $14,208,273) | 14,121,415 | |
Rights 0.0% of net assets | ||
Automobiles & Components 0.0% | ||
Furiex Pharmaceuticals CVR *(d)(e) | 66 | 645 |
Telecommunication Services 0.0% | ||
Leap Wireless CVR *(d)(e) | 861 | 2,169 |
Total Rights | ||
(Cost $2,814) | 2,814 | |
Warrants 0.0% of net assets | ||
Energy 0.0% | ||
Magnum Hunter Resources Corp. *(d)(e) | 129 | — |
Total Warrants | ||
(Cost $—) | — | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.0% of net assets | ||
U.S. Treasury Obligation 0.0% | ||
U.S. Treasury Bill | ||
0.03%, 02/25/16 (a)(b) | 6,000 | 5,999 |
Total Short-Term Investment | ||
(Cost $5,999) | 5,999 |
At 10/31/15, the tax basis cost of the fund's investments was $160,575,313 and the unrealized appreciation and depreciation were $23,166,274 and ($14,897,682), respectively, with a net appreciation of $8,268,592.
* | Non-income producing security. |
(a) | All or a portion of this security is held as collateral for open futures contracts. |
(b) | The rate shown is the purchase yield. |
(c) | The rate shown is the 7-day yield. |
(d) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(e) | Illiquid security. At the period end, the value of these amounted to $11,945 or 0.0% of net assets. |
ADR — | American Depositary Receipt |
CVR — | Contingent Value Rights |
ETF — | Exchange Traded Fund |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/18/15 | 22 | 2,548,260 | 65,981 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $136,059,195 | $— | $— | $136,059,195 | |||||
Software & Services | 18,654,026 | — | 456 | 18,654,482 | |||||
Other Investment Companies1 | 14,121,415 | — | — | 14,121,415 | |||||
Rights 1 | — | — | 2,814 | 2,814 | |||||
Warrants 1 | — | — | — | — | |||||
Short-Term Investment1 | — | 5,999 | — | 5,999 | |||||
Total | $168,834,636 | $5,999 | $3,270 | $168,843,905 | |||||
Other Financial Instruments | |||||||||
Futures Contracts2 | $65,981 | $— | $— | $65,981 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of portfolio holdings and are valued at unrealized appreciation or depreciation. |
Investments in Securities | Balance as of October 31, 2014 | Realized Gains (Losses) | Change in Unrealized Appreciation (Depreciation) | Gross Purchases | Gross Sales | Gross Transfers in | Gross Transfers out | Balance as of October 31, 2015 | ||||||||
Common Stock | $— | $— | ($963) | $1,419 | $— | $— | $— | $456 | ||||||||
Rights | 2,814 | — | — | — | — | — | — | 2,814 | ||||||||
Total | $2,814 | $— | ($963) | $1,419 | $— | $— | $— | $3,270 |
Assets | ||
Investments, at value (cost $160,858,315) | $168,843,905 | |
Deposit with broker for futures contracts | 566,100 | |
Receivables: | ||
Investments sold | 1,416,217 | |
Fund shares sold | 745,188 | |
Dividends | 35,938 | |
Prepaid expenses | + | 15,970 |
Total assets | 171,623,318 | |
Liabilities | ||
Payables: | ||
Investments bought | 2,642,880 | |
Investment adviser and administrator fees | 28,833 | |
Shareholder service fees | 4,334 | |
Fund shares redeemed | 66,955 | |
Variation margin on futures contracts | 8,249 | |
Accrued expenses | + | 54,710 |
Total liabilities | 2,805,961 | |
Net Assets | ||
Total assets | 171,623,318 | |
Total liabilities | – | 2,805,961 |
Net assets | $168,817,357 | |
Net Assets by Source | ||
Capital received from investors | 150,524,567 | |
Distributions in excess of net investment income | (4,520) | |
Net realized capital gains | 10,245,739 | |
Net unrealized capital appreciation | 8,051,571 |
Net Asset Value (NAV) by Shares Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $62,280,192 | 3,574,632 | $17.42 | ||
Select Shares | $106,537,165 | 6,009,636 | $17.73 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $577) | $2,074,644 | |
Interest | + | 17 |
Total investment income | 2,074,661 | |
Expenses | ||
Investment adviser and administrator fees | 2,193,444 | |
Shareholder service fees: | ||
Investor Shares | 167,937 | |
Select Shares | 235,601 | |
Portfolio accounting fees | 62,962 | |
Transfer agent fees | 48,263 | |
Custodian fees | 45,065 | |
Professional fees | 41,605 | |
Shareholder reports | 24,660 | |
Registration fees | 16,017 | |
Independent trustees' fees | 7,738 | |
Proxy fees | 1,432 | |
Interest expense | 180 | |
Other expenses | + | 11,103 |
Total expenses | 2,856,007 | |
Expense reduction by CSIM and its affiliates | – | 501,664 |
Net expenses | – | 2,354,343 |
Net investment loss | (279,682) | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 11,039,588 | |
Net realized gains on futures contracts | + | 546,273 |
Net realized gains | 11,585,861 | |
Net change in unrealized appreciation (depreciation) on investments | (10,620,468) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (90,638) |
Net change in unrealized appreciation (depreciation) | + | (10,711,106) |
Net realized and unrealized gains | 874,755 | |
Increase in net assets resulting from operations | $595,073 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment loss | ($279,682) | ($333,865) | |
Net realized gains | 11,585,861 | 26,752,312 | |
Net change in unrealized appreciation (depreciation) | + | (10,711,106) | (17,949,435) |
Increase in net assets from operations | 595,073 | 8,469,012 | |
Distributions to Shareholders | |||
Distributions from net investment income | |||
Investor Shares | (112,615) | — | |
Select Shares | + | (400,670) | — |
Total distributions from net investment income | (513,285) | — | |
Distributions from net realized gains | |||
Investor Shares | (1,348,302) | — | |
Select Shares | + | (2,370,239) | — |
Total distributions from net realized gains | (3,718,541) | — | |
Total distributions | ($4,231,826) | $— |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares Sold | |||||
Investor Shares | 83,739 | $1,529,010 | 72,396 | $1,292,414 | |
Select Shares | + | 1,188,034 | 21,470,184 | 1,598,068 | 28,503,925 |
Total shares sold | 1,271,773 | $22,999,194 | 1,670,464 | $29,796,339 | |
Shares Reinvested | |||||
Investor Shares | 76,269 | $1,302,677 | — | $— | |
Select Shares | + | 156,402 | 2,715,136 | — | — |
Total shares reinvested | 232,671 | $4,017,813 | — | $— | |
Shares Redeemed | |||||
Investor Shares | (498,439) | ($9,134,342) | (547,678) | ($9,687,773) | |
Select Shares | + | (1,995,617) | (38,009,762) | (1,362,207) | (24,624,208) |
Total shares redeemed | (2,494,056) | ($47,144,104) | (1,909,885) | ($34,311,981) | |
Net transactions in fund shares | (989,612) | ($20,127,097) | (239,421) | ($4,515,642) | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 10,573,880 | $192,581,207 | 10,813,301 | $188,627,837 | |
Total increase or decrease | + | (989,612) | (23,763,850) | (239,421) | 3,953,370 |
End of period | 9,584,268 | $168,817,357 | 10,573,880 | $192,581,207 | |
Distributions in excess of net investment income | ($4,520) | ($1,405,856) |
Investor Shares | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $22.95 | $23.68 | $19.03 | $17.45 | $18.36 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.18 1 | 0.25 | 0.23 | 0.21 | 0.16 | |
Net realized and unrealized gains (losses) | (0.10) | (0.66) | 4.85 | 1.52 | (0.85) | |
Total from investment operations | 0.08 | (0.41) | 5.08 | 1.73 | (0.69) | |
Less distributions: | ||||||
Distributions from net investment income | (0.32) | (0.32) | (0.43) | (0.15) | (0.22) | |
Net asset value at end of period | $22.71 | $22.95 | $23.68 | $19.03 | $17.45 | |
Total return | 0.39% | (1.73%) | 27.23% | 10.05% | (3.87%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.40% | 1.40% | 1.40% | 1.53% 2 | 1.59% | |
Gross operating expenses | 1.59% | 1.59% | 1.60% | 1.62% | 1.60% | |
Net investment income (loss) | 0.76% | 1.06% | 1.10% | 1.19% | 0.80% | |
Portfolio turnover rate | 72% | 74% | 65% | 68% | 78% | |
Net assets, end of period (x 1,000,000) | $536 | $631 | $675 | $592 | $665 | |
Select Shares | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $22.95 | $23.68 | $19.03 | $17.46 | $18.38 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.21 1 | 0.28 | 0.28 | 0.25 | 0.19 | |
Net realized and unrealized gains (losses) | (0.10) | (0.65) | 4.83 | 1.50 | (0.86) | |
Total from investment operations | 0.11 | (0.37) | 5.11 | 1.75 | (0.67) | |
Less distributions: | ||||||
Distributions from net investment income | (0.35) | (0.36) | (0.46) | (0.18) | (0.25) | |
Net asset value at end of period | $22.71 | $22.95 | $23.68 | $19.03 | $17.46 | |
Total return | 0.56% | (1.57%) | 27.43% | 10.20% | (3.76%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.25% | 1.25% | 1.25% | 1.37% 2 | 1.45% | |
Gross operating expenses | 1.50% | 1.47% | 1.44% | 1.47% | 1.47% | |
Net investment income (loss) | 0.91% | 1.20% | 1.26% | 1.40% | 0.99% | |
Portfolio turnover rate | 72% | 74% | 65% | 68% | 78% | |
Net assets, end of period (x 1,000,000) | $1,395 | $1,592 | $1,590 | $1,062 | $961 |
Holdings by Category | Cost ($) | Value ($) | |
94.7% | Common Stock | 1,698,642,994 | 1,829,364,525 |
0.5% | Preferred Stock | 8,077,292 | 8,503,235 |
4.1% | Other Investment Companies | 82,419,204 | 78,753,449 |
0.0% | Rights | 6,603 | 6,410 |
0.0% | Short-Term Investments | 59,994 | 59,984 |
99.3% | Total Investments | 1,789,206,087 | 1,916,687,603 |
0.7% | Other Assets and Liabilities, Net | 14,361,512 | |
100.0% | Net Assets | 1,931,049,115 |
Security | Number of Shares | Value ($) |
Common Stock 94.7% of net assets | ||
Australia 3.8% | ||
Banks 0.1% | ||
Australia & New Zealand Banking Group Ltd. | 22,545 | 436,027 |
Bank of Queensland Ltd. | 2,681 | 24,855 |
Bendigo & Adelaide Bank Ltd. | 3,734 | 28,327 |
Commonwealth Bank of Australia | 13,783 | 748,389 |
National Australia Bank Ltd. | 21,225 | 453,252 |
Westpac Banking Corp. * | 1,110 | 24,102 |
Westpac Banking Corp. | 25,530 | 568,655 |
2,283,607 | ||
Capital Goods 0.0% | ||
CIMIC Group Ltd. | 776 | 15,212 |
Commercial & Professional Supplies 0.0% | ||
Brambles Ltd. | 12,712 | 93,611 |
Seek Ltd. | 2,421 | 21,993 |
115,604 | ||
Consumer Services 0.7% | ||
Aristocrat Leisure Ltd. | 1,236,987 | 8,165,249 |
Crown Resorts Ltd. | 2,906 | 23,552 |
Flight Centre Travel Group Ltd. | 21,937 | 590,184 |
InvoCare Ltd. | 498,670 | 3,925,408 |
Tabcorp Holdings Ltd. | 6,910 | 23,094 |
Tatts Group Ltd. | 10,662 | 29,936 |
12,757,423 |
Security | Number of Shares | Value ($) |
Diversified Financials 0.3% | ||
ASX Ltd. | 1,575 | 46,043 |
Challenger Ltd. | 56,507 | 329,505 |
Macquarie Group Ltd. | 59,765 | 3,618,702 |
OzForex Group Ltd. | 1,265,340 | 2,550,450 |
Platinum Asset Management Ltd. | 1,696 | 8,892 |
6,553,592 | ||
Energy 0.0% | ||
Caltex Australia Ltd. | 2,190 | 49,026 |
Origin Energy Ltd. | 14,173 | 55,073 |
Santos Ltd. | 7,948 | 32,810 |
Woodside Petroleum Ltd. | 6,031 | 126,488 |
WorleyParsons Ltd. | 2,058 | 9,495 |
272,892 | ||
Food & Staples Retailing 0.0% | ||
Wesfarmers Ltd. | 9,137 | 255,510 |
Woolworths Ltd. | 10,227 | 175,201 |
430,711 | ||
Food, Beverage & Tobacco 0.3% | ||
Bellamy's Australia Ltd. | 430,590 | 2,455,249 |
Coca-Cola Amatil Ltd. | 4,658 | 30,143 |
Costa Group Holdings Ltd. * | 1,816,249 | 3,014,048 |
Treasury Wine Estates Ltd. | 6,454 | 32,303 |
5,531,743 | ||
Health Care Equipment & Services 0.0% | ||
Cochlear Ltd. | 419 | 26,444 |
Healthscope Ltd. | 9,119 | 17,458 |
Ramsay Health Care Ltd. | 1,204 | 52,925 |
Sonic Healthcare Ltd. | 3,097 | 42,357 |
139,184 | ||
Household & Personal Products 0.1% | ||
Blackmores Ltd. | 23,440 | 2,790,429 |
Insurance 0.4% | ||
AMP Ltd. | 1,563,086 | 6,339,579 |
Insurance Australia Group Ltd. | 19,045 | 75,701 |
Medibank Pvt Ltd. | 22,305 | 37,420 |
QBE Insurance Group Ltd. | 10,914 | 102,163 |
Suncorp Group Ltd. | 10,464 | 97,206 |
6,652,069 | ||
Materials 1.0% | ||
Alumina Ltd. | 18,530 | 14,216 |
Amcor Ltd. | 9,814 | 94,791 |
BHP Billiton Ltd. | 26,121 | 428,404 |
Boral Ltd. | 6,426 | 24,581 |
Fortescue Metals Group Ltd. | 12,428 | 18,364 |
Iluka Resources Ltd. | 4,224 | 19,154 |
Incitec Pivot Ltd. | 13,672 | 38,180 |
James Hardie Industries plc CDI | 3,846 | 49,787 |
Newcrest Mining Ltd. * | 6,234 | 54,306 |
Orica Ltd. | 607,581 | 7,107,713 |
Pact Group Holdings Ltd. | 1,396,480 | 5,067,309 |
Regis Resources Ltd. | 1,664,810 | 2,454,490 |
Rio Tinto Ltd. | 3,544 | 126,726 |
Sandfire Resources NL | 610,920 | 2,730,363 |
South32 Ltd. *(e) | 17,178 | 17,660 |
South32 Ltd. *(e) | 26,121 | 27,049 |
18,273,093 |
Security | Number of Shares | Value ($) |
Media 0.0% | ||
REA Group Ltd. | 404 | 13,730 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
CSL Ltd. | 3,817 | 253,717 |
Real Estate 0.8% | ||
Charter Hall Retail REIT | 2,615,614 | 7,868,391 |
Dexus Property Group | 7,364 | 40,424 |
Federation Centres (a) | 28,094 | 58,035 |
Goodman Group | 13,831 | 59,340 |
Lend Lease Group | 74,286 | 683,244 |
Mirvac Group | 30,029 | 38,384 |
Scentre Group | 43,302 | 127,010 |
Shopping Centres Australasia Property Group | 3,800,587 | 5,553,725 |
Stockland | 18,630 | 53,469 |
The GPT Group | 13,708 | 46,427 |
Westfield Corp. | 16,056 | 116,488 |
14,644,937 | ||
Retailing 0.0% | ||
Harvey Norman Holdings Ltd. | 5,214 | 14,649 |
Software & Services 0.0% | ||
Computershare Ltd. | 3,845 | 29,470 |
Telecommunication Services 0.1% | ||
Telstra Corp., Ltd. | 493,319 | 1,890,223 |
TPG Telecom Ltd. | 2,113 | 16,561 |
1,906,784 | ||
Transportation 0.0% | ||
Asciano Ltd. | 7,933 | 46,198 |
Aurizon Holdings Ltd. | 17,383 | 63,735 |
Qantas Airways Ltd. * | 4,533 | 12,767 |
Sydney Airport | 8,660 | 39,577 |
Transurban Group | 15,918 | 117,953 |
280,230 | ||
Utilities 0.0% | ||
AGL Energy Ltd. | 5,376 | 63,752 |
APA Group | 9,027 | 58,813 |
AusNet Services | 11,439 | 11,732 |
134,297 | ||
73,093,373 | ||
Austria 0.0% | ||
Banks 0.0% | ||
Erste Group Bank AG * | 2,235 | 65,539 |
Raiffeisen Bank International AG * | 1,296 | 20,450 |
85,989 | ||
Capital Goods 0.0% | ||
ANDRITZ AG | 674 | 33,863 |
Energy 0.0% | ||
OMV AG | 1,175 | 31,288 |
Materials 0.0% | ||
voestalpine AG | 912 | 32,975 |
184,115 | ||
Belgium 0.3% | ||
Banks 0.2% | ||
KBC Groep N.V. | 56,445 | 3,431,949 |
Security | Number of Shares | Value ($) |
Diversified Financials 0.0% | ||
Groupe Bruxelles Lambert S.A. | 645 | 52,354 |
Food & Staples Retailing 0.0% | ||
Colruyt S.A. | 560 | 27,699 |
Delhaize Group | 833 | 77,293 |
104,992 | ||
Food, Beverage & Tobacco 0.0% | ||
Anheuser-Busch InBev N.V. | 6,540 | 780,383 |
Insurance 0.0% | ||
Ageas | 1,774 | 78,230 |
Materials 0.0% | ||
Solvay S.A. | 482 | 54,452 |
Umicore S.A. | 803 | 34,094 |
88,546 | ||
Media 0.1% | ||
Telenet Group Holding N.V. * | 21,920 | 1,274,938 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
UCB S.A. | 1,028 | 88,858 |
Telecommunication Services 0.0% | ||
Proximus | 1,215 | 42,045 |
5,942,295 | ||
Brazil 0.2% | ||
Food, Beverage & Tobacco 0.1% | ||
Ambev S.A. ADR | 505,765 | 2,463,075 |
Insurance 0.1% | ||
BB Seguridade Participacoes S.A. | 157,300 | 1,084,019 |
3,547,094 | ||
Canada 4.3% | ||
Banks 0.1% | ||
The Toronto-Dominion Bank | 70,446 | 2,891,971 |
Capital Goods 0.5% | ||
CAE, Inc. | 839,220 | 9,472,994 |
Commercial & Professional Supplies 0.2% | ||
Ritchie Bros. Auctioneers, Inc. | 152,800 | 3,966,069 |
Diversified Financials 0.5% | ||
CI Financial Corp. | 57,640 | 1,375,320 |
Element Financial Corp. * | 636,080 | 8,225,843 |
9,601,163 | ||
Energy 1.0% | ||
Canadian Natural Resources Ltd. | 111,611 | 2,587,982 |
Enbridge, Inc. | 86,888 | 3,713,804 |
Pason Systems, Inc. | 119,746 | 1,761,940 |
Raging River Exploration, Inc. * | 751,510 | 4,770,215 |
Suncor Energy, Inc. | 104,000 | 3,094,708 |
Whitecap Resources, Inc. | 488,420 | 4,336,614 |
20,265,263 | ||
Food & Staples Retailing 0.1% | ||
Alimentation Couche-Tard, Inc., Class B | 63,603 | 2,736,057 |
Insurance 0.1% | ||
Intact Financial Corp. | 18,200 | 1,299,861 |
Security | Number of Shares | Value ($) |
Materials 0.5% | ||
CCL Industries, Inc., Class B | 42,270 | 5,988,466 |
Norbord, Inc. | 150,890 | 2,851,401 |
8,839,867 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||
Concordia Healthcare Corp. | 119,560 | 3,657,388 |
Real Estate 0.6% | ||
Brookfield Asset Management, Inc., Class A | 105,283 | 3,681,747 |
FirstService Corp. | 121,050 | 4,258,412 |
Morguard Real Estate Investment Trust | 106,211 | 1,173,714 |
Northern Property Real Estate Investment Trust | 217,100 | 3,069,883 |
12,183,756 | ||
Retailing 0.1% | ||
Dollarama, Inc. | 31,366 | 2,118,812 |
Software & Services 0.3% | ||
Constellation Software, Inc. | 1,802 | 778,625 |
The Descartes Systems Group, Inc. * | 248,980 | 4,356,579 |
5,135,204 | ||
Transportation 0.1% | ||
Canadian National Railway Co. | 20,757 | 1,268,045 |
83,436,450 | ||
China 3.8% | ||
Automobiles & Components 0.4% | ||
Nexteer Automotive Group Ltd. | 7,809,000 | 8,291,216 |
Capital Goods 0.1% | ||
Haitian International Holdings Ltd. | 1,472,000 | 2,575,557 |
Consumer Durables & Apparel 0.2% | ||
Cosmo Lady China Holdings Co., Ltd. | 4,598,000 | 4,573,914 |
Insurance 0.2% | ||
Ping An Insurance (Group) Co. of China Ltd., Class H | 656,000 | 3,682,291 |
Real Estate 0.4% | ||
China Overseas Land & Investment Ltd. | 776,000 | 2,506,376 |
China Resources Land Ltd. | 762,000 | 1,980,123 |
China Vanke Co., Ltd., Class H | 484,700 | 1,131,117 |
Shenzhen Investment Ltd. | 6,810,000 | 2,755,017 |
8,372,633 | ||
Semiconductors & Semiconductor Equipment 0.3% | ||
Xinyi Solar Holdings Ltd. | 12,594,000 | 5,006,548 |
Software & Services 1.4% | ||
Baidu, Inc. ADR * | 85,645 | 16,055,868 |
Cheetah Mobile, Inc. ADR * | 188,970 | 3,769,952 |
Chinasoft International Ltd. * | 5,842,000 | 2,532,132 |
NetEase, Inc. ADR | 10,976 | 1,586,361 |
Tencent Holdings Ltd. | 156,500 | 2,949,927 |
26,894,240 | ||
Technology Hardware & Equipment 0.5% | ||
PAX Global Technology Ltd. | 3,946,000 | 5,160,030 |
Wasion Group Holdings Ltd. | 3,480,000 | 3,860,655 |
9,020,685 |
Security | Number of Shares | Value ($) |
Utilities 0.3% | ||
CT Environmental Group Ltd. | 13,492,000 | 4,782,232 |
ENN Energy Holdings Ltd. | 194,000 | 1,111,357 |
5,893,589 | ||
74,310,673 | ||
Denmark 1.6% | ||
Banks 0.2% | ||
Danske Bank A/S | 5,725 | 157,516 |
Sydbank A/S | 132,840 | 4,369,613 |
4,527,129 | ||
Capital Goods 0.0% | ||
Vestas Wind Systems A/S | 1,792 | 104,481 |
Commercial & Professional Supplies 0.0% | ||
ISS A/S | 1,179 | 41,473 |
Consumer Durables & Apparel 0.1% | ||
Pandora A/S | 23,209 | 2,678,257 |
Food, Beverage & Tobacco 0.0% | ||
Carlsberg A/S, Class B | 870 | 71,278 |
Health Care Equipment & Services 0.0% | ||
Coloplast A/S, Class B | 904 | 64,839 |
William Demant Holding A/S * | 203 | 17,636 |
82,475 | ||
Insurance 0.0% | ||
Tryg A/S | 860 | 15,455 |
Materials 1.0% | ||
Chr. Hansen Holding A/S | 301,830 | 18,134,828 |
Novozymes A/S, B Shares | 30,682 | 1,422,329 |
19,557,157 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||
Novo Nordisk A/S, Class B | 53,455 | 2,838,646 |
Telecommunication Services 0.0% | ||
TDC A/S | 6,604 | 34,525 |
Transportation 0.1% | ||
AP Moeller - Maersk A/S, Series A | 31 | 44,450 |
AP Moeller - Maersk A/S, Series B | 58 | 85,598 |
DSV A/S | 16,540 | 671,181 |
801,229 | ||
30,752,105 | ||
Finland 0.6% | ||
Automobiles & Components 0.0% | ||
Nokian Renkaat Oyj | 828 | 31,238 |
Capital Goods 0.3% | ||
Cramo Oyj | 156,680 | 2,877,141 |
Kone Oyj, Class B | 50,930 | 2,172,190 |
Metso Oyj | 828 | 20,271 |
Wartsila Oyj Abp | 1,183 | 50,503 |
5,120,105 | ||
Energy 0.0% | ||
Neste Oyj | 995 | 24,261 |
Insurance 0.3% | ||
Sampo Oyj, A Shares | 98,623 | 4,820,453 |
Security | Number of Shares | Value ($) |
Materials 0.0% | ||
Stora Enso Oyj, R Shares | 4,645 | 43,088 |
UPM-Kymmene Oyj | 4,259 | 79,732 |
122,820 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Orion Oyj, Class B | 820 | 29,288 |
Technology Hardware & Equipment 0.0% | ||
Nokia Oyj | 30,459 | 226,580 |
Telecommunication Services 0.0% | ||
Elisa Oyj | 23,371 | 880,532 |
Utilities 0.0% | ||
Fortum Oyj | 3,613 | 54,180 |
11,309,457 | ||
France 8.9% | ||
Automobiles & Components 0.5% | ||
Compagnie Generale des Etablissements Michelin | 1,515 | 150,706 |
Peugeot S.A. * | 3,643 | 64,006 |
Renault S.A. | 1,563 | 147,272 |
Valeo S.A. | 58,487 | 9,031,871 |
9,393,855 | ||
Banks 0.9% | ||
BNP Paribas S.A. | 294,656 | 17,855,328 |
Credit Agricole S.A. | 8,719 | 110,125 |
Natixis S.A. | 7,451 | 45,611 |
Societe Generale S.A. | 5,856 | 271,972 |
18,283,036 | ||
Capital Goods 0.5% | ||
Airbus Group SE | 4,780 | 332,856 |
Alstom S.A. * | 1,729 | 56,279 |
Bouygues S.A. | 1,705 | 64,444 |
Compagnie de Saint-Gobain | 3,873 | 162,128 |
Legrand S.A. | 2,160 | 118,377 |
LISI (f) | 158,464 | 3,868,426 |
Rexel S.A. | 2,349 | 32,059 |
Safran S.A. | 55,278 | 4,198,588 |
Schneider Electric SE | 4,505 | 271,720 |
Thales S.A. | 881 | 63,688 |
Vinci S.A. | 3,932 | 264,727 |
Zodiac Aerospace | 1,709 | 43,112 |
9,476,404 | ||
Commercial & Professional Supplies 0.8% | ||
Bureau Veritas S.A. | 288,301 | 6,511,531 |
Edenred | 1,682 | 30,883 |
Societe BIC S.A. | 232 | 36,971 |
Teleperformance | 107,320 | 8,422,574 |
15,001,959 | ||
Consumer Durables & Apparel 1.1% | ||
Christian Dior SE | 10,959 | 2,153,904 |
Hermes International | 3,723 | 1,432,043 |
Kering | 66,106 | 12,225,936 |
LVMH Moet Hennessy Louis Vuitton SE | 34,074 | 6,343,538 |
22,155,421 |
Security | Number of Shares | Value ($) |
Consumer Services 0.0% | ||
Accor S.A. | 1,712 | 85,017 |
Sodexo S.A. | 767 | 68,180 |
153,197 | ||
Diversified Financials 0.0% | ||
Eurazeo S.A. | 276 | 19,434 |
Wendel S.A. | 257 | 30,808 |
50,242 | ||
Energy 0.7% | ||
Gaztransport Et Technigaz S.A. | 132,867 | 6,647,427 |
Technip S.A. | 844 | 43,981 |
Total S.A. | 121,779 | 5,889,089 |
12,580,497 | ||
Food & Staples Retailing 0.0% | ||
Carrefour S.A. | 4,463 | 145,431 |
Casino Guichard Perrachon S.A. | 452 | 25,970 |
171,401 | ||
Food, Beverage & Tobacco 0.8% | ||
Danone S.A. | 126,006 | 8,757,423 |
Pernod-Ricard S.A. | 55,027 | 6,474,986 |
Remy Cointreau S.A. | 159 | 11,045 |
15,243,454 | ||
Health Care Equipment & Services 0.5% | ||
Essilor International S.A. | 24,429 | 3,206,634 |
Korian S.A. | 149,534 | 5,652,683 |
8,859,317 | ||
Household & Personal Products 0.0% | ||
L'Oreal S.A. | 2,044 | 372,631 |
Insurance 0.3% | ||
AXA S.A. | 245,747 | 6,558,524 |
CNP Assurances | 1,416 | 20,198 |
SCOR SE | 1,249 | 46,441 |
6,625,163 | ||
Materials 0.0% | ||
Air Liquide S.A. | 2,799 | 362,098 |
Arkema S.A. | 555 | 40,559 |
Imerys S.A. | 265 | 18,134 |
420,791 | ||
Media 0.1% | ||
Eutelsat Communications S.A. | 1,458 | 48,055 |
JC Decaux S.A. | 681 | 27,661 |
Lagardere S.C.A. | 993 | 28,892 |
Numericable-SFR SAS * | 804 | 36,329 |
Publicis Groupe S.A. | 8,756 | 567,172 |
SES S.A. | 2,681 | 79,104 |
Vivendi S.A. | 9,349 | 224,907 |
1,012,120 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.7% | ||
Boiron S.A. (f) | 44,825 | 3,962,077 |
Eurofins Scientific SE | 25,151 | 9,098,090 |
Sanofi | 9,591 | 967,500 |
14,027,667 | ||
Real Estate 0.3% | ||
Fonciere Des Regions | 232 | 21,837 |
Gecina S.A. | 302 | 38,518 |
ICADE | 305 | 22,539 |
Security | Number of Shares | Value ($) |
Klepierre | 1,400 | 66,304 |
Nexity S.A. | 113,010 | 5,000,724 |
5,149,922 | ||
Semiconductors & Semiconductor Equipment 0.0% | ||
STMicroelectronics N.V. | 5,184 | 35,719 |
Software & Services 0.6% | ||
Atos SE | 733 | 58,351 |
Cap Gemini S.A. | 45,720 | 4,065,241 |
Criteo S.A. ADR * | 62,270 | 2,369,996 |
Dassault Systemes S.A. | 1,011 | 79,756 |
Sopra Steria Group | 11,130 | 1,266,085 |
Worldline S.A. * | 140,610 | 3,410,131 |
11,249,560 | ||
Technology Hardware & Equipment 0.1% | ||
Alcatel-Lucent * | 22,888 | 92,910 |
Ingenico Group S.A. | 16,750 | 1,974,014 |
2,066,924 | ||
Telecommunication Services 0.0% | ||
Iliad S.A. | 209 | 43,893 |
Orange S.A. | 16,189 | 285,440 |
329,333 | ||
Transportation 0.0% | ||
Aeroports de Paris | 237 | 29,773 |
Bollore S.A. | 7,010 | 34,654 |
Groupe Eurotunnel SE - Reg'd | 3,802 | 53,221 |
117,648 | ||
Utilities 1.0% | ||
Electricite de France S.A. | 1,934 | 35,948 |
Engie | 11,774 | 206,054 |
Rubis S.C.A. | 205,894 | 16,502,219 |
Suez Environnement Co. | 2,504 | 47,546 |
Veolia Environnement S.A. | 134,992 | 3,135,896 |
19,927,663 | ||
172,703,924 | ||
Germany 8.7% | ||
Automobiles & Components 2.3% | ||
Bayerische Motoren Werke AG | 170,680 | 17,482,472 |
Continental AG | 21,094 | 5,065,295 |
Daimler AG - Reg'd | 192,431 | 16,686,409 |
ElringKlinger AG | 236,505 | 5,291,886 |
Volkswagen AG | 287 | 39,741 |
44,565,803 | ||
Banks 0.0% | ||
Commerzbank AG * | 8,629 | 94,899 |
Capital Goods 2.1% | ||
Brenntag AG | 33,477 | 2,021,452 |
Duerr AG | 54,084 | 4,503,183 |
GEA Group AG | 1,487 | 59,592 |
MAN SE | 281 | 29,281 |
MTU Aero Engines AG | 98,614 | 9,122,643 |
Nordex SE * | 120,010 | 3,920,030 |
Norma Group SE | 223,726 | 11,473,319 |
OSRAM Licht AG | 757 | 44,485 |
Rational AG | 7,817 | 3,102,103 |
Security | Number of Shares | Value ($) |
Siemens AG - Reg'd | 6,449 | 647,764 |
Stabilus S.A. *(f) | 137,367 | 5,290,411 |
40,214,263 | ||
Consumer Durables & Apparel 0.1% | ||
adidas AG | 15,002 | 1,344,456 |
Hugo Boss AG | 541 | 55,629 |
1,400,085 | ||
Diversified Financials 0.2% | ||
Aurelius AG | 83,310 | 3,713,308 |
Deutsche Bank AG - Reg'd | 11,219 | 314,006 |
Deutsche Boerse AG | 1,570 | 144,761 |
4,172,075 | ||
Food & Staples Retailing 0.0% | ||
METRO AG | 1,294 | 39,811 |
Health Care Equipment & Services 0.0% | ||
Fresenius Medical Care AG & Co. KGaA | 1,760 | 158,413 |
Fresenius SE & Co. KGaA | 3,071 | 225,665 |
384,078 | ||
Household & Personal Products 0.0% | ||
Beiersdorf AG | 807 | 76,646 |
Henkel AG & Co. KGaA | 846 | 78,088 |
154,734 | ||
Insurance 1.0% | ||
Allianz SE - Reg'd | 107,363 | 18,795,795 |
Hannover Rueck SE | 482 | 55,724 |
Muenchener Rueckversicherungs-Gesellschaft AG - Reg'd | 1,365 | 272,173 |
19,123,692 | ||
Materials 0.2% | ||
BASF SE | 28,343 | 2,321,967 |
Evonik Industries AG | 13,492 | 489,894 |
HeidelbergCement AG | 1,146 | 85,342 |
K&S AG - Reg'd | 1,635 | 41,273 |
LANXESS AG | 685 | 36,759 |
Linde AG | 1,510 | 261,918 |
Symrise AG | 1,018 | 67,001 |
ThyssenKrupp AG | 3,001 | 60,470 |
3,364,624 | ||
Media 1.1% | ||
Axel Springer SE | 304 | 17,085 |
CTS Eventim AG & Co. KGaA | 150,910 | 5,906,542 |
Kabel Deutschland Holding AG | 176 | 22,389 |
ProSiebenSat.1 Media SE | 98,584 | 5,327,045 |
RTL Group S.A. | 308 | 26,643 |
Stroeer SE | 161,530 | 10,191,774 |
21,491,478 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.4% | ||
Bayer AG - Reg'd | 6,726 | 896,814 |
Gerresheimer AG | 31,510 | 2,456,987 |
Merck KGaA | 1,051 | 102,608 |
QIAGEN N.V. * | 138,359 | 3,354,318 |
6,810,727 |
Security | Number of Shares | Value ($) |
Real Estate 0.1% | ||
Deutsche Wohnen AG | 34,762 | 979,912 |
Vonovia SE | 32,738 | 1,091,286 |
2,071,198 | ||
Retailing 0.4% | ||
Fielmann AG | 83,819 | 5,868,065 |
Zalando SE * | 24,984 | 873,063 |
6,741,128 | ||
Semiconductors & Semiconductor Equipment 0.0% | ||
Infineon Technologies AG | 9,171 | 112,968 |
Software & Services 0.6% | ||
SAP SE | 21,571 | 1,700,551 |
United Internet AG - Reg'd | 982 | 50,988 |
Wirecard AG | 189,240 | 9,775,026 |
11,526,565 | ||
Telecommunication Services 0.2% | ||
Deutsche Telekom AG - Reg'd | 26,105 | 488,988 |
Drillisch AG | 81,190 | 4,187,010 |
Telefonica Deutschland Holding AG | 4,887 | 31,461 |
4,707,459 | ||
Transportation 0.0% | ||
Deutsche Lufthansa AG - Reg'd * | 1,836 | 27,113 |
Deutsche Post AG - Reg'd | 7,871 | 233,819 |
Fraport AG Frankfurt Airport Services Worldwide | 367 | 23,269 |
284,201 | ||
Utilities 0.0% | ||
E.ON SE | 16,274 | 171,677 |
RWE AG | 3,980 | 55,311 |
226,988 | ||
167,486,776 | ||
Hong Kong 2.1% | ||
Banks 0.0% | ||
BOC Hong Kong (Holdings) Ltd. | 30,000 | 95,930 |
Hang Seng Bank Ltd. | 6,200 | 113,744 |
The Bank of East Asia Ltd. | 10,200 | 38,112 |
247,786 | ||
Capital Goods 0.0% | ||
CK Hutchison Holdings Ltd. | 22,038 | 301,777 |
NWS Holdings Ltd. | 12,000 | 18,036 |
319,813 | ||
Consumer Durables & Apparel 0.3% | ||
Li & Fung Ltd. | 48,000 | 38,912 |
Regina Miracle International Holdings Ltd. * | 3,052,000 | 2,783,996 |
Techtronic Industries Co., Ltd. | 509,000 | 1,860,738 |
Yue Yuen Industrial Holdings Ltd. | 6,000 | 21,888 |
4,705,534 | ||
Consumer Services 0.7% | ||
Galaxy Entertainment Group Ltd. | 19,000 | 64,902 |
Melco Crown Entertainment Ltd. ADR | 447,300 | 8,377,929 |
Melco International Development Ltd. | 3,738,000 | 5,786,243 |
Security | Number of Shares | Value ($) |
MGM China Holdings Ltd. | 7,600 | 11,085 |
Sands China Ltd. | 19,600 | 70,579 |
Shangri-La Asia Ltd. | 8,000 | 7,321 |
SJM Holdings Ltd. | 15,683 | 13,020 |
Wynn Macau Ltd. | 12,400 | 17,023 |
14,348,102 | ||
Diversified Financials 0.0% | ||
First Pacific Co., Ltd. | 24,000 | 16,423 |
Hong Kong Exchanges & Clearing Ltd. | 9,000 | 235,519 |
251,942 | ||
Food, Beverage & Tobacco 0.0% | ||
WH Group Ltd. * | 26,000 | 14,338 |
Insurance 0.5% | ||
AIA Group Ltd. | 1,523,800 | 8,934,541 |
Real Estate 0.1% | ||
Cheung Kong Property Holdings Ltd. | 22,038 | 154,203 |
Hang Lung Properties Ltd. | 18,000 | 44,043 |
Henderson Land Development Co., Ltd. | 9,123 | 58,266 |
Hysan Development Co., Ltd. | 6,000 | 26,613 |
Kerry Properties Ltd. | 6,000 | 17,761 |
Link REIT | 19,000 | 113,519 |
New World Development Co., Ltd. | 42,000 | 44,797 |
Sino Land Co., Ltd. | 24,000 | 37,044 |
Sun Hung Kai Properties Ltd. | 13,702 | 183,029 |
Swire Pacific Ltd., Class A | 5,000 | 57,768 |
Swire Properties Ltd. | 9,400 | 28,216 |
The Wharf Holdings Ltd. | 11,349 | 67,531 |
Wheelock & Co., Ltd. | 8,000 | 37,289 |
870,079 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
ASM Pacific Technology Ltd. | 241,200 | 1,712,676 |
Technology Hardware & Equipment 0.2% | ||
AAC Technologies Holdings, Inc. | 717,000 | 4,547,057 |
China High Precision Automation Group Ltd. *(a)(f) | 766,000 | — |
4,547,057 | ||
Telecommunication Services 0.2% | ||
HKBN Ltd. * | 3,211,983 | 3,854,435 |
HKT Trust & HKT Ltd. | 21,120 | 25,315 |
PCCW Ltd. | 28,000 | 15,076 |
3,894,826 | ||
Transportation 0.0% | ||
Cathay Pacific Airways Ltd. | 10,000 | 19,833 |
MTR Corp., Ltd. | 12,000 | 54,363 |
Pacific Basin Shipping Ltd. | 2,170,000 | 641,874 |
716,070 | ||
Utilities 0.0% | ||
Cheung Kong Infrastructure Holdings Ltd. | 5,574 | 51,710 |
CLP Holdings Ltd. | 15,500 | 134,749 |
Hong Kong & China Gas Co., Ltd. | 56,643 | 114,846 |
Power Assets Holdings Ltd. | 11,500 | 114,384 |
415,689 | ||
40,978,453 |
Security | Number of Shares | Value ($) |
India 0.6% | ||
Automobiles & Components 0.1% | ||
Maruti Suzuki India Ltd. | 17,233 | 1,172,851 |
Banks 0.5% | ||
Axis Bank Ltd. | 195,744 | 1,418,612 |
HDFC Bank Ltd. | 106,654 | 1,787,061 |
Housing Development Finance Corp., Ltd. | 63,666 | 1,220,335 |
Indiabulls Housing Finance Ltd. | 503,310 | 5,529,115 |
9,955,123 | ||
Transportation 0.0% | ||
Adani Ports & Special Economic Zone Ltd. | 139,467 | 630,123 |
11,758,097 | ||
Indonesia 0.3% | ||
Banks 0.3% | ||
PT Bank Mandiri (Persero) Tbk | 10,251,800 | 6,488,056 |
Ireland 0.6% | ||
Banks 0.0% | ||
Bank of Ireland * | 220,385 | 81,944 |
Capital Goods 0.0% | ||
Kingspan Group plc | 33,980 | 821,944 |
Consumer Services 0.2% | ||
Dalata Hotel Group plc * | 554,030 | 2,753,762 |
Food, Beverage & Tobacco 0.3% | ||
Glanbia plc (e) | 307,587 | 5,946,226 |
Glanbia plc (e) | 3,091 | 59,897 |
Kerry Group plc, Class A | 1,287 | 104,382 |
6,110,505 | ||
Materials 0.1% | ||
CRH plc | 6,589 | 180,346 |
Smurfit Kappa Group plc | 82,104 | 2,336,599 |
2,516,945 | ||
12,285,100 | ||
Israel 0.8% | ||
Banks 0.0% | ||
Bank Hapoalim B.M. | 8,587 | 44,698 |
Bank Leumi Le-Israel B.M. * | 10,786 | 40,926 |
Mizrahi Tefahot Bank Ltd. | 884 | 10,744 |
96,368 | ||
Energy 0.0% | ||
Delek Group Ltd. | 31 | 7,462 |
Materials 0.3% | ||
Frutarom Industries Ltd. | 120,670 | 5,210,875 |
Israel Chemicals Ltd. | 4,483 | 24,857 |
The Israel Corp., Ltd. | 35 | 9,029 |
5,244,761 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.3% | ||
Teva Pharmaceutical Industries Ltd. | 7,047 | 418,402 |
Teva Pharmaceutical Industries Ltd. ADR | 77,901 | 4,610,960 |
5,029,362 |
Security | Number of Shares | Value ($) |
Real Estate 0.0% | ||
Azrieli Group | 295 | 11,561 |
Software & Services 0.2% | ||
Check Point Software Technologies Ltd. * | 55,310 | 4,698,032 |
NICE-Systems Ltd. | 537 | 33,190 |
4,731,222 | ||
Telecommunication Services 0.0% | ||
Bezeq The Israeli Telecommunication Corp., Ltd. | 13,894 | 29,775 |
15,150,511 | ||
Italy 3.4% | ||
Automobiles & Components 0.0% | ||
Fiat Chrysler Automobiles N.V. * | 7,446 | 109,703 |
Banks 1.1% | ||
Banca Monte dei Paschi di Siena S.p.A. * | 17,688 | 32,470 |
Banco Popolare SC * | 2,946 | 44,023 |
FinecoBank Banca Fineco S.p.A. | 1,020,690 | 7,714,284 |
Intesa Sanpaolo S.p.A. | 3,507,773 | 12,203,735 |
UniCredit S.p.A. | 38,806 | 250,573 |
Unione di Banche Italiane S.p.A. | 6,967 | 52,125 |
20,297,210 | ||
Capital Goods 0.6% | ||
CNH Industrial N.V. | 1,772,280 | 11,997,048 |
Finmeccanica S.p.A. * | 3,291 | 43,022 |
Prysmian S.p.A. | 1,704 | 36,799 |
12,076,869 | ||
Consumer Durables & Apparel 0.8% | ||
Luxottica Group S.p.A. | 1,361 | 95,406 |
OVS S.p.A. * | 760,050 | 5,227,420 |
Prada S.p.A. | 2,213,400 | 8,995,704 |
Salvatore Ferragamo S.p.A. | 54,080 | 1,467,823 |
15,786,353 | ||
Diversified Financials 0.6% | ||
Azimut Holding S.p.A. | 35,348 | 850,226 |
Banca Generali S.p.A. | 51,912 | 1,598,875 |
EXOR S.p.A. | 176,685 | 8,762,534 |
Mediobanca S.p.A. | 4,816 | 48,433 |
11,260,068 | ||
Energy 0.0% | ||
Eni S.p.A. | 20,690 | 337,873 |
Saipem S.p.A. * | 2,112 | 19,841 |
Tenaris S.A. | 3,841 | 48,375 |
406,089 | ||
Food, Beverage & Tobacco 0.3% | ||
Davide Campari-Milano S.p.A. | 569,250 | 4,874,724 |
Insurance 0.0% | ||
Assicurazioni Generali S.p.A. | 9,497 | 179,935 |
UnipolSai S.p.A. | 7,022 | 16,930 |
196,865 | ||
Retailing 0.0% | ||
Yoox Net-A-Porter Group S.p.A. * | 20,657 | 700,388 |
Telecommunication Services 0.0% | ||
Telecom Italia S.p.A. * | 93,285 | 130,140 |
Security | Number of Shares | Value ($) |
Transportation 0.0% | ||
Atlantia S.p.A. | 3,358 | 92,994 |
Utilities 0.0% | ||
Enel Green Power S.p.A. | 13,956 | 29,506 |
Enel S.p.A. | 57,193 | 263,736 |
Snam S.p.A. | 17,446 | 90,283 |
Terna - Rete Elettrica Nationale S.p.A. | 12,062 | 61,351 |
444,876 | ||
66,376,279 | ||
Japan 16.9% | ||
Automobiles & Components 3.1% | ||
Aisin Seiki Co., Ltd. | 1,600 | 63,502 |
Bridgestone Corp. | 5,300 | 194,356 |
Daihatsu Motor Co., Ltd. | 1,600 | 19,599 |
Denso Corp. | 4,000 | 186,491 |
F.C.C. Co., Ltd. | 160,100 | 2,831,338 |
Fuji Heavy Industries Ltd. | 166,900 | 6,454,625 |
Honda Motor Co., Ltd. | 522,307 | 17,278,143 |
Isuzu Motors Ltd. | 4,800 | 56,062 |
Koito Manufacturing Co., Ltd. | 885 | 33,524 |
Mazda Motor Corp. | 4,400 | 86,369 |
Mitsubishi Motors Corp. | 5,100 | 45,172 |
Musashi Seimitsu Industry Co., Ltd. | 177,000 | 3,592,611 |
NGK Spark Plug Co., Ltd. | 1,400 | 34,167 |
NHK Spring Co., Ltd. | 1,000 | 10,178 |
Nifco, Inc. | 310,500 | 11,969,524 |
Nissan Motor Co., Ltd. | 20,200 | 209,398 |
NOK Corp. | 900 | 21,150 |
Stanley Electric Co., Ltd. | 1,400 | 26,741 |
Sumitomo Electric Industries Ltd. | 6,100 | 83,252 |
Sumitomo Rubber Industries Ltd. | 1,200 | 17,848 |
Suzuki Motor Corp. | 3,000 | 98,230 |
The Yokohama Rubber Co., Ltd. | 1,000 | 19,224 |
Toyoda Gosei Co., Ltd. | 400 | 9,169 |
Toyota Industries Corp. | 1,314 | 69,050 |
Toyota Motor Corp. | 279,777 | 17,140,379 |
Yamaha Motor Co., Ltd. | 2,100 | 47,087 |
60,597,189 | ||
Banks 0.7% | ||
Aozora Bank Ltd. | 9,000 | 32,895 |
Fukuoka Financial Group, Inc. | 6,000 | 31,573 |
Hokuhoku Financial Group, Inc. | 9,000 | 19,982 |
Kyushu Financial Group, Inc. * | 3,000 | 23,071 |
Mitsubishi UFJ Financial Group, Inc. | 577,800 | 3,736,939 |
Mizuho Financial Group, Inc. | 190,100 | 391,576 |
Resona Holdings, Inc. | 17,700 | 93,656 |
Seven Bank Ltd. | 5,000 | 22,783 |
Shinsei Bank Ltd. | 13,000 | 27,258 |
Sumitomo Mitsui Financial Group, Inc. | 144,000 | 5,744,685 |
Sumitomo Mitsui Trust Holdings, Inc. | 27,000 | 103,641 |
Suruga Bank Ltd. | 97,400 | 1,917,515 |
The Bank of Kyoto Ltd. | 3,000 | 30,299 |
The Bank of Yokohama Ltd. | 9,194 | 57,381 |
The Chiba Bank Ltd. | 6,000 | 43,770 |
The Chugoku Bank Ltd. | 1,500 | 21,264 |
The Gunma Bank Ltd. | 3,050 | 19,199 |
Security | Number of Shares | Value ($) |
The Hachijuni Bank Ltd. | 3,311 | 22,577 |
The Hiroshima Bank Ltd. | 4,086 | 22,692 |
The Iyo Bank Ltd. | 2,300 | 24,730 |
The Joyo Bank Ltd. | 5,000 | 25,971 |
The Shizuoka Bank Ltd. | 4,454 | 44,681 |
Yamaguchi Financial Group, Inc. | 1,274 | 15,670 |
12,473,808 | ||
Capital Goods 2.3% | ||
Amada Holdings Co., Ltd. | 2,826 | 25,203 |
Asahi Glass Co., Ltd. | 8,000 | 45,804 |
Daikin Industries Ltd. | 29,100 | 1,869,703 |
FANUC Corp. | 14,099 | 2,487,648 |
Fuji Electric Co., Ltd. | 142,000 | 633,541 |
Hino Motors Ltd. | 2,100 | 24,031 |
Hitachi Construction Machinery Co., Ltd. | 700 | 10,841 |
Hoshizaki Electric Co., Ltd. | 56,600 | 4,092,645 |
IHI Corp. | 11,000 | 31,036 |
ITOCHU Corp. | 12,829 | 160,529 |
Jamco Corp. | 115,400 | 4,840,681 |
JGC Corp. | 2,000 | 31,744 |
JTEKT Corp. | 1,700 | 29,303 |
Kajima Corp. | 7,000 | 40,057 |
Kawasaki Heavy Industries Ltd. | 12,000 | 48,165 |
Keihan Electric Railway Co., Ltd. | 4,126 | 29,259 |
Komatsu Ltd. | 593,100 | 9,749,073 |
Kubota Corp. | 9,000 | 139,513 |
Kurita Water Industries Ltd. | 900 | 20,323 |
LIXIL Group Corp. | 2,100 | 44,961 |
Mabuchi Motor Co., Ltd. | 400 | 19,792 |
Makita Corp. | 20,900 | 1,145,170 |
Marubeni Corp. | 13,245 | 76,530 |
Minebea Co., Ltd. | 2,587 | 28,493 |
MISUMI Group, Inc. | 558,100 | 7,267,632 |
Mitsubishi Corp. | 11,449 | 208,149 |
Mitsubishi Electric Corp. | 16,000 | 166,636 |
Mitsubishi Heavy Industries Ltd. | 25,000 | 126,037 |
Mitsui & Co., Ltd. | 13,800 | 175,024 |
Nabtesco Corp. | 1,000 | 20,025 |
NGK Insulators Ltd. | 2,000 | 43,300 |
Nidec Corp. | 1,800 | 135,641 |
NSK Ltd. | 4,000 | 47,308 |
Obayashi Corp. | 5,000 | 43,850 |
Penta-Ocean Construction Co., Ltd. | 1,147,900 | 5,212,842 |
Seibu Holdings, Inc. | 900 | 18,215 |
Shimizu Corp. | 5,000 | 43,778 |
SMC Corp. | 437 | 112,415 |
Sumitomo Corp. | 9,000 | 98,435 |
Sumitomo Heavy Industries Ltd. | 5,000 | 22,530 |
Tadano Ltd. | 69,000 | 824,235 |
Taisei Corp. | 8,000 | 51,988 |
Takeuchi Manufacturing Co., Ltd. | 195,000 | 3,673,183 |
THK Co., Ltd. | 1,100 | 20,721 |
Toshiba Corp. * | 33,000 | 93,095 |
TOTO Ltd. | 1,100 | 37,296 |
Toyota Tsusho Corp. | 1,700 | 38,933 |
44,105,313 | ||
Commercial & Professional Supplies 1.1% | ||
Dai Nippon Printing Co., Ltd. | 5,000 | 51,710 |
Meitec Corp. | 1,400 | 50,845 |
Mitsubishi Pencil Co., Ltd. | 74,600 | 3,340,257 |
Security | Number of Shares | Value ($) |
Nihon M&A Center, Inc. | 68,000 | 2,804,886 |
Park24 Co., Ltd. | 600 | 12,575 |
Recruit Holdings Co., Ltd. | 1,200 | 38,570 |
Secom Co., Ltd. | 48,000 | 3,201,842 |
Sohgo Security Services Co., Ltd. | 103,500 | 4,993,177 |
Temp Holdings Co., Ltd. | 464,800 | 6,939,382 |
Toppan Printing Co., Ltd. | 4,261 | 38,210 |
21,471,454 | ||
Consumer Durables & Apparel 0.4% | ||
Asics Corp. | 1,200 | 33,145 |
Bandai Namco Holdings, Inc. | 1,400 | 34,412 |
Casio Computer Co., Ltd. | 66,836 | 1,259,147 |
Haseko Corp. | 506,500 | 5,149,677 |
Iida Group Holdings Co., Ltd. | 1,313 | 24,609 |
Nikon Corp. | 2,700 | 34,929 |
Panasonic Corp. | 17,900 | 210,016 |
Rinnai Corp. | 300 | 23,783 |
Sankyo Co., Ltd. | 300 | 11,562 |
Sega Sammy Holdings, Inc. | 1,800 | 18,956 |
Sekisui Chemical Co., Ltd. | 3,382 | 39,904 |
Sekisui House Ltd. | 4,955 | 82,483 |
Sharp Corp. * | 11,419 | 12,516 |
Shimano, Inc. | 645 | 101,632 |
Sony Corp. | 10,200 | 289,939 |
Yamaha Corp. | 1,400 | 34,746 |
7,361,456 | ||
Consumer Services 0.4% | ||
Benesse Holdings, Inc. | 500 | 13,405 |
Kyoritsu Maintenance Co., Ltd. | 54,100 | 3,711,662 |
McDonald's Holdings Co., Ltd. | 400 | 9,460 |
Oriental Land Co., Ltd. | 1,600 | 97,195 |
Resorttrust, Inc. | 133,700 | 3,436,206 |
7,267,928 | ||
Diversified Financials 2.1% | ||
Acom Co., Ltd. * | 3,100 | 16,972 |
AEON Financial Service Co., Ltd. | 1,100 | 27,484 |
Credit Saison Co., Ltd. | 1,211 | 24,861 |
Daiwa Securities Group, Inc. | 2,007,000 | 13,723,003 |
Hitachi Capital Corp. | 19,400 | 557,454 |
Japan Exchange Group, Inc. | 4,200 | 67,582 |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 4,700 | 24,669 |
Nomura Holdings, Inc. | 2,510,600 | 15,792,534 |
ORIX Corp. | 441,100 | 6,441,722 |
SBI Holdings, Inc. | 1,936 | 21,912 |
Zenkoku Hosho Co., Ltd. | 121,200 | 4,101,059 |
40,799,252 | ||
Energy 0.0% | ||
Idemitsu Kosan Co., Ltd. | 600 | 9,839 |
Inpex Corp. | 7,900 | 75,303 |
JX Holdings, Inc. | 18,000 | 70,680 |
Showa Shell Sekiyu K.K. | 1,200 | 10,592 |
TonenGeneral Sekiyu K.K. | 2,367 | 24,592 |
191,006 | ||
Food & Staples Retailing 0.3% | ||
Aeon Co., Ltd. | 5,100 | 75,563 |
FamilyMart Co., Ltd. | 600 | 24,526 |
Lawson, Inc. | 529 | 39,185 |
Security | Number of Shares | Value ($) |
Seven & i Holdings Co., Ltd. | 6,100 | 277,091 |
Tsuruha Holdings, Inc. | 77,500 | 6,139,861 |
6,556,226 | ||
Food, Beverage & Tobacco 0.7% | ||
Ajinomoto Co., Inc. | 4,578 | 101,970 |
Ariake Japan Co., Ltd. | 86,500 | 3,923,481 |
Asahi Group Holdings Ltd. | 3,100 | 95,623 |
Calbee, Inc. | 700 | 25,362 |
Ezaki Glico Co., Ltd. | 106,300 | 5,077,123 |
Japan Tobacco, Inc. | 83,100 | 2,876,240 |
Kikkoman Corp. | 1,314 | 41,156 |
Kirin Holdings Co., Ltd. | 6,600 | 93,478 |
MEIJI Holdings Co., Ltd. | 1,000 | 78,800 |
NH Foods Ltd. | 1,409 | 29,390 |
Nisshin Seifun Group, Inc. | 1,900 | 29,040 |
Nissin Foods Holdings Co., Ltd. | 600 | 27,737 |
Suntory Beverage & Food Ltd. | 1,100 | 44,481 |
Toyo Suisan Kaisha Ltd. | 665 | 24,504 |
Yakult Honsha Co., Ltd. | 700 | 37,059 |
Yamazaki Baking Co., Ltd. | 1,000 | 19,259 |
12,524,703 | ||
Health Care Equipment & Services 1.2% | ||
Alfresa Holdings Corp. | 1,200 | 23,011 |
Asahi Intecc Co., Ltd. | 62,700 | 2,421,950 |
Hogy Medical Co., Ltd. | 78,800 | 3,782,672 |
Hoya Corp. | 114,600 | 4,729,171 |
M3, Inc. | 44,100 | 854,752 |
Medipal Holdings Corp. | 1,200 | 20,942 |
Miraca Holdings, Inc. | 86,900 | 3,867,506 |
Nipro Corp. | 323,900 | 3,631,048 |
Olympus Corp. | 78,900 | 2,661,401 |
Suzuken Co., Ltd. | 700 | 26,792 |
Sysmex Corp. | 14,000 | 800,223 |
Terumo Corp. | 2,500 | 74,175 |
22,893,643 | ||
Household & Personal Products 0.6% | ||
Kao Corp. | 47,700 | 2,448,885 |
Kose Corp. | 27,200 | 2,656,341 |
Pigeon Corp. | 193,700 | 5,427,256 |
Pola Orbis Holdings, Inc. | 15,900 | 1,011,254 |
Shiseido Co., Ltd. | 2,900 | 68,887 |
Unicharm Corp. | 3,000 | 64,069 |
11,676,692 | ||
Insurance 0.4% | ||
Anicom Holdings, Inc. * | 204,400 | 4,866,130 |
MS&AD Insurance Group Holdings, Inc. | 4,110 | 121,165 |
Sompo Japan Nipponkoa Holdings, Inc. | 2,700 | 84,775 |
Sony Financial Holdings, Inc. | 1,400 | 25,092 |
T&D Holdings, Inc. | 4,600 | 60,447 |
The Dai-ichi Life Insurance Co., Ltd. | 8,600 | 148,774 |
Tokio Marine Holdings, Inc. | 71,000 | 2,735,749 |
8,042,132 | ||
Materials 0.2% | ||
Air Water, Inc. | 1,278 | 20,912 |
Asahi Kasei Corp. | 10,463 | 64,208 |
Daicel Corp. | 100,100 | 1,322,760 |
Hitachi Chemical Co., Ltd. | 700 | 11,065 |
Hitachi Metals Ltd. | 2,000 | 22,652 |
Security | Number of Shares | Value ($) |
JFE Holdings, Inc. | 4,000 | 62,882 |
JSR Corp. | 1,800 | 28,428 |
Kaneka Corp. | 2,337 | 20,723 |
Kansai Paint Co., Ltd. | 2,373 | 36,173 |
Kobe Steel Ltd. | 25,000 | 31,569 |
Kuraray Co., Ltd. | 2,500 | 30,835 |
Maruichi Steel Tube Ltd. | 300 | 7,682 |
Mitsubishi Chemical Holdings Corp. | 10,800 | 67,301 |
Mitsubishi Gas Chemical Co., Inc. | 4,000 | 22,302 |
Mitsubishi Materials Corp. | 9,049 | 31,566 |
Mitsui Chemicals, Inc. | 6,000 | 22,687 |
Nippon Paint Holdings Co., Ltd. | 1,400 | 29,571 |
Nippon Steel & Sumitomo Metal Corp. | 6,200 | 125,690 |
Nissan Chemical Industries Ltd. | 31,400 | 779,865 |
Nitto Denko Corp. | 1,300 | 83,362 |
Oji Holdings Corp. | 8,000 | 41,432 |
Shin-Etsu Chemical Co., Ltd. | 3,324 | 197,675 |
Sumitomo Chemical Co., Ltd. | 12,000 | 68,738 |
Sumitomo Metal Mining Co., Ltd. | 4,000 | 49,626 |
Taiheiyo Cement Corp. | 9,000 | 29,670 |
Taiyo Nippon Sanso Corp. | 1,229 | 12,668 |
Teijin Ltd. | 7,000 | 24,710 |
Toray Industries, Inc. | 12,000 | 104,690 |
Toyo Seikan Group Holdings Ltd. | 1,100 | 21,256 |
3,372,698 | ||
Media 0.0% | ||
Dentsu, Inc. | 1,800 | 101,193 |
Hakuhodo DY Holdings, Inc. | 1,600 | 16,811 |
Toho Co., Ltd. | 800 | 20,818 |
138,822 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.3% | ||
Astellas Pharma, Inc. | 167,300 | 2,428,270 |
Chugai Pharmaceutical Co., Ltd. | 1,800 | 57,942 |
Daiichi Sankyo Co., Ltd. | 5,100 | 100,159 |
Eisai Co., Ltd. | 2,100 | 131,354 |
Hisamitsu Pharmaceutical Co., Inc. | 500 | 19,380 |
Kyowa Hakko Kirin Co., Ltd. | 2,000 | 32,966 |
Mitsubishi Tanabe Pharma Corp. | 1,800 | 30,437 |
Ono Pharmaceutical Co., Ltd. | 700 | 95,896 |
Otsuka Holdings Co., Ltd. | 3,200 | 106,497 |
Santen Pharmaceutical Co., Ltd. | 3,000 | 40,717 |
Shionogi & Co., Ltd. | 55,400 | 2,272,314 |
Sumitomo Dainippon Pharma Co., Ltd. | 1,100 | 12,175 |
Taisho Pharmaceutical Holdings Co., Ltd. | 300 | 18,718 |
Takeda Pharmaceutical Co., Ltd. | 6,500 | 317,410 |
5,664,235 | ||
Real Estate 0.4% | ||
Aeon Mall Co., Ltd. | 1,100 | 18,400 |
Daito Trust Construction Co., Ltd. | 600 | 64,948 |
Daiwa House Industry Co., Ltd. | 81,400 | 2,136,774 |
Hulic Co., Ltd. | 2,500 | 23,350 |
Invincible Investment Corp. | 7,050 | 4,180,189 |
Japan Prime Realty Investment Corp. | 5 | 16,276 |
Japan Real Estate Investment Corp. | 10 | 46,225 |
Japan Retail Fund Investment Corp. | 19 | 36,798 |
Security | Number of Shares | Value ($) |
Mitsubishi Estate Co., Ltd. | 10,587 | 227,054 |
Mitsui Fudosan Co., Ltd. | 8,000 | 217,709 |
Nippon Building Fund, Inc. | 12 | 56,991 |
Nippon Prologis REIT, Inc. | 13 | 22,861 |
Nomura Real Estate Holdings, Inc. | 1,200 | 25,643 |
Nomura Real Estate Master Fund, Inc. * | 29 | 36,746 |
NTT Urban Development Corp. | 700 | 6,936 |
Sumitomo Realty & Development Co., Ltd. | 26,495 | 872,437 |
Tokyo Tatemono Co., Ltd. | 1,700 | 21,123 |
Tokyu Fudosan Holdings Corp. | 3,900 | 27,414 |
United Urban Investment Corp. | 23 | 31,910 |
8,069,784 | ||
Retailing 0.6% | ||
ABC-Mart, Inc. | 200 | 11,155 |
Don Quijote Holdings Co., Ltd. | 1,000 | 36,734 |
Fast Retailing Co., Ltd. | 430 | 157,071 |
Gulliver International Co., Ltd. | 281,600 | 2,836,931 |
Hikari Tsushin, Inc. | 100 | 7,610 |
Isetan Mitsukoshi Holdings Ltd. | 2,721 | 43,650 |
J. Front Retailing Co., Ltd. | 2,000 | 32,845 |
Marui Group Co., Ltd. | 1,600 | 20,667 |
Nitori Holdings Co., Ltd. | 8,205 | 639,817 |
Rakuten, Inc. | 148,500 | 2,057,199 |
Ryohin Keikaku Co., Ltd. | 25,700 | 5,160,481 |
Sanrio Co., Ltd. | 300 | 7,970 |
Shimamura Co., Ltd. | 142 | 15,948 |
Takashimaya Co., Ltd. | 2,000 | 17,878 |
USS Co., Ltd. | 1,800 | 31,777 |
Yamada Denki Co., Ltd. | 5,600 | 25,192 |
11,102,925 | ||
Semiconductors & Semiconductor Equipment 0.0% | ||
Rohm Co., Ltd. | 800 | 39,545 |
Tokyo Electron Ltd. | 1,400 | 83,971 |
123,516 | ||
Software & Services 0.9% | ||
COLOPL, Inc. | 400 | 6,534 |
Dena Co., Ltd. | 133,900 | 2,148,330 |
Dip Corp. | 194,700 | 3,441,782 |
Fujitsu Ltd. | 15,000 | 70,899 |
GungHo Online Entertainment, Inc. | 3,100 | 10,096 |
IT Holdings Corp. | 26,900 | 664,993 |
Itochu Techno-Solutions Corp. | 400 | 8,769 |
Kakaku.com, Inc. | 1,000 | 18,655 |
Konami Holdings Corp. | 700 | 15,905 |
Mixi, Inc. | 301 | 11,494 |
Nexon Co., Ltd. | 1,100 | 15,258 |
Nintendo Co., Ltd. | 900 | 143,880 |
Nomura Research Institute Ltd. | 55,300 | 2,260,135 |
NS Solutions Corp. | 117,100 | 5,715,184 |
NTT Data Corp. | 1,000 | 49,765 |
Oracle Corp., Japan | 300 | 13,644 |
Otsuka Corp. | 400 | 19,336 |
SCSK Corp. | 22,300 | 854,981 |
Trend Micro, Inc. | 58,100 | 2,264,241 |
Yahoo Japan Corp. | 11,400 | 48,349 |
17,782,230 |
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment 0.9% | ||
Alps Electric Co., Ltd. | 35,000 | 1,086,371 |
Brother Industries Ltd. | 1,800 | 23,007 |
Canon, Inc. | 8,665 | 258,755 |
Citizen Holdings Co., Ltd. | 1,700 | 12,885 |
FUJIFILM Holdings Corp. | 3,800 | 151,577 |
Hamamatsu Photonics K.K. | 1,400 | 35,638 |
Hirose Electric Co., Ltd. | 300 | 36,311 |
Hitachi High-Technologies Corp. | 400 | 10,757 |
Hitachi Ltd. | 39,322 | 226,840 |
Horiba Ltd. | 15,500 | 609,902 |
Ibiden Co., Ltd. | 800 | 11,023 |
Keyence Corp. | 6,000 | 3,123,650 |
Konica Minolta, Inc. | 3,800 | 39,043 |
Kyocera Corp. | 2,600 | 117,610 |
Murata Manufacturing Co., Ltd. | 23,824 | 3,391,380 |
NEC Corp. | 21,000 | 64,785 |
Nippon Electric Glass Co., Ltd. | 3,000 | 14,680 |
Omron Corp. | 258,200 | 8,549,737 |
Ricoh Co., Ltd. | 5,700 | 61,434 |
Seiko Epson Corp. | 2,400 | 36,660 |
Shimadzu Corp. | 2,000 | 31,025 |
TDK Corp. | 1,000 | 63,697 |
Yaskawa Electric Corp. | 2,221 | 26,345 |
Yokogawa Electric Corp. | 2,100 | 23,458 |
18,006,570 | ||
Telecommunication Services 0.2% | ||
KDDI Corp. | 142,100 | 3,438,580 |
Nippon Telegraph & Telephone Corp. | 6,200 | 227,300 |
NTT DOCOMO, Inc. | 11,700 | 227,863 |
SoftBank Group Corp. | 7,831 | 438,755 |
4,332,498 | ||
Transportation 0.1% | ||
ANA Holdings, Inc. | 9,409 | 28,097 |
Central Japan Railway Co. | 1,200 | 218,896 |
East Japan Railway Co. | 2,738 | 260,317 |
Hankyu Hanshin Holdings, Inc. | 9,000 | 58,627 |
Japan Airlines Co., Ltd. | 1,000 | 37,673 |
Japan Airport Terminal Co., Ltd. | 300 | 16,225 |
Kamigumi Co., Ltd. | 2,000 | 17,183 |
Keikyu Corp. | 4,000 | 32,903 |
Keio Corp. | 5,000 | 40,694 |
Keisei Electric Railway Co., Ltd. | 2,266 | 27,924 |
Kintetsu Group Holdings Co., Ltd. | 15,000 | 57,991 |
Mitsubishi Logistics Corp. | 1,000 | 14,352 |
Mitsui O.S.K. Lines, Ltd. | 9,000 | 24,034 |
Nagoya Railroad Co., Ltd. | 8,000 | 33,062 |
Nippon Express Co., Ltd. | 7,000 | 36,062 |
Nippon Yusen K.K. | 12,000 | 31,397 |
Odakyu Electric Railway Co., Ltd. | 5,000 | 48,874 |
Tobu Railway Co., Ltd. | 8,000 | 38,694 |
Tokyu Corp. | 9,000 | 72,979 |
West Japan Railway Co. | 1,341 | 94,214 |
Yamato Holdings Co., Ltd. | 2,900 | 57,084 |
1,247,282 | ||
Utilities 0.0% | ||
Chubu Electric Power Co., Inc. | 5,131 | 78,930 |
Electric Power Development Co., Ltd. | 1,200 | 39,559 |
Security | Number of Shares | Value ($) |
Hokuriku Electric Power Co. | 1,200 | 17,899 |
Kyushu Electric Power Co., Inc. * | 3,400 | 41,034 |
Osaka Gas Co., Ltd. | 15,000 | 59,077 |
Shikoku Electric Power Co., Inc. | 1,200 | 20,373 |
The Chugoku Electric Power Co., Inc. | 2,200 | 33,245 |
The Kansai Electric Power Co., Inc. * | 5,600 | 71,751 |
Toho Gas Co., Ltd. | 3,330 | 20,394 |
Tohoku Electric Power Co., Inc. | 3,600 | 50,546 |
Tokyo Electric Power Co., Inc. * | 11,400 | 77,764 |
Tokyo Gas Co., Ltd. | 19,000 | 94,028 |
604,600 | ||
326,405,962 | ||
Luxembourg 0.2% | ||
Materials 0.2% | ||
APERAM S.A. * | 111,670 | 3,438,358 |
Telecommunication Services 0.0% | ||
Millicom International Cellular S.A. SDR | 528 | 29,434 |
3,467,792 | ||
Malaysia 0.2% | ||
Software & Services 0.2% | ||
My EG Services Berhad | 6,358,700 | 4,366,365 |
Mexico 0.2% | ||
Banks 0.1% | ||
Banregio Grupo Financiero S.A.B de C.V. | 505,240 | 2,725,662 |
Food, Beverage & Tobacco 0.1% | ||
Arca Continental S.A.B. de C.V. | 120,478 | 771,322 |
Fomento Economico Mexicano S.A.B. de C.V. ADR | 9,333 | 924,807 |
1,696,129 | ||
4,421,791 | ||
Netherlands 1.7% | ||
Banks 0.0% | ||
ING Groep N.V. CVA | 31,358 | 456,380 |
Capital Goods 1.0% | ||
Boskalis Westminster N.V. | 61,518 | 2,985,755 |
Koninklijke Philips N.V. | 466,858 | 12,585,903 |
TKH Group N.V. | 79,350 | 3,002,651 |
18,574,309 | ||
Commercial & Professional Supplies 0.2% | ||
Randstad Holding N.V. | 1,007 | 60,054 |
USG People N.V. | 202,150 | 3,213,043 |
3,273,097 | ||
Energy 0.0% | ||
Koninklijke Vopak N.V. | 550 | 22,094 |
Food & Staples Retailing 0.0% | ||
Koninklijke Ahold N.V. | 7,567 | 153,934 |
Security | Number of Shares | Value ($) |
Food, Beverage & Tobacco 0.0% | ||
Heineken Holding N.V. | 806 | 64,394 |
Heineken N.V. | 1,874 | 170,689 |
235,083 | ||
Household & Personal Products 0.0% | ||
Unilever N.V. CVA | 13,249 | 599,088 |
Insurance 0.0% | ||
Aegon N.V. | 15,335 | 94,103 |
Delta Lloyd N.V. | 1,975 | 15,563 |
NN Group N.V. | 1,942 | 60,848 |
170,514 | ||
Materials 0.1% | ||
Akzo Nobel N.V. | 22,315 | 1,578,348 |
ArcelorMittal | 8,127 | 45,383 |
Koninklijke DSM N.V. | 1,446 | 77,083 |
OCI N.V. * | 694 | 19,579 |
1,720,393 | ||
Media 0.1% | ||
Altice N.V., Class A * | 2,998 | 51,924 |
Altice N.V., Class B * | 693 | 12,307 |
RELX N.V. | 8,280 | 141,230 |
Wolters Kluwer N.V. | 53,277 | 1,800,618 |
2,006,079 | ||
Real Estate 0.2% | ||
Unibail-Rodamco SE | 11,773 | 3,276,789 |
Semiconductors & Semiconductor Equipment 0.1% | ||
ASML Holding N.V. | 2,837 | 263,164 |
NXP Semiconductors N.V. * | 32,285 | 2,529,530 |
2,792,694 | ||
Software & Services 0.0% | ||
Gemalto N.V. | 644 | 40,321 |
Telecommunication Services 0.0% | ||
Koninklijke (Royal) KPN N.V. | 26,048 | 95,445 |
Transportation 0.0% | ||
TNT Express N.V. | 4,420 | 37,141 |
33,453,361 | ||
New Zealand 0.5% | ||
Consumer Services 0.1% | ||
SKYCITY Entertainment Group Ltd. | 920,409 | 2,496,800 |
Health Care Equipment & Services 0.0% | ||
Ryman Healthcare Ltd. | 2,586 | 13,798 |
Materials 0.0% | ||
Fletcher Building Ltd. | 5,143 | 25,903 |
Telecommunication Services 0.0% | ||
Spark New Zealand Ltd. | 13,651 | 30,964 |
Transportation 0.4% | ||
Auckland International Airport Ltd. | 2,101,709 | 7,468,674 |
Utilities 0.0% | ||
Contact Energy Ltd. | 2,424 | 8,508 |
Meridian Energy Ltd. | 10,167 | 15,277 |
Mighty River Power Ltd. | 5,669 | 10,737 |
34,522 | ||
10,070,661 |
Security | Number of Shares | Value ($) |
Norway 0.3% | ||
Banks 0.0% | ||
DNB A.S.A. | 7,948 | 101,193 |
Energy 0.1% | ||
Hoegh LNG Holdings Ltd. | 158,770 | 1,909,195 |
Seadrill Ltd. * | 3,053 | 19,633 |
Statoil A.S.A. | 9,077 | 146,723 |
Subsea 7 S.A. * | 2,037 | 15,977 |
2,091,528 | ||
Food, Beverage & Tobacco 0.0% | ||
Orkla A.S.A. | 6,519 | 55,477 |
Insurance 0.1% | ||
Gjensidige Forsikring A.S.A. | 36,789 | 560,114 |
Materials 0.0% | ||
Norsk Hydro A.S.A. | 10,761 | 38,544 |
Yara International A.S.A. | 1,449 | 65,822 |
104,366 | ||
Telecommunication Services 0.1% | ||
Telenor A.S.A. | 105,144 | 1,980,719 |
4,893,397 | ||
Peru 0.1% | ||
Banks 0.1% | ||
Credicorp Ltd. | 10,384 | 1,175,261 |
Philippines 0.2% | ||
Materials 0.2% | ||
D&L Industries, Inc. | 15,374,800 | 3,195,142 |
Portugal 0.1% | ||
Banks 0.0% | ||
Banco Comercial Portugues S.A., Class R * | 391,289 | 22,430 |
Banco Espirito Santo S.A. - Reg'd *(a) | 42,176 | — |
22,430 | ||
Energy 0.0% | ||
Galp Energia, SGPS, S.A. | 3,081 | 33,259 |
Food & Staples Retailing 0.1% | ||
Jeronimo Martins, SGPS, S.A. | 92,117 | 1,293,020 |
Utilities 0.0% | ||
EDP - Energias de Portugal S.A. | 18,835 | 69,605 |
1,418,314 | ||
Republic of Korea 2.0% | ||
Capital Goods 0.2% | ||
Byucksan Corp. | 499,490 | 4,104,774 |
Consumer Durables & Apparel 0.2% | ||
Cuckoo Electronics Co., Ltd. | 18,030 | 3,953,548 |
Consumer Services 0.2% | ||
Hana Tour Service, Inc. | 25,800 | 2,842,435 |
Food, Beverage & Tobacco 0.2% | ||
NongShim Co., Ltd. | 12,320 | 3,981,418 |
Security | Number of Shares | Value ($) |
Household & Personal Products 0.1% | ||
Amorepacific Corp. | 2,138 | 705,742 |
Cosmax, Inc. | 10,080 | 1,692,829 |
2,398,571 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
SK Hynix, Inc. | 40,620 | 1,087,081 |
Technology Hardware & Equipment 1.0% | ||
Samsung Electronics Co., Ltd. | 16,087 | 19,295,160 |
37,662,987 | ||
Singapore 2.5% | ||
Banks 0.2% | ||
DBS Group Holdings Ltd. | 220,716 | 2,713,713 |
Oversea-Chinese Banking Corp., Ltd. | 25,038 | 160,941 |
United Overseas Bank Ltd. | 10,500 | 152,468 |
3,027,122 | ||
Capital Goods 0.1% | ||
Keppel Corp., Ltd. | 12,000 | 60,405 |
Noble Group Ltd. | 34,000 | 12,207 |
Sarine Technologies Ltd. (f) | 1,928,800 | 2,147,854 |
Sembcorp Industries Ltd. | 8,000 | 20,385 |
Sembcorp Marine Ltd. | 7,000 | 11,648 |
Singapore Technologies Engineering Ltd. | 13,000 | 30,641 |
Yangzijiang Shipbuilding Holdings Ltd. | 16,100 | 14,331 |
2,297,471 | ||
Consumer Services 0.0% | ||
Genting Singapore plc | 49,000 | 28,384 |
Diversified Financials 0.0% | ||
Singapore Exchange Ltd. | 7,000 | 36,830 |
Energy 0.0% | ||
Ezra Holdings Ltd. * | 3,559,120 | 309,729 |
Food, Beverage & Tobacco 0.0% | ||
Golden Agri-Resources Ltd. | 70,000 | 19,426 |
Wilmar International Ltd. | 16,000 | 35,654 |
55,080 | ||
Media 0.0% | ||
Singapore Press Holdings Ltd. | 13,000 | 36,972 |
Real Estate 0.9% | ||
Ascendas Real Estate Investment Trust | 4,803,500 | 8,178,092 |
CapitaLand Commercial Trust Ltd. | 15,000 | 15,053 |
CapitaLand Ltd. | 21,000 | 46,324 |
CapitaLand Mall Trust | 6,888,200 | 9,711,762 |
City Developments Ltd. | 3,427 | 19,395 |
Global Logistic Properties Ltd. | 25,000 | 39,985 |
Suntec Real Estate Investment Trust | 19,224 | 22,580 |
UOL Group Ltd. | 3,900 | 18,200 |
18,051,391 | ||
Retailing 0.0% | ||
Jardine Cycle & Carriage Ltd. | 1,111 | 25,723 |
Security | Number of Shares | Value ($) |
Telecommunication Services 0.4% | ||
Singapore Telecommunications Ltd. | 812,300 | 2,306,931 |
StarHub Ltd. | 1,696,600 | 4,352,314 |
6,659,245 | ||
Transportation 0.8% | ||
ComfortDelGro Corp., Ltd. | 18,500 | 40,027 |
Hutchison Port Holdings Trust, Class U | 46,000 | 25,477 |
SATS Ltd. | 2,706,600 | 7,314,837 |
SIA Engineering Co., Ltd. (f) | 2,858,600 | 8,129,155 |
Singapore Airlines Ltd. | 4,331 | 33,320 |
15,542,816 | ||
Utilities 0.1% | ||
Hyflux Ltd. | 3,770,800 | 1,823,765 |
47,894,528 | ||
South Africa 0.4% | ||
Capital Goods 0.1% | ||
The Bidvest Group Ltd. | 39,007 | 996,417 |
Consumer Durables & Apparel 0.1% | ||
Steinhoff International Holdings Ltd. | 455,893 | 2,787,073 |
Diversified Financials 0.1% | ||
FirstRand Ltd. | 467,493 | 1,713,052 |
Insurance 0.0% | ||
Sanlam Ltd. | 95,207 | 430,119 |
Media 0.1% | ||
Naspers Ltd., N Shares | 15,953 | 2,329,049 |
8,255,710 | ||
Spain 1.7% | ||
Banks 0.3% | ||
Banco Bilbao Vizcaya Argentaria S.A. *(a) | 2,623 | 22,567 |
Banco Bilbao Vizcaya Argentaria S.A. | 418,663 | 3,602,013 |
Banco de Sabadell S.A. | 40,269 | 77,691 |
Banco Popular Espanol S.A. | 14,705 | 55,910 |
Banco Santander S.A. | 116,588 | 651,284 |
Bankia S.A. | 36,876 | 47,389 |
Bankinter S.A. | 249,562 | 1,804,872 |
CaixaBank S.A. | 21,379 | 81,885 |
6,343,611 | ||
Capital Goods 0.0% | ||
ACS, Actividades de Construccion y Servicios S.A. | 1,467 | 49,773 |
Ferrovial S.A. | 3,746 | 94,502 |
Zardoya Otis S.A. | 1,387 | 17,054 |
161,329 | ||
Commercial & Professional Supplies 0.1% | ||
Prosegur Cia de Seguridad S.A. - Reg'd | 525,989 | 2,340,320 |
Consumer Services 0.6% | ||
Melia Hotels International S.A. | 800,380 | 11,557,518 |
Energy 0.0% | ||
Repsol S.A. | 8,779 | 110,513 |
Security | Number of Shares | Value ($) |
Food & Staples Retailing 0.1% | ||
Distribuidora Internacional de Alimentacion S.A. * | 159,344 | 1,012,407 |
Food, Beverage & Tobacco 0.0% | ||
Viscofan S.A. | 9,701 | 565,812 |
Insurance 0.0% | ||
Mapfre S.A. | 152,269 | 451,746 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Grifols S.A. | 1,192 | 55,208 |
Retailing 0.1% | ||
Industria de Diseno Textil S.A. | 64,403 | 2,411,529 |
Software & Services 0.2% | ||
Amadeus IT Holding S.A., A Shares | 88,419 | 3,761,040 |
Telecommunication Services 0.2% | ||
Cellnex Telecom S.A.U. * | 195,840 | 3,389,756 |
Telefonica S.A. | 36,405 | 480,304 |
3,870,060 | ||
Transportation 0.0% | ||
Abertis Infraestructuras S.A. | 3,987 | 66,208 |
Aena S.A. * | 573 | 63,950 |
International Consolidated Airlines Group S.A. * | 6,682 | 59,744 |
189,902 | ||
Utilities 0.1% | ||
Enagas S.A. | 1,834 | 55,457 |
Endesa S.A. | 2,673 | 59,435 |
Gas Natural SDG S.A. | 2,849 | 61,629 |
Iberdrola S.A. | 44,072 | 314,283 |
Red Electrica Corp. S.A. | 880 | 77,471 |
568,275 | ||
33,399,270 | ||
Sweden 2.8% | ||
Banks 0.1% | ||
Nordea Bank AB | 24,704 | 272,575 |
Skandinaviska Enskilda Banken AB, A Shares | 12,354 | 129,728 |
Svenska Handelsbanken AB, A Shares | 12,180 | 165,422 |
Swedbank AB, A Shares | 57,292 | 1,312,753 |
1,880,478 | ||
Capital Goods 1.5% | ||
Alfa Laval AB | 2,516 | 44,140 |
Assa Abloy AB, Class B | 95,316 | 1,896,129 |
Atlas Copco AB, A Shares | 68,530 | 1,785,939 |
Atlas Copco AB, B Shares | 202,474 | 4,894,773 |
Eltel AB *(f) | 354,185 | 3,905,995 |
Indutrade AB | 58,290 | 2,771,758 |
Inwido AB | 293,997 | 3,180,492 |
Saab AB, Class B | 132,740 | 3,738,235 |
Sandvik AB | 8,672 | 80,881 |
Skanska AB, B Shares | 3,040 | 59,319 |
SKF AB, B Shares | 396,970 | 6,975,595 |
Volvo AB, B Shares | 12,473 | 129,010 |
29,462,266 |
Security | Number of Shares | Value ($) |
Commercial & Professional Supplies 0.4% | ||
AF AB, B Shares | 392,912 | 5,810,510 |
Intrum Justitia AB | 20,321 | 729,061 |
Securitas AB, B Shares | 2,569 | 33,540 |
6,573,111 | ||
Consumer Durables & Apparel 0.3% | ||
Electrolux AB, B Shares | 1,924 | 56,605 |
Husqvarna AB, B Shares | 4,048 | 26,649 |
Nobia AB | 452,380 | 5,540,353 |
5,623,607 | ||
Diversified Financials 0.2% | ||
Avanza Bank Holding AB | 79,610 | 3,148,604 |
Industrivarden AB, C Shares | 1,365 | 24,776 |
Investment AB Kinnevik, B Shares | 1,883 | 60,007 |
Investor AB, B Shares | 3,704 | 137,078 |
3,370,465 | ||
Energy 0.0% | ||
Lundin Petroleum AB * | 1,568 | 22,697 |
Food & Staples Retailing 0.0% | ||
ICA Gruppen AB | 627 | 22,368 |
Food, Beverage & Tobacco 0.1% | ||
Swedish Match AB | 46,443 | 1,459,969 |
Health Care Equipment & Services 0.0% | ||
Getinge AB, B Shares | 1,628 | 40,686 |
Household & Personal Products 0.0% | ||
Svenska Cellulosa AB, S.C.A., B Shares | 4,775 | 140,643 |
Materials 0.0% | ||
Boliden AB | 2,307 | 44,170 |
Hexpol AB | 65,346 | 634,750 |
678,920 | ||
Retailing 0.2% | ||
Hennes & Mauritz AB, B Shares | 93,522 | 3,635,468 |
Technology Hardware & Equipment 0.0% | ||
Hexagon AB, B Shares | 2,074 | 71,937 |
Telefonaktiebolaget LM Ericsson, B Shares | 24,752 | 240,899 |
312,836 | ||
Telecommunication Services 0.0% | ||
Tele2 AB, B Shares | 2,620 | 26,165 |
TeliaSonera AB | 22,079 | 112,813 |
138,978 | ||
53,362,492 | ||
Switzerland 6.5% | ||
Capital Goods 0.9% | ||
ABB Ltd. - Reg'd * | 17,885 | 337,413 |
Belimo Holding AG - Reg'd | 717 | 1,537,801 |
Burckhardt Compression Holding AG (f) | 20,659 | 7,197,803 |
Daetwyler Holding AG | 20,915 | 2,932,034 |
Geberit AG - Reg'd | 5,494 | 1,773,020 |
Schindler Holding AG | 17,926 | 2,908,370 |
Schindler Holding AG - Reg'd | 169 | 27,507 |
Sulzer AG - Reg'd | 240 | 24,251 |
16,738,199 |
Security | Number of Shares | Value ($) |
Commercial & Professional Supplies 0.0% | ||
Adecco S.A. - Reg'd * | 1,385 | 102,954 |
SGS S.A. - Reg'd | 45 | 85,685 |
188,639 | ||
Consumer Durables & Apparel 1.0% | ||
Cie Financiere Richemont S.A. - Reg'd | 162,492 | 13,933,292 |
The Swatch Group AG - Bearer Shares | 15,251 | 5,956,117 |
The Swatch Group AG - Reg'd | 396 | 28,608 |
19,918,017 | ||
Diversified Financials 1.7% | ||
Credit Suisse Group AG - Reg'd * | 786,852 | 19,625,048 |
Julius Baer Group Ltd. * | 1,820 | 90,240 |
Leonteq AG * | 48,370 | 9,303,120 |
Pargesa Holding S.A. | 238 | 15,094 |
Partners Group Holding AG | 9,550 | 3,455,623 |
UBS Group AG - Reg’d | 59,212 | 1,182,607 |
33,671,732 | ||
Energy 0.0% | ||
Transocean Ltd. | 2,944 | 45,065 |
Food, Beverage & Tobacco 0.4% | ||
Aryzta AG * | 698 | 31,431 |
Barry Callebaut AG - Reg'd * | 18 | 21,570 |
Chocoladefabriken Lindt & Sprungli AG | 8 | 48,825 |
Chocoladefabriken Lindt & Sprungli AG - Reg'd | 1 | 74,194 |
Nestle S.A. - Reg'd | 105,748 | 8,076,391 |
8,252,411 | ||
Health Care Equipment & Services 0.6% | ||
Sonova Holding AG - Reg'd | 430 | 58,671 |
Straumann Holding AG - Reg'd | 25,480 | 7,209,855 |
Ypsomed Holding AG - Reg’d * | 27,260 | 3,585,209 |
10,853,735 | ||
Insurance 0.0% | ||
Baloise Holding AG - Reg'd | 386 | 46,280 |
Swiss Life Holding AG - Reg'd * | 257 | 61,241 |
Swiss Re AG | 2,864 | 265,867 |
Zurich Insurance Group AG * | 1,214 | 320,374 |
693,762 | ||
Materials 0.7% | ||
Clariant AG - Reg'd * | 100,535 | 1,848,672 |
EMS-Chemie Holding AG - Reg'd | 67 | 28,353 |
Givaudan S.A. - Reg'd * | 75 | 134,115 |
LafargeHolcim Ltd. * | 184,750 | 10,404,150 |
Sika AG | 17 | 55,752 |
Syngenta AG - Reg'd | 757 | 254,329 |
12,725,371 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.7% | ||
Actelion Ltd. - Reg'd * | 22,478 | 3,120,263 |
Lonza Group AG - Reg'd * | 15,889 | 2,332,183 |
Novartis AG - Reg'd | 60,640 | 5,493,296 |
Roche Holding AG | 5,716 | 1,551,888 |
12,497,630 | ||
Real Estate 0.0% | ||
Swiss Prime Site AG - Reg'd * | 569 | 43,473 |
Security | Number of Shares | Value ($) |
Retailing 0.0% | ||
Dufry AG - Reg'd * | 329 | 38,436 |
Semiconductors & Semiconductor Equipment 0.2% | ||
U-Blox AG * | 19,530 | 3,772,552 |
Software & Services 0.0% | ||
Luxoft Holding, Inc. * | 8,875 | 591,430 |
Telecommunication Services 0.0% | ||
Swisscom AG - Reg'd | 210 | 108,195 |
Transportation 0.3% | ||
Kuehne & Nagel International AG - Reg'd | 40,232 | 5,574,445 |
125,713,092 | ||
Taiwan 1.1% | ||
Automobiles & Components 0.2% | ||
Hota Industrial Manufacturing Co., Ltd. | 1,296,000 | 4,296,537 |
Consumer Durables & Apparel 0.2% | ||
Eclat Textile Co., Ltd. | 287,000 | 4,221,177 |
Diversified Financials 0.1% | ||
Fubon Financial Holding Co., Ltd. | 916,000 | 1,480,550 |
Health Care Equipment & Services 0.1% | ||
St. Shine Optical Co., Ltd. | 120,000 | 1,810,847 |
Semiconductors & Semiconductor Equipment 0.3% | ||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 242,369 | 5,322,423 |
Technology Hardware & Equipment 0.2% | ||
Catcher Technology Co., Ltd. | 130,000 | 1,275,823 |
Delta Electronics, Inc. | 283,000 | 1,438,938 |
Largan Precision Co., Ltd. | 11,000 | 854,795 |
3,569,556 | ||
20,701,090 | ||
United Arab Emirates 0.0% | ||
Banks 0.0% | ||
Dubai Islamic Bank PJSC | 362,112 | 636,212 |
United Kingdom 17.2% | ||
Automobiles & Components 0.0% | ||
GKN plc | 13,131 | 58,021 |
Banks 0.8% | ||
Barclays plc | 134,625 | 479,639 |
HSBC Holdings plc | 158,216 | 1,236,136 |
Lloyds Banking Group plc | 8,330,194 | 9,454,855 |
Royal Bank of Scotland Group plc * | 26,359 | 128,807 |
Standard Chartered plc | 20,071 | 222,801 |
Virgin Money Holdings UK plc | 785,470 | 4,690,655 |
16,212,893 | ||
Capital Goods 4.0% | ||
Ashtead Group plc | 157,678 | 2,424,416 |
BAE Systems plc | 25,717 | 173,962 |
Bodycote plc | 784,737 | 6,199,329 |
Brammer plc | 852,012 | 3,020,028 |
Bunzl plc | 71,643 | 2,048,742 |
Cobham plc | 9,260 | 39,536 |
Diploma plc | 688,023 | 6,804,107 |
Security | Number of Shares | Value ($) |
Galliford Try plc | 130,130 | 2,997,596 |
HellermannTyton Group plc | 1,242,722 | 9,078,878 |
IMI plc | 2,207 | 32,364 |
Interserve plc (f) | 929,460 | 7,942,124 |
Meggitt plc | 697,487 | 3,799,692 |
Melrose Industries plc | 7,414 | 30,332 |
Rolls-Royce Holdings plc * | 15,293 | 161,716 |
Rotork plc | 3,583,736 | 10,352,624 |
Smiths Group plc | 372,655 | 5,513,052 |
Spirax-Sarco Engineering plc | 192,998 | 9,047,183 |
The Weir Group plc | 1,707 | 28,042 |
Travis Perkins plc | 2,008 | 59,184 |
Ultra Electronics Holdings plc | 164,114 | 4,253,188 |
Wolseley plc | 55,134 | 3,236,987 |
77,243,082 | ||
Commercial & Professional Supplies 0.5% | ||
Aggreko plc | 2,083 | 29,361 |
Babcock International Group plc | 2,000 | 29,648 |
Capita plc | 97,572 | 1,913,961 |
Experian plc | 449,881 | 7,666,000 |
G4S plc | 283,619 | 1,059,422 |
Intertek Group plc | 1,291 | 52,140 |
10,750,532 | ||
Consumer Durables & Apparel 1.1% | ||
Barratt Developments plc | 7,894 | 74,365 |
Bellway plc | 258,390 | 10,320,820 |
Berkeley Group Holdings plc | 33,390 | 1,704,177 |
Burberry Group plc | 95,808 | 1,956,985 |
Persimmon plc * | 2,482 | 76,117 |
Redrow plc | 720,460 | 5,141,818 |
Taylor Wimpey plc | 428,475 | 1,305,287 |
20,579,569 | ||
Consumer Services 1.2% | ||
Carnival plc | 1,471 | 81,870 |
Compass Group plc | 201,653 | 3,466,596 |
Domino's Pizza Group plc | 312,150 | 5,245,887 |
Greene King plc | 577,159 | 7,140,052 |
InterContinental Hotels Group plc | 47,754 | 1,908,222 |
Merlin Entertainments plc | 6,740 | 43,007 |
TUI AG (e) | 3,665 | 68,153 |
TUI AG (e) | 116,728 | 2,168,088 |
Whitbread plc | 29,309 | 2,238,154 |
William Hill plc | 7,523 | 36,707 |
22,396,736 | ||
Diversified Financials 0.4% | ||
3i Group plc | 7,905 | 60,893 |
Aberdeen Asset Management plc | 7,356 | 39,222 |
Hargreaves Lansdown plc | 2,251 | 50,026 |
ICAP plc | 4,520 | 30,597 |
Investec plc | 4,456 | 37,119 |
London Stock Exchange Group plc | 2,533 | 99,173 |
Provident Financial plc | 35,670 | 1,904,110 |
Schroders plc | 119,780 | 5,495,903 |
Schroders plc, Non Voting Shares | 1,100 | 38,295 |
7,755,338 | ||
Energy 0.4% | ||
Amec Foster Wheeler plc | 3,151 | 34,479 |
BG Group plc | 27,736 | 438,188 |
BP plc | 148,994 | 885,469 |
Hunting plc | 81,659 | 452,628 |
Security | Number of Shares | Value ($) |
Petrofac Ltd. | 2,110 | 27,378 |
Royal Dutch Shell plc, A Shares | 212,333 | 5,559,365 |
Royal Dutch Shell plc, B Shares | 19,848 | 519,718 |
Tullow Oil plc * | 7,283 | 22,748 |
7,939,973 | ||
Food & Staples Retailing 0.0% | ||
J. Sainsbury plc | 11,567 | 47,395 |
Tesco plc * | 66,021 | 186,199 |
WM Morrison Supermarkets plc | 17,092 | 44,319 |
277,913 | ||
Food, Beverage & Tobacco 0.7% | ||
Associated British Foods plc | 2,897 | 153,934 |
British American Tobacco plc | 15,233 | 904,986 |
Coca-Cola HBC AG CDI * | 1,598 | 38,074 |
Diageo plc | 397,729 | 11,466,499 |
Imperial Tobacco Group plc | 7,784 | 419,153 |
SABMiller plc | 7,843 | 481,743 |
Tate & Lyle plc | 3,477 | 31,916 |
13,496,305 | ||
Health Care Equipment & Services 0.0% | ||
Smith & Nephew plc | 7,261 | 123,986 |
Household & Personal Products 0.5% | ||
Reckitt Benckiser Group plc | 27,497 | 2,683,445 |
Unilever plc | 155,424 | 6,920,796 |
9,604,241 | ||
Insurance 1.0% | ||
Admiral Group plc | 1,574 | 39,061 |
Aviva plc | 32,508 | 242,951 |
Direct Line Insurance Group plc | 11,183 | 67,834 |
Hiscox Ltd. | 69,847 | 1,038,679 |
Legal & General Group plc | 48,131 | 193,823 |
Old Mutual plc | 39,839 | 130,210 |
Prudential plc | 275,959 | 6,445,430 |
RSA Insurance Group plc | 8,104 | 52,448 |
St. James's Place plc | 3,550 | 52,613 |
Standard Life plc | 15,907 | 102,844 |
Willis Group Holdings plc | 231,200 | 10,313,832 |
18,679,725 | ||
Materials 2.2% | ||
Anglo American plc | 11,359 | 95,299 |
Antofagasta plc | 3,147 | 25,441 |
BHP Billiton plc | 17,178 | 274,573 |
Croda International plc | 320,003 | 14,274,378 |
Elementis plc | 1,638,983 | 5,909,113 |
Fresnillo plc | 1,755 | 19,685 |
Glencore plc * | 7,787,970 | 13,445,548 |
Johnson Matthey plc | 1,667 | 66,303 |
Mondi plc | 2,922 | 67,569 |
Randgold Resources Ltd. | 716 | 48,020 |
Rexam plc | 5,726 | 47,610 |
Rio Tinto plc | 10,349 | 377,172 |
Victrex plc | 282,881 | 8,038,170 |
42,688,881 | ||
Media 1.1% | ||
ITV plc | 1,447,245 | 5,618,622 |
Pearson plc | 6,661 | 88,430 |
RELX plc | 152,132 | 2,720,288 |
Rightmove plc | 88,310 | 5,215,706 |
Sky plc | 8,397 | 141,705 |
Security | Number of Shares | Value ($) |
UBM plc | 78,524 | 618,598 |
WPP plc | 282,090 | 6,323,561 |
20,726,910 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.7% | ||
AstraZeneca plc | 10,268 | 654,405 |
GlaxoSmithKline plc | 107,115 | 2,310,011 |
Hikma Pharmaceuticals plc | 147,330 | 4,909,351 |
Shire plc | 67,099 | 5,081,464 |
12,955,231 | ||
Real Estate 0.1% | ||
Derwent London plc | 19,867 | 1,186,516 |
Hammerson plc | 6,276 | 61,490 |
Intu Properties plc | 7,222 | 38,445 |
Land Securities Group plc | 6,428 | 132,428 |
Segro plc | 5,536 | 38,349 |
The British Land Co., plc | 7,819 | 104,733 |
1,561,961 | ||
Retailing 0.3% | ||
Dixons Carphone plc | 7,829 | 55,579 |
Inchcape plc | 67,035 | 824,426 |
Kingfisher plc | 19,274 | 104,769 |
Marks & Spencer Group plc | 13,277 | 104,839 |
Next plc | 34,286 | 4,222,489 |
Sports Direct International plc * | 2,219 | 23,808 |
5,335,910 | ||
Semiconductors & Semiconductor Equipment 0.0% | ||
ARM Holdings plc | 11,453 | 180,369 |
Software & Services 0.5% | ||
Auto Trader Group plc * | 1,244,290 | 7,439,973 |
Micro Focus International plc | 36,002 | 695,891 |
The Sage Group plc | 131,864 | 1,105,622 |
9,241,486 | ||
Technology Hardware & Equipment 1.1% | ||
Halma plc | 594,808 | 6,991,728 |
Laird plc | 866,112 | 4,512,306 |
Oxford Instruments plc | 237,097 | 1,894,146 |
Spectris plc | 209,867 | 5,382,515 |
Telit Communications plc * | 569,620 | 2,186,533 |
20,967,228 | ||
Telecommunication Services 0.3% | ||
BT Group plc | 735,643 | 5,253,603 |
Inmarsat plc | 3,582 | 54,292 |
Vodafone Group plc | 216,673 | 713,056 |
6,020,951 | ||
Transportation 0.2% | ||
easyJet plc | 157,060 | 4,230,904 |
Royal Mail plc | 5,187 | 35,537 |
4,266,441 | ||
Utilities 0.1% | ||
Centrica plc | 40,996 | 142,649 |
National Grid plc | 30,823 | 439,070 |
Severn Trent plc | 1,915 | 66,044 |
SSE plc | 76,398 | 1,777,368 |
United Utilities Group plc | 5,546 | 84,394 |
2,509,525 | ||
331,573,207 |
Security | Number of Shares | Value ($) |
United States 0.1% | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
ICON plc * | 23,409 | 1,495,133 |
Total Common Stock | ||
(Cost $1,698,642,994) | 1,829,364,525 | |
Preferred Stock 0.5% of net assets | ||
Germany 0.5% | ||
Automobiles & Components 0.0% | ||
Bayerische Motoren Werke AG | 404 | 32,670 |
Porsche Automobil Holding SE | 1,245 | 58,196 |
Volkswagen AG | 1,322 | 158,687 |
249,553 | ||
Capital Goods 0.2% | ||
Jungheinrich AG | 50,550 | 3,734,494 |
Health Care Equipment & Services 0.3% | ||
Sartorius AG | 18,780 | 4,250,065 |
Household & Personal Products 0.0% | ||
Henkel AG & Co. KGaA | 1,449 | 157,149 |
Materials 0.0% | ||
Fuchs Petrolub SE | 585 | 28,056 |
8,419,317 | ||
Italy 0.0% | ||
Banks 0.0% | ||
Intesa Sanpaolo S.p.A. - RSP | 8,353 | 26,649 |
Telecommunication Services 0.0% | ||
Telecom Italia S.p.A. - RSP | 49,011 | 55,084 |
81,733 | ||
United Kingdom 0.0% | ||
Capital Goods 0.0% | ||
Rolls-Royce Holdings plc *(a) | 1,417,661 | 2,185 |
Total Preferred Stock | ||
(Cost $8,077,292) | 8,503,235 | |
Other Investment Companies 4.1% of net assets | ||
Equity Fund 0.6% | ||
Vanguard FTSE Emerging Markets ETF | 335,000 | 11,671,400 |
Money Market Fund 3.5% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (b) | 67,082,049 | 67,082,049 |
Total Other Investment Companies | ||
(Cost $82,419,204) | 78,753,449 | |
Security | Number of Shares | Value ($) |
Rights 0.0% of net assets | ||
Spain 0.0% | ||
Banks 0.0% | ||
Banco Santander S.A. * | 116,588 | 6,410 |
Total Rights | ||
(Cost $6,603) | 6,410 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 0.0% of net assets | ||
U.S. Treasury Obligations 0.0% | ||
U.S. Treasury Bills | ||
0.03%, 02/25/16 (c)(d) | 50,000 | 49,988 |
0.03%, 03/17/16 (c)(d) | 5,000 | 4,998 |
0.04%, 03/17/16 (c)(d) | 5,000 | 4,998 |
Total Short-Term Investments | ||
(Cost $59,994) | 59,984 |
* | Non-income producing security. |
(a) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(b) | The rate shown is the 7-day yield. |
(c) | All or a portion of this security is held as collateral for open futures contracts. |
(d) | The rate shown is the purchase yield. |
(e) | Securities are traded on separate exchanges for the same entity. |
(f) | Illiquid security. At the period end, the value of these amounted to $42,443,845 or 2.2% of net assets. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
ETF — | Exchange Traded Fund |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
SDR — | Swedish Depositary Receipt |
AUD — | Australian dollar |
CHF — | Swiss franc |
NZD — | New Zealand dollar |
USD — | U.S. dollar |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/18/15 | 501 | 44,015,355 | (569,982) |
Expiration Date | Counterparty | Currency to be Received | Amount of Currency to be Received | Currency to be Delivered | Amount of Currency to be Delivered | Unrealized Appreciation (Depreciation) ($) | ||||||
Forward Foreign Currency Exchange Contracts | ||||||||||||
03/16/2016 | State Street Bank & Trust Co. | AUD | 890,000 | USD | 630,665 | (18,412) | ||||||
03/16/2016 | State Street Bank & Trust Co. | AUD | 1,184,000 | USD | 838,997 | (2,842) | ||||||
03/16/2016 | State Street Bank & Trust Co. | USD | 2,794,060 | AUD | 3,943,000 | 194,182 | ||||||
03/16/2016 | State Street Bank & Trust Co. | USD | 12,241,963 | CHF | 12,037,000 | 254,403 | ||||||
01/29/2016 | State Street Bank & Trust Co. | USD | 6,476,732 | NZD | 9,624,500 | (41,406) | ||||||
Net Unrealized Appreciation on Forward Foreign Currency Exchange Contracts | 385,925 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Common Stock1 | $— | $361,249,973 | $— | $361,249,973 | |||||
Australia 1 | — | 55,884,599 | — | 55,884,599 | |||||
Banks | 24,102 | 2,259,505 | — | 2,283,607 | |||||
Real Estate | — | 14,586,902 | 58,035 | 14,644,937 | |||||
Transportation | 12,767 | 267,463 | — | 280,230 | |||||
Brazil 1 | — | 1,084,019 | — | 1,084,019 | |||||
Food, Beverage & Tobacco | 2,463,075 | — | — | 2,463,075 | |||||
Canada 1 | 83,436,450 | — | — | 83,436,450 | |||||
China 1 | — | 42,842,519 | — | 42,842,519 | |||||
Consumer Durables & Apparel | 4,573,914 | — | — | 4,573,914 | |||||
Software & Services | 21,412,181 | 5,482,059 | — | 26,894,240 | |||||
France 1 | — | 147,426,697 | — | 147,426,697 | |||||
Pharmaceuticals, Biotechnology & Life Sciences | 3,962,077 | 10,065,590 | — | 14,027,667 | |||||
Software & Services | 2,369,996 | 8,879,564 | — | 11,249,560 | |||||
Hong Kong1 | — | 18,029,991 | — | 18,029,991 | |||||
Consumer Durables & Apparel | 2,783,996 | 1,921,538 | — | 4,705,534 | |||||
Consumer Services | 8,377,929 | 5,970,173 | — | 14,348,102 | |||||
Telecommunication Services | 25,315 | 3,869,511 | — | 3,894,826 | |||||
Ireland 1 | — | 3,420,833 | — | 3,420,833 | |||||
Consumer Services | 2,753,762 | — | — | 2,753,762 | |||||
Food, Beverage & Tobacco | 5,946,226 | 164,279 | — | 6,110,505 | |||||
Israel 1 | — | 5,389,927 | — | 5,389,927 | |||||
Pharmaceuticals, Biotechnology & Life Sciences | 4,610,960 | 418,402 | — | 5,029,362 | |||||
Software & Services | 4,698,032 | 33,190 | — | 4,731,222 | |||||
Italy 1 | — | 50,589,926 | — | 50,589,926 | |||||
Consumer Durables & Apparel | 8,995,704 | 6,790,649 | — | 15,786,353 | |||||
Japan 1 | — | 305,862,370 | — | 305,862,370 | |||||
Banks | 23,071 | 12,450,737 | — | 12,473,808 | |||||
Real Estate | 36,746 | 8,033,038 | — | 8,069,784 | |||||
Mexico 1 | 4,421,791 | — | — | 4,421,791 | |||||
Netherlands 1 | — | 27,599,120 | — | 27,599,120 | |||||
Banks | 456,380 | — | — | 456,380 | |||||
Household & Personal Products | 599,088 | — | — | 599,088 | |||||
Media | 64,231 | 1,941,848 | — | 2,006,079 | |||||
Semiconductors & Semiconductor Equipment | 2,529,530 | 263,164 | — | 2,792,694 | |||||
Peru 1 | 1,175,261 | — | — | 1,175,261 | |||||
Singapore 1 | — | 45,597,057 | — | 45,597,057 | |||||
Capital Goods | 2,147,854 | 149,617 | — | 2,297,471 | |||||
Spain 1 | — | 27,055,659 | — | 27,055,659 | |||||
Banks | — | 6,321,044 | 22,567 | 6,343,611 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Switzerland 1 | $— | $97,529,728 | $— | $97,529,728 | |||||
Capital Goods | 1,537,801 | 15,200,398 | — | 16,738,199 | |||||
Health Care Equipment & Services | 3,585,209 | 7,268,526 | — | 10,853,735 | |||||
Software & Services | 591,430 | — | — | 591,430 | |||||
Taiwan 1 | — | 15,378,667 | — | 15,378,667 | |||||
Semiconductors & Semiconductor Equipment | 5,322,423 | — | — | 5,322,423 | |||||
United Kingdom1 | — | 214,683,172 | — | 214,683,172 | |||||
Capital Goods | 15,882,985 | 61,360,097 | — | 77,243,082 | |||||
Insurance | 10,313,832 | 8,365,893 | — | 18,679,725 | |||||
Technology Hardware & Equipment | 2,186,533 | 18,780,695 | — | 20,967,228 | |||||
United States1 | 1,495,133 | — | — | 1,495,133 | |||||
Preferred Stock1 | — | 81,733 | — | 81,733 | |||||
Germany 1 | — | 4,169,252 | — | 4,169,252 | |||||
Health Care Equipment & Services | 4,250,065 | — | — | 4,250,065 | |||||
United Kingdom1 | — | — | 2,185 | 2,185 | |||||
Other Investment Companies1 | 78,753,449 | — | — | 78,753,449 | |||||
Rights | |||||||||
Spain 1 | 6,410 | — | — | 6,410 | |||||
Short-Term Investments1 | — | 59,984 | — | 59,984 | |||||
Total | $291,825,708 | $1,624,779,108 | $82,787 | $1,916,687,603 | |||||
Other Financial Instruments | |||||||||
Forward Foreign Currency Exchange Contracts2 | $— | $448,585 | $— | $448,585 | |||||
Liabilities Valuation Input | |||||||||
Other Financial Instruments | |||||||||
Futures Contracts2 | ($569,982) | $— | $— | ($569,982) | |||||
Forward Foreign Currency Exchange Contracts2 | — | (62,660) | — | (62,660) |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts and forward foreign currency exchange contracts are not included in Investments in the schedule of portfolio holdings and are valued at unrealized appreciation or depreciation. |
Investments in Securities | Balance as of October 31, 2014 | Realized Gains (Losses) | Change in Unrealized Appreciation (Depreciation) | Gross Purchases | Gross Sales | Gross Transfers in | Gross Transfers out | Balance as of October 31, 2015 | ||||||||
Common Stock | ||||||||||||||||
Australia | $— | $— | ($7,835) | $31,114 | ($2) | $34,758 | $— | $58,035 | ||||||||
Spain | — | (2) | 936 | 21,633 | — | — | — | 22,567 | ||||||||
Preferred Stock | ||||||||||||||||
United Kingdom | 3,056 | — | 10 | 2,185 | (3,066) | — | — | 2,185 | ||||||||
Total | $3,056 | ($2) | ($6,889) | $54,932 | ($3,068) | $34,758 | $— | $82,787 |
Assets | ||
Investments, at value (cost $1,789,206,087) | $1,916,687,603 | |
Foreign currency, at value (cost $495,567) | 494,621 | |
Deposit with broker for futures contracts | 6,510,000 | |
Receivables: | ||
Investments sold | 9,453,961 | |
Fund shares sold | 4,169,068 | |
Dividends | 3,499,124 | |
Foreign tax reclaims | 1,796,740 | |
Unrealized appreciation on forward foreign currency exchange contracts | 448,585 | |
Prepaid expenses | + | 87,016 |
Total assets | 1,943,146,718 | |
Liabilities | ||
Payables: | ||
Investments bought | 10,430,008 | |
Investment adviser and administrator fees | 344,003 | |
Shareholder service fees | 358,978 | |
Fund shares redeemed | 813,492 | |
Variation margin on futures contracts | 88,462 | |
Unrealized depreciation on forward foreign currency exchange contracts | + | 62,660 |
Total liabilities | 12,097,603 | |
Net Assets | ||
Total assets | 1,943,146,718 | |
Total liabilities | – | 12,097,603 |
Net assets | $1,931,049,115 | |
Net Assets by Source | ||
Capital received from investors | 1,706,507,361 | |
Net investment income not yet distributed | 15,706,816 | |
Net realized capital gains | 81,656,152 | |
Net unrealized capital appreciation | 127,178,786 |
Net Asset Value (NAV) by Shares Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $536,121,818 | 23,608,237 | $22.71 | ||
Select Shares | $1,394,927,297 | 61,428,291 | $22.71 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $4,279,276) | $45,717,650 | |
Interest | + | 237 |
Total investment income | 45,717,887 | |
Expenses | ||
Investment adviser and administrator fees | 26,783,125 | |
Shareholder service fees: | ||
Investor Shares | 1,382,545 | |
Select Shares | 2,192,211 | |
Custodian fees | 1,208,544 | |
Portfolio accounting fees | 198,879 | |
Transfer agent fees | 159,000 | |
Shareholder reports | 144,145 | |
Professional fees | 69,667 | |
Registration fees | 41,253 | |
Independent trustees' fees | 17,049 | |
Proxy fees | 9,426 | |
Interest expense | 1,835 | |
Other expenses | + | 141,535 |
Total expenses | 32,349,214 | |
Expense reduction by CSIM and its affiliates | – | 4,981,287 |
Net expenses | – | 27,367,927 |
Net investment income | 18,349,960 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments (net of foreign capital gain tax paid of $709,659) | 108,010,892 | |
Net realized gains on futures contracts | 91,709 | |
Net realized gains on foreign currency transactions | + | 5,846,601 |
Net realized gains | 113,949,202 | |
Net change in unrealized appreciation (depreciation) on investments (net of change in foreign capital gain tax of $1,138,481) | (111,529,269) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (494,083) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | (3,247,545) |
Net change in unrealized appreciation (depreciation) | + | (115,270,897) |
Net realized and unrealized losses | (1,321,695) | |
Increase in net assets resulting from operations | $17,028,265 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $18,349,960 | $26,641,585 | |
Net realized gains | 113,949,202 | 224,500,692 | |
Net change in unrealized appreciation (depreciation) | + | (115,270,897) | (286,715,625) |
Increase (decrease) in net assets from operations | 17,028,265 | (35,573,348) | |
Distributions to Shareholders | |||
Distributions from net investment income | |||
Investor Shares | (8,584,765) | (9,151,462) | |
Select Shares | + | (24,212,500) | (24,452,646) |
Total distributions from net investment income | (32,797,265) | (33,604,108) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares Sold | |||||
Investor Shares | 1,572,262 | $36,357,838 | 2,681,598 | $63,944,369 | |
Select Shares | + | 11,333,727 | 263,224,442 | 17,762,259 | 421,251,532 |
Total shares sold | 12,905,989 | $299,582,280 | 20,443,857 | $485,195,901 | |
Shares Reinvested | |||||
Investor Shares | 358,089 | $7,806,344 | 364,557 | $8,395,762 | |
Select Shares | + | 454,613 | 9,896,917 | 703,683 | 16,184,703 |
Total shares reinvested | 812,702 | $17,703,261 | 1,068,240 | $24,580,465 | |
Shares Redeemed | |||||
Investor Shares | (5,819,694) | ($132,991,809) | (4,050,133) | ($96,267,673) | |
Select Shares | + | (19,712,757) | (460,500,168) | (16,261,189) | (386,422,770) |
Total shares redeemed | (25,532,451) | ($593,491,977) | (20,311,322) | ($482,690,443) | |
Net transactions in fund shares | (11,813,760) | ($276,206,436) | 1,200,775 | $27,085,923 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 96,850,288 | $2,223,024,551 | 95,649,513 | $2,265,116,084 | |
Total increase or decrease | + | (11,813,760) | (291,975,436) | 1,200,775 | (42,091,533) |
End of period | 85,036,528 | $1,931,049,115 | 96,850,288 | $2,223,024,551 | |
Net investment income not yet distributed | $15,706,816 | $18,038,415 |
Schwab Capital Trust (organized May 7, 1993) | Schwab Target 2010 Fund |
Laudus Small-Cap MarketMasters Fund | Schwab Target 2015 Fund |
Laudus International MarketMasters Fund | Schwab Target 2020 Fund |
Schwab ® S&P 500 Index Fund | Schwab Target 2025 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2030 Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2035 Fund |
Schwab International Index Fund® | Schwab Target 2040 Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Target 2045 Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Target 2050 Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Target 2055 Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Fundamental US Large Company Index Fund |
Schwab Balanced Fund™ | Schwab Fundamental US Small Company Index Fund |
Schwab Core Equity Fund™ | Schwab Fundamental International Large Company Index Fund |
Schwab Dividend Equity Fund™ | Schwab Fundamental International Small Company Index Fund |
Schwab Large-Cap Growth Fund™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab Small-Cap Equity Fund™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab Hedged Equity Fund™ | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab Financial Services Fund™ | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab Health Care Fund™ | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab ® International Core Equity Fund |
% of Average Daily Net Assets | Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | ||
First $500 million | 1.17% | 1.29% | ||
$500 million to $1 billion | 1.13% | 1.275% | ||
Over $1 billion | 1.07% | 1.25% |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | ||
Investor Shares | 1.35% | 1.40% | |
Select Shares | 1.20% | 1.25% |
Underlying Funds | ||||
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | |||
Schwab Target 2010 Fund | 0.3% | 0.2% | ||
Schwab Target 2015 Fund | 0.6% | 0.3% | ||
Schwab Target 2020 Fund | 4.2% | 2.2% | ||
Schwab Target 2025 Fund | 4.0% | 2.0% | ||
Schwab Target 2030 Fund | 9.3% | 4.4% | ||
Schwab Target 2035 Fund | 4.7% | 2.1% | ||
Schwab Target 2040 Fund | 13.6% | 5.6% | ||
Schwab Target 2045 Fund | 1.2% | 0.5% | ||
Schwab Target 2050 Fund | 1.0% | 0.4% | ||
Schwab Target 2055 Fund | 0.6% | 0.2% | ||
Schwab Monthly Income Fund - Moderate Payout | —% | 0.3% | ||
Schwab Monthly Income Fund - Enhanced Payout | —% | 0.4% | ||
Schwab Monthly Income Fund - Maximum Payout | —% | 0.1% | ||
Schwab Balanced Fund | 18.7% | —% |
Purchases of Securities | Sales/Maturities of Securities | ||
Laudus Small-Cap MarketMasters Fund | $89,765,861 | $106,543,979 | |
Laudus International MarketMasters Fund | 1,466,462,364 | 1,749,465,130 |
Contract Values | Number of Contracts | ||
Laudus Small-Cap MarketMasters Fund | $2,979,978 | 25 | |
Laudus International MarketMasters Fund | 26,686,677 | 297 |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | ||||
Asset Derivatives | Fair Value | ||||
Equity Index - Futures Contracts1 | $65,981 | $— | |||
Forward Foreign Currency Exchange Contracts2 | — | 448,585 | |||
Total | $65,981 | $448,585 | |||
Liability Derivatives | Fair Value | ||||
Equity Index - Futures Contracts3 | $— | $569,982 | |||
Forward Foreign Currency Exchange Contracts4 | — | 62,660 | |||
Total | $— | $632,642 |
1 | Includes cumulative unrealized appreciation of futures contracts as reported in the Schedule of Portfolio Holdings. Only current day's variation margin is reported within the Statement of Assets and Liabilities. |
2 | Statement of Assets and Liabilities location: Unrealized appreciation on forward foreign currency exchange contracts. |
3 | Includes cumulative unrealized depreciation of futures contracts as reported in the Schedule of Portfolio Holdings. Only current day's variation margin is reported within the Statement of Assets and Liabilities. |
4 | Statement of Assets and Liabilities location: Unrealized depreciation on forward foreign currency exchange contracts. |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | ||
Equity Index Futures Contracts | |||
Realized Gains (Losses)1 | $546,273 | $91,709 | |
Change in Unrealized Appreciation (Depreciation)2 | (90,638) | (494,083) | |
Forward Foreign Currency Exchange Contracts | |||
Realized Gains (Losses)1 | $— | $6,581,836 | |
Change in Unrealized Appreciation (Depreciation)2 | — | (3,330,384) |
1 | Statement of Operations location: Net realized gains (losses) on futures contracts and net realized gains (losses) on foreign currency transactions. |
2 | Statement of Operations location: Net change in unrealized appreciation (depreciation) on futures contracts and net change in unrealized appreciation (depreciation) on foreign currency translations. |
Gross Amounts Not Offset in the Statement of Assets & Liabilities | ||||||||
Counterparty | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | Financial Instruments | Cash Collateral Received | Net Amounts(a) | ||||
State Street Bank & Trust Co. | $448,585 | ($62,660) | $— | $385,925 | ||||
Total | $448,585 | ($62,660) | $— | $385,925 | ||||
Counterparty | Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities | Financial Instruments | Cash Collateral Pledged | Net Amounts(b) | ||||
State Street Bank & Trust Co. | ($62,660) | $62,660 | $— | $— | ||||
Total | ($62,660) | $62,660 | $— | $— |
a | Represents the net amount due from the counterparty in the event of default. |
b | Represents the net amount due to the counterparty in the event of default. |
Current Period (11/1/14-10/31/15) | Prior Period (11/1/13-10/31/14) | ||
Laudus Small-Cap MarketMasters Fund | $565 | $384 | |
Laudus International MarketMasters Fund | 10,335 | 6,455 |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | ||
Undistributed ordinary income | $1,923,280 | $24,909,868 | |
Undistributed long-term capital gains | 8,100,917 | 100,978,405 | |
Unrealized appreciation on investments | 23,166,274 | 215,382,452 | |
Unrealized depreciation on investments | (14,897,682) | (116,615,949) | |
Other unrealized appreciation (depreciation) | 1 | (113,022) | |
Net unrealized appreciation (depreciation) | $8,268,593 | $98,653,481 |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | ||
Capital loss carryforwards utilized | $— | $3,821,832 |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | ||
Current period distributions | |||
Ordinary income | $513,285 | $32,797,265 | |
Long-term capital gains | 3,718,541 | — | |
Return of capital | — | — | |
Prior period distributions | |||
Ordinary income | $— | $33,604,108 | |
Long-term capital gains | — | — | |
Return of capital | — | — |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | ||
Capital shares | ($1,041,833) | $— | |
Undistributed net investment income | 2,194,303 | 12,115,706 | |
Net realized capital gains (losses) | (1,152,470) | (12,115,706) |
Laudus Small-Cap MarketMasters Fund
Laudus International MarketMasters Fund
San Francisco, California
December 16, 2015
Percentage | |
Laudus Small-Cap MarketMasters Fund | 59.03 |
Laudus International MarketMasters Fund | — |
Laudus Small-Cap MarketMasters Fund | $513,285 |
Laudus International MarketMasters Fund | 36,954,120 |
Laudus Small-Cap MarketMasters Fund | $3,718,541 |
Laudus International MarketMasters Fund | — |
The Investment Company Act of 1940 (the 1940 Act) requires that initial approval of, as well as the continuation of, a fund’s investment advisory agreements be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreements or “interested persons” of any party (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund’s trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreements.
1. | the nature, extent and quality of the services provided to the Funds under the Agreements, including the resources of CSIM and its affiliates, and the Sub-Advisers, dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other types of accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates, as well as the profitability of the Sub-Advisers; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreements reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 74 | Director, Gilead Sciences, Inc. (2005 – present) |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Private Investor. | 74 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013) | 74 | Director, KLA-Tencor Corporation (2008 – present) |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 95 | None |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 74 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 74 | Board Member and Chairman of the Audit Committee, Isis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Charles R. Schwab2 1937 Chairman and Trustee (Chairman and Trustee of The Charles Schwab Family of Funds since 1989; Schwab Investments since 1991; Schwab Capital Trust since 1993; Schwab Annuity Portfolios since 1994; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman and Director, The Charles Schwab Corporation (1986 – present); Chairman and Director of Charles Schwab & Co., Inc. (1971 – present); Chairman and Director of Charles Schwab Investment Management, Inc. (1989 – present); Chairman and Director of Charles Schwab Bank (2003 – present); Chairman and Chief Executive Officer of Schwab (SIS) Holdings Inc. I and Schwab International Holdings, Inc. (1996 – present); and Director, Chairman and Chief Executive Officer, Schwab Holdings, Inc. (1979 – present). | 74 | Chairman and Director, The Charles Schwab Corporation (1986 – present) Director, Yahoo! Inc. (2014 – present) |
Walter W. Bettinger II2 1960 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (2008 – present); Director, Charles Schwab Bank (2006 – present); and Director, Schwab Holdings, Inc. (2008 – present). | 95 | Director, The Charles Schwab Corporation (2008 – present) |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
George Pereira 1964 Treasurer and Principal Financial Officer, Schwab Funds Treasurer and Chief Financial Officer, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust and Laudus Institutional Trust since 2006) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – present); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – present) and Schwab ETFs (Oct. 2009 – present); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (April 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – April 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (April 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (April 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (April 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2005) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Trustees remain in office until they resign, retire or are removed by shareholder vote. The Schwab and Laudus Funds’ retirement policy requires that independent trustees retire at age 72 or after twenty years as a trustee, whichever comes first. In addition, the retirement policy requires any independent trustee of Schwab Funds or Laudus Funds to retire from all Boards upon their required retirement date from either Board. |
2 | Mr. Schwab and Mr. Bettinger are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Boards. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Laudus Small-Cap MarketMasters Fund™
Laudus Mondrian Emerging Markets Fund
Laudus Mondrian International Government Fixed Income Fund
Laudus Mondrian Global Government Fixed Income Fund
211 Main Street, San Francisco, CA 94105
1-800-435-4000
00156960
Table of Contents
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1 | |
3 | |
5 | |
Performance and Fund Facts | |
6 | |
8 | |
10 | |
12 | |
14 | |
16 | |
18 | |
20 | |
22 | |
24 | |
26 | |
Financial Statements and Portfolio Holdings | |
27 | |
33 | |
39 | |
45 | |
51 | |
57 | |
63 | |
69 | |
75 | |
81 | |
87 | |
107 | |
108 | |
109 | |
111 | |
114 |
Total Return for the 12 Months Ended October 31, 2015 | |
Schwab Target 2010 Fund (Ticker Symbol: SWBRX) | 2.03% |
Target 2010 Composite Index | 2.26% |
Fund Category: Morningstar Target Date 2000-2010 | 0.11% |
Performance Details | pages 6-7 |
Schwab Target 2015 Fund (Ticker Symbol: SWGRX) | 1.99% |
Target 2015 Composite Index | 2.32% |
Fund Category: Morningstar Target Date 2011-2015 | 0.16% |
Performance Details | pages 8-9 |
Schwab Target 2020 Fund (Ticker Symbol: SWCRX) | 2.25% |
Target 2020 Composite Index | 2.58% |
Fund Category: Morningstar Target Date 2016-2020 | 0.21% |
Performance Details | pages 10-11 |
Schwab Target 2025 Fund (Ticker Symbol: SWHRX) | 2.36% |
Target 2025 Composite Index | 2.68% |
Fund Category: Morningstar Target Date 2021-2025 | 0.36% |
Performance Details | pages 12-13 |
Schwab Target 2030 Fund (Ticker Symbol: SWDRX) | 2.44% |
Target 2030 Composite Index | 2.71% |
Fund Category: Morningstar Target Date 2026-2030 | 0.30% |
Performance Details | pages 14-15 |
Total Return for the 12 Months Ended October 31, 2015 | |
Schwab Target 2035 Fund (Ticker Symbol: SWIRX) | 2.43% |
Target 2035 Composite Index | 2.71% |
Fund Category: Morningstar Target Date 2031-2035 | 0.42% |
Performance Details | pages 16-17 |
Schwab Target 2040 Fund (Ticker Symbol: SWERX) | 2.48% |
Target 2040 Composite Index | 2.67% |
Fund Category: Morningstar Target Date 2036-2040 | 0.27% |
Performance Details | pages 18-19 |
Schwab Target 2045 Fund (Ticker Symbol: SWMRX) | 2.37% |
Target 2045 Composite Index | 2.64% |
Fund Category: Morningstar Target Date 2041-2045 | 0.45% |
Performance Details | pages 20-21 |
Schwab Target 2050 Fund (Ticker Symbol: SWNRX) | 2.44% |
Target 2050 Composite Index | 2.61% |
Fund Category: Morningstar Target Date 2046-2050 | 0.36% |
Performance Details | pages 22-23 |
Schwab Target 2055 Fund (Ticker Symbol: SWORX) | 2.36% |
Target 2055 Composite Index | 2.58% |
Fund Category: Morningstar Target Date 2051+ | 0.85% |
Performance Details | pages 24-25 |
Minimum Initial Investment1 | $100 |
1 | Please see the funds' prospectus for further detail and eligibility requirements. |
1 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Zifan Tang, Ph.D., CFA, Managing Director and Head of Asset Allocation Strategies, leads the portfolio management team and has overall responsibility for all aspects of the management of the funds. She was appointed portfolio manager of the funds in February 2012. Prior to joining CSIM in 2012, Ms. Tang was a product manager at Thomson Reuters and, from 1997 to 2009, worked as a portfolio manager at Barclays Global Investors, which was subsequently acquired by BlackRock. |
Statistics | |
Number of Holdings | 22 |
Portfolio Turnover Rate | 33% |
Asset Class Weightings % of Investments1 | |
Fixed-Income Funds – Intermediate-Term Bond | 38.6% |
Equity Funds – Large-Cap | 25.4% |
Fixed-Income Funds – Short-Term Bond | 9.4% |
Equity Funds – International | 8.9% |
Fixed-Income Funds – Inflation-Protected Bond | 6.2% |
Money Market Fund | 3.8% |
Short-Term Investments | 2.5% |
Equity Funds – Small-Cap | 2.6% |
Equity Funds – Global Real Estate | 2.0% |
Fixed-Income Funds – International Bond | 0.6% |
Total | 100.0% |
Top Holdings % of Net Assets2,3 | |
Schwab Total Bond Market Fund | 23.2% |
Schwab Short-Term Bond Market Fund | 9.3% |
Metropolitan West Total Return Bond Fund, Class I | 9.3% |
Schwab Core Equity Fund | 7.0% |
Laudus U.S. Large Cap Growth Fund | 6.3% |
Schwab Treasury Inflation Protected Securities Index Fund | 6.2% |
Schwab S&P 500 Index Fund | 5.7% |
Laudus International MarketMasters Fund, Select Shares | 5.3% |
Wells Fargo Advantage Core Bond Fund, Class I | 4.8% |
Schwab Value Advantage Money Fund, Ultra Shares | 3.8% |
Total | 80.9% |
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2010 Fund (7/1/05) | 2.03% | 5.99% | 4.51% |
Target 2010 Composite Index | 2.26% | 5.96% | 5.41% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.11% | 8.07% |
Barclays U.S. Aggregate Bond Index | 1.96% | 3.03% | 4.72% |
Fund Category: Morningstar Target Date 2000-2010 | 0.11% | 5.14% | 4.16% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.50%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 23 |
Portfolio Turnover Rate | 33% |
Asset Class Weightings % of Investments1 | |
Fixed-Income Funds – Intermediate-Term Bond | 37.5% |
Equity Funds – Large-Cap | 26.6% |
Equity Funds – International | 9.4% |
Fixed-Income Funds – Short-Term Bond | 9.0% |
Fixed-Income Funds – Inflation-Protected Bond | 6.0% |
Short-Term Investments | 3.7% |
Equity Funds – Small-Cap | 2.7% |
Money Market Fund | 2.3% |
Equity Funds – Global Real Estate | 2.1% |
Fixed-Income Funds – International Bond | 0.7% |
Total | 100.0% |
Top Holdings % of Net Assets2,3 | |
Schwab Total Bond Market Fund | 22.3% |
Metropolitan West Total Return Bond Fund, Class I | 9.3% |
Schwab Short-Term Bond Market Fund | 9.0% |
Schwab Core Equity Fund | 7.4% |
Laudus U.S. Large Cap Growth Fund | 6.6% |
Schwab S&P 500 Index Fund | 6.0% |
Schwab Treasury Inflation Protected Securities Index Fund | 6.0% |
Laudus International MarketMasters Fund, Select Shares | 5.6% |
Wells Fargo Advantage Core Bond Fund, Class I | 4.5% |
Schwab International Core Equity Fund | 3.7% |
Total | 80.4% |
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Target 2015 Fund (3/12/08) | 1.99% | 6.77% | 5.09% |
Target 2015 Composite Index | 2.32% | 6.70% | 5.09% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.11% | 8.72% |
Barclays U.S. Aggregate Bond Index | 1.96% | 3.03% | 4.44% |
Fund Category: Morningstar Target Date 2011-2015 | 0.16% | 5.71% | 4.24% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.53%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 24 |
Portfolio Turnover Rate | 25% |
Asset Class Weightings % of Investments1 | |
Equity Funds – Large-Cap | 34.8% |
Fixed-Income Funds – Intermediate-Term Bond | 31.9% |
Equity Funds – International | 13.7% |
Fixed-Income Funds – Short-Term Bond | 5.3% |
Equity Funds – Small-Cap | 3.8% |
Short-Term Investments | 2.8% |
Equity Funds – Global Real Estate | 2.8% |
Fixed-Income Funds – Inflation-Protected Bond | 2.3% |
Fixed-Income Funds – International Bond | 1.1% |
Money Market Fund | 1.5% |
Total | 100.0% |
Top Holdings % of Net Assets2,3 | |
Schwab Total Bond Market Fund | 16.9% |
Schwab Core Equity Fund | 9.7% |
Metropolitan West Total Return Bond Fund, Class I | 8.8% |
Laudus U.S. Large Cap Growth Fund | 8.6% |
Laudus International MarketMasters Fund, Select Shares | 8.1% |
Schwab S&P 500 Index Fund | 7.9% |
Schwab International Core Equity Fund | 5.4% |
Schwab Short-Term Bond Market Fund | 5.3% |
Schwab Dividend Equity Fund | 4.3% |
TCW Relative Value Large Cap Fund, Class I | 3.4% |
Total | 78.4% |
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2020 Fund (7/1/05) | 2.25% | 7.98% | 5.77% |
Target 2020 Composite Index | 2.58% | 7.94% | 6.24% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.11% | 8.07% |
Barclays U.S. Aggregate Bond Index | 1.96% | 3.03% | 4.72% |
Fund Category: Morningstar Target Date 2016-2020 | 0.21% | 6.02% | 4.59% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.61%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 24 |
Portfolio Turnover Rate | 21% |
Asset Class Weightings % of Investments1 | |
Equity Funds – Large-Cap | 40.6% |
Fixed-Income Funds – Intermediate-Term Bond | 26.2% |
Equity Funds – International | 16.9% |
Equity Funds – Small-Cap | 4.8% |
Equity Funds – Global Real Estate | 3.4% |
Short-Term Investments | 3.4% |
Fixed-Income Funds – Short-Term Bond | 3.1% |
Fixed-Income Funds – International Bond | 1.1% |
Fixed-Income Funds – Inflation-Protected Bond | 0.5% |
Total | 100.0% |
Top Holdings % of Net Assets2,3 | |
Schwab Total Bond Market Fund | 12.7% |
Schwab Core Equity Fund | 11.2% |
Laudus U.S. Large Cap Growth Fund | 10.1% |
Laudus International MarketMasters Fund, Select Shares | 9.6% |
Schwab S&P 500 Index Fund | 9.2% |
Metropolitan West Total Return Bond Fund, Class I | 7.5% |
Schwab International Core Equity Fund | 6.5% |
Schwab Dividend Equity Fund | 5.1% |
TCW Relative Value Large Cap Fund, Class I | 4.0% |
Schwab Global Real Estate Fund | 3.4% |
Total | 79.3% |
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Target 2025 Fund (3/12/08) | 2.36% | 8.85% | 6.82% |
Target 2025 Composite Index | 2.68% | 8.76% | 6.22% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.11% | 8.72% |
Barclays U.S. Aggregate Bond Index | 1.96% | 3.03% | 4.44% |
Fund Category: Morningstar Target Date 2021-2025 | 0.36% | 7.35% | 4.94% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.67%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 22 |
Portfolio Turnover Rate | 19% |
Asset Class Weightings % of Investments1 | |
Equity Funds – Large-Cap | 44.7% |
Fixed-Income Funds – Intermediate-Term Bond | 20.7% |
Equity Funds – International | 19.5% |
Equity Funds – Small-Cap | 5.8% |
Equity Funds – Global Real Estate | 3.8% |
Short-Term Investments | 2.8% |
Fixed-Income Funds – Short-Term Bond | 1.8% |
Fixed-Income Funds – International Bond | 0.9% |
Total | 100.0% |
Top Holdings % of Net Assets2,3 | |
Schwab Core Equity Fund | 12.4% |
Laudus U.S. Large Cap Growth Fund | 11.1% |
Laudus International MarketMasters Fund, Select Shares | 10.9% |
Schwab S&P 500 Index Fund | 10.1% |
Schwab Total Bond Market Fund | 9.3% |
Schwab International Core Equity Fund | 7.2% |
Metropolitan West Total Return Bond Fund, Class I | 6.0% |
Schwab Dividend Equity Fund | 5.6% |
TCW Relative Value Large Cap Fund, Class I | 4.4% |
Schwab Small-Cap Equity Fund | 3.8% |
Total | 80.8% |
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2030 Fund (7/1/05) | 2.44% | 9.42% | 6.56% |
Target 2030 Composite Index | 2.71% | 9.38% | 6.78% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.11% | 8.07% |
Barclays U.S. Aggregate Bond Index | 1.96% | 3.03% | 4.72% |
Fund Category: Morningstar Target Date 2026-2030 | 0.30% | 7.24% | 4.94% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.72%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 22 |
Portfolio Turnover Rate | 14% |
Asset Class Weightings % of Investments1 | |
Equity Funds – Large-Cap | 48.0% |
Equity Funds – International | 21.7% |
Fixed-Income Funds – Intermediate-Term Bond | 15.3% |
Equity Funds – Small-Cap | 6.8% |
Equity Funds – Global Real Estate | 4.2% |
Short-Term Investments | 2.4% |
Fixed-Income Funds – Short-Term Bond | 0.9% |
Fixed-Income Funds – International Bond | 0.7% |
Total | 100.0% |
Top Holdings % of Net Assets2,3 | |
Schwab Core Equity Fund | 13.3% |
Laudus U.S. Large Cap Growth Fund | 12.0% |
Laudus International MarketMasters Fund, Select Shares | 11.9% |
Schwab S&P 500 Index Fund | 10.8% |
Schwab International Core Equity Fund | 7.9% |
Schwab Total Bond Market Fund | 6.4% |
Schwab Dividend Equity Fund | 5.9% |
TCW Relative Value Large Cap Fund, Class I | 4.8% |
Schwab Small-Cap Equity Fund | 4.4% |
Metropolitan West Total Return Bond Fund, Class I | 4.4% |
Total | 81.8% |
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Target 2035 Fund (3/12/08) | 2.43% | 10.03% | 7.36% |
Target 2035 Composite Index | 2.71% | 9.96% | 6.73% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.11% | 8.72% |
Barclays U.S. Aggregate Bond Index | 1.96% | 3.03% | 4.44% |
Fund Category: Morningstar Target Date 2031-2035 | 0.42% | 8.37% | 5.28% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.75%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 22 |
Portfolio Turnover Rate | 13% |
Asset Class Weightings % of Investments1 | |
Equity Funds – Large-Cap | 50.7% |
Equity Funds – International | 23.9% |
Fixed-Income Funds – Intermediate-Term Bond | 10.0% |
Equity Funds – Small-Cap | 7.9% |
Equity Funds – Global Real Estate | 4.5% |
Short-Term Investments | 2.2% |
Fixed-Income Funds – Short-Term Bond | 0.4% |
Fixed-Income Funds – International Bond | 0.4% |
Total | 100.0% |
Top Holdings % of Net Assets2,3 | |
Schwab Core Equity Fund | 14.1% |
Laudus International MarketMasters Fund, Select Shares | 12.9% |
Laudus U.S. Large Cap Growth Fund | 12.7% |
Schwab S&P 500 Index Fund | 11.5% |
Schwab International Core Equity Fund | 8.6% |
Schwab Dividend Equity Fund | 6.2% |
Schwab Small-Cap Equity Fund | 5.2% |
TCW Relative Value Large Cap Fund, Class I | 5.1% |
Schwab Global Real Estate Fund | 4.5% |
Schwab Total Bond Market Fund | 3.8% |
Total | 84.6% |
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2040 Fund (7/1/05) | 2.48% | 10.45% | 7.05% |
Target 2040 Composite Index | 2.67% | 10.35% | 7.12% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.11% | 8.07% |
Barclays U.S. Aggregate Bond Index | 1.96% | 3.03% | 4.72% |
Fund Category: Morningstar Target Date 2036-2040 | 0.27% | 7.94% | 5.22% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.78%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 21 |
Portfolio Turnover Rate | 10% |
Asset Class Weightings % of Investments1 | |
Equity Funds – Large-Cap | 52.3% |
Equity Funds – International | 25.2% |
Equity Funds – Small-Cap | 8.7% |
Fixed-Income Funds – Intermediate-Term Bond | 6.9% |
Equity Funds – Global Real Estate | 4.6% |
Short-Term Investments | 1.9% |
Fixed-Income Funds – Short-Term Bond | 0.2% |
Fixed-Income Funds – International Bond | 0.2% |
Total | 100.0% |
Top Holdings % of Net Assets2,3 | |
Schwab Core Equity Fund | 14.5% |
Laudus International MarketMasters Fund, Select Shares | 13.4% |
Laudus U.S. Large Cap Growth Fund | 13.0% |
Schwab S&P 500 Index Fund | 11.8% |
Schwab International Core Equity Fund | 8.9% |
Schwab Dividend Equity Fund | 6.4% |
Schwab Small-Cap Equity Fund | 5.7% |
TCW Relative Value Large Cap Fund, Class I | 5.2% |
Schwab Global Real Estate Fund | 4.6% |
Laudus Small-Cap MarketMasters Fund, Select Shares | 3.0% |
Total | 86.5% |
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | Since Inception |
Fund: Schwab Target 2045 Fund (1/23/13) | 2.37% | 10.43% |
Target 2045 Composite Index | 2.64% | 10.60% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.55% |
Barclays U.S. Aggregate Bond Index | 1.96% | 1.84% |
Fund Category: Morningstar Target Date 2041-2045 | 0.45% | 8.25% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.80%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 21 |
Portfolio Turnover Rate | 8% |
Asset Class Weightings % of Investments1 | |
Equity Funds – Large-Cap | 53.1% |
Equity Funds – International | 26.1% |
Equity Funds – Small-Cap | 9.2% |
Equity Funds – Global Real Estate | 4.8% |
Fixed-Income Funds – Intermediate-Term Bond | 4.6% |
Short-Term Investments | 2.0% |
Fixed-Income Funds – International Bond | 0.1% |
Fixed-Income Funds – Short-Term Bond | 0.1% |
Total | 100.0% |
Top Holdings % of Net Assets2,3 | |
Schwab Core Equity Fund | 14.7% |
Laudus International MarketMasters Fund, Select Shares | 13.8% |
Laudus U.S. Large Cap Growth Fund | 13.2% |
Schwab S&P 500 Index Fund | 12.0% |
Schwab International Core Equity Fund | 9.2% |
Schwab Dividend Equity Fund | 6.6% |
Schwab Small-Cap Equity Fund | 6.0% |
TCW Relative Value Large Cap Fund, Class I | 5.3% |
Schwab Global Real Estate Fund | 4.8% |
Laudus Small-Cap MarketMasters Fund, Select Shares | 3.2% |
Total | 88.8% |
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | Since Inception |
Fund: Schwab Target 2050 Fund (1/23/13) | 2.44% | 10.71% |
Target 2050 Composite Index | 2.61% | 10.83% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.55% |
Barclays U.S. Aggregate Bond Index | 1.96% | 1.84% |
Fund Category: Morningstar Target Date 2046-2050 | 0.36% | 7.99% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.81%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 20 |
Portfolio Turnover Rate | 8% |
Asset Class Weightings % of Investments1 | |
Equity Funds – Large-Cap | 54.0% |
Equity Funds – International | 27.0% |
Equity Funds – Small-Cap | 9.8% |
Equity Funds – Global Real Estate | 4.9% |
Fixed-Income Funds – Intermediate-Term Bond | 2.2% |
Short-Term Investments | 2.0% |
Fixed-Income Funds – International Bond | 0.1% |
Total | 100.0% |
Top Holdings % of Net Assets2,3 | |
Schwab Core Equity Fund | 15.0% |
Laudus International MarketMasters Fund, Select Shares | 14.2% |
Laudus U.S. Large Cap Growth Fund | 13.4% |
Schwab S&P 500 Index Fund | 12.2% |
Schwab International Core Equity Fund | 9.4% |
Schwab Dividend Equity Fund | 6.6% |
Schwab Small-Cap Equity Fund | 6.4% |
TCW Relative Value Large Cap Fund, Class I | 5.4% |
Schwab Global Real Estate Fund | 4.9% |
Laudus Small-Cap MarketMasters Fund, Select Shares | 3.4% |
Total | 90.9% |
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | Since Inception |
Fund: Schwab Target 2055 Fund (1/23/13) | 2.36% | 10.80% |
Target 2055 Composite Index | 2.58% | 10.96% |
Dow Jones U.S. Total Stock Market IndexSM | 4.40% | 14.55% |
Barclays U.S. Aggregate Bond Index | 1.96% | 1.84% |
Fund Category: Morningstar Target Date 2051+ | 0.85% | 8.77% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.82%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio1 (Annualized) | Beginning Account Value at 5/1/15 | Ending Account Value (Net of Expenses) at 10/31/15 | Expenses Paid During Period2 5/1/15–10/31/15 | ||
Schwab Target 2010 Fund | |||||
Actual Return | 0.00% | $1,000.00 | $ 992.00 | $0.00 | |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 | |
Schwab Target 2015 Fund | |||||
Actual Return | 0.00% | $1,000.00 | $ 991.10 | $0.00 | |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 | |
Schwab Target 2020 Fund | |||||
Actual Return | 0.00% | $1,000.00 | $ 989.00 | $0.00 | |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 | |
Schwab Target 2025 Fund | |||||
Actual Return | 0.00% | $1,000.00 | $ 986.00 | $0.00 | |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 | |
Schwab Target 2030 Fund | |||||
Actual Return | 0.00% | $1,000.00 | $ 984.20 | $0.00 | |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 | |
Schwab Target 2035 Fund | |||||
Actual Return | 0.00% | $1,000.00 | $ 982.00 | $0.00 | |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 | |
Schwab Target 2040 Fund | |||||
Actual Return | 0.00% | $1,000.00 | $ 980.30 | $0.00 | |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 | |
Schwab Target 2045 Fund | |||||
Actual Return | 0.00% | $1,000.00 | $ 978.90 | $0.00 | |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 | |
Schwab Target 2050 Fund | |||||
Actual Return | 0.00% | $1,000.00 | $ 977.50 | $0.00 | |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 | |
Schwab Target 2055 Fund | |||||
Actual Return | 0.01% | $1,000.00 | $ 976.80 | $0.05 | |
Hypothetical 5% Return | 0.01% | $1,000.00 | $1,025.15 | $0.05 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12-month period. The expenses incurred by the underlying funds in which the funds invest are not included in this ratio. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 365 days of the fiscal year. |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.42 | $11.91 | $11.10 | $10.56 | $10.34 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.17 1 | 0.19 | 0.21 | 0.22 | 0.23 | |
Net realized and unrealized gains (losses) | 0.08 | 0.52 | 0.85 | 0.57 | 0.24 | |
Total from investment operations | 0.25 | 0.71 | 1.06 | 0.79 | 0.47 | |
Less distributions: | ||||||
Distributions from net investment income | (0.25) | (0.20) | (0.25) | (0.25) | (0.25) | |
Net asset value at end of period | $12.42 | $12.42 | $11.91 | $11.10 | $10.56 | |
Total return | 2.03% | 6.08% | 9.74% | 7.63% | 4.63% 2 | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses3 | 0.00% 4 | — | — | — | — | |
Gross operating expenses3 | 0.14% | 0.17% | 0.18% | 0.18% | 0.14% | |
Net investment income (loss) | 1.40% | 1.53% | 1.77% | 1.95% | 2.11% | |
Portfolio turnover rate | 33% | 29% | 26% | 13% | 11% | |
Net assets, end of period (x 1,000,000) | $65 | $64 | $61 | $60 | $64 | |
Holdings by Category | Cost ($) | Value ($) | |
97.3% | Other Investment Companies | 55,366,286 | 62,781,929 |
2.5% | Short-Term Investments | 1,592,760 | 1,592,760 |
99.8% | Total Investments | 56,959,046 | 64,374,689 |
0.2% | Other Assets and Liabilities, Net | 136,515 | |
100.0% | Net Assets | 64,511,204 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.3% of net assets | ||
Equity Funds 38.8% | ||
Global Real Estate 2.0% | ||
Schwab Global Real Estate Fund (a) | 185,350 | 1,315,988 |
International 8.9% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 149,571 | 3,396,762 |
Schwab International Core Equity Fund (a) | 240,100 | 2,309,762 |
5,706,524 | ||
Large-Cap 25.3% | ||
Dodge & Cox Stock Fund | 2,293 | 401,380 |
Laudus U.S. Large Cap Growth Fund *(a) | 228,536 | 4,051,943 |
Schwab Core Equity Fund (a) | 196,100 | 4,529,915 |
Schwab Dividend Equity Fund (a) | 124,102 | 2,039,001 |
Schwab S&P 500 Index Fund (a) | 112,086 | 3,698,851 |
TCW Relative Value Large Cap Fund, Class I | 73,568 | 1,617,759 |
16,338,849 | ||
Small-Cap 2.6% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 31,799 | 563,792 |
Schwab Small-Cap Equity Fund (a) | 50,734 | 1,075,049 |
1,638,841 | ||
25,000,202 | ||
Fixed-Income Funds 54.7% | ||
Inflation-Protected Bond 6.2% | ||
Schwab Treasury Inflation Protected Securities Index Fund (a) | 366,390 | 3,997,317 |
Security | Number of Shares | Value ($) |
Intermediate-Term Bond 38.6% | ||
Metropolitan West Total Return Bond Fund, Class I | 557,091 | 6,027,720 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 68,442 | 774,760 |
Schwab Total Bond Market Fund (a) | 1,578,072 | 14,975,903 |
Wells Fargo Advantage Core Bond Fund, Class I | 243,534 | 3,105,057 |
24,883,440 | ||
International Bond 0.6% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 41,044 | 385,816 |
Short-Term Bond 9.3% | ||
Schwab Short-Term Bond Market Fund (a) | 650,054 | 6,045,504 |
35,312,077 | ||
Money Market Fund 3.8% | ||
Schwab Value Advantage Money Fund, Ultra Shares 0.11% (a)(b) | 2,469,650 | 2,469,650 |
Total Other Investment Companies | ||
(Cost $55,366,286) | 62,781,929 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.5% of net assets | ||
Time Deposits 2.5% | ||
Barclays Capital, Inc. | ||
0.03%, 11/02/15 | 303,556 | 303,556 |
JPMorgan Chase Bank | ||
0.03%, 11/02/15 | 644,602 | 644,602 |
Sumitomo Mitsui Banking Corp. | ||
0.03%, 11/02/15 | 644,602 | 644,602 |
Total Short-Term Investments | ||
(Cost $1,592,760) | 1,592,760 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $62,781,929 | $— | $— | $62,781,929 | |||||
Short-Term Investments1 | — | 1,592,760 | — | 1,592,760 | |||||
Total | $62,781,929 | $1,592,760 | $— | $64,374,689 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $44,016,924) | $50,855,253 | |
Investments in unaffiliated issuers, at value (cost $12,942,122) | + | 13,519,436 |
Total investments, at value (cost $56,959,046) | 64,374,689 | |
Receivables: | ||
Investments sold | 590,000 | |
Fund shares sold | 91,591 | |
Dividends | 46,592 | |
Due from investment adviser | 907 | |
Prepaid expenses | + | 11,441 |
Total assets | 65,115,220 | |
Liabilities | ||
Payables: | ||
Investments bought | 577,595 | |
Fund shares redeemed | 2,200 | |
Accrued expenses | + | 24,221 |
Total liabilities | 604,016 | |
Net Assets | ||
Total assets | 65,115,220 | |
Total liabilities | – | 604,016 |
Net assets | $64,511,204 | |
Net Assets by Source | ||
Capital received from investors | 66,596,907 | |
Net investment income not yet distributed | 518,547 | |
Net realized capital losses | (10,019,893) | |
Net unrealized capital appreciation | 7,415,643 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$64,511,204 | 5,194,590 | $12.42 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $741,591 | |
Dividends received from unaffiliated underlying funds | 174,752 | |
Interest | + | 627 |
Total investment income | 916,970 | |
Expenses | ||
Professional fees | 28,420 | |
Transfer agent fees | 22,673 | |
Registration fees | 9,126 | |
Shareholder reports | 8,477 | |
Portfolio accounting fees | 7,432 | |
Independent trustees' fees | 7,140 | |
Custodian fees | 4,258 | |
Proxy fees | 544 | |
Other expenses | + | 3,138 |
Total expenses | 91,208 | |
Expense reduction by CSIM | – | 90,664 |
Net expenses | – | 544 |
Net investment income | 916,426 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,919,912 | |
Realized capital gain distributions received from unaffiliated underlying funds | 25,837 | |
Net realized gains on sales of affiliated underlying funds | 1,017,543 | |
Net realized gains on sales of unaffiliated underlying funds | + | 201,704 |
Net realized gains | 3,164,996 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (2,374,672) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (381,802) |
Net change in unrealized appreciation (depreciation) | + | (2,756,474) |
Net realized and unrealized gains | 408,522 | |
Increase in net assets resulting from operations | $1,324,948 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $916,426 | $947,578 | |
Net realized gains | 3,164,996 | 4,161,004 | |
Net change in unrealized appreciation (depreciation) | + | (2,756,474) | (1,521,551) |
Increase in net assets from operations | 1,324,948 | 3,587,031 | |
Distributions to Shareholders | |||
Distributions from net investment income | ($1,277,875) | ($1,036,165) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 1,228,160 | $15,228,571 | 955,289 | $11,575,490 | |
Shares reinvested | 97,175 | 1,194,285 | 81,616 | 967,148 | |
Shares redeemed | + | (1,267,254) | (15,735,627) | (1,041,619) | (12,568,302) |
Net transactions in fund shares | 58,081 | $687,229 | (4,714) | ($25,664) | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 5,136,509 | $63,776,902 | 5,141,223 | $61,251,700 | |
Total increase or decrease | + | 58,081 | 734,302 | (4,714) | 2,525,202 |
End of period | 5,194,590 | $64,511,204 | 5,136,509 | $63,776,902 | |
Net investment income not yet distributed | $518,547 | $604,856 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.81 | $12.22 | $11.13 | $10.48 | $10.16 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.17 1 | 0.19 | 0.20 | 0.20 | 0.19 | |
Net realized and unrealized gains (losses) | 0.08 | 0.60 | 1.12 | 0.66 | 0.32 | |
Total from investment operations | 0.25 | 0.79 | 1.32 | 0.86 | 0.51 | |
Less distributions: | ||||||
Distributions from net investment income | (0.27) | (0.20) | (0.23) | (0.21) | (0.19) | |
Distributions from net realized gains | (0.56) | — | — | — | — | |
Total distributions | (0.83) | (0.20) | (0.23) | (0.21) | (0.19) | |
Net asset value at end of period | $12.23 | $12.81 | $12.22 | $11.13 | $10.48 | |
Total return | 1.99% | 6.56% | 12.06% | 8.41% | 5.10% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | — | — | — | — | |
Gross operating expenses2 | 0.09% | 0.11% | 0.14% | 0.19% | 0.22% | |
Net investment income (loss) | 1.42% | 1.52% | 1.72% | 1.85% | 1.94% | |
Portfolio turnover rate | 33% | 32% | 16% | 13% | 16% | |
Net assets, end of period (x 1,000,000) | $116 | $111 | $94 | $70 | $53 | |
Holdings by Category | Cost ($) | Value ($) | |
96.1% | Other Investment Companies | 100,921,651 | 111,035,609 |
3.7% | Short-Term Investments | 4,264,992 | 4,264,992 |
99.8% | Total Investments | 105,186,643 | 115,300,601 |
0.2% | Other Assets and Liabilities, Net | 232,627 | |
100.0% | Net Assets | 115,533,228 |
Security | Number of Shares | Value ($) |
Other Investment Companies 96.1% of net assets | ||
Equity Funds 40.7% | ||
Global Real Estate 2.1% | ||
Schwab Global Real Estate Fund (a) | 345,116 | 2,450,327 |
International 9.3% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 285,863 | 6,491,944 |
Schwab International Core Equity Fund (a) | 445,723 | 4,287,851 |
10,779,795 | ||
Large-Cap 26.6% | ||
Dodge & Cox Stock Fund | 4,344 | 760,360 |
Laudus U.S. Large Cap Growth Fund *(a) | 429,420 | 7,613,623 |
Schwab Core Equity Fund (a) | 369,878 | 8,544,187 |
Schwab Dividend Equity Fund (a) | 230,740 | 3,791,065 |
Schwab S&P 500 Index Fund (a) | 210,352 | 6,941,614 |
TCW Relative Value Large Cap Fund, Class I | 138,108 | 3,036,997 |
30,687,846 | ||
Small-Cap 2.7% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 59,796 | 1,060,183 |
Schwab Small-Cap Equity Fund (a) | 94,786 | 2,008,519 |
3,068,702 | ||
46,986,670 | ||
Fixed-Income Funds 53.1% | ||
Inflation-Protected Bond 6.0% | ||
Schwab Treasury Inflation Protected Securities Index Fund (a) | 636,258 | 6,941,578 |
Security | Number of Shares | Value ($) |
Intermediate-Term Bond 37.4% | ||
Metropolitan West Total Return Bond Fund, Class I | 991,258 | 10,725,412 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 137,437 | 1,555,792 |
Schwab Total Bond Market Fund (a) | 2,715,881 | 25,773,712 |
Wells Fargo Advantage Core Bond Fund, Class I | 406,268 | 5,179,920 |
43,234,836 | ||
International Bond 0.7% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 86,086 | 809,206 |
Short-Term Bond 9.0% | ||
Schwab Short-Term Bond Market Fund (a) | 1,115,060 | 10,370,055 |
61,355,675 | ||
Money Market Fund 2.3% | ||
Schwab Value Advantage Money Fund, Ultra Shares 0.11% (a)(b) | 2,693,264 | 2,693,264 |
Total Other Investment Companies | ||
(Cost $100,921,651) | 111,035,609 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 3.7% of net assets | ||
Time Deposits 3.7% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.03%, 11/02/15 | 1,158,434 | 1,158,434 |
DNB | ||
0.03%, 11/02/15 | 1,158,434 | 1,158,434 |
Nordea Bank | ||
0.03%, 11/02/15 | 1,158,434 | 1,158,434 |
Wells Fargo | ||
0.03%, 11/02/15 | 789,690 | 789,690 |
Total Short-Term Investments | ||
(Cost $4,264,992) | 4,264,992 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $111,035,609 | $— | $— | $111,035,609 | |||||
Short-Term Investments1 | — | 4,264,992 | — | 4,264,992 | |||||
Total | $111,035,609 | $4,264,992 | $— | $115,300,601 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $80,499,588) | $89,777,128 | |
Investments in unaffiliated issuers, at value (cost $24,687,055) | + | 25,523,473 |
Total investments, at value (cost $105,186,643) | 115,300,601 | |
Receivables: | ||
Investments sold | 1,330,000 | |
Fund shares sold | 118,073 | |
Dividends | 78,664 | |
Due from investment adviser | 1,161 | |
Prepaid expenses | + | 5,224 |
Total assets | 116,833,723 | |
Liabilities | ||
Payables: | ||
Investments bought | 1,140,470 | |
Fund shares redeemed | 133,178 | |
Accrued expenses | + | 26,847 |
Total liabilities | 1,300,495 | |
Net Assets | ||
Total assets | 116,833,723 | |
Total liabilities | – | 1,300,495 |
Net assets | $115,533,228 | |
Net Assets by Source | ||
Capital received from investors | 99,540,689 | |
Net investment income not yet distributed | 775,782 | |
Net realized capital gains | 5,102,799 | |
Net unrealized capital appreciation | 10,113,958 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$115,533,228 | 9,447,150 | $12.23 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $1,313,263 | |
Dividends received from unaffiliated underlying funds | 310,059 | |
Interest | + | 1,206 |
Total investment income | 1,624,528 | |
Expenses | ||
Professional fees | 28,766 | |
Transfer agent fees | 23,494 | |
Registration fees | 18,451 | |
Shareholder reports | 10,287 | |
Portfolio accounting fees | 8,299 | |
Independent trustees' fees | 7,374 | |
Custodian fees | 4,944 | |
Proxy fees | 792 | |
Other expenses | + | 2,981 |
Total expenses | 105,388 | |
Expense reduction by CSIM | – | 104,596 |
Net expenses | – | 792 |
Net investment income | 1,623,736 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 3,737,877 | |
Realized capital gain distributions received from unaffiliated underlying funds | 50,968 | |
Net realized gains on sales of affiliated underlying funds | 1,944,104 | |
Net realized gains on sales of unaffiliated underlying funds | + | 356,000 |
Net realized gains | 6,088,949 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (4,798,461) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (723,842) |
Net change in unrealized appreciation (depreciation) | + | (5,522,303) |
Net realized and unrealized gains | 566,646 | |
Increase in net assets resulting from operations | $2,190,382 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $1,623,736 | $1,599,816 | |
Net realized gains | 6,088,949 | 5,236,905 | |
Net change in unrealized appreciation (depreciation) | + | (5,522,303) | (281,221) |
Increase in net assets from operations | 2,190,382 | 6,555,500 | |
Distributions to Shareholders | |||
Distributions from net investment income | (2,377,309) | (1,610,833) | |
Distributions from net realized gains | + | (4,869,324) | — |
Total distributions | ($7,246,633) | ($1,610,833) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 3,086,913 | $37,992,475 | 3,043,782 | $37,901,842 | |
Shares reinvested | 564,457 | 6,841,214 | 125,055 | 1,526,926 | |
Shares redeemed | + | (2,879,374) | (35,347,201) | (2,202,942) | (27,468,032) |
Net transactions in fund shares | 771,996 | $9,486,488 | 965,895 | $11,960,736 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 8,675,154 | $111,102,991 | 7,709,259 | $94,197,588 | |
Total increase | + | 771,996 | 4,430,237 | 965,895 | 16,905,403 |
End of period | 9,447,150 | $115,533,228 | 8,675,154 | $111,102,991 | |
Net investment income not yet distributed | $775,782 | $990,271 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $14.32 | $13.52 | $11.94 | $11.13 | $10.80 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.20 1 | 0.21 | 0.22 | 0.22 | 0.22 | |
Net realized and unrealized gains (losses) | 0.12 | 0.82 | 1.62 | 0.82 | 0.34 | |
Total from investment operations | 0.32 | 1.03 | 1.84 | 1.04 | 0.56 | |
Less distributions: | ||||||
Distributions from net investment income | (0.31) | (0.23) | (0.26) | (0.23) | (0.23) | |
Net asset value at end of period | $14.33 | $14.32 | $13.52 | $11.94 | $11.13 | |
Total return | 2.25% | 7.71% | 15.72% | 9.52% | 5.18% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | — | — | — | 0.00% 3 | |
Gross operating expenses2 | 0.03% | 0.04% | 0.05% | 0.06% | 0.06% | |
Net investment income (loss) | 1.42% | 1.48% | 1.71% | 1.89% | 1.92% | |
Portfolio turnover rate | 25% | 26% | 14% | 13% | 15% | |
Net assets, end of period (x 1,000,000) | $536 | $499 | $415 | $306 | $273 | |
Holdings by Category | Cost ($) | Value ($) | |
97.1% | Other Investment Companies | 453,786,929 | 521,173,514 |
2.8% | Short-Term Investments | 14,851,856 | 14,851,856 |
99.9% | Total Investments | 468,638,785 | 536,025,370 |
0.1% | Other Assets and Liabilities, Net | 354,903 | |
100.0% | Net Assets | 536,380,273 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.1% of net assets | ||
Equity Funds 55.1% | ||
Global Real Estate 2.8% | ||
Schwab Global Real Estate Fund (a) | 2,135,735 | 15,163,716 |
International 13.7% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 1,903,619 | 43,231,176 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 203,973 | 1,444,131 |
Schwab International Core Equity Fund (a) | 3,003,249 | 28,891,254 |
73,566,561 | ||
Large-Cap 34.8% | ||
Dodge & Cox Stock Fund | 26,368 | 4,615,471 |
Laudus U.S. Large Cap Growth Fund *(a) | 2,612,903 | 46,326,768 |
Schwab Core Equity Fund (a) | 2,240,843 | 51,763,488 |
Schwab Dividend Equity Fund (a) | 1,404,942 | 23,083,194 |
Schwab S&P 500 Index Fund (a) | 1,276,154 | 42,113,088 |
TCW Relative Value Large Cap Fund, Class I | 841,385 | 18,502,054 |
186,404,063 | ||
Small-Cap 3.8% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 404,664 | 7,174,692 |
Schwab Small-Cap Equity Fund (a) | 625,696 | 13,258,509 |
20,433,201 | ||
295,567,541 |
Security | Number of Shares | Value ($) |
Fixed-Income Funds 40.5% | ||
Inflation-Protected Bond 2.3% | ||
Schwab Treasury Inflation Protected Securities Index Fund (a) | 1,142,741 | 12,467,301 |
Intermediate-Term Bond 31.8% | ||
Metropolitan West Total Return Bond Fund, Class I | 4,357,339 | 47,146,409 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 1,204,335 | 13,633,074 |
Schwab Intermediate-Term Bond Fund (a) | 467,601 | 4,774,201 |
Schwab Total Bond Market Fund (a) | 9,568,667 | 90,806,651 |
Wells Fargo Advantage Core Bond Fund, Class I | 1,125,935 | 14,355,668 |
170,716,003 | ||
International Bond 1.1% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 644,158 | 6,055,089 |
Short-Term Bond 5.3% | ||
Schwab Short-Term Bond Market Fund (a) | 3,049,891 | 28,363,983 |
217,602,376 | ||
Money Market Fund 1.5% | ||
Schwab Value Advantage Money Fund, Ultra Shares 0.11% (a)(b) | 8,003,597 | 8,003,597 |
Total Other Investment Companies | ||
(Cost $453,786,929) | 521,173,514 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.8% of net assets | ||
Time Deposits 2.8% | ||
Barclays Capital, Inc. | ||
0.03%, 11/02/15 | 4,118,702 | 4,118,702 |
JPMorgan Chase Bank | ||
0.03%, 11/02/15 | 5,366,577 | 5,366,577 |
Sumitomo Mitsui Banking Corp. | ||
0.03%, 11/02/15 | 5,366,577 | 5,366,577 |
Total Short-Term Investments | ||
(Cost $14,851,856) | 14,851,856 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $521,173,514 | $— | $— | $521,173,514 | |||||
Short-Term Investments1 | — | 14,851,856 | — | 14,851,856 | |||||
Total | $521,173,514 | $14,851,856 | $— | $536,025,370 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $360,883,298) | $422,920,838 | |
Investments in unaffiliated issuers, at value (cost $107,755,487) | + | 113,104,532 |
Total investments, at value (cost $468,638,785) | 536,025,370 | |
Receivables: | ||
Investments sold | 6,450,000 | |
Fund shares sold | 640,357 | |
Dividends | 279,327 | |
Due from investment adviser | 2,635 | |
Interest | 25 | |
Prepaid expenses | + | 17,818 |
Total assets | 543,415,532 | |
Liabilities | ||
Payables: | ||
Investments bought | 6,735,449 | |
Fund shares redeemed | 250,610 | |
Accrued expenses | + | 49,200 |
Total liabilities | 7,035,259 | |
Net Assets | ||
Total assets | 543,415,532 | |
Total liabilities | – | 7,035,259 |
Net assets | $536,380,273 | |
Net Assets by Source | ||
Capital received from investors | 448,644,510 | |
Net investment income not yet distributed | 3,585,956 | |
Net realized capital gains | 16,763,222 | |
Net unrealized capital appreciation | 67,386,585 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$536,380,273 | 37,434,125 | $14.33 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $5,941,699 | |
Dividends received from unaffiliated underlying funds | 1,518,902 | |
Interest | + | 4,849 |
Total investment income | 7,465,450 | |
Expenses | ||
Shareholder reports | 34,717 | |
Professional fees | 31,662 | |
Transfer agent fees | 28,350 | |
Portfolio accounting fees | 24,597 | |
Registration fees | 23,514 | |
Custodian fees | 11,784 | |
Independent trustees' fees | 9,320 | |
Proxy fees | 3,223 | |
Other expenses | + | 12,399 |
Total expenses | 179,566 | |
Expense reduction by CSIM | – | 176,343 |
Net expenses | – | 3,223 |
Net investment income | 7,462,227 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 22,017,994 | |
Realized capital gain distributions received from unaffiliated underlying funds | 300,584 | |
Net realized gains on sales of affiliated underlying funds | 7,997,739 | |
Net realized gains on sales of unaffiliated underlying funds | + | 1,755,592 |
Net realized gains | 32,071,909 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (24,780,767) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (3,762,906) |
Net change in unrealized appreciation (depreciation) | + | (28,543,673) |
Net realized and unrealized gains | 3,528,236 | |
Increase in net assets resulting from operations | $10,990,463 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $7,462,227 | $6,816,459 | |
Net realized gains | 32,071,909 | 26,910,774 | |
Net change in unrealized appreciation (depreciation) | + | (28,543,673) | 231,749 |
Increase in net assets from operations | 10,990,463 | 33,958,982 | |
Distributions to Shareholders | |||
Distributions from net investment income | ($10,865,751) | ($7,213,636) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 8,456,975 | $121,244,776 | 8,720,572 | $120,772,973 | |
Shares reinvested | 734,526 | 10,422,917 | 510,642 | 6,944,736 | |
Shares redeemed | + | (6,613,737) | (94,577,536) | (5,023,958) | (69,819,952) |
Net transactions in fund shares | 2,577,764 | $37,090,157 | 4,207,256 | $57,897,757 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 34,856,361 | $499,165,404 | 30,649,105 | $414,522,301 | |
Total increase | + | 2,577,764 | 37,214,869 | 4,207,256 | 84,643,103 |
End of period | 37,434,125 | $536,380,273 | 34,856,361 | $499,165,404 | |
Net investment income not yet distributed | $3,585,956 | $3,805,442 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $14.54 | $13.63 | $11.73 | $10.84 | $10.46 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.19 1 | 0.21 | 0.21 | 0.19 | 0.19 | |
Net realized and unrealized gains (losses) | 0.15 | 0.93 | 1.93 | 0.89 | 0.38 | |
Total from investment operations | 0.34 | 1.14 | 2.14 | 1.08 | 0.57 | |
Less distributions: | ||||||
Distributions from net investment income | (0.32) | (0.23) | (0.24) | (0.19) | (0.19) | |
Distributions from net realized gains | (0.45) | — | — | — | — | |
Total distributions | (0.77) | (0.23) | (0.24) | (0.19) | (0.19) | |
Net asset value at end of period | $14.11 | $14.54 | $13.63 | $11.73 | $10.84 | |
Total return | 2.36% | 8.44% | 18.54% | 10.14% | 5.44% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | — | — | 0.00% 3 | — | |
Gross operating expenses2 | 0.04% | 0.06% | 0.08% | 0.10% | 0.14% | |
Net investment income (loss) | 1.37% | 1.39% | 1.57% | 1.73% | 1.66% | |
Portfolio turnover rate | 21% | 27% | 10% | 13% | 9% | |
Net assets, end of period (x 1,000,000) | $409 | $344 | $251 | $141 | $104 | |
Holdings by Category | Cost ($) | Value ($) | |
96.7% | Other Investment Companies | 359,271,853 | 395,801,058 |
3.4% | Short-Term Investments | 14,011,498 | 14,011,498 |
100.1% | Total Investments | 373,283,351 | 409,812,556 |
(0.1%) | Other Assets and Liabilities, Net | (451,434) | |
100.0% | Net Assets | 409,361,122 |
Security | Number of Shares | Value ($) |
Other Investment Companies 96.7% of net assets | ||
Equity Funds 65.7% | ||
Global Real Estate 3.4% | ||
Schwab Global Real Estate Fund (a) | 1,954,647 | 13,877,993 |
International 16.9% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 1,733,155 | 39,359,940 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 462,224 | 3,272,543 |
Schwab International Core Equity Fund (a) | 2,749,043 | 26,445,789 |
69,078,272 | ||
Large-Cap 40.6% | ||
Dodge & Cox Stock Fund | 23,511 | 4,115,300 |
Laudus U.S. Large Cap Growth Fund *(a) | 2,330,246 | 41,315,255 |
Schwab Core Equity Fund (a) | 1,987,490 | 45,911,028 |
Schwab Dividend Equity Fund (a) | 1,261,862 | 20,732,395 |
Schwab S&P 500 Index Fund (a) | 1,136,046 | 37,489,504 |
TCW Relative Value Large Cap Fund, Class I | 750,314 | 16,499,411 |
166,062,893 | ||
Small-Cap 4.8% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 387,230 | 6,865,592 |
Schwab Small-Cap Equity Fund (a) | 609,392 | 12,913,018 |
19,778,610 | ||
268,797,768 |
Security | Number of Shares | Value ($) |
Fixed-Income Funds 31.0% | ||
Inflation-Protected Bond 0.5% | ||
Schwab Treasury Inflation Protected Securities Index Fund (a) | 194,330 | 2,120,136 |
Intermediate-Term Bond 26.3% | ||
Metropolitan West Total Return Bond Fund, Class I | 2,839,451 | 30,722,863 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 1,136,717 | 12,867,638 |
Schwab Intermediate-Term Bond Fund (a) | 507,330 | 5,179,836 |
Schwab Total Bond Market Fund (a) | 5,479,728 | 52,002,615 |
Wells Fargo Advantage Core Bond Fund, Class I | 524,087 | 6,682,110 |
107,455,062 | ||
International Bond 1.1% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 488,782 | 4,594,555 |
Short-Term Bond 3.1% | ||
Schwab Short-Term Bond Market Fund (a) | 1,379,950 | 12,833,537 |
127,003,290 | ||
Total Other Investment Companies | ||
(Cost $359,271,853) | 395,801,058 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 3.4% of net assets | ||
Time Deposits 3.4% | ||
Bank of Tokyo - Mitsubishi UFJ | ||
0.03%, 11/02/15 | 4,098,988 | 4,098,988 |
Barclays Capital, Inc. | ||
0.03%, 11/02/15 | 4,098,988 | 4,098,988 |
DNB | ||
0.03%, 11/02/15 | 1,714,534 | 1,714,534 |
Nordea Bank | ||
0.03%, 11/02/15 | 4,098,988 | 4,098,988 |
Total Short-Term Investments | ||
(Cost $14,011,498) | 14,011,498 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $395,801,058 | $— | $— | $395,801,058 | |||||
Short-Term Investments1 | — | 14,011,498 | — | 14,011,498 | |||||
Total | $395,801,058 | $14,011,498 | $— | $409,812,556 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $292,343,114) | $324,913,736 | |
Investments in unaffiliated issuers, at value (cost $80,940,237) | + | 84,898,820 |
Total investments, at value (cost $373,283,351) | 409,812,556 | |
Receivables: | ||
Investments sold | 4,020,000 | |
Fund shares sold | 303,058 | |
Dividends | 161,810 | |
Due from investment adviser | 2,795 | |
Interest | 23 | |
Prepaid expenses | + | 10,116 |
Total assets | 414,310,358 | |
Liabilities | ||
Payables: | ||
Investments bought | 4,875,445 | |
Fund shares redeemed | 26,880 | |
Accrued expenses | + | 46,911 |
Total liabilities | 4,949,236 | |
Net Assets | ||
Total assets | 414,310,358 | |
Total liabilities | – | 4,949,236 |
Net assets | $409,361,122 | |
Net Assets by Source | ||
Capital received from investors | 352,532,789 | |
Net investment income not yet distributed | 2,183,520 | |
Net realized capital gains | 18,115,608 | |
Net unrealized capital appreciation | 36,529,205 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$409,361,122 | 29,014,394 | $14.11 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $4,184,002 | |
Dividends received from unaffiliated underlying funds | 1,092,548 | |
Interest | + | 3,741 |
Total investment income | 5,280,291 | |
Expenses | ||
Registration fees | 33,982 | |
Professional fees | 30,620 | |
Shareholder reports | 27,797 | |
Transfer agent fees | 27,490 | |
Portfolio accounting fees | 22,066 | |
Custodian fees | 9,952 | |
Independent trustees' fees | 8,640 | |
Proxy fees | 2,536 | |
Other expenses | + | 6,833 |
Total expenses | 169,916 | |
Expense reduction by CSIM | – | 167,380 |
Net expenses | – | 2,536 |
Net investment income | 5,277,755 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 17,879,699 | |
Realized capital gain distributions received from unaffiliated underlying funds | 247,721 | |
Net realized gains on sales of affiliated underlying funds | 3,858,765 | |
Net realized losses on sales of unaffiliated underlying funds | + | (134,161) |
Net realized gains | 21,852,024 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (17,433,733) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (1,509,414) |
Net change in unrealized appreciation (depreciation) | + | (18,943,147) |
Net realized and unrealized gains | 2,908,877 | |
Increase in net assets resulting from operations | $8,186,632 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $5,277,755 | $4,167,926 | |
Net realized gains | 21,852,024 | 12,428,746 | |
Net change in unrealized appreciation (depreciation) | + | (18,943,147) | 7,489,895 |
Increase in net assets from operations | 8,186,632 | 24,086,567 | |
Distributions to Shareholders | |||
Distributions from net investment income | (7,880,064) | (4,339,215) | |
Distributions from net realized gains | + | (10,940,164) | — |
Total distributions | ($18,820,228) | ($4,339,215) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 9,179,948 | $130,416,395 | 8,491,229 | $119,202,694 | |
Shares reinvested | 1,313,209 | 18,358,656 | 308,192 | 4,243,806 | |
Shares redeemed | + | (5,145,739) | (73,004,027) | (3,588,071) | (50,461,215) |
Net transactions in fund shares | 5,347,418 | $75,771,024 | 5,211,350 | $72,985,285 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 23,666,976 | $344,223,694 | 18,455,626 | $251,491,057 | |
Total increase | + | 5,347,418 | 65,137,428 | 5,211,350 | 92,732,637 |
End of period | 29,014,394 | $409,361,122 | 23,666,976 | $344,223,694 | |
Net investment income not yet distributed | $2,183,520 | $2,164,988 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.77 | $14.70 | $12.42 | $11.43 | $11.05 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.21 1 | 0.22 | 0.22 | 0.19 | 0.19 | |
Net realized and unrealized gains (losses) | 0.17 | 1.10 | 2.31 | 0.99 | 0.38 | |
Total from investment operations | 0.38 | 1.32 | 2.53 | 1.18 | 0.57 | |
Less distributions: | ||||||
Distributions from net investment income | (0.36) | (0.25) | (0.25) | (0.19) | (0.19) | |
Distributions from net realized gains | (0.20) | — | — | — | — | |
Total distributions | (0.56) | (0.25) | (0.25) | (0.19) | (0.19) | |
Net asset value at end of period | $15.59 | $15.77 | $14.70 | $12.42 | $11.43 | |
Total return | 2.44% | 9.11% | 20.73% | 10.52% | 5.20% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | — | — | — | — | |
Gross operating expenses2 | 0.03% | 0.03% | 0.04% | 0.05% | 0.05% | |
Net investment income (loss) | 1.36% | 1.38% | 1.59% | 1.62% | 1.60% | |
Portfolio turnover rate | 19% | 26% | 10% | 12% | 8% | |
Net assets, end of period (x 1,000,000) | $789 | $727 | $621 | $444 | $372 | |
Holdings by Category | Cost ($) | Value ($) | |
97.3% | Other Investment Companies | 638,577,603 | 767,348,794 |
2.8% | Short-Term Investments | 21,863,467 | 21,863,467 |
100.1% | Total Investments | 660,441,070 | 789,212,261 |
(0.1%) | Other Assets and Liabilities, Net | (434,122) | |
100.0% | Net Assets | 788,778,139 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.3% of net assets | ||
Equity Funds 73.8% | ||
Global Real Estate 3.8% | ||
Schwab Global Real Estate Fund (a) | 4,219,822 | 29,960,737 |
International 19.4% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 3,778,181 | 85,802,501 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 1,489,154 | 10,543,212 |
Schwab International Core Equity Fund (a) | 5,937,402 | 57,117,811 |
153,463,524 | ||
Large-Cap 44.8% | ||
Dodge & Cox Stock Fund | 49,993 | 8,750,689 |
Laudus U.S. Large Cap Growth Fund *(a) | 4,957,004 | 87,887,678 |
Schwab Core Equity Fund (a) | 4,225,482 | 97,608,626 |
Schwab Dividend Equity Fund (a) | 2,679,928 | 44,031,221 |
Schwab S&P 500 Index Fund (a) | 2,414,262 | 79,670,654 |
TCW Relative Value Large Cap Fund, Class I | 1,596,169 | 35,099,755 |
353,048,623 | ||
Small-Cap 5.8% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 891,921 | 15,813,760 |
Schwab Small-Cap Equity Fund (a) | 1,418,219 | 30,052,067 |
45,865,827 | ||
582,338,711 |
Security | Number of Shares | Value ($) |
Fixed-Income Funds 23.5% | ||
Intermediate-Term Bond 20.8% | ||
Metropolitan West Total Return Bond Fund, Class I | 4,339,939 | 46,958,138 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 2,231,373 | 25,259,142 |
Schwab Intermediate-Term Bond Fund (a) | 1,041,224 | 10,630,899 |
Schwab Total Bond Market Fund (a) | 7,706,982 | 73,139,262 |
Wells Fargo Advantage Core Bond Fund, Class I | 594,685 | 7,582,230 |
163,569,671 | ||
International Bond 0.9% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 780,730 | 7,338,866 |
Short-Term Bond 1.8% | ||
Schwab Short-Term Bond Market Fund (a) | 1,516,295 | 14,101,546 |
185,010,083 | ||
Total Other Investment Companies | ||
(Cost $638,577,603) | 767,348,794 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.8% of net assets | ||
Time Deposits 2.8% | ||
Barclays Capital, Inc. | ||
0.03%, 11/02/15 | 6,037,027 | 6,037,027 |
JPMorgan Chase Bank | ||
0.03%, 11/02/15 | 7,913,220 | 7,913,220 |
Sumitomo Mitsui Banking Corp. | ||
0.03%, 11/02/15 | 7,913,220 | 7,913,220 |
Total Short-Term Investments | ||
(Cost $21,863,467) | 21,863,467 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $767,348,794 | $— | $— | $767,348,794 | |||||
Short-Term Investments1 | — | 21,863,467 | — | 21,863,467 | |||||
Total | $767,348,794 | $21,863,467 | $— | $789,212,261 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $525,537,780) | $643,698,840 | |
Investments in unaffiliated issuers, at value (cost $134,903,290) | + | 145,513,421 |
Total investments, at value (cost $660,441,070) | 789,212,261 | |
Receivables: | ||
Investments sold | 7,670,000 | |
Fund shares sold | 944,599 | |
Dividends | 232,053 | |
Due from investment adviser | 3,434 | |
Interest | 36 | |
Prepaid expenses | + | 21,617 |
Total assets | 798,084,000 | |
Liabilities | ||
Payables: | ||
Investments bought | 7,117,123 | |
Fund shares redeemed | 2,124,148 | |
Accrued expenses | + | 64,590 |
Total liabilities | 9,305,861 | |
Net Assets | ||
Total assets | 798,084,000 | |
Total liabilities | – | 9,305,861 |
Net assets | $788,778,139 | |
Net Assets by Source | ||
Capital received from investors | 608,456,731 | |
Net investment income not yet distributed | 3,992,950 | |
Net realized capital gains | 47,557,267 | |
Net unrealized capital appreciation | 128,771,191 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$788,778,139 | 50,605,003 | $15.59 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $8,440,238 | |
Dividends received from unaffiliated underlying funds | 1,969,006 | |
Interest | + | 6,279 |
Total investment income | 10,415,523 | |
Expenses | ||
Shareholder reports | 50,929 | |
Professional fees | 33,351 | |
Transfer agent fees | 30,448 | |
Portfolio accounting fees | 28,820 | |
Registration fees | 28,333 | |
Custodian fees | 14,334 | |
Independent trustees' fees | 10,467 | |
Proxy fees | 5,052 | |
Other expenses | + | 17,143 |
Total expenses | 218,877 | |
Expense reduction by CSIM | – | 213,825 |
Net expenses | – | 5,052 |
Net investment income | 10,410,471 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 41,184,309 | |
Realized capital gain distributions received from unaffiliated underlying funds | 424,590 | |
Net realized gains on sales of affiliated underlying funds | 13,711,511 | |
Net realized gains on sales of unaffiliated underlying funds | + | 2,328,012 |
Net realized gains | 57,648,422 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (45,161,375) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (5,204,303) |
Net change in unrealized appreciation (depreciation) | + | (50,365,678) |
Net realized and unrealized gains | 7,282,744 | |
Increase in net assets resulting from operations | $17,693,215 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $10,410,471 | $9,372,784 | |
Net realized gains | 57,648,422 | 40,589,920 | |
Net change in unrealized appreciation (depreciation) | + | (50,365,678) | 8,954,942 |
Increase in net assets from operations | 17,693,215 | 58,917,646 | |
Distributions to Shareholders | |||
Distributions from net investment income | (16,692,788) | (10,903,512) | |
Distributions from net realized gains | + | (9,243,382) | — |
Total distributions | ($25,936,170) | ($10,903,512) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 10,291,955 | $160,976,354 | 8,997,016 | $136,481,276 | |
Shares reinvested | 1,631,332 | 25,204,083 | 710,161 | 10,588,500 | |
Shares redeemed | + | (7,433,036) | (116,539,103) | (5,865,191) | (89,178,074) |
Net transactions in fund shares | 4,490,251 | $69,641,334 | 3,841,986 | $57,891,702 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 46,114,752 | $727,379,760 | 42,272,766 | $621,473,924 | |
Total increase | + | 4,490,251 | 61,398,379 | 3,841,986 | 105,905,836 |
End of period | 50,605,003 | $788,778,139 | 46,114,752 | $727,379,760 | |
Net investment income not yet distributed | $3,992,950 | $4,196,623 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.23 | $14.12 | $11.69 | $10.70 | $10.32 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.19 1 | 0.20 | 0.20 | 0.16 | 0.16 | |
Net realized and unrealized gains (losses) | 0.17 | 1.15 | 2.45 | 0.99 | 0.38 | |
Total from investment operations | 0.36 | 1.35 | 2.65 | 1.15 | 0.54 | |
Less distributions: | ||||||
Distributions from net investment income | (0.35) | (0.24) | (0.22) | (0.16) | (0.16) | |
Distributions from net realized gains | (0.54) | — | — | — | — | |
Total distributions | (0.89) | (0.24) | (0.22) | (0.16) | (0.16) | |
Net asset value at end of period | $14.70 | $15.23 | $14.12 | $11.69 | $10.70 | |
Total return | 2.43% | 9.62% | 23.02% | 10.89% | 5.27% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | — | — | — | — | |
Gross operating expenses2 | 0.05% | 0.07% | 0.09% | 0.13% | 0.17% | |
Net investment income (loss) | 1.28% | 1.28% | 1.42% | 1.45% | 1.41% | |
Portfolio turnover rate | 14% | 24% | 5% | 11% | 4% | |
Net assets, end of period (x 1,000,000) | $337 | $282 | $204 | $111 | $77 | |
Holdings by Category | Cost ($) | Value ($) | |
97.6% | Other Investment Companies | 295,275,423 | 329,017,268 |
2.4% | Short-Term Investments | 7,970,983 | 7,970,983 |
100.0% | Total Investments | 303,246,406 | 336,988,251 |
0.0% | Other Assets and Liabilities, Net | 8,329 | |
100.0% | Net Assets | 336,996,580 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.6% of net assets | ||
Equity Funds 80.7% | ||
Global Real Estate 4.2% | ||
Schwab Global Real Estate Fund (a) | 1,965,221 | 13,953,068 |
International 21.7% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 1,766,255 | 40,111,661 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 893,478 | 6,325,823 |
Schwab International Core Equity Fund (a) | 2,780,871 | 26,751,976 |
73,189,460 | ||
Large-Cap 48.0% | ||
Dodge & Cox Stock Fund | 22,948 | 4,016,873 |
Laudus U.S. Large Cap Growth Fund *(a) | 2,272,925 | 40,298,967 |
Schwab Core Equity Fund (a) | 1,940,254 | 44,819,871 |
Schwab Dividend Equity Fund (a) | 1,220,114 | 20,046,466 |
Schwab S&P 500 Index Fund (a) | 1,106,385 | 36,510,712 |
TCW Relative Value Large Cap Fund, Class I | 731,893 | 16,094,338 |
161,787,227 | ||
Small-Cap 6.8% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 450,143 | 7,981,039 |
Schwab Small-Cap Equity Fund (a) | 707,704 | 14,996,238 |
22,977,277 | ||
271,907,032 |
Security | Number of Shares | Value ($) |
Fixed-Income Funds 16.9% | ||
Intermediate-Term Bond 15.3% | ||
Metropolitan West Total Return Bond Fund, Class I | 1,358,060 | 14,694,214 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 832,573 | 9,424,726 |
Schwab Intermediate-Term Bond Fund (a) | 419,886 | 4,287,040 |
Schwab Total Bond Market Fund (a) | 2,255,249 | 21,402,312 |
Wells Fargo Advantage Core Bond Fund, Class I | 147,203 | 1,876,836 |
51,685,128 | ||
International Bond 0.7% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 249,619 | 2,346,420 |
Short-Term Bond 0.9% | ||
Schwab Short-Term Bond Market Fund (a) | 331,042 | 3,078,688 |
57,110,236 | ||
Total Other Investment Companies | ||
(Cost $295,275,423) | 329,017,268 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.4% of net assets | ||
Time Deposits 2.4% | ||
Bank of Tokyo - Mitsubishi UFJ | ||
0.03%, 11/02/15 | 3,368,022 | 3,368,022 |
DNB | ||
0.03%, 11/02/15 | 1,234,939 | 1,234,939 |
Nordea Bank | ||
0.03%, 11/02/15 | 3,368,022 | 3,368,022 |
Total Short-Term Investments | ||
(Cost $7,970,983) | 7,970,983 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $329,017,268 | $— | $— | $329,017,268 | |||||
Short-Term Investments1 | — | 7,970,983 | — | 7,970,983 | |||||
Total | $329,017,268 | $7,970,983 | $— | $336,988,251 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $253,321,052) | $282,910,281 | |
Investments in unaffiliated issuers, at value (cost $49,925,354) | + | 54,077,970 |
Total investments, at value (cost $303,246,406) | 336,988,251 | |
Receivables: | ||
Investments sold | 2,410,000 | |
Fund shares sold | 852,864 | |
Dividends | 69,466 | |
Due from investment adviser | 2,849 | |
Interest | 14 | |
Prepaid expenses | + | 8,902 |
Total assets | 340,332,346 | |
Liabilities | ||
Payables: | ||
Investments bought | 3,270,967 | |
Fund shares redeemed | 17,155 | |
Accrued expenses | + | 47,644 |
Total liabilities | 3,335,766 | |
Net Assets | ||
Total assets | 340,332,346 | |
Total liabilities | – | 3,335,766 |
Net assets | $336,996,580 | |
Net Assets by Source | ||
Capital received from investors | 283,910,622 | |
Net investment income not yet distributed | 1,315,291 | |
Net realized capital gains | 18,028,822 | |
Net unrealized capital appreciation | 33,741,845 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$336,996,580 | 22,928,423 | $14.70 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $3,338,443 | |
Dividends received from unaffiliated underlying funds | 683,613 | |
Interest | + | 2,194 |
Total investment income | 4,024,250 | |
Expenses | ||
Professional fees | 30,128 | |
Registration fees | 29,623 | |
Shareholder reports | 29,167 | |
Transfer agent fees | 28,926 | |
Portfolio accounting fees | 20,854 | |
Custodian fees | 10,099 | |
Independent trustees' fees | 8,316 | |
Proxy fees | 2,588 | |
Other expenses | + | 5,746 |
Total expenses | 165,447 | |
Expense reduction by CSIM | – | 162,859 |
Net expenses | – | 2,588 |
Net investment income | 4,021,662 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 17,533,938 | |
Realized capital gain distributions received from unaffiliated underlying funds | 161,378 | |
Net realized gains on sales of affiliated underlying funds | 3,986,694 | |
Net realized losses on sales of unaffiliated underlying funds | + | (101,572) |
Net realized gains | 21,580,438 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (18,004,017) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (1,009,593) |
Net change in unrealized appreciation (depreciation) | + | (19,013,610) |
Net realized and unrealized gains | 2,566,828 | |
Increase in net assets resulting from operations | $6,588,490 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $4,021,662 | $3,136,030 | |
Net realized gains | 21,580,438 | 11,661,536 | |
Net change in unrealized appreciation (depreciation) | + | (19,013,610) | 7,420,048 |
Increase in net assets from operations | 6,588,490 | 22,217,614 | |
Distributions to Shareholders | |||
Distributions from net investment income | (6,621,678) | (3,570,560) | |
Distributions from net realized gains | + | (10,314,099) | — |
Total distributions | ($16,935,777) | ($3,570,560) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 6,655,837 | $98,662,330 | 6,032,360 | $88,289,647 | |
Shares reinvested | 1,133,588 | 16,527,714 | 242,410 | 3,485,859 | |
Shares redeemed | + | (3,359,991) | (49,645,929) | (2,250,360) | (32,933,604) |
Net transactions in fund shares | 4,429,434 | $65,544,115 | 4,024,410 | $58,841,902 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 18,498,989 | $281,799,752 | 14,474,579 | $204,310,796 | |
Total increase | + | 4,429,434 | 55,196,828 | 4,024,410 | 77,488,956 |
End of period | 22,928,423 | $336,996,580 | 18,498,989 | $281,799,752 | |
Net investment income not yet distributed | $1,315,291 | $1,307,494 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $16.77 | $15.49 | $12.67 | $11.55 | $11.16 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.21 1 | 0.21 | 0.22 | 0.17 | 0.17 | |
Net realized and unrealized gains (losses) | 0.20 | 1.33 | 2.84 | 1.12 | 0.40 | |
Total from investment operations | 0.41 | 1.54 | 3.06 | 1.29 | 0.57 | |
Less distributions: | ||||||
Distributions from net investment income | (0.39) | (0.26) | (0.24) | (0.17) | (0.18) | |
Distributions from net realized gains | (0.37) | — | — | — | — | |
Total distributions | (0.76) | (0.26) | (0.24) | (0.17) | (0.18) | |
Net asset value at end of period | $16.42 | $16.77 | $15.49 | $12.67 | $11.55 | |
Total return | 2.48% | 10.07% | 24.55% | 11.33% | 5.08% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | — | — | — | — | |
Gross operating expenses2 | 0.03% | 0.04% | 0.04% | 0.06% | 0.06% | |
Net investment income (loss) | 1.27% | 1.26% | 1.47% | 1.42% | 1.42% | |
Portfolio turnover rate | 13% | 23% | 6% | 12% | 3% | |
Net assets, end of period (x 1,000,000) | $834 | $768 | $639 | $435 | $342 | |
Holdings by Category | Cost ($) | Value ($) | |
97.9% | Other Investment Companies | 673,272,523 | 817,036,505 |
2.3% | Short-Term Investments | 18,819,634 | 18,819,634 |
100.2% | Total Investments | 692,092,157 | 835,856,139 |
(0.2%) | Other Assets and Liabilities, Net | (1,366,036) | |
100.0% | Net Assets | 834,490,103 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.9% of net assets | ||
Equity Funds 87.1% | ||
Global Real Estate 4.5% | ||
Schwab Global Real Estate Fund (a) | 5,246,536 | 37,250,406 |
International 23.9% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 4,733,337 | 107,494,088 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 2,872,662 | 20,338,444 |
Schwab International Core Equity Fund (a) | 7,451,387 | 71,682,346 |
199,514,878 | ||
Large-Cap 50.8% | ||
Dodge & Cox Stock Fund | 60,091 | 10,518,293 |
Laudus U.S. Large Cap Growth Fund *(a) | 5,959,224 | 105,657,049 |
Schwab Core Equity Fund (a) | 5,092,328 | 117,632,777 |
Schwab Dividend Equity Fund (a) | 3,174,382 | 52,155,094 |
Schwab S&P 500 Index Fund (a) | 2,898,817 | 95,660,952 |
TCW Relative Value Large Cap Fund, Class I | 1,933,203 | 42,511,126 |
424,135,291 | ||
Small-Cap 7.9% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 1,299,448 | 23,039,214 |
Schwab Small-Cap Equity Fund (a) | 2,043,606 | 43,304,004 |
66,343,218 | ||
727,243,793 |
Security | Number of Shares | Value ($) |
Fixed-Income Funds 10.8% | ||
Intermediate-Term Bond 10.0% | ||
Metropolitan West Total Return Bond Fund, Class I | 2,162,504 | 23,398,290 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 1,551,515 | 17,563,145 |
Schwab Intermediate-Term Bond Fund (a) | 799,428 | 8,162,159 |
Schwab Total Bond Market Fund (a) | 3,354,260 | 31,831,927 |
Wells Fargo Advantage Core Bond Fund, Class I | 177,299 | 2,260,565 |
83,216,086 | ||
International Bond 0.4% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 331,487 | 3,115,975 |
Short-Term Bond 0.4% | ||
Schwab Short-Term Bond Market Fund (a) | 372,113 | 3,460,651 |
89,792,712 | ||
Total Other Investment Companies | ||
(Cost $673,272,523) | 817,036,505 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.3% of net assets | ||
Time Deposits 2.3% | ||
Bank of Tokyo - Mitsubishi UFJ | ||
0.03%, 11/02/15 | 8,358,459 | 8,358,459 |
DNB | ||
0.03%, 11/02/15 | 2,102,716 | 2,102,716 |
Nordea Bank | ||
0.03%, 11/02/15 | 8,358,459 | 8,358,459 |
Total Short-Term Investments | ||
(Cost $18,819,634) | 18,819,634 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $817,036,505 | $— | $— | $817,036,505 | |||||
Short-Term Investments1 | — | 18,819,634 | — | 18,819,634 | |||||
Total | $817,036,505 | $18,819,634 | $— | $835,856,139 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $591,100,288) | $720,785,086 | |
Investments in unaffiliated issuers, at value (cost $100,991,869) | + | 115,071,053 |
Total investments, at value (cost $692,092,157) | 835,856,139 | |
Receivables: | ||
Investments sold | 3,430,000 | |
Fund shares sold | 892,832 | |
Dividends | 111,323 | |
Due from investment adviser | 4,709 | |
Interest | 31 | |
Prepaid expenses | + | 22,453 |
Total assets | 840,317,487 | |
Liabilities | ||
Payables: | ||
Investments bought | 5,203,691 | |
Fund shares redeemed | 532,931 | |
Accrued expenses | + | 90,762 |
Total liabilities | 5,827,384 | |
Net Assets | ||
Total assets | 840,317,487 | |
Total liabilities | – | 5,827,384 |
Net assets | $834,490,103 | |
Net Assets by Source | ||
Capital received from investors | 632,259,782 | |
Net investment income not yet distributed | 2,851,945 | |
Net realized capital gains | 55,614,394 | |
Net unrealized capital appreciation | 143,763,982 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$834,490,103 | 50,836,842 | $16.42 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $8,813,321 | |
Dividends received from unaffiliated underlying funds | 1,466,088 | |
Interest | + | 5,156 |
Total investment income | 10,284,565 | |
Expenses | ||
Shareholder reports | 80,577 | |
Transfer agent fees | 38,394 | |
Professional fees | 33,655 | |
Registration fees | 30,327 | |
Portfolio accounting fees | 29,635 | |
Custodian fees | 16,257 | |
Independent trustees' fees | 10,685 | |
Proxy fees | 8,468 | |
Other expenses | + | 17,078 |
Total expenses | 265,076 | |
Expense reduction by CSIM | – | 256,608 |
Net expenses | – | 8,468 |
Net investment income | 10,276,097 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 50,338,480 | |
Realized capital gain distributions received from unaffiliated underlying funds | 380,970 | |
Net realized gains on sales of affiliated underlying funds | 14,383,196 | |
Net realized gains on sales of unaffiliated underlying funds | + | 2,378,679 |
Net realized gains | 67,481,325 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (54,360,956) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (4,404,448) |
Net change in unrealized appreciation (depreciation) | + | (58,765,404) |
Net realized and unrealized gains | 8,715,921 | |
Increase in net assets resulting from operations | $18,992,018 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $10,276,097 | $8,930,035 | |
Net realized gains | 67,481,325 | 42,520,112 | |
Net change in unrealized appreciation (depreciation) | + | (58,765,404) | 16,163,418 |
Increase in net assets from operations | 18,992,018 | 67,613,565 | |
Distributions to Shareholders | |||
Distributions from net investment income | (18,123,716) | (11,083,321) | |
Distributions from net realized gains | + | (16,937,962) | — |
Total distributions | ($35,061,678) | ($11,083,321) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 9,498,363 | $156,723,911 | 9,715,793 | $156,225,134 | |
Shares reinvested | 2,105,777 | 34,303,111 | 684,108 | 10,822,584 | |
Shares redeemed | + | (6,579,336) | (108,941,688) | (5,866,001) | (94,545,374) |
Net transactions in fund shares | 5,024,804 | $82,085,334 | 4,533,900 | $72,502,344 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 45,812,038 | $768,474,429 | 41,278,138 | $639,441,841 | |
Total increase | + | 5,024,804 | 66,015,674 | 4,533,900 | 129,032,588 |
End of period | 50,836,842 | $834,490,103 | 45,812,038 | $768,474,429 | |
Net investment income not yet distributed | $2,851,945 | $3,169,629 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 1/23/13 1– 10/31/13 | ||||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.67 | $11.66 | $10.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.14 2 | 0.16 | 0.02 | |||
Net realized and unrealized gains (losses) | 0.15 | 1.03 | 1.64 | |||
Total from investment operations | 0.29 | 1.19 | 1.66 | |||
Less distributions: | ||||||
Distributions from net investment income | (0.29) | (0.18) | — | |||
Distributions from net realized gains | (0.16) | — | — | |||
Total distributions | (0.45) | (0.18) | — | |||
Net asset value at end of period | $12.51 | $12.67 | $11.66 | |||
Total return | 2.37% | 10.30% | 16.60% 3 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses4 | 0.00% 5 | — | 0.00% 6,7 | |||
Gross operating expenses4 | 0.20% | 0.32% | 1.08% 6 | |||
Net investment income (loss) | 1.09% | 1.03% | 0.46% 6 | |||
Portfolio turnover rate | 10% | 23% | 39% 3 | |||
Net assets, end of period (x 1,000,000) | $66 | $41 | $18 | |||
Holdings by Category | Cost ($) | Value ($) | |
97.9% | Other Investment Companies | 63,643,455 | 64,440,100 |
1.9% | Short-Term Investments | 1,261,456 | 1,261,456 |
99.8% | Total Investments | 64,904,911 | 65,701,556 |
0.2% | Other Assets and Liabilities, Net | 125,030 | |
100.0% | Net Assets | 65,826,586 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.9% of net assets | ||
Equity Funds 90.7% | ||
Global Real Estate 4.6% | ||
Schwab Global Real Estate Fund (a) | 430,025 | 3,053,176 |
International 25.2% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 388,812 | 8,829,933 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 260,292 | 1,842,865 |
Schwab International Core Equity Fund (a) | 611,981 | 5,887,256 |
16,560,054 | ||
Large-Cap 52.2% | ||
Dodge & Cox Stock Fund | 4,871 | 852,539 |
Laudus U.S. Large Cap Growth Fund *(a) | 482,732 | 8,558,837 |
Schwab Core Equity Fund (a) | 412,499 | 9,528,728 |
Schwab Dividend Equity Fund (a) | 257,925 | 4,237,708 |
Schwab S&P 500 Index Fund (a) | 234,798 | 7,748,334 |
TCW Relative Value Large Cap Fund, Class I | 156,565 | 3,442,866 |
34,369,012 | ||
Small-Cap 8.7% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 111,137 | 1,970,465 |
Schwab Small-Cap Equity Fund (a) | 175,938 | 3,728,112 |
5,698,577 | ||
59,680,819 |
Security | Number of Shares | Value ($) |
Fixed-Income Funds 7.2% | ||
Intermediate-Term Bond 6.9% | ||
Metropolitan West Total Return Bond Fund, Class I | 116,478 | 1,260,288 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 91,120 | 1,031,478 |
Schwab Intermediate-Term Bond Fund (a) | 49,368 | 504,052 |
Schwab Total Bond Market Fund (a) | 172,153 | 1,633,733 |
Wells Fargo Advantage Core Bond Fund, Class I | 7,722 | 98,452 |
4,528,003 | ||
International Bond 0.1% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 11,852 | 111,406 |
Short-Term Bond 0.2% | ||
Schwab Short-Term Bond Market Fund (a) | 12,889 | 119,872 |
4,759,281 | ||
Total Other Investment Companies | ||
(Cost $63,643,455) | 64,440,100 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.9% of net assets | ||
Time Deposits 1.9% | ||
DNB | ||
0.03%, 11/02/15 | 602,089 | 602,089 |
Nordea Bank | ||
0.03%, 11/02/15 | 659,367 | 659,367 |
Total Short-Term Investments | ||
(Cost $1,261,456) | 1,261,456 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $64,440,100 | $— | $— | $64,440,100 | |||||
Short-Term Investments1 | — | 1,261,456 | — | 1,261,456 | |||||
Total | $64,440,100 | $1,261,456 | $— | $65,701,556 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $57,183,509) | $57,754,477 | |
Investments in unaffiliated issuers, at value (cost $7,721,402) | + | 7,947,079 |
Total investments, at value (cost $64,904,911) | 65,701,556 | |
Receivables: | ||
Investments sold | 426,000 | |
Fund shares sold | 81,277 | |
Dividends | 6,034 | |
Due from investment adviser | 1,647 | |
Prepaid expenses | + | 3,742 |
Total assets | 66,220,256 | |
Liabilities | ||
Payables: | ||
Investments bought | 301,161 | |
Fund shares redeemed | 62,912 | |
Accrued expenses | + | 29,597 |
Total liabilities | 393,670 | |
Net Assets | ||
Total assets | 66,220,256 | |
Total liabilities | – | 393,670 |
Net assets | $65,826,586 | |
Net Assets by Source | ||
Capital received from investors | 62,751,635 | |
Net investment income not yet distributed | 124,813 | |
Net realized capital gains | 2,153,493 | |
Net unrealized capital appreciation | 796,645 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$65,826,586 | 5,261,268 | $12.51 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $518,981 | |
Dividends received from unaffiliated underlying funds | 78,534 | |
Interest | + | 335 |
Total investment income | 597,850 | |
Expenses | ||
Professional fees | 29,016 | |
Registration fees | 23,994 | |
Transfer agent fees | 22,210 | |
Shareholder reports | 12,966 | |
Portfolio accounting fees | 7,221 | |
Independent trustees' fees | 7,081 | |
Custodian fees | 5,768 | |
Proxy fees | 913 | |
Interest expense | 20 | |
Other expenses | + | 1,342 |
Total expenses | 110,531 | |
Expense reduction by CSIM | – | 109,598 |
Net expenses | – | 933 |
Net investment income | 596,917 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 2,945,020 | |
Realized capital gain distributions received from unaffiliated underlying funds | 22,249 | |
Net realized losses on sales of affiliated underlying funds | (285,230) | |
Net realized losses on sales of unaffiliated underlying funds | + | (52,129) |
Net realized gains | 2,629,910 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (2,274,409) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (102,497) |
Net change in unrealized appreciation (depreciation) | + | (2,376,906) |
Net realized and unrealized gains | 253,004 | |
Increase in net assets resulting from operations | $849,921 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $596,917 | $300,417 | |
Net realized gains | 2,629,910 | 670,918 | |
Net change in unrealized appreciation (depreciation) | + | (2,376,906) | 1,758,596 |
Increase in net assets from operations | 849,921 | 2,729,931 | |
Distributions to Shareholders | |||
Distributions from net investment income | (1,032,882) | (312,358) | |
Distributions from net realized gains | + | (569,067) | — |
Total distributions | ($1,601,949) | ($312,358) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 2,576,788 | $32,462,188 | 2,059,069 | $25,057,061 | |
Shares reinvested | 125,756 | 1,561,897 | 25,653 | 306,297 | |
Shares redeemed | + | (677,473) | (8,446,952) | (359,691) | (4,402,377) |
Net transactions in fund shares | 2,025,071 | $25,577,133 | 1,725,031 | $20,960,981 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 3,236,197 | $41,001,481 | 1,511,166 | $17,622,927 | |
Total increase | + | 2,025,071 | 24,825,105 | 1,725,031 | 23,378,554 |
End of period | 5,261,268 | $65,826,586 | 3,236,197 | $41,001,481 | |
Net investment income not yet distributed | $124,813 | $119,149 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 1/23/13 1– 10/31/13 | ||||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.75 | $11.72 | $10.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.13 2 | 0.17 | 0.02 | |||
Net realized and unrealized gains (losses) | 0.18 | 1.04 | 1.70 | |||
Total from investment operations | 0.31 | 1.21 | 1.72 | |||
Less distributions: | ||||||
Distributions from net investment income | (0.30) | (0.18) | — | |||
Distributions from net realized gains | (0.16) | — | — | |||
Total distributions | (0.46) | (0.18) | — | |||
Net asset value at end of period | $12.60 | $12.75 | $11.72 | |||
Total return | 2.44% | 10.43% | 17.20% 3 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses4 | 0.00% 5 | — | 0.00% 6,7 | |||
Gross operating expenses4 | 0.25% | 0.39% | 1.37% 6 | |||
Net investment income (loss) | 1.05% | 0.99% | 0.40% 6 | |||
Portfolio turnover rate | 8% | 23% | 40% 3 | |||
Net assets, end of period (x 1,000,000) | $53 | $33 | $14 | |||
Holdings by Category | Cost ($) | Value ($) | |
97.9% | Other Investment Companies | 51,074,660 | 51,755,294 |
2.0% | Short-Term Investments | 1,053,385 | 1,053,385 |
99.9% | Total Investments | 52,128,045 | 52,808,679 |
0.1% | Other Assets and Liabilities, Net | 68,708 | |
100.0% | Net Assets | 52,877,387 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.9% of net assets | ||
Equity Funds 93.1% | ||
Global Real Estate 4.8% | ||
Schwab Global Real Estate Fund (a) | 354,606 | 2,517,704 |
International 26.0% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 321,047 | 7,290,988 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 230,062 | 1,628,837 |
Schwab International Core Equity Fund (a) | 505,203 | 4,860,055 |
13,779,880 | ||
Large-Cap 53.1% | ||
Dodge & Cox Stock Fund | 3,976 | 696,021 |
Laudus U.S. Large Cap Growth Fund *(a) | 394,480 | 6,994,125 |
Schwab Core Equity Fund (a) | 335,945 | 7,760,328 |
Schwab Dividend Equity Fund (a) | 212,130 | 3,485,300 |
Schwab S&P 500 Index Fund (a) | 191,919 | 6,333,341 |
TCW Relative Value Large Cap Fund, Class I | 127,031 | 2,793,409 |
28,062,524 | ||
Small-Cap 9.2% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 96,278 | 1,707,011 |
Schwab Small-Cap Equity Fund (a) | 149,660 | 3,171,298 |
4,878,309 | ||
49,238,417 |
Security | Number of Shares | Value ($) |
Fixed-Income Funds 4.8% | ||
Intermediate-Term Bond 4.6% | ||
Metropolitan West Total Return Bond Fund, Class I | 63,840 | 690,744 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 51,528 | 583,301 |
Schwab Intermediate-Term Bond Fund (a) | 25,092 | 256,192 |
Schwab Total Bond Market Fund (a) | 85,885 | 815,044 |
Wells Fargo Advantage Core Bond Fund, Class I | 4,707 | 60,020 |
2,405,301 | ||
International Bond 0.1% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 7,172 | 67,420 |
Short-Term Bond 0.1% | ||
Schwab Short-Term Bond Market Fund (a) | 4,748 | 44,156 |
2,516,877 | ||
Total Other Investment Companies | ||
(Cost $51,074,660) | 51,755,294 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.0% of net assets | ||
Time Deposits 2.0% | ||
Barclays Capital, Inc. | ||
0.03%, 11/02/15 | 523,215 | 523,215 |
Sumitomo Mitsui Banking Corp. | ||
0.03%, 11/02/15 | 530,170 | 530,170 |
Total Short-Term Investments | ||
(Cost $1,053,385) | 1,053,385 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $51,755,294 | $— | $— | $51,755,294 | |||||
Short-Term Investments1 | — | 1,053,385 | — | 1,053,385 | |||||
Total | $51,755,294 | $1,053,385 | $— | $52,808,679 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $46,456,078) | $46,931,799 | |
Investments in unaffiliated issuers, at value (cost $5,671,967) | + | 5,876,880 |
Total investments, at value (cost $52,128,045) | 52,808,679 | |
Receivables: | ||
Investments sold | 338,000 | |
Fund shares sold | 96,809 | |
Dividends | 3,317 | |
Due from investment adviser | 1,600 | |
Prepaid expenses | + | 4,140 |
Total assets | 53,252,545 | |
Liabilities | ||
Payables: | ||
Investments bought | 313,385 | |
Fund shares redeemed | 32,858 | |
Accrued expenses | + | 28,915 |
Total liabilities | 375,158 | |
Net Assets | ||
Total assets | 53,252,545 | |
Total liabilities | – | 375,158 |
Net assets | $52,877,387 | |
Net Assets by Source | ||
Capital received from investors | 50,292,273 | |
Net investment income not yet distributed | 84,614 | |
Net realized capital gains | 1,819,866 | |
Net unrealized capital appreciation | 680,634 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$52,877,387 | 4,196,167 | $12.60 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $417,071 | |
Dividends received from unaffiliated underlying funds | 52,498 | |
Interest | + | 271 |
Total investment income | 469,840 | |
Expenses | ||
Professional fees | 28,948 | |
Transfer agent fees | 22,453 | |
Registration fees | 22,427 | |
Shareholder reports | 13,633 | |
Portfolio accounting fees | 7,042 | |
Independent trustees' fees | 7,033 | |
Custodian fees | 6,004 | |
Proxy fees | 974 | |
Interest expense | 23 | |
Other expenses | + | 1,205 |
Total expenses | 109,742 | |
Expense reduction by CSIM | – | 108,745 |
Net expenses | – | 997 |
Net investment income | 468,843 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 2,417,658 | |
Realized capital gain distributions received from unaffiliated underlying funds | 15,385 | |
Net realized losses on sales of affiliated underlying funds | (179,162) | |
Net realized losses on sales of unaffiliated underlying funds | + | (31,966) |
Net realized gains | 2,221,915 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (1,856,263) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (66,314) |
Net change in unrealized appreciation (depreciation) | + | (1,922,577) |
Net realized and unrealized gains | 299,338 | |
Increase in net assets resulting from operations | $768,181 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $468,843 | $228,395 | |
Net realized gains | 2,221,915 | 525,789 | |
Net change in unrealized appreciation (depreciation) | + | (1,922,577) | 1,454,604 |
Increase in net assets from operations | 768,181 | 2,208,788 | |
Distributions to Shareholders | |||
Distributions from net investment income | (830,660) | (246,172) | |
Distributions from net realized gains | + | (451,787) | — |
Total distributions | ($1,282,447) | ($246,172) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 2,053,340 | $26,056,935 | 1,761,233 | $21,571,597 | |
Shares reinvested | 100,456 | 1,256,702 | 20,179 | 242,557 | |
Shares redeemed | + | (583,556) | (7,414,061) | (348,673) | (4,264,424) |
Net transactions in fund shares | 1,570,240 | $19,899,576 | 1,432,739 | $17,549,730 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 2,625,927 | $33,492,077 | 1,193,188 | $13,979,731 | |
Total increase | + | 1,570,240 | 19,385,310 | 1,432,739 | 19,512,346 |
End of period | 4,196,167 | $52,877,387 | 2,625,927 | $33,492,077 | |
Net investment income not yet distributed | $84,614 | $83,422 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 1/23/13 1– 10/31/13 | ||||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.79 | $11.74 | $10.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.13 2 | 0.16 | 0.02 | |||
Net realized and unrealized gains (losses) | 0.17 | 1.07 | 1.72 | |||
Total from investment operations | 0.30 | 1.23 | 1.74 | |||
Less distributions: | ||||||
Distributions from net investment income | (0.30) | (0.18) | — | |||
Distributions from net realized gains | (0.16) | — | — | |||
Total distributions | (0.46) | (0.18) | — | |||
Net asset value at end of period | $12.63 | $12.79 | $11.74 | |||
Total return | 2.36% | 10.59% | 17.40% 3 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses4 | 0.00% 5 | — | 0.00% 6,7 | |||
Gross operating expenses4 | 0.44% | 0.68% | 2.78% 7 | |||
Net investment income (loss) | 1.03% | 0.94% | 0.34% 7 | |||
Portfolio turnover rate | 8% | 29% | 12% 3 | |||
Net assets, end of period (x 1,000,000) | $29 | $18 | $7 | |||
Holdings by Category | Cost ($) | Value ($) | |
97.9% | Other Investment Companies | 27,858,087 | 28,194,271 |
2.0% | Short-Term Investments | 575,260 | 575,260 |
99.9% | Total Investments | 28,433,347 | 28,769,531 |
0.1% | Other Assets and Liabilities, Net | 35,821 | |
100.0% | Net Assets | 28,805,352 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.9% of net assets | ||
Equity Funds 95.6% | ||
Global Real Estate 4.9% | ||
Schwab Global Real Estate Fund (a) | 198,219 | 1,407,356 |
International 27.0% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 179,619 | 4,079,145 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 136,613 | 967,220 |
Schwab International Core Equity Fund (a) | 282,649 | 2,719,086 |
7,765,451 | ||
Large-Cap 53.9% | ||
Dodge & Cox Stock Fund | 2,208 | 386,500 |
Laudus U.S. Large Cap Growth Fund *(a) | 218,270 | 3,869,926 |
Schwab Core Equity Fund (a) | 186,781 | 4,314,634 |
Schwab Dividend Equity Fund (a) | 115,725 | 1,901,357 |
Schwab S&P 500 Index Fund (a) | 106,118 | 3,501,889 |
TCW Relative Value Large Cap Fund, Class I | 70,785 | 1,556,553 |
15,530,859 | ||
Small-Cap 9.8% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 55,241 | 979,429 |
Schwab Small-Cap Equity Fund (a) | 87,547 | 1,855,111 |
2,834,540 | ||
27,538,206 |
Security | Number of Shares | Value ($) |
Fixed-Income Funds 2.3% | ||
Intermediate-Term Bond 2.2% | ||
Metropolitan West Total Return Bond Fund, Class I | 18,785 | 203,256 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 12,835 | 145,295 |
Schwab Intermediate-Term Bond Fund (a) | 6,509 | 66,459 |
Schwab Total Bond Market Fund (a) | 21,076 | 200,011 |
Wells Fargo Advantage Core Bond Fund, Class I | 1,418 | 18,073 |
633,094 | ||
International Bond 0.1% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 2,444 | 22,971 |
656,065 | ||
Total Other Investment Companies | ||
(Cost $27,858,087) | 28,194,271 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.0% of net assets | ||
Time Deposits 2.0% | ||
Bank of Tokyo - Mitsubishi UFJ | ||
0.03%, 11/02/15 | 288,370 | 288,370 |
Nordea Bank | ||
0.03%, 11/02/15 | 286,890 | 286,890 |
Total Short-Term Investments | ||
(Cost $575,260) | 575,260 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $28,194,271 | $— | $— | $28,194,271 | |||||
Short-Term Investments1 | — | 575,260 | — | 575,260 | |||||
Total | $28,194,271 | $575,260 | $— | $28,769,531 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $25,670,086) | $25,884,594 | |
Investments in unaffiliated issuers, at value (cost $2,763,261) | + | 2,884,937 |
Total investments, at value (cost $28,433,347) | 28,769,531 | |
Receivables: | ||
Investments sold | 227,000 | |
Fund shares sold | 30,663 | |
Due from investment adviser | 1,515 | |
Dividends | 962 | |
Prepaid expenses | + | 3,206 |
Total assets | 29,032,877 | |
Liabilities | ||
Payables: | ||
Investments bought | 196,981 | |
Fund shares redeemed | 2,277 | |
Accrued expenses | + | 28,267 |
Total liabilities | 227,525 | |
Net Assets | ||
Total assets | 29,032,877 | |
Total liabilities | – | 227,525 |
Net assets | $28,805,352 | |
Net Assets by Source | ||
Capital received from investors | 27,435,660 | |
Net investment income not yet distributed | 35,305 | |
Net realized capital gains | 998,203 | |
Net unrealized capital appreciation | 336,184 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$28,805,352 | 2,280,702 | $12.63 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $223,342 | |
Dividends received from unaffiliated underlying funds | 22,574 | |
Interest | + | 144 |
Total investment income | 246,060 | |
Expenses | ||
Professional fees | 28,794 | |
Transfer agent fees | 22,737 | |
Registration fees | 19,681 | |
Shareholder reports | 12,873 | |
Independent trustees' fees | 6,938 | |
Portfolio accounting fees | 6,655 | |
Custodian fees | 5,119 | |
Proxy fees | 900 | |
Other expenses | + | 951 |
Total expenses | 104,648 | |
Expense reduction by CSIM | – | 103,748 |
Net expenses | – | 900 |
Net investment income | 245,160 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,328,949 | |
Realized capital gain distributions received from unaffiliated underlying funds | 7,484 | |
Net realized losses on sales of affiliated underlying funds | (86,615) | |
Net realized losses on sales of unaffiliated underlying funds | + | (12,333) |
Net realized gains | 1,237,485 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (1,042,352) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (27,909) |
Net change in unrealized appreciation (depreciation) | + | (1,070,261) |
Net realized and unrealized gains | 167,224 | |
Increase in net assets resulting from operations | $412,384 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $245,160 | $119,200 | |
Net realized gains | 1,237,485 | 255,531 | |
Net change in unrealized appreciation (depreciation) | + | (1,070,261) | 827,347 |
Increase in net assets from operations | 412,384 | 1,202,078 | |
Distributions to Shareholders | |||
Distributions from net investment income | (449,182) | (131,185) | |
Distributions from net realized gains | + | (247,620) | — |
Total distributions | ($696,802) | ($131,185) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 1,224,356 | $15,542,457 | 1,167,531 | $14,320,677 | |
Shares reinvested | 53,831 | 675,575 | 10,605 | 127,787 | |
Shares redeemed | + | (398,490) | (5,048,181) | (363,239) | (4,481,218) |
Net transactions in fund shares | 879,697 | $11,169,851 | 814,897 | $9,967,246 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 1,401,005 | $17,919,919 | 586,108 | $6,881,780 | |
Total increase | + | 879,697 | 10,885,433 | 814,897 | 11,038,139 |
End of period | 2,280,702 | $28,805,352 | 1,401,005 | $17,919,919 | |
Net investment income not yet distributed | $35,305 | $39,478 |
Schwab Capital Trust (organized May 7, 1993) | Laudus International MarketMasters Fund™ |
Schwab Target 2010 Fund | Schwab Balanced Fund™ |
Schwab Target 2015 Fund | Schwab Core Equity Fund™ |
Schwab Target 2020 Fund | Schwab Dividend Equity Fund™ |
Schwab Target 2025 Fund | Schwab Large-Cap Growth Fund™ |
Schwab Target 2030 Fund | Schwab Small-Cap Equity Fund™ |
Schwab Target 2035 Fund | Schwab Hedged Equity Fund™ |
Schwab Target 2040 Fund | Schwab Financial Services Fund™ |
Schwab Target 2045 Fund | Schwab Health Care Fund™ |
Schwab Target 2050 Fund | Schwab ® International Core Equity Fund |
Schwab Target 2055 Fund | Schwab Fundamental US Large Company Index Fund |
Schwab ® S&P 500 Index Fund | Schwab Fundamental US Small Company Index Fund |
Schwab Small-Cap Index Fund® | Schwab Fundamental International Large Company Index Fund |
Schwab Total Stock Market Index Fund® | Schwab Fundamental International Small Company Index Fund |
Schwab International Index Fund® | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab MarketTrack Balanced Portfolio™ | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab MarketTrack Conservative Portfolio™ | Schwab ® Monthly Income Fund - Maximum Payout |
Laudus Small-Cap MarketMasters Fund™ |
Underlying Funds | Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | ||||||||||
Schwab Global Real Estate Fund | 0.5% | 1.0% | 5.9% | 5.4% | 11.6% | 5.4% | 14.5% | 1.2% | 1.0% | 0.5% | ||||||||||
Laudus International MarketMasters Fund, Select Shares | 0.2% | 0.3% | 2.2% | 2.0% | 4.4% | 2.1% | 5.6% | 0.5% | 0.4% | 0.2% | ||||||||||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | —% | —% | 0.3% | 0.7% | 2.4% | 1.4% | 4.6% | 0.4% | 0.4% | 0.2% | ||||||||||
Schwab International Core Equity Fund | 0.3% | 0.6% | 4.3% | 3.9% | 8.4% | 3.9% | 10.6% | 0.9% | 0.7% | 0.4% | ||||||||||
Laudus U.S. Large Cap Growth Fund | 0.2% | 0.3% | 2.1% | 1.8% | 3.9% | 1.8% | 4.7% | 0.4% | 0.3% | 0.2% | ||||||||||
Schwab Core Equity Fund | 0.2% | 0.4% | 2.2% | 1.9% | 4.1% | 1.9% | 5.0% | 0.4% | 0.3% | 0.2% | ||||||||||
Schwab Dividend Equity Fund | 0.1% | 0.2% | 1.2% | 1.1% | 2.4% | 1.1% | 2.8% | 0.2% | 0.2% | 0.1% | ||||||||||
Schwab S&P 500 Index Fund | 0.0%* | 0.0%* | 0.2% | 0.2% | 0.4% | 0.2% | 0.4% | 0.0%* | 0.0%* | 0.0%* | ||||||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 0.3% | 0.6% | 4.2% | 4.0% | 9.3% | 4.7% | 13.6% | 1.2% | 1.0% | 0.6% | ||||||||||
Schwab Small-Cap Equity Fund | 0.2% | 0.3% | 2.1% | 2.0% | 4.8% | 2.4% | 6.9% | 0.6% | 0.5% | 0.3% | ||||||||||
Schwab Treasury Inflation Protected Securities Index Fund | 1.5% | 2.6% | 4.6% | 0.8% | —% | —% | —% | —% | —% | —% | ||||||||||
Schwab Intermediate-Term Bond Fund | —% | —% | 1.4% | 1.5% | 3.0% | 1.2% | 2.3% | 0.1% | 0.1% | 0.0%* | ||||||||||
Schwab Total Bond Market Fund | 1.2% | 2.0% | 7.0% | 4.0% | 5.7% | 1.7% | 2.5% | 0.1% | 0.1% | 0.0%* | ||||||||||
Laudus Mondrian International Government Fixed Income Fund | 0.3% | 0.6% | 4.4% | 3.3% | 5.3% | 1.7% | 2.3% | 0.1% | 0.0%* | 0.0%* | ||||||||||
Schwab Short-Term Bond Market Fund | 1.5% | 2.7% | 7.3% | 3.3% | 3.6% | 0.8% | 0.9% | 0.0%* | 0.0%* | —% | ||||||||||
Schwab Value Advantage Money Fund, Ultra Shares (formerly named Institutional Prime Shares) | 0.0%* | 0.0%* | 0.1% | —% | —% | —% | —% | —% | —% | —% |
* | Less than 0.05% |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Global Real Estate Fund | 182,707 | 49,400 | (46,757) | 185,350 | $1,315,988 | $53,899 | $45,273 | |||||||
Laudus International MarketMasters Fund, Select Shares | 123,407 | 46,231 | (20,067) | 149,571 | 3,396,762 | 32,625 | 44,144 | |||||||
Schwab International Core Equity Fund | 184,539 | 92,714 | (37,153) | 240,100 | 2,309,762 | 18,205 | 61,765 | |||||||
Laudus U.S. Large Cap Growth Fund | 212,802 | 74,843 | (59,109) | 228,536 | 4,051,943 | 99,821 | 709,944 | |||||||
Schwab Core Equity Fund | 172,000 | 57,462 | (33,362) | 196,100 | 4,529,915 | 72,542 | 625,106 | |||||||
Schwab Dividend Equity Fund | 117,077 | 30,137 | (23,112) | 124,102 | 2,039,001 | 26,843 | 326,569 | |||||||
Schwab S&P 500 Index Fund | 124,324 | 19,457 | (31,695) | 112,086 | 3,698,851 | 93,262 | 70,879 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 41,294 | 6,366 | (15,861) | 31,799 | 563,792 | 67,925 | 16,935 | |||||||
Schwab Small-Cap Equity Fund | 56,677 | 27,502 | (33,445) | 50,734 | 1,075,049 | 121,254 | 274,816 | |||||||
Schwab Treasury Inflation Protected Securities Index Fund | 292,454 | 127,604 | (53,668) | 366,390 | 3,997,317 | 18,185 | 28,278 | |||||||
Schwab Intermediate-Term Bond Fund | 191,073 | 8,230 | (199,303) | — | — | 138,645 | 16,303 | |||||||
Schwab Total Bond Market Fund | 1,822,460 | 260,400 | (504,788) | 1,578,072 | 14,975,903 | 91,330 | 347,647 | |||||||
Laudus Mondrian International Government Fixed Income Fund | 32,199 | 23,923 | (15,078) | 41,044 | 385,816 | (5,425) | 17,156 | |||||||
Schwab Short-Term Bond Market Fund | 1,039,680 | 120,965 | (510,591) | 650,054 | 6,045,504 | 188,432 | 75,531 | |||||||
Schwab Value Advantage Money Fund, Ultra Shares (formerly named Institutional Prime Shares) | 1,968,602 | 501,048 | — | 2,469,650 | 2,469,650 | — | 1,157 | |||||||
Total | $50,855,253 | $1,017,543 | $2,661,503 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Global Real Estate Fund | 353,666 | 71,177 | (79,727) | 345,116 | $2,450,327 | $91,916 | $84,355 | |||||||
Laudus International MarketMasters Fund, Select Shares | 241,988 | 80,907 | (37,032) | 285,863 | 6,491,944 | 223,826 | 86,592 | |||||||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 33,040 | 2,246 | (35,286) | — | — | (37,512) | 7,874 | |||||||
Schwab International Core Equity Fund | 376,651 | 138,678 | (69,606) | 445,723 | 4,287,851 | (16,819) | 128,114 | |||||||
Laudus U.S. Large Cap Growth Fund | 405,274 | 142,050 | (117,904) | 429,420 | 7,613,623 | 173,019 | 1,367,679 | |||||||
Schwab Core Equity Fund | 329,482 | 104,798 | (64,402) | 369,878 | 8,544,187 | 306,949 | 1,204,507 | |||||||
Schwab Dividend Equity Fund | 221,065 | 69,032 | (59,357) | 230,740 | 3,791,065 | 133,916 | 617,466 | |||||||
Schwab S&P 500 Index Fund | 236,179 | 37,300 | (63,127) | 210,352 | 6,941,614 | 197,569 | 135,346 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 86,165 | 10,950 | (37,319) | 59,796 | 1,060,183 | 175,257 | 35,649 | |||||||
Schwab Small-Cap Equity Fund | 117,199 | 50,376 | (72,789) | 94,786 | 2,008,519 | 366,846 | 568,040 | |||||||
Schwab Treasury Inflation Protected Securities Index Fund | 457,480 | 240,946 | (62,168) | 636,258 | 6,941,578 | 45,776 | 43,720 | |||||||
Schwab Intermediate-Term Bond Fund | 340,825 | 36,036 | (376,861) | — | — | 39,744 | 29,027 | |||||||
Schwab Total Bond Market Fund | 2,966,453 | 473,106 | (723,678) | 2,715,881 | 25,773,712 | 144,758 | 582,343 | |||||||
Laudus Mondrian International Government Fixed Income Fund | 81,493 | 44,125 | (39,532) | 86,086 | 809,206 | (20,612) | 36,354 | |||||||
Schwab Short-Term Bond Market Fund | 1,541,262 | 323,870 | (750,072) | 1,115,060 | 10,370,055 | 119,471 | 122,579 | |||||||
Schwab Value Advantage Money Fund, Ultra Shares (formerly named Institutional Prime Shares) | 2,691,884 | 1,001,380 | (1,000,000) | 2,693,264 | 2,693,264 | — | 1,495 | |||||||
Total | $89,777,128 | $1,944,104 | $5,051,140 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Global Real Estate Fund | 2,058,638 | 255,555 | (178,458) | 2,135,735 | $15,163,716 | $151,135 | $511,847 | |||||||
Laudus International MarketMasters Fund, Select Shares | 1,448,274 | 513,075 | (57,730) | 1,903,619 | 43,231,176 | 257,799 | 526,311 | |||||||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 415,864 | 84,404 | (296,295) | 203,973 | 1,444,131 | 154,682 | 99,981 | |||||||
Schwab International Core Equity Fund | 2,266,999 | 826,534 | (90,284) | 3,003,249 | 28,891,254 | (31,307) | 778,473 | |||||||
Laudus U.S. Large Cap Growth Fund | 2,307,052 | 681,448 | (375,597) | 2,612,903 | 46,326,768 | 561,008 | 7,814,562 | |||||||
Schwab Core Equity Fund | 1,886,193 | 532,561 | (177,911) | 2,240,843 | 51,763,488 | 1,103,678 | 6,962,070 | |||||||
Schwab Dividend Equity Fund | 1,242,032 | 316,916 | (154,006) | 1,404,942 | 23,083,194 | 371,126 | 3,527,912 | |||||||
Schwab S&P 500 Index Fund | 1,327,968 | 160,469 | (212,283) | 1,276,154 | 42,113,088 | 586,131 | 767,779 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 581,124 | 47,994 | (224,454) | 404,664 | 7,174,692 | 1,472,878 | 239,975 | |||||||
Schwab Small-Cap Equity Fund | 785,522 | 285,908 | (445,734) | 625,696 | 13,258,509 | 2,071,313 | 3,784,075 | |||||||
Schwab Treasury Inflation Protected Securities Index Fund | 1,401,642 | 488,382 | (747,283) | 1,142,741 | 12,467,301 | 340,637 | 137,363 | |||||||
Schwab Intermediate-Term Bond Fund | 1,475,652 | 262,018 | (1,270,069) | 467,601 | 4,774,201 | 261,235 | 180,854 | |||||||
Schwab Total Bond Market Fund | 9,982,914 | 2,616,456 | (3,030,703) | 9,568,667 | 90,806,651 | 415,259 | 2,047,740 | |||||||
Laudus Mondrian International Government Fixed Income Fund | 502,623 | 173,493 | (31,958) | 644,158 | 6,055,089 | (2,752) | 247,726 | |||||||
Schwab Short-Term Bond Market Fund | 4,022,647 | 754,416 | (1,727,172) | 3,049,891 | 28,363,983 | 284,917 | 329,500 | |||||||
Schwab Value Advantage Money Fund, Ultra Shares (formerly named Institutional Prime Shares) | 5,000,430 | 3,003,167 | — | 8,003,597 | 8,003,597 | — | 3,525 | |||||||
Total | $422,920,838 | $7,997,739 | $27,959,693 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Global Real Estate Fund | 1,654,273 | 467,489 | (167,115) | 1,954,647 | $13,877,993 | $130,096 | $434,589 | |||||||
Laudus International MarketMasters Fund, Select Shares | 1,177,278 | 560,082 | (4,205) | 1,733,155 | 39,359,940 | 8,621 | 432,998 | |||||||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 499,531 | 120,623 | (157,930) | 462,224 | 3,272,543 | (88,462) | 122,439 | |||||||
Schwab International Core Equity Fund | 1,845,200 | 936,171 | (32,328) | 2,749,043 | 26,445,789 | 15,862 | 646,494 | |||||||
Laudus U.S. Large Cap Growth Fund | 1,810,717 | 665,346 | (145,817) | 2,330,246 | 41,315,255 | 257,716 | 6,252,854 | |||||||
Schwab Core Equity Fund | 1,493,786 | 570,952 | (77,248) | 1,987,490 | 45,911,028 | 147,603 | 5,554,838 | |||||||
Schwab Dividend Equity Fund | 967,290 | 363,162 | (68,590) | 1,261,862 | 20,732,395 | 13,144 | 2,797,306 | |||||||
Schwab S&P 500 Index Fund | 1,041,807 | 215,880 | (121,641) | 1,136,046 | 37,489,504 | 446,266 | 612,535 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 512,156 | 81,987 | (206,913) | 387,230 | 6,865,592 | 739,353 | 214,648 | |||||||
Schwab Small-Cap Equity Fund | 693,545 | 277,742 | (361,895) | 609,392 | 12,913,018 | 1,964,045 | 3,367,751 | |||||||
Schwab Treasury Inflation Protected Securities Index Fund | 656,234 | 193,530 | (655,434) | 194,330 | 2,120,136 | (102,917) | 65,200 | |||||||
Schwab Intermediate-Term Bond Fund | 903,044 | 241,995 | (637,709) | 507,330 | 5,179,836 | 54,033 | 134,563 | |||||||
Schwab Total Bond Market Fund | 5,027,329 | 2,456,938 | (2,004,539) | 5,479,728 | 52,002,615 | 248,603 | 1,126,129 | |||||||
Laudus Mondrian International Government Fixed Income Fund | 331,802 | 181,579 | (24,599) | 488,782 | 4,594,555 | 1,722 | 157,826 | |||||||
Schwab Short-Term Bond Market Fund | 1,679,074 | 433,810 | (732,934) | 1,379,950 | 12,833,537 | 23,080 | 143,531 | |||||||
Total | $324,913,736 | $3,858,765 | $22,063,701 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Global Real Estate Fund | 3,890,065 | 695,820 | (366,063) | 4,219,822 | $29,960,737 | $278,772 | $986,670 | |||||||
Laudus International MarketMasters Fund, Select Shares | 2,803,203 | 995,504 | (20,526) | 3,778,181 | 85,802,501 | 53,161 | 1,005,644 | |||||||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 1,487,245 | 213,449 | (211,540) | 1,489,154 | 10,543,212 | 433,261 | 355,545 | |||||||
Schwab International Core Equity Fund | 4,348,656 | 1,672,030 | (83,284) | 5,937,402 | 57,117,811 | 75,502 | 1,503,892 | |||||||
Laudus U.S. Large Cap Growth Fund | 4,202,473 | 1,221,213 | (466,682) | 4,957,004 | 87,887,678 | 811,379 | 14,090,231 | |||||||
Schwab Core Equity Fund | 3,450,450 | 979,289 | (204,257) | 4,225,482 | 97,608,626 | 1,196,667 | 12,725,153 | |||||||
Schwab Dividend Equity Fund | 2,235,575 | 616,113 | (171,760) | 2,679,928 | 44,031,221 | 443,867 | 6,370,991 | |||||||
Schwab S&P 500 Index Fund | 2,390,764 | 250,547 | (227,049) | 2,414,262 | 79,670,654 | 711,318 | 1,374,859 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 1,279,435 | 106,240 | (493,754) | 891,921 | 15,813,760 | 3,675,487 | 524,696 | |||||||
Schwab Small-Cap Equity Fund | 1,755,081 | 509,303 | (846,165) | 1,418,219 | 30,052,067 | 5,386,499 | 8,264,386 | |||||||
Schwab Treasury Inflation Protected Securities Index Fund | 939,055 | 43,961 | (983,016) | — | — | 5,366 | 91,723 | |||||||
Schwab Intermediate-Term Bond Fund | 1,517,416 | 277,968 | (754,160) | 1,041,224 | 10,630,899 | 88,262 | 248,503 | |||||||
Schwab Total Bond Market Fund | 8,104,012 | 3,123,683 | (3,520,713) | 7,706,982 | 73,139,262 | 523,067 | 1,652,619 | |||||||
Laudus Mondrian International Government Fixed Income Fund | 554,624 | 226,106 | — | 780,730 | 7,338,866 | — | 261,491 | |||||||
Schwab Short-Term Bond Market Fund | 2,167,151 | 270,250 | (921,106) | 1,516,295 | 14,101,546 | 28,903 | 168,144 | |||||||
Total | $643,698,840 | $13,711,511 | $49,624,547 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Global Real Estate Fund | 1,641,505 | 469,466 | (145,750) | 1,965,221 | $13,953,068 | $214,551 | $432,404 | |||||||
Laudus International MarketMasters Fund, Select Shares | 1,186,085 | 580,170 | — | 1,766,255 | 40,111,661 | — | 432,218 | |||||||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 752,760 | 210,387 | (69,669) | 893,478 | 6,325,823 | 99,872 | 182,757 | |||||||
Schwab International Core Equity Fund | 1,843,020 | 937,851 | — | 2,780,871 | 26,751,976 | — | 644,095 | |||||||
Laudus U.S. Large Cap Growth Fund | 1,737,627 | 644,014 | (108,716) | 2,272,925 | 40,298,967 | 212,184 | 5,969,027 | |||||||
Schwab Core Equity Fund | 1,438,310 | 514,837 | (12,893) | 1,940,254 | 44,819,871 | 54,585 | 5,342,860 | |||||||
Schwab Dividend Equity Fund | 926,642 | 327,708 | (34,236) | 1,220,114 | 20,046,466 | 7,495 | 2,657,779 | |||||||
Schwab S&P 500 Index Fund | 991,827 | 210,096 | (95,538) | 1,106,385 | 36,510,712 | 323,399 | 578,330 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 568,739 | 96,468 | (215,064) | 450,143 | 7,981,039 | 991,954 | 240,446 | |||||||
Schwab Small-Cap Equity Fund | 783,366 | 273,862 | (349,524) | 707,704 | 14,996,238 | 1,929,280 | 3,718,987 | |||||||
Schwab Treasury Inflation Protected Securities Index Fund | 252,080 | 15,279 | (267,359) | — | — | (35,244) | 24,947 | |||||||
Schwab Intermediate-Term Bond Fund | 419,647 | 158,180 | (157,941) | 419,886 | 4,287,040 | 16,981 | 83,243 | |||||||
Schwab Total Bond Market Fund | 2,148,005 | 1,162,603 | (1,055,359) | 2,255,249 | 21,402,312 | 158,689 | 464,033 | |||||||
Laudus Mondrian International Government Fixed Income Fund | 129,325 | 120,294 | — | 249,619 | 2,346,420 | — | 62,810 | |||||||
Schwab Short-Term Bond Market Fund | 511,375 | 104,719 | (285,052) | 331,042 | 3,078,688 | 12,948 | 38,445 | |||||||
Total | $282,910,281 | $3,986,694 | $20,872,381 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Global Real Estate Fund | 4,779,252 | 856,957 | (389,673) | 5,246,536 | $37,250,406 | $660,027 | $1,231,522 | |||||||
Laudus International MarketMasters Fund, Select Shares | 3,454,154 | 1,279,183 | — | 4,733,337 | 107,494,088 | — | 1,247,244 | |||||||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 2,500,623 | 477,880 | (105,841) | 2,872,662 | 20,338,444 | 181,378 | 600,555 | |||||||
Schwab International Core Equity Fund | 5,400,807 | 2,072,390 | (21,810) | 7,451,387 | 71,682,346 | 8,070 | 1,861,776 | |||||||
Laudus U.S. Large Cap Growth Fund | 5,021,116 | 1,328,599 | (390,491) | 5,959,224 | 105,657,049 | 712,598 | 16,902,503 | |||||||
Schwab Core Equity Fund | 4,121,548 | 1,080,480 | (109,700) | 5,092,328 | 117,632,777 | 920,389 | 15,255,911 | |||||||
Schwab Dividend Equity Fund | 2,649,099 | 679,178 | (153,895) | 3,174,382 | 52,155,094 | 639,830 | 7,564,998 | |||||||
Schwab S&P 500 Index Fund | 2,836,058 | 232,497 | (169,738) | 2,898,817 | 95,660,952 | 547,502 | 1,636,613 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 1,732,691 | 161,718 | (594,961) | 1,299,448 | 23,039,214 | 4,203,650 | 715,694 | |||||||
Schwab Small-Cap Equity Fund | 2,375,824 | 681,494 | (1,013,712) | 2,043,606 | 43,304,004 | 6,085,862 | 11,121,881 | |||||||
Schwab Treasury Inflation Protected Securities Index Fund | 366,838 | 3,115 | (369,953) | — | — | 103,736 | 34,519 | |||||||
Schwab Intermediate-Term Bond Fund | 671,685 | 156,983 | (29,240) | 799,428 | 8,162,159 | 1,990 | 153,156 | |||||||
Schwab Total Bond Market Fund | 3,538,065 | 1,630,155 | (1,813,960) | 3,354,260 | 31,831,927 | 303,682 | 716,016 | |||||||
Laudus Mondrian International Government Fixed Income Fund | 115,319 | 227,415 | (11,247) | 331,487 | 3,115,975 | (10,460) | 61,309 | |||||||
Schwab Short-Term Bond Market Fund | 917,303 | 93,397 | (638,587) | 372,113 | 3,460,651 | 24,942 | 48,104 | |||||||
Total | $720,785,086 | $14,383,196 | $59,151,801 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Global Real Estate Fund | 263,963 | 201,368 | (35,306) | 430,025 | $3,053,176 | ($18,849) | $79,787 | |||||||
Laudus International MarketMasters Fund, Select Shares | 191,087 | 198,825 | (1,100) | 388,812 | 8,829,933 | (3,437) | 73,357 | |||||||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 147,461 | 121,928 | (9,097) | 260,292 | 1,842,865 | (14,402) | 37,905 | |||||||
Schwab International Core Equity Fund | 296,812 | 335,523 | (20,354) | 611,981 | 5,887,256 | (18,878) | 109,922 | |||||||
Laudus U.S. Large Cap Growth Fund | 274,441 | 219,635 | (11,344) | 482,732 | 8,558,837 | (25,441) | 988,450 | |||||||
Schwab Core Equity Fund | 225,804 | 193,515 | (6,820) | 412,499 | 9,528,728 | (29,304) | 879,356 | |||||||
Schwab Dividend Equity Fund | 145,377 | 122,497 | (9,949) | 257,925 | 4,237,708 | (33,220) | 446,505 | |||||||
Schwab S&P 500 Index Fund | 155,822 | 91,322 | (12,346) | 234,798 | 7,748,334 | (19,118) | 95,155 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 98,072 | 40,644 | (27,579) | 111,137 | 1,970,465 | 17,508 | 43,553 | |||||||
Schwab Small-Cap Equity Fund | 133,466 | 95,774 | (53,302) | 175,938 | 3,728,112 | (134,847) | 668,096 | |||||||
Schwab Treasury Inflation Protected Securities Index Fund | 10,886 | 93 | (10,979) | — | — | (1,987) | 1,024 | |||||||
Schwab Intermediate-Term Bond Fund | 19,885 | 29,483 | — | 49,368 | 504,052 | — | 6,637 | |||||||
Schwab Total Bond Market Fund | 117,794 | 121,804 | (67,445) | 172,153 | 1,633,733 | (4,035) | 30,220 | |||||||
Laudus Mondrian International Government Fixed Income Fund | 5,215 | 6,637 | — | 11,852 | 111,406 | — | 2,326 | |||||||
Schwab Short-Term Bond Market Fund | 34,422 | 8,365 | (29,898) | 12,889 | 119,872 | 780 | 1,708 | |||||||
Total | $57,754,477 | ($285,230) | $3,464,001 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Global Real Estate Fund | 221,492 | 162,214 | (29,100) | 354,606 | $2,517,704 | ($18,090) | $67,001 | |||||||
Laudus International MarketMasters Fund, Select Shares | 159,800 | 161,247 | — | 321,047 | 7,290,988 | — | 60,527 | |||||||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 129,830 | 102,809 | (2,577) | 230,062 | 1,628,837 | (4,738) | 33,005 | |||||||
Schwab International Core Equity Fund | 250,692 | 254,511 | — | 505,203 | 4,860,055 | — | 90,260 | |||||||
Laudus U.S. Large Cap Growth Fund | 227,146 | 179,200 | (11,866) | 394,480 | 6,994,125 | (19,870) | 808,683 | |||||||
Schwab Core Equity Fund | 188,842 | 149,037 | (1,934) | 335,945 | 7,760,328 | (8,913) | 720,285 | |||||||
Schwab Dividend Equity Fund | 120,704 | 100,257 | (8,831) | 212,130 | 3,485,300 | (24,957) | 363,593 | |||||||
Schwab S&P 500 Index Fund | 129,342 | 71,404 | (8,827) | 191,919 | 6,333,341 | (12,194) | 78,008 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 83,183 | 36,097 | (23,002) | 96,278 | 1,707,011 | 10,389 | 36,347 | |||||||
Schwab Small-Cap Equity Fund | 114,073 | 75,858 | (40,271) | 149,660 | 3,171,298 | (98,803) | 556,311 | |||||||
Schwab Treasury Inflation Protected Securities Index Fund | 2,539 | 566 | (3,105) | — | — | (123) | 290 | |||||||
Schwab Intermediate-Term Bond Fund | 9,960 | 20,029 | (4,897) | 25,092 | 256,192 | (388) | 3,216 | |||||||
Schwab Total Bond Market Fund | 61,139 | 74,471 | (49,725) | 85,885 | 815,044 | (2,258) | 14,947 | |||||||
Laudus Mondrian International Government Fixed Income Fund | 2,945 | 4,227 | — | 7,172 | 67,420 | — | 1,443 | |||||||
Schwab Short-Term Bond Market Fund | 18,859 | 6,003 | (20,114) | 4,748 | 44,156 | 783 | 813 | |||||||
Total | $46,931,799 | ($179,162) | $2,834,729 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Global Real Estate Fund | 120,724 | 97,709 | (20,214) | 198,219 | $1,407,356 | ($10,694) | $36,509 | |||||||
Laudus International MarketMasters Fund, Select Shares | 87,694 | 92,704 | (779) | 179,619 | 4,079,145 | (2,403) | 33,540 | |||||||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 73,790 | 64,142 | (1,319) | 136,613 | 967,220 | (1,643) | 18,985 | |||||||
Schwab International Core Equity Fund | 136,701 | 145,948 | — | 282,649 | 2,719,086 | — | 49,765 | |||||||
Laudus U.S. Large Cap Growth Fund | 123,392 | 99,984 | (5,106) | 218,270 | 3,869,926 | (11,646) | 443,270 | |||||||
Schwab Core Equity Fund | 102,588 | 84,692 | (499) | 186,781 | 4,314,634 | (2,184) | 393,888 | |||||||
Schwab Dividend Equity Fund | 65,612 | 54,243 | (4,130) | 115,725 | 1,901,357 | (10,410) | 198,562 | |||||||
Schwab S&P 500 Index Fund | 70,350 | 41,936 | (6,168) | 106,118 | 3,501,889 | (5,690) | 42,976 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 46,684 | 21,619 | (13,062) | 55,241 | 979,429 | 7,261 | 20,332 | |||||||
Schwab Small-Cap Equity Fund | 62,882 | 44,214 | (19,549) | 87,547 | 1,855,111 | (49,406) | 310,080 | |||||||
Schwab Treasury Inflation Protected Securities Index Fund | 677 | 6 | (683) | — | — | (267) | 64 | |||||||
Schwab Intermediate-Term Bond Fund | 792 | 9,047 | (3,330) | 6,509 | 66,459 | (196) | 572 | |||||||
Schwab Total Bond Market Fund | 17,508 | 21,758 | (18,190) | 21,076 | 200,011 | 304 | 3,461 | |||||||
Laudus Mondrian International Government Fixed Income Fund | 454 | 1,990 | — | 2,444 | 22,971 | — | 202 | |||||||
Schwab Short-Term Bond Market Fund | 4,666 | 546 | (5,212) | — | — | 359 | 85 | |||||||
Total | $25,884,594 | ($86,615) | $1,552,291 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Purchases of Securities | Sales/Maturities of Securities | ||
Schwab Target 2010 Fund | $23,759,442 | $21,115,094 | |
Schwab Target 2015 Fund | 43,297,086 | 36,515,022 | |
Schwab Target 2020 Fund | 182,231,671 | 126,454,000 | |
Schwab Target 2025 Fund | 154,574,274 | 76,852,000 | |
Schwab Target 2030 Fund | 235,054,683 | 141,791,643 | |
Schwab Target 2035 Fund | 112,060,757 | 43,235,012 | |
Schwab Target 2040 Fund | 207,672,998 | 101,282,782 | |
Schwab Target 2045 Fund | 32,271,906 | 5,268,753 | |
Schwab Target 2050 Fund | 24,718,678 | 3,582,430 | |
Schwab Target 2055 Fund | 13,591,354 | 1,767,092 |
Current Period (11/1/14-10/31/15) | Prior Period (11/1/13-10/31/14) | ||
Schwab Target 2010 Fund | $197 | $794 | |
Schwab Target 2015 Fund | 8,500 | 15,988 | |
Schwab Target 2020 Fund | 11,522 | 3,150 | |
Schwab Target 2025 Fund | 3,821 | 6,611 | |
Schwab Target 2030 Fund | 12,726 | 6,510 | |
Schwab Target 2035 Fund | 5,806 | 8,744 | |
Schwab Target 2040 Fund | 14,122 | 16,557 | |
Schwab Target 2045 Fund | 2,334 | 2,375 | |
Schwab Target 2050 Fund | 1,871 | 3,231 | |
Schwab Target 2055 Fund | 1,743 | 646 |
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |||||||
Undistributed ordinary income | $513,057 | $1,228,240 | $3,585,956 | $3,641,427 | $6,945,710 | $2,469,148 | $5,527,725 | ||||||
Undistributed long-term capital gains | — | 5,050,555 | 18,649,155 | 17,845,235 | 48,704,285 | 17,811,793 | 57,368,336 | ||||||
Unrealized appreciation on investments | 6,947,010 | 10,369,539 | 69,315,588 | 38,685,746 | 131,978,392 | 35,869,490 | 146,425,614 | ||||||
Unrealized depreciation on investments | (291,641) | (655,795) | (3,814,936) | (3,344,075) | (7,306,979) | (3,064,473) | (7,091,354) | ||||||
Net unrealized appreciation (depreciation) | $6,655,369 | $9,713,744 | $65,500,652 | $35,341,671 | $124,671,413 | $32,805,017 | $139,334,260 |
Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | |||
Undistributed ordinary income | $124,813 | $84,614 | $35,305 | ||
Undistributed long-term capital gains | 2,410,539 | 1,982,958 | 1,092,323 | ||
Unrealized appreciation on investments | 1,535,866 | 1,331,269 | 709,302 | ||
Unrealized depreciation on investments | (996,267) | (813,727) | (467,238) | ||
Net unrealized appreciation (depreciation) | $539,599 | $517,542 | $242,064 |
Expiration Date | Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |||||||
October 31, 2017 | $9,254,129 | $— | $— | $— | $— | $— | $— | |||||||
Total | $9,254,129 | $— | $— | $— | $— | $— | $— |
Expiration Date | Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | |||
October 31, 2017 | $— | $— | $— | |||
Total | $— | $— | $— |
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |||||||
Capital loss carryforwards utilized | $2,815,718 | $— | $9,786,763 | $— | $— | $— | $— |
Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | |||
Capital loss carryforwards utilized | $— | $— | $— |
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |||||||
Current period distributions | |||||||||||||
Ordinary income | $1,277,875 | $2,842,263 | $10,865,751 | $9,644,844 | $16,692,788 | $7,810,087 | $18,123,716 | ||||||
Long-term capital gains | — | 4,404,370 | — | 9,175,384 | 9,243,382 | 9,125,690 | 16,937,962 | ||||||
Return of capital | — | — | — | — | — | — | — | ||||||
Prior period distributions | |||||||||||||
Ordinary income | $1,036,165 | $1,610,833 | $7,213,636 | $4,339,215 | $10,903,512 | $3,570,560 | $11,083,321 | ||||||
Long-term capital gains | — | — | — | — | — | — | — | ||||||
Return of capital | — | — | — | — | — | — | — |
Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | |||
Current period distributions | |||||
Ordinary income | $1,032,882 | $830,660 | $449,182 | ||
Long-term capital gains | 569,067 | 451,787 | 247,620 | ||
Return of capital | — | — | — | ||
Prior period distributions | |||||
Ordinary income | $312,358 | $246,172 | $131,185 | ||
Long-term capital gains | — | — | — | ||
Return of capital | — | — | — |
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |||||||
Capital shares | $— | $— | $— | $— | $— | $— | $— | ||||||
Undistributed net investment income | 275,140 | 539,084 | 3,184,038 | 2,620,841 | 6,078,644 | 2,607,813 | 7,529,935 | ||||||
Net realized capital gains (losses) | (275,140) | (539,084) | (3,184,038) | (2,620,841) | (6,078,644) | (2,607,813) | (7,529,935) |
Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | |||
Capital shares | $— | $— | $— | ||
Undistributed net investment income | 441,629 | 363,009 | 199,849 | ||
Net realized capital gains (losses) | (441,629) | (363,009) | (199,849) |
Schwab Target 2010 Fund
Schwab Target 2015 Fund
Schwab Target 2020 Fund
Schwab Target 2025 Fund
Schwab Target 2030 Fund
Schwab Target 2035 Fund
Schwab Target 2040 Fund
Schwab Target 2045 Fund
Schwab Target 2050 Fund
Schwab Target 2055 Fund
San Francisco, California
December 16, 2015
Percentage | |
Schwab Target 2010 Fund | 18.30 |
Schwab Target 2015 Fund | 20.31 |
Schwab Target 2020 Fund | 24.41 |
Schwab Target 2025 Fund | 21.56 |
Schwab Target 2030 Fund | 26.63 |
Schwab Target 2035 Fund | 26.38 |
Schwab Target 2040 Fund | 30.56 |
Schwab Target 2045 Fund | 34.91 |
Schwab Target 2050 Fund | 35.84 |
Schwab Target 2055 Fund | 36.78 |
Schwab Target 2010 Fund | $338,880 |
Schwab Target 2015 Fund | 668,174 |
Schwab Target 2020 Fund | 3,892,388 |
Schwab Target 2025 Fund | 3,106,000 |
Schwab Target 2030 Fund | 6,636,851 |
Schwab Target 2035 Fund | 3,113,291 |
Schwab Target 2040 Fund | 8,357,433 |
Schwab Target 2045 Fund | 539,540 |
Schwab Target 2050 Fund | 446,717 |
Schwab Target 2055 Fund | 248,726 |
Schwab Target 2010 Fund | $— |
Schwab Target 2015 Fund | 4,404,370 |
Schwab Target 2020 Fund | — |
Schwab Target 2025 Fund | 9,175,384 |
Schwab Target 2030 Fund | 9,243,382 |
Schwab Target 2035 Fund | 9,125,690 |
Schwab Target 2040 Fund | 16,937,962 |
Schwab Target 2045 Fund | 569,067 |
Schwab Target 2050 Fund | 451,787 |
Schwab Target 2055 Fund | 247,620 |
The Investment Company Act of 1940 (the 1940 Act) requires that initial approval of, as well as the continuation of, a fund’s investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or “interested persons” of any party (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund’s trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.
1. | the nature, extent and quality of the services provided to the Funds under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 74 | Director, Gilead Sciences, Inc. (2005 – present) |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Private Investor. | 74 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013) | 74 | Director, KLA-Tencor Corporation (2008 – present) |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 95 | None |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 74 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 74 | Board Member and Chairman of the Audit Committee, Isis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Charles R. Schwab2 1937 Chairman and Trustee (Chairman and Trustee of The Charles Schwab Family of Funds since 1989; Schwab Investments since 1991; Schwab Capital Trust since 1993; Schwab Annuity Portfolios since 1994; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman and Director, The Charles Schwab Corporation (1986 – present); Chairman and Director of Charles Schwab & Co., Inc. (1971 – present); Chairman and Director of Charles Schwab Investment Management, Inc. (1989 – present); Chairman and Director of Charles Schwab Bank (2003 – present); Chairman and Chief Executive Officer of Schwab (SIS) Holdings Inc. I and Schwab International Holdings, Inc. (1996 – present); and Director, Chairman and Chief Executive Officer, Schwab Holdings, Inc. (1979 – present). | 74 | Chairman and Director, The Charles Schwab Corporation (1986 – present) Director, Yahoo! Inc. (2014 – present) |
Walter W. Bettinger II2 1960 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (2008 – present); Director, Charles Schwab Bank (2006 – present); and Director, Schwab Holdings, Inc. (2008 – present). | 95 | Director, The Charles Schwab Corporation (2008 – present) |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
George Pereira 1964 Treasurer and Principal Financial Officer, Schwab Funds Treasurer and Chief Financial Officer, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust and Laudus Institutional Trust since 2006) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – present); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – present) and Schwab ETFs (Oct. 2009 – present); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (April 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – April 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (April 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (April 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (April 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2005) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Trustees remain in office until they resign, retire or are removed by shareholder vote. The Schwab and Laudus Funds’ retirement policy requires that independent trustees retire at age 72 or after twenty years as a trustee, whichever comes first. In addition, the retirement policy requires any independent trustee of Schwab Funds or Laudus Funds to retire from all Boards upon their required retirement date from either Board. |
2 | Mr. Schwab and Mr. Bettinger are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Boards. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Schwab Dividend Equity Fund™
Schwab Large-Cap Growth Fund™
Schwab Small-Cap Equity Fund™
Schwab Hedged Equity Fund™
Schwab Financial Services Fund™
Schwab Health Care Fund™
Schwab® International Core Equity Fund
Schwab Fundamental US Large Company Index Fund
Schwab Fundamental US Small Company Index Fund
Schwab Fundamental International Large Company Index Fund
Schwab Fundamental International Small Company Index Fund
Schwab Fundamental Emerging Markets Large Company Index Fund
Schwab Fundamental Global Real Estate Index Fund
Schwab Global Real Estate Fund™
Schwab® S&P 500 Index Fund
Schwab 1000 Index® Fund
Schwab Small-Cap Index Fund®
Schwab Total Stock Market Index Fund®
Schwab International Index Fund®
Schwab MarketTrack All Equity Portfolio™
Schwab MarketTrack Growth Portfolio™
Schwab MarketTrack Balanced Portfolio™
Schwab MarketTrack Conservative Portfolio™
Schwab Target 2010 Fund
Schwab Target 2015 Fund
Schwab Target 2020 Fund
Schwab Target 2025 Fund
Schwab Target 2030 Fund
Schwab Target 2035 Fund
Schwab Target 2040 Fund
Schwab Target 2045 Fund
Schwab Target 2050 Fund
Schwab Target 2055 Fund
Schwab® Monthly Income Fund – Moderate Payout
Schwab® Monthly Income Fund – Enhanced Payout
Schwab® Monthly Income Fund – Maximum Payout
Schwab Intermediate-Term Bond Fund™
Schwab Total Bond Market Fund™
Schwab GNMA Fund™
Schwab® Treasury Inflation Protected Securities Index Fund
Schwab Tax-Free Bond Fund™
Schwab California Tax-Free Bond Fund™
1 | Investments in money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency and, although they seek to preserve the value of your investment at $1 per share, it is possible to lose money. |
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2 | |
3 | |
5 | |
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8 | |
9 | |
14 | |
23 | |
24 | |
25 | |
27 | |
30 |
Total Return for the 12 Months Ended October 31, 2015 | |
Schwab Balanced Fund (Ticker Symbol: SWOBX) | 3.95% |
Balanced Blended Index | 3.61% |
Fund Category: Morningstar Moderate Allocation | 0.61% |
Performance Details | pages 6-7 |
Minimum Initial Investment1 | $100 |
1 | Please see the fund's prospectus for further detail and eligibility requirements. |
Zifan Tang, Ph.D., CFA, Managing Director and Head of Asset Allocation Strategies, leads the portfolio management team and has overall responsibility for all aspects of the management of the fund. She was appointed portfolio manager of the fund in February 2012. Prior to joining CSIM in 2012, Ms. Tang was a product manager at Thomson Reuters and, from 1997 to 2009, worked as a portfolio manager at Barclays Global Investors, which was subsequently acquired by BlackRock. |
Statistics | |
Number of Holdings | 6 |
Portfolio Turnover Rate | 5% |
Asset Class Weightings % of Investments | |
Equity Funds – Large-Cap | 50.3% |
Fixed-Income Funds – Intermediate-Term Bond | 36.3% |
Equity Funds – Small-Cap | 10.4% |
Money Market Funds | 3.0% |
Total | 100.0% |
Top Holdings % of Net Assets1,2 | |
Schwab Core Equity Fund | 35.1% |
Schwab Total Bond Market Fund | 24.6% |
Laudus U.S. Large Cap Growth Fund | 15.1% |
Schwab Intermediate-Term Bond Fund | 11.7% |
Laudus Small-Cap MarketMasters Fund, Select Shares | 10.4% |
Total | 96.9% |
1 | This list is not a recommendation of any security by the investment adviser. |
2 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Balanced Fund (11/18/96) | 3.95% | 9.37% | 5.80% |
Balanced Blended Index | 3.61% | 9.56% | 6.73% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Barclays U.S. Aggregate Bond Index | 1.96% | 3.03% | 4.72% |
Fund Category: Morningstar Moderate Allocation | 0.61% | 7.75% | 5.74% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund's returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.62%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio1 (Annualized) | Beginning Account Value at 5/1/15 | Ending Account Value (Net of Expenses) at 10/31/15 | Expenses Paid During Period2 5/1/15–10/31/15 | |
Schwab Balanced Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,000.00 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights. The expenses incurred by the underlying funds in which the fund invests are not included in this ratio. |
2 | Expenses for the fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 365 days of the fiscal year. |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.56 | $14.28 | $12.51 | $11.61 | $11.00 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.18 | 0.16 | 0.14 | 0.19 | 0.17 | |
Net realized and unrealized gains (losses) | 0.42 | 1.33 | 1.85 | 0.88 | 0.63 | |
Total from investment operations | 0.60 | 1.49 | 1.99 | 1.07 | 0.80 | |
Less distributions: | ||||||
Distributions from net investment income | (0.34) | (0.21) | (0.22) | (0.17) | (0.19) | |
Distributions from net realized gains | (0.42) | — | — | — | — | |
Total distributions | (0.76) | (0.21) | (0.22) | (0.17) | (0.19) | |
Net asset value at end of period | $15.40 | $15.56 | $14.28 | $12.51 | $11.61 | |
Total return | 3.95% | 10.52% | 16.13% | 9.36% | 7.28% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2,3 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
Gross operating expenses2 | 0.07% | 0.09% | 0.10% | 0.16% | 0.16% | |
Net investment income (loss) | 1.18% | 1.09% | 1.06% | 1.54% | 1.52% | |
Portfolio turnover rate | 5% | 27% | 33% | 38% | 53% | |
Net assets, end of period (x 1,000,000) | $305 | $202 | $165 | $117 | $109 | |
Holdings by Category | Cost ($) | Value ($) | |
99.9% | Other Investment Companies | 276,492,728 | 305,029,454 |
99.9% | Total Investments | 276,492,728 | 305,029,454 |
0.1% | Other Assets and Liabilities, Net | 440,578 | |
100.0% | Net Assets | 305,470,032 |
Security | Number of Shares | Value ($) |
Other Investment Companies 99.9% of net assets | ||
Equity Funds 60.6% | ||
Large-Cap 50.2% | ||
Laudus U.S. Large Cap Growth Fund *(a) | 2,611,438 | 46,300,784 |
Schwab Core Equity Fund (a) | 4,640,638 | 107,198,741 |
153,499,525 |
Security | Number of Shares | Value ($) |
Small-Cap 10.4% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares (a) | 1,791,811 | 31,768,809 |
185,268,334 | ||
Fixed-Income Funds 36.3% | ||
Intermediate-Term Bond 36.3% | ||
Schwab Intermediate-Term Bond Fund (a) | 3,504,525 | 35,781,196 |
Schwab Total Bond Market Fund (a) | 7,899,025 | 74,961,752 |
110,742,948 | ||
Money Market Fund 3.0% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (b) | 9,018,172 | 9,018,172 |
Total Other Investment Companies | ||
(Cost $276,492,728) | 305,029,454 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $305,029,454 | $— | $— | $305,029,454 | |||||
Total | $305,029,454 | $— | $— | $305,029,454 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $267,474,556) | $296,011,282 | |
Investments in unaffiliated issuers, at value (cost $9,018,172) | + | 9,018,172 |
Total investments, at value (cost $276,492,728) | 305,029,454 | |
Receivables: | ||
Investments sold | 2,420,000 | |
Fund shares sold | 1,083,387 | |
Dividends | 183,971 | |
Due from investment adviser | 2,627 | |
Prepaid expenses | + | 18,067 |
Total assets | 308,737,506 | |
Liabilities | ||
Payables: | ||
Investments bought | 2,999,836 | |
Fund shares redeemed | 211,360 | |
Accrued expenses | + | 56,278 |
Total liabilities | 3,267,474 | |
Net Assets | ||
Total assets | 308,737,506 | |
Total liabilities | – | 3,267,474 |
Net assets | $305,470,032 | |
Net Assets by Source | ||
Capital received from investors | 263,802,473 | |
Net investment income not yet distributed | 1,469,990 | |
Net realized capital gains | 11,660,843 | |
Net unrealized capital appreciation | 28,536,726 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$305,470,032 | 19,839,313 | $15.40 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $2,860,030 | |
Expenses | ||
Shareholder reports | 48,518 | |
Professional fees | 33,294 | |
Transfer agent fees | 28,200 | |
Registration fees | 27,086 | |
Portfolio accounting fees | 19,246 | |
Independent trustees' fees | 7,945 | |
Custodian fees | 3,252 | |
Proxy fees | 2,895 | |
Other expenses | + | 6,300 |
Total expenses | 176,736 | |
Expense reduction by CSIM | – | 173,841 |
Net expenses | – | 2,895 |
Net investment income | 2,857,135 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 15,711,636 | |
Net realized gains on sales of affiliated underlying funds | 674,481 | |
Net realized gains on unaffiliated issuers | + | 701 |
Net realized gains | 16,386,818 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (9,772,217) |
Net realized and unrealized gains | 6,614,601 | |
Increase in net assets resulting from operations | $9,471,736 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $2,857,135 | $2,038,921 | |
Net realized gains | 16,386,818 | 9,604,665 | |
Net change in unrealized appreciation (depreciation) | + | (9,772,217) | 7,261,754 |
Increase in net assets from operations | 9,471,736 | 18,905,340 | |
Distributions to Shareholders | |||
Distributions from net investment income | (4,612,433) | (2,313,152) | |
Distributions from net realized gains | + | (5,780,880) | — |
Total distributions | ($10,393,313) | ($2,313,152) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 9,167,626 | $139,981,488 | 5,653,883 | $82,981,901 | |
Shares reinvested | 628,361 | 9,532,242 | 147,616 | 2,143,378 | |
Shares redeemed | + | (2,913,119) | (44,685,668) | (4,387,683) | (64,959,175) |
Net transactions in fund shares | 6,882,868 | $104,828,062 | 1,413,816 | $20,166,104 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 12,956,445 | $201,563,547 | 11,542,629 | $164,805,255 | |
Total increase | + | 6,882,868 | 103,906,485 | 1,413,816 | 36,758,292 |
End of period | 19,839,313 | $305,470,032 | 12,956,445 | $201,563,547 | |
Net investment income not yet distributed | $1,469,990 | $1,157,827 |
Schwab Capital Trust (organized May 7, 1993) | Schwab Target 2010 Fund |
Schwab Balanced Fund | Schwab Target 2015 Fund |
Schwab ® S&P 500 Index Fund | Schwab Target 2020 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2025 Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2030 Fund |
Schwab International Index Fund® | Schwab Target 2035 Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Target 2040 Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Target 2045 Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Target 2050 Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Target 2055 Fund |
Laudus Small-Cap MarketMasters Fund™ | Schwab Fundamental US Large Company Index Fund |
Laudus International MarketMasters Fund™ | Schwab Fundamental US Small Company Index Fund |
Schwab Core Equity Fund™ | Schwab Fundamental International Large Company Index Fund |
Schwab Dividend Equity Fund™ | Schwab Fundamental International Small Company Index Fund |
Schwab Large-Cap Growth Fund™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab Small-Cap Equity Fund™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab Hedged Equity Fund™ | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab Financial Services Fund™ | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab Health Care Fund™ | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab ® International Core Equity Fund |
Laudus U.S. Large Cap Growth Fund | 2.1% |
Schwab Core Equity Fund | 4.5% |
Laudus Small-Cap MarketMasters Fund, Select Shares | 18.7% |
Schwab Intermediate-Term Bond Fund | 10.2% |
Schwab Total Bond Market Fund | 5.8% |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Laudus U.S. Large Cap Growth Fund | 1,558,414 | 1,220,994 | (167,970) | 2,611,438 | $46,300,784 | $331,037 | $5,497,424 | |||||||
Schwab Core Equity Fund | 2,825,465 | 1,939,764 | (124,591) | 4,640,638 | 107,198,741 | 236,223 | 10,739,887 | |||||||
Laudus Small-Cap MarketMasters Fund, Select Shares | 1,100,759 | 720,031 | (28,979) | 1,791,811 | 31,768,809 | 61,013 | 471,110 | |||||||
Schwab Intermediate-Term Bond Fund | 2,355,024 | 1,278,998 | (129,497) | 3,504,525 | 35,781,196 | 6,213 | 565,302 | |||||||
Schwab Total Bond Market Fund | 5,061,757 | 3,335,188 | (497,920) | 7,899,025 | 74,961,752 | 39,995 | 1,297,943 | |||||||
Total | $296,011,282 | $674,481 | $18,571,666 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Purchases of Securities | Sales/Maturities of Securities | |
$122,157,171 | $12,565,000 |
Current Period (11/1/14-10/31/15) | Prior Period (11/1/13-10/31/14) | |
$46,338 | $8,259 |
Undistributed ordinary income | $2,140,089 |
Undistributed long-term capital gains | 13,647,526 |
Unrealized appreciation on investments | 26,077,218 |
Unrealized depreciation on investments | (197,274) |
Net unrealized appreciation (depreciation) | $25,879,944 |
Current period distributions | |
Ordinary income | $4,612,433 |
Long-term capital gains | 5,780,880 |
Return of capital | — |
Prior period distributions | |
Ordinary income | $2,313,152 |
Long-term capital gains | — |
Return of capital | — |
Capital shares | $— |
Undistributed net investment income | 2,067,461 |
Net realized capital gains (losses) | (2,067,461) |
Schwab Balanced Fund
San Francisco, California
December 16, 2015
The Investment Company Act of 1940 (the 1940 Act) requires that initial approval of, as well as the continuation of, a fund’s investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or “interested persons” of any party (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund’s trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.
1. | the nature, extent and quality of the services provided to the Fund under the Agreement, including the resources of CSIM and its affiliates dedicated to the Fund; |
2. | the Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | the Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to the Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 74 | Director, Gilead Sciences, Inc. (2005 – present) |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Private Investor. | 74 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013) | 74 | Director, KLA-Tencor Corporation (2008 – present) |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 95 | None |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 74 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 74 | Board Member and Chairman of the Audit Committee, Isis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Charles R. Schwab2 1937 Chairman and Trustee (Chairman and Trustee of The Charles Schwab Family of Funds since 1989; Schwab Investments since 1991; Schwab Capital Trust since 1993; Schwab Annuity Portfolios since 1994; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman and Director, The Charles Schwab Corporation (1986 – present); Chairman and Director of Charles Schwab & Co., Inc. (1971 – present); Chairman and Director of Charles Schwab Investment Management, Inc. (1989 – present); Chairman and Director of Charles Schwab Bank (2003 – present); Chairman and Chief Executive Officer of Schwab (SIS) Holdings Inc. I and Schwab International Holdings, Inc. (1996 – present); and Director, Chairman and Chief Executive Officer, Schwab Holdings, Inc. (1979 – present). | 74 | Chairman and Director, The Charles Schwab Corporation (1986 – present) Director, Yahoo! Inc. (2014 – present) |
Walter W. Bettinger II2 1960 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (2008 – present); Director, Charles Schwab Bank (2006 – present); and Director, Schwab Holdings, Inc. (2008 – present). | 95 | Director, The Charles Schwab Corporation (2008 – present) |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
George Pereira 1964 Treasurer and Principal Financial Officer, Schwab Funds Treasurer and Chief Financial Officer, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust and Laudus Institutional Trust since 2006) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – present); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – present) and Schwab ETFs (Oct. 2009 – present); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (April 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – April 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (April 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (April 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (April 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2005) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Trustees remain in office until they resign, retire or are removed by shareholder vote. The Schwab and Laudus Funds’ retirement policy requires that independent trustees retire at age 72 or after twenty years as a trustee, whichever comes first. In addition, the retirement policy requires any independent trustee of Schwab Funds or Laudus Funds to retire from all Boards upon their required retirement date from either Board. |
2 | Mr. Schwab and Mr. Bettinger are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Boards. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Schwab Dividend Equity Fund™
Schwab Large-Cap Growth Fund™
Schwab Small-Cap Equity Fund™
Schwab Hedged Equity Fund™
Schwab Financial Services Fund™
Schwab Health Care Fund™
Schwab® International Core Equity Fund
Schwab Fundamental US Large Company Index Fund
Schwab Fundamental US Small Company Index Fund
Schwab Fundamental International Large Company Index Fund
Schwab Fundamental International Small Company Index Fund
Schwab Fundamental Emerging Markets Large Company Index Fund
Schwab Fundamental Global Real Estate Index Fund
Schwab Global Real Estate Fund™
Schwab® S&P 500 Index Fund
Schwab 1000 Index® Fund
Schwab Small-Cap Index Fund®
Schwab Total Stock Market Index Fund®
Schwab International Index Fund®
Schwab MarketTrack All Equity Portfolio™
Schwab MarketTrack Growth Portfolio™
Schwab MarketTrack Balanced Portfolio™
Schwab MarketTrack Conservative Portfolio™
Schwab Target 2010 Fund
Schwab Target 2015 Fund
Schwab Target 2020 Fund
Schwab Target 2025 Fund
Schwab Target 2030 Fund
Schwab Target 2035 Fund
Schwab Target 2040 Fund
Schwab Target 2045 Fund
Schwab Target 2050 Fund
Schwab Target 2055 Fund
Schwab® Monthly Income Fund – Moderate Payout
Schwab® Monthly Income Fund – Enhanced Payout
Schwab® Monthly Income Fund – Maximum Payout
Schwab Intermediate-Term Bond Fund™
Schwab Total Bond Market Fund™
Schwab GNMA Fund™
Schwab® Treasury Inflation Protected Securities Index Fund
Schwab Tax-Free Bond Fund™
Schwab California Tax-Free Bond Fund™
1 | Investments in money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency and, although they seek to preserve the value of your investment at $1 per share, it is possible to lose money. |
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Table of Contents
All Equity Portfolio™
Growth Portfolio™
Balanced Portfolio™
Conservative Portfolio™
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All Equity Portfolio
Growth Portfolio
Balanced Portfolio
Conservative Portfolio
2 | |
3 | |
5 | |
Performance and Fund Facts | |
6 | |
8 | |
10 | |
12 | |
14 | |
Financial Statements and Portfolio Holdings | |
15 | |
20 | |
26 | |
32 | |
38 | |
51 | |
52 | |
53 | |
55 | |
58 |
Total Return for the 12 Months Ended October 31, 2015 | |
Schwab MarketTrack All Equity Portfolio (Ticker Symbol: SWEGX) | 0.36% |
All Equity Composite Index | 1.41% |
Fund Category: Morningstar Large Blend | 2.79% |
Performance Details | pages 6-7 |
Schwab MarketTrack Growth Portfolio (Ticker Symbol: SWHGX) | 0.95% |
Growth Composite Index | 1.82% |
Fund Category: Morningstar Aggressive Allocation | -0.21% |
Performance Details | pages 8-9 |
Schwab MarketTrack Balanced Portfolio (Ticker Symbol: SWBGX) | 1.10% |
Balanced Composite Index | 1.94% |
Fund Category: Morningstar Moderate Allocation | 0.61% |
Performance Details | pages 10-11 |
Schwab MarketTrack Conservative Portfolio (Ticker Symbol: SWCGX) | 1.23% |
Conservative Composite Index | 1.99% |
Fund Category: Morningstar Conservative Allocation | -0.77% |
Performance Details | pages 12-13 |
Minimum Initial Investment1 | $100 |
1 | Please see the funds' prospectus for further detail and eligibility requirements. |
1 | The total return cited is for the MSCI EAFE Index (Net), which is calculated net of foreign withholding taxes. |
1 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Zifan Tang, Ph.D., CFA, Managing Director and Head of Asset Allocation Strategies, leads the portfolio management team and has overall responsibility for all aspects of the management of the funds. She was appointed portfolio manager of the funds in February 2012. Prior to joining CSIM in 2012, Ms. Tang was a product manager at Thomson Reuters and, from 1997 to 2009, worked as a portfolio manager at Barclays Global Investors, which was subsequently acquired by BlackRock. |
Statistics | |
Number of Holdings | 9 |
Portfolio Turnover Rate | 42% |
Asset Class Weightings % of Investments | |
Equity Funds – Large-Cap | 45.4% |
Equity Funds – International | 29.4% |
Equity Funds – Small-Cap | 24.9% |
Short-Term Investments | 0.3% |
Total | 100.0% |
Top Holdings % of Net Assets1,2 | |
Schwab S&P 500 Index Fund | 31.8% |
Schwab Small-Cap Index Fund | 17.4% |
Schwab International Index Fund | 13.8% |
Schwab Fundamental US Large Company Index Fund | 13.5% |
Schwab Fundamental US Small Company Index Fund | 7.5% |
Schwab Fundamental International Large Company Index Fund | 6.0% |
Schwab Fundamental International Small Company Index Fund | 5.0% |
Schwab Fundamental Emerging Markets Large Company Index Fund | 4.5% |
Total | 99.5% |
1 | This list is not a recommendation of any security by the investment adviser. |
2 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Portfolio and Inception Date | 1 Year | 5 Years | 10 Years |
Portfolio: Schwab MarketTrack All Equity Portfolio (5/19/98) | 0.36% | 10.12% | 6.26% |
All Equity Composite Index | 1.41% | 10.69% | 6.63% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Fund Category: Morningstar Large Blend | 2.79% | 12.51% | 6.99% |
1 | Portfolio expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the portfolio’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the portfolio invests. The annualized weighted average expense ratio of the underlying funds was 0.23%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 14 |
Portfolio Turnover Rate | 36% |
Asset Class Weightings % of Investments | |
Equity Funds – Large-Cap | 40.1% |
Equity Funds – Small-Cap | 20.1% |
Equity Funds – International | 19.8% |
Fixed-Income Funds – Intermediate-Term Bond | 15.0% |
Short-Term Investments | 3.5% |
Money Market Funds | 1.5% |
Total | 100.0% |
Top Holdings % of Net Assets1,2 | |
Schwab S&P 500 Index Fund | 28.1% |
Schwab Total Bond Market Fund | 15.0% |
Schwab Small-Cap Index Fund | 14.1% |
Schwab Fundamental US Large Company Index Fund | 12.0% |
Schwab International Index Fund | 9.5% |
Schwab Fundamental US Small Company Index Fund | 6.0% |
Schwab Fundamental International Large Company Index Fund | 4.1% |
Schwab Fundamental International Small Company Index Fund | 3.3% |
Schwab Fundamental Emerging Markets Large Company Index Fund | 2.9% |
Schwab Value Advantage Money Fund, Ultra Shares | 1.5% |
Total | 96.5% |
1 | This list is not a recommendation of any security by the investment adviser. |
2 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Portfolio and Inception Date | 1 Year | 5 Years | 10 Years |
Portfolio: Schwab MarketTrack Growth Portfolio (11/20/95) | 0.95% | 9.02% | 5.95% |
Growth Composite Index | 1.82% | 9.51% | 6.46% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Fund Category: Morningstar Aggressive Allocation | -0.21% | 8.30% | 5.50% |
1 | Portfolio expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the portfolio’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the portfolio invests. The annualized weighted average expense ratio of the underlying funds was 0.23%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 14 |
Portfolio Turnover Rate | 36% |
Asset Class Weightings % of Investments | |
Fixed-Income Funds – Intermediate-Term Bond | 35.0% |
Equity Funds – Large-Cap | 30.1% |
Equity Funds – Small-Cap | 15.1% |
Equity Funds – International | 14.8% |
Short-Term Investments | 3.4% |
Money Market Funds | 1.6% |
Total | 100.0% |
Top Holdings % of Net Assets1,2 | |
Schwab Total Bond Market Fund | 35.0% |
Schwab S&P 500 Index Fund | 21.1% |
Schwab Small-Cap Index Fund | 10.6% |
Schwab Fundamental US Large Company Index Fund | 9.0% |
Schwab International Index Fund | 7.2% |
Schwab Fundamental US Small Company Index Fund | 4.5% |
Schwab Fundamental International Large Company Index Fund | 3.0% |
Schwab Fundamental International Small Company Index Fund | 2.5% |
Schwab Fundamental Emerging Markets Large Company Index Fund | 2.1% |
Schwab Value Advantage Money Fund, Ultra Shares | 1.6% |
Total | 96.6% |
1 | This list is not a recommendation of any security by the investment adviser. |
2 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Portfolio and Inception Date | 1 Year | 5 Years | 10 Years |
Portfolio: Schwab MarketTrack Balanced Portfolio (11/20/95) | 1.10% | 7.41% | 5.30% |
Balanced Composite Index | 1.94% | 7.93% | 6.15% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Barclays U.S. Aggregate Bond Index | 1.96% | 3.03% | 4.72% |
Fund Category: Morningstar Moderate Allocation | 0.61% | 7.75% | 5.74% |
1 | Portfolio expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the portfolio’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the portfolio invests. The annualized weighted average expense ratio of the underlying funds was 0.24%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Statistics | |
Number of Holdings | 14 |
Portfolio Turnover Rate | 24% |
Asset Class Weightings % of Investments | |
Fixed-Income Funds – Intermediate-Term Bond | 55.1% |
Equity Funds – Large-Cap | 20.1% |
Equity Funds – Small-Cap | 10.1% |
Equity Funds – International | 9.8% |
Short-Term Investments | 3.4% |
Money Market Funds | 1.5% |
Total | 100.0% |
Top Holdings % of Net Assets1,2 | |
Schwab Total Bond Market Fund | 55.0% |
Schwab S&P 500 Index Fund | 14.1% |
Schwab Small-Cap Index Fund | 7.1% |
Schwab Fundamental US Large Company Index Fund | 6.0% |
Schwab International Index Fund | 4.8% |
Schwab Fundamental US Small Company Index Fund | 3.0% |
Schwab Fundamental International Large Company Index Fund | 2.0% |
Schwab Fundamental International Small Company Index Fund | 1.7% |
Schwab Value Advantage Money Fund, Ultra Shares | 1.6% |
Schwab Fundamental Emerging Markets Large Company Index Fund | 1.3% |
Total | 96.6% |
1 | This list is not a recommendation of any security by the investment adviser. |
2 | The holdings listed exclude any temporary liquidity investments. |
Performance of Hypothetical
$10,000 Investment1
Portfolio and Inception Date | 1 Year | 5 Years | 10 Years |
Portfolio: Schwab MarketTrack Conservative Portfolio (11/20/95) | 1.23% | 5.70% | 4.55% |
Conservative Composite Index | 1.99% | 6.30% | 5.72% |
S&P 500® Index | 5.20% | 14.33% | 7.85% |
Barclays U.S. Aggregate Bond Index | 1.96% | 3.03% | 4.72% |
Fund Category: Morningstar Conservative Allocation | -0.77% | 5.02% | 4.59% |
1 | Portfolio expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the portfolio’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the portfolio invests. The annualized weighted average expense ratio of the underlying funds was 0.26%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio1 (Annualized) | Beginning Account Value at 5/1/15 | Ending Account Value (Net of Expenses) at 10/31/15 | Expenses Paid During Period2 5/1/15–10/31/15 | ||
Schwab MarketTrack All Equity Portfolio | |||||
Actual Return | 0.42% | $1,000.00 | $ 959.40 | $ 2.07 | |
Hypothetical 5% Return | 0.42% | $1,000.00 | $1,023.08 | $ 2.14 | |
Schwab MarketTrack Growth Portfolio | |||||
Actual Return | 0.41% | $1,000.00 | $ 970.90 | $ 2.04 | |
Hypothetical 5% Return | 0.41% | $1,000.00 | $ 1,023.13 | $2.09 | |
Schwab MarketTrack Balanced Portfolio | |||||
Actual Return | 0.41% | $1,000.00 | $ 977.40 | $ 2.04 | |
Hypothetical 5% Return | 0.41% | $1,000.00 | $ 1,023.13 | $2.09 | |
Schwab MarketTrack Conservative Portfolio | |||||
Actual Return | 0.42% | $1,000.00 | $ 983.90 | $ 2.10 | |
Hypothetical 5% Return | 0.42% | $1,000.00 | $1,023.08 | $ 2.14 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12-month period. The expenses incurred by the underlying funds in which the portfolios invest are not included in this ratio. |
2 | Expenses for each portfolio are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 365 days of the fiscal year. |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $17.17 | $15.99 | $12.79 | $11.52 | $11.30 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.29 1 | 0.21 | 0.27 | 0.25 | 0.16 | |
Net realized and unrealized gains (losses) | (0.23) | 1.24 | 3.27 | 1.02 | 0.27 | |
Total from investment operations | 0.06 | 1.45 | 3.54 | 1.27 | 0.43 | |
Less distributions: | ||||||
Distributions from net investment income | (0.23) | (0.27) | (0.34) | — | (0.21) | |
Net asset value at end of period | $17.00 | $17.17 | $15.99 | $12.79 | $11.52 | |
Total return | 0.36% | 9.12% | 28.37% | 11.02% | 3.76% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.42% 3 | 0.50% | 0.50% | 0.50% | 0.50% | |
Gross operating expenses2 | 0.43% 3 | 0.51% | 0.52% | 0.54% | 0.53% | |
Net investment income (loss) | 1.67% | 1.24% | 1.84% | 1.93% | 1.37% | |
Portfolio turnover rate | 42% 4 | 9% | 6% | 6% | 12% | |
Net assets, end of period (x 1,000,000) | $578 | $621 | $586 | $475 | $476 | |
Holdings by Category | Cost ($) | Value ($) | |
99.5% | Other Investment Companies | 422,251,512 | 574,715,933 |
0.4% | Short-Term Investment | 1,988,106 | 1,988,106 |
99.9% | Total Investments | 424,239,618 | 576,704,039 |
0.1% | Other Assets and Liabilities, Net | 841,113 | |
100.0% | Net Assets | 577,545,152 |
Security | Number of Shares | Value ($) |
Other Investment Companies 99.5% of net assets | ||
Equity Funds 99.5% | ||
International 29.3% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund (a) | 3,907,265 | 26,061,460 |
Schwab Fundamental International Large Company Index Fund (a) | 4,235,560 | 34,689,239 |
Schwab Fundamental International Small Company Index Fund (a) | 2,571,858 | 28,933,405 |
Schwab International Index Fund (a) | 4,318,720 | 79,853,140 |
169,537,244 |
Security | Number of Shares | Value ($) |
Large-Cap 45.3% | ||
Schwab Fundamental US Large Company Index Fund (a) | 5,149,167 | 77,958,384 |
Schwab S&P 500 Index Fund (a) | 5,562,139 | 183,550,585 |
261,508,969 | ||
Small-Cap 24.9% | ||
Schwab Fundamental US Small Company Index Fund (a) | 3,391,816 | 43,483,075 |
Schwab Small-Cap Index Fund (a) | 3,810,827 | 100,186,645 |
143,669,720 | ||
Total Other Investment Companies | ||
(Cost $422,251,512) | 574,715,933 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.4% of net assets | ||
Time Deposit 0.4% | ||
Nordea Bank | ||
0.03%, 11/02/15 | 1,988,106 | 1,988,106 |
Total Short-Term Investment | ||
(Cost $1,988,106) | 1,988,106 |
(a) | Issuer is affiliated with the fund's investment adviser. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $574,715,933 | $— | $— | $574,715,933 | |||||
Short-Term Investment1 | — | 1,988,106 | — | 1,988,106 | |||||
Total | $574,715,933 | $1,988,106 | $— | $576,704,039 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $422,251,512) | $574,715,933 | |
Investments in unaffiliated issuers, at value (cost $1,988,106) | + | 1,988,106 |
Total investments, at value (cost $424,239,618) | 576,704,039 | |
Receivables: | ||
Investments sold | 1,990,000 | |
Fund shares sold | 171,880 | |
Prepaid expenses | + | 19,412 |
Total assets | 578,885,331 | |
Liabilities | ||
Payables: | ||
Investments bought | 970,000 | |
Investment adviser and administrator fees | 12,408 | |
Shareholder service fees | 23,438 | |
Fund shares redeemed | 264,847 | |
Accrued expenses | + | 69,486 |
Total liabilities | 1,340,179 | |
Net Assets | ||
Total assets | 578,885,331 | |
Total liabilities | – | 1,340,179 |
Net assets | $577,545,152 | |
Net Assets by Source | ||
Capital received from investors | 386,638,052 | |
Net investment income not yet distributed | 10,705,994 | |
Net realized capital gains | 27,736,685 | |
Net unrealized capital appreciation | 152,464,421 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$577,545,152 | 33,976,269 | $17.00 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $12,651,936 | |
Interest | + | 759 |
Total investment income | 12,652,695 | |
Expenses | ||
Investment adviser and administrator fees | 838,432 | |
Shareholder service fees | 1,469,593 | |
Shareholder reports | 97,638 | |
Transfer agent fees | 35,751 | |
Professional fees | 32,571 | |
Portfolio accounting fees | 25,861 | |
Registration fees | 19,264 | |
Custodian fees | 12,891 | |
Independent trustees' fees | 9,744 | |
Proxy fees | 9,162 | |
Other expenses | + | 26,423 |
Total expenses | 2,577,330 | |
Expense reduction by CSIM and its affiliates | – | 35,751 |
Net expenses | – | 2,541,579 |
Net investment income | 10,111,116 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 8,408,971 | |
Net realized gains on sales of affiliated underlying funds | 63,851,752 | |
Net realized gains on unaffiliated issuers | + | 14 |
Net realized gains | 72,260,737 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (79,060,989) |
Net realized and unrealized losses | (6,800,252) | |
Increase in net assets resulting from operations | $3,310,864 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $10,111,116 | $7,579,810 | |
Net realized gains | 72,260,737 | 16,907,766 | |
Net change in unrealized appreciation (depreciation) | + | (79,060,989) | 28,397,026 |
Increase in net assets from operations | 3,310,864 | 52,884,602 | |
Distributions to Shareholders | |||
Distributions from net investment income | ($8,349,307) | ($9,729,315) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 3,446,540 | $58,886,736 | 3,783,484 | $62,639,443 | |
Shares reinvested | 449,055 | 7,719,249 | 553,923 | 9,089,878 | |
Shares redeemed | + | (6,085,680) | (104,963,000) | (4,817,645) | (80,084,457) |
Net transactions in fund shares | (2,190,085) | ($38,357,015) | (480,238) | ($8,355,136) | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 36,166,354 | $620,940,610 | 36,646,592 | $586,140,459 | |
Total increase or decrease | + | (2,190,085) | (43,395,458) | (480,238) | 34,800,151 |
End of period | 33,976,269 | $577,545,152 | 36,166,354 | $620,940,610 | |
Net investment income not yet distributed | $10,705,994 | $8,345,966 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $23.20 | $21.67 | $18.08 | $16.85 | $16.35 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.34 1 | 0.27 | 0.34 | 0.30 | 0.24 | |
Net realized and unrealized gains (losses) | (0.12) | 1.57 | 3.60 | 1.35 | 0.51 | |
Total from investment operations | 0.22 | 1.84 | 3.94 | 1.65 | 0.75 | |
Less distributions: | ||||||
Distributions from net investment income | (0.35) | (0.31) | (0.35) | (0.42) | (0.25) | |
Distributions from net realized gains | (0.39) | — | — | — | — | |
Total distributions | (0.74) | (0.31) | (0.35) | (0.42) | (0.25) | |
Net asset value at end of period | $22.68 | $23.20 | $21.67 | $18.08 | $16.85 | |
Total return | 0.95% | 8.55% | 22.14% | 10.03% | 4.55% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.42% 3 | 0.50% | 0.50% | 0.50% | 0.50% | |
Gross operating expenses2 | 0.42% 3 | 0.51% | 0.52% | 0.53% | 0.52% | |
Net investment income (loss) | 1.50% | 1.20% | 1.71% | 1.78% | 1.39% | |
Portfolio turnover rate | 36% 4 | 7% | 9% | 9% | 17% | |
Net assets, end of period (x 1,000,000) | $716 | $734 | $680 | $566 | $562 | |
Holdings by Category | Cost ($) | Value ($) | |
96.5% | Other Investment Companies | 477,117,557 | 691,131,922 |
3.5% | Short-Term Investments | 24,767,947 | 24,767,947 |
100.0% | Total Investments | 501,885,504 | 715,899,869 |
(0.0%) | Other Assets and Liabilities, Net | (20,064) | |
100.0% | Net Assets | 715,879,805 |
Security | Number of Shares | Value ($) |
Other Investment Companies 96.5% of net assets | ||
Equity Funds 80.0% | ||
International 19.8% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund (a) | 3,155,206 | 21,045,225 |
Schwab Fundamental International Large Company Index Fund (a) | 3,543,745 | 29,023,268 |
Schwab Fundamental International Small Company Index Fund (a) | 2,129,293 | 23,954,549 |
Schwab International Index Fund (a) | 3,668,131 | 67,823,748 |
141,846,790 | ||
Large-Cap 40.1% | ||
Schwab Fundamental US Large Company Index Fund (a) | 5,666,998 | 85,798,350 |
Schwab S&P 500 Index Fund (a) | 6,100,571 | 201,318,830 |
287,117,180 | ||
Small-Cap 20.1% | ||
Schwab Fundamental US Small Company Index Fund (a) | 3,358,509 | 43,056,083 |
Schwab Small-Cap Index Fund (a) | 3,838,509 | 100,914,407 |
143,970,490 | ||
572,934,460 |
Security | Number of Shares | Value ($) |
Fixed-Income Fund 15.0% | ||
Intermediate-Term Bond 15.0% | ||
Schwab Total Bond Market Fund (a) | 11,289,832 | 107,140,508 |
Money Market Fund 1.5% | ||
Schwab Value Advantage Money Fund, Ultra Shares 0.11% (a)(b) | 11,056,954 | 11,056,954 |
Total Other Investment Companies | ||
(Cost $477,117,557) | 691,131,922 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 3.5% of net assets | ||
Time Deposits 3.5% | ||
Bank of Tokyo - Mitsubishi UFJ | ||
0.03%, 11/02/15 | 3,253,708 | 3,253,708 |
Barclays Capital, Inc. | ||
0.03%, 11/02/15 | 7,171,413 | 7,171,413 |
JPMorgan Chase Bank | ||
0.03%, 11/02/15 | 7,171,413 | 7,171,413 |
Sumitomo Mitsui Banking Corp. | ||
0.03%, 11/02/15 | 7,171,413 | 7,171,413 |
Total Short-Term Investments | ||
(Cost $24,767,947) | 24,767,947 |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $691,131,922 | $— | $— | $691,131,922 | |||||
Short-Term Investments1 | — | 24,767,947 | — | 24,767,947 | |||||
Total | $691,131,922 | $24,767,947 | $— | $715,899,869 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $477,117,557) | $691,131,922 | |
Investments in unaffiliated issuers, at value (cost $24,767,947) | + | 24,767,947 |
Total investments, at value (cost $501,885,504) | 715,899,869 | |
Receivables: | ||
Investments sold | 5,180,000 | |
Fund shares sold | 358,440 | |
Dividends | 192,995 | |
Interest | 41 | |
Prepaid expenses | + | 17,820 |
Total assets | 721,649,165 | |
Liabilities | ||
Payables: | ||
Investments bought | 5,538,544 | |
Investment adviser and administrator fees | 15,320 | |
Shareholder service fees | 29,339 | |
Fund shares redeemed | 116,444 | |
Accrued expenses | + | 69,713 |
Total liabilities | 5,769,360 | |
Net Assets | ||
Total assets | 721,649,165 | |
Total liabilities | – | 5,769,360 |
Net assets | $715,879,805 | |
Net Assets by Source | ||
Capital received from investors | 427,390,911 | |
Distributions in excess of net investment income | (522,853) | |
Net realized capital gains | 74,997,382 | |
Net unrealized capital appreciation | 214,014,365 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$715,879,805 | 31,568,642 | $22.68 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $14,101,048 | |
Interest | + | 7,672 |
Total investment income | 14,108,720 | |
Expenses | ||
Investment adviser and administrator fees | 1,018,902 | |
Shareholder service fees | 1,798,542 | |
Shareholder reports | 95,187 | |
Transfer agent fees | 36,200 | |
Professional fees | 33,446 | |
Portfolio accounting fees | 27,773 | |
Registration fees | 21,591 | |
Custodian fees | 14,757 | |
Independent trustees' fees | 10,364 | |
Proxy fees | 8,866 | |
Other expenses | + | 31,617 |
Total expenses | 3,097,245 | |
Expense reduction by CSIM and its affiliates | – | 36,200 |
Net expenses | – | 3,061,045 |
Net investment income | 11,047,675 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 8,055,089 | |
Net realized gains on sales of affiliated underlying funds | 72,003,827 | |
Net realized gains on unaffiliated issuers | + | 9,995 |
Net realized gains | 80,068,911 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (84,004,658) |
Net realized and unrealized losses | (3,935,747) | |
Increase in net assets resulting from operations | $7,111,928 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $11,047,675 | $8,557,275 | |
Net realized gains | 80,068,911 | 15,151,167 | |
Net change in unrealized appreciation (depreciation) | + | (84,004,658) | 34,299,920 |
Increase in net assets from operations | 7,111,928 | 58,008,362 | |
Distributions to Shareholders | |||
Distributions from net investment income | (11,176,663) | (9,625,225) | |
Distributions from net realized gains | + | (12,409,011) | — |
Total distributions | ($23,585,674) | ($9,625,225) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 3,249,257 | $74,702,105 | 3,913,595 | $87,721,647 | |
Shares reinvested | 977,376 | 22,303,738 | 411,732 | 9,099,268 | |
Shares redeemed | + | (4,282,237) | (98,343,607) | (4,084,279) | (91,729,964) |
Net transactions in fund shares | (55,604) | ($1,337,764) | 241,048 | $5,090,951 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 31,624,246 | $733,691,315 | 31,383,198 | $680,217,227 | |
Total increase or decrease | + | (55,604) | (17,811,510) | 241,048 | 53,474,088 |
End of period | 31,568,642 | $715,879,805 | 31,624,246 | $733,691,315 | |
Distributions in excess of net investment income | ($522,853) | ($966,909) |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $19.50 | $18.55 | $16.33 | $15.41 | $14.96 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.29 1 | 0.26 | 0.31 | 0.29 | 0.25 | |
Net realized and unrealized gains (losses) | (0.08) | 1.08 | 2.23 | 1.01 | 0.46 | |
Total from investment operations | 0.21 | 1.34 | 2.54 | 1.30 | 0.71 | |
Less distributions: | ||||||
Distributions from net investment income | (0.30) | (0.27) | (0.32) | (0.38) | (0.26) | |
Distributions from net realized gains | (0.34) | (0.12) | — | — | — | |
Total distributions | (0.64) | (0.39) | (0.32) | (0.38) | (0.26) | |
Net asset value at end of period | $19.07 | $19.50 | $18.55 | $16.33 | $15.41 | |
Total return | 1.10% | 7.28% | 15.82% | 8.61% | 4.80% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.42% 3 | 0.50% | 0.50% | 0.50% | 0.50% | |
Gross operating expenses2 | 0.42% 3 | 0.51% | 0.52% | 0.53% | 0.52% | |
Net investment income (loss) | 1.51% | 1.30% | 1.75% | 1.86% | 1.64% | |
Portfolio turnover rate | 36% 4 | 16% | 12% | 12% | 25% | |
Net assets, end of period (x 1,000,000) | $512 | $522 | $481 | $425 | $432 | |
Holdings by Category | Cost ($) | Value ($) | |
96.6% | Other Investment Companies | 373,581,996 | 494,684,986 |
3.4% | Short-Term Investments | 17,377,312 | 17,377,312 |
100.0% | Total Investments | 390,959,308 | 512,062,298 |
0.0% | Other Assets and Liabilities, Net | 187,511 | |
100.0% | Net Assets | 512,249,809 |
Security | Number of Shares | Value ($) |
Other Investment Companies 96.6% of net assets | ||
Equity Funds 60.0% | ||
International 14.8% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund (a) | 1,614,627 | 10,769,562 |
Schwab Fundamental International Large Company Index Fund (a) | 1,903,457 | 15,589,309 |
Schwab Fundamental International Small Company Index Fund (a) | 1,140,007 | 12,825,082 |
Schwab International Index Fund (a) | 1,978,586 | 36,584,047 |
75,768,000 | ||
Large-Cap 30.1% | ||
Schwab Fundamental US Large Company Index Fund (a) | 3,037,893 | 45,993,704 |
Schwab S&P 500 Index Fund (a) | 3,278,113 | 108,177,731 |
154,171,435 | ||
Small-Cap 15.1% | ||
Schwab Fundamental US Small Company Index Fund (a) | 1,801,386 | 23,093,767 |
Schwab Small-Cap Index Fund (a) | 2,062,479 | 54,222,581 |
77,316,348 | ||
307,255,783 |
Security | Number of Shares | Value ($) |
Fixed-Income Fund 35.0% | ||
Intermediate-Term Bond 35.0% | ||
Schwab Total Bond Market Fund (a) | 18,903,171 | 179,391,089 |
Money Market Fund 1.6% | ||
Schwab Value Advantage Money Fund, Ultra Shares 0.11% (a)(b) | 8,038,114 | 8,038,114 |
Total Other Investment Companies | ||
(Cost $373,581,996) | 494,684,986 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 3.4% of net assets | ||
Time Deposits 3.4% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.03%, 11/02/15 | 5,128,805 | 5,128,805 |
DNB | ||
0.03%, 11/02/15 | 5,128,805 | 5,128,805 |
JPMorgan Chase Bank | ||
0.03%, 11/02/15 | 1,990,897 | 1,990,897 |
Wells Fargo | ||
0.03%, 11/02/15 | 5,128,805 | 5,128,805 |
Total Short-Term Investments | ||
(Cost $17,377,312) | 17,377,312 |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $494,684,986 | $— | $— | $494,684,986 | |||||
Short-Term Investments1 | — | 17,377,312 | — | 17,377,312 | |||||
Total | $494,684,986 | $17,377,312 | $— | $512,062,298 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $373,581,996) | $494,684,986 | |
Investments in unaffiliated issuers, at value (cost $17,377,312) | + | 17,377,312 |
Total investments, at value (cost $390,959,308) | 512,062,298 | |
Receivables: | ||
Investments sold | 6,460,000 | |
Fund shares sold | 567,618 | |
Dividends | 328,688 | |
Interest | 29 | |
Prepaid expenses | + | 17,656 |
Total assets | 519,436,289 | |
Liabilities | ||
Payables: | ||
Investments bought | 6,938,433 | |
Investment adviser and administrator fees | 10,986 | |
Shareholder service fees | 21,364 | |
Fund shares redeemed | 168,056 | |
Accrued expenses | + | 47,641 |
Total liabilities | 7,186,480 | |
Net Assets | ||
Total assets | 519,436,289 | |
Total liabilities | – | 7,186,480 |
Net assets | $512,249,809 | |
Net Assets by Source | ||
Capital received from investors | 344,181,948 | |
Net investment income not yet distributed | 1,540,404 | |
Net realized capital gains | 45,424,467 | |
Net unrealized capital appreciation | 121,102,990 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$512,249,809 | 26,854,867 | $19.07 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $10,053,900 | |
Interest | + | 5,387 |
Total investment income | 10,059,287 | |
Expenses | ||
Investment adviser and administrator fees | 721,108 | |
Shareholder service fees | 1,276,764 | |
Shareholder reports | 53,377 | |
Professional fees | 31,818 | |
Transfer agent fees | 28,552 | |
Portfolio accounting fees | 24,398 | |
Registration fees | 16,233 | |
Custodian fees | 10,993 | |
Independent trustees' fees | 9,317 | |
Proxy fees | 4,702 | |
Other expenses | + | 20,605 |
Total expenses | 2,197,867 | |
Expense reduction by CSIM and its affiliates | – | 28,552 |
Net expenses | – | 2,169,315 |
Net investment income | 7,889,972 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 4,182,543 | |
Net realized gains on sales of affiliated underlying funds | 49,191,865 | |
Net realized gains on unaffiliated issuers | + | 6,095 |
Net realized gains | 53,380,503 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (55,491,706) |
Net realized and unrealized losses | (2,111,203) | |
Increase in net assets resulting from operations | $5,778,769 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $7,889,972 | $6,710,856 | |
Net realized gains | 53,380,503 | 9,295,980 | |
Net change in unrealized appreciation (depreciation) | + | (55,491,706) | 20,375,572 |
Increase in net assets from operations | 5,778,769 | 36,382,408 | |
Distributions to Shareholders | |||
Distributions from net investment income | (7,938,877) | (6,922,856) | |
Distributions from net realized gains | + | (8,928,300) | (3,022,728) |
Total distributions | ($16,867,177) | ($9,945,584) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 5,459,344 | $104,614,248 | 6,823,497 | $128,625,138 | |
Shares reinvested | 823,113 | 15,729,696 | 501,199 | 9,312,269 | |
Shares redeemed | + | (6,192,938) | (118,872,279) | (6,491,635) | (123,488,301) |
Net transactions in fund shares | 89,519 | $1,471,665 | 833,061 | $14,449,106 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 26,765,348 | $521,866,552 | 25,932,287 | $480,980,622 | |
Total increase or decrease | + | 89,519 | (9,616,743) | 833,061 | 40,885,930 |
End of period | 26,854,867 | $512,249,809 | 26,765,348 | $521,866,552 | |
Net investment income not yet distributed | $1,540,404 | $1,291,759 |
11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | 11/1/10– 10/31/11 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $16.00 | $15.34 | $14.23 | $13.59 | $13.22 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.25 1 | 0.23 | 0.26 | 0.26 | 0.25 | |
Net realized and unrealized gains (losses) | (0.05) | 0.67 | 1.10 | 0.69 | 0.37 | |
Total from investment operations | 0.20 | 0.90 | 1.36 | 0.95 | 0.62 | |
Less distributions: | ||||||
Distributions from net investment income | (0.26) | (0.24) | (0.25) | (0.31) | (0.25) | |
Net asset value at end of period | $15.94 | $16.00 | $15.34 | $14.23 | $13.59 | |
Total return | 1.23% | 5.95% | 9.71% | 7.07% | 4.72% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.43% 3 | 0.50% | 0.50% | 0.50% | 0.50% | |
Gross operating expenses2 | 0.44% 3 | 0.54% | 0.55% | 0.55% | 0.55% | |
Net investment income (loss) | 1.54% | 1.43% | 1.78% | 1.96% | 1.84% | |
Portfolio turnover rate | 24% 4 | 9% | 15% | 19% | 30% | |
Net assets, end of period (x 1,000,000) | $228 | $223 | $203 | $189 | $198 | |
Holdings by Category | Cost ($) | Value ($) | |
96.6% | Other Investment Companies | 180,441,859 | 219,712,793 |
3.4% | Short-Term Investments | 7,787,371 | 7,787,371 |
100.0% | Total Investments | 188,229,230 | 227,500,164 |
0.0% | Other Assets and Liabilities, Net | 92,689 | |
100.0% | Net Assets | 227,592,853 |
Security | Number of Shares | Value ($) |
Other Investment Companies 96.6% of net assets | ||
Equity Funds 40.0% | ||
International 9.8% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund (a) | 432,696 | 2,886,084 |
Schwab Fundamental International Large Company Index Fund (a) | 554,331 | 4,539,971 |
Schwab Fundamental International Small Company Index Fund (a) | 337,593 | 3,797,927 |
Schwab International Index Fund (a) | 597,598 | 11,049,595 |
22,273,577 | ||
Large-Cap 20.1% | ||
Schwab Fundamental US Large Company Index Fund (a) | 899,135 | 13,612,911 |
Schwab S&P 500 Index Fund (a) | 974,586 | 32,161,325 |
45,774,236 | ||
Small-Cap 10.1% | ||
Schwab Fundamental US Small Company Index Fund (a) | 532,697 | 6,829,182 |
Schwab Small-Cap Index Fund (a) | 612,939 | 16,114,161 |
22,943,343 | ||
90,991,156 |
Security | Number of Shares | Value ($) |
Fixed-Income Fund 55.0% | ||
Intermediate-Term Bond 55.0% | ||
Schwab Total Bond Market Fund (a) | 13,196,228 | 125,232,206 |
Money Market Fund 1.6% | ||
Schwab Value Advantage Money Fund, Ultra Shares 0.11% (a)(b) | 3,489,431 | 3,489,431 |
Total Other Investment Companies | ||
(Cost $180,441,859) | 219,712,793 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 3.4% of net assets | ||
Time Deposits 3.4% | ||
Bank of Tokyo - Mitsubishi UFJ | ||
0.03%, 11/02/15 | 958,582 | 958,582 |
Barclays Capital, Inc. | ||
0.03%, 11/02/15 | 2,276,263 | 2,276,263 |
JPMorgan Chase Bank | ||
0.03%, 11/02/15 | 2,276,263 | 2,276,263 |
Sumitomo Mitsui Banking Corp. | ||
0.03%, 11/02/15 | 2,276,263 | 2,276,263 |
Total Short-Term Investments | ||
(Cost $7,787,371) | 7,787,371 |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||
Other Investment Companies1 | $219,712,793 | $— | $— | $219,712,793 | |||||
Short-Term Investments1 | — | 7,787,371 | — | 7,787,371 | |||||
Total | $219,712,793 | $7,787,371 | $— | $227,500,164 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $180,441,859) | $219,712,793 | |
Investments in unaffiliated issuers, at value (cost $7,787,371) | + | 7,787,371 |
Total investments, at value (cost $188,229,230) | 227,500,164 | |
Receivables: | ||
Investments sold | 2,840,000 | |
Dividends | 226,118 | |
Fund shares sold | 166,676 | |
Interest | 13 | |
Prepaid expenses | + | 15,322 |
Total assets | 230,748,293 | |
Liabilities | ||
Payables: | ||
Investments bought | 3,093,114 | |
Investment adviser and administrator fees | 4,876 | |
Shareholder service fees | 9,130 | |
Fund shares redeemed | 16,575 | |
Accrued expenses | + | 31,745 |
Total liabilities | 3,155,440 | |
Net Assets | ||
Total assets | 230,748,293 | |
Total liabilities | – | 3,155,440 |
Net assets | $227,592,853 | |
Net Assets by Source | ||
Capital received from investors | 182,255,961 | |
Net investment income not yet distributed | 154,755 | |
Net realized capital gains | 5,911,203 | |
Net unrealized capital appreciation | 39,270,934 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$227,592,853 | 14,279,444 | $15.94 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $4,487,322 | |
Interest | + | 2,370 |
Total investment income | 4,489,692 | |
Expenses | ||
Investment adviser and administrator fees | 314,540 | |
Shareholder service fees | 559,741 | |
Professional fees | 29,627 | |
Transfer agent fees | 25,011 | |
Shareholder reports | 21,513 | |
Portfolio accounting fees | 19,177 | |
Registration fees | 12,956 | |
Independent trustees' fees | 7,916 | |
Custodian fees | 6,035 | |
Proxy fees | 1,913 | |
Other expenses | + | 7,725 |
Total expenses | 1,006,154 | |
Expense reduction by CSIM and its affiliates | – | 25,011 |
Net expenses | – | 981,143 |
Net investment income | 3,508,549 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,211,768 | |
Net realized gains on sales of affiliated underlying funds | 13,358,214 | |
Net realized gains on unaffiliated issuers | + | 6,068 |
Net realized gains | 14,576,050 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (15,531,464) |
Net realized and unrealized losses | (955,414) | |
Increase in net assets resulting from operations | $2,553,135 |
Operations | |||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||
Net investment income | $3,508,549 | $3,094,773 | |
Net realized gains | 14,576,050 | 2,115,830 | |
Net change in unrealized appreciation (depreciation) | + | (15,531,464) | 7,357,863 |
Increase in net assets from operations | 2,553,135 | 12,568,466 | |
Distributions to Shareholders | |||
Distributions from net investment income | ($3,590,423) | ($3,306,277) |
Transactions in Fund Shares | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 2,432,532 | $39,115,068 | 2,855,381 | $44,555,555 | |
Shares reinvested | 207,359 | 3,310,268 | 196,187 | 3,043,263 | |
Shares redeemed | + | (2,319,449) | (37,207,806) | (2,297,937) | (36,023,815) |
Net transactions in fund shares | 320,442 | $5,217,530 | 753,631 | $11,575,003 | |
Shares Outstanding and Net Assets | |||||
11/1/14-10/31/15 | 11/1/13-10/31/14 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 13,959,002 | $223,412,611 | 13,205,371 | $202,575,419 | |
Total increase | + | 320,442 | 4,180,242 | 753,631 | 20,837,192 |
End of period | 14,279,444 | $227,592,853 | 13,959,002 | $223,412,611 | |
Net investment income not yet distributed | $154,755 | $150,423 |
Schwab Capital Trust (organized May 7, 1993) | Schwab Target 2010 Fund |
Schwab MarketTrack All Equity Portfolio | Schwab Target 2015 Fund |
Schwab MarketTrack Growth Portfolio | Schwab Target 2020 Fund |
Schwab MarketTrack Balanced Portfolio | Schwab Target 2025 Fund |
Schwab MarketTrack Conservative Portfolio | Schwab Target 2030 Fund |
Schwab ® S&P 500 Index Fund | Schwab Target 2035 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2040 Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2045 Fund |
Schwab International Index Fund® | Schwab Target 2050 Fund |
Laudus Small-Cap MarketMasters Fund™ | Schwab Target 2055 Fund |
Laudus International MarketMasters Fund™ | Schwab Fundamental US Large Company Index Fund |
Schwab Balanced Fund™ | Schwab Fundamental US Small Company Index Fund |
Schwab Core Equity Fund™ | Schwab Fundamental International Large Company Index Fund |
Schwab Dividend Equity Fund™ | Schwab Fundamental International Small Company Index Fund |
Schwab Large-Cap Growth Fund™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab Small-Cap Equity Fund™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab Hedged Equity Fund™ | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab Financial Services Fund™ | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab Health Care Fund™ | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab ® International Core Equity Fund |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | |||
0.50% | 0.50% | 0.50% | 0.50% |
Underlying Funds | Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | ||||
Schwab Fundamental Emerging Markets Large Company Index Fund | 8.6% | 6.9% | 3.5% | 0.9% | ||||
Schwab Fundamental International Large Company Index Fund | 3.0% | 2.5% | 1.3% | 0.4% | ||||
Schwab Fundamental International Small Company Index Fund | 6.8% | 5.6% | 3.0% | 0.9% | ||||
Schwab International Index Fund | 2.8% | 2.4% | 1.3% | 0.4% | ||||
Schwab Fundamental US Large Company Index Fund | 1.6% | 1.8% | 0.9% | 0.3% | ||||
Schwab S&P 500 Index Fund | 0.9% | 0.9% | 0.5% | 0.1% | ||||
Schwab Fundamental US Small Company Index Fund | 3.1% | 3.0% | 1.6% | 0.5% | ||||
Schwab Small-Cap Index Fund | 3.8% | 3.9% | 2.1% | 0.6% | ||||
Schwab Total Bond Market Fund | —% | 8.3% | 13.9% | 9.7% | ||||
Schwab Value Advantage Money Fund, Ultra Shares (formerly named Institutional Prime Shares) | —% | 0.1% | 0.1% | 0.0%* |
* | Less than 0.05% |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Fundamental Emerging Markets Large Company Index Fund | — | 4,200,094 | (292,829) | 3,907,265 | $26,061,460 | $54,286 | $— | |||||||
Schwab Fundamental International Large Company Index Fund | — | 4,555,578 | (320,018) | 4,235,560 | 34,689,239 | 172,527 | — | |||||||
Schwab Fundamental International Small Company Index Fund | — | 2,706,827 | (134,969) | 2,571,858 | 28,933,405 | 113,949 | — | |||||||
Schwab International Index Fund | 9,522,611 | 487,507 | (5,691,398) | 4,318,720 | 79,853,140 | 10,247,234 | 5,828,152 | |||||||
Schwab Fundamental US Large Company Index Fund | — | 5,508,130 | (358,963) | 5,149,167 | 77,958,384 | (3,859) | — | |||||||
Schwab S&P 500 Index Fund | 8,701,477 | 208,359 | (3,347,697) | 5,562,139 | 183,550,585 | 40,286,143 | 4,944,916 | |||||||
Schwab Fundamental US Small Company Index Fund | — | 3,602,228 | (210,412) | 3,391,816 | 43,483,075 | 70,136 | — | |||||||
Schwab Small-Cap Index Fund | 5,509,666 | 537,454 | (2,236,293) | 3,810,827 | 100,186,645 | 12,911,336 | 10,287,839 | |||||||
Total | $574,715,933 | $63,851,752 | $21,060,907 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Fundamental Emerging Markets Large Company Index Fund | — | 3,414,169 | (258,963) | 3,155,206 | $21,045,225 | $109,653 | $— | |||||||
Schwab Fundamental International Large Company Index Fund | — | 3,723,756 | (180,011) | 3,543,745 | 29,023,268 | 48,630 | — | |||||||
Schwab Fundamental International Small Company Index Fund | — | 2,182,031 | (52,738) | 2,129,293 | 23,954,549 | 7,540 | — | |||||||
Schwab International Index Fund | 7,441,640 | 489,127 | (4,262,636) | 3,668,131 | 67,823,748 | 13,674,153 | 4,607,791 | |||||||
Schwab Fundamental US Large Company Index Fund | — | 5,939,478 | (272,480) | 5,666,998 | 85,798,350 | 42,572 | — | |||||||
Schwab S&P 500 Index Fund | 9,305,006 | 244,232 | (3,448,667) | 6,100,571 | 201,318,830 | 45,741,590 | 5,325,253 | |||||||
Schwab Fundamental US Small Company Index Fund | — | 3,513,965 | (155,456) | 3,358,509 | 43,056,083 | 11,385 | — | |||||||
Schwab Small-Cap Index Fund | 5,229,959 | 562,500 | (1,953,950) | 3,838,509 | 100,914,407 | 12,364,652 | 9,854,887 | |||||||
Schwab Total Bond Market Fund | 11,309,453 | 1,490,468 | (1,510,089) | 11,289,832 | 107,140,508 | 3,652 | 2,362,660 | |||||||
Schwab Value Advantage Money Fund, Ultra Shares (formerly named Institutional Prime Shares) | 11,051,882 | 5,072 | — | 11,056,954 | 11,056,954 | — | 5,546 | |||||||
Total | $691,131,922 | $72,003,827 | $22,156,137 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Fundamental Emerging Markets Large Company Index Fund | — | 1,880,016 | (265,389) | 1,614,627 | $10,769,562 | ($81,096) | $— | |||||||
Schwab Fundamental International Large Company Index Fund | — | 2,085,393 | (181,936) | 1,903,457 | 15,589,309 | 17,000 | — | |||||||
Schwab Fundamental International Small Company Index Fund | — | 1,215,068 | (75,061) | 1,140,007 | 12,825,082 | (6,650) | — | |||||||
Schwab International Index Fund | 3,955,097 | 398,137 | (2,374,648) | 1,978,586 | 36,584,047 | 8,715,469 | 2,388,467 | |||||||
Schwab Fundamental US Large Company Index Fund | — | 3,363,504 | (325,611) | 3,037,893 | 45,993,704 | 30,639 | — | |||||||
Schwab S&P 500 Index Fund | 4,990,453 | 363,662 | (2,076,002) | 3,278,113 | 108,177,731 | 33,198,305 | 2,779,634 | |||||||
Schwab Fundamental US Small Company Index Fund | — | 1,995,919 | (194,533) | 1,801,386 | 23,093,767 | (1,320) | — | |||||||
Schwab Small-Cap Index Fund | 2,792,568 | 455,110 | (1,185,199) | 2,062,479 | 54,222,581 | 7,327,853 | 5,117,073 | |||||||
Schwab Total Bond Market Fund | 18,994,620 | 3,427,353 | (3,518,802) | 18,903,171 | 179,391,089 | (8,335) | 3,947,237 | |||||||
Schwab Value Advantage Money Fund, Ultra Shares (formerly named Institutional Prime Shares) | 8,034,427 | 3,687 | — | 8,038,114 | 8,038,114 | — | 4,032 | |||||||
Total | $494,684,986 | $49,191,865 | $14,236,443 |
Underlying Funds | Balance of Shares Held at 10/31/14 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/15 | Market Value at 10/31/15 | Realized Gains (Losses) 11/01/14 to 10/31/15 | Distributions Received* 11/01/14 to 10/31/15 | |||||||
Schwab Fundamental Emerging Markets Large Company Index Fund | — | 534,451 | (101,755) | 432,696 | $2,886,084 | ($86,017) | $— | |||||||
Schwab Fundamental International Large Company Index Fund | — | 595,018 | (40,687) | 554,331 | 4,539,971 | 4,191 | — | |||||||
Schwab Fundamental International Small Company Index Fund | — | 356,703 | (19,110) | 337,593 | 3,797,927 | (1,767) | — | |||||||
Schwab International Index Fund | 1,118,477 | 120,070 | (640,949) | 597,598 | 11,049,595 | 2,574,615 | 688,613 | |||||||
Schwab Fundamental US Large Company Index Fund | — | 977,677 | (78,542) | 899,135 | 13,612,911 | 3,132 | — | |||||||
Schwab S&P 500 Index Fund | 1,436,471 | 105,047 | (566,932) | 974,586 | 32,161,325 | 9,071,417 | 812,608 | |||||||
Schwab Fundamental US Small Company Index Fund | — | 565,081 | (32,384) | 532,697 | 6,829,182 | (1,340) | — | |||||||
Schwab Small-Cap Index Fund | 796,611 | 138,408 | (322,080) | 612,939 | 16,114,161 | 1,834,760 | 1,482,520 | |||||||
Schwab Total Bond Market Fund | 12,812,537 | 1,562,107 | (1,178,416) | 13,196,228 | 125,232,206 | (40,777) | 2,713,599 | |||||||
Schwab Value Advantage Money Fund, Ultra Shares (formerly named Institutional Prime Shares) | 3,487,830 | 1,601 | — | 3,489,431 | 3,489,431 | — | 1,750 | |||||||
Total | $219,712,793 | $13,358,214 | $5,699,090 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Purchases of Securities | Sales/Maturities of Securities | ||
Schwab MarketTrack All Equity Portfolio | $253,555,908 | $281,907,000 | |
Schwab MarketTrack Growth Portfolio | 257,021,135 | 262,135,000 | |
Schwab MarketTrack Balanced Portfolio | 182,370,207 | 185,636,000 | |
Schwab MarketTrack Conservative Portfolio | 58,312,413 | 52,228,000 |
Current Period (11/1/14-10/31/15) | Prior Period (11/1/13-10/31/14) | ||
Schwab MarketTrack All Equity Portfolio | $10,890 | $12,743 | |
Schwab MarketTrack Growth Portfolio | 5,446 | 11,814 | |
Schwab MarketTrack Balanced Portfolio | 13,097 | 10,547 | |
Schwab MarketTrack Conservative Portfolio | 1,921 | 1,606 |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | ||||
Undistributed ordinary income | $10,705,994 | $— | $2,059,381 | $154,755 | |||
Undistributed long-term capital gains | 38,822,621 | 78,131,538 | 52,630,219 | 12,776,660 | |||
Unrealized appreciation on investments | 144,680,311 | 213,644,637 | 114,739,603 | 32,789,376 | |||
Unrealized depreciation on investments | (3,301,825) | (2,764,428) | (1,361,342) | (383,899) | |||
Net unrealized appreciation (depreciation) | $141,378,486 | $210,880,209 | $113,378,261 | $32,405,477 |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | ||||
Late-year ordinary losses deferred | $— | $522,853 | $— | $— | |||
Capital loss carryforwards utilized | 29,570,316 | — | — | 838,110 |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | ||||
Current period distributions | |||||||
Ordinary income | $8,349,307 | $11,176,663 | $9,693,210 | $3,590,423 | |||
Long-term capital gains | — | 12,409,011 | 7,173,967 | — | |||
Return of capital | — | — | — | — | |||
Prior period distributions | |||||||
Ordinary income | $9,729,315 | $9,625,225 | $6,922,856 | $3,306,277 | |||
Long-term capital gains | — | — | 3,022,728 | — | |||
Return of capital | — | — | — | — |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | ||||
Capital shares | $— | $— | $— | $— | |||
Undistributed net investment income | 598,219 | 573,044 | 297,550 | 86,206 | |||
Net realized capital gains (losses) | (598,219) | (573,044) | (297,550) | (86,206) |
Schwab MarketTrack All Equity Portfolio
Schwab MarketTrack Growth Portfolio
Schwab MarketTrack Balanced Portfolio
Schwab MarketTrack Conservative Portfolio
San Francisco, California
December 16, 2015
Percentage | |
Schwab MarketTrack All Equity Portfolio | 67.70 |
Schwab MarketTrack Growth Portfolio | 57.17 |
Schwab MarketTrack Balanced Portfolio | 36.98 |
Schwab MarketTrack Conservative Portfolio | 27.07 |
Schwab MarketTrack All Equity Portfolio | $8,349,307 |
Schwab MarketTrack Growth Portfolio | 10,166,963 |
Schwab MarketTrack Balanced Portfolio | 5,622,172 |
Schwab MarketTrack Conservative Portfolio | 1,534,682 |
Schwab MarketTrack All Equity Portfolio | $— |
Schwab MarketTrack Growth Portfolio | 12,409,011 |
Schwab MarketTrack Balanced Portfolio | 7,173,967 |
Schwab MarketTrack Conservative Portfolio | — |
The Investment Company Act of 1940 (the 1940 Act) requires that initial approval of, as well as the continuation of, a fund’s investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or “interested persons” of any party (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund’s trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.
1. | the nature, extent and quality of the services provided to the Funds under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 74 | Director, Gilead Sciences, Inc. (2005 – present) |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Private Investor. | 74 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013) | 74 | Director, KLA-Tencor Corporation (2008 – present) |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 95 | None |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 74 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust and Laudus Institutional Trust since 2010) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 74 | Board Member and Chairman of the Audit Committee, Isis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Charles R. Schwab2 1937 Chairman and Trustee (Chairman and Trustee of The Charles Schwab Family of Funds since 1989; Schwab Investments since 1991; Schwab Capital Trust since 1993; Schwab Annuity Portfolios since 1994; Laudus Trust and Laudus Institutional Trust since 2010) | Chairman and Director, The Charles Schwab Corporation (1986 – present); Chairman and Director of Charles Schwab & Co., Inc. (1971 – present); Chairman and Director of Charles Schwab Investment Management, Inc. (1989 – present); Chairman and Director of Charles Schwab Bank (2003 – present); Chairman and Chief Executive Officer of Schwab (SIS) Holdings Inc. I and Schwab International Holdings, Inc. (1996 – present); and Director, Chairman and Chief Executive Officer, Schwab Holdings, Inc. (1979 – present). | 74 | Chairman and Director, The Charles Schwab Corporation (1986 – present) Director, Yahoo! Inc. (2014 – present) |
Walter W. Bettinger II2 1960 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (2008 – present); Director, Charles Schwab Bank (2006 – present); and Director, Schwab Holdings, Inc. (2008 – present). | 95 | Director, The Charles Schwab Corporation (2008 – present) |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
George Pereira 1964 Treasurer and Principal Financial Officer, Schwab Funds Treasurer and Chief Financial Officer, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust and Laudus Institutional Trust since 2006) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – present); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – present) and Schwab ETFs (Oct. 2009 – present); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (April 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – April 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (April 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (April 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (April 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Laudus Trust and Laudus Institutional Trust since 2005) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Trustees remain in office until they resign, retire or are removed by shareholder vote. The Schwab and Laudus Funds’ retirement policy requires that independent trustees retire at age 72 or after twenty years as a trustee, whichever comes first. In addition, the retirement policy requires any independent trustee of Schwab Funds or Laudus Funds to retire from all Boards upon their required retirement date from either Board. |
2 | Mr. Schwab and Mr. Bettinger are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Boards. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Schwab Dividend Equity Fund™
Schwab Large-Cap Growth Fund™
Schwab Small-Cap Equity Fund™
Schwab Hedged Equity Fund™
Schwab Financial Services Fund™
Schwab Health Care Fund™
Schwab® International Core Equity Fund
Schwab Fundamental US Large Company Index Fund
Schwab Fundamental US Small Company Index Fund
Schwab Fundamental International Large Company Index Fund
Schwab Fundamental International Small Company Index Fund
Schwab Fundamental Emerging Markets Large Company Index Fund
Schwab Fundamental Global Real Estate Index Fund
Schwab Global Real Estate Fund™
Schwab® S&P 500 Index Fund
Schwab 1000 Index® Fund
Schwab Small-Cap Index Fund®
Schwab Total Stock Market Index Fund®
Schwab International Index Fund®
Schwab MarketTrack All Equity Portfolio™
Schwab MarketTrack Growth Portfolio™
Schwab MarketTrack Balanced Portfolio™
Schwab MarketTrack Conservative Portfolio™
Schwab Target 2010 Fund
Schwab Target 2015 Fund
Schwab Target 2020 Fund
Schwab Target 2025 Fund
Schwab Target 2030 Fund
Schwab Target 2035 Fund
Schwab Target 2040 Fund
Schwab Target 2045 Fund
Schwab Target 2050 Fund
Schwab Target 2055 Fund
Schwab® Monthly Income Fund – Moderate Payout
Schwab® Monthly Income Fund – Enhanced Payout
Schwab® Monthly Income Fund – Maximum Payout
Schwab Intermediate-Term Bond Fund™
Schwab Total Bond Market Fund™
Schwab GNMA Fund™
Schwab® Treasury Inflation Protected Securities Index Fund
Schwab Tax-Free Bond Fund™
Schwab California Tax-Free Bond Fund™
1 | Investments in money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency and, although they seek to preserve the value of your investment at $1 per share, it is possible to lose money. |
211 Main Street, San Francisco, CA 94105
1-800-435-4000
© 2015 Charles Schwab & Co., Inc. All rights reserved.
Member SIPC®
Printed on recycled paper.
00156959
Table of Contents
Item 2: Code of Ethics.
(a) | Registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer, and any other persons who perform a similar function, regardless of whether these individuals are employed by Registrant or a third party. |
(c) | During the period covered by the report, no amendments were made to the provisions of this code of ethics. |
(d) | During the period covered by the report, Registrant did not grant any waivers, including implicit waivers, from the provisions of this code of ethics. |
(f)(1) | Registrant has filed this code of ethics as an exhibit pursuant to Item 12(a)(1) of Form N-CSR. |
Item 3: Audit Committee Financial Expert.
Registrant’s Board of Trustees has determined that that Kiran Patel, John Cogan, and David Mahoney, each currently serving on its audit committee, are each an “audit committee financial expert,” as such term is defined in Item 3 of Form N-CSR. Each member of Registrant’s audit committee is “independent” under the standards set forth in Item 3 of Form N-CSR.
The designation of each of Mr. Patel, Mr. Cogan, and Mr. Mahoney as an “audit committee financial expert” pursuant to Item 3 of Form N-CSR does not (i) impose upon such individual any duties, obligations, or liability that are greater than the duties, obligations and liability imposed upon such individual as a member of Registrant’s audit committee or Board of Trustees in the absence of such designation; and (ii) affect the duties, obligations or liability of any other member of Registrant’s audit committee or Board of Trustees.
Item 4: Principal Accountant Fees and Services.
Registrant is composed of thirty-eight series. Thirty-four series have a fiscal year-end of October 31, whose annual financial statements are reported in Item 1, three series have a fiscal year-end of December 31, and one series has a fiscal year-end of February 28. Principal accountant fees disclosed in Items 4(a)-(d) and 4(g) include fees billed for services rendered to each of the thirty-eight series, based on their respective 2015 and 2014 fiscal years, as applicable.
The following table presents fees billed by the principal accountant in each of the last two fiscal years for the services rendered to the Funds:
Table of Contents
(a) Audit Fees | (b)Audit-Related Fees1 | (c) Tax Fees2 | (d) All Other Fees3 | |||||||||||||||||||||||||
Fiscal Year 2015 | Fiscal Year 2014 | Fiscal Year 2015 | Fiscal Year 2014 | Fiscal Year 2015 | Fiscal Year 2014 | Fiscal Year 2015 | Fiscal Year 2014 | |||||||||||||||||||||
$ 1,275,248 | $ | 1,301,980 | $ | 0 | $ | 88,798 | $ | 126,645 | $ | 108,614 | $ | 11,487 | $ | 5,251 |
1 | The nature of the services includes assurance and related services reasonably related to the performance of the audit of financial statements not included in Audit Fees. |
2 | The nature of the services includes tax compliance, tax advice and tax planning. |
3 | The nature of the services include agreed upon procedures relating to Charles Schwab Investment Management., Inc.’s, (“CSIM”) expenses for purposes of Section 15(c) of the Investment Company Act of 1940. |
(e) | (1) | Registrant’s audit committee does not have pre-approval policies and procedures as described in paragraph (c)(7) of Rule 2-01 of Regulation S-X. | ||
(2) | There were no services described in each of paragraphs (b) through (d) above (including services required to be approved by Registrant’s audit committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X) that were approved by Registrant’s audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. |
(f) Not applicable.
(g) Below are the aggregate non-audit fees billed in each of the last two fiscal years by Registrant’s principal accountant for services rendered to Registrant, to Registrant’s investment adviser, and to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant.
2015: | $ | 138,132 | 2014: | $ | 202,663 |
Although not required to be included in the amounts disclosed under this paragraph (g) or any other paragraph of this Item 4, below are the aggregate fees billed in each of the last two fiscal years by Registrant’s principal accountant for tax compliance services rendered to U.S. Trust, an entity under common control with Registrant’s investment adviser that does not provide services to Registrant.
(h) | During the past fiscal year, all non-audit services provided by Registrant’s principal accountant to either Registrant’s investment adviser or to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant were pre-approved. Included in the audit committee’s pre-approval was the review and consideration as to whether the provision of these non-audit services is compatible with maintaining the principal accountant’s independence. |
Table of Contents
Item 5: Audit Committee of Listed Registrants.
Not applicable.
Item 6: Schedule of Investments.
Except as noted below, the condensed schedules of investments are included as part of the report to shareholders filed under Item 1 of this Form. The schedules of investments for the Schwab Fundamental US Large Company Index Fund, Schwab Fundamental US Small Company Index Fund, Schwab Fundamental International Large Company Index Fund, Schwab Fundamental International Small Company Index Fund, Schwab Fundamental Emerging Markets Large Company Index Fund, Schwab S&P 500 Index Fund, Schwab Small-Cap Index Fund, Schwab Total Stock Market Index Fund and Schwab International Index Fund are filed under this Item.
Table of Contents
Holdings by Category | Cost ($) | Value ($) | |
99.3% | Common Stock | 12,296,413,364 | 21,436,762,073 |
0.1% | Other Investment Company | 22,609,285 | 22,609,285 |
0.6% | Short-Term Investment | 120,801,912 | 120,801,912 |
100.0% | Total Investments | 12,439,824,561 | 21,580,173,270 |
0.0% | Other Assets and Liabilities, Net | 6,331,869 | |
100.0% | Net Assets | 21,586,505,139 |
Security | Number of Shares | Value ($) |
Common Stock 99.3% of net assets | ||
Automobiles & Components 1.0% | ||
BorgWarner, Inc. | 261,400 | 11,193,149 |
Delphi Automotive plc | 336,400 | 27,985,116 |
Ford Motor Co. | 4,533,997 | 67,148,496 |
General Motors Co. | 1,688,400 | 58,942,044 |
Harley-Davidson, Inc. | 246,470 | 12,187,941 |
Johnson Controls, Inc. | 758,859 | 34,285,250 |
The Goodyear Tire & Rubber Co. | 304,936 | 10,014,098 |
221,756,094 | ||
Banks 5.8% | ||
Bank of America Corp. | 12,227,811 | 205,182,669 |
BB&T Corp. | 911,226 | 33,852,046 |
Citigroup, Inc. | 3,519,347 | 187,123,680 |
Comerica, Inc. | 211,070 | 9,160,438 |
Fifth Third Bancorp | 940,929 | 17,924,698 |
Hudson City Bancorp, Inc. | 594,892 | 6,020,307 |
Huntington Bancshares, Inc. | 891,893 | 9,784,066 |
JPMorgan Chase & Co. | 4,331,031 | 278,268,742 |
KeyCorp | 1,027,498 | 12,761,525 |
M&T Bank Corp. | 152,698 | 18,300,855 |
People's United Financial, Inc. | 343,300 | 5,475,635 |
Regions Financial Corp. | 1,567,445 | 14,655,611 |
SunTrust Banks, Inc. | 605,816 | 25,153,480 |
The PNC Financial Services Group, Inc. | 605,578 | 54,659,470 |
U.S. Bancorp | 1,932,928 | 81,530,903 |
Security | Number of Shares | Value ($) |
Wells Fargo & Co. | 5,453,509 | 295,252,977 |
Zions Bancorp | 250,998 | 7,221,213 |
1,262,328,315 | ||
Capital Goods 7.2% | ||
3M Co. | 732,719 | 115,190,754 |
Allegion plc | 115,333 | 7,516,252 |
AMETEK, Inc. | 289,400 | 15,864,908 |
Caterpillar, Inc. | 707,762 | 51,659,548 |
Cummins, Inc. | 195,962 | 20,284,027 |
Danaher Corp. | 695,174 | 64,866,686 |
Deere & Co. | 364,586 | 28,437,708 |
Dover Corp. | 181,270 | 11,679,226 |
Eaton Corp. plc | 545,538 | 30,501,030 |
Emerson Electric Co. | 766,615 | 36,207,226 |
Fastenal Co. | 329,398 | 12,899,226 |
Flowserve Corp. | 150,300 | 6,967,908 |
Fluor Corp. | 174,382 | 8,337,203 |
General Dynamics Corp. | 353,060 | 52,457,655 |
General Electric Co. | 11,824,352 | 341,960,260 |
Honeywell International, Inc. | 917,329 | 94,741,739 |
Illinois Tool Works, Inc. | 389,036 | 35,767,970 |
Ingersoll-Rand plc | 308,100 | 18,258,006 |
Jacobs Engineering Group, Inc. * | 139,834 | 5,612,937 |
L-3 Communications Holdings, Inc. | 97,283 | 12,296,571 |
Lockheed Martin Corp. | 312,591 | 68,716,880 |
Masco Corp. | 385,388 | 11,176,252 |
Northrop Grumman Corp. | 218,167 | 40,960,854 |
PACCAR, Inc. | 410,350 | 21,604,927 |
Parker-Hannifin Corp. | 164,036 | 17,174,569 |
Pentair plc | 208,982 | 11,686,273 |
Precision Castparts Corp. | 161,427 | 37,258,966 |
Quanta Services, Inc. * | 231,900 | 4,663,509 |
Raytheon Co. | 358,588 | 42,098,231 |
Rockwell Automation, Inc. | 159,921 | 17,456,976 |
Rockwell Collins, Inc. | 158,605 | 13,754,226 |
Roper Technologies, Inc. | 117,800 | 21,952,030 |
Snap-on, Inc. | 66,282 | 10,995,521 |
Stanley Black & Decker, Inc. | 179,881 | 19,063,788 |
Textron, Inc. | 316,904 | 13,363,842 |
The Boeing Co. | 745,254 | 110,349,760 |
United Rentals, Inc. * | 110,100 | 8,242,086 |
United Technologies Corp. | 970,735 | 95,530,031 |
W.W. Grainger, Inc. | 69,927 | 14,684,670 |
Xylem, Inc. | 197,600 | 7,194,616 |
1,559,434,847 | ||
Commercial & Professional Supplies 0.7% | ||
Cintas Corp. | 111,376 | 10,367,992 |
Equifax, Inc. | 136,561 | 14,553,306 |
Nielsen Holdings plc | 438,300 | 20,823,633 |
Pitney Bowes, Inc. | 231,591 | 4,782,354 |
Republic Services, Inc. | 289,334 | 12,655,469 |
Robert Half International, Inc. | 156,742 | 8,254,034 |
Stericycle, Inc. * | 98,600 | 11,967,082 |
The ADT Corp. | 194,500 | 6,426,280 |
The Dun & Bradstreet Corp. | 46,800 | 5,329,116 |
Tyco International plc | 505,300 | 18,413,132 |
Security | Number of Shares | Value ($) |
Verisk Analytics, Inc. * | 185,000 | 13,247,850 |
Waste Management, Inc. | 497,616 | 26,751,836 |
153,572,084 | ||
Consumer Durables & Apparel 1.5% | ||
Coach, Inc. | 327,028 | 10,203,274 |
D.R. Horton, Inc. | 384,416 | 11,317,207 |
Fossil Group, Inc. * | 54,900 | 2,987,109 |
Garmin Ltd. | 131,100 | 4,650,117 |
Hanesbrands, Inc. | 481,600 | 15,382,304 |
Harman International Industries, Inc. | 85,956 | 9,451,722 |
Hasbro, Inc. | 126,117 | 9,689,569 |
Leggett & Platt, Inc. | 157,894 | 7,109,967 |
Lennar Corp., Class A | 195,618 | 9,794,593 |
Mattel, Inc. | 384,094 | 9,441,031 |
Michael Kors Holdings Ltd. * | 230,600 | 8,910,384 |
Mohawk Industries, Inc. * | 72,100 | 14,095,550 |
Newell Rubbermaid, Inc. | 326,350 | 13,847,030 |
NIKE, Inc., Class B | 793,024 | 103,909,935 |
PulteGroup, Inc. | 370,186 | 6,785,509 |
PVH Corp. | 99,900 | 9,085,905 |
Ralph Lauren Corp. | 69,126 | 7,657,087 |
Under Armour, Inc., Class A * | 211,200 | 20,080,896 |
VF Corp. | 390,964 | 26,397,889 |
Whirlpool Corp. | 88,922 | 14,239,969 |
315,037,047 | ||
Consumer Services 1.9% | ||
Carnival Corp. | 531,921 | 28,766,288 |
Chipotle Mexican Grill, Inc. * | 36,959 | 23,662,261 |
Darden Restaurants, Inc. | 130,948 | 8,104,372 |
H&R Block, Inc. | 317,305 | 11,822,784 |
Marriott International, Inc., Class A | 227,872 | 17,496,012 |
McDonald's Corp. | 1,102,438 | 123,748,666 |
Royal Caribbean Cruises Ltd. | 198,200 | 19,492,970 |
Starbucks Corp. | 1,740,024 | 108,873,302 |
Starwood Hotels & Resorts Worldwide, Inc. | 202,568 | 16,179,106 |
Wyndham Worldwide Corp. | 136,364 | 11,093,211 |
Wynn Resorts Ltd. (b) | 95,000 | 6,645,250 |
Yum! Brands, Inc. | 501,985 | 35,595,756 |
411,479,978 | ||
Diversified Financials 4.9% | ||
Affiliated Managers Group, Inc. * | 66,000 | 11,897,160 |
American Express Co. | 993,941 | 72,816,118 |
Ameriprise Financial, Inc. | 210,214 | 24,250,287 |
Berkshire Hathaway, Inc., Class B * | 2,187,130 | 297,493,423 |
BlackRock, Inc. | 149,700 | 52,689,909 |
Capital One Financial Corp. | 636,474 | 50,217,799 |
CME Group, Inc. | 393,485 | 37,172,528 |
Discover Financial Services | 507,173 | 28,513,266 |
E*TRADE Financial Corp. * | 354,519 | 10,107,337 |
Franklin Resources, Inc. | 452,905 | 18,460,408 |
Intercontinental Exchange, Inc. | 131,066 | 33,081,058 |
Invesco Ltd. | 497,347 | 16,497,000 |
Legg Mason, Inc. | 137,198 | 6,139,610 |
Security | Number of Shares | Value ($) |
Leucadia National Corp. | 379,851 | 7,600,819 |
McGraw Hill Financial, Inc. | 321,467 | 29,780,703 |
Moody's Corp. | 201,329 | 19,359,797 |
Morgan Stanley | 1,770,254 | 58,365,274 |
Nasdaq, Inc. | 142,400 | 8,243,536 |
Navient Corp. | 465,000 | 6,133,350 |
Northern Trust Corp. | 256,018 | 18,021,107 |
State Street Corp. | 477,026 | 32,914,794 |
T. Rowe Price Group, Inc. | 303,279 | 22,933,958 |
The Bank of New York Mellon Corp. | 1,287,873 | 53,639,910 |
The Charles Schwab Corp. (a) | 1,402,481 | 42,803,720 |
The Goldman Sachs Group, Inc. | 467,469 | 87,650,437 |
1,046,783,308 | ||
Energy 7.1% | ||
Anadarko Petroleum Corp. | 589,009 | 39,392,922 |
Apache Corp. | 445,806 | 21,010,837 |
Baker Hughes, Inc. | 512,463 | 26,996,551 |
Cabot Oil & Gas Corp. | 498,700 | 10,826,777 |
Cameron International Corp. * | 224,600 | 15,275,046 |
Chesapeake Energy Corp. (b) | 577,766 | 4,119,472 |
Chevron Corp. | 2,205,834 | 200,466,194 |
Cimarex Energy Co. | 108,400 | 12,797,704 |
Columbia Pipeline Group, Inc. | 374,662 | 7,781,730 |
ConocoPhillips | 1,449,690 | 77,340,961 |
CONSOL Energy, Inc. | 264,418 | 1,761,024 |
Devon Energy Corp. | 454,458 | 19,055,424 |
Diamond Offshore Drilling, Inc. (b) | 65,300 | 1,298,164 |
Ensco plc, Class A | 258,200 | 4,293,866 |
EOG Resources, Inc. | 644,212 | 55,305,600 |
EQT Corp. | 177,100 | 11,700,997 |
Exxon Mobil Corp. | 4,871,741 | 403,087,850 |
FMC Technologies, Inc. * | 275,300 | 9,313,399 |
Halliburton Co. | 1,010,268 | 38,774,086 |
Helmerich & Payne, Inc. | 118,300 | 6,656,741 |
Hess Corp. | 291,140 | 16,364,979 |
Kinder Morgan, Inc. | 2,104,644 | 57,562,013 |
Marathon Oil Corp. | 790,952 | 14,537,698 |
Marathon Petroleum Corp. | 632,852 | 32,781,734 |
Murphy Oil Corp. | 184,892 | 5,256,480 |
National Oilwell Varco, Inc. | 454,724 | 17,115,811 |
Newfield Exploration Co. * | 187,300 | 7,527,587 |
Noble Energy, Inc. | 498,668 | 17,872,261 |
Occidental Petroleum Corp. | 901,150 | 67,171,721 |
ONEOK, Inc. | 253,100 | 8,585,152 |
Phillips 66 | 560,795 | 49,938,795 |
Pioneer Natural Resources Co. | 175,400 | 24,054,356 |
Range Resources Corp. | 191,200 | 5,820,128 |
Schlumberger Ltd. | 1,475,715 | 115,341,884 |
Southwestern Energy Co. * | 437,000 | 4,824,480 |
Spectra Energy Corp. | 773,309 | 22,093,438 |
Tesoro Corp. | 139,107 | 14,874,711 |
The Williams Cos., Inc. | 795,098 | 31,358,665 |
Transocean Ltd. (b) | 424,000 | 6,711,920 |
Valero Energy Corp. | 576,540 | 38,005,517 |
1,525,054,675 |
Security | Number of Shares | Value ($) |
Food & Staples Retailing 2.2% | ||
Costco Wholesale Corp. | 515,492 | 81,509,595 |
CVS Health Corp. | 1,302,751 | 128,685,744 |
Sysco Corp. | 644,357 | 26,579,726 |
The Kroger Co. | 1,146,094 | 43,322,353 |
Wal-Mart Stores, Inc. | 1,845,802 | 105,653,707 |
Walgreens Boots Alliance, Inc. | 1,021,711 | 86,518,487 |
Whole Foods Market, Inc. | 416,432 | 12,476,303 |
484,745,915 | ||
Food, Beverage & Tobacco 5.5% | ||
Altria Group, Inc. | 2,296,091 | 138,844,623 |
Archer-Daniels-Midland Co. | 724,899 | 33,098,888 |
Brown-Forman Corp., Class B | 124,692 | 13,239,797 |
Campbell Soup Co. | 210,511 | 10,691,854 |
Coca-Cola Enterprises, Inc. | 237,862 | 12,211,835 |
ConAgra Foods, Inc. | 508,149 | 20,605,442 |
Constellation Brands, Inc., Class A | 203,565 | 27,440,562 |
Dr Pepper Snapple Group, Inc. | 219,200 | 19,589,904 |
General Mills, Inc. | 693,280 | 40,286,501 |
Hormel Foods Corp. | 162,800 | 10,997,140 |
Kellogg Co. | 293,934 | 20,728,226 |
Keurig Green Mountain, Inc. | 139,900 | 7,099,925 |
McCormick & Co., Inc. - Non Voting Shares | 142,802 | 11,992,512 |
Mead Johnson Nutrition Co. | 233,400 | 19,138,800 |
Molson Coors Brewing Co., Class B | 180,530 | 15,904,693 |
Mondelez International, Inc., Class A | 1,894,654 | 87,457,229 |
Monster Beverage Corp. * | 178,500 | 24,333,120 |
PepsiCo, Inc. | 1,721,163 | 175,885,647 |
Philip Morris International, Inc. | 1,807,546 | 159,787,066 |
Reynolds American, Inc. | 961,950 | 46,481,424 |
The Coca-Cola Co. | 4,587,756 | 194,291,467 |
The Hershey Co. | 170,528 | 15,124,128 |
The JM Smucker Co. | 123,075 | 14,447,774 |
The Kraft Heinz Co. | 690,318 | 53,824,094 |
Tyson Foods, Inc., Class A | 354,790 | 15,738,484 |
1,189,241,135 | ||
Health Care Equipment & Services 4.8% | ||
Abbott Laboratories | 1,736,286 | 77,785,613 |
Aetna, Inc. | 404,475 | 46,425,640 |
AmerisourceBergen Corp. | 244,646 | 23,610,785 |
Anthem, Inc. | 309,329 | 43,043,130 |
Baxter International, Inc. | 635,189 | 23,749,717 |
Becton, Dickinson & Co. | 246,898 | 35,187,903 |
Boston Scientific Corp. * | 1,570,774 | 28,713,749 |
C.R. Bard, Inc. | 84,373 | 15,722,909 |
Cardinal Health, Inc. | 378,733 | 31,131,853 |
Cerner Corp. * | 361,900 | 23,990,351 |
Cigna Corp. | 302,108 | 40,494,556 |
DaVita HealthCare Partners, Inc. * | 204,000 | 15,812,040 |
DENTSPLY International, Inc. | 170,400 | 10,368,840 |
Edwards Lifesciences Corp. * | 123,600 | 19,423,740 |
Express Scripts Holding Co. * | 790,495 | 68,282,958 |
HCA Holdings, Inc. * | 373,200 | 25,672,428 |
Security | Number of Shares | Value ($) |
Henry Schein, Inc. * | 97,100 | 14,731,041 |
Humana, Inc. | 175,903 | 31,421,553 |
Intuitive Surgical, Inc. * | 43,531 | 21,617,495 |
Laboratory Corp. of America Holdings * | 115,791 | 14,212,187 |
McKesson Corp. | 271,175 | 48,486,090 |
Medtronic plc | 1,656,176 | 122,424,530 |
Patterson Cos., Inc. | 104,447 | 4,950,788 |
Quest Diagnostics, Inc. | 171,680 | 11,665,656 |
St. Jude Medical, Inc. | 327,187 | 20,877,802 |
Stryker Corp. | 372,740 | 35,641,399 |
Tenet Healthcare Corp. * | 112,904 | 3,541,798 |
UnitedHealth Group, Inc. | 1,116,010 | 131,443,658 |
Universal Health Services, Inc., Class B | 108,400 | 13,234,556 |
Varian Medical Systems, Inc. * | 110,706 | 8,693,742 |
Zimmer Biomet Holdings, Inc. | 194,223 | 20,309,899 |
1,032,668,406 | ||
Household & Personal Products 1.9% | ||
Colgate-Palmolive Co. | 1,051,094 | 69,740,087 |
Kimberly-Clark Corp. | 423,995 | 50,756,441 |
The Clorox Co. | 150,257 | 18,322,339 |
The Estee Lauder Cos., Inc., Class A | 265,052 | 21,326,084 |
The Procter & Gamble Co. | 3,167,690 | 241,948,162 |
402,093,113 | ||
Insurance 2.7% | ||
ACE Ltd. | 382,300 | 43,406,342 |
Aflac, Inc. | 507,873 | 32,376,904 |
American International Group, Inc. | 1,513,654 | 95,451,021 |
Aon plc | 323,350 | 30,171,788 |
Assurant, Inc. | 74,246 | 6,053,276 |
Cincinnati Financial Corp. | 173,003 | 10,419,971 |
Genworth Financial, Inc., Class A * | 548,164 | 2,565,408 |
Lincoln National Corp. | 294,671 | 15,767,845 |
Loews Corp. | 326,316 | 11,897,481 |
Marsh & McLennan Cos., Inc. | 625,279 | 34,853,051 |
MetLife, Inc. | 1,304,877 | 65,739,703 |
Principal Financial Group, Inc. | 316,567 | 15,879,001 |
Prudential Financial, Inc. | 522,431 | 43,100,557 |
The Allstate Corp. | 467,610 | 28,935,707 |
The Chubb Corp. | 268,093 | 34,677,830 |
The Hartford Financial Services Group, Inc. | 496,495 | 22,967,859 |
The Progressive Corp. | 687,520 | 22,777,538 |
The Travelers Cos., Inc. | 363,560 | 41,042,288 |
Torchmark Corp. | 143,266 | 8,310,861 |
Unum Group | 276,440 | 9,578,646 |
XL Group plc | 362,299 | 13,796,346 |
589,769,423 | ||
Materials 2.9% | ||
Air Products & Chemicals, Inc. | 227,101 | 31,562,497 |
Airgas, Inc. | 75,000 | 7,212,000 |
Alcoa, Inc. | 1,553,564 | 13,873,326 |
Avery Dennison Corp. | 103,076 | 6,696,848 |
Security | Number of Shares | Value ($) |
Ball Corp. | 167,938 | 11,503,753 |
CF Industries Holdings, Inc. | 265,925 | 13,501,012 |
E.I. du Pont de Nemours & Co. | 1,048,404 | 66,468,814 |
Eastman Chemical Co. | 172,716 | 12,464,914 |
Ecolab, Inc. | 309,228 | 37,215,590 |
FMC Corp. | 158,300 | 6,444,393 |
Freeport-McMoRan, Inc. | 1,204,040 | 14,171,551 |
International Flavors & Fragrances, Inc. | 89,743 | 10,415,573 |
International Paper Co. | 494,389 | 21,105,466 |
LyondellBasell Industries N.V., Class A | 437,100 | 40,610,961 |
Martin Marietta Materials, Inc. | 80,300 | 12,458,545 |
Monsanto Co. | 544,400 | 50,748,968 |
Newmont Mining Corp. | 638,546 | 12,426,105 |
Nucor Corp. | 375,200 | 15,870,960 |
Owens-Illinois, Inc. * | 198,600 | 4,279,830 |
PPG Industries, Inc. | 313,896 | 32,726,797 |
Praxair, Inc. | 333,579 | 37,057,291 |
Sealed Air Corp. | 236,068 | 11,595,660 |
Sigma-Aldrich Corp. | 141,954 | 19,833,813 |
The Dow Chemical Co. | 1,359,235 | 70,231,672 |
The Mosaic Co. | 397,200 | 13,421,388 |
The Sherwin-Williams Co. | 91,636 | 24,451,234 |
Vulcan Materials Co. | 151,071 | 14,590,437 |
WestRock Co. | 310,489 | 16,691,889 |
629,631,287 | ||
Media 3.3% | ||
Cablevision Systems Corp., Class A | 272,100 | 8,867,739 |
CBS Corp., Class B - Non Voting Shares | 513,036 | 23,866,435 |
Comcast Corp., Class A | 2,900,664 | 181,639,580 |
Discovery Communications, Inc., Class A * | 159,800 | 4,704,512 |
Discovery Communications, Inc., Class C * | 310,500 | 8,544,960 |
News Corp., Class A | 443,000 | 6,822,200 |
News Corp., Class B | 126,200 | 1,953,576 |
Omnicom Group, Inc. | 280,047 | 20,981,121 |
Scripps Networks Interactive, Inc., Class A | 116,593 | 7,004,907 |
TEGNA, Inc. | 270,314 | 7,309,291 |
The Interpublic Group of Cos., Inc. | 456,265 | 10,462,157 |
The Walt Disney Co. | 1,815,683 | 206,515,784 |
Time Warner Cable, Inc. | 331,001 | 62,691,589 |
Time Warner, Inc. | 958,774 | 72,234,033 |
Twenty-First Century Fox, Inc., Class A | 1,925,801 | 59,102,833 |
Viacom, Inc., Class B | 417,053 | 20,564,883 |
703,265,600 | ||
Pharmaceuticals, Biotechnology & Life Sciences 9.7% | ||
AbbVie, Inc. | 1,937,286 | 115,365,381 |
Agilent Technologies, Inc. | 379,266 | 14,321,084 |
Alexion Pharmaceuticals, Inc. * | 261,900 | 46,094,400 |
Allergan plc * | 461,268 | 142,287,340 |
Amgen, Inc. | 888,459 | 140,536,445 |
Security | Number of Shares | Value ($) |
Baxalta, Inc. | 635,189 | 21,888,613 |
Biogen, Inc. * | 261,491 | 75,965,750 |
Bristol-Myers Squibb Co. | 1,947,464 | 128,435,251 |
Celgene Corp. * | 922,626 | 113,215,436 |
Eli Lilly & Co. | 1,146,723 | 93,538,195 |
Endo International plc * | 238,600 | 14,313,614 |
Gilead Sciences, Inc. | 1,718,450 | 185,815,999 |
Johnson & Johnson | 3,234,925 | 326,824,473 |
Mallinckrodt plc * | 134,700 | 8,845,749 |
Merck & Co., Inc. | 3,295,514 | 180,132,795 |
Mylan N.V. * | 480,751 | 21,196,312 |
PerkinElmer, Inc. | 141,360 | 7,299,830 |
Perrigo Co., plc | 171,500 | 27,052,410 |
Pfizer, Inc. | 7,215,333 | 244,022,562 |
Regeneron Pharmaceuticals, Inc. * | 90,600 | 50,499,534 |
Thermo Fisher Scientific, Inc. | 467,237 | 61,105,255 |
Vertex Pharmaceuticals, Inc. * | 288,700 | 36,012,438 |
Waters Corp. * | 92,352 | 11,802,586 |
Zoetis, Inc. | 538,500 | 23,160,885 |
2,089,732,337 | ||
Real Estate 2.6% | ||
American Tower Corp. | 494,600 | 50,562,958 |
Apartment Investment & Management Co., Class A | 179,414 | 7,031,235 |
AvalonBay Communities, Inc. | 159,299 | 27,850,244 |
Boston Properties, Inc. | 176,476 | 22,209,505 |
CBRE Group, Inc., Class A * | 337,440 | 12,579,763 |
Crown Castle International Corp. | 389,900 | 33,320,854 |
Equinix, Inc. | 66,700 | 19,788,556 |
Equity Residential | 424,522 | 32,824,041 |
Essex Property Trust, Inc. | 74,900 | 16,510,956 |
General Growth Properties, Inc. | 696,300 | 20,157,885 |
HCP, Inc. | 527,700 | 19,630,440 |
Host Hotels & Resorts, Inc. | 870,411 | 15,084,223 |
Iron Mountain, Inc. | 240,402 | 7,365,917 |
Kimco Realty Corp. | 475,559 | 12,730,714 |
Plum Creek Timber Co., Inc. | 203,177 | 8,277,431 |
Prologis, Inc. | 621,689 | 26,564,771 |
Public Storage | 170,278 | 39,071,990 |
Realty Income Corp. | 283,000 | 13,997,180 |
Simon Property Group, Inc. | 363,153 | 73,160,803 |
SL Green Realty Corp. | 118,300 | 14,032,746 |
The Macerich Co. | 152,700 | 12,939,798 |
Ventas, Inc. | 390,500 | 20,977,660 |
Vornado Realty Trust | 203,856 | 20,497,721 |
Welltower, Inc. | 416,300 | 27,005,381 |
Weyerhaeuser Co. | 596,940 | 17,508,250 |
571,681,022 | ||
Retailing 5.4% | ||
Advance Auto Parts, Inc. | 85,000 | 16,866,550 |
Amazon.com, Inc. * | 448,780 | 280,891,402 |
AutoNation, Inc. * | 91,733 | 5,796,608 |
AutoZone, Inc. * | 36,498 | 28,629,396 |
Bed Bath & Beyond, Inc. * | 194,069 | 11,572,335 |
Best Buy Co., Inc. | 359,257 | 12,584,773 |
CarMax, Inc. * | 239,400 | 14,126,994 |
Dollar General Corp. | 350,300 | 23,739,831 |
Security | Number of Shares | Value ($) |
Dollar Tree, Inc. * | 275,330 | 18,031,362 |
Expedia, Inc. | 114,513 | 15,608,122 |
GameStop Corp., Class A (b) | 119,100 | 5,486,937 |
Genuine Parts Co. | 178,638 | 16,213,185 |
Kohl's Corp. | 231,910 | 10,695,689 |
L Brands, Inc. | 303,235 | 29,104,495 |
Lowe's Cos., Inc. | 1,075,988 | 79,440,194 |
Macy's, Inc. | 382,226 | 19,485,882 |
Netflix, Inc. * | 503,100 | 54,525,978 |
Nordstrom, Inc. | 164,796 | 10,746,347 |
O'Reilly Automotive, Inc. * | 116,800 | 32,267,168 |
Ross Stores, Inc. | 476,200 | 24,086,196 |
Signet Jewelers Ltd. | 94,000 | 14,188,360 |
Staples, Inc. | 781,869 | 10,156,478 |
Target Corp. | 734,408 | 56,681,609 |
The Gap, Inc. | 277,162 | 7,544,350 |
The Home Depot, Inc. | 1,502,950 | 185,824,738 |
The Priceline Group, Inc. * | 59,315 | 86,258,246 |
The TJX Cos., Inc. | 789,406 | 57,776,625 |
Tiffany & Co. | 125,428 | 10,340,284 |
Tractor Supply Co. | 162,600 | 15,022,614 |
TripAdvisor, Inc. * | 129,813 | 10,875,733 |
Urban Outfitters, Inc. * | 111,100 | 3,177,460 |
1,167,745,941 | ||
Semiconductors & Semiconductor Equipment 2.4% | ||
Altera Corp. | 358,646 | 18,846,847 |
Analog Devices, Inc. | 366,554 | 22,037,227 |
Applied Materials, Inc. | 1,383,972 | 23,209,210 |
Avago Technologies Ltd. | 305,700 | 37,640,841 |
Broadcom Corp., Class A | 656,918 | 33,765,585 |
First Solar, Inc. * | 94,900 | 5,415,943 |
Intel Corp. | 5,564,705 | 188,420,911 |
KLA-Tencor Corp. | 185,081 | 12,422,637 |
Lam Research Corp. | 181,374 | 13,891,435 |
Linear Technology Corp. | 282,568 | 12,551,671 |
Microchip Technology, Inc. | 240,423 | 11,610,027 |
Micron Technology, Inc. * | 1,245,975 | 20,633,346 |
NVIDIA Corp. | 601,582 | 17,066,881 |
Qorvo, Inc. * | 175,400 | 7,705,322 |
Skyworks Solutions, Inc. | 220,000 | 16,992,800 |
Texas Instruments, Inc. | 1,211,454 | 68,713,671 |
Xilinx, Inc. | 313,563 | 14,931,870 |
525,856,224 | ||
Software & Services 11.9% | ||
Accenture plc, Class A | 729,400 | 78,191,680 |
Activision Blizzard, Inc. | 584,000 | 20,299,840 |
Adobe Systems, Inc. * | 582,776 | 51,668,920 |
Akamai Technologies, Inc. * | 202,841 | 12,336,790 |
Alliance Data Systems Corp. * | 72,500 | 21,554,975 |
Alphabet, Inc., Class A * | 336,212 | 247,919,367 |
Alphabet, Inc., Class C * | 349,175 | 248,197,082 |
Autodesk, Inc. * | 269,681 | 14,883,694 |
Automatic Data Processing, Inc. | 543,373 | 47,268,017 |
CA, Inc. | 370,925 | 10,278,332 |
Citrix Systems, Inc. * | 193,308 | 15,870,587 |
Cognizant Technology Solutions Corp., Class A * | 708,596 | 48,262,473 |
Computer Sciences Corp. | 162,140 | 10,796,903 |
Security | Number of Shares | Value ($) |
eBay, Inc. * | 1,297,169 | 36,191,015 |
Electronic Arts, Inc. * | 357,392 | 25,757,241 |
Facebook, Inc., Class A * | 2,644,800 | 269,690,256 |
Fidelity National Information Services, Inc. | 335,634 | 24,474,431 |
Fiserv, Inc. * | 280,704 | 27,090,743 |
International Business Machines Corp. | 1,053,390 | 147,558,871 |
Intuit, Inc. | 328,609 | 32,016,375 |
MasterCard, Inc., Class A | 1,167,690 | 115,589,633 |
Microsoft Corp. | 9,356,331 | 492,517,264 |
Oracle Corp. | 3,803,386 | 147,723,512 |
Paychex, Inc. | 371,965 | 19,185,955 |
PayPal Holdings, Inc. * | 1,297,169 | 46,711,056 |
Red Hat, Inc. * | 210,100 | 16,621,011 |
salesforce.com, Inc. * | 726,665 | 56,469,137 |
Symantec Corp. | 793,750 | 16,351,250 |
Teradata Corp. * | 159,871 | 4,493,974 |
The Western Union Co. | 573,025 | 11,030,731 |
Total System Services, Inc. | 207,100 | 10,862,395 |
VeriSign, Inc. * | 112,125 | 9,037,275 |
Visa, Inc., Class A | 2,282,600 | 177,084,108 |
Xerox Corp. | 1,208,366 | 11,346,557 |
Yahoo! Inc. * | 1,012,455 | 36,063,647 |
2,561,395,097 | ||
Technology Hardware & Equipment 6.4% | ||
Amphenol Corp., Class A | 362,300 | 19,643,906 |
Apple, Inc. | 6,669,715 | 797,030,943 |
Cisco Systems, Inc. | 5,965,928 | 172,117,023 |
Corning, Inc. | 1,427,787 | 26,556,838 |
EMC Corp. | 2,259,645 | 59,247,892 |
F5 Networks, Inc. * | 82,400 | 9,080,480 |
FLIR Systems, Inc. | 149,700 | 3,992,499 |
Harris Corp. | 145,100 | 11,481,763 |
Hewlett-Packard Co. | 2,113,108 | 56,969,392 |
Juniper Networks, Inc. | 403,065 | 12,652,210 |
Motorola Solutions, Inc. | 186,422 | 13,043,947 |
NetApp, Inc. | 342,374 | 11,640,716 |
QUALCOMM, Inc. | 1,836,165 | 109,104,924 |
SanDisk Corp. | 247,324 | 19,043,948 |
Seagate Technology plc | 351,900 | 13,393,314 |
TE Connectivity Ltd. | 468,700 | 30,203,028 |
Western Digital Corp. | 268,300 | 17,927,806 |
1,383,130,629 | ||
Telecommunication Services 2.4% | ||
AT&T, Inc. | 7,206,802 | 241,499,935 |
CenturyLink, Inc. | 645,643 | 18,213,589 |
Frontier Communications Corp. | 1,396,845 | 7,179,783 |
Level 3 Communications, Inc. * | 329,800 | 16,803,310 |
Verizon Communications, Inc. | 4,763,278 | 223,302,473 |
506,999,090 | ||
Transportation 2.2% | ||
American Airlines Group, Inc. | 779,100 | 36,010,002 |
C.H. Robinson Worldwide, Inc. | 168,095 | 11,662,431 |
CSX Corp. | 1,148,591 | 31,000,471 |
Delta Air Lines, Inc. | 925,300 | 47,042,252 |
Security | Number of Shares | Value ($) |
Expeditors International of Washington, Inc. | 216,900 | 10,799,451 |
FedEx Corp. | 306,768 | 47,871,146 |
JB Hunt Transport Services, Inc. | 108,100 | 8,255,597 |
Kansas City Southern | 129,400 | 10,709,144 |
Norfolk Southern Corp. | 357,892 | 28,642,097 |
Ryder System, Inc. | 60,702 | 4,357,190 |
Southwest Airlines Co. | 780,136 | 36,112,495 |
Union Pacific Corp. | 1,014,150 | 90,614,303 |
United Continental Holdings, Inc. * | 450,000 | 27,139,500 |
United Parcel Service, Inc., Class B | 816,618 | 84,127,986 |
474,344,065 | ||
Utilities 2.9% | ||
AES Corp. | 781,249 | 8,554,677 |
AGL Resources, Inc. | 146,540 | 9,158,750 |
Ameren Corp. | 287,020 | 12,537,034 |
American Electric Power Co., Inc. | 585,802 | 33,185,683 |
CenterPoint Energy, Inc. | 514,366 | 9,541,489 |
CMS Energy Corp. | 317,784 | 11,462,469 |
Consolidated Edison, Inc. | 347,565 | 22,852,399 |
Dominion Resources, Inc. | 687,064 | 49,076,982 |
DTE Energy Co. | 202,612 | 16,531,113 |
Duke Energy Corp. | 807,599 | 57,719,101 |
Edison International | 390,093 | 23,608,428 |
Entergy Corp. | 209,653 | 14,289,948 |
Eversource Energy | 359,500 | 18,312,930 |
Exelon Corp. | 1,009,093 | 28,173,877 |
FirstEnergy Corp. | 488,694 | 15,247,253 |
NextEra Energy, Inc. | 540,638 | 55,501,897 |
NiSource, Inc. | 374,662 | 7,178,524 |
NRG Energy, Inc. | 378,600 | 4,880,154 |
Pepco Holdings, Inc. | 316,200 | 8,420,406 |
PG&E Corp. | 580,506 | 30,999,020 |
Pinnacle West Capital Corp. | 125,361 | 7,961,677 |
PPL Corp. | 790,470 | 27,192,168 |
Public Service Enterprise Group, Inc. | 582,070 | 24,033,670 |
SCANA Corp. | 157,500 | 9,327,150 |
Sempra Energy | 270,569 | 27,708,971 |
TECO Energy, Inc. | 273,819 | 7,393,113 |
The Southern Co. | 1,065,625 | 48,059,687 |
WEC Energy Group, Inc. | 369,078 | 19,029,662 |
Xcel Energy, Inc. | 591,586 | 21,078,209 |
629,016,441 | ||
Total Common Stock | ||
(Cost $12,296,413,364) | 21,436,762,073 | |
Other Investment Company 0.1% of net assets | ||
Securities Lending Collateral 0.1% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (c) | 22,609,285 | 22,609,285 |
Total Other Investment Company | ||
(Cost $22,609,285) | 22,609,285 |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.6% of net assets | ||
Time Deposit 0.6% | ||
JPMorgan Chase Bank | ||
0.03%, 11/02/15 | 120,801,912 | 120,801,912 |
Total Short-Term Investment | ||
(Cost $120,801,912) | 120,801,912 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $22,505,104. |
(c) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 1,200 | 124,422,000 | 5,465,100 |
Holdings by Category | Cost ($) | Value ($) | |
99.4% | Common Stock | 2,065,086,022 | 6,513,773,763 |
0.7% | Other Investment Companies | 45,418,794 | 45,418,794 |
100.1% | Total Investments | 2,110,504,816 | 6,559,192,557 |
(0.1%) | Other Assets and Liabilities, Net | (9,269,301) | |
100.0% | Net Assets | 6,549,923,256 |
Security | Number of Shares | Value ($) |
Common Stock 99.4% of net assets | ||
Automobiles & Components 1.2% | ||
Autoliv, Inc. | 29,200 | 3,540,208 |
BorgWarner, Inc. | 69,096 | 2,958,691 |
Dana Holding Corp. | 50,100 | 841,680 |
Delphi Automotive plc | 91,200 | 7,586,928 |
Ford Motor Co. | 1,208,087 | 17,891,768 |
General Motors Co. | 448,100 | 15,643,171 |
Gentex Corp. | 97,544 | 1,598,746 |
Harley-Davidson, Inc. | 66,292 | 3,278,139 |
Johnson Controls, Inc. | 209,054 | 9,445,060 |
Lear Corp. | 23,600 | 2,951,416 |
Tesla Motors, Inc. * | 30,600 | 6,332,058 |
The Goodyear Tire & Rubber Co. | 83,100 | 2,729,004 |
Visteon Corp. * | 12,000 | 1,308,840 |
76,105,709 | ||
Banks 5.5% | ||
Bank of America Corp. | 3,277,241 | 54,992,104 |
BB&T Corp. | 242,700 | 9,016,305 |
BOK Financial Corp. | 8,900 | 597,902 |
CIT Group, Inc. | 50,900 | 2,188,700 |
Citigroup, Inc. | 945,456 | 50,269,896 |
Comerica, Inc. | 51,128 | 2,218,955 |
Commerce Bancshares, Inc. | 26,650 | 1,213,908 |
Cullen/Frost Bankers, Inc. | 16,900 | 1,156,636 |
East West Bancorp, Inc. | 45,800 | 1,849,862 |
Fifth Third Bancorp | 259,984 | 4,952,695 |
First Republic Bank | 40,200 | 2,625,462 |
Hudson City Bancorp, Inc. | 146,840 | 1,486,021 |
Huntington Bancshares, Inc. | 244,898 | 2,686,531 |
Investors Bancorp, Inc. | 108,730 | 1,360,212 |
JPMorgan Chase & Co. | 1,160,878 | 74,586,412 |
KeyCorp | 259,914 | 3,228,132 |
Security | Number of Shares | Value ($) |
M&T Bank Corp. | 42,943 | 5,146,719 |
New York Community Bancorp, Inc. | 149,882 | 2,476,051 |
PacWest Bancorp | 30,300 | 1,364,712 |
People's United Financial, Inc. | 103,793 | 1,655,498 |
Popular, Inc. | 31,600 | 934,412 |
Prosperity Bancshares, Inc. | 15,900 | 816,942 |
Regions Financial Corp. | 427,606 | 3,998,116 |
Signature Bank * | 15,700 | 2,338,044 |
SunTrust Banks, Inc. | 164,193 | 6,817,293 |
SVB Financial Group * | 14,900 | 1,818,843 |
Synovus Financial Corp. | 44,657 | 1,412,501 |
TFS Financial Corp. | 27,300 | 479,388 |
The PNC Financial Services Group, Inc. | 160,634 | 14,498,825 |
U.S. Bancorp | 519,005 | 21,891,631 |
Umpqua Holdings Corp. | 67,000 | 1,118,900 |
Wells Fargo & Co. | 1,466,996 | 79,423,163 |
Zions Bancorp | 63,198 | 1,818,206 |
362,438,977 | ||
Capital Goods 7.4% | ||
3M Co. | 193,754 | 30,460,066 |
A.O. Smith Corp. | 25,400 | 1,951,228 |
Acuity Brands, Inc. | 14,300 | 3,125,980 |
AECOM * | 49,700 | 1,464,659 |
AGCO Corp. | 24,200 | 1,171,038 |
Air Lease Corp. | 31,700 | 1,068,607 |
Allegion plc | 28,700 | 1,870,379 |
Allison Transmission Holdings, Inc. | 52,700 | 1,512,490 |
AMETEK, Inc. | 75,105 | 4,117,256 |
B/E Aerospace, Inc. | 31,700 | 1,488,315 |
Carlisle Cos., Inc. | 20,736 | 1,804,032 |
Caterpillar, Inc. | 190,796 | 13,926,200 |
Chicago Bridge & Iron Co., N.V. (b) | 27,108 | 1,216,336 |
CLARCOR, Inc. | 18,200 | 907,452 |
Colfax Corp. * | 27,300 | 736,008 |
Crane Co. | 16,384 | 862,454 |
Cummins, Inc. | 53,492 | 5,536,957 |
Curtiss-Wright Corp. | 15,200 | 1,057,312 |
Danaher Corp. | 188,440 | 17,583,336 |
Deere & Co. | 95,946 | 7,483,788 |
Donaldson Co., Inc. | 43,500 | 1,313,700 |
Dover Corp. | 50,237 | 3,236,770 |
Eaton Corp. plc | 149,101 | 8,336,237 |
Emerson Electric Co. | 200,228 | 9,456,768 |
Esterline Technologies Corp. * | 10,100 | 778,205 |
Fastenal Co. (b) | 92,300 | 3,614,468 |
Flowserve Corp. | 43,023 | 1,994,546 |
Fluor Corp. | 47,658 | 2,278,529 |
Fortune Brands Home & Security, Inc. | 52,900 | 2,768,257 |
General Dynamics Corp. | 93,944 | 13,958,200 |
General Electric Co. | 3,162,802 | 91,468,234 |
Graco, Inc. | 20,294 | 1,489,580 |
HD Supply Holdings, Inc. * | 51,900 | 1,546,101 |
HEICO Corp. | 5,006 | 252,503 |
Hexcel Corp. | 33,500 | 1,551,720 |
Honeywell International, Inc. | 243,699 | 25,169,233 |
Hubbell, Inc., Class B | 16,932 | 1,639,864 |
Huntington Ingalls Industries, Inc. | 16,200 | 1,943,028 |
IDEX Corp. | 24,006 | 1,842,701 |
Security | Number of Shares | Value ($) |
Illinois Tool Works, Inc. | 106,104 | 9,755,202 |
Ingersoll-Rand plc | 82,400 | 4,883,024 |
ITT Corp. | 30,300 | 1,199,274 |
Jacobs Engineering Group, Inc. * | 38,756 | 1,555,666 |
Joy Global, Inc. | 26,308 | 451,971 |
L-3 Communications Holdings, Inc. | 25,874 | 3,270,474 |
Lennox International, Inc. | 11,700 | 1,553,877 |
Lincoln Electric Holdings, Inc. | 22,200 | 1,327,782 |
Lockheed Martin Corp. | 84,264 | 18,523,755 |
Masco Corp. | 108,836 | 3,156,244 |
MSC Industrial Direct Co., Inc., Class A | 15,558 | 976,576 |
Nordson Corp. | 18,000 | 1,282,320 |
Northrop Grumman Corp. | 57,932 | 10,876,733 |
Orbital ATK, Inc. | 18,500 | 1,583,970 |
Oshkosh Corp. | 23,600 | 969,724 |
Owens Corning | 36,900 | 1,680,057 |
PACCAR, Inc. | 113,889 | 5,996,256 |
Parker-Hannifin Corp. | 44,553 | 4,664,699 |
Pentair plc | 57,895 | 3,237,488 |
Precision Castparts Corp. | 42,901 | 9,901,980 |
Quanta Services, Inc. * | 59,400 | 1,194,534 |
Raytheon Co. | 96,090 | 11,280,966 |
Rockwell Automation, Inc. | 42,649 | 4,655,565 |
Rockwell Collins, Inc. | 40,653 | 3,525,428 |
Roper Technologies, Inc. | 32,591 | 6,073,333 |
Sensata Technologies Holding N.V. * | 50,100 | 2,409,309 |
Snap-on, Inc. | 17,250 | 2,861,602 |
SolarCity Corp. *(b) | 15,700 | 465,505 |
Spirit AeroSystems Holdings, Inc., Class A * | 37,400 | 1,972,476 |
SPX Corp. | 12,614 | 154,522 |
Stanley Black & Decker, Inc. | 46,641 | 4,943,013 |
Teledyne Technologies, Inc. * | 12,600 | 1,124,298 |
Textron, Inc. | 88,938 | 3,750,515 |
The Boeing Co. | 200,889 | 29,745,634 |
The Middleby Corp. * | 18,300 | 2,140,002 |
The Timken Co. | 21,394 | 676,050 |
The Toro Co. | 19,200 | 1,445,184 |
TransDigm Group, Inc. * | 16,600 | 3,649,510 |
Trinity Industries, Inc. | 44,200 | 1,196,494 |
United Rentals, Inc. * | 31,467 | 2,355,620 |
United Technologies Corp. | 258,203 | 25,409,757 |
USG Corp. * | 29,200 | 688,244 |
W.W. Grainger, Inc. | 19,476 | 4,089,960 |
WABCO Holdings, Inc. * | 18,000 | 2,020,140 |
Wabtec Corp. | 28,800 | 2,386,656 |
Watsco, Inc. | 7,000 | 861,210 |
Xylem, Inc. | 53,400 | 1,944,294 |
483,849,430 | ||
Commercial & Professional Supplies 0.8% | ||
Cintas Corp. | 29,210 | 2,719,159 |
Copart, Inc. * | 36,074 | 1,306,240 |
Equifax, Inc. | 37,300 | 3,975,061 |
IHS, Inc., Class A * | 20,000 | 2,390,800 |
KAR Auction Services, Inc. | 44,400 | 1,704,960 |
ManpowerGroup, Inc. | 25,491 | 2,339,564 |
Nielsen Holdings plc | 116,700 | 5,544,417 |
Pitney Bowes, Inc. | 67,841 | 1,400,917 |
Security | Number of Shares | Value ($) |
R.R. Donnelley & Sons Co. | 58,400 | 985,208 |
Republic Services, Inc. | 69,681 | 3,047,847 |
Robert Half International, Inc. | 43,891 | 2,311,300 |
Rollins, Inc. | 32,850 | 881,037 |
Stericycle, Inc. * | 27,098 | 3,288,884 |
The ADT Corp. | 54,700 | 1,807,288 |
The Dun & Bradstreet Corp. | 10,925 | 1,244,030 |
Towers Watson & Co., Class A | 20,900 | 2,582,404 |
Tyco International plc | 126,900 | 4,624,236 |
Verisk Analytics, Inc. * | 47,800 | 3,422,958 |
Waste Connections, Inc. | 37,900 | 2,064,792 |
Waste Management, Inc. | 131,077 | 7,046,699 |
54,687,801 | ||
Consumer Durables & Apparel 1.5% | ||
Brunswick Corp. | 29,300 | 1,576,633 |
Carter's, Inc. | 17,300 | 1,572,224 |
Coach, Inc. | 91,330 | 2,849,496 |
D.R. Horton, Inc. | 107,597 | 3,167,656 |
Fossil Group, Inc. * | 13,700 | 745,417 |
Garmin Ltd. | 39,886 | 1,414,756 |
GoPro, Inc., Class A *(b) | 23,300 | 582,500 |
Hanesbrands, Inc. | 121,600 | 3,883,904 |
Harman International Industries, Inc. | 23,697 | 2,605,722 |
Hasbro, Inc. | 34,225 | 2,629,507 |
Jarden Corp. * | 63,675 | 2,852,640 |
Kate Spade & Co. * | 39,500 | 709,815 |
Leggett & Platt, Inc. | 46,944 | 2,113,888 |
Lennar Corp., Class A | 51,975 | 2,602,388 |
lululemon athletica, Inc. * | 34,500 | 1,696,365 |
Mattel, Inc. | 102,797 | 2,526,750 |
Michael Kors Holdings Ltd. * | 58,300 | 2,252,712 |
Mohawk Industries, Inc. * | 19,439 | 3,800,325 |
Newell Rubbermaid, Inc. | 88,526 | 3,756,158 |
NIKE, Inc., Class B | 211,456 | 27,707,080 |
NVR, Inc. * | 1,098 | 1,798,260 |
Polaris Industries, Inc. | 19,200 | 2,156,928 |
PulteGroup, Inc. | 98,799 | 1,810,986 |
PVH Corp. | 25,514 | 2,320,498 |
Ralph Lauren Corp. | 18,395 | 2,037,614 |
Tempur Sealy International, Inc. * | 18,900 | 1,471,176 |
Toll Brothers, Inc. * | 50,000 | 1,798,500 |
Under Armour, Inc., Class A * | 56,200 | 5,343,496 |
VF Corp. | 108,528 | 7,327,811 |
Whirlpool Corp. | 24,515 | 3,925,832 |
101,037,037 | ||
Consumer Services 2.3% | ||
Aramark | 65,800 | 1,997,030 |
Bloomin' Brands, Inc. | 33,500 | 568,495 |
Bright Horizons Family Solutions, Inc. * | 12,900 | 825,858 |
Brinker International, Inc. | 17,700 | 805,527 |
Buffalo Wild Wings, Inc. * | 6,100 | 941,047 |
Carnival Corp. | 146,860 | 7,942,189 |
Chipotle Mexican Grill, Inc. * | 9,950 | 6,370,288 |
Choice Hotels International, Inc. | 11,700 | 612,027 |
Cracker Barrel Old Country Store, Inc. (b) | 8,100 | 1,113,426 |
Security | Number of Shares | Value ($) |
Darden Restaurants, Inc. | 34,165 | 2,114,472 |
Domino's Pizza, Inc. | 18,600 | 1,984,062 |
Dunkin' Brands Group, Inc. | 28,000 | 1,159,480 |
Extended Stay America, Inc. | 15,000 | 288,000 |
Graham Holdings Co., Class B | 1,254 | 692,797 |
H&R Block, Inc. | 84,898 | 3,163,299 |
Hilton Worldwide Holdings, Inc. | 164,800 | 4,118,352 |
Hyatt Hotels Corp., Class A * | 7,700 | 388,080 |
Jack in the Box, Inc. | 12,400 | 924,172 |
Las Vegas Sands Corp. | 117,863 | 5,835,397 |
Marriott International, Inc., Class A | 64,875 | 4,981,102 |
McDonald's Corp. | 293,636 | 32,960,641 |
MGM Resorts International * | 147,287 | 3,415,586 |
Norwegian Cruise Line Holdings Ltd. * | 48,900 | 3,111,018 |
Panera Bread Co., Class A * | 8,600 | 1,525,382 |
Royal Caribbean Cruises Ltd. | 52,391 | 5,152,655 |
Service Corp. International | 63,100 | 1,783,206 |
ServiceMaster Global Holdings, Inc. * | 32,600 | 1,162,190 |
Six Flags Entertainment Corp. | 30,200 | 1,571,608 |
Starbucks Corp. | 468,254 | 29,298,653 |
Starwood Hotels & Resorts Worldwide, Inc. | 54,542 | 4,356,270 |
The Wendy's Co. | 90,700 | 830,812 |
Vail Resorts, Inc. | 11,800 | 1,347,206 |
Wyndham Worldwide Corp. | 39,217 | 3,190,303 |
Wynn Resorts Ltd. (b) | 24,842 | 1,737,698 |
Yum! Brands, Inc. | 135,676 | 9,620,785 |
147,889,113 | ||
Diversified Financials 4.7% | ||
Affiliated Managers Group, Inc. * | 17,859 | 3,219,263 |
Ally Financial, Inc. * | 138,400 | 2,756,928 |
American Express Co. | 266,277 | 19,507,453 |
Ameriprise Financial, Inc. | 57,357 | 6,616,704 |
Artisan Partners Asset Management, Inc., Class A | 14,000 | 535,500 |
Berkshire Hathaway, Inc., Class B * | 588,012 | 79,981,392 |
BlackRock, Inc. | 39,765 | 13,996,087 |
Capital One Financial Corp. | 168,653 | 13,306,722 |
CBOE Holdings, Inc. | 25,400 | 1,702,816 |
CME Group, Inc. | 105,380 | 9,955,249 |
Discover Financial Services | 134,724 | 7,574,183 |
E*TRADE Financial Corp. * | 86,290 | 2,460,128 |
Eaton Vance Corp. | 39,084 | 1,411,323 |
FactSet Research Systems, Inc. | 12,900 | 2,259,048 |
Federated Investors, Inc., Class B | 30,200 | 928,046 |
Franklin Resources, Inc. | 124,158 | 5,060,680 |
Intercontinental Exchange, Inc. | 34,510 | 8,710,324 |
Invesco Ltd. | 135,190 | 4,484,252 |
Lazard Ltd., Class A | 40,900 | 1,894,488 |
Legg Mason, Inc. | 31,214 | 1,396,827 |
Leucadia National Corp. | 101,178 | 2,024,572 |
LPL Financial Holdings, Inc. (b) | 26,200 | 1,116,120 |
McGraw Hill Financial, Inc. | 84,736 | 7,849,943 |
Moody's Corp. | 56,526 | 5,435,540 |
Morgan Stanley | 475,748 | 15,685,412 |
MSCI, Inc. | 29,450 | 1,973,150 |
Nasdaq, Inc. | 36,337 | 2,103,549 |
Navient Corp. | 128,500 | 1,694,915 |
Security | Number of Shares | Value ($) |
Northern Trust Corp. | 70,876 | 4,988,962 |
NorthStar Asset Management Group, Inc. | 60,300 | 882,189 |
Raymond James Financial, Inc. | 39,649 | 2,185,056 |
Santander Consumer USA Holdings, Inc. * | 31,700 | 570,917 |
SEI Investments Co. | 42,148 | 2,184,109 |
SLM Corp. * | 136,624 | 964,565 |
Springleaf Holdings, Inc. * | 12,500 | 586,375 |
State Street Corp. | 129,150 | 8,911,350 |
T. Rowe Price Group, Inc. | 81,850 | 6,189,497 |
TD Ameritrade Holding Corp. | 87,231 | 3,006,853 |
The Bank of New York Mellon Corp. | 344,396 | 14,344,093 |
The Charles Schwab Corp. (a) | 375,265 | 11,453,088 |
The Goldman Sachs Group, Inc. | 126,432 | 23,706,000 |
Voya Financial, Inc. | 69,800 | 2,831,786 |
Waddell & Reed Financial, Inc., Class A | 29,000 | 1,071,260 |
309,516,714 | ||
Energy 6.7% | ||
Anadarko Petroleum Corp. | 159,148 | 10,643,818 |
Antero Resources Corp. *(b) | 17,500 | 412,475 |
Apache Corp. | 118,700 | 5,594,331 |
Baker Hughes, Inc. | 135,606 | 7,143,724 |
Cabot Oil & Gas Corp. | 135,396 | 2,939,447 |
Cameron International Corp. * | 59,300 | 4,032,993 |
Cheniere Energy, Inc. * | 74,900 | 3,709,048 |
Chesapeake Energy Corp. (b) | 162,497 | 1,158,604 |
Chevron Corp. | 588,837 | 53,513,507 |
Cimarex Energy Co. | 29,115 | 3,437,317 |
Cobalt International Energy, Inc. * | 89,900 | 689,533 |
Columbia Pipeline Group, Inc. | 95,880 | 1,991,428 |
Concho Resources, Inc. * | 38,200 | 4,427,762 |
ConocoPhillips | 385,266 | 20,553,941 |
CONSOL Energy, Inc. | 77,098 | 513,473 |
Continental Resources, Inc. * | 25,800 | 874,878 |
Core Laboratories N.V. | 13,300 | 1,547,189 |
Devon Energy Corp. | 123,082 | 5,160,828 |
Diamond Offshore Drilling, Inc. (b) | 23,629 | 469,745 |
Diamondback Energy, Inc. * | 17,700 | 1,306,968 |
Energen Corp. | 24,496 | 1,424,442 |
Ensco plc, Class A | 76,000 | 1,263,880 |
EOG Resources, Inc. | 173,304 | 14,878,148 |
EQT Corp. | 46,600 | 3,078,862 |
Exxon Mobil Corp. | 1,309,563 | 108,353,243 |
FMC Technologies, Inc. * | 72,568 | 2,454,975 |
Gulfport Energy Corp. * | 32,500 | 990,275 |
Halliburton Co. | 270,188 | 10,369,815 |
Helmerich & Payne, Inc. | 31,392 | 1,766,428 |
Hess Corp. | 74,123 | 4,166,454 |
HollyFrontier Corp. | 58,600 | 2,869,642 |
Kinder Morgan, Inc. | 566,917 | 15,505,180 |
Marathon Oil Corp. | 217,096 | 3,990,224 |
Marathon Petroleum Corp. | 171,000 | 8,857,800 |
Memorial Resource Development Corp. * | 22,800 | 403,332 |
Murphy Oil Corp. | 49,944 | 1,419,908 |
National Oilwell Varco, Inc. | 119,426 | 4,495,195 |
Newfield Exploration Co. * | 53,966 | 2,168,894 |
Security | Number of Shares | Value ($) |
Noble Corp., plc (b) | 85,800 | 1,155,726 |
Noble Energy, Inc. | 134,622 | 4,824,852 |
Occidental Petroleum Corp. | 239,416 | 17,846,069 |
Oceaneering International, Inc. | 28,900 | 1,214,378 |
ONEOK, Inc. | 66,824 | 2,266,670 |
Phillips 66 | 150,900 | 13,437,645 |
Pioneer Natural Resources Co. | 45,811 | 6,282,521 |
QEP Resources, Inc. | 44,400 | 686,424 |
Range Resources Corp. | 53,928 | 1,641,568 |
Schlumberger Ltd. | 397,547 | 31,072,273 |
Southwestern Energy Co. * | 121,188 | 1,337,916 |
Spectra Energy Corp. | 209,421 | 5,983,158 |
Targa Resources Corp. | 13,500 | 771,525 |
Tesoro Corp. | 39,812 | 4,257,097 |
The Williams Cos., Inc. | 214,321 | 8,452,820 |
Transocean Ltd. (b) | 113,100 | 1,790,373 |
Valero Energy Corp. | 154,120 | 10,159,590 |
Weatherford International plc * | 229,600 | 2,351,104 |
Western Refining, Inc. | 18,800 | 782,456 |
Whiting Petroleum Corp. * | 64,700 | 1,114,781 |
World Fuel Services Corp. | 24,500 | 1,089,270 |
437,095,922 | ||
Food & Staples Retailing 2.1% | ||
Casey's General Stores, Inc. | 12,200 | 1,295,884 |
Costco Wholesale Corp. | 138,259 | 21,861,513 |
CVS Health Corp. | 350,211 | 34,593,843 |
Rite Aid Corp. * | 319,300 | 2,516,084 |
Sprouts Farmers Market, Inc. * | 39,400 | 802,972 |
Sysco Corp. | 173,130 | 7,141,612 |
The Kroger Co. | 305,626 | 11,552,663 |
United Natural Foods, Inc. * | 16,600 | 837,470 |
Wal-Mart Stores, Inc. | 494,027 | 28,278,105 |
Walgreens Boots Alliance, Inc. | 272,669 | 23,089,611 |
Whole Foods Market, Inc. | 110,632 | 3,314,535 |
135,284,292 | ||
Food, Beverage & Tobacco 5.1% | ||
Altria Group, Inc. | 617,605 | 37,346,574 |
Archer-Daniels-Midland Co. | 190,205 | 8,684,760 |
Brown-Forman Corp., Class B | 32,180 | 3,416,872 |
Bunge Ltd. | 45,892 | 3,348,280 |
Campbell Soup Co. | 53,858 | 2,735,448 |
Coca-Cola Enterprises, Inc. | 67,972 | 3,489,683 |
ConAgra Foods, Inc. | 136,097 | 5,518,733 |
Constellation Brands, Inc., Class A | 54,132 | 7,296,994 |
Dr Pepper Snapple Group, Inc. | 57,920 | 5,176,311 |
Flowers Foods, Inc. | 56,925 | 1,536,975 |
General Mills, Inc. | 191,600 | 11,133,876 |
Hormel Foods Corp. | 40,594 | 2,742,125 |
Ingredion, Inc. | 21,800 | 2,072,308 |
Kellogg Co. | 79,931 | 5,636,734 |
Keurig Green Mountain, Inc. | 38,000 | 1,928,500 |
McCormick & Co., Inc. - Non Voting Shares | 35,254 | 2,960,631 |
Mead Johnson Nutrition Co. | 62,500 | 5,125,000 |
Molson Coors Brewing Co., Class B | 49,272 | 4,340,863 |
Mondelez International, Inc., Class A | 505,364 | 23,327,602 |
Monster Beverage Corp. * | 48,100 | 6,556,992 |
Security | Number of Shares | Value ($) |
PepsiCo, Inc. | 463,285 | 47,343,094 |
Philip Morris International, Inc. | 484,265 | 42,809,026 |
Pilgrim's Pride Corp. (b) | 15,000 | 284,850 |
Pinnacle Foods, Inc. | 36,500 | 1,608,920 |
Reynolds American, Inc. | 255,692 | 12,355,038 |
Seaboard Corp. * | 105 | 353,640 |
The Boston Beer Co., Inc., Class A * | 2,800 | 614,852 |
The Coca-Cola Co. | 1,232,948 | 52,215,348 |
The Hain Celestial Group, Inc. * | 29,400 | 1,465,590 |
The Hershey Co. | 45,564 | 4,041,071 |
The JM Smucker Co. | 31,301 | 3,674,424 |
The Kraft Heinz Co. | 187,500 | 14,619,375 |
The WhiteWave Foods Co. * | 55,779 | 2,285,824 |
TreeHouse Foods, Inc. * | 13,600 | 1,164,704 |
Tyson Foods, Inc., Class A | 95,159 | 4,221,253 |
333,432,270 | ||
Health Care Equipment & Services 4.9% | ||
Abbott Laboratories | 469,946 | 21,053,581 |
Acadia Healthcare Co., Inc. * | 18,700 | 1,148,367 |
Aetna, Inc. | 109,934 | 12,618,224 |
Alere, Inc. * | 24,700 | 1,139,164 |
Align Technology, Inc. * | 23,400 | 1,531,764 |
AmerisourceBergen Corp. | 65,120 | 6,284,731 |
Anthem, Inc. | 81,423 | 11,330,010 |
athenahealth, Inc. * | 12,000 | 1,829,400 |
Baxter International, Inc. | 170,825 | 6,387,147 |
Becton, Dickinson & Co. | 64,307 | 9,165,034 |
Boston Scientific Corp. * | 428,007 | 7,823,968 |
Brookdale Senior Living, Inc. * | 58,000 | 1,212,780 |
C.R. Bard, Inc. | 23,600 | 4,397,860 |
Cardinal Health, Inc. | 104,010 | 8,549,622 |
Centene Corp. * | 39,100 | 2,325,668 |
Cerner Corp. * | 94,504 | 6,264,670 |
Cigna Corp. | 81,054 | 10,864,478 |
Community Health Systems, Inc. * | 35,624 | 998,897 |
DaVita HealthCare Partners, Inc. * | 53,450 | 4,142,909 |
DENTSPLY International, Inc. | 41,600 | 2,531,360 |
DexCom, Inc. * | 25,900 | 2,157,988 |
Edwards Lifesciences Corp. * | 34,592 | 5,436,133 |
Envision Healthcare Holdings, Inc. * | 57,400 | 1,618,680 |
Express Scripts Holding Co. * | 211,489 | 18,268,420 |
HCA Holdings, Inc. * | 99,800 | 6,865,242 |
Health Net, Inc. * | 24,400 | 1,567,944 |
HealthSouth Corp. | 27,400 | 954,342 |
Henry Schein, Inc. * | 25,919 | 3,932,171 |
Hologic, Inc. * | 76,970 | 2,991,054 |
Humana, Inc. | 46,391 | 8,286,824 |
IDEXX Laboratories, Inc. * | 29,996 | 2,058,325 |
IMS Health Holdings, Inc. * | 44,600 | 1,214,012 |
Intuitive Surgical, Inc. * | 11,341 | 5,631,941 |
Laboratory Corp. of America Holdings * | 30,368 | 3,727,368 |
McKesson Corp. | 72,247 | 12,917,764 |
MEDNAX, Inc. * | 28,208 | 1,987,818 |
Medtronic plc | 444,022 | 32,822,106 |
Patterson Cos., Inc. | 29,800 | 1,412,520 |
Premier, Inc., Class A * | 10,000 | 338,100 |
Quest Diagnostics, Inc. | 47,347 | 3,217,229 |
ResMed, Inc. | 43,716 | 2,518,479 |
Sirona Dental Systems, Inc. * | 18,900 | 2,062,557 |
Security | Number of Shares | Value ($) |
St. Jude Medical, Inc. | 87,455 | 5,580,504 |
STERIS Corp. | 17,800 | 1,334,110 |
Stryker Corp. | 97,854 | 9,356,799 |
Team Health Holdings, Inc. * | 22,500 | 1,342,575 |
Teleflex, Inc. | 13,846 | 1,841,518 |
Tenet Healthcare Corp. * | 33,425 | 1,048,542 |
The Cooper Cos., Inc. | 14,400 | 2,193,984 |
UnitedHealth Group, Inc. | 300,492 | 35,391,948 |
Universal Health Services, Inc., Class B | 27,874 | 3,403,137 |
Varian Medical Systems, Inc. * | 31,371 | 2,463,565 |
VCA, Inc. * | 26,300 | 1,440,451 |
Veeva Systems, Inc., Class A * | 22,000 | 558,140 |
WellCare Health Plans, Inc. * | 14,100 | 1,249,260 |
West Pharmaceutical Services, Inc. | 22,500 | 1,350,225 |
Zimmer Biomet Holdings, Inc. | 52,212 | 5,459,809 |
317,601,218 | ||
Household & Personal Products 1.8% | ||
Avon Products, Inc. | 146,436 | 590,137 |
Church & Dwight Co., Inc. | 44,094 | 3,796,052 |
Colgate-Palmolive Co. | 278,654 | 18,488,693 |
Coty, Inc., Class A | 30,200 | 874,290 |
Edgewell Personal Care Co. | 19,900 | 1,685,729 |
Energizer Holdings, Inc. | 19,900 | 852,317 |
Kimberly-Clark Corp. | 113,204 | 13,551,651 |
Spectrum Brands Holdings, Inc. | 8,200 | 785,970 |
The Clorox Co. | 41,725 | 5,087,947 |
The Estee Lauder Cos., Inc., Class A | 71,668 | 5,766,407 |
The Procter & Gamble Co. | 846,819 | 64,680,035 |
116,159,228 | ||
Insurance 3.0% | ||
ACE Ltd. | 103,000 | 11,694,620 |
Aflac, Inc. | 133,713 | 8,524,204 |
Alleghany Corp. * | 5,186 | 2,573,656 |
Allied World Assurance Co. Holdings AG | 33,600 | 1,221,696 |
American Financial Group, Inc. | 17,605 | 1,270,905 |
American International Group, Inc. | 405,976 | 25,600,847 |
AmTrust Financial Services, Inc. | 9,800 | 668,556 |
Aon plc | 88,603 | 8,267,546 |
Arch Capital Group Ltd. * | 37,000 | 2,770,930 |
Arthur J. Gallagher & Co. | 50,220 | 2,196,121 |
Assurant, Inc. | 19,192 | 1,564,724 |
Assured Guaranty Ltd. | 41,600 | 1,141,504 |
Axis Capital Holdings Ltd. | 33,562 | 1,812,348 |
Brown & Brown, Inc. | 39,476 | 1,273,891 |
Cincinnati Financial Corp. | 43,317 | 2,608,983 |
CNA Financial Corp. | 9,150 | 334,524 |
Erie Indemnity Co., Class A | 8,285 | 724,606 |
Everest Re Group Ltd. | 14,420 | 2,566,327 |
First American Financial Corp. | 31,600 | 1,204,908 |
FNF Group | 88,169 | 3,110,602 |
Genworth Financial, Inc., Class A * | 166,939 | 781,275 |
Lincoln National Corp. | 78,159 | 4,182,288 |
Loews Corp. | 82,358 | 3,002,773 |
Markel Corp. * | 4,447 | 3,859,996 |
Marsh & McLennan Cos., Inc. | 166,820 | 9,298,547 |
Security | Number of Shares | Value ($) |
Mercury General Corp. | 10,500 | 567,105 |
MetLife, Inc. | 353,344 | 17,801,471 |
Old Republic International Corp. | 86,909 | 1,567,838 |
PartnerRe Ltd. | 15,809 | 2,197,451 |
Principal Financial Group, Inc. | 88,009 | 4,414,531 |
Prudential Financial, Inc. | 141,897 | 11,706,502 |
Reinsurance Group of America, Inc. | 19,510 | 1,760,582 |
RenaissanceRe Holdings Ltd. | 13,907 | 1,524,624 |
The Allstate Corp. | 124,698 | 7,716,312 |
The Chubb Corp. | 71,112 | 9,198,337 |
The Hartford Financial Services Group, Inc. | 130,995 | 6,059,829 |
The Progressive Corp. | 181,542 | 6,014,486 |
The Travelers Cos., Inc. | 96,947 | 10,944,347 |
Torchmark Corp. | 39,097 | 2,268,017 |
Unum Group | 78,214 | 2,710,115 |
Validus Holdings Ltd. | 25,509 | 1,130,049 |
W. R. Berkley Corp. | 32,225 | 1,799,122 |
White Mountains Insurance Group Ltd. | 1,813 | 1,432,270 |
Willis Group Holdings plc | 56,600 | 2,524,926 |
XL Group plc | 93,067 | 3,543,991 |
199,138,282 | ||
Materials 3.2% | ||
Air Products & Chemicals, Inc. | 61,078 | 8,488,620 |
Airgas, Inc. | 21,451 | 2,062,728 |
Albemarle Corp. | 37,439 | 2,003,735 |
Alcoa, Inc. | 407,520 | 3,639,154 |
AptarGroup, Inc. | 22,500 | 1,655,100 |
Ashland, Inc. | 20,300 | 2,227,316 |
Avery Dennison Corp. | 31,060 | 2,017,968 |
Axalta Coating Systems Ltd. * | 41,600 | 1,149,408 |
Ball Corp. | 40,576 | 2,779,456 |
Bemis Co., Inc. | 35,049 | 1,604,543 |
Berry Plastics Group, Inc. * | 36,100 | 1,209,350 |
Celanese Corp., Series A | 49,443 | 3,512,925 |
CF Industries Holdings, Inc. | 74,560 | 3,785,411 |
Crown Holdings, Inc. * | 39,776 | 2,109,719 |
E.I. du Pont de Nemours & Co. | 282,217 | 17,892,558 |
Eagle Materials, Inc. | 15,200 | 1,003,656 |
Eastman Chemical Co. | 45,762 | 3,302,644 |
Ecolab, Inc. | 83,128 | 10,004,455 |
FMC Corp. | 43,504 | 1,771,048 |
Freeport-McMoRan, Inc. | 331,157 | 3,897,718 |
Graphic Packaging Holding Co. | 104,500 | 1,479,720 |
Huntsman Corp. | 64,700 | 852,099 |
International Flavors & Fragrances, Inc. | 24,408 | 2,832,792 |
International Paper Co. | 135,207 | 5,771,987 |
LyondellBasell Industries N.V., Class A | 116,400 | 10,814,724 |
Martin Marietta Materials, Inc. | 21,449 | 3,327,812 |
Monsanto Co. | 145,834 | 13,594,645 |
NewMarket Corp. | 3,600 | 1,417,464 |
Newmont Mining Corp. | 162,928 | 3,170,579 |
Nucor Corp. | 99,976 | 4,228,985 |
Owens-Illinois, Inc. * | 55,877 | 1,204,149 |
Packaging Corp. of America | 29,030 | 1,987,104 |
Platform Specialty Products Corp. * | 37,800 | 394,632 |
PolyOne Corp. | 30,900 | 1,033,296 |
Security | Number of Shares | Value ($) |
PPG Industries, Inc. | 84,812 | 8,842,499 |
Praxair, Inc. | 89,328 | 9,923,448 |
Reliance Steel & Aluminum Co. | 25,122 | 1,506,315 |
Royal Gold, Inc. | 21,800 | 1,042,912 |
RPM International, Inc. | 44,600 | 2,038,666 |
Sealed Air Corp. | 65,302 | 3,207,634 |
Sigma-Aldrich Corp. | 36,508 | 5,100,898 |
Silgan Holdings, Inc. | 10,200 | 518,874 |
Sonoco Products Co. | 33,970 | 1,450,179 |
Steel Dynamics, Inc. | 74,400 | 1,374,168 |
The Chemours Co. | 56,443 | 391,150 |
The Dow Chemical Co. | 361,056 | 18,655,764 |
The Mosaic Co. | 106,995 | 3,615,361 |
The Scotts Miracle-Gro Co., Class A | 14,668 | 970,435 |
The Sherwin-Williams Co. | 25,090 | 6,694,765 |
The Valspar Corp. | 24,346 | 1,970,809 |
Vulcan Materials Co. | 40,825 | 3,942,878 |
W.R. Grace & Co. * | 21,500 | 2,156,450 |
Westlake Chemical Corp. | 14,000 | 843,780 |
WestRock Co. | 84,842 | 4,561,106 |
207,035,591 | ||
Media 3.4% | ||
AMC Networks, Inc., Class A * | 19,500 | 1,440,855 |
Cablevision Systems Corp., Class A | 75,110 | 2,447,835 |
CBS Corp., Class B - Non Voting Shares | 142,705 | 6,638,637 |
Charter Communications, Inc., Class A *(b) | 23,900 | 4,563,466 |
Cinemark Holdings, Inc. | 34,600 | 1,226,224 |
Clear Channel Outdoor Holdings, Inc., Class A * | 14,500 | 108,460 |
Comcast Corp., Class A | 781,623 | 48,945,232 |
Discovery Communications, Inc., Class A * | 47,200 | 1,389,568 |
Discovery Communications, Inc., Class C * | 74,700 | 2,055,744 |
DISH Network Corp., Class A * | 67,372 | 4,242,415 |
John Wiley & Sons, Inc., Class A | 15,480 | 810,068 |
Liberty Broadband Corp., Class C * | 20,700 | 1,113,039 |
Liberty Global plc, Class A * | 79,241 | 3,527,809 |
Liberty Global plc, Series C * | 193,772 | 8,262,438 |
Liberty Media Corp., Class A * | 30,446 | 1,240,979 |
Liberty Media Corp., Class C * | 62,700 | 2,454,705 |
Lions Gate Entertainment Corp. | 26,400 | 1,028,808 |
Live Nation Entertainment, Inc. * | 45,500 | 1,241,240 |
MSG Networks, Inc., Class A * | 20,800 | 426,816 |
News Corp., Class A | 118,782 | 1,829,243 |
News Corp., Class B | 31,600 | 489,168 |
Omnicom Group, Inc. | 77,888 | 5,835,369 |
Scripps Networks Interactive, Inc., Class A | 30,900 | 1,856,472 |
Sirius XM Holdings, Inc. * | 688,800 | 2,810,304 |
TEGNA, Inc. | 73,854 | 1,997,012 |
The Interpublic Group of Cos., Inc. | 127,164 | 2,915,871 |
The Madison Square Garden Co., Class A * | 6,933 | 1,237,541 |
The Walt Disney Co. | 487,560 | 55,455,075 |
Time Warner Cable, Inc. | 87,736 | 16,617,198 |
Time Warner, Inc. | 255,280 | 19,232,795 |
Security | Number of Shares | Value ($) |
Twenty-First Century Fox, Inc., Class A | 523,828 | 16,076,281 |
Viacom, Inc., Class B | 106,546 | 5,253,783 |
224,770,450 | ||
Pharmaceuticals, Biotechnology & Life Sciences 9.3% | ||
AbbVie, Inc. | 519,726 | 30,949,683 |
ACADIA Pharmaceuticals, Inc. * | 24,700 | 860,054 |
Agilent Technologies, Inc. | 107,031 | 4,041,491 |
Agios Pharmaceuticals, Inc. * | 8,400 | 612,024 |
Akorn, Inc. * | 23,300 | 623,042 |
Alexion Pharmaceuticals, Inc. * | 70,304 | 12,373,504 |
Alkermes plc * | 44,700 | 3,214,824 |
Allergan plc * | 123,677 | 38,150,644 |
Alnylam Pharmaceuticals, Inc. * | 22,100 | 1,899,495 |
Amgen, Inc. | 238,802 | 37,773,700 |
Baxalta, Inc. | 170,825 | 5,886,630 |
Bio-Rad Laboratories, Inc., Class A * | 6,900 | 962,412 |
Bio-Techne Corp. | 12,563 | 1,108,057 |
Biogen, Inc. * | 70,155 | 20,380,729 |
BioMarin Pharmaceutical, Inc. * | 49,600 | 5,805,184 |
Bristol-Myers Squibb Co. | 519,939 | 34,289,977 |
Celgene Corp. * | 248,040 | 30,436,988 |
Cepheid * | 21,800 | 728,120 |
Charles River Laboratories International, Inc. * | 14,400 | 939,456 |
Eli Lilly & Co. | 305,271 | 24,900,955 |
Endo International plc * | 63,428 | 3,805,046 |
Gilead Sciences, Inc. | 459,344 | 49,668,867 |
Illumina, Inc. * | 45,900 | 6,576,552 |
Incyte Corp. * | 51,800 | 6,088,054 |
Intercept Pharmaceuticals, Inc. * | 6,100 | 958,920 |
Intrexon Corp. * | 15,000 | 504,000 |
Isis Pharmaceuticals, Inc. * | 37,300 | 1,795,995 |
Jazz Pharmaceuticals plc * | 19,200 | 2,635,776 |
Johnson & Johnson | 869,187 | 87,813,963 |
Mallinckrodt plc * | 35,320 | 2,319,464 |
Medivation, Inc. * | 48,600 | 2,044,116 |
Merck & Co., Inc. | 884,118 | 48,325,890 |
Mettler-Toledo International, Inc. * | 8,800 | 2,736,712 |
Mylan N.V. * | 127,600 | 5,625,884 |
OPKO Health, Inc. *(b) | 101,700 | 961,065 |
Pacira Pharmaceuticals, Inc. * | 11,300 | 564,435 |
PAREXEL International Corp. * | 17,300 | 1,091,976 |
PerkinElmer, Inc. | 38,500 | 1,988,140 |
Perrigo Co., plc | 45,400 | 7,161,396 |
Pfizer, Inc. | 1,936,551 | 65,494,155 |
Puma Biotechnology, Inc. * | 6,200 | 511,004 |
Quintiles Transnational Holdings, Inc. * | 29,500 | 1,877,675 |
Regeneron Pharmaceuticals, Inc. * | 24,400 | 13,600,316 |
Seattle Genetics, Inc. * | 33,600 | 1,394,064 |
Thermo Fisher Scientific, Inc. | 123,798 | 16,190,302 |
United Therapeutics Corp. * | 14,100 | 2,067,483 |
Vertex Pharmaceuticals, Inc. * | 77,612 | 9,681,321 |
VWR Corp. * | 12,900 | 354,879 |
Waters Corp. * | 25,000 | 3,195,000 |
Zoetis, Inc. | 144,700 | 6,223,547 |
609,192,966 |
Security | Number of Shares | Value ($) |
Real Estate 3.7% | ||
Alexandria Real Estate Equities, Inc. | 24,500 | 2,198,630 |
American Campus Communities, Inc. | 31,200 | 1,265,784 |
American Capital Agency Corp. | 108,300 | 1,930,989 |
American Homes 4 Rent, Class A | 44,000 | 726,000 |
American Tower Corp. | 132,689 | 13,564,796 |
Annaly Capital Management, Inc. | 304,600 | 3,030,770 |
Apartment Investment & Management Co., Class A | 49,418 | 1,936,691 |
AvalonBay Communities, Inc. | 41,849 | 7,316,461 |
BioMed Realty Trust, Inc. | 58,600 | 1,371,826 |
Boston Properties, Inc. | 47,905 | 6,028,844 |
Brixmor Property Group, Inc. | 53,700 | 1,375,794 |
Camden Property Trust | 26,864 | 1,982,295 |
CBL & Associates Properties, Inc. | 53,200 | 775,656 |
CBRE Group, Inc., Class A * | 84,537 | 3,151,539 |
Chimera Investment Corp. | 66,080 | 930,406 |
Corrections Corp. of America | 38,004 | 1,083,114 |
Crown Castle International Corp. | 104,627 | 8,941,423 |
CubeSmart | 50,100 | 1,393,782 |
DCT Industrial Trust, Inc. | 27,600 | 1,024,512 |
DDR Corp. | 91,800 | 1,542,240 |
Digital Realty Trust, Inc. | 41,400 | 3,061,944 |
Douglas Emmett, Inc. | 47,600 | 1,454,180 |
Duke Realty Corp. | 104,537 | 2,163,916 |
EPR Properties | 17,000 | 965,770 |
Equinix, Inc. | 17,780 | 5,274,970 |
Equity Commonwealth * | 40,300 | 1,157,013 |
Equity LifeStyle Properties, Inc. | 27,800 | 1,681,344 |
Equity One, Inc. | 20,200 | 536,916 |
Equity Residential | 115,272 | 8,912,831 |
Essex Property Trust, Inc. | 20,929 | 4,613,589 |
Extra Space Storage, Inc. | 37,100 | 2,939,804 |
Federal Realty Investment Trust | 21,596 | 3,098,810 |
Forest City Enterprises, Inc., Class A * | 61,800 | 1,365,780 |
Gaming & Leisure Properties, Inc. | 32,000 | 933,440 |
General Growth Properties, Inc. | 186,400 | 5,396,280 |
HCP, Inc. | 144,480 | 5,374,656 |
Healthcare Trust of America, Inc., Class A | 36,800 | 968,208 |
Highwoods Properties, Inc. | 31,600 | 1,373,020 |
Hospitality Properties Trust | 52,081 | 1,397,854 |
Host Hotels & Resorts, Inc. | 240,139 | 4,161,609 |
Iron Mountain, Inc. | 61,866 | 1,895,574 |
Jones Lang LaSalle, Inc. | 14,800 | 2,467,308 |
Kilroy Realty Corp. | 27,700 | 1,823,768 |
Kimco Realty Corp. | 126,531 | 3,387,235 |
Lamar Advertising Co., Class A | 26,170 | 1,476,773 |
LaSalle Hotel Properties | 34,000 | 999,940 |
Liberty Property Trust | 46,304 | 1,575,262 |
Mid-America Apartment Communities, Inc. | 23,900 | 2,036,041 |
National Retail Properties, Inc. | 43,000 | 1,634,000 |
NorthStar Realty Finance Corp. | 108,050 | 1,297,681 |
Omega Healthcare Investors, Inc. | 51,900 | 1,791,588 |
Outfront Media, Inc. | 42,500 | 1,003,425 |
Pebblebrook Hotel Trust | 22,300 | 762,214 |
Plum Creek Timber Co., Inc. | 54,798 | 2,232,471 |
Security | Number of Shares | Value ($) |
Post Properties, Inc. | 17,000 | 1,015,580 |
Prologis, Inc. | 162,080 | 6,925,678 |
Public Storage | 45,509 | 10,442,495 |
Rayonier, Inc. | 41,734 | 945,275 |
Realogy Holdings Corp. * | 43,650 | 1,706,715 |
Realty Income Corp. | 70,800 | 3,501,768 |
Regency Centers Corp. | 30,582 | 2,078,353 |
Retail Properties of America, Inc., Class A | 70,000 | 1,047,900 |
RLJ Lodging Trust | 44,500 | 1,116,505 |
Senior Housing Properties Trust | 69,500 | 1,055,705 |
Simon Property Group, Inc. | 97,350 | 19,612,131 |
SL Green Realty Corp. | 31,851 | 3,778,166 |
Sovran Self Storage, Inc. | 10,100 | 1,008,687 |
Spirit Realty Capital, Inc. | 146,700 | 1,493,406 |
Starwood Property Trust, Inc. | 77,200 | 1,550,948 |
Strategic Hotels & Resorts, Inc. * | 84,100 | 1,185,810 |
Sun Communities, Inc. | 15,500 | 1,038,810 |
Sunstone Hotel Investors, Inc. | 64,100 | 926,886 |
Tanger Factory Outlet Centers, Inc. | 30,900 | 1,079,955 |
Taubman Centers, Inc. | 19,800 | 1,524,204 |
The Howard Hughes Corp. * | 11,500 | 1,421,170 |
The Macerich Co. | 40,745 | 3,452,731 |
Two Harbors Investment Corp. | 117,200 | 991,512 |
UDR, Inc. | 85,262 | 2,938,129 |
Ventas, Inc. | 102,229 | 5,491,742 |
VEREIT, Inc. | 288,200 | 2,380,532 |
Vornado Realty Trust | 54,334 | 5,463,284 |
Weingarten Realty Investors | 32,102 | 1,147,968 |
Welltower, Inc. | 111,421 | 7,227,880 |
Weyerhaeuser Co. | 166,850 | 4,893,711 |
WP Carey, Inc. | 29,500 | 1,869,415 |
WP GLIMCHER, Inc. | 59,200 | 687,904 |
243,787,721 | ||
Retailing 5.2% | ||
Advance Auto Parts, Inc. | 22,622 | 4,488,883 |
Amazon.com, Inc. * | 120,241 | 75,258,842 |
AutoNation, Inc. * | 26,166 | 1,653,430 |
AutoZone, Inc. * | 9,533 | 7,477,780 |
Bed Bath & Beyond, Inc. * | 51,220 | 3,054,249 |
Best Buy Co., Inc. | 95,526 | 3,346,276 |
Burlington Stores, Inc. * | 26,100 | 1,254,888 |
Cabela's, Inc. * | 15,100 | 591,467 |
CarMax, Inc. * | 66,800 | 3,941,868 |
CST Brands, Inc. | 25,900 | 930,587 |
Dick's Sporting Goods, Inc. | 26,700 | 1,189,485 |
Dillard's, Inc., Class A | 9,100 | 814,268 |
Dollar General Corp. | 93,400 | 6,329,718 |
Dollar Tree, Inc. * | 75,018 | 4,912,929 |
Expedia, Inc. | 32,204 | 4,389,405 |
Foot Locker, Inc. | 45,109 | 3,056,135 |
GameStop Corp., Class A (b) | 31,900 | 1,469,633 |
Genuine Parts Co. | 49,630 | 4,504,419 |
GNC Holdings, Inc., Class A | 26,800 | 797,300 |
Groupon, Inc. * | 120,700 | 447,797 |
HSN, Inc. | 9,400 | 581,390 |
Kohl's Corp. | 62,565 | 2,885,498 |
L Brands, Inc. | 78,823 | 7,565,432 |
Liberty Interactive Corp., QVC Group, Class A * | 136,208 | 3,728,013 |
Security | Number of Shares | Value ($) |
Liberty Ventures, Series A * | 44,681 | 1,946,751 |
LKQ Corp. * | 99,600 | 2,949,156 |
Lowe's Cos., Inc. | 288,936 | 21,332,145 |
Macy's, Inc. | 102,476 | 5,224,226 |
Murphy USA, Inc. * | 14,300 | 877,591 |
Netflix, Inc. * | 134,800 | 14,609,624 |
Nordstrom, Inc. | 41,600 | 2,712,736 |
O'Reilly Automotive, Inc. * | 31,566 | 8,720,423 |
Office Depot, Inc. * | 154,900 | 1,180,338 |
Penske Automotive Group, Inc. | 15,300 | 747,252 |
Restoration Hardware Holdings, Inc. * | 11,800 | 1,216,462 |
Ross Stores, Inc. | 127,624 | 6,455,222 |
Sally Beauty Holdings, Inc. * | 50,000 | 1,175,500 |
Sears Holdings Corp. *(b) | 13,094 | 306,007 |
Signet Jewelers Ltd. | 24,300 | 3,667,842 |
Staples, Inc. | 197,970 | 2,571,630 |
Target Corp. | 199,562 | 15,402,195 |
The Gap, Inc. | 72,255 | 1,966,781 |
The Home Depot, Inc. | 402,135 | 49,719,971 |
The Michaels Cos., Inc. * | 24,100 | 563,458 |
The Priceline Group, Inc. * | 15,846 | 23,043,887 |
The TJX Cos., Inc. | 213,190 | 15,603,376 |
Tiffany & Co. | 33,573 | 2,767,758 |
Tractor Supply Co. | 41,400 | 3,824,946 |
TripAdvisor, Inc. * | 33,200 | 2,781,496 |
Ulta Salon, Cosmetics & Fragrance, Inc. * | 19,900 | 3,461,804 |
Urban Outfitters, Inc. * | 27,996 | 800,686 |
Williams-Sonoma, Inc. | 25,300 | 1,865,875 |
342,164,830 | ||
Semiconductors & Semiconductor Equipment 2.3% | ||
Altera Corp. | 92,269 | 4,848,736 |
Analog Devices, Inc. | 101,274 | 6,088,593 |
Applied Materials, Inc. | 385,589 | 6,466,327 |
Atmel Corp. | 138,500 | 1,052,600 |
Avago Technologies Ltd. | 82,400 | 10,145,912 |
Broadcom Corp., Class A | 176,225 | 9,057,965 |
Cavium, Inc. * | 17,300 | 1,227,435 |
Cree, Inc. * | 27,100 | 682,649 |
First Solar, Inc. * | 26,700 | 1,523,769 |
Freescale Semiconductor Ltd. * | 31,900 | 1,068,331 |
Intel Corp. | 1,493,680 | 50,576,005 |
KLA-Tencor Corp. | 47,638 | 3,197,463 |
Lam Research Corp. | 48,319 | 3,700,752 |
Linear Technology Corp. | 77,466 | 3,441,040 |
Marvell Technology Group Ltd. | 135,162 | 1,109,680 |
Maxim Integrated Products, Inc. | 93,400 | 3,827,532 |
Microchip Technology, Inc. | 65,366 | 3,156,524 |
Micron Technology, Inc. * | 333,400 | 5,521,104 |
NVIDIA Corp. | 156,999 | 4,454,062 |
ON Semiconductor Corp. * | 126,800 | 1,394,800 |
Qorvo, Inc. * | 46,400 | 2,038,352 |
Skyworks Solutions, Inc. | 59,900 | 4,626,676 |
SunEdison, Inc. * | 90,500 | 660,650 |
Teradyne, Inc. | 62,600 | 1,221,952 |
Texas Instruments, Inc. | 320,375 | 18,171,670 |
Xilinx, Inc. | 78,605 | 3,743,170 |
153,003,749 |
Security | Number of Shares | Value ($) |
Software & Services 11.8% | ||
Accenture plc, Class A | 195,100 | 20,914,720 |
Activision Blizzard, Inc. | 157,838 | 5,486,449 |
Adobe Systems, Inc. * | 155,313 | 13,770,051 |
Akamai Technologies, Inc. * | 55,509 | 3,376,057 |
Alliance Data Systems Corp. * | 19,371 | 5,759,192 |
Alphabet, Inc., Class A * | 89,988 | 66,356,251 |
Alphabet, Inc., Class C * | 93,732 | 66,625,643 |
Amdocs Ltd. | 51,600 | 3,073,812 |
ANSYS, Inc. * | 27,400 | 2,611,494 |
Autodesk, Inc. * | 69,872 | 3,856,236 |
Automatic Data Processing, Inc. | 143,151 | 12,452,705 |
Booz Allen Hamilton Holding Corp. | 27,900 | 821,934 |
Broadridge Financial Solutions, Inc. | 36,400 | 2,168,712 |
CA, Inc. | 98,881 | 2,739,993 |
Cadence Design Systems, Inc. * | 92,587 | 2,057,283 |
CDK Global, Inc. | 51,400 | 2,559,206 |
Citrix Systems, Inc. * | 52,400 | 4,302,040 |
Cognizant Technology Solutions Corp., Class A * | 191,332 | 13,031,623 |
Computer Sciences Corp. | 42,331 | 2,818,821 |
CoStar Group, Inc. * | 10,600 | 2,152,542 |
DST Systems, Inc. | 10,980 | 1,341,207 |
eBay, Inc. * | 348,470 | 9,722,313 |
Electronic Arts, Inc. * | 98,381 | 7,090,319 |
Facebook, Inc., Class A * | 708,500 | 72,245,745 |
Fidelity National Information Services, Inc. | 89,008 | 6,490,463 |
FireEye, Inc. * | 44,400 | 1,161,060 |
Fiserv, Inc. * | 76,278 | 7,361,590 |
FleetCor Technologies, Inc. * | 24,100 | 3,491,126 |
Fortinet, Inc. * | 44,600 | 1,532,456 |
Gartner, Inc. * | 26,400 | 2,393,688 |
Genpact Ltd. * | 44,550 | 1,103,949 |
Global Payments, Inc. | 19,738 | 2,692,461 |
Guidewire Software, Inc. * | 21,100 | 1,228,653 |
IAC/InterActiveCorp | 25,730 | 1,724,167 |
International Business Machines Corp. | 282,040 | 39,508,163 |
Intuit, Inc. | 86,444 | 8,422,239 |
Jack Henry & Associates, Inc. | 24,200 | 1,871,628 |
LinkedIn Corp., Class A * | 35,900 | 8,647,233 |
Manhattan Associates, Inc. * | 24,200 | 1,762,970 |
MasterCard, Inc., Class A | 312,010 | 30,885,870 |
MAXIMUS, Inc. | 21,300 | 1,452,660 |
Microsoft Corp. | 2,507,338 | 131,986,272 |
NetSuite, Inc. * | 9,800 | 833,686 |
Nuance Communications, Inc. * | 79,800 | 1,354,206 |
Oracle Corp. | 1,018,410 | 39,555,044 |
Pandora Media, Inc. * | 69,100 | 795,341 |
Paychex, Inc. | 102,528 | 5,288,394 |
PayPal Holdings, Inc. * | 348,470 | 12,548,405 |
PTC, Inc. * | 39,700 | 1,406,968 |
Rackspace Hosting, Inc. * | 35,200 | 909,920 |
Red Hat, Inc. * | 57,283 | 4,531,658 |
Sabre Corp. | 40,700 | 1,193,324 |
salesforce.com, Inc. * | 194,940 | 15,148,787 |
ServiceNow, Inc. * | 45,800 | 3,739,570 |
SolarWinds, Inc. * | 20,600 | 1,195,418 |
Solera Holdings, Inc. | 18,400 | 1,005,744 |
Splunk, Inc. * | 37,800 | 2,122,848 |
Security | Number of Shares | Value ($) |
SS&C Technologies Holdings, Inc. | 24,500 | 1,816,675 |
Symantec Corp. | 213,489 | 4,397,873 |
Synopsys, Inc. * | 48,700 | 2,434,026 |
Syntel, Inc. * | 11,300 | 531,552 |
Tableau Software, Inc., Class A * | 17,200 | 1,444,112 |
Teradata Corp. * | 48,044 | 1,350,517 |
The Ultimate Software Group, Inc. * | 8,900 | 1,818,715 |
The Western Union Co. | 163,440 | 3,146,220 |
Total System Services, Inc. | 55,100 | 2,889,995 |
Twitter, Inc. * | 181,600 | 5,168,336 |
Tyler Technologies, Inc. * | 11,200 | 1,908,032 |
Vantiv, Inc., Class A * | 45,300 | 2,271,795 |
VeriFone Systems, Inc. * | 35,800 | 1,079,012 |
Verint Systems, Inc. * | 21,200 | 1,008,696 |
VeriSign, Inc. * | 29,605 | 2,386,163 |
Visa, Inc., Class A | 611,200 | 47,416,896 |
VMware, Inc., Class A * | 24,100 | 1,449,615 |
WEX, Inc. * | 13,100 | 1,177,821 |
Workday, Inc., Class A * | 34,300 | 2,708,671 |
Xerox Corp. | 331,345 | 3,111,330 |
Yahoo! Inc. * | 274,979 | 9,794,752 |
Yelp, Inc. * | 18,400 | 409,400 |
Zillow Group, Inc., Class A *(b) | 13,200 | 406,692 |
Zillow Group, Inc., Class C *(b) | 38,200 | 1,057,758 |
773,864,963 | ||
Technology Hardware & Equipment 6.1% | ||
3D Systems Corp. *(b) | 30,149 | 303,299 |
Amphenol Corp., Class A | 98,240 | 5,326,573 |
Apple, Inc. | 1,788,174 | 213,686,793 |
Arista Networks, Inc. *(b) | 10,800 | 696,708 |
ARRIS Group, Inc. * | 36,900 | 1,042,794 |
Arrow Electronics, Inc. * | 28,800 | 1,583,712 |
Avnet, Inc. | 42,546 | 1,932,865 |
Belden, Inc. | 13,900 | 890,017 |
Brocade Communications Systems, Inc. | 127,300 | 1,326,466 |
CDW Corp. | 42,900 | 1,917,201 |
Cisco Systems, Inc. | 1,599,015 | 46,131,583 |
Cognex Corp. | 26,700 | 1,003,920 |
CommScope Holding Co., Inc. * | 37,600 | 1,219,368 |
Corning, Inc. | 377,663 | 7,024,532 |
Dolby Laboratories, Inc., Class A | 17,400 | 603,258 |
EchoStar Corp., Class A * | 13,254 | 594,177 |
EMC Corp. | 610,424 | 16,005,317 |
F5 Networks, Inc. * | 23,200 | 2,556,640 |
FEI Co. | 12,500 | 902,375 |
FLIR Systems, Inc. | 38,200 | 1,018,794 |
Harris Corp. | 38,807 | 3,070,798 |
Hewlett-Packard Co. | 568,768 | 15,333,985 |
Ingram Micro, Inc., Class A | 53,851 | 1,603,683 |
IPG Photonics Corp. * | 9,400 | 776,628 |
Jabil Circuit, Inc. | 62,300 | 1,431,654 |
Juniper Networks, Inc. | 110,994 | 3,484,102 |
Keysight Technologies, Inc. * | 54,100 | 1,789,628 |
Motorola Solutions, Inc. | 49,912 | 3,492,342 |
National Instruments Corp. | 31,200 | 950,664 |
NCR Corp. * | 53,544 | 1,424,270 |
NetApp, Inc. | 99,600 | 3,386,400 |
Palo Alto Networks, Inc. * | 22,300 | 3,590,300 |
QUALCOMM, Inc. | 492,478 | 29,263,043 |
Security | Number of Shares | Value ($) |
SanDisk Corp. | 64,958 | 5,001,766 |
Seagate Technology plc | 92,137 | 3,506,734 |
TE Connectivity Ltd. | 126,600 | 8,158,104 |
Trimble Navigation Ltd. * | 84,000 | 1,911,000 |
Western Digital Corp. | 71,412 | 4,771,750 |
Zebra Technologies Corp., Class A * | 16,700 | 1,284,230 |
399,997,473 | ||
Telecommunication Services 2.2% | ||
AT&T, Inc. | 1,926,241 | 64,548,336 |
CenturyLink, Inc. | 182,811 | 5,157,098 |
Frontier Communications Corp. | 338,406 | 1,739,407 |
Level 3 Communications, Inc. * | 91,920 | 4,683,324 |
SBA Communications Corp., Class A * | 41,300 | 4,915,526 |
Sprint Corp. * | 278,164 | 1,315,716 |
T-Mobile US, Inc. * | 82,500 | 3,125,925 |
Verizon Communications, Inc. | 1,272,057 | 59,634,032 |
Windstream Holdings, Inc. (b) | 33,024 | 214,986 |
145,334,350 | ||
Transportation 2.2% | ||
Alaska Air Group, Inc. | 38,800 | 2,958,500 |
AMERCO | 2,000 | 812,620 |
American Airlines Group, Inc. | 207,800 | 9,604,516 |
Avis Budget Group, Inc. * | 34,800 | 1,737,912 |
C.H. Robinson Worldwide, Inc. | 43,348 | 3,007,484 |
CSX Corp. | 307,626 | 8,302,826 |
Delta Air Lines, Inc. | 250,600 | 12,740,504 |
Expeditors International of Washington, Inc. | 59,698 | 2,972,363 |
FedEx Corp. | 81,728 | 12,753,654 |
Genesee & Wyoming, Inc., Class A * | 14,700 | 986,370 |
Hertz Global Holdings, Inc. * | 125,000 | 2,437,500 |
JB Hunt Transport Services, Inc. | 30,591 | 2,336,235 |
JetBlue Airways Corp. * | 99,400 | 2,469,096 |
Kansas City Southern | 33,100 | 2,739,356 |
Kirby Corp. * | 18,900 | 1,233,981 |
Norfolk Southern Corp. | 96,586 | 7,729,778 |
Old Dominion Freight Line, Inc. * | 19,400 | 1,201,636 |
Ryder System, Inc. | 16,964 | 1,217,676 |
Southwest Airlines Co. | 208,488 | 9,650,910 |
Spirit Airlines, Inc. * | 23,400 | 868,608 |
Swift Transportation Co. * | 23,800 | 371,994 |
Union Pacific Corp. | 271,224 | 24,233,864 |
United Continental Holdings, Inc. * | 120,282 | 7,254,207 |
United Parcel Service, Inc., Class B | 216,935 | 22,348,644 |
141,970,234 | ||
Utilities 3.0% | ||
AES Corp. | 224,702 | 2,460,487 |
AGL Resources, Inc. | 38,087 | 2,380,438 |
Alliant Energy Corp. | 37,400 | 2,207,348 |
Ameren Corp. | 78,585 | 3,432,593 |
American Electric Power Co., Inc. | 153,071 | 8,671,472 |
American Water Works Co., Inc. | 59,700 | 3,424,392 |
Aqua America, Inc. | 58,917 | 1,685,026 |
Atmos Energy Corp. | 30,718 | 1,935,234 |
Calpine Corp. * | 112,000 | 1,737,120 |
CenterPoint Energy, Inc. | 133,911 | 2,484,049 |
Security | Number of Shares | Value ($) |
Cleco Corp. | 18,800 | 996,400 |
CMS Energy Corp. | 85,733 | 3,092,389 |
Consolidated Edison, Inc. | 89,906 | 5,911,320 |
Dominion Resources, Inc. | 186,908 | 13,350,838 |
DTE Energy Co. | 55,897 | 4,560,636 |
Duke Energy Corp. | 220,995 | 15,794,513 |
Dynegy, Inc. * | 33,000 | 641,190 |
Edison International | 99,454 | 6,018,956 |
Entergy Corp. | 57,362 | 3,909,794 |
Eversource Energy | 101,312 | 5,160,833 |
Exelon Corp. | 264,319 | 7,379,786 |
FirstEnergy Corp. | 136,391 | 4,255,399 |
Great Plains Energy, Inc. | 52,000 | 1,430,000 |
Hawaiian Electric Industries, Inc. | 32,000 | 936,320 |
IDACORP, Inc. | 12,700 | 848,995 |
ITC Holdings Corp. | 52,200 | 1,707,984 |
MDU Resources Group, Inc. | 64,217 | 1,211,133 |
National Fuel Gas Co. | 28,047 | 1,473,309 |
NextEra Energy, Inc. | 142,308 | 14,609,339 |
NiSource, Inc. | 95,880 | 1,837,061 |
NRG Energy, Inc. | 108,030 | 1,392,507 |
NRG Yield, Inc., Class A | 10,200 | 140,046 |
NRG Yield, Inc., Class C (b) | 10,200 | 147,288 |
OGE Energy Corp. | 66,760 | 1,903,328 |
Pepco Holdings, Inc. | 76,274 | 2,031,177 |
PG&E Corp. | 149,337 | 7,974,596 |
Piedmont Natural Gas Co., Inc. | 25,300 | 1,449,943 |
Pinnacle West Capital Corp. | 37,087 | 2,355,395 |
PPL Corp. | 211,761 | 7,284,578 |
Public Service Enterprise Group, Inc. | 156,372 | 6,456,600 |
Questar Corp. | 60,420 | 1,247,673 |
SCANA Corp. | 44,531 | 2,637,126 |
Sempra Energy | 73,678 | 7,545,364 |
TECO Energy, Inc. | 73,617 | 1,987,659 |
The Southern Co. | 278,918 | 12,579,202 |
UGI Corp. | 58,872 | 2,158,836 |
Vectren Corp. | 22,800 | 1,036,716 |
WEC Energy Group, Inc. | 101,777 | 5,247,622 |
Westar Energy, Inc. | 39,800 | 1,580,060 |
Xcel Energy, Inc. | 160,409 | 5,715,373 |
198,415,443 | ||
Total Common Stock | ||
(Cost $2,065,086,022) | 6,513,773,763 | |
Other Investment Companies 0.7% of net assets | ||
Money Market Fund 0.4% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (c) | 24,392,194 | 24,392,194 |
Security | Number of Shares | Value ($) |
Securities Lending Collateral 0.3% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (c) | 21,026,600 | 21,026,600 |
Total Other Investment Companies | ||
(Cost $45,418,794) | 45,418,794 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $20,468,476. |
(c) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 225 | 23,329,125 | 1,436,202 |
Holdings by Category | Cost ($) | Value ($) | |
99.4% | Common Stock | 1,996,193,500 | 2,590,361,425 |
0.0% | Rights | 320,914 | 320,914 |
0.0% | Warrants | — | — |
6.4% | Other Investment Company | 166,858,920 | 166,858,920 |
0.4% | Short-Term Investment | 10,766,144 | 10,766,144 |
106.2% | Total Investments | 2,174,139,478 | 2,768,307,403 |
(6.2%) | Other Assets and Liabilities, Net | (161,052,176) | |
100.0% | Net Assets | 2,607,255,227 |
Security | Number of Shares | Value ($) |
Common Stock 99.4% of net assets | ||
Automobiles & Components 1.2% | ||
American Axle & Manufacturing Holdings, Inc. * | 113,100 | 2,506,296 |
Cooper Tire & Rubber Co. | 84,899 | 3,547,929 |
Cooper-Standard Holding, Inc. * | 20,100 | 1,307,304 |
Dana Holding Corp. | 245,429 | 4,123,207 |
Dorman Products, Inc. * | 40,100 | 1,871,868 |
Drew Industries, Inc. | 37,000 | 2,213,710 |
Federal-Mogul Holdings Corp. * | 44,553 | 345,286 |
Fox Factory Holding Corp. * | 22,700 | 402,925 |
Gentherm, Inc. * | 52,600 | 2,585,816 |
Horizon Global Corp. * | 26,800 | 235,572 |
Metaldyne Performance Group, Inc. | 19,300 | 421,126 |
Modine Manufacturing Co. * | 73,100 | 611,847 |
Motorcar Parts of America, Inc. * | 26,100 | 878,526 |
Remy International, Inc. | 44,000 | 1,297,560 |
Standard Motor Products, Inc. | 28,800 | 1,274,400 |
Stoneridge, Inc. * | 42,600 | 540,594 |
Strattec Security Corp. | 5,100 | 305,082 |
Superior Industries International, Inc. | 37,500 | 738,000 |
Tenneco, Inc. * | 91,428 | 5,173,911 |
Tower International, Inc. * | 30,200 | 829,594 |
Winnebago Industries, Inc. | 43,600 | 915,164 |
32,125,717 |
Security | Number of Shares | Value ($) |
Banks 11.2% | ||
1st Source Corp. | 26,203 | 832,207 |
Access National Corp. | 8,038 | 166,306 |
American National Bankshares, Inc. | 10,700 | 269,640 |
Ameris Bancorp | 47,700 | 1,502,550 |
Ames National Corp. | 15,500 | 387,500 |
Anchor BanCorp Wisconsin, Inc. * | 12,400 | 508,648 |
Arrow Financial Corp. | 14,718 | 406,217 |
Astoria Financial Corp. | 130,200 | 2,077,992 |
Banc of California, Inc. | 53,700 | 700,248 |
BancFirst Corp. | 10,116 | 623,449 |
Banco Latinoamericano de Exportaciones, S.A., Class E | 44,057 | 1,190,861 |
BancorpSouth, Inc. | 143,800 | 3,584,934 |
Bank Mutual Corp. | 71,800 | 519,832 |
Bank of Marin Bancorp | 9,100 | 483,938 |
Bank of the Ozarks, Inc. | 116,159 | 5,810,273 |
BankFinancial Corp. | 28,200 | 347,706 |
Banner Corp. | 31,757 | 1,558,316 |
Bar Harbor Bankshares | 8,070 | 285,274 |
BBCN Bancorp, Inc. | 114,300 | 1,919,097 |
BBX Capital Corp., Class A * | 10,300 | 189,005 |
Bear State Financial, Inc. *(c) | 18,000 | 197,100 |
Beneficial Bancorp, Inc. * | 124,511 | 1,726,968 |
Berkshire Hills Bancorp, Inc. | 48,100 | 1,375,660 |
Blue Hills Bancorp, Inc. | 43,900 | 622,941 |
BNC Bancorp | 39,687 | 890,973 |
BofI Holding, Inc. *(c) | 22,220 | 1,777,822 |
Boston Private Financial Holdings, Inc. | 127,100 | 1,456,566 |
Bridge Bancorp, Inc. | 20,100 | 577,071 |
Brookline Bancorp, Inc. | 105,522 | 1,197,675 |
Bryn Mawr Bank Corp. | 27,200 | 792,336 |
BSB Bancorp, Inc. * | 8,867 | 194,985 |
C1 Financial, Inc. * | 6,700 | 138,623 |
Camden National Corp. | 10,300 | 402,627 |
Capital Bank Financial Corp., Class A | 35,300 | 1,140,190 |
Capital City Bank Group, Inc. | 15,300 | 236,232 |
Capitol Federal Financial, Inc. | 204,357 | 2,652,554 |
Cardinal Financial Corp. | 48,200 | 1,095,586 |
Cascade Bancorp * | 55,003 | 308,567 |
Cathay General Bancorp | 117,426 | 3,675,434 |
CenterState Banks, Inc. | 62,200 | 906,876 |
Central Pacific Financial Corp. | 31,000 | 693,160 |
Century Bancorp, Inc., Class A | 4,700 | 208,915 |
Charter Financial Corp. | 24,859 | 325,653 |
Chemical Financial Corp. | 50,231 | 1,704,338 |
Citizens & Northern Corp. | 20,300 | 402,143 |
City Holding Co. | 22,100 | 1,057,043 |
Clifton Bancorp, Inc. | 38,861 | 566,593 |
CNB Financial Corp. | 20,700 | 384,606 |
CoBiz Financial, Inc. | 60,600 | 755,076 |
Columbia Banking System, Inc. | 87,500 | 2,915,500 |
Community Bank System, Inc. | 64,122 | 2,613,613 |
Community Trust Bancorp, Inc. | 21,780 | 750,757 |
CommunityOne Bancorp * | 13,700 | 177,278 |
ConnectOne Bancorp, Inc. | 46,340 | 827,169 |
CU Bancorp * | 25,400 | 612,648 |
Customers Bancorp, Inc. * | 37,450 | 1,029,875 |
Security | Number of Shares | Value ($) |
CVB Financial Corp. | 155,319 | 2,710,317 |
Dime Community Bancshares, Inc. | 50,600 | 877,910 |
Eagle Bancorp, Inc. * | 45,780 | 2,179,128 |
Enterprise Bancorp, Inc. | 13,914 | 323,083 |
Enterprise Financial Services Corp. | 28,000 | 794,080 |
Essent Group Ltd. * | 84,600 | 2,038,860 |
EverBank Financial Corp. | 146,600 | 2,530,316 |
F.N.B. Corp. | 256,137 | 3,450,165 |
Farmers Capital Bank Corp. * | 9,415 | 255,335 |
FCB Financial Holdings, Inc., Class A * | 40,069 | 1,424,854 |
Federal Agricultural Mortgage Corp., Class C | 15,800 | 463,888 |
Fidelity Southern Corp. | 28,448 | 595,986 |
Financial Institutions, Inc. | 18,500 | 483,220 |
First Bancorp (North Carolina) | 31,600 | 585,548 |
First BanCorp (Puerto Rico) * | 187,700 | 711,383 |
First Bancorp, Inc. | 12,096 | 255,588 |
First Busey Corp. | 34,400 | 717,928 |
First Business Financial Services, Inc. | 11,600 | 285,940 |
First Citizens BancShares, Inc., Class A | 11,541 | 2,956,112 |
First Commonwealth Financial Corp. | 144,929 | 1,331,897 |
First Community Bancshares, Inc. | 24,600 | 473,058 |
First Connecticut Bancorp, Inc. | 23,900 | 415,382 |
First Defiance Financial Corp. | 13,000 | 497,900 |
First Financial Bancorp | 88,789 | 1,711,852 |
First Financial Bankshares, Inc. (c) | 95,062 | 3,161,762 |
First Financial Corp. | 17,700 | 606,579 |
First Interstate BancSystem, Inc., Class A | 28,833 | 817,704 |
First Merchants Corp. | 55,500 | 1,455,765 |
First Midwest Bancorp, Inc. | 121,763 | 2,169,817 |
First NBC Bank Holding Co. * | 21,900 | 814,461 |
FirstMerit Corp. | 251,032 | 4,716,891 |
Flagstar Bancorp, Inc. * | 28,300 | 629,392 |
Flushing Financial Corp. | 47,500 | 999,400 |
Fox Chase Bancorp, Inc. | 19,500 | 341,445 |
Franklin Financial Network, Inc. * | 8,564 | 229,601 |
Fulton Financial Corp. | 261,849 | 3,514,014 |
German American Bancorp, Inc. | 20,700 | 648,531 |
Glacier Bancorp, Inc. | 114,411 | 3,130,285 |
Great Southern Bancorp, Inc. | 16,300 | 787,779 |
Great Western Bancorp, Inc. | 64,217 | 1,814,772 |
Green Bancorp, Inc. * | 12,500 | 153,125 |
Guaranty Bancorp | 20,920 | 344,762 |
Hampton Roads Bankshares, Inc. * | 74,100 | 137,085 |
Hancock Holding Co. | 116,826 | 3,224,398 |
Hanmi Financial Corp. | 45,900 | 1,170,450 |
Heartland Financial USA, Inc. | 24,500 | 902,580 |
Heritage Commerce Corp. | 39,500 | 417,910 |
Heritage Financial Corp. | 45,545 | 838,939 |
Heritage Oaks Bancorp | 27,600 | 243,156 |
Hilltop Holdings, Inc. * | 114,613 | 2,403,435 |
Hingham Institution for Savings | 1,596 | 203,346 |
Home BancShares, Inc. | 85,680 | 3,677,386 |
HomeStreet, Inc. * | 34,122 | 714,173 |
HomeTrust Bancshares, Inc. * | 29,400 | 556,836 |
Security | Number of Shares | Value ($) |
Horizon Bancorp | 15,200 | 396,720 |
IBERIABANK Corp. | 56,575 | 3,430,142 |
Impac Mortgage Holdings, Inc. *(c) | 12,642 | 282,549 |
Independent Bank Corp., Massachusetts | 39,800 | 1,860,252 |
Independent Bank Corp., Michigan | 33,600 | 486,528 |
Independent Bank Group, Inc. | 13,400 | 521,930 |
International Bancshares Corp. | 81,760 | 2,203,432 |
Investors Bancorp, Inc. | 528,352 | 6,609,683 |
Kearny Financial Corp. | 144,832 | 1,730,742 |
Lakeland Bancorp, Inc. | 53,497 | 622,170 |
Lakeland Financial Corp. | 23,200 | 1,042,376 |
LegacyTexas Financial Group, Inc. | 71,900 | 2,063,530 |
LendingTree, Inc. * | 8,700 | 1,055,832 |
Live Oak Bancshares, Inc. | 9,100 | 130,495 |
MainSource Financial Group, Inc. | 33,544 | 725,892 |
MB Financial, Inc. | 113,187 | 3,649,149 |
Mercantile Bank Corp. | 25,300 | 558,118 |
Merchants Bancshares, Inc. | 9,946 | 313,498 |
Meridian Bancorp, Inc. | 74,744 | 1,049,406 |
Meta Financial Group, Inc. | 11,200 | 482,496 |
Metro Bancorp, Inc. | 18,369 | 569,072 |
MGIC Investment Corp. * | 505,545 | 4,752,123 |
MidWestOne Financial Group, Inc. | 11,300 | 346,232 |
National Bank Holdings Corp., Class A | 54,900 | 1,211,094 |
National Bankshares, Inc. (c) | 9,300 | 303,645 |
National Commerce Corp. * | 5,932 | 148,952 |
National Penn Bancshares, Inc. | 198,578 | 2,390,879 |
Nationstar Mortgage Holdings, Inc. *(c) | 55,797 | 740,426 |
NBT Bancorp, Inc. | 62,323 | 1,751,900 |
NewBridge Bancorp | 49,300 | 557,583 |
NMI Holdings, Inc., Class A * | 74,100 | 557,232 |
Northfield Bancorp, Inc. | 78,586 | 1,203,937 |
Northwest Bancshares, Inc. | 150,809 | 2,029,889 |
OceanFirst Financial Corp. | 19,600 | 361,816 |
Ocwen Financial Corp. *(c) | 157,309 | 1,099,590 |
OFG Bancorp | 64,500 | 594,045 |
Old National Bancorp | 182,683 | 2,557,562 |
Old Second Bancorp, Inc. * | 41,624 | 278,881 |
Opus Bank | 15,142 | 564,039 |
Oritani Financial Corp. | 67,950 | 1,081,764 |
Pacific Continental Corp. | 24,700 | 354,198 |
Pacific Premier Bancorp, Inc. * | 32,300 | 689,605 |
Park National Corp. | 18,853 | 1,710,344 |
Park Sterling Corp. | 71,600 | 519,100 |
Peapack-Gladstone Financial Corp. | 28,100 | 635,341 |
Penns Woods Bancorp, Inc. | 7,100 | 316,305 |
PennyMac Financial Services, Inc., Class A * | 18,200 | 301,028 |
People's Utah Bancorp | 6,800 | 111,928 |
Peoples Bancorp, Inc. | 28,000 | 536,480 |
Peoples Financial Services Corp. (c) | 11,100 | 451,992 |
PHH Corp. * | 74,363 | 1,093,136 |
Pinnacle Financial Partners, Inc. | 54,532 | 2,869,474 |
Preferred Bank | 16,100 | 533,071 |
PrivateBancorp, Inc. | 118,776 | 4,968,400 |
Prosperity Bancshares, Inc. | 104,295 | 5,358,677 |
Provident Financial Services, Inc. | 96,151 | 1,953,788 |
Security | Number of Shares | Value ($) |
QCR Holdings, Inc. | 17,862 | 406,896 |
Radian Group, Inc. | 288,440 | 4,173,727 |
Renasant Corp. | 60,666 | 2,100,864 |
Republic Bancorp, Inc., Class A | 16,100 | 409,423 |
S&T Bancorp, Inc. | 52,581 | 1,676,282 |
Sandy Spring Bancorp, Inc. | 37,500 | 1,031,250 |
Seacoast Banking Corp of Florida * | 35,220 | 545,206 |
ServisFirst Bancshares, Inc. | 33,640 | 1,425,663 |
Sierra Bancorp | 15,900 | 257,739 |
Simmons First National Corp., Class A | 44,084 | 2,272,089 |
South State Corp. | 35,763 | 2,771,632 |
Southside Bancshares, Inc. | 36,732 | 988,091 |
Southwest Bancorp, Inc. | 32,600 | 551,266 |
State Bank Financial Corp. | 50,000 | 1,070,000 |
Sterling Bancorp | 180,905 | 2,784,128 |
Stock Yards Bancorp, Inc. | 23,620 | 890,002 |
Stonegate Bank | 14,600 | 455,666 |
Stonegate Mortgage Corp. *(c) | 21,000 | 120,330 |
Suffolk Bancorp | 19,300 | 576,877 |
Sun Bancorp, Inc. * | 12,080 | 241,721 |
Talmer Bancorp, Inc., Class A | 75,499 | 1,269,893 |
Territorial Bancorp, Inc. | 16,800 | 468,384 |
Texas Capital Bancshares, Inc. * | 68,900 | 3,803,280 |
The Bancorp, Inc. * | 52,100 | 375,120 |
The First of Long Island Corp. | 19,500 | 541,515 |
Tompkins Financial Corp. | 23,042 | 1,250,720 |
Towne Bank | 64,799 | 1,390,587 |
TriCo Bancshares | 39,400 | 1,038,584 |
TriState Capital Holdings, Inc. * | 32,400 | 404,676 |
Triumph Bancorp, Inc. * | 22,100 | 368,849 |
TrustCo Bank Corp. | 147,155 | 916,776 |
Trustmark Corp. | 99,977 | 2,402,447 |
UMB Financial Corp. | 58,700 | 2,880,996 |
Umpqua Holdings Corp. | 331,688 | 5,539,190 |
Union Bankshares Corp. | 69,268 | 1,735,163 |
United Bankshares, Inc. | 103,848 | 4,107,188 |
United Community Banks, Inc. | 79,500 | 1,602,720 |
United Community Financial Corp. | 71,100 | 389,628 |
United Financial Bancorp, Inc. | 79,107 | 1,026,809 |
Univest Corp. of Pennsylvania | 25,000 | 492,250 |
Valley National Bancorp | 353,570 | 3,712,485 |
Walker & Dunlop, Inc. * | 37,645 | 1,092,081 |
Walter Investment Management Corp. *(c) | 57,403 | 686,540 |
Washington Federal, Inc. | 137,001 | 3,416,805 |
Washington Trust Bancorp, Inc. | 21,000 | 814,800 |
Waterstone Financial, Inc. | 45,557 | 606,819 |
Webster Financial Corp. | 136,127 | 5,050,312 |
WesBanco, Inc. | 57,358 | 1,872,739 |
West Bancorp, Inc. | 20,800 | 411,008 |
Westamerica Bancorp | 38,600 | 1,706,506 |
Western Alliance Bancorp * | 127,424 | 4,555,408 |
Wilshire Bancorp, Inc. | 98,300 | 1,050,827 |
Wintrust Financial Corp. | 70,566 | 3,562,877 |
WSFS Financial Corp. | 46,100 | 1,464,597 |
Yadkin Financial Corp. | 43,362 | 1,021,175 |
291,147,729 |
Security | Number of Shares | Value ($) |
Capital Goods 7.2% | ||
AAON, Inc. | 61,087 | 1,250,451 |
AAR Corp. | 51,120 | 1,159,913 |
Accuride Corp. * | 65,000 | 183,300 |
Actuant Corp., Class A | 91,423 | 2,084,444 |
Advanced Drainage Systems, Inc. | 49,015 | 1,540,051 |
Aegion Corp. * | 54,400 | 1,049,376 |
Aerojet Rocketdyne Holdings, Inc. * | 89,400 | 1,514,436 |
Aerovironment, Inc. * | 26,700 | 615,969 |
Aircastle Ltd. | 94,800 | 2,148,168 |
Alamo Group, Inc. | 13,100 | 614,652 |
Albany International Corp., Class A | 42,100 | 1,581,697 |
Allied Motion Technologies, Inc. | 7,974 | 153,818 |
Altra Industrial Motion Corp. | 38,400 | 1,016,064 |
Ameresco, Inc., Class A * | 27,700 | 179,496 |
American Railcar Industries, Inc. (c) | 14,631 | 844,501 |
American Science & Engineering, Inc. | 12,200 | 457,256 |
American Woodmark Corp. * | 18,900 | 1,374,030 |
Apogee Enterprises, Inc. | 43,400 | 2,149,602 |
Applied Industrial Technologies, Inc. | 58,110 | 2,400,524 |
Argan, Inc. | 19,900 | 735,305 |
Astec Industries, Inc. | 27,695 | 900,088 |
Astronics Corp. * | 31,292 | 1,183,151 |
AZZ, Inc. | 38,800 | 2,146,804 |
Barnes Group, Inc. | 83,240 | 3,128,992 |
Beacon Roofing Supply, Inc. * | 72,382 | 2,561,599 |
Blount International, Inc. * | 76,862 | 466,552 |
Blue Bird Corp. *(c) | 7,000 | 75,740 |
Briggs & Stratton Corp. | 69,593 | 1,236,668 |
Builders FirstSource, Inc. * | 81,700 | 965,694 |
CAI International, Inc. * | 24,500 | 284,690 |
Chart Industries, Inc. * | 45,102 | 775,303 |
CIRCOR International, Inc. | 26,300 | 1,207,696 |
CLARCOR, Inc. | 75,465 | 3,762,685 |
Columbus McKinnon Corp. | 30,600 | 571,914 |
Comfort Systems USA, Inc. | 57,000 | 1,820,010 |
Commercial Vehicle Group, Inc. * | 44,170 | 183,747 |
Continental Building Products, Inc. * | 48,944 | 859,946 |
Cubic Corp. | 33,215 | 1,489,693 |
Curtiss-Wright Corp. | 71,640 | 4,983,278 |
DigitalGlobe, Inc. * | 109,427 | 1,633,745 |
Douglas Dynamics, Inc. | 30,400 | 666,976 |
Ducommun, Inc. * | 15,100 | 326,764 |
DXP Enterprises, Inc. * | 19,000 | 574,940 |
Dycom Industries, Inc. * | 51,657 | 3,930,581 |
EMCOR Group, Inc. | 95,097 | 4,591,283 |
Encore Wire Corp. | 32,995 | 1,411,196 |
EnerSys | 67,074 | 4,090,843 |
Engility Holdings, Inc. | 28,234 | 908,852 |
Enphase Energy, Inc. *(c) | 52,097 | 187,549 |
EnPro Industries, Inc. | 34,800 | 1,709,028 |
ESCO Technologies, Inc. | 37,669 | 1,397,143 |
Esterline Technologies Corp. * | 44,842 | 3,455,076 |
Federal Signal Corp. | 94,400 | 1,421,664 |
Franklin Electric Co., Inc. | 70,936 | 2,338,051 |
Security | Number of Shares | Value ($) |
FreightCar America, Inc. | 16,000 | 290,880 |
FuelCell Energy, Inc. *(c) | 349,000 | 308,691 |
Furmanite Corp. * | 59,700 | 414,915 |
Generac Holdings, Inc. *(c) | 104,125 | 3,286,185 |
General Cable Corp. | 71,076 | 1,093,860 |
Gibraltar Industries, Inc. * | 46,000 | 1,164,720 |
Global Brass & Copper Holdings, Inc. | 31,300 | 703,937 |
Graham Corp. | 15,200 | 257,944 |
Granite Construction, Inc. | 58,000 | 1,904,720 |
Great Lakes Dredge & Dock Corp. * | 85,200 | 340,800 |
Griffon Corp. | 48,800 | 838,384 |
H&E Equipment Services, Inc. | 46,100 | 890,191 |
Harsco Corp. | 118,500 | 1,271,505 |
HC2 Holdings, Inc. *(c) | 27,021 | 204,279 |
HEICO Corp. | 30,405 | 1,533,628 |
HEICO Corp., Class A | 59,597 | 2,603,197 |
Hillenbrand, Inc. | 92,100 | 2,732,607 |
Hurco Cos., Inc. | 8,600 | 231,082 |
Hyster-Yale Materials Handling, Inc. | 15,554 | 910,220 |
Insteel Industries, Inc. | 28,500 | 609,615 |
John Bean Technologies Corp. | 42,333 | 1,899,058 |
Kadant, Inc. | 16,500 | 678,480 |
Kaman Corp. | 40,355 | 1,569,406 |
KLX, Inc. * | 78,994 | 3,089,455 |
Kratos Defense & Security Solutions, Inc. * | 62,600 | 312,374 |
L.B. Foster Co., Class A | 14,500 | 213,585 |
Lawson Products, Inc. * | 8,000 | 208,080 |
Lindsay Corp. (c) | 18,166 | 1,231,292 |
LSI Industries, Inc. | 34,500 | 370,530 |
Lydall, Inc. * | 26,600 | 910,518 |
Masonite International Corp. * | 45,200 | 2,706,124 |
MasTec, Inc. * | 100,173 | 1,679,901 |
Meritor, Inc. * | 141,038 | 1,533,083 |
Milacron Holdings Corp. * | 24,000 | 409,680 |
Miller Industries, Inc. | 15,800 | 358,344 |
Moog, Inc., Class A * | 57,857 | 3,573,248 |
MRC Global, Inc. * | 158,578 | 1,887,078 |
Mueller Industries, Inc. | 86,069 | 2,712,895 |
Mueller Water Products, Inc., Class A | 242,600 | 2,134,880 |
MYR Group, Inc. * | 33,000 | 742,500 |
National Presto Industries, Inc. | 7,100 | 625,155 |
Navistar International Corp. * | 81,807 | 1,006,226 |
NCI Building Systems, Inc. * | 41,200 | 430,952 |
Neff Corp., Class A * | 22,700 | 133,022 |
NN, Inc. | 39,117 | 539,815 |
Nortek, Inc. * | 14,128 | 866,753 |
Northwest Pipe Co. * | 15,513 | 204,927 |
NV5 Holdings, Inc. * | 8,500 | 197,880 |
Omega Flex, Inc. | 5,672 | 234,481 |
Orion Marine Group, Inc. * | 36,200 | 141,542 |
Patrick Industries, Inc. * | 18,000 | 730,440 |
PGT, Inc. * | 69,300 | 835,758 |
Plug Power, Inc. *(c) | 245,100 | 590,691 |
Ply Gem Holdings, Inc. * | 32,400 | 382,968 |
Powell Industries, Inc. | 13,000 | 433,160 |
Power Solutions International, Inc. *(c) | 6,600 | 119,064 |
Security | Number of Shares | Value ($) |
PowerSecure International, Inc. * | 31,100 | 387,506 |
Preformed Line Products Co. | 3,300 | 140,250 |
Primoris Services Corp. | 56,900 | 1,133,448 |
Proto Labs, Inc. * | 35,300 | 2,288,852 |
Quanex Building Products Corp. | 53,204 | 1,003,960 |
Raven Industries, Inc. | 53,000 | 965,130 |
RBC Bearings, Inc. * | 35,300 | 2,414,167 |
Rexnord Corp. * | 153,850 | 2,843,148 |
Rush Enterprises, Inc., Class A * | 51,387 | 1,252,815 |
Simpson Manufacturing Co., Inc. | 60,494 | 2,297,562 |
Sparton Corp. * | 14,600 | 343,538 |
Standex International Corp. | 19,900 | 1,785,428 |
Stock Building Supply Holdings, Inc. * | 21,400 | 369,792 |
Sun Hydraulics Corp. | 32,750 | 959,248 |
Sunrun, Inc. *(c) | 30,400 | 225,264 |
TAL International Group, Inc. * | 50,300 | 853,088 |
TASER International, Inc. * | 82,500 | 1,931,325 |
Teledyne Technologies, Inc. * | 52,326 | 4,669,049 |
Tennant Co. | 26,376 | 1,527,698 |
Textainer Group Holdings Ltd. (c) | 36,731 | 718,458 |
The ExOne Co. *(c) | 14,600 | 156,220 |
The Gorman-Rupp Co. | 29,031 | 829,996 |
The Greenbrier Cos., Inc. (c) | 38,001 | 1,445,558 |
The KEYW Holding Corp. *(c) | 46,700 | 332,971 |
Thermon Group Holdings, Inc. * | 46,800 | 941,148 |
Titan International, Inc. | 64,600 | 458,660 |
Titan Machinery, Inc. * | 23,200 | 283,736 |
Trex Co., Inc. * | 46,578 | 1,819,803 |
TriMas Corp. * | 67,000 | 1,340,670 |
Tutor Perini Corp. * | 54,030 | 906,623 |
Twin Disc, Inc. | 11,300 | 133,114 |
Univar, Inc. * | 61,700 | 1,089,622 |
Universal Forest Products, Inc. | 30,262 | 2,197,929 |
Vectrus, Inc. * | 13,547 | 336,914 |
Veritiv Corp. * | 13,476 | 565,992 |
Vicor Corp. * | 26,200 | 253,092 |
Wabash National Corp. * | 98,800 | 1,182,636 |
Watts Water Technologies, Inc., Class A | 40,911 | 2,227,195 |
Woodward, Inc. | 98,758 | 4,493,489 |
Xerium Technologies, Inc. * | 15,600 | 210,600 |
186,901,393 | ||
Commercial & Professional Supplies 3.6% | ||
ABM Industries, Inc. | 82,409 | 2,340,416 |
Acacia Research Corp. | 72,500 | 482,850 |
ACCO Brands Corp. * | 170,185 | 1,373,393 |
ARC Document Solutions, Inc. * | 64,500 | 401,190 |
Barrett Business Services, Inc. | 10,200 | 499,596 |
Brady Corp., Class A | 69,929 | 1,590,885 |
Casella Waste Systems, Inc., Class A * | 57,800 | 350,846 |
CBIZ, Inc. * | 76,500 | 822,375 |
CDI Corp. | 19,400 | 155,200 |
CEB, Inc. | 50,153 | 3,749,438 |
CECO Environmental Corp. | 50,352 | 449,140 |
Civeo Corp. | 137,900 | 256,494 |
CRA International, Inc. * | 14,500 | 339,300 |
Deluxe Corp. | 75,172 | 4,476,493 |
Ennis, Inc. | 38,200 | 765,146 |
Security | Number of Shares | Value ($) |
Essendant, Inc. | 57,734 | 1,995,864 |
Exponent, Inc. | 38,400 | 1,974,144 |
Franklin Covey Co. * | 17,900 | 306,627 |
FTI Consulting, Inc. * | 60,600 | 2,061,006 |
G&K Services, Inc., Class A | 29,830 | 1,963,411 |
GP Strategies Corp. * | 20,376 | 511,234 |
Healthcare Services Group, Inc. | 105,552 | 3,932,867 |
Heidrick & Struggles International, Inc. | 24,100 | 640,096 |
Heritage-Crystal Clean, Inc. * | 16,900 | 201,448 |
Herman Miller, Inc. | 88,300 | 2,801,759 |
Hill International, Inc. * | 35,300 | 119,314 |
HNI Corp. | 69,189 | 2,970,976 |
Huron Consulting Group, Inc. * | 34,800 | 1,680,840 |
ICF International, Inc. * | 28,200 | 864,894 |
InnerWorkings, Inc. * | 46,200 | 345,576 |
Insperity, Inc. | 27,726 | 1,288,150 |
Interface, Inc. | 97,500 | 1,906,125 |
Kelly Services, Inc., Class A | 47,323 | 747,703 |
Kforce, Inc. | 35,100 | 986,661 |
Kimball International, Inc., Class B | 58,299 | 636,625 |
Knoll, Inc. | 73,803 | 1,715,182 |
Korn/Ferry International | 74,261 | 2,700,873 |
Matthews International Corp., Class A | 50,059 | 2,889,906 |
McGrath RentCorp | 40,535 | 1,218,077 |
Mistras Group, Inc. * | 26,414 | 499,753 |
Mobile Mini, Inc. | 68,568 | 2,347,768 |
MSA Safety, Inc. | 43,089 | 1,873,510 |
Multi-Color Corp. | 18,500 | 1,440,040 |
Navigant Consulting, Inc. * | 72,548 | 1,247,826 |
NL Industries, Inc. * | 8,900 | 31,061 |
On Assignment, Inc. * | 79,539 | 3,588,004 |
Pendrell Corp. * | 230,900 | 154,703 |
Quad Graphics, Inc. | 41,700 | 537,930 |
Resources Connection, Inc. | 53,450 | 959,427 |
RPX Corp. * | 77,800 | 1,107,872 |
SP Plus Corp. * | 26,500 | 675,750 |
Steelcase, Inc., Class A | 126,942 | 2,463,944 |
Team, Inc. * | 33,778 | 1,182,230 |
Tetra Tech, Inc. | 91,261 | 2,454,921 |
The Advisory Board Co. * | 63,038 | 2,762,955 |
The Brink's Co. | 72,300 | 2,239,854 |
TRC Cos., Inc. * | 27,863 | 287,825 |
TriNet Group, Inc. * | 66,046 | 1,253,553 |
TrueBlue, Inc. * | 61,576 | 1,783,857 |
UniFirst Corp. | 22,206 | 2,333,184 |
US Ecology, Inc. | 34,000 | 1,333,140 |
Viad Corp. | 30,396 | 915,223 |
Volt Information Sciences, Inc. * | 9,482 | 81,735 |
VSE Corp. | 7,400 | 425,204 |
WageWorks, Inc. * | 54,400 | 2,612,288 |
West Corp. | 80,258 | 1,910,943 |
93,016,620 | ||
Consumer Durables & Apparel 2.5% | ||
Arctic Cat, Inc. | 18,800 | 386,152 |
Bassett Furniture Industries, Inc. | 14,009 | 447,728 |
Beazer Homes USA, Inc. * | 47,640 | 678,394 |
Black Diamond, Inc. * | 36,700 | 203,318 |
CalAtlantic Group, Inc. * | 116,406 | 4,433,904 |
Security | Number of Shares | Value ($) |
Callaway Golf Co. | 122,269 | 1,216,576 |
Cavco Industries, Inc. * | 13,000 | 1,281,800 |
Century Communities, Inc. * | 20,052 | 382,592 |
Cherokee, Inc. * | 10,804 | 196,093 |
Columbia Sportswear Co. | 42,700 | 2,342,095 |
Crocs, Inc. * | 110,400 | 1,192,320 |
CSS Industries, Inc. | 13,400 | 365,820 |
Culp, Inc. | 16,000 | 480,160 |
Deckers Outdoor Corp. * | 49,271 | 2,742,424 |
Escalade, Inc. | 14,500 | 215,035 |
Ethan Allen Interiors, Inc. | 38,179 | 1,038,851 |
Flexsteel Industries, Inc. | 10,100 | 439,249 |
G-III Apparel Group Ltd. * | 58,510 | 3,223,316 |
Green Brick Partners, Inc. * | 35,040 | 369,672 |
Helen of Troy Ltd. * | 43,083 | 4,274,264 |
Hooker Furniture Corp. | 13,334 | 330,950 |
Hovnanian Enterprises, Inc., Class A *(c) | 161,300 | 332,278 |
Iconix Brand Group, Inc. * | 70,800 | 1,084,656 |
Installed Building Products, Inc. * | 30,971 | 686,008 |
iRobot Corp. * | 44,245 | 1,327,792 |
JAKKS Pacific, Inc. *(c) | 36,400 | 288,288 |
Johnson Outdoors, Inc., Class A | 8,500 | 182,155 |
KB Home | 125,700 | 1,646,670 |
La-Z-Boy, Inc. | 78,200 | 2,232,610 |
LGI Homes, Inc. *(c) | 21,000 | 588,630 |
Libbey, Inc. | 34,479 | 1,159,873 |
Lifetime Brands, Inc. | 12,400 | 190,588 |
M.D.C. Holdings, Inc. | 55,093 | 1,431,867 |
M/I Homes, Inc. * | 34,500 | 791,775 |
Malibu Boats, Inc., Class A * | 25,461 | 361,801 |
Marine Products Corp. | 13,700 | 96,859 |
MCBC Holdings, Inc. * | 5,900 | 77,703 |
Meritage Homes Corp. * | 58,185 | 2,051,603 |
Movado Group, Inc. | 27,200 | 700,128 |
NACCO Industries, Inc., Class A | 7,777 | 348,643 |
Nautilus, Inc. * | 44,200 | 753,168 |
Oxford Industries, Inc. | 22,296 | 1,623,595 |
Performance Sports Group Ltd. * | 68,769 | 789,468 |
Perry Ellis International, Inc. * | 16,800 | 360,696 |
Sequential Brands Group, Inc. *(c) | 42,509 | 531,788 |
Skullcandy, Inc. * | 36,100 | 202,160 |
Smith & Wesson Holding Corp. * | 80,900 | 1,444,874 |
Steven Madden Ltd. * | 85,176 | 2,968,384 |
Sturm, Ruger & Co., Inc. | 27,000 | 1,537,380 |
Superior Uniform Group, Inc. | 9,527 | 162,340 |
Taylor Morrison Home Corp., Class A * | 50,000 | 921,500 |
The New Home Co., Inc. * | 16,049 | 229,661 |
TRI Pointe Group, Inc. * | 237,700 | 3,085,346 |
Tumi Holdings, Inc. * | 82,300 | 1,319,269 |
Unifi, Inc. * | 21,300 | 651,567 |
Universal Electronics, Inc. * | 24,800 | 1,179,736 |
Vera Bradley, Inc. * | 39,500 | 494,145 |
Vince Holding Corp. * | 16,700 | 75,985 |
WCI Communities, Inc. * | 23,200 | 554,248 |
William Lyon Homes, Class A * | 32,000 | 682,880 |
Wolverine World Wide, Inc. | 154,747 | 2,873,652 |
ZAGG, Inc. * | 39,621 | 335,986 |
64,598,468 |
Security | Number of Shares | Value ($) |
Consumer Services 4.4% | ||
2U, Inc. * | 36,758 | 771,183 |
American Public Education, Inc. * | 25,200 | 547,596 |
Apollo Education Group, Inc. * | 145,126 | 1,053,615 |
Ascent Capital Group, Inc., Class A * | 19,700 | 429,066 |
Belmond Ltd., Class A * | 143,700 | 1,543,338 |
Biglari Holdings, Inc. * | 2,410 | 925,753 |
BJ's Restaurants, Inc. * | 33,000 | 1,416,690 |
Bloomin' Brands, Inc. | 184,813 | 3,136,277 |
Bob Evans Farms, Inc. | 33,546 | 1,451,535 |
Bojangles', Inc. *(c) | 9,950 | 165,469 |
Boyd Gaming Corp. * | 123,500 | 2,468,765 |
Bravo Brio Restaurant Group, Inc. * | 28,900 | 339,286 |
Bridgepoint Education, Inc. * | 36,200 | 280,550 |
Bright Horizons Family Solutions, Inc. * | 55,021 | 3,522,444 |
Buffalo Wild Wings, Inc. * | 28,079 | 4,331,747 |
Caesars Acquisition Co., Class A * | 67,100 | 491,172 |
Caesars Entertainment Corp. *(c) | 87,400 | 703,570 |
Cambium Learning Group, Inc. * | 18,000 | 86,580 |
Capella Education Co. | 18,500 | 835,275 |
Career Education Corp. * | 91,200 | 329,232 |
Carriage Services, Inc. | 21,800 | 468,918 |
Carrols Restaurant Group, Inc. * | 51,700 | 607,992 |
Chegg, Inc. *(c) | 125,300 | 864,570 |
Churchill Downs, Inc. | 20,214 | 2,968,022 |
Chuy's Holdings, Inc. * | 23,100 | 628,551 |
ClubCorp Holdings, Inc. | 61,911 | 1,265,461 |
Collectors Universe, Inc. | 10,100 | 174,629 |
Cracker Barrel Old Country Store, Inc. (c) | 28,616 | 3,933,555 |
Dave & Buster's Entertainment, Inc. * | 34,468 | 1,329,775 |
Del Frisco's Restaurant Group, Inc. * | 34,700 | 467,409 |
Denny's Corp. * | 132,500 | 1,452,200 |
DeVry Education Group, Inc. | 93,884 | 2,211,907 |
Diamond Resorts International, Inc. * | 59,198 | 1,683,591 |
DineEquity, Inc. | 24,897 | 2,077,655 |
El Pollo Loco Holdings, Inc. *(c) | 18,900 | 216,972 |
Eldorado Resorts, Inc. * | 38,509 | 381,239 |
Empire Resorts, Inc. *(c) | 22,100 | 102,544 |
Fiesta Restaurant Group, Inc. * | 39,300 | 1,389,648 |
Fogo De Chao, Inc. *(c) | 4,700 | 70,970 |
Grand Canyon Education, Inc. * | 68,775 | 2,858,289 |
Houghton Mifflin Harcourt Co. * | 204,894 | 4,013,873 |
International Speedway Corp., Class A | 43,500 | 1,509,015 |
Interval Leisure Group, Inc. | 60,600 | 1,069,590 |
Intrawest Resorts Holdings, Inc. * | 31,900 | 285,824 |
Isle of Capri Casinos, Inc. * | 37,100 | 709,723 |
J Alexander's Holdings, Inc. * | 21,043 | 202,855 |
Jack in the Box, Inc. | 55,908 | 4,166,823 |
Jamba, Inc. *(c) | 20,260 | 268,445 |
K12, Inc. * | 49,849 | 484,034 |
Kona Grill, Inc. * | 10,019 | 137,761 |
Krispy Kreme Doughnuts, Inc. * | 96,900 | 1,326,561 |
La Quinta Holdings, Inc. * | 142,702 | 2,161,935 |
Security | Number of Shares | Value ($) |
Liberty Tax, Inc. | 11,700 | 270,153 |
LifeLock, Inc. *(c) | 134,667 | 1,886,685 |
Marriott Vacations Worldwide Corp. | 39,085 | 2,517,074 |
Monarch Casino & Resort, Inc. * | 11,900 | 261,086 |
Morgans Hotel Group Co. * | 38,000 | 136,420 |
Noodles & Co. *(c) | 15,900 | 234,843 |
Papa John's International, Inc. | 43,911 | 3,081,235 |
Papa Murphy's Holdings, Inc. *(c) | 11,500 | 158,815 |
Penn National Gaming, Inc. * | 115,300 | 2,059,258 |
Pinnacle Entertainment, Inc. * | 91,047 | 3,187,555 |
Planet Fitness, Inc., Class A * | 19,700 | 321,898 |
Popeyes Louisiana Kitchen, Inc. * | 35,700 | 2,014,908 |
Potbelly Corp. *(c) | 34,100 | 381,920 |
Red Robin Gourmet Burgers, Inc. * | 21,700 | 1,625,113 |
Regis Corp. * | 58,100 | 959,812 |
Ruby Tuesday, Inc. * | 87,200 | 456,056 |
Ruth's Hospitality Group, Inc. | 56,600 | 877,866 |
Scientific Games Corp., Class A *(c) | 77,100 | 855,039 |
SeaWorld Entertainment, Inc. | 103,823 | 2,069,192 |
Shake Shack, Inc., Class A * | 9,400 | 428,358 |
Sonic Corp. | 77,501 | 2,211,879 |
Sotheby's | 92,900 | 3,218,985 |
Speedway Motorsports, Inc. | 15,784 | 291,531 |
Steiner Leisure Ltd. * | 20,909 | 1,324,794 |
Strayer Education, Inc. * | 16,400 | 867,888 |
Texas Roadhouse, Inc. | 106,096 | 3,644,398 |
The Cheesecake Factory, Inc. | 72,267 | 3,483,269 |
The Habit Restaurants, Inc., Class A *(c) | 16,111 | 384,731 |
The Marcus Corp. | 27,300 | 564,837 |
Universal Technical Institute, Inc. | 43,900 | 186,575 |
Vail Resorts, Inc. | 54,771 | 6,253,205 |
Weight Watchers International, Inc. *(c) | 40,600 | 624,428 |
Wingstop, Inc. * | 7,900 | 182,727 |
Zoe's Kitchen, Inc. *(c) | 30,502 | 1,050,184 |
114,392,196 | ||
Diversified Financials 2.2% | ||
Arlington Asset Investment Corp., Class A | 33,300 | 461,205 |
Ashford, Inc. * | 2,160 | 138,780 |
BGC Partners, Inc., Class A | 278,100 | 2,405,565 |
Calamos Asset Management, Inc., Class A | 24,400 | 229,116 |
Cash America International, Inc. | 41,570 | 1,435,412 |
CIFC Corp. | 12,194 | 84,382 |
Cohen & Steers, Inc. | 28,128 | 860,435 |
Cowen Group, Inc., Class A * | 169,300 | 712,753 |
Diamond Hill Investment Group, Inc. | 4,100 | 820,205 |
Encore Capital Group, Inc. *(c) | 37,800 | 1,538,460 |
Enova International, Inc. * | 44,836 | 582,868 |
Evercore Partners, Inc., Class A | 51,600 | 2,786,400 |
Ezcorp, Inc., Class A * | 77,400 | 515,484 |
Fifth Street Asset Management, Inc. | 15,700 | 92,002 |
Financial Engines, Inc. (c) | 78,900 | 2,537,424 |
Security | Number of Shares | Value ($) |
First Cash Financial Services, Inc. * | 40,441 | 1,542,824 |
FNFV Group * | 121,836 | 1,369,437 |
Gain Capital Holdings, Inc. | 50,700 | 377,715 |
GAMCO Investors, Inc., Class A | 9,700 | 559,496 |
Green Dot Corp., Class A * | 64,341 | 1,192,882 |
Greenhill & Co., Inc. | 42,729 | 1,103,263 |
HFF, Inc., Class A | 54,800 | 1,891,696 |
Houlihan Lokey, Inc. * | 20,100 | 440,391 |
INTL FCStone, Inc. * | 25,100 | 802,949 |
Investment Technology Group, Inc. | 55,265 | 884,793 |
Janus Capital Group, Inc. | 222,653 | 3,457,801 |
KCG Holdings, Inc., Class A * | 53,181 | 664,231 |
Ladenburg Thalmann Financial Services, Inc. * | 142,600 | 362,204 |
MarketAxess Holdings, Inc. | 55,422 | 5,614,803 |
Marlin Business Services Corp. | 11,600 | 204,856 |
Medley Management, Inc., Class A (c) | 14,400 | 105,696 |
Moelis & Co., Class A | 25,024 | 737,708 |
Nelnet, Inc., Class A | 33,600 | 1,202,208 |
NewStar Financial, Inc. * | 36,500 | 385,075 |
OM Asset Management plc | 34,200 | 519,156 |
On Deck Capital, Inc. *(c) | 18,400 | 175,168 |
Oppenheimer Holdings, Inc., Class A | 13,800 | 253,230 |
PICO Holdings, Inc. * | 39,800 | 384,468 |
Piper Jaffray Cos. * | 23,529 | 836,927 |
PRA Group, Inc. * | 72,381 | 3,966,479 |
Pzena Investment Management, Inc., Class A | 13,700 | 130,561 |
RCS Capital Corp., Class A *(c) | 68,846 | 52,192 |
Regional Management Corp. * | 15,700 | 256,067 |
Resource America, Inc., Class A | 16,500 | 126,885 |
Safeguard Scientifics, Inc. * | 26,900 | 477,475 |
Stifel Financial Corp. * | 102,310 | 4,545,633 |
The JG Wentworth Co., Class A * | 14,200 | 72,704 |
Tiptree Financial, Inc., Class A | 37,500 | 253,875 |
Virtu Financial, Inc., Class A | 31,071 | 751,918 |
Virtus Investment Partners, Inc. | 10,500 | 1,228,920 |
Westwood Holdings Group, Inc. | 11,500 | 668,150 |
WisdomTree Investments, Inc. | 174,900 | 3,363,327 |
World Acceptance Corp. *(c) | 11,900 | 453,747 |
ZAIS Group Holdings, Inc. * | 7,000 | 72,730 |
56,690,131 | ||
Energy 3.0% | ||
Abraxas Petroleum Corp. * | 129,000 | 205,110 |
Adams Resources & Energy, Inc. | 2,900 | 128,934 |
Alon USA Energy, Inc. | 48,900 | 819,075 |
Approach Resources, Inc. *(c) | 57,800 | 136,408 |
Ardmore Shipping Corp. | 26,500 | 380,275 |
Atwood Oceanics, Inc. (c) | 101,121 | 1,673,553 |
Basic Energy Services, Inc. *(c) | 46,100 | 171,031 |
Bill Barrett Corp. * | 75,298 | 366,701 |
Bonanza Creek Energy, Inc. * | 71,032 | 404,172 |
Bristow Group, Inc. | 50,862 | 1,766,437 |
C&J Energy Services Ltd. *(c) | 77,850 | 388,472 |
Callon Petroleum Co. * | 102,400 | 888,832 |
CARBO Ceramics, Inc. (c) | 29,300 | 513,336 |
Carrizo Oil & Gas, Inc. * | 77,311 | 2,909,213 |
Security | Number of Shares | Value ($) |
Clayton Williams Energy, Inc. * | 8,600 | 512,302 |
Clean Energy Fuels Corp. *(c) | 108,338 | 612,110 |
Cloud Peak Energy, Inc. *(c) | 92,300 | 274,131 |
Contango Oil & Gas Co. * | 25,520 | 195,228 |
Delek US Holdings, Inc. | 84,287 | 2,292,606 |
DHT Holdings, Inc. | 135,700 | 1,066,602 |
Dorian LPG Ltd. * | 32,103 | 378,173 |
Earthstone Energy, Inc. * | 4,000 | 56,220 |
Eclipse Resources Corp. *(c) | 68,600 | 147,490 |
Energy Fuels, Inc. * | 58,740 | 159,773 |
Energy XXI Ltd. (c) | 127,806 | 221,104 |
Era Group, Inc. * | 28,700 | 399,217 |
Erin Energy Corp. *(c) | 18,000 | 72,000 |
Evolution Petroleum Corp. | 30,500 | 210,450 |
EXCO Resources, Inc. *(c) | 222,774 | 249,507 |
Exterran Holdings, Inc. | 107,428 | 2,335,485 |
Fairmount Santrol Holdings, Inc. *(c) | 90,253 | 240,976 |
Forum Energy Technologies, Inc. * | 86,355 | 1,144,204 |
Frontline Ltd. *(c) | 161,719 | 511,032 |
GasLog Ltd. (c) | 61,800 | 715,026 |
Gastar Exploration, Inc. * | 104,600 | 164,222 |
Gener8 Maritime, Inc. * | 20,300 | 211,120 |
Geospace Technologies Corp. * | 19,800 | 304,128 |
Green Plains, Inc. | 54,900 | 1,125,999 |
Gulfmark Offshore, Inc., Class A (c) | 39,300 | 245,232 |
Halcon Resources Corp. * | 601,921 | 422,007 |
Hallador Energy Co. (c) | 15,600 | 95,004 |
Helix Energy Solutions Group, Inc. * | 161,307 | 932,354 |
Hornbeck Offshore Services, Inc. * | 54,245 | 732,850 |
Independence Contract Drilling, Inc. * | 18,200 | 127,946 |
ION Geophysical Corp. * | 206,400 | 76,368 |
Isramco, Inc. * | 1,400 | 133,000 |
Jones Energy, Inc., Class A * | 39,239 | 201,688 |
Key Energy Services, Inc. * | 192,700 | 101,245 |
Magnum Hunter Resources Corp. * | 390,400 | 103,925 |
Matador Resources Co. * | 107,062 | 2,752,564 |
Matrix Service Co. * | 39,700 | 901,190 |
McDermott International, Inc. * | 348,685 | 1,607,438 |
Natural Gas Services Group, Inc. * | 20,500 | 461,660 |
Navios Maritime Acquisition Corp. | 120,600 | 431,748 |
Newpark Resources, Inc. * | 126,710 | 717,179 |
Nordic American Offshore Ltd. *(c) | 24,000 | 144,720 |
Nordic American Tankers Ltd. (c) | 133,500 | 2,039,880 |
North Atlantic Drilling Ltd. *(c) | 106,800 | 88,163 |
Northern Oil & Gas, Inc. *(c) | 105,500 | 531,720 |
Oasis Petroleum, Inc. *(c) | 212,213 | 2,468,037 |
Oil States International, Inc. * | 75,000 | 2,250,750 |
Pacific Ethanol, Inc. * | 54,600 | 328,146 |
Panhandle Oil & Gas, Inc., Class A | 24,200 | 444,796 |
Par Pacific Holdings, Inc. * | 25,238 | 575,426 |
Parker Drilling Co. * | 181,265 | 518,418 |
Parsley Energy, Inc., Class A * | 140,234 | 2,486,349 |
PDC Energy, Inc. * | 60,003 | 3,620,581 |
Peabody Energy Corp. (c) | 26,342 | 336,914 |
Penn Virginia Corp. *(c) | 96,278 | 59,586 |
PHI, Inc. - Non Voting Shares * | 19,572 | 372,651 |
Security | Number of Shares | Value ($) |
Pioneer Energy Services Corp. * | 91,500 | 211,365 |
Renewable Energy Group, Inc. * | 75,800 | 598,062 |
REX American Resources Corp. * | 8,500 | 466,735 |
Rex Energy Corp. *(c) | 71,700 | 162,042 |
RigNet, Inc. * | 16,900 | 507,000 |
Ring Energy, Inc. * | 34,800 | 361,572 |
RSP Permian, Inc. * | 91,349 | 2,504,790 |
Sanchez Energy Corp. *(c) | 75,253 | 447,755 |
SandRidge Energy, Inc. * | 621,926 | 230,299 |
Scorpio Tankers, Inc. | 267,702 | 2,441,442 |
SEACOR Holdings, Inc. * | 28,200 | 1,647,444 |
SemGroup Corp., Class A | 67,465 | 3,073,031 |
Seventy Seven Energy, Inc. *(c) | 80,408 | 91,665 |
Ship Finance International Ltd. (c) | 85,700 | 1,464,613 |
Solazyme, Inc. *(c) | 111,500 | 365,720 |
Stone Energy Corp. * | 82,968 | 463,791 |
Synergy Resources Corp. * | 149,512 | 1,673,039 |
Teekay Tankers Ltd., Class A | 141,900 | 1,084,116 |
Tesco Corp. | 52,500 | 420,000 |
TETRA Technologies, Inc. * | 118,074 | 795,819 |
Tidewater, Inc. (c) | 66,195 | 817,508 |
TransAtlantic Petroleum Ltd. * | 33,200 | 83,996 |
Triangle Petroleum Corp. *(c) | 77,500 | 93,000 |
Ultra Petroleum Corp. *(c) | 219,981 | 1,205,496 |
Unit Corp. * | 80,078 | 1,009,784 |
Uranium Energy Corp. *(c) | 220,947 | 247,461 |
US Silica Holdings, Inc. (c) | 81,000 | 1,462,860 |
W&T Offshore, Inc. (c) | 49,000 | 159,740 |
Western Refining, Inc. | 107,642 | 4,480,060 |
Westmoreland Coal Co. *(c) | 26,052 | 186,532 |
79,416,926 | ||
Food & Staples Retailing 0.9% | ||
Casey's General Stores, Inc. | 57,506 | 6,108,287 |
Fairway Group Holdings Corp. *(c) | 42,300 | 49,068 |
Ingles Markets, Inc., Class A | 20,731 | 1,035,306 |
Natural Grocers by Vitamin Cottage, Inc. * | 12,600 | 301,770 |
PriceSmart, Inc. | 29,400 | 2,527,812 |
Smart & Final Stores, Inc. * | 37,600 | 554,224 |
SpartanNash, Co. | 57,833 | 1,613,541 |
SUPERVALU, Inc. * | 398,636 | 2,619,039 |
The Andersons, Inc. | 43,223 | 1,530,094 |
The Chefs' Warehouse, Inc. * | 28,300 | 428,745 |
The Fresh Market, Inc. * | 62,800 | 1,564,976 |
United Natural Foods, Inc. * | 75,082 | 3,787,887 |
Village Super Market, Inc., Class A | 11,600 | 290,696 |
Weis Markets, Inc. | 15,800 | 650,012 |
23,061,457 | ||
Food, Beverage & Tobacco 2.1% | ||
Alico, Inc. | 4,700 | 200,643 |
Amplify Snack Brands, Inc. *(c) | 26,200 | 316,496 |
Arcadia Biosciences, Inc. *(c) | 11,000 | 30,800 |
B&G Foods, Inc. | 87,057 | 3,159,299 |
Boulder Brands, Inc. *(c) | 91,800 | 813,348 |
Cal-Maine Foods, Inc. (c) | 47,416 | 2,534,859 |
Calavo Growers, Inc. | 21,088 | 1,084,134 |
Castle Brands, Inc. * | 71,331 | 92,730 |
Security | Number of Shares | Value ($) |
Coca-Cola Bottling Co. Consolidated | 6,800 | 1,436,228 |
Craft Brew Alliance, Inc. * | 13,900 | 106,474 |
Darling Ingredients, Inc. * | 248,400 | 2,513,808 |
Dean Foods Co. | 143,400 | 2,596,974 |
Diamond Foods, Inc. * | 40,400 | 1,600,648 |
Farmer Bros. Co. * | 9,100 | 258,258 |
Fresh Del Monte Produce, Inc. | 47,861 | 2,183,897 |
Freshpet, Inc. *(c) | 28,350 | 276,413 |
Inventure Foods, Inc. * | 33,000 | 285,780 |
J&J Snack Foods Corp. | 21,581 | 2,649,931 |
John B. Sanfilippo & Son, Inc. | 10,900 | 705,448 |
Lancaster Colony Corp. | 27,656 | 3,145,040 |
Landec Corp. * | 44,654 | 549,244 |
Lifeway Foods, Inc. * | 10,100 | 114,635 |
Limoneira Co. (c) | 17,600 | 279,136 |
MGP Ingredients, Inc. | 21,547 | 373,410 |
National Beverage Corp. * | 15,001 | 564,638 |
Omega Protein Corp. * | 33,400 | 607,880 |
Post Holdings, Inc. * | 92,699 | 5,957,765 |
Sanderson Farms, Inc. (c) | 34,143 | 2,373,280 |
Seaboard Corp. * | 420 | 1,414,560 |
Seneca Foods Corp., Class A * | 12,400 | 361,832 |
Snyder's-Lance, Inc. | 73,300 | 2,605,082 |
The Boston Beer Co., Inc., Class A *(c) | 13,500 | 2,964,465 |
Tootsie Roll Industries, Inc. (c) | 28,401 | 901,448 |
TreeHouse Foods, Inc. * | 63,252 | 5,416,901 |
Universal Corp. | 32,424 | 1,751,220 |
Vector Group Ltd. | 130,522 | 3,165,158 |
55,391,862 | ||
Health Care Equipment & Services 6.7% | ||
AAC Holdings, Inc. *(c) | 11,800 | 273,760 |
Abaxis, Inc. | 34,300 | 1,722,203 |
ABIOMED, Inc. * | 61,900 | 4,559,554 |
Accuray, Inc. *(c) | 115,500 | 773,850 |
Aceto Corp. | 46,000 | 1,387,360 |
Addus HomeCare Corp. * | 7,800 | 194,844 |
Adeptus Health, Inc., Class A *(c) | 9,400 | 609,966 |
Air Methods Corp. * | 59,000 | 2,414,870 |
Alliance HealthCare Services, Inc. * | 7,100 | 60,066 |
Almost Family, Inc. * | 11,000 | 455,180 |
Amedisys, Inc. * | 43,900 | 1,737,562 |
AMN Healthcare Services, Inc. * | 71,300 | 2,022,781 |
Amsurg Corp. * | 72,053 | 5,050,195 |
Analogic Corp. | 17,954 | 1,573,129 |
AngioDynamics, Inc. * | 41,100 | 517,038 |
Anika Therapeutics, Inc. * | 21,900 | 843,588 |
Antares Pharma, Inc. * | 256,299 | 353,693 |
AtriCure, Inc. * | 41,500 | 768,788 |
Atrion Corp. | 2,300 | 848,700 |
BioScrip, Inc. *(c) | 100,400 | 197,788 |
BioTelemetry, Inc. * | 38,700 | 503,874 |
Cantel Medical Corp. | 51,445 | 3,049,660 |
Capital Senior Living Corp. * | 44,800 | 1,013,376 |
Cardiovascular Systems, Inc. * | 45,900 | 628,830 |
Castlight Health, Inc., Class B *(c) | 45,673 | 231,105 |
Cerus Corp. *(c) | 137,100 | 653,967 |
Chemed Corp. | 25,598 | 4,026,309 |
Security | Number of Shares | Value ($) |
Civitas Solutions, Inc. * | 17,400 | 447,702 |
Computer Programs & Systems, Inc. | 17,500 | 665,175 |
ConforMIS, Inc. *(c) | 13,700 | 268,109 |
CONMED Corp. | 43,000 | 1,744,080 |
Connecture, Inc. *(c) | 13,900 | 82,010 |
Corindus Vascular Robotics, Inc. *(c) | 25,000 | 80,000 |
CorVel Corp. * | 14,500 | 481,400 |
Cross Country Healthcare, Inc. * | 49,215 | 664,403 |
CryoLife, Inc. | 37,400 | 394,196 |
Cutera, Inc. * | 18,705 | 253,827 |
Cynosure, Inc., Class A * | 34,944 | 1,315,292 |
Diplomat Pharmacy, Inc. * | 51,688 | 1,452,950 |
EndoChoice Holdings, Inc. * | 6,400 | 66,048 |
Endologix, Inc. * | 98,037 | 837,236 |
Entellus Medical, Inc. * | 9,800 | 166,502 |
Evolent Health, Inc., Class A * | 16,100 | 206,885 |
Exactech, Inc. * | 15,000 | 255,450 |
ExamWorks Group, Inc. * | 59,613 | 1,683,471 |
Five Star Quality Care, Inc. * | 56,200 | 183,774 |
Genesis Healthcare, Inc. * | 48,100 | 238,576 |
GenMark Diagnostics, Inc. * | 61,000 | 387,960 |
Glaukos Corp. * | 8,200 | 164,328 |
Globus Medical, Inc., Class A * | 104,200 | 2,328,870 |
Greatbatch, Inc. * | 37,000 | 1,977,650 |
Haemonetics Corp. * | 78,600 | 2,655,108 |
Halyard Health, Inc. * | 68,293 | 2,026,936 |
Hanger, Inc. * | 52,800 | 761,376 |
HealthEquity, Inc. * | 55,634 | 1,819,788 |
HealthSouth Corp. | 136,400 | 4,750,812 |
HealthStream, Inc. * | 36,800 | 876,208 |
Healthways, Inc. * | 48,800 | 574,376 |
HeartWare International, Inc. * | 25,300 | 1,092,707 |
HMS Holdings Corp. * | 138,452 | 1,457,900 |
ICU Medical, Inc. * | 21,400 | 2,353,358 |
Imprivata, Inc. * | 15,800 | 170,482 |
Inogen, Inc. * | 24,598 | 1,051,319 |
Insulet Corp. * | 83,600 | 2,499,640 |
Integra LifeSciences Holdings Corp. * | 42,748 | 2,546,498 |
Invacare Corp. | 49,211 | 850,366 |
InVivo Therapeutics Holdings Corp. *(c) | 37,498 | 272,235 |
Invuity, Inc. *(c) | 5,300 | 71,179 |
IPC Healthcare, Inc. * | 26,300 | 2,064,550 |
iRadimed Corp. * | 4,000 | 106,000 |
K2M Group Holdings, Inc. * | 24,900 | 454,425 |
Kindred Healthcare, Inc. | 124,823 | 1,672,628 |
Landauer, Inc. | 13,300 | 525,217 |
Lantheus Holdings, Inc. * | 13,000 | 39,000 |
LDR Holding Corp. * | 36,873 | 932,887 |
LeMaitre Vascular, Inc. | 22,435 | 298,834 |
LHC Group, Inc. * | 19,700 | 887,781 |
LivaNova plc * | 66,775 | 4,425,847 |
Magellan Health, Inc. * | 39,368 | 2,102,251 |
Masimo Corp. * | 66,000 | 2,618,880 |
MedAssets, Inc. * | 93,100 | 2,204,608 |
Medidata Solutions, Inc. * | 81,700 | 3,513,100 |
Meridian Bioscience, Inc. | 64,350 | 1,223,293 |
Merit Medical Systems, Inc. * | 66,300 | 1,229,202 |
Molina Healthcare, Inc. * | 59,743 | 3,704,066 |
Security | Number of Shares | Value ($) |
National HealthCare Corp. | 15,388 | 1,004,529 |
National Research Corp., Class A | 12,500 | 191,625 |
Natus Medical, Inc. * | 51,000 | 2,322,030 |
Neogen Corp. * | 56,925 | 3,076,796 |
Nevro Corp. * | 24,264 | 989,243 |
Nobilis Health Corp. *(c) | 43,191 | 121,799 |
NuVasive, Inc. * | 73,300 | 3,456,828 |
NxStage Medical, Inc. * | 92,700 | 1,549,017 |
Omnicell, Inc. * | 52,300 | 1,422,560 |
OraSure Technologies, Inc. * | 87,400 | 454,480 |
Orthofix International N.V. * | 28,200 | 960,210 |
Owens & Minor, Inc. | 92,200 | 3,305,370 |
Oxford Immunotec Global plc * | 29,400 | 368,676 |
PharMerica Corp. * | 47,100 | 1,345,647 |
Press Ganey Holdings, Inc. * | 14,686 | 460,259 |
Quality Systems, Inc. | 73,100 | 1,027,055 |
Quidel Corp. * | 40,300 | 774,566 |
RadNet, Inc. * | 48,000 | 317,280 |
Rockwell Medical, Inc. *(c) | 78,700 | 911,346 |
RTI Surgical, Inc. * | 73,900 | 310,750 |
SeaSpine Holdings Corp. * | 12,215 | 184,202 |
Second Sight Medical Products, Inc. *(c) | 16,421 | 96,555 |
Select Medical Holdings Corp. | 160,711 | 1,816,034 |
Sientra, Inc. * | 11,000 | 41,360 |
STAAR Surgical Co. * | 52,900 | 431,135 |
STERIS Corp. (c) | 126,127 | 9,453,219 |
Surgical Care Affiliates, Inc. * | 32,237 | 954,538 |
SurModics, Inc. * | 20,400 | 435,132 |
Tandem Diabetes Care, Inc. * | 25,400 | 230,378 |
Team Health Holdings, Inc. * | 106,058 | 6,328,481 |
Teladoc, Inc. *(c) | 12,000 | 236,040 |
The Ensign Group, Inc. | 36,850 | 1,553,596 |
The Providence Service Corp. * | 21,100 | 1,089,815 |
The Spectranetics Corp. * | 63,236 | 772,744 |
TransEnterix, Inc. *(c) | 42,100 | 104,829 |
Triple-S Management Corp., Class B * | 40,600 | 835,954 |
Trupanion, Inc. *(c) | 14,200 | 93,294 |
U.S. Physical Therapy, Inc. | 19,300 | 946,858 |
Unilife Corp. *(c) | 221,152 | 166,660 |
Universal American Corp. | 84,202 | 628,147 |
Utah Medical Products, Inc. | 7,300 | 430,481 |
Vascular Solutions, Inc. * | 27,136 | 871,608 |
Veracyte, Inc. * | 23,200 | 151,032 |
Vocera Communications, Inc. * | 45,500 | 535,535 |
WellCare Health Plans, Inc. * | 65,906 | 5,839,272 |
West Pharmaceutical Services, Inc. | 108,532 | 6,513,005 |
Wright Medical Group N.V. * | 134,961 | 2,608,796 |
Zeltiq Aesthetics, Inc. * | 46,400 | 1,565,536 |
175,935,089 | ||
Household & Personal Products 0.4% | ||
Central Garden & Pet Co., Class A * | 66,600 | 1,124,208 |
Elizabeth Arden, Inc. *(c) | 36,298 | 455,177 |
HRG Group, Inc. * | 122,000 | 1,640,900 |
Inter Parfums, Inc. | 25,400 | 701,548 |
Medifast, Inc. * | 13,279 | 371,413 |
Natural Health Trends Corp. (c) | 12,400 | 610,824 |
Security | Number of Shares | Value ($) |
Nature's Sunshine Products, Inc. | 15,000 | 177,750 |
Nutraceutical International Corp. * | 12,300 | 301,350 |
Oil-Dri Corp. of America | 6,887 | 216,114 |
Orchids Paper Products Co. | 11,800 | 345,858 |
Revlon, Inc., Class A * | 18,602 | 583,545 |
Synutra International, Inc. *(c) | 23,200 | 132,472 |
USANA Health Sciences, Inc. * | 9,100 | 1,170,260 |
WD-40 Co. | 22,300 | 2,131,434 |
9,962,853 | ||
Insurance 2.6% | ||
Ambac Financial Group, Inc. * | 66,900 | 1,080,435 |
American Equity Investment Life Holding Co. | 120,864 | 3,103,788 |
AMERISAFE, Inc. | 28,035 | 1,534,356 |
Argo Group International Holdings Ltd. | 42,010 | 2,626,465 |
Atlas Financial Holdings, Inc. * | 16,900 | 321,438 |
Baldwin & Lyons, Inc., Class B | 13,000 | 301,990 |
Citizens, Inc. *(c) | 80,500 | 676,200 |
CNO Financial Group, Inc. | 296,168 | 5,689,387 |
Crawford & Co., Class B | 44,000 | 264,000 |
Donegal Group, Inc., Class A | 10,400 | 147,160 |
eHealth, Inc. * | 23,600 | 282,020 |
EMC Insurance Group, Inc. | 9,300 | 232,500 |
Employers Holdings, Inc. | 44,900 | 1,188,503 |
Enstar Group Ltd. * | 13,894 | 2,192,473 |
FBL Financial Group, Inc., Class A | 13,968 | 878,587 |
Federated National Holding Co. | 20,246 | 623,273 |
Fidelity & Guaranty Life | 14,800 | 395,160 |
First American Financial Corp. | 162,900 | 6,211,377 |
Global Indemnity plc * | 10,755 | 305,550 |
Greenlight Capital Re Ltd., Class A * | 42,789 | 939,646 |
Hallmark Financial Services, Inc. * | 21,200 | 275,388 |
HCI Group, Inc. | 13,800 | 601,818 |
Heritage Insurance Holdings, Inc. * | 34,462 | 762,299 |
Horace Mann Educators Corp. | 59,578 | 2,039,951 |
Independence Holding Co. | 11,248 | 152,523 |
Infinity Property & Casualty Corp. | 16,592 | 1,335,988 |
James River Group Holdings Ltd. | 18,600 | 547,398 |
Kansas City Life Insurance Co. | 5,700 | 279,471 |
Kemper Corp. | 65,014 | 2,322,300 |
Maiden Holdings Ltd. | 76,900 | 1,195,795 |
MBIA, Inc. * | 212,784 | 1,598,008 |
National General Holdings Corp. | 58,700 | 1,156,977 |
National Interstate Corp. | 12,498 | 358,693 |
National Western Life Group, Inc., Class A | 3,494 | 901,417 |
OneBeacon Insurance Group Ltd., Class A | 33,400 | 480,626 |
Patriot National, Inc. * | 15,800 | 200,660 |
Primerica, Inc. | 77,500 | 3,691,325 |
RLI Corp. | 64,420 | 3,919,957 |
Safety Insurance Group, Inc. | 22,770 | 1,319,522 |
Selective Insurance Group, Inc. | 84,514 | 3,083,916 |
State Auto Financial Corp. | 24,726 | 589,715 |
State National Cos., Inc. | 46,500 | 419,895 |
Stewart Information Services Corp. | 34,100 | 1,369,797 |
Symetra Financial Corp. | 110,600 | 3,509,338 |
Security | Number of Shares | Value ($) |
The Navigators Group, Inc. * | 16,470 | 1,405,714 |
Third Point Reinsurance Ltd. * | 128,260 | 1,753,314 |
United Fire Group, Inc. | 32,300 | 1,201,237 |
United Insurance Holdings Corp. | 24,400 | 403,088 |
Universal Insurance Holdings, Inc. | 48,122 | 1,518,249 |
67,388,687 | ||
Materials 3.8% | ||
A. Schulman, Inc. | 45,609 | 1,636,907 |
AEP Industries, Inc. * | 5,800 | 464,000 |
AK Steel Holding Corp. *(c) | 262,900 | 759,781 |
American Vanguard Corp. | 40,900 | 548,469 |
Axiall Corp. | 108,121 | 2,189,450 |
Balchem Corp. | 46,900 | 3,203,270 |
Berry Plastics Group, Inc. * | 180,257 | 6,038,609 |
Boise Cascade Co. * | 60,800 | 1,819,744 |
Calgon Carbon Corp. | 79,785 | 1,372,302 |
Carpenter Technology Corp. | 75,144 | 2,503,047 |
Century Aluminum Co. * | 73,400 | 265,708 |
Chase Corp. | 10,300 | 457,423 |
Chemtura Corp. * | 101,185 | 3,231,849 |
Clearwater Paper Corp. * | 30,000 | 1,512,900 |
Cliffs Natural Resources, Inc. (c) | 227,759 | 628,615 |
Coeur Mining, Inc. * | 205,013 | 553,535 |
Commercial Metals Co. | 172,600 | 2,480,262 |
Core Molding Technologies, Inc. * | 11,000 | 220,440 |
Deltic Timber Corp. | 16,721 | 1,036,033 |
Ferro Corp. * | 105,100 | 1,312,699 |
Flotek Industries, Inc. * | 78,900 | 1,428,090 |
FutureFuel Corp. | 40,400 | 622,564 |
Globe Specialty Metals, Inc. | 94,500 | 1,192,590 |
Greif, Inc., Class A | 44,194 | 1,448,679 |
H.B. Fuller Co. | 74,694 | 2,837,625 |
Handy & Harman Ltd. * | 4,800 | 114,000 |
Hawkins, Inc. | 15,500 | 642,320 |
Haynes International, Inc. | 17,525 | 691,361 |
Headwaters, Inc. * | 110,000 | 2,260,500 |
Hecla Mining Co. | 545,640 | 1,129,475 |
Horsehead Holding Corp. *(c) | 83,900 | 238,276 |
Innophos Holdings, Inc. | 30,300 | 1,287,447 |
Innospec, Inc. | 35,600 | 1,966,544 |
Intrepid Potash, Inc. * | 89,300 | 344,698 |
Kaiser Aluminum Corp. | 26,243 | 2,133,293 |
KapStone Paper & Packaging Corp. | 127,503 | 2,773,190 |
KMG Chemicals, Inc. | 12,300 | 258,792 |
Koppers Holdings, Inc. | 30,900 | 585,864 |
Kraton Performance Polymers, Inc. * | 44,835 | 914,186 |
Kronos Worldwide, Inc. | 30,700 | 242,530 |
Louisiana-Pacific Corp. * | 215,472 | 3,805,236 |
LSB Industries, Inc. * | 28,000 | 438,200 |
Materion Corp. | 31,829 | 959,644 |
Minerals Technologies, Inc. | 52,522 | 3,095,647 |
Myers Industries, Inc. | 34,900 | 544,789 |
Neenah Paper, Inc. | 24,753 | 1,668,600 |
Olin Corp. | 246,648 | 4,730,709 |
Olympic Steel, Inc. | 12,200 | 116,754 |
OMNOVA Solutions, Inc. * | 65,700 | 471,726 |
P.H. Glatfelter Co. | 63,800 | 1,237,720 |
PolyOne Corp. | 135,876 | 4,543,693 |
Security | Number of Shares | Value ($) |
Quaker Chemical Corp. | 20,100 | 1,595,538 |
Rayonier Advanced Materials, Inc. | 55,842 | 514,863 |
Real Industry, Inc. * | 32,714 | 310,783 |
Rentech, Inc. * | 44,190 | 258,512 |
Ryerson Holding Corp. *(c) | 14,000 | 81,900 |
Schnitzer Steel Industries, Inc., Class A | 37,800 | 637,308 |
Schweitzer-Mauduit International, Inc. | 44,700 | 1,735,254 |
Senomyx, Inc. * | 62,400 | 308,880 |
Sensient Technologies Corp. | 70,614 | 4,608,976 |
Stepan Co. | 28,500 | 1,508,505 |
Stillwater Mining Co. * | 182,900 | 1,708,286 |
Summit Materials, Inc., Class A * | 35,015 | 737,416 |
SunCoke Energy, Inc. | 96,800 | 480,128 |
TimkenSteel Corp. | 63,644 | 677,172 |
Trecora Resources * | 27,400 | 390,176 |
Tredegar Corp. | 35,100 | 500,526 |
Trinseo S.A. *(c) | 15,600 | 506,220 |
Tronox Ltd., Class A | 90,200 | 560,142 |
United States Lime & Minerals, Inc. | 2,700 | 131,895 |
US Concrete, Inc. * | 21,700 | 1,203,482 |
Valhi, Inc. (c) | 25,000 | 61,750 |
Wausau Paper Corp. | 58,500 | 597,285 |
Worthington Industries, Inc. | 73,817 | 2,266,182 |
98,340,964 | ||
Media 1.6% | ||
AMC Entertainment Holdings, Inc., Class A | 31,500 | 862,155 |
Carmike Cinemas, Inc. * | 37,900 | 970,619 |
Central European Media Enterprises Ltd., Class A *(c) | 109,100 | 235,656 |
Crown Media Holdings, Inc., Class A * | 46,700 | 270,393 |
Cumulus Media, Inc., Class A * | 197,200 | 90,535 |
Daily Journal Corp. * | 2,000 | 409,400 |
DreamWorks Animation SKG, Inc., Class A * | 115,430 | 2,336,303 |
Entercom Communications Corp., Class A * | 43,000 | 474,720 |
Entravision Communications Corp., Class A | 98,600 | 863,736 |
Eros International plc *(c) | 41,690 | 465,677 |
Global Eagle Entertainment, Inc. * | 65,900 | 877,788 |
Gray Television, Inc. * | 92,193 | 1,464,947 |
Harte-Hanks, Inc. | 75,416 | 320,518 |
Hemisphere Media Group, Inc. *(c) | 12,300 | 166,419 |
IMAX Corp. * | 92,000 | 3,531,880 |
Journal Media Group, Inc. | 34,919 | 427,409 |
Loral Space & Communications, Inc. * | 20,500 | 916,555 |
Martha Stewart Living Omnimedia, Inc., Class A * | 58,700 | 354,548 |
MDC Partners, Inc., Class A | 64,480 | 1,339,894 |
Media General, Inc. * | 143,286 | 2,129,230 |
Meredith Corp. | 55,600 | 2,614,312 |
National CineMedia, Inc. | 86,800 | 1,232,560 |
New Media Investment Group, Inc. | 64,082 | 1,031,720 |
Security | Number of Shares | Value ($) |
Nexstar Broadcasting Group, Inc., Class A | 47,055 | 2,504,738 |
Reading International, Inc., Class A * | 23,000 | 356,500 |
Rentrak Corp. *(c) | 20,391 | 1,125,175 |
Saga Communications, Inc., Class A | 6,400 | 275,328 |
Scholastic Corp. | 38,469 | 1,572,228 |
SFX Entertainment, Inc. *(c) | 64,800 | 60,270 |
Sinclair Broadcast Group, Inc., Class A | 96,902 | 2,908,029 |
Sizmek, Inc. * | 36,700 | 217,631 |
The E.W. Scripps Co., Class A | 89,271 | 1,969,318 |
The New York Times Co., Class A | 200,751 | 2,665,973 |
Time, Inc. | 160,186 | 2,976,256 |
Townsquare Media, Inc., Class A * | 10,100 | 110,696 |
Tribune Publishing Co. | 35,717 | 337,169 |
World Wrestling Entertainment, Inc., Class A (c) | 48,000 | 855,840 |
41,322,125 | ||
Pharmaceuticals, Biotechnology & Life Sciences 8.3% | ||
Abeona Therapeutics, Inc. *(c) | 14,621 | 57,753 |
ACADIA Pharmaceuticals, Inc. * | 123,016 | 4,283,417 |
Accelerate Diagnostics, Inc. *(c) | 33,300 | 558,441 |
Acceleron Pharma, Inc. * | 34,327 | 1,071,346 |
Achillion Pharmaceuticals, Inc. * | 170,889 | 1,336,352 |
Acorda Therapeutics, Inc. * | 64,939 | 2,340,402 |
Adamas Pharmaceuticals, Inc. * | 14,272 | 210,655 |
Aduro Biotech, Inc. *(c) | 11,881 | 320,906 |
Advaxis, Inc. *(c) | 44,111 | 489,191 |
Aegerion Pharmaceuticals, Inc. *(c) | 43,100 | 632,708 |
Aerie Pharmaceuticals, Inc. * | 29,844 | 680,742 |
Affimed N.V. * | 22,114 | 140,203 |
Affymetrix, Inc. * | 110,900 | 1,020,280 |
Agenus, Inc. * | 110,054 | 501,846 |
Agile Therapeutics, Inc. *(c) | 13,462 | 106,888 |
Aimmune Therapeutics, Inc. * | 15,600 | 234,780 |
Akebia Therapeutics, Inc. * | 34,547 | 308,159 |
Albany Molecular Research, Inc. * | 40,600 | 732,424 |
Alder Biopharmaceuticals, Inc. * | 33,946 | 1,085,593 |
Alimera Sciences, Inc. *(c) | 45,500 | 136,955 |
AMAG Pharmaceuticals, Inc. * | 50,131 | 2,005,240 |
Amicus Therapeutics, Inc. * | 176,904 | 1,326,780 |
Amphastar Pharmaceuticals, Inc. * | 42,926 | 508,244 |
Anacor Pharmaceuticals, Inc. * | 62,396 | 7,013,934 |
ANI Pharmaceuticals, Inc. * | 10,100 | 422,584 |
Anthera Pharmaceuticals, Inc. * | 51,939 | 299,688 |
Applied Genetic Technologies Corp. * | 17,400 | 208,800 |
Aratana Therapeutics, Inc. * | 43,300 | 302,667 |
Ardelyx, Inc. *(c) | 23,940 | 392,137 |
Arena Pharmaceuticals, Inc. * | 365,000 | 689,850 |
ARIAD Pharmaceuticals, Inc. * | 241,800 | 1,653,912 |
Array BioPharma, Inc. * | 220,479 | 1,128,852 |
Arrowhead Research Corp. *(c) | 98,400 | 506,760 |
Assembly Biosciences, Inc. * | 20,668 | 198,413 |
Asterias Biotherapeutics, Inc. *(c) | 15,125 | 69,273 |
Atara Biotherapeutics, Inc. * | 24,043 | 619,588 |
aTyr Pharma, Inc. *(c) | 8,518 | 106,134 |
Security | Number of Shares | Value ($) |
Avalanche Biotechnologies, Inc. * | 28,209 | 237,802 |
Axovant Sciences Ltd. *(c) | 19,600 | 238,924 |
Bellicum Pharmaceuticals, Inc. * | 14,200 | 177,642 |
BioCryst Pharmaceuticals, Inc. * | 102,800 | 924,172 |
BioDelivery Sciences International, Inc. *(c) | 79,500 | 427,710 |
BioSpecifics Technologies Corp. * | 8,000 | 467,280 |
BioTime, Inc. *(c) | 83,500 | 314,795 |
Blueprint Medicines Corp. * | 13,264 | 266,474 |
Calithera Biosciences, Inc. *(c) | 19,000 | 162,260 |
Cambrex Corp. * | 47,100 | 2,165,187 |
Cara Therapeutics, Inc. * | 27,617 | 391,333 |
Carbylan Therapeutics, Inc. * | 15,751 | 56,704 |
Catabasis Pharmaceuticals, Inc. *(c) | 5,500 | 38,390 |
Catalent, Inc. * | 122,399 | 3,253,365 |
Catalyst Pharmaceuticals, Inc. * | 107,345 | 339,210 |
Celldex Therapeutics, Inc. * | 147,500 | 1,778,850 |
Cellular Biomedicine Group, Inc. *(c) | 14,309 | 300,489 |
Cempra, Inc. *(c) | 46,278 | 1,027,372 |
Cepheid * | 108,500 | 3,623,900 |
ChemoCentryx, Inc. *(c) | 35,000 | 244,650 |
Chiasma, Inc. *(c) | 10,000 | 227,400 |
Chimerix, Inc. * | 69,186 | 2,710,707 |
Cidara Therapeutics, Inc. * | 4,559 | 62,094 |
Clovis Oncology, Inc. * | 42,000 | 4,196,220 |
Coherus Biosciences, Inc. * | 33,961 | 945,814 |
Collegium Pharmaceutical, Inc. *(c) | 8,736 | 160,480 |
Concert Pharmaceuticals, Inc. * | 21,722 | 493,307 |
Corcept Therapeutics, Inc. * | 86,506 | 319,207 |
Corium International, Inc. *(c) | 12,013 | 83,370 |
CorMedix, Inc. *(c) | 45,377 | 115,258 |
CTI BioPharma, Corp. *(c) | 297,500 | 395,675 |
Curis, Inc. * | 158,654 | 323,654 |
Cytokinetics, Inc. * | 45,900 | 395,199 |
CytRx Corp. *(c) | 81,800 | 227,404 |
Depomed, Inc. * | 86,900 | 1,520,750 |
Dermira, Inc. * | 24,700 | 666,653 |
Dicerna Pharmaceuticals, Inc. * | 21,814 | 218,576 |
Durect Corp. * | 163,276 | 333,083 |
Dyax Corp. * | 221,213 | 6,089,994 |
Dynavax Technologies Corp. * | 52,100 | 1,183,191 |
Eagle Pharmaceuticals, Inc. *(c) | 12,424 | 791,533 |
Emergent Biosolutions, Inc. * | 43,700 | 1,404,955 |
Enanta Pharmaceuticals, Inc. * | 22,222 | 624,216 |
Endocyte, Inc. *(c) | 50,400 | 259,056 |
Epizyme, Inc. *(c) | 41,759 | 546,625 |
Esperion Therapeutics, Inc. *(c) | 18,670 | 448,080 |
Exact Sciences Corp. *(c) | 139,762 | 1,164,217 |
Exelixis, Inc. *(c) | 326,972 | 1,968,371 |
Fibrocell Science, Inc. *(c) | 34,944 | 133,486 |
FibroGen, Inc. * | 69,009 | 1,608,600 |
Five Prime Therapeutics, Inc. * | 33,300 | 1,070,595 |
Flex Pharma, Inc. *(c) | 9,700 | 109,901 |
Flexion Therapeutics, Inc. * | 19,943 | 328,661 |
Fluidigm Corp. * | 43,100 | 465,911 |
Foamix Pharmaceuticals Ltd. * | 32,336 | 230,556 |
Foundation Medicine, Inc. *(c) | 20,500 | 459,610 |
Galena Biopharma, Inc. *(c) | 265,000 | 445,200 |
Genocea Biosciences, Inc. * | 26,625 | 127,534 |
Security | Number of Shares | Value ($) |
Genomic Health, Inc. * | 22,700 | 474,884 |
Geron Corp. * | 231,200 | 802,264 |
Global Blood Therapeutics, Inc. * | 9,600 | 447,648 |
Halozyme Therapeutics, Inc. * | 154,500 | 2,417,925 |
Harvard Bioscience, Inc. * | 74,929 | 220,291 |
Heron Therapeutics, Inc. *(c) | 43,660 | 1,197,157 |
Heska Corp. * | 8,091 | 248,879 |
Idera Pharmaceuticals, Inc. *(c) | 151,729 | 418,772 |
Ignyta, Inc. * | 35,845 | 367,053 |
Immune Design, Corp. * | 16,243 | 211,159 |
ImmunoGen, Inc. * | 128,000 | 1,497,600 |
Immunomedics, Inc. *(c) | 175,000 | 523,250 |
Impax Laboratories, Inc. * | 105,400 | 3,650,002 |
INC Research Holdings, Inc., Class A * | 19,400 | 809,174 |
Infinity Pharmaceuticals, Inc. * | 68,300 | 706,905 |
Inovio Pharmaceuticals, Inc. *(c) | 120,362 | 761,891 |
Insmed, Inc. * | 92,314 | 1,831,510 |
Insys Therapeutics, Inc. * | 37,079 | 955,155 |
Intersect ENT, Inc. * | 26,368 | 505,211 |
Intra-Cellular Therapies, Inc. * | 31,300 | 1,497,705 |
Invitae Corp. *(c) | 14,200 | 108,204 |
Ironwood Pharmaceuticals, Inc. * | 196,700 | 2,234,512 |
Karyopharm Therapeutics, Inc. *(c) | 33,263 | 444,061 |
Keryx Biopharmaceuticals, Inc. *(c) | 150,634 | 674,840 |
Kite Pharma, Inc. *(c) | 43,742 | 2,976,643 |
La Jolla Pharmaceutical Co. * | 21,579 | 539,259 |
Lannett Co., Inc. *(c) | 41,300 | 1,849,001 |
Lexicon Pharmaceuticals, Inc. *(c) | 58,700 | 558,237 |
Ligand Pharmaceuticals, Inc. * | 25,843 | 2,334,915 |
Lion Biotechnologies, Inc. * | 64,872 | 419,722 |
Loxo Oncology, Inc. * | 8,900 | 208,082 |
Luminex Corp. * | 70,400 | 1,281,280 |
MacroGenics, Inc. * | 49,449 | 1,536,380 |
MannKind Corp. *(c) | 355,984 | 1,178,307 |
Medgenics, Inc. *(c) | 23,712 | 155,314 |
Merrimack Pharmaceuticals, Inc. * | 166,400 | 1,554,176 |
MiMedx Group, Inc. *(c) | 156,150 | 1,136,772 |
Mirati Therapeutics, Inc. * | 18,048 | 638,538 |
Momenta Pharmaceuticals, Inc. * | 87,686 | 1,438,927 |
Myriad Genetics, Inc. *(c) | 102,586 | 4,141,397 |
NanoString Technologies, Inc. * | 24,100 | 349,691 |
NantKwest, Inc. *(c) | 8,400 | 99,960 |
Natera, Inc. * | 13,000 | 107,250 |
Navidea Biopharmaceuticals, Inc. *(c) | 221,100 | 446,622 |
Nektar Therapeutics * | 194,571 | 2,309,558 |
NeoGenomics, Inc. * | 89,888 | 633,710 |
Neos Therapeutics, Inc. * | 7,600 | 107,616 |
Neurocrine Biosciences, Inc. * | 129,903 | 6,376,938 |
NewLink Genetics Corp. * | 33,100 | 1,266,737 |
Nivalis Therapeutics, Inc. * | 6,800 | 54,536 |
Northwest Biotherapeutics, Inc. *(c) | 70,700 | 345,016 |
Novavax, Inc. * | 411,321 | 2,776,417 |
Ocata Therapeutics, Inc. *(c) | 48,125 | 211,750 |
Ocular Therapeutix, Inc. * | 18,570 | 160,259 |
Omeros Corp. *(c) | 57,100 | 715,463 |
OncoMed Pharmaceuticals, Inc. *(c) | 24,500 | 490,245 |
Oncothyreon, Inc. * | 151,709 | 449,059 |
Security | Number of Shares | Value ($) |
Ophthotech Corp. * | 37,643 | 1,879,515 |
Orexigen Therapeutics, Inc. *(c) | 151,187 | 459,608 |
Organovo Holdings, Inc. *(c) | 154,441 | 464,867 |
Osiris Therapeutics, Inc. (c) | 30,400 | 517,712 |
Otonomy, Inc. * | 21,039 | 455,284 |
OvaScience, Inc. *(c) | 33,901 | 439,696 |
Pacific Biosciences of California, Inc. *(c) | 85,600 | 607,760 |
Pacira Pharmaceuticals, Inc. * | 53,400 | 2,667,330 |
Paratek Pharmaceuticals, Inc. * | 17,408 | 302,203 |
PAREXEL International Corp. * | 82,880 | 5,231,386 |
PDL BioPharma, Inc. | 239,600 | 1,097,368 |
Peregrine Pharmaceuticals, Inc. *(c) | 255,100 | 285,712 |
Pernix Therapeutics Holdings, Inc. *(c) | 48,800 | 137,128 |
Pfenex, Inc. * | 23,397 | 423,018 |
Phibro Animal Health Corp., Class A | 25,500 | 850,680 |
Portola Pharmaceuticals, Inc. * | 70,200 | 3,342,222 |
POZEN, Inc. *(c) | 35,400 | 207,090 |
PRA Health Sciences, Inc. * | 30,500 | 1,068,720 |
Prestige Brands Holdings, Inc. * | 80,900 | 3,964,909 |
Progenics Pharmaceuticals, Inc. * | 106,000 | 778,040 |
Proteon Therapeutics, Inc. * | 10,998 | 150,673 |
Prothena Corp. plc * | 45,853 | 2,361,888 |
PTC Therapeutics, Inc. * | 48,936 | 1,217,038 |
Radius Health, Inc. * | 50,314 | 3,231,668 |
Raptor Pharmaceutical Corp. * | 119,565 | 651,629 |
Regulus Therapeutics, Inc. *(c) | 39,681 | 263,879 |
Relypsa, Inc. * | 46,624 | 745,518 |
Repligen Corp. * | 49,100 | 1,632,084 |
Retrophin, Inc. * | 55,293 | 1,057,755 |
Revance Therapeutics, Inc. *(c) | 22,308 | 873,804 |
Rigel Pharmaceuticals, Inc. * | 153,400 | 389,636 |
Sage Therapeutics, Inc. * | 19,895 | 999,326 |
Sagent Pharmaceuticals, Inc. * | 29,769 | 500,417 |
Sangamo BioSciences, Inc. * | 99,700 | 702,885 |
Sarepta Therapeutics, Inc. * | 60,900 | 1,465,254 |
SciClone Pharmaceuticals, Inc. * | 78,000 | 594,360 |
Sequenom, Inc. *(c) | 166,100 | 290,675 |
Seres Therapeutics, Inc. *(c) | 12,000 | 355,680 |
Sorrento Therapeutics, Inc. * | 39,855 | 344,347 |
Spark Therapeutics, Inc. *(c) | 12,500 | 673,750 |
Spectrum Pharmaceuticals, Inc. * | 114,300 | 595,503 |
Stemline Therapeutics, Inc. * | 28,000 | 248,920 |
Sucampo Pharmaceuticals, Inc., Class A * | 40,218 | 778,620 |
Supernus Pharmaceuticals, Inc. * | 50,200 | 828,300 |
Synergy Pharmaceuticals, Inc. *(c) | 140,600 | 901,246 |
Synta Pharmaceuticals Corp. *(c) | 191,800 | 128,506 |
T2 Biosystems, Inc. *(c) | 9,200 | 102,304 |
Teligent, Inc. *(c) | 58,900 | 428,203 |
TESARO, Inc. * | 35,100 | 1,595,997 |
Tetraphase Pharmaceuticals, Inc. * | 52,053 | 470,039 |
TG Therapeutics, Inc. * | 59,050 | 730,449 |
The Medicines Co. * | 97,228 | 3,329,087 |
TherapeuticsMD, Inc. * | 200,755 | 1,178,432 |
Theravance Biopharma, Inc. *(c) | 34,500 | 515,775 |
Theravance, Inc. (c) | 130,100 | 1,142,278 |
Threshold Pharmaceuticals, Inc. * | 88,794 | 338,305 |
Tobira Therapeutics, Inc. *(c) | 4,229 | 42,628 |
Security | Number of Shares | Value ($) |
Tokai Pharmaceuticals, Inc. *(c) | 17,900 | 197,795 |
Trevena, Inc. * | 50,234 | 483,251 |
Trovagene, Inc. *(c) | 35,347 | 152,346 |
Ultragenyx Pharmaceutical, Inc. * | 57,341 | 5,696,828 |
Vanda Pharmaceuticals, Inc. *(c) | 60,600 | 650,844 |
Verastem, Inc. * | 47,100 | 86,664 |
Versartis, Inc. *(c) | 31,735 | 327,823 |
Vitae Pharmaceuticals, Inc. * | 18,478 | 219,519 |
Vital Therapies, Inc. *(c) | 23,347 | 181,406 |
VIVUS, Inc. *(c) | 190,400 | 239,904 |
vTv Therapeutics, Inc., Class A * | 7,000 | 51,380 |
XBiotech, Inc. *(c) | 5,538 | 78,529 |
Xencor, Inc. * | 40,028 | 433,503 |
XenoPort, Inc. * | 98,100 | 599,391 |
XOMA Corp. *(c) | 150,400 | 183,488 |
Zafgen, Inc. * | 23,672 | 227,961 |
ZIOPHARM Oncology, Inc. *(c) | 166,564 | 1,897,164 |
Zogenix, Inc. * | 40,225 | 474,253 |
ZS Pharma, Inc. * | 28,002 | 1,820,410 |
Zynerba Pharmaceuticals, Inc. *(c) | 4,700 | 59,173 |
215,946,116 | ||
Real Estate 9.6% | ||
Acadia Realty Trust | 102,257 | 3,363,233 |
AG Mortgage Investment Trust, Inc. | 41,300 | 628,173 |
Agree Realty Corp. | 25,500 | 825,690 |
Alexander & Baldwin, Inc. | 72,560 | 2,738,414 |
Alexander's, Inc. | 3,041 | 1,200,861 |
Altisource Asset Management Corp. * | 1,385 | 34,071 |
Altisource Portfolio Solutions S.A. * | 19,887 | 533,171 |
Altisource Residential Corp. | 87,800 | 1,263,442 |
American Assets Trust, Inc. | 55,100 | 2,323,016 |
American Capital Mortgage Investment Corp. | 76,700 | 1,112,917 |
American Residential Properties, Inc. | 47,200 | 782,104 |
Anworth Mortgage Asset Corp. | 147,000 | 701,190 |
Apollo Commercial Real Estate Finance, Inc. | 87,200 | 1,448,392 |
Apollo Residential Mortgage, Inc. | 50,875 | 654,761 |
Ares Commercial Real Estate Corp. | 41,900 | 517,046 |
Armada Hoffler Properties, Inc. | 40,500 | 434,970 |
ARMOUR Residential REIT, Inc. | 63,829 | 1,309,771 |
Ashford Hospitality Prime, Inc. | 42,487 | 624,559 |
Ashford Hospitality Trust, Inc. | 128,682 | 885,332 |
AV Homes, Inc. * | 24,800 | 328,352 |
Bluerock Residential Growth REIT, Inc. | 21,808 | 255,590 |
Campus Crest Communities, Inc. | 112,200 | 743,886 |
Capstead Mortgage Corp. | 145,829 | 1,407,250 |
CareTrust REIT, Inc. | 67,965 | 769,364 |
CatchMark Timber Trust, Inc., Class A | 52,409 | 573,879 |
Cedar Realty Trust, Inc. | 119,200 | 833,208 |
Chambers Street Properties | 345,419 | 2,445,567 |
Chatham Lodging Trust | 55,134 | 1,262,017 |
Chesapeake Lodging Trust | 86,985 | 2,395,567 |
Security | Number of Shares | Value ($) |
Colony Capital, Inc., Class A | 163,826 | 3,332,221 |
Consolidated-Tomoka Land Co. | 7,600 | 389,500 |
CorEnergy Infrastructure Trust, Inc. | 97,500 | 498,225 |
CoreSite Realty Corp. | 36,400 | 2,000,180 |
Cousins Properties, Inc. | 326,001 | 3,273,050 |
CubeSmart | 247,243 | 6,878,300 |
CyrusOne, Inc. | 100,404 | 3,542,253 |
CYS Investments, Inc. | 246,361 | 1,901,907 |
DCT Industrial Trust, Inc. | 133,626 | 4,960,197 |
DiamondRock Hospitality Co. | 303,517 | 3,545,079 |
DuPont Fabros Technology, Inc. | 95,424 | 3,062,156 |
Dynex Capital, Inc. | 77,200 | 511,836 |
Easterly Government Properties, Inc. | 21,600 | 377,568 |
EastGroup Properties, Inc. | 48,090 | 2,700,734 |
Education Realty Trust, Inc. | 72,713 | 2,611,124 |
EPR Properties | 84,900 | 4,823,169 |
Equity One, Inc. | 111,931 | 2,975,126 |
FelCor Lodging Trust, Inc. | 215,913 | 1,738,100 |
First Industrial Realty Trust, Inc. | 163,237 | 3,538,978 |
First Potomac Realty Trust | 90,700 | 1,069,353 |
Forestar Group, Inc. * | 49,700 | 703,255 |
Franklin Street Properties Corp. | 134,065 | 1,396,957 |
FRP Holdings, Inc. * | 8,700 | 287,100 |
Getty Realty Corp. | 39,242 | 662,405 |
Gladstone Commercial Corp. | 34,300 | 549,143 |
Government Properties Income Trust | 100,847 | 1,641,789 |
Gramercy Property Trust, Inc. | 86,322 | 1,957,783 |
Great Ajax Corp. | 9,400 | 121,542 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 48,845 | 879,699 |
Hatteras Financial Corp. | 145,051 | 2,075,680 |
Healthcare Realty Trust, Inc. (c) | 147,981 | 3,900,779 |
Hersha Hospitality Trust | 72,925 | 1,750,929 |
Highwoods Properties, Inc. | 138,207 | 6,005,094 |
Hudson Pacific Properties, Inc. | 109,311 | 3,123,015 |
Independence Realty Trust, Inc. | 39,209 | 307,399 |
InfraREIT, Inc. | 34,700 | 828,636 |
Inland Real Estate Corp. | 133,336 | 1,180,024 |
Invesco Mortgage Capital, Inc. | 188,006 | 2,265,472 |
Investors Real Estate Trust | 187,002 | 1,518,456 |
iStar, Inc. * | 131,700 | 1,704,198 |
Kennedy-Wilson Holdings, Inc. | 140,587 | 3,447,193 |
Kite Realty Group Trust | 126,439 | 3,339,254 |
Ladder Capital Corp. | 55,962 | 798,018 |
LaSalle Hotel Properties | 168,379 | 4,952,026 |
Lexington Realty Trust | 314,774 | 2,782,602 |
LTC Properties, Inc. | 52,651 | 2,256,095 |
Mack-Cali Realty Corp. | 130,100 | 2,830,976 |
Marcus & Millichap, Inc. * | 19,579 | 853,057 |
Medical Properties Trust, Inc. | 353,767 | 3,997,567 |
Monmouth Real Estate Investment Corp. | 84,500 | 879,645 |
Monogram Residential Trust, Inc. | 247,724 | 2,442,559 |
National Health Investors, Inc. | 56,468 | 3,316,930 |
National Storage Affiliates Trust | 33,821 | 508,668 |
New Residential Investment Corp. | 346,497 | 4,203,009 |
New Senior Investment Group, Inc. | 133,669 | 1,339,363 |
New York Mortgage Trust, Inc. (c) | 175,200 | 995,136 |
Security | Number of Shares | Value ($) |
New York REIT, Inc. | 249,088 | 2,839,603 |
NexPoint Residential Trust, Inc. | 30,669 | 404,217 |
One Liberty Properties, Inc. | 18,700 | 440,572 |
Orchid Island Capital, Inc. (c) | 36,959 | 328,196 |
Parkway Properties, Inc. | 128,593 | 2,151,361 |
Pebblebrook Hotel Trust | 108,000 | 3,691,440 |
Pennsylvania Real Estate Investment Trust | 106,167 | 2,386,634 |
PennyMac Mortgage Investment Trust | 109,021 | 1,593,887 |
Physicians Realty Trust | 101,150 | 1,616,377 |
Potlatch Corp. | 60,403 | 1,886,990 |
Preferred Apartment Communities, Inc., Class A | 26,197 | 286,857 |
PS Business Parks, Inc. | 29,938 | 2,568,381 |
QTS Realty Trust, Inc., Class A | 41,439 | 1,782,291 |
RAIT Financial Trust | 154,400 | 748,840 |
Ramco-Gershenson Properties Trust | 120,921 | 2,031,473 |
RE/MAX Holdings, Inc., Class A | 16,800 | 632,856 |
Redwood Trust, Inc. | 123,500 | 1,640,080 |
Resource Capital Corp. | 49,037 | 629,635 |
Retail Opportunity Investments Corp. | 150,247 | 2,723,978 |
Rexford Industrial Realty, Inc. | 88,116 | 1,334,957 |
RLJ Lodging Trust | 195,135 | 4,895,937 |
Rouse Properties, Inc. | 54,500 | 958,655 |
Ryman Hospitality Properties, Inc. | 64,985 | 3,418,211 |
Sabra Health Care REIT, Inc. | 94,996 | 2,154,509 |
Saul Centers, Inc. | 13,400 | 751,338 |
Select Income REIT | 94,928 | 1,917,546 |
Silver Bay Realty Trust Corp. | 56,433 | 914,215 |
Sovran Self Storage, Inc. | 53,417 | 5,334,756 |
STAG Industrial, Inc. | 94,500 | 1,939,140 |
Starwood Waypoint Residential Trust | 57,400 | 1,412,040 |
STORE Capital Corp. | 56,600 | 1,283,122 |
Strategic Hotels & Resorts, Inc. * | 407,984 | 5,752,574 |
Summit Hotel Properties, Inc. | 125,500 | 1,641,540 |
Sun Communities, Inc. | 70,536 | 4,727,323 |
Sunstone Hotel Investors, Inc. | 308,208 | 4,456,688 |
Tejon Ranch Co. * | 19,092 | 430,143 |
Terreno Realty Corp. | 62,600 | 1,400,988 |
The Geo Group, Inc. | 109,980 | 3,549,055 |
The St. Joe Co. *(c) | 99,000 | 1,962,180 |
UMH Properties, Inc. | 31,900 | 315,491 |
United Development Funding IV (c) | 44,425 | 764,110 |
Universal Health Realty Income Trust | 19,444 | 966,172 |
Urban Edge Properties | 132,087 | 3,135,745 |
Urstadt Biddle Properties, Inc., Class A | 47,174 | 948,197 |
Washington Real Estate Investment Trust | 99,282 | 2,681,607 |
Western Asset Mortgage Capital Corp. (c) | 59,656 | 681,272 |
Whitestone REIT | 41,700 | 515,412 |
Xenia Hotels & Resorts, Inc. | 170,562 | 2,957,545 |
251,510,438 |
Security | Number of Shares | Value ($) |
Retailing 4.3% | ||
1-800-Flowers.com, Inc., Class A * | 34,800 | 345,564 |
Abercrombie & Fitch Co., Class A | 103,963 | 2,202,976 |
America's Car-Mart, Inc. * | 11,500 | 393,760 |
American Eagle Outfitters, Inc. | 293,215 | 4,480,325 |
Asbury Automotive Group, Inc. * | 40,485 | 3,206,412 |
Ascena Retail Group, Inc. * | 259,463 | 3,456,047 |
Barnes & Noble Education, Inc. * | 46,395 | 684,326 |
Barnes & Noble, Inc. | 73,410 | 953,596 |
bebe stores, Inc. (c) | 51,449 | 57,108 |
Big 5 Sporting Goods Corp. | 34,384 | 314,614 |
Big Lots, Inc. | 73,300 | 3,379,130 |
Blue Nile, Inc. * | 19,000 | 647,900 |
Boot Barn Holdings, Inc. * | 21,411 | 321,165 |
Build-A-Bear Workshop, Inc. * | 18,100 | 281,636 |
Burlington Stores, Inc. * | 113,791 | 5,471,071 |
Caleres, Inc. | 68,275 | 2,086,484 |
Chico's FAS, Inc. | 212,351 | 2,934,691 |
Christopher & Banks Corp. * | 51,800 | 75,628 |
Citi Trends, Inc. | 24,846 | 660,158 |
Conn's, Inc. *(c) | 40,600 | 770,182 |
Core-Mark Holding Co., Inc. | 34,641 | 2,815,967 |
Destination XL Group, Inc. * | 56,400 | 329,376 |
Etsy, Inc. *(c) | 35,663 | 388,727 |
EVINE Live, Inc. * | 56,000 | 144,480 |
Express, Inc. * | 124,098 | 2,395,091 |
Fenix Parts, Inc. *(c) | 27,427 | 215,851 |
Five Below, Inc. * | 79,600 | 2,733,464 |
Francesca's Holdings Corp. * | 62,800 | 892,388 |
Fred's, Inc., Class A | 52,800 | 730,224 |
FTD Cos., Inc. * | 28,097 | 795,707 |
Genesco, Inc. * | 36,744 | 2,302,012 |
Group 1 Automotive, Inc. | 35,300 | 3,069,335 |
Guess?, Inc. | 94,900 | 1,997,645 |
Haverty Furniture Cos., Inc. | 30,300 | 709,323 |
Hibbett Sports, Inc. * | 37,575 | 1,283,562 |
HSN, Inc. | 49,555 | 3,064,977 |
Kirkland's, Inc. | 27,800 | 639,122 |
Lands' End, Inc. *(c) | 24,200 | 597,256 |
Liberty TripAdvisor Holdings, Inc., Class A * | 112,911 | 3,521,694 |
Lithia Motors, Inc., Class A | 33,937 | 3,983,864 |
Lumber Liquidators Holdings, Inc. *(c) | 39,398 | 544,480 |
MarineMax, Inc. * | 37,700 | 595,660 |
Mattress Firm Holding Corp. *(c) | 29,616 | 1,260,753 |
Monro Muffler Brake, Inc. | 46,546 | 3,452,317 |
Nutrisystem, Inc. | 39,948 | 923,997 |
Ollie's Bargain Outlet Holdings, Inc. * | 11,900 | 188,615 |
Outerwall, Inc. (c) | 28,700 | 1,722,000 |
Overstock.com, Inc. * | 15,500 | 242,730 |
Party City Holdco, Inc. * | 33,816 | 535,307 |
PetMed Express, Inc. (c) | 29,500 | 496,190 |
Pier 1 Imports, Inc. (c) | 140,400 | 1,041,768 |
Pool Corp. | 65,028 | 5,302,383 |
Rent-A-Center, Inc. | 77,385 | 1,423,110 |
Restoration Hardware Holdings, Inc. * | 49,241 | 5,076,255 |
Select Comfort Corp. * | 75,512 | 1,600,854 |
Shoe Carnival, Inc. | 24,850 | 558,380 |
Security | Number of Shares | Value ($) |
Shutterfly, Inc. * | 56,947 | 2,375,259 |
Sonic Automotive, Inc., Class A | 50,774 | 1,266,304 |
Sportsman's Warehouse Holdings, Inc. * | 23,000 | 247,480 |
Stage Stores, Inc. | 46,827 | 455,627 |
Stein Mart, Inc. | 44,300 | 392,498 |
Systemax, Inc. * | 14,500 | 134,415 |
The Buckle, Inc. (c) | 41,664 | 1,476,572 |
The Cato Corp., Class A | 42,404 | 1,601,175 |
The Children's Place, Inc. | 29,690 | 1,593,462 |
The Container Store Group, Inc. *(c) | 25,200 | 287,532 |
The Finish Line, Inc., Class A | 71,619 | 1,334,262 |
The Men's Wearhouse, Inc. | 72,769 | 2,909,305 |
The Pep Boys - Manny, Moe & Jack * | 75,800 | 1,140,032 |
Tile Shop Holdings, Inc. * | 41,100 | 596,361 |
Tilly's, Inc., Class A * | 12,600 | 91,854 |
Travelport Worldwide Ltd. | 154,462 | 2,092,960 |
Tuesday Morning Corp. * | 65,800 | 355,978 |
Vitamin Shoppe, Inc. * | 45,400 | 1,302,526 |
VOXX International Corp. * | 31,300 | 161,508 |
Wayfair, Inc., Class A *(c) | 28,698 | 1,213,065 |
West Marine, Inc. * | 24,500 | 249,410 |
Weyco Group, Inc. | 9,100 | 258,349 |
Winmark Corp. | 3,000 | 302,250 |
Zumiez, Inc. * | 30,100 | 526,148 |
112,661,969 | ||
Semiconductors & Semiconductor Equipment 3.3% | ||
Advanced Energy Industries, Inc. * | 59,437 | 1,680,878 |
Advanced Micro Devices, Inc. *(c) | 974,643 | 2,066,243 |
Alpha & Omega Semiconductor Ltd. * | 28,000 | 248,640 |
Ambarella, Inc. *(c) | 46,100 | 2,279,184 |
Amkor Technology, Inc. * | 152,218 | 946,796 |
Applied Micro Circuits Corp. * | 114,365 | 741,085 |
Axcelis Technologies, Inc. * | 188,400 | 527,520 |
Brooks Automation, Inc. | 95,831 | 1,057,974 |
Cabot Microelectronics Corp. * | 35,700 | 1,505,469 |
Cascade Microtech, Inc. * | 18,700 | 286,484 |
Cavium, Inc. * | 82,300 | 5,839,185 |
CEVA, Inc. * | 32,336 | 755,692 |
Cirrus Logic, Inc. * | 95,900 | 2,956,597 |
Cohu, Inc. | 46,700 | 587,953 |
Diodes, Inc. * | 54,281 | 1,243,035 |
DSP Group, Inc. * | 31,400 | 317,140 |
Entegris, Inc. * | 210,800 | 2,704,564 |
Exar Corp. * | 58,500 | 332,865 |
Fairchild Semiconductor International, Inc. * | 178,942 | 2,984,753 |
FormFactor, Inc. * | 94,273 | 776,810 |
Inphi Corp. * | 60,433 | 1,799,090 |
Integrated Device Technology, Inc. * | 220,089 | 5,612,269 |
Integrated Silicon Solution, Inc. | 46,000 | 1,034,080 |
Intersil Corp., Class A | 190,700 | 2,583,985 |
IXYS Corp. | 32,400 | 403,704 |
Kopin Corp. * | 100,300 | 267,801 |
Lattice Semiconductor Corp. * | 170,200 | 779,516 |
Security | Number of Shares | Value ($) |
M/A-COM Technology Solutions Holdings, Inc. * | 36,753 | 1,240,046 |
Mattson Technology, Inc. * | 93,954 | 219,852 |
MaxLinear, Inc., Class A * | 73,260 | 952,380 |
Microsemi Corp. * | 141,981 | 5,112,736 |
MKS Instruments, Inc. | 80,189 | 2,825,860 |
Monolithic Power Systems, Inc. | 58,400 | 3,645,328 |
Nanometrics, Inc. * | 40,600 | 620,368 |
NeoPhotonics Corp. * | 41,863 | 346,207 |
NVE Corp. | 6,500 | 385,385 |
OmniVision Technologies, Inc. * | 87,073 | 2,513,798 |
PDF Solutions, Inc. * | 44,800 | 473,088 |
Pericom Semiconductor Corp. | 31,900 | 556,655 |
Photronics, Inc. * | 92,837 | 890,307 |
PMC-Sierra, Inc. * | 269,300 | 3,210,056 |
Power Integrations, Inc. | 45,362 | 2,295,771 |
Rambus, Inc. * | 167,900 | 1,732,728 |
Rudolph Technologies, Inc. * | 46,700 | 597,293 |
Semtech Corp. * | 100,229 | 1,754,008 |
Sigma Designs, Inc. * | 48,758 | 429,558 |
Silicon Laboratories, Inc. * | 63,550 | 3,175,594 |
Synaptics, Inc. * | 55,600 | 4,731,004 |
Tessera Technologies, Inc. | 77,959 | 2,726,226 |
Ultra Clean Holdings, Inc. * | 43,300 | 211,304 |
Ultratech, Inc. * | 47,700 | 745,551 |
Veeco Instruments, Inc. * | 57,339 | 1,033,249 |
Xcerra Corp. * | 84,400 | 585,736 |
85,329,400 | ||
Software & Services 9.4% | ||
6D Global Technologies, Inc. *(b)(c) | 24,294 | 53,022 |
A10 Networks, Inc. * | 45,219 | 324,672 |
ACI Worldwide, Inc. * | 172,052 | 4,120,645 |
Actua Corp. * | 57,600 | 797,760 |
Acxiom Corp. * | 117,600 | 2,601,312 |
Alarm.com Holdings, Inc. *(c) | 8,200 | 103,730 |
Amber Road, Inc. * | 27,400 | 110,148 |
American Software, Inc., Class A | 45,000 | 460,350 |
Angie's List, Inc. *(c) | 60,200 | 465,346 |
Apigee Corp. *(c) | 7,000 | 67,550 |
Appfolio, Inc., Class A *(c) | 6,300 | 110,313 |
Aspen Technology, Inc. * | 128,199 | 5,306,157 |
AVG Technologies N.V. * | 58,258 | 1,380,715 |
Bankrate, Inc. * | 98,300 | 1,166,821 |
Barracuda Networks, Inc. * | 11,600 | 222,488 |
Bazaarvoice, Inc. * | 107,400 | 475,782 |
Benefitfocus, Inc. * | 11,390 | 364,024 |
Blackbaud, Inc. | 70,769 | 4,436,509 |
Blackhawk Network Holdings, Inc. * | 80,202 | 3,415,001 |
Blucora, Inc. * | 63,100 | 618,380 |
Bottomline Technologies de, Inc. * | 63,700 | 1,763,216 |
Box, Inc., Class A * | 20,500 | 255,840 |
Brightcove, Inc. * | 49,900 | 309,380 |
BroadSoft, Inc. * | 42,200 | 1,349,134 |
CACI International, Inc., Class A * | 35,158 | 3,411,732 |
Callidus Software, Inc. * | 86,000 | 1,493,820 |
Carbonite, Inc. * | 26,000 | 263,120 |
Cardtronics, Inc. * | 67,600 | 2,332,200 |
Care.com, Inc. *(c) | 23,800 | 143,038 |
Security | Number of Shares | Value ($) |
Cass Information Systems, Inc. | 17,640 | 920,102 |
ChannelAdvisor Corp. * | 30,400 | 265,088 |
Ciber, Inc. * | 120,800 | 431,256 |
Cimpress N.V. *(c) | 49,500 | 3,905,550 |
Code Rebel Corp. *(c) | 2,500 | 12,425 |
CommVault Systems, Inc. * | 68,247 | 2,765,368 |
comScore, Inc. * | 50,800 | 2,173,224 |
Constant Contact, Inc. * | 46,785 | 1,221,089 |
Convergys Corp. | 146,000 | 3,747,820 |
Cornerstone OnDemand, Inc. * | 82,700 | 2,605,050 |
CSG Systems International, Inc. | 51,100 | 1,712,872 |
Cvent, Inc. * | 36,000 | 1,137,960 |
Datalink Corp. * | 27,300 | 199,290 |
Demandware, Inc. * | 50,610 | 2,869,587 |
DHI Group, Inc. * | 73,100 | 661,555 |
Digimarc Corp. *(c) | 10,300 | 231,338 |
Digital Turbine, Inc. *(c) | 65,944 | 109,467 |
EarthLink Holdings Corp. | 147,381 | 1,260,108 |
Ebix, Inc. (c) | 38,300 | 1,062,059 |
Ellie Mae, Inc. * | 44,100 | 3,218,418 |
Endurance International Group Holdings, Inc. * | 82,802 | 1,103,751 |
EnerNOC, Inc. * | 42,000 | 329,280 |
Envestnet, Inc. * | 54,700 | 1,633,342 |
EPAM Systems, Inc. * | 72,383 | 5,598,825 |
Epiq Systems, Inc. | 48,100 | 663,780 |
Euronet Worldwide, Inc. * | 76,982 | 6,177,036 |
Everi Holdings, Inc. * | 103,300 | 483,444 |
EVERTEC, Inc. | 96,400 | 1,758,336 |
Everyday Health, Inc. * | 26,939 | 253,227 |
ExlService Holdings, Inc. * | 50,592 | 2,239,202 |
Fair Isaac Corp. | 46,041 | 4,252,807 |
Five9, Inc. * | 33,000 | 142,890 |
Fleetmatics Group plc * | 57,800 | 3,217,148 |
Forrester Research, Inc. | 16,017 | 516,869 |
Gigamon, Inc. * | 39,600 | 1,038,708 |
Globant S.A. *(c) | 21,151 | 731,190 |
Glu Mobile, Inc. * | 170,358 | 701,875 |
Gogo, Inc. *(c) | 82,000 | 1,158,660 |
GrubHub, Inc. *(c) | 112,476 | 2,697,175 |
GTT Communications, Inc. * | 32,943 | 616,693 |
Guidance Software, Inc. * | 31,700 | 178,788 |
Guidewire Software, Inc. * | 103,927 | 6,051,669 |
Heartland Payment Systems, Inc. | 53,800 | 3,981,200 |
Hortonworks, Inc. * | 12,500 | 243,250 |
HubSpot, Inc. * | 29,889 | 1,550,641 |
Imperva, Inc. * | 39,742 | 2,806,580 |
Infoblox, Inc. * | 86,300 | 1,407,553 |
Interactive Intelligence Group, Inc. * | 23,473 | 759,117 |
Internap Corp. * | 96,000 | 648,960 |
Intralinks Holdings, Inc. * | 61,600 | 539,000 |
j2 Global, Inc. | 71,228 | 5,523,731 |
Jive Software, Inc. * | 82,300 | 400,801 |
Limelight Networks, Inc. * | 90,900 | 185,436 |
Lionbridge Technologies, Inc. * | 99,900 | 538,461 |
Liquidity Services, Inc. * | 35,400 | 289,926 |
LivePerson, Inc. * | 78,700 | 613,860 |
LogMeIn, Inc. * | 35,600 | 2,398,016 |
Luxoft Holding, Inc. * | 26,670 | 1,777,289 |
Manhattan Associates, Inc. * | 111,088 | 8,092,761 |
Security | Number of Shares | Value ($) |
ManTech International Corp., Class A | 34,500 | 997,050 |
Marchex, Inc., Class B | 48,200 | 208,224 |
Marin Software, Inc. * | 38,600 | 138,188 |
Marketo, Inc. * | 53,589 | 1,577,124 |
MAXIMUS, Inc. | 98,817 | 6,739,319 |
MaxPoint Interactive, Inc. * | 7,439 | 35,856 |
Mentor Graphics Corp. | 149,167 | 4,057,342 |
MicroStrategy, Inc., Class A * | 14,162 | 2,436,855 |
MINDBODY, Inc., Class A *(c) | 9,300 | 145,452 |
MobileIron, Inc. *(c) | 76,236 | 294,271 |
Model N, Inc. * | 28,300 | 285,830 |
ModusLink Global Solutions, Inc. * | 58,700 | 169,643 |
MoneyGram International, Inc. * | 42,800 | 432,708 |
Monotype Imaging Holdings, Inc. | 58,600 | 1,602,124 |
Monster Worldwide, Inc. * | 133,500 | 837,045 |
NeuStar, Inc., Class A *(c) | 83,179 | 2,261,637 |
New Relic, Inc. * | 10,300 | 408,395 |
NIC, Inc. | 96,800 | 1,836,296 |
OPOWER, Inc. *(c) | 34,311 | 331,101 |
Park City Group, Inc. *(c) | 14,000 | 163,100 |
Paycom Software, Inc. * | 48,107 | 1,828,547 |
Paylocity Holding Corp. * | 21,145 | 709,838 |
Pegasystems, Inc. | 53,200 | 1,483,748 |
Perficient, Inc. * | 49,897 | 834,278 |
PFSweb, Inc. * | 18,923 | 303,146 |
Progress Software Corp. * | 74,620 | 1,811,774 |
Proofpoint, Inc. * | 59,700 | 4,205,268 |
PROS Holdings, Inc. * | 34,000 | 816,680 |
Q2 Holdings, Inc. * | 31,493 | 776,302 |
QAD, Inc., Class A | 14,100 | 360,114 |
Qlik Technologies, Inc. * | 136,621 | 4,285,801 |
Qualys, Inc. * | 35,526 | 1,254,778 |
QuinStreet, Inc. * | 44,900 | 249,195 |
Quotient Technology, Inc. *(c) | 99,832 | 553,069 |
Rapid7, Inc. *(c) | 9,900 | 203,544 |
RealNetworks, Inc. * | 52,657 | 204,309 |
RealPage, Inc. * | 76,600 | 1,294,540 |
Reis, Inc. | 11,900 | 289,646 |
RetailMeNot, Inc. * | 53,000 | 465,870 |
RingCentral, Inc., Class A * | 82,168 | 1,520,108 |
Rocket Fuel, Inc. *(c) | 26,900 | 123,740 |
Rovi Corp. * | 135,536 | 1,240,154 |
Sapiens International Corp. N.V. | 43,366 | 512,153 |
Science Applications International Corp. | 67,484 | 3,094,816 |
SciQuest, Inc. * | 48,200 | 571,652 |
Seachange International, Inc. * | 46,700 | 302,149 |
ServiceSource International, Inc. * | 105,500 | 450,485 |
Shutterstock, Inc. *(c) | 32,660 | 930,157 |
Silver Spring Networks, Inc. * | 51,400 | 673,854 |
SPS Commerce, Inc. * | 25,500 | 1,831,410 |
Stamps.com, Inc. * | 21,700 | 1,640,737 |
Sykes Enterprises, Inc. * | 60,293 | 1,748,497 |
Synchronoss Technologies, Inc. * | 58,562 | 2,060,211 |
Syntel, Inc. * | 45,800 | 2,154,432 |
Take-Two Interactive Software, Inc. * | 125,312 | 4,160,358 |
Tangoe, Inc. * | 56,800 | 470,304 |
TechTarget, Inc. * | 31,700 | 295,761 |
TeleCommunication Systems, Inc., Class A * | 67,800 | 277,302 |
Security | Number of Shares | Value ($) |
Telenav, Inc. * | 40,000 | 288,000 |
TeleTech Holdings, Inc. | 27,200 | 791,520 |
Textura, Corp. *(c) | 27,400 | 804,464 |
The Hackett Group, Inc. | 40,800 | 607,104 |
The Rubicon Project, Inc. * | 42,361 | 642,193 |
TiVo, Inc. * | 150,203 | 1,363,843 |
Travelzoo, Inc. * | 9,800 | 87,612 |
TrueCar, Inc. *(c) | 69,159 | 424,636 |
TubeMogul, Inc. *(c) | 29,288 | 349,992 |
Tyler Technologies, Inc. * | 49,952 | 8,509,823 |
Unisys Corp. * | 77,550 | 1,039,170 |
United Online, Inc. * | 18,164 | 212,156 |
Varonis Systems, Inc. * | 15,900 | 253,923 |
VASCO Data Security International, Inc. *(c) | 45,900 | 872,559 |
Verint Systems, Inc. * | 92,360 | 4,394,489 |
VirnetX Holding Corp. *(c) | 65,700 | 249,660 |
Virtusa Corp. * | 44,900 | 2,578,607 |
Web.com Group, Inc. * | 66,800 | 1,567,796 |
WebMD Health Corp. * | 58,570 | 2,381,456 |
Wix.com Ltd. * | 26,100 | 577,332 |
Workiva, Inc. *(c) | 14,300 | 237,094 |
Xactly Corp. * | 8,500 | 79,050 |
XO Group, Inc. * | 39,800 | 602,174 |
Xoom Corp. * | 45,400 | 1,132,276 |
Xura, Inc. * | 32,070 | 829,972 |
Yodlee, Inc. * | 25,168 | 422,319 |
Zendesk, Inc. * | 80,794 | 1,625,575 |
Zix Corp. * | 88,900 | 460,502 |
246,064,692 | ||
Technology Hardware & Equipment 4.9% | ||
ADTRAN, Inc. | 70,800 | 1,099,524 |
Aerohive Networks, Inc. *(c) | 31,800 | 214,332 |
Agilysys, Inc. * | 24,000 | 272,880 |
Alliance Fiber Optic Products, Inc. | 24,500 | 333,445 |
Anixter International, Inc. * | 42,024 | 2,882,006 |
Applied Optoelectronics, Inc. * | 21,700 | 447,454 |
Avid Technology, Inc. * | 44,342 | 374,690 |
AVX Corp. | 72,454 | 978,129 |
Badger Meter, Inc. | 21,940 | 1,329,125 |
Bel Fuse, Inc., Class B | 14,100 | 254,223 |
Belden, Inc. | 64,008 | 4,098,432 |
Benchmark Electronics, Inc. * | 81,294 | 1,607,995 |
Black Box Corp. | 24,092 | 294,163 |
CalAmp Corp. * | 53,500 | 1,014,360 |
Calix, Inc. * | 58,800 | 411,012 |
Checkpoint Systems, Inc. | 61,644 | 461,097 |
Ciena Corp. * | 187,974 | 4,537,692 |
Clearfield, Inc. *(c) | 16,700 | 234,301 |
Coherent, Inc. * | 34,489 | 1,869,304 |
Comtech Telecommunications Corp. | 25,300 | 611,248 |
Control4 Corp. *(c) | 31,800 | 207,972 |
Cray, Inc. * | 59,800 | 1,771,874 |
CTS Corp. | 52,200 | 948,996 |
Daktronics, Inc. | 59,300 | 575,210 |
Diebold, Inc. | 97,533 | 3,596,042 |
Digi International, Inc. * | 33,900 | 437,310 |
DTS, Inc. * | 24,942 | 742,274 |
Eastman Kodak Co. *(c) | 25,900 | 324,268 |
Security | Number of Shares | Value ($) |
Electro Rent Corp. | 25,200 | 261,576 |
Electronics for Imaging, Inc. * | 69,188 | 3,213,091 |
EMCORE Corp. * | 34,290 | 234,544 |
ePlus, Inc. * | 9,200 | 776,664 |
Extreme Networks, Inc. * | 135,200 | 485,368 |
Fabrinet * | 51,500 | 1,116,005 |
FARO Technologies, Inc. * | 25,200 | 851,508 |
FEI Co. | 62,514 | 4,512,886 |
Finisar Corp. * | 157,500 | 1,790,775 |
GSI Group, Inc. * | 48,200 | 651,182 |
Harmonic, Inc. * | 133,500 | 768,960 |
II-VI, Inc. * | 76,900 | 1,393,428 |
Imation Corp. * | 38,856 | 78,489 |
Immersion Corp. * | 46,379 | 601,999 |
Infinera Corp. * | 202,804 | 4,007,407 |
Insight Enterprises, Inc. * | 60,100 | 1,526,540 |
InterDigital, Inc. | 54,600 | 2,770,404 |
InvenSense, Inc. *(c) | 113,500 | 1,352,920 |
Itron, Inc. * | 57,869 | 2,125,528 |
Ixia * | 90,364 | 1,302,145 |
Kimball Electronics, Inc. * | 38,700 | 440,793 |
Knowles Corp. *(c) | 133,397 | 2,222,394 |
KVH Industries, Inc. * | 30,800 | 301,840 |
Littelfuse, Inc. | 33,200 | 3,317,676 |
Mercury Systems, Inc. * | 54,201 | 930,089 |
Mesa Laboratories, Inc. | 4,800 | 536,880 |
Methode Electronics, Inc. | 56,300 | 1,876,479 |
MTS Systems Corp. | 21,775 | 1,437,803 |
Multi-Fineline Electronix, Inc. * | 12,100 | 224,818 |
NETGEAR, Inc. * | 45,500 | 1,883,700 |
NetScout Systems, Inc. * | 136,500 | 4,896,255 |
Newport Corp. * | 57,700 | 871,847 |
Nimble Storage, Inc. * | 77,777 | 1,757,760 |
Novatel Wireless, Inc. *(c) | 52,496 | 112,866 |
Oclaro, Inc. *(c) | 137,300 | 402,289 |
OSI Systems, Inc. * | 29,900 | 2,576,782 |
Park Electrochemical Corp. | 32,946 | 538,338 |
PC Connection, Inc. | 17,700 | 411,348 |
Plantronics, Inc. | 52,230 | 2,800,573 |
Plexus Corp. * | 50,262 | 1,740,070 |
Polycom, Inc. * | 202,700 | 2,793,206 |
QLogic Corp. * | 127,468 | 1,580,603 |
Quantum Corp. * | 324,083 | 272,230 |
RealD, Inc. * | 60,400 | 614,268 |
Rofin-Sinar Technologies, Inc. * | 40,036 | 1,159,443 |
Rogers Corp. * | 27,867 | 1,296,373 |
Ruckus Wireless, Inc. * | 108,800 | 1,227,264 |
Sanmina Corp. * | 126,100 | 2,606,487 |
ScanSource, Inc. * | 43,405 | 1,497,907 |
ShoreTel, Inc. * | 105,257 | 993,626 |
Silicon Graphics International Corp. * | 53,400 | 233,358 |
Sonus Networks, Inc. * | 72,111 | 476,654 |
Stratasys Ltd. *(c) | 77,206 | 1,968,753 |
Super Micro Computer, Inc. * | 55,826 | 1,574,851 |
SYNNEX Corp. | 43,400 | 3,838,296 |
Tech Data Corp. * | 54,767 | 3,986,490 |
TTM Technologies, Inc. * | 91,192 | 665,702 |
Ubiquiti Networks, Inc. *(c) | 44,472 | 1,297,693 |
Universal Display Corp. * | 61,652 | 2,115,280 |
ViaSat, Inc. * | 63,319 | 4,176,521 |
Violin Memory, Inc. *(c) | 117,600 | 189,336 |
Security | Number of Shares | Value ($) |
Vishay Intertechnology, Inc. | 205,828 | 2,181,777 |
Vishay Precision Group, Inc. * | 16,500 | 193,545 |
127,971,040 | ||
Telecommunication Services 0.9% | ||
8x8, Inc. * | 127,000 | 1,353,820 |
Atlantic Tele-Network, Inc. | 15,200 | 1,161,584 |
Boingo Wireless, Inc. * | 51,500 | 398,095 |
Cincinnati Bell, Inc. * | 303,745 | 1,145,119 |
Cogent Communications Holdings, Inc. | 71,600 | 2,199,552 |
Consolidated Communications Holdings, Inc. | 76,274 | 1,685,655 |
FairPoint Communications, Inc. * | 28,900 | 463,556 |
General Communication, Inc., Class A * | 50,300 | 1,024,359 |
Globalstar, Inc. *(c) | 745,589 | 1,342,060 |
Hawaiian Telcom Holdco, Inc. * | 16,213 | 369,981 |
IDT Corp., Class B | 31,300 | 405,335 |
inContact, Inc. * | 101,000 | 898,900 |
Inteliquent, Inc. | 54,500 | 1,129,240 |
Intelsat S.A. * | 40,100 | 265,462 |
Iridium Communications, Inc. *(c) | 116,700 | 958,107 |
Lumos Networks Corp. | 37,200 | 482,112 |
NTELOS Holdings Corp. * | 26,050 | 239,400 |
ORBCOMM, Inc. * | 82,700 | 491,238 |
Pacific DataVision, Inc. *(c) | 17,805 | 498,896 |
Premiere Global Services, Inc. * | 70,000 | 957,600 |
Shenandoah Telecommunications Co. | 34,800 | 1,628,292 |
Spok Holdings, Inc. | 36,600 | 659,898 |
Straight Path Communications, Inc., Class B *(c) | 13,015 | 403,465 |
Vonage Holdings Corp. * | 285,200 | 1,731,164 |
Windstream Holdings, Inc. (c) | 141,164 | 918,978 |
22,811,868 | ||
Transportation 1.5% | ||
Air Transport Services Group, Inc. * | 72,100 | 705,859 |
Allegiant Travel Co. | 20,281 | 4,004,483 |
ArcBest Corp. | 40,572 | 1,050,815 |
Atlas Air Worldwide Holdings, Inc. * | 37,400 | 1,542,376 |
Celadon Group, Inc. | 39,100 | 566,168 |
Covenant Transport Group, Inc., Class A * | 15,994 | 308,684 |
Eagle Bulk Shipping, Inc. * | 29,680 | 181,048 |
Echo Global Logistics, Inc. * | 45,275 | 1,077,092 |
Forward Air Corp. | 45,682 | 2,072,136 |
Golden Ocean Group Ltd. (c) | 112,200 | 221,034 |
Hawaiian Holdings, Inc. * | 71,700 | 2,487,990 |
Heartland Express, Inc. | 74,000 | 1,393,420 |
Hub Group, Inc., Class A * | 54,498 | 2,178,830 |
Knight Transportation, Inc. | 96,600 | 2,455,572 |
Marten Transport Ltd. | 42,465 | 696,001 |
Matson, Inc. | 64,831 | 2,971,205 |
Navios Maritime Holdings, Inc. | 116,400 | 245,604 |
P.A.M. Transportation Services, Inc. * | 4,000 | 142,840 |
Park-Ohio Holdings Corp. | 13,600 | 469,200 |
Security | Number of Shares | Value ($) |
Radiant Logistics, Inc. * | 36,754 | 145,913 |
Republic Airways Holdings, Inc. * | 74,100 | 426,816 |
Roadrunner Transportation Systems, Inc. * | 40,900 | 435,176 |
Safe Bulkers, Inc. | 57,100 | 175,868 |
Saia, Inc. * | 37,900 | 894,819 |
Scorpio Bulkers, Inc. * | 486,900 | 681,660 |
SkyWest, Inc. | 73,612 | 1,401,572 |
Swift Transportation Co. * | 130,000 | 2,031,900 |
Ultrapetrol Bahamas Ltd. * | 33,800 | 15,213 |
Universal Truckload Services, Inc. (c) | 11,747 | 187,717 |
USA Truck, Inc. * | 14,200 | 258,156 |
UTi Worldwide, Inc. * | 137,300 | 978,949 |
Virgin America, Inc. * | 38,288 | 1,363,436 |
Werner Enterprises, Inc. | 66,349 | 1,755,595 |
Wesco Aircraft Holdings, Inc. * | 88,900 | 1,107,694 |
XPO Logistics, Inc. *(c) | 105,402 | 2,925,960 |
YRC Worldwide, Inc. * | 47,200 | 861,872 |
40,418,673 | ||
Utilities 3.8% | ||
Abengoa Yield plc (c) | 73,784 | 1,367,217 |
ALLETE, Inc. | 72,099 | 3,620,091 |
American States Water Co. | 55,800 | 2,273,850 |
Artesian Resources Corp., Class A | 10,500 | 255,780 |
Atlantic Power Corp. (c) | 217,000 | 442,680 |
Avista Corp. | 94,430 | 3,196,455 |
Black Hills Corp. | 65,398 | 2,993,920 |
California Water Service Group | 71,574 | 1,600,395 |
Chesapeake Utilities Corp. | 23,400 | 1,221,714 |
Cleco Corp. | 89,400 | 4,738,200 |
Connecticut Water Service, Inc. | 15,000 | 552,150 |
Consolidated Water Co., Ltd. | 20,376 | 225,562 |
Dynegy, Inc. * | 192,800 | 3,746,104 |
El Paso Electric Co. | 60,303 | 2,331,917 |
Genie Energy Ltd., Class B * | 16,911 | 191,771 |
IDACORP, Inc. | 76,243 | 5,096,845 |
MGE Energy, Inc. | 50,940 | 2,102,294 |
Middlesex Water Co. | 25,485 | 656,748 |
New Jersey Resources Corp. | 126,700 | 4,013,856 |
Northwest Natural Gas Co. | 39,895 | 1,905,784 |
NorthWestern Corp. | 70,069 | 3,797,039 |
NRG Yield, Inc., Class A | 59,933 | 822,880 |
NRG Yield, Inc., Class C | 91,524 | 1,321,607 |
ONE Gas, Inc. | 79,000 | 3,858,360 |
Ormat Technologies, Inc. | 54,873 | 2,069,810 |
Otter Tail Corp. | 54,253 | 1,488,702 |
Pattern Energy Group, Inc. (c) | 80,800 | 1,889,912 |
Piedmont Natural Gas Co., Inc. | 117,906 | 6,757,193 |
PNM Resources, Inc. | 118,200 | 3,323,784 |
Portland General Electric Co. | 133,008 | 4,931,937 |
SJW Corp. | 24,600 | 780,558 |
South Jersey Industries, Inc. | 101,320 | 2,685,993 |
Southwest Gas Corp. | 70,696 | 4,344,976 |
Spark Energy, Inc., Class A | 6,900 | 117,024 |
Talen Energy Corp. * | 127,547 | 1,107,108 |
TerraForm Global, Inc., Class A * | 56,000 | 427,280 |
The Empire District Electric Co. | 62,100 | 1,400,355 |
The Laclede Group, Inc. | 65,871 | 3,858,064 |
The York Water Co. | 19,200 | 445,056 |
Security | Number of Shares | Value ($) |
UIL Holdings Corp. | 84,010 | 4,283,670 |
Unitil Corp. | 22,100 | 783,887 |
Vivint Solar, Inc. *(c) | 27,000 | 319,410 |
WGL Holdings, Inc. | 74,033 | 4,607,074 |
97,955,012 | ||
Total Common Stock | ||
(Cost $1,996,193,500) | 2,590,361,425 | |
Rights 0.0% of net assets | ||
Automobiles & Components 0.0% | ||
Furiex Pharmaceuticals CVR *(a)(b) | 11,000 | 107,470 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Omthera Pharmaceutical CVR *(a)(b) | 8,400 | — |
Telecommunication Services 0.0% | ||
Leap Wireless CVR *(a)(b) | 84,700 | 213,444 |
Total Rights | ||
(Cost $320,914) | 320,914 | |
Warrants 0.0% of net assets | ||
Energy 0.0% | ||
Magnum Hunter Resources Corp. *(a)(b) | 24,500 | — |
Total Warrants | ||
(Cost $—) | — | |
Other Investment Company 6.4% of net assets | ||
Securities Lending Collateral 6.4% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (d) | 166,858,920 | 166,858,920 |
Total Other Investment Company | ||
(Cost $166,858,920) | 166,858,920 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.4% of net assets | ||
Time Deposit 0.4% | ||
Sumitomo Mitsui Banking Corp. | ||
0.03%, 11/02/15 | 10,766,144 | 10,766,144 |
Total Short-Term Investment | ||
(Cost $10,766,144) | 10,766,144 |
At 10/31/15, tax basis cost of the fund's investments was $2,184,722,405 and the unrealized appreciation and depreciation were $844,629,291 and ($261,044,293), respectively, with a net unrealized appreciation of $583,584,998.
* | Non-income producing security. |
(a) | Illiquid security. At the period end, the value of these amounted to $320,914 or 0.0% of net assets. |
(b) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(c) | All or a portion of this security is on loan. Securities on loan were valued at $161,902,253. |
(d) | The rate shown is the 7-day yield. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/18/15 | 106 | 12,277,980 | 45,208 |
Holdings by Category | Cost ($) | Value ($) | |
99.2% | Common Stock | 2,804,713,777 | 4,440,133,759 |
0.0% | Rights | 32,982 | 32,760 |
0.0% | Warrants | — | — |
0.8% | Other Investment Company | 36,468,372 | 36,468,372 |
1.5% | Short-Term Investments | 67,205,632 | 67,205,632 |
101.5% | Total Investments | 2,908,420,763 | 4,543,840,523 |
(1.5%) | Other Assets and Liabilities, Net | (66,982,719) | |
100.0% | Net Assets | 4,476,857,804 |
Security | Number of Shares | Value ($) |
Common Stock 99.2% of net assets | ||
Automobiles & Components 1.2% | ||
American Axle & Manufacturing Holdings, Inc. * | 13,400 | 296,944 |
Autoliv, Inc. (c) | 18,600 | 2,255,064 |
BorgWarner, Inc. | 44,800 | 1,918,336 |
Cooper Tire & Rubber Co. | 8,900 | 371,931 |
Cooper-Standard Holding, Inc. * | 2,500 | 162,600 |
Dana Holding Corp. | 35,200 | 591,360 |
Delphi Automotive plc | 55,685 | 4,632,435 |
Dorman Products, Inc. * | 5,000 | 233,400 |
Drew Industries, Inc. | 5,400 | 323,082 |
Federal-Mogul Holdings Corp. * | 22,200 | 172,050 |
Ford Motor Co. | 751,740 | 11,133,269 |
General Motors Co. | 283,885 | 9,910,425 |
Gentex Corp. | 59,600 | 976,844 |
Gentherm, Inc. * | 5,307 | 260,892 |
Harley-Davidson, Inc. | 42,093 | 2,081,499 |
Horizon Global Corp. * | 3,717 | 32,673 |
Johnson Controls, Inc. | 132,500 | 5,986,350 |
Lear Corp. | 14,000 | 1,750,840 |
LookSmart Group, Inc. *(b) | 160 | — |
Modine Manufacturing Co. * | 12,100 | 101,277 |
Pyxis Tankers, Inc. * | 25 | 108 |
Remy International, Inc. | 2,946 | 86,878 |
Standard Motor Products, Inc. | 7,500 | 331,875 |
Stoneridge, Inc. * | 13,100 | 166,239 |
Strattec Security Corp. | 1,500 | 89,730 |
Tenneco, Inc. * | 10,080 | 570,427 |
Tesla Motors, Inc. * | 19,170 | 3,966,848 |
Security | Number of Shares | Value ($) |
The Goodyear Tire & Rubber Co. | 53,637 | 1,761,439 |
Thor Industries, Inc. | 7,500 | 405,600 |
Tower International, Inc. * | 5,564 | 152,843 |
Visteon Corp. * | 8,000 | 872,560 |
Winnebago Industries, Inc. | 7,400 | 155,326 |
51,751,144 | ||
Banks 6.0% | ||
1st Source Corp. | 6,080 | 193,101 |
Ameris Bancorp | 6,348 | 199,962 |
Arrow Financial Corp. | 3,526 | 97,318 |
Associated Banc-Corp. | 25,000 | 483,500 |
Astoria Financial Corp. | 19,300 | 308,028 |
BancFirst Corp. | 2,300 | 141,749 |
BancorpSouth, Inc. | 16,112 | 401,672 |
Bank Mutual Corp. | 18,268 | 132,260 |
Bank of America Corp. | 2,052,101 | 34,434,255 |
Bank of Hawaii Corp. | 10,000 | 654,800 |
Bank of the Ozarks, Inc. | 22,800 | 1,140,456 |
BankUnited, Inc. | 26,896 | 999,993 |
Banner Corp. | 5,571 | 273,369 |
BB&T Corp. | 156,332 | 5,807,734 |
BBCN Bancorp, Inc. | 19,100 | 320,689 |
Beneficial Bancorp, Inc. * | 9,899 | 137,299 |
Berkshire Hills Bancorp, Inc. | 8,000 | 228,800 |
BNC Bancorp | 11,012 | 247,219 |
BofI Holding, Inc. * | 2,100 | 168,021 |
BOK Financial Corp. | 3,740 | 251,253 |
Boston Private Financial Holdings, Inc. | 20,729 | 237,554 |
Brookline Bancorp, Inc. | 11,705 | 132,852 |
Bryn Mawr Bank Corp. | 3,400 | 99,042 |
Camden National Corp. | 2,500 | 97,725 |
Capital Bank Financial Corp., Class A | 10,300 | 332,690 |
Capital City Bank Group, Inc. | 6,875 | 106,150 |
Capitol Federal Financial, Inc. | 21,963 | 285,080 |
Cardinal Financial Corp. | 3,700 | 84,101 |
Cathay General Bancorp | 16,006 | 500,988 |
CenterState Banks, Inc. | 17,590 | 256,462 |
Central Pacific Financial Corp. | 10,269 | 229,615 |
Century Bancorp, Inc., Class A | 800 | 35,560 |
Chemical Financial Corp. | 8,683 | 294,614 |
CIT Group, Inc. | 38,200 | 1,642,600 |
Citigroup, Inc. | 591,989 | 31,476,055 |
Citizens Financial Group, Inc. | 85,700 | 2,082,510 |
City Holding Co. | 4,800 | 229,584 |
Columbia Banking System, Inc. | 9,951 | 331,567 |
Comerica, Inc. | 39,159 | 1,699,501 |
Commerce Bancshares, Inc. | 18,579 | 846,273 |
Community Bank System, Inc. | 10,700 | 436,132 |
Community Trust Bancorp, Inc. | 2,735 | 94,275 |
Cullen/Frost Bankers, Inc. | 12,600 | 862,344 |
CVB Financial Corp. | 19,411 | 338,722 |
Dime Community Bancshares, Inc. | 6,875 | 119,281 |
Eagle Bancorp, Inc. * | 5,760 | 274,176 |
East West Bancorp, Inc. | 29,100 | 1,175,349 |
Essent Group Ltd. * | 14,900 | 359,090 |
EverBank Financial Corp. | 15,400 | 265,804 |
F.N.B. Corp. | 31,061 | 418,392 |
Fifth Third Bancorp | 166,314 | 3,168,282 |
Security | Number of Shares | Value ($) |
First BanCorp (Puerto Rico) * | 56,579 | 214,434 |
First Busey Corp. | 6,733 | 140,518 |
First Citizens BancShares, Inc., Class A | 1,900 | 486,666 |
First Commonwealth Financial Corp. | 24,904 | 228,868 |
First Financial Bancorp | 10,339 | 199,336 |
First Financial Bankshares, Inc. (c) | 18,200 | 605,332 |
First Financial Corp. | 2,600 | 89,102 |
First Horizon National Corp. | 45,216 | 641,163 |
First Interstate BancSystem, Inc., Class A | 8,900 | 252,404 |
First Merchants Corp. | 9,041 | 237,145 |
First Midwest Bancorp, Inc. | 15,825 | 282,002 |
First Niagara Financial Group, Inc. | 58,465 | 605,113 |
First Republic Bank | 28,724 | 1,875,964 |
First United Corp. * | 2,200 | 19,008 |
FirstMerit Corp. | 27,289 | 512,760 |
Flagstar Bancorp, Inc. * | 8,060 | 179,254 |
Flushing Financial Corp. | 6,800 | 143,072 |
Fulton Financial Corp. | 28,262 | 379,276 |
Glacier Bancorp, Inc. | 10,497 | 287,198 |
Great Southern Bancorp, Inc. | 3,400 | 164,322 |
Great Western Bancorp, Inc. | 13,000 | 367,380 |
Hancock Holding Co. | 12,344 | 340,694 |
Hanmi Financial Corp. | 7,000 | 178,500 |
Heartland Financial USA, Inc. | 2,500 | 92,100 |
Heritage Financial Corp. | 6,135 | 113,007 |
Hilltop Holdings, Inc. * | 14,975 | 314,026 |
Home BancShares, Inc. | 11,500 | 493,580 |
Hudson City Bancorp, Inc. | 106,731 | 1,080,118 |
Huntington Bancshares, Inc. | 177,099 | 1,942,776 |
IBERIABANK Corp. | 6,075 | 368,327 |
Independent Bank Corp., Massachusetts | 5,700 | 266,418 |
Independent Bank Corp., Michigan | 431 | 6,241 |
International Bancshares Corp. | 13,484 | 363,394 |
Investors Bancorp, Inc. | 58,997 | 738,052 |
JPMorgan Chase & Co. | 727,563 | 46,745,923 |
Kearny Financial Corp. | 12,423 | 148,455 |
KeyCorp | 192,190 | 2,387,000 |
Lakeland Financial Corp. | 3,700 | 166,241 |
LegacyTexas Financial Group, Inc. | 8,700 | 249,690 |
LendingTree, Inc. * | 2,444 | 296,604 |
M&T Bank Corp. | 26,666 | 3,195,920 |
MainSource Financial Group, Inc. | 5,535 | 119,777 |
MB Financial, Inc. | 13,857 | 446,750 |
Merchants Bancshares, Inc. | 3,650 | 115,048 |
MGIC Investment Corp. * | 62,600 | 588,440 |
MutualFirst Financial, Inc. | 2,000 | 46,840 |
National Bank Holdings Corp., Class A | 12,800 | 282,368 |
National Penn Bancshares, Inc. | 32,675 | 393,407 |
Nationstar Mortgage Holdings, Inc. * | 10,200 | 135,354 |
NBT Bancorp, Inc. | 11,500 | 323,265 |
New York Community Bancorp, Inc. | 94,285 | 1,557,588 |
Northfield Bancorp, Inc. | 15,765 | 241,520 |
Northrim BanCorp, Inc. | 4,281 | 118,241 |
Northwest Bancshares, Inc. | 19,350 | 260,451 |
OceanFirst Financial Corp. | 7,150 | 131,989 |
Ocwen Financial Corp. *(c) | 18,620 | 130,154 |
Security | Number of Shares | Value ($) |
OFG Bancorp | 8,163 | 75,181 |
Old National Bancorp | 16,800 | 235,200 |
Oritani Financial Corp. | 6,000 | 95,520 |
PacWest Bancorp | 19,833 | 893,278 |
Park National Corp. | 4,845 | 439,538 |
People's United Financial, Inc. | 79,087 | 1,261,438 |
Peoples Financial Corp. * | 3,000 | 27,210 |
PHH Corp. * | 7,186 | 105,634 |
Pinnacle Financial Partners, Inc. | 6,475 | 340,715 |
Popular, Inc. | 19,720 | 583,120 |
Premier Financial Bancorp, Inc. | 2,645 | 38,961 |
PrivateBancorp, Inc. | 13,000 | 543,790 |
Prosperity Bancshares, Inc. | 11,300 | 580,594 |
Provident Financial Holdings, Inc. | 4,350 | 74,559 |
Provident Financial Services, Inc. | 14,017 | 284,825 |
Radian Group, Inc. | 34,300 | 496,321 |
Regions Financial Corp. | 273,873 | 2,560,713 |
Renasant Corp. | 8,910 | 308,553 |
Republic Bancorp, Inc., Class A | 6,521 | 165,829 |
S&T Bancorp, Inc. | 4,400 | 140,272 |
Sandy Spring Bancorp, Inc. | 5,900 | 162,250 |
Seacoast Banking Corp of Florida * | 3,936 | 60,929 |
Shore Bancshares, Inc. | 1,250 | 12,388 |
Signature Bank * | 11,500 | 1,712,580 |
Simmons First National Corp., Class A | 4,000 | 206,160 |
South State Corp. | 5,584 | 432,760 |
Southside Bancshares, Inc. | 4,978 | 133,908 |
Southwest Bancorp, Inc. | 7,800 | 131,898 |
State Bank Financial Corp. | 6,200 | 132,680 |
Sterling Bancorp | 19,185 | 295,257 |
Stock Yards Bancorp, Inc. | 3,670 | 138,286 |
Suffolk Bancorp | 4,600 | 137,494 |
Sun Bancorp, Inc. * | 3,863 | 77,299 |
SunTrust Banks, Inc. | 106,857 | 4,436,703 |
SVB Financial Group * | 11,800 | 1,440,426 |
Synovus Financial Corp. | 28,042 | 886,968 |
TCF Financial Corp. | 32,100 | 494,019 |
Texas Capital Bancshares, Inc. * | 7,800 | 430,560 |
TFS Financial Corp. | 19,500 | 342,420 |
The First of Long Island Corp. | 6,000 | 166,620 |
The PNC Financial Services Group, Inc. | 102,842 | 9,282,519 |
Timberland Bancorp, Inc. | 2,000 | 24,260 |
Tompkins Financial Corp. | 4,024 | 218,423 |
Towne Bank | 21,600 | 463,536 |
TriCo Bancshares | 5,682 | 149,778 |
TrustCo Bank Corp. | 20,657 | 128,693 |
Trustmark Corp. | 14,762 | 354,731 |
U.S. Bancorp | 325,537 | 13,731,151 |
UMB Financial Corp. | 7,774 | 381,548 |
Umpqua Holdings Corp. | 51,951 | 867,582 |
Union Bankshares Corp. | 12,893 | 322,970 |
United Bankshares, Inc. | 12,300 | 486,465 |
United Community Banks, Inc. | 11,678 | 235,428 |
United Financial Bancorp, Inc. | 14,699 | 190,793 |
Valley National Bancorp | 77,242 | 811,041 |
Walker & Dunlop, Inc. * | 9,700 | 281,397 |
Walter Investment Management Corp. *(c) | 5,325 | 63,687 |
Washington Federal, Inc. | 14,942 | 372,654 |
Washington Trust Bancorp, Inc. | 3,600 | 139,680 |
Security | Number of Shares | Value ($) |
Webster Financial Corp. | 15,963 | 592,227 |
Wells Fargo & Co. | 918,113 | 49,706,638 |
WesBanco, Inc. | 7,756 | 253,233 |
Westamerica Bancorp | 5,200 | 229,892 |
Western Alliance Bancorp * | 16,600 | 593,450 |
Wilshire Bancorp, Inc. | 9,900 | 105,831 |
Wintrust Financial Corp. | 8,900 | 449,361 |
WSFS Financial Corp. | 6,000 | 190,620 |
Zions Bancorp | 42,725 | 1,229,198 |
270,362,065 | ||
Capital Goods 7.4% | ||
3M Co. | 122,357 | 19,235,744 |
A.O. Smith Corp. | 17,500 | 1,344,350 |
AAON, Inc. | 10,279 | 210,411 |
AAR Corp. | 8,400 | 190,596 |
Actuant Corp., Class A | 10,280 | 234,384 |
Acuity Brands, Inc. | 9,100 | 1,989,260 |
AECOM * | 31,725 | 934,936 |
Aegion Corp. * | 4,300 | 82,947 |
Aerojet Rocketdyne Holdings, Inc. * | 11,600 | 196,504 |
Aerovironment, Inc. * | 4,200 | 96,894 |
AGCO Corp. | 15,462 | 748,206 |
Air Lease Corp. | 17,400 | 586,554 |
Aircastle Ltd. | 14,100 | 319,506 |
Alamo Group, Inc. | 2,500 | 117,300 |
Albany International Corp., Class A | 6,718 | 252,395 |
Allegion plc | 17,433 | 1,136,109 |
Allison Transmission Holdings, Inc. | 38,555 | 1,106,528 |
Altra Industrial Motion Corp. | 4,300 | 113,778 |
American Railcar Industries, Inc. (c) | 4,500 | 259,740 |
American Science & Engineering, Inc. | 2,000 | 74,960 |
American Superconductor Corp. * | 520 | 2,824 |
American Woodmark Corp. * | 4,000 | 290,800 |
AMETEK, Inc. | 50,659 | 2,777,126 |
Apogee Enterprises, Inc. | 6,600 | 326,898 |
Applied Industrial Technologies, Inc. | 6,525 | 269,548 |
Armstrong World Industries, Inc. * | 8,495 | 421,522 |
Astec Industries, Inc. | 5,700 | 185,250 |
Astronics Corp. * | 2,550 | 96,416 |
AZZ, Inc. | 5,700 | 315,381 |
B/E Aerospace, Inc. | 22,900 | 1,075,155 |
Babcock & Wilcox Enterprises, Inc. * | 8,700 | 147,726 |
Barnes Group, Inc. | 11,200 | 421,008 |
Beacon Roofing Supply, Inc. * | 16,100 | 569,779 |
Blount International, Inc. * | 15,900 | 96,513 |
Breeze-Eastern Corp. * | 500 | 10,200 |
Briggs & Stratton Corp. | 11,400 | 202,578 |
Builders FirstSource, Inc. * | 17,100 | 202,122 |
BWX Technologies, Inc. | 17,400 | 492,420 |
Carlisle Cos., Inc. | 15,000 | 1,305,000 |
Caterpillar, Inc. | 121,269 | 8,851,424 |
Chart Industries, Inc. * | 4,400 | 75,636 |
Chicago Bridge & Iron Co., N.V. | 17,800 | 798,686 |
CIRCOR International, Inc. | 3,750 | 172,200 |
CLARCOR, Inc. | 14,800 | 737,928 |
Colfax Corp. * | 16,400 | 442,144 |
Columbus McKinnon Corp. | 4,300 | 80,367 |
Comfort Systems USA, Inc. | 7,700 | 245,861 |
Security | Number of Shares | Value ($) |
Crane Co. | 8,000 | 421,120 |
Cubic Corp. | 4,500 | 201,825 |
Cummins, Inc. | 32,400 | 3,353,724 |
Curtiss-Wright Corp. | 9,100 | 632,996 |
Danaher Corp. | 116,974 | 10,914,844 |
Deere & Co. | 59,754 | 4,660,812 |
DigitalGlobe, Inc. * | 12,322 | 183,967 |
Donaldson Co., Inc. | 22,100 | 667,420 |
Dover Corp. | 29,661 | 1,911,058 |
Ducommun, Inc. * | 3,200 | 69,248 |
DXP Enterprises, Inc. * | 1,700 | 51,442 |
Dycom Industries, Inc. * | 5,300 | 403,277 |
Dynamic Materials Corp. | 6,800 | 48,484 |
Eaton Corp. plc | 89,977 | 5,030,614 |
EMCOR Group, Inc. | 12,700 | 613,156 |
Emerson Electric Co. | 129,408 | 6,111,940 |
Encore Wire Corp. | 4,600 | 196,742 |
EnerSys | 7,500 | 457,425 |
Engility Holdings, Inc. | 4,116 | 132,494 |
EnPro Industries, Inc. | 4,900 | 240,639 |
ESCO Technologies, Inc. | 3,900 | 144,651 |
Esterline Technologies Corp. * | 5,900 | 454,595 |
Fastenal Co. (c) | 56,432 | 2,209,877 |
Federal Signal Corp. | 12,800 | 192,768 |
Flowserve Corp. | 27,700 | 1,284,172 |
Fluor Corp. | 28,519 | 1,363,493 |
Fortune Brands Home & Security, Inc. | 35,900 | 1,878,647 |
Franklin Electric Co., Inc. | 9,700 | 319,712 |
FreightCar America, Inc. | 2,500 | 45,450 |
FuelCell Energy, Inc. * | 29,400 | 26,004 |
Furmanite Corp. * | 7,200 | 50,040 |
GATX Corp. | 8,900 | 415,630 |
Generac Holdings, Inc. * | 12,500 | 394,500 |
General Cable Corp. | 6,700 | 103,113 |
General Dynamics Corp. | 59,200 | 8,795,936 |
General Electric Co. | 1,978,012 | 57,204,107 |
Gibraltar Industries, Inc. * | 6,300 | 159,516 |
Graco, Inc. | 10,812 | 793,601 |
Granite Construction, Inc. | 8,150 | 267,646 |
Great Lakes Dredge & Dock Corp. * | 11,600 | 46,400 |
Griffon Corp. | 15,100 | 259,418 |
H&E Equipment Services, Inc. | 6,800 | 131,308 |
Hardinge, Inc. | 4,800 | 45,408 |
Harsco Corp. | 11,300 | 121,249 |
HD Supply Holdings, Inc. * | 34,600 | 1,030,734 |
HEICO Corp. | 5,175 | 261,027 |
HEICO Corp., Class A | 6,000 | 262,080 |
Hexcel Corp. | 16,400 | 759,648 |
Hillenbrand, Inc. | 17,800 | 528,126 |
Honeywell International, Inc. | 152,480 | 15,748,134 |
Hubbell, Inc., Class B | 11,300 | 1,094,405 |
Huntington Ingalls Industries, Inc. | 10,672 | 1,280,000 |
Hyster-Yale Materials Handling, Inc. | 2,300 | 134,596 |
IDEX Corp. | 19,025 | 1,460,359 |
Illinois Tool Works, Inc. | 64,700 | 5,948,518 |
Ingersoll-Rand plc | 51,700 | 3,063,742 |
Integrated Electrical Services, Inc. * | 5,105 | 36,092 |
ITT Corp. | 15,000 | 593,700 |
Jacobs Engineering Group, Inc. * | 21,700 | 871,038 |
John Bean Technologies Corp. | 4,983 | 223,537 |
Security | Number of Shares | Value ($) |
Joy Global, Inc. | 17,550 | 301,509 |
Kadant, Inc. | 3,001 | 123,401 |
Kaman Corp. | 5,700 | 221,673 |
KBR, Inc. | 24,000 | 442,560 |
Kennametal, Inc. | 14,700 | 413,364 |
KLX, Inc. * | 9,000 | 351,990 |
Kratos Defense & Security Solutions, Inc. * | 10,180 | 50,798 |
L-3 Communications Holdings, Inc. | 16,200 | 2,047,680 |
L.B. Foster Co., Class A | 1,400 | 20,622 |
Lawson Products, Inc. * | 5,500 | 143,055 |
Layne Christensen Co. * | 4,500 | 28,530 |
Lennox International, Inc. | 7,471 | 992,224 |
Lincoln Electric Holdings, Inc. | 13,600 | 813,416 |
Lindsay Corp. (c) | 3,100 | 210,118 |
Lockheed Martin Corp. | 52,635 | 11,570,752 |
Lydall, Inc. * | 5,500 | 188,265 |
Masco Corp. | 69,200 | 2,006,800 |
Masonite International Corp. * | 4,000 | 239,480 |
MasTec, Inc. * | 15,750 | 264,127 |
Meritor, Inc. * | 22,600 | 245,662 |
Moog, Inc., Class A * | 7,587 | 468,573 |
MRC Global, Inc. * | 15,600 | 185,640 |
MSC Industrial Direct Co., Inc., Class A | 12,000 | 753,240 |
Mueller Industries, Inc. | 11,800 | 371,936 |
Mueller Water Products, Inc., Class A | 23,139 | 203,623 |
MYR Group, Inc. * | 8,500 | 191,250 |
National Presto Industries, Inc. | 2,900 | 255,345 |
Navistar International Corp. * | 11,600 | 142,680 |
NCI Building Systems, Inc. * | 14,480 | 151,461 |
NN, Inc. | 1,800 | 24,840 |
Nordson Corp. | 9,500 | 676,780 |
Nortek, Inc. * | 3,200 | 196,320 |
Northrop Grumman Corp. | 37,659 | 7,070,477 |
NOW, Inc. * | 18,205 | 300,565 |
Omega Flex, Inc. | 700 | 28,938 |
Orbital ATK, Inc. | 11,194 | 958,430 |
Oshkosh Corp. | 14,300 | 587,587 |
Owens Corning | 26,800 | 1,220,204 |
PACCAR, Inc. | 67,022 | 3,528,708 |
Parker-Hannifin Corp. | 26,900 | 2,816,430 |
Pentair plc | 34,885 | 1,950,769 |
Powell Industries, Inc. | 2,800 | 93,296 |
Precision Castparts Corp. | 27,002 | 6,232,332 |
Preformed Line Products Co. | 1,000 | 42,500 |
Primoris Services Corp. | 6,900 | 137,448 |
Proto Labs, Inc. * | 4,800 | 311,232 |
Quanex Building Products Corp. | 6,125 | 115,579 |
Quanta Services, Inc. * | 46,271 | 930,510 |
Raven Industries, Inc. | 5,600 | 101,976 |
Raytheon Co. | 60,477 | 7,100,000 |
RBC Bearings, Inc. * | 6,000 | 410,340 |
Regal Beloit Corp. | 8,700 | 554,973 |
Rexnord Corp. * | 29,900 | 552,552 |
Rockwell Automation, Inc. | 28,431 | 3,103,528 |
Rockwell Collins, Inc. | 24,200 | 2,098,624 |
Roper Technologies, Inc. | 20,959 | 3,905,710 |
Rush Enterprises, Inc., Class A * | 8,200 | 199,916 |
Sensata Technologies Holding N.V. * | 34,800 | 1,673,532 |
Security | Number of Shares | Value ($) |
Simpson Manufacturing Co., Inc. | 6,200 | 235,476 |
Snap-on, Inc. | 10,580 | 1,755,116 |
SolarCity Corp. *(c) | 13,500 | 400,275 |
Spirit AeroSystems Holdings, Inc., Class A * | 22,800 | 1,202,472 |
SPX Corp. | 7,110 | 87,098 |
SPX FLOW, Inc. * | 7,110 | 241,029 |
Standex International Corp. | 3,000 | 269,160 |
Stanley Black & Decker, Inc. | 29,213 | 3,095,994 |
Sun Hydraulics Corp. | 5,600 | 164,024 |
TAL International Group, Inc. * | 6,000 | 101,760 |
TASER International, Inc. * | 11,800 | 276,238 |
Teledyne Technologies, Inc. * | 6,757 | 602,927 |
Tennant Co. | 4,200 | 243,264 |
Terex Corp. | 18,400 | 369,104 |
Textainer Group Holdings Ltd. (c) | 9,500 | 185,820 |
Textron, Inc. | 56,100 | 2,365,737 |
The Boeing Co. | 125,636 | 18,602,923 |
The Gorman-Rupp Co. | 5,141 | 146,981 |
The Greenbrier Cos., Inc. (c) | 5,800 | 220,632 |
The KEYW Holding Corp. *(c) | 8,400 | 59,892 |
The Manitowoc Co., Inc. (c) | 23,200 | 354,960 |
The Middleby Corp. * | 11,500 | 1,344,810 |
The Timken Co. | 13,100 | 413,960 |
The Toro Co. | 10,600 | 797,862 |
Thermon Group Holdings, Inc. * | 9,500 | 191,045 |
Titan International, Inc. | 6,925 | 49,168 |
Titan Machinery, Inc. * | 3,600 | 44,028 |
TransDigm Group, Inc. * | 11,800 | 2,594,230 |
Trex Co., Inc. * | 5,400 | 210,978 |
TriMas Corp. * | 9,293 | 185,953 |
Trinity Industries, Inc. | 28,300 | 766,081 |
Triumph Group, Inc. | 8,100 | 377,298 |
Tutor Perini Corp. * | 7,100 | 119,138 |
United Rentals, Inc. * | 18,900 | 1,414,854 |
United Technologies Corp. | 162,928 | 16,033,744 |
Universal Forest Products, Inc. | 4,600 | 334,098 |
USG Corp. * | 16,900 | 398,333 |
Valmont Industries, Inc. | 4,300 | 466,292 |
Vectrus, Inc. * | 1,938 | 48,198 |
Veritiv Corp. * | 1,466 | 61,572 |
Vicor Corp. * | 9,900 | 95,634 |
W.W. Grainger, Inc. | 12,100 | 2,541,000 |
Wabash National Corp. * | 11,200 | 134,064 |
WABCO Holdings, Inc. * | 10,233 | 1,148,450 |
Wabtec Corp. | 19,456 | 1,612,319 |
Watsco, Inc. | 4,200 | 516,726 |
Watts Water Technologies, Inc., Class A | 4,000 | 217,760 |
WESCO International, Inc. * | 8,100 | 396,333 |
Woodward, Inc. | 10,500 | 477,750 |
Xylem, Inc. | 30,500 | 1,110,505 |
331,556,753 | ||
Commercial & Professional Supplies 1.1% | ||
ABM Industries, Inc. | 7,200 | 204,480 |
Acacia Research Corp. | 15,600 | 103,896 |
ACCO Brands Corp. * | 42,001 | 338,948 |
AMREP Corp. * | 2,500 | 11,000 |
ARC Document Solutions, Inc. * | 7,000 | 43,540 |
Brady Corp., Class A | 6,400 | 145,600 |
Security | Number of Shares | Value ($) |
Casella Waste Systems, Inc., Class A * | 13,300 | 80,731 |
CDI Corp. | 5,500 | 44,000 |
CEB, Inc. | 5,500 | 411,180 |
Cenveo, Inc. *(c) | 7,300 | 13,651 |
Cintas Corp. | 19,650 | 1,829,218 |
Clean Harbors, Inc. * | 9,100 | 423,059 |
Compx International, Inc. | 2,000 | 22,480 |
Copart, Inc. * | 27,218 | 985,564 |
Covanta Holding Corp. | 26,400 | 442,464 |
CRA International, Inc. * | 4,200 | 98,280 |
Deluxe Corp. | 7,600 | 452,580 |
Ennis, Inc. | 6,500 | 130,195 |
Equifax, Inc. | 21,895 | 2,333,350 |
Essendant, Inc. | 5,800 | 200,506 |
Exponent, Inc. | 6,600 | 339,306 |
FTI Consulting, Inc. * | 5,700 | 193,857 |
G&K Services, Inc., Class A | 4,100 | 269,862 |
GP Strategies Corp. * | 1,500 | 37,635 |
Healthcare Services Group, Inc. | 12,656 | 471,563 |
Heidrick & Struggles International, Inc. | 5,000 | 132,800 |
Herman Miller, Inc. | 8,700 | 276,051 |
HNI Corp. | 12,700 | 545,338 |
Hudson Global, Inc. * | 3,220 | 7,438 |
Huron Consulting Group, Inc. * | 5,000 | 241,500 |
ICF International, Inc. * | 6,500 | 199,355 |
IHS, Inc., Class A * | 15,200 | 1,817,008 |
InnerWorkings, Inc. * | 7,400 | 55,352 |
Insperity, Inc. | 6,800 | 315,928 |
Interface, Inc. | 8,400 | 164,220 |
KAR Auction Services, Inc. | 29,400 | 1,128,960 |
Kelly Services, Inc., Class A | 5,700 | 90,060 |
Kforce, Inc. | 7,105 | 199,721 |
Kimball International, Inc., Class B | 9,100 | 99,372 |
Knoll, Inc. | 7,000 | 162,680 |
Korn/Ferry International | 6,600 | 240,042 |
ManpowerGroup, Inc. | 14,537 | 1,334,206 |
Mastech Holdings, Inc. * | 675 | 5,434 |
Matthews International Corp., Class A | 5,300 | 305,969 |
McGrath RentCorp | 4,600 | 138,230 |
Mistras Group, Inc. * | 4,000 | 75,680 |
Mobile Mini, Inc. | 14,700 | 503,328 |
MSA Safety, Inc. | 8,700 | 378,276 |
Multi-Color Corp. | 4,625 | 360,010 |
Navigant Consulting, Inc. * | 14,000 | 240,800 |
Nielsen Holdings plc | 75,100 | 3,568,001 |
NL Industries, Inc. * | 7,800 | 27,222 |
On Assignment, Inc. * | 6,500 | 293,215 |
Performant Financial Corp. * | 7,700 | 17,787 |
Pitney Bowes, Inc. | 35,500 | 733,075 |
Quad Graphics, Inc. | 9,800 | 126,420 |
R.R. Donnelley & Sons Co. | 36,638 | 618,083 |
Republic Services, Inc. | 47,845 | 2,092,740 |
Resources Connection, Inc. | 11,300 | 202,835 |
Robert Half International, Inc. | 26,900 | 1,416,554 |
Rollins, Inc. | 21,927 | 588,082 |
RPX Corp. * | 10,300 | 146,672 |
Steelcase, Inc., Class A | 11,500 | 223,215 |
Stericycle, Inc. * | 16,600 | 2,014,742 |
Team, Inc. * | 3,000 | 105,000 |
Security | Number of Shares | Value ($) |
Tetra Tech, Inc. | 13,131 | 353,224 |
The ADT Corp. | 33,866 | 1,118,933 |
The Advisory Board Co. * | 6,800 | 298,044 |
The Brink's Co. | 7,100 | 219,958 |
The Dun & Bradstreet Corp. | 7,840 | 892,741 |
Towers Watson & Co., Class A | 13,600 | 1,680,416 |
TRC Cos., Inc. * | 3,350 | 34,605 |
TriNet Group, Inc. * | 11,600 | 220,168 |
TrueBlue, Inc. * | 10,100 | 292,597 |
Tyco International plc | 80,758 | 2,942,821 |
UniFirst Corp. | 3,700 | 388,759 |
US Ecology, Inc. | 3,500 | 137,235 |
Verisk Analytics, Inc. * | 31,000 | 2,219,910 |
Viad Corp. | 3,625 | 109,149 |
Virco Mfg. Corp. * | 1,170 | 4,235 |
WageWorks, Inc. * | 11,900 | 571,438 |
Waste Connections, Inc. | 26,412 | 1,438,926 |
Waste Management, Inc. | 80,110 | 4,306,714 |
West Corp. | 11,812 | 281,244 |
48,329,463 | ||
Consumer Durables & Apparel 1.6% | ||
Arctic Cat, Inc. | 2,400 | 49,296 |
Beazer Homes USA, Inc. * | 10,835 | 154,290 |
Brunswick Corp. | 18,400 | 990,104 |
CalAtlantic Group, Inc. * | 12,527 | 477,153 |
Callaway Golf Co. | 31,065 | 309,097 |
Carter's, Inc. | 9,400 | 854,272 |
Cavco Industries, Inc. * | 1,610 | 158,746 |
Coach, Inc. | 52,508 | 1,638,250 |
Columbia Sportswear Co. | 6,900 | 378,465 |
Crocs, Inc. * | 15,000 | 162,000 |
CSS Industries, Inc. | 4,800 | 131,040 |
D.R. Horton, Inc. | 64,190 | 1,889,754 |
Deckers Outdoor Corp. * | 7,500 | 417,450 |
Ethan Allen Interiors, Inc. | 10,200 | 277,542 |
Flexsteel Industries, Inc. | 1,900 | 82,631 |
Foamex International, Inc. *(b)(e) | 2,278 | — |
Fossil Group, Inc. * | 7,662 | 416,889 |
G-III Apparel Group Ltd. * | 11,300 | 622,517 |
Garmin Ltd. | 22,300 | 790,981 |
GoPro, Inc., Class A *(c) | 15,000 | 375,000 |
Hanesbrands, Inc. | 78,188 | 2,497,325 |
Harman International Industries, Inc. | 13,600 | 1,495,456 |
Hasbro, Inc. | 22,600 | 1,736,358 |
Helen of Troy Ltd. * | 5,000 | 496,050 |
Hovnanian Enterprises, Inc., Class A *(c) | 50,500 | 104,030 |
Iconix Brand Group, Inc. * | 9,600 | 147,072 |
iRobot Corp. * | 7,300 | 219,073 |
JAKKS Pacific, Inc. *(c) | 7,500 | 59,400 |
Jarden Corp. * | 40,149 | 1,798,675 |
Kate Spade & Co. * | 27,500 | 494,175 |
KB Home | 19,700 | 258,070 |
La-Z-Boy, Inc. | 7,500 | 214,125 |
LeapFrog Enterprises, Inc. * | 9,000 | 7,200 |
Leggett & Platt, Inc. | 28,300 | 1,274,349 |
Lennar Corp., Class A | 36,290 | 1,817,040 |
Libbey, Inc. | 7,232 | 243,285 |
lululemon athletica, Inc. * | 20,157 | 991,120 |
Security | Number of Shares | Value ($) |
M.D.C. Holdings, Inc. | 9,003 | 233,988 |
M/I Homes, Inc. * | 3,000 | 68,850 |
Marine Products Corp. | 405 | 2,863 |
Mattel, Inc. | 66,200 | 1,627,196 |
Meritage Homes Corp. * | 5,900 | 208,034 |
Michael Kors Holdings Ltd. * | 38,700 | 1,495,368 |
Mohawk Industries, Inc. * | 12,319 | 2,408,365 |
Movado Group, Inc. | 5,800 | 149,292 |
NACCO Industries, Inc., Class A | 1,900 | 85,177 |
Nautilus, Inc. * | 9,825 | 167,418 |
Newell Rubbermaid, Inc. | 54,900 | 2,329,407 |
NIKE, Inc., Class B | 131,495 | 17,229,790 |
NVR, Inc. * | 700 | 1,146,432 |
Oxford Industries, Inc. | 2,500 | 182,050 |
Perry Ellis International, Inc. * | 5,500 | 118,085 |
Polaris Industries, Inc. | 11,781 | 1,323,478 |
PulteGroup, Inc. | 68,976 | 1,264,330 |
PVH Corp. | 16,411 | 1,492,580 |
Ralph Lauren Corp. | 12,400 | 1,373,548 |
Skechers U.S.A., Inc., Class A * | 25,800 | 804,960 |
Skyline Corp. * | 2,600 | 9,100 |
Smith & Wesson Holding Corp. * | 12,400 | 221,464 |
Stanley Furniture Co., Inc. * | 6,875 | 19,319 |
Steven Madden Ltd. * | 9,112 | 317,553 |
Sturm, Ruger & Co., Inc. | 2,700 | 153,738 |
Superior Uniform Group, Inc. | 3,200 | 54,528 |
Taylor Morrison Home Corp., Class A * | 9,876 | 182,015 |
Tempur Sealy International, Inc. * | 13,900 | 1,081,976 |
Toll Brothers, Inc. * | 31,200 | 1,122,264 |
TopBuild Corp. * | 7,688 | 216,263 |
TRI Pointe Group, Inc. * | 25,000 | 324,500 |
Tumi Holdings, Inc. * | 9,200 | 147,476 |
Tupperware Brands Corp. | 9,700 | 571,039 |
Under Armour, Inc., Class A * | 34,300 | 3,261,244 |
Universal Electronics, Inc. * | 5,200 | 247,364 |
Vera Bradley, Inc. * | 11,000 | 137,610 |
VF Corp. | 66,900 | 4,517,088 |
Vince Holding Corp. * | 5,757 | 26,194 |
Vista Outdoor, Inc. * | 11,074 | 495,229 |
Whirlpool Corp. | 14,914 | 2,388,328 |
Wolverine World Wide, Inc. | 27,500 | 510,675 |
73,744,458 | ||
Consumer Services 2.3% | ||
American Public Education, Inc. * | 5,600 | 121,688 |
Apollo Education Group, Inc. * | 16,450 | 119,427 |
Aramark | 46,800 | 1,420,380 |
Ascent Capital Group, Inc., Class A * | 3,116 | 67,866 |
Belmond Ltd., Class A * | 12,600 | 135,324 |
Biglari Holdings, Inc. * | 279 | 107,172 |
BJ's Restaurants, Inc. * | 7,300 | 313,389 |
Bloomin' Brands, Inc. | 20,900 | 354,673 |
Bob Evans Farms, Inc. | 4,200 | 181,734 |
Boyd Gaming Corp. * | 21,300 | 425,787 |
Bridgepoint Education, Inc. * | 13,700 | 106,175 |
Bright Horizons Family Solutions, Inc. * | 4,912 | 314,466 |
Brinker International, Inc. | 12,650 | 575,702 |
Buffalo Wild Wings, Inc. * | 4,800 | 740,496 |
Security | Number of Shares | Value ($) |
Caesars Entertainment Corp. *(c) | 8,300 | 66,815 |
Career Education Corp. * | 25,114 | 90,662 |
Carnival Corp. | 89,239 | 4,826,045 |
Chipotle Mexican Grill, Inc. * | 6,179 | 3,955,981 |
Choice Hotels International, Inc. | 5,200 | 272,012 |
Churchill Downs, Inc. | 2,900 | 425,807 |
Chuy's Holdings, Inc. * | 6,760 | 183,940 |
ClubCorp Holdings, Inc. | 10,442 | 213,435 |
Cracker Barrel Old Country Store, Inc. (c) | 5,146 | 707,369 |
Darden Restaurants, Inc. | 25,500 | 1,578,195 |
Denny's Corp. * | 21,100 | 231,256 |
DeVry Education Group, Inc. | 9,400 | 221,464 |
Diamond Resorts International, Inc. * | 12,100 | 344,124 |
DineEquity, Inc. | 3,000 | 250,350 |
Domino's Pizza, Inc. | 9,200 | 981,364 |
Dover Downs Gaming & Entertainment, Inc. * | 5,899 | 5,899 |
Dover Motorsports, Inc. | 1,400 | 3,150 |
Dunkin' Brands Group, Inc. | 21,600 | 894,456 |
Eldorado Resorts, Inc. * | 5,800 | 57,420 |
Extended Stay America, Inc. | 13,200 | 253,440 |
Fiesta Restaurant Group, Inc. * | 4,300 | 152,048 |
Golden Entertainment, Inc. * | 3,400 | 31,790 |
Graham Holdings Co., Class B | 900 | 497,223 |
Grand Canyon Education, Inc. * | 8,500 | 353,260 |
H&R Block, Inc. | 54,700 | 2,038,122 |
Hilton Worldwide Holdings, Inc. | 103,347 | 2,582,642 |
Houghton Mifflin Harcourt Co. * | 19,600 | 383,964 |
Hyatt Hotels Corp., Class A * | 9,600 | 483,840 |
International Speedway Corp., Class A | 6,445 | 223,577 |
Interval Leisure Group, Inc. | 10,769 | 190,073 |
Isle of Capri Casinos, Inc. * | 11,800 | 225,734 |
ITT Educational Services, Inc. *(c) | 5,600 | 18,480 |
J Alexander's Holdings, Inc. * | 2,846 | 27,435 |
Jack in the Box, Inc. | 7,000 | 521,710 |
K12, Inc. * | 12,100 | 117,491 |
Krispy Kreme Doughnuts, Inc. * | 14,100 | 193,029 |
La Quinta Holdings, Inc. * | 15,800 | 239,370 |
Las Vegas Sands Corp. | 74,000 | 3,663,740 |
LifeLock, Inc. *(c) | 11,000 | 154,110 |
Luby's, Inc. * | 6,900 | 32,154 |
Marriott International, Inc., Class A | 39,208 | 3,010,390 |
Marriott Vacations Worldwide Corp. | 4,080 | 262,752 |
McDonald's Corp. | 183,940 | 20,647,265 |
MGM Resorts International * | 95,500 | 2,214,645 |
Monarch Casino & Resort, Inc. * | 8,000 | 175,520 |
Norwegian Cruise Line Holdings Ltd. * | 28,300 | 1,800,446 |
Panera Bread Co., Class A * | 5,600 | 993,272 |
Papa John's International, Inc. | 6,800 | 477,156 |
Penn National Gaming, Inc. * | 17,000 | 303,620 |
Pinnacle Entertainment, Inc. * | 9,800 | 343,098 |
Popeyes Louisiana Kitchen, Inc. * | 6,600 | 372,504 |
Red Robin Gourmet Burgers, Inc. * | 2,300 | 172,247 |
Regis Corp. * | 17,300 | 285,796 |
Royal Caribbean Cruises Ltd. | 34,300 | 3,373,405 |
Ruby Tuesday, Inc. * | 33,713 | 176,319 |
Scientific Games Corp., Class A *(c) | 10,900 | 120,881 |
SeaWorld Entertainment, Inc. | 12,511 | 249,344 |
Security | Number of Shares | Value ($) |
Service Corp. International | 35,000 | 989,100 |
ServiceMaster Global Holdings, Inc. * | 23,500 | 837,775 |
Six Flags Entertainment Corp. | 15,600 | 811,824 |
Sonic Corp. | 12,868 | 367,253 |
Sotheby's | 11,338 | 392,862 |
Speedway Motorsports, Inc. | 6,700 | 123,749 |
Starbucks Corp. | 288,094 | 18,026,042 |
Starwood Hotels & Resorts Worldwide, Inc. | 33,230 | 2,654,080 |
Steiner Leisure Ltd. * | 3,000 | 190,080 |
Strayer Education, Inc. * | 4,300 | 227,556 |
Texas Roadhouse, Inc. | 16,100 | 553,035 |
The Cheesecake Factory, Inc. | 7,087 | 341,593 |
The Wendy's Co. | 50,775 | 465,099 |
Vail Resorts, Inc. | 7,500 | 856,275 |
Weight Watchers International, Inc. *(c) | 6,500 | 99,970 |
Wyndham Worldwide Corp. | 23,044 | 1,874,629 |
Wynn Resorts Ltd. (c) | 15,600 | 1,091,220 |
Yum! Brands, Inc. | 85,200 | 6,041,532 |
103,599,589 | ||
Diversified Financials 4.6% | ||
Affiliated Managers Group, Inc. * | 11,217 | 2,021,976 |
Ally Financial, Inc. * | 85,600 | 1,705,152 |
American Express Co. | 164,803 | 12,073,468 |
Ameriprise Financial, Inc. | 35,830 | 4,133,349 |
Arlington Asset Investment Corp., Class A | 6,941 | 96,133 |
Artisan Partners Asset Management, Inc., Class A | 5,500 | 210,375 |
Ashford, Inc. * | 103 | 6,618 |
Asta Funding, Inc. * | 6,000 | 51,600 |
Atlanticus Holdings Corp. * | 4,629 | 13,980 |
Berkshire Hathaway, Inc., Class B * | 368,002 | 50,055,632 |
BGC Partners, Inc., Class A | 28,300 | 244,795 |
BlackRock, Inc. | 25,032 | 8,810,513 |
Calamos Asset Management, Inc., Class A | 5,000 | 46,950 |
Capital One Financial Corp. | 105,257 | 8,304,777 |
Cash America International, Inc. | 6,900 | 238,257 |
CBOE Holdings, Inc. | 20,800 | 1,394,432 |
CME Group, Inc. | 66,950 | 6,324,766 |
Cohen & Steers, Inc. | 5,400 | 165,186 |
Cowen Group, Inc., Class A * | 11,889 | 50,053 |
Credit Acceptance Corp. * | 2,100 | 397,089 |
Discover Financial Services | 88,507 | 4,975,864 |
E*TRADE Financial Corp. * | 53,233 | 1,517,673 |
Eaton Vance Corp. | 22,700 | 819,697 |
Encore Capital Group, Inc. *(c) | 5,600 | 227,920 |
Enova International, Inc. * | 6,313 | 82,069 |
Evercore Partners, Inc., Class A | 6,500 | 351,000 |
Ezcorp, Inc., Class A * | 20,600 | 137,196 |
FactSet Research Systems, Inc. | 6,650 | 1,164,548 |
FBR & Co. | 1,000 | 19,780 |
Federated Investors, Inc., Class B | 14,650 | 450,194 |
Financial Engines, Inc. (c) | 7,800 | 250,848 |
First Cash Financial Services, Inc. * | 3,800 | 144,970 |
FNFV Group * | 16,478 | 185,213 |
Franklin Resources, Inc. | 74,800 | 3,048,848 |
Security | Number of Shares | Value ($) |
FXCM, Inc., Class A (c) | 1,407 | 12,185 |
GAMCO Investors, Inc., Class A | 3,400 | 196,112 |
Green Dot Corp., Class A * | 10,049 | 186,308 |
Greenhill & Co., Inc. | 4,500 | 116,190 |
HFF, Inc., Class A | 9,800 | 338,296 |
Interactive Brokers Group, Inc., Class A | 13,600 | 559,504 |
Intercontinental Exchange, Inc. | 21,886 | 5,524,026 |
INTL FCStone, Inc. * | 4,437 | 141,940 |
Invesco Ltd. | 88,200 | 2,925,594 |
Investment Technology Group, Inc. | 8,050 | 128,881 |
Janus Capital Group, Inc. | 26,200 | 406,886 |
KCG Holdings, Inc., Class A * | 15,533 | 194,007 |
Lazard Ltd., Class A | 28,600 | 1,324,752 |
Legg Mason, Inc. | 17,550 | 785,362 |
LendingClub Corp. * | 51,500 | 730,270 |
Leucadia National Corp. | 57,450 | 1,149,574 |
LPL Financial Holdings, Inc. (c) | 12,800 | 545,280 |
MarketAxess Holdings, Inc. | 8,900 | 901,659 |
McGraw Hill Financial, Inc. | 52,461 | 4,859,987 |
Moody's Corp. | 33,600 | 3,230,976 |
Morgan Stanley | 292,525 | 9,644,549 |
Morningstar, Inc. | 5,500 | 451,605 |
MSCI, Inc. | 20,000 | 1,340,000 |
Nasdaq, Inc. | 26,100 | 1,510,929 |
Navient Corp. | 72,000 | 949,680 |
Nelnet, Inc., Class A | 6,400 | 228,992 |
NewStar Financial, Inc. * | 13,500 | 142,425 |
Northern Trust Corp. | 45,100 | 3,174,589 |
NorthStar Asset Management Group, Inc. | 33,475 | 489,739 |
PICO Holdings, Inc. * | 3,700 | 35,742 |
Piper Jaffray Cos. * | 3,950 | 140,501 |
PRA Group, Inc. * | 9,800 | 537,040 |
Raymond James Financial, Inc. | 30,750 | 1,694,632 |
RCS Capital Corp., Class A *(c) | 9,017 | 6,836 |
Resource America, Inc., Class A | 4,000 | 30,760 |
Santander Consumer USA Holdings, Inc. * | 24,000 | 432,240 |
SEI Investments Co. | 31,100 | 1,611,602 |
SLM Corp. * | 72,000 | 508,320 |
Springleaf Holdings, Inc. * | 10,500 | 492,555 |
State Street Corp. | 78,960 | 5,448,240 |
Stifel Financial Corp. * | 11,785 | 523,608 |
Synchrony Financial *(c) | 21,900 | 673,644 |
T. Rowe Price Group, Inc. | 49,500 | 3,743,190 |
TD Ameritrade Holding Corp. | 56,600 | 1,951,002 |
The Bank of New York Mellon Corp. | 213,318 | 8,884,695 |
The Charles Schwab Corp. (a) | 240,126 | 7,328,646 |
The First Marblehead Corp. * | 750 | 2,633 |
The Goldman Sachs Group, Inc. | 79,655 | 14,935,312 |
Virtus Investment Partners, Inc. | 875 | 102,410 |
Voya Financial, Inc. | 45,389 | 1,841,432 |
Waddell & Reed Financial, Inc., Class A | 14,750 | 544,865 |
Westwood Holdings Group, Inc. | 1,785 | 103,709 |
WisdomTree Investments, Inc. | 20,500 | 394,215 |
World Acceptance Corp. *(c) | 3,000 | 114,390 |
203,993,437 |
Security | Number of Shares | Value ($) |
Energy 6.5% | ||
Abraxas Petroleum Corp. * | 36,200 | 57,558 |
Adams Resources & Energy, Inc. | 2,300 | 102,258 |
Alon USA Energy, Inc. | 8,700 | 145,725 |
Anadarko Petroleum Corp. | 99,168 | 6,632,356 |
Antero Resources Corp. *(c) | 27,800 | 655,246 |
Apache Corp. | 71,572 | 3,373,188 |
Approach Resources, Inc. *(c) | 4,000 | 9,440 |
Arch Coal, Inc. *(c) | 2,650 | 3,975 |
Atwood Oceanics, Inc. | 9,500 | 157,225 |
Baker Hughes, Inc. | 83,465 | 4,396,936 |
Basic Energy Services, Inc. *(c) | 8,500 | 31,535 |
Bill Barrett Corp. * | 6,700 | 32,629 |
Bonanza Creek Energy, Inc. * | 6,200 | 35,278 |
Bristow Group, Inc. | 6,000 | 208,380 |
C&J Energy Services Ltd. *(c) | 10,200 | 50,898 |
Cabot Oil & Gas Corp. | 86,400 | 1,875,744 |
California Resources Corp. | 55,701 | 225,032 |
Callon Petroleum Co. * | 18,200 | 157,976 |
Cameron International Corp. * | 39,247 | 2,669,189 |
CARBO Ceramics, Inc. (c) | 3,300 | 57,816 |
Carrizo Oil & Gas, Inc. * | 13,100 | 492,953 |
Cheniere Energy, Inc. * | 46,200 | 2,287,824 |
Chesapeake Energy Corp. (c) | 102,430 | 730,326 |
Chevron Corp. | 369,023 | 33,536,810 |
Cimarex Energy Co. | 20,162 | 2,380,326 |
Clayton Williams Energy, Inc. * | 2,500 | 148,925 |
Clean Energy Fuels Corp. *(c) | 17,300 | 97,745 |
Cloud Peak Energy, Inc. * | 8,700 | 25,839 |
Cobalt International Energy, Inc. * | 75,700 | 580,619 |
Columbia Pipeline Group, Inc. | 65,764 | 1,365,918 |
Comstock Resources, Inc. (c) | 6,400 | 14,720 |
Concho Resources, Inc. * | 26,831 | 3,109,981 |
ConocoPhillips | 237,731 | 12,682,949 |
CONSOL Energy, Inc. | 44,600 | 297,036 |
Contango Oil & Gas Co. * | 5,200 | 39,780 |
Continental Resources, Inc. * | 17,000 | 576,470 |
Core Laboratories N.V. | 9,800 | 1,140,034 |
CVR Energy, Inc. | 5,100 | 226,746 |
Delek US Holdings, Inc. | 10,700 | 291,040 |
Denbury Resources, Inc. (c) | 57,225 | 202,577 |
Devon Energy Corp. | 74,260 | 3,113,722 |
DHT Holdings, Inc. | 26,011 | 204,446 |
Diamond Offshore Drilling, Inc. (c) | 11,400 | 226,632 |
Diamondback Energy, Inc. * | 13,721 | 1,013,159 |
Dril-Quip, Inc. * | 6,700 | 412,452 |
Energen Corp. | 17,500 | 1,017,625 |
Energy XXI Ltd. (c) | 15,061 | 26,056 |
ENGlobal Corp. * | 4,000 | 4,160 |
Ensco plc, Class A | 57,100 | 949,573 |
EOG Resources, Inc. | 106,048 | 9,104,221 |
EP Energy Corp., Class A *(c) | 19,147 | 105,500 |
EQT Corp. | 28,600 | 1,889,602 |
Era Group, Inc. * | 2,850 | 39,644 |
EXCO Resources, Inc. *(c) | 51,400 | 57,568 |
Exterran Holdings, Inc. | 10,720 | 233,053 |
Exxon Mobil Corp. | 819,399 | 67,797,073 |
FMC Technologies, Inc. * | 46,764 | 1,582,026 |
Forum Energy Technologies, Inc. * | 11,200 | 148,400 |
Frank's International N.V. | 14,000 | 240,240 |
Geospace Technologies Corp. * | 1,800 | 27,648 |
Security | Number of Shares | Value ($) |
Goodrich Petroleum Corp. *(c) | 9,800 | 5,880 |
Green Plains, Inc. | 9,300 | 190,743 |
Gulf Island Fabrication, Inc. | 4,100 | 41,451 |
Gulfmark Offshore, Inc., Class A (c) | 4,100 | 25,584 |
Gulfport Energy Corp. * | 24,003 | 731,371 |
Halcon Resources Corp. * | 75,700 | 53,073 |
Halliburton Co. | 166,144 | 6,376,607 |
Harvest Natural Resources, Inc. * | 9,300 | 9,207 |
Helix Energy Solutions Group, Inc. * | 14,064 | 81,290 |
Helmerich & Payne, Inc. | 19,017 | 1,070,087 |
Hess Corp. | 47,300 | 2,658,733 |
HollyFrontier Corp. | 38,654 | 1,892,886 |
Hornbeck Offshore Services, Inc. * | 5,000 | 67,550 |
Houston American Energy Corp. * | 4,000 | 680 |
ION Geophysical Corp. * | 13,900 | 5,143 |
Key Energy Services, Inc. * | 22,300 | 11,716 |
Kinder Morgan, Inc. | 356,678 | 9,755,143 |
Kosmos Energy Ltd. * | 31,100 | 212,102 |
Laredo Petroleum, Inc. *(c) | 22,700 | 260,596 |
Magnum Hunter Resources Corp. * | 22,939 | 6,106 |
Marathon Oil Corp. | 130,614 | 2,400,685 |
Marathon Petroleum Corp. | 105,008 | 5,439,414 |
Matador Resources Co. * | 12,100 | 311,091 |
Matrix Service Co. * | 8,000 | 181,600 |
McDermott International, Inc. * | 39,100 | 180,251 |
Memorial Resource Development Corp. * | 16,000 | 283,040 |
Midstates Petroleum Co., Inc. * | 1,440 | 5,544 |
Murphy Oil Corp. | 29,000 | 824,470 |
Nabors Industries Ltd. | 70,734 | 710,169 |
National Oilwell Varco, Inc. | 72,822 | 2,741,020 |
Natural Gas Services Group, Inc. * | 7,500 | 168,900 |
Newfield Exploration Co. * | 33,100 | 1,330,289 |
Newpark Resources, Inc. * | 11,500 | 65,090 |
Noble Corp., plc (c) | 46,155 | 621,708 |
Noble Energy, Inc. | 87,679 | 3,142,415 |
Northern Oil & Gas, Inc. *(c) | 8,200 | 41,328 |
Oasis Petroleum, Inc. * | 24,200 | 281,446 |
Occidental Petroleum Corp. | 149,753 | 11,162,589 |
Oceaneering International, Inc. | 23,100 | 970,662 |
Oil States International, Inc. * | 8,600 | 258,086 |
ONEOK, Inc. | 45,929 | 1,557,912 |
Pacific Ethanol, Inc. * | 10,200 | 61,302 |
Panhandle Oil & Gas, Inc., Class A | 6,200 | 113,956 |
Paragon Offshore plc | 15,385 | 3,692 |
Parker Drilling Co. * | 18,300 | 52,338 |
Parsley Energy, Inc., Class A * | 17,000 | 301,410 |
Patterson-UTI Energy, Inc. | 28,500 | 424,365 |
PBF Energy, Inc., Class A | 21,913 | 745,042 |
PDC Energy, Inc. * | 9,300 | 561,162 |
Peabody Energy Corp. (c) | 3,120 | 39,905 |
Penn Virginia Corp. * | 12,200 | 7,551 |
PetroQuest Energy, Inc. * | 13,200 | 14,784 |
PHI, Inc. - Non Voting Shares * | 4,000 | 76,160 |
Phillips 66 | 92,165 | 8,207,293 |
Pioneer Energy Services Corp. * | 13,100 | 30,261 |
Pioneer Natural Resources Co. | 29,633 | 4,063,870 |
QEP Resources, Inc. | 30,600 | 473,076 |
Range Resources Corp. | 30,805 | 937,704 |
Resolute Energy Corp. * | 11,900 | 5,593 |
REX American Resources Corp. * | 4,875 | 267,686 |
Rex Energy Corp. *(c) | 8,000 | 18,080 |
Security | Number of Shares | Value ($) |
Rice Energy, Inc. * | 12,036 | 183,669 |
RigNet, Inc. * | 4,141 | 124,230 |
Rowan Cos. plc, Class A | 20,500 | 403,440 |
RPC, Inc. | 16,118 | 177,782 |
RSP Permian, Inc. * | 12,800 | 350,976 |
Sanchez Energy Corp. *(c) | 8,700 | 51,765 |
SandRidge Energy, Inc. * | 72,792 | 26,955 |
Schlumberger Ltd. | 246,103 | 19,235,411 |
SEACOR Holdings, Inc. * | 4,850 | 283,337 |
SemGroup Corp., Class A | 7,000 | 318,850 |
Seventy Seven Energy, Inc. * | 6,366 | 7,257 |
SM Energy Co. | 11,200 | 373,520 |
Solazyme, Inc. *(c) | 12,100 | 39,688 |
Southwestern Energy Co. * | 79,675 | 879,612 |
Spectra Energy Corp. | 124,778 | 3,564,907 |
Stone Energy Corp. * | 7,383 | 41,271 |
Superior Energy Services, Inc. | 26,099 | 369,562 |
Swift Energy Co. * | 5,500 | 3,282 |
Synergy Resources Corp. * | 11,100 | 124,209 |
Targa Resources Corp. | 8,300 | 474,345 |
Teekay Corp. | 8,600 | 276,318 |
Tesco Corp. | 7,000 | 56,000 |
Tesoro Corp. | 24,700 | 2,641,171 |
TETRA Technologies, Inc. * | 12,100 | 81,554 |
The Williams Cos., Inc. | 138,600 | 5,466,384 |
Tidewater, Inc. (c) | 7,700 | 95,095 |
Transocean Ltd. (c) | 67,500 | 1,068,525 |
Ultra Petroleum Corp. *(c) | 25,300 | 138,644 |
Unit Corp. * | 7,400 | 93,314 |
US Silica Holdings, Inc. (c) | 10,600 | 191,436 |
VAALCO Energy, Inc. * | 12,600 | 23,184 |
Valero Energy Corp. | 98,280 | 6,478,618 |
W&T Offshore, Inc. (c) | 7,500 | 24,450 |
Warren Resources, Inc. * | 22,100 | 9,967 |
Weatherford International plc * | 155,549 | 1,592,822 |
Western Refining, Inc. | 12,253 | 509,970 |
Westmoreland Coal Co. *(c) | 9,600 | 68,736 |
Whiting Petroleum Corp. * | 42,070 | 724,866 |
World Fuel Services Corp. | 11,900 | 529,074 |
WPX Energy, Inc. * | 33,353 | 228,802 |
289,171,687 | ||
Food & Staples Retailing 1.9% | ||
Casey's General Stores, Inc. | 7,100 | 754,162 |
Costco Wholesale Corp. | 86,285 | 13,643,384 |
CVS Health Corp. | 218,937 | 21,626,597 |
Ingles Markets, Inc., Class A | 4,200 | 209,748 |
PriceSmart, Inc. | 7,100 | 610,458 |
Rite Aid Corp. * | 201,480 | 1,587,662 |
SpartanNash, Co. | 12,540 | 349,866 |
Sprouts Farmers Market, Inc. * | 26,674 | 543,616 |
SUPERVALU, Inc. * | 39,532 | 259,725 |
Sysco Corp. | 107,836 | 4,448,235 |
The Andersons, Inc. | 3,600 | 127,440 |
The Fresh Market, Inc. * | 11,100 | 276,612 |
The Kroger Co. | 189,232 | 7,152,970 |
United Natural Foods, Inc. * | 8,800 | 443,960 |
Wal-Mart Stores, Inc. | 310,489 | 17,772,390 |
Walgreens Boots Alliance, Inc. | 172,608 | 14,616,446 |
Security | Number of Shares | Value ($) |
Weis Markets, Inc. | 2,400 | 98,736 |
Whole Foods Market, Inc. | 70,777 | 2,120,479 |
86,642,486 | ||
Food, Beverage & Tobacco 4.8% | ||
Alico, Inc. | 2,000 | 85,380 |
Alliance One International, Inc. * | 2,460 | 43,296 |
Altria Group, Inc. | 381,823 | 23,088,837 |
Archer-Daniels-Midland Co. | 117,358 | 5,358,566 |
B&G Foods, Inc. | 15,000 | 544,350 |
Boulder Brands, Inc. *(c) | 9,100 | 80,626 |
Brown-Forman Corp., Class A (c) | 5,000 | 573,750 |
Brown-Forman Corp., Class B | 22,116 | 2,348,277 |
Bunge Ltd. | 26,700 | 1,948,032 |
Cal-Maine Foods, Inc. (c) | 5,200 | 277,992 |
Calavo Growers, Inc. | 4,846 | 249,133 |
Campbell Soup Co. | 34,100 | 1,731,939 |
Coca-Cola Bottling Co. Consolidated | 1,248 | 263,590 |
Coca-Cola Enterprises, Inc. | 41,600 | 2,135,744 |
ConAgra Foods, Inc. | 88,393 | 3,584,336 |
Constellation Brands, Inc., Class A | 33,769 | 4,552,061 |
Darling Ingredients, Inc. * | 25,900 | 262,108 |
Dean Foods Co. | 13,556 | 245,499 |
Diamond Foods, Inc. * | 5,200 | 206,024 |
Dr Pepper Snapple Group, Inc. | 36,900 | 3,297,753 |
Farmer Bros. Co. * | 4,500 | 127,710 |
Flowers Foods, Inc. | 44,605 | 1,204,335 |
Fresh Del Monte Produce, Inc. | 7,900 | 360,477 |
General Mills, Inc. | 115,838 | 6,731,346 |
Hormel Foods Corp. | 27,400 | 1,850,870 |
Ingredion, Inc. | 15,700 | 1,492,442 |
J&J Snack Foods Corp. | 2,093 | 256,999 |
John B. Sanfilippo & Son, Inc. | 5,000 | 323,600 |
Kellogg Co. | 47,400 | 3,342,648 |
Keurig Green Mountain, Inc. | 23,250 | 1,179,938 |
Lancaster Colony Corp. | 3,400 | 386,648 |
Landec Corp. * | 9,100 | 111,930 |
Limoneira Co. (c) | 2,900 | 45,994 |
McCormick & Co., Inc. - Non Voting Shares | 25,100 | 2,107,898 |
Mead Johnson Nutrition Co. | 39,500 | 3,239,000 |
Molson Coors Brewing Co., Class B | 31,500 | 2,775,150 |
Mondelez International, Inc., Class A | 315,924 | 14,583,052 |
Monster Beverage Corp. * | 29,589 | 4,033,572 |
National Beverage Corp. * | 6,400 | 240,896 |
PepsiCo, Inc. | 287,358 | 29,365,114 |
Philip Morris International, Inc. | 304,009 | 26,874,396 |
Pilgrim's Pride Corp. (c) | 12,466 | 236,729 |
Pinnacle Foods, Inc. | 23,600 | 1,040,288 |
Post Holdings, Inc. * | 11,950 | 768,027 |
Primo Water Corp. * | 1,000 | 8,800 |
Reynolds American, Inc. | 160,206 | 7,741,154 |
Rocky Mountain Chocolate Factory, Inc. | 3,427 | 37,903 |
Sanderson Farms, Inc. (c) | 2,850 | 198,104 |
Seaboard Corp. * | 100 | 336,800 |
Snyder's-Lance, Inc. | 8,900 | 316,306 |
The Boston Beer Co., Inc., Class A *(c) | 2,100 | 461,139 |
Security | Number of Shares | Value ($) |
The Coca-Cola Co. | 764,614 | 32,381,403 |
The Hain Celestial Group, Inc. * | 19,412 | 967,688 |
The Hershey Co. | 27,800 | 2,465,582 |
The JM Smucker Co. | 24,293 | 2,851,755 |
The Kraft Heinz Co. | 116,804 | 9,107,208 |
The WhiteWave Foods Co. * | 31,825 | 1,304,189 |
Tootsie Roll Industries, Inc. (c) | 7,818 | 248,143 |
TreeHouse Foods, Inc. * | 8,622 | 738,388 |
Tyson Foods, Inc., Class A | 59,084 | 2,620,966 |
Universal Corp. | 4,800 | 259,248 |
Vector Group Ltd. | 15,869 | 384,823 |
215,985,951 | ||
Health Care Equipment & Services 4.9% | ||
Abaxis, Inc. | 5,600 | 281,176 |
Abbott Laboratories | 294,243 | 13,182,086 |
ABIOMED, Inc. * | 7,800 | 574,548 |
Acadia Healthcare Co., Inc. * | 12,500 | 767,625 |
Accuray, Inc. * | 21,200 | 142,040 |
Aceto Corp. | 7,900 | 238,264 |
Aetna, Inc. | 67,385 | 7,734,450 |
Air Methods Corp. * | 8,700 | 356,091 |
Alere, Inc. * | 18,541 | 855,111 |
Align Technology, Inc. * | 16,400 | 1,073,544 |
Alliance HealthCare Services, Inc. * | 360 | 3,046 |
Allscripts Healthcare Solutions, Inc. * | 31,560 | 443,734 |
Amedisys, Inc. * | 10,834 | 428,810 |
AmerisourceBergen Corp. | 39,596 | 3,821,410 |
AMN Healthcare Services, Inc. * | 11,210 | 318,028 |
Amsurg Corp. * | 10,700 | 749,963 |
Analogic Corp. | 2,700 | 236,574 |
Anika Therapeutics, Inc. * | 4,606 | 177,423 |
Antares Pharma, Inc. * | 28,100 | 38,778 |
Anthem, Inc. | 50,323 | 7,002,445 |
athenahealth, Inc. * | 7,800 | 1,189,110 |
Atrion Corp. | 616 | 227,304 |
Baxter International, Inc. | 105,806 | 3,956,086 |
Becton, Dickinson & Co. | 39,908 | 5,687,688 |
BioScrip, Inc. *(c) | 8,372 | 16,493 |
Boston Scientific Corp. * | 255,567 | 4,671,765 |
Brookdale Senior Living, Inc. * | 33,925 | 709,372 |
C.R. Bard, Inc. | 13,760 | 2,564,176 |
Cantel Medical Corp. | 8,034 | 476,256 |
Capital Senior Living Corp. * | 8,394 | 189,872 |
Cardinal Health, Inc. | 61,818 | 5,081,440 |
Cardiovascular Systems, Inc. * | 5,000 | 68,500 |
Centene Corp. * | 22,000 | 1,308,560 |
Cerner Corp. * | 62,800 | 4,163,012 |
Chemed Corp. | 3,900 | 613,431 |
Cigna Corp. | 50,451 | 6,762,452 |
Community Health Systems, Inc. * | 23,796 | 667,240 |
Computer Programs & Systems, Inc. | 3,600 | 136,836 |
CONMED Corp. | 7,300 | 296,088 |
CorVel Corp. * | 2,700 | 89,640 |
Cross Country Healthcare, Inc. * | 12,500 | 168,750 |
CryoLife, Inc. | 9,050 | 95,387 |
DaVita HealthCare Partners, Inc. * | 34,300 | 2,658,593 |
DENTSPLY International, Inc. | 32,300 | 1,965,455 |
DexCom, Inc. * | 16,500 | 1,374,780 |
Security | Number of Shares | Value ($) |
Diplomat Pharmacy, Inc. * | 9,000 | 252,990 |
Edwards Lifesciences Corp. * | 21,200 | 3,331,580 |
Endologix, Inc. * | 13,700 | 116,998 |
Envision Healthcare Holdings, Inc. * | 38,000 | 1,071,600 |
ExamWorks Group, Inc. * | 6,200 | 175,088 |
Express Scripts Holding Co. * | 133,352 | 11,518,946 |
Five Star Quality Care, Inc. * | 14,335 | 46,875 |
Globus Medical, Inc., Class A * | 13,900 | 310,665 |
Greatbatch, Inc. * | 6,700 | 358,115 |
Haemonetics Corp. * | 16,300 | 550,614 |
Halyard Health, Inc. * | 8,217 | 243,881 |
Hanger, Inc. * | 5,400 | 77,868 |
HCA Holdings, Inc. * | 64,300 | 4,423,197 |
Health Net, Inc. * | 15,500 | 996,030 |
HealthEquity, Inc. * | 8,000 | 261,680 |
HealthSouth Corp. | 20,600 | 717,498 |
HealthStream, Inc. * | 6,800 | 161,908 |
Healthways, Inc. * | 8,100 | 95,337 |
HeartWare International, Inc. * | 4,100 | 177,079 |
Henry Schein, Inc. * | 16,100 | 2,442,531 |
Hill-Rom Holdings, Inc. | 10,200 | 537,438 |
HMS Holdings Corp. * | 12,200 | 128,466 |
Hologic, Inc. * | 49,612 | 1,927,922 |
Humana, Inc. | 28,600 | 5,108,818 |
ICU Medical, Inc. * | 3,350 | 368,399 |
IDEXX Laboratories, Inc. * | 17,200 | 1,180,264 |
IMS Health Holdings, Inc. * | 29,800 | 811,156 |
Insulet Corp. * | 9,800 | 293,020 |
Integra LifeSciences Holdings Corp. * | 5,300 | 315,721 |
Intuitive Surgical, Inc. * | 7,550 | 3,749,330 |
Invacare Corp. | 6,000 | 103,680 |
IPC Healthcare, Inc. * | 4,000 | 314,000 |
Kindred Healthcare, Inc. | 11,559 | 154,891 |
Laboratory Corp. of America Holdings * | 20,869 | 2,561,461 |
Landauer, Inc. | 2,100 | 82,929 |
LeMaitre Vascular, Inc. | 6,800 | 90,576 |
LifePoint Health, Inc. * | 9,607 | 661,730 |
LivaNova plc * | 10,400 | 689,312 |
Magellan Health, Inc. * | 3,907 | 208,634 |
Masimo Corp. * | 8,500 | 337,280 |
McKesson Corp. | 45,052 | 8,055,298 |
MedAssets, Inc. * | 10,200 | 241,536 |
Medidata Solutions, Inc. * | 9,100 | 391,300 |
MEDNAX, Inc. * | 19,600 | 1,381,212 |
Medtronic plc | 275,688 | 20,378,857 |
Meridian Bioscience, Inc. | 10,050 | 191,050 |
Merit Medical Systems, Inc. * | 10,277 | 190,536 |
Molina Healthcare, Inc. * | 6,550 | 406,100 |
National HealthCare Corp. | 4,100 | 267,648 |
Natus Medical, Inc. * | 7,600 | 346,028 |
Neogen Corp. * | 10,257 | 554,391 |
NuVasive, Inc. * | 10,000 | 471,600 |
NxStage Medical, Inc. * | 18,700 | 312,477 |
Omnicell, Inc. * | 7,400 | 201,280 |
OraSure Technologies, Inc. * | 12,200 | 63,440 |
Orthofix International N.V. * | 2,800 | 95,340 |
Owens & Minor, Inc. | 9,100 | 326,235 |
Patterson Cos., Inc. | 18,800 | 891,120 |
PDI, Inc. * | 2,900 | 4,727 |
PharMerica Corp. * | 4,813 | 137,507 |
Security | Number of Shares | Value ($) |
Premier, Inc., Class A * | 5,000 | 169,050 |
Quality Systems, Inc. | 10,500 | 147,525 |
Quest Diagnostics, Inc. | 28,720 | 1,951,524 |
Quidel Corp. * | 5,200 | 99,944 |
ResMed, Inc. | 28,000 | 1,613,080 |
RTI Surgical, Inc. * | 18,100 | 76,110 |
SeaSpine Holdings Corp. * | 1,766 | 26,631 |
Select Medical Holdings Corp. | 22,600 | 255,380 |
Sirona Dental Systems, Inc. * | 11,900 | 1,298,647 |
St. Jude Medical, Inc. | 54,300 | 3,464,883 |
STERIS Corp. (c) | 19,400 | 1,454,030 |
Stryker Corp. | 63,400 | 6,062,308 |
SurModics, Inc. * | 4,200 | 89,586 |
Symmetry Surgical, Inc. * | 2,050 | 17,425 |
Team Health Holdings, Inc. * | 14,000 | 835,380 |
Teleflex, Inc. | 9,600 | 1,276,800 |
Tenet Healthcare Corp. * | 18,812 | 590,132 |
The Cooper Cos., Inc. | 9,081 | 1,383,581 |
The Ensign Group, Inc. | 5,300 | 223,448 |
The Providence Service Corp. * | 4,800 | 247,920 |
The Spectranetics Corp. * | 6,700 | 81,874 |
Triple-S Management Corp., Class B * | 5,300 | 109,127 |
U.S. Physical Therapy, Inc. | 3,500 | 171,710 |
Unilife Corp. *(c) | 29,100 | 21,930 |
UnitedHealth Group, Inc. | 186,481 | 21,963,732 |
Universal American Corp. | 20,600 | 153,676 |
Universal Health Services, Inc., Class B | 18,100 | 2,209,829 |
Utah Medical Products, Inc. | 2,500 | 147,425 |
Varian Medical Systems, Inc. * | 21,100 | 1,656,983 |
VCA, Inc. * | 16,800 | 920,136 |
Veeva Systems, Inc., Class A * | 15,100 | 383,087 |
Vocera Communications, Inc. * | 3,700 | 43,549 |
WellCare Health Plans, Inc. * | 8,200 | 726,520 |
West Pharmaceutical Services, Inc. | 15,800 | 948,158 |
Wright Medical Group N.V. * | 14,965 | 289,273 |
Zeltiq Aesthetics, Inc. * | 9,601 | 323,938 |
Zimmer Biomet Holdings, Inc. | 33,300 | 3,482,181 |
220,343,133 | ||
Household & Personal Products 1.7% | ||
Avon Products, Inc. | 70,000 | 282,100 |
Central Garden & Pet Co., Class A * | 8,600 | 145,168 |
Church & Dwight Co., Inc. | 26,400 | 2,272,776 |
Colgate-Palmolive Co. | 177,509 | 11,777,722 |
Coty, Inc., Class A | 15,600 | 451,620 |
Edgewell Personal Care Co. | 10,933 | 926,135 |
Elizabeth Arden, Inc. *(c) | 3,500 | 43,890 |
Energizer Holdings, Inc. | 10,933 | 468,260 |
Herbalife Ltd. *(c) | 11,900 | 666,876 |
HRG Group, Inc. * | 19,100 | 256,895 |
Inter Parfums, Inc. | 5,613 | 155,031 |
Kimberly-Clark Corp. | 70,539 | 8,444,224 |
Medifast, Inc. * | 3,500 | 97,895 |
Nu Skin Enterprises, Inc., Class A | 9,600 | 366,816 |
Nutraceutical International Corp. * | 5,000 | 122,500 |
Oil-Dri Corp. of America | 1,600 | 50,208 |
Orchids Paper Products Co. | 2,500 | 73,275 |
Revlon, Inc., Class A * | 5,400 | 169,398 |
Spectrum Brands Holdings, Inc. | 6,500 | 623,025 |
Security | Number of Shares | Value ($) |
The Clorox Co. | 24,700 | 3,011,918 |
The Estee Lauder Cos., Inc., Class A | 43,100 | 3,467,826 |
The Female Health Co. *(c) | 7,500 | 12,825 |
The Procter & Gamble Co. | 533,724 | 40,765,839 |
USANA Health Sciences, Inc. * | 2,682 | 344,905 |
WD-40 Co. | 4,600 | 439,668 |
75,436,795 | ||
Insurance 3.1% | ||
ACE Ltd. | 63,428 | 7,201,615 |
Aflac, Inc. | 85,300 | 5,437,875 |
Alleghany Corp. * | 3,440 | 1,707,169 |
Allied World Assurance Co. Holdings AG | 14,700 | 534,492 |
Ambac Financial Group, Inc. * | 13,400 | 216,410 |
American Equity Investment Life Holding Co. | 12,600 | 323,568 |
American Financial Group, Inc. | 18,750 | 1,353,562 |
American International Group, Inc. | 257,115 | 16,213,672 |
American National Insurance Co. | 2,300 | 237,544 |
AMERISAFE, Inc. | 4,000 | 218,920 |
AmTrust Financial Services, Inc. | 7,314 | 498,961 |
Aon plc | 53,796 | 5,019,705 |
Arch Capital Group Ltd. * | 23,800 | 1,782,382 |
Argo Group International Holdings Ltd. | 5,512 | 344,610 |
Arthur J. Gallagher & Co. | 33,400 | 1,460,582 |
Aspen Insurance Holdings Ltd. | 10,400 | 505,544 |
Assurant, Inc. | 14,800 | 1,206,644 |
Assured Guaranty Ltd. | 31,900 | 875,336 |
Axis Capital Holdings Ltd. | 17,600 | 950,400 |
Baldwin & Lyons, Inc., Class B | 1,950 | 45,299 |
Brown & Brown, Inc. | 19,300 | 622,811 |
Cincinnati Financial Corp. | 35,450 | 2,135,153 |
Citizens, Inc. *(c) | 16,000 | 134,400 |
CNA Financial Corp. | 6,900 | 252,264 |
CNO Financial Group, Inc. | 39,000 | 749,190 |
Crawford & Co., Class B | 5,800 | 34,800 |
EMC Insurance Group, Inc. | 1,800 | 45,000 |
Employers Holdings, Inc. | 7,500 | 198,525 |
Endurance Specialty Holdings Ltd. | 10,023 | 632,752 |
Enstar Group Ltd. * | 3,300 | 520,740 |
Erie Indemnity Co., Class A | 6,300 | 550,998 |
Everest Re Group Ltd. | 8,700 | 1,548,339 |
FBL Financial Group, Inc., Class A | 5,190 | 326,451 |
Federated National Holding Co. | 1,500 | 46,178 |
First American Financial Corp. | 16,800 | 640,584 |
FNF Group | 55,539 | 1,959,416 |
Genworth Financial, Inc., Class A * | 86,800 | 406,224 |
Greenlight Capital Re Ltd., Class A * | 7,400 | 162,504 |
Horace Mann Educators Corp. | 8,300 | 284,192 |
Independence Holding Co. | 2,970 | 40,273 |
Infinity Property & Casualty Corp. | 2,500 | 201,300 |
Kemper Corp. | 7,700 | 275,044 |
Lincoln National Corp. | 51,626 | 2,762,507 |
Loews Corp. | 60,174 | 2,193,944 |
Maiden Holdings Ltd. | 18,900 | 293,895 |
Markel Corp. * | 2,503 | 2,172,604 |
Marsh & McLennan Cos., Inc. | 104,200 | 5,808,108 |
Security | Number of Shares | Value ($) |
MBIA, Inc. * | 25,250 | 189,628 |
Mercury General Corp. | 5,400 | 291,654 |
MetLife, Inc. | 219,603 | 11,063,599 |
National General Holdings Corp. | 10,400 | 204,984 |
National Western Life Group, Inc., Class A | 500 | 128,995 |
Old Republic International Corp. | 43,822 | 790,549 |
OneBeacon Insurance Group Ltd., Class A | 14,800 | 212,972 |
PartnerRe Ltd. | 8,900 | 1,237,100 |
Primerica, Inc. | 10,700 | 509,641 |
Principal Financial Group, Inc. | 55,641 | 2,790,953 |
ProAssurance Corp. | 8,540 | 452,278 |
Prudential Financial, Inc. | 88,472 | 7,298,940 |
Reinsurance Group of America, Inc. | 12,900 | 1,164,096 |
RenaissanceRe Holdings Ltd. | 8,532 | 935,363 |
RLI Corp. | 5,600 | 340,760 |
Safety Insurance Group, Inc. | 3,400 | 197,030 |
Selective Insurance Group, Inc. | 7,800 | 284,622 |
StanCorp Financial Group, Inc. | 9,300 | 1,066,896 |
State Auto Financial Corp. | 5,500 | 131,175 |
Stewart Information Services Corp. | 3,600 | 144,612 |
Symetra Financial Corp. | 19,000 | 602,870 |
The Allstate Corp. | 77,867 | 4,818,410 |
The Chubb Corp. | 42,394 | 5,483,664 |
The Hanover Insurance Group, Inc. | 6,900 | 581,325 |
The Hartford Financial Services Group, Inc. | 78,262 | 3,620,400 |
The Navigators Group, Inc. * | 4,200 | 358,470 |
The Phoenix Cos., Inc. * | 475 | 16,331 |
The Progressive Corp. | 107,064 | 3,547,030 |
The Travelers Cos., Inc. | 62,752 | 7,084,073 |
Torchmark Corp. | 22,200 | 1,287,822 |
United Fire Group, Inc. | 5,000 | 185,950 |
Universal Insurance Holdings, Inc. | 8,700 | 274,485 |
Unum Group | 52,114 | 1,805,750 |
Validus Holdings Ltd. | 16,857 | 746,765 |
W. R. Berkley Corp. | 18,050 | 1,007,732 |
White Mountains Insurance Group Ltd. | 1,300 | 1,027,000 |
Willis Group Holdings plc | 39,800 | 1,775,478 |
XL Group plc | 57,900 | 2,204,832 |
136,996,720 | ||
Materials 3.2% | ||
A. Schulman, Inc. | 5,300 | 190,217 |
A.M. Castle & Co. *(c) | 5,800 | 13,862 |
AEP Industries, Inc. * | 1,900 | 152,000 |
Air Products & Chemicals, Inc. | 38,000 | 5,281,240 |
Airgas, Inc. | 15,100 | 1,452,016 |
AK Steel Holding Corp. *(c) | 32,127 | 92,847 |
Albemarle Corp. | 23,603 | 1,263,233 |
Alcoa, Inc. | 254,198 | 2,269,988 |
Allegheny Technologies, Inc. | 20,092 | 295,352 |
American Vanguard Corp. | 3,000 | 40,230 |
Ampco-Pittsburgh Corp. | 4,500 | 52,155 |
AptarGroup, Inc. | 10,900 | 801,804 |
Ashland, Inc. | 11,923 | 1,308,192 |
Avery Dennison Corp. | 16,000 | 1,039,520 |
Axalta Coating Systems Ltd. * | 31,300 | 864,819 |
Axiall Corp. | 15,400 | 311,850 |
Security | Number of Shares | Value ($) |
Balchem Corp. | 9,800 | 669,340 |
Ball Corp. | 29,000 | 1,986,500 |
Bemis Co., Inc. | 16,700 | 764,526 |
Berry Plastics Group, Inc. * | 24,600 | 824,100 |
Boise Cascade Co. * | 5,500 | 164,615 |
Cabot Corp. | 10,900 | 391,746 |
Calgon Carbon Corp. | 12,500 | 215,000 |
Carpenter Technology Corp. | 8,300 | 276,473 |
Celanese Corp., Series A | 30,700 | 2,181,235 |
Century Aluminum Co. * | 11,600 | 41,992 |
CF Industries Holdings, Inc. | 47,500 | 2,411,575 |
Chase Corp. | 5,200 | 230,932 |
Chemtura Corp. * | 14,000 | 447,160 |
Clearwater Paper Corp. * | 5,472 | 275,953 |
Cliffs Natural Resources, Inc. (c) | 21,100 | 58,236 |
Codexis, Inc. * | 1,870 | 6,068 |
Coeur Mining, Inc. * | 22,400 | 60,480 |
Commercial Metals Co. | 22,800 | 327,636 |
Compass Minerals International, Inc. | 7,300 | 593,052 |
Crown Holdings, Inc. * | 28,000 | 1,485,120 |
Cytec Industries, Inc. | 13,200 | 982,344 |
Deltic Timber Corp. | 1,500 | 92,940 |
Domtar Corp. | 10,500 | 433,020 |
E.I. du Pont de Nemours & Co. | 178,907 | 11,342,704 |
Eagle Materials, Inc. | 11,543 | 762,184 |
Eastman Chemical Co. | 28,980 | 2,091,487 |
Ecolab, Inc. | 51,904 | 6,246,646 |
Ferro Corp. * | 21,000 | 262,290 |
Flotek Industries, Inc. * | 13,300 | 240,730 |
FMC Corp. | 28,000 | 1,139,880 |
Freeport-McMoRan, Inc. | 236,818 | 2,787,348 |
FutureFuel Corp. | 8,300 | 127,903 |
General Moly, Inc. * | 15,700 | 4,553 |
Globe Specialty Metals, Inc. | 15,900 | 200,658 |
Graphic Packaging Holding Co. | 52,900 | 749,064 |
Greif, Inc., Class A | 11,300 | 370,414 |
H.B. Fuller Co. | 9,000 | 341,910 |
Hawkins, Inc. | 2,700 | 111,888 |
Haynes International, Inc. | 2,500 | 98,625 |
Headwaters, Inc. * | 12,000 | 246,600 |
Hecla Mining Co. | 72,100 | 149,247 |
Horsehead Holding Corp. *(c) | 12,800 | 36,352 |
Huntsman Corp. | 38,600 | 508,362 |
Innophos Holdings, Inc. | 5,300 | 225,197 |
Innospec, Inc. | 4,200 | 232,008 |
International Flavors & Fragrances, Inc. | 18,100 | 2,100,686 |
International Paper Co. | 85,480 | 3,649,141 |
Intrepid Potash, Inc. * | 11,800 | 45,548 |
Kaiser Aluminum Corp. | 3,600 | 292,644 |
KapStone Paper & Packaging Corp. | 15,800 | 343,650 |
KMG Chemicals, Inc. | 1,600 | 33,664 |
Koppers Holdings, Inc. | 4,800 | 91,008 |
Kraton Performance Polymers, Inc. * | 3,500 | 71,365 |
Kronos Worldwide, Inc. | 11,720 | 92,588 |
Louisiana-Pacific Corp. * | 32,900 | 581,014 |
LSB Industries, Inc. * | 3,000 | 46,950 |
LyondellBasell Industries N.V., Class A | 73,032 | 6,785,403 |
Security | Number of Shares | Value ($) |
Martin Marietta Materials, Inc. | 12,700 | 1,970,405 |
Materion Corp. | 4,000 | 120,600 |
McEwen Mining, Inc. (c) | 31,130 | 28,023 |
Minerals Technologies, Inc. | 6,200 | 365,428 |
Monsanto Co. | 92,626 | 8,634,596 |
Myers Industries, Inc. | 8,080 | 126,129 |
Neenah Paper, Inc. | 4,231 | 285,212 |
NewMarket Corp. | 1,900 | 748,106 |
Newmont Mining Corp. | 111,174 | 2,163,446 |
Noranda Aluminum Holding Corp. | 2,357 | 4,054 |
Nucor Corp. | 62,400 | 2,639,520 |
Olin Corp. | 41,920 | 804,026 |
Olympic Steel, Inc. | 1,400 | 13,398 |
OMNOVA Solutions, Inc. * | 10,400 | 74,672 |
Owens-Illinois, Inc. * | 33,600 | 724,080 |
P.H. Glatfelter Co. | 7,000 | 135,800 |
Packaging Corp. of America | 20,100 | 1,375,845 |
Platform Specialty Products Corp. * | 24,500 | 255,780 |
PolyOne Corp. | 14,810 | 495,246 |
PPG Industries, Inc. | 52,800 | 5,504,928 |
Praxair, Inc. | 54,900 | 6,098,841 |
Quaker Chemical Corp. | 3,200 | 254,016 |
Rayonier Advanced Materials, Inc. | 6,960 | 64,171 |
Reliance Steel & Aluminum Co. | 13,300 | 797,468 |
Rentech, Inc. * | 3,740 | 21,879 |
Resolute Forest Products, Inc. * | 14,000 | 104,580 |
Royal Gold, Inc. | 11,400 | 545,376 |
RPM International, Inc. | 24,600 | 1,124,466 |
Schnitzer Steel Industries, Inc., Class A | 3,450 | 58,167 |
Schweitzer-Mauduit International, Inc. | 4,600 | 178,572 |
Sealed Air Corp. | 37,300 | 1,832,176 |
Sensient Technologies Corp. | 7,400 | 482,998 |
Sigma-Aldrich Corp. | 22,500 | 3,143,700 |
Silgan Holdings, Inc. | 6,900 | 351,003 |
Sonoco Products Co. | 16,800 | 717,192 |
Steel Dynamics, Inc. | 47,300 | 873,631 |
Stepan Co. | 4,300 | 227,599 |
Stillwater Mining Co. * | 24,633 | 230,072 |
SunCoke Energy, Inc. | 15,217 | 75,476 |
The Chemours Co. | 34,661 | 240,201 |
The Dow Chemical Co. | 224,451 | 11,597,383 |
The Mosaic Co. | 71,112 | 2,402,875 |
The Scotts Miracle-Gro Co., Class A | 12,500 | 827,000 |
The Sherwin-Williams Co. | 15,601 | 4,162,815 |
The Valspar Corp. | 13,300 | 1,076,635 |
TimkenSteel Corp. | 6,550 | 69,692 |
Tredegar Corp. | 5,100 | 72,726 |
Tronox Ltd., Class A | 9,800 | 60,858 |
United States Steel Corp. (c) | 26,300 | 307,184 |
Universal Stainless & Alloy Products, Inc. * | 1,800 | 15,660 |
Valhi, Inc. (c) | 13,600 | 33,592 |
Vulcan Materials Co. | 26,192 | 2,529,623 |
W.R. Grace & Co. * | 13,600 | 1,364,080 |
Wausau Paper Corp. | 8,700 | 88,827 |
Westlake Chemical Corp. | 7,500 | 452,025 |
WestRock Co. | 51,969 | 2,793,853 |
Worthington Industries, Inc. | 16,800 | 515,760 |
145,020,545 |
Security | Number of Shares | Value ($) |
Media 3.3% | ||
A. H. Belo Corp., Class A | 13,980 | 75,632 |
AMC Networks, Inc., Class A * | 10,400 | 768,456 |
Cable One, Inc. * | 900 | 390,096 |
Cablevision Systems Corp., Class A | 43,900 | 1,430,701 |
Carmike Cinemas, Inc. * | 6,300 | 161,343 |
CBS Corp., Class B - Non Voting Shares | 91,190 | 4,242,159 |
Central European Media Enterprises Ltd., Class A *(c) | 9,900 | 21,384 |
Charter Communications, Inc., Class A *(c) | 15,800 | 3,016,852 |
Cinemark Holdings, Inc. | 19,600 | 694,624 |
Clear Channel Outdoor Holdings, Inc., Class A * | 20,700 | 154,836 |
Comcast Corp., Class A | 481,860 | 30,174,073 |
Crown Media Holdings, Inc., Class A * | 6,000 | 34,740 |
Cumulus Media, Inc., Class A * | 25,351 | 11,639 |
Discovery Communications, Inc., Class A * | 26,061 | 767,236 |
Discovery Communications, Inc., Class C * | 57,261 | 1,575,823 |
DISH Network Corp., Class A * | 43,300 | 2,726,601 |
DreamWorks Animation SKG, Inc., Class A * | 19,500 | 394,680 |
Entercom Communications Corp., Class A * | 11,000 | 121,440 |
Gannett Co., Inc. | 19,500 | 308,490 |
Global Eagle Entertainment, Inc. * | 17,114 | 227,958 |
Harte-Hanks, Inc. | 17,200 | 73,100 |
John Wiley & Sons, Inc., Class A | 9,000 | 470,970 |
Journal Media Group, Inc. | 5,745 | 70,319 |
Liberty Broadband Corp., Class A * | 4,373 | 238,591 |
Liberty Broadband Corp., Class C * | 17,496 | 940,760 |
Liberty Global plc LiLAC., Class A * | 2,498 | 96,473 |
Liberty Global plc LiLAC., Class C * | 5,708 | 220,671 |
Liberty Global plc, Class A * | 49,975 | 2,224,887 |
Liberty Global plc, Series C * | 121,175 | 5,166,902 |
Liberty Media Corp., Class A * | 17,495 | 713,096 |
Liberty Media Corp., Class C * | 42,690 | 1,671,313 |
Lions Gate Entertainment Corp. | 20,600 | 802,782 |
Live Nation Entertainment, Inc. * | 26,457 | 721,747 |
Loral Space & Communications, Inc. * | 2,800 | 125,188 |
Martha Stewart Living Omnimedia, Inc., Class A * | 26,100 | 157,644 |
Media General, Inc. * | 18,400 | 273,424 |
Meredith Corp. | 5,100 | 239,802 |
MSG Networks, Inc., Class A * | 10,175 | 208,791 |
National CineMedia, Inc. | 13,200 | 187,440 |
New Media Investment Group, Inc. | 11,500 | 185,150 |
News Corp., Class A | 104,687 | 1,612,180 |
Nexstar Broadcasting Group, Inc., Class A | 4,500 | 239,535 |
Omnicom Group, Inc. | 45,800 | 3,431,336 |
Regal Entertainment Group, Class A | 12,100 | 234,498 |
Rentrak Corp. *(c) | 3,000 | 165,540 |
Salem Media Group, Inc. | 5,700 | 35,853 |
Scholastic Corp. | 7,300 | 298,351 |
Security | Number of Shares | Value ($) |
Scripps Networks Interactive, Inc., Class A | 19,200 | 1,153,536 |
Sinclair Broadcast Group, Inc., Class A | 11,000 | 330,110 |
Sirius XM Holdings, Inc. * | 485,300 | 1,980,024 |
Sizmek, Inc. * | 8,300 | 49,219 |
Starz, Class A * | 16,195 | 542,694 |
TEGNA, Inc. | 46,100 | 1,246,544 |
The E.W. Scripps Co., Class A | 18,547 | 409,147 |
The Interpublic Group of Cos., Inc. | 73,037 | 1,674,738 |
The Madison Square Garden Co., Class A * | 3,391 | 605,293 |
The New York Times Co., Class A | 40,200 | 533,856 |
The Walt Disney Co. | 302,439 | 34,399,412 |
Time Warner Cable, Inc. | 55,437 | 10,499,768 |
Time Warner, Inc. | 156,757 | 11,810,072 |
Time, Inc. | 19,122 | 355,287 |
Tribune Media Co., Class A | 18,500 | 746,105 |
Twenty-First Century Fox, Inc., Class A | 323,878 | 9,939,816 |
Viacom, Inc., Class B | 68,922 | 3,398,544 |
World Wrestling Entertainment, Inc., Class A (c) | 5,700 | 101,631 |
147,880,902 | ||
Pharmaceuticals, Biotechnology & Life Sciences 9.2% | ||
AbbVie, Inc. | 322,096 | 19,180,817 |
ACADIA Pharmaceuticals, Inc. * | 16,600 | 578,012 |
Accelerate Diagnostics, Inc. *(c) | 5,300 | 88,881 |
Achillion Pharmaceuticals, Inc. * | 19,800 | 154,836 |
Acorda Therapeutics, Inc. * | 8,400 | 302,736 |
Acura Pharmaceuticals, Inc. * | 4,180 | 10,283 |
Aegerion Pharmaceuticals, Inc. *(c) | 3,800 | 55,784 |
Affymetrix, Inc. * | 25,500 | 234,600 |
Agilent Technologies, Inc. | 62,917 | 2,375,746 |
Agios Pharmaceuticals, Inc. * | 6,000 | 437,160 |
Akorn, Inc. * | 15,400 | 411,796 |
Albany Molecular Research, Inc. * | 8,800 | 158,752 |
Alder Biopharmaceuticals, Inc. * | 6,300 | 201,474 |
Alexion Pharmaceuticals, Inc. * | 43,500 | 7,656,000 |
Alkermes plc * | 28,600 | 2,056,912 |
Allergan plc * | 77,087 | 23,779,027 |
Alnylam Pharmaceuticals, Inc. * | 15,500 | 1,332,225 |
AMAG Pharmaceuticals, Inc. * | 6,600 | 264,000 |
Amgen, Inc. | 150,989 | 23,883,440 |
Amicus Therapeutics, Inc. * | 27,200 | 204,000 |
Anacor Pharmaceuticals, Inc. * | 9,800 | 1,101,618 |
Aratana Therapeutics, Inc. * | 10,100 | 70,599 |
Arena Pharmaceuticals, Inc. * | 32,100 | 60,669 |
ARIAD Pharmaceuticals, Inc. * | 57,200 | 391,248 |
ArQule, Inc. * | 21,000 | 47,460 |
Array BioPharma, Inc. * | 62,184 | 318,382 |
Arrowhead Research Corp. *(c) | 10,700 | 55,105 |
AVEO Pharmaceuticals, Inc. *(c) | 15,100 | 17,516 |
Baxalta, Inc. | 105,806 | 3,646,075 |
Bio-Rad Laboratories, Inc., Class A * | 4,900 | 683,452 |
Bio-Techne Corp. | 7,800 | 687,960 |
BioCryst Pharmaceuticals, Inc. * | 23,900 | 214,861 |
BioDelivery Sciences International, Inc. *(c) | 14,119 | 75,960 |
Security | Number of Shares | Value ($) |
Biogen, Inc. * | 46,312 | 13,454,099 |
BioMarin Pharmaceutical, Inc. * | 31,000 | 3,628,240 |
Biota Pharmaceuticals, Inc. * | 26,016 | 50,211 |
Bluebird Bio, Inc. * | 8,000 | 617,040 |
Bristol-Myers Squibb Co. | 326,953 | 21,562,550 |
Bruker Corp. * | 18,000 | 330,660 |
Cambrex Corp. * | 7,200 | 330,984 |
Catalent, Inc. * | 18,000 | 478,440 |
Celgene Corp. * | 155,562 | 19,089,013 |
Celldex Therapeutics, Inc. * | 25,800 | 311,148 |
Cempra, Inc. *(c) | 7,500 | 166,500 |
Cepheid * | 16,200 | 541,080 |
Charles River Laboratories International, Inc. * | 10,416 | 679,540 |
Chimerix, Inc. * | 7,200 | 282,096 |
Clovis Oncology, Inc. * | 6,400 | 639,424 |
Depomed, Inc. * | 14,500 | 253,750 |
Durect Corp. * | 14,500 | 29,580 |
Dyax Corp. * | 31,000 | 853,430 |
Dynavax Technologies Corp. * | 10,950 | 248,674 |
Eli Lilly & Co. | 192,289 | 15,685,014 |
Emergent Biosolutions, Inc. * | 10,400 | 334,360 |
Endo International plc * | 39,350 | 2,360,606 |
Endocyte, Inc. * | 11,300 | 58,082 |
Enzo Biochem, Inc. * | 43,981 | 163,609 |
Enzon Pharmaceuticals, Inc. | 21,300 | 14,058 |
EPIRUS Biopharmaceuticals, Inc. *(c) | 843 | 4,510 |
Esperion Therapeutics, Inc. *(c) | 3,500 | 84,000 |
Exact Sciences Corp. *(c) | 16,300 | 135,779 |
Exelixis, Inc. *(c) | 44,700 | 269,094 |
FibroGen, Inc. * | 12,700 | 296,037 |
Fluidigm Corp. * | 6,000 | 64,860 |
Foundation Medicine, Inc. *(c) | 6,500 | 145,730 |
Genomic Health, Inc. * | 8,400 | 175,728 |
Geron Corp. * | 46,200 | 160,314 |
Gilead Sciences, Inc. | 289,192 | 31,270,331 |
GTx, Inc. *(c) | 15,900 | 16,854 |
Halozyme Therapeutics, Inc. * | 28,000 | 438,200 |
Harvard Apparatus Regenerative Technology, Inc. * | 4,825 | 2,905 |
Harvard Bioscience, Inc. * | 19,300 | 56,742 |
Heron Therapeutics, Inc. *(c) | 8,200 | 224,844 |
Horizon Pharma plc * | 30,500 | 479,460 |
Illumina, Inc. * | 28,000 | 4,011,840 |
ImmunoGen, Inc. * | 16,900 | 197,730 |
Immunomedics, Inc. *(c) | 64,448 | 192,699 |
Impax Laboratories, Inc. * | 13,800 | 477,894 |
Incyte Corp. * | 32,200 | 3,784,466 |
Infinity Pharmaceuticals, Inc. * | 19,600 | 202,860 |
Inovio Pharmaceuticals, Inc. *(c) | 20,194 | 127,828 |
Insmed, Inc. * | 15,000 | 297,600 |
Intercept Pharmaceuticals, Inc. * | 3,900 | 613,080 |
Intra-Cellular Therapies, Inc. * | 8,000 | 382,800 |
Intrexon Corp. *(c) | 8,700 | 292,320 |
Ironwood Pharmaceuticals, Inc. * | 19,800 | 224,928 |
Isis Pharmaceuticals, Inc. * | 22,900 | 1,102,635 |
Jazz Pharmaceuticals plc * | 11,400 | 1,564,992 |
Johnson & Johnson | 544,109 | 54,971,332 |
Juno Therapeutics, Inc. *(c) | 13,900 | 719,464 |
Keryx Biopharmaceuticals, Inc. *(c) | 24,800 | 111,104 |
Kite Pharma, Inc. *(c) | 8,300 | 564,815 |
Security | Number of Shares | Value ($) |
Lannett Co., Inc. *(c) | 8,800 | 393,976 |
Lexicon Pharmaceuticals, Inc. *(c) | 18,214 | 173,215 |
Ligand Pharmaceuticals, Inc. * | 4,948 | 447,052 |
Luminex Corp. * | 12,900 | 234,780 |
MacroGenics, Inc. * | 7,500 | 233,025 |
Mallinckrodt plc * | 21,702 | 1,425,170 |
MannKind Corp. *(c) | 40,800 | 135,048 |
Medivation, Inc. * | 30,400 | 1,278,624 |
Merck & Co., Inc. | 556,516 | 30,419,165 |
Merrimack Pharmaceuticals, Inc. * | 38,590 | 360,431 |
Mettler-Toledo International, Inc. * | 5,900 | 1,834,841 |
MiMedx Group, Inc. * | 26,820 | 195,250 |
Momenta Pharmaceuticals, Inc. * | 13,500 | 221,535 |
Mylan N.V. * | 80,100 | 3,531,609 |
Myriad Genetics, Inc. *(c) | 16,600 | 670,142 |
Nektar Therapeutics * | 43,600 | 517,532 |
Neurocrine Biosciences, Inc. * | 17,200 | 844,348 |
NewLink Genetics Corp. * | 4,700 | 179,869 |
Novavax, Inc. * | 52,500 | 354,375 |
Omeros Corp. *(c) | 8,800 | 110,264 |
Oncothyreon, Inc. * | 25,700 | 76,072 |
Ophthotech Corp. * | 8,000 | 399,440 |
OPKO Health, Inc. *(c) | 77,300 | 730,485 |
Orexigen Therapeutics, Inc. *(c) | 32,750 | 99,560 |
OvaScience, Inc. *(c) | 4,900 | 63,553 |
Pacira Pharmaceuticals, Inc. * | 6,500 | 324,675 |
Pain Therapeutics, Inc. * | 18,600 | 34,410 |
PAREXEL International Corp. * | 13,800 | 871,056 |
PDL BioPharma, Inc. | 28,700 | 131,446 |
PerkinElmer, Inc. | 23,577 | 1,217,516 |
Perrigo Co., plc | 29,700 | 4,684,878 |
Pfizer, Inc. | 1,213,725 | 41,048,179 |
Portola Pharmaceuticals, Inc. * | 13,300 | 633,213 |
POZEN, Inc. *(c) | 16,100 | 94,185 |
Prestige Brands Holdings, Inc. * | 8,500 | 416,585 |
Prothena Corp. plc * | 8,919 | 459,418 |
PTC Therapeutics, Inc. * | 5,885 | 146,360 |
Puma Biotechnology, Inc. * | 4,800 | 395,616 |
Quintiles Transnational Holdings, Inc. * | 18,800 | 1,196,620 |
Radius Health, Inc. * | 8,000 | 513,840 |
Raptor Pharmaceutical Corp. * | 29,942 | 163,184 |
Regeneron Pharmaceuticals, Inc. * | 15,400 | 8,583,806 |
Relypsa, Inc. * | 7,400 | 118,326 |
Repligen Corp. * | 9,886 | 328,611 |
Retrophin, Inc. * | 9,400 | 179,822 |
Rigel Pharmaceuticals, Inc. * | 48,200 | 122,428 |
Sagent Pharmaceuticals, Inc. * | 9,800 | 164,738 |
Sangamo BioSciences, Inc. * | 14,600 | 102,930 |
Sarepta Therapeutics, Inc. * | 9,800 | 235,788 |
Seattle Genetics, Inc. * | 23,400 | 970,866 |
Sequenom, Inc. *(c) | 87,600 | 153,300 |
Spectrum Pharmaceuticals, Inc. * | 24,200 | 126,082 |
Sucampo Pharmaceuticals, Inc., Class A * | 4,300 | 83,248 |
Synta Pharmaceuticals Corp. *(c) | 43,900 | 29,413 |
TESARO, Inc. * | 6,195 | 281,687 |
Tetraphase Pharmaceuticals, Inc. * | 5,600 | 50,568 |
The Medicines Co. * | 15,600 | 534,144 |
TherapeuticsMD, Inc. * | 35,777 | 210,011 |
Theravance Biopharma, Inc. * | 3,914 | 58,514 |
Theravance, Inc. (c) | 13,700 | 120,286 |
Security | Number of Shares | Value ($) |
Thermo Fisher Scientific, Inc. | 77,302 | 10,109,556 |
Ultragenyx Pharmaceutical, Inc. * | 7,700 | 764,995 |
United Therapeutics Corp. * | 9,100 | 1,334,333 |
Vanda Pharmaceuticals, Inc. *(c) | 13,953 | 149,855 |
Vertex Pharmaceuticals, Inc. * | 48,244 | 6,017,957 |
Vical, Inc. * | 34,400 | 14,448 |
VIVUS, Inc. *(c) | 23,400 | 29,484 |
VWR Corp. * | 9,000 | 247,590 |
Waters Corp. * | 16,100 | 2,057,580 |
XenoPort, Inc. * | 37,200 | 227,292 |
ZIOPHARM Oncology, Inc. *(c) | 33,811 | 385,107 |
Zoetis, Inc. | 92,879 | 3,994,726 |
411,613,382 | ||
Real Estate 4.2% | ||
Acadia Realty Trust | 23,300 | 766,337 |
AG Mortgage Investment Trust, Inc. | 12,000 | 182,520 |
Agree Realty Corp. | 5,000 | 161,900 |
Alexander & Baldwin, Inc. | 6,400 | 241,536 |
Alexander's, Inc. | 800 | 315,912 |
Alexandria Real Estate Equities, Inc. | 15,800 | 1,417,892 |
Altisource Portfolio Solutions S.A. * | 2,800 | 75,068 |
Altisource Residential Corp. | 10,789 | 155,254 |
American Assets Trust, Inc. | 8,000 | 337,280 |
American Campus Communities, Inc. | 29,900 | 1,213,043 |
American Capital Agency Corp. | 72,900 | 1,299,807 |
American Capital Mortgage Investment Corp. | 14,600 | 211,846 |
American Homes 4 Rent, Class A | 24,300 | 400,950 |
American Realty Investors, Inc. * | 1,537 | 7,992 |
American Tower Corp. | 82,944 | 8,479,365 |
Annaly Capital Management, Inc. | 180,600 | 1,796,970 |
Anworth Mortgage Asset Corp. | 24,200 | 115,434 |
Apartment Investment & Management Co., Class A | 39,211 | 1,536,679 |
Apollo Commercial Real Estate Finance, Inc. | 11,400 | 189,354 |
Apollo Residential Mortgage, Inc. | 12,900 | 166,023 |
Apple Hospitality REIT, Inc. (c) | 35,000 | 690,200 |
ARMOUR Residential REIT, Inc. | 7,625 | 156,465 |
Ashford Hospitality Prime, Inc. | 2,168 | 31,870 |
Ashford Hospitality Trust, Inc. | 9,000 | 61,920 |
AV Homes, Inc. * | 6,500 | 86,060 |
AvalonBay Communities, Inc. | 26,919 | 4,706,249 |
BioMed Realty Trust, Inc. | 46,700 | 1,093,247 |
Blackstone Mortgage Trust, Inc., Class A | 18,102 | 498,167 |
Boston Properties, Inc. | 31,100 | 3,913,935 |
Brandywine Realty Trust | 62,663 | 845,950 |
Brixmor Property Group, Inc. | 31,600 | 809,592 |
Camden Property Trust | 17,500 | 1,291,325 |
Campus Crest Communities, Inc. | 17,900 | 118,677 |
Capstead Mortgage Corp. | 21,740 | 209,791 |
Care Capital Properties, Inc. | 16,741 | 551,616 |
CareTrust REIT, Inc. | 7,131 | 80,723 |
CBL & Associates Properties, Inc. | 26,785 | 390,525 |
CBRE Group, Inc., Class A * | 57,000 | 2,124,960 |
Cedar Realty Trust, Inc. | 33,200 | 232,068 |
Chambers Street Properties | 37,300 | 264,084 |
Security | Number of Shares | Value ($) |
Chatham Lodging Trust | 8,234 | 188,476 |
Chesapeake Lodging Trust | 8,500 | 234,090 |
Chimera Investment Corp. | 33,940 | 477,875 |
CIM Commercial Trust Corp. | 9,700 | 188,762 |
Colony Capital, Inc., Class A | 19,300 | 392,562 |
Columbia Property Trust, Inc. | 20,200 | 501,768 |
Communications Sales & Leasing, Inc. | 21,853 | 439,027 |
Consolidated-Tomoka Land Co. | 2,000 | 102,500 |
CoreSite Realty Corp. | 3,400 | 186,830 |
Corporate Office Properties Trust | 14,400 | 331,200 |
Corrections Corp. of America | 20,285 | 578,122 |
Cousins Properties, Inc. | 53,345 | 535,584 |
Crown Castle International Corp. | 65,323 | 5,582,504 |
CubeSmart | 41,400 | 1,151,748 |
CyrusOne, Inc. | 10,000 | 352,800 |
CYS Investments, Inc. | 25,500 | 196,860 |
DCT Industrial Trust, Inc. | 15,900 | 590,208 |
DDR Corp. | 54,584 | 917,011 |
DiamondRock Hospitality Co. | 59,386 | 693,628 |
Digital Realty Trust, Inc. | 27,300 | 2,019,108 |
Douglas Emmett, Inc. | 24,948 | 762,161 |
Duke Realty Corp. | 69,590 | 1,440,513 |
DuPont Fabros Technology, Inc. | 9,200 | 295,228 |
Dynex Capital, Inc. | 21,998 | 145,847 |
EastGroup Properties, Inc. | 6,300 | 353,808 |
Education Realty Trust, Inc. | 9,166 | 329,151 |
Empire State Realty Trust, Inc., Class A | 22,502 | 400,986 |
EPR Properties | 9,600 | 545,376 |
Equinix, Inc. | 10,586 | 3,140,654 |
Equity Commonwealth * | 23,450 | 673,249 |
Equity LifeStyle Properties, Inc. | 20,700 | 1,251,936 |
Equity One, Inc. | 12,100 | 321,618 |
Equity Residential | 73,500 | 5,683,020 |
Essex Property Trust, Inc. | 12,989 | 2,863,295 |
Extra Space Storage, Inc. | 23,200 | 1,838,368 |
Federal Realty Investment Trust | 15,200 | 2,181,048 |
FelCor Lodging Trust, Inc. | 28,000 | 225,400 |
First Industrial Realty Trust, Inc. | 15,900 | 344,712 |
First Potomac Realty Trust | 14,800 | 174,492 |
Forest City Enterprises, Inc., Class A * | 33,700 | 744,770 |
Forestar Group, Inc. * | 4,933 | 69,802 |
Franklin Street Properties Corp. | 22,500 | 234,450 |
Gaming & Leisure Properties, Inc. | 21,618 | 630,597 |
General Growth Properties, Inc. | 125,309 | 3,627,696 |
Getty Realty Corp. | 9,500 | 160,360 |
Global Net Lease, Inc. (c) | 40,000 | 367,200 |
Government Properties Income Trust | 9,900 | 161,172 |
Gramercy Property Trust, Inc. | 6,807 | 154,383 |
Griffin Industrial Realty, Inc. | 300 | 7,674 |
Hatteras Financial Corp. | 13,800 | 197,478 |
HCP, Inc. | 89,348 | 3,323,746 |
Healthcare Realty Trust, Inc. | 15,800 | 416,488 |
Healthcare Trust of America, Inc., Class A | 21,000 | 552,510 |
Hersha Hospitality Trust | 10,000 | 240,100 |
Highwoods Properties, Inc. | 17,261 | 749,990 |
Hospitality Properties Trust | 24,500 | 657,580 |
Host Hotels & Resorts, Inc. | 146,663 | 2,541,670 |
Security | Number of Shares | Value ($) |
Hudson Pacific Properties, Inc. | 9,100 | 259,987 |
Inland Real Estate Corp. | 20,300 | 179,655 |
Invesco Mortgage Capital, Inc. | 22,300 | 268,715 |
Investors Real Estate Trust | 28,600 | 232,232 |
Iron Mountain, Inc. | 36,173 | 1,108,341 |
iStar, Inc. * | 13,390 | 173,267 |
Jones Lang LaSalle, Inc. | 9,300 | 1,550,403 |
Kennedy-Wilson Holdings, Inc. | 12,200 | 299,144 |
Kilroy Realty Corp. | 15,400 | 1,013,936 |
Kimco Realty Corp. | 82,295 | 2,203,037 |
Kite Realty Group Trust | 15,825 | 417,938 |
Lamar Advertising Co., Class A | 16,100 | 908,523 |
LaSalle Hotel Properties | 19,700 | 579,377 |
Lexington Realty Trust | 33,567 | 296,732 |
Liberty Property Trust | 33,100 | 1,126,062 |
LTC Properties, Inc. | 8,700 | 372,795 |
Mack-Cali Realty Corp. | 18,500 | 402,560 |
Maui Land & Pineapple Co., Inc. * | 800 | 4,160 |
Medical Properties Trust, Inc. | 65,300 | 737,890 |
MFA Financial, Inc. | 60,500 | 418,660 |
Mid-America Apartment Communities, Inc. | 12,844 | 1,094,180 |
Monmouth Real Estate Investment Corp. | 18,100 | 188,421 |
Monogram Residential Trust, Inc. | 55,400 | 546,244 |
National Health Investors, Inc. | 5,900 | 346,566 |
National Retail Properties, Inc. | 29,220 | 1,110,360 |
New Century Financial Corp. *(b)(e) | 3,600 | — |
New Residential Investment Corp. | 45,250 | 548,882 |
New Senior Investment Group, Inc. | 20,583 | 206,242 |
New York Mortgage Trust, Inc. (c) | 18,600 | 105,648 |
New York REIT, Inc. | 28,100 | 320,340 |
Newcastle Investment Corp. | 20,583 | 101,268 |
NorthStar Realty Finance Corp. | 63,075 | 757,531 |
Omega Healthcare Investors, Inc. | 32,494 | 1,121,693 |
One Liberty Properties, Inc. | 1,400 | 32,984 |
Outfront Media, Inc. | 24,003 | 566,711 |
Paramount Group, Inc. | 45,900 | 815,643 |
Parkway Properties, Inc. | 14,940 | 249,946 |
Pebblebrook Hotel Trust | 12,300 | 420,414 |
Pennsylvania Real Estate Investment Trust | 13,900 | 312,472 |
PennyMac Mortgage Investment Trust | 14,400 | 210,528 |
Physicians Realty Trust | 10,600 | 169,388 |
Piedmont Office Realty Trust, Inc., Class A | 27,500 | 532,950 |
Plum Creek Timber Co., Inc. | 37,947 | 1,545,961 |
Post Properties, Inc. | 8,200 | 489,868 |
Potlatch Corp. | 5,753 | 179,724 |
Preferred Apartment Communities, Inc., Class A | 3,700 | 40,515 |
Prologis, Inc. | 106,534 | 4,552,198 |
PS Business Parks, Inc. | 3,000 | 257,370 |
Public Storage | 28,097 | 6,447,138 |
QTS Realty Trust, Inc., Class A | 9,100 | 391,391 |
RAIT Financial Trust | 16,199 | 78,565 |
Ramco-Gershenson Properties Trust | 22,500 | 378,000 |
Rayonier, Inc. | 32,182 | 728,922 |
Realogy Holdings Corp. * | 29,400 | 1,149,540 |
Realty Income Corp. | 48,035 | 2,375,811 |
Security | Number of Shares | Value ($) |
Redwood Trust, Inc. | 19,700 | 261,616 |
Regency Centers Corp. | 20,233 | 1,375,035 |
Resource Capital Corp. | 7,150 | 91,806 |
Retail Opportunity Investments Corp. | 14,400 | 261,072 |
Retail Properties of America, Inc., Class A | 41,600 | 622,752 |
RLJ Lodging Trust | 30,400 | 762,736 |
Rouse Properties, Inc. | 10,715 | 188,477 |
Ryman Hospitality Properties, Inc. | 7,837 | 412,226 |
Sabra Health Care REIT, Inc. | 13,700 | 310,716 |
Saul Centers, Inc. | 4,700 | 263,529 |
Select Income REIT | 14,600 | 294,920 |
Senior Housing Properties Trust | 37,819 | 574,471 |
Seritage Growth Properties *(c) | 13,000 | 547,690 |
Silver Bay Realty Trust Corp. | 13,033 | 211,135 |
Simon Property Group, Inc. | 60,105 | 12,108,753 |
SL Green Realty Corp. | 19,566 | 2,320,919 |
Sovran Self Storage, Inc. | 6,626 | 661,739 |
Spirit Realty Capital, Inc. | 89,048 | 906,509 |
STAG Industrial, Inc. | 11,900 | 244,188 |
Starwood Property Trust, Inc. | 50,873 | 1,022,039 |
Starwood Waypoint Residential Trust | 6,440 | 158,424 |
Strategic Hotels & Resorts, Inc. * | 42,000 | 592,200 |
Summit Hotel Properties, Inc. | 9,600 | 125,568 |
Sun Communities, Inc. | 11,300 | 757,326 |
Sunstone Hotel Investors, Inc. | 60,145 | 869,697 |
Tanger Factory Outlet Centers, Inc. | 15,600 | 545,220 |
Taubman Centers, Inc. | 11,600 | 892,968 |
Tejon Ranch Co. * | 3,674 | 82,775 |
The Geo Group, Inc. | 11,899 | 383,981 |
The Howard Hughes Corp. * | 6,300 | 778,554 |
The Macerich Co. | 27,405 | 2,322,300 |
The St. Joe Co. *(c) | 18,800 | 372,616 |
Two Harbors Investment Corp. | 60,300 | 510,138 |
UDR, Inc. | 50,961 | 1,756,116 |
UMH Properties, Inc. | 7,900 | 78,131 |
Universal Health Realty Income Trust | 4,700 | 233,543 |
Urban Edge Properties | 16,046 | 380,932 |
Urstadt Biddle Properties, Inc., Class A | 4,500 | 90,450 |
Ventas, Inc. | 66,966 | 3,597,413 |
VEREIT, Inc. | 178,200 | 1,471,932 |
Vornado Realty Trust | 34,092 | 3,427,951 |
Washington Real Estate Investment Trust | 9,700 | 261,997 |
Weingarten Realty Investors | 23,175 | 828,738 |
Welltower, Inc. | 71,958 | 4,667,915 |
Western Asset Mortgage Capital Corp. (c) | 4,607 | 52,612 |
Weyerhaeuser Co. | 99,992 | 2,932,765 |
Whitestone REIT | 2,100 | 25,956 |
WP Carey, Inc. | 22,700 | 1,438,499 |
WP GLIMCHER, Inc. | 33,804 | 392,802 |
Xenia Hotels & Resorts, Inc. | 35,200 | 610,368 |
185,706,820 |
Security | Number of Shares | Value ($) |
Retailing 5.1% | ||
Aaron's, Inc. | 14,675 | 362,032 |
Abercrombie & Fitch Co., Class A | 11,800 | 250,042 |
Advance Auto Parts, Inc. | 15,340 | 3,043,916 |
Aeropostale, Inc. *(c) | 25,600 | 15,872 |
Amazon.com, Inc. * | 75,225 | 47,083,327 |
America's Car-Mart, Inc. * | 6,850 | 234,544 |
American Eagle Outfitters, Inc. | 40,750 | 622,660 |
Asbury Automotive Group, Inc. * | 6,500 | 514,800 |
Ascena Retail Group, Inc. * | 34,141 | 454,758 |
AutoNation, Inc. * | 13,800 | 872,022 |
AutoZone, Inc. * | 5,900 | 4,628,019 |
Barnes & Noble Education, Inc. * | 4,676 | 68,971 |
Barnes & Noble, Inc. | 7,400 | 96,126 |
Bed Bath & Beyond, Inc. * | 35,500 | 2,116,865 |
Best Buy Co., Inc. | 63,425 | 2,221,778 |
Big Lots, Inc. | 14,700 | 677,670 |
Burlington Stores, Inc. * | 17,000 | 817,360 |
Cabela's, Inc. * | 7,700 | 301,609 |
Caleres, Inc. | 6,675 | 203,988 |
CarMax, Inc. * | 40,246 | 2,374,916 |
Chico's FAS, Inc. | 26,200 | 362,084 |
Christopher & Banks Corp. * | 13,400 | 19,564 |
Conn's, Inc. * | 7,900 | 149,863 |
Core-Mark Holding Co., Inc. | 4,000 | 325,160 |
CST Brands, Inc. | 12,286 | 441,436 |
Destination Maternity Corp. | 5,000 | 34,650 |
Dick's Sporting Goods, Inc. | 17,500 | 779,625 |
Dillard's, Inc., Class A | 4,300 | 384,764 |
Dollar General Corp. | 59,625 | 4,040,786 |
Dollar Tree, Inc. * | 43,344 | 2,838,599 |
DSW, Inc., Class A | 11,560 | 288,306 |
Expedia, Inc. | 19,472 | 2,654,034 |
Express, Inc. * | 12,600 | 243,180 |
Five Below, Inc. * | 15,800 | 542,572 |
Foot Locker, Inc. | 29,900 | 2,025,725 |
Francesca's Holdings Corp. * | 13,300 | 188,993 |
Fred's, Inc., Class A | 6,700 | 92,661 |
FTD Cos., Inc. * | 8,070 | 228,542 |
GameStop Corp., Class A (c) | 19,348 | 891,362 |
Genesco, Inc. * | 4,300 | 269,395 |
Genuine Parts Co. | 30,300 | 2,750,028 |
GNC Holdings, Inc., Class A | 15,500 | 461,125 |
Group 1 Automotive, Inc. | 4,400 | 382,580 |
Groupon, Inc. * | 88,400 | 327,964 |
Guess?, Inc. | 16,800 | 353,640 |
Hibbett Sports, Inc. * | 3,543 | 121,029 |
HSN, Inc. | 6,269 | 387,738 |
J.C. Penney Co., Inc. * | 72,200 | 662,074 |
Kirkland's, Inc. | 8,700 | 200,013 |
Kohl's Corp. | 39,600 | 1,826,352 |
L Brands, Inc. | 51,320 | 4,925,694 |
Lands' End, Inc. *(c) | 7,747 | 191,196 |
Liberty Interactive Corp., QVC Group, Class A * | 89,109 | 2,438,913 |
Liberty TripAdvisor Holdings, Inc., Class A * | 13,830 | 431,358 |
Liberty Ventures, Series A * | 25,347 | 1,104,369 |
Lithia Motors, Inc., Class A | 3,300 | 387,387 |
LKQ Corp. * | 58,900 | 1,744,029 |
Lowe's Cos., Inc. | 181,451 | 13,396,527 |
Security | Number of Shares | Value ($) |
Lumber Liquidators Holdings, Inc. *(c) | 4,600 | 63,572 |
Macy's, Inc. | 63,863 | 3,255,736 |
MarineMax, Inc. * | 16,300 | 257,540 |
Mattress Firm Holding Corp. * | 3,200 | 136,224 |
Monro Muffler Brake, Inc. | 4,462 | 330,947 |
Murphy USA, Inc. * | 6,875 | 421,919 |
Netflix, Inc. * | 84,347 | 9,141,528 |
Nordstrom, Inc. | 26,300 | 1,715,023 |
O'Reilly Automotive, Inc. * | 19,799 | 5,469,672 |
Office Depot, Inc. * | 99,656 | 759,379 |
Outerwall, Inc. (c) | 5,000 | 300,000 |
Pacific Sunwear of California, Inc. * | 41,175 | 11,027 |
Penske Automotive Group, Inc. | 9,100 | 444,444 |
Pier 1 Imports, Inc. (c) | 15,800 | 117,236 |
Pool Corp. | 6,662 | 543,219 |
Rent-A-Center, Inc. | 7,750 | 142,523 |
Restoration Hardware Holdings, Inc. * | 6,300 | 649,467 |
Ross Stores, Inc. | 80,400 | 4,066,632 |
Sally Beauty Holdings, Inc. * | 39,950 | 939,225 |
Sears Holdings Corp. *(c) | 11,385 | 266,067 |
Select Comfort Corp. * | 12,200 | 258,640 |
Shoe Carnival, Inc. | 6,300 | 141,561 |
Shutterfly, Inc. * | 6,300 | 262,773 |
Signet Jewelers Ltd. | 16,800 | 2,535,792 |
Sonic Automotive, Inc., Class A | 11,200 | 279,328 |
Stage Stores, Inc. | 14,275 | 138,896 |
Staples, Inc. | 118,900 | 1,544,511 |
Stein Mart, Inc. | 10,300 | 91,258 |
Systemax, Inc. * | 8,000 | 74,160 |
Target Corp. | 120,378 | 9,290,774 |
The Buckle, Inc. (c) | 3,875 | 137,330 |
The Cato Corp., Class A | 7,100 | 268,096 |
The Children's Place, Inc. | 3,600 | 193,212 |
The Finish Line, Inc., Class A | 7,161 | 133,409 |
The Gap, Inc. | 51,800 | 1,409,996 |
The Home Depot, Inc. | 251,963 | 31,152,705 |
The Men's Wearhouse, Inc. | 6,600 | 263,868 |
The Michaels Cos., Inc. * | 16,000 | 374,080 |
The Pep Boys - Manny, Moe & Jack * | 19,400 | 291,776 |
The Priceline Group, Inc. * | 9,976 | 14,507,498 |
The TJX Cos., Inc. | 133,447 | 9,766,986 |
Tiffany & Co. | 22,200 | 1,830,168 |
Tractor Supply Co. | 25,700 | 2,374,423 |
Trans World Entertainment Corp. * | 9,700 | 36,860 |
Travelport Worldwide Ltd. | 20,000 | 271,000 |
TripAdvisor, Inc. * | 22,272 | 1,865,948 |
Tuesday Morning Corp. * | 10,800 | 58,428 |
Ulta Salon, Cosmetics & Fragrance, Inc. * | 12,100 | 2,104,916 |
Urban Outfitters, Inc. * | 18,000 | 514,800 |
Vitamin Shoppe, Inc. * | 4,200 | 120,498 |
VOXX International Corp. * | 9,100 | 46,956 |
West Marine, Inc. * | 8,200 | 83,476 |
Williams-Sonoma, Inc. | 16,200 | 1,194,750 |
Winmark Corp. | 1,700 | 171,275 |
Zumiez, Inc. * | 10,500 | 183,540 |
228,859,659 |
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 2.4% | ||
Advanced Energy Industries, Inc. * | 4,500 | 127,260 |
Advanced Micro Devices, Inc. * | 123,300 | 261,396 |
Altera Corp. | 59,500 | 3,126,725 |
Amkor Technology, Inc. * | 35,700 | 222,054 |
Amtech Systems, Inc. * | 3,500 | 18,025 |
ANADIGICS, Inc. * | 8,150 | 1,875 |
Analog Devices, Inc. | 60,249 | 3,622,170 |
Applied Materials, Inc. | 232,598 | 3,900,668 |
Applied Micro Circuits Corp. * | 21,300 | 138,024 |
Atmel Corp. | 84,600 | 642,960 |
Avago Technologies Ltd. | 51,300 | 6,316,569 |
AXT, Inc. * | 3,500 | 7,700 |
Broadcom Corp., Class A | 111,590 | 5,735,726 |
Brooks Automation, Inc. | 11,885 | 131,210 |
Cabot Microelectronics Corp. * | 5,660 | 238,682 |
Cavium, Inc. * | 10,400 | 737,880 |
CEVA, Inc. * | 7,233 | 169,035 |
Cirrus Logic, Inc. * | 9,800 | 302,134 |
Cohu, Inc. | 7,500 | 94,425 |
Cree, Inc. *(c) | 20,900 | 526,471 |
Cypress Semiconductor Corp. * | 69,226 | 729,642 |
Diodes, Inc. * | 11,012 | 252,175 |
DSP Group, Inc. * | 6,300 | 63,630 |
Entegris, Inc. * | 48,499 | 622,242 |
Exar Corp. * | 9,834 | 55,955 |
Fairchild Semiconductor International, Inc. * | 17,800 | 296,904 |
First Solar, Inc. * | 13,279 | 757,833 |
FormFactor, Inc. * | 14,600 | 120,304 |
Freescale Semiconductor Ltd. * | 21,400 | 716,686 |
GSI Technology, Inc. * | 8,500 | 35,870 |
Integrated Device Technology, Inc. * | 26,920 | 686,460 |
Integrated Silicon Solution, Inc. | 9,338 | 209,918 |
Intel Corp. | 931,897 | 31,554,032 |
Intersil Corp., Class A | 26,764 | 362,652 |
IXYS Corp. | 6,900 | 85,974 |
KLA-Tencor Corp. | 29,000 | 1,946,480 |
Kopin Corp. * | 19,600 | 52,332 |
Kulicke & Soffa Industries, Inc. * | 18,500 | 196,100 |
Lam Research Corp. | 30,267 | 2,318,150 |
Lattice Semiconductor Corp. * | 25,100 | 114,958 |
Linear Technology Corp. | 49,900 | 2,216,558 |
Marvell Technology Group Ltd. | 111,400 | 914,594 |
Maxim Integrated Products, Inc. | 55,700 | 2,282,586 |
MaxLinear, Inc., Class A * | 4,422 | 57,486 |
Microchip Technology, Inc. | 42,875 | 2,070,434 |
Micron Technology, Inc. * | 208,307 | 3,449,564 |
Microsemi Corp. * | 22,552 | 812,098 |
MKS Instruments, Inc. | 7,900 | 278,396 |
Monolithic Power Systems, Inc. | 6,500 | 405,730 |
MoSys, Inc. * | 6,400 | 8,896 |
Nanometrics, Inc. * | 5,300 | 80,984 |
NVIDIA Corp. | 97,000 | 2,751,890 |
OmniVision Technologies, Inc. * | 13,900 | 401,293 |
ON Semiconductor Corp. * | 75,165 | 826,815 |
PDF Solutions, Inc. * | 9,699 | 102,421 |
Pericom Semiconductor Corp. | 6,600 | 115,170 |
Photronics, Inc. * | 18,000 | 172,620 |
PMC-Sierra, Inc. * | 54,300 | 647,256 |
Power Integrations, Inc. | 4,200 | 212,562 |
Security | Number of Shares | Value ($) |
Qorvo, Inc. * | 30,074 | 1,321,151 |
QuickLogic Corp. *(c) | 27,600 | 38,088 |
Rambus, Inc. * | 19,600 | 202,272 |
Rudolph Technologies, Inc. * | 16,418 | 209,986 |
Semtech Corp. * | 21,700 | 379,750 |
Silicon Laboratories, Inc. * | 5,000 | 249,850 |
Skyworks Solutions, Inc. | 35,789 | 2,764,342 |
SunEdison, Inc. * | 58,000 | 423,400 |
SunPower Corp. * | 6,800 | 182,512 |
Synaptics, Inc. * | 8,450 | 719,011 |
Teradyne, Inc. | 34,959 | 682,400 |
Tessera Technologies, Inc. | 11,100 | 388,167 |
Texas Instruments, Inc. | 201,197 | 11,411,894 |
Ultratech, Inc. * | 4,800 | 75,024 |
Veeco Instruments, Inc. * | 8,800 | 158,576 |
Xcerra Corp. * | 19,192 | 133,193 |
Xilinx, Inc. | 47,500 | 2,261,950 |
106,908,205 | ||
Software & Services 11.5% | ||
Accenture plc, Class A | 121,997 | 13,078,078 |
ACI Worldwide, Inc. * | 23,100 | 553,245 |
Activision Blizzard, Inc. | 98,232 | 3,414,544 |
Actua Corp. * | 8,050 | 111,492 |
Acxiom Corp. * | 13,300 | 294,196 |
Adobe Systems, Inc. * | 98,610 | 8,742,763 |
Akamai Technologies, Inc. * | 37,038 | 2,252,651 |
Alliance Data Systems Corp. * | 11,844 | 3,521,340 |
Alphabet, Inc., Class A * | 57,076 | 42,087,272 |
Alphabet, Inc., Class C * | 58,027 | 41,246,172 |
Amdocs Ltd. | 34,600 | 2,061,122 |
Angie's List, Inc. *(c) | 22,248 | 171,977 |
ANSYS, Inc. * | 19,286 | 1,838,149 |
Aspen Technology, Inc. * | 15,400 | 637,406 |
Autodesk, Inc. * | 44,300 | 2,444,917 |
Automatic Data Processing, Inc. | 89,762 | 7,808,396 |
Bankrate, Inc. * | 14,600 | 173,302 |
Bazaarvoice, Inc. * | 15,200 | 67,336 |
Blackbaud, Inc. | 13,400 | 840,046 |
Blackhawk Network Holdings, Inc. * | 12,003 | 511,088 |
Blucora, Inc. * | 11,572 | 113,406 |
Booz Allen Hamilton Holding Corp. | 24,800 | 730,608 |
Bottomline Technologies de, Inc. * | 8,800 | 243,584 |
Broadridge Financial Solutions, Inc. | 19,725 | 1,175,215 |
BroadSoft, Inc. * | 6,500 | 207,805 |
CA, Inc. | 69,408 | 1,923,296 |
CACI International, Inc., Class A * | 4,100 | 397,864 |
Cadence Design Systems, Inc. * | 47,500 | 1,055,450 |
Callidus Software, Inc. * | 16,546 | 287,404 |
Cardtronics, Inc. * | 8,800 | 303,600 |
CDK Global, Inc. | 32,620 | 1,624,150 |
Ciber, Inc. * | 24,900 | 88,893 |
Citrix Systems, Inc. * | 30,800 | 2,528,680 |
Cognizant Technology Solutions Corp., Class A * | 121,700 | 8,288,987 |
CommVault Systems, Inc. * | 6,900 | 279,588 |
Computer Sciences Corp. | 27,638 | 1,840,414 |
comScore, Inc. * | 7,500 | 320,850 |
Constant Contact, Inc. * | 7,000 | 182,700 |
Convergys Corp. | 16,000 | 410,720 |
CoreLogic, Inc. * | 23,100 | 900,438 |
Security | Number of Shares | Value ($) |
Cornerstone OnDemand, Inc. * | 7,100 | 223,650 |
CoStar Group, Inc. * | 6,600 | 1,340,262 |
Covisint Corp. * | 4,460 | 9,411 |
CSG Systems International, Inc. | 8,900 | 298,328 |
Demand Media, Inc. * | 5,920 | 25,752 |
Demandware, Inc. * | 6,800 | 385,560 |
Digimarc Corp. *(c) | 3,542 | 79,553 |
DST Systems, Inc. | 5,900 | 720,685 |
EarthLink Holdings Corp. | 17,050 | 145,777 |
eBay, Inc. * | 215,744 | 6,019,258 |
Ebix, Inc. (c) | 8,303 | 230,242 |
Edgewater Technology, Inc. * | 767 | 6,090 |
Electronic Arts, Inc. * | 62,500 | 4,504,375 |
Ellie Mae, Inc. * | 8,393 | 612,521 |
Endurance International Group Holdings, Inc. * | 13,300 | 177,289 |
EnerNOC, Inc. * | 9,754 | 76,471 |
Envestnet, Inc. * | 7,300 | 217,978 |
EPAM Systems, Inc. * | 7,800 | 603,330 |
Epiq Systems, Inc. | 8,525 | 117,645 |
Euronet Worldwide, Inc. * | 8,800 | 706,112 |
Everi Holdings, Inc. * | 28,300 | 132,444 |
EVERTEC, Inc. | 14,000 | 255,360 |
ExlService Holdings, Inc. * | 7,200 | 318,672 |
Facebook, Inc., Class A * | 444,207 | 45,295,788 |
Fair Isaac Corp. | 4,744 | 438,203 |
FalconStor Software, Inc. * | 1,200 | 2,400 |
Fidelity National Information Services, Inc. | 56,091 | 4,090,156 |
FireEye, Inc. * | 29,500 | 771,425 |
Fiserv, Inc. * | 48,600 | 4,690,386 |
FleetCor Technologies, Inc. * | 14,800 | 2,143,928 |
Forrester Research, Inc. | 6,800 | 219,436 |
Fortinet, Inc. * | 26,700 | 917,412 |
Gartner, Inc. * | 18,100 | 1,641,127 |
Genpact Ltd. * | 28,274 | 700,630 |
Global Payments, Inc. | 11,440 | 1,560,530 |
Glu Mobile, Inc. * | 38,900 | 160,268 |
Gogo, Inc. * | 16,000 | 226,080 |
GrubHub, Inc. *(c) | 20,400 | 489,192 |
GSE Systems, Inc. * | 2,424 | 3,297 |
Guidewire Software, Inc. * | 14,700 | 855,981 |
Heartland Payment Systems, Inc. | 7,700 | 569,800 |
Higher One Holdings, Inc. * | 19,400 | 57,036 |
HomeAway, Inc. * | 24,200 | 763,752 |
IAC/InterActiveCorp | 18,072 | 1,211,005 |
Imperva, Inc. * | 8,262 | 583,462 |
Infoblox, Inc. * | 8,600 | 140,266 |
Information Services Group, Inc. | 7,500 | 27,525 |
Interactive Intelligence Group, Inc. * | 2,900 | 93,786 |
Internap Corp. * | 13,200 | 89,232 |
International Business Machines Corp. | 176,151 | 24,675,232 |
Intralinks Holdings, Inc. * | 12,200 | 106,750 |
Intuit, Inc. | 54,530 | 5,312,858 |
j2 Global, Inc. | 9,000 | 697,950 |
Jack Henry & Associates, Inc. | 13,800 | 1,067,292 |
Jive Software, Inc. * | 27,994 | 136,331 |
Leidos Holdings, Inc. | 11,000 | 578,270 |
LinkedIn Corp., Class A * | 22,800 | 5,491,836 |
Lionbridge Technologies, Inc. * | 19,500 | 105,105 |
Liquidity Services, Inc. * | 15,481 | 126,789 |
Security | Number of Shares | Value ($) |
LivePerson, Inc. * | 19,700 | 153,660 |
LogMeIn, Inc. * | 7,600 | 511,936 |
Manhattan Associates, Inc. * | 16,300 | 1,187,455 |
ManTech International Corp., Class A | 8,600 | 248,540 |
Marketo, Inc. * | 6,684 | 196,710 |
MasterCard, Inc., Class A | 195,156 | 19,318,492 |
Mattersight Corp. * | 190 | 1,370 |
MAXIMUS, Inc. | 11,300 | 770,660 |
Mentor Graphics Corp. | 23,800 | 647,360 |
Microsoft Corp. | 1,569,518 | 82,619,428 |
MicroStrategy, Inc., Class A * | 2,256 | 388,190 |
ModusLink Global Solutions, Inc. * | 10,450 | 30,201 |
MoneyGram International, Inc. * | 9,037 | 91,364 |
Monotype Imaging Holdings, Inc. | 6,500 | 177,710 |
Monster Worldwide, Inc. * | 35,800 | 224,466 |
NetSuite, Inc. * | 7,900 | 672,053 |
NeuStar, Inc., Class A *(c) | 9,300 | 252,867 |
NIC, Inc. | 8,000 | 151,760 |
Nuance Communications, Inc. * | 59,974 | 1,017,759 |
Oracle Corp. | 636,313 | 24,714,397 |
Pandora Media, Inc. * | 38,400 | 441,984 |
Paychex, Inc. | 61,864 | 3,190,945 |
PayPal Holdings, Inc. * | 215,744 | 7,768,941 |
Pegasystems, Inc. | 12,800 | 356,992 |
Perficient, Inc. * | 7,800 | 130,416 |
PRGX Global, Inc. * | 11,000 | 41,250 |
Progress Software Corp. * | 9,300 | 225,804 |
Proofpoint, Inc. * | 9,000 | 633,960 |
PROS Holdings, Inc. * | 7,826 | 187,981 |
PTC, Inc. * | 19,780 | 701,003 |
Qlik Technologies, Inc. * | 22,200 | 696,414 |
Qualys, Inc. * | 5,600 | 197,792 |
Rackspace Hosting, Inc. * | 23,700 | 612,645 |
RealNetworks, Inc. * | 12,725 | 49,373 |
RealPage, Inc. * | 10,500 | 177,450 |
Red Hat, Inc. * | 36,600 | 2,895,426 |
Reis, Inc. | 1,400 | 34,076 |
Rightside Group Ltd. *(c) | 5,920 | 47,656 |
Rovi Corp. * | 15,412 | 141,020 |
Sabre Corp. | 20,500 | 601,060 |
salesforce.com, Inc. * | 120,222 | 9,342,452 |
Science Applications International Corp. | 6,285 | 288,230 |
Seachange International, Inc. * | 9,250 | 59,847 |
ServiceNow, Inc. * | 27,100 | 2,212,715 |
ServiceSource International, Inc. * | 14,400 | 61,488 |
Shutterstock, Inc. *(c) | 4,000 | 113,920 |
SolarWinds, Inc. * | 12,000 | 696,360 |
Solera Holdings, Inc. | 11,400 | 623,124 |
Splunk, Inc. * | 27,000 | 1,516,320 |
SPS Commerce, Inc. * | 4,300 | 308,826 |
SS&C Technologies Holdings, Inc. | 16,700 | 1,238,305 |
Stamps.com, Inc. * | 5,827 | 440,579 |
StarTek, Inc. * | 3,900 | 14,040 |
support.com, Inc. * | 18,400 | 21,344 |
Sykes Enterprises, Inc. * | 11,026 | 319,754 |
Symantec Corp. | 139,573 | 2,875,204 |
Synchronoss Technologies, Inc. * | 8,100 | 284,958 |
Synopsys, Inc. * | 28,084 | 1,403,638 |
Syntel, Inc. * | 8,600 | 404,544 |
Tableau Software, Inc., Class A * | 10,742 | 901,898 |
Security | Number of Shares | Value ($) |
Take-Two Interactive Software, Inc. * | 22,600 | 750,320 |
Tangoe, Inc. * | 8,200 | 67,896 |
TeleCommunication Systems, Inc., Class A * | 10,800 | 44,172 |
TeleTech Holdings, Inc. | 9,100 | 264,810 |
Teradata Corp. * | 27,000 | 758,970 |
Textura, Corp. *(c) | 6,941 | 203,788 |
The Hackett Group, Inc. | 7,200 | 107,136 |
The Ultimate Software Group, Inc. * | 6,600 | 1,348,710 |
The Western Union Co. | 102,032 | 1,964,116 |
TiVo, Inc. * | 17,800 | 161,624 |
Total System Services, Inc. | 36,904 | 1,935,615 |
Twitter, Inc. * | 113,500 | 3,230,210 |
Tyler Technologies, Inc. * | 6,800 | 1,158,448 |
Unisys Corp. * | 18,200 | 243,880 |
United Online, Inc. * | 2,478 | 28,943 |
Unwired Planet, Inc. * | 7,771 | 6,583 |
Vantiv, Inc., Class A * | 24,900 | 1,248,735 |
VASCO Data Security International, Inc. *(c) | 9,200 | 174,892 |
VeriFone Systems, Inc. * | 18,000 | 542,520 |
Verint Systems, Inc. * | 9,510 | 452,486 |
VeriSign, Inc. * | 22,275 | 1,795,365 |
VirnetX Holding Corp. *(c) | 10,600 | 40,280 |
Virtusa Corp. * | 4,700 | 269,921 |
Visa, Inc., Class A | 381,804 | 29,620,354 |
VMware, Inc., Class A *(c) | 17,100 | 1,028,565 |
Web.com Group, Inc. * | 8,923 | 209,423 |
WebMD Health Corp. * | 7,074 | 287,629 |
WEX, Inc. * | 6,400 | 575,424 |
Workday, Inc., Class A * | 20,100 | 1,587,297 |
Xerox Corp. | 194,056 | 1,822,186 |
Xura, Inc. * | 6,250 | 161,750 |
Yahoo! Inc. * | 169,444 | 6,035,595 |
Yelp, Inc. * | 14,300 | 318,175 |
Zendesk, Inc. * | 15,000 | 301,800 |
Zillow Group, Inc., Class A *(c) | 8,797 | 271,036 |
Zillow Group, Inc., Class C *(c) | 17,594 | 487,178 |
Zynga, Inc., Class A * | 127,000 | 300,990 |
513,449,359 | ||
Technology Hardware & Equipment 6.0% | ||
3D Systems Corp. *(c) | 18,800 | 189,128 |
ADTRAN, Inc. | 9,100 | 141,323 |
Agilysys, Inc. * | 8,460 | 96,190 |
Amphenol Corp., Class A | 60,800 | 3,296,576 |
Anixter International, Inc. * | 4,000 | 274,320 |
Apple, Inc. | 1,122,262 | 134,110,309 |
Arista Networks, Inc. *(c) | 8,600 | 554,786 |
ARRIS Group, Inc. * | 24,075 | 680,359 |
Arrow Electronics, Inc. * | 18,532 | 1,019,075 |
Aviat Networks, Inc. * | 18,877 | 19,255 |
Avnet, Inc. | 26,588 | 1,207,893 |
AVX Corp. | 14,000 | 189,000 |
Badger Meter, Inc. | 4,000 | 242,320 |
Belden, Inc. | 6,900 | 441,807 |
Benchmark Electronics, Inc. * | 7,830 | 154,877 |
Black Box Corp. | 4,100 | 50,061 |
Brocade Communications Systems, Inc. | 106,135 | 1,105,927 |
Security | Number of Shares | Value ($) |
CalAmp Corp. * | 4,000 | 75,840 |
CDW Corp. | 24,400 | 1,090,436 |
Checkpoint Systems, Inc. | 7,100 | 53,108 |
Ciena Corp. * | 17,970 | 433,796 |
Cisco Systems, Inc. | 992,840 | 28,643,434 |
Cognex Corp. | 14,800 | 556,480 |
Coherent, Inc. * | 4,100 | 222,220 |
CommScope Holding Co., Inc. * | 27,582 | 894,484 |
Comtech Telecommunications Corp. | 4,175 | 100,868 |
Corning, Inc. | 239,007 | 4,445,530 |
Cray, Inc. * | 7,600 | 225,188 |
CTS Corp. | 8,800 | 159,984 |
Daktronics, Inc. | 8,700 | 84,390 |
Diebold, Inc. | 12,900 | 475,623 |
Digi International, Inc. * | 9,100 | 117,390 |
Dolby Laboratories, Inc., Class A | 8,800 | 305,096 |
DTS, Inc. * | 4,300 | 127,968 |
Echelon Corp. * | 7,200 | 4,176 |
EchoStar Corp., Class A * | 6,740 | 302,154 |
Electro Rent Corp. | 7,100 | 73,698 |
Electro Scientific Industries, Inc. | 9,900 | 46,233 |
Electronics for Imaging, Inc. * | 15,500 | 719,820 |
EMC Corp. | 374,899 | 9,829,852 |
Extreme Networks, Inc. * | 27,500 | 98,725 |
F5 Networks, Inc. * | 13,100 | 1,443,620 |
Fabrinet * | 11,108 | 240,710 |
FARO Technologies, Inc. * | 3,000 | 101,370 |
FEI Co. | 10,000 | 721,900 |
Finisar Corp. * | 15,800 | 179,646 |
Fitbit, Inc., Class A * | 5,000 | 202,700 |
FLIR Systems, Inc. | 26,100 | 696,087 |
Frequency Electronics, Inc. * | 500 | 5,460 |
Harmonic, Inc. * | 20,042 | 115,442 |
Harris Corp. | 22,755 | 1,800,603 |
Hewlett-Packard Co. | 353,736 | 9,536,723 |
Hutchinson Technology, Inc. * | 6,000 | 10,500 |
I.D. Systems, Inc. * | 5,500 | 19,360 |
Identiv, Inc. * | 120 | 308 |
II-VI, Inc. * | 13,000 | 235,560 |
Imation Corp. * | 5,500 | 11,110 |
Immersion Corp. * | 4,300 | 55,814 |
Infinera Corp. * | 27,300 | 539,448 |
Ingram Micro, Inc., Class A | 25,500 | 759,390 |
Insight Enterprises, Inc. * | 8,950 | 227,330 |
Intellicheck Mobilisa, Inc. * | 62 | 63 |
InterDigital, Inc. | 6,700 | 339,958 |
InvenSense, Inc. * | 8,900 | 106,088 |
IPG Photonics Corp. * | 7,400 | 611,388 |
Itron, Inc. * | 5,700 | 209,361 |
Ixia * | 14,900 | 214,709 |
Jabil Circuit, Inc. | 35,300 | 811,194 |
Juniper Networks, Inc. | 75,965 | 2,384,541 |
Keysight Technologies, Inc. * | 31,458 | 1,040,631 |
Kimball Electronics, Inc. * | 6,825 | 77,737 |
Knowles Corp. *(c) | 13,900 | 231,574 |
Lexmark International, Inc., Class A | 10,900 | 354,141 |
LightPath Technologies, Inc., Class A * | 75 | 110 |
Littelfuse, Inc. | 3,700 | 369,741 |
Lumentum Holdings, Inc. * | 8,910 | 127,769 |
Maxwell Technologies, Inc. *(c) | 7,700 | 46,200 |
Security | Number of Shares | Value ($) |
Mercury Systems, Inc. * | 7,800 | 133,848 |
Methode Electronics, Inc. | 9,500 | 316,635 |
MOCON, Inc. | 600 | 8,226 |
Motorola Solutions, Inc. | 34,733 | 2,430,268 |
MTS Systems Corp. | 3,781 | 249,659 |
Multi-Fineline Electronix, Inc. * | 5,700 | 105,906 |
National Instruments Corp. | 16,112 | 490,933 |
NCR Corp. * | 35,100 | 933,660 |
NetApp, Inc. | 64,900 | 2,206,600 |
NETGEAR, Inc. * | 6,000 | 248,400 |
NetScout Systems, Inc. * | 26,000 | 932,620 |
Newport Corp. * | 8,500 | 128,435 |
Nimble Storage, Inc. * | 16,100 | 363,860 |
OSI Systems, Inc. * | 3,700 | 318,866 |
Palo Alto Networks, Inc. * | 14,900 | 2,398,900 |
Park Electrochemical Corp. | 3,600 | 58,824 |
PC Connection, Inc. | 7,000 | 162,680 |
PC-Tel, Inc. | 8,900 | 50,864 |
Plantronics, Inc. | 6,000 | 321,720 |
Plexus Corp. * | 6,500 | 225,030 |
Polycom, Inc. * | 22,400 | 308,672 |
QLogic Corp. * | 17,044 | 211,346 |
QUALCOMM, Inc. | 305,839 | 18,172,953 |
Quantum Corp. * | 125,000 | 105,000 |
Radisys Corp. * | 7,200 | 18,504 |
Research Frontiers, Inc. *(c) | 2,800 | 14,084 |
Richardson Electronics Ltd. | 7,300 | 43,800 |
Rofin-Sinar Technologies, Inc. * | 3,800 | 110,048 |
Rogers Corp. * | 4,200 | 195,384 |
SanDisk Corp. | 41,700 | 3,210,900 |
Sanmina Corp. * | 20,900 | 432,003 |
ScanSource, Inc. * | 6,300 | 217,413 |
Seagate Technology plc | 61,966 | 2,358,426 |
Sonus Networks, Inc. * | 15,860 | 104,835 |
Super Micro Computer, Inc. * | 8,200 | 231,322 |
SYNNEX Corp. | 8,400 | 742,896 |
TE Connectivity Ltd. | 78,300 | 5,045,652 |
Tech Data Corp. * | 5,300 | 385,787 |
TESSCO Technologies, Inc. | 4,025 | 87,906 |
TransAct Technologies, Inc. | 1,500 | 14,355 |
Trimble Navigation Ltd. * | 62,084 | 1,412,411 |
TTM Technologies, Inc. * | 11,000 | 80,300 |
Ubiquiti Networks, Inc. *(c) | 3,200 | 93,376 |
Universal Display Corp. * | 5,800 | 198,998 |
ViaSat, Inc. * | 10,700 | 705,772 |
Viavi Solutions, Inc. * | 44,553 | 265,090 |
Vishay Intertechnology, Inc. | 18,588 | 197,033 |
Vishay Precision Group, Inc. * | 5,620 | 65,923 |
Western Digital Corp. | 47,345 | 3,163,593 |
Zebra Technologies Corp., Class A * | 9,575 | 736,317 |
267,704,018 | ||
Telecommunication Services 2.1% | ||
Alaska Communications Systems Group, Inc. * | 5,000 | 11,450 |
Alteva, Inc. | 1,100 | 4,884 |
AT&T, Inc. | 1,200,507 | 40,228,990 |
Atlantic Tele-Network, Inc. | 3,250 | 248,365 |
CenturyLink, Inc. | 114,178 | 3,220,961 |
Cincinnati Bell, Inc. * | 61,468 | 231,734 |
Security | Number of Shares | Value ($) |
Cogent Communications Holdings, Inc. | 9,900 | 304,128 |
Consolidated Communications Holdings, Inc. | 16,757 | 370,330 |
Frontier Communications Corp. | 257,368 | 1,322,871 |
General Communication, Inc., Class A * | 10,500 | 213,832 |
Globalstar, Inc. *(c) | 42,400 | 76,320 |
inContact, Inc. * | 20,172 | 179,531 |
Iridium Communications, Inc. * | 11,800 | 96,878 |
Level 3 Communications, Inc. * | 62,725 | 3,195,839 |
Lumos Networks Corp. | 1,500 | 19,440 |
NTELOS Holdings Corp. * | 4,500 | 41,355 |
Premiere Global Services, Inc. * | 11,400 | 155,952 |
SBA Communications Corp., Class A * | 26,400 | 3,142,128 |
Shenandoah Telecommunications Co. | 7,100 | 332,209 |
Spok Holdings, Inc. | 5,500 | 99,165 |
Sprint Corp. * | 142,805 | 675,468 |
T-Mobile US, Inc. * | 57,450 | 2,176,780 |
Telephone & Data Systems, Inc. | 22,222 | 636,438 |
United States Cellular Corp. * | 5,400 | 219,996 |
Verizon Communications, Inc. | 795,069 | 37,272,835 |
Vonage Holdings Corp. * | 36,400 | 220,948 |
Windstream Holdings, Inc. (c) | 18,211 | 118,554 |
Zayo Group Holdings, Inc. * | 12,000 | 318,360 |
95,135,741 | ||
Transportation 2.1% | ||
Alaska Air Group, Inc. | 25,000 | 1,906,250 |
Allegiant Travel Co. | 3,200 | 631,840 |
AMERCO | 1,000 | 406,310 |
American Airlines Group, Inc. | 130,597 | 6,036,193 |
ArcBest Corp. | 4,800 | 124,320 |
Atlas Air Worldwide Holdings, Inc. * | 6,500 | 268,060 |
Avis Budget Group, Inc. * | 20,600 | 1,028,764 |
C.H. Robinson Worldwide, Inc. | 29,100 | 2,018,958 |
Celadon Group, Inc. | 8,890 | 128,727 |
Covenant Transport Group, Inc., Class A * | 3,000 | 57,900 |
CSX Corp. | 192,700 | 5,200,973 |
Delta Air Lines, Inc. | 153,911 | 7,824,835 |
Expeditors International of Washington, Inc. | 40,900 | 2,036,411 |
FedEx Corp. | 51,363 | 8,015,196 |
Forward Air Corp. | 4,600 | 208,656 |
Genesee & Wyoming, Inc., Class A * | 9,000 | 603,900 |
Hawaiian Holdings, Inc. * | 10,700 | 371,290 |
Heartland Express, Inc. | 16,241 | 305,818 |
Hertz Global Holdings, Inc. * | 87,300 | 1,702,350 |
Hub Group, Inc., Class A * | 7,100 | 283,858 |
JB Hunt Transport Services, Inc. | 19,600 | 1,496,852 |
JetBlue Airways Corp. * | 60,662 | 1,506,844 |
Kansas City Southern | 23,255 | 1,924,584 |
Kirby Corp. * | 11,100 | 724,719 |
Knight Transportation, Inc. | 14,650 | 372,403 |
Landstar System, Inc. | 6,600 | 416,064 |
Macquarie Infrastructure Corp. | 13,700 | 1,089,835 |
Marten Transport Ltd. | 9,476 | 155,312 |
Matson, Inc. | 10,500 | 481,215 |
Security | Number of Shares | Value ($) |
Norfolk Southern Corp. | 57,500 | 4,601,725 |
Old Dominion Freight Line, Inc. * | 12,412 | 768,799 |
Park-Ohio Holdings Corp. | 3,600 | 124,200 |
Republic Airways Holdings, Inc. * | 12,500 | 72,000 |
Roadrunner Transportation Systems, Inc. * | 4,900 | 52,136 |
Ryder System, Inc. | 9,500 | 681,910 |
Saia, Inc. * | 4,450 | 105,065 |
SkyWest, Inc. | 7,000 | 133,280 |
Southwest Airlines Co. | 129,015 | 5,972,104 |
Spirit Airlines, Inc. * | 14,000 | 519,680 |
Swift Transportation Co. * | 19,000 | 296,970 |
Union Pacific Corp. | 170,970 | 15,276,169 |
United Continental Holdings, Inc. * | 75,700 | 4,565,467 |
United Parcel Service, Inc., Class B | 135,285 | 13,937,061 |
Universal Truckload Services, Inc. (c) | 3,300 | 52,734 |
UTI Worldwide, Inc. * | 14,600 | 104,098 |
Werner Enterprises, Inc. | 10,032 | 265,447 |
Wesco Aircraft Holdings, Inc. * | 13,500 | 168,210 |
XPO Logistics, Inc. *(c) | 11,710 | 325,070 |
YRC Worldwide, Inc. * | 8,600 | 157,036 |
95,507,598 | ||
Utilities 3.0% | ||
AES Corp. | 138,596 | 1,517,626 |
AGL Resources, Inc. | 21,529 | 1,345,563 |
ALLETE, Inc. | 14,633 | 734,723 |
Alliant Energy Corp. | 26,300 | 1,552,226 |
Ameren Corp. | 43,176 | 1,885,928 |
American DG Energy, Inc. * | 11,400 | 6,270 |
American Electric Power Co., Inc. | 92,320 | 5,229,928 |
American States Water Co. | 9,600 | 391,200 |
American Water Works Co., Inc. | 31,200 | 1,789,632 |
Aqua America, Inc. | 37,467 | 1,071,556 |
Artesian Resources Corp., Class A | 4,000 | 97,440 |
Atmos Energy Corp. | 17,400 | 1,096,200 |
Avista Corp. | 15,800 | 534,830 |
Black Hills Corp. | 7,700 | 352,506 |
Cadiz, Inc. *(c) | 6,356 | 21,738 |
California Water Service Group | 11,300 | 252,668 |
Calpine Corp. * | 65,100 | 1,009,701 |
CenterPoint Energy, Inc. | 88,700 | 1,645,385 |
Chesapeake Utilities Corp. | 2,770 | 144,622 |
Cleco Corp. | 11,700 | 620,100 |
CMS Energy Corp. | 56,959 | 2,054,511 |
Connecticut Water Service, Inc. | 5,100 | 187,731 |
Consolidated Edison, Inc. | 55,510 | 3,649,782 |
Delta Natural Gas Co., Inc. | 1,291 | 26,375 |
Dominion Resources, Inc. | 115,465 | 8,247,665 |
DTE Energy Co. | 33,748 | 2,753,499 |
Duke Energy Corp. | 133,750 | 9,559,112 |
Dynegy, Inc. * | 27,300 | 530,439 |
Edison International | 62,910 | 3,807,313 |
El Paso Electric Co. | 11,300 | 436,971 |
Entergy Corp. | 34,293 | 2,337,411 |
Eversource Energy | 61,336 | 3,124,456 |
Exelon Corp. | 168,869 | 4,714,822 |
FirstEnergy Corp. | 82,056 | 2,560,147 |
Genie Energy Ltd., Class B * | 12,800 | 145,152 |
Great Plains Energy, Inc. | 41,341 | 1,136,878 |
Security | Number of Shares | Value ($) |
Hawaiian Electric Industries, Inc. | 19,300 | 564,718 |
IDACORP, Inc. | 9,800 | 655,130 |
ITC Holdings Corp. | 33,000 | 1,079,760 |
MDU Resources Group, Inc. | 36,025 | 679,432 |
MGE Energy, Inc. | 9,950 | 410,637 |
Middlesex Water Co. | 9,400 | 242,238 |
National Fuel Gas Co. | 20,700 | 1,087,371 |
New Jersey Resources Corp. | 12,450 | 394,416 |
NextEra Energy, Inc. | 89,372 | 9,174,930 |
NiSource, Inc. | 65,764 | 1,260,038 |
Northwest Natural Gas Co. | 6,300 | 300,951 |
NorthWestern Corp. | 7,100 | 384,749 |
NRG Energy, Inc. | 63,356 | 816,659 |
NRG Yield, Inc., Class A | 8,300 | 113,959 |
NRG Yield, Inc., Class C | 8,300 | 119,852 |
OGE Energy Corp. | 41,200 | 1,174,612 |
ONE Gas, Inc. | 8,525 | 416,361 |
Ormat Technologies, Inc. | 8,600 | 324,392 |
Otter Tail Corp. | 7,800 | 214,032 |
Pattern Energy Group, Inc. | 6,400 | 149,696 |
Pepco Holdings, Inc. | 48,400 | 1,288,892 |
PG&E Corp. | 94,100 | 5,024,940 |
Piedmont Natural Gas Co., Inc. | 24,400 | 1,398,364 |
Pinnacle West Capital Corp. | 24,200 | 1,536,942 |
PNM Resources, Inc. | 11,200 | 314,944 |
Portland General Electric Co. | 24,800 | 919,584 |
PPL Corp. | 125,700 | 4,324,080 |
Public Service Enterprise Group, Inc. | 97,800 | 4,038,162 |
Pure Cycle Corp. *(c) | 8,000 | 40,800 |
Questar Corp. | 28,900 | 596,785 |
SCANA Corp. | 27,305 | 1,617,002 |
Sempra Energy | 44,396 | 4,546,594 |
SJW Corp. | 4,470 | 141,833 |
South Jersey Industries, Inc. | 8,400 | 222,684 |
Southwest Gas Corp. | 13,400 | 823,564 |
Talen Energy Corp. * | 15,700 | 136,276 |
TECO Energy, Inc. | 41,000 | 1,107,000 |
TerraForm Power, Inc., Class A * | 9,400 | 171,550 |
The Empire District Electric Co. | 11,200 | 252,560 |
The Laclede Group, Inc. | 15,200 | 890,264 |
The Southern Co. | 172,921 | 7,798,737 |
The York Water Co. | 6,100 | 141,398 |
UGI Corp. | 27,900 | 1,023,093 |
UIL Holdings Corp. | 11,166 | 569,354 |
Unitil Corp. | 7,200 | 255,384 |
Vectren Corp. | 15,266 | 694,145 |
WEC Energy Group, Inc. | 61,277 | 3,159,442 |
Westar Energy, Inc. | 28,600 | 1,135,420 |
WGL Holdings, Inc. | 7,300 | 454,279 |
Xcel Energy, Inc. | 103,108 | 3,673,738 |
134,433,849 | ||
Total Common Stock | ||
(Cost $2,804,713,777) | 4,440,133,759 | |
Rights 0.0% of net assets | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
FRD Acquisition Co. CVR *(b)(e) | 8,700 | — |
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment 0.0% | ||
Gerber Scientific, Inc. CVR *(b)(e) | 8,900 | — |
Telecommunication Services 0.0% | ||
Leap Wireless CVR *(b)(e) | 13,000 | 32,760 |
Total Rights | ||
(Cost $32,982) | 32,760 | |
Warrants 0.0% of net assets | ||
Energy 0.0% | ||
Magnum Hunter Resources Corp. *(b)(e) | 2,293 | — |
Total Warrants | ||
(Cost $—) | — | |
Other Investment Company 0.8% of net assets | ||
Securities Lending Collateral 0.8% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (d) | 36,468,372 | 36,468,372 |
Total Other Investment Company | ||
(Cost $36,468,372) | 36,468,372 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.5% of net assets | ||
Time Deposits 1.5% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.03%, 11/02/15 | 44,948,979 | 44,948,979 |
Wells Fargo | ||
0.03%, 11/02/15 | 22,256,653 | 22,256,653 |
Total Short-Term Investments | ||
(Cost $67,205,632) | 67,205,632 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | Illiquid security. At the period end, the value of these amounted to $32,760 or 0.0% of net assets. |
(c) | All or a portion of this security is on loan. Securities on loan were valued at $35,642,649. |
(d) | The rate shown is the 7-day yield. |
(e) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/18/15 | 35 | 4,054,050 | 52,723 | |||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 230 | 23,847,550 | 1,048,233 | |||
Net Unrealized Appreciation | 1,100,956 |
Holdings by Category | Cost ($) | Value ($) | |
97.8% | Common Stock | 2,378,291,644 | 2,781,955,810 |
0.5% | Preferred Stock | 15,443,474 | 14,364,962 |
0.4% | Other Investment Company | 12,250,477 | 12,250,477 |
1.2% | Short-Term Investments | 32,604,445 | 32,604,445 |
99.9% | Total Investments | 2,438,590,040 | 2,841,175,694 |
0.1% | Other Assets and Liabilities, Net | 3,157,769 | |
100.0% | Net Assets | 2,844,333,463 |
Security | Number of Shares | Value ($) |
Common Stock 97.8% of net assets | ||
Australia 6.2% | ||
Banks 2.2% | ||
Australia & New Zealand Banking Group Ltd. | 618,955 | 11,970,769 |
Bank of Queensland Ltd. | 89,063 | 825,667 |
Bendigo & Adelaide Bank Ltd. | 98,787 | 749,414 |
Commonwealth Bank of Australia | 379,463 | 20,604,067 |
National Australia Bank Ltd. | 585,298 | 12,498,831 |
Westpac Banking Corp. * | 29,815 | 647,400 |
Westpac Banking Corp. | 685,727 | 15,273,888 |
62,570,036 | ||
Capital Goods 0.0% | ||
CIMIC Group Ltd. | 26,359 | 516,720 |
Commercial & Professional Supplies 0.1% | ||
Brambles Ltd. | 338,913 | 2,495,747 |
Seek Ltd. | 74,156 | 673,658 |
3,169,405 | ||
Consumer Services 0.1% | ||
Aristocrat Leisure Ltd. | 120,776 | 797,232 |
Crown Resorts Ltd. | 86,330 | 699,663 |
Flight Centre Travel Group Ltd. (a) | 11,202 | 301,374 |
Tabcorp Holdings Ltd. | 197,467 | 659,950 |
Tatts Group Ltd. | 311,493 | 874,588 |
3,332,807 |
Security | Number of Shares | Value ($) |
Diversified Financials 0.2% | ||
ASX Ltd. | 42,332 | 1,237,524 |
Macquarie Group Ltd. | 67,748 | 4,102,063 |
Platinum Asset Management Ltd. | 46,261 | 242,546 |
5,582,133 | ||
Energy 0.3% | ||
Caltex Australia Ltd. | 59,417 | 1,330,125 |
Origin Energy Ltd. | 383,647 | 1,490,776 |
Santos Ltd. | 217,726 | 898,802 |
Woodside Petroleum Ltd. | 162,333 | 3,404,603 |
WorleyParsons Ltd. | 40,513 | 186,906 |
7,311,212 | ||
Food & Staples Retailing 0.4% | ||
Wesfarmers Ltd. | 252,624 | 7,064,453 |
Woolworths Ltd. | 284,343 | 4,871,142 |
11,935,595 | ||
Food, Beverage & Tobacco 0.1% | ||
Coca-Cola Amatil Ltd. | 129,657 | 839,041 |
Treasury Wine Estates Ltd. | 153,623 | 768,892 |
1,607,933 | ||
Health Care Equipment & Services 0.1% | ||
Cochlear Ltd. | 13,562 | 855,941 |
Healthscope Ltd. | 273,248 | 523,124 |
Ramsay Health Care Ltd. | 30,893 | 1,357,982 |
Sonic Healthcare Ltd. | 85,234 | 1,165,712 |
3,902,759 | ||
Insurance 0.4% | ||
AMP Ltd. | 672,544 | 2,727,710 |
Insurance Australia Group Ltd. | 534,332 | 2,123,892 |
Medibank Pvt Ltd. | 623,599 | 1,046,177 |
QBE Insurance Group Ltd. | 307,020 | 2,873,935 |
Suncorp Group Ltd. | 292,776 | 2,719,758 |
11,491,472 | ||
Materials 0.9% | ||
Alumina Ltd. | 529,070 | 405,904 |
Amcor Ltd. | 260,682 | 2,517,877 |
BHP Billiton Ltd. | 719,690 | 11,803,446 |
Boral Ltd. | 158,683 | 606,996 |
Fortescue Metals Group Ltd. (a) | 384,488 | 568,134 |
Iluka Resources Ltd. | 88,811 | 402,730 |
Incitec Pivot Ltd. | 387,731 | 1,082,756 |
Newcrest Mining Ltd. * | 168,083 | 1,464,214 |
Orica Ltd. | 85,202 | 996,725 |
Rio Tinto Ltd. | 93,233 | 3,333,830 |
South32 Ltd. * | 1,132,663 | 1,172,887 |
24,355,499 | ||
Media 0.0% | ||
REA Group Ltd. | 11,698 | 397,566 |
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||
CSL Ltd. | 104,279 | 6,931,451 |
Real Estate 0.6% | ||
Dexus Property Group | 212,604 | 1,167,062 |
Federation Centres (d) | 732,685 | 1,513,552 |
Goodman Group | 376,758 | 1,616,431 |
Lend Lease Group | 121,117 | 1,113,971 |
Mirvac Group | 854,706 | 1,092,526 |
Security | Number of Shares | Value ($) |
Scentre Group | 1,188,720 | 3,486,670 |
Stockland | 506,718 | 1,454,306 |
The GPT Group | 397,163 | 1,345,122 |
Westfield Corp. | 440,722 | 3,197,491 |
15,987,131 | ||
Retailing 0.0% | ||
Harvey Norman Holdings Ltd. | 132,814 | 373,149 |
Software & Services 0.0% | ||
Computershare Ltd. | 98,275 | 753,224 |
Telecommunication Services 0.2% | ||
Telstra Corp., Ltd. | 972,819 | 3,727,495 |
TPG Telecom Ltd. | 68,681 | 538,315 |
4,265,810 | ||
Transportation 0.3% | ||
Asciano Ltd. | 218,233 | 1,270,882 |
Aurizon Holdings Ltd. | 462,305 | 1,695,046 |
Qantas Airways Ltd. * | 98,127 | 276,399 |
Sydney Airport | 251,805 | 1,150,775 |
Transurban Group | 431,356 | 3,196,365 |
7,589,467 | ||
Utilities 0.1% | ||
AGL Energy Ltd. | 145,962 | 1,730,913 |
APA Group | 241,967 | 1,576,460 |
AusNet Services | 407,266 | 417,706 |
3,725,079 | ||
175,798,448 | ||
Austria 0.2% | ||
Banks 0.1% | ||
Erste Group Bank AG * | 61,150 | 1,793,150 |
Raiffeisen Bank International AG * | 22,302 | 351,921 |
2,145,071 | ||
Capital Goods 0.0% | ||
ANDRITZ AG | 16,557 | 831,860 |
Energy 0.1% | ||
OMV AG | 34,514 | 919,031 |
Materials 0.0% | ||
voestalpine AG | 24,764 | 895,371 |
4,791,333 | ||
Belgium 1.3% | ||
Banks 0.1% | ||
KBC Groep N.V. | 56,880 | 3,458,398 |
Diversified Financials 0.0% | ||
Groupe Bruxelles Lambert S.A. | 17,007 | 1,380,454 |
Food & Staples Retailing 0.1% | ||
Colruyt S.A. | 14,318 | 708,214 |
Delhaize Group | 23,014 | 2,135,441 |
2,843,655 | ||
Food, Beverage & Tobacco 0.8% | ||
Anheuser-Busch InBev N.V. | 179,808 | 21,455,518 |
Insurance 0.1% | ||
Ageas | 44,712 | 1,971,703 |
Security | Number of Shares | Value ($) |
Materials 0.1% | ||
Solvay S.A. | 12,824 | 1,448,742 |
Umicore S.A. | 22,105 | 938,535 |
2,387,277 | ||
Media 0.0% | ||
Telenet Group Holding N.V. * | 11,584 | 673,763 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
UCB S.A. | 28,803 | 2,489,671 |
Telecommunication Services 0.0% | ||
Proximus | 34,582 | 1,196,703 |
37,857,142 | ||
Denmark 1.7% | ||
Banks 0.2% | ||
Danske Bank A/S | 159,024 | 4,375,331 |
Capital Goods 0.1% | ||
Vestas Wind Systems A/S | 50,062 | 2,918,825 |
Commercial & Professional Supplies 0.0% | ||
ISS A/S | 33,325 | 1,172,248 |
Consumer Durables & Apparel 0.1% | ||
Pandora A/S | 24,107 | 2,781,883 |
Food, Beverage & Tobacco 0.1% | ||
Carlsberg A/S, Class B | 24,724 | 2,025,616 |
Health Care Equipment & Services 0.1% | ||
Coloplast A/S, Class B | 24,946 | 1,789,233 |
William Demant Holding A/S * | 4,937 | 428,915 |
2,218,148 | ||
Insurance 0.0% | ||
Tryg A/S | 28,614 | 514,229 |
Materials 0.1% | ||
Novozymes A/S, B Shares | 52,176 | 2,418,728 |
Pharmaceuticals, Biotechnology & Life Sciences 0.8% | ||
Novo Nordisk A/S, Class B | 436,977 | 23,204,996 |
Telecommunication Services 0.0% | ||
TDC A/S | 180,494 | 943,603 |
Transportation 0.2% | ||
AP Moeller - Maersk A/S, Series A | 825 | 1,182,957 |
AP Moeller - Maersk A/S, Series B | 1,576 | 2,325,893 |
DSV A/S | 39,169 | 1,589,449 |
5,098,299 | ||
47,671,906 | ||
Finland 0.9% | ||
Automobiles & Components 0.0% | ||
Nokian Renkaat Oyj | 26,034 | 982,173 |
Capital Goods 0.2% | ||
Kone Oyj, Class B | 73,401 | 3,130,589 |
Metso Oyj | 25,010 | 612,298 |
Wartsila Oyj Abp | 33,092 | 1,412,729 |
5,155,616 | ||
Energy 0.0% | ||
Neste Oyj | 30,786 | 750,640 |
Security | Number of Shares | Value ($) |
Insurance 0.2% | ||
Sampo Oyj, A Shares | 98,448 | 4,811,899 |
Materials 0.1% | ||
Stora Enso Oyj, R Shares | 127,451 | 1,182,260 |
UPM-Kymmene Oyj | 120,969 | 2,264,657 |
3,446,917 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Orion Oyj, Class B | 23,550 | 841,146 |
Technology Hardware & Equipment 0.2% | ||
Nokia Oyj | 814,819 | 6,061,327 |
Telecommunication Services 0.1% | ||
Elisa Oyj | 31,961 | 1,204,171 |
Utilities 0.1% | ||
Fortum Oyj | 102,012 | 1,529,761 |
24,783,650 | ||
France 9.9% | ||
Automobiles & Components 0.4% | ||
Compagnie Generale des Etablissements Michelin | 41,908 | 4,168,831 |
Peugeot S.A. * | 93,891 | 1,649,617 |
Renault S.A. | 43,529 | 4,101,480 |
Valeo S.A. | 18,070 | 2,790,465 |
12,710,393 | ||
Banks 0.9% | ||
BNP Paribas S.A. | 236,121 | 14,308,271 |
Credit Agricole S.A. | 231,052 | 2,918,299 |
Natixis S.A. | 205,635 | 1,258,791 |
Societe Generale S.A. | 160,572 | 7,457,478 |
25,942,839 | ||
Capital Goods 1.5% | ||
Airbus Group SE | 132,163 | 9,203,203 |
Alstom S.A. * | 47,814 | 1,556,354 |
Bouygues S.A. | 44,213 | 1,671,119 |
Compagnie de Saint-Gobain | 105,554 | 4,418,601 |
Legrand S.A. | 58,610 | 3,212,063 |
Rexel S.A. | 65,307 | 891,297 |
Safran S.A. | 65,419 | 4,968,838 |
Schneider Electric SE | 124,321 | 7,498,438 |
Thales S.A. | 23,007 | 1,663,206 |
Vinci S.A. | 107,395 | 7,230,502 |
Zodiac Aerospace | 47,203 | 1,190,777 |
43,504,398 | ||
Commercial & Professional Supplies 0.1% | ||
Bureau Veritas S.A. | 59,466 | 1,343,092 |
Edenred | 49,244 | 904,163 |
Societe BIC S.A. | 6,847 | 1,091,122 |
3,338,377 | ||
Consumer Durables & Apparel 0.7% | ||
Christian Dior SE | 12,169 | 2,391,720 |
Hermes International | 5,927 | 2,279,806 |
Kering | 16,984 | 3,141,096 |
LVMH Moet Hennessy Louis Vuitton SE | 62,352 | 11,608,039 |
19,420,661 |
Security | Number of Shares | Value ($) |
Consumer Services 0.1% | ||
Accor S.A. | 47,592 | 2,363,394 |
Sodexo S.A. | 20,337 | 1,807,790 |
4,171,184 | ||
Diversified Financials 0.1% | ||
Eurazeo S.A. | 9,055 | 637,591 |
Wendel S.A. | 6,304 | 755,699 |
1,393,290 | ||
Energy 0.9% | ||
Technip S.A. | 21,650 | 1,128,176 |
Total S.A. | 481,485 | 23,284,046 |
24,412,222 | ||
Food & Staples Retailing 0.2% | ||
Carrefour S.A. | 121,075 | 3,945,346 |
Casino Guichard Perrachon S.A. | 11,366 | 653,031 |
4,598,377 | ||
Food, Beverage & Tobacco 0.5% | ||
Danone S.A. | 129,119 | 8,973,776 |
Pernod-Ricard S.A. | 46,805 | 5,507,510 |
Remy Cointreau S.A. | 5,148 | 357,610 |
14,838,896 | ||
Health Care Equipment & Services 0.2% | ||
Essilor International S.A. | 46,099 | 6,051,113 |
Household & Personal Products 0.4% | ||
L'Oreal S.A. | 56,104 | 10,228,017 |
Insurance 0.5% | ||
AXA S.A. | 437,672 | 11,680,640 |
CNP Assurances | 42,813 | 610,695 |
SCOR SE | 34,843 | 1,295,555 |
13,586,890 | ||
Materials 0.5% | ||
Air Liquide S.A. | 77,036 | 9,965,910 |
ArcelorMittal | 211,971 | 1,183,702 |
Arkema S.A. | 14,630 | 1,069,141 |
Imerys S.A. | 8,347 | 571,189 |
12,789,942 | ||
Media 0.5% | ||
Eutelsat Communications S.A. | 37,892 | 1,248,902 |
JC Decaux S.A. | 15,814 | 642,333 |
Lagardere S.C.A. | 27,000 | 785,576 |
Numericable-SFR SAS * | 22,318 | 1,008,462 |
Publicis Groupe S.A. | 41,855 | 2,711,168 |
SES S.A. | 69,593 | 2,053,366 |
Vivendi S.A. | 259,728 | 6,248,227 |
14,698,034 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.9% | ||
Sanofi | 262,431 | 26,472,942 |
Real Estate 0.4% | ||
Fonciere Des Regions | 6,593 | 620,569 |
Gecina S.A. | 7,883 | 1,005,433 |
ICADE | 7,471 | 552,089 |
Klepierre | 40,677 | 1,926,453 |
Unibail-Rodamco SE | 22,030 | 6,131,628 |
10,236,172 | ||
Semiconductors & Semiconductor Equipment 0.0% | ||
STMicroelectronics N.V. | 149,777 | 1,032,004 |
Security | Number of Shares | Value ($) |
Software & Services 0.2% | ||
Atos SE | 18,943 | 1,507,986 |
Cap Gemini S.A. | 35,281 | 3,137,046 |
Dassault Systemes S.A. | 29,185 | 2,302,348 |
6,947,380 | ||
Technology Hardware & Equipment 0.1% | ||
Alcatel-Lucent * | 627,090 | 2,545,569 |
Ingenico Group S.A. | 11,985 | 1,412,451 |
3,958,020 | ||
Telecommunication Services 0.3% | ||
Iliad S.A. | 5,532 | 1,161,806 |
Orange S.A. | 443,430 | 7,818,422 |
8,980,228 | ||
Transportation 0.1% | ||
Aeroports de Paris | 6,658 | 836,405 |
Bollore S.A. | 195,141 | 964,664 |
Groupe Eurotunnel SE - Reg'd | 101,963 | 1,427,298 |
3,228,367 | ||
Utilities 0.4% | ||
Electricite de France S.A. | 54,100 | 1,005,584 |
Engie (a) | 327,960 | 5,739,561 |
Suez Environnement Co. | 66,049 | 1,254,127 |
Veolia Environnement S.A. | 98,233 | 2,281,976 |
10,281,248 | ||
282,820,994 | ||
Germany 8.5% | ||
Automobiles & Components 1.2% | ||
Bayerische Motoren Werke AG | 73,685 | 7,547,433 |
Continental AG | 24,641 | 5,917,035 |
Daimler AG - Reg'd | 214,576 | 18,606,685 |
Volkswagen AG | 7,710 | 1,067,614 |
33,138,767 | ||
Banks 0.1% | ||
Commerzbank AG * | 230,492 | 2,534,888 |
Capital Goods 0.8% | ||
Brenntag AG | 35,268 | 2,129,598 |
GEA Group AG | 39,056 | 1,565,195 |
MAN SE | 8,274 | 862,170 |
OSRAM Licht AG | 19,208 | 1,128,743 |
Siemens AG - Reg'd | 176,926 | 17,771,179 |
23,456,885 | ||
Consumer Durables & Apparel 0.2% | ||
adidas AG | 45,951 | 4,118,058 |
Hugo Boss AG | 15,109 | 1,553,601 |
5,671,659 | ||
Diversified Financials 0.4% | ||
Deutsche Bank AG - Reg'd | 308,994 | 8,648,370 |
Deutsche Boerse AG | 42,480 | 3,916,842 |
12,565,212 | ||
Food & Staples Retailing 0.0% | ||
METRO AG | 39,043 | 1,201,185 |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 0.4% | ||
Fresenius Medical Care AG & Co. KGaA | 49,277 | 4,435,300 |
Fresenius SE & Co. KGaA | 85,680 | 6,295,972 |
10,731,272 | ||
Household & Personal Products 0.1% | ||
Beiersdorf AG | 22,967 | 2,181,311 |
Henkel AG & Co. KGaA | 23,238 | 2,144,933 |
4,326,244 | ||
Insurance 0.9% | ||
Allianz SE - Reg'd | 101,698 | 17,804,037 |
Hannover Rueck SE | 13,693 | 1,583,049 |
Muenchener Rueckversicherungs-Gesellschaft AG - Reg'd | 36,974 | 7,372,391 |
26,759,477 | ||
Materials 1.2% | ||
BASF SE | 205,226 | 16,812,899 |
Evonik Industries AG | 30,748 | 1,116,460 |
HeidelbergCement AG | 31,071 | 2,313,843 |
K&S AG - Reg'd | 42,301 | 1,067,817 |
LANXESS AG | 20,526 | 1,101,482 |
Linde AG | 41,020 | 7,115,142 |
Symrise AG | 27,662 | 1,820,619 |
ThyssenKrupp AG | 81,848 | 1,649,229 |
32,997,491 | ||
Media 0.2% | ||
Axel Springer SE | 9,201 | 517,094 |
Kabel Deutschland Holding AG | 4,715 | 599,784 |
ProSiebenSat.1 Media SE | 49,521 | 2,675,897 |
RTL Group S.A. | 8,951 | 774,303 |
4,567,078 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.0% | ||
Bayer AG - Reg'd | 184,438 | 24,592,116 |
Merck KGaA | 29,436 | 2,873,793 |
QIAGEN N.V. * | 50,348 | 1,220,616 |
28,686,525 | ||
Real Estate 0.2% | ||
Deutsche Wohnen AG | 73,219 | 2,063,982 |
Vonovia SE | 105,466 | 3,515,596 |
5,579,578 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
Infineon Technologies AG | 255,998 | 3,153,363 |
Software & Services 0.7% | ||
SAP SE | 219,158 | 17,277,334 |
United Internet AG - Reg'd | 27,639 | 1,435,096 |
18,712,430 | ||
Telecommunication Services 0.5% | ||
Deutsche Telekom AG - Reg'd | 708,212 | 13,265,934 |
Telefonica Deutschland Holding AG | 138,346 | 890,623 |
14,156,557 |
Security | Number of Shares | Value ($) |
Transportation 0.3% | ||
Deutsche Lufthansa AG - Reg'd * | 53,108 | 784,285 |
Deutsche Post AG - Reg'd | 216,552 | 6,432,972 |
Fraport AG Frankfurt Airport Services Worldwide | 9,632 | 610,695 |
7,827,952 | ||
Utilities 0.2% | ||
E.ON SE | 447,779 | 4,723,689 |
RWE AG | 106,308 | 1,477,390 |
6,201,079 | ||
242,267,642 | ||
Hong Kong 3.0% | ||
Banks 0.2% | ||
BOC Hong Kong (Holdings) Ltd. | 805,500 | 2,575,734 |
Hang Seng Bank Ltd. | 170,736 | 3,132,293 |
The Bank of East Asia Ltd. | 262,000 | 978,949 |
6,686,976 | ||
Capital Goods 0.3% | ||
CK Hutchison Holdings Ltd. | 608,025 | 8,325,986 |
NWS Holdings Ltd. | 321,000 | 482,449 |
8,808,435 | ||
Consumer Durables & Apparel 0.1% | ||
Li & Fung Ltd. | 1,378,000 | 1,117,093 |
Techtronic Industries Co., Ltd. | 295,500 | 1,080,252 |
Yue Yuen Industrial Holdings Ltd. | 160,500 | 585,513 |
2,782,858 | ||
Consumer Services 0.2% | ||
Galaxy Entertainment Group Ltd. | 521,000 | 1,779,672 |
MGM China Holdings Ltd. | 183,200 | 267,212 |
Sands China Ltd. | 547,200 | 1,970,441 |
Shangri-La Asia Ltd. | 258,000 | 236,113 |
SJM Holdings Ltd. | 398,000 | 330,409 |
Wynn Macau Ltd. (a) | 321,600 | 441,503 |
5,025,350 | ||
Diversified Financials 0.2% | ||
First Pacific Co., Ltd. | 493,250 | 337,521 |
Hong Kong Exchanges & Clearing Ltd. | 247,018 | 6,464,174 |
6,801,695 | ||
Food, Beverage & Tobacco 0.0% | ||
WH Group Ltd. * | 1,296,000 | 714,677 |
Insurance 0.6% | ||
AIA Group Ltd. | 2,700,400 | 15,833,335 |
Real Estate 0.8% | ||
Cheung Kong Property Holdings Ltd. | 600,025 | 4,198,458 |
Hang Lung Properties Ltd. | 468,000 | 1,145,112 |
Henderson Land Development Co., Ltd. | 262,438 | 1,676,126 |
Hysan Development Co., Ltd. | 156,000 | 691,942 |
Kerry Properties Ltd. | 166,500 | 492,864 |
Link REIT | 522,000 | 3,118,783 |
Security | Number of Shares | Value ($) |
New World Development Co., Ltd. | 1,126,666 | 1,201,709 |
Sino Land Co., Ltd. | 700,000 | 1,080,451 |
Sun Hung Kai Properties Ltd. | 383,604 | 5,124,105 |
Swire Pacific Ltd., Class A | 126,090 | 1,456,786 |
Swire Properties Ltd. | 277,600 | 833,259 |
The Wharf Holdings Ltd. | 298,100 | 1,773,825 |
Wheelock & Co., Ltd. | 214,000 | 997,478 |
23,790,898 | ||
Semiconductors & Semiconductor Equipment 0.0% | ||
ASM Pacific Technology Ltd. | 56,800 | 403,317 |
Telecommunication Services 0.1% | ||
HKT Trust & HKT Ltd. | 536,000 | 642,459 |
PCCW Ltd. | 976,000 | 525,518 |
1,167,977 | ||
Transportation 0.1% | ||
Cathay Pacific Airways Ltd. | 259,000 | 513,687 |
MTR Corp., Ltd. | 311,000 | 1,408,908 |
1,922,595 | ||
Utilities 0.4% | ||
Cheung Kong Infrastructure Holdings Ltd. | 136,000 | 1,261,668 |
CLP Holdings Ltd. | 432,080 | 3,756,295 |
Hong Kong & China Gas Co., Ltd. | 1,600,516 | 3,245,102 |
Power Assets Holdings Ltd. | 309,000 | 3,073,441 |
11,336,506 | ||
85,274,619 | ||
Ireland 0.4% | ||
Banks 0.1% | ||
Bank of Ireland * | 6,120,647 | 2,275,795 |
Food, Beverage & Tobacco 0.1% | ||
Kerry Group plc, Class A | 34,919 | 2,832,092 |
Materials 0.2% | ||
CRH plc | 183,938 | 5,034,534 |
James Hardie Industries plc CDI | 96,740 | 1,252,309 |
6,286,843 | ||
Transportation 0.0% | ||
Ryanair Holdings plc | 43,580 | 646,957 |
12,041,687 | ||
Israel 0.6% | ||
Banks 0.1% | ||
Bank Hapoalim B.M. | 234,191 | 1,219,050 |
Bank Leumi Le-Israel B.M. * | 308,155 | 1,169,257 |
Mizrahi Tefahot Bank Ltd. | 30,973 | 376,429 |
2,764,736 | ||
Energy 0.0% | ||
Delek Group Ltd. | 790 | 190,148 |
Materials 0.0% | ||
Israel Chemicals Ltd. | 111,577 | 618,667 |
The Israel Corp., Ltd. | 609 | 157,103 |
775,770 |
Security | Number of Shares | Value ($) |
Pharmaceuticals, Biotechnology & Life Sciences 0.4% | ||
Teva Pharmaceutical Industries Ltd. | 189,693 | 11,262,646 |
Real Estate 0.0% | ||
Azrieli Group | 8,005 | 313,722 |
Software & Services 0.0% | ||
NICE-Systems Ltd. | 13,354 | 825,366 |
Telecommunication Services 0.1% | ||
Bezeq The Israeli Telecommunication Corp., Ltd. | 407,063 | 872,330 |
17,004,718 | ||
Italy 2.4% | ||
Automobiles & Components 0.1% | ||
Fiat Chrysler Automobiles N.V. * | 203,098 | 2,992,270 |
Banks 0.7% | ||
Banca Monte dei Paschi di Siena S.p.A. * | 562,621 | 1,032,819 |
Banco Popolare SC * | 75,605 | 1,129,780 |
Intesa Sanpaolo S.p.A. | 2,823,494 | 9,823,091 |
UniCredit S.p.A. | 1,073,752 | 6,933,287 |
Unione di Banche Italiane S.p.A. | 204,609 | 1,530,832 |
20,449,809 | ||
Capital Goods 0.1% | ||
CNH Industrial N.V. | 202,319 | 1,369,553 |
Finmeccanica S.p.A. * | 92,749 | 1,212,481 |
Prysmian S.p.A. | 46,111 | 995,780 |
3,577,814 | ||
Consumer Durables & Apparel 0.1% | ||
Luxottica Group S.p.A. | 37,573 | 2,633,879 |
Diversified Financials 0.1% | ||
EXOR S.p.A. | 21,408 | 1,061,710 |
Mediobanca S.p.A. | 123,900 | 1,246,034 |
2,307,744 | ||
Energy 0.4% | ||
Eni S.p.A. | 568,859 | 9,289,608 |
Saipem S.p.A. *(a) | 62,014 | 582,607 |
Tenaris S.A. | 105,620 | 1,330,211 |
11,202,426 | ||
Insurance 0.2% | ||
Assicurazioni Generali S.p.A. | 259,516 | 4,916,935 |
UnipolSai S.p.A. | 249,290 | 601,022 |
5,517,957 | ||
Telecommunication Services 0.1% | ||
Telecom Italia S.p.A. * | 2,486,969 | 3,469,524 |
Transportation 0.1% | ||
Atlantia S.p.A. | 91,706 | 2,539,646 |
Utilities 0.5% | ||
Enel Green Power S.p.A. | 383,029 | 809,786 |
Enel S.p.A. | 1,558,541 | 7,186,957 |
Security | Number of Shares | Value ($) |
Snam S.p.A. | 480,891 | 2,488,609 |
Terna - Rete Elettrica Nationale S.p.A. | 333,535 | 1,696,461 |
12,181,813 | ||
66,872,882 | ||
Japan 22.6% | ||
Automobiles & Components 3.2% | ||
Aisin Seiki Co., Ltd. | 42,100 | 1,670,907 |
Bridgestone Corp. | 147,257 | 5,400,046 |
Daihatsu Motor Co., Ltd. | 39,700 | 486,313 |
Denso Corp. | 107,200 | 4,997,949 |
Fuji Heavy Industries Ltd. | 131,600 | 5,089,447 |
Honda Motor Co., Ltd. | 362,839 | 12,002,872 |
Isuzu Motors Ltd. | 131,900 | 1,540,528 |
Koito Manufacturing Co., Ltd. | 22,500 | 852,318 |
Mazda Motor Corp. | 122,000 | 2,394,770 |
Mitsubishi Motors Corp. | 146,600 | 1,298,482 |
NGK Spark Plug Co., Ltd. | 40,200 | 981,082 |
NHK Spring Co., Ltd. | 37,000 | 376,583 |
Nissan Motor Co., Ltd. | 561,396 | 5,819,554 |
NOK Corp. | 20,800 | 488,793 |
Stanley Electric Co., Ltd. | 33,100 | 632,229 |
Sumitomo Electric Industries Ltd. | 164,400 | 2,243,723 |
Sumitomo Rubber Industries Ltd. | 40,700 | 605,350 |
Suzuki Motor Corp. | 81,700 | 2,675,141 |
The Yokohama Rubber Co., Ltd. | 24,500 | 470,979 |
Toyoda Gosei Co., Ltd. | 11,300 | 259,019 |
Toyota Industries Corp. | 37,000 | 1,944,342 |
Toyota Motor Corp. | 608,803 | 37,297,969 |
Yamaha Motor Co., Ltd. | 57,100 | 1,280,322 |
90,808,718 | ||
Banks 2.1% | ||
Aozora Bank Ltd. | 253,000 | 924,729 |
Fukuoka Financial Group, Inc. | 180,000 | 947,187 |
Hokuhoku Financial Group, Inc. | 282,000 | 626,103 |
Kyushu Financial Group, Inc. * | 75,000 | 576,780 |
Mitsubishi UFJ Financial Group, Inc. | 2,836,309 | 18,343,913 |
Mizuho Financial Group, Inc. | 5,218,434 | 10,749,162 |
Resona Holdings, Inc. | 486,000 | 2,571,583 |
Seven Bank Ltd. | 149,400 | 680,749 |
Shinsei Bank Ltd. | 411,000 | 861,774 |
Sumitomo Mitsui Financial Group, Inc. | 283,546 | 11,311,683 |
Sumitomo Mitsui Trust Holdings, Inc. | 751,000 | 2,882,749 |
Suruga Bank Ltd. | 37,000 | 728,419 |
The Bank of Kyoto Ltd. | 77,000 | 777,662 |
The Bank of Yokohama Ltd. | 253,000 | 1,579,001 |
The Chiba Bank Ltd. | 148,000 | 1,079,664 |
The Chugoku Bank Ltd. | 32,500 | 460,730 |
The Gunma Bank Ltd. | 94,000 | 591,702 |
The Hachijuni Bank Ltd. | 95,000 | 647,781 |
The Hiroshima Bank Ltd. | 116,000 | 644,213 |
The Iyo Bank Ltd. | 57,500 | 618,251 |
Security | Number of Shares | Value ($) |
The Joyo Bank Ltd. | 125,000 | 649,265 |
The Shizuoka Bank Ltd. | 117,000 | 1,173,716 |
Yamaguchi Financial Group, Inc. | 50,000 | 614,979 |
60,041,795 | ||
Capital Goods 2.8% | ||
Amada Holdings Co., Ltd. | 71,000 | 633,205 |
Asahi Glass Co., Ltd. | 223,000 | 1,276,784 |
Daikin Industries Ltd. | 52,900 | 3,398,876 |
FANUC Corp. | 45,400 | 8,010,441 |
Fuji Electric Co., Ltd. | 140,000 | 624,618 |
Hino Motors Ltd. | 61,600 | 704,895 |
Hitachi Construction Machinery Co., Ltd. | 23,300 | 360,843 |
IHI Corp. | 305,000 | 860,532 |
ITOCHU Corp. | 348,500 | 4,360,773 |
JGC Corp. | 48,000 | 761,853 |
JTEKT Corp. | 44,300 | 763,592 |
Kajima Corp. | 194,000 | 1,110,161 |
Kawasaki Heavy Industries Ltd. | 315,000 | 1,264,343 |
Keihan Electric Railway Co., Ltd. | 115,000 | 815,505 |
Komatsu Ltd. | 205,709 | 3,381,339 |
Kubota Corp. | 248,000 | 3,844,360 |
Kurita Water Industries Ltd. | 25,000 | 564,520 |
LIXIL Group Corp. | 58,600 | 1,254,628 |
Mabuchi Motor Co., Ltd. | 11,300 | 559,117 |
Makita Corp. | 26,700 | 1,462,969 |
Marubeni Corp. | 368,100 | 2,126,892 |
Minebea Co., Ltd. | 70,000 | 770,966 |
Mitsubishi Corp. | 304,500 | 5,535,987 |
Mitsubishi Electric Corp. | 437,000 | 4,551,240 |
Mitsubishi Heavy Industries Ltd. | 686,000 | 3,458,447 |
Mitsui & Co., Ltd. | 383,800 | 4,867,701 |
Nabtesco Corp. | 28,000 | 560,698 |
NGK Insulators Ltd. | 57,000 | 1,234,041 |
Nidec Corp. | 48,800 | 3,677,375 |
NSK Ltd. | 104,000 | 1,230,005 |
Obayashi Corp. | 142,000 | 1,245,348 |
Seibu Holdings, Inc. | 27,000 | 546,447 |
Shimizu Corp. | 140,000 | 1,225,784 |
SMC Corp. | 11,900 | 3,061,180 |
Sumitomo Corp. | 246,700 | 2,698,227 |
Sumitomo Heavy Industries Ltd. | 123,000 | 554,239 |
Taisei Corp. | 233,000 | 1,514,153 |
THK Co., Ltd. | 25,700 | 484,127 |
Toshiba Corp. * | 922,178 | 2,601,517 |
TOTO Ltd. | 32,500 | 1,101,924 |
Toyota Tsusho Corp. | 49,200 | 1,126,781 |
80,186,433 | ||
Commercial & Professional Supplies 0.2% | ||
Dai Nippon Printing Co., Ltd. | 115,000 | 1,189,339 |
Park24 Co., Ltd. | 18,000 | 377,254 |
Recruit Holdings Co., Ltd. | 33,000 | 1,060,672 |
Secom Co., Ltd. | 46,000 | 3,068,432 |
Toppan Printing Co., Ltd. | 112,000 | 1,004,356 |
6,700,053 |
Security | Number of Shares | Value ($) |
Consumer Durables & Apparel 1.0% | ||
Asics Corp. | 36,800 | 1,016,441 |
Bandai Namco Holdings, Inc. | 41,500 | 1,020,080 |
Casio Computer Co., Ltd. | 48,900 | 921,245 |
Iida Group Holdings Co., Ltd. | 30,100 | 564,160 |
Nikon Corp. | 81,700 | 1,056,909 |
Panasonic Corp. | 495,812 | 5,817,233 |
Rinnai Corp. | 8,500 | 673,846 |
Sankyo Co., Ltd. | 10,600 | 408,521 |
Sega Sammy Holdings, Inc. | 36,600 | 385,428 |
Sekisui Chemical Co., Ltd. | 97,000 | 1,144,503 |
Sekisui House Ltd. | 138,200 | 2,300,535 |
Sharp Corp. *(a) | 310,785 | 340,645 |
Shimano, Inc. | 18,000 | 2,836,232 |
Sony Corp. | 278,400 | 7,913,632 |
Yamaha Corp. | 34,900 | 866,175 |
27,265,585 | ||
Consumer Services 0.1% | ||
Benesse Holdings, Inc. | 14,200 | 380,692 |
McDonald's Holdings Co., Ltd. (a) | 15,000 | 354,769 |
Oriental Land Co., Ltd. | 45,000 | 2,733,604 |
3,469,065 | ||
Diversified Financials 0.6% | ||
Acom Co., Ltd. * | 88,800 | 486,161 |
AEON Financial Service Co., Ltd. | 24,800 | 619,642 |
Credit Saison Co., Ltd. | 34,000 | 698,005 |
Daiwa Securities Group, Inc. | 381,000 | 2,605,114 |
Japan Exchange Group, Inc. | 121,200 | 1,950,223 |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 97,400 | 511,229 |
Nomura Holdings, Inc. | 810,200 | 5,096,436 |
ORIX Corp. | 298,600 | 4,360,685 |
SBI Holdings, Inc. | 48,290 | 546,561 |
16,874,056 | ||
Energy 0.2% | ||
Idemitsu Kosan Co., Ltd. | 20,100 | 329,629 |
Inpex Corp. | 206,800 | 1,971,217 |
JX Holdings, Inc. | 492,800 | 1,935,057 |
Showa Shell Sekiyu K.K. | 49,300 | 435,144 |
TonenGeneral Sekiyu K.K. | 61,000 | 633,770 |
5,304,817 | ||
Food & Staples Retailing 0.4% | ||
Aeon Co., Ltd. | 141,700 | 2,099,462 |
FamilyMart Co., Ltd. | 14,000 | 572,275 |
Lawson, Inc. | 14,900 | 1,103,684 |
Seven & i Holdings Co., Ltd. | 168,603 | 7,658,759 |
11,434,180 | ||
Food, Beverage & Tobacco 0.9% | ||
Ajinomoto Co., Inc. | 125,000 | 2,784,248 |
Asahi Group Holdings Ltd. | 84,700 | 2,612,672 |
Calbee, Inc. | 16,700 | 605,071 |
Japan Tobacco, Inc. | 246,400 | 8,528,345 |
Kikkoman Corp. | 35,000 | 1,096,247 |
Kirin Holdings Co., Ltd. | 179,500 | 2,542,315 |
MEIJI Holdings Co., Ltd. | 27,200 | 2,143,353 |
NH Foods Ltd. | 39,000 | 813,482 |
Nisshin Seifun Group, Inc. | 49,400 | 755,051 |
Security | Number of Shares | Value ($) |
Nissin Foods Holdings Co., Ltd. | 15,200 | 702,667 |
Suntory Beverage & Food Ltd. | 30,400 | 1,229,305 |
Toyo Suisan Kaisha Ltd. | 18,800 | 692,738 |
Yakult Honsha Co., Ltd. | 19,700 | 1,042,949 |
Yamazaki Baking Co., Ltd. | 26,000 | 500,723 |
26,049,166 | ||
Health Care Equipment & Services 0.5% | ||
Alfresa Holdings Corp. | 43,000 | 824,542 |
Hoya Corp. | 94,707 | 3,908,251 |
M3, Inc. | 43,700 | 846,999 |
Medipal Holdings Corp. | 34,800 | 607,332 |
Miraca Holdings, Inc. | 11,800 | 525,162 |
Olympus Corp. | 59,900 | 2,020,506 |
Suzuken Co., Ltd. | 15,900 | 608,555 |
Sysmex Corp. | 32,500 | 1,857,661 |
Terumo Corp. | 66,500 | 1,973,057 |
13,172,065 | ||
Household & Personal Products 0.4% | ||
Kao Corp. | 111,619 | 5,730,443 |
Kose Corp. | 6,500 | 634,787 |
Shiseido Co., Ltd. | 78,500 | 1,864,694 |
Unicharm Corp. | 87,200 | 1,862,267 |
10,092,191 | ||
Insurance 0.6% | ||
MS&AD Insurance Group Holdings, Inc. | 113,962 | 3,359,668 |
Sompo Japan Nipponkoa Holdings, Inc. | 75,700 | 2,376,848 |
Sony Financial Holdings, Inc. | 40,600 | 727,656 |
T&D Holdings, Inc. | 128,200 | 1,684,640 |
The Dai-ichi Life Insurance Co., Ltd. | 238,700 | 4,129,340 |
Tokio Marine Holdings, Inc. | 151,999 | 5,856,776 |
18,134,928 | ||
Materials 1.2% | ||
Air Water, Inc. | 34,000 | 556,333 |
Asahi Kasei Corp. | 291,000 | 1,785,759 |
Daicel Corp. | 62,500 | 825,899 |
Hitachi Chemical Co., Ltd. | 22,600 | 357,252 |
Hitachi Metals Ltd. | 46,000 | 520,989 |
JFE Holdings, Inc. | 113,800 | 1,788,995 |
JSR Corp. | 40,400 | 638,049 |
Kaneka Corp. | 58,000 | 514,300 |
Kansai Paint Co., Ltd. | 56,000 | 853,652 |
Kobe Steel Ltd. | 687,000 | 867,524 |
Kuraray Co., Ltd. | 76,700 | 946,008 |
Maruichi Steel Tube Ltd. | 8,800 | 225,353 |
Mitsubishi Chemical Holdings Corp. | 301,100 | 1,876,321 |
Mitsubishi Gas Chemical Co., Inc. | 85,000 | 473,908 |
Mitsubishi Materials Corp. | 272,000 | 948,826 |
Mitsui Chemicals, Inc. | 180,000 | 680,607 |
Nippon Paint Holdings Co., Ltd. | 30,200 | 637,885 |
Nippon Steel & Sumitomo Metal Corp. | 172,641 | 3,499,872 |
Nitto Denko Corp. | 37,800 | 2,423,902 |
Oji Holdings Corp. | 173,000 | 895,967 |
Security | Number of Shares | Value ($) |
Shin-Etsu Chemical Co., Ltd. | 91,460 | 5,439,049 |
Sumitomo Chemical Co., Ltd. | 322,000 | 1,844,481 |
Sumitomo Metal Mining Co., Ltd. | 106,000 | 1,315,079 |
Taiheiyo Cement Corp. | 281,000 | 926,379 |
Taiyo Nippon Sanso Corp. | 29,000 | 298,920 |
Teijin Ltd. | 201,000 | 709,540 |
Toray Industries, Inc. | 336,000 | 2,931,332 |
Toyo Seikan Group Holdings Ltd. | 33,400 | 645,397 |
35,427,578 | ||
Media 0.1% | ||
Dentsu, Inc. | 47,400 | 2,664,740 |
Hakuhodo DY Holdings, Inc. | 53,300 | 560,014 |
Toho Co., Ltd. | 23,800 | 619,352 |
3,844,106 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.3% | ||
Astellas Pharma, Inc. | 467,650 | 6,787,690 |
Chugai Pharmaceutical Co., Ltd. | 49,200 | 1,583,743 |
Daiichi Sankyo Co., Ltd. | 140,700 | 2,763,212 |
Eisai Co., Ltd. | 55,900 | 3,496,522 |
Hisamitsu Pharmaceutical Co., Inc. | 14,600 | 565,895 |
Kyowa Hakko Kirin Co., Ltd. | 53,000 | 873,600 |
Mitsubishi Tanabe Pharma Corp. | 51,200 | 865,753 |
Ono Pharmaceutical Co., Ltd. | 18,300 | 2,507,003 |
Otsuka Holdings Co., Ltd. | 86,900 | 2,892,067 |
Santen Pharmaceutical Co., Ltd. | 82,400 | 1,118,372 |
Shionogi & Co., Ltd. | 65,400 | 2,682,479 |
Sumitomo Dainippon Pharma Co., Ltd. | 41,500 | 459,324 |
Taisho Pharmaceutical Holdings Co., Ltd. | 6,500 | 405,566 |
Takeda Pharmaceutical Co., Ltd. | 174,800 | 8,535,877 |
35,537,103 | ||
Real Estate 1.1% | ||
Aeon Mall Co., Ltd. | 27,400 | 458,339 |
Daito Trust Construction Co., Ltd. | 16,000 | 1,731,941 |
Daiwa House Industry Co., Ltd. | 136,500 | 3,583,165 |
Hulic Co., Ltd. | 66,400 | 620,171 |
Japan Prime Realty Investment Corp. | 196 | 638,015 |
Japan Real Estate Investment Corp. | 279 | 1,289,672 |
Japan Retail Fund Investment Corp. | 554 | 1,072,971 |
Mitsubishi Estate Co., Ltd. | 277,502 | 5,951,438 |
Mitsui Fudosan Co., Ltd. | 208,777 | 5,681,584 |
Nippon Building Fund, Inc. | 316 | 1,500,771 |
Nippon Prologis REIT, Inc. | 330 | 580,331 |
Nomura Real Estate Holdings, Inc. | 31,300 | 668,848 |
Nomura Real Estate Master Fund, Inc. * | 760 | 962,990 |
Security | Number of Shares | Value ($) |
NTT Urban Development Corp. | 22,700 | 224,936 |
Sumitomo Realty & Development Co., Ltd. | 81,000 | 2,667,197 |
Tokyo Tatemono Co., Ltd. | 48,500 | 602,629 |
Tokyu Fudosan Holdings Corp. | 110,200 | 774,612 |
United Urban Investment Corp. | 576 | 799,143 |
29,808,753 | ||
Retailing 0.6% | ||
ABC-Mart, Inc. | 5,980 | 333,547 |
Don Quijote Holdings Co., Ltd. | 28,100 | 1,032,230 |
Fast Retailing Co., Ltd. | 11,900 | 4,346,859 |
Hikari Tsushin, Inc. | 5,100 | 388,104 |
Isetan Mitsukoshi Holdings Ltd. | 78,000 | 1,251,261 |
J. Front Retailing Co., Ltd. | 50,900 | 835,894 |
Marui Group Co., Ltd. | 52,300 | 675,547 |
Nitori Holdings Co., Ltd. | 16,200 | 1,263,258 |
Rakuten, Inc. | 209,920 | 2,908,062 |
Ryohin Keikaku Co., Ltd. | 5,100 | 1,024,064 |
Sanrio Co., Ltd. (a) | 10,800 | 286,915 |
Shimamura Co., Ltd. | 5,400 | 606,480 |
Takashimaya Co., Ltd. | 60,000 | 536,352 |
USS Co., Ltd. | 51,600 | 910,940 |
Yamada Denki Co., Ltd. | 140,700 | 632,959 |
17,032,472 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
Rohm Co., Ltd. | 21,500 | 1,062,778 |
Tokyo Electron Ltd. | 39,400 | 2,363,168 |
3,425,946 | ||
Software & Services 0.5% | ||
COLOPL, Inc. (a) | 9,400 | 153,560 |
Fujitsu Ltd. | 404,000 | 1,909,553 |
GungHo Online Entertainment, Inc. (a) | 80,100 | 260,871 |
Itochu Techno-Solutions Corp. | 9,012 | 197,570 |
Kakaku.com, Inc. | 31,300 | 583,909 |
Konami Holdings Corp. | 19,400 | 440,802 |
Mixi, Inc. | 10,100 | 385,686 |
Nexon Co., Ltd. | 28,900 | 400,872 |
Nintendo Co., Ltd. | 23,439 | 3,747,113 |
Nomura Research Institute Ltd. | 29,400 | 1,201,591 |
NTT Data Corp. | 28,300 | 1,408,347 |
Oracle Corp., Japan | 9,600 | 436,616 |
Otsuka Corp. | 10,700 | 517,236 |
Trend Micro, Inc. | 24,700 | 962,595 |
Yahoo Japan Corp. | 317,400 | 1,346,132 |
13,952,453 | ||
Technology Hardware & Equipment 1.7% | ||
Alps Electric Co., Ltd. | 37,100 | 1,151,554 |
Brother Industries Ltd. | 54,100 | 691,476 |
Canon, Inc. | 238,695 | 7,127,924 |
Citizen Holdings Co., Ltd. | 68,300 | 517,679 |
FUJIFILM Holdings Corp. | 102,011 | 4,069,089 |
Hamamatsu Photonics K.K. | 32,100 | 817,132 |
Hirose Electric Co., Ltd. | 7,085 | 857,539 |
Security | Number of Shares | Value ($) |
Hitachi High-Technologies Corp. | 15,900 | 427,600 |
Hitachi Ltd. | 1,067,079 | 6,155,754 |
Ibiden Co., Ltd. | 22,300 | 307,274 |
Keyence Corp. | 10,100 | 5,258,144 |
Konica Minolta, Inc. | 106,500 | 1,094,225 |
Kyocera Corp. | 70,600 | 3,193,566 |
Murata Manufacturing Co., Ltd. | 45,274 | 6,444,818 |
NEC Corp. | 564,000 | 1,739,930 |
Nippon Electric Glass Co., Ltd. | 88,000 | 430,616 |
Omron Corp. | 42,500 | 1,407,296 |
Ricoh Co., Ltd. | 157,600 | 1,698,596 |
Seiko Epson Corp. | 60,700 | 927,202 |
Shimadzu Corp. | 58,000 | 899,724 |
TDK Corp. | 27,400 | 1,745,282 |
Yaskawa Electric Corp. | 53,900 | 639,356 |
Yokogawa Electric Corp. | 51,000 | 569,685 |
48,171,461 | ||
Telecommunication Services 1.2% | ||
KDDI Corp. | 392,000 | 9,485,738 |
Nippon Telegraph & Telephone Corp. | 165,756 | 6,076,842 |
NTT DOCOMO, Inc. | 323,000 | 6,290,582 |
SoftBank Group Corp. | 214,200 | 12,001,178 |
33,854,340 | ||
Transportation 1.2% | ||
ANA Holdings, Inc. | 246,000 | 734,604 |
Central Japan Railway Co. | 32,100 | 5,855,466 |
East Japan Railway Co. | 74,360 | 7,069,818 |
Hankyu Hanshin Holdings, Inc. | 251,000 | 1,635,045 |
Japan Airlines Co., Ltd. | 27,200 | 1,024,709 |
Japan Airport Terminal Co., Ltd. | 9,200 | 497,572 |
Kamigumi Co., Ltd. | 51,000 | 438,174 |
Keikyu Corp. | 111,000 | 913,070 |
Keio Corp. | 132,000 | 1,074,319 |
Keisei Electric Railway Co., Ltd. | 62,000 | 764,016 |
Kintetsu Group Holdings Co., Ltd. | 407,000 | 1,573,496 |
Mitsubishi Logistics Corp. | 25,000 | 358,798 |
Mitsui O.S.K. Lines Ltd. | 273,000 | 729,023 |
Nagoya Railroad Co., Ltd. | 194,000 | 801,762 |
Nippon Express Co., Ltd. | 184,000 | 947,911 |
Nippon Yusen K.K. | 383,000 | 1,002,087 |
Odakyu Electric Railway Co., Ltd. | 140,000 | 1,368,461 |
Tobu Railway Co., Ltd. | 222,000 | 1,073,749 |
Tokyu Corp. | 247,000 | 2,002,860 |
West Japan Railway Co. | 36,200 | 2,543,294 |
Yamato Holdings Co., Ltd. | 76,700 | 1,509,785 |
33,918,019 | ||
Utilities 0.6% | ||
Chubu Electric Power Co., Inc. | 140,100 | 2,155,157 |
Electric Power Development Co., Ltd. | 33,800 | 1,114,248 |
Hokuriku Electric Power Co. | 40,300 | 601,109 |
Kyushu Electric Power Co., Inc. * | 91,000 | 1,098,254 |
Security | Number of Shares | Value ($) |
Osaka Gas Co., Ltd. | 432,000 | 1,701,418 |
Shikoku Electric Power Co., Inc. | 42,400 | 719,829 |
The Chugoku Electric Power Co., Inc. | 70,100 | 1,059,316 |
The Kansai Electric Power Co., Inc. * | 151,700 | 1,943,690 |
Toho Gas Co., Ltd. | 89,000 | 545,068 |
Tohoku Electric Power Co., Inc. | 101,200 | 1,420,892 |
Tokyo Electric Power Co., Inc. * | 320,990 | 2,189,609 |
Tokyo Gas Co., Ltd. | 509,201 | 2,519,964 |
17,068,554 | ||
641,573,837 | ||
Netherlands 2.8% | ||
Banks 0.4% | ||
ING Groep N.V. CVA | 863,791 | 12,571,503 |
Capital Goods 0.2% | ||
Boskalis Westminster N.V. | 18,315 | 888,912 |
Koninklijke Philips N.V. | 206,708 | 5,572,587 |
6,461,499 | ||
Commercial & Professional Supplies 0.1% | ||
Randstad Holding N.V. | 29,661 | 1,768,872 |
Energy 0.0% | ||
Koninklijke Vopak N.V. | 16,676 | 669,883 |
Food & Staples Retailing 0.2% | ||
Koninklijke Ahold N.V. | 200,625 | 4,081,265 |
Food, Beverage & Tobacco 0.2% | ||
Heineken Holding N.V. | 22,615 | 1,806,778 |
Heineken N.V. | 50,465 | 4,596,496 |
6,403,274 | ||
Household & Personal Products 0.6% | ||
Unilever N.V. CVA | 363,881 | 16,453,833 |
Insurance 0.2% | ||
Aegon N.V. | 411,208 | 2,523,364 |
Delta Lloyd N.V. | 45,606 | 359,377 |
NN Group N.V. | 53,211 | 1,667,250 |
4,549,991 | ||
Materials 0.2% | ||
Akzo Nobel N.V. | 53,914 | 3,813,357 |
Koninklijke DSM N.V. | 39,390 | 2,099,784 |
OCI N.V. * | 16,510 | 465,767 |
6,378,908 | ||
Media 0.3% | ||
Altice N.V., Class A * | 82,251 | 1,424,546 |
Altice N.V., Class B * | 24,908 | 442,350 |
RELX N.V. | 230,378 | 3,929,506 |
Wolters Kluwer N.V. | 65,547 | 2,215,311 |
8,011,713 | ||
Semiconductors & Semiconductor Equipment 0.3% | ||
ASML Holding N.V. | 77,770 | 7,214,044 |
Software & Services 0.0% | ||
Gemalto N.V. | 17,841 | 1,117,014 |
Telecommunication Services 0.1% | ||
Koninklijke (Royal) KPN N.V. | 707,646 | 2,592,957 |
Security | Number of Shares | Value ($) |
Transportation 0.0% | ||
TNT Express N.V. | 109,123 | 916,963 |
79,191,719 | ||
New Zealand 0.1% | ||
Health Care Equipment & Services 0.0% | ||
Ryman Healthcare Ltd. | 72,734 | 388,075 |
Materials 0.0% | ||
Fletcher Building Ltd. | 141,562 | 712,998 |
Telecommunication Services 0.0% | ||
Spark New Zealand Ltd. | 420,111 | 952,905 |
Transportation 0.0% | ||
Auckland International Airport Ltd. | 203,237 | 722,227 |
Utilities 0.1% | ||
Contact Energy Ltd. | 165,447 | 580,711 |
Meridian Energy Ltd. | 316,280 | 475,246 |
Mighty River Power Ltd. | 127,463 | 241,414 |
1,297,371 | ||
4,073,576 | ||
Norway 0.6% | ||
Banks 0.1% | ||
DNB A.S.A. | 217,398 | 2,767,900 |
Energy 0.2% | ||
Seadrill Ltd. *(a) | 78,629 | 505,631 |
Statoil A.S.A. | 245,585 | 3,969,700 |
Subsea 7 S.A. * | 64,866 | 508,763 |
4,984,094 | ||
Food, Beverage & Tobacco 0.1% | ||
Orkla A.S.A. | 181,529 | 1,544,824 |
Insurance 0.0% | ||
Gjensidige Forsikring A.S.A. | 42,041 | 640,076 |
Materials 0.1% | ||
Norsk Hydro A.S.A. | 292,622 | 1,048,108 |
Yara International A.S.A. | 41,350 | 1,878,364 |
2,926,472 | ||
Telecommunication Services 0.1% | ||
Telenor A.S.A. | 171,711 | 3,234,718 |
16,098,084 | ||
Portugal 0.1% | ||
Banks 0.0% | ||
Banco Comercial Portugues S.A., Class R * | 8,699,500 | 498,678 |
Banco Espirito Santo S.A. - Reg'd *(b)(d) | 470,491 | — |
498,678 | ||
Energy 0.0% | ||
Galp Energia, SGPS, S.A. | 78,082 | 842,892 |
Food & Staples Retailing 0.0% | ||
Jeronimo Martins, SGPS, S.A. | 59,857 | 840,196 |
Security | Number of Shares | Value ($) |
Utilities 0.1% | ||
EDP - Energias de Portugal S.A. | 522,434 | 1,930,643 |
4,112,409 | ||
Singapore 1.3% | ||
Banks 0.5% | ||
DBS Group Holdings Ltd. | 395,146 | 4,858,339 |
Oversea-Chinese Banking Corp., Ltd. | 660,071 | 4,242,839 |
United Overseas Bank Ltd. | 285,533 | 4,146,161 |
13,247,339 | ||
Capital Goods 0.2% | ||
Keppel Corp., Ltd. | 313,000 | 1,575,548 |
Noble Group Ltd. (a) | 1,093,900 | 392,753 |
Sembcorp Industries Ltd. | 200,000 | 509,631 |
Sembcorp Marine Ltd. (a) | 152,000 | 252,930 |
Singapore Technologies Engineering Ltd. | 375,200 | 884,338 |
Yangzijiang Shipbuilding Holdings Ltd. | 431,000 | 383,653 |
3,998,853 | ||
Consumer Services 0.0% | ||
Genting Singapore plc | 1,293,300 | 749,171 |
Diversified Financials 0.0% | ||
Singapore Exchange Ltd. | 186,900 | 983,352 |
Food, Beverage & Tobacco 0.1% | ||
Golden Agri-Resources Ltd. | 1,652,500 | 458,606 |
Wilmar International Ltd. | 456,200 | 1,016,581 |
1,475,187 | ||
Media 0.0% | ||
Singapore Press Holdings Ltd. | 350,600 | 997,105 |
Real Estate 0.2% | ||
Ascendas Real Estate Investment Trust | 456,400 | 777,034 |
CapitaLand Commercial Trust Ltd. | 452,900 | 454,495 |
CapitaLand Ltd. | 585,800 | 1,292,223 |
CapitaLand Mall Trust | 542,800 | 765,301 |
City Developments Ltd. | 87,300 | 494,058 |
Global Logistic Properties Ltd. | 709,500 | 1,134,776 |
Suntec Real Estate Investment Trust | 570,100 | 669,634 |
UOL Group Ltd. | 95,000 | 443,342 |
6,030,863 | ||
Retailing 0.0% | ||
Jardine Cycle & Carriage Ltd. | 28,000 | 648,278 |
Telecommunication Services 0.2% | ||
Singapore Telecommunications Ltd. | 1,791,437 | 5,089,924 |
StarHub Ltd. | 129,000 | 330,926 |
5,420,850 |
Security | Number of Shares | Value ($) |
Transportation 0.1% | ||
ComfortDelGro Corp., Ltd. | 471,800 | 1,020,791 |
Hutchison Port Holdings Trust, Class U | 1,227,600 | 679,914 |
Singapore Airlines Ltd. | 128,400 | 987,812 |
2,688,517 | ||
36,239,515 | ||
Spain 3.4% | ||
Banks 1.3% | ||
Banco Bilbao Vizcaya Argentaria S.A. | 1,420,594 | 12,222,237 |
Banco de Sabadell S.A. | 1,115,231 | 2,151,617 |
Banco Popular Espanol S.A. | 380,024 | 1,444,886 |
Banco Santander S.A. | 3,197,315 | 17,860,836 |
Bankia S.A. | 1,025,002 | 1,317,235 |
Bankinter S.A. | 147,447 | 1,066,360 |
CaixaBank S.A. | 597,217 | 2,287,434 |
38,350,605 | ||
Capital Goods 0.2% | ||
ACS, Actividades de Construccion y Servicios S.A. | 43,240 | 1,467,064 |
Ferrovial S.A. | 98,466 | 2,484,043 |
Zardoya Otis S.A. | 43,251 | 531,813 |
4,482,920 | ||
Energy 0.1% | ||
Repsol S.A. | 237,439 | 2,988,972 |
Food & Staples Retailing 0.0% | ||
Distribuidora Internacional de Alimentacion S.A. * | 135,669 | 861,985 |
Insurance 0.0% | ||
Mapfre S.A. | 244,029 | 723,976 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Grifols S.A. | 34,764 | 1,610,094 |
Retailing 0.3% | ||
Industria de Diseno Textil S.A. | 243,317 | 9,110,848 |
Software & Services 0.2% | ||
Amadeus IT Holding S.A., A Shares | 99,967 | 4,252,252 |
Telecommunication Services 0.5% | ||
Telefonica S.A. | 992,492 | 13,094,284 |
Transportation 0.2% | ||
Abertis Infraestructuras S.A. | 107,353 | 1,782,711 |
Aena S.A. * | 14,531 | 1,621,744 |
International Consolidated Airlines Group S.A. * | 176,416 | 1,577,335 |
4,981,790 | ||
Utilities 0.5% | ||
Enagas S.A. | 48,488 | 1,466,193 |
Endesa S.A. | 69,660 | 1,548,903 |
Gas Natural SDG S.A. | 75,382 | 1,630,650 |
Iberdrola S.A. | 1,212,801 | 8,648,652 |
Red Electrica Corp. S.A. | 24,590 | 2,164,778 |
15,459,176 | ||
95,916,902 |
Security | Number of Shares | Value ($) |
Sweden 2.8% | ||
Banks 0.7% | ||
Nordea Bank AB | 682,989 | 7,535,850 |
Skandinaviska Enskilda Banken AB, A Shares | 344,230 | 3,614,715 |
Svenska Handelsbanken AB, A Shares | 330,341 | 4,486,516 |
Swedbank AB, A Shares | 201,167 | 4,609,414 |
20,246,495 | ||
Capital Goods 0.7% | ||
Alfa Laval AB | 63,558 | 1,115,050 |
Assa Abloy AB, Class B | 223,813 | 4,452,329 |
Atlas Copco AB, A Shares | 151,357 | 3,944,467 |
Atlas Copco AB, B Shares | 87,494 | 2,115,152 |
Sandvik AB | 243,305 | 2,269,236 |
Skanska AB, B Shares | 80,665 | 1,574,015 |
SKF AB, B Shares | 85,821 | 1,508,055 |
Volvo AB, B Shares | 335,693 | 3,472,116 |
20,450,420 | ||
Commercial & Professional Supplies 0.0% | ||
Securitas AB, B Shares | 64,419 | 841,035 |
Consumer Durables & Apparel 0.1% | ||
Electrolux AB, B Shares | 51,441 | 1,513,413 |
Husqvarna AB, B Shares (a) | 94,980 | 625,279 |
2,138,692 | ||
Diversified Financials 0.2% | ||
Industrivarden AB, C Shares | 41,251 | 748,745 |
Investment AB Kinnevik, B Shares | 50,660 | 1,614,422 |
Investor AB, B Shares | 103,027 | 3,812,834 |
6,176,001 | ||
Energy 0.0% | ||
Lundin Petroleum AB * | 49,912 | 722,475 |
Food & Staples Retailing 0.0% | ||
ICA Gruppen AB (a) | 19,005 | 677,986 |
Food, Beverage & Tobacco 0.1% | ||
Swedish Match AB | 45,711 | 1,436,958 |
Health Care Equipment & Services 0.0% | ||
Getinge AB, B Shares | 41,359 | 1,033,629 |
Household & Personal Products 0.1% | ||
Svenska Cellulosa AB, S.C.A., B Shares | 130,925 | 3,856,260 |
Materials 0.1% | ||
Boliden AB | 59,204 | 1,133,541 |
Retailing 0.3% | ||
Hennes & Mauritz AB, B Shares | 212,752 | 8,270,279 |
Technology Hardware & Equipment 0.3% | ||
Hexagon AB, B Shares | 58,904 | 2,043,109 |
Telefonaktiebolaget LM Ericsson, B Shares | 670,287 | 6,523,570 |
8,566,679 |
Security | Number of Shares | Value ($) |
Telecommunication Services 0.2% | ||
Millicom International Cellular S.A. SDR | 14,921 | 831,794 |
Tele2 AB, B Shares | 74,695 | 745,949 |
TeliaSonera AB | 579,294 | 2,959,914 |
4,537,657 | ||
80,088,107 | ||
Switzerland 9.2% | ||
Capital Goods 0.5% | ||
ABB Ltd. - Reg'd * | 492,158 | 9,284,903 |
Geberit AG - Reg'd | 8,562 | 2,763,123 |
Schindler Holding AG | 9,794 | 1,589,009 |
Schindler Holding AG - Reg'd | 4,537 | 738,453 |
Sulzer AG - Reg'd | 5,762 | 582,225 |
14,957,713 | ||
Commercial & Professional Supplies 0.2% | ||
Adecco S.A. - Reg'd * | 38,296 | 2,846,744 |
SGS S.A. - Reg'd | 1,217 | 2,317,293 |
5,164,037 | ||
Consumer Durables & Apparel 0.5% | ||
Cie Financiere Richemont S.A. - Reg'd | 116,595 | 9,997,737 |
The Swatch Group AG - Bearer Shares | 6,891 | 2,691,207 |
The Swatch Group AG - Reg'd | 11,639 | 840,821 |
13,529,765 | ||
Diversified Financials 1.0% | ||
Credit Suisse Group AG - Reg'd * | 348,239 | 8,685,505 |
Julius Baer Group Ltd. * | 49,527 | 2,455,673 |
Pargesa Holding S.A. | 5,743 | 364,205 |
Partners Group Holding AG | 3,761 | 1,360,900 |
UBS Group AG - Reg’d | 815,237 | 16,282,261 |
29,148,544 | ||
Energy 0.0% | ||
Transocean Ltd. (a) | 84,166 | 1,288,363 |
Food, Beverage & Tobacco 2.1% | ||
Aryzta AG * | 19,166 | 863,045 |
Barry Callebaut AG - Reg'd * | 534 | 639,914 |
Chocoladefabriken Lindt & Sprungli AG | 209 | 1,275,564 |
Chocoladefabriken Lindt & Sprungli AG - Reg'd | 23 | 1,706,461 |
Nestle S.A. - Reg'd | 719,332 | 54,938,215 |
59,423,199 | ||
Health Care Equipment & Services 0.1% | ||
Sonova Holding AG - Reg'd | 11,733 | 1,600,901 |
Insurance 0.7% | ||
Baloise Holding AG - Reg'd | 11,516 | 1,380,732 |
Swiss Life Holding AG - Reg'd * | 7,056 | 1,681,373 |
Swiss Re AG | 78,074 | 7,247,669 |
Zurich Insurance Group AG * | 33,608 | 8,869,148 |
19,178,922 |
Security | Number of Shares | Value ($) |
Materials 0.6% | ||
EMS-Chemie Holding AG - Reg'd | 1,753 | 741,826 |
Givaudan S.A. - Reg'd * | 2,092 | 3,740,915 |
LafargeHolcim Ltd. * | 96,595 | 5,439,723 |
Sika AG | 468 | 1,534,831 |
Syngenta AG - Reg'd | 20,758 | 6,974,071 |
18,431,366 | ||
Pharmaceuticals, Biotechnology & Life Sciences 3.3% | ||
Actelion Ltd. - Reg'd * | 22,570 | 3,133,034 |
Lonza Group AG - Reg'd * | 12,026 | 1,765,173 |
Novartis AG - Reg'd | 507,583 | 45,981,260 |
Roche Holding AG | 156,706 | 42,545,501 |
93,424,968 | ||
Real Estate 0.0% | ||
Swiss Prime Site AG - Reg'd * | 14,809 | 1,131,452 |
Retailing 0.0% | ||
Dufry AG - Reg'd * | 9,260 | 1,081,802 |
Telecommunication Services 0.1% | ||
Swisscom AG - Reg'd | 5,609 | 2,889,840 |
Transportation 0.1% | ||
Kuehne & Nagel International AG - Reg'd | 12,033 | 1,667,262 |
262,918,134 | ||
United Kingdom 19.8% | ||
Automobiles & Components 0.1% | ||
GKN plc | 358,453 | 1,583,871 |
Banks 2.5% | ||
Barclays plc | 3,738,239 | 13,318,521 |
HSBC Holdings plc | 4,354,714 | 34,023,230 |
Lloyds Banking Group plc | 12,728,817 | 14,447,337 |
Royal Bank of Scotland Group plc * | 734,188 | 3,587,712 |
Standard Chartered plc | 569,527 | 6,322,111 |
71,698,911 | ||
Capital Goods 0.8% | ||
Ashtead Group plc | 114,085 | 1,754,141 |
BAE Systems plc | 697,194 | 4,716,161 |
Bunzl plc | 74,222 | 2,122,493 |
Cobham plc | 266,366 | 1,137,272 |
IMI plc | 60,653 | 889,425 |
Meggitt plc | 179,669 | 978,781 |
Melrose Industries plc | 217,979 | 891,779 |
Rolls-Royce Holdings plc * | 412,592 | 4,362,958 |
Smiths Group plc | 91,636 | 1,355,661 |
The Weir Group plc | 45,373 | 745,381 |
Travis Perkins plc | 54,666 | 1,611,236 |
Wolseley plc | 58,505 | 3,434,903 |
24,000,191 | ||
Commercial & Professional Supplies 0.4% | ||
Aggreko plc | 53,732 | 757,396 |
Babcock International Group plc | 58,617 | 868,943 |
Capita plc | 150,226 | 2,946,816 |
Experian plc | 217,237 | 3,701,732 |
Security | Number of Shares | Value ($) |
G4S plc | 338,396 | 1,264,034 |
Intertek Group plc | 37,167 | 1,501,064 |
11,039,985 | ||
Consumer Durables & Apparel 0.3% | ||
Barratt Developments plc | 214,307 | 2,018,872 |
Burberry Group plc | 101,607 | 2,075,436 |
Persimmon plc | 66,446 | 2,037,732 |
Taylor Wimpey plc | 700,970 | 2,135,404 |
8,267,444 | ||
Consumer Services 0.6% | ||
Carnival plc | 39,824 | 2,216,431 |
Compass Group plc | 366,560 | 6,301,495 |
InterContinental Hotels Group plc | 54,244 | 2,167,559 |
Merlin Entertainments plc | 147,259 | 939,647 |
TUI AG | 108,580 | 2,019,121 |
Whitbread plc | 40,564 | 3,097,631 |
William Hill plc | 196,791 | 960,196 |
17,702,080 | ||
Diversified Financials 0.4% | ||
3i Group plc | 221,065 | 1,702,882 |
Aberdeen Asset Management plc | 203,474 | 1,084,923 |
Hargreaves Lansdown plc | 57,521 | 1,278,334 |
ICAP plc | 115,235 | 780,057 |
Investec plc | 130,696 | 1,088,724 |
London Stock Exchange Group plc | 70,579 | 2,763,341 |
Schroders plc | 27,532 | 1,263,259 |
9,961,520 | ||
Energy 2.6% | ||
Amec Foster Wheeler plc | 90,553 | 990,850 |
BG Group plc | 763,918 | 12,068,771 |
BP plc | 4,078,629 | 24,239,233 |
Petrofac Ltd. | 60,315 | 782,601 |
Royal Dutch Shell plc, A Shares | 862,532 | 22,518,423 |
Royal Dutch Shell plc, B Shares | 538,661 | 14,104,777 |
Tullow Oil plc * | 209,287 | 653,703 |
75,358,358 | ||
Food & Staples Retailing 0.3% | ||
J. Sainsbury plc | 297,156 | 1,217,578 |
Tesco plc * | 1,807,468 | 5,097,597 |
WM Morrison Supermarkets plc | 511,940 | 1,327,456 |
7,642,631 | ||
Food, Beverage & Tobacco 2.5% | ||
Associated British Foods plc | 78,433 | 4,167,605 |
British American Tobacco plc | 416,025 | 24,715,858 |
Coca-Cola HBC AG CDI * | 46,971 | 1,119,143 |
Diageo plc | 562,011 | 16,202,737 |
Imperial Tobacco Group plc | 213,490 | 11,496,009 |
SABMiller plc | 216,502 | 13,298,284 |
Tate & Lyle plc | 103,776 | 952,569 |
71,952,205 | ||
Health Care Equipment & Services 0.1% | ||
Smith & Nephew plc | 198,297 | 3,386,032 |
Security | Number of Shares | Value ($) |
Household & Personal Products 0.9% | ||
Reckitt Benckiser Group plc | 143,178 | 13,972,806 |
Unilever plc | 286,445 | 12,754,964 |
26,727,770 | ||
Insurance 1.3% | ||
Admiral Group plc | 46,673 | 1,158,245 |
Aviva plc | 910,970 | 6,808,197 |
Direct Line Insurance Group plc | 305,349 | 1,852,203 |
Legal & General Group plc | 1,309,432 | 5,273,082 |
Old Mutual plc | 1,089,149 | 3,559,785 |
Prudential plc | 573,911 | 13,404,539 |
RSA Insurance Group plc | 226,227 | 1,464,122 |
St. James's Place plc | 115,322 | 1,709,127 |
Standard Life plc | 443,346 | 2,866,369 |
38,095,669 | ||
Materials 1.2% | ||
Anglo American plc | 316,049 | 2,651,559 |
Antofagasta plc | 88,778 | 717,692 |
BHP Billiton plc | 472,822 | 7,557,597 |
Croda International plc | 30,961 | 1,381,078 |
Fresnillo plc | 54,397 | 610,137 |
Glencore plc * | 2,734,013 | 4,720,139 |
Johnson Matthey plc | 47,110 | 1,873,762 |
Mondi plc | 79,674 | 1,842,393 |
Randgold Resources Ltd. | 21,531 | 1,444,016 |
Rexam plc | 159,024 | 1,322,251 |
Rio Tinto plc | 282,987 | 10,313,525 |
34,434,149 | ||
Media 0.7% | ||
ITV plc | 847,161 | 3,288,923 |
Pearson plc | 180,891 | 2,401,471 |
RELX plc | 248,022 | 4,434,907 |
Sky plc | 228,161 | 3,850,381 |
WPP plc | 287,967 | 6,455,304 |
20,430,986 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.8% | ||
AstraZeneca plc | 281,870 | 17,964,278 |
GlaxoSmithKline plc | 1,085,292 | 23,405,087 |
Shire plc | 132,350 | 10,022,977 |
51,392,342 | ||
Real Estate 0.4% | ||
Hammerson plc | 169,520 | 1,660,907 |
Intu Properties plc | 214,014 | 1,139,269 |
Land Securities Group plc | 177,361 | 3,653,938 |
Segro plc | 170,411 | 1,180,459 |
The British Land Co., plc | 220,247 | 2,950,140 |
10,584,713 | ||
Retailing 0.4% | ||
Dixons Carphone plc | 218,188 | 1,548,934 |
Kingfisher plc | 519,154 | 2,822,000 |
Marks & Spencer Group plc | 373,012 | 2,945,401 |
Next plc | 32,162 | 3,960,908 |
Sports Direct International plc * | 53,606 | 575,141 |
11,852,384 | ||
Semiconductors & Semiconductor Equipment 0.2% | ||
ARM Holdings plc | 313,904 | 4,943,558 |
Security | Number of Shares | Value ($) |
Software & Services 0.1% | ||
The Sage Group plc | 240,619 | 2,017,484 |
Telecommunication Services 1.2% | ||
BT Group plc | 1,866,458 | 13,329,330 |
Inmarsat plc | 104,142 | 1,578,470 |
Vodafone Group plc | 5,916,316 | 19,470,195 |
34,377,995 | ||
Transportation 0.1% | ||
easyJet plc | 37,117 | 999,863 |
Royal Mail plc | 172,766 | 1,183,633 |
2,183,496 | ||
Utilities 0.9% | ||
Centrica plc | 1,117,196 | 3,887,367 |
National Grid plc | 835,111 | 11,896,053 |
Severn Trent plc | 52,885 | 1,823,887 |
SSE plc | 218,340 | 5,079,590 |
United Utilities Group plc | 147,060 | 2,237,835 |
24,924,732 | ||
564,558,506 | ||
Total Common Stock | ||
(Cost $2,378,291,644) | 2,781,955,810 | |
Preferred Stock 0.5% of net assets | ||
Germany 0.4% | ||
Automobiles & Components 0.2% | ||
Bayerische Motoren Werke AG | 12,237 | 989,570 |
Porsche Automobil Holding SE | 35,569 | 1,662,635 |
Volkswagen AG | 36,532 | 4,385,120 |
7,037,325 | ||
Household & Personal Products 0.2% | ||
Henkel AG & Co. KGaA | 39,609 | 4,295,732 |
Materials 0.0% | ||
Fuchs Petrolub SE | 16,120 | 773,100 |
12,106,157 | ||
Ireland 0.0% | ||
Transportation 0.0% | ||
Ryanair Holding plc, B Shares *(d) | 44,698 | 14,460 |
Italy 0.1% | ||
Banks 0.0% | ||
Intesa Sanpaolo S.p.A. - RSP | 209,571 | 668,619 |
Telecommunication Services 0.1% | ||
Telecom Italia S.p.A. - RSP | 1,349,547 | 1,516,764 |
2,185,383 |
Security | Number of Shares | Value ($) |
United Kingdom 0.0% | ||
Capital Goods 0.0% | ||
Rolls-Royce Holdings plc *(d) | 38,247,278 | 58,962 |
Total Preferred Stock | ||
(Cost $15,443,474) | 14,364,962 | |
Other Investment Company 0.4% of net assets | ||
United States 0.4% | ||
Securities Lending Collateral 0.4% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (c) | 12,250,477 | 12,250,477 |
Total Other Investment Company | ||
(Cost $12,250,477) | 12,250,477 | |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 1.2% of net assets | ||
Time Deposits 1.2% | ||
Brown Brothers Harriman | ||
Euro | ||
(0.24%), 11/02/15 | 15,068 | 16,569 |
Hong Kong Dollar | ||
0.01%, 11/02/15 | 72,940 | 9,411 |
Japanese Yen | ||
0.01%, 11/02/15 | 744,140 | 6,167 |
Singapore Dollar | ||
0.10%, 11/02/15 | 3,911 | 2,791 |
Credit Suisse AG | ||
Swiss Franc | ||
(1.00%), 11/02/15 | 197,840 | 200,152 |
DNB | ||
Great British Pound | ||
0.08%, 11/02/15 | 325,906 | 502,416 |
U.S. Dollar | ||
0.03%, 11/02/15 | 3,344,569 | 3,344,569 |
National Australia Bank | ||
Australian Dollar | ||
0.85%, 11/02/15 | 151,515 | 108,046 |
Nordea Bank | ||
U.S. Dollar | ||
0.03%, 11/02/15 | 28,414,324 | 28,414,324 |
Total Short-Term Investments | ||
(Cost $32,604,445) | 32,604,445 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $11,696,492. |
(b) | Illiquid security. At the period end, the value of these amounted to $0 or 0.0% of net assets. |
(c) | The rate shown is the 7-day yield. |
(d) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
SDR — | Swedish Depositary Receipt |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/18/15 | 400 | 35,142,000 | 266,130 |
Table of Contents
Holdings by Category | Cost ($) | Value ($) | |
99.6% | Common Stock | 3,919,296,392 | 4,864,052,589 |
0.6% | Other Investment Companies | 30,796,847 | 30,796,847 |
100.2% | Total Investments | 3,950,093,239 | 4,894,849,436 |
(0.2%) | Other Assets and Liabilities, Net | (9,185,285) | |
100.0% | Net Assets | 4,885,664,151 |
Security | Number of Shares | Value ($) |
Common Stock 99.6% of net assets | ||
Automobiles & Components 1.3% | ||
BorgWarner, Inc. | 48,567 | 2,079,639 |
Dana Holding Corp. | 60,700 | 1,019,760 |
Delphi Automotive plc | 41,200 | 3,427,428 |
Ford Motor Co. | 1,207,141 | 17,877,758 |
General Motors Co. | 519,268 | 18,127,646 |
Harley-Davidson, Inc. | 47,654 | 2,356,490 |
Johnson Controls, Inc. | 209,709 | 9,474,653 |
Lear Corp. | 32,200 | 4,026,932 |
The Goodyear Tire & Rubber Co. | 62,190 | 2,042,320 |
Visteon Corp. * | 16,000 | 1,745,120 |
62,177,746 | ||
Banks 5.4% | ||
Bank of America Corp. | 2,866,194 | 48,094,735 |
BB&T Corp. | 189,975 | 7,057,571 |
CIT Group, Inc. | 42,700 | 1,836,100 |
Citigroup, Inc. | 685,472 | 36,446,546 |
Citizens Financial Group, Inc. | 26,600 | 646,380 |
Comerica, Inc. | 37,600 | 1,631,840 |
Fifth Third Bancorp | 229,890 | 4,379,404 |
Hudson City Bancorp, Inc. | 165,590 | 1,675,771 |
Huntington Bancshares, Inc. | 144,327 | 1,583,267 |
JPMorgan Chase & Co. | 1,024,223 | 65,806,328 |
KeyCorp | 203,557 | 2,528,178 |
M&T Bank Corp. | 25,414 | 3,045,868 |
New York Community Bancorp, Inc. | 138,530 | 2,288,516 |
People's United Financial, Inc. | 103,777 | 1,655,243 |
PHH Corp. * | 78,058 | 1,147,453 |
Popular, Inc. | 37,100 | 1,097,047 |
Regions Financial Corp. | 363,025 | 3,394,284 |
SunTrust Banks, Inc. | 128,260 | 5,325,355 |
Security | Number of Shares | Value ($) |
The PNC Financial Services Group, Inc. | 112,035 | 10,112,279 |
U.S. Bancorp | 324,960 | 13,706,813 |
Wells Fargo & Co. | 929,263 | 50,310,299 |
263,769,277 | ||
Capital Goods 7.7% | ||
3M Co. | 136,961 | 21,531,639 |
AECOM * | 55,254 | 1,628,335 |
AGCO Corp. | 47,140 | 2,281,105 |
AMETEK, Inc. | 30,700 | 1,682,974 |
Armstrong World Industries, Inc. * | 32,700 | 1,622,574 |
Carlisle Cos., Inc. | 13,700 | 1,191,900 |
Caterpillar, Inc. | 203,337 | 14,841,568 |
Chicago Bridge & Iron Co., N.V. (b) | 22,800 | 1,023,036 |
Cummins, Inc. | 53,894 | 5,578,568 |
Danaher Corp. | 74,256 | 6,928,827 |
Deere & Co. | 139,093 | 10,849,254 |
Dover Corp. | 56,475 | 3,638,684 |
Eaton Corp. plc | 95,516 | 5,340,300 |
EMCOR Group, Inc. | 30,240 | 1,459,987 |
Emerson Electric Co. | 275,810 | 13,026,506 |
Fastenal Co. | 52,440 | 2,053,550 |
Flowserve Corp. | 51,875 | 2,404,925 |
Fluor Corp. | 127,750 | 6,107,727 |
Fortune Brands Home & Security, Inc. | 25,500 | 1,334,415 |
General Dynamics Corp. | 90,716 | 13,478,583 |
General Electric Co. | 2,508,698 | 72,551,546 |
Honeywell International, Inc. | 130,245 | 13,451,704 |
Hubbell, Inc., Class B | 15,684 | 1,518,995 |
Illinois Tool Works, Inc. | 103,734 | 9,537,304 |
Ingersoll-Rand plc | 78,882 | 4,674,547 |
Jacobs Engineering Group, Inc. * | 75,240 | 3,020,134 |
Joy Global, Inc. | 70,800 | 1,216,344 |
KBR, Inc. | 186,700 | 3,442,748 |
Kennametal, Inc. | 36,200 | 1,017,944 |
L-3 Communications Holdings, Inc. | 61,566 | 7,781,942 |
Lincoln Electric Holdings, Inc. | 19,400 | 1,160,314 |
Lockheed Martin Corp. | 72,784 | 16,000,107 |
Northrop Grumman Corp. | 93,433 | 17,542,046 |
NOW, Inc. *(b) | 35,300 | 582,803 |
Oshkosh Corp. | 41,720 | 1,714,275 |
Owens Corning | 51,950 | 2,365,283 |
PACCAR, Inc. | 85,521 | 4,502,681 |
Parker-Hannifin Corp. | 49,397 | 5,171,866 |
Pentair plc | 33,837 | 1,892,165 |
Precision Castparts Corp. | 19,416 | 4,481,407 |
Quanta Services, Inc. * | 74,900 | 1,506,239 |
Raytheon Co. | 122,515 | 14,383,261 |
Rockwell Automation, Inc. | 22,550 | 2,461,558 |
Rockwell Collins, Inc. | 35,430 | 3,072,490 |
Roper Technologies, Inc. | 10,300 | 1,919,405 |
Snap-on, Inc. | 9,200 | 1,526,188 |
SPX Corp. | 23,436 | 287,091 |
Stanley Black & Decker, Inc. | 35,403 | 3,752,010 |
Textron, Inc. | 68,020 | 2,868,403 |
The Boeing Co. | 103,572 | 15,335,906 |
The Timken Co. | 39,265 | 1,240,774 |
TransDigm Group, Inc. * | 6,800 | 1,494,980 |
Trinity Industries, Inc. | 37,100 | 1,004,297 |
Security | Number of Shares | Value ($) |
United Rentals, Inc. * | 21,400 | 1,602,004 |
United Technologies Corp. | 247,892 | 24,395,052 |
W.W. Grainger, Inc. | 18,638 | 3,913,980 |
WESCO International, Inc. * | 18,200 | 890,526 |
Xylem, Inc. | 38,855 | 1,414,711 |
374,699,487 | ||
Commercial & Professional Supplies 0.8% | ||
Cintas Corp. | 22,250 | 2,071,252 |
Equifax, Inc. | 16,830 | 1,793,573 |
ManpowerGroup, Inc. | 50,590 | 4,643,150 |
Nielsen Holdings plc | 43,300 | 2,057,183 |
Pitney Bowes, Inc. | 108,719 | 2,245,047 |
R.R. Donnelley & Sons Co. | 143,340 | 2,418,146 |
Republic Services, Inc. | 97,163 | 4,249,910 |
Robert Half International, Inc. | 34,810 | 1,833,095 |
The ADT Corp. | 80,600 | 2,663,024 |
The Dun & Bradstreet Corp. | 14,540 | 1,655,670 |
Towers Watson & Co., Class A | 9,400 | 1,161,464 |
Tyco International plc | 90,887 | 3,311,922 |
Verisk Analytics, Inc. * | 16,000 | 1,145,760 |
Waste Management, Inc. | 155,814 | 8,376,561 |
39,625,757 | ||
Consumer Durables & Apparel 1.1% | ||
Coach, Inc. | 153,575 | 4,791,540 |
Fossil Group, Inc. * | 18,200 | 990,262 |
Garmin Ltd. | 37,170 | 1,318,420 |
Hasbro, Inc. | 34,541 | 2,653,785 |
Jarden Corp. * | 33,472 | 1,499,546 |
Leggett & Platt, Inc. | 43,717 | 1,968,577 |
Mattel, Inc. | 159,735 | 3,926,286 |
Mohawk Industries, Inc. * | 10,035 | 1,961,842 |
Newell Rubbermaid, Inc. | 56,150 | 2,382,444 |
NIKE, Inc., Class B | 123,927 | 16,238,155 |
NVR, Inc. * | 1,329 | 2,176,583 |
Polaris Industries, Inc. | 8,800 | 988,592 |
PVH Corp. | 12,400 | 1,127,780 |
Ralph Lauren Corp. | 24,020 | 2,660,695 |
Tupperware Brands Corp. | 20,658 | 1,216,136 |
VF Corp. | 54,980 | 3,712,250 |
Whirlpool Corp. | 25,555 | 4,092,378 |
53,705,271 | ||
Consumer Services 1.8% | ||
Apollo Education Group, Inc. * | 153,650 | 1,115,499 |
Aramark | 28,200 | 855,870 |
Brinker International, Inc. | 26,655 | 1,213,069 |
Carnival Corp. | 124,110 | 6,711,869 |
Chipotle Mexican Grill, Inc. * | 2,187 | 1,400,183 |
Darden Restaurants, Inc. | 42,362 | 2,621,784 |
DeVry Education Group, Inc. | 41,400 | 975,384 |
Graham Holdings Co., Class B | 1,720 | 950,248 |
H&R Block, Inc. | 61,065 | 2,275,282 |
Las Vegas Sands Corp. | 57,200 | 2,831,972 |
Marriott International, Inc., Class A | 24,989 | 1,918,655 |
McDonald's Corp. | 327,588 | 36,771,753 |
MGM Resorts International * | 75,315 | 1,746,555 |
Royal Caribbean Cruises Ltd. | 29,429 | 2,894,342 |
Starbucks Corp. | 131,780 | 8,245,475 |
Security | Number of Shares | Value ($) |
Starwood Hotels & Resorts Worldwide, Inc. | 31,270 | 2,497,535 |
Wyndham Worldwide Corp. | 37,440 | 3,045,744 |
Wynn Resorts Ltd. (b) | 30,404 | 2,126,760 |
Yum! Brands, Inc. | 90,030 | 6,384,027 |
86,582,006 | ||
Diversified Financials 3.2% | ||
Ally Financial, Inc. * | 166,900 | 3,324,648 |
American Express Co. | 206,017 | 15,092,805 |
Ameriprise Financial, Inc. | 37,334 | 4,306,850 |
Berkshire Hathaway, Inc., Class B * | 287,526 | 39,109,287 |
BlackRock, Inc. | 14,000 | 4,927,580 |
Capital One Financial Corp. | 143,332 | 11,308,895 |
CME Group, Inc. | 46,600 | 4,402,302 |
Discover Financial Services | 96,422 | 5,420,845 |
Franklin Resources, Inc. | 109,409 | 4,459,511 |
Invesco Ltd. | 66,600 | 2,209,122 |
Legg Mason, Inc. | 43,520 | 1,947,520 |
Leucadia National Corp. | 63,200 | 1,264,632 |
McGraw Hill Financial, Inc. | 47,968 | 4,443,756 |
Moody's Corp. | 18,670 | 1,795,307 |
Morgan Stanley | 193,383 | 6,375,837 |
Nasdaq, Inc. | 33,983 | 1,967,276 |
Northern Trust Corp. | 38,910 | 2,738,875 |
SLM Corp. * | 233,200 | 1,646,392 |
State Street Corp. | 71,236 | 4,915,284 |
T. Rowe Price Group, Inc. | 49,345 | 3,731,469 |
The Bank of New York Mellon Corp. | 161,949 | 6,745,176 |
The Charles Schwab Corp. (a) | 81,215 | 2,478,682 |
The Goldman Sachs Group, Inc. | 122,109 | 22,895,437 |
Voya Financial, Inc. | 19,200 | 778,944 |
158,286,432 | ||
Energy 14.4% | ||
Anadarko Petroleum Corp. | 118,579 | 7,930,563 |
Apache Corp. | 219,168 | 10,329,388 |
Baker Hughes, Inc. | 153,986 | 8,111,982 |
California Resources Corp. | 320,800 | 1,296,032 |
Cameron International Corp. * | 63,753 | 4,335,841 |
Chesapeake Energy Corp. (b) | 351,526 | 2,506,380 |
Chevron Corp. | 1,344,612 | 122,198,339 |
Cimarex Energy Co. | 13,045 | 1,540,093 |
ConocoPhillips | 971,082 | 51,807,225 |
CONSOL Energy, Inc. | 78,435 | 522,377 |
Delek US Holdings, Inc. | 34,400 | 935,680 |
Denbury Resources, Inc. | 345,400 | 1,222,716 |
Devon Energy Corp. | 184,427 | 7,733,024 |
Diamond Offshore Drilling, Inc. (b) | 84,920 | 1,688,210 |
Energen Corp. | 20,610 | 1,198,471 |
Ensco plc, Class A | 149,000 | 2,477,870 |
EOG Resources, Inc. | 70,201 | 6,026,756 |
EQT Corp. | 18,100 | 1,195,867 |
Exxon Mobil Corp. | 2,746,881 | 227,276,934 |
FMC Technologies, Inc. * | 42,178 | 1,426,882 |
Halliburton Co. | 307,270 | 11,793,023 |
Helmerich & Payne, Inc. | 29,395 | 1,654,057 |
Hess Corp. | 206,204 | 11,590,727 |
HollyFrontier Corp. | 133,202 | 6,522,902 |
Security | Number of Shares | Value ($) |
Kinder Morgan, Inc. | 146,900 | 4,017,715 |
Marathon Oil Corp. | 560,919 | 10,309,691 |
Marathon Petroleum Corp. | 342,862 | 17,760,252 |
Murphy Oil Corp. | 200,750 | 5,707,322 |
Nabors Industries Ltd. | 244,700 | 2,456,788 |
National Oilwell Varco, Inc. | 178,801 | 6,730,070 |
Newfield Exploration Co. * | 45,307 | 1,820,888 |
Noble Corp., plc (b) | 216,400 | 2,914,908 |
Noble Energy, Inc. | 82,670 | 2,962,893 |
Occidental Petroleum Corp. | 310,600 | 23,152,124 |
Oceaneering International, Inc. | 24,600 | 1,033,692 |
ONEOK, Inc. | 63,120 | 2,141,030 |
Patterson-UTI Energy, Inc. | 97,900 | 1,457,731 |
Peabody Energy Corp. (b) | 58,836 | 752,512 |
Phillips 66 | 460,908 | 41,043,857 |
Pioneer Natural Resources Co. | 12,900 | 1,769,106 |
QEP Resources, Inc. | 106,142 | 1,640,955 |
Schlumberger Ltd. | 296,663 | 23,187,180 |
Seadrill Ltd. (b) | 513,100 | 3,319,757 |
Southwestern Energy Co. * | 90,940 | 1,003,978 |
Spectra Energy Corp. | 169,560 | 4,844,329 |
Superior Energy Services, Inc. | 67,500 | 955,800 |
Tesoro Corp. | 67,092 | 7,174,148 |
The Williams Cos., Inc. | 102,109 | 4,027,179 |
Valero Energy Corp. | 407,166 | 26,840,383 |
Weatherford International plc * | 356,200 | 3,647,488 |
Whiting Petroleum Corp. * | 47,800 | 823,594 |
World Fuel Services Corp. | 102,500 | 4,557,150 |
701,373,859 | ||
Food & Staples Retailing 3.8% | ||
Casey's General Stores, Inc. | 16,612 | 1,764,527 |
Costco Wholesale Corp. | 158,663 | 25,087,794 |
CVS Health Corp. | 454,716 | 44,916,846 |
Sysco Corp. | 312,639 | 12,896,359 |
The Kroger Co. | 404,168 | 15,277,550 |
United Natural Foods, Inc. * | 22,100 | 1,114,945 |
Wal-Mart Stores, Inc. | 1,001,472 | 57,324,257 |
Walgreens Boots Alliance, Inc. | 276,182 | 23,387,092 |
Whole Foods Market, Inc. | 98,300 | 2,945,068 |
184,714,438 | ||
Food, Beverage & Tobacco 5.6% | ||
Altria Group, Inc. | 398,216 | 24,080,122 |
Archer-Daniels-Midland Co. | 404,774 | 18,481,981 |
Brown-Forman Corp., Class B | 25,677 | 2,726,384 |
Bunge Ltd. | 133,936 | 9,771,971 |
Campbell Soup Co. | 51,430 | 2,612,130 |
Coca-Cola Enterprises, Inc. | 104,995 | 5,390,443 |
ConAgra Foods, Inc. | 146,420 | 5,937,331 |
Constellation Brands, Inc., Class A | 14,420 | 1,943,816 |
Dr Pepper Snapple Group, Inc. | 54,541 | 4,874,329 |
General Mills, Inc. | 186,618 | 10,844,372 |
Hormel Foods Corp. | 34,039 | 2,299,335 |
Ingredion, Inc. | 23,000 | 2,186,380 |
Kellogg Co. | 72,037 | 5,080,049 |
McCormick & Co., Inc. - Non Voting Shares | 24,778 | 2,080,856 |
Mead Johnson Nutrition Co. | 18,300 | 1,500,600 |
Molson Coors Brewing Co., Class B | 24,780 | 2,183,118 |
Security | Number of Shares | Value ($) |
Mondelez International, Inc., Class A | 407,795 | 18,823,817 |
Monster Beverage Corp. * | 10,700 | 1,458,624 |
PepsiCo, Inc. | 375,263 | 38,348,126 |
Philip Morris International, Inc. | 531,188 | 46,957,019 |
Reynolds American, Inc. | 185,110 | 8,944,515 |
The Coca-Cola Co. | 887,043 | 37,566,271 |
The Hershey Co. | 22,012 | 1,952,244 |
The JM Smucker Co. | 37,825 | 4,440,277 |
The Kraft Heinz Co. | 103,374 | 8,060,071 |
Tyson Foods, Inc., Class A | 170,415 | 7,559,609 |
276,103,790 | ||
Health Care Equipment & Services 5.3% | ||
Abbott Laboratories | 263,063 | 11,785,222 |
Aetna, Inc. | 123,091 | 14,128,385 |
AmerisourceBergen Corp. | 68,967 | 6,656,005 |
Anthem, Inc. | 191,150 | 26,598,523 |
Baxter International, Inc. | 198,453 | 7,420,158 |
Becton, Dickinson & Co. | 57,062 | 8,132,476 |
Boston Scientific Corp. * | 226,865 | 4,147,092 |
C.R. Bard, Inc. | 18,500 | 3,447,475 |
Cardinal Health, Inc. | 155,967 | 12,820,487 |
Centene Corp. * | 17,900 | 1,064,692 |
Cerner Corp. * | 19,300 | 1,279,397 |
Cigna Corp. | 35,209 | 4,719,414 |
Community Health Systems, Inc. * | 53,462 | 1,499,075 |
DaVita HealthCare Partners, Inc. * | 28,420 | 2,202,834 |
DENTSPLY International, Inc. | 24,735 | 1,505,125 |
Express Scripts Holding Co. * | 177,007 | 15,289,865 |
HCA Holdings, Inc. * | 137,774 | 9,477,474 |
Health Net, Inc. * | 55,170 | 3,545,224 |
Henry Schein, Inc. * | 21,252 | 3,224,141 |
Humana, Inc. | 60,170 | 10,748,167 |
Intuitive Surgical, Inc. * | 2,979 | 1,479,371 |
Laboratory Corp. of America Holdings * | 20,299 | 2,491,499 |
LifePoint Health, Inc. * | 17,830 | 1,228,130 |
Magellan Health, Inc. * | 24,100 | 1,286,940 |
McKesson Corp. | 77,317 | 13,824,280 |
Medtronic plc | 240,936 | 17,809,989 |
Owens & Minor, Inc. | 60,802 | 2,179,752 |
Patterson Cos., Inc. | 33,275 | 1,577,235 |
Quest Diagnostics, Inc. | 72,452 | 4,923,113 |
ResMed, Inc. | 19,600 | 1,129,156 |
St. Jude Medical, Inc. | 73,960 | 4,719,388 |
Stryker Corp. | 60,418 | 5,777,169 |
Tenet Healthcare Corp. * | 36,893 | 1,157,333 |
UnitedHealth Group, Inc. | 321,696 | 37,889,355 |
Universal Health Services, Inc., Class B | 15,448 | 1,886,046 |
Varian Medical Systems, Inc. * | 24,903 | 1,955,633 |
WellCare Health Plans, Inc. * | 20,100 | 1,780,860 |
Zimmer Biomet Holdings, Inc. | 45,624 | 4,770,902 |
257,557,382 | ||
Household & Personal Products 2.2% | ||
Avon Products, Inc. | 520,625 | 2,098,119 |
Church & Dwight Co., Inc. | 20,900 | 1,799,281 |
Colgate-Palmolive Co. | 199,268 | 13,221,432 |
Security | Number of Shares | Value ($) |
Edgewell Personal Care Co. | 12,320 | 1,043,627 |
Herbalife Ltd. * | 37,200 | 2,084,688 |
Kimberly-Clark Corp. | 90,601 | 10,845,846 |
The Clorox Co. | 27,220 | 3,319,207 |
The Estee Lauder Cos., Inc., Class A | 31,234 | 2,513,087 |
The Procter & Gamble Co. | 908,535 | 69,393,903 |
106,319,190 | ||
Insurance 3.6% | ||
ACE Ltd. | 67,804 | 7,698,466 |
Aflac, Inc. | 131,798 | 8,402,122 |
Alleghany Corp. * | 2,000 | 992,540 |
American Financial Group, Inc. | 23,940 | 1,728,229 |
American International Group, Inc. | 306,442 | 19,324,233 |
Aon plc | 48,936 | 4,566,218 |
Arch Capital Group Ltd. * | 35,375 | 2,649,234 |
Arthur J. Gallagher & Co. | 25,800 | 1,128,234 |
Assurant, Inc. | 46,955 | 3,828,241 |
Axis Capital Holdings Ltd. | 47,350 | 2,556,900 |
Cincinnati Financial Corp. | 40,780 | 2,456,179 |
Everest Re Group Ltd. | 15,325 | 2,727,390 |
First American Financial Corp. | 33,000 | 1,258,290 |
FNF Group | 67,584 | 2,384,364 |
Genworth Financial, Inc., Class A * | 299,600 | 1,402,128 |
Lincoln National Corp. | 37,880 | 2,026,959 |
Loews Corp. | 133,689 | 4,874,301 |
Marsh & McLennan Cos., Inc. | 98,620 | 5,497,079 |
MetLife, Inc. | 162,818 | 8,202,771 |
Old Republic International Corp. | 80,800 | 1,457,632 |
PartnerRe Ltd. | 25,756 | 3,580,084 |
Principal Financial Group, Inc. | 44,871 | 2,250,729 |
Prudential Financial, Inc. | 87,637 | 7,230,052 |
Reinsurance Group of America, Inc. | 21,600 | 1,949,184 |
RenaissanceRe Holdings Ltd. | 24,025 | 2,633,861 |
The Allstate Corp. | 122,643 | 7,589,149 |
The Chubb Corp. | 101,729 | 13,158,646 |
The Hartford Financial Services Group, Inc. | 134,927 | 6,241,723 |
The Progressive Corp. | 230,445 | 7,634,643 |
The Travelers Cos., Inc. | 232,672 | 26,266,342 |
Torchmark Corp. | 38,965 | 2,260,360 |
Unum Group | 110,725 | 3,836,621 |
Validus Holdings Ltd. | 29,800 | 1,320,140 |
W. R. Berkley Corp. | 36,163 | 2,018,980 |
White Mountains Insurance Group Ltd. | 2,729 | 2,155,910 |
XL Group plc | 65,685 | 2,501,285 |
177,789,219 | ||
Materials 3.6% | ||
Air Products & Chemicals, Inc. | 39,385 | 5,473,727 |
Airgas, Inc. | 20,900 | 2,009,744 |
Albemarle Corp. | 35,585 | 1,904,509 |
Alcoa, Inc. | 459,630 | 4,104,496 |
Allegheny Technologies, Inc. | 50,611 | 743,982 |
AptarGroup, Inc. | 21,800 | 1,603,608 |
Ashland, Inc. | 17,535 | 1,923,940 |
Avery Dennison Corp. | 34,900 | 2,267,453 |
Ball Corp. | 44,180 | 3,026,330 |
Security | Number of Shares | Value ($) |
Bemis Co., Inc. | 42,138 | 1,929,078 |
Celanese Corp., Series A | 28,500 | 2,024,925 |
CF Industries Holdings, Inc. | 62,555 | 3,175,917 |
Cliffs Natural Resources, Inc. (b) | 537,200 | 1,482,672 |
Commercial Metals Co. | 114,845 | 1,650,323 |
Cytec Industries, Inc. | 21,400 | 1,592,588 |
Domtar Corp. | 67,182 | 2,770,586 |
E.I. du Pont de Nemours & Co. | 199,986 | 12,679,112 |
Eastman Chemical Co. | 41,720 | 3,010,932 |
Ecolab, Inc. | 27,591 | 3,320,577 |
FMC Corp. | 32,980 | 1,342,616 |
Freeport-McMoRan, Inc. | 954,940 | 11,239,644 |
Graphic Packaging Holding Co. | 88,600 | 1,254,576 |
Huntsman Corp. | 96,615 | 1,272,420 |
International Flavors & Fragrances, Inc. | 12,235 | 1,419,994 |
International Paper Co. | 149,593 | 6,386,125 |
LyondellBasell Industries N.V., Class A | 165,480 | 15,374,747 |
Monsanto Co. | 93,069 | 8,675,892 |
Newmont Mining Corp. | 351,511 | 6,840,404 |
Nucor Corp. | 157,516 | 6,662,927 |
Owens-Illinois, Inc. * | 86,645 | 1,867,200 |
Packaging Corp. of America | 16,521 | 1,130,862 |
PPG Industries, Inc. | 54,400 | 5,671,744 |
Praxair, Inc. | 71,595 | 7,953,489 |
Reliance Steel & Aluminum Co. | 43,920 | 2,633,443 |
RPM International, Inc. | 30,365 | 1,387,984 |
Sigma-Aldrich Corp. | 14,930 | 2,086,020 |
Sonoco Products Co. | 39,855 | 1,701,410 |
Southern Copper Corp. (b) | 51,597 | 1,432,333 |
Steel Dynamics, Inc. | 113,150 | 2,089,880 |
The Dow Chemical Co. | 345,168 | 17,834,831 |
The Mosaic Co. | 161,731 | 5,464,890 |
The Sherwin-Williams Co. | 8,265 | 2,205,350 |
The Valspar Corp. | 20,750 | 1,679,712 |
United States Steel Corp. (b) | 119,104 | 1,391,135 |
Vulcan Materials Co. | 17,423 | 1,682,713 |
WestRock Co. | 56,507 | 3,037,816 |
178,414,656 | ||
Media 3.6% | ||
Cablevision Systems Corp., Class A | 100,465 | 3,274,154 |
CBS Corp., Class B - Non Voting Shares | 149,721 | 6,965,021 |
Charter Communications, Inc., Class A *(b) | 14,000 | 2,673,160 |
Comcast Corp., Class A | 471,757 | 29,541,423 |
Comcast Corp., Special Class A | 38,100 | 2,389,251 |
Discovery Communications, Inc., Class A * | 94,241 | 2,774,455 |
Discovery Communications, Inc., Class C * | 121,367 | 3,340,020 |
DISH Network Corp., Class A * | 34,735 | 2,187,263 |
Liberty Media Corp., Class A * | 20,000 | 815,200 |
Liberty Media Corp., Class C * | 35,300 | 1,381,995 |
News Corp., Class A | 180,400 | 2,778,160 |
News Corp., Class B | 17,500 | 270,900 |
Omnicom Group, Inc. | 78,313 | 5,867,210 |
Scripps Networks Interactive, Inc., Class A | 26,000 | 1,562,080 |
Security | Number of Shares | Value ($) |
TEGNA, Inc. | 79,630 | 2,153,195 |
The Interpublic Group of Cos., Inc. | 107,605 | 2,467,383 |
The Walt Disney Co. | 285,662 | 32,491,196 |
Thomson Reuters Corp. | 112,657 | 4,621,190 |
Time Warner Cable, Inc. | 106,901 | 20,247,050 |
Time Warner, Inc. | 319,033 | 24,035,946 |
Time, Inc. | 43,500 | 808,230 |
Twenty-First Century Fox, Inc., Class A | 320,121 | 9,824,514 |
Twenty-First Century Fox, Inc., Class B | 50,300 | 1,553,264 |
Viacom, Inc., Class B | 200,298 | 9,876,694 |
173,898,954 | ||
Pharmaceuticals, Biotechnology & Life Sciences 5.5% | ||
AbbVie, Inc. | 152,522 | 9,082,685 |
Agilent Technologies, Inc. | 73,836 | 2,788,047 |
Allergan plc * | 7,540 | 2,325,864 |
Amgen, Inc. | 155,423 | 24,584,810 |
Biogen, Inc. * | 12,450 | 3,616,850 |
Bristol-Myers Squibb Co. | 288,761 | 19,043,788 |
Celgene Corp. * | 46,356 | 5,688,345 |
Eli Lilly & Co. | 232,681 | 18,979,789 |
Gilead Sciences, Inc. | 104,487 | 11,298,179 |
Johnson & Johnson | 589,307 | 59,537,686 |
Merck & Co., Inc. | 652,362 | 35,658,107 |
Mettler-Toledo International, Inc. * | 4,300 | 1,337,257 |
Mylan N.V. * | 52,475 | 2,313,623 |
Perrigo Co., plc | 7,600 | 1,198,824 |
Pfizer, Inc. | 1,774,304 | 60,006,961 |
Thermo Fisher Scientific, Inc. | 45,545 | 5,956,375 |
Waters Corp. * | 14,800 | 1,891,440 |
Zoetis, Inc. | 47,800 | 2,055,878 |
267,364,508 | ||
Real Estate 1.2% | ||
American Capital Agency Corp. | 72,500 | 1,292,675 |
American Tower Corp. | 28,765 | 2,940,646 |
Annaly Capital Management, Inc. | 469,561 | 4,672,132 |
AvalonBay Communities, Inc. | 10,299 | 1,800,574 |
Boston Properties, Inc. | 16,490 | 2,075,266 |
Corrections Corp. of America | 45,800 | 1,305,300 |
Crown Castle International Corp. | 17,680 | 1,510,933 |
Digital Realty Trust, Inc. | 19,900 | 1,471,804 |
Equity Residential | 39,145 | 3,026,691 |
General Growth Properties, Inc. | 59,100 | 1,710,945 |
HCP, Inc. | 71,365 | 2,654,778 |
Hospitality Properties Trust | 50,961 | 1,367,793 |
Host Hotels & Resorts, Inc. | 114,278 | 1,980,438 |
Iron Mountain, Inc. | 70,079 | 2,147,221 |
Kimco Realty Corp. | 60,860 | 1,629,222 |
Plum Creek Timber Co., Inc. | 40,195 | 1,637,544 |
Prologis, Inc. | 44,100 | 1,884,393 |
Public Storage | 13,630 | 3,127,540 |
Simon Property Group, Inc. | 30,111 | 6,066,162 |
The Macerich Co. | 14,997 | 1,270,846 |
Ventas, Inc. | 45,178 | 2,426,962 |
Vornado Realty Trust | 28,941 | 2,910,018 |
Security | Number of Shares | Value ($) |
Welltower, Inc. | 27,600 | 1,790,412 |
Weyerhaeuser Co. | 241,842 | 7,093,226 |
59,793,521 | ||
Retailing 5.1% | ||
Aaron's, Inc. | 43,100 | 1,063,277 |
Abercrombie & Fitch Co., Class A | 96,478 | 2,044,369 |
Advance Auto Parts, Inc. | 9,845 | 1,953,543 |
Amazon.com, Inc. * | 15,650 | 9,795,335 |
American Eagle Outfitters, Inc. | 141,035 | 2,155,015 |
AutoNation, Inc. * | 30,200 | 1,908,338 |
AutoZone, Inc. * | 3,321 | 2,605,026 |
Bed Bath & Beyond, Inc. * | 93,905 | 5,599,555 |
Best Buy Co., Inc. | 227,176 | 7,957,975 |
Big Lots, Inc. | 47,365 | 2,183,527 |
CarMax, Inc. * | 35,307 | 2,083,466 |
Chico's FAS, Inc. | 78,300 | 1,082,106 |
Core-Mark Holding Co., Inc. | 27,065 | 2,200,114 |
CST Brands, Inc. | 95,500 | 3,431,315 |
Dick's Sporting Goods, Inc. | 32,500 | 1,447,875 |
Dillard's, Inc., Class A | 16,675 | 1,492,079 |
Dollar General Corp. | 75,300 | 5,103,081 |
Dollar Tree, Inc. * | 56,181 | 3,679,294 |
Expedia, Inc. | 12,565 | 1,712,610 |
Foot Locker, Inc. | 43,195 | 2,926,461 |
GameStop Corp., Class A (b) | 98,390 | 4,532,827 |
Genuine Parts Co. | 51,700 | 4,692,292 |
Guess?, Inc. | 62,300 | 1,311,415 |
J.C. Penney Co., Inc. *(b) | 479,910 | 4,400,775 |
Kohl's Corp. | 168,745 | 7,782,519 |
L Brands, Inc. | 50,520 | 4,848,910 |
Liberty Interactive Corp., QVC Group, Class A * | 135,425 | 3,706,582 |
LKQ Corp. * | 41,200 | 1,219,932 |
Lowe's Cos., Inc. | 358,345 | 26,456,611 |
Macy's, Inc. | 117,036 | 5,966,495 |
Murphy USA, Inc. * | 81,500 | 5,001,655 |
Nordstrom, Inc. | 43,055 | 2,807,617 |
O'Reilly Automotive, Inc. * | 16,930 | 4,677,082 |
Office Depot, Inc. * | 161,800 | 1,232,916 |
Rent-A-Center, Inc. | 64,170 | 1,180,086 |
Ross Stores, Inc. | 70,480 | 3,564,878 |
Signet Jewelers Ltd. | 14,300 | 2,158,442 |
Staples, Inc. | 630,156 | 8,185,726 |
Target Corp. | 339,783 | 26,224,452 |
The Gap, Inc. | 149,775 | 4,076,876 |
The Home Depot, Inc. | 328,643 | 40,633,421 |
The Priceline Group, Inc. * | 2,584 | 3,757,756 |
The TJX Cos., Inc. | 171,288 | 12,536,569 |
Tiffany & Co. | 21,135 | 1,742,369 |
Tractor Supply Co. | 22,400 | 2,069,536 |
Urban Outfitters, Inc. * | 36,054 | 1,031,144 |
Williams-Sonoma, Inc. | 26,645 | 1,965,069 |
250,188,313 | ||
Semiconductors & Semiconductor Equipment 2.3% | ||
Altera Corp. | 36,150 | 1,899,683 |
Analog Devices, Inc. | 49,065 | 2,949,788 |
Applied Materials, Inc. | 322,126 | 5,402,053 |
Avago Technologies Ltd. | 12,700 | 1,563,751 |
Security | Number of Shares | Value ($) |
Broadcom Corp., Class A | 72,527 | 3,727,888 |
Intel Corp. | 1,843,576 | 62,423,483 |
KLA-Tencor Corp. | 43,580 | 2,925,090 |
Lam Research Corp. | 26,390 | 2,021,210 |
Linear Technology Corp. | 35,455 | 1,574,911 |
Marvell Technology Group Ltd. | 225,530 | 1,851,601 |
Maxim Integrated Products, Inc. | 85,700 | 3,511,986 |
Microchip Technology, Inc. | 37,380 | 1,805,080 |
Micron Technology, Inc. * | 162,212 | 2,686,231 |
NVIDIA Corp. | 89,937 | 2,551,513 |
Texas Instruments, Inc. | 262,209 | 14,872,494 |
Xilinx, Inc. | 51,720 | 2,462,906 |
114,229,668 | ||
Software & Services 7.3% | ||
Accenture plc, Class A | 134,565 | 14,425,368 |
Activision Blizzard, Inc. | 150,600 | 5,234,856 |
Adobe Systems, Inc. * | 43,807 | 3,883,929 |
Akamai Technologies, Inc. * | 18,000 | 1,094,760 |
Alliance Data Systems Corp. * | 7,080 | 2,104,955 |
Alphabet, Inc., Class A * | 20,089 | 14,813,428 |
Alphabet, Inc., Class C * | 20,874 | 14,837,448 |
Amdocs Ltd. | 49,700 | 2,960,629 |
Autodesk, Inc. * | 25,100 | 1,385,269 |
Automatic Data Processing, Inc. | 78,619 | 6,839,067 |
Booz Allen Hamilton Holding Corp. | 51,500 | 1,517,190 |
Broadridge Financial Solutions, Inc. | 26,400 | 1,572,912 |
CA, Inc. | 107,205 | 2,970,651 |
CACI International, Inc., Class A * | 16,024 | 1,554,969 |
Citrix Systems, Inc. * | 23,563 | 1,934,522 |
Cognizant Technology Solutions Corp., Class A * | 54,700 | 3,725,617 |
Computer Sciences Corp. | 61,045 | 4,064,987 |
CoreLogic, Inc. * | 41,600 | 1,621,568 |
DST Systems, Inc. | 11,500 | 1,404,725 |
eBay, Inc. * | 184,727 | 5,153,883 |
Electronic Arts, Inc. * | 22,208 | 1,600,531 |
Facebook, Inc., Class A * | 25,000 | 2,549,250 |
Fidelity National Information Services, Inc. | 71,923 | 5,244,625 |
Fiserv, Inc. * | 44,138 | 4,259,758 |
Global Payments, Inc. | 11,300 | 1,541,433 |
IAC/InterActiveCorp | 29,362 | 1,967,548 |
International Business Machines Corp. | 456,301 | 63,918,644 |
Intuit, Inc. | 41,622 | 4,055,231 |
Leidos Holdings, Inc. | 53,800 | 2,828,266 |
MasterCard, Inc., Class A | 77,938 | 7,715,083 |
Microsoft Corp. | 1,988,728 | 104,686,642 |
Oracle Corp. | 735,544 | 28,568,529 |
Paychex, Inc. | 53,359 | 2,752,257 |
Symantec Corp. | 214,545 | 4,419,627 |
Teradata Corp. * | 46,600 | 1,309,926 |
The Western Union Co. | 233,010 | 4,485,442 |
Total System Services, Inc. | 32,470 | 1,703,051 |
Visa, Inc., Class A | 129,012 | 10,008,751 |
Xerox Corp. | 622,126 | 5,841,763 |
Yahoo! Inc. * | 86,605 | 3,084,870 |
355,641,960 |
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment 4.9% | ||
Amphenol Corp., Class A | 44,100 | 2,391,102 |
Anixter International, Inc. * | 20,120 | 1,379,830 |
Apple, Inc. | 602,357 | 71,981,661 |
Arrow Electronics, Inc. * | 73,525 | 4,043,140 |
Avnet, Inc. | 103,400 | 4,697,462 |
Cisco Systems, Inc. | 1,376,751 | 39,719,266 |
Corning, Inc. | 370,171 | 6,885,181 |
EMC Corp. | 451,243 | 11,831,591 |
FLIR Systems, Inc. | 39,700 | 1,058,799 |
Harris Corp. | 47,368 | 3,748,230 |
Hewlett-Packard Co. | 1,446,391 | 38,994,701 |
Ingram Micro, Inc., Class A | 221,951 | 6,609,701 |
Jabil Circuit, Inc. | 130,895 | 3,007,967 |
Juniper Networks, Inc. | 124,170 | 3,897,696 |
Keysight Technologies, Inc. * | 25,700 | 850,156 |
Lexmark International, Inc., Class A | 41,745 | 1,356,295 |
Motorola Solutions, Inc. | 75,172 | 5,259,785 |
NetApp, Inc. | 68,330 | 2,323,220 |
QUALCOMM, Inc. | 244,555 | 14,531,458 |
SanDisk Corp. | 43,565 | 3,354,505 |
SYNNEX Corp. | 18,095 | 1,600,322 |
Tech Data Corp. * | 66,640 | 4,850,726 |
Vishay Intertechnology, Inc. | 97,740 | 1,036,044 |
Western Digital Corp. | 51,688 | 3,453,792 |
238,862,630 | ||
Telecommunication Services 4.0% | ||
AT&T, Inc. | 3,570,954 | 119,662,669 |
CenturyLink, Inc. | 341,907 | 9,645,197 |
Frontier Communications Corp. | 668,098 | 3,434,024 |
Telephone & Data Systems, Inc. | 83,527 | 2,392,213 |
Verizon Communications, Inc. | 1,274,849 | 59,764,921 |
Windstream Holdings, Inc. (b) | 108,483 | 706,224 |
195,605,248 | ||
Transportation 1.7% | ||
Alaska Air Group, Inc. | 17,900 | 1,364,875 |
Avis Budget Group, Inc. * | 48,690 | 2,431,578 |
C.H. Robinson Worldwide, Inc. | 62,544 | 4,339,303 |
CSX Corp. | 311,033 | 8,394,781 |
Delta Air Lines, Inc. | 23,500 | 1,194,740 |
Expeditors International of Washington, Inc. | 65,625 | 3,267,469 |
FedEx Corp. | 95,933 | 14,970,345 |
Hertz Global Holdings, Inc. * | 189,600 | 3,697,200 |
JB Hunt Transport Services, Inc. | 16,245 | 1,240,631 |
JetBlue Airways Corp. * | 53,600 | 1,331,424 |
Kansas City Southern | 13,687 | 1,132,736 |
Norfolk Southern Corp. | 80,479 | 6,440,734 |
Ryder System, Inc. | 26,420 | 1,896,427 |
Union Pacific Corp. | 171,735 | 15,344,522 |
United Parcel Service, Inc., Class B | 134,641 | 13,870,716 |
80,917,481 | ||
Utilities 4.2% | ||
AES Corp. | 494,040 | 5,409,738 |
AGL Resources, Inc. | 32,414 | 2,025,875 |
Alliant Energy Corp. | 33,275 | 1,963,891 |
Security | Number of Shares | Value ($) |
Ameren Corp. | 115,690 | 5,053,339 |
American Electric Power Co., Inc. | 176,401 | 9,993,117 |
American Water Works Co., Inc. | 40,600 | 2,328,816 |
Atmos Energy Corp. | 36,960 | 2,328,480 |
Calpine Corp. * | 161,050 | 2,497,886 |
CenterPoint Energy, Inc. | 196,570 | 3,646,373 |
CMS Energy Corp. | 89,405 | 3,224,838 |
Consolidated Edison, Inc. | 119,302 | 7,844,106 |
Dominion Resources, Inc. | 146,380 | 10,455,923 |
DTE Energy Co. | 63,130 | 5,150,777 |
Duke Energy Corp. | 180,177 | 12,877,250 |
Edison International | 105,376 | 6,377,356 |
Entergy Corp. | 109,770 | 7,481,923 |
Eversource Energy | 67,115 | 3,418,838 |
Exelon Corp. | 466,173 | 13,015,550 |
FirstEnergy Corp. | 258,165 | 8,054,748 |
Great Plains Energy, Inc. | 57,870 | 1,591,425 |
MDU Resources Group, Inc. | 92,358 | 1,741,872 |
National Fuel Gas Co. | 23,245 | 1,221,060 |
NextEra Energy, Inc. | 103,759 | 10,651,899 |
NiSource, Inc. | 104,435 | 2,000,975 |
NRG Energy, Inc. | 168,682 | 2,174,311 |
OGE Energy Corp. | 66,684 | 1,901,161 |
Pepco Holdings, Inc. | 104,165 | 2,773,914 |
PG&E Corp. | 168,811 | 9,014,507 |
Pinnacle West Capital Corp. | 42,185 | 2,679,169 |
PPL Corp. | 214,175 | 7,367,620 |
Public Service Enterprise Group, Inc. | 206,222 | 8,514,906 |
SCANA Corp. | 51,259 | 3,035,558 |
Sempra Energy | 59,315 | 6,074,449 |
TECO Energy, Inc. | 97,625 | 2,635,875 |
The Southern Co. | 314,406 | 14,179,711 |
UGI Corp. | 54,280 | 1,990,448 |
Vectren Corp. | 28,600 | 1,300,442 |
WEC Energy Group, Inc. | 84,986 | 4,381,878 |
Westar Energy, Inc. | 42,270 | 1,678,119 |
Xcel Energy, Inc. | 178,885 | 6,373,673 |
206,431,796 | ||
Total Common Stock | ||
(Cost $3,919,296,392) | 4,864,052,589 | |
Other Investment Companies 0.6% of net assets | ||
Money Market Fund 0.1% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (c) | 4,910,122 | 4,910,122 |
Securities Lending Collateral 0.5% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (c) | 25,886,725 | 25,886,725 |
Total Other Investment Companies | ||
(Cost $30,796,847) | 30,796,847 |
At 10/31/15, the tax basis cost of the fund's investments was $3,964,131,348 and the unrealized appreciation and depreciation were $1,136,802,288 and ($206,084,200), respectively, with a net unrealized appreciation of $930,718,088.
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $25,544,730. |
(c) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/18/15 | 125 | 12,960,625 | 262,110 |
Holdings by Category | Cost ($) | Value ($) | |
99.0% | Common Stock | 1,209,007,594 | 1,401,645,072 |
0.0% | Rights | 266,857 | 266,364 |
3.6% | Other Investment Companies | 50,350,637 | 50,350,637 |
102.6% | Total Investments | 1,259,625,088 | 1,452,262,073 |
(2.6%) | Other Assets and Liabilities, Net | (36,694,514) | |
100.0% | Net Assets | 1,415,567,559 |
Security | Number of Shares | Value ($) |
Common Stock 99.0% of net assets | ||
Automobiles & Components 1.2% | ||
American Axle & Manufacturing Holdings, Inc. * | 19,900 | 440,984 |
Cooper Tire & Rubber Co. | 75,000 | 3,134,250 |
Cooper-Standard Holding, Inc. * | 10,100 | 656,904 |
Dorman Products, Inc. * | 7,300 | 340,764 |
Drew Industries, Inc. | 18,895 | 1,130,488 |
Gentex Corp. | 148,700 | 2,437,193 |
Modine Manufacturing Co. * | 83,800 | 701,406 |
Remy International, Inc. | 19,000 | 560,310 |
Standard Motor Products, Inc. | 20,200 | 893,850 |
Tenneco, Inc. * | 42,600 | 2,410,734 |
Thor Industries, Inc. | 57,100 | 3,087,968 |
Tower International, Inc. * | 26,900 | 738,943 |
16,533,794 | ||
Banks 5.2% | ||
Associated Banc-Corp. | 101,300 | 1,959,142 |
Astoria Financial Corp. | 77,800 | 1,241,688 |
BancorpSouth, Inc. | 52,700 | 1,313,811 |
Bank of Hawaii Corp. | 36,400 | 2,383,472 |
Bank of the Ozarks, Inc. | 6,900 | 345,138 |
BankUnited, Inc. | 56,500 | 2,100,670 |
BOK Financial Corp. | 19,100 | 1,283,138 |
Capitol Federal Financial, Inc. | 143,286 | 1,859,852 |
Cathay General Bancorp | 30,700 | 960,910 |
Commerce Bancshares, Inc. | 53,589 | 2,440,979 |
Community Bank System, Inc. | 20,000 | 815,200 |
Cullen/Frost Bankers, Inc. | 29,700 | 2,032,668 |
CVB Financial Corp. | 56,080 | 978,596 |
East West Bancorp, Inc. | 50,500 | 2,039,695 |
EverBank Financial Corp. | 53,000 | 914,780 |
Security | Number of Shares | Value ($) |
F.N.B. Corp. | 103,900 | 1,399,533 |
First Citizens BancShares, Inc., Class A | 5,400 | 1,383,156 |
First Financial Bancorp | 54,900 | 1,058,472 |
First Financial Bankshares, Inc. | 23,900 | 794,914 |
First Horizon National Corp. | 160,700 | 2,278,726 |
First Niagara Financial Group, Inc. | 309,000 | 3,198,150 |
First Republic Bank | 40,800 | 2,664,648 |
FirstMerit Corp. | 93,501 | 1,756,884 |
Fulton Financial Corp. | 147,600 | 1,980,792 |
Glacier Bancorp, Inc. | 35,380 | 967,997 |
Great Western Bancorp, Inc. | 16,300 | 460,638 |
Hancock Holding Co. | 44,900 | 1,239,240 |
IBERIABANK Corp. | 12,400 | 751,812 |
International Bancshares Corp. | 41,800 | 1,126,510 |
MB Financial, Inc. | 30,945 | 997,667 |
NBT Bancorp, Inc. | 30,955 | 870,145 |
Northwest Bancshares, Inc. | 116,392 | 1,566,636 |
Ocwen Financial Corp. * | 56,100 | 392,139 |
Old National Bancorp | 61,725 | 864,150 |
PacWest Bancorp | 6,900 | 310,776 |
PrivateBancorp, Inc. | 9,200 | 384,836 |
Prosperity Bancshares, Inc. | 22,800 | 1,171,464 |
Signature Bank * | 7,800 | 1,161,576 |
SVB Financial Group * | 10,400 | 1,269,528 |
Synovus Financial Corp. | 64,900 | 2,052,787 |
TCF Financial Corp. | 137,200 | 2,111,508 |
Trustmark Corp. | 61,000 | 1,465,830 |
UMB Financial Corp. | 19,801 | 971,833 |
Umpqua Holdings Corp. | 43,100 | 719,770 |
United Bankshares, Inc. | 32,995 | 1,304,952 |
Valley National Bancorp | 234,900 | 2,466,450 |
Walter Investment Management Corp. *(a) | 39,800 | 476,008 |
Washington Federal, Inc. | 79,300 | 1,977,742 |
Webster Financial Corp. | 42,700 | 1,584,170 |
Westamerica Bancorp | 20,770 | 918,242 |
Wintrust Financial Corp. | 17,940 | 905,791 |
Zions Bancorp | 125,500 | 3,610,635 |
73,285,846 | ||
Capital Goods 12.0% | ||
A.O. Smith Corp. | 29,000 | 2,227,780 |
AAR Corp. | 63,480 | 1,440,361 |
Actuant Corp., Class A | 73,100 | 1,666,680 |
Acuity Brands, Inc. | 14,600 | 3,191,560 |
Aegion Corp. * | 51,915 | 1,001,440 |
Air Lease Corp. | 23,600 | 795,556 |
Aircastle Ltd. | 64,600 | 1,463,836 |
Alamo Group, Inc. | 6,700 | 314,364 |
Albany International Corp., Class A | 23,100 | 867,867 |
Allegion plc | 45,600 | 2,971,752 |
Allison Transmission Holdings, Inc. | 79,000 | 2,267,300 |
Apogee Enterprises, Inc. | 18,295 | 906,151 |
Applied Industrial Technologies, Inc. | 66,720 | 2,756,203 |
Astec Industries, Inc. | 23,250 | 755,625 |
AZZ, Inc. | 16,600 | 918,478 |
B/E Aerospace, Inc. | 43,400 | 2,037,630 |
Barnes Group, Inc. | 40,665 | 1,528,597 |
Beacon Roofing Supply, Inc. * | 58,080 | 2,055,451 |
Briggs & Stratton Corp. | 100,400 | 1,784,108 |
Security | Number of Shares | Value ($) |
BWX Technologies, Inc. | 99,700 | 2,821,510 |
Chart Industries, Inc. * | 32,410 | 557,128 |
CIRCOR International, Inc. | 15,890 | 729,669 |
CLARCOR, Inc. | 33,125 | 1,651,613 |
Colfax Corp. * | 23,900 | 644,344 |
Comfort Systems USA, Inc. | 49,900 | 1,593,307 |
Crane Co. | 40,500 | 2,131,920 |
Cubic Corp. | 24,390 | 1,093,892 |
Curtiss-Wright Corp. | 32,400 | 2,253,744 |
DigitalGlobe, Inc. * | 28,100 | 419,533 |
Donaldson Co., Inc. | 91,400 | 2,760,280 |
Dycom Industries, Inc. * | 27,170 | 2,067,365 |
Encore Wire Corp. | 41,240 | 1,763,835 |
EnerSys | 41,500 | 2,531,085 |
EnPro Industries, Inc. | 14,870 | 730,266 |
ESCO Technologies, Inc. | 24,300 | 901,287 |
Esterline Technologies Corp. * | 19,900 | 1,533,295 |
Franklin Electric Co., Inc. | 31,660 | 1,043,514 |
GATX Corp. | 52,200 | 2,437,740 |
Generac Holdings, Inc. *(a) | 61,900 | 1,953,564 |
General Cable Corp. | 223,200 | 3,435,048 |
Graco, Inc. | 24,140 | 1,771,876 |
Granite Construction, Inc. | 60,900 | 1,999,956 |
Griffon Corp. | 57,000 | 979,260 |
H&E Equipment Services, Inc. | 46,920 | 906,025 |
Harsco Corp. | 219,200 | 2,352,016 |
HD Supply Holdings, Inc. * | 19,700 | 586,863 |
HEICO Corp. | 18,912 | 953,921 |
Hexcel Corp. | 43,785 | 2,028,121 |
Hillenbrand, Inc. | 51,200 | 1,519,104 |
Huntington Ingalls Industries, Inc. | 24,800 | 2,974,512 |
Hyster-Yale Materials Handling, Inc. | 12,000 | 702,240 |
IDEX Corp. | 39,400 | 3,024,344 |
ITT Corp. | 42,700 | 1,690,066 |
Kaman Corp. | 29,380 | 1,142,588 |
KLX, Inc. * | 26,500 | 1,036,415 |
L.B. Foster Co., Class A | 15,700 | 231,261 |
Lennox International, Inc. | 29,800 | 3,957,738 |
Lindsay Corp. (a) | 9,200 | 623,576 |
Masco Corp. | 147,900 | 4,289,100 |
Masonite International Corp. * | 21,100 | 1,263,257 |
MasTec, Inc. * | 99,010 | 1,660,398 |
Moog, Inc., Class A * | 32,700 | 2,019,552 |
MRC Global, Inc. * | 252,000 | 2,998,800 |
MSC Industrial Direct Co., Inc., Class A | 42,600 | 2,674,002 |
Mueller Industries, Inc. | 91,800 | 2,893,536 |
MYR Group, Inc. * | 28,000 | 630,000 |
Navistar International Corp. * | 44,600 | 548,580 |
Nordson Corp. | 30,350 | 2,162,134 |
Orbital ATK, Inc. | 44,200 | 3,784,404 |
Primoris Services Corp. | 21,300 | 424,296 |
Quanex Building Products Corp. | 47,150 | 889,721 |
Raven Industries, Inc. | 41,630 | 758,082 |
RBC Bearings, Inc. * | 10,000 | 683,900 |
Regal Beloit Corp. | 44,200 | 2,819,518 |
Rexnord Corp. * | 50,700 | 936,936 |
Rush Enterprises, Inc., Class A * | 42,560 | 1,037,613 |
Simpson Manufacturing Co., Inc. | 34,785 | 1,321,134 |
Spirit AeroSystems Holdings, Inc., Class A * | 63,000 | 3,322,620 |
Standex International Corp. | 8,900 | 798,508 |
Security | Number of Shares | Value ($) |
TAL International Group, Inc. * | 50,190 | 851,222 |
Teledyne Technologies, Inc. * | 22,100 | 1,971,983 |
Tennant Co. | 13,680 | 792,346 |
Terex Corp. | 138,500 | 2,778,310 |
The Greenbrier Cos., Inc. (a) | 17,720 | 674,069 |
The Manitowoc Co., Inc. | 105,000 | 1,606,500 |
The Middleby Corp. * | 12,524 | 1,464,557 |
The Toro Co. | 41,620 | 3,132,738 |
Titan International, Inc. | 92,775 | 658,703 |
Titan Machinery, Inc. * | 22,500 | 275,175 |
TriMas Corp. * | 36,700 | 734,367 |
Triumph Group, Inc. | 52,900 | 2,464,082 |
Tutor Perini Corp. * | 104,100 | 1,746,798 |
Universal Forest Products, Inc. | 40,070 | 2,910,284 |
Valmont Industries, Inc. | 25,850 | 2,803,174 |
Veritiv Corp. * | 25,000 | 1,050,000 |
WABCO Holdings, Inc. * | 26,600 | 2,985,318 |
Wabtec Corp. | 29,620 | 2,454,609 |
Watsco, Inc. | 21,645 | 2,662,984 |
Watts Water Technologies, Inc., Class A | 27,755 | 1,510,982 |
Woodward, Inc. | 46,700 | 2,124,850 |
170,053,702 | ||
Commercial & Professional Supplies 5.0% | ||
ABM Industries, Inc. | 109,700 | 3,115,480 |
ACCO Brands Corp. * | 120,000 | 968,400 |
Brady Corp., Class A | 84,800 | 1,929,200 |
CEB, Inc. | 13,170 | 984,589 |
Civeo Corp. | 471,400 | 876,804 |
Clean Harbors, Inc. * | 36,930 | 1,716,876 |
Copart, Inc. * | 96,200 | 3,483,402 |
Covanta Holding Corp. | 111,000 | 1,860,360 |
Deluxe Corp. | 40,300 | 2,399,865 |
Essendant, Inc. | 86,000 | 2,973,020 |
FTI Consulting, Inc. * | 71,300 | 2,424,913 |
G&K Services, Inc., Class A | 19,290 | 1,269,668 |
Healthcare Services Group, Inc. | 47,655 | 1,775,625 |
Herman Miller, Inc. | 46,910 | 1,488,454 |
HNI Corp. | 40,100 | 1,721,894 |
Huron Consulting Group, Inc. * | 12,600 | 608,580 |
ICF International, Inc. * | 23,600 | 723,812 |
IHS, Inc., Class A * | 14,210 | 1,698,664 |
Insperity, Inc. | 23,660 | 1,099,244 |
Interface, Inc. | 46,885 | 916,602 |
KAR Auction Services, Inc. | 64,700 | 2,484,480 |
Kelly Services, Inc., Class A | 154,500 | 2,441,100 |
Kforce, Inc. | 40,900 | 1,149,699 |
Knoll, Inc. | 42,700 | 992,348 |
Korn/Ferry International | 30,130 | 1,095,828 |
Matthews International Corp., Class A | 28,615 | 1,651,944 |
McGrath RentCorp | 25,625 | 770,031 |
Mobile Mini, Inc. | 18,800 | 643,712 |
MSA Safety, Inc. | 24,725 | 1,075,043 |
Navigant Consulting, Inc. * | 70,525 | 1,213,030 |
On Assignment, Inc. * | 20,500 | 924,755 |
Quad Graphics, Inc. | 117,600 | 1,517,040 |
Resources Connection, Inc. | 65,660 | 1,178,597 |
Rollins, Inc. | 40,733 | 1,092,459 |
Steelcase, Inc., Class A | 122,900 | 2,385,489 |
Security | Number of Shares | Value ($) |
Stericycle, Inc. * | 21,100 | 2,560,907 |
Team, Inc. * | 17,700 | 619,500 |
Tetra Tech, Inc. | 74,395 | 2,001,226 |
The Brink's Co. | 90,700 | 2,809,886 |
TrueBlue, Inc. * | 51,130 | 1,481,236 |
UniFirst Corp. | 12,605 | 1,324,407 |
Viad Corp. | 36,165 | 1,088,928 |
Waste Connections, Inc. | 52,000 | 2,832,960 |
West Corp. | 40,400 | 961,924 |
70,331,981 | ||
Consumer Durables & Apparel 3.2% | ||
Arctic Cat, Inc. | 22,600 | 464,204 |
Brunswick Corp. | 23,400 | 1,259,154 |
Carter's, Inc. | 29,500 | 2,680,960 |
Columbia Sportswear Co. | 19,260 | 1,056,411 |
Crocs, Inc. * | 89,060 | 961,848 |
D.R. Horton, Inc. | 132,300 | 3,894,912 |
Deckers Outdoor Corp. * | 33,350 | 1,856,261 |
G-III Apparel Group Ltd. * | 19,700 | 1,085,273 |
Hanesbrands, Inc. | 104,600 | 3,340,924 |
Harman International Industries, Inc. | 32,300 | 3,551,708 |
Helen of Troy Ltd. * | 16,230 | 1,610,178 |
Iconix Brand Group, Inc. * | 51,100 | 782,852 |
La-Z-Boy, Inc. | 52,620 | 1,502,301 |
Lennar Corp., Class A | 44,600 | 2,233,122 |
lululemon athletica, Inc. * | 27,400 | 1,347,258 |
M.D.C. Holdings, Inc. | 42,900 | 1,114,971 |
Meritage Homes Corp. * | 18,800 | 662,888 |
Michael Kors Holdings Ltd. * | 50,000 | 1,932,000 |
Oxford Industries, Inc. | 11,100 | 808,302 |
PulteGroup, Inc. | 120,900 | 2,216,097 |
Skechers U.S.A., Inc., Class A * | 49,035 | 1,529,892 |
Smith & Wesson Holding Corp. * | 23,600 | 421,496 |
Steven Madden Ltd. * | 35,122 | 1,224,002 |
Sturm, Ruger & Co., Inc. | 17,300 | 985,062 |
Tempur Sealy International, Inc. * | 39,615 | 3,083,631 |
Toll Brothers, Inc. * | 38,600 | 1,388,442 |
Under Armour, Inc., Class A * | 20,360 | 1,935,829 |
Wolverine World Wide, Inc. | 54,480 | 1,011,694 |
45,941,672 | ||
Consumer Services 4.5% | ||
Ascent Capital Group, Inc., Class A * | 10,300 | 224,334 |
Bloomin' Brands, Inc. | 36,100 | 612,617 |
Bob Evans Farms, Inc. | 52,455 | 2,269,728 |
Boyd Gaming Corp. * | 69,800 | 1,395,302 |
Buffalo Wild Wings, Inc. * | 6,000 | 925,620 |
Caesars Entertainment Corp. * | 52,900 | 425,845 |
Capella Education Co. | 17,800 | 803,670 |
Career Education Corp. * | 439,200 | 1,585,512 |
Choice Hotels International, Inc. | 27,440 | 1,435,386 |
Churchill Downs, Inc. | 6,700 | 983,761 |
Cracker Barrel Old Country Store, Inc. (a) | 11,220 | 1,542,301 |
DineEquity, Inc. | 11,730 | 978,869 |
Domino's Pizza, Inc. | 17,100 | 1,824,057 |
Dunkin' Brands Group, Inc. | 34,900 | 1,445,209 |
Security | Number of Shares | Value ($) |
Grand Canyon Education, Inc. * | 8,600 | 357,416 |
Hilton Worldwide Holdings, Inc. | 77,800 | 1,944,222 |
Houghton Mifflin Harcourt Co. * | 47,600 | 932,484 |
Hyatt Hotels Corp., Class A * | 21,400 | 1,078,560 |
International Speedway Corp., Class A | 30,050 | 1,042,434 |
Jack in the Box, Inc. | 28,200 | 2,101,746 |
K12, Inc. * | 25,800 | 250,518 |
La Quinta Holdings, Inc. * | 16,500 | 249,975 |
Marriott Vacations Worldwide Corp. | 15,600 | 1,004,640 |
Norwegian Cruise Line Holdings Ltd. * | 26,000 | 1,654,120 |
Panera Bread Co., Class A * | 16,675 | 2,957,645 |
Papa John's International, Inc. | 16,020 | 1,124,123 |
Penn National Gaming, Inc. * | 88,200 | 1,575,252 |
Pinnacle Entertainment, Inc. * | 30,875 | 1,080,934 |
Red Robin Gourmet Burgers, Inc. * | 13,680 | 1,024,495 |
Regis Corp. * | 125,700 | 2,076,564 |
Ruby Tuesday, Inc. * | 176,550 | 923,357 |
SeaWorld Entertainment, Inc. | 138,900 | 2,768,277 |
Service Corp. International | 144,300 | 4,077,918 |
Six Flags Entertainment Corp. | 33,500 | 1,743,340 |
Sotheby's | 28,220 | 977,823 |
Steiner Leisure Ltd. * | 16,860 | 1,068,250 |
Strayer Education, Inc. * | 35,600 | 1,883,952 |
Texas Roadhouse, Inc. | 48,610 | 1,669,753 |
The Cheesecake Factory, Inc. | 53,435 | 2,575,567 |
The Wendy's Co. | 289,600 | 2,652,736 |
Vail Resorts, Inc. | 16,160 | 1,844,987 |
Weight Watchers International, Inc. *(a) | 292,192 | 4,493,913 |
63,587,212 | ||
Diversified Financials 3.8% | ||
Affiliated Managers Group, Inc. * | 11,300 | 2,036,938 |
BGC Partners, Inc., Class A | 99,500 | 860,675 |
Cash America International, Inc. | 63,505 | 2,192,827 |
CBOE Holdings, Inc. | 34,900 | 2,339,696 |
Credit Acceptance Corp. * | 2,100 | 397,089 |
E*TRADE Financial Corp. * | 126,500 | 3,606,515 |
Eaton Vance Corp. | 83,100 | 3,000,741 |
Evercore Partners, Inc., Class A | 7,100 | 383,400 |
Ezcorp, Inc., Class A * | 151,200 | 1,006,992 |
FactSet Research Systems, Inc. | 13,465 | 2,357,991 |
Federated Investors, Inc., Class B | 99,100 | 3,045,343 |
First Cash Financial Services, Inc. * | 20,590 | 785,508 |
Greenhill & Co., Inc. | 36,935 | 953,662 |
Intercontinental Exchange, Inc. | 12,400 | 3,129,760 |
Janus Capital Group, Inc. | 76,900 | 1,194,257 |
Lazard Ltd., Class A | 33,900 | 1,570,248 |
LPL Financial Holdings, Inc. (a) | 63,200 | 2,692,320 |
MarketAxess Holdings, Inc. | 3,500 | 354,585 |
Morningstar, Inc. | 10,300 | 845,733 |
MSCI, Inc. | 29,600 | 1,983,200 |
Nelnet, Inc., Class A | 22,440 | 802,903 |
PRA Group, Inc. * | 16,100 | 882,280 |
Raymond James Financial, Inc. | 48,900 | 2,694,879 |
Santander Consumer USA Holdings, Inc. * | 100,400 | 1,808,204 |
SEI Investments Co. | 68,300 | 3,539,306 |
Springleaf Holdings, Inc. * | 10,600 | 497,246 |
Security | Number of Shares | Value ($) |
Stifel Financial Corp. * | 19,060 | 846,836 |
Synchrony Financial *(a) | 45,700 | 1,405,732 |
TD Ameritrade Holding Corp. | 96,900 | 3,340,143 |
Waddell & Reed Financial, Inc., Class A | 64,300 | 2,375,242 |
World Acceptance Corp. *(a) | 26,760 | 1,020,359 |
53,950,610 | ||
Energy 5.2% | ||
Alon USA Energy, Inc. | 60,700 | 1,016,725 |
Atwood Oceanics, Inc. (a) | 78,600 | 1,300,830 |
Basic Energy Services, Inc. *(a) | 141,985 | 526,764 |
Bill Barrett Corp. * | 225,900 | 1,100,133 |
Bristow Group, Inc. | 42,900 | 1,489,917 |
Cabot Oil & Gas Corp. | 95,900 | 2,081,989 |
CARBO Ceramics, Inc. (a) | 40,080 | 702,202 |
Cloud Peak Energy, Inc. * | 345,500 | 1,026,135 |
Concho Resources, Inc. * | 27,100 | 3,141,161 |
Contango Oil & Gas Co. * | 29,400 | 224,910 |
Continental Resources, Inc. * | 21,600 | 732,456 |
CVR Energy, Inc. | 26,800 | 1,191,528 |
Dril-Quip, Inc. * | 19,785 | 1,217,964 |
Energy XXI Ltd. (a) | 727,200 | 1,258,056 |
Exterran Holdings, Inc. | 91,300 | 1,984,862 |
Forum Energy Technologies, Inc. * | 51,600 | 683,700 |
Frontline Ltd. *(a) | 896,300 | 2,832,308 |
Golar LNG Ltd. | 27,000 | 783,270 |
Green Plains, Inc. | 54,300 | 1,113,693 |
Gulfmark Offshore, Inc., Class A (a) | 67,805 | 423,103 |
Helix Energy Solutions Group, Inc. * | 148,800 | 860,064 |
Hornbeck Offshore Services, Inc. * | 43,780 | 591,468 |
Key Energy Services, Inc. * | 1,402,500 | 736,873 |
Matrix Service Co. * | 38,400 | 871,680 |
McDermott International, Inc. * | 784,600 | 3,617,006 |
Newpark Resources, Inc. * | 131,940 | 746,780 |
Nordic American Tankers Ltd. (a) | 67,285 | 1,028,115 |
North Atlantic Drilling Ltd. * | 856,300 | 706,876 |
Oasis Petroleum, Inc. * | 39,200 | 455,896 |
Oil States International, Inc. * | 78,800 | 2,364,788 |
Parker Drilling Co. * | 361,010 | 1,032,489 |
PBF Energy, Inc., Class A | 68,000 | 2,312,000 |
PDC Energy, Inc. * | 17,555 | 1,059,269 |
Pioneer Energy Services Corp. * | 211,700 | 489,027 |
Range Resources Corp. | 61,300 | 1,865,972 |
Renewable Energy Group, Inc. * | 50,900 | 401,601 |
Rowan Cos. plc, Class A | 162,900 | 3,205,872 |
RPC, Inc. | 76,700 | 846,001 |
SandRidge Energy, Inc. * | 1,606,000 | 594,702 |
SEACOR Holdings, Inc. * | 52,500 | 3,067,050 |
SemGroup Corp., Class A | 24,800 | 1,129,640 |
Seventy Seven Energy, Inc. *(a) | 304,400 | 347,016 |
Ship Finance International Ltd. (a) | 69,500 | 1,187,755 |
SM Energy Co. | 72,500 | 2,417,875 |
Stone Energy Corp. * | 169,100 | 945,269 |
Targa Resources Corp. | 27,100 | 1,548,765 |
Teekay Corp. | 46,300 | 1,487,619 |
Tesco Corp. | 40,000 | 320,000 |
TETRA Technologies, Inc. * | 178,060 | 1,200,124 |
Tidewater, Inc. (a) | 132,000 | 1,630,200 |
Unit Corp. * | 111,700 | 1,408,537 |
US Silica Holdings, Inc. (a) | 14,700 | 265,482 |
Security | Number of Shares | Value ($) |
W&T Offshore, Inc. (a) | 220,300 | 718,178 |
Western Refining, Inc. | 89,300 | 3,716,666 |
WPX Energy, Inc. * | 531,100 | 3,643,346 |
73,651,707 | ||
Food & Staples Retailing 0.9% | ||
Ingles Markets, Inc., Class A | 31,900 | 1,593,086 |
PriceSmart, Inc. | 13,740 | 1,181,365 |
Rite Aid Corp. * | 324,000 | 2,553,120 |
SpartanNash, Co. | 69,300 | 1,933,470 |
Sprouts Farmers Market, Inc. * | 17,500 | 356,650 |
SUPERVALU, Inc. * | 370,900 | 2,436,813 |
The Andersons, Inc. | 51,537 | 1,824,410 |
The Fresh Market, Inc. * | 34,700 | 864,724 |
12,743,638 | ||
Food, Beverage & Tobacco 2.6% | ||
B&G Foods, Inc. | 35,300 | 1,281,037 |
Cal-Maine Foods, Inc. (a) | 23,400 | 1,250,964 |
Darling Ingredients, Inc. * | 124,520 | 1,260,142 |
Dean Foods Co. | 87,500 | 1,584,625 |
Flowers Foods, Inc. | 135,250 | 3,651,750 |
Fresh Del Monte Produce, Inc. | 75,900 | 3,463,317 |
J&J Snack Foods Corp. | 10,035 | 1,232,198 |
Keurig Green Mountain, Inc. | 31,980 | 1,622,985 |
Lancaster Colony Corp. | 18,965 | 2,156,700 |
Pilgrim's Pride Corp. (a) | 40,400 | 767,196 |
Pinnacle Foods, Inc. | 32,600 | 1,437,008 |
Post Holdings, Inc. * | 27,300 | 1,754,571 |
Sanderson Farms, Inc. (a) | 29,000 | 2,015,790 |
Seaboard Corp. * | 422 | 1,421,296 |
Snyder's-Lance, Inc. | 43,160 | 1,533,906 |
The Boston Beer Co., Inc., Class A * | 1,600 | 351,344 |
The Hain Celestial Group, Inc. * | 21,740 | 1,083,739 |
The WhiteWave Foods Co. * | 42,200 | 1,729,356 |
TreeHouse Foods, Inc. * | 24,985 | 2,139,716 |
Universal Corp. | 71,000 | 3,834,710 |
Vector Group Ltd. | 56,989 | 1,381,983 |
36,954,333 | ||
Health Care Equipment & Services 4.6% | ||
Air Methods Corp. * | 22,900 | 937,297 |
Alere, Inc. * | 43,400 | 2,001,608 |
Align Technology, Inc. * | 13,800 | 903,348 |
Allscripts Healthcare Solutions, Inc. * | 192,800 | 2,710,768 |
Amedisys, Inc. * | 42,370 | 1,677,005 |
Amsurg Corp. * | 20,825 | 1,459,624 |
Analogic Corp. | 10,565 | 925,705 |
Brookdale Senior Living, Inc. * | 58,600 | 1,225,326 |
Chemed Corp. | 19,295 | 3,034,911 |
CONMED Corp. | 18,895 | 766,381 |
Edwards Lifesciences Corp. * | 20,200 | 3,174,430 |
Envision Healthcare Holdings, Inc. * | 42,300 | 1,192,860 |
Greatbatch, Inc. * | 15,500 | 828,475 |
Haemonetics Corp. * | 31,300 | 1,057,314 |
Halyard Health, Inc. * | 36,900 | 1,095,192 |
Hanger, Inc. * | 44,600 | 643,132 |
HealthSouth Corp. | 42,400 | 1,476,792 |
Hill-Rom Holdings, Inc. | 47,100 | 2,481,699 |
Security | Number of Shares | Value ($) |
IDEXX Laboratories, Inc. * | 42,600 | 2,923,212 |
IMS Health Holdings, Inc. * | 15,900 | 432,798 |
Integra LifeSciences Holdings Corp. * | 13,220 | 787,515 |
Invacare Corp. | 84,865 | 1,466,467 |
Kindred Healthcare, Inc. | 142,422 | 1,908,455 |
LivaNova plc * | 21,400 | 1,418,392 |
Masimo Corp. * | 32,900 | 1,305,472 |
MedAssets, Inc. * | 15,000 | 355,200 |
MEDNAX, Inc. * | 39,300 | 2,769,471 |
Meridian Bioscience, Inc. | 17,900 | 340,279 |
Molina Healthcare, Inc. * | 30,657 | 1,900,734 |
Orthofix International N.V. * | 24,500 | 834,225 |
PharMerica Corp. * | 58,640 | 1,675,345 |
Quality Systems, Inc. | 59,700 | 838,785 |
Select Medical Holdings Corp. | 130,400 | 1,473,520 |
Sirona Dental Systems, Inc. * | 17,890 | 1,952,336 |
STERIS Corp. (a) | 52,300 | 3,919,885 |
Team Health Holdings, Inc. * | 12,900 | 769,743 |
Teleflex, Inc. | 21,100 | 2,806,300 |
The Cooper Cos., Inc. | 14,100 | 2,148,276 |
Triple-S Management Corp., Class B * | 65,000 | 1,338,350 |
VCA, Inc. * | 39,100 | 2,141,507 |
West Pharmaceutical Services, Inc. | 29,780 | 1,787,098 |
64,885,232 | ||
Household & Personal Products 0.4% | ||
Elizabeth Arden, Inc. *(a) | 65,770 | 824,756 |
Nu Skin Enterprises, Inc., Class A | 66,320 | 2,534,087 |
Spectrum Brands Holdings, Inc. | 10,700 | 1,025,595 |
WD-40 Co. | 10,415 | 995,466 |
5,379,904 | ||
Insurance 4.0% | ||
Allied World Assurance Co. Holdings AG | 81,500 | 2,963,340 |
Ambac Financial Group, Inc. * | 54,400 | 878,560 |
American Equity Investment Life Holding Co. | 58,515 | 1,502,665 |
AmTrust Financial Services, Inc. | 4,900 | 334,278 |
Argo Group International Holdings Ltd. | 27,564 | 1,723,301 |
Aspen Insurance Holdings Ltd. | 73,200 | 3,558,252 |
Assured Guaranty Ltd. | 110,000 | 3,018,400 |
Brown & Brown, Inc. | 67,100 | 2,165,317 |
CNA Financial Corp. | 8,100 | 296,136 |
CNO Financial Group, Inc. | 200,500 | 3,851,605 |
Employers Holdings, Inc. | 46,700 | 1,236,149 |
Endurance Specialty Holdings Ltd. | 67,696 | 4,273,648 |
Horace Mann Educators Corp. | 28,590 | 978,922 |
Infinity Property & Casualty Corp. | 15,865 | 1,277,450 |
Kemper Corp. | 78,400 | 2,800,448 |
Maiden Holdings Ltd. | 21,000 | 326,550 |
Markel Corp. * | 3,582 | 3,109,176 |
MBIA, Inc. * | 123,200 | 925,232 |
Mercury General Corp. | 35,600 | 1,922,756 |
Primerica, Inc. | 73,800 | 3,515,094 |
ProAssurance Corp. | 46,100 | 2,441,456 |
RLI Corp. | 37,500 | 2,281,875 |
Security | Number of Shares | Value ($) |
Safety Insurance Group, Inc. | 16,005 | 927,490 |
Selective Insurance Group, Inc. | 40,500 | 1,477,845 |
StanCorp Financial Group, Inc. | 34,200 | 3,923,424 |
Stewart Information Services Corp. | 29,000 | 1,164,930 |
Symetra Financial Corp. | 41,000 | 1,300,930 |
The Hanover Insurance Group, Inc. | 37,400 | 3,150,950 |
57,326,179 | ||
Materials 5.5% | ||
A. Schulman, Inc. | 45,133 | 1,619,823 |
Axalta Coating Systems Ltd. * | 14,300 | 395,109 |
Axiall Corp. | 72,624 | 1,470,636 |
Berry Plastics Group, Inc. * | 46,700 | 1,564,450 |
Boise Cascade Co. * | 34,400 | 1,029,592 |
Cabot Corp. | 84,700 | 3,044,118 |
Calgon Carbon Corp. | 39,200 | 674,240 |
Carpenter Technology Corp. | 50,300 | 1,675,493 |
Century Aluminum Co. * | 65,800 | 238,196 |
Chemtura Corp. * | 90,100 | 2,877,794 |
Clearwater Paper Corp. * | 26,460 | 1,334,378 |
Coeur Mining, Inc. * | 308,000 | 831,600 |
Compass Minerals International, Inc. | 23,730 | 1,927,825 |
Crown Holdings, Inc. * | 71,800 | 3,808,272 |
Eagle Materials, Inc. | 12,070 | 796,982 |
Ferro Corp. * | 69,930 | 873,426 |
Globe Specialty Metals, Inc. | 37,200 | 469,464 |
Greif, Inc., Class A | 65,300 | 2,140,534 |
H.B. Fuller Co. | 46,580 | 1,769,574 |
Hecla Mining Co. | 327,300 | 677,511 |
Innophos Holdings, Inc. | 27,350 | 1,162,101 |
Innospec, Inc. | 21,080 | 1,164,459 |
Intrepid Potash, Inc. * | 72,500 | 279,850 |
Kaiser Aluminum Corp. | 23,380 | 1,900,560 |
KapStone Paper & Packaging Corp. | 42,400 | 922,200 |
Koppers Holdings, Inc. | 46,560 | 882,778 |
Kraton Performance Polymers, Inc. * | 59,200 | 1,207,088 |
Louisiana-Pacific Corp. * | 63,000 | 1,112,580 |
LSB Industries, Inc. * | 21,400 | 334,910 |
Martin Marietta Materials, Inc. | 22,200 | 3,444,330 |
Materion Corp. | 30,760 | 927,414 |
Minerals Technologies, Inc. | 25,620 | 1,510,043 |
Myers Industries, Inc. | 39,005 | 608,868 |
Neenah Paper, Inc. | 6,100 | 411,201 |
NewMarket Corp. | 5,895 | 2,321,097 |
Olin Corp. | 105,600 | 2,025,408 |
P.H. Glatfelter Co. | 73,845 | 1,432,593 |
PolyOne Corp. | 54,500 | 1,822,480 |
Quaker Chemical Corp. | 9,600 | 762,048 |
Royal Gold, Inc. | 7,400 | 354,016 |
Schnitzer Steel Industries, Inc., Class A | 165,310 | 2,787,127 |
Schweitzer-Mauduit International, Inc. | 28,972 | 1,124,693 |
Sealed Air Corp. | 93,000 | 4,568,160 |
Sensient Technologies Corp. | 36,800 | 2,401,936 |
Silgan Holdings, Inc. | 48,500 | 2,467,195 |
Stepan Co. | 32,730 | 1,732,399 |
Stillwater Mining Co. * | 66,570 | 621,764 |
Security | Number of Shares | Value ($) |
SunCoke Energy, Inc. | 83,500 | 414,160 |
The Scotts Miracle-Gro Co., Class A | 38,300 | 2,533,928 |
Tronox Ltd., Class A | 110,900 | 688,689 |
W.R. Grace & Co. * | 18,400 | 1,845,520 |
Westlake Chemical Corp. | 25,100 | 1,512,777 |
Worthington Industries, Inc. | 71,900 | 2,207,330 |
78,710,719 | ||
Media 1.8% | ||
AMC Networks, Inc., Class A * | 16,800 | 1,241,352 |
Cinemark Holdings, Inc. | 89,300 | 3,164,792 |
DreamWorks Animation SKG, Inc., Class A * | 69,300 | 1,402,632 |
John Wiley & Sons, Inc., Class A | 35,500 | 1,857,715 |
Liberty Broadband Corp., Class A * | 900 | 49,104 |
Liberty Broadband Corp., Class C * | 6,200 | 333,374 |
Lions Gate Entertainment Corp. | 27,100 | 1,056,087 |
Live Nation Entertainment, Inc. * | 79,500 | 2,168,760 |
Loral Space & Communications, Inc. * | 23,000 | 1,028,330 |
Meredith Corp. | 35,200 | 1,655,104 |
MSG Networks, Inc., Class A * | 16,800 | 344,736 |
National CineMedia, Inc. | 73,100 | 1,038,020 |
Regal Entertainment Group, Class A | 102,700 | 1,990,326 |
Scholastic Corp. | 52,800 | 2,157,936 |
Sinclair Broadcast Group, Inc., Class A | 39,919 | 1,197,969 |
Sirius XM Holdings, Inc. * | 679,900 | 2,773,992 |
Starz, Class A * | 14,600 | 489,246 |
The New York Times Co., Class A | 116,800 | 1,551,104 |
Tribune Media Co., Class A | 15,800 | 637,214 |
26,137,793 | ||
Pharmaceuticals, Biotechnology & Life Sciences 2.0% | ||
Alexion Pharmaceuticals, Inc. * | 9,200 | 1,619,200 |
Bio-Rad Laboratories, Inc., Class A * | 15,100 | 2,106,148 |
Bio-Techne Corp. | 16,065 | 1,416,933 |
Bruker Corp. * | 49,700 | 912,989 |
Charles River Laboratories International, Inc. * | 39,400 | 2,570,456 |
Endo International plc * | 39,100 | 2,345,609 |
Illumina, Inc. * | 9,560 | 1,369,757 |
Impax Laboratories, Inc. * | 28,900 | 1,000,807 |
Jazz Pharmaceuticals plc * | 2,600 | 356,928 |
Mallinckrodt plc * | 26,821 | 1,761,335 |
Myriad Genetics, Inc. *(a) | 39,300 | 1,586,541 |
PAREXEL International Corp. * | 19,320 | 1,219,478 |
PDL BioPharma, Inc. | 256,150 | 1,173,167 |
PerkinElmer, Inc. | 60,300 | 3,113,892 |
Prestige Brands Holdings, Inc. * | 6,800 | 333,268 |
QIAGEN N.V. * | 84,000 | 2,030,280 |
Quintiles Transnational Holdings, Inc. * | 25,300 | 1,610,345 |
Regeneron Pharmaceuticals, Inc. * | 1,000 | 557,390 |
United Therapeutics Corp. * | 8,800 | 1,290,344 |
28,374,867 |
Security | Number of Shares | Value ($) |
Real Estate 9.9% | ||
Alexandria Real Estate Equities, Inc. | 25,900 | 2,324,266 |
Altisource Portfolio Solutions S.A. * | 11,300 | 302,953 |
American Campus Communities, Inc. | 40,260 | 1,633,348 |
Anworth Mortgage Asset Corp. | 208,455 | 994,330 |
Apartment Investment & Management Co., Class A | 75,500 | 2,958,845 |
BioMed Realty Trust, Inc. | 94,700 | 2,216,927 |
Brandywine Realty Trust | 125,100 | 1,688,850 |
Brixmor Property Group, Inc. | 31,100 | 796,782 |
Camden Property Trust | 37,900 | 2,796,641 |
Capstead Mortgage Corp. | 108,350 | 1,045,577 |
CBL & Associates Properties, Inc. | 127,200 | 1,854,576 |
CBRE Group, Inc., Class A * | 86,100 | 3,209,808 |
Chambers Street Properties | 48,600 | 344,088 |
Chimera Investment Corp. | 132,400 | 1,864,192 |
Columbia Property Trust, Inc. | 106,100 | 2,635,524 |
Corporate Office Properties Trust | 67,400 | 1,550,200 |
CubeSmart | 14,200 | 395,044 |
DCT Industrial Trust, Inc. | 34,650 | 1,286,208 |
DDR Corp. | 107,600 | 1,807,680 |
DiamondRock Hospitality Co. | 98,700 | 1,152,816 |
Douglas Emmett, Inc. | 60,900 | 1,860,495 |
Duke Realty Corp. | 159,300 | 3,297,510 |
DuPont Fabros Technology, Inc. | 12,300 | 394,707 |
EastGroup Properties, Inc. | 14,650 | 822,744 |
EPR Properties | 28,300 | 1,607,723 |
Equinix, Inc. | 10,307 | 3,057,881 |
Equity Commonwealth * | 109,200 | 3,135,132 |
Equity LifeStyle Properties, Inc. | 21,540 | 1,302,739 |
Equity One, Inc. | 25,300 | 672,474 |
Essex Property Trust, Inc. | 10,709 | 2,360,692 |
Extra Space Storage, Inc. | 19,865 | 1,574,103 |
Federal Realty Investment Trust | 21,200 | 3,041,988 |
Forest City Enterprises, Inc., Class A * | 15,700 | 346,970 |
Franklin Street Properties Corp. | 60,100 | 626,242 |
Government Properties Income Trust | 37,300 | 607,244 |
Hatteras Financial Corp. | 94,700 | 1,355,157 |
Healthcare Realty Trust, Inc. | 55,100 | 1,452,436 |
Healthcare Trust of America, Inc., Class A | 38,100 | 1,002,411 |
Hersha Hospitality Trust | 25,625 | 615,256 |
Highwoods Properties, Inc. | 47,600 | 2,068,220 |
HomeBanc Corp. *(b)(c) | 6,875 | — |
Invesco Mortgage Capital, Inc. | 104,400 | 1,258,020 |
Investors Real Estate Trust | 92,300 | 749,476 |
Jones Lang LaSalle, Inc. | 21,900 | 3,650,949 |
Kilroy Realty Corp. | 22,100 | 1,455,064 |
Lamar Advertising Co., Class A | 33,600 | 1,896,048 |
LaSalle Hotel Properties | 39,140 | 1,151,107 |
Lexington Realty Trust | 137,100 | 1,211,964 |
Liberty Property Trust | 100,300 | 3,412,206 |
Mack-Cali Realty Corp. | 150,300 | 3,270,528 |
Medical Properties Trust, Inc. | 57,800 | 653,140 |
MFA Financial, Inc. | 318,200 | 2,201,944 |
Mid-America Apartment Communities, Inc. | 23,221 | 1,978,197 |
Security | Number of Shares | Value ($) |
National Retail Properties, Inc. | 41,000 | 1,558,000 |
New Residential Investment Corp. | 51,500 | 624,695 |
NorthStar Realty Finance Corp. | 64,666 | 776,639 |
Omega Healthcare Investors, Inc. | 40,490 | 1,397,715 |
Outfront Media, Inc. | 54,200 | 1,279,662 |
Pennsylvania Real Estate Investment Trust | 45,200 | 1,016,096 |
PennyMac Mortgage Investment Trust | 61,500 | 899,130 |
Piedmont Office Realty Trust, Inc., Class A | 174,900 | 3,389,562 |
Post Properties, Inc. | 17,920 | 1,070,541 |
Potlatch Corp. | 33,000 | 1,030,920 |
PS Business Parks, Inc. | 10,250 | 879,348 |
Rayonier, Inc. | 148,400 | 3,361,260 |
Realogy Holdings Corp. * | 34,700 | 1,356,770 |
Realty Income Corp. | 48,300 | 2,388,918 |
Redwood Trust, Inc. | 75,700 | 1,005,296 |
Regency Centers Corp. | 38,200 | 2,596,072 |
Retail Properties of America, Inc., Class A | 141,500 | 2,118,255 |
RLJ Lodging Trust | 45,500 | 1,141,595 |
Ryman Hospitality Properties, Inc. | 21,300 | 1,120,380 |
Sabra Health Care REIT, Inc. | 41,100 | 932,148 |
Senior Housing Properties Trust | 130,900 | 1,988,371 |
SL Green Realty Corp. | 22,200 | 2,633,364 |
Sovran Self Storage, Inc. | 11,170 | 1,115,548 |
Spirit Realty Capital, Inc. | 42,600 | 433,668 |
Starwood Property Trust, Inc. | 58,300 | 1,171,247 |
Sun Communities, Inc. | 14,355 | 962,072 |
Sunstone Hotel Investors, Inc. | 62,027 | 896,910 |
Tanger Factory Outlet Centers, Inc. | 36,580 | 1,278,471 |
Taubman Centers, Inc. | 23,700 | 1,824,426 |
The Geo Group, Inc. | 47,036 | 1,517,852 |
Two Harbors Investment Corp. | 109,500 | 926,370 |
UDR, Inc. | 94,300 | 3,249,578 |
Washington Real Estate Investment Trust | 53,000 | 1,431,530 |
Weingarten Realty Investors | 70,500 | 2,521,080 |
Western Asset Mortgage Capital Corp. (a) | 24,300 | 277,506 |
WP Carey, Inc. | 22,700 | 1,438,499 |
140,558,916 | ||
Retailing 5.3% | ||
Asbury Automotive Group, Inc. * | 24,300 | 1,924,560 |
Ascena Retail Group, Inc. * | 230,500 | 3,070,260 |
Barnes & Noble, Inc. | 101,300 | 1,315,887 |
Burlington Stores, Inc. * | 41,200 | 1,980,896 |
Cabela's, Inc. * | 25,200 | 987,084 |
Caleres, Inc. | 57,242 | 1,749,315 |
Citi Trends, Inc. | 13,000 | 345,410 |
Conn's, Inc. *(a) | 10,100 | 191,597 |
DSW, Inc., Class A | 72,836 | 1,816,530 |
Express, Inc. * | 127,800 | 2,466,540 |
Five Below, Inc. * | 24,400 | 837,896 |
Fred's, Inc., Class A | 134,970 | 1,866,635 |
Genesco, Inc. * | 35,400 | 2,217,810 |
GNC Holdings, Inc., Class A | 71,700 | 2,133,075 |
Group 1 Automotive, Inc. | 39,100 | 3,399,745 |
Haverty Furniture Cos., Inc. | 15,400 | 360,514 |
Security | Number of Shares | Value ($) |
Hibbett Sports, Inc. * | 26,185 | 894,480 |
HSN, Inc. | 30,300 | 1,874,055 |
Lands' End, Inc. *(a) | 17,300 | 426,964 |
Liberty TripAdvisor Holdings, Inc., Class A * | 15,300 | 477,207 |
Lithia Motors, Inc., Class A | 13,435 | 1,577,135 |
Lumber Liquidators Holdings, Inc. * | 38,000 | 525,160 |
Monro Muffler Brake, Inc. | 15,940 | 1,182,270 |
Netflix, Inc. * | 37,840 | 4,101,099 |
Nutrisystem, Inc. | 44,330 | 1,025,353 |
Outerwall, Inc. | 34,025 | 2,041,500 |
Penske Automotive Group, Inc. | 50,000 | 2,442,000 |
Pier 1 Imports, Inc. | 168,585 | 1,250,901 |
Pool Corp. | 27,780 | 2,265,181 |
Restoration Hardware Holdings, Inc. * | 3,600 | 371,124 |
Sally Beauty Holdings, Inc. * | 76,865 | 1,807,096 |
Sears Holdings Corp. *(a) | 131,900 | 3,082,503 |
Select Comfort Corp. * | 29,470 | 624,764 |
Shutterfly, Inc. * | 8,000 | 333,680 |
Sonic Automotive, Inc., Class A | 87,200 | 2,174,768 |
Stage Stores, Inc. | 106,455 | 1,035,807 |
Stein Mart, Inc. | 62,700 | 555,522 |
The Buckle, Inc. | 43,522 | 1,542,420 |
The Cato Corp., Class A | 39,495 | 1,491,331 |
The Children's Place, Inc. | 41,960 | 2,251,993 |
The Finish Line, Inc., Class A | 84,152 | 1,567,752 |
The Men's Wearhouse, Inc. | 67,900 | 2,714,642 |
The Michaels Cos., Inc. * | 11,700 | 273,546 |
The Pep Boys - Manny, Moe & Jack * | 139,015 | 2,090,785 |
Travelport Worldwide Ltd. | 44,900 | 608,395 |
TripAdvisor, Inc. * | 13,700 | 1,147,786 |
Tuesday Morning Corp. * | 61,900 | 334,879 |
Ulta Salon, Cosmetics & Fragrance, Inc. * | 15,900 | 2,765,964 |
Vitamin Shoppe, Inc. * | 26,500 | 760,285 |
Zumiez, Inc. * | 16,000 | 279,680 |
74,561,781 | ||
Semiconductors & Semiconductor Equipment 3.0% | ||
Advanced Micro Devices, Inc. *(a) | 1,098,700 | 2,329,244 |
Amkor Technology, Inc. * | 189,700 | 1,179,934 |
Atmel Corp. | 370,300 | 2,814,280 |
Brooks Automation, Inc. | 70,090 | 773,794 |
Cabot Microelectronics Corp. * | 30,830 | 1,300,101 |
Cirrus Logic, Inc. * | 46,335 | 1,428,508 |
Cree, Inc. * | 59,500 | 1,498,805 |
Cypress Semiconductor Corp. * | 195,103 | 2,056,386 |
Diodes, Inc. * | 28,600 | 654,940 |
Entegris, Inc. * | 85,745 | 1,100,108 |
Fairchild Semiconductor International, Inc. * | 134,100 | 2,236,788 |
First Solar, Inc. * | 62,200 | 3,549,754 |
Freescale Semiconductor Ltd. * | 24,900 | 833,901 |
Integrated Device Technology, Inc. * | 52,980 | 1,350,990 |
Intersil Corp., Class A | 137,400 | 1,861,770 |
Microsemi Corp. * | 30,945 | 1,114,329 |
MKS Instruments, Inc. | 40,550 | 1,428,982 |
OmniVision Technologies, Inc. * | 41,680 | 1,203,302 |
ON Semiconductor Corp. * | 250,800 | 2,758,800 |
Security | Number of Shares | Value ($) |
Photronics, Inc. * | 96,025 | 920,880 |
PMC-Sierra, Inc. * | 132,725 | 1,582,082 |
Silicon Laboratories, Inc. * | 34,390 | 1,718,468 |
Skyworks Solutions, Inc. | 28,400 | 2,193,616 |
Synaptics, Inc. * | 14,605 | 1,242,739 |
Teradyne, Inc. | 117,700 | 2,297,504 |
Veeco Instruments, Inc. * | 37,660 | 678,633 |
42,108,638 | ||
Software & Services 5.5% | ||
ACI Worldwide, Inc. * | 33,800 | 809,510 |
Acxiom Corp. * | 92,215 | 2,039,796 |
ANSYS, Inc. * | 19,800 | 1,887,138 |
AVG Technologies N.V. * | 18,100 | 428,970 |
Cadence Design Systems, Inc. * | 54,100 | 1,202,102 |
Cardtronics, Inc. * | 9,400 | 324,300 |
Cimpress N.V. *(a) | 19,920 | 1,571,688 |
Convergys Corp. | 153,300 | 3,935,211 |
CSG Systems International, Inc. | 33,845 | 1,134,484 |
EarthLink Holdings Corp. | 331,375 | 2,833,256 |
Euronet Worldwide, Inc. * | 18,295 | 1,467,991 |
Everi Holdings, Inc. * | 98,135 | 459,272 |
Fair Isaac Corp. | 22,105 | 2,041,839 |
FleetCor Technologies, Inc. * | 7,400 | 1,071,964 |
Gartner, Inc. * | 23,700 | 2,148,879 |
Genpact Ltd. * | 101,450 | 2,513,931 |
Heartland Payment Systems, Inc. | 24,665 | 1,825,210 |
j2 Global, Inc. | 16,085 | 1,247,392 |
Jack Henry & Associates, Inc. | 33,180 | 2,566,141 |
LinkedIn Corp., Class A * | 2,100 | 505,827 |
Manhattan Associates, Inc. * | 19,080 | 1,389,978 |
ManTech International Corp., Class A | 64,600 | 1,866,940 |
MAXIMUS, Inc. | 29,080 | 1,983,256 |
Mentor Graphics Corp. | 44,420 | 1,208,224 |
Monster Worldwide, Inc. * | 288,600 | 1,809,522 |
NeuStar, Inc., Class A *(a) | 91,975 | 2,500,800 |
Nuance Communications, Inc. * | 92,200 | 1,564,634 |
Progress Software Corp. * | 58,825 | 1,428,271 |
PTC, Inc. * | 40,340 | 1,429,650 |
Rackspace Hosting, Inc. * | 38,620 | 998,327 |
Red Hat, Inc. * | 30,600 | 2,420,766 |
Rovi Corp. * | 67,969 | 621,916 |
salesforce.com, Inc. * | 30,933 | 2,403,803 |
Science Applications International Corp. | 72,400 | 3,320,264 |
Solera Holdings, Inc. | 27,860 | 1,522,828 |
SS&C Technologies Holdings, Inc. | 5,400 | 400,410 |
Sykes Enterprises, Inc. * | 52,955 | 1,535,695 |
Synopsys, Inc. * | 51,600 | 2,578,968 |
Take-Two Interactive Software, Inc. * | 64,055 | 2,126,626 |
Unisys Corp. * | 94,800 | 1,270,320 |
United Online, Inc. * | 43,100 | 503,408 |
Vantiv, Inc., Class A * | 29,700 | 1,489,455 |
VeriFone Systems, Inc. * | 34,500 | 1,039,830 |
Verint Systems, Inc. * | 6,700 | 318,786 |
VeriSign, Inc. * | 52,900 | 4,263,740 |
VMware, Inc., Class A * | 12,500 | 751,875 |
WebMD Health Corp. * | 35,400 | 1,439,364 |
Security | Number of Shares | Value ($) |
WEX, Inc. * | 9,700 | 872,127 |
Zynga, Inc., Class A * | 125,700 | 297,909 |
77,372,593 | ||
Technology Hardware & Equipment 4.9% | ||
ADTRAN, Inc. | 83,245 | 1,292,795 |
ARRIS Group, Inc. * | 54,605 | 1,543,137 |
AVX Corp. | 26,800 | 361,800 |
Belden, Inc. | 24,440 | 1,564,893 |
Benchmark Electronics, Inc. * | 119,900 | 2,371,622 |
Brocade Communications Systems, Inc. | 279,400 | 2,911,348 |
CDW Corp. | 43,000 | 1,921,670 |
Cognex Corp. | 18,330 | 689,208 |
Coherent, Inc. * | 23,540 | 1,275,868 |
CommScope Holding Co., Inc. * | 53,200 | 1,725,276 |
Comtech Telecommunications Corp. | 53,670 | 1,296,667 |
Diebold, Inc. | 85,400 | 3,148,698 |
Dolby Laboratories, Inc., Class A | 44,800 | 1,553,216 |
EchoStar Corp., Class A * | 28,900 | 1,295,587 |
Electronics for Imaging, Inc. * | 22,902 | 1,063,569 |
F5 Networks, Inc. * | 27,040 | 2,979,808 |
Fabrinet * | 39,100 | 847,297 |
FEI Co. | 13,320 | 961,571 |
Finisar Corp. * | 69,830 | 793,967 |
Harmonic, Inc. * | 59,600 | 343,296 |
II-VI, Inc. * | 18,900 | 342,468 |
Insight Enterprises, Inc. * | 118,900 | 3,020,060 |
InterDigital, Inc. | 27,300 | 1,385,202 |
IPG Photonics Corp. * | 3,900 | 322,218 |
Itron, Inc. * | 56,100 | 2,060,553 |
Knowles Corp. *(a) | 82,100 | 1,367,786 |
Littelfuse, Inc. | 11,045 | 1,103,727 |
Methode Electronics, Inc. | 9,400 | 313,302 |
MTS Systems Corp. | 12,180 | 804,245 |
National Instruments Corp. | 51,842 | 1,579,626 |
NCR Corp. * | 114,900 | 3,056,340 |
NETGEAR, Inc. * | 40,050 | 1,658,070 |
OSI Systems, Inc. * | 11,200 | 965,216 |
Plantronics, Inc. | 26,810 | 1,437,552 |
Plexus Corp. * | 58,480 | 2,024,578 |
Polycom, Inc. * | 196,840 | 2,712,455 |
QLogic Corp. * | 184,680 | 2,290,032 |
Rofin-Sinar Technologies, Inc. * | 34,210 | 990,722 |
Sanmina Corp. * | 150,900 | 3,119,103 |
ScanSource, Inc. * | 55,440 | 1,913,235 |
Super Micro Computer, Inc. * | 10,500 | 296,205 |
Trimble Navigation Ltd. * | 93,500 | 2,127,125 |
TTM Technologies, Inc. * | 91,900 | 670,870 |
ViaSat, Inc. * | 13,915 | 917,833 |
Viavi Solutions, Inc. * | 151,500 | 901,425 |
Zebra Technologies Corp., Class A * | 28,820 | 2,216,258 |
69,537,499 | ||
Telecommunication Services 1.2% | ||
Cincinnati Bell, Inc. * | 479,200 | 1,806,584 |
Consolidated Communications Holdings, Inc. | 50,014 | 1,105,309 |
Security | Number of Shares | Value ($) |
General Communication, Inc., Class A * | 20,600 | 419,519 |
Inteliquent, Inc. | 42,500 | 880,600 |
Intelsat S.A. *(a) | 98,700 | 653,394 |
Iridium Communications, Inc. * | 43,900 | 360,419 |
Level 3 Communications, Inc. * | 63,230 | 3,221,569 |
NTELOS Holdings Corp. * | 124,720 | 1,146,177 |
SBA Communications Corp., Class A * | 20,905 | 2,488,113 |
T-Mobile US, Inc. * | 72,300 | 2,739,447 |
Vonage Holdings Corp. * | 222,600 | 1,351,182 |
Zayo Group Holdings, Inc. * | 13,000 | 344,890 |
16,517,203 | ||
Transportation 3.1% | ||
Allegiant Travel Co. | 6,100 | 1,204,445 |
AMERCO | 3,600 | 1,462,716 |
American Airlines Group, Inc. | 73,100 | 3,378,682 |
ArcBest Corp. | 37,640 | 974,876 |
Atlas Air Worldwide Holdings, Inc. * | 33,100 | 1,365,044 |
Copa Holdings S.A., Class A (a) | 32,100 | 1,621,692 |
Forward Air Corp. | 19,825 | 899,262 |
Genesee & Wyoming, Inc., Class A * | 14,165 | 950,472 |
Hawaiian Holdings, Inc. * | 33,740 | 1,170,778 |
Heartland Express, Inc. | 42,665 | 803,382 |
Hub Group, Inc., Class A * | 51,510 | 2,059,370 |
Kirby Corp. * | 32,500 | 2,121,925 |
Knight Transportation, Inc. | 49,525 | 1,258,925 |
Landstar System, Inc. | 40,770 | 2,570,141 |
Macquarie Infrastructure Corp. | 7,700 | 612,535 |
Marten Transport Ltd. | 15,200 | 249,128 |
Matson, Inc. | 29,500 | 1,351,985 |
Navios Maritime Holdings, Inc. | 306,300 | 646,293 |
Old Dominion Freight Line, Inc. * | 24,475 | 1,515,981 |
Republic Airways Holdings, Inc. * | 202,700 | 1,167,552 |
Saia, Inc. * | 20,450 | 482,825 |
SkyWest, Inc. | 216,900 | 4,129,776 |
Southwest Airlines Co. | 76,600 | 3,545,814 |
Spirit Airlines, Inc. * | 21,000 | 779,520 |
Swift Transportation Co. * | 53,400 | 834,642 |
United Continental Holdings, Inc. * | 40,200 | 2,424,462 |
UTi Worldwide, Inc. * | 254,700 | 1,816,011 |
Werner Enterprises, Inc. | 72,700 | 1,923,642 |
Wesco Aircraft Holdings, Inc. * | 23,900 | 297,794 |
43,619,670 | ||
Utilities 4.2% | ||
ALLETE, Inc. | 36,600 | 1,837,686 |
American States Water Co. | 23,830 | 971,073 |
Aqua America, Inc. | 93,375 | 2,670,525 |
Avista Corp. | 72,200 | 2,443,970 |
Black Hills Corp. | 48,300 | 2,211,174 |
California Water Service Group | 37,880 | 846,997 |
Cleco Corp. | 47,200 | 2,501,600 |
Dynegy, Inc. * | 54,300 | 1,055,049 |
El Paso Electric Co. | 51,090 | 1,975,650 |
Hawaiian Electric Industries, Inc. | 105,200 | 3,078,152 |
IDACORP, Inc. | 38,400 | 2,567,040 |
ITC Holdings Corp. | 62,200 | 2,035,184 |
MGE Energy, Inc. | 26,050 | 1,075,083 |
Security | Number of Shares | Value ($) |
New Jersey Resources Corp. | 82,600 | 2,616,768 |
Northwest Natural Gas Co. | 33,705 | 1,610,088 |
NorthWestern Corp. | 38,200 | 2,070,058 |
ONE Gas, Inc. | 20,700 | 1,010,988 |
Otter Tail Corp. | 46,380 | 1,272,667 |
Piedmont Natural Gas Co., Inc. | 64,800 | 3,713,688 |
PNM Resources, Inc. | 98,500 | 2,769,820 |
Portland General Electric Co. | 88,800 | 3,292,704 |
Questar Corp. | 128,000 | 2,643,200 |
South Jersey Industries, Inc. | 49,680 | 1,317,017 |
Southwest Gas Corp. | 49,700 | 3,054,562 |
The Empire District Electric Co. | 52,910 | 1,193,120 |
The Laclede Group, Inc. | 32,140 | 1,882,440 |
UIL Holdings Corp. | 46,200 | 2,355,738 |
WGL Holdings, Inc. | 55,400 | 3,447,542 |
59,519,583 | ||
Total Common Stock | ||
(Cost $1,209,007,594) | 1,401,645,072 | |
Rights 0.0% of net assets | ||
Technology Hardware & Equipment 0.0% | ||
Gerber Scientific, Inc. CVR *(b)(c) | 19,700 | — |
Telecommunication Services 0.0% | ||
Leap Wireless CVR *(b)(c) | 105,700 | 266,364 |
Total Rights | ||
(Cost $266,857) | 266,364 | |
Other Investment Companies 3.6% of net assets | ||
Money Market Fund 0.6% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (d) | 7,676,787 | 7,676,787 |
Securities Lending Collateral 3.0% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (d) | 42,673,850 | 42,673,850 |
Total Other Investment Companies | ||
(Cost $50,350,637) | 50,350,637 |
At 10/31/15, the tax basis cost of the fund's investments was $1,266,175,700 and the unrealized appreciation and depreciation were $292,377,579 and ($106,291,206), respectively, with a net unrealized appreciation of $186,086,373.
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $41,236,990. |
(b) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(c) | Illiquid security. At the period end, the value of these amounted to $266,364 or 0.0% of net assets. |
(d) | The rate shown is the 7-day yield. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/18/15 | 75 | 8,687,250 | 207,836 |
Holdings by Category | Cost ($) | Value ($) | |
98.8% | Common Stock | 1,164,973,487 | 1,158,703,379 |
0.5% | Preferred Stock | 6,784,733 | 5,910,863 |
0.0% | Rights | 127,301 | 123,592 |
1.3% | Other Investment Company | 15,802,505 | 15,802,505 |
0.1% | Short-Term Investments | 864,326 | 864,326 |
100.7% | Total Investments | 1,188,552,352 | 1,181,404,665 |
(0.7%) | Other Assets and Liabilities, Net | (8,321,923) | |
100.0% | Net Assets | 1,173,082,742 |
Security | Number of Shares | Value ($) |
Common Stock 98.8% of net assets | ||
Australia 5.1% | ||
Banks 1.6% | ||
Australia & New Zealand Banking Group Ltd. | 193,888 | 3,749,850 |
Bendigo & Adelaide Bank Ltd. | 33,402 | 253,393 |
Commonwealth Bank of Australia | 97,070 | 5,270,703 |
National Australia Bank Ltd. | 194,796 | 4,159,799 |
Westpac Banking Corp. * | 9,633 | 209,170 |
Westpac Banking Corp. | 209,446 | 4,665,202 |
18,308,117 | ||
Capital Goods 0.1% | ||
CIMIC Group Ltd. | 19,085 | 374,127 |
UGL Ltd. (c) | 207,313 | 333,958 |
708,085 | ||
Commercial & Professional Supplies 0.1% | ||
Brambles Ltd. | 91,025 | 670,306 |
Downer EDI Ltd. | 126,343 | 317,488 |
987,794 | ||
Consumer Services 0.1% | ||
Tabcorp Holdings Ltd. | 100,257 | 335,067 |
Tatts Group Ltd. | 178,688 | 501,707 |
836,774 | ||
Diversified Financials 0.1% | ||
BGP Holdings plc (a)(b) | 453,854 | — |
Macquarie Group Ltd. | 15,620 | 945,773 |
945,773 |
Security | Number of Shares | Value ($) |
Energy 0.3% | ||
Caltex Australia Ltd. | 20,882 | 467,470 |
Origin Energy Ltd. | 145,471 | 565,271 |
Santos Ltd. | 140,189 | 578,719 |
Woodside Petroleum Ltd. | 55,514 | 1,164,293 |
WorleyParsons Ltd. | 67,889 | 313,205 |
3,088,958 | ||
Food & Staples Retailing 0.7% | ||
Metcash Ltd. | 675,235 | 568,755 |
Wesfarmers Ltd. | 160,979 | 4,501,665 |
Woolworths Ltd. | 182,542 | 3,127,167 |
8,197,587 | ||
Food, Beverage & Tobacco 0.0% | ||
Coca-Cola Amatil Ltd. | 63,581 | 411,448 |
Health Care Equipment & Services 0.0% | ||
Sonic Healthcare Ltd. | 28,635 | 391,630 |
Insurance 0.4% | ||
AMP Ltd. | 229,633 | 931,348 |
Insurance Australia Group Ltd. | 154,227 | 613,030 |
Medibank Pvt Ltd. | 111,882 | 187,698 |
QBE Insurance Group Ltd. | 154,803 | 1,449,071 |
Suncorp Group Ltd. | 188,572 | 1,751,749 |
4,932,896 | ||
Materials 1.1% | ||
Amcor Ltd. | 70,992 | 685,698 |
Arrium Ltd. *(c) | 4,915,074 | 347,297 |
BHP Billiton Ltd. | 412,632 | 6,767,469 |
BlueScope Steel Ltd. | 182,620 | 575,540 |
Boral Ltd. | 101,148 | 386,913 |
Fortescue Metals Group Ltd. (c) | 202,008 | 298,495 |
Incitec Pivot Ltd. | 182,985 | 510,993 |
Newcrest Mining Ltd. * | 86,986 | 757,757 |
Orica Ltd. | 58,782 | 687,654 |
Rio Tinto Ltd. | 51,504 | 1,841,683 |
12,859,499 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
CSL Ltd. | 18,233 | 1,211,952 |
Real Estate 0.2% | ||
Lend Lease Group | 47,812 | 439,750 |
Mirvac Group | 229,311 | 293,116 |
Scentre Group | 67,477 | 197,919 |
Stockland | 213,071 | 611,524 |
Westfield Corp. | 126,273 | 916,126 |
2,458,435 | ||
Telecommunication Services 0.1% | ||
Telstra Corp., Ltd. | 451,494 | 1,729,964 |
Transportation 0.1% | ||
Asciano Ltd. | 83,166 | 484,318 |
Aurizon Holdings Ltd. | 134,216 | 492,104 |
Qantas Airways Ltd. * | 173,983 | 490,066 |
Transurban Group | 44,186 | 327,420 |
1,793,908 |
Security | Number of Shares | Value ($) |
Utilities 0.1% | ||
AGL Energy Ltd. | 64,450 | 764,290 |
APA Group | 42,535 | 277,123 |
DUET Group | 156,740 | 262,777 |
1,304,190 | ||
60,167,010 | ||
Austria 0.4% | ||
Banks 0.2% | ||
Erste Group Bank AG * | 51,583 | 1,512,610 |
Raiffeisen Bank International AG * | 33,899 | 534,919 |
2,047,529 | ||
Energy 0.1% | ||
OMV AG | 57,157 | 1,521,963 |
Materials 0.1% | ||
voestalpine AG | 19,418 | 702,080 |
4,271,572 | ||
Belgium 1.0% | ||
Banks 0.1% | ||
KBC Groep N.V. | 12,651 | 769,202 |
Diversified Financials 0.0% | ||
Groupe Bruxelles Lambert S.A. | 4,011 | 325,572 |
Food & Staples Retailing 0.2% | ||
Colruyt S.A. | 9,225 | 456,298 |
Delhaize Group | 23,253 | 2,157,618 |
2,613,916 | ||
Food, Beverage & Tobacco 0.3% | ||
Anheuser-Busch InBev N.V. | 29,896 | 3,567,328 |
Insurance 0.1% | ||
Ageas | 30,668 | 1,352,393 |
Materials 0.1% | ||
Solvay S.A. | 5,592 | 631,734 |
Umicore S.A. | 18,657 | 792,140 |
1,423,874 | ||
Media 0.0% | ||
Telenet Group Holding N.V. * | 5,376 | 312,685 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
UCB S.A. | 5,676 | 490,622 |
Telecommunication Services 0.1% | ||
Proximus | 20,922 | 724,002 |
11,579,594 | ||
Canada 6.3% | ||
Automobiles & Components 0.2% | ||
Magna International, Inc. | 42,627 | 2,248,056 |
Banks 1.5% | ||
Bank of Montreal (c) | 45,261 | 2,632,033 |
Canadian Imperial Bank of Commerce | 29,261 | 2,244,029 |
National Bank of Canada | 22,833 | 756,269 |
Royal Bank of Canada | 84,744 | 4,845,755 |
Security | Number of Shares | Value ($) |
The Bank of Nova Scotia | 76,315 | 3,588,719 |
The Toronto-Dominion Bank | 96,652 | 3,967,788 |
18,034,593 | ||
Capital Goods 0.1% | ||
Bombardier, Inc., Class B | 260,553 | 282,950 |
Finning International, Inc. | 20,617 | 329,531 |
SNC-Lavalin Group, Inc. | 11,840 | 379,485 |
991,966 | ||
Diversified Financials 0.1% | ||
CI Financial Corp. | 13,415 | 320,089 |
IGM Financial, Inc. | 11,334 | 327,642 |
Onex Corp. | 9,115 | 552,644 |
1,200,375 | ||
Energy 1.8% | ||
ARC Resources Ltd. | 27,572 | 406,537 |
Baytex Energy Corp. | 36,492 | 148,468 |
Bonavista Energy Corp. | 64,722 | 144,531 |
Cameco Corp. | 28,667 | 406,021 |
Canadian Natural Resources Ltd. | 95,045 | 2,203,858 |
Canadian Oil Sands Ltd. | 157,393 | 1,188,031 |
Cenovus Energy, Inc. | 118,795 | 1,769,751 |
Crescent Point Energy Corp. | 37,171 | 506,567 |
Enbridge, Inc. | 33,958 | 1,451,447 |
Encana Corp. | 184,897 | 1,406,948 |
Enerplus Corp. (c) | 56,547 | 266,821 |
Gibson Energy, Inc. | 16,253 | 216,649 |
Husky Energy, Inc. | 52,495 | 709,381 |
Imperial Oil Ltd. | 25,341 | 843,214 |
Inter Pipeline Ltd. | 12,274 | 229,973 |
Pacific Exploration & Production Corp. (c) | 116,614 | 227,413 |
Pembina Pipeline Corp. | 14,478 | 363,943 |
Pengrowth Energy Corp. (c) | 236,095 | 231,112 |
Penn West Petroleum Ltd. (c) | 827,911 | 962,393 |
Suncor Energy, Inc. | 166,359 | 4,950,313 |
TransCanada Corp. | 52,572 | 1,769,018 |
Vermilion Energy, Inc. | 7,654 | 269,318 |
20,671,707 | ||
Food & Staples Retailing 0.4% | ||
Alimentation Couche-Tard, Inc., Class B | 22,840 | 982,525 |
Empire Co., Ltd., Class A | 30,000 | 628,403 |
George Weston Ltd. | 7,211 | 607,277 |
Loblaw Cos., Ltd. | 19,143 | 1,008,682 |
Metro, Inc. | 34,394 | 983,475 |
4,210,362 | ||
Food, Beverage & Tobacco 0.0% | ||
Saputo, Inc. | 17,075 | 407,157 |
Insurance 0.5% | ||
Fairfax Financial Holdings Ltd. | 870 | 428,426 |
Great-West Lifeco, Inc. | 17,554 | 465,296 |
Intact Financial Corp. | 6,006 | 428,954 |
Manulife Financial Corp. | 87,700 | 1,454,066 |
Power Corp. of Canada | 44,944 | 1,010,175 |
Power Financial Corp. | 23,314 | 576,788 |
Sun Life Financial, Inc. | 33,675 | 1,135,720 |
5,499,425 |
Security | Number of Shares | Value ($) |
Materials 0.6% | ||
Agrium, Inc. | 13,353 | 1,242,270 |
Barrick Gold Corp. | 180,739 | 1,389,130 |
First Quantum Minerals Ltd. | 51,070 | 272,613 |
Goldcorp, Inc. | 56,720 | 725,700 |
Kinross Gold Corp. * | 214,592 | 431,613 |
Potash Corp. of Saskatchewan, Inc. | 64,964 | 1,315,576 |
Teck Resources Ltd., Class B | 133,168 | 780,106 |
Yamana Gold, Inc. | 154,978 | 338,970 |
6,495,978 | ||
Media 0.1% | ||
Quebecor, Inc., Class B | 11,625 | 273,733 |
Shaw Communications, Inc., Class B | 30,055 | 624,039 |
Yellow Pages Ltd. * | 36,379 | 471,013 |
1,368,785 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Valeant Pharmaceuticals International, Inc. * | 2,409 | 224,835 |
Real Estate 0.1% | ||
Brookfield Asset Management, Inc., Class A | 49,132 | 1,716,389 |
Retailing 0.1% | ||
Canadian Tire Corp., Ltd., Class A | 6,176 | 543,257 |
RONA, Inc. | 33,450 | 349,184 |
892,441 | ||
Software & Services 0.0% | ||
CGI Group, Inc., Class A * | 8,592 | 319,145 |
Technology Hardware & Equipment 0.1% | ||
BlackBerry Ltd. * | 160,888 | 1,172,578 |
Celestica, Inc. * | 31,066 | 348,293 |
1,520,871 | ||
Telecommunication Services 0.3% | ||
BCE, Inc. | 39,212 | 1,694,908 |
Rogers Communications, Inc., Class B | 35,341 | 1,406,235 |
TELUS Corp. | 25,871 | 863,422 |
3,964,565 | ||
Transportation 0.2% | ||
Canadian National Railway Co. | 36,117 | 2,206,076 |
Canadian Pacific Railway Ltd. | 4,150 | 583,177 |
2,789,253 | ||
Utilities 0.2% | ||
Atco Ltd., Class I | 9,489 | 271,042 |
Canadian Utilities Ltd., Class A | 13,293 | 349,709 |
Emera, Inc. | 9,798 | 321,005 |
Fortis, Inc. | 17,427 | 504,445 |
TransAlta Corp. | 71,621 | 334,114 |
1,780,315 | ||
74,336,218 |
Security | Number of Shares | Value ($) |
Denmark 0.8% | ||
Banks 0.1% | ||
Danske Bank A/S | 31,963 | 879,419 |
Capital Goods 0.1% | ||
FLSmidth & Co. A/S | 7,581 | 286,976 |
Vestas Wind Systems A/S | 9,493 | 553,482 |
840,458 | ||
Commercial & Professional Supplies 0.0% | ||
ISS A/S | 3,280 | 115,378 |
Food, Beverage & Tobacco 0.1% | ||
Carlsberg A/S, Class B | 10,658 | 873,201 |
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||
Novo Nordisk A/S, Class B | 50,709 | 2,692,824 |
Telecommunication Services 0.1% | ||
TDC A/S | 165,850 | 867,046 |
Transportation 0.2% | ||
AP Moeller - Maersk A/S, Series A | 634 | 909,084 |
AP Moeller - Maersk A/S, Series B | 981 | 1,447,780 |
DSV A/S | 10,212 | 414,395 |
2,771,259 | ||
9,039,585 | ||
Finland 1.0% | ||
Automobiles & Components 0.0% | ||
Nokian Renkaat Oyj | 10,948 | 413,030 |
Capital Goods 0.1% | ||
Kone Oyj, Class B | 13,286 | 566,655 |
Metso Oyj | 17,276 | 422,953 |
Wartsila Oyj Abp | 11,850 | 505,888 |
1,495,496 | ||
Energy 0.1% | ||
Neste Oyj | 19,633 | 478,702 |
Food & Staples Retailing 0.1% | ||
Kesko Oyj, B Shares | 22,438 | 716,318 |
Insurance 0.1% | ||
Sampo Oyj, A Shares | 22,659 | 1,107,517 |
Materials 0.2% | ||
Stora Enso Oyj, R Shares | 99,026 | 918,584 |
UPM-Kymmene Oyj | 77,194 | 1,445,147 |
2,363,731 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Orion Oyj, Class B | 10,511 | 375,426 |
Technology Hardware & Equipment 0.3% | ||
Nokia Oyj | 465,376 | 3,461,868 |
Telecommunication Services 0.0% | ||
Elisa Oyj | 11,394 | 429,283 |
Utilities 0.1% | ||
Fortum Oyj | 50,870 | 762,841 |
11,604,212 |
Security | Number of Shares | Value ($) |
France 11.0% | ||
Automobiles & Components 0.4% | ||
Faurecia | 7,895 | 312,078 |
Peugeot S.A. * | 105,510 | 1,853,757 |
Renault S.A. | 23,934 | 2,255,159 |
Valeo S.A. | 5,355 | 826,947 |
5,247,941 | ||
Banks 1.0% | ||
BNP Paribas S.A. | 117,634 | 7,128,290 |
Credit Agricole S.A. | 91,445 | 1,154,995 |
Societe Generale S.A. | 81,493 | 3,784,796 |
12,068,081 | ||
Capital Goods 1.7% | ||
Airbus Group SE | 22,992 | 1,601,053 |
Alstom S.A. * | 31,390 | 1,021,750 |
Bouygues S.A. | 45,997 | 1,738,549 |
Compagnie de Saint-Gobain | 94,307 | 3,947,790 |
Eiffage S.A. | 7,144 | 445,082 |
Legrand S.A. | 15,658 | 858,121 |
Nexans S.A. * | 8,525 | 338,877 |
Rexel S.A. | 62,719 | 855,977 |
Safran S.A. | 14,446 | 1,097,232 |
Schneider Electric SE | 44,784 | 2,701,153 |
Thales S.A. | 7,092 | 512,690 |
Vallourec S.A. | 44,213 | 489,407 |
Vinci S.A. | 62,373 | 4,199,340 |
Zodiac Aerospace | 8,929 | 225,249 |
20,032,270 | ||
Commercial & Professional Supplies 0.1% | ||
Bureau Veritas S.A. | 12,911 | 291,606 |
Teleperformance | 4,558 | 357,716 |
649,322 | ||
Consumer Durables & Apparel 0.4% | ||
Christian Dior SE | 3,844 | 755,508 |
Kering | 5,933 | 1,097,275 |
LVMH Moet Hennessy Louis Vuitton SE | 14,721 | 2,740,601 |
4,593,384 | ||
Consumer Services 0.1% | ||
Accor S.A. | 14,550 | 722,545 |
Sodexo S.A. | 7,037 | 625,531 |
1,348,076 | ||
Diversified Financials 0.0% | ||
Wendel S.A. | 2,815 | 337,451 |
Energy 2.0% | ||
CGG S.A. *(c) | 81,234 | 325,625 |
Technip S.A. | 14,101 | 734,800 |
Total S.A. | 466,331 | 22,551,216 |
23,611,641 | ||
Food & Staples Retailing 0.4% | ||
Carrefour S.A. | 118,536 | 3,862,611 |
Casino Guichard Perrachon S.A. | 13,428 | 771,502 |
Rallye S.A. | 17,004 | 314,420 |
4,948,533 |
Security | Number of Shares | Value ($) |
Food, Beverage & Tobacco 0.4% | ||
Danone S.A. | 43,120 | 2,996,842 |
Pernod-Ricard S.A. | 11,477 | 1,350,490 |
4,347,332 | ||
Health Care Equipment & Services 0.1% | ||
Essilor International S.A. | 7,021 | 921,600 |
Household & Personal Products 0.2% | ||
L'Oreal S.A. | 10,595 | 1,931,517 |
Insurance 0.5% | ||
AXA S.A. | 179,728 | 4,796,601 |
CNP Assurances | 16,345 | 233,149 |
SCOR SE | 16,578 | 616,414 |
5,646,164 | ||
Materials 0.3% | ||
Air Liquide S.A. | 21,814 | 2,822,010 |
Arkema S.A. | 9,153 | 668,889 |
3,490,899 | ||
Media 0.5% | ||
Eutelsat Communications S.A. | 12,193 | 401,876 |
Publicis Groupe S.A. | 8,987 | 582,135 |
Vivendi S.A. | 202,701 | 4,876,339 |
5,860,350 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.8% | ||
Sanofi | 96,811 | 9,765,889 |
Real Estate 0.1% | ||
Klepierre | 8,027 | 380,157 |
Unibail-Rodamco SE | 3,421 | 952,170 |
1,332,327 | ||
Software & Services 0.1% | ||
Atos SE | 6,059 | 482,336 |
Cap Gemini S.A. | 12,926 | 1,149,328 |
1,631,664 | ||
Technology Hardware & Equipment 0.1% | ||
Alcatel-Lucent * | 148,259 | 601,833 |
Telecommunication Services 0.8% | ||
Orange S.A. | 516,562 | 9,107,863 |
Transportation 0.1% | ||
Air France-KLM *(c) | 115,396 | 844,240 |
Utilities 0.9% | ||
Electricite de France S.A. | 57,076 | 1,060,901 |
Engie (c) | 383,538 | 6,712,220 |
Suez Environnement Co. | 50,459 | 958,107 |
Veolia Environnement S.A. | 93,100 | 2,162,735 |
10,893,963 | ||
129,212,340 | ||
Germany 8.6% | ||
Automobiles & Components 1.2% | ||
Bayerische Motoren Werke AG | 35,365 | 3,622,379 |
Continental AG | 6,438 | 1,545,955 |
Daimler AG - Reg'd | 95,404 | 8,272,836 |
Leoni AG | 4,637 | 189,414 |
Volkswagen AG | 3,159 | 437,431 |
14,068,015 |
Security | Number of Shares | Value ($) |
Banks 0.1% | ||
Commerzbank AG * | 88,839 | 977,027 |
Capital Goods 1.0% | ||
Brenntag AG | 13,309 | 803,641 |
GEA Group AG | 11,388 | 456,381 |
HOCHTIEF AG | 4,144 | 385,528 |
Kloeckner & Co. SE (c) | 39,705 | 353,679 |
MAN SE | 3,136 | 326,778 |
MTU Aero Engines AG | 3,676 | 340,062 |
OSRAM Licht AG | 9,471 | 556,556 |
Rheinmetall AG | 6,379 | 401,219 |
Siemens AG - Reg'd | 76,537 | 7,687,693 |
11,311,537 | ||
Commercial & Professional Supplies 0.0% | ||
Bilfinger SE (c) | 10,560 | 473,270 |
Consumer Durables & Apparel 0.2% | ||
adidas AG | 19,801 | 1,774,535 |
Hugo Boss AG | 2,252 | 231,565 |
2,006,100 | ||
Consumer Services 0.1% | ||
TUI AG | 41,332 | 767,694 |
Diversified Financials 0.4% | ||
Deutsche Bank AG - Reg'd | 125,708 | 3,518,416 |
Deutsche Boerse AG | 9,905 | 913,284 |
4,431,700 | ||
Food & Staples Retailing 0.1% | ||
METRO AG | 52,822 | 1,625,105 |
Food, Beverage & Tobacco 0.0% | ||
Suedzucker AG (c) | 23,894 | 445,920 |
Health Care Equipment & Services 0.2% | ||
Fresenius Medical Care AG & Co. KGaA | 11,716 | 1,054,528 |
Fresenius SE & Co. KGaA | 20,895 | 1,535,415 |
2,589,943 | ||
Household & Personal Products 0.1% | ||
Beiersdorf AG | 4,579 | 434,895 |
Henkel AG & Co. KGaA | 5,254 | 484,959 |
919,854 | ||
Insurance 0.9% | ||
Allianz SE - Reg'd | 38,556 | 6,749,911 |
Hannover Rueck SE | 4,455 | 515,043 |
Muenchener Rueckversicherungs-Gesellschaft AG - Reg'd | 16,101 | 3,210,441 |
10,475,395 | ||
Materials 1.4% | ||
Aurubis AG | 10,737 | 717,230 |
BASF SE | 110,002 | 9,011,785 |
HeidelbergCement AG | 16,552 | 1,232,620 |
K&S AG - Reg'd | 25,638 | 647,188 |
LANXESS AG | 12,762 | 684,844 |
Linde AG | 11,908 | 2,065,507 |
Salzgitter AG | 15,427 | 444,871 |
Symrise AG | 4,667 | 307,166 |
ThyssenKrupp AG | 56,814 | 1,144,797 |
16,256,008 |
Security | Number of Shares | Value ($) |
Media 0.1% | ||
ProSiebenSat.1 Media SE | 15,628 | 844,468 |
Pharmaceuticals, Biotechnology & Life Sciences 0.5% | ||
Bayer AG - Reg'd | 44,027 | 5,870,358 |
Merck KGaA | 4,832 | 471,741 |
6,342,099 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
Infineon Technologies AG | 55,088 | 678,570 |
Software & Services 0.2% | ||
SAP SE | 37,539 | 2,959,389 |
Telecommunication Services 0.8% | ||
Deutsche Telekom AG - Reg'd | 463,033 | 8,673,342 |
Freenet AG | 13,490 | 455,068 |
9,128,410 | ||
Transportation 0.4% | ||
Deutsche Lufthansa AG - Reg'd * | 63,605 | 939,302 |
Deutsche Post AG - Reg'd | 110,446 | 3,280,949 |
4,220,251 | ||
Utilities 0.8% | ||
E.ON SE | 669,128 | 7,058,734 |
RWE AG | 207,953 | 2,889,977 |
9,948,711 | ||
100,469,466 | ||
Hong Kong 1.0% | ||
Banks 0.1% | ||
Hang Seng Bank Ltd. | 35,900 | 658,615 |
Capital Goods 0.2% | ||
Jardine Matheson Holdings Ltd. | 17,300 | 940,711 |
Jardine Strategic Holdings Ltd. | 11,400 | 343,146 |
Noble Group Ltd. (c) | 2,562,879 | 920,174 |
2,204,031 | ||
Consumer Durables & Apparel 0.1% | ||
Li & Fung Ltd. | 836,000 | 677,714 |
Consumer Services 0.1% | ||
Galaxy Entertainment Group Ltd. | 55,000 | 187,873 |
Sands China Ltd. | 99,200 | 357,215 |
SJM Holdings Ltd. | 243,000 | 201,732 |
746,820 | ||
Diversified Financials 0.0% | ||
Hong Kong Exchanges & Clearing Ltd. | 11,700 | 306,175 |
Insurance 0.1% | ||
AIA Group Ltd. | 222,800 | 1,306,350 |
Real Estate 0.2% | ||
Hongkong Land Holdings Ltd. | 35,000 | 262,437 |
Link REIT | 56,500 | 337,569 |
New World Development Co., Ltd. | 296,000 | 315,715 |
Sun Hung Kai Properties Ltd. | 40,000 | 534,312 |
Swire Pacific Ltd., Class A | 56,000 | 646,998 |
Security | Number of Shares | Value ($) |
The Wharf Holdings Ltd. | 71,000 | 422,481 |
Wheelock & Co., Ltd. | 50,000 | 233,056 |
2,752,568 | ||
Retailing 0.1% | ||
Esprit Holdings Ltd. | 635,984 | 714,509 |
Transportation 0.0% | ||
MTR Corp., Ltd. | 64,000 | 289,936 |
Utilities 0.1% | ||
CLP Holdings Ltd. | 140,500 | 1,221,439 |
Hong Kong & China Gas Co., Ltd. | 184,308 | 373,691 |
Power Assets Holdings Ltd. | 38,500 | 382,937 |
1,978,067 | ||
11,634,785 | ||
Ireland 0.6% | ||
Banks 0.0% | ||
Bank of Ireland * | 1,321,901 | 491,513 |
Commercial & Professional Supplies 0.1% | ||
Experian plc | 51,940 | 885,061 |
Food, Beverage & Tobacco 0.0% | ||
Kerry Group plc, Class A | 6,378 | 517,285 |
Materials 0.3% | ||
CRH plc | 87,176 | 2,386,079 |
Smurfit Kappa Group plc | 21,852 | 621,886 |
3,007,965 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Shire plc | 8,152 | 617,358 |
Technology Hardware & Equipment 0.1% | ||
Seagate Technology plc | 31,417 | 1,195,731 |
6,714,913 | ||
Israel 0.4% | ||
Banks 0.1% | ||
Bank Hapoalim B.M. | 49,931 | 259,909 |
Bank Leumi Le-Israel B.M. * | 92,928 | 352,604 |
612,513 | ||
Materials 0.0% | ||
Israel Chemicals Ltd. | 77,401 | 429,170 |
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||
Teva Pharmaceutical Industries Ltd. | 50,622 | 3,005,581 |
Software & Services 0.0% | ||
Check Point Software Technologies Ltd. * | 4,000 | 339,760 |
Telecommunication Services 0.1% | ||
Bezeq The Israeli Telecommunication Corp., Ltd. | 358,893 | 769,102 |
5,156,126 | ||
Italy 3.8% | ||
Automobiles & Components 0.0% | ||
Pirelli & C. S.p.A. | 23,245 | 382,171 |
Security | Number of Shares | Value ($) |
Banks 1.0% | ||
Banca Monte dei Paschi di Siena S.p.A. * | 289,665 | 531,746 |
Banca Popolare dell'Emilia Romagna SC | 48,481 | 391,246 |
Banco Popolare SC * | 32,748 | 489,360 |
Intesa Sanpaolo S.p.A. | 1,356,796 | 4,720,368 |
UniCredit S.p.A. | 841,112 | 5,431,115 |
Unione di Banche Italiane S.p.A. | 91,479 | 684,422 |
12,248,257 | ||
Capital Goods 0.1% | ||
Finmeccanica S.p.A. * | 52,329 | 684,082 |
Prysmian S.p.A. | 20,459 | 441,818 |
1,125,900 | ||
Consumer Durables & Apparel 0.0% | ||
Luxottica Group S.p.A. | 4,809 | 337,112 |
Diversified Financials 0.1% | ||
EXOR S.p.A. | 27,671 | 1,372,318 |
Mediobanca S.p.A. | 35,125 | 353,244 |
1,725,562 | ||
Energy 1.1% | ||
Eni S.p.A. | 718,833 | 11,738,720 |
Saipem S.p.A. *(c) | 74,342 | 698,426 |
12,437,146 | ||
Insurance 0.2% | ||
Assicurazioni Generali S.p.A. | 97,865 | 1,854,205 |
Media 0.1% | ||
Mediaset S.p.A. | 128,322 | 651,312 |
Telecommunication Services 0.3% | ||
Telecom Italia S.p.A. * | 2,753,808 | 3,841,786 |
Transportation 0.1% | ||
Atlantia S.p.A. | 27,805 | 770,013 |
Utilities 0.8% | ||
A2A S.p.A. | 268,901 | 368,347 |
Enel S.p.A. | 1,550,674 | 7,150,679 |
Snam S.p.A. | 180,310 | 933,104 |
Terna - Rete Elettrica Nationale S.p.A. | 97,311 | 494,954 |
8,947,084 | ||
44,320,548 | ||
Japan 22.1% | ||
Automobiles & Components 3.0% | ||
Aisin Seiki Co., Ltd. | 29,800 | 1,182,732 |
Bridgestone Corp. | 67,300 | 2,467,951 |
Daihatsu Motor Co., Ltd. | 41,000 | 502,238 |
Denso Corp. | 41,700 | 1,944,165 |
Fuji Heavy Industries Ltd. | 25,400 | 982,310 |
Honda Motor Co., Ltd. | 203,400 | 6,728,561 |
Isuzu Motors Ltd. | 56,800 | 663,397 |
Mazda Motor Corp. | 41,900 | 822,466 |
Mitsubishi Motors Corp. | 40,900 | 362,264 |
NGK Spark Plug Co., Ltd. | 10,000 | 244,050 |
NHK Spring Co., Ltd. | 35,200 | 358,262 |
Nissan Motor Co., Ltd. | 337,400 | 3,497,562 |
Stanley Electric Co., Ltd. | 13,900 | 265,498 |
Security | Number of Shares | Value ($) |
Sumitomo Electric Industries Ltd. | 114,300 | 1,559,960 |
Sumitomo Rubber Industries Ltd. | 23,600 | 351,014 |
Suzuki Motor Corp. | 38,000 | 1,244,252 |
The Yokohama Rubber Co., Ltd. | 12,900 | 247,985 |
Toyoda Gosei Co., Ltd. | 12,200 | 279,649 |
Toyota Industries Corp. | 13,400 | 704,167 |
Toyota Motor Corp. | 173,200 | 10,610,999 |
Yamaha Motor Co., Ltd. | 23,300 | 522,443 |
35,541,925 | ||
Banks 1.3% | ||
Mitsubishi UFJ Financial Group, Inc. | 814,834 | 5,269,963 |
Mizuho Financial Group, Inc. | 1,719,916 | 3,542,759 |
North Pacific Bank Ltd. | 62,400 | 239,192 |
Resona Holdings, Inc. | 176,358 | 933,167 |
Sumitomo Mitsui Financial Group, Inc. | 106,510 | 4,249,072 |
Sumitomo Mitsui Trust Holdings, Inc. | 181,000 | 694,777 |
The Bank of Yokohama Ltd. | 61,000 | 380,708 |
15,309,638 | ||
Capital Goods 3.0% | ||
Asahi Glass Co., Ltd. | 231,000 | 1,322,588 |
Daikin Industries Ltd. | 14,200 | 912,364 |
Ebara Corp. | 62,000 | 268,617 |
FANUC Corp. | 5,600 | 988,072 |
Furukawa Electric Co., Ltd. | 215,000 | 393,455 |
Hanwa Co., Ltd. | 86,000 | 355,637 |
Hino Motors Ltd. | 23,400 | 267,769 |
Hitachi Construction Machinery Co., Ltd. | 15,100 | 233,851 |
IHI Corp. | 133,000 | 375,248 |
ITOCHU Corp. | 179,300 | 2,243,577 |
JGC Corp. | 29,000 | 460,286 |
JTEKT Corp. | 23,500 | 405,066 |
Kajima Corp. | 100,000 | 572,248 |
Kawasaki Heavy Industries Ltd. | 122,000 | 489,682 |
Kinden Corp. | 28,000 | 363,787 |
Komatsu Ltd. | 94,200 | 1,548,411 |
Kubota Corp. | 54,000 | 837,078 |
LIXIL Group Corp. | 34,600 | 740,788 |
Makita Corp. | 8,800 | 482,177 |
Marubeni Corp. | 272,600 | 1,575,090 |
Mitsubishi Corp. | 171,700 | 3,121,606 |
Mitsubishi Electric Corp. | 197,000 | 2,051,703 |
Mitsubishi Heavy Industries Ltd. | 332,000 | 1,673,767 |
Mitsui & Co., Ltd. | 254,400 | 3,226,532 |
Mitsui Engineering & Shipbuilding Co., Ltd. | 174,000 | 267,876 |
Nagase & Co., Ltd. | 27,300 | 338,562 |
Nidec Corp. | 7,500 | 565,170 |
NSK Ltd. | 30,200 | 357,175 |
Obayashi Corp. | 66,000 | 578,824 |
Shimizu Corp. | 62,000 | 542,847 |
SMC Corp. | 2,000 | 514,484 |
Sojitz Corp. | 516,600 | 1,136,260 |
Security | Number of Shares | Value ($) |
Sumitomo Corp. | 180,800 | 1,977,460 |
Sumitomo Heavy Industries Ltd. | 85,000 | 383,011 |
Taisei Corp. | 91,000 | 591,365 |
Toshiba Corp. * | 679,000 | 1,915,498 |
TOTO Ltd. | 10,500 | 356,006 |
Toyota Tsusho Corp. | 47,300 | 1,083,267 |
35,517,204 | ||
Commercial & Professional Supplies 0.3% | ||
Dai Nippon Printing Co., Ltd. | 128,000 | 1,323,786 |
Recruit Holdings Co., Ltd. | 11,600 | 372,842 |
Secom Co., Ltd. | 16,000 | 1,067,281 |
Toppan Printing Co., Ltd. | 116,000 | 1,040,226 |
3,804,135 | ||
Consumer Durables & Apparel 1.0% | ||
Bandai Namco Holdings, Inc. | 23,100 | 567,803 |
Iida Group Holdings Co., Ltd. | 8,300 | 155,566 |
Nikon Corp. | 56,300 | 728,323 |
Panasonic Corp. | 276,950 | 3,249,382 |
Sega Sammy Holdings, Inc. | 29,100 | 306,447 |
Sekisui Chemical Co., Ltd. | 50,000 | 589,950 |
Sekisui House Ltd. | 71,600 | 1,191,883 |
Sharp Corp. *(c) | 503,000 | 551,328 |
Shimano, Inc. | 2,400 | 378,164 |
Sony Corp. | 105,300 | 2,993,195 |
Sumitomo Forestry Co., Ltd. | 24,900 | 297,819 |
Yamaha Corp. | 14,100 | 349,945 |
11,359,805 | ||
Consumer Services 0.1% | ||
Benesse Holdings, Inc. | 10,400 | 278,816 |
Oriental Land Co., Ltd. | 7,100 | 431,302 |
710,118 | ||
Diversified Financials 0.2% | ||
Daiwa Securities Group, Inc. | 48,000 | 328,203 |
Nomura Holdings, Inc. | 125,600 | 790,067 |
ORIX Corp. | 64,600 | 943,404 |
2,061,674 | ||
Energy 0.7% | ||
Cosmo Energy Holdings Co., Ltd. * | 32,300 | 439,054 |
Idemitsu Kosan Co., Ltd. | 62,900 | 1,031,525 |
Inpex Corp. | 159,300 | 1,518,447 |
JX Holdings, Inc. | 1,049,400 | 4,120,636 |
Showa Shell Sekiyu K.K. | 46,800 | 413,078 |
TonenGeneral Sekiyu K.K. | 64,000 | 664,939 |
8,187,679 | ||
Food & Staples Retailing 0.6% | ||
Aeon Co., Ltd. | 157,100 | 2,327,633 |
Lawson, Inc. | 6,100 | 451,844 |
Seven & i Holdings Co., Ltd. | 91,700 | 4,165,455 |
UNY Group Holdings Co., Ltd. | 84,900 | 469,382 |
7,414,314 | ||
Food, Beverage & Tobacco 0.9% | ||
Ajinomoto Co., Inc. | 46,000 | 1,024,603 |
Asahi Group Holdings Ltd. | 32,400 | 999,417 |
Coca-Cola West Co., Ltd. | 19,200 | 388,270 |
Japan Tobacco, Inc. | 71,100 | 2,460,898 |
Kewpie Corp. | 14,100 | 322,056 |
Kirin Holdings Co., Ltd. | 121,400 | 1,719,426 |
Security | Number of Shares | Value ($) |
MEIJI Holdings Co., Ltd. | 10,800 | 851,037 |
NH Foods Ltd. | 28,000 | 584,038 |
Nisshin Seifun Group, Inc. | 28,030 | 428,423 |
Nissin Foods Holdings Co., Ltd. | 6,200 | 286,614 |
Suntory Beverage & Food Ltd. | 8,400 | 339,676 |
Toyo Suisan Kaisha Ltd. | 9,500 | 350,054 |
Yamazaki Baking Co., Ltd. | 22,000 | 423,689 |
10,178,201 | ||
Health Care Equipment & Services 0.4% | ||
Alfresa Holdings Corp. | 43,200 | 828,377 |
Hoya Corp. | 28,700 | 1,184,356 |
Medipal Holdings Corp. | 47,500 | 828,973 |
Olympus Corp. | 9,000 | 303,582 |
Suzuken Co., Ltd. | 22,030 | 843,174 |
Terumo Corp. | 17,700 | 525,160 |
4,513,622 | ||
Household & Personal Products 0.2% | ||
Kao Corp. | 34,800 | 1,786,608 |
Shiseido Co., Ltd. | 35,900 | 852,771 |
Unicharm Corp. | 15,500 | 331,022 |
2,970,401 | ||
Insurance 0.4% | ||
MS&AD Insurance Group Holdings, Inc. | 28,190 | 831,058 |
Sompo Japan Nipponkoa Holdings, Inc. | 26,200 | 822,634 |
T&D Holdings, Inc. | 36,350 | 477,665 |
The Dai-ichi Life Insurance Co., Ltd. | 49,400 | 854,585 |
Tokio Marine Holdings, Inc. | 37,600 | 1,448,791 |
4,434,733 | ||
Materials 1.8% | ||
Air Water, Inc. | 20,000 | 327,255 |
Asahi Kasei Corp. | 142,000 | 871,401 |
Daicel Corp. | 26,400 | 348,860 |
Denka Co., Ltd. | 74,000 | 343,398 |
DIC Corp. | 134,000 | 362,719 |
Hitachi Chemical Co., Ltd. | 13,800 | 218,145 |
JFE Holdings, Inc. | 89,200 | 1,402,270 |
JSR Corp. | 19,400 | 306,390 |
Kaneka Corp. | 53,000 | 469,964 |
Kobe Steel Ltd. | 538,000 | 679,371 |
Kuraray Co., Ltd. | 38,100 | 469,920 |
Mitsubishi Chemical Holdings Corp. | 240,100 | 1,496,196 |
Mitsubishi Materials Corp. | 165,000 | 575,575 |
Mitsui Chemicals, Inc. | 189,000 | 714,638 |
Mitsui Mining & Smelting Co., Ltd. | 128,000 | 246,050 |
Nippon Paper Industries Co., Ltd. | 27,400 | 507,850 |
Nippon Steel & Sumitomo Metal Corp. | 93,200 | 1,889,401 |
Nitto Denko Corp. | 13,700 | 878,504 |
Oji Holdings Corp. | 168,000 | 870,072 |
Shin-Etsu Chemical Co., Ltd. | 28,600 | 1,700,818 |
Showa Denko K.K. | 353,000 | 444,594 |
Sumitomo Chemical Co., Ltd. | 196,000 | 1,122,728 |
Security | Number of Shares | Value ($) |
Sumitomo Metal Mining Co., Ltd. | 57,000 | 707,165 |
Taiheiyo Cement Corp. | 128,000 | 421,981 |
Taiyo Nippon Sanso Corp. | 26,700 | 275,213 |
Teijin Ltd. | 179,000 | 631,879 |
Toray Industries, Inc. | 132,000 | 1,151,595 |
Tosoh Corp. | 72,000 | 365,670 |
Toyo Seikan Group Holdings Ltd. | 37,800 | 730,420 |
Ube Industries Ltd. | 270,000 | 566,935 |
21,096,977 | ||
Media 0.1% | ||
Dentsu, Inc. | 18,501 | 1,040,092 |
Hakuhodo DY Holdings, Inc. | 43,100 | 452,845 |
1,492,937 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.9% | ||
Astellas Pharma, Inc. | 124,500 | 1,807,051 |
Chugai Pharmaceutical Co., Ltd. | 10,700 | 344,432 |
Daiichi Sankyo Co., Ltd. | 74,000 | 1,453,289 |
Eisai Co., Ltd. | 17,200 | 1,075,853 |
Kyowa Hakko Kirin Co., Ltd. | 24,000 | 395,592 |
Mitsubishi Tanabe Pharma Corp. | 18,200 | 307,748 |
Ono Pharmaceutical Co., Ltd. | 3,100 | 424,683 |
Otsuka Holdings Co., Ltd. | 38,400 | 1,277,968 |
Shionogi & Co., Ltd. | 13,300 | 545,519 |
Takeda Pharmaceutical Co., Ltd. | 67,800 | 3,310,827 |
10,942,962 | ||
Real Estate 0.4% | ||
Daito Trust Construction Co., Ltd. | 7,200 | 779,373 |
Daiwa House Industry Co., Ltd. | 48,700 | 1,278,389 |
Mitsubishi Estate Co., Ltd. | 40,000 | 857,859 |
Mitsui Fudosan Co., Ltd. | 37,000 | 1,006,905 |
Sumitomo Realty & Development Co., Ltd. | 16,500 | 543,318 |
Tokyu Fudosan Holdings Corp. | 18,400 | 129,336 |
4,595,180 | ||
Retailing 0.5% | ||
EDION Corp. (c) | 49,500 | 371,313 |
Fast Retailing Co., Ltd. | 1,600 | 584,452 |
Isetan Mitsukoshi Holdings Ltd. | 41,700 | 668,943 |
J. Front Retailing Co., Ltd. | 33,400 | 548,504 |
K's Holdings Corp. | 13,400 | 472,894 |
Marui Group Co., Ltd. | 29,800 | 384,920 |
Nitori Holdings Co., Ltd. | 5,000 | 389,895 |
Shimamura Co., Ltd. | 5,300 | 595,249 |
Takashimaya Co., Ltd. | 48,000 | 429,082 |
Yamada Denki Co., Ltd. | 307,500 | 1,383,332 |
5,828,584 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
Rohm Co., Ltd. | 8,400 | 415,225 |
Tokyo Electron Ltd. | 11,500 | 689,757 |
1,104,982 |
Security | Number of Shares | Value ($) |
Software & Services 0.4% | ||
Fujitsu Ltd. | 397,000 | 1,876,467 |
Konami Holdings Corp. | 16,300 | 370,365 |
Nintendo Co., Ltd. | 11,530 | 1,843,262 |
Nomura Research Institute Ltd. | 8,910 | 364,155 |
NTT Data Corp. | 15,800 | 786,286 |
5,240,535 | ||
Technology Hardware & Equipment 1.7% | ||
Brother Industries Ltd. | 29,300 | 374,496 |
Canon, Inc. | 143,600 | 4,288,191 |
FUJIFILM Holdings Corp. | 58,900 | 2,349,446 |
Hitachi Ltd. | 775,000 | 4,470,812 |
Ibiden Co., Ltd. | 23,200 | 319,676 |
Keyence Corp. | 673 | 350,369 |
Konica Minolta, Inc. | 65,300 | 670,919 |
Kyocera Corp. | 32,000 | 1,447,509 |
Murata Manufacturing Co., Ltd. | 6,700 | 953,755 |
NEC Corp. | 489,000 | 1,508,556 |
Nippon Electric Glass Co., Ltd. | 111,000 | 543,164 |
Omron Corp. | 14,300 | 473,514 |
Ricoh Co., Ltd. | 124,900 | 1,346,159 |
Seiko Epson Corp. | 26,300 | 401,737 |
TDK Corp. | 12,500 | 796,205 |
20,294,508 | ||
Telecommunication Services 1.5% | ||
KDDI Corp. | 177,200 | 4,287,941 |
Nippon Telegraph & Telephone Corp. | 170,608 | 6,254,722 |
NTT DOCOMO, Inc. | 186,500 | 3,632,178 |
SoftBank Group Corp. | 53,200 | 2,980,685 |
17,155,526 | ||
Transportation 1.3% | ||
ANA Holdings, Inc. | 151,000 | 450,916 |
Central Japan Railway Co. | 11,800 | 2,152,477 |
East Japan Railway Co. | 32,518 | 3,091,666 |
Hankyu Hanshin Holdings, Inc. | 98,000 | 638,384 |
Kamigumi Co., Ltd. | 31,000 | 266,341 |
Kawasaki Kisen Kaisha Ltd. | 182,000 | 408,611 |
Keio Corp. | 36,000 | 292,996 |
Kintetsu Group Holdings Co., Ltd. | 116,000 | 448,466 |
Mitsui O.S.K. Lines Ltd. | 254,000 | 678,285 |
Nagoya Railroad Co., Ltd. | 89,000 | 367,819 |
Nippon Express Co., Ltd. | 169,000 | 870,635 |
Nippon Yusen K.K. | 352,000 | 920,978 |
Odakyu Electric Railway Co., Ltd. | 32,000 | 312,791 |
Seino Holdings Co., Ltd. | 32,000 | 379,784 |
Tobu Railway Co., Ltd. | 86,000 | 415,957 |
Tokyu Corp. | 90,000 | 729,787 |
West Japan Railway Co. | 19,763 | 1,388,484 |
Yamato Holdings Co., Ltd. | 46,800 | 921,225 |
14,735,602 | ||
Utilities 1.3% | ||
Chubu Electric Power Co., Inc. | 138,200 | 2,125,930 |
Electric Power Development Co., Ltd. | 14,800 | 487,896 |
Security | Number of Shares | Value ($) |
Hokkaido Electric Power Co., Inc. * | 40,700 | 434,781 |
Hokuriku Electric Power Co. | 32,400 | 483,274 |
Kyushu Electric Power Co., Inc. * | 75,400 | 909,982 |
Osaka Gas Co., Ltd. | 284,000 | 1,118,524 |
Shikoku Electric Power Co., Inc. | 28,200 | 478,754 |
The Chugoku Electric Power Co., Inc. | 51,100 | 772,197 |
The Kansai Electric Power Co., Inc. * | 148,000 | 1,896,283 |
Toho Gas Co., Ltd. | 55,000 | 336,840 |
Tohoku Electric Power Co., Inc. | 77,900 | 1,093,750 |
Tokyo Electric Power Co., Inc. * | 543,100 | 3,704,716 |
Tokyo Gas Co., Ltd. | 290,000 | 1,435,169 |
15,278,096 | ||
259,769,338 | ||
Luxembourg 0.4% | ||
Energy 0.1% | ||
Tenaris S.A. | 50,309 | 633,607 |
Materials 0.2% | ||
ArcelorMittal | 395,204 | 2,206,924 |
Media 0.1% | ||
RTL Group S.A. * | 4,587 | 396,797 |
SES S.A. | 17,484 | 515,872 |
912,669 | ||
Telecommunication Services 0.0% | ||
Millicom International Cellular S.A. SDR | 8,525 | 475,239 |
4,228,439 | ||
Netherlands 5.5% | ||
Banks 0.2% | ||
ING Groep N.V. CVA | 193,408 | 2,814,835 |
Capital Goods 0.3% | ||
Boskalis Westminster N.V. | 6,775 | 328,822 |
Koninklijke Philips N.V. | 101,074 | 2,724,828 |
3,053,650 | ||
Commercial & Professional Supplies 0.1% | ||
Randstad Holding N.V. | 14,058 | 838,367 |
Diversified Financials 0.0% | ||
SNS Reaal N.V. *(a)(b)(c) | 124,822 | — |
Energy 3.2% | ||
Fugro N.V. CVA * | 17,876 | 339,089 |
Royal Dutch Shell plc, A Shares | 884,646 | 23,173,671 |
Royal Dutch Shell plc, B Shares | 550,217 | 14,407,369 |
37,920,129 | ||
Food & Staples Retailing 0.3% | ||
Koninklijke Ahold N.V. | 156,237 | 3,178,291 |
Security | Number of Shares | Value ($) |
Food, Beverage & Tobacco 0.2% | ||
Heineken Holding N.V. | 10,671 | 852,537 |
Heineken N.V. | 12,705 | 1,157,208 |
2,009,745 | ||
Household & Personal Products 0.3% | ||
Unilever N.V. CVA | 89,436 | 4,044,083 |
Insurance 0.1% | ||
Aegon N.V. | 157,889 | 968,881 |
Delta Lloyd N.V. | 24,904 | 196,244 |
1,165,125 | ||
Materials 0.3% | ||
Akzo Nobel N.V. | 26,537 | 1,876,972 |
Koninklijke DSM N.V. | 21,478 | 1,144,939 |
3,021,911 | ||
Media 0.1% | ||
RELX N.V. | 38,903 | 663,560 |
Wolters Kluwer N.V. | 19,889 | 672,194 |
1,335,754 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
ASML Holding N.V. | 6,737 | 624,932 |
NXP Semiconductors N.V. * | 2,617 | 205,042 |
829,974 | ||
Software & Services 0.0% | ||
Gemalto N.V. | 4,101 | 256,761 |
Telecommunication Services 0.2% | ||
Koninklijke (Royal) KPN N.V. | 643,721 | 2,358,723 |
VimpelCom Ltd. ADR | 29,956 | 113,234 |
2,471,957 | ||
Transportation 0.1% | ||
PostNL N.V. * | 82,920 | 341,608 |
TNT Express N.V. | 88,285 | 741,861 |
1,083,469 | ||
64,024,051 | ||
New Zealand 0.1% | ||
Materials 0.0% | ||
Fletcher Building Ltd. | 83,548 | 420,801 |
Telecommunication Services 0.1% | ||
Spark New Zealand Ltd. | 347,279 | 787,706 |
Utilities 0.0% | ||
Meridian Energy Ltd. | 220,943 | 331,992 |
1,540,499 | ||
Norway 0.9% | ||
Banks 0.1% | ||
DNB A.S.A. | 64,834 | 825,463 |
Energy 0.5% | ||
Petroleum Geo-Services A.S.A. (c) | 76,782 | 321,275 |
Statoil A.S.A. | 331,631 | 5,360,569 |
5,681,844 | ||
Food, Beverage & Tobacco 0.1% | ||
Marine Harvest A.S.A. * | 25,848 | 346,930 |
Orkla A.S.A. | 99,589 | 847,510 |
1,194,440 |
Security | Number of Shares | Value ($) |
Materials 0.1% | ||
Norsk Hydro A.S.A. | 173,842 | 622,664 |
Yara International A.S.A. | 22,072 | 1,002,642 |
1,625,306 | ||
Telecommunication Services 0.1% | ||
Telenor A.S.A. | 75,811 | 1,428,139 |
10,755,192 | ||
Portugal 0.3% | ||
Banks 0.0% | ||
Banco Comercial Portugues S.A., Class R * | 3,981,767 | 228,245 |
Energy 0.1% | ||
Galp Energia, SGPS, S.A. | 60,275 | 650,667 |
Food & Staples Retailing 0.0% | ||
Jeronimo Martins, SGPS, S.A. | 23,875 | 335,127 |
Telecommunication Services 0.1% | ||
Pharol SGPS S.A. * | 1,565,434 | 661,029 |
Utilities 0.1% | ||
EDP - Energias de Portugal S.A. | 367,640 | 1,358,605 |
3,233,673 | ||
Singapore 0.8% | ||
Banks 0.3% | ||
DBS Group Holdings Ltd. | 84,056 | 1,033,472 |
Oversea-Chinese Banking Corp., Ltd. | 146,997 | 944,875 |
United Overseas Bank Ltd. | 67,852 | 985,264 |
2,963,611 | ||
Capital Goods 0.1% | ||
Keppel Corp., Ltd. | 138,200 | 695,657 |
Sembcorp Industries Ltd. | 121,400 | 309,346 |
1,005,003 | ||
Food, Beverage & Tobacco 0.1% | ||
Golden Agri-Resources Ltd. | 997,800 | 276,912 |
Wilmar International Ltd. | 233,266 | 519,802 |
796,714 | ||
Media 0.0% | ||
Singapore Press Holdings Ltd. | 129,700 | 368,866 |
Real Estate 0.0% | ||
CapitaLand Ltd. | 126,800 | 279,710 |
Retailing 0.0% | ||
Jardine Cycle & Carriage Ltd. | 13,500 | 312,563 |
Technology Hardware & Equipment 0.1% | ||
Flextronics International Ltd. * | 77,565 | 883,465 |
Venture Corp., Ltd. | 53,500 | 315,287 |
1,198,752 | ||
Telecommunication Services 0.1% | ||
Singapore Telecommunications Ltd. | 579,186 | 1,645,614 |
Security | Number of Shares | Value ($) |
Transportation 0.1% | ||
ComfortDelGro Corp., Ltd. | 149,000 | 322,378 |
Hutchison Port Holdings Trust, Class U | 613,600 | 339,846 |
Singapore Airlines Ltd. | 75,670 | 582,147 |
1,244,371 | ||
9,815,204 | ||
Spain 4.1% | ||
Banks 1.7% | ||
Banco Bilbao Vizcaya Argentaria S.A. | 621,803 | 5,349,751 |
Banco de Sabadell S.A. | 282,612 | 545,244 |
Banco Popular Espanol S.A. | 210,479 | 800,260 |
Banco Santander S.A. | 2,253,845 | 12,590,425 |
CaixaBank S.A. | 159,280 | 610,067 |
19,895,747 | ||
Capital Goods 0.1% | ||
ACS, Actividades de Construccion y Servicios S.A. | 30,431 | 1,032,475 |
Ferrovial S.A. | 40,365 | 1,018,305 |
2,050,780 | ||
Energy 0.3% | ||
Repsol S.A. | 278,012 | 3,499,720 |
Food & Staples Retailing 0.0% | ||
Distribuidora Internacional de Alimentacion S.A. * | 47,010 | 298,682 |
Insurance 0.0% | ||
Mapfre S.A. | 126,608 | 375,616 |
Retailing 0.1% | ||
Industria de Diseno Textil S.A. | 44,812 | 1,677,957 |
Software & Services 0.1% | ||
Amadeus IT Holding S.A., A Shares | 14,666 | 623,841 |
Telecommunication Services 1.0% | ||
Telefonica S.A. | 879,734 | 11,606,629 |
Transportation 0.1% | ||
Abertis Infraestructuras S.A. | 39,271 | 652,137 |
Utilities 0.7% | ||
Acciona S.A. | 5,260 | 441,259 |
Enagas S.A. | 13,539 | 409,396 |
Endesa S.A. | 49,948 | 1,110,603 |
Gas Natural SDG S.A. | 39,646 | 857,615 |
Iberdrola S.A. | 663,854 | 4,734,035 |
Red Electrica Corp. S.A. | 5,653 | 497,661 |
8,050,569 | ||
48,731,678 | ||
Sweden 2.2% | ||
Automobiles & Components 0.1% | ||
Autoliv, Inc. (c) | 6,767 | 820,431 |
Banks 0.4% | ||
Nordea Bank AB | 184,631 | 2,037,151 |
Skandinaviska Enskilda Banken AB, A Shares | 71,282 | 748,523 |
Security | Number of Shares | Value ($) |
Svenska Handelsbanken AB, A Shares | 78,423 | 1,065,099 |
Swedbank AB, A Shares | 49,376 | 1,131,371 |
4,982,144 | ||
Capital Goods 0.7% | ||
Alfa Laval AB | 20,621 | 361,771 |
Assa Abloy AB, Class B | 35,603 | 708,253 |
Atlas Copco AB, A Shares | 35,888 | 935,266 |
Atlas Copco AB, B Shares | 18,014 | 435,485 |
NCC AB, B Shares | 10,931 | 338,069 |
Sandvik AB | 117,222 | 1,093,296 |
Skanska AB, B Shares | 43,199 | 842,941 |
SKF AB, B Shares | 36,051 | 633,492 |
Trelleborg AB, B Shares | 16,894 | 284,633 |
Volvo AB, A Shares | 20,027 | 207,425 |
Volvo AB, B Shares | 166,227 | 1,719,308 |
7,559,939 | ||
Commercial & Professional Supplies 0.0% | ||
Securitas AB, B Shares | 36,745 | 479,731 |
Consumer Durables & Apparel 0.1% | ||
Electrolux AB, B Shares | 25,925 | 762,723 |
Husqvarna AB, B Shares (c) | 49,332 | 324,766 |
1,087,489 | ||
Food, Beverage & Tobacco 0.1% | ||
Swedish Match AB | 15,982 | 502,406 |
Health Care Equipment & Services 0.0% | ||
Getinge AB, B Shares | 13,584 | 339,486 |
Household & Personal Products 0.1% | ||
Svenska Cellulosa AB, S.C.A., B Shares | 51,761 | 1,524,567 |
Materials 0.1% | ||
Boliden AB | 34,547 | 661,449 |
SSAB AB, A Shares *(c) | 56,874 | 205,052 |
SSAB AB, B Shares * | 26,715 | 84,317 |
950,818 | ||
Retailing 0.2% | ||
Hennes & Mauritz AB, B Shares | 52,973 | 2,059,212 |
Technology Hardware & Equipment 0.2% | ||
Telefonaktiebolaget LM Ericsson, B Shares | 287,650 | 2,799,554 |
Telecommunication Services 0.2% | ||
Tele2 AB, B Shares | 82,206 | 820,959 |
TeliaSonera AB | 327,324 | 1,672,468 |
2,493,427 | ||
25,599,204 | ||
Switzerland 5.7% | ||
Capital Goods 0.5% | ||
ABB Ltd. - Reg'd * | 183,877 | 3,468,968 |
Geberit AG - Reg'd | 1,289 | 415,985 |
Schindler Holding AG | 1,793 | 290,902 |
Schindler Holding AG - Reg'd | 150 | 24,414 |
Wolseley plc | 25,282 | 1,484,338 |
5,684,607 |
Security | Number of Shares | Value ($) |
Commercial & Professional Supplies 0.1% | ||
Adecco S.A. - Reg'd * | 15,298 | 1,137,181 |
SGS S.A. - Reg'd | 299 | 569,327 |
1,706,508 | ||
Consumer Durables & Apparel 0.2% | ||
Cie Financiere Richemont S.A. - Reg'd | 19,933 | 1,709,206 |
The Swatch Group AG - Bearer Shares | 1,569 | 612,757 |
The Swatch Group AG - Reg'd | 3,439 | 248,439 |
2,570,402 | ||
Diversified Financials 0.3% | ||
Credit Suisse Group AG - Reg'd * | 87,100 | 2,172,380 |
UBS Group AG - Reg’d | 52,059 | 1,039,745 |
3,212,125 | ||
Energy 0.1% | ||
Transocean Ltd. (c) | 103,847 | 1,589,628 |
Food, Beverage & Tobacco 1.2% | ||
Aryzta AG * | 5,957 | 268,244 |
Chocoladefabriken Lindt & Sprungli AG | 29 | 176,992 |
Chocoladefabriken Lindt & Sprungli AG - Reg'd | 3 | 222,582 |
Coca-Cola HBC AG CDI * | 18,630 | 443,883 |
Nestle S.A. - Reg'd | 175,273 | 13,386,289 |
14,497,990 | ||
Insurance 0.6% | ||
Baloise Holding AG - Reg'd | 2,785 | 333,913 |
Swiss Life Holding AG - Reg'd * | 1,985 | 473,005 |
Swiss Re AG | 27,199 | 2,524,904 |
Zurich Insurance Group AG * | 13,668 | 3,606,984 |
6,938,806 | ||
Materials 0.7% | ||
Clariant AG - Reg'd * | 19,430 | 357,285 |
Givaudan S.A. - Reg'd * | 339 | 606,200 |
Glencore plc * | 1,601,387 | 2,764,716 |
LafargeHolcim Ltd. * | 39,648 | 2,232,767 |
Sika AG | 116 | 380,428 |
Syngenta AG - Reg'd | 5,154 | 1,731,591 |
8,072,987 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.6% | ||
Actelion Ltd. - Reg'd * | 2,138 | 296,785 |
Lonza Group AG - Reg'd * | 2,432 | 356,968 |
Novartis AG - Reg'd | 109,357 | 9,906,503 |
Roche Holding AG | 29,908 | 8,119,988 |
Roche Holding AG - Bearer Shares | 990 | 270,850 |
18,951,094 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
STMicroelectronics N.V. | 87,754 | 604,607 |
Technology Hardware & Equipment 0.1% | ||
TE Connectivity Ltd. | 21,004 | 1,353,498 |
Telecommunication Services 0.1% | ||
Swisscom AG - Reg'd | 1,818 | 936,660 |
Security | Number of Shares | Value ($) |
Transportation 0.1% | ||
Kuehne & Nagel International AG - Reg'd | 3,874 | 536,772 |
66,655,684 | ||
United Kingdom 16.7% | ||
Automobiles & Components 0.1% | ||
Fiat Chrysler Automobiles N.V. * | 71,258 | 1,049,854 |
GKN plc | 110,573 | 488,581 |
1,538,435 | ||
Banks 2.2% | ||
Barclays plc | 1,549,673 | 5,521,143 |
HSBC Holdings plc | 1,691,283 | 13,213,936 |
Lloyds Banking Group plc | 3,024,374 | 3,432,695 |
Royal Bank of Scotland Group plc * | 182,517 | 891,895 |
Standard Chartered plc | 210,342 | 2,334,929 |
25,394,598 | ||
Capital Goods 0.7% | ||
BAE Systems plc | 326,849 | 2,210,966 |
Balfour Beatty plc * | 146,951 | 563,228 |
Bunzl plc | 18,384 | 525,719 |
Carillion plc (c) | 71,926 | 338,368 |
CNH Industrial N.V. | 43,787 | 296,406 |
Cobham plc | 93,299 | 398,348 |
DCC plc | 5,760 | 461,736 |
IMI plc | 20,176 | 295,864 |
Meggitt plc | 47,414 | 258,297 |
Rolls-Royce Holdings plc * | 148,083 | 1,565,905 |
Smiths Group plc | 31,360 | 463,939 |
The Weir Group plc | 15,376 | 252,595 |
Travis Perkins plc | 16,568 | 488,328 |
8,119,699 | ||
Commercial & Professional Supplies 0.2% | ||
AA plc | 22,559 | 96,205 |
Aggreko plc | 19,120 | 269,512 |
Babcock International Group plc | 21,545 | 319,385 |
Capita plc | 25,867 | 507,404 |
G4S plc | 158,657 | 592,642 |
Intertek Group plc | 8,199 | 331,133 |
Serco Group plc * | 202,226 | 291,743 |
2,408,024 | ||
Consumer Durables & Apparel 0.1% | ||
Barratt Developments plc | 41,255 | 388,642 |
Burberry Group plc | 17,758 | 362,727 |
Persimmon plc * | 10,712 | 328,510 |
Taylor Wimpey plc | 115,695 | 352,448 |
1,432,327 | ||
Consumer Services 0.3% | ||
Carnival plc | 10,952 | 609,541 |
Compass Group plc | 108,005 | 1,856,703 |
InterContinental Hotels Group plc | 11,663 | 466,047 |
Thomas Cook Group plc * | 211,603 | 400,180 |
Security | Number of Shares | Value ($) |
Whitbread plc | 5,476 | 418,169 |
William Hill plc | 56,814 | 277,211 |
4,027,851 | ||
Diversified Financials 0.1% | ||
3i Group plc | 15,781 | 121,562 |
ICAP plc | 43,467 | 294,240 |
Man Group plc | 296,017 | 759,778 |
1,175,580 | ||
Energy 2.8% | ||
Amec Foster Wheeler plc | 38,206 | 418,058 |
BG Group plc | 277,130 | 4,378,243 |
BP plc | 4,563,325 | 27,119,774 |
John Wood Group plc | 47,011 | 431,579 |
Petrofac Ltd. | 25,546 | 331,466 |
Subsea 7 S.A. * | 40,679 | 319,057 |
Tullow Oil plc * | 85,709 | 267,710 |
33,265,887 | ||
Food & Staples Retailing 0.9% | ||
Booker Group plc | 143,960 | 412,322 |
J. Sainsbury plc | 474,166 | 1,942,865 |
Tesco plc * | 2,144,110 | 6,047,028 |
WM Morrison Supermarkets plc | 885,266 | 2,295,487 |
10,697,702 | ||
Food, Beverage & Tobacco 1.5% | ||
Associated British Foods plc | 17,872 | 949,644 |
British American Tobacco plc | 122,825 | 7,296,978 |
Diageo plc | 108,013 | 3,114,007 |
Imperial Tobacco Group plc | 65,517 | 3,527,960 |
SABMiller plc | 36,724 | 2,255,712 |
Tate & Lyle plc | 55,500 | 509,439 |
17,653,740 | ||
Health Care Equipment & Services 0.1% | ||
Smith & Nephew plc | 42,204 | 720,657 |
Household & Personal Products 0.5% | ||
Reckitt Benckiser Group plc | 28,064 | 2,738,779 |
Unilever plc | 74,991 | 3,339,236 |
6,078,015 | ||
Insurance 0.8% | ||
Admiral Group plc | 14,761 | 366,311 |
Amlin plc | 42,043 | 426,611 |
Aviva plc | 309,642 | 2,314,131 |
Direct Line Insurance Group plc | 128,283 | 778,146 |
Legal & General Group plc | 226,850 | 913,525 |
Old Mutual plc | 330,885 | 1,081,467 |
Phoenix Group Holdings | 22,000 | 289,298 |
Prudential plc | 76,961 | 1,797,538 |
RSA Insurance Group plc | 114,802 | 742,989 |
Standard Life plc | 113,520 | 733,942 |
Willis Group Holdings plc | 7,531 | 335,958 |
9,779,916 | ||
Materials 1.3% | ||
Anglo American plc | 284,925 | 2,390,438 |
Antofagasta plc | 51,357 | 415,176 |
BHP Billiton plc | 273,834 | 4,376,969 |
DS Smith plc | 58,211 | 346,839 |
Johnson Matthey plc | 21,712 | 863,577 |
Security | Number of Shares | Value ($) |
KAZ Minerals plc * | 103,222 | 184,604 |
Mondi plc | 28,002 | 647,522 |
Rexam plc | 88,342 | 734,545 |
Rio Tinto plc | 142,295 | 5,185,973 |
Vedanta Resources plc | 39,643 | 301,781 |
15,447,424 | ||
Media 0.5% | ||
Informa plc | 45,102 | 394,433 |
ITV plc | 104,308 | 404,954 |
Liberty Global plc, Class A * | 7,695 | 342,581 |
Liberty Global plc, Series C * | 19,471 | 830,243 |
Pearson plc | 62,595 | 830,998 |
RELX plc | 38,572 | 689,710 |
Sky plc | 59,819 | 1,009,489 |
WPP plc | 60,957 | 1,366,462 |
5,868,870 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.5% | ||
AstraZeneca plc | 124,668 | 7,945,402 |
GlaxoSmithKline plc | 433,663 | 9,352,249 |
17,297,651 | ||
Real Estate 0.1% | ||
Land Securities Group plc | 26,916 | 554,515 |
Retailing 0.5% | ||
Home Retail Group plc | 373,146 | 644,958 |
Inchcape plc | 50,759 | 624,257 |
Kingfisher plc | 316,905 | 1,722,621 |
Marks & Spencer Group plc | 180,679 | 1,426,689 |
Next plc | 7,826 | 963,811 |
5,382,336 | ||
Software & Services 0.1% | ||
The Sage Group plc | 72,758 | 610,044 |
Telecommunication Services 1.3% | ||
BT Group plc | 483,195 | 3,450,743 |
Inmarsat plc | 23,392 | 354,550 |
Vodafone Group plc | 3,302,898 | 10,869,613 |
14,674,906 | ||
Transportation 0.1% | ||
easyJet plc | 11,676 | 314,530 |
FirstGroup plc * | 361,443 | 537,968 |
International Consolidated Airlines Group S.A. * | 39,186 | 351,198 |
Royal Mail plc | 56,018 | 383,783 |
1,587,479 | ||
Utilities 1.0% | ||
Centrica plc | 862,164 | 2,999,964 |
Drax Group plc | 76,855 | 308,178 |
National Grid plc | 294,490 | 4,194,974 |
Pennon Group plc | 26,994 | 336,828 |
Severn Trent plc | 19,814 | 683,341 |
SSE plc | 121,596 | 2,828,880 |
United Utilities Group plc | 51,010 | 776,227 |
12,128,392 | ||
195,844,048 | ||
Total Common Stock | ||
(Cost $1,164,973,487) | 1,158,703,379 | |
Security | Number of Shares | Value ($) |
Preferred Stock 0.5% of net assets | ||
Germany 0.3% | ||
Automobiles & Components 0.2% | ||
Bayerische Motoren Werke AG | 5,342 | 431,992 |
Volkswagen AG | 18,962 | 2,276,104 |
2,708,096 | ||
Household & Personal Products 0.1% | ||
Henkel AG & Co. KGaA | 8,964 | 972,177 |
Utilities 0.0% | ||
RWE AG, Non Voting Shares | 17,183 | 188,653 |
3,868,926 | ||
Italy 0.2% | ||
Banks 0.0% | ||
Intesa Sanpaolo S.p.A. - RSP | 87,221 | 278,271 |
Telecommunication Services 0.2% | ||
Telecom Italia S.p.A. - RSP | 1,550,399 | 1,742,504 |
2,020,775 | ||
United Kingdom 0.0% | ||
Capital Goods 0.0% | ||
Rolls-Royce Holdings plc *(a) | 13,727,294 | 21,162 |
Total Preferred Stock | ||
(Cost $6,784,733) | 5,910,863 | |
Rights 0.0% of net assets | ||
Spain 0.0% | ||
Banks 0.0% | ||
Banco Santander S.A. * | 2,247,842 | 123,592 |
Total Rights | ||
(Cost $127,301) | 123,592 | |
Other Investment Company 1.3% of net assets | ||
United States 1.3% | ||
Securities Lending Collateral 1.3% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (d) | 15,802,505 | 15,802,505 |
Total Other Investment Company | ||
(Cost $15,802,505) | 15,802,505 |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 0.1% of net assets | ||
Time Deposits 0.1% | ||
Brown Brothers Harriman | ||
Hong Kong Dollar | ||
0.01%, 11/02/15 | 4,620 | 596 |
Japanese Yen | ||
0.01%, 11/02/15 | 427,171 | 3,540 |
Norwegian Krone | ||
0.12%, 11/02/15 | 86,040 | 10,126 |
Singapore Dollar | ||
0.10%, 11/02/15 | 438 | 313 |
Swedish Krona | ||
(0.64%), 11/02/15 | 55,748 | 6,525 |
Swiss Franc | ||
(1.00%), 11/02/15 | 9,425 | 9,535 |
DNB | ||
Euro | ||
(0.24%), 11/02/15 | 19,928 | 21,914 |
Great British Pound | ||
0.08%, 11/02/15 | 55,779 | 85,989 |
JPMorgan Chase Bank | ||
U.S. Dollar | ||
0.03%, 11/02/15 | 603,883 | 603,883 |
Royal Bank of Canada | ||
Canadian Dollar | ||
0.05%, 11/02/15 | 159,402 | 121,905 |
Total Short-Term Investments | ||
(Cost $864,326) | 864,326 |
* | Non-income producing security. |
(a) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(b) | Illiquid security. At the period end, the value of these amounted to $0 or 0.0% of net assets. |
(c) | All or a portion of this security is on loan. Securities on loan were valued at $14,961,672. |
(d) | The rate shown is the 7-day yield. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
SDR — | Swedish Depositary Receipt |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/18/15 | 52 | 4,568,460 | 9,419 |
Holdings by Category | Cost ($) | Value ($) | |
98.4% | Common Stock | 397,890,536 | 420,007,227 |
0.4% | Preferred Stock | 1,652,774 | 1,786,493 |
0.0% | Rights | — | 1,967 |
4.9% | Other Investment Companies | 20,702,382 | 20,844,674 |
0.0% | Short-Term Investments | 153,640 | 153,640 |
103.7% | Total Investments | 420,399,332 | 442,794,001 |
(3.7%) | Other Assets and Liabilities, Net | (15,810,164) | |
100.0% | Net Assets | 426,983,837 |
Security | Number of Shares | Value ($) |
Common Stock 98.4% of net assets | ||
Australia 5.3% | ||
Banks 0.1% | ||
Bank of Queensland Ltd. | 47,611 | 441,382 |
Capital Goods 0.2% | ||
Cardno Ltd. (a) | 103,306 | 223,409 |
GWA Group Ltd. (a) | 112,580 | 197,980 |
Monadelphous Group Ltd. (a) | 61,960 | 303,583 |
Seven Group Holdings Ltd. | 42,752 | 152,893 |
877,865 | ||
Commercial & Professional Supplies 0.4% | ||
ALS Ltd. | 143,105 | 520,921 |
Cabcharge Australia Ltd. | 46,893 | 93,852 |
Mineral Resources Ltd. | 48,258 | 145,569 |
Recall Holdings Ltd. | 21,066 | 114,208 |
SAI Global Ltd. | 50,138 | 156,081 |
Seek Ltd. | 17,769 | 161,420 |
Spotless Group Holdings Ltd. | 83,810 | 127,984 |
Transfield Services Ltd. * | 442,719 | 314,078 |
Transpacific Industries Group Ltd. | 588,838 | 283,113 |
1,917,226 | ||
Consumer Durables & Apparel 0.1% | ||
Billabong International Ltd. * | 445,294 | 232,436 |
G.U.D. Holdings Ltd. | 34,324 | 195,746 |
428,182 |
Security | Number of Shares | Value ($) |
Consumer Services 0.5% | ||
Ardent Leisure Group | 117,962 | 233,109 |
Aristocrat Leisure Ltd. | 30,662 | 202,397 |
Crown Resorts Ltd. | 81,353 | 659,327 |
Echo Entertainment Group Ltd. | 140,991 | 509,571 |
Flight Centre Travel Group Ltd. | 8,680 | 233,523 |
InvoCare Ltd. | 7,165 | 56,401 |
Navitas Ltd. | 51,463 | 152,961 |
2,047,289 | ||
Diversified Financials 0.3% | ||
ASX Ltd. | 19,286 | 563,803 |
Challenger Ltd. | 64,618 | 376,802 |
IOOF Holdings Ltd. | 32,159 | 212,819 |
Perpetual Ltd. | 6,444 | 204,896 |
1,358,320 | ||
Energy 0.1% | ||
AWE Ltd. * | 244,016 | 108,990 |
Beach Energy Ltd. | 419,260 | 190,449 |
Whitehaven Coal Ltd. *(a) | 261,993 | 188,151 |
487,590 | ||
Food, Beverage & Tobacco 0.3% | ||
Bega Cheese Ltd. | 38,831 | 159,704 |
GrainCorp Ltd., Class A | 76,345 | 489,419 |
Treasury Wine Estates Ltd. | 153,674 | 769,147 |
1,418,270 | ||
Health Care Equipment & Services 0.6% | ||
Ansell Ltd. | 22,294 | 317,243 |
Australian Pharmaceutical Industries Ltd. | 119,332 | 167,934 |
Cochlear Ltd. | 6,509 | 410,804 |
Healthscope Ltd. | 47,620 | 91,167 |
Primary Health Care Ltd. | 150,659 | 395,820 |
Ramsay Health Care Ltd. | 10,289 | 452,280 |
Sigma Pharmaceuticals Ltd. | 1,046,205 | 620,800 |
2,456,048 | ||
Insurance 0.1% | ||
nib Holdings Ltd. | 98,994 | 253,793 |
Materials 0.7% | ||
Adelaide Brighton Ltd. | 112,696 | 334,743 |
CSR Ltd. | 231,055 | 452,334 |
DuluxGroup Ltd. | 42,500 | 177,685 |
Iluka Resources Ltd. | 123,605 | 560,510 |
Nufarm Ltd. | 65,835 | 390,002 |
OceanaGold Corp. | 76,972 | 147,163 |
Orora Ltd. | 115,726 | 191,347 |
OZ Minerals Ltd. | 227,154 | 697,087 |
Western Areas Ltd. | 36,625 | 61,718 |
3,012,589 | ||
Media 0.4% | ||
Amalgamated Holdings Ltd. | 8,937 | 88,997 |
APN News & Media Ltd. * | 366,859 | 133,645 |
Fairfax Media Ltd. | 1,074,649 | 718,742 |
Nine Entertainment Co. Holdings Ltd. | 91,900 | 100,814 |
Seven West Media Ltd. | 463,725 | 222,004 |
Southern Cross Media Group Ltd. | 258,699 | 179,595 |
Security | Number of Shares | Value ($) |
Ten Network Holdings Ltd. * | 971,164 | 113,800 |
Village Roadshow Ltd. | 32,125 | 171,156 |
1,728,753 | ||
Real Estate 0.6% | ||
Charter Hall Retail REIT | 44,770 | 134,679 |
Dexus Property Group | 122,978 | 675,071 |
Federation Centres (b) | 160,399 | 331,346 |
Goodman Group | 140,692 | 603,621 |
Investa Office Fund | 74,993 | 214,636 |
The GPT Group | 183,477 | 621,405 |
2,580,758 | ||
Retailing 0.5% | ||
Automotive Holdings Group Ltd. | 91,270 | 274,853 |
Burson Group Ltd. | 28,400 | 72,209 |
Harvey Norman Holdings Ltd. | 137,357 | 385,913 |
JB Hi-Fi Ltd. (a) | 32,023 | 407,449 |
Myer Holdings Ltd. (a) | 680,415 | 462,628 |
Premier Investments Ltd. | 25,543 | 247,961 |
Super Retail Group Ltd. | 28,409 | 194,022 |
2,045,035 | ||
Software & Services 0.2% | ||
carsales.com Ltd. | 9,924 | 69,007 |
Computershare Ltd. | 74,293 | 569,415 |
IRESS Ltd. | 17,270 | 115,019 |
753,441 | ||
Transportation 0.1% | ||
Qube Holdings Ltd. | 39,612 | 64,217 |
Sydney Airport | 118,526 | 541,676 |
Virgin Australia International Holdings (b)(c) | 176,214 | — |
605,893 | ||
Utilities 0.1% | ||
AusNet Services | 413,996 | 424,609 |
22,837,043 | ||
Austria 0.9% | ||
Capital Goods 0.4% | ||
ANDRITZ AG | 12,515 | 628,781 |
Wienerberger AG | 38,076 | 702,012 |
Zumtobel Group AG | 7,217 | 164,016 |
1,494,809 | ||
Energy 0.0% | ||
Schoeller-Bleckmann Oilfield Equipment AG | 2,257 | 135,669 |
Insurance 0.1% | ||
UNIQA Insurance Group AG | 8,179 | 75,953 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 9,761 | 312,369 |
388,322 | ||
Materials 0.1% | ||
Lenzing AG | 2,773 | 211,834 |
RHI AG | 9,014 | 203,395 |
415,229 | ||
Real Estate 0.1% | ||
IMMOFINANZ AG * | 117,934 | 301,894 |
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 0.0% | ||
ams AG | 1,517 | 48,544 |
Telecommunication Services 0.1% | ||
Telekom Austria AG | 98,264 | 592,363 |
Transportation 0.1% | ||
Oesterreichische Post AG | 10,134 | 368,446 |
Utilities 0.0% | ||
Verbund AG (a) | 10,872 | 153,866 |
3,899,142 | ||
Belgium 1.0% | ||
Diversified Financials 0.1% | ||
Ackermans & van Haaren N.V. | 1,316 | 200,263 |
Gimv N.V. | 7,016 | 329,647 |
529,910 | ||
Health Care Equipment & Services 0.0% | ||
Fagron | 2,993 | 73,433 |
Household & Personal Products 0.0% | ||
Ontex Group N.V. | 2,672 | 82,079 |
Materials 0.3% | ||
Bekaert N.V. | 27,493 | 815,452 |
Nyrstar N.V. *(a) | 127,099 | 194,194 |
Tessenderlo Chemie N.V. * | 11,673 | 376,477 |
1,386,123 | ||
Real Estate 0.1% | ||
Befimmo S.A. | 2,382 | 159,388 |
Cofinimmo S.A. | 2,632 | 293,306 |
452,694 | ||
Technology Hardware & Equipment 0.1% | ||
Barco N.V. | 4,364 | 286,781 |
EVS Broadcast Equipment S.A. | 5,231 | 152,366 |
439,147 | ||
Telecommunication Services 0.2% | ||
Mobistar S.A. * | 26,271 | 641,673 |
Transportation 0.1% | ||
bpost S.A. | 13,996 | 350,287 |
Utilities 0.1% | ||
Elia System Operator S.A./N.V. | 8,850 | 428,086 |
4,383,432 | ||
Canada 7.4% | ||
Automobiles & Components 0.1% | ||
Linamar Corp. | 6,832 | 397,035 |
Martinrea International, Inc. | 24,171 | 204,999 |
602,034 | ||
Banks 0.2% | ||
Canadian Western Bank | 11,739 | 225,605 |
Genworth MI Canada, Inc. (a) | 12,305 | 304,237 |
Home Capital Group, Inc. (a) | 7,970 | 194,130 |
Laurentian Bank of Canada | 6,311 | 255,655 |
979,627 | ||
Capital Goods 0.7% | ||
Aecon Group, Inc. | 33,272 | 384,475 |
Ag Growth International, Inc. | 1,862 | 48,757 |
Security | Number of Shares | Value ($) |
ATS Automation Tooling Systems, Inc. * | 12,056 | 126,959 |
Bird Construction, Inc. | 19,012 | 190,614 |
CAE, Inc. | 40,119 | 452,858 |
MacDonald, Dettwiler & Associates Ltd. | 5,199 | 309,888 |
New Flyer Industries, Inc. | 12,364 | 179,276 |
Russel Metals, Inc. (a) | 30,317 | 472,979 |
Toromont Industries Ltd. | 13,981 | 363,852 |
Wajax Corp. | 13,617 | 249,826 |
WSP Global, Inc. | 8,223 | 286,258 |
3,065,742 | ||
Commercial & Professional Supplies 0.4% | ||
Horizon North Logistics, Inc. | 29,394 | 50,579 |
Morneau Shepell, Inc. | 11,957 | 141,461 |
Progressive Waste Solutions Ltd. | 19,885 | 478,116 |
Ritchie Bros. Auctioneers, Inc. | 9,355 | 242,818 |
Stantec, Inc. | 12,048 | 302,398 |
Transcontinental, Inc., Class A | 36,420 | 561,229 |
1,776,601 | ||
Consumer Durables & Apparel 0.2% | ||
Dorel Industries, Inc., Class B | 17,436 | 443,367 |
Gildan Activewear, Inc. | 17,999 | 517,423 |
960,790 | ||
Consumer Services 0.1% | ||
EnerCare, Inc. | 7,067 | 82,528 |
Great Canadian Gaming Corp. * | 8,827 | 121,847 |
204,375 | ||
Diversified Financials 0.1% | ||
AGF Management Ltd., Class B (a) | 72,846 | 302,503 |
Canaccord Genuity Group, Inc. | 14,921 | 57,854 |
Dundee Corp., Class A * | 21,626 | 124,371 |
484,728 | ||
Energy 1.4% | ||
AltaGas Ltd. | 17,749 | 458,249 |
Bankers Petroleum Ltd. * | 36,381 | 61,210 |
Bonterra Energy Corp. | 3,622 | 60,136 |
Calfrac Well Services Ltd. | 46,322 | 81,832 |
Canadian Energy Services & Technology Corp. (a) | 12,642 | 54,625 |
Canyon Services Group, Inc. (a) | 14,895 | 55,589 |
Crew Energy, Inc. * | 17,816 | 60,631 |
Enbridge Income Fund Holdings, Inc. | 5,155 | 126,707 |
Enerflex Ltd. | 32,949 | 318,000 |
Ensign Energy Services, Inc. | 69,489 | 436,830 |
Gran Tierra Energy, Inc. * | 90,251 | 218,104 |
Keyera Corp. | 20,774 | 641,045 |
MEG Energy Corp. * | 14,762 | 122,828 |
Mullen Group Ltd. | 30,692 | 409,821 |
Newalta Corp. | 16,226 | 92,571 |
NuVista Energy Ltd. * | 28,805 | 101,774 |
Parkland Fuel Corp. | 29,162 | 507,369 |
Pason Systems, Inc. | 10,996 | 161,795 |
Peyto Exploration & Development Corp. (a) | 14,302 | 295,315 |
Precision Drilling Corp. | 112,800 | 448,578 |
Secure Energy Services, Inc. | 8,631 | 57,360 |
Security | Number of Shares | Value ($) |
ShawCor Ltd. | 18,196 | 386,157 |
Tourmaline Oil Corp. * | 2,877 | 59,868 |
Trican Well Service Ltd. | 209,856 | 139,626 |
Trinidad Drilling Ltd. | 101,796 | 176,718 |
Veresen, Inc. | 35,496 | 308,920 |
5,841,658 | ||
Food & Staples Retailing 0.2% | ||
Liquor Stores N.A. Ltd. | 8,752 | 81,389 |
The Jean Coutu Group (PJC), Inc., Class A | 20,014 | 305,047 |
The North West Co., Inc. | 18,115 | 401,755 |
788,191 | ||
Food, Beverage & Tobacco 0.2% | ||
Cott Corp. | 36,000 | 375,803 |
Maple Leaf Foods, Inc. | 27,063 | 430,284 |
806,087 | ||
Insurance 0.1% | ||
Industrial Alliance Insurance & Financial Services, Inc. | 15,224 | 499,472 |
Materials 1.8% | ||
Agnico-Eagle Mines Ltd. | 25,696 | 726,311 |
Alamos Gold, Inc., Class A | 27,630 | 106,285 |
Canfor Corp. * | 14,295 | 202,247 |
Cascades, Inc. | 57,219 | 407,832 |
CCL Industries, Inc., Class B | 2,438 | 345,396 |
Centerra Gold, Inc. | 63,977 | 360,103 |
Chemtrade Logistics Income Fund | 13,226 | 188,033 |
Dominion Diamond Corp. | 10,787 | 114,090 |
Eldorado Gold Corp. | 114,908 | 401,598 |
Franco-Nevada Corp. | 5,882 | 298,328 |
HudBay Minerals, Inc. | 47,156 | 244,868 |
IAMGOLD Corp. * | 353,368 | 637,770 |
Interfor Corp. * | 6,295 | 59,792 |
Labrador Iron Ore Royalty Corp. | 11,786 | 137,095 |
Lundin Mining Corp. * | 105,725 | 356,567 |
Major Drilling Group International, Inc. | 42,005 | 133,314 |
Methanex Corp. | 12,975 | 517,670 |
Nevsun Resources Ltd. | 43,165 | 129,072 |
New Gold, Inc. * | 74,092 | 183,587 |
Pan American Silver Corp. | 46,030 | 349,203 |
Resolute Forest Products, Inc. * | 48,053 | 358,956 |
SEMAFO, Inc. * | 62,700 | 142,413 |
Sherritt International Corp. (a) | 413,160 | 259,094 |
Silver Wheaton Corp. | 25,162 | 341,946 |
West Fraser Timber Co., Ltd. | 13,186 | 466,592 |
7,468,162 | ||
Media 0.4% | ||
Aimia, Inc. | 48,999 | 453,417 |
Cineplex, Inc. | 11,260 | 433,918 |
Cogeco Cable, Inc. | 4,631 | 239,165 |
Cogeco, Inc. | 1,945 | 82,435 |
Corus Entertainment, Inc., Class B | 27,543 | 262,665 |
Entertainment One Ltd. | 35,553 | 120,172 |
1,591,772 |
Security | Number of Shares | Value ($) |
Real Estate 0.5% | ||
Artis Real Estate Investment Trust | 7,073 | 72,428 |
Boardwalk Real Estate Investment Trust | 3,477 | 142,845 |
Canadian Apartment Properties REIT | 3,099 | 63,800 |
Canadian Real Estate Investment Trust | 4,551 | 148,231 |
Colliers International Group, Inc. | 2,634 | 130,592 |
Cominar Real Estate Investment Trust | 11,713 | 137,768 |
Dream Office Real Estate Investment Trust | 9,017 | 144,744 |
First Capital Realty, Inc. | 13,378 | 198,174 |
Granite Real Estate Investment Trust | 7,404 | 215,790 |
H&R Real Estate Investment Trust | 15,104 | 242,339 |
RioCan Real Estate Investment Trust | 21,520 | 419,670 |
Smart Real Estate Investment Trust | 8,925 | 211,999 |
2,128,380 | ||
Retailing 0.2% | ||
Dollarama, Inc. | 8,900 | 601,206 |
Hudson's Bay Co. | 16,000 | 278,128 |
Uni-Select, Inc. | 3,210 | 159,076 |
1,038,410 | ||
Software & Services 0.2% | ||
Constellation Software, Inc. | 588 | 254,068 |
DH Corp. | 11,291 | 304,812 |
Open Text Corp. | 6,375 | 295,495 |
854,375 | ||
Telecommunication Services 0.0% | ||
Manitoba Telecom Services, Inc. | 7,776 | 170,851 |
Transportation 0.2% | ||
Air Canada * | 6,936 | 57,075 |
Exchange Income Corp. | 3,730 | 70,800 |
TransForce, Inc. | 24,770 | 484,565 |
Westshore Terminals Investment Corp. | 8,556 | 142,709 |
755,149 | ||
Utilities 0.4% | ||
Capital Power Corp. | 31,999 | 459,821 |
Just Energy Group, Inc. | 58,614 | 430,774 |
Northland Power, Inc. (a) | 15,746 | 203,508 |
Superior Plus Corp. | 55,843 | 456,105 |
1,550,208 | ||
31,566,612 | ||
Denmark 1.5% | ||
Banks 0.2% | ||
Jyske Bank A/S - Reg'd * | 7,777 | 379,359 |
Sydbank A/S | 10,764 | 354,069 |
733,428 |
Security | Number of Shares | Value ($) |
Capital Goods 0.2% | ||
NKT Holding A/S | 7,197 | 391,669 |
PER Aarsleff A/S, Class B | 182 | 61,078 |
Rockwool International A/S, B Shares | 2,106 | 329,961 |
782,708 | ||
Consumer Durables & Apparel 0.1% | ||
Pandora A/S | 5,632 | 649,918 |
Food, Beverage & Tobacco 0.1% | ||
Royal Unibrew A/S | 4,188 | 165,834 |
Schouw & Co. | 3,876 | 202,541 |
368,375 | ||
Health Care Equipment & Services 0.2% | ||
Coloplast A/S, Class B | 7,429 | 532,839 |
GN Store Nord A/S | 17,401 | 317,389 |
William Demant Holding A/S * | 2,452 | 213,024 |
1,063,252 | ||
Insurance 0.1% | ||
Topdanmark A/S * | 7,961 | 211,843 |
Tryg A/S | 13,657 | 245,433 |
457,276 | ||
Materials 0.2% | ||
Chr. Hansen Holding A/S | 5,739 | 344,816 |
Novozymes A/S, B Shares | 14,249 | 660,542 |
1,005,358 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
H. Lundbeck A/S * | 15,831 | 465,064 |
Retailing 0.0% | ||
Matas A/S | 3,324 | 60,330 |
Software & Services 0.1% | ||
SimCorp A/S | 6,209 | 304,638 |
Transportation 0.2% | ||
D/S Norden A/S *(a) | 19,189 | 382,613 |
Dfds A/S | 9,130 | 277,305 |
659,918 | ||
6,550,265 | ||
Finland 1.6% | ||
Capital Goods 0.6% | ||
Cargotec Oyj, B Shares | 12,064 | 430,062 |
Cramo Oyj | 12,928 | 237,399 |
Konecranes Oyj | 13,514 | 362,286 |
Outotec Oyj (a) | 74,554 | 256,432 |
PKC Group Oyj | 3,124 | 57,500 |
Ramirent Oyj | 25,883 | 201,163 |
Uponor Oyj | 14,172 | 188,682 |
Valmet Oyj | 14,838 | 156,168 |
Yit Oyj (a) | 108,701 | 572,969 |
2,462,661 | ||
Commercial & Professional Supplies 0.1% | ||
Caverion Corp. | 35,891 | 312,488 |
Lassila & Tikanoja Oyj | 4,608 | 89,081 |
401,569 |
Security | Number of Shares | Value ($) |
Consumer Durables & Apparel 0.2% | ||
Amer Sports Oyj | 21,860 | 613,513 |
Fiskars Oyj Abp | 3,718 | 76,978 |
690,491 | ||
Health Care Equipment & Services 0.0% | ||
Oriola-KD Oyj, B Shares * | 15,184 | 74,197 |
Materials 0.4% | ||
Huhtamaki Oyj | 20,523 | 724,038 |
Kemira Oyj | 31,087 | 368,210 |
Metsa Board Oyj | 41,208 | 262,174 |
Outokumpu Oyj *(a) | 74,507 | 252,999 |
Tikkurila Oyj | 10,757 | 197,425 |
1,804,846 | ||
Media 0.1% | ||
Sanoma Oyj (a) | 99,883 | 437,890 |
Real Estate 0.0% | ||
Sponda Oyj | 35,264 | 149,800 |
Retailing 0.1% | ||
Stockmann Oyj Abp, B Shares *(a) | 32,584 | 253,860 |
Software & Services 0.1% | ||
Tieto Oyj | 24,589 | 630,543 |
6,905,857 | ||
France 4.3% | ||
Automobiles & Components 0.1% | ||
Plastic Omnium S.A. | 10,465 | 302,072 |
Banks 0.1% | ||
Natixis S.A. | 96,684 | 591,849 |
Capital Goods 0.1% | ||
Saft Groupe S.A. | 6,794 | 175,119 |
Tarkett S.A. | 2,560 | 76,430 |
251,549 | ||
Commercial & Professional Supplies 0.3% | ||
Derichebourg S.A. * | 69,715 | 213,946 |
Edenred | 28,859 | 529,877 |
Elior (d) | 4,661 | 88,370 |
Societe BIC S.A. | 4,171 | 664,681 |
1,496,874 | ||
Consumer Durables & Apparel 0.2% | ||
SEB S.A. | 7,060 | 717,053 |
Diversified Financials 0.1% | ||
Coface S.A. | 9,909 | 80,231 |
Eurazeo S.A. | 7,966 | 560,911 |
641,142 | ||
Energy 0.1% | ||
Bourbon S.A. (a) | 14,482 | 213,405 |
Etablissements Maurel et Prom * | 30,902 | 111,165 |
324,570 | ||
Food, Beverage & Tobacco 0.1% | ||
Remy Cointreau S.A. | 4,069 | 282,656 |
Vilmorin & Cie S.A. | 2,220 | 156,483 |
439,139 |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 0.1% | ||
BioMerieux | 2,791 | 324,240 |
Orpea | 4,540 | 364,213 |
688,453 | ||
Insurance 0.1% | ||
Euler Hermes Group | 3,145 | 294,829 |
Materials 0.2% | ||
Eramet *(a) | 2,806 | 110,699 |
Imerys S.A. | 8,792 | 601,641 |
Vicat S.A. | 5,337 | 341,928 |
1,054,268 | ||
Media 0.7% | ||
Havas S.A. | 38,836 | 336,350 |
IPSOS | 10,463 | 212,246 |
JC Decaux S.A. | 11,552 | 469,219 |
Metropole Television S.A. | 27,018 | 519,712 |
Societe Television Francaise | 35,937 | 461,670 |
Solocal Group *(a) | 46,937 | 381,655 |
Technicolor S.A. - Reg'd (a) | 74,659 | 504,907 |
2,885,759 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Ipsen S.A. | 5,101 | 321,709 |
Real Estate 0.6% | ||
Fonciere Des Regions | 7,161 | 674,032 |
Gecina S.A. | 3,840 | 489,771 |
ICADE | 7,313 | 540,413 |
Mercialys S.A. | 9,481 | 217,797 |
Nexity S.A. | 13,024 | 576,316 |
2,498,329 | ||
Retailing 0.1% | ||
Groupe Fnac S.A. * | 4,815 | 312,341 |
Software & Services 0.6% | ||
Alten S.A. | 6,732 | 348,974 |
Altran Technologies S.A. | 26,612 | 331,755 |
Dassault Systemes S.A. | 7,343 | 579,275 |
Sopra Steria Group | 2,041 | 232,172 |
UBISOFT Entertainment * | 32,946 | 987,106 |
2,479,282 | ||
Technology Hardware & Equipment 0.2% | ||
Ingenico Group S.A. | 2,770 | 326,449 |
Neopost S.A. | 15,510 | 385,336 |
711,785 | ||
Telecommunication Services 0.1% | ||
Iliad S.A. | 2,071 | 434,942 |
Transportation 0.4% | ||
Aeroports de Paris | 4,766 | 598,724 |
Bollore S.A. | 83,017 | 410,388 |
Groupe Eurotunnel SE - Reg'd | 41,289 | 577,972 |
Norbert Dentressangle S.A. | 819 | 178,681 |
Stef S.A. | 1,356 | 99,876 |
1,865,641 | ||
18,311,586 | ||
Germany 3.3% | ||
Automobiles & Components 0.1% | ||
ElringKlinger AG | 6,649 | 148,774 |
Grammer AG | 5,173 | 137,954 |
Security | Number of Shares | Value ($) |
Hella KGaA Hueck & Co. | 1,504 | 61,876 |
SAF-Holland S.A. | 10,813 | 157,819 |
506,423 | ||
Banks 0.0% | ||
Aareal Bank AG | 4,397 | 167,517 |
Capital Goods 0.8% | ||
BayWa AG | 10,120 | 342,554 |
Deutz AG | 44,725 | 167,595 |
DMG Mori AG | 8,875 | 352,383 |
Duerr AG | 2,598 | 216,317 |
Heidelberger Druckmaschinen AG * | 92,636 | 265,937 |
Indus Holding AG | 6,438 | 299,684 |
KION Group AG * | 6,196 | 279,203 |
Krones AG | 2,059 | 247,645 |
KUKA AG (a) | 775 | 65,494 |
Norma Group SE | 4,269 | 218,927 |
Pfeiffer Vacuum Technology AG | 2,433 | 302,986 |
SGL Carbon SE *(a) | 12,389 | 227,298 |
Vossloh AG * | 4,011 | 294,757 |
Wacker Neuson SE | 3,506 | 48,755 |
3,329,535 | ||
Consumer Durables & Apparel 0.1% | ||
Gerry Weber International AG | 5,746 | 93,548 |
Puma SE | 872 | 195,231 |
288,779 | ||
Diversified Financials 0.0% | ||
Aurelius AG | 3,817 | 170,132 |
Health Care Equipment & Services 0.2% | ||
Carl Zeiss Meditec AG, Class B | 2,326 | 68,132 |
Rhoen-Klinikum AG | 19,631 | 585,606 |
653,738 | ||
Insurance 0.1% | ||
Talanx AG * | 9,093 | 291,365 |
Materials 0.2% | ||
Evonik Industries AG | 17,188 | 624,097 |
Wacker Chemie AG | 4,643 | 407,455 |
1,031,552 | ||
Media 0.2% | ||
Axel Springer SE | 9,702 | 545,250 |
Kabel Deutschland Holding AG | 1,865 | 237,242 |
782,492 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||
Gerresheimer AG | 6,019 | 469,330 |
STADA Arzneimittel AG | 15,103 | 574,553 |
1,043,883 | ||
Real Estate 0.2% | ||
Deutsche Euroshop AG | 4,696 | 226,416 |
Deutsche Wohnen AG | 3,634 | 102,439 |
LEG Immobilien AG * | 1,067 | 85,067 |
Vonovia SE | 7,465 | 248,838 |
662,760 | ||
Retailing 0.1% | ||
Fielmann AG | 3,189 | 223,258 |
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 0.2% | ||
Aixtron SE *(a) | 30,569 | 194,524 |
SMA Solar Technology AG *(a) | 13,678 | 659,380 |
853,904 | ||
Software & Services 0.3% | ||
Bechtle AG | 4,122 | 380,448 |
Software AG | 16,873 | 490,242 |
United Internet AG - Reg'd | 7,621 | 395,704 |
Wirecard AG | 3,662 | 189,157 |
1,455,551 | ||
Technology Hardware & Equipment 0.2% | ||
Jenoptik AG | 13,014 | 210,439 |
Wincor Nixdorf AG | 12,635 | 648,062 |
858,501 | ||
Telecommunication Services 0.2% | ||
Drillisch AG | 4,321 | 222,836 |
Telefonica Deutschland Holding AG | 113,621 | 731,453 |
954,289 | ||
Transportation 0.2% | ||
Fraport AG Frankfurt Airport Services Worldwide | 8,184 | 518,888 |
Hamburger Hafen und Logistik AG | 7,584 | 109,696 |
Sixt SE | 7,000 | 390,414 |
1,018,998 | ||
14,292,677 | ||
Greece 0.0% | ||
Banks 0.0% | ||
TT Hellenic Postbank S.A. *(b)(c) | 24,275 | — |
Hong Kong 2.3% | ||
Automobiles & Components 0.1% | ||
Xinyi Glass Holdings Ltd. | 430,000 | 222,767 |
Banks 0.1% | ||
The Bank of East Asia Ltd. | 142,200 | 531,322 |
Capital Goods 0.1% | ||
Hopewell Holdings Ltd. | 19,500 | 70,363 |
Johnson Electric Holdings Ltd. | 70,500 | 258,029 |
328,392 | ||
Consumer Durables & Apparel 0.2% | ||
Global Brands Group Holding Ltd. * | 830,000 | 172,080 |
Techtronic Industries Co., Ltd. | 155,500 | 568,457 |
740,537 | ||
Consumer Services 0.2% | ||
Cafe De Coral Holdings Ltd. | 54,000 | 182,650 |
MGM China Holdings Ltd. | 118,000 | 172,113 |
Wynn Macau Ltd. (a) | 272,000 | 373,411 |
728,174 | ||
Diversified Financials 0.1% | ||
First Pacific Co., Ltd. | 738,000 | 504,998 |
Sun Hung Kai & Co., Ltd. | 87,000 | 58,552 |
563,550 |
Security | Number of Shares | Value ($) |
Energy 0.0% | ||
Brightoil Petroleum Holdings Ltd. *(a) | 146,000 | 51,961 |
Food & Staples Retailing 0.1% | ||
Dairy Farm International Holdings Ltd. | 44,900 | 295,622 |
Food, Beverage & Tobacco 0.0% | ||
Vitasoy International Holdings Ltd. | 38,000 | 63,345 |
WH Group Ltd. *(d) | 216,000 | 119,113 |
182,458 | ||
Media 0.0% | ||
Television Broadcasts Ltd. | 51,600 | 188,056 |
Real Estate 0.6% | ||
China South City Holdings Ltd. | 222,000 | 52,943 |
Great Eagle Holdings Ltd. | 50,000 | 164,468 |
Hang Lung Group Ltd. | 106,000 | 384,335 |
Hang Lung Properties Ltd. | 196,000 | 479,577 |
Henderson Land Development Co., Ltd. | 61,144 | 390,512 |
Hysan Development Co., Ltd. | 39,000 | 172,986 |
Sino Land Co., Ltd. | 344,000 | 530,964 |
Swire Properties Ltd. | 85,600 | 256,941 |
2,432,726 | ||
Retailing 0.2% | ||
Chow Sang Sang Holdings International Ltd. | 129,000 | 250,950 |
Giordano International Ltd. | 442,000 | 237,181 |
Luk Fook Holdings International Ltd. | 98,000 | 252,177 |
Sa Sa International Holdings Ltd. (a) | 148,000 | 47,476 |
787,784 | ||
Technology Hardware & Equipment 0.1% | ||
VTech Holdings Ltd. | 41,100 | 498,472 |
Telecommunication Services 0.2% | ||
Hutchison Telecommunications Hong Kong Holdings Ltd. | 486,000 | 179,322 |
PCCW Ltd. | 1,168,000 | 628,899 |
SmarTone Telecommunications Holdings Ltd. | 37,500 | 66,386 |
874,607 | ||
Transportation 0.3% | ||
Cathay Pacific Airways Ltd. | 281,000 | 557,320 |
Orient Overseas International Ltd. | 107,000 | 509,549 |
Pacific Basin Shipping Ltd. | 1,028,000 | 304,077 |
1,370,946 | ||
9,797,374 | ||
Ireland 0.7% | ||
Capital Goods 0.1% | ||
Kingspan Group plc | 18,328 | 443,337 |
Consumer Services 0.1% | ||
Paddy Power plc | 3,411 | 394,691 |
Security | Number of Shares | Value ($) |
Food & Staples Retailing 0.1% | ||
Fyffes plc | 110,567 | 188,943 |
Total Produce plc | 86,419 | 131,618 |
320,561 | ||
Food, Beverage & Tobacco 0.1% | ||
C&C Group plc | 76,099 | 303,014 |
Glanbia plc | 15,555 | 301,422 |
604,436 | ||
Health Care Equipment & Services 0.1% | ||
UDG Healthcare plc | 55,098 | 403,385 |
Materials 0.1% | ||
James Hardie Industries plc CDI | 31,797 | 411,615 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
ICON plc * | 4,013 | 256,310 |
Transportation 0.0% | ||
Irish Continental Group plc | 33,548 | 182,611 |
3,016,946 | ||
Israel 1.0% | ||
Banks 0.1% | ||
Israel Discount Bank Ltd., Class A * | 198,313 | 362,731 |
Mizrahi Tefahot Bank Ltd. | 20,211 | 245,633 |
608,364 | ||
Capital Goods 0.1% | ||
Elbit Systems Ltd. | 4,110 | 325,744 |
IDB Development Corp., Ltd. * | 227,465 | 129,218 |
Shikun & Binui Ltd. | 32,803 | 59,853 |
514,815 | ||
Energy 0.2% | ||
Delek Group Ltd. | 1,302 | 313,383 |
Oil Refineries Ltd. * | 684,489 | 250,150 |
Paz Oil Co., Ltd. | 2,346 | 349,548 |
913,081 | ||
Food & Staples Retailing 0.1% | ||
Shufersal Ltd. * | 75,807 | 217,036 |
Insurance 0.0% | ||
Harel Insurance Investments & Finances Service Ltd. | 17,182 | 72,561 |
Materials 0.1% | ||
The Israel Corp., Ltd. | 1,364 | 351,870 |
Real Estate 0.0% | ||
Gazit-Globe Ltd. | 6,251 | 67,769 |
Software & Services 0.1% | ||
NICE-Systems Ltd. | 4,987 | 308,230 |
Telecommunication Services 0.3% | ||
B Communications Ltd. | 9,644 | 235,658 |
Cellcom Israel Ltd. * | 81,099 | 603,437 |
Partner Communications Co., Ltd. * | 102,655 | 464,822 |
1,303,917 | ||
4,357,643 |
Security | Number of Shares | Value ($) |
Italy 2.7% | ||
Automobiles & Components 0.1% | ||
Brembo S.p.A. | 1,476 | 65,056 |
Piaggio & C. S.p.A. | 67,146 | 166,611 |
231,667 | ||
Banks 0.5% | ||
Banca Carige S.p.A. * | 130,068 | 237,083 |
Banca Popolare Di Milano Scarl | 761,437 | 714,468 |
Banca Popolare Di Sondrio Scarl | 127,922 | 583,499 |
Credito Valtellinese Scarl * | 289,919 | 364,964 |
1,900,014 | ||
Capital Goods 0.2% | ||
Astaldi S.p.A. | 19,740 | 159,008 |
C.I.R. S.p.A. - Compagnie Industriali Riunite * | 266,469 | 294,275 |
Danieli & Co., Officine Meccaniche S.p.A. | 3,136 | 66,966 |
Interpump Group S.p.A. | 3,782 | 55,648 |
Salini Impregilo S.p.A. | 36,097 | 149,465 |
Trevi Finanziaria Industriale S.p.A. (a) | 47,484 | 61,301 |
786,663 | ||
Consumer Durables & Apparel 0.2% | ||
Brunello Cucinelli S.p.A. | 3,179 | 57,500 |
De'Longhi S.p.A. | 7,617 | 186,328 |
Prada S.p.A. (a) | 60,900 | 247,510 |
Safilo Group S.p.A. * | 14,622 | 181,571 |
Tod's S.p.A. | 2,435 | 203,937 |
876,846 | ||
Consumer Services 0.1% | ||
Autogrill S.p.A. * | 28,414 | 264,493 |
Diversified Financials 0.0% | ||
Banca Generali S.p.A. | 2,405 | 74,073 |
Energy 0.2% | ||
ERG S.p.A. | 34,188 | 485,314 |
Saras S.p.A. *(a) | 225,884 | 445,686 |
931,000 | ||
Food & Staples Retailing 0.0% | ||
MARR S.p.A. | 8,738 | 177,867 |
Food, Beverage & Tobacco 0.2% | ||
Davide Campari-Milano S.p.A. | 37,228 | 318,799 |
Parmalat S.p.A. | 123,435 | 321,150 |
639,949 | ||
Health Care Equipment & Services 0.0% | ||
DiaSorin S.p.A. | 759 | 33,983 |
Insurance 0.2% | ||
Mediolanum S.p.A. | 29,033 | 236,533 |
Societa Cattolica di Assicurazioni S.c.r.l. | 33,177 | 258,938 |
Unipol Gruppo Finanziario S.p.A. | 70,134 | 326,683 |
UnipolSai S.p.A. | 29,671 | 71,535 |
893,689 |
Security | Number of Shares | Value ($) |
Materials 0.3% | ||
Buzzi Unicem S.p.A. | 32,554 | 550,817 |
Italcementi S.p.A. | 75,183 | 835,018 |
1,385,835 | ||
Media 0.0% | ||
RCS MediaGroup S.p.A. *(a) | 162,431 | 129,614 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Recordati S.p.A. | 11,610 | 288,571 |
Real Estate 0.0% | ||
Beni Stabili S.p.A | 197,281 | 162,085 |
Technology Hardware & Equipment 0.0% | ||
Esprinet S.p.A. | 20,999 | 189,191 |
Transportation 0.2% | ||
Alitalia S.p.A. *(b)(c) | 14,782 | — |
Ansaldo STS S.p.A. | 19,450 | 206,939 |
ASTM S.p.A. | 19,517 | 261,582 |
Societa Iniziative Autostradali e Servizi S.p.A. | 27,325 | 313,666 |
782,187 | ||
Utilities 0.4% | ||
ACEA S.p.A. | 16,373 | 235,364 |
Enel Green Power S.p.A. | 278,690 | 589,196 |
Hera S.p.A. | 229,093 | 601,188 |
Iren S.p.A. | 269,132 | 443,357 |
1,869,105 | ||
11,616,832 | ||
Japan 40.1% | ||
Automobiles & Components 2.8% | ||
Aisan Industry Co., Ltd. | 16,200 | 162,026 |
Akebono Brake Industry Co., Ltd. (a) | 52,300 | 153,133 |
Calsonic Kansei Corp. | 98,000 | 781,028 |
Exedy Corp. | 15,200 | 349,572 |
F.C.C. Co., Ltd. | 20,200 | 357,233 |
Futaba Industrial Co., Ltd. | 69,400 | 298,364 |
G-Tekt Corp. | 16,600 | 205,054 |
HI-LEX Corp. | 4,300 | 131,773 |
Kasai Kogyo Co., Ltd. | 6,200 | 77,056 |
Keihin Corp. | 28,400 | 463,267 |
Koito Manufacturing Co., Ltd. | 20,400 | 772,769 |
KYB Corp. | 115,000 | 328,173 |
Mitsuba Corp. | 9,600 | 150,794 |
Musashi Seimitsu Industry Co., Ltd. | 11,300 | 229,359 |
Nifco, Inc. | 9,200 | 354,653 |
Nippon Seiki Co., Ltd. | 16,000 | 335,295 |
Nissan Shatai Co., Ltd. | 47,800 | 551,215 |
Nissin Kogyo Co., Ltd. | 20,200 | 310,696 |
NOK Corp. | 24,300 | 571,042 |
Pacific Industrial Co., Ltd. | 19,500 | 218,248 |
Piolax, Inc. | 1,500 | 79,364 |
Press Kogyo Co., Ltd. | 61,800 | 265,607 |
Sanden Holdings Corp. | 49,000 | 168,680 |
Showa Corp. | 30,400 | 281,777 |
Sumitomo Riko Co., Ltd. | 31,000 | 250,591 |
Tachi-S Co., Ltd. | 26,500 | 369,954 |
Takata Corp. *(a) | 33,400 | 378,556 |
Tokai Rika Co., Ltd. | 21,500 | 464,888 |
Security | Number of Shares | Value ($) |
Topre Corp. | 9,900 | 215,066 |
Toyo Tire & Rubber Co., Ltd. | 16,300 | 342,997 |
Toyota Boshoku Corp. | 45,600 | 974,329 |
TS Tech Co., Ltd. | 18,600 | 510,115 |
Unipres Corp. | 26,700 | 606,798 |
Yorozu Corp. | 10,700 | 228,674 |
11,938,146 | ||
Banks 2.3% | ||
Aozora Bank Ltd. | 163,000 | 595,774 |
Ashikaga Holdings Co., Ltd. | 16,800 | 75,396 |
Fukuoka Financial Group, Inc. | 135,000 | 710,390 |
Hokuhoku Financial Group, Inc. | 228,000 | 506,211 |
Kyushu Financial Group, Inc. * | 52,640 | 404,822 |
Senshu Ikeda Holdings, Inc. | 31,300 | 134,804 |
Seven Bank Ltd. | 61,300 | 279,317 |
Shinsei Bank Ltd. | 209,000 | 438,226 |
Suruga Bank Ltd. | 15,200 | 299,242 |
The 77 Bank Ltd. | 37,000 | 204,601 |
The Awa Bank Ltd. | 30,000 | 166,372 |
The Bank of Kyoto Ltd. | 27,000 | 272,687 |
The Chiba Bank Ltd. | 87,000 | 634,668 |
The Chugoku Bank Ltd. | 23,300 | 330,308 |
The Daishi Bank Ltd. | 43,000 | 194,314 |
The Gunma Bank Ltd. | 51,000 | 321,030 |
The Hachijuni Bank Ltd. | 45,000 | 306,843 |
The Hiroshima Bank Ltd. | 49,000 | 272,124 |
The Hyakugo Bank Ltd. | 35,000 | 179,036 |
The Hyakujushi Bank Ltd. | 10,000 | 37,601 |
The Iyo Bank Ltd. | 25,500 | 274,181 |
The Joyo Bank Ltd. | 63,000 | 327,230 |
The Juroku Bank Ltd. | 49,000 | 218,584 |
The Keiyo Bank Ltd. | 35,000 | 175,850 |
The Kiyo Bank Ltd. | 11,000 | 167,289 |
The Musashino Bank Ltd. | 5,000 | 190,227 |
The Nanto Bank Ltd. | 19,000 | 60,272 |
The Nishi-Nippon City Bank Ltd. | 119,000 | 347,735 |
The Ogaki Kyoritsu Bank Ltd. | 56,000 | 218,212 |
The San-in Godo Bank Ltd. | 24,000 | 221,793 |
The Shiga Bank Ltd. | 26,000 | 138,967 |
The Shizuoka Bank Ltd. | 58,000 | 581,842 |
TOMONY Holdings, Inc. | 31,500 | 122,154 |
Yamaguchi Financial Group, Inc. | 31,000 | 381,287 |
9,789,389 | ||
Capital Goods 7.2% | ||
Aica Kogyo Co., Ltd. | 12,300 | 243,636 |
Amada Holdings Co., Ltd. | 60,700 | 541,346 |
Asahi Diamond Industrial Co., Ltd. | 14,300 | 150,889 |
Bunka Shutter Co., Ltd. | 8,700 | 67,540 |
Central Glass Co., Ltd. | 101,000 | 498,537 |
Chiyoda Corp. | 45,000 | 342,264 |
Chudenko Corp. | 8,000 | 172,858 |
CKD Corp. | 16,000 | 145,483 |
COMSYS Holdings Corp. | 50,900 | 664,832 |
Daifuku Co., Ltd. | 20,700 | 306,356 |
Daihen Corp. | 31,000 | 154,151 |
DMG Mori Co., Ltd. | 17,400 | 247,632 |
Fuji Electric Co., Ltd. | 151,000 | 673,695 |
Fuji Machine Manufacturing Co., Ltd. | 23,038 | 225,985 |
Security | Number of Shares | Value ($) |
Fujikura Ltd. | 156,000 | 801,827 |
Fujitec Co., Ltd. | 15,800 | 170,491 |
Furukawa Co., Ltd. | 76,000 | 179,713 |
Futaba Corp. | 10,900 | 140,730 |
Glory Ltd. | 15,200 | 384,550 |
GS Yuasa Corp. | 109,000 | 414,389 |
Hazama Ando Corp. | 26,100 | 153,884 |
Hitachi Koki Co., Ltd. | 19,100 | 139,146 |
Hitachi Zosen Corp. | 72,300 | 395,161 |
Hoshizaki Electric Co., Ltd. | 7,200 | 520,619 |
Inaba Denki Sangyo Co., Ltd. | 11,700 | 365,075 |
Inabata & Co., Ltd. | 42,800 | 495,756 |
Iseki & Co., Ltd. (a) | 97,000 | 159,788 |
Iwatani Corp. (a) | 88,000 | 487,196 |
Kanamoto Co., Ltd. | 3,200 | 64,662 |
Kandenko Co., Ltd. | 71,000 | 501,704 |
Kanematsu Corp. | 321,000 | 530,046 |
Keihan Electric Railway Co., Ltd. | 76,000 | 538,942 |
Kitz Corp. | 49,800 | 229,212 |
Komori Corp. | 16,100 | 190,481 |
Kumagai Gumi Co., Ltd. | 22,000 | 65,914 |
Kurita Water Industries Ltd. | 33,900 | 765,489 |
Kuroda Electric Co., Ltd. | 19,400 | 392,974 |
Kyowa Exeo Corp. | 51,400 | 536,415 |
Kyudenko Corp. | 19,000 | 391,641 |
Mabuchi Motor Co., Ltd. | 6,000 | 296,876 |
Maeda Corp. | 35,000 | 254,154 |
Maeda Road Construction Co., Ltd. | 25,000 | 454,437 |
Makino Milling Machine Co., Ltd. | 21,000 | 162,655 |
Meidensha Corp. | 54,000 | 189,933 |
Minebea Co., Ltd. | 39,000 | 429,538 |
Mirait Holdings Corp. | 35,900 | 311,083 |
MISUMI Group, Inc. | 38,200 | 497,444 |
Miura Co., Ltd. | 19,900 | 237,447 |
Nabtesco Corp. | 20,800 | 416,518 |
Nachi-Fujikoshi Corp. | 37,000 | 166,101 |
Namura Shipbuilding Co., Ltd. | 22,000 | 192,395 |
NGK Insulators Ltd. | 33,000 | 714,445 |
Nichias Corp. | 46,000 | 289,923 |
Nichiha Corp. | 13,400 | 180,711 |
Nippo Corp. | 22,000 | 383,369 |
Nippon Densetsu Kogyo Co., Ltd. | 14,400 | 272,914 |
Nippon Sheet Glass Co., Ltd. * | 737,000 | 632,623 |
Nippon Steel & Sumikin Bussan Corp. | 97,000 | 337,297 |
Nishimatsu Construction Co., Ltd. | 96,000 | 381,106 |
Nishio Rent All Co., Ltd. | 5,400 | 125,679 |
Nisshinbo Holdings, Inc. | 50,000 | 679,031 |
Nitta Corp. | 6,300 | 171,618 |
Nitto Kogyo Corp. | 7,400 | 142,811 |
Noritz Corp. | 16,500 | 257,908 |
NTN Corp. | 133,000 | 660,971 |
Oiles Corp. | 9,780 | 155,486 |
OKUMA Corp. | 26,000 | 208,479 |
Okumura Corp. | 52,000 | 275,206 |
OSG Corp. | 12,900 | 242,651 |
Penta-Ocean Construction Co., Ltd. | 82,300 | 373,741 |
Ryobi Ltd. | 74,000 | 272,835 |
Security | Number of Shares | Value ($) |
Sanki Engineering Co., Ltd. | 25,600 | 211,392 |
Sankyo Tateyama, Inc. | 15,400 | 214,369 |
Sanwa Holdings Corp. | 46,300 | 374,509 |
Seibu Holdings, Inc. | 9,200 | 186,197 |
Shinmaywa Industries Ltd. | 28,000 | 305,671 |
SHO-BOND Holdings Co., Ltd. | 3,300 | 131,059 |
Sintokogio Ltd. | 21,900 | 188,285 |
Tadano Ltd. | 15,000 | 179,182 |
Taihei Dengyo Kaisha Ltd. | 7,000 | 74,391 |
Taikisha Ltd. | 10,300 | 249,343 |
Takara Standard Co., Ltd. | 34,000 | 256,836 |
Takasago Thermal Engineering Co., Ltd. | 19,800 | 284,252 |
Takuma Co., Ltd. | 8,000 | 63,169 |
The Japan Steel Works Ltd. | 132,000 | 491,264 |
The Nippon Road Co., Ltd. | 36,000 | 195,598 |
THK Co., Ltd. | 23,600 | 444,568 |
Toa Corp. | 97,000 | 220,094 |
Toda Corp. | 71,000 | 386,224 |
TOKAI Holdings Corp. | 21,300 | 90,329 |
Toshiba Machine Co., Ltd. | 39,000 | 134,299 |
Toshiba Plant Systems & Services Corp. | 12,500 | 133,893 |
Totetsu Kogyo Co., Ltd. | 7,000 | 151,358 |
Toyo Engineering Corp. | 67,000 | 168,485 |
Trusco Nakayama Corp. | 9,800 | 343,600 |
Tsubakimoto Chain Co. | 29,000 | 212,491 |
Ushio, Inc. | 34,400 | 473,888 |
Wakita & Co., Ltd. | 6,300 | 49,582 |
Yamazen Corp. | 30,600 | 273,267 |
Yuasa Trading Co., Ltd. | 10,600 | 247,088 |
Yurtec Corp. | 9,000 | 86,354 |
30,639,431 | ||
Commercial & Professional Supplies 1.1% | ||
Aeon Delight Co., Ltd. | 7,100 | 204,538 |
Daiseki Co., Ltd. | 8,500 | 136,378 |
Duskin Co., Ltd. | 28,100 | 482,269 |
Itoki Corp. | 5,900 | 43,133 |
Kokuyo Co., Ltd. | 47,900 | 534,403 |
Meitec Corp. | 5,300 | 192,484 |
Nissha Printing Co., Ltd. | 9,900 | 215,291 |
Nomura Co., Ltd. | 13,400 | 181,082 |
Okamura Corp. | 27,600 | 256,078 |
Park24 Co., Ltd. | 17,600 | 368,871 |
Relia, Inc. | 18,300 | 173,542 |
Sato Holdings Corp. | 7,200 | 156,525 |
Sohgo Security Services Co., Ltd. | 16,500 | 796,014 |
Temp Holdings Co., Ltd. | 28,800 | 429,979 |
Toppan Forms Co., Ltd. | 24,800 | 319,492 |
4,490,079 | ||
Consumer Durables & Apparel 2.0% | ||
Alpine Electronics, Inc. | 17,600 | 231,098 |
Asics Corp. | 18,400 | 508,221 |
Casio Computer Co., Ltd. | 35,300 | 665,029 |
Foster Electric Co., Ltd. | 4,600 | 112,866 |
Fujitsu General Ltd. | 16,000 | 200,926 |
Funai Electric Co., Ltd. | 27,700 | 285,837 |
Gunze Ltd. | 105,000 | 333,503 |
Haseko Corp. | 43,700 | 444,306 |
Heiwa Corp. | 9,500 | 175,368 |
Security | Number of Shares | Value ($) |
JVC Kenwood Corp. | 74,100 | 193,825 |
Kurabo Industries Ltd. | 118,000 | 209,076 |
Misawa Homes Co., Ltd. | 15,700 | 94,468 |
Mizuno Corp. | 61,000 | 299,455 |
Onward Holdings Co., Ltd. | 78,000 | 489,888 |
PanaHome Corp. | 41,000 | 291,761 |
Pioneer Corp. * | 224,200 | 603,831 |
Rinnai Corp. | 7,000 | 554,932 |
Sangetsu Co., Ltd. | 25,200 | 402,013 |
Sankyo Co., Ltd. | 16,800 | 647,466 |
Sanyo Shokai Ltd. | 30,000 | 87,497 |
Seiko Holdings Corp. | 15,000 | 97,724 |
Seiren Co., Ltd. | 17,500 | 205,904 |
Tamron Co., Ltd. | 7,400 | 147,792 |
Token Corp. | 4,150 | 329,288 |
Tomy Co., Ltd. (a) | 44,200 | 222,688 |
TSI Holdings Co., Ltd. | 40,800 | 286,114 |
Wacoal Holdings Corp. | 37,000 | 464,294 |
8,585,170 | ||
Consumer Services 0.9% | ||
Accordia Golf Co., Ltd. | 31,200 | 282,867 |
Doutor Nichires Holdings Co., Ltd. | 13,800 | 200,957 |
Dynam Japan Holdings Co., Ltd. | 157,800 | 193,894 |
H.I.S. Co., Ltd. | 11,500 | 386,587 |
McDonald's Holdings Co., Ltd. (a) | 25,833 | 610,983 |
MOS Food Services, Inc. | 7,900 | 171,232 |
Ohsho Food Service Corp. | 1,200 | 40,030 |
Plenus Co., Ltd. | 9,700 | 149,999 |
Resorttrust, Inc. | 7,500 | 192,757 |
Round One Corp. | 48,300 | 218,172 |
Royal Holdings Co., Ltd. | 11,400 | 200,224 |
Saint Marc Holdings Co., Ltd. | 4,900 | 145,661 |
Saizeriya Co., Ltd. | 13,400 | 303,730 |
Skylark Co., Ltd. | 6,500 | 84,545 |
Tokyo Dome Corp. | 38,000 | 176,423 |
Yoshinoya Holdings Co., Ltd. | 28,900 | 356,071 |
Zensho Holdings Co., Ltd. | 33,300 | 313,760 |
4,027,892 | ||
Diversified Financials 0.8% | ||
Acom Co., Ltd. * | 62,100 | 339,984 |
AEON Financial Service Co., Ltd. | 14,000 | 349,798 |
Century Tokyo Leasing Corp. | 7,300 | 247,626 |
Credit Saison Co., Ltd. | 40,200 | 825,289 |
Fuyo General Lease Co., Ltd. | 4,000 | 179,330 |
Hitachi Capital Corp. | 8,900 | 255,739 |
Jaccs Co., Ltd. | 40,000 | 167,382 |
Japan Exchange Group, Inc. | 6,600 | 106,200 |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 60,700 | 318,599 |
Okasan Securities Group, Inc. | 9,000 | 52,899 |
Orient Corp. * | 182,900 | 365,680 |
SBI Holdings, Inc. | 22,900 | 259,190 |
Tokai Tokyo Financial Holdings, Inc. | 9,200 | 55,973 |
3,523,689 |
Security | Number of Shares | Value ($) |
Energy 0.2% | ||
Itochu Enex Co., Ltd. | 26,000 | 208,246 |
Japan Petroleum Exploration Co., Ltd. | 13,800 | 414,166 |
Nippon Gas Co., Ltd. | 2,300 | 58,169 |
680,581 | ||
Food & Staples Retailing 1.9% | ||
Ain Pharmaciez, Inc. | 5,400 | 255,629 |
Arcs Co., Ltd. | 25,000 | 503,976 |
Axial Retailing, Inc. | 2,800 | 104,167 |
Belc Co., Ltd. | 1,900 | 70,896 |
Cawachi Ltd. | 20,400 | 353,048 |
Cocokara fine, Inc. | 15,600 | 616,716 |
Cosmos Pharmaceutical Corp. | 1,400 | 174,264 |
Create SD Holdings Co., Ltd. | 1,500 | 88,321 |
FamilyMart Co., Ltd. | 12,500 | 510,960 |
Heiwado Co., Ltd. | 16,500 | 370,164 |
Kato Sangyo Co., Ltd. | 24,500 | 596,280 |
Matsumotokiyoshi Holdings Co., Ltd. | 18,700 | 800,663 |
Ministop Co., Ltd. | 9,400 | 173,671 |
Mitsubishi Shokuhin Co., Ltd. | 14,400 | 366,282 |
San-A Co., Ltd. | 6,000 | 254,794 |
Sugi Holdings Co., Ltd. | 9,800 | 476,210 |
Sundrug Co., Ltd. | 9,400 | 495,187 |
Tsuruha Holdings, Inc. | 8,700 | 689,249 |
Valor Holdings Co., Ltd. | 26,200 | 610,992 |
Welcia Holdings Co., Ltd. | 5,500 | 271,069 |
Yaoko Co., Ltd. | 5,900 | 237,637 |
Yokohama Reito Co., Ltd. | 35,300 | 281,529 |
8,301,704 | ||
Food, Beverage & Tobacco 2.6% | ||
Calbee, Inc. | 8,400 | 304,347 |
Coca-Cola East Japan Co., Ltd. | 18,100 | 254,384 |
Dydo Drinco, Inc. | 5,500 | 234,895 |
Ezaki Glico Co., Ltd. | 12,600 | 601,804 |
Fuji Oil Holdings, Inc. | 28,900 | 407,518 |
Hokuto Corp. | 10,000 | 195,469 |
House Foods Group, Inc. | 21,800 | 376,652 |
Ito En Ltd. | 24,600 | 513,856 |
Itoham Foods, Inc. | 86,000 | 439,345 |
J-Oil Mills, Inc. | 64,000 | 185,031 |
Kagome Co., Ltd. (a) | 26,200 | 445,240 |
Kikkoman Corp. | 26,000 | 814,355 |
Marudai Food Co., Ltd. | 21,000 | 77,858 |
Maruha Nichiro Corp. | 5,900 | 88,547 |
Megmilk Snow Brand Co., Ltd. | 40,700 | 845,750 |
Mitsui Sugar Co., Ltd. | 32,000 | 128,699 |
Morinaga & Co., Ltd. | 69,000 | 351,370 |
Morinaga Milk Industry Co., Ltd. | 180,000 | 816,883 |
Nichirei Corp. | 132,000 | 858,597 |
Nippon Flour Mills Co., Ltd. | 80,000 | 497,196 |
Nippon Suisan Kaisha Ltd. | 118,300 | 396,334 |
Prima Meat Packers Ltd. | 76,000 | 212,305 |
Sapporo Holdings Ltd. | 136,000 | 560,506 |
Takara Holdings, Inc. | 51,700 | 371,349 |
The Nisshin Oillio Group Ltd. | 100,000 | 371,275 |
Warabeya Nichiyo Co., Ltd. | 12,500 | 244,019 |
Yakult Honsha Co., Ltd. | 10,600 | 561,181 |
11,154,765 |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 0.9% | ||
BML, Inc. | 2,000 | 58,898 |
Hogy Medical Co., Ltd. | 2,800 | 134,410 |
Miraca Holdings, Inc. | 13,600 | 605,271 |
Nichii Gakkan Co. (a) | 26,500 | 182,948 |
Nihon Kohden Corp. | 14,800 | 288,123 |
Nikkiso Co., Ltd. | 16,800 | 135,598 |
Nipro Corp. | 36,600 | 410,301 |
Paramount Bed Holdings Co., Ltd. | 6,600 | 211,696 |
Ship Healthcare Holdings, Inc. | 12,000 | 290,679 |
Sysmex Corp. | 10,700 | 611,599 |
Toho Holdings Co., Ltd. | 37,700 | 835,859 |
3,765,382 | ||
Household & Personal Products 0.7% | ||
Earth Chemical Co., Ltd. | 5,600 | 221,168 |
Fancl Corp. | 17,100 | 239,630 |
Kobayashi Pharmaceutical Co., Ltd. | 5,500 | 426,405 |
Kose Corp. | 4,800 | 468,766 |
Lion Corp. | 64,000 | 616,979 |
Mandom Corp. | 6,300 | 250,000 |
Pigeon Corp. | 9,500 | 266,180 |
Pola Orbis Holdings, Inc. | 5,000 | 318,004 |
2,807,132 | ||
Insurance 0.1% | ||
Sony Financial Holdings, Inc. | 26,199 | 469,554 |
Materials 4.3% | ||
ADEKA Corp. | 33,900 | 498,188 |
Aichi Steel Corp. | 62,000 | 269,316 |
Asahi Holdings, Inc. | 18,000 | 264,891 |
Chugoku Marine Paints Ltd. | 23,000 | 164,425 |
Daido Steel Co., Ltd. | 117,000 | 447,854 |
Daio Paper Corp. (a) | 37,000 | 365,025 |
Dowa Holdings Co., Ltd. | 77,000 | 671,333 |
FP Corp. | 6,800 | 278,159 |
Fuji Seal International, Inc. | 7,700 | 261,420 |
Fujimori Kogyo Co., Ltd. | 5,400 | 148,762 |
Godo Steel Ltd. | 40,000 | 69,998 |
Hitachi Metals Ltd. | 39,690 | 449,523 |
Hokuetsu Kishu Paper Co., Ltd. | 68,700 | 478,711 |
Ishihara Sangyo Kaisha Ltd. * | 178,000 | 172,596 |
Kansai Paint Co., Ltd. | 29,000 | 442,070 |
Konishi Co., Ltd. | 8,500 | 156,233 |
Kureha Corp. | 63,000 | 240,552 |
Kyoei Steel Ltd. | 11,100 | 183,554 |
Lintec Corp. | 18,800 | 440,390 |
Maruichi Steel Tube Ltd. | 15,700 | 402,050 |
Mitsubishi Gas Chemical Co., Inc. | 137,000 | 763,827 |
Mitsubishi Steel Manufacturing Co., Ltd. | 84,000 | 161,152 |
Nihon Parkerizing Co., Ltd. | 18,500 | 164,562 |
Nippon Denko Co., Ltd. | 74,200 | 149,647 |
Nippon Kayaku Co., Ltd. | 41,000 | 427,745 |
Nippon Light Metal Holdings Co., Ltd. | 317,200 | 542,560 |
Nippon Paint Holdings Co., Ltd. | 11,500 | 242,903 |
Nippon Shokubai Co., Ltd. | 8,400 | 657,359 |
Nippon Soda Co., Ltd. | 42,000 | 326,012 |
Nissan Chemical Industries Ltd. | 25,500 | 633,330 |
Security | Number of Shares | Value ($) |
Nisshin Steel Co., Ltd. | 36,200 | 371,500 |
Nittetsu Mining Co., Ltd. | 48,000 | 211,461 |
NOF Corp. | 50,000 | 357,393 |
Pacific Metals Co., Ltd. * | 77,000 | 206,065 |
Rengo Co., Ltd. | 144,000 | 684,533 |
Sakai Chemical Industry Co., Ltd. | 27,000 | 79,857 |
Sakata INX Corp. | 15,700 | 143,204 |
Sanyo Chemical Industries Ltd. | 26,000 | 192,309 |
Sanyo Special Steel Co., Ltd. | 65,000 | 267,751 |
Sumitomo Bakelite Co., Ltd. | 93,000 | 381,530 |
Sumitomo Osaka Cement Co., Ltd. | 148,000 | 570,322 |
The Nippon Synthetic Chemical Industry Co., Ltd. | 20,000 | 148,135 |
Toagosei Co., Ltd. | 56,400 | 472,194 |
Toho Zinc Co., Ltd. | 60,000 | 165,817 |
Tokai Carbon Co., Ltd. | 107,000 | 291,765 |
Tokuyama Corp. *(a) | 300,000 | 605,013 |
Tokyo Ohka Kogyo Co., Ltd. | 8,000 | 255,689 |
Tokyo Steel Manufacturing Co., Ltd. | 46,100 | 307,633 |
Topy Industries Ltd. | 116,000 | 260,996 |
Toyo Ink SC Holdings Co., Ltd. | 83,000 | 342,231 |
Toyobo Co., Ltd. | 407,000 | 596,600 |
UACJ Corp. | 97,300 | 188,953 |
Yamato Kogyo Co., Ltd. | 12,800 | 340,955 |
Yodogawa Steel Works Ltd. | 12,100 | 213,299 |
Zeon Corp. | 53,000 | 432,574 |
18,561,926 | ||
Media 0.7% | ||
Asatsu-DK, Inc. | 20,500 | 503,074 |
Avex Group Holdings, Inc. | 14,400 | 169,752 |
CyberAgent, Inc. | 5,000 | 205,362 |
Daiichikosho Co., Ltd. | 11,900 | 396,889 |
SKY Perfect JSAT Holdings, Inc. | 59,000 | 310,549 |
Toei Co., Ltd. | 20,000 | 178,697 |
Toho Co., Ltd. | 20,200 | 525,669 |
Tokyo Broadcasting System Holdings, Inc. | 15,100 | 224,343 |
TV Asahi Holdings Corp. | 9,500 | 158,542 |
Zenrin Co., Ltd. | 12,000 | 174,778 |
2,847,655 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.1% | ||
Hisamitsu Pharmaceutical Co., Inc. | 13,800 | 534,886 |
Kaken Pharmaceutical Co., Ltd. | 4,300 | 297,194 |
Kissei Pharmaceutical Co., Ltd. | 6,700 | 172,356 |
KYORIN Holdings, Inc. | 12,500 | 210,136 |
Mochida Pharmaceutical Co., Ltd. | 4,700 | 277,515 |
Nichi-iko Pharmaceutical Co., Ltd. | 6,900 | 191,505 |
Nippon Shinyaku Co., Ltd. | 5,000 | 195,492 |
Rohto Pharmaceutical Co., Ltd. | 24,200 | 399,263 |
Santen Pharmaceutical Co., Ltd. | 46,900 | 636,549 |
Sawai Pharmaceutical Co., Ltd. | 4,900 | 313,685 |
Sumitomo Dainippon Pharma Co., Ltd. | 39,000 | 431,654 |
Security | Number of Shares | Value ($) |
Taisho Pharmaceutical Holdings Co., Ltd. | 11,200 | 698,822 |
Tsumura & Co. | 17,300 | 416,862 |
4,775,919 | ||
Real Estate 1.5% | ||
Advance Residence Investment Corp. | 128 | 273,120 |
Aeon Mall Co., Ltd. | 20,230 | 338,402 |
Daikyo, Inc. | 59,000 | 101,989 |
Frontier Real Estate Investment Corp. | 35 | 141,605 |
Fukuoka REIT Corp. | 41 | 66,858 |
Japan Excellent, Inc. | 153 | 167,603 |
Japan Logistics Fund, Inc. | 32 | 59,844 |
Japan Prime Realty Investment Corp. | 81 | 263,669 |
Japan Real Estate Investment Corp. | 122 | 563,943 |
Japan Retail Fund Investment Corp. | 268 | 519,055 |
Kenedix Office Investment Corp. | 43 | 197,116 |
Leopalace21 Corp. * | 73,400 | 391,069 |
Mori Trust Sogo REIT, Inc. | 79 | 139,764 |
Nippon Accommodations Fund, Inc. | 43 | 148,347 |
Nippon Building Fund, Inc. | 150 | 712,391 |
Nippon Prologis REIT, Inc. | 31 | 54,516 |
Nomura Real Estate Holdings, Inc. | 33,700 | 720,133 |
NTT Urban Development Corp. | 17,500 | 173,408 |
Orix JREIT, Inc. | 203 | 273,273 |
Premier Investment Corp. | 50 | 49,052 |
Relo Holdings, Inc. | 1,800 | 193,544 |
Tokyo Tatemono Co., Ltd. | 24,600 | 305,663 |
Top REIT, Inc. | 31 | 116,430 |
United Urban Investment Corp. | 207 | 287,192 |
6,257,986 | ||
Retailing 2.6% | ||
ABC-Mart, Inc. | 3,500 | 195,220 |
Adastria Co., Ltd. | 8,190 | 461,053 |
Alpen Co., Ltd. | 11,700 | 191,524 |
AOKI Holdings, Inc. | 16,000 | 195,024 |
Aoyama Trading Co., Ltd. | 18,400 | 670,373 |
Arcland Sakamoto Co., Ltd. | 8,700 | 190,446 |
ASKUL Corp. | 8,200 | 300,988 |
Autobacs Seven Co., Ltd. | 44,100 | 773,319 |
Bic Camera, Inc. (a) | 25,300 | 205,844 |
Canon Marketing Japan, Inc. | 28,900 | 439,359 |
Chiyoda Co., Ltd. | 12,200 | 404,462 |
DCM Holdings Co., Ltd. | 82,400 | 545,868 |
Don Quijote Holdings Co., Ltd. | 18,100 | 664,888 |
Doshisha Co., Ltd. | 12,500 | 230,155 |
Geo Holdings Corp. | 38,000 | 568,624 |
Gulliver International Co., Ltd. (a) | 20,600 | 207,531 |
H2O Retailing Corp. | 36,300 | 705,147 |
Hikari Tsushin, Inc. | 4,500 | 342,444 |
Izumi Co., Ltd. | 9,600 | 356,140 |
Joyful Honda Co., Ltd. | 8,200 | 154,574 |
Kohnan Shoji Co., Ltd. | 31,700 | 462,400 |
Security | Number of Shares | Value ($) |
Komeri Co., Ltd. | 16,800 | 359,178 |
Nojima Corp. | 6,300 | 74,460 |
Rakuten, Inc. | 34,660 | 480,152 |
Ryohin Keikaku Co., Ltd. | 3,600 | 722,869 |
Sanrio Co., Ltd. (a) | 8,200 | 217,843 |
United Arrows Ltd. | 5,900 | 254,177 |
USS Co., Ltd. | 28,100 | 496,074 |
Xebio Holdings Co., Ltd. | 21,400 | 382,888 |
11,253,024 | ||
Semiconductors & Semiconductor Equipment 0.3% | ||
Advantest Corp. (a) | 20,300 | 161,935 |
Disco Corp. | 3,300 | 300,979 |
Sanken Electric Co., Ltd. | 30,000 | 104,267 |
SCREEN Holdings Co., Ltd. | 39,000 | 230,425 |
Shindengen Electric Manufacturing Co., Ltd. | 15,000 | 54,781 |
Shinko Electric Industries Co., Ltd. | 35,000 | 212,569 |
Tokyo Seimitsu Co., Ltd. | 8,000 | 176,626 |
Ulvac, Inc. | 11,500 | 204,525 |
1,446,107 | ||
Software & Services 1.9% | ||
Capcom Co., Ltd. | 14,600 | 307,839 |
Dena Co., Ltd. | 41,386 | 664,009 |
DTS Corp. | 8,100 | 191,468 |
Fuji Soft, Inc. | 10,000 | 191,077 |
Gree, Inc. (a) | 60,900 | 308,483 |
Ines Corp. | 6,800 | 60,889 |
Internet Initiative Japan, Inc. | 8,300 | 155,329 |
IT Holdings Corp. | 37,700 | 931,978 |
Itochu Techno-Solutions Corp. | 19,000 | 416,537 |
NEC Networks & System Integration Corp. | 14,600 | 273,484 |
NET One Systems Co., Ltd. | 60,800 | 374,861 |
Nexon Co., Ltd. | 18,061 | 250,524 |
Nihon Unisys Ltd. | 26,500 | 291,154 |
NS Solutions Corp. | 5,000 | 244,030 |
NSD Co., Ltd. | 10,820 | 150,721 |
Obic Co., Ltd. | 7,000 | 369,439 |
Oracle Corp., Japan | 2,900 | 131,894 |
Otsuka Corp. | 14,900 | 720,263 |
SCSK Corp. | 6,476 | 248,290 |
Square Enix Holdings Co., Ltd. | 15,200 | 410,847 |
Transcosmos, Inc. | 9,300 | 259,667 |
Trend Micro, Inc. | 15,600 | 607,954 |
Yahoo Japan Corp. | 139,500 | 591,636 |
8,152,373 | ||
Technology Hardware & Equipment 2.7% | ||
Alps Electric Co., Ltd. | 26,500 | 822,538 |
Amano Corp. | 19,900 | 258,475 |
Anritsu Corp. | 36,200 | 235,746 |
Azbil Corp. | 21,500 | 542,427 |
Canon Electronics, Inc. | 9,700 | 165,460 |
Citizen Holdings Co., Ltd. | 81,600 | 618,487 |
Daiwabo Holdings Co., Ltd. | 165,000 | 324,933 |
Eizo Corp. | 8,850 | 207,194 |
Hamamatsu Photonics K.K. | 16,200 | 412,384 |
Hirose Electric Co., Ltd. | 4,795 | 580,367 |
Hitachi High-Technologies Corp. | 25,200 | 677,705 |
Hitachi Kokusai Electric, Inc. | 9,500 | 131,166 |
Security | Number of Shares | Value ($) |
Hitachi Maxell Ltd. | 12,400 | 212,660 |
Horiba Ltd. | 9,600 | 377,746 |
Hosiden Corp. | 88,700 | 545,458 |
Japan Aviation Electronics Industry Ltd. | 11,000 | 194,855 |
Japan Display, Inc. * | 85,100 | 267,353 |
Melco Holdings, Inc. | 9,100 | 157,381 |
Mitsumi Electric Co., Ltd. | 71,600 | 432,267 |
Nichicon Corp. | 22,400 | 179,580 |
Nippon Chemi-Con Corp. | 56,000 | 129,576 |
Nippon Signal Co., Ltd. | 17,800 | 184,920 |
Oki Electric Industry Co., Ltd. | 148,000 | 249,800 |
Riso Kagaku Corp. | 8,900 | 161,432 |
Ryosan Co., Ltd. | 19,900 | 481,579 |
Ryoyo Electro Corp. | 17,500 | 215,389 |
Shimadzu Corp. | 44,000 | 682,549 |
Siix Corp. | 6,200 | 174,483 |
Taiyo Yuden Co., Ltd. | 34,900 | 491,430 |
Toshiba TEC Corp. | 63,000 | 228,238 |
Wacom Co., Ltd. (a) | 38,200 | 142,984 |
Yaskawa Electric Corp. | 34,700 | 411,608 |
Yokogawa Electric Corp. | 49,800 | 556,280 |
11,454,450 | ||
Transportation 1.4% | ||
Fukuyama Transporting Co., Ltd. (a) | 63,000 | 342,132 |
Hitachi Transport System Ltd. | 24,600 | 433,067 |
Japan Airport Terminal Co., Ltd. | 3,800 | 205,519 |
Keikyu Corp. | 63,000 | 518,229 |
Keisei Electric Railway Co., Ltd. | 35,000 | 431,299 |
Kintetsu World Express, Inc. | 16,200 | 304,396 |
Konoike Transport Co., Ltd. | 17,000 | 210,623 |
Mitsubishi Logistics Corp. | 24,000 | 344,446 |
Mitsui-Soko Holdings Co., Ltd. | 57,000 | 183,910 |
Nankai Electric Railway Co., Ltd. | 91,000 | 465,396 |
Nikkon Holdings Co., Ltd. | 20,800 | 401,820 |
Nishi-Nippon Railroad Co., Ltd. | 94,000 | 486,048 |
Sankyu, Inc. | 129,000 | 726,687 |
Senko Co., Ltd. | 42,000 | 290,716 |
Sotetsu Holdings, Inc. | 70,000 | 398,561 |
The Sumitomo Warehouse Co., Ltd. | 39,000 | 206,906 |
5,949,755 | ||
Utilities 0.1% | ||
The Okinawa Electric Power Co., Inc. | 15,900 | 390,312 |
171,262,421 | ||
Luxembourg 0.5% | ||
Banks 0.0% | ||
Espirito Santo Financial Group S.A. *(b)(c) | 69,773 | — |
Commercial & Professional Supplies 0.1% | ||
Regus plc | 75,311 | 387,782 |
Consumer Durables & Apparel 0.1% | ||
Samsonite International S.A. | 120,400 | 356,512 |
Household & Personal Products 0.1% | ||
Oriflame Holding AG *(a) | 25,781 | 357,193 |
Security | Number of Shares | Value ($) |
Materials 0.2% | ||
APERAM S.A. * | 18,939 | 583,138 |
Ternium S.A. ADR | 31,177 | 448,014 |
1,031,152 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Eurofins Scientific SE | 200 | 72,348 |
Retailing 0.0% | ||
L'Occitane International S.A. | 30,500 | 61,546 |
2,266,533 | ||
Netherlands 2.2% | ||
Capital Goods 0.7% | ||
Aalberts Industries N.V. | 17,215 | 558,116 |
AerCap Holdings N.V. * | 7,354 | 305,191 |
Arcadis N.V. | 14,845 | 374,232 |
Koninklijke BAM Groep N.V * | 183,125 | 1,008,568 |
Sensata Technologies Holding N.V. * | 7,623 | 366,590 |
TKH Group N.V. | 5,119 | 193,706 |
2,806,403 | ||
Commercial & Professional Supplies 0.1% | ||
Brunel International N.V. | 3,348 | 62,793 |
USG People N.V. | 34,865 | 554,157 |
616,950 | ||
Consumer Durables & Apparel 0.1% | ||
TomTom N.V. * | 22,598 | 245,064 |
Diversified Financials 0.1% | ||
Euronext N.V. (d) | 3,102 | 136,230 |
HAL Trust | 1,358 | 251,026 |
387,256 | ||
Energy 0.4% | ||
Core Laboratories N.V. | 3,044 | 354,109 |
Koninklijke Vopak N.V. | 9,744 | 391,421 |
Nostrum Oil & Gas plc | 8,304 | 55,046 |
SBM Offshore N.V. * | 57,149 | 780,785 |
1,581,361 | ||
Food & Staples Retailing 0.2% | ||
X5 Retail Group N.V. GDR - Reg'd * | 33,904 | 700,725 |
Food, Beverage & Tobacco 0.1% | ||
Corbion N.V. | 25,557 | 627,550 |
Insurance 0.1% | ||
NN Group N.V. | 8,433 | 264,230 |
Materials 0.1% | ||
Koninklijke Ten Cate N.V. | 14,574 | 394,568 |
OCI N.V. * | 5,904 | 166,559 |
561,127 | ||
Real Estate 0.2% | ||
Eurocommercial Properties N.V. CVA | 5,159 | 246,044 |
NSI N.V. | 19,507 | 84,855 |
Vastned Retail N.V. | 4,629 | 224,499 |
Wereldhave N.V. | 4,630 | 288,631 |
844,029 | ||
Retailing 0.0% | ||
Beter Bed Holding N.V. | 2,934 | 70,190 |
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 0.1% | ||
ASM International N.V. | 8,605 | 328,258 |
Software & Services 0.0% | ||
Yandex N.V., Class A * | 12,930 | 208,173 |
9,241,316 | ||
New Zealand 0.9% | ||
Consumer Services 0.1% | ||
SKYCITY Entertainment Group Ltd. | 120,613 | 327,188 |
Energy 0.1% | ||
Z Energy Ltd. | 62,709 | 284,501 |
Food, Beverage & Tobacco 0.0% | ||
Fonterra Co-operative Group Ltd. | 31,832 | 115,870 |
Health Care Equipment & Services 0.1% | ||
Fisher & Paykel Healthcare Corp., Ltd. | 45,784 | 240,919 |
Materials 0.1% | ||
Nuplex Industries Ltd. | 106,145 | 305,800 |
Media 0.1% | ||
SKY Network Television Ltd. | 95,946 | 294,561 |
Real Estate 0.0% | ||
Kiwi Property Group Ltd. | 177,467 | 163,188 |
Telecommunication Services 0.1% | ||
Chorus Ltd. * | 165,171 | 317,560 |
Transportation 0.1% | ||
Air New Zealand Ltd. | 149,636 | 294,340 |
Auckland International Airport Ltd. | 70,194 | 249,443 |
Mainfreight Ltd. (a) | 14,458 | 151,666 |
695,449 | ||
Utilities 0.2% | ||
Contact Energy Ltd. | 65,450 | 229,727 |
Genesis Energy Ltd. | 67,950 | 85,761 |
Infratil Ltd. | 165,611 | 347,830 |
Mighty River Power Ltd. | 121,746 | 230,586 |
TrustPower Ltd. | 20,311 | 107,278 |
1,001,182 | ||
3,746,218 | ||
Norway 1.1% | ||
Banks 0.1% | ||
SpareBank 1 SMN | 27,683 | 173,572 |
SpareBank 1 SR Bank A.S.A. | 37,515 | 179,204 |
352,776 | ||
Capital Goods 0.0% | ||
Veidekke A.S.A. | 11,784 | 149,694 |
Commercial & Professional Supplies 0.1% | ||
Tomra Systems A.S.A. | 19,458 | 207,596 |
Diversified Financials 0.0% | ||
Aker A.S.A., A Shares | 3,652 | 71,928 |
Energy 0.3% | ||
Akastor A.S.A. * | 210,711 | 275,269 |
BW Offshore Ltd. | 115,295 | 48,070 |
Security | Number of Shares | Value ($) |
Fred Olsen Energy A.S.A. * | 53,610 | 250,544 |
TGS Nopec Geophysical Co. A.S.A. (a) | 23,714 | 470,198 |
1,044,081 | ||
Food, Beverage & Tobacco 0.1% | ||
Austevoll Seafood A.S.A. | 32,475 | 199,717 |
Leroy Seafood Group A.S.A. | 5,486 | 192,428 |
Salmar A.S.A. | 3,782 | 61,875 |
454,020 | ||
Insurance 0.2% | ||
Gjensidige Forsikring A.S.A. | 40,228 | 612,473 |
Storebrand A.S.A. * | 107,387 | 374,708 |
987,181 | ||
Materials 0.0% | ||
Borregaard A.S.A. | 23,434 | 124,888 |
Media 0.1% | ||
Schibsted A.S.A., Class A | 9,468 | 317,712 |
Semiconductors & Semiconductor Equipment 0.1% | ||
REC Silicon A.S.A. *(a) | 2,155,464 | 387,434 |
Software & Services 0.1% | ||
Atea A.S.A. * | 39,071 | 363,250 |
Transportation 0.0% | ||
Norwegian Air Shuttle A.S.A. * | 1,613 | 59,273 |
4,519,833 | ||
Portugal 0.4% | ||
Banks 0.0% | ||
Banco BPI S.A. - Reg'd * | 108,552 | 131,682 |
Banco Espirito Santo S.A. - Reg'd *(b)(c) | 320,558 | — |
131,682 | ||
Capital Goods 0.0% | ||
Mota-Engil, SGPS, S.A. (a) | 53,477 | 133,768 |
Food & Staples Retailing 0.1% | ||
Sonae SGPS S.A. | 350,405 | 418,662 |
Materials 0.1% | ||
Portucel S.A. | 21,069 | 85,775 |
Semapa-Sociedade de Investimento e Gestao | 19,535 | 276,480 |
362,255 | ||
Media 0.1% | ||
NOS SGPS S.A. | 26,149 | 216,999 |
Transportation 0.0% | ||
CTT-Correios de Portugal S.A. | 13,888 | 157,748 |
Utilities 0.1% | ||
Redes Energeticas Nacionais SGPS, S.A. | 52,506 | 160,006 |
1,581,120 | ||
Singapore 1.6% | ||
Capital Goods 0.3% | ||
Cosco Corp., (Singapore) Ltd. (a)(b)(c) | 522,231 | 139,793 |
Sembcorp Marine Ltd. (a) | 251,296 | 418,160 |
Singapore Technologies Engineering Ltd. | 284,400 | 670,325 |
Security | Number of Shares | Value ($) |
United Engineers Ltd. | 96,100 | 136,084 |
Vard Holdings Ltd. *(a) | 461,600 | 124,857 |
1,489,219 | ||
Consumer Services 0.1% | ||
Genting Singapore plc | 643,100 | 372,529 |
Diversified Financials 0.1% | ||
Singapore Exchange Ltd. | 58,200 | 306,212 |
Energy 0.0% | ||
InterOil Corp. * | 1,818 | 69,557 |
Sakari Resources Ltd. *(b)(c) | 18,000 | — |
69,557 | ||
Food & Staples Retailing 0.1% | ||
Olam International Ltd. | 160,204 | 228,077 |
Real Estate 0.6% | ||
Ascendas Real Estate Investment Trust | 214,100 | 364,511 |
CapitaLand Commercial Trust Ltd. | 196,302 | 196,993 |
CapitaLand Mall Trust | 234,700 | 330,907 |
City Developments Ltd. | 88,500 | 500,849 |
Global Logistic Properties Ltd. | 146,400 | 234,153 |
Mapletree Greater China Commercial Trust | 100,600 | 71,317 |
Mapletree Industrial Trust | 56,600 | 61,614 |
Mapletree Logistics Trust | 82,200 | 59,785 |
Suntec Real Estate Investment Trust | 165,800 | 194,747 |
UOL Group Ltd. | 66,500 | 310,340 |
Wing Tai Holdings Ltd. | 62,600 | 77,901 |
Yanlord Land Group Ltd. | 85,500 | 63,694 |
2,466,811 | ||
Semiconductors & Semiconductor Equipment 0.0% | ||
Kulicke & Soffa Industries, Inc. * | 16,112 | 170,787 |
Telecommunication Services 0.1% | ||
M1 Ltd. | 67,900 | 137,480 |
StarHub Ltd. | 96,600 | 247,810 |
385,290 | ||
Transportation 0.3% | ||
Neptune Orient Lines Ltd. *(a) | 402,100 | 284,807 |
SATS Ltd. | 156,149 | 422,007 |
SIA Engineering Co., Ltd. | 25,600 | 72,800 |
Singapore Post Ltd. | 170,500 | 230,148 |
SMRT Corp., Ltd. (a) | 158,200 | 164,608 |
1,174,370 | ||
6,662,852 | ||
Spain 2.1% | ||
Banks 0.3% | ||
Bankia S.A. | 427,748 | 549,701 |
Bankinter S.A. | 84,367 | 610,156 |
Caja de Ahorros del Mediterraneo *(b)(c) | 5,382 | — |
Liberbank S.A. * | 230,392 | 142,485 |
1,302,342 | ||
Capital Goods 0.6% | ||
Abengoa S.A., B Shares (a) | 225,251 | 218,156 |
Abengoa S.A., Class A | 8,266 | 9,824 |
Security | Number of Shares | Value ($) |
Construcciones y Auxiliar de Ferrocarriles S.A. | 699 | 195,124 |
Duro Felguera S.A. | 41,040 | 96,411 |
Fomento de Construcciones y Contratas S.A. *(a) | 74,238 | 565,160 |
Gamesa Corp. Tecnologica S.A. | 40,934 | 646,076 |
Obrascon Huarte Lain S.A. (a) | 23,657 | 189,213 |
Sacyr S.A. (a) | 92,604 | 232,988 |
Zardoya Otis S.A. | 35,654 | 438,400 |
2,591,352 | ||
Commercial & Professional Supplies 0.1% | ||
Prosegur Cia de Seguridad S.A. - Reg'd | 60,320 | 268,386 |
Consumer Services 0.1% | ||
Melia Hotels International S.A. | 13,028 | 188,125 |
NH Hotel Group S.A. * | 27,021 | 165,149 |
353,274 | ||
Diversified Financials 0.1% | ||
Bolsas y Mercados Espanoles, SHMSF, S.A. | 9,565 | 343,172 |
Energy 0.1% | ||
Tecnicas Reunidas S.A. | 6,431 | 286,417 |
Food, Beverage & Tobacco 0.2% | ||
Ebro Foods S.A. | 23,865 | 452,018 |
Pescanova S.A. *(b)(c) | 1,125 | — |
Viscofan S.A. | 6,777 | 395,269 |
847,287 | ||
Insurance 0.1% | ||
Grupo Catalana Occidente S.A. | 7,388 | 229,075 |
Materials 0.2% | ||
Acerinox S.A. (a) | 43,939 | 474,732 |
Ence Energia y Celulosa S.A. | 22,524 | 78,729 |
Vidrala S.A. | 3,490 | 165,447 |
718,908 | ||
Media 0.1% | ||
Mediaset Espana Comunicacion S.A. | 30,674 | 372,184 |
Promotora de Informaciones S.A., Class A * | 48,926 | 271,342 |
643,526 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Almirall S.A. | 9,042 | 174,043 |
Grifols S.A. | 8,556 | 396,271 |
570,314 | ||
Software & Services 0.1% | ||
Indra Sistemas S.A. *(a) | 50,916 | 544,720 |
Utilities 0.0% | ||
EDP Renovaveis S.A. | 9,723 | 70,538 |
8,769,311 | ||
Sweden 2.2% | ||
Capital Goods 0.3% | ||
AddTech AB, B Shares | 5,021 | 71,405 |
B&B Tools AB, B Shares | 9,883 | 129,000 |
Indutrade AB | 3,776 | 179,553 |
Nibe Industrier AB, B Shares | 7,238 | 233,069 |
Security | Number of Shares | Value ($) |
Peab AB | 65,604 | 501,507 |
Saab AB, Class B | 13,296 | 374,443 |
1,488,977 | ||
Commercial & Professional Supplies 0.2% | ||
AF AB, B Shares | 9,980 | 147,588 |
Intrum Justitia AB | 8,894 | 319,092 |
Loomis AB, Class B | 11,729 | 304,404 |
771,084 | ||
Consumer Durables & Apparel 0.1% | ||
JM AB | 15,168 | 428,701 |
Consumer Services 0.1% | ||
Betsson AB * | 15,947 | 259,358 |
Diversified Financials 0.2% | ||
LE Lundbergfortagen AB, B Shares | 6,017 | 306,259 |
Ratos AB, B Shares | 84,951 | 495,842 |
802,101 | ||
Energy 0.1% | ||
Lundin Petroleum AB * | 22,166 | 320,852 |
Food & Staples Retailing 0.1% | ||
Axfood AB | 19,557 | 352,927 |
ICA Gruppen AB | 2,327 | 83,013 |
435,940 | ||
Food, Beverage & Tobacco 0.1% | ||
AAK AB | 3,363 | 242,146 |
Health Care Equipment & Services 0.1% | ||
Elekta AB, B Shares | 53,479 | 413,789 |
Materials 0.2% | ||
BillerudKorsnas AB | 19,588 | 354,491 |
Hexpol AB | 19,190 | 186,405 |
Holmen AB, B Shares | 13,172 | 397,068 |
937,964 | ||
Media 0.1% | ||
Modern Times Group MTG AB, B Shares | 16,138 | 457,784 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Meda AB, A Shares | 39,753 | 583,423 |
Real Estate 0.2% | ||
Castellum AB | 21,225 | 317,685 |
Fabege AB | 14,649 | 232,726 |
Kungsleden AB | 24,687 | 184,893 |
Wihlborgs Fastigheter AB | 2,254 | 44,067 |
779,371 | ||
Retailing 0.1% | ||
Bilia AB, A Shares | 15,367 | 322,098 |
Clas Ohlson AB, B Shares | 9,395 | 142,681 |
464,779 | ||
Technology Hardware & Equipment 0.1% | ||
Hexagon AB, B Shares | 17,942 | 622,325 |
Transportation 0.1% | ||
SAS AB *(a) | 119,610 | 230,685 |
9,239,279 |
Security | Number of Shares | Value ($) |
Switzerland 2.8% | ||
Banks 0.1% | ||
Banque Cantonale Vaudoise - Reg'd | 366 | 225,388 |
Valiant Holding AG - Reg'd | 2,434 | 281,008 |
506,396 | ||
Capital Goods 0.7% | ||
AFG Arbonia-Forster Holding AG - Reg'd * | 7,738 | 74,948 |
Belimo Holding AG - Reg'd | 66 | 141,555 |
Bucher Industries AG - Reg'd | 1,263 | 287,427 |
Burckhardt Compression Holding AG | 173 | 60,275 |
Conzzeta AG - Reg’d | 90 | 55,769 |
Daetwyler Holding AG | 1,115 | 156,310 |
Georg Fischer AG - Reg'd | 1,012 | 621,775 |
Implenia AG - Reg'd | 3,928 | 194,685 |
Meyer Burger Technology AG *(a) | 24,313 | 174,147 |
OC Oerlikon Corp. AG - Reg'd * | 32,292 | 309,871 |
Schweiter Technologies AG | 78 | 62,451 |
Sulzer AG - Reg'd | 6,121 | 618,501 |
Zehnder Group AG | 1,914 | 65,255 |
2,822,969 | ||
Commercial & Professional Supplies 0.2% | ||
DKSH Holding Ltd. * | 5,733 | 349,165 |
dorma+kaba Holding AG - Reg'd, Series B | 424 | 264,385 |
Gategroup Holding AG * | 7,520 | 281,956 |
895,506 | ||
Consumer Durables & Apparel 0.1% | ||
Forbo Holding AG - Reg'd * | 206 | 234,261 |
Consumer Services 0.1% | ||
Kuoni Reisen Holding AG - Reg'd, Series B * | 1,581 | 327,349 |
Diversified Financials 0.3% | ||
Cembra Money Bank AG * | 1,252 | 74,645 |
GAM Holding AG * | 12,589 | 230,284 |
Julius Baer Group Ltd. * | 13,166 | 652,803 |
Partners Group Holding AG | 949 | 343,391 |
1,301,123 | ||
Food, Beverage & Tobacco 0.1% | ||
Barry Callebaut AG - Reg'd * | 313 | 375,081 |
Emmi AG - Reg'd * | 657 | 297,188 |
672,269 | ||
Health Care Equipment & Services 0.2% | ||
Sonova Holding AG - Reg'd | 3,843 | 524,356 |
Straumann Holding AG - Reg'd | 642 | 181,661 |
706,017 | ||
Insurance 0.1% | ||
Helvetia Holding AG - Reg'd | 972 | 508,377 |
Materials 0.1% | ||
EMS-Chemie Holding AG - Reg'd | 828 | 350,389 |
Schmolz & Bickenbach AG - Reg'd * | 281,930 | 153,779 |
504,168 |
Security | Number of Shares | Value ($) |
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||
Galenica AG - Reg'd | 557 | 815,947 |
Real Estate 0.1% | ||
Allreal Holding AG - Reg'd * | 1,395 | 184,880 |
Swiss Prime Site AG - Reg'd * | 3,139 | 239,829 |
424,709 | ||
Retailing 0.1% | ||
Dufry AG - Reg'd * | 2,480 | 289,727 |
Valora Holding AG - Reg'd * | 1,585 | 318,775 |
608,502 | ||
Software & Services 0.1% | ||
Temenos Group AG - Reg'd * | 4,741 | 221,473 |
Technology Hardware & Equipment 0.1% | ||
Kudelski S.A. - BR | 11,025 | 148,185 |
Logitech International S.A. - Reg'd | 30,969 | 454,955 |
603,140 | ||
Transportation 0.2% | ||
Flughafen Zuerich AG - Reg'd | 441 | 333,784 |
Panalpina Welttransport Holding AG - Reg'd | 3,364 | 384,069 |
717,853 | ||
11,870,059 | ||
United Kingdom 12.5% | ||
Banks 0.0% | ||
The Paragon Group of Cos. plc | 22,533 | 145,528 |
Capital Goods 1.7% | ||
Ashtead Group plc | 40,468 | 622,225 |
Bodycote plc | 36,523 | 288,527 |
Brammer plc | 27,044 | 95,860 |
Chemring Group plc | 98,199 | 260,380 |
Diploma plc | 2,995 | 29,619 |
Fenner plc | 77,227 | 181,118 |
Galliford Try plc | 15,192 | 349,954 |
Grafton Group plc | 48,789 | 506,991 |
HellermannTyton Group plc | 30,119 | 220,039 |
Interserve plc | 43,588 | 372,454 |
Keller Group plc | 24,699 | 309,533 |
Kier Group plc | 13,275 | 281,181 |
Lavendon Group plc | 58,249 | 135,144 |
Melrose Industries plc | 147,172 | 602,099 |
Morgan Advanced Materials plc | 72,738 | 313,302 |
QinetiQ Group plc | 165,858 | 571,426 |
Rotork plc | 103,044 | 297,671 |
Senior plc | 67,061 | 234,004 |
SIG plc | 265,363 | 544,745 |
Speedy Hire plc | 160,878 | 74,683 |
Spirax-Sarco Engineering plc | 9,200 | 431,269 |
Ultra Electronics Holdings plc | 12,467 | 323,095 |
Vesuvius plc | 63,657 | 350,124 |
7,395,443 | ||
Commercial & Professional Supplies 1.2% | ||
Berendsen plc | 39,428 | 621,641 |
Cape plc | 60,677 | 214,946 |
De La Rue plc | 47,756 | 340,187 |
Hays plc | 316,353 | 685,376 |
HomeServe plc | 51,624 | 322,213 |
Security | Number of Shares | Value ($) |
Mears Group plc | 23,518 | 150,097 |
Michael Page International plc | 61,274 | 466,701 |
Mitie Group plc | 113,272 | 560,498 |
PayPoint plc | 9,316 | 142,179 |
Rentokil Initial plc | 257,260 | 611,941 |
RPS Group plc | 69,953 | 252,760 |
Shanks Group plc | 168,995 | 246,845 |
WS Atkins plc | 15,658 | 331,807 |
4,947,191 | ||
Consumer Durables & Apparel 0.5% | ||
Bellway plc | 14,107 | 563,473 |
Berkeley Group Holdings plc | 13,209 | 674,168 |
Bovis Homes Group plc | 11,076 | 174,707 |
Coats Group plc * | 933,456 | 423,795 |
Crest Nicholson Holdings plc | 22,395 | 187,324 |
Telford Homes plc | 11,095 | 67,689 |
2,091,156 | ||
Consumer Services 1.0% | ||
Betfair Group plc | 5,463 | 271,395 |
Bwin Party Digital Entertainment plc | 110,852 | 191,020 |
Dignity plc | 4,497 | 168,069 |
Domino's Pizza Group plc | 4,614 | 77,541 |
Enterprise Inns plc * | 322,508 | 533,314 |
Greene King plc | 71,383 | 883,081 |
J.D. Wetherspoon plc | 22,514 | 268,520 |
Ladbrokes plc | 392,446 | 637,871 |
Marston's plc | 173,980 | 432,737 |
Merlin Entertainments plc (d) | 33,127 | 211,381 |
Mitchells & Butlers plc * | 57,280 | 312,262 |
The Restaurant Group plc | 26,766 | 295,444 |
4,282,635 | ||
Diversified Financials 1.6% | ||
Aberdeen Asset Management plc | 87,283 | 465,393 |
Ashmore Group plc (a) | 64,291 | 266,843 |
Brewin Dolphin Holdings plc | 30,735 | 127,551 |
Close Brothers Group plc | 17,012 | 383,320 |
Hargreaves Lansdown plc | 9,380 | 208,459 |
Henderson Group plc | 122,240 | 538,815 |
IG Group Holdings plc | 52,884 | 614,698 |
Intermediate Capital Group plc | 55,444 | 482,552 |
International Personal Finance plc | 58,021 | 330,426 |
Investec plc | 74,872 | 623,699 |
Jupiter Fund Management plc | 41,234 | 286,005 |
London Stock Exchange Group plc | 15,137 | 592,651 |
Markit Ltd. * | 5,603 | 170,891 |
Provident Financial plc | 15,608 | 833,175 |
Schroders plc | 9,837 | 451,354 |
Schroders plc, Non Voting Shares | 1,000 | 34,814 |
Tullett Prebon plc | 60,557 | 327,504 |
6,738,150 | ||
Energy 0.2% | ||
EnQuest plc * | 553,180 | 230,378 |
Genel Energy plc * | 12,792 | 50,490 |
Security | Number of Shares | Value ($) |
Hunting plc | 39,943 | 221,400 |
Premier Oil plc * | 205,136 | 215,857 |
718,125 | ||
Food & Staples Retailing 0.1% | ||
Greggs plc | 25,751 | 471,250 |
Food, Beverage & Tobacco 0.5% | ||
Britvic plc | 29,190 | 313,797 |
Cranswick plc | 14,742 | 389,755 |
Dairy Crest Group plc | 54,706 | 542,053 |
Devro plc | 31,856 | 139,470 |
Greencore Group plc | 48,185 | 224,045 |
Premier Foods plc * | 664,301 | 348,189 |
1,957,309 | ||
Household & Personal Products 0.1% | ||
PZ Cussons plc | 58,187 | 269,352 |
Insurance 0.6% | ||
Beazley plc | 81,110 | 453,381 |
Hiscox Ltd. | 50,286 | 747,792 |
Jardine Lloyd Thompson Group plc | 17,625 | 255,885 |
Lancashire Holdings Ltd. | 72,067 | 789,472 |
Saga plc | 15,000 | 48,005 |
St. James's Place plc | 21,933 | 325,057 |
2,619,592 | ||
Materials 0.9% | ||
Acacia Mining plc | 51,364 | 152,349 |
Alent plc | 34,025 | 260,257 |
Centamin plc | 76,893 | 75,217 |
Croda International plc | 14,684 | 655,009 |
Elementis plc | 65,047 | 234,517 |
Essentra plc | 19,917 | 258,028 |
Evraz plc * | 362,139 | 471,642 |
Ferrexpo plc | 157,580 | 82,595 |
Marshalls plc | 11,651 | 62,235 |
Petropavlovsk plc * | 1,343,169 | 120,511 |
Polyus Gold International Ltd. | 70,736 | 207,461 |
Randgold Resources Ltd. | 7,702 | 516,549 |
RPC Group plc | 32,190 | 322,454 |
Synthomer plc | 41,936 | 212,964 |
Victrex plc | 8,417 | 239,172 |
3,870,960 | ||
Media 0.2% | ||
Daily Mail & General Trust plc | 39,360 | 453,457 |
UBM plc | 59,378 | 467,769 |
921,226 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Genus plc | 6,528 | 146,113 |
Indivior plc | 33,389 | 105,494 |
251,607 | ||
Real Estate 0.8% | ||
Derwent London plc | 4,348 | 259,676 |
Hammerson plc | 68,177 | 667,978 |
Intu Properties plc | 97,221 | 517,540 |
Mapeley Ltd. *(b)(c) | 2,199 | — |
Savills plc | 19,437 | 274,330 |
Segro plc | 94,261 | 652,958 |
Security | Number of Shares | Value ($) |
Shaftesbury plc | 11,434 | 165,505 |
The British Land Co., plc | 53,799 | 720,621 |
3,258,608 | ||
Retailing 1.1% | ||
Debenhams plc | 561,912 | 772,791 |
Dixons Carphone plc | 84,302 | 598,467 |
Dunelm Group plc | 12,619 | 184,224 |
Halfords Group plc | 65,520 | 438,552 |
Howden Joinery Group plc | 39,072 | 278,674 |
John Menzies plc | 38,659 | 240,771 |
Lookers plc | 91,572 | 247,771 |
N Brown Group plc | 42,818 | 246,874 |
Pendragon plc | 751,651 | 518,538 |
Poundland Group plc | 19,631 | 83,224 |
Sports Direct International plc * | 23,586 | 253,055 |
Vertu Motors plc | 67,297 | 77,549 |
WH Smith plc | 23,212 | 608,930 |
4,549,420 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
ARM Holdings plc | 29,174 | 459,451 |
Dialog Semiconductor plc * | 1,300 | 48,093 |
507,544 | ||
Software & Services 0.4% | ||
AVEVA Group plc | 7,519 | 237,477 |
Computacenter plc | 15,892 | 185,336 |
Fidessa Group plc | 5,584 | 168,636 |
Micro Focus International plc | 15,330 | 296,317 |
Moneysupermarket.com Group plc | 39,634 | 203,976 |
Playtech plc | 17,784 | 234,311 |
Telecity Group plc | 11,877 | 214,825 |
Xchanging plc | 103,140 | 267,121 |
1,807,999 | ||
Technology Hardware & Equipment 0.6% | ||
e2v Technologies plc | 14,981 | 53,926 |
Electrocomponents plc | 162,012 | 511,477 |
Halma plc | 37,288 | 438,305 |
Laird plc | 50,577 | 263,498 |
Pace plc | 61,943 | 355,801 |
Premier Farnell plc | 120,557 | 185,851 |
Spectris plc | 17,571 | 450,648 |
Spirent Communications plc | 222,306 | 251,889 |
TT Electronics plc | 89,063 | 175,400 |
2,686,795 | ||
Telecommunication Services 0.3% | ||
Cable & Wireless Communications plc | 835,234 | 945,685 |
KCOM Group plc | 127,296 | 170,196 |
TalkTalk Telecom Group plc (a) | 104,015 | 404,917 |
1,520,798 | ||
Transportation 0.5% | ||
BBA Aviation plc | 105,817 | 310,860 |
Go-Ahead Group plc | 8,903 | 332,828 |
National Express Group plc | 159,282 | 735,173 |
Northgate plc | 55,307 | 345,051 |
Stagecoach Group plc | 63,589 | 339,088 |
Stolt-Nielsen Ltd. | 12,114 | 163,686 |
2,226,686 |
Security | Number of Shares | Value ($) |
Utilities 0.0% | ||
Telecom Plus plc | 4,665 | 75,502 |
53,312,876 | ||
Total Common Stock | ||
(Cost $397,890,536) | 420,007,227 | |
Preferred Stock 0.4% of net assets | ||
Germany 0.3% | ||
Capital Goods 0.1% | ||
Jungheinrich AG | 3,632 | 268,322 |
Health Care Equipment & Services 0.1% | ||
Draegerwerk AG & Co. KGaA | 3,013 | 216,974 |
Materials 0.1% | ||
Fuchs Petrolub SE | 12,111 | 580,832 |
Transportation 0.0% | ||
Sixt SE | 2,168 | 93,200 |
1,159,328 | ||
Italy 0.0% | ||
Capital Goods 0.0% | ||
Danieli S.p.A. - Officine Meccaniche Danieli & C. - RSP | 9,067 | 137,200 |
Spain 0.0% | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Grifols S.A., Class B | 6,067 | 211,715 |
Sweden 0.1% | ||
Transportation 0.1% | ||
SAS AB | 4,745 | 278,250 |
Total Preferred Stock | ||
(Cost $1,652,774) | 1,786,493 | |
Rights 0.0% of net assets | ||
Australia 0.0% | ||
Media 0.0% | ||
Ten Network Holdings Ltd. *(b) | 183,734 | 1,965 |
Italy 0.0% | ||
Insurance 0.0% | ||
Mediolanum S.p.A. *(b) | 29,033 | 2 |
Total Rights | ||
(Cost $—) | 1,967 | |
Security | Number of Shares | Value ($) |
Other Investment Companies 4.9% of net assets | ||
United States 4.9% | ||
Equity Fund 0.9% | ||
iShares MSCI EAFE Small Cap ETF | 75,000 | 3,759,000 |
Securities Lending Collateral 4.0% | ||
Wells Fargo Advantage Government Money Market Fund, Institutional Class 0.01% (e) | 17,085,674 | 17,085,674 |
Total Other Investment Companies | ||
(Cost $20,702,382) | 20,844,674 | |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 0.0% of net assets | ||
Time Deposits 0.0% | ||
Brown Brothers Harriman | ||
Swiss Franc | ||
(1.00%), 11/02/15 | 5,238 | 5,299 |
Swedish Krone | ||
(0.64%), 11/02/15 | 631 | 74 |
Euro | ||
(0.24%), 11/02/15 | 15,676 | 17,238 |
Japanese Yen | ||
0.01%, 11/02/15 | 8,779 | 73 |
Singapore Dollar | ||
0.10%, 11/02/15 | 396 | 283 |
Norwegian Krone | ||
0.12%, 11/02/15 | 126,981 | 14,945 |
Australian Dollar | ||
0.85%, 11/02/15 | 5,020 | 3,580 |
New Zealand Dollar | ||
1.50%, 11/02/15 | 157 | 106 |
Royal Bank of Canada | ||
Canadian Dollar | ||
0.05%, 11/02/15 | 146,506 | 112,042 |
Total Short-Term Investments | ||
(Cost $153,640) | 153,640 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $16,225,783. |
(b) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(c) | Illiquid security. At the period end, the value of these amounted to $139,793 or 0.0% of net assets. |
(d) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $555,094 or 0.1% of net assets. |
(e) | The rate shown is the 7-day yield. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
ETF — | Exchange Traded Fund |
GDR — | Global Depositary Receipt |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
Holdings by Category | Cost ($) | Value ($) | |
90.6% | Common Stock | 319,471,368 | 275,693,734 |
9.0% | Preferred Stock | 51,687,794 | 27,393,065 |
0.0% | Short-Term Investments | 7,265 | 7,265 |
99.6% | Total Investments | 371,166,427 | 303,094,064 |
0.4% | Other Assets and Liabilities, Net | 1,316,994 | |
100.0% | Net Assets | 304,411,058 |
Security | Number of Shares | Value ($) |
Common Stock 90.6% of net assets | ||
Brazil 5.9% | ||
Banks 0.9% | ||
Banco Bradesco S.A. | 140,518 | 854,545 |
Banco do Brasil S.A. | 347,315 | 1,439,328 |
Itau Unibanco Holding S.A. | 46,229 | 297,415 |
2,591,288 | ||
Capital Goods 0.2% | ||
Embraer S.A. | 79,751 | 584,556 |
Diversified Financials 0.2% | ||
BM&F Bovespa S.A. - Bolsa de Valores Mercadorias e Futuros | 156,233 | 461,948 |
Energy 1.7% | ||
Cosan Ltd., Class A | 72,505 | 253,768 |
Petroleo Brasileiro S.A. * | 1,605,758 | 3,900,742 |
Ultrapar Participacoes S.A. | 61,214 | 1,062,805 |
5,217,315 | ||
Food, Beverage & Tobacco 1.0% | ||
Ambev S.A. | 387,350 | 1,916,679 |
BRF S.A. | 30,718 | 478,406 |
JBS S.A. | 176,800 | 652,697 |
3,047,782 | ||
Insurance 0.1% | ||
Sul America S.A. | 78,071 | 383,044 |
Materials 1.1% | ||
Companhia Siderurgica Nacional S.A. | 449,216 | 505,222 |
Vale S.A. | 668,976 | 2,958,225 |
3,463,447 |
Security | Number of Shares | Value ($) |
Software & Services 0.1% | ||
Cielo S.A. | 34,988 | 332,129 |
Telecommunication Services 0.2% | ||
Oi S.A. * | 176,773 | 143,928 |
Tim Participacoes S.A. | 161,447 | 353,336 |
497,264 | ||
Transportation 0.1% | ||
CCR S.A. | 105,200 | 330,532 |
Utilities 0.3% | ||
Centrais Eletricas Brasileiras S.A. * | 245,416 | 319,161 |
Companhia de Saneamento Basico do Estado de Sao Paulo | 99,510 | 431,796 |
CPFL Energia S.A. * | 73,932 | 296,687 |
1,047,644 | ||
17,956,949 | ||
Chile 0.8% | ||
Energy 0.2% | ||
Empresas Copec S.A. | 61,545 | 576,568 |
Food & Staples Retailing 0.1% | ||
Cencosud S.A. | 217,254 | 476,982 |
Transportation 0.1% | ||
Latam Airlines Group S.A. * | 51,741 | 276,396 |
Utilities 0.4% | ||
Empresa Nacional de Electricidad S.A. | 309,644 | 387,925 |
Enersis S.A. | 2,782,312 | 733,970 |
1,121,895 | ||
2,451,841 | ||
China 16.4% | ||
Automobiles & Components 0.3% | ||
Byd Co., Ltd., Class H * | 41,500 | 258,035 |
Dongfeng Motor Group Co., Ltd., Class H | 388,000 | 556,935 |
814,970 | ||
Banks 6.5% | ||
Agricultural Bank of China Ltd., Class H | 2,605,600 | 1,065,457 |
Bank of China Ltd., Class H | 8,362,234 | 3,943,306 |
Bank of Communications Co., Ltd., Class H | 695,000 | 512,631 |
BOC Hong Kong (Holdings) Ltd. | 247,500 | 791,427 |
China CITIC Bank Corp., Ltd., Class H * | 613,000 | 396,412 |
China Construction Bank Corp., Class H | 8,825,960 | 6,396,667 |
China Merchants Bank Co., Ltd., Class H | 335,850 | 876,876 |
China Minsheng Banking Corp., Ltd., Class H | 412,500 | 414,544 |
Industrial & Commercial Bank of China Ltd., Class H | 8,699,172 | 5,517,929 |
19,915,249 |
Security | Number of Shares | Value ($) |
Capital Goods 0.4% | ||
China Communications Construction Co., Ltd., Class H | 481,322 | 664,314 |
CRRC Corp., Ltd., Class H * | 349,000 | 443,655 |
1,107,969 | ||
Consumer Durables & Apparel 0.3% | ||
Belle International Holdings Ltd. | 508,000 | 493,083 |
Yue Yuen Industrial Holdings Ltd. | 117,000 | 426,822 |
919,905 | ||
Energy 3.8% | ||
China Petroleum & Chemical Corp., Class H | 7,043,400 | 5,077,193 |
China Shenhua Energy Co., Ltd., Class H | 558,500 | 939,691 |
CNOOC Ltd. | 2,527,075 | 2,854,360 |
PetroChina Co., Ltd., Class H | 3,558,000 | 2,785,572 |
11,656,816 | ||
Food & Staples Retailing 0.1% | ||
China Resources Beer Holdings Co., Ltd. | 165,000 | 311,548 |
Insurance 0.7% | ||
China Life Insurance Co., Ltd., Class H | 248,000 | 894,309 |
China Pacific Insurance Group Co., Ltd., Class H | 95,200 | 379,219 |
Ping An Insurance (Group) Co. of China Ltd., Class H | 129,000 | 724,109 |
1,997,637 | ||
Materials 0.3% | ||
China National Building Material Co., Ltd., Class H | 638,000 | 396,401 |
Jiangxi Copper Co., Ltd., Class H | 271,000 | 356,887 |
753,288 | ||
Real Estate 0.2% | ||
China Overseas Land & Investment Ltd. | 204,000 | 658,893 |
Retailing 0.1% | ||
GOME Electrical Appliances Holding Ltd. | 2,222,000 | 406,025 |
Software & Services 0.4% | ||
Alibaba Group Holding Ltd. ADR * | 2,080 | 174,366 |
Baidu, Inc. ADR * | 2,367 | 443,742 |
Tencent Holdings Ltd. | 33,400 | 629,569 |
1,247,677 | ||
Technology Hardware & Equipment 0.2% | ||
Kingboard Chemical Holdings Ltd. | 202,500 | 285,578 |
Lenovo Group Ltd. | 454,000 | 421,828 |
707,406 |
Security | Number of Shares | Value ($) |
Telecommunication Services 2.9% | ||
China Mobile Ltd. | 569,555 | 6,828,899 |
China Telecom Corp., Ltd., Class H | 1,787,000 | 932,138 |
China Unicom (Hong Kong) Ltd. | 887,056 | 1,081,044 |
8,842,081 | ||
Utilities 0.2% | ||
China Resources Power Holdings Co., Ltd. | 142,000 | 321,228 |
Huaneng Power International, Inc., Class H | 358,000 | 387,585 |
708,813 | ||
50,048,277 | ||
Colombia 0.3% | ||
Banks 0.1% | ||
Bancolombia S.A. | 27,344 | 222,188 |
Energy 0.2% | ||
Ecopetrol S.A. | 1,588,649 | 740,309 |
962,497 | ||
Czech Republic 0.3% | ||
Utilities 0.3% | ||
CEZ A/S | 43,361 | 866,376 |
Greece 0.6% | ||
Banks 0.1% | ||
National Bank of Greece S.A. * | 255,027 | 191,396 |
Consumer Services 0.3% | ||
OPAP S.A. | 91,873 | 816,497 |
Telecommunication Services 0.1% | ||
Hellenic Telecommunications Organization S.A. | 54,401 | 509,260 |
Utilities 0.1% | ||
Public Power Corp. S.A. | 77,254 | 446,989 |
1,964,142 | ||
Hungary 0.6% | ||
Banks 0.3% | ||
OTP Bank plc | 45,023 | 871,273 |
Energy 0.3% | ||
MOL Hungarian Oil & Gas plc | 17,611 | 794,739 |
1,666,012 | ||
India 4.1% | ||
Automobiles & Components 0.3% | ||
Mahindra & Mahindra Ltd. | 20,140 | 363,900 |
Tata Motors Ltd. * | 103,231 | 609,652 |
Tata Motors Ltd., Class A * | 7,121 | 28,258 |
1,001,810 |
Security | Number of Shares | Value ($) |
Banks 0.6% | ||
Housing Development Finance Corp., Ltd. | 44,184 | 846,909 |
ICICI Bank Ltd. | 138,620 | 586,154 |
State Bank of India | 114,837 | 415,003 |
1,848,066 | ||
Energy 1.7% | ||
Bharat Petroleum Corp., Ltd. | 28,795 | 382,990 |
Indian Oil Corp., Ltd. | 71,870 | 438,340 |
Oil & Natural Gas Corp., Ltd. | 276,112 | 1,042,309 |
Reliance Industries Ltd. | 236,083 | 3,419,185 |
5,282,824 | ||
Food, Beverage & Tobacco 0.1% | ||
ITC Ltd. | 74,361 | 380,008 |
Materials 0.2% | ||
Hindalco Industries Ltd. | 243,664 | 312,213 |
Tata Steel Ltd. | 87,056 | 327,910 |
640,123 | ||
Software & Services 0.7% | ||
Infosys Ltd. | 93,222 | 1,618,211 |
Tata Consultancy Services Ltd. | 13,682 | 521,629 |
2,139,840 | ||
Telecommunication Services 0.3% | ||
Bharti Airtel Ltd. | 134,671 | 717,846 |
Utilities 0.2% | ||
NTPC Ltd. | 271,143 | 550,497 |
12,561,014 | ||
Indonesia 1.2% | ||
Automobiles & Components 0.3% | ||
PT Astra International Tbk | 1,989,100 | 855,072 |
Banks 0.4% | ||
PT Bank Central Asia Tbk | 399,500 | 375,301 |
PT Bank Mandiri (Persero) Tbk | 549,900 | 348,015 |
PT Bank Rakyat Indonesia (Persero) Tbk | 574,000 | 439,314 |
1,162,630 | ||
Capital Goods 0.1% | ||
PT United Tractors Tbk | 228,700 | 300,898 |
Telecommunication Services 0.3% | ||
PT Telekomunikasi Indonesia (Persero) Tbk | 5,288,700 | 1,037,577 |
Utilities 0.1% | ||
PT Perusahaan Gas Negara (Persero) Tbk | 1,083,700 | 236,701 |
3,592,878 | ||
Malaysia 2.0% | ||
Banks 0.6% | ||
CIMB Group Holdings Berhad | 383,000 | 410,313 |
Malayan Banking Berhad | 372,600 | 714,302 |
Public Bank Berhad | 147,265 | 619,132 |
1,743,747 | ||
Capital Goods 0.2% | ||
Sime Darby Berhad | 366,900 | 712,515 |
Security | Number of Shares | Value ($) |
Consumer Services 0.2% | ||
Genting Berhad | 256,800 | 442,666 |
Materials 0.1% | ||
Petronas Chemicals Group Berhad | 290,400 | 428,166 |
Telecommunication Services 0.6% | ||
Axiata Group Berhad | 480,300 | 688,190 |
DiGi.com Berhad | 251,200 | 307,334 |
Maxis Berhad | 226,754 | 347,374 |
Telekom Malaysia Berhad | 222,500 | 345,151 |
1,688,049 | ||
Utilities 0.3% | ||
Tenaga Nasional Berhad | 313,100 | 920,289 |
5,935,432 | ||
Mexico 3.9% | ||
Banks 0.3% | ||
Grupo Financiero Banorte S.A.B. de C.V., Class O | 115,800 | 623,595 |
Grupo Financiero Santander Mexico S.A.B. de C.V., Class B | 214,700 | 394,492 |
1,018,087 | ||
Capital Goods 0.2% | ||
Alfa S.A.B. de C.V., Class A | 286,900 | 597,672 |
Food & Staples Retailing 0.4% | ||
Wal-Mart de Mexico S.A.B. de C.V. | 502,737 | 1,326,404 |
Food, Beverage & Tobacco 0.7% | ||
Coca-Cola Femsa S.A.B. de C.V., Series L | 45,500 | 349,752 |
Fomento Economico Mexicano S.A.B. de C.V. | 118,015 | 1,165,804 |
Grupo Bimbo S.A.B. de C.V., Series A * | 169,900 | 482,099 |
1,997,655 | ||
Household & Personal Products 0.1% | ||
Kimberly-Clark de Mexico S.A.B. de C.V., Class A | 150,000 | 361,973 |
Materials 0.7% | ||
Cemex S.A.B. de C.V., Series CPO * | 1,541,796 | 977,285 |
Grupo Mexico S.A.B. de C.V., Series B | 336,436 | 819,612 |
Industrias Penoles S.A.B. de C.V. | 20,170 | 268,155 |
2,065,052 | ||
Media 0.3% | ||
Grupo Televisa S.A.B., Series CPO | 144,617 | 841,464 |
Telecommunication Services 1.2% | ||
America Movil S.A.B. de C.V., Series L | 3,970,919 | 3,545,936 |
11,754,243 |
Security | Number of Shares | Value ($) |
Peru 0.1% | ||
Banks 0.1% | ||
Credicorp Ltd. | 3,682 | 416,729 |
Philippines 0.2% | ||
Telecommunication Services 0.2% | ||
Philippine Long Distance Telephone Co. | 10,630 | 498,331 |
Poland 2.3% | ||
Banks 0.3% | ||
Bank Pekao S.A. | 8,958 | 348,355 |
Powszechna Kasa Oszczednosci Bank Polski S.A. * | 89,512 | 662,930 |
1,011,285 | ||
Energy 0.9% | ||
Grupa Lotos S.A. * | 42,317 | 311,673 |
Polski Koncern Naftowy Orlen S.A. | 115,447 | 1,872,949 |
Polskie Gornictwo Naftowe i Gazownictwo S.A. | 226,502 | 401,297 |
2,585,919 | ||
Insurance 0.2% | ||
Powszechny Zaklad Ubezpieczen S.A. | 5,960 | 578,710 |
Materials 0.4% | ||
KGHM Polska Miedz S.A. | 50,524 | 1,172,970 |
Telecommunication Services 0.2% | ||
Orange Polska S.A. | 317,708 | 583,713 |
Utilities 0.3% | ||
PGE S.A. | 165,647 | 616,577 |
Tauron Polska Energia S.A. | 432,460 | 339,060 |
955,637 | ||
6,888,234 | ||
Republic of Korea 18.7% | ||
Automobiles & Components 2.6% | ||
Hankook Tire Co., Ltd. | 7,765 | 296,847 |
Hyundai Mobis Co., Ltd. | 8,160 | 1,715,478 |
Hyundai Motor Co. | 25,346 | 3,462,126 |
Kia Motors Corp. | 52,740 | 2,574,350 |
8,048,801 | ||
Banks 1.5% | ||
Hana Financial Group, Inc. | 31,440 | 764,589 |
Industrial Bank Of Korea | 38,292 | 468,725 |
KB Financial Group, Inc. | 31,063 | 984,118 |
Shinhan Financial Group Co., Ltd. | 50,181 | 1,915,170 |
Woori Bank | 37,495 | 325,252 |
4,457,854 | ||
Capital Goods 2.4% | ||
Daelim Industrial Co., Ltd. | 6,133 | 400,398 |
Daewoo Shipbuilding & Marine Engineering Co., Ltd. | 50,203 | 303,453 |
Security | Number of Shares | Value ($) |
Hyundai Engineering & Construction Co., Ltd. | 12,316 | 371,354 |
Hyundai Heavy Industries Co., Ltd. * | 15,835 | 1,315,150 |
LG Corp. | 22,941 | 1,327,408 |
LG International Corp. | 11,223 | 342,755 |
Samsung Heavy Industries Co., Ltd. | 41,206 | 478,066 |
SK Holdings Co., Ltd. | 10,681 | 2,496,690 |
SK Networks Co., Ltd. | 59,444 | 368,739 |
7,404,013 | ||
Consumer Durables & Apparel 0.5% | ||
LG Electronics, Inc. | 37,686 | 1,617,938 |
Energy 1.6% | ||
GS Holdings Corp. | 18,604 | 817,180 |
S-Oil Corp. | 13,597 | 813,196 |
SK Innovation Co., Ltd. * | 29,739 | 3,083,591 |
4,713,967 | ||
Food & Staples Retailing 0.2% | ||
E-Mart Co., Ltd. | 3,161 | 588,030 |
Food, Beverage & Tobacco 0.4% | ||
KT&G Corp. | 10,572 | 1,057,154 |
Insurance 0.4% | ||
Samsung Fire & Marine Insurance Co., Ltd. | 2,682 | 752,176 |
Samsung Life Insurance Co., Ltd. | 5,971 | 570,100 |
1,322,276 | ||
Materials 2.1% | ||
Hyundai Steel Co. | 12,749 | 580,460 |
LG Chem Ltd. | 7,060 | 1,876,839 |
Lotte Chemical Corp. | 2,832 | 594,574 |
POSCO | 20,296 | 3,263,817 |
6,315,690 | ||
Retailing 0.1% | ||
Lotte Shopping Co., Ltd. | 2,012 | 407,632 |
Semiconductors & Semiconductor Equipment 0.3% | ||
SK Hynix, Inc. | 35,167 | 941,147 |
Technology Hardware & Equipment 5.8% | ||
LG Display Co., Ltd. | 57,908 | 1,100,084 |
Samsung Electro-Mechanics Co., Ltd. | 12,590 | 716,522 |
Samsung Electronics Co., Ltd. | 12,934 | 15,513,371 |
Samsung SDI Co., Ltd. | 4,607 | 428,833 |
17,758,810 | ||
Telecommunication Services 0.2% | ||
LG Uplus Corp. | 45,955 | 440,442 |
Utilities 0.6% | ||
Korea Electric Power Corp. | 35,278 | 1,588,376 |
Korea Gas Corp. | 8,431 | 313,920 |
1,902,296 | ||
56,976,050 |
Security | Number of Shares | Value ($) |
Russia 12.4% | ||
Banks 0.4% | ||
Sberbank of Russia * | 804,530 | 1,140,930 |
VTB Bank JSC * | 140,000,000 | 158,620 |
1,299,550 | ||
Energy 9.9% | ||
Bashneft PAO * | 8,400 | 252,641 |
Gazprom PAO | 3,949,000 | 8,397,521 |
Gazprom PAO ADR | 1,270,000 | 5,352,202 |
Lukoil PJSC * | 118,799 | 4,317,426 |
Lukoil PJSC ADR | 112,200 | 4,075,735 |
NovaTek OAO * | 102,090 | 934,422 |
Rosneft OJSC GDR - Reg'd | 193,200 | 770,288 |
Surgutneftegas * | 6,493,005 | 3,639,745 |
Surgutneftegas ADR | 88,206 | 483,900 |
Tatneft ADR | 68,600 | 2,115,522 |
30,339,402 | ||
Food & Staples Retailing 0.2% | ||
Magnit PJSC * | 3,200 | 558,217 |
Materials 0.6% | ||
MMC Norilsk Nickel PJSC ADR | 88,200 | 1,306,211 |
Severstal PAO GDR - Reg'd | 38,971 | 457,245 |
1,763,456 | ||
Telecommunication Services 0.9% | ||
Mobile TeleSystems PJSC ADR | 167,851 | 1,179,993 |
Rostelecom PJSC * | 425,480 | 623,515 |
Sistema JSFC * | 3,378,800 | 934,711 |
2,738,219 | ||
Transportation 0.2% | ||
Aeroflot Russian Airlines PJSC * | 545,000 | 418,328 |
Globaltrans Investment plc GDR - Reg'd * | 39,500 | 165,803 |
584,131 | ||
Utilities 0.2% | ||
Rosseti JSC * | 1 | — |
RusHydro PJSC * | 52,500,000 | 535,395 |
535,395 | ||
37,818,370 | ||
South Africa 6.1% | ||
Banks 0.8% | ||
Barclays Africa Group Ltd. | 32,927 | 421,987 |
Nedbank Group Ltd. | 26,015 | 432,447 |
Standard Bank Group Ltd. | 140,359 | 1,458,348 |
2,312,782 | ||
Capital Goods 0.5% | ||
Barloworld Ltd. | 71,710 | 404,594 |
The Bidvest Group Ltd. | 48,492 | 1,238,707 |
1,643,301 | ||
Consumer Durables & Apparel 0.2% | ||
Steinhoff International Holdings Ltd. | 104,681 | 639,961 |
Security | Number of Shares | Value ($) |
Diversified Financials 0.2% | ||
African Bank Investments Ltd. *(a)(b) | 319,000 | — |
FirstRand Ltd. | 211,251 | 774,095 |
774,095 | ||
Energy 1.3% | ||
Sasol Ltd. | 121,404 | 3,889,986 |
Food & Staples Retailing 0.2% | ||
Shoprite Holdings Ltd. | 49,145 | 510,698 |
Food, Beverage & Tobacco 0.1% | ||
Tiger Brands Ltd. | 19,014 | 434,733 |
Insurance 0.2% | ||
Sanlam Ltd. | 114,344 | 516,575 |
Materials 0.8% | ||
AngloGold Ashanti Ltd. * | 104,403 | 880,943 |
Gold Fields Ltd. | 280,356 | 731,166 |
Impala Platinum Holdings Ltd. * | 180,155 | 491,312 |
Kumba Iron Ore Ltd. | 61,587 | 265,868 |
2,369,289 | ||
Media 0.3% | ||
Naspers Ltd., N Shares | 5,406 | 789,246 |
Retailing 0.3% | ||
Imperial Holdings Ltd. | 42,234 | 549,746 |
Woolworths Holdings Ltd. | 68,183 | 504,459 |
1,054,205 | ||
Telecommunication Services 1.2% | ||
MTN Group Ltd. | 230,145 | 2,620,111 |
Telkom SA SOC Ltd. | 104,364 | 548,035 |
Vodacom Group Ltd. | 40,801 | 440,697 |
3,608,843 | ||
18,543,714 | ||
Taiwan 11.8% | ||
Automobiles & Components 0.1% | ||
Cheng Shin Rubber Industry Co., Ltd. | 145,000 | 262,538 |
Banks 0.3% | ||
CTBC Financial Holding Co., Ltd. | 814,075 | 445,996 |
Mega Financial Holding Co., Ltd. | 627,404 | 457,160 |
903,156 | ||
Capital Goods 0.3% | ||
Far Eastern New Century Corp. | 612,817 | 556,974 |
Walsin Lihwa Corp. * | 1,472,000 | 354,613 |
911,587 | ||
Consumer Durables & Apparel 0.2% | ||
Pou Chen Corp. | 332,267 | 468,638 |
Diversified Financials 0.2% | ||
Fubon Financial Holding Co., Ltd. | 288,674 | 466,590 |
Energy 0.2% | ||
Formosa Petrochemical Corp. | 256,330 | 622,987 |
Food, Beverage & Tobacco 0.2% | ||
Uni-President Enterprises Corp. | 417,678 | 706,193 |
Security | Number of Shares | Value ($) |
Insurance 0.1% | ||
Cathay Financial Holding Co., Ltd. | 268,599 | 382,591 |
Materials 1.7% | ||
China Steel Corp. | 1,704,198 | 1,030,101 |
Formosa Chemicals & Fibre Corp. | 625,442 | 1,429,853 |
Formosa Plastics Corp. | 566,732 | 1,315,178 |
Nan Ya Plastics Corp. | 567,622 | 1,126,351 |
Taiwan Cement Corp. | 347,299 | 386,233 |
5,287,716 | ||
Retailing 0.1% | ||
Hotai Motor Co., Ltd. | 21,000 | 245,000 |
Semiconductors & Semiconductor Equipment 2.6% | ||
Advanced Semiconductor Engineering, Inc. | 514,094 | 593,498 |
MediaTek, Inc. | 91,138 | 710,726 |
Siliconware Precision Industries Co., Ltd. | 437,270 | 577,738 |
Taiwan Semiconductor Manufacturing Co., Ltd. | 1,291,103 | 5,440,276 |
United Microelectronics Corp. | 1,720,965 | 627,664 |
7,949,902 | ||
Technology Hardware & Equipment 5.0% | ||
Acer, Inc. * | 1,509,496 | 640,001 |
Asustek Computer, Inc. | 154,041 | 1,378,573 |
AU Optronics Corp. | 2,913,800 | 857,113 |
Compal Electronics, Inc. | 1,981,305 | 1,232,234 |
Delta Electronics, Inc. | 125,025 | 635,700 |
Foxconn Technology Co., Ltd. | 126,146 | 330,413 |
Hon Hai Precision Industry Co., Ltd. | 1,883,424 | 5,006,251 |
HTC Corp. | 368,473 | 887,410 |
Innolux Corp. | 1,887,357 | 633,164 |
Inventec Corp. | 742,639 | 425,630 |
Lite-On Technology Corp. | 560,644 | 581,170 |
Pegatron Corp. | 256,264 | 626,223 |
Quanta Computer, Inc. | 430,500 | 733,113 |
Synnex Technology International Corp. | 332,000 | 349,893 |
Wistron Corp. | 1,078,399 | 542,444 |
WPG Holdings Ltd. | 414,000 | 431,997 |
15,291,329 | ||
Telecommunication Services 0.8% | ||
Chunghwa Telecom Co., Ltd. | 529,906 | 1,623,558 |
Far EasTone Telecommunications Co., Ltd. | 142,622 | 309,442 |
Taiwan Mobile Co., Ltd. | 150,334 | 473,261 |
2,406,261 | ||
35,904,488 | ||
Thailand 1.4% | ||
Banks 0.2% | ||
Kasikornbank PCL | 60,000 | 290,659 |
The Siam Commercial Bank PCL | 88,800 | 333,304 |
623,963 |
Security | Number of Shares | Value ($) |
Energy 0.8% | ||
PTT Exploration & Production PCL | 194,000 | 398,172 |
PTT PCL | 199,187 | 1,540,070 |
Thai Oil PCL | 362,800 | 553,368 |
2,491,610 | ||
Materials 0.2% | ||
PTT Global Chemical PCL | 370,700 | 589,030 |
Telecommunication Services 0.2% | ||
Advanced Info Service PCL - Reg'd | 87,075 | 570,422 |
4,275,025 | ||
Turkey 1.5% | ||
Banks 0.6% | ||
Akbank T.A.S. | 244,348 | 626,200 |
Turkiye Garanti Bankasi A/S | 245,591 | 635,941 |
Turkiye Halk Bankasi A/S | 91,030 | 341,016 |
Turkiye Is Bankasi, Class C | 231,101 | 393,876 |
1,997,033 | ||
Capital Goods 0.3% | ||
KOC Holding A/S | 186,096 | 840,479 |
Diversified Financials 0.1% | ||
Haci Omer Sabanci Holding A/S | 141,138 | 447,471 |
Energy 0.3% | ||
Tupras-Turkiye Petrol Rafinerileri A/S * | 31,251 | 824,650 |
Telecommunication Services 0.2% | ||
Turkcell Iletisim Hizmetleri A/S | 126,700 | 503,499 |
4,613,132 | ||
Total Common Stock | ||
(Cost $319,471,368) | 275,693,734 | |
Preferred Stock 9.0% of net assets | ||
Brazil 6.2% | ||
Banks 2.1% | ||
Banco Bradesco S.A. | 388,242 | 2,115,078 |
Itau Unibanco Holding S.A. | 508,469 | 3,492,172 |
Itausa - Investimentos Itau S.A. | 305,321 | 570,165 |
6,177,415 | ||
Energy 1.6% | ||
Petroleo Brasileiro S.A. * | 2,403,954 | 4,802,054 |
Food & Staples Retailing 0.1% | ||
Compania Brasileira de Distribuicao Grupo Pao de Acucar | 27,715 | 364,690 |
Materials 1.5% | ||
Gerdau S.A. | 559,006 | 786,242 |
Metalurgica Gerdau S.A. | 451,595 | 304,288 |
Vale S.A. | 968,728 | 3,523,992 |
4,614,522 |
Security | Number of Shares | Value ($) |
Telecommunication Services 0.3% | ||
Oi S.A. * | 353,871 | 194,548 |
Telefonica Brasil S.A. | 67,772 | 701,951 |
896,499 | ||
Utilities 0.6% | ||
Centrais Eletricas Brasileiras S.A., Class B | 191,620 | 468,192 |
Companhia Energetica de Minas Gerais | 388,008 | 720,100 |
Companhia Paranaense de Energia-Copel | 37,544 | 316,104 |
Eletropaulo Metropolitana S.A. * | 129,993 | 333,921 |
1,838,317 | ||
18,693,497 | ||
Colombia 0.1% | ||
Banks 0.1% | ||
Bancolombia S.A. | 43,027 | 373,089 |
Republic of Korea 1.2% | ||
Automobiles & Components 0.3% | ||
Hyundai Motor Co., Ltd. | 3,335 | 321,171 |
Hyundai Motor Co., Ltd. 2nd | 5,550 | 554,294 |
875,465 | ||
Consumer Durables & Apparel 0.1% | ||
LG Electronics, Inc. | 11,256 | 241,847 |
Materials 0.1% | ||
LG Chem Ltd. | 1,188 | 223,594 |
Technology Hardware & Equipment 0.7% | ||
Samsung Electronics Co., Ltd. | 2,227 | 2,326,056 |
3,666,962 | ||
Russia 1.5% | ||
Banks 0.0% | ||
Sberbank of Russia * | 86,900 | 93,233 |
Energy 1.5% | ||
AK Transneft OAO | 1,416 | 3,300,581 |
Bashneft PAO * | 4,477 | 111,579 |
Surgutneftegas * | 1,694,100 | 1,154,124 |
4,566,284 | ||
4,659,517 | ||
Total Preferred Stock | ||
(Cost $51,687,794) | 27,393,065 |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 0.0% of net assets | ||
Time Deposits 0.0% | ||
Brown Brothers Harriman | ||
Euro | ||
(0.24%), 11/02/15 | 5,610 | 6,169 |
South African Rand | ||
5.25%, 11/02/15 | 15,162 | 1,096 |
Total Short-Term Investments | ||
(Cost $7,265) | 7,265 |
* | Non-income producing security. |
(a) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(b) | Illiquid security. At the period end, the value of these amounted to $0 or 0.0% of net assets. |
ADR — | American Depositary Receipt |
GDR — | Global Depositary Receipt |
Reg'd — | Registered |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/18/15 | 20 | 843,700 | (21,933) |
Table of Contents
Report of Independent Registered Public Accounting Firm
To the Board of Trustees and Shareholders of:
Schwab S&P 500 Index Fund
Schwab Small-Cap Index Fund
Schwab Total Stock Market Index Fund
Schwab International Index Fund
Schwab Fundamental US Large Company Index Fund
Schwab Fundamental US Small Company Index Fund
Schwab Fundamental International Large Company Index Fund
Schwab Fundamental International Small Company Index Fund
Schwab Fundamental Emerging Markets Large Company Index Fund
In our opinion, the accompanying statements of assets and liabilities, including the condensed portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights (included in Item 1 of this Form N-CSR) and the portfolio holdings (included in Item 6 of this Form N-CSR) present fairly, in all material respects, the financial position of Schwab S&P 500 Index Fund, Schwab Small-Cap Index Fund, Schwab Total Stock Market Index Fund, Schwab International Index Fund, Schwab Fundamental US Large Company Index Fund, Schwab Fundamental US Small Company Index Fund, Schwab Fundamental International Large Company Index Fund, Schwab Fundamental International Small Company Index Fund and Schwab Fundamental Emerging Markets Large Company Index Fund (nine of the funds constituting Schwab Capital Trust, hereafter referred to as the “Funds”) at October 31, 2015, 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 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, financial highlights and portfolio holdings (hereafter referred to as “financial statements”) are the responsibility of the Funds’ 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, 2015 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion.
PricewaterhouseCoopers LLP
San Francisco, California
December 16, 2015
Table of Contents
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: 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.
Not applicable.
Item 11: Controls and Procedures.
(a) | Based on their evaluation of Registrant’s disclosure controls and procedures, as of a date within 90 days of the filing date, Registrant’s Chief Executive Officer, Marie Chandoha and Registrant’s Principal Financial Officer, George Pereira, have concluded that Registrant’s disclosure controls and procedures are: (i) reasonably designed to ensure that information required to be disclosed in this report is appropriately communicated to Registrant’s officers to allow timely decisions regarding disclosures required in this report; (ii) reasonably designed to ensure that information required to be disclosed in this report is recorded, processed, summarized and reported in a timely manner; and (iii) are effective in achieving the goals described in (i) and (ii) above. |
(b) | During the second fiscal quarter of the period covered by this report, there have been no changes in Registrant’s internal control over financial reporting that the above officers believe to have materially affected, or to be reasonably likely to materially affect, Registrant’s internal control over financial reporting. |
Item 12: Exhibits.
(a) | (1) | Registrant’s code of ethics (that is the subject of the disclosure required by Item 2(a)) is attached. | ||
(2) | Separate certifications for Registrant’s principal executive officer and principal financial officer, as required by Rule 30a-2(a) under the 1940 Act, are attached. | |||
(3) | Not applicable. |
Table of Contents
(b) | A certification for Registrant’s principal executive officer and principal financial officer, as required by Rule 30a-2(b) under the 1940 Act, is attached. This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. section 1350 and is not being filed as part of the Form N-CSR with the Commission. |
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) Schwab Capital Trust
By: | /s/ Marie Chandoha | |
Marie Chandoha | ||
Chief Executive Officer |
Date: December 15, 2015
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Marie Chandoha | |
Marie Chandoha | ||
Chief Executive Officer |
Date: December 15, 2015
By: | /s/ George Pereira | |
George Pereira | ||
Principal Financial Officer |
Date: December 15, 2015